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Ignition sequence starts six five four Three two one zero liftoff we have a Liftoff Hey everybody this is the digital asset Investor and I just got my ten-year-old McDonald's because if I don't do it I will be held accountable around this House this kid expects it on Friday Morning okay there is a ton going on I'm Having flashbacks of the financial Crisis but guess what this time I kind Of saw it coming liquidity is Disappearing on but this time's Different also by the way liquidity is Disappearing all around the board S P 500 lost 600 billion dollars in two Hours crypto markets down 40 billion Four biggest banks in the US down 50 Billion Bond markets trading like mean Stocks all buyers are gone as inflation Is here to stay this comes after Um what appears to be a historic move in Markets Bank deposits just fell for the First time since 1948. More specifically accounts with 250 000 Plus contributed uh the most to this Okay so that right there Is in direct if you remember that is That right there is in direct reaction To this video you'll remember watch It's important that people understand They can be mailed in but you don't want A huge run on the institution but they Have I mean they're going to be that's
And and it could be an early warning Signal to the FDIC and the primary Regulators when these things happen and There may be some other Prices this is uh similar to what Jay Was saying in the market that You can tell whether people understand How the who's going to be protected who Isn't going to be protected People need to know but I don't think You have much hope of reaching a public That doesn't have a professional need to Know I completely agree with that I almost Think you'd scare the public If you put this out like why are they Telling me this should I be concerned About my bank Like my insurance company doesn't tell Me what they're doing with my assets if They just assume they're gonna pay my Claim Okay but that conversation was basically Let's not tell the public let's keep This to ourselves and don't worry all of Our friends are taken care of because They're in the know and uh then you of Course yesterday you had 47 billion in Market value lost by the top four Banks Right there Then um look at this chart from the FDIC Look at 2008 unrealized gains or losses On investment Securities by Banks look Right here that's 2008 this is right now
Unbelievable Um and all this is by the way all this Is created by your central bank they Left interest rates at zero and printed Money for how many years since the Financial crisis Years folks years and every all those All those jerks on CNBC The Steve Leesmans they acted like that was just Normal that's just the way this works And now they're going to cover the Collapse of of the banks and maybe the Freaking Financial system as as they act Like they're innocent bystanders and They're there to help you figure all This out It's complete crap Jason cousins from Glint who is one of my sponsors warning Your assets are at risk look at this Investors dump U.S Bank shares among Amid fears over the value of the bond Portfolio when people realize that There's no money in the banks yesterday Was a bankrupt uh began there Federal Deposit Insurance bank regulator showed That U.S lenders are sitting on 620 Billion of combined unrealized losses Okay so this is one of the reasons that Glint became one of my sponsors is Because a glint account is not a bank Account it's it's a way that I can have A separate account from all these Banks And in that account I've got gold Instead of worthless Fiat and also I get
A MasterCard debit card and I'm able to Buy gold within the account save gold I Can send it Then I can spend it If things get really bad and I need to All right check this out Scott Chamberlain who is an attorney I think He's an attorney let me check this out Make sure former lawyer entrepreneurial Fellow uh of this college so uh with a Decision in the SEC versus Ripple Seemingly not I thought I'd do a stupid Thing and predict five outcomes summary Judgment for Chris and Brad that's his First one I don't think the SEC has Anywhere near the evidence to support The they knowingly or recklessly sold an Unregistered security too summary Judgment for ripple in respect of Overseas sales Ripple sales of xrp and Overseas exchanges are not within the Court's Jurisdiction a wholly new President would be set to deem those Domestic transactions finalized in the U.S summary judge number three summary Judgment dismissing the part of the case That asserts xrp itself is a security no Precedent supports the digital asset Itself being a security this claim was Contrivance for the SEC not to have to Prove each sale and to avoid the problem Of overseas sales what proceeds is Limited case about whether any of Ripple's sales of xrp in the U.S
Involved in unregistered investment Contract because two and three because Of two and three the case Settles This that's a thumbnail right there and That's what I believe too I happen to Believe the SEC underestimated that most Of Ripple's sales occurred in overseas Exchanges through algorithmic trading Once overseas and secondary market sales Are excluded there's insufficient meat Left on the bone folks I believe that This clip by Charles hoskinson was the Canary in the Gold Mine somebody uh or Coal mine ah gold mine you like that Um but uh I believe Charles hoskinson You know I've said on this channel Before I heard from I heard Seinfeld one time He said in the the key in comedy there's Got to be some grain of Truth in what You're saying or it's not funny because People can't identify with it well same Thing with rumors Pretty my experience is that rumors Aren't coming from nowhere there's Something there and I always believed When I heard Charles hoskinson say this Then we we saw him react to the way that Oh I'm not going to be on stage with Anybody having to do with ripple or xrp I always thought that was kind of an Overreaction because it wasn't the People at Ripple saying anything to him It was people online uh that are xrp
Enthusiasts and so why would he react That way well I think he would react That way if he's if he started hearing Whispers that Ripple comes out of this Thing with xrp Clarity but he and the Rest of the market come out of it with a Target on their backs permanently or at Least for the next two years this is the Club this one right here hey Charles Question proof yeah Cardinal is ruled The security by the SEC well the SEC can Get asserted but then they'd have to sue Over it and there'd be a long litigation Process the foundation would have to Fight and go through uh and you know Regulations regulation it's a Hypothetical and there's nothing in the History of cardano that feels security Like Beginning to where it's at today to the Fact that the network is fully Decentralized and so forth I would Believe that then ethereum and Bitcoin Would also be Securities and it'd be in A bigger debacle and this problem with Regulations through enforcement you know There's not much you can do Um just any given Sundays whoever the Regulator decides to pick and Organization there's a big fight 100 Million dollars is spent it's brutal and Vicious and a lot of hard feelings and Sometimes people win sometimes people Don't I've heard rumors that the Ripple
Case will be settled December 15th and We'll just see and that could have Catastrophic implications for the Industry one way or the other uh but you Know you just keep moving forward all Right I believe I believe the Whispers That he was hearing is that scenario Where xrp all of a sudden gets cleared And if you look at what we're seeing Right now And and I'm not saying Ripple will get a Full win but I think I think a partial Win will put xrp in a place that no Other digital asset is in at the end of This then Along Comes this yesterday Uh from Eleanor tarrett her name's I Think her name's Leticia James the New York attorney general said she's suing Kucoin okay because they let investors Trade popular virtual currencies such as Ethereum Luna and terrius and that her Case is among the first bi-regulator Alleging that ethereum is a security And she copies vitalik buterin and Joseph Lubin on this to ask them their Thoughts now folks There's a lot going on right here when I Saw this It's kind of like um One of those moments where all the stars Align and you You're for me it was literally one of Those moments where I was like we've Been right about every single part of
This thing Every single part how many times have we Said it was never Bitcoin it was never Ethereum xrp the one Folks look at this so I I of course the The uh this guy is is from coin Center And remember You know and look I'm not one to gloat But you know what I think we we in the Xrp community deserve to be able to do a Little bit of gloating here and then We'll help fight for the whole industry But in the but remember because we spent Over two years with no help from these Jerks this is this guy's from coin Center they didn't help they didn't do Anything blockchain Association came in Right at the end and filed an amicus Brief and then that's about it Then we had uh who's the other one I Want to make sure I name all the names Well anyway I don't remember the other Ones but but that's that's the coin Center these guys were Bitcoin ethereum Max he's all the way and the second that This thing there's even a whiff of a Threat to ethereum what do they do oh we We disagree with them on ethereum being A security they didn't do anything to Help on when the xrp case came about and So my question is hey coinbase udlisted Ethereum in fact Brian Armstrong I mean You de-listed um xrp the second that There was a whiff of a lawsuit okay but
Not but Brian Armstrong had dot Ethan His name until he started hearing Whispers that eth might be in danger Then he took it out well what's good for The goose is good for the gander all it Took was a suit for you to de-list xrp When are you going to delist ethereal That's all it took or relist xrp and Keep ethereum on there which is what you Should have done in the beginning How about them apples and then crypto Law John Deaton's Law Firm says for Those who spent the last two years Ignoring the Ripple case and disparaging The warnings from the xrp community Welcome to the party friends and you Know That there's there's some real there's Some real little Jabs that need to be Thrown here's one that I threw last Night Um coindesk is saying is ethereum Officially a security well here's the Bigger question remember that list of All the people from the Enterprise Ethereum Alliance who complete who Communicated with Bill Hinman May 2017 To December 2020. these are the people Who were talking to Hinman who would who Many of whom would have known that uh They were going to create this fake Regulatory Clarity for ethereum well now That we now that they're saying Ethereum's a security if these people
Had an inside knowledge and and owned Ethereum and were buying and selling Ethereum based on the information they Had communicating with the SEC is aren't They did any of these people commit Crimes that's my question Okay then we had the hearing yesterday And I'll tell you part of this when Those those hearing they're talking About crypto on some of this We're not done with ethereum by the way Do you see in the SEC Seem to be engaged in a regulatory Turf War over digital assets so December 2022 The CFT Declared ether to be a commodity yet in February 2023 SEC chair Gary Gensler in An interview with New York Magazine Disagreed with the cftc declaring Everything other than Bitcoin to be a Security Mr Gray Wall is it fair to say That the mixed messaging from the SEC And the cftc and the regulatory Confusion it creates underscores the Need for Congress to step in and bring Legal Clarity to the status of digital Assets I believe it does underscore that Point Congressman Torres as you point Out if the chairs of the two of the most Important Regulators applicable to our Industry into this part of the economy Can't agree on the security status of One particular token that obviously Speaks to the challenge for anyone else
Looking to stay on the right side of the Of the rules and make proper Determinations that are in accordance With legal expectations there let me ask An uncomfortable question if any of you A few Maxis are listening out there Let's say xrp gets Clarity and let's say That that means that going forward xrp And anything built on The xrp Ledger is Not a security Do you really need anything else that's The question If if you've got if you can build Digital assets on xrp you can build Stable coins you can build anything on The xrp Ledger If you have Clarity for that one and I'm Assuming by the way if since xrp is Built on consensus does it would Ethereum by default also be given Clarity because it's a consensus Mechanism too If you had those two would you really Need anything else couldn't you build Pretty much everything that has ever Been built on ethereum only difference Being this would actually work and it Would be inexpensive and it would be Scalable could you do you really need The others that's my question here's Another clip from Congress Thank you Congressman I can certainly Speak to that issue with respect to Coinbase's own experience as a platform
That is regulated here in the United States just to give you some sense of The scope of our oversight we have Something like 45 money transmission Licenses across the United States we are Also licensed as a bit licensee under New York law at the federal level we Have a registered DCM and we are seeking To register an fcm with the F with the Cftc we are also registered as a Money Services business an MSB with fincen Okay he's basically saying you can't Register Gary gentle says oh you just Fill out a form and come talk to us and He's basically saying you can't Then we've got this this is a uh this is A full now I want you to think this all Through folks this Administration and Gary Gensler and all these people they Could easily If they really gave a rats behind about Building the crypto industry and and Keeping Innovation here they could Easily if you're the if I'm the President of the United States easily And of course I'm in my right mind but If they could easily Step to the microphone and say look Here's what we're going to do we're Going to stop all enforcement actions we Don't want to harm this industry what We're going to do is we're going to all Get in a room and we're going to figure This out that's what you do out here in
The real world you meet with people and You and everybody operates in good faith And they work things out if it's for the Good of everybody or in this case for The good of the country but that's not What they're doing what they're doing is Trying to they're trying to create Several battlefronts and shut it all Down okay well That shows you these guys aren't acting In good faith and we even have you know If we've seen anything there's a Question really about whether many of These people are compromised by China so You have to work you have to wonder who In the hell they're really Working on behalf of because they're not Working on behalf of Americans from what I can tell now the U.S treasury Department proposes a 30 excess excise Tax on crypto mining facilities well the Mining part of this I don't really have A problem with because I've never Understood what what proof of work's Even for anyway it doesn't work it's a Big waste of everything I don't get it I've never gotten it now but but I'm not pro increasing taxes on anything So I'm not really for it Now I made this point Nobody in crypto helped the xrp Army When the lawsuit was filed against Ripple over xrp we've been in the Trenches for over two years I do admit
That it gives me some satisfaction to Watch these people finally get theirs That watched us suffer from without Lifting a finger they don't deserve it But I will do what they wouldn't do for Us and fight for the industry as a whole Right after I take a few more Jabs let Me get some of those Jabs out of my System now when I say take a few Jabs it Might be six months worth of jobs folks Coming but after I get done I'll or at Least I'll sprinkle in backing up the Industry as a whole within that but the First jab is who's the coin now Vitalik Butte remember this tweet when The Ripple lawsuit this is uh right Around the time the Ripple lawsuit was Dropped looks like Ripple xrp team is Syncing to new levels of strangeness They're claiming that their coin Should not be called a security for Public Policy reasons namely because Bitcoin and ethereum are Chinese Controlled and then of course there was This one and this is Andrew a guy named Andrew keys he was the guy that was with Consensus who got who um he and Joseph Lubin it's one of them or two of them Talked to Charles gasparin that's how Charles for those of you that don't know That's how Charles gasparino got into All of this folks is because I found This video that from 2018 where Charles Gasparino was was covering on Fox
Business he was covering Um uh how those two guys were working With the SEC and the cftc and that's What eventually became the free pass and It was a clip where he said it and That's what we we threw out there and That's how these guys like Eleanor Turret and and Charles gasparino got Involved I'll never forget it one Saturday morning I literally Um I think it was a Saturday morning and It was I couldn't believe what I was Listening to and I literally literally Called up John Deaton and told and and Played it for him it was like that it Was that kind of a moment now So so this guy was one of the guys that Gasparino was talking to and so that's How we started looking into him This is right after the Ripple lawsuit Was dropped he says xrp's of security Just to be a smart out and remember we Watched Joseph lubeman and these guys Bragging it what it wasn't enough to get The free pass they were like and we've All thought to this day that there was a Plan to not just give them the free pass But to slam the door on everybody else And that's where it got really bad well To him I say hey Andrew ethereum is a Security All right then I'm not going to play This because this I don't want this Video to go over too much I do want to
Play this though this is Jeremy Hogan When he warned the ethereum people about Ethereum 2.0 the change to state -o with an expectation that their stake Will earn them a return that's the whole Point of it so that goes to the Expectation of profit And in its latest guide It's released Back in 2019 for digital assets the SEC Stated that when talking about whether There is a Reliance on others to make Profit that an active participant is Responsible for the development Improvement or enhancement operation or Promotion of the network particularly if Purchasers of the digital asset expect An AP active participant to be Performing or overseeing tasks that are Necessary for the network or digital Asset to achieve or retain its intended Purpose or functionality well isn't the Upgrade to ethereum 2.0 exactly the type Of thing that would raise the sec's Alarm system you know get the old Death Star fully functional ready to destroy Deaf Like the SEC might see a promotion and Improvement of the network by a Semi-centralized entity with the rollout Of 2.0 and now you have the proper to The stickers added to the equation with That being said ethereum 2.0 injects a Lot of attention and danger and it gets A legal briefs danger rating of so 6 out
Of ten just ignore that 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 But unfort look and and I wanna look I Want to make sure everybody's clear I've Always wanted a Level Playing Field I Don't think the SEC or the New York Attorney general or anybody else should Be going after any of these things I Think they should have all created a Friend they should have created a Framework a long time ago and at least Had a moratorium on and said look we're Going to let all this Thrive or Something they should have done Something they should have all gotten in A room and figured this out but instead They're just they decided to do the Regulation by enforcement thing which Does nothing but Tamp down innovation in This country and they all ought to be Ashamed of themselves but unfortunately They're all a bunch of arrogant sobs and I know they don't have any shame in Their body Thank you