Senator Lummis Slams Hillary Clinton, Advocates For Supporting United States Dollar Utilizing Bitcoin
Cynthia Lummis– Republican Senator for Wyoming– just recently fired back at Hillary Clinton for deriding cryptocurrencies. She suggested that Bitcoin uses a tough money solution to the United States dollar’s inflation issues.
Lummis Informs Clinton to Embrace The Future
Lummis’s remarks follow the cautionary words of former Secretary of State Hillary Clinton earlier today. In a panel discussion at the Bloomberg New Economy Online Forum in Singapore, the latter recommended that cryptocurrencies might “destabilize countries.”
Today, Lummis responded to Clinton with the opposite point of view. In a tweet, she stated that Bitcoin might assist “stabilize” an otherwise unsteady United States dollar.
” Great leaders do not fear the future. America might win the future by embracing Bitcoin as tough money that can be utilized to stabilize USD and undo the tailspin started in 1971.”
< img class =" size-full wp-image-73302" src=" information: image/svg+ xml; base64, PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxMTk5IDc5NyIgd2lkdGg9IjExOTkiIGhlaWdodD0iNzk3IiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyMCUyRjExJTJGQ3ludGhpYUx1bW1pcy1taW4uanBnIiBkYXRhLXc9IjExOTkiIGRhdGEtaD0iNzk3IiBkYXRhLWJpcD0iIj48L3N2Zz4 =" data-spai=" 1 "alt=" Cynthia Lummis "width=" 1199" height=" 797" > Cynthia Lummis. Source: CNBC In 1971, President Nixon completely eliminated the gold standard, putting the US cash supply under the Federal government’s control. Ever since, inflation has actually been an even more widespread issue, and savings rates throughout the Western world have actually enormously decreased. Bitcoin is typically promoted as a solution to this issue due to its absolutely fixed and non-manipulable financial policy.
The senator’s advocacy for development is a direct jab at Clinton’s branding as a politician. Running against Donald Trump in the 2016 United States election, the previous first woman became an emblem of ‘facility’ politics– which Bitcoiners generally despise. That stated, Trump has shown similarly afraid on the topic of crypto.
Is Senator Lummis a Bitcoin Maximalist?
It’s uncertain what Lummis has in mind when she requires Bitcoin “supporting” the United States dollar. She might imply that Bitcoin might “back” United States dollar value, like how gold did pre-1971. Alternatively, she might merely indicate that Bitcoin will force the United States dollar to compete as a store of value by lowering inflation.
In either case, Lummis unflinchingly describes Bitcoin as “cash,” instead of simply an “asset.” She’s revealed fervent dedication to the cryptocurrency for this reason in the past, even thanking God for its existence in a speech to congress. Like numerous Bitcoin maximalists, she’s likewise been critical of other cryptos and meme coins, like Shiba Inu.
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Published at Sun, 21 Nov 2021 19:24:30 +0000