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TimeStamps:
00:00 Intro
00:29 Gary Gensler: “BTC & ETH are Not Securities” (Newly Surfaced Video)
02:00 CPI Data Today & Fed Meeting Tomorrow
03:25 “The Fed is NOT Done” | FOMC Meeting June
05:00 Is The Stock Market About to Crash?
05:58 XRP Hodlers: Hinman Docs UNSEALED
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I get very concerned about the Government trying to usurp digital Currencies because they not only have an Interest in being the Monopoly player And currency but also because the Central Bank digital currencies can Become a method of tracking of finding Out what you're doing where you're Spending your money absolutely that Makes me very nervous and I see what Genzler doing as a strong step he's Finally started to say the silent part Out loud if you hold cryptocurrency this May shock you this is SEC chair Gary Gensler before he was chair at a 2018 Bloomberg conference in New York Educating the masses that Bitcoin Ethereum Litecoin and Bitcoin cash are Not Securities over 70 percent of the Crypto Market is Bitcoin ether Litecoin Bitcoin cash Why did I name those four they're not Securities why did I name those for They're not secures they're not Securities [Music] Wow yet in 2023 today I'm asking about One public is anticipating a profit Based on the I'm asking a specific Question chair ginsler I said this in Private this should be no shock to you I'm asking this question is it is ether A commodity Or security and again it depends on the
Facts and the law and if there's a group Of it I'm asking about the facts and a Law sitting in your seat and the Judgment you are making and so uh Mr Chair I think you you would not want me To prejudge because you have prejudged On this you've taken you've taken 50 Enforcement actions we're finding out as We go as you file suit as people get Wells notices on what is the security in Your view and your agency's view I'm Asking you a very simple question about The second largest digital asset what is Your view and my view is is if there's a Group of individuals in the middle now Luckily as of this week There's an Official movement in Congress to fire Gary Gensler but today the latest CPI Data just got released inflation Rose at A four percent annual rate in May the Lowest in two years and even though Headline inflation is still at four Percent even though core CPI data is Still at 5.3 this is still much much Lower from what we've seen and as U.S Inflation appears to be slowing this Eases pressure on the FED meeting Tomorrow we've got a strong core print Today it was a good report this is a Step in the right direction overall Inflation continues to come down Inflation is coming down the FED has to Be pretty happy with these numbers and Certainly it takes away some of the
Pressure to the FED that should buy them More time to keep watching the data I Would vote for wait and watch it doesn't Look like they're going to need to hike This week the skip is priced in that Makes a lot of sense definitely a skip That's already been communicated so now That the latest CPI data was positive Breaking the Fed rate Futures now show a 100 chance of no interest rate hike at Tomorrow's fed meeting so after 10 Consecutive rate hikes in a row it's now 100 percent projected that the FED will Pause this month however there is still A 65 chance of a 25 basis point interest Rate hike in July and in terms of what The market is Project acting only one Interest rate hike cut is currently Expected for the entire 2023 meaning Markets long term have actually gotten More bearish because keep in mind just Three weeks ago Futures were showing Three rate hike Cuts in 2023. Furthermore no more interest rate hikes Were expected and if you're asking why Here is the head of equity strategy at Wells Fargo explaining the current state Of the market and interest rates you Can't say mission accomplished the FED Still has to do more and if you look at The Fed We're looking at a situation where we Haven't broken the economy right the job Market's still incredibly strong
Inflation is stubbornly sticky and They're talking about a pause we really Do think they need to do more and more May be holding on but more maybe more Interest rate hikes as we go forward in Time things if you told me that that Funds were going to be above five Percent and the economy would be doing What it's doing right now I'm not sure I Would have believed you and so for for The FED right now even as much as they Are continuing to do their inflation Busting but really the inflation side They're talking about two percent and I Think two percent is really aspirational Can they get it down further yeah I do Think they can get it down further maybe With time but really I think they need To do more on the interest rate side and I'm a little bit surprised that they're Pausing at this point in time because Again if you had the equity market up 10 The economy where it is the job market Is strong I wouldn't expect the FED to be pausing But you're right they signal that I Should expect this pause we should all Expect that and let's just watch the Numbers and see what happens yeah they Don't like surprising the market as we Know I mean and they're allowing sort of This percolation right of the the rates To make their way through the markets I Guess and with the stock market the S P
500 doing very well year to date what is Now the expectation going forward how do We predict what happens next it's a Great question so let me be incredibly Transparent we're at 4200 so the Market's above where we expected it to Be that was our year in price Target We're very surprised we got here this Quickly and then when we look at the Underlying fundamentals they really Don't justify this kind of short move up A lot of it as you know is AI and AI Related a lot of it is positioning and So as we look forward in time we think There is it's appeared where you you Should expect to see some sort of Pullback nothing goes up in a straight Line and so at this point a lot of my Peers have gone from bearish to bullish Sentiment it has really risen we're Going to start looking at two Q numbers In the second half and things aren't Great so sooner or later we should have Some sort of pullbacks now if you hold Crypto there is some good news binance Is officially fighting back as well as Today the xrp price jumped as the Henmann documents were finally released For a beginner's guide on what are the Hinman documents seek out this video big Week for crypto due to this but as now Explained by the chief legal officer at Ripple it's been about five years since Bill Hinman gave his Infamous speech
Speaking about ethereum on June 14 2018 Then SEC director of Corporation Finance William Hinman gave a high profile Speech where he declared that a token is Not a security when it becomes quote Sufficiently decentralized so what was Now uncovered with the release of these Additional Hinman documents and keep in Mind Ripple Labs was always excited About this release as Ripple claims Hinman's remarks at the time mean xrp Should not be considered a security as Well like ethereum xrp should be off the Hook and we now see with the release of These Hinman documents we can now all See that Hinman ignored multiple Warnings that his speech contained Made-up analysis with no basis in law But internal emails and documents show That senior SEC officials repeatedly Warned him that his speech wasn't true To the law and would greatly confuse the Markets even more than they already were Now after more than two years and seven Court orders we can finally share some Of what we found in the Hinman speech Documents The SEC head of trading in markets Warned him and that he was making up Factors that quote go beyond the typical Howie analysis as in not in the law and That the speech could lead to not just Confusion but greater confusion on what Is a security Hinman ignored him if the
Network on which the token or coin is to Function is sufficiently decentralized And the purchasers no longer have a Reasonable expectation that a person or A group is going to carry out essential Managerial or entrepreneurial efforts Those assets might not represent an Investment contract on June 4th Hinman Wrote that he didn't see a quote need to Regulate ether as a security and set up A call with ethereum's co-founder Vitalik buterin later that week to quote Confirm our understanding On June 11th the sec's own general Counsel advised against including any Direct statement about ether in the Speech because it would be difficult for The SEC to quote take a different Position on ether in the future the next Day trading in markets wrote that the Statements about ether were quote likely To create more confusion but Hinman went Ahead with a speech anyway and the SEC Despite knowing all this touted the Speech repeatedly the SEC chairman Himself pointed Market participants to The speech Bill Hinman recently outlined The approach we take to evaluate whether A digital asset is a security and I Encourage you to take a look at Bill's Speech which is available on our website The SEC knew the speech didn't follow The law the SEC knew the speech would Create greater confusion and the SEC
Knew Hinman was making things up so why Is the Hinman speech still on the sec's Website why was it ever allowed to be Given at all and why has the SEC pushed A policy of Regulation by enforcement Falsely insisting the rules are clear an Investigation must be conducted to Understand what or who influenced Tin Men why conflicts or at very least Appearances of conflicts were ignored And why the SEC touted the speech so Much knowing that it would create Greater confusion be sure to like the Video if you got value today and by the Way use code altcoin daily50 and join us In Portugal for the block down Festival Gonna be awesome link down below