Bitcoin may be Outlawed, like gold was in the 30s!
Source: Government Confiscation - Gold Outlawed - May 01, 1933!
Today I watched an interesting interview of Ray Dalio called Yahoo Finance: SuperCut. In the interview Mr. Dalio mentioned everything from the Economy to Bitcoin, and reasons why he thinks Bitcoin will be Outlawed in the future!
"The sole purpose of an investment is so you can sell it to buy something you want." - Ray Dalio
On average, in the US, it takes 50 years to receive 100% of your real return on investment back. In some other countries it may take even longer, as long as the USD is the reserve currency of the world. As soon as you throw in a cryptocurrency to this equation, that doubles in value (or more) every 4 years, you can see how this might create imbalances in the financial system.
Basically if you could just buy anything, in the US, that didn’t depreciate in real terms, you’d be rich!
The key to becoming rich is to find an asset that at least matches inflation. There is a fine balance between debt, inflation, and prosperity. When one of these factors goes out of wack, investors are forced to look elsewhere than the dollar, i.e. Silver, Gold, & Bitcoin. This however could be perceived by the Government to be a slippery slope where their in house USD currency is the mountain. In order for the Government to insulate their sovereign currency system monopoly, it has to always be number one, thus Governments might be forced to outlaw the King.
Looking at the past - Money powers control, & dictates the future! 🔮
Originally the Bank of England decided they wanted a monopoly on their money, basically they didn't want any other monies. This has been the norm for most countries throughout history, so one could infer that there is a high probability that Bitcoin will becoming Outlawed in the future. For instance countries like India, and China are already trying to outlaw the ownership of crypto.
Governments can try to ban BTC, but it's decentralized so can it really be Outlawed? Yes & No!
Yes Governments can ban it, & No banning it wouldn't ever be 100% effective in stopping it. The best Governments can do is make it near impossible to use public ledger cryptos like Bitcoin, since they are so easily trackable by the governments, ai, and soon to be quantum computing ai suystems. The governments and the banks control all the on and off-ramps of capital movements, and foreign exchange controls, making it very hard for the average Joe Crypto to easily use it. All that would be left for bitcoin would be the hardcore enthusiasts forced to use it at their own risk of imprisonment, fines, & most likely would be forced barter with it underground.
In Conclusion Ray Dalio thinks there's a very high probability that Bitcoin will follow the path of Gold in history, and become outlawed in the end!
Outlawing Bitcoin as a means of currency control in the US might be the ironic twist of fait waiting for BTC down the road. Bitcoin has proven itself to be sound money over the years, unhackable, decentralized, in limited supply, fungible, and near "perfect money" however, perfect money can never compete with Monopoly money in a one world order system. Logically speaking, one of the two will have to go in the end. It's going to be a battle of power between fiat and crypto for the future ownership of the world's assets, and the only thing seemingly getting in the way of the elites might just be Bitcoin!
Watch the Video here:
I queued up the spot in the video where Mr. Dalio talks about Bitcoin.
