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Yep, crypto is just the vehicle for the laundering in the short term. However, once he starts putting US Reserves and assets into this crypto-backed fund, it becomes amazingly easy for the same oligarchs to pull the same rug pull that Donnie just did to MAGA - except it will be with our tax dollars, and it will be damn near untraceable depending on which crypto they're using (Monero, anyone?)
I agree with your wider analysis, but I think it goes further than just seizing assets and creating a soft landing point for Russian oligarchs. That was last decade. I think this is far worse.
Looking at a long term economic outlook, it appears to be an inside attack on our monetary system to try and displace the US as a reserve currency. The dollar is strong because it hasn't had a real rug pull since 1929. Trump's already speedrunning Hoover's presidency, and that plays right into Russian, Chinese, and Saudi hands.
See that's where America's real power lies - not in its military, or its resources. It lies in the dollar, because it's a symbol of stability and trust. Break that trust, and there's an opportunity to gain control of how the world does business. If the dollar collapses, America's power collapses.
And right now, there's a whole lot of people rooting for America to collapse. Trump even campaigned on it.
I think this is the long gamble by China and their soft support of Russia. If the dollar goes, that gives the RMB an enormous opening to become the reserve currency of choice. Because in times of transition, money flows towards stability, and China is looking rock solid in comparison to the EU and US.
For us little folks in the short term, be ready for big inflationary swings. Might be a good time to start buying gold.
EDIT - This popped up on my feed immediately after posting this comment - kinda hilarious in a "holy shit we're all going to hell so might as well enjoy the fireworks" kinda way:
SEC Drops charges against Chinese billionaire after he pumps $30 million into Trump's crypto scheme.
There it is folks, pay for play. We're so fucking fucked.
I mean, not that I'm OK with any of this. But Trump said he's not willing to commit to defending Taiwan a few days ago. If Taiwan is on the table, god knows how much money China will be willing to shower on to him and USA. His insane plan might work for a few years while he's in office. He's willing to sell what no one else ever was and damn the longterm consequences.
But as an American, he might just be stealing the money to keep America afloat for his term, so I guess that's nice?
Buy some gold, or eat next week. Decisions, decisions.
Good point. It might be wiser to invest in gardening supplies, backyard chickens, and a set of emergency camping gear in case of unexpected homelessness during the anticipated Kristallnacht 2, American Boogaloo.
Transitioning to some level of self sufficiency is always a good idea, and can be done gradually. It's a deep dive though, and disturbing to find how dependent most of us really are on a functional society.
Agreed. Networking with your community can in many cases solve this problem however. If you pick up one skill and your neighbors do too, you can do many types of things for each other and all needs have a chance at being met. I have been: looking for existing networks and working with them while also making changes in my personal life and talking to everyone I can about what can be done to prepare and considerations for such preparations, such as buying radios or building a mesh network for communication; stocking up on staples such as rice, beans, flour, water, etc. when possible; learning about how I am perpetuating harm and working with others (professionals such as a therapist as well as people I'm in community with) to end that perpetuation of harm step by step; focusing on finding solutions and getting everyone's needs met instead of winning arguments; and more. It's not going to be easy and I know what I do isn't accessible to every single person, but the point is that we can build something better, that works better for more of us (ultimately all of us hopefully).
If you can't eat the gold then I would not bother buying it.