Hey yo, what’s the groove with my people, the daily recruits who never miss an episode
but if you're new around these crypto parts, you're just a lowly viewer of the tube.
My name is Tyler, the host of the crypto channel, that understands you don’t mess with girls'
social media posts.
Tiktok?
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, breaking 11k resistance, and touching 11.1k, but after
down and then the big dip Monday morning, below 10600 as of shooting this video.
The reason for this is oh so clear, stonks, got hammered Monday morning too.
The 1 week chart of the dow and Bitcoin, damn similar & if there was any doubt, BTC is 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 democrap
or repulicant.
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 & our government is doing nothing about it.
The headlines...bank shares Dip, with 2 trillion of suspect flows are under scrutiny, Global
Banks Reported $2 Trillion In Suspicious Transactions Over Two Decades, New Report Shows...and buzz
feed did a great article intro, that explains what is going on.
DIRTY MONEY POURS INTO THE WORLD’S MOST POWERFUL BANKS.
Money from drooga 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 & the government doesn’t stop the banks.
The Fincen Files, thousands of secret suspicious activity reports offer a never before seen
picture of corruption & complicity-and how the government let’s it flourish.
Yes it was FinCEN documents that were leaked, specifically suspicious activity reports SARS.
Banks are required to spot movements of money it believes is suspicious, and flag it as
a SAR.
This leak is a literal goldmine 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 failure by governments and the banks to take action.
Specifically in the US, the FBI is alerted about suspicious transactions within the United
States borders.
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 & 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.
HSBC filed the SARs to 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 that time, there was nothing left in them.
They had been cleaned and ready to be moved to other accounts.
That is just one of the stories, there are many from JP Morgan, Barclays, Deutsche Bank,
Bank of New York Mellon, Standard Chartered, Bank of China and even the United Arab Emirates
central bank.
And every case contains governments, not doing a damn thing.
The USA, Russia, the UK, China, Germany, Canada & more.
Sooooo, I will tell you right now, this is the reason for the stock market dip and thus
the crypto dip.
The Markets are scared of increased regulation & they should be, because our government even
before this, was talking about it.
Last week, thursday September 17th, FinCEN filed this, Advance notice of proposed rulemaking
(ANPRM) and the 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 in section 1, we can see the Bank Secrecy Act Advisory Group had some recommendations
and in monitoring & 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 or negative media…
Sooooo 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 st banks.
Although 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, Coindesk covered FinCen and SARs.
The article is titled “Less Than 1% of FinCEN’s Suspicious Activity Reports Since 2013 Mentioned
Crypto.
Criminals have been using banks, not crypto...
Now this first case isn't good & I’m not trying to paint it as a good thing, but it’s
the reality of this world.
Criminals will always be there, and they will always be looking to launder funds.
If their traditional system is shut down, they look for new systems…& some of them
are already using cryptocurrency.
I covered it 7 months ago, in a video titled bitcoin’s deadly use case china, cartels
and drooga money laundering...showing the rouge 100 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 the HSBC, once the ponzi coordinator had the funds “cleaned” by HSBC, he was
able to get the funds out, and then they are gone forever.
Banks each store their own ledgers, and 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’s 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 likely be stopped.
Now, I know some of you will be like HEY, but BNY Mellon, they were caught part of this
funneling funds for a crypto ponzi.
Onecoin.
Well actually onecoin, was fully finance 1.0, as they only accepted euros for deposits and
withdrawals on the exchange when it was functioning, for the token.
You wanna know how much they took in, the onecoin scam?
4 billion dollars worth,
To date, the US is looking to seize 400 million this year, from a convicted launderer & then
China in 2018 seized 268 million.
Sooo, only just over 16 percent of the funds have been recovered and traced, because of
Finance 1.0’s design, Onecoin had no involvement with BTC it was all fiat
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.
Hmmmm???
I wonder why this is being done?
Well ya of course, because it’s the future of money & finance.