They point to money laundering and recent high-profile ransomware attack that shut down Colonial Pipeline as proof that cryptocurrency needs to be banned to keep us safe from criminals.
Criminality and Cryptocurrency
I take serious issue with both points. First off, cryptocurrency is not the preferred method of criminals for laundering money. A 2020 report from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) stated that fiat currency is still the preferred method for money launderers and that they use mules, cash businesses, and drugs to run their operations. So, all this talk about criminals using the shadowy world of cryptocurrency to run and finance their operations is utter bunk.
Second, I take issue with using the Colonial Pipeline attack as an excuse to get rid of cryptocurrency. For those of you who do not know, the Colonial Pipeline is the pipeline by which the American southeast gets its gasoline, and it was shut down by hackers who ransomed it for $4.4 million worth of Bitcoin.
Banning is NOT the Solution
Banning anything because a few people out of a billion did something illegal with it is unfair and unjust. Anyone who was educated in the American school system should recognize this approach. Little Johnny hurts Little Freddy with a baseball, and instead of just punishing Little Johnny and Freddy, some smug schoolmarm punishes the entire student body and does nothing to Little Johnny.
That’s how America works. Sam Francis, the late conservative commentator, called this anarcho-tyranny. He defined anarcho-tyranny as the government not having the ability or willingness to go after criminals because it’s too hard; instead, they turn the screws on the law abiding. Take, for example, the recent Kyle Rittenhouse trial.
The police in Kenosha abandoned their writ to protect the city, so someone had to stop the anarchists from destroying everything in sight, which is why Mr. Rittenhouse, and his pals went there. When things there went to hell and Rittenhouse had to defend himself, rather than punishing the actual troublemakers, the corrupt state attorney went after Kyle Rittenhouse, whose “crime” was defending himself against Anthony Huber, a skateboard punk with a history of domestic abuse, and Joseph Rosenbaum, a convicted child molester.
When you hear “experts” talking about the need to ban or regulate cryptocurrency to prevent crime, notice they’re not talking about going after the people doing the actual hacking and money laundering. No, no, no. That’s not a priority for the money-no-object FBI.
The real danger in America is rowdy moms at school board meetings who need to be raided with SWAT teams like what happened with Sherrona Bishop in Colorado. Read up on her and remember her name. Sheronna Bishop, mother of four, whose crime was speaking out against critical race theory, and using her influence to flip nine school boards from Democrat to Republican. If they can treat her like this, they can treat you like this.
Political Games Ruining Ordinary People’s Lives
If America’s government really wants to do something about criminals using cryptocurrency, then they need to go after the criminals doing the hacking and money laundering with the same zeal they went after poor Sheronna Bishop and her 18-year-old daughter, whom one of the SWAT team arses dragged down the stairs by her hoodie.
But that’s not going to happen. Instead, they’ll ban cryptocurrency and throw readers like you in prison the way they’re currently trying to do with Ghislaine Maxwell, Julian Assange, and the January 6th protesters, and like they did with Lord Conrad Black. None of them got or will get a fair trial because America is where justice goes to die, so do not expect to fare any better than them. Meanwhile, no one in the FBI, DEA, or any other bureaucracy in our corrupt criminal justice or national security system will do anything to bring real cybercriminals like the Lazarus Group to justice. They’ll be free to hack away while you rot in solitary confinement for paying to watch a cat video with Bitcoin.
As I have said before and will say again, the United States is rotten to the core, and cryptocurrency shines the light on the rot.