Ep. 1003 - The Libs Are Angry And Want To Fight
Episode Stats
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Summary
As abortion activists continue to burn down pro-life offices and pregnancy centers across the country, the White House continues to insist that the protests are peaceful and should continue even when they take place outside of Supreme Court justices' homes. Is the administration encouraging the protests outside of the judges' homes or is it encouraging them outside of their own homes?
Transcript
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As abortion activists firebomb pro-life offices and pregnancy centers in Wisconsin, in Oregon, in Maryland, and elsewhere around the country,
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the White House is continuing to insist that the pro-abortion protests have been peaceful
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and should continue even when they take place at judges' homes.
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So I know that there's an outrage right now, I guess, about protests that have been peaceful to date,
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and we certainly continue to encourage that outside of judges' homes, and that's the president's position.
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I actually cannot quite believe what she is saying here.
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Is Jen Psaki saying that the White House is encouraging the protests outside the Supreme Court justices' homes,
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meaning the protests that are recurring at those homes?
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Or is she saying that the White House is encouraging protests outside of, meaning other than,
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I've been trying to figure out how to make it be the latter, but I just don't think it is.
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I don't think it is because the other day when Psaki was asked directly about the very same protests,
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She said that she doesn't have an official government position on where people protest.
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I don't think she is saying except for the judges' homes because today she's still pretending that the pro-abortion protests are peaceful,
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despite the graffiti and the arson around the country,
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despite the shrieking mobs outside of the justices' homes where their children sleep.
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I don't think she's saying don't go to the judges' homes because the protests at judges' homes
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to influence their decision in this case are in violation of federal law,
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and the White House won't say anything about that.
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I don't believe that Jen Psaki is condemning these protests because when BLM was burning the country down,
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senior officials in this administration were raising money to bail out the rioters.
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The left is right about one thing in this whole mess.
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They are right that we are witnessing a constitutional crisis,
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not because the Supreme Court might overrule a terrible decision from the 1970s,
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but a constitutional crisis because the executive branch is waging war on the judiciary.
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The left is willing to tear down the most fundamental aspects of our system of government
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My favorite comment yesterday is from Jeremiah Shoemaker.
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Who says, I've been boycotting Target since they publicly announced in 2015-ish
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that you can use whichever bathroom you identify with.
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I wholeheartedly agree with the new policy Michael is suggesting.
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The Standards and Norms Expression Act, or the SANE Act.
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Like, if you agree, in the meantime, I will continue to not shop at Target.
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This is something that the left convinced the conservatives of in the 60s and 70s,
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and then some conservatives, especially more on the individualist-minded side of the right,
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And they said, you're not allowed to have any norms.
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Just, every man can do whatever he pleases at all times.
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We have not only individual rights, but political rights.
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Rights as a political community to say, no, don't trans the kids.
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No, don't let the grown men go into the little girl's bathroom.
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We actually have the right to enforce some sanity.
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Four, I guess this really should be number one.
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They've supported this show for a long, long time.
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Not afraid to stick by this show and stand by good, patriotic American values.
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The left is saying the quiet part out loud, specifically the pro-abortion left, where there's
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It used to be that you could be on the left but oppose abortion.
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I think that's pretty much gone by the wayside.
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It certainly used to be that you could be a Democrat and oppose abortion.
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And it's been extremely unpopular for 30 years.
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And really starting with Mario Cuomo, Andrew Cuomo's father, when he was governor of New
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York, he invented this idea of, I'm personally opposed to abortion, but politically I support
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If you think it's murder, then it should be illegal.
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If you don't think it's murder, then why do you oppose it?
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If it's just like taking your appendix out, then who cares?
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So I use these phrase, the left or the Democrats or the pro-abortion activists.
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Today, 99.9% of the time, they all refer to the same group of people.
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And they are saying the quiet part out loud, okay?
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When Jen Psaki comes out and she says, yeah, we encourage protests outside of judges' homes.
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She's saying what we already knew the White House believed.
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If she misspoke, I hope she clarifies it today, but I don't think she did.
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Because in practice, the White House has been encouraging all of these protests.
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So I'm not surprised that she says, yes, we're encouraging them.
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Janet Yellen, who is the Treasury Secretary for Joe Biden, she came out and voiced her opinion
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Who cares what the Treasury Secretary has to say about constitutional law and the bioethical
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And actually, she exposes one of the reasons why corporate America, the kind of big corporate
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establishment, is so gung-ho on supporting their employees to go travel out of state to
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get an abortion, to oppose the overrule of Roe versus Wade.
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Janet Yellen makes the argument that if we have fewer abortions, we're not going to make
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I believe that eliminating the right of women to make decisions about when and whether to
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have children would have very damaging effects on the economy and would set women back decades.
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Roe v. Wade, in access to reproductive health care, including abortion, helped lead to increased
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It allowed women to plan and balance their families and careers.
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And research also shows that it had a favorable impact on the well-being and earnings of children.
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If I wrote a script about the pro-abortion side, and I just wrote exactly what Janet Yellen just said,
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her argument for more abortion, and I turned it into a producer in Hollywood,
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they would reject the script for it being too cartoonishly villainous.
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They would reject it probably because of the politics of the script too.
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But they would reject it because of the writing, because what she just said is such a caricature
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of an evil villain to say, well, it is my opinion that we need to continue to kill 875,000 babies a
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year, because if we kill fewer of those babies, we might not make as much money.
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And then we won't be able to buy as much stuff.
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And then we won't have lots of fun toys and jewelry and gems and gold and money.
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We have to kill the babies so we can have more money.
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That is my reasoned opinion as the Treasury Secretary.
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And then just when you think she's going to start making some other kind of, that's her primary argument.
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Well, okay, then she talks about the effect on women.
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Then maybe she's just an ideological leftist who, she says, it's really important for women's
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well-being in the labor force, in the labor force, for women's well-being in their earnings potential.
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You're saying we need to sacrifice our babies so that we can make more money.
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I'm willing to diminish the GDP of the United States if it means we don't slaughter upwards
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Every evil pagan tribe in the history of the world has practiced human sacrifice to try to
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And the United States right now, with this woman as the Treasury Secretary, with this
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government that we've got in place, is doing exactly the same thing.
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They think that they're really fancy and sophisticated and modern and they just understand things.
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No, they're doing the same damn thing that awful tribes have done for all of human history.
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Sacrifice their kids to Moloch so that they can, sacrifice their kids to mammon, really
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I think that's a bad, I think it's pretty evil when you really think about it, don't you?
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But they're saying the, they used to mean that, but they wouldn't say that.
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Why is Amazon paying for their employees to go out of state to get abortions?
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Because it helps their bottom line, because it helps Amazon make more money.
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Beyond the woke takeover of Amazon or the woke people at Tesla, Tesla's got the same policy.
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I'm sure a lot of other corporations are going to have the same policy.
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Beyond the wild ideological takeover, there's a cold, hard cash capitalist element here too,
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which is they want to make more money, kids are expensive, they cause women to not work as hard,
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they cause women to take a lot of time off from work, they cause women to be less reliable in the
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workplace because maybe little Johnny gets sick one day and they're not able to come to that
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And so if you kill the kid, then you've got a much more reliable workforce.
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That's literally what the treasury secretary said.
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But that's the argument that they are making explicitly.
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Elizabeth Warren, Laya Watha is really angry too.
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Her fingers are just itching for the tomahawk right now.
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Elizabeth Warren says that she is going to fight back.
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Tweeted out yesterday, I'm angry about the potential overrule of Roe and I've got a plan
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What does it mean to fight back against reducing the number of abortions in America?
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I've got a plan to put those babies in their place.
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She's got an op-ed in Marie Claire, a woman's magazine, that I hope Elizabeth Warren did not
00:12:35.480
right, I've always thought Elizabeth Warren is wrong and radical, but at least reasonably
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This column that Warren wrote, defending Roe v. Wade and pushing abortion, this might be
00:12:49.860
Now, this column that Elizabeth Warren wrote, this is not an important document.
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Elizabeth Warren, I'm angry but determined to protect Roe.
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The minute Roe is officially gone, more than half the states in the country are poised to
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outlaw abortion or severely limit abortion access.
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If abortion is outlawed, the impact won't fall equally on everyone.
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Wealthy women will still get safe legal abortions by flying to another state or even traveling
00:14:34.960
But the world will be very different for those who have the least power.
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Low-income women, women of color, victims of incest and abuse, moms already working two
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This far-right extremist Supreme Court doesn't care if Americans suffer.
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They are hell-bent on imposing their views on all of us.
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She said that the minute Roe is officially gone, more than half the states in this country
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And therefore, this constitutes the extremist Supreme Court imposing its views on all of us.
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All of us, the majority of whom support outlawing abortion.
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By the way, what the court is doing is not outlawing abortion, as she explains.
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The court is merely admitting that there's no constitutional right to an abortion and returning
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And she says, more than half of the states are going to get rid of abortion or almost
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So it sounds like the court is not imposing its views on us.
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It sounds like, if anything, our views on restricting abortion go much further than anything
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Actually, ironically, it sounds like what the court imposing its views on us occurred in 1973,
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when the court created out of thin air a fake constitutional right to an abortion,
00:16:03.300
when the majority of Americans oppose that right.
00:16:06.260
How do I know the majority of Americans oppose that right?
00:16:08.740
Liz Warren just told me, because she said more than half the states are going to get rid of it.
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It was the Supreme Court in Roe versus Wade, and then again in Planned Parenthood v. Casey,
00:16:18.300
And now it is the Supreme Court, we hope, in Dobbs versus Jackson Women's Health Organization,
00:16:25.060
Frankly, I wish that this court would impose more views.
00:16:28.260
I think there is a very strong argument that the 14th Amendment prohibits abortion nationwide
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John Finnis and Robbie George, conservative legal scholars, made a very compelling argument for that
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in a brief that they gave to the court with this case, the Dobbs v. Jackson Women's Health case.
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But regardless, that doesn't seem to be the opinion that we're going to get from the court,
00:16:53.580
What we're going to get is the court saying, hey, we're going to stop imposing our views on you.
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And you people can decide whatever view you want about abortion.
00:17:03.300
And if Tennessee doesn't want it, that's fine too.
00:17:06.400
And Elizabeth Warren is extremely frustrated because she wants to impose her views on the
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I said, whatever the left accuses us of, they are doing.
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She goes, I won't go through this whole stupid op-ed, but I love this line.
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It's a very, very stupid line because the entire mantra of the feminists during the 1970s,
00:17:40.140
when Elizabeth Warren came of age, she is very much in the mold of the 1970s feminists.
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Their entire mantra was the personal is the political.
00:17:48.080
Their entire mantra was there's no distinction between what is personal and what is political.
00:17:51.700
And they had something of a point there in that, in a self-government, the politics is broadly
00:17:59.480
what we want it to be within the confines of the Constitution.
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The views that we hold, the way that we want to live, the laws that we want to enforce,
00:18:07.860
our personal opinions about that become the political opinions in self-government.
00:18:15.600
And she says, I have lived in a world where abortion was illegal.
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I learned early on that when the law bans all abortions, only safe and legal abortions
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So you're telling me that in the world where you ban abortions, then you're just going to
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It's a very, very silly argument that she's making here.
00:18:48.900
Because I'll go with the left for a little bit.
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I think if you banned guns in America, let's say there were no Second Amendment, and you just
00:18:57.040
banned guns in America, and you went door to door and confiscated guns, kind of like
00:19:00.920
they did in Australia, I do think that gun crime and gun deaths would plummet.
00:19:09.140
Crime itself might jump, and you might just have people stabbing you and all sorts of
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But if you went door to door and actually collected all the guns, and if that were even possible,
00:19:17.900
yeah, I do think gun violence would diminish greatly.
00:19:22.560
But we have a Second Amendment, and we have a Second Amendment not just because the framers
00:19:26.000
of the Constitution were lunatics, but because they inherited that right from the English,
00:19:32.100
and they inherited that right because people have a natural right to self-defense.
00:19:41.220
It came from the political community that they were already in, and it came from the natural
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So that's why we tolerate there's more gun violence, but it's because of all of these
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rights and because of these political traditions and because it's the right thing to do.
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There is no longstanding civil right to abortion in American history.
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There is no natural right to kill your own babies.
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And yet, Elizabeth Warren uses this argument for abortion.
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She says, I lived in a world in which women bled to death from back alley abortions, a world
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in which infections, complicated women's futures, on and on and on.
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And the last point I want to make on this is Elizabeth Warren did not live in that world.
00:20:30.980
She is parroting the same old line that the abortion movement has parroted for 50 years,
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more than 50 years, which is that before Roe versus Wade, in the years right before it,
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thousands of women were dying every year from back alley abortions.
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We know how many women died from back alley abortions the year before Roe versus Wade.
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We have these statistics from pro-abortion organizations.
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Do you know how many women died that year from legal abortions?
00:21:08.800
So this is actually even another knock on Elizabeth Warren's stupid argument.
00:21:13.220
She's saying that the illegal abortions were so much more dangerous than the legal abortions.
00:21:17.620
When you consider the number of states where abortion was legal and illegal,
00:21:21.500
the rate of death for legal and illegal abortions was roughly the same.
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The illegal abortions were not substantially more dangerous than the legal ones.
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Those are the numbers that we're talking about here.
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Where did the thousands of women number come from?
00:21:45.180
It came from Dr. Bernard Nathanson, who was an abortionist,
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who was one of the leaders of the Abortion Rights League, NARAL.
00:21:51.980
And he admitted in his memoir, he just made it up.
00:22:00.820
And the libs are attacking pro-lifers all around the country
00:22:03.760
and going and scaring the Supreme Court justices
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because they know they don't have a single argument.
00:22:15.740
I went on this little thought experiment yesterday
00:22:23.320
But the pro-lifers are, we're stuck in the debate.
00:22:32.820
you're sitting there having an abortion debate.
00:22:34.180
I think a lot of times people just spin their wheels.
00:22:37.820
And it's because the debate focuses entirely on rights.
00:22:45.260
the right of the mother to have bodily autonomy.
00:22:47.600
And you just debate all of the different rights.
00:22:49.560
And some of the most famous arguments for abortion
00:22:51.780
involve these crazy thought experiments about rights.
00:23:01.620
And you were kidnapped in the middle of the night.
00:23:04.020
It was determined that your kidneys are the only kidneys
00:23:08.540
And so you were plugged into a machine with the violinist.
00:23:11.140
And if you unplug yourself, the violinist is going to die.
00:23:15.180
But if you leave yourself plugged into the violinist
00:23:17.320
for nine months, then the violinist will get to live.
00:23:21.140
Do you have an obligation to stay plugged in for nine months?
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Or do you have the right to remove the machine?
00:23:37.740
how can we shake ourselves out of this debate on abortion
00:23:41.880
where it's just about rights, rights, rights, rights, rights?
00:23:45.980
My politics does not begin from the perspective of rights.
00:23:48.860
I don't think that we're born as free-floating atoms
00:23:51.040
in outer space who just have rights and entitlement.
00:23:53.780
I think that we are born first with obligations,
00:23:56.600
with duties, with loyalties, responsibilities to our families,
00:24:04.460
Let's say you wake up one day, you open your door,
00:24:06.500
and on the doorstep, there is a dirty, filthy, rotten bum.
00:24:10.320
I'll get to this experiment in just one second.
00:24:19.180
Get your voice heard on The Michael Knowles Show.
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Also, if there's one thing that you know about me, it's this.
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smoke a cigar, and talk politics with my friends.
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You should not turn down such an incredible opportunity either.
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This is your chance to get in on all the smoke-filled fun and festivities.
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12 hours later, they go on sale for the general public.
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Daily Wire, Backstage Live, Ryman Auditorium, Nashville, June 29th.
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Imagine for a second that you open your door one day
00:25:29.240
and there sitting on your doorstep is a dirty, filthy, rotten, disgusting bum.
00:25:34.160
And this dirty, filthy, rotten, disgusting bum is really, really thirsty.
00:25:55.140
Do you have an obligation to give that filthy, dirty, rotten, disgusting bum some water?
00:26:04.640
You've got this filthy, dirty, rotten, disgusting bum.
00:26:11.360
It's not just that he's, you know, would like to sit by your fire.
00:26:18.020
And you're living in the country and there's no one around.
00:26:30.200
they are not going to get there in time to save this guy from dying of exposure.
00:26:34.900
Do you have an obligation to take him into your home for just a little bit,
00:26:39.580
just a few hours, just until someone else can get there to save his life?
00:27:02.580
You could do that and you could let the bum die.
00:27:04.800
But I strongly suspect that you would have the sneaking suspicion
00:27:16.480
Now imagine that we're not talking about your doorstep,
00:27:21.120
Now imagine we're not talking about a filthy, dirty, rotten, disgusting bum,
00:27:30.620
because abortion does not just involve withholding something like nutrients from the baby.
00:27:35.900
It actually involves going in and poisoning the baby
00:27:40.320
for the sake of the abortion supporters argument,
00:27:42.420
let's just pretend for a moment that abortion is more like eviction than like murder.
00:27:50.500
Do you have an obligation to provide shelter for that baby if the baby is there?
00:27:59.060
Do you have an obligation to provide sustenance for that baby, for your baby?
00:28:05.060
You could say, look, it's my body, my body, my choice.
00:28:08.460
You could say, hey, look, it's my nutrients, mine to withhold or give.
00:28:13.020
But I think we all suspect that there's something kind of wrong with that.
00:28:17.220
Now, if the dirty, filthy, rotten, disgusting bum who you don't know from Adam
00:28:22.580
has some legitimate claim on the water in your house,
00:28:35.220
or you in some way offering of yourself to save him.
00:28:40.540
who's probably lived a completely dissolute life has that claim,
00:28:43.220
certainly we should be able to say that your own baby has at least as much claim.
00:28:50.180
This scenario really bothered some people when I floated it yesterday on social media.
00:28:56.520
And it bothered some people because it's coming at the abortion issue
00:29:00.620
from a completely different standpoint than we are used to coming at it from.
00:29:04.420
It's actually coming at politics from a completely different standpoint
00:29:08.820
Not just that the left is used to coming at it from, but the right too.
00:29:12.300
Because we're all stuck in this liberal rut of talking about rights.
00:29:17.400
Rights, rights, rights, rights, rights, in the abstract, floating in free space
00:29:20.540
with these crazy hypotheticals about violinists being attached to us in a hospital bed.
00:29:26.600
But I'm not talking about a wild, crazy, out of the ordinary hypothetical.
00:29:32.200
I'm talking to you about something that really could happen.
00:29:34.100
You actually could have a derelict show up to your door.
00:29:36.120
I'm not saying it's likely, but it could happen.
00:29:37.460
And you might be living in the country and there might not be help.
00:29:40.180
And you actually could be called upon to do this.
00:29:43.000
And you would know, despite not having reasoned through it and thought about it
00:29:46.940
in some long philosophical track, you would just know instinctively
00:29:51.960
And that you should maybe even take him in for a couple hours until he can get some help.
00:29:57.500
And as much as you try to reason yourself out of it
00:29:59.520
and convince yourself that that's not true, you know that it is true.
00:30:06.780
And I think, frankly, even beyond the abortion question,
00:30:10.460
a lot of our political problems and divisions would be greatly improved
00:30:16.640
if we would just stop for a second thinking of the entire world
00:30:21.560
and ourselves and our community as these ideological abstractions.
00:30:26.420
And if we stopped thinking about politics entirely about what we're entitled to
00:30:30.000
and what we have the right to do, start thinking about what is my obligation?
00:30:43.900
Ask not what your country can do for you, but what you can do for your country.
00:30:48.540
It's not the idea that the moral order imposes certain obligations on us.
00:30:52.120
And we don't just have the right to do whatever the hell we please at any given time.
00:30:58.060
Now we just think about me, me, me, me, me, and it leads people to absurd places.
00:31:03.080
There is a leftist right now who just attacked another pro-life women's group.
00:31:11.280
This leftist attacked the Concerned Women for America,
00:31:14.720
and he did that by showing up to their headquarters, to their office,
00:31:19.760
screaming, yelling, flipping them off, and then urinating on their building.
00:31:23.420
Exposing himself and urinating on their building.
00:31:27.880
Attacks on our employees and our building will not deter Concerned Women for America
00:31:34.980
And we will never, ever stop fighting to protect human life.
00:31:38.560
If you are a grown man, there's video footage of this, by the way.
00:31:43.140
If you are a grown man who shows up and urinates on a women's organization's building
00:31:51.320
something has probably gone wrong in the way you're thinking about things.
00:31:54.600
If you are an adult and you march to a residential neighborhood to scare a judge's children
00:32:01.080
because you don't like a ruling that the judge may hand down,
00:32:06.280
something has gone wrong with the way you're thinking about politics.
00:32:09.640
If you think that the most sacred right that you have as an American is to kill a little baby,
00:32:18.580
something has gone wrong with your way of thinking, okay?
00:32:23.320
There was a wonderful response to some of the left-wing protests in Sam Alito's neighborhood.
00:32:29.340
So you've got all these crazy leftists chanting, change the ruling,
00:32:33.060
you know, trying to influence this judge's opinion.
00:32:37.940
instead of going out and yelling and shrieking at the protesters,
00:32:40.260
he decided to just sit at his piano and play a hymn.
00:33:03.640
You can hear them screaming and shrieking and going up and down the residential neighborhood,
00:33:18.500
Who do you think has the better grasp on reality?
00:33:21.660
The crazy, shrieking people with all sorts of colorful hair and angry clothing
00:33:27.660
and shrieking and yelling and crying on the street,
00:33:30.580
or the man sitting at his piano playing a nice hymn of gratitude
00:33:49.880
He's not throwing Sam Alito, his neighbor, under the bus.
00:33:59.560
No, he's just going to play "'Tis So Sweet to Trust in Jesus,"
00:34:04.860
He and the protesters have very, very different worldviews.
00:34:12.560
used to be the public view of the United States until very, very recently.
00:34:18.420
we are not a Christian nation, but that's not true.
00:34:22.360
The people who founded the country were almost all Christians.
00:34:24.840
The public ceremonies, the public orations, the ethos, the founding documents,
00:34:36.740
What the protesters believe in is secular liberalism, leftism.
00:34:43.740
And they want the public religion of the United States to be secular leftism.
00:34:49.720
Travel with me for a second, down to South America.
00:34:52.400
There's a small town in southern Brazil that just constructed a gigantic statue of Jesus.
00:34:59.160
A statue that is even larger than the famous Christ the Redeemer statue in Rio.
00:35:09.820
And they just unveiled this statue, Christ the Protector, on April 22nd.
00:35:14.440
It was funded by a local volunteer organization.
00:35:16.400
They spent, obviously, a lot of money to build this statue.
00:35:26.060
Okay, this matters if you are just a normal, sane person
00:35:30.100
who doesn't like the way the left has turned this country.
00:35:34.120
Because what this statue represents is public Christianity.
00:35:46.400
A lot of cultural conservatives have been saying this for 50 years,
00:35:49.240
and usually just until we're blue in the face and it doesn't go anywhere.
00:36:01.800
It used to be pride day, then pride week, then pride month.
00:36:07.040
We have drag queen story hours, a kind of public ritual.
00:36:10.360
We have public saints that we venerate like St. George Floyd and others.
00:36:15.880
We have the maxims and the dogmas of the public religion like tolerance and diversity and equity
00:36:24.400
Which religion do you think has given us the better country?
00:36:34.300
You would want to live in the country that has public Christianity.
00:36:37.640
Whether you're a Christian, whether you're a Protestant, whether you're a Catholic,
00:36:42.380
whether you're an agnostic, atheist, normal person
00:36:44.700
who doesn't want to trans the kids and burn the country down every six months.
00:36:49.340
If you are any of those things, you will prefer the country with public Christianity.
00:36:57.660
Let's stop pretending that there is some neutrality.
00:37:01.100
That this was the last 50 years, there was this experiment that the left proposed
00:37:05.800
and the right bought it hook, line, and sinker.
00:37:07.400
That somehow the country is going to be completely neutral
00:37:11.320
That's why we've got to kick the Bible out of schools in the mid-20th century.
00:37:14.320
That's why we've got to kick prayer out of schools,
00:37:17.220
That wasn't true from the beginning of this country.
00:37:19.820
We had all of those things from the beginning of this country
00:37:23.800
And coincidentally, when we lost all that stuff
00:37:41.920
there is a lot going on here that is just structurally messed up.
00:37:48.460
I'm not even talking about the cultural institutions,
00:37:56.380
We opened up the show talking about Janet Yellen saying how
00:37:59.880
we need more abortion so that we can make more money.
00:38:04.440
There's obviously a big connection between the social issues and the economy.
00:38:08.560
But people are not feeling very good about the economy right now.
00:38:14.860
Americans' inflation fears are at a near record high in April.
00:38:18.320
Consumers are expecting the price of everyday goods to stay elevated
00:38:22.420
according to a key Federal Reserve Bank of New York survey
00:38:27.000
So, you know, on this show, we've got a wonderful sponsor, Birch Gold.
00:38:30.260
And we have the sponsor because conservatives tend to like some of these hard assets
00:38:35.640
So anyway, I called up a friend of ours over at Birch Gold
00:38:38.620
to give us his sense of what this means for the economy.
00:38:41.400
I don't need to tell you that everything is getting much more expensive
00:38:49.680
and we're having all sorts of terrible economic problems.
00:38:56.380
so that they can try to get this inflation monster under control.
00:38:59.720
And I really don't know how this is going to work.
00:39:02.820
But fortunately, we are joined right now by someone who does know
00:39:06.440
because Philip Patrick is a Birch Gold precious metals specialist.
00:39:16.280
And so I figured, look, I don't know a damn thing about this topic.
00:39:18.940
So I'm just going to ask someone who actually does.
00:39:21.820
Thank you so much, sir, for coming on the show.
00:39:30.600
they're going to hike interest rates by half a percentage point,
00:39:33.260
was that an announcement that you were expecting?
00:39:35.020
Yeah, look, the Fed under Powell is probably the most predictable Fed
00:39:43.280
And they've been telegraphing this half a percent rate hike for quite a while.
00:39:48.500
In fact, the Treasury market had already priced it in.
00:39:55.860
because inflation has now become a political priority for the Fed.
00:40:02.460
And in fact, in that speech, Powell said that rates need to now go up expeditiously
00:40:10.220
So we've got more rate hikes in front of us between now and the end of the year.
00:40:14.520
I think they're predicting the federal funds rate at 3% by the end of the year.
00:40:19.840
So as you'd expect, on the back of news like that,
00:40:25.260
I am glad that I locked in my mortgage before this happened.
00:40:29.540
But it's still not going to protect me from all the economic craziness that's going on
00:40:33.220
at the grocery store, at the gas pump, everywhere else.
00:40:35.720
So how do you think this is going to play out in the market?
00:40:39.440
Well, first of all, I think it was good news locking in your mortgage
00:41:00.300
NASDAQ, worst start to the year since the previous financial crisis in 2008.
00:41:07.980
The broad bond market is down 10% for the year to date.
00:41:13.600
The Wall Street Journal said it was the worst bond market since 1842,
00:41:21.180
10-year Treasury now, close to 3%, which, again, doesn't bode well for the markets.
00:41:27.940
Usually the markets perform a lot better with Treasury yields under 3%.
00:41:31.900
So as I said, I think this bubble is starting to unwind.
00:41:39.020
I'm almost, and I say almost because it's hard for me to feel sorry for Powell,
00:41:44.120
but I'm almost starting to feel sorry for him because, you know, he's got a very difficult challenge.
00:41:49.700
It's like he's trying to land a plane here without an engine.
00:41:56.340
But there's a lot of extraneous circumstances making it difficult for him.
00:42:00.220
We have an executive branch that is spending money like it's going out of fashion.
00:42:05.640
We've got central banks selling off dollars now to 25-year lows.
00:42:10.400
There's a lot of ways to crash this plane and only one way to land it safely.
00:42:15.020
So I think we've got some tough times ahead, unfortunately.
00:42:18.340
Well, that is an apt image because what the Fed wants is to get a soft landing.
00:42:23.740
And soft landing meaning they avoid some terrible recession or all sorts of economic problems.
00:42:28.820
So what do you think the likelihood is of that?
00:42:33.220
Even in perfect conditions, this soft landing, and I could call it the proverbial soft landing
00:42:39.480
because I don't think from this circumstance it's ever been achieved before.
00:42:44.540
Look, our best chance, I think, is synergy, right?
00:42:47.800
We need cooperation, we need synergy, and an executive branch and a Fed that are working
00:42:56.780
We've got an administration, like I mentioned, trying to push through massive spending packages.
00:43:01.840
And what's concerning is they're not even being truthful, right?
00:43:05.660
They were telling the American people, look, this is anti-inflationary, it's going to lower
00:43:11.340
And even if they were working hand in hand, like I said, it's going to be difficult.
00:43:16.160
But look, to break it down, we need to get debt, we need to get spending under control,
00:43:24.960
We need to rebuild faith in the U.S. dollar as a meaningful global reserve again.
00:43:30.780
But again, the policies they're concerning, we're weaponizing our dollar, we're forcing
00:43:35.480
Russia and China now to look for alternatives, which they're doing with priority.
00:43:42.900
And that, I think, is going to be hard for the Fed, too.
00:43:46.960
Look, they need to raise rates aggressively to do it, right?
00:43:51.640
But they're so concerned about crashing the markets, they're sort of stepping it up.
00:43:58.480
Even if they were to get aggressive, even if Powell was to turn into Paul Volcker, I'm
00:44:05.120
Volcker had rates at 15% the last time inflation was today's level.
00:44:15.360
So if we were to raise rates too high, debt service payments would be not feasible.
00:44:20.700
So the chances of a soft landing here, I think it's going to be very tough.
00:44:25.060
So I think people need to try and look at how they can weather the storm.
00:44:28.780
That's such an important point with the debt, because the only reason that we can afford all
00:44:32.180
this debt and we keep taking all of that is because we're not really paying a whole lot
00:44:36.700
But the minute those rates go that high, then we're in big trouble.
00:44:39.200
So, OK, so you're saying we need to get spending under control.
00:44:52.580
I suspect your answer is the same answer that I would have.
00:45:01.720
But look, I think the key is to understand the issues, which is why shows like this are
00:45:08.680
And I think once you understand the issues, then the solutions start to present themselves.
00:45:12.980
There was an interesting quote from the president of the National Bank of Poland, and he summarized
00:45:20.660
He said gold is not directly linked to any nation's economy and can withstand global unrest
00:45:30.220
Russia, after we sort of took them off swift, we destroyed their currency.
00:45:34.460
They pegged oil to gold prices and, of course, stabilized the currency.
00:45:49.080
As negative as these things are for people holding stocks and bonds, they're very positive
00:45:54.880
drivers for safe haven assets like gold and silver.
00:46:03.420
So they're conducive for the climate they're in.
00:46:06.020
So I think for individuals, it's just a case of hedging some of your exposure so that if we
00:46:10.940
do see broad corrections in the market, we see inflation eroding buying power.
00:46:15.480
At least there's a portion of your portfolio that can grow in that climate and mitigate.
00:46:20.620
So it's just about diversification and making sure people are hedged.
00:46:24.340
And as long as you are, you can weather this storm.
00:46:26.920
I joked, actually, when Birchgold first came on the show a long time ago, I said, now I
00:46:31.620
know that I've made it as a conservative broadcaster because Birchgold has been a really great supporter
00:46:40.280
There's a reason why conservatives generally really like to diversify our portfolios with
00:46:46.620
And it's because of all the things that you've just stated.
00:46:48.600
So if you want to get a free info kit, no obligation whatsoever, text Knowles right now
00:46:56.600
Something tells me probably some people now are kicking themselves and wish that they texted
00:47:00.900
to get that info kit a few weeks ago or a few months ago.
00:47:08.500
Philip, thank you so much for coming on and helping to clarify this.
00:47:17.480
As Andrew Klavan likes to quote Ernest Hemingway as pointing out, things happen gradually, then
00:47:24.060
And big economic problems can happen gradually, and then suddenly, then all at once.
00:47:31.140
Probably the craziest story of the day, we don't have time to really get into it, is that there
00:47:38.260
Not just a minor baby formula shortage, like a really, really big one.
00:47:42.180
Like 40% of all baby formula products nationwide are currently out of stock, according to data
00:47:51.020
Libs are blaming this on a recall of products from one plant by this one group, Abbott Nutrition.
00:47:59.240
Some people are saying, well, just have the mothers breastfeed.
00:48:01.320
Not all mothers can breastfeed, not all babies will latch, and sometimes the supply is not
00:48:08.140
This is a starvation problem right now for the most vulnerable people among us.
00:48:14.860
It's not just because this one plant went down.
00:48:16.660
It's because of the horrible economic turmoil that our politicians foisted on us by shutting
00:48:22.120
down the whole damn world for a cough for two years, and by disrupting the supply chain,
00:48:26.160
which disproportionately hurts industries such as baby formula.
00:48:29.680
This is a big, big economic problem that's going to have massive cultural effects, and
00:48:35.120
the Libs are calling it a conspiracy theory, and they don't want to talk about it.
00:48:38.080
When people were reporting on this a couple of weeks ago, they said, no, no, fake news,
00:48:46.920
Time to prepare ourselves, time to be serene but firm and fight back because things could
00:48:54.260
get, things could be changing gradually and then suddenly.
00:48:57.640
I'm Michael Knowles, this is The Michael Knowles Show, see you tomorrow.
00:48:59.720
If you enjoyed this episode, don't forget to subscribe.
00:49:08.840
And if you want to help spread the word, please give us a five-star review and tell your friends
00:49:14.240
We're available on Apple Podcasts, Spotify, and wherever else you listen to podcasts.
00:49:19.480
Also, be sure to check out the other Daily Wire podcasts, including The Ben Shapiro Show,
00:49:24.000
The Andrew Klavan Show, and The Matt Walsh Show.
00:49:26.280
The Michael Knowles Show is produced by Ben Davies, executive producer Jeremy Boring,
00:49:31.300
supervising producer Mathis Glover, production manager Pavel Vidovsky, editor and associate
00:49:36.600
producer Danny D'Amico, associate producer Justine Turley, audio mixer Mike Coromina, and
00:49:45.180
The Michael Knowles Show is a Daily Wire production, copyright Daily Wire 2022.
00:49:48.860
Today on The Ben Shapiro Show, Joe Biden comes up with an odd label to attack his political
00:49:56.480
Plus, the White House encourages protesters to break the law by descending on the homes
00:50:00.080
of Supreme Court justices, and the Treasury Secretary is now very much in favor of abortion