Earlier in the week Palmer Report assembled a lengthy report detailing Donald Trump’s various mountains of foreign debt and documenting his recent actions which suggest he’s so flat broke that he’s literally doing business $525 at a time. Now the Wall Street Journal is reporting on yet another mountain of debt for Trump, this time owned by American companies – and it’s so large that the debt is collectively owned by a hundred and fifty different companies.
The WSJ is reporting that Donald Trump has become so deeply underwater that more than a billion dollars of his debt has been “repackaged as bonds” and sold off piecemeal to various American companies including financial institutions Vanguard and Wells Fargo. This is crucial because Trump is about to become the overseer of the federal agencies that are investigating Wells Fargo for fraud, at a time when the company literally owns him. And this is yet more evidence pointing to Trump having a negative net worth – and therefore not being a billionaire or even millionaire.
When you add the billion in debt uncovered by the WSJ to the nearly one billion dollars he owes a Chinese government controlled bank which we’ve previously reported, along with the hundreds of millions he owes to German banks and the unknown but almost certainly massive sum he owes to Russian government-controlled banks, it stands to reason that his roughly $4 billion in assets are more than canceled out in debt. No wonder he’s been acting like he’s broke.
Bill Palmer is the publisher of the political news outlet Palmer Report