Beyond gigasucker

Several states are planning to set up BITCOIN STRATEGIC RESERVES.

CNBC interviews a Bitcoin scammer who thinks it’s a wonderful idea. Of course CNBC will always serve the oligarchs, so I don’t expect objectivity or “balance” from them.

Ohio and Texas are considering the fantastically stupid idea, along with the alleged so-called “federal” “government”. Needless to say, it’s a Trump idea like lockdowns and strangulation devices and shutting down all business. Trump destroys all business and replaces it with fraud.

While you’re at it, you need to set up Strategic Reserves for Perpetual Motion Fuel and Orgone Energy and Cosmic Disks.

The overall concept of a reserve is natural and necessary. Every cell and animal and plant has reserves of useful chemicals or fats or water. Households and businesses, when they’re not down to raw survival, should build up a reserve of money, along with materials or foods that are specifically needed and might be unavailable. All scriptures and wise proverbs tell us to build up reserves when times are good, so we can get through the raw survival times.

Governments have been keeping reserves of gold and wheat and other preservable commodities for centuries. The US gov’t, at various times, had reserves of cheese, gold, helium and oil. Gold and helium were effectively abandoned though still legally there. Cheese and oil are actively maintained. Since 1980 we’ve been destroying all of our storage at all levels, to guarantee that all people and businesses will depend solely on debt from Wall Street.

Bitcoin fails all parts of the test for reserves. It isn’t material. It isn’t money. It has no value or utility in any sense. It can’t be saved or spent. In practical terms it’s just a database, a computer array. In economic terms it’s just another debt controlled by Wall Street, which I suspected from the start and now verified by Larry Fink’s takeover of the fraud.

An everyday example of a reserve is buying extra cans of soup and loaves of bread at the store when you’ll be unable to shop for a while. The bitcoin equivalent is writing the shopping list into a file on Jeff Bezos’s AWS. You haven’t stored anything at all. You can’t eat the text when you run out of food. Bezos can delete your list if he doesn’t like you, and then you won’t even have the list.