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My name is Ben.
I'm having to rerecord my Sunday drive video.
I had one for you guys earlier,
and my alarm clock,
as you guys know, I have to solve eight complicated math problems
before I could turn it off.
It just had to go off, and it ruined the video.
So I'm having to rerecord it.
I want to talk about
what's going on with some major banks right now.
This is some really crazy stuff.
And some people are going to tell you
this is horrible.
I think I got a different perspective.
I think this could actually start something
that could turn these markets around
maybe even faster than we've anticipated.
Now, we still stick with our November date for the bottom of Bitcoin,
but there's some very interesting things going in the macro--
going on in the macroeconomic world right now. Okay?
So, over the weekend, it's been reported that Credit Suisse--
that's S-U-I-S-S-E.
I assume it's a Switzerland bank.
But, you know, maybe I'll stay neutral on that.
It is basically insolvent.
Their business model no longer works.
And they're moving further and further into a hole.
Kind of like Celsius.
You know, they had a business model.
lt stopped working.
They kept doing it.
Credit Suisse,
a lot of people think it is about to, you know, totally collapse.
I don't know if that's going to be technically bankruptcy, insolvency,
you know, or something like that.
But it's not good.
Now, you also have Deutsche Bank,
which we affectionately refer to here at channel as "douche bank."
They have more money laundering fines than almost any other bank.
I think they had like $100 million money laundering fine
for money laundering customer funds.
So, anyways, I digress.
But the point here is this.
They're also in trouble.
However, there's a lot of doom and gloom about "douche bank" possibly going under.
But the pendulum may be swinging the other way for this bank.
Basically, they've instituted a new business model,
and they may actually be okay.
Some people are actually bullish
that it's bottomed and moving the other way.
Why do I talk about banks?
You guys know I hate banks.
This is extremely relevant to what's going on right now
in the United States and the world economy.
If you look at 2008,
what happened?
You had to have the bank bailouts.
The banks had to be bailed out.
Why?
They're too big to fail.
And then what happened?
We got a huge economic collapse.
So you're probably looking at this situation saying,
"Man, if these banks go under, this is not going to be good for the world."
The difference is,
this is happening in Europe,
whereas, for us, the major collapses were in the United States.
Why is that relevant?
Well, because of one Mr. Jerome Powell,
the president of the Fed,
as you guys know, or chairman of the Fed,
which, by the way,
all chair members of the Federal Reserve,
supposedly a "private" company,
chosen and appointed by the President and Congress.
So.
It's a government office,
if we're going to be really honest about it.
But the point here is this.
Jerome Powell has been raising rates.
Our economy has been, you know, not doing well.
The dollar around the world, however, is crushing every other currency.
It--
except for the Russian currency and some caveat.
Long story.
The point is,
almost every currency is getting crushed by the dollar.
The dollar is getting stronger and stronger and stronger.
Guess what's going to happen?
If they continue to raise the rates,
the dollar is going to get even stronger,
which means more downside action for Europe.
These are our friends in the United States.
We're very friendly with Europe.
You know, here at the channel, we love the UK.
Obviously, we love the UK.
We love to watch Mr. Bean on pitch.
We like baguettes.
We like baguettes in France.
We love, you know, red beards, Ireland.
We love it over there. Okay?
However,
the point is this.
These countries are in big trouble,
and they're going to start feeling major effects of our rate hikes.
If we continue to raise,
their economies will continue to go down.
Now, where does this put us with Bitcoin?
The markets in general?
There is an emergency Federal Reserve meeting.
I think it's tomorrow possibly.
I don't know. Maybe it was Friday.
They had an emergency meeting.
I don't think it's happened yet.
But they scheduled it.
Why?
This exact thing,
you're seeing Europe collapse right now.
You're seeing these banks on the verge of insolvency.
Jerome Powell has the power and the excuse to now stop raising rates.
The Treasury yields out of control,
usually a sign that you're going to see the rates actually cut.
Some people think we can see rates cut.
That goes against everything they said.
It doesn't make sense.
But it does.
Because if they cut the rates,
or at least pause the rates in the short term,
maybe not the next raise,
but maybe the December raise,
you know, will get paused,
like we predicted earlier in the year,
that will stop Europe from tailspinning.
The dollar will--
the DXY will start to come back down.
And what happens for Bitcoin when that occurs?
It's inverse.
When DXY goes down, Bitcoin pumps and goes up.
When DXY goes up, Bitcoin goes down.
That's what we've seen this entire bear market.
So,
if they stop raising the rates,
due to the pressure,
not only is it a good thing for us and our--
it's not good for inflation,
but it is good for Bitcoin and--
which a hedge against inflation.
And the thing about here--
the thing I had to really watch here
is Jerome Powell never gets any blame for anything.
The narrative here will be
Europe and international powers pressure Jerome Powell
to stop raising rates for the good of humanity
and the good of the world.
And Jerome Powell gets to go back to what he loves to do,
which is, you know, not control the economy,
just let it continue to roll out of control inflation,
which he's done ever since he's been in.
But he also gets to be the hero again.
He was the hero when we had the pandemic
and we printed the money and gave all the free money.
He's the hero now that we've been cutting the rates-- or raising the rates,
because he solely is in charge of controlling our financial futures.
I don't know for insider trading in that Fed.
But I digress.
But he also will be the hero of cutting the rates.
And now we'll start to see things even out in the currencies.
I can't guarantee you any of that is going to happen.
But that, in my opinion, seems to be where we may be heading
due to pressure around the world with the sinking world currencies
and the rising DXY.
Alright, guys. That's all I got.
Thank you to my lovely wife Bethany for recording this video.
Be blessed.
BitBoy out.