great to speak with you. >> thanks for having me. >> arthur hayes, otherwise known as mr. crypto or henceforth known as. >> henceforth -- >> that's a guy kind of word >> i think his commentary is interesting. when you asked him a question, has it bottomed? no, it's a test of 5,000 when you look at the q1 rally, it had a 100% rally and here we are quietly up 25 and almost 30% in bitcoin and it's an interesting point. if it doesn't hold it will make a new low and it will probably go back to that 5,000 level relative to the whole move from last october. >> i have a quick question for you. barry silver was sitting there next to us yesterday and i thought it was the most intriguing thing and i thought it was nice of you to re-tweet what he said, he has to spread it across multiple other currencies how do you view how you invest in the whole crypto world that the rest of us are still trying to put our arms around >> i look at it and say there will probably be a half dozen twists in coins that are actually the foundational protocols of the ecosystem so say bitcoins are currency a

bitcoin back in the saddle and the crypto holding steady above 7,000 after a massive breakout, but arthur hayes

as you may know steve hayes of the weekly standard has left town for the year, so i need another chief to hang out with. guy, and asthis arthur brooks is leaving, i thought we could really use another physical trainer. i will spare you all the promotional plugs for my book. as henry the eighth said to each --his wives doesn't need an introduction. i understand election season, midterm is coming up. bills andit to tax other things. let's just stipulate that the economy is doing great. and that you deserve all of the credits. how is democracy doing? resilient, it's the best system aside from all the other systems, right? i had to confess to him that i loved his book, i just haven't read it yet. and i think democracy is facing new challenges it have not have before. you have liberalism on the rise in parts of the world. then you have your own , theenges of relativism ability to monetize tribalism or politics. it's the best system but we have to continue to win these debates. we have to get on with winning it. >> one of my arguments would be is way you win these debates by first and foremost teaching people that debate is importa

you may know, steve hayes of the weekly standard has left town for a year to live in spain and so i needed another cheesehead to hang out with. [laughter] i picked this guy. as arthur brooks sleesk the american enterprise institute as president, i thought we could really use another physical trainer. so we had him come here. [laughter] so anyway. i will spare you all the promotional plugs for my book. i will spare you all that sort of throat clearing. and as henry xiii said to each of his wives, i won't keep you long. [laughter] and he doesn't need an introduction. mr. ryan: i'm paul, hi. jonah: so, i understand this election season, midterms are coming up. you're going around for understandable reasons. touting how great the economy is doing. crediting it to the tax bill and other things and pulling back regulations. let's just stipulate, for the sake of argument, that the economy is doing great. and that you deserve all of the credit. ok? let's just stipulate. how's democracy doing? mr. ryan: it's resilient. it's the best system, except for all the other systems, right? that's the churchill line. i had to confess to him in the room back there that i love his book