I will be stunned if we don't have a recession in
23 I will not be surprised if it's not larger than the so-called average Garden variety and I don't
rule out but I don't rule out something really bad billionaire investor hedge fund manager and
philanthropist Stanley druckenmiller largely considered one of the most successful investors
in modern history has just put himself on record in a long-form interview on CNBC he says he
would be stunned if a recession doesn't happen in 2023 a recession larger than average and
he just has this feeling that something bad is going to happen listen to this I will be
stunned if we don't have a recession in 23 don't know the timing but certainly by the end
of 23 I will not be surprised if it's not larger than the so-called average Garden variety and I
don't rule out not my forecast but I don't rule out something really bad why because if you look
at the liquidity situation that has driven this um we're going to go from all this QE to QT we're
following an asset bubble we've been doing all this running down on the SBR which is now that's
the Strategic petroleum Reserve it's now below 84 levels even though obviously oil consumption is
much higher we've had a bunch of myopic policies that have actually delayed the liquidity shrinkage
QT has been almost entirely offset by Janet Yellen running down the treasury savings account by the
way pretty amazing policy she could have sold 10 years for under one percent during this time and
said she runs down the treasury savings account so all that has mass the liquidity shrinkage but it
really comes into full gear and she can continue this for a while we can do the SBR for a while
stimulative stuff but by the first quarter of 23 it kind of goes the other way so our Central
case is a hard Landing by the end of 23 but I don't know the I've been wrong on a lot of
things I could be wrong on this but since I do it for a living that's our forecast which
is a recession in 23.
A larger than average recession is not all that Stanley druckenmiller
went on to predict in that interview welcome back everybody to altcoin daily you subscribe
for daily videos keeping you informed on the entire cryptocurrency Market hit the Subscribe
button join our team cryptocurrency could enjoy a Renaissance As trust in Banks fade macro Legend
Stanley drucken Miller has called for a possible crypto Renaissance even as the global economy
extends its suffering let's talk about this druckenmiller said that he thinks that the
U.S economy could suffer from a hard Landing in the medium-term future adding that he would be
stunned if we don't have a recession in 2023 Duke agree with this do you disagree with this
druckenmiller chose not to mince his words as he discussed the Bleak macro picture he said
that the U.S was in quote deep trouble and shared an ominous warning that something really bad could
happen due to the worsening state of the economy however although druckenmiller's commentary may
be enough to scare investors worldwide given his phenomenal track record in playing Market
Cycles he hinted there could be a silver lining for crypto enthusiasts druckenmiller posited the
idea of crypto Renaissance if people start to lose trust in central banks do you think that Stanley
druckenmiller's argument that cryptocurrency is orders of magnitude greater from an adoption and
acceptance a development and integration point of view that if the US and the world has a greater
than average recession the cryptocurrency could see a new to Renaissance well you have to ask
yourself is cryptocurrency orders of magnitude ahead as far as acceptance adoption and stuff
like this I'd argue yes chain link is building a token infrastructure for Swift this is huge a
collaborative proof of concept will allow Swift messages to instruct token transfers if you're
unfamiliar with swift they are the standard in cross-border international payments the xrp Army
has always been talking about Swift working with them bitcoiners have always been talking about
how Bitcoin will make Swift obsolete well Swift is still very much part of the conversation and
the fact that chain link that they're adopting crypto they're adopting chain link rather than
just Fall Into Obscurity this is huge chain link and Swift have announced a proof of concept that
will allow the International Bank Cooperative to transfer cryptocurrencies across almost all
blockchains meaning Swift could soon interact with blockchain assets in a press release blockchain
Oracle Network chain link revealed that a collaborative proof of concept would allow Swift
to instruct token transfers across nearly every blockchain environment chain link added that
this would allow financial institutions to become blockchain capable without confronting
High upfront costs and development challenges the upcoming proof of concept will use chain
Link's cross-chain interoperability protocol ccip a global standard for cross-chain messaging
data and token transfers that was announced in August of 2021.
Listen to the announcement
yourself at smartcon 2022 Sergey Nazareth the founder of chain link with a representative
from Swift talk about this partnership listen to announce that we are working on an initial proof
of concept together with Swift on the use of ccip in the capital markets to enable the
communications and movement of tokens between you know a number of different institutions in
a way that'll accelerate the adoption of DLT blockchains and benefit various institutions all
over the um Capital markets not everybody is aware about Swift but I will I will try to explain
it very quickly so Swift is a comparative is an international Cooperative we run perhaps the
biggest Network in financial services today for Capital markets for payments for effects for trade
we are headquartered in Belgium although we have a sort of operations everywhere we have around
11 000 banks that are connected to Swift today they exchange financial information in the most
secure reliable and scalable way all right so that's that's one just to frame it that the second
piece is that the the the POC that we're doing it's it's it's it's the end of a long story right
I think five or seven years ago was the first time uh Swift and chain link started working together
you were actually one of the first startups that we bet on you want the startup challenge that
we used to have a long time ago and then even before blockchain was something that at Financial
Services had in their minds I don't think at the time nobody was doing anything on blockchain on
Financial Services Swift and chain link worked together on the first POC that we did on bond
issuance and Redemption it was quite successful and that that was maybe the uh the first steps
of this sort of Love Story between Swift and chain link which continues today cryptocurrency
adoption acceptance integration Partnerships is without a doubt orders of magnitude bigger than
it ever has been another one open C partners with Warner Music Group on music nft what does this
mean Well nft Marketplace open C partnering with the U.S record label Warner Music Group means that
artists who signed under Warner Music Group will have their own drop pages on openc in an attempt
to bolster fan engagement and build community according to a Warner Music Group release quote
from opencv president as a massive music fan myself I'm thrilled to work with a partner who
understands the significance of this technology and wants to use it for good to empower artists
to own their fan connections directly musical artists and companies all over are adopting this
technology you'll recall in February Universal Music Group partnered with the entertainment
nft platform curio to drop digital assets for the record label and music streaming giant Spotify
announced in May that it will begin trialing nfts on its platform Spotify nfts are here to stay as
you know Instagram has adopted nft technology you can now connect your wallet to Instagram and
post your quote digital Collectibles or nfts on your insta timeline these are the wallets that
they are compatible with what it would look like for Instagram Mobley coinbase dapper metamask
rainbow trust awesome to see so what are your thoughts Instagram now advertising nfts or as
they call them digital Collectibles but they're working with ethereum and other blockchains it's
great to see cardano edges closer to a make or break point cardano is moving closer to the Apex
of a descending triangle formation which is not a bullish chart pattern that's not what I want to
focus on what I want to focus on is Happy Birthday cardano the cardano blockchain has officially
turned five years old today since the Genesis block five years ago cardano has grown rapidly to
become one of the largest blockchain networks by market cap with an expanding Global community in
other news and again this is big if you realize the potential future of this space Circle expands
its usdc stablecoin support from ethereum to five new blockchains the company also announced a cross
chain transfer protocol to streamline the movement of usdc across networks so Circle the company
behind the world's second largest stablecoin announced on Wednesday that it will soon be making
usdc available on five additional blockchains by early next year usdc will be compatible with
arbitrum Cosmos near optimism and polka dot quote from circles VP of product extending multi-chain
support for usdc opens the door for institutions exchanges developers and more to innovate and
have easier access to a trusted and stable digital dollar usdc should function on arbitrum near
optimism and polka dot by the end of the year the company stated today compatibility with Cosmos
is expected to launch by early 2023 so the writing is on the walls my friend you can see the way
this industry is trending you can make educated guesses for the future of this industry being
multi-chain cross chain Bitcoin ethereum chain link and so much more subscribe to the channel we
keep you updated on a daily basis see you tomorrow
