Bitcoin exists because it’s a safe haven from a venal banking system

https://www.rt.com/op-ed/531238-crypto-regulation-sec-cbdcs/

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Cryptocurrencies throw a wrench into that machine by allowing Americans to stash their assets outside the rigged financial system in a way that’s more portable than gold or other traditional hedges, and the old system has nothing to offer the customer to lure them back. Clearly, crypto’s gotta go.

After all, it’s not like the US central bank or its financial “regulators” like the SEC have done a great or even satisfactory job when it comes to running a functional system. Regulators utterly fail to protect consumers, leaving their pensions to be plundered by asset managers and their houses to be foreclosed on by robo-signing fraudsters. And the Federal Reserve - itself neither federal nor, these days, much of a reserve – can’t stop printing money at full speed or the whole house of cards will collapse. The US is upwards of $28.4 trillion in debt, and when one takes into account the murky global derivatives markets, whose risk is largely concentrated in the US, the figure could be orders of magnitude higher.

Pointing the finger at bitcoin as if it is the source of all this instability, as Senator Elizabeth Warren (D-Massachusetts) did last month, requires stunning amnesia, especially from the woman who built her public profile railing against the “too big to fail” banks that turned the American dream into a nightmare a decade ago with a wave of foreclosures the nation never really recovered from. Warren’s gone from demanding their prosecution to attacking their enemies...

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