What's going on? Goonies Welcome to the Mad Core show And man oh man do we have a lot to talk about today. namely why the stock market got its balls kicked in. The answer to that is the Fomc meeting results and what Jerome Powell said right after it. So of course we'll be breaking that all down.

but from there I Want to talk about the most recent developments with FTX and Congress and Sam Bateman Freed who is now currently in prison? gotta talk about that. And then to wrap it all up, we're going to be getting into some of the hottest Finn Twit drama and now the SEC is getting involved. But before we get into all that, if you enjoy this type of content, help me out. the algorithm.

hit that like button and don't forget to become a goonie by hitting the Subscribe button. Now that we got it all that out of the way, let's rock the stock market. Bell Just went dignity. ding ding ding for today.

Wednesday December 14th and a day that started out with so much optimism, so much childlike excitement ended. Pretty much the way adulthood goes. It kind of sucked. It kind of got hit by a bus.

It makes you wonder, are we gonna get the seasonal Santa Claus Rally Here's everything that you need to know: the S P 500 snaps two-day winning streak after Fed raises rates and signals more hikes next year. Now obviously if you watch my video yesterday, you were fully prepped for this. You kind of knew what to pay attention to in the Fomc results and he also knew what to listen for when. Jerome Powell The Chairman of the Fed was giving his press conference.

but if you happen to miss that, I Get it. Life gets in the way. Here's exactly everything that played out: The FED has decided to raise interest rates half of point to the highest level in 15 years. Or for those of you who are a little bit more graph oriented, we were basically at nothing, and now we're ripping to Kingdom Come As A very quick refresher this: Federal fund rate is incredibly important because it sets the precedent for our credit card payments, our mortgage payments, our student loan payments, and I Get it, It's boring.

Who cares about the FED Who cares about monetary policy? But Please understand this has a very real impact on your day-to-day life, so that might make you wonder. Well, if they're making things worse, why are they doing that? Well, it's because of inflation. We know the most recent reading on inflation is 7.1 percent and a way to fight inflation is basically to lower demand. One way to lower demand is to continue increasing the cost of living.

That's what lowers demand and hopefully successfully fights inflation. And that's what everyone's been talking about, especially since June of this year when we topped out at 9.1 percent. So anywho, here's what you need to know. A bunch of unelected people who have a vast amount of power decided today to raise interest rates another 50 basis points also known as 50 Bips also known as 0.5 Now this was expected if you look at the Bond market.

This was kind of priced in the big question and this is exactly why the market sold off. Today was the latter. They were signaling more hikes to come next year at 2PM Today this document was released to the public. Lots of words, lots of numbers, A lot of things that a lot of people don't care about.

So I want to bring you the highlights. Speaking of which, check out these two highlighted numbers on the screen right now when we're talking about the fact that they're saying hey, we're still gonna raise rates and we're not most likely going to lower them in 2023. This is what people are talking about if you rewind to September We got a Sep report a summary of economic projections I Promise you. As a side note, if you bring this up on your next date I Mean obviously you're gonna score but anyway, that's a side note girls love when you know about summary of economic projections.

Anyway, back to the main task at hand in: September They expected the terminal rate to be 4.6 when I say terminal rate I Basically just mean the high water mark of how high are they going to jack up this fed fund rate? Well, as you can see this time around now, fast forward to December Instead of being 4-6 they're looking at Five One, which is obviously a notable increase. Hence, they're insinuating that they're going to continue to jack up interest rates, which, remember, they're fighting demand that puts downward pressure on both the economy and the stock market. But hey, if you're slinging game talking about the Sep reports, don't stop there. You might as well talk about the dot plots, which also happens to be incredibly important and also kind of explains the bearish reaction in the market.

Today on the screen now is a good old-fashioned Dot Plot Every single dot represents one voting member of the Federal Reserve and it's basically their best estimation of where the FED fund rate is going to go and the one we're looking at is not in the First Column it's in the second column because that's what refers to 2023. Oddly enough, as you can see in the most recent report in 2023, they're basically expecting it to look like a Christmas tree. Unfortunately, the median value of this Christmas tree is that 5.1 percent that I just showed you, which is an increase from the 4.6 percent on the screen. Now are the exact changes of the Dot Plot in September of 2022 to now in December of 2022..

quick summary of that is the fact that most voting members have increased their estimate of where the FED fund rate is going to go in the markets. This is considered to be a hawkish development. Yes, they are fighting inflation, but once again, that lowers demand and it puts downward pressure pressure on the economy and stocks. And that's exactly why the market sold today as soon as this report came out.

Also, as a very quick side note, there's one voting member who just went rogue. Look at this in 2025. We're talking more than two years out. One crazy guy still thinks that the FED fund rate is going to have to be over 5.5 percent.

Who is this guy? I Want his name? That was only half of the battle. All this information came out at 2PM And then the chairman of the FED Mr Jerome Powell was speaking at 2 30.. his entire speech and his answers to all the reporter questions are on the channel, so feel free to check it out. But just the Tldr version of that is.

he kind of finally admitted that yeah, we might be heading in the right direction I mean we are trending down nicely from June until here in terms of overall inflation, so that's a positive sign. and obviously we're no longer longer getting is 75 Pips rate hike like we got the last four times in a row we just got a 50 and now he kind of hinted at the fact that maybe just maybe February and March of 2023 might be 25 bips. So yes, still fighting inflation, but unless of a hawkish manner and it seems like we might be turning a little bit more dovish. We also happened to give us this golden quote: I don't think anyone knows whether we have a recession or not.

it's not knowable. Kind of makes you wonder what his job is then right? Maybe he needs to call Yellen before he can say anything definitive. All in all, the aggressive nature of the Federal Reserve is very much putting the Santa Claus rally the seasonal bias of December and early January being very bullish. It's putting it in danger now obviously.

I'm not a fortune teller I'm not Clairvoyant So I would love to get your thoughts and opinions on where you see the market going from now until the end of the year. Do you think this is just a slight hiccup? Or do you think the Bears are about to kind of regain some strength and take the Bulls to the slaughterhouse? Let me know who you think is going to win the eternal battle? the Bulls or the Bears at least in the short term. Let me know in a comment below. moving on from the stock market to the crypto, Market we have to talk about FDX because it's the story that keeps on giving, but the type of giving that this is, it's not adding up in any way in a positive manner.

for Sam Begman freed the now disgrace CEO Among all the crazy things happening in the markets right now today happen to be day two of the FTX Congressional hearings. this time it was with the Senate finance committee and instead of having the stand-in FTX CEO John Jay Ray III the guy trying to clean up the mess, it was a panel of four people including Kevin O'leary aka Mr Wonderful There was four, two seem to be in support of crypto and two very much seem to be against Crypto. Before we get into that though, I Want to give you a very quick update on the the recent developments related to Sam Bakeman Freed. As many of you watching this know, he was arrested in the Bahamas and now obviously he's trying to fight it.

Sam Bakeman Freed denied Belle Will fight extradition from the Bahamas now I Think it's pretty safe to say we all understand why anyone would want to go for bail, but in this case related to Sam Bakeman Freed. He had a lot of reasons, namely the fact that the prison he's in sucks. The Bahamian prison where Sam Bakeman Freed is headed is notorious for its harsh conditions, with one report detailing inmates removing human waste by bucket and living with rat infestations. Fox Hill The prison at which SPF is currently residing is known to be overcrowded and have unsanitary conditions, and as of now, as of the time that I'm filming this, it will most likely be there until early February of 2023..

Now, just to rewind very quickly, the Senate Banking Committee hearing set to take aim at: FDX and cryptocurrency Industry The largest Ponzi scheme in history. To give you the tldr of this, it was basically a bunch of Boomers arguing back and forth. Some seem to be pretty informed about the subject matter and others seem to have absolutely no clue of what they were talking about. I Don't think anyone disagrees that we need more appropriate regulation Obviously Traders and investors need to be protected.

There was some commentary at the hearing that crypto is 100 completely bad and this mainly came from Elizabeth Warren because she said hey, it's used for money laundering and I get that. Obviously that's not a plus. It is used for money laundering, tax evasion, and more nefarious things. but isn't the US dollar also used for those exact same things.

My point in bringing that up is just because something has some bad aspects, that doesn't necessarily mean that it outweighs the good aspects. And in my humble opinion, Crypto, the technology that supports it can be very, very beneficial for. Humanity. Remember, this is an issue of good old-fashioned embezzlement and fraud.

This is an issue with an actor within the crypto space, not with Crypto itself. Now obviously those are just my own thoughts and I would love to get your thoughts and a comment below. but before you do that, I Want you to listen to this one. Very interesting part of the hearing today.

Why do you believe FDX failed I Have an opinion I Don't have the records here. It is these two behemoths that own the unregulated market together and grow these incredible businesses. In terms of growth, we're at war with each other and one put the other out of business intentionally. Now maybe there's nothing wrong with that.

Maybe there's nothing wrong with Love and War but Finance is a massive unregulated. Global Monopoly Now they put FTX out of business. Um, what? It wasn't Binance that just fell ass backwards into putting FTX out of business. FTX went out of business because it was fraudulent and people found out I Don't know why, but Kevin O'leary has had some really bad takes when it relates to FDX.

After the whole blow up, he was saying that he would invest in Sam Bateman Freed again and now he's painting. this is FTX Only went to the Wayside because Binance in the world of capitalism attacked it and won. It wasn't just because of that FTX was stealing customers funds. That's why it went out of business.

That's just absolutely insane. And maybe I'm just misinterpreting it, but this was a super super bad take. Speaking of bad takes: fraud slash scams, and overall just generally doing stupid things. They're raised a lot of drama currently going on in the world of Fintuit.

and if you've managed to stay out of it, I'm here to give you the very quick Tldr: Both the Doj and SEC have been very busy lately. obviously not too long ago. they hit Sam Baking Freed with both civil and criminal charges and they're not stopping there. They're now coming after Social Media Pump and Dumpers.

doj and SEC charge social media influencers in alleged 100 million stock pump and dump scheme Yes You heard that right? The justice system is now officially coming after Social Media Pump and Dumpers and if you've spent any time on financial Twitter you're probably going to recognize two of these names. Mr Zach Morris Who's on the top of the list and right under that is PJ Matlock This might come as a surprise, but it is illegal to drum a pipe for a very illiquid stock, especially if you bought it beforehand and then in the hype cycle as the price runs up and up and up. Selling into it to all the people who are listening to you, especially when you're telling the world no, no, no, we're totally not selling. That's illegal.

That's a pump and dump. That's exactly what these eight accounts these eight people are being accused of doing. And like I said, if you've been around this, this is very common in Penny Stockland And for this particular group, I mean we've all seen it happen with our own eyes when it comes to many things in this world, especially if you're using social Media In the world, of Finance Transparency is key. As long as you're being completely 100 forthcoming with your audience, most likely you're gonna be pretty good.

Unfortunately for these gentlemen, at least the Justice System is accusing them of not doing so. For those of you watching this right now, especially if you happen to have followed or paid attention to any of these accounts who are being accused of a crime. I Would love to get your thoughts. Do you think that they did it? or do you think that maybe the Justice System is being a little bit too harsh and it's being very overstated.

I would love to get your thoughts? Well folks, that's what I have for you today. The stock market got its balls kicked in because of an interest rate decision and it's really putting into question of are we going to get a Santa Claus rally. The FTX Crypto Contagion story is the story that keeps on giving even though we all pray it would just stop. And then last but not least, it looks like some pump and dumpers finally got caught.

That's what I have for you if you enjoyed this video. Don't forget to hit the like button. Join up with the Moon game by hitting the Subscribe button and I'll catch you in the next video. Peace Out.