Quote from: BlackHatCoiner on Today at 10:35:26 AM

Quote from: legiteum on November 10, 2024, 03:37:02 PM

Whatever good the free money you are getting from US taxpayers is can be reversed by an act of Congress as well

What free money are you talking about? I would just want my nation to hold reserves in the hardest asset to make. That's all.

The US doesn't hold "reserves", it takes in taxes and spends them on things. In fact, it takes in about $.80 for every dollar it spends iirc.

Indeed, you are actually asking US taxpayers to take on more debt in order for them to prop up your favorite investment.

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It shouldn't be in the position of speculating with companies, because companies have counterparty risk. Therefore, the reserves should be kept in a hard asset, not liabilities. This is why gold emerged naturally as the world's reserve asset for so many centuries.

Again, the US gold reserves are there as a legacy thing--it's almost a curiosity at this point--and it's an insignificant portion of our national revenue.

(And yes, many over the years have suggested we sell off the reserves and return the money to taxpayers, but it's such a small amount that nobody really feels like bothering with this).

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So you actually want Big Government--but just for your favorite stuff and not anybody else's. Cool

So, let me get this straight. I should be wanting big government, confiscating my property, and storing it in de-monetized assets that will lose value overtime. Would that be fair?

No, I want them to spend it on the stuff we voted for, like heath care for old people, retirements, and the military. The US nor any other government "stores" money--if they did, they should simply give it back to us since they clearly don't need it.

Tell you what: maybe the US can pass a law allowing individuals to decide what the government should do with its surplus (currently running at $-1.9T in the US). You could decide to a) have them send you a check proportional to the amount of taxes you gave them; or b) tell them to buy Bitcoin with your surplus taxes instead.

Sound fair?