Where this was said
The Rug Pull Presidency: Trump's Crypto Billions vs. America's Job Losses
At 11:12 · chapter starts 7:28
Brett opens this segment by reflecting on how the MeidasTouch team had been calling this 'the rug pull presidency' from day one — but never imagined how literally true it would become once Trump's meme coin scheme unfolded [1] — Brett "I almost want to dig through some of the Midas Touch podcast archives because listeners know from the very beginning, especially of this Tr…" 07:28 . Jordy grounds the abstraction in cold numbers: the economy added 57,000 jobs in June against an expectation of 114,000, while Trump's financial disclosure showed $1.4 billion in crypto earnings in 2025 alone. The hosts argue this contrast is not a partisan talking point but a basic moral reality: a president is enriching himself while his supporters can't afford groceries. Ben then draws on his background as a civil litigator who prosecuted Ponzi schemers, arguing that the Trump economic team — Lutnick, Bessant, Hassett — are structurally doing exactly what Ponzi fraudsters do with Special Purpose Vehicles: promising the payoff is always one quarter away while the real money flows to insiders.
The US added only 57,000 jobs in June — less than half the already-soft expectation — while Trump's financial disclosure showed $1.4 billion in crypto earnings and 21,000 stock trades in 2025 alone. The contrast between a president enriching himself and working Americans losing ground has never been starker.
The US added only 57,000 jobs in June 2026, far below the already-soft expectation of roughly 115,000.
Trump brought in approximately $1.4 billion in crypto earnings in 2025 alone, disclosed in his partial financial filing.
Ben draws a direct parallel between Trump's economic team — Lutnick, Bessant, Hassett — and the Ponzi schemers he prosecuted as a civil litigator. The structure is identical: create Special Purpose Vehicles, promise the big payoff is always one quarter away, and keep rotating victims while insiders extract the money.
A damning supercut of Lutnick, Bessant, and Hassett promising explosive economic growth — Q4 2025, then Q1 2026, then Q2 2026, then second half 2026 — reveals the same trick Ponzi schemers use: keep the marks hopeful and keep rotating the promised payoff date.
