The Guardian view on Trump’s conflicts of interest: the shadow of kleptocracy | Editorial
By: the guardian|2025/05/15 02:30:06
0
Share
D onald Trump’s tour of Gulf nations this week is notionally state business. The president has discussed trade, investment and defence. But the boundary between statecraft and self-aggrandisement is blurred. To honour the US president, the government of Qatar has offered him a Boeing 747 aircraft. This “ flying palace ”, worth around $400m, would serve as a substitute for Air Force One as Mr Trump’s personal jumbo. The US constitution explicitly forbids anyone holding a government office from accepting any “present, emolument, office or title” from foreign powers without congressional consent. White House lawyers, obedient to their master, say the Qatari jet doesn’t cross that line. Accepting gifts from foreign regimes is not the worst constitutional violation committed by the Trump administration . The contempt for due process and rule of law in cases where innocent Americans have been abducted and deported for unproven and spurious immigration offences is more alarming. But corrosion of civil rights and flouting rules of financial propriety are symptoms of the same condition. Mr Trump doesn’t believe in submission to rules of any kind. He recognises no distinction between business conducted in the White House and deals done at Mar-a-Lago. On the eve of his inauguration, Mr Trump launched a crypto asset, $TRUMP, literally monetising the presidency. Last month, it was announced that the top 220 holders of the coin would be invited to dinner with the president. Previous occupants of the Oval Office sold investments or set them aside in blind trusts. Mr Trump’s business empire, managed by his sons, operates as before, except with the added commercial privileges that accrue to association with the most powerful man on Earth. Jared Kushner , his son-in-law, runs a private equity company that mostly deals with the state-backed investment funds of Gulf states that Mr Trump is visiting this week. The conflicts of interest are so densely woven that it is difficult to separate the presidency from the commercial ambitions of the presidential entourage. That is a defining feature of state capture in regimes that lack democratic safeguards and where law enforcement is incapable of policing corruption. It is an affront to the principle that public office should be sought with a view to advancing public interest, not exploited for personal enrichment. It is the mark of a kleptocracy. That is not incompatible with the more ideological side of Mr Trump’s project – the promise to make America great again. The president sees himself as a champion of the American people – an incarnation of a national will – so his soaring wealth is synonymous with collective greatness. But if ordinary Americans do not feel themselves enriched , they will turn resentful, perhaps wanting regime change, at which point the president may feel threatened by democracy and seek to disarm it. This is the cycle of authoritarianism permitting corruption, which in turn feeds more authoritarianism. Plenty of dysfunctional states have exhibited this pattern before, but rarely has it been displayed on a scale and a stage as vast as those available to a US president.
You may also like

In the name of charity, for the benefit of the family: How the Trump family turned charity into profit?
This set of "beautiful rhetoric and value return to one's own people" has not stopped at charitable foundations; it has now almost been transferred intact to American Bitcoin.

Will Gold Break $4,500 After Tonight's Fed Decision? What XAUT and PAXG Traders Need to Know
The Federal Reserve announces its June rate decision tonight. Could gold break $4,500 next? Explore the latest gold price prediction, key Fed scenarios, and what they mean for XAUT and PAXG traders.

Cursor, why did you get on Musk's spaceship?
SpaceX set a record with its IPO, spending a staggering $60 billion to acquire the popular AI programming unicorn Cursor just four days later. Musk is using the ultimate puzzle of "super computing power + top coding engine" to propel the market value skyrocketing, surpassing Amazon in one fell swoop...

Morning Report | DeepSeek completes over $7 billion in financing, with a valuation exceeding $50 billion; Musk's personal wealth has surpassed the total market value of Bitcoin
Overview of Important Market Events on June 16

SharpLink CEO: How to understand that Ethereum developers have just surpassed 1 million?
The most important question in the cryptocurrency industry is not which chain is the fastest, but rather where top builders choose to build in the long term. Ethereum has just surpassed one million cumulative developers; what does this number mean?

Morning Report | MiCA grace period expires on July 1; Kalshi's trading volume in the first week of the World Cup breaks $5.1 billion, setting a record
Overview of Important Market Events on June 15

The foundation of SpaceX's trillion-dollar valuation: Who is dividing Musk's annual capital expenditure of tens of billions?
SpaceX Supply Chain Revealed: The Invisible Gold Mine Behind the Trillion-Dollar "Space Dream," from Nvidia's Computing Power Monopoly to China's Sole Supplier of Special Materials, these overlooked water-selling talents are the true wealth creation engine.

How to exit after asset tokenization?
Currently, three models have emerged, aimed at providing instant exit routes for tokenized real-world assets. Their differences lie in: who holds the funds required for exit, how efficiently the funds operate, and the extent to which this model can be scaled across different asset types.

The stablecoin positioning battle escalates: When compliance is just a ticket to entry, will USD1 become the biggest winner?
How does the GENIUS Act reshape the stablecoin landscape?

A16Z: The sun bears witness, SpaceX is worth 7.5 trillion
A deep analysis of Musk's ultimate grand vision: how SpaceX, xAI, and Tesla are deeply intertwined, using space AI data centers and Starships to gradually turn the sci-fi fantasies of Mars colonization and multi-planetary civilization into reality.

Mergers and acquisitions in the cryptocurrency market are exceptionally active
Behind the rise in mergers and acquisitions is a sluggish financing market, declining project valuations, and increased pressure for startup teams to exit. However, it also indicates that the cryptocurrency industry has not lost its capital vitality, but is completing resource reorganization in anot...

Concerns Behind the Binance Customer Service Controversy
As the user base expands to the scale of Binance today, relying on the personal efforts of the founder and a few employees to fill process gaps has become an unsustainable arrangement.

SpaceX Stock Prediction After the IPO: Can SPCX Reach $200 Before QQQ Inclusion?
SpaceX stock has become one of the hottest trades of 2026. Can SPCX reach $200 before QQQ inclusion? Discover the latest SpaceX stock prediction, analyst targets, Bitcoin exposure, and the key catalysts that could move SpaceX stock after its historic IPO.

Congratulations to Carl Moon on His Historic Ferrari Challenge Le Mans Podium Triumph
Crypto influencer and racing enthusiast Carl Moon finished third in the Ferrari Challenge Le Mans Coppa Shell class, marking his best result of the year. As his racing partner and sponsor, WEEX celebrates this remarkable achievement and continues to lead crypto’s journey beyond boundaries, uniting the innovation of digital assets with the passion of motorsport.

Can the CLARITY Act Become Law by July 4? Everything You Need to Know About the Final Battle
The CLARITY Act has cleared a major Senate hurdle, but the hardest battle is still ahead. With the July 4 deadline approaching, can the White House finally pass its biggest crypto regulation bill? Find the clues in our exclusive analysis below.

France vs Senegal World Cup 2026: Mbappe’s New Era Begins Against a Historic Rival
France vs Senegal World Cup 2026 preview: Can Mbappe lead France past Senegal after the shocking 2002 World Cup defeat? Full team news, predicted lineups, key battles, and WEEX's exclusive match prediction.

What is the connection between Huang Zheng of Pinduoduo and blockchain?
From Pinduoduo's "reverse insurance" to blockchain's smart contracts, this article explains how Huang Zheng's underlying logic uses "certainty" rules to reshape the flow of wealth for ordinary people.

Morning Report | Prediction market platforms like Kalshi and Polymarket jointly sue Kentucky over 14.25% trading tax; Bridgewater founder discusses decision-making in the AI era: principled thinking should run parallel to AI, human insight remains irre...
Overview of Important Market Events on June 15
In the name of charity, for the benefit of the family: How the Trump family turned charity into profit?
This set of "beautiful rhetoric and value return to one's own people" has not stopped at charitable foundations; it has now almost been transferred intact to American Bitcoin.
Will Gold Break $4,500 After Tonight's Fed Decision? What XAUT and PAXG Traders Need to Know
The Federal Reserve announces its June rate decision tonight. Could gold break $4,500 next? Explore the latest gold price prediction, key Fed scenarios, and what they mean for XAUT and PAXG traders.
Cursor, why did you get on Musk's spaceship?
SpaceX set a record with its IPO, spending a staggering $60 billion to acquire the popular AI programming unicorn Cursor just four days later. Musk is using the ultimate puzzle of "super computing power + top coding engine" to propel the market value skyrocketing, surpassing Amazon in one fell swoop...
Morning Report | DeepSeek completes over $7 billion in financing, with a valuation exceeding $50 billion; Musk's personal wealth has surpassed the total market value of Bitcoin
Overview of Important Market Events on June 16
SharpLink CEO: How to understand that Ethereum developers have just surpassed 1 million?
The most important question in the cryptocurrency industry is not which chain is the fastest, but rather where top builders choose to build in the long term. Ethereum has just surpassed one million cumulative developers; what does this number mean?
Morning Report | MiCA grace period expires on July 1; Kalshi's trading volume in the first week of the World Cup breaks $5.1 billion, setting a record
Overview of Important Market Events on June 15
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com
