Title of Article
Senator Lummis pushes sale of Treasury’s gold to fund million-Bitcoin reserve
Sell Gold buy Digital – Heading towards the age of everything worth nothing and Gold an unclean thing.
Holy Bible says in the Amplified Bible
Ezekiel 7.18-20
18 They will also cover themselves with sackcloth; horror will overwhelm them, and shame will be on all faces and baldness on all their heads [as evidence of grief].
19 They will fling their silver into the streets and their gold will be [discarded] like something unclean; their silver and their gold shall not be able to save them in the day of the wrath of the Lord. These [things] cannot satisfy their soul nor fill their stomachs, for they have become their stumbling block and source of sin.
The case against holding Gold when Trumpet Number One is executed on us gets harder and harder. I Clevor Trever didn’t really understand what could make verse 18 come true until I understood the absolute Terror of Trumpet Number One that will happen in August 2029.
Gold will suffer a purchasing power decrease against Wheat Flour like none other before it in anytime of history world wide in a day! – Except Noah’s flood when you needed a boat!
Is this why the USA is selling its Gold reserves (if it even has any) to buy Crypto currencies or is it to help Trumps DeFiant Token or both?
Its been the plan all along everything must be securitised – a financial asset like your body, hence the jabs. If you took the jabs, to do the right thing or believe you were forced to, to keep your job or business you were securitised and now are connected to the internet of bodies. You are a digital asset – you probably just don’t know it yet.
Anyway back to the Kitco News article below.
By Jordan Finneseth
Published:
Nov 19, 2024 – 4:37 AM
(Kitco News) – With the 2024 Presidential election in the U.S. now settled, Trump allies are looking to push forward with his campaign agenda. To achieve the President-elect’s goal of creating a strategic Bitcoin (BTC) reserve, Republican Senator Cynthia Lummis of Wyoming has proposed selling some of the Federal Reserve’s gold to fund BTC purchases.
Lummis proposed the sale of gold as a way to fund the proposed strategic Bitcoin stockpile without adding to the government deficit, according to a report from Bloomberg, and she will look to get the measure approved at the start of the new Congress in 2025.
The bill from Lummis calls for the U.S. to acquire one million Bitcoin – 5% of the total supply – which at current prices would cost roughly $92 billion, though that figure is expected to increase as Bitcoin’s price rises.
“We already have the financial assets in the form of gold certificates to convert to Bitcoin,” Lummis said in an interview with Bloomberg. “So the effect on the US balance sheet is pretty neutral.”
The proposed bill from Lummis actually goes beyond what Trump suggested. He previously called for the government to use the Bitcoins it has accumulated via enforcement actions – roughly 200,000 BTC – to fund the strategic reserve.
Under Lummis’ plan, the U.S. government would acquire 1 million BTC, which would be held for a minimum of 20 years, with the presumed appreciation in value to be utilized to help reduce the national debt.
But the plan is far from set in stone as the bill currently has no co-sponsors and is expected to face an uphill battle. Data provided by Polymarket currently shows that bettors currently put the odds of Trump creating a Bitcoin reserve at 31%.
“It’s still putting government money on the line, and Bitcoin has not shown itself to be a particularly stable asset,” Jennifer J. Schulp, director of financial regulation studies at the Cato Institute’s Center for Monetary and Financial Alternatives, told Bloomberg. “The bill asks senators and members of Congress, who may not understand crypto that well, to make a much bigger leap of faith in terms of its long-term viability.”
During an interview with Bloomberg Television, noted crypto bull Michael Novogratz, CEO of Galaxy Digital, said he sees a low likelihood that the U.S. will set up a Bitcoin strategic reserve. If it does happen to be created, he predicted that it would drive the price of BTC to $500,000 per token since other nations would feel compelled to follow suit.
Based on the current Fed balance sheet, the central bank holds around $11 billion worth of certificates representing gold held by the Treasury, but that value is based on a statutory price that has been held constant at $42.2222 per ounce since 1973.
If those certificates were to be revalued at the current gold price of around $2,600/oz, the value of the Treasury’s gold holdings would be north of $677 billion, which means they could purchase 1 million Bitcoins and still have plenty of gold left to spare.
Lummis first announced her bill at the Bitcoin 2024 conference in Nashville in July, but the current Congress has largely ignored the measure. The Senator is optimistic that her bill – called the BITCOIN Act, short for Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide — will gain support in the next Congress.
Adding to her optimism is the fact that Trump has already proposed the creation of a strategic Bitcoin reserve and has packed his cabinet and advisors with people “who understand Bitcoin and its role in our future,” Lummis said.
A new cadre of crypto-friendly lawmakers in the Senate, including Republican Bernie Moreno, who unseated the incumbent Democrat Sherrod Brown in Ohio’s Senate race, are also boosting her belief that the bill will be passed.
“New members are coming in, including Bernie Moreno from Ohio and Tim Sheehy from Montana, who understand digital assets,” Lummis said. “The cavalry is arriving in Washington.”
End of Article
Oh yeah the cavalry is arriving in Washington –
What do cavalry do? Kill, steal and destroy! Just look at Gaza!~
In August 2024 one ounce of Gold would buy over 1,000 loaves of bread. After Trumpet Number One maybe it will buy 70 loaves of bread – We shall see!
Will gold preform like all these people on the net say or will they be like Ezekiel 7.18 confounded?
The promoters on the net of Gold look at past performance as a indicator of future performance but they have missed one very key point.
We are not looking at a currency reset here we are staring down the cavalry’s barrel of Trumpet Number One – FAMINE and Gold & Silver will not stand before the cost of food –
GOLD & SILVER Purchasing Power deflation is coming against Wheat Flour – or what your loaf of bread costs.
Maybe it might stand up against other things – we shall see but against Flour – well, not so well!
19 They will fling their silver into the streets and their gold will be [discarded] like something unclean;
Is the Trump administration fulfilling this scripture – Gold unclean – Sell it off and buy a intangible asset of NOTHING…lol… Scripture correct as per normal!