Egg yolk what is going on. Viewers of the tube. If you didn’t mean to click on this channel don’t step away because you just entered the crypto channel that keep that weirder than this Brad. Expert on Conan O’Brien. All right let’s. We want the section to break vertically. Oh geez. You want to avoid lacerating its structure of the crumb. Yeah yeah. Here we go. That’s when in other words you just slice the bread. Slice the value would be like this. OK I guess you’re way better. But. Which we wanted we wanted. We want to feel the surging of a guy’s share of aromas of close I know. Demeanor. Come on come on. I’m a Catholic. Squeeze it. That’s good. That’s good bread. You know our hoagie. It’s time for Chico crib dough. What. Bitcoin and the crypto markets are taking off. Well it was very nice to wake up and see Green 20 to 30 percent gains for almost every going out there and then pulling out the BTC price chart for the past seven days. The price after getting obliterated in the flash crash was up down and all around after throughout last weekend hitting a low of 4.5 K. But since that Monday low it has pushed up and pushed up hard. So I’m sure most of you are happy as an increasing price is usually a good thing for an investor. But there are those stupid bears who would love to play with leverage and the markets they turned extremely bullish. With many traders calling for three K shoe even some calling for the 1 k level and I tried to explain last week this is exactly what was going to happen. The leverage exchanges are once again setting everyone up but in the reverse. So money is not being made right now liquidating the Bears because there aren’t many of them. And if they are bearish they are not putting down a kind of cash. Money is being made by liquidating. The longer is the bullish crowd. We will only see a true reversal. Once everyone goes bearish once again and there is money for these scum exchanges to be made on the way up nice words back then. But now let’s go to the data when data mesh as we can see over the twenty four hour pump that for next liquidated over two hundred BTC on shorts and bitten necks they got over 50 million dollars in short liquidations in just 24 hours. So it’s a leveraged traders game right now where Arthur Hays CV finance and other allies centralized exchange cartel members are laughing all the way to the bank. So personally am I bearish or bullish. Well that is a complicated matter as I’m bearish and bullish at the same time bearish because I stick by my personal thoughts that this market is controlled by some extremely bad people. I mean during the flash crash bit Max proved it was the New York Stock Exchange of the crypto markets when they turned on their own circuit breakers halting trading on their exchange most likely due to the death spiral. Then you have to gather before next who are growing in the leverage game now which you should know my thoughts on them. They can now be considered the Federal Reserve of crypto being able to print when they see fit. This article explains it nicely. Bitcoin rallies as tether prints another 60 million USD ETF for the second day in a row of which pit for next CTO Paulo or doing yo covered for and said both of them were for inventory replenishes so it’s currently unclear whether this is a major individual or institution that is requesting more USD need to be issued or if it’s a person at all. And it makes me think that it is going to become a recurring theme as global markets continue their downward spiral but that could be bullish if we have a printer saving the markets from total collapse. Does it sound like something BTC was made to replace the USD. Yeah. This is what we need to talk about the traditional financial system. As bitcoin and dirty players within it are starting to mirror the scum in finance 1.0. But the reverse is true. To finance 1 point zero is also looking to crypto four days ago during the Monday stock market madness something was announced a way out of left field by Treasury Secretary Steve man Newton new gin booties booties. He announced that he would be appointing Coinbase as now former chief legal officer Brian Brooks to oversee the US national banking system. According to this Bloomberg Law Article about the appointment the office of the Comptroller of the currency has appointed Brian Brooks chief legal officer at cryptocurrency exchange Coinbase as first deputy comptroller and the agency’s second highest position. Brooks will also serve as the CCC Chief Operating Officer effective April 1st. So damn Brian you are in and you are in tight. So this is big and it was posted on our cryptocurrency. Look at the comment. This is good for bitcoin. How come this isn’t getting any attention. Sounds like some pretty deep stuff. Well you are correct individual thoughts on Reddit. It needs attention and this is some pretty damn deep stuff. So let’s begin Brian Brooks. He was brought on to coinbase back in September of 2018 which from this blog post his arrival is part of our effort to expand our legal compliance and Government Affairs capabilities as we head into the next chapter for the company and the cryptocurrency industry as a whole which Brian did because within just one month of bringing Brian on Coinbase launched you see their own digital dollar. Thus it’s super easy to assume that Brian the lawyer knows all the legal red tape around creating that stable currency usd. He knows what to do. He has done it before. That is why his transfer to the government especially leading and overseeing the banking sector is so big. They just brought on the best position and qualified person to lead the banking sector laws and regulations in the Government’s transition to a fully digital dollar. But a digital way to drop money to people could be coming much sooner than we think. The new chin the one who brought on Brian was the one who announced that their administration was looking to send a thousand dollar checks to every American. Direct payments to Americans are you talking about a payroll tax holiday. Although the president likes the idea that the payroll tax holiday. I will tell you what we’ve heard from many people in the president who said we can consider this the payroll tax holiday would get people money over the next six to eight months. We’re looking at sending checks to Americans immediately. And what we’ve heard from hardworking Americans. Many companies have now shut down whether it’s bars or restaurants. American state cash now and the president wants to get cash now and I mean now in the next two weeks. Yes they said just two weeks which is impossible unfeasible by doing it the old way of printing 300 million checks and then having everyone receive them and then take them to a bank. If only there was a way to do it digitally and you just brought on Brian Brooks. So this is just too coincidental. Missouri research just had Brian on 10 days ago when he was still with Coinbase March 10 to talk about Coinbase law. Well lets us hear what Brian said in the beginning of the convo about what he has done previously. I think you know on the origin story rather than just giving you a reverse summary of my resumé I can I can really give you a deep origin story because I’ve kind of been destined for this for a long long time. And so what I tell you is if you go back 15 years or more in my career a lot of what I’ve done as a lawyer was sort of trying to figure out and fix what’s broken with the financial system. And you know there are several early things that I think kind of pointed me in this direction. So one example I think about it is years and years ago this had to be more than 15 years ago. I was on the board of a nonprofit called Appleseed. We had a program at Appleseed called Financial Inclusion Program. And one of the things we’re trying to solve at that time was the. The problem that something like 10 million Americans receive their tax refunds in the form of a check from the government and these people didn’t have bank accounts. So in order to get their tax refund they had to go to a check cashing and pay fees that were five or 10 percent of the check them out just for the privilege of getting their own tax money back. And so we had a program at Appleseed where we worked with the IRS to aggregate a whole bunch of tax refund together and then go to the banks and say look you might not want to bank these people individually because you know they don’t have the minimum balance on a day to day basis but what if we gave you a million new accounts each of which had four hundred dollars and it would you then waive the fees. And when we did that there was a bank that was willing to do that. And we got the IRS to issue direct deposits into this bank and basically give in the bank that agreed to give these people debit cards and a free checking account. Yeah. He has previously worked on this type of stuff. Doing away with the old check system direct deposit finding the bank and working out the laws quickly. And now let’s just replay what he said in the beginning because I’ve kind of been dusting for this for a long long time. He is destined for this and for a long time. So I’m not saying it’s going to happen but it just might happen and they could be issuing these direct payments digitally. Everybody in the audience is being given USD see. It. But what Brian got legal clarity at Coinbase with his digital dollar USD fee was a centralized coin from the released blog post of USD CE each USD is 100 percent collateralized by a corresponding USD holding account subject to regular public reporting of reserve which means a collateral behind the USD and the dollars are in centralized accounts. You are trusting basically a bank again with your money. Okay we’re going backwards. So even if Brian isn’t creating legal clarity to eschew trumps and snooty boutique one K checks he is there to create the legal clarity for the eventual digital dollar. Just like how China is moving to the digital Yuan and this isn’t good for privacy. Since there will be no cash in the US the government will be able to 100 percent trace all money transfers. And in my personal opinion they’re thinking out five years ahead. This won’t happen overnight but it will happen. And those checks could possibly be the beginning of the new digital world. Is this good for bitcoin. We will have to find out. Cheers. I’ll see you next time.