May 13, 2025 • 48 mins
THE WAR ROOM WITH STEPHEN K. BANNON
GUESTS:
REP. ANDY BIGGS
JAMES RICKARDS
DAVE BRATT
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Episode Transcript
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Speaker 1 (00:15):
H cng it up.
Speaker 2 (01:51):
Be you.
Speaker 1 (03:19):
Long receiving line of frankly rich guys coming to get
their thirty seconds with President Trump and with the Crown Prince.
Crown Prince greeted President Trump at the airport a short
time ago, an honor he did not offer President Biden.
In twenty twenty two, when he arrived the President's limousine,
the beast was escorted to the Royal Court by Arabian horses.
(03:42):
The Saudis know how to put on a show. They
know how to welcome President Trump. Remember in that visit
in twenty seventeen when they projected his face onto the
side of the Riz Carlton hotel there.
Speaker 3 (03:52):
Yeah, the Saudis created a template that was his. Trump's
first trip was May twenty seventeen. I was on that trip,
traveling with the presidential pool. He had the imagest of
the President and the King were draped on every building.
As you as like Moti Kid went down the highway
on his hotel, the Rich Carlton, they put up his face,
as you say, with a digital imagery, the same hotel,
(04:14):
by the way, that Mohammed bin Salam and the Crown
Prince usually later used to detain his political prisoners.
Speaker 4 (04:18):
That was the trip of the.
Speaker 3 (04:20):
Orb where you know the President and the king and
the head of Egypt all stood with it.
Speaker 2 (04:25):
Yes, they created that. Saudi's figured out early.
Speaker 3 (04:27):
The trick for President Trump is to flatter him, to
treat him like royalty, which is what he wanted. And
we saw that on that trip. We are seeing it
again now. And yes, the White House has said, look,
this is about business. We're trying to get deals the
trillion dollar mark though that seems unlikely. But of course
there are geopolitics that are going to creep in here,
the situation of gods the Gulf States to push him
(04:48):
to come up with some sort of plan there. For
the Palestinians, the Iran deal as well, they're going to
want some sort of solution there. But right now, as
we're seeing the president a short time ago with a
crown prince, he's strengthening ties to the region and it's
really about economic and business development rather than strategy mecs.
Speaker 2 (05:11):
This is the primal screen of a dying regime. Pray
for our enemies because we're going to medieval on these people.
You've not got a free shot. And 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 tried to do everything in the world
to stop that, but you're not going to stop. But
(05:31):
it's going to happen.
Speaker 1 (05:32):
And where do people like that go to share the
big line?
Speaker 4 (05:36):
Mega media?
Speaker 1 (05:37):
I wish in my soul, I wish that any.
Speaker 5 (05:40):
Of these people had a conscience.
Speaker 2 (05:43):
Ask yourself, what is my task and what is my purpose?
If that answer is to save my country, this country
will be saved.
Speaker 4 (05:53):
Wor use your host, Stephen Cama.
Speaker 2 (06:02):
It's Tuesday, thirteen May. You're of our Lord twenty twenty five. Okay,
we're gonna get into the geopolitics, talk about the pageantry,
the businessman, what the purpose of this? The Great Jim Rickards,
as only he can explain to you, is is up
on deck going to join us momentarily, get Dave Brett
to walk through this afternoon the huge markups and three
big committees, particularly about medicaid and about taxes, are going
(06:24):
to take place. We're going to prep you for all
of that, but I want to start. We're very lucky
to have Andy Biggs for a few minutes here before
he gets on other activities up on the hill. So
Congressman Biggs, here's the thing. We're trying to break this
whole thing down, the big beautiful bill, both the cost
side and the tax side. But let's go to cost first,
(06:45):
because you've clarified something to me, I think is quite important,
and I believe they always understand this. Senator Johnson's got
an amazing piece in the Wall Street Journal, and we're
trying to get Johnson on in Hay Holly's piece about Medicaid.
But Johnson taughtalks about, as we talk about on the show,
the discretionary budget. You got to get here. You can't
get a dead ceiling increase and then blow through it.
(07:07):
And I keep saying, hey, we got to get off
talk about the ten years. But the ten year does
have a logic too, in that the guys talking about
ten years are talking about some of the mandatory cuts.
Walk me through right now your assessment, because the Big
Beautiful bill seems to me it's kind of slapped together.
It's very hard to get your hands around. I don't
see a lot of cuts coming out of here. I
(07:29):
see a two treeion dollar minimum deficit this physical year.
The end of September thirtieth, and the back of an envelope,
we're in two two and a half for next fiscal year.
So the four tree and dollar lift we get on
the dead ceiling. I think we blow through before the
twenty six midterm. Congressman Biggs, you've been the biggest deficit
hawk in Congress. Your thoughts, sir, Yeah.
Speaker 6 (07:52):
You're exactly right, Steve. So and you take the big
beautiful bill is focusing on what we call mandatory spending,
and that's a whole tranch of things that we can touch.
We can't really get into discretionary spending too much on that.
But you cannot touch social Security. Everybody says, oh, we're
getting No, you can't cut social Security. And this is
(08:14):
all by rule. By the way, Steve, this isn't law,
this is rule. And so you have this mandatory side,
and then you have the discretionary side. And Ron Ron,
and I love Ron, and I'm.
Speaker 4 (08:24):
Working with Ron.
Speaker 6 (08:25):
We meet fairly regularly talk about these things. He's right,
and I've been advocating to get back to the pre
twenty nineteen levels, get back to the pre twenty nineteen levels.
On the discretionary side, you actually take a substantial chunk,
and you've been the spending curved down. On the other hand,
you're talking about people that they don't want to cut
(08:47):
the Green New Deal stuff, So we're going to get
only about eighty five percent of Green New Deal cut.
That's on the mandatory side. You're going to get these
folks from these California, New York, Illinois, New these high
property tax states. They want the rest of America to
subsidize their high property tax as a deduction. So they said,
(09:10):
now they're not going to vote for this because they
didn't get a big enough deduction. But that's a two
hundred and fifty billion dollar hit over ten years. What's
the big nut. The big nut here, Steve, is that
we're to be cutting less than ten percent of our
annual structural deficit of as you say, two point twenty
five trillion dollars. You'll be cutting somewhere in the neighborhood
(09:31):
of about one hundred and forty billion dollars. So your
deficit will continue to grow and exist. And the other
part is in ten years from now, you'll be sitting
at sixty trillion dollars in national debt unless you do
more than what we're doing what's been proposed, and at
that sixty trillion dollars. That doesn't include any kind of wildfires, catastrophes, hurricanes,
(09:57):
flooding that'll need supplementals. It doesn't include any military action
or wars that get in there. It doesn't include spikes
and interest rates. And also a lot of people aren't
talking about this. It also makes assumptions on the growth
rate of the GDP. So while we want to get
this done and we want it to be nice and
big and beautiful, and there's some great things in this bill,
(10:21):
and there's some nods in the right direction, is you
still end up in a very untenable situation ten years.
Speaker 2 (10:29):
Look, I love Hally and Johnson. They're great guys, but
Hawley's the lone populace and Johnson's like a former business guy,
talks like an entrepreneur. We love him, but they're not
exactly and they would admit they don't have a lot
of stroke in the Senate. You and you're certainly you're
leaving here shortly to go run for governor Arizona, and
you're like the leader of the deficit hawks. This is
(10:50):
like the last hurrah for Andy Biggs. When are we
going to start feeling that there's some organized effort here
of smart people that understand this deficit, because correct me
from wrong the whole purpose. And this is Besson's plan,
which he sold in the campaign. He sold and makes
himself sexual treasury. It's Trump's plan. It's brilliant. Take the
percentage of from six and a half or seven percent,
(11:12):
which is not sustainable, take it down fairly rapidly to
three and a half percent, which we don't love. But
he says, you're never going to get to balance. But
we can live with that. I can finance that this program,
and let's talk by the growth rates. I don't see
us even making a dent in that. I still think
we're back up north of five percent, six percent, a
percentage when you talk about real spending, not the gimmicks
(11:34):
that are in there. You talk about that. So this
doesn't execute on the president's principal plan to get the
country's finances in order. Andy bigs your thoughts. Yeah, I
think that's right.
Speaker 6 (11:47):
I think President Trump is really emphasized the tax plane.
So you got the tax plan, but you got you know,
some of that needs to be paid for, right, I mean,
and how do you pay for it, because some of
it is straight up and by the way, I love
the tax the tax plan, but some of it just
(12:07):
you're not actually you got to have some money to
pay for it somehow, and you should be using trade
offs in other areas. I mean, so last week, my
understanding is last week we were going to vote on
some bills that would codify the Doge cuts, but we
ended up not voting on them. Now, why is that, Steve.
It's because we have people in this body that won't
do it. And so when we start talking about medicaid,
(12:30):
Medicaid is really important because you have two basic fundamental groups.
You have the original Medicaid, which is to take care
of the disabled, the elderly, pregnant women and children indigen children.
Right then you had the Obamacare side of it, which
was the expansion population, which is the able bodied adults.
And then you have the matching rates that are very different.
(12:50):
You don't have work requirements. This bill has very modest
work requirements twenty hours a week. Come on, Steve, I mean,
that's just crazy. To get all your medical care if
you're a n able bodied adult. There are some states
that are reimbursing at Medicaid rates that are multiple times
medicare reimbursement rates.
Speaker 5 (13:11):
Why are those different?
Speaker 6 (13:13):
Well, the number one growing area is the Medicaid and
that is our biggest growing program and our biggest growing
financial danger that we have.
Speaker 4 (13:24):
So you've got to You've got a whole host of things.
Speaker 6 (13:26):
Why are we Why are Republicans now?
Speaker 2 (13:28):
Who?
Speaker 5 (13:29):
Who?
Speaker 6 (13:29):
When I first ran nine years ago, we were running
on the notion of eliminating Obamacare, and now we're basically
embracing Obamacare.
Speaker 2 (13:39):
Because of Medicaid's let's can you can you hang through
the break? I think we have a few. We have
you for a few more minutes after a break, Okay,
I got Andy Biggs, Jim Rickards gonna explain what's happening
in the golf right now. A lot going on, not
just Patrick. Also President Trump's going to address these business
(13:59):
leaders and they're all over there. Cawtwing to it and
Larry Fink Schwartzman the whole pack. Kat's mateitis. It's a
it's a it's quite a collection, right, Brad uh, Brat's
here with charts. Brat's got charts. I would say to
Andy Biggs, I think it is because we don't have
great jobs, and that's why it's a lot of magas
(14:20):
on Medicaid. Agree able bodies. An able body seemen will
be putting in I don't know, forty sixty hours. If
it's a month, they'd just rack it up. You can't
get it. If you're able body, you got to show
that you u that you've got work required at the
minimum anywhere. We'll get to all of this. Uh, the
big beautiful bill gotta have cuts. We're gonna ask Andy
(14:42):
Biggs why the DOGE cuts have not been codified? First
of all, we want to know what the numbers are.
Number two, why didn't people step up and codified in
the war room? Short Break.
Speaker 4 (14:57):
America, use your host Stephen k Back.
Speaker 2 (15:05):
Andy Biggs is with US Jim Records with his day
Brett with US Congress from big First off, when you
go about pre twenty nineteen, or get the pre pandemic budget,
with the revenues we got coming in, we could sort
this thing out. We would be back in something we
go level set and make this you know, get our arms.
What is the problem with going back to the pre
(15:27):
pandemic numbers? Sir?
Speaker 6 (15:30):
All these constituencies that happen every time that the federal
government spends money. They're fighting it, and many of my
colleagues get very nervous about that. Now I'm advocating, I'm
not touching the you know, like traditional medicaid population or
even even no benefits in Medicaid whatsoever, because we're including
(15:53):
inflation that that's happened. I mean, you got to have
acknowledge that. But that doesn't mean that you can't take
down set some other areas within the spending spree. Because
if you take that down, that wipes out, that wipes
out about one and a half trillion dollars just like that,
and then you have the additional things that were that
(16:15):
are being proposed. You have massive amounts of fraud and
waste and duplication in every program, every pro Okay.
Speaker 2 (16:22):
Hang on, full stop, full stop, full stop. I want
to go back to DOGE because this is my big
problem with ELIN when they came in, because it was
like a magic wand we're going to find a tree,
and we're gonna find this of the codification on the
DOGE cuts because I'm sitting there going Medicaid in the
Defense Department. Come on, man, that's fraud central. Let's go back.
You say they were going to codify they were going
to codify the DOGE cuts, and I don't want the
(16:44):
programmatic cuts, but fraud, waste and abuse not not Usaid,
not Department of Education. We understand that right that that's
that's coming programmatically. But when you talk about waste, fraud
and abuse, the treeion dollars that we're supposed to find,
how much have you said? Actually, because I keep asking
and I don't get a firm number from anybody. So
when you say codification of DOGE cuts last week, what
(17:07):
were you trying to codify USAID and the programmatic stuff
out of education or actually like fraud from medicaid?
Speaker 6 (17:16):
It was it was gonna be largely what you described
as programmatic. We're talking USAID other programs that are duplicative, wasteful.
Speaker 2 (17:23):
Full full stop, full stop, full stop, full stop. I
got that. I'm glad they sent the kids over and
they were like a hammer. But you know, Eli Crane
and MTG and Andy Biggs, you know, two year and
twenty three, in the fricking middle of the summer, at
two o'clock in the morning, you guys are up there
on the house floor arguing at you know, and trying
to get these cuts. This has all been identified. I'm
glad Elon came in as an auxiliary force to do it.
(17:46):
But that's something we knew about and something's got to
be done and must be done. But that's programmatic. Why
this is my question, why have we not found actual fraud?
Not a train does a couple of hundred billion dollars?
Where is that?
Speaker 6 (18:03):
If they have found it, they haven't given me the receipts. Okay,
that's my that's I'm where you are. It's like, okay,
I keep hearing these numbers. Where are the receipts. I've
got to prove it, because it isn't just about if
it's fraud. It isn't just about Steve cutting that wasteful
spending out. It's about prosecuting people. So if you have,
(18:27):
if you have people that have fraudulently sent in social
Security numbers. By the way, yes, I can just tell
you that under previous programs before, under Obama, for instance,
you could go to these child tax credits and you
could actually find literally where hundreds and hundreds and thousands
(18:51):
of illegal aliens were getting those benefits using loopholes in
our law. But they were fraudulent, and there were there
were accountants that actually and this is what I mean
when you get to the fraud, they were actually prosecuted
for filing those false claims.
Speaker 2 (19:07):
And that's it.
Speaker 6 (19:09):
And that's that's when I say, show me the receipts,
because then I'll know how much is there. I want
to know who we're prosecuting or who we're investigating.
Speaker 5 (19:20):
At least we're investigating. And if we have that, and.
Speaker 6 (19:24):
Then I can, then I can then I can get
a number. But right now I have no number.
Speaker 2 (19:30):
Okay, by the way, on the codification, i'd like to
do that in the approporations parts anyway, But that's I'll
talk to you about that later. I'm going to go to
two things. Number one, Medicaid. We talked about expansion. Here's
the problem. We've shipped all the great jobs over so
you get maga. I mean in Arizona, I think there's
a ton of maga that are kind of working class.
That the way they make it meat is they're using
(19:50):
medicaid to have babies and and to meet medical am
I am I because medicaid is not this is urban
you know legend anymore. It's it's it's actually actually out
there in that the Medicaid expansion, don't we have Josh
Hawley write that we're going to have to deal with
this and begs, you're the biggest deficit hawk. I know,
So what your people will listen to you about your solution?
Speaker 4 (20:12):
Yeah, So here, here's the deal.
Speaker 6 (20:15):
If you're working eligible the expansion population, there's one hundred
thousand people on the expansion population in Arizona, one hundred thousand.
There's more than two million people in Arizona now, Steve,
we have a population of seven million in Arizona.
Speaker 5 (20:30):
There's more than.
Speaker 6 (20:30):
Two million people that are on what's called Medicaid. We
call it access in Arizona, whether it's expansion or the traditional.
We spend from all sources more than twenty billion dollars
a year, and that means for every man, woman, and
child in Arizona, we allocate essentially three thousand dollars. You
(20:52):
are helping pay three thousand dollars for the two million
plus on Medicaid in Arizona. Interesting thing for me, and
and the other thing is there's if folks were on
the expansion population and they're capable of working, they're also
(21:13):
capable of getting on the ACA's silver plan at the
lowest plan, and so they're not going to be without care.
The question is, how are you going to fund that care?
How are you going to pay for that care?
Speaker 2 (21:27):
Well, the state can't do it. You're gonna be governor,
because this is my point. You're going to be governor.
Governor beggs, you go, what do you think this is?
Isn't this kind of the thing? Hey, we want to
double it back to the states. But the reality is,
and these are and I'm saying worker grammars should be tough.
There should be not one illegal alien on this. I
heard there's still that problem. But how do you do it?
(21:49):
How do you do it? How do you do it
and make sure working class people got a shot here?
Speaker 5 (21:55):
Well, you have to.
Speaker 6 (21:57):
You have to do a number of things in one
not the least of which is refine the medical care. Now,
when we start talking about fraud in medicaid, I'm going
to tell you that we have found providers that are
defrauding the.
Speaker 4 (22:10):
Federal government in order to get higher REMOCE.
Speaker 6 (22:14):
That's real and so h So you're gonna have to
do that in Arizona. So you're gonna have to basically
do a doze on that in Arizona and actually prosecute.
You're going to actually get reimbursements in those This is why.
Speaker 2 (22:25):
I want to see the dose in I want to
see the dose at the federal level. Anyway, we'll get
to the last thing because I got to. I know,
you get a punch on the tax bill. What I look,
I'm all for the upper bracket. Somebody's got to pay
this and not have carried interest as a slap in
the face to working class people. It's outrageous. But the
business cuts are not permanent. They're just going to be
with us for a couple of years. Isn't important to
(22:47):
get if we're going to do the you know, the
advanced rite offs of of of capital expenditures of R
and D, which we want particularly help entrepreneurs, don't we
want to make those permanent. They're just kind of thrown
in there and as soon as Trump's gone, they're gone. Sir. Yeah,
you do want to make that.
Speaker 6 (23:05):
I mean, because an entrepreneur will adjust to the field
of play.
Speaker 5 (23:10):
They always do.
Speaker 6 (23:11):
But what you want to do is give them predictability.
If you don't give them predictability, they get skiddish and
they withhold capital investment. And that's really what you're trying
to do, because capital investment creates jobs, they expand the employment,
they expand the economy, and so these are good, these
are good provisions there. They just need to be lengthened out.
(23:32):
But the problem is, Steve, somebody's got to pay for him,
so we u The other thing is when we start
making the reductions like we're doing for middle class folks
in multiple areas and senior citizens and all that, there
won't be capital investment because of that. So you have
to just say that's foregone investment that's not coming in.
(23:55):
But you have to you're going to have to deal
with that in Arizona. What what What's going to have
to take place, Steve is We're going to have to
acknowledge that Arizona needs to open up its natural resources
because it's got incredible minerals, including critical minerals. And if
we can open those up, we can we can survive
(24:15):
on the extraction fees that the same that you see
from places that like Texas or North Dakota where they
had the those fees for exploration and uh taking out
oil and gas.
Speaker 2 (24:27):
We can do the same in Arizona. So condors and
big people are looking at you this next couple of
weeks and it's going to be the grinder to go through.
So what's your social media? Where do people go? We
look forward to having you back.
Speaker 4 (24:39):
I go to aasy uh.
Speaker 6 (24:43):
Rep Bandy bigs Azy, that's it. Rep Bandy BIG's acy, gotcha.
I never go there myself.
Speaker 2 (24:49):
Steve, Well, we need people, we need we need tons
of people to go there because you're you're absolutely you're
absolutely cent for this. So we uh we appreciate you, sir.
Speaker 5 (25:00):
Thanks Steve taking care Man.
Speaker 2 (25:03):
Congressman Andy Biggs. Congressman Biggs. Capital investment leads to jobs.
President Trump is over there and it's national security. Normally
you always go over there. We started the first trip
is all national security. Right now, this is all about
capital investment leads to jobs. The biggest players in the
(25:24):
world are there, with the Emirades, the Saudis. It's quite
a quite a group. Jim Rickards, who's a specialist, understands
this neighborhood perfectly, is going to join us here. In
a moment. We're gonna take a short commercial ring mount Now.
You need since all the forecasts, except that the war
room have been wrong by all the mainstream media and
(25:46):
the business press. Remember the sky's not falling. Remember in
mid April. It's the worst stock market in April. And
the histories is nineteen twenty nine, nineteen thirty two wrong.
And we'll talk about that. By the way, we gonna
get the reshoring our reshoring guy on if not this
morning and we can't do it this afternoon, and I'm
gonna have Elight Crane and Burkett, both Burchett on UH
(26:09):
and the six o'clock hour to talk about what's going on.
Capital investment leads to jobs. That's why President Donald John
Trump is getting the royal treatment in Saudi Arabia. Today
in Riod, Jim Rickards is going to join us birch
Gold dot com. End of the Dollar Empire. The Rio
Reset July sixth is the road to Rio every day
(26:31):
to talk about what the bricks nations. Remember she and
she and Putin were like two high school kids, two
sixteen year olds on their first date last week in Moscow.
Guess where she Guess who she's having as a guest
today in Beijing. If you said Lula of Brazil, you
would be right, bricks that Bannon. Okay, short break Jim
(26:51):
Rickards on the other.
Speaker 4 (26:52):
Side, confuse your host, Stephen k.
Speaker 2 (27:07):
Okay, jimber By the way, we may cut to President
TRUMPETSUSI starts speaking at this conference of extream or we
go live. Jimber consjoins us. Jim, I got a lot
of questions after Biggs's discussion here, but I want to
go back to capital investment leads to jobs. Why is
the president of United States being fedied like a royalty
(27:28):
in the even more so than it looks like a
traditional president in the Middle East right now in the
Kingdom of Saudi Arabia.
Speaker 5 (27:34):
Sir, Well, it's a two way relationship, Steeve. Of course
they're you know, they're fed in and FMSNBC wants to
say they're sucking up to him.
Speaker 4 (27:43):
Whatever.
Speaker 5 (27:43):
It's just a sign of respect. I would leave it
at that, but it's a two way relationship. It's a
good time to remember the Petro Dollar Court, which is
still in place. It was put in place in nineteen
seventy four, but it's still active today. And I was
actually part of the team that put that together. We
had a carrot and a stick approach, so The carrot
was Bill Simon, who was Secretary of the Treasury Jerry Parski,
(28:05):
and they went to the Sardis and they said, look,
everybody in the world needs oil. So if you price
oil in dollars, everybody needs dollars because they got to
buy the oil. And that basically underpins the role of
the dollars the global reserve country. There's more too over
that's the key thing. And by the way, stories when
you get your dollars for the oil, deposit them in
the US banks General Tax Council of the City Bank actually,
(28:29):
and the banks will lend it to South America and
they'll buy our stuff. We'll get the whole economy out
of the ditch, which he was in nineteen seventy four.
So that was the carrot. But there was a stick.
And I worked with Helmut Sandefeld, who was the Deputy
National Security Advisor in the White House under Henry Kissinger,
and the stick was, if you don't do it, we're
going to invade Saudi Arabia. Not the whole place, it's
mostly sam but the eastern provinces take over the oil production.
(28:52):
We will produce as much as we want, we will
price it wherever we want. We'll hold the money and
trust for the Sardi people. But basically, we're going to
run the oil market.
Speaker 2 (28:59):
Come on, slow down, slow down, hold full stop, full stop.
This is, by the way. I'm gonna have ed luson
later in the week about the new book. It's a
big about doctor Brazinski as the National Security vis It's amazing.
It's like Shakespearean for half of it between Kissinger and
brazils kids. But hit me, what we threatened to do?
When was this we threatened to do? What this was?
Speaker 5 (29:21):
This was nineteen seventy four, So the carrot was priced
in dollars. Everybody needs oil there for everybody needs dollars,
and we'll get what we'll give your security umbrella as well.
That was the That was the carrit That was the process.
What happened hold it?
Speaker 2 (29:33):
We had just did hold it records records. We had
just screwed these guys, hadn't We just gone off the
gold standard? And this is the air ball Olimbarger all
is because of this, because they realized, hey, they're going
to start paying us in wait for it, Fiat currency, sir, Well,
but that was you're right.
Speaker 5 (29:49):
See that was nineteen seventy one. But that was exactly
the point, which is, hey, if your stories, why don't
I just pump oil, you know, jump the dollars and
buy gold and you know, put the gold in the vault.
How do you get the dollars in circulation? It's it's
about the quantity of dollars. It's about the circulation of dollars.
And that was the key. Everybody in the world was
going to need dollars that you couldn't buy oil and gold.
Speaker 2 (30:09):
Now that was a.
Speaker 5 (30:09):
Possibility, by the way, the Sardians could have said, hey,
give us gold and we'll sell you the oil. They didn't.
They said we'll sell you the oil for dollars, and
that was the petro dollar court. Now, by weight of gold,
the dollar dropped ninety five percent from nineteen seventy one
to nineteen eighty. Gold went for thirty five dollars an
ounce to eight hundred dollars an ounce, So if you
use gold as your yardstick, it was a ninety five
(30:30):
percent evaluation of the dollar. And the moral of the story,
just have some gold, but you also need oil, and
you also needed dollars. So we took the plan basically
the invasion plan and we leaked it to the Chicago
Tribune and the Sardis read both sides of the equation.
They said, okay, we'll do the petro dollar cord. But
my point is it's still in place. Now we may
(30:51):
be getting close to petro dollar two point zero, and
obviously Scott Besson's honey would be on slow down.
Speaker 2 (30:57):
I want to make sure that. I want to make
sure hang on to make sure Steve Bannon understands this.
You say it's in place, but the Saudi's cutting out
put deal with the Chinese to take it, and you know,
to take the currency risk and figure it out. The
Persians did it with the Chinese, not the petro dollar.
The Saudi's currently wrong, done a forty year deal with them,
not the petro dollar. I think the UAE, our good
(31:21):
buddies there, did one with Mody and India our good
buddy there also, not I mean away from the petro dollar.
Am I wrong there? Haven't they always started seeing the
cracks in the system.
Speaker 5 (31:32):
Well, you're right, but they are cracks. But that's the point.
That's why it's time for Petro dollar accord two point zero.
Let's get back to where we were and that's one
of the reasons the President is in Stardi Baby meeting
with MBS. So yeah, but you're right, Steve, But the
amount of Chinese you want that the Stadies took for
oil is miniscule relative to the overall market. And they
(31:52):
don't want to you want, like, what are you going
to do with do you want? I mean, you know,
buy some Chinese manufacturing goods. Finally, they don't even need
that many. But this is the Saudia's way and the
Emirates way of signaling the United States, Hey, you know,
you better get back to being our friend. You better
get back to giving a security umbrella, and you better
get back to, you know, maintaining the value of the dollar.
(32:14):
And then well, you know, they say, that's why I
called Petra dollar two point zero. It does need refreshment.
It was never a treaty, by the way, it was
a memo, which at least of the time it was classified.
I don't I think that's ever been revealed. But you
don't need a treaty, you just need a firm handshake,
and they can trust Trump. But that's one of the
reasons hees there, and the idea that oh, this is
(32:34):
just a business trip or whatever. Well, yeah, but it's
all dollar base. That's the thing. So the Saudis will
still sell oil to the Chinese, but they'll tell the
Chinese you have to pay in dollars. That puts the
pressure on the Chinese because how do they get dollars?
They sell stuff to the United States. What are the tariffs? Well,
they were one hundred and fifty percent two days ago.
Maybe they're thirty percent for the next ninety days. But
(32:55):
this is all This is a very complex game, and
the Russians are involved. But the US, by stre think
the relationship with Saudi Saudi Arabia going to Petro dollar
two point zero puts the pressure on China to basically,
you know, reduce their tyrists and meet some of the
Trump's requirements. Otherwise they don't have a source of dollars.
Speaker 2 (33:15):
The geopolitics here, there's actual discussions behind the scenes in Turkey.
I think an instant bul on Thursday, this supposedly is
a Lensky potential putin meeting. Trump's kind of dropped it.
I know people are actually thinking this through that Trump
may actually go by, which would be historic. Walk me
through the geopolitics. We've got the Larry Fins. We've got
the investments and we'll come back to that in a second.
(33:36):
But the geopolitics all, you know, they had, They had
the pomp and circumstance of meeting the president. You had
the beast surrounded by the cavalry of the Saudi Rural
Sardi Army. I also want to tell mister Hollins and
mister Holland's opens. I think there's a job opening this
afternoon for a BAN leader in Saudi Arabia, probably looking
(33:56):
for somebody from an American high school to go over
and teach the guys. Let's take another crack at that
national anthem. Good effort. No, it's hot and the instruments
are hot, but got to do better. What's the geopolitics
of this records.
Speaker 5 (34:09):
Well, basically the meeting you said supposedly a meeting. Yeah,
I think that's the right adjective. Selenski, you know, threw
down the stair. I'll go to Istanbul and Putin shows up.
Putin's not going to show up. Now, if Putin shows up,
Trump may go, that's correct, But Putin's not going to
show up because Putin, because what Selenski wants is an
(34:31):
unconditional ceasefire. Show me a party, Show me a case
in the history of the world where the side that's
winning the war winning the war which Russia is agrees
to an unconditional ceasefire. Putin has made his turns clear.
Putin laid down terms before the special military operation in
twenty twenty two. He laid them down again, same terms
as a speech to the Russian Foreign Ministry last summer
(34:54):
summer at twenty twenty four, and he'll repeat them whenever
you like. Denossification D military is a no NATO. Russia
takes the four provinces east of the Neighbor River basically
plus Crimea. And I said, that's basically the deal. Trump
could have that deal tomorrow. He you know, maybe Putin
will throw in a couple of sweeteners just to say face.
(35:16):
But why should Putin agree to anything less? And what
strikes me is that the West, the collective West, are
basically NATO and the United States are very good at
talking to each other. You know, the other day it
was a starmar and mccron and Mertz German Chancellor of Germany,
met with Zelenski. So what we're talking to each other,
who's talking to Putin, who's talking to labrav Now, I
(35:36):
know white Koff has been out there, he's met with Putin.
That's that's very constructive. But they cook up all these plans.
They lead him to the you know, the Financial Times,
in the New York Times. They create a narrative. It
amounts to nothing because no one's addressing Putin's points now.
But here's the importance of it. If we if we
could end the war pretty much on Putin storms because
he won the war. That's the point. You win the wars,
(35:57):
you get to keep stuff. But if we could get
that behind us, then Russia is instrumental helping with Iran.
And who wants No one wants to war in Iran
except you know, Lindsay Graham and a few other warmongers.
Speaker 2 (36:09):
But well, we do it do You had Frank on,
we had Frank Gaffie on your say, making the case
for unilateral Israeli, which I love Frank, but the audience
wasn't buying. It didn't make less sense. But that group
that's meeting today, because this is the world's you got
Larry Fink, you got Schwartzman, you got every big you know,
uh swinging whatever from from New York down there. You
(36:31):
got everybody from the golf Emirates to talking about trellion
dollars coming here investments, which look, as you know, I
don't love these sovereign wealth funds putting money into the
United States companies are bad enough, but the foreign capital.
But President Trump's focus on a trellion dollars. That group
and they and the Amiradis and the Saudis hate the Persians.
But I don't see any group over there that has
(36:54):
any interest even in thinking about or talking about the
Israelis going to take a take a bombing run on
the on these on the on the nuclear on the
sites that they're working on this uh, on the nuclear program,
do you Jim records?
Speaker 5 (37:09):
Uh, I don't think that group expects that. I agree
with that. Now if you asked, will the Israelis do it?
When the Iranians get to the point where they have
not just a nuclear device, you can blow something up.
That's a big deal, by the way, but it's not
just the nuclear advice. You have to weaponize it. You've
got to get it on a warhead, the missiles have
to work, et cetera. But when the Iranians get close
to that point, the Israelies will attack Iran because it's
(37:32):
sex estential, it's you know, they have no strategic adapt
You could basically wipe out all these rallies, in effect,
most of the Jews in the world if that happens.
So they're not going to let it happen. So the
question is how do you avoid that? Will you avoid
it by getting the Iranians to agree to verifiably hold
off on any further development of the Iranian enrichment? How
do you do that? You get the Russians involved? Uh,
(37:54):
and so, But that's where this whole thing falls down.
Over the Zelenski who is you know, people say, why
does it put and kill Zelenski? Why would you if
you're if you're if you're in a war and your
enemy is being run by an idiot, why would you
kill him? You want the idiot to be in charge.
But you know, and Trump is, you know, kind of
maybe at the end of his rope with this whole thing.
But you have to basically settle the war on Russia's terms.
(38:16):
That's not a cave in. It doesn't make Trump a puppet,
None of that's true. Read the History of Venice nine
hundred years.
Speaker 2 (38:23):
Hang on, stop hangover second hangers side because they're gonna
be blown us up on social media. Rucker is just
another running dog for for Putin UH And this is
all the Tucker Carlson, Kurt Mills, Steve Benn and you know,
love love Russia crowd, make your justification. Why is that
not Why is that not just colt? Why is that
the President United States just cap telling to the Russian demands?
Speaker 5 (38:45):
Sir? Two reasons. Number one, Russia is winning the war.
They're going to win the war. It's not over, but
they've decisively won the Warkraine. Ukrainian armed forces are in
full retreat. They've been decimated. Look the Bradley fighting vehicles,
the Leopard tanks, the Challenger tanks, the Abrams tanks, they've
all been left burning on the battlefield. Why don't you
(39:06):
hear about the F sixteens flying around because they get
shot down by four hundred of Russian ALLI missiles? Was
one in Russianika? Did you not get the message? The
RUSSIANIC missile has made tactical nuclear weapons obsolete because you
can do just as much damaged without the radiation. Russian
only won the war. They're going to stop at the
neighbor river. But there's nothing stopping them from going to
(39:27):
the English channel. Basically because NATO has shown that their
weapons don't work. It's not even a question how many
weapons you give them. They don't work. Asolete they're selling
them stuff. So we said this from day one.
Speaker 2 (39:37):
When Lensi's trying to get some security guarantee, I can't
pammer it. I go on British TV and say, yo,
you guys combined are not gonna be able to put
up twenty five or thirty thousand combat troops. And guess what,
because they're talking one hundred thousand and fifty thousand. They
finally passed the hat around. They can't. They come up
with the security force at most twenty five thousand, which
is a true NATO is not real. It's total performative.
(40:01):
And we talk about these three guys in the train,
uh and what they were doing with the little bag
of why who knows. That's another whole separate issue. But Rickards,
I'm hold you can you can you stick around for
one more one more block? And I've also got the
great Dave Bratt with US. Brat's up in the bullpen.
He's got charts today, Bratt does as he usually does,
(40:21):
John Solomon's on Tulsa. Gabbard is given an exclusive comments
statement to John Solomon over just the news that is
going to start setting things right about the domestic surveillance
of United States citizens who they consider extremists. Yes, that
would be Magus. So we got that all coming President Trump.
If we get this business, uh, I think it's not
(40:44):
a lunch now, guess it's a dinner only Rickards. Remember
that Rich Carlton is where they were MBS put off
the Saudi chiks that have been shaking down people and
not give them a little something for the effort. Back
to the Royal Family. Shark commercial break back.
Speaker 4 (41:00):
Use your host, Stephen k Ban.
Speaker 2 (41:05):
Okay, take your phone out, Birch Gold. Just go Bannon
b A N N O nine eight nine eight nine eight.
You get the ultimate guide totally free of how to
invest in gold and pressors medals in the era. Let's
change that the age of Trump. Do it today. Talk
to Philip Patrick and the team. Also, we're gonna need
you the ramparts not today because we've got to figure
(41:27):
this out. There's going to be a markup of ways
and means on the tax side, there's gonna be a
mark up over at the energy and commerce. I think
on medicaid. We're all over this, but we're trying to
figure this thing out. So make sure that you're smart
and weaponized when you get up on the ramparts. But
what we don't need is you occupied by having a
hard money lender, like either own your house or have
a big old second mortgage. Un because somebody got into
your got into your title. Home title lock dot com
(41:49):
triple lock, one million dollar protection what is it twenty
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If all else one million dollar restoration program. You got
Natalie Domingus and the team of their Home Title dot
Com promo code. Wait for it, Steve, pretty simple, check
(42:12):
it out today. Just go check it out. All we
asked you. Just go check it out. Talk to Natlie
domingusy if it makes sense for you. You cannot be
occupied that happens. Your life changes, folks, because ninety percent
of your net worth is tied up in that title
for your real asset called your home. Jim Rickards brother thoughts.
There's so much going on, not a better time to
(42:33):
have a guy like you around. What are your thoughts
of what's happening?
Speaker 5 (42:36):
Yeah, you mentioned Tulsi Gavacy. She did something a few
days ago that was momentous. She declassified a document that
was designed to identify and deal with domestic terrorists. And
by the way, this talking was crazed on to the
Biden administration and would make that clear. She declassified it.
By the way, I live in New Hampshire and I
became a Tulsia fan. And when she ran in twenty
(42:58):
twenty for president, you get to meet all the candidates
up in New Hampshire. It's all retail. She went surfing
in New Hampshire on New Year's Day. The water Temperatu.
She was like fifty degrees in a dry suit, So
I said, that's bad. So I am a big fan
of Telsea and I did meet her and spend some
time with her. So she did classifies this document, and
I have a lot of experience with classified documents. They
used like a black magic marker to cross out some
(43:20):
of this stuff, but I could read right through it.
It just kind of see what it was. It was
classified secret It wasn't top secret, but it was secret
no foreign which means no foreigners don't share this intelligence
for foreign intelligence services such as the Five Eyes. So
what was it? It was a blueprint for doing with
domestic terrorists. And I'm like, okay, that's important. I'll read that.
Who are they? Well, Ms thirteen, I know they're from
(43:41):
l Salvador, but they're here. TRENDERI Ragua, I know they're
from Venezuela, but they're here. Isis you know, Biden, open
the border, let everybody. So these are all top organized
domestic terrorists, not to mention Antifa and BLM. So I
has I'm reading through. It doesn't mention any of them,
not one do they target? You got to tell Page
(44:02):
twenty in the fine print the military and list of
military didn't say, you know, convicted of a court martial
de very, just listed military government contractors. That's probably twenty
million people. It talks about the need to enforce social cohesion.
Those are the exact words. What is social cohesion? Which
means if you're MAGA, you're not socially cohesive in the
eyes of Merrick Ireland or Joe Biden. And it talks
(44:25):
about gun control. You know we this. The Supreme Course
has been pretty clear on second amendments. So I'm like, okay,
this is a document who basically mobilized taking all of
the government approach, mobilized the FBI and the intelligence community
and other resources to identify anyone who disagrees with the
Biden administration. And if you just happen to be in
the military, moms protesting at school board meetings, parts of
(44:48):
the Catholic church, if you know I've been I've been
to mess all over the world twenty different languages. But
if you happen to go to a Latin mess, which
is popular, somehow that marks you down. So this was
this was despicable. It's about swear for but I plaud
Telsea for declassifying it making it available. And I think
we're going to see more like that.
Speaker 2 (45:06):
This is Jim because Solomon's going to come on. He
broke and then they gave uh special access to him
on this. He's going to walk us all through this.
This is my point. Where's the investigation on this thing?
I mean, this has got to be we got to
get you know, they're going to have this big book
coming out by Jake Tapper, and I think Tomlinson over
(45:27):
at actually is now he was at Politico. Thompson, the
two guys that wrote this big expos a massive X
jose on Biden today they dropped it. You know, Biden.
They were thinking about putting Biden in a wheelchair for
the second term. You saw him at the Vatican for
the posting. I mean, he's looks like he's one hundred
years old. Why is there not this should be such
a public, massive outcry in such a huge investigation. Where
(45:50):
is it? Rickards?
Speaker 5 (45:52):
Well, it's a good question. You have familiarity with the
intelligence community. Sy. The one thing they drill into is
we're not law enforcement, we're intel diligence.
Speaker 2 (46:00):
You know.
Speaker 5 (46:00):
So okay, well who is law enforcement? Well, let's see FBI,
It's Department of Justice, pam Boni now and Cash Hotel. Now.
They've got a pretty full play. I take the point,
but yeah, somebody was behind it. And when you have
a twenty five.
Speaker 2 (46:13):
Holy hang on space to hang on, Jim, they got
a hell of a full play. I'm not talking, but
shouldn't this be a priority? Look, it's hard. You've got
to go pretty deep in the woods to hit your
trip wire to get you to say, hey, this is
outrageous given your forty years or fifty years experience in this,
and you've said as one of the most outrageous and
not the most outrageous thing you've seen on domestic spying
(46:35):
on American citizens. Isn't this a priority to make sure
this can never happen again and hold accountable those that
did it.
Speaker 5 (46:43):
Yes, this was a blueprint for mobilizing the intelligence community
and the FBI, which is part of the intelligence community,
and law enforcement to basically attack a large segment, maybe
more than half of the American population. Again, you got
to be a bit of a geek. You got to
read all twenty five pages. But it's there, so you know,
they used jargon, they obscure it, they have statutory references.
(47:04):
But yeah, let's have a congressional hearing. Let's find out
who wrote it. If it's classified, then the person who
wrote it doesn't have any particular protection. Who put that together?
Who is behind it? We know we sort of know
it wasn't Biden. I mean, Biden was present. He's responsible,
but he was you know, I don't know why everyone said, gee,
we knew by twenty twenty four that he wasn't all there.
Speaker 2 (47:23):
I mean, what was in twenty twenty he was storrying.
It's it's the Praetorian Guard that put him in this fume.
Where do people go to get to the strategic intelligence
and the free offer of the book money GPT where
they go today?
Speaker 5 (47:36):
Yeah, thank you, Stee. We have our own landing pages
records warroom dot com. That's records warroom dot com. You
go there, you'll find we've got recordings. We can subscribe
to our flagship newsletter, Strategic Intelligence. A lot of the
issues that you and I discussed on war Room we
cover in great depth in our Strategic Intelligence publication.
Speaker 2 (47:56):
So records warroom dot com. This is something read by
chairman and CEA all over the world. It's like the
Financial Times. You want to read with decision makers of
reading get strategic intelligence. Jim, I'm going to publicly now
bug you to come back on later in the week
because there's so much going on. President Trump's historic four
day trip to the Middle East and maybe even topped
off with a trip to Turkey sit down with Putin.
(48:17):
Never know, Jim rickards social media? Where do they go
to get you on social media?
Speaker 6 (48:21):
Sir?
Speaker 5 (48:22):
On exit at Real Jim Rickards at Real Jim.
Speaker 2 (48:25):
Rickards love you, brother, Thanks for taking time today, historic
day and the Trump second term. We've got Dave Bratt,
John Solomon's going to be here, folks. This thing that
Tulsi did and unleashed are put out for the people
to see. It's got to be a priority. This is
what we cannot have a constitutional republic if you have
(48:47):
the Praetorian Guard, the deep state that can do this
short commercial break, take you out with the right stuff,
John Solomon, Dave Bratt, next in the world,
H cng it up.
Speaker 2 (01:51):
Be you.
Speaker 1 (03:19):
Long receiving line of frankly rich guys coming to get
their thirty seconds with President Trump and with the Crown Prince.
Crown Prince greeted President Trump at the airport a short
time ago, an honor he did not offer President Biden.
In twenty twenty two, when he arrived the President's limousine,
the beast was escorted to the Royal Court by Arabian horses.
(03:42):
The Saudis know how to put on a show. They
know how to welcome President Trump. Remember in that visit
in twenty seventeen when they projected his face onto the
side of the Riz Carlton hotel there.
Speaker 3 (03:52):
Yeah, the Saudis created a template that was his. Trump's
first trip was May twenty seventeen. I was on that trip,
traveling with the presidential pool. He had the imagest of
the President and the King were draped on every building.
As you as like Moti Kid went down the highway
on his hotel, the Rich Carlton, they put up his face,
as you say, with a digital imagery, the same hotel,
(04:14):
by the way, that Mohammed bin Salam and the Crown
Prince usually later used to detain his political prisoners.
Speaker 4 (04:18):
That was the trip of the.
Speaker 3 (04:20):
Orb where you know the President and the king and
the head of Egypt all stood with it.
Speaker 2 (04:25):
Yes, they created that. Saudi's figured out early.
Speaker 3 (04:27):
The trick for President Trump is to flatter him, to
treat him like royalty, which is what he wanted. And
we saw that on that trip. We are seeing it
again now. And yes, the White House has said, look,
this is about business. We're trying to get deals the
trillion dollar mark though that seems unlikely. But of course
there are geopolitics that are going to creep in here,
the situation of gods the Gulf States to push him
(04:48):
to come up with some sort of plan there. For
the Palestinians, the Iran deal as well, they're going to
want some sort of solution there. But right now, as
we're seeing the president a short time ago with a
crown prince, he's strengthening ties to the region and it's
really about economic and business development rather than strategy mecs.
Speaker 2 (05:11):
This is the primal screen of a dying regime. Pray
for our enemies because we're going to medieval on these people.
You've not got a free shot. And 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 tried to do everything in the world
to stop that, but you're not going to stop. But
(05:31):
it's going to happen.
Speaker 1 (05:32):
And where do people like that go to share the
big line?
Speaker 4 (05:36):
Mega media?
Speaker 1 (05:37):
I wish in my soul, I wish that any.
Speaker 5 (05:40):
Of these people had a conscience.
Speaker 2 (05:43):
Ask yourself, what is my task and what is my purpose?
If that answer is to save my country, this country
will be saved.
Speaker 4 (05:53):
Wor use your host, Stephen Cama.
Speaker 2 (06:02):
It's Tuesday, thirteen May. You're of our Lord twenty twenty five. Okay,
we're gonna get into the geopolitics, talk about the pageantry,
the businessman, what the purpose of this? The Great Jim Rickards,
as only he can explain to you, is is up
on deck going to join us momentarily, get Dave Brett
to walk through this afternoon the huge markups and three
big committees, particularly about medicaid and about taxes, are going
(06:24):
to take place. We're going to prep you for all
of that, but I want to start. We're very lucky
to have Andy Biggs for a few minutes here before
he gets on other activities up on the hill. So
Congressman Biggs, here's the thing. We're trying to break this
whole thing down, the big beautiful bill, both the cost
side and the tax side. But let's go to cost first,
(06:45):
because you've clarified something to me, I think is quite important,
and I believe they always understand this. Senator Johnson's got
an amazing piece in the Wall Street Journal, and we're
trying to get Johnson on in Hay Holly's piece about Medicaid.
But Johnson taughtalks about, as we talk about on the show,
the discretionary budget. You got to get here. You can't
get a dead ceiling increase and then blow through it.
(07:07):
And I keep saying, hey, we got to get off
talk about the ten years. But the ten year does
have a logic too, in that the guys talking about
ten years are talking about some of the mandatory cuts.
Walk me through right now your assessment, because the Big
Beautiful bill seems to me it's kind of slapped together.
It's very hard to get your hands around. I don't
see a lot of cuts coming out of here. I
(07:29):
see a two treeion dollar minimum deficit this physical year.
The end of September thirtieth, and the back of an envelope,
we're in two two and a half for next fiscal year.
So the four tree and dollar lift we get on
the dead ceiling. I think we blow through before the
twenty six midterm. Congressman Biggs, you've been the biggest deficit
hawk in Congress. Your thoughts, sir, Yeah.
Speaker 6 (07:52):
You're exactly right, Steve. So and you take the big
beautiful bill is focusing on what we call mandatory spending,
and that's a whole tranch of things that we can touch.
We can't really get into discretionary spending too much on that.
But you cannot touch social Security. Everybody says, oh, we're
getting No, you can't cut social Security. And this is
(08:14):
all by rule. By the way, Steve, this isn't law,
this is rule. And so you have this mandatory side,
and then you have the discretionary side. And Ron Ron,
and I love Ron, and I'm.
Speaker 4 (08:24):
Working with Ron.
Speaker 6 (08:25):
We meet fairly regularly talk about these things. He's right,
and I've been advocating to get back to the pre
twenty nineteen levels, get back to the pre twenty nineteen levels.
On the discretionary side, you actually take a substantial chunk,
and you've been the spending curved down. On the other hand,
you're talking about people that they don't want to cut
(08:47):
the Green New Deal stuff, So we're going to get
only about eighty five percent of Green New Deal cut.
That's on the mandatory side. You're going to get these
folks from these California, New York, Illinois, New these high
property tax states. They want the rest of America to
subsidize their high property tax as a deduction. So they said,
(09:10):
now they're not going to vote for this because they
didn't get a big enough deduction. But that's a two
hundred and fifty billion dollar hit over ten years. What's
the big nut. The big nut here, Steve, is that
we're to be cutting less than ten percent of our
annual structural deficit of as you say, two point twenty
five trillion dollars. You'll be cutting somewhere in the neighborhood
(09:31):
of about one hundred and forty billion dollars. So your
deficit will continue to grow and exist. And the other
part is in ten years from now, you'll be sitting
at sixty trillion dollars in national debt unless you do
more than what we're doing what's been proposed, and at
that sixty trillion dollars. That doesn't include any kind of wildfires, catastrophes, hurricanes,
(09:57):
flooding that'll need supplementals. It doesn't include any military action
or wars that get in there. It doesn't include spikes
and interest rates. And also a lot of people aren't
talking about this. It also makes assumptions on the growth
rate of the GDP. So while we want to get
this done and we want it to be nice and
big and beautiful, and there's some great things in this bill,
(10:21):
and there's some nods in the right direction, is you
still end up in a very untenable situation ten years.
Speaker 2 (10:29):
Look, I love Hally and Johnson. They're great guys, but
Hawley's the lone populace and Johnson's like a former business guy,
talks like an entrepreneur. We love him, but they're not
exactly and they would admit they don't have a lot
of stroke in the Senate. You and you're certainly you're
leaving here shortly to go run for governor Arizona, and
you're like the leader of the deficit hawks. This is
(10:50):
like the last hurrah for Andy Biggs. When are we
going to start feeling that there's some organized effort here
of smart people that understand this deficit, because correct me
from wrong the whole purpose. And this is Besson's plan,
which he sold in the campaign. He sold and makes
himself sexual treasury. It's Trump's plan. It's brilliant. Take the
percentage of from six and a half or seven percent,
(11:12):
which is not sustainable, take it down fairly rapidly to
three and a half percent, which we don't love. But
he says, you're never going to get to balance. But
we can live with that. I can finance that this program,
and let's talk by the growth rates. I don't see
us even making a dent in that. I still think
we're back up north of five percent, six percent, a
percentage when you talk about real spending, not the gimmicks
(11:34):
that are in there. You talk about that. So this
doesn't execute on the president's principal plan to get the
country's finances in order. Andy bigs your thoughts. Yeah, I
think that's right.
Speaker 6 (11:47):
I think President Trump is really emphasized the tax plane.
So you got the tax plan, but you got you know,
some of that needs to be paid for, right, I mean,
and how do you pay for it, because some of
it is straight up and by the way, I love
the tax the tax plan, but some of it just
(12:07):
you're not actually you got to have some money to
pay for it somehow, and you should be using trade
offs in other areas. I mean, so last week, my
understanding is last week we were going to vote on
some bills that would codify the Doge cuts, but we
ended up not voting on them. Now, why is that, Steve.
It's because we have people in this body that won't
do it. And so when we start talking about medicaid,
(12:30):
Medicaid is really important because you have two basic fundamental groups.
You have the original Medicaid, which is to take care
of the disabled, the elderly, pregnant women and children indigen children.
Right then you had the Obamacare side of it, which
was the expansion population, which is the able bodied adults.
And then you have the matching rates that are very different.
(12:50):
You don't have work requirements. This bill has very modest
work requirements twenty hours a week. Come on, Steve, I mean,
that's just crazy. To get all your medical care if
you're a n able bodied adult. There are some states
that are reimbursing at Medicaid rates that are multiple times
medicare reimbursement rates.
Speaker 5 (13:11):
Why are those different?
Speaker 6 (13:13):
Well, the number one growing area is the Medicaid and
that is our biggest growing program and our biggest growing
financial danger that we have.
Speaker 4 (13:24):
So you've got to You've got a whole host of things.
Speaker 6 (13:26):
Why are we Why are Republicans now?
Speaker 2 (13:28):
Who?
Speaker 5 (13:29):
Who?
Speaker 6 (13:29):
When I first ran nine years ago, we were running
on the notion of eliminating Obamacare, and now we're basically
embracing Obamacare.
Speaker 2 (13:39):
Because of Medicaid's let's can you can you hang through
the break? I think we have a few. We have
you for a few more minutes after a break, Okay,
I got Andy Biggs, Jim Rickards gonna explain what's happening
in the golf right now. A lot going on, not
just Patrick. Also President Trump's going to address these business
(13:59):
leaders and they're all over there. Cawtwing to it and
Larry Fink Schwartzman the whole pack. Kat's mateitis. It's a
it's a it's quite a collection, right, Brad uh, Brat's
here with charts. Brat's got charts. I would say to
Andy Biggs, I think it is because we don't have
great jobs, and that's why it's a lot of magas
(14:20):
on Medicaid. Agree able bodies. An able body seemen will
be putting in I don't know, forty sixty hours. If
it's a month, they'd just rack it up. You can't
get it. If you're able body, you got to show
that you u that you've got work required at the
minimum anywhere. We'll get to all of this. Uh, the
big beautiful bill gotta have cuts. We're gonna ask Andy
(14:42):
Biggs why the DOGE cuts have not been codified? First
of all, we want to know what the numbers are.
Number two, why didn't people step up and codified in
the war room? Short Break.
Speaker 4 (14:57):
America, use your host Stephen k Back.
Speaker 2 (15:05):
Andy Biggs is with US Jim Records with his day
Brett with US Congress from big First off, when you
go about pre twenty nineteen, or get the pre pandemic budget,
with the revenues we got coming in, we could sort
this thing out. We would be back in something we
go level set and make this you know, get our arms.
What is the problem with going back to the pre
(15:27):
pandemic numbers? Sir?
Speaker 6 (15:30):
All these constituencies that happen every time that the federal
government spends money. They're fighting it, and many of my
colleagues get very nervous about that. Now I'm advocating, I'm
not touching the you know, like traditional medicaid population or
even even no benefits in Medicaid whatsoever, because we're including
(15:53):
inflation that that's happened. I mean, you got to have
acknowledge that. But that doesn't mean that you can't take
down set some other areas within the spending spree. Because
if you take that down, that wipes out, that wipes
out about one and a half trillion dollars just like that,
and then you have the additional things that were that
(16:15):
are being proposed. You have massive amounts of fraud and
waste and duplication in every program, every pro Okay.
Speaker 2 (16:22):
Hang on, full stop, full stop, full stop. I want
to go back to DOGE because this is my big
problem with ELIN when they came in, because it was
like a magic wand we're going to find a tree,
and we're gonna find this of the codification on the
DOGE cuts because I'm sitting there going Medicaid in the
Defense Department. Come on, man, that's fraud central. Let's go back.
You say they were going to codify they were going
to codify the DOGE cuts, and I don't want the
(16:44):
programmatic cuts, but fraud, waste and abuse not not Usaid,
not Department of Education. We understand that right that that's
that's coming programmatically. But when you talk about waste, fraud
and abuse, the treeion dollars that we're supposed to find,
how much have you said? Actually, because I keep asking
and I don't get a firm number from anybody. So
when you say codification of DOGE cuts last week, what
(17:07):
were you trying to codify USAID and the programmatic stuff
out of education or actually like fraud from medicaid?
Speaker 6 (17:16):
It was it was gonna be largely what you described
as programmatic. We're talking USAID other programs that are duplicative, wasteful.
Speaker 2 (17:23):
Full full stop, full stop, full stop, full stop. I
got that. I'm glad they sent the kids over and
they were like a hammer. But you know, Eli Crane
and MTG and Andy Biggs, you know, two year and
twenty three, in the fricking middle of the summer, at
two o'clock in the morning, you guys are up there
on the house floor arguing at you know, and trying
to get these cuts. This has all been identified. I'm
glad Elon came in as an auxiliary force to do it.
(17:46):
But that's something we knew about and something's got to
be done and must be done. But that's programmatic. Why
this is my question, why have we not found actual fraud?
Not a train does a couple of hundred billion dollars?
Where is that?
Speaker 6 (18:03):
If they have found it, they haven't given me the receipts. Okay,
that's my that's I'm where you are. It's like, okay,
I keep hearing these numbers. Where are the receipts. I've
got to prove it, because it isn't just about if
it's fraud. It isn't just about Steve cutting that wasteful
spending out. It's about prosecuting people. So if you have,
(18:27):
if you have people that have fraudulently sent in social
Security numbers. By the way, yes, I can just tell
you that under previous programs before, under Obama, for instance,
you could go to these child tax credits and you
could actually find literally where hundreds and hundreds and thousands
(18:51):
of illegal aliens were getting those benefits using loopholes in
our law. But they were fraudulent, and there were there
were accountants that actually and this is what I mean
when you get to the fraud, they were actually prosecuted
for filing those false claims.
Speaker 2 (19:07):
And that's it.
Speaker 6 (19:09):
And that's that's when I say, show me the receipts,
because then I'll know how much is there. I want
to know who we're prosecuting or who we're investigating.
Speaker 5 (19:20):
At least we're investigating. And if we have that, and.
Speaker 6 (19:24):
Then I can, then I can then I can get
a number. But right now I have no number.
Speaker 2 (19:30):
Okay, by the way, on the codification, i'd like to
do that in the approporations parts anyway, But that's I'll
talk to you about that later. I'm going to go to
two things. Number one, Medicaid. We talked about expansion. Here's
the problem. We've shipped all the great jobs over so
you get maga. I mean in Arizona, I think there's
a ton of maga that are kind of working class.
That the way they make it meat is they're using
(19:50):
medicaid to have babies and and to meet medical am
I am I because medicaid is not this is urban
you know legend anymore. It's it's it's actually actually out
there in that the Medicaid expansion, don't we have Josh
Hawley write that we're going to have to deal with
this and begs, you're the biggest deficit hawk. I know,
So what your people will listen to you about your solution?
Speaker 4 (20:12):
Yeah, So here, here's the deal.
Speaker 6 (20:15):
If you're working eligible the expansion population, there's one hundred
thousand people on the expansion population in Arizona, one hundred thousand.
There's more than two million people in Arizona now, Steve,
we have a population of seven million in Arizona.
Speaker 5 (20:30):
There's more than.
Speaker 6 (20:30):
Two million people that are on what's called Medicaid. We
call it access in Arizona, whether it's expansion or the traditional.
We spend from all sources more than twenty billion dollars
a year, and that means for every man, woman, and
child in Arizona, we allocate essentially three thousand dollars. You
(20:52):
are helping pay three thousand dollars for the two million
plus on Medicaid in Arizona. Interesting thing for me, and
and the other thing is there's if folks were on
the expansion population and they're capable of working, they're also
(21:13):
capable of getting on the ACA's silver plan at the
lowest plan, and so they're not going to be without care.
The question is, how are you going to fund that care?
How are you going to pay for that care?
Speaker 2 (21:27):
Well, the state can't do it. You're gonna be governor,
because this is my point. You're going to be governor.
Governor beggs, you go, what do you think this is?
Isn't this kind of the thing? Hey, we want to
double it back to the states. But the reality is,
and these are and I'm saying worker grammars should be tough.
There should be not one illegal alien on this. I
heard there's still that problem. But how do you do it?
(21:49):
How do you do it? How do you do it
and make sure working class people got a shot here?
Speaker 5 (21:55):
Well, you have to.
Speaker 6 (21:57):
You have to do a number of things in one
not the least of which is refine the medical care. Now,
when we start talking about fraud in medicaid, I'm going
to tell you that we have found providers that are
defrauding the.
Speaker 4 (22:10):
Federal government in order to get higher REMOCE.
Speaker 6 (22:14):
That's real and so h So you're gonna have to
do that in Arizona. So you're gonna have to basically
do a doze on that in Arizona and actually prosecute.
You're going to actually get reimbursements in those This is why.
Speaker 2 (22:25):
I want to see the dose in I want to
see the dose at the federal level. Anyway, we'll get
to the last thing because I got to. I know,
you get a punch on the tax bill. What I look,
I'm all for the upper bracket. Somebody's got to pay
this and not have carried interest as a slap in
the face to working class people. It's outrageous. But the
business cuts are not permanent. They're just going to be
with us for a couple of years. Isn't important to
(22:47):
get if we're going to do the you know, the
advanced rite offs of of of capital expenditures of R
and D, which we want particularly help entrepreneurs, don't we
want to make those permanent. They're just kind of thrown
in there and as soon as Trump's gone, they're gone. Sir. Yeah,
you do want to make that.
Speaker 6 (23:05):
I mean, because an entrepreneur will adjust to the field
of play.
Speaker 5 (23:10):
They always do.
Speaker 6 (23:11):
But what you want to do is give them predictability.
If you don't give them predictability, they get skiddish and
they withhold capital investment. And that's really what you're trying
to do, because capital investment creates jobs, they expand the employment,
they expand the economy, and so these are good, these
are good provisions there. They just need to be lengthened out.
(23:32):
But the problem is, Steve, somebody's got to pay for him,
so we u The other thing is when we start
making the reductions like we're doing for middle class folks
in multiple areas and senior citizens and all that, there
won't be capital investment because of that. So you have
to just say that's foregone investment that's not coming in.
(23:55):
But you have to you're going to have to deal
with that in Arizona. What what What's going to have
to take place, Steve is We're going to have to
acknowledge that Arizona needs to open up its natural resources
because it's got incredible minerals, including critical minerals. And if
we can open those up, we can we can survive
(24:15):
on the extraction fees that the same that you see
from places that like Texas or North Dakota where they
had the those fees for exploration and uh taking out
oil and gas.
Speaker 2 (24:27):
We can do the same in Arizona. So condors and
big people are looking at you this next couple of
weeks and it's going to be the grinder to go through.
So what's your social media? Where do people go? We
look forward to having you back.
Speaker 4 (24:39):
I go to aasy uh.
Speaker 6 (24:43):
Rep Bandy bigs Azy, that's it. Rep Bandy BIG's acy, gotcha.
I never go there myself.
Speaker 2 (24:49):
Steve, Well, we need people, we need we need tons
of people to go there because you're you're absolutely you're
absolutely cent for this. So we uh we appreciate you, sir.
Speaker 5 (25:00):
Thanks Steve taking care Man.
Speaker 2 (25:03):
Congressman Andy Biggs. Congressman Biggs. Capital investment leads to jobs.
President Trump is over there and it's national security. Normally
you always go over there. We started the first trip
is all national security. Right now, this is all about
capital investment leads to jobs. The biggest players in the
(25:24):
world are there, with the Emirades, the Saudis. It's quite
a quite a group. Jim Rickards, who's a specialist, understands
this neighborhood perfectly, is going to join us here. In
a moment. We're gonna take a short commercial ring mount Now.
You need since all the forecasts, except that the war
room have been wrong by all the mainstream media and
(25:46):
the business press. Remember the sky's not falling. Remember in
mid April. It's the worst stock market in April. And
the histories is nineteen twenty nine, nineteen thirty two wrong.
And we'll talk about that. By the way, we gonna
get the reshoring our reshoring guy on if not this
morning and we can't do it this afternoon, and I'm
gonna have Elight Crane and Burkett, both Burchett on UH
(26:09):
and the six o'clock hour to talk about what's going on.
Capital investment leads to jobs. That's why President Donald John
Trump is getting the royal treatment in Saudi Arabia. Today
in Riod, Jim Rickards is going to join us birch
Gold dot com. End of the Dollar Empire. The Rio
Reset July sixth is the road to Rio every day
(26:31):
to talk about what the bricks nations. Remember she and
she and Putin were like two high school kids, two
sixteen year olds on their first date last week in Moscow.
Guess where she Guess who she's having as a guest
today in Beijing. If you said Lula of Brazil, you
would be right, bricks that Bannon. Okay, short break Jim
(26:51):
Rickards on the other.
Speaker 4 (26:52):
Side, confuse your host, Stephen k.
Speaker 2 (27:07):
Okay, jimber By the way, we may cut to President
TRUMPETSUSI starts speaking at this conference of extream or we
go live. Jimber consjoins us. Jim, I got a lot
of questions after Biggs's discussion here, but I want to
go back to capital investment leads to jobs. Why is
the president of United States being fedied like a royalty
(27:28):
in the even more so than it looks like a
traditional president in the Middle East right now in the
Kingdom of Saudi Arabia.
Speaker 5 (27:34):
Sir, Well, it's a two way relationship, Steeve. Of course
they're you know, they're fed in and FMSNBC wants to
say they're sucking up to him.
Speaker 4 (27:43):
Whatever.
Speaker 5 (27:43):
It's just a sign of respect. I would leave it
at that, but it's a two way relationship. It's a
good time to remember the Petro Dollar Court, which is
still in place. It was put in place in nineteen
seventy four, but it's still active today. And I was
actually part of the team that put that together. We
had a carrot and a stick approach, so The carrot
was Bill Simon, who was Secretary of the Treasury Jerry Parski,
(28:05):
and they went to the Sardis and they said, look,
everybody in the world needs oil. So if you price
oil in dollars, everybody needs dollars because they got to
buy the oil. And that basically underpins the role of
the dollars the global reserve country. There's more too over
that's the key thing. And by the way, stories when
you get your dollars for the oil, deposit them in
the US banks General Tax Council of the City Bank actually,
(28:29):
and the banks will lend it to South America and
they'll buy our stuff. We'll get the whole economy out
of the ditch, which he was in nineteen seventy four.
So that was the carrot. But there was a stick.
And I worked with Helmut Sandefeld, who was the Deputy
National Security Advisor in the White House under Henry Kissinger,
and the stick was, if you don't do it, we're
going to invade Saudi Arabia. Not the whole place, it's
mostly sam but the eastern provinces take over the oil production.
(28:52):
We will produce as much as we want, we will
price it wherever we want. We'll hold the money and
trust for the Sardi people. But basically, we're going to
run the oil market.
Speaker 2 (28:59):
Come on, slow down, slow down, hold full stop, full stop.
This is, by the way. I'm gonna have ed luson
later in the week about the new book. It's a
big about doctor Brazinski as the National Security vis It's amazing.
It's like Shakespearean for half of it between Kissinger and
brazils kids. But hit me, what we threatened to do?
When was this we threatened to do? What this was?
Speaker 5 (29:21):
This was nineteen seventy four, So the carrot was priced
in dollars. Everybody needs oil there for everybody needs dollars,
and we'll get what we'll give your security umbrella as well.
That was the That was the carrit That was the process.
What happened hold it?
Speaker 2 (29:33):
We had just did hold it records records. We had
just screwed these guys, hadn't We just gone off the
gold standard? And this is the air ball Olimbarger all
is because of this, because they realized, hey, they're going
to start paying us in wait for it, Fiat currency, sir, Well,
but that was you're right.
Speaker 5 (29:49):
See that was nineteen seventy one. But that was exactly
the point, which is, hey, if your stories, why don't
I just pump oil, you know, jump the dollars and
buy gold and you know, put the gold in the vault.
How do you get the dollars in circulation? It's it's
about the quantity of dollars. It's about the circulation of dollars.
And that was the key. Everybody in the world was
going to need dollars that you couldn't buy oil and gold.
Speaker 2 (30:09):
Now that was a.
Speaker 5 (30:09):
Possibility, by the way, the Sardians could have said, hey,
give us gold and we'll sell you the oil. They didn't.
They said we'll sell you the oil for dollars, and
that was the petro dollar court. Now, by weight of gold,
the dollar dropped ninety five percent from nineteen seventy one
to nineteen eighty. Gold went for thirty five dollars an
ounce to eight hundred dollars an ounce, So if you
use gold as your yardstick, it was a ninety five
(30:30):
percent evaluation of the dollar. And the moral of the story,
just have some gold, but you also need oil, and
you also needed dollars. So we took the plan basically
the invasion plan and we leaked it to the Chicago
Tribune and the Sardis read both sides of the equation.
They said, okay, we'll do the petro dollar cord. But
my point is it's still in place. Now we may
(30:51):
be getting close to petro dollar two point zero, and
obviously Scott Besson's honey would be on slow down.
Speaker 2 (30:57):
I want to make sure that. I want to make
sure hang on to make sure Steve Bannon understands this.
You say it's in place, but the Saudi's cutting out
put deal with the Chinese to take it, and you know,
to take the currency risk and figure it out. The
Persians did it with the Chinese, not the petro dollar.
The Saudi's currently wrong, done a forty year deal with them,
not the petro dollar. I think the UAE, our good
(31:21):
buddies there, did one with Mody and India our good
buddy there also, not I mean away from the petro dollar.
Am I wrong there? Haven't they always started seeing the
cracks in the system.
Speaker 5 (31:32):
Well, you're right, but they are cracks. But that's the point.
That's why it's time for Petro dollar accord two point zero.
Let's get back to where we were and that's one
of the reasons the President is in Stardi Baby meeting
with MBS. So yeah, but you're right, Steve, But the
amount of Chinese you want that the Stadies took for
oil is miniscule relative to the overall market. And they
(31:52):
don't want to you want, like, what are you going
to do with do you want? I mean, you know,
buy some Chinese manufacturing goods. Finally, they don't even need
that many. But this is the Saudia's way and the
Emirates way of signaling the United States, Hey, you know,
you better get back to being our friend. You better
get back to giving a security umbrella, and you better
get back to, you know, maintaining the value of the dollar.
(32:14):
And then well, you know, they say, that's why I
called Petra dollar two point zero. It does need refreshment.
It was never a treaty, by the way, it was
a memo, which at least of the time it was classified.
I don't I think that's ever been revealed. But you
don't need a treaty, you just need a firm handshake,
and they can trust Trump. But that's one of the
reasons hees there, and the idea that oh, this is
(32:34):
just a business trip or whatever. Well, yeah, but it's
all dollar base. That's the thing. So the Saudis will
still sell oil to the Chinese, but they'll tell the
Chinese you have to pay in dollars. That puts the
pressure on the Chinese because how do they get dollars?
They sell stuff to the United States. What are the tariffs? Well,
they were one hundred and fifty percent two days ago.
Maybe they're thirty percent for the next ninety days. But
(32:55):
this is all This is a very complex game, and
the Russians are involved. But the US, by stre think
the relationship with Saudi Saudi Arabia going to Petro dollar
two point zero puts the pressure on China to basically,
you know, reduce their tyrists and meet some of the
Trump's requirements. Otherwise they don't have a source of dollars.
Speaker 2 (33:15):
The geopolitics here, there's actual discussions behind the scenes in Turkey.
I think an instant bul on Thursday, this supposedly is
a Lensky potential putin meeting. Trump's kind of dropped it.
I know people are actually thinking this through that Trump
may actually go by, which would be historic. Walk me
through the geopolitics. We've got the Larry Fins. We've got
the investments and we'll come back to that in a second.
(33:36):
But the geopolitics all, you know, they had, They had
the pomp and circumstance of meeting the president. You had
the beast surrounded by the cavalry of the Saudi Rural
Sardi Army. I also want to tell mister Hollins and
mister Holland's opens. I think there's a job opening this
afternoon for a BAN leader in Saudi Arabia, probably looking
(33:56):
for somebody from an American high school to go over
and teach the guys. Let's take another crack at that
national anthem. Good effort. No, it's hot and the instruments
are hot, but got to do better. What's the geopolitics
of this records.
Speaker 5 (34:09):
Well, basically the meeting you said supposedly a meeting. Yeah,
I think that's the right adjective. Selenski, you know, threw
down the stair. I'll go to Istanbul and Putin shows up.
Putin's not going to show up. Now, if Putin shows up,
Trump may go, that's correct, But Putin's not going to
show up because Putin, because what Selenski wants is an
(34:31):
unconditional ceasefire. Show me a party, Show me a case
in the history of the world where the side that's
winning the war winning the war which Russia is agrees
to an unconditional ceasefire. Putin has made his turns clear.
Putin laid down terms before the special military operation in
twenty twenty two. He laid them down again, same terms
as a speech to the Russian Foreign Ministry last summer
(34:54):
summer at twenty twenty four, and he'll repeat them whenever
you like. Denossification D military is a no NATO. Russia
takes the four provinces east of the Neighbor River basically
plus Crimea. And I said, that's basically the deal. Trump
could have that deal tomorrow. He you know, maybe Putin
will throw in a couple of sweeteners just to say face.
(35:16):
But why should Putin agree to anything less? And what
strikes me is that the West, the collective West, are
basically NATO and the United States are very good at
talking to each other. You know, the other day it
was a starmar and mccron and Mertz German Chancellor of Germany,
met with Zelenski. So what we're talking to each other,
who's talking to Putin, who's talking to labrav Now, I
(35:36):
know white Koff has been out there, he's met with Putin.
That's that's very constructive. But they cook up all these plans.
They lead him to the you know, the Financial Times,
in the New York Times. They create a narrative. It
amounts to nothing because no one's addressing Putin's points now.
But here's the importance of it. If we if we
could end the war pretty much on Putin storms because
he won the war. That's the point. You win the wars,
(35:57):
you get to keep stuff. But if we could get
that behind us, then Russia is instrumental helping with Iran.
And who wants No one wants to war in Iran
except you know, Lindsay Graham and a few other warmongers.
Speaker 2 (36:09):
But well, we do it do You had Frank on,
we had Frank Gaffie on your say, making the case
for unilateral Israeli, which I love Frank, but the audience
wasn't buying. It didn't make less sense. But that group
that's meeting today, because this is the world's you got
Larry Fink, you got Schwartzman, you got every big you know,
uh swinging whatever from from New York down there. You
(36:31):
got everybody from the golf Emirates to talking about trellion
dollars coming here investments, which look, as you know, I
don't love these sovereign wealth funds putting money into the
United States companies are bad enough, but the foreign capital.
But President Trump's focus on a trellion dollars. That group
and they and the Amiradis and the Saudis hate the Persians.
But I don't see any group over there that has
(36:54):
any interest even in thinking about or talking about the
Israelis going to take a take a bombing run on
the on these on the on the nuclear on the
sites that they're working on this uh, on the nuclear program,
do you Jim records?
Speaker 5 (37:09):
Uh, I don't think that group expects that. I agree
with that. Now if you asked, will the Israelis do it?
When the Iranians get to the point where they have
not just a nuclear device, you can blow something up.
That's a big deal, by the way, but it's not
just the nuclear advice. You have to weaponize it. You've
got to get it on a warhead, the missiles have
to work, et cetera. But when the Iranians get close
to that point, the Israelies will attack Iran because it's
(37:32):
sex estential, it's you know, they have no strategic adapt
You could basically wipe out all these rallies, in effect,
most of the Jews in the world if that happens.
So they're not going to let it happen. So the
question is how do you avoid that? Will you avoid
it by getting the Iranians to agree to verifiably hold
off on any further development of the Iranian enrichment? How
do you do that? You get the Russians involved? Uh,
(37:54):
and so, But that's where this whole thing falls down.
Over the Zelenski who is you know, people say, why
does it put and kill Zelenski? Why would you if
you're if you're if you're in a war and your
enemy is being run by an idiot, why would you
kill him? You want the idiot to be in charge.
But you know, and Trump is, you know, kind of
maybe at the end of his rope with this whole thing.
But you have to basically settle the war on Russia's terms.
(38:16):
That's not a cave in. It doesn't make Trump a puppet,
None of that's true. Read the History of Venice nine
hundred years.
Speaker 2 (38:23):
Hang on, stop hangover second hangers side because they're gonna
be blown us up on social media. Rucker is just
another running dog for for Putin UH And this is
all the Tucker Carlson, Kurt Mills, Steve Benn and you know,
love love Russia crowd, make your justification. Why is that
not Why is that not just colt? Why is that
the President United States just cap telling to the Russian demands?
Speaker 5 (38:45):
Sir? Two reasons. Number one, Russia is winning the war.
They're going to win the war. It's not over, but
they've decisively won the Warkraine. Ukrainian armed forces are in
full retreat. They've been decimated. Look the Bradley fighting vehicles,
the Leopard tanks, the Challenger tanks, the Abrams tanks, they've
all been left burning on the battlefield. Why don't you
(39:06):
hear about the F sixteens flying around because they get
shot down by four hundred of Russian ALLI missiles? Was
one in Russianika? Did you not get the message? The
RUSSIANIC missile has made tactical nuclear weapons obsolete because you
can do just as much damaged without the radiation. Russian
only won the war. They're going to stop at the
neighbor river. But there's nothing stopping them from going to
(39:27):
the English channel. Basically because NATO has shown that their
weapons don't work. It's not even a question how many
weapons you give them. They don't work. Asolete they're selling
them stuff. So we said this from day one.
Speaker 2 (39:37):
When Lensi's trying to get some security guarantee, I can't
pammer it. I go on British TV and say, yo,
you guys combined are not gonna be able to put
up twenty five or thirty thousand combat troops. And guess what,
because they're talking one hundred thousand and fifty thousand. They
finally passed the hat around. They can't. They come up
with the security force at most twenty five thousand, which
is a true NATO is not real. It's total performative.
(40:01):
And we talk about these three guys in the train,
uh and what they were doing with the little bag
of why who knows. That's another whole separate issue. But Rickards,
I'm hold you can you can you stick around for
one more one more block? And I've also got the
great Dave Bratt with US. Brat's up in the bullpen.
He's got charts today, Bratt does as he usually does,
(40:21):
John Solomon's on Tulsa. Gabbard is given an exclusive comments
statement to John Solomon over just the news that is
going to start setting things right about the domestic surveillance
of United States citizens who they consider extremists. Yes, that
would be Magus. So we got that all coming President Trump.
If we get this business, uh, I think it's not
(40:44):
a lunch now, guess it's a dinner only Rickards. Remember
that Rich Carlton is where they were MBS put off
the Saudi chiks that have been shaking down people and
not give them a little something for the effort. Back
to the Royal Family. Shark commercial break back.
Speaker 4 (41:00):
Use your host, Stephen k Ban.
Speaker 2 (41:05):
Okay, take your phone out, Birch Gold. Just go Bannon
b A N N O nine eight nine eight nine eight.
You get the ultimate guide totally free of how to
invest in gold and pressors medals in the era. Let's
change that the age of Trump. Do it today. Talk
to Philip Patrick and the team. Also, we're gonna need
you the ramparts not today because we've got to figure
(41:27):
this out. There's going to be a markup of ways
and means on the tax side, there's gonna be a
mark up over at the energy and commerce. I think
on medicaid. We're all over this, but we're trying to
figure this thing out. So make sure that you're smart
and weaponized when you get up on the ramparts. But
what we don't need is you occupied by having a
hard money lender, like either own your house or have
a big old second mortgage. Un because somebody got into
your got into your title. Home title lock dot com
(41:49):
triple lock, one million dollar protection what is it twenty
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If all else one million dollar restoration program. You got
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(42:12):
it out today. Just go check it out. All we
asked you. Just go check it out. Talk to Natlie
domingusy if it makes sense for you. You cannot be
occupied that happens. Your life changes, folks, because ninety percent
of your net worth is tied up in that title
for your real asset called your home. Jim Rickards brother thoughts.
There's so much going on, not a better time to
(42:33):
have a guy like you around. What are your thoughts
of what's happening?
Speaker 5 (42:36):
Yeah, you mentioned Tulsi Gavacy. She did something a few
days ago that was momentous. She declassified a document that
was designed to identify and deal with domestic terrorists. And
by the way, this talking was crazed on to the
Biden administration and would make that clear. She declassified it.
By the way, I live in New Hampshire and I
became a Tulsia fan. And when she ran in twenty
(42:58):
twenty for president, you get to meet all the candidates
up in New Hampshire. It's all retail. She went surfing
in New Hampshire on New Year's Day. The water Temperatu.
She was like fifty degrees in a dry suit, So
I said, that's bad. So I am a big fan
of Telsea and I did meet her and spend some
time with her. So she did classifies this document, and
I have a lot of experience with classified documents. They
used like a black magic marker to cross out some
(43:20):
of this stuff, but I could read right through it.
It just kind of see what it was. It was
classified secret It wasn't top secret, but it was secret
no foreign which means no foreigners don't share this intelligence
for foreign intelligence services such as the Five Eyes. So
what was it? It was a blueprint for doing with
domestic terrorists. And I'm like, okay, that's important. I'll read that.
Who are they? Well, Ms thirteen, I know they're from
(43:41):
l Salvador, but they're here. TRENDERI Ragua, I know they're
from Venezuela, but they're here. Isis you know, Biden, open
the border, let everybody. So these are all top organized
domestic terrorists, not to mention Antifa and BLM. So I
has I'm reading through. It doesn't mention any of them,
not one do they target? You got to tell Page
(44:02):
twenty in the fine print the military and list of
military didn't say, you know, convicted of a court martial
de very, just listed military government contractors. That's probably twenty
million people. It talks about the need to enforce social cohesion.
Those are the exact words. What is social cohesion? Which
means if you're MAGA, you're not socially cohesive in the
eyes of Merrick Ireland or Joe Biden. And it talks
(44:25):
about gun control. You know we this. The Supreme Course
has been pretty clear on second amendments. So I'm like, okay,
this is a document who basically mobilized taking all of
the government approach, mobilized the FBI and the intelligence community
and other resources to identify anyone who disagrees with the
Biden administration. And if you just happen to be in
the military, moms protesting at school board meetings, parts of
(44:48):
the Catholic church, if you know I've been I've been
to mess all over the world twenty different languages. But
if you happen to go to a Latin mess, which
is popular, somehow that marks you down. So this was
this was despicable. It's about swear for but I plaud
Telsea for declassifying it making it available. And I think
we're going to see more like that.
Speaker 2 (45:06):
This is Jim because Solomon's going to come on. He
broke and then they gave uh special access to him
on this. He's going to walk us all through this.
This is my point. Where's the investigation on this thing?
I mean, this has got to be we got to
get you know, they're going to have this big book
coming out by Jake Tapper, and I think Tomlinson over
(45:27):
at actually is now he was at Politico. Thompson, the
two guys that wrote this big expos a massive X
jose on Biden today they dropped it. You know, Biden.
They were thinking about putting Biden in a wheelchair for
the second term. You saw him at the Vatican for
the posting. I mean, he's looks like he's one hundred
years old. Why is there not this should be such
a public, massive outcry in such a huge investigation. Where
(45:50):
is it? Rickards?
Speaker 5 (45:52):
Well, it's a good question. You have familiarity with the
intelligence community. Sy. The one thing they drill into is
we're not law enforcement, we're intel diligence.
Speaker 2 (46:00):
You know.
Speaker 5 (46:00):
So okay, well who is law enforcement? Well, let's see FBI,
It's Department of Justice, pam Boni now and Cash Hotel. Now.
They've got a pretty full play. I take the point,
but yeah, somebody was behind it. And when you have
a twenty five.
Speaker 2 (46:13):
Holy hang on space to hang on, Jim, they got
a hell of a full play. I'm not talking, but
shouldn't this be a priority? Look, it's hard. You've got
to go pretty deep in the woods to hit your
trip wire to get you to say, hey, this is
outrageous given your forty years or fifty years experience in this,
and you've said as one of the most outrageous and
not the most outrageous thing you've seen on domestic spying
(46:35):
on American citizens. Isn't this a priority to make sure
this can never happen again and hold accountable those that
did it.
Speaker 5 (46:43):
Yes, this was a blueprint for mobilizing the intelligence community
and the FBI, which is part of the intelligence community,
and law enforcement to basically attack a large segment, maybe
more than half of the American population. Again, you got
to be a bit of a geek. You got to
read all twenty five pages. But it's there, so you know,
they used jargon, they obscure it, they have statutory references.
(47:04):
But yeah, let's have a congressional hearing. Let's find out
who wrote it. If it's classified, then the person who
wrote it doesn't have any particular protection. Who put that together?
Who is behind it? We know we sort of know
it wasn't Biden. I mean, Biden was present. He's responsible,
but he was you know, I don't know why everyone said, gee,
we knew by twenty twenty four that he wasn't all there.
Speaker 2 (47:23):
I mean, what was in twenty twenty he was storrying.
It's it's the Praetorian Guard that put him in this fume.
Where do people go to get to the strategic intelligence
and the free offer of the book money GPT where
they go today?
Speaker 5 (47:36):
Yeah, thank you, Stee. We have our own landing pages
records warroom dot com. That's records warroom dot com. You
go there, you'll find we've got recordings. We can subscribe
to our flagship newsletter, Strategic Intelligence. A lot of the
issues that you and I discussed on war Room we
cover in great depth in our Strategic Intelligence publication.
Speaker 2 (47:56):
So records warroom dot com. This is something read by
chairman and CEA all over the world. It's like the
Financial Times. You want to read with decision makers of
reading get strategic intelligence. Jim, I'm going to publicly now
bug you to come back on later in the week
because there's so much going on. President Trump's historic four
day trip to the Middle East and maybe even topped
off with a trip to Turkey sit down with Putin.
(48:17):
Never know, Jim rickards social media? Where do they go
to get you on social media?
Speaker 6 (48:21):
Sir?
Speaker 5 (48:22):
On exit at Real Jim Rickards at Real Jim.
Speaker 2 (48:25):
Rickards love you, brother, Thanks for taking time today, historic
day and the Trump second term. We've got Dave Bratt,
John Solomon's going to be here, folks. This thing that
Tulsi did and unleashed are put out for the people
to see. It's got to be a priority. This is
what we cannot have a constitutional republic if you have
(48:47):
the Praetorian Guard, the deep state that can do this
short commercial break, take you out with the right stuff,
John Solomon, Dave Bratt, next in the world,
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