Episode 4133： Fall Of World Governments
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Summary
Bill and Erika discuss the fallout from Canada's Finance Minister Chrystia Freeland's resignation letter, which calls for Prime Minister Justin Trudeau to step down. They also cover breaking news out of Germany, where the country's Chancellor Olaf Scholz has lost a confidence vote, paving the way for new elections in February.
Transcript
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of event in terms of the politics of Canada. And as I've said, mirrors something to some extent we
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see in Germany and South Korea as well in terms of the Trump effect. What is behind this rift
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then within the heart of politics in Canada? Yeah, you're absolutely right that Donald Trump
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is also looming over this situation. We know there's been tensions between finance minister,
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former finance minister Freeland's office and Justin Trudeau. That was bubbling last week,
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really erupted on Monday and a really kind of devastating day for Trudeau's government with
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her resignation letter in which she accused the government of going after expensive political
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gimmicks to help bolster the economy ahead of the Trump presidency that begins next month.
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Canada, of course, bracing for the potential of 25 percent tariffs on their exports to the United
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States. That has become a big focus of Trudeau's government, how to deal with that. But also the
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government has wanted to boost its popularity a little bit. That's at the core of Freeland's
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accusations. They've instituted a sales tax holiday. There was talk about mailing Canadians $250
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Canadian dollar checks. And this all comes after the government reported a real blowout deficit number
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of over $60 billion Canadian dollars. And the fiscal year ended March. That was more than the $40
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billion, more or less, that was projected or promised by the government. So a tough fiscal
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situation there, turning into a very difficult political situation for Justin Trudeau.
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Well, on that point, is Trudeau under threat at this point, Bill?
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Well, he certainly is under threat. It's definitely a low point. We believe the government wanted to look
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for elections, maybe second half late next year. This may force them to bring it forward. There's
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increasing calls from members of his own party that he step aside, in addition to calls from the
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opposition. The next few weeks will be a critical part of that. We'll see if he's forced into calling
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those elections. His party still is the biggest block in the House of Commons, but they do not have
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a majority. We are also, though, following breaking news out of Berlin at this hour, where German
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Chancellor Olaf Scholz has just lost a confidence vote, a vote, of course, that he called for. And that
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move now paves the way for elections in February. We have live pictures for you of the Bundestag in
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Berlin. President Frank-Walter Steinmeier can now move, of course, to dissolve the legislature and then
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formally declare the already agreed upon election date of February 23rd. All of this coming after Germany's
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governing coalition collapsed last month. CNN's Sebastian Schuchel is tracking the story. Joining us now live with
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the developments from Berlin, so not a totally unexpected outcome. But just walk us through what
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happens now, if you would. Yeah, Erica, I'm still in the belly of the Bundestag here, actually, in the
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room just behind me is where the vote recently took its conclusion. What I have for you here is the
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outcome of the votes, which is Scholz lost this vote of confidence in himself. The semantics around it
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are important by 394 votes against him to 207 in favor of him. So that's a sizable number who have
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said that, look, this country needs to adopt a new chancellor and needs to embark on trying to form a
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new coalition government. As you said, the process around this now is that Scholz will head to the
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president's residence, where he will then go and ask to formally dissolve parliament. But the way that
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this whole process, including the buildup to getting to this day, the vote of confidence, has been
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very regimented and controlled by the parties have already informally agreed when that election is
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going to be. And it will be on the 23rd of February. Technically, the president has 21 days to decide
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on the day, but it is almost a foregone conclusion. And, Erika, the foregone conclusion is also being
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echoed by what was said in that chamber earlier today. I want you to take a listen to what Olaf
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Chancellor, Olaf Scholz, the chancellor, had to say when he was on his feet in there earlier.
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Democracy requires parties to compete against each other with different proposals,
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as we will do in the upcoming campaign. But democracy also requires all those who believe in
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it to be prepared to work together for the good of the country after an election, to build bridges,
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to forge compromises. This is not possible without moral maturity, without decency and seriousness.
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It is only possible with a sense of responsibility for our entire country, for all our citizens.
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And so you can hear that. Okay, I want to make sure. Okay, I want to make sure you heard it right
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there with the guy with the head of Germany was there. It's always when they're getting their ass
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kicked, and finally getting run out. It's always, you know, we got to really work together. There's
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always got to be compromise and unity. That's all they're talking about on MSA. We got to have unity
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compromise, bring the country together. Hey, how about this? To quote Obama, elections have consequences.
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We won, you lost, you got your ass kicked, because you didn't take care of working class and middle
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class people for decades and decades and decades. We got nothing to compromise about. Nothing.
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All gas, no brake. All pedal, no brake. It's not a time to unify. It's a time to seize the institutions
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and secure our victory. Up on Capitol Hill, that little worm right now. Do we have the Johnson thing?
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This little worm is sitting there going, you know, up until like a day or two ago, it was
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really as a skinny CR, but some things evolved. Yeah, like sitting down with Hakeem Jeffries
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and getting slapped upside the head, because he owns you, and the Senate owns you. If you had
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a fearless speaker, and this is leadership too. Don't think Scalise and these other guys get
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off the hook here. Where's the leadership? How did you not know it? Why wasn't Scalise
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running the microphone? Why wasn't Jordan running the microphone? You're telling me you allowed
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him and just that inner circle of McCarthy advisors to do this? This is how we got in
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the situation. McCarthy got turfed out as speaker because of the debt deal. The debt deal that
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comes off on 3 January that Trump's going to inherit. Now that you put another, I don't
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know, $5 trillion of more debt. Here's the thing. I got a lot of feedback yesterday, positive
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feedback. Where did the freaking money go? Look around your hometown. Look around the Midwest.
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Look around inner city Baltimore. Look at inner city Chicago. Look up at areas of New York
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City. The Bronx. Let's look at the barrio in LA. Let's look around the country. Where did
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the 36 and a half trillion go? And where's the 40 trillion? We got debt. And by the way, we
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spent hundreds of trillions to get there. Because remember, you had $4 or $5 trillion coming in
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a year in revenue to offset it. I'm just talking about the gap. Where did the money go? Have
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you seen it in your neighborhood? Are you sitting there and it looks like paradise? Right? You
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got great jobs, huge opportunities, high value, added manufacturing jobs, little industries
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built around a service business, coffee shops, bodegos, little boutiques where people selling
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stuff for those small things people like in life. You see that? Uh-uh. Where'd the money
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go? Tell you what. Look at the valuation of the stock market. Look at the concentration of
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wealth. It went to the oligarchs. It's a game set up by the oligarchs that they win. You've
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seen it again here now. Why are we going to make a big deal about this? And why are we going
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to have a fight right here before Christmas when we should be in the Christmas spirit?
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We're here in Advent and should be in the Christmas spirit? Because this portends the future.
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This is when Trump gets in and we're in the firestorm. Because you just sit there, you heard
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it. We played the thing from last night with Rachel Maddow, ACLU guys. We're waiting.
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We're waiting. We're holding. We're holding our fire for when the deportations come. We're
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going to have the cameras everywhere. And that's when we're going to flip the nation on Trump.
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We're waiting. We're lying in wait. They're lying in wait. With all of it. With all of
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it. And you got Jason Smith and those guys. Hey, Jason, here's ways and means. I got just
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a question. Here's simple. To cut, why do you need all this time to do that? If you're going
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to just cut no tax on Social Security, no tax on overtime, no tax on tips. And hell, throw
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Josh Hawley's child credit in there. Throw that in there, too, for folks so that we have
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more kids and we can also toss that in there. How long is that? I think Jason Smith, we can
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type that up this afternoon. Slap a tax increase on all the wealthy, all the corporations, all
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the billionaires, take off carried interest, all the scams and games they play to line their
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own pockets. We could take an hour just to do all the transfer of money over the NGOs,
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all these games they play. We could take another hour of that. So it's 20 minutes to write the
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populace in an hour to mark up the thing on wealthy. That's an hour and a half. Let's just
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get it up. One can say, hey, I'll do that. Let's just take that on 20th. No. Why does
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it take so long? Because they're at the trough. These lobbyists, they're in to get every tax
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break in the world for the corporations. You don't believe me? We have four and a half trillion
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dollars of proceeds, tariffs, fees, personal taxes, all taxes, four and a half trillion, roughly
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four and a half trillion. How much corporate tax is it? How much corporate tax? When I ask
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this question, oh, at least 50%, maybe 60%. You would be incorrect. It's about $500 billion.
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Oh, you can't raise taxes on corporations. Well, look, all they've done since the 2008 crash
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is take $200 billion in tax credit they got. And what they did, they instead of putting in
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plant and equipment and capital equipment here in the United States to build high bay, added
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manufacturing jobs, you know what they did? They did stock repurchases and stock buybacks.
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Game the system. So the stock price goes up, boom, their warrant packages are worth a lot
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of money. They blow out of there and it's, I'll see you later. Alligator. I'm just giving
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you the math. $500 billion total corporate taxes. $500 billion. That's it. Unbelievable.
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Governments are falling all over for the same reason. It's called, they're too leveraged.
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They got too big of deficits. They can't finance it. They got a cut. And now the knives are coming
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out. Ben Harnwell from Rome. Give me your assessment. I got, I got the Jim Rickards on deck.
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What do you got for me, Ben? Well, with regards to Europe, Steve, my, my takeaways, it's actually
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astonishing how the world's mainstream media is looking at these events and failing to even attempt
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to draw the lines. You can always get a sense of deja vu reading the newspapers. You're seeing the
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same sort of headlines describing the same situations. And none of the world's foreign
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correspondents are saying, hang on, you know, basically this all seems to be the same thing.
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Let's see if we can unpack this. Looking at Germany, looking at France as well, these two countries
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are extremely closely related. The German situation, now they're going to have, with all due respect to
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what CNN was saying earlier on, this losing the vote of confidence was actually what Olaf
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Schultz, the German chancellor, wanted, because there was no other constitutional mechanism to go
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to early elections other than losing this vote. That was very much part of his design. But you're
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looking at the two parties in Germany, the Social Democrats and the Christian Democrats,
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and they're both trying to out-compete one another to see which party can more autistically
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ignore the German people. The social Democrats have basically continued Angela Merkel's policy,
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who is a Christian Democrat. They've continued her policy with regards to immigration, which is
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massively unpopular in Germany. The Christian Democrats, Friedrich Mertz, Merkel's successor,
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is saying, okay, no, no, we're going to tighten up on immigration, but we're going to be even more
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gung-ho on Ukraine than Olaf Schultz was. He's very much, I think, if the war impossible has to put him
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in a category, he's very much, I think, like Georgia Maloney on so many different fronts, this guy.
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This is why the real development in Germany isn't happening between the centre-left or the centre-right.
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It's what's happening with the AFD. Now, they are projected to go at the next elections on February
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the 23rd from about 10.3%, where they've got about 83 seats, up to about 18 points at the next
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election. They're going to have an eight-point jump, and they're projected to pick up around 30 or so seats.
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That, I think, is the real movement, what's happening in Germany. Just to quickly say to France,
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and my big point is on Ukraine, and I don't want to cut into too much what Jim Rickard is going to
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say here on tying the European developments together. But looking at France, here's how you
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know the mainstream media is lying to you. The whole frame, when their government fell three weeks
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ago, the whole frame was, oh, you know, well, these three billion worth of tax cuts, tax increases,
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I should say, on electricity bills, they're very unpopular with the French people. See,
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nobody mentioned whatsoever that however unpopular three billion worth is on electricity bills,
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Macron had given 7.5 billion euros to Ukraine, and no one is drawing the line between cause and effect.
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Yeah. Well, the voters will. Hang on for a second. We're taking a short commercial break. Jim Rickards
00:14:36.200
is going to join us on the other side. Home title, like 90% or 80% of your net worth is tied up in your
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it out today. Short break. Jim Rickards on the other side.
00:15:00.360
Big victory on five November. Now the work can finally start on the big issues facing the country.
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One of the biggest is the national debt and the deficits that drive it. Hey, you think the country's
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silver today. Here's your host, Stephen K. Band.
00:16:22.360
Okay, folks. We're bringing in Jim Rickards, who's one of the world's specialists in the area, but
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as sure as the turning of the earth, what you're seeing happen in these other, you know, the fall
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of the French government running the parliament for the first time since 1962, Germany. And yes,
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he wants an earlier election, but they're crumbling. In Canada, he's about to get turfed out. You're
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seeing this all over the world now. In South Korea, it's a slightly different reason. But basically,
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we're heading towards a margin call on out of control on these legislatures or parliaments
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that didn't have controls of their executive branches that spent an enormous amount of money.
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And nobody knows where the money went. Where'd it go? Is it in planting equipment? Is it making
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people's lives better? Is it creating high value added jobs? The answer to that, you answer it. Don't
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look to me. You answer it. Look around. Jim Rickards, we've got you in here today to make sense of this
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madness because it's coming to the United States. You're going to have in the next 48 hours, a total
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freefall, a total firefight on Capitol Hill where virtually no Republicans, unless it's people that
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have to because of the hurricanes or the floods or whatever, they have the packages in there to
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help people that their constituents need that money. Other than that, virtually every Republican is
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going to fight this. You're going to have Democrats. So once again, Johnson's going to prove that he's
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just a speaker for the Democrats. It's going to be a firefight on something that should be the,
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and this is the easy one, ladies and gentlemen, this is the easiest one we're going to do,
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a skinny CR. This is so elemental, so easy. This is nothing compared to what's coming
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after President Trump takes the oath of office. That's when we're playing Major League Baseball
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Well, Steve, that was a great reel you had on, you know, kind of governments falling around the
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world, and Ben had a really good update on Germany. That could have been twice as long.
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In Romania, I would say mildly pro-Russian, or at least once to talk to Russia,
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candidate one, a free and fair election. He was going to be the next president of Romania,
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and the Supreme Court of Romania invalidated the election and said, sorry, you have to take it,
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you have to do it over again. In other words, we're supposed to be fighting for democracy in Ukraine.
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That's a joke. Zelensky's term ran out last May. He's a military dictator right now. There is no
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democracy in Ukraine. But now, as of now, there's no democracy in Romania, because they just
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invalidated the election. Of course, we have the situation in Korea, different fact patterns. But
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your basic notion that governments around the world are falling is correct. I have a little more
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insight on our friend Christia Freeland. I know her very well. She and I were debate partners.
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Just tell the story briefly, a high-profile debate. We spent months talking to each other, preparing,
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you know, et cetera, et cetera. We go, we do the debate. I thought she was a pretty good friend.
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Like I said, we talked all the time. Well, we lost the debate. You know, hey, you win some,
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you lose some. But there was a big gala afterwards. And we might have said, I would go to the bar,
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have a drink, you know, congratulate our opponents and all that. She turned her back on me. She never
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spoke to me again. I mean, she was a snake. And she still is. And by the way, and she just stuck the
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knife in Trudeau's back. You know, we saw that yesterday. But here's the thing with Christia.
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This is being positioned as it's all about the tariff wars. Trump, Trudeau's not tough enough,
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she'll be tougher, et cetera. It's really very much about Ukraine. Her grandfather was a Nazi
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sympathizer in Ukraine in World War II. Probably more than that, but that's that much is very well
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documented. She's rabidly pro-Ukrainian, shows up at rallies in Ukrainian dress, a total warmonger,
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very much in the World Economic Forum, you know, orb, if you will. And so part of what she's doing,
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she's trying to run Trudeau off the road. She wants to be the party leader and ultimately the
00:20:27.240
prime minister. But a lot of her motivation is about keeping the war going in Ukraine.
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So you need to kind of see where that's coming from. And yeah, you know, we mentioned Romania
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and Germany. I think Ben had it exactly right. The more conservative party there is set for major
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gains. And let's not forget the UK. I mean, what happened there? So Labour has the biggest majority
00:20:51.240
by seats, but they had a worse performance by votes than they did the last time they ran. And
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the point is they have a, let's go first past the post, meaning if you have three candidates,
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the one who gets the most votes gets the seat, even if it's nowhere near a majority. Well,
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what happened was reform, which is Nigel Farage and the Tories split the votes in a lot of
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constituencies. So the Labour candidate won, but if you combine reform and the Tories, they got the most
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votes. So we'll see what happens there. But, you know, we'll leave it to our friend,
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Nigel Farage. But some kind of combination between reform and Tories would win the next election. So
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we keep an eye on that as well. So it's, yeah, the governments are falling all over the place,
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Well, so when she said, and I agree, she, she, she's very cunning, but she's smart and tough.
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In her letter, she said, she said to Trudeau, she says, hey, you're not taking Trump's and she,
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quote, aggressive economic nationalism seriously enough. We've got, we've had you, we've got big
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deficits and the, and you're presenting a bill has a bigger deficit. We need to keep our powder dry
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to basically see what the madman south of the border comes at us with. In that regard,
00:22:08.520
she's quite correct, right? President Trump has taken a very economic nationalist stance here
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between Mexico and the United States, between Canada and the United States, and between China
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and the United States. In that regard, it's these deficits. This is what turfed out the government
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in France. This is what essentially turfed out. This is what's going to turf us out. You can't run at
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six, seven, eight percent deficits to GDP. At some point in time, you should get them to zero,
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but if you can't get them to zero, you at least got to get them under three percent is,
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and nobody's doing that. Nobody's taking the cuts to get there, Jim.
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Well, that's right. This is, you know, Scott Bestin's three, three, three plan.
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And deficits at three percent of GDP, growth at three percent, real growth at three percent.
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But with two percent inflation or three percent inflation, your nominal growth will actually be
00:22:57.160
five or six percent. And that's what counts for debt purposes. Real growth, it counts for everyday
00:23:01.960
Americans. But if you're trying to manage the debt, debt is nominal and growth is nominal.
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So if you get three percent deficits and six percent growth or five percent growth,
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you're growing faster than you're adding more debt and your debt to GDP ratio is going down.
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You're never going to pay off the national debt. You don't have to. You just have to make it
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sustainable and have the ability to roll it over. But the way you do that is to grow faster than
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you're adding debt, which is exactly what Bestin is proposing. It's, you know, this is fifth grade math,
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but the point is try doing it. And that's the difficult part. But you're right. It's an issue all over
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the world. But she wants to take a hard line. She wants to fight the trade war. Good luck. I mean,
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Canada and the U.S. have one of the largest bilateral trading relationships in the world,
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period. And Canada relies on, you know, CUSMCA, U.S.-Mexico-Canadian agreement. It's a successor
00:23:50.040
to NAFTA. It's a better deal for the U.S. But Canada is utterly dependent on that. Well,
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Canada is a rich country, a very small population, about 30 million. And between, you know, in effect,
00:24:00.200
free electricity coming from hydroelectric in Quebec and the oil output from Alberta, even though they've
00:24:06.280
tried to squash it, they can afford a lot of benefits that other countries can't. But they
00:24:11.800
cannot afford a trade war with the United States. And that's where they're heading. And that's where
00:24:16.840
they'll end up with her in charge. But she's playing a deeper game. And again, it has lots
00:24:22.200
to do with trying to hurt Trump, hurt the U.S. economy and support Ukraine.
00:24:27.000
Let's talk about the three that fell for different reasons. South Korea, Syria, and now the Ukraine.
00:24:36.680
You take them in any order you want, but we've got chaos throughout the world that's even above economics, sir.
00:24:43.160
Did I lose Jim? Okay, let's go ahead and let's go ahead and try to reboot him if we can. Jim Rikos,
00:24:59.480
let's bring in, do I have, do I have, in Rome, do I have Ben Harnwell? Ben, let's talk about,
00:25:05.400
you've got a lot to say about Ukraine. This Ukraine situation is, I think it's got to go to full stop.
00:25:11.720
President Trump has been very magnanimous. He's been talking about, hey, we need to,
00:25:15.720
we need to put down, we need to stop launching, laundering missiles. It turns out, believe it or
00:25:20.920
not, folks, President Trump said yesterday at the press conference, he was not consultant,
00:25:25.720
nor was he informed by the White House. This is what I say in the three lines of work, the Third World War,
00:25:31.720
the border invasion, and now the financial crisis. The financial crisis, it's, you know,
00:25:41.080
they're not even keeping Trump in the loop. In fact, they're doing things to hurt him. Give me
00:25:44.520
your assessment of Ukraine. Denver, if you very kindly put up the article, I'm talking from
00:25:50.760
foreign policy. This is their one headline, keep Ukraine out of talks to end its war. This is a
00:25:58.840
foreign policy, right? So, so for the, for the war in posse, it's not the national pulse or gateway pundit,
00:26:06.200
or human events or anything. This is basically, along with foreign affairs, these two magazines.
00:26:11.800
This is, if you read these magazines, you're basically hearing the international rules-based
00:26:16.520
order talking amongst itself. Thanks very much, Denver. And here, for the first time,
00:26:23.240
is an article written by Anatole Leven, who's the director of the Eurasia program at the Quincy
00:26:29.480
Institute of Responsible Statecraft. But he's basically saying, it's the first time I have seen in
00:26:34.520
three years of following this Ukraine war. In the mainstream media, the idea that Zelensky
00:26:40.040
himself is an obstacle to peace. Now, obviously, for the war in posse, we know this.
00:26:46.520
It's sort of, what's the newsflash here? But it's interesting to see now that in an organ,
00:26:55.000
in a magazine of this degree of responsibility, of authority, the argument is being made that
00:27:02.280
Zelensky needs to be sidelined. Specifically, Steve, I have to bring on the show this. Those
00:27:07.640
folks who follow me on Getter will know that I am pushing again and again and again this issue about
00:27:14.040
the security guarantees. This is something, for example, General Kellogg has been pushing as one
00:27:23.000
of the options for President Trump's consideration for negotiations.
00:27:28.520
No, no. Hang on, hang on, hang on. We can't give security guarantees. We can't give security guarantees
00:27:34.760
with American troops in Ukraine. Impossible. We can't give security guarantees in Syria. Ben,
00:27:40.360
just hang on for one second. I'll bring you back after the break. Birchgold.com.
00:27:45.000
End of the Dollar Empire, Modern Monetary Theory is our new installment. Make sure you sign up and get
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it today. If you can't get to the .com, just take your phone out. Bannon at 98989. Just text it,
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get all the free information about IRAs, 401ks, all of it from the specialist Philip Patrick and
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the team at Birch Gold. Jim Rickards, Ben Harnwell with me after a short commercial break.
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OK, today at one o'clock, it's totally free, as is all our content. Grace will put this up on all of
00:29:43.560
our different platforms. There's going to be a committee in the present danger, China,
00:29:47.320
chair by Frank Gaffney, today, a webinar, Treacherous Transition. This goes through everything
00:29:52.600
the Xi Biden are doing on the transition. You're going to have Ben Burkwam is going to be there.
00:29:57.240
Captain, the great Captain James Fennell, George Raskley, Dave Walsh, Peter McElvenna,
00:30:04.360
Colonel Rob Maness, and many, many others are going to be talked about in detail. You don't want to
00:30:09.560
miss this. This is committee on the present danger. I think it's the last webinar of the year. Starts at
00:30:13.720
1pm will be on all of our different distribution platforms. Check with Grace Chong to find out
00:30:21.880
where. Jim Rickards. By the way, I got to spend a lot more time in the geopolitics of this, so I've
00:30:29.240
asked Ben Harnwell to get ready. He's going to join me in the six o'clock show tonight. Jim Rickards.
00:30:36.280
You know, this South Korean thing kind of came, and this is why you talk about, you know this,
00:30:41.800
you were kind of hung out in the CIA for a few years. I keep saying that the intelligence apparatus
00:30:47.720
is a disaster. Caught by surprise about what's going on in Germany. Caught by surprise of what's
00:30:52.840
going on in France. Caught by surprise of what's going on in Syria. Caught by surprise of what's
00:30:56.360
going on in Romania. Totally caught by surprise of what's happening in South Africa.
00:31:01.240
So, why, first off, what's going on in particular in a place like South Korea and in Syria? And why
00:31:09.160
does the intelligence apparatus seem like we're at the worst possible, particularly when President
00:31:16.440
Trump and folks are even looking at alternatives of doing bombing runs on the Persians' nuclear
00:31:22.600
capability, sir? Well, you're right about the intelligence community. It's been a long time
00:31:27.720
there. And it's not that they're stupid or incapable. It's that they have a hidden agenda.
00:31:32.200
So they're pursuing their agenda, not what Trump's proposing. We can't get John Radcliffe and Tulsi
00:31:38.520
Gabbard in there fast enough. Here's the thing with Syria. The notion that, you know, you've got these
00:31:44.280
rebels. They took Damascus. They're going to set up some government. The Biden White House,
00:31:48.440
actually. So why don't we have the UN and have a kind of a convention and get all the groups and come
00:31:53.000
up with the Constitution? Are you kidding me? There is no government in Syria. That's the point.
00:31:58.360
It's not even, you know, is it the Turkish government? Is it, you know, Alawite? Is it
00:32:04.440
these rebels? There is no government in Syria. That's very critical to understand. Turkey's going
00:32:09.960
to try to run the show, but they're not going to be able to. Their concerns really with the border,
00:32:14.920
the Kurds, and the extent to which the Kurds have interest inside Turkey. So yeah, that's a legitimate
00:32:21.160
interest for Turkey. But no one's in charge in Syria right now. Israel's taking what they want,
00:32:25.960
and why not? But I would look for much worse results coming out of Syria because of that
00:32:31.800
complete absence of any government. And ISIS is on the rise again. All the things that, you know,
00:32:36.520
Trump got rid of ISIS in a matter of months, actually, after several years of a rise under
00:32:41.800
Obama. But the intelligence community, they're still living with the legacy of Brennan,
00:32:45.880
you know, John Brennan and Hayden to some extent, which is they actually sympathize with Iran.
00:32:51.720
So yeah, if you sympathize with Iran, that's, this is the kind of result you get. On Ukraine,
00:32:57.880
just quickly, Biden has, what they're doing, if you're familiar with chess moves, this is called
00:33:04.680
a fork. And a fork is when I put my piece in a place, and I attack two of your pieces at once.
00:33:10.600
You can save one, but you're going to lose the other. So either way, you lose. So this is what they're
00:33:14.360
doing to Trump right now. There's something called the ghost fleet. Russia's exporting oil.
00:33:20.040
You know, they're putting it in tankers, not insured in London, whatever. They're working
00:33:24.280
around the sanctions and getting the oil out. Biden just put on sanctions that say the ghost
00:33:28.760
fleet cannot call on any port, you know, anywhere in the world, etc. They'll keep doing what they're
00:33:33.880
doing. But here's the dilemma for Trump. That's going to raise the price of oil. Russia can do the
00:33:38.280
workaround, but it's going to raise the price of oil. So you dump it in Trump's lap and you say,
00:33:42.600
if Trump removes the sanctions, he'll be a Putin puppet. But if he keeps the sanctions on,
00:33:47.480
they'll blame him for inflation. So that's a fork. You lose either way. The other one
00:33:52.520
has to do with the escalation of the war. We're firing missiles into Russia. Russia came back with
00:33:56.600
a Russian missile, which basically makes tactical nuclear weapons obsolete. This thing, it doesn't
00:34:02.440
blow things up. It turns them into dust. But everyone would have thought the U.S. would have got
00:34:07.400
the message that we're continuing to fire attackers into Russia. So again, this is going to be dumped
00:34:12.840
on Trump. So now if Trump continues that path, which is just aggressive escalation all along,
00:34:20.040
the Ukrainians are going to lose the war. That's just a matter of time. But Trump will get blamed
00:34:23.960
for it if the war continues. On the other hand, if Trump negotiates something, and why should Russia
00:34:29.320
give up any territory? It's a war. When you win wars, you get to keep stuff. That's what the U.S.
00:34:34.200
for policy establishment doesn't seem to understand. So if Trump negotiates the peace that Putin will
00:34:39.720
insist on, he'll be a Putin puppet. But if he continues the war, he'll get blamed for losing
00:34:44.440
the war. So what Biden's doing is very clever because they're putting Trump in the, as I said,
00:34:48.520
the fork. He has he has choices, but he's going to lose one way or the other. The solution for that
00:34:53.640
is for Trump to get ahead of it with education. Just say, talk to the American people and say,
00:34:58.200
here's what Biden's doing. It's not in our best interest. We need to get around it. And the third thing,
00:35:02.120
very quickly, you and I talked almost a year ago about stealing the Russian assets, U.S. lawfully
00:35:07.560
owned U.S., Russia's owned U.S. Treasury securities. They've been seized by the United States. That
00:35:13.720
happens all the time. But now they've actually been converted into a loan to Ukraine. They've been
00:35:18.760
stolen. And they had a little party in Janet Yellen's office. They got, I don't know if there was any
00:35:24.120
champagne there, but they were high fiving when they saw the wire transfer go through on the ledger,
00:35:28.200
etc. This is this is another nail in the coffin of the dollar. I'm not saying the dollar collapses
00:35:34.440
overnight. Actually, the dollar is quite strong right now, except relative to gold. But they're
00:35:39.000
they're destroying the U.S. dollar over time with with these by stealing these assets. So
00:35:45.960
Biden's doing everything possible to basically burn down the United States,
00:35:49.640
what I call the Viking funeral before Trump gets in. But Trump needs to be alert to it. I'm not sure
00:35:54.440
Walsh and General Kellogg are really, you know, quite as attuned to what Biden's actually doing
00:35:59.960
as they should be. I totally agree with you on that. Jim, where do people go to get access to
00:36:07.960
all your newsletters? The newsletters are amazing. You got general newsletters that give you overview
00:36:12.920
of geopolitics, capital markets. Then you have specialty. Plus, you have all your writings. Where do folks go?
00:36:18.360
Thanks, Steve. We have a landing page. It's called RickardsWarRoom.com. RickardsWarRoom.com. That's
00:36:26.280
R-I-C-K-A-R-D-S. RickardsWarRoom.com. You can go there and get our flagship newsletter,
00:36:31.720
strategic intelligence. And then beyond that, we have book offers and a lot more. So we hope people enjoy
00:36:36.680
it. Jim, glad to have you on here. Look forward to having you next week and do a
00:36:44.680
end of your summary. So thank you, sir. Thanks. Jim Rickards right there with the fall of these
00:36:52.520
governments. More fiasco. Do we have Johnson? I want to get back to the CR. We'll be covering this,
00:37:00.440
obviously, this afternoon and this evening. But this is another complete and total debacle. Let's go
00:37:06.680
ahead and play. I think it's Speaker Johnson at his press conference. Let's go ahead and play it.
00:37:10.120
Let me talk briefly about the funding of the government. The CR is coming together. Bipartisan
00:37:16.920
work is ongoing. We're almost there. We worked really hard to achieve consensus on a bill that
00:37:21.720
responsibly funds the government into March of next year. It'll go to March 14. And that date was
00:37:27.400
chosen because it coincides with the calendars of the House and Senate. And it makes sense for us to get
00:37:32.040
the appropriations done. But our aim is to do it early in the year, not wait till March. And all the
00:37:37.560
appropriators and the people on the committees of jurisdiction are already working to do that.
00:37:43.800
We've been working around the clock to get the CR done. It was intended to be, and it was until
00:37:49.640
recent days, a very simple, very clean CR, a stopgap funding measure to get us into next year when we
00:37:56.040
have unified government under the Republican Party. But a couple of intervening things have occurred.
00:38:02.200
We had, as we say, as we describe the Max of God, we had these massive hurricanes, as you know,
00:38:07.880
in the late fall, Helene and Milton and other disasters. We have to make sure that the Americans
00:38:13.240
that were devastated by these hurricanes get the relief they need. So we are adding to this a disaster
00:38:18.600
relief package. And that's critically important. Also important is the devastation that is
00:38:24.200
that is being faced by our farming community. The agriculture sector has really struggled.
00:38:29.800
They've had effectively three lost years. And commodity prices are a bit of a mess. And you've
00:38:37.080
got input costs that are skyrocketed because of biodynamics. You put all those factors together,
00:38:41.640
droughts and all the other conditions. And you have a lot of small family farms and
00:38:46.200
ranches and people who supply the food for the country in dire straits right now. And so Congress
00:38:51.000
recognizes that need. And so we've had to add a little bit to that as well. So what would have
00:38:55.800
been a very skinny, very simple, clean CR has been at these other pieces have been added to it and a
00:39:02.440
couple of things that are related to all that. But I'm not going to get into much more detail
00:39:07.480
because it's almost done. But we do expect text today. And we are going to try. Let me answer your
00:39:12.120
question in advance. We are, I believe in the 72 hour rule rule, I've said that to all the House
00:39:17.080
Republicans this morning, I believe we ought to try to pass this on a rule to go through regular
00:39:22.520
process. We're committed to all of that. We're going to take care of these obligations and get
00:39:26.440
this done. And then we're going to go to work in unified government in the 119th Congress.
00:39:34.120
Okay. I'm not so sure that's accurate, but I'm open to having a chance because we've been
00:39:37.960
doing the show. I'll look at it. I think it's more
00:39:39.960
more than the emergency for the farms and the, and the, and the, uh, and the, and the hurricanes
00:39:45.320
and such. But then still we're talking 90 days, December 20th, January 20th, the February 20th,
00:39:53.240
the March 20th, it's 90 days. It's 90 days. Now I understand something hurricanes, maybe something
00:40:00.120
the farms, but if that needs to be done sometimes within 90 days and you can't find the money elsewhere,
00:40:06.200
you're still schloffing around, right? You're telling me, okay, maybe a tiny couple of lines
00:40:15.640
on that. That's not what I'm hearing is in this. And people are, they're in an uproar because they
00:40:20.200
weren't brought into this process. And I hear that there's free trade for the Haitian t-shirts
00:40:27.000
or whatever. I'm sure that's just a minor thing, but I just don't trust Johnson on this. I don't trust
00:40:32.600
Johnson that you're just hearing about it now, that it gets just dropped now. So we're going
00:40:37.960
to look into this, uh, and if it should be supported, obviously the worm supportive,
00:40:41.800
it shouldn't be supported. It won't be my bigger and deeper concern is that under Johnson,
00:40:50.840
we're about to hit a firestorm with huge. I mean, the whole 2025 spending package, including
00:40:58.760
what Vivek and Elon and, you know, you're not going to wait a couple of years to do Doge.
00:41:03.880
President Trump wants it done now. And that would be, this is the whole reason we're doing the CR,
00:41:08.360
to kick the thing into when President Trump takes over. And these cuts are going to be substantial.
00:41:14.840
The reorganization will be substantial. They're talking about eliminating entire departments,
00:41:18.280
which is the way you have to do if you want to cut. Remember, it's programs and departments and
00:41:22.040
billets, not really about individual people and not about little teeny, you know,
00:41:29.000
research and things like waste, fraud and abuse. It's deeper than waste, fraud and abuse. It is
00:41:33.720
exactly what you are trying to accomplish in the government. And you're trying to accomplish two
00:41:37.720
months from the, from the hegemony of the American empire, all the way to the nanny state
00:41:44.840
in everything in between. And that's where we're going to really need a heavy lift and people to
00:41:49.960
be brought into the process early. When we get to this, this is going to be also the afternoon
00:41:56.840
shows and it's going to be a big fight up on Capitol Hill. We're going to be all over it. I'll get a
00:42:00.680
chance to break this down after the, uh, after the morning shows. Uh, the great folks at silent,
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TNUSA.com slash Bannon. TNUSA.com slash Bannon. Here's your host, Stephen K. Bannon.
00:44:06.680
TNUSA.com slash Bannon. Okay, do I have Lindell or Thund? Okay, hang on a second. We're
00:44:14.600
heading out. We're going to be in Phoenix at Charley Kirk's AMFEST. Charley Kirk follows us here on
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Reel America's Voice. Two hours of populist nationalism as only Charlie and the team over
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it up they're absolutely fantastic posos after that with human events daily and then we're back
00:44:33.400
five to seven uh tonight um we're going to cover it we'll have a lot more coverage of this whole
00:44:39.300
cr fiasco up on capitol hill because of fiasco it is um amfest i think i'm speaking opening night
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with tucker and don jr that's the 19th when everybody particularly any world or posse people
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and we haven't i'm trying to figure it out right now we're going to hang together we're going to
00:44:57.900
figure it out we'll get uh we'll get to meet you guys get selfies do all that catch up with where
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fellow cadre members say and um and check it out two other things cash patel's in the middle of the
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firestorm if you notice cash is now the one they talk least about that was the one they had the most
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we put our shoulder we also got information out as i kept saying cash is i think the most qualified
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we look at counter-terrorism and counter-intel that they've ever put up one way you see what
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cash is thinking about hey how you have to sort this mess out and i said the other day it's going
00:46:45.180
to have to be sorted out we can't look the other way you got government gangsters his book but we did
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a film about it just with cash i made this film very specifically so cash could actually present to
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you in even a more accessible form than the book government gangsters you get that at war film
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war room dot films we're going to put a lot of movies up and back into the production business
00:47:07.260
kind of my spare time we got a bunch of big announcements coming on films that we're working
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on so go war room dot film i think that's singular people tell me film room dot film go check if it's
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not then put films put an s on it but go check it out today you can get government gangsters look at
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that share it over the holidays cash is confirmation hearings coming up i hope
00:47:30.260
early in january uh to get it all done also dan fluid who's my producer on that film and co-writer
00:47:36.480
um is uh we just he did a book the pictorial history of the war room it's stunning the photography
00:47:45.760
stunning uh but the writing is also great i didn't know dan was a writer but it's really magnificent
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you get the whole sense of from the contributors that people put the show on over the last five years
00:47:55.780
it is a great i can't think of a better gift for the maggot crowd and it's a great put it on your
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coffee table is a conversation piece you'll love dipping in and out of it that is uh the book uh was
00:48:06.700
it rogues rebels the pictorial history of the war room it's up on amazon or you can go to skyhorse
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books check it out on the war room books really probably got a bunch of big announcements war room
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books at the beginning of the year some stuff you're really going to get excited i'm so
00:48:21.420
pumped as you know i uh i love reading and uh we've done such the tony elaine lafferty and uh
00:48:29.140
tony lyons done such a great job of building the publishing arm uh mike lindell joins me mike
00:48:35.340
lindell it's the christmas season i think we're now this is the first day post free shipping is that
00:48:40.820
correct yeah but but see this is the last day we guarantee the shipping by christmas so this is
00:48:47.480
really important everybody this is the day you want to guarantee we give you guarantee that uh
00:48:53.320
that your presence will arrive before christmas and we've got everything on sale for the war room
00:48:58.840
posse i want to first point out these blankets these blankets right here are 109.98 it's this is
00:49:05.440
exclusive for the war room this is a gift you got 29.98 these are the best gifts ever uh we have
00:49:11.400
these other plush blankets that just came in these came in a week ago another war room exclusive uh
00:49:17.220
and and we're running at the giza dream sheets we're running this one more day the giza dream
00:49:22.460
sheets this was a war room exclusive just in time for christmas this is our flagship product this is
00:49:28.620
the one our real president loves i love it i designed these over five years ago it was all over t we sold
00:49:35.380
um millions of these seat sets because they work they help you enhance your sleep there's a they're
00:49:42.340
the most amazing sheets you'll ever sleep on 69.98 queen 79.98 king go to the go to the now go to the
00:49:50.920
um um website click on go down tsc steve and click on his face there and there it is all the war room
00:49:57.880
specials guaranteed by christmas even the beds with a hundred dollars off get yourself a gift
00:50:03.520
all the slippers remember everything we make like the slippers they're made with impact you know it's
00:50:08.800
problem solution they actually work they actually can wear them like shoes all day all these gifts
00:50:13.840
all the sleepwear this is going to go away too the last day save up to 80 on the sleepwear the bathrobes
00:50:21.140
you guys do all your christmas shopping today's the last day we're guaranteed to arrive by christmas
00:50:26.860
so you guys it's uh this is the way to get all your shopping done and my employees were thanking you
00:50:32.480
uh merry christmas to all of you for uh helping my pillow get through some of the toughest times
00:50:38.420
we've ever had um i spent all these last two weeks with irs attacking us again and we're getting through
00:50:44.720
that by the way everybody i believe we're coming out with a big win uh 800-873-1062 all my home reps
00:50:53.140
remember that was a big victory remember the irs they didn't want them working from home everybody else
00:50:58.180
can but not my pillow employees we won that that was this summer and we won that they're all too
00:51:03.840
they all work off commission from home let's make them and get a merry christmas you guys i'm going to
00:51:08.980
extend our christmas guarantee to march 1st of 2025 so any product you get from my pillow we treat every
00:51:16.980
customer like it's our only customer and you guys say you're you get that as a gift that customer
00:51:24.680
mike lindell we love you brother look forward to seeing you to promo code war room promo code war
00:51:33.060
make sure you use that mike lindell love you brother see you this afternoon
00:51:35.900
from the factory floor of my pillow mike lindell
00:51:40.820
saint john the evangelist takes us out with uh when the man comes around we're going to be back here at
00:51:46.900
5 a.m live stick around for charlie kirk jack pasoba we'll see you back here real america's voice in the
00:51:53.820
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that is donewithdebt.com do it today action action action will include things like preservatives
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artificial ingredients and other additives that really aren't benefiting your health
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so that's why we created sacred human really trying to fill this gap of quality supplements
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and of course the beef liver being our flagship products for those who don't know beef liver is
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loaded with highly bioavailable ingredients such as vitamin a b12 zinc coq10 etc and because it is 100%
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synthetic multivitamin or any other synthetic vitamin in general so we have some other amazing products but
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if you'd like to check us out you can go to sacredhumanhealth.com and cheers to your health
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700,000 americans every year yes heart disease is the number one killer every year year in and year out
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heart disease builds over time hypertension high blood pressure bad cholesterol diabetes all of it
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