Trump Finds Incredible Man in Riyadh

Trump II, the digital Caligula, spoke at the Saudi-U.S. Investment Forum in Riyadh.  Trump was highly complimentary of Saudi Crown Prince Mohanned bin Salman.  The President spoke the day after the Sauid Public Investment Fund announced an AI venture, Humain.  The Crown Prince is Chair of the PIF.

Trump's love for the Crown Prince never waivered during his speech, nor did his pumping of the U.S. economy.  Other speakers at the event included TechGods and PEU legends.

Blackstone's Stephen Schwarzman has the longest tenure as a "policy making billionaire."  The rest are relatively new to influencing the political process for their personal gain.  Uncle Sam buys a lot of stuff.

Trump walked off the stage to The Village People's YMCA and was met by the Crown Prince.

Trump spoke within a stone's throw of the Crown Prince's shakedown prison. the Riyadh Ritz-Carlton.  The imprisonment and torture of Saudi Royals and corporate chiefs came eleven months before the horrific execution of U.S. journalist Jamal Khashoggi in a Saudi consulate (Turkey).  

In 2020 Saudi forces were ordered to kill the tribal residents of the area being developed for Neom, the centerpiece of Bin Salman's vision.  A Saudi citizen in the path of development stated, "They're waging a war on people, a war on our identities."

A Saudi security officer said:

Mohammed bin Salman will let nothing stand in the way of building Neom...I started to become more worried about what I might be asked to do to my own people."

The Crown Prince has plenty to feel down about given the physical harm and death he has inflicted on others.  But "guilt" is not on the agenda at the Saudi-U.S. Investment Conference.  Predation is front and center.

Update 5-14-25:  There's a list of CEOs, Family Office heads and PEUs who attended the Saudi-U.S. Investment Conference.  Red Team Mayor Frances Suarez is a PEU.

Update 5-24-25:  Trump's project in Qatar should help "Make Simaisma Great Again."

Air Force One: Fired! Dollar Should Watch Out

Air Force One is headed to meet its possible replacement, a luxury flying palace currently owned by the Qatari Royal Family.  It's not clear when the two planes may meet.  

I worked for a CEO like this.  Nothing that existed when they were installed was good enough.  Everything needed to be replaced, redone, removed, refurbished and all for the new CEO's glory.

Every personnel interaction was also to reflect on the CEO's genius, handsomeness and impeccable dress and decision making abilities.  Gifts were expected and none of that trashy stuff.

Trump II, the digital Caligula, is headed to the Middle East, specifically the area where the Trump family is doing the most business, real estate, crypto, speaking fees, private equity underwriting (PEU).

The White House stated it's not clear if the "Sons of Monarchy" are coming along.  Don Jr. will be in Qatar for the Qatar Economic Forum on May 21, speaking on "Investing in America."  His partner on the stage is his PEU partner at 1789 Capital and these two are the lead investors in "Executive Branch", a D.C. club that promotes access to the Trump Cabinet and other political heavyweights.  No opposing political parties or press!

The Trump family's other PEU is Jared Kushner's Affinity Partners, which currently manages $4.8 billion for the very same countries the President is visiting.

It's not clear if Affinity Partners is investing alongside the Trump Organization and Dar Global by taking an equity stake or providing debt funding.

PEUReport has done a number of pieces on Trump conflicts and below are four prior graphics mashed into one.  I took the liberty of adding the relevant country to each slide

Middle East monarchs know how to give gifts.  Free flying palace?  Of course, Trump II will act like nothing untoward is happening.  "You'd be fool not to take it."

If Trump is getting a $400 million plane in public watch out.  Something bigger or darker is going on behind the scenes.  The World Economic Forum is about to be schooled on the appearance of "deal making."  

I imagine something like this should the very stable genius get asked about his new WLF coin:

Trump:  USD1 stablecoin?  I have nothing to do with that.  Oh, is that my image on the graphic from WLF?  It looks the same as on my new tiny statue in the Oval Office.

Reporter:  That is does sir.  Are you firing the dollar next? 

Trump:  Maybe, you just watch me....

He's remaking the world in his image and for that we suffer.  Anyone need an Unstablecoin?  It is the Era of the Savage Whim.

Update:  Air Force One left this morning to haul Trump II to Saudi Arabia, Qatar and the UAE.  He mocked the Constitution once again by disparaging those questioning the wisdom of his whimsy.  Follow or Uphold?  "I don't know that I do....

Update 5-24-25:  Funding Trump's Big, PEU-tiful Bill's growing deficit is the new reason to enact crypto regulation.  Stablecoins, the monetary Swiss Army knife, are being lauded as the new buyers of Treasuries as foreign investors dump U.S. assets.  Trump's World Liberty Financial has the USD1 stablecoin, complete with his profile.  

Congress is the Mother of TechGods

Characteristics of a good mother include protecting, enabling and fostering the growth and development of their progeny.  I suggest Congress has been an able mother for America's TechGods and frankly it's hard to raise a toast to their preference of "digital anything" over the rights and safety of citizens.

It frosts my backside the way our government has facilitated the mistreatment of citizens and mal-use of their information by predatory forces. Elected officials protected social media over children, turned internet browsing history/geolocation data into company owned proprietary products (to use against its generators) and flung open the gates of government information to artificial intelligence pinheads. 

"America is leaning harder into surveillance, speed and simulated control."

The people who are intensely in our business should be kept out by our government, not invited in and provided concierge services. 

The flipping irony is TechGod founders are libertarian, small government, free speech, live forever pinheads who've jettisoned much of their principles for money, access to power and all the accoutrements that go along with such nonsense. 

Peter Thiel, Alex Karp, David Sacks and Elon Musk are among the worst, completely self-serving arrogant gits. Government should be restraining these people, not enabling them.  Instead of using taxpayer dollars for endemic surveillance Congress should tax social harm.  

Instead we have:

Money is free speech and can say whatever it wants about Gaza. People cannot. 

TechGods can buy votes. This is in addition to the influence of their social media platforms 

Thank heaven for the break provided by the elevation of Pope Leo XIV to the papacy. Prediction markets, which are falsely dressed up as knowledge, failed miserably. In the day their algorithms would have picked Goliath. 

Congress is and has been full of Goliath enablers. 

We need some "digital rock" Davids to take down the one eyed TechGods tormenting our planet. I'm afraid it's going to take a very big rock to break all the spying screens.

Update 5-12-25:  It turns out Trump II, the digital Caligula, is also a good AI parent enabler.

World Waking Up to Trump Grift

CNBC, Bloomberg and CNN have all run pieces on the Trump family's numerous ways of profiting from President Donald Trump's White House priorities.

Recall Boris Epshteyn, the loyal Trump lawyer, longtime advisor and member of the transition team?  He was accused of selling access to persons interested in serving under Trump II, the digital Caligula.  Trump met Boris through son Eric.  

Sorry Boris, selling access to Dad is a son's prerogative (and other sons of key White House members).  It's even the bailiwick of PEU founder Omeed Malik of 1789 Capital, an investor alongside Don Jr. in the Executive Branch (Georgetown Club version).

The Grift and Greed roadshow is headed to Qatar after their recent foray into the United Arab Emirates, where Trump's World Liberty Financial sold $2 billion of its dollar stablecoin for MGX to invest in Binance.  MGX is a joint venture between Mubadala Investment and G42, an Abu Dhabi based AI company.

That UAE AI firm may soon get access to the latest computer chips.  Newsweek reported:

President Trump is said to be considering a shift in U.S. policy that could grant the UAE access to advanced American-made semiconductors, Bloomberg reported last week, with Trump expected use an upcoming visit to the region to begin formal talks on revising the so-called "AI diffusion rule," which currently restricts chip exports to the UAE and dozens of other countries. 

"The president plans to emphasize that the UAE is a natural American ally that's made major investments in the U.S.," one official familiar with the discussions told Bloomberg.

This evening Professor Scott Galloway called the myriad of ways Trump is raking in billions "a kleptocracy."  

Dylan Ratigan and Tom Sosnoff's Truth or Skepticism podcast delved into the Trump family's highly distasteful conflict stew.  

PEU Report has many posts on Trump's various conflicts, which seem to be accelerating at a logarithmic pace.  This is but the latest.

Shovel a bunch of money at Trump and the sons of monarchy and wait for the potential payoff.  Sometimes the answer is an open palm.  More payola please!

One day ethical businesspeople will realize taxes are more predictable than paying for Trump II's "savage whims" to fall in their direction.

The Sons of Monarchy are the new Kids of America.  Stay off their turf, Boris.

Update 5-23-25:  Boris Epshteyn was at the Trump meme-coin top 220 dinner last night.  To date the White House has not released a guest list for the event.  CNN reported on some of the attendees. CBC reported meme-coin buyers spent $148 million for a seat at the Trump dinner table.

the four largest investors also received a limited edition Trump Tourbillon watch that sells for $100,000

Trump Fundraised Off Crypto/AI

USA Today reported:

Just 11 days after President Donald Trump hosted a $1 million dinner for the MAGA Inc. Super PAC, he kicked it up another notch in May with a $1.5 million-per-plate dinner at the Trump National Golf Club in Sterling, Virginia. 

Co-hosting the shindig with him on May 5 was David Sacks, the White House AI and crypto czar who collaborates with lawmakers on potential regulations for digital assets.

Trump granted Sacks an exemption from conflict of interest rules, which are even less for a special government employee. 

Sacks said he wasn't divesting anything when he got the nod but did not stick to that.  He sold a number of holdings:

What benefit does David get from selling assets as a special government employee?

Tax deferral on over $200 million in crypto related holdings is great for someone who hates paying their fair share of taxes.  I'm sure most of the $1.5 million per plate dinners felt likewise.

The question becomes at what point will donors have paid more to remain in Trump's close orbit than they would have paid under a fair tax situation?  Four years of $1.5 million per plate dinners could add up to some serious money for the "All In" crowd.

Taxes may be more predictable than Trump's endless glad handing (which is really an overt demand for cash).

Blackstone's Gray & Apollo's Rowan Reveal Why People Hate DOGE

Michael Milken interviewed two asset managers, Blackstone CEO Jon Gray and Apollo CEO Marc Rowan.  They talked about the varied menu of alternative investments each firm offers and their desire for individual retirement plans to load up on their specials.  

They shared a slide showing how pervasive private equity underwriter (PEU) ownership became over the last two decades, which corresponded to America's widespread exporting of jobs.  Virginia Governor Glenn Youngkin sent auto parts jobs to China while at The Carlyle Group.  I'm sure he's not the only one given the large number of current elected officials that were once PEUs.

Half of U.S. large businesses are PEU backed.  That means many Americans endured a private equity takeover and the subsequent cutting of people, squeezing of suppliers and other expense cuts in order to pay drastically higher interest expenses and get executives/sponsors the financial bonanza they craved.

Flashback to July 2011:

I have seen so many people -- particularly those in their 50s - 70s -- taken apart by what has happened in their industry as greed has hollowed out the economy. These are people took pride in their jobs and held themselves to this invisible standard that we all just took for granted, but is being wiped out.

DOGE triggered similar bad memories for many people.  The fact that the richest man in the world was screwing federal workers just made the resonance more galling.   

Trump II, the digital Caligula is not only at least fourteen years too late, he has the wrong culprits.  U.S. employers exported American jobs.  PEU owners outsourced work to China, Vietnam, and India while enjoying preferential tax treatment for their investment gains (highly unpopular, but still in effect today).  

Hopefully the people who hate DOGE will get that same icky feeling when they see private equity or private credit options under their retirement plan.  Remember how the greed and leverage boys crappified your workplace, jettisoned dedicated co-workers, milked the company for management fees and special dividends (debt funded) before leaving the company in a financially precarious position after their final profit-gasm.

Remember...  

Update 5-8-25:  A Fox News host stated on air:

“The real story of DOGE is that Elon Musk, who has $38 billion in government contracts, has not had a penny of his money touched while he’s going around cutting other people’s contracts,” she added. 

Tarlov pointed to a recent congressional report showing Musk could face $2.37 billion in potential fines across 11 agencies. Yet, she said, the people investigating those claims are the ones being laid off. 

“If that doesn’t smell like corruption, I don’t know what does,” she said.

U.S. trade negotiators are pushing other countries to use Musk's Starlink. 

Update 11-25-25:  DOGE is no more.  It did not even fulfill the length of its charter.

Update 12-1-25:  Musk tried to explain why DOGE accomplished so little using baby pandas.  It was bizarre and nonsensical.

DOUGEBAG did insert AI deep inside federal databases at significant profit for Musk, David Sacks and his "All Pinhead" podcast, as well as other TechGods.

DOUGEBAG- Department of Ungodly Greedy Executives Biased Against Government

May "The Farce" P-E-U

Politicians Red and Blue love PEU (private equity underwriters) and increasingly, more are one.  Yesterday, the PEU/TechGod class gathered at the Milken Institute Global Conference for a series of invitation only, off the record sessions.  They included: 

Treasury Chief Scott Bessent kicked off Milken this morning.  Bessent was quite complimentary of his boss Donald Trump and Junk Bond King Michael Milken, the recipient of a Trump pardon for his past criminal behavior.

Bessent's cheerleading included describing our economy as "anti-fragile" and "up and to the right" or number only go up.  Milken launched a number of softball questions to Bessent, reminiscent of a David Rubenstein interview,  Rubenstein co-founded The Carlyle Group, a politically connected private equity underwriter.  He and a number of Carlyle speakers are on the program.

Following Scott Bessent, CNBC's David Faber hosted a panel with Carlyle Group CEO Harvey Schwartz.  Schwartz talked about protecting capital and maintaining financial flexibility in order to get to the other side of Trump II's tariff restructuring.  He noted Carlyle has $80 billion of dry powder. Speakers agreed the path to a new normal involves negotiating trade deals and enacting tax cuts in a timely manner.

The Milken Global Conference has seven sessions focused on private equity, three of which are invitation only. (click on image to make it larger)

Also, new at Milken 2025 is the new Women's Health Network, chaired by former First Lady Jill Biden.

Another session is dedicated to legendary PEU founders Henry Kravis & George Roberts of KKR, while Blackstone's Jon Gray and Apollo's Marc Rowan are on a "Leaders in Asset Management" panel.

Milken is all about making big money from "doing good,"  generally a smokescreen for the greed and leverage boys and a complete afterthought for TechGods fresh on the political scene.  

Politicians Red and Blue love PEU and their new TechGod imitators (only brasher).  May "The Farce Be With You."

Update 5-14-25:  That big beautiful House bill does not eliminate PEU preferred "carried interest" taxation.  It even adds another tax break for pass through corporations and BDCs.

Politicians Red and Blue love PEU and increasingly, more are one.

Update 5-19-25:  University endowments are having to sweeten their PEU/private credit secondary sales due to low interest from potential buyers.  Can we get a stablecoin on that?  Congress?