Weather Modification and the White House's Crypto Framework

the White House's efforts to crack down on cryptocurrency. Now, every so often we like to go a bit off piece here at coin Bureau and look into something removed from crypto. It could be a scandal from the world of traditional finance, or, as in today's case, some strange goings on that don't get nearly the amount of media coverage they should. Humans have been trying to control the weather for millennia, but it wasn't until the twentieth century

that we started getting any good at it. It's now thought that many countries around the world are involved whether modification schemes of some kind, both for benign and possibly nefarious purposes. What striking is that the technology which has been developed to make this possible is in many cases apparently extremely effective. In the first part of today's episode, I look at some of these technologies and tackle the question of why hardly anybody seems to be talking about this.

Next up, a look at what's been going on with regards to crypto at six Pennsylvania Avenue, Washington, d C. You might recall that President Biden issued an executive order about cryptocurrency all the way back in March, and the deadline for US agencies to submit their responses to it fell earlier this month. Shortly afterwards, the White House released a summary of these responses as a quote comprehensive framework

for responsible development of Digital assets. This report has important implications for cryptocurrency, which is why we've read and summarized it for you. I hope you enjoy are listening to these two pieces, and I'll be back talking crypto with Mike very soon, so be sure to stay tuned, and if you want even more content from coin Bureau, be sure to subscribe to our YouTube channel and visit us

on social media too. Humans have been trying to control the weather since the dawn of time, and to this day, it's generally believed to be something that we can't do very well, if at all. Well, what have I told you? That almost every major country is actively modifying the weather, and that the effectiveness of such technologies has been increasing exponentially. Being British, I can't possibly pass up an opportunity to

talk about the weather. So today I'm going to give you a brief history of weather modification, go over the different methods and their effectiveness, and examine whether this technology is secretly being used for nefarious purposes. As I mentioned in the introduction, humans have been trying to control the weather for thousands of years through all sorts of rituals.

More often than not, these rituals were meant to try and appease a god, to cause rain, usually in response to a drought, or to try and prevent a dry season. This is actually the same reason why most governments continue to try and manipulate the weather today, at least on paper. More about that later now. Not surprisingly, none of the historic rain rituals were successful, and their perceived success was only ever due to coincidence rather than any solid science.

Then again, nobody can say for sure, because it's harder to figure out what happened the further back you go. What is well documented is that many militaries around the world started to notice that rain would fall after large battles involving lots of gunfire in the seventeen and eighteen hundreds. This resulted in the United States and others trying to cause rain by shooting into the sky, but it's believed

that these experiments failed. We now know that air pollution has the potential to seed clouds, and it's believed that this is the main reason why there is now less snow and ice in mountainous areas. Clouds are seeded prematurely by car pollution, causing it to rain or snow before

the clouds can reach the mountains. The more you know now, it wasn't until the late eighteen hundreds that a German American inventor named Louis Gaffman proposed a scientific way of creating rain, specifically by shooting liquid carbon dioxide into clouds. It was around this time that so called rainmakers started

to emerge across the United States. Now, rainmakers were basically traveling showman who would try and modify the weather using a series of chemicals, among other things, Although most rainmakers were not much better at making it rain than the ancient ritualists, there was one man who seemed to have a high success rate, and his name was Charles Hatfield. Charles became famous in nine four when he caused it to rain over Los Angeles using a series of towers

spraying chemicals into the sky. When he was asked about how he did it, Charles reportedly said, quote, I do not make it rain. That would be an absurd claim. I simply attract clouds and they do the rest. This is why the city of San Diego contacted Charles at the end off in the middle of a massive drought. Charles agreed to their request to make it rain and even said the city only had to pay him if he succeeded, a deal too good for San Diego's officials

to pass up. Charles's confidence didn't disappoint because in January nineteen sixteen, he made it rain so much that many parts of San Diego experience floods, something he achieved by reportedly burning chemicals in a forest outside of the city. Nineteen sixteen would go on to be the wettest year in the region's history. Now as amazing as Charles's rainmaking was,

it was still more showmanship than science. It was hard to prove that Charles's chemical shenanigans were the actual cause of the rain, particularly in nineteen sixteen, when the rains continued long after his modification. This is why Charles's rainmaking is disputed to this day. This is also why the history of weather modification is more often associated with Vincent Schaefer, an American scientist who's credited with the creation of cloud seeding in nineteen forty six while he was working as

a researcher at General Electric. What's wild is that Vincent reportedly discovered cloud seeding by accident. The story goes that he was working on another project related to ice formation on aircraft when he breathed into a box where he had placed dry ice, causing ice crystals to form in

the air. Note that ice crystals form before rainfall. By the end of ninety six, Vincent had developed a way to consistently seed clouds using aircraft to create both rain and snow, and shortly afterwards he was contacted and contracted by the US military to continue his cloud seeding research. Note that I'm leaving out some details here for the

sake of time. Now. In seven, Vincent worked with the U. S Military on Project Serrus to weaken hurricanes using cloud seeding, and their first attempt took place in October that year. Believe it or not, but the cloud seeding caused the hurricane to suddenly change direction, resulting in lots of damage

in the state of Georgia. Naturally, the people of Georgia were none too happy, and they filed a lawsuit, which was dismissed after the defendants found examples of hurricanes suddenly changing course in the past, specifically in nineteen o six, around the time Charles Hatfield was active in his own weather experiments. Funny that, in all seriousness, it seems the same happened in the United Kingdom with Project Cumulus in

the nineteen fifties. Many believe that a massive flood in nineteen fifty two was caused by the British military's cloud seeding operations, though this was also largely dismissed on the grounds that this region had flooded before. Now, the Georgia incident reportedly paused cloud seeding research in the United States

for a decade. If true, this may be a tacit admission by the US government that Project Sirrus may in fact have caused that horror came to change course in at the very least, it means they didn't know for sure, or just didn't want to be judged in the court of public opinion. Maybe both at the same time. However, it's equally likely that the US government continued to experiment

with cloud seeding in secret. And this is because of all the secret cloud seeding programs that were revealed shortly afterwards by inquisitive journalists, such as Operation Popeye in the nineteen sixties and seventies. Now, if you watched our video about the mysterious food plant disruptions, you'll know Operation Popeye involved creating severe storms over the Ho Chi Minh trail

used by the viet Cong during the Vietnam War. Operation Popeye was halted in nineteen seventy two after an article in The New York Times blew the lid on it. What's odd is that the US military claimed that they stopped the operation because their attempts at weather manipulation had failed. This is despite the fact that the US and forty seven other countries signed the Environmental Modification Convention, a few

years later prohibiting weather modification in warfare. Now, logically this suggested that Operation Popeye was much more effective than the U. S. Military was letting on, and this efficacy was effectively proven when countries such as Russia and China started actively modifying

their weather for domestic purposes in the nighties. Beijing modifying the weather to keep the opening ceremony dry during the two thousand and eight Olympics is probably the most famous example of weather modification in recent years, and there's really no shortage of examples from all around the world. Check

Wikipedia if you don't believe me. As of twenty seventeen, there were over fifty countries actively engaging in weather modification to quote disperse fog, enhanced rain and snowfall, and suppress hale, according to the World Meteorological Organization. Note that the sources for everything in this video are in the description. Only facts here, no fiction. Now, the prevalence of weather modification begs the question of just how effective the process actually is.

The answer ultimately depends on which kind of weather modification method we're talking about. The most common method is, of course, cloud seeding. There are actually many ways of seeding clouds, but they all follow the same principle that Vincent Schaffer discovered almost eighty years ago, and that's creating something in the cloud for the ice and rain to form around. This first way to see the cloud is to use some kind of salt, including silver iodide, potassium iodide, dry

ice as Vincent did, and even standard table salt. Under the right conditions, spraying these salts into a cloud will cause ice to form around the salt, which then results in rain. This is the basic explanation. The second way to see the cloud is to shoot it with lasers, and yes, this is obviously my preferred method. This approach to seeding clouds has been around since at least twenty ten, but there doesn't seem to be much public information about it.

This might have something to do with the fact that seeding clouds with lasers is apparently extremely effective. Case and Point. In a news report about laser cloud seeding, the newscaster and guest explain that this technology could allow governments to make it rain at the click of a button, and even control the trajectory and intensity of storms. The link will be in the description It's truly crazy stuff. Now, the third way to see the cloud is similarly sci fi,

and that's to use electricity. Zapping clouds with electricity using drones is actually how the United Arab Emirates creates artificial rain and as far as I understand, it's a brand new approach to clouds needing that was first tried last year in Dubai. The effectiveness of seeding clouds with electricity is also unclear, but the fact it continues to be used by the UA in lieu of the other available

approaches suggests that it's the most effective. For reference, the UAE is extremely wealthy, meaning that every other approach is in fact available to the country. That said, research by UA scientists suggests that standard cloud seeding, meaning with salts can quote enhanced rainfall by as much as thirty to thirty five pent in a clear atmosphere and buy up

to ten to fifteen percent in a turbid atmosphere. Note that these statistics are from way back in twenty fift what's reassuring is that these statistics are consistent with a cloud seeding study by the University of Wyoming, which lasted from two thousand and eight to two thousand and thirteen and found that cloud seeding can increase precipitation buy up to fifteen percent. Note that these statistics also apply to

salt based cloud seeding and are also arguably outdated. It's also important to point out that the effectiveness of cloud seeding almost always depends on pre existing weather conditions. For example, cloud seeding is believed to work much better on clouds that form over large bodies of water, such as oceans and seas. Conversely, the absence of clouds makes cloud seeding

next to impossible, because well, there are no clouds to seed. Luckily, for governments looking to modify the weather, however, there are many ways to create clouds artificially. I'll leave a link in the description to a video that shows you one effective method. Now, if you're feeling overwhelmed by all these weather modification revelations, you're in for a real treat, because cloud seeding isn't the only way that governments can modify

the weather. Some of you may have heard of the U government's High Frequency Active Auroral Research Program or HARP in Alaska, which lasted from to two thousand and fourteen. HARP was subsequently declassified and its facility was handed over to the University of Alaska for academic use in two

thousand and fifteen. If you've heard of HARP, it's because it is famous for being the go to example given by conspiracy theorists who claim the government can control the world's whether using harp's Ionospheric Research Instrument or I s I. This mostly has to do with a bunch of patents filed by physicist Bernard Eastland, which implied that harp's I see I could do everything from disrupting military communications to influencing the moods of individuals around the world, a sort

of directed energy weapon, if you will. While the HARP facility in the United States were shuttered in two thousand and fourteen, similar facilities continue to operate in other countries, notably in Norway and Russia. Some have taken this as evidence that some of the claims in Bernard's patents were true. Now, the science of HARP is outside the scope of this video, but I'll leave a link to an excellent video about

the experiment by Curious Droid. In the description, He's a fellow British YouTuber whose content helped with the creation of this video, So be sure to send in my regards and subscribe to his channel now. The next frontier for weather modification is space, specifically using satellites to beam large amounts of energy into storms to make them stronger or weaker, a job for Elon Musk, if ever there was one.

Not like you'd have the time, though, Speaking of billionaires, another outlandish way that we might soon modify the weather is by spraying dust into the atmosphere to block out the sun. This brilliant idea was brought to you by none other than Bill Gates, who is currently funding a company to do exactly that. There are also lots of new weather modification methods that are taking a bottom up approach.

One example is pumping air into the lower waters of seas and oceans to bring cold water up to the surface. The cool air this cold water creates can be used to weaken or even eliminate hurricanes. Pumping air into lower waters is already being done in countries like Norway to bring up salty water and prevent freezing around hydroelectric power

plants so they can continue operating through the winter. Another example of a novel bottom up approach is to spray salt water into the sky to reflect some of the sun's light back into space. There are actually concerns though, that this and other methods such as pumping air into lower waters, could actually cool the oceans too much and

cause other unwanted weather issues. In my opinion, the most promising weather modification method was proposed in a twenty thirteen TED talk by scientist Alan's Savery titled quote how to Green the World's deserts and Reverse Climate Change. It's quite possibly one of the most amazing videos you will ever watch,

and I'll leave a link in the description. In short, the world is slowly turning into a desert, and this trend will continue regardless of whether all the mainstream climate action targets are met, namely eliminating emissions and fossil fuels of all kinds. Note that deserts create lots of heat, which causes the kinds of extreme weather we've seen lately. Alan's solution is so simple that it's almost stupid. This is to guide animals to graze around the land without

interference the way they did historically. With this simple solution, Alan has managed to turn literal deserts into green and watery oases around the world. Just look at this comparison image. Now, if that wasn't incredible enough, Alan thinks this solution could solve climate change in a matter of years while simultaneously enriching developing countries through all the animal product production and exports.

The availability of meat in developing countries would also significantly improve nutrition as a cherry on top, all the emission reductions, limits on energy use, and other such policies would not be needed since all the additional greenery would absorb all the CEO two while simultaneously cooling the world. Seriously, watch that video and share it with your friends and family

while you're at it. Now, given all these facts, stats, and solutions, you might be wondering why weather modification is seldom discussed in the context of climate change, or even just extreme weather events like droughts, floods, and fires that

have recently been ravaging the planet. As far as I can tell, this is because governments admitting to widespread weather modification is likely to raise more questions than answers, namely why governments aren't using this technology to combat climate change or extreme weather events, especially revolutionary solutions like Alan's guided grazing.

To be clear, there have been some reports of countries using weather modification methods to address whether extremes, such as China, which tried to end its record breaking droughts with cloud seeding over the summer. What doesn't make sense, however, is that these countermeasures always seem to be less effective than the proactive ones. This is where a bit of science

based speculation comes in. As I mentioned earlier, forty eight countries signed the Environmental Modification Convention in the nine seventies to prevent the use of weather modification in warfare. As of two there are seventy eight countries which have joined the convention. Even so, that doesn't guarantee that these countries aren't still using weather modification as a form of warfare. It just may not be as avert as say, creating

abnorm William massive storms over Vietnam. Here's a great example to illustrate what I mean that I also mentioned in our food plant disruptions video. In the the Soviet Union used cloud seeding after the Chernobyl nuclear plant meltdown to ensure that radioactive rain fell on Belarus instead of Moscow. Now, riddle me this, did the Soviet Union use whether for

military purposes in this scenario? The answer is not that clear, and it would be hard to prove either way, because the Soviet Union could claim the rainfalls natural, whereas Belarus could claim it was not, assuming it even new at all. This is simply because WHETHER modification can't always be detected, especially with the newer types of technologies. Whether also isn't contained to a single country. It crosses borders and boundaries, and this means what happens within a country could easily

affect the country next door. This is why there is a lot of speculation in India that China is stealing India's rain by causing it to reign prematurely on the Chinese side of the mountain range that divides both countries. This wouldn't be surprising given that China is heavily testing weather modification in this region, including in the Pool. Now. You can sum up this speculation in a sentence from

an article about China's weather modification by futurism. Quote, if one country is able to control its own weather, it could, in theory, do so elsewhere. In other words, countries might be actively trying to manipulate each other's weather. Bringing up this technology could shed light on questionable practices by domestic and foreign governments, leading to very serious domestic and foreign conflicts.

This ties into the very real possibility that governments are manipulating their own weather to take more control of their own citizens. After all, you can control the weather, you can control the food supply, and that's the kind of power that the folks at the World Economic Forum are explicitly seeking. More about that using the link in the description anecdotes aside, The fact of the matter is that governments have the technology to make extreme weather events better

or worse, or rarer or more frequent. This is terrifying given how governments have been acting lately, and it's something that must therefore be part of any environmental discussions. So I'll leave you with this thought. Once upon a time, humans engaged in rituals to appease the gods to influence the weather. It looks like we're starting to see history repeat, except it's other humans with powerful technologies playing god, demanding

compliance in exchange for better weather. This may not be the case today, but mark my words, at the rate that whether modification technology is advancing, it will almost certainly be the case tomorrow, and in some places it probably is already be on the lookout and remember to question the weather and don't just complain about it like US

Brits do. Back in March, US President Joe Biden signed an executive Order about Cryptocurrency, which instructed all relevant government agencies to produce reports about crypto and how to regulate it. The deadline for these reports was earlier this month, and last week the White House put together a summary of these reports, as well as their regulatory recommendations. Today, I'm going to explain what the White House's Crypto Framework says in simple terms and tell you exactly what it could

mean for the crypto market. The document I'll be discussing today is titled quote fact sheet. White House releases first ever comprehensive Framework for Responsible Development of Digital Assets. It was published on the sixteen September, and I'll leave a link to the full text in the description if you're interested. Now, the White House's Crypto Framework begins with a juicy statistic, and that's that around sixteen percent of Americans hold crypto

as part of their personal portfolios. This is a few percentage points shy of the of Americans who have ever held crypto, according to research by NBC News. Respect to the Hoddlers. The authors go on to explain that crypto has the potential to quote reinforce US leadership in the global financial system. However, they caution that these potential benefits come with risks and cite terrors collapse in May as

an example, without naming any names. What's odd is the author's claim that terrorist collapse caused six hundred billion dollars of damage to the crypto market in the months that followed. This is highly debatable, as there were other macro factors that caused the crypto market to go lower, namely the

stock market, which was also crashing around that time. In any case, the authors touch on Biden's Executive Order about cryptocurrency from back in March and explain that all the relevant agencies have spent six months putting together their respective reports. The result is a series of policy recommendations related to

six areas of focus in the Executive Order. These are quote consumer and investor protection, promoting financial stability, countering illicit finance, US leadership in the global financial system, financial inclusion, and responsible innovation. The authors revealed that a total of nine reports were provided to the White House by US agencies. We summarized one of them last weekend, and you can find out what crazy things that report said using the

link in the description. Now, the authors also revealed that these nine reports quote reflect the input and expertise of diverse stakeholders across government, industry, academia, and civil society. Obviously, there are a lot of loaded terms here, and it certainly begs the question of exactly which personnel they consulted. What's particularly questionable is that these reports focus on quote,

helping cutting edge US firms find footholds in global markets. Now, I'm not sure who needs to hear this, but crypto isn't about private companies establishing global dominance. It's about competition between decentralized developers. Naturally. The authors also single out crypto mining as an area of concern and call for quote

common sense efficiency standards. I reckon what counts as common sense depends on who you ask, and as the saying goes, common sense is not that common If that isn't spooky enough, the authors say. The reports call on the Federal Reserve and the Treasury Department to accelerate the development of a central bank digital currency or CBDC. They even call for the creation of a quote inter Agency working group to

develop a digital dollar. This is more significant than you think, because it suggests that the Federal Reserve and Treasury Department could eventually become one and the same. In fact, some would say this is inevitable given the trend towards hyper centralization in the financial system. Spooky stuff, indeed. Now, the rest of the Crypto Framework gives a summary of the policy recommendations for the six areas of focus I mentioned earlier.

You'll recall I hope that one of these is quote consumer and investor protection, which has been used to justify all kinds of things in recent years. In this case, the authors go straight for the jugular quote digital assets pose meaningful risks for consumers, investors, and businesses. Not surprisingly, there is absolutely no mention of the rewards that come

with greater risks, nor the benefits of cryptocurrency. Instead, the author's focus on the negatives, including cryptos volatility and the lack of transparency around cryptocurrency. Interestingly, they cite a study by the Wall Street Journal from eighteen which found that a quarter of cryptocurrency I c o s had transparency issues. That's actually not as bad as I thought. In all, seriousness.

The authors take it one step too far when they claim that quote outright, fraud scams and theft in digital asset markets are on the rise. According to FBI statistics, reported monetary losses from digital assets scams were nearly six

higher in one than the year before. Now, there seems to be some sleight of hand going on here, because crypto price is were much higher in one than they were in As such, it's to be expected that the monetary losses from crypto scams would be much higher in Fiat terms while staying the same in terms of frequency. Very sneaky indeed. Unfortunately, the real facts and stats are not of much concern to the authors, and they reveal the steps the current administration will take to address consumer

and investor protection in cryptocurrency. First, it will instruct the Securities and Exchange Commission or SEC and the Commodities Futures Trading Commission or CFTC to quote aggressively pursue investigations and enforcement actions against crypto projects and companies. Looks like the

SEC is ahead of the curve on that one. Second, it will instruct the Consumer Financial Protection Bureau or CFPB and Federal Trade Commission or FTC to quote, monitor consumer complaints and to enforce against unfair, deceptive, or abusive practices. If the CFPB sounds familiar, that's because it's one of the many organizations that were created as part of the Dodd Frank Act in twenty For reference, the Dodd Frank Act was put together by Michael Barr in the aftermath

of the two thousand and eight financial crisis. As it so happens, Michael Barr is the current Vice Chair for Supervision at the FED. This is significant because this position was also created by the Dodd Frank Act. More about that and what it means for the crypto market using the link in the description. Now, the third step the current administration will take to protect consumers and investors will be to instruct various agencies to quote address current and

emergent risks in cryptocurrency. I couldn't help, but notice that the authors don't clarify what kinds of risks the administration is concerned about. Finally, the current administration will instruct the Financial Literacy Education Commission or FLECK to quote help consumers understand the risks involved. Call me crazy, but I don't think they'll be talking very much about the benefits of crypto.

It also reminds me of the International Monetary Fund or i MFS campaign to educate about that is, promote c b d c s and educate about a k A discredit cryptocurrency in countries around the world. What would we do without these unaccountable international organizations, eh Now. The second set of crypto policy recommendations relates to financial conclusion, and this is where the authors drop some more juicy statistics. Quote, roughly seven million Americans have no bank account another twenty

four million rely on costly non bank services. As a random fact, I first heard this statistic when listening to the testimony of Cryptoca see CEOs earlier this year, which we also summarized by the Way. Believe it or not, but around five percent of Americans are unbanked and another fourteen percent are underbanked, meaning they use non bank services for finance. Rather than leaning into these efficient non bank

services provided by the private sector. The author's focus on the fed's upcoming fed NOW Fast Payment service as the solution. Note that fast payment services are a precursor to CBDCs. According to the Bank for International Settlements or b I s NOW to the author's credit. They do admit that some cryptocurrencies can make financial services more accessible, but also note that there's still lots of work to be done

on that front. This is a valid point, but it again begs the question of which cryptocurrencies the authors are referring to, probably stable coins. Regardless, the current administration is clearly dead set on the fed now payment service. This is because it's the first step to addressing financial inclusion, which will be to quote encourage the adoption of the

fed now service in the U S economy. What's particularly scary is that this step includes using fed now payments quote in the context of distribution of disaster, emergency or other government to consumer payments. Note that taxation and emergency relief is how governments around the world will likely achieve the adoption of CBDCs, and because there can't be any competition to the CBDCs, the second step the administration will take is to instruct regulators to crack down on non

banking entities. This presumably includes cryptocurrency exchanges, as many of them offer services similar to banks. In addition, the administration will quote align global payments practices, regulations, and supervision protocols. This means that there will be no escape from these dystopian systems once they're implemented, or at least that's the idea. To ensure that these dystopian systems are adopted at all, the administration will instruct the National Science Foundation or NSF.

Plenty of acronyms in today's video, aren't there to research quote behavioral economics in the context of fast payments basically figure out how you can convince Americans to adopt the fed's dystopian technology. As a fun fact, the b i S estimates that between four and twelve percent of people will voluntarily adopt CBDCs in developed countries. The question then is how they'll convince those who will not voluntarily adopt CBDCs. Knowing governments, the answer will probably involve a lot of

force and financial censorship. Anyways. The third set of crypto policy recommendations relates to financial stability. Here, the authors highlight the fact that the crypto market and the existing financial system are becoming more intertwined. They specify that stable coins is where most of these connections are. On that note, I should explain why regulators aren't so concerned about stable coins. In short, it's because most stable coins are backed by

US government debt. If stable coins become too big and there is a run on their stable coin issuer, they could dump these treasuries assets on the open market. This is why it's a bit silly to use the collapse of Terror's US T stable coin as an example of how much damage crypto could do to the existing financial system. I suppose the authors don't want to reveal that centralized stable coins are a way of subsidizing US government spending.

What the authors do reveal is that the Financial Stability Oversight Council or f SOCK, will be publishing a report about the risk crypto pose it's to financial stability in October. This report will be more significant than you think, and that's for two reasons. First, the FSOCK was also created

by the Dodd Frank Act. If you watched our aforementioned video about Michael Barr, it really looks like he's eager to use his powers and the powers of these agencies to crack down on crypto when the next financial crisis comes around. This ties into the second reason why the fsck's upcoming report is so important, and that's because it will be released around the time the crypto market will likely be seeing its bear market lows. This would make it the perfect time for Michael and co. To exercise

their powers. More about that in the description now. The authors go on to reference the stable Coin Report put together by the President's Working Group on Financial Markets last year as a place for policymakers to start. We actually summarize that report too, and I recommend checking that video out sooner rather than later. Link is also in the description. Funnily enough, the current administration only identifies two steps it is planning to take to address the financial stability risks

supposedly posed by cryptocurrency. The first is quote, the Treasury will work with financial institutions to bolster their capacity to identify and mitigate cyber vulnerabilities. The second step is similarly strange, and that's to quote, identify, track, and analyze emerging strategic risks in cryptocurrencies. The fact that the authors couldn't identify any concrete financial stability risks caused by cryptocurrencies in these two steps suggests that there aren't any, at least not

yet now. The fourth set of crypto policy recommendations relate to advancing quote responsible innovation. The authors start with another statistic, and that's that around half of the most valuable tech companies in the world are based in the United States. This might have something to do with all the back door deals these tech companies have with U S intelligence agencies,

but hey, let's not go there. Ironically, the authors underscore the US government's role in facilitating technological innovation in the private sector. If you're wondering just how innovative the government can be, check out our recent video about whether modification link will be in the description of course, now fact short conspiracies aside, the authors jump straight to the steps that the administration will take to preserve the peculiar dynamic

between the public and private sectors. The first step will be to instruct the Office of Science and Technology Policy or o s t P to quote develop a digital assets research and development agenda. If you watched our aforementioned video about one of the White House's reports, you'll know that the os TP isn't all that scientific. Meanwhile, the aforementioned NSF will quote back social science and education research that develops methods of informing, educating, and training diverse groups

of stakeholders. Sounds good on the surface, but there always seems to be something bad lurking down below with these crypto initiatives. Now, the second step will be to instruct the Treasury Department and other financial regulators to quote provide innovative u S firms developing new financial technologies with regulatory guidance,

best practices, sharing, and technical assistance. This could actually be a very good thing if done right, because institutional investors have been itching for the regulatory clarity they need to invest in cryptocurrency. The regulatory uncertainty caused by ethereums transition to proof of steak is particularly concerning to both retail

and institutions alike. The third step will be to instruct various environmental regulators to you guessed it, quote track digital assets environmental impacts, develop performance standards as appropriate, and provide local authorities with the tools, resources, and expertise to mitigate environmental harms. The author's add that quote, opportunities exist to align the development of digital assets with transitioning to a

net zero emissions economy and improving environmental justice. This makes me wonder if they really will ban proof of work

and whether they'll use some unscientific justification to do so. Now, the fourth and final step is interesting as it involves quote establishing a standing forum to convene federal agencies, industry, academics, and civil society to exchange knowledge and ideas that could inform federal regulation standards, coordinating activities, technical assistance, and research support.

If the getting of all hands on deck to address cryptocurrency is not a sign that the government are threatened by crypto adoption, I don't know what is any who. The fifth set of crypto policy recommendations relate to the status of the United States as a leader of the status quo of global finance, as well as the country's financial competitiveness. Incredibly, the author's commenced by saying the quiet part out loud. Quote. Today, global standard setting bodies are

establishing policies, guidance, and regulatory recommendations for digital assets. The United States is working actively with its partners to set out these policies in line with our goals. In other words, unelected international organizations such as the Financial Action Task Force or fat F ACT in accordance with the interests of

the United States. What's even more telling is that the authors explained that the United States has a quote valuable opportunity to partner with countries still developing their digital asset ecosystems. In other words, the US is positioned to ensure that its dominance of the global financial system continues. To ensure

all of the above, the administration will take the following steps. First, it will leverage the power of international organizations like the fat F to ensure quote US values find their way into cryptocurrency. Note this is code for financial control and financial surveillance, not freedom and liberty. Second, the Administration will instruct various government agencies to partner with similar government agencies

around the world. Oddly enough, this step does not include any mention of cryptocurrency, so maybe it's just a way of sneaking in some more global governance stuff. Third, the Administration will help developing countries develop their digital asset infrastructure. If the i m f's help is anything to go by, this aid will come with lots of strings attached. Fourth, the Administration will quote help cutting edge US financial technology and digital asset firms find a foothold in global markets

for their products. This step also doesn't mention crypto, but I have a feeling this is a reference to regulated stable coin issuers like Circle. If you missed the memo. Circle has started releasing stable coins for other fiat currencies, notably the euro. I reckon it would be in the interest of the United States for Circle to provide its digital currency infrastructure two countries in Europe. It's certainly in

the interests of black Rock, which backs Circle. More about black Rock in the description anyhow, The sixth set of policy recommendations relate to the favorite topic of anti crypto critics, and that's illicit activity in cryptocurrency. The authors begin by revealing that the United States has been the entity pushing

for k y C around the world. The authors then say something extremely concerning, and that's quote, while our efforts have strengthened the US financial system, digital assets, some of which are sud mus and can be transferred without a financial intermediary, have been exploited by bad actors. If you don't understand why this is so concerning, consider that every single cryptocurrency is pseudonymous, and that every single cryptocurrency can

be transferred without a financial intermediary. They're not talking about privacy coins here, They're talking about all cryptos. This rhetoric is consistent with the fat f's endgame of killing crypto by labeling any crypto transaction or activity that doesn't involve a regulated intermediary as high risk, and over time, the fat F will pressure countries to cease providing services to

individuals and institutions who are high risk. As expected, the authors go on to give examples of crypto being used by bad actors for illicit purposes, and I couldn't help but notice that they didn't provide any statistics as concrete evidence. That's probably because they know that only zero point one of all crypto transactions are related to illicit activity. For context, between two and five percent of all THEAT transactions are

related to illicit activity. This is despite all the extensive k y C and a m L that's been enforced around the world by the fat F. As a matter of fact, it seems that the fat f's so called recommendations have done next to nothing to reduce illicit finance over the last thirty years. All they've done is create a multibillion dollar industry of compliance companies and justified lots

of government overreach. More about all that in the description now, when it comes to the steps the current US administration will take to combat illicit activity in cryptocurrency. The first will be to call on US politicians to expand the

Bank Secrecy Act to all of crypto. The authors explicitly stayed that this coverage will include Defy and n f t s. This means that every crypto transaction worth more than ten thousand U S dollars would have to be reported to the authorities, including peer to peer crypto transactions, which will recall the authorities want to get rid of

case and point. The administration will also push politicians to quote raise the penalties for unlicensed money transmitting, which presumably means going after Defy protocols and possibly even crypto wallets. It will also push politicians to let the Department of Justice quote prosecute digital asset crimes in any jurisdiction where a victim of those crimes is found. To my understanding, this means the U. S Government could go after crypto

crimes anywhere in the world now. The second step the administration will take is to instruct the Treasury Department to publish two reports about the illicit finance risks of Defy and n f T s. These reports will be released by the end of February and by July next year, respectively. Will be sure to cover those when they come out. Now. The third step the administration will take is to quote continue to expose and disrupt illicit actors and address the

abuse of digital assets. The details of this step suggest we will see more sanctions against crypto projects and protocols like Tornado Cash. The fourth step the administration will take is to work with the private sector to make sure it understands the illicit financing risks of cryptocurrency. I suspect this will include labeling certain crypto activities as high risk,

as per the fat f's game plan. I also couldn't help but notice that the authors revealed that quote the CFPB, an independent agency, also voluntarily provided information to the Administration as too risks arising from digital assets. This is suspicious, as you'll recall that the CFPB was created by the Dodd Frank Act, which was written by an individual who seems to be out to kill cryptocurrency. Watch out now. The final part of the White House's crypto policy recommendations

relate to a digital dollar CBDC. It seems that this was snuck in as well, since it wasn't exactly emphasized at the beginning. Of the fact sheet. The authors start by talking about all the benefits that are digital dollar would bring benefits that could just as easily be achieved by an existing non bank entity or cryptocurrency. These include financial inclusion, cross border payments, you know, the usual talking points.

It's towards the end of the first paragraph where the authors reveal the real reason why the US government wants a digital dollar, and that's because it could quote help preserve US global financial leadership and support the effectiveness of sanctions, as the recent sanctions against Russia's central bank shown. However, these two goals seem to be mutually exclusive. No same country would adopt a digital dollar if it meant the US government could effectively turn off its economy at the

flick of a switch. This degree of power would be possible if the us D maintains its reserve currency status in a digital form. Hence why the two goals are mutually exclusive. Either the us D remains neutral to be the world's reserve currency, or it is weaponized at the expense of this status. The more you know now, the authors reveal that quote, the Administration has developed policy objectives for a US CBDC system which reflect the federal government's

priorities for a potential US CBDC. Put differently, the ball is already rolling towards the creation of a digital dollar. The authors reiterate that the Treasury Department will work hand in hand with the Federal Reserve to develop a digital dollar, again for shadowing the possibility of these two entities merging as many have predicted. And of course, there was no

mention of all the down sides of a CBDC. If you've watched any of our videos about CBDCs, you'll know that they will give governments the power to decide how you spend, where you spend, and what you spend your money on, and even how much you can save. That's just on the individual level. At the economic level, CBDCs will make borrowing extremely expensive due to their effects on

bank lending and profitability. Good luck getting a mortgage. It will also mean that the stock market itself will be manipulated. Think Robin Hood blocking trades during the game Stop Saga, but on steroids. So this brings me to the big question, and that's what the White House's crypto framework means. For the crypto market to be blunt. It's not good, it's clear that the current administration wants to crush cryptocurrency. If you've seen any of our summaries of crypto related testimonies,

this should not come as a surprise. Logically, then it means that the success of the crypto policy recommendations laid out in the framework ultimately depends on what happens during the next election cycles in the United States. It looks like pro crypto politicians will gain ground in the upcoming mid terms, but at this point it's anyone's guest as to what the outcome of the four election will be.

That's going to be the more significant election, since it's around the time the next crypto bull run should come. Take note. If pro crypto politicians do gain ground in the upcoming midterms, then I reckon most of these anti crypto policies will never be pursued. Then again, so many of them are being undertaken by unelected officials that have been appointed by anti crypto politicians, so it's uncertain. One thing is for sure, however, and that's that a wave

of regulation is coming to the crypto industry. Some of it will be reasonable, and we could see large institutional inflows as a result. It's the unreasonable regulation that we must be on the lookout for. This includes labeling of all crypto related activities as high risk as a way

of choking off and eventually killing the industry. Given that the United States is behind the international organizations engaging in this kind of guerrilla regulation, American voters might be the ones who decide what comes next for crypto at the end of the day. As such, I strongly suggest that any American viewers inform themselves about pro crypto candidates in

their areas. You'll notice that pro crypto politicians sit on both sides of the aisle, so you should be able to find one you can support, regardless of your political stripes. I'll leave a link to coin bases crypto politician tool in the description you need it, and I'll leave you with this thought. The crypto world is counting on you to make sure financial freedom continues. Financial freedom is required for everything else. Last I checked, freedom is an American value,

so let's see it ring. Thank you so much for listening to the Coin Bureau podcast. If you'd like to learn more about cryptocurrency, you can visit our YouTube channel at YouTube dot com forward slash coin Bureau. You can also go to coin bureau dot com for loads more information about all things crypto. You can follow me on Twitter at at coin bureau or one word, and I'm also active on TikTok and Instagram too