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[Music] Ignition sequence starts six five four Three two one zero liftoff we have a Liftoff [Music] Hey everybody this is the digital asset Investor and we got we got a a big news Day today there's I'm kind of Overwhelmed already but that's okay That's why I'm here that's why I do two Videos just in U.S government is hit It's 31.4 trillion dollar borrowing Limit That's the same 31.4 trillion that will Never be paid off and couldn't be paid Off this lady had a great tweet would You invest in this business total debt 31 trillion assets 4.8 trillion annual Revenue 4.9 trillion annual income 1.4 Trillion loss This is the U.S government Folks and then there's this from gold Telegraph breaking news the U.S Government has hit its borrowing limit The treasury has activated Extraordinary Measures to keep paying the government Bills the circus is starting this Country has complete com turned into a Complete circus that the and all the People in the circus they ignore the People they ignore what the people Really want including her all these People are the problem these agencies Whether it's a Gary Gensler whether it's
Her whether it's a Ben Bernanke they are The problem The common sense is gone these people Work on the interest of someone that's Not us okay that's why one of the Reasons that Glenn is my sponsor is Because I'm buying gold some in my Glenn Account some physical and I'm doing it Specifically for this reason as Protection against these people and what They're doing to try to protect my Family Okay the link to this will be in the top Of the description again with the Glenn Account That way when I buy gold in my Glen Account I'm able I have my debit Mastercard and it it's spendable gold And that's why I've Diversified and I Have some on that and I have some Physical okay now same government that That has ruined the value of our money Same government is the one that's gone After Ripple For they've gone after all of us all of We people who saw an opportunity saw Some some who didn't even know who Ripple was but saw this digital asset That and thought maybe this thing Could better our families okay well James fillan who has been there from the Beginning and kudos to him says there it Says his scheduling update everything is Briefed now we wait and I thought what
Better time than to remind Congress of What's gone on and I said Congress Everything is now briefed in the SEC Versus Ripple this is an unprecedented Case where the SEC has literally Actively harmed the xrp investors they Claimed to protect for over two years Today is a great day to re recap why Today must be a new day in the USA aside From Charles gasparino and Eleanor the Mainstream media completely ignored the Facts of the regulatory capture that's Going on here Um the the rest are willing to the Everybody else is willing accomplice to The Regulators who protect Wall Street Instead of investors we are for we were Forced to fight this battle at the Grassroots in social media just as the Commitment fought and you know as I was Typing this about the Minutemen I'm Referring to back in the Revolutionary War one of my favorite stories was how The Minutemen literally these were just Farmers who would pick up their guns and They would they would hide behind trees While the British army would March in Formation and it was the only way that They could fight them well I see what We've done in the Ripple cases very Similar we're not these high-powered Lawyers and all we're just people who Want something better for our families And we realize what this is this is a
Government who is coming after the People it's a God it is all these high Dollar lawyers who are trying to help Their buddies on Wall Street and all These Wall Street firms and maybe China Don't forget that And we were in a position where we had No choice but to fight none of us wanted This fight I said this case has been a sham from The word go and the people involved need To be held accountable these Regulatory Agencies have lost their mission in the Favor in favor of interest that have Nothing to do with protecting investors And everybody knows it I copied all These Congress people on this so that They can be copied now this is the the Video of what really happened that was Put together by John Deaton and his Law Firm crypto it's Crypto-law.us if you want to go to their Website Um and check out they've got everything On this case and this is um but this is The the little cartoon commercial they Put out many of you haven't seen it and You're going to see it today just to Remind you of what this SEC has done to The ex the same investors that they're Supposed to protect Gary Gensler J Clayton Bill Hinman say you did your Research and invested in an asset you Knew a lot about
Owned by millions of people and billions Of units trading on markets around the World and you played by the rules as you Knew them But then one day your investment was Wiped out This really happened to millions of Ordinary people who invested in or built Their business with the cryptocurrency Xrp But it wasn't because of a scam or fraud Or Market volatility it was because of The U.S Securities and Exchange Commission The SEC claimed in a lawsuit that the Xrp token is an unregistered investment In a company called Ripple that uses the Token most RP holders I've never even Heard of Ripple so they looked into it Xrp holders discovered that SEC Officials Jay Clayton and William Henman Both have Financial ties to xrp's major Competitor ethereum in fact in 2018 While he was still working for the Government Inman gave a speech that was Largely written by lobbyists declaring That ethereum's cryptocurrency ether is Not a security Ether's prices skyrocketed more than 600 Since then foreign Government office and collected 15 Million dollars from a law firm that Promotes ethereum The same factors Hammond used to argue a
Free pass for ether could better be Applied to xrp And yet when xrp users asked the SEC for Regulatory Clarity they never got a Straight answer Instead on his last day at the SEC Jay Clayton filed suit against Ripple Causing the value of xrp to plug and With it many investors hopes While xrp holders are waiting for a long Court case to play out Hinman is a Senior partner with the billionaire Ethereum investors who helped write a Speech and Clayton is working for a Hedge fund that made a billion dollar Bet on bitcoin and ether The SEC shouldn't get to pick winners And losers which is why tens of Thousands of xrp holders have entered The lawsuit as Friends of the Court Against the SEC The outcome of this court case will Influence the future of regulation for All cryptocurrencies in the United States if the SEC wins what happened to Xrp could happen to every crypto coin But even more troubling would be letting Political appointees from any party have More control over your Investments than You do yourself Government Regulators have to level the Playing field not unfairly tip the scale For their friends For more information and to join the
Fight visit cryptolaw at Crypto-law.us If the SEC is not going to protect us Then we have to stand up for ourselves Yes sir just like the Minutemen did you Know and what you know what's even more Sad about this country now is that as I Was typing that about the minute the Minutemen from the Revolutionary War it Occurred to me I learned that in the History books when I was growing up it Wouldn't surprise me a bit in this sick Country we live in now if they had Somehow erased that so that so that These government people don't have to Worry about people rising up anymore That wouldn't I wouldn't put that past These sickos any at all now I love this From Wheezy all hell will break loose When those emails are released Ripple CEO says people will be stunned at the Sec's behavior when hinman's emails come To light I still say even though even Even Brad garlinghouse acts like he Doesn't think there will be a settlement But I think that Gary Gensler is I think That this guy is so awful that he would Wait until the very last half of a Second before settling I think that he's That kind of a person until he just knew Literally until he knows that the judge Is about to rule against him I think I Mean if that's possible I'm no attorney But anyway the last half a second that
He's eligible to be able to settle is When I think he would do it because I Think he's that much of a creep show Most legal experts and crypto Practitioners who have followed the Landmark case appeared to believe the U.S government failed to prove its legal Theory for bringing the enforcement Action Now Brad galling house is at the World economic Foreman yesterday he did His part on stage now this was this was My impression I got the impression that The entire that it was the entire panel Against Brad garlinghouse that was the And I'll show you why here's the first Uh part of it what I'm going to do First I'm going to show you this video This is Eclipse uh this guy put out let Me make sure I follow this person Um this is a clip where two of the other Guys on the panel are making a taking a Shot in my opinion at uh Ripple watch This first of all they call it Ripple Instead of calling it xrp and you know They know by now can you just give a Sense of what that is and why I guess This is not the pleasure being able to Use today I was promised one repel to be Honest pendant so uh but Um in all honesty I think the first and Foremost things I want to describe is The uae's um And this other guy I think is this the Guy that the central Banker from the
Netherlands closure to FTX that lead off 40 of its staff it was able to tap a Federally provided lending Reserve that Is only available to Banks but not to Crypto companies you know so even if we Have CEOs like Jamie Diamond out there Saying I think his latest is Bitcoin is Hyped up fraud there are other banking CEOs who are clearly interested in Playing in this area Yeah well uh thank you very much also For having me uh if I had been offered a Ripple by the way then I would probably Have had to decline the information they Mean xrp not right ripples the company Xrp is the token good yes anyway but um The whole the whole theme of it felt Like that like it was like they were Kind of taking shots at Brad Garlinghouse I'm going to play you the First half of this Um these I took I cut out and put all The Brad Parts in here I'm gonna play You the first half of this and then in My next video I'll play you the second Half it's exciting uh like I feel a Obligation to you know advocate for There are these new technologies that we Can use for the betterment of economic Value to our citizens to our businesses Even to central banks and I think to the Extent we can focus on hey these are new Technologies that can be used in that Way like the earliest days of the
Internet uh can these Technologies be Used in illicit ways yes and certainly We saw the early days of the internet And people Oh yeah I guess yeah well there is a Much louder uh higher decibel level Called in maybe the 90s when people are I think more intimidated by how these Technologies are being used and I think We're seeing that play out in the world Of blockchain as well I thought it was Interesting you described the UAE uh Regulatory as light touch Oh describes light touch all right I I Actually give huge credit to the UAE do You have a viral license no we do not Other uh we might I don't know the exact Answer to that but we do not currently The point I would make though is you do Those thank you I did the point I would Make though is the UAE has done the work To codify what the regulations are I think the challenge you know and we Discussed this before we got up here I Think the vast majority of players in The crypto space want to be good actors But I think we have to be clear about What that means and I think one of the Challenges is and I very much agreed With some of the Commissioners said we Talk about regulating crypto I think we Should that's an abstract thing to say To it from my point of view we need to Regulate the the activity what is it
That we're doing so Ripple is in the Business around crossword payments our Customers are banks our customers are Regulated institutions you can't have a Non-kyc know your customer transaction Etc uh there are lots of regulations Around payments like know your customer Like AML anti-money laundering like ofac Compliance in the United States Etc Anti-terrorism Finance so I I think when We say crypto is not regulated I hear That I think I don't know what that Means like Ripple is a very regulated Company and lots of different Jurisdictions not yet in UAE perhaps Although I don't think we I don't know Exact status Uh the the point as much as I think it's A misnomer to describe crypto as an Unregulated business in the U.S you have The SEC someone at the chair saying it's The wild west look there are clearly Examples where that's true but there are A lot of people doing solving real Problems for real customers and taking The air and the froth out of the hype And speculative bubble that really was True in crypto I think it's really Healthy I think one of the challenges Here is there are actually very few People describing crypto as an Unregulated business what they're saying Is that it is insufficiently regulated And that there are certain types of
Activities you know separate out the Obvious and egregious fraud scrap fraud Scams and grift but there are certain Types of activities that are either Being presented to customers as Potentially safer than they are or you Know the the promise of guaranteed Returns when there are no such thing or In the US for instance Um many investors and certain of these Crypto companies several of which have Now on bankrupt we're under the Impression that their deposits were Insured by the FDIC which is that up to 250 000 of whatever the deposits were Would be protected and that was an Impression that was in a lot of ways Encouraged by the marketing and the Advertising of certain types of these Entities but we have laws about that Right and now oh frankly I think instead Of going after Kim Kardashian for Promoting a 19 dismissed but I didn't Actually know that I think we I think She's wrong I don't think that was as I Recall that was it may have been settled She paid like a million dollars to Settle it and then This Woman's calling That dismissed I think that's called a Settlement The things you're describing and even When you talk to again backstage like if There's fraud we have laws about that in Major but I think I I guess my comment
Reaction there is only what I've read You know I saw this week the three Arrows Capital guys are raising a Distressed crypto debt fund that made me Scratch my head a little bit uh like I Can I I think about this as an analogous To okay when a hedge fund blows up Birdie made off uh we should look at Okay what what went wrong there why Didn't we see that coming because It's a very very similar very analogous To what happened with Madoff well But but these guys there's two those two Things I was feeling in that interview First thing it's just like remember how Remember it all goes back to Charles Hoskinson look regardless of whether People are right or wrong about there Being a settlement or some date that They said they heard or whatever they Heard something Charles hoskinson heard Somewhere that that uh the decision in Ripple would be would be or a settlement Would be really bad for the rest of the Industry if it's good for ripple but It's bad for the rest of the industry That would mean Clarity for X to me that Would mean Clarity for xrp but these People are all acting like a bunch of People who are Almost a little irritated that Brad Garlinghouse Is so confident Almost it's almost like like they like
They know something we don't and I could I mean that could be totally off but That's what it feels like now I'm going To play the second half of that after uh In the next video I'm the digital asset Investor I'm not an investment advisor This is for entertainment purposes only Please Subscribe hit the like button and Tell your friends and family that I feel Like there is some tension here I just do [Music] [Music]