I’m reading this and I’m amazed. The guy is capturing all wealth of the US into private hands, releases a digital currency almost sounding like an official US currency under private venture, and people in the US clap? I think it could be the best time to review own morals.
It blows my mind. I know several otherwise intelligent people who consume Fox News and think anything negative said about this guy is proof of media bias. It’s a weird feedback loop where any criticism results in people
trusting him more.
It is that but it's also the opposite of that at the same time — he wants big businesses to own things but he thinks the government should have a cut. It's the state as protection racket.
He's argued for it for a long time, now he's actually doing it through state thuggishness, but his enthusiasm for it makes him vulnerable to lobbying from Sam Altman and OpenAI, who would actually benefit, and appear to have softened him up on the idea that the USA should have a 5% share of OpenAI.
(OpenAI's 5% gambit, I think, is because they'd prefer he asks for 10%, and reckon he'll try to get one over on them by pushing for that)
Trump may be untouchable (and he is decaying too fast to really experience what consequences could reach him) but I think someone may go to prison for that scheme. It's just astonishing.
Ah, I wondered what was going to be the terrible reason that people in the admin like Vance were arguing that the US should stop being the world’s reserve currency. I guess they want to swap it for currency they control.
it wouldn't be surprising if you read about Epstein's involvment in jump starting crypto. The kiddy diddlers, unsurprisingly, wanted independent wealth so they couldn't be squeezed by the monied balls.
Now they can destroy the US dollar and move everything into crypto, or so they think. Who knows if the billionaires will actually understand whats happening.
Care to expand upon that?
Where do you think things are headed?
I have some ideas, myself, as a form of financial guy and I’m very interested to hear other opinions
One fascinating small indication is the relatively underreported machinations in the last couple of weeks where the USA has been selling billions of its Euro holding, without any co-ordination with the ECB, to buy Yen, so that the Japanese don't sell US bonds to get out of a hole, which would be bad for the USA.
Also the brinkmanship in the way Bessent "announced" that, without announcing it formally, by writing down his plan to do so clearly on a notepad so a reporter would photograph it, which is something he has already said he's done before and, to my mind, comes across as beyond childish.
The EU apparently is furious and considers this reckless, and the strategy itself is incredibly time-limited because they will soon enough run out of Euros to sell. And then what? Japan liquidates its US treasury bonds anyway and the USA has burned another bridge with Europe.
Just a small, self-contained example of the USA acting without care or co-operation internationally.
Nothing about the USA speaks of the kind of trust you need in a country and its currency for it to be the de facto global reserve currency. Though whether the world actually makes any change there in my lifetime, who knows; there's an enormous amount of inertia to overcome.
It'll come back up. Bitcoin always does. So if you want to play the long game, this is a great time to invest. Be aware that the long game could mean many years though.
How many bomb alerts in only Democrat strong areas, for example?
Objectively, I think this might be a slight exaggeration...
He's argued for it for a long time, now he's actually doing it through state thuggishness, but his enthusiasm for it makes him vulnerable to lobbying from Sam Altman and OpenAI, who would actually benefit, and appear to have softened him up on the idea that the USA should have a 5% share of OpenAI.
(OpenAI's 5% gambit, I think, is because they'd prefer he asks for 10%, and reckon he'll try to get one over on them by pushing for that)
There is a Roman word that best describes the current corruption frenzy: A Bacanal
Now they can destroy the US dollar and move everything into crypto, or so they think. Who knows if the billionaires will actually understand whats happening.
Also the brinkmanship in the way Bessent "announced" that, without announcing it formally, by writing down his plan to do so clearly on a notepad so a reporter would photograph it, which is something he has already said he's done before and, to my mind, comes across as beyond childish.
The EU apparently is furious and considers this reckless, and the strategy itself is incredibly time-limited because they will soon enough run out of Euros to sell. And then what? Japan liquidates its US treasury bonds anyway and the USA has burned another bridge with Europe.
Just a small, self-contained example of the USA acting without care or co-operation internationally.
Nothing about the USA speaks of the kind of trust you need in a country and its currency for it to be the de facto global reserve currency. Though whether the world actually makes any change there in my lifetime, who knows; there's an enormous amount of inertia to overcome.