Bailey

When you have inflation,

Bitcoin and cryptocurrencies tend to be where some of that money goes.

It just kind of goes over there and there's so much money there.

So much is purchased.

So much is transacted.

It artificially inflates the price, creating somewhat of a bubble effect.

The,

I'll say my own analogy to this is the housing bubble of 2008.

They weren't printing houses.

Obviously they weren't printing money, obviously, but what they were doing is they were lowering the standards by which people got money.

They made it easier to get money, which was the last barrier to wasteful spend.

Then you get into asset backed securities.

So you buy the debt.

So these companies buy the debt.

Do you lend a house to somebody?

knowing full damn well they can't pay it you take the debt you sell it so when i say you i'm talking about a bank you sell the debt to these asset backed security holding companies the holding companies are being enriched by the debt because there's interest in everything else well what happens then if that goes south and that person you know forecloses on the home they fall behind because we knew they couldn't pay it right

When a house is foreclosed, ultimately you're not getting money for the house, number one.

Number two, the house's value goes down.

Three, the area value is impacted.

There's like a domino effect that goes on.