Latest / The Paul Barron Crypto Show / Trump Lashes Out at Senate Delays🔥CLARITY Act Out of Time!?🔥

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Trump Lashes Out at Senate Delays🔥CLARITY Act Out of Time!?🔥 · The Paul Barron Crypto Show

• 0:00
  Speaker 1: The biggest threat to clarity, of course, lies in Senator
• 0:03
  Speaker 1: John Thune. Today, we're going to break that down because
• 0:05
  Speaker 1: there is a lot that could be looming very quickly.
• 0:09
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  Speaker 1: guys are not want to go to miss this one.
• 1:03
  Speaker 1: It is an awesome one. Let's just get right into it.
• 1:05
  Speaker 1: I want to look at the days right now, guys.
• 1:08
  Speaker 1: This is what we have available left to get this done.
• 1:11
  Speaker 1: Thirteen days and some of those are you know, they're
• 1:13
  Speaker 1: not going to be in of course, Congress during that.
• 1:17
  Speaker 1: So this continues to put a lot of pressure on
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  Speaker 1: the market right now. Literally as we're recording it is
• 1:23
  Speaker 1: dumped down to thirty two, so it's literally minute by
• 1:26
  Speaker 1: minute with new information almost every hour. We're starting to
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  Speaker 1: see something happening from one Senator to the next. And
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  Speaker 1: of course this all boils down to a handful of
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  Speaker 1: things that are going on within the Democrats and also
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  Speaker 1: the Republicans for that matter. This of course goes into
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  Speaker 1: Reuben Gegos. This is a Democrat who has been on
• 1:48
  Speaker 1: the fence. They got it through the Senate when it
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  Speaker 1: came out of committee, but he has been on the
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  Speaker 1: fence of being able to make.
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  Speaker 2: This a yes vote.
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  Speaker 1: And as you can see, their statements are whatever piece
• 1:59
  Speaker 1: of you know what Republicans sent back to us. It
• 2:02
  Speaker 1: was not a serious effort. However, he left the door
• 2:04
  Speaker 1: open with that last stament. Gego also said they're going
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  Speaker 1: to send back a counter proposal before the bill reaches
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  Speaker 1: the Senate floor. Now that's a very key statement because
• 2:14
  Speaker 1: that means it's going to the Senate floor. So the
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  Speaker 1: likelihood is what does this thing look like when it
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  Speaker 1: actually does go to the Senate floor. Other points, if
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  Speaker 1: you look at this right here, this of course is
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  Speaker 1: a majority leader Thun saying that the Claritia Act won't
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  Speaker 1: likely pass the Senate before August. Now, granted, that's going
• 2:34
  Speaker 1: to be the case because of the timing, And I'll
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  Speaker 1: show you that because really early August is kind of
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  Speaker 1: the window that may open up here, and he goes
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  Speaker 1: on and he says, I would like to get at
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  Speaker 1: least clarity started. So they are in the process to.
• 2:47
  Speaker 2: See where the votes are.
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  Speaker 1: So they're probably going to float this new context of
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  Speaker 1: language coming in from the Democrats that well, of course
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  Speaker 1: we'll play into this.
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  Speaker 2: Now.
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  Speaker 1: I want to go to a clip here because this
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  Speaker 1: will get into a President Trump up is trying to
• 3:01
  Speaker 1: do to navigate some of this. Remember, he's putting pressure
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  Speaker 1: on now the Congress to kind of get the job done.
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  Speaker 3: Take a look, Mike Johnson and Congress have done a
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  Speaker 3: great job, but we're having a hard time in the Senate.
• 3:15
  Speaker 3: The Senate, what they're doing is just it's just not right.
• 3:20
  Speaker 3: It's like the Senate is a place that you send
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  Speaker 3: things when you want them to die. We can't do
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  Speaker 3: this and we're not going to take this any longer.
• 3:27
  Speaker 3: Trying to be really nice, Look, what would they should do?
• 3:30
  Speaker 3: Very simple, A lot of you don't know about philibus.
• 3:32
  Speaker 3: They should terminate the philibuster to prove everything because you're
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  Speaker 3: going to have a stoppage. And I'm not a big crier.
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  Speaker 3: I don't think you want to see me cry. You know,
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  Speaker 3: everybody called John Thune at the Senate he's the leader
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  Speaker 3: of the Republican Party, and tell him to get this
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  Speaker 3: stuff approved.
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  Speaker 2: All right?
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  Speaker 1: And to Trump's point, he is talking about the guy
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  Speaker 1: who literally does get these votes. He's the guy that's
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  Speaker 1: going out trying to make the compromises work. So when
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  Speaker 1: you look at this article, this kind of goes on
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  Speaker 1: the back and forth between Thoon and of course the President,
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  Speaker 1: and he of course puts it right back into the
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  Speaker 1: White House, which is ironic. White House should get on
• 4:15
  Speaker 1: the phone locking the votes, Nita, instead of pointing fingers,
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  Speaker 1: I think really the reality is that's your job. That's
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  Speaker 1: what Congress is set for, that's what a leader is
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  Speaker 1: designed to do. The White House isn't in the lawmaking business,
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  Speaker 1: of course, and I think that's the issue that we're
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  Speaker 1: facing right now. Further into this is Patrick Witt. Now,
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  Speaker 1: Patrick Witt is in a position.
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  Speaker 2: Where he's talking.
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  Speaker 1: Remember he's talking to a lot of different lawmakers right now,
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  Speaker 1: so he's getting a little bit different print, and I
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  Speaker 1: think read from where.
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  Speaker 2: The market really is. Listen to what he said on this.
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  Speaker 4: A bit perplexed by Leader Thun's comments there, but you know,
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  Speaker 4: we are still very confident that this will move forward
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  Speaker 4: for a vote. I guess technically he is actually correct
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  Speaker 4: that this would not pass the Senate floor before August,
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  Speaker 4: the calendar month. If he's talking about the Senate recess,
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  Speaker 4: there's that first week of August that the Senate is
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  Speaker 4: in session, so I wouldn't count it out. Perhaps he's
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  Speaker 4: hearing from some folks that maybe he's not as optimistic.
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  Speaker 4: I'm having a lot of conversations on my own, and
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  Speaker 4: I'm slightly more optimistic that we can move this forward
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  Speaker 4: and get the necessary votes to advance the bill.
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  Speaker 1: You look at what Wit is saying, and then you
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  Speaker 1: could kind of compare what Kristen Smith. We just had
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  Speaker 1: her on the show the other day. She kind of
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  Speaker 1: echoes that point and she simply says, hey, it doesn't
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  Speaker 1: reflect the current state of play. There's a clear path
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  Speaker 1: to pass the Clarity Act before the recess on August seventh.
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  Speaker 1: So it goes back to that August seven days. So
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  Speaker 1: here was a tweet put out by Anthony's Karamochi kind
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  Speaker 1: of gives you a scorecard here, and if you look
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  Speaker 1: at this, the Republicans are setting at fifty one yes
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  Speaker 1: right now two knows. You've got the Dams coming in
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  Speaker 1: at two yes and forty five nos. We need sixty,
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  Speaker 1: so right now they're standing on fifty three votes as
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  Speaker 1: it is right now now unless we sway a Republican
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  Speaker 1: coming in.
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  Speaker 2: So you can see the list right there though, Lamas, Kramer, etc.
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  Speaker 2: That are pretty much yes.
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  Speaker 1: Is the likely yes is that we think we could
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  Speaker 1: sway could be Josh Holly, he would be a critical one.
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  Speaker 1: And then of course you get into this issue right here,
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  Speaker 1: which is the Democrats. These are the ones that really matter,
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  Speaker 1: and that is going to be Catherine Cortez Masto. We've
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  Speaker 1: talked about that a lot Booker, higgin Looper, and even
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  Speaker 1: Mark Warner, all of those, if those were potential, those
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  Speaker 1: were kind of on the bubble. I think Jillibrand is
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  Speaker 1: going to end up being a yes. So there, it
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  Speaker 1: looks like there is a path here if there are
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  Speaker 1: some key concessions. That is the concern I have right
• 6:43
  Speaker 1: now is that there could be some key concessions here
• 6:46
  Speaker 1: that I'm not necessarily in love with. Just so you
• 6:48
  Speaker 1: guys know, if you want to go over to stand
• 6:51
  Speaker 1: with Crypto, you can of course put out notifications to
• 6:55
  Speaker 1: your own senators and let them know how you feel.
• 6:58
  Speaker 1: So what we did, it's very easy. Just jump over there,
• 7:02
  Speaker 1: email your senator. It's going to fill out the information
• 7:04
  Speaker 1: for you. I got Jamie Dimondson in his information over
• 7:08
  Speaker 1: to Ashley Moody and Rick Scott. But it even goes into.
• 7:13
  Speaker 2: The issue of what to say, so it puts it
• 7:15
  Speaker 2: all in there for you. You guys can do this right now.
• 7:17
  Speaker 1: So if you haven't gone over to Stand with Crypto,
• 7:20
  Speaker 1: do that right now, stand Withcrypto dot org and email
• 7:23
  Speaker 1: your centator. That's the next step for you guys in
• 7:26
  Speaker 1: the community. One of the point I want to kind
• 7:29
  Speaker 1: of focus on and I'll kind of showcase I've got this.
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  Speaker 1: This kind of zoomed in for you guys right now.
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  Speaker 1: So here we are in July, and essentially what you're
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  Speaker 1: looking at is, let me kind of walk you through this.
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  Speaker 1: The House in session is kind of that pink number.
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  Speaker 1: If you guys are listening on the podcast, will kind
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  Speaker 1: of help you look at that. That is when they
• 7:49
  Speaker 1: are in session. The Senate in session is the light blue,
• 7:53
  Speaker 1: and then of course you have the House and Senate
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  Speaker 1: with the dark blue, okay, on the blend. So right
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  Speaker 1: now we're looking at mostly just the Senate in session,
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  Speaker 1: which is the week we're in right now, and next
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  Speaker 1: week that is what is so critical right now of
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  Speaker 1: getting this done. The week that is in question is
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  Speaker 1: the week of August third through the seventh. That's where
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  Speaker 1: the possibility lies. Now remember that the House, because the
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  Speaker 1: material change could come back from the Senate that is
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  Speaker 1: real in this copy. The material change is going to
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  Speaker 1: push it back to the House. So if you look
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  Speaker 1: at the House calendar, back to the calendar here in September,
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  Speaker 1: there are three days, three days that the House could
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  Speaker 1: potentially be in to get this done and put a
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  Speaker 1: rubber stamp on, which I think is what would happen
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  Speaker 1: if it comes out of the Senate and through because
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  Speaker 1: I'm assuming we are going to see the House starting
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  Speaker 1: to push and move on this once we get movement
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  Speaker 1: in August, if in fact, all of this comes together.
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  Speaker 1: So with all of this going on, you've got Thune
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  Speaker 1: who is also having difficulty getting the Continuing Resolution passed
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  Speaker 1: as well.
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  Speaker 2: That course gets.
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  Speaker 1: Into what is brewing right now, which potentially could be
• 9:04
  Speaker 1: a government shutdown, So you throw that into the mix.
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  Speaker 1: It starts to complicate things because it will suck up
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  Speaker 1: time in the Senate. This of course changes the whole
• 9:14
  Speaker 1: landscape going forward, and you kind of see the government
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  Speaker 1: shutdown still holding it about a forty one percent chance,
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  Speaker 1: so it's.
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  Speaker 2: Likely they don't get things done.
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  Speaker 1: You saw, of course Mike Johnson trying to press on this,
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  Speaker 1: but it's going to have to end up there. One
• 9:27
  Speaker 1: other thing that is happening is Lindsey Graham is set
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  Speaker 1: to be honored next week as well, and I think,
• 9:33
  Speaker 1: you know, probably Lindsay Graham would probably say, let's get
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  Speaker 1: this done, but this is going to be another issue
• 9:39
  Speaker 1: that would probably take another day out of workdays for
• 9:42
  Speaker 1: the Senate to get this kind of completed. So there's
• 9:45
  Speaker 1: a lot pushing right now that could really start to
• 9:48
  Speaker 1: put a damper on getting this through. Meanwhile, you've got
• 9:53
  Speaker 1: the Transparency Alliance, which is now growing to seventy participants.
• 9:56
  Speaker 1: These guys are all getting together to essentially get a
• 9:59
  Speaker 1: token transparency framework which will be essentially the new benchmark
• 10:04
  Speaker 1: for disclosure around these kinds of projects. And BlockWorks does
• 10:08
  Speaker 1: a good job in breaking this down because it goes
• 10:10
  Speaker 1: through independent projects out there, kind of gives you the
• 10:13
  Speaker 1: disclosure completion level you'll notice right here.
• 10:17
  Speaker 2: Let's say, for instance, we'll.
• 10:18
  Speaker 1: Go to bat Right there, it'll say partial gives you
• 10:21
  Speaker 1: a little bit of information of where.
• 10:23
  Speaker 2: The issues are.
• 10:24
  Speaker 1: This one is on sex and decks, agreements and deals. Also,
• 10:29
  Speaker 1: all of this will get into an issue with clarity,
• 10:32
  Speaker 1: because everything that's on this list essentially for the most part,
• 10:36
  Speaker 1: needs clarity get things going. This kind of sets up
• 10:39
  Speaker 1: the token holders' rights framework. Think of it like if
• 10:42
  Speaker 1: you're holding a stock. If you're holding a stock, you
• 10:45
  Speaker 1: have certain rights. That's the kind of scenario that we
• 10:48
  Speaker 1: are facing. I think when you look at all coins
• 10:50
  Speaker 1: in general, the utility factor will also play into this.
• 10:53
  Speaker 1: So you're going to see the opportunity here for like
• 10:57
  Speaker 1: this token transparency framework to really enable a lot of
• 11:00
  Speaker 1: these projects, to let everyone out there that's invested in
• 11:04
  Speaker 1: them to understand exactly what's available, whether it's token earning,
• 11:08
  Speaker 1: whether it's certain rights that you would gain as a
• 11:11
  Speaker 1: token holder. All of that, of course gets enabled through clarity,
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  Speaker 1: So it is.
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  Speaker 2: A huge, huge step.
• 11:16
  Speaker 1: Now there's a few projects out there that are good
• 11:19
  Speaker 1: examples of this. Let me go over to DeFi Lama.
• 11:22
  Speaker 1: So if you compare the two biggest money makers over
• 11:26
  Speaker 1: on Salona will go in. I'll zoom in on that.
• 11:28
  Speaker 1: That of course is Pomp and also Collector crypt. These
• 11:32
  Speaker 1: of course get into a situation where they have an
• 11:35
  Speaker 1: opportunity to be able to really benefit from this, and
• 11:39
  Speaker 1: of course Collector Crip is a good example of that.
• 11:42
  Speaker 1: Let me go to a clip of their CEO. He
• 11:45
  Speaker 1: explains why this matters so much because you can't essentially
• 11:50
  Speaker 1: boost a token without clarity.
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  Speaker 5: Take a look, the token right now is for entertainment
• 11:54
  Speaker 5: purpose is only There's a lot of things that I
• 11:57
  Speaker 5: would say, you know, if there were kind of a
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  Speaker 5: rule given to us by the SEC and by the
• 12:02
  Speaker 5: US government. You know. One, it has to be credible,
• 12:05
  Speaker 5: it has to be safe, custodied in the right way
• 12:08
  Speaker 5: for it to be an actual asset, and right now
• 12:11
  Speaker 5: it's not because we don't have rules on how to
• 12:13
  Speaker 5: do that. Two, we would love to be able to
• 12:16
  Speaker 5: also say, well, collectorcrypt is generating four or five million
• 12:19
  Speaker 5: dollars in net profit. I would love to be able
• 12:22
  Speaker 5: to say, hey, this is how we're going to take
• 12:24
  Speaker 5: this money and you know, add value to the token
• 12:27
  Speaker 5: from this. But I can't say that. I can't do
• 12:30
  Speaker 5: any of these things, which also means that we would
• 12:33
  Speaker 5: love to say that the token owns all of the
• 12:37
  Speaker 5: assets that are in the collectorcrypt ownership umbrella, and right
• 12:41
  Speaker 5: now that's around thirteen or fourteen million dollars worth of
• 12:43
  Speaker 5: trading cards. And then, you know, I will say this
• 12:46
  Speaker 5: in a very careful way, I can neither confirm nor
• 12:49
  Speaker 5: deny that we are taking some more of that profit
• 12:53
  Speaker 5: and directly buying back the token.
• 12:56
  Speaker 1: Those are the barriers that a lot of entrepreneurs in
• 12:59
  Speaker 1: this space face.
• 13:00
  Speaker 5: I agree with everything you've said, and you know, I
• 13:02
  Speaker 5: have a lot of people coming to me for advice
• 13:05
  Speaker 5: as well. Saying hey, I'd like to launch a token.
• 13:07
  Speaker 5: I want to do it just like you guys did,
• 13:10
  Speaker 5: and I say, plet please don't do that.
• 13:13
  Speaker 1: This is the barrier of innovation that is facing the
• 13:17
  Speaker 1: industry right now and if Clarity doesn't go through, this
• 13:20
  Speaker 1: is just one small example of a collector community. And
• 13:23
  Speaker 1: if you look at just Collector crypto token, this is
• 13:26
  Speaker 1: why we have continued to see this fall over the
• 13:29
  Speaker 1: last few months.
• 13:30
  Speaker 2: And I think this is the issue right now. We
• 13:32
  Speaker 2: are facing this.
• 13:33
  Speaker 1: Around all sorts of really high quality projects that unfortunately
• 13:38
  Speaker 1: are at the whim of what's going to happen within Clarity.
• 13:42
  Speaker 1: But hey, let's go to some big projects and then
• 13:44
  Speaker 1: of course that would be Ripple. They continue to push
• 13:47
  Speaker 1: money into major, major companies. Nota being is a good example.
• 13:50
  Speaker 1: This is another strategic investment from Ripple. And this isn't
• 13:54
  Speaker 1: just a company that is out there in other countries.
• 13:57
  Speaker 1: We're talking about a major company here in the United
• 14:00
  Speaker 1: States and when you look at them, they're headquartered in
• 14:04
  Speaker 1: New York. This company, of course gets into regulated on
• 14:07
  Speaker 1: chain transactions. You're talking about institutional level. This talks about
• 14:11
  Speaker 1: two hundred and eighty plus customers global banks FinTechs, etc.
• 14:15
  Speaker 1: This is real business, guys, all happening right now. If
• 14:18
  Speaker 1: you look at the DeFi side, now you've got UNISWAP.
• 14:22
  Speaker 1: This of course is launching permission pools there. This is
• 14:26
  Speaker 1: kind of a new standard that's going to bring permission
• 14:28
  Speaker 1: assets to the AMM essentially compliance. So this is going
• 14:31
  Speaker 1: to open up a lot of opportunity. This is also
• 14:33
  Speaker 1: collaborate or in collaboration with even Securitized, which we obviously
• 14:37
  Speaker 1: know now is a publicly traded company. That is the
• 14:41
  Speaker 1: challenge that we are dealing with. They can never really
• 14:43
  Speaker 1: access public markets unless we see Clarity go through. So
• 14:48
  Speaker 1: again another closed wall for innovation around these kinds of projects.
• 14:54
  Speaker 2: That are out there.
• 14:54
  Speaker 1: So you can see, guys, this is innovation essentially being
• 14:58
  Speaker 1: thwarted by the the US government. This is innovation that
• 15:02
  Speaker 1: most likely will lead all financial markets globally and worldwide
• 15:08
  Speaker 1: for the rest of the next five decades. That's the
• 15:12
  Speaker 1: kind of impact this Clarity Act has, So it's going
• 15:16
  Speaker 1: to be a big one right now. We're going to
• 15:17
  Speaker 1: be following this really closely, so stay tuned. If you
• 15:26
  Speaker 1: like this video, like and subscribe, drop a comment down below,
• 15:30
  Speaker 1: and also join our free private member group.
• 15:33
  Speaker 2: The link is in the description