Catch 22 of power.

"Bitcoin may be 'here to stay', but that still does not justify its adoption as a currency." "Humans have always assigned a value to various eclectic goods," and Bitcoin's price is a reflection of a cap on the total number of Bitcoins possible, wrote Srinath Sridharan. "That maximum supply of Bitcoin (BTC) is capped at 21 million," and already "19.6 million Bitcoin's are in circulation." "Currently, each block reward is 6.25 BTC." "In a nutshell, Bitcoin halving reduces the BTC rewards that miners receive for successfully validating a block. This is reduced by 50%." "The next halving will occur around April 2024," and "the block reward for mined BTC is expected to be reduced from 6.25 BTC to 3.125 BTC." techopedia. "In a landmark development for the cryptocurrency industry, the US Securities and Exchange Commission (SEC) has greenlit the establishment of Bitcoin exchange-traded funds (ETFs) by investment funds, signalling a potential revival for the world's largest cryptocurrency token by market capitalization." Mint. However, the Governor of the Reserve Bank of India (RBI) wants a ban on all cryptocurrencies, ostensibly because it "is a form of gambling without any underlying value". India Today. How caring! This is the same Governor who stuck to an interest rate of 4% for 24 months, from May 2020 to May 2022 (Forbes) even while consumer price (CPI) inflation raged from a low of 4.1% to a high of 7.8% (RI) thus inflicting extreme financial repression on citizens, to support the government. "Financial repression is a term that describes measures by which governments channel funds from private sector to themselves," because "overall policy actions result in the government being able to borrow at extremely low interest rates, obtaining low-cost funding for government expenditures." "These measures are repressive because they disadvantage savers and enrich the government." Investopedia. "Unlike traditional currencies, Bitcoin lacks elasticity in its supply, making it inherently deflationary." High inflation helps the government reduce its debt by increasing tax collection through VAT or GST and the value of debt falls as the value of the currency declines. Economics Help. As proof, the value of the rupee has fallen from about 61 to one dollar in 2014, when this government grabbed power, to around 83 to one dollar presently. Forbes. Even as it wants a ban on Indians purchasing cryptocurrencies, "On July 5, 2023, the Reserve Bank of India's (RBI)'s Inter-Departmental group (IDG) presented a roadmap for internationalizing India's currency," wrote Prof Dr. M. Jayadev. There are 200 cryptocurrencies at present with varying market capitalization. Coinmarketcap. If the rupee becomes truly international how will the RBI stop citizens rushing to buy Bitcoins or the US dollar to guard against RBI's repressive policies? You can either protect the wealth of citizens or you can loot them, can't do both. This is Catch 22 of total power. Megalomania.