last week thousands of soldiers were deployed to protect three thousand of
the world’s most powerful people who were gathered in Davos Switzerland they
were there for the world economic forum’s annual conference to discuss the future of the planet without input from
us plebs of course the event featured dozens of discussions which revealed what the elites are
planning for 2023 so today I’m going to summarize the most important Davos
discussions explain why they’re so significant and tell you exactly what it all means for you this is a video you do
as with all previous Davos conferences the event began with a brief speech from
World economic Forum or weft founder and chairman Klaus Schwab who’s been likened
to a real-life Bond villain he certainly sounds a lot like Stromberg from the spy who loved me and the
reflective jumpsuits worn by the henchman sorry Swiss soldiers guarding the event only made the whole vibe that
much more accurate maybe that was deliberate who knows anyway Klaus started his speech by
revealing the theme of this year’s Davos conference which was quote cooperation in a fragmented world
Klaus went on to describe all the different crises the world is facing in
a way that sounds like they were intentionally caused by the weft I’m not
exaggerating Klaus went on to imply that these crises Were Somehow part of his Infamous fourth
Industrial Revolution and said that the wefts so-called stakeholders need to turn these crises into opportunities
note that the wefts stakeholders are its members all famous and powerful people
after his speech Klaus introduced Alam Bessette the president of Switzerland
who revealed that the quote post-war order is experiencing its greatest
crisis for context the post-war order is a reference to the aftermath of World War
II where the United States and its allies gradually took over much of the world Allah also said that populism around the
world is increasing due to the rising cost of living and said that quote this
growing inequality creates issues for us consider that us means the wefts
stakeholders now I take this as a tacit admission that the weft knows it is
becoming increasingly unpopular on that note many headlines highlighted the fact
that the relevance of the weft appears to be fading as a result of this unpopularity it’s believed that the
wefts unpopularity is why some powerful people who had previously attended the
Davos conference decided not to come this year glad they got the message
now the discussions at this year’s Davos conference were supposed to cover five
key themes the climate and energy crisis the economy new technologies changing
the way we do work and addressing the current geopolitical risks not
surprisingly these weren’t exactly the actual themes based on my assessment of
the discussions most of them focused on a different set of key themes including metaverse control online censorship and
financial centralization so I’ll be focusing on these themes today along
with cryptocurrency because I know you all want to hear what the weft said about that note that you can find our
coverage of last year’s Davos conference in the description I suggest checking it out after this video to see how much it
contrasts with this year’s DeVos conference it seems that the speakers were a lot tamer in their rhetoric due
to public scrutiny of the weft more about that later now let’s start with the metaverse which
had three discussions devoted to it the most significant of these was about the
wefts so-called Global collaboration Village a metaverse for the elite which
is being built by the weft in partnership with Microsoft and consulting company Accenture
the discussion about the Virtual Village featured Klaus Accenture CEO Julie sweet
and Microsoft president Brad Smith the discussion was moderated by Adrian Monk
a managing director at the weft now this is interesting because almost all the
other discussions were moderated by the mainstream media Klaus started off by
saying that the wefts metaverse is a quote dream come true because it allows the weft to focus on a quote bottom-up
instead of top-down influence this immediately reminded me of how the
weft is using young global leaders and Global Shapers to ensure
the great resetoccurs speaking of which most of the people in the audience who are asking questions during these panel discussions
were young global leaders and Global Shapers according to Klaus there are
more than ten thousand of them working their ways into positions of power and some quite likely near where you live
more about that in the description moving on Klaus went on to reveal that there’s
already a Consortium of more than
80 so-called Village Partners which of course includes lots of other unelected
and unaccountable international organizations Klaus finished by saying that he hopes The Village will increase
the impact of the wefts agenda the next ago was Julie and she said that
Accenture expects the value of the metaverse to grow to more than one
trillion dollars by 2025. this is primarily because of adoption by
Enterprise and Industrial focused firms that will use the metaverse to train employees which to be fair is pretty
awesome what’s not so awesome however is that Accenture also hopes that the metaverse
will become a key component in the education of children now call me crazy
but I don’t think putting children in Virtual Worlds from a young age is a
good idea especially if the curriculum is coming from a weft Affiliated institution in any case Brad was the
last panelist to a pine and he spent most of his time talking about how he hopes The wefts Village will have no
borders and will onboard essentially everyone on the planet this made me wonder whether the wefts new end game is
to push everyone into its dystopian metaverse funnily enough one of the audience questions was about how the
weft will address the fact that nobody trusts institutions like the weft and
will therefore view the village with suspicion Klaus said that the weft will ensure that the village is governed to
maximize the safety of its inhabitants yikes now the second metaverse discussion was
titled quote how to build a metaverse for all it featured moderator Kirsten
salier the wefts head of editorial strategy AKA propaganda Kathy Lee the head of the wefts shaping
the future of media initiative suyat the co-founder of animoka Brands and Huda
al-hashimi Deputy Minister for strategic Affairs of the United Arab Emirates
Kathy started off by revealing that the weft is working with over 100 companies
to make the metaverse accessible to everyone she revealed that the wefts metaverse
initiative was launched last May and it focuses on the quote governance of the
metaverse and the metaverse economy if that wasn’t concerning enough Kathy then
explained that the metaverse is not the wefts end game as far as digitization goes she failed to explain what exactly
the wefts endgame is in this department and I suspect it’s to have microchips in
all of our brains so that we can all be controlled in the name of safety what’s amazing is that Sue repeatedly pushed
back against the excessive control the weft is not so subtly seeking in the metaverse he warned that if property
rights in the metaverse are not guaranteed then nobody will invest in it or use it
this is something the weft and its Affiliates don’t seem to understand as
for Huda she likewise seemed opposed to the idea that the metaverse requires a
close partnership between the public sector and private sector she argued that Regulators should be more like
referees and that it should ultimately be up to the communities to set more specific rules and standards Huda also
expressed concern about the effects that spending too much time in the metaverse could have on Mental Health this ties
into what I said a few moments ago about it not being a good idea to stick children in the metaverse from the
moment they have the capacity to put on a VR headset now whereas the second panel discussed
how to build a metaverse for all the third panel discussed how to actually build the metaverse this panel was aptly
titled a new reality building the metaverse and it featured the following personnel Nicholas Thompson the CEO of
mainstream Media Company the Atlantic as moderator of course Chris Cox the chief
product officer of meta Enrique Loris the CEO of HP Paula ingebyer the Rwandan
Minister for information and Neil Stevenson the author of snow crash who coined the term metaverse in that very
book now to be honest this panel discussion was actually pretty good in retrospect I
think it’s because it wasn’t scripted at least not to the extent of the other panel discussions I noticed that
panelists on other discussions were constantly checking notes perhaps they were instructed to stay uncontroversial
regardless Neil was the first panelist to speak he explained that his idea for
the metaverse came from Imagining the cost of video game Hardware coming down exponentially he revealed that he’s
working on an open source metaverse blockchain and insisted on decentralized
and interoperable digital IDs Chris was the next to take the mic and he revealed
that the reason why Graphics in the metaverse suck is because of concurrency issues in plain English it’s hard to
have good graphics in a virtual world with thousands of people and apparently there’s a limit to how much better
Hardware can help not surprisingly Chris pushed back against Neil’s claims that
the metaverse should be open source and decentralized arguing that centralization is required for privacy
and safety surprisingly Enrique seemed to side with Neil probably because meta is building
metaverse Hardware following Paula’s pondering about all the wonderful things the metaverse could
be used for the weft’s own metaverse Mastermind Kathy Lee randomly appeared
on stage to reveal that the panelists were a part of the wefts so-called defining and building the metaverse
initiative that I mentioned earlier what a way to ruin an otherwise positive panel discussion
now when it came to the wefts discussions around online censorship there were also three panels and the
first two appear to have taken place back to back the first panel was bluntly titled quote
the clear and present danger of disinformation and it featured everyone you’d expect
the moderator was former CNN anchor Brian stelter who was fired last summer for being so unpopular the panelists
were Arthur Greg salzburger the chairman of the New York Times Vera Jova a vice
president at the European commission who was instrumental in putting together its recently passed censorship laws
Gene Borgo the CEO of interview and a U.S politician named Seth Moulton
Bryant started by telling everyone to tweet about the weft with a certain hashtag to ensure that quote real
information gets out there then Arthur admitted that disinformation lies at the
core of every problem the weft is trying to solve in other words stop repeating
what we say with additional context Arthur went on to admit that distrust in
institutions is the most dangerous threat to the extreme centralization the weft is seeking I’m paraphrasing of
course Arthur also stressed that the only way to fix the issues of disinformation and
distrust are for governments to partner with mainstream media if you watched our video about online censorship you’ll
know that’s basically what the EU is doing with its Digital Services Act in the panel Vera explained that
removing content in the name of disinformation would be wrong which is why the EU is working with big Tech to
make it impossible to find instead Vera also advocated for quote pre-bunking
which is where you prevent or discourage people from posting anything that goes against the official narrative
she confirmed that the eu’s regulation applies to hate speech and even admitted
that 90 of content removal requests are from governments let that sink in ninety
percent of content takedown requests on social media come from those in power
Vera’s comments seem to have shaken Seth who warned that the EU may be going too
far with its online censorship aspirations this says a lot considering Seth is also in favor of online
censorship in the name of disinformation he just seems to be more concerned with disinformation affecting his voter base
after a few irrelevant comments from Gene Arthur asserted that chat GPT will
make disinformation worse this is simply because there will be too much content
and too many claims for any person or computer to moderate Arthur’s solution
is to give the mainstream media even more powerful tools it was at this point that Jean made a
very relevant comment and that’s that the weft and its so-called stakeholders should focus on influencing local media
this is because people trust local media more logically then local media must be
subservient so that the West’s agendas can be achieved if that wasn’t Sinister enough Vera added that the eu’s Digital
Services act will make it next to impossible for fake news outlets to receive any funding Arthur somehow took
it a step further by saying that children should be trained from a young age to detect fake news you honestly
can’t make this stuff up the panelists essentially concluded that the only solution in the short term is to promote
information from trusted sources and suppress everything else this is exactly
what the eu’s Digital Services act will do in the event of a crisis it’s awfully
convenient that there’s no shortage of crises to choose from now the second panel discussion about online censorship
was titled quote disrupting distrust and it featured A peculiar lineup
the moderator was Kathleen Kingsbury an opinion editor at the New York Times panelists included Angela Williams the
CEO of United Way Richard Edelman the CEO of a company that tracks trust Salah
Goss VP for social impact and MasterCard and Helena Laurent the director of
consumers International Kathleen started by revealing that the weft is explicitly quote trying to
increase trust in stakeholders by now you’ll know that this is code for the powerful individuals and institutions
that make up the world economic Forum it seems that our distrust made its way to
Richard’s database because he revealed non-governmental organizations like the weft cease to be the most trusted
institutions after the pandemic began Richard claims that the decline in trust
is due to economic conditions which is insane and demonstrably false if you watched our aforementioned video about
online censorship you’ll know the decline in trust is due to unprecedented pandemic restrictions and their shifting
justifications economic conditions I mean really the stock market was rallying and everyone was getting stimi
checks Richard went on to reiterate that trust has gone local meaning that most people
trust their local institutions more than National or International ones he then
emphasized that economic inequality is driving distrust this makes me wonder if
this is why the elites want Universal basic income so badly now unfortunately
Ubi is a topic for another time but if you want to know my take you can check out our video about worldcoin the crypto
project that’s scanning the eyes of people in developing countries in exchange for tokens that will probably
be worth close to nothing once they can actually cash them out anyhow Angela
revealed that United Way has been actively engaging with communities to understand why there’s so much distrust
oddly enough she couldn’t communicate where exactly the distrust is coming from this tells me that it’s something
she either can’t say or the folks at the weft don’t want to hear meanwhile Salah
revealed that mastercard’s focus on diversity and inclusion is to make minority groups feel like they can trust
the payments company this is pretty disturbing because it suggests that the entire corporate diversity and inclusion
pitch has an underlying profit incentive later in the discussion Richard made the
Bold claim that the decline in trust in institutions like the weft is due to right-wing propaganda this is a bit odd
because by that point the other panelists had made it clear that trust is lowest in minority communities which
are not right-wing by their own assessment now the question period was particularly revealing the first
question was something along the lines of quote right-wing entities are criticizing ESG investing which is
causing distrust of big business big businesses are essentially the only trusted institution left and they’re
required for the wefts agenda what do we do the panelists said the answer is to
double down on ESG and to try and build trust locally by infiltrating and influencing local institutions
presumably with the help of young global leaders and Global Shapers ironically
the next question came from a global shaper based in Melbourne Australia she
asked the panelists what they can do about increasing the Trust In institutions that do not want to be
transparent now I want to say that this is a subtle shot at the weft but if it
was well I reckon that young lady wouldn’t have been there in any case the panelists didn’t have a clear answer
one of the last questions came from a chap who seemed to be passionate about crypto that’s because he said that
cryptocurrencies are trustless and asked whether there was a way trust could be improved with crypto
this is where Helena made her only meaningful contribution you can’t fix
trust with tech I suppose it all depends on who makes the tech but that’s yet
another topic for another time anywho the third panel discussion about online
censorship was innocently titled quote tackling harm in the digital era the
moderator was pranjal Sharma editor at business world the panelists were Melanie doors the head of the UK’s
Communications regulator Vera gerova the censorship tsar of the EU Petra de
Sutter the Telecommunications Minister of Belgium and Julie Inman Grant Australia’s e-safety commissioner
naturally most of the panel focused on online censorship in the name of Online
safety there was no shortage of contradictions such as anonymity online should only be for people in oppressive
countries this is contradictory because forcing people to complete kyc to use the Internet is well oppressive
there was lots of talk about quote virtual seat belts and quote safety by Design Julie revealed that she used to
work at Twitter’s safety department this isn’t something to be proud of given the recent bombshell reports about Twitter
safety working with governments to censor information online Julie also revealed that she’s working
on establishing e-safety Commissioners around the world and that Canada will be the next country to sign on this is not
surprising given that Canada is in the process of passing the most restrictive online censorship laws Julie says these
Commissioners will work together and you know I messaged an Aussie mate of mine and he can’t say he remembers
voting to have an e-safety commissioner that’s the weft for you and speaking of
which Vera then revealed that the eu’s definition of hate speech includes any
criticism of ngos like the weft as well as judges it’s almost as if the EU is
anticipating lots of lawsuits against excessive censorship by its Digital Services act and will ban any criticism
of the eu’s bias legal processes there’s not much to add from the other panelists
and I honestly don’t need to you get the point now for financial centralization
there were quite a few discussions that fell under this broad umbrella so for now I’ll focus on four and the first was
about everyone’s favorite topic Central Bank digital currencies or cbdc’s it
seems that even the weft is aware that cbdcs are unpopular this is because the
panel was titled quote in the face of fragility Central Bank digital currencies
the discussion was moderated by Neha narula who is the director of mit’s
digital currency initiative which recently published a report about its progress in developing a digital dollar
with the
FED other panelists included Leva mostre the CEO of euroclear Le
Setia khanyajo the governor of South Africa’s Central Bank Javier Perez tasso
the CEO of Swift and the ayaron the governor of the Central Bank of Israel and Julio velarde governor of the
Central Bank of Peru Neha started by basically offering her condolences to
Julio over the fact that peruvians had been violently protesting against their government for months Julio gave an
awkward thank you probably because Central Bank policies may have had an impact on the things that Peruvian
citizens are protesting about Julio went on to reveal that the government has been working closely with
the IMF to develop a
cbdc which is odd given that the bank for international settlements or bis is the international
institution that’s been working with most other central banks on cbdcs then
again there have been a bunch of independent cbdc trials such as project
Icebreaker Amir explained to the panel that project Icebreaker was the first cross-border retail cbdc trial that was
completed with the help of the central banks of Norway and Sweden along with Israel what’s interesting is that Amir
admitted that it’s been very hard to find people to build cbdc technology
this is interesting because I’ve long speculated that the people who are capable of developing digital currencies
are building cryptocurrencies and not cbdc’s that’s simply because they can
make a lot more money building cryptos and will also be worshiped rather than hated by the average person
what’s hilarious is that Neha straight up asked Javier why central banks need
the Swift payment system when they can seamlessly send transactions using cbdc’s Javier said that it’s a lot more
complicated than it seems and that Swift has been working with the bis on optimizing cbdcs for those unfamiliar
euroclear is similar to Swift rather than talk about the technological
aspects of cbdc’s lever focused her defense of financial intermediaries on liquidity she explained that Atomic
swaps with cbdcs will have lower liquidity than standard cross-border payments fascinating
as for La secha all he could say was that cbdc’s seem to be a solution in
search of a problem his comments actually made the crypto headlines and he’s not wrong
everything that cbdc’s do stable coins could do better which is why central banks seem to be interested in them of
late note that the weft has been a big proponent of this so-called synthetic
cbdc setup more about that in the description now the second panel about
financial centralization was titled what next for monetary policy if you’re
wondering why I’m including this panel discussion under Financial centralization it’s because central
banks influence interest rates and the FED has been crashing the market with rate hikes
the moderator was jumana beseche of CNBC the panelists were Larry Summers from
Harvard Swiss National Bank chairman Thomas Jordan Kirsten brathan the CEO of
Norway’s largest Financial Services Group and our nervous friend Julio villade the governor of the Central Bank
of Peru Thomas started by saying that the Swiss National Bank is committed to
Bringing
inflation back down if that rhetoric sounds familiar that’s because fed chairman Jerome Powell has been
saying the exact same thing this might have something to do with the fact that central banks work together via the bis
like many Market analysts Larry claimed he knew inflation was coming since 2021
and believes that it’s going to continue for quite some time what’s interesting is that the panel seemed to focus on
Larry this might have something to do with the fact that he’s a former U.S treasury secretary and was pipped to the
post of Fed chair by our old buddy Jerome Powell Larry was asked about whether central banks should change
their two percent inflation targets Larry firmly responded no because investors will know that if it’s been
changed once then it can be changed again this will undermine The credibility of central banks and lead to
hyperinflation what’s funny is that Larry said interest rates will remain higher for longer because of persistent
inflation not a moment later Thomas said that the Swiss National Bank is prepared
to bring interest rates back to negative territory at a moment’s notice seemingly pivoting on stage in real time
jumana took this contradiction as an opportunity to point out that the Swiss National Bank had posted a record loss
of a hundred and forty three billion dollars last year for context the Swiss National Bank holds a broad basket of
assets including U.S stocks Thomas argued that it would have been worse if
it had held U.S bonds that’s because in 2022 U.S bonds saw their worst year
since the late 1700s which is absolutely Wild meanwhile Julio revealed that Latin
American central banks will probably be pivoting soon this is because they were the first to raise interest rates and
they did so aggressively Kirsten didn’t add much to the conversation and admitted that she felt
a bit under qualified compared to the other panelists that’s pretty impressive because humility is a rare trait of
these so-called stakeholders now the question period was likewise unimpressive which is unfortunate
because the questions were actually pretty good the one that stuck out to me was whether there’s a danger of having
interest rates too low or in the negative for too long nobody on the panel could provide a clear answer so
much for the experts this ties into the third panel about financial centralization which was
titled quote staying ahead of a recession the discussion was moderated by Bloomberg editor Francine Lacroix the
panel featured Douglas Peterson’s CEO of the s p Axel Lehman chairman of Credit Suisse Laura Char chairwoman of the Hong
Kong exchange and Mario centeno governor of the Central Bank of Portugal I remember Laura from last year’s Davos
conference she was on an ESG panel with other ESG ideologues like Bank of
America CEO Brian Moynahan discussing how they’re not going to give any funding or provide banking services to
any companies that don’t comply with ESG the discussion underway axel said that
he sees a multi-polar world emerging Laura said that China’s reopening will be bullish Douglas said that there will
be a mild recession Mario said that inflation is coming down but central banks will continue to fight it he also
said that a tight labor market is why the recession will be mild not surprisingly the panelists all
promoted ESG as the obvious answer to every possible economic issue even though it caused the energy crisis
you’ll know this if you watched our video about ESG and cryptocurrency and you’ll also know ESG investors care the
most about G for governance AKA control in terms of risks Douglas said there are
credit risks I.E some big institutions could default on their debts because of higher interest rates Laura said there
are lots of geopolitical risks and Mario agreed axel said the biggest risk of all
is social unrest in case the Swiss president didn’t make that clear enough now the fourth panel about financial
centralization was similarly straightforward it was titled quote financial institutions innovating under
pressure and it was moderated by CNBC anchor Steve Cedric the panelists were
Ronald o’hanley the CEO of State Street Lynn Martin president of the New York Stock Exchange Dan Shulman the CEO of
PayPal Mark susman the CEO of the Bill and Melinda Gates Foundation and Muhammad al-jadan Finance Minister of
the Kingdom of Saudi Arabia Steve started by taking a subtle dig at El Salvador over its
Bitcoin adoption
before giving the stage to the panelists Lin was the first to speak and literally said that extreme Financial
centralization is required to protect against unwanted volatility hence why I
included this panel under Financial centralization the next to go was Mark who was wearing
a pin that many have associated with the wefts great reset agenda in reality the
pin is a reference to the United nations’s sustainable development goals or sdgs which are being pushed by the
private sector via ESG with the help of the wef more on that later now I must
admit that Mark spoke as if he was outright instructing all the institutions present as to what they
ought to do regarding the economy the only thing more cringe was watching Dan push the talking point of blockchain not
Bitcoin an outright saying that the financial system must control this technology Ronald took a different route
because he shed light on the fact that nobody really knows how much debt there
is in the financial system or who holds it a little later Ronald was asked a
question by a young Global leader in the audience about sustainable Finance one of the many ESG synonyms Ronald said
that ESG investing has been hard because most environmentally conscious companies are Grassroots startups that can’t
receive massive amounts of funding Ronald also said that Wall Street wants to quote securitize national resources
this is code for taking possession of all Land and Sea turning it all into stocks and trading them on stock markets
Lin confirmed that natural resources will soon start trading on stock
exchanges thanks to the SEC pure evil okay let’s lighten the mood a little bit
shall we there were two panel discussions related to cryptocurrency the first was titled quote finding the
right balance for crypto Bloomberg News editor Stacy Marie Ismail was the moderator and the panel featured
the following not so crypto personnel class not president of the Dutch Central Bank and head of the Global Financial
stability board marade McGinnis the EU commissioner for financial stability Brad garlinghouse the CEO of Ripple and
Omar Sultan al-olama minister of digital economy of the United Arab Emirates
the discussions were predictably anti-crypto what was not predictable
however was that even the moderator would be vocally anti-crypto Stacey Marie started by asking how it’s
possible that FDX was licensed in Dubai and Omar had to explain that there are
multiple levels of Licensing Murray explained that the eu’s upcoming Mica
regulations will not stifle Innovation but prevent crypto from becoming a wild west class said that crypto companies
are located in quote sunny places with Shady people and said that the FSB would
be publishing crypto regulation recommendations by the summer as we’ve seen with the financial action task
force or fat F the regulation recommendations made by these unelected and unaccountable international
organizations are anything but failing to fall in line typically means that the
institution or country faces sanctions or restrictions from Western entities at
the same time Brad started blasting Stacy Marie for implying that the UAE has a quote light touch when it comes to
crypto regulation Stacy Marie doubled down on her anti-crypto rhetoric by asking Omar whether it was true that 35
percent of people in the UAE were affected by the collapse of FTX Omar had
no idea where that statistic had come from so the mic was temporarily turned to class who was asked whether the FSB
is keeping track of illicit activity in crypto Stacy Marie followed up with Omar
by asking him why it is that crypto criminals try to escape to the UAE Omar
was stunned Brad butted in to point out that FDX was like Bernie Madoff scheme
which had been reported to the SEC before it collapsed but the SEC ignored the warnings for some unknown reason
note that FTX founder Sam bankmanfried had met with SEC chairman Gary Gensler
on more occasions than with any other regulator class added to the tension by saying
there’s a need for Global crypto regulation especially because the crypto industry will actively resist regulation
according to him I would invite class to find an industry that’s welcoming of
Regulation that’s not controlled by a monopoly that’s paid off politicians after Stacy Marie admitted that she
didn’t hold any cryptocurrency it was time for the question period the first question came from someone at chain
analysis who asked class whether the fsb’s figures for illicit activity in crypto were being overstated plus
implied that chain analysis is understating crypto crime the panel ended with Stacy Marie getting
into a spat with Brad over the collapse of the crypto Market she asked when the crypto Market could recover in an
intimidating way that motivated Brad to highlight that many tech stocks have crashed more than some cryptos yet you
don’t see calls for regulation there now you know why there were almost no crypto
headlines about the only purely crypto discussion at Davos coindesk was the
only crypto media outlet that covered this discussion and somehow painted it in a neutral light
speaking of which the second crypto related panel discussion was moderated by coindesk Chief content officer
Michael Casey the discussion was titled quote tokenized economies coming alive and it appears to have been hosted in a
sub-optimal venue though it featured the following surprisingly cryptocentric panelists
Jeremiah CEO of usdc stablecoin issuer circle
CEO of bitcob capital Teemo haraka finland’s minister of transportation and
Beryl Lee the co-founder of yield Guild games more about those guys down in the
description it’s definitely an interesting crypto project now I couldn’t help but notice Jeremy looking
over at Teemo wondering what the hell a Finnish Transportation Minister was
doing on a panel about crypto-related tokenization this is because Teemo admitted that he’s not that familiar
with crypto or tokenization but was eager to learn well Teemo I know a
YouTube channel that can definitely help you with that now as you might have guessed Michael spent quite a bit of time going back and
forth with Jeremy Jeremy just explained how circle is tokenizing the most important asset of all which is of
course the US dollar Michael went on to press Jeremy about programmability and
other stuff the weft seems to love jiriot spent his limited time in the spotlight talking about how Thailand is
working on a wholesale cbdc among other mostly irrelevant things and Teemo
randomly started calling for clearer crypto regulations and got on with Jeremy about digital ID note that circle
is working on digital ID with its verite platform more about that in the description
Jeremy also saw eye to eye with Teemo about regulatory Clarity for crypto and
the whole time Beryl was just sitting there watching The Exchange in awe during The Question period Jeremy was
asked about non-custodial crypto wallets and said something that’s arguably very incorrect Jeremy said that when you have
a stable coin or digital ID in a non-custodial wallet then you truly own both assets this is not true because
stable coins are centrally controlled and can be frozen by stablecoin issuers at any time digital IDs are likewise
connected to government-issued IDs which can be revoked anyway the panel ended with Chariot
talking about how he’s been talking with Bill Gates about how to reduce carbon emissions which is all you need to know
newsflash over consumption is causing all the environmental issues we’re seeing and over consumption is being
incentivized by inflation due to money printing if we had a hard money system
that incentivized people to save rather than spend then overconsumption would come down and all the environmental
issues the elites claim to want to solve could eventually solve themselves without having to pass a single law or
regulation or ESG mandate more about that in the description
now I know this video is getting long but there are two more panel discussions that I absolutely must cover the first
was titled quote global economic Outlook is this the end of an era it was the
final panel discussion at Davos and it was also the longest don’t worry I’ll keep it short
the panel was moderated by CNBC anchor Jeff cutmore and featured some of our
favorite overlords crystallina georgieva managing director of the IMF Christine
Lagarde president of the ECB Bruno Lemaire a French Finance Minister Larry
from Harvard and karoda harohiko governor of the bank of Japan Jeff started off with a colorful
overview of each panelist for christalina he said she’s concerned about a de-globalizing world for Bruno
he said he’s concerned about green energy for Christine he said she is staying the
course on fighting inflation for coroda he said he’s fighting the bond market and for Larry he said he’s the former
treasury secretary I suppose that’s exciting enough on its own
crystallina started by saying that the economy isn’t doing nearly as badly as the IMF had initially projected she said
that China reopening should lead to a Resurgence in its economic growth but could also cause inflation repressures
crystallina said that the
Ukraine war could be a risk as well but mostly to Europe she then revealed that the
reshoring of Supply chains that we’ve seen as a result of the pandemic and the war in Ukraine is going to do damage to
Global GDP but this damage can be contained if countries continue to work together as much as possible recall the
theme of this Davos conference Larry urged central banks to continue fighting inflation and warned that the last part
of the inflation battle is the most painful and difficult he also said that Global integration should never come at
the cost of social disintegration which is probably the only thing I agreed with from all the Davos discussions
Christine confirmed that the ECB will continue to fight inflation and amusingly said that 2022 was a quote
weird year she urged governments to stay the course on the digital and green
transformation that the weft stakeholders pushed through with their pandemic restrictions more about that in
the description now Christine also casually said that China’s reopening will kill lots of
people but it will grow the economy so it’s fine she then proceeded to cross her arms after realizing what she had
said out loud they truly put the best brightest and most compassionate on display at the world economic forum
Kuroda said that the bank of Japan will continue to fight inflation while aggressively stimulating the economy
this makes zero sense but the chap is old and about to retire so I reckon we
can cut in some slack note that coroda is set to leave on the 8th of April we
could see lots of volatility on that date Bruno was the polar opposite of coroda
in his passion he essentially said that Europe shifting its Reliance from Russia’s gas to China’s Renewables is
stupid as such Europe should start to produce its own wind turbines solar panels and batteries and be very
protective of these industries for context U.S President Joe Biden recently passed the deceptively named
inflation reduction act which creates huge incentives for green energy companies to relocate from Europe to the
United States this has angered the EU which responded by passing the digital
markets act that hurts big Tech profits Bruno’s passionate speech took the
moderator by surprise and he told Bruno to his face that he had made the audience uncomfortable with his Europe
first rhetoric it really was a sight to behold it also revealed which interests
are in the control of the weft and just how divided different regions are so
much for cooperation in a fragmented world eh crystallina went on to tell the
Europeans on the panel to provide more funding to Africa money which Europe doesn’t exactly have at the moment this
caused coroda to ask crystallina to send more IMF money to Asia which is a subtle
sign that the region is desperately short on US dollars because of rising rates Larry warned about unseen debt in
the financial system Christine said she’s worried about being pushed to raise rates too much Bruno called for a
ceasefire in Ukraine officially making him the most unpopular person in the eyes of the panel after all the only
answer to war is more war so long as the people in power continue to find ways to
profit now the last panel discussion from Davos I want to summarize was actually a speech by Antonio guterres
Secretary General of the UN this is because the weft is effectively the
private sector arm of the UN and has been pushing the un’s sdgs through ESG
Antonio’s speech was therefore the most important of all so this speech began
with a brief introduction by Klaus who welcomed his Excellency and said the U.N
is needed now more than ever Klaus said that the weft is committed to ensuring that the un’s sdgs are
implemented which confirmed my long-held suspicions that the weft is the un’s private sector arm then Antonio took the
stage he started by saying that the UN needs cooperation not fragmentation to
achieve the sdgs he said that the pandemic response was a failure of compliance no doubt he admitted that
it’s hard to find Solutions at the best of times and we are not in the best of times Antonio then said something that
made me seriously optimistic about the future quote this is undermining
everything in other words the UN and the West’s plans are falling apart before
their eyes and they’re desperate not to have a repeat of the un’s Millennium development goals or mdgs which failed
because of 2008. Antonio proclaimed that the East and West are in the process of
separating creating two separate systems two separate currencies and even two separate internet
he warned that the weft stakeholders must avoid the quote thucydides trap for
those unfamiliar the thucydides Trap is a political Theory which states that a massive war is inevitable when an
existing power is being challenged by a rising power in this case the United States being challenged by China
now back to Antonio who went on to call for additional funding for sdg compliance and even called for a new
debt architecture to ensure the financial system doesn’t collapse as a result of all this funding in his
follow-up interview with another weft puppet Antonio admitted that the private sector is slipping away he even
instructed the politicians present to ignore what their populations think about them he said that his time in
politics had taught him to ignore the opinion of the people and do what is right he said social media must be
leveraged as a tool to achieve the un’s vision in case that wasn’t already clear enough the cherry on top was Antonio saying
that this is the worst it’s ever been in his lifetime by that he means that this
is the least that the average person has listened to the people in power it’s the least that the private sector and public
sector have complied the great reset is falling apart in real time so in
conclusion then what does all of this mean for you well in short never stop
seeking the truth and never stop sharing it they’ll try and take control by putting us in de facto digital prisons
with cbdc’s and digital IDs but Alternatives will exist and they will prevail if they’re promoted adopted and
crowdfunded I’m confident that cryptocurrency will play a role in this decoupling between the average person
and the corrupt institutions that rule them success is by no means guaranteed but the pendulum finally seems to be
swinging in the direction of Freedom the wefts self-confidence is waning as its
stakeholders realize how out of touch they are with Ordinary People Like Us so let’s keep that momentum going