I expected all sorts of things from Donald Trump, but screwing his own nation with a pump-and-dump crypto scam wasn’t on my list.
I am not entirely sure how bad this is. It feels highly inappropriate for the head of state to do so, but if you think about it…
Redistribution of wealth from gullible to canny is still better than that from productive to useless, like that leftists dream about. And it is entirely voluntary, which is another huge plus over leftists’ forced redistribution.
It is known that some politicians, russian politicians for example, have been defrauding their citizens through financial pyramids. But compared to a financial pyramid, a pump-and-dump scam is innocuous. Everyone can receive gains at someone’s expense, not the mere top of the pyramid.
If it is truly, hazardously bad for the US, I still have faith in the deep state and its ability and will to minimize Trump’s damage.