New from @byjustinmiller.bsky.social: Republicans want to stamp the State of Texas’ seal on Bitcoin by creating a “strategic reserve” that could use taxpayer dollars to purchase cryptocurrency.
Comments
Log in with your Bluesky account to leave a comment
The value of money has been faked by the Fed Reserve ever since it was taken off the Gold standard.
Electronic numbers on a computer screen are all hogwash that rigs the stock market from day to day off of "estimates & predictions by hired economists 😜
That's a completely idiotic move. There is zero evidence that BitCoin does well in times of uncertainty. The Tech Bros & criminals love BitCoin. Drug runners, too. The whole hyped Market Cap of BitCoin is 1/2 of Apple. Why not a strategic reserve of Apple shares?
Agreed, it is much, much better to open yourself to massive liquidity issues, transaction costs, North Korean hackers, Meme Coins & Tech Bros in love with Algos, Blockchain & DAO frauds. Plus, Texas loves Government fraud. It's a hobby.
Texas will safeguard your tax dollars in the most volatile, fraud ridden thing they can find. We are one cycle away from them telling us they will double our money playing blackjack.
First it was gold for conservatives, which - despite not doing anything productive - at least has intrinsic value. Now it's mindless "lines goes up" thinking looking at price charts, deactivating basic critical faculties such as "what does this thing actually *do*?"
What stands out to me in this article is that Texas legislators foresee the dollar tanking. They're not only okay with that, they appear to be openly cheering it on.
“Governor Greg Abbott even suggested interest, posting an emoji on X expressing ocular intrigue as the Senate bill was filed in early February.”
These are not serious people.
They keep kissing the ring. I recall when son,Bush wanted to take social security and invest. What shape would we have been in when the stock market crashed? Things went under in 2008. Banks went under! Do we really want to make a leap for bitcoin? I don’t. I’m not in Texas. I do pay taxes.
Comments
Oh, wait ….
Electronic numbers on a computer screen are all hogwash that rigs the stock market from day to day off of "estimates & predictions by hired economists 😜
All cryptocurrencies directly compete with the US Dollar.
In other words,
🚨🚨🚨THEY ARE PLANNING TO STEAL YOUR LIFE’S SAVINGS🚨🚨🚨
Money for an intangible asset that also boils the ocean? ✅
Please, no.
These are not serious people.