IF DONALD TRUMP’S sweeping global tariffs send household good prices soaring and drive the economy into recession, at least one industry could profit.
The Trump administration is considering using tariff revenues to buy Bitcoin for a “Strategic Bitcoin Reserve,” a top administration crypto official said in an interview last week.
The White House’s proposal is driving interest from crypto industry figures who have made building the reserve one of their top priorities.
It is uniting critics on the right and left, however, who have cast the reserve as a pointless industry giveaway that will come at the expense of ordinary taxpayers. Using tariff money would add insult to injury, they say.
Wasn’t bit coin suppose to be decentralized currency? Wtf is it even, now?
A scam
That’s one way to take make money…
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Buy a bunch of personal bitcoin
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Announce that the government is buying a ton of bitcoin
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Wait for the value to surge
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Sell your bitcoin at the new inflated value
You forgot the part where they take all the government purchased Bitcoin and cash that out to personal accounts.
They could literally steal billions of dollars this way… It’s terrifying.
There is no point to taking the extra strep of buying Bitcoin when they steal government funds to personal accounts.
If they’re already doing that, sure. Though that is harder to cover the tracks of.
Whoa whoa whoa whoa whoa… “COULD”??? We both know that they WILL do that, given the chance. The Fash Trash are opportunistic parasites, after all.
They already freed up a bunch of seized bitcoin and called it a “reserve.” Wtf is government suppose to do with bitcoin? Buy mercenaries on the deep web?
I mean, Bitcoin is an appropriate currency to use as a reserve, that’s not misguided. The problem is that they can’t be trusted with access to the funds.
With bitcoin basically a stand in for the dollar these days, what would the purpose of that be?
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If they’re leaking this now, they have already purchased their personal “investments” to dump in exchange for tax (tariff) dollars.
I’m sure there’s no way this could backfire.
Oh and you know it’s really all Elon’s idea.
If this regime has the government buy crypto; the government will lose access to it. These people will either “lose the encryption codes”, actually loose the encryption codes, steel it, let it be stolen, ect…
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Why do we let the dumbest motherfuckers decide anything, ever?
Because your “opposition” politicians and voters are cowardly as hell?
Because they’re the popular kids!
And they’re rich.
I’m not saying these are good reasons, just that they’re reasons.
more like they have the cops in their pocket
We keep letting capitalism rule the world
Because nobody is putting bullets into people.
Honestly, using the country’s surplus to fund a sovereign wealth fund like Norway instead of throwing it into the black hole of the military industrial complex seems like it would be a pretty good idea.
Too bad they’re stealing taxpayer dollars through tariffs to throw into the additional black hole of crypto market manipulation instead.
There’s no surplus, even with the extreme tariffs that trump is pushing. Given the economic destruction that they’re likely to cause, they’re probably a net loss for the treasury (and certainly are if one considers the damage that they’re doing to the IRS).
The reasons that the ‘sovereign wealth fund’ idea keeps coming up are:
- All of the cool authoritarians have one
- trump really, really, wants a slush fund to grift off of
That’s it.
The country absolutely has an enormous surplus, it’s just that we waste it all on military contracts with little to no return.
The only problem is that the U.S doesn’t really have a trade surplus to put in that fund.
I wasn’t talking about a trade surplus - I was talking about the huge amount of extra money that we throw away every year on wasteful, nepotistic military contracts with little to no return.
Right… So what happens is you dump money into it, the government then dumps money into it, you cash out, then the government is out money and you grain money… Assuming you have capital to fuck around with prior.
…except the thing you cashed out into is undergoing rampant inflation.
All the people panic-selling their investments are just reinvesting in USD
I’m not sure that’s sound investing advice…
Not quite. They’ll pull the rug before you get to cash out.
you grain money
Is that why the kids have been calling money “bread”?
Dough
Oh look, another buy-the-dipshit
GME ahead of the game somehow. Would be nice if we could benefit from the pump/dump.
Everything Trump touches turns to shit. Just ask how his casinos, steaks, planes, hotels, university, and rape victims are doing.
Shouldn’t they be paying down that debt they are increasing. Esepcially since they are driving foreign companies to not buy it.
Would’nt dogecoin be more efficient?
/s
Hah. Yeah, put your money where your mouth is! I fucking dare you!
Put all your money into that worthless joke!
It’s gonna be $DOGE.
To the moon! 🚀 🌙 👊 🇺🇲 🔥
seems like a great way to siphon off the cash
Yeah, we can’t let them do this… Bitcoin is electric cash, once they have public funds in Bitcoin, they have turned it into private funds, they’ve already pocketed it. We can’t let them steal from the country like that…
I’m assuming the plan is to buy bitcoin from themselves and their friends with taxpayer cash. They don’t care about the bitcoin after that. They’ll have the cash.
That’s not a great assumption. He doesn’t need to take the margins on an increased value of Bitcoin, maybe making 20% on a quick investment… he could take the Bitcoin itself! Instead of making 20% on the money that he and his cronies put in, he could make 100% on the money the NATION puts in… It’s the difference between millions and many billions!
This is a much bigger deal than a pump and dump scam! Bitcoin is cash, he could convert it into any currency in the world whenever he wants. It’s instant money laundering.
I still like it better than another bailout for banks, who over levered for short term profits to attain their bonuses.
How high are you right meow?
Very. But I disagree with the other guy.
Better? You like eating shit better than eating rotten assholes?
Thanks for sharing…
I still like it better than another bailout for banks
Two wrongs don’t make a right.
You think they’ll pay it all back with interest?
