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got a lot of good feedback on our three-part series on froth in excess yesterday you know what I actually expected a severe blowback because I'm basically saying you need to sell something anything just to lock in some gains as I see it the biggest sin in investing is turning a gain into a loss and having committed that sin many times I always have to check to make sure that I'm not being too greedy I thought others would say how can you ever really sell a winner well the answer is sell some take your cost basis out and then you can let aride however there was one place where I was criticized I got a bunch of yahoos saying I called the top in crypto by recommending it first I need to say that I typically do not read the comments on Twitter or X whatever it is I have pretty thick skin and even if I can only take so much abuse I can't there are just too many people who want to rake me over the coals for something I did wrong 10 15 20 years ago or who think it's funny to spoof me like this crypto comment hahaa to me this is internet idiocy at its best I've liked crypto for a very long time most because I know there's a huged consistency of investors who want to buy something that can protect them from our government's busted budget while there's no proof crypto can protect you from anything at least not yet it's a plausible story and it's something that well let's just say sometimes that's all you need in this business I hope the American economy can grow its way out of that huge deficit VI higher tax receipts but I fear that someday we're going to get in one of these partisan debt cealing fights and some White House official will start talking about a cram down or a buyback of Treasury bonds at a discount I am disappointed that both the Obama and Trump administrations refused to issue longer term 50-year paper take advantage of those ultra low interest rates that aren't there anymore would have been a huge Money Saver instead we have all this short-term paper that's now being issued at higher rates what a mistake so I owned some crypto and I owned it for ages as a hedge to the idea that someone in the treasur department truly decid to do something crazy call our bond St North Park don't laugh consider executive order 6102 don't know it in 1933 FDR revered President issued that order confiscating gold from the people of the United States of you and me in order to stabilize the banking system remember back then we stole the gold standard the penalty for not turning it over to the government was a fine of up to $10,000 and that's when $10,000 a lot of money where she go up to prison for 10 years some jewelry $100 in gold coins and artists and dentists were excluded but from a modern perspective this was an absolutely insane move downright unamerican in the context of the Great Depression the banking regulations of the time uh where the FED wasn't allowed to lend more money unless it had more bullion you can see why FDR did it but the whole situation was absurd now these days I still have some gold as a hedge but because it can be easily confiscated dumb ones can be done again I think Bitcoin ethereum maybe even some other cryptocurrencies deserve a spot in your portfolio too maybe one day if the deficit gets under control I'll change my T but anyone who's followed me for more than 10 minutes knows that I'm a huge skeptic about our government's ability to balance the budget it's not that we don't know how to solve the problem it's that legislators lack the political will to do things that are unpopular balancing the budget means making painful decisions to raise taxes or cut spending most politicians would rather just kick the can down the road and make somebody else deal with it ideally the opposition so I own crypto because those national debt worries are never going to go away maybe not my lifetime but I'll go ahead I'm going to call the top by recommending it yet again weird how I've been recommending golden crypto for so many years and yet they're both near alltime highs and I take heat anyway got to go back to not reading the comments just ain't worth the aggravation I like to said as always B Mark we I prom find just for you right here on M money I'm Jim Kramer see you next tim
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