1 00:00:00,320 --> 00:00:02,680 Speaker 1: Good afternoon, getting right down to business here. We're doing 2 00:00:02,720 --> 00:00:06,080 Speaker 1: it live, doing more at four weekday afternoons. Motech on 3 00:00:06,160 --> 00:00:09,000 Speaker 1: Money Live on the Earth seven ninety KBC streaming live 4 00:00:09,080 --> 00:00:13,159 Speaker 1: online worldwide ATKBC dot com. The on demand Motech of 5 00:00:13,200 --> 00:00:16,520 Speaker 1: Money podcast KBC dot Com, Apple iTunes, all your favorite 6 00:00:16,560 --> 00:00:21,079 Speaker 1: podcast platforms. Bigs finish for stocks today, with the SMP 7 00:00:21,239 --> 00:00:24,400 Speaker 1: five hundred extending its losing streak and the price of 8 00:00:24,440 --> 00:00:27,880 Speaker 1: oil hitting the highest we've seen since twenty twenty two 9 00:00:28,040 --> 00:00:31,680 Speaker 1: following Russia's invasion of Ukraine. Looks like prospects of a 10 00:00:31,720 --> 00:00:34,440 Speaker 1: ground war in the Middle East, dimming hopes for a 11 00:00:34,479 --> 00:00:37,000 Speaker 1: near term end to the conflict, and we saw the 12 00:00:37,000 --> 00:00:39,240 Speaker 1: price of oil settle above one hundred dollars a barrel 13 00:00:39,280 --> 00:00:42,280 Speaker 1: for the first time since July of twenty twenty two. 14 00:00:42,600 --> 00:00:45,720 Speaker 1: Stocks racking up weeks of losses now since the first 15 00:00:45,800 --> 00:00:48,800 Speaker 1: attack on a run occurred at the end of February eight, 16 00:00:48,880 --> 00:00:50,519 Speaker 1: and the s and P five hundred is now on 17 00:00:50,560 --> 00:00:53,840 Speaker 1: track for its worst month since September of twenty twenty two. 18 00:00:53,880 --> 00:00:56,200 Speaker 1: There now coming in for a closing game today of 19 00:00:56,280 --> 00:00:59,160 Speaker 1: forty nine points. The SMP five hundred slip twenty five 20 00:00:59,240 --> 00:01:02,440 Speaker 1: the NASDAK down one hundred and fifty four points, the 21 00:01:02,520 --> 00:01:05,400 Speaker 1: S and P five hundred down for a third straight session, 22 00:01:06,040 --> 00:01:10,720 Speaker 1: closing again lower today. The Nasdaq Composite also giving back 23 00:01:11,120 --> 00:01:14,280 Speaker 1: nearly one percent today. Hopes of a cease fire with 24 00:01:14,319 --> 00:01:17,040 Speaker 1: Iran fading, with more US troops arriving in the Middle 25 00:01:17,040 --> 00:01:19,720 Speaker 1: East and Yemen's hutis now joining the war. The Wall 26 00:01:19,720 --> 00:01:23,240 Speaker 1: Street Journal reports President Trump is weighing a military operation 27 00:01:23,400 --> 00:01:27,800 Speaker 1: to its extract Iran's uranium. I'll discuss these dramatic developments 28 00:01:27,880 --> 00:01:31,640 Speaker 1: with retired US Marine Corps Lieutenant Colonel Hal Kemphert, retired 29 00:01:31,720 --> 00:01:35,039 Speaker 1: US Marine Corps intelligence officer, national security analysts and hosts 30 00:01:35,040 --> 00:01:38,480 Speaker 1: of the Strat podcast based right here in southern California. 31 00:01:38,880 --> 00:01:41,360 Speaker 1: Colonel Kempfort will be joining me live later this hour. 32 00:01:41,920 --> 00:01:44,960 Speaker 1: Investors meanwhile racing for what comes next, as The Wall 33 00:01:44,959 --> 00:01:47,520 Speaker 1: Street Journal notes a possible one two punch of higher 34 00:01:47,560 --> 00:01:51,080 Speaker 1: oil prices and higher for longer interest rates. The Fedchairman 35 00:01:51,520 --> 00:01:54,160 Speaker 1: said today in a speech at Harvard that the FED 36 00:01:54,240 --> 00:01:56,440 Speaker 1: is inclined to hold rate steady and look past the 37 00:01:56,560 --> 00:01:59,040 Speaker 1: energy shock from the war in Iran, but cautions that 38 00:01:59,080 --> 00:02:00,880 Speaker 1: it might not be able to see on the sidelines 39 00:02:00,880 --> 00:02:05,559 Speaker 1: of rising prices shift the poplic's expectations about inflation over time, 40 00:02:06,520 --> 00:02:09,560 Speaker 1: price of gold slipping a bit down nearly sixteen dollars 41 00:02:09,680 --> 00:02:12,040 Speaker 1: right now, forty five hundred and forty one in chained 42 00:02:12,040 --> 00:02:16,640 Speaker 1: silver is just above seventy dollars in ounce. Bond yields 43 00:02:16,639 --> 00:02:19,079 Speaker 1: falling around the world as traders shift their focus from 44 00:02:19,080 --> 00:02:21,320 Speaker 1: the inflationary effects of the war to its impact on 45 00:02:21,400 --> 00:02:23,920 Speaker 1: economic growth. We did see the yield and the tenure 46 00:02:23,960 --> 00:02:27,880 Speaker 1: note to slip to four point three six percent today. 47 00:02:28,240 --> 00:02:31,560 Speaker 1: President Trump saying the US would destroy Iran's energy sites 48 00:02:31,800 --> 00:02:34,400 Speaker 1: if discussions with a new and more reasonable regime did 49 00:02:34,480 --> 00:02:36,239 Speaker 1: not amount to a deal in the reopening of the 50 00:02:36,280 --> 00:02:39,880 Speaker 1: Strait of Hormuz. President posted his comments on social media 51 00:02:40,080 --> 00:02:43,080 Speaker 1: after Iran said it considered the US's fifteen point piece 52 00:02:43,120 --> 00:02:47,120 Speaker 1: plan to be largely made up of quote excessive, unrealistic, 53 00:02:47,200 --> 00:02:52,120 Speaker 1: and unreasonable demands. The Israeli military meanwhile says it struct 54 00:02:52,160 --> 00:02:56,359 Speaker 1: military sites to Tehran's Imam Hossain University and near the 55 00:02:56,440 --> 00:02:59,720 Speaker 1: Capsi in Sea. Israel's largest oil refinery was hit by 56 00:02:59,720 --> 00:03:02,520 Speaker 1: a and missile while a military air base at the 57 00:03:02,520 --> 00:03:09,560 Speaker 1: Bagdad International Airport in Iraq was struck by rockets. Taking 58 00:03:09,560 --> 00:03:12,480 Speaker 1: a look at the cryptos, they came under pressure over 59 00:03:12,520 --> 00:03:14,840 Speaker 1: the weekend. Right now we see bitcoin huvering it around 60 00:03:14,880 --> 00:03:20,000 Speaker 1: sixty six seven eighth Ethereum at twenty twenty nine doze 61 00:03:20,040 --> 00:03:25,120 Speaker 1: at the moment at nine cents. The White House says 62 00:03:25,160 --> 00:03:27,680 Speaker 1: the President is encouraging members of Congress to return to 63 00:03:27,800 --> 00:03:30,600 Speaker 1: Washington to fully fund the Department of Homeland Security as 64 00:03:30,639 --> 00:03:34,400 Speaker 1: we see chaotic situations continuing some of the nation's airports. 65 00:03:34,440 --> 00:03:37,480 Speaker 1: The funding lapse of the Department of Homeland Security cross 66 00:03:37,560 --> 00:03:40,160 Speaker 1: into new territory over the weekend when it became the 67 00:03:40,200 --> 00:03:44,320 Speaker 1: longest partial government shutdown in US history. And Senate Republicans 68 00:03:44,400 --> 00:03:47,560 Speaker 1: now working on a budget reconciliation package that could pass 69 00:03:47,600 --> 00:03:50,000 Speaker 1: without any Democrats support and would fund the Department of 70 00:03:50,000 --> 00:03:54,280 Speaker 1: Homeland Security for the next three years, and that tax 71 00:03:54,680 --> 00:03:57,960 Speaker 1: days coming April fifteenth. Tech companies are working to understand 72 00:03:57,960 --> 00:04:01,120 Speaker 1: how provisions and the one big beautiful bill will impact them. 73 00:04:01,120 --> 00:04:03,800 Speaker 1: Other companies, of course, trying to figure things out. I'll 74 00:04:03,800 --> 00:04:06,240 Speaker 1: discuss all of that later this hour with Grover Norquiz, 75 00:04:06,320 --> 00:04:09,800 Speaker 1: the President of Americans for Tax Reform, But first on 76 00:04:09,840 --> 00:04:12,160 Speaker 1: your money. The markets, the economy and the whole works 77 00:04:12,160 --> 00:04:15,760 Speaker 1: now joining us live top rank money manager Ken Widens, President, 78 00:04:15,880 --> 00:04:19,360 Speaker 1: Chief Investment Officer at Winans Investments at Winensinvestments dot com. 79 00:04:19,400 --> 00:04:22,599 Speaker 1: Ken Winen's also a market historian, author of numerous books, 80 00:04:22,640 --> 00:04:26,000 Speaker 1: his latest investment Atlas three, also a Forbes magazine contributor, 81 00:04:26,360 --> 00:04:29,279 Speaker 1: also as his Crypto credentials, and hosts of the Winning 82 00:04:29,320 --> 00:04:33,520 Speaker 1: with Winings podcasts seen worldwide nowadays out of Las Vegas 83 00:04:33,880 --> 00:04:36,599 Speaker 1: and also here on the seven ninety KBC with the 84 00:04:36,920 --> 00:04:39,599 Speaker 1: Winning with Winings and Minutes that you've been hearing for 85 00:04:39,680 --> 00:04:41,479 Speaker 1: quite some time now. Ken, It's always great to have 86 00:04:41,560 --> 00:04:43,400 Speaker 1: you with us year. Thank you very much for taking 87 00:04:43,400 --> 00:04:44,840 Speaker 1: the call live of this year this afternoon. 88 00:04:46,080 --> 00:04:48,560 Speaker 2: Well my pleasure, Frank, and it was very much is 89 00:04:48,640 --> 00:04:51,599 Speaker 2: as you pointed out, my friend, a very very mixed day. 90 00:04:52,120 --> 00:04:55,000 Speaker 2: And way I mean by that is, yes, there's no 91 00:04:55,080 --> 00:04:58,280 Speaker 2: doubt that especially the tech sector was by believe it 92 00:04:58,320 --> 00:05:01,240 Speaker 2: or not, the worst sector today as I called the 93 00:05:01,360 --> 00:05:04,160 Speaker 2: old texts, which you would also include a lot of 94 00:05:04,200 --> 00:05:06,520 Speaker 2: the Nasdaq. It was down nearly two and a half 95 00:05:06,560 --> 00:05:10,080 Speaker 2: percent today in industrials for the second worstcript and believe 96 00:05:10,080 --> 00:05:13,560 Speaker 2: it or not, even though the price accrued generally is 97 00:05:13,600 --> 00:05:16,560 Speaker 2: in an up trend. Energy stocks are down today, but 98 00:05:16,640 --> 00:05:20,680 Speaker 2: then on the flip side the oddest combination, which our 99 00:05:20,839 --> 00:05:25,320 Speaker 2: finance stocks were up today, and again utility socks continue 100 00:05:25,360 --> 00:05:28,159 Speaker 2: to power ahead. And then I would just say, looking 101 00:05:28,200 --> 00:05:30,200 Speaker 2: at it as I always do, I take a good 102 00:05:30,240 --> 00:05:35,760 Speaker 2: look at commodities, and again generally speaking, you're looking at 103 00:05:36,080 --> 00:05:40,799 Speaker 2: a pretty good situation, especially for our farmers in the Midwest, 104 00:05:41,200 --> 00:05:46,479 Speaker 2: as soybean prices continue to good higher catalyst stable. You're 105 00:05:46,560 --> 00:05:49,080 Speaker 2: just you know, sugar, you just go down the crops. 106 00:05:49,360 --> 00:05:53,239 Speaker 2: They're looking pretty good, Franks. So as you said, mixed bag, 107 00:05:53,400 --> 00:05:54,120 Speaker 2: it's very much. 108 00:05:54,040 --> 00:05:55,120 Speaker 3: A mixed bag, all right. 109 00:05:55,120 --> 00:05:57,400 Speaker 1: The headline today, of course, on the price of oil 110 00:05:57,400 --> 00:05:59,400 Speaker 1: in New York above one hundred dollars a barrel for 111 00:05:59,400 --> 00:06:01,800 Speaker 1: the first time since twenty twenty two, and of course 112 00:06:01,839 --> 00:06:04,320 Speaker 1: a bren CREWD has been hovering above that for some time. 113 00:06:05,040 --> 00:06:07,560 Speaker 1: I know you were just in southern California recently and 114 00:06:07,720 --> 00:06:10,400 Speaker 1: saw the gas prices here which are absolutely eye popping, 115 00:06:10,440 --> 00:06:14,680 Speaker 1: diesel at record highs here. What about that? And now 116 00:06:14,720 --> 00:06:18,280 Speaker 1: the FED chair of chiming in on inflation, possibly now 117 00:06:18,400 --> 00:06:22,080 Speaker 1: changing the Fed's plans on interest rates zoom out and 118 00:06:22,120 --> 00:06:23,760 Speaker 1: give us your view of the big picture here. 119 00:06:25,000 --> 00:06:27,080 Speaker 2: Well, here's the and this is something that is very 120 00:06:27,080 --> 00:06:29,800 Speaker 2: interesting because everybody seems to be hovering. And I'm hearing 121 00:06:29,800 --> 00:06:33,040 Speaker 2: the term stagflation yet again, which is a term they 122 00:06:33,160 --> 00:06:36,800 Speaker 2: used back in the late seventies early eighties to describe 123 00:06:37,160 --> 00:06:41,680 Speaker 2: slowing economy with inflation. There's one big difference. Back then, 124 00:06:41,760 --> 00:06:44,920 Speaker 2: the dollar was getting creamed. The dollar took a huge 125 00:06:44,960 --> 00:06:47,840 Speaker 2: hit through the nineteen seventies. The dollar is actually very 126 00:06:47,880 --> 00:06:50,200 Speaker 2: stable right now. In fact, it's up on the ear 127 00:06:50,360 --> 00:06:53,960 Speaker 2: So for those people trying to somehow fit this thing 128 00:06:54,000 --> 00:06:57,080 Speaker 2: into the perfect box, it's not going to fit that way. 129 00:06:57,480 --> 00:07:00,880 Speaker 2: Now again, looking at the broader picture, I do think 130 00:07:01,120 --> 00:07:05,000 Speaker 2: that as we go into earning season starting this next month, 131 00:07:05,560 --> 00:07:08,840 Speaker 2: we're going to really want to watch the transportation stocks. 132 00:07:09,120 --> 00:07:12,080 Speaker 2: Now you mentioned diesel, Frank, you know, whether you're talking 133 00:07:12,120 --> 00:07:16,600 Speaker 2: about I know, Californy's trying to get you know, trucking 134 00:07:16,760 --> 00:07:20,000 Speaker 2: into the ed world. That's not anything in the near future. 135 00:07:20,360 --> 00:07:23,760 Speaker 2: They still run on diesel. Most trains at carry freight 136 00:07:24,160 --> 00:07:26,680 Speaker 2: they run on diesel. So we're in you know, ships 137 00:07:26,680 --> 00:07:29,680 Speaker 2: for that matter run on diesel. So again we're going 138 00:07:29,760 --> 00:07:34,120 Speaker 2: to want to see how the transportation companies begin to 139 00:07:34,320 --> 00:07:36,760 Speaker 2: give well, you know, and for that matter, you're gonna 140 00:07:36,760 --> 00:07:39,679 Speaker 2: have to throw airline fuel in there too, although not diesel, 141 00:07:39,920 --> 00:07:43,480 Speaker 2: but a variant. Again, when you take all those transportation 142 00:07:43,600 --> 00:07:46,560 Speaker 2: stocks and you go into earning season, I think that's 143 00:07:46,560 --> 00:07:49,240 Speaker 2: going to be the tailtale sign of where we go 144 00:07:49,360 --> 00:07:51,560 Speaker 2: for the rest of the year with the economy. And 145 00:07:51,720 --> 00:07:54,520 Speaker 2: I'm sure there's gonna probably be some mixed picture there, 146 00:07:54,520 --> 00:07:56,520 Speaker 2: but I still think that's what you're gonna want to 147 00:07:56,560 --> 00:07:58,680 Speaker 2: wait and see going into earning season. 148 00:07:59,080 --> 00:08:02,920 Speaker 1: They're live with money manager Ken Widens. We see the 149 00:08:02,960 --> 00:08:05,600 Speaker 1: price of gold has come under pressure lately, a bitcoin 150 00:08:05,920 --> 00:08:09,280 Speaker 1: joining the party on the on the lower side again 151 00:08:09,320 --> 00:08:12,680 Speaker 1: today a bitcoin having around sixty six seven hundred or so, 152 00:08:12,760 --> 00:08:16,080 Speaker 1: a gold back just about forty five hundred. What are 153 00:08:16,080 --> 00:08:19,080 Speaker 1: your thoughts about the moves in analog gold and so 154 00:08:19,160 --> 00:08:21,800 Speaker 1: called digital gold here now, Well, you know. 155 00:08:21,920 --> 00:08:25,160 Speaker 2: It's really interesting the medals are trying to bottom out, 156 00:08:25,160 --> 00:08:28,960 Speaker 2: because especially today, platinum actually was stable. Today we've actually 157 00:08:29,000 --> 00:08:31,840 Speaker 2: moved up. I think that again there's some people starting 158 00:08:31,880 --> 00:08:34,720 Speaker 2: to say, you know, I'm going to start putting my 159 00:08:34,840 --> 00:08:37,120 Speaker 2: toe in the water again with the metals, and you 160 00:08:37,240 --> 00:08:39,959 Speaker 2: have to remember it was, as we say in commodities, 161 00:08:39,960 --> 00:08:43,240 Speaker 2: it was a very crowded trade, you know, earlier this 162 00:08:43,360 --> 00:08:46,120 Speaker 2: year with gold and silver, and of course silver hit 163 00:08:46,160 --> 00:08:49,120 Speaker 2: some crazy levels and a lot of people now are 164 00:08:49,120 --> 00:08:52,240 Speaker 2: trying to assess what to do. Now. I just would 165 00:08:52,280 --> 00:08:56,440 Speaker 2: say this that, you know, the dollar being stabled allows 166 00:08:56,480 --> 00:09:00,160 Speaker 2: the US investors to not feel compelled that they have 167 00:09:00,200 --> 00:09:02,280 Speaker 2: to load upon gold. But there's a lot of gold 168 00:09:02,320 --> 00:09:05,400 Speaker 2: being sold around the world. I'm talking to my commodity people. 169 00:09:05,440 --> 00:09:07,559 Speaker 2: They tell me, especially in the Middle East, if these 170 00:09:07,600 --> 00:09:10,120 Speaker 2: guys cannot sell their oil, they got to sell their 171 00:09:10,120 --> 00:09:13,520 Speaker 2: gold reserves, and that's putting some pressure. There was also 172 00:09:13,559 --> 00:09:16,280 Speaker 2: a really interesting report out that what the state of 173 00:09:16,320 --> 00:09:20,680 Speaker 2: Wyoming was actually stockpiling gold, and I rumor has that 174 00:09:20,720 --> 00:09:22,920 Speaker 2: other states We're looking at that as well, but I 175 00:09:22,960 --> 00:09:25,440 Speaker 2: think a lot of that has been neutralized as well. 176 00:09:25,760 --> 00:09:30,000 Speaker 2: Switching to crypto, you know, everybody can argue and discuss 177 00:09:30,360 --> 00:09:35,280 Speaker 2: these very strange relationships, but the NASDAC and bitcoin are 178 00:09:35,320 --> 00:09:39,480 Speaker 2: in some weird way digital cousins. And as long as 179 00:09:39,559 --> 00:09:42,640 Speaker 2: tech stays under pressure, I have a very tough time 180 00:09:42,760 --> 00:09:46,640 Speaker 2: saying that bitcoin is going to mount a really powerful rally. 181 00:09:46,640 --> 00:09:48,520 Speaker 2: Now I'm not saying it's going to keep going down. 182 00:09:48,840 --> 00:09:51,719 Speaker 2: I do think it's getting over sold. But I think 183 00:09:51,760 --> 00:09:54,440 Speaker 2: you're going to have to have the tech sector completely reverse. 184 00:09:54,920 --> 00:09:57,000 Speaker 2: And I just don't see that until we get the 185 00:09:57,040 --> 00:10:00,360 Speaker 2: earnings out, Frank and see what's going on there do 186 00:10:00,400 --> 00:10:00,760 Speaker 2: all of that. 187 00:10:01,040 --> 00:10:04,760 Speaker 1: Then there's this thing in the background with private credit 188 00:10:05,160 --> 00:10:08,520 Speaker 1: concerns about another possible financial crisis. And if you saw 189 00:10:08,559 --> 00:10:10,600 Speaker 1: that right up in the Waltree Journal over the weekend, 190 00:10:10,679 --> 00:10:14,520 Speaker 1: is another financial crisis lurking in private credit. For those 191 00:10:14,559 --> 00:10:17,040 Speaker 1: with long memories, news that some private credit funds have 192 00:10:17,120 --> 00:10:19,560 Speaker 1: capped withdrawals brings to mind the summer of two thousand 193 00:10:19,559 --> 00:10:22,600 Speaker 1: and seven when a European bank limited withdrawals from fund 194 00:10:22,640 --> 00:10:25,720 Speaker 1: stuff with securities linked to sub private mortgages, and the 195 00:10:25,760 --> 00:10:28,760 Speaker 1: global financial crisis, which seem to have come out of nowhere, 196 00:10:29,160 --> 00:10:32,360 Speaker 1: had begun. How serious is this and what is your 197 00:10:32,360 --> 00:10:34,439 Speaker 1: assessment about this buzz about private credit? 198 00:10:35,760 --> 00:10:38,440 Speaker 2: Well, here's the thing, because I do you know certainly 199 00:10:38,440 --> 00:10:40,880 Speaker 2: one in his investments, we manage a lot of corporate 200 00:10:40,920 --> 00:10:44,240 Speaker 2: bonds and preferred shares. I was managing money back in 201 00:10:44,280 --> 00:10:48,000 Speaker 2: two thousand and seven. I do remember especially bank preferred 202 00:10:48,040 --> 00:10:51,960 Speaker 2: stocks were just absolutely getting creamed, and everybody and their 203 00:10:52,000 --> 00:10:55,000 Speaker 2: mother was trying to say, why are the preferreds of 204 00:10:55,120 --> 00:10:58,199 Speaker 2: Lehman Brothers and beer Sterns under pressure? Well we found 205 00:10:58,200 --> 00:11:02,160 Speaker 2: out later why that's not happening here, Frank. The preferred 206 00:11:02,200 --> 00:11:05,320 Speaker 2: stocks are generally speaking, slightly down on the year, but 207 00:11:05,400 --> 00:11:11,040 Speaker 2: still paying nice yields, and bonds that generally trade or 208 00:11:11,040 --> 00:11:15,160 Speaker 2: shall we say, publicly traded companies that have corporate bonds, 209 00:11:15,559 --> 00:11:19,200 Speaker 2: those have been very stable throughout this entire year. So 210 00:11:19,240 --> 00:11:22,240 Speaker 2: when you start talking about private credit, the big difference 211 00:11:22,280 --> 00:11:24,600 Speaker 2: is we're not talking about mortgages again, and the mortgage 212 00:11:24,640 --> 00:11:27,280 Speaker 2: market back in two thousand and seven, eight and nine, 213 00:11:27,440 --> 00:11:32,040 Speaker 2: that was a massive, massive market. The private credit market, 214 00:11:32,200 --> 00:11:36,200 Speaker 2: although is sizable, doesn't have the same oath that the 215 00:11:36,240 --> 00:11:39,320 Speaker 2: mortgages would do. So I think again, I know that 216 00:11:39,360 --> 00:11:41,720 Speaker 2: a lot of people were told by their wealth managers 217 00:11:41,720 --> 00:11:44,160 Speaker 2: and financial planners they've got to go into what they 218 00:11:44,720 --> 00:11:49,400 Speaker 2: like to call alts alternative investments. And again here's an example, 219 00:11:49,480 --> 00:11:53,080 Speaker 2: tragically of some people probably going into these areas that 220 00:11:53,160 --> 00:11:56,720 Speaker 2: didn't understand that liquidity does matter, and now they can't 221 00:11:56,720 --> 00:11:58,960 Speaker 2: get out. You're going to have a couple more of 222 00:11:59,000 --> 00:12:01,920 Speaker 2: these situations with these private funds, but I think all 223 00:12:01,920 --> 00:12:05,079 Speaker 2: in all, it will shake itself out. But Frank, you know, 224 00:12:05,360 --> 00:12:07,000 Speaker 2: I want to switch heres for real quick because I 225 00:12:07,000 --> 00:12:09,800 Speaker 2: think the other big story in the news and everybody's 226 00:12:09,800 --> 00:12:12,400 Speaker 2: better start thinking long and hard about this is this 227 00:12:12,720 --> 00:12:15,840 Speaker 2: idea of the S and P five hundred and the 228 00:12:15,960 --> 00:12:22,079 Speaker 2: Nasdaq through the crypto mechanisms trading seven days a week, 229 00:12:22,520 --> 00:12:25,440 Speaker 2: twenty four hours a day. And when the reason I 230 00:12:25,480 --> 00:12:26,920 Speaker 2: bring it up is because I think some of the 231 00:12:27,000 --> 00:12:30,080 Speaker 2: volatility we're seeing an increase in volatility, you better start 232 00:12:30,080 --> 00:12:33,560 Speaker 2: thinking about this pre nineteen eighty seven, before we had 233 00:12:33,600 --> 00:12:37,400 Speaker 2: the big crash. Back then, the market had no circuit breakers. 234 00:12:37,600 --> 00:12:39,520 Speaker 2: It means there was no way to shut it down. 235 00:12:40,320 --> 00:12:42,840 Speaker 2: If we go into this world, I fear we're going 236 00:12:42,880 --> 00:12:45,600 Speaker 2: to enter that same world where you know, because the 237 00:12:45,640 --> 00:12:48,680 Speaker 2: markets that now in the SMP can only move so 238 00:12:48,840 --> 00:12:52,960 Speaker 2: much before the market can't actually shut itself down. We're 239 00:12:53,640 --> 00:12:55,960 Speaker 2: we're landing the world of not having that again. And 240 00:12:56,040 --> 00:12:58,719 Speaker 2: if there's an area that could cause some volatility through 241 00:12:58,720 --> 00:13:01,920 Speaker 2: this year is if this begins to take hold, you 242 00:13:01,960 --> 00:13:06,240 Speaker 2: could see some very weird weekend trades that could cause 243 00:13:06,360 --> 00:13:09,680 Speaker 2: additional volatility. I'm not trying to scare everybody, but it 244 00:13:09,760 --> 00:13:11,840 Speaker 2: is our job to look ahead and if there's an 245 00:13:11,840 --> 00:13:14,200 Speaker 2: area that the regulators really need to jump in on, 246 00:13:14,520 --> 00:13:15,840 Speaker 2: this is one of those areas. 247 00:13:16,040 --> 00:13:17,920 Speaker 1: See you tonight, read about it tomorrow, but here at 248 00:13:17,920 --> 00:13:19,680 Speaker 1: now in motech on Money Live on the air with 249 00:13:19,720 --> 00:13:22,840 Speaker 1: Tom Rank, Money manager Ken Widens. And of course, exciting 250 00:13:22,920 --> 00:13:27,559 Speaker 1: time for space with the SpaceX IPO expected soon. And now, 251 00:13:27,760 --> 00:13:29,240 Speaker 1: I don't know if you saw this headline that just 252 00:13:29,280 --> 00:13:32,559 Speaker 1: came across today out of the Reuters News service, star 253 00:13:32,720 --> 00:13:35,880 Speaker 1: Cloud reaches one point one billion dollar valuation as the 254 00:13:35,920 --> 00:13:39,880 Speaker 1: AI space race heats up. As they noted, it's companies 255 00:13:39,880 --> 00:13:43,520 Speaker 1: including Elon, mus SpaceX and Jeff Bezos's Blue Origin race 256 00:13:43,559 --> 00:13:46,920 Speaker 1: to move power hungry AI data centers off the planet. 257 00:13:47,280 --> 00:13:49,920 Speaker 1: A lot of exciting things happening that are seem to 258 00:13:49,960 --> 00:13:52,480 Speaker 1: be out of this world here you Ken, Well. 259 00:13:52,360 --> 00:13:54,720 Speaker 2: Yes, Frank, And of course I'm excited about the idea 260 00:13:54,720 --> 00:13:56,840 Speaker 2: that we might have some asternis are orbiting the mood again. 261 00:13:56,960 --> 00:13:59,440 Speaker 2: That's coming up here pretty soon too, yep. I mean 262 00:13:59,480 --> 00:14:01,520 Speaker 2: there's a lot of fun things like that. And you 263 00:14:01,559 --> 00:14:04,000 Speaker 2: know there's an example too of there's a lot of 264 00:14:04,040 --> 00:14:07,280 Speaker 2: positives out in the world right now that typically take 265 00:14:07,559 --> 00:14:09,559 Speaker 2: a backseat, and I hate to say it, a lot 266 00:14:09,559 --> 00:14:12,720 Speaker 2: of it's because of politics, and especially being a mid 267 00:14:12,840 --> 00:14:15,280 Speaker 2: term election year, a lot of people are trying to 268 00:14:15,679 --> 00:14:17,199 Speaker 2: you know, depending on what side of the aisle on 269 00:14:17,320 --> 00:14:20,320 Speaker 2: you're trying to look for news that sells your agenda. 270 00:14:20,400 --> 00:14:23,560 Speaker 2: But with that being said, yes, these companies are continuing 271 00:14:23,560 --> 00:14:26,240 Speaker 2: to move forward, they're looking ahead. But you and I 272 00:14:26,280 --> 00:14:28,680 Speaker 2: know data centers in space that's not going to happen 273 00:14:28,720 --> 00:14:31,880 Speaker 2: for quite a while. It's awfully crowded in orbit. You've 274 00:14:31,880 --> 00:14:34,120 Speaker 2: got to watch out for space debris. You've got to 275 00:14:34,160 --> 00:14:37,600 Speaker 2: watch out for you know, space stations banging into each other. 276 00:14:37,440 --> 00:14:38,040 Speaker 4: So to speak. 277 00:14:38,440 --> 00:14:41,120 Speaker 2: Very bad joke. But with that being said, Frank, there's 278 00:14:41,120 --> 00:14:44,960 Speaker 2: still a lot of interesting things in aerospace, and that's 279 00:14:45,000 --> 00:14:46,600 Speaker 2: one of the reasons that a lot of the aerospace 280 00:14:46,600 --> 00:14:48,440 Speaker 2: stocks actually have done pretty well. 281 00:14:49,040 --> 00:14:52,120 Speaker 1: Anything else that's caught your attention lately, and I'll just 282 00:14:52,640 --> 00:14:55,040 Speaker 1: ask the big question here now, any specific places where 283 00:14:55,040 --> 00:14:57,520 Speaker 1: you are putting money now in or taking off the table? 284 00:14:58,680 --> 00:15:02,520 Speaker 2: You know what's blowing my mind? And it usually, again, 285 00:15:02,600 --> 00:15:04,880 Speaker 2: if you try to follow the logic of markets weakening 286 00:15:04,960 --> 00:15:08,240 Speaker 2: and all this talk of inflation and consumers under pressure. 287 00:15:08,640 --> 00:15:11,520 Speaker 2: I am still completely blown away how well the retail 288 00:15:11,560 --> 00:15:15,680 Speaker 2: stocks are doing. Whether you're talking about TJX, Walmart or 289 00:15:15,720 --> 00:15:19,200 Speaker 2: one of my favorites, Casey's General Stores. Who would guess 290 00:15:19,360 --> 00:15:24,840 Speaker 2: Walmart is up eleven percent this year. This is a retailer. 291 00:15:25,160 --> 00:15:28,920 Speaker 2: So again I question all this talk about how bad 292 00:15:28,960 --> 00:15:32,040 Speaker 2: the consumers are off right now. Clearly this is not 293 00:15:32,080 --> 00:15:34,000 Speaker 2: seeing it. And I will tell you that I think 294 00:15:34,080 --> 00:15:36,840 Speaker 2: part of this is because some of those refunds, those 295 00:15:36,880 --> 00:15:39,760 Speaker 2: tax refunds that were supposed to come with a big 296 00:15:39,800 --> 00:15:42,920 Speaker 2: beautiful bill, they're going to kick in just in the 297 00:15:43,000 --> 00:15:46,000 Speaker 2: nicke of time. And for a lot of California's especially 298 00:15:46,240 --> 00:15:49,800 Speaker 2: those salt deductions are back in. That all gives people 299 00:15:49,920 --> 00:15:53,520 Speaker 2: money to go spend, especially as we start going into 300 00:15:53,600 --> 00:15:56,320 Speaker 2: the springtime. So I think that's a positive. But frank 301 00:15:56,560 --> 00:16:00,720 Speaker 2: final point, I think this again, people who just bottened 302 00:16:00,760 --> 00:16:04,000 Speaker 2: ETFs bought into they just tried to do sectors and 303 00:16:04,040 --> 00:16:06,920 Speaker 2: all that. That does not work in this kind of market. 304 00:16:07,120 --> 00:16:09,280 Speaker 2: You've got to dust off the playbook. You've got to 305 00:16:09,320 --> 00:16:12,640 Speaker 2: become a stock investor, not an ETF investor. If you 306 00:16:12,680 --> 00:16:15,600 Speaker 2: want twenty twenty six to be a good year for you. 307 00:16:15,880 --> 00:16:17,880 Speaker 1: All right, what are your thoughts on oil? With the 308 00:16:17,880 --> 00:16:20,040 Speaker 1: oil back above one hundred barrel here now and a 309 00:16:20,040 --> 00:16:22,480 Speaker 1: lot of uncertainty as to where things go up from here? 310 00:16:24,120 --> 00:16:26,080 Speaker 2: You know, I think you have to have energy in 311 00:16:26,120 --> 00:16:28,840 Speaker 2: your portfolio. I mean, and again I'm going to say 312 00:16:29,000 --> 00:16:34,080 Speaker 2: energy being natural resources and also metals. I think again, 313 00:16:34,200 --> 00:16:37,880 Speaker 2: I keep running into people that they were very tech 314 00:16:37,920 --> 00:16:41,080 Speaker 2: heavy coming out of twenty twenty five. They can't. You know, 315 00:16:41,120 --> 00:16:43,360 Speaker 2: I love it when a losing trade now becomes a 316 00:16:43,360 --> 00:16:46,800 Speaker 2: good long term investment. That's nonsense that you know. You're 317 00:16:46,840 --> 00:16:50,000 Speaker 2: looking at the pressure of the Magnificent seven. They're all 318 00:16:50,080 --> 00:16:53,440 Speaker 2: double digits down. It's a mess. You need to start 319 00:16:53,480 --> 00:16:56,680 Speaker 2: thinking about reallogating your portfolio for the rest of this year. So, 320 00:16:57,000 --> 00:16:59,120 Speaker 2: I mean one of my favorite names, I mean I 321 00:16:59,120 --> 00:17:01,520 Speaker 2: would be careful buying it here, but certainly on a pullback. 322 00:17:01,800 --> 00:17:05,240 Speaker 2: I like Imperial Oil. It's just it's one of those 323 00:17:05,280 --> 00:17:08,879 Speaker 2: long standing oil companies. It doesn't have the same you know, 324 00:17:08,960 --> 00:17:11,679 Speaker 2: Panache as BP or some of these other names, but 325 00:17:11,720 --> 00:17:13,840 Speaker 2: it's been around for a long time. And then I 326 00:17:13,920 --> 00:17:17,960 Speaker 2: do like some of the midstream type energy plays. Go 327 00:17:18,160 --> 00:17:22,960 Speaker 2: check out Intero Midstream. It's another symbol, am It's another 328 00:17:23,040 --> 00:17:26,600 Speaker 2: wonderful energy play that's not in the front pages. But 329 00:17:26,680 --> 00:17:28,919 Speaker 2: again you're gonna want to look for those kind of situations. 330 00:17:29,000 --> 00:17:31,160 Speaker 1: Fantastic, Ken, thank you very much for taking the call 331 00:17:31,200 --> 00:17:35,040 Speaker 1: this afternoon as ken Wyen's top rank manager, Ken Wien's 332 00:17:35,080 --> 00:17:38,880 Speaker 1: President and chief investment officer at Winings Investments at Winingsinvestments 333 00:17:38,920 --> 00:17:41,040 Speaker 1: dot com. Ken, thank you very much and look forward 334 00:17:41,040 --> 00:17:42,480 Speaker 1: to speaking with again that very very soon. 335 00:17:43,640 --> 00:17:44,760 Speaker 2: Thank you. Frank, have a good name. 336 00:17:44,800 --> 00:17:47,680 Speaker 1: Thank you very much. Seven ninety KBC Mottak of money 337 00:17:47,760 --> 00:17:51,800 Speaker 1: continues seven ninety KBC mix finish for stocks today in 338 00:17:51,840 --> 00:17:54,240 Speaker 1: the face of uncertainty about when the war with Iran 339 00:17:54,400 --> 00:17:57,280 Speaker 1: could end, the price of oil moving higher the now 340 00:17:57,320 --> 00:17:59,480 Speaker 1: coming in for a closing gain of forty nine points 341 00:17:59,480 --> 00:18:02,840 Speaker 1: at forty five five thy two sixteen, SMP five hundred 342 00:18:02,880 --> 00:18:05,240 Speaker 1: slip twenty five at sixty three hundred and forty four, 343 00:18:05,280 --> 00:18:08,359 Speaker 1: and the Nasdaq down one fifty four at twenty thousand, 344 00:18:08,440 --> 00:18:11,479 Speaker 1: seven ninety five. The VIX index, the volatility index slipped 345 00:18:11,760 --> 00:18:13,959 Speaker 1: one percent today. The yield and the tenure note at 346 00:18:13,960 --> 00:18:17,000 Speaker 1: four point three six percent. The price of gold hovering 347 00:18:17,000 --> 00:18:19,240 Speaker 1: at around forty five hundred and forty one and chained 348 00:18:19,320 --> 00:18:22,479 Speaker 1: silver at seventy dollars sixteen cents it ounds crude all 349 00:18:22,520 --> 00:18:25,040 Speaker 1: futures in New York of nearly two dollars at the 350 00:18:25,040 --> 00:18:27,320 Speaker 1: moment at one oh four point eighty four a barrel 351 00:18:28,440 --> 00:18:31,320 Speaker 1: at Southern Califorty gas pumps. The damage has been done. 352 00:18:31,480 --> 00:18:33,840 Speaker 1: Diesel hitting another record high today here in the Los 353 00:18:33,840 --> 00:18:37,159 Speaker 1: Angeles Aerias seven fifty now the average price for diesel. 354 00:18:37,200 --> 00:18:39,520 Speaker 1: That's an all time high according to today's Triple A 355 00:18:39,600 --> 00:18:42,240 Speaker 1: fuel Gate survey five p ninety nine a gallon for 356 00:18:42,280 --> 00:18:45,200 Speaker 1: regular six thirty eight the average price for premium. Both 357 00:18:45,200 --> 00:18:47,679 Speaker 1: of those still about fifty cents a gallon below the 358 00:18:47,720 --> 00:18:50,639 Speaker 1: record high we saw back in twenty twenty two. Oil 359 00:18:50,680 --> 00:18:53,480 Speaker 1: company stocks a mixed today, with Excello Moobil of forty 360 00:18:53,520 --> 00:18:56,760 Speaker 1: eight cents at one seventy one forty seven, Trevron down 361 00:18:56,800 --> 00:19:01,560 Speaker 1: forty six cents at two ten seventy one, checking Bitcoin 362 00:19:01,640 --> 00:19:04,560 Speaker 1: now up about three hundred at sixty six thousand, seven 363 00:19:04,680 --> 00:19:07,879 Speaker 1: thirty four, Ethereum at twenty twenty nine dogs at the 364 00:19:07,880 --> 00:19:11,880 Speaker 1: moment at nine cents. Motanka money continues Sunda ninety KBC, 365 00:19:12,080 --> 00:19:15,640 Speaker 1: Good afternoon. The White House says President Trump is encouraging 366 00:19:15,640 --> 00:19:18,280 Speaker 1: members of Congress to return to Washington to fully fund 367 00:19:18,320 --> 00:19:21,360 Speaker 1: the Department of Homeland Security of the funding lapse as 368 00:19:21,440 --> 00:19:24,159 Speaker 1: crossed in a new territory now after it became the 369 00:19:24,320 --> 00:19:27,320 Speaker 1: longest partial government shutdown in US history over the weekend. 370 00:19:27,560 --> 00:19:31,520 Speaker 1: Chaos had a lot of airports and fingerpointing continuing in Washington. Meanwhile, 371 00:19:31,560 --> 00:19:35,439 Speaker 1: Senate Republicans now working on a budget reconciliation package that 372 00:19:35,440 --> 00:19:38,280 Speaker 1: could pass without any Democrats aboard and would fund the 373 00:19:38,320 --> 00:19:42,120 Speaker 1: Department of Homeland Security for the next three years, basically 374 00:19:42,280 --> 00:19:45,840 Speaker 1: for the remainder of President Trump's time in office. Meanwhile, 375 00:19:45,840 --> 00:19:49,200 Speaker 1: there's a lot of talk about leaving New York State 376 00:19:49,320 --> 00:19:52,960 Speaker 1: New York City after the city's mayor, Zorn Mundami, has 377 00:19:53,160 --> 00:19:55,920 Speaker 1: been promoting this death tax now in new ways to 378 00:19:56,720 --> 00:19:59,320 Speaker 1: get money from the folks. Let's bring Rover Norquiz, President 379 00:19:59,359 --> 00:20:03,399 Speaker 1: of Americans Tax Reform, America's leading taxpayer advocate, following all 380 00:20:03,440 --> 00:20:06,879 Speaker 1: of these developments with the ringside seat in Washington, Grooverid, 381 00:20:06,880 --> 00:20:08,679 Speaker 1: thank you very much for coming to the line here 382 00:20:08,720 --> 00:20:09,360 Speaker 1: this afternoon. 383 00:20:10,600 --> 00:20:15,320 Speaker 4: Oh. Absolutely, the Democrats have come back with a series 384 00:20:15,359 --> 00:20:22,439 Speaker 4: of tax increases, just as Republican states are voting to 385 00:20:22,440 --> 00:20:28,240 Speaker 4: face their state's income taxes to zero. South Carolina's voted 386 00:20:28,240 --> 00:20:35,600 Speaker 4: to take theirs to zero. Oklahoma, West Virginia, Kentucky, Mississippi. 387 00:20:35,640 --> 00:20:38,120 Speaker 4: Five states where they don't have to pass another bill. 388 00:20:38,160 --> 00:20:41,280 Speaker 4: It will click down to zero as revenue grows instead 389 00:20:41,320 --> 00:20:44,000 Speaker 4: of spending it, they'll take the income tax down to zero. 390 00:20:44,359 --> 00:20:47,320 Speaker 4: And there's seven other states that say their goal is 391 00:20:47,359 --> 00:20:49,800 Speaker 4: to do the same thing the governor and the legislature, 392 00:20:50,640 --> 00:20:52,000 Speaker 4: and they're on route to do it. 393 00:20:52,040 --> 00:20:54,280 Speaker 3: They just haven't passed a lot. 394 00:20:54,160 --> 00:20:59,080 Speaker 4: To make it automatic to go down. Those states have 395 00:20:59,080 --> 00:21:02,520 Speaker 4: been cutting their taxes every year. Ohio went down from 396 00:21:02,600 --> 00:21:04,720 Speaker 4: nine rates down to one rate, and now they're going 397 00:21:04,800 --> 00:21:05,400 Speaker 4: to go to zero. 398 00:21:05,520 --> 00:21:06,440 Speaker 3: So that's the. 399 00:21:06,400 --> 00:21:09,880 Speaker 4: Red states, Republican states. And I had kind of expected 400 00:21:09,880 --> 00:21:12,080 Speaker 4: to hear from some of the Democrats states, well, here's 401 00:21:12,080 --> 00:21:14,439 Speaker 4: some taxes we could cut, and here's one of the 402 00:21:14,480 --> 00:21:17,119 Speaker 4: taxes that we know are driving people out of New 403 00:21:17,200 --> 00:21:22,600 Speaker 4: York and California and now Washington State and Minnesota. Instead 404 00:21:23,359 --> 00:21:28,520 Speaker 4: they're recommending higher taxes. To give you some sense of 405 00:21:28,520 --> 00:21:33,600 Speaker 4: what they're thinking about, go back to Cuomo when he 406 00:21:33,720 --> 00:21:39,520 Speaker 4: was the governor in New York and nineteen eighty eighty. 407 00:21:40,000 --> 00:21:43,960 Speaker 4: In nineteen ninety eight, just about thirty years ago, they 408 00:21:44,040 --> 00:21:46,680 Speaker 4: passed a law that said, we have a one percent 409 00:21:46,840 --> 00:21:52,479 Speaker 4: tax on mansions. Mansions where you earn more, where it 410 00:21:52,480 --> 00:21:55,240 Speaker 4: costs more than a million dollars. Well, people, oh but 411 00:21:55,359 --> 00:21:58,760 Speaker 4: my goodness, I'll ever have one of those. At our 412 00:21:58,800 --> 00:22:03,479 Speaker 4: website hr dot org, you can and go look at 413 00:22:03,480 --> 00:22:06,840 Speaker 4: the mansion tax. You can see the pictures of what 414 00:22:07,160 --> 00:22:10,800 Speaker 4: in New York is a million dollar home the dog. 415 00:22:12,760 --> 00:22:16,480 Speaker 4: Yes they are, they're small, they're not they're not well 416 00:22:16,600 --> 00:22:17,160 Speaker 4: kept up. 417 00:22:18,640 --> 00:22:21,280 Speaker 3: But with the land and with inflation. 418 00:22:21,359 --> 00:22:25,399 Speaker 4: Of course, when Cuomo, Democrat governor of New York did this, 419 00:22:25,920 --> 00:22:28,960 Speaker 4: even indexit for inflation, that million dollars seemed like a 420 00:22:28,960 --> 00:22:30,359 Speaker 4: lot of money thirty years ago. 421 00:22:30,760 --> 00:22:32,320 Speaker 3: Doesn't seem like so much now. 422 00:22:32,680 --> 00:22:35,920 Speaker 4: Oh and the one percent isn't on everything more than 423 00:22:35,920 --> 00:22:39,159 Speaker 4: a million dollars. If you sell your house for a 424 00:22:39,200 --> 00:22:42,280 Speaker 4: million and one dollar, they take one percent of the 425 00:22:42,440 --> 00:22:45,560 Speaker 4: entire value of the house. And that's on top of 426 00:22:46,240 --> 00:22:49,240 Speaker 4: all the other taxes that the government throws up. So 427 00:22:49,359 --> 00:22:53,080 Speaker 4: that's an example looking back thirty years you know, to 428 00:22:53,640 --> 00:22:58,720 Speaker 4: to where. But now they're talking about new taxes. Okay, 429 00:22:59,000 --> 00:23:01,399 Speaker 4: and this is monda back to New York City. This 430 00:23:01,480 --> 00:23:05,840 Speaker 4: is a New York City tax that he wants when 431 00:23:05,840 --> 00:23:10,359 Speaker 4: he wants a fifty percent death tax, not when you 432 00:23:10,400 --> 00:23:15,480 Speaker 4: sell your house when you die, fifty percent of anything 433 00:23:15,800 --> 00:23:18,359 Speaker 4: the value of the house more than seven hundred and 434 00:23:18,359 --> 00:23:22,440 Speaker 4: fifty thousand, Okay, nine million, continued down to seven hundred 435 00:23:22,440 --> 00:23:28,000 Speaker 4: and fifty thousand, not indexed for inflation. The death tax 436 00:23:28,040 --> 00:23:32,760 Speaker 4: in New York State. When you add the federal and 437 00:23:32,880 --> 00:23:38,080 Speaker 4: the state together, then under his be seventy percent of 438 00:23:38,160 --> 00:23:43,439 Speaker 4: everything you own. So this fifty percent death tax idea, 439 00:23:44,040 --> 00:23:46,280 Speaker 4: watch for it in a blue state near you. 440 00:23:46,800 --> 00:23:48,720 Speaker 1: Wow, that is really something to see us tonight. Read 441 00:23:48,720 --> 00:23:50,560 Speaker 1: about it tomorrow. But here at now in Motech on 442 00:23:50,640 --> 00:23:52,879 Speaker 1: Money live on the earl of Grover Norquiz, the President 443 00:23:52,920 --> 00:23:56,960 Speaker 1: of Americans for tax reform. And in another tax that's 444 00:23:56,960 --> 00:23:58,800 Speaker 1: getting a lot of attention to a lot of places 445 00:23:59,080 --> 00:24:01,320 Speaker 1: is the gas tax. Even at the federal level, they're 446 00:24:01,359 --> 00:24:06,159 Speaker 1: thinking about maybe imposing a tax holiday or giving consumers 447 00:24:06,160 --> 00:24:10,200 Speaker 1: a break as gas prices and diesel prices continue to rise. 448 00:24:10,240 --> 00:24:12,040 Speaker 1: Diesel here in the Los Angeles sure at an all 449 00:24:12,119 --> 00:24:16,400 Speaker 1: time high today it seven fifty a gallon. A lot 450 00:24:16,400 --> 00:24:19,679 Speaker 1: of states you're talking about cutting the gas tax, but 451 00:24:19,720 --> 00:24:23,560 Speaker 1: not California. Of course, what's the buzz on states trying 452 00:24:23,560 --> 00:24:26,320 Speaker 1: to do something like that to help the folks. 453 00:24:26,520 --> 00:24:28,159 Speaker 4: Yeah, there are a number of states that will do 454 00:24:28,200 --> 00:24:31,879 Speaker 4: a temporary reduction in the income tax. Look, this jump 455 00:24:32,040 --> 00:24:35,560 Speaker 4: in the cost of gasoline is a temporary one. That 456 00:24:35,720 --> 00:24:37,480 Speaker 4: the war in Iraq is not going to go on forever. 457 00:24:38,480 --> 00:24:41,920 Speaker 4: And if Trump is successful in what he wants to do, 458 00:24:42,040 --> 00:24:44,879 Speaker 4: he will make it easy for the oil to flow 459 00:24:44,960 --> 00:24:47,320 Speaker 4: through the straits of her moves and not be challenged 460 00:24:47,720 --> 00:24:52,480 Speaker 4: by the Iranian government, and that will make oil prices 461 00:24:52,920 --> 00:24:57,600 Speaker 4: lower for everybody out into infinity into the future. But 462 00:24:57,800 --> 00:25:01,800 Speaker 4: during this period a month, months, three months, where there's 463 00:25:01,920 --> 00:25:05,320 Speaker 4: uncertainty there, it will keep the price up. And it'd 464 00:25:05,320 --> 00:25:09,280 Speaker 4: be very helpful to people for states to not have 465 00:25:09,320 --> 00:25:16,240 Speaker 4: a higher income tax. I'm sorry, gasoline tax, gas tax, 466 00:25:16,640 --> 00:25:19,040 Speaker 4: and we should keep those down and we should we 467 00:25:19,080 --> 00:25:21,560 Speaker 4: should take those down. What they are also looking at 468 00:25:21,640 --> 00:25:24,159 Speaker 4: doing is taking some of the oil out of the 469 00:25:24,200 --> 00:25:28,239 Speaker 4: strategic reserves. The real goal of those strategic reserves is 470 00:25:28,280 --> 00:25:31,680 Speaker 4: when there's an emergency, you can tell you can temporarily 471 00:25:31,720 --> 00:25:35,160 Speaker 4: bring oil out of that and then refill them. What 472 00:25:35,240 --> 00:25:39,639 Speaker 4: Biden did was because of inflation, which wasn't temporary. You know, 473 00:25:40,119 --> 00:25:42,119 Speaker 4: it was kept great. They were trying to make it 474 00:25:42,160 --> 00:25:48,600 Speaker 4: look less expensive by pumping a gasoline out of those reserves. 475 00:25:48,800 --> 00:25:53,800 Speaker 3: There wasn't an emergency. It was just his inflation. So 476 00:25:53,840 --> 00:25:55,880 Speaker 3: that was an issuse of it. 477 00:25:55,920 --> 00:25:58,080 Speaker 4: But I think it is fair to say that when 478 00:25:58,119 --> 00:26:02,200 Speaker 4: you have a foreign government threat to reduce the ability 479 00:26:02,200 --> 00:26:05,040 Speaker 4: of people to move oil to the United States or 480 00:26:05,080 --> 00:26:08,120 Speaker 4: around the globe, that that is an emergency and it's 481 00:26:08,160 --> 00:26:09,800 Speaker 4: not going to as a temporary emergency. 482 00:26:09,960 --> 00:26:11,840 Speaker 3: It's not going to go on forever on. 483 00:26:11,920 --> 00:26:14,280 Speaker 1: They're alive with Grover nor Quiz, President of Americans for 484 00:26:14,359 --> 00:26:16,400 Speaker 1: Tax Reform, can you give us an update of what's 485 00:26:16,400 --> 00:26:19,960 Speaker 1: happening in Washington on the Department of Homeland the security 486 00:26:20,040 --> 00:26:23,040 Speaker 1: funding with this new idea? Now that Senate Republicans are 487 00:26:23,080 --> 00:26:26,000 Speaker 1: working on a deal that would pass without any Democrats 488 00:26:26,040 --> 00:26:28,760 Speaker 1: support and would fund the da CHANCE for the next 489 00:26:28,920 --> 00:26:32,119 Speaker 1: three years for the remainder of the president's time in office. 490 00:26:32,160 --> 00:26:34,479 Speaker 1: So where do things stand with all that? And as 491 00:26:34,480 --> 00:26:35,760 Speaker 1: the frustration continues at. 492 00:26:35,640 --> 00:26:41,960 Speaker 4: The airports, Sure every year the party in power can 493 00:26:42,080 --> 00:26:46,520 Speaker 4: pass one or two reconciliation packages, and they're talking about 494 00:26:46,520 --> 00:26:51,240 Speaker 4: doing one now. And a reconciliation package deals with spending 495 00:26:51,960 --> 00:26:57,040 Speaker 4: and taxes. You cannot change laws. Republicans wanted to abolish 496 00:26:57,440 --> 00:27:01,520 Speaker 4: the Obamacare, but they were told, you know that you 497 00:27:01,640 --> 00:27:04,359 Speaker 4: can't change the law. You can change the amount of 498 00:27:04,400 --> 00:27:06,359 Speaker 4: money or the amount of taxes. We got rid of 499 00:27:06,440 --> 00:27:10,800 Speaker 4: the Obama taxes in Obamacare. That you can do, but 500 00:27:10,840 --> 00:27:14,760 Speaker 4: you couldn't abolish the program and change the laws. So 501 00:27:15,640 --> 00:27:20,200 Speaker 4: we can decide to prefund the military. There's a concern 502 00:27:20,240 --> 00:27:23,119 Speaker 4: if the Democrats win the House and or the Senate 503 00:27:23,680 --> 00:27:26,440 Speaker 4: that they might not pass the military budget that would 504 00:27:26,440 --> 00:27:29,920 Speaker 4: protect the country. They've been voting against the military budgets 505 00:27:29,960 --> 00:27:30,920 Speaker 4: to protect the country. 506 00:27:31,240 --> 00:27:33,120 Speaker 3: You might want to take that out three years. 507 00:27:33,160 --> 00:27:36,520 Speaker 4: You might want to take a homeland security out three years. 508 00:27:36,920 --> 00:27:40,000 Speaker 4: All of the kind of spending that the Democrats would 509 00:27:40,400 --> 00:27:43,680 Speaker 4: want to hold hostage for more welfare spending. So I'm 510 00:27:43,720 --> 00:27:45,359 Speaker 4: not going to give you a military unless you give 511 00:27:45,400 --> 00:27:45,880 Speaker 4: us more money. 512 00:27:45,920 --> 00:27:46,200 Speaker 3: Here. 513 00:27:47,240 --> 00:27:50,320 Speaker 4: No, we're going to prefund it so that you can't 514 00:27:50,400 --> 00:27:55,719 Speaker 4: blackmail the country and demand more spending for special interests. 515 00:27:55,800 --> 00:27:57,479 Speaker 4: If we're going to have a military, if we're going 516 00:27:57,520 --> 00:28:01,280 Speaker 4: to have national security think it's very likely, and it's 517 00:28:01,359 --> 00:28:04,800 Speaker 4: wise for the Republicans to plan in case and the 518 00:28:04,800 --> 00:28:08,600 Speaker 4: same thing with some additional tax reductions pro growth. 519 00:28:08,960 --> 00:28:11,639 Speaker 3: We need to do that now because it's possible the 520 00:28:11,680 --> 00:28:12,760 Speaker 3: Democrats could win the. 521 00:28:12,680 --> 00:28:17,120 Speaker 4: House in November and be able to stop any pro 522 00:28:17,119 --> 00:28:20,639 Speaker 4: growth tax policy or to stop national security spending. 523 00:28:21,160 --> 00:28:23,639 Speaker 1: COVID norquis thank you very much for coming to the 524 00:28:23,640 --> 00:28:25,679 Speaker 1: line here with all that that is. Grover Norquist, the 525 00:28:25,720 --> 00:28:28,880 Speaker 1: President of Americans for Tax Reform, Live with this here 526 00:28:29,040 --> 00:28:32,320 Speaker 1: on Motech on Money on seven ninety KBC. Motech of 527 00:28:32,359 --> 00:28:35,280 Speaker 1: Money continues seven ninety KBC. Hopes of a ceasefire with 528 00:28:35,400 --> 00:28:38,480 Speaker 1: Iran fading with more US troops arriving in the Middle East. 529 00:28:38,520 --> 00:28:41,320 Speaker 1: Yemen's Huti is joining the war now as well. We 530 00:28:41,360 --> 00:28:43,400 Speaker 1: saw a mixed finish for the stock market today as 531 00:28:43,400 --> 00:28:46,000 Speaker 1: the price of oil continue to move higher. The Wall 532 00:28:46,000 --> 00:28:48,880 Speaker 1: Street Journal reports President Trump is now weighing a military 533 00:28:48,920 --> 00:28:53,320 Speaker 1: operation to extract Iran's uranium. That report says the President 534 00:28:53,360 --> 00:28:55,960 Speaker 1: is weighing a military operation to extract nearly one thousand 535 00:28:55,960 --> 00:28:59,680 Speaker 1: pounds of uranium from Iran, according to unnamed US officials, 536 00:28:59,800 --> 00:29:03,560 Speaker 1: complex and risky mission that would likely put US forces 537 00:29:03,640 --> 00:29:07,280 Speaker 1: inside Iran for days or longer. According to the journal, 538 00:29:07,320 --> 00:29:09,240 Speaker 1: the President has not made a decision on whether to 539 00:29:09,400 --> 00:29:12,160 Speaker 1: give the order, adding that he's considering the danger to 540 00:29:12,320 --> 00:29:15,280 Speaker 1: US troops, but the President remains generally open to the idea, 541 00:29:15,280 --> 00:29:17,840 Speaker 1: according to the officials talking to the journal, because it 542 00:29:17,880 --> 00:29:20,800 Speaker 1: could help accomplish his central goal of preventing Iran from 543 00:29:20,840 --> 00:29:23,680 Speaker 1: ever making a nuclear weapon. The report goes on to 544 00:29:23,720 --> 00:29:26,440 Speaker 1: say the President has also encouraged his advisors to press 545 00:29:26,440 --> 00:29:29,280 Speaker 1: Iran to agree to surrender the material as a condition 546 00:29:29,480 --> 00:29:33,280 Speaker 1: for ending the war. President's been clear in conversations with 547 00:29:33,320 --> 00:29:36,160 Speaker 1: political allies that the Iranians cannot keep the material, and 548 00:29:36,160 --> 00:29:38,960 Speaker 1: he has discussed seizing it by force if Iran will 549 00:29:39,000 --> 00:29:42,960 Speaker 1: not give it up at the negotiating table. Meanwhile, Pakistan, Turkey, 550 00:29:43,000 --> 00:29:45,480 Speaker 1: and Egypt to BacT it as intermediaries now between the 551 00:29:45,560 --> 00:29:48,240 Speaker 1: US and Iran, but Washington and Telran have not yet 552 00:29:48,240 --> 00:29:52,560 Speaker 1: engaged in direct negotiations to end the war. Over the weekend, 553 00:29:52,600 --> 00:29:54,720 Speaker 1: the President told reporters that Iran must do what the 554 00:29:54,800 --> 00:29:56,720 Speaker 1: US demands, or, in his words, they're not going to 555 00:29:56,720 --> 00:29:59,640 Speaker 1: have a country. Referring to Iran's uranium, the president said 556 00:29:59,640 --> 00:30:03,640 Speaker 1: they're going to give us the nuclear dust. Before Israel 557 00:30:03,640 --> 00:30:05,920 Speaker 1: and the US conducted a series of strikes on Iran 558 00:30:05,920 --> 00:30:08,160 Speaker 1: in June of last year, Iran was believed to have 559 00:30:08,240 --> 00:30:11,120 Speaker 1: had more than four hundred kilos of sixty percent highly 560 00:30:11,200 --> 00:30:14,760 Speaker 1: enriched uranium and nearly two hundred kilograms of twenty percent 561 00:30:15,080 --> 00:30:19,120 Speaker 1: fissile material, which is easily converted into ninety percent weapons 562 00:30:19,160 --> 00:30:23,600 Speaker 1: great uranium. Following all these developments, closely joining US live 563 00:30:23,680 --> 00:30:26,520 Speaker 1: now is retired US Marine Corps Lieutenant Colonel hell Kemfer, 564 00:30:26,640 --> 00:30:30,680 Speaker 1: retired US Marine Corps intelligence officer, national security expert, and 565 00:30:30,720 --> 00:30:35,520 Speaker 1: hosts of the Stratford Podcast. Thank you very much for 566 00:30:35,600 --> 00:30:38,640 Speaker 1: joining us live here on MOTECH on Money on seven 567 00:30:38,720 --> 00:30:42,400 Speaker 1: ninety KBC. Colonel give us your reaction to this journal 568 00:30:42,440 --> 00:30:47,360 Speaker 1: report regarding possible US forces seizing Iran's uranium. 569 00:30:48,560 --> 00:30:51,320 Speaker 5: Well, Frank, that would be a really major operation. First, 570 00:30:51,320 --> 00:30:52,680 Speaker 5: you have to go in there. You have to seize 571 00:30:52,680 --> 00:30:54,440 Speaker 5: the area, so you're talking about a lot of round 572 00:30:54,440 --> 00:30:56,800 Speaker 5: forces in there. You'd have to develop some sort of 573 00:30:56,880 --> 00:31:00,680 Speaker 5: air field capability because it's well inside the country, So 574 00:31:00,720 --> 00:31:02,440 Speaker 5: you have to you have to go in there, not 575 00:31:02,600 --> 00:31:04,640 Speaker 5: just seize it, but you have to then contain it, 576 00:31:04,720 --> 00:31:06,600 Speaker 5: and then you have to load it onto aircraft to 577 00:31:06,600 --> 00:31:08,160 Speaker 5: ship it out to where we're going to take it. 578 00:31:08,640 --> 00:31:11,040 Speaker 5: We would have forces on the ground for not days, 579 00:31:11,080 --> 00:31:16,040 Speaker 5: but potentially weeks and conceivably even months doing something like this. 580 00:31:16,560 --> 00:31:19,240 Speaker 5: So you can see the real limitations that would take 581 00:31:19,280 --> 00:31:21,800 Speaker 5: place if if I ran still has the ability to, 582 00:31:22,360 --> 00:31:25,920 Speaker 5: you know, move military forces in there to attack the 583 00:31:25,960 --> 00:31:27,920 Speaker 5: site while we're trying to do it. So it's a 584 00:31:27,920 --> 00:31:31,000 Speaker 5: big challenge with all of that said, from what I 585 00:31:31,080 --> 00:31:34,000 Speaker 5: understand from the comments of a former US Central Command 586 00:31:34,360 --> 00:31:38,160 Speaker 5: commander Frank McKenzie, he says, yeah, we've done planning for 587 00:31:38,200 --> 00:31:40,520 Speaker 5: all this stuff, so I would take him as word 588 00:31:40,560 --> 00:31:40,760 Speaker 5: on that. 589 00:31:41,080 --> 00:31:44,320 Speaker 1: Well, give us your assessment of the forces that are 590 00:31:45,200 --> 00:31:47,800 Speaker 1: moving into the Middle East another of a twenty five 591 00:31:47,880 --> 00:31:51,400 Speaker 1: hundred marines, I understand, and what kind of force would 592 00:31:51,440 --> 00:31:55,600 Speaker 1: be needed you think to accomplish what's been reported here 593 00:31:55,640 --> 00:31:56,640 Speaker 1: this possibility. 594 00:31:57,640 --> 00:32:00,200 Speaker 5: Well, with that possibility, it would take it would take 595 00:32:00,240 --> 00:32:02,480 Speaker 5: a lot. I don't know exactly the fourth number, but 596 00:32:02,520 --> 00:32:04,720 Speaker 5: I would imagine to go in there and see the 597 00:32:04,760 --> 00:32:06,600 Speaker 5: site like that and hold up for that period of time. 598 00:32:06,600 --> 00:32:10,520 Speaker 5: You're talking thousands, not hundreds, But we have twenty five 599 00:32:10,600 --> 00:32:12,680 Speaker 5: hundred Marines with a thirty first Marine Exhibition or a 600 00:32:12,760 --> 00:32:15,560 Speaker 5: unit out of Japan. The ground combat element of that, 601 00:32:15,560 --> 00:32:18,320 Speaker 5: it's only about say, eight hundred marines, but it is 602 00:32:18,360 --> 00:32:23,000 Speaker 5: a very robust, capable unit, particularly capable of doing a 603 00:32:23,040 --> 00:32:27,360 Speaker 5: lot of amphibious raids. Raids are distinctive from other operations 604 00:32:27,400 --> 00:32:30,520 Speaker 5: because raids mean that you have a planned withdrawal. In 605 00:32:30,600 --> 00:32:32,360 Speaker 5: other words, you're not going to stay there. So that's 606 00:32:32,400 --> 00:32:34,600 Speaker 5: one of the capabilities we have. The other is eighty 607 00:32:34,640 --> 00:32:38,360 Speaker 5: second Airborne. Their immediate response for us about it was 608 00:32:38,440 --> 00:32:40,760 Speaker 5: kind of varying. First was coming a thousand. They said, 609 00:32:40,760 --> 00:32:43,200 Speaker 5: there's three thousand, we're going to come in now. Look 610 00:32:43,240 --> 00:32:45,360 Speaker 5: somewhere between one to two thousand, and I understand it's 611 00:32:45,400 --> 00:32:48,680 Speaker 5: the first brigade of the a second Airborne, but it's 612 00:32:48,720 --> 00:32:51,800 Speaker 5: also they've said, look, there's Navy seals, but they have 613 00:32:52,360 --> 00:32:54,040 Speaker 5: I don't know how many, but they have a lot 614 00:32:54,040 --> 00:32:56,720 Speaker 5: of rangers standing by. I'm assuming they have other special 615 00:32:56,760 --> 00:33:01,200 Speaker 5: operation forces standing by. So there's a really significant capability 616 00:33:01,240 --> 00:33:05,760 Speaker 5: to do some very demanding raid or special operations type 617 00:33:05,800 --> 00:33:08,240 Speaker 5: of things, not a desert storm thing where we go 618 00:33:08,240 --> 00:33:11,760 Speaker 5: in there and liberate the country. Or not, something like 619 00:33:11,800 --> 00:33:15,280 Speaker 5: the first weeks of Iraqi freedom, but something where we 620 00:33:15,320 --> 00:33:18,360 Speaker 5: do raids a little bit more complex, a little bit 621 00:33:18,400 --> 00:33:22,520 Speaker 5: bigger than what we probably did for Venezuela. But something along, 622 00:33:22,680 --> 00:33:23,840 Speaker 5: you know, something along those lines. 623 00:33:23,920 --> 00:33:26,360 Speaker 1: All right, Obviously, getting the Straight of Horror Moves opened 624 00:33:26,600 --> 00:33:29,880 Speaker 1: reopened is a high priority at this point. What are 625 00:33:29,920 --> 00:33:34,040 Speaker 1: the possible scenarios of involving US troops to accomplish that. 626 00:33:35,480 --> 00:33:38,080 Speaker 5: Well, the possibility is we could, and this has been 627 00:33:38,120 --> 00:33:40,960 Speaker 5: talked about quite a bit, is doing some seizing some islands. 628 00:33:41,440 --> 00:33:43,240 Speaker 5: If you look at the Straight of Horne Moves, there's 629 00:33:43,280 --> 00:33:45,760 Speaker 5: a bunch of little islands out there. Three of those 630 00:33:45,760 --> 00:33:48,080 Speaker 5: little islands, which are kind of critical of them, we 631 00:33:48,160 --> 00:33:51,520 Speaker 5: saw greater and lesser tomb are actually claimed by the 632 00:33:51,640 --> 00:33:54,480 Speaker 5: UAE as sovereign territory. They were seized by a Sewan 633 00:33:54,560 --> 00:33:57,120 Speaker 5: seventy one. Those could probably be easily taken with the 634 00:33:57,120 --> 00:33:59,960 Speaker 5: forces we have there. And then you have a couple 635 00:34:00,120 --> 00:34:03,440 Speaker 5: other ones. Hormuz, which the strait is named after, and 636 00:34:03,520 --> 00:34:06,720 Speaker 5: a couple of other smaller islands are possible. Carg Island, 637 00:34:06,720 --> 00:34:08,640 Speaker 5: where ninety percent of the oil comes out, is further 638 00:34:08,719 --> 00:34:10,920 Speaker 5: up the Persian Gulf, that's been talked about for seizure 639 00:34:10,960 --> 00:34:13,840 Speaker 5: as well, but there is a possibility of trying to 640 00:34:13,920 --> 00:34:16,799 Speaker 5: control the straight up Hormuz by taking some of these 641 00:34:16,840 --> 00:34:17,799 Speaker 5: key islands. 642 00:34:18,360 --> 00:34:21,120 Speaker 1: Looks like Kuwait says. An oil tanker hitting Irani and 643 00:34:21,320 --> 00:34:24,240 Speaker 1: was hitting in an Iranian tank at a Jubai port 644 00:34:24,480 --> 00:34:27,920 Speaker 1: warns a possible oil spill there. We're following these latest 645 00:34:27,920 --> 00:34:31,200 Speaker 1: headlines of the Israeli military so that its struck military sites 646 00:34:31,400 --> 00:34:35,480 Speaker 1: in Tehran as well as along the Caspian Sea. Israel's 647 00:34:35,560 --> 00:34:38,279 Speaker 1: largest oil refinery also came under an attack by an 648 00:34:38,280 --> 00:34:41,879 Speaker 1: Iranian missile. I know you're following these reports as well. 649 00:34:42,239 --> 00:34:45,880 Speaker 1: What stands out to you in this latest military action. 650 00:34:46,760 --> 00:34:48,839 Speaker 5: Well, it really stands out as Iran is going after 651 00:34:49,000 --> 00:34:51,719 Speaker 5: energy infrastructure. They're going after oil sites. They hit a 652 00:34:51,760 --> 00:34:56,000 Speaker 5: chemical plant, which is a critical infrastructure facility in Israel yesterday. 653 00:34:56,360 --> 00:35:00,799 Speaker 5: They're hitting oil infrastructure, oil plants, to to include that 654 00:35:00,960 --> 00:35:03,760 Speaker 5: large part that the UAE has on the Gulf of Oman, 655 00:35:04,520 --> 00:35:07,000 Speaker 5: and they're even hitting it in Saudi Arabia on the 656 00:35:07,000 --> 00:35:11,600 Speaker 5: Red Sea side the port where the East West Pipeline terminates. 657 00:35:12,160 --> 00:35:15,880 Speaker 5: All of this is they're trying to somehow hold up 658 00:35:16,000 --> 00:35:18,920 Speaker 5: or clog up the oil export out of the area. 659 00:35:19,680 --> 00:35:22,480 Speaker 5: With that said, you know, President Trump's made it very 660 00:35:22,480 --> 00:35:25,719 Speaker 5: clear that we will if things fall apart, that we 661 00:35:25,760 --> 00:35:29,160 Speaker 5: will respond by going after their energy infrastructure in a 662 00:35:29,239 --> 00:35:32,600 Speaker 5: far more concerned way. The thing is energy infrastructure. It's vulnerable, 663 00:35:32,719 --> 00:35:34,680 Speaker 5: it can all be struck. It's not something that's a 664 00:35:34,719 --> 00:35:38,880 Speaker 5: hardened target. So that's a big problem for everybody. 665 00:35:38,680 --> 00:35:38,960 Speaker 3: All right. 666 00:35:38,960 --> 00:35:41,360 Speaker 1: Now, the Who's he's also involved on the side of 667 00:35:41,360 --> 00:35:45,439 Speaker 1: Iran and has Bella also attacking Israel. The Israeli Prime 668 00:35:45,480 --> 00:35:48,080 Speaker 1: Minister ordering the military to expand a so called security 669 00:35:48,200 --> 00:35:51,319 Speaker 1: zone inside southern Lebanon. What do you see ahead on 670 00:35:51,320 --> 00:35:51,839 Speaker 1: those runts? 671 00:35:52,880 --> 00:35:54,759 Speaker 5: Well, of course, so who these as we were caalling, 672 00:35:54,800 --> 00:35:56,720 Speaker 5: remember they were kind of holding up all the shipping 673 00:35:56,800 --> 00:35:59,719 Speaker 5: going through through the Red Sea to the Babam in depth, 674 00:35:59,719 --> 00:36:02,840 Speaker 5: straight through the you know, the Gulf of Aiden, that's 675 00:36:02,920 --> 00:36:05,840 Speaker 5: the thing that feeds in and out of the Suez Canal. 676 00:36:06,120 --> 00:36:09,279 Speaker 5: Of course, five percent of the world's shipping goes through 677 00:36:09,280 --> 00:36:11,560 Speaker 5: that area, or at least did go through that area 678 00:36:11,560 --> 00:36:14,319 Speaker 5: before the Hooti started doing their stuff. The fear is 679 00:36:14,320 --> 00:36:16,040 Speaker 5: not that they're going to fire a few missiles up 680 00:36:16,080 --> 00:36:18,160 Speaker 5: to Israel. That's more of a statement. The fear is 681 00:36:18,160 --> 00:36:20,920 Speaker 5: that they're going to continue with their anti ship campaign. 682 00:36:21,560 --> 00:36:24,920 Speaker 5: Now they're they're looking at an existential crisis if the 683 00:36:24,960 --> 00:36:30,000 Speaker 5: regime in Iran falls. That is their only sponsor anywhere. 684 00:36:30,040 --> 00:36:35,560 Speaker 5: That's their support for everything, you know, training, weapons, finances, whatever, 685 00:36:36,000 --> 00:36:39,080 Speaker 5: that's what they rely upon. So so for them, they 686 00:36:39,080 --> 00:36:42,680 Speaker 5: are like has below, up against an existential reality, which is, 687 00:36:43,480 --> 00:36:46,080 Speaker 5: you know, damned if they do, damned if they don't. 688 00:36:46,120 --> 00:36:48,279 Speaker 5: In this case, it looks like they're leaning towards doing 689 00:36:48,400 --> 00:36:49,359 Speaker 5: just as has Blaw did. 690 00:36:49,800 --> 00:36:51,560 Speaker 1: In about thirty seconds, colonel, let me ask you the 691 00:36:51,560 --> 00:36:54,520 Speaker 1: big question, how do you see this thing ending? What's 692 00:36:54,560 --> 00:36:55,320 Speaker 1: the end game here? 693 00:36:56,480 --> 00:36:59,400 Speaker 5: Well, I mean the operall end game is that the 694 00:36:59,400 --> 00:37:02,480 Speaker 5: people of our overthrow the government and put in a 695 00:37:02,600 --> 00:37:05,880 Speaker 5: new regime, which is very pro Western. That's what everybody 696 00:37:05,880 --> 00:37:08,360 Speaker 5: to hope for, and certainly if you look at December January, 697 00:37:08,360 --> 00:37:10,320 Speaker 5: we thought that could happen. The other side is we 698 00:37:10,440 --> 00:37:13,440 Speaker 5: negotiate a settlement and we get the things or asked for. 699 00:37:13,480 --> 00:37:15,480 Speaker 5: If you look at that fifteen point plan, that would 700 00:37:15,520 --> 00:37:17,960 Speaker 5: be kind of the end state as a negotiated settlement. 701 00:37:18,440 --> 00:37:20,719 Speaker 1: Colonel, thank you very much for that thorough assessment. We 702 00:37:20,800 --> 00:37:22,480 Speaker 1: will keep an open line that to you here. That 703 00:37:22,600 --> 00:37:25,720 Speaker 1: is retired US Marine Corps Lieutenant Colonel Health Comfort, retired 704 00:37:25,800 --> 00:37:29,120 Speaker 1: US Marine Corps Intelligence officer, national security analyst, and hosts 705 00:37:29,120 --> 00:37:32,160 Speaker 1: of the Strat podcast happens to be based right here 706 00:37:32,160 --> 00:37:34,640 Speaker 1: in southern California. Colonel again, thank you very much for 707 00:37:34,920 --> 00:37:36,200 Speaker 1: joining us livery this afternoon. 708 00:37:37,160 --> 00:37:37,800 Speaker 5: Thank you, Frank. 709 00:37:39,280 --> 00:37:42,040 Speaker 1: Now, stay tuned now for the seven ninety KBC News 710 00:37:42,120 --> 00:37:43,799 Speaker 1: Blitz with the Randy Wang. I'll be back with more 711 00:37:43,800 --> 00:37:46,040 Speaker 1: than four tomorrow right here in seven ninety KBC