In this episode of the Money Mondays Podcast, we are joined by Luke Belmar the Legend. Luke has been a member of the Bitcoin community since the early days of Bitcoin and has been in the space for a long time. He has been traveling around the world and is currently in Puerto Rico working as a Realtor. We talk about how he got into Bitcoin, what he's been up to, what's going on in the crypto markets, and what he thinks about the current state of the markets.
00:13:22.000And I've always said, like, I think if anything ever happens again, it's going to be like a bio scare, just like it'll be, it'll be everything about your freedom being at compromise or at risk over protecting other people.
00:13:34.000So just been traveling, looking for properties, places around the world where there are safe havens where you can actually build.
00:13:42.000Because as you notice, nobody gets consequences here.
00:15:00.000So, first of all, for the viewers listening and why they should even listen to me in the first place, I've been in crypto since 2016, been buying Bitcoin since $588 when I was waiting tables.
00:15:11.000So I've been in this space for a really long time.
00:15:14.000At the point, it was only 2.5 Bitcoin, but that was my initiation into the space.
00:15:19.000The bull run of 2017 rolled around, got into Cardano, Tron, all these new altcoins.
00:15:49.000After Trump, right before kind of like you could see the pendulum swinging towards Trump winning.
00:15:56.000I think Elon and all these guys endorsed him already knowing that he had secured his place.
00:16:04.000That's why you see a lot of these guys move from New York or California down here and start getting close to Mar-a-Lago and all the fintech guys.
00:16:15.000And you see David Sachs and you see all the guys from PayPal Mafia just kind of like here or Texas.
00:17:11.000So if you were worth a million dollars in gold a year ago versus today, the purchasing power is completely different.
00:17:18.000I think people are measuring their net worth in dollars.
00:17:20.000But if you look at the most intelligent people in society and in the finance space, when civilization is at the brink of civil war and unrest, gold is the place where people store their money.
00:18:41.000I've never heard someone really having crypto give precious metals its due diligence because a lot of people like kind of gloss over precious metals.
00:19:00.000It doesn't have the same convenience as crypto.
00:19:02.000So would you say like the only real, I don't want to say real asset because that sounds awful, but like the real like tangible asset that like you can actually like put your money's worth is you would say precious metals.
00:19:16.000If you look at the founder of USDT Tether, he right now has XAUD, which is the tethered version of gold on chain.
00:19:26.000So what he's trying to do is he's created this loop where they're printing infinite USD through USDT, then putting it into digital gold and then running an entire loop.
00:19:39.000They're going to run up the price of gold to $20,000 fucking dollars.
00:20:02.000China's treasury is holding U.S. treasuries at an all-time low since the Great Depression, not since the Great Depression, since the 2008 financial crisis.
00:20:44.000Once you have all the monopolies set in place, then you can make everybody your slave.
00:20:48.000I was literally with my buddy downstairs being like, isn't it crazy that we live in a world of fiat where everything is credit, everything is debt?
00:21:48.000We're going to mess with you in this way.
00:21:50.000You know, and everyone's like, you know, and then obviously with the decline of the petro dollar and Saudi Arabia not using the petrodollar anymore.
00:21:59.000Well, not doing all their transactions in US dollars like they had agreed to in the 70s.
00:22:03.000I mean, it's, it's a very, and then you got these conflicts.
00:22:05.000Like anytime, you know, you got conflicts, you know, they're going to go gold.
00:22:09.000Like Russia right before they invaded, funny, funny story, somewhat this on my other show.
00:22:13.000The day they invaded Ukraine, they had Hameti, the leader of the RSF in Sudan, he was there delivering a bunch of gold the day they invaded Ukraine because he knew they're going to kick us off Swift.
00:22:22.000They're going to sanction the hell out of us.
00:22:24.000How do we hold money in a safe manner?
00:22:50.000So you're saying you think that gold is going to continue to rise and you look at this as like a market correction rather than a full repricing of everything, rinsing out people that are just tourists, the reprice, because everybody assumes that when we printed trillions of dollars during COVID, that that was priced in right away into the market and it wasn't.
00:23:13.000It takes years for it to get repriced back into the gold standard because it goes into speculation, it goes into spending, it goes into Amazon, it goes into crypto, it goes into all this shit.
00:23:24.000So the moment it has to, it goes from stupid hands to smart hands, smart hands refilter it back to gold, and then it gets repriced.
00:23:32.000And now everybody has lost 50% of their net worth to the real currency, which is gold.
00:23:38.000We are going to go back to a gold standard.
00:23:40.000Like it's 100% going to, we might do it on chain where it's like, yeah, we have a dollar that's backed by actual gold, but we're going back to a gold standard.
00:23:50.000Would you say, because I noticed that like once like we really started ramping up with the Armada in the Middle East with the potential invasion or attack of Iran, do you think that played a role in it?
00:25:24.000If you're investing, you're investing based on conviction.
00:25:28.000So it doesn't matter whether something is $60,000, $90,000, $100,000, $200,000, if you know that it's going to a million and if you're trying to get out of a currency that you don't trust.
00:26:59.000Now you have, I don't know, North Korea can just buy a billion dollars worth of, it's a different game that we live in.
00:27:07.000I think people need to realize that the financial literacy that was taught before is no longer practical, that they need to diversify their portfolio.
00:28:32.000No, we're finally getting the true appreciated value of the paper dollar priced against the real asset.
00:28:41.000Once it's gone through the entire filtering process of what?
00:28:45.000Stimulus checks gone through the entire financial supply chain, back to gold, back to whoever's holding the deposits, the repricing.
00:28:54.000You know, it's interesting because I knew when the world shut down back in March of 2020, I was like, and I saw like, you know, businesses go down.
00:29:02.000I saw people walking around in a mass and, you know, airlines weren't, you know, you got to sit six feet apart, whatever.
00:29:06.000I was like, we're going to, we're going to pay for this at some point.
00:29:11.000Like, this is, this, we are going to pay for this.
00:29:13.000And like, honestly, like, you know, we had a little bit of a recession under Biden, but now with the way things are going, then obviously now we got these wars going on.
00:29:22.000It's like, so you're saying this is like the beginning of essentially us, you know, the Piper coming to collect or after COVID.
00:30:14.000Now he's assigning new chair in the Fed, right?
00:30:16.000Like the entire scheme is Ron Lauder's son-in-law, I think, right?
00:30:21.000Well, and then you look at Canton Fitzgerald and you look at the head of the treasury right now in the United States.
00:30:28.000He's actually one of the co-owners of Tether.
00:30:30.000So the commingling of crypto, the commingling of the government, the commingling of precious metals and banks is so tightly knit together that if you just take some time to study what's taking place, you're going to buy real estate.
00:31:28.000I still see a billion dollars of leverage longs or shorts getting liquidated every week.
00:31:33.000There's still a lot of money in the system.
00:31:35.000And when you look at whether it's Chinese exchanges or whether you look at a Korean exchange yesterday, BitHump, they just minted, it was hundreds of thousands of Bitcoin that they were supposed to give out as dollars, but they reflect it as Bitcoin.
00:32:00.000Yeah, because they're just creating paper Bitcoin.
00:32:02.000So that's why I'm saying like all these financial instruments that are wrapped and wrapped again and rewrapped in ETFs and DATs and all these different things, all these different vehicles.
00:32:14.000The more we speculate, the riskier it becomes.
00:32:16.000The more money you make, the more you want to protect yourself, right?
00:32:45.000Yeah, a lot of crypto guys are freaking out.
00:32:46.000I remember last time this happened, like a year or two ago, people were jumping off balconies in Miami, dude, when Ethereum hit like when it hit like below 2K.
00:37:04.000So in this situation, you begin to structure your life to save.
00:37:09.000And then you're like, okay, I want to go from saving from creating wealth, whether it's from an income of a job.
00:37:15.000You want to create a side hustle because you want, you have two things.
00:37:19.000They're called deficits and then super habits.
00:37:21.000So super habits is when you make more money at the end of the month than you spend, right?
00:37:26.000Your PNL is green, or you call it in the black.
00:37:29.000If you're in the black versus in the red every single month, what you want to take is that additional money instead of spending it, investing it.
00:37:37.000Instead of buying iPhone 1 or iPhone 15, you buy Apple stock, right?
00:37:41.000And that's what the philosophy is: don't be a consumer.
00:37:44.000Understand who is the one that is carrying the value at the time and invest in that.
00:37:50.000Bro, it was so easy to make money over the last five years.
00:40:45.000So many, so many altcoins, so many different chains, like this chain, that chain, this thing that nobody uses is what we call ghost chains.
00:43:20.000So XRP's initial goal was to be the chain for banks.
00:43:24.000However, due to no adoption, due to pre-mining, which means the tokens are distributed to insiders ahead of time, it's no longer trustable.
00:43:52.000I saw it go from 350 back down to 25 cents and from 25 cents back to all-time highs.
00:43:57.000Like, I'm not saying you can't make money with it.
00:43:59.000What I'm saying is, I don't think that what they're selling people, which is the idea of becoming the chain for the banks, is going to work.
00:44:19.000There's other chains that are ready with better tech that aren't fucking 15 years old, that aren't 10 years old, that are literally supersonic speed, compliant, regulated, traced.
00:44:37.000If Ethereum is not, so there's different blockchains for different purposes.
00:44:44.000Ethereum operates as like the decentralized application layer of the internet.
00:44:49.000So whether you want to do financial remittance, build robots on it, whatever, that's the Ethereum is supposed to act as that layer.
00:44:56.000Bitcoin is supposed to act as a store of value.
00:44:59.000You have different chains like Solana.
00:45:00.000Solana is what we call the internet of capital markets, right?
00:45:07.000Which is everything that takes place, whether it's meme coins, NFTs, whatever it is, everything that's fast-paced trading takes place on Solana.
00:45:14.000Now, when it comes to banking, banking isn't going to operate on the same chains that retail operates on, right?
00:45:21.000So I'm looking for where's the liquidity for all of the sectors, real world assets, stable coins, speculation, banking.
00:45:30.000With banking, XRP is not going to succeed.
00:46:28.000I think it's the best way for entrepreneurs to get away from their monitors and their computers and just connect with people in their city in real life.
00:47:26.000Let me ask that question because I think I don't think you've talked.
00:47:29.000I mean, I know you're a fairly religious guy and you believe in God and everything, but like, I haven't asked you too much because, you know, people, you know, it's either they love to talk about it or like, bro, don't ask me this shit.
00:47:37.000So, like, I've always been very weary unless the person is like religiously based.
00:47:40.000But what's your thoughts on that in general?
00:47:42.000Like, what is your what do you subscribe to?
00:47:46.000So I definitely subscribe to Jesus as God, okay?
00:47:50.000Jesus Christ as God, Jesus as the physical embodiment of divinity on this earth, teaching us how to live, dying for our sins, raising from the dead to give us eternal life and hope and freedom, and teaching us not only how to live, but how to behave, how to act, how to treat others, and giving us a standard and a way of being.
00:48:11.000I think that if you look at the world today, which whoever you want to say is controlling the world, they all hate one character.
00:49:15.000So you do go to church, but it's not like.
00:49:17.000Yeah, I go to church sometimes and just like I go on missions trips, just like I go and help on orphanages, just like wherever God tells me, hey, go serve, go help.
00:49:27.000So, so, Luke, um, the people I've spoken, they've been rolled up for years, actually, a couple years in passing, and they want to know Luke.
00:52:10.000And it's good because I wasn't sure if you were going to split off and do your own thing or you were going to maintain that just to not deal with the bullshit.
00:52:20.000And like I said, once you're the face of it, bro.
00:52:22.000Once you begin to achieve success, people aren't going to want to take from your plate.
00:52:27.000They're going to want to say, no, this guy didn't do the work.
00:52:31.000How many times have people wanted to say that you haven't input the work, that you haven't done the hustle, that you haven't put in the hours, that you haven't done the reps?
00:52:53.000I don't want to go too much into it because I'm sure there's probably like legal matters or whatever.
00:52:57.000But I just found it crazy because I was like, like.
00:53:01.000I was going to find it crazy, but then I found it pathetic.
00:53:04.000And just realizing that 40-year-old men trying to do what they want to do online with public stunts.
00:53:11.000But you know what's also interesting, which what I also noticed is how weak men have taken a place in society where they can weaponize courts, where they can weaponize software.
00:53:23.000That's why we see all these betas in society that are doing things.
00:53:27.000It's merely because they've been given power to remotely be able to bully, remotely be able to bother.
00:53:35.000But in person, 500 years ago, that short little kid standing in front of me wouldn't do the same thing, bro.
00:53:52.000And not only that, it's like uncharted territory.
00:53:54.000Because as technology continues to expand and move forward and change, it's like, this is all like all like uncharted territory a lot of the times, right?
00:54:04.000So especially for like these legal people who, you know, I always say like the government and these lawyers, they tend to be like 10 years behind things, right?
00:54:11.000They're not like on the cutting edge of technology.
00:54:13.000I understand how this shit works a lot of the time.
00:54:15.000So, so yeah, but no, man, I mean, give the lawyers some money, let them play the paper minigame while we go do real things.
00:54:38.000But I know I almost got sent there when I was an agent.
00:54:41.000But, like, I'm assuming you don't live, like, yeah, you probably live, like, in a secluded area that's, like, probably getting off and stuff.
00:57:53.000In America, when you play with other people's money, the level of scrutiny and the level of repercussion and backlash that you can get is very high.
00:59:50.000And it's just like you are responsible.
00:59:52.000And if you're going to take somebody's money and you're taking millions of dollars, that means this person has more millions and you're going to fuck with somebody who has a lot of money, bro.
01:00:18.000He said, CIN Masad and Pedo Elite are running some kind of sex trafficking entrapment blackmail ring out of Puerto Rico and Caribbean islands.
01:00:26.000They're going to frame me with a laptop planted by my ex-girlfriend who was a spy.
01:01:42.000Why do you think they, what was his reason why they needed him gone?
01:01:46.000Because he called it out or was he doing some other shit before that?
01:01:48.000Because I'm thinking if they had a spy into him.
01:01:51.000Because these are the guys that are creating the financial tools that the elites are actually trying to utilize.
01:01:56.000If you look at the Epstein files, Epstein was actually Funding the Bitcoin Foundation and a lot of crypto projects before, whether it was through MIT or whether it was through grants, whatever it may be.
01:02:09.000He had his fingers in the entire financial world, bro.
01:02:12.000I was watching a Steve Bannon interview on stream, and the dude was looped in with some very like from traditional Bear Stearns to crypto markets.
01:02:22.000He was involved in every single facet of finance.
01:02:26.000And it's funny because when he was there talking, like, how do I put this in words?
01:02:33.000Essentially, he understood money to a deep level where it's like, okay, look, everything that you think you know about money, you really don't.
01:02:39.000He understood money at a Jewish level.
01:04:07.000So, and he had a very deep under, even though, like, because as he's talking to Steve Bannon, who's a goy, he's talking about money in a very like, like, I guess, simple level so that he would understand.
01:04:18.000But, uh, but it's very obvious that, you know, there's a reason why Les Wexner gave him the money that he gave him.
01:04:28.000He also knew how to weaponize it and weaponize it to get into certain rooms to get other people that were, you know, very wealthy and compromise them, even though they had higher networks like Bill Gates.
01:04:52.000Like, he was weaponizing money at the highest level.
01:04:54.000I'll just say, like, he was literally using that shit as a fucking tool, weapon, not to buy things, but to get into certain rooms to get power.
01:06:00.000He knew that Trump was going to win before why he had all the data sentiment.
01:06:05.000He had the sentiment data, everything.
01:06:07.000Well, it was like a big, like 2024 was like a big Trump app.
01:06:11.000That's why, like, when you see the markets fluctuate so aggressively, is because what would take, you know, two weeks to get across the world when we had the New York Times as a newspaper now, because of X, gets instantly transmitted to everybody right away.
01:06:27.000So everybody reacts to the markets the same instantly.
01:06:30.000So you have insane price fluctuations that the market has never seen before because now you have the newspaper boy landing from the printing press, right?
01:06:41.000Which is the typer, the person that's typing to the reader instantly, equally, whether you're on Wall Street or whether you're in Bermuda, whether everybody gets it.
01:06:49.000Well, I remember the first pump for Bitcoin was when Elon said BTC on the moon years ago and then it flew.
01:07:47.000Like, who the fuck buys precious metals?
01:07:48.000But I think at the end of the day, like precious metals, I think is really where it's interesting that you like, because you're such a big crypto guy.
01:07:55.000I didn't think people saw that you would, you know, come out.
01:07:57.000I'm huge on, I'm huge on it because whether it's AI robotics, chips, everything is precious metals.
01:08:25.000Like, yeah, you want those precious metals.
01:08:27.000What would you say to like the crypto bros that like, because you know, I would consider you like a pretty, a very big figure in the crypto space, right?
01:08:35.000What would you say to these people that like are like, oh, crypto, everything, fuck everything else?
01:08:38.000Because a lot of people that tell people like, fuck the class, you know, diversifying your portfolio, go all in on crypto, fuck the hard assets, fuck the old man money with the, with the banks and the SP 500 and the, you know, index funds and precious metals.
01:08:51.000What, what would be your, I guess, your response to that?
01:08:54.000I have never met a Bitcoin billionaire that only holds Bitcoin in their balance sheet.
01:09:44.000So these guys are doing all these big speculation bets and these big billionaires making these plays.
01:09:49.000These guys have so much land, so much property, so many assets outside of crypto that even if it went to zero or a billion, it doesn't matter.
01:11:07.000There's a clip of Grant Cardone talking about gold and how it's kind of a shitty asset class because you can't sell it right now is what he's saying or some shit like that.
01:11:33.000And they talked about this with gold because you guys know gold is super high right now, which typically happens whenever there's a conflict.
01:11:40.000We'll play the video real quick, then we'll get Luke's commentary because I actually am very intrigued to see what he's going to say about this.
01:11:45.000And for those of you that don't know who Grant Cardone is, heavy real estate investor, you know, he for a very long time, he made fun of crypto.
01:16:08.000But yeah, Grant has definitely undersold his interest in cryptocurrency for a while.
01:16:11.000And I've noticed a lot of these establishment guys, whether they're an investment banking or yeah, like they've like quietly been picking up cryptocurrency and not talking about it.
01:16:22.000And like now everyone's going public about it when it went ETF and became an ATF, et cetera.
01:16:25.000But like for many years, they laughed at it.
01:18:45.000I'm just like, I'm just going to go hang out with my friends, hang out with my family, just actually stop hanging out with these fucking weirdos that I don't know, taking my girl to a place where people are just laying eyes on her.
01:20:35.000But I would say if I he's saying like with the least work possible, real estate could be a one-way, but like at the same time, that it does, like people all think like, oh, yeah, maintaining real estate is the easiest thing ever.
01:24:19.000All last last year went back into token buyback.
01:24:22.000Right now, I think we're sitting at about $30 for hype.
01:24:25.000If Bitcoin goes down, it'll probably get affected.
01:24:28.000But I see hype going to $300, $400, $500, getting repriced.
01:24:32.000We have Keta, which we call the XRP killer right now sitting at about 25 cents, which is about 125 mil market cap compared to 30 or 40 billion dollar market cap with XRP.
01:24:44.000The differentiation is very big, and they're closing massive deals.
01:24:48.000And that's the two alternative plays right now.
01:24:50.000I would say Hyperliquid and Keto, the two big ones.
01:24:53.000Outside of like the conventional assets, Bitcoin.
01:24:55.000This is one thing for all you guys that don't sit there and say, oh, Luke is shilling a thing.
01:24:59.000Guys, look, he's responding to a question.
01:25:13.000Well, you know, people always take it out of cars.
01:25:15.000It's like, look, you're showing this coin.
01:25:16.000It's like, no, you missed a whole other part where we talked about the stable coins, what's safe, what's not.
01:25:20.000You missed a whole part about precious metals, right?
01:25:22.000People, I've noticed that whenever I bring like you on or someone that like does crypto, like they'll clip the one part where they'll talk positively about like an altcoin.
01:25:30.000And like, see, they're showing this coin.
01:25:31.000It's like, you missed the whole other part where they said only get into this with expendable income.