Splicetoday

Politics & Media
Feb 20, 2025, 06:28AM

Scams of the Right

Beware of crypto schemes and constitutional transgressions.

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I saw friends effusing on social media about how Argentina’s president, Javier Milei, was turning his country into a model of libertarian prosperity. Soon after, Milei was facing fraud allegations, and calls for impeachment, over his promotion on X of $LIBRA, a cryptocurrency that crashed. Critics suspected the incident might’ve been a “rug pull,” a scam in which crypto developers draw investment and then quickly withdraw their own stake, leaving the buyers with worthless tokens. That seems to me an apt metaphor for libertarianism and rightism more broadly, sucking people in with visions of a freer society, then explaining that a strongman is needed to fight against big government, and then screwing everybody.

I distrusted Milei since his February 2024 visit to Israel, where he wept at the Western Wall, announced he’d move Argentina’s embassy to Jerusalem, and talked about converting to Judaism after he leaves office, sparking euphoria among Israeli right-wingers and American Jewish right-wing magazines alike. There are few more credulous than people who believe they’re part of a movement to save civilization, in whichever country, from the depredations of the left, and all that’s needed is to give power, adulation and, importantly, money to the leaders spearheading this triumphant rightist revival. This includes ignoring conflicts of interest and accepting at face value claims that tax dollars have gone to bogus uses, notwithstanding how right-wing leaders often themselves massively upped public spending and debt.

On X, my friend Steven J. Giardini, with whom I enjoy ideologically divergent discourse, complained that I, a former Republican, am “unwilling to confer even a scrap of probity” on Donald Trump and his deputies. I replied that indeed I don’t see a scrap of probity there. However, as the term stuck in my mind, and since I’m trying to get my German up to a conversational level, I typed it into Google Translate and got “ein Stück Redlichkeit,” which I like even better and intend to use on an ongoing basis. I recalled my father once saying that my uncle Bob’s then-girlfriend was a Stück Unglück, a piece of bad luck.

I started contemplating why I think Elon Musk is such a verdammtes Arschloch, a fucking asshole. One of many reasons is his advocacy of Alternative for Germany (Alternative für Deutschland, AfD), the German far-right party, in the upcoming German snap election. AfD is, arguably, even further-right than the far-right Freedom Party (Freiheitliche Partei Österreichs, or FPÖ) in Austria.

I’ll have a chance to vote against FPÖ if Austria holds a snap election soon, now that coalition talks have broken down between FPÖ and the conservative People’s Party (Österreichische Volkspartei, ÖVP). My Weltanschauung’s most aligned with the centrist party NEOS (Das Neue Österreich und Liberales Forum), but as a new Austrian, I’d been unsuccessful in getting on the voter rolls before the September election,  inspiring a paranoid thought that someone might be slow-walking applications from those who became citizens under Section 58c of the Staatsbürgerschaftsgesetz, or Austrian Citizenship Act, based on persecution of their (often Jewish) ancestors. More likely, I mailed the paperwork to the wrong office. A nice guy at the Austrian consulate in New York advised me on re-applying, which worked smoothly.

That earlier suspicion, though, suggested that I too am not impervious to dubious worries that an anonymous bureaucrat is doing something that would wither if only a spotlight shone upon it. From there, it’s a short step toward belief that a demagogic politician is looking out for you, the taxpayer, the normal person, the one who’s not one of those special interests that are sucking at the government teat. Yet it’s entitlements, distributed broadly to the population in accordance with the law, that are the main driver of the growth of government spending and debt. There’s always a need to cut down on “waste, fraud and abuse,” but they’re not the key to the fiscal problem. Nor are foreign aid, grants to scientists, or the staff costs of maintaining bureaucracies; sometimes these are wasteful, sometimes they just seem wasteful when publicized out of context, but they are scapegoats. And a spending freeze that abandoned people in clinical trials with medical devices in their bodies is one of many DOGE disgraces.

Call me a skeptic, a cynic, a pendejo, a Schweinehund if you wish. If you’re cheering for the far-right, in America or around the world, consider the possibility the crypto scheme or constitutional transgression they’ve sold you on might not be entirely in your interests, and that a rug might soon be pulled.

—Kenneth Silber is author of In DeWitt’s Footsteps: Seeing History on the Erie Canal. Follow him on Bluesky

Discussion
  • Recommended: an open letter to Elon Musk. https://www.democracydocket.com/opinion/my-open-letter-to-elon-musk/

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  • Also: https://www.thebulwark.com/p/what-elon-musk-black-maga-hat-means-splinter

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  • Re: the "open letter" - as I see it, Elon et al. are not "dismantling government," they are (very transparently) identifying obvious waste in everyday areas of government, in preparation for a more painful discussion of waste in ACA, Medicaid, Medicare and Social Security (in that order). Does Marc Elias (who writes like a pompous turd, trotting out his grandfather's ship manifest) think that chronic deficits and debt that is 110% of GDP do not need dismantling?

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  • "Very transparently" shouldn't be in a sentence with DOGE. On Feb 17 the White House filed court papers saying Musk isn't DOGE's director. Two days later Trump said Musk is in charge of it. The whole thing has been set up to avoid accountability, with unidentified employees getting sweeping access to systems, and people from SpaceX having power over agencies they do business with or that supposedly regulated them.

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  • Here's something transparent: https://www.nytimes.com/2025/02/20/us/politics/spacex-elon-musk-discrimination-doj.html

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  • And this puts some light on what's going on: https://www.propublica.org/article/doge-trump-musk-funding-foia-congress-transparency

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  • Well nobody's perfect. But I still think that all of the highly-publicized announcements and the daily publishing of findings is a stupid way to be sneaky.

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  • Would it be of concern that DOGE has used US marshals (USMS) as a political tool, eg to prod judges to move faster on releasing pardoned J6 rioters https://img.washingtonpost.com/opinions/2025/01/23/doge-jan-6-marshals-federal-judges/ https://www.citizensforethics.org/news/analysis/trumps-politicization-of-the-u-s-marshals-service-is-a-threat-to-our-democracy/ and that USMS has now deputized Musk's private security? https://www.cbsnews.com/news/elon-musk-private-security-detail-deputized-by-us-marshals-service/

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  • "Allegations" of fraud against Milei? Not really news. What has a judge ruled on the matter? That would be news. Calls from the opposition for impeachment? Not news either. Critics "suspected" a rug pull, but have produced no evidence? Not news. I thought you were Mr. Factual.

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  • "On Friday, a federal prosecutor formally opened the probe to determine the involvement of Milei and five others in the creation and promotion of $LIBRA, for the possible crimes of bribery, fraud, influence peddling and abuse of authority."https://apnews.com/article/argentina-milei-meme-coins-crypto-melania-e83b5ffd61b1dbc9e7c1272096d39aaa Anyone who demands, at this juncture, that I inform them "what a judge has ruled on the matter," is engaged in antics.

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  • I didn't demand anything of you - reread my comment - but thank you for helping me make my case with your mention of "possible crimes." Anyone who suggests that an "investigation" of a controversial politician that they personally dislike means anything at this point is being obtuse. Maybe you haven't noticed how politics works when it comes to allegations and suspicions.

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  • Milei indisputably encouraged investors to buy $LIBRA, and they indisputably lost about $100 million. The question is whether he's a con artist or just a schmuck. https://www.dw.com/en/argentinas-milei-faces-credibility-crisis-over-crypto-scam/a-71691738

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  • You have not presented this as a question, rather suggesting that he's a con man while the jury is still out.You must think it's plausible that the elected leader of a large nation thought he could get away with such a "rug pull" right out in the open. Kind of like you thought it was plausible that slack-jawed, perpetually lost Joe Biden was cognitively fit to run for office.

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  • Update: "But Mr. Milei’s story has begun to unravel, showing how crypto and politics have increasingly blended to enrich the powerful and take from most everyone else." https://www.nytimes.com/2025/02/28/world/americas/argentina-crypto-scandal-president.html?smid=nytcore-android-share And amount investors lost now put at $251 million.

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  • Lest anyone think such corruption could happen in Argentina but not ... https://www.cnn.com/2025/02/28/business/crypto-mogul-trump-coins-civil-fraud-charges

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  • Ken, do you think even one person has read one of the many links you post here? The comments section is not a place to post links, if you haven't noticed. Nobody cares about them. And do you think that quoting NYT in a piece that contains nothing definitive is meaningful? It's obvious that Milei's tweet promoting the crypto was a serious breach of ethics, but maybe you should wait until the investigation concludes before pontificating any further about rug pulls etc. You really have no idea what happened on this issue, as far as I can see, besides posting links.

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  • But since you like links so much, I'll offer this one to your piece telling us what fools Americans who pointed out Biden’s diminished cognitive powers were. You wrote it well after his condition was obvious to anyone with average powers of perception. Maybe you should write a follow up to this one? Is it possible you could be wrong on anything? Not from what I can observe. https://www.splicetoday.com/politics-and-media/biden-s-brainpower

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