Joe Biden is causing Americans to suffer.
He’s hurting regular people and seizing more power for himself.
Now, he’s trying to ban one of the last things Americans have to protect themselves from him.
With inflation spiraling through the roof, more Americans are turning to cryptocurrency to protect their savings.
Unlike the U.S. dollar, which the Federal Reserve can print more and more of every day, most cryptocurrencies have a fixed supply, which means they hold their value.
Joe Biden, of course, feels threatened by this. And now he’s trying to fearmonger about crypto, and making moves to ban it.
According to a report from the New York Times, “the Biden administration warned on Monday that digital currencies posed a threat to America’s sanctions program and said in a new report that the United States needed to modernize how sanctions were deployed so that they remained an effective national security tool.”
In typical form, the government uses “national security” as an excuse to grab more power.
This is a classic example of the priorities of the federal government. Their “sanctions program” and their foreign policy empire is more important to them than the livelihood of American citizens.
Cryptocurrency is about to take on a central importance to Americans, as the economy spirals towards hyperinflation.
In the same way that gold helps protect people’s savings during times of inflation, crypto does the same thing.
If the value of the U.S. dollar is in free-fall, it needs competition. Competition among currencies is like competition among companies – it gives people options and leads to better outcomes for everyone.
If people are forced to hold their savings in a failing U.S. dollar, they will choose to spend their money instead of saving it – which will lead to even more inflation.
It’s a never-ending cycle that will lead to extremely bad outcomes for the U.S. economy.
However, if they have the option of holding cryptocurrency, they can conduct their normal economic lives outside the framework of the U.S. dollar, and be less vulnerable to the effects of inflation.
Joe Biden, however, feels threatened by this.
The more people start using crypto for financial transactions, the less he can track them. This means he has less power to monitor the lives of ordinary American citizens.
And we’ve seen already how important that is to him. The Treasury Department is threatening to track all American bank accounts with over $600 in them.
Already, the Biden administration is making moves to regulate cryptocurrency, which is a precursor to banning it completely.
The New York Times report states that “the President’s Working Group on Financial Markets is expected to release a separate report this year with regulatory recommendations for stablecoins, which are asset-backed digital currencies.”
Joe Biden knows that Americans are choosing to remove themselves from the system, and conduct their lives outside the framework of the neo-liberal establishment.
He knows that Americans are learning how to live freely.
And that thought terrifies him. That’s why he’s making moves to grab more power – because he is desperate.