Ray Dalio says if bitcoin is really successful, regulators will ‘kill it’

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Zero Hedge: Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, believes regulators would ultimately take control of bitcoin if the cryptocurrency gains mainstream success.

“I think at the end of the day if it’s really successful, they will kill it and they will try to kill it. And I think they will kill it because they have ways of killing it,” Dalio told Andrew Ross Sorkin Wednesday on CNBC’s “Squawk Box” at the SALT conference in New York.

U.S. regulators have stepped up their oversight of the volatile cryptocurrency space as the wild rides in the speculative markets continued to grab attention. Securities and Exchange Commission Chairman Gary Gensler said Tuesday that Wall Street’s top regulator is working overtime to create a set of rules to protect investors through better regulation of the thousands of new digital assets and coins. Read More …

Opinion: Daily readers to this blog know I have been warning about this for two years. Treasury Secretary Janet Yellen and Federal Reserve Chairman Jay Powell have been sending warnings about regulating cryptocurrencies since the election of the Biden administration.

The interesting part is I don’t think neither Yellen nor Powell are aware of how this will end.

Working backwards from what we know in Revelation 13:16-17, the mid-way point of the tribulation is all about the control of money, even for the 1%. No generation in history has had the ability to control every transaction until this generation because of the advent of digital currency in 2013.

And it is unregulated cryptocurrency like bitcoin and Ethereum that threatens the control of money that is the very essence of the role of central bankers and their bosses at the Bank of International Settlements (BIS).

Our post from September 8, 2021 illustrates:

BIS Tests International Settlements With Central Bank Digital Currencies

“The Bank for International Settlements and four central banks will test the use of digital currencies for cross-border transactions, as global regulators seek to improve the speed of movement of money in a cheaper, more transparent manner.”  (read more)

It is the global money bosses and the regulators they control that put a stop to Facebook’s ‘Libra’ digital currency in 2019. Facebook’s global reach threatened to become the central  bank for the more than 2.4 billion unbanked people all over the world.

It is not nice to mess with money bosses. Libra is now an afterthought.

Theory:

Suppose either the US economy or Europe’s economy were to crash under the weight of too much debt, causing the US dollar to lose World Reserve status. The second largest global currency, the Euro, could become the de facto world reserve currency making the European Central Bank (ECB) the central bank for the West, despite the fact that the EU is on the verge of collapse itself.

Further suppose if that happens, that the economic hyperinflation created on both continents would force whatever is left of the two governments to seek a super president to ride in on a White Horse (Rev. 6:1-2) to save the day.

Nah, too crazy.

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