[Music]
hey yo what's the groove with my people
the daily recruits who never miss an
episode the chico army
but if you're new around these parts
you're just a lowly viewer of the tube
know what's up my name is tyler the host
of the crypto channel
that understands you don't mess with a
girl's social media posts
[Music]
tick tock shoot put her in the ufc it's
time
for chico crypto
well that sucks not the hair pull but
bitcoin getting dragged back down
yesterday
after looking bullish over the weekend
we broke 11k resistance and touched 11.1
k
but after that down and then the big dip
monday bouncing off of 10.4k
as of shooting this video the reason for
this is oh so clear
stunks they got hammered monday morning
too the one week chart for the dow
and bitcoin dang similar and if there
was any doubt
btc isn't following the legacy financial
system
i think that is gone now but what was
the reason for stonks to fall flat on
their face
well if you search by mainstream news
this is what you will see
from both sides democrat or republican
we fell because of the rona as fears of
it mount once again huh nah sorry
charlene it's because finance 1.0
was exposed with their entire pants on
the floor
exposing exactly what is going on banks
are moving a ton of money for criminals
and our government is doing
nothing about it the headlines bank
shares dip with 2 trillion of
suspect flows are under scrutiny global
banks reported two trillion in
suspicious transactions
over two decades new report shows and
buzzfeed did a great article intro that
explains what is going on
dirty money pours into the world's most
powerful banks
money from druga cartels organized crime
rings corrupt leaders
money that funds terror bloody global
battles and human trafficking
all laundered clean the banks don't stop
the money
and the government doesn't stop the
banks the fencing files thousands of
secret suspicious activity reports
offer a never-before-seen picture of
corruption and complicity
and how the government lets it flourish
yeah it was fencing documents that were
leaked specifically suspicious activity
report sars
banks they are required to spot
movements of money it believes is
suspicious
and flag it as a sar the leak is a
literal gold mine of these sars which
paints a picture of how some of the
largest banks in the world
have criminal customers and they filed
the sars as required
but there was a failure by governments
and the banks to take action
specifically in the u.s the fbi is
alerted about suspicious transactions
within the united states borders and
with u.s
banks the feds are supposed to look at
it do the tracing of transactions
and if they suspect fraud or illegal
activities they tell the banks to freeze
or take action
but in reality governments and their
investigating bodies were turning a
blind eye when they shouldn't have been
for decades and because of this the
banks started being compliant
too hsbc is specifically
named working with a ponzi coordinator
world capital markets
and laundering millions for them hsbc
filed the sargs to the federal
regulators which detailed almost 30
million in suspicious transactions
yet nothing was done even when
regulators in california
specifically the department of business
oversight issued the alert about the
scheme
although finally the sec decided to step
in and file charges forcing
hsbc to shut down the accounts but by
then there was nothing
left in them they had been cleaned and
ready to be moved across
other accounts this is just one of the
stories there are many from jp morgan
barclays deutsche bank bank of new york
mellon standard charter
bank of china and even the united arab
emirates
central bank and every case contains
governments
not doing a dang thing the usa russia
the uk china germany canada and more
so i will tell you this right now this
is the reason for the stock market dip
and thus the crypto dip the markets they
are scared of
increased regulation and they should be
because our government even before this
was talking about it last week thursday
september 17th vincent filed this
an advance notice of proposed rulemaking
and this document
seeks public comment on potential
regulatory amendments to establish that
all covered financial institutions
subject to an anti-money laundering
program requirement must maintain an
effective
and reasonably designed anti-money
laundering program
scrolling down to section one we can see
the bank secrecy act advisory group
had some recommendations and in
monitoring and reporting it said this
recommendation
clarifying expectations and updating
practices
for keep open letters and suspicious
activity monitoring
investigation and reporting including
sars based on grand jury subpoenas and
negative media
so now that this is out in the open i'm
sure the sars program is going to get an
overhaul the pressure will be on which
isn't good for finance 1.0
including those nasty wall street banks
which in reality this is actually a good
thing for cryptocurrency
bitcoin and the system being built
called finance 2.0
so just in may of this year coindes
covered fenson
and sars the article is titled less than
one percent of vincent's suspicious
activity reports
since 2013 mentioned crypto criminals
have been using banks
not crypto now this first case of why
this is good for bitcoin and i'm not
trying to paint it as a good thing
but it's the reality of this world its
criminals will always be there
and they will always be looking to
launder their funds if their traditional
system is shut down
they look for new systems and some of
them are
already using cryptocurrency i covered
it seven months ago in a video titled
bitcoin's deadly use case
china cartels and druga money laundering
showing the rogue hundred otc brokers
chinese underground banking systems
and more now these criminals are dumb af
because they are using bitcoin which is
fully traceable
but this leads me into why it's another
bullish case for
crypto going back to hsbc
once the ponzi coordinator had the funds
cleaned by
hsbc he was able to get the funds out
and then they were gone forever
banks they each store their own ledgers
and they do their own
record keeping that is why once funds
are clean
they can go kapoot as they can be
transferred through a spiderweb of banks
leaving no trail behind
it's finance 1.0 achilles heel
although bitcoin is a fully immutable
public ledger and every transaction can
be tracked verified and confirmed
if that ponzi coordinator would have
used btc it would be known where the
funds are today
and could be likely stopped now i know
some of you will be like hey but pny
melon they were caught part of this
thing
funneling funds for a crypto ponzi one
coin
well actually one coin was fully
financed 1.0
as they only accepted euros for deposits
and withdrawals on the exchange
when it was functioning for the token
you want to know how much they took in
the onecoin scam 4 billion dollars
today the us is looking to seize 400
million this year
from a convicted launderer and then
china in 2018
seized 268 million so only just over
16 percent of the funds have been
recovered and
traced because of finance 1.0 design
onecoin had no involvement with btc it
was all fiat
so the case of a public ledger is on
full display
even if that doesn't mean btc it means
banks are going the way of blockchain
aka triple entry accounting just last
month
following the occ's letter about banks
being allowed to offer crypto services
many of the banks responded saying that
yes they would
love to provide these services
hmm i wonder why this is being done
now well yeah of course because it's the
future of money and finance
but like i've been saying prepare for
the worst come
in the fall beginning of winter crypto
it's following stonks obviously
in finance 1.0 by that time the reality
of the global situation
will set in and a possible second
shutdown
will be the nail in the coffin this is
just a little preview
come post november no matter what
happens who's elected
the world we are used to will be over
corporations they know it governments
they know it
banks they know it the priority lately
has just been to keep
public order they won't be able to do
that for long and if they want to
survive
post this they better integrate with
crypto
cheers viewers i'll see you next time
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