80 Trillion Dollar Bitcoin Exit Plan

In this moment. History is being made. Today, the greatest risk of global catastrophe doesn’t look like this, instead it looks like this. Today, I am officially declaring a national emergency. Millions of Americans are worried after the worst day on Wall Street since the 2008 financial crisis. A global economic crisis has been coming for ten years, none of the problems that happened in 2008 were fixed. There is 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.

More and more people will choose a currency that a government does not control. If this is your first time here make sure you subscribe and click on the bell so you don’t miss any new videos. Throughout history Mankind has faced many challenges. With each passing crisis, we learned valuable lessons along the way. We bounced back. Stronger. Better. But sometimes the world is not ready for what’s to come. Sometimes, our world views face the ultimate test. These periods define us. It was early December 2019 when health officials in China admitted.

They have a problem. In China, health officials have announced they expect to see the coronavirus outbreak intensify. The virus has already appeared in all but one of China’s provinces. Growing concerns this morning about the worldwide spread of the coronavirus. There have now been more than 10,000 people infected with the virus in Italy. Well governments globally are enacting strict measures to contain the coronavirus. All of Italy is going on lockdown. It’s official. The 2020 Tokyo Olympics will be postponed by a year.

Over a hundred and twenty countries It’s called the invisible enemy. And that’s what it is. It’s an invisible enemy. Something unthinkable just weeks ago tonight The US has more confirmed cases of the the coronavirus than any other country in the world. There are now more than a million confirmed cases worldwide although the true number could be much higher. Now, suddenly we might be facing our biggest challenge in the past century. A worldwide battle against an opponent uncommon, unseen, and unnerving.

Governments around the globe are scrambling to understand track and contain it. On March 11th It was declared a global issue. It didn’t take long for the global markets to react and it seemed like it was 2008 all over again. The stock market is now down 21% percent. Traders here working the phone’s say a lot of their customers are freaked out, waiting to see how low the Dow will go. You’re seeing just broad-based declines across all of the major technology sectors. The heightened financial turmoil that we have Experienced of late may well lengthen the period of weak economic performance and further increased the risk to grow.

What started in America last year has now spread to every part of the world. This could be the most serious recession in decades and that means life as most Americans know it is about to change in some cases dramatically. The basic story of the 2008 financial crisis is familiar enough. Memories have centered on government recklessness and private criminality that led up to the crash. It is my opinion that you do not really understand the concept of banking. All the banks are broke. Bank Santander, Deutsche Bank, Royal Bank of Scotland, they’re all broke and why are they broke? It isn’t an act of God.

They’re broke because we have a system called Fractional reserve banking. Which means that banks can lend money that they don’t actually have. It’s a criminal scandal and it’s been going on for too long and most of the problem starts in politics and central banks which are part of the same political system. We have counterfeiting sometimes called quantitive easing the artificial printing of money which if any ordinary person did they’d go to prison for a very long time and yet governments and central banks do it all the time.

The sheer effrontery of this is quite astonishing. It’s central banks that manipulate interest rates commissioner. So when banks go broke through their own incompetence and chicanery the taxpayer picks up the tab. It’s theft from the taxpayer. Governments across the West rushed to bail out their ailing financial institutions. The problem was that the world’s banks needed dollar funding and the only institution that could fill that need was the Federal Reserve. Thus began a series of fiscal and monetary stimulus.

The money printers were running at full capacity in an attempt to bailout the system. It’s a stark reminder that central banks can basically print money out of thin air and slowly ruin the economy when iconic US investment bank Lehman Brothers Holdings filed for bankruptcy it shook people’s faith in banks so much that a new class of asset, which did not have the backing of any formal Bank came into existence. You confiscate a few billion dollars out of private bank accounts and you print a couple trillion dollars and all of a sudden You know what happens people start to worry.

So out of this worry, we have something called the Bitcoin. Now, what’s the Bitcoin? Bitcoin is an electronic online digital currency created about three years ago kind of flew under the radar Now it’s starting to actually gain some traction. You exchange your dollars you exchange your euros, whatever you go on to these networks And it’s an accepted currency and it’s zooming in value lately. Just unbelievable how much this is taken off and there are places that are beginning to actually accept this sort of universal digital currency, kind of operates in the shadows, not regulated but it’s a total outgrowth of people starting to get worried about these currency crisis, debt crises.

Where are these things accepted? Still not a lot of places I checked out online. Not a lot of websites that you would recognize But the places are kind of novelty clothing, gaming sites this tells you how really insecure people are in this age of debt and currency crises and all the other things that we have going on in the world. We now a decentralized immutable system, that could not be manipulated We now had sound money. More than a decade later Bitcoin has become one of the most debated and controversial financial assets from a value below $1 in 2010 it went on to become the best performing asset of the decade.

If there was an investment in the last decade that turned one dollar into ninety thousand dollars. What is it? This is literally the top investment of the past ten years. And would you believe it’s Bitcoin, the digital currency. Yes, a dollar in Bitcoin On January 1st 2010 would leave you with 90,000 today and that’s even with Bitcoin off its best levels. It’s about $7200 Right now it was above twenty thousand us two years ago It remains a very speculative investment But you know more and more retailers are accepting in as forms of payment and see those ATMs that we’re looking at as well and some of the big investment banks are dealing with it now adding some legitimacy to Bitcoin But now bitcoin is facing its biggest challenge to date.

What follows next is a chapter that’s going to be written about in history books forever. On March 11th 2020 the Dow Jones Industrial Average closed down by almost 2,000 points. Ending what will be remembered as the longest bull market run in history. The spreading outbreak is also costing investors trillions. On Wall Street It was another wild week. The Dow Jones Industrial Average suffered its biggest one-day blow since the market crash of 1987 digging deeper into its first bear market in a decade.

The White House’s economic director. Larry Kudlow is hoping to calm fears I will still argue to you that this is contained. The sense right now among investors that we just don’t know the extent of this virus and that’s why we’ve seen so much volatility in the market. You are what a 30-plus year pro Have you ever imagined that we would see a few trading days like the ones that we have. I’d be lying if I said the answer was yes, unfortunately The short answer is no. In the end more than two trillion dollars got wiped from American stocks global equities saw another six trillion of value erased.

Every single asset in the world faced back-to-back losses. Stocks, credit spreads, Treasuries were up one day down the next as liquidity worries grew. Circuit breakers were triggered market volatility a beast that’s been dormant for years Awakened and it wasn’t slowing down one bit. Why was this happening? Too much, it’s just too much. All right, guys, sorry about that. There’s nothing I can do about that guys. We have seen some big paper sellers coming in and all started out up above around We are watching a liquidity crisis playing out in real time.

With no liquidity everyone is rushing at the door at the same time looking to sell the only problem all buyers are now sellers and that is when panic and chaos breaks loose. It was clear the world has been under estimating one unpredictable catalyst. There was no real way for the markets to price in this incalculable variable. We finally had the president come out the response and that there would be a variety of economic measures to address the market impact. The global market crash caused by this invisible enemy Revealed an ugly truth about the economy.

Lessons have not been learned. a big economic crisis I think the situation that’s happening in Asia with a spread Covid-19 is going to precipitate an economic crisis So that’s certainly going to be blamed as the reason for the economic crisis, but the global economic crisis has been coming for 10 years. None of the problems that happened in 2008 were fixed. I think the average person really can understand that a lot of it was just swept under the rug and bailed out and the average person isn’t much better off than they were then.

The future of finance worldwide will be with much more decentralization based on open protocols and open systems that can reach everyone with a reduction in the needs to authorize and vet participants and instead build security mechanisms that do not depend on vetting but depend in the kind of game theory that we see in proof of work and proof of stake systems and other consensus algorithms who might emerge. The future of finance is open decentralized finance and it will help bring the whole of humanity into an economic system that everyone can access and I think that’s going to happen.

It may take several decades however to emerge that way not because of the technology but because of the geopolitics surrounding it The ability of governments control money gives them enormous power and they’re going to fight tooth and nail to preserve that power even at the expense of their own people. Today we have the US Federal Reserve Taking emergency measures to bailout the markets by printing even more money. Again. The crazy thing is like, you know in 1971 when we formally abandoned the gold standard The reality was every country realized that all of a sudden they had infinite power and it lied in in each of their central banks and the ability for those central banks to print fiat money and so ever since then we’ve just basically been printing ad nauseam effective and what Japan is really shown over The last twenty years is as long as I keep buying my own debt everything’s going to be ok, because you know I know I’m paying myself back and so I’m just round tripping money constantly I can keep this whole thing afloat for a very long time.

Now America has A different problem in that it has always been the reserve currency and there’s a lot of foreign entities governments and otherwise that own American debt So, you know the United States can go and play this game for a while But eventually it comes home to roost because you’re going to have to start issuing paper to higher and higher risk premium The question is how do you do it? The writing is on the wall. Governments are running out of ammunition. Slashed interest rates and trillions of dollars in quantitative easing are slowly eroding the value of fiat currency.

These measures risk plunging the economy into another recession instead of addressing the underlying problems. Bitcoin was created to fix this. Just like you said it’s gone from worth very little to worth a lot more. There’s been many bull and bear cycles over that time period really four of them that you could count. It’s a volatile asset. But if you look at the underlying fundamentals the strength of the computing network, etc All of those things are hitting near all-time highs or all-time highs So it’s very encouraging I think in terms of a store of value.

It’s still up over doubled this year and so you’re gonna get this asset that can run 2 3 4 X and then it’ll pull back a little bit and then it’ll run again and when you Have a store of value with artificial supply cap. You need increased demand for that price to continue to move upwards. Why would you ow Bitcoin if you could own the US dollar? I ultimately believe that people are going to opt for something. That is not Manipulatable, and it’s not seizable, it’s not censorable. Not debasable And so I think people are gonna continue Slow at first, but over time more and more people will choose a currency that a government does not control.

You see this invisible enemy is just the needle that pops the central bank bubble, the catalyst that provides an exit ramp in the event of the inevitable currency collapse. Fiat money is designed to inflate indefinitely. It’s a ticking time bomb Bitcoin on the other hand was designed with a fixed supply of 21 million Most importantly it is not governed by a central entity that can decide to increase its supply in times of trouble Thus we are on the verge of witnessing the largest fiat exit in history I think that this is the setup.

Meaning I think Bitcoin needed a moment like this for it to be relevant. We are driving slowly But we are driving towards a top of a cliff and then we’re going to drive much much faster down that cliff and at the end of it is a huge brick wall the way we avoid it is by pivoting to a resilient economy where we introduce inefficiency and cost or debasement the path dependence for Bitcoin is if it looks like path 2 is likely it will Really emerge as a flight to safety and over the next 10 years Where this trajectory is going to take shape and it is a 10-year trajectory You’ll have a lot of time to protect yourself and to hedge yourself.

I have always thought of Bitcoin as a very binary Investment. Whether it goes from eighty to eight thousand to six thousand to three thousand to thirteen thousand it just it doesn’t matter This is either 0 or it’s Millions. Because what it will do is it will create a quasi gold standard. It’ll create an index Except instead of having to own gold where gold is owned by central banks It is an instrument that has value that’s determined by in between its participants and it’s owned by everybody to free capital from the chains that banks and governments have wrapped them in is revolutionary in scope and monumental in size like the internet but bigger Bitcoin is not just an alternative to money.

It’s a rejection of the current economic system on our current trajectory Hyperinflation is inevitable while government’s are busy printing even more money Bitcoin is about to see its incoming supply cut in half One of the scarcest assets in the world is about to become even more scarce. This is the biggest opportunity Bitcoin has ever seen. We’re gonna see the rate cuts You’re gonna see the quantitative easing and then you’re going to see the Bitcoin halving it’s all gonna happen around the same time And I think that bitcoin is gonna become Incredibly attractive to a lot of people here the short term are very quickly.

While all the noise is going on in traditional markets The decentralized digital currency will keep on doing exactly what it was created to do block after block The strongest computing network in the world will continue to march on trading 24/7 no circuit breakers just a global free market This is the ultimate exit one where we’re able to build a new system of finance economics And government itself. There is a real chance by 2030 we don’t find a way to inflate our way out of this and that the only way to break the back of deflation is essentially to create some quasi form of gold standard, but it’ll be almost impossible to do that between governments and central banks They’ll never agree on an instrument and will never agree on an exchange But then bottoms up people could decide to do it and the minute that that happens individuals and people then it’s a done deal.

first I have to give Bitcoin creators Credit at least they they know enough not to trust fiat money that’s controlled by our government. Then why would people trust Bitcoin? It’s not control. I mean why why trust something that’s digital? Well, I guess you can trust it because it’s not controlled by anyone I mean had PayPal invented Bitcoin we’d all be heralding it as the most important financial revolution since the internet Since the credit card perhaps. How do you account for all the unknowns and What’s the value of one Bitcoin? I mean I think right now that one Bitcoin goes over a hundred a hundred and ten dollars is skyrocketing precisely because It’s a novelty for the Geek Squad I can assure you if these became well Promulgated then the US government would shut it down and just adjust to give alright just to give our viewers some perspective There’s about four trillion dollars in currency trading every day.

And as Michael said it’s about a billion dollars worth of Bitcoin I is it getting any traction in the markets then Jack? Well, yeah, absolutely it is I mean what it has quintupled in value over the last year. Just since the Cyprus thing came up It’s up over 20 percent or over the last month or about couple months. It’s up over 40 percent So it’s actually getting some visibility out there again your Purchasing power can be wiped out in a nanosecond and that’s why it would never be widely accepted in this I hear you say that But that doesn’t make it true And I think that there are people who spend a lot of time on this that might know this topic maybe a bit more And who would believe in it.

Nothing lasts forever. Humanity will bounce back. We always do. With each passing crisis. We come out stronger than ever. There’s no need to panic. We don’t have to afford cans of spaghetti or go down into the basement But we need to get going because time is not on our side. In fact if there’s one positive thing It’s that it can serve as a early warning a wake-up call to get ready If we start now we can be ready for the next epidemic. There’s no way to measure just how bad the consequences of the current monetary policies will be but if you think that at the end of all of this somewhere lies a digital immutable future then you already know there is no exit plan for Bitcoin Bitcoin is the exit plan.

We have recently teamed up with the people at Celsius Network to bring you the Opportunity to kick start your cryptocurrency journey with some free Bitcoin. Here’s how. Celsius is built for the people by the people Let’s talk about the Celsius Network and your philosophy behind that because it really kind of stemmed from the financial crisis, right sure Yes, so it’s really a very simple idea you get paid All right, you put your money in a bank account The bank takes your money and immediately lends it to me on my credit card They pay you less than 1% on your deposit and they charge me 25% on my credit card They keep 90 percent of the value that is just a system.

That should not work Most of us if our real estate broker charged us 90% of the value we would never work with them so I decided to do something about it and I think Eliminating the toll collector and creating a system that acts in our best interest is the purpose of the blockchain It’s the purpose of cryptocurrencies. So Celsius Network enables you to deposit your coins It enables you to lend them to someone else and you get to keep 80% of the value It’s a very simple concept but no one has really pulled all the pieces together and came and said hey Let’s let’s create an alternative to the banks to the financial institutions that dominate our life.

Deposit coins and earn interest of up to 11.5 percent Use crypto as collateral to get a USD or stable coin loan send and receive crypto faster easier And more secure with CelPay. Buy crypto Directly through the Celsius app at the lowest rates and start earning on your digital assets instantly. if you feel like taking advantage of the low prices for a Bitcoin buying opportunity make sure you use the promo code MINEABLE to receive $10 worth a free Bitcoin after a deposit of $100 or more in any coin.

If you made it to the end of this, Let me know in the comments if you’re bullish or bearish on Bitcoin in 2020 Also, make sure you subscribe and like this blog.

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