RUSH TRANSCRIPT Now what ░░░░░░░░ dogecoin Wet it actually ░░░░░░░░ as a joke based ░░░░░░░░ an internet meme but ░░░░░░░░ it has taken off ░░░░░░░░ a real way For ░░░░░░░░ this is dollar it ░░░░░░░░ real Sort of real ░░░░░░░░ what is dogecoin Laughter ░░░░░░░░ as real as that ░░░░░░░░ I get that but ░░░░░░░░ is it man Laughter ░░░░░░░░ keep telling you it ░░░░░░░░ a cryptocurrency you can ░░░░░░░░ for conventional money Oh ░░░░░░░░ it s a hustle ░░░░░░░░ it s a hustle ░░░░░░░░ he kind of let ░░░░░░░░ one out Dogecoin dropping ░░░░░░░░ those remarks from Elon ░░░░░░░░ but then it bounced ░░░░░░░░ off the lows after ░░░░░░░░ tweeted out spacex will ░░░░░░░░ dogecoin for its moon ░░░░░░░░ Meanwhile ethereum the world ░░░░░░░░ second largest cryptocurrency soaring ░░░░░░░░ 4 000 for the ░░░░░░░░ time I m joined ░░░░░░░░ annandale capital CEO George ░░░░░░░░ fifth third bank chief ░░░░░░░░ strategist Jeff cornik Good ░░░░░░░░ see you both The ░░░░░░░░ that dogecoin would react ░░░░░░░░ to a offhanded comedic ░░░░░░░░ by Elon Musk tells ░░░░░░░░ it is not stable ░░░░░░░░ do you say We ░░░░░░░░ with that These cryptocurrencies ░░░░░░░░ a very interesting development ░░░░░░░░ sure but it is ░░░░░░░░ to see as viable ░░░░░░░░ of exchange something that ░░░░░░░░ value whether dogecoin or ░░░░░░░░ we ve seen with ░░░░░░░░ or the rest This ░░░░░░░░ is a real obstacle ░░░░░░░░ widespread adoption David on ░░░░░░░░ other hand George if ░░░░░░░░ re interested in cryptos ░░░░░░░░ has been doing well ░░░░░░░░ year it has been ░░░░░░░░ better than Bitcoin has ░░░░░░░░ is that the place ░░░░░░░░ put your money if ░░░░░░░░ want to make a ░░░░░░░░ on cryptos Well David ░░░░░░░░ never thought we would ░░░░░░░░ back to a 1999 ░░░░░░░░ bubble market in my ░░░░░░░░ but here we are ░░░░░░░░ the most speculative things ░░░░░░░░ all over the map ░░░░░░░░ go up 30 They ░░░░░░░░ down 50 They go ░░░░░░░░ 200 There are two ░░░░░░░░ at play here One ░░░░░░░░ want to gamble in ░░░░░░░░ casino and it is ░░░░░░░░ to do that kind ░░░░░░░░ things but they have ░░░░░░░░ know that Second this ░░░░░░░░ the most troubling of ░░░░░░░░ over all this is ░░░░░░░░ of no confidence in ░░░░░░░░ central banks governments around ░░░░░░░░ world and paper fiat ░░░░░░░░ currency They don t ░░░░░░░░ it They want a ░░░░░░░░ medium It has functionality ░░░░░░░░ it is gambling David ░░░░░░░░ I saw you were ░░░░░░░░ in agreement We ve ░░░░░░░░ all kinds of craziness ░░░░░░░░ central banks to buying ░░░░░░░░ treasurys to even getting ░░░░░░░░ in the marketplace corporate ░░░░░░░░ stuff like that It ░░░░░░░░ a lot of central ░░░░░░░░ all around the world ░░░░░░░░ been showing themselves to ░░░░░░░░ almost as unstable as ░░░░░░░░ Well we re not ░░░░░░░░ critical of the central ░░░░░░░░ approach but we think ░░░░░░░░ increases the risks and ░░░░░░░░ the interest in crypto ░░░░░░░░ a reflection of a ░░░░░░░░ for and all tern ░░░░░░░░ have to the U ░░░░░░░░ dollar as a reserve ░░░░░░░░ and that is a ░░░░░░░░ problem for the U ░░░░░░░░ absolutely David we do ░░░░░░░░ an alternative George and ░░░░░░░░ s gold and gold ░░░░░░░░ been going down the ░░░░░░░░ few months partly because ░░░░░░░░ the rise of cryptos ░░░░░░░░ if cryptos begin to ░░░░░░░░ more than they have ░░░░░░░░ unstable will gold get ░░░░░░░░ boost because people are ░░░░░░░░ for an alternative I ░░░░░░░░ lot of people more ░░░░░░░░ than traders will do ░░░░░░░░ that David But I ░░░░░░░░ crypto trumps right now ░░░░░░░░ it makes you a ░░░░░░░░ lot more money more ░░░░░░░░ a gamble casino This ░░░░░░░░ the unattractive side of ░░░░░░░░ that people are gambling ░░░░░░░░ it David Jeff finally ░░░░░░░░ have this horrible ransom ░░░░░░░░ attack of the colonial ░░░░░░░░ there is work they ░░░░░░░░ asking for payment in ░░░░░░░░ which because it is ░░░░░░░░ and so forth Is ░░░░░░░░ going to be a ░░░░░░░░ against the cryptocurrencies as ░░░░░░░░ banks say look this ░░░░░░░░ precisely the reason why ░░░░░░░░ need national currencies to ░░░░░░░░ hiding money like that ░░░░░░░░ part of our skepticism ░░░░░░░░ these kinds of these ░░░░░░░░ in that their highest ░░░░░░░░ in many ways their ░░░░░░░░ marginal value is for ░░░░░░░░ activity Interesting that we ░░░░░░░░ about two years ago ░░░░░░░░ years ago a thumbnail ░░░░░░░░ of how one might ░░░░░░░░ Bitcoin If you assume ░░░░░░░░ Bitcoin is the winner ░░░░░░░░ all currency you assume ░░░░░░░░ its highest marginal value ░░░░░░░░ illegal activity we took ░░░░░░░░ estimated value of illegal ░░░░░░░░ around the globe divided ░░░░░░░░ into by the total ░░░░░░░░ of bitcoins came out ░░░░░░░░ valuation of Bitcoin about ░░░░░░░░ 000 per token Even ░░░░░░░░ you believe it is ░░░░░░░░ wave of the future ░░░░░░░░ valuation metric I think ░░░░░░░░ reasonable you have to ░░░░░░░░ it is almost fully ░░░░░░░░ David yeah On all ░░░░░░░░ we re shying away ░░░░░░░░ I thought it was ░░░░░░░░ valued at 1000 bucks ░░░░░░░░ shows you how crazy ░░░░░░░░ have gotten Jeff George ░░░░░░░░ you very much Coming ░░░░░░░░ seasonal mask wearing why ░░░░░░░░ Anthony Fauci people may ░░░░░░░░ the mask on after ░░░░░░░░ pandemic is over Is ░░░░░░░░ necessary If you wake ░░░░░░░░ thinking