Is Crypto Bad For The US Dollar? Fox Business – Neil Cavuto With Kiana Danial
Should you worry about cryptocurrencies “killing” the US Dollar? Here’s Kiana Danial’s take on it on FOX business Neil Cavuto’s On ‘Cavuto: Coast to Coast’ as Facebook’s Libra faces bipartisan pushback.
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“If Secretary Mnuchin’s problem with crypto is the danger of it being used by criminals, then I’m gonna have to ask him to ban using the telephone, the Internet, cars, airplanes, and every other technology altogether.
Terrorists can use cars to kill people. Use the Internet to coach other terrorists around the world online. Criminals can use the telephone for ransoms and to coordinate crimes. Especially cell phones. 9/11 literally happened thanks to the advent of airplanes, the Internet, and guns combined. So if you’re against a new groundbreaking technology because you’re worried about criminals, you’re not helping. You’re actually creating a problem through “security theatre”. Because criminals will find a way to do crimes. But the law-abiding citizens will be the ones who will miss out on the advantages of the new technology.
Now if you’re worried about crypto hurting the US dollar, it indeed may hurt the dollar and the banking system as we know it. However, there’s a reason for the government to actually get behind crypto. It is based on the reality that central banks and the Fed messing with the money supply has induced recessions, intensified unemployment, and given rise to a global banking system based on profiteering and corruption. We all know where the REAL criminals are here, and they are in charge of people’s money. A recent example is the mortgage-market shenanigans underpinning the financial crisis of 2009.
Assuming that our government is working in favor of the people in this country, they should hop on the crypto train quick before other nations take the lead in the space. In fact, other nations already have and the U.S. is falling behind.
Re. Libra: it is not a real cryptocurrency as it is centralized and doesn’t operate the way the revolutionary Bitcoin does. I’m not a fan of Lybra and I think it will put more monolopy power in the hands of Facebook, instead of creating a peer-to-peer, decentralzied economic system the way Bitcoin and other cryptocurrencies intend to do. ”
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