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Top Three Videos – June 28 2023

Protect your savings from bank failures and Dollar collapse
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Vince Lanci: Getting Liquidity When You Sell Your Silver
Arcadia Economics

Key insights

  • The least understood or appreciated aspect of investing in silver is exit liquidity.
  • “Peak China silver” – The mention of “Peak China silver” suggests a potentially controversial topic related to the silver market in China.
  • “Premiums” in the silver market can greatly impact the value of coins, making it important for investors to understand and consider these costs.
  • “When investing, it’s important to choose assets with the best exit liquidity, ensuring that you can easily sell when you want to get out.”
  • The speaker’s experience of being offered a lower price for selling Maple Leafs compared to the premium he initially paid suggests that the market for silver coins can be volatile and influenced by factors such as demand and inventory refurbishment.
  • “Canadian silver coins, while the second most liquid in the world, have a premium that is not trading where it should be, making them an interesting option for those seeking potential arbitrage opportunities.”
  • Technology advancements in the use of silver in solar panels are allowing for thinner coats of paste, reducing the amount of silver used and making solar panels more affordable for the common man, leading to increased demand.
  • “Silver’s stronger right now, we broke out of the channel, and it’s expected to go back up.”

Insights and recommendations on investing in silver, including the importance of liquidity, premium assets, and the potential for future value improvement.

  • 00:00 In July, there will be centralization events including the launch of a central bank digital currency, the release of the Bank of International Settlements’ annual report on centralized money, and the introduction of a universal basic income, with England being the first to trial a month-long event.
    • Exit liquidity is an important but often overlooked aspect of investing in silver, and in this video, the speaker discusses upcoming events in July, the silver extinction story from China, mining research, and the significance of mining coin premiums.
    • In July, there will be centralization events including the launch of a central bank digital currency, the release of the Bank of International Settlements’ annual report on centralized money, and the introduction of a universal basic income.
    • In a pilot program, England will be the first to trial a month-long event, which may eventually be implemented in the US, and in July, there will be a confluence of events where various organizations will test the grounds for this program.
  • 03:36 China’s silver production is declining and they are now exporting silver for the first time in years, but the reliability of the data is debated.
    • Xiao Jin, a source of Shanghai exchange data in the jewelry industry, collaborated with the speaker and shared an interesting piece of information.
    • China’s silver production is decreasing and they are now exporting silver for the first time in years, but there is a debate about the reliability of the data.
    • Read the PDF on Zero Hedge to get all the information about Peak China silver.
  • 06:42 The speaker discusses upcoming interviews and discussions on silver reserves, China’s silver exports, and miners shorting silver, while also mentioning their interest in gold and mining research.
    • The speaker believes that the story is true and has verified it, and the person he is talking to has other stories and responds honestly to his questions.
    • The speaker discusses upcoming interviews and discussions on silver reserves, China’s silver exports, and the reasons behind miners shorting silver, while also mentioning their interest in gold and mining research.
  • 08:31 Invest in coins with high liquidity, like the American Eagle, to ensure a smooth selling process and secure exit liquidity for serious investors.
    • The speaker discusses the topic of premiums in coins, specifically American Eagle, Maple Leaf, and Spider-Man limited edition coins, and how they are important for serious investors.
    • Exit liquidity is crucial for investors, and it is important to invest in coins with high liquidity like the American Eagle to ensure a smooth selling process.
  • 11:09 Buy premium assets like respected coins for good exit liquidity, as their value may drop but the premium is unlikely to go to zero due to two big picture reasons.
    • Investors should buy premium assets with good exit liquidity, like respected coins, because they will retain their value even when the market drops.
    • Premiums on coins, particularly American Eagles, are dropping while the real estate market is softening, causing the value of these coins to lose their premium, but it is unlikely that the premium will go to zero due to two big picture reasons.
  • 13:10 When selling silver, focus on price and quality rather than volume, as premiums can vary; the speaker’s experience of selling silver coins revealed a tightening supply and prompted them to buy more.
    • Premiums on silver coins can vary, so it is important to focus on the price and buy quality rather than volume when selling silver.
    • The speaker discusses the experience of selling silver coins and realizing that the dealer was willing to pay more than the spot price, indicating a tightening supply and prompting the speaker to buy more.
  • 15:21 Canadian silver coins, like American Eagles, are highly liquid and can be easily sold in any country; it is recommended to buy Maple Leafs for better value and liquidity, as premiums for coins are dropping, with American Eagle premiums dropping slightly and other coins dropping significantly, and dealers may give away certain coins at spot to attract customers to open larger accounts.
    • Canadian silver coins are a good investment because they are highly liquid and can be easily sold in any country, similar to American Eagles.
    • The speaker advises against buying high-priced coins and suggests purchasing Maple Leafs instead for better value and liquidity.
    • Premiums for coins are dropping, with American Eagle premiums dropping slightly while other coins like Spider-Man and maple leaf will drop significantly, and dealers may give away certain coins at spot to entice customers to open larger accounts.
  • 18:25 Silver is currently in a downtrend, but there is hope for improvement in its value as technology reduces the need for silver in solar panels and increases demand, however, it is advised to wait for news between now and October before making any decisions.
    • Silver is currently in a downtrend, and until it breaks above a certain line, there is no hope for improvement in its value.
    • Scrap silver becomes available at different price points, technology is improving to use less silver in solar panels, and the affordability of solar panels increases demand.
    • Silver prices have broken out of a channel and are expected to go higher in the future, but it is advised to wait for news between now and October before making any decisions.

Lawrence Lepard: Fed, Banks, and Potential for Rapid Contagion
Palisades Gold Radio

Financial System Vulnerabilities

  • “There are a lot of factors coming together and they’re just. They’re. They’re coming together in a way that something’s going to break and we’re going to hit the wall.”
  • “Higher interest rates make the problem worse because the deficit requires selling more bonds, creating a doom loop or a vicious circle.”
  • “The FED is trapped because they’re running inflation over 2x their target on core, and if and when they pivot, the markets will force them to pivot.”
  • “The money is broken. It’s slowly been getting broken since 71 and that breakage has accelerated very rapidly.”
  • “The bond market is the whole issue…when people recognize that inflation is intractable, the bonds are mispriced and interest rates will have to go substantially higher.”
  • “These are the kind of rivets popping or early warning signals of financial distress that I believe are going to lead us to something that’s much bigger.”
  • “You can’t taper a Ponzi. There really is no going back, we need to continually expand the debt in order to prevent massive downturn bankruptcies.”
  • The federal government and other entities may be bankrupt, but because they can print money and are the reserve currency, they may not have to recognize it through bankruptcy filings, instead resorting to measures like yield curve control and quantitative easing.
  • “The unfunded liabilities of the United States are close to 200 trillion dollars…unless we’re going to break all those commitments and raise taxes, I don’t see how we go in the other direction or how this proves out to be wrong.”
  • “They try to block the exits…they’re suing a lot of people…trying to prevent people from participating in crypto because it’s an alternative to their Fiat system.”
  • “We do know that the government is bankrupt. We do know that they’ve expanded their balance sheet massively. What makes us think that they’re going to reverse it and get it all under control?”

Investment Opportunities

  • “The only thing to do right now is to hold on to sound money for dear life, knowing that on the other side of it all will be very well rewarded.” – Lepard emphasizes the importance of investing in stable assets during uncertain times.
  • “One of my best technical analysts is very close to issuing a tier one gold buy, which has only triggered at the bottom in 08, 2020, and 2015, indicating a potential upcoming gold buying opportunity.”
  • “When Bitcoin takes out 34, 40, 50 and gold takes out 2100, gold is going to run hard, signaling trouble for bonds and the recognition that fiat currencies are doomed longer term.”
  • “This is a multi-generational buy opportunity in the gold stocks.”

Inflation and Monetary Policy

  • “It’s not just a we printed too much money problem although that’s part of it. It’s also a supply problem and you know we coveted restricted. Supply cut down. Supply chains Etc. And so you have less Goods coming to Market well that’s going to lead to high rates a higher costs and and higher inflation.”

The key idea of the video is that gold, silver, and Bitcoin are safe investments amidst a fragile and manipulated financial system, potential economic downturn, and the risk of rapid contagion, providing a hedge against government control and the potential collapse of fiat currencies.

  • 00:00 Gold is likely to increase in size due to the destruction of reality and overwhelming probabilities, as evidenced by the rapid bank run at Silicon Valley Bank and other banks, leading to major failures and the need for the bank term funding program, along with other signs of financial instability.
    • Pay attention because reality has been destroyed and the probabilities are overwhelming for gold to increase in size.
    • Silicon Valley Bank experienced a rapid bank run, followed by other banks, leading to some of the largest bank failures in history, ultimately requiring the implementation of the bank term funding program to assist banks with a mismatch in asset duration.
    • There is a larger pattern that goes back quite some ways, and you can start looking at it from different places.
    • There have been various signs of financial instability, including the repo blowout in 2019, market downturns in 2018, the British pension fund crisis, REITs gating withdrawals, and property owners walking away from buildings due to the tightening campaign by the Fed.
  • 03:33 The speaker warns of potential rapid contagion in the banking system due to unrealized losses and interest rate moves, suggesting that the Federal Reserve may be forced to reverse its policy in the future, leading to a worsening deficit and the need to sell more bonds, potentially devaluing the dollar.
    • The speaker discusses the potential for rapid contagion in the banking system due to unrealized losses and interest rate moves, suggesting that the Federal Reserve may be forced to reverse its policy in the future.
    • The speaker suggests that while the Federal Reserve was able to quickly fix the recent financial issue, if a larger problem arises, they may not be able to fix it as easily, as there are multiple factors converging that could potentially lead to a crisis.
    • The U.S. government has a significant amount of debt to refinance in the next year or two, and with increasing deficits, it raises the question of who will buy this paper.
    • Higher interest rates are exacerbating the problem of the rapidly growing US federal interest payments, leading to a worsening deficit and the need to sell more bonds, creating a vicious circle.
    • The speaker suggests that the Federal Reserve may be forced to lower interest rates or engage in quantitative easing in order to refinance the increasing amount of debt, which could have negative consequences for the value of the dollar.
    • The Federal Reserve is trapped in a cycle of increasing inflation and will likely be forced to pivot, potentially creating new programs to maintain the system, despite the fact that the math doesn’t work.
  • 10:13 Hold onto sound money as a safe option amidst manipulated markets; broken monetary system and rapid money printing during COVID-19; long-term perspective on investments; bond market volatility and government intervention; inflation leading to mispriced bonds, higher interest rates, and economic downturn; potential bottom in gold market within 3-6 months.
    • The speaker believes that the current economic situation is difficult to escape and suggests holding onto sound money as a safe option amidst manipulated and unpredictable markets.
    • The speaker discusses the broken monetary system and the inability to print gold, Bitcoin, silver, or oil, highlighting the rapid acceleration of money printing during the COVID-19 pandemic.
    • The speaker encourages viewers to take a long-term perspective on their investments, as they believe that despite current difficulties, their reasons for holding them are valid and there is potential for rapid growth in the future.
    • The bond markets experienced significant volatility due to the failure of Silicon Valley Bank, but the situation was eventually calmed by the government.
    • Severe distress in the bond market indicates inflation is intractable, leading to mispriced bonds, higher interest rates, and a downturn in the economy and stock market.
    • A technical analyst is close to issuing a rare gold buy signal, indicating a potential bottom in the market within the next three to six months.
  • 15:28 The sentiment towards sound money is negative, indicating a potential opportunity to buy gold stocks, as the Fed’s actions may compound its mistakes, leading to a potential collapse or severe inflation in the future, causing substantial losses for banks and a surge in gold, Bitcoin, and silver prices.
    • The sentiment towards sound money is extremely negative, indicating a potential opportunity to pay attention to gold stocks, as previous instances of feeling this way have been good times to buy, and the Fed’s actions may be compounding its mistakes.
    • Some people are happy with higher interest rates on treasury paper, while others are concerned about the potential devaluation of the dollar and the negative impact on their purchasing power.
    • The inflation problem is not just due to printing too much money, but also a supply problem caused by restricted supply chains, leading to higher costs and inflation, which can only be solved by bringing on more supply through investment and capacity expansion, which requires borrowing that may be hindered by higher borrowing costs.
    • The speaker believes that the Federal Reserve is in a difficult situation and their credibility is decreasing, leading to a potential collapse or severe inflation in the future.
    • Higher interest rates are causing substantial losses for banks and the Fed could potentially intervene to prevent an economic collapse, leading to a surge in gold, Bitcoin, and silver prices.
    • The speaker highlights the cruel and unpredictable nature of the economic system and how it can easily manipulate and impact people’s lives.
  • 20:55 The Federal Reserve’s mistakes, including not discontinuing quantitative easing and zero interest rate policy sooner, have led to an inflated bubble and potential economic downturn, with the market indicating that the Fed will be forced to print money and cut interest rates quickly; food inflation, student loan forbearance, and high consumer credit card debt are causing financial stress, and there is potential for rapid contagion in the financial system due to the increasing deficit, although measures such as yield curve control or quantitative easing may be implemented.
    • The Federal Reserve has made numerous mistakes, such as not discontinuing quantitative easing and zero interest rate policy sooner, leading to an inflated bubble and potentially driving the economy into a serious downturn.
    • Historically, when money supply growth has gone as negative as it is now, severe panics or depressions have occurred, and the only solution is to continually expand or at least keep the debt level in order to prevent massive downturns and bankruptcies.
    • The market is indicating that the Federal Reserve will be forced to print money and cut interest rates quickly, despite the Fed’s plan to hold rates high for a while, as the market has a better understanding of what will actually happen.
    • Food inflation and the end of student loan forbearance are causing financial stress for consumers, and the potential for delaying the repayment of student debt is likely to continue.
    • US consumer credit card debt is at an all-time high, with people relying on their cards and paying the minimum, but eventually, adjustments will need to be made as expenses exceed revenues.
    • The speaker discusses the potential for rapid contagion in the financial system due to the federal government’s increasing deficit, which could lead to higher interest rates and the recognition of bankruptcy for entities, including the federal government, although they may resort to measures such as yield curve control or quantitative easing to address the issue, while also noting that other countries are facing similar or worse troubles and emphasizing the importance of measuring the value of money outside of the system, such as gold.
  • 28:37 Gold likely to surpass $2100 in the next six months due to trouble in bonds and the recognition of the Federal Reserve’s actions, while all fiat currencies are ultimately doomed; baby boomers are at the most risk due to their diminished earnings power, reliance on equities and real estate, and the potential impact of inflation and increasing property taxes; millennials and Generation X have the most time to recover; Bitcoin and silver are small assets that protect against inflation, with a significant influx of money expected as more people realize the problem of inflation and the ineffectiveness of traditional assets; underperformance of gold miners presents a buying opportunity; if the US government were to become fiscally responsible, it could potentially delay or prevent the doom loop of fiat currency, but the massive unfunded liabilities make it unlikely.
    • Bitcoin and gold breaking certain price levels will indicate the start of the next wave, with gold likely to surpass $2100 in the next six months due to trouble in bonds and the recognition of the Federal Reserve’s actions, while all fiat currencies are ultimately doomed.
    • The vulnerability of the average consumer’s wealth lies in the fact that the baby boomers, who hold the largest portion of wealth, are at the most risk due to their diminished earnings power, reliance on equities and real estate, and the potential impact of inflation and increasing property taxes.
    • Millennials and Generation X have the most time to recover from the potential economic crisis, with Boomers controlling the majority of wealth in tradable assets such as equities and real estate.
    • Bitcoin and silver are small assets that protect against inflation, but as more people realize the problem of inflation and that traditional assets like equities and real estate are not effective, there will be a significant influx of money into these assets, although there is still a large portion of the population who believe inflation will be controlled and we are still in the early stages of adopting an inflationary trend.
    • The speaker believes that the underperformance of gold miners presents a buying opportunity, as the price of gold is expected to increase and cause the gold stocks to rise significantly.
    • If the US government were to become fiscally responsible by means testing Social Security, cutting the military budget, reducing spending, and raising taxes, it could potentially delay or prevent the doom loop of fiat currency, but the massive unfunded liabilities of close to $200 trillion make it unlikely to go in the other direction.
  • 38:13 Regulators are actively trying to hinder cryptocurrency, the financial system is fragile and deceptive, and the potential for rapid contagion is high, with the speaker emphasizing the importance of recognizing lies and staying informed.
    • Regulators are actively trying to hinder participation in cryptocurrency as it poses a threat to their traditional fiat system.
    • The speaker believes that despite the challenges and potential for revolt, the problems in the economy will not be resolved during the summer and there may be unexpected surprises.
    • The speaker highlights the fragility and deception of the financial system, predicting a future crisis that will force authorities to scramble, as evidenced by recent panic and uncertainty surrounding bank failures and debt monetization.
    • The speaker emphasizes the importance of recognizing the lies and staying informed, as big changes will eventually occur and waiting until they happen may not be the best approach.
    • The potential for rapid contagion in the financial system is heightened due to digital interconnectedness, as demonstrated by the example of a massive loss in Silicon Valley Bank caused by a single news event.
    • If China were to suddenly sell all of their US treasuries, the Federal Reserve would be the only buyer left, leading to a significant increase in the Fed’s balance sheet and potentially causing the value of the US dollar to decline, prompting people to seek alternative investments like real estate, stocks, gold, silver, or Bitcoin.
  • 44:05 A potential rapid contagion in the financial system involving sovereign currency and debt could lead to a monetary reset, prompting the speaker to suggest investing in gold, silver, or Bitcoin as a hedge against government control.
    • A contagion is like a fire in a theater where everyone wants to escape.
    • The possibility of a rapid contagion in the financial system, similar to what happened in 2008, could occur on a larger scale involving sovereign currency and debt, as the government’s bankrupt status and expanding balance sheet show no signs of reversal.
    • The speaker believes that the fundamental problem with the Fed and banks is intractable and will continue to worsen, leading to a potential monetary reset in 2026 to 2028, and suggests investing in gold, silver, or Bitcoin as a hedge against government control.
    • The speaker predicts a potential monetary crisis in the near future due to current policies and recent actions by the Republicans.
    • The speaker discusses the freezing of something for three years and compares it to putting a Band-Aid on a gaping wound, and advises listeners to educate themselves and make their own investment decisions.
  • BlackRock’s entry into the Bitcoin market is seen as a game changer due to its status as the largest asset management company in the US and its strong political connections, making it a significant player in traditional finance.
  • If the BlackRock Bitcoin ETF gets approved, Bitcoin could potentially double in value, depending on economic factors and monetary policy at the time.
  • The approval of the BlackRock Bitcoin ETF could have implications for the entire crypto market, potentially either overshadowing other altcoins or lifting up the rest of the market.
  • “If this Bitcoin spot BlackRock ETF gets approved, you see the Bitcoin price doubling.”

Decentralization and control over Bitcoin

  • Owning all the Bitcoin does not make it centralized, as the key aspect of decentralization is the distribution of mining power among millions of machines globally.
  • Regardless of who owns the Bitcoin, the mining process remains decentralized, meaning that even if BlackRock were to buy a large portion of Bitcoin, they would not have control over the transaction process.
  • While it’s great for a centralized party like BlackRock to buy and hold Bitcoin in a bank vault, individuals can still control their own money by buying Bitcoin on the open market and avoiding the risks of centralization.
  • The design of Bitcoin, with its proof of work protocol, ensures a more secure network as it requires more computers to solve mathematical puzzles.

Confidence in the approval of the Bitcoin ETF

  • The probability of the BlackRock Bitcoin ETF succeeding is considered to be higher than 50%, given the belief that BlackRock has insider information and confidence in its approval.
  • Ran Neuner expresses a high level of confidence in the likelihood of the BlackRock Bitcoin ETF happening, stating that if he had to bet, he would put his kids’ university fund on it.
  • “When it feels the most uncomfortable to be pressing that buy button, that’s the time that we should be placing our bets on crypto.”

Transcript:

  • 00:00  A BlackRock Bitcoin ETF filing has sparked a shift in sentiment towards cryptocurrency, potentially leading to approval by the SEC and positive impact on the Bitcoin and altcoin markets.
    • BlackRock, the world’s largest asset manager, filing for a Bitcoin spot ETF has sparked other companies to do the same, leading to a shift in sentiment towards cryptocurrency, but the question remains whether the SEC will approve it and what impact it will have on the Bitcoin and altcoin markets.
    • BlackRock’s Bitcoin ETF would provide easy access to spot Bitcoin by holding physical Bitcoin as part of the ETF structure, unlike the grayscale Bitcoin trust which is not regulated as an ETF and can only buy Bitcoin, leading to a discount in its trading value.
    • A BlackRock Bitcoin ETF would allow investors to buy and sell Bitcoin directly, increasing its scarcity and making it a healthier investment option compared to a Futures ETF.
    • A Bitcoin spot ETF creates buying pressure for the scarce asset and eliminates the manipulation and creation of paper Bitcoin, making it a positive product for believers in Bitcoin.
    • The SEC has consistently denied Bitcoin ETFs due to concerns about manipulation, but BlackRock’s entry into the market could change that as the SEC has been unfavorable towards crypto in the past.
    • BlackRock’s application for a Bitcoin ETF, combined with the SEC’s recent crackdown on crypto, indicates a significant shift in the market and has led to a positive outlook for Bitcoin and the overall crypto market.
  • 10:33  BlackRock’s confidence in their Bitcoin ETF approval is based on their track record, distribution network, and ties to the US government, potentially suggesting insider knowledge or a special deal; the submission may also be a strategic move by the SEC chairman to appease critics and give back to the crypto community.
    • BlackRock’s confidence in the approval of their Bitcoin ETF is based on their successful track record, extensive distribution network, and close ties to the US government, suggesting they may have insider knowledge or a special deal in place.
    • BlackRock’s submission of a Bitcoin ETF application may be a strategic move by the SEC chairman to appease critics and give back to the crypto community, as Bitcoin is considered a commodity and outside of the SEC’s control, making BlackRock the ideal candidate for approval.
    • The BlackRock Bitcoin ETF could be a strategic move by Gary Gensler to maintain his position and win favor amidst calls for his resignation, as politicians’ positions on cryptocurrency are becoming increasingly influential in elections.
    • BlackRock’s involvement in Bitcoin as a proxy for the US government and its centralized nature raises concerns among Bitcoin purists who see it as contradicting the decentralized ethos of the cryptocurrency.
    • BlackRock uses its financial power to enforce ESG policies and behaviors on companies, which has been criticized as an oppressive tool of control.
    • Increasing diversity in employment is important and can impact compensation, so it is necessary to force behaviors and take action to achieve these goals.
  • 19:27  BlackRock’s potential launch of a Bitcoin ETF could be a game changer for the cryptocurrency, as their involvement would counter environmental concerns and their vast distribution network makes them an ideal buyer and distributor, although concerns have been raised about the possibility of them pushing for a hard fork.
    • BlackRock’s involvement in Bitcoin as a driving force for ESG is not a concern, as it helps counter the criticism that Bitcoin is not environmentally friendly.
    • Bitcoin’s decentralized nature is maintained through the scattered network of computers, or miners, that approve transactions, preventing collusion and ensuring the integrity of the currency.
    • The total supply of Bitcoin is fixed at 21 million and can only be changed if the majority of miners agree, so even if BlackRock buys a large portion of Bitcoin, it won’t affect the decentralized mining process.
    • BlackRock, as the largest asset management company in the US with a vast distribution network, would be the ideal buyer and distributor for Bitcoin, making their potential launch of a Bitcoin ETF a game changer for the cryptocurrency.
    • BlackRock’s inclusion of a line in their Bitcoin ETF filing stating that they may use their discretion to determine which version of Bitcoin is appropriate for the trust’s purposes has raised concerns among investors about the possibility of BlackRock pushing for a hard Fork that would transform Bitcoin from proof of work to proof of stake.
    • BlackRock’s Bitcoin ETF filing includes language addressing the potential for a network fork and the need to determine the correct Bitcoin, suggesting that it was included without malicious intent.
  • 26:31  BlackRock’s potential purchase of Bitcoin and transition to proof of stake could be a game changer, leading to increased funding for Bitcoin development and involvement with miners, despite concerns about a potential fork.
    • Miners solve mathematical puzzles to confirm Bitcoin transactions in proof of work, while in proof of stake, Bitcoin owners approve transactions by staking their coins in a voting mechanism.
    • Bitcoin’s proof of work protocol is designed to make the network more secure as it grows, while Ethereum’s move to proof of stake raises concerns about increased control for token holders.
    • BlackRock’s potential purchase of Bitcoin and its plan to transition it from proof of work to proof of stake could be a game changer, despite concerns about its ESG narrative.
    • If miners do not agree to switch from proof of work to proof of stake, the Bitcoin chain will remain the real chain and BlackRock will not be able to convince over 50% of miners to adopt proof of stake.
    • BlackRock’s Bitcoin ETF could be a game changer if it becomes successful and leads to increased funding for Bitcoin development and involvement with miners.
    • BlackRock’s Bitcoin ETF could potentially lead to a fork in Bitcoin, but the speaker is not concerned about it and believes that investors would sell the BlackRock ETF and buy another ETF that aligns with their preferred chain.
  • 33:28  BlackRock Bitcoin ETF could be a game changer for Bitcoin’s price, providing easy access for institutions and potentially doubling its value, especially with upcoming events like the halving and election issues.
    • BlackRock Bitcoin ETF has a high likelihood of happening according to the speaker, and if it does, it could be a game changer for Bitcoin’s price.
    • BlackRock Bitcoin ETF will be a game changer as it will provide an easy way for institutions and funds to access Bitcoin, which is currently difficult due to the contango effect of Bitcoin Futures ETFs and the complexities of buying and holding Bitcoin.
    • BlackRock Bitcoin ETF will provide easy access to crypto for institutions through their distribution network, and with Bitcoin’s historical returns and high performance, it has the potential to be a game changer in the asset class.
    • If the BlackRock Bitcoin ETF is approved, Bitcoin’s price is predicted to at least double and could be influenced by economic factors and monetary policy.
    • The approval of the BlackRock Bitcoin ETF in February, combined with the upcoming halving and election issues, could lead to increased demand and a positive impact on the price of Bitcoin, potentially affecting other altcoins as well.
    • Most candidates running for office have expressed support for bitcoin and cryptocurrency, with some even receiving their salary in bitcoin.

Major General Smedley Butler and the Business Plot Against FDR
America’s Untold Stories

Quick Summary: The Business Plot and Government Conspiracy

  • Major General Smedley Butler realized that his role in protecting U.S. interests abroad was actually about protecting corporate interests, not the interests of American citizens.
  • His realization that war is a racket challenges the conventional narrative surrounding military actions and raises questions about the motivations behind them.
  • War is a racket conducted for the benefit of a few at the expense of many, with profits in dollars and losses in lives.
  • The Business Plot involved a plan to create a new cabinet position and install General U.S. Johnson as a dictator, with Roosevelt as a figurehead like Mussolini and Hitler did with their leaders.
  • The Business Plot against FDR was driven by the wealthiest individuals in the country who wanted a corporate fascist government to prevent the rise of communism.
  • Butler witnessed the plot unfolding in real time, as he turned down a speech and then saw the gold standard proclamation carried and telegrams flooding in, making him realize that everything was lining up exactly as planned.
  • Butler exposed a fascist plot to seize the government by force, as reported on the front page of the New York Times in 1934.
  • He exposed one of the first acts of the deep state, bringing the plotters into the broad sunlight of liberty.

Major General Smedley Butler’s Leadership and Bravery

  • Despite officers not being eligible for the Medal of Honor until later in his career, Butler received two, showcasing his exceptional leadership and bravery.
  • Major General Smedley Butler led by example, always working side by side with his men and even carrying a shovel or plywood, inspiring his junior officers to do the same.
  • Major General Smedley Butler’s wife showed incredible loyalty by regularly visiting him on battlefields, even after the battles were over.

Transcript

Major General Smedley Butler exposed a plot by wealthy individuals to overthrow the US government and establish a corporate fascist regime, leading to his testimony before Congress about the plan to use veterans to intimidate the government and preserve democratic institutions.

  • 00:00 Major General Smedley Butler, praised for his speaking style and character, realized his work served corporations rather than the people, leading to his involvement in a conspiracy against FDR, while FDR engaged in corporate events and implemented infrastructure projects.
    • Major General Smedley Butler is praised for his strong and impressive speaking style, his rock-like character, and his book about his experiences.
    • The Business Plot involved a conspiracy against FDR, with linguists explaining that accents in New Orleans were influenced by shipping routes from Brooklyn to Philly to New Orleans.
    • Major General Smedley Butler had a storied career, rising through the ranks and earning numerous awards, but he eventually realized that his work was serving the interests of corporations rather than the people.
    • His experiences in China, Haiti, and other places led him to realize that he was there to protect corporate interests rather than American citizens, and he had a reputation for being a maniac.
    • Franklin Delano Roosevelt engaged in corporate events and used innovative, non-military methods to further American interests in countries like Costa Rica, Cuba, Puerto Rico, the Dominican Republic, and Mexico, while also implementing infrastructure projects and services for the people.
    • Major General Smedley Butler’s involvement in a conspiracy against FDR, combined with his actions in Haiti and his strength as a fighter, make for a fascinating and little-known American story.
  • 13:10  Butler, a dedicated and talented leader, faced challenges and criticism throughout his career, but played a significant role in the development of the Marines and secured train lines for corporate interests in Mexico during World War I.
    • He was stuck in Haiti as governor and unable to fight in World War I, despite his desire to be with the common soldier, and he received two medals of honor for his service.
    • Butler faced challenges and criticism throughout his career, including being accused of receiving help from his father, but his enemies were the desk generals and admirals.
    • Butler had a contentious relationship with the navy due to their dislike of the marines, and he openly expressed his contempt for them, even refusing to teach his men to salute an admiral.
    • He wanted to join World War I but was initially prevented from leaving Haiti, so he was sent to a terrible base in northern France where he saw it as punishment but was seen as the only one who could save the situation, and despite being a talented warrior and administrator, he used deceptive tactics and secured train lines for corporate interests in Mexico before finally being able to go to France.
    • Major General Smedley Butler was a dedicated and hardworking leader who went above and beyond to provide for his men, even in difficult conditions, and played a significant role in the development of the Marines.
    • Smedley Butler had a significant presence in various locations, including Quantico and San Diego.
  • 22:53 Butler, facing financial struggles and disdain for government, gained support as chief safety officer of Philadelphia, fought corruption, infiltrated illegal activities, and exposed war as a racket, becoming a popular speaker.
    • He faced challenges and dissatisfaction throughout his military career, despite his accomplishments and loyalty, due to financial struggles and his disdain for presidents and government.
    • Major General Smedley Butler is appointed as the chief safety officer of Philadelphia to clean up the city’s corruption and crime, leading to the arrest of thousands of people and gaining the support of the people.
    • Major General Smedley Butler, a popular journalist and colorful figure, designed his own unique uniform and was known for his midnight dinners with the press, but he also fought against corruption and attempted to infiltrate illegal activities.
    • Butler’s tenure ended after he confronted the mayor and quit his job, and he also had a heated exchange with a general who admitted Butler was right.
    • Butler realizes that war is a racket and demonstrates respect for a commander who handled a situation well.
    • He was a popular speaker who had so many requests for speeches that he had to start charging for them.
  • 33:05 Major General Smedley Butler exposes the corrupt war industry and survives a plot against FDR, while World War I veterans protest for their promised bonuses and occupy buildings in Washington.
    • War is a profitable racket conducted for the benefit of a few at the expense of many, as exemplified by the massive profits made by companies during World War I and the current issue of shipping excessive arms to Ukraine.
    • Butler tells a story about Mussolini’s disregard for human life, which leads to an apology from the United States government to Mussolini.
    • Butler is arrested by the president of the United States, but contacts the governor of New York for legal counsel, leading to a complex and intriguing story involving high-level lawyers and political figures.
    • Major General Smedley Butler faced a trial and public support after journalists and the American people defended him against a plot, leading to his retention of command and a quasi-apology letter.
    • World War I veterans march on Washington to demand the bonus they were promised by the US government, setting up hoovervilles and occupying buildings.
    • Protesters peacefully occupy the Hoover Building in 1932 to express their dissatisfaction with President Hoover’s leadership during a time of national crisis.
  • 45:04 Major General Smedley Butler exposes a plot by wealthy individuals to overthrow the US government and install a dictatorship, with the intention of making FDR a figurehead, but Butler exposes the plot with the help of investigative reporter Paul Cumley French.
    • Butler becomes a prominent figure in American history when he addresses veterans who were brutally attacked by General MacArthur and his men, highlighting the dark day in American history when the government turned against its own veterans.
    • Major General Smedley Butler switched sides and endorsed FDR due to his hatred for Hoover and his mistreatment of veterans, and the plot thickens.
    • During the Business Plot against FDR, Major General Smedley Butler is approached by Gerald McGuire, who wants him to lead an army of 500,000 veterans to oppose FDR’s decision to go off the gold standard, with McGuire claiming to be backed by the Morgan bank interests, and although Butler initially doubts McGuire, everything he says turns out to be true.
    • Major General Smedley Butler observes fascist groups in Italy, Germany, and France, finding the Italian black shirts too organized, the German brown shirts like beer hall drunks, and encountering the right-wing organization Quad Defoe in France.
    • Butler is approached by wealthy individuals, including Robert Sterling Clark, who try to convince him to lead a 500,000-man army to overthrow the US government, but Butler plays hard to get and eventually exposes the plot with the help of investigative reporter Paul Cumley French.
    • A plot was devised to create a new cabinet position and force out Vice President Nance and the Secretary of State, with the intention of making FDR a figurehead while General U.S. Johnson became the dictator, backed by the American Liberty League and funded by McGuire and Doyle.
  • 01:00:04 Major General Smedley Butler uncovers a plot by wealthy individuals to overthrow FDR’s government and establish a corporate fascist regime, leading to his testimony before Congress about the plan to use veterans to intimidate the government and preserve democratic institutions.
    • Butler was approached by a bipartisan group of wealthy individuals, including representatives from JP Morgan, Dupont, and Remington, who wanted him to give a speech about the gold standard, but Butler refused to participate in their plot against FDR.
    • The richest people in the country wanted to overthrow FDR’s government because they believed he had become a communist, and they wanted a corporate fascist United States government to prevent the communists from taking over.
    • Butler becomes convinced of a real and large-scale plot against FDR, involving influential people, and suspects that he would be betrayed once his role in rallying troops is fulfilled.
    • Major General Smedley Butler reveals a plot to Congress involving a civil war in the United States, highlighting the need for someone like him to take action.
    • Butler exposes a fascist plot to seize the government by force, with the New York Times reporting on it, but some individuals deny the allegations while others support Butler’s claims.
    • Butler testified before a congressional committee about a plan to use veterans as a means to intimidate the government and establish a fascist dictatorship, emphasizing the importance of preserving democratic institutions such as suffrage, freedom of speech, and press.
  • 01:08:50 Major General Smedley Butler exposed a deep state plot against FDR, but the media denied it, calling him a crank, and there are rumors of FDR’s involvement, highlighting a pattern of uncovering conspiracies throughout history.
    • Major General Smedley Butler exposed a plot against FDR by the deep state, but the media and the New York Times denied its existence.
    • New York Times and other newspapers turned against Major General Smedley Butler, calling him a crank and crackpot, while Dick Stein, who later became a Soviet spy, buried the transcripts of the committee hearings in the national archives.
    • The deep state attempted to crush the story of the Business Plot against FDR, with rumors suggesting that FDR may have been involved, but the pivot in media coverage and the possibility of FDR’s involvement cannot be dismissed, as seen in the current political climate.
    • The speaker discusses the historical evidence of the deep state, citing examples such as the Kennedy assassination and the burying of documents, and expresses the idea that there is a continuous pattern of uncovering conspiracies throughout history.
    • Major General Smedley Butler’s story, which is not taught in schools, covers various aspects of American history including wars, military interventions, and connections between influential figures such as John W. Davis and Franklin Delano Roosevelt.
    • Major General Smedley Butler, the most decorated officer in the USA during World War I, was denied a field command and exposed a plot against FDR, refusing a bribe of $18,000 in 1930s thousand dollar bills.
  • 01:20:47 Major General Smedley Butler survived a bullet graze and contracted yellow fever, while the speaker promotes upcoming events, merchandise, and the need for support and donations for historical information.
    • Major General Smedley Butler’s chest was grazed by a bullet that hit his brass button, which then went into the eagle on his chest tattoo, causing him to contract yellow fever from the needles used by the Japanese tattoo artist.

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