Bitcoin Booster for Commander in Chief

ph1l

ph1l

https://www.thestreet.com/cryptocur...to-back-dollar-with-bitcoin-end-bitcoin-taxes
RFK Jr. Announces Bold Plan to Back Dollar With Bitcoin, End Bitcoin Taxes
Speaking at a Heal-the-Divide PAC event, Democratic Presidential Candidate Robert F. Kennedy Jr. outlined specific Bitcoin-focused policies that he would enact as president, including gradually backing the U.S. dollar with bitcoin and making bitcoin profits exempt from capital gains taxes.

  • during a speech at the Bitcoin 2023 conference in May, which included “defending the right of self custody of bitcoin,” upholding “the right to run a node at home” and defending “industry-neutral regulation of energy.”

    growth rate of 6.5% in national debt over the past decade makes the case for forward-looking and comprehensive fiscal strategies from the highest office. Against this backdrop, Kennedy’s proposal for the U.S. Treasury to acquire assets such as bitcoin and precious metals is an approach that’s meant to offer an insurance policy against the country’s mounting debt.

    Dylan LeClair of Bitcoin Magazine, the oldest and most established source of news, information and expert commentary on Bitcoin, its underlying blockchain technology and the industry that has been built up around it.

    Full text of the Heal-The-Divide PAC press release follows this story.
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Great idea -- a tax break for Bitcoin Billionaires and a U.S. government guaranteed floor for Bitcoin!o_O
 
Backing the U.S. dollar with an unreliable, VOLATILE
asset, who's price is moved outside the control of
our Government. The very concept is beyond stupid.
 
"..."Fiat currency was invented to fund wars,” he said. “I like base currencies because they make it more difficult, you have to go to the public. You can't just print money to fund the war and tax the public through the hidden tax of inflation. You actually have to go to the public and say, ‘Here's what this war is going to cost.’”

What the hell is he babbling about here? Fiat was invented for war funding? Not sure that is what Woodrow Wilson had in mind.
 
Overnight said:
"..."Fiat currency was invented to fund wars,” he said. “I like base currencies because they make it more difficult, you have to go to the public. You can't just print money to fund the war and tax the public through the hidden tax of inflation. You actually have to go to the public and say, ‘Here's what this war is going to cost.’”

What the hell is he babbling about here? Fiat was invented for war funding? Not sure that is what Woodrow Wilson had in mind.
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There is some historical precedent to his viewpoint. Several countries (USA, UK, France, Germany, Italy, Austria) suspended gold convertibility for their currencies to fund World War I.

Wouldn't it be much more difficult politically for the U.S. to send $100B to Ukraine if it required spending cuts of $100B elsewhere or raising taxes by $100B? Fiat doesn't hold Congress's feet to the fire the way a backed currency would.
 
Overnight said:
"..."Fiat currency was invented to fund wars,” he said. “I like base currencies because they make it more difficult, you have to go to the public. You can't just print money to fund the war and tax the public through the hidden tax of inflation. You actually have to go to the public and say, ‘Here's what this war is going to cost.’”

What the hell is he babbling about here? Fiat was invented for war funding? Not sure that is what Woodrow Wilson had in mind.
More...

Things above our pay grade ON.
 
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