00:03:12.620Winters hosting today, Monday, August 5th, in the year of our Lord 2024.
00:03:17.620That's an explosive video that I am honored to be joined by the one and only Mike Howell of Heritage Oversight, of infamy at Heritage Oversight.
00:03:26.620You guys have been doing a lot of wonderful work as of late.
00:03:29.620But if you can walk the audience through what you guys have uncovered when it comes to non-citizens being registered to vote and how governors, certain elected officials are taking action as a result of that.
00:03:42.620So we did what no one else had the bright idea to do, and that's just go out and ask illegal aliens if they are registered to vote or non-citizens.
00:03:49.620It's, you know, you have to be a citizen to vote.
00:03:51.620And so we first did this down in North Carolina and got very similar results.
00:03:55.620This video we put out of Georgia last week went off like absolute wildfire, but it is what, you know, you just saw.
00:04:01.620It's asking non-citizens two simple questions.
00:04:04.620Are you registered to vote and are you a U.S. citizen?
00:04:07.620And the rate of affirmative responses we got is through the roof.
00:04:11.620I think for Georgia, it was about 14 percent of respondents.
00:04:14.620And if you extrapolate that out over the, you know, millions of illegal aliens that the Biden-Harris administration has imported here, there is a real threat to the integrity of our election systems.
00:04:24.620And a lot of politicians are saying that we have no reason to worry.
00:04:27.620It's really bipartisan calls, you know, whether it's the opposition here in D.C. to the SAVE Act, which would, you know, do a lot to prevent illegals from actually being able to vote, or state officials who feel like they've secured their election systems well enough.
00:04:40.620But as that video shows you, there's certainly a lot of illegal aliens willing to admit on camera that they are registered to vote.
00:04:48.620And walk us through how much you think we can extrapolate that data, right, using that 14 percent figure.
00:04:54.620Do you think that this is something that could be replicated across, you know, basically all swing states, or how pervasive do you think the problem is?
00:05:02.620When you have an election like the last one, which, if you trust the official tallies, came down to 40,000 votes about in a few swing states.
00:05:10.620And when you're talking about the millions of illegal aliens that have poured into this country and have been coddled by left-wing nonprofits in the Biden-Harris administration, you see the clear means, motive, and opportunity for, you know, this election rigging to really play out at scale.
00:05:24.620In terms of the, you know, statistical fidelity of such an extrapolation, I mean, we were pretty clear that we were just extrapolating based off of that one sample size.
00:05:36.620No one even, you know, has an accurate count of how many illegal aliens are in this country because the government refuses to monitor that because they want to hide the scale of the invasion.
00:05:45.620Yeah, they play the fun kind of shell game where they say, oh, we're not going to give you any of the evidence, we're not even going to give you access to our voter rolls, but if you insist that non-citizens are registered to vote, well, you don't have the evidence to back it up, so then groups like yours have to step up to the plate.
00:06:01.620It's like sort of the origins of COVID, they're very tactile, I would say, tactitious in how they go about doing that, but can you walk us through the sort of other side of the coin when it comes to the election fraud that they're getting ready to roll out ahead of 2024?
00:06:15.620In some cases, they seem to already be rolling it out, the sort of Biden-Bucks program that you guys have uncovered, but more importantly, the update to it that you guys are now subpoenaing the relative agencies that are involved in this scam, this racket, and how they're not necessarily complying with you, or does it look like they're going to be?
00:06:33.900So the subpoenas for that information comes from Congress, they, I think, gave a deadline, which may have already passed, for all the cabinet secretaries to turn over information related to this first-of-its-kind unconstitutional, frankly, dictatorial abuse, where the current administration is using your money, your government, to basically act as a get-out-the-vote operation for Kamala Harris.
00:06:57.100This is the first time this has ever happened in the United States of America, and it's really predatory.
00:07:02.040And when we look at some of the specific instances we have proved, things like they're picking Native American reservations in Arizona, but only the ones in the deep blue areas, and then they're basically grooming the children.
00:07:12.880The Native American children are being groomed to go out and recruit their parents to vote.
00:07:17.740And imagine that playing out in every swing state and, frankly, probably every state in the union.
00:07:21.740In Michigan, we proved that Jocelyn Benson, the secretary of state up there, a very, very radical leftist, is working with the Small Business Administration.
00:07:31.160So when people go to job sites to get job help, they're, you know, coddled and put into the get-out-the-vote program.
00:07:37.620And again, they're only picking to do these activities in deep blue areas, when in Michigan they're ignoring the red areas of the Upper Peninsula.
00:07:44.700And so for all of the, you know, blather about the defense of democracy, what we're seeing now is really the incumbent administration marshalling the forces of law and everyone's money to ensure their own re-election.
00:07:58.160And, I mean, the Obama groups that have, you know, really devised this and set that up bragged that they could register three million Democrats with your taxpayer dollars.
00:08:07.140And we're all, whether we like it or not, right now donors to Kamala Harris's, you know, election campaign.
00:08:14.500Yeah, I mean, right, the intel agencies missed COVID.
00:08:17.920Secret Service missed the assassination attempt on Trump.
00:08:21.260These so-called election watchdog groups, right, CISA, the DOJ, the FBI, that should be focusing on election threats.
00:08:28.140But they're not, they're busy focusing on turning out the vote, I would argue, fraudulently.
00:08:32.620And you guys on that sort of similar train of thought had another sort of scoop today on how Mayorkas and DHS, while they're failing to protect President Trump at rallies, they're busy going after truckers here in the United States, saying that those who oppose vaccine mandates are, you know, tantamount to militia members and radical activists.
00:08:53.140Can you walk the audience through those findings that you guys have uncovered?
00:08:56.040Right. So if the audience is familiar with kind of the trucker convoy of a couple of years back, which largely emanated from Canada, the Department of Homeland Security under Mayorkas' leadership used that to kind of paint truckers with a broad brush and say that, you know, these activities from this community are akin to, you know, militia-type activities and put it up in an intelligence and analysis bulletin that gets widely disseminated.
00:09:19.120And this is kind of one of the tactics of our government in terms of labeling people broadly.
00:09:24.040They use these catch-all terms and basically point to any publicly available information they think can, you know, help support their case.
00:09:31.060And then they blast it out to the states and locals for, you know, in hopes that they go out and also go after these people.
00:09:37.360It's basically developing a source or some governmental finding, which is obviously absurd on its face, to engender more activity to harass these people.
00:09:47.020And obviously truckers are a dominant segment that supports President Trump instead of this, you know, incumbent administration.
00:09:54.560And so it makes complete sense, given the trends of weaponization of this administration, that they would use this kind of just absurd nexus to terrorist activity and the Department of Homeland Security's mission to kind of, you know, make them another victim of weaponization.
00:10:08.460So if you're a trucker out there, please get in touch with us.
00:10:12.340What's happening to you is unforgivable.
00:10:14.280Truckers are the backbone of this country.
00:10:16.220And, of course, Mayorkas deeply despises them.
00:10:19.200Mike, if people want to follow you, support the Oversight Project, where can they go to do all that?
00:10:24.040Best ways on X, at Oversight PR, the letters PR.
00:10:28.520Mike, thank you so much for joining us.
00:10:31.800Now, Warren Posse, I want to be very clear.
00:10:35.680I know a lot of other conservative news programs and some, you know, not just Fox, but they're focusing every day trying to, you know, hammer Harris as super radical on the border, super radical on gender.
00:10:46.640And don't get me wrong, we will definitely inform you on that front.
00:10:48.800But I think it is important to state that here in the war room, we are only going to be giving you signal, not noise on Harris.
00:10:55.260And what I mean by that is that she, as a person, as a candidate, I would argue is irrelevant to the system.
00:11:01.140In other words, like we talk about the financial plug-and-play elements of the Democratic Party, right?
00:11:06.460It could be anyone, the way that their financing system is set up.
00:11:09.480It doesn't really matter about the candidate.
00:11:10.920They have all these dark money groups.
00:11:12.480They control, obviously, the institution's mainstream media.
00:11:14.900They can artificially pop up anyone they want.
00:11:17.500It's not actually about candidate quality.
00:11:19.260Look no further than the fact that Joe Biden is basically dead.
00:11:22.120He was a cadaver when he ran hiding in the basement.
00:11:24.880But Kamala Harris, right, they could basically put anyone to fill her shoes, her horrible low heels, because they are controlling the election infrastructure.
00:11:34.000And I'm the first, or this show has been historically the first to, I think, raise the red flags that we are not where we need to be when it comes to election integrity, when it comes to election fraud, when it comes to the ability to push back when they start to roll out the very same tricks that they did in 2020.
00:11:48.740And make no mistake, they are trying to do that.
00:11:51.180Just last week, The Washington Post running the story, Pennsylvania presidential election results could again take days to count, AP running the story, state election directors fear the Postal Service can't handle expected crush of mail-in ballots.
00:12:04.340Day after day, you see story after story demeaning MAGA coming after you guys saying that we're making election workers step down and that that's going to cause delays in the election process.
00:12:14.440We already see these Zuckerberg type groups rebranding and pumping in hundreds of thousands, millions of dollars into, of course, swing states and rural counties, right?
00:12:24.360This is part of a much broader problem that I don't think we solve by just dunking on Kamala, whether it's her horrific track record at the border or her radical policies on gender, because we're not actually running against terrorists.
00:12:37.480We're running against an extremely deep, intricate, systemic, and systematic dark money machine that will stop at nothing to keep President Trump out of office.
00:12:48.620And when we talk about managed decline here in the war room, like we always have, we have entered, I would argue, the second stage of that, which is accelerated decline, which you are seeing on full display right now with the economic meltdown.
00:12:59.940I'm not talking about the southern border. Today we're going to be focusing on the economy. And Ed Dowd, I'm going to bring you in. We got about a minute before we have to jump to break.
00:13:07.480But before we do, if you could just kind of give a, you know, one, two minute synopsis of what you think we're seeing going on today.
00:13:14.580Yeah. So the economy, the real economy has been weak for a couple of years.
00:13:19.400The Biden administration was able to pump it with government spending and kick the can down the road.
00:13:26.640Unfortunately, that juice has run out. Our own internal economic indicators started rolling over in March.
00:13:32.660And now we have an Asian contagion crisis starting at the Bank of Japan that the Federal Reserve and others may not be able to control right away.
00:13:41.100So it's bad news for the current administration and Harris. If this economy and stock market rolls down into November, that will help Trump.
00:13:52.980Bidenomics for the win, right? The failures always seem to go one way.
00:13:56.440Ed, if you'll hang with us through the break. I know you were like the number one guest that the posse wanted on to walk through everything that's happening in the stock market and the bond market, sort of the ramifications of all this,
00:14:06.860despite the fact that, what is it, Lockheed Martin stock is still surging. If there's not a nice irony to that, I don't, I don't know what else.
00:14:13.840But in the meantime, I think especially now, gold is still doing well. You can go to birchgold.com slash Bannon to get the latest installment of the End of the Dollar Empire.
00:14:23.760It's written by Steve. If you're missing him, get a copy, read it, give Philip Patrick a call.
00:14:28.360You should also go to Sacred Human Health to get their beef liver supplements. They're great for your skin.
00:14:35.060Never thought we'd be talking about skin care here in the war room, but here we are.
00:14:39.020It's absolutely fantastic. High levels of vitamin A to make your skin glowing.
00:14:43.000So when you go and vote in person, the 2024 election, you'll be looking great if you start taking beef liver now.
00:14:50.300We'll be back after the break, joined by the one and only Ed Dowd to walk through the financial chaos that we are holding.
00:15:01.280They now want to use the technology behind Bitcoin for their own Orwellian purposes, their gold to dominate our economy by forcing everyone to use central bank digital currencies, which they control.
00:15:14.280Imagine your every purchase being called into question, your every move tracked like you live in a communist country.
00:15:21.280This is not the America we want, but it is the America they want to create.
00:16:23.040We'll be monitoring everything that's going on in the Middle East and broader region.
00:16:28.920Several U.S. personnel have been injured in a rocket attack on the al-Assad airbase in Iraq.
00:16:34.140It's reporting coming out of Reuters just now.
00:16:37.340Of course, just another example of leadership, lack thereof, under Joe Biden and Kamala Harris.
00:16:44.140And we're seeing what is, like I said, not just the managed decline but the accelerated decline of this country under two people who I think represent the managerial class of this country pretty darn well in their mishandling of our financial system, our economy, coupled with their push for de-dollarization.
00:17:02.220I think we're seeing on full display today right now.
00:17:05.760We're joined by Ed Dowd, the brilliant mind behind so much COVID research, but you're also blessing us with your presence to discuss something that's not so blessed right now, which is the state of the economy.
00:17:16.480If you want to just sort of pick up where you left off, but I think I would wager the number one question that I think the audience wants to know is how did we get here?
00:17:25.020So, unfortunately, what happened in Japan has been something that's been brewing since last year, and the timing of it was always uncertain, and if it blew up before the election, it would have potential ramifications.
00:17:40.780So, the real economy hasn't been good for a long time.
00:17:45.020The Biden administration, along with Treasury Secretary Yellen, went on a government spending spree and pumped up the economy with government jobs.
00:17:55.000Unfortunately, that juice looks like it's run out, run its course.
00:17:57.980The economy, as we measure it, started rolling over in March.
00:18:01.560So, the game has always been, can they keep this illusion of economic prosperity on paper going before the election?
00:18:07.960Japan, just through a wrinkle on that, what's going on in Japan is they've had zero-rate interest rate policies for decades, and their currency, because of our interest rates being at 5.5%, caused their currency to weaken to the point where they had to start raising interest rates.
00:18:23.740And there's something called the yen carry trade, which for decades, leveraged investors have been borrowing in yen and investing in other assets and other currencies.
00:18:33.120That blew up spectacularly last week when the bank of Japan decided to raise interest rates at only 25 basis points.
00:18:41.300Even I and other seasoned professionals were alarmed at how quickly this unwound and what's going on in the stock market.
00:18:48.020So, what we're seeing is massive margin calls in Asia, and your audience should know this.
00:18:54.220Our stock markets are only down 8% from their peak, and the people I've talked to on Wall Street, the bottom is not in yet.
00:19:01.900And we were expecting some sort of Federal Reserve policy response or commentary today.
00:19:07.920We got one guy, a Fed Chicago president, Bullsby, who basically said, yeah, it was just one payroll report that was bad, and if we see the economy getting worse, we'll do something.
00:19:21.440So, basically, this policy response from the Federal Reserve was, we're going to let this play out and wait and see.
00:19:28.280And that's very bad for those in the financial markets who are hoping for a bailout.
00:19:33.300The current bond markets and credit markets are expecting the Fed to cut rates massively soon.
00:19:39.340But what you just heard from the Federal Reserve president was, they're going to wait and see.
00:19:43.000So, either their misunderstanding of how fragile our financial system is, is incompetence, or I believe the bankers are tired of what's going on, and they're going to help Trump in the fall if the stock market route continues.
00:20:02.220And, again, we're only down 8 percent from the top, and if this continues and we get a low sometime in October, that favors Trump and not the Harris administration.
00:21:50.280It all depends on the policy responses from the Federal Reserve and the government.
00:21:54.060But the Fed, as of today, hasn't indicated they're all that worried about what happened in Asia.
00:21:59.280Basically, you need to understand in Japan, their markets crashed.
00:22:02.560Their banks, some of their major JP Morgan-like banks down 30 percent in two days, three days, or a month, I'm sorry.
00:22:09.560It's a disaster. And this is only—this is the beginning of a ripple effect.
00:22:14.300It's like throwing a boulder into a pond, and you're going to see ripples.
00:22:17.700So, was the yen-carry trade that arguably precipitated a lot of this, was that something that happened sort of contained to Japan?
00:22:25.840Or have the policies that not just the Biden-Harris regime have pursued, but even our just reckless spending—what is it,
00:22:32.300breaking $35 trillion on track, down another $1.4 trillion this year in debt—how does that sort of compound with what's going on overseas?
00:22:40.640In other words, have they sort of aided and abetted this financial crisis, or is this something kind of distant from the policies that we're focusing on here at home?
00:22:49.640Well, the yen-carry trade has been facilitated by Japan.
00:22:52.720And prior to what just occurred, there has been, since the Great Financial Crisis, central bank coordination.
00:22:58.540It's not well reported on, but you can see it in the markets.
00:23:01.380One major central bank, the Freeard, the Fed, the ECB, and the BOJ, they would print money to keep this debt bubble afloat and then hand off the baton to another bank.
00:23:12.740And that circle would go on virtuously.
00:24:04.820There'll be a correction in the stock market.
00:24:07.340The Fed will respond, but we need to see the timing on this and what the size of the policy response is, or if they can even save it this time and kick the can down the road.
00:24:21.680But the good news is I don't see a crash, per se, into the election.
00:24:25.520It'll be, you know, hopefully a run-of-the-mill, you know, 10% to 30% correction.
00:24:31.220And real quick, just while we have you, since I know you usually come on to talk, COVID vaccines, mandates, that's like you said, what do you think you cut a lot of your teeth doing?
00:24:42.200Can you give us just a kind of a two-minute synopsis where we stand on that front, the latest evidence, data coming out, supporting a lot of the early work that you did?
00:24:49.660Yeah, we've continued to do a deep dive into different causes of death.
00:24:55.340Unfortunately, we have three new reports coming, muscular, skeletal, liver, and skin.
00:25:01.200They all show an acceleration of deaths.
00:25:05.920And it all started around 2021, 2022, into 2023.
00:25:11.240We did reports last year showing cancers rising.
00:25:13.660So the good news is the excess deaths aren't as high, but we now have this kind of long-term malaise of strange deaths occurring in the population in very young ages.
00:25:30.480Personally, I wish this issue would be talked about more in the election.
00:25:33.920That seems to be memory-holded at the moment.
00:25:37.000And just curious, last question before I let you go.
00:25:39.740So since we are obviously barreling towards an election, how do you think that that is going to influence, whether it's the Fed, the White House, how they respond to this economic crisis or lack thereof?
00:25:51.400How is that going to sort of want them to make decisions postponing a potential crash or just continued downfall in the markets after the election?
00:26:01.900Well, I think there will be a relief rally no matter what if we put it on a low in October.
00:26:07.200However, it's the Fed's policy responses and whatever new administration is in, they'll have to figure out how to deal with the economic impact.
00:26:16.880Because our economic indicators started rolling in March.
00:26:19.820They're already in recessionary levels, but they get a lot lower to go.
00:26:22.420So recession is, I believe, already here, but it's going to intensify into the second half of this year.
00:26:28.420And whoever gets in there is going to have to deal with this beast.
00:26:32.100What I find super curious, and I want your audience to remember, is the Federal Reserve is not really responding to what happened in Asia right now.
00:26:39.760They're literally on a wait-and-see mode.
00:26:43.940And my friends on Wall Street are nervous about that.
00:26:47.260And so that's why most of us believe the low in the stock market is not in yet.
00:26:52.420Ed, if people want to follow you, stay up to date with all those forthcoming reports, where can they go to do so?
00:27:19.960And I think today's probably a better day than ever to go at least check out the website, read one of the five installments of the End of the Dollar Empire.
00:27:27.780Like I said, if you're missing Steve, get a copy.
00:29:30.140Welcome back to the War Room, the certified top spreader of election misinformation per the New York Times.
00:29:43.140We're happy to do some more of that here today, though the only difference is that what we're telling you is extremely true and I would argue very concerning.
00:29:51.840The left, their dark money organizations, are doing what they do best, especially when it comes to swing states.
00:29:59.300And you guys may remember the Center for Tech and Civic Life.
00:30:02.420That was sort of the controversial infamous group that was very active during the 2020 election, in some cases overpowering local election officials, I believe, in Wisconsin, getting access to ballots early because they were funded to the tune of hundreds of millions of dollars from Mark Zuckerberg.
00:30:18.580Though he said he would not fund the organization again, the founder, the Obama-linked Tiana Epps Johnson, that has not dissuaded her from not only keeping this organization alive with other dark money funders, but also kind of rebranding and creating new organizations.
00:30:32.540But we're joined by Logan Washburn from The Federalist, who has a great new story up on what this rebrand looks like coming from the Center for Tech and Civic Life, specifically in what they're calling rural and non-urban counties.
00:30:49.440Can you walk the audience through your new story?
00:30:52.920Yeah, thank you so much for having me.
00:30:55.740So this is basically the group launching again what they did in 2020, which had the result of being a Democratic get-out-the-vote operation.
00:31:07.480They targeted very blue demographics, blue areas in 2020, and what they're doing now, they're not taking Zuckerberg's money, but what they are doing is targeting rural and non-urban areas.
00:31:24.360And we're not sure where this money is coming from, but they are basically offering the jurisdictions different amounts of money up to the tune of $100,000 for so-called election administration.
00:31:39.540They said that the purposes of these grants will fall in line with what the Department of Homeland Security, strange that they're involved, what the Department of Homeland Security classifies as essential election operations.
00:31:56.880And these are kind of outlined in a document that's posted by CISA, which you might recognize as the government censorship hub online.
00:32:09.000So these are already raising some interesting questions.
00:32:13.260I think that in the days to come, we're going to be seeing different local jurisdictions where these grants are being invested.
00:32:21.760And we're probably going to see a lot more stories coming up about them.
00:32:26.720And walk us through how you reported this story.
00:32:29.480In other words, it's not like CTCL is coming out being forthright with who their donors are and where they're operating.
00:32:35.780All of this is sort of a weird shell game, for lack of a better word, right?
00:32:39.640When you ask, when you reach out for comment, they're not telling you who's funding them.
00:33:01.020They're not even saying the total amount that they're giving out that's available here.
00:33:06.860And so we really have to do some thinking about who these groups are connected to.
00:33:13.560So CTCL actually is an offshoot of an earlier group, the New Organizing Institute, which was an explicitly democratic digital organizing group.
00:33:27.160And so we should keep that in mind when we're talking about them, that as a group, it was founded by former members of the NOI.
00:33:46.960So we need to be tracing their connections.
00:33:51.000They also launched the Alliance for Election Excellence, which is basically repackaging all of the election and influence groups from 2020 and doing the same kind of thing, working with local election offices.
00:34:04.060So they have a lot of different connections in different places that we should be watching.
00:34:12.680Yeah, Zuckerberg's, even though it was hundreds of millions of dollars, are really a drop in the bucket, right, of what is a much broader and very interconnected system.
00:34:21.680Though I would argue the in-kind contribution that the Harris campaign gets from Metta's censorship of anything related to Trump, that probably surpasses a billion dollars.
00:34:31.260But can you walk through one more time the Alliance for Election Excellence, how that was basically the rebrand of the original kind of Zuckerberg's organization?
00:34:43.040So the Alliance for Election Excellence was actually launched by CTCL themselves, but it includes certain member organizations like the Center for Secure and Modern Elections.
00:34:59.220And other groups that were noted at different points in the news cycle after 2020 for having a strange hand in local election administration.
00:35:11.020So what they're doing is bringing all these groups together under the Alliance for Election Excellence.
00:35:16.420It's kind of an umbrella group that has different counties and localities as part of it.
00:35:21.920So they are working in states where private funding of elections has been banned, but mostly serving in informational roles there.
00:35:34.500So they're still going to skirt the Zuckerberg's bans that we've seen where states ban private funding of elections for integrity issues.
00:35:42.920So they're still finding loopholes, and they're not going to stop working just because we banned the funding portion.
00:35:51.000Just like Steve said, when Trump won, it wasn't like they handed over the keys to the castle, the keys to the kingdom.
00:35:58.720Just because we ban private election spending in some state legislatures does not mean that these NGOs and the billions of dollars and the hardcore progressives that are behind all these groups are just going to bend over and say, oh, well, we tried.
00:36:12.640Logan, if people want to follow you, stay upstate with your wonderful reporting at The Federalist.
00:36:32.900I think we just need to say that what the left and their dark money NGO groups want to do to radically transform, and I use that word intentionally, hat tip Obama,
00:36:44.680to our election systems here in the United States is 100, if not 1,000x scarier than any agenda point that was ever on Project 2025.
00:36:54.840They want to make elections, though I would argue they already have, basically on par with whether it's China, Venezuela, not just because they use the same machines and groups that certify those elections,
00:37:04.560but they want your vote to not count, and they want to spend not just your taxpayer dollars, but Bill Gates, Mark Zuckerberg, all these far-left billionaire weirdos.
00:37:13.160They want to use their money to turn out the vote exclusively for Democrats under the euphemism of bipartisanship and independent organizations.
00:37:21.640They're all, by the way, exempted right on taxes by the IRS.
00:37:25.340Meanwhile, the IRS, I'm sure, is going after all you guys, just like they love to go after conservative groups.
00:37:30.920It's hypocrisy at its finest, and like I said, what they want to do to transform elections here in the United States.
00:37:36.720Give me any project or policy plank of Project 2025 over what the left wants to do.
00:37:40.940I guess, frankly, not just the elections, but with this entire country.
00:37:45.060We're joined now, speaking of radical transformation.
00:37:48.660They want to do it, of course, by seizing the means of energy production, I would say.
00:37:56.220Dave, I'd love to get your thoughts on these sort of financial news that we're seeing unfold today through the lens of the energy industry.
00:38:06.120Well, Ed Dodd was pointing out, when you look at these interest rate changes that have been enacted by the Fed, by Jerome Powell,
00:38:13.700usually it takes 14 to 18 months for those to have full effect.
00:38:17.380And like 2008, if we look back at 2008, the last time this was done, rates shot way up a year and a half before the economic collapse happened.
00:40:40.720What's shocking is, despite this vastly enhanced risk of supply curtailment from the Middle East,
00:40:47.700remaining very large source of oil and gas in the world, you don't have any impact on pricing yet,
00:40:53.280which is indicative of global demand sagging badly, particularly here, particularly in Western Europe,
00:41:00.440as the economies are beginning to somewhat tank, look at the unemployment data and the devastation created by Powell's interest rate strategy.
00:41:09.780So, you know, where we ought to be seeing more upward price pressure on oil per barrel, we're not seeing it due to economic decline over here.
00:41:19.040And this visited in the Japan stock market yesterday.
00:41:21.380So some significant problems for recessionary impact in the economy as expressed by oil prices.
00:41:29.660And whether it's the stock and bond markets or, like I said, what's happening right now, presently,
00:41:34.820in the Middle East and surrounding regions, I'd even extend it to Ukraine.
00:41:39.520Can you make the case that, you know, this is not just a happy accident that would have happened to whoever was in control of the White House,
00:41:46.540that this is a result of the policies pursued by Harris and Biden?
00:41:52.900The Iran issue and Iraq issue is a result of China going over there in that we abandoned our sanctions against Iran,
00:41:59.880allowing them to do extensive business with Iran, set a deal with Iran to buy 2 million-plus barrels of oil a day,
00:42:06.920the Chinese, at Brent crude minus 40 percent price benefit to them, to the Chinese,
00:42:12.940buying all in renminbi and insisting that the renminbi the Iranians got would be spent in China
00:42:18.800on Chinese project equipment apparatus and technology for their own defense, the Iranians' defense,
00:42:25.300so that we allowed them to become strongly allied with China and lift up their production of crude oil
00:42:31.300from what was only about 250, 300,000 barrels a day during the Trump sanctions up now to 2.2 million barrels a day,
00:42:39.700a huge source of revenue to sustain not only Iran but their support for Hezbollah.
00:42:45.260So China's in the middle of this, and it is a shame that the—you know, we had Capito had a very nice presentation a few days ago,
00:42:53.320Senator Capito, on the kind of un-American activities being supported by recipients of Biden, Biden IRA money.
00:43:01.240The big recipient of Biden IRA money indirectly is China.
00:43:04.260Sorry, I got to hold you to hold that thought.
00:43:06.140But speaking of, you know, un-American activities, shouldn't be lost on anyone anytime we're talking about what's going on in Iran right now.
00:43:12.300Remember, it was the Biden regime that allowed, and I would argue probably enabled,
00:43:17.080that Iranian spy to be the chief of staff to the Pentagon.