Excellent points made. Thank you for that insight. I never really thought about it but it is true....the last thing the political establishment wants is to have to answer for what they do. Lost money (which isnt lost just re-directed) would be a thing of the past. In the end, the spending, all of it, would be for everyone to see.
As for the legitimacy of crypto, I think Dimon already did that. A banker in his position would never even bother with something that wasnt a serious threat to their way of life, which is cheating and stealing. To me, Dimon's comments solidified what most of us already knew, that the banks are facing a loss of control, something they enjoyed for the last 100 years.
Exactly, JP Morgan got caught and paid the largest fine in history (3 times the second biggest, the oil spill) and yet he's still bashing others... Imagine what would be revealed if these guys finances are put on a transparent ledger ;)
Thanks for the great comment!
Of course, he is certainly not the only corrupt fish in the pond. I recall Citi got nailed to the tune of billions while Well Fargo just keeps getting deeper and deeper.
Maybe I am way off base, but I think the newer technologies are more powerful than the governments and the bankers. Many seem to be posting how the bitcoin and crypto could be in trouble as the powers that are start to realize the potential. For me, the cat is out of the bad. Their only option is to buy it up which we already see the bankers doing.
Haha I think that if there were a clean fish in the pond, then they would've ate it ;)
Jokes aside, I think you're right, the cat is out of the bag and I'm sure they're buying too.