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Trump's "Sovereign Wealth Fund" may Threaten Public Lands [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-02-21
An article posted by americanprogress.org yesterday describes a potential threat to our public lands. On February 3, Trump signed an executive order commanding the creation of a sovereign wealth fund (SWF).
An SWF is a state-owned investment fund made up of money generated by the government, often derived from a nation’s natural resource revenues, budget surpluses, or foreign currency reserves. President Trump’s order charges the secretaries of the treasury and commerce departments with developing a plan for finding the money needed within 90 days of its signing. At the signing ceremony, U.S. Treasury Secretary Scott Bessent explained where some of the money might come from: “We are going to monetize the asset side of the U.S. balance sheet for the American people. We are going to put the assets to work.”
“To generate hundreds of billions or trillions of dollars, the Treasury Department may find that selling public lands to the highest bidders is the only way to raise that kind of money quickly.” www.americanprogress.org/...
Once created, such a SWF is used to invest in stocks, bonds, real estate, and other vehicles — including bitcoin, according to Trump’s crypto advisor David Sacks. In other words, a giant slush fund to reward fellow oligarchs.
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[1] Url:
https://www.dailykos.com/stories/2025/2/21/2305255/-Trump-s-Sovereign-Wealth-Fund-may-Threaten-Public-Lands?pm_campaign=front_page&pm_source=more_community&pm_medium=web
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