Trump – Tomorrow Will Be One Of The Most Important Days In History, Sleepers Exposed – Ep. 2925

• Lately, I’ve been pondering whether we are witnessing a rhyming of history.
• For those who have had the chance to dig into our monetary history, you may have encountered a little-known policy called Executive Order 6102. It was a momentous attack on the sovereign individual and the free market. An event that corralled U.S. citizens away from gold, into the U.S. dollar and assets from which the U.S. government benefits.
• WHAT WAS EXECUTIVE ORDER 6102?
• During the Great Depression, President Franklin D. Roosevelt issued Executive Order 6102 on April 5, 1933, forbidding the hoarding of gold coin, gold bullion and gold certificates within the continental United States.
• At that time, the Federal Reserve Act of 1913 required any newly issued dollar bills to be 40% backed by gold. Executive Order 6102 freed the Fed from this restriction as it could coercively obtain more gold than it otherwise would have been able to by restricting the usage of gold and purchasing it back at an exchange rate defined by the government.
• Moreover, pushing people out of gold and into U.S. dollars helped strengthen the dollar during a period of monetary expansion and central bank intervention.
• This Executive Order was in effect until December 31, 1974, when congress once again legalized private ownership of gold coins, bars and certificates.
• In the eye-opening book, “The Mr. X Interviews: Volume 1,” Luke Gromen . Groman cites a leaked document from the U.S. State Department dated December 10, 1974. Here is an excerpt from that document:

“The major impact of private U.S. ownership, according to the dealers’ expectations, will be the formation of a sizable gold futures market. Each of the dealers expressed the belief that the futures market would be of significant proportion and physical trading would be minuscule by comparison. Also expressed was the expectation that large-volume futures dealing would create a highly volatile market. In turn, the volatile price movements would diminish the initial demand for physical holding and most likely negate long-term hoarding by U.S. citizens.”

• Essentially, the government knew that by promoting the gold futures market, gold would experience a significant increase in price volatility, diminishing its desirability and reducing long-term hoarding. More importantly, this document was dated 21 days before they reinstated the ability for individuals to own gold again.
• WHAT DOES THIS MEAN?
• If people are disincentivized to store their hard-earned savings in a stable vehicle such as gold, they must look elsewhere. With equities and corporate bonds exposing the investor to greater risk and volatility, people have two options: government bonds or U.S. dollars, both benefiting the government.
• The government has shown that it no longer needs to overtly issue an order such as 6102 to ban the holding of gold. It just needs to reduce gold’s desirability to achieve the same effect.
• WHAT DOES THIS HAVE TO DO WITH THE AFOREMENTIONED QUOTE?
• In October 2021, the Securities and Exchange Commission (SEC) approved the first Bitcoin futures Exchange Traded Fund (ETF). For the less financially inclined, an ETF is a regulated investment vehicle that simplifies the purchasing of its underlying assets. For instance, if you purchase the SPY ETF, you can own exposure to the hugely popular S&P 500, without purchasing 500 individual stocks.
• On its own, the futures market is no cause for alarm, but when the SEC prevents corporations and individuals from purchasing BTC through regulated means, only allowing futures ETFs, we have an issue.
• Companies in the Bitcoin industry have been applying for a “spot Bitcoin ETF” for many years, but to no avail. If this spot ETF were to get accepted, you could invest $100 into the ETF, which would then purchase $100 of bitcoin held by the fund, giving you direct exposure to bitcoin. This would provide pension funds, corporations, asset managers, etc., easier access to bitcoin. But this is not yet available in the U.S.; only a futures ETF is.
• If not already evident from the gold futures explanation above, this may pose a threat to bitcoin.
• When someone purchases a bitcoin futures ETF, they do not own bitcoin. Instead, they own exposure to an ETF which holds bitcoin futures contracts. In short, this futures ETF purchases contracts for the delivery of bitcoin at a future date. As that date approaches, it rolls the futures contract, selling the old contract and purchasing a new contract further out.

Source: bitcoinmagazine.com