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Speaker 1: Do it on the air, he said, quote, we know

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Speaker 1: exactly where the so called Supreme Leader is hiding. He

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Speaker 1: is an easy target, but is safe there.

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Speaker 2: We are not.

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Speaker 1: Going to take him out kill at least not for now.

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Speaker 1: But we don't want missile shot at civilians or American soldiers.

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Speaker 1: Our patients is wearing fin You part ways with the

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Speaker 1: President on that issue, you think you should be taken out.

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Speaker 3: Well, what I'm going to I trust President's judgment very much.

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Speaker 3: I trust his judgment. I think for now is a

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Speaker 3: term the IATOTA should understand. In Trump world is ever changing.

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Speaker 3: So what is the President trying to do. He's letting

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Speaker 3: the IATOTA know if your attack American interest, that's the

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Speaker 3: end of you and your regime. What am I trying

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Speaker 3: to do? I'm trying to make the case that ending

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Speaker 3: Around's nuclear ambitions is not only good for Israel, it's

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Speaker 3: good for us and we're they're the weagest they've been

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Speaker 3: since nineteen seventy nine. This region, since nineteen seventy nine

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Speaker 3: has been a press This regime has been repressing their people,

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Speaker 3: trying to destroy Israel. Have American blood on their hands.

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Speaker 3: I hope it's eliminated. I would like to see this

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Speaker 3: regime fall, but I'm going to leave it up to

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Speaker 3: the President as to what to do and when to

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Speaker 3: do it. But I do know this, if we don't

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Speaker 3: take out their nuclear program now, we'll all regret it.

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Speaker 3: We're very close, be all in, mister President, and helping

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Speaker 3: Israel finish the job. And let's see where we're at

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Speaker 3: after we neutralize their nuclear program. They're in this array

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Speaker 3: and they're very dangerous. I don't want to underestimate the

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Speaker 3: danger of being involved in these operations, but the danger

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Speaker 3: of Iran having a nuclear weapon or surviving as a

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Speaker 3: state sponsor of terrorism is far greater than the danger

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Speaker 3: of trying to end the threat. So that's the decision

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Speaker 3: President Trump has to make, and I think he's the

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Speaker 3: right guy at the right time to make that decision.

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Speaker 3: But I'm hoping the sun is setting not only on

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Speaker 3: their nuclear program but the regime itself. Sooner they leave

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Speaker 3: the world stage, the better the world will be. We

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Speaker 3: can have true peace in the Mideast only if the

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Speaker 3: regime falls.

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Speaker 4: In my view, President Trump, emerging out of the White

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Speaker 4: House's Situation Room after over an hour of deliberations with

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Speaker 4: his national security team as he's weighing how to respond

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Speaker 4: to the escalating conflict between Israel and Iran. Sources telling

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Speaker 4: CNN that the President is warming to the idea of

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Speaker 4: using American military assets to strike Iranian nuclear facilities. So

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Speaker 4: joining me now is someone who has spent quite a

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Speaker 4: bit of time in that very room with our presidents.

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Speaker 4: CNN senior military analyst Admiral James Stavritis joins us now,

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Speaker 4: admiralbal I'm admiral, I'm so grateful to have you here,

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Speaker 4: and this obviously is a foreign policy challenge that has

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Speaker 4: been on the table for decades. Really, what would you

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Speaker 4: be advising the president to do given the facts as

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Speaker 4: we as members of the public not privy to classified information,

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Speaker 4: understand them to be.

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Speaker 5: Right now, let's go back to the situation room itself.

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Speaker 5: What the president deserves in the situation room is the

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Speaker 5: best advice. Ultimately, he's going to make the decision. We

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Speaker 5: elected him to make those kind of truly hard calls,

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Speaker 5: but he needs unfettered, unvarnished, take the bark off kind

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Speaker 5: of advice from his cabinet. I hope he's receiving that.

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Speaker 2: I think he's.

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Speaker 5: Probably got three broad courses of action here case he

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Speaker 5: won is let the Israelis continue to pound away. Another

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Speaker 5: one is put pressure on the Iranians by moving forces

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Speaker 5: into the region, sort of set the table for strikes,

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Speaker 5: but then use that leverage to get back to a negotiation.

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Speaker 5: That would be option two. And then option three, of course,

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Speaker 5: would be to conduct a strike. Your reporting indicates he's

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Speaker 5: leaning toward option three. I just hope he's getting all

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Speaker 5: of the advice of both the pros and the cons

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Speaker 5: of each of those three courses of action.

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Speaker 1: Rabia would like to see the theocracy gone. I know

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Speaker 1: the Emirates would in many other Arab states as well.

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Speaker 1: But then there's the question of what happens if there

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Speaker 1: is a power vacuum there. We saw all too well

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Speaker 1: what happened in Iraq, we saw what happened in Afghanistan

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Speaker 1: when the Taliban took over and literally a matter of hours.

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Speaker 1: You've got competing factions as well, who would vibe to

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Speaker 1: take over Iran. On the one side, you've got the

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Speaker 1: Crown Prince Razi Polavi, who would like to go in

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Speaker 1: as an interim leader. The other side of that fence,

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Speaker 1: you've got the NCRI, the National Council for Resistance in Iran,

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Speaker 1: which used to be the m e K, which a

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Speaker 1: lot of people at Roance, would be worse than the Ayatolas.

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Speaker 1: So what steps into the vacuum if the regime falls.

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Speaker 3: Well, I think what will happen is the Iranian people

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Speaker 3: will know freedom for the first time since nineteen seventy nine.

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Speaker 3: You know, people probably asked that about Hiller in the thirties,

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Speaker 3: What would happen in Germany if we took him out

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Speaker 3: in the mid thirties. Well, I wish we had because

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Speaker 3: we know what happened when they let him stay in power.

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Speaker 3: And here's what I can say, taking the Iotola's regime

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Speaker 3: down is a good thing, not a bad thing.

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Speaker 2: And I'm willing to.

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Speaker 3: Risk what happens next because I know what's going to

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Speaker 3: happen if they stay in power.

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Speaker 4: But Sir, can you guarantee that can President Trump in

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Speaker 4: anything I can, can you make the commitment that this would

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Speaker 4: not lead to a longer war.

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Speaker 3: I can guarantee you that if the Itola gets a

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Speaker 3: nuclear weapon, he will use it. I believe that with

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Speaker 3: all my heart and soul. So the men and women

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Speaker 3: who serve they're the ones going, not people answering a poll,

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Speaker 3: and if you ask them, would you be willing to

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Speaker 3: risk your life to stop the Ietola from having a

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Speaker 3: nuclear weapon, all of them would say yes because it

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Speaker 3: makes their country. Our country is safer. So we live

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Speaker 3: in a world where you've got to confront problems you

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Speaker 3: want to avoid World War three, learn the lessons from

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Speaker 3: World War two. People in World War two appeased Hitler

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Speaker 3: to the point that it got so much out of hand.

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Speaker 3: We had a world war and sixty million people got killed.

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Speaker 3: So we live in a world where you pay now

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Speaker 3: or you pay life. Let's stop this threat before he

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Speaker 3: gets a nuclear weapon. Let's end this reign of terror.

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Speaker 3: Let's do it now. It's not going to take twenty months.

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Speaker 3: But I can't guarantee you your freedom and your safety

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Speaker 3: unless we're willing to.

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Speaker 2: Fight for it.

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Speaker 3: I can guarantee you this. If we don't fight for

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Speaker 3: our freedom, we will lose it.

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Speaker 6: This is the primal scream of a dying regie. Pray

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Speaker 6: for our enemies, because we're going to medieval.

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Speaker 7: On these people.

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Speaker 6: There's not got a free shot. All these networks lying

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Speaker 6: about the people, the people have had a belly full

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Speaker 6: of it. I know you don't like gearing that. I

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Speaker 6: know you try to do everything in the world to

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Speaker 6: stop that, but you're not going to stop it. It's

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Speaker 6: going to happen.

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Speaker 8: And where do people like that go to share the

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Speaker 8: big line?

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Speaker 6: Mega media?

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Speaker 3: I wish in my soul, I wish that any of

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Speaker 3: these people had a conscience.

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Speaker 6: Ask yourself, what is my task and what is my purpose?

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Speaker 9: If that answer is to save my country, this country will.

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Speaker 6: Be say war Room.

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Speaker 7: Here's your host, Stephen K.

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Speaker 8: Bath.

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Speaker 6: Tuesday, seventeen June. You're of a Lord, twenty twenty five.

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Speaker 6: Obviously a very action packed afternoon, and we're packed this afternoon.

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Speaker 6: We had a show lined up we were going to

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Speaker 6: do talk about a lot of finance and the good

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Speaker 6: things that are coming out of President Trump's administration economically.

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Speaker 6: We've got a couple of Treasury officials from the World Bank,

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Speaker 6: Philip Patrick, all that. We're going to get that in.

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Speaker 6: But we obviously got to talk about what happened the

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Speaker 6: National Security Council today. President Trump came back from Calgary.

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Speaker 6: I think partially he was bored. Number two. He had

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Speaker 6: to get back to deal with the situation at hand.

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Speaker 6: They did go through alternatives. It's pretty obvious at least

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Speaker 6: one alternative is to consider strike, at least some sort

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Speaker 6: of strike, because they're pre positioning massive assets in the region,

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Speaker 6: both naval assets and air assets, both support logistics assets,

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Speaker 6: it's and also combat aircraft. That has to be viewed

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Speaker 6: as at least negotiating leverage. If President Trump is to

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Speaker 6: is to try to force the hand, which looks like

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Speaker 6: it's either between a full capitulation on the nuclear program

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Speaker 6: or maybe even regime change, as this seems to be

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Speaker 6: changing every minute. Let's go to Jack Basobic. Jack, you're

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Speaker 6: gonna be on Tim Poole tonight, is that correct? People

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Speaker 6: can see you on the Tim Poole Show.

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Speaker 8: That's right, Steven to the warm boss s. I'll be

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Speaker 8: on Tim Pool in a couple hours tonight. So we'll

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Speaker 8: we'll be covering all of this live, We'll be taking

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Speaker 8: super chats, we'll be doing all of it right there.

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Speaker 8: We're tracting all of this in real time as.

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Speaker 6: Well, so Jack. Obviously, Then the range of alternatives President

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Speaker 6: Trump's looked at is his current position is, hey, they

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Speaker 6: can I mean, his constant position is they cannot have

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Speaker 6: a nuclear weapon. I've told him they can't have a

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Speaker 6: nuclear weapon. He's tried to negotiate. They kind of try

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Speaker 6: to tap him along. He wasn't prepared to be tapped along.

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Speaker 6: The Israelis did what they did. Now we are where

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Speaker 6: we are looks like the range of alternatives today, Jack

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Speaker 6: clearly has at least, I mean, you can just tell

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Speaker 6: from the outside action. They haven't released any statement, but

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Speaker 6: clearly a lot of assets are being moved around. We

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Speaker 6: had Admiral stav Ritas there in the cold open saying

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Speaker 6: that's to give him a range of alternatives. Admiral stav

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Speaker 6: Ritas is correct. This is what he's trying to do

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Speaker 6: is have options, to have what we call optionality. Jack,

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Speaker 6: give us your assessment of the options you think are

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Speaker 6: out there.

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Speaker 8: We'll see if I think there are a number of options. Obviously,

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Speaker 8: these range from the United States military being ordered to

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Speaker 8: take runs at the political leadership or even the energy

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Speaker 8: or infrastructure of Iran, all of which are capable, all

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Speaker 8: of which are reachable from our air bases throughout the goals,

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Speaker 8: including Prince Alton Air Base in Saudi Arabia. There's stealth,

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Speaker 8: there's multi role fighters there at thirty five sixteen F

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Speaker 8: twenty twos. There's also the bombers to the fifty twos

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Speaker 8: down at Diego, Garcia. And of course there's been a

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Speaker 8: lot of talk about the United States coming in and

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Speaker 8: having the weaponry and the firepower to take out this

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Speaker 8: underground base over at four dough which is built for

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Speaker 8: this purpose. Because Israel does not have the bunker busting

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Speaker 8: bombs or the mops. These gb used these gravity bombs,

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Speaker 8: which the israelities do not have, but the United States

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Speaker 8: certainly does. This is why they were built for this purpose,

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Speaker 8: and of course it was also what the bomb was

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Speaker 8: designed to do. This is part of the escalatory ladder

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Speaker 8: and the tit for tet that we've seen in the

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Speaker 8: directing world, that's hardening world that the ir Adiance and

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Speaker 8: some of these places up there. This is why Iron

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Speaker 8: has their shots shot drones underground for example, and all

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Speaker 8: these other various facilities, and so these options are all

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Speaker 8: available to the United States. There's also a range of

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Speaker 8: options from intelligent sharing to asymmetric warfare, so intelligent sharing,

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Speaker 8: shutting down electronics, going after their communications, going after their media.

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Speaker 8: There's also a huge range that can be done there

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Speaker 8: as well, and it really all remains to President Trump

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Speaker 8: what he wants to order happened here. We're waiting to

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Speaker 8: hear that readout from the National Security Council meeting which

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Speaker 8: was told and it just a little while ago at

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Speaker 8: the White House.

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Speaker 6: Jack walk people through what the gravity of bomb exactly.

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Speaker 6: The mechanism hasn't actually work. It's kind of unique, and

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Speaker 6: this is why people are saying, well, maybe you put

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Speaker 6: it on a you know, a C four, if you

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Speaker 6: put it on a big one of our big transport

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Speaker 6: aircraft and have the Israelis pushed out the back, or

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Speaker 6: you put it on an Israeli aircraft. Walk me through

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Speaker 6: what do we have here and why the size of

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Speaker 6: ours are are much bigger than there is correct, yes.

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Speaker 8: Yes much. Russia has been much larger. Russia has been

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Speaker 8: using a version of this technology in Ukraine for quite

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Speaker 8: some time now. And essentially what the Russians are using

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Speaker 8: for with a smaller version of it is it What

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Speaker 8: it does is it turns your It turns your use

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Speaker 8: the parlance, you earned your dumb bombs into smart bombs

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Speaker 8: because you're up What you're doing is you're able to

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Speaker 8: upgrade them to a point where they have a rudimentary

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Speaker 8: type of guidance which is far more far superior simply

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Speaker 8: just dropping it away, you know, bombs away as as

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Speaker 8: as we know. And so they're carrying that, you know,

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Speaker 8: a guidance system, they're monitored, it's controlled externally guided bomb,

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Speaker 8: you know, depending on the given weight, that's how much

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Speaker 8: explosives that it has on it has radio and this

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Speaker 8: this technology has been around for quite some time, but

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Speaker 8: it's really been plugged up through World War Two and

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Speaker 8: then even after throughout the Cold War where they've been used.

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Speaker 8: And it's only been in the Gulf War, the Ukraine

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Speaker 8: War and on that we've seen them really use now.

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Speaker 8: And so this is it's it's sort of in the

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Speaker 8: way that I think of it as it is it

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Speaker 8: precision guided munitions. It is it is not quite precision

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Speaker 8: guided mission munition, but it is a it is a

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Speaker 8: guided bomb, is the best way to think about it.

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Speaker 6: The difference between taking out the nuclear program and making

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Speaker 6: sure they have no capacity to refine material and also

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Speaker 6: even maybe some of the ballistic missile technology they need

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Speaker 6: versus regime change, give me a minute on that.

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Speaker 8: Before you go to break well, Steve, this could be everything.

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Speaker 8: So taking out President Trump has been very clear that

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Speaker 8: he is against Iran's nuclear weapons program. But Iran's regime

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Speaker 8: depends on far more than just that program. They had,

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Speaker 8: the IRGC, they have, the Iranian army, they've got, and

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Speaker 8: of course all of the oil pipelines and the deals

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Speaker 8: that they have with the Chinese Communist Party. That's really

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Speaker 8: where that power relies upon. You take out the regime,

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Speaker 8: and that's going to open up a whole hornet's death,

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Speaker 8: possibly civil war. This is bigger than Iraq, bigger than Afghanistan,

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Speaker 8: bigger than Syria, bigger than Libya.

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Speaker 6: The shocking thing, though, I think, for a military point

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Speaker 6: of view, is that, given all their bluster, the Israelis

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Speaker 6: did take a complete air supremacy. Air superiority first, and

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Speaker 6: air supremacy. So far, it doesn't seem like there's any

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Speaker 6: you know, combat aircraft up or the combat aircraft gets up.

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Speaker 6: Their air defence's systems got destroyed about ninety days ago.

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Speaker 6: But right now, don't I think in President Trump, of

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Speaker 6: course you use the Royal we we we have control

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Speaker 6: of the airspace over Tehran. Right that's never really a

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Speaker 6: good sign. All of a sudden, you're you're in it.

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Speaker 6: I tell you what, Jack, and you hang on a minute.

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Speaker 6: I know you're hanging out, going out to temple. We're

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Speaker 6: taking a short commercial break. Jack Pasopic is with us.

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Speaker 6: We're gonna have Joe Lavogna on Special Counselor of the

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Speaker 6: Secretary of Treasury. Big breaking news at a Treasury Day

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Speaker 6: about the impact of President Trump's economic program. How about

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Speaker 6: the economic program on you take your phone out text

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Speaker 6: Bannon b A N N O N at nine eight

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Speaker 6: nine eight nine eight Get the ultimate guide. It's free

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Speaker 6: to investing in gold in special in investing and gold

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Speaker 6: in the Age of Trump. Back in a moment, here's

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Speaker 6: your host, Stephen K.

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Speaker 3: Bath.

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Speaker 6: Welcome back. Joe Lavorgnier is going to join us from

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Speaker 6: the White House Special Assistant or Special council to Secretary Treasury.

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Speaker 6: I want to make sure because I have some economic

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Speaker 6: guys on here. Next Jack Bosobic talking about the economy,

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Speaker 6: talking about you know, I got a guy from you know,

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Speaker 6: the formerhead of the World Bank and one of the

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Speaker 6: under secretaries under President Trump in the first term, Philip

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Speaker 6: Patrick's going to join us. Obviously, gold is kind of

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Speaker 6: on fire now, but also there there there are many economics,

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Speaker 6: not just geopolitical economic Iran is one of the most

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Speaker 6: important oil and gas producers in the world. They they

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Speaker 6: provide I think Jack, you would agree that Chinese commis

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Speaker 6: party anywhere between one point five and two and a

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Speaker 6: half million barrels per day, either sold directly or through

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Speaker 6: the black market. They're the principal provider to the CCP

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Speaker 6: of energy. Those oil fields and there's discussion of the

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Speaker 6: oil fields may come into play. I think Cutter and

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Speaker 6: other nations around the world own. I think the oil

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Speaker 6: fields that kind of go in Bajra, that's part of

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Speaker 6: us in Iraq. Part of it's in Iran. Of course

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Speaker 6: that part down by Bajra since it's tons of Sheite Muslims.

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Speaker 6: Ever since the Iraq War, they kind of claim it

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Speaker 6: for their own. How big a deal is the geoeconomics

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Speaker 6: here of of the situation in Iran.

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Speaker 8: Well, Steve, the idea of the geoeconomics is key. And

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Speaker 8: you know we say on human events daily all the

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Speaker 8: time that when it comes to geopolitics, it's sort of

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Speaker 8: like you know, the French have a phrase them, you know,

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Speaker 8: whenever you're trying to figure out something, look for the

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Speaker 8: look for the woman. Well, in geopolitics we say petrol,

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Speaker 8: look for the petrol, look for the oil and so

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Speaker 8: in this right petrol, you don't feel that from me, man,

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Speaker 8: and that's all me.

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Speaker 6: I'm gonna do it as an homage, all right, soodok

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Speaker 6: ob be.

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Speaker 8: You know that's that's one of the fastest ways that

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Speaker 8: could lead to this regime change, civil war kind of

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Speaker 8: breakout that we're talking about. But if you want to

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Speaker 8: talk about the global oil market impact of a massive

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Speaker 8: sudden supply shock, we're talking immediate. You know, depending on

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Speaker 8: the broader market conditions. You're talking one hundred dollars barrel oil,

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Speaker 8: one hundred and fifty dollars barrow futures market, you're going

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Speaker 8: to get immediate reaction, huge voluntility stocks, commodities, and you

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Speaker 8: know what, you're not sure what's going to happen. What

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Speaker 8: OPEC decides to Does OPEK want to cut does OPEK

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Speaker 8: want to keep flooding the system? The US EU, that's

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Speaker 8: going to be a lot of pressure then to release

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Speaker 8: oil from strategic reserves. Of course we're Trump's been trying

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Speaker 8: to fill by the way, our strategic oil reserve. But

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Speaker 8: here here we are in you know, summer just started

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Speaker 8: and you might be seeing six dollars bar oil.

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Speaker 6: Or or get our guys or get our guys ripping

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Speaker 6: and even pumping more Jack social media, you're putting them

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Speaker 6: great stuff all the time. You're going to tympole You

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Speaker 6: on the Tempole Show tonight. What is that? Is that

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Speaker 6: start at eight o'clock Eastern daylight time, the Tim Poole Show.

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Speaker 8: So that'll start at eight the ones. You're done watching

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Speaker 8: all your evening war room, you have your dinner and

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Speaker 8: then boom you lock in with Tim Kass eight.

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Speaker 6: Pmmeter, hang on, I'm gonna try to get you from

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Speaker 6: Tim's Tim's place at seven when you get out there,

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Speaker 6: so if we get enough there, we'll come right to you. Okay,

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Speaker 6: thank you, brother, Thank you the great Jack Pisobic. I

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Speaker 6: want to go now to the White House. Joe Lavournier,

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Speaker 6: Special Counsel to the to the Secretary of Treasury, Sir.

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Speaker 6: Today Scott Besson had an interview would put up an

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Speaker 6: interview with Maranda Devine. He talked about the increase in

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Speaker 6: blue collar wages. It's awesome analysis you've done. Can you

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Speaker 6: walk us through exactly, give us the receipts, give us

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Speaker 6: the backup, what's actually happening, and more importantly, why is

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Speaker 6: it happening.

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Speaker 10: Sure, So, Steve, the if you look at the President Trump,

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Speaker 10: it's the first term and second term. What we looked

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Speaker 10: at when I worked for President Trump in the first

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Speaker 10: term is blue what we call blue collar wages, which

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Speaker 10: are non super visory production workers. These aren't people that

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Speaker 10: are part of the professional managerial class. It's not Wall Street,

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Speaker 10: it's main Street. It's the backbone of Main Street.

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Speaker 11: And what we've.

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Speaker 10: Noticed in this first five months of this Trump administration

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Speaker 10: is that the annualized increase and real blue collar wages

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Speaker 10: is almost two percent. The next closest growth we had

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Speaker 10: of that magnitude in the first five months of administration

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Speaker 10: was Trump one point zero. So it's remarkable the wage

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Speaker 10: gains he's has. And that's a function really of a

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Speaker 10: very pro growth, supply side led set of policies where

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Speaker 10: food and energy costs have been trending down significantly from

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Speaker 10: where they were, and as Secretary Besson has said, as

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Speaker 10: there are fewer illegal workers that are artificially depressing wages

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Speaker 10: keeping nominal wages high, so you have a double whanne

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Speaker 10: of falling inflation. The inflation numbers have been absolutely stellar.

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Speaker 10: At the same time nominal wages have been strong, So

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Speaker 10: your real wages are expanding, increasing purchasing power for the

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Speaker 10: everyday worker.

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Speaker 6: I want to go back because we did this before

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Speaker 6: in the in the tax cut in seventeen, and it

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Speaker 6: came to fruition in eighteen and really in nineteen that

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Speaker 6: I think it was the fall in nineteen you had

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Speaker 6: the tremendous gains in blue collar versus white collar, non

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Speaker 6: college graduate versus college graduates. Is that essentially the same

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Speaker 6: thing here. We haven't got to the extension of those

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Speaker 6: taxes are still there, But is that what's going on?

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Speaker 6: Is it anything about the investment in jobs coming back?

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Speaker 6: I know a big part of this has got to

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Speaker 6: be an immigration. What do you think is actually the

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Speaker 6: big drivers here in back of this?

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Speaker 10: So you're correct if you look at the big effects

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Speaker 10: obviously with TICHA was in eighteen and nineteen. If just

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Speaker 10: to put it in broader sense, from seventeen to nineteen,

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Speaker 10: those first three Trump years, real media and household income

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Speaker 10: was up almost eight thousand dollars, more than double what

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Speaker 10: had been in the prior sixteen years of both Republican

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Speaker 10: and Democrat administrations. Wow. In the One Big Beautiful bill,

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Speaker 10: the tax expensing, the likelihood that we get well, we

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Speaker 10: got one hundred percent expensing on capex back to President

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Speaker 10: Trump inauguration day, combined with the deduction of plant equipment factories,

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Speaker 10: that is hugely supply side generative. And what that means, Steve,

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Speaker 10: is that you're going to get strong productivity growth because

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Speaker 10: you've got capital deepening. You're giving workers more tools to

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Speaker 10: produce the goods and services that people want. If you

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Speaker 10: have higher productivity, you have higher living standards, you have

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Speaker 10: higher wages. So this bill, once it passes, will codify

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Speaker 10: and further implement what was built off of Trump one

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Speaker 10: point zero. And I'm optimistic we'll get faster growth, will grower, deficit,

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Speaker 10: will grow deficit so that they will fall relative to GDP,

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Speaker 10: and most importantly, Main Street will thrive. I mean, that's

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Speaker 10: the way the theory is supposed to work.

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Speaker 2: It's the way it worked in.

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Speaker 10: Trump one point zero and by all indications, were off

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Speaker 10: to a great start so far in twenty five.

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Speaker 6: Great start. And this shows why the immigration policy seal

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Speaker 6: on the border, in the mass deportation at the beginning,

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Speaker 6: that has all worked out. And remember President Trump's focus

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Speaker 6: and this comes malpass was in the first administration. Scott

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Speaker 6: Bessett now is Secretary Treasury. Everybody's focused on the working class,

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Speaker 6: the middle class from main street in a supply side

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Speaker 6: tax cut, and also to make sure that everything we

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Speaker 6: can do to increase productivity is there. As Dave Brett

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Speaker 6: is often there warning us Joe real quickly, what are

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Speaker 6: you doing? You're one of the great gats inside Treasury.

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Speaker 6: You've got an incredible team over there. What is your titland?

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Speaker 6: What are you doing for the secretary every day?

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Speaker 2: Well, this is my tenth day.

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Speaker 10: So I come from Wall Street and I had the

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Speaker 10: pleasure of getting to meet know the Secretary a little

435
00:22:32,760 --> 00:22:35,680
Speaker 10: bit in my prior private life. I'm helping out in

436
00:22:35,680 --> 00:22:38,320
Speaker 10: anything they really they want me to do, Steve, all

437
00:22:38,359 --> 00:22:42,840
Speaker 10: things sort of macroeconomics and policy related. And it's been

438
00:22:42,880 --> 00:22:45,600
Speaker 10: ten days but it's been fun and hoping I get

439
00:22:45,600 --> 00:22:47,920
Speaker 10: to come on with you again and I'll have been

440
00:22:47,960 --> 00:22:49,520
Speaker 10: better news to report the next time I'm on.

441
00:22:50,680 --> 00:22:53,000
Speaker 6: Well, it's pretty good news today, Joe. Thank you so much. Joe.

442
00:22:53,000 --> 00:22:55,760
Speaker 6: Do you have social media? Where do people go to

443
00:22:55,800 --> 00:22:57,800
Speaker 6: find out more about your work? And which you do?

444
00:22:57,880 --> 00:22:59,120
Speaker 6: Put this up so people lowick.

445
00:23:00,160 --> 00:23:04,040
Speaker 10: Yeah, on my private role, it was at Lavornyanomics. We'll

446
00:23:04,040 --> 00:23:06,080
Speaker 10: see if we can make it an official government role.

447
00:23:06,840 --> 00:23:08,760
Speaker 10: But you've probably see me a little bit more maybe

448
00:23:08,800 --> 00:23:10,840
Speaker 10: on TV and radio than social media. But we've got

449
00:23:10,880 --> 00:23:12,119
Speaker 10: to we've got to fine tune that.

450
00:23:13,720 --> 00:23:15,679
Speaker 6: Thank you brother, look forward to get all your all

451
00:23:15,720 --> 00:23:19,440
Speaker 6: this up on social media. Joe Lavorgnier, thank you over there,

452
00:23:19,480 --> 00:23:22,000
Speaker 6: one of the team that Scott Beston's pulling together. Really

453
00:23:22,000 --> 00:23:26,160
Speaker 6: good news. So Malpass before you you you've got some

454
00:23:26,280 --> 00:23:29,240
Speaker 6: observations about the FED, as you often do, David, you

455
00:23:29,240 --> 00:23:31,240
Speaker 6: were one of the big, one of the big guns

456
00:23:31,240 --> 00:23:33,719
Speaker 6: for President Trump in the first term over Treasury. Then

457
00:23:33,720 --> 00:23:36,600
Speaker 6: you head of the World Bank. First off, just how

458
00:23:36,640 --> 00:23:39,800
Speaker 6: concerned are you about particularly as this thing starts to

459
00:23:39,840 --> 00:23:44,360
Speaker 6: spread in Iran and whatever can happen sabotage. They had

460
00:23:44,400 --> 00:23:47,240
Speaker 6: a thing today that there was a vessel stuck in

461
00:23:47,280 --> 00:23:49,159
Speaker 6: the mouth of the Straits or horror moves, and I

462
00:23:49,200 --> 00:23:50,960
Speaker 6: can tell you having a sailed in and out there

463
00:23:50,960 --> 00:23:54,479
Speaker 6: on a destroyers, it's not that big. How concerned are

464
00:23:54,480 --> 00:23:57,679
Speaker 6: you for global economics of what's going on in Persia

465
00:23:57,760 --> 00:23:58,120
Speaker 6: right now?

466
00:23:59,520 --> 00:24:02,719
Speaker 2: Of course concerned, But the US is powerful and President

467
00:24:02,800 --> 00:24:05,879
Speaker 2: Trump has been really clear that's peace through strength. And

468
00:24:05,960 --> 00:24:08,639
Speaker 2: also they can't have a nuclear weapon, so there are

469
00:24:08,800 --> 00:24:13,680
Speaker 2: exit you know, there's ways, exit ramps that they can use,

470
00:24:13,720 --> 00:24:16,760
Speaker 2: and if not, then I think there is power to

471
00:24:16,960 --> 00:24:20,480
Speaker 2: control the situation. I think we should really make a

472
00:24:20,560 --> 00:24:29,320
Speaker 2: distinction between that meaning necessary steps to control bad outcomes,

473
00:24:29,680 --> 00:24:34,119
Speaker 2: that's peace through strength, and then turn to allowing a

474
00:24:34,160 --> 00:24:38,000
Speaker 2: free market economy in the US to really expand. And

475
00:24:38,400 --> 00:24:41,240
Speaker 2: so in my mind there's kind of a connection. There

476
00:24:41,320 --> 00:24:46,520
Speaker 2: is a connection to the Trump plan. The program is

477
00:24:46,600 --> 00:24:50,560
Speaker 2: to have the economy be really strong so that we

478
00:24:50,640 --> 00:24:54,840
Speaker 2: have enough strength in the US especially, but globally to

479
00:24:55,160 --> 00:24:58,200
Speaker 2: really see peace breakout. And he's been clear.

480
00:25:00,200 --> 00:25:04,400
Speaker 6: David President's been pretty critical of pow Over at the Fed.

481
00:25:04,480 --> 00:25:06,760
Speaker 6: Wall Street Journal's got a piece. What is your take?

482
00:25:06,800 --> 00:25:10,120
Speaker 6: You're somebody the President would always turn to and ask

483
00:25:10,160 --> 00:25:12,200
Speaker 6: about these situations. What do you think about the FED

484
00:25:12,240 --> 00:25:14,919
Speaker 6: and interest rates? Are they ahead of the curve or

485
00:25:14,920 --> 00:25:15,600
Speaker 6: behind the curve?

486
00:25:15,680 --> 00:25:15,840
Speaker 10: Sir?

487
00:25:17,040 --> 00:25:19,520
Speaker 2: They're behind the curve, and they're often behind the curve

488
00:25:19,560 --> 00:25:23,280
Speaker 2: and we go from inflation to deflation because they're driving

489
00:25:23,320 --> 00:25:27,720
Speaker 2: through the rear view mirror. Their models are really antiquated.

490
00:25:27,760 --> 00:25:32,280
Speaker 2: These are forty fifty year old models. That basically say

491
00:25:31,920 --> 00:25:35,880
Speaker 2: the US economy can't grow too faster, it'll be inflationary,

492
00:25:36,119 --> 00:25:40,240
Speaker 2: and that's just wrong. There's productivity growth. You just heard

493
00:25:40,320 --> 00:25:45,000
Speaker 2: Joel Lavornia talking about that as the major strategy. If

494
00:25:45,000 --> 00:25:48,919
Speaker 2: we can get manufacturing going in the US and a

495
00:25:48,960 --> 00:25:53,399
Speaker 2: small business is really cranking, then it's not going to

496
00:25:53,400 --> 00:25:56,960
Speaker 2: be an inflationary economy. It's going to be a growth economy.

497
00:25:57,119 --> 00:26:00,359
Speaker 2: So that's within reach. There is this clear PA path.

498
00:26:00,920 --> 00:26:04,760
Speaker 2: The data is, you know, is clear that there's room

499
00:26:04,800 --> 00:26:07,439
Speaker 2: for the FED to cut. That's the retail sales that

500
00:26:07,480 --> 00:26:11,480
Speaker 2: were negative today, the job growth in May, in the

501
00:26:11,520 --> 00:26:15,080
Speaker 2: household survey was weak. We've got the prime rate at

502
00:26:15,119 --> 00:26:17,159
Speaker 2: seven percent? What are you going to do with that?

503
00:26:17,320 --> 00:26:21,800
Speaker 2: And why is that where the US is sitting? So

504
00:26:21,840 --> 00:26:24,080
Speaker 2: I think if the FED is clear and Trump has

505
00:26:24,160 --> 00:26:26,800
Speaker 2: been that we defend the dollar, we have the dollar

506
00:26:26,840 --> 00:26:30,160
Speaker 2: as the reserve currency. If the world believes that they'll

507
00:26:30,200 --> 00:26:33,159
Speaker 2: beat a path to our door in terms of buying

508
00:26:33,359 --> 00:26:39,800
Speaker 2: buying US debt dollar denominated debt and driving down interustrates,

509
00:26:39,880 --> 00:26:41,120
Speaker 2: I think that's within.

510
00:26:42,320 --> 00:26:44,120
Speaker 6: Hang for one second because I want to go back

511
00:26:44,160 --> 00:26:45,880
Speaker 6: over this, and I got a couple of the questions.

512
00:26:46,119 --> 00:26:48,760
Speaker 6: Philip Patrick from Virgin golds All's going to join us.

513
00:26:48,800 --> 00:26:52,240
Speaker 6: Got David Maupass from ahead of the World Bank in

514
00:26:52,280 --> 00:27:01,159
Speaker 6: the Worl room. Short commercial break, use your Stephen K.

515
00:27:01,400 --> 00:27:08,280
Speaker 6: Ban So brother mountpess And by the way, David was

516
00:27:08,400 --> 00:27:11,600
Speaker 6: under Secretary for International one of the most important jobs

517
00:27:11,640 --> 00:27:14,680
Speaker 6: in the Treasury Department for President Trump in the first term,

518
00:27:14,680 --> 00:27:17,280
Speaker 6: and then head of the World Bank put there by

519
00:27:17,359 --> 00:27:20,760
Speaker 6: President Trump. David when you just said the models that

520
00:27:20,800 --> 00:27:23,640
Speaker 6: the FED uses, because President Trump, let's be blunt, He's

521
00:27:23,720 --> 00:27:26,320
Speaker 6: not particularly happy with Lewis Powell. He's kind of all

522
00:27:26,320 --> 00:27:28,760
Speaker 6: over the FED. He keeps saying they're missing the window

523
00:27:28,840 --> 00:27:31,960
Speaker 6: here when you say the models are forty years old, clunky.

524
00:27:32,080 --> 00:27:34,320
Speaker 6: Doesn't the FED Reserve, I don't know, have like eight

525
00:27:34,359 --> 00:27:37,560
Speaker 6: thousand people over there. It's a huge organization, is it not.

526
00:27:38,520 --> 00:27:41,960
Speaker 2: That that's right? Maybe seven hundred, I don't know. PhDs

527
00:27:42,040 --> 00:27:47,480
Speaker 2: dumb and dumber. But the Phillips curve is the idea

528
00:27:47,520 --> 00:27:51,600
Speaker 2: that there's somehow a tradeoff between unemployment and inflation and

529
00:27:51,640 --> 00:27:54,080
Speaker 2: you have to have hire one to get lower the other.

530
00:27:54,640 --> 00:27:56,760
Speaker 2: And that is you know, the So the FED is

531
00:27:56,800 --> 00:28:00,160
Speaker 2: constantly talking about his mandate that it's supposed to have

532
00:28:00,480 --> 00:28:05,200
Speaker 2: price stability and full employment, and somehow those are in opposition.

533
00:28:05,600 --> 00:28:09,480
Speaker 2: They work totally together. If you have price stability, you'll

534
00:28:09,480 --> 00:28:13,280
Speaker 2: have more jobs in the economy. That's that's what Trump

535
00:28:13,359 --> 00:28:17,320
Speaker 2: is talking about, That's what Scott Beson is talking about today,

536
00:28:17,440 --> 00:28:22,200
Speaker 2: even of how how do you get real wages up

537
00:28:22,960 --> 00:28:27,919
Speaker 2: if the FED is always leaning against it. This is

538
00:28:28,000 --> 00:28:30,600
Speaker 2: because you know, if you think about the last forty years,

539
00:28:30,640 --> 00:28:34,480
Speaker 2: there's been innovation everywhere except that the Fed. They're still

540
00:28:34,520 --> 00:28:38,800
Speaker 2: talking about monetorism, which is ages old, and they're not.

541
00:28:39,120 --> 00:28:42,400
Speaker 2: And remember, the FED not only sets interest rates, but

542
00:28:42,440 --> 00:28:46,560
Speaker 2: they also regulate banks, and they do it poorly because

543
00:28:46,720 --> 00:28:50,000
Speaker 2: they fail and the small businesses can't get credit. And

544
00:28:50,720 --> 00:28:54,920
Speaker 2: the FED has this giant balance sheet that's been horribly managed.

545
00:28:54,960 --> 00:29:00,440
Speaker 2: They bought nine trillion dollars of US government bonds at

546
00:29:00,480 --> 00:29:03,880
Speaker 2: the very trough when yields were the lowest, so they've

547
00:29:03,920 --> 00:29:07,200
Speaker 2: got this unrealized loss on their books of maybe a

548
00:29:07,280 --> 00:29:11,920
Speaker 2: trillion dollars. So it's just mistakes all around. Old models.

549
00:29:13,720 --> 00:29:15,720
Speaker 6: The last thing you said about us being the prime

550
00:29:15,760 --> 00:29:18,920
Speaker 6: reserve currency, we actually are very focused on the rear reset.

551
00:29:18,960 --> 00:29:22,600
Speaker 6: We've done a whole special of this We've got a

552
00:29:22,600 --> 00:29:26,320
Speaker 6: whole thing we've done in the last couple of years

553
00:29:26,600 --> 00:29:28,320
Speaker 6: called the End of the Dollar Empire. We put it

554
00:29:28,320 --> 00:29:30,560
Speaker 6: out an installments. We got the seventh installment about the

555
00:29:30,640 --> 00:29:32,600
Speaker 6: rear reset. Walk me through what you said in the

556
00:29:32,640 --> 00:29:36,280
Speaker 6: last minute of the previous segment about making sure that

557
00:29:36,360 --> 00:29:39,800
Speaker 6: there's demand for dollar denominated bonds and that we remain

558
00:29:39,880 --> 00:29:41,200
Speaker 6: the prime reserve currency, sir.

559
00:29:42,960 --> 00:29:45,840
Speaker 2: Even today you saw Europe saying they want to have

560
00:29:45,920 --> 00:29:49,120
Speaker 2: more room for the Euro on people's shelf space. Well,

561
00:29:49,160 --> 00:29:53,280
Speaker 2: that is not really the way to have the world

562
00:29:53,320 --> 00:29:56,040
Speaker 2: be safe. You need the dollar to be the backbone.

563
00:29:56,400 --> 00:29:59,680
Speaker 2: And that's also important for crypto and digitalization of the

564
00:29:59,680 --> 00:30:03,400
Speaker 2: world economy. If you look at stable coins, they need

565
00:30:03,440 --> 00:30:08,760
Speaker 2: to be in the US dollars and regulated by the US,

566
00:30:08,840 --> 00:30:12,840
Speaker 2: not by some island. I don't know your view on that, Steven.

567
00:30:12,920 --> 00:30:16,240
Speaker 2: People can have different views, but I really think that

568
00:30:16,360 --> 00:30:21,880
Speaker 2: we can allow and permit this innovation that is the

569
00:30:21,920 --> 00:30:25,400
Speaker 2: core of the US economy. All that has to happen

570
00:30:25,840 --> 00:30:28,720
Speaker 2: is Treasury and the Fed say they plan to have

571
00:30:28,880 --> 00:30:31,800
Speaker 2: the dollar be the core of the global economy for

572
00:30:31,880 --> 00:30:35,760
Speaker 2: decades and decades. That would bring down interest rates right there.

573
00:30:35,840 --> 00:30:38,840
Speaker 2: If they would say it, but the PhD economists all

574
00:30:39,120 --> 00:30:41,760
Speaker 2: think that the currencies should just float around with no

575
00:30:41,920 --> 00:30:45,000
Speaker 2: anchor at all. I think that can be fixed pretty easily.

576
00:30:47,480 --> 00:30:50,480
Speaker 6: David Malpass. We hope to have you on here a lot.

577
00:30:51,360 --> 00:30:53,640
Speaker 6: Where do people get you on social media where they go.

578
00:30:54,680 --> 00:30:58,680
Speaker 2: On Twitter or x at David R. Mouthpass.

579
00:30:59,680 --> 00:31:02,480
Speaker 6: Thanks Steve Brother, thank you, thank you for coming on.

580
00:31:02,960 --> 00:31:05,560
Speaker 6: Look forward to having you back. I think one of

581
00:31:05,640 --> 00:31:09,400
Speaker 6: the things we're gonna do is this clearly this conflict

582
00:31:09,400 --> 00:31:12,920
Speaker 6: between Israel and Iran, and we're picking up to see

583
00:31:12,920 --> 00:31:15,840
Speaker 6: an and just report that the Okay, maybe that was

584
00:31:15,840 --> 00:31:16,320
Speaker 6: a false thing.

585
00:31:16,360 --> 00:31:16,800
Speaker 11: I don't want to.

586
00:31:18,120 --> 00:31:20,880
Speaker 6: Okay, Christy Noam is Christie Noam. We'll get more of it.

587
00:31:21,000 --> 00:31:23,520
Speaker 6: But the Secretary of Homeland Security has been taken I

588
00:31:23,520 --> 00:31:26,120
Speaker 6: think to a local Washington hospital and ambulance. We don't

589
00:31:26,120 --> 00:31:28,680
Speaker 6: know anything more than that. As soon as we know more,

590
00:31:28,760 --> 00:31:33,760
Speaker 6: we will report it. Philip Patrick, one of my favorite people.

591
00:31:33,800 --> 00:31:35,960
Speaker 6: You had Malpash right there saying what we needed to

592
00:31:36,000 --> 00:31:39,800
Speaker 6: do to make sure that we remained the prime reserve currency,

593
00:31:40,680 --> 00:31:46,160
Speaker 6: our favorite as you as you know, the The Financial

594
00:31:46,160 --> 00:31:50,640
Speaker 6: Times of London had this article right about about gold.

595
00:31:50,680 --> 00:31:52,840
Speaker 6: If Denver could put it up. I want to make

596
00:31:52,880 --> 00:31:56,000
Speaker 6: sure it's up. Got Philip Patrick on it. It starts

597
00:31:56,040 --> 00:31:58,320
Speaker 6: with it starts with one of my favorite quotes, Phillips,

598
00:31:58,320 --> 00:32:01,680
Speaker 6: and the headline is amazing. As you know, Philip, we've

599
00:32:01,680 --> 00:32:03,920
Speaker 6: been working together for four years now, over four years,

600
00:32:03,960 --> 00:32:06,560
Speaker 6: and we talked about doing the end of the Dollar

601
00:32:06,600 --> 00:32:09,200
Speaker 6: Empire to make sure people understood the importance of the

602
00:32:09,960 --> 00:32:12,320
Speaker 6: dollar as the prime reserve currency and how that was

603
00:32:12,360 --> 00:32:15,760
Speaker 6: so important. And then what backed that up now the

604
00:32:17,200 --> 00:32:19,560
Speaker 6: Financial Times of London that they does this big story

605
00:32:19,920 --> 00:32:23,880
Speaker 6: how gold became the world's refuge from uncertainty, which is

606
00:32:24,000 --> 00:32:26,160
Speaker 6: kind of the thesis that we've been talking about for

607
00:32:26,160 --> 00:32:29,480
Speaker 6: four years. The sub headline in an error where core

608
00:32:29,600 --> 00:32:33,240
Speaker 6: assumptions about the global economy are being questioned. Gold has

609
00:32:33,320 --> 00:32:36,479
Speaker 6: once more become an anchor, especially for central banks, as

610
00:32:36,520 --> 00:32:40,239
Speaker 6: you've reported for four years here. But the lead paragraph though,

611
00:32:40,280 --> 00:32:44,520
Speaker 6: talks about one of my favorite quotes is by John

612
00:32:44,600 --> 00:32:49,120
Speaker 6: Maynard Keynes, who was the economist that really after the war,

613
00:32:49,320 --> 00:32:52,600
Speaker 6: after World War One, they all kind of you went

614
00:32:52,640 --> 00:32:56,160
Speaker 6: into Keynesianism, which hadn't been really grasped before, which meant

615
00:32:56,200 --> 00:32:59,960
Speaker 6: bigger government's, bigger government, stimuluts, which we're living through that too.

616
00:33:00,080 --> 00:33:03,120
Speaker 6: Want to have tree and dollar two treeon dollar deficits

617
00:33:03,200 --> 00:33:06,560
Speaker 6: here the year. We say that is a Keynesian stimulus

618
00:33:06,560 --> 00:33:11,360
Speaker 6: to an economy, and Kines called gold a barbarous relic

619
00:33:12,720 --> 00:33:16,800
Speaker 6: of an ancient world. Sir, So what break down the

620
00:33:16,800 --> 00:33:20,800
Speaker 6: financial times and really the financial times coming to understand

621
00:33:21,520 --> 00:33:23,400
Speaker 6: what we've been kind of laying at for this audience

622
00:33:23,400 --> 00:33:24,200
Speaker 6: for four years, sir.

623
00:33:25,280 --> 00:33:27,760
Speaker 9: Yeah, Look, I mean, as you say, we've been talking

624
00:33:27,760 --> 00:33:30,080
Speaker 9: about this for a long time. First of all, we can,

625
00:33:30,280 --> 00:33:34,400
Speaker 9: I think, clearly show that John Maynard Keynes was incorrect

626
00:33:34,440 --> 00:33:39,120
Speaker 9: calling gold a barbarous relic. Seeing gold this century outperform

627
00:33:39,160 --> 00:33:41,040
Speaker 9: almost every other asset class, I.

628
00:33:41,040 --> 00:33:44,680
Speaker 7: Think it's very clear. But I thought a very good article.

629
00:33:44,720 --> 00:33:47,200
Speaker 9: It was summarizing a lot of what we've talked about

630
00:33:47,240 --> 00:33:49,840
Speaker 9: over as you said, the last few years, and that

631
00:33:50,000 --> 00:33:55,920
Speaker 9: is slowly we are disincentivizing the world to hold our dollars.

632
00:33:56,040 --> 00:33:59,360
Speaker 9: Right after nineteen forty six, what incentivized the world to

633
00:33:59,440 --> 00:34:02,840
Speaker 9: use dollars was redeemability. Right It was the only currency

634
00:34:02,840 --> 00:34:06,000
Speaker 9: in the world that central banks could hand into the

635
00:34:06,040 --> 00:34:10,160
Speaker 9: Treasury Department and get gold back in return. Following seventy one,

636
00:34:10,200 --> 00:34:13,359
Speaker 9: it was the Petro dollar agreement. Right, the world had

637
00:34:13,400 --> 00:34:15,800
Speaker 9: to use dollars to buy oil. Forty percent of the

638
00:34:15,840 --> 00:34:19,560
Speaker 9: world's oil supply came from Opek. It guaranteed this demand.

639
00:34:19,760 --> 00:34:19,920
Speaker 2: Right.

640
00:34:20,280 --> 00:34:22,239
Speaker 7: Since then, it's really been stability.

641
00:34:22,440 --> 00:34:25,359
Speaker 9: Right, The dollar, as far as currencies go, has been

642
00:34:25,640 --> 00:34:29,400
Speaker 9: the most stable. All of that being said, the world

643
00:34:29,400 --> 00:34:32,799
Speaker 9: has been incentivized to hold our US dollar. Well, what

644
00:34:32,960 --> 00:34:36,200
Speaker 9: have we seen really since the Biden administration. Right, We've

645
00:34:36,200 --> 00:34:41,080
Speaker 9: seen devaluation of currency. We've seen weaponization of our currency.

646
00:34:41,320 --> 00:34:44,439
Speaker 9: Central banks around the world are looking at dollars now

647
00:34:44,480 --> 00:34:49,560
Speaker 9: more as a liability. There's an asset. Even Trump's policies. Listen,

648
00:34:49,600 --> 00:34:53,279
Speaker 9: Trump's been trying to thread the needle. Things like tariffs.

649
00:34:53,520 --> 00:34:56,319
Speaker 9: They tell nations around the world. Look, we understand why

650
00:34:56,360 --> 00:35:00,279
Speaker 9: he implemented them. We have to boost domestic manufacturing. But

651
00:35:00,360 --> 00:35:04,200
Speaker 9: tariffs have negative impacts as well. They force countries to

652
00:35:04,320 --> 00:35:09,120
Speaker 9: diversify away from our currency, even the big beautiful bill. Right,

653
00:35:09,120 --> 00:35:11,640
Speaker 9: Trump was elected with a mandate, I said to you

654
00:35:11,680 --> 00:35:14,520
Speaker 9: before I'm torn on this, Right, you know, he was

655
00:35:14,560 --> 00:35:17,080
Speaker 9: elected with a clear mandate to shore.

656
00:35:16,920 --> 00:35:17,719
Speaker 7: Up the borders.

657
00:35:17,960 --> 00:35:21,640
Speaker 9: This stuff is expensive, but it comes with consequences, Right,

658
00:35:21,960 --> 00:35:25,320
Speaker 9: That is an explosion in deficits, Right, the dollar again

659
00:35:25,760 --> 00:35:29,560
Speaker 9: less attractive to foreign investors. What about the revenge tax

660
00:35:29,800 --> 00:35:31,239
Speaker 9: within the big beautiful bill?

661
00:35:31,320 --> 00:35:31,440
Speaker 7: Right?

662
00:35:31,440 --> 00:35:35,800
Speaker 9: The Financial Times reference that specifically. I understand why Trump

663
00:35:35,840 --> 00:35:38,560
Speaker 9: has it in there, Right, it's one more weapon that

664
00:35:38,640 --> 00:35:41,560
Speaker 9: Trump can use to balance global trade. But I also

665
00:35:41,640 --> 00:35:45,440
Speaker 9: understand that as a foreign investor, right, that's a concerning

666
00:35:45,480 --> 00:35:48,520
Speaker 9: thing for me. So my concern now is not that

667
00:35:48,600 --> 00:35:52,279
Speaker 9: we lose global reserve currency status, but that we move

668
00:35:52,320 --> 00:35:56,319
Speaker 9: into a more multipolar world. Right, are the currencies being used,

669
00:35:56,520 --> 00:35:59,759
Speaker 9: demand for the dollar waning longer term? Longer term that

670
00:35:59,840 --> 00:36:03,680
Speaker 9: can put our position as global reserve currency under threat. So,

671
00:36:04,040 --> 00:36:06,560
Speaker 9: you know, we've been talking about this for a long time.

672
00:36:06,880 --> 00:36:10,040
Speaker 9: I think Biden put President Trump into a corner. We're

673
00:36:10,080 --> 00:36:12,800
Speaker 9: trying to fight our way out, but it's a very,

674
00:36:13,000 --> 00:36:13,839
Speaker 9: very tough bat.

675
00:36:15,440 --> 00:36:17,640
Speaker 6: What's the hardest thing he has to do? Because I'm

676
00:36:17,640 --> 00:36:20,600
Speaker 6: gonna expand the conversation to talk about this current war

677
00:36:20,640 --> 00:36:23,520
Speaker 6: that's going on, and particularly if it expands. But as

678
00:36:23,520 --> 00:36:26,640
Speaker 6: you sit here today with all the policy levers President

679
00:36:26,680 --> 00:36:28,799
Speaker 6: Trump is trying to do, and you just heard Joe

680
00:36:28,920 --> 00:36:32,200
Speaker 6: Lavarnier from Treasury talk about some good news we're hearing

681
00:36:32,200 --> 00:36:34,600
Speaker 6: at the get go right, particularly about blue collar wages.

682
00:36:35,200 --> 00:36:38,480
Speaker 6: What is the hardest thing you think President Trump and

683
00:36:38,600 --> 00:36:41,440
Speaker 6: bestn't have to do to thread the needle.

684
00:36:42,920 --> 00:36:46,040
Speaker 7: It's it's such a it's a very tough question.

685
00:36:46,160 --> 00:36:48,360
Speaker 9: If I had the answer to that, I may be

686
00:36:48,520 --> 00:36:49,319
Speaker 9: sitting next to.

687
00:36:49,400 --> 00:36:53,120
Speaker 6: Both of them. Hold it. We had the answer, Philip,

688
00:36:53,120 --> 00:36:55,320
Speaker 6: Patrick and Steeve, I wouldn't be doing this. Philip wouldn't

689
00:36:55,320 --> 00:36:58,680
Speaker 6: be there. We'd have we'd have the Patrick Bannon hedge fire.

690
00:37:00,320 --> 00:37:02,759
Speaker 9: There's no question about it. Look, I think it's all

691
00:37:02,800 --> 00:37:08,360
Speaker 9: about creating incentives. And this is where politics and economics cross.

692
00:37:08,480 --> 00:37:10,560
Speaker 9: If you ask me, as an economist what we have

693
00:37:10,680 --> 00:37:14,680
Speaker 9: to do, the answer is not politically viable.

694
00:37:14,800 --> 00:37:15,000
Speaker 10: Right.

695
00:37:15,239 --> 00:37:18,120
Speaker 9: What we have to do really is curb spending. We

696
00:37:18,280 --> 00:37:21,440
Speaker 9: have to sort of generate more revenue. We've got to

697
00:37:21,480 --> 00:37:24,160
Speaker 9: tighten the belt buckle. Ultimately, that's the way to do it.

698
00:37:24,320 --> 00:37:27,239
Speaker 9: President Trump's strategy is a riskier one, right, and that

699
00:37:27,400 --> 00:37:29,399
Speaker 9: is to grow the economy and to do it at

700
00:37:29,440 --> 00:37:33,200
Speaker 9: a rapid rate, faster than debt. But I don't envy

701
00:37:33,200 --> 00:37:36,360
Speaker 9: President Trump's position. I've said before, if I left with

702
00:37:36,400 --> 00:37:39,360
Speaker 9: his legacy in twenty twenty I wouldn't be back again

703
00:37:39,400 --> 00:37:41,600
Speaker 9: because this is a much more difficult fight he has

704
00:37:41,600 --> 00:37:45,000
Speaker 9: in front of him. But he's got to balance things

705
00:37:45,000 --> 00:37:47,040
Speaker 9: in a way that I think is going to be

706
00:37:47,080 --> 00:37:50,040
Speaker 9: difficult to do. But he's got to incentivize Listen, I

707
00:37:50,080 --> 00:37:52,560
Speaker 9: thought the trade deal he struck with the United Kingdom was.

708
00:37:52,640 --> 00:37:53,359
Speaker 7: Genius, right.

709
00:37:53,440 --> 00:37:56,279
Speaker 9: That was a way to sort of work China out

710
00:37:56,320 --> 00:38:01,120
Speaker 9: of crucial supply chains whilst sort of maintaining good relationships

711
00:38:01,120 --> 00:38:03,719
Speaker 9: with our European counterparts. I think that should be the

712
00:38:04,239 --> 00:38:06,840
Speaker 9: blueprint for any future trade deals.

713
00:38:06,880 --> 00:38:09,160
Speaker 7: So it's a tough one.

714
00:38:09,280 --> 00:38:11,680
Speaker 9: I think curving deficit spending is going to be key,

715
00:38:11,680 --> 00:38:13,239
Speaker 9: Trying to get a handle on the debt's going to

716
00:38:13,239 --> 00:38:15,239
Speaker 9: be key, and growing the economy is going to be key.

717
00:38:15,239 --> 00:38:18,600
Speaker 9: But we're in a very tough position. Look, it wouldn't

718
00:38:18,640 --> 00:38:20,279
Speaker 9: surprise me and you and I have said this for

719
00:38:20,320 --> 00:38:22,759
Speaker 9: a long time. Twenty years from now people take an

720
00:38:22,840 --> 00:38:26,280
Speaker 9: economics course, there's going to be discussions about the sixty

721
00:38:26,360 --> 00:38:29,960
Speaker 9: year experiment from nineteen seventy to twenty thirty with a

722
00:38:30,239 --> 00:38:35,040
Speaker 9: global free floating unpacked currencies and how it failed. Right,

723
00:38:35,080 --> 00:38:37,880
Speaker 9: And I think ultimately that is the biggest problem. This

724
00:38:37,920 --> 00:38:41,439
Speaker 9: is how every empire in history is collapsed and we're

725
00:38:41,440 --> 00:38:42,720
Speaker 9: heading down that path.

726
00:38:44,000 --> 00:38:46,799
Speaker 6: Let's go back to that because the Financial Times talks

727
00:38:46,800 --> 00:38:49,080
Speaker 6: about that too, and talking Aboutcains that there was a

728
00:38:49,200 --> 00:38:53,040
Speaker 6: system in place really from the post war period given

729
00:38:53,080 --> 00:38:55,640
Speaker 6: the devastation. Remember they didn't have a system in place really,

730
00:38:57,239 --> 00:38:59,719
Speaker 6: you know, from World War One to the Second World War?

731
00:39:00,120 --> 00:39:03,799
Speaker 6: Is that people forget it wasn't just World War One

732
00:39:04,440 --> 00:39:10,240
Speaker 6: that caused World War II. Caines came to prominence because

733
00:39:10,280 --> 00:39:14,000
Speaker 6: he wrote a book about the Versailles Treaty and he

734
00:39:14,080 --> 00:39:17,600
Speaker 6: called it The Economic Consequences of the Peace, where he

735
00:39:17,719 --> 00:39:20,759
Speaker 6: kind of forecasted that, hey, there's some bast things going

736
00:39:20,840 --> 00:39:23,759
Speaker 6: to come, particularly about reparations and debt in Germany and

737
00:39:23,760 --> 00:39:25,520
Speaker 6: some of these countries not being able to pay this off,

738
00:39:25,560 --> 00:39:28,600
Speaker 6: that maybe the terms were too tough and people didn't

739
00:39:28,600 --> 00:39:31,160
Speaker 6: listen to him. And of course it was when people

740
00:39:31,200 --> 00:39:33,480
Speaker 6: asked about how Hitler came to power. Hitler came to

741
00:39:33,480 --> 00:39:37,480
Speaker 6: power because of hyperinflation in the Weimar Republic. It really

742
00:39:37,520 --> 00:39:40,719
Speaker 6: destroyed the currency. And when you destroy person, when you

743
00:39:40,760 --> 00:39:45,160
Speaker 6: destroy a country's currency, you really destroyed the fabric of

744
00:39:45,239 --> 00:39:47,680
Speaker 6: the country, do you not, Philip Patrick.

745
00:39:48,120 --> 00:39:52,600
Speaker 9: Yeah, absolutely. I don't think any historian disagrees with that position. Today,

746
00:39:53,080 --> 00:39:56,480
Speaker 9: the Treaty of Basai put the German people in dire strait,

747
00:39:56,920 --> 00:40:00,000
Speaker 9: and desperate people do desperate things.

748
00:40:00,040 --> 00:40:04,080
Speaker 6: I question about that, Philip, Can you hang over a second.

749
00:40:04,160 --> 00:40:05,480
Speaker 6: I want to hold you for another block. I get

750
00:40:05,520 --> 00:40:07,600
Speaker 6: some of the questions I asked you about the current situation,

751
00:40:07,760 --> 00:40:11,719
Speaker 6: particularly as President Trump goes through and looks through a

752
00:40:11,880 --> 00:40:17,000
Speaker 6: various alternatives to deal with this situation in Persia. I

753
00:40:17,120 --> 00:40:18,560
Speaker 6: don't know if we're going to hear from the President

754
00:40:18,640 --> 00:40:23,160
Speaker 6: or not tonight or not, maybe even a press avail,

755
00:40:23,239 --> 00:40:25,840
Speaker 6: et cetera. A lot of rumors going around. We're going

756
00:40:25,920 --> 00:40:29,040
Speaker 6: to try to track them all down. Short commercial break.

757
00:40:29,040 --> 00:40:31,759
Speaker 6: You got Philip Patrick or Birch Gold. Just take your

758
00:40:31,800 --> 00:40:33,920
Speaker 6: phone out right now, text Bean and b A. N.

759
00:40:34,040 --> 00:40:36,080
Speaker 6: N Owen at nine eight nine eight ninet eight. Get

760
00:40:36,120 --> 00:40:40,160
Speaker 6: the Ultimate Guide for investing in Gold and Precious Metals

761
00:40:40,640 --> 00:40:43,680
Speaker 6: in the Age, not the era, the Age of Trump.

762
00:40:44,840 --> 00:40:48,480
Speaker 6: It is pretty straightforward. It gives you access to Philip

763
00:40:48,480 --> 00:40:51,160
Speaker 6: Patrick's team of Birch Gold. Short commercial break, Philip Patrick.

764
00:40:51,239 --> 00:40:55,480
Speaker 6: On the other side, we really let us take down

765
00:40:57,960 --> 00:41:07,920
Speaker 6: four Room. Use your host Stephen K. Bas Okay, Philip Patrick,

766
00:41:08,200 --> 00:41:13,520
Speaker 6: the geopolitical concern flight to quality, we've had, you know,

767
00:41:13,560 --> 00:41:17,440
Speaker 6: it's about volatility, it's about safe havens. There's all kinds

768
00:41:17,440 --> 00:41:19,640
Speaker 6: of rumor tonight that President Trump may come and address

769
00:41:19,680 --> 00:41:23,719
Speaker 6: the nation. We have not heard anything official, right. We

770
00:41:23,840 --> 00:41:27,320
Speaker 6: know that people are reviewing a range of alternatives, including

771
00:41:27,880 --> 00:41:30,959
Speaker 6: continue on negotiations, but give them a playme or tradeing now.

772
00:41:32,440 --> 00:41:35,360
Speaker 6: But if this continues down the path, and clearly Israel

773
00:41:35,440 --> 00:41:38,160
Speaker 6: is going to keep pounding the Persians, and the Persians

774
00:41:38,200 --> 00:41:43,160
Speaker 6: going to pound back. How and if the oil assets

775
00:41:43,440 --> 00:41:46,120
Speaker 6: and resources get hit down there by Bajra and those

776
00:41:46,160 --> 00:41:49,359
Speaker 6: massive fields down there, what's your sense of where this

777
00:41:49,400 --> 00:41:52,920
Speaker 6: could head as far as financial markets in particularly gold.

778
00:41:54,440 --> 00:41:57,000
Speaker 9: Look, I think it's in our interest for President Trump

779
00:41:57,080 --> 00:42:00,520
Speaker 9: to try and end this as quickly as Possiblebviously some

780
00:42:00,560 --> 00:42:02,320
Speaker 9: of it, a lot of it's out of its control.

781
00:42:02,360 --> 00:42:04,560
Speaker 9: But the longer this goes on, the worst it is

782
00:42:04,560 --> 00:42:07,880
Speaker 9: for global financial markets. We saw an immediate response, obviously

783
00:42:07,920 --> 00:42:11,200
Speaker 9: from energy markets. We saw a seven and a half

784
00:42:11,280 --> 00:42:15,000
Speaker 9: percent spike in oil prices last Friday on the back

785
00:42:15,000 --> 00:42:18,719
Speaker 9: of that. Obviously, gold the traditional safe haven when US

786
00:42:18,800 --> 00:42:22,239
Speaker 9: treasuries are not spiked as well. It drove up one

787
00:42:22,280 --> 00:42:25,840
Speaker 9: and a half percent on the back of that news alone.

788
00:42:25,920 --> 00:42:31,240
Speaker 9: From a broader economic perspective, regional instability adds to fuel

789
00:42:31,320 --> 00:42:34,120
Speaker 9: the existing inflation that's happening here in the United States

790
00:42:34,120 --> 00:42:36,319
Speaker 9: and around the world, and it comes at a time

791
00:42:36,360 --> 00:42:39,880
Speaker 9: when major economies are already strained. Right, Europe's in recession,

792
00:42:40,280 --> 00:42:43,440
Speaker 9: China's growth is spluttering, and our own GDP in the

793
00:42:43,440 --> 00:42:47,279
Speaker 9: first quarter was negative zero point three percent. So I

794
00:42:47,320 --> 00:42:50,400
Speaker 9: would say geopolitical shocks like this, they don't create an

795
00:42:50,440 --> 00:42:54,279
Speaker 9: economic crisis, but they put pressure on financial system and

796
00:42:54,400 --> 00:42:57,520
Speaker 9: make the craps worse at a time when we really

797
00:42:57,560 --> 00:43:01,120
Speaker 9: can't afford to So this isn't welcome used domestically for

798
00:43:01,200 --> 00:43:04,200
Speaker 9: the economy. But I don't see where this goes. We've

799
00:43:04,239 --> 00:43:08,000
Speaker 9: had sanctions on Iran since the nineteen seventies. They don't

800
00:43:08,040 --> 00:43:11,200
Speaker 9: appear to be stopping them pursuing a new clear weapon.

801
00:43:11,840 --> 00:43:12,360
Speaker 7: I don't know.

802
00:43:12,480 --> 00:43:16,440
Speaker 9: Again, geopolitics is not my forte. From an economic standpoint,

803
00:43:16,640 --> 00:43:19,440
Speaker 9: We've got to end this as quickly as possible, otherwise

804
00:43:19,480 --> 00:43:21,279
Speaker 9: it's going to be the catalyst for the Fed to

805
00:43:21,440 --> 00:43:24,239
Speaker 9: keep interest rates where they are. That's the last thing

806
00:43:24,280 --> 00:43:26,319
Speaker 9: we need from a debt standpoint and from a growth

807
00:43:26,400 --> 00:43:28,279
Speaker 9: standpoint in.

808
00:43:28,760 --> 00:43:32,160
Speaker 6: An era of future instability. And you just mentioned that, Hey,

809
00:43:32,280 --> 00:43:34,759
Speaker 6: people are going to study from nineteen seventy one to

810
00:43:34,800 --> 00:43:37,279
Speaker 6: twenty thirty when you kind of had this floating, you

811
00:43:37,320 --> 00:43:40,640
Speaker 6: had fiat currencies out there right without anything really backing

812
00:43:40,680 --> 00:43:44,160
Speaker 6: it up. In the article they talk about central banks

813
00:43:44,160 --> 00:43:46,920
Speaker 6: have had this kind of fascination with gold here recently,

814
00:43:47,760 --> 00:43:49,520
Speaker 6: and that's one of the reasons that the price of gold,

815
00:43:49,520 --> 00:43:51,080
Speaker 6: it's one that we told people, it's not the price,

816
00:43:51,120 --> 00:43:52,560
Speaker 6: it's the process. You got to learn at what's in

817
00:43:52,600 --> 00:43:55,760
Speaker 6: back of it. That's been very strong demand by central banks,

818
00:43:55,760 --> 00:43:57,959
Speaker 6: and we got the Bricks Nations. In fact, you guys

819
00:43:58,000 --> 00:44:02,520
Speaker 6: will be down there reporting from down there in Rio

820
00:44:02,680 --> 00:44:05,880
Speaker 6: for the real reset. What is your anticipation of the

821
00:44:05,880 --> 00:44:09,040
Speaker 6: appetite of the central banks to continue to purchase gold

822
00:44:09,120 --> 00:44:11,239
Speaker 6: at kind of the rates that they've been purchasing it

823
00:44:11,320 --> 00:44:12,600
Speaker 6: in the last couple of years.

824
00:44:13,080 --> 00:44:16,280
Speaker 9: I mean, look, the trajectory is not letting up. Gold

825
00:44:16,320 --> 00:44:19,720
Speaker 9: buying is increasing. The biggest single quarter in world history

826
00:44:19,800 --> 00:44:22,399
Speaker 9: was the fourth quarter of twenty twenty four. We saw

827
00:44:22,400 --> 00:44:25,160
Speaker 9: a slight tail off first quarter of this year, but

828
00:44:25,160 --> 00:44:28,680
Speaker 9: The trend generally is increasing, and I think it'll continue

829
00:44:28,680 --> 00:44:31,720
Speaker 9: to increase. We have to remember the traditional safe haven

830
00:44:31,760 --> 00:44:34,480
Speaker 9: asset was US government debt treasury.

831
00:44:34,560 --> 00:44:36,440
Speaker 7: Specifically, what we are.

832
00:44:36,320 --> 00:44:40,160
Speaker 9: Seeing now is demand for that debt is waning. Right,

833
00:44:40,200 --> 00:44:45,800
Speaker 9: the FED lowered interest rates on load interest rates Boring

834
00:44:45,880 --> 00:44:49,279
Speaker 9: rates on the tenure went up seventy basis points on

835
00:44:49,360 --> 00:44:52,560
Speaker 9: the thirty year one hundred basis points, which is concerning.

836
00:44:52,640 --> 00:44:56,600
Speaker 9: So I am of the belief that trend will continue

837
00:44:56,800 --> 00:44:59,680
Speaker 9: and until another currency appears. Right, there is not a

838
00:44:59,680 --> 00:45:02,920
Speaker 9: current see better than the dollar today outside of gold.

839
00:45:03,200 --> 00:45:06,560
Speaker 9: Until that appears, I think central banks will continue increasing

840
00:45:06,600 --> 00:45:09,960
Speaker 9: gold hold things. Let's not forget gold overtook the euro

841
00:45:10,120 --> 00:45:13,200
Speaker 9: as the number two global reserve our set last year.

842
00:45:13,640 --> 00:45:16,880
Speaker 9: My feeling is those trends continue.

843
00:45:17,640 --> 00:45:21,200
Speaker 6: Well, Philip, how do people start to work with your team?

844
00:45:21,760 --> 00:45:24,120
Speaker 6: How do they start to work with your team? Where

845
00:45:24,160 --> 00:45:24,600
Speaker 6: do they go?

846
00:45:25,360 --> 00:45:28,200
Speaker 9: Of course, so very simple information is big for us

847
00:45:28,239 --> 00:45:31,840
Speaker 9: as it is for you. So Birch goold dot com forward,

848
00:45:31,840 --> 00:45:36,600
Speaker 9: slash spannon or text bannon to nine eight nine eight

849
00:45:36,680 --> 00:45:40,000
Speaker 9: nine eight, either one that will get them access to

850
00:45:40,160 --> 00:45:43,760
Speaker 9: free information kits how and wider by precious metals today

851
00:45:44,120 --> 00:45:47,840
Speaker 9: and importantly the installments of the end of the dollar empire.

852
00:45:47,880 --> 00:45:51,680
Speaker 9: So Birch Gold dot com forward slash Spannon, they can

853
00:45:51,719 --> 00:45:56,399
Speaker 9: reach me personally on geta at Philippatrick.

854
00:45:57,040 --> 00:46:00,520
Speaker 6: And people just remember that we don't get into it

855
00:46:00,560 --> 00:46:03,320
Speaker 6: a lot, but Birch Gold's got all kinds of methodologies

856
00:46:03,320 --> 00:46:06,480
Speaker 6: and mechanism for one k's iras tax deferred all of it.

857
00:46:06,520 --> 00:46:09,520
Speaker 6: Get into the details with them. We've partnered with these

858
00:46:09,520 --> 00:46:11,480
Speaker 6: guys for four years now. It's been a great partnership

859
00:46:11,520 --> 00:46:14,480
Speaker 6: because what we decided to do at the beginning is

860
00:46:14,560 --> 00:46:18,440
Speaker 6: do something different and give people information. So they understood

861
00:46:18,480 --> 00:46:21,240
Speaker 6: the dollar, they understood currency, they understood what the primary

862
00:46:21,320 --> 00:46:24,279
Speaker 6: serve currency is. They understood gold and how important gold

863
00:46:24,320 --> 00:46:26,120
Speaker 6: really is in the system, whereas a lot of people

864
00:46:26,120 --> 00:46:28,960
Speaker 6: dismiss it, and as Philip said, it's had a better

865
00:46:29,080 --> 00:46:32,400
Speaker 6: run in this century than any asset. Pretty it's not

866
00:46:32,480 --> 00:46:35,200
Speaker 6: what gold's really set up to do or done historically,

867
00:46:35,239 --> 00:46:37,960
Speaker 6: but hey, you never know, Philip Patrick, you guys a

868
00:46:38,000 --> 00:46:39,879
Speaker 6: are Birch Gold are terrific, and thank you for taking

869
00:46:39,920 --> 00:46:40,680
Speaker 6: care of everybody.

870
00:46:41,520 --> 00:46:43,600
Speaker 7: Thank you for having me. Steve good to see.

871
00:46:43,360 --> 00:46:48,040
Speaker 6: You're really if you get in with his team over there.

872
00:46:48,040 --> 00:46:50,919
Speaker 6: It would be a very good experience. Birch Gold dot com.

873
00:46:50,960 --> 00:46:54,560
Speaker 6: Go check it out today. Put promo code Bannon in

874
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Speaker 6: there and you get all the free access to the information.

875
00:46:57,520 --> 00:46:59,520
Speaker 6: Mike Lindell, did you win or did you lose? A

876
00:46:59,520 --> 00:47:03,359
Speaker 6: mainstream told me you lost. I'm hearing from the from

877
00:47:03,400 --> 00:47:07,200
Speaker 6: the alternative media asked that you won. What is it?

878
00:47:07,200 --> 00:47:10,280
Speaker 11: It's a big win. Everybody, my pill one hundred percent

879
00:47:10,480 --> 00:47:15,560
Speaker 11: innocent and Dick, we got completely validated that we did.

880
00:47:15,440 --> 00:47:17,400
Speaker 2: Nothing wrong, never did anything wrong.

881
00:47:17,520 --> 00:47:20,279
Speaker 11: And I want to tell you, Steve, the other part

882
00:47:20,320 --> 00:47:23,880
Speaker 11: that the mainstream media is telling you these all this

883
00:47:24,239 --> 00:47:27,240
Speaker 11: my statements. They said there's three of them that I made.

884
00:47:27,520 --> 00:47:30,239
Speaker 11: Realized they were all after I was attacked. It's like

885
00:47:30,360 --> 00:47:33,400
Speaker 11: being in jail and you bad mouth the guard you're

886
00:47:33,520 --> 00:47:35,480
Speaker 11: and you're in jail and you weren't supposed to be there.

887
00:47:35,800 --> 00:47:37,560
Speaker 6: They sued me first.

888
00:47:37,239 --> 00:47:40,719
Speaker 11: Before I did anything. And you know what, it's the

889
00:47:40,760 --> 00:47:44,920
Speaker 11: same team that called my pillows lumpy, remember that dame attorneys.

890
00:47:45,000 --> 00:47:48,319
Speaker 11: I think I called them all. I called them all criminals,

891
00:47:48,360 --> 00:47:51,239
Speaker 11: and uh, you know what, they're coming after me for it.

892
00:47:51,320 --> 00:47:52,480
Speaker 2: But we me one.

893
00:47:52,560 --> 00:47:56,040
Speaker 11: You guys, we keep fighting and my pillow is here

894
00:47:56,080 --> 00:47:56,560
Speaker 11: to stay.

895
00:47:56,560 --> 00:47:57,759
Speaker 2: We're not going anywhere.

896
00:47:57,960 --> 00:48:00,200
Speaker 11: And they asked me if I'm gonna quit talking about

897
00:48:00,200 --> 00:48:03,120
Speaker 11: secure in our elections. Of course I am, and I

898
00:48:03,160 --> 00:48:05,080
Speaker 11: wanted to get on here. I want to thank the

899
00:48:05,120 --> 00:48:07,720
Speaker 11: war Room pile to you guys. This is the last

900
00:48:07,719 --> 00:48:10,759
Speaker 11: few hours we did this. You guys supported us these

901
00:48:10,840 --> 00:48:14,760
Speaker 11: fullestael prices right from our factory so we could support

902
00:48:14,840 --> 00:48:15,280
Speaker 11: this trial.

903
00:48:15,360 --> 00:48:16,520
Speaker 2: Forty nine ninety eight.

904
00:48:16,880 --> 00:48:20,240
Speaker 11: Get your free my Pillow two point zero with any

905
00:48:20,320 --> 00:48:23,520
Speaker 11: purchase tonight. Do it now the last few hours of

906
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Speaker 11: the stale. Go to my Pillow dot com. Use the

907
00:48:26,239 --> 00:48:30,080
Speaker 11: famous promo code Warroom. Use that Warroom promo code. Get

908
00:48:30,080 --> 00:48:33,840
Speaker 11: the micrownses fifty percent off. Get all those Dieza sheets

909
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Speaker 11: you guys. You guys deserve them. Get them all forty

910
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Speaker 11: nine ninety eight, any size, any color. See if it's

911
00:48:39,640 --> 00:48:42,600
Speaker 11: an exciting date for my pillow. I'm telling you we're

912
00:48:42,640 --> 00:48:45,480
Speaker 11: here to stay. Made in the USA.

913
00:48:45,680 --> 00:48:49,439
Speaker 6: Promo code war Room, brother, the most powerful promo code

914
00:48:49,440 --> 00:48:52,239
Speaker 6: in the world. Will see tomorrow morning stick around the

915
00:48:52,320 --> 00:48:55,480
Speaker 6: second hour of the war Room will be quite intense