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Feb. 24, 2021 - X22 Report
18:53
Ep. 2413a - The Fed System Goes Down, The People Are Pushing Back
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Welcome to the episode of the Cinecraft Podcast.
Hi and welcome.
You're listening to the X22 Report.
My name is Dave, and this is episode 2413A, and today's date is February 24th, 2021, and the title of the episode is The Fed System Goes Down, The People Are Pushing Back.
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Let's get into the economic collapse financial news.
The deep state, the central bank, the mainstream media, they're panicking right now.
Yesterday when we mentioned that Bill Gates, Janet Yellen, the other Fed head, the mainstream media, as they all came out and they started to talk about Bitcoin, how criminals use it, how it's not efficient, how I would never invest in it, and I'm talking about Bill Gates, that was their move to push Bitcoin down.
Yes, they're going to use information, economic information warfare.
And yes, they're going to do this multiple times.
Now, they might take this a step further.
They might have an institution drop a lot of Bitcoin to try to convince everyone that everyone is dropping it.
They might have ransomware where they display worldwide that there's this ransomware out there and they're demanding Bitcoin to show that it's criminal.
Yes, they're going to try to use everything they possibly can to shut this down.
But you know what's going to happen over time?
It's going to get harder and harder for them because the people are going to see through this.
And every time they try to push it, Yeah, it might drop a little bit, but the drops are going to become less and less as time goes on.
And we're going to see Bitcoin continually move up.
Now, think about this for a second.
If I told you eight, nine months ago that Bitcoin is going to be around $40,000 to $50,000, everyone would go, that's impossible.
That's crazy talk.
Why would that ever go up to $40,000 to $50,000?
What happens if I tell you if it's going to go to 100,000, maybe by the end of this year?
Does that sound ridiculous?
What happens if I told you gold could do the same thing?
What happens if I told you silver could do the same thing?
Move up like we've never seen before.
Well, how can these currencies, the precious metals, how can they move up like this?
How can they do it?
Something doesn't make sense.
Unless the dollar is failing, people know the dollar is failing, and people worldwide know that the currencies that the central banks control, they are failing.
If people understand this and they know this, and they know the system is rigged, what do people do?
Well, they want to protect their wealth.
They want to make sure that they don't go down with the ship.
So people start to move in a different direction.
And this is exactly what we're seeing.
And the central banks around the world, they're panicking right now.
We'll be talking a little bit more about this a little bit later, but I want to talk about this stimulus bill.
That Biden and the rest are pushing.
And I want to back up just a little bit.
Remember when they came out with this stimulus bill and Trump went on air, he made a video, and he told everyone where all this money was going to all these different countries.
He said, why don't we give the American people $2,000 instead of $600?
There's a reason why he did this.
He wanted to show the American people That these individuals in Congress, they don't have the people's best interests at heart.
They're not creating this stimulus bill just to help the people.
They're doing it to help themselves and others that they promise payoffs.
And they're laundering money.
If you look at the latest $1.9 trillion stimulus bill, Well, where is this money going?
Because if this is just to help the American people, then the money should just go to help the American people.
Period.
That's it.
Because these individuals destroyed people's lives.
So where is the money going?
Well, we have $1.5 million.
It's earmarked for the Seaway International Bridge, which connects New York to Canada.
Well, should that be in there right now?
No.
How about the $50 million for family planning, going to non-profits, Planned Parenthood, or public entities, including for services for adolescents?
Is that necessary right now?
No, it isn't.
We know where the money goes when it goes to Planned Parenthood.
It's laundered.
It goes back to who?
It goes back to those individuals that need this money.
And I'm not talking about the mother's We have $470 million in the bill doubles the budgets of the Institute of Museum and Library Services and the National Endowment of the Arts and Humanities.
$200 million in the bill to the Institute of Museum and Library Services.
By the way, the budget for 2019 was $230 million.
This agency is so small that it doesn't even employ an inspector general.
$270 million funds, the National Endowment of the Arts and the Humanities.
The 2019 budget was $253 million.
In 2017, our study showed that 8% of all nonprofit grant-making flowed to well-heeled organizations with over $1 million in assets.
$350 billion to bail out the 50 states and the District of Columbia.
The allocation formally uses the unemployment rate in the fourth quarter of 2020.
Therefore, states like New York, California, who had strict economic lockdown policies and high unemployment, well, they'll get the bailout money.
Why do you think they did this?
Why do you think they calculated?
Because they were promised a payday if they kept everything shut down.
And this goes on and on and on.
Of wasteful spending.
A lot of this money is going to go right back to the corrupt politicians.
They're going to launder the money out in different nations, in different areas, and they're going to bring it right back to themselves.
And they're paying off certain individuals.
We've seen this before.
But what's very interesting is that, has anyone received a check yet?
No.
How about the promised amount?
Not yet.
But they just wrote a bill to start a racism center at the CDC. Because that's something we need.
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Now, what's very interesting is that Biden's corporate tax hike that he's proposing, where it sounds great where people say, yes, we're going to tax corporations.
Well, it looks like this is going to cut jobs, reduce wages, and depress growth.
Now, Biden and the congressional lawmakers, they proposed several changes to the tax code, including raising the corporate tax rate to 28% from the current 21%.
The level that Trump administration brought it down to from 35%.
The Tax Foundation said in a new report that was released on February 24th that the Biden administration plans to hike the tax rate for corporations would eliminate 159,000 jobs, depress wages by 0.7% and reduce long-run economic output by 0.8%.
Well, you could see from what Trump has done, companies were hiring.
Wages were going up.
It had the opposite effect.
And now this organization, the Tax Foundation, in their report saying, well, if he does this, we're going to lose more jobs.
Yes, you are.
Companies are going to contract.
What do you think they do when they have higher expenses or more taxes or more regulations?
They don't expand.
They contract.
Take your household, for example.
This is a very simplistic example.
You have a steady income coming in.
You know what your car payment is.
You know what your insurance is.
You know what your mortgage or rent is.
You know what your electric is.
You know what your gas is.
If someone says, oh, by the way, now you're going to pay instead of, let's just make it up, 20% of taxes, it's going to go up to 35%.
What happens?
Do you have to cut things?
Yes.
Because now you have another expense coming in.
You knew how everything was going.
You knew where the money was being allocated.
And now you're going to have to say, okay, we have to turn down the heat.
Can't use that much electric.
We might have to get rid of the car.
And this is what companies do.
They don't expand and give people more jobs.
They contract.
Just like the $15 minimum wage.
Companies, especially small businesses that are barely making it, of course, right after the pandemic, this is not going to help the individual.
Yes, it sounds great when people say, oh, let's get $15 an hour.
But then all of a sudden you're like, well, I can't find a job.
Why?
Because the small businesses that make the majority of businesses here in the United States, they can't afford to have all these people.
So they eliminate jobs to make ends meet.
People don't see that part.
All they hear is $15 an hour and then they realize there's no jobs.
Now, what's very interesting is that yesterday we saw a couple of announcements.
We had Bill Gates out there.
We had Janet Yellen.
And they're all telling everyone how bad Bitcoin is.
Don't invest in Bitcoin.
And remember, their whole entire motivation for this was to make Bitcoin drop.
Just like when the mainstream media during Trump's term, they wanted a recession.
During the pandemic, they said, oh, look at this.
This is terrible.
And we had the big players out there dumping stocks, trying to get everyone to join in.
It never happened.
They tried to raise the interest rates during Trump's term to try to bring everything down.
It didn't work.
So here they can't manipulate the blockchain.
So what they have to do is they have to use information.
Now, what's very interesting is that Janet Yellen, she was out there saying that Bitcoin is inefficient and criminals use this.
Well, according to blockchain tracking from Chain Analysis, criminal activity accounted for 0.34% of cryptocurrency transaction volume.
In 2019, criminal activity represented a 2.1% of all cryptocurrency transaction volume, Or roughly 21.4 billion worth of transfers.
In 2020, the criminal share of all cryptocurrency activity fell to 0.34%, or 10 billion in transaction volume.
One reason the percentage of criminal activity fell is because overall economic activity nearly tripled between 2019 and 2020.
We also should note that at the time of the writing last year's report, They reported that 2019's criminal share of cryptocurrency activity to be 1.1%, the reason for the change in the identification of more addresses associated with criminal activity that were active in 2019.
Most of those addresses were related to scams that had yet to be identified as such, and now they have been identified.
So actually, the criminal activity is dropping.
Compared to the U.S. dollar, compared to the banks that were caught money laundering, compared to the Federal Reserve, a criminal enterprise where they're never audited.
So what she was saying is completely untrue.
And people starting to realize this.
Actually, as more and more people join in, it's going to become harder and harder to push Bitcoin down.
They don't have the same control as they do with the gold market, where they can use paper contracts.
It's a little different with cryptocurrency, and they know they can't fiddle with the blockchain.
Yes, they can use institutions.
Yes, they can set up false flags with ransomware.
But the other thing that she said that was very interesting is that Bitcoin is very inefficient.
Well, you know what happened today?
The Fed, their entire system went down.
Their FRB services, they were offline.
Including ACH and Fedwire.
What did that mean?
It meant that the system that is used by all the U.S. banks that execute about three trillion in transactions, they couldn't do it.
Everything came to a screeching halt.
Coincidence?
I don't know.
But what we're seeing, we're seeing a lot of other companies join in.
Now, since the Fed system went down, what other system could we use if this happens again?
Wait a minute, Bitcoin.
Bitcoin, you can transfer.
It's not dependent on the Fed.
It's decentralized.
A lot of stores are starting to take it, and I think this is just going to expand because, as we know, we have Visa, MasterCard, Apple Pay, SquarePay now.
They're all joining in.
Corporations are joining in because they're starting to realize that the people are moving to something completely different.
They're moving to a new system.
And as more and more people understand it and as more and more people join up, you're going to see Bitcoin move up.
Yes, the central bank, they're going to try to push it down.
Yes, the mainstream media is going to come out with announcements.
Yes, they're going to try to push it down.
And yes, it will drop down.
Look what happened going back to, what, 2017 or so?
When it hit an all-time high of 9,000 and then all of a sudden someone dumped Bitcoin and it came down and everyone thought, that's it, it's over with.
Then all of a sudden, Bitcoin started to move up again.
And here we are where it came down again, what, $10,000, $12,000?
People said, well, it's done.
It's all over.
No, this is a battle.
Did you really think it was just going to go straight up?
Did you really think that the central bank wasn't going to fight back?
Did you really think it was going to be that easy?
Well, it's never going to be that easy because the central bank, they don't want to give up control.
They have a different system.
They have the great reset.
And yes, they will fight and fight and fight.
They will try to manipulate.
They will try anything they can to stop this.
But you know who has the power?
The people.
The people have the power.
Because if the people ignore it, if the people don't pay attention and they say, you know something?
I believe in this.
I think this is a good thing.
And people see how it works.
And more people join up.
They won't be able to stop it.
I think Bitcoin right now is going to shoot right back up.
Yes, it might take a week.
It might take two weeks.
It might take a month.
But we're going to be right back on track.
Yes, then the central bank, as they see it move up, they're going to try again and again and again and again.
But each time it's going to become more and more difficult because they'll be losing control.
The only reason they came out with the news is because they're panicking.
They don't like what's happening.
They want their digital currency.
They want the private central bank currency.
They can control that.
This?
They can't control it.
It's decentralized.
And the people have the power then.
Remember, the private Western Central Bank is set up in each country.
They're the ones who create the currency for the governments, for the people.
When you remove their ability to create currency, what happens?
They lose all their power.
That's what they see.
The people are in control.
Listen, everyone, thanks a lot for listening.
Be well, be safe, and especially be prepared.
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