April 7, 2025 • 48 mins
THE WAR ROOM WITH STEPHEN K. BANNON, APRIL 7TH, 2025
GUEST:
RAHEEM KASSAM
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Episode Transcript
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Speaker 1 (00:00):
It's an Asia plummeting overnight, the hang sang down more
than thirteen percent, Japan dropping about eight percent to an
eighteen month low. Earlier in the session, Japanese futures were
suspended after they hit circuit breakers. In Europe, stock trading
there also down.
Speaker 2 (00:15):
Across the board.
Speaker 1 (00:16):
You can see they've come off their worst levels. The
Dacks right now down by about five percent, the CAC
in France off by five and a half percent, the
Footsi in Italy, the Footsie MiB down by five point
eight percent. The best performer is the Footsy one hundred London,
which is down by four point three percent. Germany's jacks
again was down more than ten percent before it paired
some of those losses, so we'll continue to watch things there,
(00:38):
and then energy prices adding to last week's steep losses
as well. You're now looking at WTI below sixty dollars
a barrow, so fifty nine to eighty one. For the year,
it's down thirty one percent. I guess the upside, but
that is you're going to get cheaper.
Speaker 2 (00:51):
Prices at the pump.
Speaker 1 (00:52):
But all of this signaling the market's idea that we're
looking at much greater odds of a recession, not just
here but global.
Speaker 3 (01:00):
This was on the front page of Sunday Opinion, New
York Times, and this pretty much sums it up. The
world wakes up to a new global reality.
Speaker 2 (01:10):
The economy is deflating.
Speaker 3 (01:12):
Now, let's be very let's be very clear here, regardless
of how you feel about tariffs, this is a self
induced war that we started. All right, all right, this
is voluntary. I spent three months after the election warning
Republicans they needed to be careful.
Speaker 2 (01:35):
Three months. We've got about ten minutes eclipse.
Speaker 3 (01:38):
We could play you if you we've already done it before,
if I could play it again ten minutes a clipse,
saying be very careful. We have the strongest economy in
the world, but we have bubbles in the market, Suton market,
we have bubbles in crypto.
Speaker 2 (01:52):
We have a fiscal bubble.
Speaker 3 (01:54):
Be very careful, manage it wisely, and we will continue
to see working Amerias taken care of.
Speaker 2 (02:02):
That's not happening right now. So it's going to be
fascinating to see what happens this week. What's going to
happen this week with Republicans? Are they really republicans?
Speaker 3 (02:09):
By the way, Republicans in Congress have the power, have
the power.
Speaker 2 (02:17):
To stop it, to moderate it.
Speaker 3 (02:21):
The big certain countries that they think it's going too
far on like you know, there are some Republicans speaking out.
Speaker 2 (02:29):
Chuck Grassley has spoken out about it.
Speaker 3 (02:32):
Ben Shapiro says it's unconstitutional.
Speaker 2 (02:36):
Bill Ackman, Ah, he saw the light.
Speaker 4 (02:41):
I've spoken in many countries, say oh, what to do.
Just so you understand the power of what I'm doing.
Every country is calling it, being very solicitous of us,
very very nice. They're being very nice, and we have
to be able to justify.
Speaker 2 (02:58):
This is not sustainable.
Speaker 4 (03:00):
The United States can't lose one point nine trillion dollars
on trade.
Speaker 2 (03:05):
We can't do that.
Speaker 4 (03:06):
And also spend a lot of money on NATO in
order to protect European nations, we cover them with military.
Speaker 2 (03:13):
Then we lose money on trade. It's no. The whole
thing is crazy. And I got elected on that basis.
We explained it.
Speaker 4 (03:20):
You know, the American people understand it a lot better
than the media. But the media understands it, and much
of the media writes correctly about it.
Speaker 2 (03:29):
And I must say, I just want you to know
that when they're telling you this has to be done.
That's not true.
Speaker 3 (03:34):
And when they're telling you, these Republicans on the Hill,
we can't do any thing about it.
Speaker 2 (03:38):
Well, that's just a lie. It's double speaking.
Speaker 5 (03:41):
With that in mind, President Trump's tariffs have stock futures
plummeting again.
Speaker 2 (03:46):
This morning.
Speaker 5 (03:47):
The Dow is down more than eleven hundred points, while
the S and P five hundred and the NASDAC have both.
Speaker 2 (03:53):
Dropped by three percent.
Speaker 5 (03:55):
This follows a market free fall to end the trading week,
cap off by the Dow losing twenty two hundred points
on Friday. It was the first time that the index
had ever lost more than fifteen hundred points in back
to back days. The massive losses were also fueled by
China announcing on Friday it would impose a thirty four
(04:17):
percent tariff on all goods imported from the United States
beginning this Thursday. Meanwhile, President Trump continues to downplay the
tanking markets, writing on social media last night that his
tariffs are a beautiful thing to behold. They're pain in
the market.
Speaker 1 (04:37):
At some point, you're unwilling to tolerate this idea of
what Trump put there a.
Speaker 2 (04:41):
Threshold, I think your question should have so stupid.
Speaker 4 (04:44):
I mean, I think it's a I don't want anything
to go down, but sometimes you have to take benison
to fix something. And we have such a horrible we
have been treated so badly by other countries because we
had stupid leadership.
Speaker 2 (05:01):
That allowed this to happen.
Speaker 4 (05:02):
They took our businesses, they took our money, they took
our jobs. They moved it to Mexico, they moved it
to Canada, they moved.
Speaker 2 (05:09):
A lot of it to Gida. And it's not sustainable.
We're not going to do it now. We have hundreds
of millions of dollars.
Speaker 4 (05:16):
It's pouring into our country on a monthly basis. It's
for it's already started because they put tariff's on and
eventually it's going to straighten out and our country will
be solid and strong again.
Speaker 6 (05:28):
Look, let's Joe, let's just call this what it is.
And you got out of one is this is an
economic war of choice. This is not something that had
to happen. This is you know what football players would
call an own goal. Second of all, in the President,
I have the quote here he says, yes, sometimes you
have to take medicine to pick something. The problem was
the patient wasn't sick. This is economic this is economic malpractice.
Speaker 2 (05:50):
Let's call it for what it what it is.
Speaker 6 (05:53):
It's created problems rather than.
Speaker 2 (05:57):
Fix them.
Speaker 6 (05:57):
So when Scott Bessen goes out and he talks to
us from and to coins, of course you can't find
anybody who's going to support what is what is going on,
And then you know, the mixed signals make a bad
situation worse. So let's just let's just call it for
what it is. It's totally self created and the real
question is one, how do we get ourselves out of it?
(06:19):
But we shouldn't hit ourselves on another thing. Even if
there's a degree of economic recovery, someday there will be
in the markets, a lot of the damage here will
be lasting. The United States will not again ever have
the same reputation, the dollar won't have the same strength.
The rest of the world's willingness to tolerate American debt
will be much diminished. This will have lasting consequences. Even
(06:42):
if at some point what's become our three to ozho ones,
you know, it becomes a three point fifty one, Even
if it doesn't recover fully to four to oh one k,
Even if there's a degree of financial recovery. The reputational
cost of this will be deep and lasting, longing.
Speaker 2 (06:57):
We're all trying to understand.
Speaker 3 (06:58):
Is then, if there are going to negotiations and you're
saying zero is not enough.
Speaker 2 (07:03):
What is enough? Zero is a small first start? Okay,
what is enough? And let me ask you, but relate
it to them.
Speaker 7 (07:10):
But let me answer that question. Let me answer. Let's
take them one at a time. We got plenty of time,
So what is enough? Okay, you take any given country.
They are like fingerprints. They all cheat us in a
different way. So here are the things they cheat us on.
Some of them engage in currency manipulation. Some of them
have a hefty vattex. All of them bump into our markets.
All of them engage in heavy export subsidies and government subsidies.
(07:34):
All of them put up these phony technical and fido
sanitary barriers to our ad products and our autos and
everything in between. Many of them steal our intellectual property.
A lot of them runs sweatshop labor, including forced child labor.
They have pollution havens. So when you say to me, Ed,
what do we want from them? We want fairness. We
(07:57):
don't want them to kill American works by ending data
is with this non tariff cheating, and it would be
really refreshing to have the media talk more about that
this zero tariff things.
Speaker 2 (08:12):
It's a misdirection. No, it's a misdirection.
Speaker 4 (08:16):
How could have spoken when they look at the fact
that we have a billion dollar trade deficit. When you
look at the trade deficit that we have with certain countries.
Speaker 2 (08:28):
Way over a billion per country.
Speaker 4 (08:30):
With China, it's a trillion dollars, and we have to
solve our trade deficit. We have a trillion dollar trade
deficit with China. Hundreds of billions of dollars a year
we live with China, and unless we solve that problem,
I'm not going to make a deal now. I'm willing
to deal with China, but they have to solve their surplus.
We have a tremendous deficit problem with China. They have
(08:54):
a surplus of at least a trillion dollars a year.
I think it's like a treellion one and I want
that solved. And no other president's taking it on. I
had to take it on the last time that we
had a raked election. No other president is taking it on.
And so China is you know they say the market's spoken.
(09:15):
The market China is right there taking a big hit
because everyone knows we're right.
Speaker 2 (09:21):
They have to pay.
Speaker 4 (09:22):
Tariffs because otherwise we have a surpplus that they have
a surpplus with us that is not sustainable. And we're
talking about a trillion dollars.
Speaker 2 (09:32):
You know that, right.
Speaker 8 (09:34):
We're not going to.
Speaker 4 (09:34):
Lose the trillion dollars for the privilege of five pencils
from China.
Speaker 2 (09:41):
This is the primal screen of a dining regime.
Speaker 9 (09:46):
Pray for our enemies because we're going to medieval on
these people.
Speaker 2 (09:51):
You've not got a free shot. All these networks lying
about the people. The people have had a belly full
of it. I know you don't like hearing that. I
know you try to do everything will to stop that,
but you're not going to stop it. It's going to happen.
Speaker 10 (10:02):
And where do people like that go to share the
big line?
Speaker 2 (10:06):
Mega media?
Speaker 11 (10:07):
I wish in my soul, I wish that any of
these people had a conscience.
Speaker 2 (10:13):
Ask yourself, what is my task and what is my purpose?
Speaker 4 (10:16):
If that answer is to save my country, this country
will be saved.
Speaker 8 (10:23):
War Room, use your hosts.
Speaker 2 (10:25):
Stephen k that.
Speaker 9 (10:33):
Monday seven April year of oldlerd twenty twenty five. So
to give this to you in real time and to
make sure that we can frame this so the war
room posse can have a full and deep understanding of
exactly what's happening. So last night, over the weekend, President
Trump intransigent about any movement at all, even any no negotiations.
(10:58):
It dug in in a hard no negotiations because remember
the trigger on the tariffs is on Wednesday. That's when
actually the reciprocity starts. It's over the weekend. A lot
of effort and discussion about setting up a process because
you have, as people are tweeting out right now, you
have fifty I don't know, maybe almost one hundred countries.
(11:21):
And when I say the fifty, I mean all the
big ones except the CCP are lined up. I just
got are lined up perfect. Thank you are lined up
to come in and negotiate. And President Trump said, all
we can know, negotiations, We're not doing this. The issue
(11:44):
for President Trump is quite simple. You are in control
of this process right now. You're taking incoming calls and
proposals and ideas, but you're in charge of this proposal
or you're in charge of this process. What you want
to avoid is remember on the show I've been talking
about for the last couple of years, we have three
hundred trillion dollars in global debt at every level, and
(12:05):
you have to avoid having a global margin call. Margin
calls when the assets you own, whether real estate or stocks,
start to drop in value and the bank comes back
to you and say, hey, we need a little something
else on top of what you gave us. You've got
to plug it or we're going to call your loan.
That's called a margin call. Margin call in the situation
(12:28):
would be at the hedge fund level. For the hedge
funds to start having. You know, it's particularly some of
these smaller midsized hedge funds. When I say small, I
mean hedge funds are ten and twenty billion dollars today's
market that are highly leveraged, making highly leveraged bets. Remember
that from two thousand and eight, Well you still got today.
Those start having margin calls, some of these banks start
(12:51):
having what we call a credit event. You've already seen
in Europe some of these overleveraged companies are already starting
to have problems. Once you start having credit events, maybe
the process gets out of your hand, President Trump. Also
the coming at President Trump from the courts. Jonathan carl
Is reporting this morning over at I Guess with George
Stephanopolis that he has been informed that conservative groups, certain
(13:15):
conservative groups are looking to go to court to try
to get a tro against President Trump. Some are arguing
that President Trump's emergency calling this in for emergency for
Fetanahl and national security, that now he's talking about deals
and he's talking about money, he starting about jobs, goes outside.
Speaker 2 (13:32):
Of that, he's being hit.
Speaker 9 (13:35):
Feder Reserve has now emergency meeting at eleven thirty am
this morning. President Trump. They're coming at him from many
different angles. The Nasdak is now up one percent. The
Dow is down about nine thirty but last night when
trading on futures started, the Dow is down fifteen hundred points.
Speaker 2 (13:53):
It looks like it's gonna be a total and complete meltdown.
Speaker 9 (13:56):
The Asian markets were a meltdown, particularly the hang saying,
which is Kong China is in a total and complete
meltone right now. The people that financed all the factories
and all the jobs going over sees, they're in a
big hurt, right now the people that did this to
us are in a big hurt and President Trump has
(14:17):
taken a tough stance, however, and I think this is
the reason the Nasdaq has flipped around. The Japanese have
announced that they're coming, and they're coming with a proposal
that would take care of all of President Trump's concerns,
including what Peter Navara is talking about, a non Trey Burris,
which is the key. And President Trump just tweeted out
(14:37):
a moment ago put up on Truth that a negotiating
is first time he used the word negotiating in a
Truth social We're going to take a short commercial break.
Speaker 2 (14:47):
There's a lot going on in the world today and
we're going to help explain it all to you here
in the war room. Just back in a moment in America.
Speaker 8 (15:00):
Use your host, Stephen came back.
Speaker 9 (15:05):
Okay, So starting last night at about six pm, this
was on Sunday, when President Trump got ready to head
back to Washington, d C. And he had the Secretary
of Treasury, that is I want to give a hat
tip to the brilliant team I have here at the
war room, my young charges. Also the team in Denver,
the great team at Real America's voice of putting together.
That was a magnificent cold open that gave you, in
(15:27):
about nine or ten minutes exactly the most important things
that happened on the weekend in capital markets the established order,
and this was led by Jim Kramer all weekend, but
particularly last night. We're talking they wanted to see black Monday.
Jim Kramer came out and said once again, and this
(15:48):
is if we can tee up and get ready his
two thousand and eight remember two thousand and eight, and
this is why we played it a couple of times
on Friday and Saturday. Kramer went on The Today Show
in two thousand and eight on that Monday and said,
if you have to, if you have to, if you
need cash in the next five years, you need to
sell everything today. If you need cash in the next
(16:09):
five years, you need to sell everything today. That exacerbated
of a panic that was already out there. This is
about orderly versus disorderly. This is about orderly versus disorder.
So far, you've seen an orderly kind of a workthrough
of what this new economic order is going to because
the United States is not going to be picked off anymore.
(16:30):
You just heard Has from the Council on Foreign Relations,
Richard Has saying, the patient's not sick. We'll brow for
the Council off our relation and all the elites in
New York City and the Upper East Side and the Hamptons.
It's not bad because on borrowed money, you've got your
own hedge fund, right, you got the United States government
putting a Keynesian massive influx of stimulus.
Speaker 2 (16:54):
All the time.
Speaker 9 (16:55):
You own all the real assets, you own the real estate,
you guys own all the stocks. Of course, it's good time.
It's the best time to be part of the global elites.
That's what President Trump is changing fundamentally. Last night at
six o'clock, what happens in basically the Tokyo opens and
then the search rolling through the Asian markets actually get Shanghai,
you get Hong Kong.
Speaker 2 (17:14):
And then you get Singapore.
Speaker 9 (17:16):
At the same time, they start trading future so you
can get a sense of where the Dow journal is
going to be. It was fifteen hundred at the open
last night on the futures market, so it looked like
another brutal day right at the start, and all night
it kind of hung in there and President Trump on
the plane back. And that's the brain cuts my staff
did for President Trump. Hey, sounds like a personal problem.
(17:38):
I'm dug in here. And of course you had a
country after country and company after company saying, hey, we
want to come in and talk. Maybe we don't understand
the formula, but we understand this. There's a problem. And
guess what, You're not going to tolerate it anymore. And
this kind of hammer blow to the system, this traumatic
blow to the system, which is what President Trump's been
(17:59):
doing national security. This is what the Russian rap pro
jaman is about. This is what the whole situation when
NATO's about. This is about setting up an order of
which we're a hemispheric defense. Right by the way, Raheem's
going to be here at the bottom of the hour.
He's heading out with Pete heggs at today and guess
where they're going. They're going to Panama because President Trump
(18:19):
is quite serious and JD advanced to Greenland last week.
He sent his Secretary Defense coming back from the Three
Island chains, remember Hawaii, Guam, in Philippines, in Japan, the
three island chains. He's now down and guess where he's going.
He's going to Panama, all because of hemispheric defense, all
because of this massive pivot by the United States geopolitically
(18:43):
and geostrategically. This is also the geoeconomic side. Remember my
talk at SEAPAC in twenty seventeen. The three lines of work.
Number one are America first national security policy. Number two
is economic nationalism, and number three, wait for it, is
deconstruction of the administrative state. President Trump is so far
(19:05):
down the route of all three of them, the most
significant changes in the world I think.
Speaker 2 (19:12):
Since World War Two.
Speaker 9 (19:13):
I may even go back to pre the Guns of
August in nineteen fourteen. This is a major, major, major reset.
It really ends World War two is what he's doing.
And he's not going to budget this now the big
change and the reason that the Dow is now only down.
Speaker 2 (19:31):
What's the Dow down?
Speaker 9 (19:32):
Dal's only down like nine hundred, The Nasdaq is up,
the S and P is up. Oh excuse me, the
Dow is up two hundred fifty points last check. Now
it's going to bounce around. We're not gauging everything just
by how it moves. Right, Things are going to bounce around.
But the point is, at least at the start, it's
not the meltdown that Jim Kramer and all the left wanted.
(19:54):
They wanted panic today. They wanted absolute selling with no buyers.
They want to trigger a margin call that would then
trigger a credit event that would then try to they
would use that to attempt to destroy President Trump. That
would be disorderly right now. This is quite orderly of
just a kind of a workthrough of people's positions. And
guess what for everything people that said President Trump was compromised,
(20:15):
and that Elon Mosk and the tech bros, all the
people in all the reports that it's Bannon in these
economic nationalists versus the tech bros. And they're going to
be the hammer blow is to the mag seven. The
two people that have He's given the biggest hammer blow
to are kind of this this phony tech broleogarchs right
in the Chinese Commuists party, the Chinese Commedist Party, maybe
(20:38):
having a death blow right now, maybe having a death
blow right now. Their economy was just on the on
the bubble as it is and u and it's totally export.
There's all kind of happy talk. Are they're going to
change your consumer economy. They don't have time to change
your consumer economy. They've tried that for seven or eight years.
This is everything, and President Trump came in with a
hammer blow to them. They don't even know how to
(21:00):
respond right now. Their response, by the way, maybe military
intervention into Taiwan. That is why those exercises last week
are not joked. This is why the Korean situation of
the coupded Tan Korea. That now the conservative president is out.
This is all playing into it. And you have to
stand by because right now she may have to pivot
(21:20):
to something like ultranationalism to jack up the young people
in college that hey, the feign devils are trying to
destroy us economically. The two people taking the biggest hammer
blows are the tech olar garks, the tech ola garks
and their stocks. Trump's come right after it, and this
is why there's some great tweets out overnight. The difference
(21:41):
is that these guys are globalists. I mean Elon Musk
showed it over the weekend. It was so embarrassing. I
didn't want to play it. Peter Navarro though, just call him.
I says nothing but a car salesman, but he put up.
He talks to Salvini and the guys at the Northern
League on a video talk he gave it their big
conference in the head of Q and A.
Speaker 2 (22:00):
It was embarrassing.
Speaker 9 (22:02):
You know, I've been saying, hey, he's a globalist, and
you know, I know the fanboys don't want to hear that.
But what he said last night in the middle of
the war that President Trump has in the defining moment
when you have to lock in and lock down, he
comes out and says he wants basically a no tarior
zone between the EU and the United States. He essentially
(22:22):
wants the America to merge in or to after Britain brexited,
he wants us to merge with the EU. But the
worst comment was about and this is the mentality, was
about having European citizens.
Speaker 2 (22:35):
Get come to the United States unfettered.
Speaker 9 (22:37):
It'd be like send gen It'd be like illegal alien
gets through to Hungary. Then you can go all the
work gets through to Italy or Greece, and you can
go all the way to Ireland. He actually proposed that.
And then this morning he's tweeting out He's tweeting out
Milton Freeman's video on the pencil. Stop humiliating yourself. Okay,
(22:57):
this is childless nonsense. Trump is in a war, and
it's a man's war. And I don't mean that about gender.
I mean this is for people who are tough for
need to step into this moment. President Trump is saying, Hey,
the economic order that basically stripped America over manufacturing, based
the economic order that the entire world was dependent upon
(23:19):
working men and women in the middle class in this country,
in the United States of America, and that every person
gained the system.
Speaker 2 (23:26):
It's all getting unmasked.
Speaker 9 (23:28):
Now, why is this turned around in real time in
about twenty minutes. And I'm not saying this will last.
I think you have market movements over the next couple
of days. But why did we not start at Black Monday?
Right last night at six o'clock, it looked like this
is going to be catastrophic. The New York Post lead
story was Black Monday. Jim Kramer, Black Monday's coming. You
got to dump everything. Because President Trump puts this tweet,
(23:52):
we can put it up for a moment. The Japanese,
so you should understand, every nation on Earth has been
trying to get here to see President Trump to talk
about this, but he said no negotiations. Now you have
to say, well, can't people come at least make their pitch.
You know, some people may have a question about the formula, right,
the formula, how you derive this? Peter Navarre was quite
(24:14):
blunt on TV over the weekend. This morning, Peter Nomorrow said, Hey,
this is just not about tariffs, the actual number. It's
about non trade barriers, currency manipulation, counterfeiting, the non tariff
barriers you put into block American goods.
Speaker 2 (24:28):
And this is why if you look throughout the world, you.
Speaker 9 (24:30):
Don't see a ton of American goods sold overseas. You
go to Japan, agree, you never see an American car.
You don't see a lot of industrial product product. We're
to look now as a capital market and a provider
of natural resources and a consumer market. President Trump is
one million percent correct. You cannot continuate. It's not sustainable.
(24:51):
The only way it's been sustainable to date. What people said, well,
sive the economy so good is because you're running two
tradion dollar deficits every year. This is so obvious, it's
so simple, and it's not sustainable.
Speaker 2 (25:05):
The trade devisit.
Speaker 9 (25:06):
President Trump is talking about the tree and dollars that's annual,
the accumulative just like we have thirty seven trillion dollars
of debt, and we're adding a trillion dollars every hundred days.
And the freaking budget the Senate in the House puts
out has four and five tradion dollars increases to the
debt ceiling. So they're not real about actually doing what
men and women have to do is start to cut
(25:26):
this federal budget. It's unsustainable and it's just creating fiat
currency by the Federal Reserve to play to do the
fiscal irresponsible thing. And part of that is a defense
budget that's now over a trillion dollars to underwrite the
security of all these nations on the earth. It can't continue.
President Trump's not saying it can't continue. And this is
(25:48):
what is the only question for President Trump is not
that we are right in fighting the fight of the righteous,
is how do you manage the process? How do you
manage president you don't want the process? Gary Today, Jonathan
Carr reported it. They're going to go into court to
these judges to look for a tro You heard Ben
Shapiir and these guys say it up on the hill.
(26:09):
It's not Ted Cruz. Ted Cruise is virtually irrelevant. Who's
relevant to Steve Danes. Steve Danes, who's had a career
in Hong Kong and in China, is leading out their
seven senators against Trump right now on the record, including
Tom Tillis folks in North Carolina. Steve Danes may lead
out another five to ten senators. The United States Senate,
(26:31):
led by the Republicans may try to intervene here and
take the power away from President Trump. Everything's on the
table right now. The key is that the Japanese are
in route. And what did President Trump say? He used
the negotiation. He said they're coming over to negotiate. It's
the first time that word has crossed the lips of
(26:53):
Donald John Trump.
Speaker 2 (26:55):
That is the pivot in the market this morning shortbreak.
Speaker 8 (26:59):
Who's your hoos, Stephen k.
Speaker 2 (27:06):
Okay, Marcus bouncing around.
Speaker 9 (27:07):
It's being attributed to a Kevin Hassett quote that they
can't quite verify. I think CNBC put it up that
Kevin has it said there'd be a ninety day pause
to celebrity here and negotiate.
Speaker 2 (27:20):
Now they're saying the White House is saying that's not true.
Speaker 9 (27:22):
They can't find the verification of that, and so the
markets bounce around here's the point. At the very mention
there's a process, you're going to get back two thirds
of the value loss, just saying at the very mention
of a process you're going to this is all about
people are looking at a process.
Speaker 2 (27:39):
What's going to try to mess up that process?
Speaker 9 (27:41):
Federal Reserves meeting a secret and not a secret, a
closed door meeting of the governors. At eleven thirty, Jonathan
Carlve ABC is reporting pretty well, how to say the
sourced that I believe its conservative groups are coming at
to go into legal things. Federal society are think of
(28:02):
going to court today with certain of these attacks, and
trade organizations are lobbyist groups and are looking to go
into court today to get a tro on President Trump
to stop this for tro Also, people are thinking of
going to court today to question the constitutionality of it.
Also Steve Danes and others Now Danes hasn't public he committed.
(28:22):
There's been seven already a public committed, including Tom Tillis
has public he committed to getting President Trump to back
off this. My understanding of Steve Danes is leading an
effort with another five or ten senators.
Speaker 2 (28:37):
Behind the scenes, they're saying.
Speaker 9 (28:38):
They're prepared to publicly come out and basically go against
President Trump and slow this down once again. People are
looking at the courts to try to thwart this and
or Rhino Republicans.
Speaker 2 (28:49):
President Trump is dug in.
Speaker 9 (28:51):
He did say he put this out about negotiate that
the Japanese are sending a team over in. Japan's one
of the thornians. Korea is going to be quite thorn
places like Vietnam. You heard Peter Navara. Peter Navara said,
it's just not the monitor, it's just not the listed
rate of the tariff. It's also the non tariff barriers.
And for Indian places like this, that could get quite
(29:12):
quite sticky and and quite complicated. But there are also
ways to get around that if you still have a
trade deficit, because remember the formula quote unquote is really
based upon predict upon trade deficits. A face amount of
our debt is thirty seven trillion dollars going to thirty eight.
(29:32):
The trade deficit cumulative aggregate is about twenty five trillion
dollars eighteen. Trade of that has come from what China
was granted most favored nation in wto sanctioned to become
actually a true trading partner, although in the category.
Speaker 2 (29:49):
Of a developing nation, which they've never loved. You know,
at the World Bank, they go to the developing nation window.
Speaker 9 (29:55):
Every institution that the global set up was to make
it easier for China. Why that's where they made the
real money and shipping off. The people you see getting
hammered today are people that are financially tied to that.
Let me repeat this, the people getting hammered are the
people financially tied to shipping all the jobs to China.
President Trump, and for all the happy talking kind of missed.
(30:18):
For those ever questioned President Trump being a populist and
an economic nationalist, I hope the last of four or
five days have shown that President Trump is dug in
on your side, the forgotten man and woman. He has
put a full shotgun blast onto the Chinese Communist Party,
full on fifty four percent tariffs. They can't exist, it's
(30:39):
not sustainable. They will collapse. He's also going after the
Max seven, that's the seven stocks, the tech stocks that
were kind of frothy.
Speaker 2 (30:47):
And this is why the Dow joone adjuster.
Speaker 9 (30:49):
I keep telling people it doesn't show the real economy
because all tied to AI.
Speaker 2 (30:54):
Those are the ones, the Max.
Speaker 9 (30:55):
Seven and other big tech oligarchs globalist corporations have taken
in the biggest hits, and President Trump is adamant. Either
you're going to bring your manufacturing back here and really
with the ecosystem of your supply chains right your supply chains,
or or we're.
Speaker 2 (31:15):
Going to We're going to You're going to have high
terrorists you have to come in on, so you've got
to deal with them.
Speaker 9 (31:20):
Either get the money through tariffs, or we're going to
get the money through increased tax revenue of people of
corporations putting their plant and equipment here in hire. Obviously
tax revenue coming off citizens of this country. Now, while
all this is going on geo economically, and we're going
to walk you through the entire day, taking deep breath,
President Trump's in control process. The only issue we have
(31:44):
with President Trump and the path he's going down now
he controls the process the moment, and that can happen
the moment that he doesn't control the process. And I'm
less concerned right now with a court challenge, of course
they're going to try to tie Trump up, or a
political challenge coming from the rhinos in the Senate. The
bigger issue to me is something like a margin call
(32:06):
and a credit event that all of a sudden things
start to spin where you just can't control them. And
that's why you've got to be very careful in this.
I know President Trump is monitoring it with his team
of Scott Bessant and the people over at the Treasury,
and also Peter Navarre. But Peter Navara is out there
and Peter Navarro talking for President Trump ain't backing down
an inch the others geopolitically. And this is critical because
(32:29):
the trade deficit and the debt is in our inextricuary linked.
They're kind of two sides of the same coin, and
that is America spread out over Hell's half Acre and
everybody taking advantage of us. Now the massive pivot that
President Trump has had, because you think about it, we're
not going to be spending the money on defending Western
Europe or the Golf Emirates or even around the South
(32:50):
China See. Eventually this is all going to go back
to hemispheric a hemispheric.
Speaker 2 (32:54):
Defense, not that those those areas are not important.
Speaker 9 (32:58):
And quite frankly, the South China See and around Taiwan,
whether they have those chip plants is vitally important to
our economy.
Speaker 2 (33:04):
Whether you like it or not, whether you take the high.
Speaker 9 (33:06):
Moral ground that Taiwan's independent, you just say, hey, I
don't care, and we're never going to defend them.
Speaker 2 (33:13):
The geopolitical pivot is.
Speaker 9 (33:15):
Monumental, and he's saying, we're going to go back to
the Monroe doctrine two point zero. We're basically going and
part of that's manifest destiny. And here it is the
pivot of the world is not the Eurasian land mass.
It is not Mackinder's. Whoever controls the Eurasian land mass
controls the world. He's saying, the pivot for the United
States of America is the vast Pacific. Okay, starting at
(33:38):
those three island chains, that vast Pacific that is a
natural barrier to the Eurasian land mass and protects the
United States if you look on its east coast. What
you have to do is go from Greenland all the
way to the Panama Canal. You go from Greenland to
the Panama Canal, You take the Panama Canal, you work
out something with Greenland, You establish naval bases there, particularly
(34:00):
submarine bases. You've blocked the Russian navy from the Arctic.
You actually have a play then to make sure that China,
the CCP and the Russians can't come at you through
the Arctic. In addition, you clean out the CCP in
the Caribbean, which has been absolutely horrific and setting ourselves
up for another Cuban missile crisis around Cuba or.
Speaker 2 (34:20):
Bahamas is one of these other locations.
Speaker 9 (34:22):
With the CCPs all over, you control the Panama Canal
and the CCP's navy goes back past the three island chains.
And Bob's your uncle today Pete Hagsath And remember Pete
started his tour by doing what flying over the vast Pacific,
which is the heartland of the United States, strategically to
(34:42):
Hawaii the third island chain, then to Guam the second
island chain, and then to the Philippines in Japan the
first island chain. Today, the Secretary of Defense will leave
early this afternoon and go where he will go to
Panama after jd vance. The Vice President I State with
Walts and then as security Guiser last week went to
(35:03):
where Greenland. Today going with him is our own Raheem Cassam.
Raheem put it in perspective. How important is this The
Secretary of Defense is actually going down to begin the
process of our reclaiming the Panama Canal from the Chinese
companist party.
Speaker 12 (35:19):
Sir, Yeah, thanks Steve, thanks for having me, and be
shortly leaving here for Andrew's Air Force Base. We'll be
traveling with the Secretary of Defense over there to Panama.
Speaker 10 (35:29):
He has a packed out schedule over.
Speaker 12 (35:31):
The next three days, and I'll be bringing coverage live
on all social media platforms and on the national Pulse
for it. And it really revolves around exactly what you're
talking about, right, It's been a long time since we've
seen an assertion of American strength, manifest destiny, the idea
that you can actually, like JD. Vonn said early on
(35:52):
in the administration, do things unlike the Obama administration, unlike
the Biden administration. And it's critical because it fits not
just in fact, it doesn't even fit this current administration
and its next three to four years. What it is,
it's about the future of American security, it's about the
future of shipping, it's about the future of US military
(36:14):
and power projection. And this is not the first step,
as you said, and it certainly won't be the last.
Speaker 10 (36:21):
Because what I.
Speaker 12 (36:22):
Intend to bring up with the Secretary today and tomorrow
along the trip is other American critical pivot points around
the world that have not just been left degraded over
time and abandoned almost by the previous administrations, but also
(36:43):
that are now currently in the process of being traded
away by America's so called allies. One of those, as
a lot of your audience knows, because I know Nigel
Faraj has been on this show to talk about it
in the past, are the Chegos Silence and Diego Garcia
being a critical base over there in the Indian Ocean,
and the British Labor government is in the well they
(37:07):
think the endgame of giving these islands away effectively to
the Chinese Communist Party. So there's a lot at stake
over the course of this trip, and there's a lot
that I intend to get out of the get out
of the Secretary of Defense along the next few days.
Speaker 2 (37:22):
A couple of things.
Speaker 9 (37:23):
Number one, and we're going to hold you through the
break here him because I've got a lot of questions
about this as we monitor the geoeconomics of this in Panama.
I mean, the thoughts are right now the CCP is
held up Larry fink In was it Blackstone or black
Rock actually purchasing from was it Lee? Kl Shang and
(37:44):
Hutchinson Wampoa. The entire Steve Adore operation are actually the
management of the ports, not the managemer of the locks.
The manager of the locks are with the Panamanium government.
And that's what I believe the United States will slide into.
But the docks themselves, the actual operation of taking cargo
on and off that has been blocked. Number two, you
(38:06):
have this whole issue of the Caribbean right what's got
to happen there is you know, you got Venezuela. But
most importantly you saw the weekend millions of people in
the streets in Brazil to support Bolsonar and and we'll
talk later about Lea Penn in the in the millions in.
Speaker 2 (38:22):
The street in Paris standing up for the Penn.
Speaker 9 (38:25):
But what you're there with, Pete, that whole geostrategy, like
what is our what is the methodology we're going to do?
Speaker 2 (38:32):
How important is this? Are we also going to block
the Darien gap? Barber down there? What does it mean
for the Caribbean?
Speaker 9 (38:37):
And why is no one in the US government to date,
standing up and vocally saying, hey, what's going on in
Brazil where they're trying to put Bolsonar in prison and
actually having assassinated We won't allow happen.
Speaker 2 (38:49):
Sir.
Speaker 10 (38:52):
Yeah, I mean, you know, the.
Speaker 12 (38:55):
Kind of the problem that you've laid out is and
I didn't if you might be saying this that you're
not in the administration.
Speaker 10 (39:02):
You know, there are.
Speaker 12 (39:03):
Very few characters in the world who could in a
sixty second thing like you just did pull all of
those things together. And this I know for a fact
that while this administration is doing as much as it
can do, a lot of this stuff is new to
a lot of the new actors in there. A lot
of the people that are now in these positions of
power have not necessarily been you know, banning babies for
(39:26):
the last ten to fifteen years and heard all of
these arguments and understand this, and they're getting to grips
with it right now. I hear that stuff all the time,
and people reach out to me all the time.
Speaker 10 (39:36):
It's like, Okay, yeah, what do we do here? What
are we paying attention to do there?
Speaker 12 (39:39):
What's going on with the pen All of this stuff
and as you know, in the coming up of government,
it's one thing then to understand it.
Speaker 10 (39:47):
It's a totally other thing to act on it.
Speaker 12 (39:50):
And right now, you know, I don't mean this as
an insult in any way, but they're clearly still finding
their feet. I mean they're still clearly still finding personnel
and and if anything must be done between now and summer,
it's to finalize and fill all those positions, because you
actually don't have people who are willing to execute on
things like what's going on in Brazil, on things like
(40:12):
what's going on in France. And well, look, I think
the Vice President's team who I talked to quite often
have a very firm grasp of especially what's going on
in Europe. We saw that during the Paris and the
Munich trip. They can't do the work of the State
Department themselves from the VP's office. So we need we
need more talented people.
Speaker 10 (40:32):
Steve. We might have to get you at a Secretary
of State at.
Speaker 9 (40:34):
Some point, and I don't know, I got I got
a full time perchure. Now that you abandon me, raheem
to travel the world, We're gonna come back. We're going
to talk about dere Gersia, some other things.
Speaker 2 (40:46):
That go through with Raheem on a.
Speaker 9 (40:48):
Weekend of geopolitics and geoeconomics. We're in a live fire
exercise in world markets this morning in the war room.
Speaker 11 (40:58):
Since Trump has gotten back to White House, we are
seeing prominent Republicans in Congress directly criticize his actions.
Speaker 2 (41:05):
People as you heard, like Ted Cruz, like Rand Paul.
Speaker 11 (41:09):
In fact, I don't see many Republican leaders coming forward
to defend what Donald Trump has done.
Speaker 2 (41:16):
The reason here is simple.
Speaker 11 (41:17):
Trump is not just gambling with the American economy. Here,
he is putting Republican political fortunes at risk. We see
some of the biggest stock market declines since the Great Depression,
dire warnings of a recession of inflation, and not because
of outside forces like.
Speaker 2 (41:35):
A pandemic, but because of the.
Speaker 11 (41:37):
Direct actions of the Republican President. Rand Paul, for one,
is predicting dire consequences for his parties. For his party,
this goes forward, dire consequences.
Speaker 2 (41:47):
He says, that could take years to overcome. Some Republicans.
Speaker 4 (41:51):
Also the question whether the president has the legal authority
to impose these tariffs that he has imposed, and these
legal challenges are coming George.
Speaker 2 (41:58):
This is important. There will be legal.
Speaker 11 (42:01):
Challenges to these tariffs, possibly by the end of the week.
I spoke to a prominent Republican, a conservative legal figure
last night. This is somebody close to the President who
told me that he believes that the Supreme Court would
likely declare the president's actions unconstitutional. The issue here is
the authority he has cited that the Emergency Power Act
(42:24):
that he has cited does not explicitly give him the
right to impose tariffs. And also is the big question
is what is the emergency that he is solving in
imposing these tariffs.
Speaker 9 (42:37):
Okay, the important thing there, Rahim, is what Jonathan Carl's
reporting is about, quote unquote Conservatives and Republicans. A Republican
revolt in the Senate led by Ted Cruise, although Ted
Cruise is not really it's really Steve Danes and these
guys behind the scenes. You already got seven on the record,
and a prominent legal figure read Leonard Leo in the
(42:59):
Federal Society is going to come in because that's that
whole Milton Friedman crowd right that they're are coming for Trump.
Speaker 2 (43:07):
They're all coming for the economic naturist. They're going to
try to go to and think about it.
Speaker 9 (43:11):
They're going to go to the courts, and they helped
the Supreme Court bails them out.
Speaker 12 (43:15):
Your thoughts are, yeah, look, my initial reactions to all
of that is, you know, for the for the crowd
that's been screaming, you know, Fiat currency and audit, the
FED and all of this stuff, there's certainly very quick
to defend big corporate interest, which is nothing like the
(43:36):
you know, the in Ran novels that they keep tucked
in their beds with them every night. And and it's
it's not just hypocritical, it actually shows a strain of
deceit that still runs deep through the Republican central party
apparatus that I've talked about this for years now, but
(43:57):
we talked about it. What last week when we talked
about what's going on in the Republican Party of Texas.
You look at what's going on, by the way, in
the Republican Party of Florida at the moment where even
Governor DeSantis is having to fight off rhinos in his
state House who are attempting to stop him from making
any strategic reforms in the state.
Speaker 10 (44:17):
And the same thing is happening here on Capitol hill.
Speaker 12 (44:20):
Look, I know it's it doesn't even need saying, but
these people will revert to type.
Speaker 2 (44:26):
Why take a.
Speaker 12 (44:27):
Look at their FEC declarations, take a look at who
donates to their packs. You know, these are the same people,
and they're they're burning down the phone lines. They're not
your senators and congressmen, ladies and gentlemen, they're their senators
and congressmen. They're burning down the phone lines all weekend
to these people saying, hey, you get in there on
Monday and you stop this guy.
Speaker 10 (44:48):
You stop him ruining our monopoly.
Speaker 12 (44:50):
You stop him ruining our markets, in our wealth and
our richness. And listen, since two thousand and eight to
twenty twenty one, we have seen the largest wealth trans
was inhuman history. And the people who got not just rich,
not just wealthy, not just did well. They became obscenely, absurdly,
satanically wealthy.
Speaker 8 (45:11):
Greed.
Speaker 10 (45:12):
Greed is in their eyes and in their hearts.
Speaker 12 (45:15):
These are the people who are saying, hey, you know,
one of my billions is missing. Now I'm going to
need that back. And it's at a cost to you,
lady and gentlemen. It's a cost to the manufacturing base
of this country. It's at a cost to the nation's
own security, right the very fact that you are not
manufacturing things in this country. You are going to turn
out like the United Kingdom if you continue down this
(45:38):
road of having creating nothing and having nothing. And for
these people who sit half a mile down the street
from me in the Capitol to be doing the bidding
of these major corporates.
Speaker 10 (45:51):
Who are who are who are peeved.
Speaker 12 (45:53):
This Monday morning that they lost a couple or more
points on their stock valuations without recognizing, without realizing, and
without even paying heed to the fact that Donald J.
Trump walked onto that campaign stage, on that rally stage
every single day during the campaign, and he told people
he was going to do this, and he warned them
that tariffs were coming. Did they think he was joking?
(46:14):
Did they think it was a game. Well, now they're
finding out what it's like to be on the receiving
end of that game, and on the receiving end of
being treated like the Pool were treated during the market
crash in two thousand and eight, and like the Pool
were treated during COVID strip their money. Who cares about them? Well,
I got news for you. Who cares about you? Corporate America.
Speaker 9 (46:34):
The commodity prices are driving to all all the commodities,
so inflation that is going to I think dramatically decrease.
All this nonsense about the prices going up. I don't
think it's going to happen. Let's play your favorite person
stepped to the microphone to submit. Let's go ahead and
play this a raheem and have your commentary.
Speaker 13 (46:52):
We stand ready to negotiate with the United States. Indeed,
we have offered zero for zero tariff's for industrial goods.
We have successfully done with many other trading partners because
Europe is always ready for a good deal, so we keep.
Speaker 2 (47:07):
It on the table.
Speaker 13 (47:08):
But we are also prepared to respond through countermeasures and
defend our interests.
Speaker 2 (47:16):
Okay, right there at raheem.
Speaker 9 (47:18):
And by the way, it's the non tear of barriers
that they that the Germans particular this way, I see
no American cars in Europe. Raheem your response to the
head of the European Union.
Speaker 12 (47:29):
You know, just before I do that, do you know
what winds me up so much about this at a
personal level is that you know, my parents lost everything
in nineteen ninety two when George Soros short at the Pound,
and I lived firsthand what Americans have had to live
firsthand since two thousand and eight.
Speaker 10 (47:47):
Right, I've seen it. I've seen the look in my father's.
Speaker 12 (47:49):
Eyes, you know, going through that process of bankruptcy, of
losing everything, and suddenly you know, this man comes along
called Donald Trump, and he promises. He doesn't just say yes,
he pledges. He swears an oath. In fact, if anybody
forgot what he was going to do, what he said
he was going to do on the campaign trail, he
(48:10):
would enact as president of the United States in America's
national interests. And that's what he's doing. And I could
you know, I don't expect anything more from the Democrats.
Speaker 2 (48:19):
Go ahead, but hang on, just hang on.
Speaker 9 (48:22):
I know you get a bolt to Andrews, but I'm
gonna hold you through a ninety second break. As we
start our two Rahiem Kassam's with us. He's about to
head to Panama with the Secretary of Defense from Andrews
Air Force Base. Tom Fitten's going to join us right
efforts on a monumental historic Monday in the war room,
It's an Asia plummeting overnight, the hang sang down more
than thirteen percent, Japan dropping about eight percent to an
eighteen month low. Earlier in the session, Japanese futures were
suspended after they hit circuit breakers. In Europe, stock trading
there also down.
Speaker 2 (00:15):
Across the board.
Speaker 1 (00:16):
You can see they've come off their worst levels. The
Dacks right now down by about five percent, the CAC
in France off by five and a half percent, the
Footsi in Italy, the Footsie MiB down by five point
eight percent. The best performer is the Footsy one hundred London,
which is down by four point three percent. Germany's jacks
again was down more than ten percent before it paired
some of those losses, so we'll continue to watch things there,
(00:38):
and then energy prices adding to last week's steep losses
as well. You're now looking at WTI below sixty dollars
a barrow, so fifty nine to eighty one. For the year,
it's down thirty one percent. I guess the upside, but
that is you're going to get cheaper.
Speaker 2 (00:51):
Prices at the pump.
Speaker 1 (00:52):
But all of this signaling the market's idea that we're
looking at much greater odds of a recession, not just
here but global.
Speaker 3 (01:00):
This was on the front page of Sunday Opinion, New
York Times, and this pretty much sums it up. The
world wakes up to a new global reality.
Speaker 2 (01:10):
The economy is deflating.
Speaker 3 (01:12):
Now, let's be very let's be very clear here, regardless
of how you feel about tariffs, this is a self
induced war that we started. All right, all right, this
is voluntary. I spent three months after the election warning
Republicans they needed to be careful.
Speaker 2 (01:35):
Three months. We've got about ten minutes eclipse.
Speaker 3 (01:38):
We could play you if you we've already done it before,
if I could play it again ten minutes a clipse,
saying be very careful. We have the strongest economy in
the world, but we have bubbles in the market, Suton market,
we have bubbles in crypto.
Speaker 2 (01:52):
We have a fiscal bubble.
Speaker 3 (01:54):
Be very careful, manage it wisely, and we will continue
to see working Amerias taken care of.
Speaker 2 (02:02):
That's not happening right now. So it's going to be
fascinating to see what happens this week. What's going to
happen this week with Republicans? Are they really republicans?
Speaker 3 (02:09):
By the way, Republicans in Congress have the power, have
the power.
Speaker 2 (02:17):
To stop it, to moderate it.
Speaker 3 (02:21):
The big certain countries that they think it's going too
far on like you know, there are some Republicans speaking out.
Speaker 2 (02:29):
Chuck Grassley has spoken out about it.
Speaker 3 (02:32):
Ben Shapiro says it's unconstitutional.
Speaker 2 (02:36):
Bill Ackman, Ah, he saw the light.
Speaker 4 (02:41):
I've spoken in many countries, say oh, what to do.
Just so you understand the power of what I'm doing.
Every country is calling it, being very solicitous of us,
very very nice. They're being very nice, and we have
to be able to justify.
Speaker 2 (02:58):
This is not sustainable.
Speaker 4 (03:00):
The United States can't lose one point nine trillion dollars
on trade.
Speaker 2 (03:05):
We can't do that.
Speaker 4 (03:06):
And also spend a lot of money on NATO in
order to protect European nations, we cover them with military.
Speaker 2 (03:13):
Then we lose money on trade. It's no. The whole
thing is crazy. And I got elected on that basis.
We explained it.
Speaker 4 (03:20):
You know, the American people understand it a lot better
than the media. But the media understands it, and much
of the media writes correctly about it.
Speaker 2 (03:29):
And I must say, I just want you to know
that when they're telling you this has to be done.
That's not true.
Speaker 3 (03:34):
And when they're telling you, these Republicans on the Hill,
we can't do any thing about it.
Speaker 2 (03:38):
Well, that's just a lie. It's double speaking.
Speaker 5 (03:41):
With that in mind, President Trump's tariffs have stock futures
plummeting again.
Speaker 2 (03:46):
This morning.
Speaker 5 (03:47):
The Dow is down more than eleven hundred points, while
the S and P five hundred and the NASDAC have both.
Speaker 2 (03:53):
Dropped by three percent.
Speaker 5 (03:55):
This follows a market free fall to end the trading week,
cap off by the Dow losing twenty two hundred points
on Friday. It was the first time that the index
had ever lost more than fifteen hundred points in back
to back days. The massive losses were also fueled by
China announcing on Friday it would impose a thirty four
(04:17):
percent tariff on all goods imported from the United States
beginning this Thursday. Meanwhile, President Trump continues to downplay the
tanking markets, writing on social media last night that his
tariffs are a beautiful thing to behold. They're pain in
the market.
Speaker 1 (04:37):
At some point, you're unwilling to tolerate this idea of
what Trump put there a.
Speaker 2 (04:41):
Threshold, I think your question should have so stupid.
Speaker 4 (04:44):
I mean, I think it's a I don't want anything
to go down, but sometimes you have to take benison
to fix something. And we have such a horrible we
have been treated so badly by other countries because we
had stupid leadership.
Speaker 2 (05:01):
That allowed this to happen.
Speaker 4 (05:02):
They took our businesses, they took our money, they took
our jobs. They moved it to Mexico, they moved it
to Canada, they moved.
Speaker 2 (05:09):
A lot of it to Gida. And it's not sustainable.
We're not going to do it now. We have hundreds
of millions of dollars.
Speaker 4 (05:16):
It's pouring into our country on a monthly basis. It's
for it's already started because they put tariff's on and
eventually it's going to straighten out and our country will
be solid and strong again.
Speaker 6 (05:28):
Look, let's Joe, let's just call this what it is.
And you got out of one is this is an
economic war of choice. This is not something that had
to happen. This is you know what football players would
call an own goal. Second of all, in the President,
I have the quote here he says, yes, sometimes you
have to take medicine to pick something. The problem was
the patient wasn't sick. This is economic this is economic malpractice.
Speaker 2 (05:50):
Let's call it for what it what it is.
Speaker 6 (05:53):
It's created problems rather than.
Speaker 2 (05:57):
Fix them.
Speaker 6 (05:57):
So when Scott Bessen goes out and he talks to
us from and to coins, of course you can't find
anybody who's going to support what is what is going on,
And then you know, the mixed signals make a bad
situation worse. So let's just let's just call it for
what it is. It's totally self created and the real
question is one, how do we get ourselves out of it?
(06:19):
But we shouldn't hit ourselves on another thing. Even if
there's a degree of economic recovery, someday there will be
in the markets, a lot of the damage here will
be lasting. The United States will not again ever have
the same reputation, the dollar won't have the same strength.
The rest of the world's willingness to tolerate American debt
will be much diminished. This will have lasting consequences. Even
(06:42):
if at some point what's become our three to ozho ones,
you know, it becomes a three point fifty one, Even
if it doesn't recover fully to four to oh one k,
Even if there's a degree of financial recovery. The reputational
cost of this will be deep and lasting, longing.
Speaker 2 (06:57):
We're all trying to understand.
Speaker 3 (06:58):
Is then, if there are going to negotiations and you're
saying zero is not enough.
Speaker 2 (07:03):
What is enough? Zero is a small first start? Okay,
what is enough? And let me ask you, but relate
it to them.
Speaker 7 (07:10):
But let me answer that question. Let me answer. Let's
take them one at a time. We got plenty of time,
So what is enough? Okay, you take any given country.
They are like fingerprints. They all cheat us in a
different way. So here are the things they cheat us on.
Some of them engage in currency manipulation. Some of them
have a hefty vattex. All of them bump into our markets.
All of them engage in heavy export subsidies and government subsidies.
(07:34):
All of them put up these phony technical and fido
sanitary barriers to our ad products and our autos and
everything in between. Many of them steal our intellectual property.
A lot of them runs sweatshop labor, including forced child labor.
They have pollution havens. So when you say to me, Ed,
what do we want from them? We want fairness. We
(07:57):
don't want them to kill American works by ending data
is with this non tariff cheating, and it would be
really refreshing to have the media talk more about that
this zero tariff things.
Speaker 2 (08:12):
It's a misdirection. No, it's a misdirection.
Speaker 4 (08:16):
How could have spoken when they look at the fact
that we have a billion dollar trade deficit. When you
look at the trade deficit that we have with certain countries.
Speaker 2 (08:28):
Way over a billion per country.
Speaker 4 (08:30):
With China, it's a trillion dollars, and we have to
solve our trade deficit. We have a trillion dollar trade
deficit with China. Hundreds of billions of dollars a year
we live with China, and unless we solve that problem,
I'm not going to make a deal now. I'm willing
to deal with China, but they have to solve their surplus.
We have a tremendous deficit problem with China. They have
(08:54):
a surplus of at least a trillion dollars a year.
I think it's like a treellion one and I want
that solved. And no other president's taking it on. I
had to take it on the last time that we
had a raked election. No other president is taking it on.
And so China is you know they say the market's spoken.
(09:15):
The market China is right there taking a big hit
because everyone knows we're right.
Speaker 2 (09:21):
They have to pay.
Speaker 4 (09:22):
Tariffs because otherwise we have a surpplus that they have
a surpplus with us that is not sustainable. And we're
talking about a trillion dollars.
Speaker 2 (09:32):
You know that, right.
Speaker 8 (09:34):
We're not going to.
Speaker 4 (09:34):
Lose the trillion dollars for the privilege of five pencils
from China.
Speaker 2 (09:41):
This is the primal screen of a dining regime.
Speaker 9 (09:46):
Pray for our enemies because we're going to medieval on
these people.
Speaker 2 (09:51):
You've not got a free shot. All these networks lying
about the people. The people have had a belly full
of it. I know you don't like hearing that. I
know you try to do everything will to stop that,
but you're not going to stop it. It's going to happen.
Speaker 10 (10:02):
And where do people like that go to share the
big line?
Speaker 2 (10:06):
Mega media?
Speaker 11 (10:07):
I wish in my soul, I wish that any of
these people had a conscience.
Speaker 2 (10:13):
Ask yourself, what is my task and what is my purpose?
Speaker 4 (10:16):
If that answer is to save my country, this country
will be saved.
Speaker 8 (10:23):
War Room, use your hosts.
Speaker 2 (10:25):
Stephen k that.
Speaker 9 (10:33):
Monday seven April year of oldlerd twenty twenty five. So
to give this to you in real time and to
make sure that we can frame this so the war
room posse can have a full and deep understanding of
exactly what's happening. So last night, over the weekend, President
Trump intransigent about any movement at all, even any no negotiations.
(10:58):
It dug in in a hard no negotiations because remember
the trigger on the tariffs is on Wednesday. That's when
actually the reciprocity starts. It's over the weekend. A lot
of effort and discussion about setting up a process because
you have, as people are tweeting out right now, you
have fifty I don't know, maybe almost one hundred countries.
(11:21):
And when I say the fifty, I mean all the
big ones except the CCP are lined up. I just
got are lined up perfect. Thank you are lined up
to come in and negotiate. And President Trump said, all
we can know, negotiations, We're not doing this. The issue
(11:44):
for President Trump is quite simple. You are in control
of this process right now. You're taking incoming calls and
proposals and ideas, but you're in charge of this proposal
or you're in charge of this process. What you want
to avoid is remember on the show I've been talking
about for the last couple of years, we have three
hundred trillion dollars in global debt at every level, and
(12:05):
you have to avoid having a global margin call. Margin
calls when the assets you own, whether real estate or stocks,
start to drop in value and the bank comes back
to you and say, hey, we need a little something
else on top of what you gave us. You've got
to plug it or we're going to call your loan.
That's called a margin call. Margin call in the situation
(12:28):
would be at the hedge fund level. For the hedge
funds to start having. You know, it's particularly some of
these smaller midsized hedge funds. When I say small, I
mean hedge funds are ten and twenty billion dollars today's
market that are highly leveraged, making highly leveraged bets. Remember
that from two thousand and eight, Well you still got today.
Those start having margin calls, some of these banks start
(12:51):
having what we call a credit event. You've already seen
in Europe some of these overleveraged companies are already starting
to have problems. Once you start having credit events, maybe
the process gets out of your hand, President Trump. Also
the coming at President Trump from the courts. Jonathan carl
Is reporting this morning over at I Guess with George
Stephanopolis that he has been informed that conservative groups, certain
(13:15):
conservative groups are looking to go to court to try
to get a tro against President Trump. Some are arguing
that President Trump's emergency calling this in for emergency for
Fetanahl and national security, that now he's talking about deals
and he's talking about money, he starting about jobs, goes outside.
Speaker 2 (13:32):
Of that, he's being hit.
Speaker 9 (13:35):
Feder Reserve has now emergency meeting at eleven thirty am
this morning. President Trump. They're coming at him from many
different angles. The Nasdak is now up one percent. The
Dow is down about nine thirty but last night when
trading on futures started, the Dow is down fifteen hundred points.
Speaker 2 (13:53):
It looks like it's gonna be a total and complete meltdown.
Speaker 9 (13:56):
The Asian markets were a meltdown, particularly the hang saying,
which is Kong China is in a total and complete
meltone right now. The people that financed all the factories
and all the jobs going over sees, they're in a
big hurt, right now the people that did this to
us are in a big hurt and President Trump has
(14:17):
taken a tough stance, however, and I think this is
the reason the Nasdaq has flipped around. The Japanese have
announced that they're coming, and they're coming with a proposal
that would take care of all of President Trump's concerns,
including what Peter Navara is talking about, a non Trey Burris,
which is the key. And President Trump just tweeted out
(14:37):
a moment ago put up on Truth that a negotiating
is first time he used the word negotiating in a
Truth social We're going to take a short commercial break.
Speaker 2 (14:47):
There's a lot going on in the world today and
we're going to help explain it all to you here
in the war room. Just back in a moment in America.
Speaker 8 (15:00):
Use your host, Stephen came back.
Speaker 9 (15:05):
Okay, So starting last night at about six pm, this
was on Sunday, when President Trump got ready to head
back to Washington, d C. And he had the Secretary
of Treasury, that is I want to give a hat
tip to the brilliant team I have here at the
war room, my young charges. Also the team in Denver,
the great team at Real America's voice of putting together.
That was a magnificent cold open that gave you, in
(15:27):
about nine or ten minutes exactly the most important things
that happened on the weekend in capital markets the established order,
and this was led by Jim Kramer all weekend, but
particularly last night. We're talking they wanted to see black Monday.
Jim Kramer came out and said once again, and this
(15:48):
is if we can tee up and get ready his
two thousand and eight remember two thousand and eight, and
this is why we played it a couple of times
on Friday and Saturday. Kramer went on The Today Show
in two thousand and eight on that Monday and said,
if you have to, if you have to, if you
need cash in the next five years, you need to
sell everything today. If you need cash in the next
(16:09):
five years, you need to sell everything today. That exacerbated
of a panic that was already out there. This is
about orderly versus disorderly. This is about orderly versus disorder.
So far, you've seen an orderly kind of a workthrough
of what this new economic order is going to because
the United States is not going to be picked off anymore.
(16:30):
You just heard Has from the Council on Foreign Relations,
Richard Has saying, the patient's not sick. We'll brow for
the Council off our relation and all the elites in
New York City and the Upper East Side and the Hamptons.
It's not bad because on borrowed money, you've got your
own hedge fund, right, you got the United States government
putting a Keynesian massive influx of stimulus.
Speaker 2 (16:54):
All the time.
Speaker 9 (16:55):
You own all the real assets, you own the real estate,
you guys own all the stocks. Of course, it's good time.
It's the best time to be part of the global elites.
That's what President Trump is changing fundamentally. Last night at
six o'clock, what happens in basically the Tokyo opens and
then the search rolling through the Asian markets actually get Shanghai,
you get Hong Kong.
Speaker 2 (17:14):
And then you get Singapore.
Speaker 9 (17:16):
At the same time, they start trading future so you
can get a sense of where the Dow journal is
going to be. It was fifteen hundred at the open
last night on the futures market, so it looked like
another brutal day right at the start, and all night
it kind of hung in there and President Trump on
the plane back. And that's the brain cuts my staff
did for President Trump. Hey, sounds like a personal problem.
(17:38):
I'm dug in here. And of course you had a
country after country and company after company saying, hey, we
want to come in and talk. Maybe we don't understand
the formula, but we understand this. There's a problem. And
guess what, You're not going to tolerate it anymore. And
this kind of hammer blow to the system, this traumatic
blow to the system, which is what President Trump's been
(17:59):
doing national security. This is what the Russian rap pro
jaman is about. This is what the whole situation when
NATO's about. This is about setting up an order of
which we're a hemispheric defense. Right by the way, Raheem's
going to be here at the bottom of the hour.
He's heading out with Pete heggs at today and guess
where they're going. They're going to Panama because President Trump
(18:19):
is quite serious and JD advanced to Greenland last week.
He sent his Secretary Defense coming back from the Three
Island chains, remember Hawaii, Guam, in Philippines, in Japan, the
three island chains. He's now down and guess where he's going.
He's going to Panama, all because of hemispheric defense, all
because of this massive pivot by the United States geopolitically
(18:43):
and geostrategically. This is also the geoeconomic side. Remember my
talk at SEAPAC in twenty seventeen. The three lines of work.
Number one are America first national security policy. Number two
is economic nationalism, and number three, wait for it, is
deconstruction of the administrative state. President Trump is so far
(19:05):
down the route of all three of them, the most
significant changes in the world I think.
Speaker 2 (19:12):
Since World War Two.
Speaker 9 (19:13):
I may even go back to pre the Guns of
August in nineteen fourteen. This is a major, major, major reset.
It really ends World War two is what he's doing.
And he's not going to budget this now the big
change and the reason that the Dow is now only down.
Speaker 2 (19:31):
What's the Dow down?
Speaker 9 (19:32):
Dal's only down like nine hundred, The Nasdaq is up,
the S and P is up. Oh excuse me, the
Dow is up two hundred fifty points last check. Now
it's going to bounce around. We're not gauging everything just
by how it moves. Right, Things are going to bounce around.
But the point is, at least at the start, it's
not the meltdown that Jim Kramer and all the left wanted.
(19:54):
They wanted panic today. They wanted absolute selling with no buyers.
They want to trigger a margin call that would then
trigger a credit event that would then try to they
would use that to attempt to destroy President Trump. That
would be disorderly right now. This is quite orderly of
just a kind of a workthrough of people's positions. And
guess what for everything people that said President Trump was compromised,
(20:15):
and that Elon Mosk and the tech bros, all the
people in all the reports that it's Bannon in these
economic nationalists versus the tech bros. And they're going to
be the hammer blow is to the mag seven. The
two people that have He's given the biggest hammer blow
to are kind of this this phony tech broleogarchs right
in the Chinese Commuists party, the Chinese Commedist Party, maybe
(20:38):
having a death blow right now, maybe having a death
blow right now. Their economy was just on the on
the bubble as it is and u and it's totally export.
There's all kind of happy talk. Are they're going to
change your consumer economy. They don't have time to change
your consumer economy. They've tried that for seven or eight years.
This is everything, and President Trump came in with a
hammer blow to them. They don't even know how to
(21:00):
respond right now. Their response, by the way, maybe military
intervention into Taiwan. That is why those exercises last week
are not joked. This is why the Korean situation of
the coupded Tan Korea. That now the conservative president is out.
This is all playing into it. And you have to
stand by because right now she may have to pivot
(21:20):
to something like ultranationalism to jack up the young people
in college that hey, the feign devils are trying to
destroy us economically. The two people taking the biggest hammer
blows are the tech olar garks, the tech ola garks
and their stocks. Trump's come right after it, and this
is why there's some great tweets out overnight. The difference
(21:41):
is that these guys are globalists. I mean Elon Musk
showed it over the weekend. It was so embarrassing. I
didn't want to play it. Peter Navarro though, just call him.
I says nothing but a car salesman, but he put up.
He talks to Salvini and the guys at the Northern
League on a video talk he gave it their big
conference in the head of Q and A.
Speaker 2 (22:00):
It was embarrassing.
Speaker 9 (22:02):
You know, I've been saying, hey, he's a globalist, and
you know, I know the fanboys don't want to hear that.
But what he said last night in the middle of
the war that President Trump has in the defining moment
when you have to lock in and lock down, he
comes out and says he wants basically a no tarior
zone between the EU and the United States. He essentially
(22:22):
wants the America to merge in or to after Britain brexited,
he wants us to merge with the EU. But the
worst comment was about and this is the mentality, was
about having European citizens.
Speaker 2 (22:35):
Get come to the United States unfettered.
Speaker 9 (22:37):
It'd be like send gen It'd be like illegal alien
gets through to Hungary. Then you can go all the
work gets through to Italy or Greece, and you can
go all the way to Ireland. He actually proposed that.
And then this morning he's tweeting out He's tweeting out
Milton Freeman's video on the pencil. Stop humiliating yourself. Okay,
(22:57):
this is childless nonsense. Trump is in a war, and
it's a man's war. And I don't mean that about gender.
I mean this is for people who are tough for
need to step into this moment. President Trump is saying, Hey,
the economic order that basically stripped America over manufacturing, based
the economic order that the entire world was dependent upon
(23:19):
working men and women in the middle class in this country,
in the United States of America, and that every person
gained the system.
Speaker 2 (23:26):
It's all getting unmasked.
Speaker 9 (23:28):
Now, why is this turned around in real time in
about twenty minutes. And I'm not saying this will last.
I think you have market movements over the next couple
of days. But why did we not start at Black Monday?
Right last night at six o'clock, it looked like this
is going to be catastrophic. The New York Post lead
story was Black Monday. Jim Kramer, Black Monday's coming. You
got to dump everything. Because President Trump puts this tweet,
(23:52):
we can put it up for a moment. The Japanese,
so you should understand, every nation on Earth has been
trying to get here to see President Trump to talk
about this, but he said no negotiations. Now you have
to say, well, can't people come at least make their pitch.
You know, some people may have a question about the formula, right,
the formula, how you derive this? Peter Navarre was quite
(24:14):
blunt on TV over the weekend. This morning, Peter Nomorrow said, Hey,
this is just not about tariffs, the actual number. It's
about non trade barriers, currency manipulation, counterfeiting, the non tariff
barriers you put into block American goods.
Speaker 2 (24:28):
And this is why if you look throughout the world, you.
Speaker 9 (24:30):
Don't see a ton of American goods sold overseas. You
go to Japan, agree, you never see an American car.
You don't see a lot of industrial product product. We're
to look now as a capital market and a provider
of natural resources and a consumer market. President Trump is
one million percent correct. You cannot continuate. It's not sustainable.
(24:51):
The only way it's been sustainable to date. What people said, well,
sive the economy so good is because you're running two
tradion dollar deficits every year. This is so obvious, it's
so simple, and it's not sustainable.
Speaker 2 (25:05):
The trade devisit.
Speaker 9 (25:06):
President Trump is talking about the tree and dollars that's annual,
the accumulative just like we have thirty seven trillion dollars
of debt, and we're adding a trillion dollars every hundred days.
And the freaking budget the Senate in the House puts
out has four and five tradion dollars increases to the
debt ceiling. So they're not real about actually doing what
men and women have to do is start to cut
(25:26):
this federal budget. It's unsustainable and it's just creating fiat
currency by the Federal Reserve to play to do the
fiscal irresponsible thing. And part of that is a defense
budget that's now over a trillion dollars to underwrite the
security of all these nations on the earth. It can't continue.
President Trump's not saying it can't continue. And this is
(25:48):
what is the only question for President Trump is not
that we are right in fighting the fight of the righteous,
is how do you manage the process? How do you
manage president you don't want the process? Gary Today, Jonathan
Carr reported it. They're going to go into court to
these judges to look for a tro You heard Ben
Shapiir and these guys say it up on the hill.
(26:09):
It's not Ted Cruz. Ted Cruise is virtually irrelevant. Who's
relevant to Steve Danes. Steve Danes, who's had a career
in Hong Kong and in China, is leading out their
seven senators against Trump right now on the record, including
Tom Tillis folks in North Carolina. Steve Danes may lead
out another five to ten senators. The United States Senate,
(26:31):
led by the Republicans may try to intervene here and
take the power away from President Trump. Everything's on the
table right now. The key is that the Japanese are
in route. And what did President Trump say? He used
the negotiation. He said they're coming over to negotiate. It's
the first time that word has crossed the lips of
(26:53):
Donald John Trump.
Speaker 2 (26:55):
That is the pivot in the market this morning shortbreak.
Speaker 8 (26:59):
Who's your hoos, Stephen k.
Speaker 2 (27:06):
Okay, Marcus bouncing around.
Speaker 9 (27:07):
It's being attributed to a Kevin Hassett quote that they
can't quite verify. I think CNBC put it up that
Kevin has it said there'd be a ninety day pause
to celebrity here and negotiate.
Speaker 2 (27:20):
Now they're saying the White House is saying that's not true.
Speaker 9 (27:22):
They can't find the verification of that, and so the
markets bounce around here's the point. At the very mention
there's a process, you're going to get back two thirds
of the value loss, just saying at the very mention
of a process you're going to this is all about
people are looking at a process.
Speaker 2 (27:39):
What's going to try to mess up that process?
Speaker 9 (27:41):
Federal Reserves meeting a secret and not a secret, a
closed door meeting of the governors. At eleven thirty, Jonathan
Carlve ABC is reporting pretty well, how to say the
sourced that I believe its conservative groups are coming at
to go into legal things. Federal society are think of
(28:02):
going to court today with certain of these attacks, and
trade organizations are lobbyist groups and are looking to go
into court today to get a tro on President Trump
to stop this for tro Also, people are thinking of
going to court today to question the constitutionality of it.
Also Steve Danes and others Now Danes hasn't public he committed.
(28:22):
There's been seven already a public committed, including Tom Tillis
has public he committed to getting President Trump to back
off this. My understanding of Steve Danes is leading an
effort with another five or ten senators.
Speaker 2 (28:37):
Behind the scenes, they're saying.
Speaker 9 (28:38):
They're prepared to publicly come out and basically go against
President Trump and slow this down once again. People are
looking at the courts to try to thwart this and
or Rhino Republicans.
Speaker 2 (28:49):
President Trump is dug in.
Speaker 9 (28:51):
He did say he put this out about negotiate that
the Japanese are sending a team over in. Japan's one
of the thornians. Korea is going to be quite thorn
places like Vietnam. You heard Peter Navara. Peter Navara said,
it's just not the monitor, it's just not the listed
rate of the tariff. It's also the non tariff barriers.
And for Indian places like this, that could get quite
(29:12):
quite sticky and and quite complicated. But there are also
ways to get around that if you still have a
trade deficit, because remember the formula quote unquote is really
based upon predict upon trade deficits. A face amount of
our debt is thirty seven trillion dollars going to thirty eight.
(29:32):
The trade deficit cumulative aggregate is about twenty five trillion
dollars eighteen. Trade of that has come from what China
was granted most favored nation in wto sanctioned to become
actually a true trading partner, although in the category.
Speaker 2 (29:49):
Of a developing nation, which they've never loved. You know,
at the World Bank, they go to the developing nation window.
Speaker 9 (29:55):
Every institution that the global set up was to make
it easier for China. Why that's where they made the
real money and shipping off. The people you see getting
hammered today are people that are financially tied to that.
Let me repeat this, the people getting hammered are the
people financially tied to shipping all the jobs to China.
President Trump, and for all the happy talking kind of missed.
(30:18):
For those ever questioned President Trump being a populist and
an economic nationalist, I hope the last of four or
five days have shown that President Trump is dug in
on your side, the forgotten man and woman. He has
put a full shotgun blast onto the Chinese Communist Party,
full on fifty four percent tariffs. They can't exist, it's
(30:39):
not sustainable. They will collapse. He's also going after the
Max seven, that's the seven stocks, the tech stocks that
were kind of frothy.
Speaker 2 (30:47):
And this is why the Dow joone adjuster.
Speaker 9 (30:49):
I keep telling people it doesn't show the real economy
because all tied to AI.
Speaker 2 (30:54):
Those are the ones, the Max.
Speaker 9 (30:55):
Seven and other big tech oligarchs globalist corporations have taken
in the biggest hits, and President Trump is adamant. Either
you're going to bring your manufacturing back here and really
with the ecosystem of your supply chains right your supply chains,
or or we're.
Speaker 2 (31:15):
Going to We're going to You're going to have high
terrorists you have to come in on, so you've got
to deal with them.
Speaker 9 (31:20):
Either get the money through tariffs, or we're going to
get the money through increased tax revenue of people of
corporations putting their plant and equipment here in hire. Obviously
tax revenue coming off citizens of this country. Now, while
all this is going on geo economically, and we're going
to walk you through the entire day, taking deep breath,
President Trump's in control process. The only issue we have
(31:44):
with President Trump and the path he's going down now
he controls the process the moment, and that can happen
the moment that he doesn't control the process. And I'm
less concerned right now with a court challenge, of course
they're going to try to tie Trump up, or a
political challenge coming from the rhinos in the Senate. The
bigger issue to me is something like a margin call
(32:06):
and a credit event that all of a sudden things
start to spin where you just can't control them. And
that's why you've got to be very careful in this.
I know President Trump is monitoring it with his team
of Scott Bessant and the people over at the Treasury,
and also Peter Navarre. But Peter Navara is out there
and Peter Navarro talking for President Trump ain't backing down
an inch the others geopolitically. And this is critical because
(32:29):
the trade deficit and the debt is in our inextricuary linked.
They're kind of two sides of the same coin, and
that is America spread out over Hell's half Acre and
everybody taking advantage of us. Now the massive pivot that
President Trump has had, because you think about it, we're
not going to be spending the money on defending Western
Europe or the Golf Emirates or even around the South
(32:50):
China See. Eventually this is all going to go back
to hemispheric a hemispheric.
Speaker 2 (32:54):
Defense, not that those those areas are not important.
Speaker 9 (32:58):
And quite frankly, the South China See and around Taiwan,
whether they have those chip plants is vitally important to
our economy.
Speaker 2 (33:04):
Whether you like it or not, whether you take the high.
Speaker 9 (33:06):
Moral ground that Taiwan's independent, you just say, hey, I
don't care, and we're never going to defend them.
Speaker 2 (33:13):
The geopolitical pivot is.
Speaker 9 (33:15):
Monumental, and he's saying, we're going to go back to
the Monroe doctrine two point zero. We're basically going and
part of that's manifest destiny. And here it is the
pivot of the world is not the Eurasian land mass.
It is not Mackinder's. Whoever controls the Eurasian land mass
controls the world. He's saying, the pivot for the United
States of America is the vast Pacific. Okay, starting at
(33:38):
those three island chains, that vast Pacific that is a
natural barrier to the Eurasian land mass and protects the
United States if you look on its east coast. What
you have to do is go from Greenland all the
way to the Panama Canal. You go from Greenland to
the Panama Canal, You take the Panama Canal, you work
out something with Greenland, You establish naval bases there, particularly
(34:00):
submarine bases. You've blocked the Russian navy from the Arctic.
You actually have a play then to make sure that China,
the CCP and the Russians can't come at you through
the Arctic. In addition, you clean out the CCP in
the Caribbean, which has been absolutely horrific and setting ourselves
up for another Cuban missile crisis around Cuba or.
Speaker 2 (34:20):
Bahamas is one of these other locations.
Speaker 9 (34:22):
With the CCPs all over, you control the Panama Canal
and the CCP's navy goes back past the three island chains.
And Bob's your uncle today Pete Hagsath And remember Pete
started his tour by doing what flying over the vast Pacific,
which is the heartland of the United States, strategically to
(34:42):
Hawaii the third island chain, then to Guam the second
island chain, and then to the Philippines in Japan the
first island chain. Today, the Secretary of Defense will leave
early this afternoon and go where he will go to
Panama after jd vance. The Vice President I State with
Walts and then as security Guiser last week went to
(35:03):
where Greenland. Today going with him is our own Raheem Cassam.
Raheem put it in perspective. How important is this The
Secretary of Defense is actually going down to begin the
process of our reclaiming the Panama Canal from the Chinese
companist party.
Speaker 12 (35:19):
Sir, Yeah, thanks Steve, thanks for having me, and be
shortly leaving here for Andrew's Air Force Base. We'll be
traveling with the Secretary of Defense over there to Panama.
Speaker 10 (35:29):
He has a packed out schedule over.
Speaker 12 (35:31):
The next three days, and I'll be bringing coverage live
on all social media platforms and on the national Pulse
for it. And it really revolves around exactly what you're
talking about, right, It's been a long time since we've
seen an assertion of American strength, manifest destiny, the idea
that you can actually, like JD. Vonn said early on
(35:52):
in the administration, do things unlike the Obama administration, unlike
the Biden administration. And it's critical because it fits not
just in fact, it doesn't even fit this current administration
and its next three to four years. What it is,
it's about the future of American security, it's about the
future of shipping, it's about the future of US military
(36:14):
and power projection. And this is not the first step,
as you said, and it certainly won't be the last.
Speaker 10 (36:21):
Because what I.
Speaker 12 (36:22):
Intend to bring up with the Secretary today and tomorrow
along the trip is other American critical pivot points around
the world that have not just been left degraded over
time and abandoned almost by the previous administrations, but also
(36:43):
that are now currently in the process of being traded
away by America's so called allies. One of those, as
a lot of your audience knows, because I know Nigel
Faraj has been on this show to talk about it
in the past, are the Chegos Silence and Diego Garcia
being a critical base over there in the Indian Ocean,
and the British Labor government is in the well they
(37:07):
think the endgame of giving these islands away effectively to
the Chinese Communist Party. So there's a lot at stake
over the course of this trip, and there's a lot
that I intend to get out of the get out
of the Secretary of Defense along the next few days.
Speaker 2 (37:22):
A couple of things.
Speaker 9 (37:23):
Number one, and we're going to hold you through the
break here him because I've got a lot of questions
about this as we monitor the geoeconomics of this in Panama.
I mean, the thoughts are right now the CCP is
held up Larry fink In was it Blackstone or black
Rock actually purchasing from was it Lee? Kl Shang and
(37:44):
Hutchinson Wampoa. The entire Steve Adore operation are actually the
management of the ports, not the managemer of the locks.
The manager of the locks are with the Panamanium government.
And that's what I believe the United States will slide into.
But the docks themselves, the actual operation of taking cargo
on and off that has been blocked. Number two, you
(38:06):
have this whole issue of the Caribbean right what's got
to happen there is you know, you got Venezuela. But
most importantly you saw the weekend millions of people in
the streets in Brazil to support Bolsonar and and we'll
talk later about Lea Penn in the in the millions in.
Speaker 2 (38:22):
The street in Paris standing up for the Penn.
Speaker 9 (38:25):
But what you're there with, Pete, that whole geostrategy, like
what is our what is the methodology we're going to do?
Speaker 2 (38:32):
How important is this? Are we also going to block
the Darien gap? Barber down there? What does it mean
for the Caribbean?
Speaker 9 (38:37):
And why is no one in the US government to date,
standing up and vocally saying, hey, what's going on in
Brazil where they're trying to put Bolsonar in prison and
actually having assassinated We won't allow happen.
Speaker 2 (38:49):
Sir.
Speaker 10 (38:52):
Yeah, I mean, you know, the.
Speaker 12 (38:55):
Kind of the problem that you've laid out is and
I didn't if you might be saying this that you're
not in the administration.
Speaker 10 (39:02):
You know, there are.
Speaker 12 (39:03):
Very few characters in the world who could in a
sixty second thing like you just did pull all of
those things together. And this I know for a fact
that while this administration is doing as much as it
can do, a lot of this stuff is new to
a lot of the new actors in there. A lot
of the people that are now in these positions of
power have not necessarily been you know, banning babies for
(39:26):
the last ten to fifteen years and heard all of
these arguments and understand this, and they're getting to grips
with it right now. I hear that stuff all the time,
and people reach out to me all the time.
Speaker 10 (39:36):
It's like, Okay, yeah, what do we do here? What
are we paying attention to do there?
Speaker 12 (39:39):
What's going on with the pen All of this stuff
and as you know, in the coming up of government,
it's one thing then to understand it.
Speaker 10 (39:47):
It's a totally other thing to act on it.
Speaker 12 (39:50):
And right now, you know, I don't mean this as
an insult in any way, but they're clearly still finding
their feet. I mean they're still clearly still finding personnel
and and if anything must be done between now and summer,
it's to finalize and fill all those positions, because you
actually don't have people who are willing to execute on
things like what's going on in Brazil, on things like
(40:12):
what's going on in France. And well, look, I think
the Vice President's team who I talked to quite often
have a very firm grasp of especially what's going on
in Europe. We saw that during the Paris and the
Munich trip. They can't do the work of the State
Department themselves from the VP's office. So we need we
need more talented people.
Speaker 10 (40:32):
Steve. We might have to get you at a Secretary
of State at.
Speaker 9 (40:34):
Some point, and I don't know, I got I got
a full time perchure. Now that you abandon me, raheem
to travel the world, We're gonna come back. We're going
to talk about dere Gersia, some other things.
Speaker 2 (40:46):
That go through with Raheem on a.
Speaker 9 (40:48):
Weekend of geopolitics and geoeconomics. We're in a live fire
exercise in world markets this morning in the war room.
Speaker 11 (40:58):
Since Trump has gotten back to White House, we are
seeing prominent Republicans in Congress directly criticize his actions.
Speaker 2 (41:05):
People as you heard, like Ted Cruz, like Rand Paul.
Speaker 11 (41:09):
In fact, I don't see many Republican leaders coming forward
to defend what Donald Trump has done.
Speaker 2 (41:16):
The reason here is simple.
Speaker 11 (41:17):
Trump is not just gambling with the American economy. Here,
he is putting Republican political fortunes at risk. We see
some of the biggest stock market declines since the Great Depression,
dire warnings of a recession of inflation, and not because
of outside forces like.
Speaker 2 (41:35):
A pandemic, but because of the.
Speaker 11 (41:37):
Direct actions of the Republican President. Rand Paul, for one,
is predicting dire consequences for his parties. For his party,
this goes forward, dire consequences.
Speaker 2 (41:47):
He says, that could take years to overcome. Some Republicans.
Speaker 4 (41:51):
Also the question whether the president has the legal authority
to impose these tariffs that he has imposed, and these
legal challenges are coming George.
Speaker 2 (41:58):
This is important. There will be legal.
Speaker 11 (42:01):
Challenges to these tariffs, possibly by the end of the week.
I spoke to a prominent Republican, a conservative legal figure
last night. This is somebody close to the President who
told me that he believes that the Supreme Court would
likely declare the president's actions unconstitutional. The issue here is
the authority he has cited that the Emergency Power Act
(42:24):
that he has cited does not explicitly give him the
right to impose tariffs. And also is the big question
is what is the emergency that he is solving in
imposing these tariffs.
Speaker 9 (42:37):
Okay, the important thing there, Rahim, is what Jonathan Carl's
reporting is about, quote unquote Conservatives and Republicans. A Republican
revolt in the Senate led by Ted Cruise, although Ted
Cruise is not really it's really Steve Danes and these
guys behind the scenes. You already got seven on the record,
and a prominent legal figure read Leonard Leo in the
(42:59):
Federal Society is going to come in because that's that
whole Milton Friedman crowd right that they're are coming for Trump.
Speaker 2 (43:07):
They're all coming for the economic naturist. They're going to
try to go to and think about it.
Speaker 9 (43:11):
They're going to go to the courts, and they helped
the Supreme Court bails them out.
Speaker 12 (43:15):
Your thoughts are, yeah, look, my initial reactions to all
of that is, you know, for the for the crowd
that's been screaming, you know, Fiat currency and audit, the
FED and all of this stuff, there's certainly very quick
to defend big corporate interest, which is nothing like the
(43:36):
you know, the in Ran novels that they keep tucked
in their beds with them every night. And and it's
it's not just hypocritical, it actually shows a strain of
deceit that still runs deep through the Republican central party
apparatus that I've talked about this for years now, but
(43:57):
we talked about it. What last week when we talked
about what's going on in the Republican Party of Texas.
You look at what's going on, by the way, in
the Republican Party of Florida at the moment where even
Governor DeSantis is having to fight off rhinos in his
state House who are attempting to stop him from making
any strategic reforms in the state.
Speaker 10 (44:17):
And the same thing is happening here on Capitol hill.
Speaker 12 (44:20):
Look, I know it's it doesn't even need saying, but
these people will revert to type.
Speaker 2 (44:26):
Why take a.
Speaker 12 (44:27):
Look at their FEC declarations, take a look at who
donates to their packs. You know, these are the same people,
and they're they're burning down the phone lines. They're not
your senators and congressmen, ladies and gentlemen, they're their senators
and congressmen. They're burning down the phone lines all weekend
to these people saying, hey, you get in there on
Monday and you stop this guy.
Speaker 10 (44:48):
You stop him ruining our monopoly.
Speaker 12 (44:50):
You stop him ruining our markets, in our wealth and
our richness. And listen, since two thousand and eight to
twenty twenty one, we have seen the largest wealth trans
was inhuman history. And the people who got not just rich,
not just wealthy, not just did well. They became obscenely, absurdly,
satanically wealthy.
Speaker 8 (45:11):
Greed.
Speaker 10 (45:12):
Greed is in their eyes and in their hearts.
Speaker 12 (45:15):
These are the people who are saying, hey, you know,
one of my billions is missing. Now I'm going to
need that back. And it's at a cost to you,
lady and gentlemen. It's a cost to the manufacturing base
of this country. It's at a cost to the nation's
own security, right the very fact that you are not
manufacturing things in this country. You are going to turn
out like the United Kingdom if you continue down this
(45:38):
road of having creating nothing and having nothing. And for
these people who sit half a mile down the street
from me in the Capitol to be doing the bidding
of these major corporates.
Speaker 10 (45:51):
Who are who are who are peeved.
Speaker 12 (45:53):
This Monday morning that they lost a couple or more
points on their stock valuations without recognizing, without realizing, and
without even paying heed to the fact that Donald J.
Trump walked onto that campaign stage, on that rally stage
every single day during the campaign, and he told people
he was going to do this, and he warned them
that tariffs were coming. Did they think he was joking?
(46:14):
Did they think it was a game. Well, now they're
finding out what it's like to be on the receiving
end of that game, and on the receiving end of
being treated like the Pool were treated during the market
crash in two thousand and eight, and like the Pool
were treated during COVID strip their money. Who cares about them? Well,
I got news for you. Who cares about you? Corporate America.
Speaker 9 (46:34):
The commodity prices are driving to all all the commodities,
so inflation that is going to I think dramatically decrease.
All this nonsense about the prices going up. I don't
think it's going to happen. Let's play your favorite person
stepped to the microphone to submit. Let's go ahead and
play this a raheem and have your commentary.
Speaker 13 (46:52):
We stand ready to negotiate with the United States. Indeed,
we have offered zero for zero tariff's for industrial goods.
We have successfully done with many other trading partners because
Europe is always ready for a good deal, so we keep.
Speaker 2 (47:07):
It on the table.
Speaker 13 (47:08):
But we are also prepared to respond through countermeasures and
defend our interests.
Speaker 2 (47:16):
Okay, right there at raheem.
Speaker 9 (47:18):
And by the way, it's the non tear of barriers
that they that the Germans particular this way, I see
no American cars in Europe. Raheem your response to the
head of the European Union.
Speaker 12 (47:29):
You know, just before I do that, do you know
what winds me up so much about this at a
personal level is that you know, my parents lost everything
in nineteen ninety two when George Soros short at the Pound,
and I lived firsthand what Americans have had to live
firsthand since two thousand and eight.
Speaker 10 (47:47):
Right, I've seen it. I've seen the look in my father's.
Speaker 12 (47:49):
Eyes, you know, going through that process of bankruptcy, of
losing everything, and suddenly you know, this man comes along
called Donald Trump, and he promises. He doesn't just say yes,
he pledges. He swears an oath. In fact, if anybody
forgot what he was going to do, what he said
he was going to do on the campaign trail, he
(48:10):
would enact as president of the United States in America's
national interests. And that's what he's doing. And I could
you know, I don't expect anything more from the Democrats.
Speaker 2 (48:19):
Go ahead, but hang on, just hang on.
Speaker 9 (48:22):
I know you get a bolt to Andrews, but I'm
gonna hold you through a ninety second break. As we
start our two Rahiem Kassam's with us. He's about to
head to Panama with the Secretary of Defense from Andrews
Air Force Base. Tom Fitten's going to join us right
efforts on a monumental historic Monday in the war room,
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