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The crypto crash has made many victims. One of them is Justin Bieber who took a shocking 90% loss on a stupid bored ape NFT he bought at the height of the craze.
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So I got two quick things. One was just a China update and then I’ll go to crypto. Regarding the China thing, I called in about the chips a couple weeks ago. There was a commission in Congress that just did a report recommending 39 points on Tuesday. that I just found out about on Monday. The first thing was to normalize trade relations with them. which would basically look at reintroducing more tariffs. trade not sanctions but restrictions and things of that nature. and the second one that I’m aware of is looking at the potential of sanctions if there was a potential invasion of Taiwan or any kind of blockade or something like that. I haven’t had a chance to look at the other 37 because I just found out about them. they’re traditionally pretty hawkish on them but I thought it was relevant since they’re the ones that recommended the chip in itself. so I thought I should bring that to your attention. Thank you, yeah. Well, let’s be able to take a look at that. will do. and then crypto? and the other thing was the yeah the crypto thing. I was just watching somebody else this morning that was making the potential argument that there could be a Black Swan event. where this is I thought it was very good that kind of coincidental fortuitous that Jacob Silverman was on today to talk about that with FTX. and he was talking about how many Echoes of the great financial crisis there were. with the deregulation securitization lack of Regulation led to all the different structures that led to that crisis. and those same things are happening in the market right now. and kind of the entire crypto industry is based on that regardless of which. Mitch I mean hate to correct you but I think I brought that up. but that’s okay. well, you did. you did. I mean I thought that it was very cool that it coincided. yes. yes. I just thought that it was very interesting that this could have a ripple effect. and I was wondering if you know exactly how much further this could proliferate in the industry.
