Dumbest. Fucking. Idea. Ever
Well no its actually a perfect method of looting the treasury and handing all the country’s future wealth to the billionaires now, making them trillionaires, and all in a way that impossible to track…
A purchase shortly followed by one of the biggest bitcoin and market crashes in modern times.
Sounds like a good way to lose money.
Gotta give Russia the liquidity to exit its BTC positions if the war and sanctions will soon be over.
Assume this is out to deflect from the War room signal story.
No. Old news, this is.
So Trump wanted to get the gold from fort Knox so he could hand it over to Chinese hackers?
North Korea is more famous for that
Fuck bitcoin. Let’s bring back the beanie-baby as a monetary standard.
The USA Pokemon Card Reserve.
If we’re going to use something physical, we should use meteoric rocks that can’t be replicated on Earth.
Musk starts eyeing the old boxes full of them in his basement…
I see your beanie babies and raise you Pogs
I’ve got some old Magic: The Gathering cards.
Sure, why not. I could use a laugh, and the memes when this fails too are going to be juicy.
Some real emperor’s new clothes shit right here. At this point we should just put a slot machine on the flag
The biggest pump and dump scam of all time?
America has gold reserves?
Yeah, um, most countries have already traded theirs for other, more profitable investments.
Which countries are you talking about? Pretty much every country with a notable economy has gold reserves of some size.
Recently pardoned Dread Pirate Roberts will be appointed the head of the Department of Internet Currency Keeping.
He’s the best at bitcoin.
Undoubtedly he’d resign or get scapegoated though, and truck will need to find and appoint a new DICK head.
What Happened: Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, suggested in an interview that the U.S. could capitalize on the gains from its gold holdings to purchase more Bitcoin.
https://en.wikipedia.org/wiki/Bo_Hines
Robert “Bo” Hines (born August 29, 1995) is an American former college football player from North Carolina. He played college football for the NC State Wolfpack and Yale Bulldogs. In 2022, he was the Republican nominee in North Carolina’s 13th congressional district.
Call me a traditionalist, but it seems to me that if you’re going to be advising the President on digital assets, it’d be nice to have an economics background.
Call me a traditionalist, but it seems to me that if you’re going to be advising the President on digital assets, it’d be nice to have an economics background.
None of the rest of Trump’s cabinet have any qualifications, so why should this guy?
Just to add, he is a lawyer. He did politics to law pipeline. And yeah there’s typically no economic requirement to that like there would be with other political science paths.
I am guessing that Musk will create a Muskcoin, and offer to ‘sell’ it for a preferable rate to the US government. Coincidentally, the Muskcoin uses the X Everything platform for all transactions.
With each day that passes, I am becoming more convinced that shifting 99% of my money into Euros is the right call.
How much money do you have? At the current state of affairs the best possible investment is to buy pallets of ammo and crates full of AR lowers.
Many times more than $500, but far below $100,000. In any case, I am thinking that if WW3 starts up, I can buy war bonds from the places that oppose Dogey America. Probably fiscally safer and more effective than buying ammo as an individual, since states can do better bulk purchases and negotiations with that money. Hopefully my neck of the woods would disobey Trump orders to outlaw the purchase of foreign war bonds.
I am not even talking about a war scenario. The college near me has guest finance speakers and once in 2006 they described how a few investors were renting warehouse space and buying bullets as a hedge and ar lowers as a speculatory investment with little downside. I am assuming they must have made a killing I’m profits.
You need a sizeable amount of investment money to do it at a scale where storage costs don’t eat into your profits though.
touches nose Why risk your money on gold or silver when you can invest in brass? Pretty good odds on another spicy summer in America.
The US has a bitcoin reserve? First I’ve heard of it. Whatever, but using gold to buy it makes no sense.
They don’t. It’s being floated. Trump said he’s going to create a reserve. Not an official act yet.
This line in the article made it sound like it already exists:
“This move, according to Hines, could be a budget-neutral way to increase the country’s Bitcoin reserves.”
Apparently, it does, as an act of E.O. that whole line concerns me - that they’ll use the budget to buy bitcoin while laying off workers and cutting social security.
From the article, sounds like they would only be using money made from the sale of the gold they already have. Basically, not spending any extra money, and in the end, just converting some gold to bitcoin. I’m not sure how the sale of gold certificates work.
They already have some digital currency that was acquired mostly by civil forfeiture.
