Thank you I will send you the kingdom What are you doing? Step emotional damage All right Gooney 's hey hey hey hey, what is going on? what is going on? what is going on? Welcome Back to the Monday night show of the Matt course show and we have a lot of fun stuff to get into. As you can see from the title of today's particular stream, they're back. Elon Musk has made the decision to unban some very, very popular Infamous well-known accounts on Twitter so we're going to be getting into that and some of the approval, but also some of the dismay. and then from there we're going to talking a little bit about the world's most favorite Mouse and some of the big shake-ups at Disney And then we gotta get into probably a major segment of today's show which is going to be did U.S Regulators did U.S Law People did the Congress of the Us know about FTX and then from there we're gonna put a bow on the whole thing by talking about just a little bit of the overall Market what's going on with oil and some of the maybe basic Trends and things you should know about really the Thanksgiving trading week and also really a reminder of what's going on for the remainder of this week and how things might be shaping up for the final month of the year. I'm talking about December Man oh man oh man I can't hey, it's almost Black Friday And as you can imagine, there's going to be a lot of big deals out there. and if you were with me on this morning show, you know that I was feeling pretty good. I mean my Sunday I was relaxed I was recharged I was ready to rip it. and then sometime between this morning and now I'm not gonna lie I think I'm just gonna end up becoming another statistic I Can I can feel my sinuses? You know, you know how you know you're about to get sick Like it's just something in your throat. It's something in your sinuses. It feels like I'm going that way. which makes per today's particular stream sponsors uh, just that much more timely. So before we get into all the big news, a very quick shout out to Brick House. Uh, if you don't know what's going on with Brick House Basically, they've been my health partner a little bit lately. Uh, you know that I'm trying to be a little bit more healthy, a little bit more fit, and maybe you were interested in it. Hey, your boys down a little bit over five pounds right now. A little good diet, good working out. Uh, but obviously with Black Friday you can get a pretty amazing deal. just so you know all the information is in the description of the video. It's also pinned to the top of chat. But folks I've been telling you how much I love the product from Brickhouse Nutrition. You literally see me drink it every single morning. These are the absolute best ingredients that go into everything they make right now. Brickhousenutrition.com once again pinned to the top of chat, they are having a massive Black Friday sale. Everything on the site is 30 off which includes their number one selling product Field of Greens That's exactly what I'm mixing. But don't forget they have those caffeine pills. They have those interesting like meal bar type of things. a lot of options. Check it out anyway, which includes their number one selling product Field of Greens The superfood powder is packed with the perfect balance of fruits and veggies. I Take the product every day and I highly recommend you add it to your daily routine. You'll love it! I mean I've been on it now for two and a half weeks I've liked every second of it. Kick start your journey to better health during the biggest sale of the year. Go to Brickhouse Nutrition.com and enter the promo code Health H E A L T H to get 30 off of everything Brickhousenutrition.com Promo code: Health Brickhouse Nutrition.com Promo code: Health Obviously shout out to them for sponsoring today's stream and now that we got that out of the way, let's take a look you see at the market. S P 500 Falls To start short Thanksgiving week I'm going to remind you now and a little bit later in the Stream but please do not forget Thursday Market is closed Wednesday is a half day of trading so basically no one's going to be trading. So really this week, especially if you're an option Trader Monday Tuesday Wednesday Nothing going on on Thursday half day on Friday In terms of my personal schedule, if you wonder where I am and where I'm not, I will be doing my normal streams Monday Tuesday Wednesday and then I'm going to film other content throughout the week that's going to get posted on Thursday and Friday. Just so everyone knows, I Can't quite let the bat cat out of the bag right now, but we're gonna be filming on Wednesday evening. A amazing interview that is gonna get posted on Thursday So when you need a little bit of time to avoid your family, you'll have an excuse to watch it. So once again, that will be posted Thursday Thanksgiving Day Big big interview. Can't tell you who yet can't let the cat out of the bag. but I Have a feeling you're really, really going to like it. U.S Stocks and lower to start short week as China's Rona cases weigh on growth Outlook So obviously this is just representative of less demand. That's not a good thing. Also, it could severely hit the world of crude oil petroleum. We're going to be talking about that in a second, but I just want you to remember this. So a couple this thing Weighing on oil but also on stocks for those of you who a little bit more of visual Learners Uh, even though the market was read today, for example, lots of red in the watch list. not as obvious in certain sectors. So basically what we had today is a lot of weakness in the big names. Apple Google Amazon Tesla Energy got really hit. We're going to be talking about the Kingdom of Saudi Arabia and what they said and then didn't say and like the kind of the bouncing back and forth quite a bit going on there. but uh, overall even though it felt like it was a really red day, the S P 500. there's actually as you can see quite a bit of green. what was not green in fact what was the exact opposite is Crypto as I alluded to before. we're going to be taking a deeper dive into the most recent updates related to FTX what is happening there, what isn't happening there and I'm gonna try to tie that all together attempting to answer the question of did U.S Prosecutors did U.S Regulators no Did the US government know what was going on? Uh, there's definitely some inform interesting I I'm not a lawyer so I Can't say like definitively yes or no. but uh, if we're just looking at the evidence, if we're looking, if it walks like a duck, quacks like a duck. um some eyebrows are being raised to say the least. As you know, before we get into any of that though, I Love to share three things that maybe you just missed on the internet today. Maybe in the hectic nature of your life, you just missed out. And this brings us to the first thing that you probably missed. Now, if you've been with me for any of these shows, you know this is abnormal. Even for me. you know this is hyper abnormal. Even for the Matt core show, you might be thinking why in the world is he showing a multitude of photos of Texas Roadhouse Buns? Well folks, the way everything's going in the world, these puppies are going to be the last thing that have any value. You might be thinking I'm being facetious. Maybe you think I'm being sarcastic, but I'm simply not. Texas Roadhouse has outperformed Google over the past 10 years. If you don't believe me, look it up for yourself. But from 2012 until now, you would be better off invested in Texas Roadhouse the finest restaurant establishment on the entire planet than you would have in Google Let that sink. in fact, check me. I Fact. checked myself like 18 times and then I realized why am I doing this? Because we all know the amazingness that is Texas Roadhouse Buns If you ask me, they're beyond worth their weight in gold. So just interesting thing you might have missed today. This brings us to number two. just another crazy story. In 1979, a woman named Elvita Adams attempted to commit suicide by jumping off the Empire State Building She jumped from the 86th floor but was blown back onto the 85th by a strong gust of Wayne She survived. Do you realize how crazy that is like truly to hop out? and then the wind just pushes you back on the next level. You know how strong the wind has to be to push a human body back in? Ridiculous. Absolutely ridiculous. Hey, the more you don't And this brings us to number three. I don't know what this says. oh I guess I could just translate it when you have a really good descent. I Had to watch this video I was probably 0.5 of the 3.5 million views just because I found it to be absolutely insane I'm not quite sure what animal this is, so if any of you are um, I don't know zoologists or something and can tell me what it is I think it's like, uh, like a mountain goat or something. but check this out. this is not sped up. Please keep that in mind. this thing is booking it. Look how fast this thing is ripping down an entire Mount I Don't think you could ski that fast I Don't think you could snowboard that fast. This thing is just ripping. What is that? And there's people just hiking up right by and trying to do the exact opposite. This thing is cruising. cruising. Look it just hopping 30 feet at a freaking time. Dude. goats, man, what are they gonna think of next? What are they gonna think of next? Anywho, those are the three things that maybe you just missed on the internet today because it is obviously a vast ocean. and I just figured the interesting things that stick out to me I love to share them with you. And that brings us to today's first story. they're back. The only thing Elon Musk understands about Twitter is how to kill it now. Is this right? A lot of hate being thrown at Elon in particularly Twitter and how things are going. A lot of people saying hey, that hellscape you didn't want it to become it is becoming a hellscape. But quantitatively, on the other side, we're at the max usage Twitter's ever been. And yeah, you could be looking at some of the craziness of his first takeover. or maybe FTX in general. or the World Cup Or maybe it all comes back to the people who were previously banned on Twitter who now have a second, some of them a third or fourth opportunity to use the platform. and basically everyone is there just rubbernecking trying to figure out just the insanity that is currently going on. So let's rewind to November 18th. There was a poll from Elon Musk and 52 voted to bring the former president Donald J Trump back onto the platform and because more than 50 voted yes, the people have spoken Trump will be reinstated. This happened Saturday night, but it wasn't the only one we're going to get into that. but this meme made me laugh way way too hard today. I Mean we're at this point where: Donald Trump has a big psychological decision. Does he care about finances? Because if he does, he has to stay with True Social. He has to stay there. He can't use Twitter at all. and just so you know, that's what he says he's doing. But on the flip side, I Think it's pretty safe to say that he has a pretty inflated ego. He he's a megalomaniac. I mean I'm no psychiatrist, but I think that's a pretty fair assessment of the current situation. So he's being tempted and lead us not into temptation. So after he's brought back, just just so you know, at this moment in time, Donald Trump has not used. Twitter Once again, he is keeping himself away from that screen. but the fact that Elon's now trolling him after it absolutely hilarious. He wasn't the only big mover over the weekend though. CBS CBS News I should say said hey, we got to step away from the platform, but unlike Trump, they had no self-control and they decided to come back in a meter 40 hours. They couldn't even make it two full days after pausing for much of the weekend to assess the security concerns. CBS News and Stations is resuming its activity on Twitter as we continue to monitor this situation and then of course, getting trolled by Elon right away. CBS News Why can't I quit you and then he put himself in there I Mean it's trolling like this is some top tier trolling now. Maybe there's a fair argument that this could be bad for the absolute fabric of society? That's a fair argument. But in the meantime, at least we get to laugh while things burn. But as always, it just can't stop at two stories. Here are the suspended Twitter accounts that have been reinstated since Elon Musk took over. So obviously we talked about the previous president Donald Trump and that happened over the weekend. Uh, Marjorie Taylor Green This was actually just announced like in between this morning and now. so she's back on she's a representative Andrew Tate Uh, he became Infamous for his cancellation so he's now back on Twitter Jordan Peterson Author Teacher: Uh, he's back I'm back. thanks Elon with the here's Johnny The Babylon B This account is back Kathy Griffin was back and then Elon decided to Banner again from being a parody of him. and then this brings us to: Kanye West This particular one blew my mind because he was back, got banned, and now he's back again and that leads to an insane development today where he thought it was appropriate. I I Can't get through this man he tweeted Shalom This dude tweeted Shalom he came back like I mean we all know he's like out of his mind but like dude, this is next to your stuff Absolutely wild. And then we got this video. Kanye West is selling his Balenciaga collection for only twenty dollars a piece. The clothes will feature an exclusive Yay 24 logo on them tweeted from No Jumpers account today. Uh Kanye just doing Kanye things like just Dudes office rocker I like I truly truly believe that, right? So this just dropped today after he tweeted Shalom like okay, wild, just make sure absolutely he got the nation in Israel to respond. just just ridiculous. Absolutely ridiculous. So as we saw in Poltergeist they're back and it's just continually. It's not just turning the internet upside down. What Elon likes to do is almost like a kid and putting something in like a box and just continually shaking it. It's not just one 180 degree turn. This guy like the goat slash sheep, whatever the hell that animal was at the start. he took it and just threw it off the mountain. and that's what's going on in the internet right now. Truly truly mind-boggling Another surprise that took many, many people out of like nowhere. Like another surprise that many many people were thinking what just happened Disney's board's decision to replace Bob Chapek with Bob Iger makes everyone look back. So just for you who maybe don't know uh Bob Iger was the previous CEO and then back in June they got rid of him and then they brought in JPEG and then now Chapek's already out. Now at first you might be thinking well, yeah, I watch your streams I watch your shows I know what's going on? Uh, it's because the company is not doing well Disney misses on profit in key Revenue segments Warns: streaming growth could taper. uh, their earnings per share. It was a brutal Miss 30 cents versus an expected 55. that's a large percentage, especially on top of the fact that you're giving weak guidance in the future. So that happened not too long ago about two weeks ago. and then as of last night early this morning, we know that Bob Iger is now once again back in control. But I actually think that the story goes a little bit deeper than this. I think it's uh, just the fact that people don't like Jpeg. Uh, Bob Tapix Disney angered Scarlett Johansson Florida's governor and More in his two plus years as CEO Uh, he just basically pissed a lot of people off. Uh, earlier this morning I was reading some tweets from a guy that I like to track and see what's going on Charles Payne from Fox Business and his thesis on this was basically Jpeg. tried to Institute more of a woke ideology within the company and then obviously the stock hasn't been performing well and you might be able to argue. well. Hang on, there's inflation. the overall Market's not doing well. so is it just that. Uh, obviously the board thought they were underperforming, even relative to the market. and then that's why they got it. They gave him the boot and got Bob Iger to come back. So some wild wild stuff there. But as I alluded to with reference to the overall: Market Yeah, the market hasn't been doing the best this year. We know year to date is down 17, so no longer technically a bear Market But a lot of these companies are facing serious serious problems. Uh, for example, if you look into any major Tech plays, uh, meta if you look at Google Microsoft Apple they're all down quite a bit. I mean Tesla right now is unfortunately vomiting like EVS getting its teeth kicked in. So I think the truth is somewhere in the middle? Uh, Jpeg with Disney Did he make some poor business decisions? Some leadership decisions? Uh, there were many interviews this morning that were talking about how he just wasn't good at hiring the right people. That's also probably true. And then when you put that into the situation of the whole, Market is underperforming. uh, it looks doubly as bad and that's why he was unceremoniously kicked out. But speaking of the overall, Market because hey, once in a while we talk like to talk about degenerate trades. and Investments a big question right now is yes we are down 17 year-to-date That's not good. So A question on your mind might be, well, is it time to invest again? Is it time to do something with my money? No, obviously. I'm not a financial advisor. Hell, I'm not even an expert Trader and I'm definitely not. Clairvoyant But I Wanted to share not only my own thoughts, but some of what's going on in reality. I Think these headlines really do a good job at explaining where I think we are in the current bull market bear Market Type of a psycho. The S P 500 is likely to bottom out early next year in a terrific buying opportunity for investors. I Don't even think this is that impressive of a call out I Think it's something as basic as don't fight the FED In 2021 when everything was ripping to the High Heavens it was because the Fed was supporting him. They were at their computers creating a lot of funny money and they were pushing the market higher and higher and higher. In totality, they created 8.9 trillion dollars out of the thin air. And then as of January 4th or 5th the start of this year, they said, hey, we're going from quantitative easing to quantitative tightening and that puts downward pressure on not only the economy, but also the stock market. And guess what's been going on? we've been going down. So basically I'm not necessarily looking for the FED to support the economy slash the stock market again, but I am looking for them to stop pushing down on it and that time frame is exactly this. Most likely we're going to get two more rate in increases, which is still very hawkish and for the point of this discussion, still kind of bearish. So we're probably looking at a 50 bips in December probably looking at a 25 bips in to kick off 2023. and there's a good statistical argument that after that point we're just going to coast and as soon as we Coast or maybe I'll front run in a little bit. That's when I'm looking to get back into some of my key Investments such as Apple Microsoft Google Tesla even buying more crypto, those types of things, that's what I'm looking to buy on discount. So in the short term I think there could be a bit more pain. but if we're talking later 2023, 2024 I do think things will get stronger sucks, could fly about up to 10 in the short term. and the next question facing investors in 2023 is how bad earnings will be and then so we have that of like okay, we're going down, but we might be bouncing in 2023. and then on the other side we have some extreme optimism. Wharton Professor Jeremy Siegel says the stock market will surge 20 percent in 2023 as the FED acknowledges falling inflation. So yes, we have a whole the whole Gambit of optimism of pessimism excuse me but in reality, as many many things in this world, the truth is probably somewhere in the middle. No one perfectly knows. If they tell you, they perfectly know. It's probably just a lucky guess if we're all being honest with each other. But in general, not necessarily for active trading. But if we're talking about investing, it's a very very rule Good rule of thumb to just not fight the FED If The Fed is being supportive. Be with the market if the Fed's not being supportive as in the central bank with their monetary policy because remember, even though they're not elected, they have an ID ornate amount of power. If they're going against us, that's not the time to be throwing money into it because we're probably going to have a little bit more pain. So just some wild things to see there. and we are unfortunately seeing this in the world of retail play out in real time. People are stating to close brokerage accounts which is counter The Narrative So right here. September 2022 There was at one point many, many accounts opening, but you can see recently um, retail has been showing a little bit of weakness. but I Strongly believe when we see the economy and the market and remember, those are two distinct things. Just so you know, Rule of thumb, the stock market tends to bottom out before the economy does. They're very correlated, but not the exact same thing anyway. Uh, when we start to see things bottom and things start to rip again I Bet we're going to be back to these absolute rips where so many people want new accounts. Um, this brings us to an interesting discussion from Bill Ackman Billionaire Investor Bill Ackman which I believe his fund is Pershing Square Warns the FED will struggle to crush inflation in higher long-term interest rates could hit stocks. That might be a fair assessment, but one word of caution I Want to put out here to all of you is a lot of times when big, well-respected people get to do their interviews. Most likely they're just talking their book They're not. Maybe maybe they're telling you what's genuinely in their brain, which genuinely in their heart. but also this is the exact same guy who right when the world was going. Belly Up In 2020 he had the performance of a lifetime. He could have won an Oscar He went on and basically shared a story about with his father and how the world it was all doom and gloom and what wasn't At first the parent was right. before that he put on a massive short position and he cleared billions of dollars for it. So basically he used his sway because he knows people listen to him to really make a shitload of money. So in this particular statement, might he be right? Might he truly believe that? Yeah, that's 100 totally possible. But what's also possible. is the fact that he might just be talking his own book and he might still just have on a large bearish AKA short position and he's a guy that kind of goes back and forth on his word. For example, bringing this to the whole FTX situation I don't know if you can quite see this or not. can I zoom in I Just want to make sure this is, uh, appropriate, large. There we go. This is now a deleted tweet, but this is two. Sam Bakeman free. You know the Mastermind of probably one of the biggest Financial meltdowns ever. Uh, he quote tweeted remember: Sam Bakeman Freed he had the I'm sorry, that's the biggest thing I effed up and should have done better. Uh, even though it cost people billions and billions and billions of dollars and he's now acting like a complete sociopath as if he did nothing wrong. oh Bill Ackman Once again, this is now a deleted tweet, but you can find it on the Wayback machine. You have to give Sam Bateman free credit for his accountability here. I Don't know any of the facts, but I never I Have never before seen the CEO take responsibility as he does here. It reflects well on him and the possibility of a more favorable outcome for FTX official I mean dude that looks so bad I Don't know any of the facts here and it ends up most likely being one of the largest financial scams ever. Ever. Ever ever. He's like hey, you gotta give him you got to give him credit. He said he's sorry that that's going to put the money back in everyone's Pockets who were inappropriately harmed by this fraud and just so you know, in case there's any lawyers or anything listening in on this when I say fraud I just mean it in my own mind I'm not a lawyer I don't speak legalese I don't have any evidence of fraud but based on my own Googling of the definition of Fraud I just think it looks like fraud so I'm just invoking my Amendment of free speech and not my like right of being a lawyer or saying I have any particular legal knowledge by any means I I Want to make that clear to any lawyers or people listening in right now? So obviously the FTX situation absolutely wild and you would not believe the turns that it took today. But before we get into that, a quick shout out to Enviro Cleanse. What if you could skip the latest Rona strain and take a hard pass on catching this year's seasonal fluid, You do it right. Well I am with Enviro cleanse the new science in home air purification I Can't help but think I mean if you were here at the start of the show um from this morning until now I've been getting sicker and I you could I can feel it coming out and I can't think I've only had the Enviro Cleanse now for about a week and a half in my home and I just wonder what if I had it earlier? would I actually be fully good right now? I mean I just got the thing unpacked and plugged in and just running. Uh, but it makes me think if I had this running a little bit earlier, would your boy be A-Okay right now Enviro Cleanse never does this. They just announced a massive a Black Friday discount, but supplies are limited so you'll need a hurry. Here's what sold me on: Enviro Cleanse of the air circulating from room to room in a home from a family member to family member including holiday guests is a breeding ground for viruses and germs. that's how colds, flus and Rona take down the entire family I am also a person who just has allergies and just from my look into this company, what the difference is: not only does it filter out larger particulates such as allergens I Guess biologically viruses and germs are quite a bit smaller and this is exactly why Enviro Cleanse is the one trusted by the government and submarines many government buildings. hundreds of thousands of classrooms. Apparently this is some very top tier technology. Enviro Cleanse Advanced Mineral Technology kills microviruses, germs and bacteria and other purifiers. Miss That's why there are over 300 000 Enviro cleanse units in classrooms and why the Navy chooses Enviro cleanse to scrub the air on board Navy ships and subs and with the Black Friday discount, you'll save 35. Just last week when I was talking to you about it, it was 10. but for Black Friday they are running a massive, massive deal. 35. Uh, get it. fast. Free shipping! Visit EK Airsale.com and use the code Rumble Once again, this is all pinned to the chat. it's in the description of the video in case I'm mumbling, but just so you know, that is Ekairsale.com Use the code Rumble R-u-m-b-l-e-ek Airsale.com Use the code Rumble Now shout out to Enviro Cleanse and they obviously have other products Beyond just their air purification. so check it out Once again. uh, pin to the top chat in the description of the video. but let's talk about some of this other craziness. Let me get this set up. Unless you've been living under a rock, you know that something a little bit crazy, a little bit funky, a little bit out of the ordinary is currently going on in the world of crypto. Maybe you don't know the exact details, but you know that there's some sort of negative meltdown going on and you probably know that it's associated with FTX I've personally been covering this story literally every single day and every single day it seems to get a little bit more. Bonkers So what I want to do in this video is give you the most recent update the developments as we're heading into the Big Turkey Day. but I also want to top on one very important point. did the U.S Regulators Congress People did people within power in the U.S know that this whole situation was going to go down in a very very bad way because we just got some information from the powers to be particularly in Manhattan that they allegedly knew something was up. Here's exactly what you need to know: Bitcoin drops to a one-week low either side seven percent as FTX collapse ripples through the crypto. Market Unfortunately, this is the story that just keeps on giving and it's the exact same thing with the crypto contagion that keeps on spreading. Just for a little bit of framework around this conversation as I'm filming this, Bitcoin just broke through a very important support in the mid 15000s and Ethereum is currently trading just above 1000 specifically 1100. But as you can see, it's also at a very important support level. The Bears are showing up and they are showing up with some serious aggression collapse. Crypto Exchange FDX owes top 50 creditors over 3 billion According to some new files. Yes, recently there were some new I guess court filings and the number one creditor uh, they are now down 226 million. The top 10 to 13 are all right in the range of 100 million People got very seriously hurt by this whole thing and as we have seen particularly on Twitter, it seems as if Sam Bakeman freed the disgraced ex-ceo doesn't seem to care. He seems as if he thinks he did nothing wrong. even though three billion that is billion with a B is just Thanos snapped. Into The Ether I mean absolutely ridiculous I mean things are so bad that it's to the point of Joe Biden President is no longer following Sam Begman freed and this is going to be important because it's going to tie to some of the other parts of this particular video. Uh, basically because we know Sam Bankman freed the company FTX but also SPF himself on an individual and a corporate level were both large large political donors mainly to the Democratic party, but just to be fair here to give you all of the information they did donate to both. We're talking about 38 39 million dollars in the midterm elections and also there was clear public commentary that they were going to donate up to a billion dollars in the 2024 presidential. Run Please keep this all in mind as we get to the end of the video. So over the weekend this was a big deal. Grayscale won't share proof of reserves, citing security concerns. You might have heard of Grayscale before. maybe you heard of G BTC So like BTC Bitcoin but with a G in front of it. What you need to know, particularly here, is Grayscale was the first company that set up a trust. It's like a fund where you would invest in the trust and then the trust would go out of their way to buy Bitcoin for you. So it wasn't direct ownership, but it was kind of the Prelude to hopefully creating a Bitcoin ETF uh not the exact same thing. it was a trust, not an exchange traded fund but very similar. I Just wanted that out there because a lot of these big players had Gbtc and people were kind of concerned about them like well hang on, are we safe and then all of a sudden Grayscale was like no, no, we are not going to give the proof of reserves as in people Then all of a sudden saying whoa whoa whoa whoa whoa were you not buying Bitcoin with our money? Is this another like crazy thing going on? Grayscale cites security concerns for withholding on-chain proof of Reserve So this story started to develop and if you looked at what was going on with Gbtc, it was just going down and it was going down very very rapidly because it was just another situation in crypto that like wow, the contagion spread and it's just taken down another large player. but then I Almost out of nowhere early this morning Coinbase had a post that said I know this is a little small so I'll read it to you very quickly. The digital assets underlying each grayscale product have their own on-chain addresses. As we use client by client custody segregation, the digital assets underlying each grayscale product always belong to the applicable grayscale product. So they're saying Coinbase came out almost in defensive grayscale and said, no, no, no, we're good. They must truly not be showing you proof of reserves because they're worried about security. But other than that, like Coinbus was saying, hey, they are good to go. So right now that's very much like a shrug of a situation. People are kind of wondering who has the money, who doesn't have the money? A lot of confusion there, but it's leading to some other big players who allegedly had a lot of Gbtc Now crazy things are going on. So just last week, Genesis which you've probably heard me talk about because they're related to Gemini Gemini had an earn program that was being run by Genesis and Genesis also was on the hook with FTX for about 170 175 million dollars. Well, last week on November 8th, Genesis Said with regard to today's market events, we have managed our lending book and have no material net credit exposure. In addition, Genesis has no exposure to any tokens issued by centralized exchanges. We continue to meet the needs of our clients around the world across all products. So that was just on November 8th and then Bada bing Bada Boom! We're hit with this today. Crypto Brokerage Genesis Warns of bankruptcy without funding. This happened within about the past well hour. Now if you're watching this live with Me and then this is just getting so wild just in, We have no plans to file for bankruptcy imminently. I Mean you could fairly be thinking right now watching this, what in the world is going on At first, they say they're fine, then they say that they might have to file for bankruptcy. in between that, they're like, okay, we have to raise a billion and then honestly, in between all these stories, they're like no, we don't need a billion, we need 500 million and then they say yeah, we're gonna probably go to the bankruptcy and then they're like now, now we don't have any plans to file for bankruptcy imminently Honestly, it's a fair question of are they just saying oh no, no, we don't mean tonight, we just mean tomorrow I Mean this is so so wild. So obviously many players have fallen in this whole thing and Genesis is one that appears to be on the current like chopping block. but I don't know, there might be a speed run from Silvergate. From those of you who don't know about Silvergate, there's a lot of crypto firms and in the US there's pretty much just two main crypto. Banks You have Silvergate and you have signature. With respect to Silvergate, you have the Silvergate Exchange Network S-e-n which basically just allows all these crypto firms to kind of move money easily. But once again, Silvergate Signature major banks for right now we're talking about Silvergate which is a crypto bank and like I said, this might be the one who's trying to race Genesis to the line of just meltdown in the world of crypto I want to quickly play this for you? Uh, from Mark Cohotis? uh I've had the pleasure of interviewing him before and honestly with the craziness going on in Silvergate I am going to invite him back on. but I just want to play this for you because this might be the next player that is no longer going to be in existence and there's something else that that came to my attention on Friday that I want warn people about and it's a stock and it's called Silvergate and it's simple S-i and they're the financial so-called bank that allows all these transfers and things to happen. and they have about 14 billion dollars with a B in deposits and they're largely from these offshore entities and get a load of this. They transfer last year one trillion dollars between these offshore entities and customers, one trillion dollars off of 14 billion deposit base and this name was brought to my attention by who I think is the best bank analyst on the planet next Porter Collins of The Big Short Fame and he thinks during the process right now of having a run on the bank and they put out some bogus press release on Friday saying that FTX was only a billion dollars of their deposits and they didn't have any loans to them in the and the stock went up after ours Friday But as Porter said to me, it's a deposit story. It's not a loan story. If they lose all their depositors, there's going to be a run on the bank. It's not just FTX either. So I mean that's the whole point, Is it? It's not. It's not FTX They do business with the worst of the worst and and the crazy thing is these guys are so stupid at SI right? The CEO's son law was the head of risk so they figured out something was wrong and and before FTX went bankrupt this is what they promoted it says this is from their website it says Life as a crypto firm can be divided up into before Silvergate and after Silvergate it's hard to overstate how much it revolutionized banking for blockchain companies and that was endorsed by Sam Bankman Freed founder and CEO of Alameda research and FTX it's crazy and they put this thing out saying it's only a billion dollars of deposits. Well if there's a run on the bank in the U.S government wakes up or the treasury wakes up and they start kicking the tires of of this Bank They're going to realize they have no Kyc on right now which is know your customer or they have no AML on right now which is anti-money laundering because FTX is a criminal operation cut and dried and if they were doing all this business for FTX look at what happened to all the banks that did business with Madoff and things like that. So this is serious ass shit and and the fact that they put out a press release on Friday to try to Hype their garbagey ass stock you know real guys reached out to me and said can you believe this and I said it's absolute dog shit So I am short SI I think SI is garbage and they need to be called out just like FTX needs to be called. So from that which I personally believe one day will all be proven to be true. It is evident that between these crypto firms and really these crypto Banks seems like they're all in cahoots with each other they are I mean it like I said I feel like every day I'm in just a hellish Groundhog Day where every day it's repeating. but somehow it's repeating and getting worse and worse and worse and the fraud is becoming more and more and more evident. like I mean just check out this headline ether Falls as the FTX hacker dumps 74 Million worth of token and swaps it for Bitcoin this in the insanity of the current FTX Meltdown debacle whatever you want to call it. This is like a little footnote: the fact that right when all this was happening almost 400 million dollars right around the bankruptcy, they left and they're like oh yeah yeah, we just got hacked. like do you realize how crazy that is and now the person's actively selling And they're not necessarily manipulating the market, but we're seeing the impact of their actions on the markets. and this is like a little footnote that just I guess does a good job at highlighting and showcasing how truly insane it is. But this brings us to the final question of how I started this video off was, how deep does the rabbit hole go? How many people really knew, and how many people in positions of power knew? So just to kind of put a tie on all of this: U.S Prosecutors open probe of FDX months before it's collapse long before Sam Bateman Freed's FTX Cryptocurrency empire collapse This month, it already was on the radar of Federal Prosecutors in Manhattan The U.S Attorney's Office for the Southern District of New York led by Damian Williams spent several months working on sweeping examination of cryptocurrency platforms with U.S and offshore arms and had started poking into Fdx's massive exchange operations. Folks, We live in a very real scenario where probably one of the largest scale Financial schemes ever went down and apparently the U.S attorney's Office was already looking into it. Did they alert the public? No, we already know that. FTX Particularly Sam Bakeman Freed had meetings with Gensler Did anything happen there? No. In fact, we have people within Congress accusing Genzler of helping FTX get a regulatory Monopoly This is so insane. They meant multiple times. It's on the Chairman of the Sec's calendar that they met Gensler earlier this year said hey, people should be a little bit worried about crypto. It looks like people who are running exchanges are trading against their own clients. so a little bit of a warning there. but the people who had access to the information who could kind of look into the black box and make sure that everything was running above board. Where were they? Where were they in this entire thing now? obviously I don't know, but I can let my imagination run and where it runs to is the deep, deep connection between what was going on with FTX and our elected politicians. We are talking about millions and millions being donated. We were talking about elections that were running on the money that came from FDX which we're now finding out was inherently stolen from its clients I Pray that these regulators and Congress people and really the watchdogs for all of us us. Average Joe type of people aren't so corrupt that they turned a blind eye to it. but I think at a certain point we maybe have to digest reality that that could be it. That is a very feasible Avenue for this to be I Guess the insanity that is currently unfolding in front of us right now now? Obviously it's a little tin foil hat. It's a little bit, maybe too deep into the rabbit hole. but also that doesn't necessarily mean that it's wrong. And because of that I Want to know your thoughts? Please let me know in a comment below: Do you think that the only reason this got so bad was because the people who were supposed to protect us was turning a blind eye? Or do you believe that they simply truly did not know? and it's more of an embarrassment that they couldn't catch up and recognize what was going on right under their nose? Please please let me know to wrap the whole show up just so you know. important call outs: Zoom Just reported they beat on EPS they beat on Revenue but they had pretty low guidance so right now it's red in post Market before the Market opens tomorrow we hear from Best Buy Dollar General Dicks. Um, those are all going to be important to know the strength of retail Traders Uh, we also had in terms of macroeconomic reports, we had Fem Fed members speaking today. they're speaking again tomorrow. We have a slew of things coming out on Thursday the main thing being initial jobless claims. Uh, just so you know, market closed on Thursday in celebration of Thanksgiving Day and then it's a half day on Friday Which means that the market closes at 1pm. but most people are going to treat it as if the Market's not open at all before I. Get to the final thing of what's going on with the kingdom in Saudi Arabia and Biden And oil. Just so you know, I'm not going to be streaming on Thursday and Friday but I will still be posting content. We're gonna get a surprise big interview for you that will be posted on Thanksgiving Day Just so everyone knows. And this brings us to our final story: Oil Slides six percent as OPEC and its allies said to be discussing the partial reversal of production cuts and increasing output by up to half a million barrels per day. Now, this doesn't take a brainiac to figure out if demand is roughly the same and then you increase Supply Price has to go down. Now this all came out on a day where okay, they're increasing Supply. But remember early in the show how we were talking about how Rona was apparently spreading more in China Right now, that means demand can go down. So if demand's going down and supplies going up, obviously you're gonna see a big hit in price. And that's exactly why Oil had a pretty wild day. We went from about 80 all the way down to 75.50 and then it ripped all the way back up to 80.. and this part of it might make sense to you. You might be like okay, I get it, demand down Supply up Price has to go down. but why the rip? Well, pretty much right. after this came out, we got an announcement from the Kingdom of Saudi Arabia That said, what the hell is that report? We're not considering that at all now. Obviously one of these parties is right and the other party is lying I don't know who. but as soon as they came out and said no, that report's completely wrong. That's exactly why oil started to rip back up. Now on the daily chart we were talking about this in the super secret cold streams. Make sure you sign up for locals, it is free. use the code Moon gang All one word I drew this out a while ago of hey, we have some Port we have a region of support between 74 and some change and 76 and some change and I was saying I bet we go back down into that and then pop off of it. So as of now, this thesis is playing out just so you know I'm still very much long on oil I'm playing it through the world of Occidental Petroleum ticker symbol o x y Uh, my average is around 67 68. So I'm a little positive right now, but the fact that we retracted so quickly makes me feel a bit optimistic. Goldman Cuts Oil forecasts on lack of clarity over G7 Russell oil price cap China Rona outbreaks So they had to lower their forecast of the price of oil. They lowered it by 10 to 100. so we're still trading at 80.

at first they were calling out for 110 and now they're saying okay, we still think it goes higher, maybe not just as high as we previously thought. So with all that in consideration, I'm still very optimistic about my current oil investment I Want to be very clear with all that and I just wanted to really cover this because many people were kind of confused. They're like hang on a get white oil drop but why did it have it such a like a brutal jump back at the end of the day and it just comes back down to this Kingdom of Saudi Arabia saying hey that report is stupid All right, All right, all right, that's what I have for you today on this episode of the Matt core show. Uh I'm happy to stick around and do some Q A with all of you I would like to remind all of you if you haven't already. uh, make sure you hit that like button. make sure you hit that subscribe Button as well. Uh, liking on YouTube helps with the algorithm liking on Rumble I See a lot of people on Rumble right now. That helps us out with the battle leaderboard just so The Goonies can fight it out with all the other communities on Rumble so make sure you're liking and subscribing on both. We're actually about to hit 53 000 on Rumble So if you're enjoying this type of content, kind of a wrap up of what's going on in the world of financial developments and also a little bit of breaking news, this is the spot for you to be. so. like. And subscribe on both platforms and while I'm waiting for some of the questions to come in. Don't forget, you can also get a a free sock on public that's somewhere in the description and we were talking about it quite a bit this morning. But if you want to free stock anywhere from three to three hundred, no payment for order flow, no market makers. A little bit of social media aspects where you can see what your friends and family members are invested in my accounts at that underscore course. so you can see what I'm invested in, what I'm buying, what I'm selling uh I Do think that the social media part of it, it's kind of interesting to see what maybe some of your favorite people are doing or aren't doing all right. With all that being said, tremendous news source. Thanks! I Appreciate that. December 14th Market Structure change Market Uh Nikki Nikki Ricky uh. Depends what you're particularly talking out about. Do you think Coinbase might be next in the FDX tornado? Very real possibility? Uh, I'm not saying definitively yes I have a little bit more optimism for Coinbase and Gemini because they are established and they operate in the US So that means they are under more strict regulatory scrutiny opposed to something like FTX that was running in the Bahamas. Um, so I'm a little bit more optimistic, but it doesn't matter in this sense of just take all your crypto off exchange. Do self-custody Uh, self-custody You can have a hot wallet, cold wallet. The difference there is. is it connected to the internet or not? Um. But whatever it is. Look into things such as trustworld. Look into things such as metamask. Those are self-custody Look into things such as a ledger. Nano X That's a cold wallet self-custody So even if they go under, you don't lose your digital assets. Um, Coinbase right now as a stock ticker symbol C-o-i-n I think is a very, very difficult investment. Uh, especially just because. well, it's getting beat up. Very very bad. But right now, if you look at their 2028 debt, I mean you could get a 17 yield. So like, why keep your crypto there where you could potentially get nothing, Where you could get 28 and then if it goes under, you're still in an accredited investor opposed to uh, being like unincredible or non-accredited Um, Coinbase. It's a tough investment right now. Like if we're looking at the stock. But regardless, if you're talking about it, doesn't matter what exchange you're talking about, don't keep your crypto on Exchange Self-custody is the way to go. Uh, did you know that Taiwan is moving a major semiconductor plan to Arizona I Did not know that, but it probably makes sense because that's why Warren Buffett Just plowed four billion dollars into TSM 27 drinks for 27 years, 12 drinks down. Wish me luck. Uh. everyone. once again a shout out to birthday boy Billy Our monitor or moderator from the north looks like he is almost halfway almost halfway with his 27 27 years, 27 drinks 12 down. Love to hear it. Uh, how low will BTC go in your opinion? Uh I think we're talking about the range of like 10 to 12.5 uh is what I'm looking at. That's when I would start buying more. What else do we have? uh Woodstock is cool for Unique gifts Woodstock Like the area in New York where they have that famed concert I Kind of grew up close to it about 45 minutes away. uh I Went to many, many concerts at the closest, um, ample theater called Bethel Woods Tesla please. Uh, Omar Tesla is not looking good currently trading at 168. I think we're falling to 165 potentially Gapville all the way down to 138 currently in the short term. Bearish on Tesla but in the long term I'm still invested in the company. Uh, if we all love move to a small town we can elect Matt as our Congressman that would get wild Are you worried about a food shortage and a global drought? Uh, yeah, but not in the short term. How low will rub? Go Rum is currently trading at 9 22. I Don't know the answer of how much it's going to get beat up, but it's just a victim of the overall market right now. I mean everything on my watch list that I'm looking at is very very red. I still have my rum and like I said, it's a long-term investment. Please understand there are long-term Investments And then there's active trades. Do I Want rum to go up every day? Of course I want it to go up every day because that's how I make more money in the long run. but in reality, the day-to-day movement, even the month, even the year. It doesn't matter to me because I'm holding the stock for many years. So I'm not going to get caught up in the minutia of day-to-day movement when I'm focusing on decades out. Uh, will there be War soon? I Very much hope. Not very very much hope not. That wouldn't be no bueno the opposite of Bueno. In fact, all right looks like the questions are slowing down. Uh, remember if you want to show a little bit of love to Field of Greens and also Enviro uh we have all that all that stuff pinned to the top of chat in the description of the video. 30 off, 35 off. so some awesome Black Friday Deals That's it for today's episode of the Matt Core Show. I'm about to go take as much day quilt as I possibly can and hopefully I'm feeling a little bit better for tomorrow's show. 9 A.M Bright and Early You better be there or you're going to be a square. So I appreciate that. We'll be posting some content later on this evening and then we're going to be streaming tomorrow morning. 9 A.M Bright and Early I Hope to see you there. Other than that, have a Beau youthful evening Peace out.