This is an urgent update, were going to go about whats happening with cryptocurrency theyre, completely collapsing withdrawals are being cancelled, stocks are falling, bonds are falling, gold and silver is falling, were in a complete liquidity, crisis and people. If you havent been paying attention, it is definitely time to start paying attention right now because, like ive been warning, this recession is going to be one of the most painful we have ever felt and if you dont act now you will be left behind and itll Be far far too late to prepare a month or two months from now, so everyone we got a lot to get into lets, not waste. Any time lets get straight into the news. The facts and the data well well. Well, look at this! Everyone bitcoin and cryptocurrency is completely crashing right now. Bitcoin has fallen to a new low of 23 800, but look at this, the altcoins theyre getting completely destroyed. Ethereum is now down to twelve hundred dollars and were seeing many of the other altcoins fall to new lows. Since their recent all time highs, look at this dogecoin five and a half cents. I really do feel sorry for that. Dogecoin, millionaire uh hes lost pretty much all that 2.5 million dollars of his portfolio by being greedy, hoping hell, go to a dollar, and we can see here the free market. The dow is down around 600 points. The s p is down around two and a half percent and the nasdaqs down around three percent, so its looking like today, the smp will officially enter a bear market of down 20 percent for people if youre thinking this is a buy the dip opportunity.

I do have a warning for you and lets go over what is causing this crash right now. Well. Well, well, everyone! The house of cards is finally starting to collapse and were seeing a lot of these scam cryptocurrencies all these pop all these platforms that have promised the world um or have said you know, were going to change the world with all this new technology, really its all. Just empty promises and were seeing uh these projects finally collapse. Now, look at this big crypto lender celsius, freezes all account withdrawals and, if you think, celsius is going to be the only platform doing this, i think were going to see many many more cryptocurrency platforms go under because you know why weve never had a cryptocurrency bear Market when the economy has also been in a recession and a real recession, not like 2020, when that was an artificial recession, because they just locked down the country and then they printed heaps of money. We had this v shaped recovery, im talking about a real recession and one that doesnt recover quickly, because cryptocurrency hasnt been around that long. It was created in 2009 and didnt really become mainstream or gain much investor interest until 2013 and weve had two bear markets or two four year cycles since then, but weve always had a bear market when the economy has been doing relatively okay and the stock market Has been going up and weve been in a broader economic boom or asset boom, so this is going to be the biggest test for cryptocurrencies to see what exactly does cryptocurrency do when its in a bear market and also if we do enter a deep, deep recession, Because do you think people are gon na huddle, their bitcoin or hold their doggy coin uh? You know when they lose their job or when they cant afford the grocery bill, when they cant afford to put gas in their car people theyre not gon na die in hand, theyre not gon na huddle, even if they want to huddle or want to diamond hand.

Theyre going to be forced to sell and during the last bear market, bitcoin fell around 85 percent and again that was when the economy wasnt in a recession. So, even if we do just have the same correction in bitcoin, as we saw during the last cycle in 2017, where it fell from around 20 000 to around 3 000, while we could still see bitcoin full around between anywhere of 13 to 15 000. So again, even though what is cheap and we dont know exactly what is going to happen because cryptocurrency is so unpredictable because it is a new asset class, we still could have much much further to fall, because people weve just got some new critical data. That shows us, we are already in a recession, and this is the worst ever data weve ever seen. This is not me, exaggerating. Lets have a look at this. Listen to this people, us consumer sentiment, slumps to a record low on rampant inflation and people. These records go back to 1980., so this u.s consumer sentiment was meant to come in at 58.. Guess what it had. A massive mammoth miss it came in at 50.. This is the lowest consumer sentiment weve ever seen since records began. This is worse than 2008. Worse than the 2000.com bubble, worse than the 90s recession – and you know whats really baffling me – the central bankers and the bankers – and you know the governments, the politicians theyre all saying the consumer is strong, the consumer has never been stronger.

The economy is strong, its never been stronger best economy ever i dont know what theyre smoking people they are completely delusional or maybe theyre just hanging around their million dollar friends and theyve seen their asset prices boom over the past year, which now theyre going to crash And you know theyre making millions of dollars and theyre getting big pay rises, so maybe for them things have never been better and maybe for them their balance sheets have never been better, but for the middle class there is no middle class anymore. They are being completely wiped out by high groceries, higher fuel higher rent and with this new cpi that is the highest since the 1980s guess what what did they have to do in the 80s to get inflation down that to lift interest rates up to 18 percent? So if weve got the highest inflation since the 80s, what do you think the central bankers are going to have to do to get under control news? Flash everyone theyre lying theres, no way theyre gon na stop at three percent theyre going to have to go to at least eight percent to match inflation and really what they should be doing is going above that uh to beat inflation because also again, they change the Way they record inflation in the 80s and whats really hiding inflation right now is in the cpi. 32 percent of it is made up by rent, and you know how they calculate rent.

They just go up to random homeowners. That know nothing about the housing market and ask: what do you think you could rent this house for? Do you think people are going to know what fair value is or what market value is and also a lot of these people that are renting homes right now? Well, their rent hasnt gone up, but if all of a sudden someone new wants to move in rents are going up 15 20 30 percent year over year and the cpi is saying shelter. Costs are only up five at six percent. So this is why inflation is being severely under reported and its really more, like 15 to 20 percent. Listen to this university of michigan june sentiment index tumbles to 50.2 short and long term, consumer inflation expectations also climb because again people, if you ask the average person on the street theyll say it already – does feel like a recession. So whats this going to lead to hello everyone, its looking like the federal reserve, is going to have to get much more aggressive and traders have now locked in to say that it is guaranteed that the federal reserve is going to have to do a 75 basis. Point high and people they are far far behind the curve, really what they should be doing is one percent interest rate hikes and not just one multiple, because its still only got the federal funds rate at 0.75 to 1.

When inflation is at 9 – or should i say, cp lie and real inflation is 15. This is doing nothing, and this is only making the problem worse, and this is why saying six months a year ago, that the federal reserve needs to start lifting interest rates now or back then, before inflation gets out of control. Otherwise, theyre going to have to be much much more aggressive and its looking like they are going to have to get much much more aggressive, because theyre continually falling behind the curve. But what has been the most reliable indicator of a recession? Well, everyone. What that is, is the yield curve, that is when interest rates for the two year, us treasury or short term interest rates, go above longer term interest rates the 10 year u.s treasury yield. Now, the 2 and 10 year, u.s treasury yield inverted in april, and people saying look thats just a fluke. It doesnt mean theres going to be a recession. Well guess what it just inverted again! Listen to this two year, treasury yields briefly top 10 year rate. Its first inversion since early april – and we can see here – interest rates – are rising. This is going to be very, very bad for mortgages. Mortgage rates are going to be going up and again people just give it a few months were going to start to see. House prices fall significantly. The 10 year is now 3.233 percent, and if we go to ftx here, where im watching it live, we can see here.

Uh bitcoin did hit a low of 23 700 dollars and people. I thought just add in a bit of comedy here too: listen to what ben bernanke you know the famous central banker of 2008, the federal reserve chair that was uh in 2008. Listen to what hes saying now, listen to this people, bernanke says: fed, can sidestep a big recession in inflation, fight, feds, soft dish, landing. Remember people has gone from inflations transitory to its no longer transitory to inflations getting out of control to. We will start lifting interest rates, but dont worry there wont, be you know. Any consequences to there will just probably be a soft landing and now theyre saying no its going to be a soft ish landing. I just love the words that they come up with or the excuses they try to come up with to try to not scare people, or they always try to keep the public in the dark to whats really going to be happening when they say stop fish landing. What theyre saying is theres going to be a recession and he says that economists are bad at predicting recessions, which i do agree with again people the reason why they say this is because they have to say it. The essential bankers have to say the economy is strong, governments have to say, the economy is strong, because if they admit that a recession is coming, it will become a self fulfilling prophecy and a recession will come because the masses or the middle class listen to the Government theyll, listen to the central bank and then theyll stop spending and it will actually create a recession by them saying or trying to warn people.

The one is coming so theyll keep saying right up to the day before the recession is announced, but dont worry people. Nothing to fear keep spending t keeping keep taking on debt theres nothing to worry about, as well as all these talking heads on cnbc. All these stock gurus, these stock pickers theyre gon na, tell you to keep on buying because they make money from you buying on their platforms. So what youre, probably wanting to know is okay, what does all this mean for you in simple terms? Well, what this means? Everyone, the crash that ive been trying to warn about it, is happening now and even though what looks like great buying opportunities now, i think we do still have a significant way to go. I think the markets having priced in a deep, deep recession, theyre trying to price in higher interest rates, maybe theyre trying to price in a small recession. But i think, like i said in my last video, this is going to be a great recession or it could be the greatest depression of our lifetime. If the federal reserve does lift interest rates up to eight or nine percent, if inflation doesnt go down and also we do have more shortages, also with more geopolitical issues, with issues with uh, the us, china, taiwan, russia, ukraine, etc other countries becoming more authoritarian and more Aggressive to the west, and once we see consumers start to default on all these debts when they cant keep up with the cost of living, so everyone what im doing im just hoarding cash right now, im preparing buying extra things, the essentials that you need.

Look around your house to see what the essentials you need, because its going to be more shortages, prices are going to keep getting higher, so if you can buy it now get extra stores now, because a lot of all these preppers were called crazy. A couple years ago, well theyre looking like geniuses right now, and the good news is for those who have been preparing and that are preparing right now. There is going to be absolutely amazing, buying opportunities for houses for stocks, and if bitcoin falls, you know to 13 10 000 and hey, it could fall even lower therell, be more great, buying opportunities across all asset classes coming soon so everyone that was a quick update With whats happening in the markets right now, things are definitely getting very very interesting. What do you think? Let me know now for all my lore viewers and subscribers watching. I just want to say thank you so much for your support, my previous video. It really did help me a lot by seeing you all supporting me so much by putting in your positive comments. It really did make me feel much much better. I dont know what i do to deserve such a great audience such great subscribers, such a great community.

https://www.youtube.com/watch?v=iywAvsibdYE