Trump Unleashes on Banks!🔥CNBC Call Crashes Market📉

The U.S. Bureau of Labor Statistics’ July’s jobs report revised previous months’ figures down so dramatically that U.S. President Donald Trump called it “RIGGED” and “CONCOCTED.” Later, CNBC held a phone call interview with President of the United States Donald Trump on CNBC’s “Squawk Box”. Debanking is back in the spotlight this week after President Trump said Tuesday that the country's two largest US banks, JPMorgan Chase (JPM) and Bank of America (BAC), denied him as a customer.

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00:00 Intro
00:09 Sponsor: Tangem
00:35 Trump talks tariffs
02:05 Trump: China deal dead?
03:10 Trump nukes markets
03:40 Trump: Trump off the rails
05:32 Trump approval rating
06:00 White House could wage war on anti crypto banking
06:15 Trump on being Debanked
07:55 Robinhood banking
08:45 Wen AAVE?
09:15 Robinhood x $USDG
10:41 Robinhood vs Coinbase
11:25 XRP / Strobe Finance
12:01 CNBC: Restaurant Earnings week crash incoming
13:45 Rate cut September
14:40 Solana seeker shipping
15:25 Outro

#Crypto #bitcoin #xrp 
~Trump Unleashes on Banks!🔥CNBC Call Crashes Market📉~
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Episode Transcript

Speaker 1 (00:00):
All right, let's jump into it today. Of course, this
is Trump attacking the banks. We're going to break it
down for you. My name is Paul Bher. Welcome back
into the show. I do want to thank our sponsor,
and that is Tangum. This is a place where you
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(00:22):
as well. One of the most secure waldits out there.
So make sure and use our link down below get
a little bit more of a discount and always helps
the channel. We appreciate it. All right, let's get into
a couple of points I want to hit on first.
The EU has now halted retaliatory tariffs. This is good
news as they finalize trade deals with the US. So
Trump is over there working some deals out, but he

(00:42):
also goes on and talks about all of this happening
and what it means to the market in general. And
this was an interview that was done on the squawk
Box today. It is a voice call that he called
into the Squawk team and started to break down some
of this. Listen it.

Speaker 2 (01:00):
You talked again about this idea of dividends for middle
and lower income folks that might come off of the tariffs,
meaning the revenue that's coming in from the tariffs, how
that might work.

Speaker 3 (01:10):
So we're taking in trillions of dollars, Andrew, if you
look at Japan European Union, six hundred and fifty billion dollars,
think of it. And they're going to do this and
they're going to do that. If you did business in Japan,
they would arrest you. You're not allowed to do any business.
And now Japan has totally opened up. Other things that
do very well here will also do well there. You'd
be surprised at some of the great things we make.

(01:32):
She said, no, no, no, we don't take any of
you guys. I said, that's right. That's not nice. I said,
that's not right. That's not a nice thing. I'm gonna
and they're being and they're being present.

Speaker 2 (01:43):
Mister President. What kind of teeth though or in those
in those investments. We have been trying to figure out
the details on that, mister President's.

Speaker 3 (01:49):
Well, there are no the details are six hundred billion
to invest in anything I want anything. I can do
anything I want, all.

Speaker 1 (01:58):
Right, So I don't know if that is accurate. The
other thing that We'll get to that in a second.
But I do want to play another clip because this
is talking about the China trade deal. And this one's
important because it gives us at least a little bit
of an indicator as to where maybe the negotiation is.
Right now, take a look.

Speaker 4 (02:15):
Will there be a meeting between you and prison? See
anything planned at this point?

Speaker 3 (02:18):
So the fake news announced Donald Trump wants a meeting
with China. No, I didn't want it. No, he asked
for a meeting, And I'll end up having a meeting
before the end of the year, most likely if we
make a deal. If we don't make a deal, I'm
not going to have a meeting. I mean, you know what,
what's the purpose of meeting if we're not going to
make a deal. Where are we now with China? By
the way, because I kept adding more and more, they
said Surrey up to one hundred and forty five percent.

(02:41):
I said, you gotta be kidding. So I sort of
had to bring it down a little bit. But China
was collapsing. It's it's not imperative, but I think we're
going to make a good deal. No, I don't know
an eight it's a nineteen hour flight. It's a long flight,
but at some point, and they're not too distant, sweet,
I will all right.

Speaker 1 (03:02):
So just that statement alone, I think started to tumble
the markets. If you look at bitcoin, just from this
is on the four hour, over these statements, this big
red candle right there holding it around two percent down
on bitcoin eth kind of in the same vote with
a big red candle down on the four hour, all
coming in I think because of this squawk box interview,
because the President was a little bit disheveled, he was

(03:25):
in a lot of different directions trying to defend and
I think they did a good time or a good
job of at least asking some questions. Whether they were
going to get any answers was the question. And I
want to go to one more clip here because this
is Trump kind of going into a lot of different
places to try to explain what's going on in the economy.

Speaker 4 (03:45):
Take a look here we go.

Speaker 3 (03:48):
It's a highly political situation. It's totally rigged. Smart people
know it. People with common tend to know it a
lot of people like you.

Speaker 4 (03:57):
Let's move on to this. Which number do you believe
at this point the chances of a rate cut soared
because of these numbers? Do you not believe the current numbers?

Speaker 3 (04:06):
Now what I want? I don't want that. I wanted
it a year ago. I wanted it a long time ago.
J Powell is a highly political I mean, that was
a rigged election.

Speaker 4 (04:16):
We can't litigate that.

Speaker 3 (04:18):
We can't re litigate that rigged election.

Speaker 4 (04:23):
I have to check on that, and you know they
expect Jacket. Why don't you check it? So you did
get the highest number of votes in Texas, So that's true.

Speaker 3 (04:32):
But when you're talking to you, don't have to say
anything more, Joe, I got to say that. No, don't
say anything more. Don't qualify it by second. No, I've
got the highest.

Speaker 4 (04:42):
Number of votes you did, and I'm moving on.

Speaker 3 (04:45):
I have the best poll numbers I've ever had. You
know why, because people love the tariffs.

Speaker 4 (04:50):
You don't have the best you ever had in overall
poll numbers, you do.

Speaker 3 (04:53):
I have the best ball numbers I've ever had. Among
the poll numbers where I'm seventy one percent.

Speaker 4 (04:59):
Those are among were among Republicans, No.

Speaker 3 (05:02):
No, no, no, among Republicans ninety four and ninety five percent.
You don't put that on because I think CBS is
a shade. Actually CNN's a shade better than NBC. I
think NBC is probably the worst of them all.

Speaker 1 (05:15):
All right, So from that clip you can see President
Trump was all over the place in trade deals, the tariffs,
the issues with inflation, the rate cuts, the Bureau of
Labor numbers, all of this really went back into one
other thing, and that was always you know, Trump's approval rating.
This corner is from Silver Bulletin, and this shows the
key areas of interest. So this is going to be immigration, economy, trade,

(05:39):
and inflation, all of which have dropped significantly down from
the period of when Liberation Day began. So just remember
all this began around Liberation or Liberation Day in the
sense of where tariffs were established and said this is
where we're going to go. Everything has started to drop
in terms of favorability for this, But it does lead

(06:00):
into the thing that I do want to talk about today,
and that of course, is a White House now starting
to wage war against the banks and especially on anti
crypto banking. Going forward, he did a lot in terms
of now setting up a potential executive order to actually
put some pressure on the bank. Here is a little
bit about that. Take a look.

Speaker 2 (06:21):
You're prepping an order that they say would punish banks
that discriminate against conservatives, including potentially Bank of America. Can
you tell us about that.

Speaker 3 (06:30):
I'll give you me as an example. I had hundreds
of millions loaded up with cash. They told me, I'm sorry, sir,
we can't have you. You have twenty days to get out.
I said, you got to be kidding. I've been with
you for thirty five forty years. That's Jamie JP Morgan jays.
I can't believe it. I've never had anything like it.
And it's not like g You're defaulted and alone. You know,

(06:51):
Jesus if I could understand that, that's different. But there's
no default. I mean, there's nothing but cash. I call
a Bank of America, routinely speak to him, and I
speak to couple of people, and they have zero interest.
Brian was kissing my ass when I was president, and
when I called him after I was president to deposit
a billion dollars, he said, we can't do it. Nope,

(07:13):
we can't do it. So I went to another, one, another,
one another one. I ended up going to small banks
all over the place. I mean, I was putting ten
million here, ten million there, and it's lucky I even
had them. They were doing me a favor. The banks
discriminated against me very badly. And guess what, I'm president?
How did that happen? All right?

Speaker 1 (07:32):
So one point that you kind of compare this to
is remember that we had Brad garling House personally and
within the businesses that was also discriminated against. With these banks,
they were basically shutting these things down. This is kind
of goes all the way back to Chuck point two
point zero. But this, of course could get into an
executive order.

Speaker 4 (07:49):
If it does, this will be.

Speaker 1 (07:51):
A calling, I think, a wake up call I should
say to these banks going forward. Now, with all that
being said, you have to look at, well, where could
pill go? Well, they're going to go to places like Robinhood.
Here is course Robinhood talking about interest in pursuing the
bank charter. They went through their earnings call yesterday. A
couple of points he noted was is we found thus

(08:12):
far that we have all the capabilities available through the partnership, right,
now this is their existing bank, so they can actually
launch on what they have today without getting the charter.
So it was very interesting that this statement went on.
One other tweets that I want to jump into is
the date that all this is going to be available,
which is coming later in the quarter, right there in

(08:34):
that last sentence, later in the court.

Speaker 4 (08:35):
Available to you guys.

Speaker 1 (08:36):
In terms of banking, now, one of the things that
everybody questions is well, what about borrowing and lending? That,
of course is something that may be brewing in the background.
This was a course over on our own x account
where we just simply said, hey, glad Win ave because
this would be a perfect connection if you think about
Morpho and their connection to coinbase and how they've been

(08:58):
able to integrate in to the app that is a
DeFi ecosystem, so it obviously wouldn't need a banking charger.
So that might be a hidden gem that is brewing
under the hood of Robinhood, especially as our start to
roll out everything within the banking component as well. All right,
so I want to go to a clip real quick,
because this is something around USDG and why Robinhood selected it.

Speaker 4 (09:20):
Take a look at.

Speaker 5 (09:20):
This, you know, we continue to support you as DC.
We'll support whatever stable coin customers want. But yeah, us
DG I think has we think has a nice structure
as a consortium where we get the benefits of having
our own coin. Yeah, because if you think about it,
if I was offering you, as you know, a crypto

(09:40):
exchange or wallet operator robinhood coin, your first reaction might
be why would I have robinhood coin on my platform
and why would I endorse that? But if it's something
that's collectively owned, then I think that could be very
very powerful if the participants get to control the reward
in the yield and distribute it accordingly. So if we

(10:03):
bring more dollars into the network, admit more USDG, we
get a disproportionate amount of the awards based on what
we bring.

Speaker 1 (10:14):
All right, So as you can see, mainly what he's
looking at there is the fact that if you kind
of compare this to other platforms like coinbase, etc. That
means that robinhood still has the capacity to retain one
reward capability within it, and also that other platforms couldn't
deny it like if it was a coinbase token or
a robin Hood token. This opens it up a lot

(10:35):
more efficiently to kind of go interoperable around all the
ecosystems out there. So if you look at the current market,
you kind of compare what's happening with Coinbase and Robinhood.
Here's the top analyst saying, hey, I've got a little
bit of a surprising pick. I don't know that it
was a surprise because if you look at the earnings
data on what Coinbase did versus what Robinhood performed, Robinhood's

(10:56):
revenues are exploding. And again this goes back into the
d of customer that I think Robinhood is effectively hitting.
And remember Robinhood is a brokerage, so that gives them
a one up in the market. Overall, their quarter two
revealed forty five percent jump. We're going to see a
lot more of this. We showed Kathy Woods portfolio the
other day exploding into Robinhood. Keep an eye right here

(11:19):
on the robin Hood stock. Further into this, let's go
over to Strobe Finance, because this of course will affect
XRP and others, especially around the potential to earn or
I should say borrow and lend. This is something though
that I think still needs some improvement. If you look
at some of the performance of what they're doing right there,
XRP not really available yet in terms of best rates

(11:41):
of what you can get within STROBE finance. But I
think the point is that this is coming to a
lot of DeFi ecosystems, So get ready banking is getting
ready to I think be unearthed here going forward, and
maybe all of this tied back to a executive order
that could put some more pressures on the bank. Let's
go back to another thing that's putting pressure on the markets,

(12:03):
and that is earnings week. Now, this gets back into
an area I've talked about often because I think this
is the precursor to a market downturn, is how food does,
especially in the restaurant industry.

Speaker 6 (12:15):
Take a look the fast food chains could be, in
our view, could be seeing more compressed earnings than others,
and the reason behind it is that they're more exposed
to deliver income consumer that has a more significant amount
of pressure from a macro standpoint, where the pressure lies
in our view, still remains within the low income consumer segment.
Then we're going to see the evolution of that this

(12:36):
week with the print of four to five major qui QSRs.

Speaker 1 (12:42):
All right, so I want you to pay attention to
what he was talking about QSR quick service restaurants. I
want you to pay attention to those earnings. This week,
McDonald's will be the one to watch. Starbucks is going
to be another to keep an eye on. Chipotle gets
into the fast casual category. But all of them are
interesting because if they start to slow. From what I'm
hearing from a lot of CEOs is they've been holding

(13:03):
back on taking price, meaning raising prices. If they slow
on earnings, you can bet with everything that's happening in
the tariff market, they are going to start taking price.
If that occurs, expect two things. One higher prices. That's
going to increase inflation. We're going right to the core
of the inflation heart and that is food and energy.
The other thing that I think it does is it

(13:24):
has an immediate effect on how the restaurants perform in
being able to hire new people. That's a big category.
You're talking about fifteen million people in the United States
alone that are employed there. If we get a big
hit there, that's a problem for the economy. And of course,
when you talk about that, you have to look at
rate cuts. Goldman sachs now saying that that we are

(13:45):
expecting a rate cut coming in September. Big surprise. You know,
this is something that I've been pressing for a while
because I believe that we should have taken it in July.
All of this data, I still feel has been out there.
You know. It's that we don't have economists out there
that can understand maybe where the real market is heading.
Because all this data is something that I've been talking

(14:07):
about for quite some time, and it's now starting to showcase.
So September we're going to see it now. Yes, that
means we're probably going to see continued inflation. Whether we
start to see inflation rolling toward the end of the year,
I don't know if it's going to be a big acceleration,
but I am expecting a considerable move up by first
of years. So keep an eye on that. Other things,

(14:28):
if you look at the FED decision in September, polymarket
is now skyrocketed to up over seventy percent. Likelihood is
this going to raise to eighty percent in the next
few weeks, I imagine? Other news, is Solana getting ready
to drop in because maybe you can fight some of
this inflation with some air drops. Well, the Seeker is
shipping this week and hopefully you guys are going to

(14:50):
get one. If you get your Seeker, by the way,
drop a comment down alot, let me know that you
received it, and we will do the same to give
you guys an insight. Hopefully we'll get it early enough
so we can show it to you guys. But it
is shipping. Fifty one hundred and fifty thousand devices starting
to go out right now, so be on the lookout
for that. If you look at the performance of where

(15:10):
they have been. Remember these air drops right here.

Speaker 4 (15:14):
This was on the.

Speaker 1 (15:15):
Original Saga that was a six hundred dollars phone. Now
over two thousand, that says today. So will we see
this repeat itself with a new device and see a
lot of new air drops, a lot of new DAPs,
a lot of new cool potential here. This is val
you fight inflation right now, and that is get out
of the system, guys. So if you're not in the system,

(15:35):
we'll jump into our system, and that is the Diamond Circle.
All you have to do is click the link down below.
It's our own private group and it's absolutely free. Follow
me on x at Paul Baron, We'll catch you next time,
right here on The Paul Baron Show.