Scammer-In-Chief: Trump Launches "TrumpIRA" And His "Trump Accounts" Receive High Praise From Larry Fink - Who Will Steal Your Money And Laugh
Trump his TRIPLED his personal wealth since taking office; and he did it through crypto and selling tokens, along with real estate and resorts, and media.
Last week, President Donald Trump signed an executive order establishing what he calls “TrumpIRA,” the latest administration program with Trump’s name on it, purportedly designed to allow Americans another way to save for retirement.
On April 30th, Trump signed an EO — PROMOTING RETIREMENT-SAVINGS ACCESS FOR AMERICAN WORKERS BY ESTABLISHING TRUMPIRA.GOV — a program that will go into effect at the beginning of 2027.
From the fact sheet (emphasis mine):
Today, President Donald J. Trump signed an Executive Order to increase access to high-quality, low-cost Individual Retirement Accounts (IRAs), and up to $1,000 in Federal matching contributions, to strengthen the financial security of American workers.
The Order directs the Secretary of the Treasury to establish TrumpIRA.gov, a new Federal platform designed to connect American workers who do not have access to employer‑sponsored retirement plans with high-quality, low-cost IRAs offered by private-sector financial institutions.
TrumpIRA.gov, which will be operational by January 1, 2027, will allow workers to filter and compare IRAs based on cost, quality, and investment options, ensuring that hard-working Americans can make informed retirement savings decisions at low cost.
The Order directs the Secretary of the Treasury to ensure that workers who contribute to qualifying IRAs and meet the requisite requirements receive the Federal Saver’s Match contribution, one of the most powerful retirement savings incentives available to working Americans.
Under the Federal Saver’s Match program, the Federal government will contribute up to $1,000 per year to eligible lower- and middle-income workers who contribute to qualifying retirement accounts.
The Order directs the Secretary of the Treasury and the Commissioner of the Internal Revenue Service to issue guidance clarifying the tax treatment of contributions made by philanthropic and charitable tax-exempt organizations to IRAs on behalf of eligible workers.
The Order directs the Secretary of the Treasury to prepare legislative recommendations to codify and build upon the TrumpIRA.gov framework, establishing a permanent path for all Americans to access high-quality, low-cost IRAs and a Federal matching program.
For example, a 25-year old low-income worker who steadily saves around $165 per month and qualifies for the Saver’s Match of around $1,000 per year could, at a 6% rate of return, end up with around $465,000 by the age of 65, with nearly $155,000 attributable to the Saver’s Match.
However, what is not readily touted by the White House is that this scheme applies to low-income wages, a baseline of $20K.
CNBC noted:
Trump’s order will be integrated with the Saver’s Match, a provision from 2022 legislation known as Secure 2.0. The Saver’s Match goes into effect in tax year 2027.
Under those rules, single taxpayers with a modified adjusted gross income of up to $20,500 or joint filers making up to $41,000 qualify for a government match worth 50% of up to a $2,000 contribution to a qualified retirement account, for a maximum match of $1,000 a year. Single filers with annual incomes of between $20,500 and $35,500 qualify for reduced matching contributions. Joint filers making up to $71,000 can qualify for a reduced match.
During the signing, Trump claimed that young Americans will be able to earn $465,000 in retirement savings by the time they turn 65.
“In other words, they’ll be rich,” Trump said during the signing ceremony.
Some analysts have pushed back against the ‘rich’ claim, stating that with the pace of inflation this $465K will be worth nowhere near what it is now.
“While $465,000 could provide a healthy sum for retirement, with 3% inflation, in 30 years that’s equivalent to less than $200,000 today,” wrote Barry Glassman, a certified financial planner and founder of Glassman Wealth Services, and a member of CNBC’s Financial Advisor Council. “Again, not a small sum, but certainly does not qualify someone as rich.”
On top of this, the executive order does not explicitly explain where the money to fund this comes from. The funds come from the Treasury, but where are they getting this money from? -I think we know the answer.
Nevertheless, Trump claims this scheme will leverage the gains in the stock market.
Trump Accounts
Beginning this July, Trump Accounts will go live.
This is a scheme that would give every U.S. citizen child born between January 1st, 2025, and December 31st, 2028, a $1,000 government-funded investment account at their birth. The funds would be invested in low-cost index funds. Families are limited to investing $5,000 annually. When the child turns 18, they can use the money and interest accrued for education, buying a home, or starting a business. Withdrawals for non-approved purposes before age 30 would incur income tax and a 10% penalty.
The WinePress noted last year that this plan covertly establishes a CBDC-like deposit that comes from the Treasury, which draws upon digital deposits from the Federal Reserve.
BlackRock CEO and World Economic Forum co-chair adores this plan.
In his annual letter to investors — this year’s theme being ways to address wealth inequality and health younger generations around the world to get access to more capital, ownership, and retirement for the future — Fink praises the President for these Trump Accounts.
“Another way to get more people investing is through early wealth-building accounts. These are investment accounts given to children at birth. Countries like Canada, the U.K., and Singapore have experimented with them, often seeding them with government funding. And there’s a lot of evidence that it’s a good return on investment: On average, early wealth-building accounts make it more likely for someone to earn an advanced degree, start a business, and own a home.
“Now the United States is adopting a form of this policy with Trump Accounts. There is some nuance in how these accounts are funded. In some cases, it’s a pilot program funded by the government, which would need to be renewed. Funding can also come through personal contributions, or through certain employer match programs, such as the one we have at BlackRock for our employees. In other cases, the money comes from private funders.
“We’ll see how these accounts evolve, but if they are structured thoughtfully, and paired with existing investment vehicles for education and retirement (like 529 and 401(k) plans), this could be a very significant step toward more young Americans growing with their country.”
In January, Treasury Secretary Scott Bessent said the administration is working with the states to figure out how they can and will contribute to this scheme.
“The final way of funding Trump Accounts is through state governments.
“The administration has been working closely with a number of governors to determine the best way states can work with the federal government to expand access to Trump Accounts to as many children as possible. States are the laboratories of our democracy, and their experiments with Trump Accounts will surface the best methods for funding over time.”
On top of the public partly funding this plan, a number of institutions have contributed to the Trump Accounts, including BlackRock.
But the gains and savings the Trump administration has promoted are far from guaranteed.
On the official website, the administration claims that some Americans could make upwards of $13 million by the time they are 55.
But the fine print tells a different a story:
“Estimates are for illustration only, and are based on an account opening at birth with $1,000 opening deposit and are derived from historical S&P 500 averages. Actual results may differ and are not guaranteed.”
Since the money has to be invested in the stock market, there are no guarantees whatsoever that the markets will continue to be bullish for years and even decades to come (and markets never do). Therefore, it is just as equally possible for depositors to lose their investments if the markets fall precipitously.
Nevertheless, Bessent claimed last month that over 5 million children have been registered, and 1.2 million of them are eligible for a $1,000 pilot program contribution, which he revealed at CNBC’s Invest in America Forum.
AUTHOR COMMENTARY
Proverbs 28:15 As a roaring lion, and a ranging bear; so is a wicked ruler over the poor people.
Yeah, and remember when Lutnick told everyone that he sold many thousands of Trump Cards, then we found out only ONE has been approved since the scheme launched?
I don’t pity anyone who falls for these blatant scams.
If Larry Fink says Trump Accounts are good, then you know it’s bad. That money is tied-up in the stock market — the stock market run by the same money changers that Fink and BlackRock heavily own and manage, and Trump helps to front-run and manipulate on a regular basis. That money will be GONE in no time at all.
Same for the TrumpIRA. It’s comically stupid. Where is all this money coming from? Exactly, our wallets. The government is broke, and they want young, dumb, yuppies to foolishly entrust the government to hold their retirement savings and raise capital for it. Seriously, you have to be a low-IQ fool to fall for this.
These are the latest rug pulls. Blatant, in your face, scams.
Furthermore, when Press Secretary Karoline Leavitt helped promote Trump Accounts earlier this year, she openly stated: “It brings the private sector and the federal government together.”
That is the definition of FASCISM.
Micah 3:11 The heads thereof judge for reward, and the priests thereof teach for hire, and the prophets thereof divine for money: yet will they lean upon the LORD, and say, Is not the LORD among us? none evil can come upon us.
Preceding the final days of an empire, the treasury gets drained and everything devolves into market manipulation and gambling. Trump and his rich friends are siphoning what they can from a dying system before the plug is pulled.
Trump his TRIPLED his personal wealth since taking office; and he did it through crypto and selling tokens, along with real estate and resorts, and media.
This has been the policy of this administration since it began with memecoins and NFTs that are now worthless, along with World Liberty Financial and the Genius Act, and all the brazen market manipulation he does with tariffs and the Iran War.
Save your scams for someone else.
Proverbs 28:20 A faithful man shall abound with blessings: but he that maketh haste to be rich shall not be innocent. [21] To have respect of persons is not good: for for a piece of bread that man will transgress. [22] He that hasteth to be rich hath an evil eye, and considereth not that poverty shall come upon him.
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Good grief!