US Imposes Capital Controls Through the Backdoor.

Friday June 9th 2023 Monaco 64 home of alternative economics and contrarian views we're going to look at why in my opinion the U.S treasury is imposing Capital controls through the back door yeah the U.S government and why they're doing that well that's what we're going to look at today before I start though I like to give a shout out to itm trading and Miles Franklin they're

two of my Affiliates in North America for precious metals I think is more important than ever after you listen to what's going on to have some physical gold and silver outside the system in your possession or in a non-financial depository I think it's more important than ever so if you're thinking about buying gold or silver check out the description of this video for itm trading and

Miles Franklin I I can vouch for them they've been around for many years and uh yes uh they're a hundred percent trustworthy I would say so I have covered cryptocurrencies of Bitcoin on this channel uh quite a bit in the past I used to tell the viewers that uh it was a highly speculative Venture yes the idea of Bitcoin is very interesting the white paper um

how it works it is uh kind of an anti-dollar but it is very volatile so I always told people to uh yeah not bet the whole Farm on it and uh one other important thing I used to tell people is or was and still is to keep your uh kryptos uh in your own private wallet use exchanges only when you really need to exchange your crypto

for fiat currency or another a coin and then get it out and put it in your private wallet and why is that well because first of all you can't really trust all exchanges a hundred percent we've seen in the past uh what's happened to some exchanges uh FTX mount gox um and you can't trust the US government either and that's what's going on right now um

and I haven't been following this too closely but it seems to be uh culminating and getting worse so there's news from uh this morning here like in the garden it says binance U.S repairs to suspend U.S dollar deposits and withdrawals from exchange company tells customers to withdraw their US dollar dollars days after U.S Regulators sued the company and its founder there's also a story from three

days ago SEC crypto crack Crackdown U.S Regulators Sues binance and coinbase so these are uh I guess the two biggest exchanges uh in the world or in the us as well and the other thing that locks Americans imposes de facto Capital control is something called facta which was a law signed into existence by Barack Obama which basically makes it really bureaucratic and difficult and not worthwhile

for foreign financial institutions to have American clients so I'm afraid uh they're worried what what are they worried about well D dollarization they're worried as well about the collapse of the banks the banks uh are not getting any better and we're gonna quickly look at that too this morning so that's what I think is happening you might have a different idea uh crypto like Precious Metals

is an alternative to the Fiat dollar which we know is going to continue to be inflated out of existence especially uh after the this financial responsibility Act um we've got no debt ceiling for the next 18 months uh like Clive Thompson who came on a few days ago said they're going to be able to fill their boots in terms of spending I saw President Biden said

he's gonna support the Ukraine uh and give him support no matter what for for as long as it needs be so uh all the Billings are going to be flowing out all the buildings are going to keep be kept creating and in terms of the banks you can see here um there's a tweet here um from Keith weiner he retweeted something yesterday Banks bought long-dated Treasures

in 2020 since then bond prices have dropped banks are underwater so the FED offers to lend them money based on what the banks paid not on current market value one interest rate for the another for me yeah it's not fair the fed's there to bail out the banks it's uh the bankers uh bailout fund which is basically uh financed by you through inflation through taxation is

it anyone that the bankers in the top uh one percent or even the top 10 percent keep uh keep getting welfare while the general public in the middle class uh keeps getting eviscerated so this is what the fed's doing here the fed's new Emergency Loan facility it's not that new it started out in March when uh a few Banks svb and a few others collapsed uh

just hit 100 billion in usage uh it lets Banks receive part for their devalued Assets in secret so I'm not sure if this is going into the fed's balance sheet it says banks are turning 50 cents into a dollar without other Banks knowing they're distressed and backing away Band-Aid for now but hidden risk is spreading so I suspect a lot of people who are in the

know a lot of people in the alternative space who might not be in precious metals like we are but are in crypto they see this and and they're trying to get out of the dollar and the treasury is going after these exchanges because that's a bridge out of the dollar so that's why I think this is uh Capital controls through the back door could they come

uh space so that's what I wanted to talk about today and just before we quickly look at the markets just notice how the fed's balance sheet actually they published the numbers every Thursday night or afternoon it actually went up slightly uh last week so they're back really where are they back to we're at uh 80 83 89 so yeah they're back to where it was in

February so all the quantitative tightening that's happened since February has been Net Zero so the feds bailing uh the system out so much for QT uh with that let's quickly look at the markets this morning it's quarter past 8 A.M we got spot gold unchanged it's trading around 1964. it's actually down a buck Heisman 66 low 62. gold and silver recovered really well yesterday they did

keep gold from breaking through 70 that would have marked an outside Day from the previous day where they smashed it but that's the key level 1970 silver did really well we're at 2440 right now up uh 13 cents stock market is slightly lower is down about 0.2 all the major index Futures I won't go through them uh but just suffice it to say they're down slightly

uh the currencies as well are pretty much unchanged except for the dollar uh versus the Yen the dollar is uh up half a percent versus the Yen but again the yen is probably the one of the worst Fiat currencies out there along with the British pound I would say and uh with that I'm gonna just quickly look here at some of the Commodities uh we've got

WTI Crude down two-thirds of a percent trading around 71 Brent's trading around 75.50 down half a percent uh high grade copper is up half a percent at 382 and uh let's see uh where the uh guilt Market is the two-year Guild that's a key level key rate to keep an eye on well that's trading around 457 uh I think 462 is the level you need to

watch I'm going to put a link in the description where you can keep track of UK guilt yields if you're in the UK or if you're interested anywhere in the world I'll put it in the description uh let's quickly look at the U.S treasury market uh we've got the 10-year yield yeah that's that has come off yesterday was around 380 when I uh updated you right

now it's at 375. it's up three and a half basis points so why did yields go down yesterday in the U.S why did gold and silver recover well you had very uh weak or uh let's say a high jobless claims number I think it was the highest since uh I'm not I'm not sure when but it was quite high it was like 261. recently we've seen

this number in the low 200s so that's a sign that the economy is slowing that more people are claiming for weekly unemployment benefits so not not a good sign and uh yeah um Capital controls through the back door they can always find an excuse The Regulators the treasury and I think they're desperate they're trying to keep people in the banking system they they don't want you

into crypto outside the dollar system they're desperate uh will they succeed I I don't know I don't know hopefully not because it's a system not worth perpetuating so with that I'm gonna wish you all a very good weekend take care bye