I hope you guys don't lose big money in Crypto. It's dog shit. I read the original white paper on Bitcoin and I knew immediately that it was all dog shit sprinkled with human sh*t and topped with a cherry that all the non-tech people see and start screaming cherry cherry baby ~~~ lol. This whole concept has so many flaws that I don't know where to begin.
Im really no fan of Bitcoin and Cryptos in general. I think it was initiated by Intelligence Agencies. Maybe one day they will go to Zero. But before I'm pretty sure we will see BTC higher, not to say much much higher. I think Biden's regulations will help with that.
Now if Microsoft issues 21 million alt coin representing stocks of Microsoft and govt. law enforces that each coin represents a share and real ownership in Microsoft THEN we talking and I will buy.
Still 1. danger that 256 bit encryption can be broken some day. 2. So much mining power is needed for all these that we need power of all the stars
food for thought------In any event, this article is not about the fake science that has dominated IPCC reports, despite the reality of climate change, so let’s return to the topic at hand. The above digression was simply meant to illustrate how easy it is to sell millions on an idea, even if the idea may be completely fabricated, as long as the idea is wrapped in pretty paper and tied with a pretty bow. Whether or not the speculation that BTC was created for the purpose of freeing humanity from the enslavement of fiat currencies doesn’t detract from the fact that this narrative has served this purpose of diverting money away from fiat currencies’ former Public Enemy #1, physical gold, quite well since its creation.
In addition, since reaching a $100B market cap at the end of October 2017, BTC’s market cap has increased over eight times to a market cap of $837B as of February 2022. And though the global market cap of $12.2 trillion of gold at the present day spot gold price of about $1,850 per ounce amounts to a market cap 14.5 times that of BTC, in November of 2021, the total global market cap of cryptocurrencies was nearly $3 trillion, a figure that is a significant percentage of the total gold global market cap. And even though nearly half that market cap had been wiped out as of the end of January 2022, at $1.7 trillion, that still amounts to a significant percentage of the estimated global market cap, even if it is highly likely that this market cap is underreported (per the explanation provided here).
The Setup
Yes, that was a lengthy preface, and you may ask why the long set-up to the question, “What market more than sixty times in just the last ten months?” Number one, I wanted to establish the absurdity of this market growth by pointing out that as much as Bitcoin has been in the media headlines non-stop for the past four years, its market cap has only grown a little more than eight times in more than four years, as compared to this market’s growth of sixty times in just ten months.
Furthermore, I wanted to point out that in topics of finance (and global warming has most definitely been a profit making business for decades), a propaganda narrative is almost always attached from day one, embraced and accepted by the entire world, that contributes to massive growth of such markets. However, the growth of this market reflects just the opposite. The massive growth of this financial market has been met by complete silence and zero coverage by the mass financial media, a fact that indicates that Central Bankers would much rather you not know about the growth of this market, and that widespread knowledge of this explosive market growth does not serve their agenda, whereas incessant media coverage of global warming and cryptocurrencies does.
The Revelation
In the last ten months, from last April to present month, the market cap of cryptocurrencies has grown about ten times. So any way we slice a growth rate of sixty times in ten months, this growth rate is massive and extremely important. What is this market? It is the overnight reverse repurchase (ONRRP) market, and the sixty time growth rate is readily apparent in the below charts. The ONRRP market size hit an astonishing high of nearly $2 trillion on the last day of last year.
Since then, the ONRPP market has settled slightly, but it still remains extremely elevated at a $1.7 trillion daily mark as of February 2022. This figure is a startling sixty times greater than the $30B or so that was traded daily just as of April of last year. And though I realize that when compared to the asset size of some of the largest financial institutions like Goldman Sachs, $1.7 trillion is not a massive figure, it is a massive amount if one realizes that all bankers realize that keeping that much in cash on their books is net negative due to soaring rates of real inflation, and that no banker likes keeping large amounts of cash on their books if at all possible.
Though the mid-2021 figure for total US deposits grew to more than $18.1 trillion by the end of last year, this figure is not representive of the total cash in the US banking system, and in fact, typically less than 1% of MMF deposits were kept in cash reserves (despite many Americans still erroneously believing the RRR is 10% for US banks), especially since on 15 March 2020, the Feds effectively lowered the RRR of US banks to 0%, as stated in this press release, that they had “reduced reserve requirement ratios to zero percent effective on March 26, the beginning of the next reserve maintenance period.”
The Facts
I have spoken, quite frequently on my news site, of the importance of the repurchase markets in providing liquidity to the US banking sector in past years. In fact in October of 2020, I wrote in this article the following observation:
“In the first two months of 2020, US Central Bankers reduced the aggregate operation limit of each operation to $30 billion to $120 billion, leading the mass financial media to falsely report that the US banking system had shored up its problems. However, by early March of this year, US Central bankers ramped up the aggregate operation limit of each operation back up to $500 billion, where it has since remained as of October 2020.”
However, as you can see in the below chart, the massive increase in the operational limit per institution in the overnight repurchase (ONRP) markets was merely a diversionary tactic used by the Feds to distract people away from the ONRRP in which operational limits exploded, and more importantly, were utilized. Clearly, we can observe that the massive increases in operational limits in ONRP markets were unnecessary as utilization never increased.
For the benefit of those that do not understand what role is played by the ONRRP markets, I’ll provide a brief explanation of the differences between the ONRP and ONRRP markets. The overnight repo (ONRP) market allows for different market participants to swap treasuries, or other securities like MBS (mortgage backed securities) issued or fully guaranteed by federal agencies, with the Feds for cash to cover short-term cash needs. In ONRRP markets, as implied by the name, these transactions are reversed. The New York Fed buys securities, normally US Treasuries, from banks in exchange for the receipt of cash reserves held by banks in transactions that drain overnight liquidity from banks.
The Simple Explanation of Why
Thus, a quick and dirty explanation of why the ONRRP market exploded by more than sixty times in less than a year is the following: Due to relentless QE and low interest rates for thirteen years following the 2008 global financial crisis, US commercial banks have excess massive cash reserves and would rather park them overnight with the Feds in the ONRRP market rather than use these excess cash reserves to invest in stocks as they normally do or to buy cryptocurrencies, as erroneously predicted by BTC analysts after BTC ETFs and ETPs were introduced. Simply translated, this means that commercial banks would rather settle for a tiny yield than to invest in assets in which they don’t favor the current risk: reward payout.
I explained here, before the introduction of some new and highly anticipated BTC ETFs, why the introduction of new BTC ETFs would lead to higher price volatility and massive BTC price decreases, in direct contradiction to the consensus narrative provided of much higher BTC prices. The fact that US commercial banks have massive cash reserves but are choosing not to pour them into BTC ETFs also supports my thesis presented about the probable future effects of BTC regulations on BTC prices later this year, presented here in a post titled “Why USDT Regulation Will Cause Another Significant Dip in BTC Prices” (Editor’s Note: Sorry folks, this particular link is the only one in this article not available to everyone, but that is available only to skwealthacademy patrons).
BREAKING: Russian President Vladimir Putin will soon address the nation, according to a Russian media report. Putin had previously stated that he would decide on Monday whether to recognize the two breakaway Ukrainian provinces of Luhansk and Donetsk as independent.
Luhansk and Donetsk are independent. I agree. Why? Ask the People in Luhansk and Donetsk. Civilized Western World would never ask the People. Or would not accept their decision. Losers and Liars.
Consumers are doing better than what most think here. They spend like crazy. They are loaded more than ever before. No need to look at handful of homeless
Which city / country are you in? How is the weekend there? Florida is busy. I say, record number of tourists everywhere from Europe/Asia/Canada. I drive all over Florida and go out almost every night. Talked to my friends in London and Cork Ireland. They are reporting mad house at every club/bar/restaurant. Couple of them run restaurants there. Record revenue. They can not handle the traffic. Pandemic is over and people are like hungry lions running after whatever they can find.
Am still in Germany. My City is a shithole. Restaurants are empty because of corona restrictions. Shops are opened for everyone now again with masks, but they are still suffering. No Shopping boom anywhere, except online. From my point of view let them die. Why? Because they dontt let me in before without vaxxine. I told them No prob, I dont need you, you need me. Its your bancruptcy not mine. They will never see me again.
It is their fault for not resisting. Restaurants and other small businesses should have already had their organizations in place to fight back before all of this tyrannical shit happened.
Sure Govt. told them. But they followed. There are always those who do something and those who let it happen to them. They gave a shit for me, now I give a shit for them. Just fair. Even more so, some had stricter rules than required. Those are in my little black book.
Vladimir Putin is the ONLY world leader with some cojones!
https://news.yahoo.com/european-leaders-condemn-putin-recognition-204123962.html
Biden sanctions two breakaway republics ...not Putin
ha ha ha ha ha
BUY BTC_2
doubled my position
I hope you guys don't lose big money in Crypto. It's dog shit. I read the original white paper on Bitcoin and I knew immediately that it was all dog shit sprinkled with human sh*t and topped with a cherry that all the non-tech people see and start screaming cherry cherry baby ~~~ lol. This whole concept has so many flaws that I don't know where to begin.
Im really no fan of Bitcoin and Cryptos in general. I think it was initiated by Intelligence Agencies. Maybe one day they will go to Zero. But before I'm pretty sure we will see BTC higher, not to say much much higher. I think Biden's regulations will help with that.
Now if Microsoft issues 21 million alt coin representing stocks of Microsoft and govt. law enforces that each coin represents a share and real ownership in Microsoft THEN we talking and I will buy.
Still 1. danger that 256 bit encryption can be broken some day. 2. So much mining power is needed for all these that we need power of all the stars
BTC headed to zero
Today is A GREAT DAY! 😃 YAY! 🥳 🥳 🥳
Good morning all. 🌞 ☀️ ☕️ 🥞 😃
I was completely PRESERVING the integrity of the Human Race. 😃
Where'd your comment go? Hahahahahahahahahahaaa!
Oh, so this is "modifying comments" day eh? Eeeeeeeeeeeeeheheheheheheheheheheheeee! 😈 😹 😂
DAX broke support. Next support 14150
Death cross just confirmed. Get out of of the way until until death becomes bullish cross. May not happen in years
food for thought------In any event, this article is not about the fake science that has dominated IPCC reports, despite the reality of climate change, so let’s return to the topic at hand. The above digression was simply meant to illustrate how easy it is to sell millions on an idea, even if the idea may be completely fabricated, as long as the idea is wrapped in pretty paper and tied with a pretty bow. Whether or not the speculation that BTC was created for the purpose of freeing humanity from the enslavement of fiat currencies doesn’t detract from the fact that this narrative has served this purpose of diverting money away from fiat currencies’ former Public Enemy #1, physical gold, quite well since its creation.
In addition, since reaching a $100B market cap at the end of October 2017, BTC’s market cap has increased over eight times to a market cap of $837B as of February 2022. And though the global market cap of $12.2 trillion of gold at the present day spot gold price of about $1,850 per ounce amounts to a market cap 14.5 times that of BTC, in November of 2021, the total global market cap of cryptocurrencies was nearly $3 trillion, a figure that is a significant percentage of the total gold global market cap. And even though nearly half that market cap had been wiped out as of the end of January 2022, at $1.7 trillion, that still amounts to a significant percentage of the estimated global market cap, even if it is highly likely that this market cap is underreported (per the explanation provided here).
The Setup
Yes, that was a lengthy preface, and you may ask why the long set-up to the question, “What market more than sixty times in just the last ten months?” Number one, I wanted to establish the absurdity of this market growth by pointing out that as much as Bitcoin has been in the media headlines non-stop for the past four years, its market cap has only grown a little more than eight times in more than four years, as compared to this market’s growth of sixty times in just ten months.
Furthermore, I wanted to point out that in topics of finance (and global warming has most definitely been a profit making business for decades), a propaganda narrative is almost always attached from day one, embraced and accepted by the entire world, that contributes to massive growth of such markets. However, the growth of this market reflects just the opposite. The massive growth of this financial market has been met by complete silence and zero coverage by the mass financial media, a fact that indicates that Central Bankers would much rather you not know about the growth of this market, and that widespread knowledge of this explosive market growth does not serve their agenda, whereas incessant media coverage of global warming and cryptocurrencies does.
The Revelation
In the last ten months, from last April to present month, the market cap of cryptocurrencies has grown about ten times. So any way we slice a growth rate of sixty times in ten months, this growth rate is massive and extremely important. What is this market? It is the overnight reverse repurchase (ONRRP) market, and the sixty time growth rate is readily apparent in the below charts. The ONRRP market size hit an astonishing high of nearly $2 trillion on the last day of last year.
Since then, the ONRPP market has settled slightly, but it still remains extremely elevated at a $1.7 trillion daily mark as of February 2022. This figure is a startling sixty times greater than the $30B or so that was traded daily just as of April of last year. And though I realize that when compared to the asset size of some of the largest financial institutions like Goldman Sachs, $1.7 trillion is not a massive figure, it is a massive amount if one realizes that all bankers realize that keeping that much in cash on their books is net negative due to soaring rates of real inflation, and that no banker likes keeping large amounts of cash on their books if at all possible.
Though the mid-2021 figure for total US deposits grew to more than $18.1 trillion by the end of last year, this figure is not representive of the total cash in the US banking system, and in fact, typically less than 1% of MMF deposits were kept in cash reserves (despite many Americans still erroneously believing the RRR is 10% for US banks), especially since on 15 March 2020, the Feds effectively lowered the RRR of US banks to 0%, as stated in this press release, that they had “reduced reserve requirement ratios to zero percent effective on March 26, the beginning of the next reserve maintenance period.”
The Facts
I have spoken, quite frequently on my news site, of the importance of the repurchase markets in providing liquidity to the US banking sector in past years. In fact in October of 2020, I wrote in this article the following observation:
“In the first two months of 2020, US Central Bankers reduced the aggregate operation limit of each operation to $30 billion to $120 billion, leading the mass financial media to falsely report that the US banking system had shored up its problems. However, by early March of this year, US Central bankers ramped up the aggregate operation limit of each operation back up to $500 billion, where it has since remained as of October 2020.”
However, as you can see in the below chart, the massive increase in the operational limit per institution in the overnight repurchase (ONRP) markets was merely a diversionary tactic used by the Feds to distract people away from the ONRRP in which operational limits exploded, and more importantly, were utilized. Clearly, we can observe that the massive increases in operational limits in ONRP markets were unnecessary as utilization never increased.
For the benefit of those that do not understand what role is played by the ONRRP markets, I’ll provide a brief explanation of the differences between the ONRP and ONRRP markets. The overnight repo (ONRP) market allows for different market participants to swap treasuries, or other securities like MBS (mortgage backed securities) issued or fully guaranteed by federal agencies, with the Feds for cash to cover short-term cash needs. In ONRRP markets, as implied by the name, these transactions are reversed. The New York Fed buys securities, normally US Treasuries, from banks in exchange for the receipt of cash reserves held by banks in transactions that drain overnight liquidity from banks.
The Simple Explanation of Why
Thus, a quick and dirty explanation of why the ONRRP market exploded by more than sixty times in less than a year is the following: Due to relentless QE and low interest rates for thirteen years following the 2008 global financial crisis, US commercial banks have excess massive cash reserves and would rather park them overnight with the Feds in the ONRRP market rather than use these excess cash reserves to invest in stocks as they normally do or to buy cryptocurrencies, as erroneously predicted by BTC analysts after BTC ETFs and ETPs were introduced. Simply translated, this means that commercial banks would rather settle for a tiny yield than to invest in assets in which they don’t favor the current risk: reward payout.
I explained here, before the introduction of some new and highly anticipated BTC ETFs, why the introduction of new BTC ETFs would lead to higher price volatility and massive BTC price decreases, in direct contradiction to the consensus narrative provided of much higher BTC prices. The fact that US commercial banks have massive cash reserves but are choosing not to pour them into BTC ETFs also supports my thesis presented about the probable future effects of BTC regulations on BTC prices later this year, presented here in a post titled “Why USDT Regulation Will Cause Another Significant Dip in BTC Prices” (Editor’s Note: Sorry folks, this particular link is the only one in this article not available to everyone, but that is available only to skwealthacademy patrons).
BREAKING: Russian President Vladimir Putin will soon address the nation, according to a Russian media report. Putin had previously stated that he would decide on Monday whether to recognize the two breakaway Ukrainian provinces of Luhansk and Donetsk as independent.
What was his decision?
Luhansk and Donetsk are independent. I agree. Why? Ask the People in Luhansk and Donetsk. Civilized Western World would never ask the People. Or would not accept their decision. Losers and Liars.
https://www.rt.com/on-air/550164-putin-statement-donbass-recognition/
https://www.rt.com/
TRUTH SOCIAL TRUMP available.
^^^ posted to be upvoted
Number ONE App in USA category Social Networking. Congrats.
Damn
Damn
Damn
Thanks Greg.
Now I’m going to Go drink a 6 pack.
One Bourbon, One Scotch, One Beer
https://www.youtube.com/watch?v=zrqnx6tpeQM
https://finance.yahoo.com/news/consumers-retail-tker-165319480.html
Consumers are doing better than what most think here. They spend like crazy. They are loaded more than ever before. No need to look at handful of homeless
Me not buying anything except basics I need every day. Am also doing my personal bankrun and working on a smart solution not to pay taxes anymore.
Which city / country are you in? How is the weekend there? Florida is busy. I say, record number of tourists everywhere from Europe/Asia/Canada. I drive all over Florida and go out almost every night. Talked to my friends in London and Cork Ireland. They are reporting mad house at every club/bar/restaurant. Couple of them run restaurants there. Record revenue. They can not handle the traffic. Pandemic is over and people are like hungry lions running after whatever they can find.
Am still in Germany. My City is a shithole. Restaurants are empty because of corona restrictions. Shops are opened for everyone now again with masks, but they are still suffering. No Shopping boom anywhere, except online. From my point of view let them die. Why? Because they dontt let me in before without vaxxine. I told them No prob, I dont need you, you need me. Its your bancruptcy not mine. They will never see me again.
but it's not there fault. govt. told them to do so imo ? Is it a big city ? What's happening in Munich, Hamburg, Frankfurt , Berlin I wonder.
It is their fault for not resisting. Restaurants and other small businesses should have already had their organizations in place to fight back before all of this tyrannical shit happened.
Easier said than done
Sure Govt. told them. But they followed. There are always those who do something and those who let it happen to them. They gave a shit for me, now I give a shit for them. Just fair. Even more so, some had stricter rules than required. Those are in my little black book.
This was one of my favorite "Markets Look Ahead." Your article was insightful. Don't be detered by the title of this article, posted below, it further supports yours: https://consortiumnews.com/2022/02/15/chris-hedges-democrats-the-more-effective-evil/
Looks like
Sell the Rumors. Buy the News.
RU / UA is going hot and crypto is going DOWWWWWWN.
Watch gold here. Media is red hot with glowing reviews. To da moon. WooDoo chart looks bullish
but the COT says a drop is coming and soon. Will see
DASH is getting skull fu*ked down 8.4%
How are the long term hodlers doing ? zero is on the way anytime even for bitcoin. Sorry folks you have been had.
@Bitcoin $30k I'm loading UP on Shiba Inu! Hahahahahahahahaaa! 😈 😈 😈 🤣 🤣 🤣
Instead of Hodl , Godl is going up
I think Hodl will convert to Godl
PJSC SBERBANK (SBER)
- 20 %
Petropavlovsk / Russian GoldMiner
- 33 %