Cryptocurrency and Corruption under Presidential Seal

As Robert Reich writes in hi Trump’s Crypto Inc. substack post, Trump and his family are reaping a fortune from his presidency—starting with cryptocurrencies.

Some of his significant points:

  • Let me remind you [he writes], in addition, that cryptocurrencies serve no useful purpose other than the purchase of other crypto assets, money laundering, extortion, and scams. As economist Paul Krugman has said, their market value rests on nothing but “technobabble and libertarian derp.”

  • They also use huge amounts of energy — especially for Bitcoin mining.

  • On the eve of Trump’s inauguration, he and his wife, Melania Trump, each launched a meme coin — a type of cryptocurrency based on an online joke or mascot. The Trumps’ meme coins soared in value and then crashed — generating enormous profits for the Trumps and other insiders, but a cumulative $2 billion in losses for more than 800,000 other investors. The Trump family and its business partners earned nearly $100 million in trading fees alone on the coins.

  • The Trump family is now negotiating a financial stake in the U.S. arm of crypto exchange Binance, according to people familiar with the matter. This would put Trump in business with the firm that pleaded guilty in 2023 to violating anti-money-laundering requirements.

  • These crypto ventures have created some of the most overt conflicts of interest in the history of the American presidency.

  • The biggest danger is that crypto infiltrates Wall Street, where it could cause a meltdown that would make the 2008 financial crisis look like child’s play.

  • Never in history has the family of a president gotten the bribes now being pocketed by Trump’s. Trump once dismissed Bitcoin as a “scam.” Now, he’s seeking to turn the United States into the “crypto capital of the planet.”

The Real Cost of "Government Efficiency"

Musk's Destructive Policies

Elon Musk recently expressed dismay on Fox News over Tim Walz's comments about Tesla's plummeting stock prices. "What an evil thing to do! Who derives joy from that?" Musk lamented.

However, it's crucial to examine the truly harmful actions perpetrated under Musk's leadership, particularly through his so-called Department of "Government Efficiency," which appears more focused on dismantling government functions than streamlining them. What has Musk's leadership precipitated?

  • Global Harm: His policies have cut off essential medicine and food aid to thousands of starving people worldwide, resulting in the deaths of children and adults alike.

  • Economic Devastation: He has stripped tens of thousands of dedicated public servants of their livelihoods, undermining the stability of numerous families and communities.

  • Social Security Under Siege: Musk's administration is crippling Social Security, jeopardizing the well-being of seniors and disabled individuals who rely on these funds for their basic needs.

  • Democratic Backslide: There is a concerted effort to shift our nation from its democratic roots towards an oligarchy or fascism.

  • Corruption in Politics: Musk has attempted to influence elections by distributing money to voters in Wisconsin, a blatant attempt to buy political favor.

  • Misinformation Rampant: Under his ownership, Twixter has become a hotbed for misinformation and neo-Nazi propaganda, poisoning public discourse.

These actions reveal a pattern of behavior that goes beyond mere political disagreement or policy missteps; they represent a dangerous and callous disregard for the well-being of both American citizens and the global community.

A Regressive Agenda: Boosting the Worst from Tuberculosis to Tyranny

As reported in an The Atlantic article by John Green—The World’s Deadliest Infectious Disease Is About to Get Worse:

By retracting foreign aid, President Trump could make tuberculosis untreatable again.

The effects of Trump’s policies are not only going to Make Tuberculosis Great Again, but also Measles (well, disease in general), Ignorance, Hate, Bigotry, Recklessness, China, Putin, Autocracy, Injustice, Lawlessness, to name a few. The list goes on and on...