My concern is point 13:17. If the current corruption we are uncovering and witnessing is any indication should we or how would we demand what regulations to prevent it going forward with a Sovereign Wealth Fund?
This could also add light onto what the DOGE team and Trump is trying to do. As Joe Brown explains, right now we are NOT in a position to create such a fund.
And as a conservative...I am just not fully onboard with this idea, because I simply don't trust the overall government at this point.
Lastly, Joe Brown, only considers the gold and not the other assets of the United States like oil, minerals, land etc. The conservative question is do we want the government basically monetizing those assets?
Lastly, Joe Brown, only considers the gold and not the other assets of the United States like oil, minerals, land etc. The conservative question is do we want the government basically monetizing those assets?
Something has value up to what someone is willing to pay for it. I guess I don't understand "monetizing those assets." Can you pls explain?
I've heard it stated that gold has 'intrinsic' value. But I still think the rule applies that an item is worth only what someone is willing to pay for it.
Cheers, 'Pod
I oppose it simply because it will be corrupted and used both to give bribes and kick backs and because it will eventually be used to control legitimate companies.
It’s like how black rock used 401k money to push DEI.
We are the only major country without a sovereign wealth fund. Ironically we are the country with the most sovereign wealth.
Not doing something because it can be abused is a lame excuse akin to “why bother”.
As for fund companies like Blackrock, Vanguard and Fidelity who control the boards of many major companies, this can be a major counterbalance to their extreme partisanship and aversion to their fidiciary responsibilities.
The US could eliminate its debt, save Social Security and essentially live off its sovereign wealth if used properly.
There’s a lot of questions but I think it’s a long overdue idea. Why not let the citizens of the US enjoy its vast untapped wealth.
Since one of the first uses of this fund as stated by Trump was to purchase a private company, I say no. That is 100% the definition of socialism. Even if Trump doesn’t end up purchasing private companies, the next dem president would.
You mention land.
Like the Gaza strip?
Or that land that’s around DC that will be high rent but very low occupancy soon if draining the swamp and obliterating the deep state really happens.
Would all that qualify within the Sovereign Wealth Fund?
Sovereign Wealth Fund is a horrendous idea. The greater the share of wealth in Government hands the worse for freedom. The greater the share and dispersal of wealth in private hands, the more freedom and liberty. I didn’t vote for Communism.
A sovereign wealth fund is monies which by their origin belong to the people, and therefor if not to be spent on necessary government operations should be returned to the people, not held in what will be a politically managed “investment fund” which will inherently become a tool in a government industrial policy. It should not have any place in the United States.
I would go further. I would not allow any foreign Sovereign Wealth Fund into the U.S. domestic economic space in any form, including any form of financial transaction through U.S. hosted means, like our investment exchanges and banks.