The $700 Billion Reason Bitcoin Is Going to a New ATH | Bitcoin Simply

**Dante Coco** (0:00)
Yo, this week, Scott Besson just stood in front of cameras and told the world all the gold in Fort Knox is there, a trillion dollars worth. But when asked if he's ever seen it personally, ah, nah, somebody on my staff has seen it.

**Scott Besson** (0:11)
Have you visited Fort Knox?

**Scott Besson** (0:13)
I haven't, I haven't, people on my staff has.

**Dante Coco** (0:15)
And that begs the question, why haven't you seen it? Is it even there? And that's the $700 billion reason why Bitcoin will make all time highs. Oh, that and the largest asset manager in the world, Barry Fink just came out for one of his first interviews in a long time saying that he's bullish on the market. Today, I'm gonna break down why we will move to a Bitcoin standard and why the Gold Media Tour proves one thing, Bitcoin is the first asset that doesn't say, trust me, bro, and the world needs it. This is Don Tococo, Bitcoin Simply, let's go.

**Scott Besson** (0:49)
Yep, so these are the displays of our currency over the years, some of it, we used to have silver certificates, used to be backed by silver, sometimes gold. And then in the 70s, we just went to what was called fiat currency, where you didn't have to keep gold or silver in the vault. If any of these are still outstanding though, the silver or gold for them is at Fort Knox waiting for them to be claimed, if so needed.

**Scott Besson** (1:20)
Have you visited Fort Knox?

**Scott Besson** (1:21)
I haven't. I haven't. People on my staff has.
We're going to the Treasurer's Office. The Treasurer has been to Fort Knox. I am happy to say all gold is present and accounted for. The US has the largest pile of gold in the world, over a trillion dollars at current market value.

**Scott Besson** (1:38)
And we're getting more gold from Venezuela.

**Dante Coco** (1:41)
The US Treasury Secretary Scott Besson just walked through a history museum of failed experiments, failed currency experiments, experiments that all had one common denominator, trust me, and then when talking about their latest experiment, fiat currency on the dollar after the gold standard in 1971 was removed, we've just watched the US government go back to the same playbook that they have for years.
Take our word for it, it's all there. No independent audit, no chain, no proof, just a verbal confirmation. And this is why Bitcoin will make all time highs. James Lavish says it well in this tweet. If this were Bitcoin, there would be no pump. Anyone, anywhere can verify that the Bitcoin is there on chain in seconds. This announcement about gold isn't just a one-off. This is the entire foundation of fiat currency in general, or the mindset of fiat. The Fed tells you inflation is under control, and then they make up numbers. Trust me, bro, you just have to believe it. The crazy part is people don't realize that we were on a go back standard until 1971, and everyone seems to have forgotten. And since then, there's been no cap on how much can be printed. And it all originated from this press conference.

**SPEAKER_4** (2:47)
I have directed Secretary Connolly to suspend temporarily the convertibility of the dollar in the gold or other reserve assets, except in amounts and conditions determined to be in the interest of monetary stability and in the best interests of the United States. In full cooperation with the International Monetary Fund and those who trade with us, we will press for the necessary reforms to set up an urgently needed new international monetary system. Stability and equal treatment is in everybody's best interests. I am determined that the American dollar must never again be a hostage in the hands of international speculators.
I am taking one further step to protect the dollar, to improve our balance of payments, and to increase jobs for Americans. As a temporary measure, I am today imposing an additional tax of 10 percent on goods imported into the United States. This is a better solution for international trade than direct controls on the amount of imports. This import tax is a temporary action. It isn't directed against any other country. It's an action to make certain that American products will not be at a disadvantage because of unfair exchange rates.
When the unfair treatment is ended, the import tax will end as well.

**Dante Coco** (4:16)
Our biggest adversary in China has taken the opposite approach since 1971 We've moved into a fantasy world of fiat currency and they've moved harder and harder into the hard asset or real asset world. They've gone with the trust me but verify approach. They make physical things, physical things that we wear, that we touch, that we see, that we use every single day.