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Top 5 Cryptocurrencies Exceed $1 Trillion Now!

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EDITOR NOTE: The Fed doesn’t want any competition to its monetary monopoly. The US Treasury doesn’t want to see money escaping a system in which it exerts dominance and control. The solution would be to punitively stamp it out by levying a heavy tax burden on those who dare speculate in an alternative currency toward which the government can still exert its regulatory powers. We’re talking about cryptocurrencies, a “short-the-Fed” trade whose top five currencies just hit a market cap of over $1 trillion. The problem is that, unlike non-CUSIP gold and silver, ownership of these cryptos is eventually trackable and vulnerable to government intrusion. Maybe the blockchain itself may render some cryptos private, but the exchanges and technology providers can’t escape the prying eyes of Big Brother. The sad thing is that upon conversion to dollars, not only might crypto holders be subject to heavy taxes, the dollars they convert to are more watered down than when they first invested. Why go through the hassle of investing in an unstable currency that has no real transactional function, privacy, or intrinsic value when a “sound money” alternative is already much more stable, private, and convenient? 

Gold and silver rose on Monday morning while cryptocurrencies Bitcoin and Ethereum fell.

Cryptocurrencies (top 5) have exceeded $1 trillion.

To be sure, big taxes on cryptocurrencies are on the radar as The Federal Reserve tries to kill competition for the US dollar. Although The Fed has already destroyed the purchasing power of the US Dollar for wage earners.

Yellen is going big with MMT (Modern Monetary Theory),

Cryptocurrencies Exceed

As the Treasury curve goes parabolic.

Janet “Go Big or Go Home” Yellen.

Cryptocurrencies Exceed

Originally posted on Confounded Interest

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