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It's Time To React Against US Establishment

By Cryptofab | Cointune | 8 Mar 2023

Crypto market immediately dumped after Jerome Powell's yesterday speech, where he warned against inflation... Well, nothing new under the sun.

Last week the market also suffered due to Gary Gensler's multiple attempts to regulate everything, including Ethereum liquid staking? Who knows...

Why does the market still follow these guys? Have they succeeded in doing anything real so far, except in changing inflation rates all the time or regulating everything? You can read a lot of pages about their successes which led them to these positions. But they have also failed in some cases.

Jerome Powell's failures

In September 2019, the repo market experienced a crisis, with short-term interest rates spiking unexpectedly. The Fed responded by injecting billions of dollars into the market. Powell completely failed to foresee this crisis.

Now, back to March 2023, the US housing market could plunge by 20% in the coming months (see the link below). Has Jerome said anything about that? What does he propose? Is the increase of the interest rates the only option we have?

Gary Gensler's failures

Gary Gensler met with Sam Bankman-Fried several months before FTX collapse. However, the SEC missed on FTX. They failed to anticipate the crash. Now Gary is focused on Binance, BUSD, Ethereum, and finally all the altcoins, which according to him could be all securities. Only Bitcoin would be safe.

What are the next steps?

Jerome and Gary could continue working as long as the President of the US, who is older than them, and the Senate, a lot of guys of the same generation too, will maintain them in their functions. So they will continue to raise interest rates as the only option for one, and to try to regulate everything for the other one. In the meantime, Bitcoin, Ethereum and other altcoins will continue to be adopted by more and more people in the world, with or without the US... Because the world is not only the US and the importance of the US is vanishing with the time. So, it might be time to stop listening to them and to focus on the future, which will be for sure without them.

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