I started this post a few months back, and it sat on my computer gathering dust. I did not know how to finish this, and I knew it needed an ending better than just a description of current affairs. (circa March 2022). I was not disappointed as I picked thru some drafts and found that the circus is still in town and now the Gobernment has a new evil to banish with their power of the regulation.
Now, the SEC is chasing down Reddit, Coinbase, Kraken, Binance, and looking for every chance to use their hammer on anything crypto. (they see crypto as a nail and they are a hammer). Also, the Ponzi police are ramping up their investigations.
I guess the dog days of summer needed some news other than the temperature. So, the SEC like a faithful dog is providing news for the fiat community and giving them something to blame on the failure of their 401K and the current cost of living.
I'm here from the government and I'm here to help.
So, if you have ever heard this phrase, you probably got a bit sick to your stomach. Maybe even had a twitch in your eye. Knowing this is not going to go good for the average American. Knowing that the average politician is not here to help, unless you understand perspective . Knowing that the perspective is from the their view point and the unspoken "I'm here to help myself".
I'm here to help myself to anything I can beg, borrow, or steal. I'm here to make my job as a goverment employee easier by making rules that I can easily enforce. And, to the consumer/producer of goods and services. You can go to Hell.
The average government employee today only follows order from on high and does not rock the boat. They care not if their actions and orders seem a bit on the shady side. "After all, "I'm from the government ,and I'm here to help."
Our Latest form of help is the new Executive Order from Biden. At least it's signed by Biden. Who knows the author? Surely it originates from a lobbyist or crony.
You can see it here . US President Joe Biden signed an Executive Order on cryptocurrencies that directs US federal agencies to coordinate their approach to the industry.
Good luck everyone. Some say this is good. Universal adoption will require such regulation. I say this regulation should not be written by cronies from the fiat banking industry.
Some say it's just another form of control since the banking industry is running scared. If you doubt my view on the "help" part, do your own research on a few things such as the true cost of inflation, and Build Back Better, and Nixon's 1971 money policy, and on and on. Maybe throw in the IMF or the UN's view on monetary policy.
The latest info says the CFTC wants control over everything crypto. (the war between the SEC, the CFTC, and all the other alphabet regulators has just started, they all want control over this huge new thing called crypto) They just don't understand that it was not meant to have centralized control. It was designed to be decentralized and that idea is foreign to anything they can conceive.
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When they claim to want to help is when I plan to run the other way!!