One of the most alarming aspects of the Trump-Vance presidential campaign is their policy of promoting cryptocurrency as a viable alternative to the U.S. Dollar. This reckless approach could have profound implications for our economy and financial stability.
But as hundreds of financial and monetary experts have said, crypto is an unproven substitute for the existing currencies in any country, and its history is synonymous with fraud and false claims about its “investment value.”
In the latest push by the Trump-Vance ticket, crypto is looking for more legitimacy by being added to the “regulatory framework that will support crypto markets,” including its addition to the Federal Reserve’s toolkit as part of its reserve fund on its balance sheet.
As Bloomberg has reported, this would be a breakthrough for crypto, which “some U.S. financial regulators have currently described as “95 percent fraud, hype, noise and confusion” and “the Wild West.” As this site has reported on numerous occasions, crypto has been the vehicle for some of the largest financial frauds since its introduction.
Crypto sales, marketing, mining, and trading frauds have been perpetrated on every continent. However, that has not deterred some congressmen from promoting crypto, even though they have conflicts of interest because they receive money from crypto lobbyists and own large amounts of crypto.
As reported by Bloomberg, Senator Cynthia Lummis (R-Wyoming) has been dubbed the Senate’s “crypto queen.“ She owns between $170,000 and $230,000 worth of Bitcoin. Senators Patrick J. Toomey (R-Pa) and Ted Cruz (R-Texas) also own crypto and have been promoting it in Congress.
Lummis has emerged as crypto’s cheerleader and introduced the Bitcoin Strategic Reserve bill. According to Cointelegraph, the bill aims to accumulate 1 million Bitcoins over time, or roughly 5% of Bitcoin’s total supply, using existing U.S. Treasury funds to acquire Bitcoin in amounts that mirror the U.S. Treasury’s gold allocation.
When Lummis introduced the bill, she said: “As families across Wyoming struggle to keep up with soaring inflation rates and our national debt reaches new and unprecedented heights, it is time for us to take bold steps to create a brighter future for generations to come by creating a strategic Bitcoin reserve.”
Like most crypto advocates, Lummis is vague about crypto’s benefits. She did not specify the link between holding a Bitcoin reserve and curtailing inflation and the national debt. Nor did she say she owns crypto and is interested in seeing the Fed adopt her bill so her investment increases in value. Conflicts of interest? Self-serving legislation? Those ethical details are no concern to MAGA Republicans.
Crypto Has No Investment Fundamentals
Unlike stocks, bonds, real estate, gold, and other commodities, crypto has no investment fundamentals for analysts to consider. Its price moves from emotional hype. Crypto does not pay a dividend or release quarterly reports. Sadly, some major investment firms have analysts who track crypto as a traditional asset, even writing reports based on hypothetical scenarios.
The best explanation of why big investment firms trade crypto is to exploit the spreads of various cryptocurrencies traded on different exchanges. They would take advantage of this knowledge and information disparity among unsophisticated investors the same way traders exploited the dumb investors who flocked into pick sheet stocks decades ago. Wall Street always loves suckers, and crypto has more than its share. 
So when it comes to painting crypto as an “asset class” or a “countercyclical, non-correlating investment,” the crypto hypesters now push the crypto propaganda that Bitcoin is not an inflation hedge.
However, the data does not support this.”Bitcoin is currently inflationary,“ according to a 2024 report by Fidelity.
The report added that “over the past year, bitcoin hasn’t acted as an inflation hedge.” 2
They continued: “In recent months, bitcoin returns have become more correlated with those of broad stock market indexes. This means that when markets tumble, the price of bitcoin tends to fall too.
“For example, after the Fed indicated that it would raise interest rates in early May, bitcoin plummeted in value alongside stocks. Bitcoin has been compared to gold and is generally considered an inflation hedge. However, the correlation between bitcoin and gold has been close to zero since June, meaning bitcoin’s price hasn’t moved together with the gold price.”
Bitcoin is inflationary because the supply of Bitcoin increases as more Bitcoins are created. At the current mining rate, new bitcoin circulation is reduced by half every four years. As the Fidelity article notes, the supply of bitcoin is hard-capped at 21 million units. “However, according to the current algorithm, this threshold won’t be reached until the year 2140,“ which means that the value of bitcoin can fluctuate and be subject to inflation for the next 116 years.
That should not be comforting to any politician who is singing the inflationary hedge potential of Bitcoin. But the big money pushing crypto does not care about these investment details.
Silicon Valley billionaires, such as Peter Thiel, Elon Musk, et al., and their Manchurian candidate, JD Vance, all push their selfish agenda. Thiel’s money motivated Trump to choose the weirdo Vance as his V.P. and make the pro-crypto pitch to a captivated audience. This was not challenging for Thiel since crypto is especially attractive to Trump and his MAGA followers because it is the currency for fraud.
As noted in many articles on this site, state regulators worldwide uncover crypto fraud cases monthly and have been doing so for years. To perpetuate crypto fraud, you only need a good story, mumbo-jumbo, and greedy people looking to get rich quickly. The crypto fraud data shows that there are many of these people.
BIS said the global foreign exchange market traded $7.5 trillion daily in April 2022. This market operates 24 hours a day, every day of the year. It is the accepted medium of exchange internationally and is backed by central banks worldwide. In contrast, crypto is not supported by anything. That’s right. There is nothing behind the price of crypto except the willingness of more naïve investors to buy more crypto from already naïve investors.
Efforts to explain the popularity of crypto are about the same as the reasons for the inability to explain QAnon. Interestingly, the inventors of QAnon (which appeared in 2017) and crypto (first appeared in January 2009 by programmers “whose actual identity has never been verified.”), are both very suspicious since the people who invented both could be multi-billionaires. That’s why it is safe to assume that some evil governments (North Korea, China, Russia?) invented both to sow chaos among Western democracies and other democratic nations.
Crypto: The Currency of Thieves and Tax Evaders
Crypto has the following nefarious purposes:
- To be used in money laundering schemes;
- To be used for tax evasion;
- To destabilize central banks around the world and create financial havoc;
- To give working-class people the chance to make a one-time profit even if they have no idea why the price went up;
- To perpetuate hope that the crypto people buy, less hidden fees and expenses will be worth more in the future than when they bought it. This is the engine behind Ponzi schemes.
- To be used in online sports betting.
- To provide owners bragging rights to join in the crypto conversation.
- To fuel the Ponzi scheme that benefits people who run crypto brokerage firms, sell NFTs, and run advertising firms.
- To give financial journalists and news outlets something new to write about, even if they know it is likely fraudulent.
- To sell crypto ads that generate vast sums of money for online social media, including financial websites and sports teams that profit from the Ponzi scheme.
Connecting the Dots of Trump’s Chaos
For anyone who keeps track of the intentional chaos caused by Trump, it’s not surprising he would adopt crypto as a vehicle to destabilize world economies and the Federal Reserve.
If we connect the dots, it looks like Trump, QAnon, and crypto are all part of the same spearhead to disrupt the U.S. democracy and replace it with the authoritarian plan Trump has already publicly announced.
Trump’s well-publicized actions to break the law are all linked to his attempts to damage democracy and deregulate the markets. This explains why Trump told his crypto convention audience that he would fire the head of the SEC since that agency has prosecuted crypto fraud to protect the investing public. Crypto and QAnon add more irrationality and chaos to Trump’s current push for social and economic disorder.
All this helps explain why crypto and anti-regulation are dangerous to democracies. “Trust in government increases compliance with a wide range of public policies, including public health responses, such as vaccinations, adherence to tax laws, political participation, social cohesiveness, and Confidence in institutional legitimacy, as pointed out by Maryland Daily Record columnist Robert Pawlicki.
In Pawlicki’s single list, we find the reasons why Trump and his enablers pushed a national anti-COVID vaccination policy, evaded taxes, challenged the IRS, U.S. Justice Department, judges, the top Pentagon leadership, Democrats and Republicans who opposed his policies, stigmatized minority groups, and challenged the entire national voting and president affirmation process.
Crypto+Trump Chaos=Destabilized Democracy
This simple formula explains why Trump is running for office. He has no plans to better the country. On the contrary, he and his followers want to loot the nation. That is what Project 2025 is all about.
Fire experienced, trained civil servants and replace them with untrained, greedy cronies. Put more cronies into higher government officials after paying bribes to obtain their positions. Sell federal assets to Trump’s billionaire donors to make them American oligarchs.
This is obvious to anyone who has followed sociopaths in other nations. Now, we have a sociopath on American soil, supported by elitists and billionaire libertarians who hate regulation and want to create a permanent underclass. It’s all spelled out in the Trump Project 2025 playbook.
Crypto is a way to evade taxes and launder money, essential for billionaires to get even richer.
Sadly, some states have decided to include crypto in their portfolios because they rely on pension fund consultants often paid by crypto lobbyists or because state financial executives don’t know what they are doing or are convinced by crypto-investment salespeople.
This ploy was used to sell hedge funds and private equity to state financial funds. In time, these state investment boards will be hit with significant losses from crypto, just as they have from hedge and private equity funds. Crypto is not an asset class; its price is based on euphoria and terror, which are not valid reasons to invest.
