FINALLY Some Good News Coming From The US Government And Crypto
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- Опубліковано 11 чер 2024
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Today Toby dives into the relationship between the US government and banks as we go over the recent shift. We also take a look at the creation of the Federal Reserve and why it was setup in the first place.
Is crypto a threat to traditional banking? Donald Trump's recent comments on cryptocurrency and the growing number of US citizens embracing crypto are showing a change in the system.
And what does the future hold for US citizens? Toby gives his thoughts on the impact on the US economy and how you can prepare.
00:00 US Government vs Banks
02:02 Why The Federal Reserve Was Created?
02:28 Trump Embracing Crypto
03:06 How Many US Citizens Hold Crypto?
04:12 Future Of The US Economy
#bitcoin #crypto #cryptonews #cryptocurrency #usa
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Who do you THINK wins this battle? BANKS or CRYPTO! 💭
👉 Follow twitter.com/sircryptotips (Toby) for more crypto insights!
What a stupid question😂 there is no crypto without Banks ... You plan to retire on testnet tokens ? 😂😂😂
@@lurker668Banks can slowly die , eventually only crypto will survive. That's possible.
Trump and Bitcoin against the elite lets go !!!!
Wait, what? You don't think Trump is among the elite or are you being sarcastic?
Self custody solves this problem 😂
Satoshi Nakamoto cackled hysterically to himself. It was late in 2008, and he was about to unleash his white paper and his digital creation upon the world. He was hot and sweaty- the mining rig in the spare bedroom put out a lot of heat. It would soon be obsolete, he knew, but it didn't matter... the computations were still relatively simple and the energy requirements low.
He cackled again and wiped the sweat from his brow.
"This is going to be so much better than credit default swaps," he said to himself.
Hi thank you both for the update ❤😊
Great update Toby! Self custody is so important as it impowers the individual rather than the "system".
Sure 😂. And how you use it without banks ?
@@lurker668there's quite a bit of the learning trail , it seems, still in front of you. Hopefully you'll not get lost.
Hi Toby,I think you guys should be talking about world wide Bitcoin , not only corrupt USA.
Thanks Toby
Hit the nail .
My thoughts exactly.
TY 👍👍
Yes Toby!
Water is for toilets!
Tobby where are you filming from because it looks beautiful
🇨🇷 or 🇹🇭
Blackrock owns SEC yet no more etfs lol ie eth ?
Problem is not banks owning crypto. Problem is banks buying crypto would buy less US treasuries
You do understand that US treasuries are actually backed by something called a real economy with economic output, right? An economy, that love it or hate it, is backed by the United States military?
Nothing backs Bitcoin- trust and scarcity don't make a thing inherently valuable.
Riding financial bubbles are part of capitalism but at least recognize them for what they are.
@@premnas651 yes backed by a military that has been losing to sandals wearing insurgents since Vietnam. This is how Bidenomics works. Because as long as as there are conflicts that needs US military equipment like in Ukraine and Israel, and least American defense industries will be making money. Everything else can be made in China
It does not matter if US wins or lose a war. What matters are American armaments get sold. US taxpayers will pay for it. If not, they can always borrow
$34T debt to generate a $26T economy. That will be sustainable till Trump takes over. He's the bankruptcy expert. He'll know what to do
Lol wtf are you talking about? Fiat is backed by militaries.
You dont have it quiet right. Bitcoin is a ledger... the usd is debt voa fractional reserve banking.@@premnas651
@@cameronpresley5771 yes, and what a wondetful system that has been. Endless wars, and who benifits? Yeah we all get your point, and would like to move on.
banks should not hold private assets unless there are private sovereign Trust alternatives for all. And accessible for all who want in easy to comprehend formats. Also full disclosure and tracking on the bank’s activities with said holdings. Full transparency. Now guess the odds of that happening.
Nice stuff to split the video in some parts. Helps the viewer to focus on what he wants
Plz look into HJ 109 bill that would nullify SAB 121. If it passes banks/firms would be able to custody their customers' crypto and NOT have to carry it on their balance sheets. I'm sure you can see the problem this could cause if banks could treat crypto they have custody of as fiat deposits and sell them to loan out the funds or invest elsewhere? What happens if the crypto they sell moons and customers want to withdraw? I am not for the SEC but the solution is NOT to nullify the SAB 121. Congress NEEDS to do better on legislation and regulation.
I'll have to look but the way you described it - by not being on the balance sheet they can't loan it out. You would never deposit at a bank that didn't have merkle tree proof of crypto assets. Since you know the wallet you deposit to at the bank, you know if/where they move that.
@@BradleyT2p2 Thank you for the clarification. I think I jumped to conclusions when I saw certain parts of what they discussed about the bill and SAB 121 which was probably fueled by my mistrust of banks and politicians. Hopefully there is some legislative clarity soon. The US needs to figure it out or we are going to be left behind.
Yes - hardware wallet for storage ( Trezor ) - a hot wallet (Coinbase wallet, Phantom, Exodus) to trade on a DEX ( Aero, Jupiter, Uniswap ). And cash out into USDT or USDC back on your hardware wallet..
Exactly!!!
Bank Social BSL to have !
Totally agree, instead of actually trying to make things better in America for most people. The leaders at be would rather keep limiting their citizens ability to self custody assets or leave. That way they can force people into poverty and force them to stay in the country and not actually improve things
Toby, need some Aquaphor?
Well explained.Thank you for bringing up this video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject .....Thanks to Laura Ferguson, the lady you recommended me to.....
Anxiously waiting for my passport. America is rotting.
The other thing is everything changes and they gotta change with the current or the current gonna rip them away
I just don’t understand how they can make people turn over their BTC if they would say that you can’t self custody …???
Crypto crypto !!!
Is Coinbase wallet a decentralized place to put crypto?
No
Coinbase wallet is NOT a good choice in my opinion… my coins disappeared from my wallet, Coinbase is not helping at all.
I think the US passed crypto bill against SEC overreach.
You got any banks left no rate cuts till September most be gone by then
Are you claiming that most US banks will be gone by Sept 2024? Thats a bold claim with nearly 0% chance.
The QFS can pay off our debt. Peg commodities to crypto and revalue pegged commodities.
Doesn't matter who wins. The printing machine will not stop
Crypto is only the next layer of the plan. Blockchain ( all in the name) do you know the where the name of "blockchain" came from ? We going to be rich slaves (free roaming, cage chickens, which one you want to be?)
Trump is not new to supporting crypto, he has done so for at least the past few years.
Trump supported crypto in the past by who he put in charge of the SEC. Now Trump seems to support crypto more directly (he has his own NFT's, made a public appearance with the founder of POLYGON, made public statements against CBDC's after being directed to that position by Vivek, etc.)
Make Crypto Great Again.
Bitcoiner appreciate self custody.
Hell yea first
A noble achievement! 😉😜😉😎🙌
Maybe mommy will make you an extra pizza pocket for lunch now.
When someone tells you they made 5 figures trading, they mean like 100.00. thats 5 figures. Lmao
Someone whos sick a million times cant get big enough to fight like that - willy 0
Cant stack black blood infection immunity either even if ya could do it correctly - willy 0
Usa over a 100 trillion in debt now wow run by pensioners 😂😂😂
A hundred trillion, huh? Ok.
WHY YOU AFRAID TO SAY SAB 21 TOBY??
Just add all the good bills to a Ukraine funding bill and bam!
VOTE TRUMP! If he wins, I hope he makes Vivek Ramaswamy SEC Chair!
Instant recession 😂. That would be end of US influence worldwide and imploded economy. Last time he destroyed decades of building that dominance.
@@lurker668You clearly are not aware that the US President has zero power and is not behind ehat happens. They take credit for good and the blame for the bad, but the US President is nothing more than a public figurehead controlled by the richest people on the planet.
@@lurker668You clearly are not aware that the US President has zero power and is not behind ehat happens. They take credit for good and the blame for the bad, but the US President is nothing more than a public figurehead controlled by the richest people on the planet.
With Biden destroying our standing in the world the only hope is a return to better times with Trump. Are we better off than just 4 years ago, our wallets say no. Who would even want 44.6% capital gains tax. Gotta be a moron to vote for Biden.
Yep, have to leave North America if it keeps getting worse.
If Trump and the Fed were in a ring together, I’d bet on the Fed any day.
Were even where ya went getting sick sucks - willy 0
wow tiny minds, you think trump is your hero? good luck. prob this issue is too big for you to understand. the global system is very complex, but yes move to portugal and think you are escaping it, good luck, bc what that all means and how it works seems beyond your financial grasp. the us gov are not "turning on banks" this has always just a long term plan to centralize.
You sound like a big government sympathizer.
Wrote my own comment similar to this one. And then unsubscribed. Good on you for pointing out the flaws in this video as well.
Seems you’re not as smart as you try and pretend. The FED chair is selected by the president and confirmed i believe in the senate. So it does matter who wins the presidential election as they will dictate the chair and as always the FED will follow the leader.
Smart or not next video more views before all goes down to shithole again. YT have own pump and dump cycle. They don't make money on crypto
The FED is a private bank and is the leader the president naming a FED chair is purely ceremonial ! I love Trump but I don’t think the president has as much power as we think who owns the FED that’s the power ! Rothschilds are owner’s they are j-wish the level of manipulation on all levels is off the charts we are deep in a world of trouble hope we make it out ok
Funny you would say that when the president is elected by donors.
You think Biden knows anything about crypto yet he's going to veto a recently passed crypto bill.
The president doesn't run the show. He's just another puppet.
And the fed chairman is usually someone from wall street. It's a revolving door.
You clearly are not aware that the US President has zero power and is not behind ehat happens. They take credit for good and the blame for the bad, but the US President is nothing more than a public figurehead controlled by the richest people on the planet.
He means the people that run the FED not work for them. 😂
God bless Trump!
Trump will steal your crypto to pay his legal bills 💸💸💸😂😂😂
I'd rather pay his bills than pay for illegals, Ukraine, Israel etc and all the other crap we pay for.
How? Id never give my crypto to anyone lol.
Just stop with your nonsense
What's the end game by chasing this ₿itcoin oversees if other countries are willing to embrace this asset❓
The Don is going to spin up some official US meme coins then pay off the debt and save the day.