Destabilizer in the country Hillary Clinton warned of that cryptocurrency has the potential to destabilize countries, and weakened the role of the U.S. dollar as a global reserve currency.
During a panel discussion at the Bloomberg New Economy Forum on Friday in Singapore, Clinton scrutinized a list of “asymmetric power centers” driven by technology that threaten governments, including ‘disinformation, artificial intelligence , and the rise of cryptocurrency, ’according to Bloomberg.
“Another area that I hope countries will start to pay more attention to is the rise of cryptocurrency-because it looks like a very interesting and somewhat exotic effort to literally mine the bag. coins to sell with them. has the potential to weaken currencies, for undermining the role of the dollar as a reserve currency, for destabilizing countries, perhaps starting small but larger., ”He said.
as Bitcoin MagazineAlex McShane notes:
To describe this vague threat to countries and multinational corporations Hillary betrays the fact that she doesn’t know the difference between Bitcoin and the different asset class of cryptocurrencies. Many politicians do not. Terms should not be used interchangeably.
Bitcoin guarantees anyone with internet access a decentralized, unrestricted property right that will not be confiscated or censored by any government. No one in the Bitcoin network is forced to choose between updating their software or risk losing their wealth, it’s backwards compatible. Bitcoin is a geographically agnostic personal sovereign wealth fund. Some thousands of cryptocurrencies are centralized and mostly uncontrolled assets whose protocol can be changed at any time, thus, in crypto the threat of property confiscation persists. Bitcoin and crypto are completely different asset classes.
So, when Clinton casually tossed crypto with her laundry list of threats to her political and economic worldview, she was so wrong. Cryptocurrencies cannot weaken fiat currencies or states directly, because what they offer is basically the same as fiat, which is an asset that can and is subject to management.
Reprinted from ZeroHedge.com with permission