US to Buy BITCOIN with Trump Tariff Money?! | Britcoiners by CoinCorner #166

Transcript

We're leading the way in victory. Want to stick to this agenda?

Yeah.

No, I'm sorry, guys, you'd rather me-

Hello guys, welcome back.

Hello, hello, hello, hello.

Always throwing me off there a little bit.

This has been- Hello, crack on.

Britcoiners, episode 166.

Uh, agenda this week: we've got Trump dropping tariffs, Liz Truss on Bitcoin, UK school accepting Bitcoin, Trump and reciprocal tariffs, Tether Bitwise report, Bo Hines weighing in on ways to buy Bitcoin, and an update on the Oklahoma Reserve bill.

And Dave - an update from the Bedford conference.

Oh yeah, and Mikey. Mikey was there as well.

Oh, and Mikey, yeah, yeah. Save that little bit till last.

Mmm.

Mike, do you want to come and sit here today and do that, and I'll swap seats?

No, it's okay.

Do you want to do this?

I'll control - someone having epileptic fit, I'll be switching between two places [Laughter].

Okay, kicking off with the price then.

The current price: we are $83,000700.

Yeah.

How's that over seven days?

Up - up quite heavily over seven days, actually.

Any reasoning?

Trump backing down, Trump losing the old tariff battle.

Trump negotiating.

Is that what it was?

You call it negotiating.

Call it - what do you call it?

Losing.

But how - what do you lose?

What do you lose? Respect of the American people?

No, you're losing the negotiation.

It's a negotiation - whether you win or lose, it doesn't matter. It's still negotiating.

Okay, this is his tactic to negotiate.

Yeah.

You might win.

You are clinging. You are absolutely desperately clinging.

Do you think this is all a big tactic?

Oh, of course it was.

He's lost so much face.

Did you - you missed that.

He's lost the battle.

He's lost it.

Definitely was a tactic, but I think it's backfired. I mean, the yield thing has just absolutely blown up.

So, I was about to try and say - you were in too late last week.

Me and Zakk were talking about that, 'cause we were in early, and you're never here.

So, me and Zakk cracking on.

Wow. I was - I was barely here last week.

Did you miss it?

I think - I think you might have missed it, and we might not have spoken.

I wasn't in. I was only in Monday, Tuesday last week.

So, after the bond market went to [ __ ] -

Went the wrong direction, basically, to what everyone was expecting.

They started going up because the rest of the world's markets were [ __ ], and they were selling treasuries, effectively, to cover themselves in different ways.

Or we believe that, I guess - there's no evidence.

China, for quite a while, have been reducing the amount of treasury holding.

I think other countries were just doing it as well.

Why would you buy more American treasury if Trump's in charge?

So forget that for a minute. Just - we'll come back to that, if you want to go down that argument.

So they were doing that, which meant the treasuries - 10-year yield went from like - it went down to about 3.6, did it?

Which we looked at last pod. But it went back up to like 4.6.

Biggest day with seven-day increase in decades.

Yeah, so when it did that, he then came out with easing off on the tariffs and doing the exemption stuff.

Yeah, he bricked himself.

So yeah, let me finish.

So he did that, and then - I don't - this is the bit that I think - I don't know if you saw - he then straight - that next morning, straight after that had all reversed or started to reverse, he's put a request in to fire Jeremy Powell and the Fed and basically clean out the Fed.

Because he's not allowed to do that. He has no control over it.

He's put a request into whoever it is - I don't know who it goes to - to basically get rid of him, because he knew that his plan on bringing the bonds - 10-years down, which would then force the Fed to decrease rates - that backfired because of what happened on the global markets, which meant the Fed don't then have to, like, force down the rates.

They may do it in May 5th, which is the next one. It looks like they probably - it's looking - the odds are in the favour of bringing that down.

But he wanted it to come down quicker.

So he's now looking to get rid of the Fed.

And that's gone -

Replace him.

Replace him with - well, if you remember, pre-election, Trump was saying the president should set rates, and the president should be in charge of - like, sit on top of the Fed, which is absolutely criminal.

So the tariffs were part of the way to force the Fed's hand to reduce the rates, which is what the plan was. That eventually has backfired, but that's it.

Backfired. He jumped on to ask for requests to fire the Fed...