now obviously i think everybody's in agreeance that the cracks are just starting to get deeper. it is going to get worse before it even gets better as far as these bank collapse. but it is all done by design because we have the sharing in a fed. now coming, which is supposed to be taking place in june or july and i believe july is a specific date the, the pushing for, but it wouldn't surprise me if it comes out sooner. and fed now is an instant payment service. 247365 is some sort of alternative to block chain technology that's completely centralized control by the federal reserve could estimate these failure been prevented. did anyone foresee this happening? absolutely. the interesting thing with the signature bank in particular is you had a barney frank, who from the dodd frank act as one of the advisors on the board of directors for signature bank. he has come out saying that there was absolutely no reason for signature bank to be shuddered. but if you actually do a little bit of digging and researching, we'll see that signature was under an investigation for money laundering by the

department of justice as well as the as the c. so there's been some things that were taking place on the back in prior to the actual federal reserve and treasury stepping in to shutter the bank. but again, the commonality that you had between silver gate, initially, which took place several weeks, maybe a month or so before as the be the silicon valley bank situation. then followed up by signature. those 3 banks. the one thing that they all have in common is they were all crypto friendly and they were the most friendly bank. so it was a, it was obviously a very direct attack on crypto currency. and we are seeing that coming from the united states government, especially under the, by the new ministration from the cc, all the way to the photo was, or to your head of your chair. had mis mister janet, you know, and they are all right now, conspiring to try to make crypto and accessible to the general public. so they can usher and their big brothers surveillance coin at their calling central bank

digital currency. or are these banks truly too big to fail because they're not as big as jp morgan chase or city bank. so why were they not allowed to fail? and what, what the ramifications have been with the saying is too big to fail. bangs, but it's not too big to fail, is too big to allow to fail. so what the federal reserve and the treasury is come out already saying, as far as their back stops, is, is when they're having bank failures. if these particular banks don't cause contagion to the rest of the system, they're going to allow for the failure to take place. so in, in videos that i have covered on my general rice tv x, i've come up to the equation. this is all problem reaction solution consolidation. you want to get it consolidated down to the few the few there in the club, the central bank, digital currency. the financial institution has a traditional financial institutions like your jp morgan, your bank of america. again, some people think that these institutions are too big to fail. they're just too big

to allow to fail. that is a difference between something like a silicon valley bank versus a jp morgan also. i mean, we, and i'm sure will bring us up. those bank collapse is also had a lot to do with taking away entry and exit points for people regarding crypto currency. thank you so much, chris, but please stick around. a chris rice will be joining us right after the break and when we come back is big line a more secure alternative to traditional banking system. and the answer, well have that for you after the break. the around, i'd love utah, it'll see skit they should. they will see skin out of the cool with the that you

sent those last i was i move you on is zacko. go on that. sure. and you know, he's uh, throughout the united shortfall state taxation. you folks have tried. i'm not sure that i, she's the instructional and have about john long would love to go. just talk a little. you should see those sheets of the go. there's a little c a years ago. now the sales custom, kosa crowns. here was the months me, i'm a photo skid, she was a but all, you know and about the show on circuit most to go to court or statements, but go out most i usually it comes to shock given that you to go to your open when you get to mind for sure. most of quite catch the 3. yes. cool. can yeah. and the console you provided to us. i was willing of the a sober to the door. you know, great union dirty a showing if i did she ship a duck lean, i'd ship for a control room for 2 of our solutions to get them awarded by the system really

being you have enough the lots and lots of lots and stuff. i'm assuming. yeah, we did the boom cloud. so essentially it's strange dark news, but i'll let you drive both on the on their own crazy if that's where you store lot of the my software, but just story. you still know. sadly, if she ever always gives us whatever ship, that's just a good fit to a lift or slip that came over to them. i need to use that says that you train school. so that's for and use a when they finished over the course of where and you should not to buy useful. but i'm saying, yes, i see the best way to, to recreate you take a picture of the double play, the price of the

never be a victory for russia. wait for solution. see when you're still not done by can locate me of this as a war between russia and the united states made it comes to the she said, the name of the forces are in, you're not in your engage in conflict with russian forces. american forces are here to defend nato allies. nato escalates even more in the special military operation, becoming more bills of sounds like the social is much to see if i see you at the west leave. so easily issue and you can use more spend some let's hearing, let's just don't finish the ring and see where there's there. i see

the welcome back to the cost of everything big coins. price has stored since news broke of the banks failures bleaching. $30000.00, which is up to 70 percent for the year. and this is no surprise for those in the space as given bit points, history and birth in 2009 as an alternative to the traditional big banking. the traditional banking model still suffers from the inherent weaknesses of the trust based model. and now we have an environment where higher interest rates, after a period of a high for low interest rates are creating bank runs. and this is the most perfect and big klein use case scenario, where we see bitcoin being a more secure alternative to traditional banking system, which are vulnerable to the problems faced by a c. b, according to

a report from economist using s b b as a proxy. more than a $186.00 banks are prone to collapse. per the report, s b b had a higher capitalization of more than 10 percent of existing banks. and that 10 percent of us banks have more unrecognized losses than s v b. so it's not a stretch to imagine that we have not seen the other shoe drop yet, and the banking crisis may intensify over the coming months. inside of this dismal backdrop and the sell off in global equities, the crypto market has risen against all odds. big kline has retained its status um on many as being asset more removed from the banking system. then traditional stocks and government bonds. when the banking system breaks down, the flight to safety is in decline. bitcoin is insulated from the type of bank runs that many feared would happen if the federal government hadn't rushed in to assure

all clients of s p b that they would get their money back. the people are now recognizing the importance a sound money with no counter party risk. and many believe that this rally is not because of fear triggered by the crisis itself. but rather the aggressive response from the government and the federal reserve that has seen hundreds of billions of dollars added to or pledge to the banking system and dramatically shifting the outlook for interest rates. on top of that, the collapse of s v, v and silver gate was like a cyprus moment for crypto. as these crypto friendly banks collapsed, a lot of money flows directly into the crypto currency ecosystem. and the crypto market also tends to perform better when the traditional financial markets experience turbulence, reflecting the transparency and be centralized, ation of the defy world. and for more, let's bring in again chris rice, host of rice tv x. now we saw us b, c, d, peg for

a couple of days dropping all the way down to $0.87. so what those tell us about the stable coins? and is it really all that stable? and yes it is. and i'm not actually a huge fan, stable going, stable, going to the cdc. there's not much of a difference. there's, they're both programmable currencies. the only difference would be there may be some sort of legislation or some sort of process. the government may have to go through from the, in order to get the records of the information from the stable coin companies. but both us d. c, i need us to have worked with the united states government, the department of justice. they, they have all cooperate and they've off frozen accounts of people because the, the stable coins are designed to be programmable and they can incense do the same thing they would do with the central bank digital currency. now in the case of u. s. d. c, what happened was, there was a portion of their money that was backing up the collateral, that, that,

that makes up. what us do you see is backed by, it's fully regulated circle investment, the company behind it. jp morgan, as a company buys, are going fast. they're very much compliant. it's very much back, one for one. but a portion of their deposits were in as b b bank. and once people had realized that they were questioning how much exposure they had to s b b bank and it was only like something like 3 and a half percent of the total backing of us the see. so i think the, the markets over reacted to that situation a little bit more so than they needed to. and in the case of us, the t, it's also fully backed by if not dollars. it's also backed by treasury bonds and both both companies to other and us d. c circle are very transparent about what backs up their, their, their tokens. so at this point of view, as the t wasn't, wasn't being compliant on a regulatory standpoint, they would be obliterated and destroyed. but they are compliant. they are correct. a lot of their situations, our questionable back in the past. and again,

they are very much working with the government. i've made videos of talking about instances where the f b, i and the department of justice. i've worked both with us d, t and us dc. so it's just 2 birds of the same coin. and when he comes to cbd c's and stable clients, because we're really in all actually a lot of people think that the digital dollar will be us d. c. ever since the banks faltered crypto seemed to be getting a 2nd wind as sent them in turn bullish. and to me this is like a flight to safety just like in 2008 when people disrupts the banks and would rather bank themselves. so what do you make of this, and how is that going to go when they're getting rid of all the bit coined onboarding rooms? a big part of it also that you didn't include the equation is black rocking and fell in it. and i'm drawing a blank on the company's name. i'm not sure it's a, it's a big financial institution. it's just recently started offering crypto currency

services. um, it'll come to me in just a moment, but we have a big we have, there's people within the financial system that also recognize bitcoin, what big wind has to offer. so i think it's a combination of things that people are looking at different ways of preserving their wealth or assets, because the way that the, the system is designed, people are losing purchasing power. so in order not for lose purchasing power, people diversify and you figure out different ways they can hedge against a dollar. and bit coined is definitely one of those things. i mean that's what it was created for was to be a hedge against a dollar. so is what decline was specific in the use big coin specifically what bitcoin was created for is the time period that we're currently in right now. so now we get to see how big corner is going to perform in the environment that it was designed to perform it. does that make sense? the u. s. has now cracking down on crypto, citing it as

a reason for the instability we see in the financial sector. so what do you think is their end goal and do they just want to see all crypto leave us shores? or do you think it's more about controlling them, trying to regulate and do some sort of cvd see like what they criticize china for doing? that's a really good question and i'm not really sure that they necessarily want crypto to just leave us shores, but they definitely want to have control at the same time. so if that means getting rid of the obstacle, which may mean trying to get, trying to eliminate something like that corner and click their currencies, that is a possibility me, we definitely see it on the plate. and united states, specifically, when it comes to legislation, i'm not even talking on a federal level just talking on the state level. you have something called the uniform commercial code, the u. c. c. law. and it's a, it's, it was try to make the laws the same and all the states and united states to help create trade and commerce to be easier because that way there's no restrictions based off differences of laws and legislation. and one of the things that you're

trying to pass through as an amendment right now on state levels and like a 120 something page document and only a portion of that document. it covers the aspect that i'm warning people about which also a governor just sanchez has recently worn people. he'd been an anti cdc bill in florida and we also had south dakota governor no, i'm also a veto the same bill. and what the u. c. c. amendment is trying to do is read the fine money to exclude bitcoin and crypto currency, but to include central bank digital currencies. and this would affect commerce the any the u. c. c. makes things uniform. so in a sense, once these things are passed or state levels, you wouldn't be able to use these crypto currencies, bitcoin, for example, and the other crypto currencies as of, of sort of money. because the uniform commercial code is taking it out of a definition of so. so the trying to attack crypto on a state level on a federal level under trying to sneak the state,

the state stuff and like they normally do with legislation. and people are waking up to it. and now you have governors. when i said, when i called a central bank digital currency, a big brothers surveillance point, i'm just quoting rhonda santas. but even if the government don't recognize bitcoin and cut the courtesy as money, doesn't really matter if the seller is still willing to accept that coin for payment. i mean that's what bothering and peer to peer payment is as long as a counter party is willing to accept it as compensation. then it really doesn't matter if the authority recognizes it as money or not, right? it would've been vick or, and you're right. it wouldn't, but it would make it difficult for people to use bitcoin in the commerce situation . like i wouldn't be able to buy my groceries from walmart or something like that because of the way the law would be defined. but as i could go into a direct peer to peer connection, they couldn't be in bic, went into, can't outright destroyed crypto, but they could make it difficult the on ramp offer and, and use. thank you so much, chris rice for joining us today. and if we look at the history of the coin and why

it was created in the 1st place, it was precisely for events like we see today, where the current system shows sign of weaknesses if it's the centralized system and peer to peer technology gives bit point the potential to dismantle the entire banking system, in which a central authority is responsible for decisions that affect the economies of entire countries. if people embrace this new technology, then the banks have much to lose. banks would lose control of monetary policies and therefore control of the population. bitcoin enables the citizens of a country to undermine government authority by circumventing capital controls imposed by it. it was invented to address that the valuation of field currency through reckless spending and borrowing and fee or currency is not backed by a tangible assets anymore. so by manipulating the supply of money in the us economy,

the central bank also manufacturers asset bubbles and crises. and only time will tell how long these regimes will last and who will be the last one standing. i'm christy. i thanks for watching and we'll see you right back here next time on the cost of everything. the case of china, it's the, the you would like to tie ones international status. you see, you know, see lucy's visit, which already credit crisis. if you have anthony clinton, i'm short china wilson thoughts a military operation. there was i have even have those. i don't have even down to about the

the name of the new landlord loves seeing the most schools do. if you look on the initial, do 1 o'clock, significantly post on zillow, while it be almost getting used to put value, what do you do origin, but you also services done the supreme only belief systems to good lou do what i see these the buses, the little gear limitation says this and uh, to the, to the most of the,

the, the, the, the headlines on off the international as ukrainian at naval drones, a repel doctor ro, attacking a russian warship in the block c a that comes as american intelligence and u a v activity has reportedly increased in that area. economist of the south africa could lose up to $32000000.00 in trade revenue for remaining neutral on the ukraine conflict and not condemning russia. romania apologizes on the recall, which is um, fast its a kenya off of a different my job that a trip of monkeys where africa is representative to the local meeting of u. n. n. voice in nairobi. the

top stories of the week of the main headlines for this. our welcome to the weekly here or not. most ago says ukraine has used naval drones in an attempt to sink a russian war ship and the black sea. according to the ministry of the attack, failed and the enemy vessels were destroyed. as we understand other russian ship right there is key to protecting the tuck stream gas pipeline and the area will details now without ease, it goes down. off the russian defense ministry has reveals that ukraine used at least 6 maritime drones to carry out an attack against a russian warship, some 300 kilometers away from the coast over the crime in peninsula. now, according to the russian ministry of defense, old 6 on mine, the vessels were destroyed by the russian voice, and it was left on the hummed again, this is not the 1st time that this sort of incident happens just around a month ago. a similar attack was carried out against another russian naval vessel

uh by re on man drones, which was also unsuccessful. and also was 3 ukrainian drones were destroyed both times a nato surveillance plane was spotted uh, in the direct vicinity you from the place where the attack took place. now, most importantly, such attacks the jeopardize, the so called grain deal because russia accuses ukraine of exploiting safe passages, safe maritime rooms that we agreed on within the frameworks of the great deal. and that were meant only for cargo ships that moved great and around the world. and so russia, of course, the kansas ukraine over floating these roads and carrying out these attacks, basically these, whoops, they allow ukraine to use these drones to, to carry out attacks against russian vessels. also, when the crime in bridge was blowing up last year for us,

you also said that if russia finds out, if most cool, if investigators find out that well, these routes, the safe passages of the great deal were used to smuggle explosives that were used in the bombing of the crimean bridge that the grand deal would be offered the table . so this is yet another incident that jeopardizes a vital part of the, of the will global order really. and that helps bring of food on the table. all the less fortunate ones in africa and other poor regions of the world. so. okay, so let's update you on something like it's from the contact lines as ukraine bit low inches long, promise counter offensive against russian defensive lines on the southern front has been going on for roughly a week. the russians, ministry of defense says the old attacks have been repelled. our reports are in saying that some of the most intensive fighting took place right around there and those that put all the region where incidentally, residents just lost you voted in an official referendum to become

a part of russian. have now got some furniture from the front lines as our kids did throw thousands of soldiers in german supplied left at times into this battle of the western referee. the doesn't seem to have lost a very long and see them essentially a destroyed or even being destroyed by mines. i'll tell her the fire and drones and several of us supplied all my vehicles are also among the wreckage. well, of course, your current has suffered very heavy losses since the offense was launched like this. according to the russian defense minister, we can show you some numbers right now. and as you can see, the numbers basically speak for themselves throughout the week. ukraine's being very quiet about his activities with presidents or landscape only recently confirming the counter offensive had begun. and some things that it may push and says as fe, it was an assertion that it can be stated with absolute certainty that this offensive has begun. this is evidenced by the use of strategic reserves by the ukranian army. furthermore,

the ukrainian troops did not achieve the objectives assigned to them in any of the combat areas. over these days, we have observed significant losses of the troops of the ukrainian regime. their losses had been substantially greater than the classic 3 to one ratio expected during offensive operations. as i'm sure you heard of this week, a huge flood devastated the heart of southern region after a key time on the river was breached. i must go, says key of deliberately released vast amounts of water upstream prior to sabotaging the barrier, simply to exacerbate the flattening a video, some of the of harry to show that intentional release of water after that for hydro electric station, you can see this loose gates are open and russia is a security council secretary says nate, so must accept part of the blame for that as often as it does give the green light for t of actions of a serious damage done to the time of the whole sky, a hydro electric prolong, happen on monday night surrounding areas downstream funded in many of areas

devastated the russian defense minister, according as a terrorist act by you crate and food encoded e co side. and in terms of human costs, the local officials say at least 8 civilians died in the flooding with thousands, badly injured or 7, some uh, 7000 people have been evacuated. now over the course of the week, water levels in the river have lowered significantly, especially north of the down. however, there are many areas that still remain swamp of the south africa risk that losing up to $32000000.00 in trade over its neutrality. in the ukraine conflict, that's according to an economist at a stein, live organization to the largest asset management company in south africa. she says are the west coast economic strings that it could pull together the e u on us to account for 30.4 percent of total exports coming from south africa

compared with russia, 0.23 percent. this means she jo, political pensions escalate and the west tax again, south africa. it could lose up to $612700000000.00 rent and export revenue. when the company issued a warning to the south african government about washing and economic ties with western partners of this commons, as pretoria has adopted a stance of non alignment with the western block on the ukraine conflict, it has abstained from you and votes conducting russia, refusing to also arrest of that event, food and under a controversial i. c. c. warren continues economic and military cooperation between the 2 countries. while we discussed the situation with a panel of experts and looked at reasons why. so in western partners, a ringing the alarm of a south africa's neutrality was gonna take all of this financial management organization making a statement that could affect a political issue is basically the best. so the we all taking on board the

one thing that was issued by said the mostly because of some of the wondering by the so that's a good reserved thing, that it for sees potential secondary impacts of the sanctions. lucas is based on so the because of its position on the rest of the country so that it is government describes it as a country between russia and nature. and even though it holds a non align position, it has been quite critical of the manner in which the conflict is played out. never the less is forced to consider the warning issued by spending over the $32000000000.00, which would be placed at risk and trait. that's because the morning portion of those a decision that needs to be taken at what is holding a goal or some of the african growth. an opportunity which is an in the united states which gives so that they can prep original access to the american markets.

not only for over a $100000000.00 rad or $100000000.00 of agricultural goods, but $5000.00 different items across different sectors. so, so that'll be confusing, straight relationship with the us very seriously. and it knows that it's at the moment it's getting close to be published in a way by the united states for its position of non alignment by now. i mean, why is the afternoon content is so important right now for the west. in particular, wisdom, i'm more interested in benefiting from the we can assist all 6. wow. if you will. wow. what has been happening? you, democrat and republican, depending in uganda is so many, whatever one place where we have lots of interest to go. do you mind one thing that you do, you'll see wisdom for personal ones, about extracting distance. next point in all watching, you know, the, to julie by just really 3 eyes. so the fact that did play to me and so for

go with a little 6 from the, from some video rods or not. clinton shows that they knew that some sort of continued to do things. what, what to do much more like, you know, the trying to move and that's why i mean, that's how i'm going to, i love the misfortune, which i believe in tone, that sort of cards when i didn't what, you know, if they continued to take this, died from the end of the breaks east, one big problem for a new west and the other gulf grow government under western countries because debris, cuz maybe in the future we'll see to be like one, a big economic block or to knowledge set to come regarding these issues stomach powered and this is not good for a some expiration western countries right now is in the better condition.