Topic: 700 billion in vain! Now let government buy bitcoins! (Read 1007 times)

QFT!

You do realize that governments do not hold much power and are actually just figurehead to give the citizens the illusion of choice through voting to keep them content?

The real power is in the hands of those who control the currency, and since those who control the currency do not want to give up their control they go to great lengths to save the banking system, and not to safe the economy in general. They don't give to shits about the economy, the only thing they care about is whether they have control of the money supply or not because they realize control of money = control of power.

Also, bitcoin is a direct threat to their power, because no one controls bitcoin and no one will ever be able to control bitcoin, that's the whole point. They will fight to try and keep their control but they will not succeed unless we allow them to.

Notice that 700 billion+ bailout money created out of nothing has never been given to the government, the government only borrow some of those money from FED and they have to pay back the principle + interest at a later time

All these money belongs to FED, they use those money to buy MBS and government bonds from commercial banks and the money went into commercial bank's hand. The commercial banks then deposit back majority of those money into FED's account to receive a small interest on them

I don't think the bankers have any motivation to spend those trillions of cash to buy bitcoin. Bankers will be very careful to not strengthen the bitcoin so that it becomes a major currency (means their money printing game will be over)

I think if the government were to buy $350 billion worth of bitcoin, we would be very scared.

If all the fiat goes to the shitter due to epic bank corruption governments will be demanding taxes in Bitcoin faster than chicks who sit like this get this like this.

It's nice to dream.

They should take all of the stolen money and work on solar power too and give it to the poor and give it to schools and give it to me, give it to you...etc...

We should all just go steal money and spend it on some great things. Why wait for the government to do it?

This idea is similar to another that，if everyone in the world gave you a penny，you can become a millionaire.however, the government does not fulfill such individual or to a group.

Which governments? US?

The one thing it seems you've overlooked is all the fiat "wealth" with vested interests IN fiat...old money - no way in hell would they invest in bitcoin because their entire realities are tied up in being able to maintain it at the expense of everyone else. They don't see the future the way we'd see it. They would maintain the status quo. Investing in an alternative currency beyond a certain point begins to have an adverse impact on the USD currency. The less people use it, the less it's worth. Foreign governments have for several years now been striking their own deals to trade in their own currencies and bypass the usd as the reserve. That weakens the USD and threatens the wealth of all that old money, corporate money.

The day bitcoin manages to become the world reserve currency is the day all fiat holders net worth plummets. No way in hell they'll get behind it and they'll use their resources to do everything they can think of to keep any alternative at a distance - fear mongering, planted tales of hackery and terrorist linkage, laced with tragic tales of pedo porn and oh, poor Johnny bough an AK47 off the black market with bitcoin and shot up the school! And then trying to regulate it and impose fines and all sorts of their typical maneuvers that will not devalue bitcoin but make it even more desirable as protection from an overzealous, greedy, out of control government.

True, the smart thing would be for world governments to agree to shift to a world currency that is decentralized and unregulated and figure out a way to shift or unload that debt but it's not going to ever happen as a body of interest.

It will, however, happen with individual members of government of various agencies who see the tanking economy and secretly invest as much as they can in bitcoin as protection for when their own agencies wreck the global economy one time too many...

Cryptocurrency does not mean cryptoconspiracy.  

Goverments sponsoring banks because without them all systems of modern economy stops. When bitcoin became a really big system with much larger infrastructure goverments would invest in it. But not now, because a lot of people are not ready to convert there funds in bitcoins. Today there is no realistic and time-based plan to change all transactions from fiat to cryptocurrency.

I am just telling let government put money in technology and innovation to revive the economy back..

So wait, you are saying that when printing money doesn't solve the economic woes, the answer is to just print some more money.  How about governments stop deluding themselves into thinking that economies can be controlled (the track record of the fed has been abysmal) and let the economy recover on its own rather than picking winners and losers.  

It is always fun to dream about how to spend other people's money.

Just think what that 700 billion+ bailout for the banks did, Did it trickle down to the lower strata of the society? A big NO..

The 2008 crash that led to global recession bringing the age of "crisis of capitalism" is not over and there are no clear solutions for this state of world economy.

But instead of 700 hundred billion given to banks, let government invest and buy bitcoins atleast for half of say 350 billion...That would create millionaires out of bitcoin, litecoin, dogecoin early adopters and enthusiast.

They in turn will go buy goods including luxury goods and cars which will revive the economy and entrepreneurs will start business and start to innovate new technologies which will provide employment to millions of people across globe...

This is far much a better solution than the 700 billion given to banks...