Day: August 30, 2026

Background Briefing: August 30, 2026

The Crypto and AI Billionaire Bros Are Buying the November Election With Fake Money

We begin with the alarming report in The New York Times “Meet the Megadonors Who Have Poured $1.2 Billion Into the Midterms” which reveals that crypto and AI billionaires and companies are the dominant donors, and since crypto bought 6 U.S. Senators and spent $40 million in 2024 to defeat their opponent Sherrod Brown, the Chairman of the Senate Banking Committee, this time they could be poised to buy the November election for the Republicans using fake money. Joining us is Molly White, a software engineer and cryptocurrency critic. In addition to her longer-form critical writing about the topic, she maintains the website Citationneeded.news, where she catalogs only some of the many disasters happening in cryptocurrency, decentralized finance, NFTs, and other blockchain-based projects. She recently launched Tech Influence Watch which tracks campaign donations from crypto, AI companies and their executives this election cycle.

 

Can the Fed Chairman and the Secretary of the Treasury Do Their Job at the Same Time Please Their Boss’s Economic Idiocy?

Then with the Fed Chairman trying to do his job at the same time please his boss, which given Trump’s economic idiocy and fixation on tariffs and lowering interest rates is impossible, a fix that Treasury Secretary Bessent is also in, we examine how frail our economy really is and how the Wall Street and Silicon Valley billionaires are riding a crypto AI wave just like in the Roaring 20s before the bubble burst. Joining us is Pavlina Tcherneva, a Professor of Economics at Bard College and the President of the Levy Economics Institute. She is also the co-editor of Full Employment and Price Stability: The Macroeconomic Vision and her latest book is The Case for a Job Guarantee.

As The CIA Director Warns Putin Not to Take Advantage of U.S. Munitions Shortages, Europe Moves Away From Dependence on American Weapons and Security Guarantees

Then finally, with the CIA Director apparently warning Putin not to take advantage of America’s weapons shortages as the Europeans begin to shift away from their dependence on U.S. weapons and security guarantees, we speak with Jennifer Kavanagh, a senior fellow & director of military analysis at Defense Priorities. Her research focuses on U.S. military strategy, force structure and defense budgeting, the defense industrial base, and U.S. military deployments and interventions. Previously, she was a senior fellow in the American Statecraft Program at the Carnegie Endowment for International Peace and we discuss her article at Foreign Affairs, “Leave Europe to the Europeans: The Case for a U.S. Military Drawdown.”