So just try to follow along because the the sequence of events for me is a bit too it's a bit too obvious and without further ado it says, as the markets continue to drop. The United States looks to Congress for an agreement on a massive stimulus package to save the economy from the current world events the newest offer. My House Democrats includes a very forward looking kind of stimulus. The creation of a digital dollar and the establishment of digital dollar wallets. Tell you why this is a bit weird in what will send shock waves through the cryptocurrency and blockchain industry, particularly for those following central bank digital currencies around the world. This signals the u.s. is serious and establishing infrastructure for a central bank, digital currency, both speaker Pelosi's, to take responsibility for workers and families act. Any financial protections and assistance for Americans, consumers, States, businesses and vulnerable populations introduced by maxine waters of financial services committee, introduced these concepts today as a way to deliver the economic stimulus payments to US citizens. For those of you who do not know who may be in the u.s. who may be unaware or may not even be in the united states altogether, many other countries right now are trying to figure out a way to stimulate the economies as the economies are not Doing very well because of the current situation that we have in the world, the idea is especially within the united states is that they will push in inject.
Whatever word, you want to use 1.5 trillion dollars into current markets, buying up securities stocks, bonds, mutual funds, whatever they need to prop up the economy in a coordinated fashion, to make it seem as though nothing negative is happening in the financial economic world. About a good four or five days ago, it's about three days ago, wasn't that long ago, steve minuchin and i believe it was also donald trump as well, came forward and said that they wanted to give money to all americans in an effort to get them money. Not only be able to pay their rent pay their bills, but also to be able to help push back up the economy. This has happened many times before in the past. This is nothing new it's, not something necessarily good when it comes to printing tons of money, but it's a help on the other side of it. You had other people from the opposition who had stated that 1000 was not enough and I've seen. People in the comment section also mentioning that 1000 was not enough because they have kids, they have. Families 1000 is not even what their rent is, especially if this is planning on the current situation. People assume will continue to go on for the next three to four months in its current state. These are estimates, no one knows for sure. jednak, this is what is currently being thrown around so 1000 on a rent, that's, maybe 1500 dollars per month, not including food electricity, gas.
Whatever is not enough, so the other side had proposed. I believe it was a a 4000 package, her adult within the United States, and I think they also it was something around like a 14000 Papapa was the word. A fourteen thousand dollar check package, two families of four this was proposed three days ago. The issue is: is net know that, like I said, the meetings gon na get a bit crazy um. A large part of this is speculation, even though we have the news in front of us I'm speculating on exactly why so many things have been happening within the cryptocurrency space. Czemu? I was like. Why did that when, when, when? Why why? What was the reason for that? If that was proposed three days ago and now we're already seeing people on the opposite side, the people who wanted to give more money to Americans, announcing the creation of a digital dollar and the digital dollar, for all intents and purposes, is supposed to actually be released. In an effort to actually give people within the United States, this stimulus package ie, actually I'll, read a bit more just to give you the the entire framework of it. The bill establishes a digital dollar which it defines as a balance expressed as a dollar value, consisting of digital ledger entries that are recorded as liabilities in the accounts of any Federal Reserve Bank or an electronic unit of value redeemable by an eligible financial institution, as determined By the Board of Governors at the Federal Reserve System, additionally, a digital dollar wallet is identified as a digital wallet or account maintained by the Federal Reserve Bank on behalf of any person that represents holdings in an electronic device or its service.
That is used to store digital dollars that may be tied to a digital or physical identities. A mandate also requires all member banks establish a pass through digital dollar wallet to all customers eligible for the stimulus. So the part of the issue is is that the stimulus package is supposed to go out relatively soon, if not within the next couple of weeks, I don't assume they're gon na be sending out any stimuli packages within the next eight or nine weeks. That seems to be a bit too long. People need the money right now, especially if you've been watching the news. There are many people who are actually in dire straits, because when you can't go to work for about a good four or five six weeks, things turn ugly, the okay, so hope so stay with me. This is being offered as a solution to getting the money out to people. The issue is: is that infrastructure like this in order for the creation of a digital anything takes a very long time I'm, going to assume that within the last three days, the United States? Probably did not start working diligently on a new payment system with the Federal Reserve to offer the issuance of a digital dollar, which means that to me this was probably already in the works for a very long time. It takes a lot to be able to stand on stage, to offer advice, to give anything or to introduce a bill that would establish not only the digitization of the US dollar, but also a way within the next two weeks to get that out to every single American, who is eligible for the anywhere from one to four thousand dollar package, and you see what I'm saying for a while.
We had a lot of opposition against anything that resembled a central bank, digital currency or the digitization of the dollar. In many different ways. It was always there we don't need it. We don't want this it's not necessary. Get this out of our faces. We'Re, currently, fine as it currently is. You cannot. Do you get what I'm saying the idea of introducing a digital US dollar within the next two weeks to every single American means that this was in the works for a very long time, and it just seems to me my 10 file had is on that. This was an opportune moment for them to kind of, say: ok, let's go forward and let's kind of go through with this I'm, not sure. If you've seen the news, there are many countries around the world and in a coordinated effort to get things under control. They'Ve been burning their their paper, money supplies and many of them have announced that they are potentially getting ready to offer a digitized version of their currency. That'S really weird, because what's been going on, has only been really really an issue for about a good three to four weeks, which would tell me once again, as we know that many governments are relatively slow, that they probably have been working on this, for at least A couple of years, because it seems unlikely that a government or anyone anyone I don't care how good of a coder you are, would be able to create an infrastructure for the entire country in a matter of three to four weeks as a preventive measure for having To burn cash in the future, it seems like a lot of the news that we've been getting.
That was very confusing to me and as to why we were getting, and it seems to kind of put everything completely into shape right now that you cannot, as a she's the Speaker of the House isn't. She you can't, introduce the idea of a digital US dollar to send out a stimulus package that was just introduced or spoken about three days ago without having had this in the works already. I assume my assumption. This is me assuming cuz. I am NOT here. I'M, not in these rooms, as these decisions are being made. This was probably created a couple of years ago. We had news for a while that every single time that someone came forward with something that could potentially oppose the US dollar that there was a problem, you can't do that. Why are you doing that? You know no, this isn't a thing: it's illegal, you're being sued! You'Re being whatever um yeah, I saw this this morning. My friend sent me the the article and I went around to make sure that this was actually a real thing. You can find the articles everywhere type in like US, government, digital dollar and I'm. Pretty sure you'll find it relatively quickly. I think it also says it something right here: the Federal Reserve Bank themselves would also make available a digital dollar wallet to any US person eligible for the payments as well. Additionally, the US Postal Service would aim to help unbanked individuals and order those without proper ID to establish their identity to be provided.
A digital dollar account. No, I grew up in the States and I know how slow things are, especially with the US Postal Service or them too. This is all coordinated this. This was all I don't want. No it's not planned. The digital dollar was already created, probably a very long time ago, if not years ago. Remember the thing that I kept on mentioning before I said it was really weird. Now we kept on getting all this news about institutions in the space and all the people who kept on saying that they are there hated Bitcoin, hated, crypto currencies, hated, the digital so and so blockchain before crypto blockchain before Bitcoin about a year or two later, all Were knee deep in in the cryptocurrency space and even the people from once again, I I keep reiterating it because I don't think people understand just how actually massive it is that the people from the New York Stock Exchange and the Nasdaq had announced that they were Actually into crypto, since around 2014 2015 had been buying up Bitcoin. Since then, why would these major institutions have been in the cryptocurrency space when it was small, when there wasn't a a big incentive for them to kind of get into it, for the Federal Reserve to coordinate with the US Postal Service to help unbanked people or those Without proper ID to establish their identity and also give them a digital dollar account within the next two weeks seems highly unlikely.
If you live in the states, you know exactly what I'm talking about nothing in the United States gets done within a two week period. Nothing not one gosh darn thing, it seems to me now what will obviously see how this, how this unfolds, how this continues going over the next couple of weeks, but a stimulus package that was meant to be sent out as a check is now being proposed to Be sent out through a digital US dollar that was created three days ago, because this is when the idea came about six seven weeks ago, there were no propositions anywhere for a heavy stimulus package to curb what we didn't know was going to happen yeah. What I'm saying um just into this insane this the same, this exact topic as well remember in 2019, when the people from Facebook in June announced that they were going to launch Libra or cuddly bruh, the wallet and digital so and so cryptocurrency that they were going To release immediately after oh my gosh, just handed in as well, a couple of people came forward. First of all, Facebook announced that they were going to release a digital currency. Damn crypto market went insane about a good day or two later, and I just I just pieced it together, where's her name. Maxine waters was one of the first people to come forward and say no. This can't happen. No, we um she. She wanted a moratorium on it.
They wanted to end the entire project. This is not me, routing and or saying that we should have a a libra crypto coin, but the point is: is that it was. It was really weird that almost immediately like it was just this simple thing that Facebook was going to create a crypto came under such heavy opposition and I'm pretty. I think it was actually Pelosi as well, but I remember: Maxine Waters was constantly the person to try and shut this entire thing down, and there was actually there were multiple hearings in front of Congress and the Senate from people from Facebook and Libra. And the main question that kept on popping up to remember what it was we spoke about it after happened. The main thing that kept on popping up was: what threat does this cause to the US dollar? Will this stop the US dollar from being the major world currency? What dangers could this potentially in the future pose to the US dollar, and I was like I get that they're afraid, but it kind of you know whatever, and then we win we wind up getting indications that facebook we're trying to become their own bank. It kind of made sense, but now it makes a bit more sense, because once again, this is from 2019. They were probably already having discussions, if not already have created this central bank digital currency, in the idea that Facebook coming out with their own digital currency, the the fear came from that Facebook already had roughly around 1.
5 billion users around the world. The Facebook introduced this new currency, it would be. Facebook would not only be the largest bank in the world, but they'd be the largest currency holder they'd. They they'd have the most customers using their currency from the get go, there'd be no real stopping them, because everyone would have access to Libra and to kulli, bruh, and also the other problem that also arose was that Facebook also mentioned that in their calibra wallet. You would be you'd be able to have multiple other digital currencies, and this led to the assumption that eventually Bitcoin would also be added to the Calibra wallet and therefore through facebook. Instagram and what's happened any other platform that Facebook may own secretly. In the background, you'd be able to actually use Bitcoin without the actual view of the US government. It was a very big thing, and now it's also making sense once again say with me, because a year ago they probably had already created this and the idea that anyone would come forward, because the Facebook coming forward with calibra was also a shock to the US Government and to many other people, people within Facebook said that they also had no idea because it was a secret project. So if you come out with a secret project with something that could potentially usurp the US dollar or the new digital US dollar that was being created, you have to stop it in his tracks and then also announce the it's crazy.
This this was announced three days ago, this stimulus package and now they're talking about the creation of a digital dollar to send out the stimulus package. You cannot create a central bank digital currency. In three days, China has been working on theirs for about a good year or two, and we still don't have it. The other important part is for those of you not looking at the screen. It says Facebook is shifting its Libra cryptocurrency plans after intense regulatory pressure. I think I haven't highlighted right here yup just a couple of days ago. It said instead, Facebook's Libra project will reportedly transition to supporting both existing government backed currencies like the US dollar and the euro, and the Libra token, when it is eventually completed and ready to launch. The idea was, is that Facebook would only launch one coin. It would be in the Libra it would launch sometime in July or June of this year. Us government said no – and I remember I think, two or three or four months after this happened. Libra came forward in Facebook came forward and said that they would not mind launching stable coins pegged to the US dollar and the euro, and everyone was like. Why would you want to do that? It makes a lot of sense because if you create your own currency, that is not the US dollar and the Euro. You stop people from using the US dollar and the Euro, and even the Libra has also been pushed back.
So I think around yepp is now coming out in October, and I assume the project will get a jump start sometime in summer. But the first things that will be launched will probably be say with me: digital versions of the US dollar and the euro. And if we get any indication that the digital version or the whatever it's, whatever the four letters, are that make up this digital US dollar are the exact same thing as the one that's being proposed. It will then be confirmed that this was all coordinated in some sort of way. The the timing of it is is just too ridiculous, not too long ago, Facebook announcing that they were going to create their own currency, that they didn't mind, creating stable coins and now they're definitely going to have digital currencies that are basically going to be digital euros And digital dollars and then Libre will at some point flow through there. I assume this will probably also stem any type of conversation of in the near future of a Bitcoin being added to Facebook, or it actually could, but under the entire same thing, that we've seen before from coinbase and many other cryptocurrency exchanges that the government needs. Your information to know if you're using these currencies, which is also gon na, be a very big problem in the future. Never ever ever ever ever forget this anything within the cryptocurrency digital space that has happened or allows the transactions of money and stuff like that to go back and forth has required people to give their ID in order to use these platforms.
Do not think that by October, if Facebook is going to have a digital dollar in a digital euro and a Libra on their platform between Facebook, Instagram whatsapp and any other for that that they may have or may be working on that, you will not be required To either give your government ID your passport or any type of other banking details andor your address, these are probably going to happen. How many other times have we seen? I even have the tabs up there. How many of the times have we've seen when other digital cryptocurrency projects have happened, that you were required to give some type of personal information to be able to use said things? Can you honestly imagine a future where Facebook has US dollars and euros digital euros like you, you're able to send value back and forth between you and other people around the world and also Libre a situation where you will not be told to provide your informations and Where you live is the same exact thing for any other is it's the same thing with a crypto currency exchange. Crypto currency exchange is probably have around two three four five: seven, ten million people using their platforms. Imagine 1.5 billion people being able to send money freely around the world seems very unlikely right. So get ready for that as well and I'm interested to see how many people will be willing to give Facebook copies of their passport andor IDs, to be able to continue using the platform.
I will tell you right now. I post my videos on Facebook. That account will be closed immediately immediately rapidly quickly immediately, I would find other ways to communicate with people I know, or we would simply just video chat in some other way. This goes down as well, and I mentioned last year as well. That kick was having problems with the SEC, the SEC, for those of you who don't know is the Securities and Exchange Commission. They overlook anything within the United States that are deemed securities. Securities are looked at as many anything that you buy with an expectation of profit. So, typically, it has to do with stocks bonds, mutual funds it can also be limited, but also on the same adjacent line with real estate. Sometimes real estate is also considered a security. It depends on the exact xual classification of it, the point being many different crypto currencies were expected to be launched within 2018 i 2019 and they were slammed down into the ground by the SEC, and I kept on saying it's very weird, the timing of it as Well, because many of them, the SEC, came forward with lawsuits about a good anywhere from a day to a week before they were going to launch. This also happened with many other platforms who were going to launch a Bitcoin ETF, so I'm. Sure you remember that as well or ETF, adjacent or even futures markets, that would be settled in cash and the SEC said no, the day of even after they had been given clarification, and I kept on saying it's really weird that the SEC is going.
After all. These major platforms, but they're, oh don't, be don't, be fooled. They were also getting these smaller platforms as well. It also reinforces my idea that the digital dollar was already known. It was already being created because you can't have something adjacent to the US dollar. So if you have a digital dollar and all transactions around the world are being tracked, follow they know exactly where all this money is going, which is going to be a very big thing in the in the year. So please get ready for that as well. All your transactions are going to be tracked even more than they currently are right. Now that you would be able to download kik get some kin, ki n, which is their digital currency and use it freely. The SEC and the end, and can kick, are currently in a legal battle right now. They say that they are trying to curb it stem it. Do away with it relatively quickly assume that you are probably going to have to give once again ID to be able to use its cryptocurrency because that's just how the current financial system works and, let us not forget again forget, says SEC halt alleged 1.7 billion dollar Unregistered digital token, offering this was with telegram, they attacked every single platform that you were able to easily download and could have potentially used their digital token with ease at any point same exact way that they attacks Facebook rapidly super quick and told them.
No and now they're all undergoing multi million dollar lawsuits, or something that they could have been told no four years ago. The idea is yes. Ec knew these things were happening instead of just telling them in the very beginning, you're breaking the law do something correctly. They made sure that the day before these things were going to be launched that's when they decided to sue them. Even crazier is the news that we had last year as well that because China was going to be creating their own central bank, digital currency, which would be coming out very soon. One of the major pieces of news that we kept on getting was: will China's central bank digital currency, usurp the US dollar. It was widely believed that if this currency was able to be tracked through digital means, of course, but still had free movement over borders, the same exact way. You can send a text from your friend in Canada to your friend in Chicago or from Chicago to the UK. You know borders whatever the case might be. If you're able to send payments that easily through China, Central Bank digital currency would all but stop the usage of the US dollar, because the US dollar wasn't digitized, it all lines up a bit too easily, and I think the other really weird part is that the Same exact day that this news came out about the the potential launch creation stimulus package, whatever of the digital US dollar, people from by Nance said that the US government should be using stable coins.
I don't know which came out first. I don't know if this news came out before the US government announced it, but at this point I would not be surprised. First of all, I assume coin base and the Gemini twins are probably working with the US government and I'm certain that they're, probably working with the US government in some sort of way. They probably told to keep completely hush hush, of course, about all of this. But don't be surprised within the next six or seven months. If we get news that a couple of mmm stable coins are being delisted on it on a number of platforms and that they're going to be adding USC the u.s. coin, two of their platforms instead, because it seems like this is where everything is going – and this May also be why, if you've been paying attention and still have your tinfoil hat on, why are the people from tether have been moving their blockchain and not moving their blockchain would putting their blockchain on top of other block chains? I assumed from the very beginning that it was done to provide more security. Should one of them be pulled out. You know they know, pull out the plug. I think it's around seven different block chains. That tether is now on top of, and I assume this has to do with. They probably saw the writing on the wall, that other coins were other going to be smashed down or made obsolete and at the same exact time they probably wanted to save their skin.
So, like I mentioned part of the video would be an assumption. The other part is a truth sumption, because we know that this is um and has been announced spoken about. This is going to happen. I assume relatively quickly under the premise that this will be done for the good of people. I see this happening within the next three to six months. I once again assumed that this has already been created, there's no way, there's no actual way. That three days ago, someone got to work in a room with 15 other people to create a digital dollar there's, also no way that three days ago, nonetheless, two weeks or even a year that the Federal Reserve coordinated with the US Postal Service to create digital banking Accounts, it's not possible it's, just not actually possible, and I don't even mean that as far as a the u.s. is slow kind of thing, it's just not humanly possible. So we are on the cusp of a rapid digitization of everything it's here it's happening. We can't get away from it. Um, however, just know, and I guess these silver lining always is. We have not heard any war cries of banning cryptocurrencies nor war cries of banning Bitcoin from major world governments. Bitcoin is currently being integrated into many different world financial systems stock markets. Whatever you kind of wan na you know the whole I'm, not even gon. Na reiterate everything that's been happening over the last couple of years.
This is why I believe that bitcoin is going to do very well in the future, because the major that the people who make economic policies all have Bitcoin they are behind Bitcoin, and many of them have once again said that bitcoin is going to be a world Currency in the future, it already is, but um one can only assume that a a billionaire who probably has bought up a large amount of Bitcoin saying that and who's the head of the New York Stock Exchange. On this end, the Nasdaq are probably fairly confident as to where this all gon na go. A lot of this stuff is very weird and I'm sure you feel the exact same way. It'S, not it doesn't feel like a a real surprise. It just all feels like this was the route that we were all going down in the first place, yeah that's the news that came out no more than is it six seven eight nine hours ago, look forward to more news from this. I assume this proposal, you you, you, you can't, propose you can't, go on a podium and propose something like this, without having it ready or without being confident that it is going to happen, you would look like a fool. Imagine imagine going onstage announcing that you want to give every American five bananas. Instead, you would look insane you. This is. This is something that was already created and this has been in the works for a while, of course, a large part of these are my assumptions or my feelings.
But if you look at the writing on the wall and the the shift from Facebook being very um strong willed to bending the knee very quickly and going okay, it's fine, we don't mind with we don't mind using those it's all a bit weird um. I do hope that you all enjoyed this very odd news. I do hope that, despite everything you are trying to have a good day a good morning, a good afternoon or good evening, wherever you are wherever you might be, um yeah. I do hope that is absolutely fantastic. Thank you all once again for watching and or listening it's gon na get weird, very, very quick. Thank you all.