While they have been busy terrorizing the financial world with free money printed from thin air that enriches them at the expense of savers, bitcoin quietly emerged and in 2017 exploded onto the scene. They now recognize it as the threat that it is to central banking and the governments who feed off it.
No surprise then that we get British PM Theresa May coming out with this:
Theresa May says she will look at bitcoin and other digital currencies “very seriously”. The Prime Minister is considering taking action against them, because she’s concerned about their popularity amongst criminals. (Source: The Independent)
This is the standard "bitcoin is just used by criminals and we need to keep everyone safe so we will make it difficult to use bitcoin." Part of the way that they will do this is through KYC/AML laws.
Now, some believe that this is a reasonable step for the government to take. It isn't. Nothing about KY/AML laws makes people safer. My guess is that it makes us much less safe.
These rules requiring identity papers keep billions around the world from accessing financial services. This makes it impossible for them to escape poverty. This type of injustice creates the terrorists they say they want to protect us from. As usual, governments have it backwards.
Actually, bitcoin isn't used by criminals so much as it is used by ordinary people to escape the criminal central bank system.
Disclaimer: Nothing here should be construed as investment advice. These are nothing but my rambling thoughts. I do own gold and bitcoin, but do not recommend these assets. You have to do your homework and know what you are getting into. Governments hate these two assets and will try to make sure no one who owns these things wins. You have been warned to stay away!
PM of a country that convicted money-laundering felon, HSBC calls home. Same country that voted to Brexit the grip of the Brussels-based monetary Experiment. Good luck with that.
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