The above image was made with stable diffusion using the prompt 'A woman at a podium colorful cartoon.'
Remember when Elizabeth Warren championed individual interests against the big banks? I was a fan of hers then. She seemed like someone who understood that the banking system as a whole was out of control and needed to be reined in. Unfortunately, none of Warren's bluster ever resulted in this system being fixed. And in the last few years, she's been actively working on behalf of big banks, against individual interests, by attacking crypto.
The emerging blockchain economy is the only real alternative to our hopelessly corrupt financial system. There's not another viable alternative out there, nor is there any chance that the existing system can be reformed. The harm this system does is incalculable. By working to further its interests over the interests of individuals and small businesses, Warren is proving herself to be an enemy of the people.
Along with Kansas Senator Roger Marshall, Warren is making the rounds in Washington to gain support for a bill that she authored in 2022. The Digital Assets Anti-Money Laundering Act went nowhere last year, but Warren and Marshall are determined to keep reintroducing it. Premised on the lie that drug cartels are using crypto, the legislation makes no sense. According to this article, "only about $10 billion or less in cryptocurrency is involved with money laundering each year, compared with between $800 billion and $2 trillion laundered in conventional currencies."
Imagine a wallet on your phone or computer. Now imagine the government trying to force that wallet to jump through the same regulatory hoops that a Western Union has to. Picture a DeFi contract being taken to court. This is the level of absurdity that Elizabeth Warren just won't give up on. Here's a Coin Telegraph quote:
This bill is a Trojan horse designed to destroy the crypto markets under the false guise of a pro-national security bill. It’s a smart strategy. Convince national security conservatives that this is an answer to a perceived problem, particularly members with little background knowledge of how crypto works, and then let crypto development die off. The legislation also seeks to outright ban crypto privacy tools. If the vision of Bitcoin as a means of payment will ever be realized, it needs to be private. Without privacy tools that would be banned by this legislation, every time you use Bitcoin to pay for a coffee, the barista can use your public key to look up your entire transaction history. Thieves and hackers can do the same.
It is telling that Warren is seeking support for this draconian legislation in national security circles. The imposition of a nanny state on the software we use to transact business is perfectly in line with the objectives of the military-industrial complex. It makes sense, which makes it all the more chilling. Warren must know that this puts her firmly on the dark side, however she may rationalize her position.
In a sense, Warren may be making an attempt to seize upon the bad publicity crypto has recently received to bring her dead agenda back to life. Maybe some adviser advised her that it was a good time to resurrect the agenda. Maybe none of her advisors know the first thing about crypto.
When HSBC was caught laundering hundreds of millions for a drug cartel, instead of cleaning up their act, they continued processing billions in suspect funds. Once the more recent laundering activity was reported, Elizabeth Warren had harsh words for the bank and the legal system that treated the bank well. Over the years, I've heard Warren's harsh words many times. And nothing meaningful ever comes from these words. So even though she's now turned her attention to crytpo, we probably don't have much to worry about.
Read my novels:
- Small Gods of Time Travel is available as a web book on IPFS and as a 41 piece Tezos NFT collection on Objkt.
- The Paradise Anomaly is available in print via Blurb and for Kindle on Amazon.
- Psychic Avalanche is available in print via Blurb and for Kindle on Amazon.
- One Man Embassy is available in print via Blurb and for Kindle on Amazon.
- Flying Saucer Shenanigans is available in print via Blurb and for Kindle on Amazon.
- Rainbow Lullaby is available in print via Blurb and for Kindle on Amazon.
- The Ostermann Method is available in print via Blurb and for Kindle on Amazon.
- Blue Dragon Mississippi is available in print via Blurb and for Kindle on Amazon.
See my NFTs:
- Small Gods of Time Travel is a 41 piece Tezos NFT collection on Objkt that goes with my book by the same name.
- History and the Machine is a 20 piece Tezos NFT collection on Objkt based on my series of oil paintings of interesting people from history.
- Artifacts of Mind Control is a 15 piece Tezos NFT collection on Objkt based on declassified CIA documents from the MKULTRA program.
I remember learning about the HSBC money laundering ring and feeling disgusted by the fact that no one was held accountable, even when the truth came out.
It is sad to see Warren bashing crypto. It'd be interesting to have dinner with Warren to pick her mind on this. I wonder what she would say about what a viable US banking system would look like free of money laundering and corporate interests.
I too would like to ask Warren a few questions. I'd be very surprised if she had satisfactory answers. But you never know: )