Meme coin destroys Argentina’s economy - president Milei faces impeachment. There’s a lesson in this, Mr. Trump . . .

Photo above - quick, how many crypto currencies worth more than a dollar can you name? Screem shot courtesy of the film Robocop. The original one, not the atrocious 2014 reboot where he can suddenly fly like a cruise missile.

Add this to the list of 630 cryptocurrencies I cannot name: “Libra”. It was invented by Solana, a blockchain platform which has gotten rich pulling this same stunt repeatedly. Solana “controls” 95% of all meme coins, and used artificial intelligence to create over 8,000 new flavors. Both the Trump and Melania meme coins are Solana gimmicks. It's all perfectly legal, just so you know. I'm not slandering anyone.

Yesterday the Libra meme coin collapsed, losing 80% of its value in 2 hours as “insiders” rushed for the exits. Argentine’s new president Milei (the one with the actress/supermodel girlfriend) was pushing Libra as the salvation of the Argentine economy. Milei is now facing impeachment. It is not known if his girlfriend Fatima Florez has her own meme coin deal with Solana. (Ticker symbol SOL-USD)

The idea that crypto currency speculation can solve a nation's budget deficit, or help pay off its national debt, is ludicrous of course. Meme coins seem to principally a get rich scheme. If you doubt that this is true, please name as many crypto currencies as you can worth more than a dollar. Bitcoin is #1, at $100,000. Congrats, if you got Ethereum at $2,000. But Ethereum one declined 6% over the past year. The other 600+? I’m not going to waste time looking them up.

After Milei is impeached for investment fraud, it’s possible Argentia will return to socialism. Before Milei, Argentia was run by Cristina Fernandez de Kirchner – several times, as first lady, president, vice president, and the offstage figure who might have controlled at least one puppet President. Argentina's inflation was over 100% not too long ago. Ms. Kirchner is still alive and was acquitted of currency fraud during her own presidency. It is not known if she has her own meme coin today though.

Other than bolstering personal bank accounts, it's not clear what President Trump and estranged wife Melania hope to achieve with their personal meme coins. Certainly it’s not economic stability for our nation, stable US dollar exchange rates, an improved balance of trade, or reduced inflation. If any readers can link to a source on how meme coins would solve these problems, please have a go at it.

Barron Trump, I have faith in the youth of our nation. Please take a step back from the cliff and think twice about issuing your own meme coin. You have your entire future ahead of you. Don’t eff it up at age 18, no matter what your daddy may have told you.

I’m just sayin’ . . .

Argentina’s President Milei faces impeachment calls after promoting cryptocurrency | CNN

Will Argentinian President Milei's Crypto 'Fiasco' Be a Deathblow for Memecoin Craze?