Every 30 to 60 days, this website awards a gold star to a member of congress for doing or saying something that helps the American People. This gold star award goes to Representative Michael San Nicolas. Mr. San Nicolas is an American Citizen that was born on the Island of Guam.
On Wednesday, July 17, 2019, Mr. San Nicolas was a member of the U.S. House Banking committee that was gathering information about another proposed form of a digital currency or a cryptocurrency. The gentleman testifying before the committee was somehow connected to Facebook. Evidently Facebook now wants to deal in a new digital currency.
Representative San Nicolas asked the individual testifying before the committee a number of extremely important questions. The representative did his homework very well. Unfortunately the answers rendered were far less sensible than the questions asked. Representative San Nicolas finally said: ” I simply do not believe you. ” Those were exactly my thoughts and I congratulate the Representative for his thorough questioning of the Facebook representative.
Readers should read an article published on this website on January 27, 2018. The article is titled: ” Bitcoin: The Greatest Scam In The Universe. ” Simply type the word bitcoin into the search box on the home page and the article will appear for your perusal.
I admire a lot of things that President Trump has accomplished in the U.S. economy. However, I am not aware of any position taken by President Trump regarding cryptocurriencies. With the 2020 presidential election looming nearer and nearer, it seems like BOTH the democratic candidate and the republican candidate should state a clear position on digital currencies.
While my article referenced above is totally opposed to digital currency in any and all forms, I have an open mind and I would be glad to change my mind if any well informed individual could explain to a reasonable degree how this inchoate and arcane system would work in our present economic system in both the U.S. and the world.
R. Van Conoley ( Editor’s Note: Mr. San Nicolas is a member of the Democratic party and serves in the House as Guam’s at-large district. )