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OPINION
The greatest threat to the security and future prosperity of our nation may not lie in the next battlefield but in the vulnerabilities of our financial system — and our adversaries know it.
For years, experts like Gordon G. Chang have warned of China’s ambitions for global domination. Yet, we have allowed this geopolitical rival to amass significant leverage over us, including holding nearly $1 trillion of U.S. debt.
It’s like a modern-day "Hatfields and McCoys," with the Hatfields funding the McCoys’ spending spree. It doesn’t take a financial genius to see the problem: Why should a nation’s greatest adversary hold the purse strings to its future?
China’s stranglehold on U.S. debt leaves our nation exposed to unprecedented risks.
The day China decides to stop lending — or worse, becomes a net seller of U.S. Treasuries — our financial system could face catastrophic destabilization.
Such a move, akin to a financial "black swan," could ignite a domino effect: skyrocketing interest rates, bank failures, and civil unrest.
And while China’s strategy may seem like a slow burn, the CCP is always prepared to turn up the heat if it serves their ambitions.
But there is a way to protect ourselves.
By equipping every American with access to a decentralized cryptocurrency system, we can mitigate this threat and ensure financial stability even in the face of an adversary’s worst intentions. Cryptocurrency is no longer a speculative asset or a trendy innovation — it's a matter of national security.
Why Crypto Is the Answer
A government-backed cryptocurrency system can address vulnerabilities while modernizing the financial landscape.
Unlike traditional banking systems, cryptocurrencies operate on decentralized, transparent blockchains, making them impervious to manipulation by foreign actors.
A national digital currency would enhance our financial efficiency by enabling near-instantaneous, low-cost transactions while reducing dependency on debt financing from adversarial nations.
Moreover, a cryptocurrency-based system would empower individuals to bypass disruptions in traditional banking. During crises — whether caused by foreign interference, natural disasters, or economic collapse — Americans would have immediate access to a secure, redundant currency for necessities like food, transportation, and medical care.
Unlike gold, which is cumbersome and impractical in modern commerce, digital currencies can be seamlessly used at major retailers and service providers.
Cryptocurrency wallets would serve as a safety net for every American, removing the threat of financial paralysis.
Education Is the Foundation of Crypto Adoption
Mass adoption of cryptocurrency can't happen without widespread education.
Many Americans remain wary of cryptocurrency, viewing it as too complicated or speculative. This perception must change, and the federal government has a critical role to play in facilitating this transition.
We propose a nationwide education and awareness campaign akin to public initiatives for Medicare, Medicaid, and Obamacare.
The U.S. Treasury, Federal Reserve, and national security agencies should collaborate to create clear, accessible content explaining why cryptocurrency adoption is essential.
Through public service announcements, social media campaigns, and community outreach programs, the government can demystify crypto and emphasize its role as a vital tool for economic security.
Local resources, such as libraries, community centers, and telehealth-style programs, can provide hands-on assistance for those unfamiliar with digital wallets.
Seniors and underbanked populations should receive targeted support to ensure that no American is left behind.
The government could also partner with private-sector crypto wallet providers, certifying a range of secure, user-friendly options for public use.
Incentives for Adoption
Adoption won’t just require education — it will require tangible incentives.
The government should offer an initial deposit, such as $50 or $100 in cryptocurrency, to citizens who successfully register for an approved digital wallet. Additional "airdrop" bonuses or rewards for continued engagement with cryptocurrency systems could encourage long-term usage and literacy.
By making these wallets accessible and rewarding to use, we can quickly increase adoption rates. Currently, only about 15% of Americans have cryptocurrency wallets.
That leaves 85% of the population unprepared for financial emergencies or disruptions.
Our goal must be critical mass adoption, ensuring that every American has a backup currency ready when it’s needed most.
Crypto Can Shield Against Global Threats
Cryptocurrency adoption is not just about individual financial security — it’s about protecting the entire nation.
China’s leverage over our financial system stems from their ability to destabilize the U.S. dollar and our capital markets by selling off their massive holdings of U.S. Treasuries.
Such a move would not only erode confidence in the dollar but could lead to cascading bank failures and economic chaos.
By reducing dependency on centralized financial systems and integrating decentralized cryptocurrency into our economy, we can neutralize this threat.
With every American equipped with a digital wallet and prepared for potential disruptions, adversaries like China lose a powerful weapon in their arsenal.
Cryptocurrency also offers strategic advantages in the global economic arena.
A U.S.-backed digital currency would strengthen the dollar’s position as the world’s reserve currency and counter the rise of rival systems like China’s digital Yuan.
It would demonstrate our commitment to financial innovation and resilience, ensuring that America remains a leader on the world stage.
The Road Ahead
The transition to cryptocurrency will not be without challenges.
It will require bipartisan support, substantial investment, and a willingness to embrace new technology.
But the alternative — continuing to rely on an outdated financial system vulnerable to foreign manipulation — is no longer an option.
The calm before the storm should not lull us into complacency.
History shows that black swan events, though rare, are often predictable in hindsight.
The threat of China exploiting its financial leverage is not just possible — it’s probable.
But we have the tools to prepare and protect ourselves.
A robust cryptocurrency system, supported by widespread education and government incentives, can ensure that every American is equipped to weather whatever storm may come.
This is not a matter of speculation or vanity.
It's a matter of national security.
The time to act is now.
John Tabacco is the on-air host of 'Wise Guys with John Tabacco," Saturdays at 10pm ET, on Newsmax.
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