Tuesday, May 23, 2017

U.S. Congresswoman submits bill to tie cryptocurrencies to terrorism but real threat is fear of Bitcoin supplanting the dollar

On May 18 U.S. Congresswomen and member of the House Counterterrorism and Intelligence subcommittee Kathleen Rice, pushed through a bill that would call for a threat assessment of all cryptocurrencies and their ties to terrorism and the funding of it.  However according to cybersecurity experts, the real reason for the this bill is the growing fear by Washington that Bitcoin and other cryptocurrencies could, and are supplanting the dollar and other global sovereign fiat currencies.

US Congresswoman Kathleen Rice has introduced a bill tasking Homeland Security with conducting a threat assessment for terrorists using virtual currencies such as Bitcoin, despite evidence terrorist groups use such payment methods is scant. A cybersecurity expert has told Sputnik the real fear is Bitcoin supplanting national currencies. 
"We will see an increase in terrorist groups using it as more and more members of the public use it. More people know about it, more and more websites accept it as a payment method, it's becoming increasingly pervasive in the digital world. It can be used for good or bad, but I hope it'll become a universal currency. There is no central authority with Bitcoin — no banks or financial organizations control it, the people who own it do — and users can bypass a lot of financial services fees as a result," he adds. 
Still, Dr. Curran believes there's "no doubt" Bitcoin will be the currency of the internet in years to come. It will become more regulated, and politicians will progressively view it as a threat to mainstream financial institutions and currencies as it becomes further accepted. Moreover, he's certain it'll be difficult if not impossible for governments to truly put a stop to it — the internet has no borders, and national bans won't be effective. – Sputnik News
For all intents and purposes, nearly every war is a 'banker war', or the need for the U.S. to ensure that dollar hegemony reigns supreme over the global financial system.  And when you look at the true underlying reasons behind the ousters of Libya's Muhmmar Ghaddfi, and Iraq's Suddam Hussein, and the insurgencies of Ukraine and Syria, then you would find that every one of them either had to do with protecting the dollar as the global reserve currency, or protecting the petrodollar system that is being supplanted by Russia's new pipeline projects.

Thus anyone who doesn't believe that as Bitcoin and other cryptocurrencies rise in both popularity and use that the U.S. government will not take steps to ensure their failure or encapsulation, is someone who has not paid attention to history and the willingness of Washington to use any means necessary to protect their monetary dominion over the rest of the world.

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