The Great America Show - CHINA’S BLOOD MONEY

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00:00:33.720 Hello, everybody. I'm Lou Dobbs.

00:00:35.940 Welcome to The Great America Show, and thank you for being with us.

00:00:39.580 It's a new week in America and a new Chinese spy balloon. 0.94

00:00:43.200 Commercial fishermen in Alaska over the weekend retrieving what appears to be another spy balloon off the coast of Alaska.

00:00:52.340 The fishermen were instructed to bring the debris ashore and meet with FBI agents awaiting them.

00:00:57.840 The balloon was transported to Quantico, Virginia for further testing.

00:01:02.380 And I'm pretty sure we'll never hear another word about it ever, ever again.

00:01:07.260 We'll see.

00:01:07.880 Marxist special counsel Jack Smith may be in trouble, and his fellow Marxists are beginning to catch on.

00:01:15.060 Take, for example, Andrew Weissman.

00:01:17.440 He worked for special counsel Robert Mueller as a prosecutor, turned MSNBC contributor,

00:01:24.340 who says the Supreme Court has given Trump a win by taking up President Trump's immunity claim.

00:01:30.420 He says Smith's case is now on life support.

00:01:33.920 And I think he's right.

00:01:35.440 Here's Weissman.

00:01:36.280 I'm very pessimistic.

00:01:37.560 I do not have the view that they took this case because they're going to hand out a win to Donald Trump in the Colorado case.

00:01:44.540 But here they're going to essentially give him a defeat by saying there is no presidential immunity in this case.

00:01:51.120 Yes, of course, I think ultimately they will not grant immunity in this case.

00:01:55.700 But they have given him the win because the D.C. case, let's just face it, is on life support now.

00:02:01.960 It is really, really hard to figure out how this case gets to trial before the election.

00:02:08.800 And I think that's the end result of what they did here.

00:02:12.260 So they may ultimately say that he does not have immunity.

00:02:15.900 But in fact, he will have been given immunity because the case will not go to trial before the election.

00:02:22.160 Meaning if Joe Biden wins, the case goes forward.

00:02:25.280 But if he loses, the case is over.

00:02:27.740 Smith, however, not relenting just yet.

00:02:30.280 The junkyard jackal has proposed a new trial date of, well, something just really convenient for everyone involved.

00:02:36.460 July 8th, just a week before the RNC convention.

00:02:40.880 Now, do you think that's a mistake?

00:02:42.820 You don't think the Marxist Dems are brazenly trying to interfere in the presidential election this year, do you?

00:02:49.220 Give me a break, will you please?

00:02:51.640 Judge Eileen Cannon telling Smith's team to take a walk.

00:02:55.560 The case will not realistically be able to begin in July because of President Trump's case in New York.

00:03:01.700 And that starts later this month.

00:03:03.380 Last week, we found out just how involved Joe Biden really is and was with the CCP.

00:03:10.900 We find out that Joe Biden is, after all, the big guy in Hunter Biden's $5 million China deal.

00:03:18.280 Remember the whole 10% for the big guy?

00:03:21.740 Our guest today is going to give us a deep dive on just how entrenched the Biden family is with China.

00:03:27.960 Our guest today is best-selling author Peter Swiser.

00:03:31.480 And Peter, it's amazing to see your record with bestsellers, number ones, and you've delivered a beauty.

00:03:37.940 This one is taking on the CCP, China, the establishment.

00:03:42.640 Why is it that Biden world won't hold China to account?

00:03:46.980 Well, I think probably initially, this goes back 20 years with the establishment in general in Washington, D.C.

00:03:53.740 They subscribe to this belief that China would become more like us if we traded with them and made them more powerful.

00:03:59.660 And, of course, that's been proven to be entirely incorrect.

00:04:02.780 But I think more specifically with the Biden administration, you have these entanglements, these financial ties.

00:04:09.440 We've talked about them before.

00:04:11.220 You know, $31 million that the Bidens have received from Chinese entities.

00:04:15.340 What I point out in this new book is it's not just that they've taken money from businessmen connected to the CCP.

00:04:24.520 They've actually taken business money, taking money from businessmen that are connected to individuals in the drug trade, particularly the fentanyl trade.

00:04:34.520 And that's, I think, one of the reasons why this scourge of fentanyl that China is involved in, every link in the chain China is involved in. 0.88

00:04:44.420 The drug cartels are really the junior partners here.

00:04:47.740 Joe Biden will not confront them, will not say that China is involved.

00:04:52.460 And I think it's because of the blowback that they would experience as this information becomes more clear.

00:04:58.220 You know, as watching the task force on China be dismantled, that Trump had assembled, one of the first things that Joe Biden did was simply obliterate it.

00:05:09.620 He also has managed to drop the Strategic Petroleum Reserve to 40-year lows.

00:05:15.760 But within that, much of it, millions of gallons, millions of barrels have gone to the Chinese.

00:05:24.260 It is, he doesn't even try to pretend that it's an arm's length relationship between him and the People's Republic of China.

00:05:34.060 Yeah, Lou, it's pretty stunning.

00:05:35.780 I mean, I'm hard pressed to find a single policy that China is particularly angry at the Biden administration on.

00:05:44.220 I mean, you know, Joe Biden says things about Taiwan.

00:05:46.680 They don't really care.

00:05:47.600 That doesn't bother them.

00:05:48.780 What they're concerned about is these vital issues about their economy and their strength and us calling them out for what they're doing to us.

00:05:57.640 You know, Donald Trump, when he was president, he pushed an initiative that I think was a good idea to force the sale of TikTok from a Chinese company to an American company.

00:06:09.280 Joe Biden reversed that.

00:06:10.860 We're having this debate in the United States about TikTok.

00:06:14.120 Is it a security threat?

00:06:15.360 I have an entire section in the book where I quote extensively from Chinese propaganda officials, from people in the Chinese government, from their documents, from military journals, where they're not having this debate.

00:06:28.020 They know exactly what TikTok is.

00:06:30.300 One military officer calls it a Trojan horse that they can use against the West.

00:06:35.120 And they describe how they are going to and how they are already manipulating our young people emotionally through this tool.

00:06:42.060 And the fact that Joe Biden has taken zero action.

00:06:45.720 We've been now, quote unquote, studying the TikTok problem in the Biden administration now going on three years while they continue to engage in this behavior.

00:06:55.960 So this is this is a fundamental issue and problem going forward.

00:07:00.640 I know people have talked about the cognitive issues involving President Biden.

00:07:05.140 But when it comes to China, I believe he knows exactly what he's doing.

00:07:08.700 Exactly what he's doing. 0.92

00:07:10.860 And that's and it's that's one of the tensions that exists right now between Joe Biden and the rest of the country and his, of course, Marxist party is that he seems utterly incapable, utterly inept, demented and deranged at various points and consistently.

00:07:32.480 So yet the policies that he is pursuing are to to going along with what you just said, I find it impossible to find a single policy, foreign policy or domestic that is in the interest of the United States and a host of issues that are favorable to the country's enemies and competitors.

00:07:53.800 Yeah, I mean, take an issue like fentanyl, Lou, a lot of people know that the precursors come from China.

00:08:00.960 China's involved in every stage.

00:08:02.560 Those precursors come to the port of Manzanillo in Mexico, 90 percent of them, according to the DEA.

00:08:09.000 That port in Mexico in Manzanillo is run by a Chinese state owned company.

00:08:13.260 They then take those precursors.

00:08:15.460 They ship them to a city in northern Mexico where our Department of Homeland Security, Joe Biden's Department of Homeland Security, says 2000 Chinese nationals help make these precursors into fentanyl.

00:08:29.040 The drug cartels then need to make pills out of this fentanyl.

00:08:33.200 They get pill presses that Homeland Security says are sold by Chinese companies to the cartels at cost.

00:08:40.760 In other words, they're not trying to price a price gouge here.

00:08:43.400 They then make these pills.

00:08:45.320 They distribute them in the United States.

00:08:47.380 They use communication devices.

00:08:49.180 The cartels do that are Chinese based apps because they know the Chinese won't share them with U.S. law enforcement. 0.62

00:08:55.680 And the money gets laundered in Chinese state owned banks using students, again, according to the Department of Homeland Security, Chinese students that are in the United States on education visas.

00:09:07.800 And what does the Biden administration say?

00:09:10.320 Joe Biden says no finger pointing.

00:09:12.780 We're not going to finger point at China.

00:09:14.280 His secretary of state says maybe some of those precursors are being shipped accidentally by the Chinese.

00:09:21.640 This is not a level of ignorance that anybody is capable of in any official position.

00:09:28.740 They know what's going on.

00:09:30.260 They don't want to confront it.

00:09:31.740 And I think one of the key reasons they don't want to confront it is Joe Biden's family's financial entanglements in China.

00:09:38.440 And the DEA, the Department of Homeland Security, various agencies all know what's happening.

00:09:46.120 They can follow those precursors to their manufacture in Mexico, as you point out, and then distributed through across the United States.

00:09:55.660 The question is, why aren't those agents doing something about it?

00:10:01.560 They've sworn an oath to the Constitution, not to Joe Biden.

00:10:04.780 And we don't see any, not any resistance from the leadership of either the Border Patrol, the DEA, you name it, the Department of Homeland Security.

00:10:14.920 The man is under impeachment right now.

00:10:19.960 Alejandro Mayorkas, who's lied straight to the American people and the U.S. Congress saying it's secure.

00:10:26.620 It's madness for this man to just sit there bald face lying and not even a twinkle in his eye.

00:10:34.620 He means business, and obviously it's the Chinese business that he's interested in.

00:10:40.040 Yeah, the open border is a huge problem, not just with people coming across the border, with Chinese nationals coming across the border. 1.00

00:10:48.480 It's a myriad of problems.

00:10:49.940 But if you look at just the issue of Chinese nationals across the border, we have a massive epidemic in this country of highly potent, often laced with fentanyl marijuana that's being grown illegally in the United States.

00:11:03.400 This is not the marijuana that's sold legally.

00:11:05.680 This is not the marijuana in the 1990s.

00:11:08.100 It's highly, highly potent stuff.

00:11:10.300 In the state of Maine alone, according to law enforcement officials, there are more than 300 illegal marijuana growth facilities in the state of Maine that are run by Chinese nationals, many of whom are here illegally.

00:11:24.600 They're finding them in Oklahoma, California, Washington state.

00:11:28.300 So those people coming across the border, we don't know what each, every individual person is going to do.

00:11:33.800 But we know some of them are part of these criminal networks operating in the United States.

00:11:38.680 And this is not to mention, we talked about the people, this is not to mention the fentanyl that's being smuggled across the border, or these devices, these small devices called Glock switches that the Chinese have been smuggling into the United States beginning in 2018.

00:11:54.440 They would mail them to criminal gangs in the United States.

00:11:57.920 These switches convert a Glock handgun to a fully automatic machine gun.

00:12:02.920 As our customs people got better at intercepting that in the mail, what do they do?

00:12:07.460 The Chinese companies now have gone in league with the cartels, and they're smuggling them by the thousands across the border into the United States.

00:12:15.780 So it is a massive problem at the border.

00:12:18.360 It's not just the people that are coming.

00:12:20.420 It's the criminal activity and the violence that they're going to bring with them.

00:12:24.420 It is really interesting to think that all of that is coming across the border.

00:12:31.840 We all know about it.

00:12:34.320 The Mexican government knows about it.

00:12:36.100 The cartels are their partners in the destruction of Americans and, frankly, America.

00:12:43.400 Yet there isn't an impulse from the Republican Party, an imperative of any sort, rising up amongst our business elites, our educational elites, to stop this.

00:12:55.060 It is a peculiar malaise that has set upon us, and I'm not quite sure that I believe that it can be broken in time for November 5th.

00:13:05.920 Well, I've met with some people in Washington.

00:13:08.820 I think there certainly are people in the Senate and in the House that are concerned about this.

00:13:12.940 They're vocal about it.

00:13:14.400 It's not really the leadership.

00:13:16.000 Mitch McConnell, for example, does not want to have a conversation about confronting China.

00:13:20.760 So I agree with you.

00:13:22.720 But what I would say, Lou, is that we know that the American people love their country.

00:13:28.020 They don't want this happening to them.

00:13:30.460 I think the more information that we put out, the American people are going to rise up and they are going to elect people, hopefully in November, that are concerned about these issues.

00:13:41.140 There is a malaise in Washington, D.C.

00:13:43.120 There is a malaise in our media that doesn't want to address what's going on.

00:13:47.340 But people sense it.

00:13:48.560 They feel it.

00:13:49.340 America doesn't feel the same way that it was three or four years ago.

00:13:54.720 And part of the reason is because of the things that China is doing to magnify the conflict and the violence and the anxiety in the United States.

00:14:03.940 So the American people know what's going on.

00:14:06.200 And as is oftentimes the case, you and I have talked about it before.

00:14:10.260 Oftentimes it's the American people that have to pull our leadership along, kick the ones out that need to be kicked out, and pull the leadership along.

00:14:19.020 So that these issues are addressed.

00:14:21.900 Absolutely.

00:14:22.900 And what I am concerned about is that there will be nothing but a stalemate until the election.

00:14:30.860 At that point, the elites will have to make a decision.

00:14:33.360 Are they going to move toward America first policies of Donald Trump?

00:14:38.320 Or are they going to persist in this China first policy that has completely consumed Wall Street and much of corporate America, as you well know, big tech certainly as well?

00:14:48.780 Well, this is a heavy load to overcome when President Trump steps back into the White House in January.

00:14:58.060 Well, we need people in the White House.

00:15:00.320 We need people on Capitol Hill.

00:15:01.860 We need people at the state level.

00:15:03.740 We need people in law enforcement to stand up and to be honest and transparent.

00:15:08.520 I get text messages from people in law enforcement all the time, FBI, Homeland Security, who are very concerned about these issues.

00:15:16.380 And I understand they can't put their job at risk.

00:15:19.400 But I do think there is a critical mass of people that are concerned about this issue.

00:15:23.720 And look, all we can do, Lou, is we can spread the word and alert people to what's going on.

00:15:29.440 My favorite, when I was a kid, my favorite figure from the American War of Independence was Paul Revere, because he got to ride that great grand horse through the towns and through the cities shouting, the British are coming, the British are coming.

00:15:44.120 It wasn't up to him to rally the people.

00:15:46.460 The people had to rally themselves.

00:15:48.400 So we need to keep doing what Paul Revere did do, which is alert people.

00:15:53.380 And I still believe that American spirit is here and people will rally.

00:15:57.180 You know, I feel about Paul Revere.

00:15:59.940 I'm also one of my heroes.

00:16:02.340 But the difference between then and now is I wonder how many people would be listening to Paul Revere's cry in the in the midst of night.

00:16:12.100 We're talking with Peter Swiser.

00:16:14.280 The book is Blood Money.

00:16:15.720 We're going to continue the conversation.

00:16:17.560 And next up is what happened to all of the elites in this country who are who we depend upon for leadership in times such as these.

00:16:27.720 We'll be right back.

00:16:28.980 Stay with us.

00:16:30.760 Folks, you know, I beg everyone to get ready for the next crisis.

00:16:34.240 And when it comes, our lives will likely change overnight, whether it's natural disaster, war or another disease.

00:16:41.860 We have to be ready as we can be.

00:16:44.000 We saw what happened in 2020 when we found ourselves dependent on global supply chains.

00:16:48.960 We're still dependent on China and other countries for more than 90 percent of all our pharmaceuticals.

00:16:54.380 With clusters of respiratory illnesses popping up around the world and here, we need to be prepared.

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00:18:06.240 We're back now with Peter Schweizer and he is the author of the new best-selling blockbuster book, Blood Money.

00:18:13.760 And Peter, again, congratulations on this terrific book, the national service that you're doing for the American people as well.

00:18:23.120 Let's turn to Wall Street for a moment.

00:18:25.760 Wall Street right now, and I think everyone who pays any attention whatsoever to economics, to business, markets, their pensions and their 401ks, watch the business press.

00:18:39.700 And they see all of these recommendations for Chinese stocks.

00:18:43.920 They see the interest on the part of the denizens of Wall Street in investing American money in China.

00:18:55.120 And right now, I don't believe it's ever been riskier than right now, frankly, that idea.

00:19:01.160 But they're doing it.

00:19:02.900 And that's taking a lot away from investment in the United States, without question.

00:19:08.780 Your thoughts about it?

00:19:10.340 Absolutely.

00:19:11.000 It's taking investment dollars out of the United States.

00:19:13.640 It's also oftentimes investing in these large Chinese conglomerates that, yeah, maybe they are producing consumer electronics, but they're also producing missile guidance systems for the Chinese military.

00:19:25.540 And those missiles are going to be pointed at us and at our soldiers and Marines.

00:19:31.600 So it's a massive problem.

00:19:33.560 And it really is on a couple levels.

00:19:35.780 One level, I think, is China was a growth story for so long.

00:19:39.720 It was this third world country with all these people, with capital investment.

00:19:43.980 There was a lot of money to be made.

00:19:46.080 Those days, I think, are largely gone, partly because President Xi has come in and he's made clear he's not doing the sort of quasi, you know, free market, state market capitalism experiment anymore.

00:20:00.120 He is taking the reins of commercial activity in China.

00:20:03.860 And it's not going back to where it was in 2005.

00:20:07.160 So that's the first thing that's changing.

00:20:09.720 The second thing I think that's changing is people are much more aware of what these large financial actors in Wall Street are doing.

00:20:18.180 You know, Larry Fink gave a speech like five or six years ago where he said canonly, you know, actually, the totalitarian market works for investors.

00:20:28.960 We like totalitarian markets because there are efficiencies and they can get things done.

00:20:34.860 Elon Musk has said the same thing.

00:20:36.620 They're not saying those statements anymore because of so much of the attention that has been brought to this issue.

00:20:42.800 People are much more aware, I think, of what's going on with their investment dollars, the role that China is playing, the fact that China is now an adversarial power.

00:20:52.620 The polls on that have switched almost completely over the last 10 years.

00:20:56.580 So in that sense, there's greater awareness.

00:20:59.480 The problem is these political titans on Wall Street do not bear a cost for their risky behavior that is strengthening our chief opponents.

00:21:09.220 And I think we need to embarrass them.

00:21:11.640 We need to expose them.

00:21:12.820 And we need to put restrictions on the flow of capital dollars going to China because it is for the benefit of Beijing.

00:21:20.780 It is certainly not the benefit of for the benefit of Baltimore or any other city in the United States.

00:21:26.520 And Joe Biden is not putting any restrictions on the flow of capital whatsoever for U.S. capital markets to Beijing, Shanghai, etc.

00:21:37.140 It is really a risky market right now is on top of everything else because we've seen the largest developer real estate housing company, you know, bankrupt in the other country almost.

00:21:53.640 It would be absolutely bankrupt and that money completely lost.

00:21:57.020 We're seeing a very big squeeze on China and people forget these Wall Street companies like totalitarian markets because they don't need great clarity.

00:22:08.260 They don't need transparency.

00:22:09.660 They'll just take whatever China tells them and take that as the growth rate of the GDP, the orders for durable goods, whatever it may be.

00:22:18.180 They just it's a fiction because no one has insight into what's really happening.

00:22:23.480 I want to go to I'm sorry.

00:22:25.020 Go ahead.

00:22:25.260 No, I agree with you.

00:22:26.780 And I was just going to say also with totalitarian countries, Elon Musk actually referred to this.

00:22:32.480 He was shocked that they were able to build a massive Tesla factory for him in China and they did it in less than a year.

00:22:40.540 Well, the reason they can do that less than a year, I think that's very admirable, is they don't have things like property rights.

00:22:46.040 They don't have an independent judiciary.

00:22:48.460 These sorts of things we take for granted.

00:22:50.200 So the quote unquote efficiency of the totalitarian system comes at a terrible price to bear.

00:22:56.940 Plus the fact, Lou, that they are now in China starting to arrest generally pretty randomly employees of U.S.

00:23:04.460 and European companies that are operating in China or Hong Kong.

00:23:07.680 They accuse them of espionage or some various crimes.

00:23:11.360 So it is a very, very unstable, I would say, even aside of the issues we've talked about, investing in China right now is a very, very bad idea because Xi is basically the CEO of any company that operates there.

00:23:25.000 And I wouldn't trust him to run any company to run any company and we're going to take up next just how how serious is.

00:23:34.700 Well, we're going to take up next, I suppose, when the war starts, because President Xi Jinping has been talking about about somewhere between 25 and 27 is the years in which he wants the Chinese people to be ready for war with the United States.

00:23:50.480 That's that's that's clarifying, as they say.

00:23:53.820 And, Peter, as always, we appreciate you clarifying all of these important, profoundly important issues for the country and for the American people.

00:24:04.760 Thanks so much, Peter Swiser.

00:24:06.320 His brand new book is Blood Money, and we recommend it to you highly.

00:24:10.140 Thank you, Peter.

00:24:11.400 Thanks, Lou.

00:24:12.580 Thank you to Peter Swiser.

00:24:14.100 And thanks, everybody, for being with us today.

00:24:16.320 Be sure to join us tomorrow for The Great America Show.

00:24:19.140 Please join us for Lou Dobbs tonight, each and every weeknight.

00:24:22.820 Watch us on Rumble, Twitter, Frank Speech, 7 p.m. Eastern, 6 central.

00:24:28.100 And follow me on Twitter and Truth Social at Lou Dobbs on Facebook and Instagram at Lou Dobbs Tonight.

00:24:34.960 Thank you, everybody.

00:24:36.100 God bless you.

00:24:37.140 And may God bless America.

00:24:38.980 Thank you.

The Great America Show - March 04, 2024

CHINA’S BLOOD MONEY

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