BitCoin Ben – Bites and Bombs – Bonds and President Trump Nationalizing the Federal Reserve
9:45 Issues with Steem Platform, original adopters are “whales” and hard for new comers to get traction on that site.
11:01 “GirlGoneCrypto” – did video today about it. https://www.youtube.com/watch?v=z8oNlYEBXSY
Was like Binance and Tron took over the blockchain using the number of Steem tokens they have, kind of like a “hostile takeover”. They used the voting algorithm to basically take over the blockchain. They did something, then people noticed, and they switched it back.
13:00 Are smartphone wallets safe, which ones?
Exodus, Loaf, Bread … make sure you write down your phrases.
Watch videos on “How to use xxxx Wallet”.
17:00 Federal Reserve Talk: Getting ready to drop the rates, maybe even negative. That will pump money and devalue existing currency.
Currency system is like plumbing and has various valves, and money flows into them to relieve pressure on currencies.
19:05 .50 base point cuts verified, meaning price of loaning money got cheaper; there will be a lot of refinancing; not enough to save the bond market. They will need a few 1 point cut…
Used to be same rates on 1 month, as 1 year, and 10 year or 30 year bond. When they are close, there is on reason to buy the longer term 30 bombs.
The 10 year bond is the important one, it sets the other interest rates, such as house, car loans, etc… Most home loans only go 7 years.
22:50 Trump wants 0% interest on Federal Reserve rate. Federal Reserve charter reserves every x years. When rate is at zero, it no longer has positive or negative influence on the overall market, and then Trump can use executive order to eliminate the Federal Reserve (nationalize it into the Treasury).
25:10 After 9/11, secret service was removed from the Treasury department, and was put under Homeland Security; Trump and Mnuchin (Secretary of the Treasury) want to move it back.
26:50 Anything dealing with money must originate in the House of Representatives (he said that’s why Obama Care is “illegal” because it originated in the Senate).
Original reason for Secret Service was to keep an eye on currency, not to protect the President.
Andrew Jackson is the only President showing in Trump’s oval office. Richard Nixon also loved Andrew Jackson.
30:00 Richard Nixon was actually trying to correct the system.
Back in that day we only had 5 TV channels, and they went off at midnight. The put out the story “they wanted to put out”.
Ronald Reagan also a fan of Andrew Jackson.
32:12 Trump’s inauguration speech – he is bringing power back to people. He mean bringing currency and structure of the federal government back to the structure of the constitution.
Under the constitution individual were not taxed; the federal government was funded by tariffs.
When running company on tariffs most important things is GDP (Gross Domestic Product).
36:35 For the last probably 15 years, we have had a trade deficit, we brought in more than we shipped out, and that goes into the GDP.
Trump created tax haven zones which include St Louis, Flint Michigan, areas around Chicago… thru tax incentives, they incentivize entrepreneurs to create industry in those areas, which have human capital but yet depressed areas.
42:00 talks about Bushes, JFK, Jack Ruby.
Landlord of Jack Ruby’s “club” was George Bush.
46:26 Back to Trump and interest rates to zero, should land right after the election. After he nationalizes the Fed, the globally elite will “lose their mind”. 1/2 of Elite in Iran just got the Cornoa (Covid19) Virus.