In a recent social media post, Coinbase CEO Brian Armstrong has declared that crypto is the magical elixir that will inject economic freedom and capitalism into every country, from the bustling markets of Timbuktu to the icy tundras of Siberia. 🧙♂️💰 “If we want greater prosperity, especially for the poorest people in society, we need more capitalism, and less socialism,” the Coinbase head said, as if the concept of ‘poorest’ is a rare species that only exists in the wild. 🤡
Is it that simple? 🤔
Armstrong has quoted popular economics blogger Noah Smith, who has compared the development of Venezuela and Poland, as if they were two sides of the same coin… or perhaps two different coins entirely. 🪙 “Venezuela implemented policies of nationalization and state control under Hugo Chávez, which stifled its oil industry and other vital sectors of the economy. As a result, the country has faced hyperinflation, mass emigration, shortages, and so on. It’s like trying to build a house with a broomstick and a prayer. 🏗️💸”
In the meantime, Poland implemented a set of privatization and liberalization reforms following the fall of the Soviet Union, experiencing steady economic growth. Or as some might say, “We took a few steps back, then a few more, and now we’re just standing there.” 🇵🇱📈
However, some naysayers argue that Poland’s example is actually misleading, given that the country has secured billions of euros worth of subsidies from Germany and other EU members on an annual basis. Because nothing says “economic independence” like relying on your neighbors’ pocket change. 🤷♂️💶
Moreover, the Central European country still has a lot of socialist policies, such as free education, free healthcare, and various other social protections. Because nothing says “fairness” like letting the government pay for your doctor’s visits. 🩺🪙
Socialism in New York 🗽
The debate comes after extreme socialist Zohran Mamdani was elected as the new mayor of New York. Roughly 9% of the entire city stated that they would leave the financial capital of the world if Mamdani were to spearhead it. Because nothing says “economic stability” like a 9% exodus. 🚪📉
There are persistent concerns about the tax base eroding due to high-net-worth individuals leaving the city. Because nothing says “prosperity” like watching your rich friends flee. 🏙️💸
As reported by U.Today, Robert Kiyosaki, the author of “Rich Dad Poor Dad,” previously urged investors to protect themselves with Bitcoin and Ethereum following Mamdani’s victory. Because nothing says “financial security” like putting your money in a digital piggy bank that’s been known to fluctuate like a yo-yo. 🎢📉
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2025-11-10 09:40