Originally published at: New Labor Department Rule is Trump’s Latest Favor to the Crypto Industry
The U.S. Department of Labor has proposed a rule designed to make it harder to sue retirement plan fiduciaries that invest in risky, more volatile assets. The rule is also President Donald Trump’s administration’s latest giveaway to the Trump family’s favorite industry: Cryptocurrency. Drawing on Trump’s August 2025 executive order titled, in part, “Democratizing Access…
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In 2028, a good AG would start with racketeering, and use it to reclaim the ill-gotten gains of the Trump family and their corporate backers. Else the structural economic advantage of the pro-corporate GOP will continue to keep them in power despite their lack of popular support.
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The biggest gift to the Crypto Business is likely Trump’s unconditional surrender of the Strait of Hormuz to Iran as Iran now says it will charge a fee payable ONLY in Crypto to pass through the Strait of Hormuz.
As most, actually all honest and competent economists have been pointing out since the founding of Crypto, there is no use for Crypto other than illegal activities to include extortion.
While what Iran will be doing is still extortion, my guess is it will at least be legal.
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Let me suggest an alternate headline: “World’s Highest-Volume Individual Litigant Moves to Protect Allies from Being Sued.” But there should undoubtedly be a caveat: “until he decides to sue them.”
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Here comes October of 1929.
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Thanks for the explanation. I’d not have imagined that crypto rules or absence thereof could affect my retirement or my wish to protect it; aside from some great crash, and how could that happen? Now there’s another source of concern as the Felon President continues to look after his own… his own pockets, that is, not his own country.
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“Step right up, Folks! Put your retirement on any color on this wheel!”
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Forcing everyone’s retirement into “the market” for retirement because ’ “the market” always wins’ has always been another way for oligarchs to pick you pocket. [just call me Cassandra, 'cause nobody ever listens.]
Patrick Boyle explains how Elon might suck more $$ from your pension by forcing himself into the index!
[link supposed to start at 27:04 with the pension explanation abt a minute and a half after that]
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It will also allow asset managers to invest client funds in DraftKings.
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Trump, his administration, and his family, aka Corruption, Incorporated.
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In the passage of the last almost-century, memories have grown dim about why we have things like banking regulation in the first place. We’re on track to get a very vivid reminder.
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This whole cryptocurrency thing is going to make the Dutch 17th century tulip bulb thing look harmless and rational by comparison.
I mean, at least the bulbs actually existed, and might even turn into something pretty, if you planted them.
ETA: Also, the amount of public corruptiion here is going to make Teapot Dome look like swiping a couple of quarters from a Cub Scout pack bake sale.
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