The Powers That Be: Daily
Inauguration Kremlinology & Trump’s Crypto Grift
Jan 21, 2025
Bill Cohan, a seasoned financial journalist and author, joins to dissect the controversial launch of meme coins by Donald and Melania Trump coinciding with his inauguration. They uncover the ethical dilemmas of crony capitalism and the precarious nature of speculative investments. The duo also sheds light on the power dynamics at play with tech billionaires attending the inauguration, questioning their motives and the implications for American values. Cohan’s keen insights navigate the murky waters of crypto and political influence.
25:37
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Quick takeaways
- The launch of meme coins by the Trump family represents a troubling blend of political power and personal profit, highlighting crony capitalism.
- The presence of influential billionaires at Trump's inauguration underscores the concerning intertwining of corporate interests with political power, undermining democratic integrity.
Deep dives
Meme Coins and Greed
Donald and Melania Trump's launch of meme coins around the time of the inauguration generated significant attention and controversy, with the Trump meme coin reportedly reaching a market value of over $10 billion. This situation illustrates a new form of crony capitalism where political power is leveraged for personal profit. The discussion highlights the superficial nature of these cryptocurrencies, often labeled as 'shit coins' or 'fart coins', and critiques the lack of substance behind them, equating them to previous dubious Trump ventures like Trump University and Trump stakes. The panel emphasizes concerns about the rampant greed fueling these developments and questions the motivations behind such actions.
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