The ongoing regulatory enforcement actions are threatening to drive US crypto businesses offshore. The implications of such a shift for the country’s economy are significant, something that has translated into declining crypto prices, making investors even more jittery.
“The capital of the rich, on the other hand, is much more plentiful, and it’s fungible across the entire globe – all thanks to a host of intermediaries that cater to the American wealthy and will dutifully do whatever they are told as long as they receive a phat commission.” If the US government decides to distribute another round of “freshly printed money” – as they did with the COVID stimulus but in the form of interest – it will not go to the mass affluent, who have little to no savings. Hayes said the funds will instead flow straight to the top 10%, or just the top 1%, who hold the majority of wealth in America. This money will then be deployed into “various forms of hard assets and stores of value.