{"id":20543,"date":"2023-05-04T04:08:32","date_gmt":"2023-05-04T04:08:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/robert-kennedy-jr-warns-of-mega-economic-crisis-says-its-not-just-the-banks-economics-bitcoin-news\/"},"modified":"2023-05-04T04:08:32","modified_gmt":"2023-05-04T04:08:32","slug":"robert-kennedy-jr-warns-of-mega-economic-crisis-says-its-not-just-the-banks-economics-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/robert-kennedy-jr-warns-of-mega-economic-crisis-says-its-not-just-the-banks-economics-bitcoin-news\/","title":{"rendered":"Robert Kennedy Jr Warns of Mega Economic Crisis \u2014 Says ‘It’s Not Just the Banks’ \u2013 Economics Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n\n<\/div>\n

U.S. Presidential Candidate Robert F. Kennedy Jr. has warned that \u201cthe banking collapse is the tip of an economic mega-crisis,\u201d emphasizing that \u201cIt\u2019s not just the banks.\u201d He also slammed President Joe Biden\u2019s crypto mining tax proposal. \u201cIt is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere,\u201d Kennedy stressed.<\/strong><\/p>\n

Looming Economic \u2018Mega-Crisis\u2019<\/h2>\n

Robert F. Kennedy Jr., who launched his presidential campaign last month, issued several warnings this week about the state of the U.S. economy, the banking crisis, and President Joe Biden\u2019s cryptocurrency mining tax proposal. He is a nephew of President John F. Kennedy and a son of U.S. attorney general Robert F. Kennedy.<\/p>\n

Firstly, Kennedy warned about an incoming economic \u201cmega-crisis.\u201d He tweeted Tuesday:<\/p>\n

\n

The banking collapse is the tip of an economic mega-crisis. It\u2019s not just the banks.<\/p>\n<\/blockquote>\n

\u201cJob openings plummeted for the third month in a row. Core factory orders dropped for the second consecutive month. Inflation is destroying the middle and working class. We need to turn our attention to rebuilding our nation,\u201d his tweet further details.<\/p>\n

Bank Stocks Are Crashing, Bailouts Create Problems<\/h2>\n

Commenting on President Joe Biden assuring Americans on Monday that the banking system is \u201csafe and sound,\u201d Kennedy pointed out in another tweet that \u201cbank stocks are crashing.\u201d He stressed: \u201cThe American people deserve more than glib assurances and perception management.\u201d<\/p>\n

The presidential hopeful continued: \u201cBailouts create perverse incentives for banks to make reckless swings for the fences with depositors\u2019 money, knowing they will pocket vast windfalls when they connect and that the taxpayer will bail them out when they miss.\u201d<\/p>\n

He added: \u201cI understand the rationale for the rescue of First Republic Bank. The problem isn\u2019t this specific bailout. It\u2019s a system of too-big-to-fail institutions that requires bailouts in the first place.\u201d Regulators seized<\/a> First Republic Bank on Monday and sold most of its assets to JPMorgan Chase.<\/p>\n

Biden\u2019s Crypto Mining Tax Proposal Is \u2018a Bad Idea\u2019<\/h2>\n

On Wednesday, Kennedy also slammed<\/a> the proposed Digital Asset Mining Energy (DAME) excise tax. \u201cBiden\u2019s proposed 30% tax on cryptocurrency mining is a bad idea,\u201d he tweeted, elaborating:<\/p>\n

\n

Cryptocurrencies, led by bitcoin, along with other crypto technologies are a major innovation engine. It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere.<\/p>\n<\/blockquote>\n

\u201cSome advocate tight control of cryptocurrencies to prevent their use by criminals. But it isn\u2019t just criminals who want privacy. So do dissidents and ordinary citizens,\u201d he emphasized. \u201cGovernments harass their enemies and crush dissent by controlling bank accounts and payment platforms. Until we restore trust in government (a distant prospect) we need cash and crypto to ensure freedom.\u201d<\/p>\n

What do you think about the warnings by Presidential Candidate Robert F. Kennedy Jr.? Let us know in the comments section below.<\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n