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the trump administration and crypto fraud

TragicMonkey said:
There's got to a point in wealth accumulation where it stops being rational at all and turns into insanity.
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To some people, being rich means that you re better than others. Being extremely rich shows that you are much better than others. Just see how Donald Trump speaks approvingly about other billionaires. Among the elite, there is a coolness factor about riches that has nothing to do with actually spending the wealth.
 
TragicMonkey said:
What the eff are they doing with it all? It seems every day there's a new grift, another scheme, a new company...but why? Trump and his spawn already have billions, what do they need more for? Don't they already have more than they could spend in their remaining lifetimes? Where is it all going? Or do they just like to see ever-higher numbers on a spreadsheet, with no notion of ever spending it?

There's got to a point in wealth accumulation where it stops being rational at all and turns into insanity.
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And if you're a billionaire you have clearly gone past it.
 
steenkh said:
To some people, being rich means that you re better than others. Being extremely rich shows that you are much better than others. Just see how Donald Trump speaks approvingly about other billionaires. Among the elite, there is a coolness factor about riches that has nothing to do with actually spending the wealth.
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Decades ago when I was a kid, I read a Richie Rich comic in which he was invited to join a "sons of billionaires" club. He watched them dismiss another kid because his father was only a multimillionaire, prompting the kid to burst into tears and exclaim "If only my father was a little richer."
The more things change, the more they stay the same, except the kids in the comic were portrayed as villains, not role models.
 
TragicMonkey said:
What the eff are they doing with it all? It seems every day there's a new grift, another scheme, a new company...but why? Trump and his spawn already have billions, what do they need more for? Don't they already have more than they could spend in their remaining lifetimes? Where is it all going? Or do they just like to see ever-higher numbers on a spreadsheet, with no notion of ever spending it?

There's got to a point in wealth accumulation where it stops being rational at all and turns into insanity.
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I reckon the reports of wealth are as fraudulent as his health reports and the TACO crime family are barely keeping their heads above the water. Somebody might be getting rich from these small timer schemes, but I don't think any of the Trumps have the brains to do it.
 
Planigale said:
I am not stupid, but I fail to see how this is anything but fantasy finance.

I read an article the other day that the wealth of Trump's cabinet was $15billion. These people cannot understand the life of normal people.

I don't think these people are immoral or amoral, they genuinely believe making money is a virtue. They just don't realise how a focus on making money is corrupting.

Kushner clearly isn't stupid, he went to Harvard, and got a JD and MBA from NYU. But he did nearly bankrupt the family by overleveraging them. He got bailed out by middle east money just before his father in law became POTUS. Despite no track record in investment he gets $billions from the middle east to fund his private equity investment company. He probably thinks this shows what a great investor he is. Part of his investments are in (illegal) Israeli settlements in the West Bank. Part in the crypto currency businesses of Trump family. His family are close with Netanyahu.

Despite major conflicts of interest and lack of any international or diplomatic experience this is who Trump asked to lead negotiations with Iran, and to negotiate with Palestinians. Perhaps it isn't unexpected that the Iranians have some lack of trust in the US. We'll leave aside the errors related to his lack of understanding of things nuclear. He does this part time whilst also running his various 'businesses'.

Most normal people when asked to do something of global importance affecting millions of people with no expertise or experience would decline and suggest some one competent was asked. It is the overwhelming arrogance of someone who thinks that he can wing it I find dumbfounding.
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Kusher's father is a billionaire, he's a long term legacy at Ivy League colleges. That kind of person accumulates qualifications without even getting so far as learning how to spell their own name.
 
Gulliver Foyle said:
I reckon the reports of wealth are as fraudulent as his health reports and the TACO crime family are barely keeping their heads above the water. Somebody might be getting rich from these small timer schemes, but I don't think any of the Trumps have the brains to do it.
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there's a big problem with trying to turn a lot of crypto into actual dollars. anyone that thinks these stablecoins are backed 1 to 1 are pretty likely to find themselves sadly mistaken, and considering who's running the show, wlf is a prime candidate for having cooked the books on their stablecoin
 
abcnews4.com

Trump says US is 'leading by a lot' in AI, crypto -- and wants to keep it that way

President Donald Trump hosted cryptocurrency executives and financial regulators at the White House on Wednesday.
abcnews4.com abcnews4.com

speaking of stablecoins

Representatives from major cryptocurrency companies and financial institutions, including Coinbase, Ripple, and Nasdaq, were in attendance, along with SEC Chair Paul Atkins and Commodity Futures Trading Commission’s Innovation Advisory Committee (CFTC) Chair Mike Selig.


Trump said they are collectively ensuring that the U.S. remains the undisputed leader, not only in Bitcoin and crypto, but also technologies like prediction markets and AI.
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trump says we're going to be the world leader in bitcoin and crypto, gambling, and ai.

great
 
www.ms.now

Opinion | Trump Jr.’s firm makes large Polymarket investment amid dad’s crusade against regulation

Plus, Elon Musk urges AI deregulation, a judge cautiously approves AI-generated child porn and more — all in this week’s Tuesday Tech Drop.
www.ms.now www.ms.now

trump jr makes a big investment in polymarket, heavily involved in both polymarket and kalshi as an advisor

Donald Trump Jr.’s firm is making a major investment in Polymarket, the glorified gambling company that has been linked to various trades made by people seemingly looking to profit off decisions made by the Trump administration. The president’s son is an adviser to both Polymarket and its main rival, Kalshi.

The Wall Street Journal reported that Trump Jr.’s firm, 1789 Capital, is making a $300 million investment as part of a funding round totaling $1 billion. The news follows recent reporting from The New York Times that the younger Trump urged Republican state attorneys general earlier this year to back off regulating prediction markets. The Trump administration has already sued several states over such efforts.
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Why doesn't he just start printing money with his face on it, calling it legal tender, and shipping truckloads of it to himself?

That's pretty much what he's doing already. I guess it's easier to move millions via Polymarket and crypto.
 
Orphia Nay said:
Why doesn't he just start printing money with his face on it, calling it legal tender, and shipping truckloads of it to himself?

That's pretty much what he's doing already. I guess it's easier to move millions via Polymarket and crypto.
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americanbazaaronline.com

Trump portrait featured on new $1 coin for America’s 250th anniversary

The U.S. Mint has launched a collectible $1 coin featuring President Donald Trump as part of America’s 250th anniversary celebrations.
americanbazaaronline.com americanbazaaronline.com

they call it 4d chess
 
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