Is Trump using the Board of Peace to make billions for the family business?
The Board of Peace, an organization owned, operated, and chaired by Donald Trump (co-chaired by son-in-law Jared Kushner) is considering the creation of a US dollar-pegged stablecoin for rebuilding Gaza, a scheme that stands to put billions of dollars in the pockets of the family crypto business.
The stablecoin would allegedly be a “means to allow Gazans to transact digitally,” according to one source in the article, while simultaneously handing control of Gaza crypto currency to Donald Trump & Company (via The Block):
Liran Tancman, an Israeli tech entrepreneur, is leading the stablecoin effort, alongside the National Committee for the Administration of Gaza and others, according to Financial Times.
The “Board of Peace” was launched last month and is a coalition of entities organized outside of the United Nations. Membership is by invitation with a $1 billion fee. The group, chaired by Trump and led in part by his son-in-law Jared Kushner, held its first meeting last week in Washington D.C., where Tancman said the NCAG was working on creating a “secure digital backbone, an open platform enabling e-payments, financial services, e-learning, and healthcare with user control over data,” the FT reported.
We’ll get more into the “user control over data” lie a little later, but Trump has increasingly embraced stablecoins in recent years. He signed the first federal stablecoin bill into law last summer (GENIUS Act) and, along with his family, is involved in the crypto venture World Liberty Financial, which issued the USD1 stablecoin.
Because it’s tied to the US Dollar, Trump’s crypto currency scheme will make it easy for government to track and control every dollar spent by those who are using it. And if that’s not enough reason to oppose it, the GENIUS ACT also makes it easier for Trump to continue using the office of the presidency to rake in billions upon billions of dollars for himself and his family (via Fortune.com):
After years of battling with regulators, the legislation represents a major victory for the crypto industry, which started in the wake of the 2008 financial crisis and was long viewed as an outlaw sector. Now, the stamp of approval from Congress—and the broad embrace by the Trump administration—casts new legitimacy on blockchain technology, with once-skeptical institutions like Big Tech companies and banks rushing in, especially as Bitcoin soars to record highs.
However, as Congress moves on to debate a second bill that would create regulations around cryptocurrencies and exchanges, critics warn that the passage of stablecoin legislation raises concerns about the increasing ties between Trump’s business empire and blockchain interests. “That is a huge conflict of interest that society is just really not prepared for,” said Todd Phillips, a banking and administrative law professor at Georgia State University.
Some lawmakers have raised concerns about national security and potential conflicts of interest involved with Trump’s control of stablecoins and his Board of Peace. Not to worry though, Eric and Donald Jr. have assured America that the family business is merely doling out some long-overdue “retribution” against those who dare raise the conflicts of interest question (via Gizmodo.com):
“We were the most canceled people in the world in 2020, 2021,” said Eric Trump. “And it’s really great to almost have this retribution where all of a sudden we start pushing an agenda. Our agenda was to modernize finance, to allow that to never, ever, ever happen to anybody again.”
The Trump sons bragged to CNBC about how opening their own crypto company has given them “credibility” to operate outside the traditional banking system, but [CNBC host Sara] Eisen pointed out that “critics” will say “the credibility factor is the Trump name and the Trump White House, and that everyone is here to curry favor.”
Eisen also asked the Trump sons about foreign investments in their crypto ventures, specifically $187 million paid to Trump family entities from people connected to the Emirati royal family, according to the Wall Street Journal.
Donald Trump Jr. insisted that his father “has nothing to do with it” and that the UAE investment wasn’t related to access to AI chips. He also said that everyone goes to the Middle East to do business to find investment, calling the sovereign wealth funds in that part of the world “some of the biggest investors in every fund in America.”
“We’ve been dealing with the conflict-of-interest stuff for years. And they tried all this nonsense the first time around. Frankly, it’s gotten old,” Donald Trump Jr. said, perhaps referring to the fact that no other White House in modern history has seen the president and his family profit in such a galling way. (Emphasis mine)
When Trump signed an executive order shortly after his inauguration allegedly banning Central Bank Digital Currency (CBDC), he included a requirement to establish a presidential working group to create a federal regulatory framework governing digital assets (including stablecoins) and evaluate the creation of a strategic national digital assets stockpile. In other words, government will control digital currency instead of the Federal Reserve. The tyranny is the same, only the name is different.
Another disgusting development coming from Donald Trump and his Board of Peace is that Trump, who has ultimate control of the board’s finances, will be using the $1 billion fee paid by members and a recently announced $10 billion “contribution” of US taxpayer money (an act that requires Congressional approval, but I don’t think he cares) as seed for the family money-making crypto business schemes.
Stablecoins are being touted as a safe and secure digital currency destined to save the US dollar and rebuild Gaza. In reality, they are little more than another money-making scheme where Donald Trump and his Board of Peace will line the pockets of the Trump family business with billions of dollars.
I’m sure glad America voted for the lesser of two evils.
David Leach is the owner of the Strident Conservative and the author of The New Axis of Evil: Exposing the Bipartisan War on Liberty. He holds people of every political stripe accountable for their failure to uphold conservative values, and he promotes those values instead of political parties.
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