Trump signs order for US Sovereign Wealth Fund

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nycfan

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“You’ve seen that over the last two weeks we’ve created more wealth, other people have created de-wealth, the people, my predecessors, we’re creating a lot of wealth …”

Bessent: “… we’re going to monetize the asset side of the US balance sheet for the American people …”
 
nycfan said:


“You’ve seen that over the last two weeks we’ve created more wealth, other people have created de-wealth, the people, my predecessors, we’re creating a lot of wealth …”

Bessent: “… we’re going to monetize the asset side of the US balance sheet for the American people …”
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Yes, people losing jobs because of the funding he has stopped has created more wealth.
 
“… A Sovereign Wealth Fund (SWF) is a state-owned investment fund comprised of assets such as stocks, bonds, real estate, or other financial instruments. These funds are typically established by governments to achieve specific economic objectives and are often generated from budgetary surpluses, foreign currency operations, proceeds from privatizations, governmental transfer payments and revenue generated from resource exports.

Key characteristics and purposes of Sovereign Wealth Funds include:

  • Stabilization Fund: To insulate the national budget and economy from commodity price swings or economic shocks.
  • Savings Fund: To build wealth over the long term, particularly for future generations.
  • Pension Reserve Fund: To cover future pension liabilities and ensure long-term fiscal health.
  • Development Fund: To fund social and economic development projects like infrastructure or education.
  • Strategic Investment Fund: To influence or acquire strategic assets that can benefit national interests.
Examples of prominent sovereign wealth funds include Norway's Government Pension Fund Global, Abu Dhabi Investment Authority and China's China Investment Corporation. …”

www.newsweek.com

Donald Trump orders start of a sovereign wealth fund: what to know

President Trump indicated on Monday that this fund could potentially be used to purchase TikTok.
www.newsweek.com www.newsweek.com
 

“… Sovereign wealth funds are commonin oil-rich, typically non-Western countries that run budget surpluses.

  • The U.S. has only run a budget surplus four times in the last 50 years, per federal data,most recently in 2001.
…
These funds typically run outside of the central bank's or finance minister's purview to keep it insulated from politics, per a recent analysis.

  • The Biden White House had also been looking into creating one of these funds, but it appeared the goal was to put money into investments in the national security interests — including technology, energy and supply chain.
  • Trump first floated this idea during his campaign.
… Creating such a fund would take Congressional approval — but, as the NYTpointed out last year, lawmakers would be skeptical about creating a fun that could circumvent their own power to approve federal spending. …”

 
nycfan said:

“… Sovereign wealth funds are commonin oil-rich, typically non-Western countries that run budget surpluses.

  • The U.S. has only run a budget surplus four times in the last 50 years, per federal data,most recently in 2001.
…
These funds typically run outside of the central bank's or finance minister's purview to keep it insulated from politics, per a recent analysis.

  • The Biden White House had also been looking into creating one of these funds, but it appeared the goal was to put money into investments in the national security interests — including technology, energy and supply chain.
  • Trump first floated this idea during his campaign.
… Creating such a fund would take Congressional approval — but, as the NYTpointed out last year, lawmakers would be skeptical about creating a fun that could circumvent their own power to approve federal spending. …”

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Why would Trump care about Congressional approval when he just stops funding without Congressional approval?
 
I’m curious when we have a surplus to fund this thing? Hahaha, yeah, no, we are light years from a surplus and headed for a huge tax cut.

But when Bessant talks about monetizing assets, I start worrying about national parks being auctioned off in some sort of private leasing scheme to create funds to plop into the account.
 
nycfan said:
I’m curious when we have a surplus to fund this thing? Hahaha, yeah, no, we are light years from a surplus and headed for a huge tax cut.

But when Bessant talks about monetizing assets, I start worrying about national parks being auctioned off in some sort of private leasing scheme to create funds to plop into the account.
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Calling it a tax cut is disingenuous.

We're headed for a tax restructuring that will lower revenue and shift the tax burden further onto the middle and working class as compared to the wealthy.

It's hardly a tax cut when most people are paying more in taxes.
 
nycfan said:
I’m curious when we have a surplus to fund this thing? Hahaha, yeah, no, we are light years from a surplus and headed for a huge tax cut.

But when Bessant talks about monetizing assets, I start worrying about national parks being auctioned off in some sort of private leasing scheme to create funds to plop into the account.
Click to expand...
Money is going to come from Elon illegally line item vetoing half the budget, and whatever is left over from what he and Trump siphon off.
 
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altmin said:
Money is going to come from Elon illegally line item vetoing have the budget, and whatever is left over from what he and Trump siphon off.
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And then buy twitter from Elon at like 86 billion
 
nycfan said:
I’m curious when we have a surplus to fund this thing? Hahaha, yeah, no, we are light years from a surplus and headed for a huge tax cut.

But when Bessant talks about monetizing assets, I start worrying about national parks being auctioned off in some sort of private leasing scheme to create funds to plop into the account.
Click to expand...
Yes but you haven't seen how cool Mt. Rushmore will look when there is a DraftKings Resort and Casino perched right on the top of it
 
nycfan said:
But when Bessant talks about monetizing assets, I start worrying about national parks being auctioned off in some sort of private leasing scheme to create funds to plop into the account.
Click to expand...
We are minutes away from them introducing a new kind of accounting to monetize stuff on the books to offset debt and spending. That's faster then an auction and more out of sight. "Playing with the Books 101" is always the first thing corrupt people do.
 
sringwal said:
You don’t find the creation of a fund like this, in conjunction with a Department of Government Efficiency to be just a tad Orwellian?
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It's not even Orwellian. It's just impossible. We don't have sovereign wealth. We have a $30T sovereign debt. The only thing we can fill the wealth fund with is more debt.
 
superrific said:
It's not even Orwellian. It's just impossible. We don't have sovereign wealth. We have a $30T sovereign debt. The only thing we can fill the wealth fund with is more debt.
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What is the supposed purpose of DOGE? What is the supposed purpose of this fund?

How is that not Doublethink?
 
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