BRF #2: IMF Layer 2 Currency
Debasing Global Currencies & IMF Layer 2 Currency!
I bet if I told you that the IMF quietly just released a layer 2 currency that is going to speed up the global fiat debasement, you would say no way and that you didn’t hear about it on any news networks…right?
Well, its been awhile since I looked at the SDR ( Special Drawing Rights) currency the IMF launched in the 1969 which is a non-currency-currency, aka reserve asset bundle comprised of the USD, EURO, GBP, JPY and CYN.
Here is an excerpt from the IMF website…
The SDR was created as a supplementary international reserve asset in the context of the Bretton Woods fixed exchange rate system. The collapse of Bretton Woods system in 1973 and the shift of major currencies to floating exchange rate regimes lessened the reliance on the SDR as a global reserve asset. Nonetheless, SDR allocations can play a role in providing liquidity and supplementing member countries’ official reserves, as was the case amid the global financial crisis.
The SDR serves as the unit of account of the IMF and some other international organizations.
The SDR is neither a currency nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. SDRs can be exchanged for these currencies.
They sit on about a trillion dollars in assets, similar to many countries (in fact the US Treasury slipped below $1 trillion in cash balance just last week in the midst of mailing out the latest stimulus checks) yet the amount of SDR that has been printed since its creation has been really low up until now.
On March 23rd, the IMF approved a $650 billion dollar SDR allocation to help bailout developing nations, this came after Janet Yellen all but demanded the IMF do this in order to help pull out the global economy from this recession. Up until now they have only issued out 204.2 billion SDR (mostly issued after the 2009 financial crisis) and now effectively just tippled the supply overnight.
This is absolutely insane and will only speed up hyper inflation due to the overall debasement of all other fiat currencies. This is also effectively a layer 2 currency that no one really owns, no one is liable for yet dilutes value in the global financial system. Pretty brilliant if you think about it.
In This Issue:
Debasing Global Currencies & IMF Layer 2 Currency
Bitcoin Charts
Altcoin Charts
Cyber Attack Simulation
Bitcoin Could Reach $400k
Sponsors & Recommended tools
Bitcoin Thoughts & Analysis
Lets look at some charts, starting at the top here. If we zoom out on the 3 day chart you see we have now put in 2 consecutive higher lows (HLs) and touched the red horizontal line, so we can expect that we consolidate here for a bit as momentum is built (consolidation under resistance is bullish) or we get a pullback from some well timed fud.
Not much has changed overall bullish.
Here is a quick look at the daily, makes the HLs more obvious
Eth Thoughts & Analysis
Eth I am way more hesitant on then bitcoin to be honest, we have the similar HLs but the difference is we have a clear marked high (red horizontal line) and price hasn’t been able to retest that level again and each impulse up now is looking weaker and weaker. Most people that longed eth down at the lows will be looking to de-risk in the green box which means it will probably get front ran at 1900.
If bitcoin runs to all time highs you can assume that eth will probably get dragged along with it and we have now spent about 2 months in this pattern, waiting till a clear break of all time highs on eth and retest would be the next logical place to look at if not already long.
Altcoin Charts
Ok, going to attempt to look at some alts, thing is I usually get really excited and want to chart too much but these emails do have a max allowed length so we can’t. That is part of the beauty here, there is ALWAYS fresh opportunities in crypto as there are so many alts and defi now. Oh, I really don’t ever chart XRP or LTC nor do I trade them often, I just don’t really care about those projects so rarely look at them.
AAVE
Lets start with the top with AAVE, this is called a blue chip defi as its so well integrated and constantly announcing new things, take for example today.
AAVE on the daily painting what I call the bouncy ball, where price drops to the same support line and has smaller and smaller impulse up until momentum flattens out and it coils so tight that it mega pumps up. I assume up because we are in a bull market so we assume up until proven wrong, its that simple.
SRM
SRM aka Sam coin looking really good here after retesting support (red horizontal) cleared to at least test the highs from here.
BNB
Binance coin is another one I like to look at, especially now that they are pushing their own competitor to uniswap (BSC), this is a solid coin to play.
The price action has been building in this pattern since Feb 19th (so over a month now) above prior all time highs.
Cyber Attack Simulation: Cyber Polygon 2021 Staged Supply Chain Attack!
In what is by far on the weirder side of pieces I came across recently was this article from back in January talking about how the WEF was going to role play a huge cyber attack. If this sounds familiar its because it is, in Oct 2019, the WEF along side John Hopkins and B &M Gates foundation ran the Event 201 global pandemic exercise that was eerily similar to what actually then happened with covid-19, and they ran an even earlier exercise in 2018 called Clade X. This came after Klaus Schwab was urging for a global reset yearly since 2014.
I shot a video outlining and covering it here.
What I don’t like about this is it definitely puts the thought more into the consciousness therefore making it more likely in my opinion but here are a few takeaways from something like this….
Have an exit strategy for your crypto positions
Set times throughout the year (IE quarterly) to audit your own security for not just crypto but your whole digital footprint.
Bitcoin Could Reach $400,000
In a tweet on March 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that this year marked a watershed moment for the largest cryptocurrency and went on to say…
"Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view"
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FTX Exchange
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QuanTower
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A tool like this is valuable because its a lightweight desktop software that connects via api so even when the front end site goes down during volatility, you can still trade. This happens the most with sites like Binance and FTX. They integrate with tons of exchanges in crypto, forex and options space. Videos coming soon!
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None of what I put in these emails is intended to be taken as investment advice, there is no BUY/SELL calls in these emails, nor is this any kind of signals group. There is obvious and inherent risk involved with trading cryptocurrencies or any asset, that must be taken into consideration by the investor. Any and all outcomes are your fault good/bad!