Welcome to the Corrupt State situation. This is how developing, poor and struggling nations function. I hope it will not last long because the US citizens don't deserve it (although the same is said for every other nation)
A sitting US president launched two memecoins that wiped out $4.3B+
51–60 of 79 posts
Re: A sitting US president launched two memecoins that wiped out $4.3B+
#52Welcome to the Corrupt State situation. This is how developing, poor and struggling nations function. I hope it will not last long because the US citizens don't deserve it (although the same is said for every other nation)
We’re probably settling into what they call a “hybrid regime”.
We’ll likely wobble between periods of relative stability, with about the amount of liberty and corruption we’re used to at the federal level, and more-authoritarian high-corruption periods like this one.
Breaking out of the cycle, I rate less likely than a full collapse into authoritarianism. I just don’t see a viable path to the kinds of reforms we’d need. And it’ll get harder the longer this goes on, as the rot of corruption affects state capacity, industrial capacity, and drives even more entrenched local corruption than we already deal with. Plus we’ve got multiple debt and cost crises about to slam into us full-force, over the next 1-3 decades.
But for now: hybrid regime.
Re: A sitting US president launched two memecoins that wiped out $4.3B+
#53Memecoins? More like bribe/money laundering special vehicles
His stablecoin, USD1, is his primary instrument for laundering. It now constitutes roughly 1/3 of his entire net worth. Attached article gives a great breakdown.
Re: A sitting US president launched two memecoins that wiped out $4.3B+
#54Isn't all memecoin just a pump and dump anyways? I always thought of it as an alternative to lottery tickets or slot machines.
I wish someone could help me understand why GenZ predominantly doesn't get this after they keep getting burned by get rich quick schemes. How did we raise a generation of rubes?
Sure, easy answer: it's simply not a generational thing. What you're observing is your own bias. Prior generations (including yours) get scammed just as often.
Re: A sitting US president launched two memecoins that wiped out $4.3B+
#55Re: A sitting US president launched two memecoins that wiped out $4.3B+
#56Earlier quoted context omitted.
Oh come on. Yeah the law has never been applied equally. Terribly so. That has nothing to do with the specific thing I’m obviously saying.
The unspecified, specific thing.
It’s an article about the president making memecoins and doing rug pulls to enrich himself. That could also easily be used as a method to transfer very large bribes.
It’s very clearly a comment on the lack of norms or enforcement of rules (emoluments clause, among MANY others) on the presidency.
Re: A sitting US president launched two memecoins that wiped out $4.3B+
#57Earlier quoted context omitted.
The unspecified, specific thing.
It’s an article about the president making memecoins and doing rug pulls to enrich himself. That could also easily be used as a method to transfer very large bribes. It’s very clearly a comment on the lack of norms or enforcement of rules (emoluments clause, among MANY others) on the presidency.
So, my comment was directly relevant afterall.
Re: A sitting US president launched two memecoins that wiped out $4.3B+
#58Re: A sitting US president launched two memecoins that wiped out $4.3B+
#59Memecoins? More like bribe/money laundering special vehicles
His stablecoin, USD1, is his primary instrument for laundering. It now constitutes roughly 1/3 of his entire net worth. Attached article gives a great breakdown. https://archive.is/4ieKD
Wow, that article makes you want to vomit.
Re: A sitting US president launched two memecoins that wiped out $4.3B+
#60Earlier quoted context omitted.
I wish someone could help me understand why GenZ predominantly doesn't get this after they keep getting burned by get rich quick schemes. How did we raise a generation of rubes?
Sure, easy answer: it's simply not a generational thing. What you're observing is your own bias. Prior generations (including yours) get scammed just as often.
[deleted]