Bitcoin Forum

https://thehill.com/business/4861677-goldman-sachs-trump-impact/


I get that there are some--especially foreigners--who don't know much about present-day US politics and only know that in decades past that the Republican party was the "conservative" party, and the one that typically made things better for business here.

That's not the case anymore. Trump is promising radical change to the US economy, and changes that could send the US economy--and thus the price of Bitcoin--into the toilet.

Periodically, Trump's future looks a little grayer. Kamala Harris is moving ahead in various survey and popularity and the support of former high profile people is increasing. But much of politics is still left.

Trump started a fierce trade war with China. It was believed that it was the US that was making the Chinese economy blossom, so Trump needed to reduce their global economic influence. He imposed more taxes and encouraged American industries located in China to relocate to the US. He believed it would create more jobs and bring the Chinese economy to its knees.  I don't know how far this policy went but I think he was securing the US economy. If the US can seek other trading partners, it will be good because there is no end in sight to the war between China and the US.

Trump's immigration policy is weird. The US will also need immigrants because it has a very big economy. Deporting immigrants will affect the workforce negatively. The US should focus on the war against narcotics and make flexible immigration laws. I prefer Harris' immigration policy because it represents the ideals of American society.

It may be a little bit conspiratorial from me, but there is a theory which says the Republican party is seeking to make people from the United States to lose access to planned Parenthood and thrus, increasing the population of people who are already part of the nation, reducing dependence of the USA economy of inmigrants.
Though, it is something which has not been completely checked as a fact, so it remains as speculation.
Trump's plan for the USA is basically turning into an isolationist state, which is pretty much contrary to what the United States have stood for from the beginning, I also believe it would be almost impossible to reach such a point in which USA would not be so dependant on China, after all the USA market likes to have all that cheap labor and technology at their disposal.

I think quite the opposite, Democrats are hostile towards Bitcoin & always have been. It’s far mote likely that Bitcoin will be allowed to prosper under a Trump administration. He promoted growth & capitalism, it’s the total opposite if Kamala wins. The problem is we look like a recession is coming regardless of who wins in November.

Actually, in Trump's first presidency, he didn't do anything at all significant with China: he was constrained by Congress and didn't control his party like he does now.  In fact, Biden has been tougher on China and Trump ever was.

Trump and his economic team are taking it to the next level this time, and it has nothing to do with economics, and everything to do with "cultural issues": he needs to show his voting base that he is going to make "those people" suffer.

Tariffs are a tax, plain and simple. Trump wants to raise them.



Nope, that doesn't work since Republicans are against every other policy that would increase or population--say like other countries are doing--such as subsidizing young parents who want children. Only the Democrats are doing that.

Regardless, Trump is talking about deporting 11 million people immediately and any kind of policy solution to population would take at least 30 years to have any real effect. The US is net-negative in population growth without immigration, and these days all developed economies work the same: the young pay for the retirements of the old. A negative population spiral--which is what the Republicans would achieve--would spiral our economy downward too (hence my analogy above of the... toilet).


Bitcoin went up 500% under president Biden. If they are supposedly "hostile", then they would not be the case. The US has the most hashrate, and most retail investors into Bitcoin.

Trump did not "promote growth and capitalism", and there again you are simply substituting the now-obsolete "Republican" brand for actual present-day evidence. The Republicans are a nationalist party, not an economically conservative one.

Harris, on the other hands, spoke of promoting small business yesterday, allowing people who create new businesses to write off the first $50k in order to get started. That sure doesn't sound very "socialist" to me. Instead it sounds like a politician trying to solve actual problems of growing our economy.

During Biden's term, the US economy has had the highest inflation in 40 years and so far, they have not solved any problems, even the fear of recession is covering the entire world economy. The Biden administration has failed and left a weak economy for the next administration. So I think the US economy needs a breath of fresh air if they want to recover and improve the situation instead of continuing to let the current administration run and things will only get worse.

Regarding bitcoin, there is no doubt that if the Democrats continue to run the White House, we will continue to get more hostile regulations from them instead of more open policies. The crypto industry also needs a breath of fresh air, a better catalyst and Trump is a better choice.

Always the OP picks on Trump by not looking at the rest of the program.

High tariffs on imports might make it so that people will lose access to foreign products. But that is good. Why? Here's why.

Trump is going to reduce regulations on American manufacturing, etc. This means that we will be more able to make our own products.

Why is it good for us to make our own products? Then we can export them and make money off foreign countries, rather than them making money off us. In addition, we will become stronger by being able to support ourselves in every way, rather than having to wait on the whims and wishes of foreigners.

People who are out of money in places like Frisco and LA will be able to start their own business as regulations decrease. Banks and other lending houses will loan them the money to fulfill their manufacturing dreams. The American Dream will pick up steam, again.

Why do women want abortions? They don't, really. They wish they could securely sit at home and raise their kids. That's what their body machinery is built for... making and raising children. The major reason why they want abortions is because they don't have time to take care of children with their need to support themselves - and maybe their husbands - in a job.

Having a husband who can bring in sufficient funds from his job or business will allow these women to stay at home and raise the children. This is part of what Trump is pushing into being. With a secure family life, women won't want abortions any longer. The abortion issue will be solved, automatically.

Wake up and see that Trump is supporting women nationwide while his opponents are generally 'raping' them for money-making purposes.

8)

Biden inherited that inflation from Trump and COVID, which clearly disrupted the economy of the whole world, not just the US.

Then Biden passed the Inflation Reduction Act.

Now US inflation is back to normal levels.

And US unemployment is bouncing off of all-time lows.

And Bitcoin is up 500% since Biden was elected.

The choice is simple:

If you want illegal abortion then vote for Trump.

If you want a strong US economy then vote for Harris.

You neglect three major items:
1. Covid, which caused all kinds of turmoil for everybody. So stats can't be accurate and normal;
2. Biden/Harris stats are lies. You can tell just by going to the supermarket if nowhere else;
3. Because Trump is trying to bring strength back to America, and because many in Congress are invested in foreign countries and don't want America strong, they fought Trump tooth and nail. You can see it in the Florida raid and in the silly NY trials.

In other words, there is no way to properly assess where the strength is. But if you want truth, you need to start by stopping your lies.

8)

Does Kamala has what it takes to stop or ameliorate what is coming for the US economy?

We don't know that yet about Trump's proposed policies what the resultant effect would turn out to be for the US economy, but if we're to go back in time when he was the President his policies where bettering the lots of America in diverse ways both home and overseas more than I can say the Biden administration had done over the years. Consequently if we are to juxtaposition any of the two parties involved in terms of support for bitcoin's growth, the republicans seem to have a favourable history with bitcoin.

The exact opposite is true: Bitcoin went up 500% under president Biden. That is, it appreciated by 800 billion dollars. No US president has anything close to that record.

You should stop repeating this nonsense because the price of bitcoin has increased millions of times since 2009 until now, not just during Biden's term. And once again, another bull run is coming, no matter who wins the presidential election, there is no stopping it and it cannot be said that they are the ones who helped the bitcoin price increase. But having a pro-crypto president will push things faster and stronger, and that's why people support the pro-crypto candidate instead of voting for the anti-crypto one.


Everyone knows that during Trump's 2016-2022 term, the US economy has had significant growth, we should not deny his achievements. But things suddenly got tough when the covid pandemic hit and unfortunately for Biden he had to deal with the aftermath of the covid pandemic.


To be fair, Trump is better than any Democratic candidate at boosting the economy.

I'll stop correcting the record when people stop lying about Biden's supposed ill-effects on Bitcoin.



Both candidates are pro-crypto. Bitcoin went up $800 billion under president Biden.



For starters, Biden was president in 2021 and 2022, not Trump...



There is simply no evidence of that, and the top economists in in the world--the ones who advise people making billions of dollars in decisions--are saying that Trump's massive tariffs and mass deportation of 11 million American residents will absolutely devastate our economy.

But please, do tell: exactly what do you suppose is going to happen to the US construction industry when a huge chunk of it's workers are deported?

What will happen to the price of food in the US when a huge chunk of crop workers are deported?

What will US inflation look like when our lowest-wage workers are plucked from their homes and sent away?

What will happen to our economy when the US government levees 10% across-the-board tariffs on all imported goods, and 30% tariffs on all Chinese goods? What will happen when China and other countries retaliate, which they are sure to do, triggering a global trade war?

Obviously you have thought this all through carefully, so tell us: why are the "so-called economists and business people" wrong, and the guy who lost half of his inheritance from his father and bankrupted several companies right?

This policy as a whole will save America and will continue to show itself only in the best possible way.

There's been a big difference between the Republican presidential candidates and the democrats presidential candidates. Making reference to Trump and Hillary years back; while Trump was making policies to strengthen America, as evidenced in his slogan "Make America great again". Hillary in the other side was focusing on the policies that spans across the whole world.

As at then, Americans needed a president they will call yours and they voted Trump. It seems same scenario is playing out. Strict migration laws might favour only Americans at the detriments of other countries.

Isolationism is, as has been proven time and time again, a stupid economic policy that weakens your own country, too.

Most Democrats and Republicans used to agree on that. It's only recently that the Republicans elected a racist as its president that they have rearranged their view of these bedrock principles of economics. The Republican view on economics these days is purely based on the culture wars, not on making the country more prosperous.

^^^ Individual isolationism is freedom from the warmongers and money-mongers who want to control everything, but don't have the foggiest idea of how to control themselves. Stalin is a good example of that.

Trump doesn't have isolationism in mind. What he has in mind is joint freedom of Americans from the control of the warmongers and money-mongers. And his proposed policies would set that in place by replacing the Federal income tax with Federal tariffs on foreign imports.

These Trump policies would almost force Americans to become strong by allowing them to produce their own products for themselves, and to export around the world.

That isn't isolationism. That's making and keeping America the world leader. Why? Because American ingenuity is greater than the ingenuity of almost every country.

How do we know? Because America is the leader right now... although she is the leader-in-decline. All that Trump policies would do is make America increase rather than decline.

8)

Are you aware that companies from the United States make their products in countries like Mexico or China to make more money out of them, since salaries in USD in those developing countries are very lower compared the the minimum wage of someone living in the United States and working legally? People on those countries work many hours and are paid very less than you could get paid.
In order for that idea to even work it would require to make products more expensive through tariffs, to the point it becomes cheaper to make them within the United States, though that would hurt anyways the buying power of all people within the country.

Also, according to Trump tariffs does not make products more expensive (which is a ridiculous thing to say, at the very least), still you seem to admit they do and it would force American companies to move back their factories onto USA soil to produce their products, instead of doing it in China and pay tariffs.

If the American people could not purchase the products from other nations because these products cost too much (tariffs), what would they do? They would make their own, if they wanted them... especially if Trump reduced regulations - as he promised - so that they could.

Guess what would happen if government didn't get enough money because tariffs were so high that people couldn't buy products from other nations? Government would lower tariffs until there was a balance between what people bought from other nations and what they manufactured themselves.

The whole thing would cause free trade among all nations, and would stop the giving of money to Elite who are misusing their money-power.

The results would be the same as is currently happening, except that there would be FREEDOM for people around the world, fewer wars - because it is only the leaders who want wars - and far fewer deaths, which are happening because of the wars.

If you like it the way it is, it's because you are an Elite money-maker, and a warmonger.

8)

In case anybody was wondering, yes, this is the sort of ideology that Trump and the Republican party stands for now. Forget everything you know about "Republicans" and "Conservatives" and so forth. This is a new party with new goals.

These people used to be called "hippies", and now they are called, "Republicans". They don't care about the US doing better economically, and they are perfectly fine to bring the US to financial ruin if that's what it takes to achieve their "culture war" objectives of "Make America White Again" or whatever.

I know this is very hard for foreigners to grasp since they only get the highlights of US politics once every few years, but please understand that things have changed here and the "pro-business" party is now called, "Democrats".

The problem with your thinking is that a whole bunch of pro-business leaders don't understand or adhere to the principle of "Enlightened Self-Interest." They are dumb as a rock in a bunch of ways, outside of the one little niche in which they make their money. This is the Dem leaders, most of whom don't even understand how the Federal Reserve Bank system is ripping them off right and left.


Let me explain it again.

If Trump shut down the Federal income tax, government couldn't borrow any more money from the banks. Why not? Because it is the amount of income tax (IRS tax) collected that determines how much money government can borrow (create) from the banks.

With the Fed not getting any more funds from the people, it might sue the government for repayment of what the government owes. Then it will be up to government to simply print more to repay - the Treasury has that right - or to shut the Fed down so that their suit amounts to nothing.

In the Revelation in the Bible, Babylon is shown to be the banking system. As things stand, now, it's the Federal Reserve Bank system. The Rev says that it will crash in one hour. With Trump coming into office, this could happen with the removal of the IRS tax.

Most of the people want this, even if they don't realize that they want it. It will give them FREEDOM... from bank debt. In addition, they will be able to control the government's printing of money better than they can control the Fed. And the US can come under Constitutional forms of money printing, again.


Trump's policies are great. And even you won't lose anything... especially if you borrow yourself into big debt right now, before the debt of what you borrow is cancelled along with the cancellation of the Fed.


8)

No one denies that bitcoin has grown under Biden but you need to understand that bitcoin growth is cyclical. Similar to what is going to happen, if history repeats itself, whoever becomes president, bitcoin will continue to grow. But the problem is that during his time in office, Biden has repeatedly made proposals that are unfavorable to cryptocurrencies as well as appointing Gary as SEC chairman. I don't need to explain much, you can see how much the whole crypto community hates Gary and he is representing Biden against the crypto industry.


Currently, only Trump has publicly stated his support for cryptocurrencies, Harris has not made any similar statements. Just because she accepts crypto donations through PAC doesn't mean she's pro-crypto.

Economically, I think everyone knows who is better. It's just that you are stubborn and refuse to accept the truth, so even if I give you more evidence, you will still deny it.

I don't really think this will be so because the evidence is seen with his first time in office, where the US economy bounced back and became the largest economy in the world in terms of GDP growth, So coming to this second term ,I doubt if he wouldn't even make it more better after standing aside and watching for a period of 3 years plus now, we saw him build walls during his first administration to try to stop immigrants, but didn't stop the US economy from booming, as the economy does not only rely on immigration policies to soar.

"Everybody" in your mind means, "those who want abortion to be illegal in the USA and want to eliminate immigrants from our country".

I have made a clear and strong case as to why Trump will be terrible for the US economy, and terrible for Bitcoin. But those who want Trump for other reasons will not hear any rational argument. Trump is a convicted criminal, but you believe every word he says anyhow. Trump was a terrible businessman who lost half of his inheritance, but you believe he is a genius. Trump can't even finish a coherent sentence anymore, yet you trust him with your very life.

That's what ideology does to people: you ignore the facts, you ignore the evidence, you ignore the world's top economists: you just want Trump and nothing else because abortion, etc.

To elaborate on legiteums point...

By everybody, you mean everybody who is uneducated, which is, and this is not a coincidence, Trumps strongest demographic.

Wall Street is not uneducated though.  And when Trumps chances of winning increase, so does the spread on 2 and 10 year bonds.  After Bidens debate disaster the 10 year shot up over 20 basis points for example.  Then dropped when Kamala was surging in polls.

All this means that the market is assuming if Trump wins then interest rates will be low in the short term and high in the long term, Trump makes the curve steeper.  The tax cuts and tariffs are expected to put more money in peoples pocket and increase prices, and deporting millions of undocumented US workers will kill the labor market, which already doesn't have enough workers.  Also, just like he did right before covid, they expect him to apply pressure on the fed to cut rates for political reasons despite the economy booming, (which it will be in the short term) - which means when warning signs start to appear there's less they can do because the cuts already happened.

Basically, it's clear to 'everyone' that Trump cares about making a booming economy for a couple years so he can take credit and say 'told ya so'.  He doesn't give a fuck what it will look like in 10 years.  (He did the same thing to Atlantic City.  Build a bunch of casinos with other peoples money, have glorious grand openings, take profit, scam all the contractors, declare bankruptcy and peace out.)

Luckily for Trump all of his followers eyes glaze over whenever this argument is made before responding with something like hunter bidens laptop.