Wednesday, March 15, 2023

A central government power grab over our money?

 

I urge you to take four and a half minutes to watch this clip of Tucker Carlson interviewing South Dakota Governor Kristi Noem.  She's just vetoed a bill that would have redefined "currency" to exclude Bitcoin and other cryptocurrencies, leaving a Central Bank Digital Currency (CBDC) as the only legitimate digital currency available (if - or, more likely, when - it's released).  This poses a real threat to our control over our own money and what we're allowed to do with it.




Sundance points out that similar legislation has been introduced in more than 20 states.  He adds:


Additionally, with the timing of this national revision taking place very quietly; and with the failure of SVB and Signature Bank following a few weeks later; and with specific impacts to the cyptocurrency market; one is left wondering if the current bank “failure” and Biden team intervention was not an intentional crisis with a motive to push government controlled central bank digital currencies into the mainstream.

In essence, was the SVB banking collapse, a designed crisis?  And as a result, was the federal government response predetermined and just waiting to be triggered?


There's more at the link.

Sundance's perspective is enhanced by a statement from former Congressman Barney Frank.


A regulatory takeover of a New York-based bank was intended to send a message to U.S. banks to stay away from the cryptocurrency business, a former member of Congress who was on the bank’s board says.

Former U.S. Rep. Barney Frank said Monday that he believes the state officials behind the action were trying to make an example of Signature Bank in takeover that he said was the wrong move. Despite a wave of withdrawals, the bank's situation was under control before regulators swooped in, he said.

“This was just a way to tell people, ‘We don’t want you dealing with crypto,’” Frank said in an interview.


Again, more at the link.

Putting it all together, one is left with a very uncomfortable feeling.  I think the shady "gray eminences" behind the US government are at it again.  Will enough State governors and legislators have the same willingness to stand up for their citizens' rights as Governor Noem of South Dakota?  One hopes so.

Peter


8 comments:

  1. https://www.cnbc.com/2023/03/14/chuck-schumer-to-return-silicon-valley-bank-donations.html?&qsearchterm=chuck%20schumer
    Why worry about where ones political contributions come from? He wasn't the only one.

    ReplyDelete
  2. Somebody’s paying $ to push this legislation.

    Who?

    Crypto seems to be full of pump and dump schemes. Bitcoin is the exception. WEF is pushing a centralized digital currency around the world, even African Countries. This way what Canada did to the truckers, can be expanded. Plus it increases their ability to manage an economy.

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  3. Barney Frank, the prime cause of the 2008 financial collapse, is still alive? Why does evil live sooo long, like BF and Hanoi Jane?

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  4. Yes, they are pushing this hard and I wonder if/how we will be able to doge this bullet.

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  5. Texas HB5011 and SB2075 are the ones that have this language in them. I wrote by Texas Representative and will write by Texas Senator later to say remove the offending sentence from the definitions or just kill the Bill.

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  6. Thank God for one Governor who sees whatnthis is, andbacts accordingly....

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  7. While I have no trust in politicians, it is worth remembering that Banks have been going broke since Banks were invented.

    Yes, I know that making this point may not be popular in certain circles, but the old principle that incompetence causes more disasters than malevolence, comes to mind.

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  8. Ok….
    It looks like SVB was far more exposed to negative repercussions of interest rate rises than most Banks. The article below is not the first place that I’ve seen this.

    So when I suggested that we consider incompetence as the cause, we have three potential culprits.
    1. SVB Management who made their investments without due foresight. (It has happened before.)
    2. Those responsible for the regulation of Banks, for permitting this high-risk investment.
    3. The Biden administration whose policies and spending habits have created the inflation that led to rising interest rates.

    No conspiracy or malevolence is required.

    https://wattsupwiththat.com/2023/03/12/silicon-valley-bank-collapse-caused-by-managerial-esg-climate-activism/

    ReplyDelete

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