Everyone. Today our guest is Max kieser Timothy Maxwell Max Keyser is an American broadcaster and filmmaker. He hosted Keyser report a financial program broadcast on RT. That featured heterodox economics theories in this video max Kiser talks about Bitcoin predictions for next year about financial reset Global recession and much more if you enjoy this highlight videos please kindly subscribe and help share this video for us to share more of this valuable content. Thank you, Jake Morgan Chase, president Daniel Pinto commented on the U.S economy and cryptocurrency in an interview with CNBC published Monday Pinto is also the global investment banks, Chief Operating Officer and CEO of its corporate and Investment Bank. Commenting on cryptocurrency the JPMorgan executive claims that there is little progress recently in terms of the institutional adoption of crypto Pinto said. The reality is the current form of crypto has become a small asset class that is kind of Irrelevant in the scheme of things. However, he noted, but the technology, the concepts, something is probably going to happen there, just not in its current form. In contrast to Pintos belief, many big companies and banks are seen increased institutional interest in crypto and are ramping up their crypto Services. Nasdaq established a crypto unit in September, citing increased demand for digital assets among institutional investors. Financial giant State Street recently said that it sees unwaning demand from institutions in May City, Wells, Fargo and bny Mellon invested in crypto, firm, Talos, citing and acceleration in institutional adoption of crypto assets.

Morgan Chase CEO, Jamie dimon also believes that blockchain and decentralized finance are real. However, he said that cryptocurrencies, including Bitcoin, are decentralized Ponzi schemes uh, first of all, thats theres, two parts to that question: Bitcoin is designed to be attacked and Ill get into that in a second. But to answer your question more directly: it clearly challenges the Central Bank establishment and the banking community at large and when Christine Lagarde over at the IMF, says that she doesnt like Bitcoin, because its an escape hatch well thats an interesting question. You know why would you say that and who are people escaping from and the answer is theyre escaping from her from Christine legard and the IMF and the central banks that have as people who would be watching? This are quite familiar with the central banks, have been abusing their mandate for decades and causing a lot of problems in the global economy and were seeing now the blowback from all of this abuse in 2022 in ways that are really quite unsettling and so those that That group of folks is obviously nervous about Bitcoin. They dont like Bitcoin. They they would wish it just would go away. Governments that are authoritarian, like lets, say China, obviously doesnt like Bitcoin, because they cant control it. So they, interestingly, they kicked out the miners that were in China, because the energy is very cheap. Chinese government said: okay, enough is enough. You know this is too much of a challenge of us.

Our Authority so were going to ban mining well, Bitcoin had about a few weeks where it was impacted by this ban, and then it started to recover and then, within a few months it reaching all time highs, and so it proved that China or any government really Cant stop Bitcoin there, it doesnt matter what any government thinks its it. They theres nothing, they can do about it. You can either accept and adapt to bitcoin or you will perish essentially um and, in my view, whats more probable is that governments will be competitively accumulating. Bitcoin competitively to try to hold on to their sovereignty in a world where all Fiat money is coming under attack, so you have competitive. What I call Hash Wars you know Bitcoin is is a is an encrypted. Hashing technology is at the core of the proof of work algorithm that runs the system. So if you can throw energy at this technology and hash or mine, Bitcoin and – and you accumulate that Bitcoin, it would be similar to countries accumulating gold right, so youre accumulating Bitcoin. So that would, I think, and more probably youre, going to see competitive accumulation of Bitcoin instead of countries trying to ban Bitcoin, I think thats, the more probable outcome. You know its designed to be attacked and Ill explain why. This is important because you want um to have as much um energy thrown at Bitcoin in an attempt to override the system with whats called a 51 attack, because invariably that just means that it triggers the all the um participants in this network to to equally fight Back if you will so its a beautifully incentivized throughout the entire system.

So if somebody really wants to throw a lot of energy and trying to attack Bitcoin its just going to stimulate other people to it, to step up there protecting of of the network, which means that the amount of energy protecting the network, the hash rate keeps going Up – and that means the security keeps going up, which makes it even better than Fiat money and better than gold, which means the price goes up, so its its its a the more you attack it actually, the more secure it gets and the more it the value It accrues, and so its a genius uh in many many ways and thats one of the ways that the The Genius of the design works out. So when people say well, you know the the us or the UK is going to ban Bitcoin Im like bring it on because theyre just going to waste a lot of money. The security is going to increase and the prices go higher. So I attack me please uh thats, what its designed for, but the adoption, in my view, has always been driven by fear and when Banks collapse. So when the Cypress Bank collapsed, for example a few years ago, and they did a bail in and peoples, deposits were um Frozen or confiscated, what we see in Lebanon now you see uh Banks, shutting down people going into Banks, armed and shooting, and you know more Countries want bailing laws now they wont be Allen laws exactly and so that when people understand how risky keeping money in the bank is that drives adoption, when Banks fail theres a wave of adoption into Bitcoin when uh whats happening in Europe and in Asia, you know People fleeing countries – you know theyre fleeing countries like theyre, fleeing Russia right now, um they.

How do they take their wealth with them theyre not going to carry silver or gold bars. You know theres very limited, uh Fiat money, nobodys going to take rubles uh anywhere in the world, not in Europe. You cant even book a hotel reservation in Paris if youre Russian right now so with Bitcoin thats, not a problem. You can put all of your wealth into the Bitcoin Network and you can go anywhere in the world and you can keep it. So what what drives adoption is and what Im certain of them is that the Fiat money, world Im certain is in extreme Dire Straits and collapsing and therefore Im not. I have no uh fear that the adoption rate of Bitcoin will continue. Um, the it is a technology and Technology usually goes through a cycle where this is the same in the internet. Back in the 90s, you know in 1995, 96 97, the internet usage was maybe 100 million, tops 150 million. Paul Krugman was riding in the New York Times and it was a fad. It had no bigger impact in the economy than the fax machine people. In Hollywood, where I was at the time, would they wouldnt put an email address? Excuse me on their business card because they thought it looked too geeky. You know were Hollywood, we dont want to look like a geek and then within six months he got a billion two billion people on the internet. The Blair Witch Project hit it Hollywood and was just totally driven by the internet and became a 200 million dollar grocer on his fifty thousand dollar budget.

You know and the whole thing changed uh overnight so with Bitcoin. I think were at that hockey stick moment really where suddenly it goes from, you know. Well: okay, 200 million people are using Bitcoin around the world, its in every country around the world and then six months later, its like actually youve got almost two billion people using it because its uh it fulfills a need, uh the need to have absolutely scarce hard Money thats completely portable, that is better than gold and uh, and certainly better than Fiat money and and its going to take care of itself because it fulfills a need that is becoming ever more pressing and so were seeing, for example, Lugano Switzerland. They have whats called plan b or plan Bitcoin, so the mayor has essentially made Bitcoin legal transactions legal in that Canton. You know. Switzerland is a very special cancer threat or politically organized and um in the um Central African Republic or Carr. They, the leader, is a very smart guy mathematician by trade. I think he has his Doctorate in mathematics. He understands Bitcoin. Imagine by the way Daves is Trump. They have Smart leaders, yeah look at some of the other leaders in the world, theyre lifting smarter people in the Central African Republic yeah. I I hear what youre saying um. Well, you know the thing is when you have a late stage Empire, I think wasnt it in Rome they uh. They had a horse in the Congress at one point Didnt They right, so things get kind of decadent when Empires collapse.

So the U.S is no different. You know its a sad situation that we have the average age of politicians in the United States Congress and in the present 97, or something its extreme, its its very old and its its just not really represents the best interest of everybody, but nevertheless so uh with The Central African Republic um, they made Bitcoin legal tender, but they immediately fell into a trap that so many people do is that they then kind of invited everybody in quote, unquote, crypto to come and thats a mistake. Youre anti crypto, because this just replicates Fiat money. Theres, nothing about ethereum or cardana or xrp, or any of the other 20 000 cryptos out there thats not already in place its called Fiat money. Theyre centralized. They have a single point of failure: theyre um theres, no cap on the the number of units that they could create and theyre easily taken down and theyre its its theres, no difference than a Fiat money. So if youre trying to escape a Fiat money system, you wouldnt do it using a crypto currency theres only one way to do it, and that is with Bitcoin, because its truly decentralized it completely separates money from State its unassailable its its its unconfiscatable. You cant censor it because its Unique in many ways and thats a one time thing its never going to happen again and we thats fine, because it can become the world of currency and, if thats, where its heading to become the world Reserve currency.

As all this Fiat money kind of disintegrates as it always does, you know all Fiat money eventually goes to zero. It always has for 300 years. The only Contender out there that its even worth mentioning at all would be gold, but gold compared to bitcoin also is inferior. We are now finished, as we spoke of earlier with the 40 year experiment, with an all Fiat system world. I mean that really was an experiment when, in 1971 the U.S closed the gold window with Nixon and we went to an all Fiat world, the no Fiat was referenced, anything but other Fiat. So it was, it was just. It became a complete charade. A complete Ponzi scheme essentially and that experiment of an all Fiat world failed and now its ending and now were seeing. For example, the euro is disintegrating before our very eyes. The British pound is also looking horrible, Japanese Yen, which was always the go to currency. For years for funding and the funding currency for the carry trade, where Im gon na go, borrow a billion in Yen and put it into dollars and make three percent and then leverage that by uh 30 times in my hedge fund and wrap it with some Futures Contracts and options and Im making a risk list 40 a year and I dont get the taxed on it, because hedge funds are the 15, carry tax arrangement of which we never have anyway. So – and I got this huge gazillion dollar house in the Hamptons – but Im really adding something productive to the economy – uh right, so that game is over even the yen is collapsing.

Many people have warned about a recession. A recent survey shows that 98 of Chief executives are preparing for a U.S recession, while 99 are preparing for a recession in the EU. Tesla CEO Iman musk said last week that the recession could last until the spring of 2024. Goldman CEO David Solomon sees a good chance of a recession advising investors to be cautious, gmorgan Chase CEO, Jamie Diamond said a recession could hit the U.S economy in six months. If you enjoy this, highlight videos, please kindly subscribe and help share this video for us to share more of this valuable content.

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