Opportunity.
Interesting paper
https://www.minneapolisfed.org/research ... ebtholdersMy interpretation is that its a proposal for the US to instate taxes on alternative currencies - such as Bitcoin (and presumably gold), as otherwise they limit the ability for the state to inflate (debasing currency is a form of taxation).
In 1967 Alan Greenspan wrote:
The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.... The law of supply and demand is not to be conned. As the supply of money increases relative to the supply of tangible assets in the economy, prices must eventually rise. Thus the earnings saved by the productive members of the society lose value in terms of goods . When the economy's books are finally balanced, one finds that this loss in value represents the goods purchased by the government for welfare or other purposes.... In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold... The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirade against gold. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.
Rather than remaining aligned to US, the dollar and its regulatory requirements/reporting, enabling it to export inflation onto others such as ourselves, perhaps the UK would be better placed by diversifying away from that, reducing regulation to promote large US stocks to re-domicile here rather than in the US, lowering/eliminating regulation and taxation on the likes of bitcoin/gold. Become more of a safe haven away from debasement/confiscation by the US/EU. The place for wealth to flow to. Keeping wealth within this country should be a matter of national security/priority, sadly this present government doesn't see/get that. The UK was the primary global hub for law/accounting/finance, hence many global laws are written in English. Reinstating/growth of that could yield potentially massive benefits/rewards and the recent climate is well positioned for the UK to lay down those foundations.
Sadly the present government are severely lacking and are more inclined to yield a net liability/loss rather than grasping the opportunity.