Ex-Trump aide Steve Bannon believes cryptocurrencies will bring ‘true freedom’

Steve Bannon

Speaking at an event in Zurich as part of a European speaking tour, former aide to President Donald Trump Steve Bannon has come out in support of the liberating potential of cryptocurrencies and the impact of blockchain technology.

During an address, Bannon described cryptocurrency as the ‘very heart’ of a populist movement in Switzerland, elaborating that digital currencies might be the best way to break the stranglehold of ‘central government’:

“Central banks are in the business of debasing your currency. Central governments are in the business of debasing your citizenship. The central technology conglomerates are in the business of debasing your own personal sovereignty and your own personal data.”

The former member of the National Security Council went on criticise ‘financial elites’ – a term the aide frequently made use of during his tenure under Trump.

“We take control of the central banks away. That will give us the power again…Once you take control of your currency, once you take control of your data, once you take control of your citizenship, that’s when you’re going to have true freedom.”

Bannon went on to add that the best way to “break” a globalized ‘culture of oppression’ is to leverage populist, nationalist movements.

During his address, Bannon received standing ovation from his European audience.

Closer to home

While Bannon might be more interested in the societal impact of blockchain technology and cryptocurrencies, US President Donald Trump’s administration has reportedly taken a keen interest in both new paradigms.

Answering a reporter’s query during a question and answer session, US Press Secretary Sarah Huckabee Sanders confirmed that US Homeland Security is monitoring the use of digital currencies.

Late last year, US President Donald Trump has authorized a new $700 billion USD military spending bill that mandates a new study into the blockchain.

The bill elaborates that the US Department of Defense is authorized to investigate¬†“potential offensive and defensive cyber applications of blockchain technology and other distributed database technologies”, and comes as part of the¬†Modernizing Government Technology Act (MGT).

Have your say!

What are your thoughts on Bannon’s comments? Could they be seen as divisive, or as a rallying cry for cryptocurrency communities? Be sure to let us know your opinion on Twitter – join the conversation @coininsidercom!

Related Articles

Expansion: Coinbase will be launching in the Netherlands

As part of its global expansion, Coinbase has announced that it has been granted regulatory approval from the Netherlands' national bank.

Is Bitcoin better than retail estate as an investment?

According to MicroStrategy CEO Michael Saylor, Bitcoin presents a much better long-term asset than property.

Ethereum Merge proves a more efficient crypto industry

While Ethereum Merge might be cutting down on energy consumption, the chair of the US CFTC argues the industry still needs to be doing more.

The Russian Prime Minister urges crypto regulation

The Russian Prime Minister has instructed the government to regulate the cryptocurrency space by the end of the year.

See All