Jan. 22, 2025 - The David Knight Show
09:26
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| Time | Text |
|---|---|
| Some people are asking, is Trump trying to undermine the dollar with crypto? | |
| Crypto advocates and industry analysts are weighing the role of crypto, specifically Bitcoin, in the economy and whether Trump's stated pro-crypto policies will prop up the U.S. dollar or erode its position as the global reserve currency. | |
| The president of industry advocacy group Texas Blockchain Council said that Bitcoin occupies the same place as gold and is not a competitor to the U.S. dollar. | |
| The crypto industry advocate added that the over-collateralized dollar-pegged stablecoins will likely extend U.S. dollar dominance. | |
| Well, that's kind of interesting, isn't it? | |
| Because who is the king of not just meme coins and Who's the king of stablecoins? | |
| Oh, yeah, that's Howard Lucky Lutnik again. | |
| So, what this guy is saying, the advocacy group for blockchain and for all these different things, he's saying, no, you know, the U.S. dollar will actually be helped by stablecoins. | |
| Isn't that interesting how the paradigm of that is exactly the opposite of what has been sold to us? | |
| We've been told... | |
| A stablecoin is stable because we've got it pegged to a currency. | |
| And now what they're saying is that the dollar is going to be stabilized because it's tied to crypto. | |
| See how they flipped that upside down? | |
| They flipped the narrative, haven't they? | |
| Now we've got stablecoins stabilizing the dollar. | |
| And all of it is around... | |
| Lucky Lutnik. | |
| His Tether coin is the biggest one. | |
| So he's like the guy. | |
| And he's going to be the Commerce Secretary. | |
| So the Commerce Secretary, who's Mr. Stablecoin, Mr. Tether, and these guys are saying, yeah, we're going to get rid of the dollar. | |
| Well, no, what we'll do is actually Stablecoin will help the dollar. | |
| He's putting himself and his company and his interest and everything at the very center of taking control of the dollar. | |
| I mean, are we going to have some kind of a public-private partnership to replace the Federal Reserve, for example? | |
| Everybody's sick of the Federal Reserve. | |
| It certainly has outlived its institutional life, hasn't it? | |
| You know, that's typically what most of the fourth turnings are about because about every 70 to 80 years, people get absolutely disgusted with the institutions that have been created. | |
| They realize how corrupt they are by that point in time. | |
| And so it's time to... | |
| Throw those things off and create some new corrupt institutions that people don't know anything about. | |
| It's the same game that the pharmaceutical companies do. | |
| Well, everybody's on to what's happening with Cipro, so let's create something different. | |
| And we'll give it a different name, and we'll tweak it a little bit, and we'll patent it, and we'll extend our profits on that by patenting it. | |
| We'll call it something different. | |
| They won't know what it is, right? | |
| Just give it a new name. | |
| So maybe that's what's happening with these people. | |
| I'm just trying to work through the different possibilities here. | |
| We're way overdue for a complete restructuring of the financial system. | |
| And, of course, that was part of the directive from Biden to his people. | |
| Yeah, we've got to have, tell us how we're going to do CBDC. And the first thing we've got to figure out is how we're going to completely reconstruct the financial system. | |
| Well, this would be one way, isn't it? | |
| And, of course, everybody would be on guard if it were Joe Biden or Hillary Clinton, but not if it's Donald Trump. | |
| He's so pro-American. | |
| So that if we want to continue U.S. hegemony, we need the dollar to remain the world's reserve currency. | |
| And for that to happen, we need stablecoins to proliferate. | |
| Because stablecoins are giving dollar access to people across the world. | |
| And it's all going to run over the desk of our new Secretary of Commerce, Howard Lucky-Lutnik. | |
| He just keeps getting luckier and luckier, doesn't he? | |
| I mean, he started with being so lucky on 9-11. | |
| He didn't show up to work that day. | |
| And now he just happens to be at the confluence of a new financial system, perhaps, with a stablecoin being kind of the reserve currency. | |
| Trump previously told Maria Bartiromo of Fox News that the U.S. government could use Bitcoin to offset the $35 trillion national debt. | |
| There you go. | |
| So, you know, look, I mean, just one guy can make $58 billion? | |
| We can easily pay off the whole debt with meme coins, couldn't we? | |
| This is very similar to the trillion-dollar coin idea. | |
| Hey, let's just print. | |
| They'll print a trillion-dollar coin at the U.S. Mint, and then they'll take it over and give it to the Federal Reserve and say, here, you're paid. | |
| And I'm not joking. | |
| The, you know, fiat currency, meme coin, aren't they really pretty much kind of like the same thing? | |
| And this has actually even been suggested by Mark Cuban. | |
| He says we could pay off the federal debt by doing a meme coin thing. | |
| He said everybody would like to get into the game. | |
| It's like a casino. | |
| It's like bingo. | |
| Bingo. | |
| It is a casino, isn't it? | |
| That's what Trump is all about. | |
| Casinos. | |
| Organized crime and ripping people off. | |
| And ripping off people. | |
| Casinos, as one person said, is a business that's been created on the backs of people who can't do math. | |
| Keep playing. | |
| You're going to win someday. | |
| The longer you play, the more likely you're going to lose everything. | |
| But they tell you just the opposite. | |
| I'm going to keep playing so that eventually I'm going to win. | |
| No, you will certainly lose if you keep playing. | |
| But, yeah, it's all about a casino, and that's what we're looking at here. | |
| It's like back to the future, and Biff won. | |
| He's now president, and we've got casinos everywhere, and we're going to turn the entire country into a casino, and the guy who bankrupted six casinos is going to bankrupt us as well. | |
| The CEO of Bitcoin financial services company Bitcoin Well told Cointelegraph that Trump would likely use Bitcoin to prop up the ailing U.S. dollar in the short term, but would not abandon the dollar. | |
| I don't see President Trump being based enough to de-dollarize the USA. | |
| I think that ultimately the USA will be de-dollarized, but I don't think it'll be Trump that brings that to fruition, though. | |
| Crypto quant founder and CEO said that Trump is unlikely to establish a Bitcoin strategic reserve and may even backpedal on promises of pro-crypto policies if the United States is getting further in debt. | |
| So we look at this. | |
| Tony and I have talked about this. | |
| Tony Arderman, Wise Wolf Gold, and we look at what is happening to the dollar. | |
| This may be a very clever but devious way for them to prop it up using stablecoins and things like that and start to bring in crypto. | |
| But the bottom line is that as this is happening here, the European Central Bank is still going forward with CBDC stuff. | |
| They're not going to back off of it. | |
| They're going to continue on with it. | |
| You know, the Five Eyes. | |
| The intelligence agencies of the U.S., U.K., Canada, New Zealand, Australia, they are looking at social media and they realize we understand what the game is with CBDC. And so they pull back and they're going to do an end run using Trump and using stable coins and other things like that to essentially get us to a completely... | |
| Different system, the public-private partnership, at least for these billionaires around Trump, these crypto billionaires. | |
| But in Europe, you've got Christine Lagarde, the president of the European Central Bank, saying, well, 2025 is going to be a great year. | |
| We're going to have legislation coming out of the EU for an EU digital euro. | |
| We are in preparation phase, and we're expecting European legislation, she said in her New Year's message. | |
| She said another significant development on the horizon is our digital euro. | |
| Hello, it's me, Volodymyr Zelensky. | |
| I'm so tired of wearing these same t-shirts everywhere for years. | |
| You'd think with all the billions I've skimmed off America, I could dress better. | |
| And I could if only David Knight would send me one of his beautiful gray MacGuffin hoodies or a new black t-shirt with the MacGuffin logo in blue. | |
| But... | |
| He told me to get lost. | |
| Maybe one of you American suckers can buy me some at thedavidknightshow.com And David is giving a 10% discount to listeners from now until 2025. At that price, you should be able to buy me several hundred. | |
| Those amazing sand-colored microphone hoodies are so beautiful. | |
| I'd wear something other than green military cosplay to my various galas and social events. |
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