Trump SCREWS his Entire Cabinet with LATE FRIDAY PICK
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What did Trump announce about Kelly Loeffler as his new Secretary of Agriculture?
So let's talk about Donald Trump just naming Kelly Loeffler as his secretary of agriculture. She used to be a senator from Georgia. She was actually appointed in that position by Georgia Governor Brian Kemp. She lost. back in, what was it, the 2020-2021 election period to Raphael Warnock, the current Democratic Senator of Georgia. She is the wife of Jeffrey Sprecher. He owns a company called ICE, which is the international or the Intercontinental Exchange which is the parent company of the New York Stock Exchange. And Kelly Loeffler really made her money, her marrying into massive wealth with Jeffrey Sprecher. But her parents were farmers. They were big agriculture subsidy recipients, which is interesting because on the other hand, Donald Trump's head of HHS,
Health and Human Services, RFK Jr., kind of rails against Big Ag. So, you know, it'll be interesting to see that tension there. Let's explore Kelly Leffler's background here. Let's talk about her parents for a second. Don and Linda Leffler, Kelly's parents, lifelong corn and soybean farmers. Don also ran a trucking business that moved farm equipment since 1995. Her dad, Don, received $1.2 million in federal government funds for crop subsidies, and her mom, Linda, received $214,000. Her brother also, Brian, has received subsidies, about $1.3 $3 million in benefits. Brian has received more subsidies than anyone in Stanford, Illinois. And then after her marriage, Molly Leffler began to receive farm subsidies after her marriage to Brian Kelly's brother.
And she received subsidies in the amount of $671,000. So lots of government subsidies there. It's interesting because during COVID, Kelly Loeffler railed against people in her own state getting an extra $600. When you go and explore Leffler's background as well, she's the former CEO of a crypto company called Bakkt, B-A-K-K-T, which is a subsidiary of her husband's company, Intercontinental Exchange, or ICE. And what's interesting right now is that Bakkt, BAKKT, recently announced that it would be selling itself to Trump Media, the parent company of Truth Social, right before the announcement of Trump appointing Loeffler as Secretary of Agriculture. Kelly Loeffler also was one of the biggest fundraisers for Donald Trump this cycle.
Here was the article about Bakkt being sold to Trump Media, and that caused the stock price of both Bakkt and Trump Media to increase significantly.
How did Kelly Loeffler’s family benefit from federal farm subsidies?
Trump Media is in advanced talks to buy the cryptocurrency trading firm Bakkt. The Financial Times reported Monday, citing two people with knowledge of the talks. The news sent shares of both companies soaring. Trump Media, which is majority owned by Trump, shot up by double digits minutes after the Financial Times reported this. And then it says shares of Bakkt, which was created by Intercontinental Exchange, Loeffler's husband, the owner of the New York Stock Exchange, skyrocketed more than 162% among repeated halts due to volatility. Kelly Loeffler, a previous CEO of Bakkt, is the co-chair of Donald Trump's inauguration committee. Loeffler, who is married to Intercontinental Exchange CEO, Jeffrey Sprecher left as Bok's top executive in 2019 when Georgia Governor Brian Kemp appointed her to the U.S.
Senate seat, vacated at that time, and then she lost when she was running against Raphael Warnock. Here was an important moment during that debate with Warnock. We know that Kelly Leffler's family have accepted, read that over $3.2 million in farm subsidies from the government. Meanwhile, she said it would be counterproductive to give Georgians $600 of relief. So why would it be counterproductive to help ordinary Georgians in the middle of the pandemic? Here it is right here.
Regarding the coronavirus pandemic. You dumped millions of dollars of stock in order to protect your own investments. And then weeks later, when there came an opportunity to give ordinary Georgians an extra $600 of relief, you said you saw no need and called it counterproductive. Why do you think it's counterproductive to help ordinary Georgians in the middle of a pandemic?
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Chapters
6 chapters
1
What did Trump announce about Kelly Loeffler as his new Secretary of Agriculture?
0:00–3:21
2
How did Kelly Loeffler’s family benefit from federal farm subsidies?
3:21–7:30
3
Why is Kelly Loeffler’s connection to the crypto firm Bakkt relevant to her cabinet pick?
7:30–11:01
4
What insider‑trading allegations have been made against Loeffler and her husband?
11:01–14:27
5
How did the Department of Justice and SEC respond to the insider‑trading claims?
14:27–16:18
6
Which other Trump cabinet picks have billionaire‑level net worths?
16:18–16:35
Speakers
5 identifiedMore from The MeidasTouch Podcast
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