Legal AF by MeidasTouch - Financial Markets BRACE For TRUMP…Major SELL OFF?!?

Episode Date: January 2, 2025

The financial markets are bracing for another Cryptocurrency Winter caused by Trump and his impertinent statements which are roiling the markets, leading to a $500 Billion Dollar loss in crypto in the last few days because of Trump. Michael Popok uses his Wall Street background to explain what happened and what is likely to happen next as the Cryptocurrency industry has second thoughts about investing in Trump in the first place. Rocket Money: Let Rocket Money reach your financial goals faster by going to https://rocketmoney.com/legalaf Visit https://meidastouch.com for more! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af MissTrial: https://meidasnews.com/tag/miss-trial The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Coalition of the Sane: https://meidasnews.com/tag/coalition-of-the-sane Learn more about your ad choices. Visit megaphone.fm/adchoices

Well that was quick. The honeymoon period for Donald Trump is over before it even began. Now whatever he says out loud crashes financial markets and leads to our enemies attacking and rejecting statements made by Donald Trump in an instant boomeranging and hitting America right in the face. I'm Michael Popak. I'm here for it. This is the Midas Touch Network and Legal AF. Let's talk about Donald Trump trashing and crashing the cryptocurrency market before he even got into office. Donald Trump supposedly is some sort of cryptocurrency and bitcoin guru, and if he isn't he claims that his son Barron Trump, the 18-year-old or 19-year-old at NYU is.

But Donald Trump made a couple of really ridiculous statements in the last few days and the crypto traders are going like, huh? He's saying things like all the remaining Bitcoin that needs to be mined over the next hundred years should all be mined by crypto miners in America. Impossible, by the way. And that we're going to create a cryptocurrency Bitcoin strategic reserve, like an oil reserve, that the government is going to double down on my private investments in cryptocurrency, to which the cryptocurrency and Bitcoin market said, sell.

And now there's been 500 billion with a B, billion dollars worth of sell-off of Bitcoin since Donald Trump made those statements. 500 billion dollars of value evaporated because Donald Trump doesn't know what he's talking about. He's surrounded by people who don't know what they're talking about and crypto traders who have already gone through one crypto winter are waiting for another crypto winter that they think is going to hit pricing around the time of the inauguration. But to Donald Trump, he doesn't care. He's got so much other money tied up in his truth social media. He doesn't really care about

his cryptocurrency holdings. He doesn't care about how the average person who's got some sort of cryptocurrency who bought it because Elon Musk told them to is being wiped out. This is another example of voters having second thoughts and maybe wanting to retrade their decision to vote for Donald Trump. Hey all you cryptocurrency investors. Hey all you cryptocurrency companies that invested hundreds of millions of dollars into Donald Trump's campaign thinking you'd be able to write whatever policies you wanted. How's it going for you so far? There was a lot of champagne bottles popping over the $100,000 Bitcoin price a couple of weeks ago.

Have you checked it lately? It's now down to about $100,000 Bitcoin price a couple of weeks ago. Have you checked it lately? It's now down to about $90,000. That's a big drop, mainly because Donald Trump doesn't know what the heck he's talking about. And the world is watching. Our enemies like Putin, just to compare here, as soon as Donald Trump announced that there should be a ceasefire and there's a plan that Donald Trump is proposing to stop Russia's war on Ukraine, to stop its violation of sovereignty. How did Putin react?

Completely rejecting the ceasefire plan, completely rejecting the peace plan that Donald Trump has supposedly floated already before he's in office, already conducting foreign policy while he's not even president yet in violation of the constitution to which Putin said, yet, that's about the extent of my Russian, yet, yet, and let's bomb Ukraine on Christmas night and knock out its power supply and its power grid. That is the reaction of the world to Donald Trump. I had a conversation recently with somebody, smart guy, Republican. That's fine. I have a lot of smart guy, Republican, and people, Republicans around me that I have conversations with. You can't just completely bury your head in the sand. I mean, I get along better with sort of Rockefeller

and Goldwater and Reagan Republicans, but I do have conversations. And he said, I think it's good for the world and world order and world peace for Donald Trump, who's erratic to take the presidency, because that erratic to take the presidency because that erraticness is a doctrine, is a policy. I said, are you out of your cotton picking? Are you out of your mind? Sorry. That's not a policy.

Erraticness, a lack of discipline mind, an ugly mind so to speak, is not a doctrine, is not a strategy. It will be exploited and is being exploited by strong-willed dictators and our enemies and terrorists around the country and around the world. They can't wait for Donald Trump to get into office to exploit his, you know, his, what's the word I'm looking for, his lack of ability to make a coherent decision. The chaos around Trump and his thought process and his implementation of policy is a boon to our enemies and traders and brokers in our financial services markets are watching. You know what makes them nervous?

Erratic presidents. You know what makes them nervous? It makes the markets jittery and people lose money when they can't trust and bank on reliability in our government? They don't like government and policy by social media tweet. They don't like to have to wake up in the morning and find out what at three o'clock in the morning Donald Trump wrote about the cryptocurrency market or about the Securities and Exchange Commission or about the environment

and have to figure out how that factors into financial markets. They were already exhausted the first time around. Now, Donald Trump is going to claim credit for things when he gets into office that are all on the Democratic dime. We should let him as fair-minded people. He's going to take credit for cheap gas and falling gas prices on his way in. That's all Joe Biden and the Democrats. He's going to take credit for low unemployment. And that's all on Joe Biden and the Democrats. He's going to take credit for low inflation.

And that's all on Joe Biden and the Democrats. He's going to take credit for falling murder rates and homicide rates in cities down to the lowest numbers they've ever seen since the 1960s. And that's all on Joe Biden and on the Democrats. But Trump will try to take credit for it. But smart, sharp money knows better. And that's why the financial services markets are ready to crash upon the arrival of Donald Trump. We're not going to get a Donald Trump bull market. We're going to get a Donald Trump bear market. Look what he's doing to royal the cryptocurrency market. The start of a new year is the perfect time to get organized, set goals, and prioritize what matters most. For me, a top priority is my financial wellness, which feels more important

than ever now that I'm going full-time with my media work and I've opened a new law firm. Thanks to Rocket Money, my goals feel achievable. They show me all of my subscriptions right in one place and help me easily cancel ones that I forgot I've been paying for. Rocket Money also pulls together all of my spending across all of my different accounts

so I can clearly track my spending habits and see where I can cut back. Let me give you an example of Rocket Money in my life. Missing out on a show that everyone is talking about isn't an option for me. I'm constantly signing up for this streaming service or that one. And then a few months later, I realize I've still been paying for the service long after I finished the show. Getting Rocket Money was a game changer for me. They'll find your unwanted subscriptions and even help you cancel them. So you never have to worry about them

slipping through the cracks. Rocket Money is a personal finance app that helps find and cancel your unwanted subscriptions, monitors your spending, and helps lower your bills so you can grow your savings. You can see all of your subscriptions in one place and know exactly where your money is going. For ones you don't want anymore, Rocket Money can help you cancel them. Rocket Money's dashboard gives you a clear view

of your expenses across all of your accounts. Rocket Money's new goals feature automatically saves money for you so you don't have to think about it. Pay off credit card debt, put away money for a house, or just build your savings. Rocket Money makes it easy. Rocket Money will even try to negotiate lower bills for you.

They automatically scan your bills to find opportunities to save, then you can ask them to negotiate for you. They'll deal with customer service so you don't have to. Rocket Money has over 5 million users and has saved a total of 500 million in canceled subscriptions, saving members up to $740 a year when using all of the app's premium features. Cancel your unwanted subscriptions

and reach your financial goals faster with Rocket Money. Go to rocketmoney.com slash LegalAF today. That's rocketmoney.com slash LegalAF. One more time, rocketmoney.com slash LegalAF. One more time. RocketMoney.com slash Legal AF. Nobody reports on the $500 billion that disappeared overnight because Donald Trump can't keep his mouth shut and can't keep his head on straight about what cryptocurrency is or should be and what appropriate policy is going to be. And we got a report on it right here.

All, I'm going to say it one more time, for those that invested in Donald Trump and the cryptocurrency market, that thought they were getting a president in their corner, all Donald Trump cared about was two things in going into office, avoiding criminal liability for the crimes that he committed. That's one. And secondly, lining his pocket and those of his family and make sure they leave office like any good dictator more financially well off than they were on the way in. You know how all those dictators leave office with billions and billions of dollars of their tax of their constituents money in jewels in gold in investments

in money in Swiss bank accounts you know how that happens when they leave like Assad from Syria you don't think he's got billions of dollars hidden somewhere? That's what's going to happen with Trump and his family on the way out. It's a crime spree in plain sight. And now people, and we've done a lot of reporting on the Mighty Stitch Network, people in the various sectors and industries and constituencies that supported Donald Trump are saying, is that the guy I voted for? Yes. Yes, that's the guy you voted for. Is that the guy I voted for? Yes. Yes, that's the guy you voted for. I'm going to continue to follow closely with my Wall Street background.

Having been an executive on Wall Street, having been a lawyer on Wall Street, I'm going to follow closely what is happening on Wall Street and its reaction to Donald Trump on a daily basis. I'm going to come right back to you here on the Midas Touch Network and on Legal AF. Join me on Tuesdays for a new show, sort of like this but longer, called PopePak Live, Tuesday nights at 8 PM, right here on Eastern Time, right here on the Midas Touch Network. And then on Wednesdays and Saturdays, oh, it's the OG podcast Legal AF. Find out what 40 million people a month already know. Law and commentary analysis and, so we try that again, analysis and

commentary about law and politics like no other on YouTube. See, it's live, folks. Join us on Wednesdays and Saturdays at 8 p.m. Eastern time here on this MidasTouch YouTube channel and everywhere you get your podcasts from. And then I mentioned to you we got a brand new legal AF YouTube channel that I curate at the intersection of law and politics. We made it durable and lasting so we can hold people accountable in federal office, in state office, our elected officials, our judges, right in time for Donald Trump's arrival. Come over to Legal AF, the YouTube channel, hit the free subscribe button as well there. Until my next reporting, I'm Michael Popock.