If we needed any more proof that Biden is Obama 2.0, the return of Janet Yellen should convince any and all doubters that the Blue-majority government will reverse all changes made during the past four years and return the government to a regime of dollar worship and unprecedented spending.

And if you were hoping that Yellen as Treasury Secretary would be any different from Yellen as Fed Chair, don’t count on it. She didn’t believe that inflation was a problem during the Obama years, and she doesn’t see it as a problem today – even during a pandemic, when consumers need to stretch each and every dollar.

As the U.S. Treasury Secretary, Yellen can be counted on to defend the welfare state and the dollar as the king of all currencies. Among her chief rivals will be successful entrepreneurs and nonconformist defenders of private enterprise, like Elon Musk.

Musk has, of course, been a champion of electric vehicles and non-government space flight for years. And now he’s taking up the cause of cryptocurrency, famously buying $1.5 billion worth of Bitcoin and tweeting supportive comments on almost a daily basis lately.

He’s even gone so far as to say that Tesla will start accepting Bitcoin as payment for the company’s products. When that happens, Tesla will make history as the first major automaker to accept Bitcoin payments.

Courtesy: @elonmusk

Musk even went so far as to change his Twitter bio to “#bitcoin” and the Bitcoin symbol. He’s also expressed enthusiasm for Dogecoin, another popular cryptocurrency which has gained traction in early 2021.

Another proponent is billionaire Mark Cuban, who recently compared the blockchain to the early days of the Internet. “What we’re seeing right now with this communal effort and the foundation of blockchain-type applications that people stuck at home can use to try to make money… just changed the game 180 degrees,” he said.

93% Of Investors Generate Annual Returns, Which Barely Beat Inflation.

Wealth Education and Investment Principles Are Hidden From Public Database On Purpose!

Build The Knowledge Base To Set Yourself Up For A Wealthy Retirement and Leverage The Relationships We Are Forming With Proven Small-Cap Management Teams To Hit Grand-Slams!

    If you don’t understand the blockchain, Cuban added, “it’s going to smack you down and make you bleed.” So, it’s evident that there are well-known and respected supporters of cryptocurrency and the blockchain in the private sector.

    Meanwhile, back at the government, Yellen is busy criticizing cryptocurrency and the blockchain, while also making it evident that she doesn’t fully understand it. “I don’t think that bitcoin… is widely used as a transaction mechanism,” she recently claimed.

    Courtesy: Coin Telegraph

    As you can see in the chart shown above, the number of Bitcoin transactions has increased exponentially over the years. So, I’m not sure how Yellen came up with the idea that Bitcoin isn’t “widely used as a transaction mechanism,” but the data disproves that claim.

    Yellen then continued her anti-crypto rant, saying, “To the extent it is used I fear it’s often for illicit finance,” and, “It’s an extremely inefficient way of conducting transactions.”

    Does Janet Yellen believe that fiat money is never used for “illicit finance”? Come on, Janet – the “Bitcoin is only used by criminals” argument is so 2017. And as far as efficiency of transactions, many folks find it much easier to make cross-border payments with cryptocurrency than fiat currency.

    Yellen also invoked the old volatility argument: “It is a highly speculative asset and you know I think people should be aware it can be extremely volatile and I do worry about potential losses that investors can suffer.”

    So all of a sudden, Janet Yellen cares deeply about our trading accounts. I don’t know about you, but I’m having a hard time trusting the government when it comes to the safety of my money.

    Perhaps Yellen and some other anti-Bitcoin activists are feeling FOMO because they missed out on the huge gains – and they’ll keep missing out while blockchain adoption, and cryptocurrency prices, continue to rise.

    Governments Have Amassed ungodly Debt Piles and Have Promised Retirees Unreasonable Amounts of Entitlements, Not In Line with Income Tax Collections. The House of Cards Is Set To Be Worse than 2008! Rising Interest Rates Can Topple The Fiat Monetary Structure, Leaving Investors with Less Than Half of Their Equity Intact!

    Protect Yourself Now, By Building A Fully-Hedged Financial Fortress!

      Legal Notice: No matter how good an investment sounds, and no mater who is selling it, make sure you’re dealing with a registered investment professional. Use the free, simple search at investor.gov

      We are not brokers, investment or financial advisers, and you should not rely on the information herein as investment advice. We are a marketing company. If you are seeking personal investment advice, please contact a qualified and registered broker, investment adviser or financial adviser. You should not make any investment decisions based on our communications. Our stock profiles are intended to highlight certain companies for YOUR further investigation; they are NOT recommendations. The securities issued by the companies we profile should be considered high risk and, if you do invest, you may lose your entire investment. Please do your own research before investing, including reading the companies’ SEC filings, press releases, and risk disclosures. Information contained in this profile was provided by the company, extracted from SEC filings, company websites, and other publicly available sources. We believe the sources and information are accurate and reliable but we cannot guarantee it.

      Please read our full disclaimer at CrushTheStreet.com/disclaimer