Mnuchin Warns Against Bitcoin Becoming the Next ‘Swiss Bank Account’ (The central planners want to control EVERYTHING)


Trump’s folks are going after legal pot and Bitcoin? 2 of the most positive and pro-liberty developments of the last few years? Munchin, “Mr. Goldman Sachs,” Mr. “my bank was bailed out by the American taxpayers” is complaining about cryptocurrencies?

Trump needs to rein these guys in or he’s going to lose a lot of support, particularly from younger people.

Swamp drained? It doesn’t look to be the case. Trump needs to be careful here. He could see a rebirth of serious TEA Party libertarianish sentiment.

(From Bloomberg)

U.S. Treasury Secretary Steven Mnuchin said he will work with the Group of 20 nations to prevent cryptocurrencies such as bitcoin from becoming the digital equivalent of an anonymous Swiss bank account.

Speaking to the Economic Club of Washington on Friday, he said wants to ensure “bad people cannot use these currencies to do bad things.”

What? Like what the people who hold DOLLARS at Wells Fargo or HSBC do?

Under U.S. law, “if you have a wallet to own bitcoins, that company has the same obligation as a bank to know” you as a customer, Mnuchin said. “We can track those activities. The rest of the world doesn’t have that, so one of the things we will be working very closely with the G-20 is making sure that this doesn’t become the Swiss bank account.”

The central planners want to be able to control everything in the economy. You? Your privacy? Your liberty? That means nothing. They must be in control. They must have it all.

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