Senator Tommy Tuberville – a republican from the state of Alabama – is reintroducing a bill that would prevent the Department of Labor from getting in the way if retirees want to use their funds to purchase crypto or other forms of speculative assets.
Tommy Tuberville Seeks to Protect Crypto Retirement Investments
The move is being initiated not so much because Tuberville is a major crypto fan, but because he’s sick and tired of Biden and his nation-hating cronies working their tails off to regulate the funds of everyday Americans and for trying to control what they do. He says that for too long, Biden and his administration have attempted to bring down the hammer on standard American financial practices, and he’s tired of the government getting in the way. Tuberville commented in a recent interview:
The Biden administration can’t keep its hands off of Americans’ finances. Meddling in 401(k) investments through overregulation restrains financial growth and restricts personal liberty. The federal government shouldn’t choose winners and losers in the investment game. Bureaucrats have no business telling hard-working Americans how to manage their savings accounts. My bill ensures that everyone who earns a paycheck has the financial freedom to invest in their futures however they see fit.
Indeed, several members of the democrat party have sought to get in the way when it comes to Americans making their own decisions about what they do with their money. Another example comes in the shape of Elizabeth Warren, the forever anti-crypto senator of Massachusetts. Not long ago, when Fidelity announced it would allow clients to use their retirement funds to invest in crypto, Warren appeared to take the sentiment personally and attacked the organization for what she referred to as irresponsible tactics.
At the end of the day, however, what Americans spend their money on or how they invest should not be in the hands of the government. This was the initial design set forth in our Constitution by the Founding Fathers, and the fact that Biden and so many other members of the liberal political spectrum are trying to prevent this marks a sick and despicable era in the history of the U.S.
Democrats and Their Crypto Hypocrisy
Many of these individuals are using the collapse of the FTX exchange as an excuse to initiate crypto regulation and prevent American individuals from getting involved in the space, though this is concerning and hypocritical given that many of them accepted (likely stolen) funds from the organization and its founder Sam Bankman-Fried when they were up for reelection.
At the same time, the above-mentioned bill is coming during an unusual period given that the crypto space has been trapped at the bottom of the barrel for the past 12 months (2022 was arguably the worst year for the industry on record).
Source: Read Full Article