A dunce is a dunce. Is a dunce. One would have thought that once Traitor Tot took an 80% bloodbath on the opening high price of his useless Bullsh*t Social platform, he’s learned that sometimes the bulls make money, and sometimes the bears make money, but the piggies always get stuck. But why would he? After all, Traitor actually put up no money in this venture, it was nothing more than a branding exercise to him, one potentially worth some $2 billion.
Little Wonder that His Lowness has decided to wander into uncharted territory and make a quick scam killing in crypto currency. And why not? After all, he already put together one POS platform on the cheap and got paid $2 billion for it. Why not move on to greener pastures and replicate success?
Because Trump the financial imbecile has absolutely no idea of what he’s getting into. And while Trump has never actually played the stock market, he knows the stock market. He knows that stocks have value because they’re bought and sold with dollars. And those dollars have value because of the gold in Fort Know says so. And the SEC is there to make sure everybody colors within the lines.
Crypto currency isn’t an actual currency, it’s the illusion of a currency. You give the crypto currency platform $1000, and they give you a number worth $1000. Why is it worth $1000? Because the platform says so. But there is nothing actually tangible and physical to give it any value at all.
And because it’s a totally new concept, there is no federal regulations or laws overseeing the conduct of business. A bunch of financial programming savants came up with this boondoggle, and they play by their rules because they wrote them. And so far, nobody knows what those rules are. But you know one thiing for sure, they’re tilted towards the cash station cowboys.
Trump honestly thinks that all he has to do is to put together another piece of sh*t platform on the cheap, get it up and running, and wait for his name to bring the big boys in to bail him out once it’s a total cock up. What does he care? He’s going to tell his McDonalds U programmers to find a way for him to skim from the top.
And the crypto currency kingpins already know enough about Traitor Tot to know that the last thing they want is Trump in their backyard. Because everything Trump touches dies. And like Sam Brinkman, but with less education, Trump is an uncontrollable loose cannon that left unchecked will create another debacle that will almost certainly bring federal regulations down on their heads. So they’re on their hind legs to keep him out of their playpen.
But Trump doesn’t care about that. All Trump sees is a quick, profitable scam. especially since crypto coin is largely unregulated, Trump feels unfettered to get the platform up, skim from the top, and once again wait for Wall Street investors to swoop in and bail him out with a lucrative stock option plan. The skimming scam is insignificant to the ultimate corporate payout when he takes the platform public.
But because Trump is at his core dirt stupid, the whole thing is doomed to failure. Just the name Trump on a crypto coin platform pretty much assures instant monitoring by the SEC, bank regulators, and the FBI. And because Traitor Tot has the IQ of celery, I’m betting it will take less than a year before securities and bank regulators, along with the FBI swoop in and shut him down before the talks can even get started on a stock exchange Initial Public Offering.
And best off all, there will be no presidential immunity for these charges. He engaged in this activity purely as a private citizen. So please Traitor Tot, go ahead and start up your crypto coin Ponzi scheme. I can always use new material, and Sam Brinkman can use a roommate as dumb as he is.
I thank you for the privilege of your time.
Trump certainly is a ‘self-ordained’ financial wand. So, how can he, as he’s currently proving, have both feet in his mouth; his head up his fat arse; and a proboscis capable of sniffing the scent of a Crypto grift? Yet here he is, doing it all at once. He’s a fu**ing self-proclaimed financial wizard, isn’t he! Not! As you put it, and I quote, he’s “… an uncontrollable loose cannon …” a “… financial imbecile [that] has absolutely no idea of what he’s getting into…” simply because it’s an unregulated arena, and he sees it’s ripe for his grift, through using a brand name, which will be the nemesis of his grift. Sow it as you see fit, Crypto D—ump, but you’ll definitely reap what you sow.
I’m guessing Trump and his spawn have no idea what crypto currency actually is or how it works. rather than hiring some computer geeks and paying for some serious hardware, and the small city’s worth of electricity to run it they’ll just crank out some digital images of Trump coins with serial numbers on them.
I feel at this point, trump is such a pathological conman, he couldnt even run a business legitimately. He has been a scammer for so long that he wouldnt contemplate running a company above board.
Gold doesn’t back dollars, nothing does but the threat of aerial bombings. We’ve been off the gold standard since 1971. Dollars are worth something because you were told they were. Clearly the author doesn’t understand the topic.
Federal Reserve Notes, be they individual dollars or higher value denominations are backed by the ‘full faith and credit’ of the United States of America. The currency of other countries is often backed/guaranteed in the same manner. Now, one could make the argument that our National Debt and annual deficits (most of which has been racked up by REPUBLICAN President’s and Congresses) puts our backing of the Dollar on shaky ground. However, the world still views the Dollar as THE currency. It’s the measuring stick for everyone else so it seems pretty goddamned solid.
Sigh! I always feel like I am alone while I scream in the wilderness about the real dangers of cryptocurrency! I am saddened for all the people who have lost all their money to the greedy scammers in crypto, but that’s often their own fault. My screams are about what the greedy scammers of crypto are doing to our environment! There is no form of environmental destruction these crypto bros are strangers to. They use astronomical amounts of electricity for “crypto-mining” in their “crypto server farms” which are giant gatherings of computers. These are so large they can use as much electricity as small countries. So, of course, more fossil fuel is necessary. Electricity grids are strained beyond capacity and server farms were definitely party to the TX electrical grid failures. The farms destroy small towns where they move onto land or into nearby caves and run day and night…locals deal with the traumatizing noise pollution they bring; there is no escape! The farms need to keep all that machinery cool so they suck up water from every source and dump hot water back into rivers and streams and lakes…good luck fish and critters! We all know the life-expectancy of electronic equipment is short and the massive dumping of used-up servers is another lovely nightmare! Please don’t leave me alone in the wilderness! Join me in fighting against more destruction of our planet of billions of souls for the greed of a few soulless monsters!! 👹 There are many sources for more info. Here’s one from August of this year: “What’s the Environmental Impact of Cryptocurrency?”
https://www.investopedia.com/tech/whats-environmental-impact-cryptocurrency/
The environmental impact of crypto has been vastly overstated. If you want to see something more destructive, check out the environmental impact of AI. That’s far more energy intensive.
But, Pan, can’t we hate and work against both? And, since you ask, well no, I don’t wanna see something more destructive but I concede that lots of things are! 😟
Hey there, Pan! I originally replied to you on the basis that crypto and AI are both horrible for the environment, so why argue. Welp, just today I found the story that Zuckerburg is buying up part of Three Mile Island to run AI on nuclear power!! Zuck is wisely using clean energy for all that AI or he’ll bring the end of the world? I report, you decide! 😁
When I read the headline, I thought it said tRump does start his own crypto currency PROBLEM. After reading the piece, it might be accurate.
Much crypto is legit and here to stay. Old people have trouble with that, but everything else is being digitized and so is money. Younger folks have no trouble with the concept at all – it’s generational.
However, the Trumps have built a unique structure where anyone named Trump is guaranteed a return and everybody else gets screwed. It’s just like everything else they put together.
Pump and dump schemes exist in all kinds of currencies, not just crypto. The favorite form of payment among criminals remains suitcases full of crisp, hundred dollar bills.
And the guy in jail is named Sam Bankman-Fried, not Brinkman. Just thought I’d point that out.
“Have you ever me someone and thought,’by the goddess, he has the I.Q. of a crayon ‘ ?”
– Linzi Day, Midlife at Gretna Green.
Yes, every MAGA
If I were running the compliance area of the SEC, I would have made an announcement to the market after Mr. Trump stated publicly that he wouldn’t be selling.
Something along the lines of “in the light of that assurance, we will require Mr. Trump to give the market X (30?) days’ notice if he intends to sell more than Y (1000?) shares in one day”.
Then tell Truth Social management to monitor. These days the market should know exactly who is selling any specific batch.