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@ Jor
2024-12-14 23:18:57
I have a feeling gold bugs aren't going to enjoy this next chapter.
And the sad thing is that they are so damn close.
They've been fighting this fight for decades now.
They understand how broken our monetary system is.
But their stubbornness will be their demise.
In the last month alone, we've had some pretty catastrophic events in the gold market.
With bitcoin-friendly President Trump about to take office in the US, they are considering selling their gold reserves to purchase bitcoin.
According to Popular Mechanics, China recently discovered $83 billion worth of gold.
Damn I forgot about Popular Mechanics.
Their website looks like it's stuck in 1997 but the articles are all recent.
Anyways.
And the biggest news - coming from our favorite little country.
El Salvador announced a gold discovery worth approximately $3 TRILLION dollars.
This triggered a couple historic tweets from their President Bukele.
First quote tweeting the announcement "And we'll dilute that thing like there's no tomorrow."
And the next day quote tweeting another announcement "But what could they possibly do with that?"
And for anyone who isn't familiar with El Salvador (aka The Savior), they were the first country to make bitcoin legal tender.
After a few large smash buys, they have been buying 1 bitcoin every day.
You can verify this on their customized mempool website.
The market is about to be FLOODED with gold.
Peter Schiff is losing his damn mind, claiming bitcoin is a "national security threat."
The mainstream media talking heads are on a bitcoin war path.
OUR PETS HEADS ARE FALLING OFF.
Gold has historically been the best store of value that exists.
Why?
Because of it's scarcity.
Until April 2024, when bitcoin officially passed gold as the scarcest asset.
Gold (typically) has a 2% inflation rate.
Bitcoin, as of the latest halving, now has less than 2% inflation.
IF - and that's a big IF - countries start dumping their gold for bitcoin, what will happen to the market?
Countries and central banks are the largest holders of gold.
Who will pick up the slack?
How many 20 year olds will be lining up at their local gold shop to buy some pet rocks?
Gold has served it's purpose.
It was the best asset to store wealth.
Before bitcoin.
Bitcoin can also be sent anywhere in the world in a matter of minutes - for a very low fee.
Imagine trying to send 10 billion worth of gold across the world.
Bitcoin is also highly divisible.
You can't start shaving off a gold coin to pay for groceries.
Unless maybe the grocery stores will start putting scales at the til.
Haha.
And most importantly, especially when talking about governments and central banks, bitcoin is verifiable.
We have never been able to see or verify the gold reserves.
How much gold is really in Fort Knox?
We have absolutely no idea.
It requires trust.
How many people trust their government at this stage of the game?
Bitcoin on the other hand, can be easily verified.
This is important for the individuals, the banks, and the countries.
El Salvador has a website where you can verify their bitcoin holdings.
Check it out here!
We have no idea how much gold really exists.
We have an idea, but it's not very accurate - clearly.
If they found $3 TRILLION worth of gold in the small country of El Salvador, how much gold you do think is waiting to be found on Mars?
And how much bitcoin will we find on Mars?
As a gold and silver holder myself, I am making the full switch into bitcoin.
It just makes the most sense.
And human eventually switch to the idea that makes the most sense.
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PROJECT POTENTIAL - You can now find the expanded audio versions of these on the new podcast - Project Potential! I will be sharing the video versions here for the LITF members but you can also find it for free on Spotify and of course Fountain!
Here is the link to Episode 008 on Fountain: https://www.fountain.fm/episode/nQb5z3PolahVwsPbYX4r
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Have a great day everyone!
And remember, the only thing more scarce than bitcoin is time!
Jor