Valuetainment - ＂Trump Doesn't Give A Sh#t!＂ - Trump BATTLES Jerome Powell As Fed Renovations Go Over Budget

00:00:00.000 Jerome Powell got a visitor, and his visitor's kind of a big deal of a guy, pretty powerful guy,

00:00:06.220 a guy named Donald J. Trump shows up to kind of see what's going on with the federal building.

00:00:11.640 And it's one of the most awkward moments he's had with anybody else.

00:00:16.800 And he says, wow, so you guys spend how much money on this?

00:00:20.700 Well, you spend, no, it's $3.1 billion.

00:00:22.580 No, it's not. No, it's not.

00:00:24.240 Rob, can you play that first clip of them two together, if you know which one I'm talking about?

00:00:28.460 This is Jerome Powell having a visit by President Trump with their hard hats, looking amazing.

00:00:34.380 I'm sure the president loves wearing that hard hat.

00:00:36.520 Go ahead, Rob.

00:00:37.940 One up a little bit, or a lot.

00:00:40.980 So the 2.7 is now 3.1.

00:00:44.260 I'm not aware of that.

00:00:45.420 Yeah, it just came out.

00:00:47.380 Yeah, I haven't heard that from anybody.

00:00:50.660 Yeah, it just came out.

00:00:55.240 I know it's at about 3.1 as well.

00:00:57.700 3.1.

00:00:58.460 This came from us?

00:01:00.560 Yes.

00:01:01.820 I don't know who does that.

00:01:03.320 This came from us?

00:01:05.600 You're including the Martin renovation.

00:01:07.180 You just added in a third building is what that is.

00:01:11.420 That's a third building.

00:01:12.300 It's a building that's being built.

00:01:14.700 No, it was built five years ago.

00:01:16.820 We finished Martin five years ago.

00:01:18.540 It's part of the overall work.

00:01:21.020 So we're going to take a look.

00:01:25.020 We're going to see what's happening.

00:01:27.040 And it's got a long way.

00:01:28.880 Do you expect any more additional crossover ones?

00:01:32.160 Don't expect them.

00:01:33.440 We're ready for them.

00:01:34.820 But we have a little bit of a reserve that we may use.

00:01:38.020 But no, we don't.

00:01:38.900 We expect to be finished in 2027.

00:01:41.780 We're well along.

00:01:42.600 His hair is still perfect.

00:01:43.580 Look at that.

00:01:44.100 Bam.

00:01:45.020 Nice to take these off every once in a while when we're not in.

00:01:49.580 Scott, what's going on here?

00:01:51.360 Also, they took a screenshot of that and put it on the front page of the Wall Street Journal of Trump standing there with Powell in the hard head.

00:01:57.000 I mean, just an iconic.

00:01:58.060 I don't think he's going to fire Powell, actually.

00:02:00.560 He's got like eight months to go.

00:02:02.200 I think he's just going to spend every day making him as miserable as possible for the next eight months.

00:02:06.980 I don't think he's going to fire him.

00:02:08.260 But misery, misery, misery is what's going on.

00:02:11.580 But honestly, look, there's been a lot of debate about these numbers.

00:02:14.440 I follow this guy and have known him for years, a guy named Mark Paoletta, who's with the Office of Management and Budget, at Mark Paoletta on X.

00:02:23.800 So after all this back and forth, he tweets out the actual document showing the number.

00:02:29.300 Trump was right. 0.50

00:02:30.540 Trump was right about the cost and the cost overruns here, and Powell's trying to dispute it.

00:02:35.340 Who tweeted this with the number?

00:02:36.340 He's got a guy's name's Mark Paoletta.

00:02:38.540 How do you spell his last name?

00:02:39.640 P-A-O-L-E-T-T-A, Mark Paoletta.

00:02:43.740 Just at Mark Paoletta.

00:02:44.940 Yep.

00:02:45.520 And so if you look at his posts.

00:02:48.200 A little bit lower.

00:02:48.900 It's a chart.

00:02:49.560 Yeah, it's a chart.

00:02:50.380 And he's like, here's the actual documents, because Democrats kind of went crazy about this.

00:02:56.500 But he actually has the facts.

00:02:59.060 And so Trump showed up over there, I think mostly to make Powell miserable, but also to tell the American people he's got an eye on what's going on in the government and how much money we're spending over there.

00:03:06.860 So anyway.

00:03:07.400 So he was right about the $3.1 billion.

00:03:10.640 Yes.

00:03:10.920 So a part of this, Tom, I mean, Scott, you know, has got a point that he's just trying to get on their skin.

00:03:16.680 Maybe he's trying to push him to want to resign.

00:03:18.700 Yeah, keep going there.

00:03:19.220 If you keep going.

00:03:19.900 Yeah, right there.

00:03:20.460 Yeah.

00:03:21.180 There it is.

00:03:21.540 Okay.

00:03:21.800 So zoom in.

00:03:22.560 Oh, man.

00:03:23.080 Receipts are so inconvenient.

00:03:24.940 But if you read his post, you can see it.

00:03:27.460 Read his post, Rob.

00:03:28.440 Close that.

00:03:28.940 Let's read his post.

00:03:29.760 I can see what he's saying.

00:03:31.060 If you can.

00:03:31.840 There you go.

00:03:32.360 If you can zoom in a little bit.

00:03:33.320 You're absolutely wrong, Norm Ornstein.

00:03:36.780 Trump 45 had nothing to do with Federal Reserve of General Motors on $1 billion cost over General Motors.

00:03:41.080 The 2022 budget was $1.4 billion for the current building in 1951 Constitution Avenue construction project.

00:03:49.060 Then it was adopted in November 2021.

00:03:50.540 By 2025, the FRB budget shows costs for his project are now $2.5 billion, a more than $1 billion cost overrun for the current project, an 88% increase.

00:04:03.380 This all came after Trump 45 and on Biden's watch.

00:04:06.500 Final project was approved in September 2021.

00:04:09.700 Do some research before spewing your despicable lies and smear.

00:04:14.300 Tim Scott is a superb senator on Patriot.

00:04:16.060 He is right to press your own problems.

00:04:17.360 That's outrageous mismanagement.

00:04:18.680 President Trump was 100% correct in his numbers.

00:04:21.580 The cost for the project is now $3.1 billion.

00:04:24.480 This includes the, how do you pronounce that word?

00:04:27.180 Eccles, Martin, and 1951 building, which are all part of the comprehensive overhaul and all listed on the FRB.

00:04:33.760 Go a little bit lower, Rob, to see that $3.1.

00:04:37.700 There you go.

00:04:39.060 Yeah, Payoletta, by the way, he's the general counsel at the Office of Management and Budget.

00:04:43.760 This is one of the smartest lawyers in Washington, D.C.

00:04:46.220 He works for Russ Vaught.

00:04:47.420 You do not want to argue about the receipts with Mark Payoletta.

00:04:50.540 I'm just telling you.

00:04:51.120 I've known this guy for years.

00:04:52.460 So he's that guy.

00:04:53.200 He's that guy.

00:04:54.200 So, Tom, is this $3.1 billion of upgrades to the building, or is it a brand spanking new building they're building?

00:05:01.280 Well, there's a little bit of a debate on that.

00:05:03.020 Basically, when you have government buildings that get completely refurbished, like you go back and the whole Capitol Dome was completely refurbished.

00:05:13.020 But it's the bones of our historical buildings usually stay intact, and we drew tremendous renovation to them.

00:05:20.360 And when you read about all the renovations that are being done here, there are elevators that go up to, like, one office.

00:05:25.900 They go up to a certain private office.

00:05:27.640 And so there's a variety of things that go in there that you say to yourself, as an American, do we really need all this for the Fed?

00:05:33.040 But this is the historic buildings in Washington, and let's face it, it costs more to renovate them than a typical building because we're not tearing anything down.

00:05:41.820 You're sort of cleaning out and then building from the inside out.

00:05:44.760 Now, I haven't seen the great detail on it, but I trust OMB.

00:05:48.420 OMB is usually you typically have good patriotic individuals that are giving the media and the citizen the straight scoop out of OMB, and I believe that's what's happening here.

00:06:02.440 And so what you have here is a complete rebuild, and that was very disingenuous, what Powell said.

00:06:08.040 And I'm usually appreciative of Powell's measured thing, but it'd be like him saying, well, it didn't cost $100,000 to paint the White House.

00:06:16.460 It only cost $50,000.

00:06:17.520 Wait a minute.

00:06:18.320 Well, the other $50,000 was the West Wing.

00:06:20.720 The West Wing's part of the White House, dude.

00:06:22.600 It's like part of it.

00:06:23.460 It's like trying to say, you see what I mean?

00:06:25.360 Yeah, for sure.

00:06:25.840 Oh, no, oh, no, honey.

00:06:26.560 But is this $3.1 billion of upgrades, or is it a new building?

00:06:30.920 Rebuild and upgrades of the existing building.

00:06:33.320 But nothing new.

00:06:35.540 That's the question.

00:06:36.740 No, the whole inside is going to be very, very new, but all the outside.

00:06:39.820 But this is not a brand spanking new building they're building.

00:06:42.160 No, no, no.

00:06:42.500 Okay, can you go to Apple's headquarters, Rob?

00:06:44.320 The outside of the Fed will still look like the outside of the Fed.

00:06:47.380 Type in Apple headquarters $5 billion.

00:06:48.760 Okay?

00:06:49.200 Oh, I love this.

00:06:50.080 Apple headquarters $5 billion.

00:06:51.900 So let me get this straight.

00:06:53.240 Go to images if you could.

00:06:54.400 Just go to images, and let's see the headquarters.

00:06:56.920 That ridiculous headquarters costs them $5 billion to make.

00:07:00.940 And by the way, that has roughly 12,000 to 15,000 people working there.

00:07:05.240 It's a free market company, right?

00:07:07.300 It's a publicly traded company.

00:07:09.100 $5 billion.

00:07:09.940 This is the most expensive headquarters ever built, but it's a new build.

00:07:14.100 And by the way, there's about 12,000 to 15,000 people that work there.

00:07:16.900 I believe the building that they're updating and upgrading, only 2,800 people work in that building.

00:07:22.480 At $3.1 billion of upgrades?

00:07:26.220 Like, what are you adding to it?

00:07:27.980 Even the second most expensive headquarters that was built, if I'm not mistaken, I saw this yesterday, was Goldman Sachs, the new one in New York.

00:07:36.520 We were there just a few months ago.

00:07:38.520 That's a 44-story one for $2.1 billion.

00:07:43.240 Okay?

00:07:43.900 Then you have a couple other ones that was done.

00:07:45.880 Devon PNC did one for $400 million.

00:07:47.840 How the hell are you spending $3.1 billion for a Federal Reserve building upgrade?

00:07:54.880 I think it happens two ways.

00:07:56.640 Nobody usually goes broke taking a contract with the Department of Defense or the federal government.

00:08:02.220 They're ripe with corruption, and these contracts are usually quite bloated.

00:08:06.520 And so, number one, I'd be willing to take a look at it if you had an independent auditor that took a look at exactly what you're talking about

00:08:13.780 and looked at the price per square foot and what you're doing, and I think what you're going to find is just a horrible gouge of the American taxpayer

00:08:23.380 to rebuild basically the inside of the Fed and the kind of contracts that go with it.

00:08:28.580 And if he thinks it's bad, if he thinks he's having a bad day, he's about to be in the news having an even worse day

00:08:34.180 because around 4 in the afternoon tomorrow, Trump's going to be on his butt again

00:08:38.000 because he's going to announce he's not lowering interest rates tomorrow.

00:08:41.500 You don't think he will tomorrow?

00:08:42.360 No, I don't think he will at all tomorrow.

00:08:44.640 Everybody wants a quarter point.

00:08:45.980 They say there's some unemployment issues, there's things going on.

00:08:48.560 Other people say, no, inflation in the stock market and other things seem to point to other things.

00:08:52.620 So they're probably going to stand pat until September 18th, 19th or something.

00:08:56.540 And if he does that, he's going to go from being in the news for this to tomorrow, Trump on him all over again.

00:09:03.040 I think a lot of government buildings are old, and I fully buy that there needs to be renovations of them

00:09:09.900 because they're not secure, they've got asbestos, they need new – whatever.

00:09:14.120 I get that.

00:09:15.280 But I think this is a story about management.

00:09:17.800 So you say, we're going to renovate this.

00:09:19.840 And who's actually managing the day-to-day, line-by-line details of it?

00:09:25.780 You know, Trump is a builder.

00:09:27.460 He's built things.

00:09:28.400 He's renovated things.

00:09:29.340 He's refurbished things.

00:09:30.460 And I think the story here is the official Washington, the people in official Washington who you would trust to manage a project like this,

00:09:38.000 functionally have no interest in managing it, have no idea how to manage a project like this,

00:09:42.500 and all of a sudden, voila, it's $3.1 billion.

00:09:45.100 And so to me, this is another story about the rejection that the American people put on official Washington twice with Trump,

00:09:52.280 which is to say we don't really trust how you manage things, so we bring in somebody from the outside who has some – this looks like a business guy to us.

00:09:58.900 And to me, that's the optics of this.

00:10:00.420 A guy who knows how to manage things shows up and talks to a guy who clearly didn't pay that close of attention to it,

00:10:06.960 and all of a sudden we got $3.1 billion on a sheet here.

00:10:09.980 So when you're going through this, Adam, I'm going to come to you.

00:10:12.080 On this story, you'll hear, you know, Powell pushes back on Trump's cost claim, which we just watched right now.

00:10:17.340 Then you see Trump pats him in the back, right?

00:10:20.540 I don't know if you've seen that one, and he puts his tongue out.

00:10:22.860 Is this the one, Rob?

00:10:23.700 Yes.

00:10:24.120 Go ahead, Rob.

00:10:24.620 Watch this.

00:10:25.160 Are there things the chairman can say to you today that would make you back off some of the earlier criticism?

00:10:31.300 Well, I'd love him to lower interest rates.

00:10:34.220 Other than that, what can I tell you?

00:10:35.600 Let's knock them over. 0.97

00:10:37.120 So it's very simple.

00:10:39.100 I'd love him to lower interest rates.

00:10:41.780 Other than that, you know, it's all good.

00:10:43.860 And then later on, Powell says they were honored by Trump's tour of the building site.

00:10:50.000 They were honored.

00:10:50.940 Adam, is this Trump sitting there saying shit?

00:10:54.600 It's like a CEO having a five-year contract on an employee or a three-year contract on an employee,

00:10:59.780 finding a way to have him leave independently on a zone without firing him to pay unemployment.

00:11:04.600 It's kind of like, look, man, if you don't do this, you're going to get investigated for fraud,

00:11:07.580 for spending all this money on this property you shouldn't have done.

00:11:10.300 It's either you're going to be investigated for fraud, and your legacy is going to look like shit,

00:11:15.420 or number two, step out the way and let me put Besant or whoever else is going to be in place of you.

00:11:20.300 Which one do you think it is?

00:11:21.080 Well, when the cameras are rolling, Jerome Powell is completely out of his league next to Donald Trump.

00:11:26.140 Because why?

00:11:27.140 Donald Trump is a pig.

00:11:29.020 And what do I mean by that?

00:11:30.200 You know, they say never wrestle with the pig because you're both are going to get dirty,

00:11:33.980 and the pig loves it.

00:11:36.000 Trump, when he goes live on air and he has someone sitting next to him,

00:11:40.940 there's no telling what he's going to say, no saying what he's going to do.

00:11:43.580 We saw what he did with Zelensky.

00:11:44.680 He don't have the cards.

00:11:45.520 He dressed them down, Zelensky.

00:11:46.980 But, but, but they don't have to do.

00:11:48.220 You saw when the South African president showed up and he's like, yeah, you're doing a white genocide.

00:11:52.200 Let's take a look.

00:11:52.880 Roll the tape.

00:11:53.660 Whoa, what?

00:11:55.340 Jerome Powell, just like that.

00:11:56.940 Your favorite scene when you interviewed Trump and you talked about, I loved your real life sort of vlog when you had Nancy Pelosi and Chuck Schumer.

00:12:05.260 And he's like, I'll own the government.

00:12:07.380 Shut it down.

00:12:08.320 I don't care about you.

00:12:10.040 Sloppy Nancy and sloppy Chuck. 1.00

00:12:11.660 He doesn't give a shit.

00:12:13.060 But he will completely expose and just call out everybody live in effect.

00:12:18.960 And he doesn't care how bad it makes him look himself.

00:12:22.020 As long as the other person looks bad.

00:12:23.920 Scott, is this going to work on Jerome Powell?

00:12:26.780 I hope it does.

00:12:27.780 I mean, but let me tell you a story.

00:12:29.880 I've written a book.

00:12:31.020 It comes out in November.

00:12:32.000 It's called Revolution of Common Sense.

00:12:34.120 It's about Trump.

00:12:35.100 It's about the first hundred and something days.

00:12:36.880 I interviewed Scott Besson.

00:12:39.520 And over Besson.

00:12:40.520 I like him a lot.

00:12:40.880 I like him a lot.

00:12:41.580 All-star.

00:12:41.920 Over his desk, there is a picture of Abraham Lincoln.

00:12:45.060 I said, is that your favorite Republican?

00:12:46.900 He said, no.

00:12:48.340 Teddy Roosevelt.

00:12:49.900 He said, have you ever read about Teddy Roosevelt?

00:12:52.200 The people who knew him and who wrote about him.

00:12:55.340 They said he could walk into a room and just overwhelm you with his personality.

00:13:01.060 That's Trump.

00:13:02.820 Besson is telling me in this story that he has seen Donald Trump in interpersonal situations.

00:13:08.800 Absolutely overwhelm people with his interpersonal ability.

00:13:13.860 And so when I see him doing this thing with Powell, I think he does it with congressmen.

00:13:20.400 I think he does it with senators.

00:13:21.280 I think he does it with people he wants to influence.

00:13:23.560 You get in the proximity of this guy and he kind of overwhelms you.

00:13:27.920 Now, I don't know if it's going to work on Powell.

00:13:29.220 So he's either going to be overwhelmed and cut rates or he's going to be embarrassed and humiliated for the next eight months.

00:13:35.360 Either way, that's what, to me, that is part of the innate talent of Trump is the ability to overwhelm you.

00:13:42.560 And the analog to this, according to Scott Besson, is Teddy Roosevelt.

00:13:45.600 And by the way, Teddy Roosevelt, one of the great stories, he had such a tough life with all the losses he had in his personal life.

00:13:54.540 For him to be who he became later on, it's one of the best stories we have in America.

00:13:58.440 But, yeah, I mean, Wall Street Journal says the story, right, that Trump perfects the art of making powerful people squirm on camera.

00:14:06.360 Rob, do we have a clip on this?

00:14:07.920 It's kind of what Adam had alluded to, the three clips of the South African president, Zelensky, and then what he just did with Jerome Powell.

00:14:15.500 How long is that, by the way?

00:14:16.740 Is it a long clip or is it a short clip?

00:14:18.400 I can play you a short clip.

00:14:19.880 Yeah, let's see which one you got.

00:14:21.280 This is him with Zelensky where he checks Zelensky and tells him, you're going to get us into World War III.

00:14:25.320 Go for it.

00:14:25.740 Let's see this one.

00:14:27.580 Don't tell us what we're going to feel.

00:14:29.300 We're trying to solve a problem.

00:14:31.020 Don't tell us what we're going to feel.

00:14:32.620 I'm not telling you.

00:14:33.500 Because you're in no position to dictate that.

00:14:35.680 Remember this.

00:14:36.280 You're in no position to dictate what we're going to feel.

00:14:41.320 We're going to feel very good.

00:14:42.640 You will feel influenced.

00:14:43.500 We're going to feel very good and very strong.

00:14:45.820 You will feel influenced.

00:14:47.040 You're right now not in a very good position.

00:14:49.640 You've allowed yourself to be in a very bad position.

00:14:53.300 I love it.

00:14:53.800 There's something very annoying about Zelensky.

00:14:57.180 There's something very annoying about Zelensky.

00:14:58.640 Once a year, we host a conference called the Vol Conference.

00:15:02.080 We're expecting nearly 12,000 people here at the event.

00:15:07.120 Rob, you can play the clip and just turn off the audio while I'm going through it.

00:15:10.500 And we have special guest speakers that will be there this year.

00:15:12.960 You already know Tony Robbins.

00:15:14.420 If you've never seen Tony Robbins live, you've got to do whatever you can to come to this event.

00:15:18.700 He's going to be speaking for a couple hours and doing a Q&A.

00:15:21.380 And then we have Martha Stewart. 0.57

00:15:22.380 We were able to get Martha Stewart to agree to come out. 1.00

00:15:24.620 The first original influencer that became a billionaire in 99.

00:15:28.580 She's going to share her tips on what she did.

00:15:30.060 She's got a documentary that came out.

00:15:32.260 Everybody I see, the ladies are like, oh, my God, did you watch the documentary? 1.00

00:15:35.600 This is your chance to get a chance to have an opportunity to meet her.

00:15:39.880 And then David Falk, Michael Jordan's agent who did all those big deals but will be at the Vol Conference.

00:15:43.820 Three days, 200-page manual we'll go through together.

00:15:46.840 Best place for networking.

00:15:48.160 Bring your spouse.

00:15:48.860 Bring your business partner.

00:15:49.700 If you haven't yet registered, go to thevaultconference.com or that QR code right there.

00:15:55.740 Get registered.

00:15:56.360 Come spend three and a half days with us September 8th through the 11th at the Gaylord.

00:16:02.840 And don't tell me you'll do it next year.

00:16:05.020 I'm so tired of 25 years of hearing everybody saying next year, next year, next year.

00:16:10.560 Do it now.

00:16:11.620 Spend three and a half days with us.

00:16:12.920 We can't wait to see you there.

00:16:14.060 If you enjoyed this video, you want to watch more videos like this, click here.

00:16:16.760 And if you want to watch the entire podcast, click here.

00:16:19.700 Do it now.

00:16:20.720 I'll see you there.

00:16:21.240 I'll see you there.

00:16:24.680 I'll see you there.

00:16:25.140 Bye.

00:16:26.000 Bye.

00:16:26.360 Bye.

00:16:26.540 Bye.

00:16:27.360 Bye.

00:16:27.900 Bye.

00:16:28.540 Bye.

00:16:28.860 Bye.

00:16:29.240 Goodbye.

00:16:29.640 Bye.

00:16:29.980 Bye.

00:16:30.980 Bye.

00:16:31.540 Bye.

00:16:31.780 Bye.

00:16:32.620 Bye.

00:16:33.580 Bye.

00:16:34.400 Bye.

00:16:34.820 Bye.

00:16:36.600 Bye.

00:16:36.940 Bye.

00:16:37.640 Bye.

00:16:37.980 Bye.

00:16:39.020 Bye.

00:16:40.060 Bye.

00:16:40.440 Bye.

00:16:41.040 Bye.

00:16:41.340 Bye.

00:16:41.600 Bye.

00:16:41.700 Bye.

Valuetainment - July 29, 2025

＂Trump Doesn't Give A Sh#t!＂ - Trump BATTLES Jerome Powell As Fed Renovations Go Over Budget

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