Last Updated on June 14, 2021
Globalists are launching a concerted effort to undermine and even potentially criminalize Bitcoin as the global finance class fears that their grasp on currency power might be slipping. Finance class stooges including Sen. Elizabeth Warren, Treasury Secretary Janet Yellen, and Federal Reserve chairman Jerome Powell are spouting increasingly desperate rationalizations for why Bitcoin is supposedly bad. Bitcoin enthusiasts see the cryptocurrency as a potential replacement for paper money if the dollar and other currencies crash during the almost certain financial instability that lies ahead of us.
“I also think with bitcoin, and with the other cryptocurrencies, I think there’s a real issue about the environmental impact as well, this whole notion of how much energy is consumed just to keep the currency tracking going,” said the Massachusetts Democrat senator Elizabeth Warren, who proved herself to be a puppet for Wall Street when she demanded that the Securities and Exchange Commission (SEC) step in when populist Redditors bought GameStop stock to short-squeeze the hedge fund Melvin Capital, which tried unsuccessfully to tank GameStop. “You don’t consume that kind of energy, in order to have money on deposit at a bank or a mutual fund. In that sense, bitcoin is very different and in a 21st century, we’re becoming a lot more sensitive to the worldwide impacts of the choices we make.”
“Bitcoin uses more electricity per transaction than any other method known to mankind, and so it’s not a great climate thing,” said billionaire and genetically-modified mosquito army funder Bill Gates in an interview. Meanwhile, Dr. Darrell Duffie laid out criteria for criminalizing Bitcoin in a dopey U.S. Senate virtual hearing.
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Treasury Secretary Janet Yellen smeared cryptocurrency across the board in her Senate confirmation hearing, stating, “You’re absolutely right that the technologies to accomplish this change over time, and we need to make sure that our methods for dealing with these matters, with terrorist financing, change along with changing technology. Cryptocurrencies are a particular concern. I think many are used – at least in a transaction sense – mainly for illicit financing.”
In a typically stuffy appearance on CNBC, Yellen said, “I don’t think that bitcoin … is widely used as a transaction mechanism. To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”
Federal Reserve chairman Jerome Powell griped about cryptocurrencies, “They’re highly volatile, see Bitcoin, and therefore not really useful as a store of value. They’re more of an asset for speculation. So they’re also not particularly in use as a means of payment. … It’s essentially a substitute for gold rather than for the dollar.” Powell’s snotty remarks were credited with a subsequent Bitcoin price drop.
But Bitcoin believers are not backing down. Economist Max Keiser ripped up paper money on a CNBC broadcast and declared “He who has the bitcoin makes the laws” after a television media person warned him that ripping up paper money is allegedly illegal. Keiser is best known for his campaign to “Crash JP Morgan-Buy Silver,” which he broadcast on The Alex Jones Show.
Twitter’s CEO Jack Dorsey moving into the Bitcoin world, with a planned multi-million dollar investment in bitcoin mining, is disturbing for some Bitcoin people, because the globalists are always trying to infiltrate and co-opt alternative currency movements. Even President Donald Trump denounced Bitcoin, signaling that major financial institutions are getting concerned about the rise of cryptocurrency. But Bitcoin optimists see the establishment’s fear as a good thing, meaning that Bitcoin is effective and so powerful that it is now making the elites get nervous. This debate will continue to play out as global financial systems become very uncertain and globalists including Biden’s Energy Secretary, left-winger Jennifer Granholm, hint at possible upcoming disturbances to the electric grid.
