Now, the Core Subject of this hearing is not Bitcoin Or Dogecoin or any other cryptocurrency. Instead its the explosion of cryptocurrencies over the last decade that has created the context for understanding the potential value and risks of digital currency. There are substantial difficulties with our current Payment System. Nearly 33 million americans have been locked out of the traditional Banking System. Theyre forced to use check cashers and payday lenders for basic banking services, and those with traditional checking and savings accounts found that many of the largest banks have proven to be untrustworthy, gouging customers for overdraft or other fees or in the case of wells fargo, just outright cheating their customers with fake accounts and fake services for which the customerS Pay dearly. So what are the alternatives . Digital currencies have been hyped as a solution to these problems. Early advocates claim that cryptocurrencies would open up the Financial System and deliver f
The explosion of cryptocurrency over the last decade that has created the context for understanding the potential value and risks of Digital Currency. There are substantial difficulties with the current Payment System. 33 million have been marked out, they are forced to use check cashers. Even those with traditional savings accounts find that many of the largest banks are untrustworthy, gouging customers for overdraft, or in the case of wells fargo, outright cheating their customers with fake services for which the customerS Paid dearly. What are the alternatives . Digital currencies have been hyped as a solution. Advocates claim that cryptocurrencies would open up the Financial System, and deliver fast, cheap and secure payments to anyone with an internet connection. OtherS Pointed out that crypto was a way to avoid the risks of dealing with yanks that squeezed customers drive. CryptoS Promises have not come to pass. Instead, here is what is happening in the real world with cryptocurr
Kevin, i will be here with a looks renews in just under an hours time. This is our teacher national. Stay with us. The Max Kaiser. This is the kaiser report. The word of the day is magnitudes. Lets find out whats happening, stacy. Yes, we need to take a step back and look at the magnitudes. This is coming up in a tweet im going to read. But i also want to remind you that this is the week that set in motion the end of bretton woods right. August 15th, which was a sunday, 971. 00. President nixon went on to live television in America Sunday Evening and announce they were basically closing the Gold Window temporarily. They said, and then on monday, the 16th it came into effect. But on August 15th he announced that. And now here we are 50 years later, similar situation Sunday Night as August 15th, the 16th is that monday. Who knows what might be in store for us. Maybe theyre going to close. You know, lets call it the Camp David Window, right. Like because we have bretton woods up until 971
It is the explosion of cryptocurrencies over the past decades that has created the context for understanding the potential value and risks of digital currency. There is substantial difficulties with our current Payment Systems. 33 million americans have been locked out of the traditional Banking System. They are forced to use check pastures catchers and other services. Even with traditional savings accounts, the largest banks have proven to be untrustworthy. Counting companies customers for overdrafts or in the case of will wells fargo, outright cheating. What are the alternatives . Digital currencies has been hyped as a solution to these problems. Advocates say the currency would deliver fast, cheap, and secure payments to anyone with an internet connection. OtherS Pointed out that crypto was used by banks that squeeze customers dry. Here is what is happening in real world with cryptocurrencies. Cryptocurrencies have turned out to be a forthright alternative to real currency. Cryptocu
The Max Kaiser. This is the kaiser report. The word of the day is magnitudes. Lets find out whats happening, stacy. Yes, we need to take a step back and look at the magnitudes. This is coming up in a tweet im going to read. But i also want to remind you that this is the week that set in motion the end of bretton woods right. August 15th, which was a sunday, 971. 00. President nixon went on to live television in America Sunday Evening and announce they were basically closing the Gold Window temporarily. They said, and then on monday, the 16th it came into effect. But on August 15th, he announced that and now here we are 50 years later, similar situation, Sunday Night as August 15th, the 16th is that monday. Who knows what might be in store for us. Maybe theyre going to close. You know, i, lets call it the Camp David Window, right. Like, because we have bretton woods up until 971. Then since then we had Camp David essentially nixon close the Gold Window. They had organized that from Camp