The U.S. Wants to SELL Its GOLD Stack for THIS?!

[@TheQuickSilver101]

Selling gold for bitcoin is completely idiotic. It's pretty much what I expect from politicians, though

[@TheQuickSilver101]

@@yourneighborhood If you say so, champ

[@TheQuickSilver101]

@@yourneighborhood I understand Bitcoin and blockchain tech just fine. I just think selling gold to but Bitcoin is foolish. Expecting that they're going to pay off the national debt with it is completely idiotic

[@slekzieds]

The money that circulates as currency is the least valuable asset that merchants will accept in trade. Gold is the valuable and cumbersome money that gets horded, while bitcoin settles globally quicker and cheaper without any counterparty risk. If a nation wants to buy stuff and not pay with gold then they'd be smart to get bitcoin while it is still cheap.

[@slekzieds]

It was the idiotic politicians that had restrained innovation in this "land of freedom". It is the business minded common sense that are now reclaiming basic rights and allowing innovation into currencies that compete with fiat (violence backed) money.

[@johnbethea4505]

If they want to sell gold, they should use it to pay off their debts.

[@abraham3981]

Whatever gold the us has or had in reserve has already been hypothecated by the bankers, even if it is still stored at fort knox or not. So it cannot be used to pay debts since the equitable ownership is not in the gov or the people hands to use as payment for debt. Why do you think they are still lending us fed notes even though the gov is 34 trillion dollars in debt plus interest. Heck, the future potential workforce of little children has already been taken too so that the country can continue to borrow money into circulation right now.

[@mattmatt6572]

Exactly I tell all pay off debts befor u invest in anything. I don't live in debt and I find it sickening that the goverment takes out debt on my behalf.

[@douglashewitt5064]

Absolutely yes. Pay off our debts so they have no money. China will be the country that buys all our gold. I wonder why? 😮

[@johnbethea4505]

@mattmatt6572 years ago, before credit was a norm, we had to have cash to buy things. We didn't have much, but what we had was ours.

[@scotth5237]

@@mattmatt6572 not possible to pay off the debt

[@bonnieupton4114]

Just when you think it can't get crazier........

[@travdripdrip382]

Seriously! Lol. After the last four years, nothing surprises me.

[@BA-lt2tx]

Stupidier is more like it... :)

[@tymcfadden8496]

I've read two articles on this over the last few days. The gist of both was that this idea would be catastrophic in the long run. The U.S. government already owns 2 billion USD in bitcoin, acquired from asset forfeitures, and other legal settlements.

[@bonnieupton4114]

Interesting

[@jaynawilliams8923]

There is no accounting for insanity.

[@101jody]

I don't understand Bitcoin. What exactly is a bitcoin? What is it made of and how is it used? Why do people think it has value? Where is it stored and who is in charge of it? I'm so confused.

[@KurtOnoIR]

No you're not confused. It's as ridiculous as it sounds. You can make some profit on it for now tho. It's made of pixels on a screen, code in cyberspace . It's not a great idea in my opinion unless you plan on jumping in and getting out. Why do people think it has value? That's a good question, it has value because people think it does. It did originally have some appeal. The original idea of it has already been squashed. It was supposed to be a currency outside the system and untraceable. That is no longer the case. It doesn't make a lot of sense anymore. Now it's more akin to a massive pyramid scheme where a scheme was not the intent. It will be counterfeited one day. Then everyone jumps ship and the last to act hold the empty bag.

[@kevinhickey4442]

​@@yourneighborhoodfunny how you say "it's as stable as they come" yet offer 0 explanation as to why, how, who, which was asked. You must of been a Kamala supporter if that is how you debate or explain a specific situation. "Just believe me, cause vibes." The burden of proof is still in your hands. We are waiting with silver and gold in our.

[@stephan4921]

If you want to understand how Bitcoin works, you first have to understand how the blockchain works. At its core the (Bitcoin) blockchain is basically a shared, digital ledger that keeps track of every Bitcoin transaction. So called miners 'mine' Bitcoin, which in reality just means they process transactions on the blockchain and get rewarded with Bitcoin. This is a very simplified explanation. Bitcoin was never meant to be untraceable, since by design every transaction is forever recorded in the blockchain for everyone to see, it's literally the exact opposite. To answer your question as good as I can: Bitcoins are digital tokens that are recorded in the blockchain. It's not really 'made' of anything, it's digital and hardware agnostic, it's data. Maybe think of it more as a concept, not a thing. People use it for different purposes, but I believe the majority see it as a speculative investment instrument and some use it for its utility. I'm not going into why people think it has value, there's too many subjective opinions, but I can give some example why it might have value to some people: The blockchain is a censorship resistant value transfer network and Bitcoins cannot be easily seized or counterfeited, are a borderless, basically infinitely divisible store of value and require no trusted third parties like banks. I'm not saying Bitcoin is perfectly safe, but that's a whole other topic I'm not going to delve into. I already kind of answered where it's stored (as a series of transactions in the blockchain, which itself is stored on storage devices like SSDs and HDDs) and I guess you could say that the people who are mining Bitcoin are 'in charge' of maintaining the network, but there's no central authority in charge of Bitcoin (at least on paper).

[@SilverSeeker]

Your argument is flawed, man… crypto depends way too much on theoreticals and hope to argue it’ll always be stable. Crypto has only been around for a blink of an eye in the grand scheme of things, and yet people act like it’s been tested for centuries. All it’s really proven is that people will chase anything they think will make them rich-that’s literally how pyramid schemes thrive. Sure, I’m glad you’ve done well for yourself, but claiming it’s “stable”? LOL… Also, Quantum PCs aren’t some distant sci-fi fantasy; they’re closer than you think, and once they’re here, they’ll wreak havoc on blockchain security. Hackers will exploit vulnerabilities on a scale we’ve never seen before. It’s gonna be a wild ride, so enjoy it while it lasts!

[@brokenhub7656]

I’m a crypto guy and I think it would be a bad idea to sell our gold for bitcoin. It’s all about diversification of our assets.

[@mesasone2280]

Agreed

[@Afterglow.Studios]

Why not 5 billion Dogecoin? Or 10 billion Kohls Cash? Or 20 billion Flutternuts?!

[@indivisibleman8596]

pancake coin

[@KurtOnoIR]

30 billion Marlboro Miles!

[@coolbreeze6198]

😂😂😂

[@douglaseuritt3919]

Give me the gold and I’ll create any crypto coin they want.

[@rip6747]

I suppose the best thing to come out of such a plan will be that an official audit of the Ft. Knox gold would finally have to happen.

[@HappyTrails50]

Treasury can simply ask fed to fire up the inflation printing press , not the peoples gold

[@edb3877]

We get screwed either way. 😕

[@glendawilliams5102]

I am absolutely against selling our gold.

[@LeoNidas-301]

Pssst…there isn’t any gold. Don’t tell anyone. 😂

[@michaelearlgrey]

You're confusing "their" gold as "our" gold. This government is not the people.

[@Patrick-kt5mc]

Does the government even have any gold reserves? I thought it was gold-covered tungsten.

[@ThePeterDislikeShow]

In a way that would be a good thing. Tungsten is actually useful in a SHTF situation.

[@JoeStacks419]

Gold doesn't have a shelf life or expiration. In 20 years, today's crypto technology will be like we sold our gold for an ATARI 2600 reserve.

[@rossmanIVXX]

Bitcoin can't scale and if everyone was to start using it it'd take months for transactions to clear. Bitcoin is already antiquated tech

[@ItsEverythingElse]

Why sell the gold? Just print more dollars. Both gold AND Bitcoin will go up more.

[@jimpalsson4147]

Tomfoolery. Way too risky. We are in a situation where we can't afford to lose.

[@mattmatt6572]

Gambling with the people money and choosing winners and loosers in cryptos is ridiculous

[@Right_Hand_Watch]

One step closer to CBDC.

[@kkcwl]

This is completely madness and crazy, instead they should revalue Gold to $150,000 and use it to pay off the debt and the remaining to back the USD.

[@scotth5237]

re-value? How? Supposed to be a free market right?

[@shoobydoo-xf3ub]

I'd love to pay off my student loans with a half eagle.

[@briannorris6377]

​@scotth5237, let's ask FDR he can show us how to revalue the price of gold. 😂

[@silverman5707]

@@scotth5237You think gold and silver are in a free market now.?

[@michaelearlgrey]

​@@silverman5707I understand the claims of manipulation but until metals are out of stock at the current price, the current price is the fair, free market price. Nobody is going to pay me what I THINK my metals are worth...

[@michaelmohrle1773]

I get the feeling that the some of that sold gold somehow magically gets rerouted back into the politicians stack.

[@JohnSmith-yk4zt]

Bitcoin’s chart follows the stock market chart. It will be interesting seeing how it reacts in the next downturn

[@HappyTrails50]

Need to go back to constitutional sound money 🇺🇸

[@edb3877]

What most people don't realize is that gold and silver were the braking system on runaway government spending. If the US Gov didn't have those metals in hand, they could not spend like drunken sailors... apologies to all who served in the US Navy for this comparison but it's been used a lot, especially lately. During good times, many people preferred the convenience of paper money, then as gold and silver certificates. When times got hard, many people wanted the solidity and hard money aspects of gold and silver. It was a system that worked and that created almost no inflation.

[@douglashewitt5064]

If the gov buys bitcoin, I am buying gold. Why are they gambling with our money? It is OUR money, not theirs. If it comes down, only physical metal will have worth.

[@1termt12uml7]

@@douglashewitt5064 "It is OUR money, not theirs" LOL! You do seem to be a bit confused!

[@tomhowarth8115]

That’s nucking futs!

[@brokenrotary6966]

So they want to buy at an all time high?

[@1termt12uml7]

How come nobody ever shows the USA National Wealth Clock? Asking for a friend....LMAO!!!!

[@FoxValleyStacker]

El Salvador started doing this, not selling gold per se but national reserves pretty much went all in

[@michaelhakes651]

Crypto currency is just like fiat currency in that it's backed by nothing.

[@zenadrian4678]

Fact! And i’m a crypto investor too, but gold is king !

[@garrywagner7717]

They are probably already doing it. This is probably a public smell test.

[@ItsEverythingElse]

That's like 4 days of federal spending. A drop in the bucket and you even admitted that.

[@M_R23]

That's insane.

[@jaynawilliams8923]

Oh, you get it.

[@johnbethea4505]

Playing with gold and silver is like playing with tnt. Playing with btc is like playing with nitro.

[@scotth5237]

He'll come around, crypto is just getting started. I have crypto gold and silver, I'll be taking profit and buying more metals as this run continues.....and it will

[@SilverSeeker]

and yet no one can give me a real reason as to why... it's all speculation and fomo driving it. Primed for a crash

[@dukenukemani07]

Silver seeker, I'm curious if the US even has enough gold reserves to cover this Strategic Bitcoin Reserve... There are alot of wild stories being passed around this community about Fort Knox being empty, and although I very highly doubt that part, I know the US has not been buying gold like other nations have. So, where are they going to get all that gold from?

[@OldCity-c4f]

Takes a lot more energy moving large amounts of gold. I love gold but I do see the value in bitcoin. The energy problem will be non existent in 15-20 years. Mining equipment will be a lot more efficient.

[@SilverSeeker]

Once gold is mined and refined, that's it, it's done. It no longer requires unlimited resources to just exist... I have to disagree with you here. Thanks for the comment though

[@Crypt0fin]

I agree with you that it is imprudent to sell gold reserves when it is better to intake the already seized bitcoin and add it to the reserves instead of letting some FBI/CIA bureaucrat pocket it like we all know they do. What gave gold/metals value is that people had to spend their time mining it and people could make things with it which gave metals value. Bitcoin has a similar concept where you have to mine it using technology by solving algorithms. Both forms of money are power to the people compared to fiat currency mined by the government and big banks.

[@bonnieupton4114]

Is this a way to bring in the universal money?

[@joehch]

Physical Gold over bitcoin any day of the week. Been stacking gold every chance I get since mid 2019….New SUB here from CA

[@alexking358]

That’s got to be the dumbest thing I have ever heard.

[@ThePeterDislikeShow]

They should trade it for strategic metals especially bismuth.

[@dustinweaver3032]

I'm 43 years old and I know nothing about Bitcoin I have no idea how they come up with it how they can say that there's only so much and that's it and I don't see a value in it because if the power grid ever goes down and hopefully it doesn't then it would be useless I understand real money gold and silver is real money has been for thousands of years I'm not saying that if you understand what Bitcoin is not to diversify but I would always keep gold and silver and I would never sell gold or silver to buy Bitcoin thanks for the great video

[@brichmond007]

I wouldn't trade either one for the other but I do buy and own both for different purposes

[@bonnieupton4114]

Does the USA even have any gold......? Anyone know?

[@peterbedford2610]

Probably because too many other countries have large gold positions by their CBs

[@MM03248]

I’ll take “Awful Economic Ideas” for $1,000, Alex.

[@DevineAbyss]

Hmmm, I don't think I agree. I think you missed out on a single important word in this article. I like precious metals, especially silver. I also like Bitcoin. If it is a good idea to sell physical Gold to buy Bitcoin is debatable. Maybe 5% is good for diversification though. 4:55 In your video however you are saying, that she plans to sell "Gold CERTIFICATES". Selling Paper-Gold for real, dezentralized Bitcoin? Yes, that is a good idea as a national reserve. We don't even know if there is enough physical gold as backup for all the Paper-Gold.

[@link6020]

How much would it drop the price of gold by flooding the market with roughly 350,000 ounces of gold

[@ThatBK]

Shoutout to other stackers who also stack sats.

[@noicue8078]

I think not. 👎 Thank you for the information 👍

[@SW-rb9cr]

Naw, they shouldn't do it. We can pay the debt and be right back in it. They need a much longer plan in place.

[@SuperGiantGeckosLLC]

They will print fiat to purchase (btc)

[@steadydelta]

Perhaps the easiest way to understand this move is to ask yourself who would be on the buy side. according to Wikipedia, senator Lummis has held bitcoin since 2014. also, why not just print the money as a unit of account and purchase the BTC that way. It could indicate who would be on the buy side for the gold. Somebody may want to trade our gold for their bitcoin. said another way they would not want debt in exchange for bitcoin but a hard asset such as gold.

[@Somedude75566]

The government probably already has most of that million btc from back when they took down silk road.

[@iceresistance]

Obviously, they keep forgetting that Cryptocurrency can be easily stolen by hackers

[@Crispy640]

Hey seeeker, you look like you lost some weight since 2 years ago, youre looking healthier in general, way to go. Good video too, thanks for the info.

[@PackRat-yb7mg]

I remember when bitcoin was a promo with start bucks when you got a cup of coffee you get a bitcoin. And this is gonna be a "main" currency

[@lisalaufenberg6002]

I am thinking Senator Lummis is invested in Bitcoin.

[@TGriffiths-ve6nw]

The crazy thing about this is that there is a politician proposing this who probably hardly knows what Bitcoin is. She probably heard someone say it so now shes all in. I understand Bitcoin at a surface level fine enough but i wouldnt gamble public money on it. Government should not be allowed to gamble tax revenue in the casino.

[@domatthew1666]

Sell gold reserve? We'll now be able to see whether there is gold in fort Knox.

[@OzkAltBldgCo-bv8tt]

I don't believe the government's going to be able to trade Gold for Bitcoin but I do believe people can trade Gold for Bitcoin.

[@CT-ig2oz]

I wonder, the other countries do they accept US pay the debt by BTC?

[@PackRat-yb7mg]

But it went from 60k to 90k makes sense even though it went from 80k back to 30k a few years ago

[@johnfortes2171]

Trading a paper promise for digital BS- what happens if the 1's and 0's mysteriously disappear? How do you trace or figure out how much money was in your account? Moneyless/paperless transactions are wrong.

[@micahmatthews2012]

Yes, let's sell the one tangible asset that has been valuable since the beginning of civilization. Hope the power never goes out.

[@daviddavey1727]

Anything that can be created out of thin air can be modified down the road.

[@donnieweed2547]

Hopefully gold will drop dramatically for this so I can purchase a bunch more. They will find out down the road that investing in thin air is a HUGE MISTAKE.

[@Buckfortypoolgenius]

Pretty sure the US is running low on gold reserves.

[@NumismaticStacker-z8x]

Bitcoin is owned by the NSA. They bought the block chain i believe in 2009. I'd be very careful with holding bitcoin.

[@douglaseuritt3919]

Wise words. BTC is an intelligence op that props up treasury values through the tether. I don’t understand how anyone can’t see through this scam. Plenty of tulip buyers in 17th century Holland too though

[@Ang12347]

What happens when the grid goes down? Come onnnn

[@SilverSaxon]

We the people cannot afford for the government to use our gold reserves in speculative investments.

[@zenadrian4678]

Same mistake they made when they sold gold for paper 🤦🏻

[@justsomeone6835]

It might happen at some point i did hear about this a few days ago time is marching on so it’s possible

[@jaynawilliams8923]

You mean "stupid" is marching on.

[@numberstreets]

Non constitutional

[@EssentialTam33]

Succinct and 100% correct!😊

[@Crispy640]

Sounds like something a woke woman would say. 'Lets sell the assets that held value for 2 thousand *edit, thousands of* years for something only around 10 years that for all we know could crash'

[@lllHAMBONElll]

I didn’t know Trump and his people were woke women. I mean, him and Elon are the ones pushing for this.

[@nobodycares9494]

Gold held value longer than 2 thousand years.

[@johnrday2023]

Just how many variations of copy-cat BitCoin are there ? Hundreds? Thousands? They cannot all be legit/valid/value when it appears insiders are buying/trading/selling/shorting etc back and forth !

[@RossMacTaggart]

You should really hold BOTH!

[@CryptoBoxing94]

I’m big into crypto but that’s crazy crazy crazy crazy. It would give China way to much control of are reserve.

[@slekzieds]

It would be more credible to say the advantage of gold is that it doesn't change value as much as bitcoin. A maintained value is value. Volatility is for traders not savers. The message is still irrelevant to the market demand for crypto, but is more convincing than telling the young digital age they are foolish for preferring money perfectly suited for digital transfers. They understand what money really is even if the taught definition is flawed.

[@georgealexander1083]

I would say heck no, do not sell the gold

[@kathyshellen]

Just like this guv to buy bitcoin at all time high. They are trying to control it.

[@7779-c3m]

Lummis may be telling us ,That they may NOT HAVE 8000 TONES of gold in Fort K ? survey , Good idea

[@Stax-ht9md]

I don't know anything about BitCoin, but I know politicians. Any gains realized from a BitCoin purchase would be spent ten fold and there would never be a gain... only further debt.

[@william7427]

Usa should just mind bitcoin with a nuclear power planet

[@GARRYPLOTT]

not money

[@The1guyUdontreallyremember]

ITS GOTTA BE THE PRETTIEST OF PRECIOUS METALS!!!❤❤❤

[@kbozzie5951]

They are not thinking

[@OminousRooster]

I don’t think this was what Ron Paul had in mind

[@SilverDigger-l8o]

Well, even just the "proposal" to create a Bitcoin repository is making a lot of crypto bros rich. I think you have your answer. Good vid !

[@valfortkamp4576]

There are only 2 million left to mine

[@imasmileydog8043]

I'm pro BTC but to sell gold to buy it is nut's when you have the ability to just print the money and buy it with crappy fiat.

[@iboughtcharlieleesbags8289]

It's a ploy to make Bitcoin the "new" (false) "gold" If you want to invest in crypto, XRP is the chosen with way more upside

[@boomclash101]

They are thinking let's grab an run 🏃‍♀️ 💰 . Another haul of the people's wealth

[@scarter176]

If you can’t hold in your hand you don’t own it ……..poof ! Gone

[@lisalaufenberg6002]

Hmmm, I think I can hold gold in my hand. I am sure some crypto can be a good investment for the pump and dump, but not something to be able to hold in my hand forever. I sincerely hope the US keeps the gold.

[@michaelcao4352]

Why not gold for tulip?😂

[@willa2365]

Selling our gold reserves to purchase bitcoin is a horrible idea. Swapping real money for electronic digits is foolish.

[@mister-action1]

No way. Keep the gold!!!

[@darioperez5084]

They just to control it

[@knockdoun]

you can always mine more gold, its harder to mine bitcoin

[@trw7300]

The real question is, will they sell real gold or paper gold?

[@stephenmitchell243]

Tangible assets. Fiat and crypto are currency, Gold and Silver is real money. Government backed 90%, Silver and Gold eagles, all have a monetary value even if precious metals value drops to zero. You can't say that about crypto.

[@loanthruag6778]

Tulipmania in hyperdrive!!!!

[@Wes_Stacks.]

I preferred a coin that hasn't been previously bitten.

[@TomB1236]

Bitcoin is up to trillion market cap, we the people don't have that kind of money, of course all governments probably is already doing it. Crypto would be way to control inflation. But, I would sell the gains of crypto to buy gold!!