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Speaker 1: Okay, okay, go.

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Speaker 2: See this headlineright here, Trump causes constitutional crisis. Trump causes

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Speaker 2: constitution crisis, showdown, emergence of the limits of its power.

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Speaker 1: Let me be blunt, and this is a lesson here.

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Speaker 2: The existential threat to President Trump's administration is not in

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Speaker 2: federal court. What President Trump is doing is constitutional.

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Speaker 1: The appellate courts will say that.

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Speaker 2: The Supreme Court will say that the existential threat to

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Speaker 2: President Trump's administration. And I mean doje Elon Moss, Secretary Treasury,

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Speaker 2: Bessant Russ, Vote, Stephen Miller, all of his people. The

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Speaker 2: existential threat is right here in this city. It is

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Speaker 2: the Queen of lawfair. It's Letitia James right now. Sores

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Speaker 2: has a DA that's running unopposed. He can call it

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Speaker 2: Grand juriate any time. He can set up criminal charges

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Speaker 2: on the most bogus efforts. Letitia James runs this deal.

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Speaker 2: She's got appliant media right here, playing left wing media.

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Speaker 2: She's got a jury pool of only left wing radicals

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Speaker 2: in the upper west side of this city, and she's

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Speaker 2: got the judges.

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Speaker 1: She's got all of it. And I'm call hang on,

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Speaker 1: I'm calling I'm calling on right now.

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Speaker 2: The Attorney General Pam Bonnie to begin an immediate criminal

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Speaker 2: investigation to Letitia James, Alvin Bragg, all of it for

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Speaker 2: what they did to President Trump. President Trump, on his

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Speaker 2: true social day, laid it out once again, the existential

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Speaker 2: threat to his administration is his queen of lawfair Letitia James,

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Speaker 2: and how she and how she and how she has

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Speaker 2: and how she.

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Speaker 1: Has absolutely total control.

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Speaker 2: And Doge and Elon Musk and Scott Bessen and all

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Speaker 2: of them ought to be worried about this out of

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Speaker 2: control city.

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Speaker 1: Thank you very much.

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Speaker 3: Are you only bragging.

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Speaker 4: New or being mnic.

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Speaker 3: Check?

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Speaker 1: This is the primal scream of a dying regime. Pray

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Speaker 1: for our enemies, because we're going to medieval on these people.

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Speaker 1: There's not got a free shot. All these networks lying

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Speaker 1: about the people, the people have had a belly full

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Speaker 1: of it. I know you don't like hearing that. I

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Speaker 1: know you try to do everything in the world to

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Speaker 1: stop that, but you're not going to stop it. It's

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Speaker 1: going to happen. And where do people like that go

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Speaker 1: to share the big line? Mega media? I wish in

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Speaker 1: my soul, I wish that any of these people had

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Speaker 1: a conscience. Ask yourself what is my task and what

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Speaker 1: is my purpose? If that answer is to save my country,

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Speaker 1: this country will be saved. War Room, here's your host,

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Speaker 1: Stephen came back. It's Tuesday, eleven February, in the Year

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Speaker 1: of Our Lord, twenty twenty five. We've got a lot

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Speaker 1: to go, and particularly President Trump, We're going to go,

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Speaker 1: which just happened moments ago in the Oval Office with

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Speaker 1: President Trump signing guess what more executive orders on days

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Speaker 1: of thunders and taking questions from the press kind of

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Speaker 1: his daily firesid Chad press briefing in there. I think

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Speaker 1: there's an executive order about judges, and I know that

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Speaker 1: there's spent a lot of focus on Okay, New York

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Speaker 1: Times today, a showdown emerges. This is why I was

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Speaker 1: holding up in front of the courthouse day. A showdown

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Speaker 1: emerges over the limits of presidential power. See that that's

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Speaker 1: the lead right there, and then below it kind of

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Speaker 1: the analytical piece was Trump causes constitutional crisis. Scholars say,

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Speaker 1: a flurry of radical acts that may thwart court's response. Okay,

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Speaker 1: and they're making this case that everything President Trump's doing,

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Speaker 1: everything Dose is doing, Elon Musk is doing. Russ vote

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Speaker 1: over at omb Stephen Miller as head of the he's

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Speaker 1: Deputy chief of Staff for policy. All these guys taking

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Speaker 1: different cracks of the administrative state, different cracks at trying

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Speaker 1: to figure out what the Deep States been up to

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Speaker 1: and trying to crush it. Also trying to look at

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Speaker 1: where you can cut costs dramatically and quickly so that

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Speaker 1: we can afford this government.

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Speaker 5: They are.

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Speaker 1: Being stopped right now or slowed down, I should say,

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Speaker 1: in federal court. They're going to federal court from Rhode

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Speaker 1: Island to Washington, d C. To New York City federal

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Speaker 1: court to stop the Consumer Protection Board from being shut

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Speaker 1: down and defunded, from USAID being shut down and defunded,

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Speaker 1: that people sent home from everything, from government workers having

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Speaker 1: the buyouts even that they're saying that's legal, to government

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Speaker 1: workers being told to come back to work or you're fired,

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Speaker 1: and different, on and on and on different restructurings. And

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Speaker 1: they've got union suing, they have individuals suing, they have

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Speaker 1: people suing over their data. So they're everywhere in federal court.

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Speaker 1: What I told NBC is that hey, President Trump could

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Speaker 1: could fight these could not turn over, cannot slow it down.

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Speaker 1: One was about stopping he stopped payments in a certain area,

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Speaker 1: and they said he had to continue the payment. So

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Speaker 1: the executives in charge of the area have a choice

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Speaker 1: to the restart, defy the courts. If you defy the courts,

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Speaker 1: which I'm inclined to do and fight this, you know,

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Speaker 1: you could be held in contempt. The executive could go

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Speaker 1: to jail. But my recommendation for President Trump, I know

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Speaker 1: he's a fighter and he doesn't want to comply with

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Speaker 1: a lot what the courts are saying, particularly since you've

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Speaker 1: heard JD and you've heard other people talk about it.

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Speaker 1: They think it's an intrusion upon executive power. To wit,

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Speaker 1: if the Appropriations Committee and they passed something it's got

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Speaker 1: a budget, let's say the Green new Scam, and it's

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Speaker 1: got five hundred billion dollars and President Trump steps in

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Speaker 1: to office and there's three hundred billon unspent. He believes

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Speaker 1: he has the authority from the Constitution as a chief

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Speaker 1: executive to reprogram that, and that's called you know, he's

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Speaker 1: got this whole thing about the Impoundment Act. You think

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Speaker 1: you impound it and reprogram it, and that is a

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Speaker 1: big constitutional question will have to be resolved. But there's

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Speaker 1: many many others. Now I said, you neither fight this

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Speaker 1: and be held in contempt and fight the courts at

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Speaker 1: the lower level, or you could comply slow down a bit,

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Speaker 1: but expedite to get to an appellate court and have

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Speaker 1: a hearing, and if that doesn't work, get on the

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Speaker 1: emergency docket of the Supreme Court and they bio launcher

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Speaker 1: or have to take some of these things. So that's it.

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Speaker 1: On the federal side that I don't think it should

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Speaker 1: be the fear at number one, you have literally broken

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Speaker 1: the Democratic Party. They don't really have a political response

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Speaker 1: right now. You can see this if you watch MSNBC,

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Speaker 1: if you read the New York Times, it's they're bitching

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Speaker 1: at their leaders. They're not stepping up to Trump enough.

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Speaker 1: They got some of these old hacks outside of government

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Speaker 1: buildings having protests, but it feels very performative. The crowds

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Speaker 1: aren't very big, they're cold, they're sullen, and they're beaten.

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Speaker 1: So on the political side, not much. The media is

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Speaker 1: completely shattered, a little bit turning on themselves. They're searching CNNs,

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Speaker 1: they're all trying to figure it out. Okay, So the

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Speaker 1: Democratic Party and really the media, which is essentially, really

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Speaker 1: the opposition party to President Trump is on his back foot.

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Speaker 1: And the federal courts, I just don't think. I think

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Speaker 1: the federal courts are given tros and some you know,

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Speaker 1: temporary restraining orders or stand downs stays for short periods

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Speaker 1: of time. But I don't see the federal courts although

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Speaker 1: there's a lot and they're all running a federal court

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Speaker 1: because that's what they do. And they used to run

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Speaker 1: the deal at a DOJ with the judges in the

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Speaker 1: Southern District and the Eastern District of New York. Remember,

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Speaker 1: all this was their terrain. They had all the ability

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Speaker 1: of lawfare that I think works itself out. And I

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Speaker 1: think President Trump continues to press the continues to put

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Speaker 1: the foot on the pedal where I see as the

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Speaker 1: chink in the armor, and I think it has to

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Speaker 1: be addressed immediately. And this is what I say. Side

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Speaker 1: the courthouse in New York City, and New York City

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Speaker 1: is not just it's not pure Illinois. It's not you know,

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Speaker 1: it's not someplace in Missouri. It is the financial capital

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Speaker 1: of the world. And if you look at the ship

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Speaker 1: of state, kind of the way our country is organized,

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Speaker 1: the bridge, let's say, is Washington.

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Speaker 3: D C.

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Speaker 1: But the engine room is in New York. It's where

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Speaker 1: all the capital markets are, is where the Treasury Department's

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Speaker 1: trading desk is, where the Federal Reserve's trading descers. I

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Speaker 1: think the Federal Reserve and the Treasury of the two

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Speaker 1: biggest trading desk of government securities and bonds in the world.

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Speaker 1: You have every piece of commercial data goes through there

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Speaker 1: are all types of trade data goes through there. New

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Speaker 1: York's a hub for information. That's why it's the financial

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Speaker 1: capital the world. Financial capitals deal on information, whether it's

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Speaker 1: sixteenth century City of London, our twenty first century Manhattan,

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Speaker 1: and in manhe This is not New York City of

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Speaker 1: the Boroughs. It's not Staten Island. It's not Brooklyn, it's

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Speaker 1: not Queens, it's not the Bronx. You don't have this

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Speaker 1: kind of particularly immigrant, hardworking people of color that are

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Speaker 1: starting to shift towards President Trump to start become more

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Speaker 1: Maga or Staten Island, which has always been a backbone

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Speaker 1: of the Republican Party. Up there, you have Manhattan. Manhattan

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Speaker 1: is it's probably the most radicalized part of any city

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Speaker 1: in the country. And inside that city you have too,

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Speaker 1: actually radicalized places like the Upper west Side, and then

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Speaker 1: you got kind of downtown. You have Leticia James. You

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Speaker 1: have an attorney general that has totally complete control of

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Speaker 1: all of it, and she has a prosecutor in a DA,

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Speaker 1: in a source back DA, and she sores backed in

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Speaker 1: Manhattan that has full ability to impanel a grand jury,

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Speaker 1: a criminal grand jury, on moments notice, and throw up

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Speaker 1: the most bizarre information for criminal charges. Look at President Trump.

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Speaker 1: Remember President Trump is found guilty of thirty two fellon

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Speaker 1: in New York. That word took completely and totally bogus.

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Speaker 1: Ask any law professor, you know, any reasonable lawyer know

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Speaker 1: completely bogus. They took these mistermeanors and flipped them into felonies.

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Speaker 1: And I think the jury was out three hours and

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Speaker 1: they went through remember days of picking the jury, Remember

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Speaker 1: all the picking the jury. Well, I think this guy,

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Speaker 1: this guy's give me the wink. Remember that one guy. Yeah,

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Speaker 1: he's looked over here, he's unanimous. You have a handpicked

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Speaker 1: from the Upper west Side. The existential threat, the clear

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Speaker 1: and present danger, the clear and present danger to President

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Speaker 1: Trump right now, to me, is only one thing, and

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Speaker 1: that is the system that these radicals and the most

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Speaker 1: radical people underneath the New York legislation, the most radical

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Speaker 1: people tiss James Alvin Bragg sores backed with radical prosecutors

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Speaker 1: in the city. You can call a grand jury of

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Speaker 1: radicals with nothing to do with sentinel grand jury radicals

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Speaker 1: to indict people, and right now they can make up

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Speaker 1: anything about the information about what you're doing well shutting

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Speaker 1: some of these things down. It doesn't have to be accurate.

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Speaker 1: In fact, they could go for years on the indictment.

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Speaker 1: They get indict you'd go for years and years and

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Speaker 1: years and they have nothing. But they just drag it out.

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Speaker 1: They don't have the politics. They're not winning. President Trump's

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Speaker 1: polling is unbelievable. They don't. The media is shattered right,

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Speaker 1: CNN's numbers in the tank, MSNBC's babbling every night. New

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Speaker 1: York Times readership that people don't look just look at

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Speaker 1: the media, look at the pundits. They have no earthly

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Speaker 1: idea what they're doing wandering around. So no politics, no

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Speaker 1: narrative building, no information warfare. The federal courts are a problem,

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Speaker 1: don't get me wrong, but we're on the high ground there.

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Speaker 1: President Trump's theory of the unified executive I think plays out.

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Speaker 1: I would be very careful. I wouldn't. I wouldn't. I

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Speaker 1: think if you start being held in contempt as an

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Speaker 1: executive assistant with President Trump says no, I'm not going

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Speaker 1: to give you. You say stop, you know, uncut off

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Speaker 1: the funding, I'm not going to do it. I think

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Speaker 1: you lose some of the moderates like Roberts and amy

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Speaker 1: Cony Barrett when you need them. So I think you

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Speaker 1: have to worry about the politics of the court. But

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Speaker 1: I think on the at least as I understand it,

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Speaker 1: I'm certainly not a lawyer. That's explained to me over

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Speaker 1: and over again. I think in the federal court SYSM

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Speaker 1: it slows you down, but it doesn't stop it. It

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Speaker 1: slows you down but it doesn't stop it, and it

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Speaker 1: entangles you, but you work through it. The only thing

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Speaker 1: they have is they've set up a perfect system. Sourus

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Speaker 1: set it up. It's his money. They thought it through.

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Speaker 1: These are not great lawyers, but this is an existential threat,

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Speaker 1: and to me it has to be addressed. Ha's addressed.

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Speaker 1: I think, Pam Bonnie, I think the only thing you

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Speaker 1: do is put the fear of God in them. You know, President,

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Speaker 1: this should have happened after President Trump the sham trolley

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Speaker 1: had the first time. I think Pam Bonnie, which should

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Speaker 1: be a high, high, high priority, and she put the

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Speaker 1: Southern district Southern discs of rats. Now she got Clayton

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Speaker 1: up there. Jake Clayton is at new but I don't

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Speaker 1: think he's been confirmed. He I remember all the US

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Speaker 1: attorneys have to be confirmed. This thing takes forever. We

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Speaker 1: have other confirmation we're going to talk about this week. Tulci, Gabbert,

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Speaker 1: Bobby Kennedy, cashtel. It looks like for Bobby and Tulsi

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Speaker 1: it's coming our way. And Tulsi was supposed to be

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Speaker 1: the kind of odd lot there. It looks like cash.

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Speaker 1: They're coming back with cash. Every day. They say, oh

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Speaker 1: they got a new revelation in cash. Hotil now they're

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Speaker 1: claiming cash Hotel fired all the FBI agents last week.

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Speaker 1: But hey, you know what, good on you, good on you.

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Speaker 1: You started your job early. That's their new thing. Every

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Speaker 1: new every day is a new revelation in cash. They've

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Speaker 1: put his Committee of Jurisdiction, the Judiciary vote till Thursday.

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Speaker 1: I think the other votes are tomorrow. But Pam Bondi

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Speaker 1: is in Emil Bovie is there. They're doing an amazing job.

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Speaker 1: Todd Blanche is not not confirmed, but Emol's there doing

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Speaker 1: a fantastic job. I would set a task force immediately

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Speaker 1: or parse it out to the Southern District of the

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Speaker 1: Eastern District. Let's get any criminal investigation going on, Tiss

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Speaker 1: James and Alvin Bragg, if nothing more, put the fear

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Speaker 1: of God in them. Slow them down, because they're coming

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Speaker 1: for Trump. They're coming for this administration. They feel that

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Speaker 1: they are the last line of defense of the iministrative

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Speaker 1: and particularly the deep state. And remember there are many, many, many,

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Speaker 1: many dark secrets in New York between the capital in

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Speaker 1: the intelligence. This is why Donovan when he sept the

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Speaker 1: while Bill Donovan and we scept the oss. He would

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Speaker 1: picked from two basic types of people Wall Street lawyers,

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Speaker 1: of which he was one, deal lawyers and investment bankers.

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Speaker 1: That's a crowd that you know could get things done

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Speaker 1: their way. A lot of dark secrets there. Okay, we've

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Speaker 1: got a full press briefing. I guess a presser from

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Speaker 1: President Trump's sunning the executive is days of Thunder continue

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Speaker 1: and the Attorney General Pam Bondi hits it about what

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Speaker 1: a beautiful view. Oh my lord, Oh my lord, New York,

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Speaker 1: New York, stunning shortbreak back in a moment in the worry.

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Speaker 6: In America, supplining or removing any staff that are found

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Speaker 6: to have engaged in D banking activity, furthering Operation Choke

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Speaker 6: point two point zero, or other misconduct.

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Speaker 7: I can't make an open ended, committed tom to remove anybody,

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Speaker 7: but I will tell you that I am struck in

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Speaker 7: my colleagues, and I are struck by the growing number

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Speaker 7: of cases of what appears to be D banking, and

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Speaker 7: we're determined to take a fresh look at that. In fact,

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Speaker 7: I took the thing that you showed during the dbanking

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Speaker 7: hearing when I saw that we're we're not taking that

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Speaker 7: out of the manual, So I thank you for that.

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Speaker 8: Over the weekend, Co President Musk and Acting Director effectively

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Speaker 8: shut down the CFPB. No more cop on the beat

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Speaker 8: looking out for a family of four in South Carolina

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Speaker 8: facing an illegal foreclosure. No more cop on the beat

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Speaker 8: looking out for your grandma whose bank account has just

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Speaker 8: been taken over by a scammer. No more cop on

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Speaker 8: the beat looking out for people getting ripped off by

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Speaker 8: giant credit card companies that are charging illegal junk fees.

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Speaker 8: It also means that the CFPB is no longer doing

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Speaker 8: one of its most important jobs, examining big banks to

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Speaker 8: root out illegal conduct before it happens, or at least

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Speaker 8: stop it before more people get hurt.

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Speaker 1: Chair Powell.

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Speaker 8: If the CFPB isn't on the job right now, then

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Speaker 8: who is administering JP Morgan or Wells Fargo's consumer compliance

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Speaker 8: exams to ensure that they are following the law?

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Speaker 7: Senator I believe that, and you would know that Dodd

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Speaker 7: Frank moved all authority for examinations in the consumer space

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Speaker 7: to the CFPB.

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Speaker 1: Are the weekies let me have it? Okay, we may

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Speaker 1: come back to poor pal getting beaten up there by

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Speaker 1: the he clearly that's the old Republican way of doing

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Speaker 1: things power which never got anything got done. You see

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Speaker 1: the new one where they just defund it, cut the

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Speaker 1: money off, and tell everybody don't show up to work

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Speaker 1: on Monday. Hey, the courts may have to get involved.

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Speaker 1: I think there's a theory of the case that says

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Speaker 1: the president, as exe is executive power, has the rights

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Speaker 1: to do that. It's going to work itself out through

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Speaker 1: the courts. They're going to get involved. They are involved.

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Speaker 1: The Left is running as they always do. They've controlled

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Speaker 1: the courts for a while, they've controlled the Justice Department.

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Speaker 1: And my point is, is as serious that is in

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Speaker 1: slowing us down? Since I think things are being done correctly.

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Speaker 1: And look, I'm sure there's a lot of questions out

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Speaker 1: there about the data they're putting AI in. That's all

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Speaker 1: got to be worked out. President Trump says that he's

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Speaker 1: on top of things, so that'll be worked out. But

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Speaker 1: as far as the effort itself, it may slow it down,

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Speaker 1: but it's not going to eliminate it. Letitia James and Bragg,

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Speaker 1: who are sore US acolytes, it's a different deal. And remember,

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Speaker 1: every financial transaction, all the information, all commercial information, all

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Speaker 1: trade information, eventually goes through something that touches a server

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Speaker 1: in New York and then they have jurisdiction. Plus the

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Speaker 1: big the way you finance the government is all in

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Speaker 1: New York. In ain't in Washington, d C. So this

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Speaker 1: massive apparatus that kind of coordinates and connects everything with

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Speaker 1: the Treasury Department is anchored in the financial capital of

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Speaker 1: the world. As you would imagine Philip Patrick, a CBO

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Speaker 1: so Womack. I don't know if we have that tweet. Womack,

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Speaker 1: Steve Womack's a guy from Arkansas. He's one of the cardinals.

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Speaker 1: He's one of the old bulls in the Republican Party.

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Speaker 1: And he's not a guy he's on banking commitsis and

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Speaker 1: he's not a guy that he doesn't jump in front

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Speaker 1: of the camera a lot. This is not a guy

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Speaker 1: who's got a high media profile. He put a tweet

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Speaker 1: out he had just gotten out of these conference meetings,

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Speaker 1: and he gets that. He goes, man, I was just

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Speaker 1: in this conference and talk reconciling this, reconciling that. And

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Speaker 1: he said, the only thing I want to know about

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Speaker 1: was March fourteenth, what's your plan to keep the government funded?

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Speaker 1: And he says, crickets on that. Nobody brings up, nobody

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Speaker 1: talks about it. CBO put out a report I think

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Speaker 1: I got to you, Philip on Friday that shows CBO

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Speaker 1: does And I don't always agree with the CBO numbers,

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Speaker 1: as you don't either, but they're directionally pretty close. They

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Speaker 1: say that they've got a projection year by year between

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Speaker 1: now and twenty thirty five, ten years of which we

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Speaker 1: are two trillion dollars eight per year deficit. And we

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Speaker 1: continue down the path for ten years and so at

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Speaker 1: the end, and it actually gets a little higher towards

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Speaker 1: the end, but in twenty thirty five, where it's fifty

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Speaker 1: two trillion dollars in debt and you know, barely struggling

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Speaker 1: because you know, the debt expense is so high, and

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Speaker 1: I realize the economy grows, although they say the economy

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Speaker 1: is going to grow one point eight percent per year.

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Speaker 1: And one of the reasons for that, Philip Patrick, is

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Speaker 1: the massive debt load that we hold. So given that

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Speaker 1: that nobody wants to talk about the fourteenth, the garment's

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Speaker 1: going to shut down, and folks write this down. They're

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Speaker 1: going to give you a one year They're going to

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Speaker 1: give you a full year extension to the cr So

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Speaker 1: we'll go for the rest of the fiscal year. It'll

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Speaker 1: be like an omnibus. There'll be all kind of garbage

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Speaker 1: in there. It'll be to the end of the year.

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Speaker 1: It'll be Biden's numbers one hundred percent. Trump's first year

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Speaker 1: because it has to be almost by law. It will

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Speaker 1: be a two trillion dollar deficit in President Trump's first year.

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Speaker 1: And remember they kick the can down the road from

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Speaker 1: December and wait for it, not one penny of the

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Speaker 1: DOGE cuts will be in there, because then they'll say, oh,

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Speaker 1: we'll get to those in July. For the next year,

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Speaker 1: it'll it'll be the biggest kick the can down the road. Now,

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Speaker 1: given that you represent a company that specializes in hedging

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Speaker 1: against times of financial turbulence, your thoughts, sir.

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Speaker 9: Yeah, I mean, look, the situation is dire, and then

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Speaker 9: there is still no understanding on the left of the

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Speaker 9: scale of the problem. At least we have an administration

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Speaker 9: that does But as you say, so, the CBO estimate

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Speaker 9: now eight hundred and thirty eight billion dollar deficit in

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Speaker 9: the last four months. That's three hundred and six billion

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Speaker 9: more than the same time frame a year ago. So

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Speaker 9: spendings climbed fifteen percent. We are heading in the wrong

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Speaker 9: direction and it is happening now at a faster rate. Obviously,

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Speaker 9: this is nothing to do with President Trump. We haven't

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Speaker 9: even got his budget yet. And at the same time,

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Speaker 9: the Treasury Department is already using extraordinary measures to prevent

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Speaker 9: breaching the debt ceiling.

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Speaker 5: So I, like you, think it is very possible.

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Speaker 9: The Dems once again will try and force to through

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Speaker 9: a continuing resolution, which would leave Biden's spending priorities in

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Speaker 9: place even longer. Even Tim Cole, the House Appropriation Committee chair,

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Speaker 9: suggested this week that we should leave it in place

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Speaker 9: until we get Trump's stuff. Obviously, this is an unmitigated disaster,

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Speaker 9: and I think it's these constant failures.

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Speaker 5: To draw a line in the that have gotten us

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Speaker 5: into the position we are.

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Speaker 9: Like you say, twelve months from now, US national debt

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Speaker 9: will be at forty trillion and it'll rise consistently from there.

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Speaker 5: That's going to be a problem at the end of

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Speaker 5: the day.

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Speaker 9: The one thing President Trump needs is time, right, He

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Speaker 9: needs time to rebuild the economy, rebuild the base, and

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Speaker 9: grow the economy. But the problem is, the faster we

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Speaker 9: are mass debt, the less time he'll have to do that.

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Speaker 9: The higher interest rates go, the less scope he'll have

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Speaker 9: to do that. So you know, we know we have

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Speaker 9: the right man in the hot seat, that the job

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Speaker 9: is fraught, and almost every decision he has today comes

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Speaker 9: with a negative as well.

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Speaker 1: You know, people have embraced Elon Musk and particularly the

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Speaker 1: doge guys that are you know, run around and they

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Speaker 1: talk every day like today they didn't give money to

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Speaker 1: FEMA to pay the hotel, the Roosevelt Hotel with the

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Speaker 1: illegal aliens in it. Every day they're popping up with something,

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Speaker 1: and it's kind of these twoesies. But you know, you're

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Speaker 1: seeing usaid, which people have worked on for years, but

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Speaker 1: other things. But you see some talk on Capitol Hill,

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Speaker 1: but you don't seem like a wild embrace because the

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Speaker 1: political class does not want to cut spending ever, because

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Speaker 1: having more spending increases their power. What is it going

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Speaker 1: to take, Philip to have a serious conversation, Because until

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Speaker 1: we come to a joint conclusion that we have to

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Speaker 1: cut spending, it's going to continue on unless you have

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Speaker 1: a crisis, in a crisis where you feel that people

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Speaker 1: could step in there say we're not going to bail

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Speaker 1: ourselves out there like they're trying to bail themselves OUs

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Speaker 1: from the AI Sputnik moment. What do you think is

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Speaker 1: going to take to get the political class to actually

430
00:23:41,800 --> 00:23:43,600
Speaker 1: sit there and say we're prepared to cut spending.

431
00:23:46,320 --> 00:23:48,720
Speaker 9: That is such a difficult question to answer because the

432
00:23:48,800 --> 00:23:52,040
Speaker 9: reality is if they are not at that place yet,

433
00:23:52,720 --> 00:23:54,640
Speaker 9: I don't know what's going to get them there. It'll

434
00:23:54,680 --> 00:23:59,080
Speaker 9: take voting in some better politicians long term. Listen, the

435
00:23:59,160 --> 00:24:04,160
Speaker 9: fact that Dooji isn't gaining bipartisan support for me is concerning.

436
00:24:04,240 --> 00:24:06,720
Speaker 9: I mean, look, it is very clear that there is

437
00:24:06,800 --> 00:24:10,400
Speaker 9: a ton of waste in government spending, and why both

438
00:24:10,520 --> 00:24:14,720
Speaker 9: sides of the aisle aren't interested in really even identifying

439
00:24:14,840 --> 00:24:16,960
Speaker 9: the problem. I think you hit the nail on the

440
00:24:17,040 --> 00:24:18,840
Speaker 9: head at the end of the day, it doesn't suit

441
00:24:19,160 --> 00:24:22,359
Speaker 9: their political ambitions to do so. So as long as

442
00:24:22,440 --> 00:24:25,119
Speaker 9: we have that conflict of interest, I don't see a

443
00:24:25,240 --> 00:24:28,359
Speaker 9: change happening. Look, we've said for a long time we

444
00:24:28,600 --> 00:24:31,560
Speaker 9: may be at the point of no return. Right last year,

445
00:24:31,680 --> 00:24:35,760
Speaker 9: debt service payments were fifty percent above US defense spending.

446
00:24:36,040 --> 00:24:38,879
Speaker 9: We have to understand, no empire in the history of

447
00:24:39,000 --> 00:24:42,320
Speaker 9: mankind has come back from that position. Like, if that

448
00:24:42,560 --> 00:24:45,440
Speaker 9: isn't enough to wake these people up, I don't know

449
00:24:45,560 --> 00:24:49,840
Speaker 9: what is so. Like I said, it's very difficult to

450
00:24:50,080 --> 00:24:54,560
Speaker 9: argue against looking through government spending with a fine toothcomb

451
00:24:54,800 --> 00:24:58,840
Speaker 9: and cutting wasteful spending. You know, any argument against that

452
00:24:59,200 --> 00:25:00,960
Speaker 9: is a self interested argument.

453
00:25:01,040 --> 00:25:04,720
Speaker 5: It is that symbol. What is it?

454
00:25:05,000 --> 00:25:06,760
Speaker 1: What gold? We got about a minute? I want to

455
00:25:06,760 --> 00:25:08,280
Speaker 1: hold you through the break for a lot while we've

456
00:25:08,280 --> 00:25:10,440
Speaker 1: got we're also going to play the oval office, so

457
00:25:10,480 --> 00:25:12,399
Speaker 1: we're going to figure out how to get all this in.

458
00:25:13,600 --> 00:25:17,280
Speaker 1: But take me through the dynamics. What are the dynamics

459
00:25:17,320 --> 00:25:21,000
Speaker 1: that are driving the increase? What a gold finish at today?

460
00:25:21,880 --> 00:25:23,879
Speaker 1: I was in a pre disappointment before I did the

461
00:25:24,160 --> 00:25:26,040
Speaker 1: last part. What is it?

462
00:25:26,080 --> 00:25:29,160
Speaker 9: Of course, gold today traded finished in the twenty nine

463
00:25:29,280 --> 00:25:31,480
Speaker 9: hundred and twenty nine h two. It's an all time

464
00:25:31,600 --> 00:25:34,960
Speaker 9: high for gold prices. By the way, gold has consistently

465
00:25:35,119 --> 00:25:38,800
Speaker 9: been setting all time highs over the last few years.

466
00:25:39,160 --> 00:25:41,480
Speaker 5: What's driving it is a lot of what we're talking about.

467
00:25:41,560 --> 00:25:45,240
Speaker 9: We're seeing, you know, global debt rise across the board,

468
00:25:45,600 --> 00:25:49,760
Speaker 9: we're seeing d dollarization, and ultimately what's really driving gold

469
00:25:50,160 --> 00:25:53,199
Speaker 9: is demand. We got fourth quarter numbers at the beginning

470
00:25:53,240 --> 00:25:56,600
Speaker 9: of February. We set another record for central bank gold

471
00:25:56,680 --> 00:25:59,280
Speaker 9: buying in twenty four So for the last three years,

472
00:25:59,359 --> 00:26:02,840
Speaker 9: central bank around the world setting us.

473
00:26:04,640 --> 00:26:07,480
Speaker 1: Hang on, I want to go back to this. It's

474
00:26:07,480 --> 00:26:11,479
Speaker 1: important for the audience to understand the interconnectivity in massive

475
00:26:11,520 --> 00:26:17,280
Speaker 1: federal spending, the deterioration of the fear currency, and the

476
00:26:17,359 --> 00:26:20,879
Speaker 1: correlation with that with the demand for a store of

477
00:26:21,080 --> 00:26:28,440
Speaker 1: value this called gold or precious metals. Okay, Nicole mcgrady's

478
00:26:28,440 --> 00:26:32,320
Speaker 1: going to take us out with modern day Holy war.

479
00:26:32,520 --> 00:26:34,840
Speaker 1: We have Philip Patrick. We're also going to cut back

480
00:26:34,920 --> 00:26:38,560
Speaker 1: to We're going to cut back to the Oval Office

481
00:26:38,680 --> 00:26:40,760
Speaker 1: as soon as we get that clip. All set to

482
00:26:40,800 --> 00:26:43,600
Speaker 1: go short commercial break back in the warm in a moment.

483
00:26:45,480 --> 00:26:49,399
Speaker 8: A little sales in stayne don't.

484
00:26:57,200 --> 00:26:57,520
Speaker 2: Mine.

485
00:26:59,320 --> 00:27:04,800
Speaker 4: When we're talking about collaborating with the CFPB for financial

486
00:27:04,880 --> 00:27:08,920
Speaker 4: technology firms, what would the Fed Reserve now do that

487
00:27:09,160 --> 00:27:12,280
Speaker 4: if the CFPD, if the hypothetical is the CFPD no

488
00:27:12,359 --> 00:27:15,280
Speaker 4: longer exists, what would be the Fed's role right now

489
00:27:15,359 --> 00:27:16,960
Speaker 4: with respect to technology firms?

490
00:27:17,200 --> 00:27:21,080
Speaker 7: We don't have jurisdiction over We have jurisdiction over banks

491
00:27:21,280 --> 00:27:23,000
Speaker 7: and some finialk could you tell so.

492
00:27:23,400 --> 00:27:25,359
Speaker 4: Let me ask you this because I know there's a

493
00:27:25,480 --> 00:27:30,160
Speaker 4: number of Nevadens who file consumer reports of concerns about

494
00:27:30,240 --> 00:27:33,720
Speaker 4: fraud and predators with the CFPB. The Fed Reserve doesn't

495
00:27:33,760 --> 00:27:36,119
Speaker 4: receive those reports, correct, No, I don't, And you have

496
00:27:36,240 --> 00:27:39,800
Speaker 4: no role when it comes to consumer protection like the

497
00:27:39,920 --> 00:27:40,720
Speaker 4: CFPB does.

498
00:27:40,800 --> 00:27:44,640
Speaker 7: Correct, Unless you're a FED member bank that has ten

499
00:27:44,680 --> 00:27:47,680
Speaker 7: billion or less in assets, then we have jurisdiction.

500
00:27:47,880 --> 00:27:50,800
Speaker 4: Right, So there is a gap if the hypothethetical is

501
00:27:50,840 --> 00:27:53,080
Speaker 4: true and what we're hearing that the CFPB is being

502
00:27:53,119 --> 00:27:55,760
Speaker 4: shut down, there is a gap what we're hearing an

503
00:27:55,920 --> 00:27:59,640
Speaker 4: enforcement out there, and particularly when it comes to consumer

504
00:27:59,680 --> 00:28:00,240
Speaker 4: protect action.

505
00:28:01,160 --> 00:28:02,360
Speaker 5: Would you say that's true.

506
00:28:02,440 --> 00:28:06,080
Speaker 1: Yes, for all banks that we don't Yeah, Supervisor, And

507
00:28:06,119 --> 00:28:06,520
Speaker 1: I think.

508
00:28:06,400 --> 00:28:09,280
Speaker 4: That's the concern we're all having right now, is this

509
00:28:09,520 --> 00:28:13,280
Speaker 4: concern of when we're looking to streamline government and listen,

510
00:28:13,320 --> 00:28:14,920
Speaker 4: I'll first to tell you there's a lot of bloat.

511
00:28:15,000 --> 00:28:19,320
Speaker 4: We need to streamline it, we need to address regulations

512
00:28:19,359 --> 00:28:22,119
Speaker 4: in overreach, but there's a strategic way to do it

513
00:28:22,280 --> 00:28:24,360
Speaker 4: and not this burned down the house that is going

514
00:28:24,440 --> 00:28:27,280
Speaker 4: to harm people across the country, including in my state,

515
00:28:27,320 --> 00:28:32,119
Speaker 4: those Nevadans that are looking for some sort of enforcement

516
00:28:32,480 --> 00:28:33,880
Speaker 4: around consumer protection law.

517
00:28:33,960 --> 00:28:36,360
Speaker 1: So that's eventually we're going to find the part where

518
00:28:36,359 --> 00:28:41,760
Speaker 1: he talks about interest rates. Eventually we keep looking Philip Patrick.

519
00:28:42,560 --> 00:28:45,560
Speaker 1: The engine room informs me, because the engine room are

520
00:28:45,680 --> 00:28:48,600
Speaker 1: devotees of Philip Patrick or Birch Gold said you're too modest,

521
00:28:49,240 --> 00:28:53,760
Speaker 1: says they piled into here a year ago. Year over year,

522
00:28:53,840 --> 00:28:57,720
Speaker 1: goal's up forty four percent. It's any truth to that rumor, sir.

523
00:29:00,000 --> 00:29:03,560
Speaker 9: Indeed, Yeah, And I just leoked from our first release

524
00:29:03,600 --> 00:29:06,800
Speaker 9: of end of the Dollar Empire our fifty three percent.

525
00:29:07,080 --> 00:29:09,040
Speaker 5: So it is moving, it is.

526
00:29:09,120 --> 00:29:12,920
Speaker 1: Moving well, I want to get to that. Look, we

527
00:29:13,200 --> 00:29:18,120
Speaker 1: don't give investment advice, and gold traditionally doesn't move like

528
00:29:18,240 --> 00:29:21,400
Speaker 1: a stock. What is It's always been a store of value,

529
00:29:21,480 --> 00:29:23,560
Speaker 1: and it's a hedge against times of uncertainty. You can

530
00:29:23,640 --> 00:29:25,240
Speaker 1: kind of you've always been able to depend upon it

531
00:29:25,280 --> 00:29:27,880
Speaker 1: basically throughout mankind's history. Is one of the reason people

532
00:29:28,880 --> 00:29:31,440
Speaker 1: are attracted to gold as a as a hedge or

533
00:29:31,440 --> 00:29:33,840
Speaker 1: an investment, and it's why people have always talked about

534
00:29:34,160 --> 00:29:36,600
Speaker 1: you have to get the currency back, you know, to

535
00:29:36,840 --> 00:29:39,240
Speaker 1: to a gold standard or somehow backed by gold. The

536
00:29:39,320 --> 00:29:43,160
Speaker 1: bricks nations when they're when they're talking about these currencies,

537
00:29:43,160 --> 00:29:44,920
Speaker 1: and President Trump shot the hammer, says, do you even

538
00:29:44,960 --> 00:29:46,480
Speaker 1: talk about it. You're going to head a one hundred

539
00:29:46,480 --> 00:29:50,000
Speaker 1: percent terror. Don't even talk about it. The dollar is

540
00:29:50,040 --> 00:29:51,400
Speaker 1: going to be an empire for a long time, at

541
00:29:51,480 --> 00:29:53,280
Speaker 1: least on my watch. It's not going to leave them

542
00:29:53,320 --> 00:29:56,880
Speaker 1: my watch. But you have these central banks, and I

543
00:29:56,960 --> 00:29:59,840
Speaker 1: keep saying they're the tell the central banks. As they

544
00:29:59,880 --> 00:30:02,200
Speaker 1: have all these guys from Harvard, all these guys from Stanford,

545
00:30:02,200 --> 00:30:04,720
Speaker 1: they have the handheld calcula, the HP twelve ce, they

546
00:30:04,760 --> 00:30:07,440
Speaker 1: can do net present value. They see the deterioration of

547
00:30:07,480 --> 00:30:11,240
Speaker 1: the purchasing power of the dollar. Why because at midnight

548
00:30:11,320 --> 00:30:13,760
Speaker 1: on the fourteenth, folks, the political class is not going

549
00:30:13,840 --> 00:30:16,360
Speaker 1: to have the balls to actually present you a budget.

550
00:30:16,440 --> 00:30:18,000
Speaker 1: We're just going to kick the can down the road,

551
00:30:18,000 --> 00:30:19,400
Speaker 1: and we're going to have with all the talk that

552
00:30:19,440 --> 00:30:22,080
Speaker 1: we've had and all the STRM and dron that we had,

553
00:30:22,480 --> 00:30:25,680
Speaker 1: we're gonna have Biden's numbers, a two trillion dollar deficit

554
00:30:25,960 --> 00:30:28,320
Speaker 1: and no Doge cuts as we stand now, unless we

555
00:30:28,400 --> 00:30:33,280
Speaker 1: can wake people up. So what is the dynamic that's

556
00:30:33,400 --> 00:30:36,600
Speaker 1: driving these central banks to buy it and to see

557
00:30:36,680 --> 00:30:40,040
Speaker 1: this kind of you know, incredible push of gold all

558
00:30:40,080 --> 00:30:42,320
Speaker 1: the way up to all time highs.

559
00:30:43,520 --> 00:30:46,080
Speaker 5: Look, there's a few different drivers. Look.

560
00:30:46,480 --> 00:30:48,840
Speaker 9: First of all, you know, the world has always had

561
00:30:48,920 --> 00:30:52,480
Speaker 9: incentives to use the US dollar. Right after nineteen forty

562
00:30:52,520 --> 00:30:55,840
Speaker 9: six till nineteen seventy one, it was the dollars redeemability.

563
00:30:56,080 --> 00:30:59,520
Speaker 9: Right following that we have the Petro dollar agreement, and

564
00:30:59,640 --> 00:31:03,280
Speaker 9: the key thing with the US dollar has always been stability.

565
00:31:03,400 --> 00:31:06,200
Speaker 9: As far as currencies go, it is the most stable,

566
00:31:06,240 --> 00:31:08,640
Speaker 9: and the world was incentivized to use it.

567
00:31:08,800 --> 00:31:11,280
Speaker 5: Well, look at what we've done to our currency over the.

568
00:31:11,320 --> 00:31:14,560
Speaker 9: Last fifteen years. We printed more money than ever before

569
00:31:14,600 --> 00:31:16,880
Speaker 9: in history. What has that done. It has led to

570
00:31:16,960 --> 00:31:21,120
Speaker 9: a devaluation of the dollar, incentivized nations around the world

571
00:31:21,360 --> 00:31:25,440
Speaker 9: to look for alternatives. Through Biden's weaponization of the dollar,

572
00:31:25,520 --> 00:31:28,480
Speaker 9: we told nations around the world, you do something we

573
00:31:28,680 --> 00:31:32,720
Speaker 9: morally object to, your dollars can become liabilities overnight. We

574
00:31:32,800 --> 00:31:36,360
Speaker 9: are removing incentives for nations around.

575
00:31:36,120 --> 00:31:37,080
Speaker 5: The world to hold the dollar.

576
00:31:37,120 --> 00:31:37,239
Speaker 1: Well.

577
00:31:37,280 --> 00:31:38,400
Speaker 5: The problem is, as.

578
00:31:38,360 --> 00:31:41,240
Speaker 9: We've said before, the dollar is still the tallest midget

579
00:31:41,280 --> 00:31:44,440
Speaker 9: in the room. There isn't a currency yet better than

580
00:31:44,520 --> 00:31:47,520
Speaker 9: the US dollar. But central banks around the world are

581
00:31:47,600 --> 00:31:50,440
Speaker 9: betting on the failure of the dollar longer term, and

582
00:31:50,520 --> 00:31:53,280
Speaker 9: they're doing so by buying gold. The reason you buy

583
00:31:53,400 --> 00:31:57,240
Speaker 9: gold when you're worried about long term dollar prospects of

584
00:31:57,240 --> 00:32:01,120
Speaker 9: the dollar. Gold and the dollar are directly so. A

585
00:32:01,320 --> 00:32:04,560
Speaker 9: bet on gold at the level that we've sent central

586
00:32:04,640 --> 00:32:06,960
Speaker 9: banks to it over the last three years is a

587
00:32:07,160 --> 00:32:10,720
Speaker 9: large bet against the US dollar. The reality is they

588
00:32:10,760 --> 00:32:15,000
Speaker 9: don't know which currency will ultimately overtake.

589
00:32:14,560 --> 00:32:17,560
Speaker 5: The dollar longer term. But that's why they're buying gold.

590
00:32:17,600 --> 00:32:20,520
Speaker 9: They're hedging their bets, and gold is the best way

591
00:32:20,600 --> 00:32:22,680
Speaker 9: to do it when currency is involved.

592
00:32:26,000 --> 00:32:28,200
Speaker 1: What do you see if we continue like, for instance,

593
00:32:29,080 --> 00:32:31,680
Speaker 1: I know you're not here, and you never do project

594
00:32:31,800 --> 00:32:33,520
Speaker 1: like the price of goal, what's going to be? But

595
00:32:33,760 --> 00:32:38,760
Speaker 1: just in pattern recognitions, if we have a failure of

596
00:32:38,920 --> 00:32:43,000
Speaker 1: the political class, if we have they thought President Trump's

597
00:32:43,000 --> 00:32:46,160
Speaker 1: efforts to try to get spending under control, if the

598
00:32:46,280 --> 00:32:50,440
Speaker 1: CBO numbers and Cameron and the team and Grace, I'd

599
00:32:50,720 --> 00:32:54,280
Speaker 1: really like to get that tenure report out and people

600
00:32:54,400 --> 00:32:56,880
Speaker 1: just there's a couple of summary charts, but you should someone.

601
00:32:56,920 --> 00:33:00,560
Speaker 1: It will seem dense, but I strongly recommend you get

602
00:33:00,640 --> 00:33:03,440
Speaker 1: it because it's a pretty good projection, at least one

603
00:33:03,600 --> 00:33:06,760
Speaker 1: attempt with some pretty basic assumptions of what could happen.

604
00:33:07,360 --> 00:33:12,480
Speaker 1: But if we continue on a perpetuity with two treeion

605
00:33:12,520 --> 00:33:14,440
Speaker 1: dollars deficits, and what I mean by that that the

606
00:33:14,960 --> 00:33:18,400
Speaker 1: cost of what we're paying out for defense and Social

607
00:33:18,400 --> 00:33:21,719
Speaker 1: Security and titlements and everything is two treeion dollars per

608
00:33:21,840 --> 00:33:26,200
Speaker 1: year higher than what we take in. And we get

609
00:33:26,240 --> 00:33:29,200
Speaker 1: to fifty two trillion dollars and ten years, where do

610
00:33:29,240 --> 00:33:32,240
Speaker 1: you think we are with precious metals? What's your pattern

611
00:33:32,280 --> 00:33:34,120
Speaker 1: recognition to say, what's the direction of gold?

612
00:33:35,960 --> 00:33:39,080
Speaker 9: The direction of gold is certainly to the upside, and

613
00:33:39,360 --> 00:33:41,840
Speaker 9: in the climate that you're describing, it is to the

614
00:33:41,920 --> 00:33:45,760
Speaker 9: upside significantly. We have to remember gold's value is a

615
00:33:45,840 --> 00:33:49,120
Speaker 9: reflection of the value of currency, right. I've always said

616
00:33:49,240 --> 00:33:52,560
Speaker 9: heading into this year, just with demand as it is,

617
00:33:53,040 --> 00:33:55,680
Speaker 9: we see gold over three thousand, lightly in the mid

618
00:33:55,800 --> 00:33:57,920
Speaker 9: three thousand dollars range by the end of this year.

619
00:33:58,240 --> 00:34:00,719
Speaker 5: However, look at guys like Jim Rickards.

620
00:34:00,800 --> 00:34:03,880
Speaker 9: Jim Rickards for a long time says in his lifetime

621
00:34:04,000 --> 00:34:06,760
Speaker 9: he'll see gold at ten thousand dollars an ounce. Right now,

622
00:34:07,400 --> 00:34:12,200
Speaker 9: he's talking about hyperinflation, right, He's talking about losing this

623
00:34:12,400 --> 00:34:16,000
Speaker 9: battle in a big way. If that happens, the sky's

624
00:34:16,040 --> 00:34:17,040
Speaker 9: the limit for gold price.

625
00:34:17,120 --> 00:34:17,279
Speaker 3: Now.

626
00:34:17,480 --> 00:34:20,560
Speaker 9: Rickards says, if gold's ten thousand dollars an ounce, we're

627
00:34:20,600 --> 00:34:22,560
Speaker 9: paying two hundred dollars for a loaf of bread.

628
00:34:22,800 --> 00:34:24,800
Speaker 5: That is not a good position to be in. So

629
00:34:25,200 --> 00:34:29,600
Speaker 5: it all depends on whether we win this battle longer term. Listen,

630
00:34:29,760 --> 00:34:31,839
Speaker 5: I'm hopeful with President Trump at the Helm.

631
00:34:32,040 --> 00:34:34,680
Speaker 9: But like I said, no nation has recovered from this

632
00:34:34,960 --> 00:34:38,440
Speaker 9: position before, and I'm hedging my bets and precious metals

633
00:34:38,480 --> 00:34:42,440
Speaker 9: are the best way to do that. They increase significantly

634
00:34:42,800 --> 00:34:44,200
Speaker 9: in times of devaluation.

635
00:34:46,320 --> 00:34:49,439
Speaker 1: Well, the chief fiduciaries of these major nations are hedging

636
00:34:49,520 --> 00:34:51,279
Speaker 1: their bed also. That's why I keep telling people just

637
00:34:51,320 --> 00:34:54,280
Speaker 1: look at the net gold purchases of the central banks.

638
00:34:54,320 --> 00:34:56,839
Speaker 1: They're telling you what they think. They're putting it away

639
00:34:56,840 --> 00:34:59,719
Speaker 1: for a rainy day. They're not buying they they could

640
00:35:00,560 --> 00:35:02,640
Speaker 1: they could be taking that money and putting it into

641
00:35:02,880 --> 00:35:07,680
Speaker 1: investment capital equipment in their countries. They're not why they're

642
00:35:07,719 --> 00:35:09,840
Speaker 1: putting some part of a money away to putting pressures

643
00:35:09,880 --> 00:35:11,040
Speaker 1: metals because they want to hedge.

644
00:35:11,120 --> 00:35:11,640
Speaker 5: They just don't.

645
00:35:11,719 --> 00:35:14,440
Speaker 1: They're very uncertain about the future. Go back to why

646
00:35:14,480 --> 00:35:17,600
Speaker 1: do people Milt Freeman. Milton Freeman made it popular, I

647
00:35:17,640 --> 00:35:20,480
Speaker 1: think in the seventies and eighties, and then after the

648
00:35:20,640 --> 00:35:23,840
Speaker 1: hyper inflation of Vulcar and Reagan, of which they Vulcan

649
00:35:23,920 --> 00:35:27,279
Speaker 1: Reagan killed, it kind of lost a why. And you

650
00:35:27,320 --> 00:35:29,200
Speaker 1: and I talked about this a lot. You always really

651
00:35:29,280 --> 00:35:31,600
Speaker 1: look at and I know Rand Paul and Ron Paul

652
00:35:31,640 --> 00:35:35,880
Speaker 1: would always do this. The money supply, the printing of money,

653
00:35:36,640 --> 00:35:39,279
Speaker 1: you know, more money into system, you know, printed by

654
00:35:39,280 --> 00:35:41,120
Speaker 1: the federal government. Why why do you look at that?

655
00:35:41,280 --> 00:35:43,440
Speaker 1: Why is that one the indicators you always look at

656
00:35:43,960 --> 00:35:46,000
Speaker 1: as as where the economy is going of how much

657
00:35:46,040 --> 00:35:47,399
Speaker 1: money is being printed.

658
00:35:48,400 --> 00:35:52,040
Speaker 9: Because it has a massive effect on currency and conversely

659
00:35:52,080 --> 00:35:54,400
Speaker 9: a massive effect on goal prices. At the end of

660
00:35:54,440 --> 00:35:58,799
Speaker 9: the day, you cannot increase money supplies indefinitely. It has

661
00:35:58,920 --> 00:36:03,279
Speaker 9: a significant impact on the existing money supply. Never in

662
00:36:03,640 --> 00:36:07,759
Speaker 9: history has a country that financed big budget deficits with

663
00:36:08,040 --> 00:36:12,120
Speaker 9: large amounts of central bank money avoided incredibly high levels

664
00:36:12,160 --> 00:36:15,799
Speaker 9: of inflation and devaluation. As somebody who invests in gold,

665
00:36:15,880 --> 00:36:19,360
Speaker 9: who sells gold, that's what we watch because ultimately inflation

666
00:36:19,560 --> 00:36:23,160
Speaker 9: drives gold up, the dear dollar, devaluation drives gold up,

667
00:36:23,200 --> 00:36:26,879
Speaker 9: and you cannot do what we've been doing without seeing

668
00:36:26,960 --> 00:36:27,880
Speaker 9: significant effects.

669
00:36:27,960 --> 00:36:30,600
Speaker 5: We've been saying this for a long time.

670
00:36:30,760 --> 00:36:33,800
Speaker 9: Now, everything we've been saying people thought we were crazy

671
00:36:34,239 --> 00:36:34,759
Speaker 9: years ago.

672
00:36:35,239 --> 00:36:37,959
Speaker 5: Now look at it. It is mainstream political thought.

673
00:36:38,280 --> 00:36:41,960
Speaker 9: Finally, even the left, they've woken up and understand that

674
00:36:42,040 --> 00:36:45,520
Speaker 9: we need to address deficit spending. Too little, too late,

675
00:36:45,680 --> 00:36:48,840
Speaker 9: In my mind, on their part, but even they realize

676
00:36:48,920 --> 00:36:50,120
Speaker 9: the extent of the problem.

677
00:36:51,800 --> 00:36:53,839
Speaker 5: This is going to be a tough one to come

678
00:36:53,960 --> 00:36:55,880
Speaker 5: back from. There's no question about it.

679
00:36:56,040 --> 00:36:59,719
Speaker 9: It's the most important thing today is deficit spending debt,

680
00:37:00,040 --> 00:37:04,280
Speaker 9: and it's all inextricably lent. Listen, the bricks are using

681
00:37:04,400 --> 00:37:07,279
Speaker 9: gold as a means to de dollarize. Number one, it's

682
00:37:07,360 --> 00:37:10,520
Speaker 9: more stable than the dollar, but two, it allows them

683
00:37:10,600 --> 00:37:14,400
Speaker 9: to reduce reliance on the dollar. So everything's connected. And

684
00:37:14,800 --> 00:37:17,320
Speaker 9: like I said, there's a reason gold is setting records

685
00:37:17,400 --> 00:37:18,760
Speaker 9: day on day on day today.

686
00:37:20,960 --> 00:37:22,400
Speaker 1: This is the reason we make such a big deal.

687
00:37:22,480 --> 00:37:24,560
Speaker 1: But to fourteenth th any negotiation you have to have

688
00:37:24,680 --> 00:37:28,000
Speaker 1: leverage points. Well, we got one. We're on emergency measures

689
00:37:28,080 --> 00:37:31,560
Speaker 1: right now. We've already breached the debt ceiling. We're in

690
00:37:31,640 --> 00:37:35,560
Speaker 1: emergency measures right now because we can't addy more debt technically,

691
00:37:35,680 --> 00:37:37,960
Speaker 1: so we're just taking cash and paying off taking cash

692
00:37:38,000 --> 00:37:39,560
Speaker 1: as it comes in and paying off what we got

693
00:37:39,640 --> 00:37:42,800
Speaker 1: to pay off. The clock work strikes at midnight on

694
00:37:42,920 --> 00:37:46,000
Speaker 1: the fourteenth, when we've got to have new authorization to

695
00:37:46,040 --> 00:37:48,080
Speaker 1: spend any more money. So we're going to use that

696
00:37:48,080 --> 00:37:52,279
Speaker 1: as a leverage point. I think it's Kenneth Rogoff has

697
00:37:52,320 --> 00:37:56,520
Speaker 1: that famous book, This time It's completely different. Every empire,

698
00:37:56,719 --> 00:38:01,400
Speaker 1: every kingdom, every country from France before the revolution to

699
00:38:01,480 --> 00:38:04,600
Speaker 1: the everybody. Every time they breach one hundred you know,

700
00:38:05,280 --> 00:38:09,520
Speaker 1: more debt than GDP, they always the finance miners, they

701
00:38:09,560 --> 00:38:11,480
Speaker 1: always say, well, hang on, this time is different. We

702
00:38:11,840 --> 00:38:14,440
Speaker 1: got this and here's how we got it. History shows

703
00:38:15,080 --> 00:38:17,480
Speaker 1: they've been one hundred percent wrong. It's a perfect right,

704
00:38:17,560 --> 00:38:22,320
Speaker 1: it's a perfect record. They never come back, they just don't. So,

705
00:38:23,360 --> 00:38:26,920
Speaker 1: you know, somehow we got one brief, shining moment to

706
00:38:27,000 --> 00:38:30,000
Speaker 1: do it, and that is now. How do people in

707
00:38:30,120 --> 00:38:32,759
Speaker 1: this time of turbulence? How did they get to you?

708
00:38:33,320 --> 00:38:36,279
Speaker 1: You become a real you know, fan favorite here, people

709
00:38:36,360 --> 00:38:39,239
Speaker 1: love you coming on? How do they get to you?

710
00:38:39,320 --> 00:38:41,000
Speaker 1: How do they get to your team to talk to

711
00:38:41,040 --> 00:38:43,359
Speaker 1: you personally about their situation and what they what they

712
00:38:43,400 --> 00:38:44,239
Speaker 1: should be thinking about.

713
00:38:45,080 --> 00:38:47,840
Speaker 9: Of course, well, thank you, Steve, so very simple, birch

714
00:38:47,960 --> 00:38:51,919
Speaker 9: Gold dot com forward slash Bannon again, birch Gold dot

715
00:38:52,000 --> 00:38:55,440
Speaker 9: com forward slash bannon. That'll get them access to end

716
00:38:55,480 --> 00:38:58,600
Speaker 9: of the dollar empire, all of the reports there.

717
00:39:00,160 --> 00:39:01,080
Speaker 1: How and why to.

718
00:39:01,200 --> 00:39:02,160
Speaker 5: Invest in pressures?

719
00:39:02,160 --> 00:39:05,919
Speaker 9: Medal so a guide on pressures medal and investing under

720
00:39:05,960 --> 00:39:07,480
Speaker 9: a Trump administration as well.

721
00:39:07,560 --> 00:39:09,080
Speaker 5: So lots of free information.

722
00:39:09,640 --> 00:39:13,400
Speaker 9: Birchgold dot com forward slash Spannon or tax spanning to

723
00:39:13,520 --> 00:39:16,120
Speaker 9: nine eight nine eight ninety eight, and they can reach

724
00:39:16,280 --> 00:39:19,279
Speaker 9: me at Philippatrick on geta.

725
00:39:22,200 --> 00:39:25,480
Speaker 1: Philip Patrick. Thank you, sir, Appreciate you coming on, Appreciate

726
00:39:25,480 --> 00:39:27,000
Speaker 1: your putting stuff up on social media.

727
00:39:27,960 --> 00:39:29,440
Speaker 5: Thank you Steve, thanks for having me.

728
00:39:33,080 --> 00:39:34,880
Speaker 1: So birch gold dot com. Make sure you go to

729
00:39:35,320 --> 00:39:39,160
Speaker 1: Into the Dollar Empire birch gold dot com slash Bannon

730
00:39:39,440 --> 00:39:41,160
Speaker 1: into the Dollar Empire. We're also going to have a

731
00:39:41,239 --> 00:39:44,719
Speaker 1: special deal running up on seapack about that, so make

732
00:39:44,719 --> 00:39:48,960
Speaker 1: sure you check it out also seapack dot org slash

733
00:39:49,239 --> 00:39:53,000
Speaker 1: war Room. It's a warroom mode, I think it is.

734
00:39:53,200 --> 00:39:55,000
Speaker 1: It's not Warren Bannon. Try one of the other. I

735
00:39:55,040 --> 00:39:58,760
Speaker 1: think it's war room. Seventy six dollars. Ticket seventy six dollars.

736
00:39:59,160 --> 00:40:03,160
Speaker 1: You're going to get a Force Multiply Academy and a

737
00:40:03,239 --> 00:40:05,520
Speaker 1: free lunch. Was showing a ticket. You're also we've got

738
00:40:05,520 --> 00:40:07,880
Speaker 1: a couple of parties hope to get everybody into. Some

739
00:40:08,000 --> 00:40:10,040
Speaker 1: of that may be first come first so we're gonna

740
00:40:10,040 --> 00:40:13,000
Speaker 1: try to get everybody in over at Butterworris and we

741
00:40:13,080 --> 00:40:14,759
Speaker 1: got a bunch on Sunday a lot. We're gonna be

742
00:40:14,800 --> 00:40:17,560
Speaker 1: hanging out and having a great time. Couldn't be more excited.

743
00:40:17,960 --> 00:40:19,360
Speaker 1: The entire team is going to be back there. You

744
00:40:19,440 --> 00:40:21,000
Speaker 1: get to meet everybody who'll hang out. We're gonna have

745
00:40:21,000 --> 00:40:23,600
Speaker 1: great shows, real Americans. Got an incredible studio. And guess what,

746
00:40:24,320 --> 00:40:26,000
Speaker 1: we don't have to be quiet. Remember last year they

747
00:40:26,000 --> 00:40:29,880
Speaker 1: were coming in a sh war imposse. You've got to

748
00:40:29,920 --> 00:40:33,000
Speaker 1: be quite. No, we kick out the jams this year.

749
00:40:34,400 --> 00:40:38,920
Speaker 1: It's the last year at National Harbor. Let's make sure

750
00:40:38,960 --> 00:40:40,799
Speaker 1: that they think. Man, we're glad we're rid of those guys.

751
00:40:41,360 --> 00:40:45,960
Speaker 1: They were obnoxious. They have all the government conferences over

752
00:40:46,000 --> 00:40:48,160
Speaker 1: the GSA. When you walk in, they're giving you a

753
00:40:48,200 --> 00:40:50,759
Speaker 1: stink guy because they know you're part of manga. Sure

754
00:40:50,840 --> 00:40:52,919
Speaker 1: commercial break back in the war in just a moment.

755
00:40:53,239 --> 00:40:55,400
Speaker 5: God, we were Joe.

756
00:41:00,600 --> 00:41:08,280
Speaker 1: Stephen came back. Okay, we're gonna need you at the ramparts,

757
00:41:08,360 --> 00:41:11,719
Speaker 1: particularly tomorrow. We're gonna have a full day. We'll start

758
00:41:11,719 --> 00:41:13,160
Speaker 1: at ten o'clock in the morning. They're gonna be full

759
00:41:13,200 --> 00:41:17,080
Speaker 1: day because they're gonna be votes tomorrow and Thursday for Tulsi,

760
00:41:17,600 --> 00:41:22,320
Speaker 1: Bobby Kennedy and Cash. But tell Cash they're accusing Cash

761
00:41:22,400 --> 00:41:25,160
Speaker 1: now and wistle blower has accused Cash of being involved

762
00:41:25,360 --> 00:41:28,200
Speaker 1: in the FBI firings last week. Before he's involved in

763
00:41:28,239 --> 00:41:31,000
Speaker 1: the FBI, I would think I would say, thank God

764
00:41:32,000 --> 00:41:34,920
Speaker 1: that Cash is involved. It's time you cleaned that that

765
00:41:35,040 --> 00:41:38,520
Speaker 1: rat's nest. Let's start early. He's gonna get confirmed. They're

766
00:41:38,560 --> 00:41:41,279
Speaker 1: doing everything. This is what happens when they delay. I

767
00:41:41,360 --> 00:41:42,800
Speaker 1: said this is going to happen when they did the

768
00:41:43,280 --> 00:41:44,920
Speaker 1: getting rid of the FBI guys. I know it had

769
00:41:44,960 --> 00:41:47,359
Speaker 1: to be done then, but I would have waited until

770
00:41:47,400 --> 00:41:50,480
Speaker 1: Cash got his committee hearing, because they're trying to slow

771
00:41:50,520 --> 00:41:52,600
Speaker 1: walk home. Remember they're saying they're not going to take

772
00:41:53,160 --> 00:41:54,839
Speaker 1: him to the floor to the end of the month.

773
00:41:55,760 --> 00:41:57,960
Speaker 1: We need you at the ramp parts. We don't need

774
00:41:58,040 --> 00:42:01,560
Speaker 1: you any more anxiou than you already are. Home title

775
00:42:01,600 --> 00:42:04,920
Speaker 1: lock dot Com and home title dock dot Com Steve

776
00:42:05,040 --> 00:42:08,520
Speaker 1: twenty five. They get the triple lock protection. It's twenty

777
00:42:08,560 --> 00:42:12,000
Speaker 1: four to seven coverage. It sends an alert in the

778
00:42:12,040 --> 00:42:16,160
Speaker 1: middle of the night, and if something happens, they've got

779
00:42:16,239 --> 00:42:21,600
Speaker 1: a million dollar guaranteed restoration product that will support you.

780
00:42:22,280 --> 00:42:24,160
Speaker 1: So go check it out today. Make sure you understand

781
00:42:24,160 --> 00:42:26,239
Speaker 1: all the details. They give you full access to talk

782
00:42:26,280 --> 00:42:31,719
Speaker 1: to everybody. Don't let either a nonstate actor or maybe

783
00:42:31,760 --> 00:42:33,279
Speaker 1: even some of you know. There's so many different ways

784
00:42:33,320 --> 00:42:35,839
Speaker 1: to get into your title. That title is the only

785
00:42:35,960 --> 00:42:44,200
Speaker 1: contractual materialization, manifestation of your ownership of that real asset

786
00:42:44,440 --> 00:42:46,719
Speaker 1: called a home. So check it out to day home

787
00:42:46,840 --> 00:42:51,279
Speaker 1: title lock dot com. Steve twenty five, go check it out.

788
00:42:53,600 --> 00:42:58,719
Speaker 1: Cash Patel. Cash is taking some incoming. They've gone through

789
00:42:58,719 --> 00:43:01,880
Speaker 1: his financial statements, all my stuff. It's actually a film

790
00:43:01,920 --> 00:43:03,960
Speaker 1: I was involved in. I want to talk to my producer.

791
00:43:03,960 --> 00:43:07,080
Speaker 1: I didn't get paid, but somehow with Cash I think

792
00:43:07,200 --> 00:43:09,480
Speaker 1: was actually a producer of it, so I forgive him.

793
00:43:10,080 --> 00:43:10,200
Speaker 4: Uh.

794
00:43:10,360 --> 00:43:12,400
Speaker 1: It was a you know, it was a film of

795
00:43:13,280 --> 00:43:15,320
Speaker 1: somebody I knew was doing and they were doing it

796
00:43:15,400 --> 00:43:18,960
Speaker 1: about you know, Trump's people, and you know, Trump's guy's

797
00:43:19,040 --> 00:43:21,680
Speaker 1: being rolled up by the by the deep state and

798
00:43:21,719 --> 00:43:23,520
Speaker 1: coming after us. I thought it was actually a very

799
00:43:23,560 --> 00:43:26,480
Speaker 1: good film. But they're picking on poor cash Ford. They're

800
00:43:26,480 --> 00:43:28,879
Speaker 1: trying to do everything stop Cash. They're not gonna stop Cash.

801
00:43:28,960 --> 00:43:31,160
Speaker 1: They're gonna tear their out, They're not gonna stop Tulsi

802
00:43:31,239 --> 00:43:33,080
Speaker 1: and they're not gonna stop Bobby Kenny. And that's gonna

803
00:43:33,080 --> 00:43:35,360
Speaker 1: be three huge wins. I think one of the reasons

804
00:43:35,440 --> 00:43:39,880
Speaker 1: that people saying, hey, finally we are you know, we

805
00:43:40,040 --> 00:43:42,240
Speaker 1: want President Trump. He's on a role Days of Thunder.

806
00:43:42,280 --> 00:43:44,720
Speaker 1: We're gonna play the complete Just from the Oval Office,

807
00:43:45,440 --> 00:43:49,080
Speaker 1: he had a he had a signing uh ceremony with

808
00:43:49,200 --> 00:43:52,040
Speaker 1: some eos. Elon was there. They answered some questions from

809
00:43:52,080 --> 00:43:54,320
Speaker 1: the media. President Trump then gave it to put a

810
00:43:54,320 --> 00:43:56,239
Speaker 1: little of flesh on the bone and Gaza, which is

811
00:43:56,360 --> 00:43:58,440
Speaker 1: very important. So we're gonna get to all that the

812
00:43:58,560 --> 00:44:01,120
Speaker 1: top of the hour Us of Roger Kimball. One of

813
00:44:01,120 --> 00:44:04,960
Speaker 1: the most important things President Trump has done. He's done

814
00:44:05,160 --> 00:44:08,320
Speaker 1: is to take over the Kennedy Center. That's high church

815
00:44:08,640 --> 00:44:16,400
Speaker 1: for the secular administrative in the atheistic deep state in Washington,

816
00:44:16,480 --> 00:44:19,080
Speaker 1: d C. So they're shattered. President Trump say he's gonna

817
00:44:19,120 --> 00:44:21,520
Speaker 1: put some big changes. He's got Rick Renell Grenelle's got

818
00:44:21,600 --> 00:44:25,239
Speaker 1: let's see interim Kennedy Center, and he's the interim head

819
00:44:25,320 --> 00:44:29,239
Speaker 1: of the LA because Rick's from LA of the the

820
00:44:29,320 --> 00:44:33,480
Speaker 1: revitalization of that. So he's got two pretty big jobs already.

821
00:44:33,680 --> 00:44:35,680
Speaker 1: And and good on you. I'm kind of glad that

822
00:44:35,880 --> 00:44:39,360
Speaker 1: Rick wasn't named. He's going to be ambassadors special envoy.

823
00:44:39,480 --> 00:44:41,160
Speaker 1: We need Rick here in the States. He's just doing

824
00:44:42,040 --> 00:44:44,400
Speaker 1: tremendous work. We just went through the math with you,

825
00:44:46,320 --> 00:44:48,040
Speaker 1: I R S. And President Trump is shouting down a

826
00:44:48,040 --> 00:44:50,480
Speaker 1: lot of the IRS agents. He's said they're going to

827
00:44:50,520 --> 00:44:54,200
Speaker 1: go online until they do that. Tax Network USA, particularly

828
00:44:54,200 --> 00:44:57,640
Speaker 1: if you o back taxes. Remember when you get the envelope,

829
00:44:58,400 --> 00:45:00,520
Speaker 1: don't put it in the drawer. In the draw is

830
00:45:00,560 --> 00:45:04,360
Speaker 1: not going away. Fees continue to run up, penalties continue

831
00:45:04,360 --> 00:45:06,880
Speaker 1: to run up, interest rates continue to run the interest

832
00:45:06,960 --> 00:45:10,520
Speaker 1: on it. It's it's like a cancer. It's metastasizing. You've

833
00:45:10,560 --> 00:45:11,880
Speaker 1: got to cut it out. How do you do that?

834
00:45:11,920 --> 00:45:13,640
Speaker 1: You either pick you open the letter and call the

835
00:45:13,680 --> 00:45:15,800
Speaker 1: number yourself, or before you call the number, you go

836
00:45:15,880 --> 00:45:19,799
Speaker 1: to Tax Network USA slash band and get a free consultation.

837
00:45:20,640 --> 00:45:23,160
Speaker 1: They'll tell you just bluntly, whether they can help you

838
00:45:23,239 --> 00:45:25,719
Speaker 1: or not. And if they can help you, take you know,

839
00:45:25,960 --> 00:45:29,120
Speaker 1: take the advice, get the details and sign them up.

840
00:45:29,960 --> 00:45:32,359
Speaker 1: Because you don't want to negotiate with the RS. Buy

841
00:45:32,400 --> 00:45:34,399
Speaker 1: your lonesome now. If they tell you not to, then

842
00:45:35,080 --> 00:45:37,680
Speaker 1: get on with it. But whatever you do, just don't

843
00:45:37,760 --> 00:45:42,120
Speaker 1: leave in the drawer. Not smart. Michael Lindal. We got

844
00:45:42,160 --> 00:45:44,640
Speaker 1: something from Mike Lindell. We don't have live Mike Lindell.

845
00:45:44,719 --> 00:45:47,000
Speaker 1: So we're gonna go to I think this is fantastic,

846
00:45:47,080 --> 00:45:48,239
Speaker 1: and we'll go ahead and play it and then we'll

847
00:45:48,280 --> 00:45:50,640
Speaker 1: come back to yours truly.

848
00:45:51,880 --> 00:45:54,560
Speaker 3: Hello, our run policy. Well, we're gonna keep it going.

849
00:45:55,120 --> 00:45:57,920
Speaker 3: The great special that you've all that you've all grabbed

850
00:45:57,960 --> 00:46:00,080
Speaker 3: a hold on that My pillow two point on if

851
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Speaker 3: you've never tried one. It is the best pillow ever made,

852
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Speaker 3: the most personal, your multi use my pillow with five

853
00:46:07,000 --> 00:46:09,960
Speaker 3: different pillow cases that go on it, and you've got God,

854
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Speaker 3: all things are possible. The American Flag. We've got five

855
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Speaker 3: different ones for nine to ninety eight. Because this is

856
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Speaker 3: a war room exclusive. Everybody the warroom collection. This is

857
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Speaker 3: once they're gone. They're gone. The one with me holding

858
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Speaker 3: the flag is almost gone. You got We're going to

859
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Speaker 3: put a limit of fifteen on them, so everybody gets

860
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Speaker 1: The Mike Lindell Okay, the right stuff, President Trump, Days

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Speaker 1: of Thunder. My only warning, your heads up is this

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Speaker 1: New York situation. Soros is gunning for Trump. He's got

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Speaker 1: two instruments, Alvin Bragg and Letitia James. They come after

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Speaker 1: administrative state, to destroy the deep state, to radically cut spending,

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Speaker 1: and to save his country. Short break, next hour, President

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Speaker 1: Donald Trump