Transcription
Hello everyone,
In just a few hours, Trump will be inaugurated. I want to talk about some things before he takes office, and even more shocking events that I never expected, like the introduction of Trump Coin. This is a cryptocurrency called "Mimi," which shares the same name as us.
First, let me summarize. Due to the cold weather, we have moved indoors, and it has turned into an inauguration event with hundreds of guests. All the tech giants are attending, including TikTok's Zhou Shouzi. All former presidents are there, except for the current president and first lady, and notably, Michelle Obama is not attending.
Trump has declared that on his first day in office, he will abolish every single one of Biden's stupid and ineffective executive orders. He is expected to issue around 200 executive orders. This time, he emphasizes the expulsion of illegal immigrants. He says he will launch a century-long campaign to remove illegal immigrants.
First, he will classify drug cartels as terrorist organizations and use emergency powers to seal the U.S.-Mexico border. If he believes Mexico is not doing enough, he will arrest millions of illegal immigrants.
Now, let me share my perspective. How many illegal immigrants are estimated to be in the U.S.? About 11 million. The U.S. population is around 340 million, meaning approximately 3% of the public consists of illegal immigrants.
Among these individuals, how many have criminal records? About 500,000. It is not easy to track down these illegal immigrants within the U.S., especially since California and New York are sanctuary states. Sanctuary states do not mean illegal immigrants can become legal; they simply do not pursue illegal immigrants. Local officials will not help identify illegal immigrants. For example, when people go to apply for social security or enroll their children in school, they will not identify who is illegal.
The difference is that the Labor Department can apprehend illegal immigrants, but local officials do not assist in this matter, making it quite difficult.
Lastly, I want to mention that Canada claims it will retaliate. Will Donald Trump announce a 25% tariff on Canada and Mexico on his first day? He has not emphasized this; instead, he is focusing on expelling illegal immigrants.
He initially mentioned a 60% tariff on China but later said it would be 10%. I will discuss in another video about Han Zheng's visit to meet Donald Trump and China's attitude towards the Trump administration. However, Trump has stated he will visit China within 100 days. I previously misread this; he will meet with Xi Jinping. China feels hopeful about this, and I will talk more about U.S.-China relations later.
Now, let’s talk about the cryptocurrency Trump is launching, the Mimi Coin. He is issuing 200 million coins, with a total of one billion that can be issued. Next year, he will release an additional 20 million coins each month. Therefore, within a few years, he will have issued one billion coins. His two companies, LL Digital and CC Digital, along with Fight Fight Fight, hold 80% of these coins.
Let’s do some calculations. There are two issues here. First, the president should not engage in any business activities due to potential conflicts of interest. He claims his company’s issuance is not his concern because he has handed over the business to his sons. He did this during his first term, so he says it’s not his issue. However, the company will prosper. Is there a conflict of interest? You can decide for yourselves.
How much does it cost to issue his currency? It’s 0.0186. If we consider one billion shares, that’s over 100 million. But when it skyrocketed, it increased by over a thousand percent. At its peak, it reached over $70.
If it reaches $70 per coin, that would mean a valuation of over $780 billion. This would add $60 billion to his net worth. Of course, this is just on paper. If the coin reaches $150, he would become the richest person in the world. If it hits $200, he would surpass Elon Musk. But this is all theoretical.
The interesting part is that when the currency peaked at around $75 or $76, his wife introduced a coin called the First Lady Coin. As soon as people heard about this coin, some started buying it, causing his coin's value to drop back to the $30 range.
So, the $780 billion is just on paper. His net worth then dropped to around $380 billion. He still has about $200 billion left. However, if his wife’s coin also has value, I don’t know how much that would be worth.
His two sons are also involved in cryptocurrency. Before Trump took office, he said he would strongly promote cryptocurrency to make the U.S. the center of cryptocurrency. One way to do this is by issuing his own cryptocurrency.
I want to ask everyone: do you think this creates a conflict of interest? Does a family using the president's image to amass wealth seem reasonable? I won’t answer this question; I’ll leave it for you to consider.