The U.S. Is Now in An All-out War on Crypto. There Will Be Blood.

I’ve written a lot about Central Bank Digital Currencies (CBDCs) including the U.S. dollar version that we call Biden Bucks.

The threat from CBDCs is enormous. They are digital (but not true cryptocurrencies), which means they are programmable. The Treasury and Fed can use the CBDC ledger to track your purchases, look at your political contributions, look at your religious affiliations, and basically profile you as an enemy of the state or Ultra MAGA.

This profiling can be combined with artificial intelligence (AI) and generative pre-trained transformer platforms (GPT) to practically read your mind. From there, the government can freeze your bank accounts, impose taxes and penalties, and put you on a “use-it-or-lose-it” fiscal policy stimulus plan that forces you to spend your money within 30 days or have it partially confiscated.

As the CBDC dollar is being implemented, it’s important for the government to take away your alternatives. The three main alternatives are physical cash, gold, and cryptocurrencies.

Cash is under attack through multiple channels including “no cash accepted” signs at public events, anti-money laundering rules, and simple inflation that might allow you to hold cash, but it won’t be worth very much. (In 1968, the U.S. abolished the $500 bill, leaving the $100 bill as the highest denomination. The $100 bill of 1968 is only worth $20 in today’s purchasing power because of inflation. Give it time and it won’t be worth much more than a $5 bill).

And, as described in this article, cryptocurrencies are also under full-scale attack. The article reports that the U.S. Securities and Exchange Commission (SEC) has sued Binance, the world’s biggest cryptocurrency exchange, and its founder Changpeng Zhao, alleging they operated a “web of deception.”

Among the 13 other counts in the lawsuit are allegations that Binance inflated trading volumes, mishandled customer funds, and misled investors about market surveillance controls. Just one day later, the SEC also sued the Coinbase crypto exchange for failure to register as an exchange under U.S. law.

During the wave of bank failures in early March, the FDIC closed Signature Bank, which operated a crypto-currency portal called Signet in addition to normal banking activities. That came days after the failure of Silvergate Bank, which also bridged the normal banking world to the world of crypto.

None of this is random. The U.S. has opened a full-scale war on crypto. The Silvergate, Signature, Binance, and Coinbase cases are just the first victims. They won’t be the last. If cash and crypto are under attack, the only alternative is gold. Get some before it’s too late.

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