Cryptocurrencies are being touted as the way to be free of governmental tyranny and control over one’s assets and finances.
The Fed can’t keep “printing money” to make our current dollars worth less in the future, they say.
And that may well be true, in part.
However, the one thing to remember about the mighty U.S. Dollar is that it’s backed by the “full faith and credit of the U.S. Government.”
And that means you, the taxpayer. As long as the government has the power to dig into your wallet every paycheck, there will be money in Uncle Sam’s bank account to pay its debts (even if we’re overleveraged as a nation).
Here’s comedian Bill Maher’s take on #Bitcoin. He doesn’t buy it (literally) and editorialized his belief last Friday. WARNING: It’s R-rated.
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