US and China Target Crypto

Discover inside what effect this will have on market valuation of cryptoassets! [Gilder's Daily Prophecy] November 25, 2021 [UNSUBSCRIBE]( | [ARCHIVES]( Here is your instant access link [Here is your instant access link to The Next Gen Crypto Summit.]( Keep in mind this is a first-come, first-served event. Anticipation is high, and with the special link above, you’ve got ‘first read’ access. By the end of the day, hundreds of thousands of folks will have had to opportunity to get the research on the 9 Next Gen Cryptos I believe will change the world. It’s been years since I’ve done something like this… And I’d love for you to be there. [>> Click here for access to the Summit]( US and China Target Crypto [Jeffrey Tucker]Dear Daily Prophecy Reader, The headlines blared all over the US papers: China has abolished crypto! My first step was to check the crypto markets. They took a punch, but not a big one. It seemed like a typical response to negative news. Something was up here. Was it really true that crypto had been banned throughout the whole of China? How could this be? It turns out that there was a lot lost in translation, literally. The message from the Communist Party was that cryptos are a source of criminal activity, and as such will be punished. Some version of this “abolition” message has been issued fully 7 times over the last five years. The only real difference with this one was the particular mention of foreign exchanges. China was and is cracking down on people who use VPN services to access them. Long ago, crypto use in China went beneath the radar using VPN services. Americans hardly know how to manage a VPN, but it is commonplace in China. Here’s a good example: Facebook is also banned in China. I’ve never known someone in China who wanted to use Facebook who could not and would not use Facebook with impunity. VPNs don’t make using foreign exchanges risk free, but they set up insurmountable barriers to the goal of the government to end all use of them. It is just not possible. To be sure, there is a real chance that China will also start attacking the crypto-mining sector. It has not done so yet, and that is probably for a reason. It is host to the most profitable mining in the world. An attack would also reduce government revenue and probably imping on some private profits pulled in by high-ranking party officials. Regardless, the message on crypto from the government was most greeted with a giant ho-hum within China itself. So the messaging on all this that we got here in the United States was significantly different from what people on the ground actually experienced. The smart set reads the tea leaves. I gave a hint last week about what’s probably going on in reality. The Race to Create the CBDC CBDC stands for Central Bank Digital Currency. Essentially every central bank in the world today looks with envy at the private crypto sector. How could it have gone from nothing to become such an efficient global behemoth over 10 years with barely any real involvement from governments anywhere in the world? How is it possible that central bankers and the financial establishment allowed this to happen? There was never a hope that these people would look at the rise of private currency and stablecoins and say: well, I guess we’ve been outcompeted. No way. The creation of CBDCs is not so much an upgrade or monetary reform, as it is a competitive move. They want the private sector to be hobbled if not completely smashed to make way for governments to get into the crypto sector. China was way ahead of the US on this front. They are in the first stages of rolling out what they hope will be a real competitor to cryptos and private stablecoins, on the way toward making this product the new global reserve currency. Sounds crazy? Not so much. When the chairman of The Fed himself has to assure the US Senate the US dollar is in no danger of losing its status as the world reserve currency, you can know the following with certainty: the US dollar is in danger of losing its status as the world reserve currency. This also accounts for why The Fed is rushing out its study showing why The Fed needs to create its own crypto currency. It needs not only to compete with Bitcoin and all its derivatives; it now must enter a race with China to be the next generation of world-reserve currencies. The Fed is very much behind in this effort. And it faces another problem: US leadership in the world economy has been set back in dramatic ways over the last four years. Trump took the US out of the Trans-Pacific Partnership, somehow under the belief that doing so would help the US economy. All this move accomplished was to inspire all the remaining countries to tighten their own trade relations and build new supply chains that reduce dependency on the US. The Biden administration is working to fix this problem, even while not rejoining the TPP or reducing tariffs. Its efforts are half hearted at best, and far too slow to get ahead of China. China is now pitching itself as an essential partner in the TPP. The US is in the awkward position of opposing that even as it has lost all influence over who is in and who is not. China will join, and the US will come begging to be part of it in a year or two. [Will this weird device be in your home soon?]( URGENT: Battery Patent No. 3069168 //pro.saintpaulresearch.com/m/1915179?ESP_MAIL_ID=3266244&ESP_ORG=tfp&ESP_EXP_ID=4467733&ESP_CNTC_ID=MDAwMDk2NTg5ODA3&ESP_A=43079 One of Tesla’s senior battery engineers QUIT Tesla and submitted a patent application for a revolutionary new tech process… But he didn’t just quit…he’s brought the chief of Tesla’s entire battery division with him. The man who helped create the original lithium ion battery. And today, you can take advantage of their TINY startup for just $6.00. [This stock]( could skyrocket as much as 100% in a matter of minutes. [Click here for the urgent details.]( [Copy of Official Approval Enclosed (tech)]( Currency for the World This has everything to do with The Fed’s latest moves on currency reform. It needs powerful and technologically sophisticated money to retain the dollar’s status, even as the US is fighting its way back to have influence over the shape of the world trading order. But it is doing this right now at a huge disadvantage relative to China, having lost its high growth economy due to extended lockdowns, its reduced status as a leader in world trade, and its come-from-behind position in currency reform. Thus did this weekend’s headline in the Wall Street Journal hit like clockwork: the US will target private stablecoins in the US for regulation and restriction in the coming years. They claimed that this was to protect consumers against sudden runs on the crypto sector. Baloney. This is an attempt to throttle private monetary markets to prepare way for a release of the Fed’s own version of a crypt-based stablecoin, one that will be backed by the dollar but will also be programmable to allow careful monitoring of the population. In addition, recall the Biden administration has imposed sanctions against a company named Suex in the Czech Republic. Providing zero evidence or documentation, the Biden administration blocked all trading with the company on grounds that it has been behind processing transactions for ransomware. First, the head of the company said this was preposterous because it has only processed half a dozen transactions in two years. Second, ransomware companies DO NOT USE EXCHANGES! What was the point of this theater? Simply to establish a precedent for control. Back to Abolition This takes us back to the China announcement against crypto markets. Recall how China’s lockdowns to control the virus provided the essential model for the US and the UK idiotically to lock down their own economies, panic their populations, and generally make an enormous mess for two years. So too are China’s actions on crypto serving as a model for the US to copy. China wants crypto out of the way so that the Communist Party can lead China and the world in the development of a blockchain-backed currency reform. In this, China is probably 3 to 5 years ahead of the US (and not only in this area but in fin-tech generally). The Fed is struggling to keep up. Tragically, I fear that coming regulatory tangles in the crypto industry area are going to consume vast resources and throttle both technological advance and consumer adoption. What effect will this have on market valuation of cryptoassets? Long term, almost none. Regards, [Jeffrey Tucker] Jeffrey Tucker P.S. Here is your instant access link [Here is your instant access link to my colleague, James Altucher’s Next Gen Crypto Summit.]( Keep in mind this is a first-come, first-served event. Anticipation is high, and with the special link above, you’ve got ‘first read’ access. By the end of the day, hundreds of thousands of folks will have had the opportunity to get the research on the 9 Next Gen Cryptos he believes will change the world. It’s been years since he’s done something like this… And I’d love for you to be there. [>> Click here for access to the Summit]( Former CIA Advisor: “They are LYING about inflation!” Despite the circus of distractions you’re hearing on the news... The lies and the misdirections... There’s one former CIA and Pentagon insider revealing the TRUTH behind the inflation numbers in America. A story so shocking and so powerful that it could bring the Biden Administration to its knees. You might have known something strange was going on in America, but I can guarantee you weren't expecting this. 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