“Global populist revolt”

Bannon argued that the leading digital currency Bitcoin could be a very important part in “this global populist revolt,” with cryptocurrencies having a big future.

Bannon thus reiterated words from his lecture in Zurich this spring, when he stated that cryptocurrencies and blockchain will “empower [the populist] movement, empower companies, [and] empower governments to get away from the central banks that debase your currency and makes slave wages.”

Bannon further stipulated that he anticipates that developing countries will use cryptocurrency to escape the dependence on the U.S. dollar as a reserve currency. Bannon said:

“I happen to think that Facebook was principally against some of the Chinese Alibaba, Tencent, etc. — these payment systems. I think that what people have to confront now, and people have started looking at is how the Chinese and third world countries — in Sub-Saharan Africa, in South Asia, and I think potentially in Latin America — are starting to put these payment systems in. They are going to kind of give them — try to give them global dominance and be able to get off the reserve currency of the dollar.”