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People think Trump is nuts for claiming he can eliminate income taxes

It can absolutely happen

A (much smaller) US government will be funded by a mixture of tariffs and bitcoin mining

Advancements in technology will allow the US to make most things in-house. This will be a trend worldwide as we move into a decentralized economy

AI will also take most existing jobs - and AIs likely won't be paying income tax...

With that in mind, income taxes will likely fade away either way

This plan also will not work with the current fiat USD - they will need to print a shit ton of money to make interest payments on debt

People will also need UBI - since they don't have jobs anymore. Which will require even more money printing

I believe Trump is going to take down the Fed - he's been talking about it since Day 1 in politics

He will cut off the Fed and the treasury will issue a new USD backed by bitcoin

Bitcoin will run up like crazy. People, companies and countries will all be scrambling to get some bitty

The US will need the price to be very high to meet these obligations and make the bitcoin backed USD the new shiny object

Sounds crazy

But it just might happen

It definitely could happen

Does the Fed even have an army?

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Discussion

nicnym 1y ago

...so yer sayin there's a chance

deeznuts 1y ago

The Fed has an army. It’s the us military… fully controlled by the bankers and their employees in US government

Jor 1y ago

You're saying the US military would take orders ahead of Commander-in-Chief?

Honest question I don't know the answer to that

DaddyJones 1y ago

The Fed is a third party to the US government it can be rugged at any moment

deeznuts 1y ago

I don’t think you get it… if you (USG) are in debt to someone (central bank) do you get to set policy?

DaddyJones 1y ago

If your big enough, large enough Yes of course

deeznuts 1y ago

“Commander in chief” is also a bank employee and is only there to execute parts of the central bank business strategy (war)

Stack Jarrow 1y ago

Do you think that the new USD backed by BTC could be a giant E -Cash system run as a mint by the fed aka basically a CBDC backed by bitcoin that operates in many of the same ways as cashu and fedi do but on a larger scale?

Jor 1y ago

Yeah I think so

Except it won't be the Fed

It will be the US treasury

And every state, muni, city and town will have their own ecash mint

SuiGenerisJohn 1y ago

I’ve thought about this same outcome a lot myself but I’ve concluded it’s not an amusing enough outcome for the simulation to allow for it. It will have to be much dumber and clown world. We still win in the end tho.

McCoy 1y ago

Or he might just pump his shit coin