Steve Bannon Lauds Cryptocurrency As A Tool To Resist The "European Establishment"

Authored by Aaron Wood via,

Steve Bannon, former Chief Strategist to US President Donald Trump, said that cryptocurrencies could be an asset to the European anti-establishment movement at an event sponsored by the Swiss newspaper Die Weltwoche on March 6.

image courtesy of CoinTelegraph

At his lecture in Zurich, Bannon stated that cryptocurrencies and the Blockchain will “empower [the populist] movement, empower companies, [and] empower governments to get away from the central banks that debase your currency and makes slave wages.

With cryptocurrency “We take control of the central banks away. That will give us the power again.”

Bannon sees broad use and integration of cryptocurrencies and the Blockchain as means of emancipation from establishment forces that have created “a new serfdom.

Once you take control of your currency, once you take control of your data, once you take control of your citizenship, that’s when you’re going to have true freedom,” said Bannon.

Bannon accused governments, central banks, and tech companies of taking away the rights and identities of ordinary people and using them for their own purposes.

Bannon is travelling in Europe on a speaking tour following right-wing victories in the recent Italian elections. In the lecture, Bannon speaks at length about how cryptocurrencies and the Blockchain can be instruments of the movement of right nationalism.

Previous to working at the Trump administration, Bannon was a founding member on the board of Breitbart News, which became known as a voice of the alt-right movement in the US with an outspoken brand of anti-establishment far-right rhetoric and reporting. Bannon was an adviser to President Trump as well as a member of the National Security Council before being dismissed from the White House in August 2017.

As previously reported by Cointelegraph, the canton of Zug in Switzerland is establishing a global hub for crypto and Blockchain that’s come to be known as “Crypto Valley”. The Swiss Financial Market Supervisory Authority (FINMA) has implemented forward-thinking policies towards cryptocurrencies, making Switzerland a competitive environment for developing crypto, Blockchain, and distributed ledger technologies.


Endgame Napoleon Kurpak Wed, 03/07/2018 - 17:23 Permalink

Funny, I was thinking that Tyler always has articles with standout graphics. It is like the days when newspapers put some priority on tailoring the visuals to their articles. I think it reinforces the ideas. 

So, Bannon sees the cryptos as a vehicle of liberty. Hmmm. As a non-mathematical type without a background in economics or finance, I just see the cryptos as the rebel alternative. For that reason, I am kind of rooting for them with no rational foundation behind it, but at the same time, people on here keep suggesting that big government might really be behind the cryptos.

Maybe, Bannon thinks cryptos won’t be overtly controlled by Western governments, unlike what China is doing to the Bitcoin people. Maybe, he knows that Western governments will be limited, legally, in what they can do to sculpt cryptos into just another form of the fiat that you guys disdain.

In reply to by Kurpak

affirmed_78 tmosley Wed, 03/07/2018 - 09:55 Permalink

This coming from the IOTA lover lol.

On the last point - no you won't, because nobody cares about bcash.  It's a centralized knock-off designed to boost a few egos who didn't like the fact that they had no power over bitcoin.  There's no way in hell that bcash is going to gain worldwide adoption over bitcoin, which is more decentralized, more secure, and has much stronger community support.



In reply to by tmosley

iLLivaniLLi19 Gaius Frakkin'… Wed, 03/07/2018 - 10:07 Permalink

~93% of US Dollars already exist only digitally and they warn us about a crypto-cashless society lol.


The only reason we are not already completely cashless is that it would destroy the high/low alliance and black market budgets/blackmail/trade/stealth welfare re-distribution.


Another problem: The accelerating inflation rate is making a mockery of US coinage. You'd have trouble giving a handful of pennies away for free. I bought a chicken sandwich with large handful of dimes and nickels the other day and it felt like a joke. What is the point of coins if you need a purse to carry enough value to be worth it?

In reply to by Gaius Frakkin'…

Endgame Napoleon Gaius Frakkin'… Wed, 03/07/2018 - 18:22 Permalink

The debt thing will not be solved just by monetary policy, because even if they find a better currency system, or if they absolve the free-stuff Millennials of their college debt / card debt, it WILL NOT solve the problem of the “rent that is too d****d high,” not when most of the available jobs in America’s service economy are part-time, temporary, high turnover or 1099 gigs at low wage levels. 

The rent is not a one-time thing; the rent just keeps coming due.

We need more breadwinner jobs.

So, you have a debt jubilee, eliminating one monthly expense. Except in cases where the government is bailing out the most irresponsible borrowers, it will not reduce their monthly expenses enough to make the wages fro, a $10 to $12-per-hour, unreliable job in the service sector stretch across a full range of household bills, not for long, anyway.

Newly liberated debtors might be able to temporarily move out of mommas’ basements across the land, but they will still have to finance the initial expenses of renting an apartment, borrowing more money to do so and, between each low-wage churn job, borrowing even more money to cover expenses.

These jobs do not pay enough to cover a full range of household bills on earned-only income while you hold them, not when you have only one income and no unearned income, much less enabling you to save any money to finance expenses between churn jobs.

Every time you get a new low-wage churn job, almost a month elapses before you receive your first low paycheck, and you must cover expenses with something other than thin air during these periods.

The womb-productive single mommas, working part time to stay below the earned-income limits for a multitude of monthly welfare programs, and with higher paychecks due to their child tax credits, have their sex-and-reproduction wage boosters from big government to bridge the gap between low, sporadic pay and living expenses.

Married and divorced mommas likewise have womb-productivity-based unearned income from spouses and exes, hoisting up the low wages in the many jobs dominated by them. Many are merely adding keeping-up-with-the-Jones’ money to a spousal income, with employers in the many jobs “voted best for moms,” explaining that “they have somethin’ comin’ in.’ 

The non womb productive must rely on the wages alone to cover all household bills, and they cannot even reduce expenses to Spartan simplicity as a means of getting by due to the high-turnover nature of most jobs in this crappy service economy. 

That is why half of America’s 18-to-34-year-old, prime-working-age men are living with their parents, along with many others who do not have access to unearned income from monthly welfare, refundable (EITC) child-tax-credit welfare up to $6,444, child support that covers rent or spousal income that supplements the low wages.

Many of the people out of the market for unaffordable housing do not even have huge debt. It is the wages and, even worse, the irrational, churn-mobile nature of these jobs, which often revolve around things unrelated to the work, like social cliques, as opposed to the number of accounts generated and retained, that makes this economy so brutal and so ridiculous.


In reply to by Gaius Frakkin'…