Bitcoin, Cryptocurrency, Finance & Global News - Market Update February 9th 2020
hi guys
well we're back,above 10,000 it's been a huge week for,global news and crypto news we've got a,lot to get through we are going to get,into it but I just want to start off by,welcoming all the newcomers to the space,I'm starting to get a lot of these,questions again about different coins,and how do i buy crypto in my inbox so,for all your friends and family that,interested or if you are new and you're,watching for the first time you can head,over to Nuggets news.com to value we've,got a range of free resources under that,learn tab there and if you do want to,
accelerate your learning or get my,multiple daily updates our research,reports about crypto and gold and silver,you can become a member and join our,premium services as well now for those,of you that are asking about trading FTX,we are still running in that discount,there's a link down below this is by far,I believe the best place to trade,
they've got a range of products we're,gonna talk about that Donald Trump,product that they added this week and,for the more experienced traders among,you they have got that leverage Bitcoin,options and the volatility index as well,they've recently added an Aussie dollar,on-ramp so you can transfer your dollars,and get into crypto that way as well ok,so into the local news where the Aussie,dollar actually closed at 10 or even 11,
year lows this week down below 67 cents,so the Australian economy is,structurally weak that doesn't really,mean a lot to the investors because the,stock markets at record highs but,obviously there's the fears around the,coronavirus which we're going to get to,in just a sec and for a more detailed,look we did do our update with martin,north this week one of the interesting,things that has to unfold is how the,market is going to cope with a surge of,new listings so the property markets had,this huge rebound but now there's more,people looking to sell at these high,prices so can the market absorb that,we're waiting to see how that supply the,man plays out there but it's the role of,interest rates and banks lending that's,really propping up all the housing,market and assets as well and the RBA,
had the speech this week and they're,basically saying you know they're,accepting the fact that higher,unemployment is countering that risk of,the housing bubble so this is kind of,like what the ECB said that you know you,should hey you should be you know,thankful that you've got a job and not,complaining about negative interest,rates and whatnot so this is kind of the,rock and a hard place that I've been,talking about few years that central,bank's now find themselves in and it's,going to be difficult to get out of now,low interest rates to open up these,generational divides so it's all well,and good for the person that's got five,investment properties and all those,
stocks and they're about to retire,watching all these assets go up but for,the young guy that can't get ahead and I,did a video about this this week that's,been extremely popular so check that,video out the whiteboard session if you,haven't watched that one this is why,you're getting further and further,behind every week this is the,generational divide they're talking,about in this article here now it,wouldn't be another week in Australia,without our banks getting into trouble,and the RBA warning about these tapingo,fees so when you tap your card at the,supermarket often that's not routed,through F pulse it's routed the long way,using Visa and MasterCard so these other,companies and banks can collect these,fees and often the merchant will have to,wear that cost and sometimes it gets,passed on to the customer but either way,five hundred million dollars yeah the,banks are never short of a way to make a,profit there now privacy we do talk,about this a lot on the channel web,browsing histories are being given to,the Australian police under these data,retention powers so it is really,important to know how to keep your,privacy online I'm gonna do a few more,videos about how to protect your privacy,and your data because this is all being,
handed over to the government to the,police Edward Snowden has spoken about,this in the US as well this week federal,agencies are collecting cell phone,location data you know every time your,phone is online it is just peeing around,all this information about what you're,doing and that is all being collected,and stored the US government similar,story to Australia here they want a ban,encryption in the name of protecting,children so obviously it's always in the,name of terrorism or protecting children,I've got to have some sort of cover but,they want to end encryption and you know,encryption is just mathematics you can't,ever stop mathematics and software so,just like in Australia they find out,that this is actually quite difficult to,do in reality now the big story is the,corona virus if you haven't watched the,video I did about how it works,what we need to worry about with viruses,I recommend you check that one out from,a week or two ago but China's reaction,here injecting 174 billion dollars of,liquidity as their markets opens limit,down and if you don't know what that,means,this circuit breakers in stock markets,if a stock goes to have a certain amount,they close the market now they can also,impose these rules where people aren't,allowed to sell stocks now people think,that that is crazy but it happened in,Australia during the GFC the financial,crisis Australia actually locked down,and banned short selling so people that,are betting the market's going to go,down you will add to do that for eight,months and other countries obviously,only have very temporary restrictions,because short selling is a healthy part,of the market it keeps it balanced and,fair values so these markets are they're,a game they're allowed to go up pump,money into them but anything that makes,them go down is is not allowed so the,stats coming out of China the official,toll 800s around 3000 recovered so,that's the kind of ratio we're looking,
out for for des two recoveries and the,total amount around 40,000 now there's,been some other numbers come out this is,where it's hard we don't really know,what to believe and Tencent had this,leak as the title says terrifying if,true so they're saying the total number,might be closer to 150 4000 even up to,you know 25,000 in terms of a death toll,so look that is going to come to the,surface in the coming days how bad it is,but I guess I want the take-home message,for people today to understand don't,worry about the headlines and the,fear-mongering,all you have to think about is if this,is a flu that is spreading around and a,lot of people are getting it what would,happen if the normal flu went around the,world like that if the vast majority of,people had the flu and when you get the,flu you are really sick for not just you,know a day or two you can knock you out,for a week so if every second third,person has the flu other people can't go,out and shop in public the economy slows,down people manufacturing you know it,goes down that supply chain so that's,what we're starting to see now so don't,worry about the disease the name of the,disease or whatnot just think about how,bad it is when these you know if,everyone had a version of the flu and it,
looks like it's very similar,I took the coronavirus actually is so,global air freight is already hovering,its worst years since 2009 and now is,seeing these other knock-on effects from,the corona virus so India have announced,40 billion dollars in fiscal injection,so rather than central bank's printing,money and giving it to other banks we're,now seeing this fiscal stimulus where,governments are starting to spend more,and again I covered that in this video,this week in the u.s. their economy is,still chugging along,ok I'll continue to say it it's the,cleanest dirty shirt in the laundry so,good payrolls earnings and wage growth,is going along ok and that is why so,much money is just flowing into the US,stock market but how did they pay for,that record holiday spending well it,does appear that they are putting a lot,
on their credit card at the moment a,huge month there but either way,Americans are still the consumers in ok,shape now in terms of retail we've seen,the retail apocalypse and all those,store closures as people shop online but,that's now spilled into restaurants and,small restaurants really having a,collapse in foot traffic there so one by,one this is why we're seeing all this,money just flood into these tech stocks,and online companies because people just,aren't getting out in the real world to,shop or to buy food as much anymore now,uber jumped like we just spoke about,it's very popular to get your food,delivered these days now they actually,lost eight point five billion dollars,but either way people are just looking,to the future about how quickly is this,company going,what's the possibilities of other things,that they could do in the future and,this could be a really profitable stock,because the number of users that I've,got and all these companies can continue,to issue these junk bonds and nobody,really cares at the moment I was,thinking about profit or loss people,just love anything with the yield so,record amount of junk junk bonds have,been issued nobody cares people are just,buying everything at the moment,everything is going up now this was a,good report from the IMF actually,calling for vigilance for these very,reasons because there's been just a huge,
huge year and money inflow into all,these different risky,assets around the world this chart here,shows the amount of rate cuts we've had,and remember we're not in a recession,like back in 2008 and 2009 and central,banks around the world are just cutting,interest rates and stimulating the,economy so what is left to do if we,actually enter a recession they're gonna,have to print enormous amounts of money,and take interest rates even lower the,Fed also said that they were worried,about these asset valuations this week,and talking about the coronavirus and,you know climate change presenting these,new risks so we know that they are going,to use these scapegoats and blame,someone else they're not going to admit,that they were the cause of this problem,and here we see central bank balance,sheets you know this is the most,up-to-date version I believe here and,this is around 20 trillion dollars of,money that they've printed the majority,of that since the financial crisis and,that's just making its way into these,asset markets so Robo Bank came out and,said that central banks will save us not,just from the business cycle which was,their job but now they're gonna be able,to save us from climate change and,global pandemic so look this is the,narrative that unfortunately you're,gonna have to get used to because the,mainstream he's going to push it now,Donna Trump did get acquitted in the,Senate in its trial this week so good,news if you're a trump supporter and,obviously we've got the election coming,up now FTX added trump index so you can,bet on the odds of him getting elected,so at the moment that was trading around,62% chance,now other betting markets around the,world have actually got odds higher or,lower so if you're into arbitrage,there's actually an opportunity there,and we do have that discount link down,
our group it is all very very exciting I,hope you guys have thoroughly enjoyed,the bull market this weekend of making,some great trades please hit that like , and I will talk to,you again soon Cheers