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something big happened this week the first massive change to banking in about a hundred years just happened and it's a massive shift in the banking system and the implications are huge so in this video i'm gonna break down what these changes are what this all means and if you move right now you have a chance to profit from this move before the rest of the world catches on so stay tuned all right welcome back if you're new to the channel my name is mark moss i do these videos because i believe the only real security we have in life is to take responsibility for ourselves to learn how to make money to grow our money protect it so that we have options in life now the world's changing fast now if you agree you like these topics you want to hear more about these topics click the like button right now so more people hear them of course click the subscribe button and the bell notifications are notified every time i put new videos out now before we jump into the topic of this video i just want to thank everybody on this channel for watching these videos i just received my youtube creators award that i've been so excited about for passing a hundred thousand subscribers i got the box i've been waiting to open it up because i wanted to do it on video and i had to wait till i record a new video so here we are i uh gonna open this up right right now and let's take a look and see what's in this box i'm so excited here we go i got a letter for a hundred thousand subscribers big news i got a card and what i've been waiting for let's take a look look at that so excited 100 000 subscribers of course now we're well over 150 000 subscribers so it takes a while to get there the numbers are going fast and it's all because of people like you watching this channel so i really really really appreciate that and i guess i guess you do like these topics so anyway thanks for joining in i appreciate that you're gonna see that sitting on the bookshelf behind me in the coming videos so now if you watch this video you're going to know what it is all right so let's go ahead and jump into the content of this video and we're talking about the banking system we're talking about a change in the banking system the first big change we've had in a long time the banking system as we know it has been in existence uh for for several hundred years right it really started this kind of central bank model this central banking business model that we have started at the bank of england all the way back in 1694 and then we saw the central bank model come to the united states um and then you know this banking system it had its kind of rough start throughout the u.s and really it took hold in federal reserve creation act of 1913. all right now most people watching this probably just take the banking system for granted now of course i've talked a lot about it so if you've been watching these videos you get a little bit better but most people just take these you know take the banking system for granted and fail people really seem to fail to really grasp how it even works all right but the foundational structure of these banks like i said it's been completely changed it happened just this week as we saw for the first time the biggest change in banking since its inception and while this shift might seem subtle for some the ripple effects that are going to happen that will be caused by this tiny shift is going to transform the entire banking system and for the better now i'm not a fan of the banking system so i am super happy to see these types of changes happen now i've seen some of the comments from you that talk about like i talk about too much doom and gloom on this channel and i could see that some of you might think that all right because i typically i highlight a problem particularly in the financial space but i only highlight the problems so we can understand the problem and the opportunity this solution creates so as business owners as investors we make money by solving the needs and problems of others so it's important to understand this and so today i do have mostly all good news because as i said this big shift in banking that we saw is going to be a massive positive change for the country in the world so let's just dig right into it and let's look at what happened and what we're going to do about it but of course first let's take a little trip back in the time machine of course i'd love to go back into history we're going to go back to the creation of the current banking system so we can first understand the problems with the banking so we can then better appreciate the changes that have briefly been made now when the us was first being founded and the banking system was first being formed there was hundreds of banks that were popping up all the time and then these banks they'd pop up all over the place and then they would be going bust so we'd have booms and bust banks would pop up and go bankrupt pop up and go bankrupt over and over and over again and it was happening all the time and the reason why these banks would go bust is because they would take the money and then they would loan it back out they'd loan out depositors money then oftentimes these loans were bad the bank didn't have the money to give back to the depositor so when the depositors came back to get their money all of a sudden the bank didn't have the funds and they would go bust they would go bankrupt of course that's this left the depositors broke so it wasn't a very good situation now to understand this whole period in banking was about a hundred years that we saw before the creation of the federal reserve it's super super interesting at least for me because i'm a history nerd but i highly recommend that you read a book called the mystery of banking by murray rothbard and as a free gift i'm going to give you a link to download a free pdf copy of the book and it's in the description of this video so you can download a free copy of that book and read it i highly recommend it anyway it's a great book now the federal reserve was created in 1913 partly to solve the problem of these banks starting and going bust all the time so they were supposed to backstop the banks so they wouldn't go bust so if they ran out of money the fed could give them money now this way the depositors didn't lose their money and then eventually in 1933 then we saw fdic insurance pop up which then insured the banking deposits uh for the customers now before you start lighting up the comments because i can already hear your keyboard clacking away um just let me say yes i have read the book the creature from jekyll island i have read the book and of course i understand what the fed is really doing i mean if you're new to this channel i get it but if you scroll through the feed of videos you're going to see i have like 100 videos talking about the nefarious the dangerous actions policies of the central bank but that's not the purpose of this video it's not what i'm talking about so now with the federal reserve backstopping the banks the fed was now able to print basically an unlimited amount of money and of course when they increase the money supply it decreases your purchasing power this is why for example you think like the price of houses goes up right houses got so much more expensive but it's not that houses got more expensive it's just that the value of the dollar went down and so it takes more dollars to buy that house today now the dollar's lost over 95 of its purchasing power just since the fed came to power and it's this endless debasement of the currency that's been happening and it's basically it's theft by printing money they're stealing your value they're stealing your purchasing power which is why i'm such a huge proponent of bitcoin because finally we have a digital scarce asset that's decentralized so because it's decentralized it's not controlled by anybody and because it's not controlled by anybody it can't be manipulated by anybody now over the last 11 years it's grown its user base it's grown its security it's uh it's you know it's grown it's value it's actually been the best performing asset over the last 11 10 9 8 7 6 5 4 3 all the way down to last year now i know based off the comments i get on videos whenever i mention bitcoin the number one objection is what if the government bans bitcoin what if the government bans it i hear it all the time well today we have some positive changes to all those problems and questions so what's the big news let's get to it so u.s banking system just gave its first banking license and charter to a cryptocurrency exchange now i'm talking about kraken all right and this is really big news because one it shows the idea of the us shutting bitcoin down has been pretty much diminished right two it fixes the number one flaw with banks which is this fractional reserve banking system where you lose your money and three there's several other things that that really come up because of this and i want to move through them pretty quickly so let's just go ahead and just jump right in so you can see how big this is so first kraken is going to be a full bank they're going to be a bank and they're going to give you all the same services that you would expect for both your personal and your business accounts now this includes you know obviously holding your money storing your money stolen your dollars and your crypto assets as well as handling all your payments in and out wire transfers things like that providing debit cards that can pull from your dollars or your crypto accounts and then even get into securities commodities things like that so a full service bank just like bank of america wells fargo whatever but not just for dollars they're gonna give you the same services for crypto currencies as well store it protect it payments debit cards wire transfers the whole thing seamlessly choosing between dollars or bitcoin or whatever crypto that you want it's going to be pretty amazing now this is a huge positive shift the big change is that kraken is required to hold 100 reserves on cash and digital assets so this means no rehypothecation rehypothecation is basically when they take your asset and they loan it back out somebody else takes that asset and they loan it back out they take it they loan it back out over and over and over again the first four videos on this channel talk about rehypothecation explain that if you want to go back and watch that all right so basically the problems that plagued the banking system before the federal reserve which is that they didn't have the money to give back to depositors is solved because with the banking license that kraken has they have to be they're required to keep 100 of the reserves in-house so no matter what happens um they're not going to be loaning out your deposits all right so there's not going to be any more risk um so that way if a hundred percent of the depositors showed up and said hey i want my money back they'd all be able to get their money back now with traditional banks if one percent of depositors went to the bank and asked for their money it could cost uh cause the banks to actually crash because they don't have the money now another huge development especially over other bitcoin and crypto exchanges is what we call proof of funds so if you have your bitcoin or other cryptocurrencies on exchanges whether that's coinbase bitfinex binance wherever you have them you have no proof that they actually have your assets your coins whatever right you don't have any proof they have them their policies allow them to loan those assets out to other people the rehypothecation i was talking about and there's absolutely no transparency so they could loan it out and somebody else loans it out and somebody else loans it out and somebody else is out it could be five six people away from you and you have no idea you have no idea but with kraken they're fully transparent they're fully audited they're fully verified by the u.s banking system which is pretty strict so you can rest assured that your funds are going to be there they're going to be safe and if this sounds strange to you you might be missing the technicalities of how banks really work so the way banks really work is that when you deposit your money into a bank or your digital assets into an exchange legally and technically you don't own them anymore instead legally you're owed them right so they don't belong to anymore that banking institution wells fargo bank of america etc they owe them to you and that's a big distinction all right now i know it sounds about the same with ode to me whatever but it's a big distinction because if the bank or the exchange if they were to go bust if they were to go bankrupt or if regulators came in to take them over your assets are gone right your assets are gone because they're the bank's assets they're not your assets but with kraken with their new banking license that they have legally you continue to hold legal ownership this is a really big deal so if they go bankrupt if regulators take them over whatever happens the assets have to be returned to the owners to the customers to you so instead of having the assets claimed by a judge during bankruptcy you get them back and this is a really big deal so 100 reserves you're guaranteed that your funds are always going to be there too you own the funds they're not owed to you which i like i said is a really big deal now i did a recent video um where i called game theory you can see it up here where i talked about how a company called microstrategy they made a really big move a really bold move and basically what they did is they they took its cash reserves they're sitting on about a half a billion dollars of cash and they just said hey we don't want to hold this cash anymore cash is losing value it's too much risk to hold the cash so we're going to hold bitcoin instead i talked about that already we did a video go check it out um so about 425 million dollars into bitcoin but the problem is their traditional bank doesn't allow for that right so they have their traditional bank where they have their their payments they're coming in and out they pay their payroll to pay their employees et cetera but they can't use their bitcoin there their bitcoin has to sit over there but now an option to have a bank like kraken where your financial services the dollars the bitcoin they can all be in one account you can have the seamless integration um and you can just automatically switch back and forth pay receive or or receive or spend from either account i mean this is going to accelerate more businesses doing exactly what microstrategy is doing one obviously microstrategy is having massive success their stock price is going to the roof so more companies want to do that of course it's difficult and now kraken's going to make that super easy and now business because businesses can now accept payments in both cash and bitcoin right to their same bank account through their same bank without having to set up all these different things so now they can hold cash reserves in dollars they can hold cash reserves in bitcoin they can provide payroll and salaries in either type of payments some employees want dollars some employees want bitcoin no problem as well as their employees their contractors all those people can also have bank accounts to receive those types of assets and hold those assets so whatever company uses kraken as a bank to send bitcoin or dollars the employees can also set up accounts to receive those as well so i'm talking about a seamless integration a full service provider and this is going to accelerate bitcoin adoption at an amazingly fast rate way faster than what we've ever seen because you know it's still kind of clunky it's a little bit difficult you have to use multiple platforms businesses that can't really use it but that has all changed now this opens up the door for way more businesses way more funds to start jumping in because of these services more people are going to jump in because of the ease the security that's provided like i said you really can't trust these exchanges with your with your coins i don't i don't recommend it but with kraken because they're verifying that they have your funds because they're regular by banking in ustry i think it's a really really good option now the shift of banking and bitcoin all coming together it's a this is a very pivotal point in time right now so remember this time it just happened this week it's a very pivotal time and i believe that the months and the years ahead are going to be super super fast and really exciting and basically you have an edge right now all right you have access to this information before the general public does i mean sure people that are paying attention to bitcoin get it but what percentage of the population is that it's very very very small so you have the chance right now to front run this you have the chance to get in on this before the rest of the world starts to figure this out this is a massive shift and you can get bitcoin before the masses and the businesses start moving in like microstrategy's doing now let me know what you think in the comments does this approval by the banking system give bitcoin more legitimacy yes or no does this help calm your fears of the government banning bitcoin now that the federal reserve has extended a banking charter to the bitcoin bank let me know what you think all right that's what i got for you today leave me a comment and let me know give me a thumbs up on this video if you like it if you don't like the video that's okay give me some thumbs down but leave me a comment and let me know why and that's what i got for you today to your success i'm out [Music] you