“It’s a sad state of affairs, but that’s how it is, but you can trade that to your advantage. Pal highlights that once central banks turn the taps back on, that’s when assets like Bitcoin and crypto can rally. The whole system is now setup for one cry which is more cowbell, turn the taps back on.” When people say they’ll keep hiking until it breaks, well when it breaks more cowbell.
The UK showed it: more cowbell, print more money get us out of this problem. That eventually is going to create the answer, and the answer to everything is always more cowbell. I think it’s going to cause tremendous problems. “It is now a function of illiquidity because nobody is involved in the market, and there’s only sellers. That’s a relationship that’s gone back 50-60 years.”Īccording to Pal, the bond market is broken as sellers are currently overwhelming buyers, but the macro expert says that the setup could motivate the Federal Reserve to finally loosen its monetary policies. Bond yields have massively decoupled from the ISM (Institute for Supply Management) survey. It would rip higher because bond yields start to fall as they start finally recoupling for the business cycle. So I think the path of pain is to go lower, suck more into short and then rip higher. They’re more negative than I’ve ever seen ever in any history… They’re super negative. All I do know is people are record negative sentiment. In November, the court granted YouTube's motion to dismiss that version of Ripple's complaint, as the platform argued that Ripple's claims are barred under Section 230 of the Communications Decency Act, and that, given that YouTube is not a publisher of the third-party content, they are also not liable for it, and can't be sued over it.“The pain trade I think is to sucker everybody in thinking there’s a great glory collapse to come, the ‘I told you so’ moment, and earnings are going to get revised lower. It further demanded that the platform be more aggressive and proactive in identifying scams, remove them once identified, and that they must not profit from the scams. The company alleged that YouTube was not implementing "sufficient processes" for fighting scams, which resulted in hundreds of thousands of dollars in XRP being taken from the victims. Many are now wondering whats next for the crypto markets. Per the Ripple CEO, social platforms are beginning to acknowledge their role in allowing the continuance of crypto scams, and they "recognize the need to be part of the solution."Īs reported, Ripple and its CEO sued the video-sharing giant in April last year over scams impersonating both the company and Garlinghouse. Bitcoins popularity continues to rise, with the cryptocurrency crossing 24,000 over the weekend. Garlinghouse went on to say that specific settlement terms are confidential, but that it’s clear that "without accountability and action, trust erodes in this industry, at a crucial time when around the world are looking closely at crypto." In a Twitter thread, the company CEO Brad Garlinghouse has announced that Ripple and YouTube have "now come to a resolution to work together to prevent, detect and take down these scams."
Ripple, an American blockchain company focusing on payments technologies, and major video platform YouTube have reached an agreement to end the court battle.
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