It’s another day ending in the letter ‘y’ so it must mean an international agency, bankster, or media outlet is attacking cryptocurrency.
Obviously part of this “study” is another desperate attempt to demand the West and those Asian nations not putting the hammer down on crypto trading to do so asap. But it’s a lot worse than that as the article spells out:
Countries with more corruption tend to have more people using cryptocurrencies.
And the evidence of this is?
The issue has been in the news a fair bit lately, as regulators and elected officials argue that Russian oligarchs that support President Vladimir Putin’s invasion of Ukraine may turn to crypto.
Of course. Russia, Russia, Russia. The age old excuse.
The truth is far from that it as the “corrupt” countries they must be referring to have to include a Federal Reserve which has illegally created $9.3 trillion in unauthorized liquidity for overseas banks which mysteriously never had to account for those funds the last decade.
Or perhaps a Speaker of the House who entered office worth a few million dollars and now has net worth of over $250 million. And weirdly enough has condoned insider trading by the Congress along with getting her own stooge appointed to the SEC which overseas all stock trading.
Of course the article goes on to point out the old currency problem like Venezuela:
What sets the IMF researchers’ work apart is that they attempted to account for other factors that could influence outcomes. Among these was “whether crypto-assets are more likely to gain traction in countries where the local currency has historically not been a secure store of value.”
Oddly enough, the US Dollar is not mentioned about being a not so secure store of value. I guess the authors haven’t been shopping in America lately.
It’s not worth rehashing the old arguments against cryptocurrency they are engaged in. I don’t care personally and if people want to gamble on the amount of poop a cockroach produces in a day, make a market for it and go for it.
But this is a far more evil, cynical, attack on the transfer and use one one’s personal capital to spend, invest, or risk using this new digital currency mechanism. Why? Because the new CBDC’s are not ready.
When the central banks impose their digital currencies, the IMF will praise them as freedom goes dark.
Keep up the good fight crypto warriors, as you have some of us old gold bugs on your side.