this just isn't justice, March 16th
“Justice delayed is better than justice denied,”
Teng Biao, a 49-year-old Chinese human-rights activist, Guo critic and visiting professor at the University of Chicago
I certainly couldn’t agree more, save for a minor detail. I quote another wise individual in order to frame the above thoughts on Guo Wengui, a white-collar criminal who went from Beijing to “buddy-buddy” with Trump, as per the Journal.
"Justice is defined by the hand that claims it.” Tekhartha Zenyatta
In any event, while I agree that Wengui’s actions merit correction, especially as he propagates a poor narrative for cryptocurrency, I raise concerns over what seems to be the abetting of more injustices of a financial nature.
The news this week around the globe centers on the collapse of notably sized Silicon Valley Bank, and the subsequent renumeration of the involved parties. In other words, they failed and got a second chance. Involved depositors had their accounts made whole.
Now headlines surround the banking sector with concerns as the United States Federal Reserve’s interest rate policy ultimately resulted in these shocks.
In short, one man, we could call him Jerome, starts the fire. It catches and sets homes ablaze! Somehow, the homeowners escaped unscathed, despite the loss of their homes. And to make matters better, they receive new homes in which to live.
Readers might not understand this anecdote, but the problem is, the one responsible for the fires is not considered a criminal. In fact, he’s part of an organization that seems to decide the fate of the world, but seems to act in some unknown interest.
Why is the interest unknown?
Particular banks, similar to those that failed and were recovered, did not receive the benevolence of the Fed. Moreover, these particular banks and their connections to blockchain and cryptocurrency actually appear to be the target of a direct offensive against the very innovation.
Gary Gensler and the United States Securities and Exchange Commission have authority to continue to mislabel and misconstrue details to serve their narrative.
"Americans are in danger because of crypto. We’re protecting their stake." While I don’t rail against regulation, I must ask. What exactly are we regulating?
It seems the failure of traditional banks is regular. The misunderstanding and misdirection of parties to disparage an otherwise powerful technology is regular. Even politicians’ investment into matters which they legislate, the grossest example of insider trading by far, occurs regularly.
Thus, justice delayed is better than justice denied. Yes, but denial is more than just a river. Denial is a state in which incumbents of the previous paradigm find themselves in because they refuse to accept that change is inevitable. And with change, justice might step to a different beat.
- The justice system prevails for the traditional system, while it wails against the disruptive newcomer.
- The situation around SVB highlights the partiality of government organizations.
- As long as blockchain boasts real potential for change, opponents will slander and aggrandize matters.
- Justice will prevail, one hopes.