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L0la L33tz

@L0laL33tz15,378 subscribers

Independent Journalist. Bylines in too many places. "Anonymous Internet Commentator" @TheJusticeDept Writes @theragetech tips/corrections: [email protected]

Shorts

"With the Dollar backed stablecoins, you'll help expand the dominance of the US Dollar [...] It will be at the top, and that's where we want to keep it" What he means is: with Dollar backed stablecoins, the Global South will pivot towards digital Dollars over local currencies, allowing private, US Gov controlled entities to replace bank accounts around the globe. This does not just allow for the expansion of USD dominance by bypassing local governments – it gives the US unprecedented and direct control over worldwide economies as every stablecoin can be effectively frozen on behalf of the US with the click of a button. Additionally, it will provide the US with never seen before surveillance capabilities, providing real time access to financial transactions around the globe – fueling the unparalleled public-private partnership between Silicon Valley and the US war machine. If you are promoting stablecoins, you are promoting the end of national sovereignty in favor of total techno-fascist dystopia.

"With the Dollar backed stablecoins, you'll help expand the dominance of the US Dollar [...] It will be at the top, and that's where we want to keep it" What he means is: with Dollar backed stablecoins, the Global South will pivot towards digital Dollars over local currencies, allowing private, US Gov controlled entities to replace bank accounts around the globe. This does not just allow for the expansion of USD dominance by bypassing local governments – it gives the US unprecedented and direct control over worldwide economies as every stablecoin can be effectively frozen on behalf of the US with the click of a button. Additionally, it will provide the US with never seen before surveillance capabilities, providing real time access to financial transactions around the globe – fueling the unparalleled public-private partnership between Silicon Valley and the US war machine. If you are promoting stablecoins, you are promoting the end of national sovereignty in favor of total techno-fascist dystopia.

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Here’s Senator Lujan referring to DeFi as “frightening” in yesterday’s market structure markup, calling on the AG Committee to close loopholes that allow terrorists and cartels to access financial systems. I’ll tell you what I find frightening, Senator Lujan. I find it frightening that in a democracy, a person’s bank accounts can be closed without an order by a court, leaving people no right to a trial and no way to defend themselves. I find it frightening that a person’s life can be upended by a private institution because lawmakers, like you, continue to impose unworkable and unrealistic AML/CFT requirements. I find it frightening that because of these laws, millions of people go unbanked around the world, because financial institutions cannot afford to be dealing with people who come from certain backgrounds or who hold certain beliefs. I find it frightening that these laws you now seek to impose on *software* have no proven track record of even *working* to prevent the financing of terrorism and other crimes, and yet you continue to lobby for their expansion. And what I find most frightening, Senator Lujan, is that a person like you, who says that he wants to protect people from harm, seems to have not thought a single second about the harm that you are causing with the supposed solutions you propose. If you want to protect people from harm, AML/CFT needs to be reformed – and not slapped on any monetary transaction your jurisdiction gets its hands on.

L0la L33tz

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