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Speaker 1: Please raise your right hand and repeat after me, I,

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Speaker 1: Donald John Trump, do solemnly swear, I, Donald John Trump,

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Speaker 1: do solemnly swear that I will faithfully execute, that I

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Speaker 1: will faithfully execute the.

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Speaker 2: Office of President of the United States.

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Speaker 1: The office of President of the United States, and will

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Speaker 1: to the best of my ability, and will prove the

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Speaker 1: best of my ability preserve, protect and defend, preserve, protect,

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Speaker 1: and defend the Constitution of the United States, the Constitution

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Speaker 1: of the United States.

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Speaker 2: So help me, God, So help me God. Congratulations motifal.

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Speaker 3: Trump exhaustion Syndrome and dives into the NonStop and frantic

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Speaker 3: development surrounding President Trump's first year back in office and

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Speaker 3: how Americans just can't seem to keep up. The report

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Speaker 3: chronicles Trump's attempts to expand his power over the past

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Speaker 3: year and why seemingly no one has been able to

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Speaker 3: stop him.

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Speaker 4: Again, I would say, this is the same kind of

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Speaker 4: hysteria that we heard on April second. There was a panic,

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Speaker 4: and what I am urging everyone here to do is

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Speaker 4: sit back, take a deep breath, and let the things

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Speaker 4: play out. As I said on April second, the worst

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Speaker 4: thing countries can do is escalate against the United States.

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Speaker 5: It feels Joe. I'm sitting here in Devill's waiting for

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Speaker 5: Storm Trump to arrive, and nobody really knows. Is he

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Speaker 5: going to come here with a message that is more conciliatory,

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Speaker 5: having said he had a good conversation with Martin rat

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Speaker 5: to the Second General of NATO, or is he going

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Speaker 5: to come here and escalate things. I mean, if this

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Speaker 5: is a kind of reality show, what's the next plot

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Speaker 5: twists going to be that he's going to offer us?

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Speaker 2: And really Europeans are bewildered.

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Speaker 5: But I think what they have taken on board is

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Speaker 5: that this is a permanent shift, and I think that's

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Speaker 5: something that's taken Europe a while to adjust to.

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Speaker 2: But you just heard.

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Speaker 5: I was listening to the President of the European Union,

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Speaker 5: Slavonderlion here in Davos. Given in the opening remarks, Here's

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Speaker 5: what she said. Nostalgia is part of the human condition.

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Speaker 5: But nostalgia will not bring back the old order. So

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Speaker 5: Europe realizes it has to prepare to defend itself. Now,

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Speaker 5: it has to deal with this emergency over Greenland, and

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Speaker 5: you've got President Trump attacking some of his closest allies.

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Speaker 5: We've said for a while Joe, he has a better

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Speaker 5: relationship with Macron. He has a better relationship with Starmer.

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Speaker 5: When he goes and releases their private communications and attacks

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Speaker 5: Kiir Starmer for a great act of stupidity, it doesn't

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Speaker 5: do much to shore up his relationships in Europe. And

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Speaker 5: all of this, as we've been saying, to the benefit

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Speaker 5: of Russia, to the benefit of China.

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Speaker 6: And the decision to dealing the US dollar from gold

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Speaker 6: in an instant, the foundations of the Bretton Wood system

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Speaker 6: and the entire global economic order set up after the

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Speaker 6: war effectively collapsed. But it also had two major effects.

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Speaker 6: It inadvertently created the conditions for what would become a

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Speaker 6: truly global order, and it provided a sharp lesson for

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Speaker 6: Europe and on the need to strengthen its economic and

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Speaker 6: political power. It was a warning to reduce our dependencies,

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Speaker 6: in this case on a foreign currency.

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Speaker 2: The world may be.

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Speaker 6: Very different today, without any question, but I believe the

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Speaker 6: lesson is very much the same that the geopolitical and

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Speaker 6: must serve as an opportunity.

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Speaker 7: For zero Okay, welcome.

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Speaker 8: It is a Tuesday, twenty January 're Eveler, twenty twenty six,

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Speaker 8: one year to the day a president Trump returning to

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Speaker 8: set things right. We have a longer cold open as magnificent.

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Speaker 8: Want to compliment my team for the first part, just magnificent,

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Speaker 8: But we have a very special guest and we want

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Speaker 8: to get to it. It's the Secretary Treasury, Scott Besson.

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Speaker 8: Mister Secretary, you led the advance guard over there before

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Speaker 8: the president arrived. Your message yesterday was taking deep breath

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Speaker 8: Ursula vandalae and the others saying, hey, we understand this

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Speaker 8: a permanent shift. We have to think about this permanently.

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Speaker 8: The markets are You've been promoting and saying, hey, look,

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Speaker 8: the Trump trade is a smart trade. The markets this

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Speaker 8: morning looks like they may be questioning that. Dalio came

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Speaker 8: out and said we may be going into capital wars

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Speaker 8: where Europe going to reallocate away from the United States.

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Speaker 8: Your assessment, because you start off there was a lot

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Speaker 8: of swagger when the United States showed up. Is there

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Speaker 8: going to be continued swagger when the president arrives?

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Speaker 4: Steve good to be with you, and you know I

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Speaker 4: can tell you here in Dallas remember their paper a

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Speaker 4: few years ago that we should all be eating insects,

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Speaker 4: and given the food here, I think i'd rather eat insects.

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Speaker 4: So but but to be serious, the President's got plenty

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Speaker 4: to swagger about. It's been an incredible year, peace steels,

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Speaker 4: tax deals, trade deals that the Atlanta Fed GDP numbers

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Speaker 4: five point three percent forward inflation looks like it could

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Speaker 4: be at the Fed's target by the end of the summer.

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Speaker 4: And we've got the hottest economy on Earth now. The

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Speaker 4: Europeans are very good at value signaling. And if you remember,

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Speaker 4: probably their most strident moment, the most striident moment against

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Speaker 4: Russia Ukraine was when they they put the Ukraine shown

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Speaker 4: the Ukraine flag up on the side of the EU

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Speaker 4: Parliament building. I am sure the Vladimir Putin was quaking

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Speaker 4: in his in his boots. So look, the Europeans, they

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Speaker 4: like to talk in these big terms with it. They

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Speaker 4: like to talk. They like to talk in these big terms,

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Speaker 4: and there are allies they want to be under the

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Speaker 4: US umbrella and they will be.

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Speaker 8: Let's go to I want to talk about Nursa Vandalaie.

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Speaker 8: She kind of gave a history of the US currency

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Speaker 8: as Breton woods, and you know about the Nixon coming

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Speaker 8: off the gold standard.

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Speaker 7: She implied that that's actually going to be in question.

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Speaker 8: When she talked about a new geopolitical re alignment, she

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Speaker 8: implied that this has to do with the US currency.

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Speaker 8: Then Ray Dalio came up and said, Hey, you may

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Speaker 8: see a reallocation. We may be heading into a time

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Speaker 8: of capital wars under your stewardship. It's been quite evident

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Speaker 8: with the President's strategy and you executing that the Europeans

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Speaker 8: have piled into the have piled into what you call

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Speaker 8: the Trump trade, the America First trade, the Maga trade.

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Speaker 8: Are you concerned at all, not just the geopolitical re alignment?

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Speaker 7: But I don't know.

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Speaker 8: It's one hundred trillion dollars of assets. I think the

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Speaker 8: European z owner of our stocks and our bonds, Sir.

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Speaker 4: Well Steve a couple of things, And I wanted to

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Speaker 4: do backtrack for a moment because I don't believe that

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Speaker 4: the markets are going down, or I don't believe the

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Speaker 4: primary catalyst for the market going down is the kerfuffle

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Speaker 4: over Greenland. I believe the markets are going down because

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Speaker 4: the Japanese bond market had a six standard deviation move

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Speaker 4: for the past two days that would be in their

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Speaker 4: tenure bonds.

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Speaker 2: I've been in touch.

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Speaker 4: With my economic counterparts in Japan and urge them to

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Speaker 4: take the necessary measures to stabilize their bond market. But

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Speaker 4: that's spilling all over into all bond markets. German yields

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Speaker 4: are up, French yields are up, US yields are up,

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Speaker 4: and again it's mostly the Japanese bond market. Got nothing

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Speaker 4: to do with Greenland. And the Europeans can shake their fists.

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Speaker 4: They love regulation. They have low growth.

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Speaker 2: And our message to them has been.

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Speaker 4: It come growth us be part of our innovation economy

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Speaker 4: because Steve imagined this that Europe has no cloud of

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Speaker 4: its own.

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Speaker 2: It's the US and China.

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Speaker 4: How is it that four hundred million people haven't been

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Speaker 4: able to develop that? And it's just this overregulation and

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Speaker 4: not my words. Mary O Druggy, the former Prime Minister

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Speaker 4: of Italy former head of the ECB, said issued a

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Speaker 4: gigantic report called the Droggy Competitiveness Report, and he said

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Speaker 4: that he believes that goods intra Europe are cararaffed at

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Speaker 4: about fifty percent, services are traffed at one hundred percent.

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Speaker 4: So it is just this regulatory morass that Europe they

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Speaker 4: like to export regulations. I've had many of our great

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Speaker 4: US tech executives. Some I know you take shots at

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Speaker 4: rightly tell me that it's easier to do business in

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Speaker 4: China than in the EU.

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Speaker 8: A lot of people don't realize you're expert. He's in

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Speaker 8: Asia and East Asia. I want to go to Japan

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Speaker 8: for a minute, since it's such a significant ally for US,

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Speaker 8: and the new prime minister has been really I think

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Speaker 8: President Trump's own strongest supporter. She announced the snap election,

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Speaker 8: but she also announced she was going to have a

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Speaker 8: new economic model. Is that what's driving this terminal in

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Speaker 8: the Japanese bond market or the world bond market? Is

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Speaker 8: her new plan or the fact she called a snap

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Speaker 8: election because she's writing a wave of popularity and she's

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Speaker 8: quite variantly anti CCP and very pro the American alliance

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Speaker 8: in East Asia, between Korea, Japan, you know, Taiwan, in

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Speaker 8: the United States.

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Speaker 4: Look, the prime minister is fantastic, she's very popular. She's

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Speaker 4: called this snap election to give her a longer mandate.

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Speaker 4: But I think that they failed to recognize ab Namis

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Speaker 4: was a reflationary program brought Japan out of twenty years

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Speaker 4: of a malaise, a deflationary malaise. But that program has

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Speaker 4: been running for fourteen years. So what Japan doesn't need

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Speaker 4: is more stimulus. What they do need is to let

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Speaker 4: the boj do their job. So I'm confident that she

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Speaker 4: the economic team will do whatever it takes to stabilize

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Speaker 4: the message.

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Speaker 8: You walked the audience through for months and months and

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Speaker 8: months to say, hey, look the big beautiful bills, a

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Speaker 8: supply side tax cut.

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Speaker 7: Here's the bet we're making.

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Speaker 8: It's the last chance we've got to really do supply

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Speaker 8: side to focus on manufacturing, growing manufacturing.

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Speaker 7: Also, the tariff deals.

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Speaker 8: You had a brilliant defensive, but I think we played

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Speaker 8: some clips at the top of the cold open about

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Speaker 8: redoing the commercial relationships and how significant that was working

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Speaker 8: also to drive manufacturing.

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Speaker 7: Today. I think yesterday they announced.

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Speaker 8: The deficit for last year over two tree dollars, up

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Speaker 8: to thirty nine trillion dollars debt. You've told our audience

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Speaker 8: for a long time it said, hey, look, we've got

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Speaker 8: our last chance to try to grow our way out

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Speaker 8: of here.

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Speaker 7: Now the Atlanta.

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Speaker 8: Fed is saying real growth of in particularly the private sectors,

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Speaker 8: over five percent. Do you still hold with that that

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Speaker 8: that you and President Trump believe we can actually grow

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Speaker 8: our way out of here and that somehow in some

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Speaker 8: future time this year or later this year, next year,

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Speaker 8: we're going to start getting our arms around the stimulus

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Speaker 8: we're putting into the economy. The two treeion dollar deficits, well.

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Speaker 4: Steve, for the calendar year, the deficit actually went down

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Speaker 4: by about two hundred billion, and a big reason for

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Speaker 4: that was President Trump's tariffs. So we had a fiscal contraction,

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Speaker 4: and then we grew the GDP a call it three

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Speaker 4: percent with about two and a half percent inflation. So

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Speaker 4: the really important number to look at here is the

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Speaker 4: deficit to GDP. So twenty twenty four deficit to GDP

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Speaker 4: calendar year, not fiscal year was six point nine percent.

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Speaker 4: This past year twenty twenty five five point four percent,

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Speaker 4: so we have made a substantial dent in the deficit

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Speaker 4: to GDP. That's the important number that shows that we

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Speaker 4: are growing our way out of this. So we could

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Speaker 4: we brought the numerator down and we grew the denominator,

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Speaker 4: and if we keep this up, we're.

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Speaker 2: Well on my We're well on the way to my.

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Speaker 4: Three percent deficit to GDP by the time the president

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Speaker 4: leaves office. And Steve, Steve, the other thing that's I

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Speaker 4: just want to say this. The other thing that's important

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Speaker 4: here too, the other thing that's supporting here too is

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Speaker 4: what is the reason we're not making more product us

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Speaker 4: on the deficit is because we are doing the immediate

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Speaker 4: expensing of equipment, of factory structures and of farm structures.

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Speaker 4: And that is productive, that is productive spending, and so

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Speaker 4: we take a hack tax hit on that upfront that

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Speaker 4: business people, any of your viewers who have small businesses,

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Speaker 4: they buy an office computer, they can write one hundred

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Speaker 4: percent of it off. They build a new farm shed,

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Speaker 4: they can write one hundred percent of that off. But

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Speaker 4: you're increasing the tax revenues the year after the following years.

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Speaker 4: So it's not just social spending that goes out the

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Speaker 4: door never to be seen again. We are pulling the

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Speaker 4: rubber band back further and further, so our economic potential

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Speaker 4: gets bigger and bigger.

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Speaker 8: You know, we've heard numbers around nineteen tree here, at

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Speaker 8: nine tree here or whatever. But are you comfortable, because

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Speaker 8: this is the key to the plane. Are you comfortable

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Speaker 8: you're seeing from the big beautiful bill and from the

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Speaker 8: imposition of the terrorists, of the redoing commercial relationships, the

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Speaker 8: capital coming back into the United States and starting to

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Speaker 8: basically make the investments.

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Speaker 7: I mean, the last time.

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Speaker 8: I think we caught up with you was at a

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Speaker 8: factory in South Carolina where I think it was a

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Speaker 8: German company was putting a major capital expenditure into revamp.

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Speaker 7: I think it was around magnets and rare earths.

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Speaker 8: Are you comfortable right now and when you advise the

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Speaker 8: president that this is going down the path and that

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Speaker 8: you say, because the Semaphore just had all the Wall

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Speaker 8: Street economists I think twenty of them did their assessment. Surprisingly,

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Speaker 8: they back up you and the president of what twenty

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Speaker 8: twenty six is going to look like?

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Speaker 4: Well, I think it could be even bigger. And the

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Speaker 4: last time I joined you within Sumter, South Carolina. It

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Speaker 4: is a German company but owned by an investor group

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Speaker 4: in Texas, so really an American company that went out

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Speaker 4: a couple of years ago and talk about great foresight.

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Speaker 4: They saw what was coming with the Chinese with the magnets,

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Speaker 4: so they went to Germany acquired this company, a company

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Speaker 4: has production facilities in Germany that come to Sumter, South Carolina.

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Speaker 4: For the first time in twenty five years, us on

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Speaker 4: us Soil made a rare earth magnet they're going to

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Speaker 4: be producing a lot more.

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Speaker 2: We will be independent.

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Speaker 4: You can have sovereignty without controlling your supply chain. And

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Speaker 4: we're seeing that again and again because after I was

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Speaker 4: on your show, I went down to my hometown Charleston,

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Speaker 4: South Carolina. Boeing is expanding their Dreamliner factory there by

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Speaker 4: fifty percent due to all the new orders that President

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Speaker 4: Trump drummed up as part of the trade deals. Every

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Speaker 4: one of the trade deals, not only are we getting

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Speaker 4: tariff income, but we are also encouraging ag purchases, substantial

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Speaker 4: industrial purchases.

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Speaker 2: And Steve on the.

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Speaker 4: Other side, with President Trump's leadership and Jamison Greer's encyclopedic

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Speaker 4: knowledge of trade, he has just gone through and the

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Speaker 4: cut out all the tariffs that our American exporters pay

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Speaker 4: and all the non tariff trade barriers. So we saw

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Speaker 4: a big in the third quarter GDP. First time in

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Speaker 4: years we saw positive contribution to trade instead of a

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Speaker 4: trade deficit.

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Speaker 2: When I started an.

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Speaker 4: Investment business nineteen eighties nineteen nineties, trade always had a

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Speaker 4: positive contribution. Then after the China shock it never did.

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Speaker 4: And I think we can get used to having a

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Speaker 4: positive contribution from trade instead of as ross Perot said

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Speaker 4: that giant sucking sound.

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Speaker 8: That's what shocks me when you're over there and you've

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Speaker 8: got the geopolitical issues about Greenland and Canada and the

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Speaker 8: Arctic North and things that President Trump is geopolitically trying

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Speaker 8: to work out, and you're trying to assist on both

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Speaker 8: the trade deals and the finances of it. China announced

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Speaker 8: a over a one treeion dollar trade surplus.

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Speaker 7: A lot of that comes from Europe.

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Speaker 8: Now, I mean, do the Europeans not really understand the

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Speaker 8: kind of geoeconomic logic of our block and obviously the

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Speaker 8: American people it's time for the Europeans to stand up

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Speaker 8: and pay more for their own defense. But are they

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Speaker 8: missing the fact of the interconnectivity of our capital markets,

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Speaker 8: the interconnectivity of our commerce, and that the sucking sound

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Speaker 8: you've got, particularly for them and especially for places like

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Speaker 8: Germany is now is now the Chinese Communist Party?

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Speaker 7: Do they fail to understand that?

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Speaker 4: Steve, It's a complete understanding. And it goes back to

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Speaker 4: I think it was twenty eighteen when President Trump met

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Speaker 4: with the head of NATO and said.

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Speaker 2: Why are you doing nord Stream two?

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Speaker 4: You were going to regret, you were going to regret

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Speaker 4: they have this cheap Russian oil, and they did so.

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Speaker 4: As I continually say, the Europeans are still sending money

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Speaker 4: to Russia for energy in the ultimate amount, like you

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Speaker 4: couldn't make it up.

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Speaker 2: It is so absurd.

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Speaker 4: They are financing the war against themselves. And so it's

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Speaker 4: the same kind of thing that I told when we're

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Speaker 4: doing the negotiations with our European partners last summer, I

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Speaker 4: told them we have the terra fall up on China,

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Speaker 4: and these goods are going to come somewhere. They're going

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Speaker 4: to go to Canada, going to go to Australia, They're

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Speaker 4: going to go to the UK, and mostly they're going

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Speaker 4: to come to Europe because the Global South, the developing

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Speaker 4: markets can absorb them.

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Speaker 2: And guess what, they've all come ashore in Europe.

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Speaker 4: And there was a headline in the Wall Street Journal

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Speaker 4: that was supposed to be derogatory towards the US said,

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Speaker 4: Germany the trades more with China than it does with

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Speaker 4: the US. Well, guess what that is a bad statistic

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Speaker 4: for Germany because they are being flooded. Steve forty percent

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Speaker 4: four zero percent of the cars at the Munich Auto

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Speaker 4: Show were Chinese cars. I was watching TV here late

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Speaker 4: last night and Bosh legendary autoparts supplier here. I think

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Speaker 4: they're laying off thirteen or fifteen thousand people, and they're

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Speaker 4: all these signs saying whatever happened to the Bosh family, Well,

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Speaker 4: Bosh family got exported into China.

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Speaker 8: Larry think you know we've argued it for a long

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Speaker 8: time about go ahead, sir, go ahead, No, no, no.

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Speaker 4: I was going to say, they will eventually come around,

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Speaker 4: but it's going to be slow, it's going to be painful, and.

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Speaker 2: I wish him the bad.

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Speaker 4: We are still NATO allies, that the NATO relationship is strong,

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Speaker 4: and President Trump just believes that the US needs Greenland

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Speaker 4: because no one will they.

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Speaker 2: Make a move on it.

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Speaker 4: Then if the Europeans have it, if Denmark has it,

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Speaker 4: what if Russia, what if China they makes a move,

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Speaker 4: then we're part of NATO will get pulled in. Isn't

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Speaker 4: it much better that in advance just to cede it

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Speaker 4: to the US and then it has US protection. Because

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Speaker 4: I can tell you I believe that what President Trump

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Speaker 4: is influenced by is our great allies in the UK.

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Speaker 4: They have a base on an island, we share a

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Speaker 4: military facility on an island called Diego Garcia, and the

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Speaker 4: UK is having that island to Mauritius. And guess who

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Speaker 4: is behind Mauritius The Chinese. So we needed to own

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Speaker 4: that island, but the Brits are giving it up.

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Speaker 7: No, we're actually as sent as you're off. We're going

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Speaker 7: to pivot.

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Speaker 8: We've been arguing about this Diego Garcia situation for I'm

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Speaker 8: very familiar with it, being a Pacific fleet sailor that

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Speaker 8: had to cross the Indian Ocean and get to the

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Speaker 8: North Arabian Sea. It's absolutely ridiculous. And President Trump is

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Speaker 8: now finally go out and said it's ridiculous. Last thing, Secretary,

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Speaker 8: I know you're busy, but Larry Fink, the new mayor

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Speaker 8: of Davos and someone you know quite well, is said

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Speaker 8: today about and something you've been very focused on. Dave

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Speaker 8: Walsh on war Room, who's now in the government's been

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Speaker 8: very focused on this is about the data centers. Larry

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Speaker 8: Fink finally got old time religion. He said today that hey,

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Speaker 8: these data centers can have intermittent power that solar and wind.

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Speaker 8: Is like he's preaching out of President Trump's the gospel.

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Speaker 8: According to Trump on energy. He says, we can't do

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Speaker 8: this with intermittent power. That solar and wind is not

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Speaker 8: going to help us here. We've got to rethink this.

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Speaker 8: I know you've been very engaged with the tech community

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Speaker 8: to figure this out. Both also the water needs. What

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Speaker 8: is Secretary Besance advice to Larry Fink.

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Speaker 4: Listen to President Trump. Listen to President Trump because President

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Speaker 4: trump idea with the data centers was to allow them

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Speaker 4: to produce our own power. And if you look all

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Speaker 4: over Steve that they're facilities, nuclear facilities that are being reopened.

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Speaker 4: They're being forced to create their own power supplies.

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Speaker 2: And I think.

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Speaker 4: Because of this public backlash, we're going to see some

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Speaker 4: of the data centers, the communities that are near them

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Speaker 4: may actually see their power bills go down for.

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Speaker 2: A couple of years. But who thought that that was

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Speaker 2: a good idea.

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Speaker 4: I was just a Spanish business person, and I don't

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Speaker 4: know if you recall the lights went out in Spain

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Speaker 4: because they were so dependent on the on solar, so

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Speaker 4: it's just not reliable.

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Speaker 2: I do have to say that I'd.

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Speaker 4: Been here once or twice in previous years, didn't.

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Speaker 2: Like it very much.

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Speaker 4: We do have to give Larry think the credit. He

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Speaker 4: has recentered the conversation somewhat. It is not completely illogical.

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Speaker 4: There are still the vestiges of the ESG and DEI

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Speaker 4: and come by people who want to go down with

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Speaker 4: the ship. But it is much more of a discussion.

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Speaker 2: And Steve.

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Speaker 4: Better than anyone, you know when President Trump, when Marine

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Speaker 4: one lands here tomorrow, that Donald J.

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Speaker 2: Trump is going to.

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Speaker 4: Suck all of the oxygen out of Davos for the

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Speaker 4: twenty four hours that he's here.

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Speaker 7: Mister secretary, you were contributed here to war room. You

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Speaker 7: have a huge fan base among the warm posse.

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Speaker 8: What is the It's a one year anniversary of President

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Speaker 8: Trump's return to.

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Speaker 7: Power, a historic year. What has it been like for

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Speaker 7: you personally?

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Speaker 4: Steve, I had the busiest day that I've ever had.

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Speaker 4: Every day I wanted to serve my country since I

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Speaker 4: was seventeen years old and it is the honor of

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Speaker 4: my lifetime. And I tell you, everyone says to me, well,

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Speaker 4: if this candidate won and this candidate in twenty eight

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Speaker 4: would you stay? And I said, It'd be impossible to

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Speaker 4: stay because the warp speed the President Trump moves with

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Speaker 4: the way we get things done. That not only is

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Speaker 4: it gratifying. He makes it fun that he's a force

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Speaker 4: of nature. And I couldn't have imagined that we would

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Speaker 4: get this much done this quickly. And I don't have

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Speaker 4: to tell you Trump years are like dog gears.

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Speaker 2: I feel like I've aged seven years. But it's been

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Speaker 2: worth it. It's been worth it.

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Speaker 7: Well you look marvelous or social media.

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Speaker 8: Where where do we keep up with the Secretary of

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Speaker 8: the Treasury, great comms team, Where do we keep up

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Speaker 8: with you?

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Speaker 4: The just at my Treasury account, so the at the

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Speaker 4: Secretary of the Treasury, and we put a lot of

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Speaker 4: things up on the x account every day, and.

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Speaker 2: We'd love to have your viewers join us.

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Speaker 8: There, miss Secretary, and honor and congratulations for an incredible,

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Speaker 8: incredible first year.

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Speaker 7: Thank you so much for joining us.

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Speaker 4: Well, good Steve, Thanks thanks to you and the posse,

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Speaker 4: the for all all you've done, all the support, and

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Speaker 4: I think.

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Speaker 2: You ain't seen nothing.

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Speaker 7: Yet, no doubt. Thank you, sir, appreciate it.

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Speaker 8: I appreciate you from the from the great state of

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Speaker 8: South Carolina. A game Cock Scott Bessant. Incredible first year.

443
00:27:16,600 --> 00:27:21,600
Speaker 8: Everything accomplished, No so much started, Yes, big issues. We

444
00:27:21,680 --> 00:27:24,040
Speaker 8: got to get to the deep state. Uh, I think

445
00:27:24,520 --> 00:27:29,680
Speaker 8: we're gonna cut momentarily to we're gonna cut momentarily. I

446
00:27:29,680 --> 00:27:33,480
Speaker 8: think Stewart Rhoades is doing a press conference across the street,

447
00:27:33,560 --> 00:27:38,320
Speaker 8: I think from the White House to address a memo

448
00:27:38,560 --> 00:27:42,560
Speaker 8: he and his colleagues sent to President Trump about about

449
00:27:42,600 --> 00:27:46,920
Speaker 8: the UH about the Insurrection Act. Let me go first,

450
00:27:46,920 --> 00:27:51,800
Speaker 8: do I have Cleo, gotta get clear in for a minute, Cleo, Cleo, Pascal,

451
00:27:51,840 --> 00:27:52,440
Speaker 8: are you with us?

452
00:27:53,320 --> 00:27:53,680
Speaker 9: I am.

453
00:27:53,760 --> 00:27:57,679
Speaker 8: Indeed, we got about two minutes where we go to

454
00:27:57,680 --> 00:28:00,600
Speaker 8: break my hang you through. Scott Bess went out of

455
00:28:00,640 --> 00:28:04,359
Speaker 8: his way to talk about President Trump now putting people

456
00:28:04,400 --> 00:28:07,760
Speaker 8: on notice he ain't happy with the die Garcia deal.

457
00:28:07,800 --> 00:28:11,600
Speaker 8: You've been the leading voice in this to warn people

458
00:28:11,680 --> 00:28:13,720
Speaker 8: what's going on. Give me a minute before you go

459
00:28:13,800 --> 00:28:17,840
Speaker 8: to break about the warning now being acknowledged and President

460
00:28:17,880 --> 00:28:19,840
Speaker 8: Trump saying it's stupid, it's weak.

461
00:28:20,000 --> 00:28:21,960
Speaker 7: What are we doing here? This can't happen.

462
00:28:22,040 --> 00:28:27,800
Speaker 10: Your thoughts, ma'am, it's reinvigorating. This was on path to

463
00:28:27,840 --> 00:28:32,040
Speaker 10: be forced through the British Parliament, and now that President

464
00:28:32,080 --> 00:28:34,320
Speaker 10: Trump has made it clear that he doesn't like the deal,

465
00:28:34,760 --> 00:28:37,800
Speaker 10: there is a chance that this might get revisited. One

466
00:28:37,840 --> 00:28:41,680
Speaker 10: of the only remaining arguments that the Starmer government had

467
00:28:42,280 --> 00:28:45,640
Speaker 10: was the Americans are okay with this. Well, the Americans

468
00:28:45,640 --> 00:28:48,040
Speaker 10: are not okay with this. And now that's been made

469
00:28:48,120 --> 00:28:53,680
Speaker 10: very clear, and there's a hope that, as the President said,

470
00:28:53,840 --> 00:28:57,840
Speaker 10: this incredibly stupid deal may not go through. So we're

471
00:28:57,880 --> 00:28:59,640
Speaker 10: going to be watching very closely for the next few

472
00:28:59,640 --> 00:29:01,040
Speaker 10: weeks to see what happens to London.

473
00:29:03,040 --> 00:29:08,160
Speaker 8: Okay, hang on, Cleo joins us from the strategic pivot

474
00:29:09,080 --> 00:29:10,080
Speaker 8: of the United States.

475
00:29:10,360 --> 00:29:13,640
Speaker 7: Yes, that would be the Central Pacific. We're going to

476
00:29:13,720 --> 00:29:14,040
Speaker 7: go back.

477
00:29:14,080 --> 00:29:18,440
Speaker 8: We got Stuart Rhodes on the Introrection Act. Tina Peters,

478
00:29:18,480 --> 00:29:21,120
Speaker 8: the situation with Tina Peters in Colorado.

479
00:29:21,920 --> 00:29:24,560
Speaker 7: Also Ursula Vanderline.

480
00:29:25,760 --> 00:29:30,040
Speaker 8: She pretty blunt about the end of the dollar empire.

481
00:29:31,160 --> 00:29:34,440
Speaker 8: Gold and silver are on a tear. You need to

482
00:29:34,440 --> 00:29:36,920
Speaker 8: find out more about It ain't the price, it's the process.

483
00:29:37,320 --> 00:29:42,360
Speaker 8: Get smart text abandoned ba n n Oen at nine

484
00:29:42,440 --> 00:29:44,920
Speaker 8: eight nine eight nine eight. You get the ultimate guide

485
00:29:44,920 --> 00:29:47,760
Speaker 8: for investing in gold and precious metals in the age

486
00:29:47,760 --> 00:29:51,720
Speaker 8: of Trump. Most importantly, get access to Philip.

487
00:29:51,320 --> 00:29:52,120
Speaker 7: Patrick and his team.

488
00:29:52,160 --> 00:29:55,560
Speaker 8: I'm trying to get Philip to join us today in

489
00:29:55,600 --> 00:29:56,520
Speaker 8: the afternoon show.

490
00:29:56,880 --> 00:29:58,160
Speaker 7: Stick around during the world.

491
00:30:00,560 --> 00:30:02,400
Speaker 2: Here's your host, Stephen k.

492
00:30:05,480 --> 00:30:05,800
Speaker 7: Okay.

493
00:30:05,920 --> 00:30:12,600
Speaker 8: I want to connect some dots here on geopolitics, geoeconomics,

494
00:30:12,640 --> 00:30:17,080
Speaker 8: capital markets, and you the war and posse and some

495
00:30:17,200 --> 00:30:17,920
Speaker 8: turbulence that.

496
00:30:17,840 --> 00:30:18,880
Speaker 7: May be going on today.

497
00:30:19,480 --> 00:30:24,120
Speaker 8: Now I've got Cleo pascal Is in the Pacific. She's

498
00:30:24,120 --> 00:30:26,280
Speaker 8: going to join us come back in a moment. We've

499
00:30:26,280 --> 00:30:30,200
Speaker 8: got nor Bin Laden in Switzerland who covers Davis for

500
00:30:30,440 --> 00:30:33,200
Speaker 8: you know every year what Scott Beston said in the

501
00:30:33,240 --> 00:30:36,080
Speaker 8: turmoil and the capital markets today, the bond in stock

502
00:30:36,120 --> 00:30:38,880
Speaker 8: market particularly, and of course precious metals on a tear.

503
00:30:39,720 --> 00:30:43,760
Speaker 8: As Scott said, Look, part of that may be this

504
00:30:43,840 --> 00:30:46,960
Speaker 8: whole what Ray Dalio is talking about, and this whole

505
00:30:47,000 --> 00:30:53,680
Speaker 8: issue about a geopolitical realignment, and particularly letting the Europeans know, hey,

506
00:30:53,720 --> 00:30:54,880
Speaker 8: look we just can't.

507
00:30:54,880 --> 00:30:55,800
Speaker 7: We're not going to do it anymore.

508
00:30:55,800 --> 00:30:57,800
Speaker 8: We're not going to pay for your title defense, your

509
00:30:57,920 --> 00:31:01,560
Speaker 8: entire defense. The elites in Europe have to understand you've

510
00:31:01,560 --> 00:31:03,800
Speaker 8: got to get to five percent. But even more in

511
00:31:03,840 --> 00:31:06,560
Speaker 8: getting into five percent is the seriousness of what you

512
00:31:06,640 --> 00:31:10,920
Speaker 8: take these threats now that goes from Canada and the Arctic,

513
00:31:11,040 --> 00:31:15,360
Speaker 8: in Greenland and the Greenland, Iceland UK gap about.

514
00:31:15,080 --> 00:31:17,640
Speaker 7: The situation with Russian submarines.

515
00:31:17,600 --> 00:31:17,960
Speaker 2: All of it.

516
00:31:18,040 --> 00:31:21,680
Speaker 8: But it also goes as we've banged the drum on

517
00:31:21,720 --> 00:31:23,720
Speaker 8: this show from months and months and months because we

518
00:31:23,800 --> 00:31:27,320
Speaker 8: knew this day was going to come, where people internally,

519
00:31:27,320 --> 00:31:29,240
Speaker 8: they've been talking about a lot in President Trump has

520
00:31:29,800 --> 00:31:36,680
Speaker 8: another geopolitical and geostrategic necessity. Is this a toll or this.

521
00:31:36,640 --> 00:31:39,360
Speaker 7: Little island in the middle of the Indian Ocean that

522
00:31:39,400 --> 00:31:39,720
Speaker 7: has been.

523
00:31:39,760 --> 00:31:43,440
Speaker 8: Quite strategic for the British and then for the Americans

524
00:31:43,480 --> 00:31:46,080
Speaker 8: for I don't know, over one hundred years. That is

525
00:31:46,120 --> 00:31:50,600
Speaker 8: Diego Garcia, right, and particularly when you're taking a carrier battlegroup,

526
00:31:51,080 --> 00:31:53,280
Speaker 8: a carrier strike group, I think they call it now

527
00:31:53,320 --> 00:31:57,200
Speaker 8: from the South China Sea where it's on patrol in

528
00:31:57,280 --> 00:32:00,880
Speaker 8: defense of Taiwan and free trade and the passage, you know,

529
00:32:01,000 --> 00:32:07,160
Speaker 8: free free passage of cargo right to the Straits of

530
00:32:07,160 --> 00:32:10,600
Speaker 8: Malacca to cross the Indian Ocean past Ergersia to the

531
00:32:10,640 --> 00:32:14,680
Speaker 8: North Arabian Sea to be available in case there is

532
00:32:15,080 --> 00:32:19,520
Speaker 8: any need for it in this situation in Tehran. The

533
00:32:19,560 --> 00:32:21,920
Speaker 8: third part of that is what Scott Besson said. He said, hey,

534
00:32:22,000 --> 00:32:25,280
Speaker 8: don't don't lose sight of the issue about Japan. He

535
00:32:25,320 --> 00:32:29,000
Speaker 8: says mostly he thinks reaction is about the situation with

536
00:32:29,120 --> 00:32:32,480
Speaker 8: Japan and particularly the Japan's finances, and Japan ought to

537
00:32:32,520 --> 00:32:37,040
Speaker 8: be a cautionary tale for the United States. Back in

538
00:32:37,080 --> 00:32:39,800
Speaker 8: the late eighteen nineteen eighties, early nineteen nine had a

539
00:32:39,800 --> 00:32:43,920
Speaker 8: massive asset bubble, particularly around real assets, real estate. Remember

540
00:32:44,040 --> 00:32:46,360
Speaker 8: one time people thought Japan was going to own the world.

541
00:32:46,360 --> 00:32:48,800
Speaker 8: They were buying Tiffany's, they were buying every building in

542
00:32:48,800 --> 00:32:49,400
Speaker 8: the United States.

543
00:32:49,560 --> 00:32:53,080
Speaker 7: I think it was the Bank of Japan's lobby.

544
00:32:53,680 --> 00:32:56,520
Speaker 8: It was one time valued at four or five billion

545
00:32:56,560 --> 00:33:01,680
Speaker 8: dollars just a real estate value in central Tokyo. What

546
00:33:01,720 --> 00:33:04,320
Speaker 8: you've had is you have a prime minister there. She's

547
00:33:04,480 --> 00:33:10,600
Speaker 8: quite energetic, she's a real partner with President Trump geopolitically,

548
00:33:10,720 --> 00:33:15,680
Speaker 8: she's quite strongly anti CCP. They've had this thing called

549
00:33:15,680 --> 00:33:18,600
Speaker 8: the Lost Decades because of the enplosure of their economy

550
00:33:19,160 --> 00:33:22,600
Speaker 8: around this asset bubble collapsing in the late eighties, early nineties,

551
00:33:22,640 --> 00:33:23,760
Speaker 8: and everything.

552
00:33:23,440 --> 00:33:26,440
Speaker 7: They've tried to do struggle through. They've lost decade after

553
00:33:26,520 --> 00:33:28,360
Speaker 7: decade after decade.

554
00:33:28,600 --> 00:33:31,840
Speaker 8: Of being a manufacturing superpower and being a dominant player

555
00:33:31,960 --> 00:33:34,960
Speaker 8: in the world economy. Well, she's got a new economic plan.

556
00:33:35,080 --> 00:33:38,080
Speaker 8: But most importantly, she's called a snap election. You can

557
00:33:38,160 --> 00:33:41,400
Speaker 8: do that in their system, in the parliamentary system. And

558
00:33:41,440 --> 00:33:44,160
Speaker 8: the reason is that she's got tremendous momentum because guess what,

559
00:33:44,840 --> 00:33:47,400
Speaker 8: people in Japan like her energy, they like the cut

560
00:33:47,400 --> 00:33:50,760
Speaker 8: of her jib. They particularly like the fact that the

561
00:33:50,880 --> 00:33:54,400
Speaker 8: Japanese elites are publicly waking up to the fact that

562
00:33:54,400 --> 00:33:57,040
Speaker 8: the Chinese Commist Party, not just in the South China See,

563
00:33:57,080 --> 00:34:01,000
Speaker 8: but in the East China Sea is a strategic threat

564
00:34:01,960 --> 00:34:04,120
Speaker 8: to the people of Japan no more just you know,

565
00:34:04,160 --> 00:34:06,160
Speaker 8: talking about North Korea. That's one of the big things

566
00:34:06,160 --> 00:34:09,200
Speaker 8: that we did in the first days of President Trump's

567
00:34:09,239 --> 00:34:12,160
Speaker 8: first term, particularly in the transition, this whole thing with Obama,

568
00:34:12,200 --> 00:34:15,400
Speaker 8: this obsession with Korea, which it should be, but Korea's

569
00:34:15,920 --> 00:34:18,880
Speaker 8: a vassal state to the Chinese Communist Party.

570
00:34:19,000 --> 00:34:19,800
Speaker 7: They're the enemy.

571
00:34:20,560 --> 00:34:23,040
Speaker 8: And so those three nodes both what's happening in Japan

572
00:34:23,400 --> 00:34:27,200
Speaker 8: with a closer strategic realignment to the United States via

573
00:34:27,640 --> 00:34:32,720
Speaker 8: this amazing young prime minister. They have female what's happening

574
00:34:32,760 --> 00:34:35,880
Speaker 8: in Diero, Garcia and the Central Indian Ocean with that

575
00:34:35,960 --> 00:34:39,160
Speaker 8: as a strategic asset, and clearly what's happening in Greenland,

576
00:34:39,160 --> 00:34:42,920
Speaker 8: and not just in Greenland. Don't forget the mac Daddy

577
00:34:43,360 --> 00:34:47,160
Speaker 8: that is Northern Canada from Alaska to all the way

578
00:34:47,200 --> 00:34:49,040
Speaker 8: to Greenland and across northern Canada.

579
00:34:49,120 --> 00:34:51,880
Speaker 7: That part of the Arctic is the new Great Game

580
00:34:51,960 --> 00:34:52,960
Speaker 7: and that is where the.

581
00:34:52,960 --> 00:34:56,799
Speaker 8: Vulnerability of the West really comes out because China and

582
00:34:56,880 --> 00:35:02,640
Speaker 8: Russia are all over it. Pascal, with that as a

583
00:35:02,680 --> 00:35:04,799
Speaker 8: tee up, you have warned about this, and you've done

584
00:35:04,800 --> 00:35:07,960
Speaker 8: a brilliant job of getting analysis out there, taking clips

585
00:35:07,960 --> 00:35:10,600
Speaker 8: from war room, and you've worn don't miss. What the

586
00:35:10,600 --> 00:35:13,040
Speaker 8: British are talking about is like Mauritius and the people

587
00:35:13,120 --> 00:35:14,919
Speaker 8: and the indigenous people and what we're doing.

588
00:35:15,520 --> 00:35:17,440
Speaker 7: They are they're.

589
00:35:17,080 --> 00:35:21,719
Speaker 8: Consciously obsivocating what the issue is here. The issue is

590
00:35:22,239 --> 00:35:25,880
Speaker 8: that through One Belt, one Road and other predatory capitalist

591
00:35:26,360 --> 00:35:29,920
Speaker 8: you know, predatory capital capital and kind of the British

592
00:35:29,960 --> 00:35:34,640
Speaker 8: East India company model in reverse, this is a client state.

593
00:35:35,000 --> 00:35:37,600
Speaker 8: Marisia is a client state of the Chinese companies party

594
00:35:37,640 --> 00:35:42,879
Speaker 8: and you're basically turning over a key naval asset at

595
00:35:42,920 --> 00:35:48,840
Speaker 8: the very moment when President Trump's Mahanian strategy, Mahanian strategy

596
00:35:48,920 --> 00:35:53,040
Speaker 8: is becoming ever more ever clearer that the choke points

597
00:35:53,080 --> 00:35:57,320
Speaker 8: and in what Mohan said is the key to global power.

598
00:35:58,400 --> 00:36:01,000
Speaker 8: A navy that can keep this and Ce's free, but

599
00:36:01,120 --> 00:36:04,799
Speaker 8: also can deploy everywhere is now at the forefront of

600
00:36:04,880 --> 00:36:08,000
Speaker 8: everybody's mind. And it's not lost in President Trump that

601
00:36:08,080 --> 00:36:11,680
Speaker 8: the British government is just giving away to the Chinese

602
00:36:11,680 --> 00:36:14,720
Speaker 8: companies party one of the most strategic assets in the world.

603
00:36:14,840 --> 00:36:16,840
Speaker 7: Your thoughts man, not.

604
00:36:17,320 --> 00:36:20,719
Speaker 10: Just giving away. They're going to be paying for Mauritius

605
00:36:20,760 --> 00:36:23,239
Speaker 10: to have it, so they're going to transfer sovereignity and

606
00:36:23,280 --> 00:36:26,040
Speaker 10: then the idea is that they will lease it back.

607
00:36:26,840 --> 00:36:31,080
Speaker 10: And there are two poisoned pills in this proposed agreement. Now,

608
00:36:31,320 --> 00:36:34,759
Speaker 10: the state of it is that an agreement has been

609
00:36:35,000 --> 00:36:38,759
Speaker 10: signed but not ratified, and it's being held up in

610
00:36:38,880 --> 00:36:43,160
Speaker 10: the British House of Lords. They've been trying to get

611
00:36:43,280 --> 00:36:46,520
Speaker 10: the government to reconsider and it hasn't yet gone to

612
00:36:46,600 --> 00:36:49,640
Speaker 10: Mauritius even to be presented as legislation or ratified. So

613
00:36:49,680 --> 00:36:53,040
Speaker 10: there is still a little bit of time. And it

614
00:36:53,080 --> 00:36:59,720
Speaker 10: was President Trump's truth social message was extremely welcome because

615
00:36:59,719 --> 00:37:01,640
Speaker 10: they're two things in this treaty that are going to

616
00:37:01,640 --> 00:37:05,480
Speaker 10: blow it up. One is the minute it's signed the

617
00:37:05,600 --> 00:37:08,399
Speaker 10: US is likely to be a contravention of international law

618
00:37:08,480 --> 00:37:12,960
Speaker 10: because Mauritius has signed on to this Pan African nuclear

619
00:37:13,280 --> 00:37:17,160
Speaker 10: free zone treaty, the Pelen Daba Treaty, which means that

620
00:37:17,239 --> 00:37:20,920
Speaker 10: all of Mauritians soil cannot have nuclear weapons on it,

621
00:37:21,360 --> 00:37:24,080
Speaker 10: and the US is and we saw this with what

622
00:37:24,120 --> 00:37:26,760
Speaker 10: happened in New Zealand a few decades ago. The US's

623
00:37:26,800 --> 00:37:28,719
Speaker 10: policy is not to say whether or not there are

624
00:37:28,840 --> 00:37:32,799
Speaker 10: nuclear weapons there, which will because they're not saying there

625
00:37:32,840 --> 00:37:36,200
Speaker 10: aren't going to immediately cause set it up for legal problems.

626
00:37:36,520 --> 00:37:41,080
Speaker 10: And then this treaty, which where the UK will lease

627
00:37:41,280 --> 00:37:45,520
Speaker 10: the land for the base for ninety nine years, becomes

628
00:37:45,880 --> 00:37:50,480
Speaker 10: terminated if the UK misses one payment. So I think

629
00:37:50,560 --> 00:37:53,000
Speaker 10: that it's very likely over the next ninety nine years

630
00:37:53,040 --> 00:37:55,279
Speaker 10: some government in the UK is going to not pay

631
00:37:55,320 --> 00:37:58,520
Speaker 10: their bills and then the US really is in legal jeopardy.

632
00:37:58,600 --> 00:38:04,440
Speaker 10: So in this treaty there are these traps that are

633
00:38:04,520 --> 00:38:08,480
Speaker 10: set to betray the US and make it difficult to operate,

634
00:38:08,600 --> 00:38:13,200
Speaker 10: and in a cognitive and narrative warfare context, to make

635
00:38:13,920 --> 00:38:17,800
Speaker 10: the US even more isolated. And this isn't just that

636
00:38:17,920 --> 00:38:20,200
Speaker 10: we're talking about Diego Garcia, because that's the one that

637
00:38:20,239 --> 00:38:22,680
Speaker 10: the British are trying to set the trap in now.

638
00:38:23,080 --> 00:38:25,080
Speaker 10: But when we talk about Europe, and especially in the

639
00:38:25,120 --> 00:38:29,560
Speaker 10: context of the national Security strategy, where they say Europe

640
00:38:29,640 --> 00:38:31,480
Speaker 10: might not be what we think it is in twenty

641
00:38:31,520 --> 00:38:35,520
Speaker 10: or thirty years, Europe isn't geographically contained to the continent

642
00:38:36,440 --> 00:38:38,959
Speaker 10: of Europe. There are pieces of Europe as we see.

643
00:38:39,000 --> 00:38:42,600
Speaker 10: The UK is in the Indian Ocean, France is in

644
00:38:42,640 --> 00:38:45,279
Speaker 10: the Indian Ocean and in the Pacific, and I think,

645
00:38:45,320 --> 00:38:47,319
Speaker 10: for example, the French are looking for a way to

646
00:38:47,320 --> 00:38:50,399
Speaker 10: get out of New Caledonia. So there, when we're looking

647
00:38:50,440 --> 00:38:54,360
Speaker 10: at our strategic geography and especially these very critical islands,

648
00:38:54,840 --> 00:38:57,520
Speaker 10: we need to take into account what is happening in

649
00:38:57,520 --> 00:39:01,880
Speaker 10: those European capitals and how they're reacting towards the US

650
00:39:02,040 --> 00:39:03,719
Speaker 10: now in order to be able to get ahead of

651
00:39:03,760 --> 00:39:06,719
Speaker 10: the game, because I don't think they're the allies that

652
00:39:07,200 --> 00:39:11,480
Speaker 10: necessarily they're presumed to be, and I also think that

653
00:39:11,520 --> 00:39:14,279
Speaker 10: they're looking for ways to get out of the rest

654
00:39:14,320 --> 00:39:17,759
Speaker 10: of the world, which will leave the US even more exposed.

655
00:39:18,360 --> 00:39:21,600
Speaker 10: Diego Garcia is the most clear example of this now.

656
00:39:21,640 --> 00:39:23,320
Speaker 10: But I don't think is going to be the only one.

657
00:39:25,000 --> 00:39:27,040
Speaker 8: You're one hundred percent correct, and we will get ahead

658
00:39:27,040 --> 00:39:30,000
Speaker 8: of that with you. Just to remind the audience, the

659
00:39:30,080 --> 00:39:33,120
Speaker 8: National Strategic Memo was thirty three pages long. It kind

660
00:39:33,120 --> 00:39:38,560
Speaker 8: of gives a very sixty thousand foot level overview of

661
00:39:38,640 --> 00:39:40,759
Speaker 8: the thinking of an administration as they think about the

662
00:39:40,800 --> 00:39:42,280
Speaker 8: national security of the United States.

663
00:39:42,560 --> 00:39:44,320
Speaker 7: And this was an America first document.

664
00:39:45,600 --> 00:39:49,279
Speaker 8: Europe did not really get addressed until page twenty nine.

665
00:39:50,280 --> 00:39:52,360
Speaker 8: As I tell you when I do these interviews overseas,

666
00:39:52,440 --> 00:39:55,960
Speaker 8: I said that should be a wake up call. It's

667
00:39:56,040 --> 00:39:58,680
Speaker 8: not a number one priority more. And you're absolutely correct.

668
00:39:58,680 --> 00:40:00,440
Speaker 8: There's a lot more that they're going to be dumping

669
00:40:00,520 --> 00:40:04,959
Speaker 8: because in pages twenty nine to thirty three they had

670
00:40:05,040 --> 00:40:07,759
Speaker 8: one of the most brutal phrases I've ever seen in

671
00:40:07,760 --> 00:40:12,319
Speaker 8: an official government document. They talked about civilizational erasure, and

672
00:40:12,440 --> 00:40:17,160
Speaker 8: that is because of the Muslim takeover the migration issue.

673
00:40:17,800 --> 00:40:18,320
Speaker 7: In Europe.

674
00:40:18,400 --> 00:40:20,520
Speaker 8: You can't look away from that anymore. In France you

675
00:40:20,560 --> 00:40:22,680
Speaker 8: can't look away from any more. In the Netherlands you

676
00:40:22,719 --> 00:40:25,399
Speaker 8: can't look at it anymore. In Brussels, you cannot look

677
00:40:25,560 --> 00:40:28,160
Speaker 8: away from it, in England, in the United Kingdom, it

678
00:40:28,239 --> 00:40:33,799
Speaker 8: is a reality and becoming a more brutal reality every day.

679
00:40:33,840 --> 00:40:36,400
Speaker 8: And this is one of the reasons we launched Or

680
00:40:36,480 --> 00:40:39,000
Speaker 8: in Texas because the exact same issue and how to

681
00:40:39,000 --> 00:40:41,520
Speaker 8: get ahead of it. This is why grit Velders wasn't

682
00:40:41,600 --> 00:40:45,000
Speaker 8: randomly he just didn't randomly wander into Texas that day

683
00:40:45,960 --> 00:40:48,840
Speaker 8: for that conference. We invited him to be because he

684
00:40:48,920 --> 00:40:52,080
Speaker 8: is probably the best. He's the Cassandra, He's the one

685
00:40:52,120 --> 00:40:54,520
Speaker 8: that warned about it the earliest and the best. And

686
00:40:54,560 --> 00:40:57,240
Speaker 8: this is why we have Peter mcelvenny with his great

687
00:40:57,239 --> 00:41:00,319
Speaker 8: show that travels to Texas and let us know what's

688
00:41:00,360 --> 00:41:00,799
Speaker 8: going on.

689
00:41:01,960 --> 00:41:06,760
Speaker 7: Cleo, You've had a great nose for this what's important.

690
00:41:06,800 --> 00:41:09,160
Speaker 8: We've talked about Greenland, We've talked about Canada, We've talked

691
00:41:09,160 --> 00:41:13,120
Speaker 8: about the Artic, You've talked about dire Garcia, and eventually

692
00:41:13,160 --> 00:41:16,040
Speaker 8: these all become not just front page news, but they

693
00:41:16,120 --> 00:41:19,319
Speaker 8: become like in Davish right now, it is in vaporlock,

694
00:41:19,560 --> 00:41:26,239
Speaker 8: about the Arctic, about Greenland, about American's America first geostrategic policies.

695
00:41:27,040 --> 00:41:29,960
Speaker 8: You have been with us throughout this past year. On

696
00:41:30,040 --> 00:41:34,479
Speaker 8: the anniversary now of President Trump's you know, the first

697
00:41:34,560 --> 00:41:37,560
Speaker 8: anniversary of his second term the first year, you have

698
00:41:37,640 --> 00:41:40,160
Speaker 8: been warning that as big a problem as all these

699
00:41:40,160 --> 00:41:42,839
Speaker 8: other things are, that the real strategic pivot in an

700
00:41:42,840 --> 00:41:47,319
Speaker 8: america first hemispheric defense is the Central Pacific that has

701
00:41:47,360 --> 00:41:50,040
Speaker 8: been proven out not just by McKinley and these geniuses

702
00:41:50,040 --> 00:41:52,560
Speaker 8: in the late nineteenth century that knew how important it was,

703
00:41:53,160 --> 00:41:56,799
Speaker 8: but more importantly eighty years ago when young men who

704
00:41:56,800 --> 00:41:59,640
Speaker 8: had never heard of these places, families. Actually every day

705
00:41:59,640 --> 00:42:03,040
Speaker 8: we're looking at Guadalcanal and Pelolu and Tarawa, these small

706
00:42:03,080 --> 00:42:07,400
Speaker 8: islands as the Americans heroically fought across the Pacific to

707
00:42:07,480 --> 00:42:12,120
Speaker 8: basically break the Japanese Empire. Tell us, and I'm gonna

708
00:42:12,120 --> 00:42:14,400
Speaker 8: hold you through the break, give me a minute on

709
00:42:14,440 --> 00:42:16,640
Speaker 8: the Central Pacific of where you are today and how

710
00:42:16,680 --> 00:42:20,200
Speaker 8: important that is in the overall strategic context of america

711
00:42:20,320 --> 00:42:22,080
Speaker 8: first national security policy.

712
00:42:23,400 --> 00:42:26,799
Speaker 10: I'm in the Republic of Palau, which is in free

713
00:42:26,800 --> 00:42:30,640
Speaker 10: association with the United States. This is the country of

714
00:42:30,680 --> 00:42:34,279
Speaker 10: the island of Pelulu. This is a country that definitely

715
00:42:34,920 --> 00:42:38,720
Speaker 10: knows war and doesn't want war again. And the president

716
00:42:38,760 --> 00:42:42,760
Speaker 10: of this country, President Sarrangel Whips, was the keynote speaker

717
00:42:42,800 --> 00:42:46,799
Speaker 10: at the Honolulu Defense Forum, and he explained in very

718
00:42:46,840 --> 00:42:51,440
Speaker 10: strong and clear terms why his country recognizes Taiwan and

719
00:42:51,520 --> 00:42:56,200
Speaker 10: the risks that the Chinese Communist Party imposes on anything

720
00:42:56,239 --> 00:42:59,440
Speaker 10: that gets close to it. So this is a country

721
00:42:59,560 --> 00:43:04,120
Speaker 10: of of blood and courage, and it's an honor and

722
00:43:04,120 --> 00:43:06,839
Speaker 10: privilege to be here. And I learned from plows every

723
00:43:06,920 --> 00:43:09,120
Speaker 10: day about how important it is to be on the

724
00:43:09,120 --> 00:43:10,600
Speaker 10: front line and be willing to fight.

725
00:43:13,600 --> 00:43:15,120
Speaker 8: Can you hang on for one second to hold it

726
00:43:15,120 --> 00:43:17,000
Speaker 8: through a break? I got nor Ben Laud And also

727
00:43:17,040 --> 00:43:20,759
Speaker 8: Tom Fitton's going to join us. More revelations about my

728
00:43:20,880 --> 00:43:23,359
Speaker 8: favorite doctor Fauci. And also we're going to get an

729
00:43:23,440 --> 00:43:26,160
Speaker 8: update on Tina Peters and everything that's going on inside

730
00:43:26,200 --> 00:43:27,360
Speaker 8: the prison in.

731
00:43:28,960 --> 00:43:29,320
Speaker 7: Denver.

732
00:43:31,920 --> 00:43:38,080
Speaker 8: Ursula laid out the case for why Europe may be

733
00:43:38,239 --> 00:43:40,360
Speaker 8: going in a different direction when it comes to the

734
00:43:40,440 --> 00:43:44,960
Speaker 8: prime reserve currency. She couldn't be more blunt. Take your

735
00:43:44,960 --> 00:43:46,880
Speaker 8: phone in a text, Bannon b A.

736
00:43:47,040 --> 00:43:48,879
Speaker 7: N n O n at nine eight nine eight nine

737
00:43:48,880 --> 00:43:49,400
Speaker 7: eight get.

738
00:43:49,239 --> 00:43:53,120
Speaker 8: The ultimate guide for investing in gold and precious Metals

739
00:43:53,160 --> 00:43:56,840
Speaker 8: in the Age of Trump, and make contact with Philip

740
00:43:56,840 --> 00:43:57,840
Speaker 8: Patrick and his team.

741
00:43:57,640 --> 00:43:58,959
Speaker 7: With Birch Gold Sugar Break.

742
00:44:00,680 --> 00:44:03,280
Speaker 2: Confuse your hosts, Stephen k back.

743
00:44:06,760 --> 00:44:07,080
Speaker 7: Cleo.

744
00:44:07,239 --> 00:44:10,600
Speaker 8: We look forward to coming back to you because I

745
00:44:10,680 --> 00:44:12,440
Speaker 8: want to tell the audience now is the things we've

746
00:44:12,480 --> 00:44:16,239
Speaker 8: talked about for months now are taken center stage, particularly

747
00:44:16,239 --> 00:44:22,640
Speaker 8: with Greenland and Canada, the Arctic, North Deer Orcia. Even

748
00:44:22,719 --> 00:44:27,160
Speaker 8: bigger is going to be the Central Pacific, these islands

749
00:44:27,719 --> 00:44:33,240
Speaker 8: that Cleo spends so much time in knowing the people

750
00:44:33,280 --> 00:44:34,160
Speaker 8: they're talking about it.

751
00:44:34,840 --> 00:44:36,640
Speaker 7: Pellelou and Tarawah.

752
00:44:37,280 --> 00:44:40,960
Speaker 8: Were at the scale of Normandy. As far as bloodshed,

753
00:44:42,320 --> 00:44:46,200
Speaker 8: America has a real stake there. The greatest generation left

754
00:44:46,200 --> 00:44:51,000
Speaker 8: their imprint to take those islands. Understanding the critical nature

755
00:44:51,040 --> 00:44:53,440
Speaker 8: of the Central Pacific and the defense of the United States.

756
00:44:53,640 --> 00:44:57,440
Speaker 8: The defense of the United States, as McKinley and all

757
00:44:57,480 --> 00:45:00,440
Speaker 8: the great military experts of the late nineteenth century, all

758
00:45:00,480 --> 00:45:07,279
Speaker 8: the way through FDR and the you know MacArthur Nimits,

759
00:45:07,800 --> 00:45:12,880
Speaker 8: all the great leaders in the Pacific understood, the defense

760
00:45:13,000 --> 00:45:16,280
Speaker 8: of the United States does not start at Oregon, Washington,

761
00:45:16,320 --> 00:45:20,120
Speaker 8: and California, the shores on the Great Pacific. It starts

762
00:45:20,880 --> 00:45:26,160
Speaker 8: thousands of miles, thousands of miles past Midway and past

763
00:45:26,960 --> 00:45:31,000
Speaker 8: the Gibraltar of the Pacific, which they believed Honolulu was

764
00:45:31,040 --> 00:45:33,680
Speaker 8: at the time, in Hawaii. It is in the western

765
00:45:34,120 --> 00:45:37,320
Speaker 8: Central Pacific, the western part of that, in the southern

766
00:45:37,360 --> 00:45:39,000
Speaker 8: part of that. And this is going to become a

767
00:45:39,120 --> 00:45:42,040
Speaker 8: huge issue in years to come. You can already start

768
00:45:42,080 --> 00:45:45,200
Speaker 8: to see it form around the issue about Japan, the

769
00:45:45,239 --> 00:45:48,520
Speaker 8: issue about Australia, the issue about Diego Garcia.

770
00:45:48,600 --> 00:45:48,920
Speaker 7: Cleo.

771
00:45:49,080 --> 00:45:52,000
Speaker 8: Until that time, ma'am, how do we keep up with you,

772
00:45:52,040 --> 00:45:53,799
Speaker 8: and we'll have you back on to talk about your

773
00:45:53,800 --> 00:45:59,680
Speaker 8: beloved Canada. Bloomberg's leaking that Canada, Canada is putting together plans.

774
00:46:00,080 --> 00:46:04,000
Speaker 8: These government are putting together plans for a potential invasion

775
00:46:04,480 --> 00:46:06,279
Speaker 8: of Canada by the y and it won't be the

776
00:46:06,320 --> 00:46:09,279
Speaker 8: first time. Between the French and Indian War, I think

777
00:46:09,360 --> 00:46:13,200
Speaker 8: three or four times, the Revolutionary generation was obsessed because

778
00:46:13,280 --> 00:46:15,640
Speaker 8: many of those folks that served in the French and

779
00:46:15,680 --> 00:46:18,680
Speaker 8: Indian War obsess Also in the War of eighteen twelve,

780
00:46:18,760 --> 00:46:20,920
Speaker 8: we've taken a couple of shots at Canada in the past.

781
00:46:21,360 --> 00:46:24,160
Speaker 8: We've always we've always crapped out, but we've taken a

782
00:46:24,160 --> 00:46:24,800
Speaker 8: couple of shots.

783
00:46:24,800 --> 00:46:26,319
Speaker 7: But we'll have you back on to discuss that.

784
00:46:26,480 --> 00:46:28,640
Speaker 8: Until that time, Man, where do people keep up with

785
00:46:28,680 --> 00:46:29,959
Speaker 8: you and your travels?

786
00:46:30,560 --> 00:46:32,400
Speaker 9: Sure, I mean you can you can find me an expert,

787
00:46:32,480 --> 00:46:35,200
Speaker 9: and I would just say just to point out that

788
00:46:36,120 --> 00:46:38,520
Speaker 9: you're hitting the US. You fly, I mean, I just

789
00:46:38,600 --> 00:46:42,840
Speaker 9: flew seventy eight hours from Hawaii to the US West

790
00:46:43,000 --> 00:46:47,440
Speaker 9: to Guam, so you know this is the the McKinley and.

791
00:46:48,920 --> 00:46:52,760
Speaker 10: Especially McKinley, but also Bush Senior.

792
00:46:52,920 --> 00:46:54,120
Speaker 7: Actually who is there.

793
00:46:54,160 --> 00:47:00,839
Speaker 10: When they brought in CNMI placed deliberately America and Americans

794
00:47:01,200 --> 00:47:05,240
Speaker 10: part of the homeland seven eight hour flight west of Hawaii,

795
00:47:05,280 --> 00:47:07,400
Speaker 10: so you go across the center of Pacific and you

796
00:47:07,440 --> 00:47:08,640
Speaker 10: get to the United States.

797
00:47:08,719 --> 00:47:10,200
Speaker 7: That's the message that they.

798
00:47:10,160 --> 00:47:13,560
Speaker 10: Sent future generations about how important this area is and

799
00:47:13,640 --> 00:47:16,479
Speaker 10: the Americans that are out here on the front line

800
00:47:16,520 --> 00:47:19,600
Speaker 10: with Asia, because if you remember, CNMI shares a maritime

801
00:47:19,680 --> 00:47:23,160
Speaker 10: boundary with Japan, the US shares a maritime boundary with Japan,

802
00:47:23,960 --> 00:47:26,400
Speaker 10: and that part of the US still let's Chinese in

803
00:47:26,480 --> 00:47:30,279
Speaker 10: with thatt Avisa. You know, that's what's going on here

804
00:47:30,320 --> 00:47:33,239
Speaker 10: on the front line, America's Asian front line. So if

805
00:47:33,239 --> 00:47:35,640
Speaker 10: you want to follow more about what's going on here

806
00:47:36,200 --> 00:47:39,280
Speaker 10: as I travel through the region on terrible United Airline flights,

807
00:47:39,400 --> 00:47:43,400
Speaker 10: it's my name on X just my name, Cleo Pascal,

808
00:47:43,920 --> 00:47:47,160
Speaker 10: and come along for the ride and come visit your

809
00:47:47,200 --> 00:47:51,040
Speaker 10: fellow Americans please, They want to see you there, food here,

810
00:47:51,080 --> 00:47:52,360
Speaker 10: and yeah.

811
00:47:52,280 --> 00:47:55,520
Speaker 7: Yep, working on the tariff thing behind the scenes.

812
00:47:55,560 --> 00:47:56,840
Speaker 8: I think what we'd have to do is have a

813
00:47:56,880 --> 00:47:58,600
Speaker 8: special we have to have you for one hour and

814
00:47:58,600 --> 00:48:04,040
Speaker 8: walk through McKinley's influence on Trump, both on tariffs and geostrategically.

815
00:48:04,120 --> 00:48:06,840
Speaker 8: McKinley was quite heeing the people around him. There was

816
00:48:07,600 --> 00:48:12,080
Speaker 8: late nineteenth century early twentieth century Americans just unbelievable in

817
00:48:12,120 --> 00:48:15,399
Speaker 8: their foresight about the world. Cleo, thank you so much,

818
00:48:15,400 --> 00:48:17,960
Speaker 8: and thank you for being out there and warning the

819
00:48:18,000 --> 00:48:21,200
Speaker 8: American people and quite frankly the Brits that are now

820
00:48:21,239 --> 00:48:24,000
Speaker 8: finally waking up to fact President Trump ain't happy.

821
00:48:24,000 --> 00:48:30,719
Speaker 7: With the situation of the Aiercia. Thanks sir, Thank you, ma'am.

822
00:48:33,120 --> 00:48:38,799
Speaker 8: Nor beIN Lauden Larry Fink, the mayor President Scott gave

823
00:48:38,880 --> 00:48:41,280
Speaker 8: him a little bit of a heads up the Secretary

824
00:48:41,360 --> 00:48:45,279
Speaker 8: Treasury saying, hey, the ESG and DEI is still there,

825
00:48:45,440 --> 00:48:47,640
Speaker 8: still embedded, but it's dying down a bit. Of course,

826
00:48:47,719 --> 00:48:51,880
Speaker 8: Larry Fink was the single biggest driver that since he

827
00:48:51,960 --> 00:48:56,840
Speaker 8: controls I think it's two trillion dollars of assets and

828
00:48:57,040 --> 00:49:01,319
Speaker 8: basically money market funds and a mutual fund, etc. Give

829
00:49:01,320 --> 00:49:03,359
Speaker 8: me a couple of minute minutes before we go to break.

830
00:49:03,400 --> 00:49:06,520
Speaker 8: We're going to hold you over on your assessment of Davos.

831
00:49:07,280 --> 00:49:11,520
Speaker 8: Through day two awaiting President Trump, ma'am.

832
00:49:11,760 --> 00:49:16,279
Speaker 11: Secretary Bessant was quite gracious with Larry Thing and very

833
00:49:16,280 --> 00:49:19,880
Speaker 11: diplomatic with him. I found in his statements. I'll be

834
00:49:20,040 --> 00:49:23,200
Speaker 11: less diplomatic, I have to say, because I just think

835
00:49:23,320 --> 00:49:29,840
Speaker 11: he's a total hypocrite and his opening remarks today were

836
00:49:30,520 --> 00:49:35,320
Speaker 11: clearly that hypocritical. And he's trying to total line between

837
00:49:36,200 --> 00:49:40,879
Speaker 11: appeasing America First President Trump ahead of his visits while

838
00:49:41,000 --> 00:49:45,360
Speaker 11: still cow tawing to the Davos elite and Davos Club.

839
00:49:46,080 --> 00:49:50,360
Speaker 11: So he's playing that fine line, and his opening remarks

840
00:49:50,360 --> 00:49:54,440
Speaker 11: were very interesting where he recognized that, you know, it

841
00:49:54,480 --> 00:49:58,080
Speaker 11: was an elite gathering where people weren't invited, and that

842
00:49:58,239 --> 00:50:01,719
Speaker 11: in the spirit of dialogue, to refer to this theme

843
00:50:01,840 --> 00:50:04,640
Speaker 11: of this year's annual meeting, it was very important that

844
00:50:04,680 --> 00:50:08,560
Speaker 11: we start listening to other voices, even if we disagree

845
00:50:08,600 --> 00:50:12,439
Speaker 11: with them. But you know, this is in total contradiction

846
00:50:12,960 --> 00:50:15,520
Speaker 11: to what he said in the past, and specifically to

847
00:50:15,600 --> 00:50:18,600
Speaker 11: that ESG. Point I sent to the team of video

848
00:50:19,000 --> 00:50:21,359
Speaker 11: of him speaking about how it was so important that

849
00:50:21,360 --> 00:50:25,920
Speaker 11: we needed to force behavior changes, and that was just

850
00:50:25,960 --> 00:50:26,640
Speaker 11: a couple.

851
00:50:26,360 --> 00:50:26,920
Speaker 7: Of years ago.

852
00:50:27,040 --> 00:50:30,600
Speaker 11: So he's doing like a complete vaulta fass and it's

853
00:50:30,880 --> 00:50:34,080
Speaker 11: frankly quite sickening to watch.

854
00:50:34,800 --> 00:50:37,799
Speaker 8: We know that, nor Ben Laden, That's why we've got

855
00:50:37,880 --> 00:50:39,640
Speaker 8: your You're not gonna lay off the hook. We're going

856
00:50:39,680 --> 00:50:41,120
Speaker 8: to start the next hour of that. Nor's going to

857
00:50:41,160 --> 00:50:45,160
Speaker 8: stick around. We're going to go to Colorado and talk

858
00:50:45,200 --> 00:50:49,000
Speaker 8: about Tina Peters. We got Tom Fitten. We're packed. Actually,

859
00:50:49,120 --> 00:50:53,440
Speaker 8: Jack Besobeks wandering around and Brian Glenn are both on

860
00:50:53,480 --> 00:50:57,360
Speaker 8: the loose, and Davos, I'm sure the authorities are on

861
00:50:57,440 --> 00:50:57,880
Speaker 8: top of that.

862
00:50:58,080 --> 00:50:59,720
Speaker 7: We're going to take a short break. Two things.

863
00:51:00,520 --> 00:51:03,520
Speaker 8: Patriot Mobile nine seven to two. Patriot not just the

864
00:51:03,520 --> 00:51:06,759
Speaker 8: best phone service out there, and particularly the best phone

865
00:51:06,800 --> 00:51:10,600
Speaker 8: service for your money, but they back your causes of

866
00:51:10,719 --> 00:51:13,799
Speaker 8: the situation in Texas. Patriot Mobile has done an extraordinary

867
00:51:13,880 --> 00:51:19,360
Speaker 8: job of it. Remember this is the unspoken tension underneath

868
00:51:19,360 --> 00:51:24,400
Speaker 8: the surface at DeVos, the Islamic invasion of France and

869
00:51:24,480 --> 00:51:29,080
Speaker 8: Germany and Netherlands, in Belgium, in the United Kingdom and

870
00:51:29,160 --> 00:51:32,680
Speaker 8: the direction of those societies and the strategic memo it's

871
00:51:32,719 --> 00:51:37,879
Speaker 8: called civilizational erasure that was put in as a wake

872
00:51:37,960 --> 00:51:38,800
Speaker 8: up call the folks.

873
00:51:39,280 --> 00:51:40,640
Speaker 7: But there's a wake up called down at.

874
00:51:40,640 --> 00:51:43,000
Speaker 8: Texas and we want to thank Patriot Mobile ninety seven

875
00:51:43,040 --> 00:51:43,200
Speaker 8: to two.

876
00:51:43,320 --> 00:51:44,200
Speaker 7: Patriot call.

877
00:51:45,320 --> 00:51:47,560
Speaker 8: We'll get a text in the US Citizen with a

878
00:51:47,640 --> 00:51:51,280
Speaker 8: hillbilly accent that'll walk you through everything. The best little

879
00:51:51,320 --> 00:51:53,759
Speaker 8: phone company out there, Patriot Mobile ninety seven to two.

880
00:51:53,800 --> 00:51:58,520
Speaker 8: Patriot call them today to the Wardam Centi short break