Treasury Secretary Stephen Mnuchin held an impromptu press conference to explain just how terrible and unpatriotic crytpocurrencies (and Facebook's Libra) are.

"Treasury has very serious concerns over [Facebook's] Libra."

"Cryptocurrency concerns are a national security issue."

"Bitcoin is highly volatile and speculative" he warned, ominously adding that cryptos are used by "money launderers, terrorist financiers, and various bad actors."

"Crypto investors should be careful."

Cryptos turned back lower as the press conference got under way...

The sudden panic, following Libra's white paper release, among establishment types is interesting. Amid clear dollar liquidity shortages and cornered central banks around the world, is this starting to set the stage for the next mega-crisis and the end of the dollar?

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