Yesterday, we analyzed the distribution of BTC's global class power. Today's article further discusses the distribution of support and opposition to BTC in the United States. We know that the domestic political and economic power of the United States is intricate, and because the United States’ economic share is too large in the world, it is difficult to completely transfer all the contradictions abroad. The inability to transfer all the contradictions means that the distribution of interests is inferior. You are more than I am, and the struggle of involution begins. During the U.S. election last year, the almost undisguised life-and-death struggle between the Republican Party and the Democratic Party shocked the world. This is no longer a struggle, but a war.
For BTC, I am afraid that the weight of the United States is more than 50%. The United States cannot decide whether BTC will survive or not, but it can undoubtedly determine the market trend of BTC. Therefore, it is necessary to see both the global power distribution and the US power distribution in order to have a comprehensive understanding of the environment and trends of BTC's survival and development.
Note that the trend of internal opinions in the following analysis is not always uniform. In the same camp, some people will support BTC, and some people will oppose BTC. It is you who have me, and I have you, but This article discusses the main group opinions. For example, former President Trump of the Republican Party opposed BTC, but in fact the mainstream Republican Party supports BTC, and many people firmly support it.
For the internal class of the United States associated with BTC. From the perspective of politics and economy, politically, it mainly considers the opposition between the Democratic Party and Republican Party, while economically, it mainly considers the influence of family (family wealth office and wealth fund), chaebol and institution.
From a political perspective, in general, the Democratic Party is an opponent of BTC, while the Republican Party is a supporter of BTC. Why is this so? This is related to their respective voters and political foundations. Who are the supporters of the Democratic Party? From the supporters of Silicon Valley, intellectual elites, establishments, southern and western immigrants, we can find that the Democratic Party is actually a staunch supporter of the Fed system. You can see that after the Biden Democratic government came to power, the U.S. Treasury Department and the Fed have obviously cooperated closely. , When did Biden talk about the Fed? But you recall the Trump Republican era. In Trump's words, all economic unfavorable conditions are the fault of the Fed. Chairman Powell is a saboteur and can't wait for the Fed to go fast. Why does the Republican Party oppose the Fed? Because who are its supporters? Old white, red neck, central rust belt, descendants of European immigrants from the northeast. Starting from their ancestors, these people advocated "anarchy and freedom" and opposed big government and central control. Naturally, they opposed the Fed. In history, the Democratic Party and the Republican Party were originally one party, called the "Democratic Republican Party," but later discovered that the "democracy" and "Republican" they admired were actually sharply opposed to each other, thus splitting into the current two parties in the United States. This difference in "name" actually represents a difference in world outlook.
Since the Democratic Party is a supporter of the Federal Reserve, and the Federal Reserve is a direct chaebol family collection of dollar hegemony and interests, it is not difficult to imagine its opposition to BTC. Moreover, the current political trend of the Biden administration is to imitate China under the background of the failure of American "neoliberal" thought in the past 30 years, change the original small government mechanism of the United States, and reshape the powerful "big government" similar to the American Roosevelt era. Mechanism. In this case, the Democratic Party must hope that the US dollar hegemony system represented by the Federal Reserve will be strengthened rather than weakened. Against this background, it is normal to oppose BTC. Biden earlier instructed the SEC (United States Securities and Exchange Commission) to include the entire BTC market into the regulatory system, but the proposal was strongly opposed by 2 of the 5 members of the SEC Committee, and 2 of the Republican members. One of the members, Hester Pierce, was accepting financial The Times resolutely stated in an interview that the SEC will never be allowed to regulate BTC, because doing so will discourage “investors from the U.S. market”. The struggle between the two parties over BTC is obvious.
So to put it bluntly, the Democratic Party represents more the power of the old faction in the "Wall Street America", while the Republican Party represents the power of the "Mayflower" and the "Freedom" in the "Washington America". The U.S. dollar is not only a tool for global squeeze. In the minds of a considerable number of Republican lawmakers, the U.S. dollar also represents Wall Street’s financial squeeze on American industrial capital and Republican supporters. Against this background and historical origin, BTC can not only resonate with their ideology, but also have practical value against the U.S. dollar. Therefore, the mainstream opinion in the Republican Party supports BTC. Of course, it is strange like Trump. Except for tires.
Back to the class analysis of economic power. The family undoubtedly supports BTC silently, because BTC gives their family wealth an extra option of "last wealth" and makes their asset wealth allocation more flexible. However, families are mainly individuals in the overall economy. In fact, they do not have such great political and economic influence. The most influential people in BTC are the chaebols.
What is the attitude of the chaebols? In a nutshell, almost all major banks and financial institutions in the U.S. are supporting BTC overtly or implicitly. Many chaebols have issued cryptocurrencies themselves, and some have participated in trading centers that support cryptocurrency assets, but they have not publicly supported BTC. Why? Because on the one hand, the benefits of cryptocurrency are still relatively small, and it is not worth their efforts to promote. On the other hand, it is the scruples of the Fed. If it is targeted by the Fed's people because of public support for BTC, it may affect the interests of the chaebols. But their supportive attitude is essential, because BTC is beneficial to them. On the one hand, an additional currency market has provided them with more convenient and cheaper tools for their future capital operations. On the other hand, a large number of chaebols do not have a foothold in the Fed. No matter how strong the US dollar is, they cannot directly profit. They are of course envy and hatred for the Fed chaebols. BTC gives them a potential tool for confrontation.
Finally, there are US institutions. The behavior of institutions is naturally "slippery" because they are speculators, and no institution thinks that they can truly manipulate BTC. But in essence, they also support BTC. Just kidding, this is a new, brand-new market, which means that the business of institutions can be expanded. In the era of full involution, how important is it to have a new market? They wish that the bigger the BTC market, the better. As for the pros and cons to the US dollar? Does it have anything to do with them making money?
Therefore, based on American class analysis, we can infer that the Democratic government will suppress BTC to a certain extent, but at the same time it is firmly opposed by the Republican Party. If the Biden government's economic recovery plan is relatively successful, BTC will be suppressed for a relatively long time; and if the Biden government's economic recovery plan fails or execution is mediocre, BTC will become popular in the world ahead of schedule. From the overall trend, since most of the economic power of the superstructure in the United States tends to support BTC, in the long run, BTC will inevitably become an important currency and asset in the United States. This may be called "the history of the mind." The psychological trend of the main force will eventually promote the realization of the historical trend of "consensus" in reality.
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