Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by crypto.com, nexo.io, and elliptic, and produced and distributed by CoinDes.

What's going on, guys? It is Saturday, October 31st. Happy Halloween. Happy end of October.

Happy Sam Wayne. Happy transition into the holiday season. Today we're going to be talking about

why the world is literally never getting off government

stimulus. But first, let's go through a few other things that happened on this weekly recap.

First of all, let's start with the fact that Bitcoin has been extremely bullish this week.

We punched through 13K on the day the news of PayPal happened. And then in the early part of this week on Wednesday,

markets everywhere went risk off because, one, COVID was rising, two, lockdowns were brewing,

and three, no one believed this election was actually going to be over in a week.

On that day, European stocks actually hit a five-month low, and everything was off. Gold was down 2%.

Stocks in the U.S. were down as much as 3%. Bitcoin, even, for about 10 minutes, dipped under 13K,

but then the Bulls raced back in and said, nope. It's now Friday. We've just had a large number of options expire, and again, we're

still above 13,000, at about 13,250 at the time of recording. I feel like for as bullish as we always

are on Twitter, there's not enough people talking about the fact that this price just hasn't

budged despite a lot of

reasons that it might have. So next, let's shift over and look at J.P. Morgan. First of all,

there was a report they had from last week about Bitcoin's competition with gold. That came out on

October 23rd. Alex Kruger flagged it and tweeted, J.P. Morgan, from Bitcoin is a fraud

and will blow up in 2017 to Bitcoin's competition with gold in 2020. We've come a long way. And

hell yes, we have, Mr. Kruger. Hell yes, we have. Then there's the fact that J.P. Morgan

...