The World is Turning To Gold Amidst Armageddon in Crypto

We could be seeing a loss of confidence in the crypto space, as everything in crypto… Chris Irons on Palisades Gold Radio Chris discusses the collapse of the crypto exchange FTX, and it’s CEO, Bankman-Fried. This guy seems like a run-of-the-mill con artist. There were a bunch of young kids playing and losing billions of dollars. Everything points to outright fraud, including past direct statements of the CEO himself. The concern now is how many other operations are about to blow up. We could be seeing a loss of confidence in the crypto space, as everything in crypto exists in a gray area. It’s basically brand new and currently there isn’t significant demand for it. Crypto has been a blow-off valve for all the liquidity in the global markets. This blow up portends further problems in the space and some of the contagion will spill over to other markets. He questions how they can let Tether move forward from here given this collapse. They will be under far more scrutiny, and Tether could be an even bigger problem than what we have seen with FTX. Chris believes that even if the Fed were to cut rates tomorrow, there would still be a market blow up. The speed at which they have raised rates is breakneck and stunning. There is a lag in the economic plumbing between the rate changes and the impact being felt. The Fed should have raised rates some time ago, but instead they appear to act cowardly. Real rates have to reach positive territory for the Fed to truly declare victory. Good luck with that. FULL SHOW NOTES AND LINKS HERE [embedded content]