I have always been agnostic on crypto currencies. The one thing I like most about them is they are private currencies that take financial power and up control away from globalists, central banks, and politicians and their fiat currencies.
The Securities and Exchange Commission have always wanted to regulate Bitcoin and other digital currencies. But now so does the United Nations it seems. Yes, let’s leave these bureaucrats in charge of all the trillions of dollars of printed money.
In their latest POLICY BRIEF, the UN officials conclude:
• The benefits that the 19,000 cryptocurrencies may bring to some individuals and financial institutions are overshadowed by the risks and costs they entail, particularly in developing countries.
• The global reach of private digital currencies makes national regulatory responses challenging. [That’s a bad thing?]
* All that glitters is not gold. There is a high cost to developing countries in keeping cryptocurrencies unregulated.
Of course, the UN wants to regulate cryptos out of business so international central bankers can continue to tightly control global financial markets. But the reason that cryptos are gaining such a foothold around the world is because corrupt central governments can’t stabilize the value of their own currencies, so investors scramble for viable alternative sources of tradable money.
The chart below shows that 15 of the 20 nations with the fastest deployment of cryptos are developing nations like Venezuala where the fiat currencies are dependable as stores of value. Would you own a Venezualian peso?
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