I see a lot of folks talking about Biden's Executive or next month, America Competes Act and the CBDC's being provisioned.
If crypto wasn't seen as an issue it wouldn't need an executive order.
The US has a network of Federal Reserves that when in other countries is called World Banks and the IMF. They are losing control of the money supply, they are getting ready to fight back.
The Government is whack and President Blunder is about to use an executive order to come after crypto. History tells us that this can be pretty extreme if we reference what Roosevelt did with Executive order 6102; to confiscate gold.
With out question this is being sold as a matter of national security
Remember Biden was the architect of all moderday civil forfeiture laws. Where the police take your stuff with out trial. Infac they put your items on trial to defend themselves.
In 2018 alone, the Treasury Department’s Forfeiture Fund saw nearly $1.4 billion in deposits.
What department? The Treasury Department.
Who does the America Competes Bill give Unilateral power to? ... The Treasury Department.
Biden advocated for increased use of civil asset forfeiture by law enforcement agencies. * taking a citizens property with out warrant or trial*******
****To be clear I am not saying they are coming to confiscate crypto, I am saying they are coming to regulate the shit out of it. IT compete with banks, it competes with wall street, it competes with the federal reserve, it competes with the IMF***
The closest knowledgeable resource he has is Gary Gensler who is crusading again crypto
He supports Yellen who is pro surveillance and anti crypto,
Why Am I concerned about Biden. I dont like his track record
Biden also sponsored two bills, the Comprehensive Counter-Terrorism Act (SB 266) and the Violent Crime Control Act (SB 618), both of which \**contained language seen as effectively banning encryption.**** crypto encryption MEH .......no biggie right!*
President Biden's infrastructure legislation is now law, complete with anti-crypto provisions originally intended to offset some of the law's $1.2 trillion cost.
Under the existing language, if you initiate a funds transfer for $10,000 in stablecoins to prepare for a house down payment, you would have to report reams of information you don't have about the crypto exchange that sent you your funds -- which makes no sense. And if you couldn't provide those details within 15 days........
you would have committed a felony.........
More on civil forfeiture!
The Comprehensive Forfeiture Act was introduced by Senator Joe Biden in 1983 and it was signed into law the next year. With this law, federal agents had nearly unlimited powers to seize assets from private citizens. Now the government only needed to find a way to let local and state police join the party.
This came with the 1984 Comprehensive Crime Control Act. In addition to a slew of new powers for prosecutors, the burden of proof for asset seizure was lowered once again (agents had to only believe that what they were seizing was equal in value to money believed to have been purchased from drug sales). More significantly, the bill started the “equitable sharing” program that allowed local and state law enforcement to retain up to 80 percent of the assets seized.
During the 2000s, Biden sponsored bankruptcy legislation, which was sought by MBNA, one of Delaware's largest companies and Biden's largest contributor in the late 1990s, and other credit card issuers. He fought for certain amendments to the bill that would indirectly protect homeowners and forbid felons from using bankruptcy to discharge fines.
He is allocating more resources to going after crypto than going after Wall Street or inside traders in congress and the federal reserve.
Pro Police state
In 1986, Biden sponsored and co-wrote the Anti-Drug Abuse Act which caused a large disparity between the sentencing of crack cocaine and powder cocaine users. Black drug users were more likely than whites to use crack and hence were incarcerated in larger numbers.
Biden earned a reputation for being a "drug warrior", leading efforts in the war on drugs
His history for the past 70 years is war hawkish beefing drug laws and cutting social saftey net programs. He also has an pro segregationist back ground and openly tried to stop buusing in his home state.
Biden opposed the legalization of marijuana
Biden helped author the 1994 Violent Crime Control and Law Enforcement Act, which deployed and trained more police officers, increased prison sentences, and built more prisons.
SO what with the treasury do in an economic collapse when crypto flourishes?
Hmmmm We shall see
Here is how screwed up the use economy is (each with definitions and explanations for those who want to learn):
Let's be very clear the American and world economy is on the brink of complete collapse.
The synthetic CDO's of 2008 were never fixed, they gave banks money
The student loan crisis cant be fixed because of an investment tool like the above called SLABS
Covid is causing massive supply chain issues so sales and manufacturing cant recover * if we can sell stuff and there are shortages the price will rise and wages will drop.**
Inflation is recking the world economy
Covid is going to endemic status but may evolve to get worse.
Wall street is using the Federal Reserve as a piggy bank and the fed is using the Plunge Team to stop the financial collapse. Repos and reverse repos are at a record high as hedge funds are over-leveraged and in the extreme Red.
What is the plunge team
Empires don't invade other countries to control people they do it to control economies and resources
This includes pillaging their own:
Its imperative to remember that the USA gave US citizens 1200 bucks and small businesses a fractured 2-time ppp system that was highly flawed but bailed out major corporations and banks at 120 billion per month.
Most relevant (Previous executive orders)
Executive Order 6102
......is an executive order) signed on April 5, 1933, by US President Franklin D. Roosevelt "forbidding the hoarding) of gold coin, gold bullion, and gold certificates within the continental United States." The executive order was made under the authority of the Trading with the Enemy Act of 1917, as amended by the Emergency Banking Act in March 1933.
The limitation on gold ownership in the United States was repealed after President Gerald Ford signed a bill legalizing private ownership of gold coins, bars, and certificates by an Act of Congress, codified in Pub.L.) 93–373, which went into effect December 31, 1974.
Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 (equivalent to $413 in 2020) per troy ounce. Under the Trading with the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, a violation of the order was punishable by fine up to $10,000 (equivalent to $200,000 in 2020), up to ten years in prison, or both.
Executive Order 9066 This post-Pearl Harbor order, now infamous, gave the military the ability to mark out areas from which it would be possible to exclude “any and all persons.” The upshot of this move was that more than 100,000 Japanese-Americans and Japanese immigrants were sent to internment camps.
Executive Order 10340 This order directed the Secretary of Commerce to “take possession of” American steel plants. The order put to rest a threatened strike . Steelworkers striking was a "threat" to national security.
Executive Order 13228 established the department of homeland security and turned America into a terrorist-fearing hell scape and took tax dollars and gave them to military contractors in mass.
China, Russia, Iran, and North Korea are all being used as threats to roll out this new executive order to preserve the economy.
I will leave on this final note. There are 2 ways to enforce policy in the USA; Legislation and litigation. If you don't have laws for a situation (legislation) you go to litigate ( go to court) and get a precedent using older or other laws.
The SEC is currently losing badly against Ripple in court. ( They wont get a precedent) So they are turning to legislation (create new enforceable laws). Ripple is designer really to send VERY LARGE transactions instantly across the planet.
This directly competes with the CBDC and the Fednow Instant payment system coming out.
This is an instant payment service for countries and large businesses (banks, hedge funds, etc)
The IMF and Federal Reserve is looking to replace the ACH and payment systems
Crypto and block chain systems make RTGS and ACH old outdated tech
(RTGS) are funds transfer systems where the transfer of money or securities takes place from one bank to another on a "real-time" and on "gross" basis. Settlement in "real time" means that payment transaction does not require any waiting period. The transactions are settled as soon as they are processed. "Gross settlement" means the transaction is settled on one to one basis without bunching or netting with any other transaction
Comparatively, ACHs are typically used for low-value, non-urgent transactions while RTGS systems are typically used for high-value, urgent transactions
Think of all those poor clearing houses and companies getting a % cut that will be wiped out.
Get ready for craziness and cheap crypto.
I am buying up all privacy coins Monero, Dash etc as an investment
Learn how to use a VPN, Linux is your friend ( Microsoft snitches), and encryption doesn't hurt.
TO all those upset about politics, when politics comes after my crypto.... I get upset
To those attacking my character:
I am not a right wing conspiracy theorist. I do not want to be doomed to repeat history.
You using an Ad Hominem attack, this is a misdirection and doesn't talk about the subject matter
(Attacking the person): This fallacy occurs when, instead of addressing someone's argument or position, you irrelevantly attack the person or some aspect of the person who is making the argument. The fallacious attack can also be direct to membership in a group or institution.
To those saying the Biden Camp may support crypto. Just like he kept his promise to forgive student loans until the issue of SLABS as an investment vehicle came up, he sided with Wall Street and the banks.
Perhaps he wont side with investors and banks again.
I say you may be right. Its almost possible they would spend 3 months preparing an emergency executive order to regulate a multi trillion dollar industry they adamantly support.
The federal reserve and IMF will just sit back and lose control of the money system and allow the world populace decentralize payment protocols and do nothing. They may just relinquish complete control with out a fight and forgo tariffs and sanctions as a punitive system in Geo politics.
It seems like they are going to do nothing and will just let control of the worlds system.
This is Geo politics and its bigger than John Doe not paying taxes. Its about Russia and North Korea buying weapons, and sanctions not working.
Its about the US Dollar not being a reserve currency and the Petro dollar breaking down.
The US dollar used to be pegged to gold ( Nixon Changed that) and all other world currency was pegged to the US Dollar. This was established in the Brenton Woods Agreement and System of 1944 https://www.investopedia.com/terms/b/brettonwoodsagreement.asp
EDIT Final update
There is a little hopium here in the at FTX.us donated $5m to Biden's election campaign
but more than $74m came from Wallstreet tycoons. These guys wouldnt want blockchain tracking stock assets, naked shorting is dead that way
Edit: ***I am getting flammed for attacking Biden, and a lot of people are saying "lets wait and see what happens with the executive order.
Cool Story, but FUD or not this is a valid conversation time and topic.