Hilarious article from the Financial Times re: Bitcoin and Strategic Reserve. It just goes to show that some fiat apparatchiks actually do get it. The thesis is essentially that monetary machinations with the dollar are indeed terrible and that bitcoin provides an alternative but that's very very bad
https://www.ft.com/content/e0e5e286-1885-4d72-8b65-3333069815c1
Best part:
"Bitcoin is not controlled by anyone, including the US government. We cannot print more of it to finance student or medical debt forgiveness, help out with first-time buyer down payments, or deliver tax cuts when we are running huge budget deficits. Nor can our politicians print more of it to finance their campaign promises that we as a country cannot afford, just to buy themselves more votes. Yet bitcoin, just like gold, looks shinier with every empty campaign promise and every trillion dollars we add to our debt. What will happen if strangers fall in love with another story that is not green and doesn’t have pictures of the US presidents?"
Web Archive version:
https://web.archive.org/web/20240902161332/https://www.ft.com/content/e0e5e286-1885-4d72-8b65-3333069815c1
PorPet /
npub1es…z864y
2024-09-02 19:03:36
Author Public Key
npub1est07fmhhgapwnw3nc25pzr98f3u7vsd079m6a3j29eqe9ur9t3qaz864ySeen on
wss://relay.primal.netPublished at
2024-09-02 19:03:36Event JSON
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"content": "Hilarious article from the Financial Times re: Bitcoin and Strategic Reserve. It just goes to show that some fiat apparatchiks actually do get it. The thesis is essentially that monetary machinations with the dollar are indeed terrible and that bitcoin provides an alternative but that's very very bad \n\nhttps://www.ft.com/content/e0e5e286-1885-4d72-8b65-3333069815c1\n\nBest part:\n\n\"Bitcoin is not controlled by anyone, including the US government. We cannot print more of it to finance student or medical debt forgiveness, help out with first-time buyer down payments, or deliver tax cuts when we are running huge budget deficits. Nor can our politicians print more of it to finance their campaign promises that we as a country cannot afford, just to buy themselves more votes. Yet bitcoin, just like gold, looks shinier with every empty campaign promise and every trillion dollars we add to our debt. What will happen if strangers fall in love with another story that is not green and doesn’t have pictures of the US presidents?\"\n\n\nWeb Archive version:\nhttps://web.archive.org/web/20240902161332/https://www.ft.com/content/e0e5e286-1885-4d72-8b65-3333069815c1",
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