Trump has now lost his weird, weirder and weirdest mind. He is embracing "Crypto currency" and will turn The USA into a "Bitcoin Superpower". This is after not so long ago he condemned cryptocurrency as a scam. Oops, but then the crypto currency owners needed him to suck up to their generous donations to his campaign!!
Brazenly flip-flopping, Trump adds crypto to his MAGA agenda
Donald Trump has a habit of flip-flopping after meeting with wealthy potential donors. Take his approach to cryptocurrencies, for example.
Donald Trump tends to use vague language when talking about things he doesn’t understand, but when talking about cryptocurrencies, the Republican was willing to be specific. As regular readers
know, the former president has
called them a “disaster waiting to happen,” adding that as far as he was concerned, Bitcoin seemed “like a scam.”
When it came to crypto, Trump said he was “
not a fan,”
adding, “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.” While in office, he
insisted that Bitcoin is “not money” and criticized it as “highly volatile and based on thin air.”
And then the evolution started.
Ahead of an appearance at the
Libertarian Party’s national convention, the GOP nominee
declared online in May that he was suddenly “VERY POSITIVE AND OPEN MINDED” on the issue. Around the same time, the former president’s 2024 campaign announced that it would accept
donations in cryptocurrency.
Last month,
one day after Trump met with leaders of several Bitcoin mining companies at Mar-a-Lago, he published a pro-Bitcoin message to his social media platform
that he almost certainly didn’t write.
In case the flip-flop weren’t quite obvious enough, the Republican removed all doubt over the weekend. The New York Times
reported:
At times, the audience heard a disjointed message. As he wrapped up his remarks at the Bitcoin Conference in Nashville, for example,
Trump said, “Have a good time with your Bitcoin and your crypto and everything else that you’re playing with.”
The words of a man who’s given the subject considerable thought, to be sure.
Donald Trump has a habit of flip-flopping after meeting with wealthy potential donors. Take his approach to cryptocurrencies, for example.
www.msnbc.com
Earlier in his remarks, the candidate also
asked event attendees to thank him for stopping the Biden administration from doing terrible things to the crypto industry. How, exactly, is Trump standing in the Biden administration’s way? I have no idea, and Trump didn’t say.
Perhaps most notably from a policy perspective, the GOP nominee also vowed to create a “
national bitcoin stockpile“ for reasons unknown.
But with the election in mind, Trump also
told his audience that Vice President Kamala Harris intends to wage an “anti-crypto crusade,” as part of an attack against the industry from “left-wing fascists.”
What he neglected to say was, “Can you believe Harris is critical of crypto the same way I was before some wealthy donors encouraged me to change my mind?”
Indeed, Politico recently
published a report with a memorable headline: “Trump keeps flip-flopping his policy positions after meeting with rich people.”
Unfortunately, it’s happened quite a bit. For example, Trump supported banning TikTok, only to
reverse course after
chatting with Jeff Yass, a billionaire hedge fund manager — and prospective campaign donor — who has a multibillion-dollar stake in ByteDance, TikTok’s parent corporation. Something similar appears to have happened with the cryptocurrency industry.
Trump also started hedging on
some of his immigration policiesaround the time he met with wealthy corporate executives at a Business Roundtable meeting.
A few months earlier, Trump publicly suggested that conservatives should give up on their opposition to Anheuser-Busch
shortly before he attended a fundraiser hosted by an Anheuser-Busch lobbyist.
It’s tempting to see this as corruption, but it’s worth being more specific about what’s happened. Trump isn’t saying, “I’ll change my position in exchange for money,” he’s instead effectively saying, “Since I don’t care about governing or public policy anyway, I’ll just align my beliefs with my wealthy donors’ preferences.”
If recent history is any guide, it’s only a matter of time before this list grows.
Donald Trump has a habit of flip-flopping after meeting with wealthy potential donors. Take his approach to cryptocurrencies, for example.
www.msnbc.com
