World In 'Threatening State' Warns Former Bank Of England Economist | Charles Goodhart

[@stefanbrown622]

This man just can't stop uploading

[@EikTuKaTu]

Higher taxes and climate change. Another WEF stooge, but what would you expect from a UK economist, country is going belly up.

[@defunctuserchannel]

Exactly. I'm glad to find your comment, a person who is not a mindless sycophant.

[@prolific1518]

Aka you're ignorant.

[@jcgoogle1808]

Exactly. Finally and intelligent comment. Regardless of anything else he says that might make sense,... Anybody,... especially an economist,.. who thinks governments who spend trillions on "climate change" is a worthy endeavor have no credibility. 1. They have no science background to know how it works,.. ignoring the facts that a. the climate has been changing for 4 billion years b. man evolved as a result of climate change in eastern Africa, c. CO2, which is supposed to warm,.. NOT "change",.. is no more the sole control of the "climate" than the number of cows is, d. the climate sensitivity,.. that is the change in temps as a function of a doubling of CO2 concentration,.. credible climate scientist say is 1 to 2 deg on a doubling from 300 ppm to 600 ppm,... which would take 100's of years to achieve,.. I mean after 100 years CO2 concentration has only increased 0.01%. Let's forget, water vapor is the most abundant and powerful green house gas in the atmosphere,.... Temps vary 30 deg F or 15 deg C every day 265 days per year.. Do we call that "climate change". there is nothing a 0.01% change in CO2 could do that the 5% to 100% water vapor in the atmosphere wouldn't have already done. If it takes another 100's for the next degree as a result of CO2,.. we can adapt as did the apes who evolved into humans as a result of slightly warmer temps. We have adapted. Most of the population lived in northern climates before the invention of air conditioning. The world would much rather have warmer temps than a snowball where everyonedies of starvation. And that was the goal of Svante Arrhenius when he studied and developed a relationship between CO2 concentration and temperature changes which is basically delta T is proportional to alpha x ln (C/C0), he wanted to encourage the world to emit more CO2 to try to warm the planet. e. that whatever the government would theoretically be spending on would net any real change in temps,.. rather than what they're really spending on,.. which is far left ideology,... things like "social injustice" and allowing men to go into little girl's bathrooms,.. ,.. and demcorat vote buying. The is nothing the government can spend money on to stop the periodic El Nino or La Nuna that results in periodic dry and wet springs. 2. There is no economic or sovereign or humanitarian justification for it. Just see Germany and Europe, who dove head first into the deep end of the "climate change" pool only to relinquish their national security to countries like russia, china and India,.... who couldn't care less about their CO2 emissions,.. in particular reducing them,.... they build the equivalent of several coal fired power generating plants per week,..... while the rest of the world ignorantly All in spite of John Kerryflying around all over the world in his private CO2spewing jet asking russia as they're committing all kinds of human atrocities andwarcrime in Ukraine,.. to please do so with an appropriate regard for "climate change". HUH??????????????? So spare me the insane uneducated regurgitations of the clueless "climate change" alarmistcult,.. lead by people like Kerry and uneducated childbrat Greta Thornintheass,.. who now has wandered of the plantation and now flies around in fossil fuel powered jets to supportHamas andHezbollaterrorists. These people are absolutely batpoopinsane.

[@jcgoogle1808]

@@prolific1518 Please tell us how he's "ignorant",..Greta.

[@prolific1518]

@@jcgoogle1808 ask Florida residents about climate change. It's going to be extra special with a harsher than normal hurricane season and those geniuses are deciding not to buy home insurance. It's going to be beautiful

[@hobarttobor686]

When England started listening to professional Economists, they went straight down hill.

[@abrahamnorthhampton3327]

The staggering conventionality of this thinking explains a lot about how the British economy (and British society in general) ended up where it is today.

[@PFlow007]

So ridiculous to say he thinks the fed is doing a good job... It's amazing that create a problem and then we give them credit for solving the problem they created

[@jackinsonpablanes760]

of course 😂 he's a banker what did you expect, he'll support his fellow partner

[@vincentmurphy9252]

Banker you mean license to cheat and steal

[@kevinconroy6606]

They are doing a good job, what you’re not understanding is the direction they’ve been given and the goals by which their performance is judged. None of which is based on your ideals or input.

[@bpb5541]

I am not a fan of the FED. Since they have been instituted in 1913 the US dollar has lost 94% of its purchasing power. Just know that FED Powell is trying to do his best to bring down infaltion but Congress and Yellen have been doing stealth QE the whole time. Congress is the real problem. The last 6 Presidents don't get a pass either. All of them have a hand in this mess. Powell is swimming upstream. He is going to lose and that means we are going to get either hyperlfation or worse what Ithink stagflation. Should be wonderful.

[@artemishumaan6984]

The Fed can never do a good job because it is run by compromised humans that have yet to learn how to control their greed for money and addiction to the power it gives them over other people. These 2 primitive instincts are the root cause of ALL our problems. We have not learned how to control this for a millennia and are not better than the tyrants of Rome like Nero and Caligula.

[@ErikWalle]

So good to hear from this man! Thanks David!

[@ErikWalle]

Mr. Goodhart is so conservative and retiring in his council, makes a change from young upstarts with their bold assertions.

[@kimpinkham5804]

Not Russia,s war its Joey's war

[@bpb5541]

That comment is a little narrow. I would say it is caused by the rich folks that own our politicians. Specifically for what you are talking about... the folks that have finaical interest in the American War Machine... War is good money. Out industrial defense complex is owned by those rich people the politicians do what they are told. It's not just Joey... it would be anyone who is in there. Our President is a puppet. To think any president really has control over anything proves folks don't really understand how all this works. Rich people have all the power. The rest just get in line. Whatever line it is they want us to get into.

[@user-im6fy4qp6m]

the best thing we can do is boycott taxes

[@bpb5541]

Listen that sounds great and all but then we have no social systems. No police, no firefighters, no military, none of that. What we really need to do is balance the checkbook and stop spending more money than we make. Is that going to happen? Of course not... not without us going into a depression... which is exactly what I think happens next.... within the next 1 to 3 years.

[@vel95918]

No more FOMO; I'm fully committed to Revux!

[@AKATenn]

I would be happy to get paid less if everything was more affordable. The problem isn't how much I get paid, it's how much I can buy for the pay... if i can buy more with less, getting paid less is fine. Inflation/deflation is irrelevant, it's all about how much things cost compared to how much people get paid.

[@FeelingPeculiar]

Deflation is horrific. You're not factoring in most people won't have a job in a deflationary cycle (recession/depression). Everything will be on sale but nobody but the ultra rich will be buying. They need to cut rates ASAP and go back to the hyperinflationary environment.

[@AKATenn]

@@FeelingPeculiar they need to raise rates, let people lose their jobs so they get fed up enough to do something to stop the rich from taking everything. they have two choices 1. kick the can down the road by lowering rates, and the problem will just get worse, and eventually the system collapses anyway, just it will be way worse. 2. raise the rates, let the system collapse, and force change.

[@prolific1518]

​@@FeelingPeculiar stop commenting spreading your ignorance please.

[@martinb4093]

Is this the man who sold UKs gold?

[@graemejones9707]

No, that was Gordon Brown the Labour Chancellor at the time. His genius was to announce that he was selling half the nation's gold reserves in an auction, which pre-crashed the gold market for him to dump into it. It's known as the "Brown bottom" owing to the bottom in gold price that he caused and sold into.

[@maddawg4866]

It's possible,, he's,,,,..

[@Myndir]

@@graemejones9707 Politicians: "Sell low and buy high is a good investment strategy, isn't it?"

[@SuperPowderpig]

Volatility says that there is low confidence in the current markets ability to avoid a major correction.

[@baffinsansterre]

VIX is 12.42.

[@prolific1518]

​@@baffinsansterre vix means nothing noob

[@shawnmullen7602]

So, only criminals want privacy? Sounds quite dumb

[@Sola_Scriptura_1.618]

Not if you belong to the WEF and elliet.😅😅😅

[@dtb7872]

yeah this guy thinks Bitcoin is anonymous too lol..

[@erbterb]

Hence government secrecy. Cannot show the plebs your crimes and corruption. It takes one to know one, you now know, though somehau. It went so well and ended so badly.

[@charlosrossi]

Best finance channel. Love David brings on the old guys who FUD Bitcoin. It’s actually very informative to hear opposing views.

[@JacklynHerrera-wj7zm]

It's undeniable that this year is shaping up to be more challenging. Reflecting on the past year, my investment choices proved to be costly, driven by my excessive worry about my portfolio. I struggled to weigh the decision between investing further or pursuing homeownership. Ultimately, I opted to sell my investments, only to find that the house I purchased required more renovations than expected. It's becoming increasingly uncertain how much longer I can navigate these circumstances

[@Jason-sf8vx]

I still can't understand/believe why inflation @ 2% is considered ideal for healthy economy. But for debt to be inflated away in value will help government to keep on borrowing but the equlibrium point of 2% interest rate is not feasible when debt is rising exponentialy .

[@EikTuKaTu]

There is no reason, you can find interviews with JP where he admits its just a made up number, just like 6 feet apart and reasons for lockdowns. Most of the "science" is BS these days. Stable prices would be 0% inflation, not constantly inflating asset prices.

[@dotsthots]

Their ridiculous rationale is that without rising prices people wouldn't buy anything!! The fact that people are willing to borrow at 20% on credit cards to consume now shows just how stupid that is. The truth is, they have to inflate to reduce the real value of the debt they have issued that transfers wealth from the productive to the parasitic so they have to come up with technical reasons to support the theft.

[@thailandsnippets901]

A healthy economy would be zero % inflation. But the politicians love the 2% inflation BS because it is a hidden tax which they take for themselves with many people not realising what they are doing.

[@geraldthomas9281]

He said something that I can relate to .as a retired person. I can say that private pension and taking the tax relief , the government, and pension funds is a rip-off. If you invest in the right company, you don't pay tax on your investments. And you are not limited to how much you can take in a lump sum. An expert may be able to correct me.

[@alunevans2377]

The only monetary theorist that has been on the MPC

[@smoothjazz704]

Heard about the Goodhart's law a few years ago. Surprisingly few companies are aware of this. Finally get to hear the man himself. How in the world did you get so many of these great speakers to appear on your show, David?

[@defunctuserchannel]

With all due respect, this guy lives in the clueless bubble of the Collective West

[@antpoo]

Stop saying Collective. west. Such a stupid expression

[@-33312]

@@antpoo why do you say that?

[@antpoo]

@@-33312 because it’s silly vacuous expression that means nothing. It’s a buzzword you tubers use to make their audience think it actually means something ‘geopolitically’. Ie, makes them think they are smart. All the dare I say it ‘Putin Apologists’ (another stupid buzz expression, use the term ‘collective West’. Arghh. It’s cringe.

[@thegodofwar3744]

​@@antpoo the collective West is an accurate term describing the take over of governments in the West and their policy makers by corporations and their technocrats. A marriage of governments and corporate oligarchs as they use their military financial complex to control a fledgling collapse of the old system. Wall Street, Washington, city of London and the Vatican are real seats of power. You are in denial, a bubble of cognitive dissonance, but then again, you believe Putin is the boogie man. Good luck with that.

[@RWROW]

An eminently commonsensical guest, who speaks in clear English. Thanks.

[@srikardusa4953]

Each new partnership announcement amplifies excitement for Revux!

[@whdndrn]

David you should be asking how the fed can avoid stagflation avoId bank collapse avoid depression avoid hyper inflation even if debt continues to increase and congress continues to be disfunctional.

[@HH-kc1ym]

yeah, that is what I thought this video would discuss.

[@tswierczek]

Thanks David for the diverse and rational thinkers you've had on. It seems many of your listeners want the old days of the Lynette Zang and Robert Kiyosaki's of the world. I appreciate the game in front of me and that game isn't one of apocalypse right now.

[@georgeholloway3981]

I really liked the way he pushed back on David's imperfect hypothetical example of Goodhart's law.

[@stevenmix3723]

On his statement that inflation is hard to measure and undesirable for labor at zero % instead of 2%, what a load of nonsense. Before 1971, there was no noticeable inflation, because there was no systemic currency devaluation. After 1971, currency devaluation has expanded prices ten-fold. This is just self-evident, if you look at any wage or price pattern over decades before and after. And it has nothing to do with improved products by technology. We used to not have electricity, or television, for examples, but inflation was not much relevant before or after those technologies. Because money was consistently gold and silver both before and after those technologies. The difference between then and now, after 1964 and 1971, is simply that what passes for money today is becoming increasingly noticeable as not money at all. The more people notice that fact, the more people value their goods and services more highly than that non-money which still fraudulently poses as the dollar.

[@bpb5541]

Yes. The real question is what caused the devaluation of the US Dollar? That is easy... the FED instituted in 1913, going off the gold reserve, and the printing of money. It is a problem that started many many years ago and has just gained stream with more and more bad decisions. Americans are so stupid they just blame it on the current administration. Which of course is nonsense, and proves exactly why America is doomed.

[@thailandsnippets901]

When I was young we lived a good life with just 1 member of the household working. Now you need both parents working to live the same life, if you are very lucky. This has been due to the devaluation of currencies by the Central Banks. This was a deliberate policy by the Bankers to make the rich richer and the poor more poor.

[@mc-kz8zn]

Why do we need inflation at all? The is the question that is never answered by MMT-leaning economists. Answer: they don't want to admit that a money based on debt and credit ultimately fails. Appreciate Charles' discussion here, and based upon his statements, he offers zero solutions because he just wants to continue the status-quo, which will come at unthinkable negative long term costs to humanity.

[@mood_off.555]

Presales for the biggest returns are my preference. That's why Revux is my love. Early entry is the key.

[@jeffsurfanderson]

The wages wouldn't have to go down if the company produced more Goods. If the units sold goes up the companies making a profit therefore employees can keep their wages this is how a free market system works and when competition comes in and then the prices would have to lower but then you can always make a better product and again mass-produce

[@jtrealfunny]

30:50 Love this guest: dry. He's evaluation of the fed is excellent: they've been surprised by interest rates not affecting the labor market and this in the face of much higher immigration...I would like them to have been more concerned about supply considerations but the world is always changing... 32:50 we come to the hot topic of the all critical base rate for inflation: guest plays it cool...you need to make the central banks accountable and if they are to be accountable you have have a measurement...

[@danw6380]

Taxation is going to have to increase. Very smart person....

[@Sola_Scriptura_1.618]

The rate of taxation has to increase because the government needs to make up for the drop in revenue as the economy shrinks. Imagine going to your employer and demanding higher wages for the same productivity. Guess what? You will have less work, make less money, and need another job. Gold is not an investment, it is wealth; everything else is Fugazzi!

[@Sola_Scriptura_1.618]

This guy is a clown 20:30. I am no criminal, I am no hodler, but I want anonymity. This guy believes you are guilty till proven innocent. This guy is a WEF elitists!

[@jcgoogle1808]

No,... government spending needs to decrease. Regardless of anything else he says that might make sense,... Anybody,... especially an economist,.. who thinks governments who spend trillions on "climate change" is a worthy endeavor have no credibility. 1. They have no science background to know how it works,.. ignoring the facts that a. the climate has been changing for 4 billion years b. man evolved as a result of climate change in eastern Africa, c. CO2, which is supposed to warm,.. NOT "change",.. is no more the sole control of the "climate" than the number of cows is, d. the climate sensitivity,.. that is the change in temps as a function of a doubling of CO2 concentration,.. credible climate scientist say is 1 to 2 deg on a doubling from 300 ppm to 600 ppm,... which would take 100's of years to achieve,.. I mean after 100 years CO2 concentration has only increased 0.01%. Let's forget, water vapor is the most abundant and powerful green house gas in the atmosphere,.... Temps vary 30 deg F or 15 deg C every day 265 days per year.. Do we call that "climate change". there is nothing a 0.01% change in CO2 could do that the 5% to 100% water vapor in the atmosphere wouldn't have already done. If it takes another 100's for the next degree as a result of CO2,.. we can adapt as did the apes who evolved into humans as a result of slightly warmer temps. We have adapted. Most of the population lived in northern climates before the invention of air conditioning. The world would much rather have warmer temps than a snowball where everyonedies of starvation. And that was the goal of Svante Arrhenius when he studied and developed a relationship between CO2 concentration and temperature changes which is basically delta T is proportional to alpha x ln (C/C0), he wanted to encourage the world to emit more CO2 to try to warm the planet. e. that whatever the government would theoretically be spending on would net any real change in temps,.. rather than what they're really spending on,.. which is far left ideology,... things like "social injustice" and allowing men to go into little girl's bathrooms,.. ,.. and demcorat vote buying. The is nothing the government can spend money on to stop the periodic El Nino or La Nuna that results in periodic dry and wet springs. 2. There is no economic or sovereign or humanitarian justification for it. Just see Germany and Europe, who dove head first into the deep end of the "climate change" pool only to relinquish their national security to countries like russia, china and India,.... who couldn't care less about their CO2 emissions,.. in particular reducing them,.... they build the equivalent of several coal fired power generating plants per week,..... while the rest of the world ignorantly All in spite of John Kerryflying around all over the world in his private CO2spewing jet asking russia as they're committing all kinds of human atrocities andwarcrime in Ukraine,.. to please do so with an appropriate regard for "climate change". HUH??????????????? So spare me the insane uneducated regurgitations of the clueless "climate change" alarmistcult,.. lead by people like Kerry and uneducated childbrat Greta Thornintheass,.. who now has wandered of the plantation and now flies around in fossil fuel powered jets to supportHamas andHezbollaterrorists. These people are absolutely batpoopinsane.

[@alextube2551]

Yes lots of unfortunate steps taken by the west

[@pete7674]

Very concerning. Reality is sobering.

[@camronrubin8599]

This next decade might be slow. Go look at an AI robot in a factory like Stretch from boston dynamics and tell me productivity won't speed up. Hyperabudance could easily be 10-20 years away. Y'all ain't ready

[@martintheguitarist]

How can he say he doesn't know whether inflation or deflation is more likely? Nothing is certain but given the choice between the two there is a 99% probability governments and central banks will choose inflation. You don't need a phd to figure this out. The only deflation was 1929 and even that was because of the gold standard and not because politicians had a choice.

[@MetaPhysStore0770]

You have great guests, bravo!!!

[@CliftonHicksbanjo]

You lost me at "former BoE economist." 😆

[@ShantaramBhil-o6l]

Anticipating Revux disruption in the loyalty program industry during its presale phase!

[@MacroAnarchy]

I find it strange he says no one can predict the effect of AI, it’s pretty clear to see that it will have a massive impact on productivity. It’s debatable in detail but pretty obvious over all isn’t it?

[@raymond_luxury_yacht]

Yeah it's weird. People obtalk to about it are burying their heads I the sand and scared of it. I see this as new www type of change. I got a little bit of action then but largely missed out. Not making the same mistake again. Go all in now.

[@jksmithiii]

Hell yes David keep probing BTC with the older folks! Reveals an interesting dichotomy. If you see value in BTC, then the legacy system is broken. If you don't see value in BTC, then the legacy system is the only way. And then there's those crazy gold bugs :)

[@raymond_sycamore]

this guy is EVIL

[@ncprealty3844]

Woke elitist. I feel sorry for Europe, this is what is guiding the youth.

[@Gadfly2025]

What Bolker did mould never work today in our international economy

[@mickygarcia4251]

Increasing your productivity simply means that you're giving more of your work product to your employer.

[@PhantomO01]

No Offense, I really meant that but I’m noticing a trend. Whenever the financial pundit is over 60 yrs old; they are incredibly bearish. It’s always doom and gloom in their POV. Life goes on; markets go on. They go up, they go down. On rare occasions they stay down for a protracted period and in others they rocket 🚀 up. But most the time; they go up. 😊

[@dailydoseofnews4828]

Great stuff

[@antpoo]

And yet the market keeps rising.

[@bpb5541]

The market is not the economy... but eventually Macro will win. The reason the market is still goin up is assets go up in an inflationary event. This is good if you are rich and own assets like stocks, real estate, gold, BTC etc. If you don't you get left behind. You know there is still way too much money in the system when we get a bad PPI and a better but not great CPI number and the market rips higher on both, when they should have gone down. This is too much money, chasing too few goods. Ie.inflation.

[@antpoo]

@@bpb5541 So some will get left behind, The govt will throw them a small bone to keep them from falling through the cracks, and the monetary base will keep rising, lifting all boats and making that debt easier to repay. Rampant immigration will soak up the excess currency units and the only cost to all of this will be a lower standard of living due to higher population and its resultant effects on communities

[@KHAN_EDITING_1]

Feeling the real FOMO with Revux - join before the takeoff!

[@jameskelly9243]

What rock did you find him under

[@BapiGhosh-ql2yw]

Shifting all my Alts to BTC and Revux, maybe a bit of BNB and SOL.

[@thomasjones2067]

Started losing credibility at inflation. Completely lost all credibility with climate change. It was changing in every century for the last 5,000 years. So, if it stopped changing that would be significant. Weather is not static.

[@rajeshrevulagadda9400]

Bullish as Revux partners with more merchants, alleviating FOMO.

[@BootsieTheGreek]

Doesn’t AI completely change everything he said about production. Not to mention he is English man he lives in a bubble

[@sarvaiya_sharad]

Bullish on Revux - success ingredients are all there!

[@tenplus1025]

“Avoid World War and deal with climate change.” 😂 he forgot we are human and global warming is an elite scam…not to be dealt with.

[@bennygutierrez6184]

Don’t blame it on Putin, old guy.

[@Ghost_Madara246]

Potential moonshot: Forget the rest; focus on Revux!

[@luke-mc9dt]

No sign of productivity, Robotics Biotechnology Nanotechnology Ai

[@ng67432]

Where did he find that fossil who calls himself an "economist"?

[@georgeholloway3981]

This was very thought-provoking. Have him on more often!

[@georgeholloway3981]

He is utterly wrong about Bitcoin being anonymous, however. I find it odd when people make that claim.

[@ronfesta771]

Me thinketh it's always., overcast in........Jolly 'ol!@?😉🤪

[@DogWater2011]

1st

[@thailandsnippets901]

Sorry David but this guy is the typical banker. Gold has no return he says (just about 15% return ) this year so far, Central Banks have done a good job ( they said inflation was transitory...remember) etc etc. You would be better to get a more believable person on as people are not so gullible these days!!

[@omgyeaXD]

Guy doesn't know how bitcoin works.

[@irishjoecrypto8961]

You lost me when he said he avoids BTC. Old money doesn't want to share the wealth. People are tired of paying for banks gambling debts.

[@defunctuserchannel]

This guy needs to be put out to pasture.

[@JoeButtcrack]

Typical keynsian. He probably writes for the ft

[@davebrewer7170]

Total waste of air time. I stopped listening. This goofball assumes climate change is an issue that must be addressed by spending money. The better option is more education and less pandering to the uneducated

[@Kaaawasurfboards]

😂 pass on that question... Why are all politicians acting like entitled 2-year-olds all at once .. seems rather coordinated

[@brynduffy]

For the very first time ever I'm giving this a thumbs down because this guy opened up his interview with a lie.

[@nlbooks6614]

Hi David. i have a real life example you can use instead of your Ferrari example. if a youtube podcaster chose to concentrate on revenues from adds entirely might they piss off the listeners so much that his overall revenue goes down due to loss of listeners

[@ncartmel7948]

Woke=clueless

[@droneblake8968]

As soon as you tell me my taxes have to go up to support your nonsense, I’m out lol. Just another criminal banker

[@gianfrancobergagna4024]

😂😂😂😂😂😂😂 fa solo ridere questo poveretto!

[@patted44]

Sorry, but after his intro and bio, not at all interested in this guy.

[@flodog2187]

Third as I count!

[@danw6380]

Gotta have that oil. The root of most evil.

[@CliftonHicksbanjo]

You mean the root of most everything.

[@bpb5541]

Almost... energy is everything. Everything is tied to it. Think about it. Even food is tied to energy. It is used to farm, transport etc. The problem is we let the very rich folks give money to politiicans for office. Which means they own them. Which means the laws are written for the rich. Greed by our politicians are what caused the issues we are seeing. The rich just took advantage of them at everyone else's expense. Energy in itself is not evil. WE need it... more the better... the cheaper the better... the more green the better.... what we need less of is greedy people that don't care if they take advantage of others.

[@LazyWay-m1w]

1st

[@orirosengarten2572]

Gareth Soloway

[@LeeJF1]

"Bitcoin's far too volatile" 🤡 yeah bro, the huge gains are a bit scary 😂

[@bpb5541]

BTC is going to go to over a million a coin but it goes to 10k first. When it gets to 10k. I am going to back the truck up ... 4 of those coins will go to my kids in a trust that will not let them touch it for at least 15 years. ... maybe 20. I haven't decided yet.

[@JessNewms]

Stop asking elderly people about technology like Bitcoin. They aren't knowledgeable enough about new innovation to speak intelligently on it. What he said about Bitcoin is so incorrect its painful to listen to.