Connect with us

A year into the pandemic: How Argentina’s economy struggled while its crypto ecosystem flourished

Let’s relive the events have that marked the Argentine crypto space since the beginning of the COVID-19 pandemic and hear the opinions of those in the industry that lived them from the inside.
The year 2020 will go down in history…

Published

on

Let's relive the events have that marked the Argentine crypto space since the beginning of the COVID-19 pandemic and hear the opinions of those in the industry that lived them from the inside.

The year 2020 will go down in history as the beginning of the COVID-19 pandemic and the way it affected the Argentine economy. But it is also true that Argentina has been dragging along economic problems for decades, with high fiscal pressure, devaluation of the national currency (the Argentine peso), restrictions on the purchase of foreign currency, etc. 

Beyond that, events have occurred that have to do with attempts to regulate the crypto ecosystem, in addition to those linked to private companies and the adoption of cryptocurrencies. The following is a summary of the events that marked the last year and the opinions of various people who lived it from inside the ecosystem.

First quarter of 2020

Second quarter of 2020

Third quarter of 2020

  • A Paxful survey finds that Argentines believe investing in cryptocurrency is the most effective way to save

Fourth quarter of 2020

Attempts at regulation

There have been two initiatives at the national level in Argentina and one at the provincial level (in the province of Misiones) that are related to attempts to regulate cryptocurrencies.

In the Chamber of Deputies, a bill from Everybody's Front was formally presented with the signature of 15 national deputies. This initiative, under file 6055-D-2020, has as its summary title: Integral Regulatory Framework Applicable to Civil and Commercial Transactions and Operations of Crypto Assets.

On the other hand, from the opposition, Argentine deputy Ignacio Torres of the Together for Change front also has in his hands a project on cryptocurrencies, but it has not yet been formally presented to Congress. This legislator, a representative of the district of Chubut, is holding a series of meetings and consultations on the subject with different sectors.

These projects have also been the focus of controversy and criticism from various sectors of the Argentine cryptosphere.

In addition, in the province of Misiones, Provincial Deputy Roque Gervasoni of the Front for the Renewal of Concord presented a project in the Chamber of Deputies. Registered under file D-55787/20, it is a bill that, in theory, also proposes to regulate the cryptocurrency ecosystem. The initiative has another peculiarity, which is that it provides for the creation of an exchange.

Rodolfo Andragnes, president of Bitcoin Argentina, said:

“A very relevant issue in November was the national law projects that emerged to regulate crypto assets, which were highly criticized by us.”

Pedro Rey Puma, OKEx community manager for Latin America, observed: “We must highlight the exposure of the two bills presented to the UIF and the Congress, although I think they need changes, and I adhere to the general dissatisfaction of the community.”

“I also believe that a positive aspect is the legitimization of cryptocurrencies by government officials, because if a favorable regulation is achieved, it will be a huge opportunity for the country to lead the innovation and the creation of services based on this technology. Otherwise, this activity will be taken to informality.”

Bitcoin’s price rose, and adoption grew

It was a very interesting year in terms of the price of Bitcoin (BTC), especially in its last few weeks. Bitcoin reached another historic high, something that hadn't happened since 2017. It shouldn't be forgotten either that it was a year where there was another halving, which many think was decisive for the price.

Andragnes said that in Argentina, during 2020, new projects appeared, while others were consolidated. "Not only have the exchanges seen exponential growth of users, multiplying by three or five times their volumes, but those companies that offered services such as digital certifications or developments on blockchain have also noticed growth," he highlighted.

Ivan Tello, co-founder of Decrypto, expressed that the most important thing about 2020 in the crypto ecosystem was adoption:

“COVID and quarantine taught us that everything is virtual. Shopping at the supermarket or mall is now virtual. Procedures and even birthdays were virtual, but also savings, investment and money are virtual.”

On the other hand, he estimated that before "the trap" and prohibition of buying dollars in Argentina, investors and traditional savers discovered the possibility of being able to continue buying "virtual dollars" in the form of the stablecoins, which in many cases are the door to the crypto world. "Then they discover all the solutions that this new world brings to them,” he remarked. “More and more people are losing their fear of the virtual, of the intangible.”

But he also highlighted "the Halving (reduction in emission) of Bitcoin," saying: "It happened in a year where all the central banks went out to issue and counterfeit their currency without any support, and it made evident the cracks in the system and how the perfect storm only favors Bitcoin to keep increasing its price.”

According to Gabriel Vago, CEO of ArgenBTC, 2020 was undoubtedly the best year for the crypto ecosystem in Argentina. “The different circumstances that occurred throughout the year — between, the exchange rate gap, the quarantine lockdown and the unstoppable rise in the price of Bitcoin since March — prepared a perfect scenario for hundreds of thousands of Argentines to join the crypto world,” he highlighted.

Emiliano Limia, public relations manager at Buenbit, said that the most important thing was the exponential growth of users. “The reasons behind this generalised growth are mainly related to the complex economic context the country is going through. Crypto assets gained ground as a form of savings in the context of the devaluation of the Argentine peso and restrictions on the purchase of foreign currency.”

In particular, he stated that the adoption of Dai became popular: “As it is a stablecoin, which has a price linked to the U.S. dollar, many Argentines turned to acquiring it. The reason is that in Argentina, there is a maximum quota of up to 200 dollars per month, and this is combined with interest rates in low-yielding Argentine pesos and a historical preference of Argentines for the dollar. So, for new users, DAI works as a good gateway to the ecosystem. In fact, MakerDAO, the organization that created this stablecoin, assures in its official blog that DAI has become the most popular crypto in Argentina by exchange volumes, even ahead of Bitcoin, due to concerns about hyperinflation."

On the other hand, he talked about the increase in Bitcoin's price. "It caught the attention of the press and of many people who had not yet entered the ecosystem, and who now notice that the asset is consolidating," he said.

For economist Nicolas Litvinoff, director of Estudinero, the most important events of 2020 had to do with two things: operations and access.

"On the side of fundamentals, easy access to the purchase of Bitcoin was the big news,” he said. “The access ramp benefited from the development and implementation of P2P operations but monitored and guaranteed by exchanges or multi-currency platforms. The proposals of Airtm, Uphold and now Binance — that an Argentinean can buy Bitcoin, Ethereum or other assets with a transfer in pesos and the other person can send the crypto — is a model of operation that facilitates the access to crypto assets. Peer-to-peer opens the door for millions of people to the world of crypto assets.”

He added: “From the point of view of prices, the consolidation of Bitcoin as a safeguard against inflation, and the possibility of accessing stablecoins linked to the dollar as a safeguard against inflation, is good news. Beyond the price increase, Bitcoin has shown that it is an excellent refuge of value, especially for countries with a high degree of financial repression or regulation, like ours.”

For Matías Part, chief operating officer of Crypto Rocket and CR Academia, there were a series of internal and external factors that helped to put cryptocurrencies on the map in a definitive way.

"When the previous government regulated the exchange rate trap in September 2019, there was a great uncertainty that was immediately solved by the ecosystem,” he said. “The local exchanges already had DAI listed and the (misnamed) Crypto Dollar emerged.”

“Then, with the change of government, the economic crisis deepened, making people want to support themselves as best they could by buying DAIs without restrictions and with Argentine pesos.”

Rey Puma observed: “I think one of the most important things is the increased adoption of Bitcoin, DAI and USDT because of the overall growth in digital payments due to the pandemic.”

“Many people opted for traditional mobile peso wallets and others started using crypto wallets or custodial apps from exchanges for the first time,” he added.

For Rey Puma, another important thing that happened is that the population was to a greater extent exposed to the fact that Bitcoin can be an alternative to the peso or the dollar to safeguard value, “since in just a couple of months Bitcoin went from being worth 1 million to 3 million pesos.”

This provoked a great growth in new users, and OKEX also noticed it. Rey Puma confirmed that Argentina became one of the countries with the most movement in Latin America.

For Marcos Zocaro, a tax consultant, “Despite the fact that these were not very fortunate events (or measures) for the direction of the Argentine economy, the growing exchange restrictions and the depreciation of the national currency were the trigger for an adoption of cryptocurrencies as we had not seen before.”

“The crypto ecosystem received new users and investors who were discovering the technology as they tried to find some way to dollarize their savings, bypassing (legally) existing restrictions,” he added. “And this boom also generated the emergence of new local crypto ventures and the arrival of important players (among which are the main exchanges worldwide).”

Bitcoin halving

In addition to highlighting many events globally, Abraham Cobos, “crypto catalyst” of Bitso, spoke of Bitcoin's halving: “On May 11, for the third time in its history, the reward for each mined block was halved. This went down from 12.5 to 6.25 Bitcoin for every block processed (every 10 minutes). When Bitcoin first appeared in 2009, its emission per block was 50 BTC, and then successively halved every 210,000 blocks for four years, resulting in 25 BTC in 2012 and 12.5 BTC in 2016.”

“The halving phenomenon reminds us that Bitcoin is an extremely scarce resource and that its supply is increasingly limited,” he said.

Decentralized finance

Decentralized finance is an international phenomenon, and Argentina has also seen momentum and different developments in this particular sector.

For Juan Manuel Domínguez, director of STO Managers, 2020 was as chaotic as it was interesting for the crypto ecosystem: “The acceleration in interest from people not directly related to the industry, ordinary people who had already heard about it at some point from a friend or family member, and are finally deciding to take the first step even at a higher rate than was the case in 2017.”

In this sense, he highlighted the further development of new applications with more user-friendly interfaces that has been taking place, partly as a result of the intense growth of DeFi platforms that emerged this year. “This plays a significant role in favoring the adoption by users who are just starting out in the industry,” he said.

Part stated: “After the first quarter came the boom of DeFi, with yields of between 5% and 8% per year, which ended up discouraging the FCI and fixed terms.”

On the other hand, he also highlighted the price of BTC surpassing a new all-time high:

“I think that we must also highlight the great work of the community and the exchanges that during this year understood that we must educate the population in a correct way and took care of giving webinars and organizing ATP events. Clearly, it is a year that is hinged in every way.”

A “Crypto Valley”

For Alan Boryszanski, chief financial officer of Lemon Cash, one of the most outstanding milestones in the ecosystem of Argentina was the creation of what he calls “the first Crypto Valley of LATAM” in San Martin de los Andes in the province of Neuquen. It “became a pioneer city that works as a technological testing ground for companies, startups, entrepreneurs, academics and organizations,” he explained.

“With more than 600 merchants that accept digital assets as a form of payment, Crypto Valley has a direct relationship with the Chamber of Commerce of the city and has the support of the local Ministry of Tourism,” he added. “In addition, it contributes to financial inclusion thanks to webinar cycles and research agreements with different universities in the country. The Crypto Valley condenses many changes that happened in 2020 as a consequence of the pandemic, the currency trap and the tax increases, which forced the massive adoption of cryptocurrencies as a value reserve.”

Read More

Continue Reading

Government

Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The…

Published

on

Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The U.S. Department of Veterans Affairs (VA) reviewed no data when deciding in 2023 to keep its COVID-19 vaccine mandate in place.

Doses of a COVID-19 vaccine in Washington in a file image. (Jacquelyn Martin/Pool/AFP via Getty Images)

VA Secretary Denis McDonough said on May 1, 2023, that the end of many other federal mandates “will not impact current policies at the Department of Veterans Affairs.”

He said the mandate was remaining for VA health care personnel “to ensure the safety of veterans and our colleagues.”

Mr. McDonough did not cite any studies or other data. A VA spokesperson declined to provide any data that was reviewed when deciding not to rescind the mandate. The Epoch Times submitted a Freedom of Information Act for “all documents outlining which data was relied upon when establishing the mandate when deciding to keep the mandate in place.”

The agency searched for such data and did not find any.

The VA does not even attempt to justify its policies with science, because it can’t,” Leslie Manookian, president and founder of the Health Freedom Defense Fund, told The Epoch Times.

“The VA just trusts that the process and cost of challenging its unfounded policies is so onerous, most people are dissuaded from even trying,” she added.

The VA’s mandate remains in place to this day.

The VA’s website claims that vaccines “help protect you from getting severe illness” and “offer good protection against most COVID-19 variants,” pointing in part to observational data from the U.S. Centers for Disease Control and Prevention (CDC) that estimate the vaccines provide poor protection against symptomatic infection and transient shielding against hospitalization.

There have also been increasing concerns among outside scientists about confirmed side effects like heart inflammation—the VA hid a safety signal it detected for the inflammation—and possible side effects such as tinnitus, which shift the benefit-risk calculus.

President Joe Biden imposed a slate of COVID-19 vaccine mandates in 2021. The VA was the first federal agency to implement a mandate.

President Biden rescinded the mandates in May 2023, citing a drop in COVID-19 cases and hospitalizations. His administration maintains the choice to require vaccines was the right one and saved lives.

“Our administration’s vaccination requirements helped ensure the safety of workers in critical workforces including those in the healthcare and education sectors, protecting themselves and the populations they serve, and strengthening their ability to provide services without disruptions to operations,” the White House said.

Some experts said requiring vaccination meant many younger people were forced to get a vaccine despite the risks potentially outweighing the benefits, leaving fewer doses for older adults.

By mandating the vaccines to younger people and those with natural immunity from having had COVID, older people in the U.S. and other countries did not have access to them, and many people might have died because of that,” Martin Kulldorff, a professor of medicine on leave from Harvard Medical School, told The Epoch Times previously.

The VA was one of just a handful of agencies to keep its mandate in place following the removal of many federal mandates.

“At this time, the vaccine requirement will remain in effect for VA health care personnel, including VA psychologists, pharmacists, social workers, nursing assistants, physical therapists, respiratory therapists, peer specialists, medical support assistants, engineers, housekeepers, and other clinical, administrative, and infrastructure support employees,” Mr. McDonough wrote to VA employees at the time.

This also includes VA volunteers and contractors. Effectively, this means that any Veterans Health Administration (VHA) employee, volunteer, or contractor who works in VHA facilities, visits VHA facilities, or provides direct care to those we serve will still be subject to the vaccine requirement at this time,” he said. “We continue to monitor and discuss this requirement, and we will provide more information about the vaccination requirements for VA health care employees soon. As always, we will process requests for vaccination exceptions in accordance with applicable laws, regulations, and policies.”

The version of the shots cleared in the fall of 2022, and available through the fall of 2023, did not have any clinical trial data supporting them.

A new version was approved in the fall of 2023 because there were indications that the shots not only offered temporary protection but also that the level of protection was lower than what was observed during earlier stages of the pandemic.

Ms. Manookian, whose group has challenged several of the federal mandates, said that the mandate “illustrates the dangers of the administrative state and how these federal agencies have become a law unto themselves.”

Tyler Durden Sat, 03/09/2024 - 22:10

Read More

Continue Reading

Government

Are Voters Recoiling Against Disorder?

Are Voters Recoiling Against Disorder?

Authored by Michael Barone via The Epoch Times (emphasis ours),

The headlines coming out of the Super…

Published

on

Are Voters Recoiling Against Disorder?

Authored by Michael Barone via The Epoch Times (emphasis ours),

The headlines coming out of the Super Tuesday primaries have got it right. Barring cataclysmic changes, Donald Trump and Joe Biden will be the Republican and Democratic nominees for president in 2024.

(Left) President Joe Biden delivers remarks on canceling student debt at Culver City Julian Dixon Library in Culver City, Calif., on Feb. 21, 2024. (Right) Republican presidential candidate and former U.S. President Donald Trump stands on stage during a campaign event at Big League Dreams Las Vegas in Las Vegas, Nev., on Jan. 27, 2024. (Mario Tama/Getty Images; David Becker/Getty Images)

With Nikki Haley’s withdrawal, there will be no more significantly contested primaries or caucuses—the earliest both parties’ races have been over since something like the current primary-dominated system was put in place in 1972.

The primary results have spotlighted some of both nominees’ weaknesses.

Donald Trump lost high-income, high-educated constituencies, including the entire metro area—aka the Swamp. Many but by no means all Haley votes there were cast by Biden Democrats. Mr. Trump can’t afford to lose too many of the others in target states like Pennsylvania and Michigan.

Majorities and large minorities of voters in overwhelmingly Latino counties in Texas’s Rio Grande Valley and some in Houston voted against Joe Biden, and even more against Senate nominee Rep. Colin Allred (D-Texas).

Returns from Hispanic precincts in New Hampshire and Massachusetts show the same thing. Mr. Biden can’t afford to lose too many Latino votes in target states like Arizona and Georgia.

When Mr. Trump rode down that escalator in 2015, commentators assumed he’d repel Latinos. Instead, Latino voters nationally, and especially the closest eyewitnesses of Biden’s open-border policy, have been trending heavily Republican.

High-income liberal Democrats may sport lawn signs proclaiming, “In this house, we believe ... no human is illegal.” The logical consequence of that belief is an open border. But modest-income folks in border counties know that flows of illegal immigrants result in disorder, disease, and crime.

There is plenty of impatience with increased disorder in election returns below the presidential level. Consider Los Angeles County, America’s largest county, with nearly 10 million people, more people than 40 of the 50 states. It voted 71 percent for Mr. Biden in 2020.

Current returns show county District Attorney George Gascon winning only 21 percent of the vote in the nonpartisan primary. He’ll apparently face Republican Nathan Hochman, a critic of his liberal policies, in November.

Gascon, elected after the May 2020 death of counterfeit-passing suspect George Floyd in Minneapolis, is one of many county prosecutors supported by billionaire George Soros. His policies include not charging juveniles as adults, not seeking higher penalties for gang membership or use of firearms, and bringing fewer misdemeanor cases.

The predictable result has been increased car thefts, burglaries, and personal robberies. Some 120 assistant district attorneys have left the office, and there’s a backlog of 10,000 unprosecuted cases.

More than a dozen other Soros-backed and similarly liberal prosecutors have faced strong opposition or have left office.

St. Louis prosecutor Kim Gardner resigned last May amid lawsuits seeking her removal, Milwaukee’s John Chisholm retired in January, and Baltimore’s Marilyn Mosby was defeated in July 2022 and convicted of perjury in September 2023. Last November, Loudoun County, Virginia, voters (62 percent Biden) ousted liberal Buta Biberaj, who declined to prosecute a transgender student for assault, and in June 2022 voters in San Francisco (85 percent Biden) recalled famed radical Chesa Boudin.

Similarly, this Tuesday, voters in San Francisco passed ballot measures strengthening police powers and requiring treatment of drug-addicted welfare recipients.

In retrospect, it appears the Floyd video, appearing after three months of COVID-19 confinement, sparked a frenzied, even crazed reaction, especially among the highly educated and articulate. One fatal incident was seen as proof that America’s “systemic racism” was worse than ever and that police forces should be defunded and perhaps abolished.

2020 was “the year America went crazy,” I wrote in January 2021, a year in which police funding was actually cut by Democrats in New York, Los Angeles, San Francisco, Seattle, and Denver. A year in which young New York Times (NYT) staffers claimed they were endangered by the publication of Sen. Tom Cotton’s (R-Ark.) opinion article advocating calling in military forces if necessary to stop rioting, as had been done in Detroit in 1967 and Los Angeles in 1992. A craven NYT publisher even fired the editorial page editor for running the article.

Evidence of visible and tangible discontent with increasing violence and its consequences—barren and locked shelves in Manhattan chain drugstores, skyrocketing carjackings in Washington, D.C.—is as unmistakable in polls and election results as it is in daily life in large metropolitan areas. Maybe 2024 will turn out to be the year even liberal America stopped acting crazy.

Chaos and disorder work against incumbents, as they did in 1968 when Democrats saw their party’s popular vote fall from 61 percent to 43 percent.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

Tyler Durden Sat, 03/09/2024 - 23:20

Read More

Continue Reading

Spread & Containment

The Coming Of The Police State In America

The Coming Of The Police State In America

Authored by Jeffrey Tucker via The Epoch Times,

The National Guard and the State Police are now…

Published

on

The Coming Of The Police State In America

Authored by Jeffrey Tucker via The Epoch Times,

The National Guard and the State Police are now patrolling the New York City subway system in an attempt to do something about the explosion of crime. As part of this, there are bag checks and new surveillance of all passengers. No legislation, no debate, just an edict from the mayor.

Many citizens who rely on this system for transportation might welcome this. It’s a city of strict gun control, and no one knows for sure if they have the right to defend themselves. Merchants have been harassed and even arrested for trying to stop looting and pillaging in their own shops.

The message has been sent: Only the police can do this job. Whether they do it or not is another matter.

Things on the subway system have gotten crazy. If you know it well, you can manage to travel safely, but visitors to the city who take the wrong train at the wrong time are taking grave risks.

In actual fact, it’s guaranteed that this will only end in confiscating knives and other things that people carry in order to protect themselves while leaving the actual criminals even more free to prey on citizens.

The law-abiding will suffer and the criminals will grow more numerous. It will not end well.

When you step back from the details, what we have is the dawning of a genuine police state in the United States. It only starts in New York City. Where is the Guard going to be deployed next? Anywhere is possible.

If the crime is bad enough, citizens will welcome it. It must have been this way in most times and places that when the police state arrives, the people cheer.

We will all have our own stories of how this came to be. Some might begin with the passage of the Patriot Act and the establishment of the Department of Homeland Security in 2001. Some will focus on gun control and the taking away of citizens’ rights to defend themselves.

My own version of events is closer in time. It began four years ago this month with lockdowns. That’s what shattered the capacity of civil society to function in the United States. Everything that has happened since follows like one domino tumbling after another.

It goes like this:

1) lockdown,

2) loss of moral compass and spreading of loneliness and nihilism,

3) rioting resulting from citizen frustration, 4) police absent because of ideological hectoring,

5) a rise in uncontrolled immigration/refugees,

6) an epidemic of ill health from substance abuse and otherwise,

7) businesses flee the city

8) cities fall into decay, and that results in

9) more surveillance and police state.

The 10th stage is the sacking of liberty and civilization itself.

It doesn’t fall out this way at every point in history, but this seems like a solid outline of what happened in this case. Four years is a very short period of time to see all of this unfold. But it is a fact that New York City was more-or-less civilized only four years ago. No one could have predicted that it would come to this so quickly.

But once the lockdowns happened, all bets were off. Here we had a policy that most directly trampled on all freedoms that we had taken for granted. Schools, businesses, and churches were slammed shut, with various levels of enforcement. The entire workforce was divided between essential and nonessential, and there was widespread confusion about who precisely was in charge of designating and enforcing this.

It felt like martial law at the time, as if all normal civilian law had been displaced by something else. That something had to do with public health, but there was clearly more going on, because suddenly our social media posts were censored and we were being asked to do things that made no sense, such as mask up for a virus that evaded mask protection and walk in only one direction in grocery aisles.

Vast amounts of the white-collar workforce stayed home—and their kids, too—until it became too much to bear. The city became a ghost town. Most U.S. cities were the same.

As the months of disaster rolled on, the captives were let out of their houses for the summer in order to protest racism but no other reason. As a way of excusing this, the same public health authorities said that racism was a virus as bad as COVID-19, so therefore it was permitted.

The protests had turned to riots in many cities, and the police were being defunded and discouraged to do anything about the problem. Citizens watched in horror as downtowns burned and drug-crazed freaks took over whole sections of cities. It was like every standard of decency had been zapped out of an entire swath of the population.

Meanwhile, large checks were arriving in people’s bank accounts, defying every normal economic expectation. How could people not be working and get their bank accounts more flush with cash than ever? There was a new law that didn’t even require that people pay rent. How weird was that? Even student loans didn’t need to be paid.

By the fall, recess from lockdown was over and everyone was told to go home again. But this time they had a job to do: They were supposed to vote. Not at the polling places, because going there would only spread germs, or so the media said. When the voting results finally came in, it was the absentee ballots that swung the election in favor of the opposition party that actually wanted more lockdowns and eventually pushed vaccine mandates on the whole population.

The new party in control took note of the large population movements out of cities and states that they controlled. This would have a large effect on voting patterns in the future. But they had a plan. They would open the borders to millions of people in the guise of caring for refugees. These new warm bodies would become voters in time and certainly count on the census when it came time to reapportion political power.

Meanwhile, the native population had begun to swim in ill health from substance abuse, widespread depression, and demoralization, plus vaccine injury. This increased dependency on the very institutions that had caused the problem in the first place: the medical/scientific establishment.

The rise of crime drove the small businesses out of the city. They had barely survived the lockdowns, but they certainly could not survive the crime epidemic. This undermined the tax base of the city and allowed the criminals to take further control.

The same cities became sanctuaries for the waves of migrants sacking the country, and partisan mayors actually used tax dollars to house these invaders in high-end hotels in the name of having compassion for the stranger. Citizens were pushed out to make way for rampaging migrant hordes, as incredible as this seems.

But with that, of course, crime rose ever further, inciting citizen anger and providing a pretext to bring in the police state in the form of the National Guard, now tasked with cracking down on crime in the transportation system.

What’s the next step? It’s probably already here: mass surveillance and censorship, plus ever-expanding police power. This will be accompanied by further population movements, as those with the means to do so flee the city and even the country and leave it for everyone else to suffer.

As I tell the story, all of this seems inevitable. It is not. It could have been stopped at any point. A wise and prudent political leadership could have admitted the error from the beginning and called on the country to rediscover freedom, decency, and the difference between right and wrong. But ego and pride stopped that from happening, and we are left with the consequences.

The government grows ever bigger and civil society ever less capable of managing itself in large urban centers. Disaster is unfolding in real time, mitigated only by a rising stock market and a financial system that has yet to fall apart completely.

Are we at the middle stages of total collapse, or at the point where the population and people in leadership positions wise up and decide to put an end to the downward slide? It’s hard to know. But this much we do know: There is a growing pocket of resistance out there that is fed up and refuses to sit by and watch this great country be sacked and taken over by everything it was set up to prevent.

Tyler Durden Sat, 03/09/2024 - 16:20

Read More

Continue Reading

Trending