Good morning everybody! I'm headed to the gym as you can see by My Adidas tracksuit in today's video I'm gonna come out you very very raw. No edits with six things I saw today which I think you should know about. And first, let's start with Credit Twist. Now as you know, credit Twist was sold to UPS sold is a little bit of a broad definition because it was, essentially, um, shoved down the throat of UBS.

Let's put it this way, but now new allegations come out which somehow are even worse than what we already knew about Craigslist. So a few Bankers are now saying that after Credit Suisse admitted and paid fines for actually helping Rich Americans evade taxes illegally in 2014, the bank still kept doing it and did it for years now. It's not shocking when it comes to Credit Suisse because it's literally their MO I made a whole video talking about it. But the fact is, the audacity this bank had to admit to pay a fine, it is still keep doing that.

That's insane. That's another good reason why Credit Suisse is now being swallowed up whole and UPS is now going to basically replace it. And I think the Swiss government just wants their memory of this Bank erased at this point now. Elon Musk Important stuff.

Two things about Elon Musk Number one: Elon Musk and Steve Wozniak The co-founder of of Apple are now coming out and saying in an official letter that AI should be paused. Development of further: AI should be paused for six months because it's just too dangerous, too risky, and we have to assess the risk to humanity. The speed of this thing is absolutely insane. If you saw Chat Gpt4, this thing is absolutely mind-blowing and we're just barely scratching the surface.

Now my thoughts on what Elon Musk is saying here are kind of bifurcated. On the one hand, there's no doubt in my mind he's right about the potential risks to humanity by this thing. We also the movies. We know how Terminator happened right, but on the other hand, I also know that human greed it trumps everything.

And look at the end of the day, if this thing makes money and if it makes companies more profitable, people are going to pursue further development. No company in the United States or anywhere else will pause and stop development of Further Eye. And if it makes money, it's just not going to happen. The only way this can happen happen if the US for example says no, we're Banning it and Regulators basically ban this.

But that's also never going to happen because the U.S Regulators are pretty much the US government and the U.S government knows well there's a AI race China Russia India they're all developing their own AI Well, we can't you know? Stay back. So there's going to be this Armory arms race in the AI which effectively this the letter is not going to do any much difference, but I think Elon will be on the record warning us from this from the dangers of this thing. But Effectiveness can't see any. A Bitcoin is at twenty eight thousand dollars.

That's a 70 Spike year to date. So where what year to date? Four months, seventy percent four months. Not too shabby, but also very, very dangerous. And I'll explain this thing.

First of all, I Think people kind of confuse Bitcoin with cryptocurrencies in general. I've always been very clear that Bitcoin is in a whole different level on that spectrum of cryptocurrencies. I'm not familiar with anything else. Bitcoin is so entrenched in Wall Street and with bankers and it's just too much part of the system, Bitcoin might fluctuate, but Bitcoin isn't going anywhere.

The rest of the industry don't know, don't care about never going to touch it. Now here's the thing. on the other hand: no I just told you we have Bitcoin isn't going anywhere. It's a long-term investing in Bitcoin.

You know it's not. It's not a bad idea, but you never want to invest in something when it's spiking 70 in three or four months now. Of course it can Spike another 70 in the next month for sure and then you miss out. But as a general rule, even though sometimes it costs me a lot of money when I see something going parabolic like this, I stay out I Don't want to invest in anything after when parabolic.

Even if I lose another parabolic rise, it's just a good kind of rule to have in life. Same thing for NVIDIA Nvidia is up. what a hundred percent of the past year or six months, Whatever that may be. Great company, great long-term investment.

It, you know, as a long-term investment, it's terrific, but it probably or might or even there's a good chance it will do another 100 in the year. Who knows. But I don't like to get into these crowded trades when it already spiked a lot like that. So that's one of my thoughts on Bitcoin.

Saudis are now signing a new deal where they're a dialogue partner of the SEO which is the Shanghai Corporation of organization. An organization that I honestly don't know what it's supposed to mean. No, I know, but I mean like practically I mean this is a political defense Alliance headed by Russia and China and a bunch of other countries that a little bit smaller. Now the Saudis haven't fully joined, they're now a dialogue partner.

Whatever that's worth. And look, I know a lot of people are getting off on this idea of the US dollar being destroyed China and Russia taking over. A lot of people have made money arguing this. A lot of people emotionally get off of the startup.

Oh, the end of the US Oh, you can all sit the down it is said. what's happening here? So the Saudis are playing the Chinese for leverage. The Saudis are deeply deeply involved with the US They need U.S money for further development of their own industry. They need the US for for defense which China cannot provide.

They need U.S money to transition out of oil into an actual economy when oil actually runs out. The Saudis and the U.S are deeply deeply involved. even though they may not like each other. This a little flirt with Russia and China is another leveraged play to get U.S to give them better terms.

They want to help with their stuff with the some security issues they want better. you know, more leverage, more respect. Etc et cetera, It's all it is. China simply cannot provide neither the financial or the political or the military defense that Saudis are looking for.

They'll dance the dance, they'll flirt, the flirt. But that's all it's going to be. Sorry. Go ahead, hate me.

In the comments, all the China Fanboys I don't mind. Um, so one thing that came out really interesting is that the apparently everybody's not asking. well as Silicon Valley Bank collapsed Signature Bank collapsed First Republic Pretty much collapsed, right? How did the FED not notice this right? How did the FED miss this? Well, the simple answer. Now we know.

So basically all of these Banks did this little label change on their accounting procedures, basically labeling all their bonds that were in a huge loss position as long-term holding bonds. which means they're holding to maturity by their own statement. and thus they don't have to report none of the unrealized losses on these bonds. And that's how they hid 1.7 trillion dollars of losses on realized losses.

and I think it's a major failure for the FED I mean these guys are getting paid to dig a little bit deeper if somebody should have, you know the FED should have said hey guys, all these banks are hiring almost two trillion dollars of losses by labeling it long-term holding I Mean we should probably look into this. Nobody did another kerfuffle from the FED Congratulations! Uh, One last thing, Elon Musk is now saying well now you have to pay for Twitter Blue if you want to appear on the for you page and vote on polls. Overall, it's not a bad idea to get some cash flow through the door because a lot of people will sign up as some people will go away because I mean they will get annoyed by that I think it's a very dangerous game I'm still undecided if it's a good idea or a bad idea. Look, there's this old fabled about the farmer who had the golden golden egg laying Goose Every morning the goose would lay this golden egg and he got so rich.

Eventually he kills the goose because he wants to get all the eggs out right away. He doesn't want to wait but then you know there's nothing inside by only guts and then it's over. He doesn't have any more golden eggs. So if you're pushing hard for more money from Twitter users, that's fine.

Just be careful. be careful you don't kill the goose. That's all I'm saying. so it's a very dangerous game.

Let's see how this plays out. Just my fifth sense about what's going on today. Love you all. If you haven't yet, make sure give a kiss and a hug to all your loved ones today.

Nothing ain't guarantee this world, you know. Just make sure you stay positive, stay motivated, and I'll see you in another few hours when I make my evening video later.