Crypto Currency Essentially Threatens to Destroy Deep States Control Over Everything

crypto currency

The International Monetary Fund is expressing concerns about the extent to which crypto currency may create problems for governments and central banks. Bitcoin and other crypto currencies are increasingly popular both in the United States and in less developed countries. El Salvador recently became the first country to make Bitcoin legal tender, despite the fact that much of the country lacks internet access and the ability to use it.

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Crypto currency rising in popularity

El Salvador and other crypto enthusiasts are happily proceeding with its use, despite the great uncertainty that surrounds its future.

It isn’t hard to see why crypto currencies are becoming increasingly popular, especially in countries which already face major economic challenges.

The digital currencies offer a potentially more stable alternative to local currencies which are seeing inflation, similar to the way in which certain parts of the world have adopted the dollar.

It might be telling that people in developing countries are beginning to view Bitcoin and others as a more promising alternative for financial stability than the American dollar.

Much of the world is still somewhat unsure of what crypto currency is exactly,  even in El Salvador. Some protested the adoption of Bitcoin in that country and many still distrust it.

They are not alone in that apparently, as the International Monetary Fund is apparently very anxious about the extent to which governments will be able to control crypto currency use.

IMF is concerned

The IMF suggests that governments respond to the rise of crypto currency by issuing digital currencies from their central banks.

Much of the popularity of crypto currency, however, comes from precisely what the IMF is concerned about. Lack of oversight from a central bank is no drawback for many crypto adopters.

One imagines that few crypto enthusiasts are likely to shed a tear when the IMF explains the dangers of tax evasion being facilitated by its use.

China has worked to crack down on crypto, a fact which implies that there is much truth to the claim that governments have reason to be concerned about it.

Americans can be and have been punished financially for expressing the wrong opinions. A currency which is difficult for the government to monitor and control will be popular with individuals who face this risk.

There may be some fear of this related to the strictly economic concerns expressed by the IMF. it must be aggravating to see that people with incorrect opinions are finding alternative ways of transferring money.

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