Donald John Trump is my President!! He is a Master Chess Player, and a Genius at ‘The Art of War’!
I love America, ‘my Country tis of thee…’ America Is the Greatest Country in our World!!
Now, All Politics Asside.
I Am Not a Financial Advisor.
All that, just to say (my opinion) that investing in Crypto that is NOT Backed by Gold or Precious Metals is Exactly the Same as ‘The Emperor’s New Clothes’
NOTE: I am NOT Comparing the Emperor to DJT!!
Dare I Say, that I Am Comparing The Crypto Market to the EMPEROR!!!
I must go off on a Necessary Tangent now:
I am well Aware that The BLOCKCHAIN:
“'a Decentralized Digital Ledger that Securely Stores Digital Records Across a Network of Computers in a way that is Transparent, Immutable, and Resistant to Tampering. Each ‘block’ contains data, and blocks are linked in a chronological ‘chain.’”
is The Real VALUE Of The DIGITAL Technology, Not Crypto TOKENS!
The Blockchain gives We The People the Ability to make Contracts With Each Other in Seconds, WITHOUT A MIDDLEMAN (Bank CARTELS, Brokers, Financial Advisors, or Government Intervention)!!
The BLOCKCHAIN also Allows us to make and receive Payments for purchases!!
Therefore, in effect, when we use Crypto For Purchases, we Are Actually Using the Barter System, which is ok, IF The Crypto is Backed by Precious Metals, Otherwise, We Are Ignoring The Emperor’s New Clothes!!
There is a ‘Pervasive Mistake’ that is understandably made by people, even by DJT:
This is an excerpt from an Article by James Gordon of The Daily Mail.com
“Bitcoin, it just seems like a scam,’ Trump said in June of that year [2021]. ‘I don’t like it because it’s another currency competing against the dollar’ while adding that he wanted the dollar to be ‘the currency of the world.’”
“But on Sunday, Trump said in a post to Truth Social that his January executive order on digital assets would now create a stockpile of currencies including bitcoin, ether, XRP, solana and cardano. The names had not previously been announced.”
“More than an hour later, Trump added: 'And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve.”
Can Anyone see the mistake?
The Mistake is the Word Currency!!
Crypto Is Not CURRENCY!!
Our Congress has Stated that Fact, and Only Congress can make Crypto a Currency!! Although, it would most likely Require an Amendment to the US Republic Constitution!!
The Mistake is understandable, because the Crypto Industry Uses the Words ‘Crypto Coins’!!
An Excerpt From: “Americanfoundingprinciples.com
“Money” as defined by the Constitution also has a very specific meaning. We know from the monetary powers delegated to Congress that “Money” had to be coined, therefore it had to be made of metal and as pursuant to common law, upon which the Constitution was based, it had to be of intrinsic value.[11]”
“From the monetary prohibitions placed upon the States we see, that both gold and silver were meant to comprise the coinage system in the United States, which also comports with common law from which the framers of the Constitution developed the monetary clauses. Constitutional “Money” is gold or silver coin whose value is measured against a silver coin of 371-1/4 grains of fine silver. Copper may also be used as “Money”, because it is a semi-precious metal, but its value must be measured against the silver dollar as defined above.”
“This brings us back to the questions Americans should ask about the government’s monetary policies. Since the Tenth Amendment specifies that Congress is only allowed to exercise authority where it is specifically written in the Constitution, it should be clear that Congress can only borrow, coin, and regulate the value of coins in relation to the silver dollar standard. They are also obligated to provide for the punishment of counterfeiters. Conversely, they are prohibited from making any other monetary policy to include emitting paper currency of any kind as legal tender, withdrawing money from the US Treasury without “Appropriations made by Law”, or allowing surrogates to do the things they are prohibited from doing, because it is not written in the Constitution.”
Therefore, We can only Create a Government Reserve of Crypto TOKENS!