President Trump’s “Peaceful Transfer of Power” “Bluff”

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Saddam Hussein Shotgun

Is Trump bluffing, like Saddam, to project an image of strength?

 

 

Press Conference: September 23, 2020

President Trump made news recently for declining to agree to a “peaceful transfer of power.“

Mr. President, real quickly: Win, lose, or draw in this election, will you commit here, today, for a peaceful transferal of power after the election? And there has been rioting in Louisville. There’s been rioting in many cities across this country — red and — your so-called red and blue states. Will you commit to making sure that there is a peaceful transferal of power after the election?

THE PRESIDENT: Well, we’re going to have to see what happens. You know that. I’ve been complaining very strongly about the ballots. And the ballots are a disaster. And — and —

Q I understand that, but people are rioting. Do you commit to making sure that —

THE PRESIDENT: Oh, I know. I know. Yeah, no, we want —

Q — there’s a peaceful transferal of power?

THE PRESIDENT: We want to have — get rid of the ballots and you’ll have a very trans- — we’ll have a very peaceful — there won’t be a transfer, frankly; there’ll be a continuation.

The ballots are out of control. You know it. And you know who knows it better than —

Q No, sir. I don’t know that.

THE PRESIDENT: — anybody else? The Democrats know it better than anybody else.

Never Admit Weakness or Consider Defeat

Saddam Hussein Shotgun
Saddam Hussein Shotgun

The President’s sympathizers explain away his words by imagining a situation comparable to Saddam Hussein’s bluff with Weapons of Mass Destruction: Whereas Saddam Hussein could never admit he didn’t possess Weapons of Mass Destruction, out of need to project an image of strength, President Trump must never entertain the possibility of losing.

Here’s a description of UN Weapons Inspector Hans Blix’s assessment:

Blix provides a number of potential answers, ranging from Saddam’s pride, to the argument this essay advances—that he hoped to retain the threat of WMD in his weakened state. Only with the perception that he possessed unconventional weaponry could he be protected from his enemies such as Iranian Shi’a, Israel, and the Kurd

Bluffing led to disaster

We all know what disaster resulted from Saddam’s miscalculation and his need to maintain his pride..

What Motivates Trump:

In addition to his pride, Trump needs narcissist supply and the fears post-Presidency lawsuits. As a narcissist, he will provoke chaos without limit, seeing chaos as a bargaining chip in his bid to secure himself either:

  1. a continuation of Presidential term
  2. some post-presidential arrangement that avoids accountability and loss of face and  narcissistic supply.

Any post-presidency scenario that does not provide him with sufficient attention and a cushion to his ego will be seen by the President as unacceptable.

Like former Illinois Governor, Rod Blagojevich, the President is a transactional man who expects to get something in exchange for the power he’s been entrusted with.

Don’t “joke about bombs at the Airport” or bluff about WMD

Its a well know that one should not joke about bombs while you’re at the airport.  Likewise, you shouldn’t bluff about the peaceful transfer power in an election season.  The risk of this sort of brinkmanship is that it spirals beyond anyone’s control.

The Banana Republic Option: State Legislatures Overule

There is also a possibility that all this talk about fraud could provide cover for state legislatures to overrule the popular vote in their state, prompting Congress at a national level to cast votes on a 1 voter per state basis, which favors Republicans and would lead to a Trump second term.

Naked Quotations

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FDR in 1933


As a history major and creator of a contextual citation system, I’ve come to the realization how many famous quotations are passed down without access to the surrounding context.

Quotes Divorced from their Context

He’s a quote from FDR that we do have the context for:

the only thing we have to fear is fear itself

But go to any of the major quote websites and see how many quotes have been divorced from their original context.

For lack of a better term, I call these “naked quotations“.

These show up in journalism and on Wikipedia where we frequently have to settle for the citation of a naked quote.

Ted Nelson
Ted Nelson

Back to Ted Nelson’s Original Vision

As part of an effort to build the trust of our readers, I encourage authors to live to a higher standard by fully citing sources and providing their readers with context.

Ted Nelson’s original vision for hypertext kept quotes connected to their sources with two-way links.

My CiteIt.net project is a rather hackish way of getting back what was lost with the web, towards Ted’s original vision.

US could have a digital currency in 12-18 months.

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US Dollar - Bitcoin


A Digital Currency is Being Openly Discussed

I think many people underestimate how quickly a digital currency could become a reality in the US (and possibly Canada). Some of the following stories are a few months old but taken together, they present a strong case that a digital currency could become a reality much more quickly than people are aware of.

The Prediction: A Digital Dollar (Pontentially) in 12-18 months

Sheila Bair, former chairman of the U.S. Federal Deposit Insurance Corp

Transcript:  (June 26, 2020)

I’ve been a big big advocate of digital currency central bank-backed or issued digital currency that actually could be distributed directly to households in times of stress

Give them cash you know don’t give them more debt and find what technology will allow you today to have a transmission mechanism that goes directly into households and obviously congress needs to authorize that there need to be very tight controls around it

but nonetheless in a situation like that we’ve seen how the government and the IRS on the fiscal side has struggled to get EIP funds to households those payments notwithstanding some of the problems and transmitting the payments have done a lot of good for the economy

and so but having some type of automatic stabilizer where cash could actually be distributed through digital wallets which are fairly easy to set up right now right into households that would be so much more efficient than pumping all this money into financial markets and seeing this giant chasm right between you know what’s going on the stock and bond markets and what’s going on with main street

Sheila, the digital currency idea is super interesting because there’s a real concern that the US is behind especially compared with other countries notably china are you concerned about that race to create a digital currency

Well I am I think you know we are privileged to have the world’s global reserve currency I don’t see that changing anytime soon but I do think one of the undercurrents of what china is doing at least especially in developed countries that have unstable currencies is to uh default to the renminbi you know as the currency of choice that they’re using their own countries through their central bank’s digital currency

So yeah I think that’s exactly what’s going on I think we need to wake up to it we shouldn’t be too complacent about our leadership position I think you know or the strength of our system the strength of our fed and its independence and its integrity I think will always give us the edge but we need to effectively use this technology domestically I think it’s insurgently needed but we should also think about how the dollar is used throughout the world.

The other thing nice about digital currency if it’s cryptocurrency if it’s traded on a distributed ledger you have a much better audit trail of transactions so from a law enforcement perspective kind of there’s an urban legend that somehow it’s it makes uh illicit transactions easier actually makes it harder because with the central bank issued or back digital currency you can actually trace the transactions where that that digital money is going through the distributed ledger so from a law enforcement perspective it also has huge advantages

But we do need to be very aware of what’s going on in other countries and the real risk of that is posed to us if we don’t effectively

leverage what you know what is is happening now I mean

I think between in 12 and 18 months we could probably have a system of digital currency if people really put their mind to it and again it needs to be authorized by congress uh but the fed I know has been looking at it for a while and I think we need to accelerate that.

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Investment Portfolios: Diversification Strategies

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(filmed Feb 7, 2020)

Summary of Counter-correlation Strategies:

Chris Cole of Artimis Capital (the person being interviewed)  argues that most investors and pension funds are historically illiterate and use portfolios based on models of the last 40-years of market data, rather than longer-term market conditions going back to the 1920s.

Investment Eras:

  • Secular Decline (1929-1946)
  • Secular Rebirth (1947-1963)
  • Secular Stagnation (1964-1983)
  • Secular Boom (1984-2007)

Most people would be surprised to learn that most of the stock market growth of a 60/40 fund in the last 90 years occurred in the 1983-2007 era of Secular Boom.

90% of the returns of a 60-40 stock-bond portfolio came from the 22 years between ’84 and 2007.
Just 22 years drove 90% of the gains of that portfolio over 90 years.

The Limits of “Traditional” Portfolios:

Cole argues that approaches we think of as “traditional” have done well in the recent Secular Boom, but would not have done as well in other market environments:

  • 60/40 stock/bond fund: bonds don’t counterbalance a portfolio as well under zero interest rates.
  • “buy the dip”: would have gone bankrupt 3 times in the past 90 years

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