So they want to trade something that is almost always worth a lot for something that is sometimes worth a theoretical shitload or less than a loaf of bread, depending on the day?
Brilliant, very good. Nothing stupid will come of this I'm sure. /s
this post was submitted on 25 Mar 2025
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Just when you think the clown car is full, that there is no way they will get another clown in there, clown world manages to cram another in.
Again.
So Trump wanted to get the gold from fort Knox so he could hand it over to Chinese hackers?
North Korea is more famous for that
I am guessing that Musk will create a Muskcoin, and offer to 'sell' it for a preferable rate to the US government. Coincidentally, the Muskcoin uses the X Everything platform for all transactions.
With each day that passes, I am becoming more convinced that shifting 99% of my money into Euros is the right call.
How much money do you have? At the current state of affairs the best possible investment is to buy pallets of ammo and crates full of AR lowers.
Many times more than $500, but far below $100,000. In any case, I am thinking that if WW3 starts up, I can buy war bonds from the places that oppose Dogey America. Probably fiscally safer and more effective than buying ammo as an individual, since states can do better bulk purchases and negotiations with that money. Hopefully my neck of the woods would disobey Trump orders to outlaw the purchase of foreign war bonds.
I am not even talking about a war scenario. The college near me has guest finance speakers and once in 2006 they described how a few investors were renting warehouse space and buying bullets as a hedge and ar lowers as a speculatory investment with little downside. I am assuming they must have made a killing I'm profits.
You need a sizeable amount of investment money to do it at a scale where storage costs don't eat into your profits though.
I know an old hardware store, the kind that is about half the size of a Home Depot. That building and the lot around it has been empty for nearly a decade by now. Aside from likely being dilapidated from not having humans, it should be a pretty good building for stowing gear. Hopefully, my Euros when converted into dollars will be able to buy cheap real estate for a good cause.
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This needs to be a second amendment issue now!
You can be sure this is about enriching himself and his broligarchs.
BWAHAHAHAHAHA Genius. Step 1: Buy Shitcoin with actual gold (the most stable wealth storage)
Step 2: Bitcoin price rises
Step 3: Sell all your bitcoin, rugpull the entire thing
Result: You have now robbed Fort Knox. Legally.
What a great fucking idea. Let's take a physical limited resource mineral and trade it for an untraceable and unregulated made up currency.
Holy shit I'm gonna have a stroke.
If you want to reward your high profile friends so they can cash out with tangible assets before the whole currency or economy crashes, this is how you would do things.
Step 1: Put everything in crypto
Step 2: Economy crashes, society no longer has power or running water.
Step 3: Try to sell crypto but for some reason computer won't turn on.
Step 4: the rich that bought the gold uses it to privatize all water and power to get it working again, now becomes even more rich.
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So couple things:
- Bitcoin (and other cryptocurrencies) are certainly not untraceable. Public ledger means that all the transactions are publicly visible - if you can associate a wallet to a person or organization then you know where the money went, and there are businesses that specifically do that kind of research. Every single transaction ever is part of the blockchain record. Cryptocurrency is a terrible way to make a clandestine purchase.
- All currencies are made up (I know, real imfourteenandthisisdeep energy, but still technicallythetruth).
*Edit - A silly caveat to this is that if the US government starts regularly transacting in Bitcoin, it would be very easy to audit... using blockchain means there's a built-in transaction record... anybody with a little bit of experience in reading the ledger could just track everything.
Other than that you're absolutely right.
- Cryptocurrencies are still largely unregulated, and the crypto market has attracted exactly the kind of people you would expect to be most interested in unregulated financial transactions - scammers, thieves, con men, ransomware gangs, money launderers, and anyone who wants buy or sell CSAM, narcotics, weapons, DDOS-as-a-Service, and North Korea's government funding crew. The crypto market is absolutely chock-full of criminal activity, so it's entirely reasonable to assume that anyone who wants to participate in that market wants to participate in the crime.
- As you said, trading physical gold for digital currency is a stupid idea. It's also uneccessary, because the FBI is already sitting on a collection of cryptocurrencies that have been confiscated through criminal investigations, including large amounts of Bitcoin. It is technically illegal right now for the US government to do anything with that, but that could be changed with a law. There's nowhere else for that cryptocurrency to go anyway.
It seems likely to me that a play to distribute gold from the reserve is about having an excuse to open it and take gold out, and disappear some of it in the process. It's a cover for a plan to rob the US.
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Copying my comment from this same story, other thread on another instance/community:
...
These actual mouth breathing morons have no idea what they are even attempting to describe.
...
https://www.federalreserve.gov/faqs/does-the-federal-reserve-own-or-hold-gold.htm
https://wikipedia.org/wiki/Gold_certificate_(United_States)
...
The Federal Reserve doesn't actually own, nor physically possess, any physical gold, that they could just sell off or speculate with.
When FDR outlawed gold private ownership in 1934, all physical gold was handed over to the US Treasury, and the Federal Reserve (and other banks) were given gold certificates, valued at $42.22... per ounce... a set value that hasn't changed, and is used for the Fed's modest valuation of its previously held gold reserves... which are utterly insignificant and dwarfed by the other assets it holds.
(This isn't super current, but it gives you an idea. Light blue is gold certificates. Its a one pixel thin line at the bottom. The overall balance is even more huge than this now after Covid, and Gold Certs, even if they were revalued from $42.2222 to the current market rate, would basically be small, it would go from about 10 billion to 750 billion, when the Fed's current total assets are about 7 trillion)
About 5% of the US Treasury's gold is held at the New York Fed, but the Fed doesn't own it, it's just there because there is a vault there. The rest of the US's gold is physically held at Treasury operated locations.
...
What the Fed does own are Gold Certificates, back from 1934, which are still valued at the old $42.2222 price, in terms of the Fed calculating its own balance sheet.
To... have the US gov... order the Fed to sell off its gold certificates... that's not a thing the US gov can actually legally do, not without asserting total direct control over the Fed, and thus basically instantly making its existence pointless...
Again, to repeat, the US government cannot legally command the Fed to sell off its gold certificates, the Fed cannot legally sell its gold certificates, nor could said certificates be legally exchanged for actual physical gold from the US Treasury.
This would be approximately analagous to the US government ordering a corporation to sell off its own capital assets and then just sending the money from that sale to a government account.
It is expropriation.
For this to be any kind of legal, they'd have to repeal or greatly amend ... at least the laws that established the Federal Reserve, and the Gold Reserve Act, likely many more... or basically do a whole bunch of rat fuckery to get their own people in positions on various Fed Reserve boards, and possibly prevent other people on Fed Reserve boards from actually voting on motions.
This would amount to basically performing a coup on the US's central banking system, and putting total control of the monetary system within the Treasury.
...
This would upend the century old bedrock of the US's financial system.
Now, I am no full, uncritical advocate of the Federal Reserve system in its current form... but this is what it is, a complete usurpation of the US's existing monetary system, which would then be put in charge of the astoundingly incompetent current administration.
This is how you get hyperinflation.
This is quite literally fucking with the money at its most fundamental level.
This is how you speed run destroying the USD as the world reserve currency.
...
tldr;
This isn't only stupid in the sense of 'sell gold to buy bitcoin' is a dubious investment strategy, it is particularly stupid in that if the actual pursued strategy is 'force the Fed to sell its gold certificates'...
(to who? its not legal for any private entity to 'purchase' them at the market rate for gold, nor is it legal for said hypothetical purchaser, not even the Fed, to actually redeem them for physical gold, nor is it even legal for the Fed to sell them even of its own accord!)
... then that method blows up the entire concept of a legally defined, semi-independent Federal Reserve, and that then blows up the entire basis of the US monetary system.
Ah, so they are coming for the federal reserve as a whole. Makes sense actually, Trump wants that money.
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White house says scammers gonna scam
Dumbest. Fucking. Idea. Ever
Well no its actually a perfect method of looting the treasury and handing all the country's future wealth to the billionaires now, making them trillionaires, and all in a way thats essentially impossible to track...
So. America got bought by a vulture capitalist and they are selling off assets.
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This reality is so fucking stupid. Let's sell something of value to buy something that is only valuable if someone really wants it bad enough.
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I know this is old news, but how good would it be if they pissed a whole bunch of gold away on BitCoin and everyone dumped, tanking the price, and losing the US trillions of dollars.
I mean good from a theoretical way, it would be absolutely devastating for the state of the world.
Step 1 - Break numerous laws to sell gold.
Step 2 - Sell gold to fellow cronies for cheap.
Step 3 - Use gold money to buy bitcoin to drive the price up.
Step 4 - Sell bitcoin when price is high.
Step 6 - Bitcoin crashes.
Step 7 - Profit for Trumpy and his cronies
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Now ladies and gentlemen I will astound you with demonstration of my mighty mystical methods. Right before your very eyes I will make this gold disappear. Not just to your eyes, not just to thin air, but such that it will only be a logical concept of worth. One, two, three...............
The correct thing to do is ban all the digital coins.
All they used for is tax avoidance. While raising electric bills
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Fuck bitcoin. Let's bring back the beanie-baby as a monetary standard.
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A purchase shortly followed by one of the biggest bitcoin and market crashes in modern times.
I've never been this high
I don't know why so many commenters think this is just a joke or funny. They're talking about stealing the wealth of America to give to their rich friends directly through Bitcoin scams. That's what this will be. Giant government-funded pump and dump for their rich fascist friends.
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budget neutral
What the actual fuck. If you trade gold for bitcoin, you no longer have the gold. Budget neutral my ass.
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What Happened: Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, suggested in an interview that the U.S. could capitalize on the gains from its gold holdings to purchase more Bitcoin.
https://en.wikipedia.org/wiki/Bo_Hines
Robert "Bo" Hines (born August 29, 1995) is an American former college football player from North Carolina. He played college football for the NC State Wolfpack and Yale Bulldogs. In 2022, he was the Republican nominee in North Carolina's 13th congressional district.
Call me a traditionalist, but it seems to me that if you're going to be advising the President on digital assets, it'd be nice to have an economics background.
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So... I'm guessing the plebs get the cryptocurrencies. Which are backed by stablecoins... which are backed by tech grifters saying "I can cover it bro, trust me".
Meanwhile the elites will take all that worthless gold and dispose of it for us.
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LOL.
Sure, why not. I could use a laugh, and the memes when this fails too are going to be juicy.
Well there it is. For anyone who believed that they were simply going to create a reserve to store already existing cryptocurrencies - that were confiscated by the federal agencies - and not spend federal dollars to bolster or hype up cryptocurrencies that are connected to the people in the administration, y'all are idiots.
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Mr. Art of the deal-do is robbing you blind. No matter how this ends, he and felon will have stashed piles of you cash
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Curiously, thanks to Trump Gold has been breaking record after record on the upside since January - you see, Gold is the ultimate "oh, shit" form of wealth storage because it's its own "currency" (so if traditional currencies lose value gold just goes up in those currencies) so people flock to it in situations of high Economic uncertainty, and Economic uncertainty is the only achievement of Trump's Administration.
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