the U.S government wants to cut off crypto's access to Banks this is a scripted planned
ploy to take down or otherwise control cryptocurrency all right if bombshell
report tonight about how Elizabeth Warren Senator Elizabeth Warren and her office
coordinated testimony with the Security and Exchange Commission ahead of a senate hearing
it's called The American Dream because you have to be asleep to believe it crypto companies May
soon find themselves deprived of banking services in the United States just like online poker was
during the Obama ERA this is according to Nick Carter Castle Island general partner Nick Carter
believes the crypto industry is under attack by the United States government in a sub-stack post
published the other day Carter claimed that the Biden Administration was currently quote using
the banking sector to organize a sophisticated widespread Crackdown against the crypto industry
by discouraging Banks from doing business with crypto companies it's a big Club and you ain't
in it according to Carter the government's approach replicates a strategy employed by
the Obama Administration thank you named Operation choke point which sought to marginalize specific
industries by restricting their access to banking impacted Industries included the
online poker industry Firearms manufacturers adult entertainers lotteries and Money Transfer networks
with regards to the cryptocurrency space Carter listed 14 instances in the last 10 weeks in which
crypto-friendly banks had faced pressure from the government or had otherwise elected to stop
providing services to crypto companies he claimed that influential members of Congress the Federal
Reserve the Federal Deposit Insurance Corporation and the office of Comptroller of currency and the
Department of Justice were all implicated in what he called operation choke point 2.0 notable among
these events were statements made by the Fed the FDIC the OCC and the National Economic Council
strongly discouraging Banks from holding crypto or dealing with crypto clients on a safety and
soundness basis the US government is going for the approach of attacking and punishing crypto
rather than creating clear guidelines for this budding industry so why isn't the US government
helping us why are they punishing us it's because Bitcoin and crypto are an existential crisis and
a direct threat to those in power and the status quo as it is CEO of two crypto companies Adam B
Levine and host of markets daily podcast explains this what it really comes down to is that Bitcoin
and cryptocurrency represents a threat to the US dollar it doesn't represent a threat in the short
term it represents an existential threat in the more medium term when the US dollar inevitably
has to restart its system because the way that things are going are not sustainable and they
will not continue if it history is any guide what if I told you that this was all scripted
would you believe me what if I told you that the theater that they put on on TV it's just that
it's theater and the questions and the answers have already been planned they make it look like
it's off the cuff but it's not it's orchestrated example congresswoman Elizabeth Warren and SEC
chair Gary Gensler their scripted ploy to control crypto all right a bombshell report tonight about
how Elizabeth warned Senator Elizabeth Warren and her office coordinated testimony with the Security
and Exchange Commission ahead of a senate hearing the Heritage Foundation oversight project of which
I'm Associated through a foia request obtained emails from Warren's office to the office of
chairman Gary ginsler two days before his Senate testimony back in September of 2021. the email
from Warren's Economic Policy advisor includes a list of questions get this a list of questions
that Senator Warren planned to ask along with suggested answers for the chairman of the SEC
the advisor also wrote quote let me know if you're okay with the questions as currently written two
days later she sent a follow-up quote let me know if it's looking like the chair has any issue with
the framing of the questions definitely don't want to put him in a tough spot end quote and
it appears the chairman didn't have any issue with these questions because Senator Warren
asked almost verbatim from the email check this out chair counselor Advocates say crypto markets
are all about financial inclusion but the people who are most economically vulnerable are the ones
who are most likely to have to withdraw their money the fastest when the market drops does this
sound like the path to financial inclusion do you it's all scripted it's all planned and actually
if you look into it to almost any previous past conversation between again let's say Elizabeth
Warren and SEC chair Gary Gensler notice how she compliments him notice how she has the questions
ready to go Gary has the answers ready to go under a Warren from Massachusetts uh thank you
Mr chairman and welcome Mr Gensler uh I remember your work at the cftc and I anticipate that you
will show the same Independence and courage as head of the SEC so as you know the sec's job
is to protect investors maintain Fair orderly and efficient markets and facilitate Capital formation
but it is falling down on the job and so since we're limited for time I'm just going to pick
three examples the SEC is not requiring companies to make full public disclosure
about climate related risks the SEC is letting companies leave their investors in the dark about
predatory private Equity practices and as Gamestop recently demonstrated the SEC stands by while the
stock market too often functions like a casino where the roulette tables aren't on the level
so let me go back through these let me start with climate risk Mr Gensler is there any
reason why companies should be able to hide their climate risks from their investors
um Senator no I think that particularly material materiality is a point here but no they should
not be able to hide their okay good now let me go to private Equity it's always like this narrative
versus reality the SEC says their job is to protect investors but if that's so where are the
rules yeah I mean I think that this comes back to what we always see from the political space which
is narrative versus reality The Narrative is that the sec's role is to protect investors the reality
is is that if they wanted to protect investors they would have given us rules that would have
been tailored to the technology rather than just trying to essentially use rules that they don't
have to explain or Justify to anybody because they were already passed for other purposes so how far
behind are we what needs to happen to be ahead of new innovation in the crypto space in America
oh look an adult in the room former SEC chair Harvey Pitt makes corrupt regulator
Gary Gensler look like a clown Gary Gensler is trying to slow crypto down to allow the
banking incumbents to take control he's not trying to protect retail investors
so how far behind are we in regulating crypto and What needs to take place in order for us
to finally kind of be ahead of any type of new innovation that comes within the space
I think what's required is a comprehensive set of rules of the road um it's no use in telling people
you have to follow the law if they don't know what the law is most people will try and follow the law
but they need to know what it is and so doing this on a piecemeal basis Case by case with enforcement
actions doesn't really get us to where we need to be which is a comprehensive regulatory scheme
so what exactly should the SEC be figuring out when it comes to crypto see what I like is that
this former SEC chair Harvey Pitt makes it sound so simple makes it sound so easy and it could be
Harvey what would be some of the aspects to that comprehensive plan well first I think you have
to designate someone to be in charge of today's hearings uh some folks are suggesting the SEC do
the job and that may make great sense but whoever does it has to sit down and come up with rules of
the road that explain everything from how you offer interests in these marketplaces how you
protect investors how you verify assets and make sure that people are not being scammed when they
are scammed obviously you have to throw the book at them but you need a book first and that's
what's missing right now we're gonna have to fight for fair cryptocurrency regulations we're going to
have to get loud subscribe to the channel join the altcoin daily team we keep you updated on a
daily basis and perhaps the biggest takeaway for me is this it's a big Club and you ain't in it
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