2nd week in a row he has tried to crash the market over the weekend for Monday morning.
I’m guessing all his hedge fund asshole/twat stain friends already purchased their puts and agent orange is providing the catalyst.
this post was submitted on 10 Feb 2025
325 points (99.1% liked)
politics
20298 readers
5330 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 2 years ago
MODERATORS
I think the "freeze all federal spending" from a couple weeks ago could also qualify.
What was the previous attempt? I'm falling behind in this gish gallop.
Tariffs
Last weekend it was the Mexico/Canada “25% tariffs” that he pussied out on and reversed his decision on both countries by Monday morning.
Just as a note Tariffs are back on (but only for steel/aluminum).
load more comments
(3 replies)
Assuming he doesn't talk that back really fucking quick that'll literally implode the bond market.
My guess is that this is just him leading up to trying to refuse payment. A few days is hardly enough time to make any real assessment of the debts the treasury services, but all he has to do is say words and the rest of the idiots fall in line.
And the Democrats present a New Deal in 2028
Too bad they had Manchin piss away all their credibility for them.
load more comments
(1 replies)
Or start a war.
A lot of countries have defaulted without doing that. I'm a lot more concerned that it'll cause an interest rate spike, with associated stock market crash, and bring on a sharp cut in business investment and employment.
Countries are already looking for alternatives to trading with America, the felon is speedrunning Brexit along with everything else.
This breaks the economy.
If the US defaults on its loans, its creditability drops, which will probably destabilize the global value of the US$. China and Russia will benefit most. Every nation with financial ties to the US will suffer for it.
When trying to understand why certain decisions are made, follow the money. Donald Trump is a foreign asset.
If you mean he is working for them... nah. He wouldn't do what they ask, or would screw it up. They get smarter people to manipulate him into doing things in thier favor. I suppose that could be called a foriegn asset to. Not sure though.
Russia has already defaulted on some loans. China's second biggest trade partner is USA (EU is first but trade is more balanced between the two than USA), so this would hurt China greatly as well.
Seems to me EU would benefit the most.
Something most people don't get is that China holding a significant portion of our debt gives them an incentive to protect USD. By defaulting, there is no reason for them not to do everything in their power to destroy USD. This is literally the only meaningful economic tool the US has and he wants to devalue it.
So for those unaware. If followed through this would be the biggest economic crisis worldwide, since the great depression. No hyperbole.
US treasury bonds are the way the US government borrows money. They are most of the debt. They are also the "safe asset". Because it was assumed that the US, being the sole superpower and the biggest economy, would always pay back its debts. Because of this whenever organizations needed to park money super safely, they would use US government bonds.
Around 30 trillion worldwide, that is 1/3 of the world's GDP, is held in US bonds.
You know who the biggest borrowers of US debt are? Pension funds. And you know the biggest one of all of them? Social Security. US social security holds around 3 trillion of US debt. Debt that would suddenly be worth nothing anymore.
In total, around 27 trillion of treasury bonds are held in the US by pension funds, local governments, etc. These would be gone.
Other countries would suddenly lose 3 trillion, biggest of which are Japan, China and the UK. Belgium Luxembourg and Switzerland hold a huge share compared to their economy, and could collapse completely.
But hey, at least the national debt is gone, right?
Well.. No one would borrow the US money anymore. Who would trust them anymore? Likely, this would be the end of the USD as the worlds reserve currency. With that, I doubt military spending could be upheld. The US would collapse as a superpower.
Every avenue they are speed running self immolation. I'm pretty convinced they want to burn this country down so they can rebuild it in their images. A narcissist and foolish lot. We won't be able to weather this storm. Other nations aren't going to just sit by while we're down. Somebody will take advantage of the situation but it isn't going to Trump, Musk, Thiel, et al.
Burning the US down to divvy it up amongst themselves so they can run their own little technofiefdoms is all but their stated goal. They're talking about network states and crypto-resever currencies, and salivating at the prospect of having entire populations that they control outright to be the grist for their techno-futurist fantasies of being the sole owners of the cyberpunk dystopian mega corps.
"We are proud to announce that we have created the Cyberpunk future from 'Please Don't Create This Cyberpunk Future'."
load more comments
(1 replies)
God, the US would collapse as a country. It runs a huge deficit, what would it be without the dollar?
Trump coin run through X of course lol.
load more comments
(10 replies)
... Trump seems to be basing this on some analysis from the DOGE boys. This appears to have been one of the DOGE boys’ main goals at Treasury, getting access to details about what kinds of payments Treasury makes, the answer being close to everything the U.S. government does outside of the Pentagon and some of the Pentagon stuff too. The Treasury also services the U.S. debt, which is what we’re talking about here. I’m less clear on what access to which part of the Treasury Department these guys could have gotten to get information about how the Treasury Department sells and services Treasury notes. But all that detail aside, imagine thinking that by downloading a ton of data and having a few days to analyze it you could make the determination that a significant amount of the U.S. national debt wasn’t real and didn’t have to be paid. It’s hardly the craziest thing we’ve seen over recent days. But it’s still worth noting how nuts that is.
I'm lost for words.
I disagree with that author, this is definitely one of the craziest things seen in recent days. This is on par with going to war with Canada as one of the quickest ways to speed run the demise of the US... It probably would be quicker. Debt can be downgraded overnight, war takes time.
load more comments
(1 replies)
He's trying to crash the dollar for cryptobros. Or Putin.
He either crashes the economy or putin releases the pee tape.
This could trigger a Minsky moment. And a world wide financial meltdown. Then he'll just say haha just kidding. Once that genie is out of the bottle though, there's no going back.
Elon won't say anything until Minsky starts to screw him over
Why would he even say this? Usually there's a pretty clear motivation to his lies but this one just seems suicidal
At this point I'm pretty sure destroying the country is the point. I would not be the slightest bit surprised to hear he has muskrat whispering in his ear about buying literally everything after the collapse.
Wouldn't completely destroying the economy make their billions near worthless as well?
They're high on their own supply. A lot of these techbros seriously believe they'll be new monarchs after societal collapse.
Depends on how much money they have in assets other than $USD.
load more comments
(1 replies)
"I have reduced the US's debt by X" claims are one potential option. It could also be any other number of things.
It's yet another barganing chip he is trying to create. Somebody with these things doesn't do what he wants, he just declares the ones they have are fake. Person, country... as others have pointed out, this will tank the value of them as well, and probably trigger inflation. Both of which in a way reduce the federal debt so he can claim he did that. It just also causes a lot of much bigger issues.
Sort of funny that as soon as the greatest generation died their children, who were too stupid to understand what they had built, destroyed their empire
Boomers have never once in their miserable little lives understood that their favorite Facebook meme calls them the weak men.
I picked a fine week to give up sniffing glue.
i'm going to guess that this is somehow related to making money on cryptocurrency
load more comments
(2 replies)
Weapons-grade stupid. Crash global economy any % speedrun.
Maybe making money something everybody has to believe in was a bad idea
Quick! Everybody clap your hands and say "I do believe in T Bills!"
It was part of how we got out of the Great Depression — it transferred money from the owning class to people who had debts. We don't actually want to go back to gold (or any other non-inflationary currency) because it gets rid of the flexibility to do that, which part of how we prevent bad recessions from turning into deflationary recessions.
In any case, having fiat currency, or not, is a separate issue from whether the US will actually pay its debts as promised. And it's the debt payment that Trump is putting in question.
load more comments
(6 replies)
Ha, if that were true, Monday markets will be such a blood bath those of us without publicly traded industry or non profits will be fucked too
It seems like Elon is controlling Trump even in this. Isn't devaluing to swing markets an Elon move? He probably wants to sell a bunch of stock and simply trying to crash the EV market wasn't enough if a wave for him to become the first trillionaire. Crashing the dollar it is I guess?
The 14th Amendment clause about debt validity exists precisely because of this flavor of posturing oligarchs – now we’ve got bargain-bin John Galt cosplayers auditing T-bills between meme stocks. Trump’s “irregularities” schtick is just sovereign citizen logic scaled to national debt levels, complete with DOGE bros LARPing as forensic accountants.
Declaring chunks of debt illegitimate isn’t fiscal policy – it’s a wealth incinerator disguised as a spreadsheet error. Markets would implode if taken seriously, but the real damage is normalizing this circus as governance. Treasury raids morphing into TikTok challenges where the prize is collapsing the dollar’s reserve status.
Constitutional bedrock becomes optional when your economic advisors mainline 4chan threads. The only “irregularity” here is the cognitive dissonance required to bankrupt a superpower for clout.
view more: next ›