Members stevenkesslar Posted February 9 Members Posted February 9 Explaining the Strategy Behind Trump's Sovereign Wealth Fund So that article is a very interesting read to me. But probably boring as shit to most people. Which is bad news. One thing someone smart said at some point in some article I read years ago is that for subprime mortgages or huge corporate scams like Enron to work, it has to be boring as shit. People are easier to fuck over deep and good when they are bored, or confused. So this really has potential, I think. Both the tone and content of that article sound in the ballpark of what Warren Buffet or Stanley Druckenmiller might say. In other words, rational and prudent investors. As opposed to reckless and cruel assholes like Elon Musk. The only problem with the idea of prudent boils down to one word: "Bitcoin." I mean, it could make sense to base the financial well being of the US and its citizens on the biggest bubble in human history. But, then again, there is at least a teeny tiny chance that things could end badly. I'm assuming on something of this magnitude Trump will insist that the barely past puberty amateur coders that are invading our privacy and were racist before racist was cool can not be in the room. Even so, with our Gay fairy godfather at Treasury, I just have a bad feeling about this. Here are two charts some boring and prudent analyst at Bank of America, who no doubt lacks imagination, came up with a few years ago. They explain my bad feelings: So as of a few years ago, the boring and prudent crowd was saying BitCoin was the biggest bubble in the last half century, and one of the five biggest bubbles in human history. Note how the 1929 stock market crash, one of the top five ever, and various stock market bubbles in the US or Asia in the last half century just don't begin to measure up. I am betting money that some White male amateur coder who loves to torment Black middle class men who work for the US government, and was racist before racist was cool, would have the perfect rebuttal. Those charts above are a few years old. Bitcoin was not a bubble. It is worth even more now. How could Donald Trump deprive the US, not to mention his many wealthy crypto-donors, this great opportunity to create wealth? Leaving the barely past puberty racists aside, I read a post from some Musky MAGA dude on X that said whenever he reads these lame people saying Bitcoin is a bubble that will pop, even though every time it does pop it grows even bigger, he wonders why so many people have so little imagination? That's what Musk and Trump have. Innovation! Imagination! So I will end by pleading guilty as charged, and tell one of my favorite stories about being an ignorant old hooker. In about 2007 I was sitting with a client at the Post Ranch Inn in Big Sur and reading the Wall Street Journal in between sex. If you don't know, those are nice and pricey digs. There was some article about some European bank, I think in Germany, going broke because of something called subprime synthetic derivatives or something. WTF? I'll take sex, please. I had another client at the time who made a small fortune on the last foreclosure crisis in LA, buying foreclosed homes. He said this is nothing. A tidal wave is coming. So my imagination included the idea that a massive wave of foreclosures was coming in places like Sacramento. It did. But I was an ignorant old hooker, and I did lack imagination. I could not conceive of the idea that this thing was so big and awful that in a few short years it would take down AIG, Countrywide, Bear Stearns, and Fannie Mae. And cripple the US economy and the world for years. I just lacked that kind of imagination. Where is Elon Musk when you need him? So I can not really imagine just how badly Donald Trump can fuck thinks up if he gives it the old college try. But this at least creates a vague outline of what is possible. There is always an upside, if you have imagination. At least after it crashes and burns we'll get to see some future hot guys like Ryan Gosling and Christian Bale playing assholes in The Bitcoin Short. floridarob 1 Quote
