Biden wants everyone to be dependent on the federal government.
He feels threatened by anything that gives people more freedom.
Now he is launching a war against people who trade cryptocurrency.
Cryptocurrency is a type of currency which is digital and is not controlled by the federal government.
It exists on a type of technology called “blockchain” which makes it hard for the feds to monitor and control.
But they are determined to try to control it. And Joe Biden just announced a move to crack down on crypto.
According to the New York Post, “President Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded.”
Never mind that Biden has no authority to make new laws through executive order without having them pass through Congress – this is a dangerous step in the wrong direction.
The Post article continues, “The move comes as administration officials have raised concerns in recent weeks about Russia’s use of cryptocurrency to evade the impact of crushing sanctions in response to its invasion of Ukraine. The sanctions have sent the ruble to historic lows and have closed the country’s stock market.”
Just as they have since 2016, the Democrats are using Russia as an excuse to crack down on freedom.
It may well be true that the Russian government is planning to use crypto to rescue their economy, but which is more important: getting back at Russia, or keeping America free?
According to Blockworks, which is a crypto news outlet, the federal government has been moving in this direction for years.
“Crypto regulation in the US has slowly ratcheted up in recent years, with greater reporting requirements placed on exchanges as well as scrutiny towards stablecoins, whose value is generally pegged to fiat currency or commodities. Last year, the Treasury Department pushed out a requirement for individuals to report transactions in crypto exceeding $10,000 or more to the Internal Revenue Service.”
It’s clear that the federal government is terrified of the power of crypto, and wants to rein it in before they lose control over the financial system.
Of course, saying that they’re going to regulate crypto, and actually regulating crypto, are two separate things.
After all, many cryptocurrencies, such as Bitcoin, are not “companies” in any sense of the word. The IRS can’t approach the CEO and demand user data, because there is no CEO. It’s a decentralized network of individual users.
That’s what makes crypto so attractive to people who want the federal government to have less control over our lives, because it is so decentralized and hard to control.
The next few decades are going to be a war of technology between the people and the government and the elites.
The government and the elites will be trying to use technology to acquire greater control over the population, like how the Chinese Communist Party operates.
And the people will try to use technology to make power less centralized and increase freedom.
Let’s hope the people win that battle.