Bulwark Takes: Trump Put His Bribes on a Leaderboard! Release Date: April 24, 2025
In this episode of Bulwark Takes, hosts Tim Miller and Andrew Egger delve into what they describe as “the most ostentatious, absurd scam in the history of the presidency”—Donald Trump’s latest venture involving a Meme Coin and a high-stakes leaderboard invitation system.
Introduction to the Trump Meme Coin Scheme
Tim Miller opens the discussion by characterizing Trump’s new financial maneuver as unprecedented in its blatant self-enrichment efforts. He introduces the topic with a sense of disbelief:
“[01:14] Tim Miller: ...the most ostentatious, absurd scam in the history of the presidency happening right now under our nose with the Trump Meme coin.”
Andrew Egger elaborates, emphasizing the direct impact on the political landscape and the mockery of corruption laws:
“[01:44] Andrew Egger: ...Trump like nakedly enriching himself at the expense of the entire body politic... making a mockery of all the corruption laws.”
Mechanics of the Meme Coin and the Exclusive Dinner Invitation
The heart of the scam revolves around the creation and promotion of a Trump-branded Meme Coin. Egger explains the initiative:
“[01:44] Andrew Egger: ...he rolled out this Meme Coin, you know, ages ago, right before he became president... They've launched ‘Dinner with President Trump,’ the most exclusive invitation in the world.”
Participants holding the top 220 positions of the Meme Coin are promised an invitation to a gala dinner with Trump on May 22. This leaderboard system incentivizes the accumulation and retention of the coin, artificially inflating its value.
“[01:44] Andrew Egger: ...the top 220 holders of the Meme Coin are going to get to sit down in May, May 22, and have an unforgettable gala dinner with the President.”
Price Manipulation and Trump's Holdings
Tim Miller notes the immediate financial consequences of this scheme, particularly the sharp increase in the coin’s value following the announcement:
“[03:08] Tim Miller: Wasn't even a hockey stick.”
The Meme Coin saw a staggering 49% price surge, primarily fueled by Trump’s significant holdings. This artificial inflation benefits Trump directly, funneling substantial funds into his pockets without clear transparency.
“[03:10] Andrew Egger: ...Trump owns a bunch of this stuff. It's a bunch of free money directly in his pocket from God knows who.”
Historical Comparisons to Political Scandals
The hosts draw parallels between Trump’s current scheme and past political scandals, notably the resignation of Vice President Spiro Agnew due to corrupt practices:
“[03:28] Tim Miller: ...Spiro Agnew resigned over this... What we have here is... people just are going to go to a fancy dinner where they just pay their offerings to the president.”
Egger contrasts Trump’s blatant approach with previous leaders who attempted to obscure their misconduct:
“[10:09] Andrew Egger: ...there is a top 20... the website... it's all just so unbelievably.”
Regulatory Environment and Potential Implications
The discussion turns to the regulatory challenges posed by this scheme. Tim Miller highlights how current regulations inadequately address such blatant scams:
“[06:38] Tim Miller: People should go watch if they missed it. Molly White... there's a freeze period... Also... Trump and Melania have already taken out millions from their wallets.”
Egger adds that the transparent nature of the leaderboard bypasses traditional methods of financial deception, making it easier for Trump to benefit without immediate repercussions:
“[09:13] Tim Miller: ...Trump is just like, no, fuck it, we're just gonna put out a leaderboard...”
Transparency and Public Perception
A significant aspect of the scam is its overt transparency. Unlike previous scandals shrouded in secrecy, this Meme Coin initiative lays everything bare, challenging public perception and regulatory frameworks.
“[10:09] Andrew Egger: ...it's just all out there in the open. And anytime anybody wants to talk about it, the line is just like, well, of course that's what the lying media would have you believe...”
The hosts question the effectiveness of ethics councils and regulatory bodies in curbing such blatant financial maneuvers orchestrated by high-profile figures.
“[11:08] Tim Miller: ...MAGA ethics officials... any ethics policy councils...”
Conclusion: The Broader Impact on Politics and Cryptocurrency
Bulwark Takes concludes with a reflection on the broader implications of Trump’s Meme Coin scheme. The hosts suggest that this could set a precedent for future political figures exploiting cryptocurrency for personal gain, potentially undermining both political integrity and the credibility of digital currencies.
Tim Miller encapsulates the issue:
“[12:26] Andrew Egger: ...When you're a star, they let you do it.”
This episode underscores the intersection of politics and cryptocurrency, highlighting the need for more robust regulations to prevent such blatant self-enrichment schemes in the future.
Notable Quotes:
- Tim Miller at [01:14]: “the most ostentatious, absurd scam in the history of the presidency”
- Andrew Egger at [01:44]: “Trump like nakedly enriching himself at the expense of the entire body politic”
- Tim Miller at [03:08]: “Wasn't even a hockey stick.”
- Andrew Egger at [03:10]: “It's a bunch of free money directly in his pocket from God knows who.”
- Tim Miller at [03:28]: “...Spiro Agnew resigned over this...”
- Andrew Egger at [09:13]: “...it's just all out there in the open...”
- Tim Miller at [12:26]: “When you're a star, they let you do it.”
This episode provides a critical examination of the convergence between political power and cryptocurrency, raising important questions about accountability and the future of digital financial instruments in the political arena.