Did The Joe Biden Administration Just declare war on Bitcoin? Treasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions – February 22, 2021,

So Bitcoin and the entire cryptocurrency and blockchain community has created value where none existed prior and as per usual the government wants its cut. But because the governments of the world have figured out that regulating Bitcoin is damn near impossible, they’re instead attempting to create an atmosphere to hopefully turn people against cryptocurrencies.

So as per usual, the first thing the governments are doing is making announcements warning people about the supposed ‘dangers’ of using Bitcoin, the next thing you should expect to hear about are nefarious actions that occur because of Bitcoin, and then of course there’s the environmental effects of mining bitcoin, lastly expect the Federal Reserve and other central banks to start experimenting with their own versions of Bitcoin.

The Chinese Communist Party has seen the opportunity of Bitcoin and launched their own digital currency. Now, I personally am not a big fan of Bitcoin(I hate Bitcoin wallets), but I do believe it has a right to exist. I’ve stated over and over again that digital money allows the government to shut off your money supply.

The grid is centralized, most grids of the world are centralized which puts limitations on cryptocurrencies, but with that said it doesn’t mean that Cryptocurrencies don’t have a right to exist. For the most part, people involved in Bitcoin are a small part of the population and pose no threat to the current financial establishment, however, what I think bothers Janet Yellen about Bitcoin is the educational aspects of it.

You have to remember that Bitcoin and Bitcoiners are giving people an alternative view on money and our current monetary system. We all know the reason the price of Bitcoin continues to rise is that the Federal Reserve can’t raise interest rates and if the Federal Government stops overspending and over-regulating the real U.S Mainstreet economy will DEFLATE

If Americans are wondering why with all of this money printing the economy continues to deflate, it’s because of the efficiency of technology which is deflationary. Bitcoin is deflationary in that it takes out the need for commercial banks, but it’s inefficient in that it doesn’t allow for fractional reserve transactions WITHOUT fiat money. Being that only 21 million bitcoins will ever exist their fractional reserve system won’t work without fiat money.

But Bitcoin has made the need for commercial banks and their fees unnecessary and that’s huge in the grand scheme of things. The last thing the Federal Reserve wants to be involved in is retail banking, which essentially would make them a Post Office.

Being that the new treasury security Janet Yellen comprehends what Bitcoin can do to her and the Federal Reserves’ narrative of what financial policies should be, she’s making sure to go on the attack early. Janet Yellen is the former chairwoman of the Federal Reserve and although I think her new position is a conflict of interest, I assume 81 million Joe Biden supporters would disagree with me.

I personally believe the attacks on Bitcoin have just begun, I’m not one of those people that thinks Bitcoin will drop to zero or Bitcoin will rise to $100,000 I only care about financial education. Because if enough people are financially educated we can end poverty!

As long as people believe Big Government is the cure to ending poverty this financial hell that we’re living under will continue. The cure to human prosperity begins and ends with financial education. The more people who know what’s going on the better. Governments always try to consolidate power and I’m of the belief that Janet Yellen is preparing the world to get used to the idea of the Government controlling the Bitcoin, cryptocurrency narrative.

Joe Bidens administration is filled with Moderate democrats(who are corporatists) and Democratic Socialists(Who are Non-Market-based-Socialsits) this big government merger is coming after anything they imagine has value. I think this will be a good lesson for youngsters who don’t understand why we older guys become Conservatives!

The progressives eventually come after everything you hold dear and once they confiscate your treasures and give you a distinctive label that makes you appear inhumane, the progressives will then look for another enemy to destroy. Progressives attack freedom of speech because they fear revisiting history. Bitcoin exists because of the Federal Reserve dropping interest rates to zero and leaving them there.

Bitcoin would still be at zero if interest rates were normalized, however, Bitcoin has central banks cornered because Central banks’ only way out of this mess is a digital dollar, unless of course, they raise interest rates because people start dumping the Greenback.

Now although dumping U.S dollars sounds ridiculous at the time I’m posting this, things could change, its’ funny to me how people are ignoring the trade deficits between Western Nations and developing nations like China. I’ve been writing about austerity measures for years now, because of fiat money, people forget what is supposed to happen when a government can’t pay its bills. It’s not as simple as Argentina will make you believe.

You can’t simply create a new currency and hope the hyper-inflation genie will go away, no, in the real world massive trade deficits lead to austerity measures and WARS!

I keep your country’s economy operational country A says to insolvent country B and you know what, I don’t want your currency anymore! Pay your trade deficits in commodities I can use to grow my country

I’ve been writing that I believe Joe Bidens has the lowest IQ for Presidents in U.S history.

Yellen sounds warning about ‘extremely inefficient’ bitcoin | cnbc.com

Interesting times ahead