People are mad about people like Jerome Powell lying about DeFi. In reality, they are playing on people's ignorance

So it shocks me to see people think

Jerome Powell Calls Out DeFi for Lack of Transparency = he has no idea what he’s talking about

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The truth is, your average person has no idea the first thing about crypto, stock, or any of that. Your average person is struggling to find the time between their job or jobs, taking care of kids/family, and sleeping. Your average person most likely never heard of DeFi before, and when the media says it is for drug dealers or whatever, then they have no choice but to believe it because that is the only voice they hear.

It's pretty rare when a political figure says flat out lies like that just because. 99% of the time it is because their audience is too stupid, they don't have the (time, energy, or care) to research it, and the other side doesn't have a loud enough voice to be heard.

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The best way to look at this is why slaves in given time periods weren't allowed to learn how to read and write. People who aren't informed

1. Don't know when you are lying
2. Don't know if there is better options and have no way of figuring it out
3. The person will likely give up in figuring whatever out since it is an uphill battle due to you have no one in your personal life to help you figuring this stuff out.
4. They won't know how important given things are.

Basically they are easier to control, and this is what they are banking on.

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It's the same excuse we gotten through our life.

Video games = crime and drugs

Rock and roll = crime and drugs

Crypto = crime and drugs

Protecting your data = Only people who have something to hide want to do this (crime and/or drugs)

and so on.

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It's why through many of our childhood we had to hear monthly about how video games are bad, even with hundred page reports proving it 100% false. Basically, it's playing on ignorant people.

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Thank god the one thing it does is the younger generations that get screwed over, they have more and more distrust of the gov due to the gov abusing their power and being extremely corrupt.

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TLDR:

When a political person says something stupid about crypto. Note you aren't the target audience. They are after those who flat out don't know better.

We need to do a better job at educating the public.