Leading Democrats are continuing their criticism of cryptocurrency. A few weeks ago, the tyrant Queen of the big banks and Federal Reserve, Elizabeth Warren, spewed lies about Bitcoin and cryptocurrency in a Senate meeting on central bank digital currency (CBDC) and continued to spew lies in interviews for the lying media afterward. Now, Maxine Waters and other House Democrats want part of the action too. This follows from Brad Sherman’s (D-CA) 2019 call for banning Bitcoin.
For a party that supposedly bills itself as progressive and favoring equity, it is ironic that they are targeting the greatest advancement of progressive enhancement and wealth equity in the world. Cryptocurrencies and their blockchain technologies not only represent a technology of freedom (something Democrats don’t really care for though they claim to), it is the technology of progressive and wealth redistribution. Cryptocurrency, more than any regulatory body or government, will facilitate the greatest wealth redistribution in the history of the world. And, by the way, it is the developing world that will gain the most from it. Unbanked people around the world, the middleclass, and the working class can finally have a fair and honest shot at improving their lives without global financial institutions and intermediaries keeping them sealed out of the cathedral of wealth. No more high fees for remittances among foreign workers. No more fiat devaluation and inflation. No more dependency on developed economies and gangster institutions like the IMF and the World Bank.
The problem that Democrats have over the rise of cryptocurrency is that it is not the government that will get rich and gain greater control to facilitate wealth redistribution (not that the government really does that to begin with, it rather keeps the poor poor and the powerful powerful cloaked in a veil of self-righteous virtue while claiming to help the poor to stay in power). Since the Democrats are really the party of government control, instead of government assistance, anything that exists outside of their control that will steal their thunder over wealth redistribution gets them angry. Hence they clamor for regulation, control, even bans! Just because people take their own destiny and progressive enhancement into their own hands, the petty tyrants in the Democratic Party get mad. Wealth redistribution in a decentralized manner is anathema to the Democrats.
Cryptocurrency is a once in a generation, once in a century, opportunity to actually empower the disempowered, disrupt the status-quo, and facilitate greater global interconnectivity. For the party that talks the most about helping the disempowered, confronting the status-quo, and defending international globalism, it is truly rich (pardon the pun) that they are now the most antagonistic toward cryptocurrency. Yet this isn’t surprising for those not blinded by the servile media and the deceptive deceit of so-called liberal parties. The problem, as stated, is that individuals—free from government bureaucracy, free from institutional banks, free from centralized policy-making—are advancing their own personal enhancement without the constrictive “help” of a political party or a bureaucratic apparatus. If it’s not the government who facilitates “progress,” well, we cannot have progress! It is good, however, that so many Democrats are revealing themselves to be hacks for the legacy financial and warfare-welfare state which they always have been despite the public belief to the contrary.
Hesiod, Paul Krause in real life, is the editor of VoegelinView and a writer on art, culture, literature, politics, and religion for numerous journals, magazines, and newspapers. He is the author of The Odyssey of Love and the Politics of Plato, and a contributor to the College Lecture Today and the forthcoming book Diseases, Disasters, and Political Theory. He holds master’s degrees in philosophy and theology (biblical & religious studies) from the University of Buckingham and Yale, and a bachelor’s degree in economics, history, and philosophy from Baldwin Wallace University.
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