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Hello this is Matt on the moon family Sedan channel are you ready for a trip Into Looney Tunes land because that's Where we're gonna be living for the Remainder of this latest Moon family Sedan room temperature Jam Unfortunately I've got more to cover From Jimmy Valley of Val Hill Capital They recall that he's the one that's Been putting out all the ideas about the Xrp buyback and the government buying Back xrp and uh you know in charge of The entity or part of the entity well he He started the entity uh that's uh it Came up with the crazy absolutely Looney Tune bat s word crazy xrp valuations Where it would go up to 122 000 per coin or something like that Nonsense ridiculous crazy stuff Uh well now Um he's talking about making xrp by Decree effectively worth ten thousand Dollars in starting a bank and Apparently it seems as though he's Wanting xrp holders to send their xrp Into them so look Jimmy Valley I gave Him the benefit for of the doubt from The beginning I I did I was like I think He's just deeply misguided uh but now I'm seeing he's not operating good faith Because as as very clear Holes in the valuation models of you Know xrp 123 000 as those holes became Clear and could not be disputed by
Anybody they didn't retract the models They kept touting it and then it came up With more models they were retracting Their nonsense that was proven to be Wrong and it's not an opinion you don't No no There are facts in their opinions this Is a fact there's holes in the model and These didn't retract it so not operating In good faith obviously while at the Same time monetarily incentivizing his Crew to convince people to hand over Their xrp Um to a third party and then the people That convince uh you know the xrp Holders the hand over their xrp they get A commission on it effectively they do They're they're getting a cut of it There was just a shady sounding business Model and so now Um he's he's still apparently as far as Looks like he's still trying to get xrp From people now now in a different way And so Jimmy Valley Clearly an intelligent person But he's saying Bonkers things which he He has to know don't make sense because He's not stupid And apparently he's an attorney So I don't see how somebody with that level Of intelligence could be saying the Things that are so obviously not true I Don't see how somebody that is that
Intelligent could have good intent And so I'm just warning people out there Because I don't want our community to be Harmed here I am not convinced that this Individual is operating in good faith Because you know the obvious holes are Not you know the valuation model they Don't make sense uh you know Incentivizing people to you know hand Their xrp over and send it to a third Party where they're no longer in control Of it that's terrible idea and he's Trying to convince people to do that for Monetary benefit So I'm going to share with you the Latest but it's ridiculous nonsense Stuff but this is in part just a public Service announcement because I can't Imagine somebody would behave like this Um with this level of intelligence in Good faith if I thought that he were Actually stupid in saying this stuff That would be one thing I see stupid People saying stuff all the time we all Do right that's not what's happening Here this guy's not stupid I I think there's not good intent here I'm just gonna say that's my speculation I I that's don't know for sure But that's what it looks like before Going further I do and be clear I do not Have a financial background of any kind I am not offering Financial advice and You definitely should not buy or sell
Anything because of anything I say or Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun all right and so there's a Video clip Uh between uh well shared by my fellow Super YouTuber crypto Eddie and it's Jimmy Valley there on your screen with The glasses and he was being interviewed By uh crypto Lulu I think that's the Guy's name anyway ESS seems to also on his own have some Very interesting ideas but crypto Eddie Wrote it appears the xrp buyback is Morphing into a bank Looks like participants would still be Sending their xrp excuse me Not a game I want to play with my xrp Yeah and spot on and so I'm going to Share with you the transcription of what Jimmy Valley said and it is complete and Utter nonsense it does not make sense And then I'm going to share with you What I wrote and you'll see why I'm I'm Questioning I don't I'm I'm not making Any sort of firm assertion against Because I don't have I don't have that Level of fact I'm just noting that the Behavior is so peculiar and so out there I don't know what it could be other than Bad intense because he's not stupid That's that's what I'm saying he keeps Trying to get people to hand over their
Xrp that's what he keeps doing That's the opposite of what you should Be telling people in crypto to do just In general this is awful And so uh anyway here's here's what Jimmy Valley said This is the quote transcription It seems like where most people would Like this this to go is not to basically Sell it to the government in a Buy-Back Kind of thing But to basically collateralize a new Bank call it the People's Bank not to Sound like communist China it's the People's Bank and then use the value of Those assets to draw down basically draw Down Fiat and then do mortgages and Stuff you know exactly and because this Bank is more liquid because it's got the Xrp you can do things So you know one thing you could do one Thing you could do is have a group of People Come to an agreement that the fair Market value of xrp is very high let's Say ten thousand dollars we could all Come together put our ten thousand Dollar tokens into a new entity Collateralize it then use Fiat loans Against our xrp to acquire gold and Bring gold into the bank and now all of A sudden when the collapse finally Occurs who's left standing with the gold And the xrp
The most liquid wealthiest Bank there is Folks that is Fantasyland nonsense crap Xrp is worth ten thousand dollars Because we say it is oh is that how it Works with Assets in life I didn't know That I got a bag of Skittles I say it's Worth ten thousand dollars and then when A financial collapse occurs because I Said my Skittles are worth ten thousand Dollars my Skittles are worth ten Thousand dollars because I'm an actual Dumbass no that's not how this works and He's not a dumbass he he's just this is This is the thing though Okay because again I I think I don't Know how there couldn't be bad intents Here but isn't this the behavior you'd Expect if there's bad intent because you Don't need to convince people like me I'm not a dumbass You know you and you don't even have to Be stupid necessarily fall for like People can be conned just because under The right circumstance I think anybody Can be tricked I believe I could be Tricked under the right circumstances For sure like a perfect example the Other day I was uh using venmo which I almost Never used but I had occasion to use it Twice in very short order And Um
And then I I got this random scam text I'm sure a lot of you out there get These as well just random then say your Account's been locked this or that and Then there's a link so I I see these all The time for various it could be your Netflix account or you know whatever it Is Amazon they're all scam things well I Got one from bit from venmo and I hadn't Used venmo in years but I had caused to Use it twice recently and it said that I Had specifically two transactions that Had failed now I don't know if they Actually knew that I had two Transactions perhaps what's more Probable is they send out very specific Messages understanding it's a very low Probability that the person you send it To is going to relate to it but once you Get that relation that's where you get a Higher probability somebody will fall For it because that was specifically Something that did occur in my life so Maybe it was just a coincidence I don't Know for sure but the point is that you Know as soon as I saw the link I was Like instantly I thought okay this is a Scam but if I didn't realize that I that Would have made it way more likely that Me not being a stupid person still could Have fallen for something I think as an Intelligent person I still could be Tricked I think you listening could be Tricked on the right circumstances some
People are more gullible and if you are Financially illiterate you're way more Likely to fall for the crap that he's He's spouting here so if you don't have Much of a financial background at all if You don't even understand basics in Finance what he's saying sounds complex Ooh and intricate and he seems like a Smart guy well then you're the small Percentage of the population perhaps That he's looking for and that's the Thing it doesn't take many people at all For this to be why wildly profitable for Him That's the problem You know and again he's he's people are At least from the previous plane I don't Know if he's changed it but on the Previous plan people are incentivized For this Buy-Back committee to convince People to hand over their xrp So anyway I responded To crypto Eddie's tweet with that clip There with the following I wrote what an Insane idea He's talking about people magically Deciding that xrp is worth ten thousand Dollars regardless of what the current Market price is it would then have two Different prices this is a stupid and Broken idea who's he trying to trick and Again so I don't know what he's doing it Looks very bad surface level I'm not Saying that he's running a con I'm not
Saying he's doing anything illegal just To be crystal clear But I don't know how what how he could Be operating in good faith based on the Nonsense BS that he's spouting that's All I'm saying I have no evidence he's Doing anything wrong or illegal so I'm Not going to state that I in fact I'm Stating very clearly uh I have no Evidence that he is so I don't actively Think that he is But how could I not suppose that he may Be up to something You see what I'm saying And so you know in terms of the this Idea of backing something it's such Nonsense I wrote galgotron said it best Years ago and here's something that Galgotron shared many years ago xrp Community member Couldn't they and this is from his books Couldn't they they uh back xrp with gold To drive the price up the confusion Surrounding this never-ending meme stems From the failure to grasp that assets Can only be one of two types number one Backed an example of a backed asset is Paper money coupons bearer bonds Etc if A coin is backed that means the price is Guaranteed by a third party to match Whatever it is backed by a gold-backed Coin means that the price of the coin is Tied to match the price of gold Essentially the coin is a coupon for a
Specific weight of gold our number two This is the alternative it'll be Self-valued an example of a self-valued Asset is gold or platinum or Bitcoin or Xrp a coin that is self-valued isn't Backed by anything it is simply valuable In and of itself it directly serves the Function of an asset it's not a coupon Its price is determined by by what People are willing to pay for it I hope it's self-evident that a coin Can't be both backed and self-valued at The same time but if it's not let me put It this way when you sell something you Have to decide what it's worth if it's Backed by gold at five dollars and Self-valued at 25 cents what does that Mean how much is it worth that's right It can't be worth both 25 cents and five Dollars at the same time so it's either Backed or self-valued now folks that Couldn't be more obvious so when you Have an open market price from people Speculating of xrp today at 45 cents and Then you have a group of people that say It's worth ten thousand dollars even if You back and buy something what's it Actually worth It can't be worth both it's worth the Open market price Could not be more obvious and so if You're missing basic information like This like this is really basic level Stuff here if you're missing that then
You might think that there could be Something to what Jimmy Valley's saying Here And then I wrote imagine a used Ford Explorer it's fifteen thousand dollars Would it make sense to have a group come Together and say that says that a Comparable Ford Explorer in their Position is now worth a hundred thousand Dollars no of course not because the Rest of the world doesn't agree and Won't buy it if you can just make up the Price of any asset then it doesn't need To be xrp anyway it doesn't need to be Xrp it's like he's talking about putting Up collateral but then attaching a fake Price which is not how collateralization Works So why does this need to be xrp if You're just making up a price for Anything why does it have to be xrp why Did a different crypto why not Skittles Why not Gummy Bears pick your candy I don't care It doesn't matter but yxrp Doesn't this the alarm Bell's gone yet Anybody else a little bit concerned About what's going on here Former Ripple employee Matt Hamilton Responded to crypto Eddie and wrote This is hilarious so it is a it is now a Bank In which he is going to cook the books To say that xrp is worth ten thousand
Dollars and now somehow use that to buy Gold despite everything else everyone Else thinking xrp is worth the market Value he is basically describing a scam That's what Matt Hamilton says There we are let me know what you think I'm not a financial advisor you should Not buy or sell anything because of Anything I say or right that would be a Very very very bad idea until next time To the Moon family sedan
