Discussion about this post

User's avatar
Illinois Entrepreneur's avatar

I've always been wary of crypto for this very reason (the government). I think that they waited to see if it was a fad and would flame out on its own, or if it would present an actual threat to the USD. The more successful it got, I think it was more likely the government would move on it. So I didn't see a breakout scenario as an investment. Quite a risky one, in fact.

I also wonder if our government today is really that much worse in encroaching on our liberties, or if it is just that we're noticing it more. This is the same country that enacted Prohibition and has had many laws that were quite restrictive in our past.

For the record, I abhor the tyranny, and I think the only way to curb the government beast is to steadily defund it.

Things always change, but human nature stays the same.

Expand full comment
Ed W999's avatar

As interest rates and the federal deficit increases the federal government will find it harder and harder to pay interest on the national debt (let alone pay the debt down). This will eventually reach a critical mass when the US government will no longer be able to pay full Social Security benefits. By this time the national debt will have grown to such a degree that interest payments on this debt will impair the ability of the federal government to fully fund any programs. In order to protect itself the federal government will need to have a currency it has total control over versus crypto which is very portable and not tied to a nation state.

Expand full comment
15 more comments...

No posts