The Alex Jones Show Live - Former BlackRock Analyst Edward Dowd Tears Apart The AI Doomsday Narrative Being Sold To Americans!

00:00:00.000 this is like the Second Amendment. You know, this is a weapon. And the U.S. citizens need their own

00:00:05.780 AI to combat the government. And so, you know, we can think of this as a Second Amendment right

00:00:12.640 as well. Everybody needs to have the ability to have their own AI hosted on their own computer.

00:00:18.160 And the corporations are already heading that way. So the Fortune 500 are already telling you

00:00:21.780 where they want to go. So why can't individuals have their own models and do their own things?

00:00:27.160 You know, Bernie Sanders wants to criminalize people for doing math and put them in jail for 20 years because that's basically what AI is.

00:00:33.000 It's math. So we're going to criminalize people for doing math.

00:00:36.340 This is getting absurd. So, you know, it's all about the framing and the positioning.

00:00:42.620 And, you know, thinking about this as a new Second Amendment right, I think it's a perfect way to go about this.

00:00:47.140 This thing is so far down the tracks, I don't think there's turning it back.

00:00:53.120 That's the problem.

00:00:54.100 So then if it's going to be out there, it has to be widely available to everybody.

00:00:58.600 That's my two cents.

00:01:01.560 We can't have a closed monopoly where the model weights are controlled and what you see and what you're allowed to talk about and research.

00:01:09.320 I mean, these people will shut down your research.

00:01:11.460 A lot of the physics we've been presented with is bunk.

00:01:14.220 The real physics is hidden from us.

00:01:15.700 And there's a lot. We all know there's all sorts of technologies and advancements that are hidden behind the curtain in the secret deep state government that even President Trump probably doesn't know about.

00:01:27.020 This is this has been talked about for eons. And, you know, what's the game here?

00:01:34.040 Eventually, they're going to release free energy if we can't build up the the power infrastructure fast enough.

00:01:39.880 We don't know. But there's a lot there's a lot that's hidden from us.

00:01:42.840 real-time uncensored unstoppable alexjoneslive.com take a stand share the link

00:01:52.520 do you want to fight you better believe you got one well edward dowd has a really good record of

00:02:00.040 predicting trends he worked as a wall street professional hsbc blackrock you name it he's

00:02:08.420 worked all over wall street the sell side the buy side expert in fixed income and equities capital

00:02:13.260 markets twitter dowd edward and we're going to talk to him about the ai psyop the economy the

00:02:20.600 private credit the midterms fed rate we're going to get into all of it there's a big article on

00:02:26.080 zero hedge ed dowd the ai game of thrones so you should probably dive into this big scare where

00:02:33.600 They went in the last week from AI will save you, cure cancer, live forever. 0.90

00:02:38.060 It's the God that's going to kill us all.

00:02:41.640 And we've got to, you know, put the brakes on and have government control it.

00:02:44.460 Bill Gates wants a global government to control it.

00:02:47.660 How does that tie into all those shifting power around the world, the Middle East, Russia, Canada, trying to join the EU, Trump calling it a national security threat?

00:02:55.620 Big movements here in the fourth turning.

00:02:57.560 Major realignment's happening.

00:02:59.400 There's no doubt that's happening.

00:03:00.420 Let's analyze it with Edward Dowd.

00:03:02.740 Ed, great to have you. Thanks for joining us today. Where do you want to start first? It's

00:03:06.860 all interconnected. Thanks, Alex. Great to be here. Let's start with the AI PSYOP and what's

00:03:12.800 going on. I wrote two Substack articles on my Substack Ed Dad Beyond the Narrative. The first

00:03:17.940 one was last week. The post-Labor Day AI PSYOP has begun or has been launched. And then I followed

00:03:24.960 it up because we got some news subsequent to that, the AI Game of Thrones. So what I think is

00:03:30.600 going on is the midterms are before us the uh i named i named the open ai and the anthropic people

00:03:38.520 the monopolists uh we got to go back to 2024 where mark andreason uh went into the white house and he

00:03:45.800 was told by the biden administration don't bother uh with any startups other than uh the ones we're

00:03:51.320 talking to because we're gonna have a monopoly one two or three open ai ai companies that the

00:03:57.880 government controls so basically that was the plan before trump got in and now these two guys

00:04:04.520 see uh open ai and anthropic see their opportunity because trump is hurting in the polls

00:04:09.160 additionally open ai and anthropic are not making money they're burning cash uh their cash uh burn

00:04:16.760 is is obscene and they're also facing competition from the chinese open source models and other

00:04:22.680 open source models so pricing is collapsing all this investment that's gone into this

00:04:27.880 is likely going to wind up being stranded and get written down.

00:04:32.360 The credit markets, which are ultimately the governor on all this, are starting to ask questions.

00:04:37.680 Spreads are widening on Hyperscaler and Neocloud companies.

00:04:40.900 So this is all conspiring to me for like a Game of Thrones situation.

00:04:46.040 The problem is the Trump administration, I call them the accelerationist or the speed racer group.

00:04:54.000 They just want to plow ahead. And neither is right. I think we're being presented with a false dichotomy. You just can't steamroll over local communities. You can't ignore safety issues. There are safety issues, but it's not going to end the world. There needs to be a discussion where the average human or somebody else is in the room, not just these two power blocks.

00:05:15.860 perfectly said that's what i said a few days ago is the lie is that it's either shut it all down

00:05:22.420 have government run it world government bill gates anthropic or peddle the metal it's above the law

00:05:28.120 we pick the winners do whatever you want when really it's about covering up a bubble that is

00:05:32.600 about to pop and i think both groups want it to be nationalized and protected once it collapses

00:05:37.940 so they're in charge with it then hype up regulating a shutting down competition

00:05:41.680 the name of safety with whatever's left on the other side of it

00:05:45.000 Yeah, look, this is a classic bubble. Bubbles are a feature of capitalism, not a bug. Whenever

00:05:54.340 there's a new technology, there's over-excitement, over-investment, and eventually the technology

00:06:00.220 gets commoditized. The infrastructure is built, the investors lose their money, but then eventually

00:06:05.300 the economy benefits from it. And we benefited from the railroad bubble. We benefited from the

00:06:11.480 like a utility bubble in the 20s we benefited from the internet bubble uh and we're going to 1.00

00:06:17.380 benefit from this ai bubble but the problem is they want to uh keep the ai out of the hands of

00:06:23.660 the people and they want to basically uh control it so that you know you you know you the digital

00:06:30.240 prison censorship uh tax extraction tax extraction i mean they can they can monitor almost everything

00:06:37.980 you do and it's a way to just basically uh rape rape the average citizen uh economically and we

00:06:44.620 can't we can't let that happen exactly it's just like the globalist developing the theoretic system

00:06:49.860 was it arpa darpa net in the 50s and 60s saw it as a control grid then it kind of backfired on

00:06:54.680 them i think some of the fear is real not the way they're hyping it for control but

00:06:58.140 they see all these independent ais decentralized ais uh they're able to thin slice things that

00:07:04.460 really challenge their monopoly uh they're overall getting us ready for the bubble to burst

00:07:11.220 and i'm really worried they're going to launch some cyber attack they're already saying rogue ai is

00:07:15.140 going to do it so they can be the geniuses on the other side that say see we've got to have

00:07:18.860 regulation to shut everybody else and over the kids can't have it that's always the excuse for

00:07:22.900 internet id bill gates has shown up to talk about that front and center wanting a global government

00:07:27.960 to enforce this that tells you all you need to know yeah bill gates he was there during the

00:07:34.280 vaccine situation. Now he's involved in this. What I find interesting is climate change was

00:07:41.620 on the lips of everyone, every alarmist's mind pre-AI. And now even Bill Gates has said

00:07:50.400 he may have been wrong about climate change. And the only reason he's doing that is because

00:07:54.560 they need tremendous amounts of power to build out this infrastructure. So they've dropped

00:07:58.560 climate change like a hot potato, and now they're on to the next thing.

00:08:04.280 This build-out requires so much power that we don't even have the grid available to plug these proposed build-outs into.

00:08:14.380 So it's going to collapse of its own weight eventually because there's nothing to plug into. 0.87

00:08:20.380 The Chinese have developed a different way of doing this at like a tenth of the cost. 0.98

00:08:24.440 They're not using as much power.

00:08:26.060 So the whole architecture of how we build out our compute is, I think, going to end up looking wrong.

00:08:33.800 This should be distributed rather than centralized. And the game here is the Game of Thrones. And we can't let either side win. The citizen has to be at the table. And we need to make sure we don't get into this.

00:08:48.200 you know uh you're you're you're not a patriot if you want to slow down data centers or you're

00:08:54.180 you're a communist if you want to have safety rules i mean it's black or white it's the it's

00:08:59.200 the classic divide and conquer it's not that simple it's more nuanced uh we need we need we

00:09:04.380 need we need people we need representatives we need consumers we need the average citizen in the

00:09:09.080 room uh if they get i don't know if they're going to get in the room but people need to start

00:09:12.980 squawking about this. Well, I saw it last week by you and a bunch of others saying, look for a

00:09:18.840 correction on Monday, probably. And now we saw it not just with AI being overvalued and all the

00:09:23.240 debts coming due, but also energy, finish up with AI and then let's move into the Middle East,

00:09:29.080 Russia. I mean, that is the US bonds, the yield being way up, the inflation exploding. Trump at

00:09:35.920 least doesn't tell us the war is over anymore. They're begging to be at the table. I mean,

00:09:39.520 this looks like a disaster that we're headed into. Yeah, to finish up the AI. So, you know,

00:09:45.300 look, they said they're going to pause the pacing. If they do, that has implications for the whole

00:09:50.300 investment food chain. You know, I doubt they're going to pause the pacing. I think they're just

00:09:56.060 talking out of both sides of their mouths. The AI bubble is, you know, it may have popped,

00:10:01.320 but it's in the process of going to pop soon. I'm not going to call the top of the stock market.

00:10:06.100 It could go a little higher. We could get into all-time highs. But credit is always the governor on these things, and credit is starting to have problems. The whole private credit complex, which is supposed to help fund AI, is frozen at the moment, and people are starting to ask questions about their link with insurance companies.

00:10:22.900 private equity and private credit over the last 10 years have bought insurance companies and dumped

00:10:26.680 a lot of their opaque loans into the policyholders' balance sheets. So insurance, private credit,

00:10:35.480 private equity, they're having problems, and that is going to feed into the AI being able to finance

00:10:41.200 itself. So eventually this whole thing comes tumbling down. Could it happen this week? Could

00:10:46.420 it happen three months from now? Who knows? But it's in the process. And that's why they're so

00:10:50.640 desperate. That's why they're doing this because they can see the end of the road. And that's why

00:10:54.920 you're seeing the moves that they're making. And that's why they're delaying their IPOs because

00:10:59.940 their financials are a disaster. OpenAI, if they do an S1, which is what you have to file before

00:11:06.560 you go public, people can see their financials and see how much money they lose. And that kind

00:11:12.660 of just ends the whole game because there's no return on investment yet. It's going to take a

00:11:17.060 lot longer than people expected initially, and it's classic hype, overextend the build-out,

00:11:24.920 bubble bursts, then the real wealth gets created down the line. The war, look.

00:11:31.720 Hold on, hold on. Let's go to the war in a minute, but I want to finish up with that since you're

00:11:34.840 bringing it up. I want to play that Marc Andreessen Club from a few years ago, which later came out.

00:11:38.340 Indeed, that went on. They said, really, there'll be one AI. We'll let three or four companies be

00:11:41.740 involved, but if you want to invest in this, you got to really come through us. It's a monopoly,

00:11:45.200 And now we see that basically coming back

00:11:48.500 Trump says he wants his liability protection with executive orders

00:11:51.400 For select groups

00:11:52.900 At one level he's acting like he's for decentralized

00:11:55.780 But really he is

00:11:57.380 But I go off what globalists say

00:11:59.860 And I said a few months ago

00:12:01.240 They're hyping an AI out of control

00:12:02.940 Causing a cybercrash or something 1.00

00:12:04.460 Now they've moved on from Iran being behind it 0.99

00:12:06.820 They're saying it is 1.00

00:12:07.580 I really see them doing some disaster

00:12:10.320 And then saying oh look we saved you from this

00:12:13.200 Just because of the pre-programming

00:12:14.660 I want you to think about that. But first, here's Mark Andresen, who is on the president's AI board a few years ago, talking about this one ring to rule them all behind the scenes. Here it is.

00:12:23.980 We had meetings in D.C. in May where we we talked to them about this and the meetings were absolutely horrifying. And we came out basically deciding we had to endorse Trump.

00:12:32.260 What what did you hear in those meetings?

00:12:33.940 AI is a technology basically that the government is going to completely control.

00:12:36.780 This is not going to be a startup thing.

00:12:38.200 They actually said flat out to us, don't start, don't do AI startups.

00:12:41.320 Like don't, don't fund AI startups.

00:12:43.020 It's not something that we're going to allow to happen.

00:12:45.440 They're not going to be allowed to exist.

00:12:46.980 There's no point.

00:12:47.640 They basically said AI is going to be a game of two or three big companies working closely

00:12:51.960 with the government.

00:12:52.860 And we're going to basically wrap them in a, you know, I'm paraphrasing, but we're going

00:12:56.320 to basically wrap them in a government cocoon.

00:12:58.180 We're going to protect them from competition.

00:12:59.700 We're going to control them and we're going to dictate what they do.

00:13:02.660 And then I said, well, I said, I don't understand how you're going to lock this down so much, because like the math for, you know, AI is like out there and it's being taught everywhere. And, you know, they literally said, well, you know, during the Cold War, we classified entire areas of physics and took them out of the research community. And like entire branches of physics basically went dark and didn't proceed. And that if we decide we need to, we're going to do the same thing to the math underneath AI.

00:13:24.580 Wow.

00:13:25.520 And I said, I've just learned two very important things because I wasn't aware of the former and I wasn't aware that you were even conceiving of doing it to the latter.

00:13:35.000 So, again, this is all a definitional deception and like Edward Downs said, a false dichotomy.

00:13:41.840 Trump's with a bill he tried to pass, an executive order saying the select group has liability protection from government to whoever it wants.

00:13:48.000 But, oh, he doesn't want a monopoly run by government.

00:13:50.460 He doesn't want to put the brakes on.

00:13:51.560 And so, like you said, it looks like two groups are saying two different things, but they really aren't, are they?

00:13:56.340 Yeah, you know, the devil's always in the details.

00:13:59.440 And, you know, it's who gets to control this thing.

00:14:02.420 Is it our team or is it the Democratic team?

00:14:07.520 And, you know, can we trust our team?

00:14:09.740 I mean, I don't think this power should be in anybody's hands.

00:14:12.320 It should be open to everybody.

00:14:14.380 There should be competition.

00:14:15.820 There should be.

00:14:16.300 And look, the corporations of America are already starting to do this.

00:14:19.440 They found out that OpenAI and Anthropic were potentially stealing their proprietary IP.

00:14:27.100 They got mad.

00:14:28.440 Alex Karp even talked about this.

00:14:30.620 So now they're hosting their own AI on their own servers, open source, and that's the way they want to go.

00:14:37.060 And that's why OpenAI and Anthropic are getting so nervous because the promised enterprise spend is going the wrong way.

00:14:46.000 So even corporations don't want this.

00:14:48.100 So we need to come together as a country. It's going to be very difficult because we're being presented with this false dichotomy, and everyone's going to scream at each other, and the Monica people are going to call anybody who questions a data center or a communist or a lefty, and it's just going to get off. It's just going to be a disaster.

00:15:03.920 I think your show and others are starting to see this.

00:15:07.620 You said it, I think, even before I came on last week.

00:15:10.080 This is a false dichotomy, and we need to break it.

00:15:13.900 You know, one thing I want to point out is Mark Andreessen had that meeting, and last

00:15:17.960 week when the PSYOP was launched, there was a political article that came out right on

00:15:23.700 time saying that they're disputing what happened in that meeting.

00:15:29.260 So, you know, they're trying to memorize what Mark Andreessen even has done reporting for

00:15:33.280 But you can see the policy being carried out. We don't need to believe, Mark, we can see it.

00:15:38.520 Absolutely. But I just wanted to point out the timing of the Politico hit. It's just further evidence this was a message psy-op.

00:15:47.380 And then once Obama and Hillary get on board, you know where this is all going.

00:15:52.160 But, you know, look, monopoly AI is basically a disaster for all of us. We know that. We can't allow it to happen.

00:16:00.540 And this is, you know, this is one of the biggest issues going forward over the next couple of years.

00:16:07.420 And finishing up with this and on to the geopolitical, it's all interconnected, obviously.

00:16:13.060 They are scared of decentralization, just like with guns.

00:16:17.240 Guns are dangerous, but the more it's distributed, the more we're safe.

00:16:20.420 Separation of powers, legislative, executive, judicial.

00:16:23.020 This is the law of the universe of a free society is distributed, decentralized.

00:16:28.380 And so, I mean, obviously, we're not going to turn the clock back.

00:16:32.700 So everything should be about what is true decentralization.

00:16:36.220 Oh, but it's too dangerous for all for you to have AI.

00:16:39.180 Only we have it.

00:16:40.160 No, that is a technological dictatorship, a breakaway civilization.

00:16:43.640 So we're going to have it.

00:16:45.140 It's got to be fully 100% wide open.

00:16:48.480 The thing is that it is so powerful, especially in the future, it's going to get wild, wild west.

00:16:53.000 And that's what people have warned about, is that the Antichrist will come along.

00:16:57.260 And people say, what's Peter Till talking about?

00:16:58.640 They go, oh, you're an act like Peter Till.

00:16:59.700 No, I'm not.

00:17:00.480 I can even see what he's saying more now.

00:17:01.980 And I'm not defending him.

00:17:02.860 You don't even know what his real motives are.

00:17:04.960 But he said, watch out.

00:17:06.140 There's going to be a global government set up to control AI that it'll have its own AI.

00:17:10.060 You won't have AI.

00:17:11.140 And I'm like, yeah, that is kind of biblical.

00:17:12.700 But regardless, just politically, that makes sense.

00:17:15.860 You know, I was talking over the weekend when this first came out last week with one of my friends.

00:17:21.680 And he actually made a good point off the cuff.

00:17:23.860 He said, this is like the Second Amendment.

00:17:26.560 You know, this is a weapon.

00:17:28.040 And the U.S. citizens need their own AI to combat the government.

00:17:33.760 And so, you know, we can think of this as a Second Amendment right as well.

00:17:39.700 I totally agree with you, Vic.

00:17:41.080 I'm going to put that clip up front because I swear I didn't hear your friend last week.

00:17:44.780 I was going to say it's like the Second Amendment or an arms race.

00:17:47.740 Well, in a free society, the people have arms, too.

00:17:49.740 So elaborate on that, Edward Dowd.

00:17:52.060 Yeah, I know.

00:17:52.500 No, I mean, look, you know, the health ranger, Mark Adams, Mike Adams has been talking about this.

00:18:00.660 Everybody needs to have the ability to have their own AI hosted on their own computer.

00:18:05.560 And the corporations are already heading that way.

00:18:07.540 So the Fortune 500 are already telling you where they want to go.

00:18:10.420 So why can't individuals have their own models and do their own things?

00:18:15.060 You know, Bernie Sanders wants to criminalize people for doing math and put them in jail for 20 years because that's basically what AI is.

00:18:20.320 It's math.

00:18:21.140 So we're going to criminalize people for doing that.

00:18:23.740 This is getting absurd.

00:18:25.780 So, you know, it's all about the framing and the positioning.

00:18:29.980 And, you know, thinking about this as the new Second Amendment right, I think it's the perfect way to go about this.

00:18:36.060 Yeah, and some troglodytes will say, no, no, just shut it down.

00:18:39.620 Do you see any future where this goes backwards?

00:18:41.720 I don't see that. 1.00

00:18:42.780 Well, look, you know, look, the Neoludites, that's fine. 1.00

00:18:47.760 And I understand their concerns, and it is going to change society, and there's going to be a lot of fallout, but we have existing laws on the books to hopefully take care of this. 1.00

00:18:56.400 This thing is so far down the tracks, I don't think there's turning it back.

00:19:02.440 That's the problem.

00:19:03.400 So then if it's going to be out there, it has to be widely available to everybody.

00:19:07.900 That's my two cents.

00:19:10.600 We can't have a closed monopoly where the model weights are controlled and what you see and what you're allowed to talk about.

00:19:18.620 I mean, these people will shut down your research.

00:19:22.120 And by the way, I knew this.

00:19:24.380 Marc Andres is super smart.

00:19:25.300 I didn't know he didn't know that the U.S. government, starting in like the 50s, did restrict all sorts of physics being shut down at universities.

00:19:33.020 I'm surprised he didn't know that.

00:19:35.920 You know, that's something that I learned recently in the last five years, you know, since COVID opened my eyes to lots of things.

00:19:43.480 And, you know, you know, a lot of the physics we've been presented with is bunk.

00:19:48.740 The real physics is hidden from us.

00:19:50.700 And there's luck. We all know there's all sorts of technologies and advancements that are hidden behind the curtain in the secret deep state government that even President Trump probably doesn't know about.

00:20:01.180 This has been talked about for eons, and, you know, what's the game here?

00:20:08.540 Eventually, they're going to release free energy if we can't build out the AI power infrastructure fast enough.

00:20:14.400 We don't know, but there's a lot that's hidden from us.

00:20:19.260 All right, we're going to go to break because I don't want to cut this off.

00:20:22.900 Give me your 35,000-foot view on the midterms, Trump in general, who the good guys are, who the bad guys are.

00:20:27.740 I know it's not that simple, but who the camps are right now globally.

00:20:31.160 A few minutes on that.

00:20:31.900 I want to come back and look at energy, look at the fourth turning, look at Canada going to join the EU.

00:20:36.580 Obviously, lines are being redrawn.

00:20:37.960 We're in a very liquid state now in the fourth turning.

00:20:40.420 But in the four minutes to break, just your sober address of Trump, the midterms, where we are.

00:20:47.500 Well, unfortunately, Trump has made a lot of errors that have plummeted his popularity.

00:20:55.120 And we've got to remember, I follow Richard Barris, as do you, and Mark Mitchell.

00:21:01.620 These guys are the honest pollsters.

00:21:03.920 And Trump won with the youth vote.

00:21:06.480 It's all about the marginal mind and how he won.

00:21:09.700 He won with the youth. 0.99

00:21:11.060 He's been catering to the boomers. 0.98

00:21:12.880 He's losing the youth. 0.97

00:21:14.520 The youth are not getting jobs.

00:21:16.420 They're not doing better.

00:21:17.520 They're not buying homes.

00:21:18.460 The real economy for the average, you know, 80 percent of the of the population has been stagnant to declining.

00:21:26.100 I believe we're probably likely going to be in a, you know, when we look back, it'll be a recession.

00:21:30.440 But it's bad for the average consumer. And his poll numbers reflect the economy.

00:21:36.060 It's always the economy. Stupid Biden lost because when Trump was going and going up against Biden, 1.00

00:21:41.380 the economy was even though they were reporting all sorts of bogus jobs numbers and and trying to propaganda, 1.00

00:21:47.220 propagandize us, real wages were down 2%. And with this recent war problem, real wages are

00:21:54.560 probably not doing as well either. So when real wages drop below 2%, you lose. And Trump's not

00:22:04.400 on the ballot, but the GOP is. And unless something changes, unless Trump pulls a rabbit

00:22:10.520 out of the hat or something dramatically assuages the voter,

00:22:16.500 it looks like it's going to be a disaster in November.

00:22:21.180 And, I mean, I'm 52, and I always hear, like,

00:22:26.100 youth is wasted on the youth.

00:22:28.200 I mean, I'm way smarter wisdom-wise every year than I was the year before.

00:22:32.380 And then as you get wiser, like Socrates says, I know I know nothing.

00:22:36.380 Now I look at these politicians, and I know some of the inside baseball.

00:22:38.680 They don't know what's going on.

00:22:39.760 the public thinks they've got like 50 DHS, they don't. The best thinkers are like, we're running

00:22:44.300 into dead ends everywhere with war, energy, all of it. And then Trump starts making some of the

00:22:49.040 worst decisions a year and a half ago, right when the Epstein flag's flown up. I think that clearly

00:22:53.840 is the Israel lobby to a great extent, but others. And then now I see what he's doing. He's not that

00:22:58.400 stupid with what he's pulled and what he's done. And so he was going from a really good course to 0.99

00:23:05.440 like one of the worst courses. And I try to imagine some 10 DHS. I just don't see it.

00:23:10.620 What do you think's happening? Yeah, look, I was super excited about the Trump administration.

00:23:16.000 The first six months we had Doge, uh, they were, they were exposing all the NGO networks.

00:23:20.900 They're exposing fraud. Uh, then something switched. Then, then, then he started going

00:23:25.840 sideways on the Epstein, uh, files. Uh, and then, and then, and then the, uh, then he started to go

00:23:31.800 sideways on the mass deportations, which is one of the other big issues. And then a host of all

00:23:38.080 sorts of other issues. You know, the glyphosate, the Maha people aren't happy. The mRNA shots are

00:23:43.940 still on the market. There's a flu shot, an mRNA flu shot got approved by the FDA. So there's a

00:23:50.140 lot of stuff that, you know, have really soured the marginal person. You know, yes, there are the

00:23:57.000 true trump supporters and then the true crazy lefties you always win on the middle uh the

00:24:01.880 marginal middle and a lot of the marginal voters for trump are going are very disillusioned and

00:24:07.420 probably won't show up i'm not saying they're going to go vote for the democrats but they

00:24:10.800 probably won't show up very well said i'm gonna try to give you the floor when we come back then

00:24:15.560 to get into this because you've made a lot of predictions better than i would and that's who

00:24:19.760 we have on is who has the best predictions you're you're up there in the top 10 i look at this

00:24:24.660 economically. And I, I mean, I already see what's happening in the economy on the ground.

00:24:29.280 Should I be, how concerned should I be? Because it doesn't look good with what's happening in the

00:24:35.360 Middle East and in Russia. Let's talk about it when we come back and you get a prognosis on the

00:24:40.200 economy without any doubt. Stay with us. But remember, you are the emissaries. You are the

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00:26:31.120 So finishing my point

00:26:32.120 with Edward Dowd,

00:26:33.540 a really smart guy

00:26:34.340 on Twitter, DowdEdward.

00:26:39.480 I see these people online

00:26:40.940 with all their Q stuff

00:26:41.760 and the rest of it.

00:26:42.600 And when you've gotten

00:26:43.180 to the level I met

00:26:43.760 over 32 years,

00:26:44.640 I'm not bragging about it.

00:26:45.640 I get to talk to people

00:26:47.480 at the top all over the place and they call me just to bounce ideas around and they say we don't

00:26:52.960 know what the hell we're doing Trump doesn't know what he's doing I told you that six months ago it's

00:26:58.160 leaked out and I find that even more frightening even though I don't like a powerful evil

00:27:01.940 establishment the fact that it's out of control is even more frightening and then I watch all the

00:27:09.540 other leaders of the movements like the EU said the unelected commission didn't know Ursula

00:27:13.580 vanderladen and i said a week ago when he said i'm going to join the eu i said the deal's already

00:27:17.460 made he's like yes we accept you do you understand canada entering the unelected eu power block

00:27:22.660 and the whole history of that and what that means with the oecd and the international bank

00:27:27.100 of settlements that all the lines are being rewritten trump was hit flat-footed and says

00:27:33.480 this looks like a military threat which it is this is economic real military is economic that's the

00:27:38.620 base. Physical stuff's when it's failed. That's like the last projection of it. And you add in

00:27:45.360 all the other stuff and us abandoning Saudi Arabia, which means abandoning the petrodollar,

00:27:49.380 but then the sitcom goes, no, we're not abandoning. We're not fleeing the Middle East, but we are.

00:27:53.340 And they've covered up the bases being blown up. And then they blow up the main pipeline pump

00:27:57.260 and they can blow up anytime they want. But two weeks ago, oh, it's worthless water,

00:28:01.080 worthless real estate, straight wool. In two years, it'll be obsolete pipelines. Those are

00:28:04.900 is going to blow up in a ship. I mean, a two-year-old knows that. A first-year ROTC student.

00:28:10.720 So I just, Bessent can't be that stupid. Trump can't be that stupid. I then try to project 1.00

00:28:16.040 some massive super level of this, but I still have sources in the White House saying, no,

00:28:19.640 they have screaming matches and they don't even know what to do. They didn't know what to do when 0.71

00:28:22.600 this started. Trump literally thought a week into this that it was going to fall. He told Tucker the

00:28:26.960 last time he talked to him, he said, watch, it always works out the way I say. And then the

00:28:30.380 people that told Trump, right, they're all anathema. You know, they've announced, oh,

00:28:33.800 we're all under investigation for foreign money while an open foreign power is swinging its dick 0.99

00:28:38.280 around, literally saying we own everything, screw you. And I know I've not taken any foreign money 0.99

00:28:43.300 or any domestic money other than direct sales. So I'm looking at this and, I mean, I don't have

00:28:49.620 words strong enough to, and normally there is an equilibrium and a stabilization things, but we're

00:28:54.580 in a fourth turning and it's a mega turning. And so I look at that historically, things get really

00:28:58.880 violent big wars always happen as elon has warned and i i i'm seriously concerned because the average

00:29:05.020 decision maker is like 75 or 80 that own these hedge funds that run these things and they're so

00:29:10.760 and i'm putting down old people because you know i'm older myself but not like them they are so

00:29:14.340 disconnected at 52 i'm kind of at the crossroads they're so disconnected i feel like the really 0.83

00:29:19.720 young don't know what's happening the really old don't know what's happening i don't have live

00:29:22.380 experience when they're young the old aren't connected to the real new world and i gotta be 0.96

00:29:26.460 honest, Edward, I'm not an alarmist because I've always been an optimist. If we're not very careful 0.90

00:29:31.840 and don't have some giant trigger that wakes people up and survivalism doesn't kick in, I think we're

00:29:36.420 going to full global war as the actuaries and the analysis shows. I mean, I think if the elites

00:29:42.160 aren't very careful, I think this thing goes over the edge. What do you think? You know, I don't want

00:29:48.360 to be a gloom and doomer. I hope we can avoid a global world war, especially with nuclear options

00:29:53.660 involved but we got a demographic problem which is uh causing uh growth in a lot of regions to go

00:30:00.920 the wrong way tremendous amounts of debt and uh economies uh sputtering and people when that

00:30:07.260 happens they can't blame them they don't want to the policymakers can't blame themselves they have 0.50

00:30:11.540 to blame someone else let's and that's going on in china china is a disaster right now uh their 0.74

00:30:16.960 demographic i'm sure you've seen the videos and i didn't just believe them i went and looked at

00:30:20.360 random videos, their shops are empty. I mean, it's a depression. Yeah, it's a depression.

00:30:26.640 Their bond yields suggest that they're in a deflationary death spiral. What they've been

00:30:30.780 trying to do is export their way out of it and dump their deflation on the world. That's why

00:30:35.300 Trump, rightfully so, is involved in tariffs and trade wars. That was very controversial when it

00:30:42.120 came out. It was the right move long term, but the way they enacted it, obviously, they fumbled

00:30:47.940 the ball there and how Lutnick got involved and you know the rest is history but yeah don't you

00:30:53.520 think he purposely wrote the bill I mean the law to fail is the Supreme Court wrote from people

00:30:59.040 who don't wrote him a letter saying if you'd have written this different it would have stood up

00:31:01.500 and then Lutnick bought the insurance on it I mean come on you know I there's yeah look the fact that

00:31:08.560 he's still got a job is very interesting to me I don't I don't know why he's still employed there

00:31:12.800 after he lied about Epstein, and this whole, the optics are just awful. Look, I don't know the

00:31:18.900 guy, I don't know why he still has a job, and others have been fired. It makes no sense to me.

00:31:23.540 But, you know, let's talk about the potential for war. So we got China is, you know, their biggest 0.99

00:31:31.220 fear has always been their people. There's about 7 million card-carrying members of the CCP.

00:31:37.160 They control all the wealth.

00:31:39.020 There's billions of people that they fear all the time.

00:31:42.980 Again, I've been told this, you know, in the early 2000s, when I was at BlackRock, our energy guys would go over there.

00:31:49.940 That's what they were told.

00:31:50.820 They fear their own people.

00:31:51.680 So the gig was to keep them employed all the time.

00:31:54.460 Well, that's going the wrong way.

00:31:56.400 So they need a bugaboo. 0.87

00:31:58.280 And the bugaboo is going to be the U.S. and Taiwan. 0.97

00:32:01.080 So they need a ginormous distraction. 0.98

00:32:03.640 The factory of the world is a disaster.

00:32:05.960 Their net fixed investment is minus nine percent as of the most recent month.

00:32:10.860 That's the first time ever it's gone. It started going negative in the fourth quarter.

00:32:13.880 So they're in big trouble. So, you know, when they're in big trouble, they could do crazy things.

00:32:18.880 Then we got the Ukraine situation. And the truth of the matter is Russia is slowly grinding towards Kiev.

00:32:25.940 And, you know, this war is going to get wrapped up soon.

00:32:28.820 The problem is the we've got NATO that wants to do some crazy things. 0.74

00:32:33.600 And if we get any kind of tactical leak situation, Katie, bar the door.

00:32:37.820 So geopolitically, it's a mess.

00:32:39.800 Then we got the Iran situation.

00:32:42.560 And look, if people want to understand why yields have gone up, they started going up the day the war started.

00:32:50.540 By the way, Edward, stop, stop.

00:32:52.480 We have a smart audience, but a lot of people have people on the street.

00:32:55.040 I was at Costco like a week ago.

00:32:57.220 And this lady said, why do you keep talking about bond yields?

00:33:00.380 Isn't it better if they pay more?

00:33:01.980 No, it means they've got to pay more because people aren't sure of the government debt.

00:33:06.120 And what does monetizing it mean?

00:33:07.720 I had another family member who's even pretty smart.

00:33:10.240 They said, well, what does it mean if we're monetizing?

00:33:12.200 Why don't you explain it to people?

00:33:15.000 Yeah, so the yield started going up.

00:33:17.560 A lot of people are speculating yields are going up because it's a sovereign debt crisis.

00:33:21.380 I don't think we're there yet, especially in the U.S.

00:33:23.820 I think yields are rising because the war started and there was a supply shock.

00:33:27.660 and a supply shock is temporary as long as the war ends and there were uh yield started to come

00:33:34.500 back down when the mou was uh proffered but yield started rising again the longer this goes on

00:33:40.340 and the fed wrote uh raised interest rates yesterday because the t-bill market uh the

00:33:44.840 dirty little secret is the t-bill market leaves the fed up and down the t-bill market uh forced

00:33:50.340 them into a 25 basis point rate hike and the t-bill market and the money markets are saying

00:33:55.700 okay this is a supply shock but the longer this goes on it becomes more structural and it becomes

00:34:02.360 more structural then inflation expectations will rise uh so it's not good i know you're smart

00:34:10.160 people don't know this most of the audience is smart but people don't know that it's harder to

00:34:15.300 sell our debt and the government's having to buy a lot of our debt that's never a good thing

00:34:19.920 i know i'm like dumbing it down but people don't seem to understand this is not a good deal

00:34:24.000 that's like higher yields are going to higher yields are going to be uh the solution to higher

00:34:31.440 yields high yields themselves and what i mean by that is they get to a certain point where they

00:34:35.840 choke off economic activity we go into a deeper session which i've been predicting anyways this

00:34:40.820 only accelerates it and then yields will come screaming down very fast because we'll be in a

00:34:45.720 crisis you'll at some point and i'm not going to you know don't hold me to the timing of this but

00:34:50.680 We're going to see the Fed do emergency rate cuts at some point.

00:34:55.200 But let me stop before we go there.

00:34:56.600 Unpack for people, again, because people say, why am I dumbing it down?

00:34:59.680 9% of the odds are smarter than I am probably.

00:35:01.500 But we care about the sheep that don't understand.

00:35:03.580 We're trying to wake them up so they're sheepdogs.

00:35:07.260 Looking at this and just explaining general inflation to them and energy,

00:35:14.180 a lot of people say, why do we care about gas prices?

00:35:17.320 We can handle that.

00:35:18.040 They don't understand.

00:35:18.580 that bakes in, like with diesel, the rest of the economy. And then we were on the verge of

00:35:22.660 economic insolvency. So that's why right now, this is not a good thing, right?

00:35:28.300 It's not. Look, high diesel prices and high gas prices are literally a tax on the consumer that

00:35:34.400 is already underwater. This is going to cause a real demand destruction. And we're going to see

00:35:41.500 the economy contract even faster than I was predicting. So if Trump wants lower interest

00:35:46.260 rates, find a peace deal and a solution and get the straight open. Bond yields will collapse

00:35:51.880 immediately. Gas prices and oil will go a lot lower because China is already a disaster. Oil 0.98

00:35:58.960 prices before this were $58. We were projecting they were going to go to $30 because of the

00:36:04.180 economic slowdown. We have a burst of inflation. Then inflation will cause demand destruction

00:36:12.760 because it's supply shock inflation, then we get deflation.

00:36:16.700 This happened, people forget, in 2008, we had a housing crisis,

00:36:20.920 but oil and inflation was ripping into June of 2008.

00:36:25.220 No, no, I agree with that, but how long could we get stag inflation before the correction?

00:36:30.740 We're in stag inflation.

00:36:32.240 We're in the upswing of the inflationary impulse temporarily.

00:36:36.680 Then eventually, we're going to get a come-to-Jesus moment,

00:36:39.880 And, you know, we're going to get like a stock market sell off or we're going to get some bank issues. 0.87

00:36:45.780 So if you were talking to Trump and Iran thinks they have the cards now, which they do, but that's still dangerous because they can push us all the way. 0.80

00:36:53.900 What would your advice if you had three minutes to talk to Trump, Edward Dowd right now? 0.98

00:36:57.700 By the way, the White House watches a lot of the show.

00:36:59.280 Probably he might see it.

00:37:00.780 The vice president watches all the time.

00:37:02.620 What would you say to the president if you had three minutes in front of him in the Oval Office right now?

00:37:05.700 get out of the iran situation broker peace deal walk away as fast as you can unfortunately i think

00:37:14.160 trump is already aware of the fact he said that the war will be over after the midterms because

00:37:19.000 i think the iranians are not going to do anything before the midterms so if you can broker deal

00:37:24.400 broker deal get out as fast as you can you're only a minute in what would your other advice

00:37:29.120 be to the president on domestic and other economic policies well i would i i would speed up the

00:37:35.280 deportations, and you could do that by hitting them where their money lies. I know Besson has

00:37:41.500 talked about this, but you stop funding the illegal aliens currently that are on the dole,

00:37:50.220 and there are ways to do that, and they'll self-deport. You don't even need to have ice

00:37:53.880 running through the streets. You attack the money problem, these people will leave and go home.

00:37:58.340 Uh, and, uh, the other, the other thing is he needs to, um, you know, at least show that he's

00:38:05.280 going to prosecute some of the things that happened during COVID. Uh, a lot of the, uh,

00:38:10.080 the, the, you know, a lot of people have not seen the prosecutions that they wanted,

00:38:13.940 you know, even the Russiagate hoax, which has been well documented on your show. And we all

00:38:18.680 known since 2016, no, no, no one's, no one's going to jail over that. That was serious,

00:38:24.460 treason at the time. And the longer we just let these things lie, the more people feel like they

00:38:30.380 can get away with anything. Well, instead, a bunch of Trump's people, the neocons, are claiming we're

00:38:34.940 all Russian agents because we're against the war now. And did you see this new DOJ sending a warning

00:38:39.660 out about foreign funding, which they put my picture on, or not the DOJ, but some of their

00:38:43.360 operatives did? But I'm taking notes. So you got all this foreign Israeli money and Qatari jets to

00:38:48.080 Trump, and they've got the nerve to say we're going to investigate everybody else and see what 0.99

00:38:51.860 foreign money they're getting that just smacks of idiocy well look these people are desperate 0.99

00:38:57.800 they're losing they're losing the narrative wars so now they just got to gaslight and and you know 0.99

00:39:02.800 go after people and and and cause uh you know it's like lawfare against influencers i guess

00:39:08.720 not like i haven't experienced that before so since you mentioned this i want to play the clip

00:39:14.200 uh here's a clip of trump says he may see canada eu membership as a hostile act

00:39:18.760 Clearly, EU is collapsing, worse demographics, worse debt, even I would say China or maybe their twins.

00:39:24.740 So Trump's grabbing Venezuela, grabbing this to make our overall asset sheet bigger, which you can tacitly be against it in idea of regime change.

00:39:33.160 But in pure imperialism, that move made sense. 0.53

00:39:35.800 I said, will it embolden to go into Iran, which it did. 0.57

00:39:38.840 But then now the EU saying it's going to basically come in and merge with Canada.

00:39:44.600 That's a big move, I think, of desperation.

00:39:46.480 I don't think it really does anything.

00:39:48.260 But then Trump now sees it as a threat.

00:39:49.820 I want to get your take on it.

00:39:50.540 Here it is.

00:39:52.320 Now, I think it's laughable.

00:39:53.920 Look, the whole thing with Canada.

00:39:56.200 Canada has been a terrible trade partner.

00:39:58.880 And no, I don't see that.

00:40:01.380 And if they do that, if I think it's at all a hostile act, I will put very serious tariffs or stop trading with Europe on many things.

00:40:10.420 So if they do that, if Europe does that with a bad intention, if it's a good intention, that's fine.

00:40:17.060 If it's a bad intention, we'll put very heavy tariffs on Europe.

00:40:21.200 So, Edward, do you agree with me that we're in a period of time we know during a fourth turning or any major revolutionary period that they call it a liquefaction from stagnancy or being hard into a liquid phase?

00:40:30.460 I think this is just more evidence of the international order disappearing.

00:40:34.600 And I don't think there's even any real clear system about how it's going to reorganize.

00:40:38.920 It seems very haphazard. What do you think?

00:40:40.420 Yeah, this move by Carney, I agree with Trump. It's kind of laughable. You know, let's look at the EU. The EU, I think somebody, I saw a factoid that something like 40 to 50 percent of the economy in Europe is from the government.

00:41:01.080 Currently in the U.S., it's like 25 percent.

00:41:03.600 So basically, you know, Canada wants to become more like Europe, where the government is basically a bigger fiscal dominance, where the government is a bigger show of the economy.

00:41:12.440 That's communism.

00:41:13.760 So they're just running to the arm and the EU at this point.

00:41:16.060 I mean, look, you heard all the people from Europe who came over for the World Cup and were surprised at how great the U.S. was compared to where they were living.

00:41:24.900 And, you know, they've been propagandized.

00:41:26.060 They've been living under communist dictatorship, bureaucratic dictatorship for the last 15, 20 years.

00:41:31.400 It's a joke in Europe.

00:41:32.280 It's there's no grub and it's it's it's a disaster.

00:41:35.740 Europe is a basket case.

00:41:38.100 And if there is a sovereign debt crisis, you know, it ain't going to be the U.S.

00:41:41.580 It's going to be Europe.

00:41:44.360 But it is a Monroe Doctrine because I'm against foreign wars.

00:41:47.780 what you get in our sandbox. I don't think the United States should allow Canada to join

00:41:53.360 the unelected European Union. I mean, if it was an elected thing and then they voted,

00:41:58.720 the people voted. But I don't think Carney has the right to merge with another unelected system.

00:42:03.480 I mean, I think I'm into real threats. I'm not for fighting Russia that wasn't a real threat

00:42:07.980 until we started it. It's a threat now because we're punching in the nose. But I think, I mean, 0.99

00:42:13.300 And obviously, I don't – yeah, they say it's not serious.

00:42:15.960 It's so wild.

00:42:17.020 But I think it has to be responded to as if it's serious.

00:42:20.420 What do you think Trump should do? 0.97

00:42:22.380 Look, the Monroe Doctrine is not a stupid thing. 0.93

00:42:27.200 There's a reason it worked.

00:42:29.400 And basically, Carney wants to try to not identify as a member of the North American

00:42:36.660 colony.

00:42:37.440 That's a no-go.

00:42:39.240 This is geographical implications.

00:42:42.440 Trump, if he frames it correctly, will have the support of the average U.S. citizen.

00:42:45.900 It just has to be framed correctly, and there's precedence.

00:42:49.080 So I don't think he's out of order saying what he's been saying on this.

00:42:53.780 Why is Carney, we know he's the former head of the Bank of England,

00:42:56.320 he said famously, I'm not Canadian or British, I'm European.

00:42:59.400 I mean, he is a thoroughbred.

00:43:00.600 They actually brought a technician in, not just a puppet like Trudeau,

00:43:03.100 they brought his boss in.

00:43:04.860 What do you think the overall, I mean, I've got my ideas, Edward,

00:43:07.820 but what is the reason for something like this?

00:43:10.380 oh it probably benefits uh his private equity friends he's a private equity guy and when you

00:43:17.640 merge the government in the state and you have you know this this is all about making money

00:43:22.060 uh when he's out and you know it's it's it's classic self-enrichment there there's there's

00:43:27.740 no reason to join the eu given the fact that the eu is is you know anemic growth uh and it's the

00:43:35.360 The European Union, like you said, it's not the North American Union.

00:43:39.260 Correct.

00:43:40.440 And, you know, look, I don't think this, I think this is insanity.

00:43:43.300 And look, I think Trump would be mostly supported by the U.S. citizens on this issue.

00:43:49.980 There's a lot of issues that are either or, but this one is not that hard.

00:43:54.860 So it does smack of desperation by Carney.

00:43:59.060 Desperation and self-enrichment.

00:44:00.580 Yeah, because people who don't know, the left and the kind of Rothschild globalist arm has been moving a lot of money under Trump to Europe, kind of betting on that.

00:44:08.980 How is that going, Edward?

00:44:12.100 You know, I wouldn't invest a dime in Europe.

00:44:16.080 They've got demographic problems.

00:44:18.540 You know, it's been written by my partner, Carlos Allegri, in his book, Economic Cycle, Steady, and Demographics,

00:44:24.520 that it's not a question of if, but when the European Union and the Euro disintegrates

00:44:29.660 due to demographic disparities.

00:44:31.080 The North has a better demographic profile than the South, and the South is being supported

00:44:35.820 by the North.

00:44:36.840 And eventually that, you know, that gets torn apart.

00:44:41.000 Well, as much as I criticize Trump, I am seeing some real politic.

00:44:43.580 And I even saw Victor Booth from a Rush perspective.

00:44:45.820 He is saying, we'll help the Falklands go to Argentina.

00:44:49.140 We'll recognize any rid of the monarchy.

00:44:50.800 He will recognize Scottish and Northern Ireland merging back with Irish independents.

00:44:56.060 He's doing a lot of stuff kind of under the radar to really shake the U.K.'s chain.

00:45:02.100 Is that because the U.K. is still back in the Ukraine war?

00:45:05.100 Why do you think Trump's doing that?

00:45:07.600 Well, the city of London still has a lot of financial control.

00:45:11.700 You know, you get MI6, MI5 doing all sorts of off-the-books nonsense.

00:45:15.960 I think he's rightly looking at our so-called partner with clear steel eyes.

00:45:26.000 How does Israel, the most unpopular country in the world now in polls,

00:45:31.220 embroiling us, and obviously there's other reasons we're involved too,

00:45:34.700 but how is that going?

00:45:36.980 How do you see Israel playing into this?

00:45:38.920 What's their future?

00:45:39.540 Well, you know, unfortunately, Israel has not done a good job of managing the narrative. 0.65

00:45:48.860 They're losing the narrative war, and they are basically throwing as much money around as possible to people in power.

00:45:57.980 And, you know, this has been, you know, it doesn't matter whether it's Israel or Monsanto, our politicians are bought and paid for, and they'll take whoever offers them a check.

00:46:07.420 So Israel's losing the narrative war, but they're spending tremendous amounts of money to get what they want.

00:46:14.780 Well, my position on Israel is this.

00:46:16.920 I didn't want to obsess over Israel.

00:46:18.420 It was involved in some foreign policy control and some domestic.

00:46:20.440 Now it really is seeing the vacuum of the Democrats collapsing, trying to take over with the NDA and all this.

00:46:25.040 It forces me to deal.

00:46:25.880 And then they attack me and everybody else.

00:46:27.440 And I'm like, do you not see the tides turned?

00:46:30.000 The smartest thing when you just shut up and kind of back off, you've already defeated most of your enemies. 0.97

00:46:34.420 But instead, they're all swole up and pissed and money's flooding back into Israel from Jewish billionaires and they're all wound up. 0.91

00:46:41.840 And I don't see this going well for Israel. 0.97

00:46:44.020 And I do not wish them ill will, not just because I don't hate them, but B, I can know they've got a lot of power.

00:46:49.500 They're going to double down and then they're going to get crushed, I think, in the end. 0.86

00:46:52.740 I mean, if Israel keeps going much further forward, we've paused the demarcation line, I think, here on Event Horizon. 0.81

00:46:58.560 Can you speak to that or what your view is?

00:47:00.040 Look, their biggest, you know, strategic mistake was really pushing the fact that criticism of Israel is anti-Semitism and that that really, you know, you know, very middle of the road.

00:47:16.280 People don't like that. And, you know, when you conflate those two, they really are doing themselves a disservice.

00:47:22.200 They're trying to enact speech laws about that. People don't like being told what they can and can't say.

00:47:26.820 And Judaism is not Israel. Israel is a state with a religion, obviously, but the state of Israel, even not all Jews agree with what Israel is doing. 0.61

00:47:37.020 And people forget, before October 7th, there were mass protests against Bibi Netanyahu.

00:47:42.580 His government was going the way of the dodo bird, but then magically that came along and the emergency powers came into being.

00:47:49.740 So this conflation of, you know, criticism of a state is anti-Semitic.

00:47:57.080 That's where they lose the plot, and that's where a lot of people draw the line.

00:48:02.280 So do you agree, I mean, overall, Israel is in the weakest position since its founding, in my view, right now?

00:48:07.060 I mean, it's bad.

00:48:10.100 Well, there's two things.

00:48:12.820 There's the narrative, and they've lost the narrative amongst a good swath of the U.S. population.

00:48:18.720 Whether or not they've lost power amongst people in Congress and seats of power remains to be seen.

00:48:25.160 But the longer this narrative disconnect goes on, more and more people will peel themselves away from Israel, and they'll lose eventual political support.

00:48:33.520 Yeah, they had like 70 percent in boomers two years ago.

00:48:36.420 Now it's like 58 or something, depending on the index of polls.

00:48:39.400 I mean, they're having a collapse in support all over the world.

00:48:42.880 And like you said, the more they double down, people weren't even looking at it are getting pissed off.

00:48:47.000 And then it's sucking all the oxygen out of the room. 0.81

00:48:49.040 And I guess that's a power trip for some Zionist over there because they can get a bunch of donations out of it. 0.90

00:48:52.960 But it's not good for anybody long term. 0.93

00:48:55.580 Right. And look, let's be honest.

00:48:57.280 You know, we don't want to we don't want to like a Muslim intifada going on in the U.S. 0.88

00:49:01.860 So, again, it's not a black or white issue.

00:49:03.560 It's more nuanced.

00:49:05.280 And again, it's another false dichotomy.

00:49:07.680 You know, either you're for Israel or you're against.

00:49:09.240 No, you can be for Jews.

00:49:11.100 You can be for, you know, against anti-Semitism, but also not like the state of Israel.

00:49:16.000 It's more nuanced.

00:49:16.800 And people people aren't allowed to take these nuanced views because people like the false dichotomy, like to label others.

00:49:23.280 And that's it.

00:49:25.480 That's it.

00:49:25.840 I see the Israel lobby getting completely wild eyed.

00:49:27.860 And then now the anti-Israel thing has gone completely wild eyed.

00:49:30.820 And then you've got the Red Green Alliance.

00:49:32.640 And I'm just like, how do I hit the reset button? 0.99

00:49:34.700 Like, stop it.

00:49:37.020 Yeah, I've been listening to you, Alex.

00:49:38.660 You're very nuanced, and you're calling balls and strikes, and that's what I try to do.

00:49:42.800 Again, when you get into black and white thinking and team thinking, you kind of lose the plot.

00:49:49.060 Incredible.

00:49:49.760 I know you've got to go, but do five more.

00:49:51.280 I want you to know whatever topic you want to hit in closing, people can follow you at DowdEdward,

00:49:55.400 Edward Dowd, just D-O-W-D-Edward on X, and you can find his other sites.

00:50:00.600 We're going to be back in two minutes.

00:50:01.860 I'm just going to add him to say whatever else he wants to get to.

00:50:04.080 He's a really smart guy.

00:50:05.140 He's been very polite the last 50 minutes.

00:50:06.360 Let me ask questions.

00:50:07.120 I want him to finish up. Then we've got a great other guest joining us. Stay with us.

00:50:18.040 All right, Matt Bracken just sent me a whole bunch of maps and documents.

00:50:23.060 It looks like Trump's setting up an army base in Poland that isn't NATO.

00:50:27.100 That's a big move. We're checking that, but I remember them talking about that.

00:50:30.900 So a lot of reshuffling, but Edward Dowd wanted to finish up with a point that's very important,

00:50:35.800 and that is private credit and how that ties into everything else that's happening and more on the

00:50:42.960 Fed rate discussion, which Trump put everything behind getting rid of the Jerome Powell and

00:50:46.820 putting in the new guy. But because of Trump's policies, they have raised rates, which you

00:50:50.620 could argue is the wise move. Finish up with the Fed real fast. Do you think that was the right

00:50:54.220 move by the Fed? I think that honestly, this may be controversial. It's very difficult to

00:51:02.380 you know, tampered down inflation and a supply shock.

00:51:06.140 So I think they're going to make financial conditions harder.

00:51:08.480 I think we'll look at this as a policy error in hindsight.

00:51:11.440 They should have probably held, but the market was telling them to hike. 0.92

00:51:14.740 So they were damned if they do, damned if they don't. 0.90

00:51:16.980 So it's a very delicate situation.

00:51:19.980 I think six months from now, we'll be talking about Fed rate cuts

00:51:23.780 because the economy is-

00:51:25.100 Sure, you're saying it's already happening.

00:51:27.280 Let inflation do it on its own.

00:51:29.260 It's not going to do anything.

00:51:30.260 yeah it's supply so the only way to stop a supply shock is is is either very high prices

00:51:38.180 which create demand destruction or you or you end the war one of the two so higher higher oil prices

00:51:44.000 will end the uh the inflation because there'll be huge demand destruction um and and trump could

00:51:50.560 end this war so that that that's the only way to get out of this situation what's happening with

00:51:54.700 private credit yeah so private credit is a category that grew quietly after the great

00:52:01.580 financial crisis uh after the great financial crisis they regulated the banks so they were

00:52:06.500 unable to make uh risky loans like they used to so a new industry was born it's called private

00:52:12.380 credit linked to private equity because private equity has a lot of private credit funds and what

00:52:16.820 they do is they basically uh make private loans to companies and then uh you know they're they

00:52:22.800 the spread is a little higher than it would be in the public junk bond market. So they've taken

00:52:26.920 share from the junk bond market. The problem is the category has grown from very small,

00:52:31.920 two and a half to three trillion. 50% of that growth came in the last few years, 24, 25,

00:52:37.540 and now 26. And that's been the incremental credit. And the point I want to make is it's

00:52:44.580 dark credit. No one knows what's going on because there's no public votes. They mark their own books.

00:52:50.080 Losses are starting to escalate, and people are starting to figure this out.

00:52:53.940 So private credit is having outflows, and they're gating their funds.

00:52:58.140 It's very liquid paper.

00:52:59.920 No one knows what the eventual losses are going to be.

00:53:03.060 Could that lead to bank runs?

00:53:06.400 Not bank runs, but it'll lead to a contraction in the economy and a liquidity problem.

00:53:11.940 I understand investment-wise it hits first, but then couldn't that trickle down into banks not being solvent and people are pulling money?

00:53:18.680 I know all the private investment isn't in banks, but it seems like that would have an effect.

00:53:23.000 Some banks may be exposed, and there may be a bank run.

00:53:26.300 There may be some regional bank consolidation.

00:53:28.960 We're not making a systemic call, but this is – what's super opaque about this is no one really knows what's going on in the loan books.

00:53:37.220 But losses are starting to come out.

00:53:38.620 There were some famous bankruptcies at the end of 25 First Brands and Tricolor, which were linked to after auto parts markets and illegal immigrant car loans.

00:53:47.860 So that's going the wrong way. 0.70

00:53:50.400 And the last two years of loan growth from commercial banks was to these private credit and private equity guys.

00:53:56.500 Now, the good news is they have first lien.

00:53:58.820 But the bad news is a lot of the insurance people that have policies are going to be on the hook because about 20 percent of this industry went out and bought insurance companies to dump these loans into.

00:54:10.020 And Guggenheim is ground zero for this.

00:54:14.000 Guggenheim, you may have heard about this guy, Mark Walters.

00:54:17.000 He didn't disclose that he took $20 billion to expand his sports empire.

00:54:22.160 He now has to put that money back.

00:54:23.560 He has a regulatory margin call.

00:54:25.740 And that's not just here, right?

00:54:27.060 I mean, isn't insurance in general, like in Japan, everywhere in trouble?

00:54:31.020 Yeah, there's a black hole.

00:54:32.820 So the losses are coming.

00:54:35.120 And when losses start to come, credit markets freeze.

00:54:38.500 And then it has feedback loops throughout the economy.

00:54:41.200 And eventually the stock markets.

00:54:43.060 I just wanted people to understand, private credit,

00:54:44.880 You're not going to see it because it's not quoted, but you can track things.

00:54:48.580 I wrote about this on my sub-stack, Beyond the Narrative.

00:54:51.580 You can see it by true movements.

00:54:54.300 A bunch of CEOs have resigned.

00:54:55.880 So you're saying that's probably a big black swan. 0.66

00:54:59.980 Yeah, that's a black swan.

00:55:01.940 Edward Dowd, amazing.

00:55:03.120 Thank you so much.

00:55:04.100 God bless you.

00:55:04.660 We'll talk to you soon.

00:55:06.300 Thank you.

00:55:07.220 Powerful interview.

00:55:08.020 Dead on information.

00:55:08.900 Stay with us.

00:55:09.940 We know it is on purpose. 1.00

00:55:11.680 The bisphenol A, the atrazine, all the stuff we're bombed with is literally for women and men destroying us.

00:55:19.020 And that's what the doctors and scientists do. 1.00

00:55:20.440 I'm not one, but I talk to them is they just take you back to the normal level.

00:55:24.280 This isn't like you're you're in the NFL injecting all this anabolic stuff, folks.

00:55:28.200 This is just getting back to what humans are supposed to be.

00:55:31.740 And that's how we have to counter the globalist is with the science God gave us.

00:55:35.460 I think men have definitely been having more effeminization over the years due to a lot of the byproducts of what we're eating.

00:55:43.340 I mean, at the end of the day, you try to get good meat and, you know, they have different hormone byproducts and so forth that are in them that, you know, as you ingest it, thinking you're just consuming your natural food and nutrition and good quality nutrition that unfortunately can do harm to you.

00:55:59.000 Well, it's admitted that almost every town and city in the U.S., when they test the public, has atrazine in them that is the second most used herbicide.

00:56:09.600 And that completely bends gender across the board.

00:56:13.760 Male or female, if you feel like you're suffering from your brain fog, lack of energy, inability to move the scale, good or bad, meaning down to weight loss or good up to trying to gain muscle.

00:56:25.540 If your sexuality with your partner is not where you want it to be, if you're having other issues in the sexual phase, just understand that your hormones are a huge play in the body.

00:56:35.900 I mean, at the end of the day, the endocrine system is vastly being used to manipulate our days as we go.

00:56:42.860 And the thyroid, as well as basic testosterone levels in male and females, are definitely having a great impact.

00:56:49.760 And I think knowing where you stand with those and making sure that they're well-situated is extremely important to your daily activities and your daily interactions.

00:56:58.540 Mood is greatly affected by both as well.

00:57:01.820 And then knowing that there are alternatives to hormones in addition to, which is the peptides.

00:57:09.560 I think one of the most prominently used ones, I mean, it's been used for more than 20 years,

00:57:13.920 NAD is just a wonderful peptide for increase in energy, decrease in brain fog and improvement of longevity.

00:57:22.280 And I think, you know, between that and glutathione, you know, with the anti-inflammatory aspects of it is hugely helpful to people's common daily issues.

00:57:31.860 Again, as a 47 year old male, we all deal with certain complexities of life just as of age and not doing anything extensive as far as like athletics and so forth.

00:57:41.880 as a young man, you have natural aches and pains, back pain, knee joint pain, etc.

00:57:48.040 These are things that are able to help you live a better quality of life rather than struggling

00:57:52.800 through those type of things. And I think knowing that you have so much energy availability still

00:57:57.680 left in the tank, even at 50, 60 years old, it's something that could be greatly used. And I hope

00:58:04.600 that you all know about it so that you guys can seek the resources to get those things.

00:58:08.240 You've got to get exercise.

00:58:09.540 You've got to stop being sedentary.

00:58:10.720 You've got to get real, non-processed food, a lot of protein, a lot of high-quality vitamins and minerals.

00:58:16.760 And then if you get the right hormones, you're off the races and you're back to what we used to be,

00:58:20.560 being Steve McQueen and John Wayne.

00:58:23.300 But I'm not a scientist like you or a doctor like you, but I can look it up.

00:58:26.620 You said, oh, you've seen 21-year-olds.

00:58:28.660 They admit whether you're 14 or whether you're 80, in the studies I've seen,

00:58:33.440 it's over half a cut of whatever you're supposed to be at that age.

00:58:36.800 It's over 50%.

00:58:38.180 Yes, there's such a vast world that is developing in the health and wellness space,

00:58:41.980 proactive space, that it is unreal.

00:58:46.100 And it's ever-evolving and it's truly exciting to be not only-

00:58:48.820 Dr. Joe Palumbo, we are so excited.

00:58:51.660 The adventure begins now.

00:58:53.340 Incredible.

00:58:54.040 Thank you so much for coming on.

00:58:57.280 FreedomRxHealth.com.

00:58:58.280 The adventure begins now.

00:58:59.240 Thank you so much, sir.

00:59:00.900 Thanks, Alex.

00:59:01.560 Have a great day.

00:59:02.200 Appreciate you.

00:59:02.800 Knocked it out of the park, doctor.

00:59:03.920 Thank you.

00:59:06.520 You

The Alex Jones Show Live - September 17, 2026

Former BlackRock Analyst Edward Dowd Tears Apart The AI Doomsday Narrative Being Sold To Americans!

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