The Daily Parker

It's entirely possible that I will have something to post about the OAFPOTUS's self-dealing almost every one of the next 1,417 days. One hopes not, however. I mean, we only have 608 more days until the next election!

Jeff Maurer starts today's update with his take on the laughable proposal for the United States Government to buy cryptocurrency:

The president wants to spend taxpayer dollars to buy fake non-money that Twitch streamers use to buy drugs. And he’s not limiting the government to the less-laughable cryptocurrencies, like Bitcoin — if Bitcoin is Coca-Cola, Trump wants to also buy Jittery Jimmy’s High-Fructose Fizz Drink. Trump has mused that buying cryptocurrency could get the government out of debt, which sounds like the plan a degenerate gambler makes right before his body turns up in a New Jersey landfill.

This plan clearly benefits someone — the value of the cryptocurrencies Trump mentioned spiked after the announcement — but because cryptocurrencies are anonymous, we don’t know who got rich. It could be donors, foreign interests, or Trump family members — the only thing we know is that it was somebody terrible. Plus, someone placed a highly leveraged $200 million purchase right before Trump’s announcement, so there’s probably an old-timey insider trading scam happening alongside this Digital Age scam-of-the-future.

Another likely beneficiary is the guy who told Trump to do this: David Sacks. You may know Sacks as the ardent Trump backer and frequent repeater of Kremlin talking points whom Trump named as his “Crypto Czar”, with the “Czar” part really making sense given Sacks’ beliefs. Sacks says that he sold all of his cryptocurrency before Trump took office, but we can’t verify that, because crypto is anonymous. We do know that Sacks’ venture capital firm — the stake in which Sacks has not said that he sold — invests in a crypto fund whose top five holdings are exactly the five cryptocurrencies that Trump wants the government to buy. Sacks is a really lucky dude! It’s like if I was named Blog Czar and then got the government to buy a billion I Might Be Wrong subscriptions, and to be clear: President Trump, that offer is very much on the table.

Molly White also has a few things to say on the subject, with less satire and more technical expertise.

Given the raging corruption coming from the top of the party, is it any surprise that US Senator Joni Ernst (R-IA) has cozy relationships with the military contractors her committee regulates?

Meanwhile...

• The S&P 500 index of large stocks fell 2% yesterday and 3.5% over the last week as the OAFPOTUS started the stupidest trade war in history with our three biggest trading partners.
• Who could have guessed that China's and Russia's foreign-intelligence services have ramped up efforts to recruit US government workers, now that so many of them are legitimately disgruntled? Who indeed.
• American Airlines has cut hundreds of flights from its summer schedule because of the Clown Prince of X illegally firing thousands of government employees.
• Yascha Mounk does not completely understand the new world order yet, but it seems clear to him that we're in a truly historical transition.
• Paul Krugman interviews Nathan Tankus, an expert on the COBOL code that runs the Federal Reserve and Treasury.
• Charles Marohn is infuriated by the OAFPOTUS rescinding Federal approval for the New York City congestion pricing plan, even though he found flaws in its implementation.

Finally, I was pleased to see that Amazon and MGM Studios have started development of a TV series based on the first novel in Iain M Banks' Culture series, Consider Phlebas. It's a fun novel, and a good introduction to the series—which makes sense as it's the first one he wrote. I hope it gets to production.