Veteran Democratic political strategist James Carville went off Tuesday on the investors who reportedly lost billions buying $TRUMP memecoin, calling their financial decision “stupid.”
“You don’t need the money,” Carville said in a video for Politicon. “You don’t know how to handle it. You’re too stupid, and you know, if you’re one of these people that believes in, you pass certain characteristics down, maybe your heirs don’t need this money, ’cause they might be just as goddamn stupid as you.”
A report from The New York Times found that nearly 1 million people who bought President Donald Trump’s memecoin lost money. The Times cited a report by cryptocurrency analytics firm Nansen, which found that their losses totaled $3.81 billion.
This comes shortly after the president’s annual financial disclosure revealed he earned $635,068,835 from a license agreement with CIC Digital LLC, the entity that marketed his $TRUMP.
Carville said the “hardworking people” who lost money with Trump’s memecoin might be a good thing, jokingly claiming it’s “Darwinism, survival of the fittest.”
“There’s a certain theory called economic Darwinism, and maybe the heirs of stupid shits would be better off just not having that money,” Carville said. “And don’t worry, Trump steal it, give it, take it for himself.”
He went on to say, “The fact that these people have thrown all their money away and don’t have any to spend or give to heirs, is, I think, a good thing for America.”
“They’re just some people are too fucking stupid to have money. And thank God a lot of you have found it away, and maybe the next generation that follows you will see the light. I certainly hope so,” Carville said. “There’s some kind of economic Darwinism that has to be in effect here, but if you gave that guy money, I’m sorry, I can’t stop laughing at you.”