Can Bitcoin Come to the Rescue of French ‘Yellow Vest’ Revolution

By Prashant Jha

France is currently experiencing one of the worst civil uprising in 50 years, thanks to poorly executed ‘clean energy’ policy by the president Emmanuel Macron. The rise in fuel prices has triggered the lower-middle class especially consisting of workers who struggle to provide essential amenities to their family. The fuel rise has been taken back, but the Yellow Vest protest does not seem to die down, as many believe the president works for the rich.

Amid all these turmoils Max Keiser, financial pundit, and crypto-currency advocate has come into the center of a new controversy through his tweets. Max in his tweet has urged the people of Yellow Vest protest group to convert their bank deposits to bitcoin. Max who is known as the adamant supporter of the digital currency does not mince words while expressing his viewpoint. One of his tweets posted on Monday read,

“If every French person converted 20% of their bank deposits into #Bitcoin, French banks would collapse and a lot of bloodsheds could be avoided. #jilletsjaunes,”

Why Keiser Thinks Bitcoin is the Key

Keiser in his tweets claims that his research shows that a 20% deposit and withdrawal would trigger a chain reaction, which would eventually result in a severe French bank crisis. The chain reaction would then increase the bitcoin prices substantially, and protesters can use the extra incentives to move more money out of the bank and into the bitcoin.

Keiser also believes the current unrest in France and ongoing political battles over the Brexit is a clear indication of rejection of the Central banking system throughout the world. The crypto-pundit also suggested that Global Insurrection Against Banker Occupation (GIABO) is slowly gaining the pace in overthrowing the crony capitalists and governments helping them.

“Brits want sovereignty from global banks. French want sovereignty from global banks. The whole world wants sovereignty from global banks. Only #Bitcoin offers sovereignty. Support the global exit from banker occupation. Buy Bitcoin, Crash Banks,” Keiser tweeted.

One of the users asked Keiser if the state sees the people going out of their way to crash the state-owned system, would they not retort to become seriously aggressive and draconian in response? Keiser responded with, “Of course they will. And they’ll lose. Some will perish, but the cause of freedom must be won.”

Final Thoughts

The current state of France is not just about the central banks playing to their monopoly, but more of a political setback playing at the hands of few rich. The fuel tax which was the underlying cause for the unrest has already been taken back. Many experts think that the decision to roll-back has come too little too late. People are asking for the president to step down.

Whether Bitcoin is the answer or not only time would tell, but suggestions for taking down the economy of a nation to fuel the prices are rhetoric. The French government has already taken measures to incorporate the blockchain and crypto in its banking domain. French crypto-enthusiast MPs have already asked for 500 Million euros worth of investment in research and implementation. So, going rogue when it is not even necessary sounds illogical and far-fetched.