About This Placeholder Post
Gail Combs can’t get into the WordPiss editor – it’s some kind of browser/WordPiss compatibility problem. Doesn’t matter – we shall overcome. I am able to get past the problem, thankfully. Thus, this PLACE HOLDER UNDER ARREST post, which is a tweaked copy of a post I made on 20240403, which included the notorious PLACE HOLDER UNDER ARREST-ORAMA image and Word Of The Week.
So here we go. Start thinking about Trump’s inauguration.
Who here is going? Any plans being made? Time to start thinking about it!
So now we return to this lightly updated “vintage” post. Enjoy!
W
Joe Biden didn’t win, and neither did Hillary Clinton or Kamala Harris. This is our Real President:
AND our beautiful REALFLOTUS.
This Stormwatch Monday Open Thread remains open – VERY OPEN – a place for everybody to post whatever they feel they would like to tell the White Hats, and the rest of the MAGA/KAG/KMAG world (with KMAG being a bit of both).
And yes, it’s Monday…Wednesday! WOOHOO!
And we WILL get through it!!!
Swingingly!
Happily!
Laughingly!
Just like Monday!
Dedication
WHEATIE – OUR WARRIOR ANGEL
by Duchess01
Please forgive us, Wheatie, we did not know
That you had left us with armor in tow
We had no idea with what you dealt
We did not know the pain you felt
And now we can only imagine
With you what really did happen
Cause rarely did you complain
And/or share your personal pain
Of one thing we are most certain
You are flying high behind the curtain
Watching over us above the crowds
Our Warrior Angel above the clouds
Thank You, Wheatie, for caring for us
While you were here among the fuss
We miss you dear you have no idea
Since time began in the pangaea
With you there was no time
In your wisdom you would chime
To clarify and magnify
The what where how and why
We did not question when you left
We were not slightly bereft
But over time we wondered why
You did not at least stop by
Now we know where you have gone
With the break of this new dawn
We could be angry but are not
Tho with an arrow we’ve been shot
Rest peacefully Warrior Angel dear
Send us a sign that you are near
A butterfly a flower a kiss of rain
From your love do not refrain
God sends Angels to watch over us
And now we have an Angel Plus
A Warrior Angel of Magnificence
From today and forward hence
LINK: https://www.theqtree.com/2019/05/23/the-poetry-tree/comment-page-2/#comment-917655
The Rules
TL;DR –
Wheatie’s Rules:
- No food fights.
- No running with scissors.
- If you bring snacks, bring enough for everyone.
Boilerplate, more or less, but worth reading again and again, if only for the minor changes, and to stay out of moderation.
MINOR CHANGE NUMBER 1 – RETRACTED!
No reasons for you not to joke about Team Harpies On Pedestals, now that the nation has voted overwhelmingly for FREE SPEECH. Just remember that I really avoid deleting posts, so if you say something stupid, and you regret it later, you will need to add a clarification comment, as opposed to deleting it.
OK? Them’s the rules.
OTHER THAN THAT…….
The bottom line is Free Speech. Theories and ideas you don’t agree with must be WELCOME here, and you must be part of that welcoming. But you do NOT need to be part of any agreement.
Bottom line – respect other people’s FIRST AMENDMENT RIGHTS.
Our only additional requirement is that you do so NICELY. Or at least try to make some effort in that direction.
SO….. [ENGAGE BOILERPLATE…..]
We must endeavor to persevere to love our frenemies – even here.
Those who cannot deal with this easy requirement will be forced to jump the hoops of moderation, so that specific comments impugning other posters and violating the minimal rules can be sorted out and tossed in the trash.
In Wheatie’s words, “We’re on the same side here so let’s not engage in friendly fire.”
That includes the life skill of just ignoring certain other posters.
We do have a site – The U Tree – where civility is not a requirement. Interestingly, people don’t really go there much. Nevertheless, if you find yourself in an “argument” that can’t really stay civil, please feel free to “take it to the U Tree”. The U Tree is also a good place to report any technical difficulties, if you’re unable to report them here. Please post your comment there on one of Wolf’s posts, or in reply to one of Wolf’s comments, to make sure he sees it (though it may take a few hours).
We also have a backup site, called The Q Tree as well, which is really The Q Tree 579486807. You might call it “Second Tree”. The URL for that site is https://theqtree579486807.wordpress.com/. If this site (theqtree.com) ever goes down, please reassemble at the Second Tree.
If the Second Tree goes down, please go to The U Tree, or to our Gab Group, which is located at https://gab.com/groups/4178.
We also have some “old rules” and important guidelines, outlined here, in a very early post, on our first New Year’s Day, in 2019. The main point is not to make violent threats against people, which then have to be taken seriously by law enforcement, and which can be used as a PRETEXT by enemies of this site.
In the words of Wheatie, “Let’s not give the odious Internet Censors a reason to shut down this precious haven that Wolf has created for us.”
A Moment of Prayer
Our policy on extreme religious freedom on this site is discussed HERE. Please feel free to pray and praise God anytime and anywhere.
Thus, please pray for our real President, the one who actually won the 2016, 2020, and 2024 elections.
You may also pray for our nation, our world, and even our enemies.
Musical Interlude
In honor of dear Wheatie, we now present some music to soothe, inspire, invigorate, or relax.
Here are three “placeholder” videos, selected from old Wheatie posts.
1.
From Dear MAGA: 20190222 Open Topic
2.
From Dear MAGA: 20190223 Open Topic
3.
From Dear MAGA: 20190427 Open Topic
Ah, yes! I remember those days!
Call To Battle
Our beloved country is under Occupation by hostile forces.
Daily outrage and epic phuckery abound.
(This is an image of the tweet, which no longer shows here.)
We can give in to despair…or we can be defiant and fight back in any way that we can.
Researchers Prove Link Between Deaths and COVID-19 Vaccines https://t.co/H8uC4wxN16— Gelsy Snyder (@GelsySnyder) January 10, 2023
Joe Biden didn’t win.
And we will keep saying Joe Biden didn’t win until we get His Fraudulency out of our White House.
Wolfie’s Wheatie’s Word of the Day Year Week:
placeholderama
noun
- the second year of placeholder posts on The Q Tree
- Wolf’s collection of dummy posts that he alters if he gets the chance
- justice for more than one swamp rat in Washington
Used in a Sentence:
“OMG, they’re not only placing Eric Holder under arrest – they’re arresting all his cronies – it’s a veritable placeholderama!”
Used in a Picture of Women Prison Guards Watching Eric Holder in Solitary in DC Gitmo:
ENJOY THE SHOW
Have another great week!
W
Bwhawhawha . . . HigherEd Dive has to be crying about this!
WWE leader now head of Dept of Education!
Oh the pain!
Trump names Linda McMahon for education secretary
The choice of the WWE co-founder and former SBA administrator is another out-of-the-box Cabinet selection for the incoming president.
https://www.highereddive.com/news/trump-nominates-linda-mcmahon-education-secretary/733423/?
President-elect Donald Trump has named Linda McMahon, who served as administrator of the Small Business Association for two years in his first administration, as his nominee for U.S. secretary of education.
In an announcement posted to Trump’s social media platform Truth Social at close to 9 p.m. EST Tuesday, Trump said, “Linda will use her decades of Leadership experience, and deep understanding of both Education and Business, to empower the next Generation of American Students and Workers, and make America Number One in Education in the World.”
Trump’s post also referred to his campaign promise to eliminate the U.S. Department of Education. “We will send Education BACK TO THE STATES, and Linda will spearhead that effort,” his post said.
Who is Linda McMahon?
McMahon, a former president and CEO of World Wrestling Entertainment, a company that develops and produces scripted wrestling events, currently serves as co-chair of the Trump-Vance transition team.
She has served on the Connecticut State Board of Education and as a trustee at Sacred Heart University, a private Catholic institution in Fairfield, Connecticut. She is currently the treasurer on the university’s Board of Trustees, according to Sacred Heart’s website.
McMahon is also board chair at America First Policy Institute, a nonprofit, nonpartisan research organization that supports free enterprise and nationalism. Trump praised her advocacy at AFPI for state-level universal school choice policies: “As Secretary of Education, Linda will fight tirelessly to expand ‘Choice’ to every State in America, and empower parents to make the best Education decisions for their families.”
According to EdChoice, a pro-school choice nonprofit organization, at least one form of private school choice is offered in 33 states, the District of Columbia and Puerto Rico. EdChoice said earlier this year that enrollment in private school choice programs exceeded 1 million students for the first time.
In 2012, McMahon won the Connecticut Republican primary for U.S. Senate but lost to current Democratic Sen. Chris Murphy.
If confirmed by the U.S. Senate, she would succeed Miguel Cardona as the 13th U.S. education secretary since the department’s founding in 1979.
This is awesome. This woman will be utterly immune to the toxic schemes and nasty psy-ops of the communist teachers unions. The commies are going to be pleading to bring back Betsy DeVos! 😂
Wait until she breaks a chair over the head of a union rep!
This is SO brilliant!
We must be having WordPiss fun. 😥
We’ve been through much worse! But I do suspect we’re in for more. The Demmunists are not about to give up.
Thank you for the placeholderama post. It’s good to see the raccoon, too.
Yes! Old Wheatie is the best Wheatie!!!
I seem to be having no difficulty adding to Saturday’s post.
Gail, on the other hand, gets along with WordPiss about as well as Klingons get along with tribbles.
😂
Worf to Picard “I must protest, I am Not a Merry Man!”
You use Firefox – right?
Yes…rather customized (look up “arkenfox” sometime; it’s based off his work), and with ublock running.
The problem seems to be with Brave, which may then be a problem with the whole Chromium world (Google).
We’ll see what happens. It should be fixed in Brave Nightly soon.
…..which is one reason to take advantage of the ability to have multiple browsers in Linux.
Or have multiple linuxes in Qubes.
Charlie Kirk:
https://twitter.com/charliekirk11/status/1858962194056311245
It’s nice to hear multiple leaders boldly state this. Johnson also said that everyone should be treated with respect. I don’t know what the solution is for the “trans” member of Congress, but it isn’t to have him in women’s facilities. For him to go in men’s facilities dressed as a woman would probably be humiliating for him, but he chose this path.
Cenk Uygur:
Donald Trump Jr. @DonaldJTrumpJr ·3h
Replying to @cenkuygur and @elonmusk
Cenk wants to get on the winning team.
I think Alex Soros just inadvertently red-pilled him with WWIII.
Winnamins in Cen(k)amin!
Some folks are starting to rev up for the party —
.
https://www.zerohedge.com/political/guess-whats-coming-dc
That is a great article, and fun to think about! It’s a great time to be alive. 😄
More at the link…
I love the term “regulatasaurus.” Someone should make a meme. 🦖
OMG, this is one of the greatest articles ever! And it REFERENCES a similar article from 2 June 2022 that basically tears apart the “authorities” on the whole COVID sham. Utterly glorious.
https://boriquagato.substack.com/p/why-public-health-experts-never-want
Worth re-reading, IMO.
It’s a keeper!
It also makes me appreciate this site and all those who post here.
It gets to the CORE of what is wrong with “peer review”.
bluebird of bitterness says: November 19, 2024 at 3:53 pm
My general rule is never to take health advice from people who think the planet is overpopulated.
“They’re going to transfer and move those permanent staters they cannot fire. Have fun in Topeka or Guam. They’re lovely this time of year.”
____________
No way.
Antarctica.
It’s lovely all year round.
Watch how fast they resign.
It’s like all the good guys from Atlas Shrugged and The Fountainhead showing up at Globo-Homo headquarters, walking right past the receptionist, and throwing the gay fascist criminati
outthrough the windows 😂LOL!
Popcorn futures way, way up!!!
Shrink says his job has gotten a whole lot easier since Trump won.
https://twitter.com/iamNickPeterson/status/1859055809121939642
Texas offers Starr County ranch to Trump for mass deportation plans
61 days, 10 hours, 17 minutes until the Once and Future President, the rightful President of the United States, is restored to office.
Not that I’m counting, mind you.
61 days before the Inauguration of the Century!
A video of the new commerce secretary expressing views that have been out of the mainstream for decades.
George:
OMG, this is fantastic.
👍😁
Wow, that’s some speech.
Our bench gets deeper.
He’s young enough to be president one day 😁
Sarah is reminiscing….
https://accordingtohoyt.com/2024/11/19/its-all-been-a-pack-of-lies/
Another excellent article, this one about the “health” profession.
NFL says it has ‘no issue’ with ‘Trump dance’ celebrations
I think the league sees the handwriting on the wall.
How is “Make America Great Again” a ‘political opinion’?
It’s our country, you dumbasses.
If you DON’T want America to be great again, how is THAT not a ‘political opinion’?
Shouldn’t the NFL fine itself, for expressing their own political opinion against making America great again?
I have always wondered that. Apparently no Dem wants the country to be great again.
‘Disaster Waiting to Happen’: FDA Approves Phase 1 Trial of Gates-funded Self-amplifying Bird Flu Vaccine
These people. They make Frankenstein look careful and cautious.
They won’t stop until they are forcefully put down.
Hard.
Trump says media is ‘vital’ to making America ‘great again,’ vows to work with ‘free, fair and open’ press
This is a brilliant departure from cries of “fake news.” If they want access, they have to play nice. And they will want access, both to keep up with other news outlets and to save their own ratings, which are tanking.
Apropos of nothing much, I’m going to see the BEAT tour of King Crimson ’80’s tunes on Wednesday night. If you think this may be a repeat, you are not mistaken — I saw them on the first night of this tour back on September 12. At this point, the tour is winding down (the individuals involved have other commitments).
I followed the first few concerts, and it seemed like it took them a while to settle in, so it should be subtly different tonight. I’m looking forward to it.
Climate Change Activists Who Threw Red Powder on Constitution Display Sentenced to Prison Time
18 months for one and two years for the other.
““You still think that was connected to the climate change problem, and I can’t agree with that,” she said.”
______________
There is no ‘climate change’ problem.
There is only the problem of Libtards with zero education who think it is a problem that the climate changes.
Wait until these numb-nuts find out there are four seasons in every year.
I was watching the weekly DCA youtoob show that includes a couple of crypto analysts I watch regularly, and they mentioned two things that might be of interest here, some info on the Bitcoin Strategic Reserve proposed by Sen. Cynthia Lummis (R-WY), and the second is about how AI is going to help revolutionize peer review and eliminate all the bogus scientism in medicine, science and research.
The first is the Bitcoin Strategic Reserve. Cued up to the segment, it’s only a minute or two:
.
Transcript: “I’ve spent a long time digging into all, all of the 10 sections of this act, and it’s quite extraordinary. I don’t know if you guys are aware, like section 9 says the Federal Reserve System gold certificates have to be turned in 180 days after enactment of the ACT.
Federal Reserve Banks will tender all outstanding gold certificates in the custody of the Secretary this is the Treasury Secretary right, this is taking all of this away from the Federal Reserve’s power.
No later than 90 days after the certificate they will convert the gold into Bitcoin. This is in the ACT, Section 9. Yep, they’re going to pay for the fund from the Federal Reserve Act Surplus which is $6.8 trillion and lower it to $2.4 trillion, that’s $4 trillion coming out of that fund to pay for the Bitcoin.
Guys this is a ridiculously insane Act, you got to read it. Anyway, um, I’ll put, I’ll put the post up in, I’ll put the post up, like this is the thing, I don’t, I just, I’m, I’m, Senator Lummis came out last week and said you know, 100 days we’ll pass this, but you read it and you’re like, this is, this will be a very very big thing for the U.S. to pass.
It’s like literally we’re going to sell our gold holdings to buy Bitcoin, and Bitcoin is going to be Reserve, like the reserve asset of the US government now. It reads, Mando, it reads almost like the first step of just banning the Federal Reserve. It’s removing the Federal Reserve’s resources and their power.
It’s an interesting play. I think, I think there’s more to this, it’s not just about a reserve for the U.S., it’s about diminishing the power of the Federal Reserve, which you all agree is probably a good idea.” — end
.
Here is the bill, it’s surprisingly short, with some pretty big implications. This is the whole thing:
https://www.congress.gov/bill/118th-congress/senate-bill/4912/text
S. 4912
To establish a Strategic Bitcoin Reserve and other programs to ensure the transparent management of Bitcoin holdings of the Federal Government, to offset costs utilizing certain resources of the Federal Reserve System, and for other purposes.
IN THE SENATE OF THE UNITED STATES
July 31, 2024
Ms. Lummis introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To establish a Strategic Bitcoin Reserve and other programs to ensure the transparent management of Bitcoin holdings of the Federal Government, to offset costs utilizing certain resources of the Federal Reserve System, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Short title.
This Act may be cited as the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act of 2024” or the “BITCOIN Act of 2024”.
SEC. 2. Findings.
Congress finds the following:
(1) The global financial landscape is rapidly evolving, with digital assets playing an increasingly significant role in the world economy.
(2) Bitcoin has demonstrated resilience, widespread adoption, and served as a medium of exchange and a store of value for more than a decade.
(3) Just as gold reserves have historically served as a cornerstone of national financial security, Bitcoin represents a digital-age asset capable of enhancing the financial leadership and security of the United States in the 21st century global economy.
(4) The acquisition and long-term storage of substantial quantities of Bitcoin by the United States can strengthen the financial condition of the United States, providing a hedge against economic uncertainty and monetary instability.
(5) Bitcoin, as a decentralized and finitely scarce digital asset, offers unique properties that complement existing national reserves, strengthening the position of the United States dollar in the global financial system.
(6) Diversification of the national assets of the United States to include Bitcoin can enhance financial resilience and position the United States at the forefront of global financial innovation.
SEC. 3. Definitions.
In this Act:
(1) AIRDROP.—The term “airdrop” means a gratuitous distribution of digital assets to holders of Bitcoin in a broad, equitable, and non-discretionary manner.
(2) BITCOIN PURCHASE PROGRAM.—The term “Bitcoin Purchase Program” means the program established under section 5(a).
(3) COLD STORAGE.—The term “cold storage” means a method of storing private keys required to transact in Bitcoin, with a nexus to a secure physical location, protected from unauthorized access and isolated from any network connections.
(4) FORK.—The term “fork” means a change to the consensus mechanism of a distributed ledger that creates a separate ledger, resulting in a new digital asset that shares a common transaction history with Bitcoin up to the point of the change.
(5) SECRETARY.—The term “Secretary” means the Secretary of the Treasury.
(6) STRATEGIC BITCOIN RESERVE.—The term “Strategic Bitcoin Reserve” means the decentralized network of secure Bitcoin storage facilities established pursuant to section 4(a).
SEC. 4. Establishment of Strategic Bitcoin Reserve.
(a) Establishment.—The Secretary shall establish a decentralized network of secure Bitcoin storage facilities distributed across the United States, collectively to be known as the Strategic Bitcoin Reserve for the cold storage of Government Bitcoin holdings.
(b) Purpose.—The Strategic Bitcoin Reserve shall be used for the generation, safekeeping, and management of Bitcoin private keys associated with Government Bitcoin holdings.
(c) Oversight.—The Secretary shall be responsible for the ongoing monitoring and auditing of the holdings of the Strategic Bitcoin Reserve.
(d) Decentralization.—
(1) IN GENERAL.—The Secretary shall ensure that the facilities of the Strategic Bitcoin Reserve are geographically dispersed throughout the United States, to minimize the risk of simultaneous compromise and to enhance the resilience of the Strategic Bitcoin Reserve.
(2) LOCATION SELECTION.—The Secretary shall select the locations for the facilities described in paragraph (1) based on a comprehensive risk assessment, prioritizing geographic diversity, security, and accessibility.
(e) Security measures.—
(1) IN GENERAL.—The Secretary shall implement state-of-the-art physical and digital security measures to protect the Strategic Bitcoin Reserve.
(2) CONSULTATION.—The Secretary shall consult and collaborate with the Secretary of Defense, the Secretary of Homeland Security, and industry experts to ensure the highest level of physical and digital security for the Strategic Bitcoin Reserve.
(f) Retention of forks and airdrops.—
(1) IN GENERAL.—The Secretary shall ensure that, with respect to Bitcoins controlled by the Strategic Bitcoin Reserve, all digital assets resulting from forks of the Bitcoin distributed ledger and digital assets distributed via airdrops to Bitcoin addresses are accounted for and reasonably stored in the Strategic Bitcoin Reserve.
(2) PROHIBITION ON IMMEDIATE SALE.—No digital asset stored in the Strategic Bitcoin Reserve that is the result of a fork or airdrop may be sold or otherwise disposed of during the 5-year period beginning on the date of the fork or airdrop, unless explicitly authorized by law.
SEC. 5. Bitcoin Purchase Program.
(a) Establishment.—
(1) IN GENERAL.—The Secretary shall establish a Bitcoin Purchase Program which shall—
(A) purchase not more than 200,000 Bitcoins per year over a 5-year period, for a total acquisition of 1,000,000 Bitcoins;
(B) conduct purchases in a transparent and strategic manner to minimize market disruption; and
(C) hold Bitcoin acquired under this section in trust for the United States, as provided in this section.
(2) FLEXIBILITY RELATING TO PURCHASES.—The Secretary shall, by rule, establish a procedure to adjust the purchase schedule set forth under paragraph (1), if necessary, based on prevailing market conditions.
(3) TRANSFER OFFSET.—Any Bitcoin transferred to the Strategic Bitcoin Reserve under section 7 may offset the purchase requirements under paragraph (1).
(b) Deposit.—All Bitcoins purchased under the Bitcoin Purchase Program shall be placed in the Strategic Bitcoin Reserve.
(c) Minimum Holding Period.—
(1) IN GENERAL.—To ensure the long-term stability and security of the Strategic Bitcoin Reserve, the Secretary shall hold all Bitcoin acquired through the Bitcoin Purchase Program for not less than 20 years.
(2) RETENTION OF BITCOIN.—During the minimum holding period under paragraph (1), no Bitcoin held in the Strategic Bitcoin Reserve may be sold, swapped, auctioned, encumbered, or otherwise disposed of for any purpose other than retiring outstanding Federal debt instruments.
(3) RECOMMENDATIONS AFTER HOLDING PERIOD.—
(A) IN GENERAL.—On the date that is 1 year before the end of the minimum holding period under paragraph (1), the Secretary shall submit to Congress recommendations on whether to continue to voluntarily hold or to allow for the gradual and controlled release of a portion of the holdings of the Strategic Bitcoin Reserve.
(B) RECOMMENDATION.—Upon the expiration of the minimum holding period, the Secretary shall not recommend selling more than 10 percent of the assets of the Strategic Bitcoin Reserve during any 2-year period.
(d) Public reports.—Not later than 1 year after the date of enactment of this Act, and annually thereafter for a period of 20 years, the Secretary shall publish an annual public report on the status of the Bitcoin Purchase Program.
SEC. 6. Proof of Reserve System.
To ensure transparency and accountability in the management of the Strategic Bitcoin Reserve, the Secretary shall establish a quarterly Proof of Reserve system of public cryptographic attestation under which—
(1) the Secretary shall—
(A) publish quarterly reports on the Strategic Bitcoin Reserve that include detailed information on the total holdings, transactions, and demonstrated control of private keys relating to the Strategic Bitcoin Reserve, including a public cryptographic attestation;
(B) make the quarterly reports available to the public on an official website of the Department of Treasury; and
(C) select an independent, third-party auditor with expertise in cryptographic attestations to verify the accuracy and integrity of the quarterly reports; and
(2) the Comptroller General of the United States shall, to ensure compliance with this Act, conduct regular oversight of—
(A) the Strategic Bitcoin Reserve;
(B) the quarterly reports under paragraph (1)(A); and
(C) the audits under paragraph (1)(C).
SEC. 7. Consolidation of Government Bitcoin Holdings.
Beginning on the date of enactment of this Act, any Bitcoin under the control of any Federal agency, including the United States Marshal Service, shall—
(1) not be sold, swapped, auctioned, or otherwise encumbered; and
(2) upon the acquisition of legal title to such Bitcoin (including after a final, unappealable judgment is entered in a criminal or civil forfeiture action in favor of the Federal agency), be transferred by the head of such Federal agency to the Strategic Bitcoin Reserve.
SEC. 8. Voluntary State Participation and Segregated Accounts.
(a) Voluntary State participation.—The Secretary shall establish a program that allows a State to voluntarily participate in storing the Bitcoin holdings of the State in the Strategic Bitcoin Reserve in a segregated account.
(b) Participation requirements.—A State choosing to participate in the program established under subsection (a) shall sign a contractual agreement outlining the terms and conditions of participation, which shall include—
(1) the responsibilities of both the State and the Strategic Bitcoin Reserve in managing and securing the Bitcoin holdings of the State in the segregated account of the State;
(2) a requirement that the State, in coordination with the Secretary, develop and implement appropriate security protocols and access controls to ensure the integrity and confidentiality of the segregated account of the State; and
(3) retention of title, and all attendant legal interests, by the State in the Bitcoin held in the segregated account, including title to any digital asset that is the result of a fork or airdrop relating to such Bitcoin.
(c) Withdraw or transfer.—Each State participating in the program established under subsection (a) shall have the right to withdraw or transfer the contents of the segregated account of the State within the Strategic Bitcoin Reserve, subject to the terms and conditions in the signed contractual agreement under subsection (b) and any applicable Federal regulations.
SEC. 9. Offsetting the cost of the strategic Bitcoin reserve.
(a) Discretionary surplus funds of federal reserve banks.—Section 7(a)(3)(A) of the Federal Reserve Act (12 U.S.C. 289(a)(3)(A)) is amended by striking “$6,825,000,000” and inserting “$2,400,000,000”.
(b) Use of remittances to treasury.—
(1) IN GENERAL.—Notwithstanding the second subsection (b) of section 7 of the Federal Reserve Act (12 U.S.C. 290), for fiscal years 2025 through 2029, if the Federal reserve banks remit net earnings to the general fund of the Treasury during that period, the first $6,000,000,000 of these remittances (before repayment of any deferred asset) in a fiscal year shall be utilized by the Secretary for the implementation of the Bitcoin Purchase Program, pursuant to the purposes set forth under section 5.
(2) EXCEPTION.—Paragraph (1) shall not apply if the Federal Reserve banks do not remit net earnings in any given fiscal year during the period of fiscal years 2025 through 2029.
(c) Federal reserve system gold certificates.—Not later than 180 days after the date of enactment of this Act, the Federal reserve banks shall tender all outstanding gold certificates in their custody to the Secretary.
Not later than 90 days after the tender of the last such certificate, the Secretary shall issue new gold certificates to the Federal reserve banks that reflect the fair market value price of the gold held against such certificates by the Treasury, as of the date specified by the Secretary on each new gold certificate. Upon issue by the Secretary, each Federal reserve bank that receives a new gold certificate shall remit the difference in cash value between the old and new gold certificates to the Secretary for deposit in the general fund within 90 days.
(d) Conforming amendment.—Section 5117(b) of title 31, United States Code, is amended by striking “(for the purpose of issuing those certificates, of 42 and two-ninths dollars a fine troy ounce)”.
SEC. 10. Protection of Private Property Rights.
(a) Rules of construction.—Nothing in this Act shall be construed to—
(1) authorize the Federal Government to seize, confiscate, or otherwise impair any property right in the lawfully acquired Bitcoin holdings of any person; or
(2) infringe upon the rights of individuals, businesses, or organizations to purchase, hold, transfer, or dispose of Bitcoin in accordance with the law.
(b) Affirmation of rights.—This Act affirms and protects the rights of persons to maintain full lawful control over the Bitcoin and other digital assets of those individuals, recognizing that the ability to maintain self-custody of private keys is fundamental to the principles of financial sovereignty, privacy, and personal liberty in the digital age.