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Whenever there is a war between two parties or countries, you will notice that the poor masses from both countries will be at the receiving end. Just like the old English saying:
When two elephants are fighting, the grass suffers.
In this war, the world powers will play their roles as it affects them and the diplomatic ties they have with the two warring countries. The number of lives lost during this war does not and can never be equated with any form of peace accord if and when it is reached. War has never benefitted anybody, both the victor and the vanquished suffer great losses from their sides. In all of these, we still see countries and people clamouring for war in both their actions and speeches and this leaves me to ponder this question; have we not learnt from the past? If truly we have learnt from the past, how then do we watch the mistakes of the past that led to war to repeat itself? I believe we should know better than to make a mistake twice. I am not here to talk about war rather I decided to draw our attention to what is happening to the cryptocurrency sphere and its relationship with war which I believe is between the USA and CHINA.
For me to do justice to this article, I will take us back to our history books. As one Igbo (Nigerian) adage will say;
One who does not know where the rain started beating him will never know where it will stop.
The world we live in has been existence through the actions of the past whether we like it or not, history will always repeat itself consciously or unconsciously. The challenge we have is our failure to understand this natural law of things have cost us more damages and loss but the earlier we understand this fact, the better for us. Kindly join me as we look at the past and its relationship to the present (the Economic war between China and the USA).
History will always remember the Roman Empire and the part they played in the rise of world politics, but it does not mean that there have been a couple of empires that have risen and fallen before the rise of the Roman Empire. History records that the first empire to be recorded were the Akkadian Empire which emanated from ancient Mesopotamia. This empire lasted for about 180 years in 2154 BCE. This earliest empire of the world was toppled by the Assyrian Empire during the 605 BCE and this second empire lasted for about 1,420 years. Assyria is parts of modern-day Iraq, Turkey, Syria and Iran. I believe during the reign of the Assyrian Empire, they would have thought that their empire was going to last forever because of the duration it lasted but as with all empires that have ever risen, they were toppled by the Babylonian Empire whose reign lasted for about 300 years and ended in 1595 BCE. The Hittite Empire took over from them and lasted for 422 years from 1600 BCE – 1178 BCE. From history, we could see that empires rose and fell not because they wanted to fall but because it is a natural phenomenon for empires to rise and fall.
I would not go into the systemic outline of all the empires that have come and gone but I will point out those facts that make a certain people or region lords above others. Empire can be described as the control of a lesser political entity, nation or group of people by a political entity of higher power. For instance, in our world today the USA is said to be the reigning empire of the world and they can do this by the control they have on the economic system of the world.
What is the connection between Empire and Economy?
An empire cannot stand without having a great hold on the economic viability of the world or the region it covers. In the world today, the stock market of the world cannot have a smooth flow without talking about the US dollars and their pairs. This is witnessed in our families also. When someone becomes the provider and breadwinner of the family aside from the father or the mother, this person becomes like a lord even without knowing it. What this means is that anyone who controls your economy controls everything about you with or without your consent. I guess by now you would understand why I said that the FUD cryptocurrency is facing is nothing but an economic war between China and the USA.
Some days ago, the government of China began a crackdown on crypto miners in a bid to reduce the emission of carbon which they said has become a threat to humanity. This was what they told us but when one looks at the crackdown and the true intent of the Chinese government, one will understand that there is an under tune which talks about the plan for them to topple the USA and become the new Empire of the world. I make bold to say that what the Chinese government has presented as an excuse for them to close up every crypto mining entity within and around China is nothing but a fallacy. If the Chinese government meant well for the world as they said, how come they want to have a central cryptocurrency that will be used all around China and in extension the whole world. Are they not going to be mining this cryptocurrency like every other crypto out there? What will then happen with the emissions that will come out of the mining process?
By the time we answer these questions, we would understand that the crackdown on cryptocurrency by the Chinese government is nothing but an economic war between the USA and China. This war will certainly come to an end when the Chinese government would have succeeded in pushing their cryptocurrency in the market but one thing is certain, their plan will not happen the way they wanted because the cryptocurrency sphere is much decentralized and cannot be controlled by China or any other country or individual. Empires will rise but one truth about them all is that they will fall at the right time.
Quick advice: do not allow this FUD caused by China to push you into selling off your assets rather buy the dip and accumulate as much as you can because the market will certainly become bullish sooner than later.
This is not financial advice, do your research before buying any project.