Crypto legislation was passed this week, with the GENIUS Act getting Senate approval, and the CLARITY Act moving out of House subcommittees. What this means is their passage is now inevitable. This will set the stage for another bitcoin bull run, followed by a crypto industry bailout when things inevitably go south. That bailout language is in the Senate-approved GENIUS Act.
Also, Trump will be allowed to profit on stablecoins without restriction. The crypto industry spent an estimated $130 million buying lawmakers to get their legislation passed. Opposition was tepid at best in both Houses of Congress, as few politicians wanted to take on the crypto PACs, which threatened to throw money against opponents during the next election cycle. It was politics as usual in Washington.
Right now, finance capital is salivating over the potential profits it can make issuing their own crypto, backed by US treasuries & the dollar, all now fully guaranteed by the US taxpayers in event of failure.
What we have under the Trump administration is the wholesale pardoning & rehabilitating of the crypto industry. Crypto criminals have been absolved, while Trump deploys the national guard & marines against the population protesting ICE Gestapo raids. The 1st, 4th, 5th & 6th amendment to the Constitution have been rendered invalid, as president Trump’s long-planned coup attempt to establish a police state dictatorship now enters its critical phase.
Democrats are doing nothing to stop this, in fact they are aiding & abetting Trump. Millions of Americans are facing higher prices due to Trump’s tariff war, which affects working class people disproportionately. This has thrown tens of thousands of people out of work, on top of the millions who are struggling to find a decent job already.
Every political action from Washington favors the wealthy, as Trump attempts to divide the population between US citizens & immigrants using ICE, DHS, etc, as a fascist spearhead. No culture, art, or any form of protest is to be tolerated by the fascist Trump regime, while Democrats preach “law & order.” This class inequality has become intolerable to the vast majority of the population, and the only serious answer is an international general strike. The violence in Israel/Gaza, Ukraine/Russia, and the Middle East & beyond is simply the foreign policy expression of Trump’s fascist agenda. A war on China would be the culmination of this madness.
Workers need to protect themselves, since the police & military are being brought in to attack them. Organize workers, students & neighborhoods into safety committees to resist ICE abductions & police state violence. The wealth of society is created by the workers, not the billionaires. An organized working class is the international power that must be harnessed to stop fascism.
I see this as my final article on crypto, as there is nothing more for me to say on the subject. It’s now time for organizing & action. Before Trump re-took office, I began explaining the importance of crypto to the incoming Trump-Musk administration. Elon Musk is a crypto whale and probably the largest holder of bitcoin in the world. I estimate he holds 40-75% of all the available bitcoin. No one in the fake media will ask him these questions, and he’s not giving out any good answers– that’s for sure. History will have the final say.
The much hyped Trump-Musk break-up has since been reconciled. The reason for this is these two crypto fascists need each other. They can no longer exist independently. Certainly neither will jump to the other side of the revolutionary barricade in this war. Trump needs Elon Musk’s crypto expertise & influence, while Musk needs Trump to not crush him with his power of the state.
Trump-Musk crypto fascism is the transitional form of government in America right now. It’s an attempt to establish a police state dictatorship under Trump. The American people are resisting en masse, and that will only continue to grow. The American people have been put into a political slumber for a long time, especially those who have supported the Democratic Party. Those on the left, who trusted the Democrats, now find themselves without a political voice and are searching in the direction of socialism. The Socialist Equality Party (SEP), and their political organ the World Socialist Web Site (WSWS) is the only political organization that represents the true left. All other variants, DSA, Green Party, etc, orbit the Democrats.
Contact the SEP/WSWS to join the war against fascism, which includes defeating Vichy cohorts known in America as the Democratic Party. Only class struggle can stop fascism. United as an unbreakable international force, the workers of the world can defeat fascism & free mankind through a socialist revolution. The Trotskyists are the true socialists, that’s why you never hear Leon Trotsky (pic above) mentioned in bourgeois politics & the mass media. Trotsky is hated by the Stalinists & the bourgeoisie because of his internationalism.
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