You haven’t stopped embarrassing yourself since your polling fiasco embarrassment…just give up trying to argue you’re either too dumb or too lazy to research/read even when spoon fed the links.
Yeah he's not clear about how he arrived at the numbers and you're a gullible fool.The $40b in savings claim comes from the top Pentagon space general and head of NASA in 2022 serving under Biden before DOGE was even a thing you stupid ing idiot
Just raise the white flag and stop embarrassing yourself you dimwit
Either way, you're moving goalposts to avoid the topic. Again.
Lol angry. There's no polling fiasco other than what's in your head.
Trump is the president of the United States. Am I supposed to believe everything he says because of his position? Do you?
Lol, silly us.
You can't reason with the pseudorational.The desired conclusion is always assumed.
Hence, DOGE posting wildly inaccurate quantifications of its own behavior, while lodging conclusory accusations of waste, fraud and abuse, gets accepted by Trumplandia as a bona fide forensic auditor
The only one moving goalposts here is you and you’re so stupid you don’t even realize it so your only defense is to accuse me of doing it.
I brought up the $40b in savings SpaceX saved the gov when winehole posted his chart showing Elon has received $38b from the government. It was a stupid graph to begin with considering the bulk of it included contracts (gov receives a good/service at better price than producing themself) and loans (gov makes money on repayment).
You stupidly tried to argue the $40b in savings claiming it can’t be trusted because it was initially posted by an industry expert. Then you tried to argue the $40b in savings wasn’t legit because DOGE can’t be trusted. Then when your stupidity was shown, again, that the $40b in savings claim from the top Pentagon space force general and head of NASA appointed by Biden you finally realized how stupid you looked and countered with “well yeah but he’s not clear”
You’re a stupid . Admit it.
Of course not. Only a fool would believe everything from anyone.
And lol at you claiming you haven’t been melting down and getting your pushed in by me since your lol Selzer poll fiasco. Proof is in the pudding and post history. You’ve been trying so hard to dig yourself out of that hole and have failed miserably.
go off now, u mad?
That fat tied south african cuck is a miserable toad
Why cant he wear a damn dress shirt at least?
This is a damn circus and the american people are the monkeys in the cage just waiting for the oeanuts to be thrown
De able
Exactly. So why should I believe this guy just because of his position?
Explain the fiasco again. I know Selzer was a very reliable poll until she wasn't. Is that it?And lol at you claiming you haven’t been melting down and getting your pushed in by me since your lol Selzer poll fiasco. Proof is in the pudding and post history. You’ve been trying so hard to dig yourself out of that hole and have failed miserably.
Lol, wut?
Exhibit A
buys a little time for Trumplandia, merits not touched
so Roberts's court grants Trump king-like powers and now he personally gets to work weeknights in his 70s to deal with the aftermath
cartoonishly corrupt
https://www.washingtonpost.com/busin...e-faa-verizon/
laws are just advisory for the president's temporary advisor, I guess
an obvious conflict of interest our previous political system, it appears to be SOP in the patrimonial one that has replaced it
https://www.wsj.com/politics/policy/...oyees-75b2b6e5
Nathan Tankus on the "Fort Knox audit" and probable mechanics of the Bitcoin Strategic Reserve
Tankus knows a lot about the US economic nuts and bolts DOGE has been using to illegally nullify congressionally approved spending and mass fire Americans
https://www.crisesnotes.com/a-scam-built-atop-an-accounting-gimmick-wrapped-in-bull -why-visiting-fort-knox-is-not-about-selling-gold-but-is-about-buying-bitcoin/Which brings us back to the Bitcoin Strategic Reserve. This legislation takes advantage of just how good gold sounds to the laymen (emphasis on “men”…) to propose funding the “Bitcoin Purchase Program” with Gold Certificates. Bitcoin acquired in the “Bitcoin Purchase Program” goes into the Bitcoin Strategic Reserve that will involve “cold storage” of bitcoin. Yes really. The legislation actually goes further and has the Federal Reserve hand over its existing gold certificates and buy them back at a new “fair market value price”. The Federal Reserve would be ordered by the legislation, if signed into law, to simply send the Treasury the difference between the old price and the new price to the Treasury General Account (TGA) (see Monday’s piece).
Here’s the relevant section of the “BITCOIN Act of 2024” whose purpose is described as “To establish a Strategic Bitcoin Reserve and other programs to ensure the transparent management of Bitcoin holdings of the Federal Government, to offset costs utilizing certain resources of the Federal Reserve System, and for other purposes.”:
(c) Federal reserve system gold certificates.—Not later than 180 days after the date of enactment of this Act, the Federal reserve banks shall tender all outstanding gold certificates in their custody to the Secretary. Not later than 90 days after the tender of the last such certificate, the Secretary shall issue new gold certificates to the Federal reserve banks that reflect the fair market value price of the gold held against such certificates by the Treasury, as of the date specified by the Secretary on each new gold certificate. Upon issue by the Secretary, each Federal reserve bank that receives a new gold certificate shall remit the difference in cash value between the old and new gold certificates to the Secretary for deposit in the general fund within 90 days.(d) Conforming amendment.—Section 5117(b) of le 31, United States Code, is amended by striking “(for the purpose of issuing those certificates, of 42 and two-ninths dollars a fine troy ounce)”.That last part is crucial too. Current legislation sets the price that the gold certificates can be issued at (and thus the current “official Federal Government price” of Gold). This is returning to the president’s ability to freely set the price of gold that Roosevelt was granted 90 years ago and which we discussed last Friday. Let’s recap this mind bending house of mirrors: this legislation is aimed at resetting the government’s official gold price to “fair market value” so that they can sell 100s of billions of dollars of “gold certificates” they did not have the legal authority to issue before. The purpose of doing this is to take the supposed “proceeds” of writing in an accounting system that the Fed has “purchased” more gold certificates and deposit them into the Treasury’s bank account while scribbling (in COBOL) in another accounting system that the “Bitcoin Purchase program” can now buy billions of dollars worth of bitcoin. If you feel like you’re playing three card monte with a huckster who has you confused about which direction to look, that’s because you are.
Amazingly, this legislation also dips into the Federal Reserve in yet more ways. It does so by reducing the Federal Reserve’s System’s official net worth (its “surplus funds”) and consequently claiming more for the Treasury, to be swept into the Bitcoin Strategic Reserve at the same time it puts a kind of “first lien” on the remittances the Federal Reserve System pays to the Treasury for the Bitcoin Strategic Reserve. This “first lien” even applies over and above the Fed’s “deferred asset” which is an accounting gimmick already used by the Federal Reserve to avoid negative income from impacting its official net worth
"fiscal QE"
That sounds complicated but what it is is mind-repelling in its simplicity. The Federal Reserve treats its obligation to pay the vast majority of its net income to the Treasury as a liability. So what the Federal Reserve says in its accounting rules is that a Federal Reserve Bank which has negative net income consequently sees its obligation to pay remittances go negative i.e. its a “negative liability”. In other words its obligation to pay net income to the treasury… becomes an asset. Under the Fed’s current approach, this “deferred asset” must be shrunk by net income flows before remittances resume. You can read about the Fed’s internal thinking about “deferred assets” in this 2013 memo declassified in 2020. What the BITCOIN Act of 2024 is saying is “we don’t care about covering the Fed’s past losses, give us our cut first”.
This legislation is, in spades, what long-time Cato Ins ute scholar George Selgin calls “The Menace of Fiscal QE”.
super radical, if it comes to pass
To me reading this legislation is like admiring the architecture of a beautiful building that is designed exactly how you’d want to design it if your goal was to collapse it upon its occupants at a precise date in the future. I have grudging respect for the handiwork that went into designing this scam legislationWhatever your thoughts about the merits of bitcoin, what is so striking about this proposal-- and its popularity among so many bitcoin supporters-- is that it fully turns the original motivation of Bitcoin on its head. The mysterious creator of bitcoin constantly inveighed against Bank- and State- money creation. For example in a forum post in 2009 “Satoshi Nakamoto” said “Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve”. Now the big thing in bitcoin is mobilizing the government’s power to create money to buy bitcoin and cash out its biggest holders. Bitcoin still promises you nothing but is now getting the same backing of public money that sustains the functioning of our payments system, and ultimately our monetary system.
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