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| Name | Trump Could End Up Bankrupt Before 2024 Election |
| Video Uploader | Video From The Ring of Fire |
| Upload Date | This Video Uploaded At 26-01-2024 21:00:31 |
| Video Discription | Donald Trump is facing a barrage of upcoming court decisions that could leave him with almost nothing. Both the New York fraud trial and the second E. Jean Carroll defamation case could force Trump to pay out hundreds of millions of dollars - and court records indicate that he doesn't have that kind of cash readily available. If he can't pay the judgements, he could lose his entire real estate empire, and this would all be BEFORE the first criminal trial even begins. Ring of Fire's Farron Cousins explains what's at stake. Link - https://www.newsweek.com/donald-trump-e-jean-carroll-lawsuit-damages-bankrupt-case-1862244 Check out our merch by visiting our store: https://www.buyrof.com/ Subscribe to our podcast: http://www.ROFPodcast.com Become a member today!: https://www.youtube.com/channel/UCYWIEbibRcZav6xMLo9qWWw/join Support us by becoming a monthly patron on Patreon, and help keep progressive media alive!: https://www.patreon.com/TheRingofFire Spread the word! LIKE and SHARE this video or leave a comment to help direct attention to the stories that matter. And SUBSCRIBE to stay connected with Ring of Fire's video content! Support Ring of Fire by subscribing to our YouTube channel: https://www.youtube.com/theringoffire Be sociable! Follow us on: Facebook: http://www.facebook.com/RingofFireRadio Twitter: https://twitter.com/RingofFireMedia Instagram: https://www.instagram.com/ringoffirenetwork/ *This transcript was generated by a third-party transcription software company, so please excuse any typos. There is a very good chance, a strong probability that before we get to the actual voting of the 2024 election, Donald Trump could in fact be bankrupt. Now, I know you're saying, but he's a billionaire. How could this billionaire suddenly go bankrupt between now and November? Well, the answer to that's actually quite simple. Donald Trump already owes Eugene Carroll $5 million for the first defamation lawsuit. We're wrapping up the second defamation lawsuit where they're now seeking $10 million plus punitive damages. And based on the fact that Donald Trump has actually not stopped defaming Eugene Carroll since the trial began, I mean Thursday morning before he went to court, he fired off more than 30 angry posts on truth social about Eugene Carroll. And those are all like being brought up in court, by the way. So the jury knows all of this is happening, and even though they're sinking 10 million in compensatory damages, punitive damages according to legal experts could total into the nine figure realm. So nine figures do the math. That's more than $100 million. There's also the possibility, by the way, the lawyers have kind of hinted that there may be a third defamation trial because of some of the horrific things Donald Trump has said about Eugene Carroll since this trial began. So if the jury hits Donald Trump with punitive damages totalling in the hundreds of millions of dollars, obviously that's a big problem. Pardon me? Another problem Trump has, you know, people may have forgotten about it 'cause the Eugene Carroll trial's kind of taken up a lot of oxygen right now. Uh, but let's not forget that Judge Arthur Geron wants to give his decision in the New York Fraud trial before the end of the month. Well, that's just a couple of days away now, isn't it? So we could literally be looking at an Eron decision any minute now, and that one could be well over $300 million plus the disillusion of Donald Trump's businesses. So Donald Trump could be looking at anywhere between 300 and let's say maybe up to $500 million just from these two civil lawsuits. Trump, according to the best estimates out there, nobody knows for sure. So these are just estimates is worth about $2.6 billion. But let's not forget, and this was actually brought up in the New York Fraud trial, that doesn't mean that Donald Trump has a bank account with $2.6 billion in it. That's the total of all of his assets. So if he were to get hit between these two trials for 300 million, 400, 500 million, does he have that much money sitting in the bank right now? Well, the prosecutors in New York already told us, no, he doesn't. He doesn't have this kind of cash. Donald Trump is asset rich, but cash poor, meaning that that 2.6 billion or whatever his net worth may be, it's not because he is sitting on, you know, piles of cash or jumping into a coin vault like Scrooge McDuck. It means he owns a lot of property that's worth a lot of money. Therefore, in order to pay off these lawsuits, Donald Trump's only path forward may be to declare bankruptcy. Now, that's not gonna protect him from having to pay. What's likely going to happen is that the courts would take over his properties, sell them in a bit of what's called a fire sale, just to get rid of 'em, to get the cash immediately, and Trump would be left with nothing. That net worth would no longer be considered in the billions. It may not even be considered in the millions.. |
| Category | News & Politics |
| Tags | the ring of fire | progressive news | trofire | politics | the young turks | tyt | politics today | us news | breaking news | rof |
