Conspiracy theorists at CNN suspect that billionaire President Donald Trump’s interest in holding the G7 summit at his Trump National Doral golf resort in Florida may stem from him essentially being broke or close to it.
“One thing it has me thinking about is just how much this man must actually need money,” CNN guest Timothy D. Snyder, a history professor at Yale University, said while speaking on Saturday evening with network host Ana Cabrera.
“Why else would he be doing this? We still don’t know whether Mr. Trump has money. We know he has lots of debts and that he is going for a million here and a million there with these sorts of things. It suggests he might really need money,” he added.
Listen to Snyder’s conspiracy theory below:
Of the numerous conspiracy theories peddled by CNN, this may perhaps be the most bizarre, in that the actual facts appear to completely contradict Snyder’s narrative.
Note for example how he spoke of the president trying to earn “a million here and a million there” while he is president of the United States.
As the GOP presidential nominee in 2016, Trump promised: “If I’m elected president, I’m accepting no salary.” According to PolitiFact, he’s kept that promise.
“President Donald Trump continues to maintain his campaign promise to donate his $400,000 annual White House salary with U.S. government agencies,” the left-wing fact-checking site confirmed two months ago.
Below are the president’s salary distributions from 2017 to the present:
- Second quarter 2019: Surgeon General’s office
- First quarter 2019: Department of Agriculture
- Fourth quarter 2018: Department of Homeland Security
- Third quarter 2018: National Institute on Alcohol Abuse and Alcoholism
- Second quarter 2018: Small Business Administration
- First quarter 2018: Veterans Administration
- Fourth quarter 2017: Transportation Department
- Third quarter 2017: Health and Human Services’ (opioid criss)
- Second quarter 2017: Education Department
- First quarter 2017: National Park Service
In reality, the president has voluntarily allowed himself to lose money as president.
“The presidency, we found, accounts for … about $200 million of the $1.4 billion drop in Trump’s net worth,” Forbes reported around the same time PolitiFact dropped its fact-check.
Why such a steep loss? Because of his fervent willingness to implement the conservative policies sought by the millions of Americans who voted him into office in 2016.
“Trump National Doral, the president’s largest golf property, has historically drawn much of its clientele from parts of the country where Trump is unpopular,” Forbes’ report continued. “The resort has seen a steep drop in business since Trump went into politics. The Trump Organization’s traditional wheelhouse of luxury rental residential real estate is suffering too, since much of it sits in blue cities like New York and Chicago. And the president’s brand licensing businesses have basically flatlined.”
Forbes article from August on how much money Trump has lost because he is president pic.twitter.com/l1MvWcVEoY
— Ryan Saavedra (@RealSaavedra) October 19, 2019
But these losses don’t mean he’s going broke. Nor do they prove that he’s suddenly conspiring to reverse the trend and instead start earning a buck from being in office.
Speaking at a campaign rally in August about his financial losses, the president bluntly said he’s more concerned with implementing his agenda.
“It’s probably gonna cost me, including upside-downside lawyers, because every day they sue me for something,” he said. “These are the most litigious people.”
“It’s probably costing me from three to five billion for the privilege of being [president], and I couldn’t care less. I don’t care,” he continued. “You know, if you’re wealthy, it doesn’t matter. I just want to do a great job. That’s why I don’t care. I want to do the right job.”
(Source: NBC News)
Continuing his conspiracy theorizing on CNN late Saturday, Snyder then turned to concerns about the president allegedly violating the Emoluments Clause.
“But the legal issue is much more profound,” he said. “The Constitution explicitly forbids presidents making money by being president. That’s called the Emoluments Clause. And also, this could be connected to a much deeper issue of corruption, which makes me surprised that he’s chosen this golf course.”
“He only owns this golf course because of loans he got from Deutsche Bank at a time when Deutsche Bank was the only bank loaning to him, and also at a time when Deutsche Bank was deeply involved in laundering money from very suspicious foreign investors,” he added. “So it’s odd to me that he would want to draw attention to this particular property at this particular time.”
The president also addressed concerns about the Emoluments Clause in his August speech.
“I got sued on a thing called emoluments … Now, nobody looks at Obama getting $60 million for a book,” he said. “That’s okay, even though nobody in history ever got that much money for a book. Obama got 60. Think of it, $60 million for a book. But with me, it’s everything.”
Former President Barack Hussein Obama and his wife, former first lady Michelle Obama, did accept a record-setting $60 million book deal after their time in the White House concluded.
“Emoluments — nobody knows what it is,” the president continued. “Here’s the good news. Last month I just won two cases on emoluments, and the judge was scolding of the other side. And what it is, is presidential harassment, because this thing is costing me a fortune and I love it. Okay? I love it because I’m making the lives of other people much, much better.”
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