Title: They Fixed The Gold Price Once. They Will Do It Again | Francis Hunt Show: Risk Takers (YouTube channel) Guest: Francis Hunt ("The Market Sniper" / "The Crypto Sniper" — technical trader, Hunt Volatility Funnel method) Date: 2026-09-16 URL: https://youtu.be/EMVpICf_y8w Length: 70:00 Note: YouTube auto-transcript pasted by Stephen; fillers (um/uh/you know) and stutters removed, obvious ASR name fixes (Risk Acres→Risk Takers, Bit Boy→Bitcoin, Bessant→Bessent, Walsh→Warsh, Zedcash/ZDC→Zcash/ZEC, Nikai→Nikkei, Cosby→KOSPI, SK Highix→SK Hynix, Fuler/Vulkar→Volcker, hormuse→Hormuz, tradfire→TradFi, Salana→Solana, chiffen→Triffin, hedgeimite/hedgeimon→hegemon, VHimar→Weimar, Dixie→DXY, Leman's→Lehman's, Ponziomics kept); wording otherwise verbatim. Screen-shared charts are not captured. =====
00:00 Hey guys, welcome back to Risk Takers. Today we are joined by the market sniper Francis Hunt. Francis, thank you for being here, sir. >> Very glad to be with you. Also under the crypto sniper moniker as well at occasion, but I think we're going to start right at the top. So stay with that one. >> Yes, sir. Indeed.
00:17 So yeah, Francis, you've been a you've been incredibly bearish on bonds for a very long time now. I think you were one of the first people to really just call this five six years ago just saying look this is this you don't want to be holding these things and the last five years for bond holders has been absolutely catastrophic really if you look at like TLT for example effectively what were the safest things you could possibly hold are down 50% in dollar terms let alone the real return of those
00:47 things over the last 5 years and so I guess we could just sort of start with where you think we are now have all that sort of destruction in the past. It feels like bond yields are more poignant than ever. As soon as you open up X, Reuters, whatever, it's bond yields, bond yields, bond yields.
01:06 And often times when you when it becomes the narrative when everyone is talking about the thing, the trade is gone. Where do you stand right now with sort of a the sovereign debt situation today? So it's a good question and as you point out that often by the time the mainstream media streams are running with it's gone.
01:26 Unless of course he says putting his one finger up in the air and that this is something large far larger and seminal and I do feel that we're in that latter category. So, as you correctly and kindly pointed out, we have been holding this space since 2021. And we've worked we've been preaching this message since the proliferation of the COVID 19 events.
01:47 And we called a technical turn when people were still talking NIRP, ZIRP, buy bonds, wear diamonds, Christine collateral, US treasuries, robust foreign demand. And I finally retweeted today very weak foreign demand for auction. We've literally had to kill negative interest rates, zero interest rates.
02:12 Each one of these tactical retreat sound bites that have been defending an asset class that is in a major debasement devaluation stage and that continues to hold and it is the largest thing. It underpins the pyramid of our system fiat and debt. It's comes be it's more foundational to than stock and anything else.
02:37 It's the money system and this is this is the turn co the blowoff is the turn. There's no appetite anymore for US debt. We've actually shared a couple of diagrams before that I've done recently for certain debates that we've done that kind of just explains them. I think when you when you get the full explanation of that it certainly helps.
02:58 So if you'll allow me I share screen I'll jump and yeah please sure. >> So essentially the carry trade which has been the cheap borrowing in Japan which was since their debt crisis where did the bulk of that investment money go? It went into treasuries and into America. These are a couple of examples of many many of the things people already know.
03:17 The petro dollar that was established through Kissinger and hey nice oil fields you got there. It would be a shame if someone were to attack you and take it off you. That the petro dollar where did those go into? Well, they were encouraged, let's just say, to buy treasuries and of course US stocks as well.
03:33 So that's was in built support for the dollar because they sold in dollars. They did it. Everybody probably understands that by now. It's not new. Of course, the Fed was able to Triffin dilemma is you can proliferate much more of your currency and debt when everyone else is bringing you goods if you are the hegemon.
03:51 So the local Fed and commercial banks that's already inside America allowed for much higher borrowing rates and expanding and of course this was all great pioneering spirits rule of law biggest military scale markets massive consumer America the haven for investment the stock market etc so they became the most pristine destination for investment generally that was the old story in other words this is the black hole sucking in offshore dollars Some of those offshores also came from dollars that were printed offshore. The euro
04:23 dollar market. That doesn't mean the euro USD. It means dollars originated outside of America. Which believe it or not exists. Of course, you more recently had stable coins as buyers of treasuries and therefore supporting dollars for people particularly outside of America. If you're in South Africa, UK, wherever you are, you deal in USDT.
04:44 there isn't really a major euro or pound-based stable coin of any scale. That then leads to demand for dollars and treasuries when you're selling out of your Bitcoin buying into Ethereum or whatever you might be doing. And then there's the slightly more shaky maintenance of what I would call the Ponziomics which is the Cayman Islands, the Benelux that are becoming aggressive buyers to hold the whole story together of US.
05:11 So the basis trade out of the Cayman's Islands. I've mentioned this in our Substack. Essentially, you're talking about a 7.5 billion GDP island, not particularly large. 7.5 billion is not particularly big. That has nearly two trillion in according to BIS, not me. in the equivalency of treasuries. That's a bit like a guy on a $250,000 gross salary with expenses still to come off having a $68 million bond portfolio.
05:42 So the proportionality of that just doesn't sing. So it's quite clearly hedge funds. It's quite clearly structural support. So what we're having now is the reversal of this vacuum effect of money into the US and that's bad for debt markets generally and America specifically. But note I also say generally western world are being encouraged.
06:02 It's a leper colony and because we're comparing currencies between the leper colony everybody's healthy if we all have the same amount of scabs. And that's kind of what we're doing. Forgive the analogy. It's not the prettiest one. But it is a leper colony. So going to the debt markets. This is your US tenure. And this is a classic upside HVF setup.
06:22 We call it the hunt volatility funnel. It is a squeeze. It has three distinct impulses in it. There was some volatility in periods. That was Trump tariff tantrums by the way. And we all saw what happened on gold there. And that's your structure. You had a nice triggering event. See the nice clear candle.
06:40 You made the first level target. So our methodology tells you when you're going to rest. You pull back. You sat on the midpoint. And now you've been reasserting upwards. The next point of rest is after you've run 5.334 meaningful rest. So we expect quite steady progress. And you've seen this accelerate. This is on the 10-year. October last year, we called the long end.
07:02 Six primary major first world nations drew 6%. That's the 5.75 to 6% within 6 months of 2026 ending. So I threw all the sixes together. Played a little bit on the boogeyman of all the sixes. And that's our prediction. This is not the long end. This is not the 30-year by the way. This is the 10-year that's at 4.
07:23 99 and has already traded through five. So, if we take you even a little deeper into the weeds on the 30-year, this is what's actually happening. So, tidy my face up a little bit there. Remove the overlay draws. I'm going to just pull this across a little bit. This triggered a little sooner. And this has a target of 6.339. And you're getting close to our second interim area here.
07:46 And then when you have open space between the second target level where you're likely to have a bit of push back sideways delays before you make new up once you start the new up this big open space to the full target means you typically are moving rather quickly. So that's a blowoff event. So this is pointing to a blowoff event in rates that's going to be very destructive for property markets.
08:08 It's going to be very destructive for the tech stock markets. Excuse me. It's going to be very destructive for personal finances, banks. a lot of things. So there are a kind of a CV19 combined with subprime vibes to this a 2008 and I think this leads into a digital event. So I expect we're probably going to have some form of event that says hey we got to redraw the map.
08:32 You've already had Bessent refer to Bretton Woods and various other things. So overall this has been a very good environment for the anti-fiats. The anti-fiats are something that we talk about here and crypto is included in that. So we'll bring it back to let's just see if that there we go. The anti-fiat is in the green box.
08:55 So gold is king and gold moved first right when the debt crisis in 2021 started. Silver followed. Miners are following but still a bit behind. And crypto is a subset of that. So, as a as a as a strong crypto audience, they'll want to hear about that. And the king of crypto is Bitcoin and then we get into alts.
09:20 And then the more, and varying alts by degree. I'd argue XRP probably more major one might belong in there rather than Solana. But they're both big. They're both going to be substantial and they'll start to move. So the firing sequence of how stuff goes down is you are in a reset already. That bond market movement is bringing about a debasement in the dollar, a debasement in debt.
09:46 They go together. One is a note you hold in your hand and one is a promise to deliver one in four weeks, a month, 5 years, 10 years with a small rental agreement. So you can't debase debt long-term without it having a material effect on the currency environment, which is why commodities are running and why I think the crypto turn has come in.
10:08 So if you want to hear about Bitcoin, but I've said a lot, so maybe I'll hand back and let you just digest that and drill down, but I'm ready to talk on spread that out and bring it closer to home now. >> Yeah. Awesome. Francis, just on the yield situation then because for a very long time there was no growth, right? If you look at Japan's a perfect example of this effectively you go back to you know pre 1990ish Japan was a global leader then they went through their property crisis and effectively had no
10:38 growth for 25 30 plus years right and so they had these extremely low rate environments because there was no inflation and there was no growth they have started to actually see growth recently and nominal GDP so the nominal GDP and long-term rates, long-term yields, they tend to move very, very closely together.
10:59 And so now you're seeing, yes, Japan's 30-year has increased to 3% which is enormously higher than the zero that it was. And the delta on that is just obscene. But it's come alongside actual growth. So I guess the question is like what's is 5% yields really that bad when you're getting five or 6% nominal GDP growth? like these countries are nominal GDP growth is going up in line with so it's inflation expectations and nominal GDP growth and these things are what's better deflation or inflation >> so the keeping is the monkey money
11:39 that you're measuring yourself in and the degree of CPI that is truly being declared so people will try to tell you that this is a better economic environment for Japan rather than when the yen was actually strong. So the yen's been in a weakening cycle for quite an extended period. And we used to see as someone based in the UK you'll remember I would often see at Tower Bridge the best dressed buses of Japanese tourists with the finest cameras dressed to the hilt very smart in their tour groups being shown
12:11 around all the classic the Tower of London and all the history of Britain and they were having a currency that was strong. They were great tourists to have. they spent well, they were educated, they were smart, all of those good things. So as much as what we say about rates, it's it depends on whether you're getting a real inflation.
12:33 The notion of growth is real terms growth and the true inflation is far higher. Japan has faced a doubling of rice costs, a staple as everyone will realize in 18 months doubling that's 100%. I mean that's huge. But that isn't all drought and climate change or whatever they want to tell you. That is actually the debasement of currency which is going simultaneous with the debasement of the debt.
12:57 In other words, the higher yield that is being needed to pay. I mean we were covering Japanese debt and it was our worst performing videos. No one cares until everybody on X I don't cover it anymore. It's the trade that's already now well established the debasement trade. I put it on log scale. You'll see in percentage terms how much this mean.
13:15 But while we were down at 0.4%, we were calling for six on the 40-year. There is a 40-year in the Japanese debt and we've been calling for threes and fours for the 10 when those were actually negative as you correctly pointed out you can see down here and said this technical structure and as I say we drew it back then I still have the screenshots of it and it's we really trade the markets but this is very interesting because it's to me the second most indebted of the first tier worlds.
13:44 Everybody thinks America is better because the percentage GDP is lower than Japan. Japan's at about 230 and America's about 130%. But the unfunded liabilities in Japan take him up to about 330 and in America takes it up to about 600 to 750%. So America will be reneging in some form. >> You're referring to like Medicare, Medicaid, etc. Right.
14:07 in all that >> and even if you cut all of that in half which would be a political suicide of course but somebody will how do you get around to it if you cut it all in half and you take all that you know that extra 5 600% I'm adding on and you reduce it to 300 you're still at 430 so America is and posted as Britain found out is one of the harsh harshest economic environments for that nation because essentially you had a privilege that's now been taken away and you've cut your cloth according to
14:41 that privilege and now suddenly you've got to compete with people that have been building sci-fi factories that run with one or two operators think in China manufacturing and you have to stop buying their from them because their currency is now relatively so much more expensive than yours and you have to go on a grassroots re onshoring manufacturing and competing and being as competent as people who have had decades Kissinger and Nixon went to China in the 70s and that's why we have a dollar index where we're only comparing
15:11 western nations. It's irrelevant now, but in 1974, the major economic first world was the DXY, which had the Swedish krona in it, the Japanese yen, the euro, the pound, and all of this. Now, if you want to talk about dollar strength, if you're not including the Chinese yuan and the Mexican peso, which is an onshoring hustle by Europe, China, and a lot of other nations that are selling to the biggest consumer market, you're not really reflecting the strength of the dollar. And the dollar's collapsed
15:40 against the peso. it's collapsed against the yuan. So, with the increase in rates, the people that put forward other theories like the milkshake theory, you're supposed to see dollar strength and it's supposed to be the last thing standing. And in actual fact, we're seeing collapsing debt markets, increasing rates, and you've actually got a weaker dollar and the DXY is not the measurement because you're comparing it with other nations that have a similar disease.
16:06 Hence why I refer to them as the leper colony. So, that's the grand macro sketch that I do. And we've got a lot more, graphical aspects to help people visualize this because that's quite content rich. And that's sometimes why I always feel like I'm talking too fast. I'm trying to cram so much in and at the risk of people missing important points because I'm, just spitting the lyrics here like a rap star.
16:30 But point of the matter is it there is a lot to take in to understand what is a global macro structure. We are seeing a western based debt fiat collapse and comparing the fat American to the fat European that have both jumped out the plane which is gold and looking at each other and both seeing oh we're okay relative to them is to miss the point that they're both hitting the ground and that's coming and that is going to lead to the digitization opportunity which is going to bring far more power and the surveillance grid that brings in AI
17:01 crypto and everything else which is why I'm still an advocate for having cash and physical things like gold and I'm also suggesting that tokenization is a very dark topic whereby government gets to see all that you earn and own so that they can take it off you on the basis of world economic forums you will own nothing and be happy the year is 2030 they deleted that tweet by the way it has been screenshot and I did retweet it but you will own nothing you will have no privacy and be happy well I don't know what they will be spiking into your
17:33 veins but I and trust governments. That's where I stand. However, there's a pragmatism that has to exist and if we're going to have a digital a major digital inflation because assets are going to be recorded on that and the railway lines for running all of this is running in that and we're having a major debasement.
17:52 Think of all those bond portfolio that are being nixed and no new money wants to come in. Where's the new money that being created which is still happening wanting to go? Where's all those interest payments that are getting higher as the bond rates go up? Where's that being invested? And that will find its way into the digital space and physical commodities.
18:11 So those are the beneficiaries in this macro environment. Just on all that then so if we look at the 20-year, the 30-year, even the 2-year, right? Bond prices, this is for the US specifically, were roughly, not were roughly at this level two years ago or three years ago in November 2023.
18:30 And I guess my question is look, if these longer term bond yields were roughly at this level, to three-ish years ago, does this really say this is a sovereign debt crisis or does this say, look, the Fed really haven't got much capacity to move the bond market? The bond market will go wherever it wants to go and the Fed can do whatever they want.
18:53 But this is evidence, right? The Fed have reduced what 150ish basis points during this period of time from that high there to the to the to the high we see now. And the is that the tenure you've got there or the Yeah. 10-year >> for you. Yeah. >> Perfect. Yeah. And there is an argument that all this says is look the Fed are not in charge.
19:12 The Fed are a passenger and the market are driving the car. So why is now so much different to the those highs in 2023? Well, the key part, so there's a technical and a fundamental answer. I'll start with a technical, but we got the chart up. There was a major reversal of a 40-year bear trend in rates.
19:31 That was bullish obviously for valuations. So what you've got here is a key move up and then you've had a pause and a continuation pattern that we recognize and trade almost uniquely. And now you've seen a breakout and a continuation out of what is a continuation pattern. Bear in mind, we've been saying this even during this period that this correction will come that this is just a continuation pattern for further upside.
19:54 That's the technical argument. Your case is bond market in charge. You're correct on that in my view and that's why the Fred Fed I called him Fred Fed has to come in front of the bond market. I refer to him as the cowardly general that none of the troops trust. And they go to war under the advice of the captains. And the captains are leading an attack down there.
20:14 And then the general on his horse rides out in front to say, "Yes, this way, lads. This way." When the decision was already made, but he's keeping up appearances. So the Fed is going to do a hike. They don't want to do a hike. The whole story was Powell was being sacked for not doing cuts and we're bringing in the dove to do the cuts.
20:30 And what's happening? The first move he's going to make is a hike. Well, that's because people don't want US debt. Everything that is being done is designed to make the debt markets crash. So, the escalation of inflation through the fuels in Hormuz is part and parcel of pushing the debt market to collapse. Inflation number go up.
20:49 Debasement, commodity costs more, oil costs more that multiplies into delivery and other products. It's the biggest accelerant of inflation is the energy market. It's because we all use it. We travel, packaging, you name it, it's all in there. So all this does is ensure that rates continue higher. And I need to probably just highlight how far this move has actually been.
21:12 If I clean my face a little bit, this was a 1980s back here with the Volcker highs. You've had a 40-year bull market in bonds and this was a final capitulation. And if I put it back onto log logarithmic mode, you can see technically again. So jumping in between technical and fundamental, a final capitulation, it's very typical in percentage terms of an end trend.
21:40 Just like a blowoff in the NASDAQ during 1999 2000 is exactly the end technically as well of valuations. An extremity event that pushed to ridiculous final highs, that is the end and this is a reversal and that's why this is a continuation of rates going far higher. Now the problem is we've loaded up on a lot more debt than existed there.
22:02 I think the US was around 35% under debt to GDP. And now it's totally different game. In short, you don't get to go the same height as Volcker era without a major interest rates and payment collapse. So we will collapse far sooner because we've loaded up on the cookies putting our hand in the jar. Once we got our hand in the jar, we can't get it out the neck of the bottle.
22:26 whilst when we put it in there wasn't we weren't holding the same amount so why will they the bond vigilantes you've got America you've got all in that initial diagram the petro dollar is unwinding Saudi is no longer able to export pipeline broke up they run a peg against the dollar they're needing to borrow now to do this so there goes the petro dollar via Saudi plus they've been flaunting and flirting with the other parties the Chinese bolting system.
22:56 So there's a huge support for USD and US disappearing in that petro dollar. Then you had the Japanese carry trade. The yields are now contracting between Japanese debt and the dollar debt. That's seeing a reversal because loans taken in Japanese yen converting into dollars invested in Nvidia and treasuries now need to go the other way.
23:18 So what you're developing is the excessive suction, the black hole for money in America is going to hit the bumper. Why? Because of faith and trust being spoiled. And the faith and trust started with Biden seizing America's money. So, let's just highlight that there was all the money coming in. And people think that with interest rates going higher, they'll chase into the dollar.
23:41 Well, they're going higher in Europe. They're going higher into Britain. and they're all experiencing currency weakness relative to exporter surplus nations like China like Russia for energy like Mexico which is onshoring consumer products by closer to its consumer base. So our take is this is the correct read a loss of faith.
24:07 Now there were a couple of things that undermined that the great taking laws, the bailout laws we are seeing. One of the great things about America was the rule of law. I mentioned it. Well, it's being eroded and it's been changed and the T's and C's keep getting adjusted to benefit mega corporates at the effect of consumers and investors.
24:27 So more and more the law the faith is going. The debt market is Hotel California. In fact, we have a we have a graphic for that too and it has offering investor at jamming away but it but you can check out anytime you like but you can never leave. And that's the problem. Once you become a super scaled investor in treasuries they don't want you to sell which talks to an asymmetry to in the market.
24:48 Buyers, please come on right in. Come on right in. Red carpet. Hey, you want to sell that? Well, here's a thing. How about we call it collateral and we'll draw up some lending terms for you to lend against it. No, no. I don't want to become a borrower. I borrowed money. You're borrowing from me,.
25:04 No, no, no. We can do you a good deal. You only a couple of point. No, no. But you're trapped. What eventually happens? It's the old adage. You owe the bank $10,000. You have a problem. You owe them hundred million. The bank has a problem and you're their biggest investment there. And you get to dictate terms because you've managed to get them dug in such a big hole on you.
25:24 They need you to survive. They need to see whatever your investment strategy, your gold mine you dug come good because otherwise they go bankrupt. And that's kind of what's happened with the US. Japanese are stuck. The Europeans are stuck. These Benelux nations that were buying ridiculous amounts. The Cayman which is like a 24-hour daily funding rollover thing all facilitated by the likes of JP Morgan, Goldman Sachs for these hedge funds.
25:50 This is they are literally propping up and they can pull the plug anytime. So this is a controlled demolition. it's unsustainable. The rates are going higher. There's a Ferguson law which I also referenced in this presentation by the way which highlights that the minute you are spending more than on interest in your military you have fallen foul of the Ferguson law.
26:13 I thought I had it in here. Forgive me if I don't find >> thing is the decaying of America. Domestic credit poor shape. >> Property market's going to get hit. the Euro dollar is the liquidity doesn't want to hide out. You've got hyper valued, tech stocks and they've all been borrowing on private credit, profitless borrowing on AI investments that now see collateralized debt insurance basically CD CDOs and CDS on their debt.
26:48 These are unicorn companies. These were better debt profile than America themselves. Now, particularly in the case of Oracle and starting to happen on Amazon, they don't want to lend private money anymore. They're saying, "When are you ever getting a return on this?" So, everybody's asking the difficult questions now and the decay is becoming the problem.
27:07 the military is becoming a bit of a boneyard. I don't know if you saw the Abraham Lincoln checking in the other side. The troops are demoralized. They think they're fighting for Israel more than America., there's a lot of things. The rule of law is eroding. We had an interview with Tom Titus on this fact, a lawyer who keeps saying this is what's changed. This is what's changed.
27:24 So the whole the whole original attractiveness is being walked back and the reversal of flows is going to be dramatic and it's going to lead to a westernized not just America. The only good news for America is they'll fall they won't fall alone. They're taking all the slave nations with them and the others that have been in the same leper colony synchronized to do the same things.
27:47 It'll include Commonwealth, Australia, Canada, Europe, UK sadly all down and this is a global depression. So we're going to have a problem reaction and a solution and the solution comes out in the digital format. The question is you need to survive this process financially, fiscally and physically >> and ourselves to do that.
28:08 So maybe we should drill down there. >> Yeah. Ju so ju just on that pathway then. So if we think back to what because you have to assume that Bessent, Warsh, Trump, they have a plan for all this, right? At least they at least they like Bessent you would assume knows what is going on and is thinking about ways to at least kick the can down the road.
28:28 Why can't this can be kicked for another 5 years, 10 years, 20 years? And also we've already seen like property in the US has been arguably, there's pockets of out performance. Yes, if you're in Dallas or whatever, but property in the US has been in a bear market now for, been frozen really, hasn't it, for, two plus years.
28:48 Really, really limited transactions going on. If you even new home sales, pricing wise have eclipse to the downside. Old home sales. So, manufacturers in construction companies that have built enormous inventories are trying to get rid of their inventories. the property has been in a bear market and for the first time really ever this bear market hasn't bled into equity valuations.
29:13 The equity market has been okay in the face of this frozen property market and the and from the treasury standpoint the US the US treasury standpoint the Cayman Islands as you rightly said are enormous buyers of treasuries and these guys are just playing the basis trade and what the Treasury market has been trying to do to allow them to keep this basis trade just running is dampen volatility.
29:33 We've seen bonds move absolutely crazy as you've rightly said and the MOVE index is it's not it's not down to nothing but it's relatively subdued to what you might expect for this for this for why for the volatility that we have really been experiencing in bonds.
29:51 So there's so many sort of things but what do you think the actual plan is for Bessent Warsh Trump here and do you think they have any chance of achieving their objectives? their stated objectives, no because they talk positively and pax Americana forever. They're here to manage the transition and the decline which is going to include a very bearish negative event.
30:15 They may try mask that with a false flag attack that will be a Chinese hack or some other form of narrative that will overflow and distract against the fact that this debt market is out of control. I want to just comment quickly on the MOVE index. So MOVE measures volatility. The market is actually trending fairly steadily up at the moment.
30:36 That doesn't always from the volatility index up. Volatility is often when you get moves in both directions that are sizable. If you get steady consistent moves in one direction, you won't always have the MOVE index. That's more a function of mathematics, statistics. why the equity market hasn't adjusted was another good question that you had and it's a question many people asked in terms of the global macro and here's the thing bond markets are clearly not the place to be and in most people's worlds there was a 60/40
31:08 bond versus equity portfolio and this was a flawed fallacy but it was a very popular one and it was a template that suited the post Volcker 80s all the way through On the rare years you did badly in equity, you had a bond bull. Rates got cut. You still got a bit of a yield but the bonds appreciated at the time and that just reduced the overall volatility in your two asset class thinking.
31:37 Now they never you if you go further back there wasn't just a two asset class thinking. In fact, their legacy Italian families are sort of, a third gold, a third property, and a third income producing, whether it be olive trees, equities, you name it. So, gold got eliminated and definancialized.
31:55 That's why it's almost a conspiracy the 60/40. We used to hold gold as insurance against malfeasance by governments and debasement of currency. And we are now in that period where you're going to get the accelerated part. So, I referred to a curve that looks like this. It's almost like a mortgage payment curve. Very slowly at first and then suddenly very fast.
32:14 I refer to it as the Ernest Hemingway bankruptcy curve following his statement when asked how did you go bankrupt? Well, slowly at first and then suddenly very fast. And that's the fiat failure curve as well. And by the way, it's the inverse of that curve is a parabola which is the gold and potentially if you're in the crypto space and it's the new digital realm digital cryptocurrency appreciation curve. So there's real opportunity.
32:39 I'm not just here doomer. I'm doomering the TradFi environment to because it's irresponsible to say. No one there's a reduced appetite for bonds and it's now become mainstream. When I said it, it was controversial and I was the fringe on the 20th. I said we technically have turned. We've all been waiting for this.
33:00 The 90-minute football match against Real Madrid is up. And now you're in injury time and the 90 minutes is two 1913 through to 2020 and we are in the 6-7 year period post 2020 where just the same a small amount of that appreciation in rates yields on bonds is going to blow the whole thing up because we can't get as high as Volcker we don't need to get that high for everything to break in fact it's breaking now and I would argue everybody's tried to call and call and it's been a mug's game for timing, but I'm going out and saying
33:35 within 3 years and quite possibly within the next week, any time between that paradigm, you're going to have a major fiscal event that will feel a bit COVID, a bit subprimey, and there's going to be real shuffling of the decks and we're probably going to have an extended problem reaction solution phase, which could see food, supply chains, self-reliance be very, very important.
34:00 and holding cash while it still counts as money. And probably you might be safer in stable coins than you will have money in the bank. That's something for people to think about. Loads to unpack there. I just I just want to show you one thing actually. There is so this is a chart that you can see my screen right and this is the chart that I built a while ago and what it shows you is a dollar that's been invested in short-term treasuries right at the Fed funds rate a dollar in gold and the green line is the DJI just for sort of
34:35 like the Dow Jones industrial average so just for what equities would look like if we can get rid of this the Dow Jones actually and we can just look at a dollar invested in short-term treasuries and the dollar invested in gold. And my question really is, do you where do you think gold would be if it never had a real monetary property? i.e.
34:57 it was never anchored at 20 ounces per $20 per ounce of gold because there's large obviously there's a large period from 1913 to effectively 1971 where gold didn't go anywhere and money invested in short-term treasuries obviously did. So where do you think gold would be if it wasn't for these two enormously flat periods where it because it acted as a monetary metal as a monetary item it effectively wasn't allowed to move with true market dynamics.
35:28 So yeah, just to restate the question because it was fixed and couldn't appreciate would it be higher for that period? >> Yes, that is yeah much to say. >> I would argue that was actually price suppression artificially induced price suppression. You would have had inflation in other things. In other words, loaves of bread and milk were going up in cost and gold was fixed and that's why it eventually broke because of its scarcity, its rarity and it was clearly underpriced.
35:54 And I when you suppress a market traditionally the it's accepted both as technicians which is chartist and also general I suppose Newtonian laws that you have an artificial and often overshoot in the opposite direction. So I don't think today it would be any different because people are measuring the market in terms of what it is today and what a dollar buys today.
36:19 you, in short, you would have overshot the $800 move that came in the Volcker era, would have been the unleashing of multi-decades of suppression and led to that hyper move that then scared the daylights out of them and then brought in a more subtle but not fixed suppression mechanism that has been in play but is starting to creak because it's less hard.
36:47 It's not a rev limiter that says you're cut at six, but there's been, derivative positions, banks that have had to build losses. There's been there's been more softer, more dark art aspects that I think we're in the process of seeing slowly lose their power just on account of the extremity of the situation. So, they definancialized it.
37:07 They didn't teach gold. They said it's a relic. They tarnished it. They went free float. We who needs gold? Trust us. We the biggest military. We are an attractive place for capital. Now that faith period, remember fiat is derived from the Latin faith has been undermined as it always will be by a lazy fat king who realizes he has great privileges.
37:35 Then you eventually see the attraction come back in for gold. So it was a more subtle pressure. But this is why we are positioned in the antifiat because we feel there's a far higher upside and with everything there's no straight line because some people say well why are you saying that it was 5,600 end of January and now it's only 4,300 let's say and that's because in the same when it went to 800 it had a 30% pullback in the journey path of going to 800 from $20 35 was the new fix they shaved everybody all the citizens on their gold by revaluing to 35 and
38:10 then when that was unleashed you went all the way to 800 but there was again it wasn't a straight line people's >> perceptions have to adjust >> that straight line is highlighted vehemently if you just look at gold priced in Weimar Germany Deutsch marks >> you I mean the vol the volatility like in gold's price during that time is absolutely crazy however if you zoom out you're like okay yes gold was like the only thing you could have held in this environment And I think we're having that's a microcosm. Bear in mind where you said
38:44 Weimar which is a very segment of the German economy. Well, it was all of Germany, let's say, but it was very specific to that region as well. You're now saying west >> western hegemon. The only bonds that are actually going down on yields and up in valuations are the Chinese that roasted themselves on a non-synchronized subprime event that created heat in the economy when they went apartment building when the west collapsed.
39:13 So one of the things that reduced the global depression effect was the emergence of the China narrative after 08/09 in US and Australia skipped through its GFC on account of China just sucking all the iron ore all the copper they went apartment mad some of those were trash and got destroyed as you saw everyone was treating property as a savings instrument and now they're paying off their debts because they've got overvalued property with bigger mortgages than the properties can sell and they're just laboring on
39:45 producing a producer nation that net exports. So they continue to make money and they're paying off their debt. So they're actually detoxing the legit way. The average retail and that at their pain they said that damn, okay, it says on paper it's worth whatever the equivalent of $150,000 that apartment, but now I can't sell it for 80, and they're eating their losses and paying that mortgage down to get back even.
40:11 So they're frugal and they savers and unfortunately the American is not that and they've relied entirely on international support for their debt markets while there's no international support for the Japanese or the Chinese market. This again is the big difference that the hegemon privileges and that support's being withdrawn.
40:28 So that's going to be a lot of hedge funds in the Cayman Island that are going to have to do a lot of lifting. They're going to be like Atlas holding the world. And that's not one that works out well for Atlas. They get crushed. just on I really want to go into the path from where we are today to this kind of like tokenized world and dollarized world that you that you've got in your head.
40:48 I just want to go through that path. But before we do that you mentioned a good point about Australia basically bypassing the 2008 GFC. Do you think there's any pockets of the world where the equity markets are as attractive as Australia was, to be invested in back then? So like protected from whatever could happen.
41:08 Well, you see with the Japanese currency collapsing, it's we've as part of our hey, Japan's rates next. So, we made these big announcements. US debt markets have topped. The only way is down now and this eventually leads to reset. This is the most important seminal call we've ever made. The injury time clock has started. That's what we said in 2020 August on the US.
41:32 We then started watching all nations debt and we started watching the Japanese markets debt and we were there was still very low. It was 0.4 we setups. We started making predictions but part and parcel that I didn't mention in all of that was that we also saw very positive Nikkei structure for equity appreciation.
41:50 So the one thing is the big players in Japan are net exporters and a weak currency is actually beneficial because they then earn dollars, euros, Aussies if they're selling Toyotas, Land Cruisers to you know guys going out back. And we did there's very good specifics and I'll just show you the scale of this call that we made and how it's performing because this is an example of an equity market.
42:15 And the reason why it's interesting is I recently just heard Warren Buffett is very aggressively in the Japanese equity market. So again, let's just bring this up and bring you up the Nikkei. And it still has a target to make according to us. Let's is it JPN? I want a very specific one. And I've already done all the draws on it. I think it was FXCM.
42:38 And we will go here. And there should be some eyes here. We unlock it. Yeah, chins. Wasn't Let's just do Pepperstone. No, it was definitely FXCM. I've done all the draws, but I'm not quite sure why it's not showing. But anyway, the point we can send you an edit from the video. This is this is a couple of aspects we called here inverted head and shoulders being triggered on the Nikkei.
43:11 The neckline was here and then you had a little dip back and this is break. Now we called at 22 and a half 479,000. So think about making that shout at 2020. After it actually just had quite a nasty little dip which was part of the CV19 in the beginning of the year and it snapped back when low vol you went and that is the target very close to 80,000 on the Nikkei.
43:39 This is absolutely ripped. You think about a 22,000. You multiply that by four you're at about 88 and some change. That's about a three and a half x in the space of six years. >> Were you delta neutral on the currency exposure or >> Well, the point >> did you hedge the currency exposure? >> We would if I'm a trader.
44:01 I'm not a global hedge fund manager would be buying the equities and eating the yen loss. So CFDs go long. We had specific equities in there that have outperformed that three and a half. So we went, okay, Japanese equities are obviously interesting. If you're calling the whole index three and a half, there's some that underperform and there's some are going to kill it even more.
44:26 So we'd found Mitsubishi, a couple of others that we'd done with better technical setups than even the index. And again, I found that Buffett had bought one or two of those specific equities. So people graduate to the fundamental knowledge and we are getting there by the technical method because I don't crunch balance sheets on the conglomeration of Mitsubishi but somebody does and they got to the same opinion as we did of technical very very interesting and those have done five or six times so even if you were investing long-term I mean the yen
44:57 has weakened to the dollar over that period but even if you if you're making five six seven times you can afford for to have weakened 30% over six years as a >> yeah I think that's roughly what it was I think about 30% you're still miles ahead of even the NASDAQ by some ways. >> So Japan was an example of one and it's still short of the target.
45:22 So we expect it to go higher and I mean there've been real rips here in that period over there. I'll just bring a bit more of this into view. But I mean it was an unbelievable little run. You just want to be a dip buyer on the Nikkei in essence. So we have a bull bias. We say be a dip buyer and that's where your run up to there just in a short spell 141% 25 April very seminal point that because the KOSPI was at a low there and we've spotted that low so the KOSPI was another one as AI was becoming trend not one for us
46:01 now since head and shouldered you're late to that but these are examples of 141% there if I bring up the KOSPI because of Samsung's huge dominance and SK Hynix. You look at that April 25 run again and again let us just switch off our previous analysis and just show you that April 25 really big moments and we were saying get out get out get out. This is getting peaky.
46:29 You've got a 310%. April 25 that's 18 months to do June 26 it's barely a year. It's a year and two months and even if you were still long now you would still be 200% up and as I say we called a head and shoulder short on that on a lower time frame on a monthly chart now. But so there definitely has been but we remember this is something everybody I would like to remember is equity and you asked one of the things is you we started on this walk around when you mentioned the US equities
47:07 haven't gone down yet properties have started to slide you're referring to the everything bubble asset classes certain asset classes are adjusting remember the dollar is doing some of that adjustment too because it's losing buying power ergo the gold price invert the gold price that's your do your dollar devaluation curve but you still said that nominally at least the NASDAQ and the Dow Jones not particularly adjusted well if you divide it by gold and this is where people need to bear these things
47:41 in mind your Dow Jones where it looks pretty hunky dory and trucking up but if you divide that in gold ounces you get technical structures and you will see that the era for equity is largely done and you are in a correction. There was peak equity. You didn't want to be touching gold before 2000.
48:07 That was a peak success. Everything was financial. Everything was shares. That was peak equity in 99. We have never since recovered it. Now many people will look at the market being higher than 99 and think that's, equity is still the game. No, this is a rounding out. Here we call again a head and shoulder on this.
48:27 This is a rounding out top. You have this sort of double head expression and you're trading down. Now you have had a little rally period because gold corrected quite violently January during this but this quite typical of a neckline break a break and a return move. So we bias again to the gold ounces and the debt base collapse and we say this level will be run.
48:46 Remember sometimes when you see a screening share like this you need to bear in mind there's plenty of downside gold was once in 1980 it's bring a little bit more you can see the scope sometimes for downside far more were you to get to 1980 and 1980 is actually a much smaller version that was Nixon Vietnam war temporary suspending the window and the presidents before him LBJ that were nuking the jungle for the military-industrial complex and Agent Orange and all the sins we blame
49:21 everybody else for. That was happening. You hit below one. We're at 12 ounces, but you were peak equity. You needed 45 oz. This is a log scale. 45 oz of gold to buy a basket of the equity. This is in a rerate downside for me. And this was an extreme period of equity everything and gold is a dumb rock that you dig out of the ground and go put in another hole in the ground according to Buffett and other naysayers.
49:58 So watch out below this takes out that low in my opinion quite some way and I think quite a few things in terms of stop trading will have occurred in the adjustment in that we'll probably be in a new financial system as and when that starts to occur in other words you'll be locked in private credit no redemptions that's called a lockout gated and I think I fear the retail comm even people non-financial they find themselves gated in their own bank accounts and restricted in terms of what they buy during this problem reaction period.
50:32 >> Let me hand back. >> Honestly, I feel like we could talk all day. Francis I'm really conscious of your time actually. Have you got time for one or two more questions? >> Yes. Yes. Go ahead. >> Okay. So, ju just to touch on the on the gold point actually. It is somewhat surprising to be honest that the Treasury market has been able to hold up so well over the last hundred years, right? the Treasury market has expanded about four 40,000x in the same like in terms of its market cap in the same period of time that gold
51:00 market cap has expanded about 1,200x so when you when you sort of like realize that gold's market cap has gone up 1 1200x the treasury market cap has gone up 40,000x the scale is ridiculous and I think it's it highlights your point from the kind of 1980 peak that actually it the effect the ability for the Treasury market and everything else to hold off gold's valuation is somewhat impressive, but it's obviously reversed since you know that sort of 2000 QE era level.
51:35 If you look at as you as you showed like S&P 500 with dividends reinvested has underperformed gold by about 25% since 2000. So you've got the most like incredible companies in the world you could possibly imagine and they've underperformed effectively a metal that you dig out the ground. It is it's something quite something to sort of like wrap your head around.
51:57 But what I really want to nail down to Francis is just the path right if you could do it as simply as you can from where we are today to this dollarized tokenized world. What is the path? How long does that path take? and yeah h how do you see it playing out? Well, there's something I certainly don't have any better idea than you on, but there's a crisis in between the where we are today, which could which has already started in my opinion, but there will be a blowout crisis, an event, like a
52:30 Lehman's moment, which is destined to happen. It's the final straw. It gets named as the event, but actually the entire overloading of the camel in the first instance is the crime, not the last straw. But that's how we operate. We tag things and it just happens to be the unlucky thing that shows up.
52:50 Then you might be a Chinese hack, a Russian hack, a North Korean. So computing and AI is something they really want to bring to the fore. I think they're establishing that industry as too big to fail and they that way they get to proliferate your currency which is basically taxing on you when they bail it out. It's profitless.
53:14 It's been sunk in cost. It's destroyed some unicorns balance sheets, these tech so much so that Facebook has, Blue Owl and these things that can only do business with it and these very draconian terms and it's like a contractor arms length company. It's all it's all toxic bank stories for the proliferation and the development of the larger surveillance grid.
53:39 And I think this is quite nefarious, quite dystopian. And, you would could have online justice. Basically, you'll carry your phone around which has your social score, your tokens, your UBI because they destroyed your job. They destroyed small businesses and aggregated everything up to the big people. That's what happened in COVID.
54:00 You actually had news reels advertising for Amazon about how you could still order parcels from them, but everyone else's business had to shut. We're seeing now new European diktats. If you sell like little ceramic pots to all the European countries, you have to register, pay a charge to sell into their client base.
54:18 I mean, the EU was supposed to be a free trade zone to help trade. What they're actually going to do is if you're selling your little, five or six to every country and maybe one or two big countries that really love your little niche ceramics, for example, as a benign product, you now have to register for 27 countries and the UK.
54:38 And pay a license for each one and do a whole bunch of compliance every year. And, you might only sell three or four to Greece. So you'll just stop supplying and that'll mean, the big oligarchs which will have large bureaucrats department that will specialize in dealing with that and they will hoover up all the business.
55:00 So we're seeing a hollowing out of the middle. They hate the middle classes. You're bourgeoisie in the Bolshevik revolution type world. They want to take your land and your crops. That's kind of how I view it. That's where we're heading. Only the technological option. So, you could have a UBI score when they said the wrong thing on your podcast and they can instantly dock you or dock your credit your UBI personal score, credit score, social score at least and you can't have another coffee or buy a piece of meat because
55:34 you're destroying the climate if you want to be at the top tier where you're allowed to do this. and they're going to segregate society through stratas and hierarchies and everyone's going to socially try to climb a ladder. But it'll be determined by status in terms of that was positive behavior and that was negative.
55:52 So they're going to actually control your language. They're going to control what you hear and say, they listen to you. It's pretty dystopian. So the whole point of that is you want to be self-reliant and you want to have parallel systems. parallel systems of money, parallel systems of ex self-reliance in terms of food energy and then lot of other things and community that don't take government dictate.
56:17 There's a massive difference between morality and legality. They are going to write the laws that it'll be illegal for me to own gold and not have it tokenized. Well, the minute it's tokenized, they want to tax me out of it. And they're going to put monkey money in place and say it's gone up in monkey money when in fact it's probably just held its own.
56:35 And then tax me out of it, so I'm forced to sell some of it to meet the tax bills. That has just orchestrated two legal and monkey money environments that they've created. A legal theft. It's robbery without the gun. And I think we all have to work hard against the most draconian of taxes, death taxes and capital gains taxes, particularly unrealized capital gains taxes where you haven't even made a profit.
57:02 You're not choosing to sell something and they certify that you have in fact sat on a profit again measured in their benchmark which is a monkey slipping down a grease pole. So this is this is a very dangerous asset stripping game and it leads into the world economic forums. You will own nothing and be happy.
57:23 I don't think you will be happy if you have no means to resist state that has ultimate power over everything and they'll start exercising it in terms of life and death and what size population we should have once they have absolute control. So we're talking about the ultimate power. And they will never let you have your own money. That's their big doctrine because the minute you have your own money they lose power over you and that's why I've always said Bitcoin is not your liberty freedom token that's going to upset some crypto guys. But it is an
57:56 on-ramp and starts the conditioning towards a digital dystopia. But pragmatically it's been beneficial to own for those that made hundreds of millions on it. has been beneficial to trade for me and in periods own and I do think that it is the bottom was put in on the 26th of June. So pragmatically crypto is probably back.
58:22 I think it will ease a little bit. We've drawing again I should have some technicals on this. Let's just put the eye on there. There you go. So quite a lot of work because we're watching this but it's almost too much there. I'll turn it off. This is a inverted head and shoulder for us.
58:40 And the you made only a marginally lower low here to there. That's a neckline. This is a head. You could ease for the shoulder a little lower possibly to match this, but it doesn't have to be as big. But that's a reversal. We do volume candles. And when I put this on a daily, you'll see that the candle gets a bit fatter when you have when it's backed by real volume. Let's just do that again.
59:07 And maybe go back up on the weekly. You'll see it. Quite a fat candle there. Let's tidy our face up a bit. Quite a fat candle. And you often get the fattest near the end on capitulation. One, two, and that's probably your fattest candle of the bear market. That was continuation. We always suspect continuation.
59:27 You had a fake rally up to the 81. Key neckline for us there. Let's do it to the straight line. That looks a bit messy. So this points to a reversal. It's come early because this top was October 2025 and everyone's thinking, well, you're not going to turn until at least October. Why does it come early? Well, part of the fiat debasement and the dollar debasement is playing into that.
59:50 Whoops. Sorry, it wants me to lock it. Go away. So that is a reversal that will get Bitcoin going up but we actually say the biggest moves are going to come on the alts and we are currently and we loathe the projects we don't trust it at all but privacy is one of the biggest failures.
1:00:13 We prefer Monero a long way but we've actually calling a quite a big upside move. We're calling for 2,000 now. It's not as controversial now because it's already moved quite a lot but we've been in this trade for quite a while. Let's go three day and just reduce the time frame. But we've called for a 2,100 move for Zcash.
1:00:33 And we were getting in at 500. It is now 1,200. So sorry, you're not getting in on the ground floor. That what our community is all about. But this is the Stella 2,6 on Kraken. These targets will vary slightly per exchange. Not a lot, but per exchange. So through the 21. This is making great progress. That was a great triggering event break.
1:00:55 That's exactly what we like to see. Note the slightly fatter candle backed by volume. And whilst everything else is a little bit soft because Bitcoin might dip for that right shoulder, this guy is had much less of a pullback and in our opinion is heading for there. And we were buying in our midpoint roundabout here.
1:01:17 So this is known as an HVF setup. Big move. Privacy is the thing we like Monero as well. So we have that one of the biggest things you're losing is privacy. Now I think the statists will have the back door on anything that's digital. Otherwise they won't let it exist again. They will never let you have your own money is part of our principles.
1:01:38 So they need to know that. But you might have privacy from your neighbor knowing he goes on to blockchain he might not be able to see that's your money. and you'll get what I'd call localized level privacy. Only the highest people could investigate you and that'll only be a problem if you're of that interesting to them. So, it's a question of that.
1:02:00 So, ZEC to do well. We also on a bigger time frame have a Monero to do very well. We also like Tron and a few others. So let me just show you why I say on a bigger time frame. This structure points to also a very big target in the in the privacy space. We like XRP and XLM for rails on the central bankers but that looks like this and that has given us I think around a 5,000 odd target.
1:02:39 So it's quite some move. That's a big move. I just have to make a little bit of adjustments for that. So maybe another time because I want to run through some other >> Yeah, for sure. >> Then there's Tron is similar technical structure and when you >> I'll have to get you on for a full technical show, Francis, at some point in the future. That would be great.
1:02:58 >> This is going to be quite technical. These ones all have the upward grind in them and they are for on boarding of stable coins as well. You got to think that's going to be very very big. got to bear in mind the dollar has been weakening so this is quite an upward type ascend to it and I think there's also there so I think Tron will do well we think two privacies we think XRP eventually will come back a bit so they will outperform bitcoin we think bitcoin dominance goes down so the other and final crypto comment I'll make
1:03:33 before we finish is in dominance we typically invert the chart there maybe others is a better chart to put on there. >> yeah, I prefer I prefer dominance without stable coins. Generally, stable coins really distort it. >> It does. It's non I'm going to >> Oh, this is okay though. >> It doesn't have the history I wanted.
1:04:00 So, I'm afraid dominance. So, if we invert that, I'll just change that. So, what I'm doing is I'm turning the chart upside down. go ahead. We have a technical structure draw here. So this is Bitcoin dominance going down. This is positive for alts relative to Bitcoin. So going up is positive for alts relative to Bitcoin.
1:04:27 This was nearly 100% when Bitcoin was the main thing and the only thing. That was the 2017 high run. A big move. So overall we see you quite low here. We think you're going to go up and make a third high, come off a bit and then at some point you will break this and Bitcoin will be reduced to a 20 to 10 something assuming >> because this could have overperformance.
1:04:53 So either it will be disappeared entirely or it's overall scale to other tokens will be substantially reduced. So >> that's a big call. >> Yeah. So that's quite a surge that has to happen in tokens that have smaller market caps than Bitcoin. Yeah, >> it's a big >> bullish call for alts which didn't participate much in a bull market this period this last year at all which has been part and parcel but as the debt base collapse accelerates the need for the alternative system is not going to be run on bitcoin. So you will see this.
1:05:29 So I think you'll a get a medium sized run up a bit of a relax and go quiet and then we break for a big surge. >> So ju just on a real like broad level you think that the financial the infrastructure that the new financial system will run on already exists and is some form of token that already exists in crypto? >> Yes. Some of the tokens not all of them.
1:05:54 So there will be some of course which go to nothing that are pioneer projects particularly those that are status blessed and that have been hanging around. You look at Garlinghouse how regularly he's pulled in by Trump and all of this those I doubt those are going to zero. They have a plan for those guys.
1:06:13 I think Solana will do well not because it's the best product. The ADA guys will go mad. They'll say they were better coded better all of the but the point is it's who they choose to trust to run it. It's not always the best project., you come back to VHS versus Betamax in the video worlds. I don't know if you're around for that, but, it's sometimes the one had all the movies, doesn't matter that the other one was a better machine.
1:06:35 If people are buying a VHS to watch movies, you need the one that has all the rights of the movies. You squeeze it out. So, it's kind of like that. so chosen one projects that will which will succeed and most of them are already in the big market cap which is why we've always focused under the crypto sniper banner on the big alt market caps the top 25 mostly in the top 10 we'll talk about Solana we'll talk about XRP Monero XLM Tron most of those are either in the top 10 or the top 15 sometimes something very new maybe can get some
1:07:14 interest from us and that makes it more liquid more tradable more investable as well. So we generally forget penny stockisms and buying something for nothing that goes a 1,000% a thousand times even more than that you there's plenty that can be made in liquid tradable projects and this is going to be a very fertile space.
1:07:37 So I think for now we're going to get a bit of a move up in alts but it's not going to be the main event yet. So this is all coming. So it's quite a far, there's still some timeline before 2030 between now and 2030 for those events to occur. >> And 2030 is your timeline roughly. >> No, I've just we've got that.
1:07:54 It just turned out that seems to be the end of the chart here. And I just >> Okay, fair. >> Like that. It's not perfectly to scale, but this is all the I mean you could I could this could suddenly shoot tomorrow and very aggressively come down quite quick and it could happen fast. Or it could extend.
1:08:14 it could do it could take its time and then go moderately up, take its time going up and then take its time coming down and then pause and go very low volatility and then grow., I can't answer that. I just watch and when it shows me it's ready, I would have a bull bias on this chart. >> Awesome. >> Dominance to against Bitcoin.
1:08:35 >> I mean, that goes absolutely against what I think is going to happen. This is this is great. I mean, I'm excited to get you back on in six months or so to see how it's all playing out. >> Yeah, absolutely. Thank you. >> Awesome. Awesome. Oh, no. It's a pleasure. >> Yeah. Yeah, please. The floor's yours.
1:08:50 Just tell people where they can find you. >> Market Sniper YouTube channel is the best place, but we also have the Crypto Sniper. We're going to be actually upping volume on the Crypto Sniper coverage as well, and I'm going to be bringing some community members on just to mix it up. So, it's not only me monologuing and technical charting as well.
1:09:07 So you'll see some other faces, US guys, not just South African blood without the hair. And yeah, so check it out and there's links there if you want to book a call and become a community member and get what we do before. We see a real reset. Traditional financial advice is not equipped to see you through this. We are non-advisory, but we have our opinions.
1:09:25 And it's also important about jurisdiction. build wealth, preserve that wealth and have optionality across jurisdiction because the west is going to have a real bumpy ride. All of it I'm afraid and I know speaking English many of you will be western based in and Europe. So thank you for having me on.
1:09:45 I appreciate it and see you guys. I'm also on X under the market sniper and the crypto sniper as well. >> It's a pleasure. So thank you very much for giving up the time and guys at home, thank you very much for watching. We'll see you in the next one. Ciao.