Latest / Simply Bitcoin / Congress Just Filed To Buy 1,000,000 Bitcoin! (Nobody Noticed) | Simply Originals

Transcript

Congress Just Filed To Buy 1,000,000 Bitcoin! (Nobody Noticed) | Simply Originals · Simply Bitcoin

• 0:00
  Breaking Jerome Bell is out Kevin Wash is in sworn in by
• 0:04
  Justice Clarence Thomas yesterday morning Bye bye 2%
• 0:08
  inflation target hello. Grow our way out of debt.
• 0:14
  Grow our way out of debt. What he means is we're going to
• 0:16
  inflate it away. We're going to grow the money
• 0:18
  supply which brings us to the other story today.
• 0:22
  Except it's not really the other story.
• 0:24
  It is the same story because while one branch of government
• 0:28
  was busy installing the man who's about to plummet rates,
• 0:32
  another branch was busy passing a bill to buy a million Bitcoin.
• 0:36
  Congressman Nick Begich's strategic Bitcoin Reserve bill
• 0:40
  just picked up its 21st Co sponsored, not prophetic at all,
• 0:45
  200,000 Bitcoin a year for five years, funded by revaluing the
• 0:52
  gold. The Treasury's been pricing at
• 0:54
  $42.00 since Nixon was on TV. By the end of today's show you
• 0:59
  will understand why no one is bullish enough.
• 1:03
  Botard helmets on special shoes laced.
• 1:08
  Oh yeah, what's? Going to happen.
• 1:15
  I had a rotten head of the Fed and now I have a great head of
• 1:18
  the Fed today, Kevin Walsh. Kevin was just sworn in today.
• 1:24
  He's great. He's going to be great.
• 1:27
  And now? Congress is on the cusp of
• 1:29
  passing the most important piece of housing legislation in a
• 1:33
  generation. But to be honest with you,
• 1:36
  housing. Is all about.
• 1:37
  Interest rates. I know more about housing than
• 1:39
  anybody in history. No presidents ever.
• 1:41
  I built that lot of housing and they can pass all the bills they
• 1:45
  want. It's about interest rates.
• 1:47
  You get the interest rates down, everybody's going to be very,
• 1:50
  very happy. We're going to get it down very
• 1:51
  quickly. OK, before we get to the news
• 1:54
  today, we must say goodbye to a legend.
• 1:57
  That's right, get off your arse and give this man a salute.
• 2:01
  The CEO of the Bitcoin marketing team for years told Trump to
• 2:07
  fuck off. You have to respect it.
• 2:09
  And you know what kind of get their beef now and why he can't
• 2:12
  beef that chairman anymore. You see, unlike Kevin Wash, J
• 2:18
  Powell wasn't in the Epstein files, at least as far as I
• 2:21
  know, unlike Trump and Wash. And that's not how you get
• 2:26
  promoted in America. So maybe in a weird way, it all
• 2:29
  makes sense now. Maybe, just maybe, Jerome was
• 2:33
  actually reviewing Trump's expenses for the ballroom the
• 2:37
  whole time. Anyway, Godspeed legend.
• 2:40
  No, Fed chair, we'll match the timeless historic economic means
• 2:45
  you provided, and thus Bitcoin ammunition and Bitcoin
• 2:50
  education. And how could we forget your
• 2:55
  hatred of hippies by refusing to treat climate change like this
• 2:59
  is OK? Thank you.
• 3:02
  Thank you very much. Thank you very much.
• 3:07
  Thank you. Just close the door. close the
• 3:13
  door. Damn it.
• 3:17
  I'm gonna miss him. All right, enough with that.
• 3:20
  Now, let's start with Warsh because before you celebrate the
• 3:23
  guy who's about to plummet your rates, you should probably know
• 3:26
  who he is. Kevin Warsh is a hawk, career
• 3:29
  hawk, lifelong hawk. The Reuters profile that dropped
• 3:32
  yesterday, and I'm not kidding, literally said this guy spent
• 3:35
  years warning about runaway inflation when inflation was,
• 3:38
  quote, flatter than a pancake. That's a real sentence from
• 3:41
  Reuters and NPR about the new Fed chair.
• 3:44
  Schwab pulled his old speeches. Here's one with inflation above
• 3:48
  2% for five years counting, the committee can't be complacent,
• 3:52
  he said that on the record. Yeah, that sounds like a guy
• 3:55
  who's about to cut rates to me. Real dovish energy and this is
• 4:00
  the guy Trump just hired to plummet interest rates with
• 4:03
  inflation at 3.8% with gas at 4:50 a gallon.
• 4:07
  What we're doing? Whatever the corporation starve
• 4:09
  humanity in the Strait of Hormuz.
• 4:11
  So read me this. What happens when you take a man
• 4:15
  whose entire 20 year career is built on the premise that
• 4:17
  printing money is bad and you put him in charge of the printer
• 4:21
  and the boss who hired him is on TV every morning screaming print
• 4:25
  more? I'll tell you what happened.
• 4:28
  He prints more because here's the thing nobody wants to talk
• 4:31
  about. There is no version of this
• 4:33
  story where Kevin Walsh becomes Volcker 2.0.
• 4:36
  Volcker had Carter's permission to wreck the economy to save the
• 4:39
  dollar. Walsh has Trump.
• 4:41
  Trump does not give permission to wreck anything.
• 4:45
  Trump tweets and does it himself.
• 4:47
  So Walsh has 2 doors. Door 1.
• 4:49
  He holds the line. Trump nukes him on Truth Social
• 4:53
  markets melt and he's gone by August door to he finds a clever
• 4:57
  new framework with a clever new acronym.
• 4:59
  We all know the acronyms gives a clever speech about
• 5:01
  forward-looking neutral and cuts with a straight face.
• 5:05
  Pick one. There is no door 3.
• 5:06
  And listen if you think I'm being cynical look at the market
• 5:10
  knows Bitcoin dropped under 77 K on the news on the day a pro
• 5:15
  Bitcoin fed chair got sworn in. Think about that.
• 5:18
  The most Bitcoin friendly fed chair in history takes the oath
• 5:21
  in. Bitcoin sells off because the
• 5:23
  market isn't trading what Warsh says.
• 5:27
  The market is trading what he was hired for.
• 5:30
  Which conveniently brings us to the other thing that happened
• 5:33
  yesterday. Well, worse was getting sworn in
• 5:36
  by Clarence Thomas. A congressman from Alaska named
• 5:39
  Nick Begich was on the House floor doing something much
• 5:41
  quieter, but much more interesting.
• 5:44
  He told us at Bitcoin 2026 something big was coming.
• 5:48
  In the House and Senate will be familiar with the Bitcoin Act
• 5:51
  and the Bitcoin Act. I came out in the 118th
• 5:55
  Congress. Senator Lummus introduced it in
• 5:57
  118th. Her office and I work together
• 6:00
  on some revisions, some important revisions to that
• 6:03
  legislation and I introduced it in the House.
• 6:05
  She reintroduced it in the Senate in the 119th Congress.
• 6:08
  That's the Congress that we're in right now.
• 6:11
  I've been working that legislation in the House, and
• 6:15
  there's been a number of folks that I've spoken with on the
• 6:19
  Financial Services Committee and another important committees of
• 6:22
  influence, and we've gotten some really good feedback from folks
• 6:26
  about what they would need to see in order to vote yes on this
• 6:30
  legislation. And so we've been working with
• 6:33
  the Financial Services Committee to make some updates to that
• 6:36
  act, and we'll be planning on reintroducing this as the
• 6:40
  American Reserves Modernization Act, or ARMA.
• 6:44
  And why, why the renaming? Because it's so important for
• 6:47
  people both in Congress and across the nation to understand
• 6:52
  what we're actually trying to do.
• 6:53
  We're trying to make sure that Bitcoin is treated like the
• 6:57
  reserve asset that it is. We want to make sure that we
• 7:01
  have a place to to store our Bitcoin, that that bitcoins
• 7:05
  going to be held for a long period of time, that it's going
• 7:07
  to be prevented from being attached, right.
• 7:10
  So you can't lend against it. And we can't have that political
• 7:13
  pendulum that we see so often in the United States impact our
• 7:17
  reserves policy as it relates to Bitcoin.
• 7:20
  It allows us to go out into those government agencies,
• 7:23
  identify where Bitcoin is currently being held and custody
• 7:27
  that Bitcoin in a responsible manner consistent with its
• 7:30
  reserve status. And so this has been one of the
• 7:34
  many things that I've been working on.
• 7:36
  And Congress, I'm proud to say that as of today, I've passed
• 7:40
  more legislation into law than anyone in the House or Senate.
• 7:44
  And so we've got a strong thank you.
• 7:50
  We've got a strong focus in my office to construct legislation
• 7:54
  that has an opportunity to pass both chambers.
• 7:56
  And that's what we're doing with the American Reserves
• 7:59
  Modernization Act. Wow, what's the rough timeline
• 8:04
  there? Well, I'll tell you what, I
• 8:06
  don't control the timeline. That's one thing I don't
• 8:09
  control. But we're looking at a
• 8:11
  reintroduction here within the next couple of weeks.
• 8:14
  Amazing, Arma. You heard it here first.
• 8:18
  He's modernizing the US balance sheet by accident, on purpose.
• 8:23
  Here's the bill. It's called the American Reserve
• 8:25
  Modernization Act, ARMA. And to understand why ARMA might
• 8:29
  be the most important piece of legislation filed this decade,
• 8:32
  you have to understand one fact about how the US government
• 8:35
  values gold. The Treasury owns 8133 tons of
• 8:40
  gold, roughly 261 million oz, sitting in Fort Knox, allegedly
• 8:44
  West Point and the vault under the New York Fed on the official
• 8:47
  books, the books Congress votes on the books, the Treasury
• 8:50
  reports to the public. The gold is valued at $42.00 an
• 8:55
  ounce, $42.00 gold trades on the open market today at 4522 bucks,
• 9:02
  something like that. The number has not been $42.00
• 9:06
  since Tricky Dick Richard Nixon was apologizing on television
• 9:11
  197353 years ago. The Treasury has been pricing
• 9:14
  its gold like it's a Coca-Cola 70s vending machine.
• 9:18
  Real value of US gold reserves on the books?
• 9:21
  Allegedly $11 billion. Real value at market, $874
• 9:25
  billion. That's an $863 billion
• 9:28
  discrepancy hiding on a public balance sheet for half a
• 9:32
  century. Like a couch cushion with a
• 9:34
  Picasso in it. Begich's bill says, and I'm
• 9:37
  paraphrasing only slightly, Hey guys, what if we acknowledge the
• 9:40
  couch cushion stroke of a pen? No money printed, no new debt,
• 9:44
  no congressional spending vote. You just write the real number
• 9:47
  next to the Gold Line and you essentially have 800 billion of
• 9:51
  new reserves on the Treasury's books.
• 9:53
  Reserves you can spend. Spend on what?
• 9:57
  I'm glad you asked. 200,000 Bitcoin a year for five years.
• 10:01
  1,000,000 Bitcoin total. Roughly 4.7% of the total supply
• 10:06
  that will ever exist on this planet.
• 10:09
  Bought with gold that was already in the basement.
• 10:11
  Reminds me of an evil genius strategy.
• 10:16
  So the very simple idea is buy 20 or 25% of the Bitcoin network
• 10:23
  on behalf of the US government, catalyze the development of that
• 10:28
  world reserve capital network, and then let all the Chinese and
• 10:31
  the Russians and the foreigners sell all their other assets and
• 10:35
  buy Bitcoin, and then the money flows into the United States.
• 10:38
  If you want to put a great a great twist on it, dump your
• 10:42
  gold, sell all the US gold, buy Bitcoin, Then the trade is free
• 10:46
  because you could buy 5 million Bitcoin for the cost of the
• 10:49
  gold. You will demonetize the entire
• 10:52
  gold asset class. And our enemies hold gold in
• 10:56
  their banks, so their assets would go to zero.
• 10:59
  Our assets would go to $100 trillion and we would control
• 11:05
  the world's reserve capital network as well as the world's
• 11:07
  reserve currency network. As usual, you're painting a
• 11:11
  grand and and vivid picture, Michael, with this kind of
• 11:14
  stuff. No taxpayer pays no deficit.
• 11:17
  Gross. No bond gets issued.
• 11:19
  You just swap one monetary asset that central banks have been
• 11:22
  hoarding for years for a different monetary asset that
• 11:26
  central banks are going to be hoarding for the next
• 11:29
  foreseeable future, century and beyond.
• 11:32
  And here's the part where it gets weird.
• 11:34
  Judy Shelton, Trump's old Fed nominee, the gold standard lady,
• 11:37
  has been quietly shopping a 50 year gold convertible.
• 11:42
  Treasury Bond wants to launch it on July 4th.
• 11:45
  Same playbook, different instrument.
• 11:48
  They're not testing a Bitcoin trade, they're testing a
• 11:50
  framework. Gold is the rehearsal.
• 11:53
  Bitcoin is opening night. Now I want to spend a minute on
• 11:56
  the name because the name is the entire strategy and almost
• 12:00
  nobody noticed. Begich did not call this the
• 12:02
  Bitcoin Act. That was Lummus's bill last
• 12:05
  year. Dead on arrival, couldn't get
• 12:06
  out of committee. Because the second you put
• 12:09
  Bitcoin in the title, all the witchcraft and ire of Liz Warren
• 12:13
  comes down. You give every undecided senator
• 12:15
  a free permission slip to vote no.
• 12:17
  And I'm not really a Bitcoin guy.
• 12:19
  I'm warned. The soy done killed in the
• 12:22
  headline. Begich learn, watch what he did.
• 12:25
  American reserve modernization act.
• 12:28
  Every word in the title is doing a job.
• 12:30
  American patriotic. You can't be against that
• 12:34
  Reserve sounds like the boring thing the treasury already does
• 12:37
  modernization. That's the kill shot.
• 12:40
  Because now the vote isn't I don't like Bitcoin.
• 12:43
  The no vote is I'm against modernization.
• 12:47
  Boomers got to appear hip and with it try running re election
• 12:51
  campaign on that. My opponent wants to modernize.
• 12:54
  I want to keep doing it the 1973 way Good luck.
• 12:58
  He didn't write a bill. He wrote a political trap.
• 13:00
  He learned from the state itself.
• 13:02
  He patriot acted the government incredible and it's working 16
• 13:07
  Co sponsors at filing on Tuesday 21 by Friday bipartisan and Epps
• 13:12
  Co leading on the Democrat side. This is not a fringe bill.
• 13:15
  This is the bill that goes to the floor.
• 13:17
  Three things it actually does and I'll keep it short because I
• 13:20
  know we don't like reading PDFs 1 codifies the SPRS permanent
• 13:25
  statute, not an executive order Trump signed and the next
• 13:28
  president throws in the shredder actual law, the kind that takes
• 13:32
  another law to undo. 2 authorizes the treasury to
• 13:36
  acquire 200,000 Bitcoin a year for five years hold a minimum 20
• 13:39
  years, no selling, no lending, no re hypothecation.
• 13:43
  That brings us 2/3 for the Bitcoin nerds in the chat cold
• 13:46
  storage multi sig, the whole posture.
• 13:49
  We're beginning to see what coordinated sovereign
• 13:52
  accumulation looks like in legislation right now while the
• 13:55
  price is under 77 K and I think that is the signal that the time
• 13:59
  is now to get your Bitcoin off the exchanges.
• 14:01
  We're about to bring it home today.
• 14:04
  Before we do, look at our legs 3 or 4 times maybe.
• 14:08
  I pump those numbers up. Those are rookie numbers in this
• 14:11
  racket. Most of you watching right now
• 14:12
  have your Bitcoin sitting on an exchange.
• 14:15
  You don't own it. You have an IOU.
• 14:18
  And when Fink's blockchain goes live and they freeze your
• 14:21
  account because you reposted the wrong meme, you're going to wish
• 14:25
  you self custody. The Bitcoin way exists because
• 14:29
  self custody shouldn't require a computer science degree white
• 14:33
  glove onboarding. They walk you through your
• 14:35
  hardware wallet setup, multi sig inheritance, planning the whole
• 14:39
  stack so when the system melts down, your stack doesn't melt
• 14:43
  with it. If you don't hold your keys, you
• 14:45
  don't hold your Bitcoin. Book your free consultation
• 14:48
  today. Click that link in the
• 14:50
  description, scan the QR head over to the Bitcoin way today
• 14:55
  and stop renting your freedom. And here's The Dirty secret
• 14:59
  about every other Bitcoin backed lender.
• 15:03
  They're lending your collateral out.
• 15:05
  They're re hypothecating it. They're playing the same
• 15:08
  fractional reserve game. The banks play with your Bitcoin
• 15:12
  and when the music stops, your stack is gone.
• 15:15
  Lendun do that. Their custody loan product means
• 15:19
  your Bitcoin sits in cold storage, never lent out, never
• 15:23
  touched. That's the Satoshi standard. 8
• 15:26
  years, $10 billion in origination. 0 customer Bitcoin
• 15:30
  lost lowest rates in the industry.
• 15:33
  No hidden fees, no fine print, auto top up so you never get
• 15:36
  liquidated by a Wick. 0 prepayment penalties paid off
• 15:40
  whenever you want. Don't sell your Bitcoin to buy a
• 15:42
  house, a car, a business. Borrow against it.
• 15:45
  Keep your stack. Scan the QR or click the link in
• 15:48
  the description and head over to leaden dot IO today.
• 15:52
  Which brings us to the funniest part of this entire week.
• 15:55
  On the same day a Bitcoin friendly Fed chair gets sworn in
• 15:58
  on Bitcoin Pizza day by the Supreme Court Justice and a
• 16:03
  bipartisan bill drops to buy a million Bitcoin with revalued
• 16:07
  gold. On that same day the price of
• 16:10
  Bitcoin went down below 77 thousand, lowest level since
• 16:14
  February. Bitcoin Twitter morning there
• 16:16
  were black guys who were calling for a million by Christmas have
• 16:19
  gone dark. Not this guy.
• 16:22
  I'm always bullish. Those guys are soft as baby
• 16:26
  shit. Half of them are now sub
• 16:28
  tweeting about all coin season. The other half they're taking
• 16:32
  breaks from the timeline to start leering centers or some
• 16:36
  shit. Smells like capitulation, and I
• 16:38
  really want you to sit with that for a second, because this is
• 16:41
  the lesson of every Bitcoin cycle and you need to learn it
• 16:43
  now or you're going to learn at the expense of way later.
• 16:47
  The bottom is not a price. The bottom is a feeling.
• 16:51
  The bottom is the moment when the news is the most bullish and
• 16:56
  the chart is the most boring or depressing emotional damage.
• 17:01
  That's what you should feel. And the people who were the
• 17:03
  loudest at the top are the quietest at the bottom.
• 17:05
  That's not coincidence. That is by design.
• 17:08
  Markets transfer wealth from the impatient to the patient.
• 17:11
  The Federal Reserve in the US Treasury just handed you a
• 17:13
  flashing neon sign that says we're going to print money and
• 17:17
  buy Bitcoin with it. And the response from Bitcoin is
• 17:21
  to be sad about a 35% drawdown. The market already knows what's
• 17:26
  coming. The macro guys see it, the gold
• 17:28
  guys see it, the bond guys see it.
• 17:29
  The only people who don't see it are the degenerates who are too
• 17:34
  demoralized by a little red candle to read the news on their
• 17:37
  own screen. So let me say it one more time,
• 17:40
  slowly, so it lands. the United States Congress just filed a
• 17:43
  bill to buy a million Bitcoin and the price went down.
• 17:46
  That is not a top signal. That is the inverse of a top
• 17:51
  signal. This.
• 17:52
  This is what sovereign accumulation looks like before
• 17:54
  the rest of the market wakes up. Tops are when your grandma apes
• 17:58
  into Bitcoin. Bottoms are when Congress does.
• 18:03
  So let's land this plane. The most expensive meal in human
• 18:05
  history, commemorated by the United States government
• 18:08
  installing a new money printer. You cannot write this stuff.
• 18:12
  The script is being written for you in real time by people who
• 18:15
  do not even know they're in the script.
• 18:17
  Now the the part where I tell you what to do, I'm not going to
• 18:21
  tell you what to do. You know what to do.
• 18:23
  You've known since 2017 or 2020 or last Tuesday.
• 18:26
  The signal hasn't changed. The signal has only gotten
• 18:29
  louder. This week the signal showed up
• 18:32
  in legislation with Co sponsors 21 and a Senate confirmed Fed
• 18:35
  chair holding the other end of of the trade.
• 18:38
  What I will tell you is what not to do.
• 18:41
  Do not wait for confirmation. The confirmation arrived this
• 18:44
  week on Treasury letterhead. Do not wait for Bitcoin to feel
• 18:49
  better. Bitcoin is not going to feel
• 18:50
  better at the bottom. That's why it's the bottom.
• 18:53
  Oh, and if you're serious about Bitcoin mining, there's one
• 18:56
  event you need to be at this summer.
• 18:58
  Mining Disrupt 2026 Miami, July 21st through the 23rd.
• 19:03
  This is the conference for miners, hardware makers, energy
• 19:06
  companies and anyone building real Bitcoin infrastructure.
• 19:11
  Keynotes, panels, massive Expo floor.
• 19:13
  The deals that shape this industry happen here.
• 19:16
  Use promo code Simply Bitcoin for 20% off your tickets at
• 19:20
  miningdisrupt.com and we'll see you in Miami.
• 19:23
  Hope you all enjoyed this one. Let us know down below if you're
• 19:26
  new here, subscribe. What the hell?
• 19:28
  We do this every day through the chop, through the doubt, through
• 19:30
  the geopolitical noise, because the signal is louder than it has
• 19:35
  ever been and the people who hear it now will be grateful in
• 19:38
  20-30 that they did give us a PAMP share the sound money
• 19:42
  gospel. The bulltard helmet stays on the
• 19:45
  special shoe stayed laced and I'll see you all next time.
• 19:48
  Look guys, if you. Prefer to go down with the ship.
• 19:53
  You.