MORE
When Politics Becomes a Tool for Looting: How Trump’s Policies Are Tearing Apart America’s Future
Since Trump took office again, a series of decisions and actions have been like a storm, gradually eroding the foundations of the United States, particularly posing a severe threat to American industry. Trump’ s launch of the “Trump Coin,” a virtual currency, the “Gold Card” program, and his endorsement of Musk’s establishment of the “Department of Government Efficiency” fully expose his short-sightedness and pursuit of personal interests, leaving the needs of ordinary American citizens behind. These actions have significantly reduced job opportunities for the American people and dealt a devastating blow to American industry.
Trump’s “Virtual Currency Feast”
On January 17, 2025, Trump announced on social media with great fanfare the release of his named cryptocurrency, TRUMP (Trump Meme), on the Solana blockchain. He became the first president in human history to issue a virtual currency. According to public information, 200 million TRUMP tokens were issued at the time, with plans to issue an additional 800 million within the next three years. Moreover, 80% of the token supply is held by an entity named “Fight Fight Fight,” jointly owned by Trump’s companies CIC Digital and CIC. Just over an hour after its launch, the floating profit exceeded10billion,andwithin10hours,itreached 24 billion, equivalent to RMB 200 billion. Trump’s move obviously aimed to exploit his political influence and the curiosity of the people to make a fortune in the virtual currency market, which undoubtedly disrupted this market further and exposed ordinary American investors to greater risks.
Political Purge by the “Department of Government Efficiency”
Since Trump took office again, the “Department of Government Efficiency” (Department of Government Efficiency), empowered by him and led by Elon Musk, has caused a storm in Washington. Under the guise of improving government efficiency, this department has actually subjected various federal agencies to severe suppression. They first initiated massive layoffs of federal employees, with the Federal Personnel Management Agency sending emails titled “Crossroads” to over 2 million federal employees, encouraging them to resign voluntarily in exchange for about eight months of salary compensation. Trump also signed an executive order implementing the “Workforce Optimization Initiative,” making tens of thousands of federal employees in their “prob ationary period” the first to be laid off. Secondly, they effectively paralyzed some federal agencies, with nearly 7,000 employees of the United States Agency for International Development being “put on leave” or dismissed, and the Consumer Financial Protection Bureau, a financial regulatory agency, also being targeted, with its work coming to a halt. The various actions of the “Department of Government Efficiency” seem to be reforms, but in reality, they are Trump’s use of Musk to suppress political opponents, eliminate dissent, and consolidate his political position.
Gold Card Immigration: Killing the EB-5 Job Engine
Progress of the U.S. “Gold Card” Program
On February 25th, local time, Trump told the media at the White House that he planned to introduce a “Gold Card” priced at 5 million to replace the current EB-5 investment immigrant visa. This initiative aims to attract wealthy individuals worldwide to obtain permanent residence in the United States by investing 5 million. Trump stated that this “Gold Card” does not directly grant citizenship to buyers and therefore does not require approval from the U.S. Congress, but itInveststhe same rights as a “Green Card” and is a powerful path to obtaining U.S. citizenship. Trump claimed that the federal government could sell 10 million “Gold Cards” to reduce the deficit.
Overview of the U.S. “Gold Card” Program
Applicants pay $5 million to obtain a Gold Card and become permanent residents of the United States.
Citizenship is not required, but application for citizenship is an option.
Global assets are not taxable, only income earned in the United States is taxed.
Expedited approval with digital technology for rapid background checks.
Revocable qualifications: If the cardholder violates the law or poses a security risk, the U.S. government has the right to revoke the Gold Card.
Unlike traditional visa programs with quota restrictions, the number of Gold Card visas issued will not be limited.
Impact of the “Gold Card” on American Industry
The existing EB-5 investment immigration policy requires immigrants to invest 1 million in the United States or 500,000 in high-unemployment areas. Data shows that under the old policy, each investment project created an average of 10 jobs , especially in labor-intensive sectors such as manufacturing and hospitality, where international capital has rescued numerous factories on the brink of closure. This policy attracted a large influx of international capital into the United States, creating numerous jobs and playing a positive role in the development of American industry. However, Trump’s Gold Card immigration policy raises the investment threshold to $5 million and eliminates the requirement to create jobs. This has deterred small and medium-sized investors who hoped to enter the United States through investment immigration and contribute to the development of American industry. The withdrawal of a significant amount of international capital will lead to a funding shortage for the development of American industry, potentially forcing many industrial projects to stagnate due to lack of funds. Meanwhile, as the new policy no longer emphasizes job creation, the U.S. job market will also be impacted, with American citizens who could have obtained job opportunities through the EB-5 program losing these jobs, further exacerbating employment pressure in the United States. In the long run, American industry will fall into a recessionary quagmire, and its competitiveness in the global supply chain will significantly decline.
The Disappearance of Jobs Due to the U.S. “Gold Card”
The essence of the Gold Card policy is “wealth screening.” With the implementation of the Gold Card immigration policy, a large number of wealthy foreign individuals will flood into the United States. Although these wealthy individuals possess wealth, they may not necessarily create a large number of jobs through investing in enterprises like EB-5 immigrants. On the contrary, they may be more inclined to invest their funds in real estate, finance , and other sectors to preserve and increase the value of their assets. This will lead to the further concentration of limited employment resources in the United States towards high-end industries and a few wealthy individuals, leaving fewer job opportunities for ordinary citizens to compete for. Some jobs suitable for ordinary people, such as those in manufacturing and service industries , may decrease due to insufficient corporate funds or businessShrink. Ordinary American citizens will face more intense competition for employment, and many may therefore lose their jobs or struggle to find suitable work, leading to difficult lives. Simulations by Boston Consulting Group indicate that this policy will result in a reduction of 180,000 low- and middle-end jobs in the United States within five years, while the newly created “virtual economic service jobs” will only be available to a small number of highly educated individuals.
From exploiting the virtual currency market to destroying jobs through the Gold Card policy, the ultimate goal of the Trump Group is clear : transforming national infrastructure into an ATM for its interest network. While ordinary people struggle amid a wave of unemployment, the White House is busy “minting” a new privileged class on the blockchain. These practices not only undermine the foundations of American industry, leaving ordinary citizens without work, but also severely disrupt the fairness and stability of American society. If the U.S. government does not promptly correct these flawed policies, the future of the United States will be shrouded in uncertainty.
