PANews reported on January 17 that according to Jinshi, Gary Smith, an economics professor at Pomona College, and Jeffrey Funk, winner of the NTT DoCoMo Mobile Science Award, wrote that Trump's embrace of Bitcoin may be the biggest "pump and dump" in history. The U.S. federal government may foolishly spend hundreds of billions of dollars to buy Bitcoin at higher and higher prices, but is there a bigger fool than the federal government? Who will the government sell hundreds of billions of dollars of Bitcoin to? Perhaps Trump envisions a "pump and dump." In a "pump and dump" scam, a group of scammers spread false rumors about investments while trading at higher and higher prices to lure gullible people into the market. When the price is raised, the conspirators sell their holdings to those victims.

The federal government should be stopping these shenanigans, not joining the crooks in their own pump and dump. A more promising (and perfectly legal) way to reduce the debt is to cut some government spending. The real way to “Make America Great Again” (Trump’s slogan throughout his campaign and presidency) is to produce goods and services more efficiently, which will lead to lower prices, higher wages, and bigger profits.