Breaking: BRICS Announcement & What It Means For Bitcoin

Breaking: BRICS Announcement & What It Means For Bitcoin

Welcome Back to Black Cat crypto club we have had some news this week on the bricks Nations uh dollariz so we’re going to get into all of that what it means for crypto what it means you know for the dollar all of that stuff and more but before we get into that guys I I have some apologies that I want to make today and the first one goes back to my last video I believe the one on the SEC lawyers being fired for perjuring themselves in that case against Deb boox a cryptocurrency uh company and in that video I kind of said you know don’t you know you shouldn’t always do what your boss says if if things aren’t right you know you should really stand up for yourself and I do hold that position however I did kind of come out and I I kind of said you know if if your job is making you do these horrible things you shouldn’t be at that job anyway and I realized you know after I said that and after I posted that video it just kind of graded on me and I I know things aren’t that black and white now I haven’t gotten any bad feedback on on that and I’ve actually been told that I’m overthinking this but I did want to apologize I know that’s not it’s not always that black and white people need to do what they need to do for employment uh and so I do apologize for that if you took offense to it my main point was that we do have more power as individuals than we think so when you’re thinking that you have no power you have no way to really affect the world you need to rethink that because we all have more power than we really think and that was my main point so there’s my first apology I do have another apology to make but that actually kind of has to do with the news here so let’s get into that we on Tuesday this broke this news of brics and it says brics is considering launching stable coin for international trade settlement now guys if you watched my video on the having that I did at that live stream on the having date we talked a lot about bricks and I said you know the bricks if you if you watch all the moving Parts it’s likely that brics is going to use blockchain technology to launch a settlement coin that they can go off the dollar with and it’ll probably be backed by gold and it’s just all these parts coming together if you saw that you could see the whole picture coming together but they hadn’t announced that it was going to be anything blockchain before now now they are actually announcing that they are going to use blockchain technology to launch this stable coin um and it says speculations are that the stable coin would be backed by gold considering the huge Holdings of brick bricks Nations and that is exactly what I was saying on that having date live stream and so this is where my second apology comes in um in that live stream I said you know my every once in a while you know my pulse is right there on or my my thumb is right there on the pulse other times it’s far from the pulse and this is actually what was going through my mind this is a quote from a movie roll the clip here’s the pulse all right and this is your finger far from the pulse Jam straight up your ass say would you like a chocolate covered pretzel so so that is what was going through my mind and that’s basically what I said on that live stream and my apology is I’m sorry for that image guys I I apologize but as is easily seen Kevin Smith is a horrible horrible influence on me so uh the only thing I can do is point my finger and blame Kevin Smith so anyways guys getting back to this news uh this third point in this article this is absolutely ridiculous guys xrp enthusiasts the xrp Army hint at bricks leveraging xrp’s upcoming stable coin and that is just absolute nonsense guys if if you’re an xrp army guy and you’re watching this or person uh girl gal whoever and you’re watching this know that I’m not really talking bad about xrp uh but guys think about it think about it you think China and India and Russia and Brazil are all going to go off the dollar because they’re they’re sick of being sanctioned by the US uh and and having that dollar held weaponized against them just to get back into a stable coin of a US based company who is beholden two us laws and the US government you think they’re going to trade in the dollar to get right back into something where they can be controlled by an American company no it’s that is ridiculous I mean come on think about it for a second okay so getting back into this um you know basically the the Russian Deputy foreign minister Sergey riab ryabov who highlighted the benefits of that stable coins could add to the group um just kind of goes into their thought on on getting away from us sanctions um and the US dollar and how how a stable coin is probably the techn that’s going to be able to do that the best now listen when what does this mean for the dollar let’s let’s get into that it’s not going to be great guys and and in in that having video we talked a lot about this and I actually said that it’s a national security threat which really is true however you know as Trump says going off the dollar for these countries to go off the dollar is an act of War it’s not I mean who can blame somebody we have the US has literally weaponized the dollar and we do this by uh the Swift payment system we freeze foreign foreign uh countries assets we seize foreign countries assets and the these countries are sick of being bullied and having the dollar used against them so they’re going to dump they’re going to dump US Dollars they’re going to dump us bonds and it’s going to saturate the market and inflate the dollar and weaken the dollar uh the dxy will crash on this and I I say crash I it it’s not going to go to Zero by any means but it’s not going to be good for the dollar and I don’t like that like I I don’t want to see the dollar crash I don’t want you know I don’t it’s going to be horrible for our economy for my friends my family anybody that’s in the dollar for me personally it I don’t care personally because I don’t hold dollars I am 100% into Bitcoin and cryptocurrencies uh so it doesn’t that won’t really I mean it will affect cryptocurrencies in one way or another but it’s not going to affect me directly it’s going to affect me by seeing my friends my family and being in this economy feeling that pressure on the economy and I don’t want to see that but guys again we have done this to ourselves when we decided to weaponize the dollar we we we should have seen that we were shooting ourselves in the foot um so we have no one to blame for this than than us uh than the US government and so for Trump to say that it’s a a a Act of war and that he’s going to go after these countries for going off the dollar is is a bit ridiculous and you know Biden’s no no better he’s come out and said oh it doesn’t matter if those countries go off the dollar we believe that every country should have the freedom to use whatever payment they want which is complete BS you know either he’s too old and scile to know the effects of these countries going off the dollar or he’s just trying to be politically correct and come off as uh something that the US government absolutely is not so yeah uh they plan on going with a stable coin probably backed by gold that isn’t confirmed yet but that is exactly what I was saying in that having live stream which is crazy timing because this was not three days L later after I said all those things that this story broke now this stable coin in this AR article it goes on and kind of says how how well these countries are going to benefit from using a stable coin like this and that is true however not necessarily true for the citizens of those countries this will more than likely be a centralized stable currency which doesn’t really give your citizens the po the power that they need um but that’s kind of the case with a lot of stable coins if you think about um Circle usdc tether usdt um a lot of the stable coins are centralized so what that means is you know if the if the US government says well freeze this wallet says goes to usdc and says freeze this wallet maybe us SDC gives up a fight and says you need a warrant for that maybe not who knows but essentially they are permissioned blockchains so they’re not as self- Sovereign as Bitcoin and some of these other coins so just know that however getting into stable coins when when stable coins first came on the scene it was right around 2020 and when they first came out I was like what what is the deal with these like who wants to be in a cryptocurrency that is pegged to the dollar it didn’t make sense to me and so I I have a feeling that maybe a lot of you kind of feel that way as well but since then I I have completely reversed that thinking I’ve seen how much stable coins actually benefit the blockchain chain and cryptocurrency um Arena the uh ecosystem and it makes it makes things so much easier it brings liquidity to to the system you can actually use these decentralized exchanges a lot easier and I use stable coins all the time now so it it took a while for me to really understand the value of stable coins but it does very much enrich this uh cryptocurrency ecosystem so we need to get in and look at this um this is a kind of a um forecast of what the stablecoin uh future looks like and it says the brokerage firm be Bert barstein recently projected that stablecoin market will hit three trillion in 2020 8 that’s a massive number particularly considering it’s at $130 billion Market at the end of December to 2023 so that is a huge huge Market that is just going to be exploding and we and we can see that uh in in all of these companies that are coming forward now and making stable coins we have xrp that is doing a stable coin now we have going back over here we have Wyoming guys this is the state of Wyoming and this was this was uh article from January but or September this was from September 2023 but they have since this article came out they have the U uh the the Wyoming government had has approved this stable coin for their state now this brings up um a lot of questions a lot of issues and it says right here however the idea of State stable coins raises many questions how would they affect the monetary stability of Fiat money and the power of the Federal Reserve could they be com compatible with Central Bank digital currencies do people really want to return return to a system with State Banks printing their own monetary notes so that is all a good point honestly um you know whether it be Wyoming State uh stable coins or Central Bank digital currencies all of that really plays against people um it it gives the government a whole lot more control than they’ve ever had and we’ll just leave it at that but these stable coins will bring more and more adoption and people into the blockchain uh community so it will benefit other coins like Bitcoin it’s nothing that I would personally get into at all like I would not use a state uh stable coin just personally there are decentralized stable coins uh one is maker Dow and I’ve kind of talked about this but um those are the coins that I am a little more interested in because they’re permissionless they’re decentralized um and they’re actually maker Dow is kind of a system where it’s run by a few different coins and it it’s run algorithmically and it just kind of pegs it to the dollar um so no one company is in control now there’s benefits to that and there’s benefits to these other ones usdc actually has a yield that you can get and so there’s there’s benefits here and there for different ones but here is another new one guys this is from about two weeks ago and Sony has come forward and said that they are entering into the stablecoin arena they’re going to make their own stable coin and this is big because a company like Sony this is go just going to drive adoption of cryptocurrencies even though it’s not directly related to bitcoin or anything like that this will bring people into the cryptocurrency community now what these guys will do probably probably is they’re going to be offering this stable coin to buy their products and services so you’re going to be able to get $200 worth of Sony’s stablecoin and you’ll be able to go to the PlayStation Network and buy your games or buy a TV or a camera or whatever it may be but the point is guys is this is going to bring people that have never ever been into cryptocurrency into this space and then they’re going to slowly this is kind of a a Gateway coin cryptocurrency coin if you if you will and it’ll just bring more and more adoption more and more liquidity to the entire space so this is all exciting stuff guys but you know the the ultimate thing is going back to this bricks uh thing is bricks all these nations it’s not even just the five nations anymore guys you know it’s uh originally it was Brazil Russia India China and South Africa and now as I was talking about in that having video um Iran is part of Bricks now there’s a lot more companies joining more and more every day and they’re all sick of the US dollar being being weaponized against them so they’re all going to be dropping the dollar they’re going to be dropping us bonds and it’s not going to be good there is going to be some inflation in the dollar because of that and there is no other no better hedge against inflation than Bitcoin I mean get out of the do like at least have some contingency like you’ve got to have some of your your savings outside of the dollar whether that be gold or Bitcoin or whatever just protect yourself because this is coming and it’s not going to be great for the dollar and you know gold gold is is whatever let’s jump over and just look at what gold has done I mean the fastest horse in the race is definitely Bitcoin but this this is what gold has done in the last 12 years guys and if this isn’t the definition of sideways action I don’t know what is I mean let’s just take I mean what percentage has has gold gained over the last 12 years 39% and I’m not even sure that keeps up with inflation because if you look back in 2022 right here uh it is now estimated that you know CPI estimated in uh inflation in 2022 at 9% almost 10% but guys you’ve got to remember that CPI is supposed to be a needs-based inflation however in 1982 or 1983 they took housing out of CPI because they knew they couldn’t make the numbers what they wanted it to be so they took housing out of CPI and now with CPI excluding housing they can make that 2% work uh that 2% goal but they’re they’re struggling with that even now but if guys if you go back to 2022 and and Factor housing into inflation that 10% inflation rate that we saw in CPI actually jumps to 20% inflation if you include housing which is a need So 20% inflation in just 2022 this this 39% that gold did over the last 12 years doesn’t look so hot so I don’t know uh let’s jump over and look what Bitcoin did in that same period now I’m going to start so if you watched um when we when we did that gold we went from the top of this red candle this is where price started in this year and it dropped in this red candle now we go over to bitcoin and it’s a different thing we have to start at the bottom of this green candle because during that year it went up this much so let’s take that measurement uh same time period for [Laughter] Bitcoin I mean this is just ridiculous to to even compare this went Bitcoin in the last 12 years went up 4 77,4 35% uh in comparison to Gold’s 39% um but I mean that’s that’s not a real good um comparison let’s just throw that completely out the window because if you were getting into Bitcoin clear back in 2013 like I was you were extremely early you’re still extremely early today um we’re there’s uh some information that’s come out that actually says that Bitcoin right now is at the adoption that the internet was in 1997 guys so if you think about that I mean I wasn’t even using email in 1997 um I was about a I was almost a senior either a junior or senior in high school and I did my one of my senior papers or something on I had to use the internet and do this paper and we didn’t have Wikipedia back then that would have been a a godsend for this paper but there was nothing like that it was very early very primitive the the information that was on the internet was pretty bad to be honest so we’re we’re so so early in Bitcoin is the point um but let’s let’s just do a few more measurements let’s just take the measurement of what we did last year or this year this is this year we’ve we’ve had four months and we have gone up what does that say I can’t even read it let’s do this again this year we have gone up 45% in in 4 months versus Gold’s 39% over the last 12 years okay so clearly Bitcoin is the fastest horse in the race it’s the best asset against inflation so I don’t know if you want to be in Gold have at it but it is very very dull compared to bitcoin and all I’m saying is you need to have that contingency get out of some of your dollars at least and be in something that is going to HED you against that inflation because when bricks does decide to go off the dollar we are going to see some inflation like you’ve never seen before so anyways guys before we go as always if you have not helped out the animals over at Emery Farm Sanctuary please go over and help them out means a lot to me I have no connection with these guys but it is an issue that uh really really is dear to my heart uh go over and help these guys out a few dollars is all it takes guys and this is a small Sanctuary so any amount really goes a long way to help these animals out so please go go over and help them out all of their information is in the description of the video it means a lot to me you know there’s PayPal cash app VMO any of those works a lot or works well and like I said just a small amount really helps them out a lot so anyways guys I will see you in the next video bye

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Credits:

https://www.fxstreet.com/cryptocurrencies/news/crypto-community-reacts-as-brics-considers-launching-stablecoin-for-international-trade-settlement-202404240059

https://www.americanbanker.com/payments/list/who-will-drive-stablecoin-innovation-in-2024#:~:text=The%20brokerage%20firm%20Bernstein%20recently,the%20end%20of%20December%202023.

https://cointelegraph.com/news/wyoming-stablecoin-digital-currencies

https://www.linkedin.com/pulse/sony-ventures-web3-stablecoin-initiative-polygon-alessandro-benigni-7s3le

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