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title: "One of the reasons I'm bullish on cryptocurrencies--and privacy…"
date: 2017-06-19
source: facebook
type: Archer T. Ships shared a link.
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# One of the reasons I'm bullish on cryptocurrencies--and privacy…

*June 19, 2017 · Facebook*

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[http://stump.marypat.org/article/758/illinois-link-dump-this-is-fine](http://stump.marypat.org/article/758/illinois-link-dump-this-is-fine){target="_blank"}
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One of the reasons I\'m bullish on cryptocurrencies\--and privacy oriented cryptos in particular\--is that most states are soon reaching the point that so-called mandatory spending will exceed the state\'s tax revenue. When state officials become desperate for cash, they often do things like put in place capital controls, forced bank holidays, and other measures intended to restrict people from fleeing with their money.\
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\"Ah, Illinois. Once known as "The Land of Lincoln," it is now known as "The Puerto Rico of the Plains."\
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Illinois has the distinction of having the lowest municipal bond rating of any state. Only Puerto Rico, which is NOT a state, has a lower municipal bond rating (S&P rates them as 'D' since Puerto Rico has defaulted on the debt). S&P has downgraded Illinois to BBB-.\"\
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\"Illinois has compiled \$14.6 billion in unpaid bills. It's running a deficit of \$6 billion, and its pension liability has soared to \$130 billion.\"\
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[http://stump.marypat.org/article/758/illinois-link-dump-this-is-fine](http://stump.marypat.org/article/758/illinois-link-dump-this-is-fine){target="_blank"}
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