On today's show, we have a special guest, former Vice President Joe Biden. We talk about his new book, his time at the White House, and why he doesn't wear a jacket like President Trump. We also talk about how he bought a Tesla for White House staff to use, and what he's up to now.
00:00:01.000Well, if you think of it like if Ticketmaster sells a ticket, if you buy a ticket and go to a show, you're in a lot of ways their worst customer.
00:00:09.340They make another 17-whatever percentage every time that ticket resells, so they don't want to enforce the BOTS Act necessarily, because they're making more money off it.
00:00:16.740The artists don't see any of that money, but that's not what I'm advocating for, is for me to make more money.
00:00:21.200I want the fans to have fair ticket prices, to be able to go and enjoy more shows.
00:00:24.940I know people that can only, they decide on a family vacation or going to their favorite concert once a year, rather than, you know, my parents used to go see multiple shows when you could afford them back in their day.
00:00:33.640And I'd like to take my ticket prices lower, but if I set my ticket prices low, these BOTS immediately eat them up, and they resell for hundreds of dollars more, and I'm just making these bad actors rich.
00:00:43.840Well, I think this is a big step to getting it stuck.
00:00:49.620I actually feel that the consumer is going to take the money that they've saved and actually buy merch, which you guys have a big percentage of, or do concessions, which you guys split with the venue on that as well.
00:01:25.220I was talking to Jacoby with Papa Roach earlier, and by the way, he's a big fan of what you're doing, President Trump, digging into this whole scalping and the BOTS.
00:01:34.760A lot of musicians, and you can say that, they're with Kid Rock, sir, on this, without a doubt.
00:02:05.020I did buy one, and I let the staff use it.
00:02:07.040We have it parked conveniently, and one day we give it to Margo, one day we give it to Chamberlain, give it to Natalie, we give it to everybody around, give it to Dan Scavino, but he's got so much money it doesn't matter.
00:02:20.360But they love the car, and it's a great car, and it's made here, it's made in the country.
00:02:27.100It's got a tremendous plant now in Texas, and he has one in California, does a lot of his work here, and he's been really unfairly treated, in my opinion.
00:02:37.120And there's this other story, I know it's hypothetical right now, but if you were allowed, for some reason, to run for a third term, is there a thought that the Democrats could try to run Barack Obama against you?
00:03:33.920And other countries are understanding it because they've been ripping us for 50 years longer, but they've been ripping us off for years right from the beginning.
00:03:43.720And I think this is going to be an amazing, you know, I call it a lot of different names, but it's really, in a sense, it's a rebirth of a country.
00:03:53.640Because how we could have afforded to do what we did, we help everybody, and they don't help us.
00:04:01.100I really, the term I like best probably is the liberation of America.
00:04:04.960It's the liberation of this country because it's incredible.
00:04:09.420Look, we have $36 trillion in debt for a reason, and that accumulates over a long period of time.
00:04:14.660And so I think what you're going to be seeing over the next couple of days will be very inspiring to a lot of people.
00:04:21.340You know, they had a lot of auto plants being built in a certain country.
00:04:25.980I don't want to mention the country because we get along great with the country, but those plants aren't being built there anymore.
00:04:30.760They gave them up today and yesterday, the day before, and they're building them all now in the United States.
00:04:37.280And we have many examples, not only auto plants, chip companies from Taiwan are coming in.
00:09:40.360They're making it impossible for people to build cars.
00:09:44.100So we're going to be doing much different.
00:09:45.8402020 is a strong standard, but they've taken it to a level now that, you know, makes it very difficult to build a car.
00:09:53.200So we're going to be—we're going to be bringing it back to a standard that is a very good environmental standard, but it makes it possible to build it.
00:10:03.860Have you heard any concerns from the automakers, though, about the tariffs on parts that will go into effect over the coming weeks, about what that's going to mean for the price of—
00:10:10.840Well, I gave them a big break for a month.
00:10:12.660I didn't charge them anything, you know, for a big month, for that first month.
00:10:15.920And they brought a lot of material into this country because they could bring it in without tariff.
00:10:21.140If you look at Canada and Mexico, they were driving hundreds of thousands of cars into the market because they avoid the tariffs by doing it before the tariffs go on, which would be Wednesday.
00:10:32.260And I looked at the—I saw in some of your shows where cars are lined up for miles and miles.
00:10:40.300Some of them didn't have fenders on them.
00:10:42.080Some of them didn't have the roof on yet.
00:31:33.460And if you remember, last time I went to Saudi Arabia, I put him first on the list because they agreed to buy $450 billion worth of American goods, military and otherwise.
00:32:26.700And they've agreed to spend close to a trillion dollars of money in our American companies, which to me means jobs.
00:32:34.720So they're going to spend hundreds of billions of dollars giving them to American companies that are going to be making equipment for Saudi Arabia and other places in the Middle East.
00:33:19.120We sold and we partook in $450 billion worth of investment into American companies.
00:33:27.860And they announced the company, the amount of money, $1 billion, $5 billion, $25 billion.
00:33:33.460And the chairman of the company, many of whom, you know, are well-known figures, prestigious figures, great business leaders, they went up, they shook the hand of somebody, and they would sit down.
00:33:46.760And we just had a big investment made.
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00:38:43.480He's our wise man, a former CIA, Pentagon, and White House advisor with an unmatched grasp of geopolitics and capital markets.
00:38:51.720Jim predicted Trump's Electoral College victory exactly 312 to 226, down to the actual number itself.
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00:39:26.940This is Jim's flagship financial newsletter, Strategic Intelligence.
00:40:33.540We played a clip of it at the beginning of the show.
00:40:36.640Peter Navarro, Dr. Navarro, who's one of the architects of this, along with Scott Besson, Howard Blutnik, and others.
00:40:44.160Brother Greer over at the trade office is now replacing Bob Lighthizer.
00:40:51.320Peter's going through a rational walkthrough of what tariffs are, how they're bringing jobs back.
00:40:56.460You heard President Trump right there time and time again refer back to the amount of massive capital investment by companies.
00:41:03.820Not private equity funds, not hedge funds, not venture capital funds, not sovereign wealth funds.
00:41:09.720I mean major industrial companies investing tens, if not hundreds of billions of dollars on plant and equipment here in the United States.
00:41:18.400And Shannon Breen, and I like Shannon a lot, if you ever get to know her, she's a very, very nice person, very straightforward.
00:41:24.280Man, oh, man, the Murdoch's had a trap, and she sits there and gets all kind of uppity and, boom, hits him with, well, look at the polling here with the American people.
00:41:32.720The American people has not been explained to them, Shannon, because Fox News, owned by the Murdochs, neoliberal neocons, and, of course, the progressive nutcases over at MSNBC and CNN continue to harp on facts that just don't happen to be true.
00:42:05.920We're a massive market for them, but we just provide very few finished goods.
00:42:11.300What they call the value chain, a value-added kind of labor and production, technology, productivity, and that value chain, we don't send a lot.
00:42:20.640Most of it's just essentially raw materials.
00:42:33.820You go into any town, particularly in kind of rural America, with the biggest things, the university or the health care system or the jail system or the county administration, where are the jobs of actually producing high-end manufactured goods?
00:42:57.160It's the long con, and that long con, I had in the interim today between the morning show and the afternoon show, I had some very smart people on a call, and they said, hey, they don't see Congress ever having the guts or the courage to actually face voters and have to tell them, hey, we can't afford to do this anymore.
00:43:25.780He says, you're dreaming about a courage that doesn't exist.
00:43:29.180I said, well, listen, they're not going to have to have courage when you have a failed treasury auction.
00:43:33.200This is what Ray Dahlia said the other day.
00:43:37.140One of those two realities is just going to be it's going to create an absolute financial crisis.
00:43:41.980You're going to have to react immediately, and you're not going to like the choices you make.
00:43:46.200One thing I did leave out from earlier when we talk about finished goods, even in generic medicines, and China looks at all of this of controlling the supply chains as strategic.
00:43:58.700If anything has ever come up, remember, they used to own a trillion dollars of our debt.
00:44:05.920Of course, they've infiltrated many, many institutions in our country, but they think they actually have leverage over us.
00:44:10.780If we have military leverage, they think because the chip plants in Taiwan are right there, they have leverage there.
00:44:17.120They think they have a lot of leverage on us on doing what they want to do throughout the Eurasian landmass as they rise to become a hegemon in East Asia, then a hegemon on the Eurasian landmass, and then a hegemon throughout the world directly in conflict with the United States of America.
00:44:32.460Jace Medical, that's why being a War Room Posse member, you're going to be an active part of this.
00:44:43.160When we contact senators or congressmen and you guys get on top of things, things change.
00:44:48.440Pete Hexas gets to be Secretary of Defense.
00:44:53.040President Trump gets to be President of the United States.
00:44:54.800When you put your shoulder to the wheel, like tomorrow, if we're to win, and particularly in Florida 6, Florida 1, I think Jimmy Petronas, and we had a little trouble technically getting Jimmy up earlier, but Jimmy Petronas is going to win.
00:45:08.440He's not going to win at the gap, at the spread that Matt Gaetz had.
00:45:11.520Trump's not at the top of the ticket, but I think from all of our indications and what we're tracking in Florida 1, he should win.
00:45:19.160And Florida 6 is going to be much tighter.
00:47:47.300They're looking for kind of arguments tomorrow.
00:47:50.880But I believe, and I think one of the reporters mentioned it, I think that President Trump –
00:47:56.600and I'm looking to my producer, I think he – I think they deported 17 Venezuelans back to Venezuela last night on a military aircraft.
00:48:04.780Some people, I think, might argue that violates the judge's stay or temporary restraining order.
00:48:11.440That will all get fought out in the courts in the next couple of days.
00:48:13.560As I have told people time and again, I think President Trump is prepared to engage in his chief executive, and he doesn't agree with it, and he's going through the courts, being the chief law enforcement officer of the country, chief magistrate, which is another aspect of the unified executive theory.
00:48:29.640I don't believe President Trump, if he deems it in the country's national security interest as the commander-in-chief, I'm not so sure he is going to allow a district court judge or maybe even an appellate court judge to interfere or intervene in that.
00:48:50.940I think he deems – I think he deems that his role as a commander-in-chief – yes, we have Scott Pressel.
00:48:56.340We're going to get – yeah, Pressel just left.
00:48:58.900In fact, Pressel was down in Milwaukee doing an event.
00:49:03.680I think Scott's going to tell you you're going to have to go to the ramparts tomorrow.
00:49:06.440This thing in Wisconsin is very, very important.
00:49:09.280And these Supreme Court, as you know, from North Carolina to Louisiana, when it comes to these redistricting, these are huge fights.
00:49:20.300You've participated in some of the biggest we've had the last couple of years.
00:49:22.820I would respectfully submit I think we hold the House of Representatives because this audience put their shoulder to the wheel in places like Missouri, in places like Tennessee, in places like Florida, in places like North Carolina, just to throw out some random examples of where the folks down there needed some support in Louisiana to make sure that these districts were redrawn.
00:49:44.400I think in Alabama – remember, it was a couple of years ago, DeGrasse led this effort to get the Warren Posse involved, and it showed that, you know, what needed to be done.
00:50:36.940I don't think we had it cut quickly enough.
00:50:38.980We'll play it again tomorrow in case we got it.
00:50:40.400But he got – he had so many great jewels in that of things he's talking about as we're on the eve of these huge elections tomorrow, two in Florida, one in Wisconsin, and then the next day the rollout of the biggest geoeconomic retorquing or resetting in the – since World War II.
00:50:58.820When you talk about the post-war international rules-based order, this is a order that's been based upon essentially a free and open market to the United States and the allowing of the free flow of labor.
00:51:13.100And that means that capital has basically taken the high-value manufacturing jobs in the United States and has shipped them overseas, whether through NAFTA to Mexico or whether they did it in the decades of the 90s or early 2000s to China.
00:51:26.360Now, Shali Kumar comes on and talks about between 1998 and 2005, I think in Illinois alone, there was something over a million – I think it was 5,000 factories and something like 500,000 to a million jobs.
00:51:42.580High-value light manufacturing jobs were shipped over to China.
00:51:46.680And Shali Kumar is someone who is adamantly about not just tariffs but sustainable tariffs.
00:51:51.760He says, hey, the tariffs don't have to be large, but they have to be sustainable.
00:51:55.520In other words, you can't be in and out.
00:52:56.980And you didn't need huge universities doing massive research.
00:52:59.580You didn't need to put tons of, you know, hundreds of millions of dollars, billions of dollars into these universities to let them become basically citadels of the woke and to lord it over you as you get some R&D.
00:53:10.860There's no doubt you get some, you know, advanced research and you get some applied research or basic research and applied research.
00:53:17.500But back in the old days and even up to the 1950s and 60s, you had companies, you had people who were engineers.
00:53:24.960A lot of people were not even going to college but had that kind of ability to think through the manufacturing process, to think through innovation and create tremendous value.
00:53:33.560We're going to need you up on the ramparts tomorrow, either on Bill Blaster or somebody go to the local apps.
00:53:40.840Scott, we're going to try to track Scott Pressler.
00:53:42.600Scott Pressler is, I had a long talk with him before the show today.
00:53:45.840Scott has been bouncing around event to event to event.
00:53:48.380There's been, I think, a freeze situation up in north central Wisconsin.
00:53:53.820They're not sure they actually could get the final day of voting in, which I think was Saturday, that they, or it might have been Friday in Wisconsin.
00:54:04.560But they want to make sure that people know that they should talk to their local election officials, particularly tomorrow, to get the vote out.
00:54:11.260If they can't get the vote out, let people know early so that things could be filed because this is going to come down to every vote counts.
00:54:16.540The polling from Trafalgar, Trafalgar guys have been pretty accurate, has the Republican candidate for the Supreme Court down by two, maybe a little even over two.
00:54:27.540So it's all going to be about turnout tomorrow.
00:54:29.400Trafalgar's had a pretty good reputation of doing that.
00:54:32.500Other people around Wisconsin said, hey, maybe I'm down a little bit more, but it all comes down to the game day vote.
00:54:37.860Although I think it's been kind of a record number of turnouts anyway in the early vote.
00:54:42.980So make sure tomorrow it's going to be Wisconsin is going to be very, very important.
00:54:47.960Also in the economy, let's go back to gold for a second and the geostrategic reset and what we're talking about, the budget.
00:54:55.240Right now, up on Capitol Hill, there's so much going on.
00:54:58.740We really haven't had a chance to cover a lot of it, but they're working through legislation.
00:55:03.100They're working through this massive legislation package.
00:55:05.540President Trump calls it my one big, beautiful bill.
00:55:13.680It's going to have the money for deportation.
00:55:16.920Some of these numbers are going to shock you, particularly the fact you say, hey, look, we already spend over $6.5 trillion to $7 trillion.
00:55:56.440This was one of the reasons we're a huge proponent of the extension of the tax cuts.
00:56:03.180The extension of the tax cuts should not go for the upper bracket.
00:56:05.960In fact, you should take that and roughly President Trump's tax cuts were about $4 trillion added to deficits of revenue that essentially didn't come in.
00:56:20.320So the assumption is you're going to generate some economic growth here.
00:56:24.120My point is that with so much debt hanging over you and so much interest payment, so much crowding out of this debt, the rest of the capital markets, it's tough to get your traction.
00:56:33.140They're talking about a concept called stagflation.
00:56:36.700Remember, we've discussed that over the last couple of years.
00:56:39.240That's both stagnant growth and inflation.
00:56:42.380So it's not a recession, but it's low growth plus inflation.
00:56:45.720So you kind of get the double whammy, the worst of both worlds.
00:56:49.540The way you get out of that is you have to have growth.
00:56:52.080One thing you have to do, and this is what the current, I think at least some people are seriously looking at this in the White House is to, of the $4 trillion, and I'm just kind of rounding here,
00:57:02.140where essentially $2.6 trillion goes for people filing, I think, joint $450 and below.
00:57:08.640There's another couple of hundred billion dollars for the S-Corps and for entrepreneurs, the pass-throughs.
00:57:15.240So that essentially leaves a trillion dollars out there.
00:57:17.200I think they're talking about that would not be extended, that that actually, if it's not extended, consider it a tax increase.
00:57:24.320The lower tax rates are, you get rid of those, it goes back to the original, and so that would be a tax increase.
00:57:31.140And in that, you would also get, you'd have to be able to pay for no tax on tips, no tax on overtime, no tax on bonuses.
00:57:39.540I'm not sure all those last two are definitely in there, but I know they're being discussed, the number's being run.
00:57:44.220And then the big one that's supposed to be in there is no tax on Social Security.
00:57:48.520So that is all coming on the tax side, and somehow you're going to have to make up the revenues.
00:57:56.380That revenue comes from President Trump saying, hey, the tariffs, Peter Navarro says $100 billion is coming in for the tariffs,
00:58:05.960just on the 25% of tariffs of automobiles not manufactured, not assembled, not manufactured.
00:58:12.860A lot of that's going to come from the German automakers, I think they make very few of their automobiles here in the United States.
00:58:20.080So a lot of it will come from the Germans.
00:58:21.980That's $100 billion right there before you get to the reciprocal taxes, the reciprocal tariffs, excuse me.
00:58:28.560So the tax increase got that, then you're still going to have this, you're still going to have this deficit.
00:58:32.780That means you have to then have cuts, and those cuts can come from two basic broad generalizations.
00:58:40.000I'm not sure we're going to have time for Scott right now.
00:58:53.380I think Doge immediately, because remember, we have committed legally, contractually through the CR to pay for all the waste, fraud, and abuse.