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In this video, I discuss the US federal government faction represented by Janet Yellen that may be about to launch an attack on Bitcoin.
The US Treasury and the IRS may be considering implementing capital controls, unrealized capital gains taxes, forced reporting of Bitcoin holdings, etc in an effort to slow down Bitcoin’s growth and function as a financial life boat.
The US government and the Federal Reserve will allow inflation to “run hot” in an effort to whittle away the gigantic US debt load over the coming decade. By keeping Treasury rates below inflation rates, purchasing power is eroded for Treasury investors, which will allow the US gov to slowly devalue its way out of its debts. As this ship continues to sink, the government may go after Bitcoin even more, in an effort to shut off access to this particular fiscal life boat.
Any attempt to suppress Bitcoin may trigger a financial crisis, as well as drive wealthy and intelligent Bitcoiners to other more friendly jurisdictions.
Not investment advice! Consult a financial advisor.
US Government May Actually Want Much Higher Bitcoin Prices:
Wall Street loves Bitcoin and may protect it:
https://www.coindesk.com/goldman-sachs-to-enter-crypto-market-soon-with-custody-play-source
I just got some insanely BULLISH news from inside Morgan Stanley
They just announced on a complex call
– a commitment to providing a Bitcoin investment vehicle
-first an ETF, then the ability to hold PHYSICAL coins
– company wide education on Bitcoin as a portfolio piece
— Steven Lubka ☀️ (@DzambhalaHODL) February 25, 2021
Billionaires love Bitcoin and may protect it:
https://twitter.com/michael_saylor
Total Federal debt:
https://fred.stlouisfed.org/series/GFDEBTN
5-Year Breakeven Inflation Rate:
https://fred.stlouisfed.org/series/T5YIE
5-Year Treasury Constant Maturity Rate:
https://fred.stlouisfed.org/series/DGS5
Yellen hates Bitcoin:
https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html
FedWire goes down, Bitcoin stays up and running:
https://twitter.com/KevLeht/status/1364733830611931138/photo/1
Harald Malmgren:
https://en.wikipedia.org/wiki/Harald_Malmgren
“Little birds” warning about Bitcoin attack:
In the context of "little birds", could Yellen's criticism of Bitcoin at the DealBook conference have been a trial balloon warning to investors?https://t.co/wL2SI35cjT
— Gary Haubold (@GaryHaubold) February 24, 2021
As Treasury Secretary Yellen has vast scope of authority. Her thinking on CBDC began long ago w/Summers,Rogoff, Stiglitz etc+BIS+substantial work of BOE leading most of Brit Commonwealth CB preparations for CBDC…she likely sees it as just a question of timing https://t.co/T2rirMu8m7
— Harald Malmgren (@Halsrethink) February 24, 2021
That is what several little birds have been telling me https://t.co/Ns35n1mlXP
— Harald Malmgren (@Halsrethink) February 24, 2021
Expect IRS to establish task force to tax all profits from crypto trading, with severe penalties for ignoring any requests for access to holdings. Then state&local tax authorities, then other agencies, all learning that IRS will force full disclosure by threat of confiscation https://t.co/TQJWVKqFKv
— Harald Malmgren (@Halsrethink) February 24, 2021
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