Trump’s latest grift seems like an excellent money laundering opportunity
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Bitcoin seems like the natural currency to buy one of Trump’s tacky $100,000 watches:
Key to the controversy is the method of payment accepted for these watches. Buyers can use Bitcoin, a digital currency favored for its anonymity. This capability to purchase high-ticket items like the $100,000 Tourbillon watch without traceable financial footprints poses a significant challenge to ensuring financial transparency. It opens the door to the possibility of moving large sums of money discreetly, circumventing traditional financial oversight and potentially violating campaign finance laws.
Trump Watches are marketed globally, available to international buyers, including foreign dignitaries and business magnates. This global sales strategy complicates adherence to U.S. regulations designed to prevent foreign contributions to political campaigns. The website’s caveat that international customers handle their own taxes and duties adds another layer of complexity, distancing the transactions from stringent regulatory scrutiny.
Donald Trump is notoriously transactional, and with the introduction of these $100,000 watches, it’s conceivable that someone might purchase one as a straightforward means to curry favor with him, leveraging the purchase for political gain.
Further muddying the waters is the disclaimer on the Trump Watch website that the product images are for illustration purposes only, suggesting that what is marketed may not reflect the actual product, and that an actual product may not even yet exist. This vagueness is unusual for luxury goods and raises questions about consumer transparency and product authenticity.
The possibilities for campaign finance abuse here are abundant. I doubt, though, that Trump is interested in sharing any of the profits with his campaign as opposed to his own pockets, so the real danger here is probably more straightforward emoluments for implicit favors, and as Anthony Kennedy says as long as it’s just implicit nobody can think there’s anything shady going on.