The political calculation is exquisite; this executive order was deliberately issued on the eve of the Federal Reserve's interest rate meeting. Now Powell is being grilled—he has to deal with Trump's demand for a "500 basis point rate cut" while also managing the ensuing collapse of the dollar. Goldman Sachs' internal models indicate that the new policy could lead to $2.3 trillion in capital fleeing the bond market, with one-third frantically pouring into Bitcoin ETFs. But the real drama is on Capitol Hill, where Democratic lawmakers have suddenly turned to support crypto regulation because their donors discovered that the new tax law allows for anonymous political donations using cryptocurrency.