1 00:00:01,680 --> 00:00:03,680 Speaker 1: In New York flanks by Texas Democrats. 2 00:00:03,760 --> 00:00:06,640 Speaker 2: The governor said she'd push her state to consider redistrictate 3 00:00:06,920 --> 00:00:08,880 Speaker 2: in response to what's happening in Texas. 4 00:00:09,160 --> 00:00:11,560 Speaker 3: This is a war. We are at war, and that's 5 00:00:11,600 --> 00:00:13,200 Speaker 3: why the gloves are off. 6 00:00:13,400 --> 00:00:15,800 Speaker 1: Subpoenas from Texas don't work in New York, so he 7 00:00:15,880 --> 00:00:16,600 Speaker 1: gonna come get us. 8 00:00:16,640 --> 00:00:18,800 Speaker 3: Hal subpoenas in Texas. 9 00:00:18,480 --> 00:00:21,600 Speaker 1: Don't work in Chicago, He's gonna come get us. Half. 10 00:00:21,640 --> 00:00:25,800 Speaker 3: You're listening to the forty seven Morning Update with Ben ferguson. 11 00:00:25,320 --> 00:00:27,240 Speaker 1: Good Tuesday morning. It's so nice to have you with 12 00:00:27,360 --> 00:00:29,880 Speaker 1: us on the forty seven Morning Update, and we've got 13 00:00:29,920 --> 00:00:33,240 Speaker 1: two major stories for you. First up, we're hearing now 14 00:00:33,320 --> 00:00:37,000 Speaker 1: from Donald Trump's White House. An executive order is on 15 00:00:37,200 --> 00:00:43,200 Speaker 1: its way over deep banking of conservatives by small, mid size, 16 00:00:43,240 --> 00:00:49,120 Speaker 1: and especially large banks that are attacking Conservatives and Christians 17 00:00:49,159 --> 00:00:53,159 Speaker 1: solely based because of their belief system. I'll break that 18 00:00:53,280 --> 00:00:56,720 Speaker 1: down for you in a second. Plus, a major fight 19 00:00:56,840 --> 00:01:02,000 Speaker 1: happening right now in Texas. Yes, Democrats are leaving the 20 00:01:02,040 --> 00:01:06,280 Speaker 1: state over redistricting battle, and it's a big problem that 21 00:01:06,360 --> 00:01:10,720 Speaker 1: could expand all over the country as Democrats are holding 22 00:01:10,840 --> 00:01:15,399 Speaker 1: state legislators hostage as they're trying to redistrict based on 23 00:01:15,440 --> 00:01:19,080 Speaker 1: what the voters wanted. What does this mean moving forward? 24 00:01:19,319 --> 00:01:21,720 Speaker 1: I'll explain it all to you. All right, I want 25 00:01:21,720 --> 00:01:23,920 Speaker 1: to take a moment talk about the economy. You've been 26 00:01:23,959 --> 00:01:26,120 Speaker 1: seeing what's happening on Wall Street, You've seen what's been 27 00:01:26,120 --> 00:01:29,480 Speaker 1: happening with interest rates, and you've probably seen gold prices 28 00:01:29,800 --> 00:01:34,640 Speaker 1: hitting all time record highs. Why because there is uncertainty 29 00:01:34,760 --> 00:01:37,200 Speaker 1: all over the world right now, and when there is 30 00:01:37,319 --> 00:01:42,280 Speaker 1: uncertain times, you want real answers about your financial stability. Well, 31 00:01:42,280 --> 00:01:45,279 Speaker 1: at Kurt Elliott Precious Metals, you get more than gold 32 00:01:45,280 --> 00:01:48,800 Speaker 1: and silver. You get trusted guidance from a team that 33 00:01:48,920 --> 00:01:54,320 Speaker 1: puts people first always. You also get transparency. This is 34 00:01:54,360 --> 00:01:58,000 Speaker 1: why I recommend them. Their mission is clear. They want 35 00:01:58,000 --> 00:02:01,080 Speaker 1: to help you protect what matters most with real metals, 36 00:02:01,280 --> 00:02:05,559 Speaker 1: real service, and real clarity. 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Protect what matters, plan with 56 00:03:22,480 --> 00:03:27,680 Speaker 1: clarity k e PM dot com slash ben or seven 57 00:03:27,760 --> 00:03:31,840 Speaker 1: two zero six oh five thirty nine hundred. That's seven 58 00:03:31,919 --> 00:03:36,240 Speaker 1: two zero six oh five thirty nine hundred. Kurt Elliott 59 00:03:36,280 --> 00:03:40,240 Speaker 1: Precious Metals Smarter Metal Investing starts with them. It's the 60 00:03:40,280 --> 00:03:43,280 Speaker 1: forty seven Morning Update and it starts right now. 61 00:03:43,520 --> 00:03:44,560 Speaker 3: Story number one. 62 00:03:44,960 --> 00:03:49,120 Speaker 1: In a major move to protect all Americans, the White 63 00:03:49,160 --> 00:03:52,280 Speaker 1: House we're now being told is preparing a new executive 64 00:03:52,440 --> 00:03:57,760 Speaker 1: order that would find banks, small, medium, and the largest 65 00:03:58,040 --> 00:04:02,720 Speaker 1: for dropping customers for political reasons. The Wall Street Journal 66 00:04:02,800 --> 00:04:07,280 Speaker 1: is reporting on it now. The order directs bank regulators 67 00:04:07,320 --> 00:04:12,120 Speaker 1: to investigate whether any financial institutions might have violated the 68 00:04:12,480 --> 00:04:18,880 Speaker 1: Equal Credit Opportunity Act, antitrust laws, or consumer financial protection laws, 69 00:04:19,080 --> 00:04:22,000 Speaker 1: the Journal reported, citing a draft text of the order. 70 00:04:22,200 --> 00:04:25,719 Speaker 1: The order, which could be signed as early as this week, 71 00:04:26,000 --> 00:04:31,599 Speaker 1: provides for monetary penalties, consent decrees, or other disciplinary measures 72 00:04:31,640 --> 00:04:36,760 Speaker 1: against violators. The order also directs regulators to strike policies 73 00:04:37,080 --> 00:04:41,600 Speaker 1: they have that might have contributed to banks dropping certain customers, 74 00:04:41,760 --> 00:04:45,599 Speaker 1: and requires the Small Business Association to review the practices 75 00:04:46,200 --> 00:04:51,359 Speaker 1: of banks that guarantee the agency's loans. Now, this is 76 00:04:51,400 --> 00:04:56,400 Speaker 1: a major move for protecting specifically conservatives that have been 77 00:04:56,480 --> 00:05:01,080 Speaker 1: debanked by large banks and small bank alike. There are 78 00:05:01,120 --> 00:05:04,000 Speaker 1: many in the Second Amendment community that have also been 79 00:05:04,120 --> 00:05:08,680 Speaker 1: debanked as well. There are Christian organizations that have been debanked, 80 00:05:08,880 --> 00:05:14,960 Speaker 1: missionary organizations that have been debanked, and conservative organizations that 81 00:05:15,000 --> 00:05:19,200 Speaker 1: have been debanked, especially during the Biden years. Now, the 82 00:05:19,240 --> 00:05:23,400 Speaker 1: President saying you can't do that, it's un American and 83 00:05:23,440 --> 00:05:25,919 Speaker 1: we're not going to allow it to stand. Now. Reuters 84 00:05:26,000 --> 00:05:29,040 Speaker 1: is also reporting at this hour that the White House 85 00:05:29,080 --> 00:05:34,159 Speaker 1: is apparently working on this at a rapid pace because 86 00:05:34,200 --> 00:05:36,599 Speaker 1: they believe it is time to hold banks accountable that 87 00:05:36,680 --> 00:05:41,919 Speaker 1: targeted people specifically for their political beliefs. Now, after speaking 88 00:05:41,920 --> 00:05:44,880 Speaker 1: with people at the White House late this afternoon, here's 89 00:05:44,880 --> 00:05:47,160 Speaker 1: what I can also tell you. The White House, I've 90 00:05:47,160 --> 00:05:50,120 Speaker 1: been told, is in fact preparing an executive order that 91 00:05:50,160 --> 00:05:54,919 Speaker 1: would empower the regulators to penalize banks for quote, terminating 92 00:05:55,040 --> 00:06:00,760 Speaker 1: customer relationships based on political beliefs. These penalty could include 93 00:06:00,800 --> 00:06:05,760 Speaker 1: hefty fines, I'm being told, and also disciplinary actions. Now, 94 00:06:05,960 --> 00:06:10,800 Speaker 1: financial regulators would be instructed to investigate potential breaches not 95 00:06:10,839 --> 00:06:14,159 Speaker 1: only the Equal Credit Opportunity Act I mentioned earlier and 96 00:06:14,240 --> 00:06:19,680 Speaker 1: antitrust laws, but also consumer protection regulations by banks accused 97 00:06:19,680 --> 00:06:24,520 Speaker 1: of politically motivated actions against those who had bank accounts 98 00:06:24,560 --> 00:06:29,279 Speaker 1: at their bank. The draft order also calls on policymakers 99 00:06:29,320 --> 00:06:33,359 Speaker 1: to revoke existing internal bank policies that actually may have 100 00:06:33,440 --> 00:06:37,920 Speaker 1: led to politically motivated account closures, and directs the Small 101 00:06:37,920 --> 00:06:42,560 Speaker 1: Business Administration to review loan back practices that could involve 102 00:06:42,600 --> 00:06:46,680 Speaker 1: similar issues as well. Now, although no banks are mentioned 103 00:06:46,760 --> 00:06:50,880 Speaker 1: by name, the order appears tied to public criticism of 104 00:06:50,960 --> 00:06:55,640 Speaker 1: major institutions such as JP, Morgan Chase and Bank of 105 00:06:55,680 --> 00:07:00,840 Speaker 1: America accused of severing ties with conservative club giance, a 106 00:07:01,040 --> 00:07:03,960 Speaker 1: charge that of course they strongly deny, and the Wall 107 00:07:04,000 --> 00:07:08,120 Speaker 1: Street Journal has reported on this extensively recently. Now, according 108 00:07:08,160 --> 00:07:11,200 Speaker 1: to others, the order could be signed like I said 109 00:07:11,440 --> 00:07:16,160 Speaker 1: this week, potentially spelling major trouble for big banks. Now. 110 00:07:16,200 --> 00:07:22,640 Speaker 1: This move reflects Donald Trump's ongoing concern, especially from conservative circles, 111 00:07:22,800 --> 00:07:27,240 Speaker 1: about political bias or debanking and financial services. It forms 112 00:07:27,360 --> 00:07:31,960 Speaker 1: part of a broader regulatory agenda to ensure economic institutions 113 00:07:32,000 --> 00:07:36,440 Speaker 1: remain neutral and customers aren't penalized for political beliefs. At 114 00:07:36,480 --> 00:07:38,320 Speaker 1: the end of the day, the president of the United 115 00:07:38,320 --> 00:07:40,880 Speaker 1: States of America wants to make sure you're not targeted 116 00:07:41,120 --> 00:07:44,360 Speaker 1: because you voted for him, and in the future, to 117 00:07:44,400 --> 00:07:46,560 Speaker 1: make sure that no matter who you vote for, you're 118 00:07:46,600 --> 00:07:49,640 Speaker 1: not targeted by a bank. Now, the order has not 119 00:07:49,880 --> 00:07:52,920 Speaker 1: been officially issued yet, and there's a very good chance 120 00:07:52,960 --> 00:07:55,960 Speaker 1: there will be changes that are made in the coming 121 00:07:56,080 --> 00:08:01,400 Speaker 1: days and hours. Banks and regulators also are remaining relatively 122 00:08:01,520 --> 00:08:04,760 Speaker 1: quiet and the White House is saying they're willing to talk, 123 00:08:04,880 --> 00:08:07,640 Speaker 1: but there's many that are scared what may be coming 124 00:08:07,680 --> 00:08:11,119 Speaker 1: down the pipeline. And the big question is this, which 125 00:08:11,320 --> 00:08:15,760 Speaker 1: agencies are actually going to lead enforcement oversight I'm being 126 00:08:15,760 --> 00:08:18,960 Speaker 1: told is likely going to be by federal banking regulators, 127 00:08:19,120 --> 00:08:24,600 Speaker 1: the Department of Justice, and the SPA. Implementation details are 128 00:08:24,720 --> 00:08:27,600 Speaker 1: going to work through the White House and the hours 129 00:08:27,600 --> 00:08:30,320 Speaker 1: and days ahead at the end of the day. What 130 00:08:30,360 --> 00:08:33,000 Speaker 1: does this mean, Well, it means that Donald Trump's looking 131 00:08:33,000 --> 00:08:36,640 Speaker 1: out for conservatives that have been targeted solely because of 132 00:08:36,800 --> 00:08:41,559 Speaker 1: our political beliefs, and that's exactly why so many Americans. 133 00:08:41,080 --> 00:08:43,000 Speaker 3: Voted for now story number two. 134 00:08:43,520 --> 00:08:49,000 Speaker 1: Over fifty Texas House Democrats, including sixty two members total 135 00:08:49,040 --> 00:08:53,360 Speaker 1: in the lower chamber, have left Texas, traveling to Illinois, 136 00:08:53,520 --> 00:08:56,800 Speaker 1: New York, and Massachusetts. Well, at least they're consistent up 137 00:08:56,800 --> 00:09:02,200 Speaker 1: there being sanctuary states and cities to deny quorum and 138 00:09:02,360 --> 00:09:06,840 Speaker 1: block a GOP back congressional redistricting plan that would likely 139 00:09:06,840 --> 00:09:10,160 Speaker 1: add up to five new Republican leaning US House seats. 140 00:09:10,520 --> 00:09:13,200 Speaker 1: That is the claim by Democrats and why they're now 141 00:09:13,240 --> 00:09:17,840 Speaker 1: fleeing the state. Now, this strategy mirrors previous walkouts in 142 00:09:17,880 --> 00:09:20,920 Speaker 1: twenty twenty one and in two thousand and three in Texas, 143 00:09:21,120 --> 00:09:25,240 Speaker 1: where the quorum rules were used to slow down legislation. 144 00:09:25,600 --> 00:09:29,800 Speaker 1: Governor Greg Abbott has now responded, issuing a three pm 145 00:09:29,960 --> 00:09:36,199 Speaker 1: Monday ultimatum for Democrats to return or face serious consequences. 146 00:09:36,480 --> 00:09:39,640 Speaker 1: He threatened to quote invoke a twenty twenty one AG 147 00:09:39,840 --> 00:09:44,480 Speaker 1: opinion allowing courts to clear seats vacant due to intentional 148 00:09:44,559 --> 00:09:49,000 Speaker 1: quote abandonment of office. He also could seek civil arrest 149 00:09:49,120 --> 00:09:54,400 Speaker 1: warrants for absent members, valid only however, inside of Texas, 150 00:09:54,480 --> 00:09:59,000 Speaker 1: which is why so many Democrats have fled to liberal states. Also, 151 00:09:59,280 --> 00:10:03,760 Speaker 1: he can invest gave potential felony charges for fundraising to 152 00:10:03,920 --> 00:10:06,600 Speaker 1: pay the five hundred dollars a day fines that are 153 00:10:06,640 --> 00:10:10,800 Speaker 1: being imposed by the House rules. Now, the Texas House 154 00:10:10,920 --> 00:10:15,400 Speaker 1: passed an eighty five to six vote authorizing the Sergeant 155 00:10:15,400 --> 00:10:18,920 Speaker 1: in Arms to issue civil arrest warrants for those that 156 00:10:18,960 --> 00:10:23,719 Speaker 1: were purposely absent. Now, breaking quorum, by the way, is 157 00:10:23,760 --> 00:10:29,800 Speaker 1: not a crime, making extradition impossible. Abbot cannot legally compel 158 00:10:29,880 --> 00:10:34,200 Speaker 1: lawmakers to return from other states directly, is what is 159 00:10:34,240 --> 00:10:38,400 Speaker 1: being said now by Politico. Declarations of vacancy would require 160 00:10:38,480 --> 00:10:43,520 Speaker 1: individual court action in each lawmaker's district, potentially years of 161 00:10:43,559 --> 00:10:47,280 Speaker 1: litigation and would delay redistrict came beyond the December twenty 162 00:10:47,400 --> 00:10:51,679 Speaker 1: twenty five deadline for the twenty twenty six primaries. And 163 00:10:51,720 --> 00:10:56,439 Speaker 1: that's exactly why Democrats are playing this game. Texas Democrats 164 00:10:56,520 --> 00:11:00,800 Speaker 1: maintain they are quote standing up for democratic norms, not 165 00:11:01,000 --> 00:11:04,800 Speaker 1: running away. You can decide how ridiculous they actually are 166 00:11:04,800 --> 00:11:07,920 Speaker 1: in your own minds. But many of the representatives are 167 00:11:07,960 --> 00:11:13,160 Speaker 1: now taking more heat. Why because they are prioritizing the 168 00:11:13,559 --> 00:11:19,160 Speaker 1: democrats agenda over prioritizing flood relief. Yes, that was one 169 00:11:19,160 --> 00:11:21,800 Speaker 1: of the issues on the table that they're now fleeing from. 170 00:11:22,080 --> 00:11:25,320 Speaker 1: I'll give you just another example of also how many 171 00:11:25,360 --> 00:11:29,120 Speaker 1: liberal cities are helping them and states. The Illinois governor 172 00:11:29,400 --> 00:11:34,640 Speaker 1: Pritzker publicly back the lawmaker's actions, calling them a courageous 173 00:11:34,880 --> 00:11:39,760 Speaker 1: defense of democracy and saying welcome to Illinois. Democrats are 174 00:11:39,840 --> 00:11:44,880 Speaker 1: characterizing the Governor of Texas Abbot's threats as quote smoking mirrors, 175 00:11:44,960 --> 00:11:49,120 Speaker 1: pointing out that constitutional tools like quorum breaks are legitimate 176 00:11:49,200 --> 00:11:53,840 Speaker 1: devices they say to use under Texas law. Here's more 177 00:11:53,880 --> 00:11:56,080 Speaker 1: of what Governor Abbott had to say about what the 178 00:11:56,120 --> 00:11:59,280 Speaker 1: Democrats are doing and now what they're going to face. 179 00:12:00,160 --> 00:12:04,680 Speaker 2: Very simply, it would be bribery if any lawmaker took 180 00:12:04,840 --> 00:12:08,600 Speaker 2: money to perform or to refuse to perform and act 181 00:12:08,960 --> 00:12:13,560 Speaker 2: in the legislature. And the reports are these legislators have 182 00:12:13,640 --> 00:12:18,880 Speaker 2: been both. They sought money and they offered money to 183 00:12:18,920 --> 00:12:22,840 Speaker 2: skip the vote to leave the legislature to take a 184 00:12:23,160 --> 00:12:27,200 Speaker 2: legislative act. That would be bribery. And so the facts 185 00:12:27,200 --> 00:12:29,640 Speaker 2: will have to come out. But I think based upon 186 00:12:29,760 --> 00:12:34,520 Speaker 2: comments made by legislators themselves, they face a possibility facing 187 00:12:34,559 --> 00:12:37,040 Speaker 2: bribery charges, which is a second degree felony in the 188 00:12:37,040 --> 00:12:39,920 Speaker 2: state of Texas. There's one way to cure that, and 189 00:12:39,960 --> 00:12:42,160 Speaker 2: that is if they get back to the state of 190 00:12:42,200 --> 00:12:45,240 Speaker 2: Texas and make quorum today are hearing that we have 191 00:12:45,360 --> 00:12:48,800 Speaker 2: at the three o'clock they can cure themselves of any 192 00:12:48,880 --> 00:12:52,480 Speaker 2: quid pro quo that would subject them to potential bribery charges. 193 00:12:52,800 --> 00:12:56,199 Speaker 1: Well, guess what Democrats decided not to come back by 194 00:12:56,200 --> 00:13:00,000 Speaker 1: three o'clock and why because apparently they love the idea 195 00:13:00,120 --> 00:13:04,160 Speaker 1: of being arrested and saying they're being politically persecuted. Now, 196 00:13:04,200 --> 00:13:07,600 Speaker 1: the one takeaway from this is pretty simple and clear. 197 00:13:08,160 --> 00:13:11,440 Speaker 1: You can expect Democrats to probably pull the same exaction 198 00:13:11,600 --> 00:13:15,160 Speaker 1: in against you're witnessing right now in other states around 199 00:13:15,200 --> 00:13:19,280 Speaker 1: the country, and they're using Texas as the blueprint for it. 200 00:13:19,480 --> 00:13:22,160 Speaker 3: Thank you for listening to the forty seven Morning Update 201 00:13:22,320 --> 00:13:26,400 Speaker 3: with Ben Ferguson. Please make sure you hit subscribe wherever 202 00:13:26,480 --> 00:13:29,480 Speaker 3: you're listening to this podcast right now and for more 203 00:13:29,520 --> 00:13:33,280 Speaker 3: in depth news, also subscribe to the Ben Ferguson podcast 204 00:13:33,559 --> 00:13:35,440 Speaker 3: and we will see you back here tomorrow.