There is a US presidential election coming – the dumpster fire that is US politics rages on!
Crypto winning the 2024 presidential election in the USA could take a few forms. The (Trump = Good / Harris = Bad) equation for cryptos is true at one level. At another level it’s hard to see a way that cryptos will lose at all if price is the metric used to assess the win.
The USA is on a collision course with massive inflation – and cryptos win one way or the other. With two humans of questionable morals facing off in the 2024 US presidential election – cryptos are in an enviable situation.
Trust Trump?
Trump was not especially hot on cryptos when he was president. Not that he did much to impact the markets. No laws were passed, and he didn’t issue any Executive Orders (EOs) that worked for or against cryptos.
While Trump didn’t do much in terms of crypto legislation, he did talk cryptos down – and the USD up. As he works the campaign trail this time, he is talking a very different game. Trump hit the Bitcoin 2024 conference with a passion for cryptos in the USA.
Trump made bold claims – and told the audience that he would make the USA the most competitive crypto nation in the world. Without a doubt – Trump was playing to the crowd. What will actually happen if Trump is able to survive long enough to win the presidency is anyone’s guess.
The good news?
The Trump campaign accepts Bitcoin donations this time around. So if you want to send a billionaire even more money – now you can do it with Bitcoin.
The Empty Smile
Kamala Harris has been in power for the last four years. Joe Biden was senile from day one – so if anyone in the Biden/Harris team had any power – it was Kamala. We all know how much flack cryptos took under the “Biden Presidency” (henceforth called “The Sham”).
Whoever is in control brought in Gensler at the SEC – and cryptos have been under pressure for years. It’s at the point now where NFTs are being treated as securities. Oh the insanity!
The Sham backed big government policies and persecuted cryptos in the USA (and globally when possible). It’s inconceivable that a Harris Presidency will treat cryptos any differently.
In fact, Harris has already brought up the idea of price controls to limit food prices – which means a massive black market and shortages at the legal grocery stores. Whoever is in control hates decentralization and free markets.
Cryptos allow people to circumvent the official monetary system – which is bad for big government. Unfortunately for Harris, cryptos are popular, so she is trying to look “pro-crypto” despite a horrific record of smashing cryptos whenever possible.
Here is the hilarious Tim Dillon on what Harris really is:
If you don’t have 10 minutes for Tim – the short take is that Kamala is a totally empty person devoid of any positions or morals. The perfect puppet politician in an oligarchy.
Harris is an empty suit that does what she is told by whoever really has power. The people behind The Sham clearly don’t like cryptos – so if Harris is installed (don’t fool yourself – Biden was installed too) expect more anti-crypto policy in the USA.
Spending Matters for Crypto
The USA is in bad shape financially. People don’t get a vote on fiscal policy – which may be why interest payments on US government debt just shot past $1 trillion for the first time ever. Take a minute to think about it – interest payments on US debt are over $1 trillion per year.
Let it sink in.
Once this kind of debt exists, it is unlikely to be retired. There are only two ways do deal with this amount of debt – inflation or default. Servicing an ever increasing debt load isn’t possible without huge economic growth – which isn’t going to happen anytime soon in the USA.
As more USD hits the streets – inflation will pick up (SORRY). Whoever wins the 2024 presidential election in the USA won’t be able to cut spending. The new president will have to deal with inflation, and a debt load that keeps making new records.
A Civil Question
Donald Trump is in an interesting position. Butler, PA was supposed to be Dealey Plaza 2.0. Another lone gunman. Another national tragedy. This time the mark’s head was supposed to explode like a cantaloupe on national television. What a country!
It didn’t work. And we got this iconic photo.
Photo credit to foxnews.com
One could be forgiven for thinking the shooting was staged based on the aftermath. Trump comes away looking like an American hero. Without a body the JFK playbook is useless. Tragedy turns into heroism.
Now a large number of people think that “the hand of god” intervened – and Trump is the chosen one. This is an issue. You may have heard of the Bible Belt in the USA.
While Christians aren’t represented in the national media sphere – there are tens of millions of them – and they have both assault rifles and loads of ammo.
Multicultural too!
We are talking about a substantial body politic in the USA. These people aren’t playing games. They think they are going to heaven – so good luck intimidating them with threats of death.
Whether or not the media wants to acknowledge the reality of the situation – a dead Trump could end the Union. With a literal army of god leading an uprising across the middle of the USA – all bets are off.
No Union – no USD. At least not a USD that anyone would want to use for global trade. Which is the only thing keeping the USD alive at this point (that and the debt cycle).
What About Access?
If you aren’t picking up on the theme – cryptos will do well going forward – regardless of who gets into office in the USA later this year. That said – there are a few ideas related to access worth considering.
Power cuts would be an issue for crypto users. Cryptos aren’t amazing without power – especially as a day-to-day payment technology. If there were issues with the power grid in the USA, crypto users may suffer. BTC at $1 million doesn’t mean much if there is no internet to access the blockchain.
Then there is Harris and her controllers’ views on decentralization. China was able to stamp out domestic crypto use – so it could happen in the USA as well. For anyone in the USA – this kind of policy would be devastating.
In terms of USD prices – cryptos are well placed to win the US presidential election. No one can cut government spending, or address systemic weakness in the Western financial system.
The road higher will be rough – but it ends at much higher levels.
The post Op-Ed: Crypto’s Win-Win Scenario in the 2024 US Presidential Election appeared first on Blockonomi.
