In this post I told you all (all four of you) that economists were mentally deficient. Now no less than a Nobel Prize winner in Economics has proved me right.
Right here. He freaking up and said it straight out: "Government should ban Bitcoin."
Step aside, you dinosaur. The fucking meteor already hit. You're in the phantom world already, and you don't even know it. It's glorious.
If government bans crypto, they're essentially telling you to your face that you're a slave. If that were to happen, the price of all cryptocurrencies would explode all over the world because... well, there is no "the government," at least on a global scale. "The government" of whatever banana republic fascist regime can ban Bitcoin all it wants. It won't stop Bitcoin, Joe. You're a fucking economist. You should know that the market rules. If people don't want your elitist fascist Monopoly bank money and they have an alternative, they're going to shove that alternative right down your throat with extra gravy.
Additionally,
the notion that government would or even could ban crypto is absurd. Why would the government ban something that is going to bring them trillions in tax revenue? Yeah, trillions. Per year. I have no illusions about Bitcoin being anonymous. I know the blockchain is public. You'd better believe that when I spend my Bitcoin, I will declare my capital gains. At that point, it will be 18 percent of millions. There are a lot of people like me who #hodl a bit of coin. We will happily take our gains and pay our taxes. We're smart. We're too smart to make such an amateur mistake as to think the IRS won't notice millions in profit. We're also smart enough not to take our profits too soon. Remember what the dummies say, "You haven't made anything until you 'cash out.' duh." Exactly. That's part of the reason I'm not "cashing out," ( I cashed in when I traded Monopoly bank money for crypto, dipstick) I don't want to complicate my tax picture.
But when the time comes, the IRS will get its share, and that will be a lot of money. And there are a lot of people like me. So why would the government ban this?
Moreover,
If, as you stated, Professor, "One of the most important functions of government is to create money," is true, well, what is the government in a free and democratic land if not by, of, and for the people? "The government" doesn't mean you and your buddies dancing around the Maypole in the woods wearing silly masks and reassuring each other of your grand importance. It is people like me. People who work. People who add value. And if we want to trade lima beans, we darn tootin' will. If you are saying that only you and your delusional silly-mask-wearing colleagues in the cult have the right to define what is money, I have a great big sausage to shove right down your throat, with extra mustard.
Further to that,
The Constitution of the United States of America explicitly grants the power of creating "coin" to the PEOPLE via our representatives in Congress, NOT the inbred "bloodline" European silly-mask-wearers who own the Federal Reserve. If you want to ban anything, ban the Fed. It's illegal on its face.
The Founders would LOVE cryptocurrencies, you traitorous, doddering old fool.
And I must say, in a manner of conclusion,
We don't need overrated "intellectuals" who have done nothing but pen verbose and laughably wrong rants for the status quo to tell us how to usher in the future. We don't need that. You suck, Stiglitz. You're clueless. You represent everything that fucked up the world. We're sick of you. Get your weak old ass out of the way. We're building a better future, and we will soon delight in laughing at how our forebears were so dumb as to listen to the likes of you who have never worked an honest day in your lives, sheltered by ambrosia of elite Ivy League delusion that you fancy as intelligence.
Bitcoin is here to stay.
Satoshi Nakamoto will remain anonymous, but "he" will be hailed as a great hero for centuries after the world has forgotten what a Nobel Prize even was.