Saylor says, "...You will demonetize the entire gold asset class and our enemies hold gold in their banks. So their assets would go to zero."
This is nonsense, and it reveals that worldwide, he lacks an understanding of the nature of value, money, and the reasons behind valuation. If Saylor and the US government decided that gold was valueless, approximately 9 billion other people around the world would be happier because they would have better prospects of owning gold and silver, which would require fewer currency units to purchase. So, globally, most people might, if they knew what he was talking about, support his ambition, although most would probably lack understanding and so should stay away. The world would be happy, but the US and Saylor would sink virtually alone into a cyberspace swamp.
The two things worldwide that most people most value for a myriad of reasons are gold and silver, with silver being the most valued commodity after water and food, as it is the most beneficial thing for most people to possess globally. Gold has more value, but is beyond the reach of most people who have very little wealth and very few things to trade at that value. However, they doubtless know it's valuable because they could probably purchase a home with a small quantity of gold. Picture yourself asking people in all 195 countries which they think is more valuable, beneficial or useful to them: Bitcoin, gold, or silver. While the winner in this might be debatable, the loser is obvious: Bitcoin.
Around 9 billion people would love to have some silver or gold, while those who value and can use Bitcoin remain in the mere lower millions, despite most people globally having access to a smartphone. Who values Bitcoin, to what degree, and who globally can trade it for anything? Almost no one on the global level of 195 countries. It's nearly valueless on a worldwide level.
Saylor cannot see that Bitcoin has no real value outside the narrow world of high tech, El Salvador and the Central African Republic. He needs to trek across the globe a bit to obtain a clearer perception of the world in which we live, and to understand the most valued and therefore most valuable things in the world. He is swimming in an ephemeral cyberspace world and would take the entire US into his virtual, immaterial world with him.
My advice: Keep your feet on the ground and don't lose sight of what the most valued and therefore valuable things in the world are.
Thanks. Good context for a very complex set of maneuvers. A lot of moving parts. Scott Bessent and Stephen Miran, plus others in the Adm, surely know what they're doing and seem to have a plan for such a major reset, but a lot can go off the rails at any moment. Nevertheless, the debt problem is so massive that urgent, maybe even reckless, action seems to be called for. We can't just keep kicking the can down the path, not if we care about our children and future progeny. Surely, if they're moving forward with such a plan they must have Trump's full understanding and commitment because he sees it as important for the same reasons, i.e the future security and prosperity of our families/descendants.
Lau - thx for bringing this to our attention. Sounds likely to me. The govt will probably use their crypto of choice to make transfer payments to welfare recipients, then Medicaid recipients and SNAP recipients, then social security recipients, and up the line to federal employees.
Saylor must be worried about his holdings and would like Mr. T to take some off his hands, with gold please! Trump is smart enough to stay in the gold game if other players try to opt out of his crypto maneuver by linking to gold.
As far as the US government’s moral capital account, it was depleted a while back and is about to get a hellacious margin call.
Fiat currencies always become worth their intrinsic value of zero and all democracies end in bankruptcy and tyranny. Making the US debt a global Ponzi scheme will push the rest of the world into another reserve currency or perhaps back to Gold. The transition from bankrupt democracies to tyranny include a culture where no honest politician is electable which is essentially now the situation in most of the western world.
Saylor says, "...You will demonetize the entire gold asset class and our enemies hold gold in their banks. So their assets would go to zero."
This is nonsense, and it reveals that worldwide, he lacks an understanding of the nature of value, money, and the reasons behind valuation. If Saylor and the US government decided that gold was valueless, approximately 9 billion other people around the world would be happier because they would have better prospects of owning gold and silver, which would require fewer currency units to purchase. So, globally, most people might, if they knew what he was talking about, support his ambition, although most would probably lack understanding and so should stay away. The world would be happy, but the US and Saylor would sink virtually alone into a cyberspace swamp.
The two things worldwide that most people most value for a myriad of reasons are gold and silver, with silver being the most valued commodity after water and food, as it is the most beneficial thing for most people to possess globally. Gold has more value, but is beyond the reach of most people who have very little wealth and very few things to trade at that value. However, they doubtless know it's valuable because they could probably purchase a home with a small quantity of gold. Picture yourself asking people in all 195 countries which they think is more valuable, beneficial or useful to them: Bitcoin, gold, or silver. While the winner in this might be debatable, the loser is obvious: Bitcoin.
Around 9 billion people would love to have some silver or gold, while those who value and can use Bitcoin remain in the mere lower millions, despite most people globally having access to a smartphone. Who values Bitcoin, to what degree, and who globally can trade it for anything? Almost no one on the global level of 195 countries. It's nearly valueless on a worldwide level.
Saylor cannot see that Bitcoin has no real value outside the narrow world of high tech, El Salvador and the Central African Republic. He needs to trek across the globe a bit to obtain a clearer perception of the world in which we live, and to understand the most valued and therefore most valuable things in the world. He is swimming in an ephemeral cyberspace world and would take the entire US into his virtual, immaterial world with him.
My advice: Keep your feet on the ground and don't lose sight of what the most valued and therefore valuable things in the world are.
Thanks. Good context for a very complex set of maneuvers. A lot of moving parts. Scott Bessent and Stephen Miran, plus others in the Adm, surely know what they're doing and seem to have a plan for such a major reset, but a lot can go off the rails at any moment. Nevertheless, the debt problem is so massive that urgent, maybe even reckless, action seems to be called for. We can't just keep kicking the can down the path, not if we care about our children and future progeny. Surely, if they're moving forward with such a plan they must have Trump's full understanding and commitment because he sees it as important for the same reasons, i.e the future security and prosperity of our families/descendants.
Outlaw gold (again) ?
Lau - thx for bringing this to our attention. Sounds likely to me. The govt will probably use their crypto of choice to make transfer payments to welfare recipients, then Medicaid recipients and SNAP recipients, then social security recipients, and up the line to federal employees.
Saylor must be worried about his holdings and would like Mr. T to take some off his hands, with gold please! Trump is smart enough to stay in the gold game if other players try to opt out of his crypto maneuver by linking to gold.
As far as the US government’s moral capital account, it was depleted a while back and is about to get a hellacious margin call.
Fiat currencies always become worth their intrinsic value of zero and all democracies end in bankruptcy and tyranny. Making the US debt a global Ponzi scheme will push the rest of the world into another reserve currency or perhaps back to Gold. The transition from bankrupt democracies to tyranny include a culture where no honest politician is electable which is essentially now the situation in most of the western world.
Anyone that has crypto, or follows crypto news knows this. XRP, and a few other stablecoins will be uitilised.
Buy now while cheap....