Posted Oct 4, 2013 by Martin Armstrong
U.S. agents have shut down what became known as the Silk Road Bitcoin Site where hackers and drug dealers sold their illegal wares using Bitcoins, and arrested founder Ross William Ulbricht this week on charges of money laundering, conspiracy to commit drug trafficking and other crimes.
The government is after Bitcoin and focus on concerns about criminal activity to justify taking down what they see as avoiding taxes. In August, New York regulators subpoenaed 22 companies active in the Bitcoin economy, including well-known venture-capital firms like Google Ventures and Andreessen Horowitz, seeking to uncover possible illegality.
I have stated before. I do not see where the government will sit on its hands when the G20 is already agreeing to hunting down money everywhere. They think if they can collect taxes, then they will retain power. That will fail. Nonetheless, we are in the age of Massive Deflation as government eats their own to sustain their own power.