Isn't it kind of like the Federal Reserve money? Just valued by other human beings and we, the humans, have to pay interest on the loan-and that mounts up and up over the years. I hope President Trump does this and settles our debt to ZERO!
It's like saying, "We created this trillion dollar coin. Here's 37 of them, so our debt is now paid, right?"
And if a coin could really be converted into a trillion dollars, what would that mean for inflation?
And, I know it's not as simple as the above. So can someone please explain how it is even possible to pay of the US debt bia crypto? Is he doing a pump and dump? Launch a token, see it go to the moon and then use the new value to pay off debt?
I am curious... will the gov's crypto be taxed, or jus ours? Oh, right... dumb question.
BTC is hardcapped 21 Million tokens, bout 20 million is mined... It definitely does not a have a million btc in liquidity... that last million to mine also gets exponentially harder to mine too
Probably means low interest rates, lots of quantitative easing, people panicking, etc. But that’s inevitable, regardless of whether BTC exists or not because our economy is based on fiat and fractional reserve banking.
BTC changes the game, and offers a life raft to the little people (us). Instead of getting fucked by inflation, as is the usual deal, we can actually make a profit off it. We can make Babylonian money magick work for us rather than impoverishing us.
It also increasingly acts as a financial counterweight in the larger economy. It might even provide enough stability to prevent the crash and utter destruction of fiat, ironically. If the US gov becomes debt free because the USD collapsed, is that cause for panic? Seems like an ideal time to introduce greenbacks that are backed by gold and BTC. Don’t attack the Fed, make it irrelevant/obsolete.
Who the fuck has $35 trillion to loan America? The largest holders are private investors, followed by the Federal Reserve, and then foreign governments such as Japan, China, and the United Kingdom. We should not owe one George Washington dollar to England.
That's what I've been sayings for yrs. Why do we have to pay back money that was stolen from us & given to the cabal, seize all their assets (including those that betrayed us) & give it back to us. The EO should do it for us. What would the total be going back to 1913+ %?
Every single American should be against the federal reserve. They aren’t. Bare minimum it should be over 75%. The percentage has to be higher than it was 15 years ago but I doubt it’s that high.
For instance, a Pew Research Poll found that the Fed had one of the lowest favorable ratings among government entities, and a YouGov poll showed that 48% of Americans do not trust the Fed to effectively manage the economy.
NEW POLL: Voters Distrust Federal Reserve - Voters believe the Federal Reserve is on the side of big business (38%), banks (38%), and Wall Street (30%). Less than 1 in 5 across partisan lines think the Federal reserve is doing a good job at controlling inflation.
Voters believe the Federal Reserve is on the side of big business (38%), banks (38%), and Wall Street (30%). Less than 1 in 5 across partisan lines think the Federal Reserve is on the side of average Americans.
About 4 in 10 voters (42%) nationwide have little to no confidence in Federal Reserve Chairman Jerome Powell doing what is right for the U.S. economy, including 20% who have no confidence at all and 22% who have a little confidence in him.
A majority (56%) of voters across demographic subgroups want the Federal Reserve to stop increasing interest rates before it triggers a recession. More than three quarters of voters say we should be focusing on the legislative tools Congress can use to fight inflation.
More than three quarters believe our economic leaders must focus on full employment and building an economy that works for all rather than taking overly aggressive actions that push the economy into a recession.
The poll was conducted by Lake Research Partners from January 27th through February 5th, 2023. The survey reached a total of n=1,240
Notice, POTUS referring to Bitcoin, said “when you look at where it came from…”
Reference to its creation by NSA white hats?
I think the writing it down as 35 trillion was a joke, but he might be referring to its potential to make big gains (esp. if govs start buying, competing w/ each other) and if the US gov has a bunch of BTC then there’s no reason to even sell. Simply hold it as an asset and the gov’s suddenly not in debt anymore.
I wonder how much seizures could total. And how much was spent on the overthrow attempt that could be erased by the 14th amendment due to insurrection or rebellion. That alone accounts for much of the spending from the 20th century till now.
If Bitcoin is generated by data packaging and a block chain is the package.....who values the package? Who wants the data?
If Stablecoin is backed by the US dollar and the dollar is losing its buying power , what is Stablecoin worth?
Gold rises and the dollar loses....nobody benefits except the government in refinancing the accepted inflation.
It's a confidence game....which do you have confidence in?
Do it!!!
Literally backed by nothing but the belief it's worth something!
It's time to cornhole the cornholers...
Corn...
u/#popcornbutthead
...holio!!!
Heh! Heh!
https://youtu.be/U7UBy1usnrg?si=nYJNU7HyvrGzFY0e
Bitcoin is backed by something.
Auditability, portability, divisibility.
Same as fiat but unlike fiat, it can be audited.
Something it’s missing: speed.
Well Trump turning crypto into a promissory note sure would speed it up.
Trump’s words, “I’ll write it on a little piece of paper. 35 Trillion crypto, we have no debt.”
Isn't it kind of like the Federal Reserve money? Just valued by other human beings and we, the humans, have to pay interest on the loan-and that mounts up and up over the years. I hope President Trump does this and settles our debt to ZERO!
Name checks out...
Wiggle side to side for us...
u/#taunt
Have you seen the mod logs?
What’s gold backed by?
God.
Gold, it's a precious metal and always in demand, have you seen the Oval Office?🤭
This is what I was talking about in my post.
What does this mean?
It's like saying, "We created this trillion dollar coin. Here's 37 of them, so our debt is now paid, right?"
And if a coin could really be converted into a trillion dollars, what would that mean for inflation?
And, I know it's not as simple as the above. So can someone please explain how it is even possible to pay of the US debt bia crypto? Is he doing a pump and dump? Launch a token, see it go to the moon and then use the new value to pay off debt?
I am curious... will the gov's crypto be taxed, or jus ours? Oh, right... dumb question.
It means you create a bitcoin reserve, buy a million btc, those million btc becomes worth $100 trillion, then you exchange all debt for btc.
And then destroy the federal reserve and make government debt illegal.
BTC is hardcapped 21 Million tokens, bout 20 million is mined... It definitely does not a have a million btc in liquidity... that last million to mine also gets exponentially harder to mine too
Exactly why owning 1 million brings the value to 100 trillion
That could work, but what does it mean if BTC has inflated that high? What is the status of the economy?
Probably means low interest rates, lots of quantitative easing, people panicking, etc. But that’s inevitable, regardless of whether BTC exists or not because our economy is based on fiat and fractional reserve banking.
BTC changes the game, and offers a life raft to the little people (us). Instead of getting fucked by inflation, as is the usual deal, we can actually make a profit off it. We can make Babylonian money magick work for us rather than impoverishing us.
It also increasingly acts as a financial counterweight in the larger economy. It might even provide enough stability to prevent the crash and utter destruction of fiat, ironically. If the US gov becomes debt free because the USD collapsed, is that cause for panic? Seems like an ideal time to introduce greenbacks that are backed by gold and BTC. Don’t attack the Fed, make it irrelevant/obsolete.
Who the fuck has $35 trillion to loan America? The largest holders are private investors, followed by the Federal Reserve, and then foreign governments such as Japan, China, and the United Kingdom. We should not owe one George Washington dollar to England.
That's what I've been sayings for yrs. Why do we have to pay back money that was stolen from us & given to the cabal, seize all their assets (including those that betrayed us) & give it back to us. The EO should do it for us. What would the total be going back to 1913+ %?
The constitution says we have to pay our debts.
It can be done.
We need a new amendment that bans private central banking and bans government debt
We kinda need the people to not be stupid.
Every single American should be against the federal reserve. They aren’t. Bare minimum it should be over 75%. The percentage has to be higher than it was 15 years ago but I doubt it’s that high.
Theres a reason they took over the department of education and medical schools in 1913
The Fed.
https://youtu.be/DUrlNHTxuJM?feature=shared
If the fed is dissolved does the debt disappear?
Other countries hold our debt.
Regular people hold a little bit of our debt.
It's not so simple as to say "I'm simply not paying back the credit card"
So do it then.
I can barely keep a roof over my head. I have no idea what I'm gonna do for christmas.
Being that the NSA created bitcoin i can believe it
https://nitter.poast.org/patriotUG2023/status/1981883065833247146
Not if he keeps crashing it with ill-timed tweets.
You do realize if this were to happen and the dems got back in, they would say that was nonsense and reinstate the 37 trillion but with interest.
can I stop paying income taxes, then?
Notice, POTUS referring to Bitcoin, said “when you look at where it came from…”
Reference to its creation by NSA white hats?
I think the writing it down as 35 trillion was a joke, but he might be referring to its potential to make big gains (esp. if govs start buying, competing w/ each other) and if the US gov has a bunch of BTC then there’s no reason to even sell. Simply hold it as an asset and the gov’s suddenly not in debt anymore.
I wonder how much seizures could total. And how much was spent on the overthrow attempt that could be erased by the 14th amendment due to insurrection or rebellion. That alone accounts for much of the spending from the 20th century till now.
If Bitcoin is generated by data packaging and a block chain is the package.....who values the package? Who wants the data? If Stablecoin is backed by the US dollar and the dollar is losing its buying power , what is Stablecoin worth? Gold rises and the dollar loses....nobody benefits except the government in refinancing the accepted inflation. It's a confidence game....which do you have confidence in?
Everyone in this posts saying it's BTC
It can be any crypto
So what happens if we pay off our debt in one fell swoop?
Pretty sure he was joking. For now.
You never know with PDJT, he drops a lot of truth in his comments...
He’s not joking. It’s doable.