00:00:00.000That raises the question about what happens next in Iran, and you mentioned the president last night said that there's more economic pressure coming on Iran.
00:00:07.520I know you're heavily involved in this and executing this. What what can we expect here?
00:00:12.560Yeah, you're going to expect I'll be holding a press conference on Monday to talk about exactly what we're going to do.
00:00:19.240And again, we have asymmetric information, and I'm not sure why oil has popped up on this, because this for now, for now.
00:00:29.820and it is at the president's discretion.
00:00:32.740If we are doing the maximum economic pressure,
00:00:36.100then that means that likely there will not be a large-scale kinetic restart.
00:00:42.260But I would emphasize that is for now.
00:00:49.040You would have seen media reports that large amounts of energy are getting out.
00:00:53.880And I think that we can continue doing that in the southern lane.
00:00:59.820And that, you know, I think oil markets are misinterpreting what this economic pressure means.
00:01:06.620The economic pressure means that we are going to all of our allies,
00:01:10.680and this is going to be the greatest coordinated economic isolation in the history of the world.
00:01:16.560And we are going to them and saying, you are either with us or against us.
00:01:20.800You want this murderous regime to end.
00:01:23.000And if you insist on doing business with them, either transferring money, buying their oil, doing seaborne ship transfers, then the U.S. Treasury and the U.S. government, they will put its full might and force toward enforcing against you.
00:01:42.480So it is time for our allies and the rest of the world to make a decision.
00:01:47.220And we are going to squash the economy of this murderous regime, which that will curtail their ability to project power through their proxies.
00:01:59.120It will mean that they cannot pay the military.0.79
00:02:02.880And we have substantial inflation, both food inflation and ordinary inflation in Iran.
00:02:08.600And, you know, what we have seen, you know, I see lots of reports that said, oh, well, this has never worked.
00:02:15.300It does work because we have a combination.
00:02:54.380He said right there, put a note in your diary that on Monday he's going to give a full press conference and be able to back up exactly what he's going to do.
00:03:04.760but he is now warlord-in-chief. The Department of War has really shifted over to the Treasury
00:03:11.400Department. Scott said right there, we will not have a restart of major kinetic operations
00:03:19.660as we shift into economic war. It's going to be a combination of sanctions and blockade.
00:03:27.240The blockade is that oil, that 10 million barrels of oil is going to date. That is only for our
00:03:31.720quote-unquote allies. That's from Saudi, UAE, Kuwait, and others. There's no Iranian oil going
00:03:39.020out. It's not going to exit. Plus, when he says sanctions, not just screwing down
00:03:44.460on the Persian regime, but secondary sanctions. And this goes to the Europeans, people were
00:03:52.520trading with them, the Chinese Communist Party, the Russians, and particularly, as he mentioned,
00:03:57.440banks and we have to understand that our quote-unquote allies that we're letting their
00:04:02.460oil out because our blockade is uh is letting it out uh particularly in dubai are that's the
00:04:10.300money laundering center this is how the regime gets cash they get through these banks in dubai0.59
00:04:14.900why the muslims are on there yeah i realize it's persian versus arab it's persian versus jew it's
00:04:22.380Persian versus the Turks, it's all of it.
00:04:25.140Persian versus the Arabs in Egypt, all of it.0.90
00:04:28.160But at the end of the day, they will always side with themselves over us.
00:04:32.860So the backhanded way that they're financing this Dubai, Scott Besson is going to stop.
00:04:53.700Let's see, tough guys, what you're going to do.
00:04:56.440Scott Besson, and there's going to be a press conference on Monday to go in more detail.
00:05:00.940I'm sure we'll get more details actually out to us between now and then.
00:05:06.060Now, what we're going to do is we're going to break down Scott's actual interview on CNBC.
00:05:12.560We're going to go to the most important parts that you need to know about, about this emergency that's leading to, hopefully,
00:05:18.420He takes care of the emergency to avoid the crisis, which is his theory of the case.
00:05:22.300But right afterwards, Scott gave a brief gaggle to reporters.
00:05:26.500So let's go ahead and let's go ahead and play that.
00:05:28.580We are trying to bring the market back into equilibrium in a thinly traded market.
00:05:37.040I think, you know, I'm confident that bonds will continue declining.
00:05:41.400We've got a spike in oil prices today that I don't really understand.
00:05:45.740You know, our announcement is for economic action, and I think that the economic action will mean that oil prices will come down sooner.
00:05:56.420Secretary, if you could answer facing the cameras, but the $40 trillion mark that we passed from the national debt, would you comment on that, and how do we reverse that?
00:06:08.680Yeah, look, the $40 trillion is a big number.
00:06:11.820It is smaller when we look at the publicly traded amount because our Social Security funds and other government entities hold a substantial amount.
00:06:22.120And what we're going to do, we're going to have to grow our way out of this.
00:06:25.760And as I talked about at G20 in Asheville, we are going to talk about the U.S. growth strategy and encourage the rest of the world to come along with us.
00:06:35.260We are also, you know, I announced that Director Russ Vogt and I have been tasked with looking at fiscal consolidation.
00:06:45.040I think the numbers have, are not the actual numbers now.
00:06:48.800We've had to do substantial tariff refunds due to the court ruling.
00:06:52.740But with the Section 301 tariffs, I am confident that we will be back to the same level, if not higher, of tariff income for last year.
00:07:03.700And that is most of the increase in the deficit.
00:07:06.800And remember, we did not get here in a day that we were left with a mess.
00:07:12.020The Biden administration had the highest deficit to GDP in history when we weren't at war or weren't in a recession.
00:07:19.820For 2025, we brought it down by more than a percent.
00:07:25.440Mr. Secretary, Target received a $1 billion refund for tariffs.
00:07:40.540What does that say about the size, besides the fact that it was done so quickly and efficiently, the refund?
00:07:46.540What does it say about the amount of Chinese-made goods and foreign-made goods that our retailers are still selling in the United States?
00:07:54.400Yeah, well, what it says is that the Democratic attorney generals who filed a ridiculous lawsuit against this administration wanted the money to go back to the payer of record.
00:11:02.300So talk us through what you are trying to do here by announcing the increased size of the buybacks.
00:11:10.140We're trying to signal that we think that this is a thinly traded area of the market, that we're in August, and there's been a lot of corporate issuance that's influenced the market.
00:11:23.540And we believe that there are many underlying factors that the market is not looking at.
00:11:30.880And, you know, we are going to make a market in these.
00:11:36.000We routinely do buybacks, and we're going to increase the size of the buyback.
00:11:40.840And, you know, Sarah, I would note that it could be more than the $4 billion per issue.
00:11:47.100Yeah, I was going to ask how big this could get.
00:11:51.020If the signal here is that you're not happy with the direction of yields, you know, they've gone back the other way.
00:11:57.300We've erased most of the Treasury rally that you got yesterday with that big surprise.
00:12:01.520So how much more are you willing to do?
00:12:03.720Well, again, we have a big toolkit, so we'll see.
00:12:08.560And part of it is signaling here and to show that we believe that the yields don't reflect the underlying fundamentals.
00:12:16.920This Iran conflict, we will get on the other side of this.
00:12:28.420We believe that the liquidity, especially in the 30-year point, is very poor.
00:12:35.580And we are in the administration, we are announcing probably at the end of this week, beginning of next week,
00:12:44.100an increased focus on fiscal consolidation.
00:12:46.380And, you know, it's the coming from President Trump, Russ Vogt and myself will be examining both on the revenue side and the cost side what we can do.
00:12:58.360Yeah, because that's where I was going to go and where a lot of the analysis has focused, as you know, Mr. Secretary, which is, you know, strong signal from the administration on the buybacks.
00:13:08.780But, you know, the fundamentals are ultimately what is going to prevail here in the bond market.
00:13:13.740And the fundamentals are hard to ignore when it comes to the size of our debt with public debt increasing to now $40 trillion.
00:13:20.500Yeah. I mean, look, Sarah, there's nothing magic about the $40 trillion number.
00:13:28.420So but what we do want to signal is I think that there's been a lot of misinformation in terms of what's going on with the deficit, what's going on with the deficit, the GDP.
00:13:40.760We actually had a fiscal consolidation for the calendar year 2025.
00:13:46.720Hang on. Hang on. I want to get back to that. Just hit that. I want to start at the physical consolidation.
00:13:52.540Okay, fiscal consolidation on both revenue and spending, hello.
00:14:00.560Finally, Russ Vogt and Scott Bessinger are going to be in charge, and now we need to take dramatic action.
00:14:06.060Dramatic action can be taken, and you've got two brothers that will take it.
00:14:11.600Vogt and Bessinger are what I call – they're guys that are no brag, just fact.
00:17:06.240Scott Besson and the team are going to get us out.
00:17:08.180President Trump's already totally obliterated the nuclear program so they can't have a nuclear weapon.
00:17:12.960And after you do the financial steps that Scott Besson is going to take, there's not going to be anything left for them to restart any nuclear program.
00:17:42.860I need you to get your heads around because if fiscal consolidation doesn't work, you're going to go eventually, what Philip Patrick says, to financial repression.
00:17:52.040So we'll make sure that fiscal consolidation, that means dramatic cuts in spending.
00:18:05.100And, hey, we had the revenue increases and tariffs that were not adding to inflation.
00:18:09.660That's been so well documented even by the Washington Post, people that are haters, people that are haters, that that was going to be another, I don't know, trillion dollars in the Treasury to cut the deficit.0.55
00:18:21.600The plan was at first, just remember, between what Elon was supposed to find but didn't with Doge because that was fake and gay, but what Russ Vogt knows he can do on true cuts that can be backed up, coupled with the economic growth of getting to three and a half, four, four and a half percent, which would give you higher revenues just because you're growing faster.
00:24:45.700Remember, always and everywhere, no matter how much you're on top of this and talking about it and want to take change and make fundamental change, if the emergency slips into a crisis, you're going to get the blame.
00:25:03.100This is my whole point to Russ and Scott and everybody, is that look at the left-wing media.
00:25:11.440The Democratic Socialist Party and the Working Family Party together, they believe in unlimited spending and they want to increase taxes on the wealthy, etc.
00:25:20.980And that comes to, I do believe you've got to be very smart about how we get more revenue.
00:25:27.080And I'm a big believer that we have to make capitalists of everybody in this country.
00:25:31.220And one of the ways we have to do that is a very smart allocation of equity capital that is only going to marginally drive additional revenues of the $5.5 trillion we've got.
00:25:42.980So even if you went to, if you added another $500 billion, which the entire corporate tax, all corporate taxes a day are under $500 billion.
00:25:52.860It's down from the high of the year before.
00:25:54.920And Scott talked about that in the big, beautiful bill, the expensing of capital equipment immediately to get people incentivized to not have to pay tax and put capital equipment in to bring back, guess what, high value manufacturing jobs back to the United States.
00:26:11.220you're going to get blamed president trump he says hey i don't want to be the hoover
00:26:17.840and i know scott uh bess and russ vote are two of the smartest guys toughest guys out there
00:26:25.500you see how the left-wing media we got lectured the morning by morning you got lectured by morning
00:26:30.260joe scarborough lectured you on 40 trade and two trillion dollar deficit and up until bill clinton
00:26:35.340There's only one trillion dollars. And what's happened? All are there pushing a big tax and spend agenda to increase taxes, slower economic growth, big spending.
00:26:45.840Now with the interest payments, slower economic growth. They've never cared for this at all.
00:26:49.720The Guardian's headline this morning hit debt, hits 40 trillion dollars.
00:36:46.060The Koran and the Islamic jihadist religion and aspects of it, it's completely Sharia law, completely incompatible with the Constitution.0.99
00:36:58.840So when we are able to explain that to moms, then the first thing they say is, we want to ban Sharia law.1.00
00:37:03.720Sharia law should not be allowed, and they should not be allowed to own property for the purpose of promoting Sharia law.0.86
00:37:11.380So it is taking root, especially in Texas, but because of what's happening in Texas, because of what's been happening in Dearborn, Michigan, because of what's been happening in Cincinnati, moms are paying attention and they're getting their whole family and their communities involved in first informing, educating, and then getting them empowered and mobilized to stand against it.0.87
00:37:32.640what what kind of um frustration what are their observation as much pressure as the moms
00:37:39.500in america have on themselves today with uh you know how it is to put food on the table or pay1.00
00:37:46.280for the medical insurance or just live a normal life and provide for your kids and make sure that
00:37:50.660they're they've they have the formation they need uh to uh to go forward as uh as citizens in this
00:37:57.560republic given all the pressure then you have this on top of them what do you hear from them
00:38:02.300about like places in mckinney where you have a number of conservatives and and particularly
00:38:08.100business you know the kind of corporate republicans or chamber of commerce republicans saying hey
00:38:12.580their money's green and we're all about economic development economic growth what response do you
00:38:17.760hear from the moms about that where many people that should be on our side of the football
00:38:21.900are actually making money off this and saying or turning a blind eye to the issues of sharia to say
00:38:28.640Look, they're checks, cash, and that's what I care about, ma'am.0.99
00:38:34.240Well, you're right about moms having the pulse on the culture.0.98
00:38:37.080And I can tell you that there's a lot of money being made on our children, stealing the hearts and minds of our children, confusing them that they are not who they are, that they need to change their body.
00:38:47.780I mean, there's just a lot of money out there that's being used to dismantle this country through our children.
00:38:52.860And that is the playbook from the Marxists, Mao, Hitler, Stalin, they all use the same thing, go to the children and shape your future. So that's the thing that moms are trying to focus on is, is the heart of who we are. And I'm so glad you brought this up, because the big thing that that moms are starting to realize now is one, they don't understand what America's about.
00:39:15.400If you're under 60 years old, you have no idea what America's about or why it's worth fighting for unless you went to Hillsdale College or you had a good mama.
00:39:22.860And we need to get that story out there because while we're fighting against something, that's short, that's frenzies, you get hired and exhausted, and a lot of times we throw our hands up in the air.
00:39:34.940So we need to fight for something. And that is something that Jon Voight and I realized early this year, with this being our 250th anniversary, if we want to be able to fight against things, then the American people need to understand what it is that we have to fight for so that we know what we don't want because of what we do have.
00:39:51.980And so John Voight and I, our goal was to create something that would re-energize this love of country and revive a spirit of patriotism.
00:40:03.320And so he and I spent the last several months writing and producing a live stage, multimedia stage production called Our American Story.
00:40:12.700And it's 250 years of America's history, the great moments of history in 95 minutes with music and story, because there's nothing that touches a heart more than that.
00:40:24.560So we are launching actually in Texas because of what's happening in Texas. In Dallas, we are holding a red carpet premiere September 17th on Constitution Day to be able to stand against everything that's coming against Texas, because there is an enormous amount of money that's going into Texas from the globalists, the jihadists, the communists to take Texas.
00:40:49.440and I found the whole entire Democrat party playbook in Harris County, Texas in 2009. And
00:40:56.680at the very top, it said Texas 2020, because the whole entire goal was to take Texas. And,
00:41:02.380but for the grace of God and Donald Trump, they would have. So we are that close to losing Texas.
00:41:07.180And Steve, if we lose Texas, we lose America. There's, there's nothing that no election,
00:41:13.060no presidential election, no, no, nothing that's happening in Congress. No, no battle against the
00:41:18.000things that we're fighting against in our homes our communities in our states it's going to matter
00:41:21.420if we lose we move yeah we move the show down there for three months for the
00:41:26.600prop 10 and we're going to move the show back down there as we get around the uh the convention or
00:41:32.480the rally whatever's taking place early september we're going to be there so we will be there
00:41:35.540i want to go back through this quickly got a couple minutes because john voight's the best
00:41:39.900you and john voight did what and it's going to premiere on september 17th how can people
00:41:44.720participate what is it exactly yeah so it's a live multimedia stage production um kelsey grammar
00:41:52.480gary sinise kirk cameron john voight all have specially produced video presentations within it
00:41:57.820it's um really the story of america and it starts with the mayflower and it goes through the greatest
00:42:04.440generation and the last epic is our generation that the greatest generation isn't behind us
00:42:09.500it's before us and it's what we leave pass on and share with our children that's going to determine
00:42:13.620whether or not we have another 250 years so the red carpet premiere is in dallas texas at south
00:42:18.920fork ranch where dallas was filmed and it is september 17th constitution day and if you want
00:42:24.280to learn more um the direct website is our american story.com slash premiere our american
00:42:31.500story.com slash premiere after the premiere is this going to be available to go around the
00:42:38.640country? Is Moms for America going to think about that after the premiere? Yep, that was the goal
00:42:44.520all along. So we've got two things going on. One is the script and all the elements can be licensed
00:42:50.060to script at no charge to schools, communities across the country where they can perform it
00:42:55.060themselves. We are also at this event, we're going to be video recording it for live television
00:43:01.380so that we can put it online at Netflix or something like that where people can see it.
00:43:06.340And we're also taking it on the road through the US 250 tour.
00:46:49.460slash Bannon. You've got to do your due diligence to get all the information, but you also have
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00:46:58.740insurance. But if it's appropriate for you, you could get great coverage and maybe even better
00:47:04.060coverage and save a ton of money. And today, in today's environment, you need that. Freedom
00:47:09.420Freedom for health dot org slash Bannon. Now they throw in 30 days free if you join, but that's not the reason for doing this. This is a fundamental shift away from traditional health insurance. Check it out today. America's health share freedom for health dot org. Check it out today.
00:47:25.460uh kimberly one more time can you give all the coordinates for everything that you guys are up
00:47:31.040to and i want to make sure bansharia.com totally free go there right now they got these videos
00:47:36.200films information all of it about the fight all over the country particularly in texas
00:47:41.060uh kimberly where do people go for all the coordinates you just talked about about this
00:47:45.440great event you're going to have september 17th and beyond in the united states yeah so it's uh
00:47:52.640But our250story.com slash premiere is where you can get the direct link for the event.
00:47:59.460But if you just go to our250story.com, all the information is there on how to license the script free, how to hold it in your own community.
00:48:08.280We provide the resources and support for you to be able to do that or how to bring it to your community through the U.S. 250 tour.
00:53:10.120Conservatives get comfortable, and the left starts taking background inch by inch.
00:53:15.040We cannot let that happen in these midterms.
00:53:18.460America needs every one of us in the fight,
00:53:20.720and a big part of that means supporting companies that actually stand for our values.
00:53:25.220That's why I'm proud to partner with Patriot Mobile. Patriot Mobile gives you premium priority nationwide service on any of the three major U.S. networks, so you get the coverage you need, plus unlimited data plans, mobile hotspots, international roaming, and 100% U.S.-based customer support.