The Galaxy Brains of the Trump White House Want to Use Tariffs to Buy Bitcoin
The Galaxy Brains of the Trump White House Want to Use Tariffs to Buy Bitcoin
Critics on the right and left say the bitcoin reserve is a pointless industry handout — and using tariff revenue is even dumber.
IF DONALD TRUMP’S sweeping global tariffs send household good prices soaring and drive the economy into recession, at least one industry could profit.
The Trump administration is considering using tariff revenues to buy Bitcoin for a “Strategic Bitcoin Reserve,” a top administration crypto official said in an interview last week.
The White House’s proposal is driving interest from crypto industry figures who have made building the reserve one of their top priorities.
It is uniting critics on the right and left, however, who have cast the reserve as a pointless industry giveaway that will come at the expense of ordinary taxpayers. Using tariff money would add insult to injury, they say.
Why do we let the dumbest motherfuckers decide anything, ever?
Because they're the popular kids!
And they're rich.
I'm not saying these are good reasons, just that they're reasons.
more like they have the cops in their pocket
We keep letting capitalism rule the world
Because your “opposition” politicians and voters are cowardly as hell?
That's one way to take make money...
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Buy a bunch of personal bitcoin
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Announce that the government is buying a ton of bitcoin
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Wait for the value to surge
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Sell your bitcoin at the new inflated value
You forgot the part where they take all the government purchased Bitcoin and cash that out to personal accounts.
They could literally steal billions of dollars this way... It's terrifying.
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Right... So what happens is you dump money into it, the government then dumps money into it, you cash out, then the government is out money and you grain money... Assuming you have capital to fuck around with prior.
Not quite. They'll pull the rug before you get to cash out.
you grain money
Is that why the kids have been calling money "bread"?
Dough
Oh look, another buy-the-dipshit
…except the thing you cashed out into is undergoing rampant inflation.
All the people panic-selling their investments are just reinvesting in USD
GME ahead of the game somehow. Would be nice if we could benefit from the pump/dump.
I'm not sure that's sound investing advice...
Would'nt dogecoin be more efficient?
/s
It’s gonna be $DOGE.
Hah. Yeah, put your money where your mouth is! I fucking dare you!
Put all your money into that worthless joke!
If this regime has the government buy crypto; the government will lose access to it. These people will either "lose the encryption codes", actually loose the encryption codes, steel it, let it be stolen, ect..
If they're leaking this now, they have already purchased their personal "investments" to dump in exchange for tax (tariff) dollars.
Shouldn't they be paying down that debt they are increasing. Esepcially since they are driving foreign companies to not buy it.
Honestly, using the country's surplus to fund a sovereign wealth fund like Norway instead of throwing it into the black hole of the military industrial complex seems like it would be a pretty good idea.
Too bad they're stealing taxpayer dollars through tariffs to throw into the additional black hole of crypto market manipulation instead.
There’s no surplus, even with the extreme tariffs that trump is pushing. Given the economic destruction that they’re likely to cause, they’re probably a net loss for the treasury (and certainly are if one considers the damage that they’re doing to the IRS).
The reasons that the ‘sovereign wealth fund’ idea keeps coming up are:
- All of the cool authoritarians have one
- trump really, really, wants a slush fund to grift off of
That’s it.
seems like a great way to siphon off the cash
Yeah, we can't let them do this... Bitcoin is electric cash, once they have public funds in Bitcoin, they have turned it into private funds, they've already pocketed it. We can't let them steal from the country like that...
Everything Trump touches turns to shit. Just ask how his casinos, steaks, planes, hotels, university, and rape victims are doing.
To the moon! 🚀 🌙 👊 🇺🇲 🔥