 These are crazy times, but not unprecedented. And what we're talking about today is the decoupling of the stablecoin USDC. Before we get into that, first of all, welcome. Thanks everybody for stopping by on this interesting day that we're having in the market. So let's just dive into it, huh? This is what we got today. Bam, there you go. Everything's decoupled. So that's it for today. If you liked the video, like and subscribe. I'm just kidding. So with this one, we're seeing a decoupling of USDC. And I just woke up this. I go, well, that's kind of interesting. We haven't seen that ever in for our stablecoin USDC. And if we look out as far as 14 days or 30 days or 90 days or 180 days or one year or we max out in the beginning, we've never seen this kind of drop. So what the heck is going on? Well, as you may know, there's been a couple of banks that have gone under, Silvergate being the first one. And it looks like Silicon Valley Bank, Menlo Park, California. That right there, my friends, are people who are waiting in line to get their funds out. So I gotta tell you, Celsius, Voyager, BlockFi and FTX users are like, oh, this is your first time, huh? Yeah, that's what it's like. And I'm just glad. I can't say I'm glad. I'm disappointed in what happened, but it's just a relief that it's not another crypto product that has collapsed. So what happened here? What happened, first of all, was to look on Valley Bank. There's a great video. It was put out by Graham Stephen and there's a link in the description. And he pretty much just says, look, what they did is they've been around for quite some time, decades. And they invest into a lot of T-bills. Unfortunately, the bonds, Treasury bills, they invested into it when it was like 2%, 3%. No, 2%. And they were waiting for maturity. And unfortunately, those went up. And the only thing they had to do was just wait on to maturity. But unfortunately, they couldn't. There was a lot of different rumblings that they were becoming insolvent. And there was a run in the bank and you have a run in the bank. And guess what? That's called fractional reserve banking or fractional reserve lending. And those funds are going out and they can't pick it up. And they said, look, we can't do it. And now we're gonna rely on FDIC insurance. Unfortunately, the FDIC insurance here in the United States, that's only up to $250,000. So if you had anything over that, which a lot of big-time players did, that's gone. But that's okay because guess what? The government's gonna make it all right. And before we go on, I should have said this in the beginning. Everybody just calm down. It's gonna be okay. This is not the first time banks have collapsed. This is definitely not gonna be the last time. And for me, I think it's actually positive that we're in the right place at the right time with crypto. So the question you probably have is this, well, what the heck does this bank have to do with USDC? Well, this is what it is. So USDC, owned by Circle, what they have to do is they have to have reserves, proof reserves and all those things. And what they did was they put those reserves into Silicon Valley Bank and they had $3.3 billion exposed to it. And you think yourself, well, that's a lot of money. Well, how much is that overall? Well, it's about 12%. So this was from Circle. This was yesterday, yeah, yesterday last night, actually. Or yeah, yesterday last night at 11 PM, they put this out. And if you've been with Celsius, you know what this feels like, or Voyager or FTX. They said, look, following the confirmation at the end of today that the wires initiated on Thursday to remove balances were not yet processed. Who here went through that? Raise your hand. That happened. And that happens in traditional banking. That's happened right now. And it will continue to happen as potentially other banks go out. Who knows if this is gonna be a contagion type effect? Nobody knows. Everybody thought the contagion was done anyhow, but that was with FTX. This one's a little bit different. But that's where they're at. And they said, look, out of the 40 billion of USDC reserves, 3.3 billion remain at Silicon Valley banks. So roughly around 12, 12.2% is their reserves. So is that gonna be the most awful thing? Yeah, probably not. The question then becomes, well, the other reserves that are other banks, are those also gonna collapse? And no one has the answer for that. Who knows, it could be anything. But I found this interesting because remember, remember, calm down, it's gonna be all right. Here comes the government to save us. So this was from, oh, excuse me, this is from Dante, Desparte. He's the chief strategy officer, head of global policy at Circle. Digital currency governance consortium. And he says this, he goes, look, Circle is currently protecting USDC from a black swan failure. I gotta tell you, I'm sick of hearing the black swans, but here they are. From a black swan failure in the US banking system. So look on Valley Bank is a critical bank in the US economy and its failure without a federal rescue plan, will have broader implications for business, banking and entrepreneurs. What he's basically saying is this, it's too big to fail. Now many times we heard that, we heard that a long time. Also what's also interesting for Silicon Valley Bank, the chief financial officer was also head of departments, I believe one of the, in the financial departments of Lehman Brothers and they went bankrupt too. It's amazing how these guys still get jobs. So that's what we have. And then also as a quick reminder, so this isn't the first time a bank has gone under since the great recession, 2007, eight, nine. Silicon Valley's bank failure is the first since 2020 though. However, we had over 10 banks fail in 2014. These are large banks, 2015, six, 17, 19, 20 and now 23, we have one. It's kind of like that safety calendar that you say, hey, we have had 365 days of no accidents. Now you got to tear that all down and go, okay, we're at day zero again. Which leads me to my last point, which is this. Diversification, I know people don't like hearing this, it's quite boring, but it does protect you in days like this. This is where I was. And one thing I will say is I'm heavy cash now. I'm heavier in real estate though, real estate and land. But there is one thing that I, whoops, whoops, whoops, whoops, right here. See that little T where I crossed out because I said I don't like using tether. So I have around 1%, I have roughly around 1% in USDC. Who's laughing now? Because tether for all the fud that it receives hasn't been pegged yet. Seems like it's still going forward. I'm not saying that it is perfect, but I'm still saying that look at the winners so far. Does that mean that you should go into tether? No, I'm just making a point this whole time. Tether's actually held up out of everything. Luna, finance stable coin, which hasn't been the fact I get you, but it has been delisted. And then now here's USDC. So the question that I have for everybody is, and we'll do this in the Q&A, is do you have your funds into stables and do you have it in USDC and why do you have it in USDC? Me personally, I just have some, it's around 1%. I think I'm pretty sure it's last, but I just put up there so it's roughly what it is. I just have that in there for gambling essentially and buying things and different crazy markets and decentralized exchanges, but why would you have a majority of your funds and a stable coin right now? I just don't get it. But I mean, there's a reason for everything and that's it. So that's where we are. And the last thing I will say is, if you have a majority, like I saw a tweet from Steven, he's the owner of San Juan Smokehouse. And he said, he went through this with Voyager. And he said, I had a bunch of funds in there and I couldn't take it out. Thankfully, this is one of my good things. He said, he goes, Rob, I watched your video about Voyager making that uncollateral as long as I took it all out. He goes, but I can't imagine people who have a ton of their funds and stable coins in USDC and they can't transfer them out. And even right now Coinbase just put out a tweet that said, we're not processing your transfers of USDC out. Sorry. And they said, they pointed that they said, your funds are safe. And they said, but we're not gonna do it over the weekend. Maybe on Monday, but don't call me this, but I bet on Monday they'll be like, you know what? Maybe that's not gonna happen either. So I feel bad for this. What can you do? Well, if it's on an exchange, which I don't know, again, why it's on an exchange that you have it there, but if you do and you're on Coinbase, there's nothing you can do. Period. It's locked. If you have this on your cold storage device, you can think about it and say, well, is that 12%, is that gonna keep deep pegging or is this just running the bank and will it recover? It depends on how much you have. Me personally, again, I have less than around 1%. I'm not gonna do anything right now. If I lose it, if it goes to zero, it goes to zero, I doubt it, but it could and you have to decide. And that's why no one on YouTube can give you financial advice. First of all, they don't know what they're talking about. Second of all, and I'm not saying that everybody's know it, I can't give it to you. I'm not a financial advisor. I don't know your specific situation. I don't know how many kids you have. I don't know your income. I don't know anything about you. So there's nothing I can tell you that you should absolutely do this. But if you have a large portion that you think yourself, man, this could go sideways. It might behoove you to offload a little bit of that risk. And that's where it really comes down to. So that's it for this section. Let me know what you think about that in the comments. That'll be good in the Q and A. And just real quick, I wanted to go over this piece. This was gonna be today's major show. There was a Fox Business recording. It was from Larry McDonald. It seems like a really down to earth person, New York Times bestselling author. And I believe he is the, where is he? There he is. And he was on Fox News and he said, look, he goes within 60 days, the stock market's gonna crash. And I'm like, well, that's an interesting and really what it comes down to is this, there was two things that he talked about. He said, there's two things we need to look at. First of all, the jobs report. And he expected that there's gonna be more jobs added. Different economists also say the jobs are gonna be added. So with the jobs being added, the unemployment rate's going to not go up. It's gonna go down. And then also he said, look at the S&P earnings per share. So we just, just to talk about the earnings, the S&P 500 earnings per share, historical charts. He said that, look, he goes, the street is expecting, he said the number of 230. And I'm like, that seems kind of high. Cause right now, 2023, January, February, earnings per share is 176. He said that the street expects 230. I'm like, what? And he said, but it'll come out of 190. And I'm like, 190 was where we were at January 20. I go, I just don't see it. We're gonna go all the way up because that's what the street is saying. He says, I see it at 190 and way below. So I can see where he's coming from there. But as far as employment levels, we just got the numbers out recently. And let me blow this up. This is Ben's website into the cryptoverse. Can't recommend it enough. There's a link in the description. He's having a sale. There's also a free tier, but everything that you wanna know is in the site, really. And you can go through a lot of things and you can just see here that unemployment level was at, well, this is in millions. So there was 5.69 million. Now it's 5.94. We take a look at the actual rate to see where we're at. And we all, most of us know this. The unemployment rate has actually gone up. And unfortunately, no one wants to see people lose jobs, but that's a positive indicator for the Fed to go, okay, we're doing the right thing, which is causing havoc in the economy. So that jobs report that he was talking about isn't there yet. Does that mean that we can't see things collapse in 60 days? That's not what I'm saying. That's not what Mr. McDonald is saying. Well, I say, excuse me, that's what he is saying. Say it in 60 days. But I gotta tell you, there's this old adage and it goes like this, sell in May and go away. And I think it's interesting that he talks about in 60 days, this could happen. So we're in March, I'm just a quick math. It's not April or May. So yeah, so May would be that month where he says things are gonna collapse, essentially. And I'm thinking myself, could it be that easy? It's never that easy, but it's just something to consider. And I'm just gonna tell you like this, I'm not here for a short-term thing. If things start to really collapse, I could see it, but I'm just not too sure. Again, I was the person that thought that Bitcoin go to 150K and that didn't happen. I thought that Ethereum go to 10K and that didn't happen. There's a lot of things that I thought would happen that didn't happen. So I'm just trying to play it safe and just kind of dollar cost average and go from there. So that's what we have in that piece. And I will say this, the easiest way that I found it is like just to take a look at just historical risk bands. If you look at, again, in the cryptoverse, I love these charts because it shows you when things are, just as far as like risk levels. Actually, I should show you this. Here's the time Bitcoin time spent on each risk band. And when it goes this level, this means it's like very low risk, means it's way, way, way oversold. People don't want it. There's apathy. Usually it's in the bear market days like this, right? And when you have this in the, since 2009, there's only been 134 days, 134 days. And that whole timeframe, since 2009, when Bitcoin was in pretty much the end all be all of buys. And then over here, when it gets super overheated, it's only been 80 days and 18 days. And that's in Bitcoin. And what's great about this, you can take a look at Ethereum. Again, very few days, you can look at Cardano. Just interesting. It's had some pretty crappy days, let's be honest. You can do some BNB, Solana, Chainlink. And this is total market cap. And you can also break this down by altcoin market cap. So like one of the days to buy altcoins. So like for this one, I just wanna show you real quick. Right now, Bitcoin, you think it's low? It's not low. The current level is 0.3. So what is that? What is that? We're right here. We're right in the dead smack center of the risk days. And I still think that we got some room to go down. So I know like people say, well, Rob, why do you dollar cost average? Cause guess what? I could still be wrong. So I dollar cost average about Bitcoin, Ethereum, a bunch of different alts every day and just kind of sit around, wait till 2025, 2026. That's pretty much it. And then along the way, I'll take some profits and we have these little bear rallies so I can have a little dry powder on the side. And then what's great about this, again, we're not in that range, Ethereum, you can see like where it goes like deep, deep blue. It's only been a couple of times and it's not even close to that one. ADA, actually, ADA has hit it. It's been that 0.1 level. VNB down here when it first came out, around here, Solana, Solana was a great buy down here. I didn't buy it, but a lot of people did. Good for them. And then Chainlink, again, these are the things I look at and it goes by crypto and macro and equity. And if you're looking just to make sense of the whole situation, do your own research and to make it easy, just do this one. So again, link in the description, you get 10% off with my link. That's 10% for the first month. I finally convinced Ben to give me an affiliate link. Finally, after stealing all this stuff, he's still giving me a joint link. And that's it for today. So look, that's it for what's going on in the market. It's gonna suck for a while. But all you gotta do is just survive, essentially. Just put on your work boots, pitch your head down and get to the next level. That's pretty much it. It's not a secret. But that takes care of the news part. If you wanna stick around, we'll do a little Q&A. I'll answer all your questions. I'm sure you got some questions. I see a boatload of questions and we'll go over that. But if you're not, you gotta take off. Thanks for stopping by, I appreciate you. But now let's get into the questions and go from there.