BTC and May 12th's Financial Stability Oversight Council Meeting
Upcoming BTC Cycles & the Fed's Comments on CBDCs
BTC top was March. If you want a lesson on why, I will explain PCs in a lesson. When you hear this trick you'll never look at a chart the same way again.
In other news, we continue to see capitulation across the crypto market as a whole. As many of you know, I am always advocating for yall to listen in on the House Financial Services Committee free live YouTube streams and today was the Annual Report of the Financial Stability Oversight Council with Janet Yellen. In the past I've lovingly referred to CBDCs like the death star, which is now "fully operational" but they're just picking the staff to run the thing. So what is Yellen saying about the progress in today's meeting?
Yellen says, "Ehh we can't agree on a design."
**Boston Fed is working alongside MIT on the "Hamilton Project". CBDC design is here. **
**Why doesn't the Fed seem concerned about inflation?**
Because they're about to implement a whole new economic system. This one crumbling only backs their case for doing so.
**Yellen's response to whether or not any of the other "200+ stablecoins will remain relevant after CBDC introduction?"**
She didn't want to say no bc she couldn't upset insitutions & hedgies so she said "sure!.." and prioritized *transaction speed* as the identifier for what would stick around. No mentions of "stores of value" or things of that nature.
**Historical precedent for CBDC**
They compared it to the introduction of the greenbacks. TLDR on this history lesson was basically post civil war paper money took place of gold & silver, a bunch of other people tried to make a bunch of other different forms of money, the only one that stayed was the one backed by the banks and the other ones just became the 18th century version of delisted. People had faith in the banks because they appeared to have the gold and silver to back up the paper issued.
**Modern precent for CBDC**
COVID attempted to introduce health passes/green passes (EU) which were perceived as stripping privacy rights for sake of convenience & technological transparency; many were ultimately allowed. If you wanted to do you had to comply with . The delay is this: CBDC isn't being put out bc __it's Fed vs. Banks__ and the Banks are Jake Paul. If Fed controls CBDC citizens would view their privacy as stripped away, so they'd let Banks do it to get their agenda done but they really don't want to have to outsource it this way. In the era of data mining = $, banks have the upper hand on the Fed, and want it to stay that way. Last time corporations/banks had this much power (JP Morgan/Rockefeller eras) THEY were the ones bailing out the Gov. Fed trying to prevent that.
**TLDR; Runs allowed people to get accustomed to crypto & to allow the free market innovation to flourish. Big Bois could then pay them enough for their work or bully/blackmail them out of it (as was the case with XRP). Some of the world's smartest/richest people would back crypto adoption. (Classic "make them think it's THEIR idea" psy ops tactic). Then, with Blockchain they can tax absolutely every transaction which people have already felt happening with PYPL.**
BTC Price action for May/June: when this demand zone is truly lost this will produce the first panic wash-out into June. Many will be looking to sell the bounce in the future. Some will stop drinking the kool aid and others work for the kool aid makers and will artificially pump it when they can to liquidate the moonboys, still holding on to their dreams of decentralized finance. Predicting 20-30 as new range
BTC top was March. If you want a lesson on why, I will explain PCs in a lesson. When you hear this trick you'll never look at a chart the same way again.
In other news, we continue to see capitulation across the crypto market as a whole. As many of you know, I am always advocating for yall to listen in on the House Financial Services Committee free live YouTube streams and today was the Annual Report of the Financial Stability Oversight Council with Janet Yellen. In the past I've lovingly referred to CBDCs like the death star, which is now "fully operational" but they're just picking the staff to run the thing. So what is Yellen saying about the progress in today's meeting?
Yellen says, "Ehh we can't agree on a design."
**Boston Fed is working alongside MIT on the "Hamilton Project". CBDC design is here. **
**Why doesn't the Fed seem concerned about inflation?**
Because they're about to implement a whole new economic system. This one crumbling only backs their case for doing so.
**Yellen's response to whether or not any of the other "200+ stablecoins will remain relevant after CBDC introduction?"**
She didn't want to say no bc she couldn't upset insitutions & hedgies so she said "sure!.." and prioritized *transaction speed* as the identifier for what would stick around. No mentions of "stores of value" or things of that nature.
**Historical precedent for CBDC**
They compared it to the introduction of the greenbacks. TLDR on this history lesson was basically post civil war paper money took place of gold & silver, a bunch of other people tried to make a bunch of other different forms of money, the only one that stayed was the one backed by the banks and the other ones just became the 18th century version of delisted. People had faith in the banks because they appeared to have the gold and silver to back up the paper issued.
**Modern precent for CBDC**
COVID attempted to introduce health passes/green passes (EU) which were perceived as stripping privacy rights for sake of convenience & technological transparency; many were ultimately allowed. If you wanted to do you had to comply with . The delay is this: CBDC isn't being put out bc __it's Fed vs. Banks__ and the Banks are Jake Paul. If Fed controls CBDC citizens would view their privacy as stripped away, so they'd let Banks do it to get their agenda done but they really don't want to have to outsource it this way. In the era of data mining = $, banks have the upper hand on the Fed, and want it to stay that way. Last time corporations/banks had this much power (JP Morgan/Rockefeller eras) THEY were the ones bailing out the Gov. Fed trying to prevent that.
**TLDR; Runs allowed people to get accustomed to crypto & to allow the free market innovation to flourish. Big Bois could then pay them enough for their work or bully/blackmail them out of it (as was the case with XRP). Some of the world's smartest/richest people would back crypto adoption. (Classic "make them think it's THEIR idea" psy ops tactic). Then, with Blockchain they can tax absolutely every transaction which people have already felt happening with PYPL.**
BTC Price action for May/June: when this demand zone is truly lost this will produce the first panic wash-out into June. Many will be looking to sell the bounce in the future. Some will stop drinking the kool aid and others work for the kool aid makers and will artificially pump it when they can to liquidate the moonboys, still holding on to their dreams of decentralized finance. Predicting 20-30 as new range