Larry McDonald

So is the natural path globally away from the dollar into hard assets?

the next 10 years and into things like Bitcoin?

I think so.

And remember, the dollar ownership got so crazy out of whack.

It was like 68% of global assets were in dollars.

It got really extreme to the point where we used to call it the dollar wrecking ball.

If the dollar rallied 15%, it caused massive disruptions in the world.

And so people got, the global community got so long dollars in like 2018, 19, 20.

And now there's this move by the White House with Trump, all these different moves, plus Democrats, Republicans, it's hubris.

And yeah, and I think the dollar's gonna lose control on the downside of the next 10 years.

Okay, so it's not as big as the subprime mess.

Because of the size?

Yeah, the size.

Well, so what happened is, Boaz Weinstein, I really respect, Saba, and Kieran Goodwin, they've been out there on Twitter educating people about what happened is the financial advisors of America, the Merrill Lynch's of the world, they

The private credit community went into these guys offering luscious, gorgeous financial incentives for the branch managers, for the management teams to really shoehorn their financial advisors.

Like if you're a financial advisor in LA, and we were out there last summer,

And the guy said in like in the last month and a half, there'd been 12 different wholesalers from the private credit group that are coming in and trying to jam this garbage down the throats of financial advisors.

But in order, Anthony, in order to get the financial advisors and the high net worth individuals, and you know, I don't want to say dumb money, but in every cycle, um,

There's early money and late money into an asset class.

And so they needed that last stage of liquidity to provide exit liquidity for some of the early investors.