Letitia James filed a ‘notice of exception to the sufficiency of the surety’ seeking more information about Knight Specialty Insurance Company
Donald Trump’s $175m bond in his New York civil fraud case has been thrown into doubt by New York Attorney General Letitia James after she filed a notice asking for evidence that the out-of-state firm that underwrote it really has the money to pay up.
Ms James’s office submitted a “notice of exception to the sufficiency of the surety” on Thursday asking for further proof that California-based Knight Specialty Insurance Company (KSIC) has the capital to proceed on the former president’s behalf.
KSIC is not regulated by New York state, which means that it is not authorised to issue surety bonds in the Empire State and therefore cannot obtain a certificate from the New York Department of Financial Services, which is customarily part of any bond package.
And you know he’d stiff the dump truck drivers who had to deliver them.
Anyone want to do the math on how many dump trucks it would take to deliver $175m worth of pennies?
Huh. Well I was thinking he’d be hard pressed to actually find that many; but uh, there’s thought to be 200 billion in circulation .
So he’d need 17.5 billion pennies. (+interest. I don’t want to figure that out.)
A single roll is 50x2.5 grams, or 125 grams.
If my pre caffinated math is correct, that comes out to 2.18 billion kilograms. Class 8 dump trucks (like for hauling dirt,) can handle 6.3k kilos to 11k.
Rounding to 6k and 11k, fyi….
Assuming they all fit… a dump truck could handle between 50 thousand and 88 thousand rolls each trip. Or 25k to 44k dollars in pennies.
It would take between 43,600 and 24,773 trips, using a class 8 dump truck.
All bets are off if you’re talking about the typical armored truck hauls.
Quick googling it would take about 13 trucks
49152 pennies in a sqft and a dump truck is around 270 sqft
Can your dump truck handle 33k kilos the class 8 I was looking at, says 11k max
Even then, rounding to 50k in pennies is only 500 dollars per square foot. At 270 sqft, that’s only 135k dollars per truck.
At 175 million, it’d take 1.3k trips.
Awesome. Thanks! That’s…actually less trucks than I pictured in my head. I was thinking more like 20-30.
So he either stiffs 13 truck drivers or one driver 13 times. lol
Did you account for the inefficiency caused by the gaps between the pennies? It’s not insignificant, the difference is between pennies and molten metal.
Lots of types of dump trucks, but I took the “14 tons” number from here.
https://www.lynchtruckcenter.com/manufacturer-information-how-much-can-a-dump-truck-carry.html
Penny weights about 2.5 grams. 14 tons is about 12,700 kg (could have probably called it 14 metric tons, but let’s be more accurate since we’re being weird about it in the first place.)
12,700,000g/2.5 = 5,080,000 ~= $50,000 per dump truck = 3,500 loads of pennys.
Feels like a lot of loads of dump trucks. Might have moved a decimal point somewhere along the way.
Also, they will be pesos instead of pennies.
Or rubles.
That’s what I get for cracking jokes before my coffee!