Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
For a couple of weeks now I have been mulling over a recent writing by the prolific Jim Rickards- ‘Rickards: Fed's Cure May Be Worse Than The Disease’ as it was reposted by Zero Hedge (7/24/22). Mr. Rickards explains the situation we are facing with aplomb. His excellent writing gave me impetus to go one step further with my own thought process.
In his opening salvo, Mr. Rickards proclaims:
…’Right now, it’s basically a case of the Fed versus the economy. You might say, “Wait a second. Isn’t the Fed supposed to help the economy?”
Well, not exactly. They may want to help the economy, but helping the economy actually isn’t job one. Job one is helping the banks. The Fed was essentially created to prop up the banking system and prevent bank runs.’…
That statement of …’Job one is helping the banks. The Fed was essentially created to prop up the banking system and prevent bank runs‘…. This is what got to me. If the Fed is there first and foremost for the banks and not necessarily the people, then if the Fed is going to keep raising rates, how will that help the banks?
On its face, it seems counterintuitive. Raising the Fed Funds Rate by definition would increase the interest rate that banks charge other banks when they lend money to each other for the purpose of maintaining the Federal Reserve Bank Reserve Requirement.
During most of recent history, the Reserve Requirement that the Fed imposed on member banks was 10%. In other words, if a depository institution took in $1,000 in deposits, it had to hold onto $100 and could lend out the remaining $900. The Reserve Requirement is meant to be a buffer for the bank against negative unforeseen business and market events.
On March 15, 2020, the Fed proclaimed that the Reserve Requirements would be set to zero (0%). This means that the depository institutions no longer had to maintain the previous 10% buffer. The banks now had more money available for operations.
So if the marble buildings with the safe in the basement don’t have to worry about maintaining a ‘reserve’ (because the requirement is now zero), why is the Fed bothering with the increase in the Federal Funds rate? What influence is there on the borrowing cost of the institution when the Fed says you don’t have to maintain a reserve balance?
I believe that it is something known as excess reserves.
Excess reserves are defined at Investopedia as such:
…’Excess reserves are capital reserves held by a bank or financial institution in excess of what is required by regulators, creditors, or internal controls. For commercial banks, excess reserves are measured against standard reserve requirement amounts set by central banking authorities. These required reserve ratios set the minimum liquid deposits (such as cash) that must be in reserve at a bank; more is considered excess.’…
Prior to 2008, banks were not paid any interest on their excess reserves. The Great Recession changed all of that. From that point on, the banks were paid interest on their excess reserves. So at this point in 2008, the banks still had to maintain a 10% Reserve Requirement and if they were prudent enough to have ‘excess reserves’ they were now getting paid by the Fed to hold them.
Fast forward to the ‘pandemic’ crisis of 2020. According to Investopedia:
…’Proceeds from quantitative easing were paid out to banks by the Federal Reserve in the form of reserves, not cash. However, the interest paid on these reserves is paid out in cash and recorded as interest income for the receiving bank. The interest paid out to banks from the Federal Reserve is cash that would otherwise be going to the U.S. Treasury.’…
Did you get that? During the crisis the Fed paid the banks in the form of reserves and then paid them interest in the form of cash on those reserves. So the Fed capitalized the banks and then put the cherry on top and paid them interest on the amount capitalized.
The same article shows that excess reserves went from $1.3-1.6 trillion in 2019 to $3.2 trillion on May 20, 2020. -That- is quite an injection of capital. It also states that:
…’Historically, the fed funds rate is the rate at which banks lend money to one another and is often used as a benchmark for variable rate loans. Both the IOR and the IOER (interest rate on excess reserves) are determined by the Federal Reserve, specifically the Federal Open Market Committee (FOMC). As a result, banks had an incentive to hold excess reserves, especially when market rates were below the fed funds rate. In this way, the interest rate on excess reserves served as a proxy for the fed funds rate.’…
In 2021 the Fed stopped using the term ‘excess reserves’ and just started reporting the interest rate on all reserves as the ‘Interest Rate On Reserve Balances (IORB).
Currently, the ‘Interest Rate On Reserve Balances’ (IORB) is 2.40%. The current for the Fed Funds Rate is 2.25-2.50% with the top 75% of banks at a rate of 2.33%. So this info does show that the Fed Funds rate is a proxy for what the Fed pays the banks for their excess reserves.
Bloomberg has posted a recent headline: ‘Traders Brace for 4% Fed Terminal Rate as Yields Keep Soaring‘. If the Fed Funds rate goes to 4%, where is the the Interest Rate On Reserve Balances going to? If no one (the depository institutions) pay the Fed Funds rate in practice because the Reserve Requirement is 0%, then why is there so much press time and ink dedicated to the Fed Funds Rate?
At this point, when the Fed raises the Fed Funds Rate it is a smoke screen and a ruse done in order to tell a story to the public that it is fighting inflation when in fact, the Fed is pumping more and more money into the banks via the interest paid on excess reserves every time it raises the Fed Funds Rate.
One can now clearly see that the Federal Reserve has pumped inordinate amounts of money into the banks of our country, especially since the pandemic of 2020. As Jim Rickards says,
…’The Fed was essentially created to prop up the banking system and prevent bank runs’…
The lowering of the Reserve Requirement, the infusion of Reserves into the depository institutions and the interest payment on Reserves has certainly been done to ‘prop up the banks’. Maybe all that is left is the next massive infusion to actually fend off runs on the banks that this country has not seen since the 1930s.
In my humble opinion, the banks have been in trouble and are in trouble now. If we see higher Fed Funds rates, which is widely expected, it is just the public face which masks the payments of more money (interest on reserves) to the banks to prop them up.
This is not financial advice. If it were me (and it’s not me), I would consider getting money that I did not need for month to month operation of my life and get what I could into physical precious metals. Gold and silver is no one else’s liability (famous saying by Bill Holter). Steve Quayle is fond of saying, ‘If you can’t touch it-you don’t own it’. If you are not familiar with dealings in precious metals, please get a professional (like those mentioned above) to help you. Get to know a local coin dealer or two as at some point, everything will be local. And most importantly, ask God almighty and His son, Jesus Christ for wisdom during this ‘age of deception’. The deception of this time is so great that we will not be able to discern the truth without the understanding that comes from the author of all that is true and good.
———-
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Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
My story, in a sense, will soon be the story of everyone. Soon every family will have to make a decision what they choose to do to fight the enemy that has invaded their lives. Today is the 14th anniversary of the death of my daughter. Hannah Rose Szymanski was victorious in life and in her death. Her passing is a triumph in the lives of the caregivers, her parents, over death, disease and the Devil through the blood of Jesus and the Word of this testimony. This testimony is available to all.
At age 2, my daughter Hannah Rose Szymanski, stopped talking. At 2 1/2 she started falling, not even sticking her arms out to break her toppling. She was diagnosed with ‘Williams Syndrome’. ‘Williams’ kids might not grow up to be a doctor or lawyer; they would most likely do work as something like a bagger at the grocery store and live in assisted living. With Hannah however, the myoclonic seizures started and her hands and feet started turning shades of blue and purple.
When she was 4 1/4 years of age Hannah was diagnosed with ‘Late Infantile Neuronal Ceroid Lipofuscinosis’(LINCL)-the ‘Late Infantile’ form of Batten Disease. In this disease the children are resigned to being blind, bedridden, demented and are resigned die in the throes of seizures that no one or no amount of seizures medication can stop.
When Hannah started to manifest with symptoms I was working as a Board Certified Financial Planner for one of the biggest Wire Houses in the world. I went from working 6 days a week to 5, then 4, then 3, then 2 and then I had a ‘mutually agreed upon termination’. I had to make up my mind if I was going to have a career or take care of my daughter. I and my wife chose to take care of Hannah. Ourselves. At home.
This led to a complete and immediate loss of all of my income. Oh, the firm gave me a parting gift; about 1/20th of what my book was worth. My wife worked part time and we lived off of savings for as long as it lasted. When the money ran out we started Encouraging Angels. The CEO of a local institution saw a story in the local paper about us, invited us to her office and gave me the opportunity to deliver music services to their organizations’ in house population and provide us with severely needed income.
Hannah’s condition was, up until this point, thought to be irreversible; a ‘fait accompli’. We were bound and determined to help her and not hurt her. When it comes to fatal brain disease there is very little that allopathic medicine does that is anything short of ‘Frankensteinian’. It usually involves some sort of drilling into the brain and dripping something in to see what happens.
I theorized the use of a metabolite that is natural to the human body that had never been used in this manner. I found a Chemist in Boston, Dr. Suresh Srivastava who was capable of making this idea come to life. In nine months we went from idea to practical application. After we gave Hannah the metabolite: her blood normalized, her seizures were reduced remarkably, she began sleeping through the night and here hands and feet stopped turning shades of blue and purple (amelioration of ammonia problem).
Even with much ‘neurological water’ under the bridge (lots of dark area between the skull and brain on pics of the brain), we gave Hannah almost 5 more -good- years of life before The Lord took her home 14 years ago today at age 10 1/2. Dr. Srivastava and I share 4 granted United States Patents (7932287, 8389577, 8518992 and 8778996).
I have gone to some length to share with you the unique and catastrophic story a large episode in the life of my family. I am not doing this for sensation. I am going through this epic to share a real life story on how to carry on and come through the tribulation we find ourselves in.
This very moment, the very ground is shifting beneath our feet. At a minimum, the financial system of the world is being changed as it shifts from a purely fiat (backed only by a printing press at the will of a central authority) to one linked or backed by precious metals and physical commodities. I lost/used everything I had saved to save the life of my daughter. Right now, the consideration of even a small portion of your investable assets in precious metals may save you from a lifetime of regret when the banks declare a ‘holiday’ (bank run) and you have no access to your money like what happened in Cypress in 2013. Everyone in the West may lose large portions of their life savings if they don’t consider what has been money for 5,000 years-the precious metals. It is easier to fight if you have resources. In my situation, I ran out of money and someone saw my plight with my daughter and gave me employ; who will do that for you when there is no economy and no jobs? Even more important than the metals, you had better establish a relationship with Jesus so that you learn to completely lean on him -now- and not when the soup lines start in earnest. Enter into a true relationship (with repentance and desire to have Him as your Lord and Savior) with Him now so that later He doesn’t say…’Depart From Me’…because He doesn’t know you. My wife and I were strong believers by the time Hannah exhibited symptoms. Even after I was working again, there were times when we were three months behind on our mortgage. Only by the grace of God did we make it through those times. If you trust Him, God will never leave you and never forsake you. Please use this writing to consider for yourself and your situation how to provide for yourself during the upcoming collapse.
Because of the adoption of the ‘jab’ by 2/3 of the worlds’ population, large swaths of society are experiencing permanent disabilty, life threatening events, hospitalization and death. It is mind boggling to think of the newly minted -millions- of disabled due to Pfizers’ pugilistic puncture of the populace. Many families will now be consumed with the care of a previously well family member just because of the vax or booster, let alone what else may be coming down the pike. How are you prepared to care for the those who will need your help? Do you at least have food for them-enough for an extended period of convalescence? How about investigating what other therapeutic intervention might be available to ameliorate at least some of the suffering (this is not medical advice-please consult a medical doctor)? Regarding my daughter, the doctors had very little in the way of help for us and certainly nothing in the way of therapeutics. Click the link above and consider if you have options that your ‘doctor’ hasn’t shared with you. When the time comes, it may be only you that someone has as a first responder. In 98% of the ‘events’ with Hannah, we were the first responder for her.
I want to tell you that, in a crisis situation, having the ability to help and not hurt a damaged person is critical. What if there is another lockdown? What if there is war? Do you have some modicum of caretaking skills to be able to help the injured? Can you do CPR? Can you correctly put on a tourniquet? Can you competently stop bleeding of a wound? If not, is there a nurse or doctor nearby? Do you have at least some of the supplies one would need to do so (bandages/splints , tourniquet, OTC medicine etc.) and know how to administer these if no one else is around? Do you have the desire and gumption ahead of time to commit to doing this for you and yours? My wife and I took care of Hannah at an ICU level of care in our own home with no nurse to help us which included (but was not limited to): administration of meds, physical positioning of a non mobile person, tube feeding and prep of food, sleeping with a baby monitor for 10 years because a non mobile person with neurological impairment can choke on their own saliva if not kept in appropriate position (awake or asleep) and when they do gag you can hear it on the monitor, innovative thinking to make the life of the affected better (for us it was our patented metabolic work and the use of shelf liner under her to keep her from slipping down in a seat, a wheelchair or while sleeping). I almost forgot-episodic oxygen application, daily physical therapy and an occasional trip to the museum.
When your world crashes down in a heap you need to be purposefully committed to each other in your family/group. After all we have been through, my wife and I will celebrate our 31st year of marriage in a few months. There are many times that all we had was each other. When things are bad, even the ‘Christians’ around you will tell you to pack it in. We had one ‘friend’ who was the wife of a doctor who told us that when she saw us with our daughter Hannah, the witch said that she (my daughter) would be better off dead. Needless to say that was the last time we allowed her to be in the presence of my daughter. In the new upcoming reality, that may mean your friends (or pastor) will tell you when there is no food or electricity, to go to the FEMA camp where the food and hot water supposedly is. What they didn’t tell you is that in actuality it is a ‘work’ camp where you will ‘work’ yourself to death if they don’t just lop off everything above your neck first because in doing so they think that they are doing God a favor. Talk about fair-weather friend/bad weather backstabber.
Who do you know that if you had to go through a cataclysm with that they wouldn’t turn on you? If you have already been through something of gravity and there were those who stuck by you-those are most likely to be faithful in the upcoming world upheaval that will test all of us. If it were me, I would stick with them. There may be richer friends. There may be more popular acquaintances. But the allies that had your back when you had cancer, when your spouse left you or when you did something really stupid, those are the ones to share the same ground with when the going gets rough. The person who turned their back on you or showed that they were a rat when times were relatively good-not so much.
In the coming world festivities hosted by the global ringmasters, there unfortunately is going to be death. It could be death from the jab. It could be death from a new plague. It could be a nuclear event-did you know that PSA’s are playing in New York City right now that are warning people to be ready for such a thing?
When death occurs, it takes time to get over the death of a loved one. In our case, I can tell you that the year after Hannah’s death was a blur. The other thing about a death is that in the process of grieving, that one goes through all of the life events that will not happen because that person is gone. For instance, you will not have that person at the Thanksgiving table with you next time you dine on turkey. For us, we had to grieve while our daughter was alive regarding many life events we would not get to have with her. She would not go the prom or graduate high school or college. I would not walk her down the aisle. She would not bear us grandchildren. She would not take care of us when we got old. When all of these things hit you at one time, it is a lot to contemplate. I recommend that all who read this and who love Jesus to be thankful for the person you had in your life and the relationship that you had with them. Be thankful for all the experiences that God allowed you to have. You enjoy the good ones and learned from the tough ones.
When Hannah died, we grieved for our loss of her. But in the beginning, when we had a choice to either take care of her or institutionalize her, we chose to take care of her. Because of this, either I was with her and my wife was working or my wife was with her and I was working or, we both were with her. When she died, we had no remorse that we could have spent any more time with her, because we couldn’t have. We played all 60 minutes of the the game. When whatever is coming comes (even if it is Klaus Schwab carrying a Dr. Evil lunchbox with the nuclear football inside) and you have given all to your family/group cause, care and personage, you will have no regrets before man or God in the carrying out of your duties and responsibilities. Choose to care for your people without equivocation. I believe that God will protect and care for when you need it for the scripture says:
Blessed are those who have regard for the weak; the Lord delivers them in times of trouble.
The Lord protects and preserves them—they are counted among the blessed in the land—he does not give them over to the desire of their foes.
The Lord sustains them on their sickbed and restores them from their bed of illness. (Psalm 41:1-3 NIV)
If you care for those who need it God will deliver you in times of trouble, from your foes and restore you when you are sick. That is a God issued warranty for those who care for the weak. I can tell you from experience that God makes good on His promises and means what He says. When the world tells you to jettison your affected family or group member, do not listen to that voice. When the time comes, make the commitment to care for the weaker one and God will not forget you; He will in fact, bless you and sustain you.
Today in remembering my daughter I am calling on all Christians to prepare themselves to carry on and to come through the tribulation that is upon us.
Will you be one of the saved who will sing the song of Moses and the Lamb who were…
…’victorious over the beast and its image and over the number of its name.’…(Rev. 15:2 NIV)
This is just before God pours out the bowls of His wrath on the earth in Revelation 16:1. As believers in Jesus Christ as our Lord, we are not appointed to the wrath of God. The wrath of God is for the unbelievers. Since believers are not appointed to God’s wrath, He will safely take us out of the way before he pours out His wrath. Unfortunately it is the wrath of the Devil that we must go through. God is faithful to His saved.
So prepare now to endure. How will you sing victoriously (Revelation 15) if you don’t have food to eat to sustain you until then? What if someone you care for convalesces now and then is one of those singing after defeating the enemy (that would be awesome)? God is looking for those who are looking to endure until the end. He is not looking for cowards.
I could go on writing about just how much suffering that my daughter endured in this life. In her suffering, God made her Mom and Dad stronger. In the caring for those suffering, God will strengthen and uphold you.
Just before she stopped talking at age 2, I can also see in retrospect that Hannah was starting to lose her vision as kids with LINCL do. She walked up to the old antenna television while Christian cartoons were on in the morning. She pressed her face up to the glass of the TV and uttered the name …‘Jesus’…
Before we each breath our last breath we should be so blessed as to have that name in our lips…
———-
If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://childrenshealthdefense.org/defender/9-year-old-child-died-pfizer-covid-shot-vaers-data/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Just how close are we to the tipping point of a financial system collapse? Exactly how liquid is it? Don’t miss this Greg Hunter report featuring the brilliant Bill Holter.
https://usawatchdog.com/whole-world-is-a-banana-republic-bill-holter/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://blockgeni.com/cred-accuses-its-collapse-on-uphold-exchange/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
Why is Encouraging Angels writing and posting financial news on a regular basis when we run a disability ministry? Simple. In order to take care of disabled folks, you need capital to do so. As well known Pittsburgh Pastor John Guest has said, ‘No money, no ministry’. When it comes to caring for the disabled, whether you are a family or an institution, you need money to do so.
The powers that be have said that ‘’You will own nothing and be happy’. Those same powers that be have most likely never had to wake up four times through the night, then get breakfast for someone that takes 45 minutes to eat followed by the hour it takes just to get that disabled person changed and dressed followed by making sure that you, as the caregiver, have ALL medication, special foods and changes of clothes in hand just to venture out the front door to go to a doctors’ appointment and to be able to handle what this day throws at you (run on sentence written on purpose for effect).
The powers that be have a plan for your financial life and it’s benefits to you will be small. The detriments of the coming system will be great indeed.
If you, as the caregiver or Director of a Special Needs institution, don’t think that the current state of US and global finance will have a profound effect on you and those you care for-you could not be more wrong. High and possibly ‘hyper’ inflation is here where your money is being confiscated though the invisible hand of markedly higher prices. The US Dollar is still the world reserve currency only in the eyes of the myopic Federal Reserve Bank. The real crash of the US Dollar has already started against the first gold-linked currency (the Ruble) and will accelerate as the BRICS nations get their act together (which they have made their business to do so).
The problems in the Cryptocurrency space are multiplying with every passing month. We have reported a lot on this subject in the last week.
Dear reader, if you care for someone who can’t care for themselves you need to consider buying enough food to get you and your cares for one through an extended period of austerity. How long before the grocery stores are no longer replenished with new stock as we have been used to? If diesel prices go up another couple of dollars the semi trucks that deliver food to stores will just stop running because costs to run that business have become just too high.
Please consider (this is not financial advice-consult your advisor) how the acquisition of physical commodities like precious metals might help get you through a time of trouble as the nation eventually transitions into a digital currency. The banks could get into a lot of trouble where they will do a ‘bail in’ (that is commandeering the money of the depositors) to try to remain solvent.
I cannot with perfection tell you the future. But it is easy to see that the financial markets are in a much worse state than they were just a few years ago. Ignorance of this fact will not help you. Please consider now what you can do to help your situation and the situation of those whom you have charge of.
———-
If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.zerohedge.com/crypto/cryptos-slide-after-reports-coinbase-faces-sec-probe
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
More cracks in the crypto universe…
https://www.zerohedge.com/crypto/tales-crypto-trapped-celsius-holders-share-financial-horrors
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
The liquidity problem in cryptocurrency I wrote about in my ‘Pinball’ article a few days ago is expanding…
https://crypto-economy.com/skybridge-capital-halts-withdrawal-as-crypto-stocks-fall/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Kudos to Coingeek on this article I found when searching for something else tonight…something, it seems, is afoot…
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://quoththeraven.substack.com/p/russia-and-china-officially-announce?utm_source=email
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Image credit: http://www.youtube.com/watch?v=rEHylq3okGY
By Stan Szymanski
Late in the day on Tuesday, Seeking Alpha reported ‘Coinbase pauses Bitcoin SV withdrawals’.
Seeking Alpha went on to say:
…’Coinbase Global (NASDAQ:COIN) has paused withdrawals of Bitcoin SV (BSV-USD) Tuesday afternoon as the cryptocurrency exchange investigates "difficulties in transaction processing," it said in a post at 3:40 PM ET.’…
If Coinbase is halting withdrawals of Bitcoin SV for an undetermined period for difficulties of an origin that is clear as mud, what does that mean? A cyber attack? An Electrical outage? Employee day off? Or is it part of a systemic financial problem?
I watched an interview with Bob Moriarty of 321Gold today. One of the shocking revelations that Bob mentioned is that more money has been lost in the Cryptocurrency space than was lost in the entire debacle of the sub-prime crisis of 2008. That is a significant statement.
Just to be clear, Bitcoin SV is #47 on Coinmarketcap, not Bitcoin proper, if you will. The site dcforecasts.com describes Bitcoin SV as such: …’Bitcoin SV (BSV) is a cryptocurrency which was created after another cryptocurrency named Bitcoin Cash (BCH) experienced a hard fork. Even though it was introduced a little bit prior to the fork, the blockchain of Bitcoin Cash has split in two competing coins – Bitcoin ABC (Adjustable Blocksize Cap) and Bitcoin SV (Satoshi Vision).’…
If crypto has lost more capital than was lost in the Great Recession then it certainly stands to reason that we may be on the cusp of a true liquidity crisis. In a true crisis of liquidity in a market, there is -no bid- for the financial instrument in question. In 1987, on the NASDAQ many market makers just walked away from their posts. As Investopedia states:
…’In the wake of the 1987 crash, when some market makers refused to pick up their phone’…
In 2022, what happens when there are no human beings involved; just computers/algorithms that do what they have been programmed to do and behind the curtain there is not enough liquidity to satisfy standing withdrawal requests? It may be that it is the same as in the old days when someone would bump the pinball table with their hip when the game wasn’t going so good for them and the ‘Tilt’ light would illuminate, all other lights would go off, the sound would stop, the flippers became unresponsive and the game would be over.
At this point, if Bitcoin SV went away, in a vacuum it might not matter much. But a lot of people own it because of it being a spin off of Bitcoin Cash. But we know that when one asset fails it can cascade to others. Will crypto exchanges soon stop withdrawals of other crypto assets? With all of the other surrounding weaknesses, is the crypto market reaching that point of insolvency just as the US stock market did in 1987? Back then it took the Federal Reserve greasing the wheels of the markets to make them operational again by flooding the system with money. Who is going to bail out all of the individual exchanges of crypto? Some crypto exchanges are in the US and many are not. Even if the US crypto exchanges are bailed out, what happens to the price of Bitcoin/crypto when the rest of the world is insolvent?
Is it possible that the problem is with the most popular ‘pair partner’ of Bitcoin SV trades/exchanges? That would be Tether. Back in early April I wrote ‘Cryptocurrency Tether Is Not A ‘Stable’ StableCoin And Will Collapse Crypto’. A month after I wrote that piece, Tether ‘broke the buck’ and proved that it was anything but stable.
Perhaps all the bank insolvency in China, along with the lack of liquidity in the Chinese Real Estate market has crushed the value of the theorized Chinese commercial paper in the portfolio of Tether. I say theorized because Tether has never actually disclosed exactly what securities it actually is involved in; it has only disclosed the asset types it owns and percentage.
In a just breaking news story from Bitcoin.com ‘Crypto Exchange Zipmex Halts Withdrawals Citing Market Conditions, Financial Difficulties of Business Partners’ From the article…’On Wednesday, Zipmex announced via Twitter that “due to a combination of circumstances beyond our control including volatile market conditions, and the resulting financial difficulties of our key business partners … we would be pausing withdrawals until further notice.”… Coinbase is not the only exchange with problems.
In my humble opinion, all of this adds up to a pinball game that is in the condition of ‘full tilt’; it’s just that a whole lot of people are not looking up to see that the countenance of the game has become dim and now they have to face that the game looks like it may be over. When markets ultimately and eventually become efficient as they always do, the arbitrageurs of the high flying (lying) days give way to the compliance officers executing forced trades to cover margin calls as the market falls, accelerating downturns.
Bob Moriarty prophetically shared a fact that manifested less than a day after he shared it.
People think that the US dollar is strong because the US dollar index is at a new high. Sorry. Compared to the Gold-linked Russian Ruble (since the imposition of sanctions) the dollar is down over 20% at last look versus Putin’s money. The US dollar is being used less and less around the world and no major country is a net buyer of US treasuries over the last year; most are net sellers.
Bitcoin SV is up as much as 16% in the last 7 days and yesterday Coinbase halted withdrawals . With all that is going on in the financial and the war realm, do you think that the cryptocurrency space is overall exhibiting strong signals or a weak signal?
When I was a kid, if we wanted to play a game, we had to walk 3 miles to a bowling alley that had pinball. I remember how good the older kids were at it. That is the first time I saw someone ‘tilt’ a pinball table on purpose because they were loosing badly. It shocked me that all the lights went off and the sound stopped so suddenly.
There certainly has been a lot of news and hoopla around crypto over the last few years as returns seemingly reached toward the sun. As of the last three months-not so much; the tables seemed to have turned.
When the tables turn-that is when things can change abruptly such as a ‘tilt’ in the markets.
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