Reminder: RFK Jr. has pitched bailing out Bitcoin billionaires with our taxpayer money so they can ditch the crypto Ponzi scheme. 

"The worst proposal I've ever seen in my life in the financial area, almost as bad as stealing the 21 trillion dollars [done by the DOD] was proposed by Kennedy when he proposed, essentially, that the Bitcoin billionaires should be able to sell to the government, [and the] government should do a mandated buying program. And, in fact, when they sold that Bitcoin to government, they should be allowed to stay secret." 

Investment banker, former HUD official, and founder of the Solari Report (@solari_the) Catherine Austin Fitts describes on a recent episode of the @ChildrensHD
series Financial Rebellion how Robert F. Kennedy Jr. (@RobertKennedyJr) has pitched the idea of forcing the federal government to buy Bitcoin. While the policy may sound fine, Fitts notes that, in reality, it would amount to bailing out Bitcoin billionaires so they can implode the Bitcoin Ponzi scheme. 

For reference, a Ponzi scheme is a type of investment scam where returns are paid to earlier investors using the investments of more recent investors. The scheme leads investors to believe that profits are coming from legitimate business activities, when, in reality, the money is being cycled from one investor to another.) 

Fitts notes that "it gets even better. They [those who sell their Bitcoin to the federal government] should be free of taxes if they reinvest in real estate. So what you're talking about [is] one of the worst [examples of] 'steal from the poor and give to the rich using government [funds]' that I've ever seen." 

Fitts goes on to say: 

"It's very classic in American government that a group of people get together, give huge donations to politicians, and then the politicians take the taxpayers' money and taxpayers' borrowing capacity and mandate purchases of that industry's product, whether it's oil or whether it's agriculture.

"[In this case,] it's digital assets made up out of thin air. So it's an old game; it's a kickback scheme and it's pretty ugly. And, essentially, my biggest concern about the scheme is you never want to be the last guy in a Ponzi scheme. But the only player big enough to take the Bitcoin billionaires out at a high price would be such a scheme. And what it means is the government would be buying something and be the last player in the Ponzi scheme. [How] they would do it depends on the specific proposal, but they would do it in a way that says, okay, rather than provide good municipal services like fire hydrants where the water works when the fire comes or rather than lowering taxes, they proceed to basically put money in an asset that has no fundamental real purpose or collateral, and all they do is take the billionaires out of their Ponzi scheme.

"It's arguably the worst financial idea I've ever seen. Now, the thing that inspired the Solari team to do this piece and make this presentation was the state legislators also started to get lobbying for having the states buy bitcoin. Now the states are on a balanced budget, and that means they're going to have to take money out of something critical to basically take the Bitcoin billionaires out of their Ponzi scheme. Or raise taxes. And I can't imagine anything more devastating to the tax base than to do this.

"Now, my position is citizens should be free. If citizens want to speculate, they should be free to do so. But nobody should tax them and force their money and mandate their money into a speculative market. It's absurd...Eespecially when we don't have the kind of basic municipal infrastructure that we need."