Episode 4318： Developing A True Free Country; Gaining True Control Over Your Life
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Summary
In this episode, we discuss the impact of President Trump's tariffs on the auto industry, the impact on soybeans, corn and other farm products, and the potential impact on the stock market. We also talk about the impact these tariffs may have on the economy, and whether or not they are a good or bad thing.
Transcript
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prices for Ford and General Motors since the inauguration day compared to the overall market.
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The overall market we know has come down still up here. Ford and General Motors kind of went off a
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cliff after inauguration, down 10% for General Motors, about 7.5% for Ford. And here's a quote
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from the Ford CEO before yesterday, tariffs will blow a hole in the industry that we have never
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seen. And so he said in his speech just now that he had spoken to all three automakers and they were
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happy. Well, a day later, they called the White House and said, no, we're really not so happy.
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We need you to at least pause these tariffs and hopefully get rid of them.
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So Trump also touched on how tariffs, a different set of tariffs,
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may affect America's farm workers. Let's listen to some of that.
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Our new trade policy will also be great for the American farmer. I love the farmer.
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who will now be selling into our home market, the USA, because nobody is going to be able to
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compete with you. He later said that farmers go have fun. But Steve, you say that they'll lose
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a huge market to actually sell their goods. Well, he may love the farmers. I'm not so sure
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they love him at the moment. Let's just go back to Trump one for a second, because he also put tariffs
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on, as you remember then, and there were retaliatory tariffs in 2018 and 19. The government
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collected a total of 50 billion dollars from all the tariffs that we impose on things coming into
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this country. We then gave back 24 and a half billion dollars to the farmers to compensate them
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for their lost exports. So that did not go so well. Let's see why we export a huge amount of
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soybeans, 7.7 billion and even more of corn, 13.1 billion. We export virtually none of it. So if we
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lose these exports, this stuff stays in the American market. Americans are already buying all the
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soybeans and corn they want to buy. So I don't really see how this is great for American farmers, how this
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sort of allows them to, quote, sell things at home when we're already selling everything we can at home
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and sending the rest of it overseas as one of our major exports. This to me was one of the more
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shocking figures that I saw. Made me go, wait a minute, hold on one second. Whoa. Americans on
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Trump and Joe's efforts. Musk and Doge should influence government spending and operations.
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Look at this. 54 percent. The majority say that he and they should. How about a proof of Trump trying
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to cut staff at government agencies? Again, you get a majority here. 51 percent. So yeah, Elon Musk might not
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be that popular, but these cuts and the idea of spending cuts, at least within the federal government
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and cutting at government agencies, that actually has majority support. I was truly surprised by this,
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Kate, but the numbers are the numbers. Well, there is there is a view that cuts across Democrat and
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Republican of people thinking that Washington is too big, bloated federal government, waste, fraud and
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abuse. I mean, those are drain the swamp is what people run on over and over again.
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No, let me have it. No, no. Yeah, I want it. Let me have it. Uh, I want to play that some more
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right there. The same, the consensus and Elon's numbers may be dropping. I would argue he's probably
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a heat shield for president Trump. I think in that regard, positive people are in back of this. They
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want to get the waste, fraud and abuse out. And that is across that. That part of it is across
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aisle. The programmatic cuts are not across the aisle. The Democrats want bigger government. They want
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more intrusive government. That's why it's deconstruction. The administrative state has
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to be done programmatically and by billets. And you're going to have to do the defense part,
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defense department. If you have any hope of doing some of the social programs, including part of
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Medicaid and Medicaid is going to be a tough cut, but I think with work requirements, um, um, block
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granting back to the States where you're not just stiffing the States, it's gotta be some 30% air pocket,
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but I mean a real, a real block grant back where, you know, it's going to be properly managed and
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financed and cutting out illegal aliens. Got to do it. And then you got to get into the, if the
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mandatories, the, the, the, the, the, the mandatory spending, you're not going to get there until you're
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not social security and Medicare are off the table. There's off the table until, and I don't think
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there's any confusion in president Trump. They make a huge, always going through all these numbers,
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people being paid, paid where they're 150 years old. We understand that that is in all likelihood,
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a computer, you know, a computer filing a system. I would love to be that the fact that they were
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doing it, but I think the two mandatory programs you're going to, uh, you're, you're simply going
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to have a, uh, um, it's a contract to the American people and contractually, they're not going to give
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it up when they don't believe the political class. And this gets back to my point on, um,
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on where we are on financing all this. This audience is very important. You guys are critical.
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That's when people come here while they talk, Hey, because of you, you're, you're the, you're
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the factor of human agency. It's your agency. And there's going to be huge in this play. And that's
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why I think it's pretty obvious to back a clean CR, which is something in this audience. You didn't
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back it when I was in prison. Thank God. It made it harder. They want to do a whole year at that time
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and had every reason, every excuse in the book in December is supposed to be to get the
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appropriations, have president Trump's input. Well, I would say that president Trump's input,
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it's not perfect. They didn't get the approach. It's not perfect, but it's what's Doge has found
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so far. We have to have a range. I don't think it's, and I, Hey, in the house, not asking specific
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questions about that last night, you, we got it. You got to stop fanboying. You got to stop the
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fantasy. Don't, we don't have capes on. This is grinding it out. And this is going to be very tough.
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We have to face reality. I particularly don't feel great that after this show was the one that
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said, go, you got to, you forced them across the Potomac to the Pentagon. Cause remember all the
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people around him say, no, no, no, no. Pete Hex is going to handle the Pentagon. Doge will do
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everything else. We had no, no, no, no, no, no. It doesn't work like that. Doesn't work like that.
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Pete's got his own issues and the account audits, all this stuff. This has got to be an outside fresh
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set of eyes. If you're going to do it for part of the government, you got to do it for the biggest
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part. And that's the industrial complex over the Pentagon. Three weeks there. Have you seen any
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big announcements every day? You got Sean Parnell, who's as good a guy as you're going to find head
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of comms over there. And Sean comes out and says, Hey, it's been, I think he told Bloomberg, $80
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million, three weeks, $80 million. I'm not feeling good. You're not going to get to a trillion dollars
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doing that. And we have to see what the reality of the trillion dollars is. If it's a trillion dollars,
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I'd be the happiest man on God's earth. Cause then we would be down the path to a solution.
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Having worked in finance and my entire adult life outside of the Navy, I don't see it because
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you can't feel it. Maybe it happens. And if that's not the case, then you have to go to the programmatic
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cuts. And this is my point. That's when it gets down and dirty. That's when there's no,
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there's no comment across the aisle. It's not. Is Nate up? Do we actually have him? Do we actually
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have me? Okay, fine. You might want to tell me that next time. Nate Fisher joins us, CEO of New
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Founding, taking up half your time. Nate, what is New Founding? You're one of these, you're in this
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movement, in the MAGA movement and kind of this new right movement. You're one of these intellectuals
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that are a tech guy. You understand tech and you're trying to bring tech and, and, and get it
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into the MAGA movement in a smart way. And, and you, cause you're also coming at things in a deep
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spiritual way. Walk through what New Founding is. Why is it important?
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Thanks for having me, Steve. So New Founding is a venture firm. And I would say really what I'm trying
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to do is I'm trying to look at the macro landscape and look at, look at both where we want to go
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and where forces are moving us that are changing the country, largely tech driven forces. And then
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think about the levers in business and technology that can help, both help get us there. And
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ultimately we're, we're a business, we're a venture firm. We're betting on, we're betting on
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businesses that can be profitable if we achieve a outcome we find desirable. So we have a early
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stage venture fund. We've invested in about, at this point, 10, 12 companies, depending on
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when you start. And we have a few companies we're incubating ourselves. Some of which are conventional
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sort of technology ventures. Some of which I would say are, are very different. One is a development
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in Kentucky and Tennessee and rural Kentucky and Tennessee. We're actually focusing on a new vision
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for local and small town life. So I think as technology changes, I, you obviously focus on
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the technological, but people also think, well, hang on, hang on, hang on. The reason I find you
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fascinating, uh, besides the fact you went to Harvard Law School and I think your wife did too,
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and you've dedicated your life, you dedicated your life not to be at Cravath or Sullivan and Cromwell,
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which I find amazing. The, the Guardian, which you know, it's one of my favorite papers
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because so well edited. The content is totally left wing, very progressive, but the Guardian
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says, uh, in particularly about your situation in Kentucky, you're a white nationalist, you're
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quasi cult. You've started this, you're like Robert Owens back in Indiana, what in the, in the 19th
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century, right? You, you've started this kind of, uh, white and it's, it's not in the American
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readout in Montana, Idaho, Wyoming, but you've taken it to Appalachia. What's your response to that,
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sir? Well, the first response is they threw out white nationalists and then, uh, we challenged
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them on it. They had literally nothing in the article supporting that claim at all. So three
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hours later, they changed it to Christian nationalists, which we sort of settled with.
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Uh, but I think a lot of people frame that actually points, I think, to how we approach this problem
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generally. A lot of people look at that. We're building a community where we're intentionally
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marketing it to Christians. We're sort of advertising a very different way of life, a very
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pro-Christian way of life. A lot of people sort of instinctively like to say, well, that must be a,
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must be a cult. But what we've actually done and really the people we've reached here have been
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high agency people who are often grinding it away in sort of a suburban life and a big firm life and
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whatever. And they realize they have almost no control over their life and almost nothing they're
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doing is actually shaping the country in a way that is building a future that they want for their
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kids. And that's just profoundly dissatisfying, not to the sort of low agency people that cults
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often prey on, but actually the high agency people, people who feel like they have the potential to do
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more. So more than anything, what we're trying to do is offer a landscape, offer a platform where
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people like that can come and they can be around a critical mass of other people who share enough of
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their vision, but also just want to build. And so really, I think what has resonated from the very
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beginning, we launched this in January, 2021, a very, very dark day for our movement, a very dark
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month for our movement. What's resonated about our mission is where we're looking for and trying to
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offer paths to sort of, in many cases, regular people, people with business skills or whatever,
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people with people who haven't been, don't see levers for impact in politics for them to feel like
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they can actually build the country they want to live in. And that resonates. That's a very American
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mindset. And it's one that I think people are hungry for. And it has drawn a lot of people over
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the last four years. Those are the connective tissues. I want to get to this because I think
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this is why people are quite, people on the progressive side and kind of our opposition are
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deadly afraid of you because not just the intellect, but it's this kind of Christian nationalism or under
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your belief in Judeo-Christian West in high agency combined that in whatever you're doing, whether
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it's tech investment, whether it's starting this new entity in Appalachia, or whether it's other
00:12:41.820
things you're doing to look through how you can restructure the American economy to be more effective,
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maybe not more efficient, but more effective. You scare people. Why are they afraid of someone
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that say, Hey, I believe in the Judeo-Christian West. I am a Christian nationalist. Uh, and I
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believe in high agency people. I, we, we, in fact, we don't believe low agency people are what in
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cults, but we believe in high agency people, Christian nationalism, the Judeo-Christian West. Why do
00:13:06.280
people, why, why does that make the guardian afraid of you? So I think fundamentally it's, it's,
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I see it as parallel. I see it in some ways as parallel in the business world to what you see
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with the, uh, the, the Trump shift where we're no longer afraid of power. We're no longer afraid
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of recognizing that the, the decisions that are made, uh, in the spaces we operate are values
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laden. So just as I think what you saw with Trump was someone who realized, uh, rather than this sort
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of reflexive libertarianism, principles driven libertarianism, that it sort of governed it, I would
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say hamstrung, uh, Republican politics for so many decades. He realized you can actually use
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government as a force to achieve an end. You are, you are establishing a vision that you find
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attractive. You're rallying people around that and you're using levers at your disposal to get
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there. And in the case of Trump, heavy focus on government, very scary to people who really want
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Republicans to sort of shy away from any of those levers. I would say the same thing is actually true
00:14:08.800
in business and, and, and venture. So venture at its very essence is political. In some sense,
00:14:15.340
you are envisioning a future that doesn't exist. And what an entrepreneur does is an entrepreneur
00:14:20.040
wills that into existence, uh, and uses whatever levers are out there in particular in a time of
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technological change, using the levers of technology can be a very powerful way of achieving the desire
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the end you want. Nate, Nate, Nate, hang on for one second. We'll take a short break. Nate Fisher
00:14:37.660
from New Founding, one of the most consequential young men in this country today. Short break.
00:14:45.020
Have you seen the news from economists forecasting a depression? I'm not talking recession. I mean
00:15:06.640
depression by the year 2030. We're in a perfect storm as social security and Medicare hit a breaking point
00:15:13.220
with the largest generation hitting retirement. A smaller workforce means a smaller tax base.
00:15:20.840
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00:15:26.700
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tell the operator Bannon, you get a free month. Let's go check it out today. Glenn Story and the team.
00:17:34.440
I want to thank him for having us down at Tarrant County. That was amazing. Folks in Tarrant County
00:17:38.140
are absolutely incredible. Nate Fisher, when you're putting money to work at Newfoundland,
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you said, hey, it's actually a political act because you're actually foreseeing the future
00:17:51.340
with the entrepreneur. What is the future you see? You've got this going on in Appalachia.
00:17:56.320
You've got these other endeavors you're working on about actually trying to restructure the American
00:18:00.980
economy. You're a venture capitalist. What is the future that you see? Why? Why is the Guardian
00:18:06.420
consider you one of the most dangerous young men in this country, sir? So key point, we're envisioning
00:18:12.320
a future that could be, and it's not guaranteed. And I think you look at, and that's ultimately
00:18:17.720
what scares them. You have guys like Sam Altman and sort of other people in technology who will try
00:18:23.240
to paint a picture of almost inevitable tech change in one direction, very transhumanist direction.
00:18:28.560
Fundamentally, we don't have to accept that. We can use technology in a way that complements people,
00:18:36.960
that ultimately uses it to lever goals we want. Fundamentally, the future I want to see
00:18:42.860
is one where human agency remains a central driver of every aspect of life. It's distributed power,
00:18:54.920
by and large, or decentralized power. So it's the opposite of highly centralized tech platforms.
00:19:00.080
And it's the opposite of sort of handing our life over to technology as transhumanists want.
00:19:04.600
And that touches any number of questions. It touches how we live our local life. It touches
00:19:09.660
how we use the internet. It touches what we bet on. And ultimately, I think that's a bet on people.
00:19:15.060
And I think it will pay off. So from a business perspective, it will pay off. But there's no
00:19:19.940
guarantee you get there. There's other paths where you hand more and more.
00:19:22.880
In the algorithmic age, are you just nothing more than a modern Luddite, sir?
00:19:32.100
Not at all. I think that throughout history, you've seen people master technology,
00:19:37.340
and you've seen people hand things over to technology. And you think of, you ultimately
00:19:42.360
look at America. And I think America has thrived as it has, not because it was afraid of technology,
00:19:48.560
but because it built a culture of people who knew how to master technology and how to use
00:19:54.240
technology for their ends. And ultimately, those are the people who are going to produce
00:19:57.940
better innovations and better and more effective companies that use technology as well.
00:20:03.820
So it's not even something we need to fear. It's something we need to master. We need to realize
00:20:09.280
what the purpose is. And we need to ultimately not be—we shouldn't be led along. I look at the
00:20:17.360
TikTok algorithm as sort of the epitome of hand your life over to technology. Social media is no
00:20:23.360
longer even social. It's just sort of determined by what the algorithm recommends next. That's one
00:20:29.040
path you could see. The other path is not one where you throw away your phone. The other path is one
00:20:34.460
where you use your phone to make the connections you want to use to share the content you want to use
00:20:39.320
to ultimately, in many cases, even bring your community closer together.
00:20:43.040
Nate, this is great. I want to spend a lot more time with you. Until then, where do people go to
00:20:50.420
get your writings? Where do people go to find out more? And particularly, where do people find out
00:20:54.200
more about this development you're doing, this community you're building in Appalachia and
00:21:00.360
So, our website has a lot, newfounding.com. You can go there. I've written a few pieces there. We
00:21:06.660
have a piece about the Highland Rim project, which is this development we're doing, chance to get on
00:21:12.220
the wait list, chance to actually inquire about moving there. And then I'm active on X. I'm very
00:21:17.820
active. That's been a platform since the beginning for us. So, those are the two best places to find us.
00:21:33.000
Thank you very much, brother, for coming on. I appreciate you.
00:21:39.100
Write that, write that, and take your number two pencil out and write that down. High agency.
00:21:44.400
Honored to have on again Brigadier General Amir Avivi, retired from the IDF.
00:21:50.140
Sir, President Trump has been, the last 24 hours, has been very much adamant about, he's kind of
00:21:56.740
putting a deadline on the Muslim Brotherhood franchisee, Hamas, about no more games. This
00:22:03.000
thing's got to be fulfilled. We need to see the hostages, dead or alive, but I want to see all of
00:22:07.200
them. Or you're going to have to deal with, essentially deal with the IDF and him. Can you
00:22:12.420
get us up to date on what's the plan, what's actually happening? It's a little confusing here in the
00:22:19.560
Yes. I must say that we wouldn't have seen any hostages coming back, as we saw in the last two
00:22:25.460
months, without President Trump standing strong and sending a clear message to Hamas that the
00:22:32.420
gates of hell will open if they don't release hostages. This helped us release 33 hostages.
00:22:39.320
And now the message is clear. Either continue releasing, bring us back our hostages, or the
00:22:46.340
gates of hell will open. And the IDF is currently preparing for a decisive attack against Hamas.
00:22:54.060
And as President Trump said, the U.S. is equipping the IDF, Israel, with everything we need
00:23:02.300
to move forward and attack in a decisive way that will destroy Hamas as a governmental and military
00:23:10.020
entity, enable us to release the hostages and create a new reality in Gaza, where never again there
00:23:16.140
will be a terror army controlling this area. And of course, this has to do also with the plans that come
00:23:23.220
afterwards of relocating the Gazans to new places.
00:23:30.380
So the question is, you know, particularly people that follow this closely, they're a little
00:23:34.620
surprised the IDF didn't take care of this the first time. Is this because the Biden administration
00:23:39.740
hold you guys back? Was there tactical issues, operational issues? Because people thought that
00:23:46.440
given October 7th, that this thing would be taken care of relatively quickly. Obviously, it hasn't.
00:23:51.840
You guys are planning now for a second sweep, a second incursion. Why did it not happen the first
00:23:58.440
time? Was that Biden administration or was it more related to the IDF?
00:24:03.240
It relates to many issues. One thing is that we had the military leadership that didn't believe in
00:24:10.820
really going and conquering all of Gaza. Another issue was that we knew as we were fighting in Gaza,
00:24:20.420
that we're fighting on seven different fronts and we have to get ready to move the whole army
00:24:25.620
from Gaza to Lebanon and Syria. We needed to keep the troops fresh and not really invest them completely
00:24:34.460
inside Gaza. We knew we had to go to the north. So they decided to concentrate more on raids and
00:24:41.460
degrading Hamas as a military entity. And then after 10 months, we destroyed roughly 70 percent,
00:24:48.860
maybe 80 percent of Hamas. The center of gravity was moved from Gaza to Lebanon. And there we really did a
00:24:58.220
good job. Decisive attack that brought Hezbollah on its knees in a few weeks. And this also brought a
00:25:06.220
collapse in Syria where we destroyed 80, 90 percent of the Syrian army and their capabilities.
00:25:12.700
And now the north is in a completely different reality. And of course, there is also the issue of
00:25:18.300
Biden. Until January 2024, the Biden administration was 100 percent with Israel. And this helped us a lot.
00:25:27.580
But then there was a complete change in the policy. And from that point onwards, the administration
00:25:34.380
tried in every way possible to stop Israel from achieving its goals, looking for a ceasefire,
00:25:42.780
as decreasing the operations and so on. And of course, also stopping munitions. This affected us
00:25:51.500
dramatically. Israeli soldiers paid with their lives because the administration wouldn't give us munitions.
00:25:58.940
This was devastating. It slows us down a lot. And now the reality is completely different,
00:26:05.100
completely different leadership of the army. A new chief of staff determined to win this war.
00:26:12.060
Endless amount of munitions that are coming from the US, but also being produced in Israel. The Israeli
00:26:18.700
industries have grown dramatically throughout the war. The huge support President Trump is giving Israel
00:26:27.980
and the umbrella needed to really move forward in the center troops and win the war. Everything is
00:26:40.060
This is what I think gets me from a surprise. Hezbollah had such a great reputation in light
00:26:44.300
infantry, the Syrian army. You pivoted to the north and absolutely effectively destroyed Hezbollah
00:26:49.980
and destroyed the Syrian army. Yet you seem bogged down in Gaza. Is it because urban warfare you're not
00:26:56.620
prepared for? And I think people think the victories against Hezbollah were pretty shocking. It's really put
00:27:02.140
the Persians on their back foot, sir. Yeah, I think that we were much more prepared for the fight
00:27:09.820
against Hezbollah. The intelligence was very, very good. We saw also the pagers and other capabilities
00:27:14.860
and other capabilities that were developed by the Mossad that completely created awe and shock
00:27:22.220
among Hezbollah troops. In Gaza, the issue of the tunnels, the whole Gaza Strip is dug with tunnels. This
00:27:33.580
created a very, very complex environment for the IDF. I think no army in history has fought in a battlefield
00:27:44.060
similar to the Gaza Strip. It turns out that the Gaza Strip was much more complicated than the north. And
00:27:50.860
also we have to remember that we had our people inside that were captured by Hamas, kidnapped,
00:28:00.460
and there were areas in Gaza we couldn't go into. As long as they are holding Israeli
00:28:07.660
people there, we cannot go in. It will endanger their lives. So this created limitations on the operation.
00:28:16.860
General, just hang on one second. We'll take a short commercial break. Brigadier General Aviv from Israel
00:28:39.580
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What if you had the brightest mind in the war room delivering critical financial research every month?
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00:31:26.460
Okay, just on a programming note, and by the way, we might want to blow the break since we're going to
00:31:31.020
go to and we get Raheem. We're going to go to Raheem Kassam live momentarily at the New York Economic
00:31:35.660
Club. Secretary of Treasury, Scott Besson, as you know, one of our contributors here. Now Secretary of
00:31:41.900
Treasury is going to give a major address at the Q&A also from 12 to 1245. Talk about all the,
00:31:47.980
everything's happening on Capitol Hill. Everything's happening with tariffs. Everything's happening
00:31:52.460
with the American economy. Very important. Raheem is there live. I'm going to go to him
00:31:57.020
in a moment. General, there's been a lot of discussion about a new chief of staff. Look,
00:32:03.100
when you have a chief of staff that was there before, and he was chief of staff when he took
00:32:07.500
down Hezbollah and took down the Syrian army, that's not too shabby. Why was a change made? Do you
00:32:13.820
know the new chief of staff and why is he the right guy for right now? Since obviously it's going to
00:32:18.220
get a lot more kinetic, it appears, in Israel, sir?
00:32:23.020
Yeah, I've known Ayaz Damir, the new chief of staff for the last 20 years. He comes from the
00:32:29.340
Armored Forces. He's a guy who really, really understands big wars, ground forces. Really,
00:32:37.900
the fact that a war is the realm of uncertainty. He's a brave officer. He talks clearly about victory,
00:32:47.260
about a need to win decisively, about the need to destroy our enemies and really win.
00:32:55.740
Therefore, he's the right guy. I think he's going to do a great job. I'm looking forward to see how
00:33:01.980
he commands the war in Gaza and also in other fronts. We have to remember we have Iran. We have
00:33:09.020
to deal with Iran and the nuclear program. It's a huge challenge ahead of us. It's not only about
00:33:15.500
Gaza. We have to continue to secure the northern borders and also deal with Judea and Samaria with
00:33:21.660
many terrorists that attack from the Palestinian cities in this area. He has many challenges and
00:33:29.260
he's the right guy at the right moment. Do you believe you have the political support
00:33:35.820
from Tel Aviv, from the current government? I mean, President Trump is basically all in. He's
00:33:41.980
given Hamas a deadline and he says he'll unleash hell if they haven't complied with that. Do you
00:33:47.820
think you have the support of the Israeli government, a hundred percent? He has the support a hundred
00:33:54.140
percent of the government, of the people. Netanyahu three times tried to appoint him as chief of staff,
00:34:01.020
knowing that he is the right guy for the job. And now it happened. He's very much liked by the society
00:34:10.380
and the government as well. And now it's up to him to show that we chose well and to do the job.
00:34:18.140
And I think he understands. I spoke with him a week ago and said to him, you know, all the people of Israel
00:34:25.340
are looking up to you and they want one thing, total victory, nothing less. He said, Amir, I know.
00:34:32.540
I know exactly what is needed to do and I'm going to get the job done. And I trust he will.
00:34:41.420
Brigadier General Amir Avivi, thank you so much. Do you have social media? Can people follow you
00:34:46.060
here in the United States, in Israel? Yes, definitely. Our website is idsf.org.il.
00:34:52.620
And we do, by the way, four times a week, a daily briefing, really updating people exactly what's
00:35:00.540
going on on all fronts and where this is going. And we're very much into the details, working with
00:35:07.020
the government and the army and tens of thousands of people follow. And I invite everybody to follow
00:35:13.500
our briefings and also our content in the website. Perfect. We'll make sure we start streaming that.
00:35:20.940
General, thank you so much for joining us today. Appreciate you. Thank you very much.
00:35:27.820
President Trump, uh, if you know him, this is one that's, uh, he, you know, as I tell you,
00:35:34.380
is one of his game is one of his best things is no games. I think he feels that Hamas tried to play
00:35:41.100
some games with him when he really, I think he and Steve Whitcoff did a deal that a lot of people were
00:35:46.460
not totally excited about, but they did it to try to just like in Ukraine. I mean,
00:35:51.580
President Trump's, you know, not going to satisfy everybody. He's bringing so many different parties
00:35:57.340
together and so many of these different strategic relationships. Uh, and, uh, those that support him
00:36:04.220
understand why he's doing this, but this one right here, I think could be a big one. And I think we want
00:36:09.580
to get ahead of it. This new chief of staff is a guy, uh, I don't think you mess around with.
00:36:14.940
And as you know, Bridge Colby, I think is going to get, uh, confirmed. Uh, we're very much, and we
00:36:19.580
said yesterday with the, uh, this leaked story that the Russians, uh, working with the American,
00:36:26.300
I think it was Whitcoff and his team in Riyadh planning on these meetings on this Russian rapprochement
00:36:32.700
talked about actually getting to the Persians and getting a diplomatic relationship because the
00:36:38.140
last thing on earth anybody wants is any type of military situation there, because then it's just
00:36:43.500
going to spread to a whole fiasco like, uh, like you have in Ukraine. And president Trump is working
00:36:49.020
nonstop to do that as president Trump is working nonstop to deport 10 million illegal aliens in the
00:36:55.180
country. And president Trump is working nonstop to try to sort this economy. Uh, the weight of the
00:37:00.060
the world's on his shoulders. You wouldn't have known that the other day when he went to the,
00:37:04.380
to the house. And I got to tell you, I do think it's one of the greatest speeches ever given.
00:37:08.460
The more you watch it, that his total command of the facts, his total command presence
00:37:14.540
and the demonic response of the Democrats. That's why. And then yesterday, I thought it was so
00:37:20.780
great that DJ Daniels gets stopped by, you know, our little tent there on the, by pebble beach,
00:37:26.700
uh, and see, uh, and see Natalie, uh, given his star turn the night before and his star turn
00:37:32.540
really what just not as dead, hugging him and everything was said and become an honorary
00:37:36.460
member of the secret service. It was one of the West point. Uh, you're going to let me know when
00:37:40.940
Raheem's there. It's one of the wet got young man, uh, was accepted into West point. And the
00:37:45.660
president Trump told him right there, cause Hey, having Mo go to West point, it ain't easy to get in
00:37:49.900
and the parents or the kids are kind of on tenter hook. So to do that live was amazing.
00:37:53.740
Who's the first guy to congratulate DJ came from behind and did that high five. And when he did
00:37:59.580
that, I said, that kid is the real deal. That young man gets it. So, uh, and to have Nicole
00:38:04.860
Wallace and these people just hating on him and, and Debbie Dingell and those kind of freak show
00:38:10.380
congressmen give him stink eye the entire time. It's, it's just, it's outrageous, but president
00:38:16.700
Trump's got to make hard calls. This, let's go back to this budget. I'll have more on this later.
00:38:20.860
People are working nonstop. We do want to see the doge right now. It's going to come down
00:38:25.980
to one of two things. And what president Trump wants is impoundments. He wants to have after
00:38:33.500
it's done, he's gonna come back with a series of doge cuts. And I think other cuts, I think
00:38:39.020
programmatic cuts between now and the end of the year for this fiscal year, 25. And he's going to say,
00:38:45.580
I'm going to impound that money. It's my, it's my right. In fact, it's my duty under the second,
00:38:51.980
uh, uh, under the second amendment to the article two of the constitution. It's my right to do that.
00:38:57.900
And my duty to do that as chief executive of this government, that is going to go to the Supreme
00:39:02.300
Court. I am a lot less confident of that today, uh, than I was a couple of weeks ago. And I wasn't
00:39:09.580
all that confident then not a hundred percent, not like Russ and some other people think this
00:39:13.420
thing's a slam dunk. I just, cause I think Roberts and Amy Coney Barrett, you know, don't get it.
00:39:19.100
They're, they're afraid. They're, they're afraid. Um, do we have, uh, we have Raheem. Okay, fine.
00:39:26.380
Um, so we don't have to break the Raheem trying to get set up right now. See Raheem at the New York
00:39:31.340
economic club. We're producing your directing kind of simultaneously here. Raheem's on site.
00:39:35.820
Anyway, I'll get back to this. So it's rescissions versus and rescissions takes another vote,
00:39:41.180
go back up. You know, Elon kind of agreed to it, but he admitted he didn't know much about what it
00:39:45.580
was. Lindsey Graham and those guys said, and Lindsey Graham's quote was that he was losing
00:39:49.500
altitude. I think we'd look in the internal, internal polling. They are losing some altitude,
00:39:54.140
uh, among voters who were kind of up in the air about really what's going on with Doge.
00:39:59.260
And he says, you got to do these rescission packages. Rand Paul said it could be up to 500
00:40:03.420
billion of being tranches of a hundred billion. And you know, Elon said, okay, that's not a firm
00:40:08.700
commitment. He says, Hey, that sounds good. I didn't know about it. It's either impoundments
00:40:12.540
or rescission. It's gotta be one of the other, but number, I keep telling you, you have to give
00:40:16.140
a range. You just can't walk into this blind because, Hey, if you do this and then there's
00:40:22.060
none, people are going to be furious. They're going to go, hang on for a second. We agreed to Biden's
00:40:26.300
number two trillion dollars and there were no cuts and no rather, whether the methodology uses
00:40:31.740
or rescissions or whether it's impoundments, they had no cuts this year. That's not going
00:40:36.140
to wash with folks. It's not going to wash with this audience. If you back the president's play
00:40:40.620
and then later you find a fine, uh, that, Hey, we really couldn't get it. Well, but to get it next
00:40:46.460
time, we're going to get into the appropriation. We've been through that. You guys all were in the
00:40:49.900
appropriations meeting and set through 23. Can we blow? I'm gonna go to Raheem. Can we blow the break?
00:40:55.020
I'm just asking my producing team. Okay. We're going to blow the break. We're going live
00:40:59.420
to the National Pulse founder, editor in chief, uh, Raheem, restaurateur extraordinaire, Raheem
00:41:07.020
Kassam. Raheem, where are you? Put us in the room, sir. Yeah, Steve. Thank you. I feel like Ben
00:41:14.220
Burkwam here holding up my own camera in this room on location. Uh, but we are here at the, uh,
00:41:19.900
at the economic club of New York, actually in the historic, uh, Ziegler ballroom here in midtown
00:41:26.060
Manhattan, where the, um, Ziegfeld ballroom, sorry, where the, uh, treasury secretary, I'm just
00:41:31.740
going to flip this around. He's just about to walk past me here. In fact, uh, Scott Besson has just
00:41:36.300
arrived in the room ahead of, uh, what is going to be, I think a major address here, uh, that really
00:41:41.660
comes full circle for the war room audience. The war room posse will be familiar with, uh, treasury
00:41:48.140
secretary Besson, not least through yourself, Steve, and having introduced him to the audience.
00:41:53.100
And now obviously these are, you know, the moments of extreme importance, especially,
00:41:58.220
you know, I was writing to our national pulse members in my email last night, especially when
00:42:01.900
you look at the economy, the president Trump and his team have inherited, um, it is, you know,
00:42:07.100
all the way from, from egg prices to ongoing, uh, efforts from this, from the Democrats in Congress.
00:42:14.300
But hang on, but hang on, but hang on Raheem, hang on, hang on, hang on, slow down. I don't
00:42:19.900
think we had EJ and Tony on here. This is my point, but I think, and this is where you come in
00:42:24.620
and hopefully you'll start to a secretary of treasury Besson on side and Alexander Priet and
00:42:30.140
Karabas, all the great comps team. I think we've done a terrible job of talking about that. I think EJ
00:42:35.820
and Tony's three minutes on here is the best. What he was handed is a disaster. And I don't think
00:42:41.180
it's been properly positioned because people are coming and talking about egg prices. We're so far
00:42:44.860
away from talking about egg prices. We have major structural problems caused by the Biden regime,
00:42:49.980
and they haven't been addressed yet. Raheem Kassam, your thoughts?
00:42:54.540
No, I think that's absolutely right. I do think that there has to be more of an explanation to
00:42:58.940
people as to why we find ourselves in this position. And as I say, you know, that is the,
00:43:03.340
that is the theme of the email to our members last night. And, and you go, and you go line by line,
00:43:08.860
and you go through it and you think, goodness me, I mean, it couldn't, they couldn't have really
00:43:14.300
the worst situation that they inherited here. So I'm getting in everybody's way here, Steve,
00:43:19.500
but we'll check back with the real America's voice audience after this, but the secretary
00:43:24.220
secretary Besson is about to take the stage in about a minute's time up here. I think real
00:43:28.780
America's voice is going to carry the feed from the speech as well. But I told is, you know,
00:43:33.660
he's going to lay out exactly what we need to be doing to get this economy back on track.
00:43:37.580
Let's see what he has to say. Hang on real quickly. Is Larry Fink,
00:43:42.060
they normally do a Q and a as Larry Fink. Who's the president of New York. Is he,
00:43:45.420
is Larry Fink going to do the Q and a? Yes, there will be a Q and a,
00:43:50.460
the speech starts in about a minute's time, uh, followed by Q and a with Larry Tudlow.
00:43:55.260
And then you have a room really full of, you know, I hate this phrase,
00:43:59.020
the movers and shakers in, in finance and economy, uh, from New York city and beyond.
00:44:03.980
Uh, I mean, it's a packed out room here. Uh, I think people are really keen to hear what,
00:44:08.940
uh, treasury secretary Besson has to say, uh, because there are, there are extreme challenges
00:44:15.500
facing this administration financially. And you couple that with the tariff situation,
00:44:19.980
you couple it with the fact that the last administration fakes job numbers across the
00:44:24.620
board, uh, you couple it with the fact that, uh, you have a government run jobs from the Biden
00:44:32.140
era being cut on mass. And of course that creates a problem for, uh, you know, the,
00:44:39.180
the underlying, let's say the fundamentals of the economy, but the fundamentals, as I say,
00:44:46.540
has been bad. They've been faulty. They've been fake. We remember about six months ago,
00:44:50.940
you know, we were told, Oh, we're revising the jobs numbers down a million. If I get to talk to,
00:44:55.980
um, the treasury secretary after this, I'm going to ask him along those lines, how do you deal with
00:45:00.700
the fact that the last four years have been, have been phony, have been fake, have been fordulent.
00:45:06.060
And how do you get back on a more solid footing? We'll, we'll see.
00:45:11.180
I'll, I'll let you go, but also asking the reason they, they redid the numbers for inflation in the
00:45:15.340
fourth quarter, the Biden numbers, there's not 2.2, it's 4.2%. That's huge. Uh, Rahim Ghassam,
00:45:20.300
we'll check with you afterwards. We are going to be real American. Thank you, brother. Uh,
00:45:24.940
national pulse, make sure you make it part of your, uh, media diet. Um, the, um, we are going to stream,
00:45:32.540
I think it's going to start at noon. If it's not, we're going to cut right to the,
00:45:36.140
right to the New York economic club. Look, they had these economic clubs all over the country,
00:45:41.260
very powerful economic club. Detroit economic club has always been known about going there and
00:45:45.660
talking about manufacturing the industrial base of the country. I think that the economic club of
00:45:49.580
Chicago, New York is one, the financial capital of the world, the global financial capital,
00:45:54.700
very prestigious secretary of treasury, Scott Besant is going to be there. He's going to give some
00:46:01.020
remarks and then he'll do a Q and a, I think with Larry Kudlow, Larry Fink, I think is the head of
00:46:07.340
the club. When president Trump went back in the 16 campaign and I believe he then went in the first
00:46:13.660
year in 17, he was interviewed by Larry Fink, uh, Larry Fink. Now the owner, he bought Hutchinson
00:46:19.820
Wampoa out a, uh, a old, uh, you know, if you ever read, um, uh, the, the books about the trading
00:46:27.340
companies in, uh, in, in Hong Kong, uh, Taipan or Taipei, no, Taipan, Taipan. If you read Taipan,
00:46:34.220
the trading companies, it's really on one of the forerunners to Hutchinson and Wampoa,
00:46:39.020
one of these great trading companies, they controlled the Panama Canal. They actually bought
00:46:42.940
into it, uh, from the Panamanian government that's now been purchased by one of the companies
00:46:47.820
controlled by Larry Fink. So secretary of treasury, uh, and I think the best analysis of the handover
00:46:57.100
of what was given has been EJ and Tony, that two or three minute. And, uh, Grace, maybe we
00:47:01.180
pulled that later, but Cameron, I'll play that in the afternoon show. Um, markets incredibly turbulent.
00:47:09.260
Everybody, every right there, they've got camera crews from every, from BBC, from CNBC, from Bloomberg TV,
00:47:17.180
the world's kind of hanging on every word that comes out of treasury and comes to the White House.
00:47:21.500
President Trump just put a true social that, um, every company that was part of the new NAFTA,
00:47:27.820
so USMCA or something, some fancy new title, but it's really NAFTA too. President Trump's
00:47:32.860
restructuring a NAFTA. Every company that's, that's underneath that will not have the 25%
00:47:38.620
tariffs. So don't, don't go through full, President Trump is not pulling the tariffs off.
00:47:42.780
I think this is a way of a very sophisticated negotiation. One part of the negotiation,
00:47:48.380
the Mexican government better really take to heart. President Trump, let's say this,
00:47:53.740
Pete Heggs does not have 12,000 combat troops or combat logistics troops and striker brigades
00:48:00.620
down on the Mexican border and another 12,000 Mexican Marines on the other side and CIA air assets,
00:48:08.060
reapers, et cetera, doing fire control solutions, uh, into Northern Mexico because they're sealing
00:48:14.940
the border, right? That, that, that part, as Benzman said, initially is done. J.D. Vance,
00:48:19.900
the vice president of the United States said yesterday, border wall completed by 2029,
00:48:24.700
and they'll keep enough assets down there to make sure you don't have folks running across. And the
00:48:29.180
Mexican government has gotten really the joke that, um, that they got to stop people and send them home,
00:48:36.140
and they are doing that or trying to do that. The cartels are the big issues and the deportations
00:48:41.100
of the 10 million. What do you do logistically? So that's going to be a huge deal. The capital
00:48:45.340
market's in total turmoil, right? As president Trump's goes through what these cuts are going to
00:48:50.460
be as president Trump's restructures, what's happening in, uh, Ukraine as a subset,
00:48:56.860
a subset of this Russian rapprochement. What does that mean? That means kind of a getting back
00:49:02.620
together, kind of a, a feeling things out. And that's what it is. I do believe eventually you're
00:49:08.860
going to see a bigger, um, maybe economic, um, I'm not saying partnership, but maybe working together
00:49:15.820
on certain fundamental projects in the energy area and maybe other areas where Russia has tremendous
00:49:21.740
assets and resources. Um, president Trump's also rumored he might go to Moscow in, um, it for, uh,
00:49:28.940
for the victory parade of, uh, the end of world or two, which is always on the ninth. It's on the
00:49:34.380
eighth in Europe. It's on the ninth in, in Russia. I think that's, I think that's correct. Um, he might
00:49:40.300
go there. It's just all rumors right now. There is a team that did meet in Riyadh, uh, to staff to
00:49:45.340
start working together, see how this thing evolves. And despite what you're seeing on, um, MSM, you say,
00:49:51.740
oh, he's a Russian asset. He's a Russian asset. No, he's the exact opposite. He's bringing a shooting
00:49:56.380
war that should have never started. That's left more people dead in London than the beginning of
00:50:00.220
world war two. President Trump's bringing that to an end. He's telling Hamas, Hey, look, I cut a deal
00:50:05.660
with you guys to make sure there's no more killing, but you haven't lived up to the con to the terms of
00:50:10.220
if you haven't, and we, that's why we wanted to have Brigadier General Avivi. They've got a new
00:50:14.220
chief of staff in Israel and these guys are ready to go and look at what they did to Hezbollah.
00:50:19.260
Look what they did in Southern Syria. Uh, what they did to the light infantry of Hezbollah was nothing
00:50:24.700
short of shocking and put the Persians back in their back foot. That's why I think right now
00:50:29.180
that we can actually pivot out of the Middle East if we get some sort of diplomatic solution. And I
00:50:33.980
think president Trump can do that, but the capital markets in turmoil, this is why more than ever you
00:50:39.420
need to, uh, I believe understand the dynamics underneath that, not just for your personal
00:50:45.420
finances and your family's finances, but also understand like when you're going to the ramparts
00:50:51.580
and making the calls that you understand, we want you to understand kind of what all this means.
00:50:56.540
For instance, on this budget right now, there's not a solution. We've made some humbly made some
00:51:01.980
recommendations. Uh, we'll see how that flies. Uh, we don't really have a position now. We're kind of
00:51:07.740
working for working through a position. Uh, as you know, we don't think it's acceptable not to have
00:51:13.660
significant cuts in the 25, this number right here, technically how you get there, uh, has to be
00:51:20.060
thought through. And maybe it is, you have to approve something to then go and do something
00:51:23.340
else. And if that's something else is impoundment that the president wants to do, or the rescissions
00:51:27.020
that the Senate wants to do, that's got to be figured out. But those things, both of them have
00:51:31.820
to deal with significant and dramatic cuts to federal spending. It's not going to go away
00:51:36.460
until federal spending. And people should take that uptick from 2.2 percent inflation in the fourth
00:51:41.900
quarter to 4.2. That should be like a, that should be the, the, the, the warning, um, on the ship
00:51:51.180
when you go into general quarters that, uh, this thing is bad. And I think you're starting to see
00:51:56.060
flow through some of the numbers in the, in the Atlanta fed and others, and it's got to be sorted
00:52:01.180
out. And president Trump's doing all that. Birchgold.com. One thing you do that's quite simple,
00:52:06.460
just take your phone out. Birchgold at 9 8, 9 8, 9 8, excuse me, Bannon. That would be me at 9 8,
00:52:13.740
9 8, 9 8. You get the ultimate guide to investing in gold in the era of Trump. They walked through a
00:52:19.660
bunch of analysis, Philip Patrick and the team. Of course, we've got the end of the dollar empire.
00:52:24.060
One other thing about going to the ramparts, if you, and there's going to be a lot of discussions
00:52:28.940
on upper bracket tax cuts. We're going to get into a lot of analytics about that.
00:52:32.620
Uh, and it talks about the concentration of wealth and why maybe the top 1% or the top 5%
00:52:38.860
or the upper bracket, as we call it may not need a tax cut as much as you need. No tax on tips,
00:52:43.820
no tax on overtime and no tax on social security and no tax on interest on loans where you, um,
00:52:50.380
where you are, um, buying American vehicles, all those great things. Uh, the one contract you have
00:52:57.340
80 or 90% of your net worth is still tied up. If you're an average American in a home,
00:53:01.740
if you're lucky enough to own one, most people are not. If you're lucky enough to own one,
00:53:06.460
that contract, that's like your, that's the moral equivalent of your contract
00:53:10.940
for social security or Medicare, right? You're not going to give it up. You're not going to give
00:53:15.100
it up unless it's stolen now with all the cyber opportunities. But as Natalie Dominguez and the
00:53:19.660
folks at home title show you, there could be people around you. It could be a lawyer. Maybe you ticked
00:53:24.380
off or maybe you're a snarky lawyer, maybe some relative. You don't know so many ways to get into
00:53:29.580
that kind of rickety system of titles throughout the country. They've got triple lock protection.
00:53:35.820
It gives you three things. Number one, 24 seven protection. Number two, an emergency
00:53:41.180
immediate notification. Anybody's messing with your title. And the third is the,
00:53:45.980
and this is why it's triple lock million dollar protection. They have a restoration project.
00:53:49.660
If those, they've, if it hasn't worked up till then, they have a million dollar restoration
00:53:55.180
to give you a million dollars of legal and other to make sure you get the title sorted. So triple lock
00:54:00.860
uh, protection. What you do is go to home title lock, Steve 25. I love that promo code, Steve 25.
00:54:09.420
Go check it out today. Uh, we're going to be, say we're going to cut. So Charlie Kirk's going to
00:54:15.260
follow us, but also we're going to also stream on real America's voice. This very important, um,
00:54:21.660
uh, remarks by secretary of treasury, Scott Besson. You saw him on here for a number of years. You're
00:54:30.060
going to see him now at the economic club in New York, very prestigious talking to the world's
00:54:34.060
business press, the world's financial press is all gathered. Then after me afterwards, Larry Kudlow,
00:54:39.900
a dear friend, Larry and I don't agree on a lot on economics, except for supply side growth.
00:54:45.820
Right. And Larry's a fabulous guy and did a great job as national economic, uh, advisor to the
00:54:52.300
president head of the national economic council. Uh, Larry will be there asking questions. So
00:54:58.140
you're going to have two unreal American voice. We'll have the speech for the New York economic
00:55:02.060
club. You have Charlie Kirk post those after that, Steve Gruber. After that, you got Eric bowling. I
00:55:08.540
now do a hard handoff every day with Eric bowling. I love it. Eric's on fire. Uh, we're going to be
00:55:14.700
back at five o'clock, five to seven. There's so much going on. The toughest thing we have today,
00:55:19.820
ladies and gentlemen, is going through the 20 things we want to cover and get it down to five
00:55:25.020
or six. That kind of days of thunder flood, the zone is actually working against us. Just kidding.
00:55:30.460
So many great things. President Donald John Trump. These are, remember these days, these are days of
00:55:39.100
history and days of excitement and days of just good old fun. You see, you've worked so hard for
00:55:45.260
this. Talk about high agency. Nobody's got higher agency to this audience. We leave you with the
00:55:51.740
right stuff. Book by Tom Wolf movie by Philip Kaufman, a classic, get it and watch it with the
00:55:58.220
kids. Stunning film and fabulous Academy Award winning soundtrack and music. We're going to be back at
00:56:06.700
five. You've got the right stuff and high agency to boot. See you back here at 5 p.m. Eastern Standard
00:56:14.700
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