"Chris Hayes broke down a plan by Republican legislators to transfer billions of dollars of taxpayer money to owners of Bitcoin in exchange for their holdings." www.mediaite.com/tv/this-is-a... - ThreadSky

laureldavilacpa.bsky.social • 69 days ago

"Chris Hayes broke down a plan by Republican legislators to transfer billions of dollars of taxpayer money to owners of Bitcoin in exchange for their holdings."

https://www.mediaite.com/tv/this-is-an-enormous-heist-chris-hayes-sounds-the-alarm-on-republican-bill-that-would-transfer-100-billion-to-bitcoin-owners/?fbclid=IwZXh0bgNhZW0CMTEAAR3Zvp4RJ80XbVxbj1o9PScSdRfC5y8z8wr0m-u1zNfYTHq8rRbeNWvvycc_aem_OQOhiexr7OdSNvvJ_iblTA

Comments

faithlessgrace.bsky.social•69 days ago

and in 20 years when bitcoin is worthless? I’m sure they’ll just give back that $100b with hugs and kisses.

patmat.bsky.social•55 days ago

👀

lynne-sails.bsky.social•69 days ago

Great thread to find all the cryto-idiots so I can block them!

didsabdad.bsky.social•69 days ago

I put it in my profile that if any crypto idiots followed me I would block them. Works like a charm as they seemingly love a challenge
Blockity block block block

alapini.bsky.social•69 days ago

😢😡😢

flatirons.bsky.social•68 days ago

This would crater the US government and economy, probably for good

jkdanthonyian10.bsky.social•69 days ago

After the endless rug-pull crypto scams I've seen in just the past year, how anyone would "invest" in this is insane to me.

digginsdweller.bsky.social•69 days ago

And simultaneously squashing the press so we don't learn about it

azeppieri.bsky.social•69 days ago

The fact they don't try to hide it is horrifically humiliating

lizmarks.bsky.social•69 days ago

The Bush mortgage savings and loan crisis/debacle wd be small change if this thievery of IS Treasury took place. They really are trying to turn US into impoverished 3rd world

twmcel.bsky.social•69 days ago

📌

rawaaalqadhi.bsky.social•69 days ago

If we stopped paying on a massive scale...what would they do?

grammyrulz.bsky.social•69 days ago

Trump wants to buy 1 million bitcoin at a price of 100,000 ...so that would be 100 billion of taxpayer dollars on something he and many of these Senators have already invested in?
Am I reading this right?

grammyrulz.bsky.social•69 days ago

Those bitcoin weirdos coming out of the woodworks...

john1677.bsky.social•69 days ago

Who establishes the exchange rate between bitcoins and trumpshoes.

tcshappyplace.bsky.social•69 days ago

OH, WHAT AN AWESOME PLAN 😳😳😳

happycavebat.bsky.social•69 days ago

This is insanity. Crypto is a high tech ponzi scheme and a pay for play by Trumpvangelicals that enriched themselves.

happycavebat.bsky.social•69 days ago

Unreal.

f150-93.bsky.social•69 days ago

One of several ways billionaires are trying to deliver us into a new sort of feudalism. Great for them; a hell scape for over 90% of us.

moonbeamsassafrass.bsky.social•69 days ago

I need to read/watch this but keep getting distracted!

unhipcat.bsky.social•69 days ago

fuck no.
They will try to steal our Fort Knox gold and leave behind their worthless crypto certificates. That is their plan.
go find some other suckers.

lucycat02.bsky.social•69 days ago

How to stop them, though...

unhipcat.bsky.social•69 days ago

good question. Will write my rep and senators. It seems obvious to me that they’re planning something along those lines.

andymac.amlm.us•69 days ago

I would rather watch them put that money in a big pile and set it on fire so we could dance around it and watch it burn. It would still be a better use of it than using it for bitscam.

starlightwishes.bsky.social•69 days ago

Republicans are the Biggest Thieves in the world.

experimental22.bsky.social•69 days ago

Hundreds of billions would be more accurate.

chicago21222.bsky.social•69 days ago

They want banks to change from the dollar to bitcoin. They told us this but yet, ppl voted for him. Hayes isn’t a fan of democracy either.

tommypotatoes.bsky.social•69 days ago

no1vermin.bsky.social•56 days ago

This may be the reason why the fat fk is trying to eliminate the FDIC!!
The banks could buy into Bitcoin and if they go broke, we're fkd...
He's attacking our savings for some reason and this is it...

riverroadband.bsky.social•69 days ago

The motivation for those advocating for an unregulated currency is to steal money. And this is exactly what Trumpers want to do.

toddwalker.bsky.social•68 days ago

The US government is the sucker of last resort.

cynful8.bsky.social•69 days ago

The morons in this country voted to get robbed by the rich. Idiots.

nattiepuff.bsky.social•69 days ago

repubs: "we shouldnt use taxpayer money to help the people, that's welfare!"

also repubs: "lets give billions of taxpayer money to dumbasses who bought into a ponzi scheme"

aszesq.bsky.social•69 days ago

I confess to not being an expert at the so-called “Byrdbath” rules: will they be able to pass this through reconciliation and bypass a filibuster?

vaughnw.bsky.social•68 days ago

See bitcoin isn't entirely worthless. It's invaluable as a means to launder money.

heatherlstockton.bsky.social•69 days ago

Holy shit.

lalegault.bsky.social•69 days ago

Wait, what?

arsather.bsky.social•69 days ago

nordicson59n.bsky.social•69 days ago

one of his biggest cons yet!

cafetelaviv.bsky.social•69 days ago

#Trump #cleptocracy in the making

mandyolivieri.bsky.social•69 days ago

I've always said Trump is to America as Judas was to Jesus. He's literally selling us out right now. We know what happens next.

cassiekey.bsky.social•69 days ago

Damn! They won't be wasting time.

fagankara.bsky.social•69 days ago

Wtaf

jamtribble.bsky.social•68 days ago

The new way to launder money- no one understands it and it’s difficult to show where the money goes. It’s unregulated theft, plain and simple.

juliemainstreeter.bsky.social•69 days ago

Hoping Democratic leadership starts messaging on this issue sometime soon

kenhes.bsky.social•69 days ago

It's looting time for Republicans.

blue4u65.bsky.social•69 days ago

Can they actually get away with this?

chicago21222.bsky.social•69 days ago

He can get away with everything because the voters didn’t vote for democracy. They voted for fascism and fascism they will get.

blue4u65.bsky.social•69 days ago

Not everyone voted for fascism.

chicago21222.bsky.social•68 days ago

More ppl did than not. So that’s cold comfort if one actually bothered to understand the stakes. We lived through it so there’s really no excuse. They will do whatever they want. They will do what they said they will do. That the first time wasn’t enough is sickening.

atheistoutloud.bsky.social•69 days ago

I can't imagine anyone with a brain not expecting serious grifting this time around. He was doing it in bits and pieces before but now thinks he has a mandate to steal. Those who sold their souls also expect to make a lot of money and don't care how it affects the rest of the country.

bookstorememoir.bsky.social•69 days ago

This is half of what I'm thinking about with the new administration. First is the human rights abuses. Second is these goons just looting the U.S. in every way shape & form.

bbqcornnuts.bsky.social•69 days ago

I wonder if they will ramp up human rights abuses to distract people from paying attention to the finances (I guess I know the answer to this.)

phillip-wiles.bsky.social•69 days ago

I half wonder if that's why there is this shift to scream about drones in NJ. Between Pete drinking and now this guy.
https://www.nytimes.com/2024/12/13/health/aaron-siri-rfk-jr-vaccines.html

bbqcornnuts.bsky.social•69 days ago

Oh that bitch. I am so ill thinking about. He’s going to try to ban everything that helps my rare disease and god, if there is another plague….

I think you’re right. They did a great job of distracting us last time.

ladyoutside.bsky.social•69 days ago

Wall Street has practiced with LBOs and PE to get this level of heist. Elizabeth Warren will have a lot to say about it. This is beyond outrageous.

kentparkskeet.bsky.social•69 days ago

But what can she do?

8t3v3n.bsky.social•69 days ago

Say things until they decide they don't want to hear opposition anymore.

kentparkskeet.bsky.social•69 days ago

That’ll teach ‘em.

catherinestp.bsky.social•69 days ago

Seeing as they no longer represent us, we need to stop paying federal taxes completely. And if they succeed in gutting some government offices and/or privatizing everything then we should demand all our money back, not put into a damn Ponzi scheme.

divinediscontent.bsky.social•69 days ago

If this were attempted, we need a great freeze on everything, saying hell to the no!

They act like crypto is of any use...

shasta714.bsky.social•69 days ago

I can’t bring myself to read the article. My head has been exploding from all the crappy news this week. We are doomed. F’n four years of hell.

justksmith.bsky.social•66 days ago

Pure theft proposed by Republicans

kimotetetata.bsky.social•69 days ago

So worrisome

mtbr1975.bsky.social•69 days ago

Odd how the mainstream media never covers such things… almost as if it’s intentional 🤔

ysosidious.bsky.social•69 days ago

We can’t marginally bail out students after a pandemic and in the face of 40+ years of neoliberal economic failures, but we must bail out an online Ponzi scheme used by crooks?

adeltha.bsky.social•69 days ago

Robbery in plain sight.

dom-ma.bsky.social•69 days ago

I wonder if Trump understands that this would send a lot of money to foreigners?

stparadise.bsky.social•56 days ago

We need The Pussy Galore Flying Circus to protect Fort Knox from Goldfinger again.

econrevirvine.bsky.social•69 days ago

All the NJ drone nonsense is just a misinformation campaign designed to distract us from crap like this. They’re going to rob this country blind.

lisapottery.bsky.social•69 days ago

I was wondering what they were trying to cover up with this drone nonsense. Fortunately trump has no creative thoughts. He just repeats his same game. Look over there while I do something unethical over here! He’s scum.

jadedgems.bsky.social•69 days ago

And use it to send themselves to Mars

andrewparrillo.bsky.social•69 days ago

I understand why some want to attach political importance to Bitcoin, but it should be viewed as a non-partisan asset like other commodities. Sen. Warren's hate for bitcoin has been manifest but unfounded in fundamental reason.

toddwalker.bsky.social•68 days ago

Because it’s a fucking pyramid scheme?

memzart.bsky.social•69 days ago

I knew this was going to happen. These crooks are going to bankrupt this country and destroy the planet in the process. 🤬💔🤬 I’m so upset for my kids and grandkids. 💔 Well, I’m so upset for everyone, really.

8t3v3n.bsky.social•69 days ago

Can you say collapsing the economy?

caporale.net•69 days ago

https://www.congress.gov/bill/118th-congress/senate-bill/4912/all-info WTF!!!!!!!!

anemiab.bsky.social•69 days ago

Chris did his part to get Trump elected. 🖕🏻 him.

zenlab.bsky.social•69 days ago

Very 'DOGE' of them...

mlorette.bsky.social•69 days ago

What the actual fuck?!?!

mlorette.bsky.social•69 days ago

we are screwed

betterboomer.bsky.social•69 days ago

Since when did the legislative branch specify requirements for investing tax dollars? They appropriate expenditures. Bitcoin is not an expenditure but a place for investment. Does the legislature require stocks to be bought in certain companies? Corruption for sure!

lynne-sails.bsky.social•69 days ago

That's why they're calling it a reserve. Govts make legitimate reserves of things...oil, or maple syrup. But when they do, it's because there could be a shortage (oil crisis, or bad mapling season which, personally I think is worse!) and that thing they reserved can be released in an emergency...

betterboomer.bsky.social•69 days ago

Bitcoin is alternate money, not a consumable. I suppose you could say it is like gold to back up the dollar but then one would ask what backs up Bitcoin? Eventually one needs to link to a physical thing to avoid circular referencing.

lynne-sails.bsky.social•69 days ago

Bitcoin is "alternate money" the way FOX News is "alternate news." Ie, it calls itself a thing, but is not really that thing at ALL. Not even remotely.

betterboomer.bsky.social•69 days ago

So it is not even a reserve if it is nothing…

lynne-sails.bsky.social•69 days ago

Nope, just a transfer of wealth to prop up rich tech bros' speculative investment in complete BS!

jinathhyder.bsky.social•65 days ago

Draining the swamp, one poor taxpayer at a time. Glad they voted for this circus.

fboomers.bsky.social•69 days ago

US Strategic Crypto Reserve is, not even close, the stoooopidest thing I've ever heard of.

permiepurveyor.bsky.social•69 days ago

*Bitcoin reserve

yam529.bsky.social•69 days ago

📌

fierceedward.bsky.social•69 days ago

Why not something safe and secure, like tulips?

anhos.bsky.social•69 days ago

At least there’s actually a tulip as opposed to nothing!

alanhowe.bsky.social•69 days ago

Everyone knows Putin is attacking western Democracies. Everyone knows Putin has used and is using Trump to attack American Democracy.

Everyone better wake up and fight back, or Putin is going to defeat us.

Read, share, and support the plan to defeat Putin.
https://www.dailykos.com/stories/2024/11/21/2287839/-We-Can-Stop-Trump?_=2024-11-21T11:19:50.000-08:00

cassiekey.bsky.social•69 days ago

Putin is also using millions of MAGA cultists, including MAGAGOP in Congress, to attack democracy. I'm reminded daily that none of this would be possible without the weakness and hatred of millions of Americans. We won't be able to fight this if we keep denying that we have a hate problem.

doktorhulk.bsky.social•69 days ago

Biden should have Trump arrested after the insurrection. Biden & the dems don't seem to care.

alanhowe.bsky.social•69 days ago

So we force Biden to act.

simpleniceness.bsky.social•69 days ago

Goldfinger 2.0

mshvan.bsky.social•69 days ago

@chrislhayes.bsky.social isn’t reporting this honestly. One of a thousand ‘look what Trump’s doing!!’ And it’s true. But NEVER mentions how Dems are fully on board, never

People don’t know, & if he & others had done their gd job, we may be in a different place entirely

The corruption is everywhere

lskyne2.bsky.social•69 days ago

No words!!!🤦🏽‍♀️🤦🏽‍♀️🤦🏽‍♀️🤦🏽‍♀️

justtrying.bsky.social•69 days ago

That's called exit capital. Once taxpayers are holding the bag, you dump.

justtrying.bsky.social•69 days ago

This is much more efficient than paying for Superbowl commercials with Matt Damon.

netmojo.ca•69 days ago

The Lummis bill specifies purchasing 1 million BTC over 5 years. So it would be a gradual process at a wide range of prices, mostly higher than $100k. They’d likely use the government’s Coinbase account and buy from the global bitcoin market, which trades over $100 billion per day, and growing.

anymouse.bsky.social•69 days ago

This is just theft from the US Treasury to make Bitcoin whales richer.

netmojo.ca•69 days ago

70% of the supply is held by individuals, and wallets that hold less than 1 BTC are the majority.

The SBR is about claiming a leadership position in the future world reserve capital network. Saylor does a good job of explaining here:

https://youtu.be/pQ7fjpqzUS4?t=758&si=JsI2g9nOX2aRRJ7u

infynty.bsky.social•69 days ago

📌

whiterabbit808.bsky.social•69 days ago

real distribution of BTC is more top heavy than you suggest, but probably not much different than any other liquid/speculative asset class. https://insights.glassnode.com/bitcoin-supply-distribution/

netmojo.ca•69 days ago

Interesting. I wonder which category “exchanges” falls under. The last year on that chart is 2020, the end maybe being 2022.

I was going by this recent analysis by River Financial & BitcoinTreasuries, which I think is more comprehensive.

whiterabbit808.bsky.social•68 days ago

I read the River article too, and spent some time a while ago trying to reconcile the data. I concluded that wallet/address distribution can only give an oblique view of actual ownership distribution. But that wallet data is all we can see... I decided the 80/20 Rule is probably good enough.

weremensh.bsky.social•69 days ago

The important question being: how many mills on the hundred dollar bill will the Republicans laundering those worthless bitcoins into real money take as a transaction fee? They usually commit treason for embarrassingly low rates, and it's hard to see them stopping now.

whiterabbit808.bsky.social•68 days ago

Bitcoin has appreciated from 0 to $100K with no help (and a fair bit of resistance) from the US government (which happens to be in $35Trillion of debt with no end in sight)

Bitcoin does not need the US Government. Perhaps the US government needs bitcoin? (this has nothing to do with asswipe Trump)

rodin20583.bsky.social•69 days ago

I presume this is true, as it tracks with other indications of what the Trump Administration will actually prioritise.

Donald Trump (and his Republican colleagues) are going to do enourmous favors for billionaires, who will respond in kind.

And Trump will become richer than he ever imagined.

flocktoblue.bsky.social•69 days ago

🌸🌸🌸🌸 these 🌸🌸🌸🌸ing people!
🇺🇸

jadedgems.bsky.social•69 days ago

Ok, I'm using flowers instead of * from now on, this is brilliant and also beautiful.

And yes 🌸🌸🌸🌸 them indeed.

catahula.bsky.social•69 days ago

Me too. Love it.
🌸🌸🌸🌸 those people, so 🌸🌸🌸🌸ing hard.

flocktoblue.bsky.social•69 days ago

Yay! I’m loving this! Kind of
🌸🌸🌸🌸ing loving it! 🙏❤️👊

flocktoblue.bsky.social•69 days ago

Yay! Love it! Started it in the previous location!

Comments

Posting Rules

Reply