Yes, I just want to you know hold the baby I don't want to be a baby with me tonight That's the way we do things this is the best the best strategy
How are you doing guys? Have some work I want to go up here, feel free my friends. This is always a free space. Today I'm being the host.
I think it's kind of disappointing because Hermes is such a good host that I'm kind of sad that he's not here talking with us. Okay, he's requesting to have them. Okay.
- How are you doing? - He was my great company here. - He is a great galbine. How are you doing here? - Yeah, she is. I agree.
Morning morning family. Thank you for your kind words. How are you guys doing today? Starting in a new week? Happy for you, Danny. A health long and wealthy life to your needs.
helped to have Siwaf back here, missed you brother hope to have a lot of news for us and I'm stoked to start another week around the Bayou
That's that's cute my friends. Thank you. I think the inevitable topic of today it is SVB How the weekend was like weekend was crazy I I don't know what's
I was seeing my family here and at the same time I was checking the phone if something changes if you ask this he was a student baggy so I was like when I on the cat and other in the fish I don't know if English have
this expression but parties have so I was like that all the weekends but at the same time I thought things would resolve eventually not anything serious will happen like really really cut this cut us
traffic or a pro-caliptical? No, yet actually. And I think I think FAD saved today or saved tonight, yesterday. Everyone was expecting a bloody Monday and I
actually was pretty nice because of it. So how do you guys feel at the situation? How do you guys feel at the situation? How do you guys feel at the situation? How do you guys feel at the situation? How do you guys feel at the situation? How do you guys feel at the situation? How do you guys feel at the situation? How do you guys feel at the situation? How do you guys feel at the situation? How do you guys feel at#
What I see is that the market is pumping 8% today and this morning. I mean, I don't see sex saving the day to be honest. What I see is that banks and the sheet BSSC projects in which I work.
work before joining Web3 are the same and the rug that we see every day here, they are the same. You know, for me, SAC is just the excuse that they need to to rug. And all this, all this has already been talkative to
small circles, you know, and close the doors and everybody knows, everybody in this, in this upper circles knows where we are going because how can it be the second, the two banks, the most important banks for the click
Crypto market marketing general got bunker roots and like a week and The market is pumping so I think that My conviction only grows that the ones who bought the eater at Less than one thousand dollars
in a couple of months, not a couple, but a few months ago made the best deal of their lives because we are never get back there again. That's how I see it. I think that they are ruggedness.
people know that, you know, the way of know that. And they are buying it. We can't see a small run, a boat trip or whatever at any time. So I wouldn't be amused if I ever wake up to
to market bumping like 30% in the next weeks. That's how I feel right now. I might be totally wrong of course not financial advice at all, but I can only see good things coming at least in the medium term.
Yeah, I'm glad because now I have a healthy amount of ether but okay, that's great. I think there's no unhealthy amount of ether
As Lallus said, he said that he bought an unhealthy amount of ether. But yeah, to me, there's no unhealthy when he comes to ether.
Yeah, I didn't bought, strangely I didn't bought any ether because the money that I had in this puzzle to each buy
to buy it was in USDC and I didn't want to sell it as DC unpacked. So that's that. The other thing is, is important to mention is that
It is strange how people are reacting right now with this news. We have people that are buying it because they don't trust stablecoins anymore. We have a lot of people doing a lot of things but I'm oversimplifying what is happening right now and what the
data-onaching data show us in what most people are talking about. We're talking about two separate movements and opposite movements. People buying it and trading all stable coins per eighth and the other side is
People there are in have like money on fintechs going to traditional banks I'm seeing these two movements Because people don't trust digital banks or small banks They're trying to move their money to big banks or banks
there are very very very old because they have more assurance and more reputation overall and the government certainly will bail them out. Everyone knew that this was an option.
Since the beginning of the SBB crash, people were in the table fat bailing out SBB, but the thing was, it is worth it for the fat to do this movement because inflation is pressured
all things are pressure, interest rates are high because of inflation and doing this movement maybe be something that will increase inflation and the thing is if it is a big bank a big traditional bank it's hard
say that the fed will not bail out but if it is a smaller bank it is possible that the fed will just let crash. But the thing is people are trying to move from FinTech to traditional banks and stable coins from from 8th.
These separate movements and people that are doing these different things are different persons as well. But not in every case. In some cases, the same people are doing the same opposite movements.
How ironic is it? What is gaining capital right now? What is gaining liquid zero now? ETH and traditional banks. People are apparently running from the middle, you know, the middle, the bridge,
In 8th and traditional banks are like fintechs, stable cornings, all that are things that are in the middle. People are running away from that. How do guys see that? Is this movement that will stay for longer? Or is just movement for this week and the next one? What do guys think about this?
I think that is circumstantial. I think that the world and the capital in general is living in a very important crisis for more than a decade right now, like we never recovered from 2008.
And I think that something will change. And unfortunately the way I see it, people will be more poor. You know, the poor will be more poor. And this, this
of miserable, those will enlarge while the small one will enlarge less. I think that the economy is globally changing and crypto is included in
in it. We are going to fly. We will move eventually. But right now it's a transition point. That's how I see it.
That's something bigger is coming and in one year or so we will see a lot of big changes in the way money and financing work. That's what I'm waiting for at least.
Yeah, if we... A lot of people were talking about this last year and I think things are kind of unpredictable right now.
like the effects, the short-term effects of some episodes are pretty unpredictable, but in the long run, we know that this is the economic model being
That is all the economy that we have, this global economy that we have, is a pretty giant experimentation. We know this from modern monetary theory. It is all just an
big experimentation that started in the 70s with the deep bag of gold with dollars. We people that are in crypto, most people know about this, about Nixon, stuff, and
how dollar isn't backed by anything than just trust. And the thing is that Fiat money is going to be tested at this limit right now. Banks will
be tested at is is live it and crypto itself will be tested at is live it as well because the we we always talk about web tree and how a tree will decentralized web will will happen but we need to remember
that all things started with crypto and how and to avoid being contaminated with this with this large experimentation of Fiat money. It will be interesting to see probably
will be very hard for a lot of people because economy is full of collateral. If you do something in one part, you will affect other parts. It's all linked. The connected part of the
of the economy, the next work part of the economy is the most beautiful and the most dangerous thing in the economy. It is the thing that provides facilities logistics, but it is the thing that is dangerous and contagious if something
gets wrong. So let's see what will happen. Quiddies with us, not right now. How are we doing? Jim, Jim. Hey friends, yeah, I'm still having some troubles with my internet so if you guys stop hearing me, please, please say, I don't know
What's happening here, I already tried to change the internet provider, but hey, that's how life works, man. How are everyone? I didn't have the chance to hear everything as you guys said, but I was cherishing for you guys.
GMGM everything is great my friend we're talking about Silicon Valley Bank and Fed building out I think is the topic of the day we can't we can't stop about all another
We can't talk about you as you see for instance, but it's all linked at the end of the day But yeah, what is your point of view on what just happened on SVB and
and fad doing things, doing this kind of thing. How do you see the, the, the, the chart, the long run and the chart run of this measure? Man, it's crazy man, like, I was just talking with some friend about that, like,
Like we had in less than a week we had like super gate going down we have Silicon Valley Bank and Signature Bank man like that's that's so crazy man I was shocked at last night when I get to know that signature bank was going down because
This signature bank was one of the banks that I used working on Web 2. So like, man, come on, I was part of all this situation. And like, the situation is a mess right now, man. So I was kind of shocked because I didn't expect all these banks going down like this
fast man, that's cares me. And even though I know that all of this isn't related with Crypto at all, we have some centralized players, some collection having funds on SVB, but man, we cannot cherish for banks to go down, especially right now, we know that
situations not good and I do not like how tree banks failing basically failing in a week is going to look like for the whole world like in one way or another just we will affect crypto and probably not in a good way especially in the in the short term
I don't know that they can be the long term that can be an escobage man. People are not going to trust taking risk with their money. If they don't know if their bank even has their money. So I'm a little bit worried, not with crypto but with the
the macro situation at all. But yeah, I'm trying to keep my head up. I saw that SVB is going to be... SVB is being bought. I don't know what bank is bought in it, but for one euro. And that's very funny.
But I saw that FDIC is going to bail out all the funds. I saw that circle is going to basically recreate the bag for WSDC. But man, I did not expect everything to happen in a short term. I'm kind of shocked. I don't know about you guys.
Yeah, so I was reading the news and they were using guys. I'm sorry. Can I share a quick, very quick info?
Okay, go ahead. If you're gonna say that another bank is going to bring crap, please don't. Oh, yes. More two banks. No, just joking. I'm completely one year off. Okay, today.
Yeah, one of your relations my friend Welcome welcome to your second congrats congrats
So go ahead, sorry guys, let's talk about that. You can raffle on NFT. I think she should have raffle on NFT in celebration of what you guys think. Exactly.
Like among your colleagues, just colleagues that like in the retweet. Going a little bit forward with what it said,
It is interesting how things are happening because I like when I like when fed personally I like when fed my the fed
brings money because the cryptotases at the beginning of all
It is to avoid being exposure to inflationary state economy. We have assets that are scarce, so they evaluate when things like that happen.
What this means? This means that the biggest pumps of crypto were happened when inflation was high.
interesting rates were low and the real interest rates were pretty negative. So this kind of moment, the moment that crypto is scapevolve, it is a time that
crypto makes more sense and it will make more economic sense for fans, for even banks, for people and retailers at the same time. It matters at the same time. If you are familiar with the
In fact, you are familiar with banks and financial institutions receive money first. If they receive money first, they have more purchase power and they are not affected by inflation. They are not affected by inflation, but they
they have the money of the inflation. They have the money that will create inflation. And this happened with crypto. Crypto for the first time created a valve of escape that created our
a gateway of the council on effect for some people people their exposure with crypto so liquidity appeared first in crypto and then we had inflation so what this means is that people that are in crypto
in inflationary times, but inflation isn't in the records yet, have more money to spend, have more purchase power, and inflation didn't hit yet. What I'm trying to talk is that
Feds doing these kind of things, having this kind of behavior. It is actually benafical for crypto because this is in this kind of moment that crypto was made up. It is exactly for this kind of moment. 2008 was the same situation.
So, if two people is made for people to benefit when the financial institutions get some big outs and help from the money printing, the central bank money printing. So, it is
It is great, I would say, to see that. Personally, I feel that this is kind of a fad, doing what is, how is done, but we now have a way to gain of it. Not just banks. What do you guys think?
So the new lunatic or this makes sense. I don't want to be selfish and say, oh my god, I'm so encrypto. Yeah, print more money because you know, I know the economy still works with 5-2 currencies. But yeah, certainly
I think it can be a great gateway to people to start to invest more in crypto. You will help us in a certain way to talk about crypto without receiving answers talking about
I think people will start to see crypto as a great option to run away off these things. Yesterday I was with a friend of mine. He is North America and he was talking about how.
how United States are collapsing and how he's hearing more and more about crypto in a good way, you know, not anymore in a ponzo scheme way, in a bad way.
Yeah, and then think that the position that the banks itself are now or they put themselves in this situation crypto became like
It is very, very, most of crypto-adjust business rent. This makes totally difference when you are comparing this two things.
banks, and traditional institutions, and crypto markets, it's very very relevant that is transparent. I want you to pin out a tweet of Elon Musk. I'm just
Oh the meme the meme tweet. Yeah, it was a great tweet He said it is totally true no because You can you can you can I agree I agree with
With this I can't believe I'm agreeing with Elon Musk. Okay, but okay, I'll never forgive him But it's it's kind of the meme is he's telling you know Because banks
don't have the money that they promised that they should have. Any bank can crash because of bank run.
The bullshit, the sketchy thing is here is that how can it be that the banks doesn't have the money that they should and no one is looking at them? I mean, how many banks we have and how many crypto companies that we have?
and why are the banks being outgicted and watched as they should? Because it goes as actually in the sense that what I said earlier.
You know, this is coordinated, this is not they trying to protect anyone. You know, it's a movement to rug. They are giving these banks and their companies the excuse for to rug so they can start again. The five guys, please go ahead.
I think my mic is a... I don't know if my internet is okay. Can you guys hear me? Yeah, fortunately. Happy. Glad you weren't here, friend. Yeah, thank you guys. I mean, I think what's happening is that the problem with US Bank,
the US banking in history banks in US are the it's the country that Goal Bankruptcy you know because they have this idea of regional banks so it's not like Brazil which is very concentrated and US they don't have
they call compulsory deposit, you know, it's like zero or close to that. So most of the, so when you deposit your stuff, your money there, the US bank is are gonna, are gonna put this in long-term treasury
or they're going to invest in other things and when they do this mismatch like we're seeing with Silicon Valley, they don't have the liquidity and when there's billions of dollars of withdrawals it's over you know that's why they they did with signature because they saw the
their book value all this was very close to happen too. Before open up the banking they just took control of signature because they knew that the same thing happened with SVV can happen with signature and there's another one called first we
public that they're very close, they're looking very close to you know. Most of that because you ask don't have this compulsory deposit like in Brazil, I think Brazil is 40% something like that you know and I mean in the long term I have this
even posted a headlion Twitter thread here that maybe can be a coin incident or just like conspiracy but like the Bank of Statenman International Statenman say that crypto is a systemic risk for them and you ask
has the same idea. So if they can block all feet on ramp and off ramp settlements from own shore companies to crypto, they're gonna try to block every single American to have access to crypto. If they
if they could. And now signature is off. Silver gate is off. There's another one called, I forgot the name, the Coinbase used to do on ramp and off ramp two. They're going to go to every single way that Americans
have contact with crypto. That's the idea they call the choke point 2.0. When Obama was in the power, they did the same for casinos and poker. And probably they're doing that on background for crypto.
I think they're just seeing that for them crypto is systemic risk. That's why there's even a Twitter influencer said
It's pretty now after signature getting bankrupt and on other ways to have this instant settlement is getting worse for crypto. We're kind of in 2014, 15 again, you know,
like Americans need to use like a Japanese bank to transfer money for crypto. Eventually, that's what the US government wants. They want everything to get out for them.
Go ahead, good one, feel free.
I was just remembering that on 2012-2015 I don't remember exactly what the guy just said. There is no bank on USA that has all the money that
It says it has. And that's weird, man, because if we dive deep into this situation, probably, I'm not going to say all of the US banks, but most of them are insolvent men.
yesterday that someone saying that JP Morgan has like, I don't know, like, 2 billion in assets and like 3.3 trillion in liability. So like, there is no one safe in that situation, but that's sad, man, because I don't
that a lot of these money are form like institutions and corporations but we also have people and that's what scares me like people are going to be affected by these people have lost their jobs and etc so that's really sad man and that's really sad and sad it's even sadder to see like that it's
not all the banks like they are not trying to solve this problem they are just trying to go after some of the banks that they think I don't know like they are creating some relations with crypto or they are like I don't know man that's that's that's sad man I'm not comfortable with all the situation and it's getting weird
for me to see the US government trying to do all these things happening on a Sunday. That's not something that we should be cherishing on, I think, but something that we all should keep an eye out. There is no one safe.
saying that way. And like we always say like if this if it's not your keys not your crypto and like we all know that we shouldn't be trusting on banks but in the other day like man we need banks now like even to like do on-ramp and off-ramp transactions so we should not
not be cherishing for all of them to go down like tomorrow, but we eventually will, I think we will start to create some other solutions because we should not trust that the banks have our of our assets.
Yeah, I mean, I agree on that. But I think there's even a big, bigger plan and long term plan here is that we are now we have two scenarios. You can go full centralization or full decentralization, you know, so CBDCs, they cut their
risk of private banks creating fake money because you have direct contact with the government. So it's like what China is doing. So it's kind of interior, you don't need banks anymore, you know, for a bunch of things, for payments,
like pigs already in Brazil cut a lot of revenue from banks for Ted and Doc. Eventually for take loans all that you're going to have everything in centralized banking. And you don't need cash.
real cash, you go to agency, bank agents in Brazil and take money. Now you don't need to do that anymore if you have the digital rail, for example. And you ask they're creating a CBC, a group on MIT, they're doing that. There's even a senator in
In Newhouse, let's say that they want to abolish all private banks because in theory it's an old tech. You don't need anymore if you have centralized programmable money. The only way, the other way to compete with that is
you know, way fintech and crypto because they're more decentralized, they know better, they're customer because they can, you know, enjoy it because the big banks right now, they don't know anymore like the average person. They're so big, they don't, they just go
go and buy treasuries, they don't invest in entrepreneurs a lot. If they do, they go very risky. They're not kind of helping the growth anymore. They're just gambling a lot.
And eventually the smaller banks or even think tax they're going to fulfill this role that is helping small business or medium business and crypto can go there too.
There's even on the Brazilian real live stream, they mentioned that interior they don't need a private bank anymore, but they created all the system to include the private banks, you know, because they need that. So I think what's
What we are seeing is the total disruption of private banks. And now you have full centralization like China. Or the competition is thin tack and crypto. The private banks are in a very bad shape right now.
Yeah, let's see what will happen. It is indeed a very interesting. It is for a long time we did talk about what could happen with banks.
what could happen with the Fiat printing money and interest rates and inflation and it is one thing is good out of this that most of the things there are
happening now. We were talking about seven months ago, or maybe years ago when people were talking about inflation. We are seeing, we are seeing it happened and we are seeing the results of the actions
Nothing that you do in the economy goes unpunished, I would say, but everything that you do have a collateral thing. So it's important to see that.
And we are now seeing actually real change in the financial system. Of course, it is not drive by D5. It's not drove by D5 or stuff like that, not yet.
But the banking system is changing and the financial system is changing. Because of crypto or not, I don't know. But I think that the Fiat system is kind of stressing out.
What is happening right now? So thank you guys for being here. This is where is Alizos and Jam. Nifty Par with Nas Brazil. It's great to have you guys Kuri, Hermes, Danny and DeFi guy. Thank you for being here and see you tomorrow.
Thank you, nice to see you here if I got a great day. Have a great great day. Yes, right