I will be stunned if we don't have a recession in 23 I will not be surprised if it's not larger than
the so-called average Garden variety and I don't rule out but I don't rule out something really bad
billionaire investor hedge fund manager and philanthropist Stanley druckenmiller largely
considered one of the most successful investors in modern history has just put himself on record
in a long-form interview on CNBC he says he would be stunned if a recession doesn't happen
in 2023 a recession larger than average and he just has this feeling that something bad
is going to happen listen to this I will be stunned if we don't have a recession in 23
don't know the timing but certainly by the end of 23 I will not be surprised if it's not larger
than the so-called average Garden variety and I don't rule out not my forecast but I don't rule
out something really bad why because if you look at the liquidity situation that has driven this
um we're going to go from all this QE to QT we're following an asset bubble we've been doing all
this running down on the SBR which is now that's the Strategic petroleum Reserve it's now below 84
levels even though obviously oil consumption is much higher we've had a bunch of myopic policies
that have actually delayed the liquidity shrinkage QT has been almost entirely offset by Janet Yellen
running down the treasury savings account by the way pretty amazing policy she could have sold 10
years for under one percent during this time and said she runs down the treasury savings account so
all that has mass the liquidity shrinkage but it really comes into full gear and she can continue
this for a while we can do the SBR for a while stimulative stuff but by the first quarter of 23
it kind of goes the other way so our Central case is a hard Landing by the end of 23 but I
don't know the I've been wrong on a lot of things I could be wrong on this but since I
do it for a living that's our forecast which is a recession in 23. a larger than average
recession is not all that Stanley druckenmiller went on to predict in that interview welcome
back everybody to altcoin daily you subscribe for daily videos keeping you informed on the
entire cryptocurrency Market hit the Subscribe button join our team cryptocurrency could enjoy
a Renaissance As trust in Banks fade macro Legend Stanley drucken Miller has called for a possible
crypto Renaissance even as the global economy extends its suffering let's talk about this
druckenmiller said that he thinks that the U.S economy could suffer from a hard Landing
in the medium-term future adding that he would be stunned if we don't have a recession in 2023 Duke
agree with this do you disagree with this druckenmiller chose not to mince his words
as he discussed the Bleak macro picture he said that the U.S was in quote deep trouble and shared
an ominous warning that something really bad could happen due to the worsening state of the economy
however although druckenmiller's commentary may be enough to scare investors worldwide given
his phenomenal track record in playing Market Cycles he hinted there could be a silver lining
for crypto enthusiasts druckenmiller posited the idea of crypto Renaissance if people start to lose
trust in central banks do you think that Stanley druckenmiller's argument that cryptocurrency is
orders of magnitude greater from an adoption and acceptance a development and integration point of
view that if the US and the world has a greater than average recession the cryptocurrency could
see a new to Renaissance well you have to ask yourself is cryptocurrency orders of magnitude
ahead as far as acceptance adoption and stuff like this I'd argue yes chain link is building
a token infrastructure for Swift this is huge a collaborative proof of concept will allow Swift
messages to instruct token transfers if you're unfamiliar with swift they are the standard in
cross-border international payments the xrp Army has always been talking about Swift working with
them bitcoiners have always been talking about how Bitcoin will make Swift obsolete well Swift
is still very much part of the conversation and the fact that chain link that they're adopting
crypto they're adopting chain link rather than just Fall Into Obscurity this is huge chain link
and Swift have announced a proof of concept that will allow the International Bank Cooperative
to transfer cryptocurrencies across almost all blockchains meaning Swift could soon interact with
blockchain assets in a press release blockchain Oracle Network chain link revealed that a
collaborative proof of concept would allow Swift to instruct token transfers across nearly every
blockchain environment chain link added that this would allow financial institutions to
become blockchain capable without confronting High upfront costs and development challenges
the upcoming proof of concept will use chain Link's cross-chain interoperability protocol
ccip a global standard for cross-chain messaging data and token transfers that was announced in
August of 2021. listen to the announcement yourself at smartcon 2022 Sergey Nazareth
the founder of chain link with a representative from Swift talk about this partnership listen to
announce that we are working on an initial proof of concept together with Swift on the use of ccip
in the capital markets to enable the communications and movement of tokens between
you know a number of different institutions in a way that'll accelerate the adoption of DLT
blockchains and benefit various institutions all over the um Capital markets not everybody is aware
about Swift but I will I will try to explain it very quickly so Swift is a comparative is
an international Cooperative we run perhaps the biggest Network in financial services today for
Capital markets for payments for effects for trade we are headquartered in Belgium although we have
a sort of operations everywhere we have around 11 000 banks that are connected to Swift today
they exchange financial information in the most secure reliable and scalable way all right so
that's that's one just to frame it that the second piece is that the the the POC that we're doing
it's it's it's it's the end of a long story right I think five or seven years ago was the first time
uh Swift and chain link started working together you were actually one of the first startups that
we bet on you want the startup challenge that we used to have a long time ago and then even
before blockchain was something that at Financial Services had in their minds I don't think at the
time nobody was doing anything on blockchain on Financial Services Swift and chain link worked
together on the first POC that we did on bond issuance and Redemption it was quite successful
and that that was maybe the uh the first steps of this sort of Love Story between Swift and
chain link which continues today cryptocurrency adoption acceptance integration Partnerships is
without a doubt orders of magnitude bigger than it ever has been another one open C partners with
Warner Music Group on music nft what does this mean Well nft Marketplace open C partnering with
the U.S record label Warner Music Group means that artists who signed under Warner Music Group will
have their own drop pages on openc in an attempt to bolster fan engagement and build community
according to a Warner Music Group release quote from opencv president as a massive music fan
myself I'm thrilled to work with a partner who understands the significance of this technology
and wants to use it for good to empower artists to own their fan connections directly musical
artists and companies all over are adopting this technology you'll recall in February Universal
Music Group partnered with the entertainment nft platform curio to drop digital assets for
the record label and music streaming giant Spotify announced in May that it will begin trialing nfts
on its platform Spotify nfts are here to stay as you know Instagram has adopted nft technology you
can now connect your wallet to Instagram and post your quote digital Collectibles or nfts
on your insta timeline these are the wallets that they are compatible with what it would look like
for Instagram Mobley coinbase dapper metamask rainbow trust awesome to see so what are your
thoughts Instagram now advertising nfts or as they call them digital Collectibles but they're
working with ethereum and other blockchains it's great to see cardano edges closer to a make or
break point cardano is moving closer to the Apex of a descending triangle formation which is not
a bullish chart pattern that's not what I want to focus on what I want to focus on is Happy Birthday
cardano the cardano blockchain has officially turned five years old today since the Genesis
block five years ago cardano has grown rapidly to become one of the largest blockchain networks by
market cap with an expanding Global community in other news and again this is big if you realize
the potential future of this space Circle expands its usdc stablecoin support from ethereum to five
new blockchains the company also announced a cross chain transfer protocol to streamline the movement
of usdc across networks so Circle the company behind the world's second largest stablecoin
announced on Wednesday that it will soon be making usdc available on five additional blockchains
by early next year usdc will be compatible with arbitrum Cosmos near optimism and polka dot quote
from circles VP of product extending multi-chain support for usdc opens the door for institutions
exchanges developers and more to innovate and have easier access to a trusted and stable digital
dollar usdc should function on arbitrum near optimism and polka dot by the end of the year
the company stated today compatibility with Cosmos is expected to launch by early 2023 so the writing
is on the walls my friend you can see the way this industry is trending you can make educated
guesses for the future of this industry being multi-chain cross chain Bitcoin ethereum chain
link and so much more subscribe to the channel we keep you updated on a daily basis see you tomorrow