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“BrInG DoWn tHe GoVErNmeNt” is almost always “bring in fascism”. Using planet killing technologies to do it is just part of the “fun” for these people. Linked content [1].
[1] https://prospect.org/power/2024-11-26-crypto-plot-against-americas-gold-reserves/
Machine learning summary of original content via the Kagi Universal Summariser:
The article "The Crypto Plot Against America’s Gold Reserves" discusses the significant influence the cryptocurrency industry has gained in American politics, particularly during the 2024 election, where it spent heavily to secure political power. A notable outcome was the election of a senator in Ohio, facilitated by $40 million in advertising. The piece details how the industry has shifted perspectives, even convincing Donald Trump to embrace cryptocurrency after previously denouncing it. The proposed plan involves the U.S. government acquiring substantial Bitcoin assets, potentially turning it into the largest crypto holder globally, which would facilitate a massive transfer of wealth to Bitcoin investors. Senator Cynthia Lummis introduced the BITCOIN Act, aiming to leverage public assets, including revaluing the U.S. gold reserves, to finance Bitcoin purchases. Currently, the government's gold reserves are valued at $11 billion, but the market price suggests they could be worth $688 billion, raising concerns about the motivations behind such a revaluation. The article highlights the concentration of Bitcoin wealth, with a small number of addresses holding a significant portion of the currency, leading to market illiquidity. It critiques the speculative nature of Bitcoin, arguing that its high valuation is driven by hype rather than intrinsic value, and warns of the implications for political integrity as the crypto industry seeks to maintain its market by involving government assets.