Social Media

Trump Brags that Truth Social is the ‘Voice’ of His ‘Movement’ and Begs His Cult to Support It

Posted by on April 12, 2024 at 1:38 pm. 0 Comments :

Shortly after Donald Trump incited the violent insurrection at the Capitol on January 6, 2021, he was banned from Twitter in order to prevent him from fomenting more riots by spreading more lies about the 2020 presidential election being “rigged and stolen” from him.

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Donald Trump

In retaliation for that preventative measure by the responsible moderators at Twitter at the time, Trump launched his own social media site, Truth Social, that he promised would be a bastion of free speech for everyone. Of course, that was never the purpose of the site. It was always intended to be a platform for Trump to disgorge his rancid rants that consisted almost entirely of attacking his enemies, exalting himself, and funneling cash into his own pockets. The latter of which hasn’t worked out particularly well for him…

SEE THIS: Trump’s Truth Social Craters in First Week of Trading, Auditor Doubts Its Ability to Continue

In the few weeks that the Trump Media and Technology Group (TMTG) stock has been listed on the NASDAQ, it has suffered devastating losses. It has declined 62.5% from the high it hit on its first day of trading. Anyone who invested in it, and didn’t sell on day one, has already lost a bundle. It’s CEO couldn’t account for its flopping on Fox News. And it’s only gonna get worse.

Consequently, Trump is attempting to pump up the stock so that there is something left for him when he is legally able to dump it. Which, barring any favors from the TMTG boar, won’t be for six months. So on Friday morning Trump posted a comment on Truth Social to beseech his glassy-eyed cult disciples to bail him out.

“I am so proud of Truth Social, because I believe it represents the Make America Great Again Movement, and it shows the Spirit and Love of our Country. If people who believe in putting America First and want to Make America Great Again, support TRUTH, we will be your Voice like never before, and a Real Voice is what our Country needs, because we are in decline, and must bring America to Greatness. Think of this as a Movement, the Greatest Movement in the History of our Country. We are going to Save our Country, and Make America Great Again, GREATER THAN EVER BEFORE!”

Let’s set aside the pathetic spectacle of this fake billionaire begging his saps to salvage his sinking social media scam. And never mind the absurdity of Trump praising it as a place that “shows the Spirit and Love of our Country,” when it’s mostly a fetid swamp of hostility and negativity. Even in this comment Trump maligns America as a country “in decline.”

What Trump is actually revealing here is that the site is not, and never was, the Internet “town hall” that he promised. He is now saying explicitly that it is his vehicle to exclusively promote his interests and to advance his “movement.” And therefore, he implores his MAGA minions to “support TRUTH.” In other words, join and prop up his failing business and stock.

So according to Trump, Truth Social isn’t really a free speech platform at all. It’s the PR arm of a partisan movement (aka cult), and slush fund generator for Dear Leader. But if it were truly “the Greatest Movement in the History of our Country,” he wouldn’t have to shamelessly solicit this support, and sponge off of his pitiful flock, and lie about his imaginary success. But then again, when has he ever done anything but that?

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Fox News Host Asks Trump’s Truth Social CEO About its Stock Flop, Gets Babbling Lies in Response

Posted by on April 7, 2024 at 1:04 pm. 2 Comments :

The saga of Donald Trump’s frequent financial failures continues unabated into the 2024 presidential election cycle. The most recent example of a Trump enterprise that is destined to go belly up is his ego-driven social media scam, Truth Social, that he launched after he was banned from Twitter for posting flagrant and dangerous lies.

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Donald Trump, Stock Market

In its short history, the Trump Media and Technology Group (TMTG), which runs Truth Social, has racked up an impressive record of failure. It has lost millions of dollars, been investigated for securities fraud, and seen its early investors arrested for insider trading. And to top it off, its newly listed stock suffered a massive meltdown, resulting in fortunes being lost by Trump’s most devoted supporters.

SEE THIS: Trump’s Truth Social Craters in First Week of Trading, Auditor Doubts Its Ability to Continue

On Sunday morning Devin Nunes, the CEO of TMTG, and former Trump-fluffing GOP congressman, was interviewed by Maria Bartiromo on Fox News. The segment began with a surprisingly accurate summary of the troubles the stock encountered in going public. Bartiromo, ordinarily an ardent purveyor of pro-Trump propaganda, prefaced her interview with some uncharacteristically (for Fox News) factual information (video below)…

“President Trump’s media company has had a volatile two weeks. The stock finished down about 30% this week. The company, which operates Trump’s Truth Social platform, lost $4 billion in market value after gaining six billion in value during its debut on the Nasdaq two weeks ago. For 2023, Trump media posted a loss of $58 million on revenue and $4.1 million in a regulatory filing. The company also disclosed that its auditor had raised concerns about its ability to continue operating before its recent merger and IPO.”

OUCH! Bartiromo then introduced Nunes and asked him pointedly, “When would you expect this company to turn profitable?” Notice that Nunes never comes close to answering the question. Instead, he rambles incoherently about unrelated and/or imaginary obstacles that he says the company has faced. And true to the Trump ethos, the company was a victim of a devious cabal of covert enemies conspiring against it.

“Look, it’s important to remember that those numbers are based on what was the longest IPO in history. So we were over regulated. So if you actually look at the cost we built Truth Social – our beachhead against Big Tech, an impenetrable beachhead that everybody said couldn’t be done without using Big Tech companies – that was built for a fraction of what many of these Big Tech dinosaur companies were built for. So even if you take the ridiculous cost that it took us to get to this point, we are well positioned. Why are we well positioned? Because we have no debt. We’re coming out of this with no debt, a platform that works really, really well, that communicates to millions of people. And then we have $200 million in the bank.”

For the record, it was not the longest IPO in history. And his definition of “over regulated” just means having been required to comply with the same laws that every other company does prior to a stock market listing. If it was launched on the cheap, as Nunes claims, that’s apparent in how often it has crashed, including on the day it premiered on the NASDAQ. So much for it being “a platform that works really, really well.”

As for Nunes’ claims that the company is “well positioned” and free of debt, that reeks of stock fraud considering its huge losses, of which about 67% is interest on outstanding loans. Undeterred by reality, Nunes then unleashes a buzzword salad, saying that he is looking at “the entire ecosystem,” and asserting that the primary question his business is asking is “What does it take to make sure that we protect people in the United States and around the globe from these tyrants of Big Tech who want to silence them?” See? It’s all an altruistic venture for Nunes and Trump.

Of course, Nunes is not alone in his deceitful grifting. Trump has also been pumping this dump of a stock. A few days ago he posted a comment blasting all of his competitors as “those in the Radical Left Democrats Party who are failing at every level.” And he touted Truth Social as “the primary way I get the word out and, for better or worse.” It’s interesting that he acknowledges the “worse” part of that. Then he claimed that “people want to hear what I have to say, perhaps, according to experts, more than anyone else in the World.” And by “experts” he means his MAGA cultists and other assorted rubes, such as his army of disbarred attorneys and the incarcerated January 6th insurrectionists.

If Nunes’ appearance on Fox News is successful in getting some more of their viewers to buy TMTG stock Monday morning, it may get a bit of bounce. But in the end it is still likely to sink to a level approaching the amount of debt that Nunes says the company has – ZERO! And they will get what they deserve for believing an obvious con men.

UPDATE I: Apparently Nunes’ appearance on Fox News was not successful (surprise). Rather than the bounce he hoped for on the Monday morning following his interview, the TMTG stock dived another 10%, putting it down about 55% from it’s high, and below it’s opening price one the first day of trading.

UPDATE II: One week later, the stock is continuing to decline. So the company announced that it is issuing 21.5 million new shares, diluting the value even more.

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Trump’s Truth Social Craters in First Week of Trading, Auditor Doubts Its Ability to Continue

Posted by on April 1, 2024 at 12:30 pm. 4 Comments :

The myth of Donald Trump as a savvy businessman has been circling the drain for decades. In reality he is a nepo-baby who inherited his wealth and promptly lost much of it in failed real estate deals and multiple bankruptcies. He only managed to salvage his reputation by working as a TV game show host for fourteen seasons of “The Apprentice,” where he playacted as a successful and ruthless CEO.

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Donald Trump Circling the Drain

Trump’s latest misadventure in business is his Trump Media and Technology Group (TMTG), a hollow shell of company formed by stealing a Twitter clone’s code and merging with a blank-check place holder on the Nasdaq stock exchange. From its inception it has stumbled through financial and legal sinkholes that would spell doom for any business not fronting for a populist cult leader.

New filings by TMTG show just how dismal the financial condition of the company is. NBC News is reporting that…

“Trump Media and Technology Group, which operates the Truth Social platform, reported it lost $58.2 million in 2023 while generating total revenues of $4.1 million, according to the Monday filing with the Securities and Exchange Commission. Trump Media listed its largest expense for the year as interest payments totaling more than $39 million.”

So TMTG is operating deep in the red, just like most of the red states where Trump’s most devoted disciples reside. And it’s notable that about 67% of the company’s reported expenses are in interest payments. That means they are heavily leveraged with loans that they will likely have trouble repaying considering their feeble revenue. The report went on to reveal even more ominous news, saying that…

“‘The filing includes a note from an independent accounting firm, Colorado-based BF Borgers CPA PC, warning that Trump Media’s ‘operating losses raise substantial doubt about its ability to continue as a going concern.’ The firm has worked with Trump Media since 2022.”

Anyone with even a novice’s knowledge of investing would have recognized that TMTG (with the doom-fated ticker symbol, “DJT”) was a catastrophe waiting to happen. And in its very first week on the stock market, it proved its worthlessness. Following the release of its financial filing the stock nosedived about 20%. It quickly sunk to the level that it priced at on its opening day a week ago. Shareholders who bought in at the beginning lost as much as 38% as the stock dropped from its high of $79.00 to under $50.00.

A lot of the press chatter about the stock has focused on the potential windfall it would present for Trump. At one point he was said to have gained a paper bounty of $6 billion. However, that presupposes that he sells his shares while stock price remains in the stratosphere. Which is a ship that has already sunk.

Furthermore, Trump is bound by a lock-up provision that prohibits him from selling any shares for six months. While the TMTG board – made up of mostly Trump flunkies – could vote to waive that provision, it would still be problematic for him to sell. For one thing, it would immediately tank the share value of the stock. That would impact the holdings of all of the board members and temper any enthusiasm to give Trump a waiver.

What’s more, if the board did give Trump a waiver, it would open the board members up to lawsuits from every other shareholder, including deep-pocketed institutions, who would lose money as a result. It would, therefore be pretty stupid for the board to vote for a waiver that would cost the board members millions and put them in massive legal peril.

Would they do it anyway? Maybe. It is, after all, a cult. And the cult leader gets his way. He is even suing the founders of Truth Social for allegedly mismanaging the company in its early days. Although it is a retaliatory suit, because those founders sued him first for trying to deprive them of the shares they were contractually promised.

In addition to the financial risks for investors. TMTG poses a grave national security risk. Adversarial foreign interests could exploit the stock as a backdoor to funneling money (i.e. bribes) to Trump. Vladimir Putin and/or his Russian oligarchs, Mohammed Bin Salmon, Xi Jinping, and even wealthy, allegedly American billionaires, could simply purchase shares of TMTG to artificially inflate its stock price in exchange for “favors” from Trump.

All of this exposes Trump’s stock as a potentially dangerous vehicle for investors, as well as for all Americans and the sovereignty of the nation. The sooner it flatlines (representing its true value) the better. For the record, here are some other recent stories about Trump’s misadventures in social media and the stock market…

Trump’s Truth Social is Revealed to Be Another Terribly Risky Trump Scam – By Its Own Prospectus
A quick look at the company’s prospectus should frighten off any astute investors. It is exposed as “a high-risk, speculative operation with few hard numbers behind it. It’s already the subject of subpoenas, from regulators and a grand jury, even though it’s barely off the ground.”

Trump’s Truth Social Reports Massive Losses and Warns that it Could Go Out of Business
A Securities and Exchange Commission (SEC) filing by the company reveals its financial frailty. The report paints a pitiful picture of the enterprise’s prospects going forward and reveals that it has lost $31.5 million since it opened for business just two years ago.

Trump’s Truth Social Continues to Collapse as Its Biz Partner Loses Virtually All of its Funding
The funding partner for TMTG said that it will return the remaining $533 million of the $1 billion raised to finance the venture after investors canceled $467 million of commitments.

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

LOCK HIM UP: Trump’s TRUTH Social Scam is Being Criminally Investigated By a Federal Grand Jury
In addition to the Grand Jury proceedings, the SEC is investigating whether TMTG and DWAC executives improperly coordinated with each other and engaged in insider trading. They have also partnered with a Chinese firm with a dubious legal past.

Be sure to visit and follow News Corpse
on Twitter and Facebook and Instagram and Threads.

And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.

Trump’s Truth Social is Revealed to Be Another Terribly Risky Trump Scam – By Its Own Prospectus

Posted by on February 18, 2024 at 1:08 pm. 4 Comments :

The insufferable saga of Donald Trump’s Truth Social website, and his desperate attempts to remain relevant online since he was booted from Twitter, is continuing to descend ever deeper into an abyss of his own making. And this downward spiraling is accelerating despite his relentless contributions of posts that are primarily incoherent and emotional outbursts of hostility, ignorance, and self-exaltation.

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This week the Securities and Exchange Commission inexplicably approved the merger between Truth Social’s parent company, Trump Media and Technology Group (TMTG), and Digital World Acquisition Corp (DWAC), the shell company that Trump hopes to use to get a stock market listing. That news contributed to DWAC’s stock price tripling since the beginning of the year ($16.00- $48.00). Or maybe it was because the Biden-Harris campaign created a Truth Social account and began posting a few weeks ago.

SEE THIS: The Biden Campaign is Now on Trump’s Truth Social For Your Entertainment Pleasure

However, no one but confirmed Trump Cult devotees should be jumping into this stock if they care about preserving their money. A quick look at the company’s prospectus should frighten off any astute investors. Some of the risks disclosed in the prospectus were reported by MarketWatch

“Truth Social, his would-be Twitter rival, is a high-risk, speculative operation with few hard numbers behind it. It’s already the subject of subpoenas, from regulators and a grand jury, even though it’s barely off the ground. Oh, and Trump is not required to use the social-media site much — if at all — to communicate with the public, notably if voters were to return him to the White House. You buy the stock at your own peril.”

[And…]

“Digital World has been in trouble with the Securities and Exchange Commission, and recently agreed to pay $18 million to settle fraud charges relating to this potential merger.”

[And…]

“A number of companies that were associated with President Trump have filed for bankruptcy…There can be no assurances that TMTG will not also fail.”

The prospectus also discloses the six bankruptcies among Trump’s hotels and casinos, and other business failures, such as his airline, vodka, steaks, mortgage, and travel agency. Also mentioned was his fraudulent university that was ordered to pay $25 million in compensatory damages. The article didn’t mention his bogus charity that was also fined and shuttered.

Furthermore, the prospectus included a section enumerating Trump’s numerous pending criminal cases. The 91 felony charges included everything from financial fraud, to inciting a violent insurrection, to threatening election officials, to stealing (and perhaps disseminating) classified documents. And let’s not forget his being found civilly liable for rape and ordered to pay $354 million for falsifying his financial statements.

MarketWatch noted that TMTG reported a measly 8.9 million users. But that’s okay because it “believes that adhering to traditional key performance indicators, such as signups, average revenue per user, ad impressions and pricing, or active user accounts” is a distraction.

Perhaps they are figuring in Trump’s “brand” value. Although on that measure, the prospectus says that Trump is only “required to post certain of his social-media messages there first…And the Truth Social exclusivity on each post only lasts for six hours. [and he] can even cancel this agreement with 30 days’ notice, ‘at any time on or after February 2, 2025.'” Which is suspiciously just two weeks after Inauguration Day.

The recent surge in DWAC’s stock should be regarded with ample amounts of skepticism. The stock has had similar spikes – and subsequent declines – several times. Investors and Trump Cult disciples who bought in at $170.00 a share are still seriously screwed. But maybe they continue to believe that Trump can earn it all back with his latest business venture: grotesquely gold “Never Surrender” sneakers…

UPDATE: As evidence that Trump will eventually turn on you, no matter who you are and how much you suck up to him, Truth Social co-founders accuse Trump of trying to rip them off in merger.

For the record, here are some other recent stories about Trump’s misadventures in social media and the stock market…

Trump’s Truth Social Reports Massive Losses and Warns that it Could Go Out of Business
A Securities and Exchange Commission (SEC) filing by the company reveals its financial frailty. The report paints a pitiful picture of the enterprise’s prospects going forward and reveals that it has lost $31.5 million since it opened for business just two years ago.

Trump’s Truth Social Continues to Collapse as Its Biz Partner Loses Virtually All of its Funding
The funding partner for TMTG said that it will return the remaining $533 million of the $1 billion raised to finance the venture after investors canceled $467 million of commitments.

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

LOCK HIM UP: Trump’s TRUTH Social Scam is Being Criminally Investigated By a Federal Grand Jury
In addition to the Grand Jury proceedings, the SEC is investigating whether TMTG and DWAC executives improperly coordinated with each other and engaged in insider trading. They have also partnered with a Chinese firm with a dubious legal past.

Be sure to visit and follow News Corpse
on Twitter and Facebook and Instagram and Threads.

And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.

Trump’s Truth Social Reports Massive Losses and Warns that it Could Go Out of Business

Posted by on November 14, 2023 at 12:27 pm. 7 Comments :

When Donald Trump announced the launch of Truth Social he boasted that it would be bigger and better than anything that had come before it, including Twitter (which some call “X”), the platform that had banned him for trying to incite a violent insurrection. To put it mildly, Truth Social has not lived up to the hype.

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Donald Trump Circling the Drain

The failure of Truth Social doesn’t come as a surprise to anyone who has tracked Trump’s record in business. He has left a trail of bankruptcies, closures, lawsuits, and fraud for decades. And true to form, his Trump Media & Technology Group (TMTG) has produced a website that is neither truthful nor social. In fact, it’s become something of a joke…

SEE THIS: The Biden Campaign is Now on Trump’s Truth Social For Your Entertainment Pleasure

The latest dire news about Truth Social comes from a Securities and Exchange Commission (SEC) filing by the company that reveals its financial frailty. The report paints a pitiful picture of the enterprise’s prospects going forward and reveals that it has lost $31.5 million since it opened for business just two years ago.

“Since launching, former President Donald Trump‘s Truth Social and its parent company Trump Media and Technology Group took in $3.7 million in net sales, and lost tens of millions of dollars.

“The numbers are the first time that any internal financial details on the social platform have been shared publicly, and they suggest that while Trump has made Truth Social his primary social media platform, it has not been translating into meaningful revenue for the tech startup, which is owned by Trump Media & Technology Group (TMTG). […]

“The financial situation of TMTG is such that ‘TMTG’s independent registered public accounting firm has indicated that TMTG’s financial condition raises substantial doubt as to its ability to continue as a going concern,’ according to the filing.”

The filing also notes that “management has substantial doubt that TMTG will have sufficient funds to meet its liabilities,” and that “it may be difficult to raise additional funds.” That’s largely due to the breakdown of TMTG’s plan to merge with Digital World Acquisition Corp (DWAC), a special purpose acquisition company that they hoped would lead to a listing on the stock exchange and a billion dollars in pledged investments. That deal has not only gone south – along with the pledged investments – but DWAC has been tangled up in legal probes alleging fraud and misconduct.

Furthermore, Trump’s latest financial disclosure form reveals that his 90% controlling stake in TMTG is now valued at between $5-$25 million. That’s a decline of more than 97% from the $875 million the venture was valued at when it was announced. And given the brief history of this boondoggle, he’s lucky to have that. It was a scam from the start, and Trump knew it. He even removed himself and Don Jr from the board of TMTG just weeks before subpoenas were served.

Meanwhile, here’s a few recent stories about Trump’s misadventures in social media…

Trump’s Truth Social Continues to Collapse as Its Biz Partner Loses Virtually All of its Funding
The funding partner for TMTG said that it will return the remaining $533 million of the $1 billion raised to finance the venture after investors canceled $467 million of commitments.

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”

Trump’s Truth Social CEO Whines that Shareholders in His Alt-Twitter Scam Are Being Wiped Out
Nunes visited Newsmax to swing open his tear ducts with mournful moaning about the catastrophic business for which he is the chief executive.

Trump Made Less than $200 on Truth Social According to His FEC Financial Disclosure
As for Trump, he was reported to own 90% of TMTG, which earned him less than $200 according to his financial disclosure. That’s hardly representative of the huge success that Trump has claimed Truth Social to be.

Trump’s ‘Truth Social’ Faces Legal and Financial Turmoil Amid Disclosures of Russian Funding
The report notes that the sources of the funding include the off-shore Paxum Bank, based in the Caribbean island nation, Dominica. It is notorious for “providing banking services for the pornography and sex worker industries, which makes it higher risk of engaging in money laundering and other illicit financing.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

LOCK HIM UP: Trump’s TRUTH Social Scam is Being Criminally Investigated By a Federal Grand Jury
In addition to the Grand Jury proceedings, the SEC is investigating whether TMTG and DWAC executives improperly coordinated with each other and engaged in insider trading. They have also partnered with a Chinese firm with a dubious legal past.

Be sure to visit and follow News Corpse
on Twitter and Facebook and Instagram and Threads.

And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.

The Biden Campaign is Now on Trump’s Truth Social For Your Entertainment Pleasure

Posted by on October 16, 2023 at 1:27 pm. NO Comments :

President Biden has been extraordinarily busy in the past couple of weeks. He has been struggling to do the people’s business while the utterly inept Republicans in Congress have crippled the legislative branch with their failure to complete the most common tasks, such as electing electing a Speaker or proposing a platform.

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Donald Trump, Joe Biden

Furthermore, the attack on Israel by the Hamas terrorists has understandably consumed a significant portion of Biden’s time. That’s in addition to the administration’s efforts on behalf of Ukraine, the delicate relations with China, the diplomacy with our international allies, and the many domestic matters that crowd the White House calendar.

Meanwhile, Republicans continue to fritter away their days with purely political posturing and pettiness. Their legislative agenda consists of little more than sham investigations of Hunter Biden and phony “weaponization of government” hearings, that are the true perpetrators of government weaponization. And amidst all of that, their Dear Leader, Donald Trump, remains devoted to doing nothing but posting inanities on his Truth Social scam that is getting closer to bankruptcy every day.

SEE THIS: Trump’s Truth Social Continues to Collapse as Its Biz Partner Loses Virtually All of its Funding

Since the GOP cult is so fixated on Trump and his mindless musings online, the Biden campaign has decided that if you can’t tweet them, why not troll the heck out of them on their own turf. Consequently, they have created an account on Truth Social where they can post some actual truths for the MAGA disciples to ignore and/or freak out about. Here are the first few posts by the Biden campaign that are getting in Trump’s face on his own website…

By contrast, at the same time Trump was posting his dismay at being told by a judge that he cannot continue to intimidate court officials and witnesses. He raged that “A TERRIBLE THING HAPPENED TO DEMOCRACY TODAY – GAG ORDER!” Actually, it’s precisely the same treatment that any other belligerent defendant would get. But in Trump’s perverse perspective it warrants the following bizarre run-on sentence that exhibits just how mentally disturbed he is…

“A Leaking, Crooked and Deranged Prosecutor, Jack Smith, who has a terrible record of failure, is asking a highly partisan Obama appointed Judge, Tanya Chutkan, who should recuse herself based on the horrible things she has said, to silence me, through the use of a powerful GAG ORDER, making it impossible for me to criticize those who are doing the silencing, namely Crooked Joe Biden, and his corrupt and weaponized DOJ & FBI.”

Biden campaign officials told Fox News that “There’s very little ‘truth’ happening on Truth Social, but at least now it’ll be a little fun.” And a statement by Trump campaign spokesperson Steven Cheung, said that, “Crooked Joe Biden and his team are finally acknowledging that Truth Social is hot as a pistol and the only place where real news happens.”

Not exactly. What Biden and his team are acknowledging is that there is a rich mine of troll worthy malarkey on Truth Social and they aim to take full advantage of it. At least until they get banned. It’s not unlike the recent video of Marjorie Taylor Greene itemizing what she considered to be criticisms of Biden’s agenda, but which the Biden campaign reposted verbatim with pride for the broadly popular accomplishments they achieved in their first two years.

UPDATE: Biden Campaign Surpasses Trump Campaign In Followers On Truth Social In Two Days

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Trump’s Truth Social Continues to Collapse as Its Biz Partner Loses Virtually All of its Funding

Posted by on October 15, 2023 at 10:49 am. 3 Comments :

Donald Trump is a one man crime syndicate who currently has 91 felony counts pending in four criminal indictments. The charges against him range from paying hush money to a porn star, to falsifying business records, to unlawful possession of classified documents, to obstruction of justice, to election interference, to inciting an insurrection, and so much more.

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Donald Trump Circling the Drain

This is an unprecedented display of depravity that more closely resembles the behavior of an inept mob boss than a former president. And it is more than just a legal calamity for Trump. It is an embarrassment to the Republican Party and his cohorts in Congress who still support him and his criminal conduct, and upon whom he is relying for salvation.

RELATED: Scared and Desperate Trump Begs Congress to Save Him From the Meanies Prosecuting His Crimes

Consequently, it should come as no surprise that Trump’s Twitter ripoff, Truth Social, is mired in the same sort of criminal controversies that have followed Trump for decades. And now it is suffering yet another setback as it barrels toward bankruptcy. According to reports…

“The funding partner for Trump Media & Technology Group (TMTG) said that it will return the remaining $533 million of the $1 billion raised to finance the venture after investors canceled $467 million of commitments.” […]

“The loss of funding for DWAC [Digital World Acquisition Corp.] appears to be a step backward for the prospective merger between the company and Trump’s media outfit, which runs Truth Social.” […]

“With the loss of the funding, it’s unclear how Trump’s media group, called Trump Media & Technology Group, would finance its operations after the merger. The plan was that DWAC would provide TMTG with a deep pool of funds after the merger was completed.”

TMTG’s CEO, former GOP congressman Devin Nunes, inexplicably called the fund forfeiture “an important step towards…completing our merger,” However, he didn’t bother to explain how the loss of nearly a billion dollars in financing would lead to that end, or how it would benefit shareholders.

For some background, shortly after Truth Social was launched it was tied to DWAC, a special purpose acquisition company (SPAC). The law prohibits SPACs from discussing potential acquisition targets prior to their formation. But laws have never been an impediment to grifters in Trump World. The stock immediately ran up to $175.00, which is where the now indicted investors bailed out with huge gains. The stock now sits at about $15.00.

There are good reasons for the stock’s abysmal performance. The whole enterprise is a sham that can’t grow its user base or attract advertising. Meanwhile, the reputation for illegal activity on Trump’s part has been evident in the affairs of his Truth Social disease. What follows are a just a few of the licentious legal landmarks for the illicit enterprise:

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”

Trump Files Ludicrous Lawsuit Against the Washington Post for Defaming His Truth Social Scam
Trump has no basis for this suit. For one thing, he is constantly claiming that his Pravda Social is a massive success, greatly eclipsing Twitter. Also, it’s hard to defame a business that began as a fraud and went downhill from there.

Trump’s Truth Social CEO Whines that Shareholders in His Alt-Twitter Scam Are Being Wiped Out
Nunes visited Newsmax to swing open his tear ducts with mournful moaning about the catastrophic business for which he is the chief executive.

Trump Made Less than $200 on Truth Social According to His FEC Financial Disclosure
As for Trump, he was reported to own 90% of TMTG, which earned him less than $200 according to his financial disclosure. That’s hardly representative of the huge success that Trump has claimed Truth Social to be.

Trump’s ‘Truth Social’ Faces Legal and Financial Turmoil Amid Disclosures of Russian Funding
The report notes that the sources of the funding include the off-shore Paxum Bank, based in the Caribbean island nation, Dominica. It is notorious for “providing banking services for the pornography and sex worker industries, which makes it higher risk of engaging in money laundering and other illicit financing.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

LOCK HIM UP: Trump’s TRUTH Social Scam is Being Criminally Investigated By a Federal Grand Jury
In addition to the Grand Jury proceedings, the SEC is investigating whether TMTG and DWAC executives improperly coordinated with each other and engaged in insider trading. They have also partnered with a Chinese firm with a dubious legal past.

As a bonus, it turns out that Trump bailed on his crooked company just weeks before subpoenas were served. He removed himself and Don Jr from the board of TMTG and is no longer named as the company’s chairman. What’s more, DWAC agreed to a settlement with the SEC that includes a finding that the company violated anti-fraud laws and will require them to pay an $18 million civil penalty when/if the deal closes. And signaling deeper problems with the SPAC’s finances, its auditor has resigned.

This is par for the course for Trump, whose businesses have a habit of failing after he and a few insiders enrich themselves before the predictable collapse. But anyone investing in a Trump enterprise shouldn’t complain when they go belly up. They should know by now that he is a scam artist who is focused solely on his welfare. And if they don’t see it, it’s because they don’t want to. That’s how cults work.

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Trump Made Less than $200 on Truth Social According to His FEC Financial Disclosure

Posted by on April 15, 2023 at 10:55 am. 2 Comments :

Two days after the January 6th insurrection that Donald Trump incited, Twitter permanently suspended his account “due to the risk of further incitement of violence.” Elon Musk later reinstated Trump, but he has not posted on Twitter since the suspension was lifted.

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Donald Trump Pacifier Fox

In the meantime, Trump launched Truth Social, a pitiful Twitter clone where he could mouth off interminably and unconstrained by facts or decency. Not surprisingly, it has become just another failure in the Trump stable of ego-driven business ventures. That, however, didn’t stop him and his minions from pretending that it was not only a success, but an Earth shattering advance in the evolution of the human race.

RELATED: Devin Nunes Exalts the Failing Truth Social as ‘The Most Important Creation in Trump’s Career’

In reality, Truth Social has been a fiasco on every level. It has lost money, failed to attract users, betrayed its promise of free speech, stiffed its vendors, and is mired in multiple legal quagmires. Currently Truth Social’s corporate holding company, Trump Media and Technology Group (TMTG), and Digital World Acquisition Corp (DWAC), the shell company created to take TMTG public, are being criminally investigated by a federal Grand Jury and the Securities and Exchange Commission. And DWAC’s stock has declined a whopping 87% in a little over a year.

RELATED: Trump’s ‘Truth Social’ Faces Legal and Financial Turmoil Amid Disclosures of Russian Funding

On Friday Trump finally filed his financial disclosure report to the Federal Election Commission – a month late after three extensions – and it contained some interesting details. Among them, Truth Social is valued at between $5 million and $25 million. Which is curious considering that DWAC has allegedly raised pledges of more than a billion dollars. However, none of that funding will go through if the deal to merge DWAC and TMTG fails to materialize, which looks doubtful.

As for Trump, he was reported to own 90% of TMTG, which earned him less than $200 according to his financial disclosure. That’s hardly representative of the huge success that Trump has claimed Truth Social to be. To the contrary, it’s evidence that the platform is an abysmal failure, despite Trump’s utterly dishonest cheerleading.

SEE THIS: Trump Posts Hysterical Lie that ‘Everyone is Watching’ His Failing Twitter Ripoff, Truth Social

The rest of Trump’s financial disclosure wasn’t much better. It revealed that his income was mostly generated from grifting operations such as his digital trading card NFTs, that earned him between $100,000 to $1 million. He also claimed to have more than $5 million in income from speaking engagements. And he reported royalties of between $100,000 and $1 million for his old book, “The Art of the Deal.” Although he also reported that most of his other books drew royalties of less than $200.

Perhaps most troubling is that he claimed to have received $5 million in royalties from a Saudi real estate company to build a Trump hotel, villa and golf course in Oman. Note that he is not the builder. These are just royalties for the use of his name, for a project that may never get off the ground. So what are the Saudis really paying him for?

What this financial statement reveals is something that longtime Trump watchers already know: He is a conman and a grifter and a failure who has never been the business genius he pretends to be. It also proves that he is nowhere close to being a billionaire, as he claims. But not to worry. His most ardent cult disciples will continue to believe that he’s the second coming of the messiah. Because that’s what cult disciples do. The rest of the nation – and the world – will see him for the fraud is, and has always been.

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Fox News Wonders What Horror Biden Is Up To By Communicating With Young People On Social Media

Posted by on April 12, 2023 at 3:38 pm. NO Comments :

The Biden administration is reported to be considering expanding its outreach to younger Americans by holding briefings for popular social media personalities, known as “influencers.” These briefings would be separate from those held in the White House Briefing Room for conventional media.

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Fox News, Joe Biden

Naturally, any new idea floated by President Biden or the Democratic Party is immediately pounced on by Fox News as something nefarious with an ulterior motive that Fox portrays as sinister. In this case, Fox News is very concerned that Biden is trying to communicate effectively with young people, Something that Fox News is particularly bad at.

RELATED: Fox News Says Biden is ‘Compromised’ Because He Revoked Trump’s Non-Existent Ban on TikTok

To counter this malicious method of messaging, Fox News anchor Martha MacCallum invited the Republican governor if Iowa, Kim Reynolds, to discuss the rumors. MacCallum is regarded by Fox to be one of their alleged “news” reporters. That has never been true, and she demonstrates why in this exchange with the Governor…

MacCallum: I think a lot of viewers, a lot of people, a lot of adults, don’t really understand the influence of TicTok. These folks on TikTok have huge followings. They tell people what they should eat, what they should buy, what they should wear, and more powerfully I think in the midterms, who they should vote for and what issues should be important to them regardless of any fact check going on what they’re saying. So how seriously do you take this is if the Biden team decides to really implement, use these people in 2024?
Reynolds: I think the hypocrisy that continues out of the Biden administration, and with Democrats across this country, is just ridiculous.

Let’s set aside Reynolds’ response that totally avoids the question in order to fling the word “hypocrisy” around without any relationship to the subject. MacCallum’s concerns about social media “influencers” sound awfully familiar. Can you think of any other media enterprise that tells people how they should eat, dress, and vote?

If you said “Fox News,” congratulations. You’re not brain dead. Fox News also has a huge following (although mostly seniors), and regularly complains about what they call “woke” companies that you should refrain from patronizing. For instance, you must not eat M&Ms, or drink Bud Light, or wear Nikes, or visit Disneyland. And they spend 90% of their airtime advising their glassy-eyed audience to vote only for certified conservative Republicans.

Fox also tells their viewers what issues are important, or by omission, which are not. Recently Fox News buried the story of the Texas judge who ruled against the FDA approval of the abortion pill. From April 7 through 10, Fox provided all of 27 minutes to the story, while MSNBC and CNN each had seven hours of reporting. Likewise, Fox News minimally reported on Supreme Court Justice Clarence Thomas accepting hundreds of thousands of dollars worth of undisclosed gifts from a right-wing billionaire.

RELATED: Fox News Blacks Out Story of Clarence Thomas Secretly Taking Luxury Gifts From GOP Billionaire

The reports that the Biden White House is planning on having dedicated briefings for social media influencers are greatly exaggerated. White House Press Secretary, Karine Jean-Pierre declined to confirm any such plans. But she did note that, informally, it’s “something that we do all the time, from the President on down, is talk to influencers and try to meet the American people where they are to reach them in a different way.” As examples, there were such briefings last year on the war in Ukraine, and on the Inflation Reduction Act.

There are good reasons to implement an outreach program that caters to social media. Studies show that “Nearly 40% of Gen Z prefers TikTok and Instagram over Google Search, according to Google’s own internal data.” And it makes sense to try to reach citizens where they actually are. And for younger citizens who are wary of mainstream media, that’s on platforms like TikTok. But, not surprisingly, that’s too difficult a concept for the fogies on Fox to grasp. So they condemn it. Even though Donald Trump has his own pitifully failing social media platform.

SEE THIS: Trump’s ‘Truth Social’ Faces Legal and Financial Turmoil Amid Disclosures of Russian Funding

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Trump’s ‘Truth Social’ Faces Legal and Financial Turmoil Amid Disclosures of Russian Funding

Posted by on March 17, 2023 at 11:59 am. 1 Comments :

Truth Social, the website that Donald Trump launched after Twitter suspended him “due to the risk of further incitement of violence,” has had a rocky existence from its inception. It’s first days were marked by technical failures and user frustration. And it was all downhill from there.

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This week it was revealed that Truth Social may have been the beneficiary of millions of dollars of investments from Russian sources who are connected to Vladimir Putin. The Guardian reports that…

“Federal prosecutors in New York involved in the criminal investigation into Donald Trump’s social media company last year started examining whether it violated money laundering statutes in connection with the acceptance of $8m with suspected Russian ties, according to sources familiar with the matter.” […]

“The expanded nature of the criminal investigation, which has not been previously reported, threatens to delay the completion of the merger between Trump Media and DWAC, which would provide the company and Truth Social with up to $1.3bn in capital, in addition to a stock market listing.”

The report notes that the sources of the funding include the off-shore Paxum Bank, based in the Caribbean island nation, Dominica. It is notorious for “providing banking services for the pornography and sex worker industries, which makes it higher risk of engaging in money laundering and other illicit financing.” These revelations compound both the financial and legal ordeals of Truth Social. It is already being investigated for various alleged corrupt activities.

RELATED: LOCK HIM UP: Trump’s TRUTH Social Scam is Being Criminally Investigated By a Federal Grand Jury

What’s more, the shell company that Trump planned to use to get Truth Social’s parent corporation, Trump Media and Technology Group (TMTG), on the stock market is itself being threatened with being delisted. Digital World Acquisition Corp (DWAC) recently received a notice from NASDAQ warning them of the pending action. It’s stock price has declined nearly 90%.

In advance of that, Trump, hoping to avoid personal liability, removed himself and Don Jr from the board of TMTG. However, if the DWAC deal doesn’t go through, Trump won’t be able to pocket the billions of dollars that have been raised by his criminal cronies.

Trump’s interest in Truth Social has always been focused more on enriching himself and getting retribution for having been banished from Twitter. It was a scam that never had any credible prospects for success. That was evident in Trump’s hiring of former congressman Devin Nunes to run the venture. Nunes had no experience whatsoever in media or technology, and it shows. But he was and is a devoted Trump-fluffer.

Truth Social’s business model is based on advertising. However, it has utterly failed to build a viable stream of ad revenue. According to an exhaustive study by the New York Times, the platform has only been able to attract interest from “hucksters and fringe marketers.” “Ads from major brands are nonexistent on the site,” the Times found, and that instead “the ads on Truth Social are for alternative medicine, diet pills, gun accessories and Trump-themed trinkets.”

SEE THIS: Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch

As an example of the bogus product pitches on Truth Social is an ad for a blatantly racist, and thoroughly worthless, Trump keepsake: A Trump-branded White Privilege Card:

UPDATE: In the midst of all this turmoil, DWAC has just fired their CEO, Patrick Orlando.

And that about sums up the decrepit state of affairs at Truth Social. For more on what is perhaps the biggest flop on Trump’s long resume of failures, see these related stories…

UPDATE: DWAC and the SEC have reportedly reached an agreement regarding the company’s merger deal with TMTG. According to CNN, “If it’s approved, the SEC will enter a cease-and-desist order with the company, finding DWAC violated ‘antifraud provisions’ connected to initial public offering filings. [and] If DWAC amends its IPO filings, it will have to pay the SEC an $18 million civil penalty after the closing of any merger deal.”

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