Bill Gates hATeS NFTs & Nexo the Next Celsius | TGOC - Transcripts

June 15, 2022

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The Gentlemen of Crypto EP - 968   ********************************** Connect with us online at the following places: KRBE Digital Assets Group 🌐 • Website: • TGoC YouTube: • Masterclass: SOCIAL 🗣 • KRBE Twitter: • KRBE...

Transcript

I'm king blessed

and I'm Bitcoin's a and we're here to bridge the gap between Cryptocurrency and the community with the K. R. B. E. Digital assets Masterclass.

That's right. Your one stop shop for all things. Bitcoin and Cryptocurrency. We teach you everything, talked about them from buying, selling, swapping all the way to different exchanges, Managing your portfolio, yield farming 3000 plus percent A. P. Y. Yes we have that in there and collateralized loans top to bottom 12 hours 14 modules

so make sure to enroll today to be ready for the next bull cycle and

we are live good morning Crypto warriors and welcome back to the gym in the crypto episode 968. Today is Wednesday june 15 2022 I'm king

And I'm Bitcoin's a hit a bridge. The gap between Cryptocurrency and community Monday through Friday at 10 ISH.

Today's top stories. Suzu scripted statement as rumors throw of three A. C. Liquidations in insolvency. Next price drops 40% in three days on Contagion fears from insolvent crypto fund bill gates slams crypto and empties as the latest route sees Bitcoin testing the $21,000 level and sees crypto safe with U. S. Marshal service. Not so much says a new audit but first and foremost was going on with those prices.

Oh yeah so looking at our prices today took a huge dump in the market as everybody can see a whole lot of fear in the market. Bitcoin right now is sitting at $21,596 down 3.5% after it dropped almost below 20,000 ethereum in $1841 is down 6% Finance coin at 2:16 is down 3.2%. Garden. Oh at 48 cent is down 4.6% X. R. P. At 31 cent is down 310.7%. Salon. A sitting at $29 down 1.5%. And last but not least. Doge coin at five cent is down 2.9%. And our biggest game is for today luna dog token man.

If it's trash just combine it with something else. Up 911% lending block up 910% and handy up 320%. So a lot of blood in the market is a lot of fear. We've said this before that the market's definitely gonna go a little bit lower and again if we go below 20 K. This would be a great time to clear out the trash. So I

am reiterating I said 17 K. When we're still sitting at 30 something. All right when we drop the 30 actually I was like 17 is the magic number. I'm still thinking it's gonna be a 17 flash crash on some exchange or something. Somewhere really quick. What's going on 64 E. C. G. Good morning and happy birthday to chemo and crypto is their 40th birthday. Happy birthday to you. 11 super Mario notes from ju uh Michael Jr Miss Kay 64 E. C.

G. Last square Blockchain. Bully, Satoshi. Slim. Good morning. Good morning. Good morning. Welcome to the show. Everyone. Top story today is go ahead and jump straight into it. That is right. Suze Suze cryptic statement as rumors swirl of three A.

C. Liquidations and insolvency. I mean it's one of those things that we talk about quite often here actually too often and that's that's right. Uh Someone else looks like they may be biting the or on the brink of biting the dirt. We are in the process of communicating with relevant parties and fully committed to working this out. Suzu stated what is going on with Suzu? I feel like I should be reading about this guy's quotations in the book with this person's name. But what's going on with Suzu?

Oh yeah so Suzu and Kyle who are two of the people who started this project um They are considered quote unquote legends in the game. They've been around for years I think over a decade now. However there are a few things to look at here um chatter has started about three A. C. Being unable to meet a margin call after they moved around assets to top up funds on defi platforms like I've to avoid potential liquidations and the tanking price of um these are unconfirmed reports that three A. C face liquidations uh D five banking platforms. Celsius has also been doing the same thing to avoid liquidations and three arrows capital. If you don't know is a major borrower. So a collapse of either or both would have significant implications for the entire space. Or I should say the entire crypto space. Uh this twitter or this tweet from zoo. He broke his silence after three days of inaction.

We are in the process of communicating with relevant parties and fully committed to working this out. Which is sort of a cryptic message to send if everything is okay, doesn't look like funds to say food because this next week moon Overlord three A. C. In trouble, rumors swirling. They haven't tweeted anything Colin Zoo Zoo took every coin and number tag out of his bio. He also deleted his instagram and an hour ago they dumped 30 case death. Yeah and reduce all positions. I don't know how much more proof you need at that

point. It's want to say like this is what kills me about this entire space. And I mean hand clap keep that same energy consistent for everyone. I wish I would say this space pretty much does which I think is a plus and minus. And that's the benefit of the doubt. Again we talked about this yesterday. This space is governed by code by numbers, numerical things not by human feelings and emotions. I think we need to stay on that track. Uh And the reason why is because people see trying or not trying to tear up tara. It's like instrument, it's like bro like you don't even need to be a technical expert. You don't need to be coding like two plus two. He goes four guys.

This doesn't make sense. Big connect one plus one it goes to. But still in the face of like literal evidence. People are like no in fact forget the face of literal literal evidence. There's people who lost money on big connecting terror who are still like well it wasn't a scam. It just the algo didn't do. It was like

wow you

all are really that wide. I like huh? I have to be honest this is what makes me not want to help people. It makes me want to take advantage of people like politicians and regulators do because it's like see they're almost almost like politics regular. Like see they're not smart enough to do this thing on their own. Like you have to do this for them and while you're doing it, take some money for yourself because literally people are still like in this suite, are they in trouble? Is the rumor swirling. It's like you can check the liquidation can't you? They owe some money, don't they? Well I think yeah I think the answer is that yes. The push I I give it to him. The pushback is still so strong and the evidence is literally right in front of you in this space, it's crazy.

Uh But yeah, I mean like come on, you take every coin and number tag out of your bio out the blue and then delete your instagram. Nothing's nothing's going awry over everything. It's one thing if you're like a celebrity, you know, entertainer or athlete and the noises get into your head and mental health, I can't take it, I get it. But if you own a capital management firm, if you have a wealth management firm, come on these folks, these are professionals. They don't just disappear overnight. So um there's something wrong here.

You know the old saying, no, it's easier to fool someone than to convince them they've been fooled

that

hurts your pride losing money. Not as much so yeah, it is what it is. That's, that's what we're looking at right here because this is pretty obvious what's happening and that they just keep falling down like we said versus Dequan. Now Celsius now it looks like three arrows Capital, who will be next? What does that mean with the with the death of or death coming to each door, That's literally what's happening right

now. One of those. Okay, I got you. Yeah, we'll also what's crazy about this. I want to point out, you know, again, people, this is the thing of a bear market, everybody's gonna get altered it and I don't want to give them to, you know, here's the thing, I don't wanna pump, you know uh what's the, what's the word like I don't want to get their horse or kind of like way down them too much because I do wanna give three a c a hand clap because it does take brass Cajon A's uh to be this early in space and a half capital and say yes, we will be the ones to provide liquidity to these platforms and play these games. Trust me folks, I was literally just talking to the institution about a week or two ago and I was telling them to do the same thing which by the way if you're listening you should do the same thing right now. Now is the time if your institution to jump in and provide liquidity when the price is 21 K. Worst case scenario goes down to 15 13 like you're still solid right now at 21 K of your institution. So I'll say that. But yeah, I mean we can't, we can't like laugh and be so like go hard on them because at least they are providing liquidity to these protocols and defy space we're trying to use like these are the people making these markets happen on the back end. So hand clap that. But I mean over leveraged.

Like this is also on the flip side was like you this is why it's important and here's the thing, it's almost like it's fire insurance, having someone good on your team for crypto currency. It's going to turn into fire insurance is gonna be the same as having a cybersecurity professional as having a compliance officer is one of those, both of those things are like, do I really want to spend 100 and 2800 and $30,000 on a good cybersecurity expert, If you don't want to get hacked? Yes. Do I really want to spend all this $90,000 on the compliance person or a compliance department If you don't want the sec and government to come down on you? Yes. It's going to be the same thing. Do I really want to spend $150-$200,000 on one Bitcoin or crypto expert for my institution? Yes. Yes. It is going to be expensive. And this is why it's expensive because if you don't spend the money, you'll over leverage yourself. And next thing, you know, you'll have $300 million dollars into a defi protocol, uh, when the market is in the middle of the next happening cycle, worse time to do it folks again, You can do it on your own and go and solve it and go bankrupt or you can pay the $200,000 for crypto expert.

You're gonna have to pay somebody folks and

uh, just really

proves it,

Hey man, the way these, these protocols are dumping, I need a million you got because it's not only me, you need a team man. You got a,

I told I told him about 100 and 50 about three or four weeks ago. And they're like, I wanna say they but it was just like like it has to really, I'm like all right, like yes, I'll write you up a plan for a million, and then like I can show you how you can save half a million. Like that's 1.5 right there for 100 and 50. Like what are you talking about? Yes, it is very expensive. So uh yeah, I mean three A C. Again they're a major borrower. It doesn't want and sucks to see this happening because they are providing liquidity. They're moving the markets. But on the flip side, like, I mean they're they're in a risky game. They're playing a risky game. This is a crypto venture capital fund.

Uh And just like everyone else, they have their picks. It will be interesting to see, you know, it'll be interesting where they be at. Their pick was Bitcoin right there. Pick the majority of the profile was Bitcoin. It'll be interesting to see versus how it is on these platforms because um and here's the thing I was gonna ask you about, they're talking about potential liquidation and stuff. I'm assuming they're health indicators just sliding, right? Well they're probably going to the orange and red and they're painting back trying to get the green. Is that what's happening right now.

No, man. Well, it seems like that's what they're trying to do but good luck with that because the entire market is basically scared right now. Uh And of course when you're trying to make sure you don't get liquidated, yeah you gotta pull out those funds and that's when everybody can see the movement of money. So they're trying to keep it green or trying to push it back. But is

that is that essentially what's happening? They're just trying to keep pumping money into it to keep the liquidation level at it? Okay. Yeah that's that's a

people that's

a dangerous game to

play. We talk about millions of,

I was gonna say that it's one thing if you're a retail trade, so we have uh one of traders in discord, he's been taking a break right now, he did take a hit. Um But I can't think of his name right now. But anyway that was one of the things he, you know he said before he trades, he's like sometimes people are scared uh to keep putting more money into a position so they won't get liquidated and he's like you know it's good if you have this short to mid term trade where you know you know you kind of have a good idea that this bounce back is going to happen. But yeah when this is spiral, people, when a huge project goes out of business, we're looking at you terra um And then other projects associated with it starting to go out of business or have issues like an avalanche, they start selling off and you're talking talking about stable coins at the same time. Uh and then you're talking about Celsius now all of a sudden and we just got off the actual infinity Ronan hacking their club. Like when all that's happening, like you just lost, it's time to close that position. Like it's not time to add liquid, you know, add money at capital. But I would like to say maybe we're wrong. I don't think so. We're on this one because like you said, on an institutional level that means you're adding 15 - 20 - 30 million back per position. If you're a retail level, you might be adding $10, $30,000 back to it. Well, an institutional level people, you're adding millions back to it and that can go wrong, We're seeing it go wrong right now.

It's crazy on the heels of that Susan's story, actually we're gonna talk about next. So, so next, I was just in the news the other day, we talked about them, of course, you know, next. So in an effort for some free publicity, they was like, hey, y'all got a business will buy y'all. And of course I had to eloquently so point out like in the master class next to your website was even working like, y'all gonna have the same issues and it looks like they're having the same issues next price drops 40% in three days on contagion fears from insolvent crypto fund. That crypto fund being none other than the one we just covered three A C. You see how they're all linked together. Uh people, it's kind of crazy actually when you look at and that's the thing really quick for this story is like everyone claims they have the next big crypto project, but everything's being built on the last crypto

project they stand on top of sand. Don't make you a castle bro. You

know what I mean? Next Oh says it currently has no exposure to three capitals, three arab capitals and has 100% liquidity to meet its debt obligations. Uh, it looks like the price of Next will continue to fall on june 15th as crypto lending firms continue to be shaken by the following Cryptocurrency market. Meanwhile next door has denied rumors of exposure to three arrows capital as a Dubai based crypto fund facing insolvency. It's funny how this article said to buy fit base, but the last article said Singapore based. So somewhere overseas that coin telegram hasn't agreed on his base.

But

um, what's interesting though is this kind of shows the weakness of this sector in the market to see Celsius go the way it's going right now the next will start to follow block fire of course already coming under attack from the sec. It's just like this whole section is taking the l over here, but next so which serves as a security token at a Cryptocurrency lending platform, other same name fell 25% to 61 cents a unit as lowest price Reading since January 2021. Uh And again this stuff kind of catching me off guard because it's like, I mean, what did you think was gonna happen like this? It can only last for so long now to be fair. I think as soon as the market recovers, Celsius next on block by and so on and so forth, we will recover. They'll be fine all the way up until the sec and government kind of taps your shoulder. I think they'll be fine. But it is interesting to see how the, the confidence levels of these projects literally disappears overnight when it's like, it should have never been there to begin with. But um again, it looks like trader spirit that the most decentralized finance since last centralized finance firms which offer high yields to clients on their crypto deposits will default on their debts due to wipe out nearly $1.5 trillion from the crypto market. Of course, we've talked about Celsius and now we're looking at next. So it looks like three A. C.

The crypto, we just covered witnessed liquidations of at least $400 million. May also have a minimum debt of 100 and $83 million against the collateral position of $235 million of steak ethereum. Uh and people are saying that hey somehow some way neck so is tied into all of this even though they're saying this is not true, it has, it has no exposure to three A. C. Despite partnering with the fund over a non fungible token lending product in december 2021. The firm research that the partnership with three A. C. Did not take off. Here's the tweet over two years ago we declined three A. C. S request for Unsecured Credit. We learned that they acquired it elsewhere.

It is now obvious that nexus approach was correct. This is why our assets and see our liabilities now they need to stop

this. So

here's the thing I'm gonna say about that. No forget all that shots fired. They need to stop because in a moment like this where the market like who knows who's gonna get hit next. Right they're all connected some way many of them. I won't say all but for the market to be getting hit in every direction. Some of the projects we just mentioned like now is not the time for a victory lap now is the time to make sure you make it out of this thing alive. Um This to me is like this is very risky. Like I get it. They're like, hey they're still like and that's why we're the number one place for you to do your lending. All right okay like

yeah

For now like this can look ugly in 48 hours. So it's crazy to see that they are literally dropping in price, but they're coming out standing strong. Here it is. Again, another tweeting All Next has ever done with three arrows capital to sign a partnership with the N. A. T. Fund but it did not take off and we currently have $0 of business and exposure with them. Out of curiosity. I'm wondering how did you sign a partnership and it not take off?

This is crypto this is more proof that partnerships don't mean ship until they mean ship.

Exactly. And I just wanted to eloquently point that out because you're literally bragging about a signed contract and nothing happened from two major players. Can I get a follow up tweet? Like

that's like that's like the announcement of the announcement. They basically did a deal for the next deal. Like what is that?

I asked her, I asked her to marry me bro. I gave her a ring but we can't get married but we're not even dating no more what

happened? Don't

matter. We're not dating. No

matter. That's

super random. But okay. Um again next was saying they have 100% liquidity to meet. Uh it's $4.96 billion five this is a small country, $5 billion dollars worth of debt obligations. They must be staking on some platforms for sure. But what's going on? I mean what are your thoughts when it comes to next? So um and their strong stance on this here.

Oh yeah, I think you're right. And then basically not pulling in Moshinsky and flying too close to the sun. You don't wanna be Icarus. Uh and think that you're getting too high on yourself because a month ago Moshinsky was talking about how Bitcoin is have kept it off of exchanges and they got 100 and 50,000 Bitcoin and liquidity and all of this. And then here we are. So next. So even though they're not affected by three A. C. Doesn't mean that they don't have over leveraged positions on other projects or with other crypto funds. So again, I wouldn't be bright. I wouldn't be taking a victory lap right now. Probably keep it close to the chest.

But again, next dropping 40%. Whenever anything in the market goes bad, everything drops. So it doesn't even matter if Mexico has the best product, they're still gonna take a hit with the token right now. So it is what it is. You just gotta survive it as a project. So hopefully they survive this market because they can, this market can stay and solvent longer than you can uh longer. You can stay solvent.

Well it was even crazy too when it comes to next. So like people again like this is where the green is too crazy if block fi is being sued or being uh sought after by the sec. I gotta say this really slow. So it's two plus two is four. Is because this is incredible to me for people with brains, right? All right. So, we're looking at three major lending platforms that give you these high py is right? You got block fi, the government has gone after them. They've been the best so far, government wants their money. You have Celsius who clearly are going through something as they're moving loads of money and blocking withdrawals. Alright. So they're not safe, even if Mexico is doing everything right, and it's on the up and up and they work perfectly.

Why would you put your capital back on a lending platform where the sec has already publicly gone after one, and really they were gonna go after two but coin base buckled under the pressure. Uh and another platform is going through an insolvency crisis. Like why would you even get back into this sector? Like it's time to pull all capital from lending from these major lending platforms and stay on the sideline until this thing is figured out at the very least it is. I mean, I was just looking at the twitter and these people still like, Yeah, next. So thank you, we can trust you with our funds and capital, like you're still trusting a lending platform today After the last three days, like if anything happens, you deserve what happens because right now is the time to consolidate and sit your ass on the sideline unless you're real active player in this market, I'm talking 24/7 where you're about to say I'm not going to my regular job for the next three days or even better. This crypto thing has been my job. If you're not saying this is your job, I would highly consider consolidating uh, and getting off of some of these platforms right now. Like you definitely should be on this platform. It's kind of crazy that people are actually um, let's see, Santoshi said fear where they do that at? I smell discount. There we go.

Blockchain bully, what's going on, man, chappie, Hassan, Parabolic PJ christian El Nio. See, I think I said that right, What's going on? What's going on? Looking at some of these comments to see what you all think about uh, some of these platforms, Let's see rico's have been buying that Bitcoin dip all week. There we go. I'm actually about to get a little bit of Bitcoin today myself actually. Uh, of course today be on the lookout assets and arbitrage at eight a.m. Right after the show, Reggie Middleton at 10 AM PST with marlin. Uh, and of course jump out girls this afternoon at four PM PST as well. So be on the lookout for all those shows also. Um, this is crazy seeing this as well though, this is uh, this is crazy. Hey

trick trick. He mentioned block. If I was looking towards regulations. Actually spoke with black fives lawyer and she was very confident that they will come out. Okay. So yes, I do think they're going towards the regulation route to try and establish it. Pay that money and getting good with the regulators and you should be all good. You gotta get in with gang gang can't be on the outskirts trying to make it.

There we go. Said I'd like to fully move off of the bank life into the sex life. Would you be able to cover that in a 30 minute clip? We'll look into it. We actually have somebody mom who's actually gonna be working on some of the beginner's stuff. I got to reach out to her. But also as far as getting off of the bank life for the most part you can, but I will still say there are reasons and so like there are reasons and services, you still need a bank at the end of the day. I mean it is the majority of the system right now. So uh, and I say that because you know specifically debit and credit debit actually not credit in Los Angeles, they're not taking cash. People like I've been saying this since Covid Star, I don't think people realize how seriously people, I would say 30% of Los Angeles does not accept cash anymore. It's not happening. Like that's why you all keep saying, oh cash this and money and then the and I'm like I'm not telling you from an opinion point of view, I'm telling you from, I just went out to eat at a nice restaurant.

I took out a lot of money because I'm liquid and they were looking at me like I was crazy. That was like, no you got Apple Pay, you have debit or credit or do you have uh I think google pay works as well. No cash, no crypto

cash on the table and be like, hey this is legal tender and just walked out, call the police if you got a problem cash this one coffee shop, how to do that yesterday they didn't accept cash. I just left it there and was like this is legal tender and just walked out like you call the police what you're gonna say. He paid us in cash.

And one of the reasons why to go along with it is not only like the whole cashing is becoming obsolete because you're right a couple of times he caught me off guard. I was at a couple places like all I really brought was cash. Like they lucky I did have a card on me because I was like wait what? Like alright man whatever. I was like here take the car and then they was trying to tell me like soon we're gonna be taking Apple Pay and something else. I'm like you're gonna be taking like

what are you talking about? Like they're just putting themselves into the surveillance state like yeah we want to move it all the way as far as

they can't wait and I can't wait until the first thing that goes wrong. They try to pro why aren't you protesting on your what does your social media profile have X. Y. Z. On it? Because you're protesting and using the same money as the place you're protesting against uses

big

dummy. So honestly I would say this really quick to say that to me. That's probably one of the best viewpoints you've ever come up with period to me like the that was beautiful. The fact that you so like you pointed out the protest is like yo your funding your own oppression by you.

Like

I didn't even look at it from that viewpoint myself. So yeah. That's crazy. I never wanna hear anybody say anything negative about the U. S. Government using that dollar shut suck up. Uh Say you like bombing people and when you're a warmonger just like me smile and say guns guns, guns and you support all that sh it every time you use a dollar you support guns. Uh You support, you support, you said what

support the big, you support all type of stuff.

You support all type of stuff so just know using the dollar hey you're not for peace, you're for war to we're all we're all gained out together So stop trying to be all, oh, don't use for family around the kids use the US dollar. Right? And we blow up kids where I'm from, what you're talking about the United States. We blow kids up overseas. What's going on folks? I

want to say, I do want to say though, most people that don't accept cash, but I did. But pay with cash at the taco truck. That is one thing I will say. Shout out to the immigrants all through covid, all through any, it doesn't matter what

happens.

Asians, indians, Ethiopians. Mexicans doesn't matter. They ain't stopping. They take cash, they stay open. They got the same hours and their kids is definitely gonna work for. So shout out to y'all because I've actually been holding it down. Not these terrible ass corporate companies that's trying to stay in line with the law, Get all that.

It is jake fever said, anybody who played with leverage knows that when you try to push your liquidation price back, you always get liquidated facts. So here's the reason why we talked about this before. And I think the news even pointed out, I saw a story come out today again, uh, the government's going after insider traders and stuff and I were talking about it. But again, people, there aren't many rules and regulations in place. So even as a capital investment firm, I think there'll be a little bit more careful because the capital investment firm or wealth management firm has more resources to go after them. But even still if you're a wealth management firm or you're an institution, you're, if you're a big player with a lot of value on the exchange, you need to understand the exchange controls that. So even if you're three arrows capital or someone else or jpmorgan, whatever, if you choose to put that money on the exchange or leverage it on exchange, all the exchange has to do is say, oh my God, look at this guys, we have this institution with $300 million trying to go 50 X on leverage. We are about to wreck the ship out of them. Like why would you not just literally free money if your platform exchange with the institutional type of capital on it. It is literally a layup if they try to go long or short, which is why you see these market moves and these huge liquidations. So for sure I'm with that jake fever, we'll see what that happens at. Uh, why did Queen Death delete Snowden and Finality interview?

Don't even know about it. They

Oh yeah, they actually did that interview right before I went on that consensus, it was packed out. Like the whole thing was packed out, but apparently they got rid of the recording because of some stuff that was said privacy issues and whatnot. I don't know exactly. All I know is it was a huge, like that was the biggest crowd at consensus was Snowden interview and it was right before we went on. So right. And we were sandwiching between Snowden and Two Chainz. So wait

in person.

No, no, no, he wasn't in person, but his interview. Yeah, definitely have a picture with my boy. I

know you want to have a picture of the fans will have a picture with your

Exactly. That kind of a little bit shut down. But but it was good. It was a good, good interview. But I think some of the stuff he said they had to take out. That's what the interviewer was telling me in the back. He's like, we definitely got to take some of this stuff out. So I guess I just got rid of the whole thing until they edited.

Okay. Okay, let's see. Uh, I just saw some good comments. Goodness gracious. These comments have been. There we go. I love seeing that really quick. Um, let's see coupe de ville. What's going on? Local T. X. What's up?

Alpha Predator. Morning Morning Crazy BX Don uh, Wyatt try it. Let's see seeing some good comments or just passing what's going on. Real good to see Royal Black back in the show. We need to replay one of his old shows today. We'll make sure we get that out rule. Uh, yeah, somebody said you better pacific Oh beer Yes, I love pacific or beer. I never knew about it until I moved to southern California and it's been my favorite beer for almost a decade now. Is that what you got? There we

go sponsorship.

There it is. I definitely messed with pacific O beer. Uh Let's see.

I can't put me on. This is my, this is the only thing I remember first got here, I was getting Coronas. He was like man, this is garbage.

Specifically. It changed my life when I first had specifically I was like, oh my God, like say southern California living life out here boy. Uh let's see eric jones said cash is only legal tender only after a debt has been incurred and they have a sign saying no cash. They can legally do that technically true and false because if you eat or something that you incurred the debt though right.

What about to say if I walk into a restaurant and I incurred a debt, I'm paying cash. Do what you want. But again when people say legally and all that stuff, Hey the gray area is strong with me because when you talk about their legal stuff, they still have a process to go through. They gotta call the cops, they got to make a complaint, they gotta go to court. You think they're gonna do all that for $20 in cash. No, they're gonna take the cash. They'll figure it out later and just keep walking when you walk.

I see a few people still talking about block fire. All right pushing us on Bill Gates slams N. F. T. S. Uh as the latest route sees Bitcoin testing $21,000 level. What's going on with Bill Gates? Why is he hanging again?

Oh yeah. Well Billy Gates is always hating on anything that he doesn't like. However this actual statement isn't necessarily not true. Uh He says it's 100% based on greater fool theory. Could make the argument that every market is based on that. But uh the reason why the N. F. T. Market uh as he said here is obviously expensive digital images of monkeys are going to improve the world immensely. We can all agree on that. The reason for that. That sarcasm is basically the same thing as we've been saying on this show.

Is that hey, it's speculation. Uh N. F. T. S. Give you access as well as you can have tickets. You can also have residuals off of it. It's a new technology people are trying to explore. But every single new technology has some goofy shit at the beginning. It's I don't see how people like Bill Gates don't realize that. Do you remember when computers first came out? And there's nothing you can basically do with them except read on their web.

One point. Oh yeah it was Minecraft and nothing else like you know what I mean? So there's always some goofy ship. It's always some dumb uh you know projects. Uh N. F. T. S. Have you know overwhelmingly the biggest number. However I think he's just using this based off of his own you know theories he has on the entire market as a whole. So even though what he's saying isn't necessarily not true it is disingenuous because he just dismissed the entire sector completely anyway so don't really want anything to do with Bill Gates.

Well definitely disingenuous and I'll say all the strength of this like he should have left this out because straight up to me you cannot be an american citizen period, you can't be an american citizen uh and start talking about what's going to improve the world immensely. People like I heard culture is about pumping and promoting ship that will not improve the world. Are you kidding me? People how does Hollywood as a whole improve the world? Entertainment makes you feel good. No no. Stop it, stop it. What's more important than Hollywood or bread and

water? Like come

on so I think that's our american culture is creating things that might not improve the world but make you money. Um So Bill Gates again, what are you talking about expensive, that's the key part makes you money right? You're a billionaire, you know a lot about money. Um And as far as improving road again we can go down a hole. Shit list of companies that Bill Gates is involved with or have some type of ancillary relationship with that do not improve the world or at the very least just literally turn on the tv. I can't believe that was a quote coming out of him. That this doesn't improve the world then we shouldn't take it serious.

Hey man, Bill Gates, Bill Gates invested in some islands that ain't improved the world. In fact it made the world worse.

This is crazy. How much is your computers and computer chips and stuff damage the environment Like come on improve the world like this is the whole thing. Everybody's trying to be all egalitarian and and and and protect you and they always do it when there's money involved. People you get that. It's never about improving the world and protecting you and none of that. When there's some broke boy ship going on. When there's nothing when there's a market with no money, they don't care about protecting protecting the investor, they don't care nothing about education. But when it's a money involved, oh man, this doesn't do anything for the world. What does this do to the world? This is hilarious.

All right.

Last but not least. That's something we kind of already knew ever since the ross Albrecht trial. When the Secret Service agents stole money and uh framed people and did a bunch of dirty ship but seeds crypto safe with U. S. Marshal service and not so much new audit reveals. That's right. Oh I. G. S. Office of Inspector General's audit disclosed the lack of documented policies and practices related to the management of siege, crypto assets especially related to the use of inventory spreadsheets. Once again I mean this is kind of one of the obvious things that crypto will be getting lost within the government's reach. People If every time our government confiscated Bitcoin and Cryptocurrency or whatever and they kept it they can literally leave us alone but because they're stealing it from themselves and read doing whatever with it, they don't know which direction is going in.

They can't keep up with it. That's why they keep coming back after the market because they're like yeah we know we just had 200 Bitcoin. We lost it. They they they they they are over the U. S. Marshals is like this. All right. It looks like the Office of Inspector General. O. I. G. For the United States Department of Justice conducted an extensive audit of the Cryptocurrency seized by the U.

S. Marshal Service. We're building the dire need for the federal agency to revamp its existing crypto management and policy systems. Oh I. G. S. Audit on the cnes cryptocurrencies found the U. S. M. S. Of course marshals implementing adequate safeguards over its storage and access. However the agency was.

Oh yeah you can't get it now, hold on you can't get it from them. They can store that mofo. But as far as the agency is being found to use spreadsheets. That's right. You some spreadsheets to track crypto to maintain track of the inventory owing to the inability of the existing system, consolidated asset tracking system, Cats for daily management of crypto assets. Again, as of june 2021 the U. S. M. S. Managed nearly 200 Department of Justice. Cryptocurrency, seizures. We looked at the U.

S. M. S. Management of sees Cryptocurrency and found that the U. S. M. S. Face challenges in managing and tracking Cryptocurrency. So I'm gonna say we're really happy here behind the scenes. Uh D. O. J.

Inspector General. Uh And the marshals, somebody said something smart to somebody over at the marshals to the doj Inspector General, Somebody picks somebody off. They said some slick ship or they didn't get back to the email in time. Something happened to where we're reading about this because if it wasn't that we would never read about this. People, this is still the government same fight, same team. They don't do things like this unless like I said, somebody dropped the ball, you didn't return my email. Oh you did lose it or I don't like so and so or or maybe at the very least everything is on the up and up. But somebody at the doj Inspector general is ready for that promotion. But there's something there for them to put them out on blast publicly like this. You're telling me the inspector general couldn't call up the U. S. M.

S. Uh the director and be like hey man the way y'all doing this is wrong, we need to switch it. Something happened there for this to come out public. A And then b wow you're talking about the marshals being called out publicly by the inspector general over there auditing procedures of Cryptocurrency. I mean it doesn't take a genius to see what happened. Money is being mismanaged or at the very worst stolen. What else is going on this story?

Oh man. So current us. I'm sorry uh Current C. A. C. L. What is that? C. U. S. M. S.

Sorry sees Cryptocurrency management policies are inadequate absent on some instances provide conflicting guidance related to asset storage, quantification, valuation and disposal. Uh Yeah so it has uh inadequate absent or in some instances provide conflicting guidance. Yeah basically they're lying um the Justice Department they laid down seven recommendations to help improve the management. Starting with implementing a proper management system that logs edit history to prevent fraudulent alteration of the inventory records. So basically they told them stop using spreadsheets grow up and get a real management system. So we can actually audit you because funds are just going out of the sky. And if you remember back in 2000 and 14 there were FBI agents who actually seized Bitcoin and then were found to take that million or so dollars in Bitcoin for themselves. So this isn't like people are taking it and this is the first time ever This is definitely something that happens at the highest levels. It's just when different organizations get involved. Like you said the politics between different organizations. You think you're gonna take crypto and you're gonna eat off of this and not us. No no sir.

We get some of that too. So that's basically what's happening here.

Yeah. So and all that kind of piggyback on that. I mean the U. S. Marshal shame on you all. Here's the thing. People when you're when you're around criminals, sometimes you start to uh you start to have that same type of behavior and unfortunately looks like the U. S. Marshals are. And this is why I say that I'm not stupid anybody who's ever been into any type of nefarious ship. Try to cover their tracks, see what's happening and this is what's happening, People. Yeah.

Oh no we do take uh you know we do take inventory, we have records and all this other stuff. We just write it or type it into a spreadsheet and oh do we make mistake here? Oh my. But we try to keep up with like come on think about this way people you do your taxes and you forget to add that one little oh you forgot about that one little $1,500 payment over there. But I did my taxes right? I did them. I did all the paper. Oh my bad. I don't know about that one. They're not fooling. Nobody. I know exactly what they're doing.

Kryptos coming up missing. They're taking shit. Oh, y'all got records. Oh yeah, we did a database depression. Well why didn't you do it? An official system that the rest of government used? Oh man, we just thought they're not fooling. Nobody. Say I know what they're doing right now. I got

it. I got it. We got it. We got

yeah, we understand how to steal without stealing. We get what's happening here. All good. Uh Again, y'all got the guns and the manpower just come out and say we took it. What? We can't do nothing either. If you were to come out today and say we took it or if you could come out and say the inspector general uh is mad at him. Either way go the money's gone. All right. Either way it go dan. It's got

they couldn't give us a billion dollar budget and then compress us about some Cryptocurrency inventory spreadsheet. What? Come on, man. All

right. All right, that's it. That's it. Other than that, that is the show for the day folks. As always, make sure you smash that like and share what you got for everyone. Bitcoin's a

um happy hump day halfway through june baby. Don't don't jump out the market just cause you see red, we got Smart Warriors. So I know we're all good. Everything's a discount right now.

There it is. There it is. Local. T exit Bill Gates is on the Epstein Epstein Island allegedly. That's why Melinda left them. Uh could be true. But yeah, other than that, make sure of course you check out the master class, be on the lookout. Subscribe to the free newsletter of course on our website at the very bottom, smash that I can share but we will see you all tomorrow. Some more news.

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