Episode Transcript
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Speaker 1 (00:11):
You're listening to the Buck Sexton Show podcast, make sure
you subscribe to the podcast on the iHeartRadio app or
wherever you get your podcasts. It's the art of the
deal on a global stage, my friends, Donald Trump showing
people how it's done. Market surging today all of a sudden,
the doubters and the haters and the losers are feeling
(00:34):
like maybe once again they counted Trump out when he
was just getting started. So what do I have for you?
First of all, the big news of today, other than
the fact that I'm going into the hospital to become
a dad for the first time, which we'll talk about later,
big news of the day is the Dow a Dow
Jones up twenty eight hundred points as I am talking
(00:58):
to you right now. That is up seven percent overall,
which is a huge bomp, a huge surge in things,
and it's looking good. My friends. Here's why it all
makes sense when you break it down, because Trump has
paused the tariffs for ninety days, the major tariffs for
(01:18):
ninety days against most countries. It's going to be kind
of a ten percent baseline tariff that he wants to keep,
but ninety day tariff pause for most countries, although China,
he says, is going to have to learn what's up,
and that's from well, that's what he talks about here,
because of the lack of respect that China has had.
(01:41):
This is Trump on true social lack of respect China
has shown to the world markets. I am raising the
tariff charge to China by the United States of America
at one hundred and twenty five percent effective immediately. At
some point, hopefully the near future, China will realize that
the days of ripping off the USA and other countries
is no longer sustainable or acceptable. So what this is
(02:02):
turning into is a art of the deal extraordinaire, where
you have all these different countries looking to reorient their
trade agreements now with the United States, allies like South
Korea and Japan, We're going to figure out a way
to do business with them so that it benefits all parties,
and everything's going to be good. But China is going
(02:25):
to have to figure a new way forward. They're not
going to be able to continue the same kind of
shenanigans that they've gotten away with in the past. And
that makes a whole heck of a lot of sense
to me. You know, it's really you have to separate
out even with trade allies and enemies. You know, we
think of allies and enemies in a national security context.
(02:47):
But the United Kingdom, we're not worried about the United
Kingdom trying to invade the United States, subvert and overthrow
our system of government. We don't view them as a competitor.
We view them as a friend on the world stage.
True of a lot of other countries too, too, Canada, France,
and New Zealand. I mean, these are countries that we
(03:11):
know see the world largely in this in least the
most basic ways, the same way that we do. In
the case of some of them, we even share a
common language. Not France, Spain, Germany. Those are great countries
as well that we have a good relationship with sound
like Trump, very good relationship with them. But when you
look at China, the considerations are more than just who
can make the cheapest stuff the fastest. And that's what
(03:33):
I think really comes to the forefront here. China has
been when people say, oh, they're not ripping us off,
they make this stuff, we buy this stuff, everybody wins. Well,
hold on a second, if that's true, what about all
the intellectual property theft, as in stealing our tech and
then making stuff with that tech that then they make
(03:53):
with state subsidy much cheaper than what we can make
it with because they've taken the secret sauce. If you will,
why do we have intellectual property protections in this country
if it doesn't matter, Well, obviously, because we're trying to
establish rule of the road that will encourage more research
(04:14):
and development, that will encourage more intellectual property discovery, and
China just violates that. This is one example. China just
rips off our stuff and then makes it. And you say, well,
hold on a second, why is that fair? It's not,
And they've agreed not to do that, and they are
breaking their word time and again. China has gotten very
(04:34):
wealthy as a country, and it has done so with
a lot of tariffs in place. Now you could say
that they'd be wealthier without the tariffs, but I think
the Chinese have a pretty good sense of what their
best interests are because they do pursue often a zero
sum game. They pursue their interest at the expense of
everybody else. So it would seem to me to be
(04:57):
quite presumptuous for anyone to think that they know better
than Cheshin paying what is going to help the Chinese
strategic vision of economic and events military dominance. You know, Oh,
they don't know what's good for them. That's very rarely.
Is that an argument that I think you'll see winning
(05:19):
the day when you're talking about major power conflicts, that
we know better than they do. It's not that countries
don't make mistakes about their interests, but assuming that we
somehow have just a better pathway than they do. China
has gone from a GDP per capita in the hundreds
to now in like the fifteen thousand dollars range in
a pretty short period of time. So they have become
(05:41):
dramatically wealthier as a country. And yes, they've made a
lot of stuff and they've a massive workforce, but they've
also been doing it at the expense of a lot
of other countries competing in the markets. Israeli citizens look
for the return of normalcy in their country. It's hard
to do when there's seaspar negotiations happening, when there's increased
(06:02):
tensions between Hamas and the IDF forces. Nearly eighteen months
after the Hamas invasion and brutal attack, life is not
normal for everyone in Israel. As israelis work hard to
return to a life of normalcy, the International Fellowship of
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(06:46):
The nature of competition, I think this is, you know,
in competition, there have to be winners and losers in
some ways. Right now, there can be competition that is friendly,
and there could be competition that is a winner take
all or ultra high stakes. We know there's differences even
among competition, but you know this notion that everybody wins
there's no downside in trade with China. Is just that
(07:10):
that's a fallacy. That's impossible. There's no way that that's
the case, because why would China then not just do
what we want them to do and have no trade
barriers and play by wto rules. As I've been saying,
If China is in the World Trade Organization and part
of that is agreeing to operate its businesses and its
economy in a certain way, why not just do that
(07:33):
if they didn't get some advantage from breaking those rules.
You can just apply logic to this and see that
the free trade religion that a lot of people espouse
is divorced from the reality of what's actually happening in
a lot of these places. So I think that the
ninety day pause from Trump is a good thing. Very
(07:53):
encouraged by this, and I think that the market reaction
to it shows you that they the market wants stability.
The market wants a sense that what's going on here
is following some kind of a plan and a strategy.
And I think the Trump's strategy here has been brilliant.
He had to convince the world that he was willing
(08:16):
to go to the mat on this. You know, you've
got to to have leverage. People have to believe you're
willing to pull the lever that if you do X,
I do Y, if you do wid Z, they have
to think that that's real. If they figure that it's
all bluster, nothing changes. So he had to be willing
to get some rattled markets going or else. Everybody with
(08:39):
thought it was just bluster. But now that bluster has
turned into Okay, okay, you're serious. Let's talk this thing
through with our allies, and then with China. It's China,
no more free paths view on this stuff, and look,
is that going to result in some economic dislocation in
the meantime? That could mean that things get more expensive,
some consumer goods get more expensive for example. Yeah, I
(09:00):
think so this is not going to be pain free.
But as long as it makes sense, there's a strategy
and there's an endgame that we can see in that
the market can see, I think it's all going to
be fine. And I have never lost faith in Trump
on this. I have said it on the radio show.
I said it just earlier today before the Good News
broke about the ninety day pause. I said, I am
(09:24):
right or die with Trump on this one. I see
what he's trying to do. It makes sense to me.
He was right in his first term when everybody else
was wrong on the US Mexico Canada agreement. When I
see everybody, I mean the so called consensus out of DC,
and he was willing to take the heat and get
to a place of real change and positive change, you know,
(09:44):
to make things, to fix things. You can't do things
the same way. To alter the status quo, you can't
do business as usual. This is a tautology. It's very obvious,
but a lot of it's sort of like politicians who
actually keep their word. Is a revolutionary idea, Well, it
should be the most obvious thing, but in fact that
is not the case because of the habit that we've
(10:05):
gotten into. And I think the habit we've gotten into
with our economy is the way things are is the
way things they always must be. We have to spend
too much, we have to be at the mercy of
other countries trade policies with regard to our industry and
our national security concerns. And Trump is changing that, and
I think it's a very very good thing. You know,
(10:26):
it's also a very good thing to look to the
future and take action. Now. Look at the price of gold, Okay,
if you want to create some stability for yourself owning
some gold when you see it, Yes, I know it's
hitting all time highs lately, but there's a reason for that,
the trajectory of gold over the last thirty years. Look
at it, Look at that price line, look at what's happening.
(10:49):
Gold is good, it is solid. It as a store
of value. And Birch Gold Group is who I turn
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of money in it, but you'd like to see it
(11:10):
maintain value and grow over time and you can just
set it and forget it. That's where converting that IRA
or four one k into a physical gold IRA makes
so much sense. Also, you can just buy physical gold,
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Go with Birch Gold. That is who you should be
getting gold from, and I would take action on it. Now.
I think the price of gold is only going up.
Just look at look at a chart of gold. They
can't they can't just print gold, right, I mean, you
have to mine it. There's a reason why gold historically
has been a store of value. So I would go
(12:11):
check that out for yourself. Today. Something else that got
my attention, and it is something that is unsurprising to
me but still galling to see it. The acting head
of the IRS resigning because the Trump administration is mandating
sharing of IRIS information for the purposes of immigration enforcement.
First of all, why aren't we taxing the remittances? Let's
(12:33):
put that out there. Pretty hefty tax on remittances. I
think that would be a good thing. I'd like to
see that because that's money that's not going into the
US economy, right, that's money that's going elsewhere people who
aren't supposed to be here in the first place. So
I don't like that. Beyond that, though, beyond that, the
(12:54):
law is supposed to be the law, and the IRS
is involved in let's be honest, it's involved in law
enforcement essentially. That's what tax law. It's the tax law authority. Yeah,
they'll send the FBI to arrestue. But IRSA are the
ones that flag you, and they're the ones that you
do your audits and everything else, And that the head
(13:14):
of the IRS would think that they should have the
right to demand receipts of a restaurant you went to
two years ago that you wrote off as a work
dinner or something. They can demand that of you, but
they won't share information about the returns. That effect that
(13:35):
that show who's illegal and where they are is outrageous.
It just goes to show you that even in the
apparatus itself, there are a lot of clearly Democrats who
think that illegal aliens are a special instead of being
a class of illegal, a legal actor in this country,
somebody who is violating the law, not just with their status,
but often with social security fraud, using fake social security information,
(13:57):
all kinds of stuff, that they are a special instead
of a special class of criminal they are. And again
I understand a lot of them are hardworking people and
they're not doing, you know, evil crimes, but they are
violating our laws and they do so with impunity. Are
you an evil person if you, you know, shave a
little bit off your tax return and Uncle Sam gets
a little less of your money. No, you're not an
(14:18):
evil person, but the I R S will say you
better pay fines, that we're throwing you in prison, and
maybe they throw you in prison anyway, depends on how
big the shaving of your tax return, if you will
ends up being. So you don't pay the I r
S enough, you can go to prison. But the IRS
doesn't want to help with immigration enforcement because those people
are allowed to break the law because because there's some
(14:40):
bizarre left wing we are one world humanitarian religion that
they belong to. It's appalling, it's shocking, and it should
it should enrage you, and ranges enrages me. And I'm
very happy to see that Trump is saying no more
of that nonsense. And with that, my friends, I gotta
tell you this is it for me for this week,
(15:01):
because I'm going to the hospital to night my wife.
We are expecting the birth of our first born, a
baby boy. We are very, very very excited about it.
I appreciate all of the advice and well wishes and
hugs and everything else. I do it a long time,
forty three years old, becoming a dad, so you know,
I'll be grandpai aged when my kid graduates college hopefully,
but you know, better late than ever on this one.
(15:24):
We're excited to start our family, and we're hoping God
will bless us with a few more down the line too,
or you know, one or two more would be really nice.
But first things first, let's get this little guy out,
and I will have updates for you certainly on the
podcast next week, which might be Monday or Tuesday. See
how it's going here. I'm gonna take a couple of
days off for sure to help my wife after the pregnancy,
(15:45):
but thank you all of you, and we'll have baby
photos and everything to share next week. Until then, Shield Hime,
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