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White House Says Gold Reserves May Be Used to Purchase Bitcoin (finance.yahoo.com)

submitted 1 week ago by geneva_convenience@lemmy.ml to c/nottheonion@lemmy.ml

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A senior White House official has hinted at the possibility of the U.S. utilizing its gold reserves to acquire more Bitcoin (CRYPTO: BTC).

"If we actually realize the gains on the U.S. gold holdings, that would be a budget-neutral way to acquire more bitcoin," Hines said adding that there's been "countless ideas" and the “best ideas" will be enacted by President Donald Trump.

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[–] rcbrk@lemmy.ml 8 points 1 week ago (1 children)

This is how you get hyperinflation.

"In 1923, the collapse of the Weimar Republic’s economy impoverished millions and gave Adolf Hitler his first chance at seizing power" -- How Hyperinflation Heralded the Fall of German Democracy

[–] sp3tr4l@lemmy.zip 1 points 1 week ago* (last edited 1 week ago)

Well so far we've managed to do the equivalent of the Enabling Act in... was it 33 or 34? before the hyperinflation, but yeah, I get what you're going for with the very apt Nazi historical comparison.

We are headed for 'idiot American Real Estate Mob Boss Hitler rises to power during moderate economic decline for all but the top 5ish %, proceeds to immediately blow up entire economy with tariffs and hyperinflation.'