00:02:08.000And if anything happens, you're notified immediately.
00:02:11.000If all else goes wrong, they put $1 million in a restoration project around that piece of paper that shows you actually own your real asset called your home.
00:02:54.000And certainly Vietnam and the Philippines, I would put at the very top of that list.
00:02:58.000There's no love lost there at all, particularly between the Vietnamese who are actually the last country to have really fought a war with China back in the 1970s at sea where the CCP and at the time the People's Liberation Army Navy showed their lack of sea lift capability.
00:03:13.000But going with the Philippines as well, you've seen these massive trade incursions, the fishing rights, the fishing boats, the water cannons, things that have gone off in these Scarborough Shoal and all these different areas where China has been building these islands and claiming sovereignty over the entire South China Sea to their nine-dash line writ large.
00:03:32.000But really, Steve, when you look past Vietnam and the Philippines, the Vietnam and Philippines, that's our frontline states against China in the South China Sea.
00:03:41.000But a real strategic hub and key of all of this is going to be Singapore because with Singapore, you've got military access, you've got China naval base, and they have the diplomatic influence within ASEAN to reach out to folks like Indonesia or Malaysia because Indonesia and Malaysia have always kind of played the two sides against each other.
00:04:01.000The relations are constantly making deals with China, of course, in terms of this.
00:04:05.620So that's what you've got to be able to do because, look, if China wants to get their goods to market, currently they've got to go through the Straits of Malacca.
00:04:14.800And what's right there is the South China Sea and then Singapore.
00:04:18.840This is, by the way, the reason – ASEAN is the reason that China is so adamant on exploring this northern route.
00:04:26.200So if they can get a polar route, then they don't need the Straits of Malacca, they don't need the Straits of – they don't need the Suez Canal, they don't need the rest of it so they can go over the top.
00:04:35.380But they currently aren't able to, and that's why ASEAN is such an important impediment to them.
00:04:43.940So, Caroline, Ryan, you're there, and the Secretary of Treasury, Scott Besson, the reason markets kind of calmed down, they're a little choppy now, they calmed down actually in positive territories.
00:04:53.000Scott did Maria Bartiroma and others this morning, and he talked about he's in active discussions slash negotiations with the Japanese, with the South Koreans, and the Vietnamese are actually on a plane with their delegation.
00:05:08.400How is that playing with the Chinese Communist Party?
00:05:11.860We're live with you in Kuala Lumpur where the ASEAN conference is going on, ma'am.
00:05:17.420I've been over here for a while. I started – I've been in Taiwan, Vietnam, the Philippines, Thailand, Indonesia, Singapore, and now I just got to Kuala Lumpur.
00:05:29.160And the ASEAN conference is happening here, and actually the chair of ASEAN is Malaysia.
00:05:34.280And so what is really scary, what I've found from all these countries, everything Jack just said is absolutely accurate.
00:05:40.420They love America. They actually – I mean, they're scared about the tariffs for sure, but they are so excited to come to the table and get to do a deal with President Trump.
00:05:49.420What I've been doing over here is meeting with a lot of private business leaders, talking about the huge opportunity that they have right now to come make a grand free trade deal that involves investment in the United States, better relations for them with the United States.
00:06:01.600You should see how excited folks are because they just – China comes into their countries and destroys them.
00:06:07.740They come in and they do – they bribe the officials to be able to take these contracts.
00:06:14.180In Thailand, the building that just collapsed, I noticed that was being built by a Chinese company.
00:06:18.980The earthquake, yes, while it was bad, it was not too bad in Bangkok.
00:06:22.000There is no excuse for a building like that to collapse except for the fact that when you let China come in and run the construction in your country, it's terrible.
00:07:11.940He is going to come there and absolutely drop the hammer on these countries.
00:07:16.060And so I do think right now it is very important that Vietnam's meeting goes well, that these other ASEAN countries have the courage to follow, which they are right now, and that the United States, that we are able to come together in a grand bargaining deal with these folks.
00:07:29.820And we could really realign the world order here.
00:07:32.680Yeah, remember, one of the situations with particularly the Southeast Asian countries, the ASEAN countries, is that it's not just the numerical part of the tariff.
00:07:45.400It's also currency manipulation, counterfeiting, non-trade barriers.
00:07:56.840Xi's actually – because I don't think Xi's ever actually visited these countries.
00:08:00.340You know, the Chinese Communist Party is not beloved in Vietnam, although Vietnam is technically still run by a Communist Party.
00:08:08.380They're not beloved given their ancient history.
00:08:11.260And the rest of Southeast Asia has a big problem with a lot of the overseas Chinese that represent the Chinese Communist Party, as you said, trying to use predatory capitalism to take over.
00:08:22.000So how is that – because I guess Xi's saying don't go to America.
00:08:28.940And, in fact, you should call off any involvement with the Americans.
00:08:35.080Actually, I think what he's doing is he is bracketing – he is going to those countries who have announced that they are sending their delegations over to negotiate with the United States.
00:08:42.920And he's doing that to say send your delegations home right now.
00:08:46.640I'm showing up in your backyard into your country, and you're going to negotiate with me.
00:08:50.600And so I think it is in the U.S. best interest to be taking all the meetings with these ASEAN countries right now, telling their delegations to stay in the United States, stay and negotiate with us.
00:09:01.380There are certainly, you know, some big concerns that the United States has.
00:09:05.160Like, there's been a lot of ways that we – these ASEAN countries can fix different things.
00:09:10.440We brought up currency manipulation, different trade barriers.
00:09:13.300But now we have all the leverage in the United States to do that.
00:09:16.680That's why I think what President Trump is doing is brilliant.
00:09:19.900I think we could not have better negotiators on our side than we do with Peter Navarro, than we do with Scott Bessett, than we do with Howard Lutnick.
00:10:23.600A lot of people are asking me about it.
00:10:24.960I've noticed there's like White Lotus bars.
00:10:26.960But, no, I've been working day and night, meeting with private industry leaders.
00:10:30.760There's so much opportunity here for prosperity in both this region and also in the United States and around the world.
00:10:37.460These free trade deals, these package deals that Trump wants to do country by country, are just an unbelievable opportunity.
00:10:44.560And with Vietnam specifically, April 30th is the 50-year anniversary of the end of the Vietnam War.
00:10:50.300What better way to celebrate that than a grand free trade deal between these two strong countries and having an Oval Office ceremony and also ceremony commemorating the 50-year end of that.
00:11:03.660So it's very timely right now, and I'm so thrilled to see how excited that these Asian countries are to do business with President Donald J. Trump.
00:11:26.900Jack Posobiec, is she going to sit there and let the United States try to work out trade relationships and have these guys actually take care of the currency manipulation,
00:11:40.100all the ways they try to game the system and actually become fair trade partners with the U.S.?
00:11:44.780Is the Chinese Communist Party going to allow that, or is this another front?
00:11:48.060Folks, you understand, this is a global conflict between the Chinese Communist Party and the United States of America,
00:11:53.480from drug labs in Mexico to the Arctic and everywhere in between.
00:11:58.260Is she just going to sit there and let us cut deals?
00:12:03.220The Asian countries remember what the Chinese have done to them.
00:12:07.160They'll be all over trying to partner with the United States to do something.
00:12:10.720Is China going to allow that to happen, sir?
00:12:13.600Well, Steve, they're not going to allow it to happen, but it might not be up to them.
00:12:16.400Look, you know, when it comes down to it, Xi Jinping arriving as a general secretary of the Communist Party, Chairman Xi going to ASEAN, this is monumental.
00:12:25.840This is something that hasn't happened before.
00:12:27.560Typically, the way the Chinese Communist Party talks with ASEAN is by bayonet or water cannon or building these islands up in their grill, up in their backyard,
00:12:41.080and then sending their aircraft carrier out to run flight tests.
00:12:44.300No, this is this is very, very telling that Xi Jinping is going himself, not by a delegation, not Wang Qishan.
00:12:51.860No, he himself is going to be going to there to have this conversation.
00:12:56.680And I wonder, by the way, I also wonder if Russia is going to be sending a delegation as well,
00:13:03.860because now we're really going to start seeing the interplay here.
00:13:08.060Plus, by the way, you've got a lot of other countries in the same region.
00:13:11.920Look, we're talking about some major economies that do business that goes that travels through ASEAN as well.
00:13:16.700We're talking about who? The South Koreans and the Japanese.
00:13:20.560So who did Secretary Besson have dinner last night?
00:13:23.420It was the Japanese ambassador, the Japanese delegation.
00:13:25.880They came over for us. The South Koreans as well. Samsung, we all know about that.
00:13:30.060Their power. Look, these economic deals have put everything, everything on the table as President Trump's economic restructuring of globalism has begun.
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00:16:21.780We're keeping big government out of American markets.
00:16:24.660The Chinese government is the biggest government in the world, and every Chinese industry that's exporting their crap to America is an arm of the Chinese government.
00:16:34.440They're directly subsidized by the Chinese government.
00:17:34.600About 40% with state and federal government?
00:17:37.240Well, I just wonder how you square this circle, where you're saying that, oh, America's industry is offshoring because we have big government.
00:17:44.360And then you've got Germany and Italy, and they have bigger governments in America, France, and their industries are not offshoring.
00:17:50.940And then China's got the biggest government of them all, and they're actually gobbling up our industry.
00:17:55.040So I don't think there's anything to – it has nothing to do with big government.
00:17:58.780And it has everything to do with insane, self-destructive trade policies that are instituted by globalists who are buying their pocket.
00:18:07.720The issue is that America has purchased a net trade deficit of $24 trillion over the last 50 years.
00:18:15.840And that's $24 trillion that could have been used to build American factories, to build American roads, to build American ports, to hire American workers, and to build our families and our communities.
00:19:00.800It means to serve the best interests of the nation and the people.
00:19:04.260And those interests transcend the simply consuming products.
00:19:07.980The interests are to serve – to create beauty and to promote and protect the environment, to preserve a future for the people, not to maximize the current generation's benefits at the expense of our progeny.
00:19:34.140And the way to deliver the highest standard of living is the most amount of economic freedom.
00:19:39.660When we're free to trade with one another, when people of one state are free to trade with people at another state, and people of one country can trade with people in another country.
00:19:48.580Remember, America doesn't trade with China.
00:20:38.560That was quite amazing, and I know it's going to get a lot more views.
00:20:42.200I mean, you got a huge audience last night, but Zero Hedge ought to keep it up and push it hard because that was about as spirited as you could get in two different perspectives.
00:20:51.180Spencer, your assessment, particularly given what's happened overnight, now this is flat-out economic war.
00:20:57.640And folks in this audience understand this.
00:20:59.860That's why you're the bedrock of the MAGA movement.
00:21:02.480The unrestricted warfare of the Chinese Communist Party is now—I mean, the People's War is from 2019, but the unrestricted warfare has been for 20 or 25 years.
00:22:00.880And we share in all of this cultural legacy for thousands of years.
00:22:04.580And it's our duty to pass this on to our progeny.
00:22:08.660And what libertarians are seeking to do is they're seeking to maximize the advantages and the luxuries that they consume in this lifetime.
00:22:16.740And I think we have to remember that we are one link in a chain that's unbroken going back a thousand years, and it will go into the future for a thousand years.
00:22:27.460And we have an obligation and a responsibility to preserve America for the future, and not just America's economy, but also to preserve beauty, architectural beauty, to preserve the ability of the American people to exert rights and freedoms.
00:22:45.020But those rights and freedoms come with the responsibilities of stewardship, stewardship towards, for example, the environment.
00:22:53.320When I brought up in the debate last night that one of the externalized costs of offshoring, one of the reasons it's cheaper to do business in China is because they rape and they loot and they pillage the environment.
00:23:07.120And they pump out all of these toxins into the environment that we end up breathing in and they end up poisoning our water supply.
00:23:13.280And he laughed and he says, well, that's China's problem.
00:23:16.160And I think it just goes to show how amoral the libertarian ideology is.
00:23:51.880And people can't just move because people have, you know, children in school.
00:23:55.820They have grandmothers that they need to take care of.
00:23:57.840I mean, they've done genetic studies, for example, in Europe that show that people have been living in, you know, Italian towns, for example.
00:25:07.540This is the moment, Steve, to act as President Trump is acting.
00:25:12.740It's important to remember it's April 9th.
00:25:15.700It's 160 years ago Lee surrendered at Appomattox, essentially ending the Civil War.
00:25:21.700And Lincoln then was obviously, having gone through that tremendous struggle, right, it reached its end.
00:25:31.000I think we need to remember that date and remember what we went through to defeat really the greatest peril that we faced in the 19th century to recognize that Trump is going through something similar in the 21st century when he's confronting the Chinese Communist Party.
00:25:48.220And Trump very wisely is waging economic war that they started, but that he's enjoined, right, after many, many decades of allowing them to get away with their abuses.
00:26:03.400Trump's enjoined the economic war and is waging it supremely successfully against the Chinese Communist Party.
00:26:13.540You've stressed, as others have, of course, this morning, that there are going to be responses from the Chinese Communist Party.
00:26:21.500That's certainly something that we should anticipate.
00:26:25.300And we should remain vigilant, of course, and resolute, steadfast, really, in that recognition.
00:26:32.020But those responses are going to be ones with which we can deal, right?
00:26:37.140If it's going to be the measures that you've described in terms of active pharmaceutical ingredients, right, these are going to be efforts we're going to have to address.
00:26:47.580Oh, but he's got to – I'm going to put the Wall Street Journal up after a while.
00:27:41.420I need to see some waste, fraud, and abuse, real money.
00:27:45.860The market this morning, the reason that they kind of choked was not simply the overnight war, economic war between China and the United States.
00:27:54.480It's also – they can't really put pen to paper on this tax bill.
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00:35:48.640This is about a realignment of the world economic system.
00:35:52.480Spencer Morrison, you've got to bounce.
00:35:54.540I had a bunch of text messages from the engine room and from others saying last night that was a full MAGA flex, that you represent the MAGA movement magnificently.
00:36:06.700People want to know, Spencer, your closing thoughts and also where they get the book, where they get your writings, your social media, all of it, sir.
00:40:54.640$2 trillion deficits for the last couple of years.
00:40:58.040I think we've flooded the zone with $16 trillion worth of currency for these deficits and just debt we put on the books over the last couple of years.
00:41:09.840The system that we existed in was not sustainable.
00:41:13.120My issue with the Senate, and this is why it's going to take some time after this show for me to break it down, so I don't want to get too ahead of myself.
00:41:30.560Part of this, we have to have an adult conversation.
00:41:32.700And this is why, remember, with all the differences I have with Elon Musk and their legion, I am one of the biggest supporters of Doge.
00:41:39.840And the reason is I do think in the administrative state you need a special forces team that can get in there, particularly on the topic of fraud, waste, fraud, and abuse, right?
00:41:51.140Because there's only two ways to cut the spending.
00:41:53.540You either have to do it programmatically, as I said, over and over again, or you have to find the waste, fraud, and abuse.
00:42:02.000President Trump's just come out again and said, hey, I'm cutting a trillion dollars.
00:42:05.100And when Treznor says that, he means they're talking about on an annual basis.
00:42:09.760The Senate bill, you know, it's only got four bain of cuts, and I realize that's something with the parliamentarian they've got to get across.
00:42:16.120And even the House bill is only like $1.5 trillion over 10 years.
00:42:37.040Whatever Doge founds, it has to be stopped.
00:42:39.540If we need to put impoundments now for money that's in this budget, it has to happen.
00:42:43.720But we need to know what's the reality.
00:42:45.860And secondarily, we need to turn those people over to the FBI and to the Justice Department and prosecutors or the D.C., wherever you want to do it.
00:48:06.380They don't rule with the consent of the Chinese people.
00:48:10.380They're a colonial government that was imposed by the Soviet Union in the wake of World War II.
00:48:17.480But what President Trump is doing expertly is maneuvering them into now a crisis that really is getting to the heart of that regime.
00:48:27.700And now Xi Jinping has only stark choices with which to address the massive problem that he confronts.
00:48:38.380And that is his economy is in free fall.
00:48:40.920He doesn't have a solution to get the economy out of free fall.
00:48:44.640It would only be the U.S. market that could assist him.
00:48:48.080And Trump is denying him that economic market.
00:48:51.240So what Trump is doing is doing his utmost to win this economic war so he doesn't have to fight a kinetic one at some point in time with the Chinese Communist Party.
00:49:04.200But this is going to make it more dangerous than ever.
00:49:07.000This is why Taiwan right now, the Seventh Fleet, ought to be on alert because Xi, he's got a toolbox of weapons used in this trade war and others.
00:49:20.820But they're not above turning to ultra-nationalism and say, hey, the foreign devils are trying to destroy us and we've got to take our province back to Taiwan.
00:49:28.840And Dr. Thayer, where do people go to get your writings, your website, also your social media, because your perspective, I think, now more than ever is needed?
00:50:07.500There are tens of thousands of Chinese nationals here, young fighting age men that were allowed in in the great invasion that have not been shipped back to Venezuela.