1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, Podcasts, radio news. 2 00:00:09,200 --> 00:00:13,800 Speaker 2: This is a breaking news update from Bloomberg, instant. 3 00:00:13,400 --> 00:00:17,480 Speaker 3: Reaction and analysis from our three thousand journalists and analysts 4 00:00:17,560 --> 00:00:21,239 Speaker 3: around the world, live from mar A Lago on Bloomberg's 5 00:00:21,239 --> 00:00:24,599 Speaker 3: TV and radio answering a series of questions alongside the 6 00:00:24,640 --> 00:00:28,120 Speaker 3: Defense Secretary Pete Hegseth, the Chairman of the Joint Chiefs 7 00:00:28,120 --> 00:00:31,520 Speaker 3: of Staff, Dan Cain. We learned a lot together over 8 00:00:31,560 --> 00:00:33,680 Speaker 3: the past half hour or so, and I want to 9 00:00:33,720 --> 00:00:36,000 Speaker 3: just unpack some of what we learned. If you're just 10 00:00:36,120 --> 00:00:38,040 Speaker 3: joining us, thank you for being here with a special 11 00:00:38,200 --> 00:00:41,120 Speaker 3: edition of Balance of Power on Bloomberg's TV and Radio, 12 00:00:41,200 --> 00:00:45,200 Speaker 3: streaming live on YouTube with breaking news on this Saturday, 13 00:00:45,200 --> 00:00:49,360 Speaker 3: the third of January. Mission Absolute Resolve, the name of 14 00:00:49,400 --> 00:00:53,200 Speaker 3: the operation that took place last evening in Venezuela. Dan 15 00:00:53,320 --> 00:00:58,440 Speaker 3: Cain describing months of work by Intel to find Nicholas Maduro, 16 00:00:58,480 --> 00:01:00,240 Speaker 3: who is now on his way to New York to 17 00:01:00,280 --> 00:01:03,600 Speaker 3: face charges. Months of work, he described, to understand where 18 00:01:03,640 --> 00:01:06,560 Speaker 3: he traveled, what he ate, what he wore, what were 19 00:01:06,640 --> 00:01:09,319 Speaker 3: his pets. The key, he said, was choosing the right 20 00:01:09,400 --> 00:01:12,640 Speaker 3: day to minimize civilian harm. He described one hundred and 21 00:01:12,680 --> 00:01:17,000 Speaker 3: fifty military aircraft involved, and indeed one of the helicopters 22 00:01:17,080 --> 00:01:20,000 Speaker 3: that was involved in this mission came under fire but 23 00:01:20,120 --> 00:01:24,240 Speaker 3: remained fliable. He said, all of our aircraft came home. 24 00:01:24,720 --> 00:01:28,520 Speaker 3: President Trump, referring to the transition here and a remarkable 25 00:01:28,520 --> 00:01:31,520 Speaker 3: headline that crossed the terminal a short time ago, quote, 26 00:01:31,920 --> 00:01:34,880 Speaker 3: we are going to run it, essentially, referring to the 27 00:01:34,920 --> 00:01:39,080 Speaker 3: country of Venezuela until such time as proper transition can 28 00:01:39,120 --> 00:01:41,920 Speaker 3: take place. He said as well, we are not afraid 29 00:01:41,920 --> 00:01:43,959 Speaker 3: of boots on the ground if we have to, and 30 00:01:44,000 --> 00:01:47,319 Speaker 3: we're going to make sure that this is proper. We're 31 00:01:47,400 --> 00:01:50,400 Speaker 3: there now and says for a period of time, it'll 32 00:01:50,400 --> 00:01:53,920 Speaker 3: be the people that are standing right behind me who 33 00:01:53,920 --> 00:01:57,120 Speaker 3: will be running the country, referring to Secretary of State 34 00:01:57,160 --> 00:02:01,560 Speaker 3: Marco Rubio, Secretary of Defense, and others. We saw the 35 00:02:01,680 --> 00:02:04,320 Speaker 3: leaders of the CIA and FBI in the room as well, 36 00:02:04,320 --> 00:02:07,520 Speaker 3: at mar A Lago at my side today in Washington, 37 00:02:07,720 --> 00:02:10,040 Speaker 3: Christina at Ruffini, who has spent many years covering the 38 00:02:10,040 --> 00:02:13,320 Speaker 3: State Department in foreign policy. This is something we've never 39 00:02:13,400 --> 00:02:15,840 Speaker 3: quite seen, certainly from an America first president. 40 00:02:15,840 --> 00:02:17,320 Speaker 2: As he calls himself, I mean. 41 00:02:17,200 --> 00:02:19,240 Speaker 1: No, and one of the questions was how is this 42 00:02:19,320 --> 00:02:23,560 Speaker 1: America first? And the President responded, America needs safe neighbors 43 00:02:23,600 --> 00:02:26,720 Speaker 1: and also we need energy, and that's our energy. And 44 00:02:26,760 --> 00:02:28,960 Speaker 1: one of the more remarkable moments was the one you 45 00:02:29,000 --> 00:02:31,639 Speaker 1: were just referencing where he said the US will be 46 00:02:31,720 --> 00:02:34,720 Speaker 1: running Venezuela until we can make sure that they're doing properly. 47 00:02:35,240 --> 00:02:38,920 Speaker 1: The other moment was when he was asked about Marie Richatda, 48 00:02:38,960 --> 00:02:41,280 Speaker 1: the novel laureate, and said he doesn't think she's up 49 00:02:41,280 --> 00:02:42,760 Speaker 1: to the job. He doesn't think it's going to be her. 50 00:02:42,840 --> 00:02:44,560 Speaker 1: He doesn't think she doesn't support of the people. 51 00:02:44,880 --> 00:02:47,800 Speaker 3: That's really remarkable because there were questions about whether she 52 00:02:47,919 --> 00:02:50,480 Speaker 3: was in fact talking with him about next steps here. 53 00:02:50,680 --> 00:02:52,120 Speaker 3: I think it'd be very tough for her to be 54 00:02:52,160 --> 00:02:54,360 Speaker 3: the leader, he said. Quote she's a very nice woman, 55 00:02:54,680 --> 00:02:58,120 Speaker 3: but she doesn't have the respect to have the job, 56 00:02:58,320 --> 00:03:00,600 Speaker 3: having won the Nobel Peace Prize and referred to as 57 00:03:00,600 --> 00:03:03,320 Speaker 3: an opposition leader for a reason. Here, we want to 58 00:03:03,320 --> 00:03:06,960 Speaker 3: bring in a voice from Capitol Hill, and it's an 59 00:03:07,000 --> 00:03:10,400 Speaker 3: important one in Congressman Brad Schneider, the Democrat from Illinois, 60 00:03:10,560 --> 00:03:13,239 Speaker 3: is chair of the new Democrat Coalition. As we just 61 00:03:13,280 --> 00:03:18,399 Speaker 3: spent quite a period of time listening to the Republican administration. Congressman, 62 00:03:18,480 --> 00:03:21,519 Speaker 3: we'd like to hear from your side of the aisle 63 00:03:21,600 --> 00:03:25,600 Speaker 3: on this. Secretary Rubio says he did call members of 64 00:03:25,680 --> 00:03:28,880 Speaker 3: Congress immediately after these strikes took place. 65 00:03:29,600 --> 00:03:31,000 Speaker 2: Did you get a call? 66 00:03:31,320 --> 00:03:34,440 Speaker 3: Did any of your Democratic colleagues receive a briefing this morning? 67 00:03:35,360 --> 00:03:35,800 Speaker 2: I didn't. 68 00:03:35,880 --> 00:03:37,280 Speaker 4: I don't know of any of my colleges who have 69 00:03:37,280 --> 00:03:40,720 Speaker 4: gone briefing. I've seen statements from folks like Jim Himes, 70 00:03:40,760 --> 00:03:43,760 Speaker 4: who is the ranking member on Intelligence, Mark Warner, and 71 00:03:43,760 --> 00:03:46,680 Speaker 4: the Senate who've all said they had not heard anything. 72 00:03:47,280 --> 00:03:52,120 Speaker 4: And Joe, this is a critical moment for our country. 73 00:03:52,680 --> 00:03:55,800 Speaker 4: The president, well, when I go back, Christian Maduro, Maduro 74 00:03:55,880 --> 00:03:58,840 Speaker 4: is a bad actor who deserves to face justice. He's 75 00:03:58,840 --> 00:04:01,640 Speaker 4: stolen election in twenty twenty four and stawed himself as 76 00:04:01,720 --> 00:04:05,600 Speaker 4: president this time last year. He's been indicted by New 77 00:04:05,720 --> 00:04:09,000 Speaker 4: York or US Court in New York, And so I'm 78 00:04:09,000 --> 00:04:12,520 Speaker 4: not going to defend Maduro or mourn for his demise. 79 00:04:13,160 --> 00:04:15,320 Speaker 4: But the fact of the matter is that the president 80 00:04:16,200 --> 00:04:18,480 Speaker 4: needs to follow the Constitution, and it is only the 81 00:04:18,800 --> 00:04:22,360 Speaker 4: United States Congress who has the authority to declare war 82 00:04:23,080 --> 00:04:26,279 Speaker 4: has the authority to authorize military force. The president can 83 00:04:26,320 --> 00:04:28,559 Speaker 4: take action if there is an imminent threat. 84 00:04:28,880 --> 00:04:29,880 Speaker 2: The President needs. 85 00:04:29,640 --> 00:04:32,560 Speaker 4: To show Congress and the American people what was that threat, 86 00:04:32,640 --> 00:04:36,120 Speaker 4: what is the legal justification? And critically, especially as you said, 87 00:04:36,200 --> 00:04:39,560 Speaker 4: is he's now saying the US is going to run Venezuela. 88 00:04:39,839 --> 00:04:42,680 Speaker 4: How is the United States going to guarantee or ensure 89 00:04:42,720 --> 00:04:45,799 Speaker 4: that Venezuela doesn't become a failed state and a threat 90 00:04:45,839 --> 00:04:47,839 Speaker 4: to its neighbors in the United States as a whole. 91 00:04:48,720 --> 00:04:51,440 Speaker 3: Well, you're on intel and foreign affairs, Congressman. We heard 92 00:04:51,440 --> 00:04:53,880 Speaker 3: from John Thune and Mike Johnson earlier today that there 93 00:04:53,880 --> 00:04:56,919 Speaker 3: would be briefings planned for early next week. Is that 94 00:04:56,960 --> 00:04:59,279 Speaker 3: your understanding. I suspect you'd be the first to be 95 00:04:59,320 --> 00:04:59,719 Speaker 3: in the room. 96 00:04:59,800 --> 00:05:00,000 Speaker 2: Right. 97 00:05:00,200 --> 00:05:02,400 Speaker 4: Yeah, I'm not on Intel, I'm on ways and means 98 00:05:02,400 --> 00:05:04,560 Speaker 4: in foreign affairs. But we do need to have briefings. 99 00:05:04,760 --> 00:05:08,800 Speaker 4: The administration needs to come to Congress as soon as 100 00:05:08,800 --> 00:05:11,560 Speaker 4: we get back and brief us in a classified format, 101 00:05:11,880 --> 00:05:15,320 Speaker 4: laying out its justification for the attack, laying out its 102 00:05:15,600 --> 00:05:19,480 Speaker 4: legal authority for taking this attack. And quite honestly, I 103 00:05:19,480 --> 00:05:23,640 Speaker 4: don't think the American people wants this administration running another country. 104 00:05:23,640 --> 00:05:26,200 Speaker 4: They're already having enough trouble running this country. 105 00:05:27,680 --> 00:05:29,560 Speaker 1: Congressman, what about that? That was one of the more 106 00:05:29,600 --> 00:05:32,960 Speaker 1: startling revelations of that press conference when President Trump said, well, 107 00:05:32,960 --> 00:05:34,919 Speaker 1: who's going to be running Venezuela and he kind of 108 00:05:35,000 --> 00:05:37,920 Speaker 1: gestured to the people behind him, and then more follow 109 00:05:38,000 --> 00:05:40,520 Speaker 1: ups from the press. What is the mechanism for this? 110 00:05:40,920 --> 00:05:44,279 Speaker 1: How long he basically said. At one point he said, 111 00:05:44,320 --> 00:05:46,200 Speaker 1: you know, it could take about a year, and then 112 00:05:46,240 --> 00:05:47,839 Speaker 1: he said, but it takes a very long time to 113 00:05:47,839 --> 00:05:50,280 Speaker 1: get the oil. And then he said, not only would 114 00:05:50,279 --> 00:05:52,680 Speaker 1: the US be using that oil to pay for I'm 115 00:05:52,720 --> 00:05:56,920 Speaker 1: assuming it's administration of Venezuela, but would also be reimbursing 116 00:05:57,040 --> 00:06:01,159 Speaker 1: its health for damages. Donald Trump Sayszezuela has inflicted on 117 00:06:01,200 --> 00:06:02,039 Speaker 1: the United States. 118 00:06:03,040 --> 00:06:05,920 Speaker 4: Well, for Trumpet, it's always about the money. It's always 119 00:06:05,920 --> 00:06:09,440 Speaker 4: about enriching himself. So that's a concern. This administration hasn't 120 00:06:09,440 --> 00:06:11,520 Speaker 4: earned the benefit of the doubt from the American people 121 00:06:11,560 --> 00:06:13,640 Speaker 4: to know that it's putting American interests first and not 122 00:06:13,720 --> 00:06:16,200 Speaker 4: the interests of folks like Trump and his family and friends. 123 00:06:17,000 --> 00:06:20,160 Speaker 4: That said, we need to understand what are the steps 124 00:06:20,200 --> 00:06:24,640 Speaker 4: to ensure that Venezuela doesn't descend into a state of 125 00:06:24,720 --> 00:06:27,880 Speaker 4: chaos and threatened the entire region. It's ironic that thirty 126 00:06:27,880 --> 00:06:32,520 Speaker 4: five years ago today Noriega, President Noriega of Panama, surrendered 127 00:06:32,720 --> 00:06:33,799 Speaker 4: to US forces. 128 00:06:34,080 --> 00:06:35,760 Speaker 2: The US invaded Panama on. 129 00:06:35,720 --> 00:06:38,800 Speaker 4: December twentieth of nineteen eighty nine. 130 00:06:38,960 --> 00:06:40,159 Speaker 2: Noriega was arrested. 131 00:06:40,440 --> 00:06:43,760 Speaker 4: The difference was on December twentieth, the day of that invasion, 132 00:06:44,080 --> 00:06:48,600 Speaker 4: the United States put in place a new president from Panama. 133 00:06:48,680 --> 00:06:52,000 Speaker 4: The Panamanian people governed themselves, and so we need to 134 00:06:52,080 --> 00:06:54,040 Speaker 4: understand why that isn't happening here. 135 00:06:54,800 --> 00:06:56,440 Speaker 2: And as you noted earlier that the. 136 00:06:56,400 --> 00:07:01,920 Speaker 4: President has said he doesn't have confidence in the opposition leader, 137 00:07:02,000 --> 00:07:04,679 Speaker 4: she has broad trust of the Venezuelan people. 138 00:07:04,960 --> 00:07:07,320 Speaker 2: We need to make sure that we have a government. 139 00:07:07,000 --> 00:07:11,560 Speaker 4: Of Venezuelans for Venezuelans, protecting their interests, in ensuring a 140 00:07:11,600 --> 00:07:13,119 Speaker 4: strong relationship with the regent. 141 00:07:14,280 --> 00:07:18,000 Speaker 3: Saw your statement on Twitter earlier, Congressman, you write, Maduro 142 00:07:18,120 --> 00:07:20,600 Speaker 3: is a bad guy who deserves to be brought to justice, 143 00:07:20,920 --> 00:07:23,760 Speaker 3: but that does not mean President Trump has blanket authority 144 00:07:23,800 --> 00:07:26,560 Speaker 3: to send the US military into a foreign land without 145 00:07:26,640 --> 00:07:30,760 Speaker 3: authorization by Congress. There have been multiple attempts by Democrats. 146 00:07:30,840 --> 00:07:34,560 Speaker 3: We spoke recently with Congressman Jim McGovern about his effort 147 00:07:34,680 --> 00:07:37,040 Speaker 3: to get a War Powers Act on the floor of 148 00:07:37,080 --> 00:07:39,040 Speaker 3: the House. You don't see that going anywhere with a 149 00:07:39,080 --> 00:07:41,120 Speaker 3: Republican majority, do you not? 150 00:07:41,280 --> 00:07:45,560 Speaker 4: With this majority who have lost their sense of responsibility. 151 00:07:45,800 --> 00:07:49,239 Speaker 4: The founders established with the Constitution three co equal branches 152 00:07:49,280 --> 00:07:52,400 Speaker 4: of government, and they rightly put the authority to declare war, 153 00:07:52,480 --> 00:07:56,120 Speaker 4: to take the United States into foreign conflicts, to put 154 00:07:56,240 --> 00:07:57,440 Speaker 4: US troops. 155 00:07:57,320 --> 00:07:59,720 Speaker 2: In harm's way. Put that with the Congress. 156 00:08:00,040 --> 00:08:02,920 Speaker 4: It is the Congress that faces the voters every two years. 157 00:08:03,000 --> 00:08:06,280 Speaker 4: Is the Congress today four hundred and thirty five representatives 158 00:08:06,520 --> 00:08:09,200 Speaker 4: who reflect the interest and the values of the American 159 00:08:09,200 --> 00:08:11,520 Speaker 4: people as a whole, And it is Congress who has 160 00:08:11,560 --> 00:08:15,840 Speaker 4: the ability to respond and react. We need to make 161 00:08:15,880 --> 00:08:19,800 Speaker 4: sure that Congressional authority is protected. We need to take 162 00:08:19,840 --> 00:08:22,440 Speaker 4: back that authority that this administration is. You served not 163 00:08:22,520 --> 00:08:24,560 Speaker 4: just on war powers, but we've seen on tariffs in 164 00:08:24,600 --> 00:08:26,640 Speaker 4: so many other areas. We need to stand up to 165 00:08:26,640 --> 00:08:29,400 Speaker 4: this administration and say Congress is a coequal branch, not 166 00:08:29,440 --> 00:08:30,400 Speaker 4: a subordinate branch. 167 00:08:32,120 --> 00:08:34,800 Speaker 1: Congressman, do you have any inclination or any hints from 168 00:08:34,800 --> 00:08:37,440 Speaker 1: your colleagues across the aisle that this may be a 169 00:08:37,480 --> 00:08:40,359 Speaker 1: step too far. Have you heard any rumblings or whispers. 170 00:08:40,600 --> 00:08:43,320 Speaker 1: I know it's very early that not all members of 171 00:08:43,360 --> 00:08:46,120 Speaker 1: the party may be behind these actions. In the days 172 00:08:46,120 --> 00:08:48,280 Speaker 1: and weeks to come, that you could see some defections 173 00:08:48,320 --> 00:08:49,160 Speaker 1: from across the aisle. 174 00:08:49,880 --> 00:08:52,840 Speaker 4: I would be surprised if there weren't some. I know 175 00:08:53,080 --> 00:08:56,560 Speaker 4: a lot of my Republican friends. They believe in the Constitution. 176 00:08:56,960 --> 00:08:59,000 Speaker 4: They ran for Congress to make a difference in the 177 00:08:59,040 --> 00:09:01,920 Speaker 4: lives of the people they represent, but also to respect 178 00:09:02,000 --> 00:09:04,520 Speaker 4: the idea that we are a collequal branch of the 179 00:09:04,559 --> 00:09:07,240 Speaker 4: federal government. And so I would be surprised if you 180 00:09:07,280 --> 00:09:11,080 Speaker 4: don't hear a broad outcry the administration. If it is 181 00:09:11,120 --> 00:09:14,480 Speaker 4: able to present legal justification, is if it is egal, 182 00:09:15,280 --> 00:09:17,839 Speaker 4: If it is able to present a strategy that lays 183 00:09:17,840 --> 00:09:22,280 Speaker 4: out their vision for transferring power quickly and restoring the 184 00:09:22,320 --> 00:09:26,160 Speaker 4: government of Venezuela to the people of Venezuela, maybe that 185 00:09:26,200 --> 00:09:28,440 Speaker 4: will temperate. But what we heard today in the president's 186 00:09:28,440 --> 00:09:31,000 Speaker 4: press conference, he intends to take the oil for his 187 00:09:31,040 --> 00:09:33,800 Speaker 4: own benefit. He intends to put his own friends in charge, 188 00:09:33,800 --> 00:09:37,080 Speaker 4: and he intends to let the United States run another country, 189 00:09:37,600 --> 00:09:39,520 Speaker 4: something that we haven't done in a very long time. 190 00:09:41,080 --> 00:09:43,240 Speaker 1: Congress and Brodchenier, thank you so much for joining us. 191 00:09:43,320 --> 00:09:44,800 Speaker 1: We appreciate you taking the time. 192 00:09:48,040 --> 00:09:50,679 Speaker 3: As we continue our special coverage from Washington, the President 193 00:09:50,840 --> 00:09:55,120 Speaker 3: is posting more on social media, Truth Social with a 194 00:09:55,160 --> 00:10:01,600 Speaker 3: new video up of the strikes with a soundtrack Fortunate 195 00:10:01,720 --> 00:10:07,120 Speaker 3: Sun by Credence Clearwater Revival. As you watch these strikes 196 00:10:07,160 --> 00:10:09,880 Speaker 3: take place, the explosions on the horizon. It was a 197 00:10:10,000 --> 00:10:13,520 Speaker 3: video taken from what appears to be a balcony in 198 00:10:13,559 --> 00:10:15,920 Speaker 3: an apartment building, remembering, of course that that. 199 00:10:16,000 --> 00:10:20,079 Speaker 2: Was an anti war anthem from Vietnam. 200 00:10:20,800 --> 00:10:24,000 Speaker 3: But it calls into question the optics coming from this administration, 201 00:10:24,080 --> 00:10:28,080 Speaker 3: of course, a self declared America first president, and whether 202 00:10:28,160 --> 00:10:32,240 Speaker 3: this justification that the President has delivered will be accepted 203 00:10:32,240 --> 00:10:35,800 Speaker 3: by the Magabas and others who support President Trump. It's 204 00:10:35,840 --> 00:10:38,240 Speaker 3: part of the conversation we want to have with Justin Logan, 205 00:10:38,240 --> 00:10:41,320 Speaker 3: who's director of Defense and Foreign Policy Studies at the 206 00:10:41,400 --> 00:10:44,800 Speaker 3: Cato Institute. Justin, thanks for being with us here on 207 00:10:44,840 --> 00:10:46,360 Speaker 3: Bloomberg TV and Radio. 208 00:10:46,440 --> 00:10:47,720 Speaker 2: What are your thoughts this morning? 209 00:10:48,200 --> 00:10:50,319 Speaker 3: Just to begin with this afternoon, I should say, at 210 00:10:50,320 --> 00:10:54,160 Speaker 3: this point, now with the strikes behind us, but a 211 00:10:54,240 --> 00:10:57,320 Speaker 3: massive American armadas still off the coast of Venezuela, is 212 00:10:57,360 --> 00:10:59,480 Speaker 3: this over from a military standpoint? 213 00:11:00,559 --> 00:11:01,160 Speaker 5: I don't know. 214 00:11:01,480 --> 00:11:03,240 Speaker 6: Is something you're never supposed to say on TV, but 215 00:11:03,280 --> 00:11:04,280 Speaker 6: it happens to be the truth. 216 00:11:04,360 --> 00:11:06,240 Speaker 2: I love that answer. To me. 217 00:11:06,320 --> 00:11:09,200 Speaker 6: The takeaway here is that the President didn't say we're 218 00:11:09,200 --> 00:11:12,960 Speaker 6: going to be running Venezuela in an offhand response to 219 00:11:13,040 --> 00:11:16,679 Speaker 6: a question. It was clearly in his prepared remarks. So 220 00:11:16,880 --> 00:11:19,560 Speaker 6: that is surprising to me. I mean, I think the 221 00:11:19,559 --> 00:11:23,720 Speaker 6: President knows that the American people are not ready for 222 00:11:23,840 --> 00:11:26,760 Speaker 6: a large nation building campaign inside Venezuela. 223 00:11:27,040 --> 00:11:29,760 Speaker 5: But to use the words that he used, We're. 224 00:11:29,559 --> 00:11:32,160 Speaker 6: Going to quote run the country as long as we 225 00:11:32,320 --> 00:11:37,600 Speaker 6: can until a safe, proper and judicious transition can take place. 226 00:11:37,960 --> 00:11:40,520 Speaker 6: And then he talked about that would establish peace, liberty, 227 00:11:40,559 --> 00:11:44,240 Speaker 6: and justice for the Venezuelan people. That's a very heavy 228 00:11:44,320 --> 00:11:47,320 Speaker 6: lift for the United States. And then at the end 229 00:11:47,320 --> 00:11:50,800 Speaker 6: of of the conversation at the press conference, rather he 230 00:11:50,880 --> 00:11:54,680 Speaker 6: remarked that the prime candidate for taking over the country 231 00:11:54,840 --> 00:11:59,240 Speaker 6: with a vision of peace, liberty, and justice, Maria Cornamachillo, 232 00:11:59,840 --> 00:12:01,720 Speaker 6: was not in the cards he sort of said that 233 00:12:01,760 --> 00:12:05,640 Speaker 6: she doesn't have the confidence of the Venezuelan. 234 00:12:05,240 --> 00:12:06,920 Speaker 5: People and that it would be very tough for her. 235 00:12:06,960 --> 00:12:10,040 Speaker 6: So we're missing huge pieces of the story if in fact, 236 00:12:10,040 --> 00:12:12,199 Speaker 6: the Americans are going to be running Venezuela. 237 00:12:13,640 --> 00:12:17,400 Speaker 1: And that was really startling, especially given how much effort 238 00:12:17,480 --> 00:12:20,360 Speaker 1: she's put into curating that relationship with President Trump, making 239 00:12:20,400 --> 00:12:22,960 Speaker 1: sure you say supportive things of him in almost every 240 00:12:22,960 --> 00:12:26,000 Speaker 1: interview she's had, being supportive of his strikes on these 241 00:12:26,360 --> 00:12:28,960 Speaker 1: drug boats or fishing boats or whatever they tend to be. 242 00:12:29,920 --> 00:12:32,680 Speaker 1: I also want to ask you, justin your latest op 243 00:12:32,840 --> 00:12:36,000 Speaker 1: ed was entitled mister President, don't do it. Obviously he 244 00:12:36,080 --> 00:12:39,160 Speaker 1: missed that memo, but I've got an excerpt from it here, 245 00:12:39,360 --> 00:12:42,480 Speaker 1: you say the administration's public case for its Venezuela policy 246 00:12:42,800 --> 00:12:46,320 Speaker 1: is insultingly ridiculous. At an October fifteenth press conference, the 247 00:12:46,320 --> 00:12:48,680 Speaker 1: President declared that every boat we knock out, we saved 248 00:12:48,720 --> 00:12:51,920 Speaker 1: twenty five thousand American lives. Considering that they were only 249 00:12:51,960 --> 00:12:55,160 Speaker 1: around eighty four thousand overdoses in the United States last year, 250 00:12:55,480 --> 00:12:57,520 Speaker 1: and that they have so far blown up ten boats, 251 00:12:57,640 --> 00:13:00,760 Speaker 1: they should have declared victory and come home and votes ago. 252 00:13:02,080 --> 00:13:04,520 Speaker 6: Yeah, I mean trying to pin down the case for this. 253 00:13:04,559 --> 00:13:06,439 Speaker 6: And I'm old enough to have been around during the 254 00:13:06,600 --> 00:13:09,280 Speaker 6: Iraq war run up, right, there was a sort of 255 00:13:09,320 --> 00:13:12,360 Speaker 6: more linear story told then than there has been told now. 256 00:13:12,720 --> 00:13:16,000 Speaker 6: The President started this campaign against Venezuela by talking about 257 00:13:16,080 --> 00:13:19,599 Speaker 6: fentanyl coming out of Venezuela. Someone apparently let him know 258 00:13:19,640 --> 00:13:22,680 Speaker 6: that fentanyl doesn't come out of Venezuela. And now you 259 00:13:22,760 --> 00:13:25,720 Speaker 6: heard in the press conference today he was referencing three 260 00:13:25,800 --> 00:13:29,840 Speaker 6: hundred thousand overdoses, when in fact, there are now less 261 00:13:29,840 --> 00:13:33,160 Speaker 6: than eighty thousand overdoses total in the United States each year, 262 00:13:33,440 --> 00:13:35,840 Speaker 6: most of which are due to fentanyl. There is some 263 00:13:35,880 --> 00:13:40,040 Speaker 6: cocaine that comes to the United States via Venezuela, but 264 00:13:40,080 --> 00:13:43,880 Speaker 6: that accounts for a relatively small number of those overdose deaths. 265 00:13:43,920 --> 00:13:47,160 Speaker 6: So at times this is about the sort of indictment 266 00:13:47,360 --> 00:13:50,560 Speaker 6: of Nicolas Maduro and his wife in the United States. 267 00:13:50,679 --> 00:13:54,760 Speaker 6: And you heard this weird fusion of the Defense Department 268 00:13:54,880 --> 00:13:59,800 Speaker 6: allegedly responding to a Department of Justice request to suppress 269 00:14:00,080 --> 00:14:04,400 Speaker 6: Venezuelan air defenses and to embed law enforcement officers in 270 00:14:04,679 --> 00:14:07,520 Speaker 6: sort of delta force raids. So there's this weird blurring 271 00:14:07,600 --> 00:14:11,880 Speaker 6: together both of rationales that this is about law enforcement somehow, 272 00:14:11,920 --> 00:14:16,520 Speaker 6: but it's also about, as Pete Hegseth said, the safety, security, freedom, 273 00:14:16,559 --> 00:14:18,560 Speaker 6: and prosperity of the American people. 274 00:14:19,160 --> 00:14:20,600 Speaker 5: The American people have not been. 275 00:14:20,480 --> 00:14:23,760 Speaker 6: Crying out for regime change in Venezuela outside of maybe 276 00:14:23,800 --> 00:14:26,920 Speaker 6: pockets in South Florida, if you will. So this trying 277 00:14:26,920 --> 00:14:30,120 Speaker 6: to pin down exactly what the ends, ways, and means 278 00:14:30,120 --> 00:14:32,920 Speaker 6: of this campaign are has been, you know, even for 279 00:14:32,960 --> 00:14:35,400 Speaker 6: somebody who's been in this business for a while, a 280 00:14:35,440 --> 00:14:36,200 Speaker 6: pretty heavy lift. 281 00:14:37,280 --> 00:14:39,680 Speaker 3: Last question for you, justin we've only got about a minute. 282 00:14:39,680 --> 00:14:41,560 Speaker 3: I want to get back to where we began, and 283 00:14:41,600 --> 00:14:46,920 Speaker 3: that's the justification for this military action. The President said, quote, 284 00:14:46,960 --> 00:14:51,240 Speaker 3: we built Venezuela's oil industry with American talent, drive, and skill, 285 00:14:51,640 --> 00:14:55,360 Speaker 3: and the socialist regime stole it from us. Well, the 286 00:14:55,400 --> 00:14:57,600 Speaker 3: American electorate appreciate that point. 287 00:14:58,600 --> 00:15:01,400 Speaker 5: Yeah, I mean it's a pretty icy thing to say. 288 00:15:01,600 --> 00:15:03,800 Speaker 6: You know, we went into this country with our military 289 00:15:03,920 --> 00:15:07,080 Speaker 6: and deposed its leader to protect and you heard Marco 290 00:15:07,160 --> 00:15:11,360 Speaker 6: Rubio talking about not you know, American assets, but the 291 00:15:11,400 --> 00:15:13,359 Speaker 6: assets of American oil companies. 292 00:15:13,480 --> 00:15:15,320 Speaker 5: Right, are you going to go out and campaign for 293 00:15:15,400 --> 00:15:16,640 Speaker 5: office in twenty twenty eight. 294 00:15:16,680 --> 00:15:20,120 Speaker 6: If you're running for the presidency by saying we, you know, 295 00:15:21,080 --> 00:15:25,360 Speaker 6: went in Venezuela and to protect oil company's revenue streams, right, 296 00:15:25,400 --> 00:15:29,000 Speaker 6: that just strikes me as a weird political pitch in 297 00:15:29,040 --> 00:15:31,840 Speaker 6: an era where Americans are asking for more help at home, 298 00:15:31,920 --> 00:15:34,080 Speaker 6: for more focus at home, and I think there's a 299 00:15:34,120 --> 00:15:37,400 Speaker 6: real exhaustion with the overall amount of foreign policy activity 300 00:15:37,440 --> 00:15:40,960 Speaker 6: this administration has had thus far as compared with domestic policy. 301 00:15:42,120 --> 00:15:45,200 Speaker 3: With his view from the Cato Institute, justin Logan, we 302 00:15:45,280 --> 00:15:47,840 Speaker 3: thank you very much for your insights. Before we get 303 00:15:47,880 --> 00:15:49,960 Speaker 3: some final thoughts from our political panel, we want to 304 00:15:50,000 --> 00:15:51,960 Speaker 3: get the latest right now from our newsroom. In a 305 00:15:52,000 --> 00:15:54,760 Speaker 3: day that has brought many developments to this story, let's 306 00:15:54,760 --> 00:15:55,880 Speaker 3: turn out to Nathan Hager. 307 00:15:55,960 --> 00:15:58,000 Speaker 2: Nathan, what do you have? Well, you said it, Joe, 308 00:15:58,000 --> 00:15:58,280 Speaker 2: Thank you. 309 00:15:58,360 --> 00:16:01,239 Speaker 7: President Trump says the US as a same actually running Venezuela. 310 00:16:01,360 --> 00:16:01,520 Speaker 2: Now. 311 00:16:01,560 --> 00:16:04,560 Speaker 7: After an overnight round of airstrikes at a special forces 312 00:16:04,600 --> 00:16:08,600 Speaker 7: operation that ended with the capture of Venezuelan President Nicholas 313 00:16:08,640 --> 00:16:11,280 Speaker 7: Madua and First Lady Cilia Flores, they are now on 314 00:16:11,320 --> 00:16:13,840 Speaker 7: their way to New York, where they will face charges 315 00:16:13,880 --> 00:16:18,240 Speaker 7: of narco terrorism, conspiracy, and drug trafficking. Here is what 316 00:16:18,280 --> 00:16:21,160 Speaker 7: President Trump had to say at a mar Lago news conference. 317 00:16:21,600 --> 00:16:25,160 Speaker 4: We're going to run the country until such time as 318 00:16:25,200 --> 00:16:27,280 Speaker 4: we can do a safe, proper. 319 00:16:27,000 --> 00:16:29,280 Speaker 2: And judicious transition. 320 00:16:29,520 --> 00:16:34,200 Speaker 4: So we don't want to be involved with having somebody 321 00:16:34,200 --> 00:16:34,800 Speaker 4: else get in. 322 00:16:34,840 --> 00:16:37,520 Speaker 2: And we have the same situation that we had for 323 00:16:37,560 --> 00:16:41,040 Speaker 2: the last long period of years. So we are going 324 00:16:41,080 --> 00:16:42,080 Speaker 2: to run the country. 325 00:16:42,600 --> 00:16:44,920 Speaker 7: And the President says the US stands ready to carry 326 00:16:44,960 --> 00:16:47,600 Speaker 7: out a second strike. It's not afraid to deploy troops 327 00:16:47,640 --> 00:16:52,040 Speaker 7: in Venezuela if needed. Venezuelan opposition leader Maria Karina Machado 328 00:16:52,120 --> 00:16:55,080 Speaker 7: posted on x that the oppositions ready to quote honor 329 00:16:55,120 --> 00:16:58,400 Speaker 7: their mandate and assume power, but President Trump says Machado 330 00:16:58,480 --> 00:17:01,960 Speaker 7: does not have the respect or sot to lead the country. 331 00:17:02,160 --> 00:17:05,080 Speaker 2: I'm Nathan Hager in Washington. Joe and Christina back to you. 332 00:17:06,080 --> 00:17:08,240 Speaker 3: All right, Nathan, thank you so much for all of 333 00:17:08,280 --> 00:17:10,919 Speaker 3: your contributions. Today, we're live in Washington on a special 334 00:17:11,040 --> 00:17:14,119 Speaker 3: edition of Balance of Power here on Bloomberg TV and Radio. 335 00:17:14,160 --> 00:17:17,760 Speaker 3: As we reassemble our political panel, Bloomberg Politics contributor Genie 336 00:17:17,760 --> 00:17:21,680 Speaker 3: Shanzino is with us, our democratic analyst and Democracy visiting 337 00:17:21,720 --> 00:17:25,200 Speaker 3: fellow at Harvard Kennedy School's Ash Center, alongside Republican strategist 338 00:17:25,280 --> 00:17:29,000 Speaker 3: Lester Munson from the International Practice at BGR Group. 339 00:17:29,080 --> 00:17:30,399 Speaker 2: All right, let's hear from both of you. 340 00:17:30,520 --> 00:17:33,040 Speaker 3: Now that the President has spoken, GENNI, did he make 341 00:17:33,080 --> 00:17:35,200 Speaker 3: the case for this military action? 342 00:17:37,280 --> 00:17:40,800 Speaker 8: I think he opened a lot more questions than he answered. 343 00:17:41,240 --> 00:17:44,199 Speaker 8: The idea that Marco Rubio, who already has something to 344 00:17:44,280 --> 00:17:46,760 Speaker 8: three to four jobs by any count is going to 345 00:17:46,760 --> 00:17:48,840 Speaker 8: be joining this team and running Venezuela. 346 00:17:48,880 --> 00:17:49,800 Speaker 2: I don't think many. 347 00:17:49,680 --> 00:17:52,480 Speaker 8: Of us expected it, and how that is going to happen, 348 00:17:52,560 --> 00:17:54,440 Speaker 8: for what length, who is going to do it. He's 349 00:17:54,440 --> 00:17:56,720 Speaker 8: opened to boots on the ground. All of this is 350 00:17:56,840 --> 00:17:59,880 Speaker 8: just an astonishing development. So I think a lot more 351 00:18:00,119 --> 00:18:03,440 Speaker 8: questions here as in regards to what the President said 352 00:18:03,440 --> 00:18:04,080 Speaker 8: than answers. 353 00:18:05,840 --> 00:18:08,440 Speaker 1: Lester, I have a slightly less sophisticated question for you. 354 00:18:09,800 --> 00:18:12,440 Speaker 1: In a press conference that had a lot of staggering, 355 00:18:12,480 --> 00:18:15,520 Speaker 1: memorable moments, one that stood out to me was actually 356 00:18:15,560 --> 00:18:18,560 Speaker 1: Marco Rubio because while even President Trump, of course, he 357 00:18:18,640 --> 00:18:22,320 Speaker 1: strayed from his prepared remarks, the Admiral Haig Seth, we're 358 00:18:22,320 --> 00:18:26,520 Speaker 1: all reading from prepared remarks. We saw Rubio do something 359 00:18:26,560 --> 00:18:28,959 Speaker 1: we don't usually see from him. Where he got up 360 00:18:29,000 --> 00:18:31,399 Speaker 1: and very casually said, I don't have much else to add, 361 00:18:31,760 --> 00:18:33,760 Speaker 1: but he said, you know, Maduo wanted to play the 362 00:18:33,800 --> 00:18:37,280 Speaker 1: big guy, and he spoke off the cuff. He spoke 363 00:18:37,640 --> 00:18:40,720 Speaker 1: in a very regular manner, and he spoke a little 364 00:18:40,720 --> 00:18:43,760 Speaker 1: bit more like we usually hear Donald Trump do. And 365 00:18:43,840 --> 00:18:48,200 Speaker 1: I'm wondering, given all the talk about you know, advance Rubio, 366 00:18:48,320 --> 00:18:51,840 Speaker 1: Rubio dvance ticket, if he is jostling a little bit 367 00:18:51,880 --> 00:18:54,040 Speaker 1: to be air apparent and if that's what was going 368 00:18:54,080 --> 00:18:54,720 Speaker 1: on here. 369 00:18:55,240 --> 00:18:57,640 Speaker 9: Yeah, boy, you could you could read a lot into that. 370 00:18:57,960 --> 00:19:01,160 Speaker 9: I think it's a great question. I think the Secretary 371 00:19:01,160 --> 00:19:03,560 Speaker 9: of State did a good job. He looked very comfortable. 372 00:19:03,960 --> 00:19:07,160 Speaker 9: He was being very politically smart. He wasn't really. 373 00:19:06,880 --> 00:19:09,000 Speaker 5: Taking ownership of this issue. 374 00:19:09,119 --> 00:19:11,960 Speaker 9: He was letting the president President Trump go out there 375 00:19:12,000 --> 00:19:14,960 Speaker 9: and make the case to kind of the magabase. Hey, 376 00:19:15,000 --> 00:19:19,119 Speaker 9: this matters to you. Trump talked about the young victim 377 00:19:19,119 --> 00:19:23,239 Speaker 9: of trend Arragua in Texas and said this is you know, 378 00:19:23,280 --> 00:19:27,119 Speaker 9: this matters for our people, and Rubio was happy to 379 00:19:27,160 --> 00:19:29,359 Speaker 9: kind of step aside and let him do that. I 380 00:19:29,359 --> 00:19:31,960 Speaker 9: think we all sense that Rubio has been playing a 381 00:19:32,040 --> 00:19:35,480 Speaker 9: huge role in this policy making leading up to this 382 00:19:35,680 --> 00:19:37,320 Speaker 9: in this moment and is clearly going to play a 383 00:19:37,320 --> 00:19:41,000 Speaker 9: big role in the future. So very interesting positioning by him. 384 00:19:41,040 --> 00:19:42,720 Speaker 9: But I think he did a very good job. 385 00:19:43,680 --> 00:19:45,720 Speaker 3: Well, just to extend that a little bit, Genie, this 386 00:19:45,840 --> 00:19:48,159 Speaker 3: did seem to be a family operation here. If you 387 00:19:48,160 --> 00:19:51,480 Speaker 3: could see the cutaway shot in the room, the whole 388 00:19:51,520 --> 00:19:55,119 Speaker 3: team was with the president, either behind the podium or 389 00:19:55,160 --> 00:19:58,919 Speaker 3: off to the side. Hag Seth Cain, Rubio, but also 390 00:19:59,280 --> 00:20:03,000 Speaker 3: Steven Miller was there, Ratcliffe's CIA. Did you notice cash 391 00:20:03,000 --> 00:20:05,440 Speaker 3: but Tell of the FBI was off to the side 392 00:20:05,720 --> 00:20:08,639 Speaker 3: next to Steve Whitkoff. Where they all should we assume? 393 00:20:08,680 --> 00:20:11,200 Speaker 3: Were they all involved in this process? And will they 394 00:20:11,280 --> 00:20:13,919 Speaker 3: all somehow together run Venezuela? 395 00:20:15,520 --> 00:20:17,560 Speaker 8: That's what we were told. I mean, it was quite 396 00:20:17,600 --> 00:20:20,920 Speaker 8: a stunning display. I thought it was smart that jd. Vance, 397 00:20:20,960 --> 00:20:23,040 Speaker 8: at least as far as I could see from my perch, 398 00:20:23,240 --> 00:20:26,480 Speaker 8: was not there because politically, if this thing goes a foul, 399 00:20:26,560 --> 00:20:28,800 Speaker 8: it would hurt him and running for twenty eight So 400 00:20:29,240 --> 00:20:32,640 Speaker 8: that was interesting. But I do think there is absolutely 401 00:20:32,680 --> 00:20:35,760 Speaker 8: no distance between Donald Trump and the people in his cabinet, 402 00:20:35,800 --> 00:20:38,919 Speaker 8: and that's by design. And one really interesting thing I 403 00:20:38,960 --> 00:20:41,800 Speaker 8: saw I thought Rubio had to say was the fact 404 00:20:41,800 --> 00:20:45,639 Speaker 8: that there are instances in which the administration does not 405 00:20:45,800 --> 00:20:49,879 Speaker 8: need to inform Congress about a military activity if it 406 00:20:49,960 --> 00:20:52,960 Speaker 8: is a law enforcement activity. This is news, I think 407 00:20:53,000 --> 00:20:55,360 Speaker 8: to many of us in the legal community. Will be 408 00:20:55,400 --> 00:20:58,199 Speaker 8: interesting to see what Congress and the courts have to 409 00:20:58,240 --> 00:20:58,920 Speaker 8: say about that. 410 00:21:01,119 --> 00:21:04,200 Speaker 1: And Lester, we talked earlier about how this is allegedly 411 00:21:04,320 --> 00:21:07,919 Speaker 1: nominally the non interventionist wing of the Republican Party, and 412 00:21:07,960 --> 00:21:10,560 Speaker 1: we were wondering how this was going to get sold 413 00:21:10,640 --> 00:21:14,640 Speaker 1: to Trump's supporters. The President was asked that question directly, 414 00:21:14,720 --> 00:21:16,879 Speaker 1: how is this America first? And he said it's in 415 00:21:16,960 --> 00:21:20,200 Speaker 1: America's interest to have good neighbors. And the oil, he 416 00:21:20,240 --> 00:21:23,840 Speaker 1: said energy, Having energy is in America's best interest. What 417 00:21:23,880 --> 00:21:25,480 Speaker 1: are your takes on that? And do you think Trump 418 00:21:25,520 --> 00:21:26,399 Speaker 1: voters are going to buy that? 419 00:21:27,800 --> 00:21:32,199 Speaker 9: Yeah, this is classic kind of Jacksonian approach which to 420 00:21:32,280 --> 00:21:35,880 Speaker 9: foreign policy, which is is the US getting something out 421 00:21:35,880 --> 00:21:38,600 Speaker 9: of this? And I think President Trump believes if he 422 00:21:38,640 --> 00:21:40,520 Speaker 9: goes out and makes the case we're getting the oil, 423 00:21:40,600 --> 00:21:42,840 Speaker 9: We're going to manage the oil. This belonged to us, 424 00:21:42,880 --> 00:21:46,680 Speaker 9: We're taking it back that's going to resonate with that magabase, 425 00:21:46,720 --> 00:21:49,879 Speaker 9: and there's a lot of evidence that that may be true. 426 00:21:50,000 --> 00:21:53,840 Speaker 9: And I think he's he's clearly was using this hour 427 00:21:53,960 --> 00:21:57,400 Speaker 9: or so to shape that argument with his base. There's 428 00:21:57,400 --> 00:21:59,520 Speaker 9: been some criticism of this, you know, you think of 429 00:21:59,560 --> 00:22:02,840 Speaker 9: someone like Tucker Carlson, who's been openly critical of some 430 00:22:02,920 --> 00:22:06,080 Speaker 9: of the decisions the administration has made. This is a 431 00:22:06,119 --> 00:22:08,879 Speaker 9: real attempt by the President to go straight at that argument. 432 00:22:09,320 --> 00:22:11,960 Speaker 9: I think it's I think it's going to be relatively effective. 433 00:22:12,000 --> 00:22:14,639 Speaker 9: At the end of the day, the person the Magabase 434 00:22:14,680 --> 00:22:17,439 Speaker 9: trusts the most is Donald Trump. He knows that, and 435 00:22:17,520 --> 00:22:20,080 Speaker 9: as long as he never turns his back on them, 436 00:22:20,280 --> 00:22:22,879 Speaker 9: they're going to be with him. 437 00:22:23,080 --> 00:22:27,080 Speaker 3: Fascinating conversation with the help of Lester Munson and Jeanie Shanzano. 438 00:22:27,520 --> 00:22:28,600 Speaker 2: Many thanks to both of you. 439 00:22:28,640 --> 00:22:30,199 Speaker 3: We're going to need your help next week as we 440 00:22:30,280 --> 00:22:33,000 Speaker 3: unpack all of what we have learned here today.