Welcome back to the channel everyone today, i want to talk about how sec chair gary gensler is still being paid on a monthly basis by goldman sachs right now in 2021 and in 2022, and it seems like nothing has changed so stay tuned and let's make some Money and now i want to dive straight in with the key information so sec, chair, gary gensler, is to be paid by goldman sachs. A new disclosure reveals gary gensler. The chairman of the fcc is to receive payments by goldman sachs. That in a 2009 disclosure was said to begin in 2022.

back then, he said he was to receive six thousand seven hundred dollars a year in a defined benefit plan, with a value not readily as attainable. So, to my knowledge, a defined benefit plan is a type of pension, so maybe goldman's putting in six thousand seven hundred dollars a year straight into his pension fund. But i don't really know what this value not readily ascertainable means. Is he going to be receiving more than thousand seven hundred dollars a year, or is he going to get additional benefits? On top of that, that don't necessarily have a known value like stocks of some form in a newer 2020 disclosure gensler says he expects to receive 977 dollars a month or 11 000 a year to begin when he is 71..

Ginsler also received a 1 000 honorarium. A voluntary payment by the world bank in november 20th, 2019., interestingly, there's no relevant public event listed on the world bank website for that day and gensler does not show up when searched as a speaker. So he basically just got backhanded a thousand dollars from the world bank, and on top of that, gary gensler has between 50 million dollars to 100 million dollars in investments, almost all of them in stocks. Despite repeatedly stating that he was a professor at mit teaching blockchain, for which he still receives royalties for those teachings and those courses, and despite writing some editorials on blockchain and bitcoin innovation, ginsler nonetheless has never bought bitcoin or any other crypto.

So for somebody that supposedly supports bitcoin and does a lot of teaching on bitcoin or did in the past, it's weird that he's never actually bought any and doesn't actually hold any. Maybe he knows the regulations are around the corner. It says here that instead has almost all of his net worth in the stock market, but has no stake in crypto, so he doesn't really care if it crashes or otherwise. Due to his actions, the 2020 filing does not mention which specific stocks he's invested in, but a stated annabelle lee llc described as a family investment llc appears to hold most of his wealth and somewhat conventionally.

In the 2009 filing gensler said, the funds manager declined to provide me with sufficient information to enable me to disclose the fund's underlying assets in my financial disclosure report. So, even though gary ginza holds most of his money in stocks, he supposedly doesn't know which stocks he actually holds or basically won't allow the fund manager to tell him. They then also went on to publish the full 2009 report and the 2020 report. So if you wanted to check it out for yourself and see what investments gary gensler actually holds, it will be linked in the description below and just a quick one if you haven't already be sure to sign up to moomoo, because they're actually running a new promotion.

Not only do you get a free stock worth up to 350 dollars, and not only do you get a second free stock with a guaranteed value of 50 on top of that, but you also get a third free stock with another guaranteed value of 40. On top of all of those, so that's at least 90 nearly a hundred dollars in guaranteed free stocks just for signing up using the link down below in the description and depositing at least a hundred dollars. Now you could always sell those 90 to 100 in free stocks, and you get at least two, if not three entirely free shares of amc and now dave lauer. The former citadel employee actually posted a brilliant thread here about the current situation of the economy and the market.

He says: do you remember? In february, when thomas peterby said we came dangerously close to the collapse of the entire system, i showed you this interview a month or two ago on my channel. Thomas pettyfee is the founder and chairman of interactive brokers and basically said that gamestop almost caused the entire market to collapse. Dave says i just had a very stimulating discussion on the nature of systemic risk, market structure and leverage and or shorting. How is it even possible that gamestop could have brought something like this about? Can you imagine if gamestop was responsible for the entire market grinding to a whole, and, what's even crazier, is that nothing has changed? 10 months later, we are 10 months after an event that could have brought the entire us market down and nothing has changed.

Nothing has been done, there is systemic risk in market structure, and that is not being addressed. This is dangerous for the real economy, not just our casino markets. We are not addressing the elephant in the room because addressing that elephant means taking on rich and powerful people, look at the sec gamestop report and tell me that they're ready to take it on the gamestop report was watered down, because so many regulators have gone through The revolving door and are now incentivised to maintain the status quo. They will lobby and push and do everything they can to prevent hard choices being made and incumbent interests to be threatened.

Just think about all those speakers, all those fed officials that receive massive backhand amounts from large institutions like citadel disclosed as speaking fees. A system that can be brought down by gamestop is in no offense a fragile system that should not be underpinning the us economy. Anyone pushing against major systemic changes is making too much money to care about what happens. This is serious.

We saw the intersection of market structure, systemic risk and the real economy in january, and the only reason crisis was averted was because of underhanded actions to stop people from buying stocks and crash the price of a stock, and that has never been done before and now. They're trying to bury it and sweep it under the rug, rather than confront the difficult choices that need to be made any time. Someone calls into question the severity of this risk, remind them of what petafee said: the collapse of the entire system because of gamestop. If you game out pun intended what would have happened, what pesfee was talking about, it would have meant systemic firms, failing possibly even the dtcc failing and the entire market coming to a halt as well because of shorting leverage and systemic risk.

We cannot allow that to continue. I think dave lauer makes a brilliant point here. Yes, we do want amc and gamestop to squeeze, but we don't want the entire stock market to crash and cause millions of people to become unemployed and lose savings. And it's crazy that a simple short squeeze could potentially ruin the entire financial system and the entire us economy.

I also wanted to touch on the new dtcc collateral haircuts and why the end game is here, so the new notice modified the collateral value for securities as follows: triple a to double a will receive a haircut ranging between five to thirty five percent, those related below Double a will receive a 100 haircut, so at the moment, when an institution gets a margin, call from the dtcc to stump up more collateral, they can obviously either stump up high cash collateral as in actual cash, or they can stump up a highly rated security. Like a triple a security or a double a security, and at the moment those securities are received at face value, so say they hand over a triple a or a double a security like, for example, microsoft or amazon that will be taken at 100. Face value as collateral, but the new haircut rules means that they're, basically gon na, have to stump up a lot more actual collateral if they're not stumping up cash. So what does this exactly mean if you want to take out a loan or margin to go long or short on our security? You need collateral to secure the loan, simple math.

Let's say you have a hundred dollars worth of tesla, but instead of using tesla. Let's use microsoft or apple, and you want to take out a hundred dollar loan to yolo on gamestop. The person willing to give you the money may say sure, but you have to give me 25 worth of collateral just in case your bet goes bad and then you can sell off your position less 25 and i'll. Take the 25 of collateral.

But collateral has to be proportional to its value, so the person borrowing you money would not take 25 of evergrande as collateral, for example, because, obviously, when you come to liquidate your position that you've lost out on and they come to liquidate your evergrande, it might not Be worth that 25 anymore and here's how it impacts us and how it impacts amc. Do you know what citadel's biggest long position is tesla? Do you know what tesla's credit rating is it's double, b plus as in a junk bond, so when citadel gets a margin, call or has to stump up more collateral to fuel its amc in gamestop short positions due to a market downturn, for example - and they say We'd like to meet this margin call with our tesla collateral. The dtcc will say. Sorry, no thank you.

What else do you have then citadel will obviously respond and say: well, we have our own bonds and we also have some zombie stocks and the dtcc will say. Sorry, you've got a credit rating of triple b, so also worthless, and zombie stocks are also not accepted as collateral. This is brilliant news because it basically means that citadel don't have the cash or even the collateral required to meet those dtcc margin calls and therefore for citadel to still survive. They have to survive a november first haircut without failing a margin call.

They have to survive at mid-november or mid-december, fed taper or market downturn, without failing that margin call and they also have to survive the fed raising rates in 2022 without failing a margin call, and all of that is looking ever more unlikely and therefore somewhere along here. In this game, plan of this citadel will lose and the mother of all short squeezes will begin. I also wanted to touch on user of intellect and a few others that have been working on a new program in order to be able to log your shares and get a true count of amc shares out there. That doesn't involve you having to transfer those shares to a new broker, basically very similar to the say, technologies vote count, although it's been created by amc and gamestop apes, rather than a sketchy company that just got sold off to robin hood user of intellect says, breaking The beta version of the hashtag log, the float simple technology solution to lock the flow of amc and gamestop, is under final testing and we are so so excited to share a preview.

Synthetic shares, no more credits to many community members and your trusted. Amc and gamestop activists, so this log, the float website, allows you to enter as many amc shares as you want to log it tracks your ip address and obviously you can then just upload a screenshot to support your log. You don't have to transfer your shares out of a platform into a different platform and you don't have to sign up for a sketchy website and give them all of your details. You just simply send across a screenshot and i'm sure you could redact information as well.

On the front, page also discloses the number of outstanding shares, obviously by yahoo finance. It discloses the number of institutional shares and then also shows the total number of retail shares logged so far. I do think they also need to factor in a way to make sure the data uploaded isn't faked, like photoshopped documents or people using a vpn to register the same shares over and over. But when this website is finished, i for one will personally be logging.

My float of amc shares onto the website and finally, i also wanted to touch on and rewind to the unrealized games. Tax that's been proposed by janet yellen and why it simply wouldn't work. If it was implemented for regular everyday americans, it would be impossible for them to meet and we would basically lose everything. Matt tweeted saying stocks are worth a hundred dollars.

Print lots of money and stocks are now worth two hundred dollars tax. The unrealized gain of a hundred dollars, rinse and repeat, and that's how the fed can continue taking massive amounts of tax but sparky replied, saying your house is worth two hundred thousand dollars print a lot of money and your house is now worth four hundred thousand dollars. Tax, the unrealized gain of two hundred thousand dollars and well obviously you don't have that kind of cash. So you have to sell your home and blackrock buys your house at auction for a massive discount and you lose everything.

This is why that unrealized gains tax. That's been proposed by janet yellen would be absolutely horrendous if it did come over to everyday, regular americans, rather than just being focused to the billionaires, but, as i'm sure you'll agree, i really just don't see them introducing this tax solely for billionaires. It's most definitely going to come down to everybody else as well. If it was passed guys be sure to.

Let me know down in the comments below what you think about sec chair, gary gensler, still being paid by goldman sachs. Even though he's the chair of the sec and if you haven't already be sure to sign up to moomoo to get those free stocks because, at the end of the day, everybody likes free money and as always guys. If you enjoyed this video be sure to check out some of my others, alternatively, subscribe to the channel and doing that notification bell, because that way, you'll be alerted. When i upload a new video cheers.