38 Burst results for "Schwab"
Thinking Crypto News & Interviews
A highlight from SEC GARY GENSLER WANTS TO BLOCK COINBASE IN CELSIUS NETWORK BANKRUPTCY RESOLUTION (CRYPTO NEWS)
"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, I want to start off by talking about scumbag regulator, Gary Gensler and the SEC blocking Coinbase in their role in the Celsius network bankruptcy restructuring. This is big news, folks, because it once again shows that Gary Gensler does not care about retail investors or investors at large. He just cares about power and his next job. And the SEC has fallen far from their core mission of protecting investors. Let me give you the details. Here's the headline being reported. SEC raises concerns on Coinbase's role in the Celsius network bankruptcy restructuring. The Securities and Exchange Commission filed papers raising objections to crypto firm Celsius Networks plan to distribute digital assets to customers as part of a reorganization plan through Coinbase Celsius, which filed for bankruptcy more than a year ago, will seek bankruptcy court approval for its restructuring plan in the coming weeks. Under Celsius's proposed plan of reorganization, Coinbase will provide brokerage and master trading services to Celsius, engaging in activities that prompted litigation by the regulator, which is still ongoing, according to court papers filed by the SEC in the Celsius Chapter 11 case on Friday. The regulators sued Coinbase earlier this year, saying it operates an unregistered securities exchange. So once again, folks, we see that Gary Gensler doesn't care about you or other investors. This is about his power. We know he's unfairly going after Coinbase. The SEC greenlighted Coinbase to do an IPO review their business and much more now is trying to sue them for the same business activities that is asinine. But we know the goal, folks, what we've been talking about for a very long time is that Gary has been weaponized by the tradfi incumbents who want to stomp out crypto startups like Coinbase and others, right, kill them, kick them out, not kill crypto, but rather push these startups out so that his friends on Wall Street, BlackRock and JP Morgan and so forth can come in and take over. Because in parallel with the enforcement actions that Gary has been putting forth, we see BlackRock entering the market, right, Citadel, Charles Schwab and Fidelity launch a crypto exchange and many other big players getting involved. So how can these two things be happening in parallel, right? One hand, Gary is saying this entire market's full of hucksters, scammers, yada, yada, yet I see the biggest institutions in the world and from Wall Street launching crypto services and exchange services in custody and much more. It doesn't add up. So it's clear as day what's happening. And the fact that he's trying to block this, right, when it will help the Celsius investors to make them whole, it shows he doesn't care about the investors. He doesn't care. He just cares about his fake lawsuit here against Coinbase.
Bloomberg Surveillance
Fresh update on "schwab" discussed on Bloomberg Surveillance
"Favorite phrase of Mike The drawdown is, you know, not even correction status. What everybody called on, we've calmed down, we've pulled back. Wilson is not 100 % in cash, go to cash. He's not in the triple leverage, all cash fun. It's measured. It's September. Well, okay. And that actually is a great point. Is this just a seasonal blip? And if it is just a seasonal blip, is there actually any coherence whatsoever in the moves that we're being seeing in bond yields and the understanding of what that would actually do in equities that have really been resilient. I mean, yes, To your point, there hasn't been that much bloom, especially yesterday, the magnificent seven actually outperforming despite what we saw with yields reaching. Yeah, I'm glad you mentioned that we had a nice recovery in equities. And I'm going to take a lot of solace in exchange, foreign I'm looking at as a barometer, a litmus paper of the global system, as we just heard from Brown, Allarian and Spence. But what I would go to, it's September, it's a Saturday, Michigan comes out, they score 30 points, they win. I mean, that's, it's September, that's what happens. Michigan, Nebraska this weekend, bloodbath. I thought you were talking about the Michigan Consumer Confidence Survey. No, no, I'm not talking about it. I'm talking about what matters to me. Well, let's get right to the daddy check because we've got an incredible guest coming up. And I really want to get his view on the coherence or incoherence of this equity market down, although paring back some of the losses, S &P futures down less than four tenths Euro climbing actually over the 106 line and just kind of hanging below it. But to me, really, it is the 10 year and the fact that it's four and a half percent and yes, yields have come actually down from yesterday. But still, we're talking four and a half percent, Tom. After people thought this was implausible, as I said earlier, as I said, Kathy Jones Schwab, it's an incredibly elegant chart. It's got log convexity, higher yield. It's behaved well on a set of log moving averages I use. I'm sorry, trend, higher yield. And meanwhile, we are focused also on gas price, just because we have seen that adding to the toxic brew of the past couple of weeks, which is oil prices higher, and people saying they could potentially go even higher. There's so many different voices that we deal with When we invented the program, we said, you know, we've got to have a lot of different cross sections of opinions. And so in meetings that we have, you know, where do we meet? Like three hours a day arguing about this stuff. John and I just say we need someone Brahmo's comfortable with. I am. So here's an 8am comfortable segment for Graham. I appreciate that. Mike Wilson of Morgan Stanley. He's making a lot of warnings recently, the latest saying that risks are building for us consumer stocks rating quote, this price action is picking up on slowing consumer spend student loan repayments, resuming rising delinquencies in certain household cohorts, higher gas prices and weakening data in the housing sector, the quinfecta of threats or however many you want to say that Mike Wilson of Morgan Stanley joining us now Mike, how much pushback we talked about this before. Do you still get the same degree of pushback that you did a month ago? Or are more people listening and saying, wait a second, in the anecdotal data, this is starting to make sense? Yeah, look, I mean, I think the question for investors is always price. I mean, we're in a late cycle environment. Let me just set the table a little bit, a right? late So we're in cycle environment for the last year. And when you're in a late cycle environment, there's a lot of uncertainty, right? I mean, people erroneously called for a recession in the first half of this year. It didn't happen. And now they may be erroneously believing in like this beautiful soft landing with some reacceleration next year. They probably overpriced that in the summer. So what happens is investors get whipped around by price action. And I would say what's happened in the last two months is we are seeing a breakdown again in a lot of the stock market, okay? Yeah, the overall averages are down four or five percent, not a big deal. But some of consumer these stocks are really, really struggling. And I think that reflects kind of what we were talking about a minute ago before we get on air, which is that the lower middle end consumer definitely is out of excess savings. That's starting to bleed a little bit into the higher end now as well. We have the student loan moratorium. And I just think that's the wild card. That is the risk for the fourth quarter. Can the consumer continue to surprise on the upside? Can you see some of these retail and consumer -facing stocks, these cap small stocks, get blown out, have their valuations completely decimated, and the rest of the market chug along? And no one noticed because the Magnificent Seven keep heralding all of the cautious votes of confidence from a lot of the consumers that see them as cash cows in perpetuity. Well, it can continue if you don't have that hard landing. If you have a hard landing, then even the big winners will feel that. And I think that's what the market's betting on. market The spending. There is no recession. And we're talking about the bond market. Is that signaling greater strength or is that signaling that maybe the bond market is pushing back on the fiscal spending? I think it's a little bit of both. And if we don't have a hard landing, then the big names are probably going to continue to lead because they have scale and they have better balance sheets. Let's go back to Graham -Dodd and Coddle 101. Mike Wilson, how can you be as cautious as you've been and not have a massive cash position? What is your cash position? How invested are you within your caution? We're basically We're % 95 invested. We're like 5 % underweight equities. We've talked about this before. We never go % 100 cash. Yeah, but the financial media does. It makes for great theater. Of course. Now, what we can do, Tom, is we can be positioned more defensively within our equity exposure, which is what we've done, right? So we're skewed more towards kind of defensive growth, you know, late cycle cyclicals as opposed to that. We're not grabbing for beta. We're not grabbing for small caps. We're not grabbing for the stuff that's really kind of vulnerable if things go sideways. OK, you're with James Gorman. He's saying, Mike, I don't care about it in this blather. Just Tell tell me me about the damn banks. I've been remiss on this. Keith Bruyette Index. You and I know it. We love it. And the answer is it's a grim chart. You go back to pre California, pre idiocy Be out there with one, you know, you know, the game that they went through. It's one of the barest charts I've seen in in years. When do you know to load the boat on banks? Well, look, it's the same story as the broader market, Tom. The bigger getting bigger. There's there's concentration, you know, in the winners again, it's it's like the higher quality banks are performing. So are you long Apple? Well, I mean, we are many portfolios, obviously, because it's such a big part of the index. But another Apple's category of stock where people are paying up for the quality of the balance sheet, the lack of need for financing.
Thinking Crypto News & Interviews
A highlight from BIG CRYPTO NEWS!! CITI BANK TOKEN & JUDGE DENIES SEC GARY GENSLER IN BINANCE US CASE!!
"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 or wherever you get your podcasts, make sure you hit that five star rating and review. It helps support the podcast and it doesn't cost you anything. Well folks, we've got big news coming out of Citigroup today. They have officially launched a token that will be used for deposits and the transference of money. Let me give you the details. Citigroup launches deposit city token services for institutional customers. This product will be based on a private blockchain controlled by the bank, converting customer deposit into digital tokens that can be sent instantly. Customers do not need to set up their own digital wallets and can be accessed through the bank's existing systems. This was reported by Bloomberg. This is huge news. There's many layers to this story. First it is further validation of this asset class and technology. And this technology is disruptive folks. And disruption is at the doorsteps of the banks, whether it be Citigroup, JP Morgan and many more. And they are trying to build their own versions, right? If the old system is working so perfectly, why are they trying to build blockchains and use blockchains and build tokens? Why? They know this new technology, this new asset class is the future. This technology is here to stay. It has many benefits. It will leave the old system in the dust. Folks, disruption is happening. Another major move here by a bank. And it's once again, further validation with technology. The other layer is that just about a week ago, reported on September 7th, JP Morgan was reported that they were building a deposit token themselves for settlements. JP Morgan is reportedly developing the infrastructure to run a new deposit token, allowing settlements between banks for corporate clients. Pretty clear what's happening here, folks. They know, especially with the likes of Ripple winning the lawsuit and XRP getting the clarity and not to mention CBDCs and stable coins and PayPal building their stable coins. This technology is here to stay and it's moving at a rapid pace. And look, I've been on record saying that I believe the TradFi incumbents, such as Citi, such as JP Morgan, Goldman, and these guys, weaponized Gary Gensler and the SEC to go and try to kill the stable coins, kill Ripple, kill whatever payment or crypto startup, right? Because Gary Gensler and the SEC are controlled by these TradFi incumbents. I had Caitlin Long on the podcast talking about the bias towards the TradFi incumbents, right? And we know how the political system works with campaign donations and much more. So it's pretty clear what's happening here. If you sit back and you look at the timeline, you look at the parallel of these things that are actually happening, right? We're not saying that we're not fabricating something here. It's clear what's been happening. It's clear what Jamie Dimon was saying since 2017 and what his bank was actually doing, right? Watch what they do, not what they say. Folks, first they ignore you, then they laugh at you, then they fight you, and then you win. It's pretty clear that this tech is so disruptive. They're scared of it and they're trying to build their own versions. But the problem is these wall gardens that they're building on private blockchains, no one's going to trust it. Why would another bank want to trust your token that you control the blockchain, you control the nodes, and much more? There are going to be private blockchain systems, don't get me wrong, right? Citi may launch its token and within its own different branches move money and settle instantly, but don't expect JP Morgan to use their coin and vice versa. So this is what's happening. They're not going to be able to disrupt the market with cross -border payments and all the different blockchain systems that are out there, which provide more of a free market, trustless permissionless setup. So very bullish folks for the crypto asset class that these banks are so scared. They're trying to launch their own tokens. And once again, JP Morgan is trying to do the same thing. And as mentioned, this is being reported by Bloomberg and they're calling it Citi Token Services once again. Let me give you a quote here from Shamir Khalik, global head of the company's services division. The development of Citi Token Services is part of our journey to deliver real time, always on next generation transaction banking services to our institutional clients. Oh, but I thought the traditional way of doing things was working. I thought crypto and blockchain, all these things are scams and a Ponzi. I guess not. The move is the latest by an established banking giant to offer so -called tokenized deposits or transferable digital coins that can represent a claim against banks. Crucially though, these tokens are processed on blockchain reels, meaning settlement is instantaneous. Yep. Folks, I'm so glad I'm here early. I'm paying attention. I'm researching, I'm dollar cost averaging and I'm hodling. Now a great way to dollar cost average in is using Uphold, which is a great crypto exchange. They are one of the sponsors of this podcast. I've been using Uphold since 2018. They have 10 plus million users, 250 plus crypto currencies, and they're available in 150 countries. You can also trade precious metals and 37 national currencies where you can easily transfer between crypto to different Fiat currencies to precious metals. That's a pretty unique feature to Uphold. If you'd like to learn more about this platform, please visit the link in the description. Well, folks, we've got big news around the SEC versus Binance. The judge declined the SEC's request to inspect Binance US. So if you recall, there was news that the SEC rips into Binance US over a shaky asset custody asked court to order inspection. The regulator asked a US court to reject Binance's half -hearted objections to its motion seeking depositions and inspection and communication from the exchange. This is another big fat L for scumbag regulator Gary Gensler, and this is being reported by Bloomberg. Here's the headline. SEC fails to win immediate inspection of Binance US software. Regulator says it is not getting enough access in lawsuit. Magistrate judge didn't grant expedited discovery requests. So the SEC says it has been struggling to get information from Binance US since it sued the American exchange along with its international affiliate Binance Holdings Ltd and its chief executive officer Changping Zhao in June. So Gary is taking loss after loss after loss. And I think a big blow is coming with Coinbase. I think Coinbase has a strong case and just like the grayscale situation, a lot of legal analysts are saying, yeah, we think Coinbase is going to walk away with a victory. Now, it may not be a full victory, kind of like the ripple situation where the SEC did win on some grounds, but it will be the lion's share of the win, or if you were to count up the numbers here, and that is what we're looking for. And you may say, well, Tony, why are you bashing the SEC and Gary Gensler so much? Don't they have a job to do? You're absolutely right. They do have a job to do, but we know, and this has been confirmed by the crypto industry as well as members of Congress and other regulators, even SEC Commissioner Hester Peirce and Mark Ueda, the SEC and Gary Gensler have not been acting in good faith. They have not been abiding by the law. So this government agency, which is supposed to have integrity, which is opposed to abide by the law, are themselves not doing that. Well, you have Judge Sarah Netburn rip a lawsuit saying the SEC lacks faithful allegiance to the law. What a burn. What a statement, right? That a government agency is being called out by the judicial branch and you lack faithful allegiance to the law. And even Bill Hinman and his conflicts of interest with Ethereum. And the list goes on and on and on. Gary Gensler is a puppet on strings doing the bidding of the incumbents when he's supposed to be a neutral party just looking to protect investors and they are attacking good actors. So it's not like they are just going after bad actors and that's the end of it. They're attacking good actors. And it goes back to what we were talking about at the beginning of the podcast. Citibank and all these banking incumbents have weaponized Gary Gensler to kill the startups that are disrupting them. The other aspect is Gary Gensler is not working with Congress to provide clear regulations, right? And he's flip flopped over the years. He's a big hypocrite. He's a liar. We've seen him lie many times. And he continues to say there's hucksters and scammers and so on and so forth in the industry. I tweeted about it today. You have some of the biggest names entering the crypto market, such as BlackRock, Franklin Templeton and many others filing for Bitcoin spot ETFs. Earlier this year, Charles Schwab, Fidelity and Citadel launched a crypto exchange called ADX Markets. PayPal launched a stablecoin. Deutsche Bank just reported last week they will offer crypto custody. Mastercard launched a CBDC program. Visa expanded their use of USDC stablecoin on Solana. So Gary clearly tried to distract and attack the startups while his Wall Street TradFi buddies come in and take over and look at the facts, right? I just listed out a whole bunch of big names that are coming in. And remember, Gary met with Sam Beckman Fried and FTX officials, didn't do anything. Big collapse happened there. He didn't do anything about Celsius or three hours capital and a whole bunch of other things. He didn't stop Terra Luna or anything like that, right? He just sat back and waited. And I think that was part of his strategy. I think he knew of the things that are happening, but he let them collapse so that they would hurt the market, right? Let the flush out all these startups who look, they're not established like the banking incumbents. And then what happened this year? Oh, I'm going to go after the good actors. I'm going to go after Coinbase, right? I'm going to go after this company and that company and NFTs and many other projects. So it's pretty ridiculous what's happening. But guys, we will win the war. We've seen historically that the disruptive technology will progress. It will get adoption. And if these folks don't get on board and it looks like they're trying to with their tokens, they will get or have their blockbuster moment. Now, speaking of further adoption, blockchain capital raises $580 million for two new funds. Venture capital's firms, record funding comes as space is teeming with exceptional innovators, despite bear market execs says. So the capital keeps coming in investments into the crypto industry. These companies and these funds are investing in both the companies, building the infrastructure, as well as the tokens are very, very bullish. Despite all that happened last year with FTX and Celsius and so forth, there's looking beyond that. They're looking at the future and the horizon of the adoption of this technology and much more. So one is the San Francisco based companies, six early stage fund in line with such funds it has previously launched, while the other is its first so -called opportunity fund. The $580 million marks the company's largest raise in its 10 year history, according to blockchain capital executives, Spencer Bogart, Bart Stevens, and Jason de Piazza. Such funding coming during a bear market reflects our investors trust in our long -term perspective, they said in a Monday blog post, adding that innovation often thrives during tough economic times. Despite the downturn in liquidity prices, we see a space that is teeming with exceptional innovators and founders, each aligned with the first principles of open source innovation, credible neutrality, and censorship resistance, Stevens told block works. The firm's first opportunity fund was conceived as a post dislocation investment vehicle. According to blockchain capital, Bart Stevens, it was designed with a high conviction concentrated mandate to pursue financing opportunities at the later stage. Very bullish news here, my friends. And here we got some more quotes. We felt generalists and newcomers misjudged the opportunity set he added. In contrast today, the fundraising environment for late stage crypto companies is barren, creating a unique and compelling opportunity for targeted capital that understand web three technology. Pretty incredible folks. And this is a lot of capital and more is going to keep coming, right? We're just seeing some of the biggest trad fi names entering a lot of capital being raised by different funds and new funds popping up and they're going to invest in the market and we're going to see continued growth and the S curve adoption keeps moving higher and growing folks. It's happening day by day, week by week, month by month, year by year. Now we got news here in New York financial watchdog proposes strengthened crypto guidelines. The New York financial or the New York department of financial services published proposed guidelines on Monday aimed to strengthen how firms list or delist coins. It also proposed guidance on adding coins to the state's green list. So we're seeing states move in the direction of trying to figure out regulations while the federal government continues to drag their feet. Obviously we got two bills in the house and shout out to patch McHenry and those folks who have been trying to get things through. Even Senator Cynthia Lummis and Christian Gillibrand in the Senate also have a bill, but we need Congress to act, right? Things are moving really slow. They need to put the guardrails in place, but we're going to see a lot of states do this. And I think as they do this and with their grassroots movements and much more, it's going to put pressure on the federal government to eventually act. So I think this is a good thing. However, the devil's in the details. New York can sometimes be very heavy handed. They obviously have the ridiculous bit license, which they should get rid of. But I think that's Wall Street's gatekeeping to allow only companies that they want and much more. So it's tough for a lot of crypto companies to get that bit license in New York. So we shall see what they come up with, but let me give you some details. Since joining DFS, I have made it a priority to ensure the department's regulatory and operational capabilities keep pace with the industry developments to protect consumers and markets. And why DFS Superintendent Adrian Harris said in a statement on Monday, and why DFS has been active in regulating crypto in the state for years, having launched its bit license regime in 2015. A slew of firms have virtual currency licenses in the state, including Coinbase Incorporated, and according to its site, although some firms close up shop in the state. So let's see what they come up with and all the details as it comes out, and we'll have some of the legal experts review it. But I am for regulations. I think they're important. Now, I don't believe in draconian regulations. I believe there's a balance. You allow innovation to flourish, but you protect consumers. That's the balance. But we got to keep our guard up and push back on anything that's draconian. Finally, Malta, they seek to change their crypto rule book to get ready for MICA. So the EU MICA regulatory framework was passed. The EU and the UK are ahead of the United States right now. The country's financial watchdog wants to align its framework with the EU wide rules set to take effect in 2024. So once again, EU and UK ahead, and it looks like these countries and the European Union are going to look to align to this. So this absolutely makes sense. Now, this law and this regulation is not perfect, right? And there's still some fine tuning that's needed, but it's a really great start. And I'm glad they were able to get things through because it just once again shows crypto is not dependent on the United States. This in technology the digital world that we live in and everybody on the internet, it doesn't need the United States land and borders to operate. It can operate from anywhere. Now, obviously I say that, but the United States is the world's largest capital market. So matter of capital raising and funding and so forth, that is certainly a big factor for the United States, but for these projects to launch and to build and to grow, they don't need the United States. And living in the United States, I'm worried that the US is in danger of losing some of these companies and a lot of jobs and economic benefits, but hopefully they can get it right sooner than later. And this EU MICA bill will take effect in 2024. And I think we can expect to see other countries align with it. And that is really great because there's not going to be different rules for different countries, at least in the EU, they can online and provide clarity to the different businesses operating in the EU. So this is good news, I think all around. Well, folks, that's the news. Please let me know what you think about the Citibank token, the SEC taking another big fat L, the judge striking down their requests in the Binance US case. And what do you think about all these items? Leave your thoughts and comments below, hit the five star rating on the podcast platforms, and I'll talk to you all later.
Bloomberg Surveillance
Fresh "Schwab" from Bloomberg Surveillance
".33 NASDAQ down four tenths of a percent SPX I'll get it right down four tenths of a percent as well 4 .49 percent it's a bombing market here this morning when you get to a massive must -listen global Wall Street conversation here with Kathy Jones from Schwab here in a moment publishing Ian Lingan publishes he says he likes the skepticism out there ala kashkari and the reaction to that Torsten Slack publishing moments ago at Apollo thank you Jim Zelltner for that conference in London was that cool that was very cool it was very very cool and Torsten notes that the cost of money is beginning to affect venture capital and me Lisa this is a huge deal this of permeation the real yield the new yield back to 06 7 it's a whole new world after all yeah I mean we were talking about insta carton arm coming out with IPOs and the buried news was it was a fraction of what they were valued at a year or two ago and oh yeah the IPO price has actually gone down in the real market after the IPO it's FX Tuesday 106 6 on euro exactly 106 0 0 my snow sterling under a 122 Farrell may not come home 121 88 weaker sterling over the last somebody Swiss Frank doesn't give me love I do not get stronger Swiss Frank off that which is of note and we've barely touched I got a yen 148 88 rounded up 149 yen at a 150 gives pause worldwide window under surveillance quickly here because we have an important global Wall Street guest alright we're watching this president Biden joining the picket line in support of striking UAW workers he's heading to Detroit around 12 noon meanwhile tensions between union workers and Ford have been ramping back up because the company is halting production on three a three and a half billion dollar battery plant in Michigan with scrutiny coming based on Chinese backing for that factory this keeps percolating out Tom to me the most interesting aspect of this whole story is how it really supports wages going up and how it gets in the crosshairs of so many different debates and is so messy it is so hard to sort of parse through the strains of trying to support business trying to separate away from China and also trying to make sure workers get fully compensated I was reading a vignette I'll give credit to the economist on Europe and China in EVs and to me there's a massive OBE there's just a massive overcome by events here to this manufacturing race a new technology okay I'm gonna quickly move on and get to the Senate nearing a bipartisan deal on a short -term spending measure which could some sort of government shutdown. Bloomberg reporting the deal would extend funding for four to six weeks after the October 1st deadline so we could do this all again and meanwhile the focus really is on House Speaker Kevin McCarthy and his future if this this does pass the Senate because then he has to decide whether he brings it to a vote in front of the house bitterly divided against some of the protests of some of his more hard -leaning constituents and could this lead to his getting a loss of confidence vote at a time where there's nobody who could really take his place? Stay with Bloomberg surveillance folks and surveillance shutdown central we have a team of people led by Michael McKee and Ann Rehorton to look at this we also have a team I do read the blurb there shutdown central shutdown central yeah I want to count on clock yeah there please yeah it's gonna be just a perpetual ongoing one US billionaire Citadel founder Ken Griffin this is interesting it's sort of the takeover US takeover of London we've been talking about all teams well this Ken Griffin is reportedly backing a group to take over the UK's telegraph media the auction for the publisher of conservative titles such as the telegraph and the spectator is expected to garner the attention of the owners owners of the Daily Mail as well so we talk about all of these billionaires and hedge fund managers and private equity fund managers going into London football teams now they're getting into other forms of entertainment as well we need don't to run this as a clinic but we talked about this in London and that here all the media like is we don't have an opinion but they do and there they're like we have an opinion by our newspaper it's much more vibrant over there. John Barrow actually explained to me the genesis of that and it actually makes a lot of sense which is there are all these Dukes and Lords they own the papers and had a point of view and then it was just a stated point of view whereas it was a sort of different generation of news in the United States. Yeah you know then Mr. Murdoch retiring in tabloids and not that I would ever read a British tabloid and I how couldn't get many did you read? I couldn't get past page three continue if you would please. That's all I got. Okay Joining us now Kathy Jones chief fixed income strategist here on a higher yields on the real yield I'm sorry even a Schwab Lisa it's been an adjustment. I mean honestly right now people are looking at these yields and saying can they last and you were even saying yesterday as you looked at them why so why? You Yeah know I do think that we are adjusting to this new world where we have a positive term premium and we have a Stronger growth outlook and certainly you know higher for longer yields the question is you know what is The end point of all that and so when we look at it what we say is well the Fed might hold here for a while But it's very difficult to see why they'd want to go a lot higher from here, so inflation is Get a couple more zero point
Simply Bitcoin
A highlight from Michael Saylor: Bitcoin to $5 Million is Inevitable | EP 824
"It's all going to zero against Bitcoin. It's going up for everyone. Bitcoin! You're against Bitcoin, you're against freedom. Yo! Welcome to Simba the Bitcoin Live, we're your number one source for the peaceful Bitcoin revolution cover breaking news called dramatic warfare will be your guide through the separation of money and state today is September 14th 2023 another day in Bitcoin another day on the Bitcoin roller coaster they don't call the Bitcoin roller coaster for no reason there's ups and downs we hit 25k we're back to 26 ,697 but if you zoom out if you zoom out in the grand scheme of things if you believe in the meme 21 million divided by infinity or infinity divided by 21 million I think it is we all know we're early but there's something I want to talk about today specifically there was a very famous spaces that Michael Saylor did and I think he did it with some some legacy media people there's a huge spaces and there was three things that he said needed to happen in order for Bitcoin to 10x and then during that spaces he even said if these thing if these three things happen Bitcoin will inevitably hit five million dollars per coin now what were those three things first thing was the changing of the FASB rules right with the accounting the fair value accounting rules and that happened not too long ago we broke the news I wasn't there I had some swan duties that day but Opti and I think it was Rustin were holding it down so we covered that and then number two was large banks right I'm not talking about like small banks or you know these these Bitcoin crypto focused banks I'm talking about large banks offering institutional custody of Bitcoin of digital assets for their clients check that off that's happening you have banks all around the world whether it's Panko Santander the news that came out today which is I wanted to cover this is Deutsche Bank is applying for a license to custody digital assets for their customers and then there and the third thing which has been like the big news of this year is the BlackRock spot Bitcoin ETF or now I would even I wouldn't even call it the BlackRock just a Bitcoin spot ETF those are the three things that Michael Saylor said needed to happen in order for Bitcoin to just go parabolic into this five million you know etc etc and those things are basically already happening like the FASB check that off right that was a huge does a massive deal so check that off the list that doesn't start that doesn't start going into action until the year 2025 then you have so that's the FASB ruling then you have banks large banks cussing Bitcoin check that off the list as well really the only thing out of those three things is the BlackRock spot ETF or sorry the spot I keep saying BlackRock maybe it's a Freudian slip the spot Bitcoin ETF how long will Gary Gensler be able to delay this he got absolutely hammered in in Congress there was a hearing this week so yeah I mean this is pretty crazy and it's really interesting if you've been here for a while you know Opti and I are class of 2016 Opti's class of 2017 but it's the same epoch really you know one of the narratives that existed when Bitcoin was falling you know it fell from 20k back down to 3k and one of the coping narratives all the way down was the institutions are coming the institutions are coming the institutions are coming I think you could say without a doubt that the institutions are here you can't deny that now the thing is do the institutions have the necessary infrastructure to onboard on to Bitcoin and I think that's an open question but you can't deny that the institutions want exposure to Bitcoin that's undeniable right we broke the news the other day that BlackRock had a lot of micro strategy had a lot of exposure to public to publicly traded Bitcoin mining companies as well right so it's some very interesting stuff now here's the thing though right so yes this number go up whoop -dee -doo but remember the revolution is individuals taking back financial sovereignty by taking Bitcoin into self -custody so just because you're buying a Bitcoin spot ETF for BlackRock's Bitcoin spot ETF do Charles Schwab or Robin Hood or whatnot that that isn't real Bitcoin that's paper Bitcoin that's an IOU the only way that you get true real Bitcoin is by you know buying Bitcoin earning Bitcoin mining Bitcoin and taking that said Bitcoin into cold storage right and then preferably the step after that is stop trusting someone else's copy of the blockchain run your own run your own node the one I recommend personally because it's the one I use is start 9 they're freaking awesome so definitely check them out if you're interested in running a Bitcoin node but yeah it's a very interesting times that we're living in but uh you know I don't think I've ever been so bullish how you doing Opti and we're in the the simply Bitcoin merch today bro you're modeling I love it yeah yeah it's uh it's raining right now it's it's officially hoodie season so you're raining but you're inside yeah whatever I feel like wearing a hoodie today if it's nice it's comfy I'm wearing this all the time get yourself one at simply Bitcoin calm yeah man it's hey let your boy live for once geez yeah crazy you're not in uniform bro you you went from collared shirts to hoodies what happened you're regressing well suits coming soon I had a conversation with Chris yesterday I missed that episode man I love Chris shout out the coin shout out our boys over a Bitcoin mag but yeah crazy uh crazy developments and we really talked about it yesterday as well pretty pretty extensively on the show of how it is undeniable that the institutions want your Bitcoin there is so much institutional investment and there's just so much capital waiting on the sidelines for everyone for to get a shirt into Bitcoin you know like all the biggest asset managers well not all of them but many of the big asset managers of the world are looking to get exposure to Bitcoin we're seeing huge banks do the same thing and it just goes to show you that you guys are early and we are on the precipice of an amazing bull run as far as I'm concerned and now is the time to be stacking sats it's still what 26k so like we got the best opportunity ever and I know everyone is losing their mind because this bear market's been so long but this is where legends are made anyways on today's culture I saw this a couple tweets from Tom Luongo and if you guys aren't familiar with him he's a great I guess you call him like he is kind of low -key a gold bug and I know he's kind of maybe loosely understands Bitcoin but he created this meme in and I really wanted to touch on it today because it kind of changed my views on what we've been talking about we're always talking about you know the normies out there or in the not so nice way you know the sheeple out there and he coined this new phrase about like the masses comfortable are our wolves and I really want to cover this because I think it does change the framing and it's a little more positive view on what's going on in the world and we talk about it constantly that people need to feel pain and once they feel that pain and they wake up man shits gonna get really crazy and it really does feel like this is where we are right now so you know just prepare yourself it's it's you know are we on the precipice of a global recession who knows are we you know are we currently in a depression I don't know the official numbers are lying to us but we know that inflation is higher than they want and your purchasing power is going down the drain and I have these conversations with a bunch of my Bitcoin friends and we're all feeling the same thing it's like man dude things are getting more expensive and it's only a matter of time until people start to ask what the hell is going on right now and this is why we keep planting the seeds here on the show you know in personal conversations with people in real life and it's like we have built the foundation for people to protect themselves to get on the exit boat get on the safety net which is Bitcoin so get on the Bitcoin standard guys get on the Bitcoin standard that's right just get on the Bitcoin standard get on the life raft and you know you be watching the world around you doing doing its thing but you know that your future your family's future your wealth your time your energy your work is protected by the largest decentralized computing sorry I'm laughing at the chat you guys are wild breath the Bitcoin numbers is your Bitcoin in cold storage really secure is your seed phrase really secure stamped seeds do -it -yourself kit has everything you need to hammer your seed words into commercial grade titanium plates instead of just writing them on paper don't store your generational wealth on paper papers prone to water damage fire damage you want to put your generational wealth on one of the strongest metals on planet earth titanium your words are actually stamped into this metal plate with this hammer and these letter stamps and once your words are in they aren't going anywhere no risk of the plate breaking apart and pieces falling everywhere titanium stamp seeds will survive nearly triple the heat produced by a house fire they're also crush proof waterproof non -corrosive and time proof all things that paper is not allowing you to huddle your Bitcoin with peace of mind for the long haul stamp your seed on stamped seed that's right ladies and gentlemen don't put yourself in a position where you have to explain to your grandchildren while you lost your generational wealth because you decided to store it on paper store your generational wealth on titanium one of the strongest metals on planet earth you could scan the QR code on your screen right now to take you directly to stamp seed website use promo code simply get 15 % off at the time of recording the Bitcoin price is twenty six thousand six hundred and forty sats per dollar three thousand seven hundred fifty four block height eight hundred thousand eight hundred and seven thousand six hundred fifty blocks to having thirty two thousand three hundred and fifty having estimate April 22nd 2024 total lightning Network capacity four thousand seven hundred seventy six Bitcoin capacity value a hundred and twenty seven million US dollars realized monetary inflation 1 .75 % the market capitalization of Bitcoin five hundred and nineteen billion dollars with a B Bitcoin versus gold market cap four point zero seven percent very very very nice all right good numbers overall you know I love my favorites that I always tell you guys this is the realized monetary inflation of Bitcoin 1 .75 % that number is going to continue to go down forever so it continues to take fiat currencies absolute school even if they get it to their targeted Holy Grail 2 % inflation you know it's not even gonna come close anyways I do have some ways you got my favorite number is block height cuz that number is going up forever Laura that that that number just it just makes an all -time high every ten minutes the matter what next block it's almost like a coin walk next block anyways here's a clip I have two clips for you guys here's a clip from SEC chair chair Gary Gensler and he said some interesting things at the hearing we're gonna play you some clips of this hearing as the days go by though so let's check out this clip and I have another one then we'll talk about it and help protect Americans from the crypto abuses that cost consumers billions if they were to live up to the investor protection built into their current laws it would help investors but right now unfortunately there's significant non -compliance and it's a field which is rife with fraud abuse and misconduct and help protect Americans from the so I I want a friend two things right I agree in a way and I agree in the sense that it is full of fraud it is full of abuse it is full of misconduct now the initial part and help protect Americans from the crypto abuses that cost consumers billions I'm gonna reframes that right from the crypto abuse that cost consumers billions fine you could say shit coins you could say this what about from the governmental inflationary abuse that cost people all around the world millions if not billions of dollars why is that never talked about and that brings me to one of Tucker's episodes that he did in Argentina he did an episode about a 10 -minute episode covering what's happening in Argentina he's gonna cover he's gonna interview Javier Maly Javier Maly is he is he's a hardcore Austrian economist libertarian he wants to end the central bank you know he wants to cut down on the administrative state all of that stuff he said some pretty crazy stuff not gonna lie Tucker's gonna interview him tomorrow but what was really interesting about Tucker's opening monologue which we're going to cover extensively tomorrow is he said the quiet part out loud the invade and inflation is deft politicians aren't productive the way that they raise money is through direct taxation but they could only do that for so long until people revolt so they do that through the hidden tax of inflation we must continue to chip away at this like you know peacefully of course but Chico chip away at this move the Overton window start get start getting people to ask the question what is money why does my money lose purchasing power is it necessary for my money to lose purchasing power that's when people are gonna start asking really big questions and remember they do not have a response to this anyways talking about shifting the Overton window here's Joe squawk five years ago you would have never have believed this we did have a a Bitcoiner who was a writer for Forbes and he got a bit upset when I said that the legacy corporate media changed their tune because of the black rock spot ETF and he said no that's not true I was working at Forbes from before okay I take his word for it he's a cable are news you trying to tell me that the interest from black rock to launch a spot ETF has not influenced their change of tune whatsoever I don't know about that anyways here's Joe squawk it's about a one -minute clip and then we'll talk about it and move on to crypto if you'd indulge me for a second because we always have these crypto conversations and there seems to be this thing happening I don't know Joe we were talking about $25 ,000 with Bitcoin meanwhile black rock and all these folks all the folks that we thought were never gonna do this are now doing it and yet it's not moving at all well it's moving today well I mean sure 26 this is 26 it was for when when we started saying it wasn't going anywhere 4 ,000 oh okay but so but the question is is this now a risk on a risk off thing what do you how do you even correlate this to what's happening with the Fed because for a long time used to talk about crypto in regard to the Fed so I think crypto settling as part of the ecosystem I think people have recognized it is not the new global currency people have also recognized not going to disappear tomorrow is becoming institutionalized and I think actually if I were a crypto person I think this maturation process is a good thing where it moves from day to day is I can't really comment on that I still think it's outperformed every asset one year five year and ten year I mean I think I think he's pretty jaded a little bit right like you know it's going to zero at 4 ,000 and mind you like Pete Russo does a great job doing this but like he goes back in time and finds like original posts of people which is why it's so important to zoom out when in doubt of people posting a Bitcoin isn't going anywhere and Bitcoin was at like $100 Bitcoin was at like $200 at the time right so like when in doubt zoom out obviously Joe is completely converted he's like why have we been talking about the short -term volatility when we started when we started covering this it was literally at $4 ,000 it's at 26 ,000 at the at the you know depths of bear market he gets it I mean and this is actually one of the things that has helped me orange pill as many people as possible it hasn't been me saying the bitcoins better money it hasn't been me saying like oh look you know separate money from state hasn't been me saying you know it's a deflationary currency blah blah blah blah blah blah you know it's been the biggest converter of people you plant the seed you say Bitcoin right they ignore you for like a couple of years and two three years later pass number goes up and all of a sudden you get that text from that friend that you haven't talked to you in a long time and he's like hey about that Bitcoin thing ng you is the biggest converter of people it is the biggest orange pillar in my opinion is the most effective way and clear you could see that with Joe right he was like hmm yeah I mean we started covering this was at 4k I don't know why you're talking about the short -term volatility what the hell's wrong with you anyways why are you pulling that up Opti oh it's from wine it's from wine anyways why what's why you know all the disgrace you've ever done and all the controlling calling me why it might be the worst no I'm just trolling love you wine anyways first and foremost you know shout out the Joe Kernen absolutely love to see him just constantly battle the corporate BS FUD around Bitcoin and and I say this all the time you know like number go up love it or hate it is the fundamental thing driving all a Bitcoin adoption there's that and then on the negative side all of the crazy stuff coming out from you know the bureaucrats out there we covered the g20 stuff where they're trying to roll out a digital ID CBDC central bank digital control mechanisms and these two things together are in my opinion the driving forces for Bitcoin adoption it's like you we say it all the time and and the memes been catching on Nico I don't know if you've been seeing it on Twitter but Bitcoin is slavery it's starting to catch on and people are starting to notice that it's not even hyperbolic anymore but anyways starting with the first video I totally agree with that congressman or whatever like crypto is full of fraud like what a hundred percent agree hence why we're Bitcoin only like there's Bitcoin and there's shit coin and it triggered the thought in my mind about I think I brought it up last week it was the idea I forget what video it was but we played something on in the numbers about the the scene versus the unseen consequences of economics and it's very clearly visible the scene consequences of crypto scams and it very easily noticed and you know it's always rolled out as like the detriment to the whole Bitcoin industry and those are the scene consequences obviously there's been a lot of people getting rug pulled getting you know losing their their life savings because of shit coin scams and so it's very easily an emotional thing you can roll out so people are like ah let's protect the little guy but as we've going to cover and I really thought you were gonna play that Tucker Carlson video that you put on your Twitter I'm sick dude I mean so I was divided I was divided about what I wanted to make the show I was like I was like are we gonna make it about Tucker are we gonna make this about the sailor I think the sailor thing I was I was much more excited about the sailor thing it's a little little thing came out in my head I'm like holy cow the three things that Michael sailor said needed to happen for Bitcoin to hit five million all of those things have happened they've all happened right so I was like we have to cover this we will cover Tucker tomorrow's really actually made a thumbnail for everything it was awesome but I guess I guess you know we'll put we'll put a pin on that thought but tomorrow remember we're gonna be talking about the unseen consequences of money printing and that always gets obfuscated it always gets lost on people because it's not like a linear connection you know like you you gotta you know there's some nuance to this and most people can't think past like 20 seconds you know ADHD or whatever like we're all being inundated with so much dopamine from from social media that we either tune out or it just like it doesn't seem like it's important and and I can see people in the chat saying the same thing that we always hear is like once you start talking about Bitcoin once you say the B word people instantly tune out and it's only a matter of time until people wake up to what's going on here so you know plant those Bitcoin fundamentals into people's minds without using the B word usually helps and and goes a long way and then you find like hey you know have you heard about Bitcoin here's the pill take it but yeah man it just it just goes to show that the world is waking up and every metric that I'm seeing is pointing towards the fact that I think in 2025 more people are going to wake up to the scam that is Fiat and of course the safety boat that is Bitcoin and hey we're here for it so I'm I am super excited yes yes hold on hold on Arthur you can buy our merch with Bitcoin if you so want to yeah exactly go and go click scan the QR code it'll take you directly to the website and you could you could pay you pay in Bitcoin I think a lot I think wine set up the lightning yeah yeah yeah we got you got we got you guys back we got you guys rep some simply Bitcoin merch anyways so yeah man it's a really really exciting stuff alright guys let's jump into the news we got a lot to cover today before we get into news actually right now we are currently sitting pretty at 70 likes help us maintain our streak let's break a hundred likes within the out first hour of the live stream so if you're enjoying the show make sure to smash that like but it smashes mess mess wait wait wait can we do a legacy smash the like button Nico something like that anyways guys let's get to the news the daily news I want to give a shout out to our sponsor foundation devices it's self -custody done right they built a premium grade hardware wallet called passport right here in the u .s.
Thinking Crypto News & Interviews
Fresh update on "schwab" discussed on Thinking Crypto News & Interviews
"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, I want to start off by talking about scumbag regulator, Gary Gensler and the SEC blocking Coinbase in their role in the Celsius network bankruptcy restructuring. This is big news, folks, because it once again shows that Gary Gensler does not care about retail investors or investors at large. He just cares about power and his next job. And the SEC has fallen far from their core mission of protecting investors. Let me give you the details. Here's the headline being reported. SEC raises concerns on Coinbase's role in the Celsius network bankruptcy restructuring. The Securities and Exchange Commission filed papers raising objections to crypto firm Celsius Networks plan to distribute digital assets to customers as part of a reorganization plan through Coinbase Celsius, which filed for bankruptcy more than a year ago, will seek bankruptcy court approval for its restructuring plan in the coming weeks. Under Celsius's proposed plan of reorganization, Coinbase will provide brokerage and master trading services to Celsius, engaging in activities that prompted litigation by the regulator, which is still ongoing, according to court papers filed by the SEC in the Celsius Chapter 11 case on Friday. The regulators sued Coinbase earlier this year, saying it operates an unregistered securities exchange. So once again, folks, we see that Gary Gensler doesn't care about you or other investors. This is about his power. We know he's unfairly going after Coinbase. The SEC greenlighted Coinbase to do an IPO review their business and much more now is trying to sue them for the same business activities that is asinine. But we know the goal, folks, what we've been talking about for a very long time is that Gary has been weaponized by the tradfi incumbents who want to stomp out crypto startups like Coinbase and others, right, kill them, kick them out, not kill crypto, but rather push these startups out so that his friends on Wall Street, BlackRock and JP Morgan and so forth can come in and take over. Because in parallel with the enforcement actions that Gary has been putting forth, we see BlackRock entering the market, right, Citadel, Charles Schwab and Fidelity launch a crypto exchange and many other big players getting involved. So how can these two things be happening in parallel, right? One hand, Gary is saying this entire market's full of hucksters, scammers, yada, yada, yet I see the biggest institutions in the world and from Wall Street launching crypto services and exchange services in custody and much more. It doesn't add up. So it's clear as day what's happening. And the fact that he's trying to block this, right, when it will help the Celsius investors to make them whole, it shows he doesn't care about the investors. He doesn't care. He just cares about his fake lawsuit here against Coinbase.
Simply Bitcoin
A highlight from SEC Delays Spot Bitcoin ETF Including BlackRock | EP 815
"Welcome to Simply Bitcoin Live, we're your number one source for the peaceful Bitcoin revolution. We cover the breaking news, culture, and medic warfare. We will be your guide through the separation of money and state. The SEC delays the Bitcoin spot ETF once again. Is it really surprising? I don't think so. I was talking about this on Simply Sessions last night on the BTC Sessions channel, which we also stream on the Simply channel as well. At what point do you believe that Gary Gensler's motivations are political? We know what was happening with the so -called Operation Shook Point 2 .0, which is according to the people that were reporting on this theory, which is the idea that the US government was trying to isolate the traditional financial system from the Bitcoin and altcoin industry. Now obviously, you guys know how we feel about that on Simply Bitcoin. We've had Caitlin Long come on the show. She said it, not us, that her bank was denied a federal banking charter, which would make on her competitive a national level banking -wise. And she said that that order came directly from the White House. We also know, based on the numerous reports, whether it's the presidential economic report released by the White House, whether it's a report that was released by the US Treasury, how the Biden administration feels about the Bitcoin and altcoin industry, how they want to push forward a central bank digital currency, how in their eyes there is a necessity for a central bank, and how they're big fans of a central bank digital currency. And then coincidentally, around the same time that this is happening, the American version of a central bank digital currency was officially launched, called the FedNow. Now they're saying that it's not a central bank digital currency, but I don't really trust them. So how long are they going to be able to delay this spot Bitcoin ETF? I don't know. But Michael Saylor was tweeting, you know, in celebration about how Grayscale won the lawsuit against the SEC. And I guess that's a step in the right direction. Look, as a Bitcoiner, I'm divided about the ETF for two reasons. I think it's definitely going to be positive for the price, but it also could lead to rehypothecation. This is something that we've covered in depth. I had an episode with Lawrence Lippard and Caitlin Long covering this particular subject. And yeah, look, I had a tweet pinned to the top of my profile for the longest time and it basically said that if enough people take self -custody, we'll win this thing and there's nothing they can do about it. So the dangers of a spot Bitcoin ETF is people get very comfortable. They open their Charles Schwab account, they open their Robinhood account, and they're like, look, I bought Bitcoin. That's it. But they're not really benefiting from the value of Bitcoin, the value of self -sovereignty. And that's how things change.
CoinDesk Podcast Network
A highlight from THE HASH: Court Rules SEC Must Review Rejection of Grayscale's Bitcoin ETF Bid, Bitcoin Jumps 5%
"This is the hash podcast. Stay informed with the latest on Bitcoin, ETH, the metaverse, web3, and more. All on the hash for your ears. You're listening to the CoinDesk podcast network. We got some big news today. It's also Taco Tuesday, and since it's going to be our last Taco Tuesday, you better get ready for some actual tacos. That's a major news, but there is also real major news, and I'm starting us off today. Here we go. Let's go over to Grayscale. An appeals court ruled just today that the SEC must review Grayscale's ETF bid after they were previously rejected. It's being seen as a victory in the prospects for getting a spot Bitcoin ETF into the marketplace in the US, and the market is responding enthusiastically. Bitcoin surged on the news, adding quite a bit of value, and now we're seeing some further chatter about what this means for the prospects, again, of the long -awaited Bitcoin spot ETF. This note, Grayscale is a sister company of CoinDesk. They share ownership from Digital Currency Group, but we're going to talk about it. Gloves off, no holds barred anyway. I'm so excited, you guys. This is the absolute best news ever. The fact that we continue to see the SEC take these massive L's is music to my ears. I really, really feel that they have just been so predatory in their actions and wanting to litigate instead of give some sort of guidelines, help these honest entrepreneurs know what they're supposed to be doing and know what they can't do. To me, that's just super problematic behavior. We should want to support entrepreneurs. We should want to guide people in the right direction, and more importantly, we should want to build back the American economy better. I think with all of these massive wins the crypto industry is seeing, things hopefully will get better. All right, Will, you can take it now. This does not mean the ETF is going through now. It just means that the SEC has to go back and review the application again, and they have to give an actual opinion. There's a few lawyers on crypto Twitter talking about this this morning, what does this actually mean? What did the judge actually say? They basically stated that the SEC did not have a good basis for making its past decision, and now they need to go back to the books, relook at the application, and come up with a better decision, whether that means that this is going to be approved or not, we still have to wait. This probably means it's going to be approved because there's a lot of political pressure now on the SEC after a judge took a look at this and said, you know what, guys? You didn't do your homework. You should have let this pass, or you should have put some more thought into why you didn't want this to go through, and you didn't, so we're kicking it back. Go study the books, and maybe we'll get something out of this. Now, of course, what's on the line? A lot of ETFs are out there. A lot of people are lining these things up. I'd say there's about a half dozen plus ETFs that are possible to move forward over the next 180 days or so, and if that opens up, that means a lot of mom and pop retail investors can get into the Bitcoin market for the first time because they probably weren't comfortable touching Bitcoin in other ways. There's lots of different ways to get exposure to Bitcoin. There's lots of different ways of purchasing financial assets, but an ETF itself means that you can put Bitcoin into your 401k, into any sort of trust with a Schwab or Fidelity, something like that. That means that maybe coin go up. Who knows? A little speculation there. It could have some more apathy because the crypto markets right now are not great, but a lot of people in the crypto industry are looking at this and saying like, this could be our salvation from the depths of crypto winter. Jen? So I look at this court ruling in favor of Grayscale and the partial ruling in favor of Ripple, and I think that there's a glimmer of hope, right? I think that these two cases show us that maybe this clarity we're seeking from the SEC, we are not going to get, but some of these decisions are going to be made in the court, and some of them may lead to precedent setting decisions down the line, or they may at least force the SEC's hand so that we can get some more clarity. So good news all around. I want to point to one of the lawyers who have been commenting on this, who has been commenting on this on Twitter this morning, Jake Trevinsky, who's the chief policy officer at the Blockchain Association. He said that it's rare for a federal circuit court to make a decision like this and said that there are two ways that this could possibly go. The SEC could come back and just provide another reason for rejecting it, or they could say their hand was forced by the court, and so they're going to do it, but it's not because they wanted to do it, but they were forced by a judge. And so it will be interesting to see which way they go. I think it's important to note that an ETF has not been approved, but I think it is definitely a step in the right direction. Zach? Yeah, there's a lot of speculation that once one gets approved, several will be approved, right? So we have the BlackRock one, we have a bunch of other ones, I forget all the names, but there's a ton of Bitcoin spot ETF proposals that are sitting for rejection or approval. And I think the ETF watchers out there in the world have said that maybe when one gets over the finish line, others will likely also get over the finish line, such that SEC isn't seen as picking a winner and giving an unfair advantage to one applicant over the others. So I think that's why there is sort of this buoyant sentiment across the space as a whole. This isn't necessarily just a win for Grayscale, it's potentially a win for others such as BlackRock and others in the space who are looking to offer this product to, again, mom and pop investors who want it in their brokerage account and don't want to have to deal with the nonsense of dealing with the crypto itself. So that, I think, is why that sentiment is out there, why the market has reacted pretty positively. Bitcoin's up about 5 % on the news, a nice little surge given that Bitcoin has been pretty flat around 26K for the last little while now. So interesting to see what's going to follow this, but yeah, definitely the SEC may have taken an L on this one while they fight other fights and may rack up dubs on those ones. And I think we'll talk about that in a little bit. Who wants next? Oh, we're talking about that right now, Zach. NFTs. Sure, let's do it. Yeah, they've entered the chat. So the SEC has issued its first enforcement action targeting NFTs. The regulator ordered Impact Theory, an LA -based media company that raked in nearly $30 million from selling tiered NFTs to compensate investors, arguing that the transactions were illegal, unregistered securities, offerings, Impact Theory has agreed to set up a fund to reimburse investors, destroy remaining NFTs, and they will pay a fine of $6 .1 million. Wendy, going to toss this one off to you. What do you make of the SEC's first NFT enforcement action? We all knew that this was coming. The reason why we knew it's coming is when we're talking about NFTs, people like to call them digital assets or digital collectibles, but that's just really skirting around what an NFT actually is. It is a token. It is a little adorable little token that kind of just lives on that blockchain that's just kind of there, just kind of chilling. But it really depends the way that these entities are set up and how they're using the NFTs, because let's face it, when we do talk about collectibles, again, I was an eBay seller, I would go to thrift stores, I would buy used designer vintage goods or things that I saw that were in style that I knew I was going to be able to flip. Because I knew I was going to be able to flip and make money off of them, it kind of makes you think, is this a security? Is this not a security? But in fact, it's just a tangible good. But that's the kind of the way that I view NFTs. I literally view them as collectibles that you can buy and then you hope that they appreciate, but you're not 100 % sure if they're going to appreciate. For this particular lawsuit, I forget exactly how the company went about it. I'm planning on doing a video on my channel about it, YouTube, CryptoIndio, go subscribe. But I do think it's very interesting. I think we're going to see a lot of other NFT projects get hit. And it's very important if you do plan on launching a project, you probably should obtain some sort of legal advice, just so you have some sort of guidance and just have some basic understanding of the law. Because again, you guys were in very, very uncharted territories. Will, what is your thought about these adorable little single tokens that kind of just live on the blockchain? Are they securities? What's going on? What about the tchotchkes, as Zach would say? I like the tchotchkes, depending on if they're penguins or not. No. Okay. So I think this case specifically more refers to how this NFT rollout occurred. I did see some people, including Zach BTC, who's sort of like the on -chain sleuth of the last cycle, talking about how this NFT drop had some dubious parts about it. And that's why they saw this case going forward, right? This is the first one we've seen with an NFT. So there's that. On the other hand, looking at the dissent from Hester Peirce and others at the SEC who were judging on this decision, they thought it was a little odd to come after a single NFT case. Why? For the reasons Wendy just sort of laid out there, right? We have art markets. We have designer bag markets. People sell these things on street corners, so we're not going after them. But the SEC in this case decided to go after it. I think it does fit a longstanding pattern for the SEC that enforcement actions target select groups and select people where they can have easy case wins. And then that sets sort of like a precedent for the rest of the industry, right? They go after the Ripple Labs, they go after this NFT case, they go after a library. They go after the ones where they think they can sort of win. In the case of Ripple Labs, they have a lot of money, so I don't know how it was the best target because that one's been hauled up in court for the better part of three years. The library one was sort of a slam dunk though, right? They like won that and the library didn't have enough money to go back and fight against them. So they've basically been on a social media campaign. And I think with this SEC one here, you know, it's NFT market, they just had to like put up with it. They had to pay disgorgements and let it go. And that's the case. Now for all these NFT creators out there, they have to think about these things a little harder than they were previously. If that's good or bad, I don't know. I don't love the strategy. The SEC has been walking out for the last few years. I think we've all opined on that a lot in this show. But there is something to saying maybe we should have like a little bit more consumer protection with some of these new markets are popping up. Permissionless innovation is great, but that also means that you have permissionless rugging.
Thinking Crypto News & Interviews
A highlight from BIG CRYPTO NEWS! COINBASE CIRCLE USDC, SEC GARY GENSLER GEMINI RIPPLE XRP & CRYPTO REGULATIONS
"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 got some very big news today between Coinbase and Circle. So Coinbase acquires a stake in stable coin operator Circle and USDC adds six new blockchains. The center consortium jointly managed by Circle and Coinbase is being shut down and Circle is bringing issuance and governance of the USD stable coin in -house. So this is a big move, but it actually doesn't surprise me because we've seen Coinbase embrace USDC. They offer some APY, staking, yield, or whatever you want to call it, interest on USDC. I personally do that through Coinbase, so I'm earning some really great returns there. So big partnership, and I think this is a move to combat Tether. I think Circle being the largest stable coin in the United States, it's regulated. They use US treasuries as part of their reserves and Coinbase being the largest crypto exchange in the US that's regulated in public. It makes sense for them to come together and really make a push here for a global dominance, so to speak. And we got a lot of competition playing out in market. That's great, right? And it's also a move, I think, to combat PayPal's new stable coin, because as you can imagine, PayPal has huge branding, huge reach outside of crypto, and they have millions of customers. So Circle, I think, needed to make this move to go up against Tether and PayPal. And here's what the folks at Coinbase tweeted out. Today, Coinbase and Circle announced a few updates to USDC. Stable coins will be a key component of a new financial or a new updated financial system, and we look forward to helping unlock additional utilities and growing the USDC ecosystem. Expanding networks, USDC will be launching on six new blockchains for native support. Coinbase has taken an equity stake in Circle to continue our alignment and investment in long -term success of stable coins and specifically USDC. We have streamlined operations in governance with Circle having full responsibility and accountability for USDC as an issuer. For Coinbase customers, there will be no changes to the USDC on Coinbase, and Coinbase will continue to support USDC across all platforms with all the same benefits you enjoyed today, including gas -free transfers and rewards. So big update, my friends, and once again, this is a strategic move by Circle to combat Tether, which is the largest stable coin in the world, and PayPal's new stable coin. And as you can imagine, there's other players that are going to be entering the stable coin wars, and we're going to see possibly Amazon, possibly Google, we'll see. It would really make sense for Amazon to have a stable coin given the amount of customers they have. They have an e -commerce platforms where people transact. They have a prime membership subscription, and they could easily create something called a prime coin that's a stable coin base, and boy, would that go a far way. That will give a lot of these stable coins a run for their money, but I love it. This is what we want to see, competition in the market, and that's usually really good for users and customers, so great big strategic move here by the folks at Circle and Coinbase. Now quick word from our sponsor, and that is Uphold. Uphold is a great crypto exchange that I've used since 2018. They have 10 plus million users, 250 plus cryptocurrencies, and they're available in 150 countries. You can also trade precious metals and equities on Uphold. If you'd like to learn more about this platform, please visit the link in the description. Well, folks, Gemini is looking to dismiss the SEC lawsuit claims accusations are flawed. The exchanges lawyers argued that the SEC hasn't provided key details about alleged securities such as sale date or parties involved making its case a week against Gemini. Of course, what can we expect from scumbag regulator Gary Gensler? They continue their same old nonsense. They're not giving any specifics. They're not giving any clarity. It's just a bunch of ambiguity. It's a bunch of gotcha type of moves, right? They'll ask you to come in. Oh, come on in. Don't worry about anything. They'll grab a bunch of information about you, and they don't meet with you in good faith, and then they'll stab you in the back, right? Even Coinbase CEO Brian Armstrong mentioned about this. He tweeted out the SEC has been acting shady about a year and a half ago, and I think it's going to kill these crypto startups so that his Wall Street banking buddies can come in and take over the market. We see many of them are filing for Bitcoin spot ETFs. They're launching their own crypto exchange, right? Fidelity, Charles Schwab, Citadel launched their own crypto exchange called EDX Markets. So it's pretty clear what's happening. Attorney John Deaton weighed in on this, and it's pretty long his thoughts, but it's really good. He said SEC lawyers like Jorge Tenreiro and SEC enforcement director have learned nothing from the Ripple case. Their arrogance is mind blowing. In the Gemini reply, Cameron and Tyler state the fact that the SEC cannot decide what is the security at issue only underscores the weakness of its position. It also violates fundamental fairness and the requirement of fair notice. In other words, the SEC makes up new arguments disregarding any previous argument in made early in the case that my friends sums up the SEC and its approach to litigating crypto assets. As we learned in the Ripple case, the SEC is 100 % transactional in its arguments, always shifting its theory or position. And he goes on to highlight how, you know, they are hypocrites on regarding the bill him in speech. Remember, they tried to have it both ways. And Judge Sarah Nemper and a judge said this about them, that they lack faithful allegiance to the law. It's pathetic what the SEC has become. They're rotten at their core, and it needs to be revamped, disbanded, whatever it is. Congressman Warren Davidson had a good idea by getting rid of the chairman's seat, having a board and have an executive director instead. And, you know, the it will be much better that way because you have these corrupt bureaucrats like Gary Gensler coming in and you have political agendas when they're not supposed to. It's pretty insane what's happening. So here's the thing, though, my friends, the courts are the balance of power here. What we're seeing, as you know, as we saw in the RIPPLE lawsuit, the judges are not putting up with the bullshit from the SEC because they don't have time for that. They follow the law. And, you know, they are, for the most part, siding with the crypto companies. We saw even in the Coinbase lawsuit, the judge was also throwing out comments like, what is a security and what is not? You haven't provided any guidance. You're just saying, hey, they sell unregistered securities, give an example. But of course, they won't do that. And of course, with the Ethereum situation, they can't even mention Ethereum because Bill Hinman, we know he was bribed essentially to give Ethereum a free pass. And I hope he sees the hands of justice coming after him. But, you know, we'll see what happens. And Jay Clayton as well. Now, Ron Hemmen of the Blockchain Association, who's a frequent guest on the podcast, he gave an update here regarding crypto regulation and what we can expect. So he said this week in Congress and crypto, two weeks until Congress is back in D .C. And they have a large number of issues to tackle when they return, including crypto. Earlier this month, Representative Mike Flood hosted his fintech flyover with experts and policymakers. Here's what we learned. The first ever fintech flyover was in Lincoln, Nebraska, and was a very substantive crypto policy summit. A full day of panels from experts such as Tiong Wei, if I'm saying that right. She's partner and head of regulatory policy at Bain Capital Crypto. Dan Nunez of Crypto .com. Jared Favel of Circle.
Tech Path Crypto
A highlight from 1212. Trump Crypto Portfolio | FULL BREAKDOWN
"All right, so today we're going to dive into Ethereum and also into President Trump and his whole plan of maybe how to go into NFTs, cryptocurrency as a whole. This will be a good one because I think it'll start to paint out a narrative that a lot of you are going to want to pay attention to. My name is Paul Baron. Welcome back into Tech Path. All right, let's get into it. And there's a lot happening today. We'll have a few clips for you as well, so make sure and stick around for those. It's going to give you some narrative on not only Ethereum, but also some other projects out there that I think you'll be interested in. Before we get started, I do want to thank our sponsor, and that is iTrust Capital. If you're looking at long -term holding, iTrust is the way to go. You can get into crypto IRAs over there. You can do Ethereum, Bitcoin, get into precious metals, all sorts of things. You get to direct your own trades. All of that is available to you. No monthly fees. It's very easy to join. Just click the link down below, and you can get started. Plus, you'll get a $100 funding reward, so take a chance and go that direction. Let's go into a couple of things here I want to get into, and one of them is a report that is done. It's called the Executive Branch Personal Public Financial Disclosure Report. I'm going to zoom in on this just a little bit so we can go through some of the highlights our team was able to go through and kind of break down where President Trump is getting his investments from, where his revenue is coming from, all those kind of things. All right, so as you can see here on this first one, license agreement with Parler for the sale of NFTs, collectibles, all of this is available over on Parler. So again, $380 ,000 for that. Further into his investments, you've got BlackRock, McDonald's flowing into here. A lot of corporations, BlackRock, Exxon, JP Morgan, McDonald's again, Nike, Pfizer, further into there, Starbucks, Coca -Cola, Visa, Apple, et cetera, and the reason I bring up some of these investments is because it starts to kind of set the narrative of where Trump as the candidate potentially for president is getting his income from. Of course, another area is U .S. Treasury, so he likes the dollar and obviously dividends. This is the traditional way that people with a lot of money will be able to go out and kind of generate more money. The other aspect is the fact that he is investing in this area around NFTs, and of course, all of that being driven by Ethereum. So further into his disclosures, again, more U .S. Treasury bills, and then down here you're gonna see a lot of this under his family trust, and this gets into everything from his brokerage accounts, which are his money markets, a couple of other aspects within there, including some other funds, Vanguard, SDPR, BlackRock, JP Morgan, all the way into Schwab, et cetera. So typical investments, nothing new here other than obviously what we had saw with the early part of that with Parler, but the other aspect is what everybody has been reporting on is this cryptocurrency wallet, and that's around 250 ,000 to 500 ,000 right now in Ethereum. So holding no other crypto asset other than ETH. And then of course, let's see, what else? Oh, last up, he gets some speaking engagements from Cardone Enterprise. Of course, we all know that. So man, a million dollars from that, that's crazy.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1368: Michael Saylor - Should We Trust BlackRock with Bitcoin?
"In today's show, I'll be breaking down the latest technical analysis as Bitcoin trader reveals important Bitcoin price zone as the bulls hold on to $29 ,300. Also breaking news, Sam Bankman free jailed for tampering with evidence. I'll be breaking down all these recent details just announced as well as the SEC punts on ARK 21 share spot Bitcoin ETF as well as PayPal US dollar stablecoin will have a massive impact on Ethereum. We'll also be discussing one catalyst which can trigger the next upward move for Bitcoin predicts Glassnode co -founders as well as Michael Saylor predicting that BlackRock Citadel Fidelity will send the Bitcoin price to a million dollars per coin. Also Michael Saylor, who was recently interviewed by Natalie Brunel on the Coin Stories pod was asked, should we trust BlackRock with Bitcoin? You'll be surprised to hear what he had to say. We'll be discussing 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 crypto news alerts .net and welcome everyone. Just joining us the pod episode number 1368 I am broadcasting simultaneously right now on YouTube and rumble. Make sure to make some noise in the live chat. Let's kick off today's show with our market watch. We can see many of the cryptos currently correcting back in the red. We got Bitcoin trading at roughly $29 ,300. We have ETH down a quarter of a percent trading at $1 ,842 and checking out coinmarketcap .com. The current crypto market cap sits at $1 .17 trillion with $23 billion in volume in the past 24 hours and checking out the top 100 crypto gainers for the past week. We can see a mix of C, you know, red and green. We have some of the biggest losers including Hex and XDC and GMX with some of the top gainers Shiba and Rune and checking out the crypto greed and fear index. We're currently rated a 51 which is neutral. Yesterday a 53, last week a 54 and last month a 64 in greed. So there you have it. We have Bitcoin facing a new battleground as the bulls and bears fight for control of a sideways market and part of his latest analysis on August 11th, Dan Crypto Trades flagged the key level to reclaim the Bitcoin price support and with Bitcoin price breakouts continually failing both the Bitcoin bulls and bears are caught in a strongly contested range. This is the culmination of various trips above and below the current spot price making the midpoint the level to watch out for next. Now the status quo has recently remained the same since mid -June 28 .5 as fundamental support 31 ,800 as resistance and quoting him here, pretty clear that the 29 .5 to 29 .7 region is an area that is strongly contested by the bulls and the bears. It's an important area to keep watching and an accompanying chart showed Bitcoin nonetheless fighting to return to above that range low with little significant historical support lines between 28 .5 and 29 .5. Now the analyst thus ties in other perspectives from recent weeks. These likewise focusing on 28 .5 or slightly lower as a downside target and focusing on the short term Bitcoin price events fellow trader Sku highlighted just how frantic the mid 29 zone currently is for Bitcoin quoting him here, Bitcoin and now they're puking the bag. Now also continuing Sku described the spot price action on the four hour timeframe as we despite holding above various exponential moving averages as he shows here, tight price compression here, likely a 5 % plus price reaction is coming from here. So there you have it. And now for some breaking news which just came in right before I decided to go live and that Sam Bankman freed his, I guess his, what is it called? His bail was revoked and he was sent to jail for allegedly tampering with evidence. So let's discuss this as there's so much breaking news coming in. Exciting times. So here we have it. Sam Bankman freed jailed for tampering with evidence. United States district judge issued the ruling Friday afternoon on prosecutors request to revoke SPF's bail after they accused him of trying to intimidate a witness and a run up to his trial. Freed was previously serving house arrest in his California home. The freed use of the private VPN while on house arrest was also brought into question. Prosecutors say that freed shared confidential documents belonging to Caroline Ellison with the New York Times. This activity was part of an ongoing media strategy at the ruling judge said that all things considered, I'm going to revoke his bail. Bankman freed who has pleaded not guilty to multiple conspiracy and fraud charges is set to go to trial in October. His case is widely regarded as one of the biggest cases of fraud in US history. You can't make this stuff up, folks. How many of you are actually pretty excited on this news seeing Bankman freed's, you know what I mean, bail be revoked and be sent to jail? Let me know your honest thoughts in the comments below. As more news comes, I'll be sharing it all for you to keep you up to date with what is happening if anything new comes in. And now for our next breaking story of the day, it's the SEC punting the ETF of ARK 21, which is Cathie Wood of ARK Invest. We'll be breaking this down, followed by the latest with PayPal and the stablecoin, all the latest news surrounding that, followed by what's likely Bitcoin's next big move. And we'll also be discussing the one million dollar price prediction from Michael Saylor, as well as Michael Saylor's thoughts on BlackRock. And if he trusts BlackRock with Bitcoin, it's very interesting to hear his response to Natalie Brunel when he was recently asked this question on the Coin Stories pod. And of course, we'll be ending the show with our live Q &A, which we do each and every day. So yeah, now let's break down this next story of the day and shout out to everyone out there in the live chat. Much love, much respect. The US SEC has delayed a decision on approving or disapproving the spot Bitcoin ETF proposed by ARK Invest. And in August 11th notice, the SEC opened the 21 day comment period for the ARK 21 shares Bitcoin ETF to the public following a publication in the Federal Register. The latest delay for the regulator determining whether to approve or disapprove a spot crypto ETF in the United States. Now ARK originally filed to list ETF back in May, giving the SEC a maximum of 240 days, which would be until January of 2024 to reach the final decision. Quoting them here, the regulated market of significant size test does not require that the spot Bitcoin market be regulated in order for the commission to approve this proposal. The precedent makes clear that an underlying market for a spot commodity or currency being a regulated market would actually be an exception to the norm. Now ARK Investment Management is one of the many firms in the US applying to get a spot crypto ETF listed on a regulated exchange. We also have BlackRock, the largest asset management firm in the world, notably sent in its own application back in July. And a number of other firms also amended existing apps to include crypto exchange Coinbase as a surveillance sharing partner following reports that the SEC officials could be more open to accepting an ETF under those conditions. So there you have it. In a previous episode, we discussed, I believe it was Novogratz, predicting that a spot Bitcoin ETF is likely to get approved in the United States within the next four to six months. What are your thoughts? Do you think it's likely to be approved potentially this year or first quarter of next year before the Bitcoin halving scheduled for April of 2024? Let me know your honest thoughts in the comments right down below. And now let's break down our next story of the day and discuss everything with this PayPal stablecoin. Even Charlie Schramm is bullish. He said this can send the Bitcoin price to $250 ,000 a lot sooner than anticipated. But it all could also obviously impact the rest of the crypto market, including Ethereum. Bloomberg Intelligence crypto market analyst Jamie Kautz predicts PayPal's new stablecoin will have a huge impact on Ethereum. Kautz says that there is a massive growth potential for Ethereum, even if just a small percentage of PayPal's existing customer base adopts the stablecoin, which aims to keep a one to one peg to the U .S. dollar and is built upon Ethereum. Quoting him here, the PayPal announcement is not priced in. PayPal has four hundred and thirty five million active accounts versus Ethereum layer one and layer two active addresses at one million. If one percent convert a dollar balance to the PayPal stablecoin, which is P .Y .U .S .D., which would be four point three five million and begin to use it, then the ramifications for the Ethereum ecosystem and ETH, the asset are massive. I mean, numbers don't line as outlined here, you can see the current active users and addresses. Now, Kautz also said that the bullish he is bullish on layer one smart contract platforms after the expansion of layer two projects had less of an adverse impact on ETH's financials than he expected, as he shows here. The dual surprise of faster layer two adoption and less than expected cannibalization of the layer one financials has our confidence in Ethereum's potential to accrue more value than alternative layer ones over the cycle. The analyst says that each sideways price action doesn't tell the full story of all that is going on within the ecosystem, including network developments and increased Ethereum stake and quitting him again, flat price, mass and proven value accretion. Number one, network is back on growth trajectory, driven by growing layer twos and less severe monetary tightening. Number two, mostly deflationary, despite the bear market. And number three, despite cooling activity, ETH stake accelerated up 38 percent in just three months. And according to Kautz, ETH's accumulation is increasing during the stalled crypto market. As outlined here, while activity is down, investors are nonetheless demonstrating aggressive accumulation behavior. The total number of non -zero balance addresses exceeds 100 million, with over 1 .7 million wallets containing at least one ETH. Now, Kautz notices that each network is generating 3x the amount of revenue compared to the fourth quarter of last year, as shared here. Depending upon your framing, the dollar value of the network GDP slash revenue, while down significantly from 2021, has increased 3x from the fourth quarter 2022 low and is now outpacing the price. Layer one generates approximately 6 million in fee revenue per day. Eighty percent is burnt, which is a buyback, and the rest is paid to validators. So there you have it. Are you also bullish on the news of this stable coin coming out by PayPal, considering they have over 400 million active users, which can help usher in massive adoption for crypto, including the King BTC? Let me know your honest thoughts in the comments right down below. And now let's break down our next story of the day. And that's Michael Saylor, actually, before we get to Saylor's million dollar prediction and his thoughts on if he trusts BlackRock with Bitcoin, first, we've got to discuss the latest from Glassnode Analytics with the next big move for Bitcoin. So first, let's break this down. And again, say hello in the live chat. Let me know where you're tuning in from. And if you have any questions at the end of the show, we'll be reading everyone's comments out loud. The co -founders of crypto analytics platform Glassnode are forecasting that one catalyst can kickstart the Bitcoin next rally. Glassnode co -founders Jan and Jan, who share the handle, tell their 55 ,900 X followers that if the relative strength index indicator falls below 37, it can trigger a Bitcoin rally. Send it. The RSI indicator scales from zero to 100. And a reading of below 30 is typically considered bullish, while a reading of over 70 is typically considered to be a bearish sign. And according to Glassnode co -founders, there are potential buyers waiting below and around the 28 ,500 support level as shared here, Bitcoin's potential retest of 28 ,500 bottom indicated by the RSI. The bears are holding sway with RSI between 37 and 50. Sub 37 RSI can trigger a strong reversal and demand shows up between 28 ,500 and 27 ,800. Is this the catalyst for the next upwards move? Let me know your thoughts. Now, turning to alts, the Glassnode co -founders say that unless a surprise catalyst comes up, the alts are only likely to rally after the summer as they struggle amid a dip in the Bitcoin price as shared here. Despite Bitcoin's bullish move past 30 ,000 this week, will it continue? Altcoins struggle except for standouts like Solana. We have TonCoin and Hedera showing gains of 6 to 9 percent overnight. As Bitcoin dips, altcoins will feel the pressure unless the surprise catalyst emerges. We are waiting for that strong push, possibly post summer. So there you have it. Let me know if you agree or disagree with Glassnode analytics and how many of you are currently bullish on the King crypto. Let me know your thoughts in the comments right down below. And when do you think we'll break past the current annual high of 30? What is that, 32 ,000? Let me know. Do you feel it's likely to happen sooner than later, or do you think we could continue some sideways trading action until the end of this year? Let me know your honest thoughts in the comments right down below. Now let's break down our next story of the day. And that's Michael Saylor's one million dollar Bitcoin price prediction as a result of all of these recent ETFs, which can soon be approved by the SEC. Here we go. Michael Saylor actually shared this a few weeks back on the which one was it? The Altcoin Daily podcast. And I transcribed it for you so I can read it for you right here. Here's what Saylor had to say. It looks like a spot ETF will probably get approved. There is massive political pressure to approve one. The circumstances have changed and now there is a way for the SEC to approve it without backtracking on its previous legal and policy guidance. Certainly there has are a lot of Wall Street entities that have a vested interest in seeing this happen. If you're an institution, one way to get Bitcoin exposure is to buy the underlying asset. But there have been challenges with finding the right exchange to buy it on and custody arrangements. So a simpler way to do so simply by the spot ETF. There are trillions of dollars of capital that is required to invest in a security that trades in these compliant forums. And that is understating the obvious. There's tens of trillions of dollars. So there is a lot of capital that can't buy the Bitcoin or self custody of the Bitcoin. They don't want to do charter. Maybe it's against the tax code. Maybe when they raise 10 billion dollars from public investors, they raise it to invest in securities, but not interested in property or commodities. So the spot ETF availability is a major milestone for institutional adoption. The approval of a spot ETF is a major milestone in regulatory clarity, which is tantamount to an endorsement. The engagement of Fidelity, Citadel, Black Rob Schwab, I mean Schwab is synonymous with Wall Street, 100 years of Wall Street. So what you have is Wall Street coming together to offer securities and exchange services and indirectly custody services for mainstream investors. And if we look out about 12 months and if I was saying, what are the key milestones that drive mainstream Bitcoin adoption? Well one of them clearly is a spot ETF. The second is the designation that Bitcoin is an asset class, the recognition of it as a legitimate commodity. It's a big deal. When Jerome Powell says it's not going away, when Gensler and the head of the SEC and CFTC both say it's a digital commodity, digital commodity might not sound like much, but when you go down the next round, like is it a Ponzi scheme or is it a scam or tulip bulbs? The difference between tulip bulbs and digital commodity is a zero versus one. I have said before, and I'll repeat it again, if it's not going to zero, it's going to a million dollars. It is either nothing and if it's nothing, then it's getting scrubbed out and banned. And of course we now know that it's not getting banned. There is no way that Fidelity, Citadel, Black Rob, Charles Schwab, Deutsche Bank, Credit Agricole, Banco Santander, all decide they're interested in this. They are not endorsing a tulip bulb, right? Once you go from zero to one, then the question is, well, it's an asset class and if it's not going away, well, what's it worth? Well it's worth 1 % of the assets in the world. So 1 % drives it up by a factor of 10 to 20. So there you have it. Let me know if you agree or disagree with the Giga Chad and his $1 million price prediction, which I feel is inevitable, especially once that ETF is finally approved as there's literally hundreds of trillions of dollars in the total addressable market, which can start to pour into the King crypto. Now for Michael Saylor's latest from his interview on the podcast with Natalie Brunell when he was asked, do you trust BlackRock with Bitcoin? And Saylor had a very, very intriguing response. So let me break this down for you. Actually transcribed this just this morning and I posted it on crypto Twitter right here and it's already getting a lot of traction. So yeah, when he was asked this question, he responded, Bitcoin fixes everything. And if we think about what that means, we need to be prepared for Bitcoin to infuse everything. The right way to think about it, Bitcoin is going to be a base layer and there's going to be layer twos like lightning to move things fast. And there's going to be layer threes, which is custodial, like the cash app, like Coinbase, like Fidelity, JP Morgan, Bank of America, Apple, Google. There's going to be custodial layer threes and they're going to exist to provide functionality or utility. And there are technical reasons to trust a third party. The best way to think about Bitcoin is Bitcoin offers sovereignty and integrity and empowerment, not just to the individual, but also to the family, the clan, the village, the city, the country, I mean, the county, the state, the province and the country, the company, the institution, the agency, the group, the community organization, every one of these entities all have their own agency and we don't want them to not have access to this. Bitcoin makes your country better, makes your company better, makes your family better, makes your community better, makes your school better, makes you better. Preach is going to make everything better. But there's different types of rappers we need to put it in. So we shouldn't be afraid of those things. Someone said, well, aren't you afraid these big organizations are going to buy Bitcoin and centralize it? I said, it's like asking me if I am afraid that someone in Japan is going to speak English and if that's going to undermine the English language, if Samsung is the biggest company in Korea and they start speaking English and they build support for English into their products, does that corrupt the English language? No, it actually makes it much better. They are going to use it differently. What's the likelihood that Samsung can change the definition of love or change the meaning of 100 different words by adopting it? Not likely. So I think it's a protocol. The protocol is going to infuse everything and we shouldn't be afraid of all the different ways that people choose to integrate, wrap, embed or execute with Bitcoin. There is no one right answer and the marketplace will determine the right mix of integrations of Bitcoin. So there you have it. Very powerful words coming from the GigaChad. Let me know if you agree or disagree. I also get the point of what he is sharing, regardless if we can trust BlackRock or not. This is excellent for mass adoption. And I love that analogy and metaphor he shares with, you know, is Samsung the biggest company in Korea? And they started speaking English. Is that going to undermine the English language? Absolutely not. And the same thing with Bitcoin adoption. So shout out to the GigaChad. Michael Saylor also thinks that the SEC crackdown can boost the Bitcoin dominance to 80 percent. And I'd love to know your thoughts. Do you feel that this cycle, the Bitcoin Dom, can climb to 80 percent? 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.
CoinDesk Podcast Network
A highlight from THE HASH: SEC Punts Ark 21Shares Bitcoin ETF Application Decision; Post Malone Slams Digital Dollar Concept
"This is the hash podcast. Stay informed with the latest on Bitcoin, ETH, the metaverse, web3 and more. All on the hash for your ears. You're listening to the Coindesk podcast network. Happy Friday. It's the hash. Coindesk TV is here. We're here to close out this week of crypto news with some insights, analysis, jokes, good times all around. I'm Zach Seward. We got Jen Senassi. We got Will Foxley. How's everybody doing on this Friday? Just hit me real quick. Jen, how are we doing? I'm doing great, but cannot wait for the weekend. I'm just going to enjoy the last days of summer. Will? Got a little skizzy of energy this morning, kind of all over the place, but I'm here, so it's okay. It's all that matters. How are you? I'm good. I'm good. I'm doing it. Just fine. Just fine. Just steady. What is days? What is time? He's a family man. He has to be focused and on point. It's true. It's true. Just got to keep it going. Anyway, let's start this thing off. I think Jen is going to lead us off and I think we're going to talk about the never ending quest. The never ending saga toward a spot Bitcoin ETF. What's the latest? Right. The SEC is not really keeping it going. It's just pausing and delaying. They've extended their review of the ARK 21 shares Bitcoin ETF application as it continues to look at spot Bitcoin ETF applications from TradFi. Heavyweights like BlackRock and Fidelity, ARK Investment Management, and 21 shares have been looking for an ETF approval since 2021. Can you believe it? All those years ago now when it made its first ETF application, which was followed by another one earlier this year. Will, I'm going to kick this one off to you. I think there was a lot of chatter about a potential ETF application approval. There is still a chance that we get an ETF app approval, but these extensions keep coming. What would you make of this? Same story, different year, different date, same story. Yeah, just keeps happening. I mean, there's a lot of ETFs out there for Bitcoin right now. There's like the Invesco one with Galaxy Digital. There's the BlackRock one, which really kind of got the ball rolling again. And then we have this 21 shares one, which has been outstanding for quite a while. It could name like three or four others, right? So what are they going after? Well, they're going after this retail crowd that has brokerage exchanges that can like log into Schwab or log into Fidelity, and then they can go purchase Bitcoin through an ETF product. And that would really open up the doors of adoption and be a quite lucrative business for a lot of people who are in the ETF game because they get a little bit of the bips for every time you buy and sell one of these things, which is really nice. Why is the SEC continuing to delay this? Well, the rationale a few years ago was market manipulation is pretty rampant within crypto and a lot of the numbers were fake, right? So think of like trading volumes. There's a lot of wash trading within crypto. And then even like the more reputable exchanges out there, like the Coinbase is the world. Well, I mean, they're getting sued and we don't really know if we like these markets. And also Coinbase is interacting with the larger crypto market. That kind of makes the numbers on Coinbase a little suspect. So there's a lot of thoughts around like why this can't happen. But I think with BlackRock piling in and with a bunch of other people re -upping their ETF hopes, there's this idea that maybe now is the time. Maybe now we have enough information about these markets. The key thing with the recent filings, of course, was the surveillance agreement where there was an agreement between the ETF and the exchanges and then NASDAQ to be able to look at all the numbers and look under the decks and see if there was market manipulation in any sort of way. And the thought was like, maybe that will get it across the finish line. A lot of people have put good numbers on those bets.
The Charlie Kirk Show
A highlight from What Was Bill Barr Doing? with Julie Kelly and Michael Seifert
"Hey everybody today the Charlie Kirk show Julie Kelly joins us and Michael Seyfried joins us first to celebrate public square going public. I own shares and I am an investor that's my disclaimer. We're not here to give you investment advice but we want to celebrate this noteworthy news. And then we have Julie Kelly, I'm going to talk about will Trump be going to federal prison, what is going on with the whistleblowers so much there. We have some exciting news to share a way to support our show directly. It's members dot Charlie Kirk dot com that's members dot Charlie Kirk dot com. If you support us at Charlie Kirk dot com slash support we are migrating you all over it's a technological endeavor that we are under so you know do not worry we'll get you guys logins and get you all figured out. But if you've not yet supported us please go to members dot Charlie Kirk dot com and try to become a monthly supporter and you'll be able to hear exclusive conversations that we had for example with Tucker Carlson, Patrick Burns, Steve Bannon and more. So go to members dot Charlie Kirk dot com and here's a little teaser just to motivate you to become a member and by the way when you're a member this is a solid program to be able to help us remain clear confident and unafraid against the corporate bullies. Here's a little bit of my convo with Tucker Carlson. We talk about this sometimes your faith has strengthened. Have you grown closer farther apart from God not just through this but just in your seven years from Fox because you do talk more spiritually especially in the last couple years. I probably shouldn't because I mean I love it. You don't want to take spiritual advice from me. Well I'll be honest Tucker I don't take spiritual advice from good. You shouldn't trust an Episcopalian tells me about the Bible. Well but just me no Episcopalian is ever going to tell you about the Bible. No they'll tell me their feelings. Yeah no it's totally right. What about it. And I was talking this last day. I've been just for my own interest reading the Bible since February and beautiful. It's just so interesting interesting. It's the whole civilizations based completely blown my mind. Boy if that spiked your interest go to members dot Charlie Kirk dot com members dot Charlie Kirk dot com and become a member. I deeply appreciate it. It keeps the show strong and we really really are thankful. Buckle up everybody here we go. Charlie what you've done is incredible here. Maybe Charlie Kirk is on the college campus. I want you to know we are lucky to have Charlie. Charlie Kirk's run in the White House. I want to thank Charlie. He's an incredible guy. His spirit his love of this country. He's done an amazing job building one of the most powerful youth organizations ever created. Turning Point USA. We will not embrace the ideas that have destroyed countries destroyed lives and we are going to fight for freedom on campuses across the country. That's why we are here. Brought to you by the loan experts I trust Andrew and Todd at Sierra Pacific mortgage at Andrew and Todd dot com. Big day today for the Patriot economy. Joining me now is a great friend of mine Michael Seifert who's having a huge day and he had a very interesting week to share before we go any further. I want to do full disclosure. I own shares in this company. I'm not giving you investment advice. It is a publicly traded security. I need to do all those disclaimers right Michael to make sure everyone knows what's going on here. But it is publicly listed Michael Seifert Public Square is now on the New York Stock Exchange. Michael congratulations. How you doing? I feel electric Charlie. It's been an amazing day. It's a very good day for our company our movement and the country the voices of we the people have it long needed representation on Wall Street. And today that happened. In fact we shouted you shouted USA so loud on the trading floor that Jim Cramer with CNBC had to stop what he was saying and he got visibly frustrated. You can find it on Twitter. The clip is going viral and the other guy had to close his ears as he was talking. So it was it was really a remarkable morning. The voices of the people are being heard Charlie and the parallel economy had a big win today. It's beautiful. We have this clip here. Jim Cramer who if Jim Cramer comes out and he says that Public Square is going down you guys are going to be one hundred billion dollar company because this guy is wrong just about everything. But it's so interesting. So CNBC does their live show from the floor of the New York Stock Exchange and you guys are ringing the bell and this organic chatter from the floor starts breaking out. USA, USA and Public Square by the way is going up like crazy. I'm looking at the stock looks like there's a lot of pent up demand for the Patriot economy. Enjoy this clip. This is amazing. It's going viral. CNBC, how dare you celebrate the country? We're just supposed to worship money around here. Play cut one on nine percent of sales right now. New home sales are so much higher than they have been since the overall sales. You know these 8800 this career. The main thing you need to know though is that home prices are up 40 % since 2019 and that's the magic number that the Fed is upset about. Michael they've never experienced something like that. Was that organic? Was that some people that you guys had to come alongside and celebrate you? And by the way the ticker symbol again not giving investment advice all the disclosures there there's so many rules around this but it's just for anyone that might be interested it's PSQH is that right Michael? That's correct on the New York Stock Exchange. And so Michael did you bring in like a cheer team from you know the University of Alabama or something? Where did all that come from? It was an amazing amount of energy. I mean just walk us through it CNBC couldn't even believe it. Well what was pretty cool Charlie is that yes we had a great team there. We had a lot of our employees and partners and investors that have joined us from the floor chanting with us. In fact what was pretty incredible to witness is the amount of support we had from the actual employees of the stock exchange. When I got down off the podium after ringing the bell I talked to one of the people that was leading the floor and he said hey your approval rating in this room is 99 .9%. People love what you are doing here and the reception we received was fantastic. So I hope that sends a really loud and clear message that you're not alone. If you're watching this broadcast right now or you're listening to this podcast and you ever question whether or not we have a massive amount of people standing with us today was proof that we do. We absolutely have the majority of this country that is tired of this ruling class of elites that tell us what to do. They lecture us about stupid progressive policies and we are speaking up we are pushing back and we're doing it in a hopeful positive way. We're not just boycotting we're creating solutions and today again was a big win toward that aim. So Michael you had a challenging week in some ways. I mean you and I privately dialogue a lot but are you are you comfortable sharing some of it because there was some really unusual stuff happening. I mean obviously you share what you're comfortable with but you had an interesting week. Share what you can. Yeah I think it's important for people to realize that the devil wears a suit and tie and we met him this week on Wall Street. There are a lot of powerful people that did not want us to succeed. In fact they went above and beyond to try to stop this deal from closing. We were lied to. We were manipulated. We were told by people that were supposed to trust that they would have our back into the clothes and they let us wrong every time and so we had to rely on our faith in God. We had to rely on our friends and our close partners that we did know that we could trust and ultimately at the end of the day a lot of these arbitrage funds that are set up purely to make a quick buck on deals like this. Thank God a lot of them are gone and while they did lie to us and manipulate us we saw right through it. They tried to push us into these manipulative financial structures that would have required us to be beholden to their agenda for the coming months and would have kept us strapped for cash and really needing their hand in order to succeed and we just said no. We said we're not going to negotiate with these people that do not want the best for our company. So I'm proud to say today that we are a company by the people for the people and owned by we the people. We answer to no one on Wall Street. We answer to the people. Those are our consumers. Those are our businesses and those are not the folks that lie and manipulate to try to get quick gain. That is a small group of people that run a lot of institutions in this country but they've been sent a clear message today and we're going to continue sending this clear message that we're not down to do business that way. We're going to run this business with integrity with excellence and we're going to be honest about exactly what we're trying to do exactly who we're trying to reach and Charlie I'm really grateful as I saw the banner with public squares logo draped over the stock exchange today I was reminded of just how hard of a battle we fought to get here but how big of a win that this is and I know that there are many more mountains to conquer and challenges to overcome I'm so confident that with the help of we the people will do it. Yeah and this is why I'm an investor in the company and so Michael can I just want to reiterate is it fair to say that there are some big firms that were acting more ideologically than even in profit motive towards you in the last week that were willing to lose money because what we could only assume is that they wanted to try to stunt or short circuit the launch of the patriot economy. That's exactly right. I mean when I touched on some of the lying in the manipulation that's what we experienced. We experienced people willingly choosing to sell when they could have made more by redeeming in the SPAC process in order to kind of push us into a corner and we weren't sure why it was happening and it was just such a mess to witness and we heard from a lot of these folks that hey this this might have quite a bit to do with your mission. You guys are coming out here onto Wall Street and by the way Charlie just the day before we launched a pro -life diaper company and they definitely do not like the pro -life cause and so there was just this pent -up sort of anger from these institutions about what we're trying to do here and I'm gonna tell you something really sad Charlie some of these some of these firms have been run by people that claim that they're conservative and that's that's the most devastating part of this process is that you know we always complain about George Soros on the left and all these people but at least those people are willing to prioritize their ideology and and are willing to you know fight for their side with their capital our side you know we have some people that claim to be conservatives but they just stab each other in the back and they don't love a mission if they can't control it and you know that's a really disastrous reality of the movement that we have to fight back against and again I know we can I know we will and ultimately I know that the people are on our side people are tired of being told what to do by a few major institutions and we're really glad to represent their voice today not easy but I want to celebrate you Michael you've been an entrepreneur and you know we have so many mutual friends when I first heard about Michael it was from the great pastor you're gonna awaken Church and he was bragging on public square and bragging on the vision and bragging on what you guys can do and we're starting to see you know we have rumble we have strive we have public square we have these really amazing alternatives and if you're interested at all it is it is PSQ a the Patriot economy is officially here Michael talk more broadly this has been a very interesting summer kind of in the corporate warfare space a lot of boycotts stocks all over the place you guys are building reliable durable businesses and navigational tools for the everyday people your public square app is unbelievable walk us through some of the numbers that you guys have it's really incredible of users and businesses and you've stood it up in a relatively short period of time Michael well Charlie I'll tell you this one of the unfortunate realities obviously of being a public company is just that we have to be very by the book when it comes to what we're disclosing and what we're not and all of that so the last we publicly disclosed numbers was end of June but obviously the platforms continue to grow but as of the end of June we've had over 1 .1 million consumer members join the platform over 55 ,000 business vendors and it's been incredible to witness the reception we've had what I will tell you though is that even while the growth has been tremendous and we hit a million members faster than I ever thought we could and then flew past that one thing that's pretty neat is that I was just talking to a guy yesterday who I could have sworn would have heard about public square before he's as conservatives they come loves the country loves to make sure that he's shopping his values and he's like wait what is this I've never heard of this and so it's pretty cool for us all those aha moments that we still get to see that remind us how early we truly are and so you know even on Twitter this morning our stock ticker was trending PSQH on the New York Stock Exchange and to see all these comments of people saying I've never heard of this this is so neat I think it points to this deeper desire people have right now for opportunities to shop their values in a parallel economy that's focused on the love for country meritocracy excellence quality of products because that's been so lacking you mentioned the drop of market cap from some of these other companies over 50 billion dollars eviscerated just in the last few months from Target Anheuser Busch Disney by the way Ben and Jerry's recently joined into that crew as well the two and a half billion dollar drop in market cap just a week after July 4th when they claimed that July 4th should be dedicated to remembering indigenous land but I think the big news of the day here for us is that people are filled with hope like we haven't given up we're pushing back and the growth of our platform speaks to that it's it's really incredible and just talk about you know the diaper company you guys are gonna be getting into durable assets that then can compete in multiple different verticals speak to that Michael well that's part of the business model long term is that we would have a lot of information about what our consumers are looking for so they reach out every day and they say hey I really want product X and for most all of life's needs we have an awesome values aligned representative of product X that joins the platform and showcases their products but for a few key industries there are no alternatives that love the country love life family values so what we actually get to go do is create those products with an excellent team that leads the demonstration of these products and then sell them within our own marketplace and we did that for the first time this past week with the launch of a company called every life it is America's first and only major pro -life diaper company because unfortunately all the other incumbents in the space are pro -abortion which makes no sense like hello bellow to donate to abortion for their employees is completely backwards but that's where the industry is today so moms need a pro -life alternative that they know will support the values that are important to their family and ultimately lead to the flourishing of society more broadly and we did that with every life at every life calm last week and then we're gonna do that again with more products into the future because we want to make sure that for again all of life's daily purchases there is an opportunity to support a company that you know you can feel proud to back and that's our goal here Charlie it stretches far beyond just a central marketplace exchange and it looks like D to C products durable products B to B products and we're grateful that we've got a lot of team members that are rallying around us from these other major industry players leaving those entities coming to join us saying I'd rather build here Michael you're doing a great job god bless you and just Michael can you 30 seconds people are saying they can't find the stock on their Schwab or their Robin Hood it takes there's a lag time isn't there to get the shares issued can you explain that yep that's exactly right for some folks they're having a greater ease finding it on Schwab Robin Hood was a little delayed today getting the ticker to change I'm not sure why but we just got word that Robin Hood should be live PSQ H so yeah it was an interesting morning Charlie not a lot of media wanted to cover what we were doing even though it was the most popular SPAC of the last decade in terms of the opening here so I don't quite know what's going on but what I will tell you is that you should see it represented and if you don't please call your broker we want to make sure that people have access to this if they choose to buy it not asking you to but if you'd like to you deserve access to and so we hope that a lot of these issues get sorted out unfortunately a lot of them are out of our control these are you know issues with these different platforms themselves but we're gonna keep pushing pushing back and we hope that more people will join us along the journey yeah probably just a coincidence Michael thanks so much thanks Charlie appreciate the time hey everybody Charlie Kirk here do you believe in our founders vision for America that our republic will only survive if we are an educated and informed people who know our rights and our duties since 1844 Hillsdale College has sought to educate all who wish to learn about these timeless principles of self -government for more than 50 years the college has worked to spread that mission by sending in Primus their Digest of Liberty to millions of Americans including me in Primus features some of the best speeches given at Hillsdale events and now an audio version of the popular speech digest is available in a new podcast of the same name and like print publications in Primus the podcast is always free you can hear the best arguments from speakers such as Christopher Rufo Molly Hemingway Mark Stein Hillsdale College president Larry P.
AP News Radio
The Lates in Sports
"AP sports and Mike Reeves, Josef Newgarden won his first Indianapolis 500 passing defending champ Marcus Ericsson in a two and a half mile sprint to the finish. Major League Baseball, the rays defeated the Dodgers 1110, while the rockies beat the bets by that same score, Cleveland got a four three, walk off win over St. Louis, the Orioles were three to two winners over the rangers, Detroit down the White Sox 6 to 5 in ten innings, the royals were three two winners over the nationals, Toronto shut out Minnesota three zero, the brewers won 7 to 5 over San Francisco Cincinnati is an 8 5 winner over the cubs, Miami at two zero winner over the angels, the Diamondbacks defeated the Red Sox four two, Seattle gets a 6 three win in ten innings over Pittsburgh. The Yankees beat the Padres 10.7 and Houston beat Oakland ten to one with the braves downing the Phillies 11 to four emiliano grillo won the PGA's Charles Schwab challenge. You don't play off over Adam schick and Steve stricker was victorious in a playoff over podrick heritage in the PGA scene your championship at Mike Reeves AP sports.
AP News Radio
The Latest in Sports
"AP's sports and Mike Reeves, it was a frantic finish at the Indianapolis 500, our Tom McKay reports. Josef Newgarden used a one lap shootout to grab the lead from 2022 champ Marcus Ericsson to win the Indy 500. You know, I wasn't looking to take anyone else out of the race, but I was going to put my car on the line to win. And I was either going to win the race or I was going to end up in the wall. Newgarden driving for team owner Roger Penske survived a chaotic final 40 miles, which saw the race stop three times for Rex. Major League Baseball the rays win a wild one over the Dodgers in Tampa Bay, correspondent Steve Carney provides the details. The Tampa Bay Rays used a 7th inning RBI ground out by wander Franco to break a ten ten tie and defeat the Los Angeles Dodgers 11 to ten. Both starters got hit around as Gavin stone allowed 7 runs in two innings of work, while Josh Fleming allowed ten runs in 6 innings, including 5 home runs, Tampa Bay finishes at ten game home stands 7 and three, while the Dodgers complete their longest road trip of 2023 with a four and 6 Mark. The Yankees used a 7 run third inning to defeat the Padres ten to 7, Aaron judge and Harrison Bader hit home runs to support winning pitcher Garrett Cole, who is now 6 and zero. This was a good team win today for sure. I mean, being able to kind of subdue them through the middle innings and keep the momentum. I thought played in our favor, but it's just such a luxury to have the offense. Other winners on the diamond were the guardians Orioles tigers royals, Blue Jays, brewers, reds, rockies, Astros, Marlins, Diamondbacks, Mariners, and braves on the PGA Tour emiliano grillo wins the Charles Schwab challenge in a playoff against Adam chic. It was his first PGA Tour victory. It over 7 and a half years. So it was great. The way it was definitely worth it, it was long, but it was worth it. Steve stricker won the senior PGA Championship in a playoff over podrick Harrington, NASCAR's Coca-Cola 600 was postponed due to wet weather. I'm Mike Reeves AP sports.
The Dan Bongino Show
James Lindsay: Stop Waiting, Start Fighting for Constitutional Freedom
"How can we as freedom loving advocates for God given constitutional liberties and freedoms for everyone What's the best way for us to fight back A lot of us are just like gosh why can't we just get rid of this plague on humankind Well listen first of all we got to get rid of that hubris that we're going to get rid of this plague on humankind because if I'm not mistaken it's the same story that's in the third chapter of genesis So it's the oldest second oldest story in humanity and it's not going to go away But we do have to fight it and we have to fight it in every generation So you already said the first thing freedom of Americans can do which is that they have to get off the couch They can't keep waiting for somebody else to do this They can't keep waiting for this to blow over And they have to start getting active civically They've got to start getting informed They've got to start learning about this telling other people about it organizing look at the group moms for liberty You got like a 150,000 moms moving in two years You've got to start doing things like this You got to figure out where can I help And you have to ask yourself you know what am I good at Everybody's looking at Klaus Schwab and they're thinking oh my God this is so big Hell in the world Can I touch something as huge as the World Economic Forum or the United Nations or the Biden administration that's out of my hands But your children are not out of your hands and they need your kids to move this ball forward So you need to protect your families You need to get involved with the kids in your community and your neighborhood and teach them right values teach them skills There are all kinds of things people can be doing And what you need to do is figure out what you're good at and what's close by and do the next right thing over and over and over again If you have the ability like you do on your show to reach out and expose things or make things happen you have to aim for the highest link on the chain that you can reach but don't try to reach a link on the chain higher than you can reach or just frustrate yourself So if you can expose something in the Biden administration because you have a big reach go do that If you can only help the kids in your neighborhood because that's as far as you can reach go do that But there's no sitting on the couch
The Bad Crypto Podcast
Advancing Global Crypto Innovation With Sheila Warren
"It was just about three years ago that our guest today was last on the show, and at that time she was the head of blockchain for the World Economic Forum, where she occasionally interface with the clause Schwab, it's a bugs and you will be happy and she is now with the crypto council for innovation. She is the CEO and her name is still, Sheila Warren, Sheila, welcome back to the show. Thanks so much for having me and Joel and Travis. You've idea of eating the bugs? No? The time had come for a change and been almost 5 years and I really wanted to be in a place where I could always say what I truly, truly thought, which as you know, I didn't really hesitate to do at the forum. I got a long leash there, but I wanted to be more of an advocate that I felt I was able to be in an organization that was that's objective. That's actually officially objective. Very nice. Yeah, so now. So this is cool. So you have to was a crypto for innovation dot org. Crypto counsel for innovation is crypto counsel dot org. Same Twitter handle as I always had at Sheila underscore Warren. But yeah, I've been in this role now for a little over a year. And we are an evidence based advocacy organization that's focusing on trying to get sound crypto policy around the world. I mean, really. So it isn't really that different, I think, from what my goals were in previous roles, even predating the forum, just trying to get responsible policy in place. But the strategy I can use now is obviously very different. Do you feel like your hands were somewhat tied with the WF, where, you know, because what you're trying to do is you're trying to eat an elephant, right? You're monitoring and changing policy all around the world. You're not just like Caitlin long and saying, all right, let's do Wyoming. Let's go everywhere. And so this is far for you more freedom and liberty to do what you want to do. You know, yes and no, right? 'cause I think here the connections that so that's a really interesting question I love that you asked that. So the answer is always complicated and I'm a lawyer by training so you don't ever get to give you a yes or no answer. But it is yes and no. It's yes from the standpoint of I truly believe that crypto governance, crypto economics, the blockchain, are all going to underlie most of our systems moving forward. But I think the connection with other systems is actually even more important now than it ever was.
The Dan Bongino Show
Movie Trailer for the Film 'Vegan Hamburger Hill'
"Jim found this movie Vegan hamburger hill So weird like it's like a you know they're trying to get like a whole hoo Ross breed a court thing going for their vegetarians but looks like a good movie Let's listen to the trailer Coming this spring from watopia studios The war epic of the 21st century The vast majority of food that is contributed to our emission crisis lies in meat and dairy products Eric Adams in vegan hamburger hill War on meat What's the plan lieutenant See those cows over there Take them out for Then make your way over to chicken coop music grenade to take that out We'll follow that up with an artillery barrage on the tilapia pond But sir the tilapia Really It's okay Fish don't have feelings Vegan hamburger hill War on meat starring Eric Adams Klaus Schwab and Rosie O'Donnell as big Harry Clint I have never met George Soros but he seems like a lovely man One day I'd like to share a souvlaki with him Ready to GF four gluten free Man that movie looks amazing
The Charlie Kirk Show
A Warning About the Rapidly-Declining Global Power of the U.S. Dollar
"In most circumstances, I will say, you know what? Stupidity and ineptitude usually to blame. For when things go wrong, typically in life. There's a great, there's a great, there's a great scene. Ryan, get it, please. In Seinfeld. All roads lead to Seinfeld at some point. Where uncle Leo and Jerry are sitting in a diner. And uncle Leo gets a sandwich. And it's not the way he likes it, and he goes to Jerry and he says, that cook is probably an anti semite. And it's, of course, makes Seinfeld so brilliant. It's upper east side Jews making fun of upper east side Jewish culture. It's self deprecation. That's Larry David's words, not my own. So it's hilarious, right? The point is that, no, the chef is probably not an anti semite. He was probably just an apt or clumsy. In most circumstances, there is not an agenda or a nefarious campaign to undercook your meat. Or to try to have, that does happen at times. But I'll be very honest. That is my general rule for when things go wrong. It's a general rule when things are not the way they should be. There is no such explanation when it comes. To the obliteration of the dollar as the world reserve currency. This is not stupidity, this is not benefit of the doubt times. This is sabotage. This is obliteration. This is an attempt to usher in a new world order. A great reset. Something from Davos or Klaus Schwab, exactly what that is. We have little bits and pieces. Nobody knows the whole picture. If anybody tells you I got the whole picture, they're puffing out their chest.
The Breakdown
"schwab" Discussed on The Breakdown
"To fin twit and Deutsche. Like I said, it's not super clear to me the extent to which there are specific reasons to be concerned about them as opposed to others, other than the fact that it would be really bad if it failed. And there's almost a temptation to see it as the next domino if only for historical parallelism. Finance a lot, for example, wrote so far we've had two investment bank failures in 2023. SVB is total assets for 200 billion, Credit Suisse was 700 billion. Deutsche bank is 1.4 trillion, so that would be a Merrill Lynch scenario leading to the collapse of numerous other large institutions. Now, one of the other phrases you'll see a lot on Finn to it right now is two big to save. Daniel the call, the chief economist that tresses says, Deutsche Bank is not too big to fail. It is too big to bail out. Tetragrammaton says most G sibs have assets worth many times more than the GDP of the country they reside in. They're definitely too big to save, but the G 20 pass legislation back in 2010 to ensure government backstop, including bail ins, would rescue GCPs at any cost. Marcus Agrippa Rite of Deutsche Bank defaults the Eurozone and European Central Bank under Christine Lagarde is going to have a hell of a headache. Deutsche Bank debt is so large that there won't be another bank coming to the rescue as there was with Credit Suisse. Now, as we try to parse out what's actually going on here, I think there is one thing that we have to keep in mind. The last decade, and especially the last few years, were characterized by speculative fever to the upside. In other words, people betting that things were going up anything was going up and probably going up way more than they probably should in a rational market environment. We're now starting to see speculative fever to the downside where shorts pile on and in many cases actively use the tools of social media to turn their case into self fulfilling prophecy. First guac of market news aggregator tweets, short interest and Deutsche Bank stock has doubled in the last two weeks to 360 million. Short sellers have made over 100 million betting against Deutsche Bank stock in the last two years. Now, ultimately, short selling is an incredibly important part of price discovery and healthy markets. But how short sellers and short selling in general interacts with tools of mass citizen communication is still worth thinking about. Even if that's only to filter or apply a lens to how we view dire doom predictions that get made on Twitter. Allow Deutsche Bank was not the only major financial institution under pressure heading into the weekend. The market for credit default swaps on Charles Schwab surged higher on Friday now sitting 20% above previous highs for the year and 40% higher than their level earlier this month. Schwab customers removed 8.8 billion from money market funds over three days in the wake of the Silicon Valley bank collapse, placing the money into government backed bonds instead. Mike Peterson a Schwab spokesman said at the time, quote, those shifts from one category to the other happen all the time. This one is larger but as part of a broad industry trend and is not unique to Schwab. On Friday, Schwab's CEO walked bettinger told The Wall Street Journal that, quote, there would be a sufficient amount of liquidity right there to cover if 100% of our banks deposits ran off without having to sell a single security. Other analysts, though, are not so sure. Porter Collins, a portfolio manager at seawolf capital, claimed that Schwab quote mismanaged the balance sheet. Collins, who notably has an open short, said that, quote, the problems that they made a big rate bet and it's gone the wrong way on them. According to last year's financials, Schwab had more than 11 billion in unrealized losses on its hold to maturity bond portfolio, exceeding its tangible common equity of just over 6 billion. While most of those bonds are government backed and therefore eligible for fed liquidity programs, such a large mismatch could still be a serious test of those fed facilities. You're definitely seeing some folks on Finn twit get panicky, known as dollar tweets, Charles Schwab showing signs of potential distress has 7.13 trillion USD under management across all subsidiaries. This would truly be a black swan event. However, others presented the other view. Joey politano writes just for context on this because people are acting panicky, 80% of deposits at Schwab's main partner bank are insured compared to 5% of silicon valley bank before its collapse. Much more of Schwab's losses on held to maturity securities, the kind that help bring down Silicon Valley bank are already incorporated into regulatory capital components and ratios too. Obviously, there's a level of withdrawals that no institution can survive, see Credit Suisse. And bank runs are hard to predict sociological phenomenon, but maybe discount forecasts from people who say, quote, unrealized losses on deposits, instead of quote unrealized losses on assets. And speaking of Joey politano, he also updated us about a resolution from an earlier part of the banking crisis. This morning he wrote, Silicon Valley bank has a buyer, first citizens. They're taking over all deposits and loans, though not 90 billion in securities and other assets. Branches of SPV will open as for citizens on Monday. The FDIC estimates the failure of SPV will cost the deposit insurance fund $20 billion. The FDIC said Silicon Valley bank had a 119 billion in deposits as of March 10th, the day it was put into receivership and it had a 175 billion as of its last regulatory filing on December 31st, which means about 56 billion in deposits were pulled out during the initial run. For citizens will gain all deposits in 72 billion of Silicon Valley bridge bank assets at a discount of 16.5 billion. Now, the market liked the news this morning. Regional banks were up in general and first citizens specifically was up 44%. Now, one last end note to a story from before, you'll remember how the last phase of chaos in the Credit Suisse story was kicked off by the Saudi national bank chair, the leader of CS's largest investor, saying that they would quote absolutely not be investing more into Credit Suisse. That was widely attributed to triggering or at least exacerbating a run that would ultimately kill the bank, which in turn obviously hurt that investment. Well, that bank chair is resigning for quote unquote personal reasons, according to a statement today. Life comes at you fast. Anyways, guys, that is the story of where banks are right now. I really do think it's important. Not to be glib or pollyannish about the real issues that these banks are facing. But to also take each situation on its own terms and merits. To understand that by virtue of these being publicly traded stocks, there are incentives for people to want more turmoil and more failure. And to just incorporate that into how we're thinking about everything. In the same way that it would be silly to just assume and accept every mainstream media narrative presented to you about banks or anything else. I think there is a real risk of over correcting and assuming that everything the mainstream media or government says is just a priori false. But over the next few months, I'm sure we'll get a chance to see who is closer to correct. Until tomorrow guys be safe and take care of each other. Peace
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"About the sort of newer or alternative asset classes that retail investors are just starting to dip their toes into? I mean, how do you deal with these things at Schwab? These happens all the time, and we have had significant amount of interest. And this happens in many cases. You may recall, not too long ago, the discussion about meme stocks and what people can use that information to invest and how they can use several information. It's the good news is that we attract a lot of investors to start being interested in investing. I think our challenge and our goal and mission continues to be to educate clients on how to think about the long-term. And what to think about the way to invest from the basic level of what are the fundamentals of what you try to achieve a financially and investment wise for each one of your goals. Areas like, for example, digital assets, any type of related information that is more supply and demand that there is little in terms of fundamental, there is little in terms of history. They tend to just be an option for clients to start getting their interest in investing, but not as a Sally to form the core of their long-term strategy. We tend to just continue to educate clients to say, well, you know, the basic asset classes, the basic areas of investing for the long run, as of today, still consist on the basic cash fixed income equities. And yes, there will be other alternatives that are based on fundamentals that could actually help in the diversification process. Get more of this and other conversations
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"What do you do at Schwab asset management about the sort of newer or alternative asset classes that retail investors are just starting to dip their toes into? I mean, how do you deal with these things at Schwab? These happens all the time, and we have had significant amount of interest. And this happens in many cases. You may recall, not too long ago, the discussion about meme stocks and what people can use that information to invest and how they can use several information is the good news is that we attract a lot of investors to start being interested in investing. I think our challenge and our goal and mission continues to be to educate clients on how to think about the long-term. And what to think about the way to invest from the basic level of what are the fundamentals of what you try to achieve a financially and investment wise for each one of your goals. Areas like, for example, digital assets, any type of related information that is more supply and demand that there is little in terms of fundamental, there is little in terms of history. They tend to just be an option for clients to start getting their interest in investing, but not as a Sally to form the core of their long-term strategy. We tend to just continue to educate clients to say, well, you know, the basic asset classes, the basic areas of investing for the long run, as of today, still consist on the basic cash fixed income equities. And yes, there will be other alternatives that are based on fundamentals that could actually help
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"At Schwab asset management. What do you do at Schwab asset management about the sort of newer or alternative asset classes that retail investors are just starting to dip their toes into? I mean, how do you deal with these things at Schwab? These happens all the time, and we have had significant amount of interest. And happens in many cases. You may recall, not so long ago that discussion about meme stocks and what people can use that information to invest and how they can use several information is the good news is that we attract a lot of investors to start being interested in investing. I think our challenge and our goal and mission continues to be to educate clients on how to think about the long-term. And what to think about the way to invest from the basic level of what are the fundamentals of what you try to achieve a financially and investment wise for each one of your goals. Areas like, for example, digital assets, any type of related information that is more supply and demand that there is little in terms of fundamental, there is little in terms of history. They tend to just be an option for clients to start getting their interest in investing, but not as a Sally to form the core of their long-term strategy. We tend to just continue to educate clients to say, well, you know, the basic asset classes, the basic areas of investing for the long run, as of today, still consist on the basic cash fixed income equities. And yes, there will be other alternatives that are based on fundamentals that could actually help
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"At Schwab asset management. What do you do at Schwab asset management about the sort of newer or alternative asset classes that retail investors are just starting to dip their toes into? I mean, how do you deal with these things at Schwab? These happens all the time, and we have had significant amount of interest. And this happens in many cases. You may recall, not too long ago, the discussion about meme stocks and what people can use that information to invest and how they can use several information is the good news is that we attract a lot of investors to start being interested in investing. I think our challenge and our goal and mission continues to be to educate clients on how to think about the long-term. And what to think about the way to invest from the basic level of what are the fundamentals of what you try to achieve a financially and investment wise for each one of your goals. Areas like, for example, digital assets, any type of related information that is more supply and demand that there is little in terms of fundamental, there is little in terms of history. They tend to just be an option for clients to start getting their interest in investing, but not as a Sally to form the core of their long-term strategy. We tend to just continue to educate clients to say, well, you know, the basic asset classes, the basic areas of investing for the long run, as of today, still consist on the basic cash fixed income equities. And yes, there will be other alternatives that are based on fundamentals that could actually
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"At Schwab asset management. What do you do at Schwab asset management about the sort of newer or alternative asset classes that retail investors are just starting to dip their toes into? I mean, how do you deal with these things at Schwab? These happens all the time, and we have had significant amount of interest. And this happens in many cases. You may recall, not too long ago, the discussion about meme stocks and you know what people can use that information to invest and how they can use several information. It's the good news is that we attract a lot of investors to start being interested in investing. I think our challenge and our goal and mission continues to be to educate clients on how to think about the long-term. And what to think about the way to invest from the basic level of what are the fundamentals of what you try to achieve a financially and investment wise for each one of your goals. Areas like, for example, digital assets, any type of related information that is more supply and demand that there is little in terms of fundamental, there is little in terms of history. They tend to just be an option for clients to start getting their interest in investing, but not as a Sally to form the core of their long-term strategy. We tend to just continue to educate clients to say, well, you know, the basic asset classes, the basic areas of investing for the long run, as of today, still consist on the basic cash fixed income equities. And yes, there will be other alternatives that are based on fundamentals that could actually
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"At Schwab asset management. What do you do at Schwab asset management about the sort of newer or alternative asset classes that retail investors are just starting to dip their toes into? I mean, how do you deal with these things at Schwab? These happens all the time, and we have had significant amount of interest. And this happens in many cases. You may recall, not too long ago, the discussion about meme stocks and what people can use that information to invest and how they can use several information is the good news is that we attract a lot of investors to start being interested in investing. I think our challenge and our goal and mission continues to be to educate clients on how to think about the long-term. And what to think about the way to invest from the basic level of what are the fundamentals of what you try to achieve a financially and investment wise for each one of your goals. Areas like, for example, digital assets, any type of related information that is more supply and demand that there is little in terms of fundamental, there is little in terms of history. They tend to just be an option for clients to start getting their interest in investing, but not as a Sally to form the core of their long-term strategy. We tend to just continue to educate clients to say, well, you know, the basic asset classes, the basic areas of investing for the long run, as of today, still consist on the basic cash fixed income equities. And yes, there will be other alternatives that are based on fundamentals that could actually help in the diversification process. Get more of this and other conversations
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"At Schwab asset management What do you do at Schwab asset management about the sort of newer or alternative asset classes that retail investors are just starting to dip their toes into? I mean, how do you deal with these things at Schwab? These happens all the time, and we have had significant amount of interest. And happens in many cases. You may recall, not so long ago that discussion about meme stocks and what people can use that information to invest and how they can use several information. It's the good news is that we attract a lot of investors to start being interested in investing. I think our challenge and our goal and mission continues to be to educate clients on how to think about the long-term. And what to think about the way to invest from the basic level of what are the fundamentals of what you try to achieve a financially and investment wise for each one of your goals. Areas like, for example, digital assets, any type of related information that is more supply and demand that there is little in terms of fundamental there is little in terms of history. They tend to just be an option for clients to start getting their interest in investing, but not as a Sally to form the core of their long-term strategy. We tend to just continue to educate clients to say, well, you know, the basic asset classes, the basic areas of investing for the long run, as of today, still consist on the basic cash fixed income equities. And yes, there will be other alternatives that are based on fundamentals that could actually help in the diversification process. Get more of this and other
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"At Schwab asset management. What do you do at Schwab asset management about the sort of newer or alternative asset classes that retail investors are just starting to dip their toes into? I mean, how do you deal with these things at Schwab? These happens all the time, and we have had significant amount of interest. And this happens in many cases. You may recall, not too long ago, the discussion about meme stocks and what people can use that information to invest and how they can use several information is the good news is that we attract a lot of investors to start being interested in investing. I think our challenge and our goal and mission continues to be to educate clients on how to think about the long-term. And what to think about the way to invest from the basic level of what are the fundamentals of what you try to achieve a financially and investment wise for each one of your goals. Areas like, for example, digital assets, any type of related information that is more supply and demand that there is little in terms of fundamental, there is little in terms of history. You know, they tend to just be an option for clients to start getting their interest in investing, but not as a Sally to form the core of their long-term strategy. We tend to just continue to educate clients to say, well, you know, the basic asset classes, the basic areas of investing for the long run, as of today, still consist on the basic cash fixed income equities. And yes, there will be other alternatives that are based on fundamentals that could actually help
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"At Schwab asset management about the sort of newer or alternative asset classes that retail investors are just starting to dip their toes into? I mean, how do you deal with these things at Schwab? These happens all the time, and we have had significant amount of interest. And this happens in many cases. You may recall, not too long ago, the discussion about meme stocks and what people can use that information to invest. And how they can use several information is the good news is that we attract a lot of investors to start being interested in investing. I think our challenge and our goal and mission continues to be to educate clients on how to think about the long-term. And what to think about the way to invest from the basic level of what are the fundamentals of what you try to achieve a financially and investment wise for each one of your goals. Areas like, for example, digital assets, any type of related information that is more supply and demand that there is little in terms of fundamental, there is little in terms of history. They tend to just be an option for clients to start getting their interest in investing, but not as a Sally to form the core of their long-term strategy. We tend to just continue to educate clients to say, well, you know, the basic asset classes, the basic areas of investing for the long run, as of today, still consist on the basic cash fixed income equities. And yes, there will be other alternatives that are based on fundamentals that could actually help in the diversification process. Get more of this and other conversations on the latest edition of the tape podcast. Subscribe on Apple Spotify and anywhere else you get your podcasts. Plus, listen anytime on the Bloomberg business app and Bloomberg dot com. In the 1980s and 90s, John McAfee was a Silicon Valley icon. But after he sold his company and basked in his riches, things took a dark turn. I will not allow them to imprison me and shut my voice down. This season on foundering will retrace the life of John McAfee. Listen wherever you get your podcasts. Consumers drive the U.S. economy, which makes the hit retailers took from the pandemic and the supply chain aftershocks, particularly important. What's happening with the consumer? The U.S. consumer. Consumer spending. Consumer spending. The consumer consumer consumers. There's no
The Eric Metaxas Show
Naomi Wolf on the Corruption of Covid-19 and the Globalist Agenda
"A simple person in many ways. And I just have to over and over and over, you know, repeat the obvious or try to remind myself I'm not I'm not dreaming this. I'm not making this up. This is real. You have bravely and brilliantly uncovered what is happening because there are millions and even billions of people around the world wondering what is happening and it points you said very clearly very obviously very darkly to China. Wanting to kill Americans and westerners and to destroy us. And we can talk about that for a long time. But we were just touching on how that relates to the globalist agenda because again, the way evil works, it's never simple. You have various things. This is how the Nazis took over. You have greed. You have fear. I mean, pure greed, somebody says, I can get a lot of money if I keep my mouth shut. I'll take the money and keep my mouth shut. Or if I say the wrong thing, I'll get in trouble. So I will keep my mouth shut. So you have all these different things going on, I can understand why the Chinese would want to do this that makes perfect sense. But link it as we were just going to the globalists agenda because they have obviously been working over time to help. Yeah, it's an alliance. And in my book, the bodies of others, I spelled that out. It's, of course, the World Economic Forum, which Klaus Schwab, the leader of it boasted that he has graduates in cabinets all over democracies around the world, and we've seen them from Trudeau to Ardern, and so on. It's the World Health Organization, which is funded by China and Bill Gates overwhelmingly that has been in lockstep with China. I mentioned the Bill and Melinda Gates Foundation. It's a big tech as well. I mean, big tech is invested in the vaccines. And big tech as the bodies of others showed is up net 23% net revenue in 2020 to 2022 till the pandemic lifted. Because of the advantage to big tech of locking people in their homes.
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"Have peaked. Bring that over to another outlier, lives in Sanders at Charles Schwab talking this up big, which is housing housing housing. It Morgan Stanley with all of your national contacts, are you seeing rents in home ownership inflation again come in? Yeah. Now we've been seeing the on the ground real data on rents have been declining since the fourth quarter of last year. Give me a number there. So late 9 to what? Right. So, well, effective rents are different than what's in the CPI measure, but you're talking about 12% growth coming down to 7 or lower, in CPI, we want to see these extraordinary rates of rental growth that historically are closer to around three, 4% come down from where they're still around 6% or so, 6.5%. It's just too high, but the peak in that growth rate is in. We just need to see more of those declines. Now, in a lot of cases in this labor market data, we've had evidence on the ground from different sources for quite some time that wages would be coming down that rental prices would be coming down. And it's taken quite some time for it to show up in the government data. Is it showing up now and will it show up in a bigger way? I think so. But pinpointing the exact month that things start to really snowball is difficult. I super difficult. I think one thing we've all heard on this program, our audience have heard of as well, is that to get inflation back towards target. We need to fill some pain. Chairman Powell said that in Jackson hole, there needs to be some damage. Yet we look at unemployment at 3.5% at claims at 183,000, and we will ask the question, where's the pain west the damage? What does that tell you, 183,000 jobless claims? How much signal is there for you? So the signal there is that companies have been telling us that they're going to hoard labor. It took so long to even rightsize payrolls it was difficult to hire. So in this downturn, there's less, sorry, downturn in the labor market, there's less jobs to let go, it's more that hiring will slow. And so you're seeing that and that jobless claims are not rising out. That makes it more difficult to estimate monthly change in payrolls because we're not letting people go and initial jobs claims are usually the most powerful indicator in your model when you're trying to forecast these monthly reports. But companies are not laying off broadly. We can set tech aside. It's a special case where they over hired during COVID. But broadly, we're not seeing layoffs. So it's really comes down to just how slow will hiring be. Does that make it harder for the fed to hit its objective? Or does it not make a difference? I don't think it makes it more difficult. I think what we're seeing is that the reason why wage gains have peaked is because jobs switchers have declined. So churn in the labor market is shut down. The economic environment is too uncertain for people to keep switching jobs. And that's where the wage gains were pushed up the most. So I think it's more churn that's helping wage gains slow. But what I liked about the press conference this week was that I believe it was your Mike McKee that asked this. Why have you been able to why are we seeing disinflation? Why are we seeing that wage growth as peaked that rental prices at peak? Why are we seeing that and get the unemployment rate is still very low? I don't know if Larry summers is ringing his hands over this because he was saying that you're going to have to do significant damage to the labor market in order to get inflation to slow. And yet inflation is slowing and the unemployment rate is still low. I think that is an excellent outcome for the fed. Perhaps when he talks about the minutiae of economics, it was a very successful press conference. If you're looking at a tightening of financial conditions, which ostensibly was a goal for the Federal Reserve, it was not a good press conference. Does it matter when it comes to the fundamental economy that financial conditions are loosening? Does it push the fed further away from their goal? So it's a really good question and they are very focused on financial conditions. I think certainly if your policy maker and you look at financial conditions, you look at the unemployment rate that's still low, you feel that you can go further with the policy rate and markets can withstand that. But here's what I think they should be focused on. Financial conditions had an extraordinary run of tightening all the way through October of last year. That is what's impacting the economy now, where we're tracking just .2% GDP growth for this quarter. The easing that we've seen in financial conditions since October will be more of what supports growth in the back half of the year and will help the market grab on to that soft landing narrative that we've been pushing for so long now. So I think that's how we should look at it. I don't think they should be so disappointed that financial conditions have remained easy right now. Which perhaps is the reason why we're not going to see big pushback. What's the difference between disinflation and getting back down to 2%? So it's just the speed at which we get back down. Disinflation is that prices are still growing, but they're growing more slowly. And so the fed zone forecast they believe it's going to take quite some time to get back down to 2% that disinflation will prevail over the next couple of years and get us there. I think what we're seeing in market pricing is that based on the latest inflation data, the expectations that maybe we're going to get down or see a faster pace of disinflation and get down to the fed's goal faster than they think. And that's what the market is betting on. The heritage is a Morgan Stanley's Richard burner with a lot of acuity and analysis at Hyman Evercore ISI's years at CJ Lawrence the same idea. Hymen is modeling sub 3% inflation. You just, Lisa's question I thought was dead on about the stochastic nature of disinflation coming down. Is this like any other disinflationary cycle and that we completely underestimate the rate of change to get down to 2.8%
AP News Radio
Zelensky Vows Action Against Corruption After a Minister Is Fired
"Some senior Ukrainian officials have departed amid a corruption crackdown. The deputy head of Ukraine's presidential office has quit after the president pledged a staff shake up amid high level corruption allegations. Carillo Tymoshenko asked to be relieved of his duties according to an online copy of a decree signed by president volodymyr zelensky and Tymoshenko's own social media posts neither have given a reason for the resignation and local media is reporting deputy defense minister via Schwab has also resigned alleging his departure was
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"So much, we appreciate that. Well, on other, what I think is going to be potentially big news, U.S. regulators took the first step toward the most widespread revamp in more than a decade of the way stocks are traded, a move that aims to spur better prices for investors and direct more business to traditional exchanges. Folks, that's all I know. But I need to learn more. I think it's important. So let's bring on Larry tabby. He's head of market structure research with Bloomberg intelligence. He actually does this for a living and he's very good at it. Also managed to have Barry rid holt stick around a little bit. He knows a thing or two about markets, so he'll be joining us as well. Larry, can you, in layman's terms, tell me what the SEC is proposing here? Well, they put out four proposals. The first is greater transparency on retail broker execution quality. So basically giving individuals the ability to see if Robinhood or Schwab or ameritrade or whoever has better execution stats than the other. So that's generally good. The second is going to be reducing tick sizes. So the tick size now, which is basically the spread between the bid and the offer is set at a penny for all stocks over a dollar. They want to reduce that and they're going to create four different bands for the most active and Titus stocks. They're going to wind up making that a tenth of a set. For the next tier, it's going to be two tenths of a percent for the next year. It's going to be half a penny and then for all of the things that generally wider than a four cents, they're going to make, they're going to leave at a penny. The third thing is they want retail investor orders to be auctioned off. So they're going to try to get a larger percentage of retail flow into exchanges to the auction. And then the last is the best execution rule, which not just only applies to equities, but applies to all other securities asset classes that the SEC looks over, which would be bonds, option, I guess, bonds and communities and corporates and things like that. So Barry, hop on in here for the average investor, what does that mean? Good thing, bad thing? Yeah, any time spreads tighten any time you make the cost of execution a little cheaper, it's really good for investors because their costs go down and we know that costs are a big drag. As much as we forget because the changes happen so incrementally over time, this is and as much as apps like Robinhood and the gamification have been in fomo have been a crazy distraction, this
Bloomberg Radio New York
"schwab" Discussed on Bloomberg Radio New York
"Thing in investing Is it a thing for you at Charles Schwab Oh yeah It's a big area of focus for us Quite frankly because there's high demand There's high demand by individual investors for advisers that are on our platform that have their investors clamoring for opportunities there So I think that that Genie is not going back in the bottle even as we grapple with energy shortages and some of the concerns about the speed we've moved toward environmental soundness I think that desire to have that ESG approach is certainly thereby investors not to mention just the public at large in customers wanting to see that focus on the combination of all those areas Listen Sanders Rebecca Patterson at Bridgewater today was just brilliantly laying out the conundrum of economics over into markets And she made the statement that equity markets could prosper simply because of better nominal GDP of the inflation pop in the real economy pop Do you agree with that kind of analysis that a better nominal G provides an nominal GDP provides an animal spirit that gets the nodes for corporate America I do in fact nominal GDP tends to have more of a correlation to earnings than real GDP The rub is that if we're in this consumption slowdown period and we start to lose that pricing power That to me is the big question that is yet to be fully answered as we go through this earnings season But yes I think that that target in terms of corporate earnings is much greater to the nominal side than the real side Plug time Best charts out on Twitter in the early morning Liza and Sanders of Charles Schwab Thank you so much Thank you guys For joining us today With our news in New York City here's Michael Barr Down Paul.
KQED Radio
"schwab" Discussed on KQED Radio
"Of retirement to not match the reality. But reality has never quite looked like this. I'm Kristin Schwab for Marketplace. Mm. I saw on the weather today that there's another storm coming in New York City. That is quite possibly the last thing that city needs more rain, the prospect of more flooding even as it And communities and industries that we're in hurricane ideas path. Are still setting things right. So we've gotten Austin Golding on the phone down in Vicksburg, Mississippi, where he runs the Golden Barge line. It is one of those industries where the weather can be a big factor. Hey, Alison, how are you? Hey, guy doing wonderful How you doing? I'm alright. I'm alright. But I have to tell you when I heard that storm is coming through, And maybe this is me being too close to my sources. First thing as well, Not first thing, but one of things I thought it was man. I wonder how Vicksburg is doing. So you guys did you do all right? Oh, yeah. We were lucky to be on the West side of it. So all that dryer that kind of Cooled it off. Once it got into the mid part of Mississippi. We barely had any rain. It was nuts. Wow. But But, I mean, I heard from the corps of Engineers like the Mississippi River reversed itself. Did that not hit you? It did. Yeah, it did down around Baton Rouge, You know, probably two or 300 miles south of here, and it wrecked Probably 3 to 400 barges and and a couple dozen boats at least. No injuries or death, which was pretty unbelievable. But the hurricane came through in a path. It was.
Voice in Canada
"schwab" Discussed on Voice in Canada
"I mean as you know there are a million sleep. Sounds now on exaggerating. But there's a lotta sleep sounds on on unlucky alexa now. So that's a pretty big claim to fame. I think that's pretty cool. You're the very first you or the. Oh gee you're the number one sleep sound very cool and so you created this whole business around multiple sleeps downs and so you've got you've got tons now like what are some of the sounds of people can listen to you. Yeah so we're up to believe ninety four sounds now Ranging from you know things like rain ocean waves thunderstorms to kind of the more obscure things like a dishwasher or dryer or a farm. You know Yeah people people request all kinds of different sounds and it really. It depends on where people grow up like. Someone grew up on a farm and they fell asleep to like cows mooing. Then those are the sounds that they request that they fall asleep to more easily So we we try to we. We tried to basically tally all different. Sound requests that we get over the years and figure out what people want most in create those curious like what you mentioned like dishwasher is that is that the most obscure one of the other ones that are really really obscure scared. Ho gosh there are there are some others No we have the sound of snoring That was that was released recently. And that was actually one of our most popular requests because folks will say oh. My partner is gone on a business trip and i can't fall asleep without their snoring. Just like it's crazy but it's really cool in getting feedback from customers saying that are sounds. Help them fall asleep Really fulfilling
The Last American Vagabond
"schwab" Discussed on The Last American Vagabond
"Know what the process is going to be like so the process was seriously Spending about two to three weeks Looking in everything That could possibly mention the names at looking through swiss newspaper archives german archives. Of course the first thing you gotta do is look at the at speculation and the rumors you look at what people think they never they never will they turn out to be at the end. The people who fought that it was a guy called think he's named some like joseph's phob and he was. The secretary of hitler and people really will like our choice. Probably this guy because he was the secretary of hitler's that makes sense you know and it's that simple but we're dealing with cool twelve via uppish mobile and the schwab's living And a lot of the Peop- the jewish immigrants fleeing refugees fleeing the pogroms in russia during the eighteen hundreds would also pick the name of regions where they settled so that they they wouldn't necessarily stand out as much as These areas had massive amounts antisemitism but less antisemitism the area just over there and so they were running the more anti semitism in the from the fire. Frying pan eventually into the fire. Like you know truly So did the thing of it is about this hour because such a a wide you got to start at the very beginning and workout who his family were was. I had cow schwab and to it backwards and finding out his father's name the room is easier to find out the fact and see it. Written down in official documentation was harder to come across Eventually with the fan on the family side to the front to work. How is ancestry. I came across the document which wasn't marked episode clash schwab fingle family history but it was a document a someone had taken a scan of a swiss is as school document from one thousand nine hundred fifty where Eugene schwab applied to for swiss ship a game so five years after the wall after his experiences in the world that we can talk about He he's trying to get away from germany and go back to switzerland so obviously things have changed for for for you jen schwab. This actually is in the correct document. I think but. I just want to pull up and show that for those interested what you should be. This article is incredibly well. Sourced with all the things he's pointing out. I just want to show you know this is something. I don't believe you actually have an image of that documentary article..
Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change
"schwab" Discussed on Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change
"Okay lightning round two last questions. Based upon the data from the benchmarking study. What would be the one best piece of advice. The one best practice you would offer to a business owner. So let's say it's an ria managing seven hundred million in assets in business a number of years. Obviously the immediate goal is to get to a billion and the mid term goal is to get three and five billion. What's the one best practice you'd share with that firm without knowing anything about else about that firm if they have not revisited their strategic planning process. That is where you have got to start because we've been such a reactive mode. I've not seen anyone who had a twenty twenty strategic plan that had a mention of prepare for global pandemic and social unrest. And all this crazy stuff that got handed our way. It pushed most businesses to reactive mode for a large part of the year. I am seeing a lot of back to the basics on strategic planning getting the leadership team together often virtually to sit down to drive true around. What are we going to accomplish. And what our priorities for twenty twenty. One i don't think you can skip a stuff like that. That's so important and the number of firms that we see do this and they set five year goals and then come back to us three years later. They breached all their five year goals. It's pretty tremendous and powerful. I'm a really big believer in that. And i think in times where there's so much challenge. You gotta get back to this day. Fix next to the in one other thing i'll say purpose. Values vision that matters to firms and two employees. And that's one of the ways to keep your firm culturally strongest to refocus on those things communicate on those dimensions. Yeah love it okay. Last lightning round question. So what would be the one best practice or the best message to a perspective breakaway. So this is an advisor that isn't employees at a brokerage firm and thinking about going independent. What's the one piece of the best practice based upon the data that you share with them. I think this is often something. That's in the back of people's minds for many years before they get action and i would just encourage them to think about talking to someone in the industry who has done it or even teams like we have at schwab. That will help you. Think through what am i trying to design. What do i want it to be. What are the economics. Look you can really demystify the trade offs and once you start to go through that process advisors will find that they know a lot of the answers because they've been thinking about it for such a long time but there's other places where they haven't thought about it at all. We help guide them through that process. It's exciting. I think once you go through this in you see wow. I really could build this thing. That i've been thinking about in the back of my mind for a long time. it's pretty compelling. It's almost irresistible. The not do it Limit lisa thank you so much. I hope that you'll agree to visit us again. As you begin to gather more relevant information whether it be next year's benchmarking study results or use of compensation study or anything of the sort. I really thank you for your transparency and your graciousness in sharing it off. Thank you so much media love to the conversation. I would love to come back. I could talk to you all day long about this stuff. Thank you sir. The best independent firms in the industry. Don't get that way by accident. As lisa described in the schwab study reveals. It's all about strategic planning laser focus and building a firm with the denied. I thank you for listening. And i encourage you to visit our website. Diamond dash consultants dot com and click on the tools and resources link for valuable content. You'll also find a link to subscribe for regular to the series and if you're not a recipient of our weekly email perspectives for advisors click on the blog link to browse reason articles. These written pieces are an ideal way to stay informed about what's going on. In the wealth management space without expanding the energy that full-on exploration requires feel free to eat male or. Call me if you have specific questions. I can be reached at nine seven three four seven six eight five seven eight or by email at am diamond. At diamond dash consultants dot com. Please note that all requests are handled with complete discretion and confidentiality and again. If you enjoyed this episode feel free to share it with a colleague who might benefit from its content. This is mindy diamond on independence..