Bannon: Blowing up banks with cryptos

- Steve Bannon, former Chief Advisor to President Trump, tried to blow up the power relations in Washington and the US through the White House. Now he puts his cards on crypto coins.

According to the New York Times, he wants to come up with his own digital currency, with which Trump's supporters can compete with the bank-elite.

At a meeting of academics at Harvard University this spring, Bannon alluded to the arrival of the 'deplorable coin.' That name is a nod to Hillary Clinton's derogatory description of Trump's supporters as 'a basket of deplorables. '

Since then, that term has been used for 'deplorable' as a nickname that Trump fans proudly throw the Democrats over. They have ignored the voters for years arrogantly.

Bannon, for years foreman of the news site Breitbart News, counts as the conscience of the right flank of American conservatives. He was an investment banker at Goldman Sachs.

The American got teased ten months ago with Trump and his White House staff, but he has supported the president since his departure in interviews.

As Donald Trump has turned politics upside down in Washington, Breitbart expects much of a further disruption of the positions of Wall Street bankers according to the New York Times. He has put money into bitcoins himself.

If Americans switch to cryptocurrencies, and can ignore the dollar and banking products, these bankers will be put in their shirts, Bannon thinks. The strategist of the right wing did not want to give details of his plans yet.

Bannon must first pass supervisors. American watchdogs have turned against crypto coins so far. Bitcoin is seen as an air bubble. For years, it was used for money laundering of criminals.

However, two large stock exchanges are now selling futures on future purchases and sales of crypto coins. The large investors such as pension funds can invest in them through the supervised stock exchanges.

According to the New York Times, Bannon also held discussions with major investors in cryptocurrencies and hedge funds. This was the building of so-called ico's, the crowd funding through the issuance of crypto coins in exchange for money, via its investment company, Bannon \u0026 amp; Company. Bannon himself was specifically positive about the bitcoin.

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