Updated: Jun 11, 2022
During the Great Depression in 1933 Franklin Roosevelt outlawed the owning of gold by Executive Order 6102. It stayed outlawed for 41 years. Could that come someday for bitcoin? The economist John Mauldin has written about the massive debt the world is swimming in coming down in the Great Reset. Here is the The Great Reset Download.
But opinions vary!
Forbes has a good article on bitcoin as freedom of speech.
And Brian Armstrong, Coinbase.com CEO says: I think most people in the world would consider this to be a crazy thing to say, or a contrarian view or whatever. But I think there’s a chance that Bitcoin becomes the new global reserve currency.” . .
“Fiat currency historically starts off connected to some kind of hard commodity like gold or something. But every single one of these fiat currencies in history, I think there’s been thousands of them, they eventually break the peg with the hard commodity underneath and then they eventually inflate away.”
Would bitcoin held in Bitmart.com in the Cayman Islands be subject to an outlawing in the United States??
One more thing to consider. The impact of a truly global economic event.
“Politicians promised you benefits, but never funded them. That’s according to truthinaccounting.org, which noted that there’s $96.3 trillion owed in promised but unfunded Medicare and Social Security benefits — $55.1 trillion for Medicare and $41.2 trillion for Social Security.".
We are in the hole to the tune of 123 Trillion over the next 75 years. the Social Security program will be insolvent by 2035. But if the Great Reset happens then will it not go broke sooner?
Read this article along with The Great Reset Download.
Social Security Trustees’ annual report (pdf)
On December 31, 1974, with Executive Order 11825, President Gerald Ford repealed the Executive Order that Roosevelt used to call in gold in 1933. This was necessary because on the same day Congress restored Americans' right to own gold.