Legal AF by MeidasTouch - Trump DIRE FINANCES Get EXPOSED at WORST TIME

Episode Date: August 31, 2024

The reason Trump is now reduced to a late night 2 bit infomercial huckster selling the shirt off his back, trading cards, bibles and sneakers out of a van, is because he and his whole “unserious family is incapable of making a new BILLION DOLLARS of fortune to replace what he squandered, and all his grifting income streams have dried up. Michael Popok methodically breaks down why Trump is circling the drain financially and can’t recover, and why his selling the suit off his back and trading cards is a desperate cry for help the American people are ignoring. Get this exclusive offer when you use promo code LEGALAF at https://MagicSpoon.com/LEGALAF Visit https://meidastouch.com for more! Join the Legal AF Patreon: https://Patreon.com/LegalAF 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 Lights On with Jessica Denson: https://www.meidastouch.com/tag/lights-on-with-jessica-denson 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

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not a billionaire or successful business person. This is a sign of a financially desperate person who is slowly circling the drain as he tries to win the presidency to avoid certain jail time. Let me break down all of the problems that Donald Trump is having financially and why these new trading cards, digital or otherwise, showing Donald Trump to his, in his words, dancing. Oh, I can't wait to see Donald Trump dancing, or holding a Bitcoin, or, he doesn't reference it, and I'll show you the clip in a minute,

him in Butler, Pennsylvania, with whatever happened to him there, being used as a shill to try to raise money. Selling Bibles apparently wasn't enough. Sneakers out the back of a van in Philadelphia wasn't enough. Now you've got to have trading cards. And if you buy enough of the trading cards

and you get up to about the $7,500 level, you will be entertained at a gala dinner in Jupiter, Florida at another Trump golf course to meet Melania and Donald Trump. I'll lay odds right now that Melania does not show up for that. Let's run a clip first of the new trading card, suit off his back announcement, and then I'm going to dive into all of his

financial circumstances and the reason he's got to sell sneakers and Bibles and trading cards, just what I want in my kind of dignified presidential candidates. Somebody that looks like a unified presidential candidates. Somebody that looks like a two bit late night infomercial huckster. Let's roll the clip. Hello everyone. This is your favorite president, Donald J. Trump, with some very exciting news. By popular demand, I'm doing a new series of Trump digital trading cards. You all know what they are.

We've had a lot of fun with them. It's called the America First Collection. 50 all new stunning digital trading cards. You all know what they are. We've had a lot of fun with them. It's called the America First Collection. 50 all-new stunning digital trading cards. It's really something. These cards show me dancing and even me holding some bitcoins. Here's the best part. I'm doing great things for my Trump digital card collectors. First, there's the real physical Trump cards. Purchase 15 or more of my Trump digital trading cards and we'll mail you a beautiful physical trading card. It's really, I think, quite something. Each physical trading card has an authentic piece of my suit

that I wore for the presidential debate. And people are calling it the knockout suit. I don't know about that, but that's what they're calling it. So we'll cut up the knockout suit and you're going to get a piece of it. And we'll be randomly autographing five of them, a true collector's item. This is something to give your family, your kids, your grandchildren. Number two is to purchase 75 of my Trump digital trading cards. And you will also be invited to join me for a gala dinner

at my beautiful country club in Jupiter, Florida. We really have tremendous dinners with my collectors. Have a lot of fun together. We're gonna have a good time. I'm keeping my Trump digital trading cards at the same price of $99 each. We've done that right from the beginning. So go to collecttrumpcards.com.

It's really easy to buy. You just need an email address We've done that right from the beginning. So go to collecttrumpcards.com. It's really easy to buy. You just need an email address and a credit card or crypto. You know, they call me the crypto president. I don't know if that's true or not, but a lot of people are saying that. So don't miss out. Go to collecttrumpcards.com. Go right now and collect your piece of American history.

Let's have fun together and enjoy my Trump cards. We're gonna have a lot of fun. We'll be talking about it for a long time. Thank you very much. Have a good time. Let the fight begin. Let the fight begin. Let the fight begin.

All right, why is Donald Trump doing all this? And why don't other, you might be asking yourself, why don't other purportedly successful real estate developers do the same thing? Why do they just, oh, I don't know, actually develop property, actually buy and sell assets, actually invest and make money? Why don't they do this? Well, they don't do this for the same reason that Donald Trump was left with having to do the celebrity apprentice.

Everybody thinks he did that because he's a narcissist. That's true. But he also did it because he was on the balls of his ass financially and he needed the money. All right, follow the money. Can't figure out something with Donald Trump. It's transactional. Back 20

years ago, 25 years ago, he wasn't doing well financially. His real estate projects weren't doing well. He was coming off of four separate bankruptcies, including he found a way to lose money running a casino. He's the first person in the world history ever to lose money where the odds are all in favor of the house running a casino. He needed the money. In some of his bankruptcies, he was put on an allowance by a bankruptcy judge. That's how he got the celebrity apprentice. And from that, he used it as a launching pad

because of his celebrity to run for president. Why is he doing the trading cards? Why is he doing the Bibles? Why is he doing the sneakers? It's all the same darn thing. Why is he trading in Bitcoin? And why don't people think it's unsavory? If you saw a guy in the back of a van at your local flea market doing exactly what Donald Trump said and is doing, you would quickly run past the guy. You would. You wouldn't vote him into office as the leader of the free world.

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Get $5 off your next order at magic spoon.com slash legal AF, or look for Magic Spoon in your nearest grocery store. That's magic spoon dot com slash legal AF for five bucks off. Magic spoon, hold on to the dream. The reason Donald Trump has to do it is because his finances are in shambles. It's not even a house of cards. He can't even afford the cards to build a house of cards. Why?

Because the $500 million civil fraud judgment, which is sitting on top of Donald Trump, which is a casting a shadow, a dark shadow on him and his business operations slash criminal operations is having real impact. It's an overhang over Donald Trump. It means that banks don't wanna do business with him and aren't that counterparties in the lending

and insurance business, in the real estate market don't wanna do business with them and they're not. And in addition to that judgment, there is a financial monitor that he pays for that's an officer of the court that reports to Judge Angoran who looks at everything that Donald Trump does. Every I dotted, every t crossed, every dollar moved. And since that monitor was put in place two years ago, and since that $500

million judgment has been imposed back around the holidays, Donald Trump and the Trump organization, which is his main conduit along with his trust to operate businesses haven't done any new business. They haven't generated one new dollar, one new dollar of money. They're living off of old money and that's dwindling. Yeah, they got some licensed deals for their name in Dubai and Oman, in the Arab Emirates and different places. He can't get his name on any other buildings in the States. His name is Mudd. There are buildings in New York that already had his name where the people are spending good money

to take his name off the buildings. There's no brand anymore for Donald Trump. He had to sell the hotel near DC, in Washington at the old post office, near the White House. He can't force people that wanna do business with him as president to stay in his operations anymore. So he doesn't get that revenue of cash.

He made a hundred million dollars or more forcing people who wanted to do business with his administration to stay and spend money at his properties. Can't do that any longer. So that dried up. His branding in America dried up. His new development of new golf courses with his name on it in shiny letters has dried up. He's living off of Mar-a-Lago, a handful of golf properties here and abroad, some license deals, and that's it. And of course,

Truth Social and a technology media company that is already plummeting in value. Its value has been more than halved. It's down 60% since Kamala Harris and the Kamala Harris surge began over a month ago. It's down to almost $19 a share. At one point, we were doing Legal AF talking about it at $54 a share and he has 140 million shares. So his big payday of $4 billion in making money in September when he can start selling his shares is a pipe dream. It's not going to happen. If he can get $100 million from the sucker bet of selling his shares, I'd be shocked as he crashes the stock even below that. We're now hovering between the $10 initial price of that stock and the $20 that it is currently trading at, and everybody's getting crushed in the meantime. So he doesn't

have the big payoff and the big payday, yet he's got what's approaching a billion dollars with a B of civil fraud and other judgments against him, including E. Jean Carroll for sex assault and punitive damages. And so you dry up the $100 million and he and his family made by forcing people to stay on Trump property while he was president, gone. You dry up all new branded communities and real estate projects in America because his brand is so sullied and in the mud, gone. Because he's got a monitor over him and a major fraud judgment against him. No banks in America want to do business with him. No counterparties want to do business with him. And no insurance companies want to do business

with him. So no new projects, gone. He's got the leftover because he still seems to be reasonably popular, I guess, in places where they don't respect civil rights and women's rights like in the Middle East and in other autocratic countries. So he's making some money there. And so what's he left with? He's left with Truth Social, his public company that is going down the drain and fast. And he's left with selling sneakers, Bibles, suits off his back and trading cards. But why do you want to – I'm not speaking to the audience directly. This is more of a rhetorical question. If his main claim to fame is he's a businessman and knows how to run business and you need a businessman in the White House because things are much better when a business person ran the

White House, how can he lay claim to that any longer with the fraud and the billions of judgments and the convictions for fraud and the banks who don't do business with them and the real estate transactions he can't do and he's left selling sneakers out of the back of a van? and the real estate transactions he can't do, and he's left selling sneakers out of the back of a van. How is that what you want in your president? Like I said, if you just saw him on the side of the road in a van with, imagine just a sign above it that said, Trump on the back, the van doors open, and you just see boxes of sneakers, you see trading cards, you see Bitcoin on computers, and you see suits that he was carving up with his scissors and selling.

How quickly would you move past that van and get away from that scene, right? That snake oil salesman, middle of the night, infomercial scene. But I'm here to tell you why it's happening. It's happening because all of his traditional sources of income, all of his revenue streams have dried up, not to a trickle. They're just, it's just a dry bed. There's nothing left. He's not doing

this out of the goodness of his heart. He makes it sound like in that video that I just played, that clip he just played, that I don't really want to do this but by popular demand and acclamation, all of my fans really want those trading cards and see me dancing and whatever else I'm doing. That's not why. That's not why. I mean, if you're going to buy them, at least understand he needs you to buy them because he needs the money. We see it in his, and we will see a report on it because this is how this ecosystem works. He's now a federal candidate for the office of the presidency. He's got to report his revenue at least. He did that already last month. And so he's going to list, I don't know, I sold $300,000 worth of Bibles,

I sold $1 million worth of sneakers, I sold $7 million worth of trading cards. He needs the money. It's just not sustainable. It's not reproducible. He can't continue to do this into his 80s, especially when he loses in November. That's why we don't see much of Melania. Melania knows that this is like a music box that's slowly running out of juice. that's slowly running out of juice. And it's just going to stop in mid-melody any moment now. And he can't replenish it. First of all, he doesn't have the stamina or the intellect or the drive or the entrepreneurial chops anymore to reproduce and make his next billion. He's not going to make the next billion dollars to replace the billion that's missing at his age and his dementia and his lack of focus and discipline. He's not making a new billion dollars and neither are those

unserious children of his. I mean, Ivanka may spend a billion dollars over the next decade, but she's not gonna make a new billion. Does anybody believe Don Jr. is gonna make a new billion? Eric make a new billion? No, none of them are gonna. How about Alina Haba? Is she gonna make Donald Trump a new billion?

Nobody is. He can't reproduce his fortune. He can't make the next generation of his fortune. So he's left panhandling on the side of a road, or as I said on One Hot Take, he's down to wearing a barrel with suspenders selling apples and pencils on the side of the road. It's that version of it. It would be sad if he wasn't also trying to hijack democracy on November 5. I got to call out the finances as I see them. I used to practice on Wall Street for a period of time. I'm also, of course, everybody knows a practicing trial lawyer nationally in various jurisdictions,

including in New York and Florida. So I talk often about the practice and procedure in those courts. I do it on Legal AF at the intersection of law and politics. Look at that. On Wednesdays and Saturdays at 8 p.m. on YouTube right here on this MidasTouch free subscription service data platform. I almost said database. And then you can pick me up on all audio podcast platforms. We sit at that intersection of law and politics so you don't have to. We don't blow smoke or sunshine. We're lawyers who know what we're talking about. We're almost never wrong. Not never wrong, just almost never wrong. And at lawyers who know what we're talking about. We're almost never wrong. Not never wrong, just almost never wrong. And at the very least we're entertaining

and we will admit when we're wrong. How refreshing. There's nothing like us on YouTube. I promise you, it's called Legal AF. If you don't know why we named it that four years ago, now you know. So until my next hot take, until my next Legal AF, this is Michael Popak reporting.

Heary, heary, Legal AF Law this is Michael Popak reporting.