Trump’s Plan to NEUTER Powell — And Name a SHADOW Fed Chair

0:28Hello, everyone. We've got a lot to discuss today. traditional financial world. He was named the number one financial advisor in the United States and Barron's put him in the financial advisor hall of fame. Yeah, that's a real thing. Rick Edelman is sitting comfortably in that hall of fame. So a lot of people were shocked recently to see Rick Edelman's suggestion that investors should put 10 % to 40 % of their portfolio into crypto assets. Now, these numbers dwarf any recommendation that you're likely to hear from another financial advisor. Everyone's used to hearing one to 3 % allocation recommendations, You know, kind of cover your butt type stuff.

0:57But to hear 10 % to 40%, that's an incredible number, especially coming from Rick. Here are the five major arguments that Rick made in the white paper that he just published. First up, the traditional 60-40 stock bond allocation model, completely dead. This is due to unprecedented rates of longevity, which has been brought about by remarkable advances in exponential technologies. Second, after 39 years, he's announcing for the first time the correct crypto allocation. Conservative investors, 10%. Moderate clients, 25%. And aggressive clients, he says that they should allocate 40 % of their investments to crypto.

1:31The third point is he claims that owning crypto is no longer a speculative position. Failing to do so is. A passive market-weighted index compromised of all asset classes should have 3 % in crypto. So any investor, according to Rick, that lacks crypto is now effectively shorting it. Fourth up, there's no logic to omitting an asset class that's outperformed all others for 15 consecutive years and is widely projected to continue doing so for the next decade or more. Historic performance data shows that portfolios with Bitcoin have generated higher returns with lower risks and produced superior modern portfolio theory metrics, Sharpe ratio, Sorrentino ratio, standard deviation, and max drawdown.

2:10So lastly, the real question, are you as a fiduciary serving your client's best interest or are you simply an order taker avoiding difficult conversations? It's a great point, Rick. But here's the thing. Rick Edelman's not saying anything different than what Bitcoiners have been saying for years. 6040 portfolio is dead. Having a concentrated investment over in... Having a concentrated investment in Bitcoin will outperform over the long run. And ignoring Bitcoin's success is just dumb. All of these points have been widely used talking points for a while. But here's the thing. Rick Edelman, he's a different messenger.

2:41Just like Larry Fink was able to shake Wall Street to its core by launching the Bitcoin ETF, Rick Edelman's likely to shake the wealth management industry to wake up to Bitcoin and crypto assets. Sometimes the messenger is more important than the message, and there is no better messenger than Rick Edelman to give cover fire to the RIA community on Bitcoin. Now remember, these RIAs, they have$144 trillion in assets. It's a heck of a lot of money. Now the RIAs can invest their client portfolios into Bitcoin, and they don't have to be worried about being fired. Rick Edelman's got them covered. There's nothing to be scared of anymore.

3:13and that is a big, big deal. So the Bitcoin community, we should all say thank you to Rick Edelman because he just told RIAs, game on. Everyone wants to talk about interest rates right now and President Donald Trump, he is very, very, very mad at Jerome Powell. He's so mad that he recently sent a letter. If you want to call this a letter, he basically hand wrote on a piece of paper that got held up in a press conference urging Powell that he needs to lower interest rates. He says by a lot. Now in this piece, he says, you have cost the USA a fortune and continue to do so. You should lower the rate by a lot.

3:48Trump also then followed up on social media, Truth Social, and he said, Jerome Too Late Powell, that's the new nickname for Jerome Powell, Jerome Too Late Powell, and his entire board should be ashamed of themselves for allowing this to happen in the United States. They have one of the easiest yet most prestigious jobs in America, and they have failed. Now, of course, Jerome Powell's not going to be in this job forever. He's been there a while, and he's slated next year to be out of the Fed Reserve chairman seat. So who's going to take his place? That has become a big, big debate. And now Donald Trump and people in the administration, they are claiming that they may actually name who is going to be the successor because that would create a shadow Fed chairman.

4:26And when you do that, now the media, now the market has to think, do we listen to the guy in the seat now or do we listen to his successor? That would cause all kinds of chaos, but it would be for a specific purpose. It would basically neuter Jerome Powell, his decision making and his announcements, and everyone would be paying attention to who the shadow Fed chairman really was. So who's that going to be? Well, nobody really knows. But Scott Besson, the Treasury Secretary, he seems to really understand the global economic machine. He seems to be in good with the administration. And frankly, he seems to be doing exactly what President Trump wants him to do.

4:58And so Shanali Bassic over at Bloomberg, she sat down with them and she point blank asked Scott, what do you think? Are you going to be the next Fed president? Take a listen to what Scott had to say. While we're talking about interest rates and the Federal Reserve, it has been recently reported that you might be in consideration for the job as the next Fed chair. When you've been asked about the likelihood recently, you said that it's up to the president. Is it a job that you would want? I will do what the president wants, but I think I have the best job in D.C. We're making a lot of progress with the president's leadership.

5:32Think about it. We are going to have the tax bill on his desk by July 4th. We're going to be wrapping up the trade talks. So I think we had great momentum and we will be working on Chair Powell's successor over the coming weeks and months. You had mentioned that an announcement could be as early as October or November, and Powell's term ends in May of 2026. How is the street supposed to navigate between that announcement time and the time between the term being over for Chair Powell? You were the one, I want to remind people, that had brought up the idea of a shadow Fed chair prior to the election.

6:18Is a new appointee supposed to be considered that shadow Fed chair? Well, not necessarily. We'll see. There's a seat opening up, a 14-year seat opening up in January. So we've given thought to the idea that perhaps that person would go on to become the chair when Jay Powell leaves in May, or we could appoint the new chair in May. Unfortunately, that's just a two-year seat. Now, I don't know who exactly is going to be the next Fed chairman, but what I do know is that Jerome Powell, he's on the way out and someone new is coming in. And of course, why is there so much attention on this? Because interest rates are high.

6:59They should be cut. And if the market is addicted to cheap capital and you don't give it to them, all kinds of problems start. So whether you agree with Jerome Powell right now or not, I know one thing, which is that interest rates are going to go down over time. We're going to return back to cheap capital and the market will continue to hum along. and asset prices, they're going to rip up into the right for as long as we're all alive. Oh boy, ladies and gentlemen, mom and dad, they're fighting again. This is not good for America, but it is quite entertaining. Donald Trump, he's now coming out swinging.

7:30He says that we are going to look from a government perspective at cutting subsidies to Elon Musk's companies, whether it's rockets, self-driving cars, or anything else, there are government subsidies that are going. The reason why the subsidies exist is because we want to incentivize this stuff to be built here in America. But Trump, him and Elon, they're in their public spat, and now Trump is threatening to cut those. So what would Elon do? Is he going to cry in his cereal? Is he going to sit and say, oh no, please don't do that? Of course not. He's going to do the exact opposite. He's literally tweeting at the president saying, cut it all.

7:59Now, do it. I double dog dare you. That's basically Elon Musk's position. You got two people with big egos who are now locking horns and they're going at it. But of course, if Elon's going to say, cut it all now, and he's going to basically tempt Trump, then Trump's going to go ahead and he's going to try to up the stakes even more. A reporter just asked President Trump, are you going to deport Elon Musk? Why you would deport him, how you could deport him, nobody knows. But if a reporter thinks that it's going to get a viral clip, they're going to ask the question. And here's what Donald Trump had to say.

8:29Are you going to deport Elon Musk? I don't know. I think we'll have to take a look. We might have to put Doge on Elon. You know, you know, Doge is the monster that have that might have to go back and eat Elon. Wouldn't that be terrible? He gets a lot of subsidies, Peter. But Elon is very upset that the EV mandate is going to be terminated. And you know what? When you look at it, who wants? Not everybody wants an electric car. I don't want an electric car. I want to have baby gasoline, maybe electric, maybe a hybrid, maybe someday a hydrogen. If you have a hydrogen car, it has one problem, it blows up, you know?

9:10So I'm going to give that one to Peter. I'm going to let Peter test the law. Now, of course, I don't think that the government's going to deport Elon Musk. I frankly think that you got two people who, when they're working together, it's better for the country. And so, yes, we should be cutting costs. Yes, we shouldn't be printing money. Yes, we should stop government waste, abuse, and fraud. But also, we need Elon Musk focused like a laser on his companies. Because he actually has the opportunity to crank on GDP. We can improve our situation if we grow. Elon Musk is our best entrepreneur. Rather than him locking horns with Donald Trump or Donald Trump picking fights with Elon Musk, let's get both of them focused on what is best for the country.

9:48Trump, stop spending money and keep pushing us forward. Elon Musk, go and build your companies and let's get back to a world where these two guys are friends, not foes. And I think the country will be better off for it. Jeff Bezos just threw a bonanza of a wedding in Venice, Italy, but I got proof that Jeff Bezos may not be as excited about this wedding, DeLoren Sanchez, as the media wants you to think. Let me explain. First of all, June 26th to 28th, just now, Venice, Italy. He invited all kinds of people. Oprah Winfrey, Ivanka Trump, Jared Kushner, Kim, Khloe, Kendall, and Kylie Jenner. Got a big brain to remember all of them.

10:23Kris Jenner, Bill Gates, Tom Brady, Leonardo DiCaprio, Usher, Mick Jagger, and Pop. Oh, I didn't get the invite, but that's okay. But Jeff Bezos spent$50 million on this wedding. Now, that sounds like a lot of money. Most people don't have$50 million, but Jeff Bezos is worth a heck of a lot more, somewhere around$240 billion, which means that Bezos actually spent a mere 0.02 % of his fortune. That's like an average American buying a pair of sneakers, 0.02%. Does he even love his wife? Is he really actually that excited about this wedding? He only spent 0.02%. If you got$240 billion, you gotta drop at least a billion on the wedding.

11:01Come on, man. Around 90 private jets arrived in Venice. Approximately 30 water taxis were booked. Italy's tourism ministry estimates that they got almost a billion euros of economic benefit from this thing. And there was over$900 million of media exposure as well. And of course, everyone wants to know what's going on with the ring. If you drop 50 million on the actual wedding, how much does the ring cost? Well, the diamond wedding ring is reported to be as much as 45 carats and it's valued at over$6 million. It's a heck of a lot of money. But again, if you're worth$240 billion, is it really that much money?

11:34And so naturally, Jeff Bezos, Lauren Sanchez, if they're happy, let them be happy. But if you spend$50 million on a wedding, sounds like a lot until you remember, you got$240 billion. If you only spend 0.02 % on your actual wedding, I don't know, man. I feel like some people are gonna have some questions there. And so Jeff Bezos, wish you the best of luck. But 0.02%, gotta get your weight up there, buddy. That's it for today's show. I hope you guys are enjoying it. Please make sure you're following us on X and please make sure that you subscribe on YouTube. I'll see you guys live tomorrow from the desk of Anthony Pompliano.