The John-Henry Westen Show - Bitcoin blows past $100k since Trump's election. Here's what to know

00:00:00.320 Advisors who tell people, what's your choice? Do you want gold or Bitcoin? And who frame a

00:00:06.800 discussion such that it's one or the other, or that they are similar assets, are doing a great

00:00:11.800 disservice.

00:00:20.660 Hey, my friends, have you seen Bitcoin going through the roof? President Trump just said

00:00:25.540 it may hit a million dollars US. We want to get into that with our financial expert Drew

00:00:30.640 Mason. But also, did you know there is an opportunity that wealthy folks are using to

00:00:37.960 leave huge gifts to their children tax-free? And many of you probably know nothing about

00:00:44.040 it. Stay tuned to this episode of the John Henry Weston Show with Drew Mason from St.

00:00:48.260 Joseph's Partners.

00:00:48.760 We are on the brink of global war, maybe even nuclear war. This could be the beginning

00:00:57.140 of the long-foretold chastisement in which the living will envy the dead. Our only hope is 0.82

00:01:04.520 Jesus Christ, the Prince of Peace, and people hearing the truth of Jesus Christ. And that's

00:01:11.980 what LifeSite News is for. It's keeping Christ in the culture. It's bringing you the truth

00:01:17.800 about the news, always. But the odds are against us. If you want to play your part, then head

00:01:24.200 over to give.lifesitenews.com and support our Christmas campaign today. Thank you, and

00:01:29.900 God bless you.

00:01:31.420 Drew Mason, so good to be with you.

00:01:32.960 Praise be to Jesus. Thank you for having us, John Henry. Great to be here. And as we do

00:01:37.760 this, celebrating December 12th, the Great Feast of the Americas, Our Lady of Guadalupe,

00:01:42.560 it's wonderful to be here with all of your viewers.

00:01:45.260 Awesome. Let's begin, as we always do, at the sign of the cross.

00:01:47.340 In the name of the Father, and of the Son, and of the Holy Ghost. Amen.

00:01:53.240 So, for everybody who doesn't know yet, Drew Mason is the head of St. Joseph's Partners,

00:01:58.840 the gold firm with which LifeSite News is partnered to make sure all of our families and our readers

00:02:05.520 are able to invest with a safe company in gold to set up for their futures.

00:02:10.880 Drew, let me ask you, Bitcoin is huge in the news. It's at the highest level ever,

00:02:15.460 I think. I'm not a big Bitcoin follower, so I don't know that much about it. But I just heard

00:02:20.120 President Trump the other day saying that it's going to hit a million dollars US. It's like at

00:02:25.940 100,000 now. Tell us about Bitcoin and what's going on.

00:02:30.540 Without a doubt, Trump is strongly supporting cryptocurrencies and Bitcoin. And since his

00:02:38.040 election, they have been on fire. And Trump is saying that he is going to use some of America's

00:02:46.580 challenges at this point in time and use Bitcoin as a way to work through those. So, if he is that

00:02:54.240 committed to it, it is potentially changing the outlook for Bitcoin. And I want to delve into the

00:03:01.940 specifics with the audience because on the one hand, I want to say to everyone, we would not tell you

00:03:09.180 don't own any. But the point we want to really drive home is to understand what Bitcoin is. And

00:03:17.520 advisors who tell people, what's your choice? Do you want gold or Bitcoin? And who frame a discussion

00:03:25.780 such that it's one or the other or that they are similar assets are doing you a great disservice?

00:03:32.020 Because Bitcoin is, at the end of the day, showing all the signs of being a speculative asset.

00:03:39.320 Again, it may work out fabulously. But as your team will pull up here, John, and we have a chart to

00:03:46.380 the viewers from X. And it shows the performance of Bitcoin relative to looks. Now, some

00:03:55.380 viewers may not realize, but one of the first and most famous financial manias was tulips in the

00:04:03.160 17th century in Europe.

00:04:05.120 Tulips like the flowers?

00:04:07.000 Tulip bowls. That's exactly right. And it's hard for us to comprehend this and it sounds ridiculous.

00:04:13.220 But people got into their minds that the tulip bowl was going to be the center of wealth

00:04:18.560 moving forward and wealth creation depended on it. And people begged the price of tulip bowls so

00:04:25.080 high that they literally were more than a house in the Netherlands and whole years working wages.

00:04:32.860 And then, as has happened throughout financial history, something unexpected triggered the

00:04:38.500 awakening to reality. And the price of tulips imploded. And people who had had too much exposure,

00:04:46.040 who were thinking of tulips as a safe asset, were wiped out. Now, you may say, that's just ridiculous. 0.91

00:04:51.440 Who would ever put their wealth in tulips? But what I would like to say is look at the chart

00:04:56.260 of tulips and see how it went straight to the roof. What you can see is this similar price behavior

00:05:02.680 by Bitcoin that I would say to you, no matter how bullish you are in Bitcoin,

00:05:07.000 warrants some caution because no asset goes to the world. And similarly, what you see here is the price

00:05:15.020 of NVIDIA. And the audience has probably heard of NVIDIA. It is the semiconductor chip company.

00:05:22.140 And they are perceived to be intertwined with the future of artificial intelligence.

00:05:28.020 So anyone who is thinking, I want to invest, I want to profit from artificial intelligence,

00:05:32.740 the way Wall Street is held up to that is through NVIDIA because they make chips that are used,

00:05:36.580 the servers that work on AI. And if you look at that again, you see this aerobolic move that history

00:05:46.180 says is unsustainable. Now, in this case, because NVIDIA is a stock, we have some data points that I

00:05:52.440 think you would want to be aware of. But we have seen in the most recently completed quarter, the CDO

00:05:57.960 of NVIDIA sold $700 million of his personal stock in NVIDIA. So he owns even more than that, but he

00:06:08.960 chose as he looks at the future and he thinks about what is likely for these moonshots that are taking

00:06:17.460 place. He chose to take $700 million out of NVIDIA and put it elsewhere. If you are really bullish on

00:06:26.840 the outlook for your company near term, you're not going to do that. Similarly, his team, they add up all the

00:06:34.380 executives and the board members. They sold over a billion dollars. So they said, while they're out here

00:06:39.260 talking to the retail public and telling them how great AI is going to be, now NVIDIA is

00:06:44.500 indispensable, they're voting with their own wallets and they're selling stock while retail investors are

00:06:51.100 getting it through the roof. So the next chart, because you wanted your TV, your viewers, the city,

00:06:57.960 what is transpiring here, we wanted you to see this correlation between Bitcoin and the tech sector,

00:07:08.140 technology stocks. If Bitcoin really was a hinge to protect your wealth, in case the tech sector

00:07:17.360 has a strong drawdown, then you would see Bitcoin be fading in an inverse manner to the tech sector.

00:07:26.000 But what you see is that Bitcoin is preferring through time in line with the tech sector,

00:07:32.480 giving credence to what I am submitting to you, that it is an asset of speculation.

00:07:38.100 Now, again, crystal clear, not saying it has to fail. Trump has brought massive support for Bitcoin.

00:07:45.900 What I'm just submitting to you as an audience, because if you have earned, you know, much of

00:07:50.840 your life's earnings already, if you're getting older, you don't want to be wiped out if there's

00:07:55.920 a crash and say, oh my gosh, I should have known that. Yes, you absolutely must have. You must

00:08:00.600 partition your portfolio appropriately, be at risks. Now, in contrast also to what we see happening with

00:08:09.080 when Lydia and Bitcoin, I want to pull up this quote, our third and final slide to your audience.

00:08:15.760 Trump nominated Scott to be the treasury secretary. Scott is a billionaire. So in contrast to,

00:08:25.080 you know, the blue collar workers who are out there buying Bitcoin, what he is saying is that gold

00:08:32.100 is his largest position and that he thinks we are in a multi-year bull market for gold.

00:08:39.980 When you say position, what do you mean?

00:08:42.660 So for many Americans and families, your home may be your biggest asset on your company balance,

00:08:52.180 on your personal balance sheet. So if a family's worth, say, $500,000, for many families,

00:08:58.460 their home is the most valuable asset they own. Maybe it's worth $250,000 of the $500,000.

00:09:06.640 And the other $250,000 may be stocks, bonds, your cars, things like that. For Bissette, who is a

00:09:16.280 billionaire, he has chosen to make gold, the biggest portfolio allocation that he owns. And I want to say

00:09:25.960 this is really significant because his history, his set's history is he made a fortune by recognizing

00:09:33.440 that the currency of Great Britain was hopelessly flawed and was extremely overvalued. And he

00:09:42.020 prospered abundantly by betting that that was going to come down to reality. So here's this billionaire

00:09:49.500 billionaire who arguably is one of the greatest currency triviers of our generation. And as he

00:09:55.000 looks at currencies, the dollar, the euro, yen, the Great British pound, and gold, he has chosen to

00:10:03.500 make gold the biggest owing in his portfolio because he sees all these flaws, these problems that are

00:10:09.540 maturing in these currencies and that will in all likelihood flow through to the fixed income markets

00:10:15.720 and ultimately equity in real estate as well. So he is saying, as should be many viewers here,

00:10:22.340 thank you, God, I am successful. I have assets saved up. The last thing I want to do is get blown up.

00:10:29.920 And so he is positioning in gold, not only because gold is so defensive, but he knows the history of

00:10:36.860 gold. When these currencies hit air pockets, when the markets hit air pockets, the relative value of

00:10:42.720 gold historically has done extremely well. So the irony, what is happening here, John Henry,

00:10:48.780 is that we are witnessing that, I would say, the destruction of the fundamental underpinning of

00:10:56.120 Western finance that all financial advisors are using. They tell their clients the U.S. Treasury

00:11:00.960 bill, which is the dollar, led for just three or six months. They say that is the risk-free. That is

00:11:07.420 the safest investment. That is getting blown out of the water because of our debts and inflation.

00:11:12.300 What has been the safest currency over time, going back thousands of years, has been gold.

00:11:19.920 Ironically, even though it has been the safest, I can't promise anyone it's not going to lose that.

00:11:25.840 But what I can point to is this track record in finance that has done so well for families who

00:11:31.340 allocated a portion of wealth. But ironically, even though it's so safe, what we see happening is that

00:11:37.220 gold also tends to appreciate. Notably, usually it's like, oh, it's a safe asset. It doesn't have

00:11:42.960 any upside. What percent seems to see, and what history points to, is that even though gold is so

00:11:48.580 safe, it does have upside. Now, can I tell you it has the upside of Bitcoin? I can't. However, again,

00:11:55.640 your portfolio should be like a well-oiled machine. You decide what amount of your wealth you want to have,

00:12:01.400 pedal to the metal, going for it. And if you make 100x your money, great. But if you lose it all,

00:12:06.300 it's not going to devastate your family. And what percentage of your portfolio do you want to have

00:12:10.060 that is, I can go hand on my pillow and know where I am in life, that we have made a decision

00:12:16.720 that will, according to history, protect that portion of my wealth, no matter what is coming.

00:12:22.940 So that is how we are framing and would encourage everyone to think about gold with this long

00:12:28.660 time versus many other speculative assets. If you want to make an investment in gold,

00:12:34.000 please consider doing so through LifeSite's partnership with St. Joseph's Partners. You

00:12:38.440 can click the link in the description below for that. For U.S. residents, creating will has never

00:12:44.320 been easier. Thanks to My Legacy Will, an online platform free of charge, you can now create your

00:12:50.640 own will and choose to include LifeSite News in it. Specify where your funeral will take place,

00:12:56.260 the number of masses to be offered for your soul and how your estate will be distributed. We would

00:13:01.640 be deeply grateful if you remembered LifeSite News in your will. Visit mylegacywill.com slash

00:13:08.720 LifeSite News. Thank you for your support and may God bless you. But let's get on to this issue of

00:13:15.260 this opportunity to gift your kids. Being a Canadian, I was stunned to learn that in America,

00:13:25.220 you can't just give your kids as much money as you want, even while you're still alive. I'm not even

00:13:32.100 talking about it in your will. Just gift it to them. You're not allowed to do that without being

00:13:36.420 taxed, which I thought was crazy. But anyway, there's this thing that restricts you from doing

00:13:42.500 that. What was it last year? You couldn't give them up to, I think it was anything above $17,000 last

00:13:50.400 year without getting taxed. Is that correct? In person, that's correct. Correct. And so this year,

00:13:55.700 2024, the amount you can gift has risen to a record level. Now, what I would say to the audience is

00:14:02.340 studying the Uber wealthy regarding finances. Their behavioral trait is they rarely miss an opportunity

00:14:10.600 to protect themselves from taxes and to get money tax-free to their family. And so this opportunity

00:14:18.560 that many are not aware of is an individual can give this year $18,000 to anyone they choose as a

00:14:26.520 tax-free gift. It will not create a tax qualification for the recipient or for the donor. So if you're a

00:14:32.120 couple, you can give $36,000 and it's free. So you can give that to your child, to each of your

00:14:38.820 children. You can give it to grandchildren. If you're an employer and you've done really well,

00:14:44.300 you have, you know, you see kids who are your company, here's a way for you to get them money

00:14:49.160 that they could use potentially for college or to buy a home. This is actually not only for your

00:14:55.220 children. It can be for your grandchildren and then even friends. You can gift it to anyone you want.

00:15:01.060 The key is you have to have this in place by December 31st, 2024, in order to take advantage of

00:15:08.120 this record opportunity in this current calendar year and to avoid any tax issues.

00:15:14.440 Okay. So yeah, I mean, this becomes a really important issue because when you have inheritance

00:15:19.520 tax and you leave it in your, in your, you know, in your will to your kids, that's all taxed. But so

00:15:25.820 you're saying that now you can actually give $18,000 to any individual child or, or

00:15:33.980 friends or whomever you want. And then as a couple, you can do that twice. So you get you,

00:15:39.100 you're out of your joint account with your wife, you, you can hand on 36,000 to each child or 36,000

00:15:45.340 to multiple people. In America, when you leave money for your heirs, there's a finite amount you can

00:15:51.660 before it's taxed. There's a ceiling on that. So what the very wealthy do is they take opportunities

00:15:57.580 like this to get out significant amounts of money above any tax threshold that would come at that and

00:16:03.740 get this money into the hands of the next generation or the people that they love or two generations

00:16:08.940 down. And if like John Henry, again, there, there are no guarantees with gold. However,

00:16:15.180 let's look at history, let's look at precedent. So if you have a young child now, and they can say in

00:16:20.620 25 years, they're going to be ready to buy their first home. In America today, John Henry, as you

00:16:25.620 probably are aware, homeownership is becoming so much more difficult for young people. Well, if 25 years ago,

00:16:32.720 you had made this gift to a child today, that would be worth over $325,000. They could use and buy

00:16:41.040 almost at the median home in America, at least through a major down payment. It is game changing

00:16:46.640 if we will take advantage of this. You know, we, we think, what can we do that's meaningful

00:16:51.440 for those we love? And what happens, you know, if in 25 years, I'm not here. And you may think the

00:16:57.600 same thing about your children, your grandchildren and those you love. Well, by doing this, you are

00:17:02.720 saving for them, you are being such a steward, as history tells us, we should be that you're

00:17:09.440 setting this up so that they will be able to have a home, if otherwise, they wouldn't afford it,

00:17:13.840 but they will be able to start a business. Now, this also has no requirements, you can give any

00:17:20.640 amount that you would like up to that amount. And there's no restriction of time. So it's not like

00:17:26.160 you have to set it aside, no one can touch it for 25 years. If the child is 10 now and 15, you know,

00:17:33.280 you want to, you want to gear it. So then in 15 years, they can take it out by all that can be

00:17:38.160 done. And again, looking back in history, that also would have been very, very profitable for

00:17:42.560 these children. So, so we stick here thinking, what can we do for those we love in Christmas of 2024?

00:17:50.000 This is something that literally can change lives and families for generations to come.

00:17:55.280 And we encourage believers to be good stewards to do what we see that you were wealthy joining

00:18:02.240 and maximize what remains in your family. How does that fit in with gold? How does the,

00:18:08.960 this allocation to children fit in with gold? So they can save in gold or in silver. You can save in,

00:18:16.480 you know, a plethora of opportunities. So what we do with clients is they can call us and say,

00:18:22.720 okay, I would like to make this contribution tax-free to my children. By the way, we're

00:18:28.320 happy to work with your tax advisors. We'll get on the phone with you to make sure they're totally

00:18:32.080 comfortable with everything. And they can do one of a couple of things. They can say, okay,

00:18:36.080 I'm making this $36,000 gift. I want you to send it to me and I'm going to give it to the child's

00:18:42.480 parents. You know, you can put notes on it, you know, saying this is not to be touched until when,

00:18:47.120 or you can save it in an insured audited vault in a manner that won't require any incremental

00:18:52.800 maintenance payments. And where you are the custodian, the donor of it with specific instructions that the

00:19:02.480 beneficiary of this account is to be so-and-so. And your preference is that they will not touch

00:19:09.760 this money until whatever year it is. So it can be completely customized to whatever the family's

00:19:16.960 needs and preferences are, John Henry.

00:19:18.800 This is a time of advent of, of preparation. Um, give us your final thoughts, uh, on how,

00:19:25.120 cause you, you, you do a unique thing, Drew, you work in the financial sector and you set people up

00:19:31.040 with investments in gold and precious metals, but then you bring to it this religious aspect. And

00:19:36.000 now that we're, uh, in advent, uh, preparing for Christmas, give us some of your wisdom.

00:19:42.160 I don't know if wisdom is the right word for it, John Henry, but what I would say is,

00:19:46.400 you know, if you see being professional in the media, how people's perspective is just deliberately

00:19:53.680 shaped the wrong way. There's not a crisis at the border. The media tells us the media tells us,

00:19:59.520 you don't, you can't have Jesus in business or in schools or in the courthouse. So the media is telling

00:20:09.680 us, you might have to run West looking for a sunrise. And we need to just stop and say,

00:20:17.520 really, are you telling me the truth? And so we would say, we want to be a generation that changes

00:20:27.120 that, but we say, no, Jesus is the foundation. He is the cornerstone of the United States of America.

00:20:33.120 He is our greatest resource. And so as a company, I think you guys in your audience knows, you know,

00:20:38.960 for 15 years, we have been leading endeavor, had America's fan is with us and thousands of people signed

00:20:46.560 up Wednesdays and Fridays, just like first century Christian said, we are all obligated to do.

00:20:52.480 And what we've begun doing more recently, John Henry, since your time leaving us, we've begun

00:20:59.360 opening up our company prayer. So every day we pray the rosary as a company. We study the structures

00:21:05.200 as a company. We pray for deliverance over our health, over our families, over our business,

00:21:11.920 over our homes every day, because it is a spiritual battle. We have to realize every moment Satan's

00:21:17.840 coming to destroy us, but we've had to have the tools to push him back and destroy him.

00:21:22.960 Now we're praying for the always spirit every day, because as our lady told us,

00:21:26.880 whenever you pray, pray first for the always spirit, because when you have the always spirit,

00:21:30.400 you have everything. So in this wonderful and bent season, I see cause for so much hope. We see

00:21:38.400 revival breaking out all across the country. I think I'm less informed, but across the worried,

00:21:46.160 there is so much good happening. So between now and Christmas, let's encourage everyone to do what

00:21:52.400 Jesus said is the most important commandment. That's love God with all our hearts. And if you look at

00:22:00.560 what Moses wrote, he said, the three most important commandments all have to do with that. It's we'll

00:22:07.120 have no false gods besides the Lord. And our lady tells us the biggest false god today is money.

00:22:12.480 Right. Right. Let us ask the always spirit to make God our Lord and not money. Secondly,

00:22:20.880 let us resolve that we will not take the name of Jesus in vain. Let us be conscious. We're watching

00:22:26.800 TV and movies. How awful it is that Hollywood deliberately pushes the name of Jesus as a curse

00:22:33.040 so that we will become desentatized to it. Let us make this a new hour where we're going to take

00:22:40.480 back holding the name of Jesus. And thirdly, again, this may not sound out of work, but Jesus said,

00:22:46.960 this is more important than the commandment for murder. Let us honor the Sabbath. As the Lord said,

00:22:53.440 no work on the Sabbath, no comers, no one working for us, just spending time with him and our loved

00:23:01.120 ones. So between now and Christmas, let's try and put those three commandments that are all to do

00:23:08.080 from Moses writing with God and that Jesus summarizes the most important commandment to

00:23:14.720 level with all our hearts. That's what we're trying to do this Advent. And I think the Lord is pouring out

00:23:21.440 extraordinary blessings on those who take these steps towards him at this time, John Henry.

00:23:27.040 That's great. If you want to take advantage of that trick of the wealthy to leave your children

00:23:32.400 or whomever you wish money tax-free, you can do that through an investment with St. Joseph's Partners

00:23:40.320 at the link below. Drew Mason, thank you so much for being with us. God bless you.

00:23:44.640 Thank you, John Henry.

00:23:45.920 And God bless all of you. And we'll see you next time.

00:23:51.440 John Henry.

00:23:53.200 Hi, everyone. This is John Henry Weston for LifeSite News. We hope you found this video

00:23:57.360 insightful. For more content like this, be sure to check out the links in the description below.

00:24:02.320 You can also follow us on social media to stay updated on the latest news concerning life,

00:24:07.200 faith, family, and freedom.

00:24:08.960 And may God bless you.

The John-Henry Westen Show - December 12, 2024

Bitcoin blows past $100k since Trump's election. Here's what to know

Episode Stats

Summary

Transcript