‘Get Out’ Before 50% Bust: ‘We’re In Bottom Of A Bubble’ | Clem Chambers

We're in the bottom of a bubble. So ride the bubble. Try to get out before the bust. The market is going to be incredible over the next 10 years, like it has been the last 10 years. It's an incredible time in technology, which is all that counts. There's going to be an economic explosion in the next 10 years. Clem Chambers, founder of a new FN, joins us once more. CLM, I haven't had your back on since I believe the Treasury started intervening in the markets. And uh gold and Bitcoin in particular started reawakening. Gold's been actually reawakening, if you want to call it that, since the beginning of August, late July, when the Treasury first intervened in the Yan market. You'll recall, we talked about that. I think we talked about that right after that, gold started shooting up. And now um and I know you've been hesitant to get back into the crypto markets, but Bitcoin is now at 80,000 79 today as we speak on Friday the 28th. But uh welcome back to the show, Clen. >> Great to be have you back. >> And let me just start with this. We've talked about a lot of different NASA classes, you and I, over the last couple months. You've been correct and calling for a lot of things, including uh oil to go up right before the Iran war happened many months ago, many moons ago at this point. felt like yesterday. Bitcoin though, let's start with that. You haven't liked Bitcoin in a while. Do you like it now at $80,000? It's run up >> incredibly. Yes. >> I've The problem I have with Bitcoin is that you can get it stolen off you so easily in so many ways. And only a couple of weeks ago, somebody stole $100 million in Bitcoin. Yeah. Because some cold wallet wasn't quite cold after all. And I remember being on your show a year ago said there's no such thing as a cold wallet. Oh, what do you mean there's cold wallet? There's no such thing as a cold wallet. And you know, you cannot in my book anyway, the only way to hold Bitcoin would be to in an ETF and who knows their their ETF Bitcoin might get stolen. Why not? Do you can you guarantee that it would sound strange to see a headline North Koreans steal Bitcoin from ETF? Yeah, it's just too insecure to have much of it. And apart from the fact that a close friend of mine got got a knife to his throat in his own house cuz someone wanted his Bitcoin, you know, it's just it's just h no, I don't I don't I don't care anymore. And I don't think it's going to a quarter of a million this time round um in a hurry by Christmas like someone was saying all that nonsense. I think it will go to 40 to 50,000 before it goes up. and it's a four-year cycle and we're only halfway through that fouryear cycle and it's it will likely pull back. The only thing to stop that >> is the fact we might be going on a reflationary run because there's a need for a lot more money supply because of all the onoring and all the AI buildout are intersecting and America's going to need a lot more money supply which is going to be inflationary and the same thing goes for gold. I mean, I like gold more even though I'm not a buyer of it at the moment because I think it will continue. It hasn't bottomed out yet. But last time on the show, I said, you know, dollar cost average, you know, why not? I mean, I wouldn't, but why not at this level? And again, the beauty of a dollar cost average is that, you know, you bought it, you've got some, it's gone up, you're feeling a bit happy, it come back down, you don't care, you buy some more. All right? So, as a trade, I' I'd be short if I I don't go short, and I don't like to trade anymore cuz I'm too old for that game. But, you know, it's going to pull back. They pump the money in because there was start to be a shortage of money supply. You can see that the Fed is also pumping money in. Their balance sheets going up, right? So, they pump some money in. all the all that high beta assets go and then of course they go up and then they go down and then the rest of it goes into the market and the market is where that injection has a much longer term pump effect. So there >> I just had this on my screen here. Um just to illustrate your point about hacking. Uh the Chinese have been suspected by the Department of Justice and then the FBI of hacking uh the Justice Department, NASA and the Federal Reserve and the Senate. So you know, it's not just cryptos that are sensitive to being hacked. >> You can't that way. The only assets that you can steal by hacking is my crypto, which is why I don't care for it and why I don't hold it because it's I don't feel it's secure enough to be an asset. But yes, it you can't take my IBM that way. You just can't take it. It's not vulnerable to that in in anywhere near the same way. I mean, you can steal my house. People do steal houses, but it's really difficult, unlike really really easy with crypto. And if somebody steals your house by doing some dodgy thing with the land registry, you get it back. Yeah. Crypto, no chance. So that is the trouble with with crypto and and Bitcoin. And not to even into account quantum perhaps might hack the whole lot. Yeah. Or for that matter, one of these blooming AI things can go in there and go, "Oh yeah, they by the way, Bitcoin. Oh, we could do this with it. Ah, no. All all your bitcoin are belong to us. Yeah. So the it the security levels in crypto are so fragile. That's my problem with it. Yeah. But in due course there will be in the next couple of three years there'll be a whole new generation of blockchain products that will unlock all sorts of business models and that will be very interesting. But Bitcoin, financial services, gambling, you know, the next wizzy wizzy thing, token that doesn't do anything, meme coins, all that nonsense in the past. I don't believe that that's got much of a future. What has got a future is blockchain enabled, crypto enabled real products that can't be done any other way. And and they are on their way across for sure. You mentioned you don't trade. You don't uh you don't uh do all that. Um >> not so much anymore, said the guy that was trading for liquid a few days ago. >> But you know, generally I mean Yeah. Okay. >> Look at this is this is from this is from banter bubbles. Look at the last month. >> And it's not just Bitcoin. This is I'm trying to make the point that it wasn't just Bitcoin that's been going up. all these meme coins, the smaller altcoins. ETH is not a smaller altcoin, but in this chart here, you've got Doge up 23% in the last month, Trumpcoin up 100%, BTW up 400%, Pump up 157%, Zcash up 74%. And then you got all this, you know, all these all these random meme coins. Pep up 40%. the entire crypto sector is awakening and I haven't seen so much um enthusiasm or hope shall we say in pretty much the whole year and people are wondering whether or not this is the beginning of a renew renewed cycle but here you are saying we're going to go back to 40 to $50,000 for bitcoin so I guess not >> three or four weeks three or four weeks I mean look if the treasury goes out and says right the AI people they need more nuclear power stations and we need to do this and we need to build some of that here's Here's another billion. Then it'll go straight into crypto for sure and then straight back out again. Yeah. So, as a speculative trade, it's the best game in town as long as you've got a decent um platform that isn't run by a bunch of criminals. Yeah. It it's the gambling game. It's the casino. And people love that. People most people a lot of people in the markets, that's all they're there for. Nothing beats crypto for that. And as I said, as somebody that traded Hyperlquid stock on Monday because their their token had gone through the roof on the weekend and their share price hadn't gone up um pre-market. I can I can have some fun with that stuff, but it's it's not going to make you wealthy. >> It might give you a stomach ulcer and it might blow your blow a lot of your cash, but that is not where the money is. Not anymore. When when Bitcoin was $1,000 a coin. Yes. $60,000 $80,000 going. No. Before we continue with the video, let's talk about one of the most critical minerals of our economy, copper. Now, copper grades are declining globally. The majors are struggling to keep their mills fed, which brings me to today's sponsor, Algo Grande Copper Corp. ticker ALGR, and their Adelita project in Sonora, Mexico. Sonora is one of the most established copper producing regions in the world. Adelita sits inside it as a high-grade copper deposit, a type that's increasingly rare and increasingly strategic. Phase 1 drilling has already returned strong results, including 18.2 m at 1.8% copper equivalent. But this isn't a single whole story. The company has identified multiple high-grade systems along a 6 km corridor with geological work pointing to potential large-scale copper at depth. Phase two drill targets are already being defined. The technical team includes Peter Migall of Mag Silver and Raymond Janice of Atex Resources, both with proven track records in this type of geology. Ticker is ALGR. Scan the QR code here or go to the link in the description down below to learn more. >> Do you think Hyperlid is a new onchain uh play here? >> Hyperl is the only one that I'm interested in. It's the only one of all. Yeah, I mean I I bought it and I sold it. I bought it pre-market and then I sold it at opened and you know made frappins on it and it was >> Would you invest on h would you invest on hyperlquid? Would you would you buy gold contracts after hours on hyperlid for example? >> Yeah, maybe. Yes. No. Maybe. I It's worth watching. Look on my channel. I keep telling people this. Yeah. You don't have to buy the balloon thing. Just watch it. >> Yeah. >> Now, okay, if you're not going to watch it, unless you have some, buy some. But watch these things. to watch the exciting things. That's the way to do it. You go, I like this. It's like PayPal, right? PayPal went through the roof down through the floor again today. But when I bought it, which is actually 8% below where it is now, I thought I like I love this stuff. 11p. I love it. So, I bought a load. Up it goes like a rocket. I think it was, you know, got a medium-term long-term investment opportunity there. Comes down like a rock. I bought a load again at 51 this morning because I like it. I'm watching it. I've got a feeling for it. It's going to pay me a dividend, you know? I like that. So, watching stuff is the key here. Not going, "Oh, tomorrow's one is going to be this. Dive in, everybody. Yay. Oh, here's a meme stock. Yay." Watch stuff. Get a feel for it. Understand what it's doing, what it's done, how it all fits together. And yeah, even in crypto, you can make money at that if you really if if you want to, if that's your game, if that's what you want your game to be. But speculation is much harder than investing. And of all the stuff that I would say in the crypto zone that has got significant could do really really well, not will could do really really well. I think Hyperlquid is the one. Coinbase for example, which I used to love, but they're completely incompetent company. So I I won't put my money in a company that's incompetent for whatever the press releases say. and you know, circle. Oh, you know, maybe that's a bit um a bit fragile. >> Um and so the when you you you can't really look further. Yeah, you could go into all the um miners and they've done really really well by not wanting to be miners anymore. It's just a mess. Crypto is just a mess. It's for the birds. >> Yeah. Hey Clen, as we're speaking right now, the uh Federal Reserve is meeting at Jackson Hole. Kevin Warch is making a live speech as we speak. And you know what? You'd be the perfect person to react to this live. Let's let's take a look at this right now. Let me just flip over to my screen to the Federal Reserve website. Actually, this they have a YouTube channel here. >> You're going to risk me. >> Let's just watch a few minutes of this. Let's just watch a few seconds of this. >> Suited to normal times. >> Can you hear? >> How about the new Fed chief commits at a meeting just like this to some explicit reaction function? Surely he could tell us his interest rate path if say the data were to come in hot or cold. Well, I wish our understanding of the economy were so precise as to provide a mechanical tried andrue answer that s some simple function like a tailor rule could be rigorously relied upon. But our knowledge just does not extend that far. At least not yet. He's never so humble. He's >> other factors most relevant to the proper conduct of monetary policy. >> Forward guidance >> change over time providing than in practice better in the lab than in >> you can stop me anytime you have a comment. I am not alone in noticing that forward guidance in 2021 >> they've decided because it's so volatile they're not going to make any predictions and you know fair enough it is going to get really volatile and they prefer not to make any predictions because it's li liable to have things going off the handle left right and center so that's all he's saying I'm not going to make predictions >> but the comments I don't know why okay so this is the this is a live stream so there people can comment live why are these Bitcoin comments. >> It's the same guy over and over. Look at the handle. >> Oh yeah, >> it's a >> wise to be modest about what we can and cannot know as we sit here today. >> In the same spirit, we should receive the full range of ideas on matters that may inform the Fed's monetary policy discussions. If the aim is optimal decisionmaking and it should be, we should not crowd out views on the economy. How then to chart a better path to policy? In the balance of my remarks, I will share with you some key principles that guide my thinking on the appropriate conduct of monetary policy >> and then I'll offer my promised assessment of the economy. So let's turn first to principles. First, I've noticed in this line of work, yesterday's news has a way of getting mistaken for what's happening right now. >> Well, to know the difference. In other words, we must interrogate reality, make sure we're not setting forward-looking policy based on stale or inaccurate data, nor should we rely on isolated data points. >> Trends matter most. The Fed's a decision-making agency. We make choices amid uncertainty and the data upon which we draw must be relevant contemporaneous accurate and as actionable as possible. >> Come on, David. We we can't be listening to this toffee. >> All right. >> I mean, I think I think you know what I'll go through the whole video at my own time and then next time we speak, maybe I'll pick some clips out that are highlights. But I I think so far he's talking about governance, which is nothing new. Um, I know that he looks at trends more than individual data points. Let me ask you this, Clint, if you were him. He keeps saying this. We're not going to predict, >> right? We're not going to predict. We're not going to predict. We're going to get, he just said, we're going to get all this data and we're not going to predict. We're not We're not going to take yesterday's news as today's news. We're not going to predict. Why is he not going to predict? Cuz he can't predict. Why can't he predict? Cuz he knows what's coming. He's unpredictable. There you go. That's all you need to take away. The future is unpredictable. That's pretty wild, right? the Fed comment. What's going to happen? >> He did say that he would prefer to look at trends over individual data points. What trends should the Federal Reserve look look at or focus on right now? >> Well, I mean, it it depends what he'd say and what he's going to be looking at are not going to be the same, are they? >> What he's what he's meant to look at is employment and inflation. What he's going to be looking at is adequate money supply. And adequate money supply is going to be inflationary. You can't grow America out of its current problem by cutting off money supply. You can't you got to have growth. And growth is inflationary. And you can't go around saying, "Yeah, well, we're going to have growth and there's going to be inflation. And all you people that are working are going to do really really well. And all you people that are retired or not working, well, you know, you're you're you're stuffed, aren't you?" You can't say that. But that's what's going to have to happen. I mean, if they're going to un onshore, right? Well, where's the money coming from for that? Where's the capital coming from that? Oh, we we live in a capitalist society, don't we? Oh, yeah. Maybe once. Yeah. Where's the capital coming from? But America's sucking in all the capital to blow it on all its crazy budgets, right? And now we need more capital. Well, funny enough, there's a very simple place to get that from. It's called printing it. So, they're going to print and that's going to cause inflation. And then he's going to say, "Oh, it wasn't me. I didn't do it. It wasn't us." No, no, no. That's coming from there and over there and he did it and they did it and it's in the past and oh, the future. Yeah. They're going to print like crazy. It's going to be inflation five, six, seven%. In the next five, six years. And that doesn't even look at what they're going to do with AI. So, forget AI. Imagine it didn't exist. They're going to onshore the whole of American industry. All that industry that was was exported to China and Asia over 30 years. They're going to bring that on shore. Well, they're going to try. How are they going to do that then? Well, they're going to have to print, aren't they? And then they're going to have to build out AI. there's only $5 trillion worth of printing going on there as well. So, they're going to print like like it's going to go off the dial. And he's saying, "Oh, I can't make predictions because it's unpredictable. And the predictions I'm going to make, they're going to look really bad because there's going to be a lot of inflation. I'm going to stop that." It's, you know, but there you have it. And by the way, I took this job and my predecessor got nearly got thrown in jail by by the boss for not printing money. Funny enough, I wonder what I'm going to do. risk jail or print money. Well, they're actually going to need it. This country is going to need it. He's going to say, "So, we're going to print and then there's going to be inflation and I'm going to say, "It wasn't me. I didn't do it. It's over there." That that guy I said I couldn't predict. I asked somebody a while ago, not a while ago, a couple weeks ago when the Treasury announced intervention in the bond markets, whether or not the Treasury and the Federal Reserve are coordinating. Her answer was no. Um, what's your take? It certainly seems that way on on the surface, but >> how possibly could they coordinate the two biggest financial institutions in America? How, you know, how would that ever happen? >> Yeah. What might be going on is that the Fed might think perhaps that they they're not quite so sure they want to do it. They're not a lap dog, right? They can't just go principal, will you? Yeah. That's not how they're going to want to do it. So maybe they push back a little bit and Treasury said, "Oh, well, we'll do it then." >> Yeah. >> Yeah. That's it. >> Yeah, for sure. That's the sort of thing that goes on. It's just people, isn't it? It's people and politics. The Treasury has got a big print lever and the Fed's got a big print lever. And in the past, the Fed has bailed out America so many times. Yeah. Every time the train nearly come comes off the track, it tries to keep has managed to keep it on the track. And there's been costs you've been seeing in inflation. >> Yeah. And so to an extent in the past there's been an understanding between the political layer and and the economic layer that they're all in this together. I mean nobody in the history of American governance would have threatened the head of the Fed with jail, which is what Trump did. Well, you're going to get a very volatile um you know relationship if you start doing that. And that's probably what they got now. Well, as we're speaking today, uh, >> yes, as we're speaking today, gold is down 1%, Bitcoin's down 1%, stocks are up. Clen, given that the Treasury has signaled that they're going to pulled their print lever, so to speak, since the 19th of August, have you been more bullish on anything? And if you have been, what is it? >> Okay. What I feel at the moment is is that the what's happening, people are taking quite a long time to catch up. >> Yeah. They haven't run. If if you read, for example, the media, everybody's saying AI is rubbish when it's clearly, you know, world changing, for example. So there's a big resistance to what's coming up next, but it's coming whether you like it or not. Yeah. And when it hits the shore, as it will, it's already starting, right? And it it will it will kick off again in in in the as it normally does, and there'll be a big run on it, and at some point it will go mental. Now, I don't know when that's going to be. I don't know whether we're in 98 or 95. Yeah. But somewhere in the cycle of boom bubble bust, we are in the ear very early part of the bubble phase. Yeah. And maybe it ends when Trump um is out. Yeah. Maybe maybe maybe it ends then or maybe maybe it goes forward from there. So at the end of the day, this is all about political will and the political will for America to remain dominant because it doesn't have to do any of this. it can just you know take a bit of a back seat and you know the the the Republicans and a large part of America don't want to take a back seat and that's a highly inflationary positioning and that will mean having to go hell for leather to do something about turning around the tide which you know 40 years ago was was um handing it all over to China and everything that goes along with that and you know bringing that back on shore can't be people can't think that that's a small thing. Well, maybe if they could do it over 40 years, yeah, but if they plan to do it over in a decade, reversing that t 40 years in 10 years, that that's a massive massive undertaking and it has a massive implications and it's great for people that want to be on the sharp end of that if that's what happens. And it's not so great for people that are are not on that particular train. So that's really what people have to think about is do they go allin with the American government or do they try to stand to one side and and um avoid the worst of it or the best of it for that matter. And I I think >> what would you do? >> Well, I'm I'm all in. I'm all in on this because you know pessimists never make money and opportunity is always out there and you know the the fortunes that are made in in during conflict right whatever that conflict is so you know as Napoleon said if you want to um if a soldier wishes to advance himself no better time than war and you know economically it's going to be wild absolutely wild you've already seen it's wild right I mean you can see from the sort of money that AI people are borrowing They're crowding out everybody. They're borrowing so much money. And that's why they're going to have to print because not only will the onoring, we should probably have a slow take up cuz corporations won't want to do it. They say, "No, it's fine the way we're doing it now." Oh, no. Please don't make us all right. Um, but the AI people, you know, 5 trillion, they've loaded up on debt left, right, and center. >> All those companies that are throwing off cash like no tomorrow, they're all going all in. All in. >> Well, let me uh talk. >> And that's your NASDAQ. >> Yeah. the NASDAQ and AI. You know what? Speaking of this, let me bring this to the viewers's attention to those of us who may not be aware of this. Nvidia came out with earnings yesterday after hours and um or was it the day before? Yeah, the day before after hours on Wednesday. Stock went up on Thursday and they reported 106% gain in Q2 over the previous year. So, um the year fiscal year 2026 up to Q2 was 106% higher in revenue growth than the previous year. Now, their filings also indicate that six major customers account for roughly 85% of the revenue. Six. So, about the top two customers, unnamed, they're all unnamed. We don't know who they are. Customer A, customer B, that's what they're called in the filings, account for 39% of recent quarterly revenue. The top four customers, there's major cloud hyperscalers make up to close to 45%. Top six customers in aggregate generate 85%. What's your reaction to the biggest tech company right now arguably and six customers account for 85% of the revenue. >> And what's the max 7 account for the NASDAQ? >> Six customers plus Nvidia is the max 7, right? And what percentage of the NASDAQ is that? >> Yeah. Yeah, that that is I'll have to look it up. I don't know. I'm gonna guess I think it was I thought it was 40% of the S&P last. Do I off the top of my head and is it that much or is that is that high nicks and Samsung in Korea? But anyway, it's a big ass number. >> Right? So there's your answer. But have another answer. Okay. So all those guys are all built on people doing that on keyboards, writing software, right? That they are factories of code. Well, they've just invented software that writes 10 times as much. So is that going to be 10 times the value? Well, it's going to be multiples anyway, isn't it? So, you can forget all the other stuff. And the mere fact that the 40% or whatever number that is of the S&P have just invented a machine that increases their productivity by 5 or 600%. There's enough reason right there for it to be an amazing thing. Now, you could say, oh, now they got five times as much um software capacity. The the cost of software is going to collapse. But maybe not. Maybe there'll be five times as much value added. So I mean the thing about AI which no one's talking about which is the thing that people should be scared about is that the power of AI is directly proportional to the IQ of the user and a lot of people should take stock of that >> and a lot of people get very upset because they go well I can't get I can't get anything out of AI but anyway that is might not be 100% true but it's pretty damn close. Yeah. So there's going to be a bifocation a bigger bifocation of inequality because the the really super intelligent will get a gap so large between the normal person that is will be unbridgegable and I did a calculation it's quite some time ago I did some research into it and if you've got if you're take 100 being the datim point for IQ right if you're 100 you get 10% more I IQ power with AI. Well, this was back about 18 months ago, maybe more now. If you got 150 IQ, you get a third more. So, a normal person goes from 100 to 110 IQ. 150 IQ goes to 200, right? So, the gap just opened massively up and it opened up for the guy that's already way smarter. So, he's gone from being really, really smart to a bloody genius. And the normal person has gone from normal to a little bit more than normal. So that is going to have massive implications going forward and you know they should be teaching children how to be intelligent and you can teach them but never mind I I I I don't get to rule as a road >> tell us more about these implications on society. You mentioned massive inequality. We already have massive inequality. You think it's going to widen? >> No you don't. >> Clem. >> You really don't. You don't have massive inequality. That that's that's I can't remember whose adject prop that is. I think it's um I think it's I think it's Mauist actually prop. Yeah, there is inequality. But do you think Rockefeller wasn't way more rich than a load of other people? Yeah. He had he had two or three trillion equivalent in money back in the day. Yeah. >> And if you go look at Europe, you look at the big houses, nobody lives in them anymore cuz they can't afford to. And if you look at a big townhouse in London where there was one family, it's 16 flats now. Yeah. So that that's all a load of nonsense. inequality was lower after the second world war but before that it was way way higher. Yeah. And it's just you know one has to be careful swallowing all this agit prop from from one's you know enemies. I mean it's out there. You you just saw that thing going on with um um you know u Kevin and there it was all that propaganda going up the right hand side. Somebody private sector propaganda going buy this crypto buy this crypto buy this crypto buy this crypto. You know there there's an absolute pestilence of misinformation out there and you shouldn't swallow all that all the agit prop out of in fact people should do research in the agit prop coming out of different places. Yeah. Why why do you think all of a sudden this explodes here and that explodes there and that explode? Where are these all these ideas coming from? You can trace them all back there. It's all all to be found where they come from, whose methodology it is and you know don't swallow that. Don't swallow that that poison. You know, it it's there's an information war out there and and you're the victim >> and I'm fighting closed off on a So, let's talk about this in more detail next time. I'd like to get your take on how the future looks um in in in in 10 15 years. Comment down below what you think Clen's going to say, but uh just in >> You can say it now if you like unless you've had enough. in a in a minute or less, do you think we're headed towards true socialism, which is that the AI is going to create such massive wealth inequality like you said and everyone else is going to demand UBI and guess who's paying for it? The few people at the top that's generating 99% of the GDP in this extreme hypothetical. >> Okay. Socialism is generated by the industrial complexes of the world where everybody has to be in it together. Yeah. It all starts at school where everybody's homogenized. Yeah. Yeah. And then they're going to cities where everybody has to homogenize quite a lot. Well, this new world is atomized. So, it's going to go the other way. Yeah. So, it's going to be much more people are going to be family individualistic cuz they're going to be working from home. A lot of them. Yeah. And they're not going to be going on the train with everybody or they're not going to be, you know, all having to go to the office and and and muddle up. So, that socialist wave that we're seeing which is reaching a kind of peak, that's that that wave is going to break. Now, now what's going to happen is another matter. But what happens in these situations is the active do really really well. The passive don't do so well. Yeah. So it's all about activity. It's all about, you know, going back to maybe a couple hundred years ago when it was the people that were the the stvers that do really really really really well and the people that aren't in a position to strive. Maybe the old, maybe the weak. Yeah. or maybe the lazy will be doing very poorly indeed. So that's what we're up with. But all these tools are going to be there. If you think of the wealth that we have today, go back to 1920. You live to 50 and you had five children and one of them died. Yeah. Now we live to 80, you have one and a half child children and none of them die. So we've come a long way and we're living in a fantastic world. Yeah. And what's everybody doing? They're moaning and groaning. Oh, it's so bad. It's so terrible. Oh, it's so terrible. That is the ultimate curse that people are suffering from. This this sadness, this ne this neuroticism, this this negativity. And where's it coming from? Trace it back. Cuz that is what is poisoning our society. It's not how much money we've got. It's not the luxuries we have or the health care that that we've got that we never had. 1950 you got an infection, you died, right? >> Yeah. >> All that stuff that is here today, what's in here is the trouble. And where's it coming from? It's coming through here and people are poisoning are being poisoned, right? And that's what people have to stop. It's being poisoned by their environment and their media environment is is what is doing it to them. And that is everything else is secondary. Absolutely everything else is secondary. We've never had it so good and we've never been so miserable. I mean, go anywhere they're mo everybody's moaning. Oh, it's so bad. It's so terrible. Oh, it's moaning. Oh, I mean, good grief. What? That's something that is what is wrong. >> I'll add one comment to this. Um there was a time I think up until now where knowledge was probably information and knowledge was probably the most valuable commodity if you want to call that that a person can have. Think about why you go to medical school so you can learn all these things that the regular person can't and make you more qualified to be a medical professional. Anyway, the point is going forward everyone will have have access to any knowledge that they want. In theory, it's no longer it's no longer a competitive edge just to be able to know something. >> It never was. >> How will you get ahead? >> Never was. You know, all all earthly knowledge has always been in the local library in your town. How many people go there? Nobody. Right. It's the application and the drive to use it that makes the the edge. And so few people have it. And it will still be a rare rare skill for people to want to have it. And there's never been a better time to be able to get hold of that knowledge and synthesize the next level of it because you can push right to the frontier of knowledge in in in in minutes um with the net and with AI and you start synthesizing the next level >> if you want to. But I tell you, if you're if you're normal, you don't want to do that. And if you're abnormal, you do. And guess who's going to win? So, it's all down to people's drive, grit, and determination. I tell you, that's in short supply right now. Just go on to X and see. Positive mental attitude, none. Grit, very little. Determination, hardly any. Apart from the determination to post another negative post about something that's bad. >> Yes. So there's your edge. >> All right. So to close off then we have 50,000 or $40,000 Bitcoin potentially next. What about uh what about precious metals? You mentioned you might like gold more. Um why inflation? We're going to get inflation. We're going to get inflation. We're going to get re-industrialization. Um and and you know the base of the pyramid of value is going to be much in demand. There's going to be an economic explosion in the next 10 years. And most people are sat there going, "Oh, it's all over." Well, they're going to miss it, aren't they? Just like they missed the stock market in 2010. You got to be on your front foot. You got to be looking for opportunity. You've got to be positive. If you're pessimist, you're going to perish. If you're an optimist, you got a pretty fairly good chance that you're going to do really, really well. >> Here's um somebody who's not exactly optimistic on the tech spectrum. Michael Bur's been making the rounds in the news. I'll finish off here. He he shorted Nvidia, but then he bought call options ahead of the company's uh uh earnings report as a hedge. So he's he's bought he disclosed on a Substack shorts against Oracle, Palanteer, Nebas, Caterpillar, total short positions now exceed 21% of his portfolio, but then he buys call options on Nvidia. H what do you think of this play? >> It was good in the movie. So, look, I mean, you know, it it's um I I just I just think if you're going to be short, you're going to be dead. And you know, if you're a pessimist, the worst the the least that will happen to you is you get left behind. >> And you know, there's a lot of bitter people out there who who who read all this doom porn and got left behind. And and the further they get left behind, the bit more bitter they get, right? Well, you've got to get up and get going. if you can. If you can't, it's it's going to be tricky, right? But if you can, you should. And you should at the end of the day, if you if you if you're an optimist, at least you won't be walking around the place like I I was yesterday in London and uh with people with long faces. Yeah. They're living in their own personal house. And you know, there's big things a foot. This AI is an absolute colossus. And if you grasp it, then you can be you can you can get on that train, right? If you're positive, optimistic determined gritty you'll do great. And if you're if you if you just go on to X and read all that rubbish, you will want to th jump out the window by the end of the day. And you know, don't do that. Don't do that. The market is going to be incredible over the next 10 years, like it has been the last 10 years. It's an incredible time in technology, which is all that counts. And you know, there's lots to go wrong and even more to go right. And in the markets, there there's never been uh that's that's what's going to happen. And we're in the bottom of a bubble. So ride the bubble. Try to get out before the bust. >> Yeah. It's all it's all there to be had. It's this is not a commercial email this, you know, people are going to hate this. They come on to the internet to be told that everything's terrible so they feel comfortable again. >> Get out to what? Final question. You're wearing the bubble. Get out to watch cash. >> Well, get get out before it bursts. And you know that that is the only thing you really have to be focused on. Try to understand how far along this bubble we are. And you know what will be the good time to um take your money and start counting it rather than you know putting it in in in trouble's way. But we've got a long way to go. And I mean I I think two years is is kind of where we're at. But, you know, when the prices start to go vertical and everybody's saying what a genius they are, >> I'll be saying get out, >> but we're not there yet. Not that for a long time. >> Not yet. All right. Ride the way for now. Clen, thank you so much. Where do we follow you? >> Well, you can see me on Substack. Um, and I'm sure a lot of your your viewers have already seen me there on YouTube. I'm I'm I've got a new UK channel for those that are UK orientated, want to know about UK stocks. I'm still doing the stuff for the US, which is really good. Clemch Chambers Alpha and that's on Substack and and on YouTube and you know having a lot of fun ranting about all these things. There's there's so much opportunity out there and there's so many overlooked stuff and and there's so much opportunity if you're looking for for to make if you look K-shaped economy, right? You want to be on that part of the K, the up bit, not the down bit. And you know, by being passive, you are condemning yourself. And by being active, >> you you are in really good shape because there's a fork in the road and we're at it. >> Clen, thank you so much. Please do follow CLM in the links down below. Clen's a regular in the program and uh we'll expect to have him back again soon. And also CLM has a great YouTube channel besides a Substack. Go watch him talk about his ideas there as well. Thank you CLM. See you soon. >> See you soon. >> Thank you for watching. Please like and subscribe.