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Crypto Vs Central Banks- Let the Battle Begin

Summary:
Crypto Vs Central Banks- Let the Battle Begin In today's episode, Dave Russell of GoldCore TV talks about how the rise of cryptocurrencies has become a threat to government-issued currencies worldwide, and are the central banks targeting #cryptocurrencies? He talks about Elon Musk's comment on Saturday Night Live lead Dogecoin, a cryptocurrency to initially rally before promptly losing 40% of its value. Previously tweets by Elon Musk sparked a bitcoin buying spree when he revealed that Tesla was diversifying a portion of its cash assets by purchasing the cryptocurrency. He also discusses Andrew Baily, the Governor of the Bank of England's comment about cryptocurrencies suggesting that people should invest if they are prepared to lose all their money. Such series of comments and actions

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Crypto Vs Central Banks- Let the Battle Begin



In today's episode, Dave Russell of GoldCore TV talks about how the rise of cryptocurrencies has become a threat to government-issued currencies worldwide, and are the central banks targeting #cryptocurrencies?



He talks about Elon Musk's comment on Saturday Night Live lead Dogecoin, a cryptocurrency to initially rally before promptly losing 40% of its value. Previously tweets by Elon Musk sparked a bitcoin buying spree when he revealed that Tesla was diversifying a portion of its cash assets by purchasing the cryptocurrency.



He also discusses Andrew Baily, the Governor of the Bank of England's comment about cryptocurrencies suggesting that people should invest if they are prepared to lose all their money. Such series of comments and actions have been implied by many central bankers, regulators, and legislators.



#DavidBrady of Global Pro Traders and legendary investor and former business partner of George Soros, #JimRogers previously appeared on GCTV discussing how government’s view cryptocurrencies and how they might react in the future.



As per Jim Rogers, if Bitcoin becomes a viable currency the government would immediately ban those since the government would not want to lose its control over their own currency.



According to David Brady, the central banks might ban these cryptocurrencies in the future paving the way for the government to introduce their own Central Bank Digital Coins #CBDC. He also implies that the tax authorities might tax these transactions.



The emergence of cryptocurrencies has become a danger to all government-issued currencies around the world. And, if left unchecked, it would be a growing challenge to the US dollar's position as the world's reserve currency. There are also unsubstantiated rumors that the Biden administrations are planning to introduce an 80% capital gains tax on cryptocurrency profits.



Other countries are also taking action too. India has not only planning to ban their possession but also the trading, mining, and transfer of them as well and made a criminal offense.



Ireland has introduced more stringent anti-money laundering rules. Whereas Iran has stated that any transactions of cryptocurrencies that were mined outside of Iran are now restricted.

Meanwhile, in China, the China Citic Bank has now announced that Bitcoin-related transactions are prohibited.



Dave believes that cryptocurrencies have rallied because of the mismanagement of monetary policy by the world’s central banks and not due to technology.



The popularity of cryptocurrencies has in no small part been fueled by unprecedented money printing and fears of inflation.



However, these regulations on cryptocurrencies won't make these problems go away it would just remove one canaries in the coal mine. But there are other canaries like gold and silver, which will continue to perform this function.



00:00- Intro

00:31- Elon Musk on Dogecoin

01:24- A battle between crypto and central banks

02:19- Jim Roger's views on how government might react to cryptocurrencies

03:34- David Brady's views on how government might react to cryptocurrencies

05:48- A threat to government issues currencies

06:40- Cryptocurrency market in India

06:51- Cryptocurrency market in Ireland

07:16- Cryptocurrency market in Iran

07:27- Cryptocurrency market in China

08:14- Other canaries like gold and silver



If you're looking to buy gold or silver coins or bars, GoldCore currently has good stocks available visit the following website to learn more:

US & ROTW - https://www.GoldCore.com

UK - https://www.GoldCore.co.uk

Ireland - https://www.GoldCore.ie



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19 comments

  1. can agree with jim rogers point, anyone investing in crypto thinking it will be the future currency is completely lost, the government wouldn't allow it, it's not even good at being a currency, if it WERE allowed the crypto community wouldn't be able to agree on which of the thousands of cryptos would be the best to use, and good currency has always been a commodity first, not currency first. it's a purely speculative asset

    • Not everyone in the crypto community want it to be a currency. People like Saylor see it as a reserve asset. The gov also doesn't see it as a currency.

    • Sir Rather Splendid

      It’s an asset whose only value is its scarcity. And yet anyone with a few computers and a little knowledge can start a new crypto at any time? Something there doesn’t add up.

  2. Govs can ban anything. Be wary, if they do, they can come after your metals, real estate, etc. It's much bigger than BTC.

  3. 80% plus 10% FOR THE BIG GUY

  4. They who you call the GOVT are Who….? We are a Divided world you are talking about the Yanks whose Empire is over Im sure they will destroy as many as possible on the way out but blockchain will stay.

  5. These guys are elitist Nobs, the government banned booze , weed and million other things. They just increased its use. The banks are already dead and many governments will follow their banker bosses into the toilet soon. They tried to get complete control with this COVID bio weapon release they will now pay the price for their insanity 😎🇺🇸🇺🇸🇺🇸

  6. Ownership of Gold was banned in the US in 1933 by President Roosevelt. People had to hand it over, or face prosecution. It can happen to any assett, not just Crypto.

    • And just as when ownership of gold became a threat to the existing system as it was in 1993 and it was therefore banned, so will be cryptos if and when they become a threat. It's very easy to do: governments effectively control businesses through regulation and taxes, so their acceptance of cryptos as payment for purchases will be made illegal.

    • Sir Rather Splendid

      @Winston Smith — Was gold a threat to the system in 1933? Don’t think so. The banksters just figured that getting hold of a huge wadge of it at well below market price (paid $20, and then immediately reset it to $35) was a great way to sure up the government’s books. And they wanted foreign trade partners to see they had gold to back their purchases.

  7. Interesting argument, predicated on the notion that governments yield power via tanks and guns. This is only true while the people support the government (including the people driving the tanks and holding the guns). If the currency collapses and hyper-inflation arrives, the public confidence in government and central banks may evaporate – in which case their rules and regulations against private money like crypto become irrelevant.

    Anyone under the illusion that governments, central banks, UN. WEF, the Illuminati, etc. are sources of power may be in for a paradigmatic shock when the shit hits the fan. Power is only given from the many to the few, and can be taken back on a moment's notice. It's always been this way. It is the meta narrative of human history.

  8. Lukasz Kaczmarzyk

    On some stages they will come for your gold as well as they did in the past…..

  9. Melissa Martin

    CCP is scared to death to lose control!

  10. Melissa Martin

    I am sure that all leaders around the world own crypto

  11. SvSkarl von SVSkarlsrich

    People said that governments cant trace your BC. How about they shut down the internet, or even the electric supply in the case of martial law.
    Funny?
    NYC got blacked out, the Eastern are now telling us the oil stories.

  12. Trots out the granpas and granny's to tell us about a future which their greed created.
    And tells us if you do not comply we will just take it off you, we have Tanks ! Fuck Right Off!
    Who the fuck dresses like that theses days.?

  13. The "government" said "Don't use marijuana"

  14. I firmly believe that the Government can’t stop crypto at this point. It’s going to be a means of exchange for goods and services. So far what I know – which is shit – the government is going to treat crypto as property that can and will be taxed.

  15. $2 trillion has made its way to the crypto market. Private, fungible cryptos like Monero and Pirate Chain are where much of this and new money will find a home once investors figure out that Bitcoin, Ethereum etc are not private. I am long fungible cryptos and precious metals. Atomic swaps between Bitcoin and private, fungible cryptos are on the way. It will not matter that the exchanges will be under pressure to ban them. The introduction of atomic swaps is the game changer.

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