Trump misses the mark when warming up to a crypto currency e.g., bitcoin

[johnwk2]

See:

The Trump-crypto love story may not be happily ever after

“Bitcoiners are looking for political validation after years in the wilderness,” said Eric Soufer, a political adviser to major crypto companies. “They believe now is their moment, and it’s hard to resist someone who is telling them everything they want to hear.”

Trump is expected to do just that on Saturday, when he gives the keynote speech at Bitcoin 2024, billed as the largest crypto gathering in the US, in Nashville".

To the best of my knowledge, Trump, to date, has not distinguished the United States Dollar

from that of a Federal Reserve Note,

and that Federal Reserve Notes being made a legal tender are in violation of our Founders expressed intentions.

Our Founder’s fear of allowing bank notes of any kind to be made a legal tender has been allowed to take place and is abomination of our Constitution, and opened the door for some of the most notoriously evil doers of our time to engage in the plundering of America’s real material wealth, allowing a scheme which one of our founder referred to as the “. . . mark of the beast in Revelations".

As to crypto currencies, including “Bitcoin”, there is no constitutional objection, so long as they are not made a “legal tender” for all debts, public and private, and are free to compete in our “free market system”.

In closing, and with reference to our current Federal Reserve Note having been made a legal tender in violation of our Constitution, let us recall the alarm sounded by General Pinckney during the South Carolina ratification debates of our constitution with regard to paper money.

“With regard to Mr. Lowndes’s question, “What harm had paper money done?” General Pinckney answered, that he wondered that gentleman should ask such a question, as he had told the house that he had lost fifteen thousand guineas by depreciation; but he would tell the gentleman what further injuries it had done–it had corrupted the morals of the people; it had diverted them from the paths of honest industry to the ways of ruinous speculation; it had destroyed both public and private credit, and had brought total ruin on numberless widows and orphans.”

JWK

“Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man’s field by the sweat of the poor man’s brow.”__Senator Daniel Webster, May 25th, 1832

[Nemesis]

Interesting post. So how should we buy and sell things? Genuine question, without tender how could we function.

[johnwk2]

I just heard Trump denounce the establishment of a United States digital currency and he is spot on!

But he still needs to express the distinction between the United States Dollar and a Federal Reserve Note.

JWK

When Federal Reserve Notes were made a legal tender in violation of our Constitution, and a direct un-apportioned tax was imposed upon the people without their consent, America’s free enterprise, free market system was subjugated, and the tools of oppression and thievery were made available to some very immoral and nefariously evil people.

[Smyrna]

Our government took over the social security that was supposed to be left alone…and has left IOUs in it’s place. They removed our gold from being the standard that backed up our currency. They print money so excessively, we are over 34 trillion in debt and 40% of our tax dollars are wasted for interest. How much irresponsible waste and misuse of our tax dollars do “we” need to witness to conclude…our government must be reined in? The truth is, they’re out of control and on track to bankrupt this nation.

[Guvnah]

@johnwk2

and that Federal Reserve Notes being made a legal tender are in violation of our Founders expressed intentions.

You already did several threads on this.

And if I recall, you got snippy with anyone who didn’t adopt your position 100%

[johnwk2]

Just for the record…

A Bitcoin is an imaginary, intangible, unit of perceived wealth having no intrinsic value of its own, which derives its supposed value through an arbitrary determined limited supply, trust, and electronic computer calculations.

By contrast, our Founders DEFINED DOLLAR (scroll to page 21 then see Section 9), is a specific weight of a tangible commodity, gold or silver, and has an intrinsic value of its own.

In comparing the stored value between our Founder’s storehouse of wealth, the dollar, and an imaginary one without any intrinsic value, our Federal Reserve Note, the following picture speaks a thousand words:

Former President Trump would do well to be extremely careful when promoting Bitcoin, or any digital currency, and especially alarm the public to the devastating effects of allowing a government sanctioned digital currency. Let our marketplace determine its own vehicles of exchange and have trust in the wisdom our founders.

JWK

”Agriculture, manufactures, commerce, and navigation, the four pillars of our prosperity, are the most thriving when left most free to individual enterprise.” Thomas Jefferson’s First Annual Message to Congress

[Nemesis]

Interesting post and thought provoking.

[johnwk2]

@Nemesis

Interesting post. So how should we buy and sell things? Genuine question, without tender how could we function.

How was trade conducted prior to the Federal Reserve System being created and people’s gold and silver coins were swindled from them using Federal Reserve Notes that were made a legal tender for all debts, public and private?

[wonderingrover]

As a CPA, I always warned my clients about getting too involved with cryptocurrency - I knew of a lot of fraud going on at the time. I’m out of the game right now work - wise until I get some health issues straightened out, but I consider this a period of the “wild wild west” when it comes to crypto, much like the internet back in the 90’s. Will it get to a point where crypto is something that can be trusted? Time will tell.

[JayJay]

This isn’t the question that should be discussed again right now.

Wherever one falls on the issue of legal tender, we aren’t unwinding from this system anytime soon, and indeed it would be incredibly difficult and painful to do so.

The question that should be asked, rather, is what does Trump’s (somewhat) sudden support for crypto, and the support from the tech moguls he has gained from doing so, mean about the kinds of policies he might want to pursue?

Remember, when he first ran for President, Trump was disdainful of crypto, considering it worthless and of now value.

The nature of crypto hasn’t changed since he first said that…yet now he’s a supporter, and even allows donations in crypto to his campaign.

[Nemesis]

@johnwk2

@Nemesis

Interesting post. So how should we buy and sell things? Genuine question, without tender how could we function.

How was trade conducted prior to the Federal Reserve System being created and people’s gold and silver coins were swindled from them using Federal Reserve Notes that were made a legal tender for all debts, public and private?

I do not know mate, not an area of history I have studied or familiar with.

Do You want to return to using gold and silver? How would that work today

[TheRedComet]

We do it old school. I trade you twenty blueberries for a watermelon.

[Nemesis]

@TheRedComet

We do it old school. I trade you twenty blueberries for a watermelon.

Lmao, i want to make a crumpet joke but I am just not witty enough to think of anything

[johnwk2]

@Nemesis

@johnwk2

@Nemesis

Interesting post. So how should we buy and sell things? Genuine question, without tender how could we function.

How was trade conducted prior to the Federal Reserve System being created and people’s gold and silver coins were swindled from them using Federal Reserve Notes that were made a legal tender for all debts, public and private?

I do not know mate,

Of course you don’t mate. You post here just to be a nuisance.

[Nemesis]

Nah i just call out ■■■■■■■■ threads when I see them.

[johnwk2]

What is the ■■■■■■■■ you are referring to. Eh, mate?

[johnwk2]

My guess is someone very close to Trump is knowingly misleading Trump into embracing crypto. That Judas needs to be identified and made to defend his actions.

[Nemesis]

Not your monetary thread, thats actually interesting. But this is just a rehash of the same subject you have done countless times before and will go nowhere.

[johnwk2]

So, I am correct in thinking you are here for nothing more than to be a petulant agitator.

[Jezcoe]

@johnwk2

My guess is someone very close to Trump is knowingly misleading Trump into embracing crypto. That Judas needs to be identified and made to defend his actions.

He is embracing crypto because the silicon valley Billionaire wierdos who are funding him want him to embrace crypto.