Clif High joins Bix Weir to talk about how the FTX debacle will be the catalyst for the collapse of the Federal Reserve Banknote (FRB) aka the US dollar.
Clif says that “history rhymes” and that an upcoming event will be an echo of the 1932-1933 Bond Crash, which created the Great Depression that continued for the rest of the 1930s.
He says that today, bonds are not as important as they were in the 1930s, relative to the stock market. These days, the crypto world holds the sway over the stock market formerly held by bonds.
He says, “We have something hitting us, December, let’s say 13th to 15th…I ran the data just the other day – and the censorship really screws everything over – but I do get building and release emotional tension values that I can sort of trust, as we see, because of the 13th. But on December 13th, it’s actually gonna take two days to unwind, so it’ll be like the emotions we…had at the beginning of yesterday morning (November 14th), when everything started pouring out (about FTX) and everybody started making videos and all of that – in December, that’s going to on solid for two days. It’s gonna be that whipped-up.
“I *think* it’s gonna be political. I think maybe, it might be the political ramifications of where we’re at now, that appear in 30 days but if were to chart this…and create a graph of it, I get something like this,” he draws a precipitous peak which plateaus and stays high for 6 or 7 months.
“The looming aspect of it for me is what’s out there in January. Somewhere out here, past December…in January – and I don’t have any dates to go off of, yet – I don’t know if it’s early in the month or later or whatever, we get a MUCH bigger rise. It’s a building emotional tension. This is all done on linguistics. Building emotional tension is usually accompanied by near equal amounts of release language. They need not be compensatory.”
In other words, the sh*t will hit the fan sometime in January.
The two then get into some hardcore discussions about cryptocurrencies and their regulation and how they see now, how the whole FTX fraud has been affecting the integrity of the market since they came on the scene.
The second half of this conversation is great for people wanting to get a 40,000-foot view of the cryptocurrency landscape.
