Cryptomonedas and Bitcoin: "Give me control of the money and I will not care who makes the laws ...

* This article a few months of RICKARDS ago, makes manifest a latent and real fear about the crypto-currency that is its raison d'etre "Decentralization", like in  Jekyll Island,  control of the money was taken by private banking, now although it is returning to the nation - state with the fall of globalization still remains the financial power centralized financial conglomerates, is more than clear that they have more than one ace up his sleeve, and his global power they could easily take the blockchain technology; I refer only to the now legendary phrase:

"Give me control of the money and I will not care who makes the laws ...

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BY JAMES RICKARDS

September 5, 2017

Interest in Bitcoin is red hot right now. It is impossible to open a website, listen to a podcast or watching a video in the financial space without hearing about the meteoric rise in the price of Bitcoin.

Perhaps you know a "Bitcoin Millionaire" who bought five hundred Bitcoins few years ago for $ 50,000 and now has a fortune of more than $ Bitcoin 2,000,000. True, these people really exist.

However, criptohysteria is distracting you from a frightening truth that no one is talking.  Everything indicates that governments, regulators, tax authorities and the global elite are moving to the crypto-killing. The future of Bitcoin may be a dystopia in which Big Brother controls what is called "block chain" and decides when and how you can buy or sell anything and everything.

In addition, criptomonedas technology could be the mechanism used by global elites to replace the dollar-based financial system.

In 1958, Mao Zedong, the leader of the Communist Party of China and China dictatorial leader, demoralized intellectuals and artists who were alienated by the communist regime faced. As a political response, he declared a new policy of intellectual freedom.

Mao said: "The policy of letting a hundred flowers blossom and a hundred schools of thought contain this design to promote the flourishing of the arts and the progress of science."

This statement is known as the "Hundred Flowers Campaign"  (often misquoted as the "campaign of a thousand flowers"). The answer to Mao's invitation was an enthusiastic outpouring of creative thinking and artistic expression.

What came next was no surprise to those familiar with the operation of state power. Once intellectuals and artists emerged, it was easy for Mao's secret police gather, kill them and torture them , and send others to "reeducation camps" where they learned ideological conformity.

Movement Hundred Flowers was a trap for those who relied on the state. It was also a test of what will come in the form of the much more violent and comprehensive Cultural Revolution of 1964-1974 in which all traces of the Chinese bourgeois culture and much of the historical legacy of China were eliminated.

Something similar is happening with Bitcoin and distributed accounting technology (DLT) today.  Governments have been patiently watching blockchain how technology develops and grows beyond its control over the past eight years.

Blockchain libertarians supporters celebrate this lack of government control. However, his conclusion is premature and belief in the sustainability of powerful systems beyond the control of government is naive. 

Governments do not like competition especially when it comes to money.  Governments know they can not stop the chain block, in fact do not want.  They want to control it using powers of regulation, taxation and research and, ultimately, more coercive powers, including arrest and imprisonment of people who refuse to obey government mandates regarding Blockchain.

Blockchain not exist in ether (despite the name of a cryptocurrency) and not in Mars. Blockchain depends on critical infrastructure, including servers, telecommunication networks, the banking system and the grid, all of which are subject to government control.

A group of large companies, all regulated by the government, have announced a joint effort to develop a chain of blocks of code open as a uniform for all standard applications blockchain. The group includes JPMorgan, Wells Fargo, State Street, SWIFT, Cisco, Accenture, London Stock Exchange and Mitsubishi UFJ Financial. Not exactly five types with jumpers working in a garage. That's a sign that the corporate state consortium is taking charge.

A legal institution of the US elite. UU. Called Uniform Law Commission, which proposes model laws for adoption in all fifty states, has released its latest proposal called  "uniform law regulating companies virtual currency".

This new law  not only  provide a regulatory framework for state regulators,  but will also be a platform for private plaintiffs litigation and class action lawyers seeking remedies against real or imagined abuses through exchanges and facilities for digital currencies.  Once litigation begins, anonymity is the first victim.