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SEC Chairman Gary Gensler Attacks Bitcoin; Claims It Undermines The U.S. Dollar

I wonder if he can say these words and a central bankster can drink a glass of water at the same time? He speaks like a captured man.

Key quote: *“We layered over our digital money system about 40 years ago with money laundering and various sanctions and regimes around the globe; we layered that over a digital currency system called our banking system,” Gensler said. “In 2008, Satoshi Nakamoto wrote this paper in part as a reaction, an off-the-grid type of approach. It’s not surprising that there’s some competition that you and I don’t support but that’s trying to undermine that worldwide.”consensus.”*

[https://bitcoinmagazine.com/business/bitcoin-competes-with-the-us-banking-system-says-sec-chairman](https://bitcoinmagazine.com/business/bitcoin-competes-with-the-us-banking-system-says-sec-chairman)

BTW, Gensler can’t have it both ways, allowing a futures ETF, but drawing a line at Spot ETFs. Futures helps The Establishment Wall Street Traders manipulate the market, so he can’t turn around and say “I need protections for the little guy!” when he’s only taking care of the Wall Street players.

He’d have some credibility if he didn’t allow any ETFs, but he has picked sides, picked winners and losers, and he’s on the wrong side of history. He’s manipulating the system for Wall Street, not looking out for the average investor. He reeks of corruption.

And him calling the USD an asset is a joke! Either he thinks you’re an idiot, and don’t know the difference between currencies and assets, or he’s a corrupt liar. Pick one.



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46 Comments

  1. The world put trust in USD, but they print more than the GDP and now the world is absorbing the inflation from the States. Plus the States just print and buy resources abroad. Now BRIC countries are looking for something for an alternative.
    I would say that the U.S. Dollar undermine the world economy with so much money dilution.

  2. Y’all should read the article and form your own opinion. Don’t rely on OP to interpret it for you.

    From my own perspective, OP took things out of context. Gensler isn’t perfect, but this article isn’t saying he wants to ban it like OP is implying. GG is acknowledging it’s a certain type of competition and saying investors should choose how they invest based off their risk tolerance.

    He SpEaKs LiKe A cApTuReD mAn. No, he is speaking as someone who knows bitcoin (likes it) and occupies a high-powered political position. He is playing a game that you and I are not privy to. Do you want the SEC chair to say “fuck the dollar”? Even if that’s what he feels he would be booted and someone much more anti-bitcoin would fill his spot.

  3. **What Gary really wants** is a wholesale rollout of Know-Your-Customer (KYC) regulations to cover all these new digital assets and bring them under the **ruling mafia’s threat of confiscation**. They must know at all times where they can find ALL your money.

    **Hey, fiat slave. Yes, you there!**

    **You do as we say. Or else we press the button. That will empty and freeze your bank account; and then you are finished!**

    **Are you listening, you uppity fiat serf?**

    So, show some respect to your button-pressing overlords, because they want to protect you! They will always protect you from not doing what is in your own best interest. Either you obey, or else you will be made to obey. The choice is yours.

  4. So the USD digital currency will start off with 100 trillion units, and they will only create 100 trillion units every year to give to their friends. That should keep inflation down…

  5. Almost there, Gary. This is a rejection of the 50 years of absolute trash monetary policy that has been inflicted upon us all. Sorry you perceive that as a threat, but the current system is a threat to our wealth and freedoms.

  6. Am I wrong in thinking it’s not the job if the SEC to protect the dollar? Isn’t his lane more focused on protecting investors by regulating exchanges and securities markets?

  7. I would accuse them of being some control freaks, by they never had or wanted any control within the field they should supervise. I wonder what was their opinion back in 2006 when the trading of derivatives was a wallstreet gang-bang.

  8. Also I hate when confident public figureheads try using the jedi mind trick of “now, you and I both don’t like this, but…” whenever I see someone try that trick I roll my eyes at how dumb they think their audience is

  9. Ok, how do you *define* the US dollar? Is it an equitable means of trade between two entities? Or is it a method of control and power to suppress your own population and further more suppress the world to your will.

    The dollar is a fucking scam. Anyone can see it. Sorry you lost your best tool of control, Im sure your Cherry picked top of the class fuck faces can be easily coerced to invent and create new methods of control no one would even be able to dream about except those people.

    Sorry it’s a bit harder for you now that people see through your bullshit. You’re just gonna have to work like the rest of us to find a new way of control and oppression. That *is* tour business after all, don’t feel so smug. BITCH.

  10. >It’s not surprising that there’s some competition that you and I don’t support but that’s trying to undermine that worldwide “consensus.”

    Very clever language play by Gensler. Listening to this statement, it seems he is almost suggesting that the current generalized worldwide monetary policy was actually deliberately chosen by any meaningful quantity and variety of people and that it was done so consciously. He is almost suggesting that this policy isn’t in fact a trap for the corrupt to siphon 99% of the wealth and productivity of the world for their own control and pathological need. Very nice use of the term “consensus,” Gary. The Consensus of the Oppressor. The Consensus of the Overlord. Sounds very dystopian, Gary. Would you like to receive my singular consensus of the best monetary policy for you and yours, Gary? Shall we use that in bright speeches that vapidly omit reason, logic and fact so that we might play politics and maintain our carefully curated smile?

    It’s clever for Gensler to imply this because it’s patently and demonstrably false and if he said so outright he would be branded as the liar that he is. He’s like the Pope – slightly better than the last one but still DOING NOTHING to resolve the deep and rampant corruption that is costing people RIGHT NOW, to THIS DAY. HERE AND NOW.

  11. He’s not wrong. BTC absolutely undermines the dollar, but also every other centralized currency in existence. There is also nothing wrong with that because people are gaining independence.

  12. > BTW, Gensler can’t have it both ways, allowing a futures ETF, but drawing a line at Spot ETFs. Futures helps The Establishment Wall Street Traders manipulate the market

    That’s literally the role of the SEC, help banks manipulate the market while pacifying the reaction from Main Street by pretending to be the police

    the amount of blatant crime that happens right out in the open is way beyond the threshold of deniability, the SEC is without a doubt complicit in massive financial crime syndicates, examples are endless

    https://tradingeconomics.com/united-states/money-supply-m1

    Anyone who wants to tell me Bitcoin needs to be limited so that I can be forced to accept this kind of slavery to a central bank, can go fuck themselves. Unacceptable, full stop

  13. Remember when everyone thought having an informed person as SEC chair would help crypto?

    Looking more and more like the government just finally found someone informed enough to actually do some damage.

What do you think?

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