Loading ...Treasury Secretary
I don’t like either of the two being mentioned. Neither Lutnick nor Bessent. We need a pro hard money, anti FED Treasury Secretary. Any suggestions? https://www.zerohedge.com/political/bessent-vs-lutnick-musk-rfk-push-pro-crypto-treasury-secretary-while-bass-backs-rumored
Just read this after my post. She raises good points and asks interesting questions. https://wendywilliamson.substack.com/p/is-the-deep-state-really-scared?
Interesting Perspective
But Bitcoin is Finite …how can it be used to “soak up” all the US Debt ? ( hundreds of trillions )
I know you are a Gold over Crypto Guy CM…me too …but Gold is also finite …there is not enough nor will there ever be enough to back all the Debt in the world
Personally I welcome Crypto ..it’s something the Gen X Milenials and Gen Z Generations understand and believe in and it far better than herding everyone into CBDCs which are now thankfully DOA !
In the end “Money” is whatever the masses say it is
Gold really is a barbaric relic to these folks and they are ascending while we Boomers are in decline
Not necessarily agreeing with her points though interesting. As far as Bitcoin being finite and soaking up all the debt. Two points. It doesn’t matter that Bitcoin is finite. The point is if it keeps rising it can continue to take away demand that would otherwise go towards real money (gold & silver.) I believe that was one of the reasons for it’s creation by, I believe, the US intel community. As far as there not being enough gold to back all the debt that has to be created, it doesn’t matter. The price will keep increasing as well as the debt levels. Also, through much of history gold didn’t back 100% of the outstanding currency. Usually, something in the neighborhood of 40% has been used. It doesn’t have to be a specific percentage, as long as it is enough to keep confidence in the system. Ideally, you don’t back something with gold you go back to using actual gold and silver coins as money. The existing debt gets wiped out when the fiat system collapses, so who cares how much debt there was at that time? It all becomes worthless paper to use in fireplaces and or wipe ones butt.
As for Killing Trump…That won’t solve their Populist Problem…it would make it worse
They sure as hell tried to take him out every other which way and all of it backfired
Regarding Bitcoin’s ‘finiteness’: Gen Z (nor any human living today) is going to be around to see it…. and just for kicks, say it becomes the global reserve currency, who’s to say what people in 2140 are going to do to it’s ‘finiteness’ in order to fight a war or perhaps defend against a (percieved or real) interstellar threat, will the halving truly end, will it be replaced by say ‘Imagincoin’? Nobody the fuck knows !
We’re on this planet for a limited time only.
PM’s scarcity is akin to gravity and does not rely on a belief in a ‘halving’ timeline actually ending.
common search result:
How long does crypto halving last?
“Crypto halving lasts for approximately four years. This event, known as Bitcoin halving, takes place every 210,000 blocks. The process will continue until the total supply of 21 million BTC is reached. Experts predict that the final Bitcoin will be mined by the year 2140.”
11/17/2024
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
10 years on and just over 2% of bitcoin owners own over 90% of all bitcoin (1) largely owned by govt’s and exchanges (aka NOT YOUR BTC), and (2) there’s an f’n ledger of what amount went from address to address – about as ‘private’ as anything on the internet (sarc). The USD could be devalued against BTC at $100k or even $100mill – I’m going to pass.
Tulips.