Alternative Visions - Bitcoin & Cryptos Financial Bubble Bust + Biden Infrastructure Plan Debates

 Dr. Rasmus focuses on the recent 40% collapse in Bitcoin crypto currency deflation. What were the forces driving up Bitcoin & cryptos prices in 2020 and how have they changed. Why Bitcoin prices are now collapsing, and will they continue. What is the nature of speculative financial asset investing and the rise of the new global finance capital elite in recent decades. Rasmus discusses the forces deflating Bitcoin demand: China’s new digital currency, US Federal Reserve plans to regulate, tax, and eventually issue its own digital currency, etc. What’s behind China’s announcing its own DC (including efforts to bypass the US dominated SWIFT international payments system and the $US as primary global trading currency)—and thus avoid US economic imperialism key levers of economic control. Why the US Treasury is now moving to regulate and tax cryptos. The show concludes with a briefer assessment of debates on the Biden Infrastructure bill, and why the negotiations now focus on providing $400B in subsidies to auto and semiconductor big corporations first as Biden moves toward bipartisan support for his proposed Infrastructure legislation. The risks to the rests of the bill targeting support for workers and communities.