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This is the question worth asking every time a story like this comes out: if there’s no money for your health care, your kids’ schools, or the programs your family depends on, where is it going?      The Trump Administration just paid $17.4 million to fix two decorative fountains outside the White House. Three years ago, the same job was estimated at $3.3 million.       And guess what? The construction company that got the contract is the same one building Trump’s $400 million White House ballroom, and they got it without any competitive bidding whatsoever. The contract wasn’t even posted publicly, as required by federal law.      So how do you get from $3.3 million to $17.4 million? They added 27% for inflation. Then they added another 24% for inflation again. Then they tacked on additional charges that federal contracting experts said they had never seen before in their careers.      And the justification for bypassing the normal bidding process entirely? The fountains needed to be ready for America’s 250th anniversary. It’s worth noting that these fountains haven’t worked for nearly a decade. If the repairs were truly that urgent, why are they only fixing them now, and why are taxpayers footing a surcharge for the rush?      You are paying for this.   nytimes.com/2026/04/25/us/…

I am the personal financial advisor to the 47th President of the United States. I have made him $4.05 billion in one term. Let me say that again. Four point zero five. Billion. One term. The presidency of the United States, upon proper management, outperforms every asset class in recorded financial history, including venture capital, petroleum futures, and the sovereign wealth fund in Abu Dhabi that manages $1.7 trillion and employs nine hundred analysts. I benchmarked it. We beat them with a staff of four and a leather binder. I keep a binder in the residence. I call it The Number. The Number was $3.4 billion in August. The Number is $4.05 billion now. The Number has never gone down. I update it every Friday at 6 AM, before the briefing, like a surgeon checking vitals on a patient who can only get healthier. The cover is leather. The tabs are color-coded by sector: Crypto, Finance, Hospitality, Media, Other. "Other" includes a Boeing 747-8 valued at $400 million, gifted to him by the Emir of Qatar while he was sitting President. There is no asset class for that. I invented one. I call it EAGLE-7. Crypto is seventy-five percent of the portfolio. $3.02 billion. I want you to sit with that figure. Three billion from digital tokens and stablecoins. From a man who in 2021 called Bitcoin "a scam against the dollar." His words. The flagship holding is Trump Media's bitcoin stockpile. He holds 42% of the company. The company sold shares to institutional investors. Used their capital to purchase bitcoin. His personal stake from that maneuver alone: $1.15 billion. He drafts national cryptocurrency regulation from the Resolute Desk. Signs executive orders on digital asset policy. Handpicks the SEC chair who will enforce them. His bitcoin goes up when he does these things. The investors' stock goes down. That's a conflict of interest. I'm kidding. I've never used those words in that order. That's the investment thesis. Then there is Alt5 Sigma. I need you to understand Alt5 Sigma. Alt5 Sigma was previously known as Appliance Recycling Centers of America. Founded in 1991. In Minnesota. It recycled dishwashers. Then it became a biotech. Then a digital payments company. Then Zach Witkoff, son of the President's special envoy, became chairman, and it became the primary vehicle for purchasing World Liberty Financial tokens. In 1991 it recycled dishwashers in Minnesota. In 2025 it funneled $562 million to the President's family through a Rwandan subsidiary convicted of money laundering. The CEO was removed. The CFO was fired. The auditor was replaced. Twice. The stock went from $8 to $2. We received $562 million from it. I put it in the binder. I logged it in the binder on a Thursday. I used Garamond. It felt appropriate for a company whose journey from kitchen appliances to international money laundering spanned exactly thirty-four years. The stablecoin is where the architecture gets beautiful. USD1. $136 million in projected interest over the remaining term. I will show you the math because the math is the point. $3 billion in circulation. Times 4% annual return. Times three years remaining in office. Times the family's 38% share. The UAE purchased $2 billion of USD1. Then Binance promoted it. Pumped circulation from $2 billion to $5 billion. Binance's founder had pleaded guilty to money laundering violations. He received a presidential pardon in October. I pardon you. You promote my stablecoin. My stablecoin generates $136 million. The pardon cost nothing. The coin cost nothing. The oath of office cost nothing. The entire apparatus of federal clemency was converted into a revenue instrument and nobody filed a complaint. That's yield. TRUMPcoin. $385 million. A memecoin with the President's face on it, launched days before inauguration. Every person who bought TRUMPcoin at launch and held it has lost 90 cents of every dollar. Every person who bought it made the President $385 million richer on the way in. That's the product. The product is not a coin. The product is belief. We are very long belief. His sons received a 13% equity stake in American Bitcoin. A New Yorker investigation determined they contributed, and I quote, "nothing else of obvious value." I would characterize their contribution differently. They contributed the single most valuable commodity in American commerce, worth more per ounce than lithium, more per gram than fentanyl, more per syllable than any word in the English language. Proximity to the man who pardons people. That's due diligence. Hospitality. $271 million. Mar-a-Lago now generates $50 million a year. It generated $10 million when he took office. Initiation fee: $1 million. You are paying $1 million to eat dinner in the same room as the man who controls the Department of Justice. I set that price. It is undervalued. Saudi Arabia. The Crown Prince visited the White House. Then Dar Al Arkan signed licensing deals estimated at $10 billion. Hotels in the Maldives. Golf clubs in Riyadh. A tower in Jeddah. He sat next to the man who ordered a journalist dismembered and said, quote, "He knew nothing about it." Then he signed the hotel deal. I have the term sheet. Our fee is 2-10% of revenue. We do not ask what happened to the journalist. That is not in our mandate. $106 million is in our mandate. That's client retention. Finance: $340 million, predominantly Persian Gulf sovereign wealth fund arrangements structured through intermediaries whose names I am not going to say in this format. Media: $116 million. Legal fee fundraising and branded merchandise: $128 million. The Qatari jet: $150 million. I have already mentioned the jet. I mention it again because a sitting foreign head of state gifted the sitting American President a $400 million flying palace with gold-plated fixtures and a master suite, and not a single member of Congress has asked a follow-up question. Not one. Not in committee. Not in writing. Not on camera. Five hundred and thirty-five legislators. Zero questions. Now. I am required by my own conscience, which is vestigial at this point, to disclose downstream performance. Every public-facing investment vehicle associated with this portfolio has collapsed for outside investors. I will read them. TRUMPcoin. Down 90%. American Bitcoin. Down 80%. Trump NFTs. Down 80%. Trump Media stock. Down 60% since inauguration. Alt5 Sigma. Down 75%. The family's positions were structured to extract value before these declines materialized. The retail investors' positions were structured to supply the value being extracted. There were approximately 600,000 retail wallets holding TRUMPcoin at peak. Retirees. Day traders. People who believed the branding. Their aggregate losses capitalized the portfolio. Their savings became his tab in the binder. That's liquidity. I want to address the competitive landscape. I am a financial professional. I benchmark everything. In 2016, the President stood at a podium and called Hillary Clinton "the most corrupt enterprise in political history." He said she "turned the State Department into her personal hedge fund." The accusation that ended her career was $153 million in speaking fees. Combined. With her husband. Over fifteen years. Goldman Sachs paid her $225,000 per speech. He said the word "crooked" so many times it became her legal name. $153 million. Fifteen years. Two people. I made him $4.05 billion. In one term. By himself. A 26-to-1 ratio. I wrote it on the whiteboard in the residence. Then there was the Biden family. "The Biden Crime Family," he called them. He held rallies about it. He got impeached over investigating it. The Republican House spent two years and $3.5 million in taxpayer funds to uncover, per their own final report, approximately $24 million in Biden family income over five years. Hunter Biden's Burisma salary was $1 million a year, later reduced to $500,000. The Chinese payments were $664,000. The House Oversight Committee called it "influence peddling at the highest level." $24 million. Five years. Ten family members. My client made that in two days. I have the math. $4.05 billion divided by 365 days is $11.1 million per day. The entire Biden investigation, the impeachment, the hearings, the Fox News segments, the "CRIME FAMILY" hats, all of it, for an amount my client earns before his Wednesday morning briefing. The ratio is 168 to 1. I put it on the whiteboard next to the Clinton number. The President saw it. He laughed. He did not ask me to take it down. "Drain the swamp," he said in 2016. I drained it. Into the binder. The swamp is now a portfolio. It is the highest-performing portfolio in the history of public office, and the man who built it ran for President on the promise that he would stop people from doing exactly what I help him do every single day. That's positioning. When the New Yorker published the full accounting, $4.05 billion across five sectors, and asked the President whether he saw a conflict of interest between the office and the fortune, between the pardons and the profits, between setting crypto policy and holding $3 billion in crypto, he told the New York Times six words. "I found out that nobody cared." He was right. He has been right about that singular fact since the beginning. Nobody cared when he launched the coin. Nobody cared when he pardoned the convicted money launderer who pumped his stablecoin. Nobody cared when a dishwasher recycling outfit in Minnesota became a $562 million pipeline to his family through a subsidiary that had been convicted on three continents. Nobody cared when 600,000 wallets evaporated so the leather binder in the residence could gain another tab. He found out nobody cared. Then he monetized the finding at a rate of $11.1 million per day, every day he has held office, including Sundays, including holidays, including the morning he sat next to the Crown Prince and said the murdered journalist had it coming. $4.05 billion. One presidential term. Zero indictments. Zero congressional hearings. Zero audits. Zero consequences of any kind for any person at any level of the operation. The chart goes up. It only counts his money. There is another chart. It has 600,000 wallets on it. Retirement accounts. People who believed a dishwasher recycling company in Minnesota was a sound vehicle for their savings. We do not publish that one. I filed it under EAGLE-7.

I haven't seen anyone tracking all of the alleged (or open) Trump corruption, self-dealing, and quid pro quos in one place. For the last 15 months, I've been tracking every single tip+story I can find and organizing it. Today, I published a 6,000 word piece with every example.

For anyone thinking the presidency is about anything other than stuffing his pockets, take a moment to watch this. I actually think that Trump has resigned himself to the fact he’s about to become a lame duck President. As a result he’s prepared to burn the house down, throw the Republican Party under the bus and do whatever it takes to build a legal defence fund for what’s about to happen after November. Thanks to Steven Rattner for the instructive clip. 🎥 TikTok - vm.tiktok.com/ZNRpexvVL/

Während die USA 5 000 Soldaten aus Deutschland abziehen und Polen, Estland, Litauen und Großbritannien gerade erfahren haben, dass ihre bereits bezahlten HIMARS, NASAMS und Patriot-Munition „auf unbestimmte Zeit“ warten müssen, weil die USA ihre Lieferungen anders priorisieren, hat das Pentagon am Freitag Waffenlieferungen für 8,6 Milliarden Dollar genehmigt. Nicht nach Europa. In den Nahen Osten. Israel: 992 Millionen, lasergesteuerte APKWS-Raketen. VAE: 147 Millionen, gleiches System. Katar: 2,5 Milliarden, IBCS-Luftabwehrsystem (kompatibel mit Patriot). Kuwait und Katar zusätzlich: Patriot-Komponenten. Patriot. Genau das System, das die Ukraine händeringend braucht, um Kyjiw vor russischen Raketen zu schützen. Genau das System, auf das auch Polen und das Baltikum jetzt warten sollen. Estlands Verteidigungsminister Hanno Pevkur hat das öffentlich bestätigt: HIMARS-Munition komme „mindestens bis zum Ende des Iran-Krieges“ nicht. Estland. Direkt an der russischen Grenze. Und dann ist da noch die Sache mit dem Bataillon, das gar nicht erst nach Deutschland kommt. Tomahawk-Marschflugkörper und Dark-Eagle-Hyperschallraketen, geplant für Mainz-Kastel. Der Militärexperte Carlo Masala in der „Welt am Sonntag“: „Hier entsteht eine wichtige Fähigkeitslücke mit Blick auf die Abschreckung Russlands, die mit europäischen Waffen erst später geschlossen werden kann.“ Übersetzt: Russland hat ein Zeitfenster geschenkt bekommen. Wer schon vergessen hatte, worüber Trump am Mittwoch anderthalb Stunden mit Putin telefoniert hat: Iran und die Ukraine. „A good talk.“ So bleibt die Ukraine ohne Patriot-Nachschub, die Ostflanke der NATO ohne Munition, Deutschland verliert 5 000 Soldaten und ein Bataillon Langstreckenwaffen, das gar nicht erst kommt – und die Patriots, die Kyjiws Himmel und Polens Grenze schützen sollten, gehen nach Doha und Kuwait-Stadt. Putin braucht Russland gar nicht mehr aufzurüsten. Er muss nur dafür sorgen, dass die anderen es nicht tun.

This administration refuses to take responsibility for any of their actions. Spirit specifically cited why they couldn’t stay in business: skyrocketing fuel costs due to Trump’s war. And the Trump admin is still trying to blame Biden for everything. Biden?! You could maybe get away with that if it were February 2025, but it’s May 2026. Trump was the “I’ll make everything cheaper on day 1” guy. The “no new wars” guy. Own your actions.

The Pentagon and State Department have shown a total lack of transparency in revealing the damage done to U.S. facilities by Iran. These are facilities that Americans pay for, but we don't get to know what has happened to them so that Trump can claim some victory that no one believes he is winning who doesn't live in a Fox bubble.

Trump to Congress, May 1: Hostilities with Iran "have been terminated." Trump to Florida audience, May 1: "You know we’re in a war." @EricaLG nytimes.com/2026/05/01/us/…

Trump says anyone running for president should take a cognitive exam because you could end being stuck with a moron for years. “I mean, you get a guy who gets in there, he's got a good line of crap. He gets in and all of a sudden you're stuck with a man who's a moron”

A CNN investigation reveals a majority of U.S. military sites in the Middle East are damaged by Iranian strikes. @tamaraqiblawi’s report:

YOU’RE like a pirate. WE are not like pirates. America troops are not supposed to be like pirates. The damage he is doing to the reputation of our country—and our military especially—is severe, damaging and lasting. The world not longer trusts America or our military. Because of him. It will take a generation for us to repair all the damage he’s done. Our enemies are celebrating.🚨🇺🇸

Read

The Trump sons are, without a doubt, a national security vulnerability AND a national security threat. Everybody knows they are for sale and what they are selling is often “new” and untested to be used by our troops.

Am 22. September verspricht Kasachstans Präsident dem US-Präsidenten eine Wolfram-Mine. 36 Tage später kaufen Trumps Söhne Anteile an der Firma, die sie bekommen wird. 9 Tage später wird der Deal mit 1,6 Milliarden Dollar Steuergeld offiziell. Drei Mal innerhalb eines Jahres dasselbe Muster: Söhne kaufen ein, Vater liefert den Auftrag. Im August 2025 steigen Donald Trump Jr. und Eric Trump bei einer kleinen New Yorker Baufirma namens Skyline Builders ein. Sie kaufen über ein Vehikel mit dem Namen American Ventures, einer Tochter von Dominari Securities. Dominari hat die Trump-Söhne Ende 2024 in seinen Beirat geholt. Sie halten dort auch einen Anteil am Mutterkonzern. Skyline ist zu diesem Zeitpunkt eine unauffällige Holding für asiatisches Baugeschäft. Niemand schreibt darüber. Am 22. September trifft Kasachstans Präsident Tokayev Donald Trump und sagt ihm zu: Eine US-Investmentgruppe namens Cove Kaz wird das größte unentwickelte Wolfram-Vorkommen der Welt bekommen. Cove Kaz hatte gegen chinesische und russische Bieter konkurriert. Tokayev entscheidet sich für die Amerikaner. Diese Zusage ist informell. Kein Vertrag, kein offizieller Beschluss. Nur ein Versprechen zwischen zwei Präsidenten. Am 21. Oktober berichtet die Presse erstmals über diese Vereinbarung. Sieben Tage danach, am 28. Oktober, schießen die Trump-Söhne weiteres Geld in Skyline nach. Im Rahmen einer Kapitalerhöhung von knapp 24 Millionen Dollar. Drei Tage später, am 31. Oktober, kauft Skyline für 20 Millionen Dollar einen 20-Prozent-Anteil an einer Firma mit, Zitat aus dem Filing, "bedeutenden Beständen an kritischen Mineralien in Asien". Diese Firma ist Kaz Resources, die Tochter von Cove Capital, die das Wolfram-Projekt entwickeln wird. Am 6. November verkünden Cove Kaz und Kasachstan den Deal offiziell. 70 Prozent der Mine gehören Cove. 30 Prozent dem kasachischen Staat. Geplante Investitionssumme: 1,1 Milliarden Dollar. Die US-Regierung steigt mit ein. Die staatliche US-Exportbank gibt eine Zusage über bis zu 900 Millionen Dollar Projektfinanzierung. Die staatliche US-Entwicklungsbank ergänzt das mit bis zu 700 Millionen Dollar. Macht zusammen bis zu 1,6 Milliarden Dollar Steuergeld. Am 30. April 2026 fusionieren Skyline und Cove Kaz. Das fusionierte Unternehmen geht an die Nasdaq. Geplanter Ticker: KAZR. Auf keiner einzigen Pressemitteilung tauchen die Namen der Trump-Söhne auf. Warum Wolfram? Wolfram ist das Metall mit dem höchsten Schmelzpunkt der Welt. Es steckt in panzerbrechender Munition. In kinetischen Abfangkörpern für Raketenabwehr. In Hyperschallwaffen. In jedem Halbleiter. In F-35-Triebwerken. Christopher Ecclestone, Bergbau-Stratege bei Hallgarten in London, sagt: Das Pentagon will Wolfram um jeden Preis. China kontrolliert über 80 Prozent der weltweiten Wolfram-Produktion. Im Februar 2025 verhängt Peking Exportbeschränkungen. Die Preise für Ammoniumparawolframat, der internationale Benchmark für Wolfram, springen seitdem um über 40 Prozent. Die USA haben 2015 die letzte eigene Wolfram-Mine geschlossen. Wer eine neue, verlässliche Quelle anzapfen kann, sitzt auf einer goldenen Ader. Genau diese Ader bekommen die Söhne des US-Präsidenten. Mitfinanziert mit Steuergeld. Der Geschäftsführer von Cove Capital, Pini Althaus, sagt der Financial Times wörtlich: Cove habe "direkte Unterstützung von Präsident Trump, Außenminister Marco Rubio und Handelsminister Howard Lutnick" erhalten, um die Mine zu sichern. Lutnick selbst hat einen persönlichen Brief an den kasachischen Präsidenten geschickt, um den Deal zu unterstützen. Das geht aus einer Investorenpräsentation hervor, die Skyline bei der US-Börsenaufsicht eingereicht hat. Pini Althaus hat übrigens vor Cove eine andere Mineralienfirma gegründet: USA Rare Earths. Auch sie hat Mitte 2025 über 1,5 Milliarden Dollar an konditionaler US-Staatsförderung erhalten. Das ist der Hintergrund. Jetzt zum Muster. Im August 2025 steigt eine Risikokapitalfirma namens 1789 Capital bei einem Startup namens Vulcan Elements ein. Donald Trump Jr. ist dort Partner. Vulcan stellt Magnete aus Seltenen Erden her. Drei Monate später, im Dezember 2025, bekommt Vulcan einen Pentagon-Kredit über 620 Millionen Dollar. Plus 50 Millionen Dollar als Eigenkapitalbeteiligung der US-Regierung. Es ist der größte Kredit, den das zuständige Pentagon-Büro für strategisches Kapital je vergeben hat. Trumps Executive Order 14241 hatte zuvor die Pflicht zur unabhängigen technischen Prüfung solcher Vergaben aufgehoben. Im März 2026 steigen die Trump-Söhne bei einem Drohnenhersteller namens Powerus ein. Lieutenant General Keith Kellogg, ehemaliger Sicherheitsberater des Vizepräsidenten, sitzt im Beirat. Wenige Wochen später startet die US-Regierung ein Drohnenprogramm mit einem Budget von 1,1 Milliarden Dollar. Powerus will Aufträge daraus ziehen. Der geplante Börsenticker der Firma: PUSA. Jetzt Cove Kaz. KAZR. 1,6 Milliarden Dollar Steuergeld. Drei Fälle. Zwölf Monate. Dasselbe Muster. Das Wall Street Journal hat die Trump-Familien-Geschäfte seit der Wiederwahl auf insgesamt mindestens vier Milliarden Dollar Erlöse und Papiervermögen geschätzt. Krypto, Drohnen, Seltene Erden, Wolfram, Bitcoin Mining, Prediction Markets. Eric Trump hat in einem Interview gesagt, sie hätten in der ersten Amtszeit "keinen Dank für ihre Zurückhaltung bekommen". Diesmal halten sie sich nicht zurück. Im März 2026 versuchen Demokraten im Kongress, Donald Trump Jr. per gerichtlicher Vorladung zu zwingen, unter Eid zum Vulcan-Deal auszusagen. Republikaner blockieren die Abstimmung im Ausschuss. Die rechtliche Bewertung dessen wird Jahre dauern. Zwei Dinge stehen aber jetzt schon fest. Erstens: Wer in den USA steuerpflichtig ist, finanziert über Mehrheitsstrukturen einen Bergbau-Deal in Kasachstan, an dem die Söhne des Präsidenten beteiligt sind. Ohne dass diese Beteiligung in den offiziellen Pressemitteilungen erwähnt wird. Zweitens: Wenn dasselbe Muster in einem Jahr drei Mal auftritt, ist es kein Zufall. Es ist eine Methode. Wenn dich solche Makro Insights interessieren und dir helfen, interagiere gerne mit dem Post. 🧡

When Trump removed US Coast Guard Commandant Linda Fagan from her position, she was given 3 hours notice to vacate Quarter 1, the Coast Guard Commandant’s waterfront residence — where Kristi Noem continues to live rent free despite being fired 2 months ago.

Thank you for this @Ike_Saul. Please read this piece. Thread.👇

A Trump administration border wall expansion project in Arizona has damaged a rare Native American archaeological site - The Washington Post

Breaking news: The Trump administration accidentally exposed the Social Security numbers of health care providers in a database powering a new Medicare portal, The Post found. Officials say they are addressing the problem. wapo.st/4wisvMS

Suspending a primary election days before early voting starts just so you can redraw the maps to disenfranchise Black and brown voters is a perfect example of the lengths Republican politicians will go to rig our democracy in their favor.

"Two hundred and fifty years into the American experiment, it turns out that it takes a King to tell us how to run our Republic," writes @sbg1 newyorker.com/news/letter-fr…