IMMINENT Black Swan Event (Ethereum & XRP MASSIVE News)

[Music] welcome to bit boy crypto home of the bit squad the largest and greatest crypto community in all the interwebs my name is ben every day on this channel i show you how to make money in crypto if you like money and crypto make sure to hit that subscribe button guys today we're going to be continuing our conversation about ethereum we're going to be taking a look at some news i've been given about xrp and uh the deposition that may or may not have occurred uh and then we're also going to be taking a look at the black swan event coming in the fall i think maybe i misunderstood some things i was told and uh i think now things are coming in a little clearer okay guys first let's talk about aetherium i mean we're almost at 2600 at the time of this recording and it's really looking phenomenal we've got the london hard fork coming up this week on wednesday really excited to see that now i do think what we could see is we could see a move to the upside for ethereum uh over monday tuesday and then wednesday we could actually get a pullback that's generally what we see is that buy the rumors sell the news the the difference between this rumor slash news and other types of things like announcements that we see from other projects is that the london hard fork eip1559 it does actually have a fundamental shift it's bringing a fundamental shift to ethereum that will create some on-chain analytics such as reduction in supply that will actually have very favorable effects on ethereum so if we go back to the last one i cannot even remember what it was maybe eip 33 23 whatever it was but i think that was the berlin hard fork what happened is we didn't really see a change on the ethereum network for the first few days but over the next few weeks we would see a big reduction in the gas fees for a temporary period of time is it got adjusted and then we did see some favorable things for ethereum and that you know some people would argue that's eventually what led to the giant massive run-up that we had as it went above 400 dollars so i think we could see something similar monday and tuesday for ethereum things should be very good um i've been uh told there are some large bitcoin whales and large ethereum whales that have been getting their wallets in order for some large moves this week so i think monday tuesday look for that uh for bitcoin and ethereum as well i mean we're talking about billions of dollars in bitcoin being moved around prepared uh for an incoming move today of course is your sunday sunday drive to church video where i tried to church to tell you about crypto i had someone ask me why i drive to church alone well if you want to know a little sneaky trick i actually usually ride around do this video and then go get the family and we leave i don't have a back seat in the demon unfortunately so they can't ride in here so we'll probably take the trx church today uh but the point here is i mean it's hard to take a demon to church am i right uh now let's move on let's talk about xrp for a minute uh because this this is something that uh was heavily speculated upon last week uh jeremy hogan i think was the attorney who made the statement that he believed that the deposition did not actually happen and if it didn't happen that would have been a really strong indicator that there probably is a deal coming very very very soon well i have been told that while no one has access to the deposition itself it definitely did happen william hinman did speak uh to attorneys i don't know who you talk to in a deposition i don't think you talk to the judge maybe you do but he made a lot of statements uh and i've been told that this is going to be sealed there's a good chance that uh we we may not ever see uh what came out of this deposition uh this may lead to i do believe this ultimately will lead to a resolution of the case uh so you know i mean guys we're in a little bit of a time crunch here with xrp i mean if we're looking at xrp pumping in the next two to three months we've got to have something break with this case sooner rather than later if you know what i mean so that's a little update on some information that i was given about this case and that it did in fact uh take place if you really listen to what jeremy hogan was saying i mean he was just um he was just creating up a scenario based on the fact that uh this deposition was not made public he said well if it didn't get made public by friday then it wasn't going to be made public it's not really true i've been told this is going to stay sealed so we'll see what happens there's always a chance that uh someone leaks it or that you know someone decides in the case you know some lone ranger makes the decision to release it that could always happen so let's talk about the black swan event coming in the fall because this one i've been talking about on this channel uh for a while now i took this information to believe that a black swan event was going to basically trigger the deflation so if you guys are wanting to know what's going on and we've talked about several times that a round two of the pandemic of the lockdowns could certainly be something that people would see as a black swan event so i asked some people in the know about this and uh you know there's a lot of conspiracies being floated around uh out there conspiracies that right now the federal government has already decided what they're going to do and that in two weeks um uh august 16th that everything is going to get shut down again so i asked uh you know some of my people about that and they laughed they laughed and they said uh there doesn't have to be a conspiracy here it's not like they're colluding to try to shut everything down again look at the number of the cases and the increase in the cases and the the variant and it's very obvious that that stuff is coming there's no conspiracy about it like we know the people who are in control we know the things that they like to do and we know that this is probably going to be a reality at some point i'm i'm really upset about sports man i hope this doesn't affect uh affect football and don't get me on that whole tangent about you know how serious this may or may not be but uh you know people are just getting right back to life and uh now it seems like the pendulum has swung back in the other way uh but this is not the black swan event that we're talking about uh i told you that the black swan event was going to cause the deflation well the black swan event itself is the deflation that's coming this will be an economic downturn that will affect people for decades anywhere between one to two decades 10 to 20 years if you look at a typical deflationary period can't go anywhere from 20 to 30 years japan has been in deflation now for 30 years you go back you look during the great depression this was right around a deflationary period and then um i believe late 70s that's when we had the next deflationary period so here's why no one is going to notice that this has happened this is going to be looked back upon as the moment that triggered this black swan deflation event but people aren't going to really understand what's happening this is not an overnight thing and by the way i've also been told this is already in progress we're already seeing it with these bond yields dropping and the bond yields dropping is important because that's the safest place to put your money in a time of deflation so a lot of people are going to be running to these bond yields and they're going to be yielding lower returns as well but the thing about it is you're not going to realize this is happening in the fall why well because what is going to happen is consumer goods are actually going to begin to decrease you know the milk prices have been out of control you know the gas prices have been out of control a lot of these prices are going to start getting lower and lower as we go as we go throughout the fall you guys write this down but by october november december go back and watch this video you'll see this is coming what happens is the consumer goods start dropping and everybody starts thinking that's a great thing things are now costing less but that's because of the crazy out of control inflation so when the consumer good prices start dropping down what's going to occur is that the companies aren't going to be making as much profit right now if you look especially what happened with the lumber prices out of control these companies are making money hand over fist but when the prices drop they're not making as much money so what does that lead to the big narrative right now is nobody wants to work and i know that's true because the government handouts have been coming fast and furiously well those are also coming to an end the the eviction moratorium was not extended this week so we are now looking at there being and this was a big fail for uh the current administration they wanted to work out some kind of relief package and it never happened which is amazing isn't it when they control everything they they control every every level of the government right now and they couldn't get this passed they couldn't come up with a package why because everybody's too distracted it's all part of the bigger plan so what's going to occur here is that we're seeing the government cutting the stimulus the unemployment unemployment money is going to start running out people are no longer going to be able to sit around and do nothing and collect paychecks that's at least paychecks of a sustainable wage like they have been so there will be a push for people to go back to work this idea that nobody wants to work well people are going to have to work on a fundamental level uh at some point this is going to swing back the other way and we're going to start seeing this in the fall so you're going to have consumer goods dropping in price you're going to have uh you're going to have the government handouts loosening you're going to have companies making less profits you're going to have people needing to work what's going to happen is the companies are making as much money so they're going to start reducing jobs they're going to start laying people off they're not going to continue with their plan to grow their businesses and expand while money is good and the in a lot of the businesses have been living high off the hog when it comes to uh when it comes to uh these uh government handouts as well because the businesses have been you know equally uh is blessed so to speak uh as individuals who have been living off the government they've created a bunch of zombie companies that are only existing to get stimulus money but that will be gone so what we're gonna have is a totally different environment shaping up in the fall than we had than we have now you're going to see the banks continue to hold on to their money they're no longer going to be giving loans they're not going to be they've already started cutting personal credit lines business credit lines also which is not being talked about but these are also being cut how do i know because it happened to my friend i know someone specifically the overnight was told he no longer was going to be getting business credit so we're going to see this more and more we're going to see this change over the fall by early next year people are going to be waking up i told you guys the big narrative of the late summer was going to be inflation the government itself jerome powell was saying yeah we think this inflation's a big problem it's all smoking mirrors don't buy into any of it i know the rallying cry of bitcoin and of crypto has been keep your money out of cash but there will be a time coming when cash could be your best friend no it sounds contradictory to a lot of things i've talked about on this channel over the last several years it's very contradictory to the message that most mainstream youtubers in crypto are giving you but unfortunately they just don't have the facts and at this point i do new information will make you change opinions and change decisions on what you think is coming uh and it's my job to warn you guys and to let you know that there will be a time when it is time to cash out a good bit of your crypto you're always going to want to hold some you always want to hold some bitcoin some ethereum some cardano some xrp those are good long-term holds just set set it and forget it with those ones with all the other ones you're going to want to look for high points and move over and get ready for what's coming in the fall all right guys that is all i got drop your comments down below i want to know what you guys think about the xrp deposition let me know where you think ethereum is heading to and let me know what you think about this deflation coming in the fall i don't care whether you think it's coming or not i'm going to hear what you think about it because it's coming nothing you can do about it all alright guys that's all i got love you guys be blessed good boy

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