Opinion: Trump will pay off the national debt during the re-election campaign

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Hulohot

Banned
Jan 1, 2019
104
User banned (permanent): Trolling. Account in junior phase.
First of all, this is my first ever thread on Resetera, after browsing and rarely posting since it's creation! Hello everybody, and please be gentle... I understand the topic of Trump probably isn't a great topic for my first thread.


I have a pretty good idea how this thread is going to go down, but I just want to clarify a few things first.


I am from England, so perhaps I have no business making comments on this subject.


I am not for or against Trump. That is not what this thread is about.


Whatever I am about to post is going to seem ridiculous to most everyone, but I assure you it is not unfounded. I figure most of the replies will be how I am wrong and will never happen.


I am going to try and keep this as short as possible.


Part 1:


Trump has been stating recently that he has found a solution to a problem that nobody would even think possible, which if I recall was at the State of the Union address a few weeks ago.


Trump (and many other world leaders) have been using the term "level playing field" in relation to the global economy for a while now


I believe the problem Trump has solved is the national debt.


Part 2:

Enter Blockchain infrastructure company Ripple, and the XRP digital asset.

Ripple have been quietly engaging with the highest levels of finance and government for years now, with ties to the White House, federal reserve, the IMF, world bank, bank of America/England, I could go on. The Ripple CEO Brad Garlinghouse has sat and spoken at high level meetings at Davos 2020, The High Level Economic Club of New York, The Global Forum to name a few, and has been in high level meetings alongside Christine LaGarde (now president of the European Central Bank) speaking to leaders of Central Banks.

I could continue with this but I want to move on. The point is, they are extremely well connected and recently were valued at $10 billion, the second highest fintech company in Silicon Valley.


Ripple utilises Blockchain technology to speed up financial systems around the world which are currently using 1970's technology for cross boarder payments. Their interledger protocol utilises the digital asset XRP to send payments cross currency in seconds, at the cost of fractions of a penny. The plug and play software is called On Demand Liquidity.

One company sent $50 million cross border using the XRP ledger and it arrived at its destination in 3 seconds, at the cost of 0.30c.

To sum up, this is powerful technology for global finance and it is currently in utilisation phase, with MoneyGram using it right now for payments from the U.S to Mexico and many more smaller banks worldwide using its On Demand Liquidity.


Part 3:

This is where things get tin foil hatty.

The supply of the XRP token in 100 billion, with half of that supply currently locked away in escrow, releasing 1 billion a month into circulation.

There is evidence to suggest that a large portion of that escrow is actually pre allocated to government institutions that are currently partnered with Ripple.

It is also apparent that large whales of unknown identity have been accumulating XRP in the billions over the past few years.

The idea I am putting forward is that the Trump administration and the federal reserve have been purchasing and recieving large amounts of XRP with the intention of (with the support of the IMF, World Bank etc) RAISING or inflating the value of the XRP token until their holdings are worth significantly more than the defecit, and then utilising their valuable holding to pay off or collateralise the debt. Issuing valuable XRP to countries they owe money to will wipe the debt slate clean and level the financial playing field.

The final icing on the cake here is that Ripples Interledger Protocol will be playing a big part in the already quietly announced NEW global payments system ISO20022, which will go live in November 2021 In what the European Central Bank published as a Big Bang Cutover style event, where everyone must migrate onto this new fintech and digital asset enabled global payments system.

It is thought that XRP will be the fuel that powers this new payments system, and in order to have the Liquidity to settle payments globally the XRP token must be a high price.

Inflating the value of XRP to fix the national debt of the U.S also acts as two birds with one stone, because this increase in value will then allow the Interledger protocol enough liquidity to fuel a new global payments system which has been developed by Ripple in cooperation with the IMF.

This is what I believe is happening, and I believe it will lead to the re-election of Trump.

However I am likely wrong, as I know you are all about to tell me!

I apologise in advance if this topic has upset anybody. I'm hoping it becomes a discussion point rather than a hostile debate.
 

HStallion

Member
Oct 25, 2017
33,859
So TLDR Trump invests in block chain and a new cryptocurrency and then hopes to game the system it to pay off trillions of dollars in national debt. Yeah you should expect some great replies with this line of thinking.
 

Arkestry

Member
Oct 26, 2017
2,621
London
First of all, this is my first ever thread on Resetera, after browsing and rarely posting since it's creation! Hello everybody, and please be gentle... I understand the topic of Trump probably isn't a great topic for my first thread.


I have a pretty good idea how this thread is going to go down, but I just want to clarify a few things first.


I am from England, so perhaps I have no business making comments on this subject.


I am not for or against Trump. That is not what this thread is about.


Whatever I am about to post is going to seem ridiculous to most everyone, but I assure you it is not unfounded. I figure most of the replies will be how I am wrong and will never happen.


I am going to try and keep this as short as possible.


Part 1:


Trump has been stating recently that he has found a solution to a problem that nobody would even think possible, which if I recall was at the State of the Union address a few weeks ago.


Trump (and many other world leaders) have been using the term "level playing field" in relation to the global economy for a while now


I believe the problem Trump has solved is the national debt.


Part 2:

Enter Blockchain infrastructure company Ripple, and the XRP digital asset.

Ripple have been quietly engaging with the highest levels of finance and government for years now, with ties to the White House, federal reserve, the IMF, world bank, bank of America/England, I could go on. The Ripple CEO Brad Garlinghouse has sat and spoken at high level meetings at Davos 2020, The High Level Economic Club of New York, The Global Forum to name a few, and has been in high level meetings alongside Christine LaGarde (now president of the European Central Bank) speaking to leaders of Central Banks.

I could continue with this but I want to move on. The point is, they are extremely well connected and recently were valued at $10 billion, the second highest fintech company in Silicon Valley.


Ripple utilises Blockchain technology to speed up financial systems around the world which are currently using 1970's technology for cross boarder payments. Their interledger protocol utilises the digital asset XRP to send payments cross currency in seconds, at the cost of fractions of a penny. The plug and play software is called On Demand Liquidity.

One company sent $50 million cross border using the XRP ledger and it arrived at its destination in 3 seconds, at the cost of 0.30c.

To sum up, this is powerful technology for global finance and it is currently in utilisation phase, with MoneyGram using it right now for payments from the U.S to Mexico and many more smaller banks worldwide using its On Demand Liquidity.


Part 3:

This is where things get tin foil hatty.

The supply of the XRP token in 100 billion, with half of that supply currently locked away in escrow, releasing 1 billion a month into circulation.

There is evidence to suggest that a large portion of that escrow is actually pre allocated to government institutions that are currently partnered with Ripple.

It is also apparent that large whales of unknown identity have been accumulating XRP in the billions over the past few years.

The idea I am putting forward is that the Trump administration and the federal reserve have been purchasing and recieving large amounts of XRP with the intention of (with the support of the IMF, World Bank etc) RAISING or inflating the value of the XRP token until their holdings are worth significantly more than the defecit, and then utilising their valuable holding to pay off or collateralise the debt. Issuing valuable XRP to countries they owe money to will wipe the debt slate clean and level the financial playing field.

The final icing on the cake here is that Ripples Interledger Protocol will be playing a big part in the already quietly announced NEW global payments system ISO20022, which will go live in November 2021 In what the European Central Bank published as a Big Bang Cutover style event, where everyone must migrate onto this new fintech and digital asset enabled global payments system.

It is thought that XRP will be the fuel that powers this new payments system, and in order to have the Liquidity to settle payments globally the XRP token must be a high price.

Inflating the value of XRP to fix the national debt of the U.S also acts as two birds with one stone, because this increase in value will then allow the Interledger protocol enough liquidity to fuel a new global payments system which has been developed by Ripple in cooperation with the IMF.

This is what I believe is happening, and I believe it will lead to the re-election of Trump.

However I am likely wrong, as I know you are all about to tell me!

I apologise in advance if this topic has upset anybody. I'm hoping it becomes a discussion point rather than a hostile debate.
Isn't the national debt at $22 trillion? That means they'd have to inflate the value of XRP by 220 times, and that's if they controlled the entire supply. That doesn't seem remotely possible.
 

HStallion

Member
Oct 25, 2017
33,859
So why do people think blockchain is like some magical panacea for all the world's problems? I'm not saying its not useful but I've seen people thinking blockchain is gonna cure cancer to solving world financial problems.
 

Dude Abides

Member
Oct 27, 2017
2,227
thats not how the national debt works. we cant just pay off treasury bonds before they come due.

I don’t follow the rest of the technobabble.
 

Aurongel

Member
Oct 28, 2017
3,676
That information on Ripple is definitely new to me and sounds very interesting. As for Trump’s motives, I don’t see his base of support being hungry for that type of financial move. The GOP has been moving away from Reagan era messaging like “paying down the national debt” for some time now. I don’t think that strict type of fiscal conservatism is a popular platform for them anymore. Therefore, I fail to see why it would make sense for them to leverage it during his 2020 campaign.
 

A.By

Member
Oct 25, 2017
3,685
"I am not for or against Trump."

Well that's your first mistake right there :v
 

The Albatross

Member
Oct 25, 2017
12,778
OP I appreciate your interest in American politics as an outsider and that you're taking an out-of-the-box approach and a unique take on American politics.

But this is ridiculous on it's face.
 

Ryuelli

Member
Oct 26, 2017
5,835
I don't think Ripple or Trump have a couple trillion lying around, and if they do that just means we have even bigger issues to attend to.
 
OP
OP
Hulohot

Hulohot

Banned
Jan 1, 2019
104
Can anyone say why not?

Forget what you all think of Bitcoin and cryptocurrency.

XRP is a different beast with real utility and Ripple have global institutions behind them.
 

Grudy

Member
Oct 29, 2017
1,303
You’re hinging all this on the fact that Trump cares about the national debt and will use all this money to pay it off instead of lining his pockets?
 
Oct 25, 2017
3,382
The first issue is that the national debt is absolutely gigantic and it's pretty much impossible to pay it off in a year, even with some silly bitcoin/blockchain scheme that you mention here.

The second issue is that nobody really cares about the debt and it's not a bad thing that debt exists. Conservatives understand this too, they just use the debt as a scary talking point to make people vote for them.
 

tyraniboah

Avenger
Oct 27, 2017
3,486
Don’t be terrified of the replies you’re going to get. But the idea that Trump 1.) is capable of properly utilizing this and 2.) is not using it to line his personal coffers is just absurd. You could convince everyone of the possibility that the government could pull this off, but you’ll never convince anyone that a Republican actually wants to pay off any debt (they keep increasing it while Democrats over the last 60+ years have to work to fix it), much less Donald Fucking Trump using any means of making a boatload of money for anybody but himself.

So no, fat chance.
 
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