Judd Legum notes that Trump is "the first person to be sworn in as president while simultaneously hawking an eponymous meme coin."
"The primary beneficiary of this speculative activity is Trump himself. In a move that raised red flags even among crypto enthusiasts, 80% of all $TRUMP coins are reserved for a company owned by Trump."
[#]Trump #memecoin #bitcoin #crypto #TrumpCoin #grift #corruption
/1
https://popular.info/p/the-inauguration-of-a-multi-billion
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"At its peak, the value of these coins exceeded $50 billion, making $TRUMP, which did not exist a few days ago, the dominant source of Trump's wealth. The $TRUMP coins owned by Trump are currently locked, meaning they cannot be sold, but will be released in tranches over the next three years."
[#]Trump #memecoin #bitcoin #crypto #TrumpCoin #grift #corruption
/2
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"Memecoins are used constantly for crypto 'pump and dumps.' Scammers or simply well-connected industry pros hype up a new token, using social media and influencers to push its profile, causing it to surge in value, which in turn allows insiders to sell their holdings before the price crashes. $TRUMP is a prototypical pump and dump, occurring at the highest level of politics and grifting."
~ Jacob Silverman
[#]Trump #memecoin #bitcoin #crypto #TrumpCoin #grift
/3
https://zeteo.com/p/what-is-trump-memecoin-explainer
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"Get ready for 'just us,' not justice. Americans who believe Trump is fighting for them fail to understand that for Trump, politics is purely transactional, a matter of what he can extract from people in exchange for his ability to pull the levers of power on their behalf."
~ Joyce Vance
[#]Trump #TrumpCoin #grift #EconomicElites #SuperRich #greed #corruption
/4
https://joycevance.substack.com/p/inauguration-day-takes
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"Everything seems to be on the table, including the mortgage interest deduction, tax-exempt status of municipal bonds, the child tax credit, and anything remotely related to climate science. All to help offset the cost of extending the Trump tax cuts for 10 years.
In the first year alone, extending the Tax Cuts and Jobs Act (TCJA) will create a $112.6 billion windfall for earners in the top 5 percent."
~ Marlon Weems
[#]Trump #EconomicElites #SuperRich #TaxCuts
/5
https://thejourneyman.substack.com/p/the-gops-tax-everybody-but-billionaires
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"While newsrooms are focusing on the rule of law, MAGA opinion outlets are focusing on Trump's rule."
~ Brian Stelter
[#]Trump #grift #EconomicElites #SuperRich #greed #corruption #TaxCuts #RuleofLaw
/5
https://view.newsletters.cnn.com/messages/1737468266447ab22cbbd83a9/raw
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"In the background, the whole TikTok kabuki set the table for four years of grift and untruth.
~ Charles Pierce
[#]Trump #grift #EconomicElites #SuperRich #greed #corruption #TaxCuts #RuleofLaw #TikTok
/6
https://www.esquire.com/news-politics/politics/a63486107/trump-inauguration-president/
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@wdlindsy Later, later, he is going to say:
"No I never swore that oath, my hand was not on the bible."
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@Frank_Engelhard Indeed.
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text/gemini