It was reported in the Wall Street Journal on Thursday that our mafia like government has decided to start treating all virtual currencies like Bitcoin under the rules of money laundering. Of course they throw out the old excuse of “it is used to commit illegal…blah, blah”.
What does the Mafia do when a rival organization starts creeping in on their business and operations? They start a gang war and crush them. The Mafia hates competition in crime. So does our government.
They have a solid strangle hold on the printing of currency and the regulation of virtually every financial dealing not only within the U.S. but also many other countries. For example, the IRS has very few places in the globe it can’t reach.
Bitcoin was that rival gang showing up. It allowed a totally private and non-government controlled currency for freedom loving people to use. That infuriates the government control autocrats! How dare anyone have access to financial privacy or a stable currency that isn’t printed up out of thin air. So they have moved to crush it under the rules of “money laundering”.
Don’t ever forget crime syndicates hate competition.