Elon Musk, who chairs the Department of Government Efficiency (DOGE) under Donald Trump’s administration, criticized NED on his social media platform X , calling it a “scam” that’s “rife with corruption.”

The National Endowment for Democracy (NED) is a U.S.-funded nonprofit organization established in 1983.

NED was created during the Reagan administration to promote democratic institutions such as free press, trade unions and political parties, initially focusing on Eastern Europe under Soviet influence.

It was a key component of Reagan’s “Project Democracy,” which aimed to counter socialist regimes by exporting U.S.-style governance.

But critics argue that NED has evolved into a tool for U.S. influence, often accused of facilitating regime change in politically adversarial and even allied nations.

Your Rundown for Wednesday, February 12, 2025...

DOGE vs. Deep-State Agent of Regime Change

The organization has faced allegations of acting as a “soft-power arm of the CIA,” with its activities resembling covert operations previously conducted by intelligence agencies.

Allen Weinstein, one of NED’s founders, admitted in 1991 that much of what NED has done openly was done covertly by the CIA decades earlier.

NED’s critics further claim it operates as part of a broader “censorship industrial complex,” funding media outlets and political movements aligned with progressive agendas while discrediting opponents.

And NED’s operations have drawn international backlash…

• China sanctioned NED in 2019, accusing it of meddling in Hong Kong elections.
• Georgia’s parliamentary chairman alleged that NED funded anti-government media to destabilize the country.
• Serbia accused NED of supporting anti-government protests to set the stage for a color revolution.

During the 2004 Orange Revolution in Ukraine, for instance, NED provided $65 million to support the Ukrainian opposition, contributing to the annulment of the initial election results and the subsequent victory of pro-Western candidate Viktor Yushchenko in a second runoff election.

These incidents underscore allegations that NED often undermines even democratically-elected governments — whether you agree with their politics or not — under the guise of promoting democracy.

Musk’s criticism of NED is part of his broader agenda as head of DOGE, which aims to reduce federal bureaucracy and spending.

DOGE has targeted agencies like USAID (U.S. Agency for International Development), which Musk labels “beyond repair” and a “criminal organization.”

This move aligns with his broader push to challenge what he perceives as entrenched corruption within U.S.-funded institutions.

And Musk’s critique has reignited debate about NED’s role in U.S. foreign policy.

• While supporters argue that NED promotes global democracy and human rights, detractors view it as a deep-state mechanism for advancing U.S. geopolitical interests through regime change.

Musk’s anti-regime change stance challenges the traditional narrative surrounding democracy-promoting efforts, raising questions about their transparency and ethical implications.

As part of his broader initiative to reduce federal spending, Musk has invited X users to compile a list of NED's alleged misdeeds, potentially using this crowdsourced information to justify dismantling or significantly altering the organization's operations.

Market Rundown for Wednesday, Feb. 12, 2025

S&P 500 futures are flat at 6,090.

Oil is down 1% to $72.64 for a barrel of WTI.

Gold is down 1.10% to $2,900 per ounce.

And Bitcoin is down 0.50%, under $95k.