저자: AllinCrypto채널진행자 · 외국인
요약 보기
제이미 디몬의 채권시장 균열 경고와 국가안보 관련 발언을 소개하며, 비트코인이 실패하는 부채 시스템의 대안이라고 주장. 채권·국채 금리 상승과 은행권 미실현 손실을 근거로 제시. 진행자는 알트시즌이 연말에 올 것이며 비트코인 도미넌스가 장기적으로 20%까지 하락할 수 있다고 전망하고, 현재 투자심리가 바닥이라 기회라고 주장.
다듬은 글
You are going to see a crack in the bond market. Okay? It is going to happen. And I tell this to my regulators, some of who in this room, I'm telling you, it's going to happen. And you're going to panic. I'm not going to panic. We'll be fine. We'll probably make more money. And then some of my friends will tell me that we're that we cause we like crisis because it's good for JP Morgan Chase.
Bit of a Freudian slip there, I think, from Mr. Jamie Diamond, who of course is the CEO of JP Morgan. He nearly said, "We cause the crisis." And JP Morgan has a very interesting history in regards to crisises. Um certainly probably most notably the one that led to the Federal Reserve Act. However, we don't want to discuss that.
We want to discuss what he's talking about in regards to the bond market, which is the bedrock of our financial world here in the West, but globally as the dollar is the world reserve currency. And ultimately, the reason we bring this up as a crypto channel is because there's never been or there has never been a better time to be in crypto than right now.
And retail sentiment simply does not reflect that. People often forget, and I'm going to throw on screen what was incorporated in a Bitcoin transaction. One of the early ones from Satoshi Nakamoto himself. It says, "Chancellor on the brink of second bailouts for banks." Now, this of course came out in 2008 when Bitcoin's white paper was released on Halloween 2008, the 31st of October.
The first block uh for Bitcoin was published or produced in January 2009. And Bitcoin was very much created to combat or to offer a lifeboat, an alternative to a failing fiat system at the perfect time, almost like divine intervention. It's why we question the origins of uh the Bitcoin story. And since then we've seen further proliferation of the financial system in America.
The bailouts that took place were around about $500 billion. The uh stimulus that came on the back end of lockdowns in America was over 7 trillion. That shows the progressive nature of where we're currently at. In fact, the Silicon Valley bank and all these things that essentially happened as a result of a falling bond market and we're going to talk about that in a second.
And that's exactly what JP Morgan or or Mr. Jamie Diamond was talking about there. Those bailouts were basically similar on a few banks to the scale of the 2008 financial crisis in regards to government or um central bank interaction with uh bailing out um the banks that were involved in 2008. We we saw almost a similar size with a with a handful and that's really the progression of a failing or proliferating system and Bitcoin offers a lifeboat to that.
I still believe that today just like gold does. The gold bugs will eventually be very right. They have been right and they're going to continue to be right. I am waiting for silver to play catch up. I own a number of miners around that. But it's very interesting what Jamie Diamond is saying that he's almost given himself an alibi if you will and we do indeed have a debt market a bond market certainly the Treasury market that just can't catch a bid right now.
We see yields continue to climb not just in the US the Japanese yields are doing the same thing. And it's this very interesting dilemma. you know, this is the very thing that backs money up or how money comes into issuance and it's struggling. And Jamie Diamond's there saying there's cracks in it. And he also goes on to say that the US government shouldn't be stockpiling Bitcoin, ironically, but should be stockpiling guns, bullets, tanks, planes, drones, and rare earth minerals.
And I want to dive over to a clip of him saying this before we extend on it all. We're going to look at an FDIC report. And the reason I bring this up is not because of solely the unrealized losses that banks are under due to the Treasury market, but the nature of insured assets that banks hold equates to round about a penny, 1.3 pennies to every dollar, which is the nature of the broken financial system that we have.
It works for now, but there is going to be a realization point when the emperor has no clothes. And I think that ushers us into a new financial system. And a lot of people think that happens on the failing of the debt system. I think it happens on the evolution of the debt system that's going to be enabled by crypto.
Not Bitcoin that offers a lifeboat. And this is why I say there's never been a better time, but the likes of stable coins that are going to evolve money and debt and so on and so forth. Let's dive into this clip of Jamie Diamond talking about not buying Bitcoin, rather ironically, um, but other things in regards to national security.
Let's dive into this. expanding intersection between industrial policy in this country and national security which sort of gets at what you're talking about some of these different industries and it's spanning the last couple of administrations. Everybody devils in the details in ter terms of how the policies shake out across administrations.
Um but I I guess to that point do we need to rethink what constitutes national security? I wouldn't rethink it. We know what constitutes national security. We need you know I was saying we shouldn't be stockpiling Bitcoin. We should be stockpiling guns, bullets, tanks, planes, drones, you know, rare earths.
We know we need to do this. Not a mystery. Did you say stockpiling Bitcoin? I said we shouldn't be stockpiling Bitcoin. We shouldn't be stockpiling bullets. Okay. Like, you know, the military guys tell you that, you know, if there's a war in the South China Sea, we have missiles for seven days. Okay.
Like, come on. I mean, we can't say that with a straight face and think that's okay. So, we know what to do. We just got to now go about doing it. get the people together, roll up our sleeves, you know, have the debates, do some privately, do some publicly. Uh, you know, JB Moore is going to publish a we call the defense action form, something that shows we don't we don't leave excess surplus production capability for missiles or bullets or bombs.
We don't have a military that can flexibly move money from, you see how quickly the software and hardware, they need changes. So, the military can't have a 30-year program. They've got to be able to cancel that drone program, build up that drone program, hire this person to do the software. We have to allow them to do multi-year budgeting.
We essentially don't. the military tells me it cost him $50 billion a year. Uh, and we have to spend more. I think the irony of Jamie Diamond, who makes a hell of a lot of money on the indebted nation that is the United States, so are we in Britain, um, that pays more just on interest rate servicing of the debt than a military the entire military budget.
I mean, we're all hypocrites. Jaime Diamond is nothing short of. Um, and I think one of my favorite stories ever is Jesus and the adulterer. And for anybody that's unfamiliar with that story, do go and check that out. I think it's uh you know, whether you're religious or not, it's a great story um in regards to the uh parable that it is.
But Bitcoin was created for all of this. There's never been a better time to be in crypto. You have um very much a failing debt system, which Bitcoin was created for. showed you that article or or or the clip of of a newspaper that came out in 2008 that was put into really one of the first uh produced blocks or transactions on Bitcoin.
Um and and we've seen progression of that and we've seen Bitcoin's price be very correlated in. It's been a great success story and I think we're going to continue to see that be the case. But Jamie Diamond is also looking to evolve the monetary system using crypto and crypto is kind of we always highlight the ironic nature that it was initially intended to combat the uh system and instead the the technology is actually doing more to propagate it and I am not of the opinion everyone talks about we're going to have a debt collapse.
I actually am of the opposite opinion. I don't think they're going to allow debt to collapse because they couldn't. Why would they do why would they choose the disorderly route when they can choose the orderly route? they already have people subservient massively to central banks and governments and that's part of the control system.
But I actually think they're going to evolve it and they're going to use crypto to do that. And that's one of the reasons I'm so bullish on the cryptocurrency space. I mean, I truly truly am. I've never been so confident or bullish on crypto. This is Bitcoin versus TLT, which is the uh 20 year plus Treasury ETF offered by BlackRock.
You know, these treasuries are falling. the the the the falling of these treasuries or the downturn of these treasuries has already caused blowups in the banking sector and there are still pretty unbelievable losses in regards to unrealized gains within the banking sector and it all has to do with the bond market and the bonds are often used I mean bonds are used to sort of as reserves for most things but in regards to the FDIC they only actually ensure 1.28% 28% of um deposits essentially insured deposits.
So essentially what that equates to is for every dollar in the banking sector only 1 point something pennies 1.3 pennies of those dollars are actually insured and it's an accident waiting to happen. Will it happen? We'll see. But I think Jamie Diamond's comments really confirm why it is that we're in the cryptocurrency space.
And on the topic of crypto, you guys are all feeling we see in the comment section all the time. People are fed up. You know, it's quite lackluster. You know, summer has arrived. There's that old saying out there, selling may come back instantly just I don't think you particularly want to do that in my own opinion.
I'm not a financial adviser. Just what I'm personally not doing. However, sentiment is low. Interest is extremely low. But life's all about perspective. You know, I said this on a few videos ago. I know people that have had great lives that are miserable. I know people that have had bad lives that are happy.
Life's all about perspective. And actually, when people aren't interested in something that is as big as crypto is going to be, for me, that's an investment opportunity or that's a a major opportunity and you don't want to look a gift horse in the mouth. But as far as crypto goes, we're very much getting back to kind of um bare market lows in regards to interest.
That really excites me because I truly understand that there's a duality with this technology. There's an investment side of things and a technological side of things. And they both of course go hand in hand. And where crypto is at is still very much in its infancy. You know, Bitcoin is obviously a lot further than the rest of the space, but the rest of the space is going to play catch-up in a big way.
And that offers a major opportunity. And we always get the the the kind of when alt season comments. And we did this the other day. Bitcoin dominance in the last sort of market cycle went up or was in an uptrend for 1,085 days before alt season took place. We're not seeing anything out of the ordinary.
In fact, we're right on schedule. Um certainly Bitcoin dominance is going to roll and we're going to get that alt season um in the coming um you know weeks, potentially months towards the back end of the year perhaps. You know, you could see the story or the narrative of a bit of a lackluster summer into a a kind of explosive end of the year which assets typically do well in.
Um so the whole when all season or this time's different narrative is is simply a false one. We are going to get I believe a load of ETFs. Yesterday we looked at Rex's Salana staking and Ethereum ETFs that were likely going to pass. That would mean the first sort of altcoin ETF outside of Ethereum. However, the SEC has sent a letter to Rex last night saying it was concerned the SEC improperly uh filed.
Rex lawyers say they can work it out. Feels a bit like the uh PRIV situation. Um issuers pushing the envelope hard in efforts to get the first to market. And this is a Saturday scoop. Um, and it says, "The SEC said it's concerned the funds improperly filed their registration statement and that disclosures in the registration statement regarding the funds uh, status as investment companies may be potentially misleading.
uh we think uh we can satisfy the SEC on the investment company question and we don't intend to launch the fund until we do that said Greg Culllet who's the general um council at Rexfind there's so many reasons to be bullish on the cryptocurrency space um you know as far as Bitcoin's concerned we and we really focus on Bitcoin from a technical point of view just because it it's kind of like our debt market to the financial system if you will it's it's very much still the tie that rises sinks all ships I do see a future in the future where Bitcoin dominance actually comes down to the sort of 20% mark.
However, I think we're a while off, but Bitcoin, you know, it's got higher ground to to take. Um, it's sort of done what we said on the smaller time frames in regards to the falling wedge beautifully and now we're just looking for continuation in the broader trend, which is very clearly an up one. Um, but do not fear, all in crypto is here.
I appreciate the lack of nature of the space right now. However, life's all about perspective. With that comes a great opportunity. It's up to you guys whether you want to take part in that or not. But there has the reason I started on what I started on is because the the the the the accuracy of how accurate Bitcoin's been, the timely nature of it and and the state of the financial system now, it needs crypto from a technological point of view to evolve it.
Um and and we're talking about, you know, certain coins out there that I think are going to play a big role. Probably do a video on that later on today. But actually, more broadly than that, we need an alternative investment. money just doesn't disappear. Value just doesn't disappear. It goes elsewhere.
It's like water. It finds its level. And actually, crypto can offer that. And I think you're going to look at one of the largest wealth transfers of history as a result of that. And I think demographically, there's support for that in regards to a um aging population that has the bulk of money and the trickling down of that to a potentially cryptonative class.
And this asset class is still very much in its infancy. It's got a long journey to go on. Never forget that guys. We're going to keep you up to date every single day on that. and hold your hand through this entire journey like we have been doing. And on that note, I'm going to love and leave you. Enjoy your Sundays.
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