Tag Archives: President Trump

Trump Issues An Executive Order to Ban the Venezuelan Petro

(Dash Force News) Donald Trump has issued an executive order to ban all cryptocurrencies issued “by, for, or on behalf” of the Venezuelan government by a “United States person or within the United States”.

“All transactions related to, provision of financing for, and other dealings in, by a United States person or within the United States, any digital currency, digital coin, or digital token, that was issued by, for, or on behalf of the Government of Venezuela on or after January 9, 2018, are prohibited as of the effective date of this order.”

The executive order is a follow up to the sanctions that were placed on Venezuela by the US this past December since the Petro was seen as a work around by the Maduro regime. The action echos the US Treasury Department’s previous statement that advised investors to avoid the Petro, which called it “another attempt to prop up the Maduro regime, while further looting the resources of the Venezuelan people.”

[RELATED: Venezuela’s Government-Backed Petro Faces Obstacles, Scrutiny]

The Petro, pre-sale launched on February 20, was proclaimed to be backed by oil from the country and thus many saw the Petro as a de facto oil future rather than a cryptocurrency. However, the democratically elected body of Venezuela have already called the Petro illegal. In addition, many have called into question the cryptocurrency’s decentralized nature since a majority of the Petro seems to be in a few wallets and many suspect that most buyers were governmental agencies.

Fallout for other cryptocurrencies and the Venezuelan people

This move by the US President is the first major national decision by the US to ban a cryptocurrency. The executive order, which allows the president to act unilaterally, specifically mentions cryptocurrencies that are “by, for, and on behalf” of the “Government of Venezuela” so it does not appear to be an immediate threat to other cryptocurrencies.

The executive order does, however, beg the question if the same action can be extended to other more open cryptocurrencies that may be adopted by the Venezuelan government. Even if this becomes the case, the effect on Venezuelans would still be minimal, as long as the cryptocurrency is properly structured. The USD exchange price would most likely plunge, but Venezuelans will still be able to use said crypto within their country, free of governmental manipulation, and use decentralized exchanges to exchange into other cryptocurrencies when they want to trade within another country that initiated a ban.

For the time being, the Petro seems to only serve the interest of the Venezuelan government rather than the citizens of the country who use Bolivars, USD, and other cryptocurrencies. Thus the citizens of Venezuela should not suffer much from this ban since Venezuelans are utilizing other cryptocurrencies to escape the terrible policies of their government.

Dash is on the ground and improving lives in Venezuela

Dash is continuously increasing its presence within Venezuela, most recently seen in the Dash Caracus Conference, which had such a large influx of attendees that a second overflow conference was held. Then while governments place sanction on the Maduro regime in an attempt to weaken it, the Dash community is volunteering to give direct aid to Venezuelans by donating Dash. Venezuelans have seen their currency suffer from over 2,500% annual inflation and their economy destroyed by a corrupt and ignorant government. Nevertheless, Venezuelans refuse to let external factors stop them and are using Dash to provide real alternatives that better their lives.

Creative entrepreneurs are using Dash to restart their economy. Citizens are using Dash to purchase goods and services, while also maintaining the value of their currency better than the Bolivar. Each Dash Caracus Conference holds a Dash City (Ciudad Dash) to sell goods from local entrepreneurs and the most recent one had 53 vendors. This everyday use of Dash to solve real world problems leads to even greater adoption and a stronger user base, which will further contribute to Dash decreasing its volatility when compared to other cryptocurrencies.

 

Written by Justin Szilard

Judge Napolitano: President Trump and the Freedom of Speech

When James Madison drafted the First Amendment — “Congress shall make no law … abridging the freedom of speech” — he made sure to use the article “the” in front of the word “freedom.” What seemed normal to him and superfluous to moderns was actually a profound signal that has resonated for 227 years. The signal was that because the freedom of speech existed before the government that was formed to protect it came into existence, it does not have its origins in government.

The freedom of speech has its origins in our humanity. It is a natural right. It exists in the absence of government. By the exercise of normal human reasoning, all rational people are drawn to exercise this freedom. Madison understood this. He could have written, “Congress shall grant freedom of speech.” He did not because that freedom is not Congress’ to grant or to abridge.

I am presenting this thumbnail sketch of the historical and philosophical underpinnings of the freedom of speech by way of background to a hot dispute now raging off the front pages. The dispute addresses whether the president of the United States can use federal courts to block the exercise of this right. CBS News wants to air an interview with an adult-film actress who alleges a sexual relationship with Donald Trump — a relationship he denies — and President Trump wants to prevent the airing.

The actress, whose stage name is Stormy Daniels, signed an agreement in October 2016 to accept $130,000 in return for remaining silent about her alleged sexual relationship with Trump, which she claims occurred shortly after the birth of his son Barron, who is now almost 12. The lawyer who negotiated the agreement with Daniels’ lawyer claimed that he was doing this on his own, that the hush money came from him and not Trump, and that Trump was not his client.

That claim raises profound campaign finance issues, but they are not the point of this piece. The point of this piece is about the freedom of speech.

Daniels, whose present lawyers have sued to invalidate the agreement, recently gave an interview about her relationship with Trump to the CBS News program “60 Minutes.” CBS plans to air that interview in the coming weeks, and Trump wants to prevent that from happening. The stated legal basis for Trump’s lawyers asking a court to block the broadcast is the existence of the hush agreement, which, in plain words, bars Daniels from discussing anything about her alleged sexual relationship with Trump. Obviously, Trump does not want any allegations from Daniels — true or false — to become a topic of public conversation and a distraction to his presidency.

Can the president legally persuade a federal court to enjoin the airing of an interview? In a word: no. Here is the back story.

In 1931, in a famous case called Near v. Minnesota, the Supreme Court generally rejected the concept of “prior restraint.” Prior restraint is the use of the courts to prevent the media from disseminating materials they already have. The Near case dealt with an anti-Catholic, anti-Semitic, anti-African-American newspaper that Minnesota state courts had silenced. The Supreme Court overruled the state courts and held that the freedom of speech presumes that individuals will decide for themselves what to read and hear and the First Amendment keeps the government — which here includes the courts — from censoring the marketplace of ideas, even hateful ideas.

Forty years later, in the Pentagon Papers case, the Supreme Court made a similar ruling. There, Daniel Ellsberg, an employee of a contractor to the Department of Defense, stole highly classified documents that demonstrated that then-President Lyndon B. Johnson and his generals had knowingly deceived the American public about the war in Vietnam.

When Ellsberg gave the documents to The New York Times and The Washington Post, the Nixon administration hurriedly persuaded a federal judge in New York to enjoin the Times from publishing the documents. Before a federal judge in Washington could rule on a similar request — and bypassing the intermediate appellate courts — the Supreme Court took the case and ruled in favor of the freedom of speech and reinforced the judicial condemnation of prior restraint.

But the Pentagon Papers ruling went a step further than the Near opinion had. It ruled that no matter how a media outlet has acquired matters material to the public interest — even by theft of top-secret documents — the outlet is free to publish them. This, of course, does not absolve the thief (though the case against Ellsberg was dismissed because of FBI misconduct), but it makes clear that no court can block the media from revealing what they reasonably believe the public wants to hear.

Now back to the president and the adult-film star. Because whatever Daniels said to CBS arguably speaks to Trump’s fitness for office, individuals have the right to learn of it, to hear Trump’s denials and to form their own opinions. In Trump’s case, he has a bigger megaphone than CBS does — via his adroit use of social media — and the volume and ferocity of his denials might carry the day.

But the point here is that individuals can make up their own minds about the president’s character; they don’t have to endure the prior restraint of a court’s silencing a voice in the debate, even a tawdry voice.

What if the hush money agreement Daniels signed — and the president did not — is valid? Could that trigger prior restraint? In a word: no. The Madisonian values underpinning the freedom of speech, as articulated consistently by the Supreme Court, will prevail. Anything short of that would prefer government censorship over personal choices in matters of speech, a preference the First Amendment profoundly rejects.