People Seriously Question Cryptocurrency?

Those of us who are involved with cryptocurrency for any length of time know that the attacks launched by the establishment are legendary. What is ironic is they make these statements with a straight face.

We are now entering the realm absurd.

As we all know, the mainstream is telling us how well things are doing. Consumer spending is strong with record low unemployment. Historic interest rates are allowing for borrowers to "save" by reducing their payments. This is spurring on a strong real estate market along with driving the stock market up.

If this is all the case, then the action by the central bank makes one really scratch one's head.

Source

For those who are unaware, the New York Fed pushed $75B into the over night markets due to a lack of liquidity.

As I side note, I wish Warren Buffett and Donald Trump would tell us where this money came from. Perhaps something about "thin air" is applicable.

Essentially, it was providing this money to enable banks to provide short term loans to each other. The entities post bonds and other securities as collateral in exchange for the cash.

This is a short term market. None of this is a problem unless it extends for a period of time.

The challenge with all of this is a move like this was not required since the last financial crisis. A decade ago showed us what happens when markets freeze and liquidity dries up.

Of course, things just get better. Good old Donald Trump feels he is entitled to Eric Snowden's money. The United States is a bit upset that he wrote a book and is profiting from his time in working as a contractor for the NSA.

Specifically, the U.S. Attorney’s Office for the Eastern District of Virginia and the Department of Justice’s Civil Division has filed a lawsuit against Snowden, an ex-employee of the Central Intelligence Agency and ex-contractor of the National Security Agency seeking to prevent the whistleblower from profiting from the sales of his recently released book, Permanent Record.

Snowden, to his credit, had a very logical response.

https://www.ccn.com/snowden-bitcoin-pump-book-cash/

Of course, this is not the first time this happened. It was just recently that the same President Trump decided to take all the assets Venezuela had in the United States. Seizure is something that governments specialize in. If it is on their radar, they will can get their hands on it.

This is what makes the questioning of cryptocurrency so absurd. Each day we see governments and other entities around the world acting even more barbaric. Between their printing of worthless fiat or direct seizure, the end result is the same: it leaves people broke.

Anyone who has their wealth in the system is at risk of this. The powers that are, primarily the United States, spent a lot of time erecting a system which it can control. Bank accounts can be seized with funds frozen (or cleaned out).

The same is not true of cryptocurrency. When a token is on a decentralized network, there is no institution that can close the account. Money cannot be frozen nor can accounts be cleaned out. It is the ideal defense against what is taking place.

We also see cryptocurrency inflation rates programmed into the blockchain. Thus, the ability to "print" money on a whim is not possible. Bankers, of course, hate all of this since it prevents them from playing their games which line their pockets at the expense of everyone else.

Tokens = Freedom

This is an important point that we all need to keep at the forefront of our minds. No matter how big and strong an institution is, it is completely powerless against a cryptocurrency wallet on a decentralized network. There is no single point of access which makes take down impossible. Of course, if one is keeping tokens on a centralized exchange, this negates the entire benefit of a decentralized currency.

The world is only starting to realize how bad things truly are. Naturally, while we are seeing people waking up, it is slow. Most are still completely asleep. I firmly believe the next recession will be a total eye opener for people. Of course, for many, it will be too late by the time they emerge from their slumber.

At the same time, the establishment is getting very desperate. Many institutions like the banks and governments, are only starting to see what is coming for them. Much like the information purveyors of a couple decades ago, they, too, are powerless to stop what is happening.

Each day, more cryptocurrency is placed into the wallets of average people around the world. While the establishment is attacking, the absurd behavior is pushing more people in this direction. With each development, the alternative system which is being erected gets a bit stronger.

Perhaps cryptocurrency's greatest marketing tool is the establishment itself.

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