While I'm on "origin stories", I previously found a video on where gold comes from (see previous post). Now, how about money as a concept? Where did that start? Here is an article on that: https://mastodon.social/@theconversationau/112552257174870177
#TrumpMedia, launched after an #insurrection, faces rebellion
4 suits involving the founding boosters of #TruthSocial threaten #Trump’s grasp on a massive financial haul
When #TMTG & its proposed merger ptr, #DWA, announced last month a shareholder vote on their long-delayed deal, it marked a final step for the owner of TS to become a public co potentially worth billions —most of which is owned [how much he can sell is limited] by Trump.
The danger posed to #Trump’s #finances by 2 recent judgments against him has been, if anything, underappreciated. The size of the awards, the structure of his business empire, & the condition of the #RealEstate#market combine to create a truly perilous moment for #TrumpOrganization &, by extension, for Trump’s personal finances.
#Trump must put up the $83.3M awarded to the writer #EJeanCarroll for #defamation by Mar 9. He also owes >$450M—the amt continues to grow bc of interest—in the #fraud case…&must put up #cash or post a #bond by Mar 25…
Trump doesn’t have that money on hand. In an Apr 2023 depo…,Trump bragged,“We have a lot of cash. I believe we have substantially in excess of $400M in cash,which is a lot for a developer. Developers usually don’t have cash….We have…$400M+ & going up very substantially every month”
Typically, a defendant who has substantial #assets but needs piles of #cash will obtain a #bond, rather than posting the #money themselves. Under such an arrangement, a bonding company effectively vouches for #Trump w/the court, guaranteeing that the money is available. If Trump wins his #appeal, he pays the bonding company only a fee. If he loses, he has to pay in full. But Trump seems to be struggling to obtain such a bond.
…Some coverage has suggested that a deal involving #Trump’s social-media company, Truth Social, could provide him an infusion of #cash, but the practical size of that windfall may be overstated. Major shareholders are subject to a provision that prevents large sales of stocks for 6 months, though Trump could seek a waiver allowing him to sell more sooner.