‘Nancy Pelosi is going to Taiwan so she can buy the dip she's about to create.’

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 3 August 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Chainalysis and FTX US. After weeks of speculation, debate and increasingly bellicose rhetoric, Speaker of the House of Representatives Nancy Pelosi has decided to go to Taiwan. In today’s episode, NLW explains discussion around the strategy behind the decision, why the timing makes a harsh Chinese response more likely and how the markets are reacting. - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company safeguards your crypto by relying on five key fundamentals including real-time auditing and insurance on custodial assets. Learn more at nexo.io. - Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: Tasos Katopodis/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:14.8	The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk.
0:24.1	What's going on, guys is tuesday august 2nd and today we are talking about nancy pelosi's trip to taiwan before we get
0:31.0	into that however if you are enjoying the breakdown please go subscribe to it leave it a rating or a
0:36.1	review or if you want to dig deeper into the
0:38.4	conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to
0:42.6	bit.ly.com slash breakdown pod. Also, a disclosure as always, in addition to them being a sponsor of the show,
0:48.6	I also work with FTX. Listen, we had such a nice thing going on. A little rally to end the month. The chance that if it continued, maybe we could actually peel our eyes away from the computers for five minutes. But no, the year of geopolitical surprises continues.
1:07.5	I'd call this a black swan except for the fact that Black Swans are things you can't predict,
1:11.7	not chosen events that increase global volatility. A caveat before we get too deep into this
1:16.9	conversation, I am obviously not an expert on the region or U.S.-China politics, and so for that
1:23.3	reason, I'm going to mostly keep my own opinion out of this and try to just synthesize the
1:27.6	takes of others who are much better informed. But let's start with the basics. Nancy Pelosi has
1:33.6	chosen to go to Taiwan, risking inflaming the U.S.-China relationship, which is already at a low
1:38.4	point. The trip was originally planned for April, but Pelosi caught COVID and canceled that trip.
1:44.2	Taiwan is a flashpoint for China, and many consider it the most risky geopolitical issue
1:49.5	period when it comes to the potential for war. It's important to China because China sees it
1:54.5	as part of China. It's important to the U.S. because of our commitment to democratic sovereignty
1:59.2	and or the fact that it manufactures
2:01.4	around 92% of all advanced computer chips needed for the manufacturer of smartphones, computers,
2:05.9	and military hardware. Trips like this, despite what Pelosi's office has tried to spin, are not
	...

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