The Charlie Kirk Show - March 15, 2022


They Are Collapsing the Dollar


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Length

36 minutes

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163.1694

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5,972

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406

Harmful content

Misogyny

4

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4

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Hate speech

16

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Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

The U.S. Dollar is deteriorating, and there is a little piece of news that you might not have seen that is heavily impacting the future of the United States Dollar as the world's reserve currency. We talk about that and so much more on today's episode of the Charlie Kirk Show.

Transcript

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Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
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00:00:00.000 Hey everybody, today at the Charlie Kirk show, the U.S. dollar is deteriorating, and there is a little piece of news that you might not have seen that is heavily impacting the future of the United States dollar as the world reserve currency.
00:00:15.000 We talk about that and so much more.
00:00:16.000 If you want to get involved with Turning PointUSA, go to tpusa.com.
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00:01:01.000 Buckle up, everybody, here.
00:01:03.000 We go.
00:01:03.000 Charlie, what you've done is incredible here.
00:01:05.000 Maybe Charlie Kirk is on the college campus.
00:01:07.000 I want you to know we are lucky to have Charlie Kirk.
00:01:10.000 Charlie Kirk's running the White House, folks.
00:01:14.000 I want to thank Charlie.
00:01:15.000 He's an incredible guy.
00:01:16.000 His spirit, his love of this country.
00:01:18.000 He's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA.
00:01:24.000 We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.
00:01:33.000 That's why we are here.
00:01:36.000 Brought to you by the Loan Experts I Trust, Andrew and Todd at Sierra Pacific Mortgage at andrewandTodd.com.
00:01:45.000 I want to get to a story that has just come across the radar in the last couple of hours that you might not expect us to lead with, but it's one of the most important stories that the mainstream media will kind of gloss over, but it ties into what's happening in Russia and Ukraine, and it has a direct impact with the purchasing power of our currency, a direct impact with your livelihood, your savings, your property,
00:02:12.000 has a direct impact with everything that you deal with.
00:02:18.000 So part of the global world order that we live under post-World War II is the idea that America will protect the sea lanes, America will keep peace in the continents, and in exchange, the world will use the dollar as the world reserve currency.
00:02:37.000 So this idea of globalism has been kind of half-tried, if you will, many times.
00:02:44.000 The League of Nations by Woodrow Wilson, it was tried and failed miserably.
00:02:49.000 The United Nations was a feeble attempt.
00:02:53.000 Now, when we talk about the global order that was established in post-World War II, let's say post-World War II geopolitics, the world was a very, let's say, damaged place.
00:03:08.000 The world, in more ways than one, had difficulty being able to rebuild itself and to bring itself out of the not just the troubles, but the widespread carnage that occurred because of the Axis versus the Allies conflict.
00:03:27.000 So as a solution, Dwight D. Eisenhower and many others came up with a plan that because the United States dollar was so strong, because all of the fighting except for a Pearl Harbor happened outside of America, and America suffered great losses in World War II, but far less losses than the 20 million civilians and army troops that died in Russia.
00:03:53.000 Far less than the 7 million people that were killed in the Holocaust, and far less than the 5 million people that were killed that were German citizens or army members, far less than the 1.8 million that were killed in Great Britain, or far less than the 1.5 million that were killed in Japan, and the industrial base of Japan was depleted, and Germany was in tatters.
00:04:15.000 So the entire industrialized world kind of looked to one country as a way to keep the world order afloat.
00:04:23.000 Instead of trying to rebuild these other currencies, we said, hey, we're going to reset those currencies.
00:04:27.000 You guys have heard that term every so often, especially right now with the Great Reset.
00:04:31.000 And we will build the entire global economy on the United States dollar.
00:04:39.000 And even the pound, as strong as it was at the time, was nowhere near the kind of confidence that was put behind the United States dollar.
00:04:48.000 And so because of this, we saw the rise in demand for energy, otherwise known as OPEC, traded in dollar bills.
00:05:00.000 If you go to OPEC's website, it shows the price of oil in dollar bills.
00:05:07.000 OPEC, of course, is the organization of patrolling exporting countries.
00:05:11.000 It was founded in September of 1960 as part of this global order.
00:05:16.000 Now, many of the meetings happen in Vienna, Austria, as you know, as we've talked about in great detail.
00:05:21.000 That's kind of the centerpiece of that.
00:05:23.000 If you go to OPEC's website and you go through actually how they measure the value of oil, it's always in dollars.
00:05:30.000 Now, the United States being the world reserve currency is a shot of confidence for us to be able to spend money we don't have.
00:05:39.000 Our debts and our deficits are largely financed on the confidence that when it comes down to it, the world knows that the American dollar is unbreakable, or at least was unbreakable.
00:05:51.000 Now, part of the reason why people have so much confidence in the United States dollar is because of our extraordinary military.
00:05:57.000 When it comes down to it, having 12 aircraft carriers, that'll instill a lot of confidence in your currency.
00:06:03.000 Having intercontinental ballistic missiles that can come down to a millimeter of accuracy, that'll give some people some confidence in your currency.
00:06:11.000 Having the Marines, the Navy SEALs, our amazing military, that makes the world look in awe and say, hey, I'll convert my irrelevant Egyptian currency to a dollar.
00:06:24.000 I'll convert my Ukrainian currency to a dollar.
00:06:29.000 And also, not to mention, the United States has private property rights.
00:06:32.000 We were energy independent for a while.
00:06:35.000 We had an entrepreneurial base that would create wealth, the likes of which the world has never seen.
00:06:40.000 And so, for all of these factors, over the last 40 and 50 years, no one really questioned the fact that the United States and our dollar was where people went to feel safe.
00:06:50.000 We were the place for the flight to safety.
00:06:52.000 When things started falling apart, people would always grasp on dollar bills.
00:07:00.000 It's like, all right, no matter how rough the seas get, no matter how difficult things become, I know that the United States will remain constant.
00:07:10.000 So there's a story that just popped up that many people are going to kind of gloss over.
00:07:16.000 But if this actually goes through, if this happens, it will be a death shot to the United States dollar, to your purchasing power, to the stability of our currency, to our economy as we know it.
00:07:31.000 It very well could be a financial Pearl Harbor, and I am not exaggerating.
00:07:37.000 Quote, Saudi Arabia, the largest oil-producing country in the world, is now considering accepting the won instead of dollars for Chinese oil sales, the Wall Street Journal reports.
00:07:52.000 What does this mean?
00:07:54.000 This means that China will now no longer have to convert their currency into dollars.
00:08:01.000 They can bypass the World Reserve Currency System to go buy the oil they need to be able to energize their 1.3 billion person economy.
00:08:12.000 If this gets done, this will sow dissension.
00:08:15.000 This will make America no longer the place for the flight to safety.
00:08:20.000 Instead, you very well might see an economic collapse, a financial Pearl Harbor where people say, wait a second, what is the strength of the U.S. dollar again?
00:08:29.000 Okay, you got some tech companies.
00:08:31.000 You guys aren't energy independent anymore.
00:08:34.000 You have more debt than you have assets.
00:08:38.000 Your military is not what it used to be.
00:08:40.000 You guys are afraid to use it.
00:08:41.000 You guys couldn't even pull off Afghanistan. 0.99
00:08:43.000 And understand, all these play into one another.
00:08:46.000 The embarrassing withdrawal of Afghanistan and the $85 billion of weapons we gave to the Taliban.
00:08:54.000 Our inability to deter Vladimir Putin from invading Ukraine.
00:09:00.000 Our inability to hold China accountable for the biological weapon pathogen, otherwise known as the Chinese coronavirus, spread across the world. 0.96
00:09:08.000 Our complete and open southern border, double-digit inflation.
00:09:12.000 Every time you see double-digit inflation, the United States dollar gets weaker.
00:09:17.000 And the smart people in China know this.
00:09:19.000 Seceding the dollar, or seeding the dollar, I should say, to the one is how the CCP wins the war without ever firing a shot.
00:09:32.000 All of the sanctions that we're putting on Russia hinge on us being the world currency.
00:09:37.000 And Vladimir Putin is maybe chuckling right now.
00:09:39.000 Oh, you Americans think you're so smart.
00:09:42.000 What happens when China says we don't need U.S. dollars anymore?
00:09:47.000 Who's going to follow?
00:09:49.000 What other countries are going to say, yeah, we don't need the world reserve currency anymore?
00:09:54.000 Federal Reserve Chairman Jerome Powell says, look, there's room for multiple reserve currencies.
00:10:01.000 Your own head of the Federal Reserve is saying, hey, we can destroy the U.S. dollar.
00:10:06.000 It's not like it helps any of you.
00:10:09.000 This is one of the most shocking stories that I've seen in the last couple of years.
00:10:14.000 You might see the destruction of the United States as the world dollar, and the world reserve currency, that means like 80% of your value could disappear overnight.
00:10:21.000 And I'm not exaggerating.
00:10:24.000 So much of the wealth in America is built on the confidence, is built on the fiat, the belief.
00:10:31.000 What happens when that belief deteriorates?
00:10:34.000 It'll make the 1920 bank runs look like a dress rehearsal.
00:10:43.000 Now The Economist, Financial Magazine, and newspaper has said the stock market lost over a trillion dollars so far this year.
00:10:50.000 You heard that right?
00:10:50.000 A trillion dollars.
00:10:51.000 Facebook has fallen out of the top 10 of tech stocks, and all the markets have the jitters.
00:10:56.000 Like you people are really worried.
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00:11:37.000 The Bretton Woods Agreement happened in 1944 in New Hampshire.
00:11:44.000 Essence of the agreement.
00:11:46.000 It was the beginning of the idea of exploring that we have these different countries, 44 allied countries, and we need to come up with a system to manage foreign exchange that would not disadvantage any country.
00:12:00.000 The delegation decided that the world's currencies would no longer be linked to gold, but could be pegged to the United States dollar.
00:12:08.000 So, look, the idea of getting off gold was one of the worst ideas ever explored by the United States government.
00:12:18.000 Now, I'm not going to tell you to go buy gold or silver.
00:12:20.000 That's not the point of this.
00:12:21.000 But the point is that gold, there's only a finite amount of gold.
00:12:24.000 You can't make more of it.
00:12:26.000 Therefore, your dollars must be humble.
00:12:31.000 Meaning, you cannot create more dollar bills.
00:12:34.000 It must be tied to something permanent.
00:12:38.000 Now, of course, in 1914, we saw the creation of the Federal Reserve.
00:12:43.000 It was the Federal Reserve Act.
00:12:45.000 The first U.S. dollar was printed in 1914.
00:12:49.000 Now, part of the reason why this happened in 1914 was, of course, because of Woodrow Wilson.
00:12:56.000 Woodrow Wilson, former president of Princeton University, became governor of New Jersey, and in many ways was an accidental president.
00:13:04.000 Woodrow Wilson, I believe, won the election of 1912, where Teddy Roosevelt ran of the Bull Moose Party, also against incumbent President William Howard Taft, and split the vote.
00:13:16.000 And Woodrow Wilson became president with a plurality, but not a majority of the vote.
00:13:21.000 Woodrow Wilson was a radical.
00:13:24.000 He was a legitimate progressive.
00:13:26.000 Woodrow Wilson was the first American president ever to say the founding fathers were wrong.
00:13:33.000 Basically, Woodrow Wilson said, we are so advanced with our industry, our science, and our technology that it's time to turn the page from the founding fathers of the past.
00:13:43.000 I'm paraphrasing.
00:13:44.000 I don't think he was that blunt.
00:13:45.000 But basically, he said, we are now entering a new era, an era of scientific inquiry, an era of historic exploration.
00:13:53.000 Now, big government ideas, the great society, Medicare, Social Security, foreign wars, $80 billion of unaccounted budgets to the CIA, all of those things are very difficult to finance if you have to have a dollar bill that is tied to a finite standard.
00:14:16.000 So the question you should always ask in currency is, by what standard is your currency tied to?
00:14:22.000 By what standard?
00:14:24.000 Now, as we got off of the gold standard, it just didn't happen overnight, by the way.
00:14:30.000 It was many years coming.
00:14:32.000 In fact, it was decades of work to get us off of the gold standard.
00:14:37.000 So as we continued this transition, it became irresistible.
00:14:42.000 The temptation was unavoidable for politicians to say, hey, if we can kind of just create money out of thin air and we're not tied to a gold standard, why don't we just get the Federal Reserve to lower rates a little bit every single time the economy goes bad?
00:14:57.000 I mean, we can just kind of loosen the joints a little bit.
00:15:01.000 So what happened, of course, is post-Depression era in the 1920s is Franklin Delano Roosevelt went all in on indulging this idea of cheap money.
00:15:12.000 Cheap money, widespread levers of currency manipulation allowed the Great Society program to be expanded.
00:15:21.000 However, the real, let's say, argument for the fiat currency came after Pearl Harbor.
00:15:31.000 When all the people in charge said, see, see how thankful we are that we're not on a gold standard?
00:15:36.000 Now we can borrow as much as we want and create as much money as we want to create planes, to create aircraft carriers, to create munitions, to create supply lines, to create parachutes, whatever we need.
00:15:47.000 But then the war ended.
00:15:50.000 And the idea, the justification for the continuation of a fiat currency became harder and harder to be able to square until all the nations of the world depleted, starved, demoralized, came to a strong America and said, all right, we're going to put our bets on you.
00:16:09.000 We are going to put our eggs in the United States dollar basket.
00:16:13.000 But in exchange, you have to police the sea lanes.
00:16:16.000 You have to build bases on our continents.
00:16:18.000 And if there's a problem, the Americans better show up.
00:16:20.000 And we signed the deal.
00:16:21.000 We said, fine, you got it.
00:16:24.000 Now, we're going to explore further the history of this and then the real world implications.
00:16:29.000 What happens when all of a sudden, if the richest countries outside of America say, yeah, we don't want to use the dollar anymore?
00:16:34.000 What does that mean?
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00:17:46.000 Most Americans have not experienced a currency reset.
00:17:50.000 You wouldn't have unless you're 190, 109, and you remember what happened back then.
00:17:57.000 That our dollar has been so constant, our dollar has been so strong, our dollar has been so, let's say, exceptional for years that we haven't really thought much about it.
00:18:13.000 Well, our dollar bill is not based in anything.
00:18:15.000 It's based purely on the full faith and credit of the United States government.
00:18:20.000 So in simple economics, we know that dollars or money replaces the barter system.
00:18:28.000 So the barter system is very inefficient.
00:18:32.000 And also, it does not allow the needs and wants problem to be solved.
00:18:36.000 So for example, if producer Connor is a chicken farmer and he wants to be able to trade with me, but I don't want chickens and I'm a cantaloupe farmer and we want to be able to trade chickens for cantaloupes, but he doesn't want cantaloupes and I don't want chickens, then we can't trade together.
00:18:54.000 The other problem is that Connor has to sell his chickens before they perish.
00:18:59.000 So he has to find a buyer of chickens in time.
00:19:03.000 Dollar bills or value solve all of these problems, right?
00:19:07.000 So I can convert my cantaloupes to dollars and then I can go to Connor and trade for chickens or whatever else he might have.
00:19:14.000 So it's a replacement and it also allows perishing goods such as time and talent and things that you put on shelves that decrease with value over time, such as pastries or whatever, things that have expiration dates, you can immediately capture the value in an instant because then it becomes somebody else's responsibility.
00:19:32.000 By definition, it makes an economy 100, 200, 300 times more efficient almost immediately.
00:19:38.000 But it only works if you trust the piece of paper that is replacing the value itself.
00:19:45.000 It only works if you trust the piece of paper that you are exchanging cantaloupes for paper for or chicken for paper for.
00:19:52.000 As soon as that dollar bill, people look at it and say, wait a second, there's too many of those out there.
00:19:59.000 It's not that hard to go find those.
00:20:01.000 They're abundant.
00:20:02.000 They don't mean a lot.
00:20:03.000 That's inflation, by the way.
00:20:05.000 That's why prices go up.
00:20:06.000 When there's dollar bills everywhere and everyone has money, that's all of a sudden when you start to see hotel rooms go to $2,000 a night, which is what you're starting to see in some higher-end hotels across the country.
00:20:18.000 You start to see airline tickets from New York to San Diego go to $1,200 a ticket.
00:20:26.000 If everyone has dollar bills, they don't mean as much as they once did.
00:20:32.000 Now, the threat of the United States no longer being the world reserve currency, especially the petrodollar, is that I truly believe a major factor of our inflated stock market, a significant factor of the wealth that we enjoy, is speculative.
00:20:53.000 Who knows how much of the economy of that actually is?
00:20:57.000 But if the rest of the world starts to have a run, not on banks, but a run on America, and they say, wait a second, we want our money back.
00:21:06.000 We're going to go invest in the won or we're going to go invest in crypto.
00:21:11.000 What will that do for American domestic investment?
00:21:14.000 What will that do for your dollar?
00:21:16.000 How much of the stock market gains of the last couple years has just been a flight to safety to America itself?
00:21:23.000 So as Saudi Arabia comes out and they say, look, we might now accept the won instead of the dollar, that means the intermediary of America being necessary for international finance could very well crush the American economy as we know it.
00:21:38.000 All of this ties together.
00:21:41.000 You see, all of this is happening.
00:21:43.000 It's triggering a course of events because Vladimir Putin decided to illegally and immorally invade Ukraine.
00:21:51.000 So Putin invades Ukraine, and our reaction to it very well might determine the future of the American economy and our currency.
00:22:01.000 So if we want to continue to escalate the conflict in Ukraine, we have to be willing that other bad actors and the new marriage made in heaven or hell between China and Russia very well might now bypass the dollar as being necessary for trade and commerce. 0.57
00:22:20.000 So Lindsey Graham is on television banging the regime change drum against Putin. 0.99
00:22:25.000 Now, I want everyone to ask yourself this question because we have a lot of listeners on every side of this topic, and we have obviously been on the side of we must be very careful if we want to get involved in Ukraine at all for many reasons we've outlined.
00:22:41.000 But one of the questions I have for all of us listening right now, all you listening right now, is Ukraine and our involvement in Ukraine worth losing our status as the world reserve currency?
00:22:56.000 If it is, then you've made your position clear.
00:22:59.000 Because getting involved in Ukraine is putting at risk the financial stability of your livelihood, of everything you love.
00:23:09.000 They are directly connected.
00:23:13.000 The more that you sable rattle against Russia, the more you take them off the SWIFT system, the more you're incentivizing long, more, let's say, more visionary dictators than our own internal bureaucrats where they say, hey, why don't we just start bypassing the dollar?
00:23:29.000 You see, why would China want to do this before I play this tape of Lindsey Graham? 1.00
00:23:33.000 Well, if China can get off America as the world reserve currency, because then we have no economic sanctions against them when they go invade Taiwan, if China can go get their oil without having to convert it to dollars, then all of a sudden they can take Taiwan and the, let's say, the countermeasure, the penalty that we can put towards China, lessens almost immediately. 0.73
00:23:56.000 So as Lindsey Graham is banging the war drum, the regime change drum against Putin, I just have a question for Lindsey Graham.
00:24:03.000 And Lindsey Graham can come on the show at any time. 0.97
00:24:05.000 We'll be very fair to him.
00:24:07.000 Is it worth it?
00:24:08.000 Are you willing to make your constituents of South Carolina 70% poorer if this goes wrong?
00:24:16.000 And our government has a tendency to make sure everything goes wrong.
00:24:19.000 Play cut 54.
00:24:20.000 But I'm going to repeat what I've been saying.
00:24:23.000 It's time for Putin to go.
00:24:25.000 For 20 years, he's been a war criminal.
00:24:27.000 He's committed war crimes in Syria and Chechnya.
00:24:31.000 He has stolen his own people blind. 0.88
00:24:33.000 We gave him a pass.
00:24:34.000 And how can you be surprised that he's in Ukraine the way that we have, as a world, given him a pass? 1.00
00:24:41.000 So I agree with a lot of what Lindsay says there. 1.00
00:24:42.000 I mean, Putin's a total scumbag. 0.99
00:24:44.000 That's not what we're talking about here. 1.00
00:24:45.000 We're not talking about giving him a pass.
00:24:46.000 We're talking about whether or not you want to destabilize the entire financial system that the American order is built on.
00:24:56.000 So meanwhile, 42 out of 50 Republican senators wrote a letter to Joe Biden calling on him to work with Poland to send Soviet-era MiG-29 jets to Ukraine to aid its defense against Russia.
00:25:06.000 The letter calls on Biden to, quote, expedite the transfer, expedite the transfer of urgently needed air power.
00:25:12.000 The eight Republican senators who didn't sign the letter are Jim Inhoff, Bill Haggerty, Jerry Moran, Rand Paul, Mike Rounds, Mike Lee, Cynthia Lemmis, and Roy Blunt.
00:25:21.000 So for the 42 Republican senators that signed that letter, I'm just asking a question.
00:25:26.000 Have you thought through the measures and the countermeasures of all of our involvement in a 5,000-mile-away distant land?
00:25:33.000 So maybe all of a sudden the argument we've been making for a couple of weeks should start to make sense.
00:25:38.000 Which is, wait a second, there might be other ramifications at play here other than just kind of a family dispute of Russia and Ukraine.
00:25:44.000 Yeah, such as China looking at this as a signal to now get rid of the U.S. dollar and your entire stock market collapsing, the currency in your back pocket being worth half as less if all of a sudden the world leaders in the petrodollar collapses.
00:25:59.000 Western hegemony, as we know it, not just America, but the entirety of the West could be collapsed over a nation that most Americans cannot pinpoint on a map.
00:26:11.000 Is that worth it?
00:26:13.000 And I mean, how many of our leaders have actually thought through all of this?
00:26:19.000 Trey Gowdy and Brian Mast, we played a little bit of this tape yesterday.
00:26:23.000 This is the longer clip of them going back and forth.
00:26:27.000 And I have a lot of respect for Brian Mast.
00:26:29.000 He's a friend of mine.
00:26:30.000 I know people in his family.
00:26:32.000 And Brian Mast said, look, we need to do more against Russia. 0.70
00:26:36.000 Okay.
00:26:37.000 Have you thought about how this might implicate or impact the U.S. dollar?
00:26:42.000 Have you really gamed that out?
00:26:44.000 Play cut 16.
00:26:46.000 Hugh, I mean, it is hard to watch those images and not want to do something more.
00:26:51.000 I mean, is it really as simple as whether the missile lands on this side of Polish boundary line or that side of the Polish boundary line?
00:27:00.000 I don't think it can be.
00:27:02.000 I don't think that's who we are as a nation that we say, well, we could see 10,000 or far more Ukrainians indiscriminately killed and we won't do a thing. 0.96
00:27:12.000 But if the hair on the head of one NATO member gets touched, we're all in, all NATO members.
00:27:19.000 That's not who we are.
00:27:21.000 And that's not good for the security of the globe.
00:27:24.000 We need to go out there and say, these are the borders.
00:27:27.000 These are the parameters.
00:27:28.000 These are the, you know, not look at this the way that Biden, they called it a gaffe in the beginning when they said Biden was looking at this in terms of whether it was a major or a minor incursion.
00:27:38.000 I think what we really know is they were planning, trying to predict that this would be a minor incursion and they could brush it off without having to do anything.
00:27:47.000 No, we need to control the things that we can control and be strong in the face of all of this.
00:27:53.000 None of it is acceptable.
00:27:54.000 None of it is proportional.
00:27:56.000 None of it is rational.
00:27:58.000 And if we try to rationalize any of it, then Putin has already succeeded.
00:28:02.000 Every one of these decisions impacts the other.
00:28:07.000 So America is negotiating in Vienna, also with the Iranians.
00:28:11.000 We've covered this.
00:28:13.000 According to the report, the talks with China over the one-priced oil contracts have been off and on for six years, but have accelerated this year as the Saudis have grown increasingly unhappy with the decades-old U.S. security commitments to defend the kingdom.
00:28:27.000 The Saudis are very angry at the United States' lack of support for the intervention in the Yemeni civil war and over the Biden regime's attempt to strike a deal with Iran over its nuclear program.
00:28:37.000 Saudi officials have said that they were shocked by the precipitous U.S. withdrawal from Afghanistan last year.
00:28:43.000 So we're negotiating with the Iranian elite, who the Saudis hate, Shias versus Sunnis. 0.98
00:28:49.000 They hate each other.
00:28:51.000 We're going to give Iran basically what they want. 0.99
00:28:53.000 Why?
00:28:53.000 Because we want oil.
00:28:54.000 Why?
00:28:54.000 Because we won't drill our own oil in the Permian basin of the Balkan Shale.
00:28:57.000 Why?
00:28:58.000 Because Greta Thunberg basically is running our entire energy policy. 1.00
00:29:01.000 Why?
00:29:02.000 I don't know.
00:29:03.000 Figure that one out.
00:29:05.000 Because the ideology has captured the entire philosophy of our elite.
00:29:10.000 So Saudi Arabia is like, okay, wait a second. 0.88
00:29:12.000 You're giving Iran whatever they want and you want us to go bail you out because you guys are so weak. 1.00
00:29:17.000 Yeah, we're going to go deal with the Chinese. 1.00
00:29:19.000 Thanks for shopping.
00:29:21.000 The whole world is basically seeing Biden and his entire regime as feckless and unserious.
00:29:27.000 So every other country is now going into self-preservation mode.
00:29:30.000 Every country.
00:29:31.000 Saudi Arabia is like, okay, we can't trust America.
00:29:33.000 We'll go to China because maybe China will help us against Iran. 1.00
00:29:38.000 Every one of these decisions impacts the other.
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00:31:01.000 For every action, there's an equal and opposite reaction.
00:31:04.000 And sometimes an action can cause a change, a course of events or a change of the way of life.
00:31:12.000 Sometimes things can escalate out of control, and not just in the kinetic war sense, but also in the financial sense.
00:31:21.000 So now we're seeing China and Saudi Arabia potentially wanting to do deals outside of the U.S. dollar.
00:31:27.000 It would basically indict and jeopardize the petrodollar as we know it.
00:31:31.000 Jerome Powell is coming out and basically playing into this, saying, look, there might be another world reserve currency sometime soon.
00:31:39.000 Now, when I got started with Turning Point USA 10 years ago, I started to speak all across Chicago Tea Party meetings with many good friends, some of whom are listening right now, and we were warning about the national debt.
00:31:54.000 10 years ago, back in 2012, we were worrying about our then $12 trillion debt, that America would lose the ability to be able to have a strong dollar, and therefore the purchasing power of the everyday American would disappear, and our ability to be able to apply sanctions or to be able to protect the American worker would deteriorate.
00:32:17.000 The U.S. national debt, as I look at it right now at usdebtclock.org, is $30.3 trillion.
00:32:23.000 We've talked about the debt relentlessly here on this program.
00:32:28.000 I'm a massive admirer of President Donald Trump.
00:32:31.000 However, I've said many times that the deficits that he ran, I think, were the most regrettable part of his presidency.
00:32:37.000 We should stand for balanced budgets at every single term.
00:32:40.000 Balanced budgets for families, balanced budgets for churches, balanced budgets for cities, balanced budgets for nations.
00:32:45.000 Why?
00:32:46.000 Because we live on team reality.
00:32:48.000 We don't believe in indebting people in future generations that have a lower standard of living.
00:32:53.000 It is a moral argument.
00:32:56.000 In fact, if we want to make sure that children aren't exposed to Drag Queen Story Hour, if we want to make sure that children aren't exposed to these ridiculous ideas in classrooms in Florida of the kind of perverse grooming, then that sort of impulse to want to make sure your kids are protected should also try to drive you to make sure that you balance our budget.
00:33:18.000 But we're not.
00:33:20.000 We are borrowing this year $2.6 trillion.
00:33:26.000 That's just our deficit.
00:33:27.000 That's our annual spend.
00:33:29.000 That's our annual burn rate, I should say.
00:33:33.000 The U.S. federal tax revenue will be $4.1 trillion, which is about $12,356 of taxes per citizen.
00:33:42.000 I'm definitely paying my fair share.
00:33:44.000 It's a little more than that.
00:33:46.000 And the U.S. federal spending is $6.7 trillion.
00:33:50.000 So all of this plays together.
00:33:52.000 How?
00:33:52.000 Well, it's because as we borrow against ourselves and we are not as strong financially or fiscally, all of a sudden we lose leverage to then call the Saudis and say, cut it out.
00:34:05.000 We're kind of now more in a groveling position where we're now not able to tell the Saudis to cut it out to do deals with the Chinese. 0.59
00:34:13.000 Need I remind you the very same Chinese that infected the entire world with a pathogen from their laboratory and lied about it and covered it up and came out stronger and richer than ever before that killed 800,000 of our citizens and millions of people across the world. 1.00
00:34:27.000 Yeah, that China.
00:34:30.000 But now the Chinese Communist Party is starting to see, huh, the dollar is not once what it was.
00:34:34.000 They have double-digit inflation domestically in America.
00:34:39.000 And if we want to be able to take Taiwan, if we want to be able to flex the muscle of our Belt and Road Initiative, we have to go build a separate highway outside of America, a separate transfer portal to be able to exchange U.S. dollar bills, get rid of that, and change the won for oil.
00:35:02.000 The generational theft that is embedded in the deterioration of our dollar is now playing out in world and geopolitics.
00:35:14.000 And amazingly, the straw that broke the camel's back, the moment that is now revealing all of this is not just the Chinese coronavirus, but it's our willingness to go get into a war 5,000 miles away and not having the mature leaders to ask the question, what's the cost, and just sit down in a room with a whiteboard with your phones off and say, huh.
00:35:40.000 Putin's probably not dumb.
00:35:42.000 So if we do this and we sanction him, he's going to do that. 0.84
00:35:46.000 And then China might do that.
00:35:48.000 And then we don't have the dollar.
00:35:50.000 Has any leader done that?
00:35:52.000 Has any one of the people running the decision-making process or apparatus in our government sat down like a mature, wise, or prudent individual and thought this through beyond the immediate tweet, beyond the immediate passionate one-liner?
00:36:09.000 Our leaders are flirting with destroying the U.S. dollar permanently.
00:36:15.000 And most Americans have no idea it's actually happening.
00:36:20.000 Thanks so much for listening, everybody.
00:36:21.000 Email us your thoughts as always freedom at charliekirk.com and get involved with Turning PointUSA at tpusa.com.
00:36:27.000 Thank you so much for listening, everybody.
00:36:28.000 God bless.
00:36:32.000 For more on many of these stories and news you can trust, go to CharlieKirk. com.