Fitch warns that it may downgrade the rating of dozens of U.S. banks, including big ones like J.P. Morgan and Bank of America, and that could set the stage for a cascade of downgrades across the entire financial industry. Meanwhile, the White House continues to press ahead with its plan to impeach President Trump.
00:03:50.140Remember, two years ago we were here was the Afghan debacle, the retreat and the loss of the young Marines in Afghanistan with that debacle, the pullout.
00:04:00.620The world's on fire right now. Chinese economy.
00:04:03.000It looks like all the phony numbers they've been putting up for years are chickens are coming home to roost.
00:04:09.300The Chinese Communist Party just announced they're not going to put out the youth unemployment right now because they understand the youth unemployment is reaching 50% as the regime gets roiled.
00:04:28.540Again, there's a continued agony in Maui with nothing coming from the White House and information basically locked down.
00:04:39.120In all that, we want to show the frivolity of how they're handling this end of the republic types of lawfare against a an individual who now leads in the presidential race.
00:04:50.120They will do anything to stop him. We're going to get into more of that. We got Mike Davis, Cleta Mitchell, Dershowitz.
00:04:55.540As I committed to you, we're going to get to the basics of that, let you know what's happening.
00:04:59.880President Trump has already put out a true social.
00:05:02.640He's going to press conference on Monday, I think, at 11 o'clock to walk through a definitive report on all things Georgia.
00:05:09.820So we'll get into that with Cleta and the rest of the folks in a little bit.
00:05:13.680But the economy, and particularly this bombshell that came out from Fitch.
00:05:17.500Oh, by the way, we're thinking we're not just downgrading the U.S. government because of its inability to get control of its finances.
00:05:24.160But we're going to downgrade all, and these are not just regional banks, we're going to downgrade money center banks, including, wait for it, presidential aspirant, Jamie Dimon's J.P. Morgan, the most important bank in the country.
00:05:39.500E.J. and Tony's going to join us in a moment.
00:05:51.860Michael, you've been extraordinarily busy the last couple of weeks over a public SQ.
00:05:56.400Tell us more than ever, we need every patriot that watches this show to embrace the foundational elements of the patriot economy.
00:06:06.480No longer. It's very simple. You no longer have to give money to people that hate you.
00:06:11.700And as we get into what happened in Georgia, and this is a travesty, OK, yesterday they put out our.
00:06:18.320This is why they had – it was in the dark at night they actually did the indictments and opened them up.
00:06:22.880They had to because they already put the indictments out 12 hours beforehand, even before the grand jury met and before all final 10 witnesses met.
00:10:55.400They will do anything. Think about that for a second. They will do anything. They will break any law. They will destroy any institution. They will do anything to defeat Donald Trump. Now, why is that? Think about that for a second. Why is that? Because of you.
00:11:11.880they do not want the working class and middle class people in this country to have any say so0.97
00:11:17.940in the direction of this country and let me tell you some things we're going to go on today uh
00:11:21.820later today we're going to have ben harnwell on um and uh we're going to talk about the situation
00:11:27.140in ukraine uh biden puts up a 20 billion dollar uh new new bill 300 million dollars yesterday
00:11:32.560they're just sending over without asking anybody another one of these dod uh you know pockets of
00:11:38.280cash they have but they're asking for 20 billion at the exact same time we have reports out there
00:11:44.200in the asia times written by very qualified people with great sourcing that says hey a lot of the
00:11:51.480units in this counter-offensive have just stopped fighting and now there's real grumbling in the
00:11:56.040ukrainian military about zelinski and zelinski just chopped the heads off the recruiting process
00:12:00.240because the guys were taking too many bribes why are they taking bribes nobody in ukraine wants to
00:12:05.680go to the front anymore because of the slaughter that's uh that's happening in fact the the report
00:12:12.700in asia times is they're saying it could be up to 200 000 200 000 i quote the asia times 200 000
00:12:20.680ukrainian casualties now many of those because of this failed uh spring offensive driven by
00:12:27.180all the geniuses you saw on on msmc from the pentagon and the great think tanks and the
00:12:33.020Atlantic Council and all of it. Remember that all nonstop, nonstop, nonstop. Russia's failing.
00:12:37.480Russia's failing. Russia army is failing. This is going to be a massive offensive. We're going to
00:12:41.800take Crimea. We're going to take the Donbass. We're going to do all of that. Okay, where are0.54
00:12:46.080they all now? Right? Where are they all now? At the same time, the Chinese Communist Party
00:12:52.360is in an economic meltdown right now and trying to hide every number. Every number they've ever
00:12:59.020put forward is an absolute lie uh and i want to bring in ej and tony for a second ej uh the quiet
00:13:05.260part out loud i want people fitch a couple weeks ago downgraded the u.s government and it's because
00:13:10.700of and they try to push forward the narrative on cnbc and others it's because of the mega republicans
00:13:16.320and the dead ceiling fight no it's because what got approved if the if the proposal put forward
00:13:23.220by the MAGA Republicans, this base had been accepted, there wouldn't have been a downgrade.
00:13:28.540But they kind of washed over, and because of all this madness about Trump, they washed
00:13:34.420over the fact that the analysts, I got about 60 seconds, the analysts are sitting there
00:13:38.640saying, I may downgrade the banks, the big money center banks.
00:13:45.860Oh, Steve, this is massive, and it helps answer the question as to why these rating agencies
00:13:50.820were able to downgrade the banking sector. And then everyone was left scratching their heads
00:13:55.660saying, well, what about the individual banks? How is it all the components of these sectors
00:13:59.640can be perfectly fine, but the sectors themselves can be in such desperate straits
00:14:04.220where the Federal Reserve is literally creating hundreds of billions of dollars
00:14:08.280to bail out the sector? This is absolutely massive, and very few people seem to be
00:14:13.340paying attention to it. EJ, hang on for one second. We're taking a short commercial break.
00:14:19.240We're going to get into the signal, which is the financial meltdown of your nation and the world because of incompetence and radical ideas.
00:14:31.400At the same time, they're trying to crush the individual that could stand up for working class people and middle class in this nation, Donald J. Trump.
00:21:36.220Steve, you bring up a great point with commercial real estate and the fact that commercial real estate is almost entirely done by regional banks because they just know their locations and their industries much better than the big national banks do, especially the global banks as well, banks like JPMorgan Chase, Wells Fargo, Bank of America, City.
00:21:57.240And so as a result of not only mismanagement in terms of things like commercial real estate, but also, again, going back to this systemic interest rate problem, banks had this problem of literally years being able to buy nothing other than low interest rate securities because that's what Congress, the Treasury, the Fed were flooding the market with.
00:22:19.400And so now, again, you have this problem of banks literally being insolvent. Now, immediately people want to know, do I need to run and get my money out? Well, if you have less than $250,000 in deposits, which is 99 percent of Americans, then there's nothing to worry about because the Federal Deposit Insurance Corporation has you covered anyway.
00:22:38.120In fact, even if you have more than that, as we saw with Silicon Valley Bank.
00:33:31.400it'll bottom out there okay another called shot thank you very much uh i want to bring in mark
00:33:37.440levin the great one calls my following guest the nostradamus of lawyers because he's had so many
00:33:44.200called shots about the lawfare against president trump he spent his career defending the constitution
00:33:49.460uh professor dershowitz you basically called this in your book get trump you kind of laid out what
00:33:55.140was going to happen in georgia but yesterday i just got to ask your opinion somebody's defend
00:33:58.260the Constitution. This was such buffoonery. They put out the indictment even before they brought
00:34:03.200the last 10 jurors in. Then they panicked. They took it down. It was a court filing. They already
00:34:06.960had a case number, a judge assigned. They had to scramble all day. In the dead of night, they had
00:34:12.600to have a press conference to open the thing because they knew they had to get it done yesterday
00:34:17.000because they'd already released the decision before the grand jury had even voted. And then
00:34:22.680to top it all off, they put out all the names of the grand jury participants. I mean, this is just
00:34:29.060full buffoonery, but it shows you these are republic-ending types of actions, because this0.92
00:34:35.320is when we go to a total banana republic. Professor Dershowitz. Well, the fact that they were willing
00:34:41.960to put the indictment on the website before the grand jurors voted proves something that any of
00:34:47.800us who have had experience in criminal law know, the grand jury is meaningless. There are 23 or
00:34:53.340whatever number it is, chairs that the prosecution moves around. If the prosecutor wants an indictment,
00:34:59.060she gets an indictment. So nobody should say, oh my God, a grand jury, 23 people looked at the
00:35:05.740evidence and they said there was enough to indict. Ignore it. It's nonsense. The grand jury didn't
00:35:11.200decide anything. They rubber stamped something that the prosecutor put before them. And the best
00:35:15.920evidence is the prosecutor was so confident she was willing to put it on her website even before
00:35:21.880the vote took place. You know, it's Alice in Wonderland, verdict first, execution and then
00:35:28.720trial. That's what we're having here. And it's such an undercutting of our Constitution. I
00:35:35.260predicted this all in Get Trump, and I predict there'll be some convictions. I think the strategy
00:35:40.280is to get bad convictions, but to get them fast in New York, in Florida, in Washington,
00:35:46.520and in Fulton County. Then they'll be reversed on appeal, but they'll be reversed on appeal
00:35:50.740after the election. That's why everybody's rushing to get these cases tried. We now know
00:35:57.960that they want it tried within six months in Georgia. They want a trial in January in
00:36:03.260Washington, D.C. They want a trial in May in Florida. New York has been willing to put it
00:36:08.980off, but they're going to get on the bandwagon, too. Everybody who is going after Trump, the whole
00:36:14.220get Trump approach is to get him before the election, convict him before the election,
00:36:19.640and he wins on appeal. All right, that's tomorrow's news.
00:36:25.800How can she, they're talking about 18 people. She's doing a RICO case right now, I think,
00:36:31.960with gang members. I think there's a half a dozen. I think they've been six or nine months
00:36:35.940in jury selection i mean to physically do what she wants to do it's all buffoonery but to physically
00:36:41.840do what she wants to do wouldn't take years to actually i mean how do you control 18 lawyers
00:36:47.640that have individual clients or have a couple of clients in this how do you do it she wants to do
00:36:53.860it together she wants one trial um i've done hundreds of these kinds of cases over my 60
00:37:01.320years. I've never seen a RICO case tried within six months of the indictment. Usually it's a year
00:37:08.800or two or sometimes even longer. If this case were on a normal schedule, it wouldn't come to trial
00:37:15.300until well after the election. The same thing is true of the Washington, D.C. case. This will be
00:37:20.160a logistical nightmare because lawyers will be arguing with each other. There'll be conflicts
00:37:25.440of interest. There'll be ongoing attempts by the DA to flip some of the indicted and some of the
00:37:31.920unindicted co-conspirators. And one of the worst messages of this indictment is, watch out, lawyers,
00:37:38.840we're after you. You know, they say the first thing that tyrants do is first they get the
00:37:43.820lawyers, then they stop free speech. And that's tragically what the woke hard left is doing here.
00:37:49.200They're going after lawyers. They filed a bar charge against me because I questioned whether
00:37:55.380or not machines in Arizona should be transparent and should disclose the mechanism so that experts
00:38:04.040can examine them. They're going after any lawyer, not only who represented Trump, but who speaks
00:38:09.280out on behalf of Trump. And it's terrorizing lawyers. Lawyers have told me they will not
00:38:14.580represent Donald Trump. They'd like to, but they don't want to be Dershowitz. They don't want to
00:38:19.320be attacked and condemned and have their careers questioned because they support the Constitution.
00:38:25.480We are in a constitutional crisis. You know, on my podcast, I award bananas. Before yesterday,
00:38:32.860we were up to two or three. I now think we're up to at least four on a scale of 10 on Banana
00:38:38.880Republic. And it's a worry. We're not there, but we're getting closer and closer. And these
00:38:44.240kinds of indictments against the man who is leading the campaign against the incumbent
00:38:50.420president, the leading candidate. That's what they do in banana publics. In Ecuador,0.92
00:38:55.500they shoot him. In the United States, they indict him.
00:39:00.620And when you say constitutional crisis, walk me through that. What is the constitutional crisis
00:39:05.920you believe we're facing right now? Constitution permits voters to decide who the president
00:39:12.440should be through the Electoral College. They don't allocate that responsibility to prosecutors,
00:39:18.540to jurors, to judges. There are now attempts to try to disqualify, and they'll increase after
00:39:23.080this indictment, to try to disqualify Trump from running under the 14th Amendment, which says that
00:39:27.740you can't hold office if you've been involved in an insurrection or a rebellion. The 14th Amendment
00:39:34.700was intended to cover people who fought in the Civil War. It was not intended to cover future
00:39:39.280elections 150 or 80 years later. And so what we're seeing is attempts to misuse and weaponize
00:39:46.740the Constitution for partisan purposes. And I think people are going to reject that. And there's
00:39:54.340going to be a crisis. It'll start out in the courts. It'll start out in the legislatures.
00:39:59.960But tragically, in these kinds of situations, often they move to the streets. And what's worse
00:40:06.360about this indictment is this indictment accuses all these lawyers of pursuing the right path to
00:40:13.740challenge an election. The right path is to come up with an alternative slate of electors to try to
00:40:18.800convince the people in the state that the election was false, to go to court. That's the right way.
00:40:26.560The wrong way is to go out on the streets. But an indictment like this says, hey, if you use the
00:40:32.100right approach if you try to get an alternate slate of electives, if you go to court. We're
00:40:36.800going to indict you. We're going to indict you. We're going to put you in jail. We're going to
00:40:41.160impose mandatory prison terms under RICO. I don't believe this will be upheld on appeal, but
00:40:48.160the risk to lawyers and the amount of money they have to pay to defend themselves
00:40:52.920is going to be enough to discourage taking the right legal path to challenge elections.
00:40:58.560In 1800, the election was challenged. The Tilden Hayes election was challenged. I was part of the conspiracy of 1920. I'm sorry, 2000. I was part of the group that was challenging Bush versus Gore. I still to this day, hand to God, believe that Florida should have gone to Al Gore and he should have been the president.
00:41:21.680That's my view. You can disagree, but nobody's threatened me yet with imprisonment for having taken that view.
00:41:28.100I was joined by Professor Lawrence Tribe, who is now a leader of the campaign to get Trump.
00:41:32.880He was part of the campaign to try to undo the election of 2000, which we all thought was improper because of the butterfly ballot, the hanging chads.
00:41:42.520You remember all of that. That's part of America.
00:41:45.880In 1960, the election was challenged. In 2016, Jamie Raskin got up on the floor of Congress and challenged the election. My former student, a congressman. How do you distinguish these cases? Stacey Abrams challenged her election, initially refused to concede. She brought challenges. How do you distinguish this case from American history of challenging elections? That's part of our system under the Constitution.
00:42:12.800professor dershowitz how did they get to your podcast how did we get to the book how you get
00:42:19.000to all your writings because uh you're in it now this thing is going well the book is hard to get
00:42:23.460next level of intensity bookstores won't carry get trump they don't like the title they don't
00:42:28.600like the concept book fairs won't allow me to sell my books they're the only way you can get
00:42:33.120get trump which has been a bestseller on amazon is to go to amazon or one of the online
00:42:38.540stations. Otherwise, you're not going to be able to find it. My podcast is Monday, Tuesday and
00:42:44.480Wednesday. It's called The Dirt Show. And it's on YouTube and it's on Rumble. And I analyze every
00:42:52.460time I'm on, I analyze the legal issues. And in my book, Get Trump, I went through all of these
00:42:57.680four indictments and I made predictions about them. And so far, my predictions have been correct. So,
00:43:02.980You know, I think the best way to fight against the get Trump mentality is to buy my book, Get Trump.
00:43:10.320That will show that we're people are listening.
00:45:49.640I've got to figure out how to play that because The Weaponization of Loneliness, she gives yours truly, your humble servant here, a big shout out of 2016 and beyond.
00:46:02.680I can't I could watch Hillary Clinton and Rachel Maddow all night right hate watch hey Hillary
00:46:10.220how's that presidency coming out for you how are the drapes what'd you do with those drapes you
00:46:13.900had measured for the Oval Office every night when I go to bed I had a tiny part in keeping Merrick0.90
00:46:21.120Garland off of the Supreme Court and Hillary Clinton away from the White House yes some would
00:46:30.000think that's a pretty good life's work right mike davis this fiasco this is this is um
00:46:36.860yesterday was i think emblematic of where this nation is and you've got a phrase that i think
00:46:44.540people need to embrace republic ending because the buffoonism we saw yesterday where they put
00:46:51.720the indictment out they'd already indicted these people uh they already signed a a judge and a case
00:46:57.940number before they even brought the 10 in and then they panicked they had to get it all done
00:47:01.720you know to yesterday because they panicked they were showing the indictment so uh fannie willis
00:47:08.740uh didn't even uh didn't even uh take uh to come to the stage for her press conference to i think
00:47:16.94011 30 at night eastern daylight time and then to top it all off they put out the names of the
00:47:24.000grand jurors in some another administrative error. Mike Davis, you've had a chance to go
00:47:29.340through this. Give me your professional assessment of this indictment, sir.
00:47:34.780So I've gone back through it and read it again. And I would say what I said before, it is loud,
00:47:41.260it is long, and it is lawless. It is utter buffoonery by Fulton County DA Fannie Willis,
00:47:50.320Another Democrat hack prosecutor in this lawfare campaign to get President Trump that started a year ago with the Mar-a-Lago raid, Alvin Bragg's indictment for the non-crime of a businessman settling a nuisance claim, Jack Smith's indictment for the non-crime of a former president having his presidential records, which is allowed by the Presidential Records Act, Jack Smith's indictment of President Trump for the non-crime of a presidential candidate objecting to a presidential election,
00:48:19.920which is allowed by the Electoral Count Act of 1887 and the First Amendment.
00:48:24.920Now, Fannie Willis, the Michael Avenatti of this all, brings the biggest buffoonery of them all with this with this indictment of President Trump.
00:48:36.84018 of his lawyers and advisors, 41 felonies in Georgia for the non-crime of objecting to a
00:48:47.640presidential election and twisting arms politically. They're alleging a RICO conspiracy
00:48:52.980down in Georgia. That's the law that we used to take down the mob. Now Democrats are using RICO
00:49:00.180to take out a rival political party, including the leading presidential candidates.
00:49:06.900And they're using a nonsensical factual basis, the overt acts that Fannie Willis is alleging
00:49:16.900for this RICO conspiracy to subvert democracy, apparently, is that she's alleging meetings0.99
00:49:25.160and tweets and just purely political, protected speech, core political speech that she's
00:49:33.020alleging is part of a RICO conspiracy, the overt acts of a RICO conspiracy.
00:49:38.980I mean, it is such a joke of a legal theory, but the problem is that it is so damaging
00:49:53.400Look, the Supreme Court will almost certainly—I mean, I know they will.
00:49:56.960They're going to overturn this nonsense by Fannie Willis, but it may not happen before November 7, 2024, and that's the problem.
00:50:07.620You have Jack Smith, who was brought in before, ahead of the public integrity section at the Justice Department.
00:50:14.300He was brought in before 2016 to take out Virginia Governor Bob McDonnell, a former Virginia governor who was a likely presidential or vice presidential candidate for Republicans.
00:50:26.440And Obama's, you know, Eric Holder and Obama sent in Jack Smith as their as their Scud missile to take out Bob McDonnell.
00:50:35.400The Supreme Court later overturned his criminal conviction eight to nothing.
00:50:51.660He didn't care because the mission was accomplished to take out a Republican presidential candidate.
00:50:56.980He got banished to The Hague, and he was some BS Hague prosecutor, judge, whatever the hell he was in The Hague.
00:51:04.980But Merrick Garland and Joe Biden brought back this buffoon to run the same play against Donald Trump.
00:51:12.060Right. They're trying to take him out legally because they fear they can't beat him on November 7th, 2024.
00:51:18.040And then they have these dumb prosecutors across the country.
00:51:22.500You have Alvin Bragg, George Soros funded Manhattan D.A.
00:51:26.960You have you have Fannie Willis down in the hellhole of Atlanta.
00:51:30.780You have Tish James, the New York attorney general, charging Trump for fraud, civil fraud for the non fraud of a businessman paying back sophisticated banks.