Episode Transcript
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Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
We just threw, or in the process of throwing twenty
billion dollars down in Argentinian hole. That's right. Our money
is not coming back. See. What's happening right now is
the Trump administration is putting pressure on the two big
to fail banks to come up with twenty billion dollars
(00:39):
to give the Argentina to prop up their currency with.
Just again, just hit new lows, JP, Morgan Chase, Bank
of America, Goldman Sachs. They're having a difficult time putting
this twenty billion dollar loan together because they're trying to
(01:01):
find some collateral for this bad boy. Yeah. The bank
loans are going to be part of the Trump Administration's
plan to backstop the finances of Javier Malay's government with
a forty billion dollar package, including a twenty billion dollar
(01:21):
currency swat. We're buying Argentinian pesos. I'm gonna say that again.
We're buying Argentinian pesos and they're continuing to drop. You're
(01:42):
doing it wrong. Listen. I know Trump is buddies with Malay,
but I don't know how how how much Trump is
versed on the history of Argentinia or the past a
(02:04):
few decades in regards to the losses that have been
taken by investors over the years in this country. I
covered this extensively. This is going back into two thousand
and three, two thousand and four time Merrill Lynch and
(02:26):
Goldman Sachs. We're actually selling Argentinian bonds to the Italians
and Italian citizens and all over your Pendon day everybody
got completely wiped out. It was a complete scam that
we covered. Now we're about ready to get scanned. We're
about ready to get scanned the big banks or not,
(02:46):
they're going to find some way to backstop this. Either
that or you know, you know, Scott Bessett will call
them up and you know, bring Luca Brazzi and make
them an offer that they can't refuse. We're all so
at the same time out buying Argentinian beef. Trump administration
wants to get beef prices down here in the country.
(03:14):
Ranchers here in the United States are pissed. It's bad
enough as it is that our entire system of agriculture
in this country is a disaster. It is, and we
keep patting ourselves, telling ourselves how great we are at
food here in this country when the reality is we suck.
We do. The rules and laws and regulations are obscene.
(03:37):
It's a great stories reading talking about in New Hampshire
the ranchers are stuck with a two year wait list
to process their own beef. There's no USDA plant available
and it's illegal to process it without having that. The
(04:01):
state of New Hampshire is doing the right thing, and
they're going to give the finger to the federal government.
I wish again, I'm a tenth Amendment guy. I wish
more states would give the finger to the federal government.
Say you know what, fine, bye, we won't sell it
outside of New Hampshire, but you know what, we'll process
beef here for our local residents. Yeah, that whole farm
(04:25):
to table thing. Make it happen, Make it happen all
over the country. I used to live. I used to
on a you know, basically a ranch. The ranch. Every
morning cow's going by. You know, my home was on
this right you can hear that cowboys all sorts of stuff. Now,
(04:47):
they had to shut that down because couldn't make money
anymore based upon the government regulation. So they basically turned
the entire ranch into a suburb housing it's own little city.
That's happening all over the country. By the way. Yeah,
(05:08):
I know, we want to, you know, make America great again. Gee,
I don't know. Might that have something to do with
how we source our food? I'm just saying, would be
I mean better if we source our food here? I mean,
(05:28):
we had a story about a month ago. Was it
that the shrimp that the shrimp that they were selling
at Walmart was like radioactive? We were actually sourcing shrimp
from the Indian Ocean. Are you out of your mind?
I mean disgusting, But no, no, that's that's how we
operate here. And again we've got the President of the
(05:51):
United States that can't get questioned on anything unless it's
Thomas Massey and Rand Paul who actually bring these things up.
Anybody else asks him about this, they don't know what
they're talking about. Where's a Trump on one of his
Air Force one flights telling the journal you don't know
what you're talking about. Argentina is dying. Yeah, we're thirty
seven trillion dollars in debt, and we're now going to
(06:12):
again throw away forty another forty billion. Hey, what's forty
billion dollars amongst friends? Not to mention the fact now
we're going to be buying their beef, hitting hitting our
ranchers right here in the face here in the United States. Hey, listen, guys,
you know, I don't know what's going to happen in
the middle I really don't. I really don't. But Trump
(06:37):
is most certainly ticking off a lot of people. You're
a farmer and you can't even sell your soybeans because
of the tariffs set were put on. Then you find
out that Argentina as well is now providing their soy
beans to China and you can't even sell yours because
of the tariffs. Again, I guess there's you know, not
(07:02):
not a lot of soybean farmers out there, So who
cares about them, not a lot of not a lot
of voters as far as their calculation is concerned. Hey,
I'm called like, I see it. Okay, Yeah, you want
to argue the other side of this one, have at
it now? About all we gotta we have to save Argentina.
(07:25):
They're gonna saving Argentina. They got they gotta save themselves.
They gotta save themselves. They put themselves in this hole
going back decades because they decided on the socialists and
the Christina Kushner's all the pros going back in the day.
Let them do with it. We are gonna prop up
(07:50):
one of the most garbage currencies in the entire world,
to the tune of twenty billion dollars. Is that how
you want your tax dollars being spent? I don't watch
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