特朗普团队的加密调情比内阁选秀更危险

通过库存比特币（最受欢迎的加密货币）在像诺克斯堡这样的地方的穹顶内，美国政府正在向世界发送信息

The hand-wringing over some of President Trump’s Cabinet picks would be funny if it weren’t for what the opposition is missing: Team Trump flirting with something much more dangerous in making crypto part of the nation’s so-called strategic reserve.

如果不是因为反对派的失踪，那么对特朗普总统的一些内阁选秀权的手工挥舞会很有趣：特朗普团队在使加密货币成为该国所谓的战略储备中的一部分时更加危险。

Most Americans don’t know what this means but they should.

大多数美国人不知道这意味着什么，但是他们应该。

By stockpiling bitcoin — the most popular crypto — inside the vaults of places like Fort Knox, the US government is sending a message to the world: An alternative asset is as safe as the US dollar.

通过库存比特币（最受欢迎的加密货币）在诺克斯堡（Fort Knox）等地方的拱顶内，美国政府正在向世界发送信息：替代资产与美元一样安全。

That’s the word I’m getting from some smart market types, who I might add, believe in crypto, want to see advances in its blockchain technology to make transactions cheaper and more efficient but also see how Trump and his people are playing with fire on this one.

这就是我从一些智能市场类型中获得的词，我可能会补充，相信加密货币，希望看到其区块链技术的进步，以使交易更便宜，更高效，同时也看到特朗普和他的人民如何在开火上发挥作用这个。

We are literally undermining global allegiance to King Dollar; when the US government gives its stamp of approval for a digital coin, it’s signaling to the world to think twice about investing in US-dollar denominated assets like our debt because crypto is the new thing.

我们实际上正在破坏全球对美元的忠诚；当美国政府给予数字硬币的认可邮票时，它向全世界发出了信号，即三思而后行地投资于我们的债务，因为加密货币是新事物。

It’s a terrible message.

这是一个可怕的信息。

For starters, we still live in a country addicted to debt that we need foreigners to buy and they are willing to do so for many reasons, including the US is a great safe haven with a stable “reserve” currency.

首先，我们仍然生活在一个沉迷于我们需要外国人购买的债务的国家中，出于多种原因，他们愿意这样做，包括美国是一个拥有稳定的“储备”货币的绝佳避风港。

As such we want the dollar to remain as the world’s reserve currency for the simple reason that we will be selling more debt even under Trump.

因此，我们希望美元作为全球储备货币，原因很简单，即使在特朗普的领导下我们也会出售更多债务。

The Elon Musk-run DOGE won’t solve the spending problem that is producing a $2 trillion deficit even in a growing economy overnight.

埃隆·马斯克（Elon Musk）经营的门多格（Doge）也无法解决支出问题，即使在不断增长的经济体中，也会造成2万亿美元的赤字。

And it may never.

而且可能永远不会。

It’s unclear if the president is serious about tackling entitlement spending, stuff like Social Security, Medicare and the like that are on auto-pilot and comprise the largest part of the nation’s largesse that have lumped on future generations with $36 trillion in outstanding borrowing that will, at least for the immediate future, keep growing.

目前尚不清楚总统是否认真考虑应对应有的支出，诸如社会保障，医疗保险之类的东西都在自动驾驶中，并组成了全国最大的大部分地区，这些部分已经在未来后代以36万亿美元的杰出借款方式集中在后代，至少在不久的将来，请继续增长。

You also have to ask yourself why the Democrats — who love spending — aren’t all over this issue and instead are wasting time twisting Robert F. Kennedy Jr.’s words on the polio vaccine and grilling Tulsi Gabbard and Kash Patel for whatever.

您还必须问自己，为什么民主党人（喜欢支出）并不是整个问题，而是在浪费时间扭曲罗伯特·肯尼迪（Robert F. Kennedy Jr.

No inherent value

没有固有的值

There are valid reasons to push and prod and maybe vote against each of these candidates, but they aren’t existential threats to the country and it’s all important economy the way trying to equate crypto with the dollar will be if that’s what Trump does.

有正当的理由推销和推销，也许可以投票反对这些候选人，但他们不是对国家的生存威胁，这都是试图将加密货币等同于美元等同的重要经济。

Republicans should be concerned for different reasons.

共和党人应出于不同的原因而关注。

Why in God’s name ever risk debasing our currency before our new Treasury Secretary Scott Bessent gets his 3-3-3 plan going.

为什么以上帝的名义冒着在我们的新财政部长斯科特·贝森（Scott Bessent）之前将我们的货币贬低的风险。

It’s aimed at cutting the budget deficit to 3% of GDP (it’s now more than 6%), revving up economic growth to 3% (currently close to 2%) and increasing oil production by 3 million barrels per day.

它的目的是将预算赤字减少到GDP的3％（现在已超过6％），将经济增长升至3％（目前接近2％），并将石油产量增加300万桶。

It won’t happen overnight, which means we still need access to the borrowing markets that this idiotic crypto reserve talk could make exponentially more difficult.

它不会在一夜之间发生，这意味着我们仍然需要进入这个白痴加密储备的谈话可能会使指数变得更加困难的借贷市场。

I should point out that the country has always had some commodities in its strategic reserve.

我应该指出，该国在其战略储备中始终有一些商品。

Oil for obvious reasons, and gold, of course.

当然，出于明显的原因和黄金，石油。

The latter has been a traditional source of value for centuries, and at one point, the dollar’s value was implied through the price of gold, the so-called gold standard.

几个世纪以来，后者一直是传统的价值来源，在某一时刻，美元的价值是通过黄金价格（即所谓的黄金标准）暗示的。

Bitcoin is different; it has no inherent value, and at best it’s an alternative currency to the dollar.

比特币不同；它没有固有的价值，充其量是美元的替代货币。

The blockchain that transacts in bitcoin is a competitor to the banking system.

在比特币中进行交易的区块链是银行系统的竞争对手。

So in a sense both both bitcoin and the blockchain are in competition with the US financial system.

因此，从某种意义上说，比特币和区块链都与美国金融体系竞争。

A bitcoin reserve literally conveys credibility to a currency that is competing with the dollar for reserve currency status — international transactions are made in dollars which means people need to hold them in some form.

比特币储备几乎传达了与储备货币状况竞争的货币的信誉 - 国际交易是以美元进行的，这意味着人们需要以某种形式持有它们。

“It’s a stupid idea,” one top money manager, and crypto advocate, said about any talk of equating the dollar with bitcoin, which the reserve would begin to do.

一位顶级货币经理和加密货币倡导者说：“这是一个愚蠢的主意。”

This money manager is all for crypto and deregulating it.

这位货币经理全都用于加密货币并放松调节。

He believes it should be part of a balanced portfolio.

他认为这应该是平衡投资组合的一部分。

It should not be a dollar replacement, real or implied.

它不应是一美元替代品，是真实的或暗示的。

“We’re literally telling global investors it’s better to put your money in crypto than dollar-denominated assets like our debt,” he said.

他说：“我们实际上是在告诉全球投资者，最好将您的资金放在加密货币中比像我们的债务这样的美元计价资产。”

To be fair, Trump is not yet all in on a bitcoin reserve, which some in Congress want; people like GOP Sen. Cynthia Lummis of Wyoming, who proposed legislation that Trump had spoken favorably about.

公平地说，特朗普还没有在国会中想要的比特币储备金。怀俄明州共和党参议员辛西娅·卢米斯（Cynthia Lummis）这样的人提出了特朗普对此表示赞赏的立法。

Trump courted crypto honchos during the 2024 campaign and promised to dere

特朗普在2024年的竞选期间向加密货币求婚，并承诺将