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this video is brought to you by passport the Bitcoin Hardware wallet you already know how to use stay tuned to the video to learn more [Music] hey everyone welcome back to the Bitcoin layer today we have a very special guest Peter St owns this is his second time now on the show and what a time to have a guest like him on the show to talk to us about the state of markets the state of the fed and frankly how Austrian economists are totally Vindicated in the light of yet another crisis and the feds response to it so so Peter welcome to the show man thanks its great to be back to you absolutely absolutely well you know lets um lets dive right into it uh talk to us about where were at in the economic cycle obviously you know the FED one on this really aggressive tightening campaign 13 months ago theres talk that policy takes 12 to 18 months of a lag to actually transmit to the real economy and then within a few weeks you know Banks went from fully solvent no issues whatsoever to a str