How would a US sovereign wealth fund even work?

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  Npr.

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  This is the Indicator from Planet Money.

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  I'm Paddy Hirsch.

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  And I'm Waylon Wong.

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  President Trump issued an executive order this week telling the treasury and Commerce Departments to produce a plan for,

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  wait for it, an American sovereign wealth fund.

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  Well, the reaction to this latest order ran the usual gamut from disbelief and derision through hilarity to rapture.

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  Depending on who you follow on social media,

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  an American sovereign wealth fund could be an end run around congressional roadblocks,

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  or maybe an opportunity for corruption and cronyism.

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  Could be a chance to create value and be of great strategic importance to the U.S.

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  but my personal favorite,

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  it's a shiny new toy for both parties to play with as they spend and splurge the US treasury into financial oblivion.

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  That's from the libertarian Mies Institute.

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  Spicy.

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  The fun could be used for all sorts of good things, Trump said.

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  Maybe even buying TikTok.

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  No wonder the announcement had the Internet foaming at the mouth

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  and searching for an explanation of what exactly a sovereign wealth fund is.

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  Fortunately, we already have a ready made explainer.

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