BitCoin – Criminals – Authorities

QUESTION: Marty,

In light of the recent ransomware attacks where individuals/companies are being held hostage until they pay the criminals in bitcoins, why wouldn’t governments around the globe step in and just shut down Bitcoin.   It amazes me.  Bitcoin allows people to sell everything from drugs to trade secrets on Wall Street  and they do this without having to even pay taxes on it!    What’s going on behind the scene that allows this operation to continue?

MM

ANSWER: My guess is they are doing the same as tax straddles during the 70s. They knew what was going on and let it run and then fined everybody with interest and penalties. Incidents like this do not bode well for BitCoin and authorities going forward. Way too easy for a politicians to make a big issue out of it. They are already coining the phrase “cash is for criminals” so it would be easy to swap out a word here and there.

Latest Posts

Squad Members Call for Netanyahu’s Arrest

The progressive “squad” members have been fueling the flames of unrest over the Israel-Palestine conflict, naturally supporting Palestine. Squad member Rep. Tlaib (D-Mich) called for the arrest of Israeli Prime [...]
Read more

Rule of Nine, Armageddon & Megiddo

QUESTION: Mr. Armstrong, I do not recall which WEC event it was back in the nineties, but you projected Israel’s fate and the Rule of Nine, which showed this was [...]
Read more

Market Talk – May 9, 2024

ASIA:   The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 128.39 points or -0.34% to 38,073.98 Shanghai increased 25.84 points or 0.83% to 3,154.32 Hang [...]
Read more