Welcome back to the show everybody it May be Saturday but we got something for You today and let me tell you something You guys have heard me talk about the U.S treasury and specifically fsoc a lot Over the last two plus years and let me Tell you something things just got a lot Bigger for digital assets and crypto Because now Janet Yellen is too somebody Wrote that beautiful intro Digital perspectives with Brad kimes Come on in Welcome back to the show everybody you Can follow us on Twitter and YouTube for Exclusive content right now 1.21 Trillion dollar market cap for crypto We're off by two and a half percent Bitcoin 27 300 plus ethereum 1857 now And change tether market cap is 81.5 Billion plus 45 cents right now for xrp What's going on we'll hear from Meg red Crypto before we get out of here today But we are off by 12.2 percent on the Seven day good morning everybody glint Baby check it out listen Golda security Glenn it's key glint was created to help Individuals take control of their assets Sound familiar control your wealth Control how your wealth is used look Click the link to my sponsor download The app try it for yourself if you do You're gonna find out what everybody Else already knows why haven't you been Doing it sooner that's what I'm telling
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You right now you believe it it's still True click the link look 1259 Bitcoin transferred from an unknown Wallet to coinbase now I think Mr Cool Guy Mr I said this best why do people Send things to exchanges Yeah I'm smelling a dump is what I'm Smelling head on a swivel ladies and Gentlemen that is like the second wallet That I'm aware of Of Bitcoin that has been activated and Been lying dormant for at least 10 years Makes you wonder makes you wonder This ought to make us Wonder too and It's going to be the reason why I Believe we're going to see even more Involvement Janet Yellen in the U.S Treasury around digital Assets in crypto Broadly and I'm going to let them tell She's going to tell you Brics Nations buying massive amount of Gold ahead of plan to Dethrone the US Dollar this is no longer a whispered Conversation as we all know right So this is the geopolitical angle things Are still happening greatly it's Important that we look outside of Digital assets and crypto alone to make Sure we understand that all the working And moving parts that are affecting this Digital asset Revolution that is Absolutely on its way in being ushered In And according to Nana here the brics
Block and the influence of Saudi Arabia As we've talked about possibly joining Which does look highly likely at this Point could end or will end the dollar As a reserve currency and this could Cause a flight to safety again this is a Conversation Here and Now Charles Netter Which is a financial analyst saying the Same thing the hedge money hedge money Of the US dollar is in question I believe that's where we get into the Mix of the geopolitical monetary system The Strain on the US dollar as the Global Reserve currency and how digital Assets and certainly a bridge currency I Believe Like xrp can play a role as a bridge in Complementing the system and helping to Relieve the spillover shocks but in Order for that to happen we're going to Have to see a little more from the U.S Government and I think we may be Starting to see glimmers of that now According to former Department state Official Anya Manuel who is a board Member of Ripple if the United States Isn't able to maintain its dominance in Financial Innovation and payments it Could affect its national security Policy specifically on sanctions This is Anya Manuel talking right here Ripple advisor board member come on what Crypto Skeptics U.S federal reserve Governor talks up potential of benefits
Of blockchain and tokenization oh do Tell let's take a look at this really Quick This right here is it's actually uh Christopher J Waller one of the seven Members of the federal Board of Governors here says in a new speech that Smart contracts and tokenization carry Inherent risk but also have considerable Promise in terms of their potential to Make financial sector more efficient the FED Governor notes that private sector Firms have executive foreign exchange Trades via the blockchain separately the Financial institutions have used Blockchain to facilitate intraday repo Transactions parties to these Transactions may have more flexibility As to when the transactions settle which In turn has the potential to create Additional capital and liquidity Efficiency this is what we've been Talking about for years and now we're Hearing a Fed Board of Governor talk About it too and blockchain's atomic Settlement functionality may serve as Another way to achieve and important Risk mitigate it says here using Repurchase agreements as an example the Repost seller which is the overnight Lending market for banks can have Confidence that it will receive the Specified loan amount in exchange for Collateral it conveys with the repo
Buyer knows it will receive this Specified collateral those efforts are Still in early stages but I expect that As functionality expands with more Currencies eligible Securities and new Products there will be more Participation and growth Hahaha I tell you Now listen to this part Waller argued in A separate speech in February the Digital assets are like baseball cards And have no intrinsic value to me a Crypto asset is nothing more than a Speculative asset like a baseball card If people believe otherwise we'll buy it From them in the future at a positive Price then it will trade at a positive Price today if not the price will go to Zero if people want to hold such an Asset then go for it I wouldn't do it But I don't collect baseball cards Either however if you buy crypto assets And the price goes to zero at some point Please don't be surprised and don't Expect taxpayers to socialize your Losses I think that's well said right There and that's why I personally like Xrp because I don't see it like a Baseball card at all because it actually Has commercial use we'll get there in Just a second Eleanor terrett shared this could Epsoc's new proposal possibly paved the
Way for classifying crypto companies Systemically important as a way of Regulating them This way it would allow the heads of the Agencies on fsoc which are in fact Gensler Benham Chopra and Yellen which Is the SEC the cftc the cfpb and the U.S Treasury to make decisions on them I Have been saying this impounding the Ground on this I have caught so much Hell over this let me tell you what do You say about it now Because now they're talking about it This is it right here let's take a look You're going to want this and you're Going to need the entire thing Unfortunately I do have to read it Because in every bit of it matters Top U.S Regulators on Friday proposed New rules to Speed the assessment of Financial stability risk and make it Easier to designate non-bank Institutions as systemically important Subjecting them to Federal Reserve Supervision Multi-regulator Financial stability Oversight Council released the proposals For public comment just over a month After two Regional bank failures sparked The biggest Financial system contagion Threat since 2008. so now we got the Reason for the bank runs Now we got the reason to get it done at Fsoc right we needed motive and now we
Got it U.S treasury secretary Janet Yellen has raised concerns about Non-bank financial institutions which Have really been crowned as the reason For these Bank runs but really it was The banks themselves but we get it they Need a motive including hedge funds Institutions and because of their lack Of supervision and potential for Systemic spillovers from firms in Distress revisions to guidance on Branding such firms as systemically Important reverse some of the aspects of The previous Trump era changes in 2019 That made such designations more Difficult Yellen said the new guidance Removed some inappropriate hurdles which By the way designated non-bank firms From the previous administration could Cause a process to take up to six years Well they're looking to get rid of that And once they do That you're going to see them come in in A sweeping way I bet That is unrealistic timeline that could Prevent the council from acting to Address an emerging risk to financial Stability before it's too late Yellen Said in her remarks to the fsoc meeting She chaired on Friday the new guidance Drops the 2019 requirements at fsoc Assesses the likelihood of firms Financial distress apply Activities-based approach and conduct a
Cost-benefit analysis prior to Designation which the National Credit Union Administration chair described as A Rube Goldberg like process These were replaced and uh these will be Replaced with quantitative qualitative Analysis Pro analysis process under Which the council determined whether Material financial distress at the Company or the company's activities or The company's activities could pose a Threat to U.S financial stability a Treasury official reported adding that It was not a complete return to 2012 Guidance however the revised designation Process also allows for ample engagement Between Regulators in a company under Review it says here Federal chairman Jerome Powell told the meeting who is Also a member of fsoc I believe that the Changes proposed by the council will Create a balanced approach to addressing Potential risk to U.S financial Stability and ensure that all the tools Available to fsoc will remain on equal Footing hedge funds mutual funds asset Managers trade groups responded by Saying that Regulators should look Elsewhere for threats to financial Stability we know the designation of a Registered fund or fund manager would be The wrong answer said Eric Pan the CEO Of Investment Company Institute and fsoc Should be avoided should avoid
Concluding that entity designation and The application of Bank Prudential Regulator tools is the right way to Carry out its mission to mitigate risk Arising from the asset management Oh I've got something for you after this Don't you go nowhere The Securities industry and financial Markets Association Asset Management Group said that because asset managers Are directed by their clients and hold Small balance sheets they should not be Designated however it goes on to say Speaking of the reversal is concerning Here Fsocx proposed new risk assessment Framework aims to enhance the council's Ability to address Financial stability Risk by reviewing a broad range of asset Classes you want to know what they are Yeah markets for debts loans short-term Funds equities digital assets Derivatives Counterparties payment and clearing Systems ringing a bell here The new framework also specifies Vulnerabilities that epsoc and members Regulators would consider when Evaluating potential stability risks These include leverage liquidity risk And maturity mismatches market Interconnections and concentrations Operation risk and management activities Ladies and gentlemen we've also talked
On this channel about the top down and About how hard it is David Schwartz has Talked about from the top down to have The largest banks of the world really Adopt this technology and that's why They started with Grassroots they also Started at top down and they felt like They aimed a little high that's why they Stepped down to the remittance world and Were able to really get things moving There around the world with the use of Ripple and xrp well Shout out to Mark Phillips he says now Haven't we heard that somewhere before Brad yes absolutely no doubt we've been Pounding the ground about it and let me Tell you something I want to remind you Right now that Ripple net has processed 30 billion dollars worth across 20 Million transactions since its launch Now Ripple net is not odl which settles With xrp but I tell you what Ripple has Said it and we covered it yesterday in a Report Ripple in fact is the only Digital asset company in commercial use Full stop Do you think that the incredible Innovation of that technology whether it Be Ripple software and the complement of Xrp could in fact be looked at as a Non-financial institution that could Eventually receive a systemically Important designation because of what it Is already doing for the world
Look at what agrag crypto says here Some see 37 cents some see 58 cents and Others see one thousand percent gains Ten thousand percent gains and a hundred Thousand percent gains He says I am from the third section I like that the hundred thousand gains Always seeing the positive side of xrp Below is a chart that is super bullish Formation I do not sell trade or keep Xrp on exchanges I just stack and forget He says Taking a look at this chart You see what's going on here with the Final wake-up line You see where we are with price where we Are now you know we've lost we looked at The price where we started the video Today You could go all the way down to this Support line here and hit 37 cents again Would it scare you Would you be out would you fill your Bags would you just hold on and wait Everybody's different and no one should Be the same Unless you decide that because this is Not Financial advice but I happen to Believe that Ripple will Make a dent in the universe I happen to Believe the technology and what they Have built is so important at the very Least it will need a systemically Important designation to be adopted from
The top down inside of the financial and Banking system but that's just me not Financial advice it's just my digital Perspectives I'll catch all of you on The next one
