“President Trump’s net worth,” the group estimated, “could roughly be #$15.9 billion, with about $11.6 billion in uncounted crypto assets.” This would mean crypto accounts for 73% of his net worth.
Trump would be one of the foremost beneficiaries of this bill, which would exclude digital assets like his $TRUMP and $MELANIA “meme coins” from SEC regulation.
Not only does this benefit Trump, said Accountable.Us executive director Tony Carrk, but the legitimization and entrenchment of these unstable assets has the potential to make the whole economy less stable.
“Eerily reminiscent of the risky behavior that gave us the 2008 financial collapse, Donald Trump is ushering in a new era of casino-like speculation on Wall Street with highly volatile crypto trading in retirement accounts,” Carrk said.
Release the Trump/Epstein files
American standards sure are in the dirt. We made Carter sell his peanut farm, and now people defend this corrupt dotard.
Well this is the guy that bankrupted multiple casinos
Of course you should let him turn the US economy into one
Still blows my mind. How do you fuck up a casino that badly - multiple times!
Oh, right. Fraud. That’s how.
It’s funny that Republicans were trying everything under the Sun…including fabricating evidence…to show how Biden was profiting off of his position. And they never actually found anything.
But, here we are now…and it’s nothing but crickets.
“Conservatism consists of exactly one proposition, to wit: There must be in-groups whom the law protects but does not bind, alongside out-groups whom the law binds but does not protect.”
It’s even worse than that, because Trump’s grip on the Federal Reserve is growing, and in May of next year he gets to appoint a new Fed Chairman. You can absolutely bet that Trump’s appointee will be chosen by how quickly he does what Trump demands, so there is a high probability that we will see imprudent rate cuts that will give us the greatest financial bubble of all time, followed by the biggest financial collapse. The dollar will be destroyed in the process.
It’s already collapsing, I don’t think we’ll have to wait that long.
What we’ve seen is financial erosion - slow and steady over time. What is coming will be unlike anything in our lifetimes. We’ll see markets plummeting, bank runs and failures, hyperinflation >50% per year, and lot and lots of panic.
If you take a close look at the trajectory from 2008 and the wage, asset, and income inequality trends from the stagflation days to today you’ll find that imprudent rate cuts have been the name of the game for awhile now. Yeah Trump will overcharge it and cause the massive collapse and inflation faster but it’s coming regardless. Powell ain’t no Volker but even Volker couldn’t fix the absolutely shit fundamentals the neolibs have fooled themselves into thinking a healthy economy is made of.
and in May of next year he gets to appoint a new Fed Chairman.
watch, he’s going to appoint some chud like vince mcmahon as the fed chair.
this alone is reason enough to hope for a crypto crash.
His voters clamored for “running the US like a business,” and Trump is delivering. Somehow his voters missed the part where every business he’s ever touched was embezzled to death.
Tbh a financial disaster might be the only thing to get republicans in Congress to impeach this guy. Major job losses and equity losses would make it super easy to save face and blame the guy in charge.
Not that I want that to happen, but it could be a silver lining if it did
God, I can’t wait till someone "removed by moderator"s him.
You mean you want Trump *deleted by user* ?
No I want him redacted
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This is Lemmy. Isn’t everyone gay?
Ironically he made homelessness illegal right before Great Depression 2 better start building those concentration camps
But it’d be a shame of some Chinese hacker stole all that crypto.
It’s what he agreed to! Not your keys, not your coins.
Gyna, if you’re listening…!
Everyone keeps pointing fingers at this orange clown
Yet no one ever talks about the circus freaks that let him take control and call him their king.
Strump and Smelania.
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