Exciting week! I've been sharing a daily summary of what's going on in the world that you need to know about in my Locals Group. Here's today's recap:
(link to read on Locals)
GEOPOLITICS
Liz Truss (UK Prime Minister) is out after only 44 days. No one would quit a job that quickly on their own accord. She was forced to resign.
This is not a win for the free world. The Davos globalists want someone in place who will push their agenda (war, climate change, lots of fiscal spending) and she wasn’t on board. Her flex a few weeks ago to bar King Charles from attending an upcoming leadership event was evidence.
The wealthy Davos crowd has a lot of money, and can manipulate financial markets. The UK bond market was a recent target, and the collapse of bonds meant the pensions are at risk. That is powerful threat, and ultimately forced Truss and her pro-UK, pro-energy independence plans out.
Look for the next leader to be in line with Davos: pro-war, pro-spending, pro-ESG. Rishi Sukak (possible candidate along with Boris Johnson) is a big CBDC supporter so I’d also expect the Digital Pound to be talked about more.
BLOCKCHAIN
New development in the SEC Ripple case. This suit has implications for all of crypto, not just XRP. The classification of which assets are securities and which are currencies is a big deal, and will impact how and where retail investors like us can trade.
Four years ago, a leader at the SEC, Bill Hinman, gave a speech where he classified Bitcoin and Ether as currencies. This led the value of ETH to skyrocket.
Two years later the SEC sued Ripple claiming XRP is a security. The value of XRP tanked.
Big money is at the heart of this issue. The SEC picks winners and losers.
Yesterday, the SEC finally released the email around the development of that speech.
They were ordered by a judge SIX times, and finally conceded.
The emails are not public yet, but the lead attorney for Ripple tweeted that it was worth the wait & effort to get them. This is bullish for Ripple, XRP and crypto.
But it ain’t over until it’s over, so I’m not celebrating until the case is closed and we have a clear outcome.
MONEY
There is a big battle going on between the large banks (including the central banks). The battlefield is the bond market.
Normally bonds are boring and stable. They have not been this year.
The Fed is waging a war against the European banks over control of the dollar.
When you have a lot of money in the US and want to lend it out, there are strict rules the US banks have to follow. The big banks have accounts with the Fed, which means they are managed by the Fed.
Outside the US, banks can do what they want. They can make risky loans. They can use fractional reserve banking to increase the supply of dollars, which is outside of the control of the Fed.
The Fed has one product, the US Dollar, and will use the resources it has to defend the dollar.
The European banks, who are part of the Davos cartel, need the offshore dollar market to fund their return-to-feudalism movement. The Fed isn’t on board, which is why you see Powell and Dimon publicly state they aren’t supporting ESG.
That is the calling card of Davos and a signpost of which members of the cartel are aligned.
This is also why the Fed keeps raising interest rates. It has nothing to do with inflation, it is a tool to bankrupt the offshore dollar market to return control of the global reserve currency to the Fed. Turf war.
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If you would like a daily summary to quickly catch up with what's going on, please hop into my locals group. The daily posts are free, and it saves me from clogging up your inbox if you won't want the updates.
https://twostepsahead.locals.com
Hope to see you over there!