Bitcoin’s adoption by Wall St. is dangerous. Free trade and free markets don’t exist. A lot like Santa and The Easter Bunny. They are all nice stories, but none of these things are real. Now the free market is embracing cryptos via ETFs.
Don’t believe the hype!
Wall St. isn’t adopting Bitcoin. The banking cartel isn’t turning over a new leaf, and loving decentralization. Now, with Wall St. money connected directly to BTC and ETH with numerous ETFs, Wall St. can set the price of the major cryptos to any level it wants.
The war is over, and Wall St. won.
People Love Centralized Systems
When things go wrong – society needs someone to blame.
Someone must be responsible for this mess!
Unfortunately, most problems we have today exist at a system level. Global war is a business. It is a part of our global economic system. The same thing is true about fiat currency.
As the 20th century went on, and especially after WW2, systems became more centralized. Now, we have a world in which most important systems are controlled by a permanent bureaucracy, or massive companies.
The size of the systems we are describing are difficult to understand. But we (as a race) created the largest interconnected system in human history over the past century. Today, we are entering a phase change.
At the moment, it appears that decentralization has been discarded in favor of a hyper-centralized future. We are living in the times of growing global feudalism. The scary part is that people want to be neo-serfs.
Bitcoin Was A Test
Bitcoin could have displaced the global banking cartel. It will never be able to create a decentralized revolution now. Humans chose to keep using fiat currency, and supporting a system that is a few steps away from feudalism (a serf and a slave aren’t very different BTW).
The Great Reset is techno-feudalism. Slavery is the choice humanity made in the past 20 years. It isn’t a theory and we aren’t taking anything out of context. You can read it all here. The Great Reset is a gameplan from some of the most powerful people in global social planning.
Bitcoin is an antidote turned venom. We stand on the precipice of rapid change. Few will like the direction that change takes – and the terms of the new “social contract”.
1st Order Consequences
The most immediate issue for crypto investors is that Wall St. can effectively control prices in the crypto market. This has all happened before, and the banking cartel knows exactly how to fix prices. Ever since Nixon went off the gold standard in 1971 – the banking cartel has been fixing the gold price.
You can read about how the banking cartel fixes gold prices right here!
If you don’t have time to spend perusing GATA’s outstanding research – trust us – there has been extensive collusion at the highest levels of the Western financial system to suppress gold and silver prices.
Now, the cartel has a new target – cryptos.
Everyone who knows cryptos knows that Bitcoin leads the market. Sometimes smaller tokens can rally a lot when Bitcoin moves up a little, but it is very rare for tokens to move up when Bitcoin is in a bear market.
We know – for a fact – that the US allowed the introduction of Bitcoin derivatives in 2017 to pop the $20,000 BTC bubble.
Christopher Giancarlo, the former chairman of the US Commodity Futures Trading Commission (CFTC) told media that, “One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the (National Economic Council) director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked.”
The above statement is a direct admission of market manipulation. It is also an admission of intent. The US government worked to impact the price of Bitcoin via market manipulation.
A big enough short position can crush prices in any market. Welcome to the future of crypto prices.
The Free Money Machine
The banking cartel can create as much money as it wants. Period. Problems arise when that money chases good and services in the real world. We call it inflation. The easy money policies during COVID19 were an issue.
When the economy is effectively shut down, and free money hits the streets, inflation will bite!
The current problem is, all that COVID19 money didn’t go anywhere. It was passed up the economic ladder (people buying crap on Amazon) but it didn’t leave the global economy. Now, with most of the money in the hands of the top 1% and their companies, we have reached an impasse.
The money must flow…
Controlling the creation, flow and direction of money is how the banking cartel retains its power. Now, the free money machine wants to reinvent the nature of money, and how people are allowed to own property.
Apparently people will go along with anything, just look at what happened during the pandemic. The next step in creating global feudalism will be shocking, and there is nowhere left to hide.
The Big Bull Market
Cryptos don’t exist – and Wall St. loves it!
Much like fiat currency, Bitcoin is data. While it is true that Bitcoin is created in a different way compared to fiat currency – at the end of the day – both assets are data and nothing more.
Assets like gold, real estate, and coffee all have physical existence. Digital assets do not. In addition, most people don’t own or use cryptos. If BTC shot up to $100,000,000 per Bitcoin, the wider world would be relatively unaffected.
If 2017 and the 2020 DeFi boom were tests – the only thing that higher crypto prices mean is more lambos hitting the street – and maybe a few more yachts changing hands.
While gold and silver were held down for decades – cryptos may serve the opposite function.
Here is a scenario for you:
There is a lot of fiat currency out there – and not many Bitcoins. So, Wall St., the US government, and a few other players load up on BTC and some other leading tokens.
Under current models – US debts look totally unsustainable. But let’s say Wall St. decides that BTC, ETH, SOL and XRP are the place to be.
Prices explode. Forget about BTC at $100,000 – we are talking about a lot of zeros.
With the massive feeding frenzy – governments and banks unload their crypto holdings, making massive returns in the process. The stuff of legends. All that fiat currency is blasted at the huge debts that are owed by governments – and Bitcoin’s gains save the Western financial system.
Even better – the US, EU and Japan offer to convert their fiat debts into BTC-denominated paper. You can’t lose!
Of course, the whole deal is a hustle. As Wall St. sells – the suckers show up to pay off the governments’ debts. The whole deal would eliminate government debts, and suck up a huge amount of currency that is floating around the world.
Then – crypto prices implode.
Sorry BRICs – suck wind.
The USD is still king!
A happy ending?
The post Op-Ed: Bitcoin’s Wall Street Trap, The Illusion of Crypto Freedom appeared first on Blockonomi.
from Blockonomi https://ift.tt/W8lxIML