the fight for liberty and independence from the state has an economic front
We live in turbulent days, with Joe Biden's administration from hell war-mongering a Russian-Ukrainian conflict that only seemed to exist in the minds of the extremely unpopular Democratic politicians.
These people are a bunch of deranged globalists who spent two years enslaving people with masks, mandatory shots, lockdowns, while kneeling for the BLM terrorists. They are going to get massacred in the midterms, so they need a major distraction.
But there's another war that is going on behind the scenes - one that may prove to have a big impact in the future: The Crypto War. Maybe we can call it a 'Coinflict'.
It unfolds against a background of rising inflation and the insane printing and debasing of the American dollar, as well as other fiat national currencies.
It also takes place during unprecedented assaults on human liberty, sometimes to the point of societal breakdown.
Leaning on the tyrannical powers of his 'Emergency Act', Canadian PM Trudeau has seized Go Fund money and frozen bank accounts from ordinary people whose sole 'offense' was to donate to the trucker movement.
When it came time to try to seize Bitcoin wallets belonging to 'dissidents', things went far from smoothly for them. Crypto has shown how decentralized value exchange systems can change the game.
An Ontario Court tried to get a 'self-custody crypto wallet provider' to turn over user information from these people, and freeze their Bitcoin assets.
The answer was this:
That is the whole point of Crypto - to take the financial power away from the state and big corporations, and give it back to the individual investor.
While Russia and Ukraine are pitted against each other in a Biden's Wag the Dog war that globalists try to will into existence, both countries are strangely aligned when it comes to the Crypto War.
From Russia come some bullish news regarding the wider acceptance of crypto in modern societies. Russians are considering 'energy tariffs' for cryptocurrency miners, as well as taxes on crypto-to-ruble conversions — as long as said facilities are constructed in particular regions.
The reasoning is that Bitcoin miners will bring business to these areas, provide economic stimulation and strengthen the resilience of the grid by providing an additional source of monetization.
The Russian rivals are not to be undone, so the Ukrainian parliament approved a new bill that makes Bitcoin now legal in Ukraine.
minister Fedorov, of digital transformation:
“The new law is an additional opportunity for business development in our country. Foreign and Ukrainian crypto companies will be able to operate legally, and Ukrainians will have convenient and secure access to the global market for virtual assets.”
The prevailing bearish take on the Crypto market (all markets) was perhaps best expressed by one of the most respected Wall Street gurus, the former NY Fed official and Credit Suisse Group analyst Zoltan Pozsar.
The Federal Reserve will need to engineer a sharp decline in stock prices, housing prices, and Bitcoin prices, Poszar wrote, in order to bring inflation back under control. You read it right: crash the markets.
"Volatility is the best policeman of risk appetite and risk assets. To improve labor supply, the Fed might try to put volatility in its service to engineer a correction in house prices and risk assets – equities, credit, and Bitcoin too…"
In short: crash everything.
Other bearish piece of news coming from America is about the selection and appointment of seasoned prosecutor Eun Young Choi to serve as the first Director of the National Cryptocurrency Enforcement Team.
“With the rapid innovation of digital assets and distributed ledger technologies, we have seen a rise in their illicit use by criminals who exploit them to fuel cyberattacks and ransomware and extortion schemes; traffic in narcotics, hacking tools and illicit contraband online; commit thefts and scams; and launder the proceeds of their crimes,” said Assistant Attorney General Kenneth A. Polite Jr. of the Justice Department’s Criminal Division.
The Enforcement Team will prosecute 'the criminal misuse of cryptocurrencies and digital assets, and comprises attorneys from across the department, including prosecutors with backgrounds in cryptocurrency, cybercrime, money laundering and forfeiture.'
Young has a reputation as an accomplished leader on cyber and cryptocurrency issues. While curbing any kind of crime is a positive thing, it's hard not to see this as it is: part of an effort by the Biden Administration from Hell to criminalize the whole crypto economy.
No wonder BTC is tanking to 37k levels. But perhaps the most worrying development is the Biden executive action that is expected on crypto, that may change the goal posts and throw the whole segment into a chaotic state.
It also doesn't help that president Donald Trump keeps speaking against Bitcoin and reiterating that he 'likes the dollar'. That certainly sounds very presidential, until of course you stop to think what they are doing to the fiat currency and how it's been printed fast into hyperinflation.