What Janet Yellen JUST Said [Stimulus Checks, BTC, Rates]

hey everyone me kevin here here's a

quick update on what a janet yellen sent

today regarding not just a stimulus but

also blockchain and future taxation

let's talk about it first the topic of

stimulus checks

janet yellen made it very very clear and

we've heard this many times before but

she made it exceptionally clear today

that the risk of doing too little

outweighs the risk of doing too much

so when sarah eisen on cnbc during the

interview

asked well what about the fact that

stimulus checks could go people

could go to individuals who are just

going to take that money and invest it

into stocks like the many of you who

follow my channel

well janet yellen said to this yeah that

might be

and it's entirely possible that people

are going to get checks

who don't necessarily need them but

these are

stimulus checks they're designed to

stimulate the economy

so why not get the checks out that we

have planned for right now

and if they go to folks that don't

necessarily need them fine

but we still think they will be

stimulative to the economy

janet yellen here is doubling down on

the belief that this is not

meant to be a relief check even though

we all know that at this point

come on 1400 more dollars is relief it's

not

really stimulus but let's put aside that

argument for a moment and just

look at what janet yellen is saying

janet yellen believes that

this 1.9 trillion dollars the full

package the full

really large package for janet yellen

will be so stimulative to the economy

that will be able to basically

turn on like i like to think of it like

a tesla let's say

you have a tesla that's a dual motor

you've got one motor on the right

one on the left i like to think of the

analogy of right now we're just driving

with one of the motors

and so we're constantly trying to like

fight the the steering going over to one

side and we're hitting the rugged road

off to the side

janet yellen's belief is hey we do this

1.9 trillion dollars

we're going to get that second motor on

and that's my analogy right we're going

to get that second motor on

we're going to be able to drive smoother

we're going to be able to recover

quicker because we can drive faster with

that second motor on

and therefore folks not worried if

people get stimulus checks and they end

up going to people

who don't necessarily need them they

will still be stimulative to some extent

and that's what we want to do

and it's important that we do that

before march 15th because we do not want

any

form of a fiscal cliff and march 15th is

obviously when unemployment

uh expires and this is why we need this

bill to pass after all we had depressing

unemployment figures today

if you add the unemployment claims of

over eight hundred thousand and increase

from last week of about 14 000

and you add the pua the self-employed

folks filing for unemployment

you have just under 1.4

million people filing for unemployment

last week

that's really bad it's really bad and

janet yellen believes that this spending

this extra package

will spur our economy to get moving

faster

she echoes what the congressional budget

office says she says that without the

package

it's going to take until 2024 or longer

to get to full employment

but with this package we can get there

much sooner maybe by 2022

even or 2023 at the latest so we're

really speeding up

how soon we can get back to full

employment

on the topic of bitcoin and this topic

comes up often

the question is is there going to be

more regulation coming from janet yellen

and while janet yellen doesn't come out

with clear policies for bitcoin probably

because

they haven't really determined clear

policies for bitcoin yet yeah i

personally expect there to become some

regulation for bitcoin

but janet yellen's focus is highly on

illicit activity so janet yellen's focus

is

on trying to prevent it it makes sense

she's you know ahead of the treasury

department right

they're trying to collect as much

revenue as they can for the united

states janet yellen's goal is

making sure that people aren't using

bitcoin to evade taxes

and my expectation is there'll be some

regulation

in the tax transparency world

but uh in terms of regulation coming

down and somehow

killing the usefulness of bitcoin i

don't believe that there are a lot of

folks that say i'm not touching bitcoin

until we have regulation because we're

not sure what we're gonna get

and i sympathize with that but i don't

necessarily agree with that i think

bitcoin is is something that we can

invest in as a smaller part of our

portfolio

you know under 10 somewhere around there

as part of our portfolio

and really this is what we would expect

from a regulator that a regulator would

say you know you know we need some rules

around making sure that people aren't

ripping off the government's ability to

collect

taxation as much as obviously you know

many of us disagree with taxation

or just outright dislike taxation this

this is to be expected

and now janet yellen did also weigh in

on the state of the market

and she mentions that price multiples

may be high right now in terms of stock

market valuations but

this is probably because interest rates

are so low and ultimately

should we be worried about the fact that

we're going to hit

new levels of debt or higher and higher

levels of debt

she takes pretty much the same approach

that jerome powell does and says look

we've got such a massive capacity to

keep this money printer

printing we don't have to worry about it

now janet yellen did also touch

briefly on making sure that china

reduces their unfair trade practices

with they'll follow up or they'll

continue rather

trump's sanctions and kind of see how

china behaves over the next few months

not too much of a change there

reiterated that the real unemployment

rate is probably close to 10

at this point and she hopes that we can

have a bipartisan deal on stimulus

within

the next two weeks i personally think

the next two weeks is a little bit of a

long shot maybe three and a half weeks

so i'd say okay yeah

we probably have a deal whether it be

bipartisan or not we'll see

but overall a lot of reiteration here

from janet yellen and generally what

we're looking for when regulators like

jenny yellen or jerome powell talk

is a change or some kind of defining

of their beliefs we don't have any more

defining of her beliefs on china we

don't have any more defining of her

beliefs on bitcoin which really means

in my opinion those two things aren't

heavily on the radar right now

but we do have a defining of her beliefs

on stimulus checks

and that is a defining that who cares if

people get the stimulus checks who don't

need them

we need to stimulate the economy and in

my opinion

this doubling down on the checks whether

or not people need them or not getting

those checks out

is a very very bullish sign that the

biden administration

is all in on these stimulus checks and

it should send a clear signal to markets

that the stimulus package is coming

like it or not we'll see we'll see

knock on wood right we can't hold our

breath for this kind of stuff

but anyway uh if you are by the way

interested in

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i was just in editing on

this video and literally as i was gonna

hit export i get this notification here

uh from jay z in the private stock group

he says anything from yellen's interview

that gave you concern for rising rates

inflation or otherwise and i think i

should address that as well

the answer here a clear-cut no

no concerns regarding inflation no

concerns regarding raising rates no

plans to raise rates earlier

she is 100 all in

foot on the gas i mean she is she's

pushing the pedal to the metal so hard

if she pushes any harder something's

gonna break no i don't think

inflation's coming out the other end

obviously that's my opinion but

no indication here from janet yellen of

any plans to let off

not a single clue that they're even

considering

where's the break like that's it

anything in front of them they're

trying to plow through right now with

the analogy of foot on gas uh so

nothing on uh rates or inflation janet

yellen does by the way subscribe to

jerome powell's inflation beliefs that

inflation may arrear itself

but that it'll go away after it comes up

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