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June 11, 2020 | China Seizes all Bitcoin Bank Accounts

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

Chinese police have frozen several thousand accounts of Bitcoin traders during an extensive crackdown on illicit activities, which includes transferring money out of the country as well as tax evasion. We must realize that the PRESUMPTION that we have free markets and that somehow a cryptocurrency is outside of the government fiat system is all the nice fluff used to sell them. But the closer we get to 2032, the government will NOT tolerate competition. Europe is already planning to eliminate all paper money. Do you really think they will allow people to have alternative accounts using cryptocurrencies when their objective is to force all money into the banking system with their Marxist agenda?

Any assumption that you have any rights whatsoever is wrong. You have nothing including property. It all belongs to the government in the depths of their mind. All they are looking for is the excuse to justify their actions. Politicians no longer represent the people. That is the first thing you need to understand.

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June 11th, 2020

Posted In: Armstrong Economics

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