Greetings from the Desert!

My Reports on Days One and Two of the America Loves Crypto Tour

Sep 08, 2024

I spent this past week around this type of flora as well as two groups of pro-Bitcoin and pro-crypto voters. | Image source: Cody Doherty

This week, I headed out to Phoenix, AZ and Las Vegas, NV to cover stops one and two of the America Loves Crypto Tour.

In this edition of the newsletter, I’ll first share some quotes from some of the political figures I spoke with at these events before getting into how the Democrats are continuing their assault on democracy and how the yield curve is indicating that a financial collapse is likely near.

America Loves Crypto Tour — Day 1

On the first night of the tour, I met with politicians including US Senator Kyrsten Sinema (I-AZ) and Arizona House Speaker Pro Tempore Travis Grantham (R), and quoted them in the piece below:

Here are some words from Senator Sinema:

“We’ve got to push for policies that fuel innovation so the financial system works for everyday people. We’ve got to make sure that candidates up and down the ballot — state legislatures as well as at the federal level — understand crypto and are working towards a great political climate for crypto rather than one that’s based on misinformation, fear and old-school regulations that hinder the industry,” she added.
Sinema concluded her brief speech with what seemed like a mild jab at the Democrats, the party she parted ways with in December 2022.
“Don’t be afraid to support a candidate or an elected official who takes risks,” she said.
“You all understand the value of taking risks. The crypto industry wouldn’t exist if it weren’t for risk taking,” Sinema added.
“We want to look for candidates who are reasonable but are willing to take risks and speak out against the party line rhetoric that’s trying to stop or slow the innovation of this industry.”

And here are some words from House Speaker Grantham:

“There’s a large group of elected officials who think the government is the solution to our monetary problems, that this fiscal irresponsibility doesn’t matter and that the dollar is going to be the end-all-be-all forever — and that’s just a crazy way of thinking,” Grantham told Bitcoin Magazine.
“One of the reasons [crypto] is becoming so popular is because of what we’re doing to the dollar,” he argued.
For this reason, Grantham felt it’s essential for voters to support candidates who don’t believe in regulating crypto out of existence, and to vote for politicians who support freedom as opposed to those who seek control.
“It’s a freedom and control issue,” said Grantham.
“[Some politicians want] control by keeping everybody married to one currency and not allowing anything else to break through, which crypto is doing. Competition is a good thing, especially when the person who controls the only thing is abusing it so badly,” he concluded.

America Loves Crypto Tour — Day 2

On the second night of the tour, a number of state-level government representatives spoke, all of whom I quoted in the piece below:

Here are some words from Rudy Pamintuan, Nevada Lieutenant Governor Stavros S. Anthony’s Chief of Staff (R):

“We need to ensure that our policymakers and the leaders we elect are those that embrace what we believe in,” Pamintuan, a crypto investor since 2015, told the audience.
“And so in this coming election cycle, especially here in Nevada, elections are going to be won or lost by 1 or 2 percentage points. That’s about 15,000 to 30,000 votes,” he added.
“When you add up how many people in our state are investors in crypto, that number is far greater than the margin of victory.”
Far greater is an understatement, as 385,000 Nevadans own crypto, according to the Stand With Crypto Alliance. This number was plastered across screens at the event for the entirety of the evening.

And here are some words from Nevada State Treasurer Zach Conine (D):

“Amidst all of these exciting achievements under the leadership of Governor Lombardo and Las Vegas Mayor Carolyn Goodman, Nevada has also become a home for innovators in blockchain technology and cryptocurrency,” he explained.
Vinuya then pointed out that next year’s Bitcoin conference will be based in Las Vegas.
“Here in our state, we have a good concept coined by Governor Lombardo called ‘the Nevada way,’ which means that as Nevadans, we never give up, we never give in, and we never stop dreaming,” he concluded. “The spirit of the Nevada Way is alive and well in the Bitcoin community, and we welcome your innovation and big dreams in Nevada.”

Democrats Continue Their Assault on Democracy

Democrats like to argue that Trump is a threat to democracy, and they’re right in that Trump continues to deny the results of the 2020 presidential election, and says that he won’t accept the results of the upcoming presidential election unless he wins. Trump is admittedly a very dangerous man in this regard.

But while Trump is making threats about not accepting the results of an election, the Democrats are actively and illegally kicking their competition off of the ballot. The latest evidence of this is Jill Stein being removed from the ballot in Nevada.

Before Jill Stein, the Democrats went hard to keep RFK off the ballot in several states.

And this is all coming from a party that didn’t even run a primary to select its nominee.

While I don’t know who I will be voting for in his upcoming presidential election, I do know who I won’t be voting for: Kamala Harris.

Yield Curve Un-inversion

It looks like we may finally be at the stage of market activity right before the melt-up.

When The Fed begins to cut rates in September, you’ll likely see the yield curve un-invert, which should preceded a massive rise in asset prices before the biggest crash since the Great Depression.

How long will the melt-up last?
How high will the market rip before the crash?
Will this all definitely happen.

My answers:

I don’t know.
Here are some targets I’m using for my own framework: NASDAQ to 23,000, QQQ to 500, SP500 to 7,000, Gold to $3,000 and Silver to $70. (No idea re: how high BTC might rise.)
No; it’s simply the thesis to which I subscribe.

Before I continue, please let me remind you that nothing in this newsletter is financial advice. I’m not an oracle. I’m simply sharing info from my research. Your financial decisions are yours and yours alone. Don’t message me to ask me what to do with your money.

Also, instead of taking my word regarding what I anticipate to be coming, maybe take note of the fact that Warren Buffett has been selling stocks and is sitting on $189 billion in cash.

That’s all for this week.

Big hugs. Big love. Take it ease.

Best,

Frank

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