{"id":42313,"date":"2025-05-23T21:25:40","date_gmt":"2025-05-24T02:25:40","guid":{"rendered":"https:\/\/huewhite.com\/umb\/?p=42313"},"modified":"2025-05-23T21:25:40","modified_gmt":"2025-05-24T02:25:40","slug":"strip-mining","status":"publish","type":"post","link":"https:\/\/huewhite.com\/umb\/2025\/05\/23\/strip-mining\/","title":{"rendered":"Strip Mining"},"content":{"rendered":"

Back in January I mentioned, and haphazardly analyzed, the Trump memecoin<\/a>, a species of cryptocurrency:<\/p>\n

But the big news of late was just-now-President Trump has his own cryptocurrency, called $TRUMP, which may cause illness in those aware that President Trump allegedly grew up in a prosperity theology church. Maybe he figures inadvertent chanting of \u201c$TRUMP\u201d will bring him more money?<\/p><\/blockquote>\n

And so what’s been happening? WaPo<\/strong><\/em> has the analysis<\/a> from a couple of weeks ago:<\/p>\n

At least 67,000 new or small-time crypto investors like Davis have bet on Trump\u2019s meme coin, pouring $15 million into the volatile venture endorsed by Trump and benefiting his personal wealth, a Washington Post analysis found.<\/p>\n

But virtually all of them bought near the coin\u2019s peak, just before the inauguration, and 80 percent of them have seen the value of their holdings nosedive, The Post\u2019s analysis shows. One buyer who spent $10,000 has already lost, on paper, more than $8,000.<\/p><\/blockquote>\n

The President and his team?<\/p>\n

The losses point to the risks for Trump supporters and crypto speculators eager to bet on the loosely regulated venture of the self-described \u201cfirst crypto president.\u201d But they also draw a stark contrast with the president\u2019s team, which has made millions in trading fees from transactions for the meme coin, even when its value goes down.<\/p><\/blockquote>\n

Welcome to the con, folks. People with money to the right, people without will please leave through the door with the attached automated boot.<\/p>\n","protected":false},"excerpt":{"rendered":"

Back in January I mentioned, and haphazardly analyzed, the Trump memecoin, a species of cryptocurrency: But the big news of late was just-now-President Trump has his own cryptocurrency, called $TRUMP, which may cause illness in those aware that President Trump allegedly grew up in a prosperity theology church. Maybe he \u2026 Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-42313","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/42313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/comments?post=42313"}],"version-history":[{"count":1,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/42313\/revisions"}],"predecessor-version":[{"id":42314,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/42313\/revisions\/42314"}],"wp:attachment":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/media?parent=42313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/categories?post=42313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/tags?post=42313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}