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Economy

CincyDem

(7,163 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 2025

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 2025 OP

I can't see any difference between crypto and tulip bulbs. multigraincracker Mar 2025 #1

It's worse than tulip bulbs. At least there WERE tulip bulbs jmbar2 Mar 2025 #5

This message was self-deleted by its author Person of Interest Mar 2025 #15

Tulip bulbs have REAL value!! Person of Interest Mar 2025 #16

As do Beanie Babies Seinan Sensei Mar 2025 #19

At least you can tip toe through them. Historic NY Mar 2025 #23

Dumbest idea yet C_U_L8R Mar 2025 #2

Or just plain theft johnnyfins Mar 2025 #17

Is there any part of the United States government and principles that Trump doesn't want to rape and leave dying? Walleye Mar 2025 #3

Keep your grubby hands off our nation's gold OrlandoDem2 Mar 2025 #4

Trump is only interested if there is a big personal benefit to him. Irish_Dem Mar 2025 #6

This is beyond Trump - he was just the keyholder jmbar2 Mar 2025 #7

Yes, but Trump only agreed to do it for a cut of profits. Irish_Dem Mar 2025 #9

Yup! Botany Mar 2025 #10

Trump knows exactly what he's doing...he was convicted of doing the same thing in NY but with real estate. CincyDem Mar 2025 #14

I had forgotten about that - exactly what he's doing. jmbar2 Mar 2025 #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 2025 #22

I admit my ignorance Raven123 Mar 2025 #8

Worse than Enron. Baitball Blogger Mar 2025 #11

Chris Hayes did a decent piece on this. Snarkoleptic Mar 2025 #12

Thanks - I missed that jmbar2 Mar 2025 #13

And some say Social Security dweller Mar 2025 #27

He fucks up everything; and he is an expert at it. twodogsbarking Mar 2025 #18

Where are our laws & those that enforce them??!!! NotHardly Mar 2025 #20

Tell him to buy Californium.... Historic NY Mar 2025 #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 2025 #25

I KNEW THEY WENT THERE TO STEAL IT. That's precisely what they are doing. Nt CousinIT Mar 2025 #26