Transcription
All right. So, I'm going to give you the last line of the story here to see if it hooks you and then I'll backfill to paint the whole picture. You ready?
Donald Trump has laid the groundwork to become one of the wealthiest people on the planet by personally making money from every dollar printed in the United States. And the worse the economy gets, the more money he stands to make. Now, this sounds illegal, but it's not. At least not yet. It sounds far-fetched, but it's already underway. And it sounds like something you would have heard or read about, but you probably haven't. So, let the back filling begin.
The almighty dollar makes the world go round. Now, my kids have a different relationship with this kind of dollar than I do. I've spent my whole life trying to get and hold on to these kind of dollars, but to them, this is close to useless. Venmo me instead, they'd say. And my guess is that their kids will look at that dollar like it's a rotary phone. And to be fair, most dollars aren't physical, and they haven't been for a long time. Dollars are just denominations of national currencies that mostly now sit on ledgers. But whether the vehicle is a credit card, a debit card, PayPal, Venmo, a wire transfer, or just cash, the value of money moving from one person to another is based on one thing alone that Americans under the age of 80 at least have never had to think about. Faith in the US government. Faith that this will hold its value and buy a good or a service in the market and that everyone involved in exchanging it understands what it buys.
Now, we've had it good for a very long time now and I've bored you to death before about the importance of Breton Woods in 1944 and how it made the US dollar the world's reserve currency coming out of World War II. But it is as relevant today as ever before. Even in the 1970s when inflation was ripping, the dollar was the dollar better than all the rest because we knew its worth. So, as we go forward today, I want you to think about these two things. The paper dollar and all it represents and the implicit and unwavering trust in the United States to stand behind it.
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Several years ago, when Bitcoin hit the mainstream, I asked a financial industry veteran what he thought about the proliferation of crypto. And he didn't poo poo it right out of the gate. He acknowledged it as a speculative vehicle with no inherent value, but with a caveat. He said, "When I can buy a burger with Bitcoin, it'll have my attention." So, when we think about exchanging currency for a good or a service, most of us still aren't thinking about crypto as a means of payment. Now that said, adoption is happening quickly in certain sectors and it's becoming increasingly routine for cross-border transactions that are initiated and settled in crypto exchanges. So the next revolution in crypto payments will definitely be in the retail sector like when you pay for that burger in crypto with your digital wallet. PayPal is already in this space and several competitors are racing to encourage adoption. So this is happening, but it's important to understand the underlying mechanisms that make the engine run because it'll offer insight into the Trump family gambit.
So let's take credit for example. When you pay for something with a credit card, you're just moving money along a ledger. And there are several intermediaries that are invisible in this process. There's an originating bank like Chase, a merchant processing company like Fiserve, the payment facilitator like Stripe, the merchant services company like Card Connect, an ISO or an independent sales organization that sets up that merchant to accept payments, and the card network like Visa or Mastercard, and of course, the merchant itself. So, each one of these takes a cut along the way. The ones that sit at top the heap are evaluating your personal creditworthiness to decide whether you're going to fulfill your obligation to pay that charge down the road. And the outcome of this evaluation or your credit score determines how big the fees are between you and the merchant and all of those layers in between. So even when you're paying with a debit card, there are still fees associated with it that are paid by the merchant for the ability to accept those funds from you. It's actually a pretty amazing concept and it's a system that we've lived with for decades. It's mature. It's seamless and it's really, really inefficient. Hundreds of billions, if not trillions of dollars at this point, have been sunk into the infrastructure and marketing of it all. And now we live in a world where credit cards are accepted everywhere, even with all those grubby hands in the middle taking a cut.
So now expand the example to global finance because it's not all that different in terms of moving money from one account to another. A company in France that wants to purchase equipment from a company in Canada, let's say, will go through much the same process. So even though one does business in euros and the other one in Canadian dollars, they can agree upon a value for the transaction and consummate the relationship. So there are banks in both countries and intermediary banks that will negotiate the transfer of money whether it's on a credit card or through an electronic transfer. Fees are taken out and days might occur between sending and receiving the payment because there are still financial intermediaries determining the currency exchange and debiting and crediting ledgers. Again, it's all pretty incredible, but it's really inefficient and it's really expensive when you add it all up. More importantly though, 90% of these transactions are actually settled in US dollars.
So what if there were no onerous fees? Instead of five intermediaries, what if there were none? What if we all agreed that a digital coin equaled X in value and we could pay and receive this coin in an instant? No central bank backstopping an originating bank with reserves and swaps, no processing agent taking fees, no interest. Well, this exists already. This disintermediation is happening all over the world and it's accelerating exponentially. Now, forget about all the [ __ ] meme coins that are out there. Forget about Bitcoin. Don't think about centralized versus decentralized blockchain ledgers and all of that kind of stuff. Just think about that one coin. That one coin that represents a value that the whole world agrees on. Everyone recognizing this digital coin in the same way that you and I look at this dollar and perceive value in it because we know what it buys in the world. That's a stable coin and it's Donald Trump's back door to becoming one of the wealthiest people on the planet. Only he's not there yet. He's close, but there's still time to stop this from happening.
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When it comes to digital currency and payments, no country in the world compares to China. In China, citizens can already pay for that burger with digital currency called ECNY, the digital yuan backed by its central bank. So residents there can use uh WeChat pay, for example, to pay for everything from Starbucks and dry cleaning to utility bills and taxes in several major cities where pilot programs have been extensively rolled out. So users don't have to use the Chinese digital yuan through the central bank. They can still use their WeChat wallet attached to their bank account without using the ECNY. But as one might imagine, the Chinese government is encouraging widespread adoption of the digital yuan. So if we imagine China as a microcosm of the world and what's possible, then the future is the present. If China achieves full adoption of its ECNY digital coin, the system there will be completely disintermediated, meaning all of those middlemen will be out of the equation. China's central bank backstops the digital yuan. Everybody agrees on its value. Everyone makes and accepts payments with it.
So it begs the question, why don't we do the same thing? Well, first off, our economies are very different. Starting with how we raise capital to fund our respective governments and where that capital comes from. So governments circulate currency and then take it back through taxes, tariff, and the issuance of debt. Now both the US and China operate with massive levels of debt. Only ours is more obvious. US debt currently stands at about 125% of GDP with about a quarter of it held by foreign entities. In China, the debt to GDP ratio is anywhere between 90% and 300% depending on who how you measure it and who you believe. Also, it's all internal. It's very difficult to purchase Chinese debt instruments. And so I bring this up because the way the US government is funded is through the sale of our treasuries, our dollars. So we too collect taxes domestically and we issue tariffs now on imports like never before to raise money. But the supply of dollars and the primary mechanism for funding the government is by selling treasury bonds into the global marketplace. So that's one major way that we take in dollars. But there's a cost to it. We have to pay interest on it. And that's what's referred to as a treasury yield. So, for example, we just held a $25 billion auction for our 30-year treasuries, and we'll use the proceeds of that to fund the government. So, believe it or not, this is actually a competitive advantage for us. So, even though we're paying people interest when they purchase our treasuries, it's still a competitive advantage because it keeps our dollars in wide circulation. This is the so-called exorbitant privilege that they speak of in being the world's reserve currency. The reason there's a never-ending appetite for US debt is because it's the only way to get dollars and the dollar is the universal currency of the business world. This the world needs this to do business whether it's with us or without us.
So now imagine that this isn't necessary. Imagine that there was another proxy for value that everyone understood, that everyone accepted and everyone used. Such a thing would have to be stable in value like the dollar. It would have to be fast and cheap and easy to transmit as well. Something that every bank and every system recognized as a store of value just like the dollar. And that, my friends, is a stable coin. So right now there are two major stable coins in circulation. and the only thing holding them back is adoption. So in other words, you having that stable coin in your digital wallet on your phone and the fast food joint knowing how to accept it. So now hold that thought for a second. The two major players are Tether USDT, which is the market leader and a privately held company, and Circle USDC, which is the second largest and a publicly traded company. So, Tether has an annual projected transaction volume of $27 trillion. Circle is around 6 trillion. So, let me give you a couple comparisons to put these figures in context. Global transactions involving the dollar are around 1,600 trillion or 1.6 quadrillion annually. So, the dollar will be the center of as much volume every day as Circle is in an entire year. Now, the stable coin that we're focused on today, however, is one called USD1, owned by World Liberty Financial. And the volume on this stable coin is projected to be less than a billion dollars in 2025. So, nowhere near Circle and miles behind Tether. But there's a catch. There's a catch to all three coins that shows why the dollar itself remains and will remain the heavyweight champion. Whether you're settling a transaction in Tether's USDT, Circle's USDC, or World Liberty Financial's USD1, you're still using the dollar. Confused? Don't worry about it. It'll all make sense in a minute.
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Let's go back really quickly to 1944. The world's economy was a heaping pile of [ __ ] for more than a decade. And then everyone went to war again. Needless to say, confidence a little low. The losing countries obliterated whatever was left of their economies, and the winning ones weren't much better off. So, the leading economic minds of the Allied powers gathered in Bretonwoods, New Hampshire, under the watchful eye of John Maynard Kanes, and they devised a new global monetary order with the dollar at the center of it all. Prior to this period, nations had to hold physical stores of gold to back their currency. So as the depression and World War II were on though stores were depleted because the wartime economies and the economic recovery efforts were larger than the gold deposits. So to rebuild we needed a new system that allowed for more currency in the world and thus the dollar reserve was established. Now going forward the US dollar would be issued in exponential quantities but tied to a set value of gold. So the US sold dollars to the rest of the world with the promise of fixed interest rates which filled US coffers and provided liquidity across the globe. International monetary monetary organizations were established to provide low-interest loans to countries with no cash so that they too could purchase dollars and thus began the greatest economic expansion in the history of the world with the US dollar powering it every step of the way. But recall our example of how dollars are purchased and all of the layers and the mechanisms required to move them from the US Treasury to central banks of other countries. These central banks then loan these funds to commercial banks or retail banks that loan them to businesses and citizens in those countries. Middlemen everywhere up and down the chain.
So when we talk about stable coins, it's important to understand that these coins aren't replacing the dollars themselves. They represent the dollars. What they're replacing are those intermediaries. This means that stable coins themselves are another layer on top, but that layer collapses those layers beneath it. So no business or bank in their right minds though would use that coin if it didn't have intrinsic value. That's why Bitcoin isn't the world reserve currency as some of the original decentralized libertarians hoped it that it would be. Stable coins are backed by the US dollar or at least the ones that are most in circulation like USDT and USDC. They achieve this by actually purchasing US dollars in the same way that the ECB or the Bank of Japan would purchase these dollars in one of our Treasury auctions. So this is the part that I think most casual observers miss about the financial architecture of the proposed global stablecoin system. There are two reasons why some banks and multinational corporations trust USDT and USDC and will settle transactions already today in these in these currencies. The first is that they're backed by the dollar one to one. meaning that every USDT, for example, has the same value as the dollar. Same for USDC. It's a one-to-one relationship. And that's because for every Tether or every Circle Coin minted, they purchase a dollar from the Treasury. And it's one of the reasons that the Trump administration is so keen to ex to expand stable coin adoption. So to put this in perspective, stable coins altogether now represent the 17th largest buyer of US treasuries. That's more than countries like Germany and Saudi Arabia. So just like dollars used to have the equivalent of gold in a reserve. These stable coins have to have the equivalent absolute number of US dollars. Now the second reason is the security and the maturity of the platforms that these stable coins exist on. So over the years crypto technology has been a little volatile to say the least. Theft, money laundering, bank runs, hacks. So until recently it was a pretty hefty gamble to park huge sums of money on crypto exchanges. But that's all changing very quickly and the stable coin platforms are now gaining wide acceptance due to more robust regulations, transparency and architecture. So again, the reason why stable coins are gaining momentum is because they are secured by actual dollars and the tech is solid and trustworthy.
So with that under our belts, we can reveal how the Trump family is positioning itself to be the world's central bank and to loot the US Treasury.
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Bringing money into the world is the domain of central banks and that money flows to retail and commercial banks to put into the real economy. Citizens then receive it through wages and we pay some of these wages to goods and services providers and that's how the world keeps turning. But when central banks make that money, they don't just give it away. They sell it to the marketplace at a slight premium over the cost of producing the currency. So a few cents for every note in circulation. That's the first way that central banks receive income. the much larger portion like in the United States approximately 95% of the Federal Reserve revenue comes from interest on the money that they hold. See, not every dollar goes into circulation at the commercial and retail level. The Fed will actually hold back money for reserves to ensure that it can stand in as the lender of last resort during a liquidity crisis to ensure that the government always has cash on hand. These reserves are then returned to the government in a way by purchasing US securities and US treasuries along with other marketable securities. So it's like a guaranteed return on the creation of dollars. And it sounds funny to explain it this way because we're basically lending money to ourselves and then paying ourselves back the interest. But this revenue model is called seniorage. It's a term used exclusively to describe how central banks make money.
So with that under our belts, let's go back to the stable coin market. Like physical dollars, stable coins are invented out of thin air. So before 1944, a dollar was tied directly to gold in a one-to-one relationship. Then from 44 to 1971, the dollar was still tied to the value of gold, but it was allowed to grow beyond the physical store through leverage. After 1971 was no longer tied to gold. It was set free. It was allowed to float freely based upon the inherent strength of the US economy. In other words, tied to the faith in our ability and our willingness to pay back those who purchased our dollars with an interest rate determined by the market. Okay. So because of all the layers though between the the time that currency is minted and eventually finds its way into the economy, the process is laden with friction with delays and expenses. Now that being said, the process is also extremely mature. It's stable and reliable, so we've dealt with it for like 80 years. Stable coins seek to disrupt the market by smoothing out the process and eliminating that friction. eliminating the delays and the expenses. To truly disrupt the global system, however, it needs two things. Stable and predictable value and reliable convertability. Overthrowing a system that the entire global economy was built on doesn't happen overnight because everyone up and down that chain that we described before, the central bank, commercial bank, retail bank, businesses and citizens, merchants and customers, everyone needs to trust that a digital replacement is stable, predictable, and reliable, and they have to be able to access it.
So Tether and Circle among others had to first build out a reliable and transparent blockchain network that reduces fraud, prevents hacking, provides transparency, offers liquidity, and can be easily adopted by counterparties. So judging by the fact that trillions of dollars are now flowing through their exchanges, the industry is warming to the idea and it's giving them a green light. Now the second thing they had to do was provide certainty that they were backed by something solid just like when the dollar was pegged to gold. And since the dollar is considered as stable as gold in the modern era these early entrance recognize the value in a one-to-$1 peg that's why bitcoin isn't the preferred trading and settlement asset in this scenario. Now the value of tether or circle however is exactly $1. For every stable coin minted, these companies will buy a dollar from the US Treasury and hold it in reserve. Now, even still, that's not enough to prevent a run on the stable coin market. So, these companies also have to build up liquid reserves in addition to that, which takes time.
Now, setting that aside, let's go back to our senior model. Because if stable coins represent tradable currency in the global marketplace, then that makes the stable coin issuers de facto central banks. Now, the same revenue rules apply to these companies as do the central banks. So, they purchase dollars from the treasury and then they sell them to banks or companies or individuals to use as currency. And they too take a couple of cents from every stable coin that's minted and sold into the wider economy. And like central banks, when users purchase the digital coins, they take a portion of the proceeds and invest them into other marketable securities. So right there, that's three ways of making money. They have the small cut from minting the coin, the return on investment from the US Treasury when they purchase actual dollars, and the returns from anything above the fully securitized amount of stable coins in the market that were invested into other assets.
Now, let's bring our orange protagonist into the equation. The Trump family owns 40% of World Liberty Financial, which holds the Trump memecoin, a convertible digital token, an exchange infrastructure, and a stable coin called USD1. Now, earlier in 2025, you might recall that when Trump was pressing his personal interest in the Middle East and picking up airplanes and stuff like that, there was an investment made through an Abu Dhabi government fund for $2 billion. So this otherwise banal investment made headlines because the deal was done with USD1 stable coins. World Liberty Financial also received a $100 million investment from Aqua 1 Foundation, an entity that appears to exist nowhere, just as a website that was registered on May 28th this year with no corporate registration or official filings discoverable in any public databases. So, with a hundred million investment from an opaque source and a $2 billion investment into stable coins, the Trump family stable coin suddenly became the fastest growing stable coin in the world. Even though it is still dwarfed by Tether and Circle, this was a substantial head start. Now, the Aqua 1 investment is on top of investments from the Trump family itself and some other investors who got the platform off the ground. And since that time, they've been racing to build out the platform to allow for more transactions to flow using USD1.
And now for the really shady [ __ ]. The fact that the Abu Dhabi deal enriched the Trump family directly should have been enough to shut all of this down. That investment alone is said to have netted the family $57 million. The hundred million investment from an unknown source should have also been enough. And to show you how quickly the return on investment compounds through senior and market cap valuations, the Trump family stake in crypto ventures is already estimated to be around 4 and a half billion and they've literally just begun.
Now, the infrastructure for the World Liberty Financial Platform is said to have been built with significant support from the engineers at Binance, a company that originated in China, but even China threw them out. So its founder Changpen Jiao simply known as CZ was sentenced to prison in the United States for facilitating money laundering on the platform in 2024. So despite being barred from China and forced to step down from his position to serve the sentence in the US, CZ is still one of the wealthiest people in the world with an estimated net worth of $70 billion. Now he's currently seeking a pardon from the Trump administration. And I wonder how that's going to go.
Now, it's also worth noting that the $2 billion investment from Abu Dhabi was funneled through Binance. Recently, World Liberty Financial also announced a restructuring and partnership with a technology provider called Alt 5 Sigma. And there's about as much chest thumping in bro talk as one might imagine with a name like that. But it's an interesting move and it might give a keen competitive advantage to the Trump family because their technology allows its stablecoin to enter the retail space. Remember that last piece of connective tissue that we talked about, the thing that stable coins require to increase adoption, transmission capability, and acceptance. Alt 5 Sigma is actually a respected platform with existing payment rails and integrations with banks and merchants alike. So, think about how credit card companies work for decades to get their point of sale systems into merchants and plastic cards into customers hands. literally decades to gain full market exposure so that customers know that they can pay for just about anything anywhere with a credit card. Now imagine all of that happening on your phone cuz that's where your wallet is. That's where your money is stored. When every merchant in the world enables payments from phone wallets, then the race is no longer about plastic in people's hands and swipe terminals. It's about choosing your preferred payment coin. And that's where the race between PayPal, Tether, Circle, and a thousand others, and now Eric Trump, this stupid face of the Trump family, really exists.
So now, check this out. One of World Liberty's top investors is Justin Sun, a billionaire based in Hong Kong. He appeared at the crypto summit along with Eric Trump and World Liberty Financial Zack Witoff while the Trump administration raged at China over trade and even called on the CEO of Intel to resign because of past connections with China. Another reason USD1 is said to have gained surprising traction on crypto trading platforms is because of a relationship with a murky distribution exchange called Pancake Swap. Stupid name aside, according to the Wall Street Journal, Pancake Swap was birthed by Binance engineers and has quote remained under Binance's supervision. Now, the article goes on to say that quote, "Starting in late May 2025, USD1 trading exploded on Pancake Swap, rocketing from a few tens of millions of dollars a day to regularly over 1 billion. Over 90% of USD1 trades have taken place on Pancake Swap, according to data from the platform and data tracker, Coin Market Cap." End quote. The combination of opaque investors pouring billions into World Liberty Financial and its USD1 stable coin, Pancake Swap providing a market for USD1 growth in circulation, and Alt 5 Sigma's ability to connect it with the banking, commercial, and retail merchant world means that the Trump family stable coin has every piece in place.
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The idea behind crypto exchanges was based on Friedrich Hayek's vision of disintermediated financial markets. Essentially stripping global money supply responsibilities from governments and putting purchasing power and financial freedom into the hands of the people. Now, of course, the powers that be aren't about to be sidelined, and that's why crypto markets have evolved and matured into highly regulated marketplaces controlled by central banks. At the end of the day, now that's not to say that there aren't individuals and institutions making ungodly fortunes from it all. This is after all still being built within a global capitalist system. But a tension remains between those who want to set money free, the governments who seek to retain control, and the capitalists looking to profit from both sides of it. The Trump family sits firmly in that third camp. Donald Trump shouldn't be allowed to own a global stable coin and cryptocurrency enterprise that profits from the money supply. That much is obvious.
But here's where everything about his presidency, his character, and complete takeover of American institutions comes together in a single narrative. The world is running out of confidence in the US government's ability to manage its debts. And we know this because the premium on our Treasury auctions is going up. Meaning the world is increasingly viewing us as a risk. The world's rating agencies have all downgraded US debt. The One Big Beautiful Act is going to dramatically weaken our economy through tax cuts, draconian entitlement cuts, general recklessness, and deregulation. Even the original CBO estimates of an additional $3.4 trillion in deficits over the next 10 years are outdated already given the increasing risks associated with our treasuries. In other words, it's even more expensive to service our debt because people view us as a risk than the CBO projected a couple of months ago. And the tariffs, which are already showing up in the inflation data, are going to choke the bottom half of consumers in this country within the year. This is a death spiral. So, we're going to have to keep the money train on the rails somehow. And one of the avenues that the administration is banking on to shore up the US Treasury market is through stable coins. See, the greater the adoption of stable coins that use the US dollar as the reserve currency, the greater the purchase of treasuries. But if you think about it, it's really just a one for one. So instead of central banks and multinational corporations purchasing treasuries directly, they're just using stable coins as a proxy. So it's the same thing except all the benefits of seniorage that used to flow to central banks will go directly into private hands. So on the one hand, the disintermediation of middlemen means that money will flow more seamlessly with fewer costs associated with them. On the other hand, it's going to move central bank profits to the private sector.
Now, here's where the picture gets even murkier and how Trump is a singular figure in the world when it comes to the potential to profit off money supply. See, Donald Trump isn't some crypto cowboy. He's in charge of the world's largest economy for another 3 years if he leaves. And in just the first few months of his administration, he's been given a blank check from the Supreme Court to pretty much evade every rule, every law or norm associated with the office of the presidency. So he's clear to pursue personal gain without fear of running a foul of US regulations or the emoluments clause of the constitution. His GOP controlled House of Representatives passed three crypto bills that clear the way for greater stable coin adoption and trading in the United States with counterparties abroad. Only the first of the three, called the Genius Act, has actually passed the Senate as well, while the other two are in committee being marked up. So, the Genius Act moved oversight of stable coins to the Treasury, which is controlled by Trump as opposed to the Fed, which is independent. So, that's done. The second bill, known as the Clarity Act, gives more regulatory authority to all crypto businesses to the business-friendly CFTC instead of the SEC. Now, it passed the House with bipartisan support, which is awful because the CFTC is notoriously lax. We have them to thank for past crises like the speculative oil shocks, the Enron scandal, and the um oh god, what was that? Oh yeah, that's right. the global financial crisis. If you want to build a system with an enormous bubble filled with wild speculation untethered from reality that puts the entire financial system at risk, give it to the CFTC. So, this one is still pending in the Senate and looks more likely to pass, but it shouldn't. The third one is the most dangerous. It's called the Anti-CBDC Surveillance State Act. So, even Democrats in the House were like, "Oh, hell no." At any rate, this third bill prohibits the Federal Reserve from issuing a retail central bank currency. In other words, our Fed can't have its own stable coin for the global market to use. Now, the Fed has a digital currency and digital ledger system that moves money to and from American banks, but this bill would foreclose on the option for the United States to develop a currency like the ECNY in China that is in wide circulation and adopted by banks, corporations, merchants, and consumers. So, if our central bank, the Federal Reserve, can't participate in the issuance or the distribution or growth of its own minted stable coin, then who's going to have the Oh, yep. You got it now.
So, let's put it all in order. The Genius Act puts oversight of stable coins with the US Treasury, controlled for the next 3 years by Donald Trump. The Clarity Act gives regulatory authority to the CFTC, which is far more friendly to speculative behavior than the highly regulated SEC. The CBDC Act gives private companies the complete authority to build and mature the stable coin market. And right now, stable coins are the 17th largest buyer of US Treasury bonds in the world, as we mentioned, which means the US Treasury has to pay interest on these purchases to these private companies. So, let's put it all together in plain English. Assuming the second and third bills pass the Senate, here's what we're looking at. Trump is in charge of the country and he owns a stable coin company. He's in charge of the authority that determines which stable coins can be used to purchase US treasuries. He appoints the chair of the body that oversees stable coin regulations. By the time Trump is supposed to leave office, the Kansas City Fed projects that 10 to 15% of all outstanding US short-term debt will be held by stable coin issuers. This is around $2 trillion, though some estimates project that it could be much higher. Back of the napkin, math time. Right now, the market cap for stable coins is around $230 billion, and by the time Trump leaves office, it's projected to be 2 trillion. Right now, Trump's holdings are valued at around $4.5 billion dollars. All things being equal, it would be 45 billion by the time he leaves office. And that's assuming that nothing changes with respect to the market positions between Tether, Circle, and USD1. So, right now, Tether has the hottest hands with Circle as a distant second, and Trump's World Liberty Financial is a rounding error at a very distant third. But let me ask you this. Are you gonna bet against the guy in charge of every single governing body in control of which company gets access to the biggest marketplace on the planet?
And here's the kicker. Even though funding for USD1 and World Liberty Financial comes from undisclosed sources from Chinese billionaires and other nefarious characters, the tech itself might be good. So, if Trump clears a path for USD1 to become the dominant player in the stable coin market or even just a comparable third alternative with Circle and Tether, it could become one of the largest buyers of US treasuries. Now, get this. Making money on almost every dollar printed would be pretty amazing in and of itself. But let's pretend for a minute you're super tan and have no scruples. Just imagine it. and you're that person in charge of everything. The way to really make money would be if the US needed more and more money every day. And it would be even better if the interest payment on that money was higher and higher all the time. For for that to happen, you would have to, let's see, run up massive deficits and have economies so unstable that it drives yields due to risk. So, as this unscrupulous person in charge of everything, your top incentives would be to run up massive deficits and make people lose faith in the US economy. And that's how I met your mother. There uh that's how Trump is laying the groundwork to loot the US Treasury.
Now, trust me when I tell you that there are very powerful people in this country who do see this coming. The last two of the three bills are sitting in committee in the Senate for a reason. But everyone in the administration from Nutlick to Bessant have already sold their souls. The tech CEOs sold theirs a long time ago. And even some of the heavies in the financial industry are aware, but they're turning a blind eye because they're all pretty heavily invested in crypto. And the media apparently have no idea what the [ __ ] is going on because no one is talking about it.
Now, there are some elements of this administration and even this crypto scheme that are unstoppable. But Trump becoming the richest man by looting the Treasury isn't one of them. These two bills have to die in the Senate. Yes, we need to kick out Republicans in the midterms and take the country back in 2028, but this is a [ __ ] emergency. We have two weeks on [ __ ] Two weeks to convince every Democratic senator to vote against these bills and to flip a few Republicans as well. And look, we've done a lot of things together over the past few years. We created [ __ ] Milton Freriedman day. We built out hives to promote our five non-negotiables. We created community gathering spaces on social media and Discord. And the one question I always get is what do we do now? And it's a tough question that I've wrestled with because I see my role as chronicler and educator driving the lane to help unravel socioeconomic mysteries because I believe that change starts with awareness. But I'm not a grassroots organizer to be sure. I mean, I just spent a few days in New Orleans at the Netroots conference, surrounded by actual organizers and activists who do the real work on the ground. These are the true champions, but I have a particular sense of urgency with this topic because I think it's widely misunderstood and criminally under reported as a result. So, we have a change.org petition that I'll link in the notes. And my hope is that you'll be moved to join the effort and sign the petition to convince our senators that our democracy and our economic futures aren't for sale. So hopefully I've made the case more clearly today in the p than I have in the past. And I intend to stay on this one because I think it's shaping up to be one of the biggest financial scandals in history. Only one that's wholly preventable with mass awareness and pressure campaigns.
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This is the story of a political pundit who looked at the world around him and just said, "Fuck it." gives the middle finger to authority and says, "Kiss my ass." But instead of a revolution, he started a podcast. Just what the world started a podcast.
Another basic white guy who started a podcast. But it's fun because he curses all through the podcast. I'm [ __ ] the Republic podcast.
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