Tomorrow at 10:00 am the House Financial Services Committee is set to consider H.R. 8957, the American Reserve Modernization Act of 2026. This bill was introduced back in May by Republican Rep. Nick Begich of Alaska, and the legislations lead cosponsor is Democratic Rep. Jared Golden of Maine, making it a bipartisan bill.
Under this legislation, the Treasury Secretary would establish two separate structures. First, within 180 days of signing into law, the Treasury Secretary would establish a secure storage facility, the Strategic Bitcoin Reserve. Second, a separate "Digital Assets Stockpile" would be established to handle all other crypto besides Bitcoin held by the Federal Government. The Treasury Secretary would have discretion to sell, exchange, or convert non-Bitcoin crypto, and the proceeds of this are required to be used to increase the Strategic Bitcoin Reserve OR reduce the National Debt.
Since this is legislation, naturally Bitcoin had to be defined. Called "qualifying Bitcoin," this is BTC finally forfeited through criminal or civil asset forfeiture proceedings, or received in satisfaction of certain civil monetary penalties subject to requirements under existing Federal law.
The Strategic Bitcoin Reserve is subject to a long holding period as well. Bitcoin the government currently has would have to remain in the reserve for at least 20 years from when the reserve was created. Bitcoin added after the fact would also face a 20-year lock-up where it could not be sold, swapped, auctioned, etc. Two years before the minimum holding period (18 years after creation), the Treasury Secretary is required to provide a report to Congress with recommendations on whether the Government should continue holding its Bitcoin or permit a gradual release. At the 20-year mark, the Sec. could recommend selling up to 10% of the reserve during any two-year period. This limits any sort of release that the Administration at the time would want to perform.
In a move to keep the Government's BTC holdings public, the Treasury would also be required to establish a public-facing, ongoing proof-of-reserve system, disclose holdings and transactions, and have these reports reviewed by an independent third-party auditor.
The legislation also touches on a variety of other things, like budget-neutral BTC purchases, states being able to put their BTC holdings in segregated accounts within the reserve, protecting private ownership by stating that this bill cannot be used to authorize federal seizure or confiscation of lawfully acquired Bitcoin, and more.
Petrodollars Demise Pumps Bitcoins Utility -
Utility for who?? The governments that mine it for themselves and ban civilian use? Or for civilians with private property rights? You claim to be in favor of peaceful trade and your favorite governments kill more of their own peaceful protesters than the US kills of enemy combatants during wartime.
Seriously, the official casualty estimates, per Iran, are between 3 and 4 thousand kills from the US and Israeli militaries, and between 3 and 4 thousands kills of civilians by the Iranian government. Of course it's actually tens of thousands of dead protesters and they're lying about it, not to mention apostasy from Islam is legally punishable by death. That alone justifies a crusade.
Not sure if you realize this but the US government actually doesn't kill people just for being anti-American communists. They get deported if they entered illegally, but they only get shot if they're dumb into to drive a car into law enforcement personnel. We are nicer to our enemies than any other regime on the planet.
I have no favourite governments- this is a repetitive and absurd assertion you repeat ad nauseam.
It is true that Chinas economy is demonstrably more competitive productive and profitable than USA but that is not favouritism on my part but simple factual observation.
Bitcoin has utility as the petrodollar declines as it provides a neutral SoV and MoE outside of any super powers dominance and control.
Trump and his cronies will use crypto to stash their wealth while leaving most US citizens with worthless USDs.
Britains second empire doco is recommended viewing for you to understand this.
Yeah no it's not. This is bias in favor of the communist regime and completely out of touch with reality. Unfortunately the only way to definitely prove that capitalism is a better system is with a war. Since you won't listen to reason, this is the only way to make the productive and moral advantages undeniable.
Citizens bear a personal responsibility to acquire Bitcoin to preserve their own wealth. The government's role is to defend international trade from communist meddling, not to dictate everyone's investment decisions, and if people think loaning money to the government at 4% interest is a good idea, that's a problem they've caused for themselves. The government doesn't force anyone to buy bonds. Taxation to pay back the bonds would be coercive, but Trump is lowering taxes.
It's really impossible to explain to you because in your insane "mixed economy" worldview, the government is robbing from most citizens by not stealing enough from the rich ones. No, taxation itself is the robbery. Poverty isn't caused by the government not giving the poor enough money. It's caused by government interference in market calculations.
You don't fix poverty by taking from the rich and giving to the poor. That increases poverty. If you don't see this then I can't make you see it. The most I can do is prevent whatever culture that is from spreading into my territory.
But of course you're not interested in economic systems anyway. You just want to stick it to the evil West somehow. So I refer you again to the numbers on Iran, in which the Iranian government is currently killing more Iranians than the US government. This is winning to you? You're letting your supposed allies and neighbors die in exchange for a favorable article in the Guardian. You're losing the war, and the longer you go on without surrendering the more you will lose.
Chinas trade surplus exceeding $1 Trillion compared to USAs chronic trade and fiscal deficits and total debt of $40 Trillion.
China is more productive and successful in the global economy and USA is the loser - jealous, broke and scared.
USA cannot make more Interceptors unless Chairman Xi ends his embargo on refined rare earths.
Petrodollar Empire is collapsing under TACO Trumps crony capitalist incompetence.
But the communist party isn't competing with the USA's economic productivity. They're competing with the entire world's free market, including their own, over the authority to torture and kill their own civilians for religious reasons.
Yes, of course mainland China can beat the United States at manufacturing, but that's not the game being played. We know what kind of regime this is, and their actual objectives are much easier to thwart than a purely economic competition. Like Iran, they waste way too much energy on attacking their own civilians to be fighting naval battles.
I fully expect the ROC to be a richer country than the US within some 50 years after the war and that's okay. "Hegemony" and imperialism were your made-up projections about what the US wants. We don't care if someone else is richer than us. That's the basis of our entire economic system and way of life. What triggered the war was not the possibility of China becoming richer than America. The problem was the communists' inability to back off from attacking US sovereignty, Christendom, and our allies China and Japan. The PRC exports communism abroad and interfered in our internal affairs.
This is utter nonsense.
USA maintains its global petrodollar hegemony via alignment with some of the worst despots and autocracies. As long as you will support the US and its oil companies, military exports and petrodollar Uncle Sam does not give a fuck about you murdering journalists, activists or anyone of your citizens.
No, USA is scared and threatened and beaten by China because China is bigger and stronger and does not kow tow to US imperialist dictates. China buys oil from Iran despite unilateral US sanctions becasue USA cannot afford to sanction China.
USA needs China and the refined rare earths and other supply chains that China now dominates globally.
You mean Taiwan and Japan. That's what "despotic autocracy" means to you, apparently. Your issue is not actually with Indonesia and Chile. You're using that as an excuse. There's plenty more examples of communist massacres I can use as an excuse also.
But yeah, it is indeed okay to kill PRC citizens because it's a war that they started. If they can have support from the Soviets then it's only fair that the ROC has support from the US. If you don't like it come kill me. We're doing this. We're playing the collectivist game now. No more individualism, it's just red vs blue now.
You always have to reach for 20th century edge cases that didn't involve Trump. I can pull up the PRC's written domestic law right now and show you where it says individual rights can be trampled by the government any time for any reason. Moreover, between the supporters of these respective regimes, one side is clearly worse than the other and has a worse vision for how society should operate.
Scoreboard. Look at the Iran war casualties. The IRGC is killing more Iranians than the US. Chávez destroyed Venezuela, not the US. Communists harm themselves too much to engage with an external force.
It's an absolute no brainer to sell all the shitcoins and buy Bitcoin with the proceeds. It makes no sense for the treasury to hold shitcoins. If a US sovereign wealth fund wants to hold them as a venture style investment fine but not the treasury.
It’s probably just to have a formal structure for a ”stockpile” of seized and confiscated shitcoins
This is exactly right. One lane just establishes the rules for Bitcoin and the other is what to do with shit coins be it pay down the national debt (I’m not opposed to) or turn it into BTC
https://www.wsj.com/finance/currencies/trump-made-1-billion-on-crypto-deals-while-his-fans-lost-a-fortune-408754c9?
'It has been clear for some time that President Trump’s forays into the crypto world have been lucrative, but the stunning disclosure that those ventures earned him some $1.4 billion last year underscored the different reality the president is living in from many of the investors who have embraced digital assets alongside him.
The president raked in cash by issuing new assets—World Liberty tokens and memecoins. But those who bought them at high prices had to suffer as their value went belly up, part of a wider crash in crypto. Political followers and crypto true believers who bought into the Trump brand were left holding the bag. A crypto summer for the president was a crypto winter for them.'
TACO Trump is a shitcoin scammer.
Taking your entire nation for a ride and owned by Zionist war criminals.
https://www.wsj.com/finance/currencies/trump-made-1-billion-on-crypto-deals-while-his-fans-lost-a-fortune-408754c9?
https://archive.ph/tPuU7
If the government is going to hold crypto, I’d much rather see the focus stay on Bitcoin.
Yes but USA elected a shitcoin spruiker for President.
When they they seize criminal activity crypto they often get a whole slew of tokens so this just establishes a process for converting them
https://www.wsj.com/finance/currencies/trump-made-1-billion-on-crypto-deals-while-his-fans-lost-a-fortune-408754c9?
Meanwhile the Petrodollar Empire is Outta Interceptors
Congressional Budget Office says Iran war has severely depleted US missile interceptors
The United States has used between half and two-thirds of its inventory of several key missile-defence interceptors amid operations in the Middle East, with the war on Iran accelerating the depletion, Reuters reports, citing the Congressional Budget Office.
The estimate covers Patriot, THAAD, SM-3 and SM-6 interceptors. The federal agency said rebuilding those stockpiles could take at least five years, even if production rates increase.
According to Reuters, the office estimated that replacing missile-defence interceptors would cost about $13.1bn, part of a wider $21.7bn bill for replenishing munitions. Another $7.3bn would be needed to replace land-attack cruise missiles.
The Congressional Budget Office, which provides cost analyses for US lawmakers, said the depletion leaves fewer interceptors available for a potential future conflict. Reuters noted that the calculation is an estimate because the Defence Department does not publicly disclose the size of its interceptor inventories.
Klas