Could Bitcoin Fuel France's Yellow Vest Revolution?

Max Keiser, financial pundit and crypto-currency advocate is making headlines with recent tweets calling on the people of France’s “jillets jaunes” movement to convert their bank deposits into Bitcoin. Protests from the jillets jaunes, or Yellow Vests, have created chaos in the streets of France as protestors upset by a wide range of issues have taken to the streets calling for French President Emmanuel Macron to step down.

“If every French person converted 20% of their bank deposits into #Bitcoin, French banks would collapse and a lot of bloodshed could be avoided. #jilletsjaunes,” Keiser tweeted on Monday. Keiser, also the host of the Keiser Report, is known for his ardent support of crypto-currencies, as well as his penchant for refusing to mince words when discussing the problems with central bankers and governments.

 

In further tweets and comments, Keiser elaborated on his suggestion. “My research indicates a 20% deposit withdrawal will trigger an unsustainable chain reaction resulting in a severe French bank crisis,” he wrote. “This will result in a rise in Bitcoin price, giving protestors wherewithal and incentive to move more deposits out of the bank and into Bitcoin.”

Keiser also expressed his belief that was is taking place in France and the ongoing political battle over the Brexit are a part of a larger rejection of central banking. The financial pundit said “Global Insurrection Against Banker Occupation”, or GIABO, is sweeping the globe and advised people to “Load up on #Bitcoin, Gold and Silver”.

“Brits want sovereignty from global banks. French want sovereignty from global banks. Whole world wants sovereignty from global banks. Only #Bitcoin offers sovereignty. Support the global exit from banker occupation. Buy Bitcoin, Crash Banks,” Keiser tweeted.

One Twitter user asked Keiser what would stop the state from “becoming seriously regressive and draconian in response? ie. Imprisonment/ Death sentence for Bitcoin use etc?”. Keiser’s response illustrates his level of commitment to the causes he promotes. “Of course they will. And they’ll lose. Some will perish, but the cause of freedom must be won.”