SEC Gary Gensler Wants To Kill BITCOIN & CRYPTO with Short ETF - FED To End QT & Start QE [Crypto News] - Transcripts

June 21, 2022

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Eight months after establishing the first U.S. bitcoin futures ETF, ProShares plans to launch the first short bitcoin-linked ETF. St. Louis Fed President James Bullard said they don't have far to go on Quantitative tightening. Sponsor 🌟 Linqto -...


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Big statements from one of the Fed members stating that they may not need to do as much quantitative tightening as expected, which means quantitative easing will be coming back soon. I want to break down the timeline. Also the S. E. C. And Gary cancer have approved a Bitcoin short E. T. F. Want to guess which way they want to see the market to go remember they haven't approved a Bitcoin spotty TF. Also huge news around a new N. F. T.

Platform and a new crypto company that has brought on some X coin based members. Well, let's break it down. Mhm. Welcome back to the thinking, crypto podcast, your home for Cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform please give me a five star rating. Quick word from our sponsor And that is linked to which makes private equity investment easy linked to. Is democratizing the process to be able to get equity and shares in crypto companies and tech companies before you have to be part of a venture capital firm or a large hedge fund or investment firm. Now if you're an accredited investor you can take part and double dip just like the big institutional players. Here's what they're doing, they're buying the tokens like many of you are but they're also investing in the companies building the infrastructure of the market that includes exchanges, payment platforms, wallets, you name it and some of the companies that linked to has in their portfolio are ripple bit paid, dapper labs, uphold Abra and much more and they continue to add more crypto companies and tech companies to their portfolio. So it's a great opportunity to make money on both sides of the aisle here. And once again this is how the institutional players are doing it and they have the opportunity to make money with many of these companies before the I.

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Now let's look at the market here. Not much to report Bitcoin still over $20,000 a theory and back over 1100 bucks. Seeing some green from a 24 hour perspective right now. Nothing to write home about my friends. It is just let's wait and see what happens. Is this the bottom has Bitcoin founded are removing back up. Well I'm not calling it either way guys because I think we need to let these things play out and prove themselves. We need to see some consistency right? You need to see at least a few weeks of moving upwards. But um you know as I stayed in yesterday's video I don't think the bottom is in you know we may see a relief rally, we may see a bounce upwards and and then further crash down. So just be prepared for all these scenarios, we are in a bear market there is selling pressure, there's macroeconomic factors with the Fed inflation also crypto liquidity and and uh you know lick liquidation problems that may happen in the market. We may see Celsius get liquidated, we may see some other stable coin collapse.

I don't know, I'm not saying I want that to happen or that is going to happen. I'm just saying there's a probability of it happening and you got to be prepared mentally for all of those scenarios guys, when it comes to investing, you just don't want to hear the bullish scenario, you want to hear the bearish as well and I'm bullish macro levels. I don't care what the hell happens in the next 3 to 4 months. I'm buying the dips where I can, I'm being smart, I'm only putting money in that I can afford to lose. I'm not putting a million bucks, I don't have a million bucks to invest to be transparent. I'm putting in where I can extra money right? So that's how I look at it, my savings, my four oh one K. My other investments are not involved in this. So just heads up. I'm also buying some stocks. I I picked up the dip this morning bought some twitter stock actually I felt that you know it's down um I know the Elon thing is still happening and also you know comments where Ellen made about uh you know looking to integrate more crypto payments and so forth. I felt that's a bullish move and I think that's the future and while it may take, I don't know, a year or two years for me to get a nice return on my twitter stock, I'm really willing to wait right.

Regardless. We've seen that um, you know, markets move in cycles and things will go back up and, and higher highs will come, but you got to be prepared sometimes hold for years and that's how I'm looking at it. And certainly I swing trade a bit, you know, when the thing, when mark, when the markets start moving up and I'll let you guys know what I'm doing that, but I'm a long term holder and that's what has made me money historically. You know, going back to 2016 when I first entered the market and going through the Full run of 2017 and then the bear market of 2018, and then I had to wait till 2020 into 2021 to make some money. So I hope you guys understand that and that gives you some perspective, but you don't listen to the headlines. Kryptos going to zero Kryptos dead. That is nonsense. We've seen the market cycles play out. Don't listen to the sensationalized headlines or some of these people on CNBC fast money or whatever it is. Just study the charts and you'll see it's all market cycles bull and bear playing out now. A big part of what's been driving all markets down and sending them into a bear market is the Fed and raising interest rates and the macroeconomic factors of recession inflation and so forth. I don't think I need to explain that you guys know what's been going on.

Well today the president of the ST louis Federal Reserve James Bullard made some interesting statements. He said we don't have as far to go on Q. T. As it might seem for those of you who don't know what Q. T. Is that is quantitative tightening. So obviously that's the Fed reducing their balance sheet and not printing and so forth. Right? Um So we know they've been doing this to help slow down inflation and obviously raising rates and so forth. Well the fact that he's saying this that they may not have much more to go on here makes sense because the markets are hurting right now right? And real estate stocks crypto obviously so there's a lot of pain right now and I've said it many times over the past six months, the midterm elections are this year and there's a democrat as a president. So as you can imagine and don't get me wrong republicans do this to uh biden's gonna want to turn things around economically because the democrats are gonna get destroyed and I'm not here to say which one should win or whatever, I'm just stating the facts.

Um So you could see them reverse I think sometime this year and then we start to slowly move back up right? So the Feds gonna stop Q. T. They're going to halt raising rates and then they're going to start printing again and we'll see asset prices go up. So this is a good sign. That does not mean there's not pain coming up in the next 3 to 4 months. They like I said the market could keep going down, it could get very bloody very scary. Um But as always market cycles, markets go up, markets go down, they find their bottom and then they go back up again, then they hit the top tale. As old as time. My friends go to every chart and zoom out and you'll see it unless there's some bankruptcy or catastrophic event that stops a specific stock or crypto like terra luna right from recovery. Obviously those are outliers, right? We don't include that.

But generally I would say 90% of the time crypto stocks and so forth market cycles. And I mean you know obviously I show you guys the Bitcoin charts where We follow Bitcoin because it's the measuring stick for the entire crypto market and here's some perspective 11 years ago today. Bitcoin was at 0.1 cent or less than a cent. Right? I don't know what's uh no. Yes my goodness my brain's not working today by the way. So it's just perspective guys and being having a macro view now what's interesting here's a chart from the folks at glass note showing the Bitcoin miners net position change, they were selling like crazy. And now they have started they have stopped selling and accumulation has restarted. So that's a good sign. Um you know, all of these things, you want to look at them together holistically to see if we've kind of found the bottom, but once again they could easily flip the selling again. So just, you know, just something to think about guys and we're gonna, we want to watch all of these metrics and, and make sure that we are paying attention to all aspects and avenues of the market. Now, here's a great chart from dr Jeff ross and he said, he stated the greatest chart in all of finance, noticed the green arrows.

So the green arrows are essentially calling the bottoms here and then a move upwards. Will it play out the same way this time? We will have to wait and see. There are no guarantees right? Certainly we can look at the data here and say, you know what, this makes sense. And let's cross our fingers and hope there's a high probability of this playing out again, but there's no guarantee. But let's say, um, you know, there is a 80% probability then, yeah maybe we found our bottom. maybe there's a couple more months of uh, you know, pain, this is a monthly chart by the way, there's maybe two more months into july and august of pain and then september maybe that's when the Fed starts reversing midterm elections are coming up and then we start slowly moving upwards into green candle. What's interesting though, you know, in 2019 we saw a bounce upward right and then Bitcoin went back down and um that was a nice, you know, little rally there. I wouldn't mind that even if we're not going to new all time highs yet, but a nice rally upwards, take some profits, you know, let it go down by the dip and then run up back into a larger bowl bowl cycle. But of course I'm not expecting another massive bull run like we saw last year for another maybe two years guys. So just you know, we see these, you know, little rallies here on on the macro bull trend upwards then we can certainly be prepared to take some profits there.

So definitely something to think about. So this is not a model, this is just the data guys. So this is very, very interesting. Now let's jump into some news. The U. K. Government has dropped plans for data collection rules on self custody. Bitcoin wallets, That's some good news. Um You know the U. K. And the folks in europe have been a bit more progressive and a bit more open minded when it comes to Bitcoin and crypto regulations versus the United States and here's a problem that we have Gary johnson, the sec we know there's a lot of things hanging in the balance with them obviously a Bitcoin spotty TF and remember Bitcoin spotty T F gets approved. What happens next in the third spot E.

T. F gets approved and so on and so forth. Right more all coins. Well, Gary Gensler has failed to approve a Bitcoin spotty T. F. And he, if he had approved it last year by the way in the bull run we would have seen some massive price run up guys, possibly Bitcoin going to over 100 and $50,000. But of course that didn't happen. We'll look at what he's approving here. Pro shares will launch the first US short Bitcoin linked E. T. F. On the new york stock exchange tomorrow.

Oh yeah, you know, we don't have a problem with the futures in the shorts because we know that could be used to drive the price down, right to punish the the asset class and we know as I've been saying for so long he is protecting the incumbents which are getting disrupted. That is Jpmorgan Goldman Sachs and the other banks, he is supporting the banking cartel. So you know, I will Clement had a great comment and thought on this that I really like he said. So there's now a short Bitcoin E. T. F. The future is E. T. F. A closed end fund trading at a 30% plus discount a +401k option for Bitcoin but no spotty T. F. It is clear that Gary Gensler and the S.

E. C. Have an agenda against Bitcoin, not just Bitcoin, the entire crypto market guys. Um So I'm glad some of these Bitcoin guys are starting to recognize what's happening and remember July six that is a big day, right many. I don't know if you guys remember quick pop quiz, what happens then? What's a big move with around the Bitcoin spot? E. G. F. It is gray scale. So that is when the decision is due. And remember grayscale bought on some big timers guys on their legal team ready to sue the sec.

Let's see what happens there, my friends, it's going to be very interesting and uh you know I think if Gary johnson the sec don't approve the Bitcoin spotty T. F. Uh it will not just be grayscale, they'll be suing them. There'll be a lot of other companies and many of them are not, you know crypto specific companies. They are legacy traditional finance companies like your uh the folks at Vanik and and many others who are trying to get a Bitcoin into have approved. So the answer is going to have problems, let's see what they do guys, you know could and I'm saying could potentially could potentially that happened. He the Bitcoin spotty T. F gets approved and maybe I don't know the Fed reverses sometime soon and then we start seeing a move upward. I don't know, I'm just throwing it out there right now it doesn't seem that way right now. Uh even if the Bitcoin spot, it gets approved. we have so much downward pressure and um you know, all these different catalysts that are driving the markets down that I don't know if that's going to be able to, you know, we'll be able to benefit the price is going to be able to benefit for that. So we'll have to wait and see.

But it just shows you what dancers thinking, right? He he knows what he's doing guys. This, this is all part of his plan until congress acts and you know, gets get some clarity and regulations passed. We're going to have to deal with this nonsense Goldman Gary cancer Now. Nevertheless, the regardless of what's happening with the sec cancer and the price folks are still raising capital and still building the building is, where is what happens in bear markets. Right? So X. Sushi C. T. O raises $8 million for N. F. T.

Lending platform Astoria. The platform led by Ceo Justin Bram and defy vet, joseph Delong aims to provide instant liquidity for your pegs and should be available to the public by september. So we're gonna see a lot more technology being built around an FTS metaverse web three and so forth. Remember these are all branches off of the crypto tree. Right guys, because these N. F. T. S are on block chains and many of the block chains that you guys have tokens for right whether the theory, um card, oh no. Uh and and many others. So this is great. The round was led by true ventures, Arrington Capital as Michael Arrington. I recently interviewed him, ethereal ventures, Winter mute genesis trading ledger prime hyper sphere ventures so on and so forth.

So remember put your business thinking cap on here. Look at the valuations of Cryptocurrency tokens and digital assets and N. F. T. S. They're down right, we're not in a bull market with these companies are putting placing capital millions of dollars right, what one would think, oh no, you think they're scared? It's going to zero that it's it's done, it's dead. This is the institutional money that they don't listen to headlines guys, they're looking at data trends analytics and so forth. And that's how they've beaten our retail for years. And that's what I tried to communicate with you guys because you've seen who I've interviewed. I've interviewed many of these institutional investors, they don't care about the price. They know now is actually a great buying opportunity when there's blood on the streets, be greedy when others are fearful and fearful when others are greedy.

So you gotta remember these investment principles and leave your emotions at the door. I'm not saying it's an easy thing. It's hard, it took me years to be able to build up that mindset and and to not think about my feelings or emotions, but look at the data and that's what I'm trying to share with you guys here finally here crypto Platform. Matrix Sport hires big name coin based execs to build us business Block works exclusive, Anthony DeMartino, former head of risk strategies at coin base has joined Matrix Sport, the company confirmed today. So you know, while some companies are firing because they, you know, shot over their skis a bit uh you know like crypto dot com. Block fi all these guys coin based of course, you know, the the talent still out in, the need for talent is still out there and they're going to other companies. And look, it's not like these folks are these companies, crypto companies are laying off 50% of their staff, usually it's like 5 10% or so forth and I'm not trying to diminish that, you know, it sucks, people are losing their job, that shouldn't happen. But um, you know, these guys are going to other companies or they're launching their own thing and building great companies. So Anthony DeMartino, a Wall Street veteran has me, was mostly recently head of risk strategies, institutional decentralized finance and derivatives trading at coin base. The lengthy title one source who was done, Who has done business with the exchange. That indicates the Martinez departure deals. A big blow.

Matrix Matrix Sport Representatives confirmed the hire a coin based spokesperson did not respond to multiple requests for comment, DeMartino declined to comment. Cynthia wu Matrix Matrix ports, chief operating Officer told Block works that the company executives are convinced the Martino's experience, passion and style fits Matrix well very well. So these folks continue to expand regardless of what is happening. And uh, coin just looks like they lost some money big here. But that's how competitive the crypto industry is getting now. There's a competition for talent because we're still very early. And you know, think back to the 2000 dot com bubble pop, right? Because it wasn't a bubble. Did that mean that the technology was dead or the internet was dead or crypto? No. Internet companies were dead. Of course not.

Google amazon ebay great companies came out of that. Yes, your pets dot com died of course. Right. And a lot of others that were just selling stupid ads, they had no business model, right? But that's how you gotta look at it guys, that is what's happening here and, and, and everybody's trying to still grab the talent, get more capital of course, and keep building and there's gonna be a lot of building in this bear market. So, um, I hope you have the perspective of markets, movement cycles, leave your emotions at the door, don't invest what you can't afford to lose and have a macro long term view. And you will make money. That's, that's how you gotta look at it. And you know, I know Warren Buffett and charlie munger don't like crypto because it's disrupting them and they were late to tech, but you know, listen to some things Warren Buffett has said about investing and just even if you're looking at stocks right? And and the long term view that he's talked about, and even when he calls people out that when price starts crashing, they start panicking and sell, right? So it's not wrong to sell if you see the price going down because maybe you you're still going to make a profit, that's fine. But if you're panic selling because you're scared or because you see the market going and that's the wrong way to look at it, right?

Even if like something like I didn't take as much profit as I wanted to last year, I didn't just start dumping like, oh no, I'm gonna dump on my crypto, I'm just leaving it. Okay, no problem. I took some profit. I'm okay. Um I don't have an emergency where I need the money, so just let it sit there and I had it in some lending platforms earning interest, but I pulled it off because of what's been going on with uh Celsius and some of these other guys. So you know, once things start to calm down a bit, I'll probably probably put it back into like block fi and so forth and start earning interest again, but once again I'm just sharing what I'm doing is not financial or investment advice, but I'm just trying to share these investment principles, they're so important and I think uh tv or I should say finance news on tv has really have, has had people to looking at markets from an emotional standpoint, people don't do their research and understand the market cycles and they just move because of Jim Cramer and it's like you're gonna get wrecked by listening to Jim Cramer do your own research. Anyway guys, that's the news, let me know what you think. Leave your thoughts and comments below, hit the films of button and I'll talk to you all later

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