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Today's Upside Down Regulatory Environment

Psalm Chapter 119 verse 60 states, "All your words are true; all your righteous laws are eternal."


As a Christian, the core foundation of my ideology is predicated on the life, death, and resurrection of Jesus Christ. This is why I believe that the words above, all your righteous laws are eternal is true.


My opinion is that the U.S. Constitution is as close as it gets to this Bible verse. Clearly, the Constitution is not perfectly righteous or eternal, but it is a living document that was created to stand the test of time. In today's regulatory environment, it seems that many are looking to reject this, which is having atypical implications versus past precedent.


For today's crazy-train situation, I'm going to focus on Cryptocurrencies and Coinbase Global (COIN). I think the best way to illustrate this topic is to take a look at history. I'm thinking of a similar time where Big Corporations were threatening to deter the broader growth potential and distribution of wealth within the U.S., namely the greater good.


If we take a walk back to the Industrial Revolution, we can think of three names that transcend the terms Big Corporation or monopoly - John D. Rockefeller, Andrew Carnegie and J.P. Morgan. These three men commanded extreme wealth, well beyond any billionaire of today, and essentially controlled the entire U.S. These three men controlled the country and in some ways, completely determined the outcome of U.S. presidents to assert the status quo in order to benefit their competitive business ambitions and wealth creation.


But to the credit of the U.S. government, including such presidents as Theodore Roosevelt, Woodrow Wilson, and Franklin D. Roosevelt, a stand against the monopolistic priorities of America's extremely wealthy was taken. This focus and stance against ultimate greed, was a key enabler of breaking down anti-competitive structures to allow for a more rapid pace of innovation and corresponding middle-class growth in both standard of living and wealth. It led to most Americans being able to own a home, buy a car, and have a piece of the own version of the American Dream.


Fast-forward to today, and the U.S. is facing a similar issue with Big Tech, Big Pharma, Big Banks and other Big Corporation areas that similarly have a need for government regulation to break them apart for the greater good of the country. However, today's Big Corporation situations find themselves with a very very dear friend in Big Government and Globalism that caters to keeping the status quo, and ironically regressing the nation backwards, with the ultimate risk being the U.S. becoming a socialist third-world equivalent country.


Considering the current infrastructure bill and political posturing, and much of the debate topics are highly contrary to historical precedent. In fact, the key gap is the lack of today's political will to focus on two key principles - freedom and the Constitution. The Constitution and the freedoms it harbors are the only driving force that will continue to allow the U.S. to be an economic leader and generator of the broadest wealth and highest standard for quality of life within and outside the nation.


The real irony is that today, regulators are more interested in protecting Big Tech, Big Banks, Big Pharma, only espousing sheer threats of doing what real presidential leaders in the past (whose party line was insignificant) were committed to undertaking.


We need look no further than Cryptocurrencies to see how villainous our Big Government and legacy Big Corporations have become. For the latter, it's simply a form of greed begetting greed which is nothing new and actually is represented by historic precedent as mentioned earlier. But the main difference is the shifting focus of the U.S. government towards Globalism, which naturally has weakened economic prosperity and put the country on a path towards socialism. As such, we see an extension of this with respect to the approach to regulatory discussion on Cryptocurrencies.


Instead of focusing on real issues like the fact that Big Tech is an extension of repressing free speech, regulators are more concerned with innovative companies attempting to create platforms to mature Cryptocurrencies. The underlying drivers for this are clear. Big Government today, is incapable of doing the right thing. This isn't a product of corporations becoming too powerful, but more a development of the value in corporations becoming an extension of the government. In essence, the ultimate greed is being driven by the U.S. government rather than corporations.


For Cryptocurrencies, the key logical issue is the maturity of the industry. Cryptocurrencies are highly volatile and still at a very early stage of development. Yet the government is more focused on attempting to pick winners and losers in this nascent stage. This is very troubling as it confirms the fact that government has a vested interested in defending legacy industry leaders that lack innovation.


There still are some checks and balances as was evidenced by the Senate's modifications to the infrastructure bill. But the fact that the initial drafting of the bill and push from a broad-based seciton of the government continues to attempt to turn the freedoms and Constitution of the U.S. upside down, continues to put pressure on society.


Rather than providing services to the people and being a true public servant, Big Government has become a monster full of greed placing its tentacles throughout everywhere it can to control and influence the future. There is nothing further from freedom, the Constitution and innovation than that - the greater good is strongly at risk in today's political climate.






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