Tag: Milei

Milei Ally Resigns after Bribery Allegations. 

Earlier this week, a close ally of Argentine President Javier Milei resigned due to bribery allegations. Jose Luis Espert, a member of Argentina’s lower house of government, known as the Chamber of Deputies, is alleged to have close ties to Argentine businessman Frederico Andres Machado, better known as Fred.  Espert may have accepted a two-hundred-thousand-dollar bribe from Machado related to the upcoming Argentine congressional election, according to a report from a website called the Court House News detailing how it is caught up in a sprawling case involving cocaine being smuggled on board airplanes owned by clients who have close links to various South American drug cartels. On top of that, he is also alleged to have been involved in a $550 million Ponzi scheme that involved the sale of up to 100 fake airplanes. Espert claims he thought the money was coming from Machado’s Guatemalan mining company, which, considering Machado’s other business “ventures,” I find hard to believe.      

Javier Milei’s Cryptocurrency Misadventures. 

Last week, Javier Milei, the chainsaw-wielding president of Argentina, became embroiled in a cryptocurrency scandal.  According to a report in the Guardian, Milei tweeted about a cryptocurrency called $Libra, saying it would boost the notoriously sluggish Argentine economy.  According to a report in the AP, the backers of $Libra are a fascinating collection of characters. Hayden Davis, a well-known meme coin developer who founded the Melania Trump meme coin, is the main backer of Libra. As well as Davis, Dave Portnoy, the founder of Barstool, was deeply involved in the promise of an interview with Milei; finally, an unknown crypto backer known as “Meow” also played a prominent role.  When Milei touted $Libra, the price went from $0 to $5 and then only a few hours later plummeted back down $0. This appears to be a classic “rug pull” whereby a cryptocurrency is artificially inflated, and the value craters when crypto influencers sell their shares, making the tokens worthless. It is unclear what will happen to Milei, but there are rumors of possible impeachment proceedings in the future.