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TimeStamps:
00:00 Intro
00:00 First Republic Bank Collapse – EXPLAINED
01:49 Bitcoin Analysis
02:32 The Truth About FDIC Insurance
03:33 The Real Reason Bitcoin Is Going Up
05:12 How Does First Republic Bank Get Saved?
07:02 Altcoin News Today
07:58 Crypto & Comedy Event
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This morning new concerns from the Financial World First Republic a Well-known Regional Bank saw its stock Dropped nearly 50 percent yesterday After announcing a recent 100 billion Dollar drop in deposits now this despite The billions it received from the Nation's largest banks during last Month's banking turmoil so another U.S Regional Bank is having big trouble as First Republic Bank Dives another 20 Percent with Bitcoin ready for 40K and Why is this happening well we just got The data of a huge depositor Exodus from The bank in March and with this being The chart for First Republic Bank for The month let's put into perspective Just how big this deposit Exodus is a Hundred billion dollars sounds like a Whole lot of money just put it in Perspective for us yeah well it was About 40 percent of their overall Deposits so a lot of clients are taking Money out of the bank and as you Mentioned Hoda it's despite the fact That 11 of the largest bank put in 30 Billion dollars when a lot of the Banking issues were cropping up about Six weeks ago when you recall Silicon Valley Bank and also Signature Bank Ultimately went under now First Republic They haven't gone under there's no talk About that happening right now but when You see that 40 percent of the money was
Going out the door you're wondering if We really are out of the woods after the Banking issue is about six weeks ago And to offer even more perspective well Months ago this was seemingly a Multi-bank problem signature silvergate Silicon Valley Bank today it does just Seem to be First Republic losing the Deposits other Regional Bank stocks were Up reinforcing first Republic's Predicament they included Pac West which Did say Tuesday that had gained back Some deposits in April after yes losing Billions during the first quarter now Looking at the chart of Bitcoin how Bitcoin is reacting to this banking Problem the lesson Banks go down BTC Goes up and if you're wondering why let Me just be real with you today the Mainstream will tell you that all these Banks are insured FDIC Insurance up to 250 000 per person reminding all Americans 250 000 per depositor that's How much you're insured that was what I Was going to ask you people should not Be panicking about this if they have Their money there that's right and again You have up to 250 000 in insured Deposits even if the bank that you have That money at fails you will get that Money okay and this is true people will Be fine but to me not for the reasons That they say yes there's FDIC insurance But the Dirty Little Secret is there's
Not enough for all banks keeping track FDIC Deposit Insurance Fund right now is About 128.2 billion dollars of course minus What they spend on signature that's Around 2.5 billion minus the Silicon Valley Bank costs that's minus another 20 billion so right now today again Using their public numbers the FDIC Insurance balance is about 105.7 billion dollars versus the total Insured deposits 10.1 trillion and total U.S Commercial Bank deposits 17.5 Trillion all the banks are broke they're Broke because we have a system called Fractional Reserve banking Banks can Lend money that they don't actually have It's a criminal Scandal and it's been Going on for too long there is not Enough money and that's okay and let me Explain I I'm not trying to cause a Panic here I'm just trying to keep it Real with you this is one of the Explanations on why Bitcoin is going up Because the FED has showed us time and Time again if they need to whenever they Need to they will start back the money Printer as soon as silicon Bank failed They immediately start a quantitative Easing again so yes the U.S government Will save you but what they don't tell You is if they have to it will be at the Expense of your purchasing power Question becomes
How many times can the FDIC do that at What point is the FDIC broke the FDIC is Backed by the full faith and credit of The United States government so if we Need to we try not to and don't want to But if we need to we can borrow from Treasury to make up for any shortfall so The FDIC never goes broke we do go broke No we're we are the government we're Back by the Full Faith and Grant of the United States government and again not To beach over the head with this but I Loved this perspective from Peter Schiff And the cost of living in the United States is going to double is going to Triple okay get a quadruple and it's Going to impoverish the vast majority of Americans and they need to know the Reason they're going to be so poor is Because of the government it's not Because of the free market because we Don't have one it's because there's big Government and pal copped out when Somebody asked him would you need some Help from fiscal policy and he says well We don't want to give any fiscal policy Advice that's BS okay we should be Giving advice but he knows that Government is creating inflation by Running these huge deficits it's up to Powell to tell the government to stop Doing that to cut government spending But he refuses to stand up for the American public he doesn't really want
To do his job be sure to click subscribe For daily updates keeping you informed About crypto and I guess my final Warning to bitcoin holders is just to Expect volatility the only question Remaining about First Republic Bank is Whether or not they make it to Friday When Banks usually are closed by the FDIC what I can tell you right now is The next few days for First Republic are Going to be crucial given the loss of Deposits and by the way the fact that They did not include the 30 billion Coming in in their overall so you really They did lose a hundred billion 70 Billion in deposit and I'm glad you said A lot of people can read through that And then they Wonder well why aren't you Being fully transparent with us and that Actually raises more questions than it Answers but let me tell you what elise's My understanding is going on right now In terms of First Republic there have Been efforts made on over the last few Weeks there continue to be many Conversations it's my understanding both White House and Treasury and fed in Terms of what should happen here what Plan is there to potentially do what They would call an open bank scenario in Other words a way to rescue the bank Without it going into FDI receivership That remains unclear one plan one key Plan would be to create some sort of
Special purpose vehicle where you get These same banks that were part of the Consortium that put the deposits in Remember roughly a month or so ago that 30 billion and you would get them to buy Many of the bad loans on or the Underwater loans on first Republic's Balance sheet above where they'd be Marked so you'd be paying a premium for Them perhaps below where they were made But above where they'd be marked and Then the bank is able to go out and Raise new equity and I'm told it could Do that were to do the first part of That and then maybe it is in a position To become a profitable bank again Remember right now given what it's Paying for its deposit base as it Currently stands and given where it's Loan uh portfolio is it's in no position To do much of anything hit the like Button if you want to support me if he Got value from today's video and just Understand as we're starting to see Cracks in the traditional system more And more people are waking up to bitcoin And by the way Innovation is not Stopping Circle the company behind Stablecoin usdc launches cross chain Usdc transfer protocol for ethereum Avalanche the new protocol Burns coins On the sending chain and mints new ones On the receiving chain so obviously a Huge announcement for this space Circle
Has launched a mainnet protocol that Lets users transfer usdc between Ethereum and Avalanche previously Avalanche users who held usdc on Ethereum had to deposit their coins Within a circle partner or use a Third-party bridge to transfer their USD Sequence from one network to the other The new cross-chain transfer protocol Cctp appears to do away with this need For usdc Bridges anybody that's going to Be a Bitcoin Miami the conference join Us for web 3 as a joke my brother and I Will be doing some comedy about crypto The link for this is down below as well As use promo code altcoin daily for 10 Off your ticket to bitcoin conference See you tomorrow