1
00:00:00,200 --> 00:00:00,440
Speaker 1: Joe.

2
00:00:00,480 --> 00:00:05,000
Speaker 2: I think that what we need to do is examine

3
00:00:05,440 --> 00:00:10,480
Speaker 2: the entire Federal Reserve institution and whether they have been successful.

4
00:00:10,920 --> 00:00:14,040
Speaker 2: I'm speaking actually, I'm going to be in the building

5
00:00:14,120 --> 00:00:19,600
Speaker 2: this evening. There is a regulatory conference that begins tomorrow.

6
00:00:20,000 --> 00:00:25,520
Speaker 2: I'm the keynote speaker tonight talking about regulation. The federal

7
00:00:25,960 --> 00:00:32,080
Speaker 2: as well. Monitor deals with monetary policy, regulations, financial stability,

8
00:00:32,720 --> 00:00:38,080
Speaker 2: and again I think that we should think has the

9
00:00:38,320 --> 00:00:42,640
Speaker 2: organization succeeded in its mission. You know, if this were

10
00:00:42,720 --> 00:00:47,159
Speaker 2: the FAA and we were having this many mistakes, we

11
00:00:47,240 --> 00:00:51,800
Speaker 2: would go back and look at why why has this happened?

12
00:00:52,200 --> 00:00:55,560
Speaker 2: I mean, look at the as you said at the

13
00:00:55,600 --> 00:00:58,720
Speaker 2: top of the at the top of this broadcast, there

14
00:00:58,800 --> 00:01:01,600
Speaker 2: were you know, there was fear mongoring over tariffs, and

15
00:01:01,680 --> 00:01:06,800
Speaker 2: thus far we have seen very little, if any inflation.

16
00:01:06,959 --> 00:01:10,840
Speaker 2: We've had great inflation numbers. So, you know, I think

17
00:01:10,880 --> 00:01:13,520
Speaker 2: this idea of them not being able to break out

18
00:01:13,560 --> 00:01:18,040
Speaker 2: of a certain mindset. You know, all these phdeps over there,

19
00:01:18,160 --> 00:01:19,720
Speaker 2: I don't know what they do. I don't know what

20
00:01:19,760 --> 00:01:25,560
Speaker 2: they do. This is like universal basic income for academic economists.

21
00:01:29,160 --> 00:01:31,720
Speaker 3: For the audience, I know, the audience thrives on action

22
00:01:31,840 --> 00:01:33,920
Speaker 3: as you should. You're the tip of the spear of

23
00:01:33,920 --> 00:01:36,640
Speaker 3: the action oriented part of the activist base that makes

24
00:01:36,720 --> 00:01:40,600
Speaker 3: things happen, have historically made things happen and have led Trump.

25
00:01:40,800 --> 00:01:44,680
Speaker 3: President Trump been the foundational element of his magnificent wounds.

26
00:01:45,560 --> 00:01:49,840
Speaker 3: You have two people I want to specifically discuss. That

27
00:01:50,000 --> 00:01:54,480
Speaker 3: is Taulca Gabbert and Scott Besson. As you know from

28
00:01:54,840 --> 00:01:57,680
Speaker 3: years on the show and best in particular, these are

29
00:01:57,720 --> 00:01:59,960
Speaker 3: safe pair hands. These are not people to run around

30
00:02:00,080 --> 00:02:04,280
Speaker 3: hair on fire. They're very stable. It's that theory. I

31
00:02:04,320 --> 00:02:06,520
Speaker 3: think it was Isaiah Berlin, the philosopher. You have the

32
00:02:06,920 --> 00:02:10,600
Speaker 3: fox versus the hedgehog. The hedgehog focuses on one thing

33
00:02:10,639 --> 00:02:14,399
Speaker 3: and just grinds. The fox skips around and skipping around. Right,

34
00:02:15,480 --> 00:02:18,240
Speaker 3: These people in that regard on the philosopher or kind

35
00:02:18,240 --> 00:02:22,640
Speaker 3: of hedgehot, they get very focused and they grind. I said,

36
00:02:22,800 --> 00:02:25,800
Speaker 3: and I repeat this, the three most powerful institutions I

37
00:02:25,880 --> 00:02:30,000
Speaker 3: believe in the imperial capital, in the imperial project are

38
00:02:30,040 --> 00:02:34,959
Speaker 3: the CIA, the Federal Reserve, and Sencom. Kind of the

39
00:02:34,960 --> 00:02:38,760
Speaker 3: the brains, the money, the brains in the network, the

40
00:02:38,800 --> 00:02:45,080
Speaker 3: money in the muscle. Right now, you have two of

41
00:02:45,120 --> 00:02:50,560
Speaker 3: these individuals. You have Tulci Gabbard is really on a

42
00:02:50,600 --> 00:02:53,840
Speaker 3: crusade to go after the CIA and the problem of

43
00:02:53,880 --> 00:02:57,959
Speaker 3: the deep state of the intelligence communities, both foreign and domestic,

44
00:02:57,960 --> 00:03:00,200
Speaker 3: and I including their six and Masade.

45
00:03:00,560 --> 00:03:03,720
Speaker 4: Okay, not just the five Eyes the CIA.

46
00:03:04,440 --> 00:03:09,000
Speaker 3: I six says, although the British Empire has dramatically dropped

47
00:03:09,000 --> 00:03:14,280
Speaker 3: as far as economic and financial power, given the power

48
00:03:14,360 --> 00:03:19,960
Speaker 3: and reach of their empire, given what they did for

49
00:03:20,000 --> 00:03:22,720
Speaker 3: the education process or bringing people back to Oxford and

50
00:03:22,760 --> 00:03:26,280
Speaker 3: Cambridge and all this education and have them live in London,

51
00:03:26,320 --> 00:03:31,079
Speaker 3: the Imperial capital, the British Intelligence Service is incredibly powerful.

52
00:03:31,160 --> 00:03:34,040
Speaker 3: They punch way above their weight. And there you have

53
00:03:34,080 --> 00:03:37,440
Speaker 3: Scott Besson. Scott Besson, you know President Trump has won.

54
00:03:37,520 --> 00:03:42,080
Speaker 3: He President Trump has a house style, right, He's dropping

55
00:03:42,480 --> 00:03:45,680
Speaker 3: body blows on Obama over the weekend. He's all over

56
00:03:45,800 --> 00:03:48,880
Speaker 3: to lay Pal Jaypoal. Scott besstt is very different. It's

57
00:03:48,960 --> 00:03:52,200
Speaker 3: very methodical. But he's going to get them. And as

58
00:03:52,240 --> 00:03:53,960
Speaker 3: we said for a long time, we don't even know

59
00:03:54,000 --> 00:03:55,320
Speaker 3: why we have a Federal Reserve.

60
00:03:56,000 --> 00:03:56,880
Speaker 4: Certainly the way.

61
00:03:56,680 --> 00:03:58,480
Speaker 3: We have it now that it's not owned by the

62
00:03:58,480 --> 00:04:00,640
Speaker 3: American people, it's kind of an independ in an agency

63
00:04:00,640 --> 00:04:04,240
Speaker 3: but it's not. It's funded by the American people. I

64
00:04:04,240 --> 00:04:06,880
Speaker 3: don't know trellion dollars of losses over there in their

65
00:04:06,920 --> 00:04:11,240
Speaker 3: bond portfolio, yet they're building the second verse. I right

66
00:04:11,280 --> 00:04:14,920
Speaker 3: in front of your face, Rickords, I know you've got

67
00:04:15,000 --> 00:04:16,800
Speaker 3: a lot to say about this topic, so I want

68
00:04:16,839 --> 00:04:17,520
Speaker 3: to turn it over to you.

69
00:04:17,600 --> 00:04:19,360
Speaker 4: Scott Besse is a very serious guy.

70
00:04:19,400 --> 00:04:22,279
Speaker 3: One of the reasons he was a contributor here for

71
00:04:22,400 --> 00:04:25,000
Speaker 3: years and I grew so close to Scott. Now he's

72
00:04:25,040 --> 00:04:26,280
Speaker 3: to understand capital markets.

73
00:04:26,320 --> 00:04:29,680
Speaker 4: He does not. He's not he doesn't skip around. He's boom.

74
00:04:29,760 --> 00:04:31,919
Speaker 3: He's very, very, very focused, and I thought would be

75
00:04:31,960 --> 00:04:35,600
Speaker 3: the perfect Secretary of Treasury for President Trump, as he

76
00:04:35,680 --> 00:04:39,200
Speaker 3: has as he turned out he has been. But right

77
00:04:39,240 --> 00:04:43,880
Speaker 3: now Scott Besson and President Trump basically are zeroing in on.

78
00:04:43,880 --> 00:04:44,599
Speaker 4: The Federal Reserve.

79
00:04:44,680 --> 00:04:47,760
Speaker 3: And what Scott said there last Yes this morning, which

80
00:04:47,839 --> 00:04:51,360
Speaker 3: is so powerful. It's not simply about an individual J.

81
00:04:51,560 --> 00:04:57,039
Speaker 3: Powell who's obviously seriously flawed. It's institutions. This is what

82
00:04:57,160 --> 00:05:00,560
Speaker 3: Tulca Gabbert's talking about. Is not just Brennan coming this,

83
00:05:00,760 --> 00:05:04,480
Speaker 3: but it's institutions. It's the FBI, it's the CIA, it's

84
00:05:04,520 --> 00:05:08,719
Speaker 3: the Intelligence Apparatus, it's DA, it's the House and Senate

85
00:05:09,240 --> 00:05:12,400
Speaker 3: Intelligence Committee, particularly the Senate. Mark warning these guys, these

86
00:05:12,400 --> 00:05:15,479
Speaker 3: are institutions. We have an institutional problem. If we just

87
00:05:15,480 --> 00:05:17,920
Speaker 3: get rid of the people and send them to prison, yes,

88
00:05:18,000 --> 00:05:20,760
Speaker 3: that has to be done, that's accountability. That's not going

89
00:05:20,839 --> 00:05:22,880
Speaker 3: to solve the problem. The problem is we have an

90
00:05:22,920 --> 00:05:27,479
Speaker 3: institutional We have an institutional crisis in this country. And

91
00:05:27,520 --> 00:05:32,840
Speaker 3: the Federal Reserve is structurally I think flawed, but institutionally

92
00:05:32,880 --> 00:05:38,640
Speaker 3: it's gotten out of control. Jim ricards your thoughts and assessment, sir, Well.

93
00:05:39,120 --> 00:05:42,040
Speaker 5: My favorite candidate for FED share is actually Linda McMahon.

94
00:05:42,080 --> 00:05:44,280
Speaker 5: I thought, if she can shut down the Education Department,

95
00:05:44,680 --> 00:05:46,599
Speaker 5: make her FED share and she can shut down the

96
00:05:46,600 --> 00:05:50,640
Speaker 5: FED hopefully. A couple of historical footnotes, Steve, These United

97
00:05:50,680 --> 00:05:53,279
Speaker 5: States did not have a central bank of any kind

98
00:05:53,320 --> 00:05:56,680
Speaker 5: between eighteen thirty six and nineteen thirteen. Okay, what happened

99
00:05:56,720 --> 00:05:58,720
Speaker 5: between eighteen thirty six and nineteen thirteen?

100
00:05:59,080 --> 00:05:59,920
Speaker 1: The Industrial Revolution?

101
00:06:00,320 --> 00:06:07,000
Speaker 5: Technology, telephone, telegraph, transcondental, railroad, you know, diesel powered harvesters, mining,

102
00:06:07,240 --> 00:06:09,839
Speaker 5: you know, we won how many wars, you know, et cetera.

103
00:06:10,000 --> 00:06:11,960
Speaker 5: It was one of the greatest periods of wealth creation

104
00:06:12,040 --> 00:06:14,800
Speaker 5: and prosperity in the history of the world with no

105
00:06:14,880 --> 00:06:17,400
Speaker 5: central bank. So that by itself shows you don't need

106
00:06:17,440 --> 00:06:21,360
Speaker 5: a central bank. Number one, Number two. Paul Krugman, he's

107
00:06:21,360 --> 00:06:23,600
Speaker 5: a little kind of marginalize these days, but for decades

108
00:06:23,640 --> 00:06:25,400
Speaker 5: he was saying, you know, we need a central bank

109
00:06:25,440 --> 00:06:27,080
Speaker 5: to prevent financial panics.

110
00:06:27,320 --> 00:06:28,120
Speaker 1: I did a study.

111
00:06:28,279 --> 00:06:30,359
Speaker 5: They showed financial panics when we did not have a

112
00:06:30,400 --> 00:06:33,080
Speaker 5: central bank and financial panics when we did have a

113
00:06:33,120 --> 00:06:34,280
Speaker 5: central bank, and.

114
00:06:34,240 --> 00:06:35,279
Speaker 1: It was about the same tempo.

115
00:06:35,440 --> 00:06:37,600
Speaker 5: Now as the central bank did not make any difference

116
00:06:37,800 --> 00:06:40,760
Speaker 5: in terms of the frequency of central panics or financial panics.

117
00:06:40,760 --> 00:06:43,200
Speaker 5: They happened for other reasons, nothing to do with the FED.

118
00:06:43,240 --> 00:06:46,200
Speaker 5: The idea that the FAY could bail you out is ridiculous.

119
00:06:46,360 --> 00:06:48,320
Speaker 5: What happened in two thousand and eight, You know, Ben

120
00:06:48,360 --> 00:06:51,560
Speaker 5: Bernanke and Hank Paulson walked over to the White House.

121
00:06:51,600 --> 00:06:53,320
Speaker 5: They said, you know, George Bush, the President. I said,

122
00:06:53,320 --> 00:06:55,800
Speaker 5: mister President, we can't do anything about Lehman brothers. We

123
00:06:55,800 --> 00:06:57,920
Speaker 5: can't save Liman brothers. That was nonsense. They hit the

124
00:06:57,920 --> 00:07:01,359
Speaker 5: statutory authority. They either had really bad lawyers or I

125
00:07:01,360 --> 00:07:03,360
Speaker 5: think what actually happened is Paulston one of them that

126
00:07:03,400 --> 00:07:05,599
Speaker 5: failed to prove a point. But of course that at

127
00:07:05,720 --> 00:07:08,039
Speaker 5: least one of the greatest panics in history. Now here's

128
00:07:08,080 --> 00:07:10,840
Speaker 5: the thing with with Scott Bessen. You know, there's some

129
00:07:10,920 --> 00:07:13,040
Speaker 5: talk that he might be named by Trump to be

130
00:07:13,120 --> 00:07:16,600
Speaker 5: FED chair. You know, people they threw up bands. Oh

131
00:07:16,680 --> 00:07:20,760
Speaker 5: my goodness, Trump's doing something unprecedented. Trump's doing something radically different. No,

132
00:07:21,000 --> 00:07:23,400
Speaker 5: that's not true. In nineteen thirteen, the Secretary of the

133
00:07:23,440 --> 00:07:26,560
Speaker 5: Treasury was a member of the Board of Governors. By statue,

134
00:07:26,640 --> 00:07:29,400
Speaker 5: the Treasury Secretary was on the Board of Governors the FED,

135
00:07:29,400 --> 00:07:31,040
Speaker 5: and they used to meet in the Treasury building.

136
00:07:31,200 --> 00:07:32,280
Speaker 1: So it's not on precedent.

137
00:07:32,320 --> 00:07:34,800
Speaker 5: It's actually be going we'd be going back to something

138
00:07:35,040 --> 00:07:37,120
Speaker 5: which is much closer to where the FED started. A

139
00:07:37,360 --> 00:07:40,320
Speaker 5: FDR abolished that seat for the Treasury Secretary, but he

140
00:07:40,360 --> 00:07:42,160
Speaker 5: was on there from day one.

141
00:07:42,320 --> 00:07:43,000
Speaker 1: But a couple of things.

142
00:07:43,040 --> 00:07:44,880
Speaker 5: I agree with you about the CIA and sant Com

143
00:07:44,920 --> 00:07:48,160
Speaker 5: being to the most powerful institutions.

144
00:07:48,440 --> 00:07:50,520
Speaker 1: I disagree a little bit with the FED.

145
00:07:50,640 --> 00:07:53,520
Speaker 5: Could people say that FAY controls money, That's not really true.

146
00:07:53,640 --> 00:07:57,200
Speaker 5: Money creation is controlled by banks, commercial banks. You want

147
00:07:57,240 --> 00:07:59,760
Speaker 5: to talk about money, big of the phone called Jammie

148
00:07:59,760 --> 00:08:02,240
Speaker 5: Dime called the head of City Wells Fargo bank of

149
00:08:02,240 --> 00:08:04,520
Speaker 5: a market. There are the people who actually control the economy,

150
00:08:04,520 --> 00:08:05,800
Speaker 5: and by the way, they own the FED.

151
00:08:06,400 --> 00:08:07,320
Speaker 1: Just as a footnote.

152
00:08:07,480 --> 00:08:10,119
Speaker 5: So people say, what about this money printing, Well, here's

153
00:08:10,120 --> 00:08:12,800
Speaker 5: how it works. When the FED wants to print money,

154
00:08:13,000 --> 00:08:15,040
Speaker 5: they buy government securities from dealers.

155
00:08:15,480 --> 00:08:16,560
Speaker 1: These do Chief.

156
00:08:16,320 --> 00:08:17,920
Speaker 5: Counsel one of the primary dealers. I talk to the

157
00:08:17,960 --> 00:08:20,200
Speaker 5: FED every day. They call up the dealer, they say,

158
00:08:20,320 --> 00:08:21,360
Speaker 5: offer me ten yure notes.

159
00:08:21,400 --> 00:08:21,840
Speaker 1: Done.

160
00:08:22,560 --> 00:08:24,680
Speaker 5: You send the notes to the FED and they give

161
00:08:24,680 --> 00:08:26,120
Speaker 5: you money that comes out of thin air.

162
00:08:26,440 --> 00:08:28,600
Speaker 1: So that money is created out of thin air.

163
00:08:28,680 --> 00:08:31,480
Speaker 5: That's true. But what do the dealers do with the money?

164
00:08:31,800 --> 00:08:33,800
Speaker 5: They give it back to the Fed in the forum

165
00:08:33,840 --> 00:08:36,600
Speaker 5: of access reserves. So all you're doing is inflating both

166
00:08:36,600 --> 00:08:38,840
Speaker 5: sides of the balance sheet, you know, to the trillions

167
00:08:38,840 --> 00:08:41,520
Speaker 5: of dollars with all those excess reserves. That money does

168
00:08:41,559 --> 00:08:43,760
Speaker 5: not get lent, it does not get spent. It is

169
00:08:43,800 --> 00:08:47,000
Speaker 5: not stimulus. It just sits there sterilized. That's the technical

170
00:08:47,080 --> 00:08:47,520
Speaker 5: term for it.

171
00:08:47,800 --> 00:08:49,920
Speaker 1: Where's the money come from that actually wants economy. It

172
00:08:49,920 --> 00:08:52,120
Speaker 1: comes from the commercial banks. Number one, as far as

173
00:08:52,160 --> 00:08:54,640
Speaker 1: Jay Powe is concerned. His term is up.

174
00:08:54,720 --> 00:08:57,120
Speaker 5: His term is chair is up in May of twenty

175
00:08:57,200 --> 00:08:59,160
Speaker 5: twenty six. He's not going to be around that long anyway,

176
00:08:59,280 --> 00:09:02,480
Speaker 5: I'm sure he's not. And whenever, yep, But why would you?

177
00:09:03,240 --> 00:09:07,040
Speaker 5: The President probably could fire him. This testimony, you know,

178
00:09:07,120 --> 00:09:10,320
Speaker 5: under oath, is enough of an excuse to fire him

179
00:09:10,400 --> 00:09:12,280
Speaker 5: if you really want to do that, why would you?

180
00:09:12,640 --> 00:09:14,800
Speaker 5: The economy might be in for a tough passion. I'm

181
00:09:14,840 --> 00:09:17,800
Speaker 5: a fan of I call it Maganomics, trump andomics, et cetera.

182
00:09:17,960 --> 00:09:20,040
Speaker 5: I think the economy will do very well over the

183
00:09:20,040 --> 00:09:22,760
Speaker 5: next four years, but we could be heading into recession

184
00:09:22,800 --> 00:09:25,800
Speaker 5: over the next six months or so. And by the way,

185
00:09:26,480 --> 00:09:30,040
Speaker 5: you know, Trump says he wants lower interest rates. What

186
00:09:30,160 --> 00:09:32,959
Speaker 5: interest rates is the Fed set? They set something called

187
00:09:32,960 --> 00:09:35,839
Speaker 5: the policy rate, which is the Fed Funds target rate.

188
00:09:35,880 --> 00:09:38,880
Speaker 5: What are Fed funds money that banks lendo each other overnight.

189
00:09:39,120 --> 00:09:41,640
Speaker 5: There hasn't been a Fed funds market since two thousand

190
00:09:41,679 --> 00:09:45,160
Speaker 5: and eight because they have access reserves. They've got trillions

191
00:09:45,160 --> 00:09:47,160
Speaker 5: of dollars of access reserves. They don't need to borrow

192
00:09:47,160 --> 00:09:49,480
Speaker 5: in that market. So the Fed sets a rate for

193
00:09:49,520 --> 00:09:53,080
Speaker 5: a market that doesn't exist. Okay, Now, Trump says, I

194
00:09:53,120 --> 00:09:56,360
Speaker 5: want lower interest rate costs with the federal budget depthicit. Okay, fine,

195
00:09:56,520 --> 00:10:00,200
Speaker 5: where does that come from. The shortest maturity treasury bill

196
00:10:00,320 --> 00:10:03,440
Speaker 5: is a four week bill, very short, very liquid, very safe,

197
00:10:03,760 --> 00:10:06,600
Speaker 5: you know, et cetera. There's something called the overnight financing rate,

198
00:10:06,600 --> 00:10:08,480
Speaker 5: which is kind of like the repail rate. Those are

199
00:10:08,520 --> 00:10:11,880
Speaker 5: the two most Those are the two safest, most liquid

200
00:10:12,000 --> 00:10:15,480
Speaker 5: short term funding rates. Both of them are lower than

201
00:10:15,520 --> 00:10:18,360
Speaker 5: the Fed Fund's target In other words, the market is

202
00:10:18,400 --> 00:10:22,240
Speaker 5: doing Trump's job for them. The market is already lower

203
00:10:22,280 --> 00:10:24,319
Speaker 5: than the Fed Fund's target rates, so the Fed is

204
00:10:24,360 --> 00:10:25,160
Speaker 5: actually irrelevant.

205
00:10:25,200 --> 00:10:27,000
Speaker 1: They could. I don't think they're going to lower rates of.

206
00:10:27,000 --> 00:10:28,760
Speaker 5: The July meeting. They have immediate at the end of July.

207
00:10:28,840 --> 00:10:31,800
Speaker 5: I think Pal's going to pause. That will be another

208
00:10:31,840 --> 00:10:33,480
Speaker 5: you know, the White House will blow another guess goot

209
00:10:33,480 --> 00:10:35,400
Speaker 5: over that. But it doesn't matter because.

210
00:10:35,160 --> 00:10:36,280
Speaker 1: The market is actually.

211
00:10:38,880 --> 00:10:39,400
Speaker 4: Uh jim.

212
00:10:39,480 --> 00:10:41,920
Speaker 3: Where do people Where do people go and get your

213
00:10:42,320 --> 00:10:43,720
Speaker 3: and get strategic intelligence?

214
00:10:43,760 --> 00:10:45,400
Speaker 4: How do they get there? How they get your free book?

215
00:10:46,520 --> 00:10:47,040
Speaker 1: Thank you, Steve.

216
00:10:47,080 --> 00:10:51,360
Speaker 5: We have a landing page. It's ricordswarroom dot com. It's

217
00:10:51,520 --> 00:10:53,440
Speaker 5: rickors warroom dot com.

218
00:10:53,760 --> 00:10:54,240
Speaker 1: You go there.

219
00:10:54,280 --> 00:10:57,080
Speaker 5: You can subscribe to our flagship newsletter, Strategic Intelligence.

220
00:10:57,200 --> 00:10:59,000
Speaker 1: We put a lot of work into it every month,

221
00:10:59,040 --> 00:11:00,960
Speaker 1: cover you know, range of topics.

222
00:11:01,200 --> 00:11:03,640
Speaker 5: We have a free book offer we hope people will

223
00:11:03,760 --> 00:11:07,960
Speaker 5: join us and also on X I'm at Real Gym Records.

224
00:11:07,960 --> 00:11:09,479
Speaker 1: At Real Gym Records.

225
00:11:10,800 --> 00:11:12,280
Speaker 4: I'd make the pitch all the time.

226
00:11:12,320 --> 00:11:15,360
Speaker 3: It's read by people in c suites all over the world, right,

227
00:11:15,440 --> 00:11:19,000
Speaker 3: chairmen and CEOs. If you're not yet a chairman of CEO,

228
00:11:19,360 --> 00:11:21,400
Speaker 3: or maybe if you're a younger person, or let's just

229
00:11:21,440 --> 00:11:24,880
Speaker 3: say that you're not really on the corporate track. Why

230
00:11:24,960 --> 00:11:28,280
Speaker 3: is strategic intelligence? I must ready? Why should people what's

231
00:11:28,320 --> 00:11:30,840
Speaker 3: the case for someone that's not on a career track

232
00:11:30,880 --> 00:11:33,559
Speaker 3: that needs this information because it helps them in their job,

233
00:11:33,600 --> 00:11:36,120
Speaker 3: it helps them understand the world. What's the case for

234
00:11:36,160 --> 00:11:39,119
Speaker 3: somebody that's not on that career track to get this newsletter?

235
00:11:40,240 --> 00:11:43,360
Speaker 5: Well, we're independent, We were not working for a broker dealer.

236
00:11:43,559 --> 00:11:46,400
Speaker 5: We don't have to follow the Wall Street narrative. We

237
00:11:46,480 --> 00:11:49,240
Speaker 5: do longs and shorts. We have you know, stock recommendations

238
00:11:49,240 --> 00:11:51,679
Speaker 5: where we make money if the market goes up, but

239
00:11:51,720 --> 00:11:54,280
Speaker 5: we also have short positions where you make money if

240
00:11:54,280 --> 00:11:55,080
Speaker 5: the market goes down.

241
00:11:55,280 --> 00:11:57,680
Speaker 1: But where you know, we actually think hard about the topic.

242
00:11:57,720 --> 00:11:59,760
Speaker 5: I would say the greatest value out of Steve is

243
00:12:00,200 --> 00:12:02,640
Speaker 5: break with the narrative. First of all, we identify a narrative.

244
00:12:02,720 --> 00:12:04,920
Speaker 5: Wall Street loves narratives. It's just a story.

245
00:12:05,200 --> 00:12:06,560
Speaker 1: Most of them are wrong and most of them are

246
00:12:06,559 --> 00:12:06,920
Speaker 1: made up.

247
00:12:06,960 --> 00:12:09,480
Speaker 5: So we identify the story, we break with it, and

248
00:12:09,520 --> 00:12:12,080
Speaker 5: we tell people what's actually going on. And our ability,

249
00:12:12,080 --> 00:12:14,160
Speaker 5: our predictive analytics, our ability to tell you what's going

250
00:12:14,240 --> 00:12:16,200
Speaker 5: to happen next is second to none.

251
00:12:18,840 --> 00:12:19,560
Speaker 4: Jim Rickards.

252
00:12:19,559 --> 00:12:22,320
Speaker 3: Also, we're thrown a free book money GPT, which is

253
00:12:22,480 --> 00:12:27,040
Speaker 3: very prescient about artificial intelligence and currency. Currency Wars was

254
00:12:27,080 --> 00:12:29,599
Speaker 3: the first way I came acquainted with you back I

255
00:12:29,600 --> 00:12:32,760
Speaker 3: don't know, fifteen years ago. It was a credible, incredible book.

256
00:12:32,800 --> 00:12:36,280
Speaker 3: I still recommend it today. Rickardsworom dot com. You go,

257
00:12:36,360 --> 00:12:39,440
Speaker 3: you get access to strategic intelligence. Also the free book.

258
00:12:39,760 --> 00:12:41,800
Speaker 3: Jim Reckerds, thank you for kicking off the week for us.

259
00:12:41,840 --> 00:12:42,400
Speaker 4: Appreciate you.

260
00:12:43,160 --> 00:12:44,199
Speaker 1: Thanks.

261
00:12:47,720 --> 00:12:51,480
Speaker 3: This situation with Tulca Gabbard, the situation with this Epstein

262
00:12:52,200 --> 00:12:57,400
Speaker 3: situation about the information, this situation with auto pen, which

263
00:12:57,440 --> 00:12:59,840
Speaker 3: is this other you know, we had Rachel Beauvart on

264
00:13:00,679 --> 00:13:04,680
Speaker 3: the auto pen situation is almost as outrageous as the others.

265
00:13:05,080 --> 00:13:08,000
Speaker 3: Here's where the apparas itself. The deep state just basically

266
00:13:08,240 --> 00:13:10,280
Speaker 3: Biden was a front for it.

267
00:13:09,880 --> 00:13:13,160
Speaker 4: Just knew him out of the way and ran it themselves.

268
00:13:13,480 --> 00:13:16,360
Speaker 3: Some of the same names you'll see popping up, Lisa Monico,

269
00:13:17,360 --> 00:13:21,080
Speaker 3: others in the Biden regime, or just some of the

270
00:13:21,120 --> 00:13:24,240
Speaker 3: cast of characters back in twenty fifteen. It's only going

271
00:13:24,320 --> 00:13:26,200
Speaker 3: to happen if we put our shoulder to the wheel.

272
00:13:27,200 --> 00:13:29,200
Speaker 3: We have to have Taulca Gabbert's back, we have to

273
00:13:29,240 --> 00:13:31,520
Speaker 3: have d and I's back. We have to demand answers.

274
00:13:32,080 --> 00:13:34,080
Speaker 3: We have to continue to put the pressure on either

275
00:13:34,120 --> 00:13:37,280
Speaker 3: for a special prosecutor or someone at the Justice Department

276
00:13:37,320 --> 00:13:41,160
Speaker 3: to take these investigations on as their sole responsibility and

277
00:13:41,200 --> 00:13:42,559
Speaker 3: to keep hammering the courts.

278
00:13:43,160 --> 00:13:44,400
Speaker 4: You see what they're doing right now.

279
00:13:44,440 --> 00:13:48,560
Speaker 3: You have Alena Habab who's President Trump's selection in New Jersey.

280
00:13:48,559 --> 00:13:51,560
Speaker 3: They're trying to remove her. Even as we speak, fifteen

281
00:13:51,600 --> 00:13:56,600
Speaker 3: federal judges. President Trump's on the onslaught of this radical judiciary.

282
00:13:56,920 --> 00:13:59,960
Speaker 3: I believe he's won fifteen of the seventeen or fourteen

283
00:14:00,200 --> 00:14:02,679
Speaker 3: of the sixteen that have gone to the Supreme Court.

284
00:14:03,160 --> 00:14:05,040
Speaker 3: But every day they're trying to pound, they're trying to

285
00:14:05,080 --> 00:14:07,120
Speaker 3: time up in a court to make sure that he

286
00:14:07,160 --> 00:14:13,440
Speaker 3: can't fulfill his article to his arcer two power. We're

287
00:14:13,480 --> 00:14:15,839
Speaker 3: in the deciding moment now, as I told you before

288
00:14:15,880 --> 00:14:17,960
Speaker 3: the first ten years coming down the golden escalator. The

289
00:14:18,000 --> 00:14:20,760
Speaker 3: next two hundred days are going to be the most

290
00:14:20,800 --> 00:14:23,760
Speaker 3: important in President Trump's entire time since he's come and

291
00:14:24,480 --> 00:14:27,080
Speaker 3: sought political office, because you have the convergence of the

292
00:14:27,120 --> 00:14:34,320
Speaker 3: crises from the mass deportations, which the radical left plus

293
00:14:34,360 --> 00:14:36,360
Speaker 3: a lot of the apparatus has just said, no, it's

294
00:14:36,360 --> 00:14:37,760
Speaker 3: not going to happen. You may be able to get

295
00:14:37,800 --> 00:14:39,600
Speaker 3: rid of a handful of bad guys, but that's it,

296
00:14:40,160 --> 00:14:43,200
Speaker 3: and that only scratches the surface to the war in Ukraine,

297
00:14:43,560 --> 00:14:47,720
Speaker 3: the war in Persia. It's all converging right now. And

298
00:14:47,760 --> 00:14:52,240
Speaker 3: that's why you've seen and Tulsa Gabertt had the courage, yes,

299
00:14:52,320 --> 00:14:56,960
Speaker 3: the physical courage, actually unlock the coup that happened in

300
00:14:57,000 --> 00:14:57,720
Speaker 3: twenty sixteen.

301
00:14:57,880 --> 00:14:59,440
Speaker 4: Short commercial breaks back in a moment