Bitcoin And Crypto is Going To EXPLODE Because Of This…

Bitcoin And Crypto is Going To EXPLODE Because Of This…

so Peter McCormack posted this video this guy is the chair of Cil of economic advisors the main agency in charge of advising presidential Biden right now and this guy has no clue whatsoever in terms of how money works if you thought you were clueless this guy is even more clueless take a listen to what he said it’s absolutely mindboggling that you have guys like this in charge okay that are supposed to be advising the president of the United States all right listen to this the US government can’t go bankrupt because we can print our own money it obviously begs the question why exactly are we borrowing in a currency that we print ourselves I’m waiting for someone to stand up and say why do we borrow our own currency in the first place like you said they print the dollar so why why does the government even borrow well um the uh so the I mean again some of this stuff gets some of the language that the mm some of the language and concepts are just confusing I mean the government definitely prints money and it definitely lends that money which is why the government definitely prints money and then it lends that money by uh by selling bonds uh is that what they do they they um they do they yeah they they um they sell bonds yeah they sell bonds right because they sell bonds and people buy the bonds and lend them the money yeah so a lot of times a lot of times at least to my year with with mmt the the language and the concepts can be kind of unnecessarily confusing but there is no question the government prints money and then it uses that money to um uh uh so um yeah I I guess I’m just I don’t I can’t really talk I don’t I don’t get it I don’t know what they’re talking about like CU it’s like the government clearly prints money it does it all the time and it clearly borrows otherwise we wouldn’t be having this Deb and deficit conversation so I don’t think there’s anything confusing there wait what he doesn’t think anything’s confusing there he was send he was saying that the government prints money and then lends money by selling bonds he has no clue what he’s talking about the US government borrows money by selling bonds okay it’s a IOU that’s what bonds are you buy our bonds pay us money and we’ll give you interest right that’s why it’s the IOU that’s how we bought borrow money as a nation we sell bonds we don’t print money and then use that money to create bonds to lend it out no that’s not how the system works anyways I know that could be confusing to some but someone in his position especially he’s the chair okay not just like an analyst he’s a chair of conso of economic advisors as someone that’s a chair he should know what he’s talking about that that was so painful uh anyways he may be another reason why bitcoin’s will go higher because he’s literally advising our president that hey we could just print more money just keep printing it’s okay we always have done it let’s just print more and then let’s lend it out somehow right let’s just print more money and lend it out and all will be well don’t worry about infl if if fed if fed share pal saw this uh he’ll be rolling over in his bed sort of speak pal pal probably just had a a stroke watching this video for the first time in a year we have the fear and greed index showing fear and after today it probably go back to neutral again okay but things move really quickly in crypto uh and that includes sentiment not just price sentiment changes rapidly just last week we were in in greed and somehow we’re in fear um but here’s the thing who’s selling right unfortunately according to JB Morgan it’s the retail investors it’s not the institutions maybe a little bit for the institutions but mostly the selloff is led by retail investors what we call uh paper hands okay paper hands they or lettuce hands whatever you want to call them uh they can’t stand the pressure the heat so they have to sell off right I could understand people sold off at 73,000 or 70,000 but you don’t sell off when we’re at 56,000 okay that just doesn’t make a whole lot of sense but according to jam Morgan that’s who we selling retail investors and unfortunate when retail investors were selling you know who was buying I think you guys could guess who Wales but you know what like I said Mr 100 he is no regular retail investor in fact since today beginning of the day to end of the day this Mr 100 purchased 4,000 Bitcoin I think he decided to make up for his break because between 4:22 and 52 he did not purchase any Bitcoin and this morning start out strong and he never stopped imagine purchasing 4,000 Bitcoin in a single day no one knows who this is it could be Elon Musk it could be Jeff Bezos it could be I don’t know and it could be Larry fin himself but someone is purchasing massive amounts of Bitcoin that’s how it should be done you buy when Bitcoin is low when prices are low that’s when you’re supposed to buy you’re not supposed to foam all the way up now now we did have our having event and some people are still quite confused well George we had the having event why is Bitcoin not going up why is Bitcoin stagnant and why is Bitcoin coming down where’s my Lambo according to help in the live chat it will come you just have to be patient and wait because if you look at previous Cycles same thing okay I’ll even zoom out for you guys I’ll go to the weekly scale right now and then I have what is it the the having indicator right look at look at this two having ago we had a having event in July and look at how long it took it took literally like almost uh what eight months before having really had effect on bitcoin and it start Sky rocketing okay two cycles go one cycle ago the having event was in May and then look at it it didn’t really start moving until October or September you could say that took a little bit right five to six months so it could be the same thing right now maybe we got to wait two months maybe we got to wait three months right we just had having maybe we’re not going to see movement until here August or September or even October we got to wait a little bit but look at where we are right now versus where we were the last cycle and the cycle before at the having event I mean two cycles ago Bitcoin was only at like under a thousand and the last cycle when we had to having event Bitcoin was below 10,000 so yes Bitcoin went in doubt zoom out it just keeps on going up and up and up and you just have to have some patience okay maybe we have wait two months maybe we got to wait four months maybe we got to wait 6 months but the but the parabolic Bull Run is going to come and it’s going to be glorious and that’s when the Lambos start flowing

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0:00 Economic Advisors
4:10 Fear and Greed
5:23 Mr 100
6:28 Bitcoin Halving