The SEC Attack Dog Is Out

If there's one thing I learned over the course of my life it's that things going on today play a HUGE impact on the future. With tech that future comes much faster now compared to actions before that took generations we now see them within our own lifetimes.

We've gone from a country of privacy, security a government which somewhat looked out for it citizens and had at least some morals to a country which government now attacks it's citizens and companies.

Now of course by no means is it like some other countries in terms of attacking it citizens but when you financially screw someone are you not pretty much giving them a death sentence?

SEC Threatens Coinbase

As of today Coinbase as received a notice of possible enforcement action for the SEC (Security and Exchange commission) which relates to it's new interest earning product which was planned to launch in a few weeks.

This new product is called Coinbase Lend and what's even more crazy is the SEC wont comment on it. In fact the SEC wouldn't even talk to the CEO of the company! I mean that's seriously wrong now we have an arm of the government just handing out sue notices about products that are not even launched and when someone questions it they get zero response. To me that sounds like a clear act of an attack on a company and way out of line for the US government.

Just like companies and people should be held liable for their actions I firmly believe it's about time we start holding governments accountable for theirs. The continued overstepping of these arms of the government and few people in our government is totally uncalled for and I firmly believe people are getting seriously sick of it.

I believe at this moment in time our government is fearing about losing power but that's exactly what you want. Your citizens and people should be in power not some 500 people. Because of this fear they are once again making wild attacks, trying to pass new rules and laws that don't even exist and saying people and companies are in violation of them which isn't true at all! A person or company is not breaking the law if one does not exist. There is a reason our country was founded on by a constitution and one that seems to be getting trampled on more with each passing day.

In The Past

I've written about this before and I think it's very important to understand. Banks are pretty much legalized loan sharks and arms of the government. If you don't pay back your loads you wont have the basic necessities to live anymore. Food, Shelter and water. Banks have one goal in mind and that's to take your money you "invest" with them and load it out at huge rates. We are talking about 10%+ on average just for loaning out and holding people accountable and if they don't pay back taking all of their assets till they repay.

This system is often abusive to the people that take out loans and as an investor you quickly realize you get a fraction of the revenue and your money isn't even kept on hand.

So was born Peer 2 Peer lending which seriously was revolutionizing. Now you yes you the every day citizens could loan out your money and earn 6%+ interest on your loans. Overnight everyday people turned into banks and financial wealth was spreading to more people. What happened to that? Government and SEC stepped in and pretty much said P2P lending is over you can no longer do it.

What happened next?

Those same principles are now applied to DeFi in crypto and once again massive wealth is being given back to people and not funneling to mega corps and governments/banks. What do we see? The SEC and government stepping in again saying we can't do this. I call BULL SHIT and our government has clearly been overstepping our privacy and our rights since 2001.

Other new startup companies that are starting to gain power are also being slapped in the face by the SEC in this most recent case Coinbase.

So my question to you is. Do you feel the USA government is infringing on peoples rights and we are losing more and more freedoms every day? Or does the SEC have the right and it's a good thing what they are doing?

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