Business analyst Ed Elson did not mince words over schemes by President Donald Trump and his family to get rich off the White House and the deadly war on Iran, which has killed multiple US service members.
“There are two options,” said Elson speaking Thursday with MS NOW anchor Katy Tur. “It's either he's the greatest investor of all time or he's an insider trader, and I'll let the audience decide what they think is the truth. What I can tell you is before we went to war with Iran, [Trump’s sons] Eric and Don, Jr. invested in tactical drone companies that sell weapons to the U.S. government. And then, what do you know, they hit the big time. I mean, we know that they are on the boards of many of the companies, which they are actively attempting to deregulate through the deregulatory campaign that we're seeing at the SEC and the IRS and the DOJ and the [Commodity Futures Trading Commission]. And then we can just look at their dad, who is clearly insider trading. But of course, we can't actually get any retribution for that because he has gutted the one agency whose job is to enforce the law on that front, which is the sec. They've lost their workforce; their monetary settlements are hitting all-time lows [in case pursuit].”
Elson, co-host of the award-winning Prof G Markets podcast, was speaking of an earlier MS NOW report of Trump and family profiting off the presidency, with Don Jr’s. management fund formerly overseeing a few hundred million dollars, but now overseeing more than $3 billion. Its main investment fund generated returns of roughly 200 percent as of June 30th, according to the New York Times. Tur pointed out that average returns from other similarly-founded venture capital firms were 21 percent.
“Just remember, Trump made $1.4 billion last year from his cryptocurrencies, which in my view amount to a Ponzi scheme,” Elson added. “He made more money on crypto personally than any of the largest crypto firms in America, including Coinbase, personally. So, I mean, do the math yourself. Either he's a genius or he's pulling a fast one. I think it's pretty clear what the answer is.”
And the stench of corruption appears to be sinking in to the American public. Trump’s polls are crashing, and one source close to the administration speaking with Politico said the White House is “at a maximum level of frustration right now” and that the president is now fully aware that the only way to the victory that he wants is completely politically impossible.
Starting August 1, Trump Media and Technology Group planned to launch a new data feed aimed at high-frequency trading firms whose profits are made by making trades a fraction of a second faster than everyone else. The $100K-a-month service would provide “licensed, real-time access to posts from the highest-ranking Truth Social accounts.”
“It used to be that there was a good portion of the population enough to get them elected twice that went along with that. But when you see these [poll] numbers, that persuasion is not effective any longer. It's not holding,” said Tur. “Americans are talking about this. They're seeing it. They're feeling it, and that's corruption.”