Elon Musk Suggests Getting Rid Of All Regulations In Midnight Call
Elon Musk Suggests Getting Rid Of All Regulations In Midnight Call
"If it's not possible now, it'll never be possible," Musk said of his proposal to simply ignore all federal regulation as a baseline.
He's just going to get people killed. But that's ok he doesn't give a shit anyways, so it's moot. What are a few thousand dead peasants when we could make big stock number go up?
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I feel like I'm a crazy person, but I'm starting to believe the conspiracy of tech billionaires trying to dismantle the government to create network states. I'm almost certain they will gut the SEC eventually as well, so they can deregulate cryptocurrency. This was a summary I've recently read: Day One of Venture Capital Takeover.
Everyone should google Network States and the cities these VC billionaires are trying to create. Stuff like Próspera, Pronomos Capital, Praxis Nation, Bitcoin City in El Salvador, Afropolitan in Africa etc. etc. The same website has long page on it: The Status of the Network State. They are essentially creating sovereign states or cities that aren't beholden to any local government laws and use their own deregulated cryptocurrencies, so that they can control all the rules and power within.
I have no idea how trustworthy the site I linked is, but I can't see what they would gain from lying about it
For a fee and a background check, one can become a citizen of Mr. Lee's Greater Hong Kong, Inc., which operates as a sovereign entity within the various territories around the globe in which it has franchises.
Bitcoin City in El Salvador will never happen now, because they no longer have it as legal tender.
That's hopeful to hear, but just reading the article, two things stand out:
The reform eliminated the word “currency” when referring to bitcoin, but says it is “legal tender.” Despite the lack of clarity, it lifts, as required by the IMF, the obligation to accept it in transactions or debt payments, a key condition for it to be “legal tender,” according to economic analysts. With the change, “if someone owes you money and wants to pay you in bitcoin, you can refuse to be paid in bitcoin, but you cannot refuse if it’s legal tender,” economist Carlos Acevedo explained.
The government, she assured, will continue buying bitcoin and having reserves in this cryptocurrency. According to the National Bitcoin Office, El Salvador has 6,050 bitcoins worth $634.8 million. “President Bukele continues buying bitcoin, we have a Bitcoin Office, we have the Bitcoin Law, bitcoin can be used in El Salvador. It hasn’t been an easy road,” Mayorga summarized.
They are just removing it as "legal tender" to meet the conditions for an IMF loan and will continue investing in bitcoin.