History is written by whites. And to be clear on definitions, I’m referring to western Europeans. The last several hundred years is the story of whites: white conquest, white science, white education, and yes, white money.
Is it any wonder why the U.S. injects itself militarily in various Middle Eastern conflicts? We don’t care about providing freedom to an oppressed people. If that were the case, we’d have turned North Korea into a parking lot. No, the reason we spill blood is to impose the dollar hegemony.
Iraq’s former dictator Saddam Hussein would be perfectly fine today if he didn’t attempt to subvert the dollar by pegging oil transactions into non-U.S. currencies. The same could be said about Libya’s Muammar Gaddafi. Keep the bankers happy, and you’ll live to tell the tale.
Which brings us to bitcoin and cryptocurrencies. The official reason why government bodies hate the blockchain economy is that it’s unregulated (ie. they can’t tax bitcoin). On surface level, this makes perfect sense – bankers can’t stand assets being transacted back and forth without benefitting from (copious) tax revenues.
However, the real reason why bankers hate bitcoin and cryptocurrencies is that they symbolize the ultimate end of white European rule. Please don’t mistake what I’m saying: I don’t hate white people, nor am I a “reverse racist,” whatever the hell that means. My point is that our international markets and currencies are white-centric.
With bitcoin, the racial and nationalistic association with money evaporates. Cryptocurrencies don’t fly national colors, nor are they centralized within specific borders. A bitcoin in America is the same as a bitcoin in Andorra.
Not only that, without these arbitrary associations, the need for armed conflicts significantly wanes. Who cares if oil is denominated in bitcoin or other cryptocurrencies? As decentralized assets, the native impetus for centralized hegemony is nonexistent.
What also becomes extinguished is the bankers’ ability to make easy money. Without the ability to manipulate centralized assets, they have to sit on the sidelines while the blockchain economy moves full steam ahead. Moreover, the people who are engaging this new economy are decidedly Asian.
According to a 2016 survey of cryptocurrency users, 38% were from the Asia-Pacific region. In a quite distant second place was Europe at 27%. The U.S. was very much in the rear-view mirror at 17%. With bitcoin becoming even more popular, Asia has undoubtedly garnered more market share.
Thus, we have a double-edged problem for bankers. First, they lose the dollar hegemony. Second, the power structure, which was almost exclusively white, is rapidly turning towards the Far East.