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this is their goal, they're trying to collapse the US economy. disaster capitalism is all that's left when all other fields are taken/captured by effective monopolies. there's no room for organic growth, just smashing shit to the ground and buying up distressed assets on the cheap

we have done this boom/bust cycle many times now

Draining the courts' resources AND make daddy putin happy, sounds like a win-win for Trump

Corporations are not citizens, so all corporate accounts are toast as well, right?

no, but he likes to uses EOs as distraction from epstein.

FDIC means you can't really do a bank run, the bank can just get its money back from the feds

You wouldn't even need to organize some mass campaign to get people to pull money out. This thing will trigger a bank run all on its own. Do you think the banks have enough reserves to immediately cash out the accounts of every non-citizen? Sometimes a bank decides it doesn't want to do business with someone anymore and will close their account. If that happens to you, they send you a check with your account balance on it. But we're talking tens of millions of people here, many with substantial amounts in US accounts. This order, if implemented, would cause every bank in the country to collapse. They just don't maintain the reserves to cash out that many accounts all at once.

Let’s pretend this passes and becomes law.

It's en executive order. Nothing to pass, and it probably will get defeated in court unless they can venue-shop and route it to a corrupt judge.

If only people worked together like that, we'd do amazing things.

Can we cause essentially a run on the bank by having 40% of us move all our liquid assets to euros at once and continuing to move incoming money to cash?

You can’t really kill them. Technically it’s just the President saying do X or Y.

On their own, they have no effect in law.

They only instruct the Executive Branch on how to operate WITHIN existing law.

They need to go back to what they were originally intended to be. It wasn't supposed to be a way to enact new laws, it was meant to give agencies direction on how to go about enacting and enforcing laws passed by congress.

The whole system is broken and corrupt though. So no simple fixes for any of the issues unless you consider tear it all down and start fresh as simple.

I knew a guy who boiled his sliced bread because the toaster was broken

Have I got a man for you.

Edit: I kinda forgot that this comment was about Trump. This dude is great, but... just watch the video, you'll see what I mean 😆

…or legal permanent residents…

OR just all the thousands of people from other countries that do business with the US.

Their what now? That's ICE's money. After the pulled the immigrant out of his bed, that money was just laying there. Nobody owns it, so it's finders keepers. /s

You don't even need to be a permanent resident now, you just have to have a taxpayer ID number (a TIN).

No, they should put it in the safest store of value Trump Coin, or whatever crypto BS his sons are hocking these days.

be a citizen to own a home, etc

That's part of the point, eventually. You just start narrowing who's a "citizen" from there. It's why they want to get rid of birthright citizenship so badly, because then you can make up whatever test you like, and potentially even say "alright, NOBODY is a citizen unless you go and present yourself for racial profiling/pass a test/etc" or whatever.

I hope it fucking hurts, too.