X22 Report's latest guest interview with Bob Kudla is chock full of information ranging from inflation to Bitcoin to rail strikes and more. The picture isn't rosy going forward for most cryptos but Bitcoin will get through the present crypto carnage with minor scratches.
The interview starts off with a discussion on Europe, primarily Germany with inflation at all-time highs and soaring food and energy prices and its likely impact on the economy as well as the natural gas issue. Their strategy of cutting off Russian gas is not working and he worries there could be mounting deaths this winter, which is just getting started. Then, Italy and Spain are mentioned with Italy being the most susceptible to energy shortages while Spain just announced some sort of bond subsidy for 1,000,000 mortgages.
They then go on to the Green New Deal / electrification movement which Kudla suggests will implode sometime in 2023 because of high prices and non-reliability (There's not enough lithium anyways).
The discussion then moves on to a possible rail strike to hit the USA next month, forcing inefficient use of diesel at a time when there is a critical shortage of. Because of this, Kudla expects serious disruptions if a strike does occur and to have 3 to 4 weeks of supplies on hand. Coupled with China's Covid lockdowns, we may see massive shortages (See China FoxConn iPhone workers revolt).
California is then brought into the conversation. Kudla suggests that if Gavin Newsom plans on running for President in 2024, things might not go well for him since his state will likely be in a depression. He says that all the layoffs from big tech, Meta (Facebook), Twitter, Amazon and so on will lead to real estate crash that will ripple across the country, inflicting permanent damage on his image and dashing his hopes for a Presidential run.
The FED is brought into the equation with Kudla warning to expect double digit inflation next year and higher fuel prices. He sees oil heading to $113 per barrel, meaning a $1 to $1.20 increase at the pumps.
As for Bitcoin, Kudla says it's impossible for Bitcoin to go to zero as it has its own unique ecosystem and separate from the highly leveraged crypto space. He also points out that 91% of all cryptos don't even trade and that Bitcoin "is going to come out of this just fine". FTX was a setup from the start and involves a lot of 'hot' money and Bitcoin might go down to $13,000, maybe a little lower. "That, to us is 'back the truck up and buy some more' positioning". Kudla states that "Bitcoin is digital gold" and has no liability and is not affected by runs on an exchange and more people are moving their crypto from exchanges into cold storage (See my previous article, 'My first successful crypto transfer to my Ledger Nano X cold storage wallet').
There's much more in this half hour interview which can be viewed on BitChute. Link is below...
One last thing, Kudla is short Coinbase.
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