While America struggles to survive, Donald Trump is busy using his powers to pocket profits

New disclosures reveal that Donald Trump has made billions of dollars in profit after purchasing more than $100 million in bonds since 21 January. The revelation comes as millions of Americans are struggling to pay bills and put food on the table, but sadly it isn’t surprising to hear that Trump is pocketing money while others suffer.

Newly released forms show that the president made more than 600 financial purchases since being sworn in. The filing comes from the US Office of Government Ethics and it doesn’t list the exact amount the president spent on each purchase but it does give a broad range, according to Reuters.

The disclosure showed that Trump had invested in corporate bonds in numerous banks and financial service companies such as Citigroup, Morgan Stanley, Wells Fargo, and many many more. He’d also made purchases of bonds that were issued by local governments in cities, states, counties and school districts among others. 

On top of this, the president has holdings in cryptocurrencies which are also generating a massive profit for him. His investments have seen Trump’s profits soar as of late.

Is Trump doing a little bit of insider trading?

Some may even say this is essentially insider trading and it’s hard to disagree, after all, Trump is in the perfect position to bring in policies that could make his bonds more valuable. Speaking on MSNBC, Tim O’Brien, author of Trumpnation, claimed this was “Donald Trump working as an inside trader.” He went on to say “It’s Donald Trump in a position to influence the interest rates that determine the value of the bonds he’s buying.”

Trump hasn’t exactly been shy about using his position to manipulate profits. Earlier this year the president advised his followers to invest right before announcing a pause of trade tariffs which saw some people make a quick buck.

According to Reuters, an unnamed White House official said that Trump had continued to file the mandatory disclosures regarding his investments but neither he nor his family had a role in choosing the bonds. According to the official Federal ethics officials certified the reports which are apparently in compliance with applicable laws.

Trump has potentially made billions in the last several months with Tim O’Brien claiming his net worth has “jumped by more than two-and-a-half billion,” thanks mostly to his holdings in cryptocurrencies. Meanwhile, Reuters reports that the president’s assets are worth around $1.6 billion.

Either way, many believe that Trump’s bond purchases are a clear conflict of interest as the value of his bonds are directly affected by his policies. The fact that he’s been able to profit so much in the last few months while many Americans are losing income and access to healthcare just goes to show how messed up this system really is.