A TRULY desperate British ruling class is capable of any dodgy manoeuvre to try and avoid the UK state bankruptcy that is inexorably approaching!
The latest Daily Telegraph solution to the crisis is a really desperate measure.
The Home Office is now working with the capitalist state’s police forces on a very shady manoeuvre designed to sell off a hoard of seized cryptocurrency currently valued at £5 billion.
Following in the footsteps of PM Keir Starmer, the Home Office is now said to be ‘working with police forces to sell off a hoard of seized cryptocurrency’.
The master plan, a product of sheer desperation, is that the Home Office is working with various police forces to sell this cryptocurrency, using an official crypto storage system, that will be able to handle sales of bitcoin and other digital currencies.
The bosses are seeking to gamble their way out of the crisis using millions of bitcoin of very dubious value. This gamble comes in the wake of economists predictions that the Chancellor will have to find as much as £20bn in the autumn as she struggles to balance the books in the face of much higher borrowing costs and very much weaker growth.
In fact, cryptocurrency sales are currently handled by law enforcement agencies, with the Treasury said to be monitoring the situation.
The total amount of cryptocurrency held by the police is unknown. However, a single raid in 2018 recovered 61,000 Bitcoin, according to The Daily Telegraph newspaper, from the proceeds of a Chinese ponzi scheme being stashed in the UK.
However, lawmakers in the US passed the country’s first major national cryptocurrency legislation known as the ‘Genius Act’ on Friday.
Nigel Farage has already called for Britain to establish a National Bitcoin Reserve.
Already cryptocurrencies are now being used increasingly to avoid financial controls and carry out vast investment scams, making them a key target for the police, if they really wished to stop criminal activity.
Last week, the US Marshalls service said that it had more than $3.4bn in seized bitcoin.
The Trump administration is said to be seeking to create a strategic reserve using the cryptocurrencies.
Nigel Farage the leader of the Reform UK Party speaking in Las Vegas in May said that he would establish a UK Bitcoin reserve if he became the UK’s Prime Minister as part of a cryptocurrency revolution.
Even Labour has rejected this plan, saying that Bitcoin is far too flimsy and too volatile to store sovereign funds in!
The essence of the issue is that the capitalist system is heading rapidly towards its greatest ever economic and political catastrophe.
All the major imperialist powers, including the British, are in reality preparing the weaponry that they intend to use to wage World War Three, so that they can turn the whole planet into a massive radioactive dump, totally unlivable for humanity.
In fact, there is only one way forward – this is to build up as rapidly as is necessary sections of the International Committee of the Fourth International to lead the world socialist revolution to its complete victory, bringing in a socialist worldwide planned economy where production takes place to satisfy people’s needs.
Already the people of the Middle East, led by Hamas, have shown the way forward to mobilise the masses to smash imperialism.
We must now go forward to the victory of the world socialist revolution.
There is not a moment to lose!
