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Economy

CincyDem

(7,070 posts)

14. Trump knows exactly what he's doing...he was convicted of doing the same thing in NY but with real estate.

Reply to Botany (Reply #10)

Mon Mar 3, 2025, 10:18 AM

Mar 3

Inflate the value of an asset.
Borrow against that value.
Line his pockets with the borrowed money.
Refuse to repay the loan, surrender the asset to the lender.
Stick the lender with the job of liquidating the asset for fair market value.
Buy another (more expensive) asset at fair market value with the borrowed money.
Inflate the value of the asset….go back to step 1.

Wash, rinse, repeat.

The term Ponzi Scheme is named after Charles Ponzi, a 1920’s Italian money manager who created the scam.

100 years from now, the term Trump Scheme will describe this scam

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LaRaven wave_maker Zackzzzz

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Highlight:

Trump/Musk want to "revalue" Ft. Knox gold to buy crypto for the "Sovereign Wealth Fund" [View all] jmbar2 Mar 3 OP

I can't see any difference between crypto and tulip bulbs. multigraincracker Mar 3 #1

It's worse than tulip bulbs. At least there WERE tulip bulbs jmbar2 Mar 3 #5

This message was self-deleted by its author Person of Interest Mar 3 #15

Tulip bulbs have REAL value!! Person of Interest Mar 3 #16

As do Beanie Babies Seinan Sensei Mar 3 #19

At least you can tip toe through them. Historic NY Mar 3 #23

Dumbest idea yet C_U_L8R Mar 3 #2

Or just plain theft johnnyfins Mar 3 #17

Is there any part of the United States government and principles that Trump doesn't want to rape and leave dying? Walleye Mar 3 #3

Keep your grubby hands off our nation's gold OrlandoDem2 Mar 3 #4

Trump is only interested if there is a big personal benefit to him. Irish_Dem Mar 3 #6

This is beyond Trump - he was just the keyholder jmbar2 Mar 3 #7

Yes, but Trump only agreed to do it for a cut of profits. Irish_Dem Mar 3 #9

Yup! Botany Mar 3 #10

Trump knows exactly what he's doing...he was convicted of doing the same thing in NY but with real estate. CincyDem Mar 3 #14

I had forgotten about that - exactly what he's doing. jmbar2 Mar 3 #21

Yep - when ya do it with stocks (or crypto) it's called "pump & dump"...and Trump's plan is for us to get the dump part. CincyDem Mar 3 #22

I admit my ignorance Raven123 Mar 3 #8

Worse than Enron. Baitball Blogger Mar 3 #11

Chris Hayes did a decent piece on this. Snarkoleptic Mar 3 #12

Thanks - I missed that jmbar2 Mar 3 #13

And some say Social Security dweller Mar 3 #27

He fucks up everything; and he is an expert at it. twodogsbarking Mar 3 #18

Where are our laws & those that enforce them??!!! NotHardly Mar 3 #20

Tell him to buy Californium.... Historic NY Mar 3 #24

Red states don't want crypto reserve. Their govs tried to get one of their own going and it's gone nowhere. . . . nt Bernardo de La Paz Mar 3 #25

I KNEW THEY WENT THERE TO STEAL IT. That's precisely what they are doing. Nt CousinIT Mar 3 #26

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