US Government Plan For Crypto, CBDC, Ukraine, China & More!!

The International Financial system is in Trouble in a recent hearing U.S treasury Secretary Janet Yellen revealed that There are multiple factors which are Starting to cause serious issues in the Global economy and the global markets These include everything from the ESG Investment ideology to cbdcs but the Biggest Factor appears to be Geopolitical tensions between East and West especially between the United States and China today I'm going to Summarize what Janet said in that Hearing explain what it means for the Markets and tell you how you can prepare For what's coming The hearing I'll be summarizing today Was aptly titled quote the annual Testimony of the Secretary of the Treasury on the state of the International Financial system it is Easily the craziest hearing we've Summarized so far and I strongly suggest Watching the whole thing if you have the Time the link will be in the description Now the hearing began as all these Hearings do and that was with opening Statements from top-ranking politicians On the committee The first to go was french hill he Started by saying he was glad the debt Ceiling had been raised but wondered why Janet and the treasury flip-flopped on The date that they would run out of

Money French then went on to slam the World Bank and the international Monetary fund or IMF for following the Orders of non-governmental organizations Or ngos rather than their voting members For context the U.S is the largest Voting member in the world bank and the IMF both of which happen to be based in Washington DC naturally the treasury Department has a decent degree of Influence over both organizations which Is why French slammed the treasury for Supporting the World Bank and imf's Opposition to fossil fuel funding in Developing countries the absence of These basic fuel sources is of course Causing lots of damage French warned that China has stepped in To fill the Gap as a result providing All the fossil fuel funding and Development that developing countries Need to get started on the path to Health and wealth at this rate French Warned there won't be a need for the World Bank or IMF anymore and that is Not good in case it wasn't clear enough The World Bank and the INF provide Funding to developing countries Obviously these development loans come With conditions typically these Conditions involve siding with the US And its allies in the case of Argentina It also included ensuring that crypto Adoption doesn't happen now make no

Mistake the loans China has been Offering to developing countries come With similar conditions and they're Often collateralized by physical Infrastructure that China seizes if Debts aren't repaid you can learn more About how China is taking over Africa Using the link in the description Anyways the second politician to speak Was Maxine Waters she applauded Janet For how she handled the banking crisis Janet flip-flopped on whether all Deposits are insured and for pushing the World Bank and IMF to discourage fossil Fuel development which is arguably Required for early stage growth Anyhow the third politician to speak was Blaine Lewis He correctly pointed out that Discouraging fossil fuel development is Making it hard for developing countries To get out of the ditch and revealed That the World Bank and IMF are even Discouraging the development of nuclear Energy topic for another time Now the fourth politician to speak was Joyce Beatty she confirmed that the U.S Has been influencing the developing World via the World Bank and the IMF and Said it's important that the U.S Maintains this influence in the face of Competition from China this is the game That's being played folks anyway next up Was Janet and she continued the roller

Coaster of Revelations she confirmed That the Global Financial system has Been adhering to U.S interests and Basically admitted that the US is taking Advantage of the war in Ukraine to Reshape the country in its image note That BlackRock and JP Morgan recently Announced that they will be the ones Rebuilding Ukraine if they use their Positions of power to implement their Ideological policies Ukraine could Become a dystopia not far off from what It would have become under Russian rule Anyway speculation aside Janet specified That the Biden Administration is looking To increase its influence over all International organizations particularly The IMF on that note you should know That the IMF issued a record number of Loans to developing countries last Autumn said countries were short on Dollars due to Rising rates it's almost As if the rate hikes have less to do With inflation and more to do with Geopolitics anywho once the opening Statements were over the question period Began French was the first to ask Questions and he asked Janet whether It's possible to seize Russian assets to Pay for the damage the country has done To Ukraine Janet started by saying that Many assets have already been seized she Went on to explain that most Russian Assets are not in the US and that

Seizing Russian assets in U.S Allied Countries would require them to change Their laws to make such Caesars possible Janet revealed that the treasury is Looking into this and French applauded The possibility of such laws being Changed French also asked Janet about Crypto regulation and Regulatory Arbitrage Janet said that the U.S needs To regulate spot markets because most Cryptocurrencies are securities and Stressed that regulations are Desperately needed for stable coins Newsflash this is because they are de Facto digital dollars Maxine was the second to ask questions And she asked Janet about Saudi Arabia's Recent deal to acquire a major American Golf League Maxine said that this Acquisition was unacceptable and asked If the treasury Department was looking Into it Janet confirmed that they were But couldn't give any details Frank Lucas was the third to ask Questions and he asked some good ones About the fed and the SEC Janet didn't Have any answers so he asked her Something even juicier the eu's new ESG Rules Janet admitted that the treasury is Concerned about these rules and is Speaking with the EU now if you watched Our video about the eu's ESG regulations You'll know the treasury's concerns have

Their roots in the fact that the ESG Rules would apply to companies around The world not just those in the EU this Could have a devastating impact on the Global economy so be sure to check out That video ASAP Then after some irrelevant questions From Nadia Velasquez Pete Sessions asked Janet how much money the FED is giving The U.S government right now believe it Or not Janet couldn't provide a clear Answer even though she used to work at The fed and is now the boss of the U.S Government's bank accounts Brad Sherman Was next and for once he didn't start Off by bashing crypto Brad is infamously Anti-crypto in fact Brad started by Bashing the SEC over its proposed rule For the stock market and then applauded The IMF for working with Pakistan and Slammed it for working with Iran Brad Didn't really have any questions but he Did finish off by bashing crypto typical Bill Posey was the seventh to ask Questions and he asked Janet whether the Sanctions against Russia have been a Failure given that the country is raking In record amounts of oil Revenue Janet explained that the treasury once The oil supply to stay high so that oil Prices don't go up in other words Janet Acknowledged that the sanctions against Russia aren't working because Russian Oil and likely other goods are still

Making their way into Global markets and The reason why they're still making Their way into Global markets is because The U.S government doesn't want Inflation This underscores the possibility that All the rate hikes we're seeing are for Geopolitical reasons Russia and its Allies are trying to cause inflation by Restricting Supply in the form of say OPEC oil production Cuts while the U.S And its allies are trying to cause Deflation by destroying demand in the Form of rate hikes some would say that This is the real war that's being waged In any case bill then pivoted to asking Janet about China he asked why the U.S Isn't applying any sanctions to China Considering that it's using slave labor To manufacture solar panels and such Janet said that the treasury is trying To pressure International organizations Not to lend money to China just like That oh and she confirmed that they've Quote had some success in these efforts Once again you can see that no Conspiracy theories are required if you Just pay attention and listen the people In power will tell you what their doing Why they're doing it and what they plan On doing next Anyhow Gregory Meeks was the eighth to Ask questions and he asked Janet how the World Bank and IMF can be sure the money

They're giving to developing countries Isn't being used to pay back the even Larger loans they owe to China Janet Said it's because these loans have Conditions attached what did I tell you Now Blaine was the ninth to ask Questions and he asked Janet whether the Treasury has a contingency plan if China Invades Taiwan he reminded her that he Asked her that last year and she didn't Have an answer Janet said she couldn't Provide any details about such plans Which makes sense I suppose Blaine then Dropped a bombshell and that's that the World Bank and IMF have been providing Financial support to China despite it Being the second largest economy he Asked Janet how this is possible and she Essentially said it's because other Countries have voted to approve this the U.S has been voting against David Scott was next and he must have Asked 10 questions before he even gave Janet a chance to answer he spent most Of his time talking about the Chinese Spyballoon incident and how it made the U.S look weak in the eyes of China and Indecisive in the eyes of its allies Good points Bill huizenga was next with the Questions and he asked when the treasury Department will provide transcripts from Its meetings about the banking crisis Back in March Janet couldn't provide a

Clear answer probably because these Transcripts have damning information About what went down more about that in The description moving on Now Stephen Lynch was the 12th to ask Questions and he asked Janet about why The systemic risk exception was used to Bail out the depositors of the banks That went down and whether it will be Used again Janet explained that Regulators were Concerned about additional bank runs she Went on to say that the worst is over And that hundreds of banks went down During the 2008 financial crisis without Issues logically this implies that more Banks will go under but mainly small Ones that I guess don't matter This is something that Janet had Actually admitted a few weeks earlier And Wagner was next and she asked how The U.S can de-risk and decouple itself From China Janet didn't have an answer because the Answer is that it can't at the moment The US is too reliant on China to do Either of the above but I suppose the Dependency goes both ways Anne then Asked Janet if the IMF would approve Taiwan as a voting member if it wanted To join for reference Taiwan is Technically its own country but is Effectively considered to be a part of China primarily for geopolitical reasons

Janet stuck to the status quo by not Saying yes but not saying no either Then it was Al Green's turn and he Allowed Janet to use some of his time to Answer a question about the SEC that Anne had tried to squeeze in Janet Revealed that the financial stability Oversight committee or fsog has been Speaking with the SEC about its proposed Rules for the markets now these specific Rules are outside the scope of this Video but the key takeaway is that the SEC the treasury and the other Regulators that make up the fsoc are Concerned that mutual funds will Experience runs and that this could Create a financial stability risk Similar to money market funds take note Now Andy Barr was the 14th questioner And he asked Janet whether the treasury Is prepared for the possibility that China will dump all of its U.S bonds as Part of a potential invasion of Taiwan Janet admitted that the treasury hasn't Engaged in exercises to deal with this Risk now this is a big problem because On the off chance that China did dump Its U.S bonds then it could cause the Price of those bonds to crash and the Interest rates on those bonds to Rally The result would be Financial Instability on an international scale Because U.S bonds are used as collateral Everywhere in such a scenario the FED

Must either buy up all of these U.S Bonds or the treasury must freeze them So they can't be sold regardless it Would still cause the most Unholy mess Hypotheticals aside Emmanuel Cleaver was Next and his line of questioning was so Incomprehensible that even Janet Couldn't understand from what I was able To gather the treasury is planning on Eventually tracking all real estate Transactions for illicit Finance reasons Yikes Roger Williams was the 16th to ask Questions and he asked Janet about an Upcoming tax rule that 32 million small Businesses will have to comply with Starting 2024. the problem is that the IRS which is part of the treasury has Yet to publish guidance about this rule Janet said they're working on it Jim Himes was up next and he spent most of His time reminding everyone that the U.S Couldn't possibly disconnect itself Economically from China I must admit That the way he said it sounded a bit Too pro-china and Janet's responses were Likewise abnormally balanced in that Direction then after Janet finished Getting grilled by Tom Emma for spending So much money during the pen endemic Bill Foster asked whether it would be Prudent to use Central Bank digital Currencies or cbdcs to ensure that all The money being used to rebuild Ukraine Is being spent on what it should be I

Wish I was joking Bill literally said That they could use digital Euros or Digital dollars to ensure this Janet Said it was a quote interesting proposal But said that it wouldn't work because Ukraine doesn't have its own cbdc yet Some of you may know that Ukraine has Been rushing towards the cbdc despite The War I wonder who's behind that Decision Anyway Janet insisted that the US is Closely tracking how every dollar being Sent to Ukraine is being spent but Bill Respectfully disagreed he said that Billions of dollars disappeared in Afghanistan and it's likely that the Same is happening in Ukraine hence his Insistence on a cbdc Madness Warren Davidson was the 20th to ask questions And he asked Janet about the unintended Consequences of sanctions something that The treasury Department is apparently Researching for the first time ever Warren asked Janet what effects these Have on things like the US dollar and The financial system After a long pause Janet said that the U.S dollar has made sanctions very Effective and that countries that have Been on the other end of these sanctions Are starting to look for Alternatives She said this will be difficult because There are no markets as deep as those in The U.S it is impossible to avoid the

USD Warren went on to ask about crypto and Whether Janet is aware that fincen Another part of the treasury proposed a Rule that would ban the self-custody of Crypto Janet said she was not aware of This proposed Rule and denied that the Treasury has been having discussions About this subject I can't say I believe Her especially since U.S Allied International organizations like the Financial action task force or fat F Have been explicit about their Intentions to eliminate all Non-custodial activities in crypto they Want everything to be done through a Centralized intermediary so they can Maintain control after some more Irrelevant questions from Joyce and very Niche questions from John Rose Josh Gottheimer grilled Janet over how U.S Regulators handled the banking crisis he Pointed out that their response has Resulted in more consolidation and that The bids of medium-sized Banks were Ignored Josh also took some time to Address the treasury's crypto scrutiny Janet reiterated that the SEC needs to Crack down on cryptocurrencies in the Spot Market that resemble Securities and That stable coins quote need a Full-blown regulatory framework she said That this is where Congress needs to act And fast

Josh finished by asking Janet how the U.S government will service its debt in A high interest rate environment the Short answer is by borrowing using new Money to pay back old debts it's what Governments do best after all in all Seriousness Brian stale was the 24th to Ask questions and he asked Janet whether Refilling the treasury general account Or TGA could affect the markets Janet said that the treasury is working Closely with Market participants to make Sure that any Market effects are minimal This is something that fed chairman Jerome Powell also addressed in his Recent press conference you can find our Summary of that in the description now Vincente Gonzalez was the 25th to ask Questions and he dropped the biggest Bombshell of the entire hearing not only Are U.S adversaries trying to get away From the US dollar but so are U.S allies Notably France and India Vincente asked What's causing this Janet didn't have a Clear answer Vincente did and he accurately Identified the cause sanctions He said that the U.S has been using Sanctions to the point that their allies Are starting to get concerned Janet just Repeated that it's impossible to escape The US dollar this prompted Vincente to Ask a question that made the headlines Will the dominance of the US dollar

Continue to decline Janet answered yes William Timmons was next and his Questions were similarly spicy he Started by slamming the treasury for Trying to introduce a rule that would Track every bank account balance he Spent the rest of his time pressing Janet about the US Dollar's Reserve Currency status among her responses Janet revealed that one of the Advantages of having the US dollar as The world's Reserve currency is that the U.S government has the lowest borrowing Costs before he finished William warned That if the national debt keeps Increasing nobody will bail them out He's entirely correct after some Irrelevant questions from Ayanna Presley Ralph Norman asked Janet about something That nobody is talking about and that's The fact that President Joe Biden Approved the Nordstrom 2 pipeline that Carries natural gas from Russia to Europe in May 2021 despite bipartisan Opposition Nordstrom 2 is still Functional FYI it's nordstream one that Was blown up Ralph asked Janet how Biden Approving the Nordstrom 2 pipeline is in Any way consistent with the U.S Government stance on Russia and its Recent sanctions against the country Janet was completely speechless spoiler It's not consistent and it begs a lot of Questions that have concerning answers

After some redundant questions from Stephen hawsford an unknown politician Asked Janet some interesting questions Now I don't know who it was because they Didn't announce the name and the Cameraman for this hearing seemed to Have a bit of a crush on Janet the video Was always on her still got it Janet Jokes Aside this unknown politician Asked whether Janet could use the power Of the World Bank and the IMF to push Back against the eu's ESG rules Janet Didn't have a clear answer but the fact That the question was asked at all just Underscores how influential these International organizations are Now Sylvia Garcia was the last to ask Questions and hers were quite Interesting she started by saying that Having physical cash is important for The US dollar to remain the world's Reserve currency she asked Janet whether Going fully digital would further weaken The U.S dollar status This is significant because it's a tacit Admission that there's an entire Underground economy that runs on Physical US dollars not surprisingly Janet didn't acknowledge this and didn't Even address the question directly she Just rambled about how digital payments Are becoming more efficient and are Still using the USD she also referred to The fed's upcoming fed now payment

System as the gold standard now given That fed now is a precursor to a Full-blown digital dollar Sylvia asked Janet how far along the fed and its Affiliates are in this process Janet Said that they're still debating whether Its issuance is appropriate Sylvia then Ended the hearing by thanking Janet for Ensuring that cash is King which makes No sense but okay So this brings me to the big question And that is how you can prepare for the Utter Insanity that was revealed during Janet's testimony the short answer is to Remove yourself as much as possible from This broken system but that is easier Said than done and can be impossible in Practice thankfully there are ways that You can hedge yourself and one of the Easiest is by making sure you have Alternatives to whatever it is you're Using So this means having alternative Currencies alternative assets and Alternative passports that will allow You to adapt to this changing Global Situation it also means having good Connections so that you can quickly find A new job if need be and having strong Connections with your local community so That you have backup Supply chains of Sorts if you think about it the best Defense is decentralizing everything in Your life currencies or otherwise the

Ability to adapt is key as is being Informed you need to have both to keep Your head above water it's scary to Consider that we are all ultimately Trying to survive the decisions of our Unaccountable politicians and corporate Elite but at the end of the day this is What we're doing from the public sector Side your wages are being eroded by Inflation because time is money this Means that your time is being taken away From you by fiscal and monetary Authorities it is of utmost importance That you preserve this time this Purchasing power as much as possible the Way that bitmex co-founder Arthur Hayes Approaches this problem is to see how Much money you need to preserve your Standard of living as measured by energy That's because your standard of living Fundamentally depends on your energy Consumption Arthur uses oil prices as a Proxy for this speaking of which if you Watched our video about individual Carbon credit scores you'll note that You'll also need to ensure that you can Continue to emit in an ESG obsessed World this means having enough carbon Credits on hand to ensure that you can Actually consume The energy needed to Live a good life Not Financial advice and I'll also note That most carbon credits are currently Worthless they do nothing to reduce

Emissions now on the private sector side Small and medium-sized businesses are Being squeezed by regulations many of Which are likewise rooted in ESG This is having the effect of forcing Everyone to work for corporations where It's impossible to make the money you Need to stay ahead of public sector Pressures it's also having the effect of Forcing everyone to consume from the Same controlled and surveilled Supply Chains again you want to do your best to Create or use alternative Supply chains That are as far removed from these Global corporations as possible this is Easier than you think just by local Always buy local better yet start a Small business that's impervious to ESG Mandates this is the best way that you Can build your networks and give you Access to all of the Alternatives that I Noted a few moments ago It's also a great way to build up your Community and help insulate it from all Of the above I'm confident that we will All survive and if we keep our eyes Peeled for opportunities in this chaos We might even thrive And that's all for today's video if you Found it as terrifying as I did Smash That like button so that other people Can get spooked into action Be sure to subscribe to the channel and Ping that notification Bell to make sure

You don't miss the next video As most of you will know one of the ways That you can hedge yourself against the Financial system is through crypto but Only if it's in your custody there is no Better place to custody your crypto than A hardware wallet and there's no better Place to buy a hardware wallet than the Coin Bureau deals page and while you're There consider checking out all the Other deals and discounts we have Including the Forty thousand dollars of Bonuses on the best crypto exchanges Might as well save money when stacking Sets right So the link to that will be down in the Description thank you all for watching And I will see you next time my name is Guy and this is goodbye [Music]


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