Welcome back to the channel everyone today i want to talk about gary gensler, squeezing wall street and some actual proof that congressman david scott has indeed been paid off by the hedges, so stay tuned and let's make some money. But before i dive into the video, i just want to give a massive shout out to the 5 100 of you that have currently ding that notification bell, because you guys are always the first to watch a new video as soon as it's released. So guys be sure to drop a like down below subscribe to the channel and think that notification bell, if you haven't already so that you don't miss another video, just like this one and just a quick one before i dive in with the key information, if you Haven't already be sure to pick yourself up, some amc related merch. This is the to the moon, hoodie, and i've also got a bunch of other designs available on my website, linked in the description below, and i want to dive straight in with the key information.

So amc to the moon, tweeted saying somebody accidentally hit the clap button twice laughing. My ass off everything with ken griffin is a lie now. This is a small extract from the clip where ken griffin was interviewed, showing a very synthetic clap track being played. In the background, if you haven't already heard it i'll play it, for you now a great education and to have a wife, a life well lived as you as you may imagine, folks, ken and i are going to return to the topic of politics a little later In the show, but for the moment now, as you could hear, it was a very unusual clap track as there was a bunch of clapping and then all of a sudden, it stopped and then restarted straight after as soon as the interviewer said, a few words amc To the moon also notes that he doesn't even look at the audience at all, because there isn't an audience.

I think this really would be ken griffin's final nail in his coffin if this was basically a fake interview, or at least with a fake audience and fake claps, just to add additional emphasis. Now i do want to apologize for my video yesterday because i got a bit mixed up with congressman tim, scott and congressman david. Scott obviously are indeed two very different people. I'm from the uk so make these mistakes every now and then, but a lot of you did correct me.

So thank you very much for the correction and i was sure to change it in the title in the description as well. Now unusual wales, tweeted saying david scott, not tim, scott, who is going to find retail investors from using social media to limit stock manipulation, received last quarter, a hundred and eighteen thousand dollars from commercial banks a hundred and seventeen thousand dollars from insurance and a hundred and One thousand dollars from investment wall street pacs now, obviously that's over three hundred thousand dollars just for one single quarter, so that means he receives over a million dollars a year from commercial banks, investment banks on wall street and insurance firms and therefore, as unusual wales says, He is paid by wall street. Something else that i found very interesting was that david scott was named among the 25 most corrupt members of congress in 2007 by watchdog group citizens for responsibility and ethics. His primary campaign contributions came from banks, as you can see that for the top 25 members of the house, if you filter their funding from largest to smallest, you have 46 500 received from commercial banks in this one specific screenshot.

This screenshot is specifically for 2022 as in future campaigns, and that's why the numbers don't exactly tie up to unusual wales's post, and it also says down here on his wikipedia page, that scott was named as one of the 25 most corrupt members of congress by the Political watchdog group citizens for responsibility and ethics in 2007.. Now we've also got a new article saying sec chair gary gensler aims to save investors money by squeezing wall street. This is wall. Street's new director outlined an aggressive regulatory agenda that could put pressure on the profit margins of the financial industry.

Gary gensler, chairman of the sec, is working on stricter rules for high-speed trading companies, private equity managers, investment trusts and online brokerage firms in less than six months. After employment gensler says he wants to reduce capital market costs for companies raising funds and general investors saving for retirement. His main goal is to say that profits and salaries, known as economic rents, are more than the purely competitive market allows. We want to deal with and reduce the rent or the salaries in the capital market.

Skinzler said he said: finance as a share of u.s economic production has more than doubled since the 1950s accounting for about eight percent of gdp. Today, if we go back to normal, that would be a huge saving. He said by enforcing regulation risks and shaking some of wall street's most profitable business models. Some republicans have accused him of being overkill.

I do think it is good that gary gensler is working on stricter rules for all these firms and to reduce barriers to entry and to reduce cost to entry for regular investors like you and i, but i do also think there's many more important things that gary Gensler needs to be working on, such as i don't know, manipulation and fraud in the financial markets. We've also got a tweet from a chief economist, saying europe's gauge for credit risk climbs to its highest point since march, i assume march of 2020. What that basically means is that europe is already feeling the effects of china's evergrande and it's starting to boost credit risk in the european union. And therefore, it seems, like a credit event, is well on its way.

And it's not just going to be solely localized to evergrande or property developers in china, but it's also going to impact financial institutions also not only just in china but across the entire world. Yields on junk bonds are also starting to go through the roof worldwide, as well, not just in china, but also in the us. On top of that jpmorgan's jamie dimon cautions a us default would be potentially catastrophic. Jpmorgan has begun preparing for the possibility of the united states, hitting its debt limit chief executive, jamie dimon, told reuters on tuesday adding he nevertheless expected policymakers to find a solution to avoid that potentially catastrophic event.

The country's largest lender has begun scenario planning for how a potential us credit default would affect the repo and money markets, client contracts, its capital ratios, and how ratings agencies would react. Diamond said in an interview. This is like the third time we've had to do this. He said every single time this comes up, he gets fixed, but we should have never gotten this close in the first place.

I just think this whole thing is mistaken and one day we should just have a bipartisan bill and get rid of the debt ceiling, because it's all politics, most importantly, he said you've - got to check the contracts and try and predict it out. If i remember correctly, the last time we got prepared for this, it cost us a hundred million dollars and therefore all of this scenario, planning is very, very expensive for the big banks and therefore, even if the debt limit does get increased, it's still very expensive and They've still had to pay out a lot of money in planning costs, as i mentioned in my video this week, congress really needs to come to a decision by the 11th of october, because there's a recess after that, and then by the time they come back from Recess the us will have already defaulted and finally, i've got some good news for crypto in that live stream. Yesterday, with gary gensler, he said that the agency won't impose a china-like crypto ban. As that authority lies with congress.

Gary said that most tokens might be some form of security, but the sec has no plans on banning cryptocurrency. Gary gensler said the sec has no plans to ban cryptocurrencies, as that authority, in fact lies with congress. Adding that most tokens meet the test of being some form of security, i think that many of these tokens do meet the tests of being an investment contract or a note, or some other form of security that we bring them within the investor protection remit of the Sec and gensler said that crypto exchanges do need to register with the sec, because some of their tokens or products might be securities. He said that our approach is really quite different to china, making cryptocurrency transactions illegal, and he said that the sec is looking into how best to ensure that industry protects investors and consumers and to follow anti-money laundering and tax compliance laws.

Therefore, i do think it's good that the sec isn't looking to ban cryptocurrency, but i do think they need to kind of sort themselves out and decide which tokens are securities and which ones aren't guys be sure to. Let me know down in the comments below what you think about gary gensler's plans to work on stricter rulings for institutions. I do think it's good that he has got these plans, but so far he hasn't really put anything in motion. Yet he's all talk and no do and also while you're down there be sure to check out some of my amc related merch.

My personal favorites are the space ape t-shirt and also the to the moon t-shirt 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.