Posted 2 weeks ago | by Catoshi Nakamoto
The evil witch of the west, Hillary Clinton, believes that widespread adoption could undermine traditional currencies, including the dollar, which as a result would destabilize nations.
Hillary Clinton Challenges Cryptocurrency
Former U.S. Secretary of State and Democratic presidential candidate Hillary Clinton has expressed that she is worried about cryptocurrencies’ potential impact on nations and that countries should monitor crypto’s rise. While speaking via video stream at a panel discussion by Bloomberg called the “New Economy Forum” in Singapore, Clinton reportedly declared that crypto had the potential to undermine the U.S. dollar as the world reserve currency, adding that it could “destabilize nations.”
“One more area that I hope nation-states start paying greater attention to is the rise of cryptocurrency — because what looks like a very interesting and somewhat exotic effort to literally mine new coins in order to trade with them has the potential for undermining currencies, for undermining the role of the dollar as the reserve currency, for destabilizing nations, perhaps starting with small ones but going much larger,” Clinton said.
It’s worth noting that Hillary’s husband Bill Clinton, previously spoke at a 2018 Ripple conference where he said that the blockchain industry must “weed out fraud, crime and money laundering to realize the technology’s potential.” Bill further added that we needed to protect “the golden goose” referencing blockchain.
On the other hand, Hillary seems to be attacking “the golden goose,” as the politicians realize what’s happening before their very eyes. The world is becoming free from its financial shackles. As a result politicians like Hillary Clinton are losing their power at a quickening pace. But it’s not just the politicians losing power put bluntly Hillary Clinton is actually half right. Cryptocurrencies specifically Bitcoin can disrupt the global financial structure and destabilize nations. That’s a good thing as the banksters are losing their power as well.
Where she is wrong though is It’s not only crypto destroying nation-states’ currencies. It’s the nation-states printing large sums of money burying their people in inflation themselves. As a result, people around the world have lost faith in government economic policies and turned to dog money as parody rapper Remy jokes.
Bitcoin and cryptocurrency is meant to empower individuals and if it’s not clear people are sick of their governments and their central bank overlords printing money non-stop which causes inflation. Ironically another comment made by Hillary on decentralization seems to indicate that she knows that Bitcoin’s decentralization is a threat to nation states control of money.
“Nation States have got to pay greater attention to the rise of asymmetric power centers,” Hillary stated. “Ironically, the threats Bitcoin poses to nation states are predicated on its decentralization,” she added.
Hillary also mentioned disinformation warning that the practice of sperading fake information in the political and economic sphere is only going to get worse. However, It is unknown what disinformation in the economic sphere she is talking about. Unless she means government economic policies by the Federal Reserve to continue covering up inflation, while signaling that we are about to go through a period of deflation with the beginning of tapering.
Clinton’s comments come after U.S. President Joe Biden passed a controversial crypto tax reporting requirement bundled in the $1 trillion bipartisan infrastructure bill as Bitboy Crypto reported. According to the bill, starting in 2023, crypto brokers will need to disclose customers’ names, addresses, phone numbers, capital gains, and losses to the Internal Revenue Service (IRS). Further, any entities receiving crypto payments worth more than $10,000 will have to reveal the sender’s identity to the U.S. government, which many argue is impossible knowledge for crypto miners and staking/nodes.
Bitcoin is currently trading at [FIAT: $59,680.34] +3.1% in the last 24 hours according to Coingecko at the time of this report.