Like a true Strumpet, this is how Trump makes himself happy. As you say, "On a basic level, $TRUMP allows Trump to convert the power and prestige of the presidency into cash. Meme coins have no inherent value...." We know that this reckless man with his worthless value as a leader "has no inherent value"--he's a danger to our nation, and to everything he touches. Thanks Judd, hopefully your reporting spreads to all news outlets--the sooner everyone knows what Trump is doing for himself while destroying the lives of thousands of his constituents, the sooner he will be removed from power.
We need a big, beautiful swamp. The bigliest, most beautiful swamp ever created!
The fact that Trump stands to make something like a *billion* dollars a year--just in trading fees--from $TRUMP, is absolutely mind-boggling. That's conceivably $4bn in sweet, sweet cash during this term alone. And all of it, 100% untraceable! Vito Corleone's got nothing on this guy! And any time Iran or Russia or anybody $rich$ wants a project greenlit, they can secretly pump $50-$100million into his meme wallet, and he can just as secretly sell (dump) $1bn of meme coins the next morning when the price on the exchanges jumps.
Along with the cruelty, the grift is the point. And after all we’ve seen, it is impossible to muster any sympathy for those Trump supporters losing money on these scams.
This is his MO. Why the hell not? It works. He will continue to do it until we make him stop. From the rising anger and the mass protests, it's looking like we may be about to do so. Why it took the blatantly obscene level of corruption, cruelty and destruction we are now witnessing, I will never understand.
"He will continue to do it until we make him stop."
And therein lies the rub. He must be made to one way or another. He's like a crackhead on FIRE with a pipe in each hand, another one between his lips and the nuclear football right by his side.
The terms "meme coin" and "meme stock" are unfortunate in that they don't communicate the real harm that will be done to investors left holding the bag. That we're seeing it in this newsletter underscores that these aren't laughing matters, but I feel like some people will treat it like it's a joke either because it doesn't affect them or because they don't understand crypto. It's a scam, and Coinbase is going along with it.
Yes Joseph, and Katy, and Adam, how many in the Senate or House do we imagine really understand crypto cyber crime? or crypto anything? [I intuited years ago that any crypto should be avoided, and have not thought it worth my time to learn all about it! Thank you, Judd Legum for filling us all in.]
Right wing economists cry fowl when, in their view, monetary policy causes fluctuations in the dollar, the debt, inflation, etc. They cry fowl that the gold standard was thrown out. How many of them dream of getting rich on Trump's Monopoly Money? They secretly know they are lying. The value of things (dollars, crypto, bonds, stocks, etc.) always fluctuates. Value is always a matter of confidence. But crypto has taken the 'con' to a new level. There is absolutely no need for non-national currencies. They can only be used as a scam. The dollar maintains value, changeable as it is, because of the preponderance of reliability in our financial markets and, most importantly, our military and foreign policy commitments. All of that is being destroyed, minute by minute. The hope must be to destabilize the dollar and US debt to the extent that confidence can be transferred to crypto. Absolute insanity. Early on, Trump spoke of letting Treasuries default. He wasn't just dreaming. He meant it.
Who are the fraudsters? Trump claims he didn't sign his Enemy Alien Act proclamation; Billionaire Commerce Secty Lutnick hawks Tesla stock & claims that if you don't get your Social Security check & complain loudly, you're a fraudster; Musk claims Soocial Security is a Ponzi scheme...https://www.youtube.com/watch?v=oT0aYKbJK6s
Some of the corruption Trump is involved with is shadowy, but this, this is in the sunshine. Do the Republicans who back Trump's "policy" plans, think that this is okay? Really, what country are we in? Not America, no any more.
And just how did Trump rake in $400 million in losses in his “business?” If I tried to declare even a small, small percentage of that on my business, where I at least know how to turn a small profit, my accountant would be calling the IRS. Oh, wait….he doesn’t have a real business. It’s all a grift! Unbelievable that he continues to get away with all of this.
Don't have anything to add to the conversation but the level of grift and corruption, without any blowback or penalties, is - I don't know; can't find the word for it. The rubes who purchase Trump's grift, allowing him and a few wealthy investors to accumulate unimaginable wealth. It's so surreal, and yet it is happening in front of our faces and we can't do a damn thing about it. While we watch the country burn.
Like a true Strumpet, this is how Trump makes himself happy. As you say, "On a basic level, $TRUMP allows Trump to convert the power and prestige of the presidency into cash. Meme coins have no inherent value...." We know that this reckless man with his worthless value as a leader "has no inherent value"--he's a danger to our nation, and to everything he touches. Thanks Judd, hopefully your reporting spreads to all news outlets--the sooner everyone knows what Trump is doing for himself while destroying the lives of thousands of his constituents, the sooner he will be removed from power.
I can't believe that no one around Trump pointed out $TRUMP -> STRUMPET. OTOH, I believe it.
Melania should have named her bitcoin $TRUMPET!!
Bitchcoin? 😉
😂😂😂😂😂
Her coins name is already suitable: $MELANIA, which makes me think of Smellania every time I see it.
LOL!!!
We need a big, beautiful swamp. The bigliest, most beautiful swamp ever created!
The fact that Trump stands to make something like a *billion* dollars a year--just in trading fees--from $TRUMP, is absolutely mind-boggling. That's conceivably $4bn in sweet, sweet cash during this term alone. And all of it, 100% untraceable! Vito Corleone's got nothing on this guy! And any time Iran or Russia or anybody $rich$ wants a project greenlit, they can secretly pump $50-$100million into his meme wallet, and he can just as secretly sell (dump) $1bn of meme coins the next morning when the price on the exchanges jumps.
Along with the cruelty, the grift is the point. And after all we’ve seen, it is impossible to muster any sympathy for those Trump supporters losing money on these scams.
Perhaps there is pride in "losing" money to Trump, like it makes those without much money feel like players. I dunno, just a thought.
It certainly makes you one of the gang!
The 'gang that couldn't shoot straight' or the 'gang that couldn't ratiocinate?'
Just one o da boyz, eh?
Fooled me once, shame on you. Fooled me twice, shame on me. Fooled me thrice, give me a MAGA hat.
Nice report that should be on the MSM front page.
Switch the name from $trump to $Biden and you'd see that story covered like flies on a dookie-stick!
This is his MO. Why the hell not? It works. He will continue to do it until we make him stop. From the rising anger and the mass protests, it's looking like we may be about to do so. Why it took the blatantly obscene level of corruption, cruelty and destruction we are now witnessing, I will never understand.
"He will continue to do it until we make him stop."
And therein lies the rub. He must be made to one way or another. He's like a crackhead on FIRE with a pipe in each hand, another one between his lips and the nuclear football right by his side.
🎯 That's what I said Adam. Where is the military? Time to remove the Seditionist and perpetual law breakers!
No lies detected!
The terms "meme coin" and "meme stock" are unfortunate in that they don't communicate the real harm that will be done to investors left holding the bag. That we're seeing it in this newsletter underscores that these aren't laughing matters, but I feel like some people will treat it like it's a joke either because it doesn't affect them or because they don't understand crypto. It's a scam, and Coinbase is going along with it.
The entire Congress of the United States is "going along with it."
Thank You so much for always this depth of research and reporting brought to us.
President Ponzi. Charles Ponzi went to prison.
and yet, the fools continue to believe...
Easier to believe than to admit you've been deceived!
Yes Joseph, and Katy, and Adam, how many in the Senate or House do we imagine really understand crypto cyber crime? or crypto anything? [I intuited years ago that any crypto should be avoided, and have not thought it worth my time to learn all about it! Thank you, Judd Legum for filling us all in.]
Same here. When I hear about how volatile crypto is I thought to myself "no way am I driving myself nuts trying keep up with the ups and downs.
Every 30 seconds one would be ripe for a hai-kari session or counting imaginary eggs from imaginary chickens
Right wing economists cry fowl when, in their view, monetary policy causes fluctuations in the dollar, the debt, inflation, etc. They cry fowl that the gold standard was thrown out. How many of them dream of getting rich on Trump's Monopoly Money? They secretly know they are lying. The value of things (dollars, crypto, bonds, stocks, etc.) always fluctuates. Value is always a matter of confidence. But crypto has taken the 'con' to a new level. There is absolutely no need for non-national currencies. They can only be used as a scam. The dollar maintains value, changeable as it is, because of the preponderance of reliability in our financial markets and, most importantly, our military and foreign policy commitments. All of that is being destroyed, minute by minute. The hope must be to destabilize the dollar and US debt to the extent that confidence can be transferred to crypto. Absolute insanity. Early on, Trump spoke of letting Treasuries default. He wasn't just dreaming. He meant it.
My gawd, Judd! You make the scam so crystal clear. It blows my mind, the rock hard magical thinking that floats this shit.
All of the GOP & much of MSM & Big Law capitulate to Trump MAGA extortion & in your face corruption. https://www.youtube.com/watch?v=lFUnbS3TaY4
Who are the fraudsters? Trump claims he didn't sign his Enemy Alien Act proclamation; Billionaire Commerce Secty Lutnick hawks Tesla stock & claims that if you don't get your Social Security check & complain loudly, you're a fraudster; Musk claims Soocial Security is a Ponzi scheme...https://www.youtube.com/watch?v=oT0aYKbJK6s
https://www.youtube.com/watch?v=k9TcoPPOPjk
Jdg Hollander points out Trump disinformation
https://www.youtube.com/watch?v=2paGyKhs-gk
"Commerce Secty Lutnick hawks Tesla stock & claims that if you don't get your Social Security check & complain loudly, you're a fraudster"
Now this is a guy what needs his ass handed to him.
Just listened to Ben Meisel and signed up for his podcast...Thanks.
Some of the corruption Trump is involved with is shadowy, but this, this is in the sunshine. Do the Republicans who back Trump's "policy" plans, think that this is okay? Really, what country are we in? Not America, no any more.
Is now most unfortunately satellite kleptocracy of CCCP.
And just how did Trump rake in $400 million in losses in his “business?” If I tried to declare even a small, small percentage of that on my business, where I at least know how to turn a small profit, my accountant would be calling the IRS. Oh, wait….he doesn’t have a real business. It’s all a grift! Unbelievable that he continues to get away with all of this.
Bye Bye SEC just like any other regulatory agency in this administration it will be a farce to enable the billionaire bros
We don't need no Pump and Dump! We just need to Dump that Trump!
Don't have anything to add to the conversation but the level of grift and corruption, without any blowback or penalties, is - I don't know; can't find the word for it. The rubes who purchase Trump's grift, allowing him and a few wealthy investors to accumulate unimaginable wealth. It's so surreal, and yet it is happening in front of our faces and we can't do a damn thing about it. While we watch the country burn.
Astronomical?
A good one but still not enough.