Category Archives: Politics

Trump’s crypto playbook

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Donald Trump bankrupts everything he touches and that is a business fact– casinos, airlines, online universities, even football leagues have failed under his control. Then came reality TV, where Trump re-branded himself as a shark entrepreneur which helped him win the US Presidency in 2016. He lost in 2020, tried to overthrow the Constitution in 2021, then retreated to his Mar-a-Lago compound and hatched a new plan which included re-taking the Presidency & crypto.

Trump needed money during his inter-presidential years. He faced lawsuits of every type and was virtually bankrupt until he was once again bailed out, this time by his Truth Social IPO, which attracted billions from venture capitalists & hedge funds. Basically it was a ruling class tithe to Trump on his political future.

This is when Elon Musk became more & more tied to Trump. After buying Twitter, Musk allowed Trump back onto the platform which he had been banned since 1/6, which Trump then refused because he was now invested in Truth Social. Elon Musk was the primary economic force that rescued Trump from financial ruin after his electoral defeat in November 2020 to Joe Biden. That’s why he’s now Trump’s closest White House advisor.

Not coincidentally, Elon Musk, the largest bitcoin/crypto whale in the world, has turned Trump onto crypto. A bevy of legislative efforts are currently under way federally and in individual states meant to provide a regulatory framework that ensures no consumer protections while providing institutions federal bailout protections in case of industry insolvency. These are the purposes behind the GENIUS Act and other rubbish Libertarian nostrums currently being moved through both houses of Congress. The purpose of the Trump-Musk crypto campaign is to raid federal & state treasuries and replace their dollars with crypto. There is virtually no reporting or analysis of any of this in the mass media.

Meanwhile, SEC & FTC investigations & prosecutions into crypto criminality are being halted & abandoned as an economic policy of the Trump administration. Examples include:

Justin Sun, the Chinese-born crypto billionaire, inventor of the TRON crypto token and the USDD stablecoin. Justin Sun recently donated $75M in crypto tokens to World Liberty Financial (WLF)– Trump’s crypto platform. This made yet another SEC crypto investigation disappear, and WLF now owns huge stashes of TRON, etc. Take a look at this WLF portfolio screenshot:

Here’s an interesting reader comment I read on Yahoo: “Imagine if President Obama and his daughters were being funneled 75 million dollars from a Chinese national through crypto mined for and held in an account the Obama’s owned, so the Chinese national could have an SEC investigation in to his company scuttled. It would be on Fox News 24/7 and there’d be an immediate impeachment inquiry, likely with a few Dems on board. But when Trump does it it’s expected and tolerated. His diehards probably think it’s edgy and cool. The rest of the GOP is essentially complicit in this open crypto-corruption. It’s a pay to play admin and nobody will do anything about it. Notice how this story has zero traction.”

Recall that Justin Sun is the clown who bought a piece of “conceptual art” consisting of a banana duct-taped to a wall in late November 2024 and then ate the fruit a few days later. This “artwork” sensationally claimed to have sold for $6.2M, was paid for entirely in crypto, which was ridiculously overvalued then with bitcoin at ~$95K. So in crypto terms, Justin Sun paid 65.25 bitcoins for a duct-taped banana, not 6.2 million dollars as was widely reported. In terms of gauging the modern art market, 65 bitcoins is what a duct-taped banana is worth.

Gemini faced SEC allegations that the crypto firm offered and sold unregistered securities through its Gemini Earn program. In February, Cameron Winklevoss stated that the regulator had closed an investigation into a separate matter involving Gemini. Additionally, the company agreed in January to pay a wrist-slap $5M FTC penalty over “false and misleading” statements related to 2017 bitcoin futures contracts. Tyler & Cameron Winklevoss’ Gemini crypto exchange just opened a Miami office, as the lure of Florida for crypto companies is clearly linked to its ‘Wild West’ regulatory environment under Trump stooge governor Ron DeSantis, along with the absence of state income tax for residents. According to Bloomberg, Gemini filed confidentially for an IPO earlier this year.

Binance, is the largest crypto exchange in terms of daily trading volume. Binance was founded in 2017 by Changpeng Zhao, a software CEO who served four months in prison last year after pleading guilty to violating U.S. laws against money laundering at the world’s largest cryptocurrency exchange. “CZ” is still considered one of the most powerful players in crypto.

Coinbase was founded in 2012 by Brian Armstrong and is the largest U.S. based crypto exchange and biggest bitcoin custodian, holding 12% of the total supply. The SEC has agreed on February 27 to dismiss its lawsuit against Coinbase alleging that it was operating an unregistered exchange and facilitating the trading of unregistered securities. This signaled a major shift in US government policy on crypto.

David Sacks is Trump’s AI & crypto czar. Co-founder of Paypal, David Sacks has been a key figure in the tech industry for over two decades and is reportedly close with Elon Musk. Both Sacks & Musk surely helped Trump in taking over the crypto platform World Liberty Financial in 2024-25, finally getting the Donald a ‘respectable’ foothold in the crypto industry.

Everything in crypto now is moving towards stablecoins, which are tokens pegged to the dollar or some other currency at a 1:1 ratio. A recent Bank of International Settlements study of 60 stablecoins revealed they all lose their peg at some point, meaning they are the opposite of stable.

‘WLFI’ is Trump’s latest crypto token, and what is it worth you ask? Google AI has an answer: A World Liberty Financial (WLFI) crypto token is currently US $0.00000000000007093, with a 24-hour trading volume of $N/A. A Trump stablecoin (USD1) is in the works, with tokens to be minted on the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains– all owned & controlled by all DJT’s crypto cronies.

The Trump family gets 75% of net revenues from World Liberty Finance token sales, and WLF tokens are non-tradeable with holders not able to share in the profits. It’s the craziest disclosure agreement you would ever want to review, basically telling the buyer to “fuck off” after their money and/or crypto is transferred to WLF. Basically, the Trump empire will take whatever you want to trade in return for his worthless made-up crypto tokens.

What happens then? Since Trump was inaugurated, the TRUMP and MELANIA memecoins (Melania above) have lost 83% and 95% of their value, according to Coindesk. If you are looking for an indicator for which way things will go in crypto, Coindesk reported yesterday, “The TRUMP memecoin will undergo a major token unlock next week, with the team behind the project set to receive $320 million, around 20% of the circulating supply. The unlock might be another blow for the thousands of investors who reportedly lost a collective $2 billion after purchasing the token in January… Token unlocks are typically bearish events, as they involve flooding the market with fresh supply without providing incentives to drive demand.”

Apparently on April 9, Trump panicked and sold off large holdings of ETH at a huge loss just as his tariff hikes went into effect and as the financial markets were melting down. The Coindesk headline read: Trump-Backed World Liberty Financial Begins Selling ETH as Losses Top $125M– It sold ETH at $1,465 after buying it at $3,259. “Great time to buy,” was what Trump posted on Truth Social the day he was dumping ETH at a heavy loss. The next day (4/10), the Trump team denied their crypto dump publicly in order to restore investor confidence in crypto. What will the Trump position on crypto be tomorrow, who knows? It depends on which way the wind is blowing.

On February 5, 2025, Anthony Scaramucci, former Trump White House communications director tweeted, “Now anyone in world can essentially deposit money into the bank account of the President of the USA with a couple clicks. Every favor — geopolitical, corporate or personal — is now on sale, right out in the open.” The entire press media has resolutely declined to comment on this state of affairs.

The Senate Banking Committee is expected to soon mark up the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, a Republican-led bill co-sponsored by Sen. Kirsten Gillibrand (D-NY). Gillibrand has worked for years to push crypto-friendly legislation through Congress, and reportedly now has a critical mass of Democrats (bribed with millions from crypto PACs) ready to collaborate with the Trump White House.

Final thoughts: Crypto is the perfect vehicle for a billionaire mafia heist of treasury funds, 401K pensions, etc. Trump, Musk, Sacks and the rest of these crypto-criminals want everything for themselves and they now have the keys. This executive bourgeois criminality must be exposed & punished collectively by an organized international working class armed with a revolutionary socialist program. Historically speaking, crypto will be seen as the most extreme distortion of economic reality in late-stage capitalism. Materially speaking, most things that are fake actually had something real at some point, but completely bankrupt from its inception, crypto is unique in that it NEVER had any legitimate use value. To understand how & why we are where we are now is to understand crypto.

The half-baked Libertarians who contributed to the original bitcoin ‘white paper’ post-2008 crash have seen their de-centralized finance (de-fi) dream turn into a Trump regulatory money-making monopoly. Irony? Not really, these pseudo-revolutionary pencil-necks can’t see past next week– politically & economically speaking. This is the bitter end of a reality that began for the crypto industry when interest rates started going up after 10 years at near zero created an incubator for crypto. ‘De-fi communities’ once thrived online, spreading their bitcoin gospel incessantly on social media which became the primary grassroots driver for crypto legitimacy. Elizabeth Warren (D-MA) has reluctantly & all-too-late taken up the torch of liberal resistance in Congress, as she is about to be swallowed whole by crypto PAC money. Leading CIA Democrat Mark Warner is among those supporting Trump on crypto.

** Asterisk comments on the duct-taped banana Justin Sun purchased last fall. First, he ate the banana (not the original banana duct-taped to the wall because that one had rotted), but the question remains what did Justin Sun do with the duct-tape? He paid a lot of bitcoin for that, and there’s no mention of the duct-tape in the media reports I’ve surveyed. It’s all about a replacement banana and artistically speaking I can’t understand the duct-tape disconnect. Isn’t art supposed to be about the whole? Justin Sun has got a roll of duct-tape from which he can make a shitload of memecoins and what is he doing with it?

More importantly, does Sotheby’s accept bitcoin for their auctioneer fees? The actual sale price (in US dollars) was ~$5.2M, payable in crypto, which translated into 55 bitcoins. I suspect Sotheby’s doesn’t accept crypto for their cut, so the artist gets paid in bitcoin from the buyer, while the art house gets paid a million US dollars– a crystallization of capitalist art market economics.

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Wasting human capital

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Reuters/Markets headline: Treasuries, U.S. dollar sell off as Trump trade war drives recession fears

In Succession (2018-23) Logan, Kendall, Roman, Shiv & Conner constantly bounce stupid half-baked ideas back-and-forth, always choosing in the end to lean politically to the right towards fascism– and that’s how it ends up.

Two years later, we have in real life with the Trump administration the result of what was depicted in that HBO political drama series. In Succession, the 1%, and especially the 0.01% are clueless & impotent, back-filling their limitations with hysterics & rage. The power of money buys them everything, yet they still aren’t satisfied.

The most likable characters in Succession are the human throw-aways including: Tabitha, Jess, & (my favorite) Karolina. These minor characters are serious people who are intelligent & very good at what they do, but get no respect or love from those they dutifully serve. Without such talent, this parasite class would immediately shrivel up & die. These fictionalized conflicts wonderfully portrayed in Succession are actually real and are happening every day in all the institutions of bourgeois power.

Many of monied class don’t understand where money comes from at all, they simply perceive money as a divine right to be held by themselves. Inform them that money is a congealed expression of the value of human labor power, and the 1% gets hysterical and starts screaming for a fascist strongman.

It’s all very convenient for the puppet-masters of international finance & commerce. Their authority is never to be questioned, along with the 2-party political set-up and elite-biased court system. International law is ignored & attacked by US imperialism to further its predatory ambitions of world conquest and that’s how it is we are told. We are always fighting the evil Russians because of 1917, and we must submit because we are mere mortals compared to our demi-god leaders who are infallible.

The Frankfurt School of post-modernism provides the ideological justification for much of this propaganda, based on pre-fascist philosophers such as Friedrich Nietzsche in their writings on the “overman-superman”, etc, expressing an admiration for a strongman leader. German soldiers received copies of Nietzsche’s Thus Spoke Zarathustra as gifts during World War I, as a conscious attempt by the far right to divert the working masses from the Marxism of Lenin & Trotsky. The social Darwinism of ‘survival of the fittest’, Malthusianism depopulation, and the rest of this epoch’s pseudo-science are simply genocide-enabling bourgeois rationalizations.

Spinoza & Hegel are the philosophical & ideological influencers of Karl Marx. There is no ‘overman’ or ‘fuhrer principle’ with socialism, as that Nietzsche garbage belongs in the dustbin of history. What we currently have in the White House is a cabal of Nazis who think they can enslave the world and are determined to do so. The popular resistance they face is massive and unconquerable, yet the fascists insist on this fight to the death. The Democrats are aware and doing everything they can in their service of fascism to disarm & misdirect the working population.

The international youth & working class must organize itself independently from existing capitalist political forces, which are all lined-up for battle against the working masses. These hostile camps include the DSA & Greens, the union bureaucracies, and NGO’s/non-profits with their million ties to big business & the military-police state.

The police are of no help to the working masses, in fact they are brought in by criminal corporate & government officials to drive worker leaders out of the factories while arresting anti-genocide student protesters exercising their right to free speech on campus. I can’t remember the last time I heard of a real cop acting heroically, I suppose it happens, but I mostly read about police shooting & arresting people without cause and then being protected by the courts. I wonder why police abuse & terror and legal system corruption is never seriously discussed in the media? A lot of other people do to.

Deep in the Oval Office everyday, fascists are meeting and plotting their next attack on the population. Elon Musk & Stephen Miller appear to have the most influence over Trump at this point, which means anti-immigrant scapegoating, tariff wars & crypto. All these reactionary policies are implemented in a series of chaotic fits, then modified by unexplained zig-zags and walk-backs intended to placate political resistance until the death squads can take over. It’s remarkable to note that Biden-Harris had over a year to question Trump on all this during their election campaigns, but never seriously did so. Now the Democrats are acting surprised by Trump. For the rest of us, it’s like being forced to watch a hideously bad TV show every day.

A final word on acting: I’ve now seen Succession twice all the way through. It’s a beautifully done series on some really ugly issues and probably the best streaming content since House of Cards (2013-17). You certainly have to be in a certain mood to watch & appreciate it. Succession perfectly cast three amazing actors for extremely difficult roles in bringing humanity & likability to deeply-flawed characters in Jeremy Strong, Kieran Culkin & Sarah Snook. Succession viewers takes turns hating Kendall, Roman & Shiv, while fitting in touching human drama involving the human capital they are wasting & abusing. The Hollywood trap is to romanticize these characters into real life, instead of learning the political lessons, and thus absolving the ruling class from mass criminality.

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The president is on gool

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Editor-in-chief of The Atlantic, Jeffrey Goldberg, published an expose’ yesterday titled, “U.S. national-security leaders included me in a group chat about upcoming military strikes in Yemen.” It begins, “The world found out shortly before 2 p.m. eastern time on March 15 that the United States was bombing Houthi targets across Yemen. I, however, knew two hours before the first bombs exploded that the attack might be coming. The reason I knew this is that Pete Hegseth, the secretary of defense, had texted me the war plan at 11:44 a.m. The plan included precise information about weapons packages, targets, and timing. This is going to require some explaining…”

Secretary of defense Pete Pete Hegseth has vehemently denied this report, replying, “You’re talking about a deceitful and highly discredited so-called ‘journalist’ who’s made a profession of peddling hoaxes time and time again.” White House National Security Council (NSC) spokesman Brian Hughes confirmed the veracity of the Signal group chat, which Jeffery Goldberg said included Pete Hegseth, Vice President JD Vance, White House national security adviser Mike Waltz and Secretary of State Marco Rubio.

The NSC is in complete denial that a US-backed war on the Houthis of Yemen destabilizes international security and will eventually blowback to America. No journalist or citizen is allowed to question the Trump administration on this. His spokespeople always lie & deflect all serious questions. Meanwhile, they are sharpening their knives behind closed doors to crush any dissent.

Remember that Trump primarily came to power through his abuse of the legal system. Every business venture he’s ever been connected with went bankrupt, yet he’s allowed to skate free because he rigs the courts through bribery, blackmail & violent intimidation. That’s how Trump and his fascist cabal avoided prison after 1/6.

Election 2024 was a thoroughly fixed affair, with only three politicians allowed to run. Fake primaries for both parties of capitalism in 2024, with Trump running unopposed and threatening to ruin any challenger for the Republican nomination– it was over long before it began.

The Democrats, led by semi-senile president Joe Biden insisted that Biden-Harris was a winner again in 2024. RFK, Jr a billionaire with a deep family history in the Democratic Party, was shoved out of the primary by Biden-Harris early on. The Joe Biden illusion (which wasn’t fooling anyone) was revealed as a fraud to the world during his June 27 debate with Trump. It was only then that calls for candidate Biden’s removal as the head of the Democrat ticket were now heavily leaked into the media.

It took weeks for Joe Biden to comprehend this reality & acquiesce to the inevitable. After weeks of bitter political infighting Kamala Harris was named the replacement. Less than a month later Kamala Harris was nominated by the Democratic Party for US president despite not receiving a single vote in the primary [!].

Meanwhile, third party candidates were systematically shut out of the media and denied ballot status due to onerous signature requirements, etc, for their candidates– who actually received votes for president in the 2024 primaries [!!]. It is this Democratic Party contempt for democracy & the US Constitution that paved the way for Trump in 2016 & 2024. Trump repeatedly claims he has a mandate, when in fact the 2024 election was entirely stage-managed & rigged, bought by billionaires who allow no left-wing politics to enter their orbit.

Democrats & Republicans are united in support of their anti-immigrant war in America and persecution of the Israel-Palestine War in the Middle East which has been going on since 1947. Both parties of imperialism are united in support of the US/NATO-provoked Ukraine-Russia War which has been going on since the Cold War unofficially started in 1945. Killing has been good business for the US stocks & bond market since WWII, and “anti-communism” was the imperialist buzzword of the McCarthyist era. Since, 9/11, “agents of Russia/Putin” is how socialists & anti-war activists are labeled & attacked by the US State Department & big tech.

Normally, high-ranking government officials use “national security” as the catch-all legal reason to deny information to the public. Much is being made in the corporate media about the leaked Signal app texts not being secure, etc, while ignoring the reactionary nature of the discussion itself. What this highly revealing incident proves is that the “national security” argument used by bureaucratic leaders is entirely bogus.

This strategic information was released to the public two hours before the US military struck Houthi targets in Yemen and no US lives were lost or US security jeopardized. If journalists can know about this type of military action in advance, and then publish it a week later, why can’t we the public know about everything else being kept secret?

National security is comparable to being ‘on gool’ as a kid. Gool is defined by inventive children as an imaginary sanctuary where no one can touch you. You just tell the bully on the playground, “I’m on gool,” and you’re safe. You would be surprised how often it works. It’s the audacity of the idea that gets you and apparently it works the same way for these overgrown children in government. Whenever someone asks Biden or Trump a serious question about imperialist foreign policy, it’s always shot down in the name of “national security.” The president is on gool.

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Impeach Trump!

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Articles of Impeachment against US president Donald Trump should have been drawn up, debated & voted upon weeks ago. Instead Senate minority leader Chuck Schumer (D-NY) just gave Trump-Musk a blank check for another six months.

This once again implicates the Democrats as Donald Trump’s prime enablers, as a government shutdown would have triggered a mass confrontation between the fascist administration (struggling to get a public foothold with its anti-democratic policies) and the working masses who are ready to fight.

The only mandate Trump has gotten is from the Democrats. Tens of millions who voted for Trump are now beginning to realize his betrayal. Those who voted Biden-Harris mostly knew the danger, but let themselves be trapped by the Democratic Party. What is brewing now is mass discontent with both major parties of capitalism and a growing realization that organized revolutionary action is necessary.

For the record, the corporate media has been an astonished & defenseless narrator of events since Trump’s second inauguration. Nazi salutes, etc, mean little to them and are played-down in the media. Donald Trump flagrantly violates the Constitution every day, since vowing to become a dictator on day one, yet the complacent fake left preaches patience with congress, the court system, etc– the same patience they asked for with Joe Biden & Kamala.

Trump has had a hand-picked loyalist majority in both houses of congress since election day. Trump also has complete control over the US court system all the way up to the US Supreme Court. That was established in July 2024, when the US Supreme Court ruled that the US president can’t be prosecuted for any crimes whatsoever. Clearly if Trump can’t be prosecuted or impeached by congress over a coup attempt to overthrow the US Constitution on 1/6/21, then Trump is indeed above the law.

Trump has declared all this and is acting accordingly. The collaborative Democrats have given him a mandate to do whatever he wants, and thus no one is allowed to press Trump-Musk on any serious issue. If anyone does so, they are violently ejected by Trump-Musk. To even question a US president is now a prosecutable crime. All information & proof requests are denied under vague “national security” declarations. All the Constitutional branches of US government has been hijacked by an elite group of fascists who are seeking to take control and do their worst. It is the Democrats’ job to help Trump-Musk in deceiving & suppressing the working classes.

Targeting Gaza anti-genocide protesters has become a primary weapon of propaganda warfare & population control. “Anti-semitism” is now officially re-defined as criticism of Zionism. Nazi extermination of Jews is no longer considered anti-semitic by the ruling political class. It is a system of mass media messaging, assisted by police, military & legal resources used to intimidate the working population into acquiescence.

Despite its monopoly power over government resources, data gathering, AI-bots & drones, etc, I don’t expect this US imperialist strategy to work. There is no mass base for any of Trump’s fascist policies. The title above is not a recommendation to congress, but a revolutionary battle cry. It is what the Vichy Democrats refuse to say & do, as “Impeach Trump” now means down with capitalism!

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Crypto crooks congregate & conspire in the White House

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The Trump ‘crypto summit’, the first event of its kind was held this afternoon at the White House. Trump led the press conference afterwards, leaning on crypto czar David Sacks for legitimacy or whatever. Crypto kingpin & bitcoin whale Elon Musk has been conspicuously absent & silent on Trump’s new crypto policy since it was publicly announced with great fanfare last week.

Trump started the public live-streamed part of the ‘crypto summit’ by going completely off subject in mumbling about the World Cup which is to be held in North America in 2026. Apparently the idea of the World Cup being a shared host event among Canada, the US & Mexico was to be overlooked, as was the fact that the World Cup is the largest foreign visa event in the world which happens every four years and people love & demand that diversity. The inherent message of sportsmanship & international brotherhood cuts across Trump’s anti-immigrant campaign, so it was omitted.

A new World Cup trophy has been constructed with Trump’s approval, and frankly it is an abomination in comparision to the standard set by Jules Rimet. The Jules Rimet Cup was the first FIFA World Cup trophy, used from 1930 to 1970, named after Jules Rimet the third president of FIFA. It was stolen under murky circumstances and its whereabouts are still unknown. Documentary movies have been dedicated to this fascinating sports story with political intrigue throughout its history. In this context, Trump explained to the current FIFA kingpin how much better his new trophy is.

Apparently FIFA was part of the ‘crypto summit’ so Trump actually didn’t go off message, but it was an extended diversion and how was the viewer to know? How many people know bitcoin & FIFA well enough to figure out this corruption when it is presented in front of them? And then, how many of will speak & publish publicly against this corruption when it is safer & more profitable to stay silent? The entire corporate media line on crypto right now is complacence.

Anyway, this new FIFA World Cup trophy is designed to easily become a memecoin, so look for FIFA commercial tie-ins with bitcoin & crypto during World Cup 2026. That was the opening crypto message from Trump, and it was very clunky & bizarre to witness. Trump then called upon people sitting around him to thank him for his leadership & genius, which they all did.

It barely lasted an hour, told the public nothing, and no questions were allowed from the media afterwards as the livestream was ended. How much bitcoin & crypto does Elon Musk hold? How does establishing a ‘federal bitcoin reserve’ from the confiscated digital wallets of indicted & convicted criminals create a viable sector for economic growth? Is this the first step towards making bitcoin redeemable in US dollars? How much does Elon Musk stand to gain in all this?

Politically & economically, there are major concerns about a ‘bitcoin reserve’, both on the right and the left. Bitcoin is a Libertarian Ponzi scheme that has been embraced by Trump. Even with all this political support from the highest office, bitcoin is barely hanging on and that is a reflection of the true opposition to crypto that Trump-Musk seek to silence– meaning the vast majority.

Since FTX & SBF became widely known in November 2022, what was remaining of the crypto buzz has worn off. FTX was endorsed by Tom Brady, Steph Curry, Shaquille O’Neal, Naomi Osaka, Larry David, etc, and was still semi-legit up until the FTX collapse. But tolerance for crypto is no longer a public sentiment. Everyone sitting around Trump at the ‘crypto summit’ was hyping FTX, until November 2022. So what does that say about crypto industry expertise?

Trump even admitted near the end of his ‘crypto summit’ that he doesn’t know what will happen with bitcoin, turning to the camera, “Do you? We’ll just see how far it goes… and do everything we can to see that it is a big success,” etc. Trump claims the US Treasury would benefit from a ‘bitcoin reserve’ gained from the digital wallets of convicted pornographers, drug cartels, sex traffickers, gun runners, etc. The idea is: the more bitcoin reserves the US government builds, the stronger we’ll be as a country and it will Make America Great Again…

It is public awareness that Trump-Musk are attempting to swindle the US Treasury into elevating bitcoin and other named cryptocurrencies largely owned & controlled by Elon Musk & David Sacks. As I discussed last week here & here, stablecoins (crypto pegged to the US dollar at a 1:1 ratio) are being pointed to by industry leaders that gathered around with Trump as a gateway into crypto becoming fiat currency & US legal tender. That is the objective of Trump-Musk-Sacks in this ‘crypto reserve’ scheme.

As predicted here last week, the Gemini twins, Tyler & Cameron Winklevos, met with Trump at the ‘crypto summit’ and spoke to him fawningly & with great excitement. Trump referred to Tyler & Cameron Winklevos as “high-IQ individuals”, both of whom Trump just saved from a SEC criminal indictment of the crypto fraud Gemini, which is owned by these two high-IQ individuals. Everyone seated at the ‘crypto summit’ table appeared happy & pleased.

Among the masses, crypto has the support of no more than 5% of the population. Crypto is split more broadly among the ruling class, with perhaps up to a third in support of bitcoin. In objective terms, what this ‘crypto summit’ left out were the voices of over 95% of the population and that is why this isn’t going to get very far politically. In many ways this ‘crypto front’ emboldened by Trump’s public embrace is an ambitious and far reaching projection of presidential privilege into dictatorial power. It reveals the extent of Elon Musk’s influence on Trump which is immense.

Elon Musk is so influential in crypto that his name was NEVER mentioned by any of the high-IQ speakers in front of the media– before, during and after the ‘crypto summit’. Elon Musk is unquestionably the Black Hand controlling Trump policy on crypto and just about everything else.

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The Trump-Musk ‘crypto strategic reserve’ swindle

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Trump announced late Sunday (3/2/25) that he wants to establish a strategic reserve of cryptocurrency. This will be done in the name of economic growth & national security for America.

It’s quite remarkable how Elon Musk’s name isn’t mentioned by Trump or in any of the press articles recently published on Trump’s crypto summit or his plans for a “strategic reserve” of crypto. The acronym of DOGE was taken from Elon Musk’s proprietary crypto coin [!], yet the lapdog corporate media pretend they don’t know Elon Musk is by far the largest holder of crypto in the cyberworld.

Liberals grumble about conflict of interest, etc, but don’t connect it here as it’s happening. The bourgeois press, including its liberal wing, are now reporting much more favorably on crypto, which was surely a Trump edict to the corporate press. Cryptocurrency is fake money, created largely by Elon Musk’s “magical money computers” which is now being floated as a “strategic reserve currency” more valuable than gold [!] due to its uncanny ability to always rise in price.

Of course, all this “value” was created by manipulation of Ponzi scheming supercomputers, but that is to be overlooked. The crypto industry is extremely wasteful as far as electricity consumption goes, thus crypto is a Libertarian environmental disaster that is vulnerable to energy price spikes and other real-world economic forces. Crypto has no store of value, and is only priced in relation to other fiat currencies, mostly the US dollar. Its only use value is to conceal illicit transactions, making it useful to pornographers, criminals & state intelligence agencies.

Crypto depends entirely on near-zero interest rates and a constant inflow of new money. The federal funds rate is currently 4.33% and projected to stay in that range. This is the biggest obstacle to another crypto boom. Trump can’t dictate to (or fire) Federal Reserve chairman, Jerome Powell, at least until next spring which makes that his biggest institutional impediment in Trump’s bid to establish a presidential dictatorship and a US “crypto reserve.”

Trump’s “reserve of crypto” could only come from the biggest crypto whale anywhere: Elon Musk. This “strategic reserve” plan is simply a swindle by Trump-Musk to bilk the US taxpayers into buying hundreds-of-billions of dollars in worthless crypto from Elon Musk. This is how Musk plans to cash out his worthless crypto empire and turn it into billions of US dollars, and he’s being enabled do it with presidential complicity & immunity. If Trump-Musk are allowed to do this, the US dollar will become grossly devalued, and fewer workers will be able to afford the inflated cost-of-living expenses, etc. The Trump tariffs are already creating this effect.

Trump & Musk have executive power, which they abuse at will, but the bond market is infinitely bigger than either of them. The bond market runs the world because it owns the world, especially the US government. That $36T in federal debt is owed to ultra-wealthy bondholders who demand redemption. These debts are owed to the Black Hand and can’t be cancelled, for if they were, the very foundation of modern capitalism would come crashing down. If that happened, a reorganization of the global economy would be required, meaning an international socialist revolution. This is why federal debt must be re-paid, no matter how much it hurts the working masses & youth.

The billionaire bond market is split on crypto. As I’ve explained in earlier cryptocurrency articles, particularly in my SEC v Grayscale reporting, there is a ‘Warren Buffet faction’ of capitalism that recognizes crypto as a fraud and wants it banned. Their argument is that crypto is too unstable to be an institutional pillar in monetary economics and has the potential to bankrupt the entire system. That analysis is fundamentally correct. But the Elon Musk pro-crypto faction opposed this thinking and has won out for the moment.

Typical Yahoo pointed comments on Trump’s ‘crypto strategic reserve’ plan, which the corporate press is too complacent to seriously criticize include:

— How you going to justify making crypto holders rich with tax dollars?
— Trump steals our money to buy fake tokens. Typical.
— We have witnessed why cryptocurrencies are far too volatile for any country to establish a reserve of any consequence. For BTC to go from almost $110k to the upper $70s and then bounce back to about $91k in a handful of days is just ridiculous. [This happened in the past week]

— So the plan is to invest real money into fake money… What could go wrong?!

Conclusion: It’s time to take these Nazis by the throat and make them cough up all their personal & financial information, including exactly what & how much crypto Elon Musk owns. You don’t get to declare an answer and insist it is correct without showing proof. The teacher downgrades lazy students for that in school, or at least they used to. Trump & Musk can’t be bothered with such meticulous work & proofs, they were never good that sort of stuff. These conmen sell you dreams– from Riviera casinos in Gaza to the colonization of Mars. None are economically, scientifically or materially possible but they keep selling and too many keep buying because they see no hope anywhere else.

The Trump-Musk koolade is starting to wear off for his working class voting base. The right-wing militias such as the Proud Boys are still solid, but young working men & women with high school & college degrees that need good jobs & fulfilling career opportunities are already feeling bitter disappointment in Trump. This creates a political vacuum for the SEP/WSWS to grow in numbers & political force, by offering a leftist solution to war, inequality, genocide & dictatorship.

The Democratic Party koolade is weak piss that has been rejected by the masses. Bernie Sanders is still trying to corral the left, but all he gets are upper-middle class philistines who want to record some camera-phone soundbites then post to social media. Celebrity worship meets vicarious activism for fake left Democrats. Their strategy is to reach out to Republicans disaffected with Trump’s oversteps, particularly his cutting off US military aid to Ukraine after the Trump-Zelensky shouting match in the Oval Office last Friday. That Ukrainian military aid cut-off announcement was made official by Trump yesterday. Media pundits pontificated whether Ukraine military aid could be ended by Trump, or if it needed Congressional approval, etc… and while these scarecrows babbled about that, Trump went ahead and did it. Fait accompli.

The pace at which humanity is being hurled towards WW3 has quickened. Only a politically conscious mass movement of workers linked internationally can stop imperialist fascism from destroying us all. We need a global sitdown strike organized & led by the most class conscious rank-and-file workers to bring capitalism to its knees & slay the dragon. It is a dialectical process, meaning the seeds of revolution are sown in all this capitalist madness, so make sure to take an increased class consciousness & seriousness in your words & actions as this movement towards world revolution culminates. This is a chance for the youth & workers of the world to unite & express their historical voice, so tell your friends & don’t miss it.

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The Trump-Musk White House crypto summit

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Elon Musk recently stated on a Joe Rogan podcast that Social Security is the biggest Ponzi scheme ever. Will anyone from the press ask Elon Musk before, during or after this upcoming crypto summit how bitcoin, NFT’s & the rest of cryptocurrency aren’t a Ponzi scheme?

The new Trump administration has already dropped SEC lawsuits against crypto frauds Coinbase & Metamask, while killing SEC investigations into Robinhood, Gemini & Open Sea. Many of these pardoned criminals will be welcomed at the first White House “crypto summit” to be held this Friday, March 7.

Trump-Musk talk big about “fighting fraud, waste & abuse” by cutting Social Security, Medicare & Medicaid, and that’s why Elon Musk needs access to every American’s information, etc. But Elon Musk is the world’s biggest holder of Bitcoin, the most overvalued of all the cryptocurrencies. That’s a serious conflict-of-interest in allowing the largest crypto tycoon to dictate government spending & monetary policy.

Crypto is fake money, worthless to its ethereal essence. You still can’t buy a Big Mac with it and for good reason, but Trump-Musk are seeking to change that. These fascist crypto fanatics have no real imagination or ingenuity, so they want to make bitcoin and other select crypto currencies (surely controlled by Musk), into US legal tender. That is a MAJOR shift in White House economic policy, and it wasn’t even discussed on this Sunday’s Meet the Press on NBC.

The FTX collapse in November 2022 and the criminal exposure of its ‘genius boy wonder’ Sam-Bankman Fried proved to most of the world that crypto is a fraud. It was the most damaging event that hit the crypto industry since in the onset of the COVID pandemic, along with the raising of interest rates.

By December 2008, the Fed had lowered the Fed funds rate from 5.25% in September 2007 to near zero. Rates were kept near zero until they were increased back to ~5% during the Biden administration. The entire crypto boom, from inception to today has been fueled by low interest rate speculation and political favoritism, now in the form of Trump-Musk.

When the Supreme Court ruled on the SEC v Grayscale case in August 2023, crypto became sanctified as a valid tradable commodity that can be backed by the US government if an industry crisis occurs. This has set the stage for Trump’s crypto con as US President.

Elon Musk is also the whale for most of the other leading crypto industry staples including Dogecoin and probably stablecoins such as Ether, Etherium, etc. Only Musk knows all the answers here, but no one will ask him and demand a serious answer.

All this crypto is worthless, so Musk’s true worth is probably negative with all his debt, but no one is allowed to audit him or ask him such questions. Fascists don’t allow themselves to be insulted like that, and that’s why they surround themselves with yes-people & armed security loyalists. That’s how fascism works, with collaborative help from the imperialists (CIA Democrats) which extends through the corporate media.

Bernie Sanders did appear on Meet the Press the Sunday as the Democratic Party has rolled him out again to bellow his fake left anti-oligarchy message to anyone who will listen. Bernie is set to tour Wisconsin & Michigan this week, holding rallies in districts where Republicans unexpectedly beat Biden-Harris in 2024. In Wisconsin, this meant skipping working class Milwaukee for a UW venue in Kenosha & then moving on to wealthier areas west of Madison. This is where liberal leader Bernie Sanders believes he can be most effective.

Trump has pledged to make the U.S. the “crypto-capital” of the world. The Trump family now has various crypto ventures in the works and others that are delivering revenue. Eric Trump delivered a keynote address at Bitcoin Mena 2024 in Abu Dhabi, stating “You’re going to have the most pro-crypto president in the history of America.” In response to the deluded Trump-Musk crypto faction, historical materialists reply, “The history of America is infinitely more significant and of weight than the advent of bitcoin ~2010.”

This is where the “American economy” is heading: more Trump tax cuts for the ruling oligarchy, more anti-immigration propaganda & enforcement– all paid for through massive cuts to Social Security, Medicare & Medicaid.

Trump’s heated argument with Zelensky in the White House on Friday has CIA Democrats & EU imperialists in crisis. Trump is being criticized for telling the truth to Zelensky publicly, where everyone saw it. Trump told Zelensky that he is losing the war (which he is) and can’t last for a week without US support (he can’t). This exposure of such truths to the American & working people everywhere infuriates CIA Democrats who privately advocate hostility towards Russia above all else. “Humanitarian intervention” & “defending democratic rights” was always a lie and now is worn out propaganda to the Trump administration.

This Trump shift in Executive priority on US foreign policy has evoked a virulently hostile reaction in the corporate press, particularly from the liberals. Trump doesn’t see Russia as an enemy, he prefers to launch a world war against China instead. Not seeing Putin as the primary enemy is an unforgivable betrayal to strategic CIA imperialists. The Democrats insist on unending war with Russia, and that is the difference between the CIA Democrats and the Trump fascists. It’s his racial hatred of Asians that fuels Trump’s foreign policy shift, and he did this during his first administration so it’s no surprise. Of course, all this is covered up in the media, who want to claim they are being blindsided and that US foreign policy is being wrecked & compromised by Trump.

The idea for Trump is to keep attacking immigrants & Palestinians as neither have an army to defend themselves against imperialism and a fascist police state while no bourgeois politician will defend them. Defending the democratic rights of Palestinians in Gaza would be “antisemitism” according to the Orwellian semantic inversion of the US corporate-government propaganda machine. This messaging keeps the coming world war distant to most Americans, so people aren’t completely discontent. The message is: Things will get worse as far as jobs & inflation goes, but Trump will magically make it better in the end. Just continue to believe in our fuhrer.

It should go without saying that fascism needs to be exposed for its inherent evils & then ruthlessly opposed through its defeat, but unfortunately it still needs to be stated & repeated. NBC’s Meet the (Lying) Press is filled with collaborationists, fascist sympathizers, and fake leftists who are the most dangerous enemies of the working class. It requires total war from organized & disciplined working masses internationally to defeat fascism which has now developed into an international phenomenon of the bourgeoisie.

Musk accuses the US government of having “magical money computers” that has led to its $36T debt. This debt, mostly owed to billionaire bondholders has ballooned since the 2008 federal bailout of the banks & financial system. This bailout for the rich gave rise to bitcoin, the first cryptocurrency created by magical money computers into instant wealth.

He started with Tesla & SpaceX, but crypto is how Elon Musk became the richest person on the planet and able to overpay for Twitter & buy his way into the White House. Musk calls government fraud “sheer madness” that must stop, without showing the American people any proof, as he continues his semantic inversions, big lies & distortions of facts, particularly in terms of the value of the US dollar based on an economy that produces goods & services and collects taxes on its GDP, versus the crypto Ponzi scheme of which Elon Musk sits atop the pyramid.

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Celebrities who can be trained to spread desired messaging

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Yesterday, a former US government official, Mike Benz, published an article on the USAID program to integrate imperialist messaging into popular music. Among those prominently named are: Taylor Swift, Dua Lipa & (of course) Pussy Riot. Also discussed in the piece are 22 rappers from around the globe, who have visited the US State Department over the years and been trained to write lyrics that dovetail with US imperialist interests.

The argument that USAID is necessary to fight global hunger, advocate for democratic rights, etc, is a fraud– a cynical concoction of Western intelligence. Trump/Musk are shutting down the notorious CIA fronts of USAID & the National Endowment for Democracy (NED) because of it’s fake left bias, which the fascists despise.

This has nothing to do with democracy, as Trump/Musk seek to reshape US intelligence in their Nazi image. Note that “Trump/Musk” and “intelligence” is an oxymoron.

It was a convenient starting point for the Trump/Musk government wrecking ball because so many people recognize this imperialist corruption. Only a few well-paid rainbow warriors (pic above) have protested the shutting down of USAID & NED. Perhaps the State Department can coax one of these celebrity assets into writing lyrics about the unfairness of this defunding. Rolling Stone, Vanity Fair, Vogue, etc, would give it a great review– for sure. That’s their job.

“Celebrities who can be trained to spread desired messaging” is the exact State Department phrase which became the title. These trainable celebrities are fascist collaborators & sympathizers. The irony is that most of these puppets weren’t fascists to start, but the Black Hand has corrupted them and that’s the Faustian deal one must make to become a celebrity. These iconic defeatists see no hope, no path to fight Trump/Musk, taking all their political cues from the CIA Democrats. These trained celebrities who learned nothing from history are Vichy France.

Vichy collaborators were paraded though the streets of liberated Paris with swastikas drawn on their foreheads, while the women also had their hair shaved-off for giving aid & comfort to the Nazis from 1940-44. The population of France lined their streets to spit upon & hurl verbal abuse at these fascists, seething with revolutionary anger & class hatred of the bourgeoisie. Fascism, which flows out of imperialism, is the bitterest enemy of democracy and that’s the lesson of WW2. The masses of the world still hate Nazis, and it is this retribution of the international working class that historically awaits celebrities trained to spread desired messaging.

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Transgender athletes in mixed & co-ed sports

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Preface: This is my follow-up conclusion to “Trump to ban transgender athletes in women’s sports”, published yesterday and linked here.

Perhaps the final hurdle in this ideological debate is the question of transgender participation in co-ed sports. There are sports where women compete against men. Equestrian jumping & horse racing feature women jockeys competing against men from the Kentucky Derby to the summer Olympics. Auto racing forever changed with Danica Patrick. In these mixed sports (which men still dominate), gender doesn’t matter as much, since it is the horse or vehicle that is doing most of the work. Therefore transgender isn’t a competitive issue in these such sports.

For co-ed sports, there are rules to divide men & women– usually equally. For example, in most adult co-ed softball leagues there are 10-player teams (4 outfielders), divided half women & half men. The batting order has to alternate boy-girl-boy-girl, and if a guy is walked (intentionally or not) he gets second base while next batter up (female) gets a walk to first. This effectively disallows pitching around the men.

Transgender participants in co-ed sports need to be considered as their birth sex. If that fair-play rule violates their sensibilities, then don’t play. That’s how it goes in sports where competitive athletes don’t allow enabling. From all of us to them, “In you can’t play by the rules then form your own league or STFU.” Assuming they know how to play, a co-ed softball team with 5 transgender biological males playing as women would be unbeatable in most recreational leagues.

As I’ve discussed, this is an easy political victory for Trump when he needs it most. His anti-immigration policies, along with Elon Musk’s government takeover have backfired domestically, while his plan to cleanse Gaza of Palestinians and build a casino resort for the rich on its ruins have been internationally rejected & condemned. Transgender athletes is a minor issue in comparison, but it gives Trump a much-needed credibility boost and thus more room for his fascist maneuverings. It allows Trump to go on the attack, with moral superiority over the Democrats. In Trump’s warped mind, canceling Biden/Harris DEI initiatives gives him the authority to attack anyone on the left. To be clear: DEI is fake left. Socialists who think & act like this writer are the true left, which is the real target of Trump & DEI/CIA Democrats.

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Trump to ban transgender athletes in women’s sports

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Donald Trump has announced today that he will ban all transgender athletes from competing against girls & women in sports. This is to apply to all ages, from grade school competition through NCAA & professional leagues. This after the Biden/Harris administration had backed their legal participation in women’s sports for years as part of their sweeping identity politics campaigns.

Much of this story was brought to a head by the controversy surrounding San Jose State University’s (SJSU) women’s volleyball team. The transgender athlete in question is Blaire Flemming (pic above), who led the 2024-25 SJSU women’s volleyball team in kills (314), kills per set (3.88) and total sets played (81). Second on the team in kills was Nayell T’ia with 228, and 3.45 kills/set. No other Spartans women’s volleyball player had more than 169 kills last season. A link to SJSU 2024-25 women’s volleyball stats is here.

A cursory look at these statistics, nullifies any argument that a transgender athlete creates no competitive advantage for a NCAA women’s volleyball team. Blaire Flemming was arguably SJSU’s most effective women’s volleyball player last season. Teammates & opponents describe how much higher Blaire Flemming can jump and how much harder she hits the ball, as compared to biological women.

Upon wide-spread discovery of this transgender athlete, NCAA opponents refused to play against SJSU women’s volleyball in 2024-25, as numerous matches were forfeited over principled opposition to a transgender athlete competing against women.

This is not a difficult issue for most of the population. Most people feel transgender people have democratic rights, but allowing them to compete as women in sports isn’t one of them. In fact, allowing this form of unfair competition only serves to increase society’s hatred towards those who are transgender. The problem here isn’t Blaire Flemming, the problem is the corrosive identity politics of the Democratic Party that (by design) irrationally divides society.

The team captain of SJSU women’s volleyball, Brooke Slusser, is suing her head coach, the university, and the conference over this, after being made to be the roommate of Blaire Flemming, without being told about Flemming being transgender [!!]. Apparently, SJSU & the NCAA knew Blaire Flemming was transgender when transferring to SJSU from Coastal Carolina in 2022.

ESPN has written multiple articles on this matter, in which they refuse to identify the transgender player as Blaire Flemming, in order to “protect privacy.” The privacy of Blaire Flemming’s roommates & teammates are of little-to-no concern to ESPN and this identity politics crowd. The mission of these moralist Democrats has been to create a post-modernist wonderland in female athletics, where protesters are silenced, while the “rights” of a handful of transgender athletes are tightly safeguarded.

Every male athlete in competition discloses that he is male to the NCAA. Every biologically female athlete does the same. But according to identity politics logic, transgender athletes can lie about their gender and are politically protected. For the record, Blaire Flemming is listed as “female,” not transgender, on the SJSU 2024-25 women’s volleyball page. This deeply unpopular & reactionary political position is despised by 99+% of athletes and the fans who watch. It allows a fascist imbecile such as Donald Trump to posture as a reformer for justice & common sense, and only the Democrats can do that.

One final note on gender identity. I always refer to Blaine Flemming as Blaine Flemming. That avoids the he/she them/they identity politicking. When I write about any athlete, I almost always use their first & last name together. For instance, Roki Sasaki was the most coveted MLB free agent this winter, and as a sportswriter I had to publish extensively on that. Notice that his name is Roki Sasaki, not Sasaki. Excessive use of a last name without the first dehumanizes the subject. In two long articles on Roki Sasaki, I referred to him by his last name only a few times over the course of thousands of words. I also referred to him, as a pronoun.

With men & women you easily can use pronouns. But with transgender, I prefer to use their full name only & always– writing & speaking. It’s the most accurate (& comfortable) way to write I’ve discovered. Consider that as my accepting nod of approval to transgender people who are having a hard time identifying themselves. The more these transgender people support the Democratic Party, the more voiceless & confused they become.

Liberals cry that “outing” a transgender person is a crime, when really it is a public reckoning of personal truth. You’re an adult now, so deal with it. It’s always uncomfortable, but more importantly it’s necessary. If you checked “female” to the NCAA when you are a transgender biological male, then you fundamentally lied. Enabling this pathological form of dishonesty is the root of all our problems.

Statistically speaking, as far as sample size goes transgender athletes are an extreme outlier. This means you can’t have a NCAA division of transgender competition because the numbers aren’t anywhere close to supporting it and never will be. There are so few of them, that if transgender people want to compete then they need to do it under rational scientific guidelines, meaning man/woman determination by birth gender. If there’s any question, then the athlete must submit to genetic testing, just like drug testing. Transgender athletes don’t get to make up their gender, or claim identity with a specific gender and make that a fact, which Democrats have shamelessly supported.

This isn’t an infringement on the rights of transgender people, it’s just a fair solution to a new problem. Instead of solving it rationally, the Democrats have tried to cynically exploit the issue of the rights of transgender athletes. What the Democrats always leave behind in the process are the rights of the great majority: in this case it’s the female athletes who have had to live, locker room, shower & compete with an unidentified transgender athlete that has been secretly protected by the NCAA from revealing their true biological gender. That’s creepy & murky murky.

The Blaine Flemming’s of the future will have to compete with the boys & men. It took Trump to do this, after 99% of the population already had clearly expressed their feelings on this issue. It’s an easy political win for Trump, always a specialty of the Democrats. Notice that I almost always refer to Donald Trump as Trump, and that’s because Trump is a dehumanized persona.

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