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Congressman Calls for Bitcoin Ban Because It Could End the Federal Reserve

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Bitcoin Ban Kill Federal Reserve
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Politicians in the United States are finally voicing a concern that had previously only been heard on the fringes of economic discussions: cryptocurrencies such as bitcoin pose an existential threat to the financial system and the central banks that ensure its operation.

The concern comes as bitcoin regains its clout after facing what many analysts saw as its terminal decline in late 2017, when its price began to precipitously fall. However, bitcoin is now holding steady at around $8,000 per bitcoin, about double its price at the start of the year.

The fierce return of the cryptocurrency, as well as its capability to skirt global U.S. monetary controls, has caused U.S. Democratic Congressman Brad Sherman to push his fellow legislators to comprehensively ban bitcoin and other cryptocurrency on the basis of the threat it poses to U.S. control over international finance. In his words, bitcoin must be “nipped in the bud.”

According to Crypto News, earlier this month Sherman told a meeting of the House Financial Services committee:

“I look for colleagues to join with me in introducing a bill to outlaw cryptocurrency – the purchases by Americans – so that we nip this in the bud in part because an awful lot of our international power comes from the fact that the dollar is the standard unit of international finance and transactions.

Clearing through the New York Fed is critical for major oil and other transactions. It is the announced purpose of the supporters of cryptocurrency to take that power away from us, to put us in a position where the most significant sanctions we have against Iran, for example, would become irrelevant.”

The beauty of bitcoin, in the eyes of its users, is its ability to transport great value across borders without the scrutiny of governments and law enforcement, earning the reputation of an asset to various criminals, terrorists and tax evaders.

Meanwhile, U.S. sanctions cutting off entities in Russia, North Korea, Iran, Venezuela, China and others from the world financial market have forced these countries to seek ways of avoiding the crippling effects of the sanctions and account freezes.

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The increasing use of non-dollar currencies and cryptocurrencies, including the volatile bitcoin and a number of similar decentralized coins, has eroded confidence in the U.S. greenback’s previously unquestionable grip on world energy markets and global finance.

Frank Hu, chief executive of HBUS, a U.S. partner of the Singapore-based Huobi bitcoin and cryptocurrency exchange, told Forbes:

“Over the past few years, the digital asset and blockchain sector has faced massive shifts. Despite the volatile crypto markets, we’re seeing governments and businesses adopting blockchain technology at a rapid pace.”

Sherman, a California Democrat and proponent of sanctions who once derided cryptocurrencies as “a crock,” is now calling for the U.S. to prevent people from buying or mining cryptocurrencies. He continued:

“So whether it is to disempower our foreign policy, our tax collection enforcement or traditional law enforcement, the advantage of crypto over sovereign currency is solely to aid in the disempowerment of the United States and the rule of law.”

Bitcoin advocate and trader Anthony Pompliano wrote in a blog discussing Sherman’s attack, that a ban on bitcoin will likely strengthen the cryptocurrency. Pompliano explained:

“While many people will claim Brad Sherman doesn’t know what he is talking about, I would argue that his statement highlights that the Congressman knows exactly what is happening … He sees the increased probability that we are moving to a world where non-sovereign currencies are the default and it sounds like he is scared.

Mr. Sherman realizes that the United States, and other countries with major currencies, will lose considerable power if they are no longer in control. While his understanding of the technology’s potential is accurate, it appears that the Congressman does not understand the improbability of being able to ban ownership of these decentralized digital currencies. The laws could be created but they would be nearly impossible to enforce.”

In an interview with Bitcoin Magazine, former U.S. Congressman Ron Paul noted that, regardless of any moves to suppress bitcoin, the U.S. dollar faces a grim future. Paul said:

“He’s speaking for the deep state establishment, military people and everyone else in the banking system. He’s representing their position that ‘You don’t mess with the dollar.’ But I don’t worry about that because the dollar is going to self-destruct.”

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Bizarre

The Notorious ‘Gateway to Hell’ May Finally Be Sealed, Turkmenistan’s President Says

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The Central Asian nation of Turkmenistan has long been host to what has been dubbed the “Gateway to Hell” – a massive hole in the ground that has been smoldering for about five decades.

However, the country’s government is now moving to finally extinguish the blazing natural Darvaza gas crater which lies in the center of the huge Karakum desert.

This isn’t the first time that President Gurbanguly Berdymukhamedov has spoken of extinguishing the so-called portal to the underworld. In 2010, the strongman leader also ordered that experts investigate how best to put out the flames, which have been raging since a mishandled Soviet drilling expedition in 1971.

To prevent a disaster resulting from the spread of dangerous fumes, Soviet authorities decided it would be best to burn off the gas by setting it alight.

As a result, the 229-foot (70 meter) wide and 65-foot (20-meter) deep crater has been ablaze ever since, drawing tourists to the former Soviet country.

In 2018, the government officially renamed the pit the “Shining of Karakum.”

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This week, Berdymukhamedov decried how the gas crater “negatively affects both the environment and the health of the people living nearby,” reports AFP.

“We are losing valuable natural resources for which we could get significant profits and use them for improving the well-being of our people,” he added in the televised statement, noting that officials must “find a solution to extinguish the fire.”

Turkmenistan is known to possess the fourth-largest known reserve of natural gas in the world, reports VICE, and its economy is dependent on the export of the raw resource.

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Corruption

Turns Out Schrödinger, the Father of Quantum Physics, Was a Shameless Pedophile

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Long hailed as one of the fathers of quantum physics, celebrated physicist Erwin Schrödinger is now being reevaluated after damning evidence was published that shows that the scientist was a pedophile and serial “sexual predator.”

Schrödinger, a Nobel Prize-winning Austrian-Irish scientist remembered for his 1935 thought experiment “Schrödinger’s Cat,” was exposed as a pedophile by The Irish Times in a December report detailing his unapologetic record as a serial abuser of young girls and women.

Since the report’s publication, academics and faculties across the globe have been distancing themselves from the physicist and launching petitions to remove his name from their facilities.

The physicist made foundational contributions to quantum theory and is largely responsible for the current craze for quantum computing, but his extracurricular activities have been exposed as being fundamentally exploitative and abusive toward girls and women.

According to 2012 biography Erwin Schrödinger and the Quantum Revolution by John Gribbin, which the Irish Times cited, the physicist became preoccupied with, and groomed, a 14-year-old girl named Itha Junger after becoming her math tutor. Schrödinger, who was middle-aged at the time, impregnated her when she was 17.

That year, Junger became pregnant and resorted to a horrific abortion that left her sterile, leaving the relationship in tatters.

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The physicist also kept a record of his sexual exploits, which included being “infatuated” with a 12-year-old girl named Barbara. He only relented from pursuing the child after her family members protested. He later wrote in his diaries that the child was “among the unrequited loves of his life”.

Schrödinger, Life and Thought author Walter Moore noted that the physicist’s scummy attitude towards women “was essentially that of a male supremacist.”

Students and lecturers are now rejecting the scientist. In his adopted country, Ireland, a petition has been launched to change the title of a facility at Dublin’s Trinity University that’s named after him.

 “It seems in bad taste that a modern college such as Trinity – one that holds lectures to both men and women, one that (hopefully) rejects the abuse of women, of young girls or, indeed, of anyone – would honour this man with an entire building,” the petition reads.

“We can acknowledge the great mark Schrodinger has left on science through our study, and this petition does not wish to diminish the impact his lectures or ideas had in physics.”

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Corruption

Queen Strips Prince Andrew of All Royal Titles as Child Sex Abuse Trial Looms

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Britain’s Prince Andrew has been unceremoniously stripped of his military and royal titles, Buckingham Palace announced Thursday, just one day after a Manhattan judge gave the green light to a sexual abuse lawsuit against the disgraced son of the Queen.

Andrew, 61, is now unable to use the title “His Royal Highness” in any official capacity and his other roles as the Duke of York will be distributed among the other members of the House of Buckingham.

“With The Queen’s approval and agreement, the Duke of York’s military affiliations and Royal patronages have been returned to The Queen,” the royal family said in an official statement, reports CNN. “The Duke of York will continue not to undertake any public duties and is defending this case as a private citizen.”

Prince Andrew faces a civil lawsuit from Virginia Giuffre Roberts, 38, who alleges that she was forced by late financier Jeffrey Epstein and his partner Ghislaine Maxwell to have “disgusting” sex with the duke in London when she 17, a minor under U.S. law. Giuffre claims that Andrew knew at the time that she was underage.

According to her lawsuit, she feared disobeying Epstein and Maxwell due to “their powerful connections, wealth and authority.” Andrew, however, vociferously denies the claim.

The ongoing drama surrounding Andrew has already led to the Queen stripping her middle son of performing royal tasks following his humiliating 2019 interview with the BBC where he attempted to justify his friendship with Epstein and Ghislaine Maxwell, who was recently found guilty of sex trafficking.

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At the time, the prince – a former Royal Navy helicopter pilot who flew missions in the 1982 Malvinas War – was allowed to retain his military titles, which included vice admiral of the Royal Navy and colonel of the Grenadier Guards.

However, Buckingham Palace had faced strong pressure from military groups to strip the Duke of York of those titles.

“We understand that he is your son, but … please do not leave it any longer,” a group of 150 veterans wrote in an open letter to the monarch.

“All of us have served our country and are proud to have done so. For that reason, we are particularly upset and angry that Prince Andrew remains a member of the armed forces and continues to hold military titles,” the veterans added.

“Officers of the British armed forces must adhere to the very highest standards of probity, honesty and honorable conduct. These are standards which Prince Andrew has fallen well short of,” the letter said.

Andrew is likely to face a trial in Manhattan federal court later this year following the court’s Wednesday ruling.

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