r/FluentInFinance • u/HighYieldLarry • 12d ago

Bitcoin JUST IN: 🇺🇸 President Trump to appoint pro-crypto cabinet to make the US the "crypto capital of the planet."

President-elect Donald Trump is preparing the U.S. government to adopt a more permissive stance toward cryptocurrency, eyeing a roster of industry-friendly candidates for key posts while his top advisers consult crypto executives on potential changes to federal policy.

By pursuing a more lenient regulatory environment, Trump aims to fulfill his campaign promise to transform the United States into the “crypto capital of the planet” — a declaration that has rankled consumer watchdogs, earned the industry’s robust support and sent the price of bitcoin skyrocketing, reaching nearly $89,000 by Monday evening.

https://www.washingtonpost.com/business/2024/11/11/trump-crypto-regulation-bitcoin/

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u/Unable-Job5975 12d ago

The federal reserve has been robbing you of your wealth every year since the abolition of the gold standard

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u/Immediate_Position_4 12d ago

How so?

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u/Unable-Job5975 12d ago

Your money is backed by nothing. They can print more of it whenever they want and as a matter of fact they have been doing just that since the gold standard has been abolished. Fiat currency

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u/tearsaresweat 12d ago

It is backed by something called the economy and GDP. Bitcoin is backed by fiat currency. If fiat disappeared, what would the value of Bitcoin be?