Bitcoin is a modern day Jesus story. Divined by Libertarian ideologists post-2008 crash, it was a murky conception in online forums where its creator shared his vision with computer programmers. From this starting point, over an indefinite period of years, bitcoin became an online presence. The first bitcoin transaction anecdote (it’s all anecdotal in crypto) I read about was a few bitcoins being used to pay for a pizza delivery around 2011 or so. Is that story true, who knows? But the point was to establish a comparative market value for bitcoin, and from there it could be pushed up by Kool-Aid drinkers on social media. That’s how crypto started.
It feels very similar from what I’ve read, to the way Paul preached the gospel of Jesus in the first-century CE. At first only a few believed such amazing tales, and early Christians were persecuted as heretics by the Romans, but eventually Paul’s apostles founded the Catholic Church becoming the most powerful institution in human existence through the Middle Ages, only yielding somewhat during the Enlightenment and the rise of capitalism out of medieval guild, trade & manufacture.
Eric Trump in Dubai today: “If banks don’t watch what’s coming, they’ll be extinct in 10 years [!!]… The modern financial system is broken, it’s slow, it’s expensive,” lauding decentralized finance (crypto) as a way to bypass the supposed ‘inefficiencies’ & ‘lack of privacy’ with traditional banks.
Crypto is the ‘alternative’ to the US dollar that the Trump-Musk administration is planning. A ‘bitcoin reserve’ is completely hare-brained, and entirely for the self-enrichment of these crypto-fascists who are moving forward on this at warp speed as red flags pop-up everywhere.
Gold is the ‘safe haven’ for traditional finance, while bitcoin/crypto is where fascist billionaire capital is now pouring into, and it’s a life-or-death struggle between these two camps of late-stage capitalism. Trump-Musk are insisting on crypto as viable money to be used as a mechanism to achieve police state fascism, and as long as bitcoin is price-surging the de-fi crypto-fascist camp has juice.
I have been routinely Googling “crypto” since the Trump summit in early March. At first, I turned-up only the usual-type industry stories on Cointelegraph, Coindesk, etc, with little connecting to Trump. But in the past three weeks (& since the Trump tariffs were announced), I’ve seen an explosion in Trump-connected crypto stories from heavy-weight financial publications– Barron’s, Bloomberg, WSJ, etc. The NYT just did another (not very revealing) in-depth piece on Trump-crypto, and it had over 1,100 comments as of this publication. Crypto is the unreported story people are most-interested in knowing more about, because it has so much of Trump’s attention and is being kept so secret. This is why bitcoin/crypto deserves more investigation & serious analysis.
Crypto Kool-Aid drinkers consider bitcoin to be “digital gold.” With Trump now sipping the crypto Kool-Aid, bitcoin compares to real gold in this economic struggle among the bourgeoisie– traditional finance vs de-fi crypto-fascism. The most frequent comment I see (& infer) from readers is how difficult it is to understand crypto. I’ve done the best I can to explain crypto in basic terms without getting too bogged down in details or leading into rabbit-holes which the industry tries to do to investigators.
To simplify, bitcoin rules crypto, so only follow that price– which is all-important in crypto. The rest, from etherium to all the stablecoins, memecoins, etc, are second-rate & third-rate crypto, as they all follow in the wake of bitcoin. Trump crypto is ‘third or fourth rate’ value by industry standards. Most crypto isn’t “mined” as tokens are usually made up with computer code and dumped onto a blockchain to prove legitimacy. If only Karl Marx had known how easy it is to make money, he wouldn’t have needed to write Capital (1867).
With bitcoin being the ‘gold standard’ in crypto, everyone in the industry creates their own tokens, which they pump & dump turning them into bitcoin whenever possible, which they can always cash out for dollars. Crypto is always about pushing up bitcoin, which is the only crypto that is coveted. Manufactured pseudo-events such as bitcoin halving, token unlocks, etc, are nothing more than money flowing to the person at the top of that crypto pyramid. Understand that Kool-Aid drinkers who own bitcoin are all on the Trump train.
Real Marxists have published valuable essays critical of Frankfurt school post-modernism. The central tenet of this fraudulent philosophical system is that there is no objectivity, everything is subjective in the “mind’s eye,” etc. The ideological implications of post-modernism are now stretched to their most extreme limits when de-fi crypto fascists claim bitcoin to be “digital gold.” Gold, perhaps the most ancient & still-valuable commodity extracted from human labor power is now compared to a Ponzi scheme built on super-computers solving complex mathematical puzzles to “mine” bitcoin. Bitcoin/crypto under Trump-Musk is post-modernist thought applied to capitalist political-economy.
As far as who will be the next Fed chairperson in May 2026, since Trump gets to pick, the key question will be: What is their stance on crypto? Reuters reported today the Fed has already signaled a one point rate decrease by year’s end, which is crypto-friendly Fed policy that keeps Trump happy. Recall that Trump appointed Jerome Powell in February 2018. So what has fundamentally changed since then to cause such White House animosity? Answer: Trump’s stance on crypto.
What this means as far as White House economic policy goes is the strength of the US dollar is still the most important macro-economic factor for Trump, with the bond & stock markets secondary. Trump has a very poor understanding of all this economic inter-relatedness, which means his ‘crypto vision’ is analogous to a child playing with matches. Note that bitcoin is always denoted in US dollars, and therefore is intimately connected to it in the mind’s eye of all crypto Kool-Aid drinkers. The US dollar can take a small hit in the process of Trump building his crypto empire through a policy of legislative deregulation & industry manipulation, but ultimately he needs the US dollar to be stable to convert his crypto gains into cash. That’s crypto-fascist economic policy.
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