37 Burst results for "Domino"
The Eric Metaxas Show
A highlight from Mike Signorelli
"Trump calls Florida heartbeat bill a terrible mistake, and Mike Pence talks war with Russia. So I think if you will allow me to speak critically of Donald Trump for five minutes, I will speak critically. No, no, no, no. Look, you know, and I know, everybody listens who to this program knows that I don't think Trump is perfect. I think he ought to be the next president. And I think that, as you know about me and about many people listening to this program, that we are radically pro -life. We think it's a moral issue. And I think that Trump has made, I think he misspoke. I think it was, I don't know. Well, talk about it so people understand what we're talking about. Donald Trump went on face the nation and said that the heartbeat bill Ron DeSantis bravely signed in Florida was a terrible thing, a terrible mistake. And he said that he wouldn't commit to supporting any kind of federal restriction on the taking of unborn life. And he said with characteristic real estate bravado, well, I'm going to have policies that are going to make everybody happy. Everybody's going to walk away happy from the table. That is not how things work. When you're talking about life and death issues, Mr. President, that is how things might work. If you're negotiating over ownership of a golf course. All right. All right. Each of you is going to get nine holes. Okay. You'll each get nine holes. It's wonderful. You got, you've got half a golf course, half a loaf is better than none. But we remember from the story of Solomon, half a baby is not better than none. In this case, we're talking about cutting the baby in half. Literally we're talking about should abortion, should the pro -life position be, we want a bad abortion after maybe 15 weeks, which would only get rid of maybe 8 % of the abortions in America. If that's the pro -life position, it's not worth a damn thing. That's the law in Germany. That's the law in France. That's the law in Belgium. All these countries where euthanasia is now taking over. Having a 10 week, a 15 week abortion ban solves absolutely nothing. It just means the women who are so dopey, they don't even know they're pregnant until like 18 weeks won't be able to get abortions. That's all it means. He's really just punishing the stupid. It's not saving a significant number of babies. I don't know who Trump is getting his advice from on the abortion issue, but they're not on our side. They are like the Jared Kushner. They're not on our side. What Trump is saying is a complete loser position. It's like saying we're going to build the wall. We're going to build the wall with the Mexican border, except every 20 feet there's going to be a gap. We'll get most of the wall built. There'll guess who will come. I think a couple of things need to be said. First of all, I already said it. Trump is not perfect. So he often has done things that I think are harmful to himself. And saying that I think just politically is a mistake. But we also have to say without a doubt he has been the most pro -life president we ever had in this country. Because of him and standing up for Kavanaugh, Roe v. Wade was overturned. I want to remind people of that. I also want to remind people that he spoke at the March for Life. No other president had done that. And so right now, I guess I find everything with him, not everything, but a lot of stuff just funny. It's almost like he'll say anything Ron DeSantis says, he'll say the opposite. I know. You could be triggered and tripped into that. And it's his Achilles heel that whatever Trump, whatever DeSantis says, Trump will somehow try to spin it. Trump even said that Andrew Cuomo did a better job on COVID than Ron DeSantis. That is literally the most insane thing any American politician has said since Jefferson Davis said I want to secede from the union. It's up to that level of crazy. But Trump, I mean Trump does this stuff for effect. In other words, for political effect to drive people crazy. That's why I guess I find it at least partially entertaining that he'll go out on a limb and say something like that just to trigger DeSantis. The problem is this stuff isn't cute. There were thousands of people murdered in those nursing homes in New York. Abortion isn't cute. This is not something funny. This is not like letting Jared and Ivanka turn the White House into their own little party hut. This is really serious. And our only leverage over Trump is right now during the primaries. If he gets the nomination, he can do whatever he wants because he will be elected president unless they assassinate him, which I do not put past that. I do not put that past the deal. Oh, I know that there have been attempts that we haven't heard about, but obviously they would do anything to get rid of him. We have our leverage now, especially before the Iowa caucus. Trump needs to be told if you keep saying this weak, rhino, wimpy garbage about abortion, maybe we'll hold our noses and vote for you against Joe Biden because we don't want to be put in prison camps. But we're not going to go to the mattresses for you. We're not going to go to the wall for you. We're not going to be fanatical, devoted supporters. We will hold our nose and vote for you the way we held our noses and voted for George W. Bush. Do you want to be the next George W. Bush? Well, no, John, I think it's worse than that. I think what will happen, what will happen is many evangelicals, pro -life evangelicals simply won't vote, which I think is an unbelievable mistake because they feel it's principled not to vote for Trump because he said this about what DeSantis's view. On the other hand, let him think that and maybe it's true and let him act accordingly. It's like if we are so on the reservation, Eric, that they know they have our votes no matter what they do, the Republican Party will keep treating evangelicals and pro -lifers the way the Democratic Party treats blacks. That is, you have no choice where you're going to go, take whatever scraps we throw you. So no, I think it's good. Let him be a little afraid that we will go off the reservation. No, that's why I just said that. That's why I just said that. In other words, I actually believe that that's true because when you look at what happened in the last number of elections, there are many evangelicals who are so pious in the negative sense that they would say, I'm just going to sit home and I'm not going to vote because Trump had three wives and I'm going to let Hillary Clinton or Satan or Adolf Hitler take over America because I'm so pious that I won't pull the lever for somebody who doesn't agree with me on everything or who puts out mean tweets or says things I disagree with. That is effectively how we got Biden because we didn't have a serious situation that we're in. On the other hand, Mike Pence is saying that unless we give long range missiles to Ukraine so it can kill lots of Russians, we'll have to go to war with Russia because it will invade Poland. So in order to avoid war, we have to fight a war. It's exactly what George W. Bush said about Iraq, that we have to fight the terrorists over there so we don't have to fight them over here so they won't do 9 -11 again. Now we know now Iraq had nothing to do with 9 -11. It had no weapons of mass destruction. So he lied us into the Iraq war. In Vietnam, they told us we had to fight the Vietnam war so that the communists wouldn't take over Japan and then Hawaii. The whole domino theory is something that warmongers and the military contractors they work for, they whip it out every time they want to get us in a useless war. They say, well, remember Neville Chamberlain? Remember 1938? And I always say, remember August, 1914, when they blundered into World War I and destroyed all three of the main governments involved in it, all based on nothing, based on lies, based on garbage. Sometimes it's November, September, 1938. Sometimes it's August, 1914. And you're the idiot warmonger about to plunge the world into destruction because of your silly fantasies private about being a big man. Mike Pence is one of those warmongers and he's very dangerous right now. There's never enough time to talk to you, my friend. We'll get you back as soon as possible. Thank you, folks. We'll be right back. Thank you. For 10 years, Patriot Mobile has been America's only Christian conservative wireless provider. And when I say only, trust me, they're the only one. Glenn and the team have been great supporters of this show, which is why I'm proud to partner with them. 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Thom Hartmann Program
Fresh update on "domino" discussed on Thom Hartmann Program
"But yeah, it's a mess. I'm curious about Poland. I've read a number of different things dynamics. The one that caught my attention most recently was a piece about how Putin has tripled down on Polish language, social media, Facebook stuff, and other social media in Poland promoting the idea that Poland should not be supporting Ukraine, and that the Justice Party, this right -wing party that runs Poland, and Mr. Duda, the Prime Minister, are starting to bow to that pressure. Now there are probably other explanations for why they've said that they're not going to provide any more weaponry to Ukraine, and why they're not going on. I think there's a lot going on between Poland and Ukraine, and I do I suspect that Russia has got its information warfare machine up and think running. they're But part of it has to do with apparently food shipments are being sent out from Ukraine through Poland, and partly for sale in Poland that the Polish authorities are not happy with. Is this because the Black Sea ports are blocked right now by the Russians? This is because of the Black Sea port, that's absolutely right. Part of it is also because there are sections of Polish society that are of starting it to is that they need to look at their own defenses and prioritize their own of is it because if Ukraine is lost, then the next of the next domino will be Poland, and so the Poles, very well aware of Moscow's intent, are starting to say we really should be pursuing modernizing our own military as opposed to giving everything that we have to the Ukrainians. There's a lot of dispute. There's a lot of issues that are happening here, not least of which is there's tension between Ukraine and Poland that has existed for centuries. They put it aside after the Russian invasion, and they've been obviously pro -Ukrainian far more than they are. They're very concerned about Moscow, more so I would say than than being pro -Ukrainians, and I guess that's the best way to put that. So there's a partnership that still exists. These rifts are not insurmountable. I've already seen diplomatic efforts, including the Lithuanians. All three of those countries have a very, very old history and a legacy of cooperation and partnership. I don't think this is going to completely sour relationships between Poland and Ukraine, but it certainly doesn't help. Yeah, it's Well, true. the weather has changed. We're heading into, you know, we probably have another month, give or take, probably a little more I'm hoping, of good weather for fighting in. But once the rains in the traditional period come, there will be the mud and all the rest of it. The Ukrainian military says that they are going to continue to fight throughout the winter. But there will be a period where it's just there's too much mud and the transitional period between seasons that will make moving armor around very difficult. But the question still remains, how much more territory can the Ukrainians do before those rains come and the objective being for the Ukrainians to try and split the bridge land between Russia proper and Crimea. And that will send a message to the Russians that there are very serious stakes on the table here. And it will also starve out Russian military bases in Crimea itself. Will they make it? That's a very big question, but they're certainly within range of being able to disrupt the land bridge and that would be a significant victory as well. So we'll have to see how the last few weeks of this intense fighting period will go. They are making progress, the Ukrainians, they're making progress around Bakhmut. They're making progress down towards the place called Takmukh, which is a transport hub, and ultimately they're still trying to push towards the sea ultimately, but if they can even make it to a town or city called Malikopol, not that they have to take it, but if they can get there, then they will have in many ways cut off that bridge, and that's going to be a real shock to the system for the Russians, and I think that's what the Ukrainians are aiming for. Yeah, yeah. What's the status, you know, we learned and you and I talked about this last week Here's a quick look from Walter Isaacson's new book about Elon Musk that a year ago, I guess it was, he to had cut off cut Starlink service, the internet service, to the Ukrainian military to prevent them from in Crimea. What's the status right now? Is Starlink working? I read in one story that some of those Starlink satellites were being sold to the Pentagon or leased to the Pentagon so that Musk wouldn't have his hands on them. I mean, what's the actual situation here? There hasn't been a major development in that story based on the reporting in Isaacson's book. I mean, Musk is his persona non grata here in many different ways. Having said that, as we've discussed in the past, the Starlink system is essential for so many different things aside from actually conducting active measures like directing drones and stuff like that. It helps in logistics, it helps in communications, command and control. It's been a very important piece of kit. And yes, we do know that the US Department of taken Defense has control, whether it's through leasing or whether it's through eminent domain or whatever they have done, they have or taken taking over the running of the system in many different ways. And what one, we for nothing. And because we have heard from Musk's camp is that he's perfectly fine with that, because much of what, apparently, a lot of the technology, it's difficult for Musk to wrap his head around, is that by by involving himself with this, by giving Starlink, there's no way you're not actively involved in the war, you either deny the Ukrainians to the service, and that's why he's their able to conduct offensive operations, or you give it to them and they're able to attack the Russians and who knows how the Russians will respond. And he didn't like being in that position. So now look it like does DOD is taking over. I think generally that's a good thing. Most parties here, I saw put, Tom, if I can just quickly put out a good one on a mental health hotline, check it out because they need support. Okay, great. I will. Thank you very much. In fact, remind us. We'll be right back. Thank you.
Thinking Crypto News & Interviews
A highlight from ELIZABETH WARREN RAMPS UP ANTI CRYPTO PLANS WITH SEC GARY GENSLER - DEUTSCHE BANK CRYPTO CUSTODY
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, we've got big news that Senator Elizabeth Warren has added nine new co -sponsors to her anti -crypto bill. They're all Democrats, those co -sponsors. This has not changed the trajectory of the bill as most of these co -signers were expected. This is being reported by Taylor Barr of the Digital Chamber of Commerce. And you know, it's not a surprise that they're all Democrats, but these Democrats got to get their act together. Many of them are not going to be reelected because of this stance on crypto, in addition to other political issues. And I'm not here to say Democrats are worse than Republicans or Republicans are better, right? I'm pretty much an independent and I look at who's the best candidate from that standpoint. But the Biden administration and many Democrats are really, really screwing themselves over. Now I want to be fair, there are many Democrats who are pro -crypto, right? We've seen Richie Torres, Ro Khanna, and a bunch of others who have been doing a great job. The problem is Senator Elizabeth Warren's voice tends to drown out many of the other Democrats. And she has a large following, right? Because of other issues that she covers. But we know she's corrupt and she's been doing a lot of backdoor dealings with scumbag regulator Gary Gensler. We know she sends him the questions and answers ahead of hearings. We know she's been working with him to try to get the crypto market in a mess. We saw that Promethium was a plant by Gary Gensler and the SEC. And I think Elizabeth Warren certainly helped with that. Elizabeth Warren also contributed to the bank runs that were happening early in 2023. It started with banks that were pro -crypto, of course, and then that domino effect happened where you had a whole bunch of different banks started collapsing. So I don't trust Elizabeth Warren. I don't think ultimately she's going to win anything here against crypto. The most she may do is slow us down. But crypto is going to outlast her and corrupt scumbag regulator Gary Gensler. But we do have to make sure that we keep fighting and we spread the facts. This is why I always tell you guys, contact your representatives, use Twitter and social media to your advantage, make content and much more. We can drown out all of her tweets and all of her things about crypto. And we see the narratives around Gary Gensler collapsing, his false narratives, and he's getting exposed in court. So the more Gary Gensler takes defeat, the more Elizabeth Warren's going to lose wind in her sails to back Gary Gensler and to say, oh, you see all these crypto things are all scams when the courts are disagreeing with Gary Gensler and the SEC. But we've got to be vigilant. We've got to watch out here. She's certainly not giving up. She's up to something. But we're ultimately going to win the war, folks, and crypto is going to outlast both her and Gary Gensler. Now speaking of Gary Gensler, some of you may have seen this video and it's hard to convey this on the podcast, those of you listening on Spotify and Apple and Google. But Gary was interviewed by Brooke Masters, who is a journalist at the Financial Times. And Gary was stating his false narratives and lies, right? He was saying, crypto, these guys don't abide by the law, there's hucksters, there's scammers, the same old bullshit, talking points. But surprisingly, the journalist, the interviewer responds saying, they seem to be finding some sympathetic judges, referring to the SEC's recent court losses to Ripple and Grayscale. Then she said, so you got to watch out there. And if you saw Gary Gensler's face, I mean, those of you watching the YouTube video, just look at his face. This is going to become a meme. He just, he didn't say anything in response to her. It was like this awkward silence and his face just tells it all like, he was not expecting that. And I'm sure it cut him deep. But even, you know, journalists and mainstream media are recognizing this guy is blowing out hot air. Like you can say all those things, but the reality of the situation is you just took a big loss with Grayscale and the judges are ripping you apart. And you took a big loss in the Ripple lawsuit, and it looks like the SEC is going to take a loss in the Coinbase lawsuit. So once again, the optics and narratives are falling apart, and this is what I've been telling you guys. A big part of politics is optics. And he can shout on the top of the hill that, oh yeah, there's all hucksters, scammers, and it's all securities, but the courts are disagreeing and that's where we're going to win. Now, quick word from our sponsor, and that is Uphold, which makes crypto investing easy. Uphold is a great platform that I've been using since 2017. They have 10 plus million users, 250 plus cryptocurrencies, and they're available in 150 countries. Another cool feature is you can trade precious metals on this platform, as well as 37 Fiat currencies. You can easily swap between those respective asset classes, Fiat, precious metals and crypto. So it's pretty incredible. No other exchange offers this type of functionality. So if you'd like to learn more, please visit the link in the description. All right, folks, we also got news here that John Deaton, yes, our friend John Deaton, who has been fighting on behalf of the 75 ,000 XRP holders, well in the library appeal, remember library is now appealing the ruling, given that there's updated case law with Ripple, John Deaton has filed his notice of appearance on behalf of Amicus Curae Naomi Brockwell. So if you remember Naomi Brockwell, she served as Amicus Curae, where she was stating that how she was using the library platform to earn LBC tokens and much more. I was also, you know, using the platform the same way. We know the SEC unfairly attacked the library here, but it's all, you know, the bullshit from Gary Gensler just attacking the market, not providing any guidance, not trying to work with the market. And even, you know, commissioners at the SEC, such as Hester Peirce and Mark Ueda have been dissenting on all these actions. So it's pretty clear what's happening. Now yesterday, we talked about the SEC attacking Stoner Cats NFTs, which was founded by Mila Kunis and Ashton Kutcher. And we know it's just unfair, right? We talked about it. It's like, well, you can't release artwork anymore. What about baseball cards and sports cards, right? Are those all securities now? It's just ridiculous. Well, Stuart Eldoradi, chief legal officer at Ripple, he weighed in on the SEC's decision saying, I don't know all the facts here, but I do know that a settlement to avoid a crushing SEC process without admitting or denying anything is binding on no one. A cynic would call it a PR stunt. What matters is that when seriously challenged in court, the SEC continues to lose. He's absolutely right. But folks, as we've been talking about for years now, the ultimate goal here is Gary Gensler has been weaponized. He's a puppet on strings so that he can come in and kill these crypto startups so that his big Wall Street buddies and banking cartel buddies can come in and take over. Here's another prime example, Deutsche Bank to hold crypto for institutional clients. Well, look at that, folks. Gary says there's only hucksters, scammers, and fraudsters in this market. Does that include Deutsche Bank? Does that include BNY Mellon, Fidelity, BlackRock, JP Morgan, Goldman Sachs, right? All of them are getting involved in crypto in one way or the other. So let me give you the details here, folks. Deutsche Bank has partnered with Swiss crypto firm Taurus to provide custody services for institutional clients, cryptocurrencies, and tokenized assets. Taurus said in a statement on Thursday, the partnership means Deutsche Bank will for the number cryptocurrencies of for its clients, as well as tokenized versions of traditional financial assets, a Deutsche Bank spokesperson said, folks, see what's happening. Always watch what they do, not what they say, right? If you were only listening to the talking points of Elizabeth Warren and Gary Gensler, you may be scared, right? Let's say you're not well -researched, not well -versed. You don't listen to the Thinking Crypto podcast, right? And you're not paying attention and you're passively looking at this. You may catch some headlines from Gary Gensler and Elizabeth Warren and you're like, oh my gosh, man, it sounds like there's a lot of scams going on in this crypto market. I better not get involved. But we know, folks, watch what they do, not what they say. As Gary and Elizabeth Warren are saying that, in parallel, BlackRock, Deutsche Bank, Fidelity, all the big institutions are getting involved, right? The facts are right in front of our face. You've just got to look at the entire market holistically and pay attention to what's happening and who are making moves, who's investing, who's raising capital, and much more. So, crypto trading is not the bank's immediate plans, this spokesperson said. Deutsche Bank said it aimed to offer crypto trading in a World Economic Forum paperback in 2020. But, folks, let me give you a prediction here, which I think would be 100 % accurate, right? Just in a matter of maybe three to four years. They will all offer crypto trading. This is going to be, what is it, the 12th sector? If I'm not mistaken, I'm getting all my sectors together, right? Of the S &P. Crypto will be trading on stock markets. ETFs will be the thing. It's coming. We've seen the maturation and the growth and the adoption.
The Bitboy Crypto Podcast
Fresh update on "domino" discussed on The Bitboy Crypto Podcast
"What is up with the TJ Maxx candy? I'm going off on a rant now. Why do they have so many weird popcorns and jelly beans? Why? Why? So you get you go to TJ Maxx, you got a mission, right? You go in there for a certain product with the kids. Then you finally get done shopping. You've been there for two hours, getting just reamed, right? And then you finally make it to the checkout. And your kids see brightly colored pink popcorn, and covered gummy worms and all of this crap. And they absolutely trapped you in there for another 20 minutes. Okay, it's for the kids. It's the upsell to the kids. It's a conspiracy. And at that point, the parents dead inside emotionally, financially, mentally, physically. They mean me harm. We love TJ Maxx. We love Home Company. I'm missing here. Marshalls. We love Marshalls. That's the one. That was like my exclusive place to shop in my early 20s, late teens. I had to buy my own clothes like senior high school. Where do you think I went? I wasn't shopping at the name brand spot. All right, let's talk about Bitcoin here and the Bitcoin traders, the emotionless ones, the robots, the Lex Friedman's of traders here. Bitcoin traders take short positions as dip below 27K looms, drops below 27K with a bearish onslaught, but funding rates are still staying bullish. And this is from Santiment. The bearish activity among traders on the specific changes or exchanges here, the data chart revealed that traders were engaged in shorting on Darabit and Binance, despite the price surging to the 27K range. The funding rate and liquidation in the past 24 hours though is approximately, that's relatively in the positive there. I want to say we get in, we can like quadruple that and quintuple that and 10X that really in the really, really crazy moments. However, long positions have been experiencing a higher rate of liquidations lately, primarily due to the modest decline in Bitcoin. The liquidation chart showed that on the 20th long liquidations were over 16 million, whereas short liquidations were over 6.7. Do you do leverage trading? I don't know. Have you ever? Yes, I have. Okay. How'd that go? I mean, not well. Yeah. Same, same. I remember setting my alarm for 3 AM so I could like wake up with China. You know, I went to sleep earlier back then, like 11. So I would like sleep three, four hours, wake up with China, see if I got to get in the trade, be awake for an hour, get all this like surges of adrenaline and fear and uncertainty. And then I would like try to go back to sleep. Then I wake up, be all groggy. Then I'm like trying to trade again. Meanwhile, I had a full time job as a Twitch streamer for Magic the Gathering. And so it just wasn't conducive for what I was trying to do. I will say my favorite indicator though is the moon. Have you thrown up the moon cycles? We have. And we've had Marin on, Marin Altman a lot. She does a lot of astrology or astronomy or I don't even really know the difference to between the two. Astrology. Yeah, astronomy is like actual celestial gas giant study and gravitational pulls and orbits. Astrology is looking at two scorpions, you know, in a 69 and saying, this is going to happen. Is that a fair representation assessment? Close. Yeah, we'll take it. All right. All right, well, let's talk about the Bitcoin options here. Can $590 million in Bitcoin options expiry stop the bears, the bears on the 22nd around 22,000 options will expire with a notational value of 590 million. Furthermore, it is a smaller expiry event than in previous weeks with a huge chunk. I think it's chunk with a huge chunk expiring next Friday. So we have a big, big chunk here. Here we have just a nice little visualization here. On the 29th though, that's when we need to keep an eye out folks. So sure it's okay right now, but let's just push this. Let's kick this can down the road. Cause about, what are we looking at here? Just a week, exactly a six X we're looking at a six X here. So whatever the pain is today, it's going to be six X in seven days. So let's just maybe mark a note, mark a note in our minds here and just keep an eye out on that. Cause I think we're going to have a lot of volatility Thursday, late Thursday evening next week. And so we'll have Frankie and Tony. We'll get them on the case, see what's happening here. Let's talk about Bitcoin facing the 800 pound gorilla downside risks. This is according to Mike McGlone and here are his targets since the monetary policy environment rising interest rates after coming of age in an era of historically low interest rates. The key thing is the fed reserve is still tightening. So I think this is a process of reversion is in place here with interest rates or high risk assets typically tend to fall in price as they become less attractive to investors who now have a relatively safer assets offering enhanced returns, such as government paper to put their money into. I said consequently Bitcoin could drop by over 5% everybody. Everyone calm down, calm down, go up in the ceiling, throw cat up there. Let's, let's calm down guys. 5%. Are you worried about 5%? No, we're used to 80. Yeah. Yeah. What's 5%. I'm dead inside. I'm, I'm, there's nothing but gears in a hamster that sometimes falls off the wheel folks. I'm an emotionless robot. At some point I think we're going to turn around and trade more like gold and treasury bonds. We've had a bounce this year starting to roll back over. I think we got a couple of cycles in those before we start acting like gold or something like that. Maybe even three or four cycles in is here. All right. Ready to talk about what do we got? 16 year peak here, 15 year high, 16 high. Bitcoin and crypto face turbulence as 10 year treasury yield hits a 15 year high. Why is this bad in simple terms? Okay. You're looking for something to invest your money in 10 year bond. That just seems so boring. It's like low returns. Yeah. Now you look at that 10 year bond and it's the highest return it's been in over a decade. It's the highest return it's been in 16 years, meaning it's the most attractive investment it's ever been in 16 years. And so now there's going to be some portion of people who go from risky asset to non-risky asset. And within that portion of people, some of that portion was going to invest in Bitcoin. And now they're not going to invest in Bitcoin. They're going to invest in treasuries, but I think the effect will be largely small. What do you, what do you think here? It'll definitely be small. I think people who are in Bitcoin are not interested in waiting 10 years for some 5%, 10% return. Yeah. And I don't think so either. So I think the way this plays out is you have a hedge fund manager and they, they, they have a notational thing where risk assets will be 25%. And then they'll see, Oh, 15 years. Okay. 10 years that, all right, well, let's go from 25% to 23.5%. Okay. What do we have? $16 million to invest. Okay. Well now it's $14.9 million to invest. So I think you might see little bits of change like that, but this ain't affecting retail. Like she said, are you interested in a 10 year bond? Does that sound even remotely interesting? No, no. It sounds like a World War II answer to something. Yeah. Yeah. It sounds like, yeah. The person who has like their money in a coffee tin, cause they grew up in the, you know, the depression era. Yeah, sure. It's attractive to them. Would that person ever buy Bitcoin, let alone a meme coin? Would they ever buy a dog related meme coin? No, no, they never would. So I don't, I don't think this is going to have a, the big, big collapse that a lot of people are predicting here. All right. Let's talk about speaking of collapse. Let's talk about China here. China property market, specifically the Chinese property market collapse threatens global economy. Here you see a relatively low smog. I would assume the real estate conundrum has heightened global economic anxieties with recent surveys indicating its position as a top credit risk to the global economy. Evergrande's 2021 turmoil, though anticipated, paved the way for newer concerns. Country gardens, surprising stumble. Country garden sounds like a butter maker or ranch dressing. What would you prefer, Drew? I mean, it sounded more like a buffet down here in the South. What are your, what's Chad's thoughts on buffets? Do you guys like buffets? Kat, my fiance, she hates buffets because she doesn't like touching the handles. Oh, I kind of get that. I get it. All right. I get it. I was a germaphobe before it was cool, you know, but I also like unlimited feasting. So, you know, I, I kind of pushed those germaphobe worries. Okay. So you're a germaphobe, like when putty was a germaphobe on Seinfeld. Yeah. Like nineties open, you know, I, you know, you know, I did most things with my foot, so. Okay. Okay. Well, I see you back into, nevermind. I'm not going to go there. All right. Now the firm, according to Reuters, is facing, now we're talking about the, uh, the, the buffet company here, uh, Southern living or whatever that was called country gardens. Yeah. Country gardens. Yeah. I too was guessing. I just, something like that, uh, cracker barrel. What's it called here? Uh, country gardens. Surprisingly. All right. The firm, according to Reuters, is facing a liquidity test as a $500 million bond matures September two years from now. I saw the firm barely able to make, uh, to pay the $15 million in interest linked to the bond earlier this month. I wonder if this is a monthly payment or a quarterly payment and August the developer missed that. Okay. They say August. So this is monthly 22.5 million in coupon payments, tied to two bonds, but managed to send them to bondholders before a grace period ended. Okay. Might've been a different coupon payment there. Let's let quarterly, monthly. The fact that they're not able to start paying these bonds is going to be one of those first dominoes that we're starting to see. And then, uh, Oh my God, they're not paying me back. Well, if they're not people who all of a sudden quit paying them back and so they can't pay somebody back. And then it's just going to be a negative feedback loop. Um, but I think China, if anyone, if any country in the globe can maneuver their way by monetary controls and just population control, who has better control over their population than China, North Korea, facts. That's a good one. That's a good one. Uh, who is North Korea? Who would some say North Korea is ran by China? Okay. And so maybe it's, uh, like, yeah, well, we got to control 400,000 people compared to 1.4 billion. I don't know. North Korea's population is much higher than that. I think it's closer to 4 million, but yeah, it's, it's probably, it's like, it's the test version, right? It's like, yeah. Yeah. Trying to run a one portion of the parking lot versus the entire park parking lot after the big game, it's going to be, you know, a little bit different there. You're gonna have more control over the small spot there. All right. Let's talk about Gensler a little bit. I don't want to go too hard here.
Accelerate Your Business Growth
Why Businesses Fail
"But regardless of that, when you're in that early stage, the growth is so expensive because a little bit of growth creates a lot of cost. Right. So you hire an employee. That's a big cost before you get any revenue off of them, whether they're admin sales or whatever. So there's it's this step ladder thing. It's a very common business concept when you're in those early days. It's like we've got to find revenue. We've got to find clients. We've got to find customers. We've got to get more. We've got to get more. We've got to get more. What they do is they do that before they create clarity of purpose. They do not define the market that is best served by their expertise, their products and services. The value those products and services deliver. Right. And the manner in which they deliver them. So they go after customers that are not good customers. They lose the ability to create economies of scale. And they end up having many little businesses that serve each customer in their own unique way. And you can't grow that way. Exactly. So that's where you end up with this money problem, because I got to have so much overhead cost to service all these different competing customers. I can't create economies of scale. So you made a bad decision by not identifying your target market and focusing on it. All the time. And let's also let's just throw this in here as a kicker, because that's not where the bad news is. Think about all the time and money you wasted trying to sell to people who aren't your ideal market. Absolutely. Loads of people out there that want and need what you have. Yeah, that's that's what happens. So so they get into this adolescent stage and they're trying to be consistent. But they don't know who they're serving or why. Right. And I get pushback on this because it seems simple. Right. So I have a lot of my clients are involved with that and they deal with water. So I have a lot of water districts and irrigation districts. And these people do very simple things. Right. You give the farmer water, you take the floodwater off the land. We know our value. We know what we do. No, you don't. It's not the water. That's not the value. The value is being able to give the farmer insight as to how much water he's going to get when he says he wants it for the crop he's growing in the timeframe he's doing it. And you're going to be responsible for making sure you fulfill your commitment to him. The delivery of the water is just the way you serve that. But that's not the value. Right. The value is you can say to him, you're going to invest a boatload of money into this crop. Yeah. But you're fighting mother nature already. Right. You know, and and they go, oh, I never, never thought about it that way. We just thought we were, you know, give them water. We take it off. So clarity of purposes. I just can't stress it enough. And for those listeners out there, if you don't start with that, it's so simple. Who are we serving? Who are we? Who are we best serving? Who are the people that we should be talking to? We're the people that need us. Right. What is the value we give them and how do we give it to them? If you don't start there and it goes from there. Absolutely. I'm 100 percent with you on that. I call it chasing after bad money because it does so many negative things. You know, when you're out there, just got to have revenue, got to have revenue. You're not going to make a profit on that. And so it's not just the cost of acquiring those clients. It's the it's the opportunity costs that you. Have that because you're spending so much time trying to manage them and meet whatever you said you'll do that. You aren't able to go out and get the right kinds of clients and there's so much bad to it. You're doing a lot of catering to individual needs. Yeah. And then and then the next thing that happens in that progression of stupid decisions is. You end up with sunk costs that are dependent on small groups of customers that can't serve those costs. Right. So you can't recover it. Yeah. If you if you understand finance and some costs, I don't know. That's that's a little bit more mature finance. But. Yeah, no, I mean, I'm totally with you and you had said something about hiring. And so I want to go down this road, too, because I think this is also when we talk about making decisions. This is one of the places where I think a lot of leaders are making dangerous decisions. So. Talk to me about job descriptions, because you have a problem with using job descriptions and hiring and managing, and I'm curious about why. Yeah, that was a pretty PC way to talk about that, by the way. I think a lot about the words that I use. Yeah, understood. So. Here's the thing. There are. I identified eight elements that. Have to do with creating organizational sustainability that are addressed in the book. OK, six of those elements have a direct connection to staffing, whether it's recruitment or retention or management performance. So this is threaded through everything you do. I want to preface by saying that. Now, let me answer you directly. Why don't I like job descriptions? The reason I don't like job descriptions is because the people who write job descriptions begin by saying. Let me give you a simplistic example. I just want this office to be clean. So they write a job description and it says every day, empty the trash, vacuum the carpet, check the supplies for stock, see if there's any folders that are out and put them back in the file. So they go through this list of steps that have to be done, these tasks to keep the office clean. They give that to the person in the person says, oh, here's my task, go do it, do it, do it, do it, do it, do it. And something's not on there. And the guy comes in in the office. It looks messy and he says, the office is messy. Why didn't you do your job? And they go, it's not in my job. Yeah. So they give them tasks. I don't want people to give people tasks. I want them to give them goals or roles. So in this case, what you say is your job is to keep the office clean. What a concept. You have a brain. You can think for yourself. Now, how do you do that? This is going to sound burdensome and quality takes effort. Yeah. So I don't want to hear you out there listening to this, telling me you, I can't do this. It's too much work. That's fine. If you don't, you can commit suicide. It's your business. You can do what you want. I've done it. I know what it feels like. It ain't fun, but it's OK. Yeah. There's a company called Morningstar. It's not the rating company that rates mutual funds. It's a tomato processor in West Sac, California, Northern California. That worked for every processing plant over here. We have a bunch of it's a big tomato producer. Didn't like the way they ran their business and started his own. He's now the largest, most productive tomato processing plant in the world. Wow. Runs a flat organization. You want a job there. You walk in the front door and you say to whoever's behind the counter, I want to work here. And they'll say to you, why? What do you have to offer us? And that's how the hiring process begins. And it's done by employees. Now, how does he make this work? You have to have a hierarchy. There's I'm not arguing that, but he has a thing he developed called a clue, a C L O U, a calling letter of understanding. You have each employee talk to every other employee that they impact in the daily routine of what they do and say to them, here's my here's what I believe my obligation is to you as a coworker. Am I meeting your needs? And they document that my colleague obligations, they put it in writing, they sign it, and that's their job description. And it's created by the employees who are delivering value and serving one another, because if any of those people don't do their job. The value chain breaks, right? What a concept. Think about how strong a net that makes for an organization. When you don't have management telling people what to do, you have people saying, this is what I need to do for you to make your job good. Here's what I need you to do for me to make my job good. Suddenly you've got a self -managed group of people. Right. I mean, is that not amazing? They were written up in Harvard Business Review years ago, and the title of the column was first fire all the managers. And they're kind of like me, you know, you want to raise, you want to get somebody's attention, so you say something a little controversial. And it's brilliant, and it works, and I love it. And there is no absolute perfect way to do anything. There's no perfect job, there's no perfect company, there's no perfect solution to job descriptions. But when it comes to job descriptions, if you use that as the basis, you will have such a strong net of employee engagement and employee participation. Everyone will feel like they're valued. Think about that. You're asking people, what do you need from me? Now I get to know what you need from me, and I get to give it to you. It's a beautiful thing. That's why I don't like job descriptions. Yeah. Oh, listen, thank you for that. It makes perfect sense to me. I love what that company is doing. It reminds me of a program I do where it's internal customer service. You know, where you have to think about, okay, who am I impacting and who's impacting me? It's the same sort of thing that those folks are doing. What do I need from you? What do you need from me? How do we know? Because people don't talk about it. And then something falls down and it dominoes when it's such an easy thing to resolve. You just have to be able to have those
Real Estate Coaching Radio
A highlight from Real Estate Agents Money Making New Construction Plan (Part 2)
"Welcome to Real Estate Coaching Radio, starring award -winning real estate coaches and number one international bestselling authors, Tim and Julie Harris. This is the number one daily radio show for realtors looking for a no BS, authentic, real time coaching experience. What's really working in today's market, how to generate more leads, make more money, and have more time for what you love in your life. And now your hosts, Tim and Julie Harris. Welcome back. We are on to day two and we're picking up where we left off yesterday and we're talking about how to make money with new construction. If you didn't listen to yesterday's points, make sure you go back and listen and I know a lot of you will find, by the way, the show we did prior to yesterday is the day before will also be, I think, a very big eye opener for many of you with regards to the different types of mortgage financing that's out there. But without any further delay, Julie, let's just roll right back in and let's talk about the easiest, the most advanced ways that agents can work in new construction. That's right. So we're going to start with something a hundred percent of you can do to get your feet wet with new construction and then we'll end with the most advanced iteration of making money with new builds. So point number one, work in a new construction model home during the hours the builder doesn't build with that builder or don't build it at all. They might buy new construction, for example. Think listing leads, new construction buyer leads, et cetera. And in fact, I think you know this, we have several of our coaching clients who have worked out deals with even some of the bigger builders. I know one of our coaching clients in Texas has a deal worked out with KB Homes, which by all means is kind of a production builder. They've got tons of different neighborhoods. Well, when one of them is about to be done and the next one is just starting, they don't go around. Coverage being that there's not enough new build reps to go around to all the model homes that they have available. That's right. Or maybe the hours that they work doesn't work all the time. Maybe there's just one day a week that you can do this. Anyway, our coaching client worked out a deal where she makes a certain percent if she sells one of their new builds. So she's basically acting like a sub for the new build reps when the new build reps can't or for whatever reason don't want to be at that particular new build model. Now, it's important though to explain this why the new build reps want to do this. Because they're going to get paid regardless of who brings the buyer, so they don't care. And new build reps, especially using Julie's example KB, they're not going to be listing resells. They're only selling the product that that builder has for sale in that particular subdivision. Most of the new build reps aren't even allowed to sell across subdivisions. If there's five KB Homes developments and I'm thinking of Keith Moulton and his great new EXP group and Inkeny, Iowa and all that whole big area of Iowa where they are, they're all those large new build constructor guys. They list the mid -tier ones and they list them within their EXP group, but the upper tier ones, the really large national ones, it's exactly like what Julie and I are describing. So what Julie is saying with point number one is, again, get off your duffs, get away from your keyboard and go out and befriend the new build reps and then offer to basically be their sub working in the models. They are going to say yes, provided they respect you and they know that you'll represent them well. They might have to ask for permission, but in a lot of cases they won't. And you will, guess what, sell new construction, but you're also going to pick off some resale leads. In other words, someone's going to walk in, they're going to want to build with that builder and they're going to have a house to sell, you're going to get that lead. And why is it that the new build reps aren't licensed? It's very obvious. The new builder pays them a salary, pays them a commission, doesn't want their loyalties divided, but also doesn't want that new build rep to then start, well, this model is not good for you at XYZ homes, I'm going to take you across the street and sell you one from ABC homes. They want that particular staff member only selling that particular product. That's where you can come in. Point number two. Well, that's right. And let me just point out why this is number one. Remember, we're going from easiest to most advanced. Notice that here you are not asking for a listing agreement. You are not, I mean, you can write the buyer side, which they're already prepared to pay. All you really have to do is learn a little bit about their product and how a builder contract works, which is generally more simple than your normal contract. Actually even simpler than that, Julie, because what you just said is going to intimidate about 90 % of them if you think about what you just said, right? Even simpler. Just be the meter and greeter and the police fill out your information or, you know, that's it. And then turn over the lead. Don't even do anything other than meet them and greet them because guess what? You met that buyer when they walked into that model, you're going to get the commission. Let them walk through the model. Let them walk through several models, maybe some specs. As long as they've registered, if those people decide to build with that particular builder, you will get paid whatever the co -op commission is. So open your eyes to how easy this can be for all of you. That's something a very low skilled new agent can easily pull off. I think of new construction model homes as kind of like the best buyer mousetrap ever. If buyers are searching, and we know for a fact with lower inventory, buyers are going to these new builds on their own, they're finding the inventory, you might as well be the one between them and the house, right? I mean, we're going to belabor this point too long, but this is something else. It's very rare that you see a new builder up that has an assistant. So if somebody walks in, and they want to see a spec that's maybe 10 minutes away in the subdivision, that means they lock the door to that model home, which means any subsequent buyers that pull up, which may have been equally as motivated, are going to get, you know, they're going to leave and they're going to go next door, they're going to maybe even leave the whole area. You guys get the point. So what the new build rep wants to do is sell more new construction. What you can do is cover them when they're not there. Maybe just act as their assistant on the weekends, and you will pick up sales that way. We've had lots of coaching clients do this over the years. I will say a funny story, I remember this. We had a coaching client that would go to this new build model area where it was a, I think it was a gal actually, and she knew this builder rep only worked on Saturdays. She knew that, guess what, most of the buyers were coming out on Sundays, and they never were there Monday through Friday. So what did she do? She went out and made camp, basically. Go where the buyers are. And then she just waited for the buyers to pull up, and then she was selling the new build rep's models, and she was obviously pulling off other business from that. I mean, talk about a great, a very ambitious, very proactive lead generator. Which, by the way, didn't cost you a referral fee, or a impression fee, or any other kind of paying for your leads fee. And you didn't have to make a TikTok video to get the sale. Not even that. Okay. Imagine if you will. All right, point number two, how do you make money with new construction? Create a relationship with those new build reps, and or the sales managers at different projects, where they refer the resale listings to you. Now, if they are licensed, and remember, they aren't always. It's very, very rare, only if they're really, really small builders, that you'll find a new build rep that is licensed. But we just belabored this point exhaustively, I think. We rolled that into point number one. Anyway, if they happen to be licensed, you can pay them a referral fee. If not, you can do gift cards and other things. But the flip side to it is, is a lot of times, and you and I did this when we sold real estate, we've coached our other agents to do this as well. Let's say you do go to one of those small or mid -level builders, and there's, it's frankly, usually the person that's the build rep is the wife or the husband of the actual builder, And so what you can do, as opposed to having any sort of financial exchange, what they're going to want to do is they're going to want to thank you for selling that particular house by giving you the listing on their next spec. And that's something you can do mostly in the really high end. So if you approach a builder that's specing on a really high end build, and they're still out there, plenty of them, and you're going to say, well, I have a potential buyer or buyers for this property. In the past, when I've worked with other high end builders, the arrangement we've had is I help them sell this particular house to one of my buyers. And then when they build another spec that they'll list that house with me. So then obviously I can help them sell that property as well. And you'll be surprised how that domino of buyer to listing, buyer to listing, buyer to listing, that can last you your entire real estate career. Yeah. It's a beautiful relationship and you can have more than one with more than, you know, different builders. Right? So that kind of leads us into that third point, list the spec homes. Now we've been throwing around that term. What is a spec home? A spec home spec stands for speculation and they come in two flavors. One is the builder is building a home that does not have a contract on it yet speculating that they will. That's why it's called a spec home. And the other way spec home happens is if somebody was in contract to build with that builder, but for some reason, either they backed out, they lost their financing, they lost their will to sell. Somehow the deal came apart and it becomes an inventory home. Sometimes they're called inventory homes instead of spec homes. We're going to share with you guys now, like normal price range stuffs in normal price range, let's say even nowadays, what the hell is normal pricing, right? A million or less. Generally speaking, it's very easy to get out of a new build contracts because the builder knows they've got a hundred buyers that one particular house, but the more expensive stuff when you starting into multimillion dollar spec homes, what happens a lot of times is the builder will ask for the buyer to, in essence, have 20 % hard money into the house. In other words, let's say the buyer is buying a $5 million house and the builder is going to ask for, and usually two deposits, a million dollars. And if the bill, if the buyer doesn't close that a million dollars stays with the builder, you see? So these are just different little things you're going to learn as you climb the ladder. We've had coaching clients, we coach agents to sell new construction, all different price ranges. So you need everywhere from, you know, big old ranches and land, raw land, trees, forests, all the way obviously to ultra luxury homes. So all these skills are applicable to all markets and all price ranges, which leads me to a friendly reminder. The notes for today's podcast are down in the section below. So if you scroll down under the video, if you're watching on YouTube or if you're over on iTunes or Stitcher or Spotify, just go down there and open up the show description. You'll see all the notes as Julie and I are presenting them for the most part. And you're also going to see a link to join Premier Coaching. Now Premier Coaching is, from what we understand, the nation's number one selling coaching program for real estate professionals. And the best part is, I think all of you will agree, is you can join Premier Coaching right now for free. It's a next natural step for all of you in your real estate careers. We know you love this podcast. It's the number one listen to daily podcast for real estate professionals in the United States. You won't believe what you get as part of being a coaching client. This is training. At the best we can do in the 20 or 30 minutes we have you every day, it's training. Coaching is what you get when you join Premier Coaching. So click the link below or you can go to premiercoaching .com or of course you can text the word Premier to 47372. But remember when texting message and data rates may apply. That is going to be homework from this podcast and every podcast after that. Next point Julie. Point number four, list every listing the builder has representing them on the whole development or the whole building if it's a condo building for example. This may include both lots to sell to other builders and or the actual homes or condos being built. That's where you you have the relationship with the builder. So I'm thinking about people like Lance and Karen Kenmore out in Washington state who have been coaching clients for a long time. They have multiple builders, different developments where they represent the entire thing. So they have signs on lots. They can sell those to other builders. They have signs on lots that they're representing the builder. It's not built yet. They have half built homes. They have spec homes. They have everything. One of their builders is going to do a town home project next so they can do different products as well. So another little idea of spinning off Julie's point number four is if you for example have the opportunity to list a parcel of land, a big swath of land that might be great for a developer. There are people that do the developing. There are people that go and essentially have if necessary the zoning work done. They'll put in the sewers, the electric. They'll even subdivide all the lots and all the rest of it and then they sell those off to builders. A lot of times some of these land developers, all they'll do is identify the lands and they'll sell some of the land to somebody to develop the land all on up. So what you're going to discover is from a big old farm field to new construction and a big huge subdivision, there are different levels of businesses that are involved. Now how do you stay involved if you're the one that happens to cross the big old soybean field as was the case for Julie and I sold real estate. All right, so you find the big parcel. Let's call it, you know, 25, 50, 100 acres, whatever it is. You then will list the property and then you will then find the people in that particular market that do the development and then the developer, if the lots are then sold as a whole off to a new builder, which is usually how it actually works, try to stay attached to the transaction every single deal, every time the property changes hands. Make it so that you're part of the deal every step of the way. I'll give you an example. There's a friend of Julie and I's in Houston, his name is Vinod, he owns a place called Urban Living and in its day it was a massive brokerage and what he would do is he goes out and identifies, well he would find a parcel of land in Houston, the zoning laws and this is, you guys are going to think I'm making it up but it's true, in Houston you can actually have a commercial building right by a residential building and so it's not uncommon when you're driving around certain areas of Houston where you see like how the hell is there a church's chicken right next to a, for example, a literal home next to a condo building, next to a car wash.
Tech Path Crypto
A highlight from 1247. FTX Bankruptcy Hearing Could Determine Fate of Crypto Lender and Market
"Let's talk about something today I think you guys are gonna like, and that is, is there a crash incoming? And if there is, what could be the catalyst that causes that? A lot of people are looking at some of the data coming in from FTX, but there's a few other things that could also be playing into the markets and the prep that maybe the markets are getting ready for. So today we'll break down all that good stuff for you guys today. My name is Paul Bearer. Welcome back in The Tech Path. A couple of things before we get started, I want to thank our sponsor, and that is iTrust Capital. If you're looking at long -term holding and you want to go with a strategy to go into an IRA, one way you can do that is through iTrust Capital with their crypto IRA. A couple of things they do over there is you can actually invest in all sorts of digital assets, but you can also jump into things like gold and silver. So it's very easy to do, and it's free in terms of your monthly. All you have to do is sign up so you can start your project there, get into it, maybe transfer an IRA, or if you're brand new and you want to start one over there. And all you guys are paying for is the trades that you make within your own account. So it's a great way to get started. Make sure and use the link down below. It's going to help you get a $100 funding reward, and it also helps the channel out, so thanks for that. All right, let's get into a couple of topics today, and a few of them I want to jump onto a couple of tweets, and then we'll kind of flow into some news. But I've got a clip here of some things at the end that you guys don't want to miss. Kobe Easy comes in, global liquidity down, massive $1 trillion over the last 10 weeks. That's a pretty big deal for that much liquidity. It's interesting, too, because about four to five months ago, we had a series of interviews that we had with Lynn Alden. If you guys have not seen some of our Lynn Alden videos, just go back, search our channel. And she was kind of forecasting out what might happen, and this appears to be some of the things that she has been anticipating around what liquidity might look like. But we're now back to down to pre -pandemic liquidity levels. Now you have to think about that. The amount of liquidity that flowed into the space during the pandemic versus what we have right now is pretty significant. If you look at the chart right here, we'll show you some other stuff, but this is the dip right here. If you kind of just draw that line, this is, of course, talking about 19, 20, and 21 pre -pandemic. This, of course, is all of the injection into the economy and then essentially almost a full recourse back down. Now, granted, this still has a lot of room for more liquidity loss on the global scale, and that will have effect on digital assets, going to have effect on securities and other things, too. So be on the lookout for this one. I think this is one that we need to continue to chart and watch going forward, because this could be an indicator where Bitcoin does start to see, because remember, when liquidity starts to hedge downward, usually, and we'll show a little bit about the Dixie on another show coming up, but usually the Dixie will be on the rise, which it is currently. And if you look at the Dixie over the last, say, 30, well, let's go after the last 36 months, but look at the last year on the Dixie, the dollar index, and you can start to see how this gets affected around just traditional markets versus what's happening in the digital asset market. So very interesting something to watch for sure. Some key events that we'll be hitting this week is the Apple iPhone release. I'm curious if this is going to have a big splash because of the pressure that we're seeing on inflation, which means that will people have the money to be able to go out and purchase a new iPhone? And I think that's going to be a big indicator when we start to see the sales coming in for the holidays and whether or not Apple is doing well. So be on the caution and be on the lookout for that. Additionally, we'll see the CPI inflation data most likely going to be down. That comes in on Wednesday. PPI also comes in this week on Thursday. Retail sales data on Thursday will be softer anticipated. Consumer sentiment data on Friday. Consumer sentiment is right now looking to see maybe one of its biggest dips all year. This is a problem because it will have, I believe, some impact on how the Fed responds with whether or not they're going to be able to hold a flat position in terms of interest rates and the Fed fund rate coming up in November. So we'll see how that goes out. Also, the New York Fed manufacturing data comes in on Friday. So this is a big one. So it's the huge last week before the September Fed meeting. And when you look at what's going to happen over the next, say, 30 to 60 days, I think a lot is really dependent on these numbers this week and how that might play out for you guys in your markets. If you just look at the charts, there's a couple of things. Everybody's saying, why is crypto down so much today? And you can kind of see right here, listen, everything is in the red right now. Quantified crypto shows all top 50 projects with negative performance on the day as a total cryptocurrency. Market cap lost $10 billion in today's daily candle. So that's a big hit. 2 % in the last 24 hours. Fairly significant. Many people are looking at this potential of the FTX dump on the horizon. There's things that, yes, of course, FTX is still a burr in the saddle of the crypto markets. But I don't think it is as big of a problem as maybe a lot of people are indicating. I'll show you some data on this. But if FTX gets the approval for the sell -off, that's the big if, the details will settle on the size and the frequency of liquidations in order to minimize possible negative effects on the market. Now, they hold a lot of assets. We do know that. And remember, the market has already had a tremendous push down. So we're not seeing a $2 .5 trillion market here. We're barely seeing a trillion dollar market. So these kinds of things could implement very easily and cause a little problem within the market. But I don't know, the question mark will be how much can go into the markets and whether or not that's going to have an impact on Bitcoin. I'd love to get you guys' feedback. Do you feel like FTX is going to have any kind of scenario? Are we going to continue to see just a slight downward trend as we've been tracking over the last 10 to 14 days? Or do you think we'll start to see a real hit on the markets? Love to get your comments. Drop those down below. A couple of things to be aware of, and I think everybody's kind of fudding a little bit, is on the amount of Solana. If you look at respective amounts going from $29 million in XRP to $685 million in Solana, there's the line list of some of the tokens that could be at risk to a certain extent. But in reality, these aren't too bad in terms of if they get the go to actually release some of these tokens to be able to compensate the creditors that are in line. So a couple of tweets here. I'm going to kind of just go up here to this one right here. Will they sell off this week, cause a Solana soul crash? This was the tweet that hit on it. Mainly what they're talking about is the potential of this $200 million a week of assets that would be the limit that could kind of roll into this. And I've got a couple of charts here from Woo Blockchain. Let me kind of go up here. So this is as of August 31st. And the total of $3 .4 billion in crypto assets, including $1 .16 billion in Sol, $560 million in Bitcoin. And then you can kind of see the line list there. But these are the asset holdings overall, Solana taking the largest, and then Bitcoin coming in right behind it. And of course, everybody's also looked at Solana and the fact that they've been able to hold on. Remember that Solana was one of the blockchains that took the hardest hit from the FTX crash that happened last December. We saw Solana go down to basically about $8 .50 and then has corrected since then. And that's been an opportunity for some people because many people went in on Solana at its low around $8 to $9, and they're sitting obviously in a great position right now. Filing shows also that there's 438 investment portfolios with approximately $4 .5 billion in invested assets. These are the companies that are all, of course, being hurt. You can kind of see the token layer right there, limited partnerships involved, the equity investments involved. Obviously, we know Genesis and their connection, Yuga Labs playing a role in this, among many others. So this is not just crypto related. We'll potentially see a little bit of a market wave being hit here as we see more and more people taking losses on their books. As of August 24th, about 36 ,000 customer claims have been filed for a total of $16 billion. These are all everything from creditors, etc. You see the $4 .1 billion in litigation for Genesis. Even Celsius is sitting in there right now. And then the IRS, of course, has the largest position right now at $43 .5 billion for claims against this and what's happening with FTX. So all is not well yet. And I think this is, again, one of those things that could be one of those last little pushes into the markets as we continue to see the macro pressure pull the markets down. I just don't think it will be a sharp loss now and decrease in the market overall, especially on digital assets. Now, there could be a handful of tokens. Yes, Solana could take a fairly significant drop down to around $15. It's trading at around $17 right now. So that would be the one to watch for sure. Here's Lark Davis kind of hitting on it. He points out a couple of good notes here. First, coins will not be on the market to be sold, mostly will go over counter. And Solana is mostly locked up, and most of their tokens are locked up for around four years. So that in itself would slow this down. When this is sold over the counter, it'll be someone buying FTX's vesting contract. So that is a factor that plays in it. FTT, I don't think anybody's going to be playing in too worried about that one. Because remember, this was what I feel like set everything in motion was when CZ actually sold and started to move a large amount of FTT, which started the domino effect to occur and caused obviously, I won't say caused, but it definitely had a big implement or potential impact on what happened over at FTX. Bitcoin and ETH, they've got a good amount, but not billions. I still don't think we're going to see any real impact on both Bitcoin and Ethereum. I think we're going to see more market and macro pressure on Bitcoin and Ethereum. And I think we're seeing it right now. Obviously, we've seen a little bit of a downtrend on both of those. Aptos, this is the only one that maybe you have to worry about because of its size. And then everything else, no amounts big enough to concern. So I think this is, again, still just a bit of FUD. But the real question is, how and what will be pushing this down? And you have to remember, and this is just some Solana stuff, I think people thinking that there's a big deal with Solana. Two years of aggressive selling, I would agree. And the number of black swaths we've seen in this market, I'm still very impressed. And I just had a big, one of our executive coaching sessions this weekend. And that was one of the things that many of the people brought. These are business owners, millionaires in many cases, very successful. And even they brought to the point is that Bitcoin doesn't seem to have as much of an impact on it as it has in the past years as they've analyzed. And I would agree, I think the resiliency now is quite a bit different. Here was TOLI coming in. If everyone else is throwing shade, then we're just going to build and code in the shade. So of course, that's the current leader of Solana and Solana has been building and doing a lot in the way of doing partnerships. Obviously, we saw the deal with Visa and many other things happening out there in the market, for sure. Leaders are now monitoring risk in crypto asset ecosystem. The fact that it's even being discussed at a G20, you can take it two ways. You can take it as they're talking about it. That means at least it's getting into a legitimate layer or they're talking about it and it means they might be doing something negative. I think that we're in the more legitimacy layer from the G20. There's a few things there that we can hit on, but I want to also give you guys a heads up. We'll be doing a video later about this because there is a lot happening within the G20 that I think have bigger impact on the planet, especially around investing, what some of the countries will be doing, because there's a lot of positioning around stablecoins right now. And I think even here in the U .S., we're going to see that as well. But the FASB thing was endorsed dramatically. So we endorsed the financial stability board, high level recommendations for the new regulation and supervision of crypto asset activity. So that's a big scenario we talked about last week. Also following the declaration, the finance ministers at the central bank governors of the G20 nations committed to discussing and taking forward a roadmap during the next meeting in October of 2023. That's just around the corner. So they are looking at other potential impacts of maybe how digital assets play a role in a lot of these G20 nations. They also demanded that responsibility bodies ensure implementation method is consistent across global to avoid regulatory arbitrage. More things that I think will also play into how these countries are going to be dealing with digital assets. We've already seen MICA move pretty heavily in this way and position I think the EU into a very strong position of being able to do some interesting things in blockchain over the next few years. One other thing here, crypto analysts is predicting a fake pump before Bitcoin before we see a big dump. Again, we still have a lot of people pushing into the point that we could see a $15K Bitcoin or under. That is the real question mark because right now Bitcoin has been holding fairly decently. A couple of points they hit on right here is Bitcoin could be ready for a short squeeze. And this is in reference to around the $27 ,000 price zone in the following days. This is going to be a very critical time right now. Remember, we've got a lot of things hitting this week that will show the course of the United States when it comes to not only inflation but a potential recovery. And I think that's the more important thing. The other thing that they focus on was Bitcoin market makers are getting ready for a fake pump around $26 ,900 before further dump into liquidate long positions around $24 ,000 price zone. That's one that I think will be interesting because this right here is the potential forecast of where we could see Bitcoin going. If you look at our sentiment data on the CPI, which is our own crypto power index, I can't really downtrend a pressure on both amplification sentiment and top line sentiment on both Bitcoin and Ethereum. So does it mean that we would see a sub $20K? I don't know yet. But what I am seeing is a very consistent downtrend on overall sentiment in the market. And I think when you add in the other macro pressures, those are the things you have to watch for. I don't think it's as much as the FTX issue as it is the macro pressure. Fun fact, less than 5 % of global population now is invested in crypto. So that just shows you again how early you are. Maybe you're watching this for the first time and you're just now getting into crypto or maybe you're just now getting into Bitcoin and Ethereum, you're starting to do your research. What I would ask for you guys to do is just subscribe to the channel. It is one of the easiest ways that you're going to get additional content. You can drop that, you know, hit that little bell and it will give you notifications when we do things like that our live streams. Last up here that I think is interesting is a clip that I want to play for you. And this comes from David Marcus and David Marcus runs a company called Lightspeed, Lightspark, excuse me, not Lightspeed Ventures, but Lightspark. And Lightspark is trying to do some unique things in Lightning. But I want to play this clip for you. He starts off about halfway through. This is coming from Squawkbox. Let's listen in. We've watched the valuation of Bitcoin sort of sit around $25 ,000, $26 ,000. We've all been questioning, so where does this go? And does Bitcoin ever really become a currency, which is what you talk about it becoming? Do you think the value of Bitcoin needs to or can move up if it's actually a currency? Meaning I've always made the argument the currency problem is if Bitcoin is, if you think Bitcoin is going $30 ,000 or $50 ,000 or $60 ,000, there's no way I'm going to spend it on, you know, a pizza or on anything, frankly. If I think it's going to go down, by the way, I might spend it immediately. So our view is actually that Bitcoin is not the currency that people will use to buy things. But a fragment of a Bitcoin on top of Lightning is like a small packet, data packet on the Internet only for value. And so you can exchange at the edges of the network and send dollars to someone that will receive Japanese yen on the other side or send dollars to someone who will receive euros on the other side. All right. So a couple of things that David hit on there that I think are interesting. One is he did admit that Bitcoin would not be used for as a currency. And this is something that I've argued, you know, over time is that it is a challenge because of what's happening with Lightning right now. Now, this is not necessarily a bad thing. It's just a way that Bitcoin will be utilized. And, you know, to what Squawk Box's interviewer there, Sorkis, was trying to get to is that why would a currency ever be a speculated asset? This is where I think the the draw is if Bitcoin is still a speculated asset and it reacts like one. It has volatility. It has, you know, the issues with everything that we've talked about in today's show in terms of liquidity. And it also has pressures from macro. That's just like any other speculated asset, whether you're investing in securities, real estate, anything that you would speculate on. So I think that Marcus, what he's trying to do with LightSpark is they're trying to get to that point where they can get a settlement layer into it. And that's where I think the real question mark is. So whether you haven't, maybe this is the first time you've heard of the Lightning Network. I would suggest that you guys go out, do a little research, really understand it and try to get your head around what its purpose is and how it could be used in the future. At the same time, be looking at the Ethereum network. Also take a look at Solana. You want to look at these payment architectures that are being built on blockchain because these are the ones that are going to most likely be the ones that go forward. So love to get your feedback on whether or not you guys think FTX, these potentials here are even going to have a remote chance of causing any movement down, or do you feel like it's going to be more of the macro? Drop some comments down below. Of course, if you're not in our diamond circle, make sure and get in right now. It's one of the best places you get additional alpha from us. We do a podcast over there. I drop additional analysis in there only to the diamond circle. And of course, the only way you get in is join that link right down below. It's very easy. If you guys want to catch me, catch me out there on X at Paul Baron. We'll catch you next time right here on Tech Path.
Markets Daily Crypto Roundup
A highlight from Featured Story | Crypto Lenders Caused Crypto Contagion Last Year. How Is the Industry Rebuilding?
"This episode of Markets Daily is sponsored by Kraken. It's Sunday, September 10th, 2023, and this is Markets Daily from CoinDesk. Hi, I'm Michelle Musso here with your featured story. On today's show, we're taking a dive in how crypto lending contributed to last year's collapse and what could be done to fix it. And just a reminder, CoinDesk is a news source and does not provide investment advice. Today's piece comes from Mauricio Di Bartolomeo, the co -founder of Ledin, a digital currency lending company. We'll be using Wondercraft AI to read the story. The piece is titled, Crypto Lenders Caused Crypto Contagion Last Year. How is the industry rebuilding? Loans are as old as money. Throughout history, whether seeds or gold, every form of currency has had its lending market. Now Bitcoin, with its decentralized and transparent nature, has staked its own claim in the financial landscape. And just like the currencies that came before it for Bitcoin to truly thrive, it also needs a robust lending market. However, thus far, most attempts to create a Bitcoin credit market have failed spectacularly, with disastrous repercussions. The demand for Bitcoin and digital asset lending services surged during the 2020 run -up, with tens of billions of client assets flowing towards both centralized and decentralized lending platforms. Fueled in part by lax macroeconomic monetary policies and the crypto sector's explosive growth, this environment allowed bad actors to operate recklessly, misleading consumers without facing significant checks and balances. This lack of oversight ultimately led to the collapse of the digital asset lending industry beginning in 2022, including the cascading bankruptcies of lenders including BlockFi, Celsius, and a unit of Genesis. Although accusations of fraud in some of these cases will be a matter for the courts to decide, the sudden domino -like collapse of dozens of digital asset lending firms highlighted an underlying flaw. Their operating structures were inherently unsustainable. These structures lacked a crucial ring -fencing of lending risk. And lenders did not provide the transparency needed for clients to understand their credit underwriting process, or the concentration risks in their lending activities. This outdated structure, coupled with insufficient risk management, was akin to dry wood, eagerly awaiting a spark. And Terraluna, 3 Arrows Capital, and FTX were an entire box of matches. Meet the all -new Kraken Pro, the powerful, customizable, beautiful way to trade crypto. It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools, all in a redesigned, modular trading interface. So head to pro .kraken .com and trade like a pro. Not investment advice? Some crypto products and markets are unregulated. The unpredictable nature of the crypto assets market can lead to loss of funds and profits, maybe subject to capital gains tax.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Featured Story | Crypto Lenders Caused Crypto Contagion Last Year. How Is the Industry Rebuilding?
"This episode of Markets Daily is sponsored by Kraken. It's Sunday, September 10th, 2023, and this is Markets Daily from CoinDesk. Hi, I'm Michelle Musso here with your featured story. On today's show, we're taking a dive in how crypto lending contributed to last year's collapse and what could be done to fix it. And just a reminder, CoinDesk is a news source and does not provide investment advice. Today's piece comes from Mauricio Di Bartolomeo, the co -founder of Ledin, a digital currency lending company. We'll be using Wondercraft AI to read the story. The piece is titled, Crypto Lenders Caused Crypto Contagion Last Year. How is the industry rebuilding? Loans are as old as money. Throughout history, whether seeds or gold, every form of currency has had its lending market. Now Bitcoin, with its decentralized and transparent nature, has staked its own claim in the financial landscape. And just like the currencies that came before it for Bitcoin to truly thrive, it also needs a robust lending market. However, thus far, most attempts to create a Bitcoin credit market have failed spectacularly, with disastrous repercussions. The demand for Bitcoin and digital asset lending services surged during the 2020 run -up, with tens of billions of client assets flowing towards both centralized and decentralized lending platforms. Fueled in part by lax macroeconomic monetary policies and the crypto sector's explosive growth, this environment allowed bad actors to operate recklessly, misleading consumers without facing significant checks and balances. This lack of oversight ultimately led to the collapse of the digital asset lending industry beginning in 2022, including the cascading bankruptcies of lenders including BlockFi, Celsius, and a unit of Genesis. Although accusations of fraud in some of these cases will be a matter for the courts to decide, the sudden domino -like collapse of dozens of digital asset lending firms highlighted an underlying flaw. Their operating structures were inherently unsustainable. These structures lacked a crucial ring -fencing of lending risk. And lenders did not provide the transparency needed for clients to understand their credit underwriting process, or the concentration risks in their lending activities. This outdated structure, coupled with insufficient risk management, was akin to dry wood, eagerly awaiting a spark. And Terraluna, 3 Arrows Capital, and FTX were an entire box of matches. Meet the all -new Kraken Pro, the powerful, customizable, beautiful way to trade crypto. It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools, all in a redesigned, modular trading interface. So head to pro .kraken .com and trade like a pro. Not investment advice? Some crypto products and markets are unregulated. The unpredictable nature of the crypto assets market can lead to loss of funds and profits, maybe subject to capital gains tax.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1395: BlackRock Bitcoin ETF Will Send BTC to $1,500,000
"In today's show, we're going to be discussing Bitcoin liquidating $23 million in shorts as Bitcoin price tags a new September high. And check this out, Michael Saylor shares three catalysts which will take the Bitcoin price to $5 million per coin. Also quoting Ricardo Stellinas, the third richest man in Mexico, Christine Lagarde is a thief, Jerome Powell is a scammer, and they're pulling off the perfect fraud preach. And quoting Max of Central in South America, also breaking news just in, Turkish crypto exchange CEO sentenced over 11 ,000 years in prison for allegedly stealing $2 billion in customer funds. We'll also be discussing the institutions may be forced to fight over just 5 % of the Bitcoin supply. Can you say incoming? Bitcoin supply shock. We'll also be discussing when will we see a new Bitcoin all -time high? Will it be this year? Will it be 2024, 2025? I'll be breaking this down for you. We'll also be discussing now 10 years later, since the first Bitcoin spot ETF application and still no Bitcoin ETF, when is it likely to finally be approved? We'll also be discussing the largest asset manager in the world, BlackRock and their Bitcoin spot ETF can literally unlock $30 trillion into the crypto market, send in the Bitcoin price parabolic to $1 .5 million per coin. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again, that's crypto news alerts .net. So welcome everyone just joining us in the live chat. We're finally back in the green for the Bitcoin market, which is a good sign. Let's kick off today's show with our market watch. But first and foremost, welcome everyone. It's September 8th, 2023. I'm your host JV, and this is pod episode number 1395. As you can see here, we got Bitcoin in the green, trading at roughly 25 ,900 while Ether and BNB are still in the red. And checking out coinmarketcap .com, we're currently sitting just above that trillion dollar milestone, with about 28 billion in volume in the past 24 hours. Bitcoin dominance has been pretty stagnant, currently at 48 .3%, with the Ether dominance at 18 .8%. And checking out the top 100 crypto gainers of the past 24 hours, we have Kronos leading the pack up 3%, trading at 5 .2 cents, followed by XDC up 3%, trading at 5 .6 cents, followed by Stellar Lumens up roughly 2 .5%, trading just above 12 .5 cents. And checking out the top 100 crypto gainers for the past week, I'd say the majority are back in the red, but we do have some pumpers, including XRD now up 8 .1%, following by CRO up 3 .3%. And checking out the crypto greed and fear index, we're currently rated at 46 in fear, yesterday at 41, last week a 40, and last month a 50, which is dead in the middle, neutral. So there you have it. How many of you have been taking advantage of this recent dip? Please do let me know in the comments right down below. And now let's dive into today's Bitcoin technical analysis. If you're just joining us, make sure to say hello in that live chat, and let us know where you're tuning in from. But yeah, let's check out these charts, Bitcoin extended volatility into the September 8th Wall Street Open as a classic short squeeze sparked new September highs, which you can see here in the Bitcoin, one hour candle chart, data from Cointelegraph and TradingView showed Bitcoin price movements liquidated in shorts and longs alike. Bitcoin has seen upside momentum the day prior, culminating in a trip above 26 .4 after the daily close, then a subsequent comedown nonetheless took Bitcoin full circle, and Bitcoin slash USD pair was back under the 26 ,000 mark at this time. Now, some analysts breaking down some of the charts here, such as Jelle says, whoops, let's take out the lows again, then. Hmm. Now the result was punishment for the late traders chasing the market up and down. According to data from CoinGlass, short liquidations total $23 .5 million for yesterday, September 11th. And thus far today, we don't know how long the tally is precisely, but probably even higher. Shorts have got hunted as expected. It's a popular trader scoop, quitting him here. Bitcoin Binance and Bybit open interest shorts got hunted and as expected. Note the over leverage added here, or I'm sorry, open interest added here with a small price reaction and decrease in the per bid delta. This implies that more shorts scaling into the price on the second dive higher. Now, fellow trader Dan Crypto Trades highlighted the significance of reclaiming lost ground from August, quitting him here. Bitcoin was finally able to break above the September monthly open after testing it numerous times. It is now retesting it. The question is, will it provide as much support as it did resistance? It's up to the bulls to try to maintain a green September. Meanwhile, CoinGlass data confirms September tends to produce a Bitcoin price downside of close to 10%, with market expectations skewed approximately for 2023. And quoting another trader, Crypto Tony, he says, nice rally off of 25 .6 range low, but no following through up to the range highs. So again, we're stuck mid range. No entry for me on Bitcoin unless we clear 26 ,600 as outlined here in this chart. Now quoting another analyst, Michal Vendet Pop, he says, technically speaking, we can solely focus on the price action in 2019, but that doesn't grant a clear case. The case in 2015, we can correlate the current market with that cycle, he said in his commentary. And he continued, in that regard, this is the final correction. Let me know if you agree or disagree with the analyst as he outlines here in this chart. He says there is a level in which Bitcoin must hold in order to avoid the significant crash. Bitcoin currently holding onto a significant level of support. It's around the 25 ,500 barrier, which has held up thus far. Do you think we're likely to drop sub 20 ,000? Let me know your honest thoughts in the comments right down below. And now let's break down the latest from Michael Saylor. He recently shared three catalysts, which will take the Bitcoin price to $5 million per coin. Catalyst number one, a spot ETF approval, which he says is inevitable. Number two, banks custody and against Bitcoin as collateral, which is coming soon. And number three, fair value accounting rules from the FASB, which will be approved this week. So there you have it. Very bullish sentiment coming from Mr. Saylor and massive shout out to Ricardo Salinas, the third richest man in Mexico. In this interview, here's what he had to share. Christine Lagarde is a thief and Jerome Powell is a scammer. They're pulling off the perfect fraud. So much respect and shout out to Ricardo Salinas for preaching the facts. And quoting Max Keiser, the high priest of Bitcoin, he says that President Bokele is the Warren Buffett and Elon Musk of Central and South America. And he's turning a $26 billion out of favor of phishing and Pupusa hub with some untapped volcano Bitcoin mining potential into a $300 billion mega success story that's transforming the region. So let's freaking go. Massive shout out to Najib Bokele. And now let's break down our next story of the day and discuss this $2 billion crypto scam. Could you imagine being sentenced to over 11 ,000 years in prison? Do they not understand the average life expectancy of a human being? I mean, who does that? But anyways, this is quite fascinating to say the least. Here's the guy right here, just in Turkish crypto exchange CEO sentenced to 11 ,196 years in prison for allegedly stealing $2 billion in customer funds. This story should have SPF ishing his pants considering SPF with FTX was a $30 billion fraud for Christ's sake. Facts. So yeah, let's break this one down. The former CEO of Turkish crypto exchange Thodex. And let me know if anyone has ever heard of the exchange. I never heard of it until today. The guy's name is Farouk Faith Ozer. He was sentenced to 11 ,196 years in prison by a Turkish court on charges of establishing, managing and being a member of an organization where qualified fraud and laundering of property values. Are you listening to SPF? Now, the ninth high criminal court sentenced him along with his two siblings to the same jail sentence of 11 ,196 years. Good Lord. 10 months and 15 days in prison along with a $5 million fine reported Turkish state run news agency. The Turkish crypto exchange was one of the largest digital asset trading platforms in the country before abruptly imploding in 2021. The exchange halted services on the platform without prior notice. And the founder fled the country along with the user's assets, totaling over $2 billion in crypto. And at the time, he refuted all claims of the possible exit scam. The fugitive founder was finally detained in Albania in August of last year, where he has been serving a jail sentence before he was extradited to Turkey in April of this year on charges of fraud and money laundering. The same charges SPF is against. Now, he was already in jail for failure to submit tax documents since July, while the most recent conviction comes for defrauding customers. The founder of the crypto exchange claimed in court that he and his family are facing injustice. He said that Thodex was a crypto company that went bankrupt and had no criminal intentions. A Google translated version of his court statement read, the following, I am smart enough to manage all institutions in the world. This is evident from the company I founded at the age of 22. If I were to establish a criminal organization, I would not act so amateurishly. The question is that, is it clear that the suspects in the file have been victims for more than two years? So he's allegedly claiming to be a victim. The long drawn out case against the Thodex crypto exchange had 21 defendants, five of whom attended the court hearing in person. The court acquitted 16 defendants of qualified fraud due to the lack of evidence and ordered the release of four defendants. The other defendants in the case received varying degrees of sentences based on their involvement in the crypto fraud. So there you have it. I mean, quite interesting to hear anyone being sentenced for over 11 ,000 years, and especially considering his siblings are also involved. Do you think they're just trying to make an example out of him? I don't know what to really think, honestly, because I don't know the guy. I don't know the exchange. I don't know if he's really innocent. I don't know if it's an attack. But what are your thoughts, fam? Let me know. And at the end of the show, I'll be reading everyone's comments out loud. But it does sadden me. I must say, hearing anyone get sentenced to 11 ,000 years in prison doesn't seem right. If you could only live approximately, what, 80 years, it just is a bunch of nonsense and sounds like they're trying to make an example out of someone. I say, if you want to make an example out of someone, use SPF, the $30 billion fraudster himself. Why don't we start there? You know what I mean? Just saying. Anyways, fam, now let's discuss the potential supply shock incoming as per Invest Answers as institutions fight for the final 5 % of the Bitcoin supply. That's right, citing an infographic from blockchain analytics firm Glassnodes stating that 95 % of the existing supply of Bitcoin has not moved over the past 30 days. Anonymous host of Invest Answers tells his half a million YouTube subs the Bitcoin needs to rally is a buy -side catalyst, quitting him here. Breaking news, 95 % of all the Bitcoin has not moved in the last 30 days. So again, despite the weak market, only 5 % is moving around with 95 % sitting tight. And we know why. But the real magic of this, imagine there is a catalyst and imagine big money wants to jump in and buy a truckload of Bitcoin. The price will just go parabolic. And that's just economics, ladies and gents. This is why I am so obsessed with Bitcoin. It is so scarce. So literally when the big institutions come and they are fighting over that 5 % and all the legacy holders are just sitting there watching anyway, it's a reason to be excited. And the charts don't lie as the HODL waves chart from Glassnodes shares here, literally 95 % of all the Bitcoin has not moved in the past 30 days. So shout out to all my long -term HODLers. The anonymous host also further says that the remaining supply of Bitcoin after accounting for the long -term HODLers and the lost Bitcoin is also yet another bullish indicator, quitting him here. The amount of Bitcoin that is either HODLed or lost or basically has not moved in the last five years is nearly 8 million BTC. That means technically only 11 million or thereabouts have not. And in fact, taking this five -year plus, it doesn't include all the Bitcoin lost over the last five years or less. So we just know it is super scarce. It is question, well, if it is so scarce, is that not bad? No, it is not. It means the price of what's left will go up and it won't take a lot to move it as well. So there you have it. And in this chart by Glassnode, you can see the 8 million Bitcoin HODLed or lost in the past five years, but only 11 million left as the smart money and the whales continue accumulating as they should. So there you have it. Let me know if you feel that Bitcoin supply shock is going to be incoming, this halving coming up in roughly six months, scheduled to be sometime in April 2024. Let me know your honest thoughts in the comments right down below. Now let's discuss our next story of the day and discuss when do you think the Bitcoin price is likely to hit that new all -time high? Well, let's break this down according to Crypto Con, a fellow analyst predicting all -time highs in 2025, which I feel is conservative. I think personally we're likely to smash the 69 ,000 all -time highs sometime next year in 2024. But let me know your thoughts, chat. Now amid debate over the nature of the current Bitcoin four -year price cycle, Crypto Con believes that all may be simpler than many imagine when it comes to how Bitcoin behaves at a given time. Unveiling the November 28th chart on X, he delineated the date of the key pivot point for the year along with a three -week period on either side, quoting him here, using four -year time cycles against my inception. The cycles are centered around the dates of the first halving, November 28th. And he continues, the Bitcoin price action began at the first bottom, October 8th, 2010. This is where cycle curves peak every four years. Tops and bottoms come plus or negative 21 days from November 28th at their appropriate times on the curve. Tops on the upswing, bottoms on the pinnacle. So the chart virtually describes November 28th as Bitcoin date. Bitcoin sees a Bitcoin bull launch every four years. The last was in 2020 when Bitcoin broke beyond his previous all -time high, hitting the current high of 69 ,000, which we did in November of 2021. The next point of interest is thus November 2024. Until then, Bitcoin price action will spend its time in a mid -cycle lull, according to the analysts. After Bitcoin bottoms, the price makes an early first cycle move, which you can see in this chart in the orange and enters into a mid -cycle. This is the longest part of the cycle where Bitcoin spends time around the median price, half of the previous all -time high until the curve bottoms. So ultimately, the median price of the previous high is probably in that $33 ,000 to $34 ,000 range, just FYI. But he did add that Bitcoin had almost certainly seen its early top, referencing the 31 ,800 local highs back from July of this year. Now, as reported by Cointelegraph, opinions on where the Bitcoin price action will go into the 2024 block subsidy having differ from analyst to analyst. Some argue that the modest gains will be all that the hodlers will see before the event scheduled for April of next year, again, roughly six months out. We also have Phil B. Philby, co -founder of trading suite Decent Trader. He delivered a $46 ,000 target for the halving with $36 ,000 slated for year's end. What are your thoughts surrounding these two targets? Do let me know. Meanwhile, CryptoCon summarized that 2023 Bitcoin's price behavior as a full market fake out, putting him here. This makes it appear as if the bull market has begun with the trigger of many signals. But then at some point, the price fails to continue. This is the most convincing example we have seen of this yet. And personally, I think there is still some time to go for that. And I am patiently awaiting its completion in which he shares alongside the Bitcoin one -day candle chart. Now, as we know, we'll see where the Bitcoin price is likely to go next. But now the million dollar question, when are we likely to finally get a Bitcoin ETF spot in the United States as they have been getting denied now consistently for over a decade with the first app being submitted by the Winklevoss twins, owners of the Gemini exchange? Because we all know fact there is a lot of money on the sidelines. In fact, analysts are predicting over 30 trillion will be ushered into the Bitcoin price and the market cap as soon as this does get the approval. But when is the million dollar question? So let's discuss when the spot Bitcoin ETF followed by a prediction of the Bitcoin price soaring 60x from the current price action to one and a half million dollars per coin. Then we'll dive into our live Q &A. So the first spot Bitcoin ETF app was filed in July of 2013, literally over a decade ago. Fam, I'm not exaggerating. It was denied in both 2017 and 2018. A decade has since passed since the initial app. Now the SEC had rejected more than a dozen additional apps and repeatedly punched the date for deciding on others. I'm sorry, punted, meaning they continue to push it back. The ETF saga's latest interaction saw Bitcoin jump more than 6 % as industry advocates celebrated a court ruling that affirmed what we already knew, that the SEC's rejection of the Grayscale ETF app was arbitrary, 100%. This was of course followed by the SEC delaying its decision on all seven pending Bitcoin ETFs and a subsequent price drop. Now we wait as the SEC deliberates on its next move surrounding the Grayscale pleads for approval. Now to a degree, the case for Bitcoin ETF makes sense in the spirit of adoption. The $7 trillion ETF industry is ripe with investors still on the crypto sidelines awaiting for a product that would grant them Bitcoin exposure without having to buy Bitcoin directly and set up a wallet. Plus as a community that's fought long and hard to have digital assets taken seriously, the crypto world is inclined to welcome the validation that the United States ETF would signal. 100%, when are we going to get that? But crypto, Bitcoin especially, is predicated on the need for an alternative financial system, one that enables the financial sovereignty, transparency, and consensus that traditional finance is glaringly lacking. The crypto industry's eagerness for an SEC ETF approval feels like a step backward akin to the American revolutionaries begging parliament to intermediate colonial tax collection and rejection of its imperial rule. And as Michael Saylor points out here in this tweet, BITO had underperformed Bitcoin by 28 % year to date. This is why we need a spot. Bitcoin ETF preach. And again, Michael Saylor says the Bitcoin price can soar to $5 million per coin just on the back of the three catalysts I mentioned earlier. And mainstream adoption is a ubiquitous goal amongst crypto champs. And the SEC sign off on a Bitcoin vehicle that resonates with trade fi is ostensibly a fast track right to it. But fighting for approval from an opaque centralized agency for an intermediated investment product belies our industry's purpose. And frankly, it's unnecessary preach. The irony of cautious investors waiting to buy Bitcoin ETF shares rather than taking the safer route of buying Bitcoin directly is palpable. ETF bears many layers of counterparty risks, including the sponsor custodian and other partners. We saw how catastrophic this type of risk can be to crypto during the latest contagion when customers lost more than $10 billion within months because they trusted third parties. Now, though the contagion appears to have dwindled, the major takeaway remains. If you don't have the private keys to your Bitcoin, your assets aren't in your control, and they may not even exist. Facts, not your keys, not your cheese fam. As we preach here on the channel, those of us who witnessed the fallout up close know this, but investors who have been waiting on the sidelines for the ETF likely do not. It is our job as industry builders and veterans to help the newcomers understand the new degree of security and risk aversion that Bitcoin technology enables. The downside of a spot Bitcoin ETF runs deeper than the conceptual contradiction of the unknowingly purchases of a riskier investment. The potential cost of the crypto movement is immense. Take, for example, BlackRock iShares Bitcoin Trust, the announcement of which drove the Bitcoin price to one -year high in June. However, perhaps blinded by the prospect of monumental institutional inflows, much of the Bitcoin community, myself included, has thrown its support behind BlackRock's iteration of TradeFi 2 .0 haphazardly disguised as Bitcoin conviction, and buried within BlackRock's submission is a clause on hard forks, which you may not know about. Quoting them here, the sponsor use is discretion to determine which network should be considered the appropriate network for the trust purposes, and in doing so may adversely affect the value of the shares. There is no guarantee that the sponsor will choose the digital asset that is ultimately the most valuable fork. The sponsor may also disagree with shareholders, the Bitcoin custodian, and other service providers, the index administrator, crypto exchanges, or other market participants on what is generally accepted as Bitcoin and should therefore be considered Bitcoin for the trust purposes, which may also adversely affect the value of the shares as a token. However, the sponsor uses the consensus mechanism for a protocol that has already been well -defined and battle -tested mechanism. So it's going to be interesting to see how this all plays out for the major institutions around the world. We know the BlackRock track record is literally 575 to one, meaning the SEC have approved 575 ETF requests, and I've only ever denied them of one. The possibility and likelihood of an ETF being approved by BlackRock I'd say is extremely high, but it takes us back to the million -dollar question, when? If I was to put a date on it, I'd say likely. Sometime in 2024, as ETF experts and analysts are currently predicting, including Eric Valchunas, says there is a 95 % chance of a spot ETF being approved in 2024, and I believe he gave it a 75 % chance of still being approved by the next deadline, which is October. Putting on my Nostradamus hat, I think Gary of the SEC are going to likely push back and punt the deadline once again until next year. But that's my two Satoshi's. Let me know your thoughts, fam, in the comments right down below. And now let's break down our final featured story of the day, and that's the BlackRock Bitcoin spot ETF unlocking literally $30 trillion of value into the crypto market cap. That's right. According to Bloomberg, ETF analyst Eric Valchunas' approval of a Bitcoin ETF could potentially be the game changer in unlocking vast reserves of capital for the crypto market. His analysis estimates that $30 trillion worth of assets controlled by the US financial advisors could be funneled into Bitcoin investments if a spot ETF green is signaled by the US SEC. So let's discuss this domino effect of BlackRock's controlling over $9 trillion in assets under management. We all know they submitted their app for the Bitcoin spot ETF last month, significantly shifting the probability landscape. According to Valchunas, the chance of a spot Bitcoin ETF approval soared from only 1 % to over 50 % following BlackRock's involvement. And as I broke it down for you, he's now saying 75 % chance this year and 95 % chance next year. And quoting him here, their application triggered a wave of similar filings by other prominent firms, such as ARK Investment, Valkyrie, and Fidelity, setting the stage for a highly competitive environment. That's right. Now, Fidelity, I believe, is the second largest asset manager in the world that currently controls over $4 trillion in assets under management. And although Bitcoin futures ETFs do exist in the US, they pale in comparison to what a spot ETF can bring to the table. So currently, these futures -based ETF accounts for only about $1 billion in total assets under management. Valchunas describes the approval of a spot Bitcoin ETF as the holy grail that would dwarf the current offerings and galvanize the crypto market like we have never seen before. So send it and let's freaking go. Also, a spot ETF would not only benefit Bitcoin, but also serve as a boost for the rest of the crypto industry, solidifying the assets class position and mainstream finance. And as they say, a rising tide raises all ships, so not only Bitcoin, but the entire crypto market would obviously benefit the approval of a Bitcoin spot. ETF stands on potentially transformative moment for the American market, with at least 10 firms currently in competition, and astronomical sums are at stake. The race is currently heating up. BlackRock haven't already partnered with Coinbase in 2022 to offer institutional clients crypto access to launching its own spot Bitcoin private trust, appearing to be at the vanguard of the financial revolution. So with trillions of dollars in play, the implications for Bitcoin and the broader crypto market are currently colossal. The clock is ticking and the world watches with bated breath as regulatory decisions loom on the horizon. So there you have it. I also want to mention, if you'd like to watch this, Eric Valchunas, the analyst from BlackRock, talking about $30 trillion entering the market upon the approval of an ETF, check the show notes below the video in the description. And I also want to talk about, off of the news, which was shared last year, that BlackRock could team up and partner with Coinbase as a custodial, we had some predictions of a $773 ,000 Bitcoin price. So I'd like to break down the math and where these numbers have come from. So quoting Invest's answers from his forecast, which he made on his channel, that Bitcoin price is going to go parabolic off of this news, quoting him here, if BlackRock were to place just a half a percent of its assets under management, Bitcoin's market cap would be affected by an increase of over a trillion dollars. This would add about $75 ,000 to the Bitcoin price. Bitcoin, which is in the $23 ,000 band at the time he made the prediction, will make its way to about $98 ,000 per coin. This is 326 % more than today's price. And it is very, very achievable. So let's talk about it more long term. So he also stated that if BlackRock stands out with an asset value of $10 trillion, put 1 % of their funds into Bitcoin, the leading crypto would be worth more than $150 ,000 per coin, quoting him again, now if they allocate a 1 % stake, which will of course take time to reach this level, that would add about $2 .1 trillion to the market cap and $150 ,000 to the Bitcoin price. And that would push Bitcoin's future price to $173 ,000 per coin. The profit for Bitcoin here is 652%. And the analysts also stated the Bitcoin can rise to as high as $773 ,000 if BlackRock allocates just a 5 % share. But on the other hand, this estimate can be considered to seem quite maximalist in the current situation. However, according to the crypto analysts, between the next three to five years, the price will be achievable at these levels, quoting him again, if as analyst Dan Tapiero said, they add 5%, which I think is very aggressive, maybe with time, maybe in the next three to five years, it will be possible. This will quite easily push the price of Bitcoin to $773 ,000 per coin in the next three to five years. So there you have it, fam. Let me know if you agree or disagree with the analysts. Do you think the approval of a spot Bitcoin ETF in the US will help usher in literally, literally $30 trillion into the market considering the current Bitcoin market cap is only $500 billion? That's roughly 60x. So if you take today's price of $26 ,000 and times that by 60x, we get above a $1 .5 million Bitcoin price. And don't forget to check out CryptoNewsAlerts .net for the full premium experience with video and to participate in the live Q &A. Thank you.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1387: One Bitcoin Will Be Worth $1 Billion By This Date - Fidelity
"Let's get it. In today's show, I'll be breaking down the latest technical analysis, as well as breaking news. Google Cloud to digitize El Salvador's governance, healthcare, and education, as well as Elon Musk's ex moves closer to crypto payments with their newest state license they just received, as well as breaking news. The SEC's first deadlines to approve seven Bitcoin ETFs are coming over the next week. We'll also be discussing Grayscale's roadmap to a Bitcoin spot ETF following the most recent SEC triumph, as well as Fidelity, one of the world's largest asset managers that currently control over four and a half trillion in assets under management are predicting a $1 billion price action for each Bitcoin. In fact, did you know they started accumulating Bitcoin all the way back in 2014, literally almost a decade ago? We'll also be taking a look at overall crypto market, all this plus so much more in today's show. 87. That's right. I'm your host JV. And we have a jam -packed session for you today. Looking at the market watch here, we can see Bitcoin after almost staying above 28 ,000. Unfortunately, it broke that support and we're back down to 27 ,200 at this time, but Ether also back in the red down 2 % for the day trading at just above $1 ,700. And checking out coinmarketcap .com, we're barely sitting above a trillion dollars, which is that milestone we've been sitting at for quite some time regarding the overall crypto market and about 34 billion in volume in the past 24 hours with the Bitcoin dominance at 48 .9 % with the Ether dominance at 18 .9%. And checking out the top 100 crypto gainers of the past 24 hours, we have XDC up 8 % trading at 6 .4 cents, followed by TonCoin up 6 % trading at $1 .75, followed by BlockStax up almost 3 % trading just under 53 cents and checking out the top 100 crypto gainers for the past week. Yesterday was a sea of green as the price action pumped literally $2 ,000 in a span of 30 minutes off of the news of the SEC losing their trial versus grayscale with the conversion of the GBTC product into a spot ETF. But today we have corrected some with HEXB crypto greed and fear index. We're currently rated a 49, which is neutral. Yesterday was a 39 in fear last week at 37 and last month a 50, which is neutral. So there you have it. How many of you are currently bullish on the king crypto? Let me know. And how many of you are anticipating a lower price action so you can keep stacking them sats on the low? Holla at your boy. Now let's break down today's Bitcoin technical analysis. Check out the charts and what is popping right now in the markets. As you can see here, Bitcoin drifted towards $27 ,000, which again, we're just sitting above $27 ,200 at the time of this recording. At the Wall Street open, the dust settled on the digital asset manager, grayscale's legal victory. Here you're looking at the Bitcoin one hour candle chart. Now data from Cointelegraph showed a positive verdict for grayscale against US regulators, sparking almost 8 % gains. Bitcoin managed to tap $28 ,100 on Bitstamp, its highest in almost two weeks, before returning to the current level. So despite closing the daily candle above two key moving averages, these had yet to return as definitive intraday support. And on the day, analysts were quite cautious. In a quick take post from on -chain analyst Crypto Quant, he goes on to share, noting that the grayscale move had originated on derivative exchanges. So despite funding rates remaining fairly neutral, there was a clear absence of value. However, it is difficult to see that the spot exchange led the price increase when the Bitcoin price rose yesterday. The reason is that the trading volume ratio shows that it had decrease rather than increase. Now additional data showed trading volumes were still below those seen during the upticks of earlier this year, quoting them here. Of course, there is a tendency for prices to change significantly, even with small trading volumes, because of the overall liquidity in the crypto market, which has decreased. However, it seems that there is a need to be a little cautious about the fact that this rally leads to a dramatic rally. Now let's discuss many similarities to Bitcoin's all -time high. According to crypto analyst Brett Capital, quoting him here, we're seeing many similarities between the double top of 2021 and what we're seeing right now, he warned. Should the similarities play out and Bitcoin produce a full fractal, 26 ,000 would flip from support to resistance to initiate further downside. So for the time being, we're seeing a lot of signs really playing into all of this in which he reiterated alongside this chart. Now, another target analysts are talking about right now is 23 ,000 becoming increasingly important. Rec capital likewise flagged that level of 23K as a prominent level versus the 2022 bear market bottom structure and inverse head and shoulders pattern, as he mentioned here, that's the level that we can see the price rebound from. So there you have it. Let me know if you feel we're likely to drop sub 25 ,000, potentially touch 23 before rising back up. Or do you think we'll take off from here, off of one of the biggest news stories of the year, which is a big fat L for the SEC and a big fat victory for the entire crypto industry. Let me know your thoughts. And with that being shared, fam, now let's discuss breaking news coming out of El Salvador with Google, which is actually quite interesting. Yesterday, I saw Nigel Bokele made a tweet and this is what it was in regards to Google Cloud announced a new partnership with the government of El Salvador. Interesting, right? On August 29th to establish an office and provide Google distributed cloud services in their country, the partnership aims to digitize the country, update government services and improve the healthcare and educational systems. The GDC will also help bring infrastructure closer to where data is generated for El Salvador. Bokele, the country's president said he believes El Salvador is quickly becoming a hub for innovation. As he shares here, El Salvador is moving forward. We believe technology and foreign investment are key for development. And here's where he announced the partnership in this, I shouldn't say tweet anymore, but on this post on X quoting Bokele, Google plans to establish operations in El Salvador and he shared the official press release from Google. Now, Thomas Curain, the CEO of Google Cloud said he believes cloud computing can truly transform Latin America. As shared here, access to cloud computing has dramatically expanded across industries and regions throughout the world, he said, enabling both small companies and the public sector to utilize the very same apps and services as more mature markets. Now, Cointelegraph also reached out to Google Cloud for additional comments on its recent expansion. The additional GDC infrastructure will help support El Salvador's active stance on Bitcoin adoption and integration into society. It allows for Bitcoin full nodes with ordinal protocol support. And additionally, back on August 8th, a few weeks ago, El Salvador granted the crypto exchange Binance a license to offer crypto services to users in the country. Bitcoin had began as legal tender in El Salvador back in 2021. And recently the Bitcoin Beach Initiative took to the classroom and taught over 25 ,000 students about Bitcoin, helping them earn a Bitcoin diploma via the country's educational system. The country has already seen immediate returns on the program with the example of one teenager who earned the diploma and then returned to his former school to teach the educators about the digital asset. That's what's up. I think mass adoption is likely to continue, especially in places like El Salvador that are ahead of the rest of the world. And I think more and more major companies are going to be opening up shop because it just makes so much sense. Why wouldn't they? That's why Binance just got their license. Jack Mallers Strike Company just got their license. Bitfinex got their license and they're opening up shop. And I believe that the Bitcoin game theory is in full effect and will continue to play out as the days go by. And with that being shared, fam, now let's break down our next story of the day. As you probably know, major news was actually released yesterday regarding X, which is the platform owned by Elon Musk to integrate crypto payments. We made a pretty big development, so let's break this down before we dissect the ETF deadlines. Rhode Island's regulators have granted X, formerly known as Twitter, a currency transmitter license, marking a step forward for the company's foray into the financial services sector. The license is legally required for companies conducting financial activities on behalf of users related to sending and receiving money, a definition that includes both fiat as well as crypto assets. Now, this approval will allow for X to custody, transfer and exchange digital currencies. Now, X's Rhode Island currency transmitter license was approved on August 28th, two days ago, according to the nationwide multi -state licensing system, NMLS. The move marks an important step forward for Elon's push for X to become an everything app, which would include crypto as well as fiat payments. Now, naturally, social networks like X are massive, so this could help usher in that mass adoption. Now, while sources have suggested that X's upcoming payments feature will initially only offer support for fiat currencies, Elon had reportedly instructed developers at X to build the platform's payment system in such a way that crypto functionality can be added into the future. Yeah, if you're not integrating Bitcoin into your payment system, then do you even have a payment system for the future as Bitcoin is the future of money? Just saying. The approval comes nearly two months after X secured money transmitter licenses, also in Michigan, Missouri, and New Hampshire, which were well -approved on July 5th. X's latest license marks a total of seven American states it secured transmitter licenses in, so my guess is they're going to have to continue getting more and more licenses for all the states. It remains unclear exactly what financial offerings will be made available if and when X rolls out their payments feature. People familiar with the company's plans have indicated that X will initially offer fiat currency transaction services similar to PayPal, which Musk co -founded with room for future crypto integration. Do you think Bitcoin will likely be an announcement that they will be accepting crypto payments? I mean, who cares about Doge if you don't have Bitcoin integrated? So, I feel Bitcoin is a given if they're going to be integrating crypto and it seems to be going that way. But how do you feel this is likely to play out? Let me know your honest thoughts in the comments right down below. And now let's break down everything you need to know regarding the recent spot ETF deadlines for the United States and regulators. And after we discuss all these deadlines, we're going to specifically be talking about the GBTC Grayscale product, getting that victory over the SEC and what that means moving forward with the Grayscale Bitcoin ETF. And then we'll be dissecting Fidelity, one of the largest asset managers in the world, and their $1 billion Bitcoin price prediction. And then we'll wrap up with our live Q &A. So yeah, let's discuss this. The US SEC is facing its first deadlines to decide on seven spot Bitcoin ETF apps, with the latest being September 4th, which is what, virtually five days away amid its defeat to Grayscale Investments in the US Federal Appeals Court. Investment firm Bitwise will learn if its ETF will win the SEC's approval September 1st, which is what, two days away. While BlackRock, VanEck, Fidelity, Invesco, and WisdomTree will all be awaiting the SEC's decision for their funds by September 2nd, three days away, according to several SEC filings. So, that's right around the corner. It's going to be a big week. Meanwhile, Valkyrie is set to hear back from the SEC on September 4th. The US Court of Appeals ruled on August 29th that the SEC's rejection of Grayscale's app to convert their GBTC into a spot Bitcoin ETF was arbitrary and capricious. But this doesn't mean that the SEC must approve Grayscale's app or others in the future, says Bloomberg ETF analyst, James Safart. And in August 29th Bloomberg Review, he explained that Grayscale's win will definitely increase the odds of a successful outcome for the SEC. But he is unsure when that day may come though, as the SEC can delay his decisions and has two more proposed deadlines for each fund before being forced to make a final decision on the 240th day post filing. Now, what a shame it would be if they make us wait the 240th final day before giving an answer. But hey, don't run it by them. I mean, don't put it past them, especially with Mr. No Clarity Gary as the chairman. But anyways, for the awaiting applicants, the final deadlines for the SEC are all in mid -March of next year. And as someone shared here, odd and free, 99 .9999 % chance that the world doesn't know that the SEC has to decide on seven Bitcoin ETFs within the next three days. And this does include the largest asset manager in the world, BlackRock, Bitwise, VanEck, WisdomTree, Investico, Fidelity, and Valkyrie. The suits are at our doorstep per each. And how many of you weren't aware of that, that the decision within the next seven days is going to be on those seven major asset managers. Now, after the August 29th ruling in favor of Grayscale, the regulators have 90 days to file an appeal with the US Supreme Court or apply for an en banc review where the full circuit court can overturn a ruling made by a three judge panel. However, the SEC hasn't made clear what the next move will be. If the SEC doesn't appeal, the court will need to specify how its ruling is executed, which could include instructing the SEC to approve Grayscale's app or at the very least revisit it. But either way, Safer only saw two viable options for the regulator. The first option is to concede defeat and approve Grayscale's conversion of its GBTC as a Bitcoin spot ETF. But alternatively, the SEC would need to revoke the listing of Bitcoin futures ETFs entirely or deny Grayscale's app based on a new argument, says Safer, quoting him here, the second potential avenue is to deny on reasons not used before yet, which I have been saying for months could have to do with custody or settlements of Bitcoin, which is not something that futures ETFs have to worry about. The SEC has made a lot of noise around custodians. However, fellow Bloomberg ETF analyst, Eric Balchunes, considered the odds of the SEC revoked in the Bitcoin futures ETFs as highly unlikely because of the SEC reported openness to Ethereum futures ETFs, in which he makes a great point, quoting Eric here. This guy turned the last paragraph of Judge Rao's legal smackdown today into a MGMTS stylish banger, really captures the modern. Well done. Well, so there you have it. I guess this is some song I haven't even listened to yet. So I'll jam to it a little later on. We'll see if it's any good. But anyways, fam, how do you think this is likely to play out by the SEC? Do you think they're likely to approve any of these seven ETFs or do you think they'll just continue to push it back until next year? Let me know your honest thoughts in the comments right down below. Now let's dive deeper with the latest breaking news regarding the grayscale ETF and their conversion of their product into a spot ETF. And did you know that their product literally has over 600 ,000 BTC? Hence, they'd be the perfect candidate for a spot Bitcoin ETF because they already hold the underlying asset. They don't need to purchase it. So I mean, they'd be a prime candidate along with BlackRock. Which one will get approval first is the million dollar question, but let's break it down. In a seismic shift for the Bitcoin industry, the DC Circuit Court ruled in favor of grayscale investments yesterday, which is breaking news, which we've been hearing all across social media. Now, Jake Stravinsky, the chief policy officer at Blockchain Association, described the ruling as massive, emphasizing it's extremely rare for a federal circuit court to find an agency like the SEC in violation of the Administrative Procedure Act. Stravinsky stated that the DC Circuit soundly rejected the SEC's view that grayscale's ETF proposal was not designed to prevent fraudulent and manipulative acts and practices. So good for them. He also pointed out that the court did not order the SEC to approve the proposal, but rather mandated a review of grayscale's proposal with the court's ruling in mind. Stravinsky speculated on two possible scenarios for the SEC's next steps. One theory suggests the SEC could find another reason to include no clarity Gary towards crypto. And alternatively, the SEC might take this as a semi graceful exit from their anti ETF stance, especially under political pressure from traditional finance sectors ready for a Bitcoin ETF as we are long overdue. They first rejected the first Bitcoin ETF for a spot in the United States over a decade ago. And the app was from the Winklevoss twins with Gemini, just FYI. Now, many other issuers have proposed ETFs this year, include BlackRock and Larry Fink throws heavy punches in DC. Therefore, here's what the lawyer thinks. The only question is if the SEC wants to make this more painful for itself. Trust me, if there is another denial, there'll be another lawsuit. I strongly recommend that the SEC picks sooner. Let's see. Now, James Safart, the ETF analyst over at Bloomberg, corroborated the significance of the ruling stating it's a complete and utter rebuke of the SEC spot Bitcoin ETF denial orders. And quoting him here, I was initially thinking something like a deadline of 45 days or 60 days, but nothing in here saying that. However, he noted that the SEC has 45 days to file for that en banc hearing, which would involve all 17 judges on the court, good Lord, as opposed to the initial subset panel of only three judges. The Bloomberg analysts also outlined two main motions for the SEC. If they still wish to prevent the spot Bitcoin ETFs from listing, they either need to revoke the listing of Bitcoin futures ETFs or denied based on new reasons, possibly related to custodial or settlement issues, which have been a focal point for the SEC staff accounting bulletin 121. Now, Adam Cochran, partner of CEHV added another layer to the timeline speculation. He alludes to the SEC's pending decision on six other Bitcoins spot ETF filings due by September 1st for Bitwise and September 2nd for BlackRock, Fidelity and others. Here's what he had to share. Some folks are getting ahead of themselves thinking that grayscale decisions means bulk approval of ETFs by this Friday. Likely not the case. My hunches were looking at a late October, November timeline for an approval still, unless the SEC appeals in which case next spring. Now I'm not a gambling man, but if I was a gambling man, I just want to throw out there. I don't think the SEC has any intention to approve a spot Bitcoin ETF in the United States anytime soon because their actions demonstrate the complete opposite. The only thing they have interest in approving are more futures ETFs so they can continue to manipulate the markets through derivatives, which are financial weapons of mass destruction. Quoting Warren Buffett, it is what it is, but nonetheless, this is still a victory overall because they could only push it back for so long. And especially with BlackRock demanding, I shouldn't say demanding, but in so many words, they're the one that started this domino effect with new ETF apps arising with the SEC. They are the largest asset manager in the world, controlling over $10 trillion in assets under management. So I think if Larry Fink wants something, it's going to get done. But the million dollar question becomes when? I think they're going to push it back this year and probably spring next year, we're going to finally start to see the approval of spot Bitcoin ETFs in the United States. And as soon as we get that approval, that can help usher in literally trillions upon trillions of dollars that are currently sitting on the sidelines directly in to the best crypto asset in the world, which is none other than BTC. If you'd love to see that happen, let me know. And by what date or deadline do you think we're likely to get that first approval? And you already know once that approval comes, money is going to start ushering in and the Bitcoin price is going to go parabolic and in perfect time because we also have another major bullish catalyst around the corner. Six months out, the scheduled halving is estimated to be sometime in April of 2024. So between the ETF apps being approved by the United States regulators and the Bitcoin halving, I couldn't be more bullish on Bitcoin right now, which leads us to our next story of the day, which is going to be a $1 billion prediction from one of the largest asset managers in the world, which is Fidelity. Let's break this down. Then we'll dive into our live Q &A. Make sure to say hello in the live chat. Let me know where you're tuning in from. A massive shout out to everyone interacting. I greatly appreciate all the continued support. So here we go. $1 billion. That's a lot of zeros. That is nine to be exact. In 2021, a billion dollars seems like a lot of money. FYI, Fidelity initially made this prediction in 2021. I also want to point out here from some tweets, Fidelity head of sales, quoting them here, we started mining and accumulating Bitcoin all the way back in 2014. I bet you a lot of you did not know that. This was kind of under the radar, but they have been accumulating BTC almost for the past decade. So is this a surprise that they're predicting a $1 billion Bitcoin price by 2038? They're putting their money where their mouth is. But anyways, we have Julian Timmer, Director of Global Macro Fidelity, believing that one Bitcoin could be worth $1 billion per coin by the year 2038. Send it and let's go. Timmer also believes that the orange coin could hit $1 million before this decade is over, which means by the year 2030, roughly seven years away. So that would represent a 20X multiple, the current Bitcoin market price of 48 ,000. But now obviously we're half that price of what we was. So that would now be 40X. And I know anyone can make predictions like that, but Timmer lays out his cause using his own valuation model and another well -known model, which we all know here on the channel, known as the stock, the flow. Timmer's demand model is based upon Metcalfe's law. Metcalfe holds that as the number of users of a network grows linearly, the value of the network grows exponentially. Thus, if the number of users doubled, its value would grow at four times or the square of two. Now Timmer's demand model grows steadily to about $1 million by the chart. Now, by contrast, now let's discuss the stock to flow model created by synonymous analysts. Plan B is based on the supply of new coins growing at a decreasing rate each year. This occurs because of the built -in happenings every four years. So given increases and adoption and demand, the result will be prices expanding exponentially. Indeed, the price of Bitcoin has grown approximately 10X every four years. Take that, Peter Schiff. These are facts, not just by 50 % slowdown in supply, pretty powerful stuff. That's right. Now, stock to flow predicts even faster growth in the price than does Timmer's demand model, especially after the year 2030. As I commonly cover here in the show, the stock to flow model is projecting roughly a half a million dollar Bitcoin price past the halving in 2024. In fact, the model shows a very wide array in their expectation, anywhere from a hundred thousand to a million dollars, with a half a million being dead in the middle, hence in a couple of episodes previously, if you missed it, we discussed Plan B's most recent prediction, which he shared on his YouTube channel, that he believes the Bitcoin price will be north of $530 ,000 per coin proceeding the Bitcoin halving in 2024. But let's get back to this math. This is the stock to flow model you're looking at right here. Now let's go back over here. This is some more insights. Timmer stated the value of the dollar changes in relation to other assets. And he further pointed out that just a dollar invested in stocks in the 18th century would be worth $4 billion in today's money. Isn't that insanity? Talk about super hyperinflation. So going by this assumption, $1 million in today's money can be worth a billion dollars in 20 years time. Good Lord. You better start stacking them now, fam. So changes in the dollar's value, especially depreciation over several decades, render the same amount with less purchasing power, which is why huge sums back then appear less by today's standards. For instance, $1 million can purchase a lot of significant things a few decades ago, but in today's perspective, reasonably higher end houses in the US cost between, I would say $200 ,000 and $500 ,000. The same $1 million may not suffice for the same class of houses today. This is a fact. Just here in Puerto Rico alone, I've seen the real estate market literally shoot up 100 to 300 % since moving to this island roughly four years ago. And that's not just an exception to the rule. It's all across the United States, hyperinflation. I mean, check out the rent prices. That will give us some insights to the true nature of inflation. You can check out Zillow, check out real estate five years ago in comparison today, and you'll probably see something quite similar. But anyways, there's an increasing number of billionaires across the globe. Facts. Some observers even believe we may see the first trillionaire in this lifetime. I think it could potentially be CZ, the finance CEO, or even Michael Saylor of MicroStrategy. Now, the same applies to organizations with several companies now passing the $1 trillion mark valuation cap. Fidelity previously pegged Bitcoin to hit $1 million in initial prediction made by Jerry and Timmer by the year 2035. However, he ultimately said, we're way too conservative. Let's move this target on up from $1 million by the year 2035 to $1 billion by the year 2038. So there you have it. Do you feel the Bitcoin price can likely exceed their conservative target of $1 million by the year 2030 within the next seven years and hit as high as $100 million to $1 billion per coin by the year 2038? Let me know your honest thoughts in the comments right down below. And don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
Latina to Latina
A highlight from How Cece Meadows Built a Cosmetics Line as an Homage to Indigenous Beauty
"C .C. Meadows has survived a lot. Ovarian cancer, domestic abuse, a period where she and her kids were homeless. Today, she runs a makeup line, Parados Beauty, and as you're going to hear in the telling of her story, all of that hardship and all of that struggle only doubled C .C.'s commitment to giving back. C .C. shares how her indigenous roots informed her vision of beauty, the financial mechanics of fulfilling huge product orders, and how her retail partnership with e -commerce site 13 Loon and JCPenney catapulted Parados Beauty into profitability. C .C., thank you so much for being here. Thank you for having me. So, C .C., you grow up outside of Yuma, Arizona, the eldest of four children, and you describe it as a pretty rough upbringing. Can you give me a sense of what that looked like and the lessons that you were growing up with? My parents were fairly young. I think my mom was 17 when she had me. My dad was like a cowboy on a cattle ranch. He started working there when he was like 14. We didn't really have a lot. I remember my parents telling us that we were rich in love because we had each other. I think that that's like a normal thing that you say to kids because you literally have nothing. My grandparents were a big, big part of my childhood growing up. I actually didn't even speak English when I went to kindergarten because I was raised pretty much in my grandparents' home and they only spoke Spanish and like traditional Yoemi language, but I loved school because, you know, we had breakfast and lunch and then eat dinner at my grandparents' house and saw these three jolitos and rice and squash. I hated squash for the longest time because I ate it so much as a kid, but, you know, we didn't really have a lot. It was really rough. The way you tell it, I mean, it feels to me like your life sort of took off like a rocket ship in the sense that like a lot of kids who are living in homes that are under resourced, school for you becomes a refuge and you do really well in school and school is a place where you thrive. You even become the first person in your family to graduate from college. You get big jobs out of school. You're making six figures working in finance. You get married, you have a baby girl, and then things are going up, up, up, up, up, and then you get sick. Tell me how you go from being a self -described successful person to being absolutely broke. Yeah, so I had just separated from my first husband. I got married super young. I was 21 years old when I got married, divorced, you know, or separated at 25. Between 25 and 27, like I continued working in finance and being successful and learning how to shuffle a co -parenting schedule with him and he was great. He's always been great, but I started dating somebody after my marriage ended and it was great when it was great and it was awful when it wasn't. And so I'm a survivor of domestic abuse and I feel like being in that relationship was just the kickoff of this domino effect of just unfortunate circumstances that started happening in my life. I'm diagnosed with ovarian cancer at 27. I've always had like women issues, menstruation issues. I would get ultrasounds pretty often and they were just following, you know, you get polyps and you get like cysts and things like that. They were following just one that just kept growing and they're just like, you know what, we're going to have to go in and biopsy this, like it looks like it's growing. And so they caught it very early. I'm super lucky, but I did one round of chemo. I didn't have the long -term disability option to just stay home and so I went back to work, you know, I was wearing my scarves and I just was too sick to work and I had to stay home eventually and I just didn't have the resources to be able to live. And so I ended up going through remission and then I had my son the following year. He was just a little bit over two months and I moved in with my ex and he was an alcoholic. And I found myself holding a newborn baby, being kicked out of the house and the only thing I could grab was, you know, a box of diapers that were by the door and I didn't have anywhere to go. Ultimately, that led me to being homeless and sleeping in Walmart parking lots just because I literally had nowhere to go. How do you begin to pull yourself out? Oh man, a lot of hope and a lot of prayer. I had a 2006 Super Sport Monte Carlo and it had a moonroof on it and we were sleeping in a Walmart parking lot and it had just stopped raining and the clouds kind of opened up and you could see the stars and, you know, I'm holding my baby and I'm looking at this moonroof and you could see the stars so clearly and this is like in the Salinas, California area and so it's like always foggy and you don't really get like a clear view of the stars but I remember my little girl looking up and she was like, oh, look, it's the Big Dipper and the Little Dipper and she just, you know, she was only five and I always, you know, would talk to her about how we come from the stars and I remember her placing her little hand on my son, placed it on top of his head, I was holding him kind of like this and she looked at me and she said, Mommy, we're not really camping, are we? And think I for me, as a mother, there was no like other feeling to feel like a failure in that moment and I thought to myself, she's watching me, she's watching what I'm doing and she's watching what I put up with and she's watching where I brought her and, you know, kids are so resilient and you can like try to hide things from them but there was no hiding that from her and it was in that very moment that I decided that I needed to pull everything that I possibly could out of like myself, what I had left, what little I felt inside of self -worth and self -love and I needed to really focus on that because what I was doing was I was allowing a life, you know, time of, you know, at 28 years old, I was letting 28 years of things just fester and not getting like the therapy that I needed for myself so that I could learn what had happened to me and why and how I needed to stop it with myself so that my children didn't have to suffer the way that I was at that moment and so I ended up calling a friend of mine who was also having a hard time and I asked her like, hey, where did you go, you know, to get help? I was ready to go stay like in a homeless shelter and she was like, you can actually go stay with me at my brother's house if you need somewhere to go and I remember all I had was my two kids and like a laundry basket that I kept in the back of my car a couple of days just turned into us staying in an empty room that they had for a little bit over a year and I started going to cosmetology school.
CoinDesk Podcast Network
A highlight from CARPE CONSENSUS: Season Tickets for the Crypto Theater
"This is Carpe Consensus. Join hosts Ben Shiller and Danny Nelson as they seize the world of crypto. Hello and welcome to Carpe Consensus. This is a podcast from the CoinDesk Podcast Network and my name is Ben Shiller. I'm the features editor here at CoinDesk. And joining me today is Danny Nelson. Hi Danny. Hello Ben. How are you? I'm OK. It's been a tough week here at CoinDesk and we'll explain all about that in a minute. And we should just say that our normal co -host Cam Thompson is not with us today and will not be with us going forward. And we'll explain why in a minute. But how are you feeling Danny? It's been a tough week for CoinDesk so far. We made a series of layoffs recently. And how are you feeling about that? Yeah, it's the crab market, bear market, however you want to call it, takes its toll on everyone including media companies such as ours. So we had pretty extensive cuts this week and everyone's feeling the pain in the newsroom. Yeah, it's definitely a tough time. And anyone who's been in the media business for as long as I have seen a lot of these layoffs before. So it's not totally unexpected. But this is also connected obviously to the crypto market, which has been in a spiral for a while now. And we were protected by our parent company for a while. But that's gotten into trouble and we've now gotten into trouble. So it's a tough time. But we're going to soldier on through this, aren't we Danny? Well we'll certainly see, right? You know, this is my first job out of college. I've been here for four years. We can say I've levered up in my exposure to risk, right? Media is a struggling industry and crypto, the coverage of crypto is, as some might say, a dying fad. So I am in a struggling industry that focuses on a dying fad. So we don't know what's happening in crypto media, but it's not good at the moment. Yeah, so we're not going to sugarcoat this. It's been a tough week for us. And Cam was a casualty in a big round of layoffs here at Coindesk. And we're very sad to see her go. She was a very important member of this podcast and also the wider editorial team and a good egg and a good journalist. And we're very sad for her and for us and for the rest of the team. There were about 20 or so members of the editorial team that unfortunately no longer working with us and through no fault of their own because they all did all good work. So that's very sad. We don't want to make the whole show about Coindesk and the media, but it is an important part of the crypto industry. And we do play a role here in bringing transparency to the industry and holding people to account for what they say they're going to do and what they don't do. So we do feel that we need to discuss what's been going on at Coindesk recently and also in the wider crypto media. Do you feel that there's a loss of faith in what we're doing and in the media generally as regards crypto, don't you? Oh, I don't know about that. I mean, I think that broadly in American society, there's a lack of trust in media institutions. I don't necessarily think that crypto media is prone to the same risks as, say, the New York Times or something like that. But it's worth noting that we are in some ways a casualty of our own success. Coindesk was one of the leading publications that led to the dominoes falling on FTX and Sam Bankman -Fried that had ramifications for the entire industry, including DCG, our parent company, which owned Genesis Lending. And all these chickens come home to roost because even though we are editorially independent from DCG, they do not tell us what to do. They still own us, at least as of August 15th, and therefore their fate and ours are not unlinked.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1367: YouTube Exposed Attacking Bitcoin Content Creators!
"In today's show, we're gonna be discussing the latest technical analysis, as well as breaking news. Joe Rogan says, no effing way in regards to the US government, CBDCs, and the rollout. We'll also be discussing the SEC likely to approve several spot ETFs sparking the next Bitcoin rally. We'll also be discussing digital assets could be on the verge of the most incredible bull market ever says crypto analysts. That's right, we're talking about invest answers. Also, Bitcoin to explode by over 130 % before the end of this year predicts the one and only credible crypto, quoting him here, 100 ,000 plus is what I'm expecting for the end of the move that breaks the prior all time high. It'll come a few months after we break the all time high. And if we break the all time high this year, that can mean $100 ,000 plus this year or early next. Also in today's show, we'll be discussing Bitcoin content creators such as myself being banned from YouTube and everything you need to know. The good news is I'm officially reinstated, but we'll be discussing why this is in the first place. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my rumble channel at cryptonewsalerts .net. Again, that's cryptonewsalerts .net. And welcome everyone just joining us. This is pod episode number 1 ,367. I'm your fearless host JV. Let's kick off today's show with our market watch. As you can see here in the screen, Bitcoin currently correcting, but barely. We're trading above 29 ,400. Also ETH maintaining a $1 ,800 support as well. And checking out coinmarketcap .com. The current crypto market cap sits at 1 .17 trillion with about 27 billion in volume in the past 24 hours with the Bitcoin dominance at 48 .8 % and the Ether dominance at 18 .9%. And checking out the top 100 crypto gainers for the past 24 hours, XDC leading the pack up 12%, trading at 7 cents, followed by Rocketpool up 6 % trading above 28 bucks, followed by ThorChain up roughly 6 % trading just above a dollar. And checking out the top 100 crypto gainers for the past week. We also have XDC and let's see, RPL and SHIB lead in the pack and checking out the crypto greed and fear index. We're currently rated at 53, which is neutral. Yesterday was a 50, last week a 52 and last month a 57 in greed. So there you have it. Now let's dive into today's Bitcoin technical analysis and check out the charts and what is popping with the King crypto. And let me know in the comments how many of you took advantage of the recent dip sub 30 ,000. Holla at your boy in the comments and at the end of the show, I'll be reading everyone's comments out loud. So here we go. Bitcoin hovered near 29 .5 on August 10th as the markets brace for fresh US CPI print. As we can see here in the Bitcoin one hour candle chart, we have data from Coin Telegraph as well as from Trading View showing Bitcoin price stabilizing in the run up to the CPI release itself, which is a classic volatility catalyst. CPI is one of the key elements of the Fed when deciding interest rate policy. Last month's June readout was the lowest in two years with expectations broadly pointing to another drop for July quoting analysts van de Poppe, 3 .3 % are the expectations, but we are going to get it. And what will the markets do? Great question. Now JP Morgan Chase was among those warnings for a reacceleration into CPI values, quoting them here. The major uncertainty concerns two issues that were previously seen as unlikely to undermine the July numbers, which is the direct and indirect price pass -throughs of the recent increase in energy and food prices and the relative stubbornness of service inflation. Now with CPI today, I think Bitcoin and crypto are going to give us some fun and games, but ultimately I am slightly biased to more downside quoting this analyst Mark Cullen with Bitcoin reentering the range and failing to hold 29 .5 yesterday. If it can't immediately get back above and hold, I will compound my short. So there you have it. Nonetheless, market expectations regarding the rate hikes themselves favored a pause for the next FOMC meeting, which is scheduled next month for September. And according to the CME groups FedWatch tool, the odds of that pause were above 85 % at the time of this article being published and monitoring resource material indicators presented liquidity conditions on the Binance order book. These revealed the potential for snap downside thanks to a lack of bids support immediately below the current spot price, quoting him here, not speculating on what the CPI and job reports are going to look like in the morning at 8 .30 Eastern. We know those numbers will impact the soft landing narrative and the September Fed rate hike decision. What matters between now and then is where the liquidity is stacked and where it is thin. He also says that the price can move quickly through the dark illiquid zones because there is little or no friction, but to the contrary, the more liquidity there is around the buy -sell walls, the more insulated those levels are as outlined here in this chart. Let me know if you agree or disagree with the crypto analysts. Now, how many of you watched the Joe Rogan podcast? As you know, it is the most viewed or watched or listened or streamed podcast in the world, which we all know. He recently had a guest on Post Malone and he was bashing CBDCs, which I'm proud to hear him discussing. So let's break this down next. As we all know, central bank digital currencies are the destruction and enslavement to mankind, to say the least, so good stuff. Podcaster Joe Rogan blasted the idea of the US central bank digital currency, describing a digital dollar as a game over scenario for American citizens in the August 8th episode. He went on to share with Post Malone that no F in way, no way. That's what I think. I think that's checkmate. That is game over. Rogan spelled out the scenario where the tyrannical government could tie the flow of CBDCs to one social credit score, saying that citizens could easily be cut off for their finances for breaking the rules, quoting him here from the show. If they decide somehow or another that you need some social credit score system and it's for the benefit of society, and they outlined that, they can track your behavior and your tweets and all of your things. They just decided you effed up and the rules are the rules, he said. And to watch this clip coming directly from Joe, I'll include this in the show notes below the video in the description for you to reference and check it out. Now Post Malone also mentioned his concerns with the banking system in the US, noting that the FDIC insurance only covers bank account values of up to a quarter million dollars. The pair also discussed the controversial decision by the Canadian government to freeze the bank accounts associated with the Freedom Convoy truckers in February of last year. So very good conversations. Malone argued that the US government has far too much control over the flow of everyday people's finances and that they could potentially cut off funding to anyone at a moment's notice. It echoes similar sentiments from avid supporters of decentralized cryptocurrencies, such as Bitcoin, which we preach each and every day, seven days a week here. You know what I mean? Now meanwhile, discussions around CBDCs have become a talking point in the US. In July, Republican presidential candidate and Florida governor DeSantis swore to ban CBDCs in the US if elected president. And on the other side of the fence, we had Democrat candidate Kennedy Jr. criticizing CBDCs for being instruments of control and instead promised to back the US dollar with hard assets, including Bitcoin, if he were elected president. So there you have it. What are your thoughts surrounding this warning coming directly from the biggest podcaster in the world on CBDCs? Let me know your thoughts in the comments right down below. And keep in mind that Bitcoin is the antidote. Now, Max Keiser says, I orange -pilled Tucker Carlson, so I could also orange -pill Joe Rogan. I say, let's make it happen. How many of you would love to see Max Keiser be featured on the Joe Rogan podcast, orange -pilling him and the rest of the world? Let us know in the comments. And maybe if we get a lot of feedback, we can make it happen. I hope so. I'm a huge fan of Max, shout out to Max and Stacey Herbert. And with that being shared, fam, now let's discuss the potential of many spot Bitcoin ETFs being approved simultaneously in the US. According to ARK Invest's Cathy Wood, we all know that BlackRock, they launched their application for the spot ETF, and then like a dozen of others did the same thing. And this could be like a domino effect. This is good. We call this Bitcoin game theory here in the crypto sphere. So let's break this down. And how many of you would be looking forward to a spot Bitcoin ETF? Let me know. Now, the US SEC is likely to approve several spot Bitcoin ETFs, and quick succession triggered the next move to a higher, the world's largest digital currency, crypto service provider Matrixport said. In a report on Thursday, the ETF providers would spend considerable marketing expenses to draw on retail and institutional capital. Now Matrixport noted that at its peak, the Grayscale Bitcoin Trust, we know as GBTC, managed $43 .5 billion in assets and generated annual management fees of 870 million. That's no joke. The SEC will respond to the Grayscale GBTC lawsuit filing, as well as ARK21 shares Bitcoin ETF refiling next week. The regulator is expected to respond to seven other Bitcoin ETF filings during the first week of September. Let's go, quitting them here. A physical Bitcoin ETF will carry a management fee of 0 .071%, which could still bring in 200 million per annual for those ETF providers with marketing expenses front loaded The note also said that any SEC spot ETF approval could have a material positive impact on the Bitcoin price and investors should have enough upside exposure on any day that the regulator is scheduled to respond to the ETF apps. So keep that in mind. Now, if the SEC needs more time to assess the practibility and surveillance sharing agreements, then the price may correct initially in mid September. And this is the dip to buy, the report added. So there you have it. We all know there's literally trillions upon trillions of dollars currently sitting on the sidelines that could immediately move into the King crypto. Once that approval, it is game on. And as I shared in yesterday's episode on the pod, we talked about Novogratz predicts that the spot Bitcoin ETF will likely get approved by the SEC within the next four to six months, which means it will front run the Bitcoin having scheduled in less than nine months, which is gonna be sometime in April of 2024. If that gets you excited, let me know and drop a comment right down below. And with that being shared fam, now let's discuss our next story of the day. And that's a huge bull market. Who's not excited about that? So yeah, according to InVest Answers, one of my favorite podcast hosts, the analyst says that catalysts for the next massive bull run include top US crypto giant Coinbase's newly launched base and Ethereum layer two scaling solution, as well as PayPal's new stable coin, which is PayPal USD. Quoting InVest Answers here, you got the combination of base from Coinbase, TradeFi, and you could argue centralized exchange, and you got the PayPal stuff happening, deploying on Ethereum. Things are really getting exciting, ladies and gentlemen. This could be the most incredible bull market ever. Also like to throw out there that Charlie Schrem, as I shared in two episodes ago, he is predicting that this PayPal stable coins can send the Bitcoin price action to literally a quarter million dollars per coin, a lot faster than anticipated. If you agree with Charlie Schrem, also let me know your thoughts in the comments below. Now, InVest Answers also says that Solana just hit a golden cross a couple of days ago and shot up 10%. In fact, it's up probably another big percentage today. And what's going on with Solana thing? I think it's up another 7 % today. It shot up to a dollar 50, but the golden cross do matter. You don't want to get into a short position after a golden cross because 60 to 80 % of the time, the price goes down after a golden cross. And that's when the 50 day moving average crosses through the 200 day moving average. And to watch this video analysis called Blockchain Domination by InVest Answers, check the show notes below the video in the description. Now let's break down our next story of the day coming from Credible Crypto and his prediction of $100 ,000 Bitcoin price can come a lot sooner than anticipated. We're talking about before the end of this year. And again, what is that? Four more months left or so for 2023. So let's break this down and then we'll be discussing in great detail what happened between me and YouTube, with me getting my channel permanently terminated for 10 days and then being reinstated as well as the ongoing attack against crypto content creators, especially on YouTube. But I got to give YouTube kudos at the end of the day because they did reinstate my channel. So I want to be very clear, but I wasn't anticipating or expecting it because I looked at this as a matrix attack and I will be explaining why I had this thought and on everything that transpired over the past 10 days regarding my termination and reinstation, if that's even a word. But anyways, fam, now let's discuss this $100 ,000 price prediction from crypto analyst, Credible Crypto. So here's some of the tweets he shared that got my attention. Tweet number one, 100 ,000 plus is what I'm expecting for the end of the move that breaks the prior all -time high. It will come a few months after we break the all -time high. If we break all -time high this year, that can mean $100 ,000 plus this year or by early next. But he also clarifies here when someone asks, looks good on the track here. Are we aiming for 50 ,000 plus this year? And then he clarifies, 70 ,000 plus this year in case I wasn't clear before. So there you have it. And he also says, we've got the strength in our green zone held around the 29 ,000 price level. That may very well have been our bottom. And that being said, this move up so far still looks corrective and we have a sharp rejection on the lower timeframes. So do not be surprised if we chop around for a bit longer before the mega move up starts. Don't lose sight of the big picture here and don't flip bearish if we move down a bit from here. Either anything above $25 ,000 is a gift. Let me know if you agree or disagree with the analyst. And after rallying past the November 2021 all -time high of slightly above 69 ,000, the synonymous analyst expects Bitcoin to meet the first resistance at a price of over $100 ,000 as I outlined from him in that tweet. So there you have it. Let me know if you agree or disagree with that bullish price prediction of $100 ,000 plus. And now for the moment you have all been waiting for. Welcome to everyone just joining us. It's good to see we are strong and solid on the different networks. I'm just refreshing my screen to make sure the stream is still good over on Rumble. We are, we still got 65 people watching live on Rumble and we have almost 200 people watching live on YouTube. That's what's up and shout out to everyone. I appreciate the continued support. It means the world to me. And if it wasn't for you guys, I guarantee you I probably would have never received my YouTube channel back but it's because of the uproar everyone in the community made. That's why I believe I was granted to have my YouTube channel back. Here's what I am talking about. Let me break this down for you right here. So as you can see, a shout out to the Bitcoin therapist. He put, Bitcoin content creators are being banned from YouTube. Here's everything you need to know. In fact, I am the author of this. He reached out to me the other day and I put together this thread which he published officially today, roughly about an hour ago. It's already getting a lot of views and a lot of traction, 19 reposts. So be sure to also repost and spread the word. So here's the turn of events. I'm gonna read it all for you. It's very important. On July 31st, 2023, YouTube terminated my Crypto News Alerts channel which consisted of roughly 1800 videos and six years of content under false pretenses for alleged repeated violations of harmful and dangerous policy which is categorically false. Then after I read the horrific email from YouTube with the subject line that said, Crypto News Alerts, we removed your channel from YouTube, I immediately went to X, formerly known as Twitter, and tagged Team YouTube in a post asking for help. They responded, first step is to fill out the appeal form and that, once the policy team takes a look, you'll get an email outlining their decision so keep an eye on your inbox. So I immediately filled out the appeal form explaining the situation and a few hours later, Team YouTube announced their final decision to my appeal policy in a post on X which read the following. Let me read this to you. Update, our policy team confirmed the termination was correct. You can read through this article for more info on harmful and dangerous content policy that led to our decision. However, ironically still to this day, Team YouTube never sent me the email response to my appeal outlining their decision as they initially said they would. Even after several requests and reminders, I tagged them in as outlined here and instead, Team YouTube announced their final decision on a public forum, X literally harming and damaging my reputation, my brand, my content and my business by slandering my content, claiming falsehoods about my videos which are severely misleading and outrageously false. What gets even more scary is the fact Team YouTube has been attacking other Bitcoin content creators as well. For example, Plamen, who is the voice of Bitcoin in Bulgaria and had the same situation occurred and suffered the same fate as he shares here. I had the same situation, his channel of three years and 23 ,500 subscribers was terminated with no strikes, no warnings. He just woke up to his channel being deleted which really, really sucks. Now also note that the Kaiser report was also disgracefully purged from YouTube which still to this day is the greatest financial news show to ever exist and credited with the very first international TV mention of Bitcoin back in 2011, Max Kaiser literally called Bitcoin the biggest story of the decade, quoting Max right here. YouTube took down 900 hours, 13 years of work including the first extensive multi -year international coverage of Bitcoin of the Kaiser report because we reported on some inconvenient truths and deep rooted corruption about the US economy and banking system and the Bitcoin community is obviously fed up and outraged by the pathetic actions of YouTube unjustly terminating Bitcoin content creators off of their platform under false pretenses as outlined here, you can see people are saying this is a total disgrace, what in the world is going on? In fact, the Bitcoin archive, shout out to him with over 1 .2 million followers on X made a post about the recent YouTube termination purges on the three Bitcoin channels referenced in this thread with no plausible explanation given. The post has already gotten over a half a million views, 2 ,400 likes and probably now closer to a thousand reposts as outlined here and on August 4th, 2023, Robert Kennedy Jr. who is also pro Bitcoin and anti -CVDC as well as the first presidential candidate to accept Bitcoin donations made a post on X announcing, I am suing Google for censoring me on YouTube, hashtag Kennedy 2024 which you can see here on your screen. Now, interesting fact to note, my Crypto News Alert channel first achieved 50 ,000 subs all the way back in 2021 which was two years and 700 plus episodes later now, my channel still only had 56 ,000 subs at the time of termination on July 31st, 2023 which means I was most likely shadow bands ever since then. Viewers of the show would often let me know they stopped receiving notifications about my show even though they were subbed with all their notifications turned on. Unfortunately, I did not have any of my YouTube videos backed up on Rumble so roughly 1 ,800 videos which took me six years and over 10 ,000 hours to create were lost and gone forever. However, I am grateful I still have all the audio versions of my podcast still up on iTunes and Spotify and everywhere you can podcast. In fact, I just signed a new 12 month contract with Spotify slash megaphone days after being permanently terminated from YouTube. If my podcast was in any way harmful or dangerous as YouTube falsely claims, then I wouldn't be on all of these platforms. That's something to think about. Then the following day after being wrongfully terminated by YouTube, I started broadcasting my daily live stream on Rumble because I already knew this was a matrix attack which it all honestly feels like more so than anything else. It appears that YouTube clearly maliciously is attacking Bitcoin content creators who are speaking out about the truth and exposing the fiat money corruption YouTube and their parent company, Google, like all technocracies have certain agendas. But here's for the new update. As of like an hour ago, I got this email. I wasn't expecting it. I am in shock after having my YouTube channel permanently deleted under false pretenses and being suspended off the YouTube platform for life. I just received this email hours ago stating the following. We are pleased to let you know that we have recently reviewed your YouTube account and after taking another look, we can confirm that it is not in violation of our terms of service. We have lifted the suspension of your account and it is once again active and operational. So there you have it. Holla fricking Luya. I can't believe it. I wasn't anticipating it. I honestly believe if we didn't have the pushback from the community, you know what I mean? Nothing would have changed. They already said they reviewed my account after my appeal and they made the right decision, which they announced on X and now 10 days later, they're saying they made a mistake. So I am grateful for YouTube reinstoring my account, but the trust factor is lost. So what did I do? I immediately synced my Rumble account, which is my new video hosting platform to my YouTube account. And I'd suggest everyone do the same if you're a YouTube content creator, because you may suffer the same fate. And if you have it backed up, boom. You know what I mean? No damage done. You can start streaming on another platform. If you lose everything, it's like starting over from scratch, which I thought I would have to do because I lost 56 ,000 subs, which took me six years to curate, literally overnight. So that's the story of the YouTube termination and being reinstated as of today on August 10th. What are your thoughts surrounding all of this? Do you think YouTube will continue to censor Bitcoiners like myself? Or do you think now that we have pushed back that they're less likely to do so? Let me know your honest thoughts in the comments right down below. And don't forget to check out kryptonewsalerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. Huddle. Let's go. Let's go. Let's go.
The Bitboy Crypto Podcast
A highlight from Behind Closed Vaults (The PREDATORY Nature Of Mega Banks)
"The best time to get a great deal on a Jeep SUV is now during the Summer of Jeep event. Visit jeep .com or your local Jeep brand dealer to find the perfect Jeep SUV for you. Hurry in and make this the Summer of Jeep. Right now during the Summer of Jeep, purchasing at 10 % below MSRP on the 2023 Jeep Compass Limited 4x4 or Renegade Latitude 4x4. Not compatible with lease offers or with any other consumer incentive offers. Contact dealer for details. Residency restrictions apply. Take retail delivery by 731 -23. Jeep is a registered trademark. Doesn't it seem to you that banking is becoming progressively worse and it's really happened in the last few years? Well, it's because it has. And this is just the beginning. Do you know how they say the larger banks are too big to fail? Well, unfortunately, for small town USA, the regional banks are too small to succeed. All of the money is systematically leaving smaller regional banks. It's going to larger ones, and it's all by design. This is the beginning of a seismic shift for the future of the banking sector, and it's time to take a dive into the mega bank monopoly. Let's get it! Welcome to BitBoy Crypto! My name is Ben. In this video, we're going to zoom in on the idea that our own government is encouraging the largest banks in America to engulf the smaller banks in a coordinated effort to centralize control. Understand that in today's financial climate, being a smaller bank is like bringing a slingshot to a shootout. We all know that money is power, and if my journey in crypto and politics has taught me anything, it's that America cares about one thing, having control. If you think things got bad in the last 20 years, just think about how much more control they'll have 20 years from now. And narrowing down who gets to control all the money is a great place to start. Now, before we get down into the nitty gritty, I want to keep it real with you. It's complicated as all this is about to get. I want to start off with a very basic concept so you can see firsthand how bad the situation already is. Let's take a quick look at this chart of the largest banks in the US. Does anything about this chart seem suspicious to you? Does anything seem wrong here? Look at the drastic difference between the big four and everyone else. Now, I can prove my point with just this chart. It's no secret who the big four banks are in the United States. JP Mortgage Ace, Bank of America, Citibank and Wells Fargo. And Wells Fargo has over a trillion dollars more than US Bank who's in fifth place. These four banks are the main players in the game, and it's most likely going to stay that way because these banks are the main benefactor and the dilemma our own government created. You should know that all of these banks are defined as GSIBs, or Globally Systematically Important Banks. Basically, they're held to a higher standard because of the risk they pose to the system if they were to fail. They get special treatment to avoid another terrible ending to a nonfiction movie. Alternatively, now that things have worsened for smaller regional banks, the Biden administration wants to change small bank standards so they have similar liquidity requirements to the larger ones. This tougher standard gives the smaller banks less wiggle room. When you pair this with high inflation and higher interest, what you'll eventually get is a seismic shift in the banking world because that standard is unattainable for more banks than you would think, and they're going to reach a point where the only way out is to consolidate. This concept is just the tip of the iceberg. Now, remember that first chart? Now, look at this one. This is a chart of deposits by bank size. How in the world are the small banks going to be competitive when they're getting outperformed this badly? It's like a high school team having to play, I don't know, the Georgia Bulldogs or maybe like another college team having to play the Georgia Bulldogs. They're that good. Believe me when I tell you though, banking is Darwinism at its finest. It's survival of the fittest. So, what do large fund investors think about this from an investment standpoint? We'll just ask Bill Negrin from Oakmark. Watch this. At Oakmark, our view has been that the largest banks have a strong competitive advantage versus smaller banks, and that the natural tendency is for the number of banks to shrink and the big to get bigger. They just have advantages when it comes to regulatory requirements, meeting regulatory requirements, mobilization, fraud control. If you're 10 times as big as somebody else, those costs aren't 10 times as large. Now, I want you to ask yourself, would investors on this scale waste their time investing in smaller banks? Of course not. Why would they? He said it himself. The number of banks is going to shrink, and the mega banks will keep adding zeros. To be fair, the US has more banks than all the other G7 countries combined. So, of course, there will be some consolidation, but when and where will it end? The problem is the standards of banking are what caused all the recent bank failures, and those same standards are preventing the smaller banks from getting larger. It's a double -edged sword. And there's no incentive for the government to find a middle ground. What do you think our government would rather do? Help the little man or continue co -signing to consolidation's decentralized control? I feel like you already know that answer. Now, I'm not exaggerating when I say that these banks are light years ahead of their competitors, and they really are too big to fail. Think of the enormity of advantage the big four has over the rest of the game. It's like playing Monopoly against the banker. They always roll doubles and don't play free parking. Instead, landing on Boardwalk and paying luxury tax out the wazoo. Now, why don't you play along with us and become a member of the BitSquad? Be sure to subscribe, smash that like button and ring the bell for notifications. Also, big thanks to Stake for sponsoring this video. They're our No. 1 sponsor. Check out bitboycrypto .com slash stake. Okay, let's look at the banking failures in recent history. You know, Silvergate, First Republic, Silicon Valley. And now look at that through the lens of how small businesses were forced to shut their doors because they couldn't compete with Walmart. It's the same thing. Look at it through the lens of cell phone companies. Yeah, there are smaller ones out there, but let's be honest. The majority go with either Verizon, T -Mobile or AT &T. It's not supposed to get boiled down to three like cell phones. It's for advantageous your everyday American to have multiple banking options because it forces the banks to be competitive with each other and actually have customer service. Stifling that competition leads to higher rates and less choices for customers, not to mention it sets the standard for anti -capitalism. It will also hinder innovation because smaller banks are more likely to offer innovative products and services to stand out in the crowd. With less banks to choose from, you won't be able to take your money and go down the street, shop for a better rate on a car loan. Unethical banking practices will only get worse because where are you going to go? Who are you going to go to? Do you think the bigger banks have any sense of sportsmanship for the smaller banks? Absolutely not. They don't want competition. This is a win for them. They want to crush them. It's all greed. Back before the sell -offs, the mega banks circled over Silicon Valley and First Republic like vultures. Did you know that JP Morgan's profits in Q2 this year jumped 67 %? Why? Because they bought out First Republic Bank, and in the process, they kept as many of their customers as they could, and not to mention interest rates are higher. One bank loss is another bank's gain. According to the Wall Street Journal, the 25 biggest US banks gained $120 billion in deposits in the days after Silicon Valley Bank collapsed. All the banks below that level lost $108 billion over the same time span. Some people like Jamie Dimon will tell you the worst is over. He's wrong. It's yet to come. Think about this. If the small banks have no choice but to keep consolidating the predatory practices the banks already pull on us, well, they're just going to multiply. Think about how much control your bank already has over you today. Hidden fees, higher rates and bidding over backwards just to get a small loan is one thing. But what about the headache you have to go through just to spend your own money? A bank shouldn't be able to tell you what you can or cannot spend your hard -earned money on. But they do this every single day. Don't even get me started. I can't even go to a normal bank. I really can't. They won't take me. And I'm not alone. Ask Drew about the time his bank didn't want him to take his own money out to buy a house. Ask AJ about the time his debit card got shut off with no warning. Ask Nick about the time they shut down his bank account for no reason at all. When he asked for an explanation, they told him they didn't have to tell him why. I can go on and on and on. Those are just people I know. And I'm sure you've got a personal nightmare story of your own. But the point I'm making here is it already feels like we have very little control in the institutions that were put there to protect our money. They don't respect us as humans. And it's all about the algorithms designed to facilitate the transfer of control. Unfortunately, the smaller banks are going to be forced to continue consolidating, giving all the money, all the power, all the control to the chosen elite. Obvious side note. Of course, they hate crypto. It's the only thing that gives the power back to the people. That's why they're pushing so hard to eliminate it. It scares them. You want to know what scares me more than anything? Regardless, if it's one bank, four banks or whatever with all the control, America's debt is at $32 .6 trillion and counting. Maybe not in my lifetime, but there has to come a moment where we stop kicking the can down the road, when you stop spreading risk around and centralized control. We enter a situation where there's a single point of failure, which would make this 10 times worse if it all comes crashing down. We don't even need a debt ceiling crisis to ruin the US credit system. We're already centralizing all the risk into four players. So how did it get this way? And why did these consolidations happen? Well, I'm sure you remember the 2008 banking crisis that ended in a bailout. Since the government and the FDIC don't want to take another den of that magnitude, they raised the standards for liquidity and put harsh restrictions on what banks can or cannot invest in. Some of you would know this as the Volcker Rule, which was part of the Dodd -Frank Wall Street Reform Bill. You can thank our old friend the banking broad Elizabeth Warren for that one. This rule is why banks can no longer invest in anything that is deemed too risky. Sure, it prevents them from getting wrecked, but it also prevents them from using money to make money. And, of course, who suffers the most? The average Joe. You and me. So what are the banks doing now that they can't take risks on? To answer this, I want you to think back to the days when interest rates were much lower. Remember when money was cheap? It was easy to go to the bank and get a loan if you wanted to go buy a house. Why do you think so many people under 30 don't own homes now? Because they can't. That flexibility is gone. Anyway, back when interest rates were low and money was cheap, there was a lot of extra liquidity moving around the banking system. Because of that, you would see a lot of big investors and venture capitalist money moving into riskier startups and starting new businesses, and, of course, they'll get the money to do that from easier to get banking loans. When the conditions were like this, you would see a lot of uninsured deposits at the bank. Remember, since the banks can't take risk, they had to take safer long -term investments with their money. For the most part, they went heavy into government bonds and mortgage -backed securities, the kind of investments that are long -term and low risk. This move they were forced into making is part of what took them down. When the banks bought those safer securities, they essentially made a bet that the interest rates wouldn't go higher. And unfortunately, we all know what happened last year. Of course, myself, himself, Jerome Powell and the gang spent the entirety of 2022 hiking interest rates to fight against inflation. They spent the entire year creating more problems to combat a problem they created. It was a perfect storm in the worst way for your everyday American. Between higher rates and a tight money supply, people had no choice but to withdraw money out of the banks. And when banks start to see money flying out by the boatload, they get to a point where they have to sell those safer securities they bought with their excess money. The problem was because the rates were higher, the bonds they were forced to sell were sold at a loss. Because Trump rolled back some of the Dodd -Frank rules, some banks didn't have to report unrealized losses. But when unrealized losses become real losses, it became a much different story between taking those losses, bad management and making terrible risk assessments. That's when the dominoes started to fall. That's when banks like First Republic and Silicon Valley had no choice but to sell stocks and borrow large quantities of money from other banks. This caused their investor and customer base to lose confidence and try to pull their money out as fast as possible, especially those uninsured deposits who have more than 250 grand because the rest is uninsured. This right here is a main reason why so many people are siding with the big four banks because even if the FDIC insurance rate of 250K is the same for small and large banks, it would take catastrophic circumstances for large banks to fail, not to mention the government wouldn't let it happen anyways. People know that big banks won't fail, and they're not about to put their life savings into a circumstance where they can only get a quarter million back if the bottom falls out. And trust me, the interest rates, well, they're not quite done hiking yet. This cycle will repeat itself as many times as it has to. By now, you're thinking, is there some sort of plan? What are the regulators going to do? Watch this. This clip here really sums it all up. The regionals are problematic because they keep losing their deposits and have to keep reducing their balance sheet. So for the regionals, I don't think earnings have bottomed. And I wouldn't even think about buying them until I thought that they had. You know, you could traffic a little bit in the larger banks, but the problem is that Michael Barr, who's vice chair of financial services, just said that he's going to raise capital requirements for the large banks by 20%, which would take our ways down by 100 to 200 basis points. There's an irony in this, by the way. All the problems that happened in the banks were in the mid cap banks. The large banks, because of all the regulatory changes, were fine. So what do the regulators do? They go fight the last war and they're raising capital requirements of the large banks. Why? I mean, there's absolutely no reason for it, but that's what they're doing. Do the regulators do anything at all to help out the smaller banks? Of course not. In fact, they intend to raise capital requirements by 20 % for the larger banks, a surefire way to ensure the failure of everyone that's beneath them. It's as if they want to consolidate the power. Imagine that. The man from the previous clip, well, that's Steve Eisman. He's famous on Wall Street. If you've ever seen the movie The Big Short, his character was played by Steve Carell. And, yes, he really did answer his phone in that meeting. Prime losses will stop at 5%. Zero. Excuse me. I have to take this. He must be from Bank of America. All jokes aside here, what he just said in that clip is directly in line with the narrative of the regional banks failing and the larger banks taking over. I agree with him on that. Of all people, this guy knows dumpster fire when he sees one. I agree with him. The smaller banks have no choice but to keep reducing their balance sheets, and that's why they haven't hit their bottom. My opinion differs from him though when he says that there's absolutely no reason for the regulator's large bank reaction to the problems with the smaller banks. I have to disagree. The reason is right in front of our faces. The regulators are raising capital requirements for the larger banks to encourage them to keep getting bigger, and that consequently makes it that much harder for smaller banks to grow. On the flip side, the Treasury Secretary herself, Janet Fellen Yellen, aka the Tweety Bird Monster, will tell you that they're not encouraging this type of activity. Another classic example of watch what they do, not what they say. Now, this clip is my favorite. Check it out. So what is your plan to keep large depositors from moving their funds out of community banks into the big banks? We have seen the mergers of banks over the past decade. I'm concerned you're about to accelerate that by encouraging anyone who has a large deposit in a community bank to say, we're not going to make you whole. But if you go to one of our preferred banks, we will make you whole at that point. That's certainly not something that we're encouraging. That is happening right now. That is happening because depositors are concerned about the bank failures that have happened and whether or not other banks could also fail. No, it's happening because you're fully insured no matter what the amount is. If you're in a big bank, you're not fully insured if you're in a community bank. Well, in all my years of watching Janet no tell and yell and lie to Americans about how she's protecting them, I've never once seen her stumble and fumble over words like she did in this clip. The best part is 30 seconds after getting put in the political equivalent of a stone -cold stunner, she says that her judgment is that the banking system is safe and sound and depositors should have confidence. Hysterical. Then when asked why some banks get special treatment and why others don't, she said that she didn't know and it's up for the FDIC to decide. The links people like Janet yell and go to protect depositors all while simultaneously hurting depositors is astounding. Reminds me of Gary Gensler. And in that lies a part of the problem. Getting a straight answer from a politician is like asking your mom for $5 and she tells you to ask your dad and he tells you to ask your mom and you never get the $5. Lack of accountability in our government has a lot to do with the fact that it's so easy for a three -letter agency to point the finger at another three -letter agency to pass the buck. With this, they all maintain a level of plausible deniability and get to go home and tell their families they're making a difference. What a joke. It's a joke. But wait, this is our money. This is our freedom. It's not a joke. And what's anybody going to do about it? Look, it's as simple as this. Politicians and regulators need to wake up and get it through their heads that small town America needs smaller banks. Where are we supposed to go to get loans of the banks that used to support small businesses? Have their hands tied. And Jamie Dimon has the key. We need that competition for competitive rates, and we need small banks to keep innovating to earn their market share. At this point, with the way things are going for the regional banks to survive, they'll be forced to tighten lending standards, make fewer loans, slowing down the economy for everybody. And now, with Biden's knee -jerk push to heighten capital requirements on small banks, politicians cannot sit there with a straight face and say they're not encouraging the consolidations. I'm also not saying this great consolidation will happen overnight, take years, maybe even decades, let the right people get elected and care enough to prevent it. Don't get me wrong. I'm not saying small banks shouldn't have regulations. Of course they do. Just the right kinds of regulations that involve common sense. Banks should be transparent. They should take stress tests. They still need enough wiggle room to be competitive as well as profitable. Sad part is it would take nothing short of a miracle for the public's faith to be restored in smaller banks. Obviously, everyone wants their money to be safe, so don't blame anyone personally for jumping ship to a bigger bank if they have to or if you're allowed to. But when this happens in droves and the government is backing it, you have to play the tape out and see how slippery this slope really is. So, at this point, other than voting in the polls and with our wallets, there's only so much we can do to hold on to the little bit of control we have left. And we have to make the most of it that we can. First of all, you have to be aware that the landscape is changing. With that, you need to do your part and self -educate yourself and become self -reliant. I don't say it lightly. And if you made it this far in this video, you obviously care about your financial future, but you need to keep going. If you're someone who's struggling or even someone who's just trying to level up, you need to plan out every minute of your day so you can make time to be studying at least three to four hours a day minimum. If you're someone that's got a lot of moving parts, there's no shame in hiring a financial advisor or someone that can help you be more active with your wealth management. Understand that at the end of the day, the big banks don't care about you or your self -interest. It's only about the bottom line for them. So that's why you need to learn as much as you can and take the time to figure out what works for you. With that, don't make the mistakes, the same mistakes the banks are making. Don't put all your eggs in one basket and expose yourself to the risk of having a single point of failure. You cannot stress how important it is for you to diversify. Split everything up so if one vertical fails, you're still well above water. Consider buying gold, buying stocks, holding cash, buying digital assets like Bitcoin, or even ammunition. If diplomacy fails, water and ammunition will become currency. It's clear I've been hanging out with Drew too much, but, hey, he's right. He's also kind of scary, but I like him. He's a good guy. At the end of the day, your financial future is up to you. So I wish you the best on your journey and your never -ending pursuit of financial education. That's all I got. Be blessed. BitBoy out.
Tech Path Crypto
A highlight from 1197. Elizabeth Warren Demands More Crypto Taxes Pro-CBDC Army vs Stablecoins
"So, Elizabeth Warren up to her antics again, this time using taxes, using CBDC, and many other tools to her disposal to try to take a position against crypto. We're going to be breaking down all of this for you guys today. My name is Paul Baron. Welcome back into Tech Path. I want to get into the first story here. Democrat senators want Treasury, IRS, to pick up the pace on crypto tax rules. So a few things that I want to break down in this article so you kind of know who the players are. I'm going to zoom in on this one. Elizabeth Warren, Bernie Sanders, Robert Casey, and then Richard Blumenthal, all involved in this. The idea is pretty simple. Treasury and IRS have until the end of the year to finalize new rules to help close the estimated $50 billion crypto tax gap. Now, this is something we'll break down because this is not necessarily the real scenario. It's what they're proposing out there. The other thing they want to put in here is, without quick action, your agencies are at risk of failing to meet congressionally mandated deadlines and the implementation of the final rule. We urge that you act swiftly and implement strong crypto tax reporting rules for cryptocurrency brokers. All of this, which we'll get into, one of the things the industry has said has become very antsy waiting on guidance, particularly with regards to the IRS defines a broker. Industry observers have claimed that the broker definition is very broad. We all know that because it could include miners and also software developers. That's another problem that already exists in crypto of who is a broker. And then secondly, or additionally, what are we hoping for? An industry perspective that is updated with the 6045 regulation, which basically gives different qualifications based on type of activity. The other thing they break down is it'll hopefully make it clear that not everyone effectuating a transfer of a digital asset would be subjected to a broker reporting. So this gets into some of the details of when taxes do apply, and we'll show a little bit more about this. The letter, the senatorial letter, comes days after the IRS issued new guidance update in 6045 regarding crypto staking, which is the other part of this that's pretty big, in which the agency ruled that staking income, regardless of the gains are realized, will be taxed as income. So you have to think about that for a second. You're staking ETH, you get ETH in return. You haven't sold ETH, but you're taking that as an income. That is the argument I think that everybody, of course, is up in arms about. If a cash method taxpayer takes stakes cryptocurrency native to a proof of stake blockchain and receives additional units of cryptocurrency as rewards, which is what happens here when the validation occurs, the fair market value of the validation rewards received is included in the taxpayer's gross income. So if you are staking, that's a problem. The interesting thing is that you do not take tax gains if you're putting that in a money market and you're getting paid interest. That's not gains until you exit those kind of scenarios. So this is an interesting aspect of how the IRS and how Elizabeth Warren is really putting pressure on it. Another point I want to get to here. This was coming from the 2021 Infrastructure Investment Employment Act, which is where all this came from. But basically, it said if we do not act quickly, that is, if the Treasury and the IRS do not implement these new rules in a timely manner, we risk missing out on roughly $1 .5 billion in tax revenue for fiscal 2024. At this point, you should not give this chance to tax evaders, which is what they're calling crypto people. And I think this is something that people don't realize just how much taxes are being paid by people in crypto. In fact, countries with the most taxpayers currently in cryptocurrency, United States leading the way, number one, Japan, number two, Germany, United Kingdom, and Austria. So you can kind of see we're already handling this because crypto is like any other really asset out there if you think about it. If you take a gain, if you sell an asset and you take a gain, that's a capital gains tax. And it applies to capital gains rules. Those are the same kind of scenarios that play into it. What I don't necessarily think is going to be popular is for them to continue to reach in to these unrealized gains, like taking unrealized gains and taxing them in any other corporate infrastructure, just not necessarily the model in which this plays out. The other thing that income tax is payable on is you're getting paid in crypto. That's revenue. So you're paying tax on that. You get an airdrop. That's a new asset you've received. Getting taxes on that. Staking rewards. That's the other scenario that plays into this. DeFi interest. Mining rewards and then even referral bonuses. All of those are income taxable at this time. There was a couple of things here in a report from CoinLedger that I want to showcase. And this was really kind of going through the people in their survey of who understood when a taxable event occurs. So 65 % of investors correctly identified that selling cryptocurrency is a taxable event. Now you have to sell it for a profit, of course. If you sell it for a loss, that's not obviously a taxable event. But only 38 % of the investors correctly identified that a crypto -to -crypto trade is a taxable event. So this is still questioning and also it's still not completely clear so that the IRS, but also even your tax preparers understand really what's happening out there in the place. And I think, again, this all goes back down into regulation, which will flow into the tax code and many other aspects. This is kind of interesting right here. This was further from the CoinLedger report. 50 % of non -taxpayers don't report because they haven't made a profit currently in cryptocurrency. You have to remember the last two years, really since 2021, almost anybody in crypto, along with other assets out there, have been in the negative. Right now, haven't made a profit, so you're not going to be paying taxes on that. I didn't know I had to report. Some people said that. I don't understand how to report, 12%, and then I don't want to pay taxes, 7%. So that should have been larger. Government doesn't know about my cryptocurrency. Okay, those are the bad guys right there. So the likelihood is if you guys are watching our show and maybe you're brand new to crypto, it's treated like any other asset class. Doesn't have any really differentiation. It is money. If you're taking it as revenue, if you're taking it as income, if you're taking a sale and getting profit from it, you're going to be able to take taxes at that time. Those are taxable events. The other problem is that it's not like an investment if you do lose money where you get to use that as a tax loss. So that's another problem of how this could. Now you can do some tax loss harvesting, of course, obviously you should get with your own CPA to understand how that works. I want to go to a clip here because the clip will go into a little bit about where, and we're kind of transitioning out of taxes into CBDC, but where Warren stands on CBDCs. Let's know what she said. So that's not so hard on stablecoins. The harder one is what do you think Bitcoin is about? If you think it's about being able to transfer value without having to go through banks, and little side note, I think banks have done a really bad job of a lot of the things they're called on to do. Yeah, the biggest advocates of Bitcoin sound like you. Yeah. Meaning they want to break up these big banks have been terrible, right? That's exactly right. And they've cheated consumers and they've kept prices high and they're slow and they won't cash a check. Five to seven days to three to five days. There you go. And it was a huge victory. Huge victory, right? That they only held onto your money for five to seven days. So a lot that banks do wrong, if you think we could improve that in a digital world, the answer is sure you could. But in that case, let's do a central bank digital currency. Are you there? Oh, for a central bank digital currency? Yes. All right, so you can see she's very pro central bank digital currencies. If you look at Warren Davidson's tweet right here, in America, CBDC should be banned. This was one option, a jailable criminal offense declaration of war and implemented. Obviously that was his kind of poking fun at, but banned is the big one is that we shouldn't use it. This is a big scenario that plays out, has been playing out for quite some time on the CBDC front. So let's just understand that CBDCs, if we do get to that, and I think this is one of the reasons that obviously crypto in general has been more popular and started to become more popular around the world, especially in countries that already have problems with their fiat. And I think that is going to be an issue that will continue to face here in the U .S. of how that does play out on a digital currency. If you look at what's happening in China, obviously their social credit system is all tied to eventually to the money. So definitely a problem. Now the other things that play into this is that there could be some scenarios right now where Gensler is going to start trying to do some other things to try to deflect maybe a possible loss that could be coming at him. One of the things that's happening right now, this of course, hacks crypto founder used investor funds to buy almost four and a half million Black Diamonds. This is the SEC. So this again is nefarious actors like Richard Hart and others that have been in the crypto space. Listen, this is not the only place that has those kinds of actors out there, but this is a good example of just how the SEC is trying to go in and deflect a little bit. Here was one of the things they charged, SEC charges 18 Utah defendants with a $50 million crypto fraud scheme. So again, Gensler and the SEC are on the warpath right now. And I always wonder why, because these are small fraud. And I look at this, they're definitely not a Binance, they're not an FDX, and they're definitely not a Coinbase. So why are they going out after these very low hanging, I'm sure they should, but it's almost making mountains out of molehills in the kind of scenario that this is faced into right now. Are they maybe setting up for deflecting off of a potential big loss, such as possibly an approval through the House on these crypto bills? Just to give you an idea of just how close Gensler is to the regulatory and the political landscape, look at the timing here. January 12th, this was 2023, he sued Genesis. During that time, we had the House Financial Services Committee announcing their subcommittee on digital assets, so nice timing there. February 12th through the 14th, Wall Street comes in and says they've issued a Wells Notice for Paxos. At the same time, you had a committee hearing on crypto crash, why financial system safeguards are needed. Then you had this one, March 19th, he goes in and he publishes the op -ed in The Hill, and then you had the Senate Ag Committee saying we're going to do these crypto hearings. Then he does April 27th, and you can kind of see it just all ties in to activity that's happening in the political forefront. He is coming in, or the SEC coming in, and timing is everything. So the reality is that all of this is going to play into the hands, I think, of the industry and also to the lawmakers understanding what the SEC's overreach has been. So it's going to be one that will probably play out in a very short period of time. I want to go to this next clip of Ron Hammond from Blockchain Association. Listen in. At least in the market structure bill, which again, got more votes than the stablecoin bill from Democrats, which blew everyone's mind in D .C. No one expected that to have ever happened. We were expecting like four or five. We had six Democrats join. Stablecoins were expecting 12 or so Democrats to join. We only got five. All right. So simply kind of taking a little bit of a victory lap of what has happened here recently on the House floor in terms of the committees and getting ready to send both of these bills to the House for a potential vote. This will happen in September. Let's take a listen to this next clip on Hammond on Gensler. And I think the market structure vote in particular just shows how much he's lost his own party in terms of buying the narrative that, A, the status quo is fine, B, there's no need for legislation, and three, he's doing a good job on the enforcement end. And we saw that on all three arguments from different Democrats fail each time. And I think the fact that there's six Democrats who bucked their own party, who bucked the SEC and said, yeah, we're going to advance the market structure bill forward. Even the House Act Committee said, yeah, we're going to advance this bill forward, too, without any opposition recorded. That's huge. All right. So I think the play out on this, you know, when you look at the current landscape right now of what Warren's attack is, the crypto army, you look at the positioning that really D .C. is doing currently, and now could this play into the political landscape for 2024? Yes, it could. But the bigger play here, I think, is still the regulatory front. And that means that either the SEC is going to lose some of its power and the CFTC is going to come in and start to have a little bit more divvy up of what digital assets and how they're controlled through these government agencies. But really, how does this play out maybe into the future? This note right here from the block, they were talking about the commission being the SEC has so far received 52 letters about these proposed funds. This is in reference to ETFs, with most of them expressing support. So it's very possible that we could see an ETF actually get passed here. And you've seen some of the things we've talked about here on the channel before in the last couple of weeks, you know, everything from the Bloomberg team and so on around the potential of the ETF getting passed, the Bitcoin ETF. If that does get passed, that would be huge for the market, would absolutely legitimize what's happening in this space. And I think it would probably, in most cases, put so much pressure on D .C. that they have to move to going in and actually getting some landscape in play. Most of the comments against the approval appeared in multiple letters from a business consultant calling themselves the due diligence. I think basically this is a bunch of banks tied in behind this and this was the counter argument to what an ETF should be. So there is full political folly in play here and it is happening at, I think, light speed right now, much faster than what I anticipated even. One of the last things here is the comment period wraps up next week. So the SEC accepting letters for the final funds around August 11. So meaning that Gensler is getting ready to have to actually make some decision either for or against or a delay, which is probably what most likely will happen. But the good thing is that, like I said, there's going to be a potential right now which keeps increasing of a potential approval coming from some of the best ETF experts in the world that are analyzing where the situation is and kind of how it's going forward. Additionally, you've got anti -crypto movement now escalating Congress's assault on privacy. This is where a lot of people are starting to look at the idea of cash and just personal privacy, which is one of the biggest issues really around the world. And if you think about just how important that is, this would give you an example, cash matters, free citizens entitled to privacy and the protection of their data. In the UK, 74 % of people say cashless society would take away the people's right to choose. In the U .S., it's 73%. When it comes to purchases, personal preferences should remain exactly that, simply meaning that with a CBDC, we all know what that means, the control of the cash, control of what you spend on, then it gets into the control of what you spend on based on your political viewpoints or other aspects of your life that all start to play it. So cash does pretty much empower citizens to become capable of kind of voting with their wallets. And I think this is a very critical scenario that's playing out right now. CBDCs will be a big part of this. So you've got CBDCs happening, you've got what we're going to be dealing with on a taxable side and then the legislative. So all of this happening right now, literally in 2023, and it seems to be coming to a head very quickly. I think as we move forward, there's going to be two things that come out of this, and that is how these bills start to move their way through Congress and eventually, if we do get approvals, to the president's desk. Here's of course, the Senator Lummis and Gillibrand bill. Just another piece of legislation that is making its way through. Most likely, this is one that will not happen, mainly because of the association and the collaboration, I think, with the ICC. The bill involves a broader swath of agencies, so this is kind of interesting because it gets into the Office for Foreign Asset Control, the FTC, OFAC, FinCEN, et cetera. The SEC is provided also with something that a section -by -section overview claims resolves a long -standing issue with the SEC custody requirements. Probably the bill that will not make its way through, which gives us back to the scenario of the two bills that are currently on the floor that most likely will make it. So good news, I think, in general, bad news for the crypto army and CBDC is still coming to a head, but I think the good thing here is that, in many cases, it's like bad PR is even good PR, but the point is that the industry, lawmakers, finance community, they're all talking about crypto, and in the end, that is good for the asset class. One other thing that did happen, which is kind of interesting, this was a letter to Tim Cook, and we did a full video on this, so I won't go into the detail of this, but mainly it was trying to get Apple to get less and less constrictive on asset classes that are making their way through apps or innovation that are involved with blockchain. One of the things that they got into was purposely limiting choice and stifling innovation at the expense of user experience. This is a problem that Apple kind of faces for quite some time. And we broke down a lot of this, but the big deal is this right here, responding to the following questions no later than 5 p .m. on August 14th. So this is another issue that is coming to a head here in August of Apple having to actually address what's happening in Capitol Hill around the blockchain and the crypto industry as a whole. So again, just another big benefit, I think, for where this market is going. I want to go to this next clip here, and this is again Ron Hammond, on where he thinks Apple's position is. Listen in. But this is a bipartisan letter from the leaders of the subcommittee on innovation. That sends a message that says, look, I mean, Apple's getting hit on a number of fronts, but this definitely sends a message saying, you know, hey, look, you're on the clock right now. We're looking at you. So that committee is going to be taking more of a role over time because we've seen this talk and this narrative of crypto really shift more and more in D .C., at least, talking about the tech itself, which is perfect, is exactly what I want to talk about, the innovation and the technology itself. And that's the Energy and Commerce Committee. That's a bipartisan letter that sends a pretty good warning shot to others in the industry saying, look, you know, crypto is here to stay. We have concerns that the U .S. are probably blocking them out. And that's not good on our watch. All right. So I think this is one of those things, again, that the thwarting of innovation is a concern here in the United States because it's one of the things that pretty much pushed the U .S. ahead of the entire planet when it comes to really capital growth, entrepreneurship, how we grow our own economies, but more importantly, our position in the hierarchy of the global structure in terms of just being the global power. And I think if you consider that, you have to look at what's happening in Europe. And with the EU, markets and crypto assets regulation, this is MICA, this is a regulation that's pretty much been in place, and it's now starting to take form. And one of the things that you have to kind of look at here is their consultation package three. These are all actually happening now. Qualification of crypto assets and financial instruments, monitoring detection, notification of market abuse, investor protection is happening, you can kind of see the things there on reverse solicitation, policies, procedures, all that. System resilience and security access, all that is building. Mainly what is going on right now in MICA is they're prepping to get all of this regulation in place so that they can roll out this program. And when they do, it is going to put the EU at the front and center of one of the biggest asset classes that has ever been created. This is the power of what crypto and blockchain is bringing to the planet. And that's why I think we are seeing all of this scrambling going on here in 2023 in the U .S. Look at the timeline here of MICA. June hits, publication goes out. July, the consultation package one already rolls out. October of this year, we're going to see package two. And then by Q1, that's when that consultation package three goes into play. And then we have early entry into the application and then the rollout by end of next year. So this is pretty significant. Further into their rollout, this kind of, let me kind of zoom out on this a little bit. This shows more background on all the transitional measurements that are going to take place. And this looks complicated, but really what it simply means is these are the deadlines that they're trying to meet to get all of the organizations that are applying for regulatory position in the EU into play so that they can go into the markets with all of these things in a legal way. And I think that is what is interesting. I think they're going to stay very sharp on these timelines because they don't want to look stupid. And right now, the world is watching. Everybody's looking at this. Asia's watching this now. The U .S. is pretty much on a big race with it. I want to go to a next clip here. And this next clip is a little bit more about the BRICs, now why the BRICs matter. And listen to this one. This is an important one. Yeah. So BRICs is a collection of countries that are trying to find an alternative to what they see as the hegemonic dollar based U .S. run global economy. So BRIC stands for Brazil, Russia, India, China, South Africa. But what happened in the wake of the Ukraine invasion is that the U .S. seized Russia's presumably to try to set off a banking crisis. Now, ironically enough, for separate reasons, our banks crashed. But anyway, that didn't work. But the problem, yeah, the problem is that every country on earth saw that happen. All right. And you've got now all these countries that they were never really hostile to the U .S., but they're starting to wonder now, could they come after me? Could they try to crash my banks? But at this point now it's accelerating. And so they've got a meeting coming up in August. And one of the items that may or may not be on the agenda is the prospect of a gold backed BRICs currency. What I think is interesting is that if any country did gold back a widely used currency, that would I mean, it would be catastrophic for the U .S. dollar. Right. That would give the world an alternative sort of payment rail that is even stronger than the dollar is today. All right. So hopefully you guys are seeing how all of this is connected. You go from everything that Elizabeth Warren is doing on the legislative front to basically tax Americans, kind of setting up the scale of what and how this asset class is going to be dealt with, to how we're going to control the digital dollar, which is the CBDC, and whether or not FedNow will play into that in the future. Then you tie into all this regulatory framework. And then lastly, but not least, is BRICs and their importance on the global front. If you look at this tweet right here on World Statistics, GDP at purchasing power parity of the world. Here's the G7. You can kind of see U .S., Japan, et cetera, all the way in there, 45 percent 1993, all the way down to 2028, around 27 percent. The BRICS nations, all the way down to 2028, they will actually accelerate over the GDP of the G7. This is pretty significant because all this was, again, projected by the IMF, the International Monetary Fund. One of the things around this is whether or not, and St. Auge talked about that, Peter, the guy that we just did a clip on, he talked about the importance of this gold -backed dollar or BRICS currency. If that were to occur, that would be, as he said, catastrophic for not only the U .S. dollar, but I think catastrophic for the globe because we would see a shift in power pretty quickly. So here's the alliance right here. This is a scary picture. BRICS alliance will discuss the usage of local currencies for cross -border transactions in the upcoming summit in August. Now, the good thing, the good news, if there is some, is they're talking about using local currency as opposed to gold. Had they used gold, that would have been a huge blow into, really, the future of the U .S. dollar, and they still may go that direction, so you have to be considering that. Again, why is it important to be investing in cryptocurrencies or digital assets? We've just painted out a picture for you and the reasons why all of this flows up in a very interesting domino effect toward how just monetary systems are going to be run in the next 100 years. Stablecoins' potential counter to de -dollarization, that's a big part of this. So in this particular scenario of this article, people familiar with the talk said that the last moment the White House National Economic Council, this was Lael Brainard, dumped cold water on this stablecoin bill saying it didn't put federal regulators in a strong enough role. And remember, if you'll recall, we did a video on this where, of course, Patrick McHenry and Maxine Waters were negotiating that. And there seemed to be an agreement prior to going to the vote. And then at the last minute, Maxine Waters pretty much got the phone call from the red phone and that was dislodged. And then, of course, McHenry went to the floor with what was the old bill that did not have all the changes in it. So again, a lot of politics being played out right here in D .C. And again, this is very important because of the global position and what we are trying to do to essentially compete at a very high level. I want to close this out quickly with our last clip here. This is just the stablecoin timeline from the Blockchain Association listening. It does, unfortunately, hinder it a little bit, but I've had conversations with staff and members of Congress after the fact, and they seem very gung ho in trying to resolve this issue before the whole entire House votes on that bill. But likely what's going to happen is that in the fall, there's going to be a general House floor vote. Every member of the House gets a vote on this, which, again, it's a lot of education. So I've already had some Republicans reach out to me for more the right wing of the caucus saying the stablecoin bill is just a CBDC bill. And it's like, no, it's not. It's nothing related to that. On the left, we're seeing a little more consumer protection concerns and also just the general crypto skeptic concern as well. So August, we're going to have a break and in the fall, you're going to have a vote, right? Exactly. But I think for sure in twenty twenty three, we'll have a general vote on the House floor. And then you can see for yourself what your members of Congress are supporting crypto or guardrails for crypto and which ones say, you know, nah, you know, I don't I think the status quo is fine. All right, so big actions happening this fall and part of this will, of course, will be the stablecoin bill, but also crypto and digital assets in general hitting the House floor. This and as Hammond said, this will be a critical time because the scenario that plays into this right now is it's going to showcase into a lot of what we'll see in the political runs and the campaigns that are being run next year in twenty twenty four. So this could become a little bit more of a voting scenario. So hopefully this has given you guys a rundown. I know it's it's it is a lot here to to kind of digest. If you're new to our channel, we try to break these down. And I promise we're going to try to get these in a little bit, maybe smaller bite sizes. But you can see the breadth of what's happening globally, especially here in the United States right now, because this is a fight for your wallet. And that's why it's so important and that's why we're seeing so much activity happen. You guys are part of the Diamond Circle. Great. Glad to have you in. But if you're not, make sure and join. All you have to do is click the link down below. We we do, of course, a podcast over there, a lot of additional research. I even do additional analysis over there. So it's a great place for you to start here with the PBN team. And of course, it's the best way to get to us. Just go to our website. You can join right there. Of course, if you're not following me at that out there on X, it's just at Paul Baron. We'll catch you next time right here on Tech Path. We'll be right back.
Tech Path Crypto
A highlight from 1195. Microstrategy Buying Up More Bitcoin ETF Probability Increases
"All right. So let's get into Bitcoin today. Let's take a look at the markets and also take a look at maybe some of the influences that are starting to move the market, maybe in short term, but possibly how this may play out over the next few months. My name is Paul Barron. Welcome back in The Tech Path. We'll get into a few topics today, and I want to lead off with this first component, and this is coming from Koby Esi Letter, talking a little bit about the credit rating of the United States. Fitch downgrades U .S. long -term credit rating from AAA to AA -plus for the first time since 2011. So this is a pretty significant move, and if you think about this, you've got a lot of issues kind of running into this. He kind of lays this out. Erosion of governance, rising government deficits, general government debt rising, unaddressed medium -term fiscal challenges. I mean, this will continue to plague a lot of these nation states as we continue to see high inflation, high interest rates, and now starting to affect the over credit. Now, what is a credit system? What does this do for the United States? What does this mean? What this means is that the dollar, U .S. dollar, even though the Dixie is trading fairly well consistently and has been climbing slightly, it means that we could see possibly more and more anti -face in how the current financial system works, which means more people looking at the alternatives. The alternatives are things like Bitcoin and crypto. So this is a big factor of how this plays out. Robert Kiyosaki kind of goes in and says, hey, let's first shoot a drop. Fitch rating downgrades U .S. credit rating and be braced for a crash landing. Sorry for the bad news. I've been warning for this over a year. Fed treasury issue, big corp CEOs obviously think all this is just going to continue. And his opinion is that we're going to see a crash landing. And there's many analysts out there right now that are looking at two versions. One is not a soft landing. The other is kind of this medium to hard landing. Kiyosaki comes in with the hard slash crash landing. If that does occur, what will happen is we will see a pretty significant market correction, which may have some contagion into the markets for crypto. And if that, of course, does occur, then you're going to possibly see Bitcoin in a position where it does see a sharp decline, possibly a new reentry position. I look at this as one of the things, one of the dominoes that has to play for us to get through to the next stage in how these recoveries work. And if you were around in 2008, you got a chance to live through those recessions and understand how it took multiple years to really get the market and the economy back into shape. It's a little different now because we're dealing with something that, of course, like crypto, that changes the dynamic from the average everyday investor. As opposed in 2008, it was a much different. It was more economic based. It was a long road back for Wall Street. All those kind of things have played into that.
The Breakdown
First Republic's Failure Shows the Limits of Fed Bank Programs
"So heading into the weekend, chatter was plentiful, but solid information was sparse, regarding the resolution of first republic bank. First republic has been in the headlines for months. Their stock has lost 90% of its value this year with a huge amount of that drop happening in the week following the shutdown of Silicon Valley bank. Obviously after SVB, investors looked everywhere for where they thought the next banking domino might come from, and specifically they were looking for these mark to market losses on long-term asset portfolios, right? They were looking to find other banks that might have the same sort of duration mismatch, and interest rate risk that ended up doing in SVB, and first republic was pretty high on the list of contenders. Now, first republic, unlike signature, for example, was allowed to take advantage of federal liquidity programs like the bank term funding program, but it is still been, let's say, wobbly at best ever since. Now, all during last week, there were rumors that first republic would be seized and sold by the FDIC. And yet on Friday, no announcement had been made to that effect, and even late on Sunday, no announcement had been made to that effect. last week had centered around the impossible position that government agencies had found themselves in. You'll remember that a consortium of 11 large banks had already provided a $30 billion liquidity injection in the form of a term deposit that would remain locked in place until July. That deposit was just meant to buy time for first republic, which is now shed 100 billion in uninsured deposits over the last few months, with very few now remaining other than the 30 billion provided by that bank consortium. Having already provided funds that group was now in a position where they might need to bear a loss if the FDIC was required to seize first republic and no additional deposit insurance was approved. And it kind of seemed like the Biden administration wasn't keen to come in and bail out first republic in quite the way that people were expecting. And neither didn't appear to be a massive rush to bring the saga to a conclusion. Instead, it felt kind of like a game of chicken.
The Breakdown
First Republic Is a Zombie Bank
"Today is a macro show because all week, people have been watching first republic and asking whether it's the next banking domino. On Monday, first republic disclosed more problems than anticipated in its quarterly report. Block works Jack Farley summed it up in a tweet. First republic banks deposits fell by 40 percent in 22 days. If not for the $30 billion rescue package from big banks, the decline would have been 50 7%. First republic reports that their outflows have stabilized, FRC also expects to reduce headcount by 20 to 25%. Keep in mind FRC is the most high profile and dramatic instance of deposit flight to occur at a bank other than the banks that got taken over by the FDIC. So let's give a few more details. First republic was one of the banks that was subjected to a severe bank run in mid March. U.S. depositors had become jittery about midsize regional banks and first republic fit the bill. One of the ways that first republic had their situation stabilized as compared to signature or SVB, was that a consortium of mega banks provided them with a deposit of $30 billion to shore up their liquidity. The deposit was placed for an initial term of 120 days. First republic's quarterly results showed that the banks deposits had plunged by 41% around $100 billion before accounting for the liquidity lifeline, which is a much worse outflow that had been forecast. The bank added that it had cut as much as a quarter of its workforce, reduced outstanding loan balances, and curbed other non-essential activities. An analyst with web bush securities said, quote, first republic is an idiosyncratic situation in terms of the magnitude of the stress that it's under.
The Eric Metaxas Show
How the U.S. Became the "World's Policemen" With Michael Wilkerson
"This thing called Pearl Harbor, which some people say that FDR knew this was happening, and he thought something like that would be needed to wake up Americans that we have to fight, which is a very, very cynical thing if that's true. Nonetheless, we got involved obviously late and reluctantly in World War II. And then they carries on as you were just saying into the Cold War where we are inevitably involved everywhere around the world. Because suddenly we're powerful and we are now, you know, we all anybody who remembers Vietnam. You know, the domino theory. We've got to stand up for democracy. If we don't stand up for democracy, I mean, it starts in Korea. So I guess the picture you're painting is that we became more and more kind of the world's policemen, more and more involved where we wouldn't have been decades before. Absolutely right. And after World War II, Europe was bankrupt. The U.S. was the only remaining power that could rebuild Europe and took on this role. And of course, in the conflict with the Soviet Union and the Cold War, was focused on creating a world order where American values were translated around the world, defending those values.
The Breakdown
"domino" Discussed on The Breakdown
"Speaking of investigations, a couple little bits of news to catch up on that we hadn't got to yet, giving the banking sectors hemorrhaging all around us. The Wall Street Journal has reported that the Justice Department is looking into last year's collapse of Terra USD. According to anonymous sources, the FBI and southern district of New York prosecutors have questioned former employees a terraform labs, and have sought to interview others. In February, the SEC filed a lawsuit against terraform labs and their CEO Doe Quan, accusing the firm of misleading investors about the risks of Terra USD. The DoJ investigation is covering similar accusations of fraud according to these WSJ sources. Now sources speaking with Bloomberg said that the investigation doesn't stop at do qua and terraform labs. Those sources added that U.S. prosecutors are looking into group chats between prominent trading firms, including jump trading group, Jane street group, and Alameda research about a potential bailout of terror USD as the stablecoin was on the precipice of collapse. The Bloomberg source said the messages were being looked over to see if market manipulation occurred. Ultimately, the bailout did not occur in Terra USD disintegrated into worthlessness shortly after. No charges have been filed against any of the parties and there is no indication at this stage that charges will be pursued. Mike dudas from 6 man venture says they're coming for your group chats and on, staying on the theme of U.S. regulators, the US Treasury is close to publishing a risk assessment report, which will analyze the use of DeFi and illicit finance. Speaking at a banking event in Sydney, Australia on Monday, assistant secretary for terrorist financing and financial crimes Elizabeth Rosenberg said, elicit actors are constantly looking for effective ways to hide criminal activity and the laundering of their proceeds. This is a threat to DeFi services or other elements of the virtual asset ecosystem. She said her team is quote actively working on the report which will be publicly released soon. Rosenberg went on, stating that quote the explosion and pace of developments in the virtual asset space are frankly astounding. This can often mean the industry treats regulations and financial crimes compliance as an afterthought. While governments should be wary of stifling innovative spirit, we can not forsake the obligation to promote financial integrity and protect people in financial systems from fraudsters and criminals. Now, it seems like the main concern was the use of DeFi by North Korean hacker groups to conduct ransomware attacks and steal hundreds of millions of dollars worth of digital assets, which Rosenberg claimed had been used to fund illegal nuclear and ballistic missile programs. Rosenberg said I am intrigued by the potential legitimate use cases for decentralized finance, yet I know that illicit actors are constantly looking for effective ways to hide criminal activity and the laundering of their proceeds. This is a threat to DeFi. Rosenberg also suggested the DeFi could assist in providing financial services to underbanked populations. These comments were a good reminder that before FTX, we were still in the world where most of the regulatory discourse, even though it was skeptical of crypto, was largely focused on this sort of side of things.
The Breakdown
"domino" Discussed on The Breakdown
"The big picture power shifts remaking our world. The breakdown is produced and distributed by coindesk. What's going on guys? It is Wednesday, march 15th, and today we are discussing whether Credit Suisse is the next banking domino. A quick note before we dive in, there are two ways to listen to the breakdown. You can hear us on the coin desk podcast network, which comes out every afternoon and is featured alongside other great coin desk shows, or you can listen on the breakdown, only feed which comes out a few hours later in the evening, wherever you're listening if you are enjoying the show, I would so appreciate it if you would leave a rating or a review. It makes a huge difference. All right Friends, today we are talking about the same thing that everyone in traditional markets is talking about, which is Credit Suisse. Bloomberg's headline Blair's Credit Suisse and fight to win back confidence as shares plunge. And that headline has recently been updated to the even scarier Credit Suisse ignites global market route as banking fears return. So what's going on is Credit Suisse the next domino is it a big nothing burger? Is it something totally different, but it doesn't matter that it's totally different because all people here is bank failure and they get scared, let's dive in. So Credit Suisse has been looking shaky for a while. It's in the midst of a larger restructuring process by which its investment banking division will be spun out and the bank will focus just on its wealth management division. This is actually its second big strategic pivot in the last two years and obviously in the world of banking, that sort of bobbing and weaving isn't necessarily something investors get too excited about. To say nothing of course of depositors. Now right now, the specter of Silicon Valley bank is hanging not only over Credit Suisse, but the whole banking sector. This is despite the fact that Credit Suisse's leadership says there's no comparison, and that the bank trying to get back to profitability after changing its strategy has nothing to do with the extreme liquidity issues of smaller U.S. banks. However, this morning markets were further roiled when the chairman of the Saudi national bank, which is Credit Suisse's biggest shareholder, said that they would not be investing any more money into the beleaguered bank. The chairman of the Saudi national bank said that the biggest reason is just regulatory and statutory reasons that prevent them from boosting their share beyond the just under 10% they own now. Now as prosaic that might be, it obviously still wasn't good news. CSS shares were down as much as 29% hitting a new all time low. They're one year default swaps are also in a distress zone currently sitting around 18 X, the one year CDS for UBS, and 9 X for Deutsche Bank. Now, all in all, there are two big and quite different interpretations of what's going on. Investor in China perma bear, Kyle bass writes the recent collapse of SVB, signature bank, and silvergate bank was a warmup of larger things to come outside of U.S. borders. Credit Suisse's 5 year insurance against default has gone parabolic this morning, given their capital structure they now have three weeks or less to be sold. Greg foss says if you thought SVB caused some unease in the credit markets, just wait until Credit Suisse collapse. The derivative exposure and counterparty risk concerns will be Lehman Brothers like. Regulators need to pay a merger partner since true equity value is negative.
CoinDesk Podcast Network
"domino" Discussed on CoinDesk Podcast Network
"Speaking of investigations, a couple little bits of news to catch up on that we hadn't got to yet, giving the banking sectors hemorrhaging all around us. The Wall Street Journal has reported that the Justice Department is looking into last year's collapse of Terra USD. According to anonymous sources, the FBI and southern district of New York prosecutors have questioned former employees a terraform labs, and have sought to interview others. In February, the SEC filed a lawsuit against terraform labs and their CEO Doe Quan, accusing the firm of misleading investors about the risks of Terra USD. The DoJ investigation is covering similar accusations of fraud according to these WSJ sources. Now sources speaking with Bloomberg said that the investigation doesn't stop at do qua and terraform labs. Those sources added that U.S. prosecutors are looking into group chats between prominent trading firms, including jump trading group, Jane street group, and Alameda research about a potential bailout of terror USD as the stablecoin was on the precipice of collapse. The Bloomberg source said the messages were being looked over to see if market manipulation occurred. Ultimately, the bailout did not occur in Terra USD disintegrated into worthlessness shortly after. No charges have been filed against any of the parties and there is no indication at this stage that charges will be pursued. Mike dudas from 6 man venture says they're coming for your group chats and on, staying on the theme of U.S. regulators, the US Treasury is close to publishing a risk assessment report, which will analyze the use of DeFi and illicit finance. Speaking at a banking event in Sydney, Australia on Monday, assistant secretary for terrorist financing and financial crimes Elizabeth Rosenberg said, elicit actors are constantly looking for effective ways to hide criminal activity and the laundering of their proceeds. This is a threat to DeFi services or other elements of the virtual asset ecosystem. She said her team is quote actively working on the report which will be publicly released soon. Rosenberg went on, stating that quote the explosion and pace of developments in the virtual asset space are frankly astounding. This can often mean the industry treats regulations and financial crimes compliance as an afterthought. While governments should be wary of stifling innovative spirit, we can not forsake the obligation to promote financial integrity and protect people in financial systems from fraudsters and criminals. Now, it seems like the main concern was the use of DeFi by North Korean hacker groups to conduct ransomware attacks and steal hundreds of millions of dollars worth of digital assets, which Rosenberg claimed had been used to fund illegal nuclear and ballistic missile programs. Rosenberg said I am intrigued by the potential legitimate use cases for decentralized finance, yet I know that illicit actors are constantly looking for effective ways to hide criminal activity and the laundering of their proceeds. This is a threat to DeFi. Rosenberg also suggested the DeFi could assist in providing financial services to underbanked populations. These comments were a good reminder that before FTX, we were still in the world where most of the regulatory discourse, even though it was skeptical of crypto, was largely focused on this sort of side of things. Investor protections, preventing criminal use, and for those who are longtime listeners, you'll have heard me say before that the big risk was always that crypto moved in regulators opinions. From those types of concerns, to the systemic risk type of concern, which clearly we have moved into that space now. Anyway, the crypto industry is definitely getting the memo that the U.S. government is pretty actively hostile to them. The frustration was palpable on Tuesday afternoon as crypto industry figures aired their grievances with regulators at an annual futures industry association conference in Florida. Former CFTC commissioner and now head of policy at a 16 Z Brian quintets did not hold back. He said the SEC is completely out of control. They're going rogue. Indeed, Quentin said that overzealous regulators are driving the industry offshore. Quote, the United States has to make a decision about whether or not it will embrace and support innovators in this country. There are jurisdictions that are mindful about this. This is not what we are seeing in the United States and the clock is ticking. Now adding some evidence to this, major crypto friendly bank singham in Switzerland and bank Franken Liechtenstein told coin desk that they have seen an increase in requests to open accounts in the past few days from various jurisdictions, including the U.S.. Swiss bank siba said that they had already started onboarding new crypto clients. They're managing director Yves long champ said that they had seen increased interest quote across all segments in the space from VCs to foundations to trading firms and treasuries. In his view, quote, it's no longer reliable to rely on one banking provider in one jurisdiction anymore, particularly when recent messaging from the regulating bodies has been less than encouraging. For retail customers, Gibraltar zappo bank said that it had seen an increase in demand over the past few days as well, and is currently close to adding payment services in British pounds, as well as USD C options. Their CEO Seamus raq said that the push for overseas banking is a, quote, missed opportunity for the U.S. economy, given that it has the best chance of regulating the industry and helping it mature. Other banks in Puerto Rico Bermuda The Bahamas and Dominica also reported an uptick in new customers. I think the lesson here is that it's not just theoretical anymore that crypto industry participants are looking outside U.S. borders for more of their financial services. There may be some cynics in the U.S. government that think that's a good thing, but I think for those of us here, we clearly feel it's not. Anyways, guys, the situation in crypto banking and in banking in general remains extremely dynamic. I will keep bringing you the news as it breaks. But for now, I appreciate you listening as always and until tomorrow be safe and take care of each other. Peace
CoinDesk Podcast Network
"domino" Discussed on CoinDesk Podcast Network
"The breakdown is produced and distributed by coindesk. What's going on guys? It is Wednesday, march 15th, and today we are discussing whether Credit Suisse is the next banking domino. A quick note before we dive in, there are two ways to listen to the breakdown. You can hear us on the coin desk podcast network, which comes out every afternoon and is featured alongside other great coin desk shows, or you can listen on the breakdown, only feed which comes out a few hours later in the evening, wherever you're listening if you are enjoying the show, I would so appreciate it if you would leave a rating or a review. It makes a huge difference. All right Friends, today we are talking about the same thing that everyone in traditional markets is talking about, which is Credit Suisse. Bloomberg's headline Blair's Credit Suisse and fight to win back confidence as shares plunge. And that headline has recently been updated to the even scarier Credit Suisse ignites global market route as banking fears return. So what's going on is Credit Suisse the next domino is it a big nothing burger? Is it something totally different, but it doesn't matter that it's totally different because all people here is bank failure and they get scared, let's dive in. So Credit Suisse has been looking shaky for a while. It's in the midst of a larger restructuring process by which its investment banking division will be spun out and the bank will focus just on its wealth management division. This is actually its second big strategic pivot in the last two years and obviously in the world of banking, that sort of bobbing and weaving isn't necessarily something investors get too excited about. To say nothing of course of depositors. Now right now, the specter of Silicon Valley bank is hanging not only over Credit Suisse, but the whole banking sector. This is despite the fact that Credit Suisse's leadership says there's no comparison, and that the bank trying to get back to profitability after changing its strategy has nothing to do with the extreme liquidity issues of smaller U.S. banks. However, this morning markets were further roiled when the chairman of the Saudi national bank, which is Credit Suisse's biggest shareholder, said that they would not be investing any more money into the beleaguered bank. The chairman of the Saudi national bank said that the biggest reason is just regulatory and statutory reasons that prevent them from boosting their share beyond the just under 10% they own now. Now as prosaic that might be, it obviously still wasn't good news. CSS shares were down as much as 29% hitting a new all time low. They're one year default swaps are also in a distress zone currently sitting around 18 X, the one year CDS for UBS, and 9 X for Deutsche Bank. Now, all in all, there are two big and quite different interpretations of what's going on. Investor in China perma bear, Kyle bass writes the recent collapse of SVB, signature bank, and silvergate bank was a warmup of larger things to come outside of U.S. borders. Credit Suisse's 5 year insurance against default has gone parabolic this morning, given their capital structure they now have three weeks or less to be sold. Greg foss says if you thought SVB caused some unease in the credit markets, just wait until Credit Suisse collapse. The derivative exposure and counterparty risk concerns will be Lehman Brothers like. Regulators need to pay a merger partner since true equity value is negative. Fiat Ponzi one O one. Now, more sober but still concern take comes from Andreas thano Larsen, who writes, Credit Suisse has been able to withstand heavy deposit flight through the past 12 months with decent liquidity ratios intact. But the bleeding has got to stop for Credit Suisse to survive. Hikes are not positive for banks now. Then again, on the other side of this discussion, there is Tony grier who writes for what it's worth, Credit Suisse has been blowing up my entire career. I'm amazed we're still talking about it. In any case, once again, they're communications are not helping things. Zero hedge tweets, Credit Suisse CEO, we are a strong bank and overshoot all regulatory requirements. Credit Suisse CEO, our liquidity base is strong. Hate to see what a weak liquidity base would look like. Still, my favorite take comes from Doug Bonaparte, who says Credit Suisse, downgraded to credit sus. So I think that what's going on at Credit Suisse is quite obviously very different than what's happening at places like Silicon Valley bank and other U.S. banks who are underwater because of unrealized losses and the shift in the global interest rate regime. However, I don't think that in this environment that particularly matters. I think that people are seeing bank trouble and are thinking about the implications of another bank failing, even if it fails for entirely unrelated reasons. There's certainly some evidence that this nervousness is extending across the banking sector, and that Credit Suisse is giving that a particularly European flavor. A number of European banks were dragged down today by the Credit Suisse news, including society general, B and B paribus and others which are down more than 10%. All told among
The Dan Patrick Show
"domino" Discussed on The Dan Patrick Show
"Podcasts. Last call for phone calls while we learn what's in store tomorrow, Michael silver, NFL reporter says the Tennessee Titans are shopping Derek Henry. I don't know what they want in return for Derek Henry. Seems like the Titans are ready to move on from their quarterback and their running back. Titans are shopping Derek Henry. And I don't know if they're shopping Ryan Tannehill, but you already have maybe your quarterback of the future. Maybe, but Derek Henry is 29. And he makes ten and a half $1 million a year. So he's do that, but it's not guaranteed. If they trade him, they save a little over $6 million. So they already got rid of AJ Brown. That would probably be a pretty good indicator of where this team is headed. You got Ryan Tannehill's contract? Yeah, he made almost 40 million this year. For the Titans. He will make 39 million next year if they keep him 36 million, check that. They can get out and have an $18 million dead cap hit if they get rid of him before the 2023 season, which isn't the worst thing because they have Malik Willis sitting there on a rookie deal. Titans feel like less of a rebuild and more of a deconstruction. Like will you keep letting all your star players go, then what are we doing? Yeah, you're rebuilding there. But yeah, but I don't know what the rebuild part of it is yet. If you're slowly deconstructing what was a good team over the years. So what you're saying is take the wrecking ball to the franchise instead of sort of slowly going and this year it's AJ Brown and next year. Let's get rid of a running game. The year after that we'll get rid of our quarterback. And then we'll get rid of our coach, Mike Brady. And now we're nice. And now we're ready for Caleb Williams. Yes, bully. An AFC south. If you're the Jaguars, you just won the division. The Titans are going the wrong way. The colts are going to probably draft a quarterback and have a rookie quarterback. The Texans will have a rookie quarterback. The Jaguars could be set for the next couple of years. Okay. In theory. Let's see. Gibbs and Virginia Beach. Hi Gibbs, what's on your mind today? Thanks, DP. Not exactly Finch checking in. A couple of things for you today. First, I have to apologize for my comment last week about combine phrases that should be foregone. I said hi motor should fall by the way. So I'd not realizing that you still had high motor t-shirts for sale on the website. Well, we're mocking it. Yeah, we're mocking that. And what was the other one sneaky athletic we're doing that one as well? Draft capital is what I'm trying to stay away from. So there's certain ones there, but that's okay, gives, you're good. We got late first rounder in there that one's doing well. I want to be I don't want to be labeled the next Christian California. So I just wanted to clear that up. Second, I got best and worse for you. My worst is my tar heels falling at home against that other school 8 miles up the road, basically punching their ticket to the NIT, I guess we'll be outside looking in if we don't win the ACC tournament, but hopefully I can root for Asheville or Wilmington. My best is something that Paulie and Tyler, I think, would really enjoy on Saturday. My local hunting community at knots island, North Carolina had their annual hunters ceased, which included smoke meats of rabbit squirrel bear venison, deer sausage, brisket, oysters and frog legs, with libations to boot, open invite for you guys next year. Wow. Okay, well, thank you, Gibbs. Road trip, I was offered pheasant, a guy went out and shot pheasant and then he said, hey, whatever you do with pheasant, he created something with it. I don't know if they're fillets or something, but I've never had pheasant before. I had some good bore a couple weeks ago when I was in Italy. I had a while a boar ragu. Okay. Pretty good. Damn good boar. Yeah. Let's see. Barry and Santa Fe, hi Barry. Good morning, fellas. Good morning, chat. No real great best of the weekend. Maybe my baseball maps. The worst of the weekend was actually Pauly's best Travis Kelce on SNL. He was bad. I mean, the Golden Gate Bridge has more range than he did. And the suit, I mean, this suit had a third sleeves hanging from the waist, covering his junk. I mean, he was, I mean, I liked him when he was natural. This is getting a little ridiculous. Okay, well, thank you. It's buzzkill Barry. I thought Travis Kelce held his own. I did well. Yeah. At least he wasn't yelling at us for not believing in them or picking them. Oh. Yeah, pull. He wasn't Peyton Manning. He wasn't. Well, nobody's paying me. And he wasn't Nancy Kerrigan. He did a nice job there. He looked like he was having a good time. He read the cue cards well, he nailed a joke timing. This day in sports history. Not a lot. Larry heisel of the Minnesota Twins became baseball's first designated hitter in a spring training game in 1973. Highest scoring game in NBA history after that point, 1982, spurs beat the Milwaukee Bucks one 71 one 66 and three overtimes. And then in 1983, the USFL began its first season of pro football competition. A big deal back then. Yes, it was. I covered the New Jersey generals. Yes, I did. I went to a few press conferences at Trump Tower with Doug flutie when he was introduced there. Herschel Walker, let's see. What else do we have here? The most lopsided loss, well, at the time, in Laker franchise history happened on the state in 2014. The clippers beat the Lakers one 42 to 94. Late if they lost by a larger margin since then, this says, at the time, the most one sided loss in Lakers franchise history. Final results of the poll question, seton, and I put up one without asking you, I said, how many games are the same going to win this season? Zero through four or 5 to 8, 9 to 12, 13 plus, 5 to 8. At 5 to 8, 60% are screaming 8 and 9 right now. 34% like 9 and 12, though. That's the next category. People are high. Okay. All right. All right. Let's go around the room, what we learned on this program, Tod, I'm going to start with you, backlash. There are lots of triplet boys a few years back and got a vasectomy. And then he had a baby right before the vasectomy, didn't he? Yeah. His wife got pregnant, right before that. She no counter. Yeah, we've entered the vasectomy era of the Dan Patrick show. Yes. Height weight in vasectomy. Marvin? You said even the tear has even the clown has tears. Yes. Try it again. Marvin? You said even the clown has tears. Yes. Well done. Polling? Tomorrow is quarterback hand sized day in the day. That'll bring up. That'll bring back some memories there. The kids out of school. Could be a bad day for Marvin. Still overpaying for a razor in this economy. That's gross. Dollar Shave Club. Top shelf shave at a regular shelf price Dollar Shave Club available at his store near you and the men's razor aisle. That's it. That's the commercial. Thanks for joining us. Have a great Monday, or at least a good Monday. Talk to you tomorrow. We've all spent more time with family lately. It can feel like old times, but your mind is on the future too. And what you can do to shape it. At sandy spring bank, we work with clients to help them grow and protect their money. With wealth management, trust services, and insurance, so they can enjoy today and ultimately pass along their wealth. We believe real banking is a conversation. Let's talk about your dreams. Visit sandy spring bank dot com slash wealth. Wealth and insurance products are not FDIC insured not guaranteed and may lose value. Hey there, my name is Jodi African, and I'm the host of a new podcast from Ted called good sport. I've learned a ton of life lessons from playing sports from
The Dan Patrick Show
"domino" Discussed on The Dan Patrick Show
"To Denver? Was your dad with you and? Just kind of shake your head. Yeah, more. I think actually this might be the wake-up call because of all the publicity this is getting and look, he's probably getting talked to from Nike Under Armour, not Under Armour, but power aid and all those other sponsors that are just right there. But if he listening, what matters the most is I'm going to listen to you. Like who is he going to they can talk to him, but is he listening? And that's what my fear would be with this is maybe you think you're smarter than what you are. Hey, I got money. You know, I can figure my way out of these things. Nike's got a shoe coming out April 1st. His shoe. People got a lot of money invested in him. And you're the face of the franchise. And I get it. There's pressure that goes along with it, but you're going to release pressure. I don't need you to have a gun on Instagram going live at a strip club with your shirt off. How about we do Pilates? How about we do spin? Something. Yes. If you go back to when we had Johnny manziel on right before the draft, remember he was a fun guy in college, all the party videos and stuff. You talked to him about this kind of stuff. And I can remember all his answers to you. Dan, that was my past. I'm ready to get focused on being a new man, going to Cleveland, doing the right thing. I'm about being friends. He said all the right things to us. You go back and watch that interview and be like, wow, Johnny manziel, he's totally grown up. He told us what we wanted to hear. He did. He did 20 minutes. And he did that to teams as well. Johnny manziel was smart enough to understand I'll tell you exactly what you want to hear. But he kept thinking of his smarter than everybody. And I remember we had somebody reached out to one of Johnny's friends to help him. I had Ryan leaf reach out to him. And he would not accept any help? And I said, you're going to be at 26. It's going to be over. And it was. And nobody cares about Johnny manziel. Yes. Because most of his supporters were like, well, what trouble has he ever gotten in? You know, he hadn't gotten in any trouble. He hadn't gone, so there was very much a mixed conversation around. Does this kid have a problem or not? Well, he had a party problem that we found out later. That he did not put in the time at all. And then when he got to Cleveland, he didn't put in the time. He didn't put in the effort. He thought he's Johnny manziel. I'll figure this out. Now, there are apples to oranges there, because Johnny manziel didn't carry a gun. He wasn't pointing a laser's buddies. I mean, that we know of, but he wasn't doing some of these stupid things. He was doing other stupid things. Like, hey, I need a weekend off. Can I go to Vegas? And he goes to Vegas. There's a red flag right there. That ain't my quarterback. But it's a cautionary tale. We just is. You have it, you think you're invincible. You think you're invisible as well. I can get away with these things. And you can't. It catches up with you at some point, it does. Yeah. Best case scenario is that this is just a turning point in ten years, man, I was just, you know, I was wild at 23. I'll take in two years. When he's 25, I hope he goes, man. You know what? I didn't realize it. Or I thought I could get away with this, or whatever his rationale is going to be. Maybe he just says, I don't know what I was thinking. And maybe that's probably what's going on. I don't know what I'm thinking. Yeah, more. And I think professional athletes sometimes we feel like they're dogs like in age wise, like you're 23, you have to mature. But he's only 23. I know he's doing something incredibly stupid, but he's really got to grow up. Hopefully this would be the turning point. I believe in ja. Well, I don't know him, but I hope others know, you know, I think we met him once and he was nice. Oh, wishful thinking from my part, I don't know him either. Well, no, because I think it was Jalen Rose, who says, I know that he'll come back from this. We don't know that. We can hope that he does, but we don't know that. Take a break. Last call for phone calls, what we learned what's in store tomorrow up to this. Thanks for listening to the Dan Patrick show podcast, be sure to catch us live every weekday morning, 9 until noon eastern, 6 to 9 Pacific, on Fox Sports radio, and you can find us on the iHeartRadio app at FSR, or stream us live on the peacock app. Hey, it's Ben, host of the 5th hour with Ben Miller, would mean a lot to have you join us on our weekly auditory journey. You're asking what in God's name is the 5th hour, I'll tell you, it's a spin off of the Ben maller show, called hit overnights on FSR. Why should you listen picture if you will a world where we chat with captains of industry in media sports and more every week explore some amazing facts about human nature and more. Listen to the 5th hour with Ben maller on the iHeartRadio app Apple podcast wherever you get your podcasts. When you start hearing those sounds, you know spring is coming. And with The Home Depot's countdown to spring, now is the time to get ready with savings in every aisle, like big row premium wood mulch with a new lower price of three bags for just $10. Fight weeds maintain soil moisture and give your walkways flowerbeds and lawn, a well detailed look with red brown or black mulch. Make the most of the season with savings on all your spring projects at The Home Depot. How doers get more done? Offer valid in store on March 5th through May 17th color section barriers by store. Limit 60 bucks per customer while supplies last. What's up? It's Nate burleson and they gave your man my very own podcast. I'm calling it the process with Nate burleson. We're going to talk about greatness on this show. If you checked out our very first episode with Rihanna, how could you not be inspired by her unbelievable journey from teenager and Barbados to musician, fashion mogul, and self made billionaire? That's what we're going to bring you here on the process. I'll talk to a list celebrities, athletes, and visionaries about their process. What steps did they take to achieve greatness? What did they learn along the way? All things we want to know because nobody becomes an icon, a superstar or a Hall of Famer overnight. So if you want to be entertained, inspired and empowered to sharpen your process, tap in. New episodes of the process with Nate burleson drop all year long on the iHeartRadio app, Apple podcasts, or wherever you find your podcasts. What's up? I'm tyrese maxi. 21st overall pick in the 2020 NBA draft. A guard for the Philadelphia 76ers. And I'm doing my very first podcast. Max on the mic. Tyrese. On my show, you'll get an exclusive look at what life is really like. In today's NBA, both on the court and off the court. Off the window, sensational stuff from tyrese maxi. We'll talk about games, catch up with some of my favorite NBA players, talk travel, food, music, who knows what else? What can't this can't do? If you are a basketball fan and you've ever wanted to know what it's like to live out your dreams of being in the NBA, this is your chance. Listen to Maxie on the mic on the iHeartRadio app, Apple podcasts or wherever you go to
The Dan Patrick Show
"domino" Discussed on The Dan Patrick Show
"To lose. What role does his dad play? He's always there, certainly at the home games. Yeah. Is there on the road too? Is that everywhere? And was his dad in Denver? I'm not sure if his dad was indifferent, but I mean, I will say earlier this season. You know, he was there endeavor. He was in LA when they went on the road earlier this season. And pretty much he goes to the majority of the away games. So the thing about his dad is they have a great relationship as, you know, most people can see and he does challenge the job, you know, John will tell you that his dad is his biggest credit. His dad is, you know, his biggest hater sometimes and what I've gathered, you know, just from talking to you over the years, you know, he eat challenge his job in ways, but, you know, sometimes people question, you know, if T is, you know, saying some of the right things to John, you know, from the conversations I've had with the people around them. T does seem like he's, you know, telling job, you know, you know, you know what's at stake here right now, but you know, John, again, he does have your mind of his own. And sometimes, you know, that seems to be the case when, you know, he does things that kind of fall back into his hands sometimes. You got a big story on your hands there. Michael, thank you for joining us. Appreciate you Dan, no problem. It's de Michael Cole. He covers the grizzlies. Beat writer, Memphis commercial, appeal. Well, that'd be an interesting story if dad was in Denver with him. Yeah, the thing I've been thinking about though with team morant is because he's getting a lot of criticism here about is he too much of his son's friend and not being his father. But you know, we can't forget that team Moran also did well enough to get job to this point as a father, right? Yeah. So I can give him credit, but then also, you know, this is when it is really important to understand with the bright lights and the money and everything. Now is when you need guidance, I'm sure that you got it when you were growing up and helped him get to this point. Now is what this is the guidance that's most important. I mean, maybe we're reading a little too much into a guy sitting courtside, you know? Well, I'm going by what guys who covered the NBA. Stephen a Smith, Jay Williams, these guys are around the league and I'm listening to what they're telling me about the relationship and you get to the point where now your son's the breadwinner. Do you look at him differently? Does he look at you differently? And I don't know that, but I think you have to ask these questions because what's at stake. You know, this wasn't something that was silly. This was something that was could have been very, very serious. And that's why you have to ask these serious questions. Before it becomes serious, now you have to ask those questions, and his father, his mother, did a great job. You know, they raised him. He had a chip on his shoulder, nobody wanted to give him a scholarship. Got a scholarship and then I wondered if he had the outside shot to be a star in the NBA. He proved me wrong. But these are things on the court. He can take care of. The stuff off the court, I don't care how athletic you are. You gotta be smart. And he hasn't been smart. But you're only 23. Yeah, I know it's apples and oranges with the accusations and not comparing the two guys, but if you look at Michael Vick, Michael Vick was the most popular, most popular player in almost all sports, but definitely in football, and I wonder if Michael had gotten in trouble for something smaller, a couple of years before the whole dog fighting thing broke, would that have been a chance for him to get away from that. But I don't think he looked at dog fighting the way we look at dog fighting. He grew up in a culture and Mike explained that. Once again, I went to prison with Michael when he, with Tony dungy, and he was proselytizing with these inmates. He was telling them, hey, don't do what I did. He was trying to have them have some kind of awake awakening here. But in his mind, Mike didn't look at he didn't look at dogs the way we look at dogs. Like this was a sport that he grew up with. Of course, it's wrong, and he went to prison for it. And he is, you know, since regretted that and certainly done a lot of things to try to help with the dog community. Even had to ask permission to be able to have a dog for his kids. And I just think you get to that point. It's different than if you said that John morant grew up in this environment. Then okay, I understand that you could be there with your guys or everybody carries a gun. Jalen Rose, who I have great respect for. Jalen, on the broadcast, said, look, I've been there. But Jalen didn't have a father growing up, came from inner city Detroit, and he said, look, there are people who wanted to kill me. And I'm there with the gun. You know, I'm that kid and the lights are brighter on you. But he eventually got out of that. And he realized that if I stay in this world, I'm not going to survive, or I'm not going to succeed. And that's what John Moran has to understand is somebody who will tell him when he's wrong. And hopefully he's dead, has his ear, or he'll listen to that. Because if not, this is going to be a cautionary tale. And that's why I'm not condemning him. He did something stupid. We've all been stupid. When we're young. But you can make, you can do something positive here. Let's do it before something happens. And at somebody who covers the NBA said last night, if I know you have a gun that's one thing, but if you show me you have a gun, it means something different. It's a different language to different people in different communities. And John morant showing he's got a gun on Instagram. Live is just irresponsible, but it could be worse. It could be something where somebody gets shot. And that's the thing I think most people are because he's a story to root for. It really is. But he's not helping his story at all. Yeah, Mark. Yeah, I think that investing in security is just so important because obviously he is a target or most professional athletes are, but I think that could just save you so many problems. You've seen that over and over again with different athletes carrying guns and shooting guns and things like that. I think security is higher security if you go to Denver and you're going out. Higher a driver. If you're going out, those are things that you have the money and then they can be the people who are going to protect you. If you need that. But you don't, if you're going to a strip club and you got a gun. Why are you going to the strip club? Like, why do you need to carry a gun in Denver? Those are the questions I would certainly love answers to. How'd you get the gun in Denver? Did you take the gun
The Dan Patrick Show
"domino" Discussed on The Dan Patrick Show
"Fairly Dickinson. UNC Asheville, Drake and kennesaw state. Marvin? Best and worst of the weekend. Best of the weekend, Caitlin Clark, with the triple double in the Big Ten title game. They shoot her in college. Well, bar none. She is the best shooter in college basketball. Worse of the weekend, you're San Antonio spurs gave up a 142 points. To the Houston Rockets. Yeah? And usually it's you score you have a career high against the rockets. Because defense is optional with that franchise. Pauly, best and worst of the week. I'm going to go Liverpool 7 nil of our Manchester United. What happened to Manchester United? The rubbish as they say. Man, you. And then I'm going to bollocks. I'm going to give my second best of the weekend. The Travis Kelce on SNL. This guy is, you know, he's not an actor. He's not Peyton Manning, who's done like a thousand commercials. He pulled it off. He did a good job. Like every sketch I watched the whole thing, every sketch was pretty good. He's got a lot of personality. Yeah, he has confidence he was having fun when he was nervous. He had fun with it and his brother Jason Kelsey was there in the crowd. They had fun with that. They did a bunch of those tape skits that were really well produced and funny. He was in a lot of stuff and he really nailed it. Good job bye. Yeah. What was that catching Kelsey? Didn't he do a reality show where he was dating? He did point that out too. Catching Kelsey. Let's see. What else do we have here today? We got more context. Hi, Mark. What's on your mind today? Hi, Diane. Hey, Mark. Yeah, your caller earlier about the vasectomy. I've got an update about resuming activities. There you go. So my wife and I had surprised when so like a good father, I make an appointment to have a vasectomy done. And while I'm laying there, I know the doctor partially am I so we can not resume normal activities. He's like, oh, oh my gosh, don't do it in the waiting room. Wait, they just ask you they didn't demand that you didn't do anything in the waiting room. He's a polite, he's a gentleman. Okay. All right. So yeah, so later. So there's a lot of attention going on down there this day. I mean, my wife's friends are applauding me for doing this. I mean, it's just a lot of attention. So, you know, guys, we don't need a lot of attention down there because something can happen. So later, I'm talking to the wife. I'm like, you know, doctor said, we're good to go. Man, not sterile for like three months, but we're good to go. And we worked it out. We worked it out. So about 8 hours post-op, you're good to go. According to my doctor. All right. Thank you. Thank you for that update, Mark. Yeah, pulley. You still got the little wristband out with your name and your blood type, 8 hours after the hospital. Go time. Anybody have a vasectomy in here? Anyone been asked to? No. Nope. Not even not even something that comes into my mind. Yeah. Don't even think of it. Yeah, more. Same. Okay. Rich in LA. If you were asked Marv, what would you do? I'd probably, I'd think about it. Well, that's nice. That means no. Oh, okay, then the answer is no. Sorry. Yeah. I could see the reaction. Let's say one of us were asked to get a vasectomy and we fought it a little bit. I could see you catching some heat for why you're fighting it. You know, we're not having any more kids. We've agreed upon that. Playgrounds, you know. Yeah, but still, you haven't surgery. Yeah. Minor surgery is when it's on somebody else. Procedure? Yeah, oh. Is it vasectomy? Are you fully under? No. Oh, you're not? I don't think so. That's why they're talking about looking the doctor in the eye. You're localized. Dan Arlovski played basketball the next day. Yeah, she did. I just remember working with the SportsCenter anchor, and he said that he brought in a bag of frozen peas. And he sat at his desk, writing SportsCenter. That next day, and he was sitting on a bag of peas. I once produced, well, actually I was running the board for your show at ESPN and one of our producers had just had one. Yeah. That was fun. Yeah. Rich in LA, hi rich. What's on your mind today? Hey, Dan. 5 7 one 65. All right. I'm just worried about John morant and his gun situation. I'm sure you remember Gilbert arenas and what happened with him. But everybody remembers Gilbert, but do you remember who the other party was in that situation? Critten? Javaris crittenden. So he and arena has got suspended for the O 9 O ten O 9 ten season. All the players left the locker room, the wizards ended up trading a lot of people away. Britain didn't got traded to the Lakers. Where he joined an LA gang and is now in jail for manslaughter. So I just hope that this isn't the path that John Moran has headed down. But my biggest concern is if he's in Denver for a game and he has a weapon with him that is owned by him, he must have transported it on the team playing. Yes. That's what I want to know. How do you get that? And I know if you've flown private, there are a lot more lax when you're going through security, you even go through security in some places. But they might just ask him. It might be just a verbal you got anything. Now it might be somebody else who's going, but you need a gun to go to a strip club? And your posting that you have a gun in a strip club? If you need a gun to go to a strip club, then maybe you shouldn't be going to a strip club. Yes. I mean, there's always, you know, it could be somebody else's gun, kind of thing. It could be, you know? But you're showing it on Instagram. Like no awareness whatsoever. No. No. Zero. We'll check in with the Memphis Grizzlies. More on this story coming up after this. If you own a small business, you know the value of time. Get refunds dot com does as well. That's why they've made it easy no matter how busy you are to apply for the employee retention credit or it's known as ERC. Now listen up, ERC assistance can help you. It's going to take you less than ten minutes, go to get refunds dot com and see if your business qualifies. If it qualifies, you could be eligible for a payroll tax refund of up to $26,000 per employee, kept on payroll during COVID. Get refunds dot com has already helped clients claim over $3 billion in payroll tax refunds through the ERC. Maybe they could help you as well. And keep in mind, there is no charge upfront. They don't get paid until your business gets its refund. Many businesses believe that they are not going to be able to qualify based off incomplete or outdated information. Check it out. Go to get refunds dot com, click on qualify me and see if you qualify. Get refunds dot com. Thanks for listening to the Dan Patrick show podcast, be sure to catch us live every weekday morning, 9 until noon eastern, 6 to 9 Pacific, on Fox Sports radio, and you can find us on the iHeartRadio app at FSR or stream us live on the peacock app. When you start hearing those sounds, you know spring is coming, and with The Home Depot's countdown to spring, now is the time to get ready with savings in every aisle, like big row premium wood mulch with a new lower price of three bags for just $10. Fight weed maintain soil moisture and give your walkways flower beds and lawn, a well detailed look with red brown or black mulch. Make the most of the season with savings on all your spring projects at The Home Depot. How doers get more done? All for valid in store on March 5th through May 17th, color selection bears by storm. Limit 60 bags per customer while supplies
Fading Memories: Alzheimer's Caregiver Support
"domino" Discussed on Fading Memories: Alzheimer's Caregiver Support
"And so I just said, I played to I appealed to the fact of, wouldn't it be great to not have to worry about any home repairs, have to worry about if you've got a water leak, having to maintain the grass, you don't have to cook. You don't have to pay with the car we've tried to appeal to the no car insurance, no gas and all of that and kind of worked but she's still relented at the end. But for her, there's bridge. They play Domino's every day at three. There's exercise at 1130. So that routine, I think, is gives her things to look forward to every day rather than just, okay, I'm home, and I don't want to have to call a ride share today, or I don't have somebody who can come pick me up. And so I guess that means I'm stuck here at home, which really gets lonely, unless you're somebody who just really loves your alone time, I guess. I don't know, I don't know what you'll do, but he really loves his alone time, so he does not necessarily social. That'll be really interesting one of them. We'll see what happens. Yeah. But I think that that was that was what has been really good for my mom too. I think, is the fact that there are activities and there are people to talk to and people to be with, which makes it, I think, makes the day is much more enjoyable.
Fading Memories: Alzheimer's Caregiver Support
"domino" Discussed on Fading Memories: Alzheimer's Caregiver Support
"And so I just said, I played to I appealed to the fact of, wouldn't it be great to not have to worry about any home repairs, have to worry about if you've got a water leak, having to maintain the grass, you don't have to cook. You don't have to pay with the car we've tried to appeal to the no car insurance, no gas and all of that and kind of worked but she's still relented at the end. But for her, there's bridge. They play Domino's every day at three. There's exercise at 1130. So that routine, I think, is gives her things to look forward to every day rather than just, okay, I'm home, and I don't want to have to call a ride share today, or I don't have somebody who can come pick me up. And so I guess that means I'm stuck here at home, which really gets lonely, unless you're somebody who just really loves your alone time, I guess. I don't know, I don't know what you'll do, but he really loves his alone time, so he does not necessarily social. That'll be really interesting one of them. We'll see what happens. Yeah. But I think that that was that was what has been really good for my mom too. I think, is the fact that there are activities and there are people to talk to and people to be with, which makes it, I think, makes the day is much more enjoyable.
VUX World
"domino" Discussed on VUX World
"As we've got a lot of disparate systems that hold all this information. And part of the, there's a lot of work within M and S going on at the moment where we're trying to bring everything together in a single place where we can this is the centralized view of all this information about customers to sort of then well, we can then start plugging stuff it into facing into to get that really valuable information that you need if you really going to crack automation. And you've got to have those teams in place and structurally you've got to be set up in the right way where. We feel that as an operation in the context center. We're the best we're here to produce the problem statements and provide the data to sort of go, this is our top reason for contact. This is where we are trying to get to and then taking that problem to the development teams and sort of then go in, okay, well this is the information we need in order to then automate this journey. And that's where it becomes a lot more collaborative because the way that we're set up that we set up our teams in M and S is we've sort of made a conscious decision that the people who administer our administer to monitor their accuracy of monitor the quality of, they are all, I guess you'd call domain experts as in they're from the customer side of things. If you see what I mean, they've all got huge breadth of knowledge in terms of how M and S operates as a business. They will come from the customer side of the operation. So at some point, they've all been involved in some shape of arm with handling customer interactions themselves. And we feel that those are the right people to be managing the experience, monitoring the experience. But they're not, they're not developers, they don't code. And to be able to really get the full value, it's a matter of sort of pairing those people up with the people who can do the integrations you can build the webhooks and the plugins. And the integrations to where that information is held and then build interfaces then that they can leverage to then really start to. Use those conversational journeys and get access to that information and then build the build that journey out based upon the techies do what the techies are good at and let an art teams do what we're good at, which is the customer journey itself. Interesting. You mentioned that before autopilot and Dialogflow. And you mentioned that when you began it was Dialogflow ES, presumably before they'd released CX. Wondering whether I want to call them in his left, but I'm wondering whether you can walk us through some of those processes and tools that you might use from that kind of like management maintenance AI ops kind of perspectives or whether there's any learners that you might have to share on that. Yeah, I mean, certainly so where we feel we're still got tons of stuff we want to do. And by no means we're perfect in that. So I think because we sort of took this isn't to take to teach customer facing people the technical tools that then means that you have to invest in teaching those people about conversation design, teaching those people about AI training, teaching those people. It's not just about learning how to use the tool, it's those skills that come along with those tools. So we're still, we still use Dialogflow ES, CX's, we feel as if that's a that's a tool set we will need to get us to where we're trying to go to and on our journey. And partly because of that, you've got that ability to really closely tune those intents and journeys. You've got comes with quite a lot of out of the box analytics. Stuff to sort of really understand where are we talking about the website before? But where are the pain points in the journey? Where are we seeing ambiguity in conversations? Where are people dropping out into a default intent? What was their journey they took prior to that? And it gives them sort of that length further level of control. We've tried to build by plugging into the raw data and we've tried to build the capability using tools such as power BI to sort of provide us that sort of view of the journey and then for us for the team to then drill into where the journey is maybe not going to be long, but CX type product comes with a lot of that. Nowadays comes with that. So that's why we feel as if that will be advantageous for us. The other thing that I think we were talking about before the call was at the moment, we don't have a we don't have a consistent voice talent within our journey. So we've got a mix of I guess branded static messaging combined with TTS voices. And we feel as if that's another area we want to develop into. So we can give a consistent voice whether it's a static message that we're giving you when you've left the Dialogflow part in the Twilio part of the journey. You've come into the more generic contact center journeys. We want to make that journey a bit more consistent in that respect. Now as well. That's one of the things that we're quite keen on investigating now within what's available in the market and to sort of do stuff around that. And then looking at all our looking across all of our channels, we are chat and I've always got to sort of go, well, what is the persona we're presenting? That's one of the things that we didn't think enough about at start to sort of go, what is the what's the identity of the M and S bar? What are we trying to support about this just as we try our colleagues are all we invest a lot of time about what M and S is about? What are the values that are valuable to us? We think there's an opportunity around in our automated channel to do that. I think a lot of companies are really good at that. You've got your domino. You've got done from Domino's. He's very, very, you know, they've got that brand right within their particular conversational AI channels. That's where we feel that we want to.
The Aloönæ Show
"domino" Discussed on The Aloönæ Show
"11, and 11 a.m.. Wow. That's quite a coincidence. Do you travel often? I had a stroke. The tamoxifen that the doctors put me on gave me a stroke, which was one of the possible negative side effects. And that happened to me. Okay. Do you travel often? I hate traveling. Okay. I am a total homebody. There is no place I would rather be than at home. But I don't have to get up to come home. Yes, I agree. I like staying at home too. When was the last time you worked incredibly hard? And what? Anything. I worked incredibly hard. Yes, the last thing you worked incredibly hard as something. I don't know what that would be. Really? I don't know. I cook. I clean. I grocery shop. I write. I post to social media. So I don't consider anything that I do incredibly hard. Okay. Great. Fabulous. So what do you do? So when you're not writing or anything, what do you do in your free time? Reading, listening to music, playing, cards, with my husband's name is pap, so I was just playing cards with pal. Domino's with cooking, you know, and with the grandchildren, my son and his family come over every other weekend. Then I do, like I said, I'm the oldest of 7, and we.
Overnight Drive
"domino" Discussed on Overnight Drive
"Com older go star vintage clothing. Vintage now thousand dollars shifts here folks. everything you want and before the right amount abundant jesse finds a jesse go to places like savers and gooden. Well so you don't have to socially in this day and is uncertain times where you can't do a thrift store. He's emma stone on his ship director. Bow all the goes dot com or the app store. All the ghosts and you will find the best convinced. Kobe for you and your lover or your child your mother or father laws also them sending them to send dot com dot dot com Just doesn't stop at sit. There isn't any dot com for tonga for his should be shooting up by now right in is fully a couple of weeks before the pope. He told me exactly dan. This is gonna be right there. Rocco zanu giving. I fought of after photographed. Celebrities is what he does that also he takes pictures of whoever he made us tech annoying bucks. Majuro he can do for you. Dan see cmih. Dot com also majestic drop dot net. The justice drug dot net john. Now andrew have you been a situation where the woman where you've haven't lasted very long. Yes okay very embarrassing. Very majestic drug dot com. You'll find a product called mandala. And i'll tell you what it'll make you last longer than she's ever had in her life she will looking at you like you're a modern day. Burt reynolds and she'll say show get into the group chat with her her bitchy weird friends and be like. Hey this motherfucker of fog. We'll be i disappointed. They're they're andrew. Debate wolf ten out of ten will be returning also kodo wendy for twenty five percent off your killer tax tom anyways majestic job dot com mandalay and also support. Craig follow craig on instagram. That's it we're done okay. we're done. How exciting all right. Good everyone Back next week. Thursday eight pm. Come join us..
Overnight Drive
"domino" Discussed on Overnight Drive
"Then he put the mp threes together. We would do. We do three to one clap and then we got good at it near the end of having to do that where i would just record your clap through my headphones and the sink was like perfect. Dead on balls accurate great. Nobody ever thinks they do that. And it's like was much better been relying on a proprietary service to like somehow you we try to fucking them kassar and there was always the worst work. Yeah though i mean your podcast really bad. And that's no joke. No even like pumped pod big hawk has. I listened to always talking. And i'm like it's not hard to build jerry owning kid keep. Yeah no it's like. It's like a usb mike and a room whether steve l. reunion yeah awful. It was like. Oh she'll be near here. And there's like i didn't realize how much i valued producer craig's applause and caught the worst record case of covid. Nineteen now the podcast echo. He's better may he speedily recover from kobe or may he rest in peace while he's better late next week. We thought maybe you got it again this week. We got here and you were at home. I thought he passed out behind the wheel. What creative polices did you hide pornographic magazines as a child. Oh good question in a in a box. I bought my parents combat boots. And i kept the box and i kept all the point when they're nice. Okay good yeah. I had mine in my comics. So like unless you were like looking through like x four. Weren't finding them. All were buried porn. Was the fucking jail. You find porn cash baseball cards in there. But i always outgoing yet. Oh definitely yeah woods porn cash. It's great guy jerk golf in the woods no one around what the sperm plot craig. I know you up the sperm fly in the woods. That's a yes that's a. Yes that's all we got. Nature's way you woke up and someone's looking at you. Give him the non right. Yeah like look you never. Did this old man right for do it again. You're looking good andrea rethink about. Maybe jerking off in the woods together. No thinking about right now. Never once glad you called me. I can't even imagine being in the woods together with you. You call me earbuds all right. I'll go camping this summer. I'll jerk off in the woods with you i will. I will do that all right. I hate bugs. Yeah we should go camping just so you could go off in the woods. And why would you go camera half hotel points. Why would you can't because you got to go and start a fire and you gotta go and you got a fish for your dinner. I'd rather i'd rather blow my brains out. I would fish for my dennis. If you don't catch a fish you don't eat what. Why is this fund. Eight fourteen hundred mrs survivor. No i don't think so. This is not bear grylls. I don't do shit. I need to go to fucking grocery store and i go to the courtyard and i knew. Lay down and watch a headline news for. We can't do that. We can ever go camping and you can hang out in the woods but then at night you go to the courtyard and we'll just chill at the campsite. Can we go to the courtyard jerk off now absolutely nuts. You gotta stay in the woods. Four in the morning we gotta get off. And they're like yo. You ready craig to the courtroom. Can we go to. The southern connecticut is for all time. My favorite spot. I stated a courtyard this week. It was really nice. Yeah they didn't like the fire though. Just said it's fun anyways. This has been a fun episode sponsors. Wow oh my god liz gentleman. We have sponsor sponsor music to sponsor moon sponsor me used to be a real problem. Drags on placement sponsor music real quick one or takes it all in whose takes a fall. Definitely sure for eric. Jamal or runners marketplace was a halfway point of their daily run. This is actually a record andrew. Good trey a good pomp and always broke into a sweat. Clean fresh sweat dripping off there off losses like lots of guys. Exercise made the morning. I wondered if they'd be enough to show me what they do alone to show me what no one else has ever seen. Wanna talk. I bet you malls cock is huge. And we've gone. I bet hearing like to see how far he could shoot. I bet it was a big big one hot summer afternoon. I got the opportunity to have them to. My collection of some mature shunned. Become nothing more to say more more more than teaspoon when it takes. Aw beautifully john all the ghosts dot com older ghosts. Sue stunned when we start with his podcast. Stay find all the your son over those got transferred to go summit saddam now. It's time to download the old movie ghosts at all the the apple store. After you're gonna you're gonna get daily reminders of how cool this fucking pain is. Jesse routes very hard one woman operation with you. Think we are a feminist. You have to check yourself and a support women and small business. Let's go craig. Applaud.
Overnight Drive
"domino" Discussed on Overnight Drive
"The ends stu as an afterthought gentleman thinks producer. Hannah for coming on the thursday night live every thursday. Eight o'clock pm. She came up. No she did came on a deep anything's defect but she turned but her. I would always stay in the same place and this seems ridiculous. She grains microphone. Green screen kept coaching. Came on and it was great to see her. Finally thanks to producer for giving us some smut every week prior to the proud of michigan wooden gentleman on my phone clothes shopping in walmart. Rhinelander three lakes wisconsin our shopping. Neither charcoal here behind me with your kids talking about what you needed to get because it made you. I said that being happy was important. Pasture a few more times in the store wound up checking out at the same time as you said more stupid obvious shit. Yeah talked about the weather. Wanted to say something. But you had your kids. And i wasn't sure if you're interested. Send me a message with what tattoo you have on your neck. Oh longchamps but. I figured i'd try. What the fuck disney on ice. Hey gorgeous haven't been space bull thinking about. You seem you while you were getting your cotton candy. Wow so sexy cotton candy. So every woman who's at disney on ice in tulsa oklahoma Getting cotton candy is now like i'm just surprised that scott hamilton disney on ice still performing. Wow scott hamilton. let's go you want my necklace in a game of pool in houston wpro. It's been years. I was fourteen and he shouldn't. I sold my car to title place. Came on my winning. I was fourteen to should not have been a non bar. You challenge game of pool and the wager was my necklace the color of money. Obviously you one. You took advantage of me. And now i want a rematch for my necklace. Back in zero. Email the details of my necklace. Let me redeem what is rightfully mine. Fuck in dire found domino's card lake city. Oh my god. I found a domino's card in the subway parking lot. I'm more of a subway type of guy if the sounds like you i'd love to return your card and maybe more. Can you imagine getting laid off a so domino's card. Just he know who the thomas carpet lawns to literally anyone. Who owns this car. You can take domino's question. Let's domino's amex punch-card domino's amex domino's my purchase three-piece files. We're at that point. In culture. domino's. Amex is closer to reality than not rally every purchasing legroom and mexico get point sort of free pizza. Wow bit of booty. Eating into in topeka employ craig. A big fan of booty. I'd just like to bite. The i don't necessarily like to look the hall to bite the bug spanking the typical get creative. No no no. that's me. I'm personal preference. Booting talked about it at a party as a joke. But you seem down honestly never been with a chicken to it so it might be interesting smiley winky face. Let me know where it was. Where what what the but the but talk the party in topeka. Let me guess. Like the fucking. The parking lot of creatively named gas station. Come and go. yes slipknot concert. august twenty nineteen. There's little to no chance you're saying this but we rocked out together the whole concert. Homey we were in the vip vip at the providence medical center amphitheater in bonner springs. You just set the most depressing sentence in the history of the human language. That's fucking amazing. Holy shit that is a. I would actually declare a fatwa. Fatwa fucking nuclear war from orbit. We were in the vip pit at the providence medical center amphitheater in bonner springs. Were a girl with awesome. Gov mega bomb and we tried to exchange contact and put it into your search bar instead of your notes app or something else. Closed the screen on search. Engine typically removes the query. All right okay. Dad is a fatwa. Fatwa egghead here. I would've loved. Hang out with you. Maybe even go tomorrow concerts. If you do see this. That's a miracle contact me. Maybe we could talk about like tcp ip or like other goal is what. Maybe you're on the upn right This is called a yard sale. Was that for your urine. Sale says tour was that yard sale on saturday. And you brought me inside to show me the bed you're selling. I'm very interested in. I'd like to come back and ask me how i spell come see. I'm that he had a garage sale trials. I have them in the state sell an. My father died bed now. I'm just feel very alone right now. And modify lay down and try it out. You know this the something around it is weird. You're wearing kilts fathering under traditional style. Utility kilts i love frontier forts hill. Wow i think i want to get into it until you can't wait till goth. My comes back away. To miss a biography the club muskie pit guy. Hey i really enjoyed worshiping muskie pits off while we get our own thing. I hope you see this. Has i must have written your email wrong. Love to see you again after you hit the gym even work and thank you for not wearing the other that day. If you're a it again send your pick all recognize it. It's school it's also shower of gold los angeles shower go now for now. Love receiving shower of the golden variety. Manzoni yet the circle turks greatest hits the seamy golden shower. Little girl is full years old and quiet man can drink straight from the tap number. Thirteen here scares me so loud in my left ear really want you.
Overnight Drive
"domino" Discussed on Overnight Drive
"And just do the mighty boss tones right. Yeah the somebody's sitting. Hello by lionel. Richie shit me good. I was crying so sad. Loud as he has his gayborhood. This song. that's a woman. Yeah.
Overnight Drive
"domino" Discussed on Overnight Drive
"And then i'm like no it's getting larger. Why is that happening. And it's because this is being recorded right now. I'm we've lost half an hour of an episode before in recovered but yeah that was two minutes. This is a this is a four. It's called a force to double back. Hey andrew ooh other thing of neil young. I'm thinking about taking rent buying a pig up and take down same. Same renting of. I think you'd be said a rental income. That would be more in tune with today's today's people we missed. So you guys just missed a little bit of recording. We did we. Just we threaten people and exposed things that people shouldn't know so we actually kind of like you're in good shape now having that not on the internet. So that's pretty cool. Yeah you guys missed a hot few minutes i guess. Now in retrospect welcome three twenty six. Right yeah welcome to melbourne. I try extrordinary conical of american life. Today we're going to be talking to be administered american football as well as we're going to have a call in from wilson empire. Wow again snow room. I have the surviving members of angel hair and antonio caro coming together to ask her five and a member of the asking them what it was like to record the steve albanian chicago. Seven also the members of armor for sleep combined live at talking about their live performance at the stone pony as part of the save. Our venue series. Also bayside and members and ben gilbert. Ben gilbert will be interviewing side. Wow star-studded yes it's going to be great. So bob nanna from braid interviewing members of boys like girls to let them know what it was like to pass the torch from one obama to another kid members of calvary. Wow the number you gave me that. Cd l. I think calvary was the last like good email. Remember when we worked together. That was really our initial initial initiate. And i liked you because you never asked me for a ride to work. That was the best that was the best. You would be sitting there waiting for a ride. And i would just be like goodbye awesome. Yeah i hated having to get rides into work looking all having to like make some bogus small talk. At like eight morning four worked at equalization of some point and we would be like it's totally quarter work forty five minutes away not have a car just figure it out. I remember there was i. Won't i won't name lynnwood by name. I might but i remember. There was a day because the kid who gave me right into work. Quit and i'm like fuck coming. You get to work now. And i wouldn't like hey man can. Is it possible to get a ride in with you. And he looked restrained the he goes. I'm open to discussing. Oh if you asked me back. I would have given me celebrated our friendship. It's so fucking stupid though looking back though 'cause like i was making money just by a car idiot dillon liked by a fucking like nine hundred ninety. Four hundred hit the road. Although i didn't even have a license extra hurdle nevarez to We have Jen from klickovic. Shoot actually an overdrive in. She was going to be talking to us about driving uber in oakland a quiz quiz for the people at home. How many of the people on the show today are uber. Drivers the answer after the break hint. It's all of them. Do we have zero craig's. I'm i'm an uber driver. Know all of our guests all of our guests of course because we don't know because we have the members i don't know if they're members of corn on the cob coming in. I don't even know that one to talk about being drivers as well as creationist crucifixion. Who are uber drivers. And they're actually giving corna macabre ride. Here it's going to be good new punk podcast where it's only punks uber. Drivers talking about the struggle of being a rideshare driver. You know we're going to be talking about current about the their embrace cover in the land of need world of greed compilation Released by richmond direct action in that ninety seven. Be talking about that. Ross is going to be talking to the members of desert soundtrack. About touring with aficionado. It's going be great time. What's going on. I hear somebody talking. I hear voices okay. I guess. I'm just alone on this podcast. So how you guys doing amora. We're going to tell my god he's gonna be talking to members of hollywood and dead about The rise in the fall of celebrity going down and also We're talking to jordi from. I killed the prom queen about a what. It's like Planning a tour post kovac making these others. These are not real names. Oh god i have a whole list shit. I feel like i've said in my teeth today. I did my prep off my practice. Just like you take the thing called prep for you. Have unprotected sex and get right. It's the same thing house doing. My the people listening as well as producer crag russia and we also also to my beloved andrew went to flower. The faa and. I'm thinking a wild time. What can you talk about and what. You can't do all right so i went to. I went to ebor city. I gotta say you have a tan. It was a burn up until yesterday. Getting a tan is a symptom of covid nineteen. Yes it's true. Craig is recovering because he was on last week. Oh that's right. How's your copay. You're right okay. that yet. Silence means okay. It's a voice box. Do you know. I'm not just telling your thunder. The owner. the founder of texas roadhouse killed himself today. No i did not because he had covid related tonight as a drove him so crazy that a shot himself on his farm. Wow it related tonight. S damn only shits use a rocker. Maybe he just had tonight. Is i mean if i really do. I get covid related. Arthritis of i've been in a runner for forty.