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This is How They Will Control You
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We are moving to a world of programable money. Money with restrictions. Modern monetary theory advocates for ubi or universal basic income where the government pays you monthly. As the fiat system is being destroyed UBI will be implemented to counteract inflation. This money will come with strings. Where you can only use it on a certain goods or services giving control of the economy to the central planners. In order to shape human behaviors.
The travel rule is a law that requires centralized exchanges to share information about their customers with each other. Every crypto transaction on public chains is recorded. This information is out in the open for anyone to look at. This means surveillance of all wallets without the need for a warrant.
A fed coin or private innovation? Private innovation allows coemption and specific use cases to emerge. Where the protocols that house these applications will gain network effects and become standards. But with the lens of control public chains allow data to be public. Every transaction your crypto wallet is hosted on the blockchain for anybody or entity to analyze. And artificial intelligence is studying every transaction looking for bad guys. As AI becomes cheaper there will be firms studying these transactions for other reasons.
Anne Neubergeer is the NSAs Deputy of cyber and Emerging technology under the Biden administration. On August 3 2021 she spoke at the aspen security forum along side of Gary Gensler and Brad Garlinghouse. Technology is a matter of national security because we are in a new cold war 2.0. This is why we have seen the Chips act pass and executive order for Quantum as well as an executive order for crypto assets and digital currencies. Crypto is intertwined into this cold war we are facing today.
The exchanges will work closely with the government if a wallet is flagged for suspicious activity they ask one of the exchanges to identify the wallet and it leads to the account of the person. The on and off ramps are closely monitored
Ray Dalio has said
There's a trade war, a technology war, a geopolitical influence war, a capital war and could be a military war.
The biggest concern to Dileep Singh which is the economic advisor under Biden is digital currencies for cross border use. China has had the lead with their cbdc as digital currencies are used at scale for cross border standards will form around the first movers. This is a problem for the US. The US has always had the high ground in the financial system and if the US is slow to the digital currency place the first movers will have the high ground.
The big banks and institutions hired lobbyist groups to delay this innovation because it cuts into their business. Regulation for crypto will come because this is a matter of national security.
As the fed fights inflation, the markets will sell off and this allows overvalued assets to become fairly or undervalued. As assets lose nominal value this puts pressure on the big banks and on the markets eventually something will break and the fed will have to reverse course. 2008 taught us that asset prices can not fall yet they are today. Eventually something will break and they will continue printing money.
#bitcoin #xrp #trading
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