Monetary central planning bureaucrats all over the world including U.S. Treasury Secretary Steven Mnuchin are getting more paranoid over the popularity of cryptocurrencies.
Mnuchin held a press conference this week and made it perfectly clear that the gubmint will not tolerate people trying to keep their financial activities anonymous. And he doesn’t like the new proposed Facebook digital currency “Libra.”
Government bureaucrats can’t stand the idea of not being able to track the people’s activities, especially their financial activities. Control is very important to control freaks.
Besides control and tracking, the government’s monopoly over money, easy money and easy credit, is their way to legally and stealthily steal from the people or parasite off them. So this reminded me of Hans-Hermann Hoppe’s article on why the State demands control of money, which I very much recommend.