Of course Trump is now a supporter of crypto. Bitcoin is just the precursor to the Feds CBDC. It is of course a trap. Once cryptos are universally accepted by the public then there is nothing stopping the CBDC dystopian nightmare they have planned.
The only trap is if you leave your Bitcoin with an exchange, where you don't have the private key controlling the bitcoins, the exchange does (and the account being in your name is just an IOU). That's similar to dollars in the bank. The government could lean on the exchange or the bank to not let you withdraw your bitcoins or your dollars.
But no one has to leave their bitcoins with an exchange. Anyone can hold the private key himself, and then no government or corporation or anyone else has power over it.
The government are also planning to take the internet down for our own safety of course. When it reopens you will need your vaccine ID to log on. Bitcoin may well be outlawed at the same time, life imprisonment for using it will sure affect the price.
I think you're both overestimating government competency and underestimating individual creativity. People are already coming up with ways to transact Bitcoin with neighbors without an active Internet connection.
Short term is a no brainer but only time will tell if it is a good long term investment. Rumours the CIA invented Bitcoin means they may already own it all and when the CBDC is rolled out they will steal the lot. In the meantime it will fly past 100,000 soon but be prepared to get out before the CBDC launch.
Dr. Smith, even if the CIA invented it, it doesn't matter. Every bitcoin user can look through all the code of whichever version of bitcoin node software they are running. The CIA cannot steal the bitcoins at the addresses to which only I hold the private key.
Also quantum computers coupled with AI will soon, or maybe already can hack the private key. The CIA will then be able to steal the lot in nanoseconds.
They can and most probably will make it highly illegal after the CBDC launch. I am uncertain how much it will be worth after that but I am sure it won't be 100,000 any more. The Fed will not tolerate any competition to their CBDC and as all traders know, you don't fight the Fed.
bitcoin always had that sorta renegade vibe to it, does give me pause to imagine it somehow centralized and normalized... like, seems like that's what 'they' would want...
Where does the assertion that there are "8,000 tons of gold" originate? There are a number of people out there who've said that not only is there is a vast amount of gold that exists and has been repatriated, but that the actual amount has not been publicly stated. Nor can it be, for obvious reasons. Very few people possess that knowledge, and it's not even clear whether the signatories of a so-called "gold treaty" now pending even know.
Sorry, no. Unlike gold, bitcoin is not money (at least, not yet). Gold was selected by the free market over millennia to be money, whereas the process of selecting BTC has just started, and could still turn out either way. So at the moment, BTC is a speculative asset. The government cannot by, ahem, fiat proclaim it "hard money". Government purchase at quantity now short-circuits the market price discovery for BTC currently underway and puts the government thumb on the scale of its selection or rejection as money.
If and when BTC is selected by the free market as money, only then does what you suggest become even possible. But the final step would have to be not just the government having money, but making the dollar fully convertible on demand into money. Only that reveals falsely stated wealth.
Doesn't need so called "governments" to "proclaim it hard money" it is hard money by mathematical rules built into it which all those who mine it must follow or it is rejected by the code. There will never be more than 21 million coins, which makes it the hardest money ever accepted, less inflationary than gold since the last "halving event" and when the last coin is minted there will be no more created. The rules that govern it cannot be changed by any one entity. You can start another version, and many have, but being open source, which means that it can be inspected by any good coder and to anyone running a bitcoin node it will obviously not be bitcoin and will not be accepted as such. This is why each transaction must be verified by the nodes before it is final. I see that most people objecting to it simply do not understand it. Read the Nakamoto white paper and do some studying.
Hard assets you can hold or literally possess, like precious metals or a piece of property. All these have uses in the real world. Bitcoin has no inherent value nor does it even have a transparent marketplace.
Very true Matt. The perceptive ones, the lovers of financial freedom over financial serfdom, the ones seeing that even the big players have validated it, soon more nations will be holding it and like El Salvadore even making it legal tender. Those who have done their homework and got in early will profit the most. Even mainstream financial gurus are seeing that adding it to your portfolio is a smart move.
El Salvador is one tiny country. Many other countries are buying gold literally by the ton. Mainstream financial gurus are now touting Bitcoin because they have an ETF or other financial asset in Bitcoin now. This is the ONLY reason they are now singing its praises. Never trust so-called financial gurus. They'll always push you to buy, but never tell you the right time to sell. Every financial magazine always screams headlines like "50 Stocks To Buy Now". The headline you will never see is, "Time To Sell These 50 Stocks Now".
Hmm. You see, it's this type of language that gives one pause. Pressuring people to adopt BTC by invoking fears of missing out is not speaking to their mind, but to their emotions and fears. This is the language of speculative fervor, not logic and persuasion. If BTC is adopted as money, one will purchase at whatever the prevailing price is and then sell at a stable value. "Deserve" has nothing to do with money other than a day's work for a day's pay. Hoping to "make money" off of transactions is not the function of money but of speculation.
There it is again--the language of speculation. Money, actually, does not have a price; it has a value. When I perform productive work, I exchange it for money expecting to exchange the money for goods and services equal to that value. The profit is in the productivity my work provides, not in the changing of money. This language of desperation that sadly pervades the BTC conversation "get in now before it's too late" does not describe money and betrays a speculative attitude that does the BTC case a disservice.
I'll be glad when the speculators are finished, during the gold rush days it was speculators who desperately risked highly to go after it, but that didn't mean that gold became worthless. I agree actually that the speculative attitude does BTC a disservice. I am not sad when the weak hands get liquidated and eliminate the greedy gamblers from the market sadder but wiser. While BTC is superior to gold and paper in many respects it does not yet fulfill all the functions of money in a superior manner. Actually there are many already living largely off of it. I personally do not have a bank account. But second layer solution for those functions are in the works and will make it as commonly accepted as credit cards are now.
you haven't done the work to know the BTC case it is obvious, BTC wins because it...
1) Is Perfect Currency --> Bitcoin's fixed supply makes it resistant to inflation, protecting its potential as a store of value.
2) Solves Gold's Limitations --> Bitcoin is highly portable, divisible, and resistant to seizure, making it superior to gold in key ways.
3) Increasing Hardness: Bitcoin's value is likely appreciate over time due to its predictable and decreasing issuance rate... you can say the opposite for both fiat AND gold.
Ultimately my friend it is mathematical brilliance. The underlying technology (game theory, blockchain, Merkle trees, hashing) creates a secure, transparent, and efficient system for transactions.
Perhaps, and perhaps not. My point is that that is a determination of the free market over time. BTC has not even completed its price discovery, let alone been determined by the market as money. The market may adopt it as money over time, and it may reject it in favor of another crypto, or even reject crypto entirely as money. Until that process of free market discover and adoption takes place, it is a speculative asset, not money simply because some want it to be.
You are watching it navigate price discovery HISTORICALLY.. no asset class has financialized this quickly... and you still question that BTC is becoming the global Store of Wealth and Medium of Exchange?
Are you aware of the connection between the currency wars and Bitcoin?
Wouldn't supply insensitivity to demand mean wild price fluctuations are a permanant feature of its construction as demand changes and supply stays constant?
Not only Russia, but many other nations are realizing that only BTC is uncensorable and cannot be weaponized like the dollar has been. What we also learned from the confiscation of bank accounts in Canada of truckers and even ordinary single Mom's who made contributions to the truckers cause, is that the banks are not really as safe for your savings as people thought if you run afoul of the thought police.
In order to enable Bitcoin as a currency the capital gains tax on its trading needs to be eliminated. This would have a bigger effect on Bitcoin as a medium of exchange than building a reserve.
I think that has already happened in El Salvadore, and if DJT is true to his promised intentions it could even happen here in the not too distant future.
I think it is unlikely, however I believe the congress will also be affected by this next election and with enough public support I believe it could happen. There may be big players that would like to see it happen.
The so called "government" can purchase it in quantity, and I hope they do it will simply drive the price much higher for each coin, but it can't simply print it. It will just quickly add to the speed of decline in the value of fiat. Hard money chases out weak soft money because people will spend the weakening currency quickly and hold onto the more valuable hard asset. They can dump strategically to temporarily push the price down as they are trying to do, but that will simply be snapped up by those smart enough to understand how it works.
Oh brother...I traveled down a road and suddenly it diverged into two separate paths. It didn't matter if i took the bitcoin path or the CBDC path. They are both controlled or will be controlled by government. The SBR is a dumb idea. Anything digital will lead to complete totalitarianism and the lose of all financial control for the citizen voter.
Disagree. Bitcoin is open source, there is no hidden control mechanism. It is decentralized and not controlled by any one entity, country, corporation or dictator like CBDC. Soon it will have a market cap which will make it very hard to manipulate as it can't just be printed up to be passed out to your cronies and loaned into circulation at interest like fiat. While semi private it is transparent, all transactions are open for all to see on the public blockchain, which so called "governments" hate, they don't want you to see what they are doing with the money they take from you. It is vulnerable to a worldwide infra structure collapse due to worldwide cataclysm which has happened, and will happen again, but then losing your bitcoin is the least of your problems.
I disagree with the idea that government-printed paper is real money, but even if we set that aside, how much real money will your bank allow you to take? Debit cards often have daily ATM withdrawal limits of $300 or so. The point I'm getting at is that you can only get the cash that banks (and ultimately their regulators, the government) choose to allow you. And that leash is not very long.
Although this was intended to be temporary on Nixon’s part, I find it reasonable to construe Watergate as the vehicle by which an independent Nixon was forced from office to make the gold window closing permanent, along with other reasons (e.g., ending Vietnam War and the associated CIA heroin pipeline: https://archive.org/details/alfred-w.-mc-coy-the-politics-of-heroin-2003)
No, the U.S. was funding both Vietnam and the Great Society all at the same time. The French called our bluff because we were printing dollars (gold receipts) without any gold backing. Nixon was an economic idiot. Wage/price controls never work and make the problems worse. He probably never understood the significance of gold backing the dollar.
I am really surprised you didn't ask the obvious question: Exactly with what money is Trump going to buy Bitcoins? More Debt? You cannot back a currency when you are in debt up to your eyeballs. Trump is a pure politician, saying whatever the audience of the day wants to hear. I am surprised you aren't as skeptical as usual. Did the Bitcoin appeal suck you in? Trump clearly knows how to play an audience.
I don't believe for a second we have any gold left in Fort Knox or anywhere else. When was an audit ever done and the American people shown pictures or audit results?
Bitcoin is and always was a globalist/deep state trap. SATOSHI is a fake lore created by Pentagon, DARPA, MIT & CIA because the masses are like children who need marvel super hero like stories. So they were given one. And the hero, of course is a magical mystery man not known to actually exist. How convenient. We are promised he is a good guy working on the showdows. Haha, yeah, if you're dumb enough to believe it.
Bitcoin is a pre-programming and pre-conditioning operation to get the masses to get use to digital currency, to accept crypto, to use crypto and the transition to CBDC and making all things digital. Bitcoin came out during the financial crisis 2008-2009 time frame. Coincidence? Nope.
If anyone is paying attention, Kennedy WILL back the dollar with Bitcoin and precious metals, effectively ending the money printing game. Your Bitcoin wallet will be non taxable and you hold the keys. He will make it exempt from capital gains taxes nor will you be taxed if you transact with Bitcoin. Trump only jumped on the bandwagon because of Bobby. Kennedy is light years ahead of Trump and David Stockman endorses Bobby’s plan in an article just a couple days ago in a piece on Substack.
And exactly what is he going to buy the Bitcoin and precious metals with? We are $35T in debt and going deeper every day. Simply put, there is nothing to buy any of these with except more debt.
We might as well argue how many angels can dance on the head of a pin. With the corrupt two parties running everything, nothing will change. Policies would have to be guaranteed to be in place for decades (which cannot be done), for companies to go through the long process of building, equipping, and running a factory in America. Where will they get the employees? Employers now have trouble getting anyone to work. We could end welfare, which would bring more employees into the workplace, but we all know the odds of that happening. While we are dreaming, let's end all foreign aid. Not one dime to any country ever. Let them put good policies in place if they want prosperity. Also, no military aid either. Any military equipment sold is cash and carry with no subsidies at all.
The problem remains, though, how much Bitcoin can the surveillance state mine with their hundreds of thousands cubic meters of computers? As long as bankers control the value of currency, currency will be debased. Shutting down the Fed and reversing the seventeenth amendment might allow a return to Constitutional currency--temporarily, until Congress finds another way to shirk its responsibility. And it will. What can be corrupted will be.
So then the Treasury prints money. And they would. Not a fan of the Fed, but closing the Fed won't solve our current debt problem. Yes, they helped create it, but the politicians could also have voted NO on the insane deficits.
"He who controls the money supply of a nation controls the nation." - President James Garfield
They shot him, too.
Of course Trump is now a supporter of crypto. Bitcoin is just the precursor to the Feds CBDC. It is of course a trap. Once cryptos are universally accepted by the public then there is nothing stopping the CBDC dystopian nightmare they have planned.
Or he simply knows how to say the right things to the right audience, which is more likely.
The only trap is if you leave your Bitcoin with an exchange, where you don't have the private key controlling the bitcoins, the exchange does (and the account being in your name is just an IOU). That's similar to dollars in the bank. The government could lean on the exchange or the bank to not let you withdraw your bitcoins or your dollars.
But no one has to leave their bitcoins with an exchange. Anyone can hold the private key himself, and then no government or corporation or anyone else has power over it.
The government are also planning to take the internet down for our own safety of course. When it reopens you will need your vaccine ID to log on. Bitcoin may well be outlawed at the same time, life imprisonment for using it will sure affect the price.
I think you're both overestimating government competency and underestimating individual creativity. People are already coming up with ways to transact Bitcoin with neighbors without an active Internet connection.
Short term is a no brainer but only time will tell if it is a good long term investment. Rumours the CIA invented Bitcoin means they may already own it all and when the CBDC is rolled out they will steal the lot. In the meantime it will fly past 100,000 soon but be prepared to get out before the CBDC launch.
Dr. Smith, even if the CIA invented it, it doesn't matter. Every bitcoin user can look through all the code of whichever version of bitcoin node software they are running. The CIA cannot steal the bitcoins at the addresses to which only I hold the private key.
Also quantum computers coupled with AI will soon, or maybe already can hack the private key. The CIA will then be able to steal the lot in nanoseconds.
They can and most probably will make it highly illegal after the CBDC launch. I am uncertain how much it will be worth after that but I am sure it won't be 100,000 any more. The Fed will not tolerate any competition to their CBDC and as all traders know, you don't fight the Fed.
Or you will be given a Government ID which tracks everywhere you go on the Internet. Seems like Nikki Haley has already floated the idea out there.
bitcoin always had that sorta renegade vibe to it, does give me pause to imagine it somehow centralized and normalized... like, seems like that's what 'they' would want...
I do not think Bitcoin can replace Gold.
5,000 years is a long track record. It is no mistake central bankers around the world are buying tons of gold and not Bitcoins.
Ask any person on planet what they would prefer to stash under the bed for the next 2 years -
a 1000$ gold nugget, or an SSD containing "digital keys" to 1000$ worth of bitcoin/satoshi.
It won't take more than a second to decide.
Where does the assertion that there are "8,000 tons of gold" originate? There are a number of people out there who've said that not only is there is a vast amount of gold that exists and has been repatriated, but that the actual amount has not been publicly stated. Nor can it be, for obvious reasons. Very few people possess that knowledge, and it's not even clear whether the signatories of a so-called "gold treaty" now pending even know.
Sorry, no. Unlike gold, bitcoin is not money (at least, not yet). Gold was selected by the free market over millennia to be money, whereas the process of selecting BTC has just started, and could still turn out either way. So at the moment, BTC is a speculative asset. The government cannot by, ahem, fiat proclaim it "hard money". Government purchase at quantity now short-circuits the market price discovery for BTC currently underway and puts the government thumb on the scale of its selection or rejection as money.
If and when BTC is selected by the free market as money, only then does what you suggest become even possible. But the final step would have to be not just the government having money, but making the dollar fully convertible on demand into money. Only that reveals falsely stated wealth.
Doesn't need so called "governments" to "proclaim it hard money" it is hard money by mathematical rules built into it which all those who mine it must follow or it is rejected by the code. There will never be more than 21 million coins, which makes it the hardest money ever accepted, less inflationary than gold since the last "halving event" and when the last coin is minted there will be no more created. The rules that govern it cannot be changed by any one entity. You can start another version, and many have, but being open source, which means that it can be inspected by any good coder and to anyone running a bitcoin node it will obviously not be bitcoin and will not be accepted as such. This is why each transaction must be verified by the nodes before it is final. I see that most people objecting to it simply do not understand it. Read the Nakamoto white paper and do some studying.
Hard assets you can hold or literally possess, like precious metals or a piece of property. All these have uses in the real world. Bitcoin has no inherent value nor does it even have a transparent marketplace.
Good on you for trying.
People are going to buy bitcoin with their fiat paper at the price "they deserve".
Very true Matt. The perceptive ones, the lovers of financial freedom over financial serfdom, the ones seeing that even the big players have validated it, soon more nations will be holding it and like El Salvadore even making it legal tender. Those who have done their homework and got in early will profit the most. Even mainstream financial gurus are seeing that adding it to your portfolio is a smart move.
El Salvador is one tiny country. Many other countries are buying gold literally by the ton. Mainstream financial gurus are now touting Bitcoin because they have an ETF or other financial asset in Bitcoin now. This is the ONLY reason they are now singing its praises. Never trust so-called financial gurus. They'll always push you to buy, but never tell you the right time to sell. Every financial magazine always screams headlines like "50 Stocks To Buy Now". The headline you will never see is, "Time To Sell These 50 Stocks Now".
Hmm. You see, it's this type of language that gives one pause. Pressuring people to adopt BTC by invoking fears of missing out is not speaking to their mind, but to their emotions and fears. This is the language of speculative fervor, not logic and persuasion. If BTC is adopted as money, one will purchase at whatever the prevailing price is and then sell at a stable value. "Deserve" has nothing to do with money other than a day's work for a day's pay. Hoping to "make money" off of transactions is not the function of money but of speculation.
Mate you can tell yourself you 'paused' because I teased you, or you can peel back the layers of calcification around your ego and learn.
Your choice.
Your price.
There it is again--the language of speculation. Money, actually, does not have a price; it has a value. When I perform productive work, I exchange it for money expecting to exchange the money for goods and services equal to that value. The profit is in the productivity my work provides, not in the changing of money. This language of desperation that sadly pervades the BTC conversation "get in now before it's too late" does not describe money and betrays a speculative attitude that does the BTC case a disservice.
I'll be glad when the speculators are finished, during the gold rush days it was speculators who desperately risked highly to go after it, but that didn't mean that gold became worthless. I agree actually that the speculative attitude does BTC a disservice. I am not sad when the weak hands get liquidated and eliminate the greedy gamblers from the market sadder but wiser. While BTC is superior to gold and paper in many respects it does not yet fulfill all the functions of money in a superior manner. Actually there are many already living largely off of it. I personally do not have a bank account. But second layer solution for those functions are in the works and will make it as commonly accepted as credit cards are now.
Bitcoin can never be a currency because it is simply not stable. The price is all over the place. Who would want to get paid in Bitcoin?
"language of desperation"
you haven't done the work to know the BTC case it is obvious, BTC wins because it...
1) Is Perfect Currency --> Bitcoin's fixed supply makes it resistant to inflation, protecting its potential as a store of value.
2) Solves Gold's Limitations --> Bitcoin is highly portable, divisible, and resistant to seizure, making it superior to gold in key ways.
3) Increasing Hardness: Bitcoin's value is likely appreciate over time due to its predictable and decreasing issuance rate... you can say the opposite for both fiat AND gold.
Ultimately my friend it is mathematical brilliance. The underlying technology (game theory, blockchain, Merkle trees, hashing) creates a secure, transparent, and efficient system for transactions.
Keep mocking.
I'll keep stacking.
Wow. So those who believe 5,000 years of use as money trumps Bitcoin are just into our egos. So be it.
Want me to give you 5 reasons BTC is better than Gold, or is this information wasted on you?
Perhaps, and perhaps not. My point is that that is a determination of the free market over time. BTC has not even completed its price discovery, let alone been determined by the market as money. The market may adopt it as money over time, and it may reject it in favor of another crypto, or even reject crypto entirely as money. Until that process of free market discover and adoption takes place, it is a speculative asset, not money simply because some want it to be.
You are watching it navigate price discovery HISTORICALLY.. no asset class has financialized this quickly... and you still question that BTC is becoming the global Store of Wealth and Medium of Exchange?
Are you aware of the connection between the currency wars and Bitcoin?
https://wealthsystems.ai/p/did-the-currency-war-cause-the-bitcoin
BTC supply is insensitive to demand. Can't be centrally controlled. Distributed worldwide.
Sovereign wealth.
Gold has been around forever and BTC has already become more hard than Gold... and it is algorithmically guaranteed to increase in hardness.
Check out stock-to-flow to learn more.
Wouldn't supply insensitivity to demand mean wild price fluctuations are a permanant feature of its construction as demand changes and supply stays constant?
"wild" is tamping down as adoption increases, look at the data
...also imagine if the store of your wealth and the medium of exchange actually RAISED in value.
That upside volatility is sortino ratio vs sharpe ratio, and its a good thing.
I'll take upside vol.
https://lookingforliberty.com/russia-spits-in-the-face-of-sanctions-makes-bold-move-to-accept-bitcoin-for-global-trade/
Not only Russia, but many other nations are realizing that only BTC is uncensorable and cannot be weaponized like the dollar has been. What we also learned from the confiscation of bank accounts in Canada of truckers and even ordinary single Mom's who made contributions to the truckers cause, is that the banks are not really as safe for your savings as people thought if you run afoul of the thought police.
In order to enable Bitcoin as a currency the capital gains tax on its trading needs to be eliminated. This would have a bigger effect on Bitcoin as a medium of exchange than building a reserve.
I think that has already happened in El Salvadore, and if DJT is true to his promised intentions it could even happen here in the not too distant future.
I hope you are right. I wonder if DJT could do that with an Executive Order, and not require legislation.
I think it is unlikely, however I believe the congress will also be affected by this next election and with enough public support I believe it could happen. There may be big players that would like to see it happen.
I agree with this, and also with respect to gold and silver as well.
The so called "government" can purchase it in quantity, and I hope they do it will simply drive the price much higher for each coin, but it can't simply print it. It will just quickly add to the speed of decline in the value of fiat. Hard money chases out weak soft money because people will spend the weakening currency quickly and hold onto the more valuable hard asset. They can dump strategically to temporarily push the price down as they are trying to do, but that will simply be snapped up by those smart enough to understand how it works.
Purchase with what, debt?
Oh brother...I traveled down a road and suddenly it diverged into two separate paths. It didn't matter if i took the bitcoin path or the CBDC path. They are both controlled or will be controlled by government. The SBR is a dumb idea. Anything digital will lead to complete totalitarianism and the lose of all financial control for the citizen voter.
Disagree. Bitcoin is open source, there is no hidden control mechanism. It is decentralized and not controlled by any one entity, country, corporation or dictator like CBDC. Soon it will have a market cap which will make it very hard to manipulate as it can't just be printed up to be passed out to your cronies and loaned into circulation at interest like fiat. While semi private it is transparent, all transactions are open for all to see on the public blockchain, which so called "governments" hate, they don't want you to see what they are doing with the money they take from you. It is vulnerable to a worldwide infra structure collapse due to worldwide cataclysm which has happened, and will happen again, but then losing your bitcoin is the least of your problems.
Your dollars at the bank are already digital.
Not at the ATM. :-) I get real money there.
I disagree with the idea that government-printed paper is real money, but even if we set that aside, how much real money will your bank allow you to take? Debit cards often have daily ATM withdrawal limits of $300 or so. The point I'm getting at is that you can only get the cash that banks (and ultimately their regulators, the government) choose to allow you. And that leash is not very long.
Prof St. O, some relevant history of it being BoE/City of London banksters who forced Nixon’s hand on closing the gold window: https://www.bullionstar.us/blogs/ronan-manly/british-requests-for-3-billion-in-us-treasury-gold-the-trigger-that-closed-the-gold-window/
Although this was intended to be temporary on Nixon’s part, I find it reasonable to construe Watergate as the vehicle by which an independent Nixon was forced from office to make the gold window closing permanent, along with other reasons (e.g., ending Vietnam War and the associated CIA heroin pipeline: https://archive.org/details/alfred-w.-mc-coy-the-politics-of-heroin-2003)
No, the U.S. was funding both Vietnam and the Great Society all at the same time. The French called our bluff because we were printing dollars (gold receipts) without any gold backing. Nixon was an economic idiot. Wage/price controls never work and make the problems worse. He probably never understood the significance of gold backing the dollar.
I am really surprised you didn't ask the obvious question: Exactly with what money is Trump going to buy Bitcoins? More Debt? You cannot back a currency when you are in debt up to your eyeballs. Trump is a pure politician, saying whatever the audience of the day wants to hear. I am surprised you aren't as skeptical as usual. Did the Bitcoin appeal suck you in? Trump clearly knows how to play an audience.
I don't believe for a second we have any gold left in Fort Knox or anywhere else. When was an audit ever done and the American people shown pictures or audit results?
I believe the exact word was “stockpile” rather than “reserve.” Got to love it!
But what is he going to buy it with? Debt?
Sounded like he was just going to hodl it.
How Miley sold the country: 62 tons of gold were exported from Argentina
https://eprimefeed.com/latest-news/how-miley-sold-the-country-62-tons-of-gold-were-exported-from-argentina/566523/
Eight thousand tons of gold? Even if it is there, that's worth about half of trillion. We still got 34 and a half to go.
Bitcoin is and always was a globalist/deep state trap. SATOSHI is a fake lore created by Pentagon, DARPA, MIT & CIA because the masses are like children who need marvel super hero like stories. So they were given one. And the hero, of course is a magical mystery man not known to actually exist. How convenient. We are promised he is a good guy working on the showdows. Haha, yeah, if you're dumb enough to believe it.
Bitcoin is a pre-programming and pre-conditioning operation to get the masses to get use to digital currency, to accept crypto, to use crypto and the transition to CBDC and making all things digital. Bitcoin came out during the financial crisis 2008-2009 time frame. Coincidence? Nope.
Cryptos are a PSYOP (2021)
https://blackboxpolitic.wordpress.com/2021/11/21/cryptos-are-a-psy-op-and-world-government-creation/
Bitcoin is a Deep State Operation
https://blackboxpolitics.substack.com/p/bitcoin-a-deep-state-operation
Undercover globalist Trump backs Deep State Bitcoin & Why
https://blackboxpolitics.substack.com/p/trump-backs-globalist-bitcoin-pys
-Dillon Critique from what's THE DILL? (Substack)
https://blackboxpolitics.substack.com
If anyone is paying attention, Kennedy WILL back the dollar with Bitcoin and precious metals, effectively ending the money printing game. Your Bitcoin wallet will be non taxable and you hold the keys. He will make it exempt from capital gains taxes nor will you be taxed if you transact with Bitcoin. Trump only jumped on the bandwagon because of Bobby. Kennedy is light years ahead of Trump and David Stockman endorses Bobby’s plan in an article just a couple days ago in a piece on Substack.
And exactly what is he going to buy the Bitcoin and precious metals with? We are $35T in debt and going deeper every day. Simply put, there is nothing to buy any of these with except more debt.
With all the money that we saved, not funding 800 military bases across the world and money saved from the military industrial security state complex.
You do realize the INTEREST on the National Debt is now LARGER than the ENTIRE yearly DoD budget?
Yes, and we can't cut our way out of a debt that large. It's going to take
time and bringing back our industrial base. If you go to 58:41 of this video, he explains how this needs to be accomplished.
https://www.youtube.com/watch?v=r80tG366mRk&t=3514s
We might as well argue how many angels can dance on the head of a pin. With the corrupt two parties running everything, nothing will change. Policies would have to be guaranteed to be in place for decades (which cannot be done), for companies to go through the long process of building, equipping, and running a factory in America. Where will they get the employees? Employers now have trouble getting anyone to work. We could end welfare, which would bring more employees into the workplace, but we all know the odds of that happening. While we are dreaming, let's end all foreign aid. Not one dime to any country ever. Let them put good policies in place if they want prosperity. Also, no military aid either. Any military equipment sold is cash and carry with no subsidies at all.
The problem remains, though, how much Bitcoin can the surveillance state mine with their hundreds of thousands cubic meters of computers? As long as bankers control the value of currency, currency will be debased. Shutting down the Fed and reversing the seventeenth amendment might allow a return to Constitutional currency--temporarily, until Congress finds another way to shirk its responsibility. And it will. What can be corrupted will be.
So then the Treasury prints money. And they would. Not a fan of the Fed, but closing the Fed won't solve our current debt problem. Yes, they helped create it, but the politicians could also have voted NO on the insane deficits.