I’m sorry to be the sooner but how does a the US back it’s currency by btc and gold. They are in $33 trillion of national debt?
A fiat currency backed by nothing except debt and trust can not just be fully reserved by btc and gold overnight.
I don’t by this headline sorry. But I respect RFK for raising awareness on the Monterey issues and vaccine issues.
*doomer
It’s not possible. It’s just a newer version of fiat. Near instant settlement will be available to anyone. There is no need for a federal reserve settled claim on Bitcoin. This was already done with gold and ultimately why gold failed. It’s patently absurd.
Backed by just means redeemable. No they can’t simply back current currency without holding significant amount of the reserve first.
Read the article, he's planning it in stages, not overnight...
Ending btc taxes is a great idea. But backing shit with btc is really not practical.
I felt same way.
The US currency is backed by the threat of the US military. That is why they spend 50% of all government spending on their military.
