Welcome back to the channel everyone today, i want to talk about joe biden meeting with bank ceos because of debt ceiling pressures and the impending market crash, and i want to talk about how the hedges have now secured a net long position on amc and are free To let it squeeze so stay tuned and let's make some money, but before i dive into the video, if you haven't already be sure to sign up to blockfy with blockfy, you cannot only invest in bitcoin, but you can also earn interest on your deposits. You can also take out crypto backed loans. If you need some cash, but don't want to have to sell off your bitcoin and you can even get a cash back credit card with block fi. That pays you up to 1.5 cashback on your purchases in crypto, linked in the description below, and i want to dive straight in with the key information.

So joe biden is to meet with business leaders amid debt ceiling pressure campaign on gop. President biden on wednesday will meet with a group of business leaders about the need for action on the debt ceiling. As the white house warns, of the catastrophic risks of default biden. Will meet virtually and in person with a range of business leaders, a white house official said the group will include the citibank, ceo, the raytheon, ceo, the national association of realtors president, the aarp ceo, the nasdaq president and ceo, the deloitte llp global ceo, jp morgan chase.

Ceo intel, ceo and bank of america, ceo as well now that's some big ceos from very, very large banks and also some giant giant companies like intel, deloitte and raytheon. Clearly, president biden is very very worried about the incoming market crash and needs to discuss with bank leaders the ceos to prepare them for. What's about to happen, these executives represent some of america's best known companies and industries, and they understand first hand that a default would be economically devastating, risking millions of jobs and throwing our country into recession and causing lasting harm to america's economic strength by threatening the dollar Status as the currency, the world relies on and downgrading the us's credit rating. The white house official said biden plans to reiterate the cost of delay in action to suspend or raise the debt ceiling and criticize republicans for their obstruction and political gains.

The president will detail the republican obstruction that has led us to this point with the gop refusing to do the right thing by fulfilling its bipartisan responsibility to address the debt limit, even after adding eight trillion dollars under the previous administration. The white house official said the meeting is the latest attempt by the white house to exert pressure on republicans to back down from filibustering democratic attempts to suspend the debt ceiling through regular order. Thus far, republicans have refused to vote to suspend or raise the debt ceiling and demanded. Democrats do so through budget reconciliation, a lengthy process that allows them to sidestep the legislative filibuster senate majority.

Leader has teed up another vote wednesday that republicans were expected to block biden, escalated his rhetoric against republicans earlier this week, demanding they get out of the way and allowed democrats to suspend the debt ceiling. Meanwhile, the white house council of economic advisers warned in a blog post on wednesday that a default would fundamentally hinder the federal government from serving the american people and have serious and protracted financial and economic effects. Everyone in america would feel the effects of a default if the united states were to default. Tens of millions, including families with children, retirees and veterans, would quickly even overnight in some cases, face the prospects of losing the regular federal payments that helped them to make ends meet.

Clearly, if the us defaults on its debt, it will be very, very bad. Obviously, biodon is trying to do his best to convince the republicans to, as he says, get out of the way and allow them to pass the debt ceiling increase. What he's trying to do now is talk to the leaders of these major banks and see if they can convince the republicans just how important the debt ceiling increase actually is. I think there is word the republicans are going to agree to a very short increase, but i don't really know what form that's going to take just yet and whether it'll actually happen yet there's only like five days really until the us defaults on its death.

Obviously, technically it doesn't default until the 18th, but the senate goes on recess between the 11th and the 18th. On top of this, senator joe manchin says, you'll block out any effort to carve out an exception to the filibuster in order to raise the debt limit, and therefore it just seems like more and more that it's not necessarily solely the republicans that are at fault here. But it's also the democrats, because both of them are just unwilling to negotiate and we've got a tweet that says: how can this be resolved? Dems are saying no to reconciliation, and the gop is saying no to up or down by simple majority. Manchin holding his ground is the administration already preparing for the full.

On top of this, the us five-year credit default swaps have risen further and have hit the highest since march 2018 at 17 basis points. Now. I think this is a mix between the debt ceiling problem and evergrande bleeding over into the us, as well as credit default swaps rise. It basically means that companies, or just the us as a whole, is more and more likely to default on its debt or to just flat out default in the sense of a company and therefore the fact that these credit default swaps are rising so high.

It means that financial institutions believe that the us very very might well default on its dare and we've also got a post from the dark pool guy here on wicked wednesday keeping the liquidity drive in line with the trend. Amc's position rises four times from 200 million dollars in the dark pool as a net position to one billion dollars in the dark pool as a net position, and therefore it's hitting the positive dark pool power rankings at number 22, with 20.62 million shares worth 1.02 billion Dollars the velocity of liquidity is growing, but there are no dates. Basically, what this means, as you can see here, is that for a very very long time, the total net position of all shares traded in the dark pool was very, very heavily negative or very heavily sure, basically, meaning that most shares traded in the dark pool were All shorts and therefore all of the financial institutions out there were largely holding short positions being the big ones like citadel and simplex and the others. But now you can see the total net position in the dark pool is now positive, basically meaning that a lot of these institutions and hedge funds now own long positions rather than short positions, just as a specific guidance of what you're looking at you're.

Looking at this line here, where it created a very deep pocket down here, and then it's slowly turned now back positive up here. The last time the darkfall activity turned positive was right here right at the very, very end of may, just before the last run up, and obviously you can see here that back in january, the dark pool position was also positive. Just before the january run up now, i do think this is very, very important and worth keeping an eye on, and i do think it could be a key catalyst. I'm not saying the squeeze is going to happen tomorrow.

Obviously i or nobody else has no idea which exact specific day or time it's going to happen on, but i do think this is a promising sign. I'd like to see over the next few days that dark pull position, get even more positive, like it did here. Back in may, it didn't just jump over the edge and then come back down. It actually got quite a bit higher next up.

I want to talk about how ken griffin is kind of an evil. Genius he's managed to divert search engines away from his trending illegal behavior, with one interview talking about chicago's crime rate beforehand. If he typed into google anything that had to do with ken griffin committing a crime or ken griffin lying you'd, be met with our hashtag. Ken griffin lied about that time that he lied in front of congress.

But now you're met with his most recent interview, where he talks about chicago's crime rate and compares chicago to afghanistan, which, by the way, is a terrible terrible comparison, because it's absolutely awful what has been going on in afghanistan and the surrounding countries. For far too long and really chicago doesn't even compare, as you can see, pretty much every single search result here is of that recent interview just on all different websites. Now i also wanted to talk about amc becoming the first u.s theater chain to accept cryptocurrencies and not only accept cryptocurrencies, but expect them way sooner than was planned. Obviously, adam aaron had planned to accept cryptocurrency by the end of this year and to accept dogecoin as well by the start of 2022, but now he is already accepting cryptocurrency and dogecoin and we're only in october, adam aaron tweeted, saying huge news: dogecoin fans as we Work to accept online crypto payments, you can now buy amc, theater digital gift cards up to 200 per day, with dogecoin and other cryptocurrency, using a bit pay wallet, they're already accepting bitcoin, dogecoin and ethereum, and also other cryptocurrencies as well, and it will be accepted on Amc's website mobile app and in physical theaters - and this is obviously huge news, as the adoption rate of cryptocurrencies has been drastically increasing on tuesday sec chair gary gensler, obviously confirmed that the agency won't be banning cryptocurrency.

Like i explained in my most recent video now, while people won't necessarily be rushing over each other to buy amc, theater gift cards with their cryptocurrency, especially with cryptocurrency on the run at the moment, it is good and it does show that adam aaron is moving with The times it shows that adam aaron isn't old and is getting left behind and the theaters are dying. It shows that adam aaron is right here right in the now and potentially even in the future, ahead of many other companies getting themselves ready to accept cryptocurrency. And finally, if you wanted more proof that short hedge funds are running out of ammunition. Just look at the angle of the recent short attacks and how they're slowly approaching 180 degrees.

This is obviously a chart showing gamestop and not amc, but the two charts are obviously very similar. You can see here back in january, the drop was almost instantaneous, but as we started to move towards april and july and august, each ladder attack or each drop or each push down by the hedges is becoming less and less powerful. This is a brilliant sign and it shows with each attempt they're getting weaker and weaker and failing to push the price of amc and of gamestop down less and less each time, guys be sure to. Let me know down in the comments below what you think about.

President biden, discussing with the ceos of major banks about the incoming market crash and the debt ceiling dilemma and guys, while you're down there, be sure to sign up with block fight and to deposit at least a hundred dollars or more. If you can, because you also get up to 250 dollars worth of free bitcoin and as always guys if you enjoyed this video, be sure to check out some of my others. Alternatively, subscribe to the channel and ding that notification bell, because that way, you'll be alerted when i upload a new video cheers.