There is speculation all over the internet that more and more central banks are on the verge of legalizing bitcoins and other crypto currencies. Legalizing crypto currencies is a way to ensure that the elite and the state continue to control key asset classes. Bitcoins and its forms were outside the influence of central banks and global controlling forces. Legalizing bitcoins is ‘If you can’t beat them then join them first and destroy them later’. States will do everything to ensure that you pay high taxes to them. Legalizing cryptocurrencies is to ensure that the common man continues to pay for the expenses of their so called elected representatives. The US dollar is over the verge of getting replaced by bitcoins and other crypto currencies. But I believe that gold will zoom in the intermediate period between crypto currencies replacing the US dollar as the world preferred mode of exchange.
In India, the government keeps on increasing service tax every year.
This post was published at GoldSeek on 29 June 2017.
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