pull down to refresh

Sheldon Richman argues against the creation of a US sovereign wealth fund, saying the move would only further erode freedom, free enterprise, and free markets.
“To put it mildly, it’s a bad time to set up a SWF, which is not to say there is a good time. Instead, it’s the right time to massively cut spending, shrink the government, let the taxpayers spend their money as they prefer, and retire the debt. (A good case can be made for repudiating the debt. People who chose to lend money to the government relied on its power to tax, that is, to aggress. They voluntarily took a risk. With no debt to repay, the government would have less of an excuse to tax us. That would be a boon.”
That would be a good way for the government to have a tool to mess with the markets.
reply
Yeah, there's zero chance it wouldn't be egregiously abused.
reply
I agree, and of course this goes for bitcoin. That said, its gonna happen. Once I understood bitcoin I knew it would only be a matter of time until governments bought, held, and sold it. Its pretty much inevitable. Governments, especially the US one loves to manipulate markets.
reply