By James C. Frasure III – InnerKwest
Governments around the world are grappling and intimidated at the prospects of cryptocurrency mass adoption as a viable, robust, and decentralized platform for “mediums of exchange”.
The systemic coding of fiat currencies undoubtedly maintain structures which controls populations, allowing a few to manipulate market resources and hyper-profit off those most affected by economic fluctuations and market volatility.
One example is the American banking system. American banks make billions off client deposits while delivering miniscule returns. The banks in America impose over-taxing fees on the bank accounts of its customers.
When engaging African American bank customers, banks discriminate loaning Blacks their own money. It is a fact banks in the U.S. have failed Blacks, yet they require Blacks to jumps through hoops for their own money.
Another prime example is the financial system in India. The Indian Banks Association on Feb 14, a central bank official proposed a complete ban on all private cryptocurrencies in the country, citing significant risks to financial stability.
Again, countries manipulate and contain its citizenry with its fiat currency. Those that have remain at the top, while those that are marginalized realize a generational wealth-gap which can be directly attributed to social, mental, and physical health disparities.
Update February 21,2022: Proposed Russian crypto regulations to require online exams for investors (citizens).
A new draft proposal for crypto regulations in Russia could see citizens tasked with taking online tests before being allowed to invest in cryptocurrencies. This stipulation is part of plans to create a legal framework for virtual currencies in the country.
According to Russia’s finance ministry on Monday, the testing requirement is to ensure that citizens are acquainted with the risks associated with crypto investing. If the proposal is passed, Russians will have to take an online test before they can buy crypto
Those who pass the test will be able to buy up to 600,000 rubles ($7,500) worth of crypto annually. Conversely, those who fail the test will see their annual crypto investment threshold limited to 50,000 rubles ($630). The perfect example of fiat currency control over the masses.
In other words Putin will go to any extreme to keep a tight control over the average Russian.
The mass adoption of crypto currency challenges the power of the financially affluent which own the banks and fund political governance.
Bank lobbies around the world are attempting to remind governments where their allegiances should remain, all the while politicians make attempts to figure how they can capitalize on this new era of wealth redistribution.
Blacks must acquire crypto-currency knowledge
Forty acres and a mule did not happen, nor did any other promises to address the quantum harm done to generations of Blacks which continue to manifest in Black families to date.
The thought of reparations to Blacks send whites into total denial about anything related to Black history and Black futures.
Decentralization and anonymity are among two of the features that governments feel most threatened. Governments want to account for every transactional decimal of its citizens, while politicians openly execute insider trading to guarantee returns which average stock buyer/holder would be sentence to jail and absorbent fines for the same insider transactional activities.
Beneficiaries of the current system hate crypto
Billionaire businessman Charlie Munger insists that cryptocurrencies are depraved and that one of the biggest mistakes of the century was governments providing them with an ideal environment to thrive.
Munger who is also the vice-chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett, noted that he and Buffett were very well aware of what was happening and that they still believed that cryptocurrencies like Bitcoin were a disaster in waiting.
What would you expect from elitist?
What would you expect from people and corporations that have been favored and rewarded by a current system of perpetual financial containment. Please let’s not forget that America was formed by crime syndicates, European rejects, and ruthless criminal elements. Case and point, the Trumps, Kennedys, Ford, George Washington and centuries of countless others.
What is a bitcoin “sat”? A sat is a small denomination of Bitcoin. Acquaint yourself with the new way in which money is being redefined. Those that wait or resist learning the path of the future will be left behind to the savagery of the current banking system which benefits the one percent exclusively.