A highlight from MAJOR Mt. Gox Update! (Bitcoin Sell Date Delayed)


Let's discover some crypto news today. September 21st, it's 1130 AM because we always start on time here, and we got Drew and AJ on the ones and twos. How are you two doing? I'm doing great. Nice white tee, DZ. Nice white tee. Yeah, thank you. Well, I got the V. You got the regular, right? Yeah, you got the regular. Alright, so tomorrow, I'm going to have a deeper V, okay? We were just talking before the show. I want such a deep V that Salt Bae would be embarrassed. He would turn beet red from wearing the deep V, so maybe we have to get it that cut. Drew, your wife actually makes clothing. Will she make a custom deep V for you so we can match? This is absolutely going to happen. Top D with the deep V. Yours has to be in camo. Alright, guys, we're going to talk about Jerome Powell, some of the remarks after. They didn't change the rate hikes, what they mean. Also, we got Bitcoin at Mt. Gox has been moved. What's going on with that? When are these coins going to hit the market? When is this Mt. Gox Bitcoin going to hit the market? Is it going to dump Bitcoin's prices? Is it going down 10K, 1K? So we're going to talk about that as well. We got to talk about Maxine Waters and X potentially turn into a payments platform. Linda Yaccarino, the CEO, tweeted out something last night. We're going to look at that as well. And we got some XRP news. It's going to be a great episode, so please hit that like button, everybody. Are you all feeling good? Are we feeling red? You know, the market's down, but I still feel pretty good. You feeling good? I'm feeling good. Alright. Let's go to blue. Alright, alright. We're also going to have charts with Kelly at the end, too, so it's towards the beginning. Alright, well, let's talk about Fed Chairman Jerome Powell. He spoke at a critical press conference after the interest rates decision. Here are the details. We're just going to break down some of the key takeaways. As expected, they did not increase the interest rate, kept it constant between 5 .25 and 5 .5. And here are the important excerpts from Powell's statement, everybody. We cannot have strong employment market without price stability, so we got to get the price stability in line. Consumer spending is quite strong still. Rebalancing in the labor market is expected to continue. We keep scrolling here. There's a long road ahead for reducing inflation to 2%. And the fact that we decided to keep the policy rate constant does not mean that we reach the policy stance we wanted or not, so they're still leaving themselves open for an interest rate hike. A lot of people think there is going to be an interest rate hike, not the next one, maybe the one after that, maybe in the beginning of the year. And last but not least, we're pretty close to where we need to be. I wouldn't attach greater importance to an interest rate increase. So they're trying to minimize any market impact. I wouldn't attach greater importance to an interest rate increase. I wouldn't care that much if we increase rates. Does that signal that they are going to increase maybe one or two pauses from now? I think that's signaling a strong maybe with a capital M. Yeah, I think a big takeaway from this is where it says the full effects of the Fed's tightening have yet to be felt. And that is definitely the sentiment here. Like this isn't the first time we paused on the interest hikes and the markets have fallen. You know, the past two days on the live stream, everything's going up. Everyone's saying, oh, the price is going up. I'm sitting here saying, I think this is a bull trap. I think the price is coming down because I was looking at the stock market charts, looking at the DXY charts, DXY still going up because of the previous interest hikes coming into play, stock market coming down. But crypto is pumping. I'm thinking to myself, oh, this isn't this isn't going to hold up at all. We're going to come back down the reality. And that has started to happen today. So there you go. Right. All right. Well, let's talk about Japan's economy as well. Japan's economy on the brink as the end stumbles to 148 year low bond yields. So that's a decade or almost 15 decades right there. As Japan contends with depreciating in and rising 10 year bonds, its economy stands at a unique crossroads. The yen's fall to a nearly 150 year to date low against the U .S. dollar brings with it a mixed bag of economic implications. I'm surprised they had the yen that long, you know, throughout all the world wars and everything. Yeah, true. Yeah, yeah. I mean, that's I mean, but still 150 year low, 150. The Bank of Japan now faces the intricate task of maintaining currency stability and keeping yields low amidst a high public debt environment. Complicating the test further is the yen dollar carry trade, which could intensify the pressure on the yen as the interest rate difference between Japan and the U .S. widens. So we're going to be keeping an eye out on that. We did lose the Internet, but it looks like we got it back. All right, Russia. Let's talk about Russia here. Let's rush into this next area. Russian Central Bank replenishes gold reserves to 2023 highs amid economic sanctions, according to a report by Kitco. That's where I use all my silver pricing data. Data from the IMF's international financial statistics reveals that Russia's central bank increased its gold reserves in August, apparently returned to the initial levels at the start of the year. Twenty three hundred tons. It was later confirmed by the World Gold Council. That just sounds like a shadowy group right there. The World Gold Council sounds like a bunch of bond villains. Kitco also reports that Russia is bolstering its reserves to mitigate the impact of Western economic sanctions, particularly those related to its invasion of Ukraine in February. Often we see Ray Dalio made this big, bold prediction as we see an empire on the decline. Debt is relative. And so, yeah, America's debt's terrible, but Japan's is worse. China's is worse. You know, everyone else is worse. So a lot of people use that data point, say America's debt can just get as bad as it wants to be, as long as it's not that bad relative to the rest of the globe. We're in no worry whatsoever. The other side of that coin would be, well, people will eventually stop buying debt and what are they going to start buying? They're going to buy gold, maybe some digital gold as well. So I'm expecting gold to go up. But silver silver price still lags gold. Have you ever done a deep dive on gold versus silver? I wonder if people even want that. Just would you want gold, silver data or you just want only crypto? I remember like a year ago, we were talking about doing a video that was I think we did a video that was like Bitcoin compared to gold and then Bitcoin compared to silver and then silver compared to gold. And it was it wasn't the most interesting video, in my opinion.

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