 All right, buddy. Let's make sure everything's good. First of all, welcome to Jill asset news Take a top source in crypto break amount of bite-sized pieces all that great stuff and today is one of those days I think today is one of those days when The news comes at us fast and heavy and I wanted just to bring this to everybody's attention about what is going on as far as with the default with ever grand or ever grand how you want to say it and and The question really becomes first of all, they've already looks like their default they've already they're in default already Defaulting the question is is this priced in and this is really a matter in Reality and we'll get into why and everything else In reality it may not doesn't really make a difference in the grand scheme of things you have to understand that and I want to make that abundantly clear before we start to talk about this is that Moving forward These things are going to happen these negative aspects of what's going on are going to happen Throughout the global economy because it's unsustainable for the things that these corporations and teas are trying to do to do so just be aware of that and that sometimes short-term pain Leans to long-term gain and real quick this channel is investment opinion not investment advice and Just need to be aware of that. So first of all, hello everybody. How is the Video, how was the audio? Everything's good. I want to make sure because I don't usually do live streams too much in Puerto Rico. Don't really trust the The Wi-Fi Strength and everything else. So looks like we're okay. Let's just break into it. Shall we so The first things first is we want to take a look at what's going on the market right now today. It is a Thursday, December 9th in Puerto Rico. It is 9 a.m Eastern time. It is 8 7 6 5 throughout the United States and then Asian markets are, you know, different time zones So we have to understand where we're at and how this is going to affect as things start to open up and people start to realize What is exactly going on? So We take a look at this First of all, we'll get to the story about the default and everything else Here's what where the market is right now. We are up a whopping 0.88% watch out. That's a huge almost a percentage point. That's just Not a big deal. Bitcoin price is below 50,000 yet again The daily sentiment is bearish. This we're using trade the chain for sentiment analysis if you want to check it out links are in the description and I want you to notice one thing and let me blow this up a little bit as far as Hottest on Twitter and this is just sentiment analysis wax right here is up a hundred and nineteen percent I was some other things great things going on with the cello Travala poker starter eos Eos Wow Erdogan okb, but wax Before we get into the other parts of this just so you know Wax is I was turned on to this by crypto stash and he's the guy that's really got the pulse on what's going on in the NFT and gaming market and I follow them pretty much because of him and I just saw this 20 hours ago that Amazon is entering the wax ecosystem Amazon, you know that multi-billion dollar company And I say we're thrilled to announce that Amazon entered the collectible space by investing in at dibs.io Is a real-time fractional card market using wax VIRL NFT technology So if you're looking for some different things that are going on take a look at wax I'm gonna do a deep dive into that and how you can mint NFTs on that platform for next to nothing Superfast and they have amazing amounts of Collaborations and partnerships so that's just one thing, but if we take a look real quick at the market itself Let's take a look at the coins again It's only it's eight in the morning here. I don't know where you are at But in the last hour there's hasn't been too many changes actually things are up a little bit Solana's up point two seven Cardano's up point two five watch out and Then some a little bit of slides here and there but nothing fantastic Elrond's up 4% in 24 hours XRP is up 11% in the last 24 hours That's great especially for XRP holders all the things that went on yesterday with the crypto CEOs Given their their assessment before the house committee or the hearing And that's what's going on point zero eight percent seven day thirteen percent for Bitcoin slide So not really a big deal right now. However, this is the thing and I just I woke up and I saw this I'm like this could be a big a big deal and I just said hey this this Aspect of evergrond ever grand wherever defaulting on its debt could be a pretty big deal for the traditional markets Has it already been priced in potentially has everything gone and crept into the crypto market potentially not for sure But here is what is going on so Ever gone to felt on its debt I had a report on this a couple days ago And I know that the Chinese government is swooping in to help Restructure them just like how the American government swooped in and Restructured and helped out with the banking financial crisis in 2008 So again, is this going to be a big deal in the long run? Who knows but in the short run I think it's going to play a big part in here. What's going on So this is the credit ratings Fitch said that they drown graded and reflects the company's inability to pay interest do earlier this week on two bonds and This was actually due on Monday and people thought they would actually pay a little bits And then there was a restructuring thing and now here we are the payments were due a month ago and grace periods lapsed on Monday Fitch know that evergrond made no announcement about the payments nor did it respond to increase from the raising agency Which is they're saying hey if you're not gonna do that. We're just assuming you're not gonna pay which makes sense because when I was poor and College student and my debtors would call me I wouldn't call them back because I couldn't pay Evergrande is about 300 billion in total liabilities. Let me read again Evergrande is about 300 billion dollars in total liabilities. So people are always asking me like well, who cares that's in China But you understand How these things happen? This is now a global economy. We're not in the 1920s Where we don't interact with every single country on the planet So if you have an issue where a sector defaults on one section It has a ripple effect and that's why I think it's a little bit better that we all work together and not to mention the fact that I think crypto and digital assets will kind of buoy this system. That's that's a whole other whole other video The US Federal Reserve warned last month that trouble in Chinese real estate could damage the global economy So this kind of comes that point is it's already priced in and another filing Monday The company evergrond said it would set up a risk management committee That would be headed by Evergrande's chairman and founder Zoujian nailed it to focus on mitigating and eliminating future risks. So far this year the stock has lost 87% that's pretty bad because it was a pretty much of a big darling as far as real estate for both Retail and commercial because it was doing so many great things but now done 87% Maybe you don't feel so bad sometimes of the crypto that you may have bought and it's not doing so hot right now Anyhow the company has been scrambling for months to raise cash to repay lenders and zoo has been selling off personal assets to prop up its Finances, let me read that again. The company has been scrambling for months to raise cash to repay lenders and zoo The CEO founder has been selling off personal assets to prop up its finances Even those guys a billionaire if you owe 300 billion dollars. It's kind of tough to get to pay for all those things So another credit rating agency S&P said earlier this week that default looks inevitable for Evergrande With repayments of three and a half billion on US dollar Denominative bonds due to the incoming months. Remember why I talked about this is a global economy So it's not just in China People are buying things in the UK in the EU in America Central America What it doesn't matter everybody's buying these different bonds and different assets throughout the whole global economy And one thing goes down. It's a ripple effect and a domino and it's sometimes a problem But again, is it priced in or maybe this is not a big deal And here's where I think it's it's here. Here's a bright point Chinese Chinese authorities have been trying to contain the fallout Just the way the United States did the same thing with the banking sector They said it would send a working group to Evergrande to oversee risk management Strengthen internal controls and maintain normal operations at the request of the company That's a pretty good play if you're the company going, you know what we're going to default in these billion dollar loans Let's just bring in the government to bail us out Worked great for America The people's bank of china and other top financial regulators have tried to reassure the public That Evergrande's public can be contained the central bank on monday also announced that it would pump 188 billion into the economy to counter the real estate slump And if you read that sentence, you probably think yourself. Whoo, that's great Then we're saved and it's okay. But it's like the same thing we've been talking about this channel forever Can you keep printing money and quantitative easing yourself? And just print and print and print without actually producing any types of tangible goods and services GDP And be okay with that in the long run. I don't think you can I could be wrong I'm not an economist But it doesn't make sense to me that you can keep printing and printing and printing and not have some kind of repercussions along the way And then uh, I think this is where it gets a little worse But other chinese developers are also in trouble other chinese developers are also in trouble on thursday Fitch downgraded the keiza group keiza keiza to restricted default. So again That is uh, what's going on in a nutshell. So the big question you have to ask yourself is this Is for all these things that are going on Do people already know about this? Yes, they did we all knew about this we've been talking with this on the channel for months now actually and um The question then becomes uh, is this priced in and do you really have anything to worry about? Or is this something that could affect the markets and I will say that the markets aren't I don't think the markets are open right now. It's 8 a.m Eastern center time. It's 9 a.m for atlantic center time So then the question then becomes what is going to happen when the markets open? I can't tell you What it is and I can't really say if This is going to be Like the big effect. I will just know this I do not see a way in any way shape or form how this doesn't affect the traditional markets I vote if you're looking at the dow on sp500 once that opens up and gets roaring. I don't see how I mean just just the width of Of them defaulting last week caused a crash actually two fridays ago Not a crash. Excuse me a pullback. I know people hate when I say crash So it's not a crash. It's a pullback. Sure, whatever uh, and if that happened on on just The possibility of a default now we have a confirmation of a default Will that affect the traditional markets? Yeah, probably so then people are like, well, who cares? That's a traditional market. That's not a cryptocurrency. Again, guess who's here in crypto All the bunch of these institutional investors And that's a problem because Again, we love when they bring their money in right? We're like come on here Bring all your money in and buy all the crypto that you want, but don't sell Well, guess what? Hedge fund managers and institutions their whole job is the bottom line And when they see these different they don't believe in crypto in the future of crypto like we do I mean, there's some that do but not that many. I mean, there's not many michael stalers out there. Okay So when they see these things going on they're like, you know what? This is going to affect our positions in in this stock and this position and this, you know, our traditional equities Let's sell some stuff over on on crypto because it's open 247 365. We don't believe it anyhow And it's got a long way to go. So let's just sell off there and go out that way That's one possibility and the possibilities are like, you know what? This isn't a big deal. We already known about this for a long time It's priced in Chinese government's going to step in it's going to be no big deal I think in the short run at least today I don't see how this doesn't affect it How this how this how the domino falls later on not for sure But hey, if the Chinese government steps in Chinese government steps in just like they did with the financial crisis in 2008 with America. He gets how it is. So that's what we have going on. I just wanted to Just get everybody else's opinion not in the comment section and also in because I posted this about gosh About an hour ago on twitter if you don't follow me on twitter I usually do things on twitter first and then I bring this over here So if you want to follow me on twitter, it's links in the description At news asset. So let's see here This is what people said and these are pretty good points. That's why I you can really kind of get the wisdom from the crowd in twitter Um, this kryptonite says was only a matter of time bow tide gonzala says it's already priced in. I sure hope so I sure hope so Some people say you're correct. It's baked in That's it. Let me see Let me refresh this Because I know there's a bunch more Ah, yeah, here we go Neo says this is the new china For the fate of the crypto markets. I hope tether isn't wrapped up in chinese debts. I don't want to get into that I don't understand why people use tether. I don't like it myself I just use usdc and I know some people say oh, well, you know, it's the only thing that's available usdc is available a lot of other places now. So I don't I don't get it Uh, I agree traditional markets will negatively impact. We're going to find out how much the crypto market has evolved I don't have a lot of faith in the ability of investors. Yeah, and I mean, I did a tweet about this yesterday. I just said told everybody I'm like, look, um, I know people like to talk about how we are not positively correlated With the markets, but you can see it clearly That when the traditional markets go down, so does cryptocurrency not to the exact same percentage points, but it still happens So I think this will happen, but it could be wrong. I hope i'm wrong And then again, let me make this clear In the long run, does it matter? Does it matter in in three or four years? Uh, what's happening in this market? Does it matter in? Like michael salo talks about in like the next decade where the price of bitcoin's going remember the decade ago You know what bitcoin was worth? Like 80 bucks 90 bucks and now it's uh $50,000 So again in the long run if you're a holder like me, does this make a big deal? Not really, but you're gonna feel some pain if you're just getting into the crypto market This is very painful But I went through this in 2017 when things went all the way up and did a little bit of a big pullback crypto winner This happened in 2013 at 2014 and it happened in uh 2010 11 So if you're new it's kind of like unfortunately getting your feet wet But again, look towards the big picture not financial advice just financial opinion And it finishes up. What does people say? Vincent says this is uh, thus the decline last week probably a little more volatile today. I can agree with that Let's see what the bondholders do was only matter of time not good Dip ready for the dip if you've got money still for these dips hats off to you I am all dipped out. I have bought every single Almost every single dip for the last year and uh, yeah, I'm pretty much tapped out That's pretty much it This was funny. Oh no. Anyway, that's right It's already priced in like the first time china banned crypto. Yeah, that's true Now a hundred thousand times later. We still have a reaction to it The whales use every bad news to scare the retail and we'll keep going. It's a good point Wow download disappointing you're spreading fear like this everground will not crash the markets even when they close their doors The amount of real death that they have isn't it hasn't half as much as the media says getting rid of bias traders push Prices down and people panic sell again It's all which what you believe it is it's not a It's not like I'm spreading all this This negative information, but you should be prepared and I can't tell you what to do My goals aren't your goals So, you know for whatever however you take this if you're like it doesn't matter again the long run. It doesn't matter But for what happens you're gonna see I think there's gonna be a little bit of negativity I could be wrong. That's all we got. So let's uh, Let's go into some comments This is a good one. All you gotta do is look at the Asian market. They're 14 hours ahead of the US. Well, how we doing here? What does price didn't mean it means that this default people already knew about it They knew was gonna happen and they the price of the cryptocurrency and in all traditional markets It's already priced and they knew was gonna happen smart money knew it and they already sold off and out here We go flat's neck. This is old news. No It was a confirmation And retail money keep diamond hands US DC this is right is back one and one the dollar US CT is not fully back the dollar. No, but back by the different assets Sell the rumor by the news got sold last week. Not it's a buy. Yeah Again, if I had more money, I would probably buying this potential dip that's coming if it's coming Who knows no one has a crystal ball buy it now If it drops, it could be a whole coin opportunity. Yeah, and that's the set Like when people talk about like this is a great point When people talk about like you shouldn't spread fud and and and fear and doubts misunderstanding It's all how you play it, right? If if someone comes out if china bans crypto again right Would anybody here look at that like oh the sky is falling is the worst thing of all time No, I think most of us here would look at him like great Because you know what you guys are old news anyhow if it does tumble down a little bit I know I'm mentally prepared for that and I can buy that in so it's not like a big deal. It's all There there are no negatives. There are only opportunities It's just how that you look at things and how you play the situation I think that's the bigger point that I'm trying to make here And opportunity by cheap crypto will be in pursuit maybe Packs is back with the bank And then in my opinion it's already priced in So guys nothing burger So guys that's it for for right now. We've gone I've kind of beat a dead horse over the last 19 minutes, but that's it So let me just think about that in the comment section again Is this the big deal in the long term probably not in the short term expect a little volatility and that's what's going on So if you like today's video give it a thumbs up consider subscribing a lot of things to talk about our time sensitive And that's it for today. So thanks so much for stopping by appreciate it and see you on the next one