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Alluvial

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Everything posted by Alluvial

  1. Ripple's position on Intervenors' motion was filed with the court on May 3rd. It's well written and a good summary of the issue for the court. Ripple supports Intervenors' limited participation in the case. https://www.crypto-law.us/wp-content/uploads/2021/05/210503_RippleResponseRE_Deaton_MotiontoIntervene.pdf
  2. Maybe this order will encourage the SEC to settle the case as it may not want all those communications being public, and there could (very likely) be a lot of doubt in those memo or reports about whether the sales of xrp amounted to securities transactions. If the SEC's own memos, reports and communications with third parties have questions about it, how was Ripple BG and CL supposed to know that they were knowingly selling securities when selling their xrp?
  3. My reading of it is that the SEC is claiming that the Intervenors are seeking to be named as defendants in the case. The SEC says it is in its prosecutorial discretion as to whom it will sue. The SEC says that this case is about Ripple, BG and CL only, and no one can constitutionally force the SEC to litigate other cases (i.e. against Intervenors). The SEC is not threatening, with the above statement, to bring an enforcement action against secondary market xrp investors. Intervenors want to come into the case, in part, so that the SEC is forced to answer the question of whether it is
  4. Later, the SEC states that it is not suing anyone who traded xrp on the secondary market or any third party trading platform (exchanges), and that it has the right to forego any such suit in its prosecutorial discretion. Can't the SEC see that the entire crypto community, and especially the xrp community, is just hanging in limbo here???? Maybe the SEC is not legally required to say whether secondary market trades are not securities transactions, but it sure as hell would make things in the crypto community a lot clearer. I will be looking forward to Hogan's opinion on this as he ha
  5. https://www.crypto-law.us/wp-content/uploads/2021/05/SEC_Memorandum-of-Law_Opposing-Motion-to-Intervene-050321.pdf Just started to read it, but one good statement by the SEC is: "this particular [SEC] action [against Ripple, Garlinghouse and Larsen] does not charge transactions between individuals in the secondary market as violations of Section 5." That's page 2 of the preliminary statement by the SEC. That suggests that the SEC is only concerned with the xrp sales by Ripple, BG and CL, and is basically saying that all other xrp transactions (taking place on the secondary market)
  6. If I had to bet, I think the court will allow intervenors some, but not full, participation in the case. Probably allowing them (us!) to file amicus briefs, but not engage in discovery. But the most important result from the Intervenors' motion may be that the court will (hopefully) demand clarification by the SEC as to whether it is the SEC's position that all xrps are securities, or is the SEC only considering the xrp sold by Ripple as being sales of securities. If the SEC clarifies that xrp held by us and others are not securities, then that alone will be a huge win for us for sever
  7. Well written and compelling. And thanks to John Deaton for all of his hard work! https://www.crypto-law.us/wp-content/uploads/2021/04/Memorandum-of-Law-in-Support-of-Motion-to-Intervene.pdf
  8. Here's an article on silver for batteries: https://www.pv-magazine.com/2020/12/11/a-silver-oxide-zinc-battery-flexible-screen-printed-and-with-20-times-the-capacity-of-li-ion/ An interesting summary regarding silver and the SLV ETF, a silver ETF, and silver manipulation by the commercial banks (which I believe). This reddit review has received a lot of positive comments by many people in the silver industry. I will often listen to podcasts about silver as well. Be careful though, you might end up a silver bug (in addition to an xrp bug) like me.
  9. Uranium has done great. Good call! I have one Uranium royalty play - URCCF on US pink sheets. It's done great, but I only have a very small position. I should look at Lithium. I read something the other day that said that silver oxide batteries significantly outperformed lithium oxide batteries. Don't know that much about it. I have been a silver bug for a long time, but XRP is my biggest holding, and silver is a clear second. Good luck with your investments, and I hope you keep making great calls.
  10. I watched it, thanks! Silver seems to be consolidating. I think the big commercial banks which are short silver often manipulate the price with their unlimited bankrolls and they know the technical breakpoints for the hedge funds which cause them to flip. They've been doing it for years. Right now they really want to dampen any excitement that is growing I think in a big way at the grassroots level. I've long wondered why banks are even short silver given they have no real involvement in it. It seems like it should be miners selling in futures contracts (hedging their production) an
  11. I love a good conspiracy theory as well, but I need evidence. Thanks, I will check this one out! My recollection on Bear Stearns was that a silver short covering squeeze did not happen until 2011. My understanding was that Bear Stearns was long and extremely leveraged in real estate products that went bust when the real estate market collapsed. That was in 2008.
  12. I check out reddit's Wallstreetsilver regularly (probably as much as I stop by here!). Some great posts there, and a lot of enthusiasm. And the fundamentals for silver are so much better today than in 1980 when there were still billions of ounces above ground. That supply has been used up, and today there are so many industrial uses for silver (electric vehicles, cell phones, solar panels as well as so many anti-bacterial uses). There is strong investment demand for silver (and it's just getting started). Soon the industrial users will start securing supply because the Teslas and Apples o
  13. Are any of my fellow xrp brothers and sisters buying any silver? I was fortunate enough to discover xrp back in 2014, and was really impressed about its potential and prospects. And still love it going forward. I have the same feeling about silver's future. It's been manipulated for years, and now there is a good possibility for a huge swing to the upside and the downside is limited IMO. I am certainly not arguing for selling any xrp (it's my biggest holding by far and I have no other crypto holdings except the spark tokens that we are to receive). Not giving investment a
  14. What society allowed of governments in 1934, and what it will allow now, are two completely different things. There's no way they could get away with outlawing gold ownership now. It's simply too late to outlaw bitcoin. If they wanted to do it, it needed to be done years ago. Cat's already out of the bag (sorry to bring up an old Brad quote ).
  15. I think a lot of us are putting too much weight on Gensler's testimony at the confirmation hearing. From what I know, it's pretty much a rule that the nominee just goes in and repeats some platitudes - "We want to promote innovation, and we will protect investors." It's kind of like a hearing for a Supreme Court Justice. You don't really get any insight into how the nominee plans to do his or her job. Unlike the attorney who does these nice videos which I like, I don't have a negative feeling about Gensler (or any more of one) from what he said at this hearing.
  16. The tone of the joint letter to the judge - including that there were no settlement prospects at this time - was fully expected. Also expected was that the parties retained the same posture that they had in the initial pleadings - with a couple of extra jabs for each side. It doesn't mean that the parties are not exploring and wanting to settle this case. We will probably have to wait until Gensler gets confirmed before there will be any real settlement discussions because any settlement language will have an effect on other crypto projects - everyone in this space will be looking at t
  17. Roslyn Layton right on point again - another great article by her.
  18. I liked this part at around 30:00: Joseph Hall: "I think there is a good chance the SEC loses this case."
  19. https://dailyhodl.com/2021/02/02/former-sec-official-says-case-against-ripple-is-not-a-slam-dunk-heres-why/ Also, and more importantly, here is the link to the former SEC official's recent statement on the Ripple case and his opinion regarding how the SEC should be dealing with cryptocurrencies. https://www.davispolk.com/sites/default/files/ripple_token_case_highlights_need_for_sec_clarity_on_crypto.pdf His comments and analysis are exactly right IMO.
  20. Lee will only be the temporary Chair until Gensler is confirmed. The Chair was Roisman after Clayton resigned, but Roisman is a Republican that was appointed by Trump; Lee is a Democrat. That's the reason for the temporary switch.
  21. It is a problem that they have information that we don't. So, for example, they know about the Moneygram deal or some positive announcement that is upcoming. They could wait until after the news is released and then sell at a higher price. But I do recall that they sign some type of ethical affirmation about not doing such things, but do they abide by it? Who knows? Probably. They could establish a protocol where if they decide to sell a certain amount, those sales could be made by a third party who does not have the inside information and only must sell over a certain time period designa
  22. I think Ripple felt that because xrp is not a security (and that the sales of xrp to the public did not meet the definition of an investment contract based on the Howey test) that there was no reason to register the sales as a securities offering. Registering the sales with the SEC, and selling only to accredited investors, would have been a nightmare because those xrp are deemed securities at that point, they don't just become non-securities. In other words, an accredited investor doesn't just get to turn around and sell the xrp on some exchange to a non-accredited investor. That's my unde
  23. I noticed in the video that the attorney said that there was no settlement. To some extent that was true because the court decided the case on the merits. However, the court did order the parties to then settle as to what Kik must do, and the parties did come to a settlement. If Ripple were to lose, my guess is the court would order the parties to settle and likely there would be fines and notice of future sales. The problem about the future sales to accredited investors is that those xrp (as I understand it) would continue to be securities - they don't just convert to non-securities
  24. As to when Gensler will actually become the SEC Chair, here are the timelines for previous Chairs. Trump nominated Clayton on his first day in office - January 21, 2017. On April 4, 2017, the Senate Banking Committee voted for his nomination to be presented to the full Senate. On May 2, 2017, the Senate confirmed the nomination, and Clayton was sworn in and became SEC Chair on May 4, 2017. Obama nominated Mary Jo White on February 7, 2013, and she was sworn in on April 10, 2013.
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