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On this episode of the Bitcoin Magazine Podcast, the BranBTC host sat down with everyone’s favorite Bitcoin maximizer, Pierre Rochard, to discuss the STABLE Act recently introduced to the public by members of the US Congress.
Rochard initially took a broad view on the subject, insisting that looking too closely at the language and intent of the STABLE Act would miss the bigger picture. Instead, he wanted to focus on the conditions of our society that have allowed preconceived notions of money to give an elite class undesirable power over the lives of everyday Americans.
The so-called “Cantillionaires” have positioned themselves next to the money printers, and are working to reign in new technologies that could render those printers obsolete. So much is the core of how Rochard looks at this regulatory climate; it is an attempt to consolidate control to allow for new monetary policies that would make the authoritarian regimes of the past look light.
To find out more about the STABLE bill itself, along with its huge implications and potentially unintended consequences, read through CoinCenter’s article, which analyzes the bill.
While BranBTC and Rochard agree that the chances of this bill being voted into law are slim, they pointed out that it could be just the first step in regulating bitcoin and other crypto assets. We should remain vigilant of any other such attempts to undermine the new technology of democratization, they concluded.