Bitcoin Vs The People’s Ledger

Rumblings from the belly of the Washington beast are being heard in the bitcoin world. President Joe Biden has generated tremendous controversy by nominating Saule Omarova to head the Office of the Comptroller of the Currency (OCC).

Brian Brooks showed in 2020 how the OCC can be a powerful force on the regulated side of bitcoin, so it’s worth understanding the dispute around Omarova, and what her views are. As with other regulators, she can not stop bitcoin; however she could throw some painful roadblocks along the way.

The 2020s are shaping up to be a contest of ideas. The petrodollar system is fraying, so there is active discussion about what comes next. Bitcoiners are working hard to present a vision of a free and open monetary network, but entrenched elites are also generating ideas. It makes sense to go into the “heart of darkness” and understand these ideas, in order to better present a contrasting, more compelling vision in the coming debates.

Personal Background

Omarova has an impressive life story. Born in a small village in Kazakhstan under Soviet rule, she was dedicated to academics, and won a superior honor for someone from “the sticks” – a Lenin scholarship to Moscow State University. Her thesis was on “Karl Marx’s Economic Analysis And The Theory Of Revolution In Das Kapital.”

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