Latest / The Paul Barron Crypto Show / Trump Just NUKED Banks Over Stablecoin Yields!!!🔥FINALLY! 🚨CLARITY Incoming

Transcript

Trump Just NUKED Banks Over Stablecoin Yields!!!🔥FINALLY! 🚨CLARITY Incoming · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Trump has moved in position and now has scorched earth
• 0:02
  Speaker 1: on the banks. Today will break it down why the
• 0:04
  Speaker 1: pivot all of this is going to happen, and we'll
• 0:07
  Speaker 1: get into it. I do want to thank our sponsor
• 0:09
  Speaker 1: today and that is BTCC. This is where you guys
• 0:11
  Speaker 1: can get into trades and the volatility of the market
• 0:15
  Speaker 1: always makes room for profits. So you guys, of course
• 0:17
  Speaker 1: and check it out just by using our link down below.
• 0:20
  Speaker 1: Get ten percent bonus on your first time deposit trade
• 0:24
  Speaker 1: over there, and get some benefits over there as well,
• 0:27
  Speaker 1: including discount on your trading fees and a whole slew
• 0:30
  Speaker 1: of other benefits stacked right there just by using our links.
• 0:33
  Speaker 1: So get into it. Let's go over to what we
• 0:35
  Speaker 1: covered yesterday, which was it was of course, all about
• 0:38
  Speaker 1: Jamie Diamond's statement you will pay and I think this
• 0:42
  Speaker 1: started to get Trump a little bit irk. So what
• 0:45
  Speaker 1: comes next, Well, this is what came next. The genius
• 0:47
  Speaker 1: stack is being threatened and undermined by the banks. That's unacceptable.
• 0:51
  Speaker 1: We're not going to allow it. The US needs to
• 0:54
  Speaker 1: get market structure done asap. American sure to earn more
• 0:58
  Speaker 1: money on their money at the banks are hitting record
• 1:00
  Speaker 1: profits We are not going to allow them to undermine
• 1:03
  Speaker 1: our powerful crypto agenda that will end up going to
• 1:06
  Speaker 1: China and of course other countries if we don't get
• 1:09
  Speaker 1: the Clarity Act taken care of. The Genius Act was
• 1:12
  Speaker 1: the USA's first big step to make the United States
• 1:15
  Speaker 1: the crypto capital of the world, and getting the Clarity
• 1:18
  Speaker 1: Act done is the next step to finish the job
• 1:21
  Speaker 1: and most importantly, keep this big, powerful industry in our country.
• 1:26
  Speaker 1: The Bank should not be trying to undercut the Genius
• 1:28
  Speaker 1: Act or hold the Clarity Act hostage. They need to
• 1:32
  Speaker 1: make a good deal with the crypto industry because that's
• 1:35
  Speaker 1: what's in the best interest of the American people. This
• 1:38
  Speaker 1: industry cannot be taken from the people of America when
• 1:41
  Speaker 1: it is so close to becoming truly successful. Thank you
• 1:44
  Speaker 1: for your attention to this matter. Following that we saw
• 1:48
  Speaker 1: everyone coming in hot Garling House comes in an extremely
• 1:52
  Speaker 1: pointed message from Potus to those who are dragging their
• 1:55
  Speaker 1: feet on Clarity, pointed right at the banks. Sachs comes
• 1:59
  Speaker 1: in reach tweets rapid response, this, of course is the
• 2:02
  Speaker 1: cryptos are then you have Eric Trump. They are the
• 2:06
  Speaker 1: greatest hypocrites and are in mass panic, given they know
• 2:09
  Speaker 1: they are losing the digital finance race. Further into that,
• 2:13
  Speaker 1: you have Patrick Witt, which did something very unique. He
• 2:17
  Speaker 1: said the word deceit, deceit. The deceit here is that
• 2:23
  Speaker 1: it is not the paying of yield on a balance
• 2:26
  Speaker 1: per se that necessitates bank like regulations, but rather the
• 2:30
  Speaker 1: lending out or rehypothication of the dollars. Basically, we're talking
• 2:34
  Speaker 1: about fractional reserve banking versus what we're dealing with with
• 2:37
  Speaker 1: stable corn reserves. The ways frame this the negotiations are over,
• 2:42
  Speaker 1: you can't use that term calling someone basically they are lying.
• 2:47
  Speaker 1: You can't use that term if this deal is not
• 2:49
  Speaker 1: already done. And if it's not done, it puts an
• 2:52
  Speaker 1: unbelievable amount of pressure on the banks to get this
• 2:55
  Speaker 1: thing through the ABA. I don't know how they are
• 2:58
  Speaker 1: going to spend from this, but this was a big,
• 3:02
  Speaker 1: big drop in the market for sure. Be a lawman
• 3:05
  Speaker 1: came out and of course hits on Jamie Diamond's claim
• 3:08
  Speaker 1: that stable coin issuers don't have to comply with KYCAML.
• 3:11
  Speaker 1: That's obviously false. Diamond has never been really pushed to
• 3:15
  Speaker 1: the max like this now the industry. I think he
• 3:18
  Speaker 1: kind of ran into a bus sall with the crypto industry.
• 3:21
  Speaker 1: But more importantly, I think he ran into a bus
• 3:22
  Speaker 1: sall with where the administration truly is going to go,
• 3:26
  Speaker 1: and this has kind of put a lot of pressure
• 3:28
  Speaker 1: on him. In this right here, you had Mike Belshie
• 3:31
  Speaker 1: also jumping in on that. Let me zoom in on
• 3:32
  Speaker 1: that one. We did become a bank, and we all
• 3:35
  Speaker 1: have the same requirements that Diamond lists. In addition to that,
• 3:39
  Speaker 1: we have better liquidity than any bank, even better than
• 3:41
  Speaker 1: JPM because we hold one hundred percent in reserve. Remember,
• 3:45
  Speaker 1: if you're buying a stable coin, it's getting a one
• 3:48
  Speaker 1: to one US Treasury. It's just that simple. If you
• 3:52
  Speaker 1: go in and deposit a dollar in a bank, it
• 3:54
  Speaker 1: is fractional reserve. Banking simply means they can take that
• 3:57
  Speaker 1: dollar and lend it out nine times. That's the difference
• 4:00
  Speaker 1: that you see. And I think this will continue to
• 4:02
  Speaker 1: put a lot of pressure on the banks. But the
• 4:04
  Speaker 1: real question is is there going to be a flight
• 4:06
  Speaker 1: of capital. We're going to answer that in a second.
• 4:08
  Speaker 1: But this right here was a bit surprising. The Clarity
• 4:11
  Speaker 1: Act getting signed came up to seventy six and we're
• 4:15
  Speaker 1: right there. It was almost eighty percent right there. I
• 4:18
  Speaker 1: think this is wrong. I think we are going to
• 4:20
  Speaker 1: see this much higher in the coming days. So get ready.
• 4:24
  Speaker 1: I think you may see a plus eighty coming in
• 4:26
  Speaker 1: very soon overall polymarket. All right, So let's go back
• 4:29
  Speaker 1: to the statement real quick. I'm going to bring this up.
• 4:32
  Speaker 1: And if you'll notice here there's something very odd that's
• 4:37
  Speaker 1: missing here. The missing component is Biden's name. It wasn't
• 4:43
  Speaker 1: even used, nor were the Democrats even used. He's going
• 4:46
  Speaker 1: after or his team is going after a bipartisan approach
• 4:51
  Speaker 1: because they now have to go head to head with
• 4:54
  Speaker 1: one of the strongest, if not the strongest lobbies out
• 4:57
  Speaker 1: there in the ABA is a good example right here
• 5:01
  Speaker 1: the Milkin Institute Future Finance event. Some execs were betting
• 5:04
  Speaker 1: that President Trump wouldn't pick Aside, but not going to happen. Well,
• 5:08
  Speaker 1: they obviously spoke too soon there. Eleanor hits on this.
• 5:11
  Speaker 1: A group from Coinbase, including CEO Brian Armstrong, visited the
• 5:14
  Speaker 1: White House today. If this did occur, that is a
• 5:17
  Speaker 1: pretty big statement as well. I think it was probably
• 5:20
  Speaker 1: more in line with just validating the position of where
• 5:23
  Speaker 1: the industry is right now. Charles Hoskinson has been on
• 5:26
  Speaker 1: the flip side of where Trump has been and the administration.
• 5:30
  Speaker 1: But all of a sudden we get a pivot. Now
• 5:32
  Speaker 1: he's agreeing with the president. He's going in and actually
• 5:35
  Speaker 1: backing the bill now, So from not backing the bill
• 5:39
  Speaker 1: those terrible bill is a bad bill, to backing the
• 5:41
  Speaker 1: bill all of a sudden now that the Trump administration
• 5:45
  Speaker 1: is behind this bill one hundred percent. An interesting statement
• 5:49
  Speaker 1: from french Hill right here. The Treasury rulemaking could also
• 5:52
  Speaker 1: resolve this issue. That's interesting because that of course layers
• 5:56
  Speaker 1: right into Scott Bessant and his control going forward. Here,
• 6:00
  Speaker 1: of course, was new news around DeFi. This is an
• 6:03
  Speaker 1: Amanda tuminality with the DeFi Education Fund. She's talking about
• 6:06
  Speaker 1: the court case that was won by Unit swap. This
• 6:09
  Speaker 1: of course clears the way for DeFi to not be
• 6:12
  Speaker 1: held liable when bad actors do bad things with software
• 6:17
  Speaker 1: and code. So that is a big deal because it
• 6:19
  Speaker 1: does clear up the DeFi position and could be even
• 6:22
  Speaker 1: an opportunity where DeFi could be protected outside the CLARITIAC.
• 6:25
  Speaker 1: So good good stuff there going forward, and a lot
• 6:28
  Speaker 1: of good news here. Heyn Adams even tweeted on this.
• 6:30
  Speaker 1: If you write open source smart contract code code is
• 6:33
  Speaker 1: used by scammers, the scammers are liable, not the open
• 6:35
  Speaker 1: source and devs. And he's talking about the win that
• 6:38
  Speaker 1: the federal court gave them. Other points right here, US
• 6:41
  Speaker 1: banks are now getting on high alert after cyber attacks around.
• 6:46
  Speaker 1: US Intelligence assessment warns of Iraning attacks on a lot
• 6:51
  Speaker 1: of these banks. Banks that may be affected. Right there,
• 6:53
  Speaker 1: JP Morgan Chase, Bank of America citygre looks like the
• 6:56
  Speaker 1: line list there, guys who have been worried about a
• 6:58
  Speaker 1: flight of deposits. The flight of deposits may come from
• 7:02
  Speaker 1: areas around this. You go all the way back here
• 7:05
  Speaker 1: to a poll that was done in twenty twenty three,
• 7:08
  Speaker 1: which we're already moderately worried, and that's a big deal.
• 7:13
  Speaker 1: Very worried, not and moderately worried make up almost fifty
• 7:16
  Speaker 1: percent here in terms of Americans worried about money and banks. Now,
• 7:20
  Speaker 1: I want to go to a clip real quick because
• 7:22
  Speaker 1: this gets into some interesting areas. Because Iran targeting banks
• 7:26
  Speaker 1: is a big deal. Take a look. War in Iran
• 7:29
  Speaker 1: is sparking cybersecurity concerns.
• 7:31
  Speaker 2: Here in the US, our critical infstructure is quite vulnerable
• 7:34
  Speaker 2: you look for outdated systems. After Operation Midnight Hammer last year,
• 7:38
  Speaker 2: designed to obliterate Iranian nuclear capabilities, ty Ran backed hackers
• 7:42
  Speaker 2: targeted US banks.
• 7:43
  Speaker 1: Former Deputy director of the FBI's Cyberdivision, Cynthia Kaiser, Cynthia,
• 7:47
  Speaker 1: thank you.
• 7:48
  Speaker 3: What we've now seen is over the past few years,
• 7:50
  Speaker 3: Iran has gained access to at least parts of organizations
• 7:55
  Speaker 3: across all US critical infrastructure sectors.
• 8:00
  Speaker 4: New AI weapons.
• 8:02
  Speaker 5: Of course, it can beat addition upon our ability.
• 8:06
  Speaker 6: As the agency tasks was securing critical infrastructure.
• 8:09
  Speaker 2: From such threats, faces cuts to the department, a partial
• 8:12
  Speaker 2: government shutdown.
• 8:13
  Speaker 6: We're tracking groups associated with the Revolutionary Guard Corps and
• 8:17
  Speaker 6: with the Ministry of Intelligence, and those groups have gone silent.
• 8:21
  Speaker 2: You know, Amazon is saying that we have much less
• 8:24
  Speaker 2: capability to do most of our services right now in
• 8:26
  Speaker 2: this area because of three drone strikes two and like
• 8:28
  Speaker 2: you said, two two a Newa and one indirect one
• 8:31
  Speaker 2: in Bahrain. And they say service is not going to
• 8:33
  Speaker 2: fully restore for a very long time. And that's just
• 8:35
  Speaker 2: the beginning of this.
• 8:36
  Speaker 4: Yeah.
• 8:36
  Speaker 6: Yeah.
• 8:37
  Speaker 2: As of now, hackers linked to a run have made
• 8:39
  Speaker 2: threats on social media, but so far not any confirmed
• 8:42
  Speaker 2: major cyber attacks.
• 8:44
  Speaker 1: Speaking of the Iranian cyber attacks, you look at some
• 8:48
  Speaker 1: of the budgets that were spent out there, one of course,
• 8:50
  Speaker 1: was the ice budget. This was the explosion in that
• 8:52
  Speaker 1: maybe we should have been going in the direction of
• 8:54
  Speaker 1: cyber warfare and basically shoring up there. This is a
• 8:58
  Speaker 1: clip that breaks down what's happen happening there? Could this
• 9:01
  Speaker 1: get into the clarity? Listen up?
• 9:03
  Speaker 5: The Strategy Group got most of the money, and Senator
• 9:06
  Speaker 5: I did not have anything to do with picking those contractors.
• 9:10
  Speaker 6: The head of that is married to your former spokesperson.
• 9:14
  Speaker 5: I'm quarter of a billion dollars taxpayer money. Are you
• 9:19
  Speaker 5: still running those ends? I think the ads are due
• 9:22
  Speaker 5: to end here in March. I think within a week
• 9:24
  Speaker 5: till I'm not sure.
• 9:25
  Speaker 4: Could you explain this?
• 9:27
  Speaker 5: An interior looks like a bedroom of an airplane, if
• 9:30
  Speaker 5: you're referring to the airplanes that the Department of Homeland
• 9:33
  Speaker 5: Security has purchased and are purchasing. We spent one point
• 9:38
  Speaker 5: for set four to two billion dollars. Last better a minute,
• 9:42
  Speaker 5: I believe it's being refurbished.
• 9:44
  Speaker 4: What kind of deportee justifies being flown out of the
• 9:47
  Speaker 4: country in a luxury jet with a bedroom and accommodation.
• 9:50
  Speaker 4: Senior administration officials have described these airplane purchases as the
• 9:54
  Speaker 4: world's worst deal, and.
• 9:56
  Speaker 6: What we've seen is a disaster under your late ship, Misnome.
• 10:01
  Speaker 6: You have a policy right now that anything over one
• 10:04
  Speaker 6: hundred thousand dollars has to go through your desk for approval.
• 10:07
  Speaker 6: This is what incompetent female leadership looks like. And people
• 10:10
  Speaker 6: are hurting.
• 10:11
  Speaker 5: Senator no I have a lot to go.
• 10:14
  Speaker 6: I don't want an applause if I don't get an
• 10:16
  Speaker 6: answer that you've had a month to respond to. As
• 10:18
  Speaker 6: of today, I'll be informing leadership that I'm putting a
• 10:21
  Speaker 6: hold on any on block nominations and in two weeks
• 10:25
  Speaker 6: if I don't get a response, I'm going to deny
• 10:27
  Speaker 6: quorum and mark up in as many committees as I
• 10:29
  Speaker 6: can until I get a response. Thank you, mister chair.
• 10:32
  Speaker 1: All right, So that was Tom Tillis. He is absolutely pissed.
• 10:36
  Speaker 1: But remember this guy sets over here on the Banking
• 10:40
  Speaker 1: and Housing and Urban Affairs Committee right there. He is
• 10:44
  Speaker 1: Tom Tillis, Republican, North Carolina, and he would hold this
• 10:47
  Speaker 1: up if he doesn't get the answers from no Nome.
• 10:50
  Speaker 1: Is on the hot I think NOME gets injected here
• 10:53
  Speaker 1: to alleviate the issue that Tom Tillis could be really
• 10:57
  Speaker 1: enforcing maybe right through clarity, which is already been pushed
• 11:01
  Speaker 1: in by the White House as saying they want this through.
• 11:03
  Speaker 1: So huge implications on the market right now, Huge implications
• 11:07
  Speaker 1: I think as we play out into the week with
• 11:09
  Speaker 1: bitcoin starting to move very aggressively. So we'll get you
• 11:13
  Speaker 1: guys more stuff as it continues to drop. If you
• 11:22
  Speaker 1: like this video, like and subscribe, drop a comment down below,
• 11:25
  Speaker 1: and also join our free private member group. The link
• 11:29
  Speaker 1: is in the description.