This week, Lisa and David talk about… wait, there’s no Lisa this week. This week, David is joined by guest co-host Addison. We talk about Canadians being angry; DOGE actions; Supreme Court says Trump must unfreeze foreign aid payments; Democratic messaging problems; a quarter of startups in YC's current cohort have codebases written by AI; crypto and eliminating the dollar as the world reserve currency; Trump and ‘illegal protests’; Tesla facilities attacked because Elon Musk is widely unpopular; and more, including a special musical experience.
Trump and ‘Illegal Protests’
Why isn’t there more news reporting about this? While Trump has not explicitly defined what he means by "illegal protests," the context suggests he is referring to pro-Palestinian demonstrations and activities that have been perceived as antisemitic.
However, it's important to note that there is no legal concept of an "illegal protest" in the United States. The First Amendment explicitly protects the right of peaceable assembly. According to Gregory Magarian, a constitutional law expert at Washington University in St. Louis, "Trump's threat should chill and enrage anyone who cares about the First Amendment".
Impacts of Eliminating the Dollar as the World’s Reserve Currency
Eliminating the dollar as a reserve currency, also known as de-dollarization, could significantly impact the U.S. economy through multiple effects, including eroding the stock market’s value, hyperinflation, fiscal crises due to borrowing costs, and reduced geopolitical influence.
Vladimir Putin has pushed for de-dollarization to reduce Russia's economic vulnerability to U.S. sanctions and the "weaponization" of the dollar. He has called for greater use of national currencies, especially within BRICS nations, to bypass reliance on the U.S. dollar in trade and financial transactions. He views diversifying away from the dollar as a step toward economic sovereignty and resilience. Additionally, he has framed de-dollarization as part of a broader effort to promote alternative global financial systems and strengthen ties with non-Western partners like China.
Elon Musk has expressed interest in de-dollarization, particularly in relation to cryptocurrencies. He suggests that cryptocurrencies like Bitcoin and Dogecoin could serve as viable replacements for traditional fiat systems. Musk's ventures, such as Tesla and his rumored "X Money" platform, would be beneficiaries of such a move. Critics warn that cryptocurrencies lack the stability and liquidity to serve as fiat currency and that even promoting blockchain as a replacement for traditional currency could undermine the U.S. dollar's status as the world's economic benchmark. They warn that the push for crypto from figures like Musk has fueled a dangerous speculative bubble that could burst at any time.
Links:
Divided Supreme Court rejects Trump bid to freeze nearly $2 billion in foreign aid (AP)
Can Trump legally force US universities to silence protests? (Al Jazeera)
Detroit march against Trump lists myriad grievances (The Detroit News)
WashU Expert: There is no such thing as ‘illegal protest’ (Washington University)
How South Carolina firing squad works (AP)
Americans Are Getting More Musk Than They Ordered (Statista)
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