Liz Truss: Bitcoin is Ultimate Weapon Against Central Banks

Former U.K. Prime Minister Liz Truss has embraced cryptocurrency as a necessary tool to dismantle the financial establishment. 

She has stated that Bitcoin can serve as a vital “counterweight” to the unchecked authority of central banks and the permanent bureaucracy.

A critical counterweight 

For Truss, the appeal of cryptocurrency is tied to its ability to bypass traditional financial institutions. 

She noted that a growing number of people are “frustrated… by the way that money has worked in our country, the way that fiat currency has worked in our country.”

“That’s what attracts me to it, the fact that it is a counterweight to the sheer power that central banks have that we’ve seen exercised at both an international and a national level, whether it’s the Bank of England or the ECB,” Truss explained.

She pointed to global leaders who are already leveraging digital assets to bypass failing legacy systems: “What we seem to be seeing is we see disruptive political operators… using it as a way of taking on the establishment and taking on the established financial system, which fundamentally hasn’t been working for their countries.”

The need for a “conterrevolution”

Truss has linked the adoption of decentralized money to broader civil liberties.

“What it seems to me is unless we deal with the money system in Britain, we are not going to achieve the type of counterrevolution that’s needed to actually give people back their core freedoms,” she warned, adding that “ownership of Bitcoin, belief in economic freedom, is linked to other freedoms like freedom of speech.”

“Most of the power is exercised by the permanent bureaucracy,” Truss stated. “And if you want to get ahead in the permanent bureaucracy, you have to stay in it for years, you have to work your way through the system. There are incentives such as being risk-averse and not… making too many decisions that are going to catch people out at some future point.”

Truss has taken note of the severe disconnect between the public’s perception of the U.K. economy and its grim reality.

“I mean, there was some interesting research out this week that said the average Britain thinks that we are as poor as the seventh U.S. state or as rich as the seventh U.S. state. In fact, we’re actually number 51; we’re poorer than Mississippi. And yet the perception isn’t that there is that level of problem with the British economy.”

Ultimately, Truss called on the Bitcoin community and pro-business advocates to step up and break the institutional gridlock she witnessed firsthand.

“My experience in Number 10 is just the sheer power of the status quo,” Truss concluded.