Criminal Chinese Government Crashes The Cryptocurrency Market

What do governments do? Enslave people. What do central banks do? Impoverish people. And what do government regulations do? Destroy capital, impoverish people and protect the monopolies of the 1%.
And today we are seeing how government regulations, which is just another word for ‘threats of violence’ and ‘extortion’ can impoverish people and destroy capital while protecting the financial banking monopoly.
And that is exactly what has happened in China this week where the People’s Bank of China, the Chinese central bank, has officially declared ICOs (initial coin offerings) to be an illegal method of raising money.
Not only are ICO and token sales now illegal, but the Central bank has also demanded that any business, fund, or organization that has already benefitted or is currently the beneficiary of such fundraising begin making arrangements to return the funds to their respective benefactors.
A committee led by China’s central bank [link in Chinese], the ones who ordered the ban, made a statement that ICO and Token sales have ‘seriously disrupted the economic and financial order.’

This post was published at Dollar Vigilante on September 4, 2017.