Today in crypto bitcoin is maintaining strong price momentum. But can it last or are we in for more price pain. The U.S. stimulus package gets held up by Congress thanks to of course disgusting corruption in the government. The Federal Reserve keeps doubling down on infinite money printing and the FDIC wants to assure you that your money is safe in the bank. The crypto lurk. This is where you subscribe. All of the hottest and all of the latest happening out there in the wild land of crypto and beyond. Before we turn over to the charts. If you are new to crypto then you need. Check out my course crypto currency explained. I will show you all of the basics how to buy send in-store bitcoin and a theorem as well as teach you the top resources and tips that you need to know for success in crypto investing. There is a link down below where you can learn more OK now over to the charts. So we are moving closer and closer to the monthly close for bitcoin and of course we do have to wait for this candle to actually close to be valid but I just wanted to underline really the insane demand that we saw for bitcoin at the 4000 and the 5000 dollar levels we just look at that monthly candle right now is forming up that is a three thousand dollar Wick that is showing massive support from buyers has happened there are a lot of people out there who are bullish on the future of Bitcoin especially at those price points obviously let’s see how this month closes out but definitely curious to see how it is shaping up now over on the weekly we are still sitting nicely above that 200 week moving average. Now a lot could change in the next few days but let’s hope that the momentum that we are seeing does continue that we close a nice green candle over the 200 week moving average that would definitely be a bullish sign for the recovery of the market over on the daily we just got a third bounce on the key trend line that has been forming up. Now this line of support on the daily I’m looking at this is a critical level right now a break below this line would send the price back into a definitely more bearish zone so let’s watch for six thousand dollars as a holding line on the daily for bitcoin right now although a wick down to around fifty-nine hundred that would not actually invalidate this since that level of right around fifty-nine hundred has in the short term set itself up as a good price line for bitcoin to hold up. But also we do have some strong historical moments when the price found support right around the fifty-nine hundred dollar level. But I do think that we could see this uptrend continuing for a while but do just remember that although the charts are looking relatively bullish at the moment that as this crisis grinds on we could definitely have more panic moments in store and of course that equates into more moments of price pain. So do be aware of that. Also if you are looking for a great place to trade Bitcoin futures and too long into short the market then check out by bit if you sign up using the link down below then you can actually get up to ninety dollars in trading bonuses by bit is of course a high-risk high reward margin trading platform and it is only for experienced traders, by the way, it’s not just bitcoin that is up at the moment the Dow Jones Industrial Average recovered more than two thousand points on Tuesday soaring to its largest one-day percentage gain since 1933. Wowsers gold also had a really good day as well. In fact gold has been having a great week. Overall right along with bitcoin gold is up around twelve point five percent in just the last few days proving that even in times of great uncertainty that there is massive opportunity out there in the markets. In fact gold is in red hot demand right now especially the real stuff with gold and even silver dealers around the world reporting shortages as they are unable to keep up with the demand from retail consumers walking in and trying to buy physical gold and silver. OK. Now onto the first big story of the day the stimulus deal in the United States has stalled in Congress really no surprise there to be honest. But we do have a new price tag for that package. Just have a quick listen to this video here fun by the way will be overseen by an oversight board and an inspector general. It will be completely transparent so the total package share comes to roughly six trillion dollars 2 trillion direct assistance roughly 4 trillion in federal reserve lending power again. It will be the largest mainstream financial package in the history of United States liquidity and cash for families small businesses individuals unemployed to keep this thing going. Six trillion dollars six frickin trillion. That is wild. Remember this is not coming from like a government savings account. No no no far from the U.S. is actually twenty-three trillion dollars in debt. And this is not from tax revenues. No, the U.S. collects far less than that annually and already runs at a very large deficit meaning that of course that they collect less in taxes than the government is spending meaning that they are borrowing to spend every year. This is new money being created and new money that is being flooded in to the financial system. Also, this bill will likely be one of the biggest handouts ever to corporate America lobbyists. They are working overtime in DC right now to make sure they get their little slice of the free money pie. Even if 500 billion dollars goes to regular Americans. Just remember that that is basically just a small bribe to play Kate the masses. Corporations they are gonna get way more every major industry right now they have their hand out for as much as they can get. Man screw these corrupt politicians they’re always just so ready to get down on their knees to please their corporate masters. It’s gross. Seriously in the middle of a pandemic. Instead of acting decisively to help regular people the politicians are slowing down the process in order to make sure that every corporate lobbyist has their chance to get a piece of the pie. This is payday for these guys. It’s absolutely sickening. But this is what politicians do. They take bribes and then they do favors for people on the other end. This is inaction. Public health be damned. Now up next are two very interesting stories that I want to share with you that have come up in just the last few days the first one is a short clip from the Federal Reserve’s let’s have a little peek at that real quick. Everything that the Fed has done this past week as essentially flooding the system with money. Yes exactly. And there’s no end to your ability to do that. There is no end to our ability to do that. Is the Fed just going to print money. That’s literally what Congress has told us to do. That’s the authority that they’ve given us to print money and provide liquidity into the financial system and that’s how we do it. We created electronically and then we can also print it with the Treasury Department printed so that you can get money out of your A.T.M. your A.T.M. is safe your banks are safe. There’s enough cash in the financial system and there’s an infinite amount of cash at the Federal Reserve. We will do whatever we need to do to make sure that there’s enough cash in the banking system. That guy did not misspeak. You heard that right. Infinite money as if the six trillion dollars wasn’t enough already in six trillion. That’s a startling amount of money but that’s just the beginning. Amount of money. These guys are sociopaths. They are literally ready and willing to print any wealth that is stored in dollars into absolute oblivion. Your dollars sitting in a bank account earning 0.01 percent interest. That’s cute. Really. That’s nice isn’t it. Inflation is about to rob you blind. And just as a bit of extra icing on the cake. Just who is being tapped by Secretary of Treasury Stephen mutations who help oversee these bailouts. Well it’s none other than our good friends over at Goldman Sachs. Oh man oh man I swear. Life it is the real comedy I couldn’t write this stuff if I tried. It’s so absurd. This is like putting the foxes in charge of the henhouse. The central banks. They are all promising unlimited quantitative easing. There will be no end to the money printing. There will be no end to the buying of corporate bonds and that that is seriously sick. By the way you’re going to have the government out there the Federal Reserve stop stepping in and actually buying these junk corporate bonds. The system is a total joke. This crisis could spell real trouble for the dollar and other major fiat currencies. We may be finally entering that early stage of hyper Bitcoin possession because we might of course be entering the first stages of hyperinflation for the world’s most important fiat currencies. The Federal Reserve has promised infinite money. The Bank of England they have said that they will put up unlimited quantities of money and the European Central Bank. They have also said that there are no limits that they won’t go to in defense of the euro and the U.S. the U.S. deficit will likely be over three trillion dollars this year meaning that there will also be on ending debt. Now how long until the U.S. has 30 trillion dollars in debt. How long until the debt owed by the U.S. government goes over the yearly tax income for the government. What will the answer be to such absolutely insurmountable debt? Well, it’s going to be the same answer that there always is. Print more money print money to ensure corporate profits. Print money to cover the debt. Print money to fix the problems caused by printing money. That’s the only answer. It’s crazy. I am so happy that I hold bitcoin when I see news stories like this. It’s just wow. Wow. And I did promise you a second story sluts started off with this nice little video here from our good friends over at the f d I see. This is what I would like you to take away from this. Your money‘s safe at the banks. The last thing you should be doing is pulling your money out of the banks now thinking that it’s going to be safe for someplace else. You don’t want to be walking around with large wads of cash and you suddenly don’t want to be hoarding cash in your mattress. It didn’t pan out well for so many people. And I will tell you this. No depositor has lost a penny of their insured deposits since 1933 when the FDIC was created. So if you’re talking about having your money in a safe place please keep it in an FDIC insured bank. First off the food is up with that cheesy music man. Nothing says like lack of confidence like that she’s music anyway. This is the FDIC telling you to please please don’t take your money out of the bank. It really makes you feel like you want to take all your money out of the bank after listen to something like that, doesn’t it? Look a bank run. It can happen. I don’t want these things to happen but it’s a possibility they have happened and lots of other countries around the world many in just last couple of years. There is no reason to think that the USA is immune from having these things happen. Also, I’ve had a lot of people asking about the FDIC since my video the other day where I said that the FDIC only covers around 1 percent of U.S. bank deposits. Now although I have actually covered this topic before in previous videos I do need to of course member personally to that since I last discussed it some months ago many new people have come into crypto. And of course many new people have come to the channel in general so here are the numbers for you so you can understand what a joke the FDIC actually is. So the FDIC currently has a little more than 100 hundred billion dollars in its insurance fund. Sounds like a lot of money right. So that means they can cover 400000 people who hold 250000 dollars in their bank account. That sounds pretty good but then you need to realize that the total amount of U.S. bank deposits is around nine point five trillion dollars and the total of these deposits that are insured by the FDIC season may maybe around six trillion or so you take him and you do the math there but something doesn’t seem to add up to me. How does one hundred billion cover six trillion or even nine point five trillion also remains to be seen? What if any role the FDIC would play if the U.S. actually allows banks to do bank balance. These are now legal in almost every country the USA included after they did the bank balance in Cyprus and there are no bankers that were hung in the town square. I think the elites looked at themselves and decided well I guess that’s cool and normal so we should probably do that again in the future. Put that under our caps as a tool used for later a bank bail in case you’re not familiar is where the bank takes money from your account to cover their losses. Cash is a risk. Yes, it is true. It is true that you can get robbed in your home. You have bunch of cash sitting your house or that actually a cop in the USA can rob you on the way home from the bank because remember having cash makes you a criminal. And only criminals have cash. Insane logic but that the logic applied in civil asset forfeiture is by cops. But banks are not as safe as they are made out to be. Now, look maybe you don’t need to worry since the Federal Reserve will probably just print the other few trillion dollars if needed to cover the U.S. bank deposits. If banks in the U.S. actually do fail if the helicopter money being thrown out to them in terms of the stimulus and bailouts doesn’t just say the banks anyway but assuming that the FDIC is some kind of a safety blanket during a Black Swan it just isn’t. It really isn’t. We will always think that these bad things that can only happen to someone else somewhere else and that they can’t happen to us that multi-hour lines to withdraw a few dollars from the bank that only happens in faraway places. It can happen anywhere to anyone at any time. The system is super fragile and it is massively corrupt and rotten. This is what has happened and been proven to us in places like Argentina and India and Lebanon. Capital controls can and will be implanted by banks they have proven they are willing to do it. You will be restricted from accessing your money. The banks they have every right to do this and they will do it if they deem it necessary. I’ve said it before and I’ll say it again. The Perfect Storm is here for bitcoin central banks they are printing on limited money-making hyperinflation and increasing reality for the world’s most prominent fiat currencies. Rates are going to zero or they are going to negative everywhere during this crisis. Capital controls are becoming increasingly likely. The banks are already begging people not to take their money out of the banks because reality is they don’t have it thanks to fractional reserve banking and the bitcoin having less than 50 days away. Tick tock mother Deckers it’s common man is common. These are the times to separate the men from the boys and the ladies from the girls. The believers will buy and hold Bitcoin the believers probably already do hold Bitcoin. Bitcoin remains as it always has a permission list. Decentralized Swiss bank in your pocket. No bail-ins no unelected clowns printing trillions more just solid simple economics and digital scarcity. In times like this I am definitely happy to be a bitcoin holder. But of course, those are just my two sit whooshes. You will let me know what you think about any of today’s news stories down below in the comment section. Do you think that 6 trillion is going to be the final number for the stimulus package? Or are we going to see 10 trillion 20 trillion. These numbers sound insane but 6 trillion is a crazy no man totally crazy so I’d love to know Europe about that down below. Will we see even more trillions being thrown into the dumpster fire of the economy or not. Love to know your opinion on that of course. Thank you so much watching today’s video. Hope that you’re staying safe that you’re staying healthy that you’re keeping a positive attitude through all of this craziness that we see going on out there. Make sure to hit that like button if you did enjoy today’s video and subscribe to the channel. If you’re new around here long live the blockchain and piece out the next time.