The Chinese Communist Party reportedly bans banks from cryptocurrency business, unlikely this led to the decline of Bitcoins price – May 18, 2021,

China has a long history and the Chinese people aren’t stupid, whenever the Chinese Communist Party does something, the people in the know do the opposite. Chinese people SAVE a lot of cash in multiple Western currencies, but for day-to-day transactions, the Chinese people for the most part spend whatever the CCP tells them to spend.

Why bring unnecessary attention to yourself right? With that said the CURRENT price decline in Bitcoin has most to do with the economic data, I have friends in bitcoin, some of them are flat broke, they were waiting for the $100,000 and they need the cash now.

One need simply look at the economic data GLOBALLY and you’d see why there’s a massive sell-off of bitcoin, the entire global economy is DEFLATING, now just because the governments are printing money, and we’re seeing price inflation everywhere, it doesn’t mean that actual economy isn’t deflating. a deflation economy equates to a sell-off in all manners of things, not just Bitcoin, I even expect the price of Gold to come down because Gold or Bitcoin can’t pay your day-to-day bills.

In the United States, a lot of the Republican States are trying to get rid of Joe Bidens’ push for a UBI as it’s destroying the incentive to work. A lot of these people dependent on Joe Bidens UBI have to dump their bitcoins, it amazes me how clueless everyone is to the fact that the economy has already crashed!

We just haven’t felt the crash because of all the BORROWED government money that’s been printed into existence. Anywho doesn’t believe in the wealth effect clearly isn’t living in this current reality. Wake up morons, the crash is here, people getting paid to do nothing! Do you really think this can last forever? I assume you believe trade deficits don’t matter and the Venezuelan governments’ seizure of private property had nothing to do with their hyper-inflation problems?

Although it seems unrealistic to people now, all of this debt is going to either be reasonably serviced or defaulted on, there’s no getting around it and currently, the Joe Biden administration doesn’t understand that their increases in taxes can’t service their spending proposals.

The markets are pricing all of this in and all roads lead to inflation and higher interest rates. Ok sure, maybe the Central banks and the governments can come up with some new scheme, but the Chinese Communist Party is calling the shots now because trade deficits are trade deficits, you can’t print your way out of a trade deficit either you can make the stuff or you can’t.

No some would argue, well why doesn’t China start a war? My response is why should they? why waste the money and risk their unproven military getting exposed when they have Western leaders like Justin Trudeau and Joe Biden who will do the CCPs dirty work for them?

How this all gets back to Bitcoin is China already has the digital Yuan, anyone in China with a half-brain knows not to hoard ANY digital currency. China invented Internet Censorship and their governments can already follow every Bitcoin transaction, it’s on a public ledger for godsakes.

When Edward Snowden merely brought up Bitcoins’ privacy problems, he was attacked, like how clueless are people in the year 2021? When will people wake up to what’s going on? Edward Snowden lost his life over privacy concerns and he says one negative about Bitcoin and he’s demonized?

Anyone with had a brain knows China has little to do with the decline of bitcoin, the Chinese government benefits from bitcoin, it’s softening people up to use a digital yuan and if blockchainers aren’t smart enough to understand that Edward Snowden is trying to get ahead of future problems, well that’s on you.

It’s pretty clear at this point that people are running out of money and with all of this price inflation, the problem most likely will get worse and worse. To really drive the point home I’m trying to make here, every time a government creates money out of thin air that’s not tied to any productivity it’s accelerating the economic crash, meaning they will need to print more money sooner.

Your prior State or Provincial Welfare programs are why the cost of living accelerated in the first place, now imagine that your federal government is now involved in Welfare check distribution and you’ll see why people are running out of money so quickly and why prices are rising.

Interesting times ahead!