XRP runs MONEYGRAM | CRYPTO is BAD and BANKS PAY BIG FINES |
So much more. And. We. Are, live. So. Here we are once. Again evening. Crypto, with a auto report. Just. Wrapping up watching. Dni. Stream, and the, zoo stream before that so. For, for those of you that are tuning. In now XRP, carolina first in the stream analyzed. Anneliese gorge sorry. Anneliese, how's it going, on. So. For those of you that are tuning in on the, on, the replay i feel like everything's out of whack I think my camera, wasn't positioned, right and I feel like I'm like you. Sure it on the the, camera, it's, looking kind of funny so. Real, good to see everybody. Those, that are coming in on on the replay I mean. Just take a few minutes, wait. For people to pop in introduce. A few as they as, they do bounce in. Definitely. Looking. Forward to tonight's. Stream, if you came out of DNI stream, talking. About some interesting. Interesting. Topic, if you're on the zoo stream they. Had SAS on all the way over from Australia. So. It seems like there's a growing. Australian. Viewer. Base involved, in the community and its really great to see we're. Leveraging, really. All sides. Of the world so so, it's really really. Awesome. So. I. Just. As I was hitting. The stream started I started. And, broadcasting. It all had no audio. So, glass, dreaming. In here give. Everybody a minute to, get. In and then. We're gonna really, start kicking it off here so. Spanish. Fly hey glad you're checking in glad, to see you on. See, here. All right they do they're doing a slow roll. In and. I like XRP growing, to let. Everybody come in little by little. Though. Here we go all right well it's. Uh let's get started about talking about something interesting as, people roll in and then. We're gonna get into the, more. Topical. Points, uh that, I that. I wanted to bring up this, evening so. Yeah anybody who can tweet, it out that'd be awesome go, ahead and tweet it out thumbs, up on the channel if. You haven't subscribed, yet this for anyone who's bouncing in now anybody. Who is, watching. The replay if you're new to the channel go, ahead and hit the subscribe button hit, the bell next just subscribe, if you want to be alerted, once. Once, we go live I don't think the the alerts, work for anybody that's in the XRP community, that's how I've pretty much come, to. That conclusion I don't, really get alerts I get alerts uh very. Temperamental. I think that's YouTube's, way of of, getting, us back for for some reason though, chip. Great, on the business call. So. Glad you're glad, you're logging in. Fantastic. So alright people are starting, to pull in here alik sheet good to see you Richter what's up man good. To see one. And let's.
See Alright we. Got a decent, number here so like. XRP. Does, that say Mikey, Mikey. Or Mickey Mikey. Good evening glad. That you made it on is, awesome, all right so, extra. P angel Connie glad, to see one as well, as. I started. Last time and chip. Really, was. The impetus to doing, this always recognizing. The. First person, that jumps, into the stream so. I want to do up, the ante a little bit and anybody. First, person that makes us in the stream, gets. Free. XRP, complimentary. Of the. XRP tip pot actually, it's coming from me but we're. Using the XRP tip pot to send it your way so tonight. It, looks like it's XRP Carolina and I. Don't see that I have you in my contact list let's. See if I don't have you here um. Have. You just, throw in, your. Twitter. You. Want to DME. I don't see it on. Your. Your. Twitter is if you don't have xrp tip bot then. I don't know if I'll be able to send it to you but. If you want to while, I. Take. That back there. You are right there all right what. Do we have here here we go, 3x, RP coming your way BAM, there we go, x RP Caroline of the big winner of the evening. So, here we go let me scroll back down I was a little bit too, far up uh. XRP. Carolina free I got. It I found it you were in my you're. In my xrp teapot as a. Awesome. Edward, what's up man good to, see one bet, bro, Robert, Clark good to see you logging. In uh, squinting. Think. Of us seen squinting around before, um. Sometimes, I see a lot of new names and then I find out people that I've been going back through some. Previous, videos from. The beginning and I start, seeing you, know common, common. Names that pop up it's really awesome you, know to see you know how long some people have really. Stuck. With my videos you, know through the growth of the channel you, know it's really really cool so. Tonight. As you saw in the thumbnail if you saw the thumbnail, I want. To focus on a couple different things we. Want to you, know emphasize. That. Cryptocurrency, apparently. Is bad for the economy as, as. Noted. By. Central. Bank's to some extent here as we've seen many of the larger banks taking. On the digital asset space obviously. We also know that many in the banking, space. Have been adopting. Into. Blockchain. Or the digital asset space but. What we're going to focus, in on is the, fact that over the past ten years, banks. Have paid, around. And probably more than two, hundred and forty three billion, dollars, in fines in, the last ten years and some, of these banks have paid huge. Huge, fines and it's, not just because they made a mistake it's. Because their mistakes, were. Fraud. And and. And, and. Really uh you. Know bordering, on embezzlement, but we're, gonna we're going to get into that in. A little bit because I think it's really interesting, and.
But Before we kind of drill down or, after, we drill down into the into banks, and why, crypto currencies according to them are then bad for the economy huh. We're going to look at the. Relationship, between money, gram and XRP, we're not going to rehash. The fact that, that. Ripple bought, ten. Percent stake, or ten, percent shares. Of money. Gram nice, investment, there we're, going to drill, down and. The. Fact that this, relationship. Between them obviously has, been ongoing. But. With, this new investment with. Some of the things that have come to light it also looks, like MoneyGram, has already put in place, some. Of these rails. Of X rapid, you know or X rapid on some of their their, rails and so this, is going to be interesting. To look at interesting, to identify, and when, we focus in on utility. And utility. Is the phase that we're in right now because we've already gone into, the identification, phase. Of digital asset of blockchain, technology, we've, gone into, the. Beginnings, of adoption, of, blockchain. And the growth of the blockchain space, now. We're getting into further, adoption. But also further adoption, through direct. Utility, direct, utility, also then, the, outreach, or or the, movement, into into, mainstream, so, yeah I think that that's really really important, so. Alright, so let's look let's let's. Let's, kind of take it back a step and, what I want to do is go. Back to, what. We were talking about on Saturday, I kind, of wrapped it up focused. In on Zimbabwe. And. So I wanted, to focus in on this again not rehash. What we talked about but. One of the things that was brought up is that. Zimbabwe. Wanted, to. Have. Two steps for it I like the two steps forward - we're, gonna take we're. Gonna start with one step back and then get, ready because we're definitely going to take two steps forward, so. We had talked about the fact that Zimbabwe. Wanted to kind. Of reinvent, themselves reinvent. Their currency, and they, enrolling, out their new currency, rolling, out their currency, that, their new currency, really, a way to protect, their. Own economic, independence. A. Really. Establishing, a strategic. Path to. A successful. Economy and that's what it's really all about they, want their independence they, want to pull away from allowing. People. To trade, in or utilize, multiple. Currencies, which, is really been the case now, for many years in. Zimbabwe, now if you look back maybe about, a decade. Zimbabwe. Faced about, 500. Billion, percent. Inflation so. We, look at what happened in Venezuela Venezuela. I want to say had, about 10 million percent, inflation that. Means the value of their currency you, know isn't isn't, even worth the, paper the, scrap paper that you write on Zimbabwe.
Was, Even worse you, know it was, too costly probably. To use the butane. In it, in a lighter to. Light the money on fire in order, to use it as tinder as a firestarter you, know it. Just it was just valueless. You, know so but. But now as, you, see this movement, in, Zimbabwe, as we see in many of the other countries, trying to recapture, and, establishing. Their independence. You know so in this scenario one. Of the things that I really wanted to look at and I said you know what Zimbabwe. Would be the, perfect, case for. Adopting. Blockchain, for adopting, cryptocurrency, as a mechanism. To actually, rebuild. Their. Economy, and so. You, know we didn't really see that happening but. It really made me think about a few things, and one, of those is that, when we start working, with a third. World country a, developing. Country whatever. It might be any country. That is that, it is really, an outreach, for international. Aid program, whether. It's through the IMF, whether. It's through the United Nations whether. It's through foreign. Aid from the United States at. This point when, since we have the technology. That's actually available we. Can actually put, in place I'm, not saying you know it's. There's, really not a mechanism, to make this happen yet, but, it. Could be there the technology, exists, to where we could look at these countries, and say look if you want the millions and millions of dollars the billions of dollars that we're going to transfer, over to you then, what we really, need to do is put. This transfer, of currency, on the, blockchain into. A digital asset. And that's, how you're going to get your that's how you're going to get your support, is how you're going to get your financial, aid now. With that we're, also going to have a requirement, on the books that every, single, digital, asset that you spend. So every, xrp that you spend let's say moving forward, we. Also want to have a direct. Tracking. Of which, address, you're actually sending this currency, to. And the thing is is that we, are then also going to come back and audit. The, movement, of this currency being, that everything. Is then traceable, on the blockchain u.s., you sent us a report of where you, say you spent the funding, we're, going to then compare it to what's on the blockchain we're. Gonna do an audit if we see an address that doesn't, exist you're going to tell us what this address, is now the reason why I bring this up is because in many instances. When, we have transfer. Of payment, to many of these countries that are in a dire scenario. And they're reaching out many, times it's because of a. Corrupted, political environment. Similar, to what was happening in Zimbabwe, similar, to what happens in many other countries where, the money given is then, distributed. Amongst. The, cronyism, that, goes on and very, little bit actually, reaches the people now, I want, to bring that point up because it kind of relates. Into, you, know some of the things that I wanted to talk about which. Then has to do with the. AML. Requirements. On banks. And now on digital, asset exchanges, AML, being anti money laundering. Support. Of terrorism. Etc. So this, is a requirement. That banks, must adhere to this, is a requirement, that, digital. Asset exchanges, much it must adhere to, however. You, know is this something that, that. Governments. That have received money from central, banks do, they met then need to adhere to the same principle. That we're telling banks, and digital, asset exchanges, that they need to adhere to so, if the government can now take, that money that, we've been given, them and they can do whatever they want with it without proving.
The Money we provided, to them isn't, then moving into the hands of corruption. Or money, laundering through to. Terrorism, or whatever. It might be so. I think that that is really a critical, element now. In the past years. This is just focus, on what happened in Zimbabwe and some of my thought process, kind, of expand out from there then, we start digging in and we say okay now let's look at the individual, banks, so the banks are now bad-mouthing, the. Digital assets, and the digital asset exchanges. However. What. About the banks how many banks have actually, been caught in, corruption, and, money, laundering schemes. And. That's the direction that we're going to talk about here in a minute so let me go over to our. To. Our chat here and see what we have going on on I. Dom. Jambi, um there. Is some promotion. A petition, that's going on to the token taxonomy. Act to Congress um I. Would. Have to look at that I want. To take a look at it as well and see who's. Promoting it and exactly. The. Full language and intent of this. Petition, but. It is important, the people you'll. Have to be heard now the thing is when we just a side note here, before we get it back into topic there's. Some things at hand right now one of those things at hand happens, to be the fact that the. Facebook, Libre. Announcement. Sidelined. The. Passing, of the token taxonomy Act, daaamn so just, an update on that space. Of I'm, sure all of you guys have tuned in and. You've heard what I've said, up to this point but. What. What's happened, due to the fact that that. Libre is there maxine. Waters has, specifically, requested a, hearing within. The, financial services committee that, that, Mark Zuckerberg and Facebook, representatives. Are then pulled in front of are. Actually, pulled in front of committee. They, want to have a full hearing we. Also know that the Senate is bringing, but wants, to bring them in for a hearing starting. July 16th. On so, all of this is definitely, involved. All of this is factored, now the thing is is that you. Know we we do know that I. Think. My wife I just uh fluctuated. Here hang on nope all right so you know we do know that you. Know the, fact that prior to this, Maxine. Waters was actually, in favor of allowing. The. Token taxonomy, act through, the financial services committee however. At this point there, were a number of delays that were already there one of them. Dumb. You know if you're not aware one. Of one of the delays had to do with the fact that that. Maxine, Waters wanted. Them to remove any, mention. Of impact. To taxes. To tax implication. They. Had to remove that component at, the same time, Maxine. Waters had requested, that they add an additional. High level Democrat, from, the Financial, Services Committee, which. They did do so, you, know those are some of the the, important, criteria that. Was set aside by Maxine. Waters to, actually happen and. So then, obviously we had this whole Libre mess and now, with the Libre mez token. Taxonomy Act being, brought to the floor in, front of committee has been sidelined now, during this period of time obviously. There's, things that we can do one. Of those things that are are. In, serious, discussion, right now, serious. Planning right now, and. That has to do with. Getting. A video series out in, front, of Congress. I've. Already spoken with Warren. Davidson's, office they're. Open, for. Sure to receiving that they've actually asked, for some, specific. Pointers.
I'm, So about providing, this video series to them we already provided, one video to them which. Was definitely impactful, to. Much of their outreach the, messaging, that we were able to provide was, then relayed, to, other, staff. Members, within other congressional offices, as well as to. Congress, represented. Congressional, representatives, this new video series will. Be shorter, very, much, more specific. To, the point there's, still a lot of misinformation that's, being spread and. Being held within the financial services committee and by many of the other congressmen, that are just simply not informed. As to the, reality of the information, that is easily, accessible but. Misinformed. About the reality, of what's, actually happening. Within. Digital assets, and blockchain. Technology. Then we have the shermanator, Brad Sherman who was attempting, to put together a, committee, in opposition. He hasn't proposed the bill yet but, he's attempting, to, get backers. To propose a bill that's, in direct opposition to. What's. Happening, with token, taxonomy. Act so that's, exactly what's happening, and. We, need definitely, a lot more so I agreed, on you, know if we get you. Know a strong. Petition, if we get people. On the ground the. Petition, is one thing but, you have to get to your individual, representatives, the petition, isn't going to convince the, representatives. That they, need to vote a certain way outreach. Directly, to their offices, outreach. To specific, individuals, picking, up the phone and calling, them and trying, to identify where. They stand on the, token taxonomy, act is going, to get you much further than, having. 10,000. People sign, a petition. They're gonna see the petition it's not going to help get, it through the, financial, services committee because, at the end of the day at the financial, services committee level each, individual. Representative. Is going to have to vote on passing, it through committing, to put it on the House floor once. It gets to the House floor individual. Congressional, representatives, are then going to have to vote on it and in order to vote on it we have to make sure that they're educated, and informed on, what, they're voting for so, just, just a thought I'm not negating. The this petition, at all by, all means I think it's important, that it's, another it's another means, so any avenue, that you can have to, get the message out that people are in favor of the token taxonomy, Act and put, it in front is going to be important, but you need it coming, from every single. Direction, we already know it's coming from the top-down meaning, from the CEOs. And large. Investors. Of the corporations, so they're coming in and lobbying, on the top and then, you throw in the petition, you throw in the phone calls you throw in the tweets, you, throw in the emails and now you have a full campaign, it's, actually, impactful. And and, so you know I really commend you Dom for getting that out keep pushing the message, keep trying people to get to to, sign the petition I, think. It's definitely important, though. All right let's see where was I all right um Dom. Okay there your first video was great the definite push in the right direction more, videos such as these well be Ober positive, or the whole digital asset space I that's, great Tommy I really appreciate, that I think so too. So. Let's. See here oh there it is this, uh his. Tweet here is that the letter that's a link to the petition all, right cool, all. Right um. Let's. See here anything. Else all right let's uh let's. Go back so. Let's. See yeah. Great. Um all, right so, so. Oh you said more, informational, videos and talks with representatives and, general knowledge against, flood only, be exactly, only be beneficial the, other point that and, then we'll, get back into topic. But. The other point is really, to focus in on what, happens at the state level, so if you can get in front of your state representatives, I mean it it, might be a little bit you know monumental, as, far as a project, we. Got to go back Marty, uh but. You know we've we've got you. Know you, know we've got states that are becoming, more and more digital. Asset or crypto friendly, you, know if you look like Wyoming. You know they've definitely moved in the right direction and so, if we look at what Wyoming, is done can, that be done in other states and, if. You get a state. Representative that's, friendly to that you, start a little fervor, you know the process, may be a little bit quicker than, if it's going through Congress. And at least you get some normalcy and some regulatory clarity at the, state level that can be definitely.
Impactful. So. Now. Let's go back to. The topic at hand so so. We kind of left off. We. Want to focus in on you know banks that, have been caught in corruption and money, laundering schemes. Now we think, okay maybe these are maybe. There's our small banks, uh yeah dan dan exactly, Ohio is definitely, going, all-in plus, Warren. Davidson, is from Ohio so. Though. You're here's a couple banks that you guys may, or may not have heard of they're relatively small banks, that, have been caught up in money, laundering and corruption schemes. Number. One, Wells Fargo, you guys probably never heard of of, Wells Fargo uh. Deutsche Bank you, probably never heard of Doge a bank US, bank you probably never heard of them there's a longer list wait till we get to that list huh, but you know so yeah where do where do we begin now these banks have been bad-mouthing, digital, asset and cryptocurrency you. Got a lot of these loud voices like the shermanator in California. Speaks. Before he thinks you. Know doesn't, know anything about technology, represents. A lot that are in the high tech space. But. You. Know but that so, this this list is is very, very long you know it's it's really amazing. At how many of these banks get caught up in in. Money, laundering and corruption, but, again you know is it the digital asset so let's let's take a quick look at some, of these at. Some of these banks well let's start with Wells Fargo so Wells Fargo. 2018. Wells, Fargo, has fined 1 billion dollars, for insurance, and mortgage abuses. That also, filtered over to auto loan abuses. 2016. Wells, Fargo, is fined. 185. Million, dollars, opening. Unauthorized. Deposit. And credit, card accounts in an effort to boost its finances, now, anybody. Else would, actually, be, thrown, in jail now some of the people ended, up you, know getting, getting penalized, some. Of them probably you know did go to jail who knows how long they were there if. They ended up at all. But. The point is that many, of these banks are still. In existence today. Deutsche. Now Deutsche Bank I pulled out a couple, here because I thought it was kind of interesting going. To Bank, 2017. Find 630. Million dollars over, Russia money laundering claims, 2013. Deutsche Bank JP Morgan Goldman Sachs City. Investigated. For using corrupt practices, to get business in China, Deutsche, Bank ended, up paying two hundred and seventy. Five million. Euro, along, with seven other banks, performing. An illegal cartel. That, was fixing, interbank, exchange, rates a. 2002. I baked a ninety. Five million dollars to resolve a tax fraud case using. Insolvent. Shell, companies, that hide tax, liability. From, the IRS so, and this, goes on and on and on on the, list you know keeps getting deeper you know it's crazy how, deep it's gonna get us Bank 2018. U.s. Bank six, hundred and thirteen, million dollar fine to, pay a charge, for money-laundering. A bank, they had they had poro anti-money. Laundering controls. Or poor AML, controls, which, put the bank repeatedly. At risk for being used as a conduit for criminals, so all. Of these banks, and yet, and yet. They're, singling, out digital asset, right, so we're, talking about transparency and, more, transparent, more transparency.
You Know transparency. Is what it's really all about but. The central banks and the shermanator are so concerned, and so focused. On the fact that digital, assets are being used for nefarious purpose. Because, obviously from, what we know you, know banks can never do any wrong but, digital, assets, apparently, have centralized, control, by nefarious, parties, digital. Assets are used to launder money digital. Assets, are not transparent and can't be tracked digital. Assets are only used for corruption digital. Assets are only used to circumvent laws and taxes, oh wait. It's. Actually not the digital assets, that have been used for all that but it's actually the banks using, fiat. Currency, that have been caught up in all of that you, know so it's it's kind of insane, you, know when we look at the banks you know speaking, out against digital assets, and we see someone like the shermanator, speaking, out against digital assets, when we know that he's funded, by the lobbyists you know from the big banking, entities, and the big credit card processing. Entities. And that's who funds his campaign, and that's who keeps him employed, you, know because here's a guy who has to run for office every, two years so, he's beholden. To those, to the Masters that manage, the coffers, that pay his to pay his salary a salary, you know that he gets from you. Know running, for office basically, because. Each and into individual. Congressional. Representative, goes into office and it, seems like every single one of them comes, out a multi-millionaire. You know and then you have to wonder you know how it is that when they're a lifer, in Congress. And yet they didn't really hold, any other, significant. Position, and yet, this congressional, representative, comes out a multi-millionaire. And then the of the audacity to, sit up there and badmouth. A technology. That's actually trying. To trying. To solve. A problem that was identified, during. The financial crisis. During, a bank. A financial, crisis, caused you, know in part due to the, nature, of the way banks, were managing. Their. Funding, the way financial, institutions, were wrapping, up mortgages, and selling. Them off as. You. Know as investment. The way the government, actually allowed and forced. The banks into. A position where. They were actually creating. Looser, lending. Lending. Practices. In, order, to provide, mortgage. Loans to people that couldn't afford them you, know so is this big vicious cycle, but yet what, are we here outspokenly. We, hear that it's digital, assets, that are the bad ones the digital, assets that you, know don't actually you, know serve. A real, utility in a service, you, know process, so. On. And. Then let's let's drill this down down a little bit more now this is an article that actually appeared, on on. Market Watch and this, shows the bank's, you know that paid a total, of two, hundred and forty three billion, dollars. In fines, over the past ten years and that's, from approximately, 2008. They were approximately, February, of 2018. Now. One. Of the quotes that I pulled out of this which I thought was really interesting it, says most of these finds have been assessed or, misleading. Investors. About the underlying quality. Of the mortgages, they packaged, into bonds, during the housing bubble. You, know so that's kind of insane you, know that they you, know that. They even did that you, know it's insane that you see you, know at very high levels within within, the the banking space you, know you see you know a lot of fraud that goes on and these banks are all still around you, know for the most part you, know so so it's it's kind of crazy.