Posted on 03/04/2022 8:54:53 PM PST by SeekAndFind
With the conflict between Russia and Ukraine dominating the recent news cycle, it’s likely you’ve been hearing more and more about cryptocurrency. Countries around the globe have imposed sanctions on Russia and frozen accounts of oligarchs. This has sent the Russian Ruble into a tailspin. When fiat currency is in decline, people ad business will search out other means of payment.
As a result, we’ve seen cryptocurrencies used to supplement fiat currency as well as to aid Ukraine through large donations of Bitcoin, Ethereum, and Polkadot. The crisis in Ukraine has only aided in the adoption of cryptocurrency and the trend shows no signs of slowing down. In fact, the United States has taken notice and is fully ready to dive in and get involved in a serious way.
Next week, President Biden is expected to issue an executive order directing various government agencies across multiple sectors to study how cryptocurrency could impact our financial stability as well as a possible framework for a Central Bank Digital Currency (CBDC). And in the here and now, Fed Chair Jay Powell says Russians using crypto to defy ruble sanctions underscores the need for clearer regulatory oversight.
So where do the crypto rules go from here? And where are the opportunities for investors while we’re waiting?
With cryptocurrency becoming more mainstream and the possibility for crypto to remove middlemen from transactions (think of banks and other financial institutions) the president is jumping to get ahead of changes caused by its further adoption. These various agencies are expected to assess what powers regulators have and come up with a possible government-wide strategy to regulate digital assets. As several countries are already taking measures to regulate, we are expecting the U.S. government to work with other countries to standardize cryptocurrency regulations across the globe.
The Director of the Office of Science and Technology Policy (OSTP) will be working on a technical evaluation of what might be needed to support a CBDC system. This comes after the fed published a paper in January titled Money and Payments: The U.S. Dollar in the Age of Digital Transformation, in which they lay out the pros and cons of a CBDC system, as well as discussing the possible threats to banks posed by cryptocurrencies.
Late last year, the Financial Stability Oversight Council (FSOC) published an annual report in which stablecoins (cryptocurrencies where the price is designed to be pegged to a cryptocurrency, fiat money, or to exchange-traded commodity) and other crypto assets were identified as a possible threat to the financial system. The FSOC recommended that state and federal regulators review regulations and tools that could be applied to digital assets. The council is also looking at possible privacy issues surrounding the space, as well as distributed ledger technology (the underlying framework for cryptocurrencies) and what powers regulators may have in the space.
Even the FBI is involved, forming a new crypto unit led by a highly experienced computer crimes prosecutor named Eun Young Choi. Choi has impressive credentials under her belt, including being the lead on a case against a Russian hacker who helped steal information about more than 80 million JPMorgan & Chase Co. customers and serving as an Assistant United States Attorney for the Southern District of New York. While serving in New York, she was the Cybercrime Coordinator, where she investigated and prosecuted cyber, fraud, and money laundering crimes. Her focus was on network intrusions, digital currency, the dark web, and national security investigations.
The SEC, The Commodity Futures Trading Commission (CFTC), Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) will all be expected to weight market protection measures within their respective jurisdictions. The FTC Chairman and Director of the Consumer Financial Protection Bureau (CFPB) will be looking at potential privacy issues created by digital assets.
The Commerce Department, Treasury, State Department, and The United States Agency for International Development (USAID) will work to create a framework for interagency international engagement with foreign counterparts in an international forum to enhance the adoption of, and standardize rules for, digital assets.
Established by the Dodd-Frank Act to protect the U.S. economy from the actions of large banks that led to the Great Recession, the Financial Stability Oversight Council (FSOC) will be looking at financial stability issues that arise from digital assets. Stability issues caused by crypto are on a lot of minds, with the International Monetary Fund (IMF) addressing cryptocurrencies in its Global Financial Stability Report in October of 2021.
The Attorney General, Federal Trade Commission (FTC), and the Consumer Financial Protection Bureau will analyze cryptocurrency’s impact on market competition and consider what impact the further growth of digital assets could have on market competition over time.
The Treasury, Securities and Exchange Commission (SEC), Commodities Futures and Trading Commission (CFTC), and federal banking agencies will work together to develop a report for the president to advise on how best to protect against the risks associated with cryptocurrencies. The Office of Science and Technology Policy (OSTP) will be expected to submit a report to President Biden on digital distributed ledger technology (DLT) within 180 days and provide an update on DLT and its impact on the environment within 545 days.
So, where does that leave investors when it comes to cryptocurrencies? Is it time to buy?
Cryptocurrency is still incredibly volatile, behaving more like a wildcard stock than a settled “currency.” That rollercoaster experience provides the charm for some, but for others, finding out that the car has no brakes can easily become a nightmare . . . especially with 24/7 trading, significant swings in prices can happen at any time of the day.
Regulation could alleviate some uncertainty and lend some price stability, but at the cost of putting brakes on the rollercoaster. Either way, that is still a long way off and crypto is still the Wild West. For now, stick with the publicly traded exchanges and crypto banks that make money whether individual crypto tokens rise or fall.
Coinbase (COIN) has been one of the strongest new stocks to hit Wall Street in the past year . . . I have high hopes for it in the long haul. Silvergate Capital (SI) will always be close to my heart. Hard to believe I started recommending it below $13!
And I’m eager to see where Jack Dorsey takes the company formerly known as Square (SQ) into deeper blockchain ventures. Tokens come and go. The chain, by definition, is where the real action happens.
This is so depressing.
“Fed Chair Jay Powell says Russians using crypto to defy ruble sanctions underscores the need for clearer regulatory oversight.
“As several countries are already taking measures to regulate, we are expecting the U.S. government to work with other countries to standardize cryptocurrency regulations across the globe.
“The Commerce Department, Treasury, State Department, and The United States Agency for International Development (USAID) will work to create a framework for interagency international engagement with foreign counterparts in an international forum to enhance the adoption of, and standardize rules for, digital assets.”
“Established by the Dodd-Frank Act to protect the U.S. economy from the actions of large banks that led to the Great Recession”
The government cause the crash in 08. As for crypto. The government doesn’t like the challenge to the central banks. Hard to see how they can control crypto if the people want it. It makes no sense to me so I don’t dabble in it. Seeing the swings of 30 grand a day and giant banks and investment houses buying in to it makes me leery.
I recently took a cognitive test, they asked me who the president was.
Unfortunately I have an overactive honesty streak so said ‘that all depends on who you ask’
They freaked out
So I said for example if you were to ask the Biden, he would likely answer Kamala
So they are blaming it on Putin. Yet, in January, he was already working on it. Perhaps even earlier.
“ Reports are circulating in Washington around the White House beginning to discuss a potential Executive Order on cryptocurrency. Some reports speculate that the order will be released in 2022, possibly by February, and many supporters worry about what regulatory measures, if any, it might include.
What would a central bank digital currency look like?
On 20 January the Federal Reserve put out a press release requesting public comment on a report on the idea of establishing a central bank digital currency (CBDC).
“We look forward to engaging with the public, elected representatives, and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States,” said Federal Reserve Chair Jerome H. Powell as the request was made. (More at link)
https://en.as.com/en/2022/01/25/latest_news/1643065990_855908.html
“We look forward to ignoring the public, elected representatives, and a broad range of stakeholders as we do whatever the hell we want as we transition to digital currency in the United States, so that we can control everyone’s accounts at will”
fixed it
I’m shocked, shocked! that our govt would use the war as an excuse to increase its size and reach.
The Rothschilds cannot allow competition to their banking monopoly.
Simple.
Define possession of a wallet or account as money laundering, and arrest 100 people.
The laws already permit this by regulation, I presume the reason they haven't done this already is because major players in the government have assets at risk - but if the Treasury Secretary and AG wake up one day and decide to ban it, it will be over in six hours as all BTC, etc falls to zero and stays put.
That will become the ultimate objective.
The thing about gaining some power is, an hour later they're hungry for more.
“Define possession of a wallet or account as money laundering, and arrest 100 people.”
Biden’s ChiComm buddies already did that. Bitcoin still going strong, even in China. I suppose the weenie deep state could shut down the internet. Now, that would kill Bitcoin, and the 21st century. Then we could all run around in loincloths, chasing quails with spears.
The End of Cryptocurrency Coming?
Blog/Cryptocurrency Posted Mar 8, 2022 by Martin Armstrong
I warned ion the private blog that cryptocurrencies may end up being suspended. The excuse will be Russia and the news is out now that Biden will sign an Executive Order to regulate cryptos because Russia can use it to circumvent sanctions. Not only is Biden authorizing the regulation of digital currencies, but he is also instructing to move forward with a central bank cryptocurrency. Once that is done, all other cryptocurrencies will be seized and folded into the government’s crypto. There will be no competition. Money historically has also been the Divine Privilege of Kings and Tyrants.
Exxon-Gas-Prices.jpg
Biden is now proposing to ban all Russian Energy sales to the West. Prices will rise sharply still and Biden is blaming Putin claiming this is the “price of freedom” for Ukraine which is all BS so governments can avoid responsibility for the collapse in the supply chain thanks to COVID and their shutting down fossil fuels for Climate Change.
Now it is time to blame Putin for the continued rise in gasoline which is their agenda to save the planet. Their clock in NYC that they were telling the world we had only 7 years left if we did not ban fossil fuels is being accomplished under the pretense of “freedom” for Ukraine.
Macron desperately needs this war to fulfill his agenda and role in the grand scheme. Macron has been arguing for a European Army and they need this war to justify not NATO, but a new EU Army that is not bound by NATO rules and treaties. The EU Commission has been working on its proposal to establish a joint budget for the Eurozone since 2017, which is the endgame of federalization. The aim was to cement the monetary union in place and thereby prevent any more BREXIT nonsense from their view. Now they are pushing to issue an EU Bond and they are now using this war with Russia as a power grab to federalize Europe.
We now have private companies throwing Russians out in every possible context. The Russians have replaced the Jews of Germany. They are now regarded as swine and nobody should do any business with them whatsoever. This war is part of the Great Reset. They can no longer fund the governments and Keynesian Economics has collapsed. This is all part of the agenda and it is being carried out in sequence.
NorthwoodsMemorandum.jpg
Just like Project Northwoods that President Kennedy rejected, they proposed killing Americans and then blaming it on Cuba to justify an invasion. They will now carry out a cyberattack and blame Russia. Putin offered peace terms that were reasonable. Let the two provinces become independent as they sought since the 2014 revolution, and relinquish any claims to Crimea. Zelensky takes his orders from the West and flatly rejected any proposal. Now Zelensky claims he is open to discussions. If he does not agree insisting that the only thing acceptable is total withdrawal by Russia which he knows is impossible, then this is a warning he is taking his orders from the West – not his people. This war is desperately needed to federalize Europe, default on national debts that can no longer be serviced, and end fossil fuels for the Climate Change zealots. Will they create a false flag and claim Russia violates whatever agreement if it can be made?
The Ukrainian people are pawns in this political game for the Great Reset and the dream of a one-world government. They have made it very public. The US will no longer be a superpower, and democracy will be terminated. Already, the EU is the model. The head of state nor the European Commission stand for election – ever. Trudeau in Canada has even publicly committed Canada to Schwab’s Agenda 2030.
These sanctions and private aggression toward anything connected to Russia will drastically implode the World Economy. There are Russian private citizens who own gas stations who are being targeted. NJ Governor wants to shut down Lukoil gas stations. This is no different from the discrimination against blacks or the Jews. But it is now all perfectly OK – obedience to authority!
This is all shaping up as intentional. The same agenda I have warned about that, especially Europe can no longer fund its government because of perpetual negative interest rates. I have reported that the top US banks were not accepting European sovereign debt as collateral. The crisis of ver debt in Europe began with the REPO Crisis in August 2019 when US banks would not lend overnight to European banks. That spread to the Sovereign Debt.
This war is being deliberately orchestrated. There is nobody interested in calming the situation. Every excuse to raise the Iron Financial Curtain is being carried out. The sanctions imposed on Russia for Crimea are still in place. Once sanctions are imposed, they will NEVER be removed. China is now moving full-steam-ahead to replace SWIFT, which stood tall when Obama wanted to remove Russia and they refused to allow SWIFT to be used for politics. Now SWIFT has lost all integrity and the price we are witnessing is the collapse of the world economy.
The US and Europe will become isolated and the world is being torn in half. This is what our computer has been forecasting for post-2032. Our computer has never been wrong on its major forecasts for it is NOT biased like human analysts. Some are reporting that Russian businesses in Germany are being attacked with windows smashed. Instead of the Jews, this time it will be Russians.
This forecast was made back in 1985. We reported that 2016 would be the first time a non-politicians would win and that turned out to be Trump precisely to the day of the Pi target. From 2020 we would see a commodity boon on shortages, rise in civil unrest, the disease cycle, and our war cycle were all coming together. We also warned that post-2032, China would emerge as the new Financial Capital of the World. These forecasts were not personal opinions. NOBODY can make correct forecasts for so many years based upon personal opinion. Anyone who claims to be so lucky is making that up.
The government wanted our models when they saw they were even forecasting the rise and fall of governments. We forecast the fall of Russia in 1998 which led to the collapse of Long-Term Capital Management and the first bailout by the Federal Reserve. (Watch interview on Highwire)
For all of those who said Bitcoin replaced gold and the dollar, if they didn’t bother to look at a chart, it has been declining since last November when this plot to create a war was hatched.
https://www.armstron...urrency-coming/
“Nulla tenaci invia est via” - Latin for “For the tenacious, no road is impossible”.
“In order to master the markets, you must first master yourself” ... JP Morgan
“Most people lose money because they cannot admit they are wrong”... Martin Armstrong
http://marketvisions.blogspot.com/
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