Trump proposes the government create a strategic crypto fund by buying alt coins

Sadly I am zero percent surprised by any of this for a multitude of reasons.



One thing I'm certain of, the sh1tcoins will fail, like they always do, the US will learn and divest, Bitcoin will win, like it always does, and the US will push forward in it.

 

Naked corruption.

 

It is a tongue and cheek question - I know.

However, I think that the answer is that short of a total economic collapse, he would stay in power.

The reason is that the current situation is the best for the ultra-wealthy in over 100 years.

Right now it is very clear that the policy, and those that dictate and influence policy are concerned with making money at the very top.

This shouldn't be a shock - we saw how even outspoken critics of Trump that were billionaires rallied behind him and kissed the ring to prevent them from being punished or excluded from the free for all.

Couple that with the fact that Trump IS a billionaire and has been in this circle his entire life - that his VP is a former venture capitalist employee and is a protege of billionaires, and that billionaires have key positions of influence and power --- and it isn't shocking at all.

The supporters of the policy would make an argument similar to Reagan - and that overall wealth growth can trickle down etc.

The other side of course is that with deregulation - with benefit cuts - with tax cuts for the super-rich and budgets still overall increasing - that this administration is possibly sowing the seeds for a massive voter revolt for a left-wing extreme candidate emerging to take power.

Things seldom go as planned though, so we will have to wait and see.

 

I think it might be possible to have a responsible government reserve of crypto with a clear plan on how it can hedge against known financial risks that the government faces. But I don't know of any government risk that is appropriately hedged by holding a position on crypto. Maybe if that could be explained.

More likely, this is at best some marketing puffery, maybe some speculation that inappropriately exposes taxpayers to risk, and probably just a giveaway to private speculators.

 

At this point . . . the question is . . . how can we all get in on the Grift



Rocket River

 

Rome has been burning since we kicked the can on the entitlement solvency crisis slated to peak in 15 years.

That will affect all of us, though they have a yuge and wide head start with zero roadblocks.

 

Join the party - parrot the talking points and get politically involved at the local level.

That potentially helps you - but know that fascism ultimately eats those that join their ranks that are minorities and lower on the social ladder.

So eventually women, black people and Hispanics will be pushed aside - at least if you go by history.

 

You have overnight Ukraine expert David Sacks and the billionaire lobbyist cadre lead by Andreessen Horowitz to thank for that.

 

NAH . . . I just want the money

Rocket River

 

The money is for the ultra ultra wealthy.

 

Well this is a form of the Roman republic, they've lasted 450 years before they've became an empire. The US should last longer than that, its just in a tough spot right now, but most of the world is.

 

That was a fun 12 hours of Pump& Dump (btc):

 

Her name is Nancy Pelosi. She has been doing it for years. But you don't give a **** because she has D next to her name

 

In terms of the crypto policy (not Bitcoin), there is no trickle to even come down. It's just a wealth transfer from the stupid and degenerate to the powerful.

Personally I think if you put your money into valueless **** that you don't understand and you lose it, you got what you deserved. That being said, the United States government has absolutely zero ****ing business doing that.