Same bullsht over and over again: justifying a so called “preemptive” strike by the threat that didn’t exist. Same justification was used by Trump’s friends Mr. Poo-tin to invade Ukraine.
Jim Cramer is a FRAUD.
This guy really just went on CNBC and said the government is buying Bitcoin at $60,000.
Let me tell you why his narrative (and Bitcoin) is COMPLETE NONSENSE:
Friday, Bitcoin crashes to $60,000. Down 52% from its October high. Over $1.2 trillion in value evaporated. Panic everywhere.
And right on cue, Cramer goes on CNBC and says: "I heard at $60,000 the President is gonna fill the Bitcoin Reserve. You better cover."
No source. No evidence. No documentation. Just "I heard."
This is the same Jim Cramer who told you Bear Stearns was "FINE" five days before it lost 90% of its value.
The same Jim Cramer who called Silicon Valley Bank "compelling" weeks before it became the second-largest bank failure in American history.
The same Jim Cramer whose stock picks were so consistently wrong that Wall Street created an actual ETF to bet against him. Filed with the SEC and everything.
A Wharton study found his portfolio returned 4% annually from 2000 to 2017. The S&P returned 7%. You'd have done better flipping coins.
Now let's look at the facts he conveniently left out:
Treasury Secretary Bessent testified on February 5th that the federal government has NO legal authority to buy Bitcoin with public funds. None.
The March 2025 executive order says the reserve can ONLY hold Bitcoin from criminal seizures. No taxpayer purchases authorized.
Blockchain firm Arkham confirms government wallets haven't moved in over a month. 328,000 BTC sitting there. Unchanged.
Zero on-chain evidence. Zero official confirmation. Zero legal authority.
So why does a TV personality with the worst track record in financial media go on national television and tell you to "cover" at the exact moment of maximum panic?
When someone with a megaphone tells you to buy during a crash with no evidence, you don't ask IF there's an agenda. You ask WHOSE.
Meanwhile, here's what's actually happening in the real world:
Bitcoin is down 52% from its high. Gold just hit $5,020 an ounce - up 60% over the same period.
China's central bank has bought gold for 15 consecutive months. Saylor's Strategy is sitting on $6.5 billion in unrealized losses.
Bitcoin was supposed to be "digital gold." The ultimate safe haven.
Instead it's trading like a leveraged tech stock in a risk-off environment. Because that's what it always was.
The "digital gold" narrative didn't survive contact with actual crisis.
Real gold did.
Cramer is giving you a story to keep you from asking why Bitcoin failed its most important test.
Peter Lynch taught me something I've never forgotten:
When someone tells you to buy during a panic, ask what they own. If they can't show you receipts, they're showing you the exit.
Gold is telling the truth. Bitcoin is telling a story.
I know which one I'm holding.