Just In: Biden to Sign Executive Order to Regulate Cryptocurrency after Assault on Dollar

[solarion]

We'd all be a lot better off if the various forms of money were allowed to compete freely.

 

[Lancers32]

US government can outlaw crypto, and crypto usage/development will happen in other countries. Likely the US will revert any restrictions as that happens and join the ranks of the other silly countries banning then unbanning crypto. Meanwhile anyone involved in crypto tech will move elsewhere to countries not as authoritarian and restrictive.

Yep they will just move.

 

[Lancers32]

We'd all be a lot better off if the various forms of money were allowed to compete freely.

They can't have that.

 

[solarion]

...and I won't be enslaved to a repressive and failing debt dollar system. So I guess we've a problem.

 

[Lancers32]

...and I won't be enslaved to a repressive and failing debt dollar system. So I guess we've a problem.

Actually they don't.

 

[solarion]

Actually they don't.

Well you can say that. Most seem to think governments are omnipotent...they're not. Enough people waking up and refusing to have 50, 60, 70+ percent of the fruits of their labor stolen would be a problem for TPTB. Particularly in nations where the peasants are heavily armed.

You can go get jabbed dozens of times a year, fed bug patties, and stuffed into tiny living spaces that you're forced to rent. I'll die fighting against if necessary thanks.

 

[Lancers32]

Well you can say that. Most seem to think governments are omnipotent...they're not. Enough people waking up and refusing to have 50, 60, 70+ percent of the fruits of their labor stolen would be a problem for TPTB. Particularly in nations where the peasants are heavily armed.

You can go get jabbed dozens of times a year, fed bug patties, and stuffed into tiny living spaces that you're forced to rent. I'll die fighting against if necessary thanks.

What happened recently in Canada is what would most likely happen anywhere in the civilized world. You can say it would have been different if people are armed but they have more guns. I guess when it gets to the point where people have nothing left to lose it might be different.

 

[solarion]

...and what happened in Canada? Besides a tyrant revealing himself? They showed everyone that the banking system is absolutely not to be trusted.

We seemingly perceive the events that transpired there very differently. Trudeau got his ass handed to him and was forced to back down. Yes, he'll try again with his tyrannical emergency powers bs, but people there were very strong in the face of tyranny.

 

[solarion]

Cryptos soar after accidental release of coming executive order (Cryptocurrency:BTC-USD)

Whoops! Currencies across the cryptoverse took off overnight after the inadvertent publishing of remarks from Treasury Secretary Janet Yellen. Read more.

seekingalpha.com

"A presidential executive order on cryptocurrencies would 'support responsible innovation' as it coordinates U.S. policy across agencies. Under the executive order, Treasury will partner with interagency colleagues to produce a report on the future of money and payment systems. As we take on this important work, we'll be guided by consumer and investor protection groups, market participants, and other leading experts. Treasury will work to promote a fairer, more inclusive, and more efficient financial system, while building on our ongoing work to counter illicit finance, and prevent risks to financial stability and national security."

Some work to form the government's crypto policy has already been done, like last year's stablecoin report from the President's Working Group on Financial Markets. Congressional committees in recent months have also ramped up hearings on cryptocurrency, but the new executive order will coordinate a broader strategy for the nearly $2T crypto market. The Treasury will also work with international partners "to promote robust standards and a level playing field."

Not exactly ominous. Kind of a nothing-burger really.

 

[Lancers32]

...and what happened in Canada? Besides a tyrant revealing himself? They showed everyone that the banking system is absolutely not to be trusted.

We seemingly perceive the events that transpired there very differently. Trudeau got his ass handed to him and was forced to back down. Yes, he'll try again with his tyrannical emergency powers bs, but people there were very strong in the face of tyranny.

The cops and the military showed what side they would choose if push came to shove.

 

[solarion]

...but the military told Trudeau to go fuck himself...and there are multiple videos of cops refusing to arrest anyone. When they did arrest people, they drove them a block away and released them.

Where are you getting info from? It differs significantly from mine.

 

[Lancers32]

I watched cops trample people with horses and whack a few with clubs. Is that woman organizer still in jail?

 

[solarion]

I've no idea, much more focused on big picture stuff. I heard about the woman getting run over, hope she's okay, but the macro stuff is what matters in the grand scheme. The PM of Canada, quite literally made protesting into a crime overnight, seized bank accounts, and then was forced to walk it all back. If you think people are going to forget what has happened, then I think you're mistaken.

 

[Mujahideen]

We'd all be a lot better off if the various forms of money were allowed to compete freely.

BUT IF YOU DONT HOLD IT YOU DONT OWN IT!!! AND EMP!!!!

 

[gringott]

Cryptos soar after accidental release of coming executive order (Cryptocurrency:BTC-USD)

Whoops! Currencies across the cryptoverse took off overnight after the inadvertent publishing of remarks from Treasury Secretary Janet Yellen. Read more.

seekingalpha.com

Not exactly ominous. Kind of a nothing-burger really.

No offense to you personally solarion, but I see your statement as a bit of whistling past the graveyard.

Jim Rodgers was interviewed yesterday I believe, I listened. He was questioned about cryptos, he did not slam them at all. He just pointed out some obvious to him issues. He also stated he has never bought, held or sold cryptos. He did say he knows people who made money off cryptos.

 

[Lancers32]

What are these ISO cryptos?

 

[solarion]

No offense to you personally solarion, but I see your statement as a bit of whistling past the graveyard.

Jim Rodgers was interviewed yesterday I believe, I listened. He was questioned about cryptos, he did not slam them at all. He just pointed out some obvious to him issues. He also stated he has never bought, held or sold cryptos. He did say he knows people who made money off cryptos.

You mean the Stansberry interview? Yes I saw it, love me some Jim Rogers.

Hey, I'm not a PM or crypto guy, I see the value in both and can't wrap my head around the crypto hate-r-aid around here. People would be far better off attempting to maintain an open mind, but ultimately it's their loss. My open mindedness with regard to crypto has likely allowed me to quadruple the amount of PMs I could sink in the lake behind my house as I treat them just as I would any other safe play asset.

As I've said many times here...were I forced to choose at gunpoint between cryptos and PMs, I wouldn't even hesitate. PMs hand down. ...and there's plenty of room for both. Cryptos do not fulfill the same need as PMs, and therefore do not fundamentally compete with them...though they often do compete for investment flow. I'm a freedom kind of guy...so I have to respect people's right to push their currency in the direction they choose.

 

[Lancers32]

It looks like the government is in the process of trying to educate the public about cryptos. Why do you think that is?

 

[gringott]

You mean the Stansberry interview? Yes I saw it, love me some Jim Rogers.

Hey, I'm not a PM or crypto guy, I see the value in both and can't wrap my head around the crypto hate-r-aid around here. People would be far better off attempting to maintain an open mind, but ultimately it's their loss. My open mindedness with regard to crypto has likely allowed me to quadruple the amount of PMs I could sink in the lake behind my house as I treat them just as I would any other safe play asset.

As I've said many times here...were I forced to choose at gunpoint between cryptos and PMs, I wouldn't even hesitate. PMs hand down. ...and there's plenty of room for both. Cryptos do not fulfill the same need as PMs, and therefore do not fundamentally compete with them...though they often do compete for investment flow. I'm a freedom kind of guy...so I have to respect people's right to push their currency in the direction they choose.

Yes, I like him and respect his opinion. That said, I am not a stalker, I have only seen or heard him a few times over the years.

As for the rest, some people love milk, some people can take it or leave it, and some people are lactose intolerant. It takes all kinds of people to make up the world.

It looks like the government is in the process of trying to educate the public about cryptos. Why do you think that is?

Prepping the public mind for the withdrawal of cash?

 

[Lancers32]

Fedcoin

 

[gringott]

Fedcoin

BINGO! Meaning you can't use FedCoin as markers on your bingo card in the work camps.

 

[Lancers32]

Payment systems. What payment system are the banks currently using. Ripple/XRP? How and where could a US citizen wanting to gamble a few bucks buy this XRP?

Yelen’s Comments of Biden’s Order to Regulate Cryptocurrency | Armstrong Economics

WASHINGTON - U.S. Secretary of the Treasury Janet L. Yellen released the following statement on President Biden's executive order on digital assets. "President Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy. This approach will support...

www.armstrongeconomics.com

 

[solarion]

It looks like the government is in the process of trying to educate the public about cryptos. Why do you think that is?

Because the shitbags want to force people into them...obviously. ...and they will not be forcing people into bitcoin, ETH, monero, binance, etc...they'll try to force people into tyrannical garbage...like XRP and CBDC.

Government doing what government always does. Lying and stealing.

You can get XRP dogshit on coinbase, I believe. I have some in a wallet I haven't touched in several years. Ripple is complete centralized garbage. So yeah, naturally goobermint loves it.

 

[ds_mustang]

Early word is the crypto executive order is a big nothing... Mostly a call to have various agencies study crypto and report back. But my concern is it's definitely not hands off. It's a first move from a government that thinks it must control everything, and has the world's failing reserve currency. It frames the subject with terms like "threat assessment", "protection", "illicit use", "national security risks", etc. There's even terminology about equity because of course there is. The future of the US for crypto remains dim IMO.

 

[Casey Jones]

Doug Casey owns houses in about a dozen countries and I think 4 passports.
.
.

One of these days, someone who's not spreading graft around, is going to be found with more than one passport, and jailed as an enemy spy.

And that's not even that unreasonable. Citizenship suggests (does not prove) loyalty to the person's homeland. Having more than one passport, shows a LACK of loyalty, only a desire to work the system, avoid restrictions placed on outsiders.

Once upon a time, when we were rational, the US did not recognize dual-nationals under 18. At age 18, if/when you exercised any of your rights as a citizen - either of the US or a foreign nation - you were legally declaring allegiance to that nation. So if you met the requirements to vote, and registered in your county, you were proving American, and not Uruguayan or German, citizenship. If you applied for a German passport, based on claims of German citizenship, you had just forfeited your American citizenship.

I know this two ways. First, my father was a dual national as a child - born in the US, but son of a German citizen, and thus by their laws, entitled to German citizenship. Having lived in Germany from age 5 to 12, he left - the Third Reich - under an American passport, procured at great effort. Ergo, by American law, he was no longer a German citizen, and procuring a German passport, say, in the 1950s, would be forfeiture of his American citizenship.

Second way I know this, was that I was trained, twice, in looking over official records of citizenship. Once by County Welfare, where I worked for 20 miserable months; and once by the Navy (Personnelman).

Now, the Globalist oligarchs are promoting, through mediuh, the kewel prospect of dual/multi-citizenship...."Citizen of the World." Meaning Comrade Klaus and his legion of vermin-stooges, can control you, your government, your money, no matter WHERE you hide.

 

[Lancers32]

Loyalty to what?

 

[Casey Jones]

Loyalty to what?

To your nation.

Meaning, you are not ready to join/enable/encourage foreign political adventure or meddling.

Meaning, you support our system and structure, of laws and customs.

Of course that's not true of every citizen. But a person who does not support the nation, but has citizenship here, has the Constitutional right to publicly state his preferences, and work for those changes.

A NON-citizen does NOT have the right to come in and advocate replacement of our government or system. He is a GUEST here; and - before kourts got involved - a short-term visa or Green Card could be yanked for misconduct.

 

[Juristic Person]

i see it this way --

crypto of yesterday will fade. a ton of news flow has destroyed almost all of the arguments for buying it/holding it. and that news flow is just getting warmed up.

crypto of tomorrow will look nothing like the crypto of yesterday. it will be openly gov/banker owned/operated (as opposed to the hidden hand of yesterday crypto)

many crypto holders will be in denial, refusing to let go of their previous notions, fighting the urges to conclude that they were wrong. we see the same behavior in the covid makks/injection dupes - clinging to their original view

crypto pushers will have to deal with the guilt - that they helped bring in the ultimate in communist surveillance/punishment 'money'

CBDC's are not the same thing as decentralized cryptocurrency.

 

[ZZZZZ]

Exactly where in the US Constitution does the Federal Goobermint have the authority to regulate private "money?"

Ohhhhhh never mind.
.
.

 

[Lancers32]

Because the shitbags want to force people into them...obviously. ...and they will not be forcing people into bitcoin, ETH, monero, binance, etc...they'll try to force people into tyrannical garbage...like XRP and CBDC.

Government doing what government always does. Lying and stealing.

You can get XRP dogshit on coinbase, I believe. I have some in a wallet I haven't touched in several years. Ripple is complete centralized garbage. So yeah, naturally goobermint loves it.

I can see you are not a fan of the ISO cryptos. Do you think Bitcoin and the like are any more than speculative instruments? You can't buy a house or a car or pay any bills at this point with it. I don't think it is a store of value so what is the purpose of it? I think the government wants to push people into their money whatever that might be I don't think they have a vested interest in putting people into XRP or XLM.

 

[solarion]

I'm not a fan of centralized garbage. If you study the ripple architecture you'll find they're bankster creations top to bottom. They do not eliminate the need for banks at all...rather they lower the cost of centralized banking. XRP is the exact opposite of what bitcoin was created to accomplish.

...and I store wealth in bitcoin and shop with them constantly. I can go buy 25k in metals in one order while paying a transaction fee of 0.02% at any point. If I try that with my own debit card it's blocked. Believe me, I've tried it. The only people that say stuff like "you can't buy anything with bitcoin" are the people that have never tried to buy anything with bitcoin.

...and next someone will tell me that the store converts bitcoin into fiats using a payment processor, so it's not like buying things in bitcoin. While that may or may not be true(bitpay clients get to choose this), it doesn't change the fact that I'm storing my wealth in bitcoin...not dollars and converting them into goods and services at my discretion without ever dealing with a bank. That means I avoided the inflation tax entirely.

 

[ds_mustang]

I'm not a fan of centralized garbage. If you study the ripple architecture you'll find they're bankster creations top to bottom. They do not eliminate the need for banks at all...rather they lower the cost of centralized banking. XRP is the exact opposite of what bitcoin was created to accomplish.

...and I store wealth in bitcoin and shop with them constantly. I can go buy 25k in metals in one order while paying a transaction fee of 0.02% at any point. If I try that with my own debit card it's blocked. Believe me, I've tried it. The only people that say stuff like "you can't buy anything with bitcoin" are the people that have never tried to buy anything with bitcoin.

...and next someone will tell me that the store converts bitcoin into fiats using a payment processor, so it's not like buying things in bitcoin. While that may or may not be true(bitpay clients get to choose this), it doesn't change the fact that I'm storing my wealth in bitcoin...not dollars and converting them into goods and services at my discretion without ever dealing with a bank. That means I avoided the inflation tax entirely.

I don't know why you'd buy anything with crypto anyway. Buying stuff is for dollars and other depreciating fiat you want to get rid of. My crypto makes me income that I live on and has been going up over time on top of that. For similar reasons you don't sell property in good locations... it goes up over time and brings in income in the meantime. You don't sell your seed corn.

Stake crypto and then buy gold with the staking returns. If you're aggressive, buy gold-backed crypto with the staking returns and then stake the gold-backed crypto to make even more.

 

[solarion]

I've told you several times. I buy metals with crypto when I think the risk of holding crypto is very high...as it was when bitcoin was > 58k and < 70k. During that time I was swapping bitcoin for silver, platinum, and gold to reduce risk. I'll take 2400 ounces of silver for a bitcoin all day...every day...and that's precisely what I did.

Several months later and the same bitcoin only buys 1327 ounces of the very same sovereign 1oz silver coins. It's called risk management, and I cannot figure out why everyone understands the implications of the GSR, but somehow can't fathom ratios when it comes to bitcoin, ETH, etc.

Bitcoin now has to get back to 75k to buy the same 2400 ounces of silver. I don't see that happening in the near term and think it likely silver will deliver better returns against the dollar for some while. I don't generally hold any more dollars than I must because they're garbage. I rather store my wealth in things that preserve purchasing power.

 

[ds_mustang]

I've told you several times. I buy metals with crypto when I think the risk of holding crypto is very high...as it was when bitcoin was > 58k and < 70k. During that time I was swapping bitcoin for silver, platinum, and gold to reduce risk. I'll take 2400 ounces of silver for a bitcoin all day...every day...and that's precisely what I did.

Several months later and the same bitcoin only buys 1327 ounces of the very same sovereign 1oz silver coins. It's called risk management, and I cannot figure out why everyone understands the implications of the GSR, but somehow can't fathom ratios when it comes to bitcoin, ETH, etc.

Have you ever examined where you'd be with holding vs following that "risk reduction" strategy? Maybe "risk reduction" is doing the opposite.

And I don't generally trade ratios with PMs either, though I do tend to make sure I'm buying what's favorable at any particular time.

 

[newmisty]

View attachment 248594

 

[Bottom Feeder]

Would LOVE for someone to finally explain how cryptos are going to be controlled.

Make a crypto legal US currency.
Any other non-sovereign crypto is counterfeit.

What's the prison sentence for counterfeiting?

 

[solarion]

Have you ever examined where you'd be with holding vs following that "risk reduction" strategy? Maybe "risk reduction" is doing the opposite.

And I don't generally trade ratios with PMs either, though I do tend to make sure I'm buying what's favorable at any particular time.

Well the maths are not difficult. Had I simply held the bitcoin when it was clearly frothy, I'd have more bitcoin and less silver, platinum and gold. In terms of fiats the silver, gold, and platinum are worth more than the bitcoin I swapped for them.

Bitcoin returns have sucked compared to PMs over the past year...and I'm sure that surprises nobody. I still have bitcoin and other cryptos, I just prefer to trade things that are expensive for things that are cheap.

 

[spinalcracker]

I can see you are not a fan of the ISO cryptos. Do you think Bitcoin and the like are any more than speculative instruments? You can't buy a house or a car or pay any bills at this point with it. I don't think it is a store of value so what is the purpose of it? I think the government wants to push people into their money whatever that might be I don't think they have a vested interest in putting people into XRP or XLM.

who said one cannot buy a car with bitcoin?

Here’s 10 car dealers who do

10 Car Companies That Accept Bitcoin

You may have tons of Bitcoin and looking for a new car. Well these 10 companies including BMW and Tesla do accept it!

www.hotcars.com

 

[Lancers32]

Another question for you guys. If you thought Bitcoin was going a lot higher why wouldn't you just spend dollars and hold on to your cryptos? I mean if you found a silver dime on the ground would you spend that or a clad coin?

Buy a new car with Bitcoin? Wonderful. How many you gonna buy and I know the answer it is just being adopted. We'll see you think the government is gonna let you reside outside their system I do not.

 

[solarion]

I spend/exchange bitcoin, for things that I want/need when I think it's frothy and will soon be correcting. Now usually that's PM stacking, but not always. I've also exchange bitcoin for gyft cards, groceries, weapons, ammo, etc when I though bitcoin was ahead of itself...just like any other asset.

I do not store wealth in dollars, so I don't have all that many laying around to buy things with. I do this because dollars are melting dogshit and I do not like them.