Trump Top Advisor Busted Betting Against Own Deals

Summary

Legal AF by MeidasTouch: "Trump Top Advisor Busted Betting Against Own Deals"
Episode Release Date: July 23, 2025

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Introduction

In this compelling episode of Legal AF, hosted by Michael Popok of the MeidasTouch Network, the spotlight is turned towards a startling revelation involving Howard Lutnick, the current Commerce Secretary and former head of Cantor Fitzgerald. The episode delves deep into the allegations that Lutnick's firm is covertly betting against the very tariffs he fervently supports, raising questions about integrity, conflict of interest, and the broader implications for American businesses and consumers.

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Cantor Fitzgerald's Contradictory Actions

Michael Popok kickstarts the discussion by unveiling the intricate web of financial maneuvers undertaken by Cantor Fitzgerald, a firm with over three decades of influence in the financial sector. Popok emphasizes the irony and potential conflict of interest in Howard Lutnick's role as Commerce Secretary while his former company, now overseen by Lutnick's sons, is actively betting against Trump's tariff policies.

[00:28] Michael Popok:
"The smart money move is to bet against Donald Trump's tariffs... I didn't expect the major Wall Street firm, formerly owned and now currently owned by the Commerce Secretary's sons, to make that bet."

Popok elaborates on how Cantor Fitzgerald & Co., under the leadership of Lutnick's sons, is facilitating businesses to sell their overpaid tariffs at discounted rates, essentially profiting if the tariffs are overturned in court. He outlines a hypothetical scenario illustrating how the firm stands to gain exponentially by buying overpaid tariffs cheaply and reclaiming the full amounts should the tariffs fail.

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Conflict of Interest and Ethical Concerns

The episode scrutinizes the ethical boundaries blurred by Cantor Fitzgerald's actions. Popok questions the integrity of Lutnick and his firm, highlighting the contradictions between Lutnick's public support for tariffs and his company's financial strategies that bet against them.

[05:49] Michael Popok:
"Howard Lutnick brags in the same interview... while Cantor Fitzgerald is betting against tariffs. What does that say about the integrity and the values?"

Popok further draws connections between Cantor Fitzgerald's ventures into the cryptocurrency market and Lutnick's ties to Tether Stablecoin, suggesting a broader pattern of profiteering from governmental policies and economic strategies that may not align with the public interest.

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Howard Lutnick's Public Stance on Tariffs

A news clip featuring Howard Lutnick is analyzed to contrast his public assurances with his firm's clandestine activities. In the clip, Lutnick is seen confidently advocating for tariffs as a solution to the trade deficit, projecting optimism about their impact on the American economy.

[06:15] Howard Lutnick:
"They're going to love the deals that President Trump and I are doing... the next two weeks are going to be weeks for the record books."

However, Popok juxtaposes this with Lutnick's personal indulgences and disconnectedness from the economic struggles faced by ordinary Americans, painting a picture of a leadership group out of touch with the populace.

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Public Perception and Economic Impact

The podcast highlights poll data indicating widespread American dissatisfaction with the administration's tariff policies:

• 61% believe the administration is overly focused on tariffs.
• 70% feel the administration isn't doing enough to lower prices.
• 60% oppose new tariffs on imported goods.

Popok argues that these policies are exacerbating economic hardships for Americans while benefiting elite financial interests.

[06:54] Michael Popak:
"Support for today's episode comes from Square... But I see it every week at my favorite coffee spot in Coral Gables... We're making money hand over fist."

He underscores the disconnect between the administration's policies and their real-world impacts, emphasizing that while business elites profit, the average American faces rising costs and economic instability.

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Critique of Administration's Economic Policies

Popok criticizes the administration's reliance on tariffs and Howard Lutnick's role in perpetuating these economically detrimental policies. He questions the administration's commitment to its own policies, citing Cantor Fitzgerald's actions as evidence of internal dissent and lack of belief in the tariffs' efficacy.

[10:19] Michael Popak:
"This shows that even the administration doesn't believe in its own policies. It doesn't believe in its own tariffs."

He further lambastes Lutnick's perceived indifference to the struggles of everyday Americans, highlighting incidents such as Lutnick's boasting about low inflation despite evidence to the contrary and his lavish lifestyle, which seems out of step with the economic realities faced by the majority.

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Conclusion and Forward Look

As the episode wraps up, Michael Popok asserts that the Measures Touch Network will continue to monitor and expose such conflicts of interest and policy failures. He invites listeners to engage with their content through various platforms, including their YouTube channel and Substack, to stay informed and support independent media voices.

[11:01] Michael Popak:
"We’re going to continue to follow this story... Independent commentary and media that's out there with their brass need your support."

Popok leaves the audience with a compelling call to action, urging them to critically assess the actions of their leaders and support media outlets that hold power to account.

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Key Takeaways

• Conflict of Interest: Howard Lutnick’s firm, Cantor Fitzgerald, is allegedly betting against the tariffs he publicly supports, raising significant ethical concerns.
• Economic Impact: Tariffs are unpopular among Americans, with a majority opposing them due to rising prices and economic uncertainty.
• Leadership Disconnect: Lutnick and other administration figures appear disconnected from the economic struggles of the general populace, focusing instead on profitable ventures.
• Media Accountability: The episode underscores the importance of independent media in uncovering and analyzing such conflicts and policy discrepancies.

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Notable Quotes

• Michael Popok on Bet Against Tariffs:
  “Bet against it, hedge it. Bet that it’s going to fail.”
  [00:28]

• Howard Lutnick on Tariff Success:
  “They’re going to love the deals that President Trump and I are doing... President Trump is going to deliver for the American people.”
  [06:15]

• Michael Popok on Inflation Critique:
  “Howard Lutnick brags in the same interview. He brags about how low inflation is and that we're enjoying historically low inflation...”
  [05:49]

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Final Thoughts

This episode of Legal AF offers a scathing critique of the intersection between corporate interests and governmental policies, personified by Howard Lutnick's dual roles. Through incisive analysis and compelling evidence, Michael Popok calls into question the integrity of leadership and the true beneficiaries of economic policies that appear detrimental to the American public.

For listeners seeking an in-depth understanding of the complexities at the nexus of law, politics, and economics, this episode provides a thought-provoking examination of contemporary issues that continue to shape the American landscape.

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Legal AF is executive produced by Meidas Media Network. To stay updated, subscribe to the Legal AF YouTube channel and follow the podcast on the Midas Touch Network. For detailed analyses and additional content, visit the Legal AF Substack.

Transcript

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[Michael Popak]

Well, the smart money move is to bet against Donald Trump's tariffs and to bet that in the near future another court like the Court of International Trade, maybe the United States Supreme Court, is going to find that Donald Trump improperly exercised economic emergency powers that he doesn't have to impose tariffs on 120 or 130 countries. That's the smart move. Bet against it, hedge it. Bet that it's going to fail. I just didn't expect the major Wall street bank and firm, formerly owned and now currently owned by the commerce secretary sons to make that bet, to offer to its customers that they should bet against the Trump administration when the daddy ambassador is out there selling and shilling tariffs. I don't think the son should be running a company to try to benefit on their failing. You heard me right, everybody. You're on the Midas Touch Network and on legal AF Cantor Fitzgerald, which for over 30 years was run by Howard Lutnick, your commerce Secretary. His sons who are under 30 years old, who now run the company since he quote, unquote turned it over to them. They are offering as part of their investment bank to buy your overpayment for tariffs if you're a company and they'll give you cents on the dollar hoping that the tariffs fail in the courthouse. I'm Michael Popak. I'm going to break it all down for you right here on the Midas Touch Network. As a lot of people know, I worked at Canter Fitzgerald at one time. I have no insider knowledge. This is just my observations of what is happening. It's very simple. Howard Lutnick is on network television, financial services television, Bloomberg, msnbc, anybody that'll have them twice on Sunday to pump up the tariffs. He's he brags that we're going to love the American people are going to love this deal. They're going to love this two weeks, this next two weeks going to be historic. They're going to love all the deals that I'm making, except Cantor Fitzgerald announced and confirmed as Wired and other news agencies reported that they've set up a business within their CF&CO. Canor Fitzgerald & Co. Run by a few investment bankers, you know, that work under the Suns to sell a product. And the product is bring us your overpaid tariffs. Let's say I'm a company. Let's just do the scenario. I'm a company. I have to pay on these new tariffs illegally imposed by Donald Trump an extra, let's fill in the Gap. $10 million. So I pay 10 million more than I think I have to. And if those tariffs fail, I'll get a refund for 10 million. But I sell my claim and my AB to get a refund to Kanter Fitzgerald, Howard Lutnick's old company, and they buy it for $2 million. Who, how does Caner Fitzgerald make money? Because when those tariffs fail, they'll go and collect the full 10 million. And they've. They only paid 2 million for it. So they made $8 million. And they claim they're going to do this hundreds of millions of dollars worth of times. What does that say about the integrity and the values, not the least of which the optics of the Commerce Secretary's own company figuring out a way to make money off the failure of the tariffs that he promotes. I mean, I have to take a pause there. It's so mind numbingly stupid. There are so many businesses that his former company, Cantor Fitzgerald, could be involved with and are involved with. They're making money hand over fist in cryptocurrency. Do you ever wonder why this administration is the king of crypto and Donald Trump is so heavily invested in crypto and so heavily invested in, in, in coming up with ways to expand the market. Because he owns billions of dollars of cryptocurrency assets. The president does. And those around him do, too. Howard Lutnick's company is tied to a company, no pun intended, called Tether stablecoin. And they're buying and selling and doing business and wraparounds and products around cryptocurrency like, like there's no tomorrow. And they're making money hand over fist. According to their own postings on news releases on Canter Fitzgerald's website, they've increased their revenue by about 50% since Howard Lutnick's been in office. Now, they all claim that Howard Lutnick is ethical and that it's not that they're getting any inside Information. They just know how, how Trump works and how Howard works and how Musk's work. And so they're lapping the field. What does that sound like to you? But here. But there's so many different businesses to grift and make money on. Off the back of Daddy Warbuck. Sorry, Daddy. Lutnick, being in the administration at the Commerce Secretary level, do you have to open up a business to bet against Donald Trump and that bet that he fails? I mean, if I were Trump, I'd call Lutnick in and say, what is going on with your former company and why are they betting against tariffs while you're the primary disciple of tariffs on television? Here's Lutnick about tariffs.

[News Anchor]

Well, you heard in our polling some of the perceptions of the economy. 61% of Americans believe the administration's putting too much focus on tariffs. 70% say the administration's not doing enough to lower prices. And 60% oppose new tariffs on imported goods. This is a centerpiece to your policy plan. How do you reverse public opposition?

[Howard Lutnick]

Oh, they're going to love the deals that President Trump and I are doing. I mean, they're just going to love them. You know, the president figured out the right answer and sent letters to these countries, said, this is going to fix the trade deficit. This will go a long way to fixing the trade deficit. And that's gotten these countries to the table. And they're going to open their markets or they're going to pay the tariff. And if they open their markets, the opportunity for Americans to export, to grow their business, farmers, ranchers, fishermen. This is going to be the next two weeks are going to be weeks for the record books. President Trump is going to deliver for the American people.

[Michael Popak]

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[News Anchor]

I was asking about consumer prices, what people will pay when they go to the store. But in. Since you don't want to be low.

[Howard Lutnick]

I think they'll be low, Shockingly low.

[News Anchor]

Okay. The consumer price index doesn't, doesn't currently reflect that, though, that the trend is towards higher.

[Howard Lutnick]

Well, it just went up. Would it go up a tenth of a percent? Look, the dollar has declined on the core more than 10%. Right? So the dollar declining sort of softens tariffs completely. These are small numbers you're going to see. Inflation is not change. Remember, inflation is an expectation of rates continuing to grow. Tariffs are just going to reset the price level for imports, for certain imports from certain countries.

[Michael Popak]

And at the same time, while you and I are suffering, his Marie Antoinette moment as the Commerce Secretary, similar to always, similar to Donald Trump, is the let him eat, let them eat cake moment. You know, the, the, the people here, the citizens are starving. They don't have bread. Well, let them eat cake. Is. Is Howard Lutnick laughing about a $1200 bottle of tequila that he was gifted. Let's run that clip.

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[Howard Lutnick]

This is cool.

[Michael Popak]

How about that?

[Howard Lutnick]

That's amazing. And I love ext.

[Michael Popak]

So somebody's got a lot of explaining to do. The next time he's on some sort of network television show and I invite him to come on Legal af. Want to come on and have a conversation. Come on and have a conversation next time. I doubt you'll take that offer. The next time you're on some sort of softball network show, I want one of them to ask him, do you think it's appropriate for your company, your former company, Cantor Fitzgerald, to be betting against Trump's tariffs policy while you're out selling them? So we're going to continue to follow this story. Just shows you that even the administration doesn't believe in its own policies. It doesn't believe in its own tariffs, and it certainly has ignored and willfully blinded the suffering of Americans as a result. The polling says the Americans hate tariffs. They hate what it's doing to their economy. All of them think the economic policies of Donald Trump are going to make their life worse. Worse. I'm talking 60 and 70% in polling data, including in red states. Certainly in red states. And yet the administration, Blithe Lee goes on, you know, just the grand destroyer, destroying everything in its wake. Under. Under the rubric of Trump's a non traditional president that likes to get involved in a lot of different things. Yeah. Why doesn't he just, instead of getting involved with a lot of different things. I like the naming of the stadium and the team name for the Washington Commanders. Why doesn't he do his day job and focus on making Americans better off? We'll continue to hold his feet to the fire here on the Midas Dutch network and on Legal af. Come on over. Hit the free subscribe button here. And our Legal AF YouTube channel could use a little love as well. Now more than ever. Independent commentary and media that's out there with their brass ones out need your support. Look what's happening in mainstream media. Look at the heads that are rolling. Look at the threats against them. Look at the lawsuits against them. We need your help and we're not asking for money. No paywall here. Just hit the subscribe button on legal, a after YouTube channel here on the Midas Touch network and follow our podcast, Midas Touch, Legal af, the podcast, of course. And I've got a new one called the Intersection on Tuesday nights and 8pm Eastern time right here on the Midas Touch Network. So until my next report, I'm Michael Popak. Can't get your fill of Legal af? Me neither. That's why we formed the Legal AF Substack. Every time we mention something in a hot take, whether it's a court filing or a oral argument, come over to the substack. You'll find the court filing and the oral argument there, including a daily roundup that I do called Wait for It Morning af. What else? All the other contributors from Legal AOFF are there as well. We got some new reporting, we got interviews, we got ad free versions of the podcast and hot takes where Legal AF on Substack. Come over now to free subscribe.

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