BREAKDOWN: Bitcoin Fixes This – Canada Protest Edition

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Tech News, Business News, Daily News, News

4.7 • 698 Ratings

🗓️ 15 February 2022

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

As the Canadian government claims emergency powers, people are discussing the implications for financial freedom. This episode is sponsored by Nexo, Arculus, and FTX US. Today on “The Breakdown,” NLW digs into the recent news from Canada. Specifically, he looks at the activation of the Emergencies Act which, among other things, will allow banks and financial institutions to freeze the funds of citizens suspected to be involved in the protests – without due process and without liability. The action is drawing serious ire and shining a light on the importance of alternative financial systems. - Nexo is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 18% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at nexo.io. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer, and more secure solution to store, send, receive, buy, and swap your crypto. Buy now at getarculus.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Vision” by OBOY. Image credit: Gavin John/Bloomberg/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Part of being in a democracy, like the political system we theoretically have, is that you are allowed to protest.
0:06.9	Now, if you protest and you break laws while doing it, you get arrested and you stand trial.
0:10.8	That's how this works.
0:12.3	You don't get threatened with extrajudicial seizure of your financial assets.
0:16.6	And it matters beyond just this protest because one of the bedrocks of why Western economies are so
0:21.1	important to the world is the rule of law, the rule of law which does not allow for this type
0:26.2	of asset seizure.
0:28.7	Welcome back to The Breakdown with me, NLW.
0:32.9	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:38.7	The breakdown is sponsored by nexo.io, Arculus, and FTX, and produced and distributed by CoinDesk.
0:46.5	What's going on, guys? It is Tuesday, February 15th, and today we are talking about Bitcoin fixing this Canada Truckers Edition.
0:55.5	Before we get into the meat of this show, however, if you are enjoying the breakdown, please go subscribe to it wherever you listen
1:00.3	to podcasts, give it a rating, give it a review, or if you want to get deeper into the conversation,
1:05.2	come join us on the Breakers Discord. You can find a link in the show notes, or you can go to
1:09.9	bit.ly.ly slash breakdown pod.
1:13.5	Finally, a disclosure, as always, in addition to them being a sponsor, I also work with FTX.
1:19.5	So if you've been on Twitter at all in the last 24 hours, you will know that there is basically
1:24.9	just one topic of conversation, the Canada Truckers
1:28.1	protest, or more specifically, the decision by Canadian Prime Minister Justin Trudeau
1:32.4	to invoke the up to now never-used emergencies act to give his government more power to deal with
1:37.6	the protests, specifically around their finances. There is a ton to unpack here, but let's do
1:43.3	the TLDR on the protests themselves.
	...

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