Joe Biden checks his watch during ceremony for Marines killed in Afghanistan Because Joe Bidens botched withdrawal

Joe Biden checks his watch during ceremony for Marines killed in Afghanistan Because Joe Bidens botched withdrawal

Behind The 8-Ball as usual: As the price of Bitcoin slides – The idiots in the White House are set to release an executive order on cryptocurrencies as early as February – January 24, 2022,

I’m not sure if it’s intentional or plain stupidity. But since the Federal Reserve announced changes to its dovish policies, tech stocks have been selling off, but as many of us expect, the Federal Reserve can’t aggressively cut rates and the government most likely will not cut back on regulations, which equates to more government spending and more inflation. To date, government spending has really helped the price of Bitcoin.

When Donald Trump and Justin Trudeau began sending citizens free money for doing nothing, a lot of that money found its way into cryptocurrencies, my assumption is that we’re headed there again, Hollywood villain turned Governor of California Gavin Newsom sent Californians “free” cheques in the mail prior to the recall, I expect Joe Biden will attempt to do something similar in the mid-terms.

Blatant vote-buying didn’t work for Trump, but it did work for Justin Trudeau in Canada, who won re-election in Canada soon after he sent Canadians free cheques. So what does this have to do with Bitcoin? Well, I assume the people in the White House have noticed the correlation between government stimulus and the price of cryptocurrencies and I assume that they’re going to want to tax cryptos or create some regulation that operates as a tax.

There are talks about a Central Bank Digital Currency(CBDC) and I personally assume the early launch of CBDC’s will make them a food stamp dollar or something like that. I’m not entirely sure the Federal Reserve or the U.S government want to dump their U.S fiat dollar hegemony just yet. America is one of the few countries in which the people hoard a lot of physical cash.

Making matters worse for the government are all the Gold and Silver holdings and financially literate America’s who can counter any financial chess move the U.S government throws at them. Money as I like point out is nothing more than a convenient form of bartering, yes, Fiat money has created all sorts of exotic financial instruments, but the white house is playing with fire if they refuse to cut back on government spending.

Ultimately what this means for Bitcoin and other cryptos is potentially some sort of regulation, while it’s going through a deflationary spiral and because the price of Bitcoin is going downward, a regulation, depending on what it is could be either good or bad. Good in the sense that even if it’s a tax, if Biden starts buying votes for the next 3 years, and the price of Bitcoin skyrockets, some people will gladly pay the tax, bad in the sense that consumer price inflation will make Bidens vote-buying purchase fewer goods and services, and America is already experiencing shortages?

So if inflation continues to run rampant, the rising price of Bitcoin will benefit FEWER people. As I’ve stated for years now, we’re headed for austerity measures but how long it takes us to get there is anyone’s guess. No government wants to shrink, and people in debt or on welfare will vote to keep their perks. So this is the ECONOMIC DEFLATION that we’re headed for. How governments deal with economic deflation in the modern era is printing money, which prior to the additional regulations on the economy had little effect on consumer prices.

But Joe Biden is an economic idiot and he slew the goose that lays the golden eggs, Joe Biden went to war with fossil fuels, I’m sure Biden’s idiot staff will likely point to the pollution caused by Bitcoin, as a reason to regulate it, but who cares, Joe Biden has created an economy in which the COST OF DOING BUSINESS is likely to rise and instead of arguing with the government, who claim that businesses are unfairly raising prices, some business will simply cease to exist.

13 U.S. troops killed in the Kabul suicide bombing many more wounded because of Joe Biden

13 U.S. troops killed in the Kabul suicide bombing many more wounded because of Joe Biden

It’s not like businesses haven’t experienced government stupidity before, many of us talk at length about the minimum wage. Most financial ignorants don’t understand that if a business can’t be profitable, the business persons won’t take the risks of being in business. Financial idiots assume that business people have a limitless money supply, they don’t, resources are scarce, and business people take risks when they use the money they own to buy things they HOPE people will buy.

Well, as we know, if a government creates a law that makes certain goods or services illegal or more expensive to produce, the business person just like a stock investor will cut their losses and shut down operations. So this again could fuel more shortages and no matter how much money you have, shortages are shortages. Now, because of the U.S dollar hegemony, it’s hard for Americans to imagine the U.S dollar not being able to buy the things they need, but that’s what Big Government does, it looks for ENEMIES to destroy.

Anyway, these regulations announcements don’t necessarily mean that you should sell your Bitcoins because I personally suspect Joe Biden will send people checks in the mail near the midterms which might have a stimulating effect on the crypto markets. Don’t take what I’m writing in this post as investment advice. Contact your financial planner or a professional you trust.

The White House is set to release an executive order on cryptocurrencies as early as February, report says | businessinsider.com

Interesting times ahead!