QE is good for Bitcoin / Binance US opens next week / France to block Libra / BTC on Premier League Jerseys
The Breakdown
Blockworks
4.8 • 806 Ratings
🗓️ 12 September 2019
⏱️ 17 minutes
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Summary
Transcript
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| 0:00.0 | Welcome back to another crypto daily 3 at 3. |
| 0:04.0 | All right, guys, what is going on? Welcome back. |
| 0:08.0 | So today we are going to talk about first. |
| 0:11.0 | A little update from yesterday, Trump's tweets about the Fed, |
| 0:15.0 | getting their kind of next expression today as the European Central Bank announces new quantitative easing. |
| 0:21.1 | Second, we're going to talk about Binance, U.S., opening up next week. |
| 0:25.1 | Third, we're going to talk about France, blocking Libra, but also saying that crypto-to-cry |
| 0:30.1 | transactions where trades will not be taxed. |
| 0:33.8 | And four, we're actually going to do a little bonus section on two little mass adoption stories. |
| 0:38.4 | So let's actually dive in first to just this follow up to yesterday. |
| 0:42.6 | So yesterday we talked about how Trump was putting pressure on the Fed to lower interest rates even further, |
| 0:50.4 | talking about even pushing them into the negative territory. |
| 0:53.5 | And then today, we had |
| 0:55.3 | an announcement from the European Central Bank that's going to cut its rates further. So Pomp |
| 1:01.5 | says the ECB just announced they are cutting interest rates and introducing a large stimulus package, |
| 1:06.8 | i.e. quantitative easing. There is obviously a bitcoiner inside the organization. You had |
| 1:12.9 | TUR who said QE infinity, basically, with a Bloomberg post here that says ECB cuts key rates |
| 1:20.5 | and restarts bond-buying stimulus program to help slowing economy. Trump himself reacted, |
| 1:26.4 | as is his want. He says, European Central Bank acting quickly. |
| 1:30.8 | Cut rates at 10 basis points. They are trying and succeeding in depreciating the euro against |
| 1:35.3 | the very strong dollar, hurting U.S. exports. And the Fed sits and sits and sits. They get paid to |
| 1:40.1 | borrow money while we are paying interest. So basically, this is, you know, again, part and parcel |
... |
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