Hello, friends. Unless you’ve been living under a rock or are involved in some profound social media / news cleanse, you are likely aware that earlier this month Uncle Sam approved 11 spot Bitcoin ETFs to trade in the USA.
Speaking of rocks… BlackRock is nearing $2 billion in Bitcoin held in their spot ETF.
Fidelity, Bitwise, and Franklin Templeton are among the other major names with Bitcoin ETFs now available for trade.
The process through which ETF demand gets converted into Bitcoin buys for the fund seems — to me at least — rather inelegant, a kind of Rube Goldberg contraption that needlessly elevates USD and a sea of lawyers, rather than reliance on “on chain” and “in-kind” activity.
But to be clear, the goal years ago was to get bankers using our Bitcoin instead of made up US dollars and euros, and in that regard we have been wildly successful.
Some of the highest traded ETFs of the past week have been these “spot Bitcoin ETFs” where, in theory at least, the asset investors are seeking to gain exposure to is Bitcoin itself.
Not more dollars.
Not more land.
Not more condos or summer homes or yachts.
Bitcoin.
Fidelity. BlackRock. Franklin Templeton. Bitwise. VanEck.
All working, each weekday with few exceptions, with Bitcoin — our thing.
We won. The goal is to get everyone using Bitcoin; fair p2p money not pre-mined into existence by a bunch of DC/Virginia pizza head mediocrities.
The pizza heads were so busy with vaccine mandates and propaganda and MSM “Fact Checks” and controlling what’s left of Hollywood and the hollowed out national culture that … in the meantime … they lost the entire fucking Monopoly board.
Incredible.
Far downstream of all these losers in Virginia and DC (and to a lesser extent, the slaveless masters in Brussels and London) was that a few centuries ago, Mayer Rothschild was actually a very smart newcomer to the currency community.
So smart in fact that within a few generations, his family owned a considerable part of the entire game board here in sacred West.
The oft quoted Rothschild aphorism is that I care not who rules, as long as I control the money … care not who has the crown, so long as the money rules get made by us … etc.
The Bitcoin ETFs were approved in the United States by a near-deadline 3 to 2 SEC vote. Gensler, himself a Democrat and deeply deepstate, was the deciding vote in favor — both of the other Democrats with voting power voted AGAINST these ETFs.
The Republicans, being limited government and theoretically in favor of non-state issued money, voted for.
The most significant financial development of the last 20 years, and it almost didn’t happen. ;)
Forbes says the ETF approvals pave the way for a new global monetary standard … not my words or thinking, Forbes’ thinking.
The real populism is having money that kicks the Clintons, the Podestas, old Soros and all these other literal rent seeking stains to the curb of our civilization — first to the shores of irrelevance, and then to the poor house.
The community should feel really successful. Flipping the money changer table is a literal biblical aspiration, and here we are, on the other side of it.
My broad view is that markets are generally fair at scale, but that it takes time to build a real market. The more banks, Wall Streeters, and ETFs who play in our sandbox — instead of pretending their made up shit token is a decent reserve asset — the better off for humanity, civilization, and industry.
50 million or more Americans own crypto at this point. If it were a political party, it would be large enough to rival the Democrats and Republicans.
One thing is clear and that is that no amount of great leadership would change the fate for the common man and woman here in the USA. A regime riding on a nearly 80 year old world war win … the people who fought the war are dead, the tanks and aircraft carriers and weaponry all but literally rusted away and forgotten.
Yet the world is hungry today in 2024. Hungry, and restless. The nearly 8 billion humans on this planet won’t cede endless ground to a handful of elderly bureaucratic “elite” blabbering about in DC and at Davos.
With each passing day, the funders of our traditional political system reveal themselves further as little more than glorified football team owners or theatre families.
Let the theatre families keep funding the bullshit for a few more years. I could cry out against it — and I have — but their fiat money still buys a good show. They can still drown us in spectacle, for now.
Let these freaks perform on a stage and in a theatre we now completely own. Mere actors, in a world desperate for authenticity.
Onward,
D