Nov. 3, 2023
I am writing to provide my comments on the "Safeguarding Advisory Client Assets" proposal by the Securities and Exchange Commission (SEC). While I appreciate the SEC's efforts to enhance investor protections, I have concerns about overreach of regulatory authority and the treatment of digital assets or crypto. SEC, as it currently exists, should be renamed to Stupidity Evolution Coddling agency. Protecting low IQ investors only breeds more low IQ investors. The USA became strong since 1776 when harsh environments caused only the smart to survive. Let Mother Nature's natural selection work. Nature knows best how to organize. People need to develop Critical Thinking Ability when investing. The existence of the SEC causes people to let their guard down, thinking that the government will protect them. When stupid people invest in bad projects, they lose money and should suffer the humiliation of asking their friends and relatives for financial assistance. With government welfare, they can anonymously get free money for food stamps, phones, and housing. All welfare recipients should be public domain information. If they are shamed, they will be less likely to breed children with the same DNA. Sadly, many will resort to stealing, but they will likely be caught, being stupid. But it is good for evolution that will go to jail and not reproduce. Shut down "protect the stupid" actions of the SEC and let Natural Selection produce the survival of the fittest and strongest, for a strong America. Provide for the common defense of the USA, especially our border.