YT YouTube2Text

YouTube2Text → Transcripts → The Bond Market “Crash” Is a Trap — AI Agents Are About to Ignite Crypto

The Bond Market “Crash” Is a Trap — AI Agents Are About to Ignite Crypto — Transcript

by Jordi Visser · 8,865 words · 1,253 segments · language en · Watch on YouTube

Open in transcriber Summarize with AI Download SRT/VTT

Full transcript

0:00three-day weekend. Uh the final, I would
0:03say, uh true day of summertime before we
0:06have to get going on things. Uh
0:10going to try to get through this one
0:11relatively quickly. So
0:14the empowerment through AI side, I I I
0:17do want to make sure you guys realize as
0:18we go into the final four months of the
0:20year, we've hit the most important point
0:22in AI where the AI agents are growing
0:24rapidly. Um, this is really as much for
0:28anyone who's working at a job that
0:30doesn't know how to use AI from a
0:32workflow perspective yet. Uh, the time
0:35is gone. So, I do these videos and I go
0:38through this really to help people to
0:40educate them and to help them through
0:42the empowerment of making money. But if
0:46you understand how to use AI from an
0:47agentic perspective and you understand
0:50crypto, which is what the focus is, you
0:52are at the most important part of the
0:54disruption. And if not you, at least
0:57your your kids. I have great
1:00relationships and I've built them in
1:02terms of people that have had their kids
1:03call out. I can't take all the calls of
1:06everyone who reaches out saying, "Will
1:08you speak to my my son, my daughter for
1:11uh 30 minutes? I don't have the time,
1:13guys. It's a oneman show. I'm busy. I
1:15know a lot of you are reaching out more
1:16and more more if I don't respond to your
1:18emails or I don't get to things. You
1:19have to understand I get so many. So,
1:22I'm going to go through this video, but
1:23I want to make sure that you guys
1:24realize as you look at the first chart,
1:27well, not the first one. Remember, I
1:29can't guarantee that I'll make you
1:31money. This is not advice. This is a
1:33educational show. The disclosures are
1:36there. This is what I want you guys to
1:38understand. Um,
1:41you believe many of you in your head
1:43that your kid goes to a good school,
1:45they work really hard, they end up
1:46getting a a job, they get a raise every
1:49year, they save, and they retire. That
1:51is not the way the world works anymore
1:53for the majority of people. And I don't
1:55think it'll be the way that it works for
1:57anyone. The new world, and I've talked
2:00to you about my son and what's going on,
2:02is this. It is the ability of learning
2:06anywhere at any time. I have this
2:08conversation with so many adults. I have
2:11been given such a gift. I love learning.
2:14I love being creative. I love being a
2:16critical thinker. My brain has never
2:18felt more powerful than today because
2:20whenever I want to learn something or
2:22build on something, I'm working with AI,
2:26but now with agents. So, first it was
2:28typing things. Then it was chatting and
2:30having conversations and collaborating
2:32together. But now it's sending them off
2:34to build things, to come back, have a
2:36staff meeting, all of that stuff. Maybe
2:38it's because I manage people for a long
2:40time. But every young person should be
2:43able to do this. And that's the way
2:45they're going to have empowerment. If
2:47they learn how to use AI and they learn
2:49how to use agents, they can build their
2:50own business. If they build their own
2:52business, they can build five
2:53businesses. If they build five
2:55businesses, the question is how do they
2:56invest? By understanding crypto,
2:58tokenization, tokenized products. Trust
3:00me, their ability to invest and make 20%
3:03a year will blow you away. Not through
3:05speculating, not through betting on
3:07football, but actually through having
3:09agents build a tokenized portfolio of
3:12things that are diversified where you
3:13can get a good sharp ratio. I'll go
3:15through that. Pay attention to that.
3:18This week's major theme, stop with the
3:21bond fears. Everyone in X, everyone in
3:25there, the same people who were saying
3:28AI is a bubble are telling you that the
3:30bond market is going to explode higher
3:33and it's going to create problems. Is
3:35there a chance that yields will go up?
3:37Yes. Do I think they could go to five
3:39and a half, 10 year yields? Sure. Do I
3:42think Scott Besson is going to fight it?
3:43Absolutely, he's going to fight it. He's
3:45already shown that. Why do I want to be
3:47involved in something that can go from
3:49here to here when it just went from here
3:50to here and it's been in a range that's
3:52been nothing? This is all throughout X
3:54and every technician and everyone who's
3:57bearish just keeps rolling out these
3:59bond fears. 30-year yields are going to
4:01make the highest level. We're at 523. We
4:03could make the highest level since 2004
4:05very soon. Guys, don't believe the hype.
4:08I'll tell you why. Here's what Bonval is
4:11doing. If this was really a crisis,
4:13trust me, bonvs would be up here. They
4:16wouldn't be sitting down here. For
4:18anyone who wants to tell you, whoa, they
4:21wouldn't be there. And if it wasn't
4:23Bonval, then okay, how about this? How
4:26about junk spreads wouldn't be sitting
4:28at the tightest level ever. Junk
4:29spreads. Now, triple C's are widening
4:31out, which again, as I've said, I think
4:33you're going to see spreads kind of
4:35widen out because I think you're going
4:36to see a lot of places go out of
4:38business because of AI. Here are
4:41inflation swaps. two or one year, two
4:44year, 5year, 10 year. Here are the
4:47numbers from 249 or 248 to 252.
4:51They're not only at 2 and a half where
4:54they've been since 2022.
4:57They're all at the exact same level,
4:59which happens to be where core CPI is as
5:02well. There's core CPI 248. By the way,
5:05here's the daily trueflation number. I
5:09don't care what you believe in true
5:11inflation. Do not listen to anyone that
5:13says this has no value. That is not
5:16true. It absolutely has value. The fact
5:18that it is deviating in falling this
5:20fast to me, I I I'm curious as to what's
5:24going on inside their prices because
5:25they are calculated on real prices. The
5:28scary bond chart. Here's the reality.
5:30This is the fact that chart with yields
5:32going higher. Here's the total return if
5:34you invested in 20 plus years. So not
5:38even 10 year. This is the worst one. 20
5:40years and above, your return this year
5:43minus 3%. Here's what it was in 2022
5:46when it actually mattered, down 32%.
5:50JGB 30-year yields. May of last year, we
5:54broke out to all-time highs. You want to
5:57see the damage that's been done since
5:59then as 117 basis points. May 20th, Zero
6:03Hedge doing one of their let me scare
6:05you things. The biggest bond market is
6:07imploding. Here's where the Nikai was
6:10that day. Here's where it's gone.
6:15Here's where the Nikkei is
6:16year-over-year, up 52%. So, if you
6:19listen to this garbage, you cost
6:21yourself a 70% rally in that time
6:25period.
6:26Here's what Robin Brooks wrote this
6:28week. This is a rational person. This
6:30selloff is ongoing since 2022. So, this
6:33is not something new. As he says, we've
6:35been going higher.
6:37It won't spin out of control into a
6:39crisis because governments won't let it.
6:42You do you believe that? Of course you
6:44do. You have to. We're seeing signs of
6:46it at this point. They don't want it to
6:47go higher. They will try to find ways to
6:50keep it in check. Now, this has got
6:51Japan. This has got Germany. This has
6:53got the US. This has got the UK. It's
6:54got all of these stock markets are still
6:57going higher, but they're all there.
6:58This is Switzerland. So, he highlights
7:01this is all about the level of debt.
7:03It's not a crisis. It's about the fact
7:05there's a lot of debt and growth is
7:06good. This selloff is completely global.
7:08Governments everywhere are fighting
7:10this. Inflation break evens are fast
7:12asleep everywhere. Like I said, those
7:14are the facts. Here's another fact.
7:17Besson expects Japan to act to boost
7:19yen. We saw the yen again this week.
7:23Strengthen.
7:27I know what the Japanese are planning to
7:29do, says Bessant. We're in coordination.
7:33It's not just one country. They're all
7:35involved in this, or at least Japan and
7:37the US are. Here's the PEG ratio, the
7:39S&P. So, now let's get to the facts. Do
7:41you really want to focus on the bond
7:43thing with what I just showed you? We've
7:44been going higher. None of the other
7:46places, the bond VA, any of that stuff
7:48is showing any risk. Okay, here's the
7:51S&P PEG ratio. And again, the PEG ratio
7:54means what's the forward PE? Let's
7:56assume it's 20 right now. The what's the
7:59earnings growth rate? Let's assume it's
8:0125 right now.
8:03Okay, so the earnings growth rate right
8:06here is higher than the PE. So you have
8:08a PEG ratio down here. This is at the
8:10lowest level since 198. You cannot say
8:14that the market is expensive and it's a
8:16bubble unless you're saying this is a
8:19bubble and is going to collapse. You
8:21want to say that, that's great. You're
8:23just going against charts that are
8:25incredibly powerful. And here are the
8:28revisions. We just came out of an
8:29earnings period. the weekly revisions
8:31through the roof. And as I've said
8:33before, the time to be short stocks is
8:37when the red stuff, 2022, when rates
8:39were going higher.
8:41This is when you wanted to be bearish on
8:44stocks. When the Fed chair is saying,
8:47"Don't own stocks. We don't care." Now
8:50you have the president saying, "I don't
8:51want rates higher." You have Besson
8:52saying, "I don't want rates higher. We
8:54want to run it hot. We want stocks
8:57higher." Here are the revisions.
8:58companies are still earning. Here it is
9:02with GDP, meaning forward GDP as PMIs
9:05PMIs continue to sit. And again, they're
9:07not at 60. We got the PMI out to
9:10manufacturing. It's at 55 revisions.
9:12This is the 20week average of revisions.
9:16Now, let's go through the facts on the
9:17stocks. Leading indicator, when you want
9:19to be bearish, like you were in '08, we
9:21get a recession signal here. We get a
9:23recession signal here. We're up 18%
9:25year-over-year in the S&P. The NASDAQ
9:27were up 24% year-over-year. The Russell
9:29were up 23% year-over-year. SMH
9:32Semiconductors where a lot of
9:34bubbleistas are. They still believe this
9:36is coming all the way to zero. I see the
9:38technicians. I see what they're talking
9:40about. Ignore them. 88%.
9:45Here are global revisions. If you think
9:46this is a US problem in terms of being
9:48strong, no. Globe. Good.
9:52This is coming out of recession periods
9:54or coming out of the crash in 16 with
9:56oil where we got things higher. Again,
9:58the globe is good. MCI World up 16%
10:02year-over-year.
10:04MSCI Emerging Markets up 30%
10:07year-over-year.
10:09MSCI World Bank Index, if there was a
10:11problem in bonds and there was a problem
10:13in credit, banks would not be doing
10:15well. Banks led the S&P down in ' 07.
10:18Banks end up being horrible during
10:20periods in Europe during the Europe. We
10:23got no problems right now. Banks are up
10:2529% year-over-year.
10:28Let's go look at revenues per share in
10:30the Aqu going through the roof.
10:36Revisions going through the roof.
10:39Earnings and valuation with inside the
10:41bands at below 20. And it's because
10:45earnings are going higher.
10:47There's the earnings per share. Again, I
10:49got to take this down because we're
10:51going off the chart. All right, let's
10:53keep my head there for a little bit.
10:54There's profit margins. I mean, do you
10:57really want to focus on the bond market
10:59when you have profit margins around the
11:01globe going up this much? Shouldn't long
11:02equities be a better thing? Looks Look
11:04what happens before a recession, guys.
11:07Look, you at least get a flattening out
11:10a year, two years before.
11:13You don't get this.
11:17Here's the scary oil chart. Another
11:19scary chart. A lot of people talked
11:21about oil this week because we went
11:22through on this is December contract.
11:23Well, the Fed's got to raise rates.
11:25Yeah, there they might raise 25 basis
11:27points. I'm really going to be scared of
11:28a 25 basis point rise. Um, if you want
11:31to avoid stocks because of a 25 basis
11:34point while earnings are growing, profit
11:36margins are growing. Okay, here's oil up
11:38at $86. And again, as I've shown before,
11:42the year-over-year oil price for the
11:44sixth contract forward is up 22%.
11:47It should always be up at least this
11:49much during times that the economy is
11:52good. Always
11:57spending still happening. So, if you're
11:58worried about the economy, the Johnson
12:00Redbook, the fiveweek year-over-year
12:01average is at 9.6. So, we had the World
12:05Cup, went up, then we came down. Here's
12:06what the last week was in August all the
12:09way back up to here. Here's what the
12:11overlay is with personal spending.
12:13Obviously, consumption is 67% of the US
12:16economy. All right, here we are. And
12:18here's the white line, Johnson Redbook.
12:21S&P, you really want to be bearish now
12:23when we finally had a correction for the
12:25first time this year since the Iran war
12:28where the S&P was up 20% over a rolling
12:31three-month basis because of the AI
12:33trade. The AI trade peaks. I send you
12:35guys the AI midcycle slowdown. The S&P
12:37goes down, go starts to go through it.
12:40Here we are in July around the point
12:42where Liupole blows up. The S&P hit the
12:45zero line, which means the threemonth
12:47rate of change got to zero and now we've
12:49bounced out. AI is bottoming as well in
12:53my opinion, which I'll show you. The
12:55advanced decline, another way to use it.
12:57I used the 9-day RSI in this. We hit the
12:5925 level. That's where we were at the
13:01lows in March. See what happens. Most
13:04importantly, the number one stock for
13:06the AI trade is Nvidia. Most important,
13:09every chip stock follows Nvidia because
13:12they're the one this the head of the
13:13circular finance. They are the ones
13:15paying everyone. They are the ones that
13:17need all of their stuff. So, if their
13:19stock is breaking out, do you really
13:21want to call semiconductors a bubble? Do
13:23you really want to fall for that, guys?
13:26Here's Nvidia approaching new all-time
13:28highs. And since Chat GBT came out in
13:312022, this is the overlay with the S&P.
13:34I don't think you want to be bearish
13:36stocks when Nvidia is about to make new
13:37all-time highs. Here's Nvidia overlaid
13:39with the socks again. Nvidia peaked
13:42here. Semis peaked here. I just think
13:47you're making a mistake right now. If
13:49you're sitting there listening to
13:50technicians and people scaring you with
13:52rate charts, ask yourself this. If a
13:55technician is bearish on semiconductors,
13:58go see if they're bullish on yields. If
14:00you're getting the same thing and
14:02they've written and called this a
14:03bubble. If they're also bearish on
14:05Bitcoin, there might be a thing here
14:08where they're developing an endgame bias
14:10like I talked about two weeks ago. I'm
14:12showing you guys the facts of the
14:14market. Is the SMH below the 50-day
14:17moving average and is it trending down?
14:19Yes. Nvidia is up here. So, I'm giving
14:22you a fact up here. Until this breaks
14:24here and actually breaks here, I think
14:26you can continue to say that we're
14:28there. As I'm going to show you and as I
14:29went through last week, I think this
14:31stuff is bottoming after this. This to
14:34me is a consolidation. People don't
14:36think moves like this consolidate. I
14:38believe they do.
14:41S&P
14:42here's where the chart finished the
14:44week. It's not bearish. And this is
14:45again, this is where we were in June.
14:47Here we are in September. Basically
14:48unchanged. Q's again, I don't see this
14:51as bearish. Russell, I don't see this as
14:54bearish. All of these are above the 200
14:55day moving average and significantly
14:57above. They needed to have some time to
14:59to let the 200 day come higher. I got a
15:01lot of things this week on tech
15:03momentum. Everyone's panicked because
15:04they made new lows in this. Here is the
15:06long side of momentum. This is not the
15:08same as what was going on here. Trust
15:09me, I will show you some stats on this.
15:12This is about the long side going up and
15:14deleveraging continue to happen. That is
15:17what caused this. The shorts going up
15:19caused this. This has nothing to do with
15:22reality. This has to do, this is not
15:24earnings. This is not anything. This
15:26continued to be deleveraging. And as I
15:28said here, we can't just go back to the
15:31highs. I believe this stuff is stuck in
15:33mud. Do I think we're going to get to
15:35the highs? Yes. Do I think it's going to
15:36take time? Yes. Here's my thematic
15:38portfolio. So again, when we break the
15:4150-day here, I still expect it to go to
15:43here and pause. And my guess is by the
15:46time we go higher, it's probably after
15:48the midterms. I don't think this is the
15:50place to be making lots of money. But
15:53this is the place where I did make buys
15:55in this period for Micron and stuff like
15:57that because
16:00I do believe that a year now we're going
16:02to be much higher. Most of my waitings
16:04are towards crypto and I continue to add
16:06to crypto. Here is the internals of my
16:09thematic portfolio. This stuff going
16:12forward I'm only going to show in the
16:14crypto portion. So I've decided what to
16:16do is this video will remain on YouTube.
16:19It's open to everyone but for people who
16:21want my thematic portfolio and the
16:23crypto side to understand this part
16:25along with the prompts and everything.
16:27The subscribers will have that and I
16:29will do more work on this and I will add
16:30the crypto side into it. This is the
16:33thing that I showed last week. So here
16:35in this week, the thing that stands out
16:37to me, we had two weeks in a row where
16:39the number of names with inside the 100
16:41uh portfolio didn't hold where we had
16:44this. We had two weeks of kind of blah.
16:47This was a bad week following this made
16:49sense. It was better last week. It was
16:50better again this week. This is the most
16:52important part. If you guys have not
16:54used ATR percent, the average true range
16:57of a 100 names, this is taking the
16:59average 14-day true range of each
17:02individual stock.
17:04This thing is going lower. This is a
17:06very positive sign because this means
17:08hedge funds are not getting stopped
17:10anymore. Retail is not involved anymore.
17:12This happens because of stops. This
17:15happens because the need to move things
17:17through force things whether it's margin
17:19or everything is expanding. This is why
17:21this is such an important signal and
17:23very few people use it. Here's the chart
17:25of it. It was going higher as the market
17:27was going higher. This was part of the
17:29reason that I was reducing things back
17:30in here is because V was going higher in
17:34these names which meant people were
17:36either speculating more, putting things
17:38on or getting stopped out and then it
17:40continued to move higher during the
17:41stopout period. Well, now it's going
17:43down every single week. This is the
17:45number weekly. Here's the overlay with
17:48the thematic portfolio. So, we went up,
17:51this thing was coming down. It continued
17:52to go down during this slide. Now, we're
17:55seeing this. I believe the bottom is in
17:57back here and I think the thematic AI
18:00portfolio the stuff that I go through is
18:02going to go higher. I will start doing
18:04some spotlight pieces again and I will
18:06start going through the names that I
18:07like. I've told you repeatedly since I
18:11don't know if it was in here whatever
18:12but in in this point but Nvidia is one
18:15of the names and now because of its
18:16recent move it's as big as Marll for me.
18:20I believe Nvidia is a good place to be
18:22while we're stuck in the mud. it made
18:24the low the same time it's up at
18:26all-time highs. So, this is a relative
18:28strength thing relative to my thematic
18:30portfolio. Part of the reason that I
18:32want you guys to understand that when
18:34people get worried about semiconductors
18:36in the AI trade because of rates,
18:38they're way off base. Interest rates are
18:40a rounding error on inference P&L. So,
18:43what three companies matter the most?
18:45The three companies that matter the most
18:47are Anthropic, OpenAI, and Nvidia.
18:50Those are the ones that matter the most.
18:52Nvidia is the one selling the
18:56semiconductors to the people that need
18:57to get their money from the compute
18:59demand which is being done mainly
19:00through anthropic and open AI which are
19:02dominating the models. The revenue per
19:05token this is it this whole thing is
19:09based on the interest rate impact. It
19:11actually goes through everything. So
19:13model price what's the most important
19:15part for open AAI and for anthropic you
19:18should know this rates are irrelevant.
19:21So a 10% model price decline is worth
19:24three percentage points of margin. 10%
19:27model price. So again, 26 down to 23.4.
19:31Great. Interest rates a 200 basis point
19:35rise. So in 10ear yields from 5 to 7,
19:38that's only one margin point. Here it is
19:42right here. So again for open AAI they
19:45can keep paying for this and that keeps
19:47the compute prices high which allows
19:49again Nvidia to continue to spend money
19:52and make money and that allows Dell and
19:56Marll and Micron and all these companies
20:00to still not have to worry about things
20:01that is the circular nature. So
20:03remember, if you have a concentrated
20:06economy, which we do, the three
20:08companies that matter are Anthropic,
20:10OpenAI, and Nvidia, is there a chance
20:13that something could go wrong? Yeah, the
20:15risks are model price compression.
20:17That's not happening yet. So again,
20:20until we get to that point, the hardware
20:22costs don't matter. the infant, none of
20:25this stuff is going to matter as much if
20:26the model price collapses, which again,
20:28it's not going to happen in my opinion
20:30anytime soon because they have the best
20:32models. And as I go through this, you'll
20:34see why that's important. Nvidia blows
20:36out the quarter, stock trades lower,
20:38goes right back up. Very positive sign.
20:41Dell surges 9% after good numbers. So,
20:44good numbers are being rewarded. The
20:45computer maker now sees AI server
20:47revenue tripling. Six months ago, it
20:50expected it only to double.
20:53Germany, this is not a US problem.
20:55You're starting to see other countries
20:56are running short of AI compute.
20:59Welcome to the AGI era. If you guys have
21:01not read the things about Astra, Astra
21:02[clears throat] is now officially the
21:04best model in the world on the
21:06benchmarks. The scary part is we are at
21:09the point and the reason this article is
21:11on AGI is because we've reached the
21:14point on there where it can basically do
21:17every knowledge worker job. That's how
21:19good it's gotten and that's where this
21:21is. About a year ago, I think we were
21:23around the 40% level. We're now at 100.
21:27We are at the agentic side and that's
21:28what AGI stands for is artificial
21:31general intelligence. Their definition
21:32is when is it smart enough to replace
21:35all jobs, do all jobs. It won't be
21:38rolled out that way. We're not going to
21:40see all these job losses, but we are at
21:41a different stage. The most important
21:44podcast for you guys to listen to, if
21:45you pick one for this week, absolutely
21:47listen to the artificial intelligence
21:49show, the one they did called Open Face,
21:52uh, Open AI Hugging Face. You need to
21:54understand what's going on. And this
21:55open AI hugging face thing, I had so
21:58many people reach out. I had very very
22:00uh well-known people reach out
22:02specifically on this and again my
22:06opinion on this is it's part hype and
22:08it's part reality of the agentic side.
22:11It's not a negative thing. There will be
22:13hackings. I say it every week on this
22:15show. There will be significant hackings
22:18in the traditional fiat world, not in
22:21crypto. Will there be hackings in apps
22:24in crypto? Of course. Will there be
22:27crypto or Bitcoin hacks? No, not not not
22:31till we get to quantum, but this was not
22:33just a hack story. This was about how
22:35agents are working, how smart they are,
22:37and where we are. And this was using
22:40supposedly Astra. So, you have to listen
22:43to what they describe. They read through
22:45some reports which came out and released
22:47over the week that got everyone excited
22:49and worried. Some agents actually
22:51sacrificed their own goals for the
22:53collective. I talked about this with
22:54Pomp today. This is amazing because I've
22:57managed hundreds of people. I I can't
23:00remember a time where someone's willing
23:02to sacrifice their job for the
23:05betterment of everyone else. They might
23:07sacrifice in terms of something. But the
23:09difference between AI agents and why
23:11this is so powerful is because they're
23:13working in teams of 1,200
23:16to accomplish a goal. That's where we
23:19are now with the swarm. You have to pay
23:21attention to this because this changes
23:24the mental model from AI assistant to AI
23:26organization. This is exactly the moment
23:29in time where crypto matters. Browser
23:32agents matter. Now, if you don't know
23:34how to go in, they tell you what you
23:36need to do in codeex. You have no time
23:39to wait anymore. As a worker, as an
23:41employee, as a college student, you have
23:43to be able to do this now. If you want
23:45to stay in the top 5%, don't try to get
23:48an A on every paper. try to know how to
23:52do this. My son has already proved in
23:54the success of his side and what he's
23:55been able to build. You can do this,
23:58especially as a 21-year-old to 22 year
24:01old, but even a 16-year-old. For all of
24:03you parents that reach out and want me
24:05to talk to your child, I would love to
24:07be able to do that. I don't have the
24:08time. I'm a one-man band, except for
24:11Mark Whailing that's helped me. It's me,
24:13guys. For business leader, it becomes
24:15the workflow design. So, if you're at a
24:17big company or an RAIA and you're
24:20telling me that you're using Anthropic,
24:22you're falling behind. That's what this
24:24says. If your major plan is to give
24:26everyone Anthropic, you are falling
24:28behind. That's not a joke. That is a
24:30reality. We are on AI agents now. We are
24:33past all of that stuff. So, if you're
24:35not focusing on how to have workflows
24:37redesigned and you're just giving people
24:39tools, your business is going to be
24:42slower than the AI native ones that are
24:45running with this. You can call me up
24:47but at a minimum you have to start
24:48subscribing to this. I will do a
24:50presentation for your FAS. People need
24:54to start using it and that is the reason
24:56for the prompts but this is the mindset
24:58you have to listen to this podcast to
25:00start for families for your educations
25:02for your careers. Like I said they go
25:04through Bill Gates he he published
25:07something where he shifted and again I
25:10hate perma anybody. I hate perma bulls.
25:12I hate perma bears. If you can't be
25:15serious and talk about both sides of the
25:17equation, what value do you bring? So, I
25:19just don't listen. The reason this is an
25:21important thing is from Bill Gates is
25:22because he shifted his view. He shifted
25:25his view because agents have now entered
25:28and he they are moving so fast that
25:30there is no way that we can keep people
25:32on the other side. People can't adopt it
25:35as fast as being replaced. This will
25:38become normal now. So, the only way to
25:41defend yourself is to learn how to use
25:43it while you're at the job and do it at
25:45home. There's ways to learn. The
25:47takeaway from all of this is not panic.
25:49It's time to prepare both for AI but
25:52also for crypto. That is what this is.
25:54This is the new world and the next three
25:56years are going to be insane. On this
25:58podcast, they talk about how OpenAI and
26:00Enthropic are telling you that the next
26:03year will be worth four years of AI
26:06progress. The last four years is the AI
26:09progress, guys. That's chat GPT to AI
26:12agents. It took a long time to get here.
26:15Now, it's accelerating at such a fast
26:17pace that a year from now, it will blow
26:20your mind. Three years from now with
26:21humanoids, it'll blow your mind. If
26:22you're doubting it, if you just go into
26:24action, you go, "Yeah, yeah, you're just
26:26talking about stuff that's never going
26:27to happen." That's not helping you and
26:29it's not helping your children. And I'm
26:30just telling you, as someone who got
26:32into finance as the son of a
26:33construction worker who didn't want to
26:35siphon gas with his mouth, who didn't
26:38want to get electrocuted, who didn't
26:40want to have no hearing, who didn't want
26:42to I was handed a book and it was the
26:44power of compounding. I'm going to tell
26:46you again and again, crypto plus
26:48tokenization will allow you to take the
26:50money that you're making and not save
26:52it, compound it. The days of saving your
26:55money and having your 401k go at 10% was
26:58about a world where you could start at
27:0020,000 and then you go to 50,000 and you
27:02go to 100 and your 401k would help you.
27:05Those were days in the 1980s, 1990s.
27:07We've been running into this problem
27:09which is why everyone is barely making
27:12money on they're not actually making and
27:14saving and having money work for them.
27:17Crypto and tokenization will allow you
27:19to do this. Gavin Baker podcast. Another
27:22one. I'm not going to give you
27:23everything on this, but I am going to
27:25say this part from 1715 to 2034.
27:28Grockbot style agents are described as a
27:30new consumption shock. That is the
27:32critical part right there. From chatbots
27:35to agents. Again, most of you are still
27:38stuck in this area. If you've actually
27:40started using Claude code and you've
27:41been doing coding assisting and you've
27:43been building some of the things that I
27:44put in there, for those of you who built
27:46the Jensen Yuang knowledge brain and I
27:48said if you build this, this will open a
27:51gateway. Many of you have reached out
27:52and talked about multiple brains you
27:54built, including mine
27:56that if you haven't done that yet, sign
27:59up. Go to the subscriber thing. And by
28:00the way, I'm not putting anything in
28:02this on this. Go to VisseryLabs.
28:05Visser-labs.com.
28:07You can get to the site, but I gave
28:09people in there a prompt for building a
28:12Jensen Senuang knowledge brain. Last
28:14week, I gave you a Grockpot prompt.
28:16These prompts once you start using them
28:18and you know how to do them, they lead
28:20to this one, which is the personal
28:21workflow agent to read, to summarize,
28:24compare, recommend, ask permission. This
28:26is where we are now. The compute needs
28:29on this massively more than what's over
28:31here.
28:33financial agents, you will be blown away
28:36by what's going to happen. And this is
28:37where the crypto side comes in. So this
28:39is the merging happening right here. We
28:42had to get the IQ up to get to this
28:44point. Then we went to the coding
28:46agents, but now we're in the personal
28:47and the workflow agents. That means we
28:49need financial agents and that's what's
28:51beginning to happen now. And that's
28:52where crypto fits in. And that's why
28:54crypto is rallying.
28:58X's AI tool, Grock, now allows users to
29:01buy or lend crypto with Moonay
29:02integration. So again, I'm highlighting
29:05the fact that every week there's a new
29:06thing with Grockbot being integrated.
29:09Grockbot, Stripe can now purchase
29:12anywhere with Link. If you haven't tried
29:14Grockbot, you should. It's very good. It
29:17can now buy things on the internet.
29:20Here's what I'm giving you this week. So
29:22the agentic or the yeah the agentic 100
29:26name thematic portfolio which I'm saying
29:28in my opinion is bottoming and starting
29:30to go higher again building a base. If I
29:34want to go look for names that are in
29:35there I wanted to create something in
29:37Grockbot. So I created more agents. So
29:39Jarvis, I sat down with Jarvis and I
29:41said I want to do something new and I
29:43want you to create the agents that go
29:44through. So it created new agents
29:46created pattern scout. created universe
29:48clerk
29:51and now we're uploading this. This is a
29:54daily postclo chart pattern screen of
29:56the AI macro nexus 100 in Grockpot. So
30:00this will use Yahoo Finance. It will go
30:02into Yahoo Finance and it will look for
30:04all 100 names in the IO macro nexus
30:07book, scan each chart for classical
30:08bullish and bearish patterns and then it
30:11will tell you what's changed today every
30:12day. That's what this will do. So this
30:14way you can go if you want to trade
30:16names and you want to find things that
30:18are positive and the ones you should go
30:19do your own technical work in. I'm not
30:21telling you to buy anything. I'm showing
30:23you how you can use this and then
30:24incorporate it in the way that you guys
30:26look at it. That's the way you can do
30:27it. April of last or April of this year,
30:30Mark Andre gave a podcast. I didn't show
30:32this. It's in uh latent space around
30:36April 4th. I I didn't show it back then,
30:38but I listened to it. Um I remember I
30:40was in LA or I just come back. The
30:42reason I didn't show it is because
30:44everything he talked about to me that
30:45was important was basically from the
30:4850inute mark to the 55. Agents were
30:51happening but it wasn't happening with
30:53payments yet. So it was a crypto thing
30:55for me. AI is the crypto killer app.
30:57Basically his point AI is the crypto
30:59killer app. It's the app that makes
31:03crypto start to blow up. It's gets it's
31:06the crypto side. Crypto is not made for
31:09human beings. The first phase of crypto
31:12was all about developing it to be
31:15something embraced by humans. But
31:17eventually AI agents needed the digital
31:19payments. They needed stable coins. They
31:22didn't need Bitcoin. They needed
31:24tokenization. They didn't need Bitcoin.
31:26Bitcoin is part of the ecosystem. Which
31:28is why I show you guys how Bitcoin
31:30equals the ecosystem. It always will.
31:32Just like the S&P 500 equals the EOS
31:34ecosystem of the US economy. The agent
31:38economy is Bitcoin. plain and simple for
31:40me. You guys don't have to agree, but
31:42that's just a reality for me. I've
31:43proved it to myself and I've gone
31:45through this. The early internet never
31:47solved native payments. Andre says
31:49payments will get solved now because
31:50crypto exists. He's saying if crypto
31:52wasn't before agents, we wouldn't be
31:54there. Crypto had to happen, which is
31:56why he wrote the paper or the op-ed in
31:592014 called Why Bitcoin Matters. It was
32:02all about these things. This is not
32:04something new for him. He was preparing
32:06for this day. This is the grand
32:08unification or the merge of AI and
32:10crypto. It's why I say Bitcoin is the
32:12purest AI hedge. It works because AI
32:15destroys all businesses. All businesses.
32:18You don't need human beings. So new
32:20businesses will have five people, 10
32:22people. They will be small. They will
32:23grow from nothing. Which is why you have
32:25to have an entrepreneurial mindset. And
32:27your kids have to learn how to do that.
32:29They have to be entrepreneurs. They have
32:31to fail and they have to get back up.
32:34You know what that's like? Trading.
32:36That's why I'm doing this stuff. They
32:38have to get involved with crypto, with
32:39tokenization, with understanding AI
32:42because it's about building something,
32:43it not working, getting another name,
32:45building it again. You have to come up
32:47with idea after idea after idea. And
32:50going into a classroom and listening to
32:51a boring professor who's telling you one
32:54person's opinion will not get you there.
32:56AI will allow you to talk with a hundred
32:59agents, whatever you want.
33:02The grand unification crypto's mass
33:04market use case may not start with
33:06humans wanting to use. It needs agents.
33:07Agents obviously need money. The future
33:10is already here. The joke hides in
33:12serious risk. Agents need financial
33:14guard rails. Mark Andre is the man for
33:16this. And this is the way to look at it.
33:18Not humans, but AI agents will be the
33:20biggest users of crypto. So think about
33:22that. If you believe that crypto volumes
33:24are going to explode, that everything is
33:26going to be tokenized and that AI agents
33:29will be the biggest users of crypto,
33:33that means we are about to see billions
33:36of consumers. So, what I want you to do
33:38is equate crypto
33:40to tokens. As token usage happen, what
33:43happened to the AI infrastructure?
33:45What's going to happen to the crypto
33:46infrastructure? Regardless of what
33:48happens with the Clarity Act, it doesn't
33:50matter. The only reason it matters is
33:53because if the US wants to remain the
33:55leader in something, they have to have
33:58the Clarity Act to get the capital from
34:00the pension funds and from the insurance
34:02companies.
34:03All Clarity does is give the regulation
34:05and basically the seal of approval for
34:08pension funds and for people to go,
34:09okay, crypto is now accepted on this
34:11form. They're still going to be involved
34:13in Bitcoin and things like that, but to
34:14involve themselves in the market, they
34:17can't worry that all of a sudden a new
34:19administration is going to take over and
34:21they're going to put crypto backwards by
34:23four years again. I don't think that's
34:25going to happen, but that's the risk.
34:26Crypto didn't lack a use case. It lacked
34:28a native user. AI creates it. So, here
34:30are the charts. Bitcoin
34:33up to the technical level I mentioned
34:36and showed. We're hanging in. We're
34:38consolidating. We're doing a great thing
34:40here. We have this big gigantic raise
34:43here. And then we have this sideways
34:45action, very bullish. And in dinners I
34:48went to this week and in talking to
34:49people, both who've been, I'd say, major
34:53winners in Bitcoin or in crypto. And
34:55then people that are active in it and
34:58regular people on the street that I run
35:00into,
35:02the ideologues don't believe in it
35:03nearly as much. So they've bailed out or
35:05they've reduced significantly. That's my
35:07silent IPO the thesis. The other side is
35:11most people did not catch this move
35:12because of the frustration that had gone
35:14on here and they didn't want to fall
35:15into it. The they were asking if it's
35:18going to fall back to the 60s. Most
35:20people believe this was going to bottom
35:21in October. It seems to be getting away.
35:23I don't think you're going to get the
35:24chance. That's just me. Here's Ethereum
35:27again. The 200 day turned up in Bitcoin.
35:29It also turned up here. I went through
35:31the numbers last week based on history.
35:33This is a great time to be involved in
35:35these chartwise. It's a great time.
35:36Here's Salana. These are the three
35:37horsemen that I'll be showing every week
35:39on the crypto side along with the crypto
35:42portfolio of 46, a combination of six
35:44stocks and 40 tokens. It might grow, it
35:47might change. I'm working on what it's
35:49going to go through, but that video will
35:50start at sometime this month. Um, so
35:53Salana, same thing. 200 day is now
35:55pointed upward and we're trading higher
35:57and we're consolidating at this level.
35:59If you want to know what quartertoate
36:01performance is, if you haven't been in
36:03crypto, and remember I told you I've
36:04been I had been started rotating in May
36:07into June, out of Micron, out of these
36:10things. My AI stuff is smaller than
36:12crypto by a good amount, especially when
36:14you beta adjust it. So, it's been a very
36:16good time for the Jordy portfolio since
36:18June. Most of it happening here. But
36:21here are the quarterly returns to date.
36:24So, this is what you're dealing with if
36:26you're sitting there at a mutual fund,
36:28at an asset management, at a hedge fund,
36:30and you're not trading this. Ethereum up
36:3256% quarter to date. Salana up 38.
36:36Bitcoin up 36. The S&P 500 up three,
36:40NASDAQ down three, SMH down 14. Do I
36:44think these are going higher between now
36:45and the end of the year? Yes. But I'm
36:47going to tell you, earnings are growing
36:49at 30% a year. These things are growing
36:51at half of that. This is my double
36:53debasement story. I'm gonna keep saying
36:56it. Crypto is going to take a high
36:59percentage of the fiat asset over the
37:01course of the next five years because of
37:03the disruption from AI and the need for
37:06the government to prevent rates from
37:07going higher and to make sure that the
37:09K-shaped economy is kept in check. Robin
37:12Hood stock soarses thanks to Wall
37:14Street. Robin Hood is part of the 46name
37:16crypto portfolio.
37:20If you didn't read what happened, they
37:22were upgraded by multiple places and one
37:26of the reasons is because of their new
37:28layer 2 chain. So they are heavily
37:31involved in stock token trades. So we
37:35are already in tokenization. In just six
37:37weeks, a billion a half dollars trades
37:40sounded like science fiction two years
37:42ago. Here are the numbers. Looks kind of
37:45like the token expansion in AI. Look at
37:48this happening now. Okay. All in August.
37:52Here's the RWA market. The reason I
37:54wanted to show this, this is growing
37:56too. And it's grown 18 times. Now, the
37:58real world asset market has mainly been
38:02the building of the collateral here with
38:04the stuff that Black Rockck has done,
38:06the things that uh Franklin Templeton
38:08has done, all Tro all of these places.
38:11But they're doing money market funds.
38:13They're gradually getting into things.
38:14This is the collateral in there. This
38:17was the first phase. Now we're starting
38:19to get into not just tokenized stocks,
38:21tokenized equity for sports teams. South
38:24Korea is saying they'll be ready by or
38:27starting 2027, February 4th. This is not
38:30a US thing. I showed Japan last week.
38:31South Korea, this is a race now to make
38:34sure that you're still involved in
38:35capital. If you haven't read anything
38:37about PERS, here's something from a A16Z
38:42uh crypto. You have to start reading
38:44this stuff and start realizing this. The
38:47catalyst for this was Iran. The catalyst
38:49for this was SpaceX and Anthropic
38:52perpetual futures. The ability to trade
38:54things 247 365. The ability to not have
38:58to deal with roles on futures. You have
39:00to understand this stuff because all of
39:01these financial innovations are
39:03happening. Here's where we are now. The
39:06tokenization roadmap. Legacy finance
39:09before tokenization. This old slow
39:11system. Crypto smart contracts are
39:14basically created.
39:16All of these things are value. Then we
39:19get into the bridge being built. Tradfi
39:22goes, "Okay, we're here. The government
39:23accepts it. Now we're going to start
39:25getting into this over the next 12
39:27months and then into 2030. This is where
39:29crypto benefits dramatically." This is
39:32where portfolios, wallets, everything
39:34starts to happen. And you have a
39:36decentralized, democratized ability of
39:39ownership where you can go buy something
39:41that is small. you can go buy anything,
39:43IP trades, all of this. This is a
39:46completely different world. So, this is
39:47not something that you can sit there
39:49like with AI and be like, "Okay, I
39:50understand it. I I guess you have to put
39:52the work in." And that's what I'll be
39:54spending the time. And that's what I've
39:55been doing myself for all of this time.
39:58This is the reason I chose not to go to
40:00a hedge fund. It was because I didn't
40:02want to manage people. I didn't want to
40:03work for investors. I didn't want to
40:04work for management. I didn't want to go
40:06through that anymore. But I also believe
40:07that I could be an entrepreneur and I
40:09could make the money I'm making and
40:12benefit from AI and crypto, which is
40:14what's been going on. This is why I talk
40:16to you guys on this. I'm not stuck
40:18behind a desk forced to do certain
40:20stupid things and not be able to use the
40:22tools. I can use every AI tool, and I do
40:24use every AI tool. I have multiple
40:26computers, multiple Mac minis. I
40:28understand crypto far more than I did
40:30two years ago. So that's why people
40:33reach out to me and that's why I'm
40:34telling you right now is the time the
40:36convergence is happening. Not three
40:38months ago, not six months. That's why
40:39those charts look like that.
40:40Tokenization is growing now. I just
40:42showed you the Robin Hood stable coin
40:43that the RA Robin Hood onchain that's
40:46happening now. AI trades stuck in the
40:48mud. We've seen V explode in the AI
40:50names. They've already had their run
40:52from this point. There's all kinds of
40:54risk associated with Micron. Do I think
40:56it'll double between now and the and
40:58next year? Probably. But a doubles not
41:0110 times. That trade has already
41:03happened. Policy wants it higher and
41:06they want rates in check. We just
41:07started to see this with the yen side
41:09the same week as the AI trade gets stuck
41:13in the mud or ends up blowing up with
41:15Liupold. The tape breaks out on the back
41:18of this. Then we have the rise of agents
41:21beginning. I show you Astra. I show you
41:23Grockbot. They're all happening now. And
41:25the governments are if clarity act gets
41:28voted through. I think you're going to
41:29see an immediate next leg to this. You
41:32have to be ready for this. The G20
41:34talked about it. The Jackson Hole
41:37Symposium. It was throughout that. This
41:40is not just a US thing. Best involved
41:42around the globe. I know what the
41:44Japanese are planning on doing.
41:46Robin Brooks, bond yields are going
41:48higher. I wrote this paper. The age of
41:51abundant intelligence and scarce
41:52Bitcoin. Two presses running at once.
41:54This is the key to crypto. This is the
41:56key for you to pay attention to. We are
41:58seeing multiple impression in the S&P
41:59500 because of AI. Terminal value is
42:02being changed. So PE's come down. At the
42:04same time, the government is in there
42:07debasing. Don't listen to people saying
42:09inflation's running too hot. The Fed has
42:11to go on a tightening cycle and all this
42:13stuff. The market's not saying that
42:15right now. If it was going to happen and
42:16the market was worried about it, we'd
42:18see it. Earnings are growing rapidly.
42:20This is what happens. And now we have
42:21crypto starting the move. Until we break
42:25out, we haven't gone through it. Once we
42:27get above 82 and we're above there, I
42:29think there's going to be a chase
42:30factor, particularly as you go through
42:32this. The Fed meeting has now taken on
42:35extreme importance because if the market
42:38trades higher after the Fed raises
42:40rates, I don't think it's going to stop
42:42from that point. If they don't do
42:44anything, then I think you're gonna see
42:46the market trade higher. So, right now,
42:49because it's already built into the
42:50market, I think you're playing a game
42:52here with the midterm seasonality. Um,
42:54in this paper, I talk about the double
42:56debasement. I talk about the printing
42:57intelligence. I'm bringing that up so
42:58you guys can go read it. You can catch
43:00up if you haven't paid attention. These
43:01are all substacks. These are all out
43:03there. All of my writings in crypto will
43:05now be part of the subscriber side. I
43:06will do one a month for the loyal sub uh
43:09substack people that have been there.
43:10So, I will release one a month. That'll
43:12be a thematic thing similar to this, but
43:14the majority of my papers are going to
43:15be on the subscriber payw wall. Um, the
43:19silent IPO is over. Bitcoin AI and the
43:21Collision of Time. I highly recommend
43:23reading this one. This is the one I
43:24wrote on the first week of August.
43:26Handicapping the future. This one goes
43:29through how I think about Bitcoin and
43:31how I've gone through to think about
43:32converting it into probability. So, I'm
43:34going to end this here. For those of you
43:36who don't know, my father trained me in
43:37handicapping horses. He told me not to
43:40look he told me to not look for the
43:41winner. Always look for value. If there
43:44is no edge in the race, sit it out. So
43:46what that means is if I find something
43:48that I think is 100 to one, which is
43:49what I think Bitcoin is. It's not just a
43:52winner. I don't need to put that much
43:54money in something that's 100 to1 to
43:56have a great payoff. That's the way I've
43:58approached it. Annie Duke, the edge is
44:00in disciplined thinking. If you believe
44:02in bit, don't believe in Bitcoin today
44:04and you didn't believe in it 10 years
44:05and you haven't thought about it or gone
44:06through it, you're not being disciplined
44:08in your thinking. Charlie Munger said,
44:10"The world was a paramutual system,
44:12which means you can convert everything
44:13back into odds because it reflects
44:15people's positioning. Prices reflect how
44:17capital's position. The crowd sets the
44:18odds." I believe that mispricing appears
44:21when the crowd misses something. I'm
44:23showing you what I think the crowd is
44:24missing. They're not using AI. The
44:26people that have most of the world's
44:27money and they don't believe in crypto.
44:30They're missing what's happening. They
44:32don't understand it, which is fine. It
44:34creates the opportunity. Paul Tudtor
44:37Jones, great trade start before
44:38consensus. That is my third wave start.
44:41That is where I believe in Elliot wave
44:43terms. Great trade start before
44:44consensus. Right now, people are
44:46depressed. Both people that have been
44:48there, the ideologues and the silent
44:50IPO. You don't have to agree with me on
44:52this, but I'm giving you my thesis and
44:53laying out how I approach it. Stan, good
44:56idea. No positioning equals opportunity.
45:00Perfect. This is where I think we are
45:02right now. Size the bet without blowing
45:03up. So that gets into the probability.
45:06So this is the way I'm going to finish
45:07it. If you believe that there is at
45:10least a 5% chance that crypto is going
45:12to benefit from AI agents and as a AI
45:15agents grow, they're going to be nuding
45:16this and the ecosystem is going to
45:18continue to grow because tokenization is
45:20going to happen or else it's going to
45:21go. What is your position in Bitcoin?
45:23What is your position in crypto? If it's
45:25zero right now, do you think there's at
45:27least a 5% chance that it happens? If
45:29you think there's a 5% chance, you
45:30should have 5% of your money in it in my
45:32opinion. That's my opinion. That is not
45:34advice for you. But for everyone out
45:36there who's thinking about this, if you
45:38think there's a 10% chance it should
45:40happen, I think you should have a 10%
45:41chance. If you're looking to make money
45:43because you have money or because you're
45:45young and you have time to make back
45:47money you can lose and you want to put
45:48more, that's your choice. I do believe
45:51that right now is a good riskreward. If
45:53we take out the lows, I'm out. I don't
45:55want to be involved anymore until we go
45:57back and we break back above the 200 day
45:58moving average. But for now, that's what
46:01I believe. That's how I get to those
46:02thoughts.
46:04Disclosures.
46:06Again, read them on your own. I'm not
46:08here to guarantee things. I'm not here
46:09to have you buy the names that I buy. I
46:12trade them. I'm involved in them. For
46:14the RAAS, reach out. Remember, go to
46:16viser-labs, visserylabs.com.
46:19You can find out how to get involved.
46:21But remember, it is important right now
46:24for you to be involved in AI agents and
46:26to be involved in crypto. I will start
46:28my AI plus crypto YouTube which will be
46:30separate. It'll go up and go up to
46:32subscribers beginning towards the end of
46:34the month. For now guys, have a great
46:36weekend and I will see you next

About this transcript

This page contains the full transcript of The Bond Market “Crash” Is a Trap — AI Agents Are About to Ignite Crypto by Jordi Visser, generated from the public captions YouTube serves with the video. The transcript has 8,865 words across 1,253 segments, with the original timestamps preserved so you can click any line to jump to that moment in the embedded player.

What you can do with it

Use the transcript to take notes, quote the speaker, build a study guide, generate a summary with ChatGPT or Claude via the YouTube Summary tool, or export it as a timed subtitle file with YouTube to SRT. You can also re-open it in the transcriber to translate the transcript into 100+ languages.

Free YouTube transcript tool

YouTube2Text is a free YouTube transcript generator — no signup, no daily limit. Paste any YouTube link and get the full transcript instantly, with timestamps, click-to-jump, translation to 100+ languages, AI prompts for ChatGPT, Claude, and Gemini, and exports to TXT, SRT, VTT, or Markdown.