Today on the Charlie Kirk Show, we unpack his visit to the White House, King of Kings, and where is all of the money that the Federal Reserve is saying they borrowed to the Treasury? Very complex but important topic of how the government lies to you financially, and if we audited the Fed, gotta wonder what would happen?
00:00:05.000We talk about the movie King of Kings, and where is all of the money that the Federal Reserve is saying that they borrowed to the Treasury?
00:00:13.000Very complex but important topic of how the government lies to you financially.
00:00:18.000And if we audited the Fed, gotta wonder what would happen.
00:00:20.000Email us, as always, freedom at charliekirk.com.
00:00:50.000His spirit, his love of this country, he's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA.
00:00:58.000We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.
00:01:11.000Noble Gold Investments is the official gold sponsor of The Charlie Kirk Show, a company that specializes in gold IRAs and physical delivery of precious metals.
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00:01:37.000So one of the test cases of how we know that if you are crime ridden, gang infested and of the third world, it's a choice.
00:01:45.000In the modern era with artificial intelligence, with cryptocurrency, with Bitcoin technology, access to the Internet, if your country is still living in the third world, it is by choice.
00:01:55.000Now, to get to the first world, you need some advantages.
00:01:57.000But living in the third world is a choice.
00:01:59.000You can enter the second world by simply making good choices.
00:04:36.000For 40 years, we have lost manufacturing capacity.
00:04:39.000Workers have seen their wages stagnate.
00:04:41.000And some of the most critical things that we need from the pharmaceuticals, the drugs that we give to our children, the antibiotics that we give to our kids, to the weapons that we actually need to fight a war, if, God forbid, we had to fight a war, we don't make enough of that stuff.
00:04:55.000And so President Trump ran explicitly on changing that.
00:04:59.000Yes, as the president mentioned, caused a little bit of disruption in the market.
00:05:02.000But I actually think over the long term, workers are going to benefit, stocks are going to go up, American businesses are going to benefit as we reinvest and reindustrialize our country.
00:05:10.000But according to Janet Yellen, that's not possible.
00:05:26.000Perhaps it's to bring back American manufacturing, but I really think that's a pipe dream and not something that is likely to be accomplished.
00:05:39.000And we could even raise questions about whether or not, in a broad-based way, that's a desirable goal.
00:07:30.000Do you know that we are financing private banks?
00:07:33.000How much money are we actually giving to private banks?
00:07:37.000Well, Brian Westbury is the chief economist of First Trust LP, former chief economist of the Joint Economic Committee for U.S. Congress, and current member board of the Trustees for Hillsdale College.
00:07:58.000I'm not even quite sure how this all works.
00:08:00.000All I understand is that the U.S. taxpayer is funding private banks.
00:08:03.000Yeah, Charlie, it's great to be with you.
00:08:08.000This all started really back in 2008 when Ben Bernanke walked into...
00:08:16.000W's office and said, hey, if you don't let me print $4 trillion and flood the financial system with that money, the whole global world order is going to collapse.
00:08:53.000If you have a $100 bill in your wallet, 67 of those dollars were created in just the last 18 years.
00:09:02.000Like, that's how much money we printed.
00:09:04.000Now, when all of that money goes into the banking system, it turns into inflation.
00:09:11.000And the way the Fed stopped it from turning into inflation is first, they raised a ton of regulations on banks.
00:09:20.000And second, they paid banks to hold that money.
00:09:25.000So we are now paying banks about $200 billion a year to not lend that money out.
00:09:31.000That means we're paying private banks.
00:09:34.000Now, the interesting thing is the Fed bought bonds with that money, and so they earn interest from those bonds, but they're paying banks more than they're earning.
00:10:52.000I don't know how they're paying their employees.
00:10:55.000I don't know how they're keeping their lights on.
00:10:57.000Because if you run a private business in a deficit, you either have to raise more equity or debt or something in order to pay to keep the lights on.
00:11:08.000And so my belief, and the Fed won't really tell you this, is that they're borrowing money from the Treasury in order to keep the lights on.
00:11:16.000In Britain, The UK, they did the same thing.
00:11:20.000And now they're kind of caught because it's raising their deficit, but at least they're accounting for it the right way.
00:11:30.000And so I can only imagine that Elizabeth Warren doesn't understand that we're paying private banks $200 billion a year because I think she'd have a cow if she knew that.
00:13:04.000When they created $4 trillion under Bernanke and then another $4 trillion under Powell, they bought bonds to put on the Fed's balance sheet.
00:13:15.000And interest rates were super low when they did this.
00:13:19.000So when interest rates went up, They actually lost money on their portfolio.
00:13:24.000Right now the Federal Reserve has a trillion.
00:13:27.000Dollars of losses on its bond portfolio.
00:13:31.000And it's all because they bought bonds when interest rates were low, and now interest rates have gone back up.
00:14:59.000It's a negative number, and they promise that they're going to pay the Treasury that money back when they start making a profit again in the future.
00:15:09.000So in return for that promise, the Treasury is now funding the Fed.
00:15:16.000And and what's interesting about this is Congress did not agree to this.
00:15:21.000Congress did agree to let the Fed pay interest to banks, but they did not agree that the Fed, the Treasury could lend the Fed this money.
00:15:31.000And so I actually think there's a lawsuit here.
00:15:34.000I mean, how is this any different than Enron?
00:15:37.000I mean, this is a massive accounting scandal, isn't it?
00:15:41.000Well, to me it is, and nobody focuses on it.
00:15:44.000And, you know, what's fascinating is you go in every month or every, well, every time the Fed meets, it's like eight times a year.
00:15:51.000They have a press conference, and there's 30 reporters that are handpicked by the Fed to come in, and no one will ask them how they're paying to keep the lights on.
00:17:04.000You can save babies by providing ultrasounds with pre-born.
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00:17:17.000Your gift of pre-born will give a girl the truth of what's happening in her body so that she can make the right choice.
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00:18:46.000The Congress started the Fed in 1913, changed the law again in 1973, and then we changed it again about...
00:18:57.00010 years ago, and then Congress also gave the Fed this ability to pay banks' interest on reserves.
00:19:05.000So Congress has a big role in this, and the problem is that most Congress people, ever since Paul's father left, don't really understand monetary policy, and therefore they get...
00:19:21.000flummoxed in these hearings and they don't know enough about it to ask the right questions or to do the right
00:19:29.000So therefore, if Congress is not even willing to engage, I suppose we're going to keep on participating in this funny math.
00:19:39.000And is there anything preventing the Federal Reserve from another capital influx of created trillions of dollars?
00:19:57.000The only thing that keeps the Fed in check really is, I mean, Congress has oversight, but it's really the public.
00:20:04.000And inflation, when it came, it was all because of this policy.
00:20:09.000And yet, like, so many people have ignored that.
00:20:14.000When you explode the money supply, like they did during COVID especially, that's where inflation comes from.
00:20:22.000You print so many dollars that the value of the dollar goes down.
00:20:27.000You know, people say pizza costs more, and I'm a geeky economist, and I say to them, your pizza doesn't cost any more, your dollar buys less, because we printed too many of them.
00:20:39.000And now what's happening is the Powell, every member of the Fed, especially the chairman, they're politicians.
00:21:46.000I mean, if you just look back at COVID, you know, supposedly, gosh, all the arguments were COVID hits the lower class more than the upper class and certain groups of people more than others.
00:21:58.000And so we have to fix this and make things more equal.
00:22:01.000So we ended up running these massive budget deficits.
00:22:05.000We ended up printing all of this money.
00:22:10.000Opposite of what they said was going to happen.
00:22:12.000If you had assets, if you own equities, if you own a house and inflation comes along and they print all this money, you win.
00:22:20.000If you don't have assets, you get crushed.
00:22:25.000And so I hope that Scott, in that quote, and the Trump administration really does find a way to keep the Fed from ever doing this again.
00:22:36.000And in fact, I think they ought to shrink the Fed quite a bit and take away the power.
00:22:42.000We didn't even talk about the fact that the Fed somehow is able to fund climate change research, that the Chicago Fed is doing work on lead water pipes.
00:24:56.000The movie's based on Charles Dickens' book.
00:24:59.000That he wrote for his kids, and it wasn't published until 65 years after Charles Dickens had passed away.
00:25:06.000And what it is, is it's a look at Jesus' life from the perspective of a young child, where Charles Dickens is explaining to his child the story of Jesus Christ.
00:25:18.000This movie has blown up in the box office.
00:25:21.000It was number two this last weekend, did $19.3 million over the weekend, which is just...
00:25:26.000$400,000 less than Sound of Freedom did in the first three days.
00:25:33.000Forbes just posted that it lands one of the best audience scores in history.
00:25:40.00097% with audiences on Rotten Tomatoes, about 64% with critics.
00:25:47.000A-plus cinema score with audiences, which is a cinema score of A-plus has only been done 128 times in movie history and only five times for animated films outside of Disney and Pixar.
00:27:06.000And these South Koreans, the director doesn't even speak English.
00:27:09.000He made this movie as a passion project, recruited all these amazing talent, and they did a motion capture process where you actually capture real people walking and things.
00:27:21.000So they decided to do that to bring down the cost and makes it feel more real.
00:27:28.000What they've done here, if you see the walking on water scene from this movie, there's just so many scenes in here that are gorgeous.
00:28:29.000So putting forward a faith-based film during Holy Week, is the success you're enjoying right now exceeding expectations?
00:28:38.000And educate our audience even deeper on what Angel is and what you guys seek to do with the Angel Guild.
00:28:45.000So every single movie on Angel Studios is approved by what we call the Angel Guild, which is a group of over a million people who greenlight every film on Angel Studios.
00:28:57.000So they gave King of Kings one of the highest scores we've seen, which is a 95. And so if you're part of the Angel Guild, you get a vote on every movie that comes in at Angel Studios.
00:29:06.000Then you get two movie tickets to be able to go see every movie in theaters.
00:29:11.000And so we have this group of over a million people.
00:29:15.000As a Guild member, you get to approve.
00:29:17.000I can't, as a co-founder of Angel, I can't even take a movie into Angel Studios unless it first passes the Angel Guild.
00:29:23.000And so today, if you go sign up for the Angel Guild and you get to vote on future movies, you get two movie tickets to King of Kings today at angel.com slash...
00:29:38.000We chose the shorter, easier to spell one.
00:29:40.000Yeah, so if you go to angel.com slash Kirk and you join the Angel Guild right now, you get two free movie tickets to King of Kings this week for Holy Week.
00:29:49.000And then you get a vote on all future movies that come into Angel Studios.
00:29:53.000We believe that there's this brokenness in Hollywood that's coming from not the filmmakers, not the craftsmen, not the actors, but it's primarily coming from the gatekeepers, which is a group of like a couple dozen people that are making all of the decisions of all the movies that go into Hollywood.
00:30:10.000And we're replacing that with this guild.
00:30:12.000Yeah, and just so everyone understands that if you join the guild today, Angel.com slash Kirk, as a premium member, you get two free tickets to King of Kings and every other Angel studio film.
00:30:23.000But also, you guys have so much more that you guys have developed for families with Angel.com.
00:30:31.000Talk about the entire library and depth that you guys have at Angel.
00:30:36.000The movies you're going to see at Angel.com.
00:30:38.000So we have the Total Twins series, which is a series about these two twins with their grandma Gabby, who has a time-traveling interdimensional wheelchair.
00:31:02.000These twins are learning and your kids get to learn with those kids.
00:31:06.000Then there's other films like The Sound of Freedom from a couple years ago to the Homestead series that just came out, which launched at Christmastime, Homestead with Neil McDonough.
00:31:21.000There's The Winged Feather Saga, which is a fantasy series based on the best-selling book, The Winged Feather Saga by Andrew Peterson.
00:31:42.000Films and TV series that represent our values as families and Middle America's values because it's voted on by the Angel Guild.
00:31:51.000And so you see this level of quality that's coming in.
00:31:55.000And as you watch Angel movies, you're going to realize that They're just hit after hit of satisfying, satisfying movies because they have to pass this threshold that's very difficult to pass getting voted on by the Angel Guild.
00:32:11.000And congratulations, I just want to say on behalf of the entire audience, for bringing the gospel message to a mainstream audience during Holy Week.
00:35:45.000And his courage to come out to support President Trump was admirable.
00:35:48.000However, it says here, 27% of people who voted for President Trump say they listened to the Joe Rogan experience, while 19% of Trump voters say they listened to the Charlie Kirk show.