Doomscroll News

Tag: Reserve

  • Precision Doctrine: Re-evaluating Digital Assets from Peacetime Liability to Wartime Strategic Reserve

    Precision Doctrine: Re-evaluating Digital Assets from Peacetime Liability to Wartime Strategic Reserve

    David’s Note: This article was substantially revised on October 12, 2025 to incorporate new research and provide a more comprehensive analysis.

    Executive Summary

    This report argues that the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act represents a fundamental misinterpretation of digital asset technology’s strategic value. The Act integrates stablecoins into the peacetime financial system to foster innovation. However, this policy creates a significant national security liability. It strengthens a global infrastructure that adversaries exploit for illicit finance and sanctions evasion.

    The core argument is that the technology’s decisive value is not in peacetime commerce. Instead, its highest and best use is as a strategic military asset reserved for times of declared conflict. This analysis examines the GENIUS Act, the arguments of its proponents and opponents, and the extensive evidence of security threats posed by the peacetime proliferation of cryptocurrencies.

    As an alternative, this report proposes a “Wartime Digital Asset Act.” This framework would restrict the peacetime use of public cryptocurrencies. It would simultaneously develop the underlying technology as a strategic military reserve. This capability would be activated only upon a declaration of war by Congress for critical applications. These include resilient command and control, secure logistics, and wartime finance.

    The report concludes that true technological leadership requires the precise application of innovation to its most decisive purpose. In this case, that purpose is to serve as a reserved instrument of national power.

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  • Federal Reserve Notes vs. United States Notes

    Federal Reserve Notes vs. United States Notes

    United States Notes differed from the later Federal Reserve Notes primarily in their issuing authority and initial backing.

    How United States Notes Initially Worked: United States Notes were first authorized by the First Legal Tender Act in 1862 during the Civil War. They were issued directly by the U.S. Treasury to pay for war expenses and other government obligations. This meant the government itself was putting this money into circulation, essentially as a “bill of credit,” without involving lending or borrowing from a central bank. Initially, these notes, popularly known as “greenbacks,” were a form of fiat currency, meaning their value was based on government decree rather than being backed by a specific commodity like gold or silver that could be redeemed on demand. However, later, some United States Notes were redeemable for precious metal after the specie resumption of 1879. The early notes carried an obligation stating they were legal tender for all debts, public and private, except for duties on imports and interest on the public debt.

    A Silver Certificate
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