Latest / Simply Bitcoin / Did Big Banks Just DESTROY Bitcoin & Crypto in America?! | Simply Originals

Transcript

Did Big Banks Just DESTROY Bitcoin & Crypto in America?! | Simply Originals · Simply Bitcoin

0:00
Bitcoin just ripped above 97,000, cut bucks, 700 million
0:05
in shorts were obliterated. And while the price is
0:08
screaming, one thing Washington just showed you who really runs
0:13
this country. Because today the so-called
0:15
Bitcoin and crypto market structure bill didn't get
0:18
delayed, it got captured, killed and gutted.
0:22
Rewritten by the same banks that pay you 0.07% on your savings
0:28
while they quietly pocket 5% risk free on your money.
0:33
And if you think that's bad, wait until you hear who Trump is
0:36
reportedly considering to replace.
0:38
Jerome Powell, a BlackRock executive.
0:41
Let that sink in. The central bank replaced by the
0:44
largest asset manager on the plan.
0:46
Today's show explains why the bill collapsed, who actually
0:49
killed it, why Bitcoin and stablecoin yields terrified
0:53
banks, and how this same banking cartel has been pulling the
0:57
strings for over 100 years. This is in conspiracy, this is
1:01
history, and Bitcoin just broke their control.
1:05
That's right, we got a big 1 today.
1:12
Let's start with the scoreboard. Bitcoin just reclaimed 97 K, the
1:16
highest level since November. And in the last 24 hours alone,
1:20
700 million in levered shorts vaporized.
1:23
That's leverage getting wiped off the board while Congress is
1:26
tripping over itself. In short, Bitcoin doesn't care.
1:30
Today was supposed to be a big moment for Bitcoin and crypto in
1:33
America. Instead, the Senate Banking
1:35
Committee just pulled the vote. No markup, no progress.
1:39
Why? Well, because after reviewing
1:42
the final draft, Brian Armstrong pulled Coinbase's support.
1:46
And when the biggest regulated crypto exchange in America says
1:49
this bill is worse than doing nothing, well, that's a little
1:52
bit of A5 alarm fire. Armstrong didn't walk because
1:56
regulation is bad. He walked because the bill
1:58
wasn't regulation, it was protectionism.
2:01
Here's what was buried in the 278 page draft.
2:04
Tokenized equities effectively banned D5 treated like banks.
2:08
Full surveillance, FTC weakened, SEC empowered, stable coin yield
2:13
quietly strangled translation. Innovation gets boxed in and
2:17
banks get protected. Let me make this painfully
2:20
simple. Banks pay you checking 0.07%,
2:24
savings 0.39%. Meanwhile, Treasuries are
2:29
yielding almost 4% that difference.
2:32
That's all bank profit. If stable coins pass yield to
2:35
users, banks lose deposits. The Kansas City Fed found it
2:40
result 1.5 trillion in lending capacity disappears.
2:44
So what did the banks do? They didn't compete.
2:47
They legislated. 53 banking associations backed this bill,
2:51
not to protect consumers or innovation, but to protect 6.6
2:56
trillion in deposits. This wasn't quote UN quote
2:59
crypto clarity. This was Dodd Frank for digital
3:02
assets. If you can't win in the markets,
3:05
you win in Congress. Now let's zoom out because this
3:08
isn't happening in isolation. The banking cartel doesn't
3:12
retreat quietly, and we have some massive news regarding
3:15
Jerome Powell Trump looking at a BlackRock executive for Fed
3:19
chairman. What's coming in a little
3:21
history lesson you're not supposed to know, but let's go
3:24
ahead and start here. The Federal Reserve is not a
3:28
government institution created for public stability, but a
3:31
privately controlled banking cartel designed to consolidate
3:35
financial powers, socialize risk and enable long term wealth
3:39
transfer from the public to the elites.
3:42
And well, they've been pulling the strings for a very long
3:45
time. And here we go.
3:47
If you want a little history lesson, some good stuff, there's
3:50
a free PDF available online of this.
3:53
And if you turn to page nine, there is an interesting quote.
3:57
Quote. Give me control over a national
4:00
currency and I don't care who makes its laws.
4:02
Meyer Amshell Rothschild. Now if you've been watching this
4:06
show for a while, you know I've kind of told you for a while who
4:09
the real president is, and that's Big L Larry Stank.
4:15
So when you see what's going on, don't be surprised, Don't give
4:18
up. Double down because everything
4:20
is becoming too obvious for people not to notice.
4:24
Remember, there's a big club and we ain't in it and we have 0
4:28
desire to be. But while we're at it, let's go
4:31
ahead and get a little check in on Mar A Lago.
4:38
And the way you look. Sure, totally normal.
5:01
Just some weird satanic furry convention.
5:04
To each their own, I guess. Let's get back to business.
5:08
Jay Powell is in big trouble, and this is coming from Treasury
5:11
Secretary Scott Besson and US Attorney Jeanine Pirro.
5:15
Let's watch these clips. Then I got a little secret
5:17
history lesson for you on the origins of the Fed and how
5:20
BlackRock. But today, I'm the United States
5:24
Attorney for the District of Columbia, and with that job
5:28
comes a responsibility to investigate and prosecute
5:32
violations of federal crime in DC, along with DC code crime.
5:38
And my request in this case with the Federal Reserve was a legal
5:44
request. And the chairman of the Federal
5:46
Reserve, Powell, chose not to give a legal response.
5:49
Instead, he chose to politicize and publicize.
5:53
I did not politicize or publicize any of this.
5:57
I followed the federal rules. I investigate until I have
6:00
evidence, and if and when I do, then I go forward with a public
6:05
statement. Now, what are we talking about?
6:08
We're talking about a billion dollars in cost overruns.
6:12
Talk about fiscal irresponsibility.
6:15
Talk about bureaucratic bloat. We're not talking about
6:18
1,000,010 million, 100 million. We're talking about a billion
6:23
dollar in cost overruns in DC and something that is purely in
6:29
my lane as the United States Attorney to investigate as well
6:33
as lying before Congress. So both of these things are, are
6:38
issues that I looked at. And on December 19th, we started
6:42
the investigation. In November, on December 19th,
6:46
we sent a letter, an e-mail, and we said we'd like to talk to
6:49
people at the Federal Reserve. Give us a call.
6:52
No response for 10 days. December 29th, please give us a
6:56
call. We'd like to talk to you.
6:58
We'd like to speak to you. No response for 10 days.
7:02
We want to meet them the first week of January.
7:04
No response. So then we did what any normal
7:07
prosecutor would do and we issued legal process.
7:10
I'm not saying that he's saying that.
7:13
So does the Federal Reserve Chairman Powell respond to that?
7:18
No. What he does is he issues a
7:20
video. He claims that he's being
7:22
threatened, threatened with a criminal indictment, threatened
7:26
that the independence of the Fed is under attack, which couldn't
7:30
be further from the truth. Now, normally what people do is
7:33
they pick up the phone, they call you, they say, yeah, let's
7:35
talk about it. But if they had responded, I
7:39
wouldn't be sitting here right now.
7:41
And he's using this language about the independence of the
7:45
Federal Reserve as some kind of ability for them to ignore any
7:54
kind of legal oversight or legal scrutiny or that would require
8:00
us not to investigate potential lying before Congress.
8:04
That's not how we work. No one is above the law.
8:08
And So what we've got now is a case that, you know, the
8:12
chairman is very, he's objecting to and I can't tell if the
8:17
claims are out of control or whether they're true.
8:21
You know, if they're cost overruns.
8:23
Is it the contract? Is it the subcontractors, The
8:26
contractors? Is it normal and lying to
8:31
Congress? Did he know about it?
8:32
Did he know about the numbers? Did he not know about it?
8:35
I do an investigation and I do it quietly until I get to the
8:39
point where I can say something. But the chairman says, no, no,
8:45
you're attacking the independence of the Federal
8:47
Reserve. That's not what we're doing.
8:50
We're doing our job. And I think the sad part about
8:53
this is no one is above the law, nor should anyone think that
8:57
they have the right to be above the law, Sean.
9:00
And I'm curious, to those who claim, Oh, my gosh, this is a
9:03
terrible thing, even in our own party, what do you suggest?
9:07
Are there certain people that you cannot investigate?
9:10
Are there certain people that we look the other way and throw
9:13
complaints in the drawer? That's not the America that I
9:17
grew up in, Shawn. Just to be clear, judge you, you
9:19
gave them an opportunity to just talk to you and say what's going
9:22
on here? Why are these massive cost
9:24
overruns? They didn't get back to you.
9:25
That's what happened. He didn't respond, instead he
9:28
comes out with his crazy video. If you write me one time and I
9:32
don't respond, I'm dead. So I you know, it would have
9:34
been smart if they just responded.
9:36
They didn't have to conversation with you.
9:37
The Federal Reserve occupies a unique spot the in the American
9:43
governmental process. They had.
9:46
They have no supervision, they have no accountability.
9:50
And, you know, I, I think that we will look at this and think
9:55
that a couple couple of things on Chair Powell's watch, the the
9:59
Fed is now losing $100 billion a year, $100 billion, you know,
10:04
with with no accountability. Yeah, we had the worst inflation
10:08
in 49 years and we we'll see what the Italians up being, but
10:14
got it very good chance that we will have had ethics violations
10:17
over the past four to four, four to six of the regional
10:22
presidents or governors and there needs to be some
10:26
accountability. So it's an investigation.
10:29
We'll leave. It at that massive stuff.
10:31
This has never happened, this war on the Fed has never
10:35
happened and we see Rick Reader likely being the next chairman,
10:39
Eyes wide shut at more a Lago and people lose their minds.
10:42
Don't. They're showing you who they
10:44
are, Let them, but do not eat the cake.
10:47
Throw that shit in the trash. We don't need institutions.
10:50
We don't need yield. We don't need politicians
10:53
though, there's a few good guys still kicking around and at the
10:56
end of the day, big bad bankers. No, they can't with Bitcoin AP.
11:01
Morgan is allowing. Clients to pledge Bitcoin and.
11:03
Ether as collateral. For.
11:04
Loans. Leslie Picker is joining us.
11:06
Now with. Details.
11:07
Hi, Leslie. Hey, I'm Morgan Guy and chatting
11:09
with sources familiar with the matter.
11:11
I'm told it's still early days and from now the concept is
11:15
limited to the firm's trading business.
11:17
JP Morgan's trading business has for a few months now accepted.
11:20
I bid the ETF as a form of collateral, which it sees as
11:24
less volatile as the underlying currency.
11:27
However, however, I'm told that certain hedge fund managers and
11:29
asset managers are demanding more of these types of crypto
11:33
services. Although again, I'm told that
11:35
offering Bitcoin and ether is collateral for trading is not
11:39
imminent at the firm. While many remember, as you
11:42
mentioned, Morgan, Jamie Dimon's comments about Bitcoin being say
11:46
a pet rock, he has moderated his tone recently.
11:49
Now we. Have a little history lesson to
11:51
go through, but before we do, look at our likes 3-4 times.
11:54
Maybe I pump those numbers up. Those are rookie numbers in this
11:57
racket. Let's take a moment to recognize
12:00
our sponsors powering this show over at The Bitcoin Way.
12:03
At The Bitcoin Way, they'll walk you through all things Bitcoin
12:05
like it's kindergarten with Satoshi.
12:07
From setting up your first wallet to running your first
12:10
node and so much more. No tech skills needed, The
12:13
Bitcoin Way has got you covered. You want $1,000,000 Bitcoin?
12:17
Better act like it. Self custody is not optional.
12:20
That is the revolution. Schedule a free 30 minute
12:22
consultation with The Bitcoin Way today using that link in the
12:26
show notes. Today's show is brought to you
12:28
by leaden. If you ever need cash without
12:30
selling your Bitcoin, leaden makes that possible.
12:33
The global leader in Bitcoin backed lending, leaden has
12:36
issued over 9 billion in loans since 2018 and they have a
12:40
perfect record of protecting client assets.
12:43
No credit checks, funds in less than six hours, no monthly
12:46
payments. Repay whenever you want with 0
12:49
penalties and group of reserves. Reports verified by a top
12:54
accounting firm are published every six months.
12:56
Leaden gives Bitcoin holders a secure, transparent way to
12:59
unlock liquidity without selling.
13:01
Learn more at learn dot leaden dot IO.
13:04
Simply, that's learn dot leaden dot IO slash Simply, let's go
13:10
ahead and end with a history lesson you were never supposed
13:13
to hear. The Warburg brothers, Paul
13:15
Warburg and Max Warburg, we're not just random German bankers
13:18
who showed up in America in the early 1900s.
13:21
Their family lineage goes back over 500 years.
13:24
Originally known as Del Banco, one of the most powerful banking
13:28
families in the 1500s in Venice, when Venetian finance collapsed
13:32
and Selma, del Banco was the last banker standing.
13:36
Same bloodline, same capital, just new names and new cities.
13:40
They moved quietly as power shifted Venice to Bologna,
13:44
Warburg, Hamburg, NY, London. Power doesn't disappear, it just
13:49
relocates. The Warburg's didn't just enter
13:52
American finance, they married into it all.
13:54
Warburg married into the Loeb family.
13:57
Felix Warburg married into the Schiff family.
14:00
Both families funded Kun Lob and Company, one of the most
14:04
influential banks in U.S. history.
14:06
Jacob Schiff, Felix's father-in-law, personally
14:08
financed half of Japan's war budget during the Russo Japanese
14:12
war. One banker, one war.
14:14
That's the scale of influence we're talking about.
14:18
In 1910, Paul Warburg attended the secret Jekyll Island meeting
14:22
where representatives of JP Morgan, Rockefeller and the US
14:25
Treasury designed what would become the Federal Reserve.
14:28
The plan was kept secret for years because they knew the
14:31
truth. If Americans understood who
14:34
designed the system, it would never pass.
14:37
During World War 2, Max Warburg's son Eric Warburg
14:41
worked with the OSS, the precursor to the CIA, alongside
14:45
Prescott Bush and George HW Bush, helping cede what became
14:50
Warburg Pincus, one of the most powerful private equity firms on
14:54
earth. Fast forward to today.
14:56
Warburg Pincus manages over 100 billion.
14:58
Their former London bank was absorbed into UBS, now managing
15:03
trillions. The dynasty never left.
15:05
It just went quiet. Now get this.
15:08
The current chairman of Warburg Pincus is Timothy Geithner, the
15:11
same Treasury Secretary who handed no bid bailout contracts
15:15
to BlackRock during the 2008 financial crisis.
15:18
Under TARP, the regulator deciding where trillions of
15:21
public dollars go. Later, chairs of fund tied to
15:25
the same banking dynasty. That's why elections feel like a
15:29
sideshow. Governments rotate every four
15:32
years. The system has lasted centuries.
15:35
And now when you hear that Rick Reader could be next in line to
15:38
chair the Fed, understand this clearly.
15:41
He isn't an anomaly. He's just the latest iteration.
15:45
Different names, same network, same game.
15:48
And this is exactly why Bitcoin exists.
15:52
And also when these people say they're not passing the bill and
15:55
protecting the banks, well, let me show you why that's all
15:58
bullshit. Because what the president
16:00
wants, the president gets. I would say the biggest question
16:04
from central banks is what is the role of tokenization and
16:07
digitization? How quickly should they think
16:10
about digitizing their own currency?
16:12
What does that mean for the role of the dollar if every currency
16:15
digitizes and we haven't, you know, what does that mean for
16:19
bank payments? What does that mean for the, for
16:22
the payment companies like MasterCard and Visa?
16:25
All these are being questioned right now.
16:28
I will make you know, we, I think we spend so much time
16:30
talking about AAI. We're not spending enough time
16:33
talking about what how quickly we're going to tokenize every
16:36
financial asset and the opportunity we're going to have
16:39
to have a digital wallet and moving you know ETFs and other
16:44
things through a digital wallet. And I think that's going to
16:47
happen worldwide very rapidly. And I think most countries are
16:52
ill prepared for that and under appreciate how technology is
16:56
changing that, not not unlike how technology is changing AI
17:01
and other things. It will be changing of the
17:04
technology around the plumbing of finance.
17:08
Bitcoin doesn't need yield, it's the apex predator and these
17:11
people want you in their walled dystopian garden to keep you
17:15
poor and compliant and we're not going to let that happen.
17:18
Bitcoins moment is here and it's the only way to protect yourself
17:22
from these wolves and sheep's clothing.
17:25
That's why I wanted custody, my own digital assets.
17:29
Let me tell you what happened to me.
17:31
You know this story. My husband and I, when he was
17:34
still alive and we had joint bank accounts, was moving our
17:39
accounts from one bank to another.
17:42
During that same week, I was off campaigning elsewhere in
17:45
Wyoming. So he moved our accounts.
17:48
He signed the accounts but I was away and so I my signature
17:54
wasn't on him yet. He died suddenly in the middle
17:57
of the night of a massive heart attack and my name was not on
18:02
any of our account during all that moving.
18:05
He had also moved his will so I couldn't find it, so I couldn't
18:11
get letters testamentary so I could be the executor of his
18:15
estate. And it was, it was scary and
18:19
unnerving because I didn't have access to my own money.
18:24
And when someone else is custodying your money, they you
18:30
have an IOU, but you don't have that immediate access to your
18:34
own money. So that really frightening
18:37
experience for me also led me to look for ways that I could self
18:45
custody that was safer than putting cash under a mattress,
18:50
but still provided me that kind of access and I found it in
18:55
Bitcoin. And so I'm a big proponent of
19:00
self custody, of individual wallets, of the sovereignty that
19:05
I have to store my wealth the way I choose and not the way the
19:11
government chooses. Center of gravity of the
19:14
financial universe of the 21st century emerging is Bitcoin.
19:19
I see a world where there are many types of assets, but the
19:22
king apex asset, the root asset, which everything else is settled
19:27
on or everything else is, is oriented to the center of
19:33
gravity of the financial universe of the 21st century.
19:36
Emerging is Bitcoin. Just like sorry, that falls
19:45
toward the center of gravity, which is the middle of the
19:48
Earth. And none of you have been there.
19:52
That doesn't mean that it doesn't control everybody,
19:56
right? Everything will be oriented in a
19:58
frame of reference. They want you in a walled
20:02
garden, low yield, high control, permanent dependence.
20:06
Bitcoin is the opposite. Open, neutral, relentless.
20:09
The center of gravity of the 21st century financial system is
20:13
shifting. And no bill, no cartel, no
20:16
central banker, no politician can stop it.
20:20
Bitcoins moment is here and the possibility of World War 3 is
20:24
higher than ever, which is probably a good time to visit
20:27
our new sponsor set 123. Because when cell service dies,
20:32
life doesn't have to. SAT 123 hooks you up with real
20:35
satellite phones, Starlink kits and rugged off grid Internet
20:39
that works anywhere. Mountains, ocean, middle of
20:41
nowhere, it doesn't matter. If you care about preparedness,
20:44
freedom and staying connected when it actually counts, go to
20:48
SAT 123 dot comthatssat123.com and don't forget to use promo
20:53
code simply for 15% off no signal no problem.
20:57
Hope you guys enjoyed this one. If you did, don't forget to like
21:00
subscribe and give us a by sharing the sound money Gospel,
21:04
Dante, Sophie, oceans all have some great stuff coming your
21:07
way. So set those notifications and
21:09
stay tuned. I hope you all have a great
21:10
weekend. I'll catch you next time love
21:12
you guys. If you prefer to go down with
21:15
the ship.