April 8, 2025 • 48 mins
THE WAR ROOM WITH STEPHEN K. BANNON, APRIL 8TH, 2025
GUESTS:
SPENCER MORRISON
PETER SCHIFF
SHEMANE NUGENT
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Episode Transcript
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Speaker 1 (00:02):
This is the primal scream of a dying regime.
Speaker 2 (00:07):
Pray for our enemies because we're going to medieval on
these people.
Speaker 1 (00:12):
There's not got a free shot.
Speaker 2 (00:13):
And all these networks lying about the people, the people
have had a belly full of it.
Speaker 1 (00:18):
I know you don't like hearing that. I know you
try to do everything in the world to stop that,
but you're not going to stop it. It's going to happen.
Speaker 3 (00:23):
And where do people like that go to share the
big line?
Speaker 4 (00:27):
Mega media?
Speaker 5 (00:28):
I wish in my soul, I wish that any of
these people had a conscience.
Speaker 1 (00:34):
Ask yourself, what is my task and what is my purpose?
Speaker 5 (00:37):
If that answer is to save my country, this country
will be saved.
Speaker 6 (00:44):
Warm use your host, Stephen k MAA.
Speaker 2 (00:52):
It's Tuesday, eight April and the Overlord twenty twenty five A.
I'm gonna go back to Forrest in a moment, because
you know this situation of the Chinese Commuties Party may
crab sideways. Massive naval exercise over the past couple of
days around Taiwan with the People's Liberation Navy, I think
(01:13):
trying to send the signal on a message to the
Americans that don't think you can defend Taiwan with the
seventh Fleet because we're a lot closer and are bringing
a lot of firepower.
Speaker 1 (01:24):
Sort and get back to for us.
Speaker 2 (01:26):
On that tonight, there's a very special event and it's free,
and it's free for the world, and it's sponsored by
one of my favorite news sites and websites have got
amazing analysis on it, amazing articles they link to amazing
pieces that would be of course zero Hedge. So at
seven pm tonight, if we can put the graphic up
(01:48):
and there are a lot of people that worked on
this to make it happen, and I want to thank
them for reaching out to us to be part of
helping to pull it together. But tonight at seven pm
on zero Hedge, totally free, there will be a debate
between the great Peter Schiff, one of the smartest guys
on Wall Street, and Spencer Morrison, the author of Restoring.
(02:11):
Spencer joins us, we're trying to get We're trying to
get Peter up, and Peter's like me on making skypework,
so we're struggling.
Speaker 1 (02:17):
He'll be up in a second.
Speaker 2 (02:18):
We hope Spencer, this is will get first of all,
give us your assessment. I don't want to get too
much into the debate because I want people to see it.
And we're also going to be doing a pre game
on this in our six o'clock hour leading up, and
it really will transfer you guys over to zero hedge
at seven. I think we're also Grace and we're going
to try to stream it ourselves off of zero hedge
(02:41):
because this is a big deal, and I think only
zero Hedge, which has some much great analysis about Wall
Street and other things that are happening global capital market,
is a.
Speaker 1 (02:50):
Perfect place to have it.
Speaker 2 (02:52):
So tell me give me your assessment of the last
couple of days, particularly the day of the stock global
stock markets kind of come back and President Trump is
dug in and not moving and now they're all stacked up.
He just saw his true social about South Korea that
Japanese are coming in.
Speaker 1 (03:07):
So where do you think we stay in, Spencer.
Speaker 7 (03:10):
Well, I think we're in a really great position. And
I think when I was on the show with you
on Liberation Day, I think we discussed this and we
sort of called it. The markets are going to fluctuate,
they're going to bounce back, and I think I made
the point and I'll make it again if President Trump
said he was going to cut income tax, the mainstream
media would say, oh my god, the economy is going
to crash.
Speaker 3 (03:29):
We're losing two hundred and fifty.
Speaker 7 (03:30):
Billion dollars worth of GDP because that's how much it
cost to do to the taxes every year. Right, So,
anytime you have a big policy shift, you're going to
have economic dislocation. And sometimes it's short term, sometimes it's
medium term. But I think what President Trump is doing
here is he's shifting the economy from consumption and financialization
(03:50):
of the economy over to an industrialized economy and a
production based economy. So there's going to be shifts, and
you know, I think it's positive that the market responding,
but I don't think the market is to be all
and end all in terms of a barometer up to
the economic health of America. I mean, there's there's so
many other metrics we have to look at. You know,
(04:10):
do people have money to support their families? That's more
important than the than the stock market to me.
Speaker 2 (04:19):
The given that this was announced in the close of
the market last Wednesday, and tomorrow's really the day that
the reciprocity kicks in. One week into this are you
feeling pretty good?
Speaker 7 (04:33):
I'll tell you what I'm feeling amazing. I think that
there's a lot of nations that are that are in
the process of coming to the table. I think many
more are going to come to the table. I'm excited
to see what the President can do in terms of
working out new deals. And you know, if these new
deals are structures in such a way that benefit both
players by lower overall trade barriers, I think that's great.
I think that's going to, you know, cause a lot
(04:55):
of other nations to step forward. I think this is
going to be great for American industry. It's going to
raise exports and ultimately it's going to reshore you know,
a large portion, I hope, of the economic production that's
been shipped abroad to China, Mexico, places like that.
Speaker 2 (05:13):
Okay, tonight, it's seven o'clock on the Great Site. Zero
Hedge is going to be a debate between Spencer Morrison
and the Great Peter Shift.
Speaker 1 (05:21):
Peter joins us right now.
Speaker 2 (05:23):
Peter, before I get into anything, I don't want to
give them too much of the debate. We're going to
have a whole hour of pregame today on our six
o'clock show before because I'm just I'm so excited about
having two heavyweights actually lay out these two plans. But
since you're such a prominent thinker of capital markets, just
give us where you think we are overall with the
American economy. You know, you got the reconciliation we're working on, obviously,
(05:46):
this big trade war that President Trump's engaged in.
Speaker 1 (05:50):
What's Peter Shift's take on things.
Speaker 5 (05:53):
Well, you know, I think we're in a very bad
place as an economy. You know, I'm sympathetic with the president.
You know, I supported them. I urged my followers to
vote for him, not because I wanted him to do
these parris but because I thought he was much better
than the alternative.
Speaker 3 (06:10):
But Trump understands that.
Speaker 5 (06:14):
Yes, over the last twenty years or so, in particular,
we've hollowed out the middle class, we've lost our industrial base,
We've grown poorer as we've accumulated debt and the rest
of the world has accumulated assets. But what Trump doesn't
seem to get and a lot of people that surround him,
is the current nature of the economy and how it's
(06:36):
this big bubble has been inflated.
Speaker 3 (06:39):
We run these huge deficits.
Speaker 5 (06:40):
You know, government deficits a couple of trillion dollars a year.
The Fed prints a lot of money, and so Americans
get a lot of money to spend as a result
of these deficits. But the problem is Americans aren't making
the products that these Americans want to buy, and so
if we just had to spend our money here, you know,
prices would have gone through the roof.
Speaker 3 (07:01):
But what we've been able to do is.
Speaker 5 (07:03):
We have an escape valve for the inflation, and it's
the rest of the world. Because they have lots of capacity,
lots of factories, they produce all the stuff. And so
what Americans do is they take that money and they
go shopping and we buy all sorts of stuff. Over
a trillion dollars worth of merchandise comes in every year
that we didn't have to produce. We didn't have to sacrifice,
(07:24):
we didn't have to save to make the capital investments,
we don't have to deal with the pollution. We just
get all the stuff and all the work is done abroad.
So we send our money abroad and they send their
stuff here. Now the cycle gets even better for us
in the short run because foreigners take the dollars that
they earned selling us the stuff that we didn't have
(07:45):
to make, and they buy our financial asset, They buy
our stocks, they buy our bonds, and as a result
of that, our stock market goes up, our bond market
goes up, and so our interest rates go down, and
so everybody thinks they're richer.
Speaker 3 (07:57):
Because stock prices are higher.
Speaker 5 (07:59):
We get to borrow all this cheap money so we
can keep on going further into debt to buy more
foreign products. Now, if that's going to stop, and if
the tariffs may very well stop it by making goods
so expensive that Americans can't afford to import them anymore,
then what's going to happen is the money that we
create stays in America, bidding prices through the roof, and
(08:24):
barners no longer buy our stocks and no longer buy
our bonds, sending interest rates through the roof. We have
a massive economic implosion as the entire service sector economy collapses.
We have another financial crisis because a lot of the
borrowed money can't be repaid. A lot of the stores
have to close down because they no longer have goods
that anybody can afford to buy. We have lots of unemployment.
(08:47):
So in the short run, this is an unmitigated disaster.
The problem is Trump has not prepared the public for
just how bad it's got to get before it's going
to get good. And I don't think we have the
stomach for the financial crisis and the collapse that's coming.
I think we're just going to go back to the
same thing that got us here, which is asking the
(09:08):
FED to cut interest rates and print more money, and
then we risk, you know, what's always been the worst
case scenario, a complete dollar collapse and you know, runaway inflation.
So I think we're very close to the precipice of
that right now.
Speaker 1 (09:23):
Let me ask you, let me just take in a
slightly different direction.
Speaker 2 (09:26):
If you see the because at the same time we're
going through this, they've now talking about these reconciliation bills,
And if you just cut down to the basics of
the reconciliation, one's talking about a four trained dollar inc
the house is I'm about a four trained dollar increase
to the debt sailing.
Speaker 1 (09:44):
The sentence talking about a five trained.
Speaker 2 (09:45):
Dollars my understanding, and it's not you haven't seen the language.
Speaker 1 (09:49):
My understanding.
Speaker 2 (09:50):
That's a two year deal or just gets to pass
the midterm elections sometime into twenty twenty seven. The model
we have there also these deficits, particularly given tax scus
that he's promised the working class on tips and on
social security, that the deficits could be north of.
Speaker 1 (10:08):
Two tree and dollars.
Speaker 2 (10:09):
Is that model does leave aside the leave aside the
trade situation for a second ways got into is the
model that we have right now of just because and
I want to just tell the audience neither the reconciliation
what they're talking about or even in twenty fiscal year
twenty twenty five, because have been no impounments to date,
(10:30):
there has not been outside of outside of USID and DOE,
which were identified by the by the ELI cranes in
the world on fraud. There hasn't been one penny that's
been put over to people to say, actually, this is
where we founded, this where we cut. So you're going
to have a two to two and a half treeon
dollar deficit every year, you're going to get up to
(10:50):
forty two or forty three treeon dollars in debt and
you just continue on.
Speaker 1 (10:55):
Is the basic model we have today.
Speaker 2 (10:58):
Leave a side what he's doing on trade and trying
to bring manyfairbread. Is the model we have today sustainable?
Speaker 3 (11:04):
No, it's completely unsustainable.
Speaker 5 (11:06):
The fact that we've sustained it for so long is
why the problem has gotten so big, and the deficits
will be much larger as we go into a deeper recession,
which I believe we're in, and it's going to get
a lot worse, especially with the tariffs. You know, what
what Trump should be doing right now is telling Congress
that no way will he sign off on this bill.
(11:28):
I would not increase the debt ceiling at all, you know,
Rand Paul says, hey, let's do it by you know,
five hundred million, five hundred billion, not five trillion, and
let's do itus. Yes, yeah, but I would tell I
would use my veto if I was Trump, I would
make it clear to Congress that I am not signing
(11:49):
an unbalanced budget. The buck stops here. We need to
cut government spending right now. We need to balance this budget.
And if you don't balance this budget, I'm vetoing it.
And the only way you're going to pass this increase
in the debt ceiling is with two thirds of both houses,
because I'm not going to be a party to the
destruction of the country. I'm not going to take on
another five trillion in debt because that means another ten
(12:11):
trillion in debt. It's never going to stop. So now
is the time. If we're going to take the pain,
that's pain worth taking. The pain of the tariff is
just pain for pain's sake. It is not going to help.
The tariffs are going to make it worse. But if
we actually force the government to stop spending and we
really get into the root cause of the problem, that's
the kind of pain that I want to sign on for.
Speaker 2 (12:33):
And you're prepared in that regard because he just put
forward a trade and dollar defense budget. You're prepared to
cut defense. You're prepared to say, hey, we got to
cut some medicaid, we got to cut social programs. But
I don't want a ten year or where Scott Beston says,
where it's six and a half or seven percent of
deficit to GDP, where I'm gonna get this down to
three and a half Peter, you're saying, hey, that's not
(12:54):
good enough. I want to plan not over ten years,
but over a year or two to get to a balance.
Speaker 1 (12:59):
Budge, to get to a zero deficit.
Speaker 3 (13:02):
Is that when I'm here sixty I'm sixty two years old.
Speaker 5 (13:04):
I've been around long enough to know that every time
Congress says they're going to cut the depth sit in
the future, they.
Speaker 3 (13:10):
Never do it right.
Speaker 5 (13:11):
They always say, oh, we will have these future spending cuts.
Speaker 3 (13:14):
They kick the can down the road.
Speaker 5 (13:16):
Look, I'm prepared to give up one hundred percent of
my Social Security, you know.
Speaker 3 (13:20):
You know, and a lot of people should say.
Speaker 5 (13:22):
Oh, we don't need any Social Security because the money's
not there and the young people can't afford to pay
the payroll faxes. But we have to reform entitlements, which
means cut entitlements, Medicare, Medicaid, Obamacare, all that stuff. And yes,
we're spending too much money on defense. We need to
spend less on defense. Donald Trump says we should stop
defending Europe. Yes, let's stop defending Europe. Let's bring home
(13:42):
the troops so we can save that money. Let Europe
defend itself. But we need to cut bring the troops
out of Japan. You know, we're broke. You know, we
have thirty six trillion in debt, thirty seven trillion, and
what's worse over the next four years, twenty six trillion
of that debt comes due.
Speaker 3 (13:58):
It matures, and we have to fly yes, and I
don't think they're gonna be there.
Speaker 1 (14:05):
Hangover for one second.
Speaker 2 (14:06):
We're gonn taking a short commercial break Tonight's debate at
seven pm on the great Zero Hedge Peter Shift, Spencer
Morrison on the on trade and tariffs. I'm sure much
much more Zero Head sponsored this. We couldn't be prouder
to help pull this together. And we're gonna drive a
big audience to this tonight. Couse, you got to hear it.
Short commercial break Johnny con takes us out with American
(14:30):
made with American parts. Short commercial break back in a moment.
Speaker 1 (14:37):
You sha already.
Speaker 4 (14:40):
You win in lost show Got America?
Speaker 1 (14:52):
I Got America.
Speaker 4 (15:00):
Use your host, Stephen Kban.
Speaker 2 (15:06):
I can tell you, Peter, the audiences, the war and
Posse is quite excited that you're on one. Thing we
talk about all the time is a difficulty. Scott Besson,
who is a contributor here to wream for years, has
and having to sell I think ten tree in this
year of US government securities, you put in a better perspective.
You're saying it's twenty five trade in over the next
couple of years that bessent has to sell essentially to
(15:28):
foreigners or I guess by ourselves. I mean, how are
we going to do that we're given our financial situation.
Speaker 5 (15:33):
Yeah, well, the worst part about our enormous national debt
is the way we've gone about financing it. Instead of
taking on long term debt selling thirty year treasuries, we've
financed with T bills. It's kind of like people who
have a house. Instead of taking on a thirty year
fixed rate mortgage, they get a one year arm. Now
maybe they make that trade off because the arm is cheaper,
(15:56):
but they're accepting a lot of risk. The person who
does the thirty year fIF he has a payment, he
knows what it's going to be. And so we did
the same thing because by borrowing in the T bill market,
we got lower interest rates. Because if the government had
financed these debts on you know, ten years to thirty years,
it would have pushed those long term interest rates up,
(16:17):
pushed mortgage rates up. The government didn't want to do that,
so the government played Russian Roulette with you know, with
the country by the.
Speaker 2 (16:24):
Short But Peter, but Peter, Peter Yellen Yellen did this.
This is what third world countries do, right, They get
that scame all the time. They basically did they financed short, right,
we don't go along starting go long? We essentially essentially
did we essentially did this go ahead?
Speaker 3 (16:40):
Yeah, it started with Robert Rubin.
Speaker 5 (16:42):
Under Clinton, he started the shortening of the maturities of
the national debt to bring down the interst rate expense
by by borrowing short So the reason I'm saying we
have to do twenty six trillion is over the next
ten years, twenty six trillion of that short term debt matures,
and a lot of that debt is at much lower
rates than the current rates. And as it matures, we
(17:05):
have to resell it, right, and somebody has to want
to buy it. Because not only have foreigners supply to
America with the goods that we don't produce, they lend
us the money that we don't save. So when Trump
says that you know, the world's been screwed us and.
Speaker 3 (17:21):
Taking advantage of us, he's got it backward. We've actually
been taken advantage of the world. We're relying on the world.
Speaker 5 (17:26):
Because they supply us with goods and lend us the
money to support the whole economy, including the deficits that
the government has.
Speaker 3 (17:33):
So Trump's got to Message's got.
Speaker 5 (17:37):
To go around and convince people to buy these treasuries
at four percent yield when inflation is much higher than that.
Look at the price of gold over three thousand dollars
an ounce. The reason gold is at three thousand is
because bar in central banks don't want our dollars, they
want gold. They don't want to buy our treasuries because
the yields are too low to cover what they're going
(17:57):
to lose, and so they're buying gold instead. So he
has an possible sell on his hands, and it's going
to get even worse if the dollar really starts to fall,
because you know that's what's going to happen. Then why
would somebody in Europe or Asia want to loan US
money at four percent when they're going to lose ten
or twenty percent a year just on.
Speaker 3 (18:15):
The Ford exchange?
Speaker 2 (18:18):
Do you think part of this negotiation should be I
hate to be so blunt jamming them with Actually part
of the trade negotiations is that they actually take as
part of that long term securities and some sort of
lower interest rate, and they just have to eat it, sir.
Speaker 3 (18:34):
No, they're not going to do it.
Speaker 5 (18:36):
You know, Trump thinks we've got all the cards.
Speaker 3 (18:39):
We don't.
Speaker 5 (18:40):
Again, the cards belong to the producer, not the consumer.
Speaker 3 (18:44):
Right, that's what drives the economy.
Speaker 5 (18:46):
You can't consume what has not been produced, but anything
that's produced will be consumed. Supply creates demand, not the
other way around. We've just got demand, but without supply
it means nothing.
Speaker 3 (18:59):
Rights.
Speaker 5 (19:00):
As long as the world wants our dollars, okay, they'll
give us their stuff for our paper. But when they
don't want our dollars anymore, then we're stuck. All we've
got is paper and no goods, and the world is
going to be fine without us. There's nothing special about Americans.
Anybody can consume. That's a fun job, right, that's the
easy part. Try producing, That's what's difficult. And when people
(19:21):
talk about, oh, we're going to reindustrialize the US, We're
going to build factories with what money?
Speaker 3 (19:25):
Where are we going to.
Speaker 5 (19:26):
Get the capital, and what are we going to stop
doing to finance it? And if we're going to finance
the reindustrialization of America, which is going to cost trillions,
we can't finance the government. You know, we can't have
all this government and reindustrialize. That was the trade off.
We got rid of our industry so we can have
this big government. Right, But in the long run, that
was a bad deal that we made.
Speaker 1 (19:50):
But where do people go? Social media?
Speaker 2 (19:52):
Website people, I can tell already in our chatroom they're
they're really excited about tonight's debate on zero hedge. We'll
be covering it live, Peter. Where do people go to
get all your thinking?
Speaker 5 (20:03):
Well, you know, I do my own podcast, you know,
usually once or twice a week, Shift Radio dot com.
You can also listen to it on on YouTube. You know,
you could go to my website at yourpac dot com.
I also have a free newsletter at Schiftsovereign dot com
people can sign up for. But also, you know, on
my on your pack website you can talk to some
(20:26):
of our representatives.
Speaker 3 (20:28):
You know.
Speaker 5 (20:28):
I think that either way you're going to see a
big decline of the dollar. I think a lot of
the inflation that has been in our financial markets is
about to move to Main Street out of Wall Street,
and so that means US stocks and bonds are headed
a lot lower.
Speaker 3 (20:41):
And that means if you are a retiree.
Speaker 5 (20:44):
What you got to do is you've got to diversify
into offshore assets. You've got to get out of dollars.
You've got to get you know, assets that will be
a good inflation hedge and will provide meaningful income as
we go through this painful process. It's going to be
a lot of pain for investors and savers, but there
is a way to avoid it. But you got to
act pretty quickly to reposition your portfolio.
Speaker 2 (21:07):
Peter, to look forward tonight and thank you for coming on.
Audience is very excited. Thank you brother, Thanks for hosting.
Speaker 1 (21:14):
Peter. Peter Shift.
Speaker 2 (21:18):
I would love to be able to put that proposal
on this spending to folks immediately, Peter Shift saying, hey,
get to a balanced budget, and you got to do
it in two years, not over ten years, and you
have to have significant cuts across the board. I hope
people are listening to this because this reconciliation is going
to be a fiasca. I can tell you, Spencer Morrison
(21:38):
not to do a counter to Peter. We want to
hold it for tonight because it is going to be
a Donnybrook. Where do people go to get restrawing? Where
they go to get all your information. We look forward
to debate. Thank you for signing up. It's going to
be amazing. So where do people get all your information
before tonight's debate?
Speaker 7 (21:53):
I wonder what we're going to debate. We agree on
a lot of stuff. I gotta tell you. You can follow
me on Twitter. It's a real sp Morris in the
books available on Amazon. It's a reshure how tariffs are
going to revive the economy and the stored the American dream.
Speaker 2 (22:13):
Spencer looked forward tonight seven pm on zero Hedge. So
thank you, sir. I appreciate you coming on. Thanks so much,
Steve god bless It's gonna be a whild one tonight.
I want to thank the zero hedge people putting us
on and others the work behind the scenes to pull
this off. I think it's incredibly timely. Let me go
back to forest for a second. Zero Hedge. Speaking of
(22:34):
zero Hedge, they just put up forrest. I think I
got these over to you, but I want to repeat
what zero hedge is saying. They say the Chinese Commanist
Party China has three basic options. Number one and if
we can get this up on the split screen with forrests.
You don't need me concede defeat to whatever terms President
Trump demands immediately. Number two, devalue the R and B
(22:55):
or D one by twenty to forty percent. Number three
on each biggest physical stimulus in its history, talking two
to three treeion dollars, which will push the debt of
China off the charts. Do you think the Chinese Cameras
Party will take any of those three, sir.
Speaker 4 (23:13):
Yeah, it's possible.
Speaker 8 (23:14):
But they do have another method which they will they
will not hesitated to do. They will plunge the world
into even more chaos. They can start if they need
to start a kinectic war or if they need to
start the economic war, they will do so. Maybe in
another biological warfare they will do so, that's another option
(23:37):
they can. Again, as we said, this is their final rankling.
They won't hesitate it to do anything to keep them
in power.
Speaker 4 (23:47):
And that's the that's the thing.
Speaker 8 (23:49):
That's that's why I think the audience, as Peter, your
guest Peter just mentioned, but I don't agree with them
with him, because I believe we do need to make
the manufacturer here in the US and the couple from
Chinese Communist Party because all the economy based on the
slavery of Chinese people and other nations, this will not
(24:14):
sustain and all this economy is not sustained. What President
Trump is doing, I think it's one hundred percent in
the right way. And I think the other day mister
Benson was talking about he's not using word redistribution, but
just to takeing care of the bottom half, the fifty percent.
(24:36):
I think that's one hundred percent correct. With the couple
from the CCP with one hundred percent to defeat the
paper tiger economy which support the Chinese Communist Party and
they're enablers. This will free the Chinese people and also
all the larbagings over the globe.
Speaker 4 (24:58):
So I think this is essential.
Speaker 8 (25:02):
I think the one room polse understand this better. I
think the more American people need to understand this because
this is not a tread war, this is not a
tariff war. This is about survival. It's about freedom and democracy.
I think people have to realize.
Speaker 2 (25:22):
That farst where do people go to get new Federal
state TV? All your news, the daily news you guys
put up. I repost a bunch of those during the
day because of so well researched and well written.
Speaker 1 (25:35):
Where do people go?
Speaker 4 (25:36):
Thank you?
Speaker 8 (25:37):
You can find us on Gether and FSC TV and
NFS Speaks and also the Daily News on gather.
Speaker 4 (25:44):
You can also find us on X and FSC speaks.
Speaker 2 (25:50):
Thank you, Steve, Thank you, Thank you very much, brother,
appreciate it. So the day President Trump's dug in, South
Korea's reached down, Japan's reached out, They've stacked up. I
think they're saying right now, almost one hundred nations of
the Earth.
Speaker 1 (26:06):
That does not count the islands with the penguins.
Speaker 2 (26:09):
Remember, you don't want anybody to gain the system, including
the penguins. We're gonna take a short commercial break on
leave you with Holy War. Very special guest up next
in the War and back in a moment.
Speaker 9 (26:22):
Why you gotta be, You gotta be to say, use.
Speaker 1 (26:59):
Your Stephen k Okay, welcome back. And it's going to
be heated one tonight at seven.
Speaker 2 (27:09):
We're gonna do a lot of the ststist o'clock to
prep you guys for should be exciting President Trump's dug in.
Speaker 1 (27:15):
Josh Horley just had a great quote. I'll get to
that in a moment.
Speaker 2 (27:19):
Jamison Greer who's a new US Trade rep? Is getting
lit up in this Senate Finance hearing by guess who?
The Democrats Mark Warner Virginia just laid into him. We're
gonna get that clip here, hopefully in a moment. Chamae
Nugent joins us Chamaine. Look, can you explain to people
why it is different? We start the day I've got
(27:39):
my warpath coffee. The first thing I do, I do
my field of greens and I get that burst of energy. Also,
I just feel better in doing it. But why is
this different? Why is this fundamentally different? Because you know
this stuff? I mean, you're you're you're.
Speaker 1 (27:51):
Really into health. I'm not.
Speaker 2 (27:53):
Why is this different than the other brand that you
see carpet bombed on cable TV NonStop. Why is i
AS being a real organic super food so important?
Speaker 10 (28:05):
Well, you know, Steve, since scientists decided to bring back
the dire wolves from the ice age, I'm going to
keep drinking field of greens to keep up my strength.
But even if you're not worried about running from pterodactyls
just yet, the most important thing is that we all
have to start small.
Speaker 11 (28:21):
We all have to take care of our health.
Speaker 10 (28:22):
We all know that our bodies are our temples. But
you know, no matter how hard you try, it's difficult
to overhaul your diet completely. So starting small is the
best thing to do. And it's one change, one simple change.
Just put a scoop of field of greens like you
do in your water, your juice and drink it all
throughout the day. And it's just that one little tweak
(28:46):
that's going to make the huge, the biggest difference in
your life.
Speaker 2 (28:51):
And this gets you the fruits and vegetables that people,
particularly with the crazy lifestyle leads often don't get too correct.
Speaker 10 (29:02):
Absolutely, And you know, Ted and I live off the land,
we hunt, but we when we travel, we can't always
get our fruits and veggies.
Speaker 11 (29:09):
So I like to just do one scoop of field
of greens.
Speaker 10 (29:13):
And every single ingredient is doctor selected specifically for heart health,
your lungs and your kidney and your metabolism and healthy weight.
Everything serves a purpose. That's why it wait works.
Speaker 2 (29:30):
How do you take it you get in the morning,
do you just put it in your juice, you put
in your water? What do you recommend to tell people?
Try it? Try with water, Try with your juice. What
do you guys do?
Speaker 11 (29:40):
We put it in.
Speaker 10 (29:40):
Our water and stirt up and that's how I get
going in the first part of the day.
Speaker 11 (29:45):
Well, first coffee first. We talked about this before coffee first,
and then field of greens.
Speaker 10 (29:52):
May I don't know, maybe we should start putting it
in our coffee, Steve, what do you think?
Speaker 3 (29:58):
Well, we do.
Speaker 2 (29:59):
I do it in the water also, I do the
same thing. I do the coffee for us and then
through the water. What have you noticed? What have you
used this for a while? What have you noticed after
use Field of Greens for a while.
Speaker 10 (30:09):
Here's the biggest thing that I can tell you in
your audience that I notice when I don't take it,
when we travel and we don't take it, I feel
like I've got brain fog and I'm just a little
more lethargic.
Speaker 11 (30:22):
When I take it every day, I am ready to go. Rannon,
ready to go.
Speaker 10 (30:26):
Your previous guests was sixty two. I'm sixty two and
I want to just I want to be that grandma
that's jumping on the trampoline. I want to have the energy,
and with Field of Greens I get that energy.
Speaker 2 (30:41):
Wow, amazing, Jermaine, do you have a social media account.
Where do you got to know? Fieldgreens dot com. You
put in a promo code, Warroom, you get a discount.
Where do people go to find out more about you
and what you guys are working on?
Speaker 10 (30:54):
My book, My brand new book Abundantly Well is available
now on Amazon. I'm back on Facebook. I was hacked.
I'm back on Facebook and I'm on Instagram and truth
and my website is Shamaine Nugent dot roxrcks.
Speaker 1 (31:14):
Chamane. Thank you for joining us today. Say hi to Ted.
Speaker 11 (31:17):
I will thanks Steve God bless.
Speaker 1 (31:21):
Two mega warriors right there. Toughest bootleatherer. Unbelievable, by the way,
the promo code's Bannon.
Speaker 2 (31:30):
Make sure you go to get a big discount Field
of Green. Start every day with it. And I do
it like s Chamaine.
Speaker 1 (31:34):
Doesn't.
Speaker 2 (31:35):
We put it in the water after the cod cup
of coffee to put it right in the word some
people put in the juice. We've got a clip from
our favorite Morning Joe. Let's go ahead, and let's go
ahead and play the clip from Morning Joe.
Speaker 12 (31:47):
It's a small group now left that shares the President's
view that with a few tariffs he can quickly remake
the global economic order. Peter Navarro's making that comment that analysis.
Lutnik the Commerce secretary as well, but even many of
Donald Trump's closest supporters, that people who funded his campaign
on Wall Street are saying, what are we doing here?
Speaker 13 (32:09):
Yeah, We'll add Steve Bannon to the list of those
who think.
Speaker 3 (32:11):
That this is the right approach, that this is the moment.
Speaker 1 (32:14):
To really play tough, particularly with.
Speaker 13 (32:16):
China, but to deliver these tariffs and to sort of
force these companies to invest in the United States. But
we have heard from weeks now from economists saying that
this doesn't really work anymore, it's out of step with
today's economy, and it would take too long to do,
meaning prolonging this pain in a couple of things.
Speaker 14 (32:33):
First of all, we have seen a split in sort
of maga world. We saw it early on immigration between
Steve Bannon and Elon Musk and beckat heated. We're now
seeing it, I think, in an even more dramatic and
possibly conclusive way again between the Steve Bannon side Peter Navarro.
Speaker 3 (32:57):
Side of the world.
Speaker 14 (32:58):
By the way, Howard Lutnik wants to be Treasury secretary
based on everything I hear so good.
Speaker 1 (33:03):
You know the true believers. If you want to know
who the true believers.
Speaker 14 (33:05):
Are, they are Steve Bannon, and they are Peter Navarro,
and they're Donald Trump. Right So, but this blit is
even dramatic. That's that's the first thing. Second thing, And
I'm wondering if you had the same reaction I did.
We're so used to getting this sort of fire hose
of falsehoods coming out of the White House and the
(33:26):
Trump campaign and everything that when you see something where
you go, yeah, he really means what he's saying right now,
it stands out.
Speaker 1 (33:35):
And when that clip we showed of Donald.
Speaker 14 (33:37):
Trump where he said, listen, I'm the only guy who
would do this. Nobody else like believes this but me.
Basically he said if I don't do it now, it's
never going to get done.
Speaker 3 (33:53):
That comes from a man who has had this.
Speaker 14 (33:56):
As his driving ideological belief since nineteen eighty seven. The
United States has been taken advantage of. Our government officials
are suckers, and he's the guy who can fix it.
I'm wondering whether you had the same reaction to me.
Say what you will about tariffs, everything. But he believed
(34:16):
every word he said right there, because he's been saying
it since nineteen eighty seven.
Speaker 2 (34:22):
He's been saying it since nineteen eighty seven. He learned
how to really the great Lou Dobbs, a giant who
first started doing this on CNN and really woke the
nation up to what it really started happening in the
early seventies when we had our first in nineteen seventy three,
(34:42):
when we had a first trade deficit. What are your
nineteen seventy three was, by the way, nineteen seventy three,
that critical year we had our first trade deficit. It
was Lou Dobbs that brought to people's attention. Donald Trump,
as a young man, an entrepreneur in New York picked
this up when Trump would go on television and start
(35:06):
doing media that was not related to his At that time,
he was a real estate developer and then he got
into gaming in Atlantic City. But when I was at
Goldman Sachs after coming out of Harvard in the eighties
in investment, banking and finance, Trump was a real estate developer,
but he was also on the society pages every night.
(35:28):
That was that kind of Roaring eighties, and Donald Trump
was a massive player in New York City on the
social scene. But when he started going on programs and
talking about public policy and talking about the state of
the country, this is what he talked about, and he
could see it as Dobbs could see it, and very
(35:51):
few people were talking about.
Speaker 1 (35:52):
What you had is you had the hostile takeovers.
Speaker 2 (35:56):
By Mike Milkan and the guys at Drexel with the
junk bonds, and they were going going after old industrial America,
particularly in the in the Midwest, and Wall Street at
the time was getting ready to shift those that were
looking at taking industrial America and shifting shipping it to
a lower cost place that would have been China. At
(36:17):
the same time, we have this whole NAFTA thing building
NAFTA came in into the early nineties. That was Bob
Rubin that Peter Schiff just talked about. Who was one
of the I don't want to say my bosses. He
ran Goldman Sachs at the time on the trading side,
and a quite brilliant guy. But he was Secretary of
the first National Economic Council and then Secretary of the
Treasury under Bill Clinton.
Speaker 1 (36:39):
They conceived of the whole NAFTA situation.
Speaker 2 (36:43):
This was both the globalist Republicans and the Democratic Party.
At the same time, they backed the Chinese Companies Party
in eighty nine after Tineman Square, we're going to have
this conference on the anniversary of Tineman that we try
to have every year at Tieneman Square.
Speaker 1 (36:59):
The Bush regime, the Bush.
Speaker 2 (37:01):
With Scoutcroft and that crowd, the people that's supposed to
be Reagan's third term, they had essentially taken Reagan's second
term from him. They backed the Chinese Commies Party and
told them, hey, we're going to give you most favored
nation and world trade organization that went through the same
sort of globalist and people that were turning the United
States into the financialization of our economy, the service economy,
(37:21):
because they were going to ship all the manufacturing out
out of the Upper Midwest particular, that's where they're going
to start in the South with the textile business and
the clothing business, and out of places even like New
York City, the garment district all gone, all shipped away
because they promised the brave new world of services and
(37:41):
financialization with guess what it worked for the elites, the
people that conceived it, and the credential class they built
around them of the nbas and the law firms, and
the marketing groups and the communication groups, all that crowd
that goes to Davos.
Speaker 1 (37:57):
They've done well.
Speaker 2 (37:58):
The top one to three percent have now dominate on
ownership of the assets of the country.
Speaker 1 (38:03):
The credential class.
Speaker 2 (38:05):
Who are their lackeys, all have pretty good paying jobs.
Now they don't haven't been able to save any money.
They don't have a ton of assets. They've got some
that credential class. That whole middle class or working class
the Democratic Party abandoned.
Speaker 1 (38:21):
This is to the core of President Trump. That's why
he said yes, say not not only is.
Speaker 2 (38:25):
The only one wh could do it because of his
core belief he's the only one that has the moral
courage to do this and to stand with that heat.
Think of the heat over the weekend. And even now
he's bringing down the economy. He's going to have a
massive recession. He's going to cause a depression. This is
the same individual when they stole the twenty twenty election
(38:47):
and essentially ran him out of town to go back
to mar Lago. If he had been a good little
boy and played the game, they give him a big
book deal. They allow you know, the big golf turners
are and to his courses, everything had been fine.
Speaker 1 (39:03):
His life had been pretty good.
Speaker 2 (39:06):
He made a conscious decision, understanding that the Jacksmiths of
the world were out there, that they would indict him.
Speaker 1 (39:14):
And send him to prison, to die in prison. They
would bankrupt him and.
Speaker 2 (39:18):
Smear him and destroy his name and his reputation in
his families and all the people around him in his movement.
Speaker 1 (39:25):
Remember those billboards.
Speaker 2 (39:26):
Remember he told you to watch the film The Lives
of Others about the stass in East Germany and people
writing on each other, the psychology, that's what they were.
I remember those billboards. After January and President Trump went back,
he made a conscious decision. So ed Leos, with all
your knowledge and all that kind of Oxford Cambridge, British intelligence,
(39:49):
you missed the point. He's not a Roman emperor. He's Cincinnatus.
He's the American Cincinnatus. He came back from all that
con with intention, understanding that everything that was in front
of him, he was going to return to the White House.
(40:10):
And in returning to the White House, in those four
years of knowledge in working and building up cadres, building
up teams, subject matter experts that he was going to
drop the hammer in the hammer he has dropped. Don't
think the hammer's dropped. What do you think they're doing
in Beijing right now? What do you think there's conference
rooms in the Forbidden City are doing right now? What
(40:35):
do you think the Chinese Companist Party is doing tearing
their hair out about how to respond not to an
emperor but to a leader of men and women. Donald Trump,
who's dug in on this short break the word on.
Speaker 1 (40:49):
The Hong Kong We will buying till the hot God.
Speaker 4 (40:53):
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Speaker 2 (42:10):
Mike is going to another throat surgery, and I understand
this one's the final one, but he'll be out for
a couple of days. The Great Mike Lindell and I
want to make sure Berry's prayers with Mike. I think
he's the third or fourth surgery here in the last
month or two on his throat.
Speaker 1 (42:28):
Stephen A.
Speaker 2 (42:29):
Smith has just put out I think something is quite important.
I want to make sure because I've been following this
one closely. Stephen A. Smith has said, this is a
tweet that just popped. Time to stop messing around. Life
is great, especially at ESPN. Disney hate the thought of
being a politician, but sick of this mess. So I'm
(42:51):
officially leaving all doors open, and he links to a
story about Stephen A. Smith is open to running from
President of United States for the Democratic Party in twenty
twenty eight. As I said, that's kind of that bracket.
You get the governor's bracket, and then you're going to
have the what I call the celebrities or the all
other bracket, which has Mayor Pete Boutaje Edge, It's going
(43:14):
to have Mark Cuban, I'll have Stephen A.
Speaker 1 (43:17):
Smith. Who else will be over there? Newsom? Because Newsom's
not going to run as a governor.
Speaker 2 (43:22):
The California model now exactly working, So he's going to
go to This is why the whole outreach of doing
conversations with people on the right on his podcast. There'll
be many others over that the governor's bracket. As I
said Governor Polus when I gave that rip on him
in Colorado, I don't think it will be quite quite
(43:42):
competitive because two racks so much other racal stuff coming
out of Colorado. We'll try to cover over the next
couple of days. President Trump is though once again I
should say dug in I think the term is dug
in on, dug in on what he's doing as far
as the tray goes, and it's going to be dug
(44:02):
in all, you know, for the next couple of days.
Speaker 1 (44:05):
Tomorrow.
Speaker 2 (44:05):
Actually the reciprocity part, not the baseline, but the reciprocess
he is supposed to kick in tomorrow.
Speaker 1 (44:12):
So we're going to be on standby for that.
Speaker 2 (44:14):
Like I said, President Trump, this gets back to the
core of why he ran for president. This is one
of his missions and mandates is to make America great again.
He doesn't believe he can make America great egun until
you return America as a manufacturing superpower. And his way
is to basically bend the world economics system to what's
(44:37):
been the post war international rules based order, in which
the American working you know, put on his shoulder of
the full faith and credit of all this. I think
Peter Shift is correct. I don't agree with him obviously
on trade or his aspects on trader. You're gonna have
a great debate tonight. He's a really quite brilliant guy.
I do agree with him, and we'll get into this
in ask the next couple of days. I just don't
(44:57):
understand this. You know, the re conciliation of it all.
I think it's now time we have to have an
adults conversation. The warm and posse is prepared to have it.
You know, you guys are doing so much, including backing
Article three and what the guys are.
Speaker 1 (45:11):
Doing over there, the men and women are doing over.
Speaker 2 (45:13):
There to make sure that we have these I think
bring up FOREI impeachment a couple of these federal judges
to make sure that people understand exactly what they're doing,
how radical they're being in trying to thwart President Trump.
But also folks have to I think we got to
get in this reconciliation bill, which now they want to
(45:33):
have a vote tomorrow. I don't think that's going to happen.
I don't know. I think there may be forty or
fifty votes in the House against it. One is kind
of confusing and to Peter Shift, it's not sustainable. President
Trump's had such amazing clarity here in the world economic
system and how it needs to be kind of reformatted
to make sure that the Americans are not getting not
(45:55):
just ripped off, but the American workers not having it
all based upon his shoulders. At that we have to
have the same type of clarity on this situation with
our debt, the refinancing of the debt spending in time
now to talk about cuts any of these two reconciliations
and budgets that really don't talk about cuts. And as
Peter Schiff said, we got to stop the nonsense of
(46:16):
talking about ten years. I understand that that's part of
a law that you have to do it, but it's
also meaningless. You have to talk about what you're going
to do in physical twenty six and I'm still waiting
for fiscal twenty five.
Speaker 1 (46:29):
Folks.
Speaker 2 (46:30):
Where are the impowments, Where are the recisions? Where's the fraud?
Where's stuff passed over to Justice Department, the FBI for
the fraud. We need to see this. We need to
see it now. We've worked on this thing long enough.
We can at least get there's been enough publicity, enough headlines,
enough talk. We need to see the reality. We need
to cut the twenty five budget. We agreed to the
(46:51):
cr for one reason. There were going to be impoundments.
There are recisions.
Speaker 1 (46:54):
Where are they?
Speaker 2 (46:56):
The twenty six budget can't the twenty six budget. These
budgets can't have two and a half tree dollar deficits.
It's just mathematically not going to work. Even with changing
the world economic system and tariffs and trade, you can't
you can't use. Eventually, you're going to have to get
to cut spending. Tax Network USA. I want to make
(47:16):
sure people go, particularly as the fifteenth comes upon, is
the the IDEs of April come upon. You go to
Tax Network USA TNUSA dot com.
Speaker 1 (47:25):
Get bettered, You get a free consultation. Talk to the
folks today.
Speaker 2 (47:28):
If you have any fear you don't quite understand what's
going on, But particularly if you have a letter from
the IRS, you have an option before you call the arts,
because you got to make contact. You have to make contact.
Talk to these folks first. You get a free consultation.
You give them all.
Speaker 1 (47:42):
Everything you got, your letter, all that.
Speaker 2 (47:44):
Have a talk with the people at tax Network TNUSA
dot com.
Speaker 1 (47:49):
Also Jim Rickards.
Speaker 2 (47:50):
Maybe try to get Rickards on six o'clock and I
talk about the pregame. There's a debate at zero heads
tonight at seven Spencer Morrison against Peter Schiff, two opposing views.
Speaker 1 (48:02):
Gonna be fantastic. Jim Rickards, Rickords war Room dot.
Speaker 2 (48:06):
Com, slash Bannon. You get the free book Artificial Intelligence.
That hour last night, shake you a little bit? Should
have we wanted to? Okay, the Great Charlie Kirk is
next two hours of populist nationalism here in Real America's voice,
followed by Posto, Jack Pisobak, Steve Gruber.
Speaker 1 (48:25):
Eric Bowling.
Speaker 2 (48:25):
I will do the handover from Bowling today five and
seven tonight, leading up to the debate on zero Hedge.
Speaker 1 (48:32):
We would be back. We're going to leave you now
to jack you up off.
Speaker 2 (48:37):
A magnificent classic novel, actually not a novel, it's actually
new journalism The Right Stuff by Tom Wolfe, a fabulous
movie by Philip Culkin, a classic and Academy Award winning
music by Bill Contact See it five
This is the primal scream of a dying regime.
Speaker 2 (00:07):
Pray for our enemies because we're going to medieval on
these people.
Speaker 1 (00:12):
There's not got a free shot.
Speaker 2 (00:13):
And all these networks lying about the people, the people
have had a belly full of it.
Speaker 1 (00:18):
I know you don't like hearing that. I know you
try to do everything in the world to stop that,
but you're not going to stop it. It's going to happen.
Speaker 3 (00:23):
And where do people like that go to share the
big line?
Speaker 4 (00:27):
Mega media?
Speaker 5 (00:28):
I wish in my soul, I wish that any of
these people had a conscience.
Speaker 1 (00:34):
Ask yourself, what is my task and what is my purpose?
Speaker 5 (00:37):
If that answer is to save my country, this country
will be saved.
Speaker 6 (00:44):
Warm use your host, Stephen k MAA.
Speaker 2 (00:52):
It's Tuesday, eight April and the Overlord twenty twenty five A.
I'm gonna go back to Forrest in a moment, because
you know this situation of the Chinese Commuties Party may
crab sideways. Massive naval exercise over the past couple of
days around Taiwan with the People's Liberation Navy, I think
(01:13):
trying to send the signal on a message to the
Americans that don't think you can defend Taiwan with the
seventh Fleet because we're a lot closer and are bringing
a lot of firepower.
Speaker 1 (01:24):
Sort and get back to for us.
Speaker 2 (01:26):
On that tonight, there's a very special event and it's free,
and it's free for the world, and it's sponsored by
one of my favorite news sites and websites have got
amazing analysis on it, amazing articles they link to amazing
pieces that would be of course zero Hedge. So at
seven pm tonight, if we can put the graphic up
(01:48):
and there are a lot of people that worked on
this to make it happen, and I want to thank
them for reaching out to us to be part of
helping to pull it together. But tonight at seven pm
on zero Hedge, totally free, there will be a debate
between the great Peter Schiff, one of the smartest guys
on Wall Street, and Spencer Morrison, the author of Restoring.
(02:11):
Spencer joins us, we're trying to get We're trying to
get Peter up, and Peter's like me on making skypework,
so we're struggling.
Speaker 1 (02:17):
He'll be up in a second.
Speaker 2 (02:18):
We hope Spencer, this is will get first of all,
give us your assessment. I don't want to get too
much into the debate because I want people to see it.
And we're also going to be doing a pre game
on this in our six o'clock hour leading up, and
it really will transfer you guys over to zero hedge
at seven. I think we're also Grace and we're going
to try to stream it ourselves off of zero hedge
(02:41):
because this is a big deal, and I think only
zero Hedge, which has some much great analysis about Wall
Street and other things that are happening global capital market,
is a.
Speaker 1 (02:50):
Perfect place to have it.
Speaker 2 (02:52):
So tell me give me your assessment of the last
couple of days, particularly the day of the stock global
stock markets kind of come back and President Trump is
dug in and not moving and now they're all stacked up.
He just saw his true social about South Korea that
Japanese are coming in.
Speaker 1 (03:07):
So where do you think we stay in, Spencer.
Speaker 7 (03:10):
Well, I think we're in a really great position. And
I think when I was on the show with you
on Liberation Day, I think we discussed this and we
sort of called it. The markets are going to fluctuate,
they're going to bounce back, and I think I made
the point and I'll make it again if President Trump
said he was going to cut income tax, the mainstream
media would say, oh my god, the economy is going
to crash.
Speaker 3 (03:29):
We're losing two hundred and fifty.
Speaker 7 (03:30):
Billion dollars worth of GDP because that's how much it
cost to do to the taxes every year. Right, So,
anytime you have a big policy shift, you're going to
have economic dislocation. And sometimes it's short term, sometimes it's
medium term. But I think what President Trump is doing
here is he's shifting the economy from consumption and financialization
(03:50):
of the economy over to an industrialized economy and a
production based economy. So there's going to be shifts, and
you know, I think it's positive that the market responding,
but I don't think the market is to be all
and end all in terms of a barometer up to
the economic health of America. I mean, there's there's so
many other metrics we have to look at. You know,
(04:10):
do people have money to support their families? That's more
important than the than the stock market to me.
Speaker 2 (04:19):
The given that this was announced in the close of
the market last Wednesday, and tomorrow's really the day that
the reciprocity kicks in. One week into this are you
feeling pretty good?
Speaker 7 (04:33):
I'll tell you what I'm feeling amazing. I think that
there's a lot of nations that are that are in
the process of coming to the table. I think many
more are going to come to the table. I'm excited
to see what the President can do in terms of
working out new deals. And you know, if these new
deals are structures in such a way that benefit both
players by lower overall trade barriers, I think that's great.
I think that's going to, you know, cause a lot
(04:55):
of other nations to step forward. I think this is
going to be great for American industry. It's going to
raise exports and ultimately it's going to reshore you know,
a large portion, I hope, of the economic production that's
been shipped abroad to China, Mexico, places like that.
Speaker 2 (05:13):
Okay, tonight, it's seven o'clock on the Great Site. Zero
Hedge is going to be a debate between Spencer Morrison
and the Great Peter Shift.
Speaker 1 (05:21):
Peter joins us right now.
Speaker 2 (05:23):
Peter, before I get into anything, I don't want to
give them too much of the debate. We're going to
have a whole hour of pregame today on our six
o'clock show before because I'm just I'm so excited about
having two heavyweights actually lay out these two plans. But
since you're such a prominent thinker of capital markets, just
give us where you think we are overall with the
American economy. You know, you got the reconciliation we're working on, obviously,
(05:46):
this big trade war that President Trump's engaged in.
Speaker 1 (05:50):
What's Peter Shift's take on things.
Speaker 5 (05:53):
Well, you know, I think we're in a very bad
place as an economy. You know, I'm sympathetic with the president.
You know, I supported them. I urged my followers to
vote for him, not because I wanted him to do
these parris but because I thought he was much better
than the alternative.
Speaker 3 (06:10):
But Trump understands that.
Speaker 5 (06:14):
Yes, over the last twenty years or so, in particular,
we've hollowed out the middle class, we've lost our industrial base,
We've grown poorer as we've accumulated debt and the rest
of the world has accumulated assets. But what Trump doesn't
seem to get and a lot of people that surround him,
is the current nature of the economy and how it's
(06:36):
this big bubble has been inflated.
Speaker 3 (06:39):
We run these huge deficits.
Speaker 5 (06:40):
You know, government deficits a couple of trillion dollars a year.
The Fed prints a lot of money, and so Americans
get a lot of money to spend as a result
of these deficits. But the problem is Americans aren't making
the products that these Americans want to buy, and so
if we just had to spend our money here, you know,
prices would have gone through the roof.
Speaker 3 (07:01):
But what we've been able to do is.
Speaker 5 (07:03):
We have an escape valve for the inflation, and it's
the rest of the world. Because they have lots of capacity,
lots of factories, they produce all the stuff. And so
what Americans do is they take that money and they
go shopping and we buy all sorts of stuff. Over
a trillion dollars worth of merchandise comes in every year
that we didn't have to produce. We didn't have to sacrifice,
(07:24):
we didn't have to save to make the capital investments,
we don't have to deal with the pollution. We just
get all the stuff and all the work is done abroad.
So we send our money abroad and they send their
stuff here. Now the cycle gets even better for us
in the short run because foreigners take the dollars that
they earned selling us the stuff that we didn't have
(07:45):
to make, and they buy our financial asset, They buy
our stocks, they buy our bonds, and as a result
of that, our stock market goes up, our bond market
goes up, and so our interest rates go down, and
so everybody thinks they're richer.
Speaker 3 (07:57):
Because stock prices are higher.
Speaker 5 (07:59):
We get to borrow all this cheap money so we
can keep on going further into debt to buy more
foreign products. Now, if that's going to stop, and if
the tariffs may very well stop it by making goods
so expensive that Americans can't afford to import them anymore,
then what's going to happen is the money that we
create stays in America, bidding prices through the roof, and
(08:24):
barners no longer buy our stocks and no longer buy
our bonds, sending interest rates through the roof. We have
a massive economic implosion as the entire service sector economy collapses.
We have another financial crisis because a lot of the
borrowed money can't be repaid. A lot of the stores
have to close down because they no longer have goods
that anybody can afford to buy. We have lots of unemployment.
(08:47):
So in the short run, this is an unmitigated disaster.
The problem is Trump has not prepared the public for
just how bad it's got to get before it's going
to get good. And I don't think we have the
stomach for the financial crisis and the collapse that's coming.
I think we're just going to go back to the
same thing that got us here, which is asking the
(09:08):
FED to cut interest rates and print more money, and
then we risk, you know, what's always been the worst
case scenario, a complete dollar collapse and you know, runaway inflation.
So I think we're very close to the precipice of
that right now.
Speaker 1 (09:23):
Let me ask you, let me just take in a
slightly different direction.
Speaker 2 (09:26):
If you see the because at the same time we're
going through this, they've now talking about these reconciliation bills,
And if you just cut down to the basics of
the reconciliation, one's talking about a four trained dollar inc
the house is I'm about a four trained dollar increase
to the debt sailing.
Speaker 1 (09:44):
The sentence talking about a five trained.
Speaker 2 (09:45):
Dollars my understanding, and it's not you haven't seen the language.
Speaker 1 (09:49):
My understanding.
Speaker 2 (09:50):
That's a two year deal or just gets to pass
the midterm elections sometime into twenty twenty seven. The model
we have there also these deficits, particularly given tax scus
that he's promised the working class on tips and on
social security, that the deficits could be north of.
Speaker 1 (10:08):
Two tree and dollars.
Speaker 2 (10:09):
Is that model does leave aside the leave aside the
trade situation for a second ways got into is the
model that we have right now of just because and
I want to just tell the audience neither the reconciliation
what they're talking about or even in twenty fiscal year
twenty twenty five, because have been no impounments to date,
(10:30):
there has not been outside of outside of USID and DOE,
which were identified by the by the ELI cranes in
the world on fraud. There hasn't been one penny that's
been put over to people to say, actually, this is
where we founded, this where we cut. So you're going
to have a two to two and a half treeon
dollar deficit every year, you're going to get up to
(10:50):
forty two or forty three treeon dollars in debt and
you just continue on.
Speaker 1 (10:55):
Is the basic model we have today.
Speaker 2 (10:58):
Leave a side what he's doing on trade and trying
to bring manyfairbread. Is the model we have today sustainable?
Speaker 3 (11:04):
No, it's completely unsustainable.
Speaker 5 (11:06):
The fact that we've sustained it for so long is
why the problem has gotten so big, and the deficits
will be much larger as we go into a deeper recession,
which I believe we're in, and it's going to get
a lot worse, especially with the tariffs. You know, what
what Trump should be doing right now is telling Congress
that no way will he sign off on this bill.
(11:28):
I would not increase the debt ceiling at all, you know,
Rand Paul says, hey, let's do it by you know,
five hundred million, five hundred billion, not five trillion, and
let's do itus. Yes, yeah, but I would tell I
would use my veto if I was Trump, I would
make it clear to Congress that I am not signing
(11:49):
an unbalanced budget. The buck stops here. We need to
cut government spending right now. We need to balance this budget.
And if you don't balance this budget, I'm vetoing it.
And the only way you're going to pass this increase
in the debt ceiling is with two thirds of both houses,
because I'm not going to be a party to the
destruction of the country. I'm not going to take on
another five trillion in debt because that means another ten
(12:11):
trillion in debt. It's never going to stop. So now
is the time. If we're going to take the pain,
that's pain worth taking. The pain of the tariff is
just pain for pain's sake. It is not going to help.
The tariffs are going to make it worse. But if
we actually force the government to stop spending and we
really get into the root cause of the problem, that's
the kind of pain that I want to sign on for.
Speaker 2 (12:33):
And you're prepared in that regard because he just put
forward a trade and dollar defense budget. You're prepared to
cut defense. You're prepared to say, hey, we got to
cut some medicaid, we got to cut social programs. But
I don't want a ten year or where Scott Beston says,
where it's six and a half or seven percent of
deficit to GDP, where I'm gonna get this down to
three and a half Peter, you're saying, hey, that's not
(12:54):
good enough. I want to plan not over ten years,
but over a year or two to get to a balance.
Speaker 1 (12:59):
Budge, to get to a zero deficit.
Speaker 3 (13:02):
Is that when I'm here sixty I'm sixty two years old.
Speaker 5 (13:04):
I've been around long enough to know that every time
Congress says they're going to cut the depth sit in
the future, they.
Speaker 3 (13:10):
Never do it right.
Speaker 5 (13:11):
They always say, oh, we will have these future spending cuts.
Speaker 3 (13:14):
They kick the can down the road.
Speaker 5 (13:16):
Look, I'm prepared to give up one hundred percent of
my Social Security, you know.
Speaker 3 (13:20):
You know, and a lot of people should say.
Speaker 5 (13:22):
Oh, we don't need any Social Security because the money's
not there and the young people can't afford to pay
the payroll faxes. But we have to reform entitlements, which
means cut entitlements, Medicare, Medicaid, Obamacare, all that stuff. And yes,
we're spending too much money on defense. We need to
spend less on defense. Donald Trump says we should stop
defending Europe. Yes, let's stop defending Europe. Let's bring home
(13:42):
the troops so we can save that money. Let Europe
defend itself. But we need to cut bring the troops
out of Japan. You know, we're broke. You know, we
have thirty six trillion in debt, thirty seven trillion, and
what's worse over the next four years, twenty six trillion
of that debt comes due.
Speaker 3 (13:58):
It matures, and we have to fly yes, and I
don't think they're gonna be there.
Speaker 1 (14:05):
Hangover for one second.
Speaker 2 (14:06):
We're gonn taking a short commercial break Tonight's debate at
seven pm on the great Zero Hedge Peter Shift, Spencer
Morrison on the on trade and tariffs. I'm sure much
much more Zero Head sponsored this. We couldn't be prouder
to help pull this together. And we're gonna drive a
big audience to this tonight. Couse, you got to hear it.
Short commercial break Johnny con takes us out with American
(14:30):
made with American parts. Short commercial break back in a moment.
Speaker 1 (14:37):
You sha already.
Speaker 4 (14:40):
You win in lost show Got America?
Speaker 1 (14:52):
I Got America.
Speaker 4 (15:00):
Use your host, Stephen Kban.
Speaker 2 (15:06):
I can tell you, Peter, the audiences, the war and
Posse is quite excited that you're on one. Thing we
talk about all the time is a difficulty. Scott Besson,
who is a contributor here to wream for years, has
and having to sell I think ten tree in this
year of US government securities, you put in a better perspective.
You're saying it's twenty five trade in over the next
couple of years that bessent has to sell essentially to
(15:28):
foreigners or I guess by ourselves. I mean, how are
we going to do that we're given our financial situation.
Speaker 5 (15:33):
Yeah, well, the worst part about our enormous national debt
is the way we've gone about financing it. Instead of
taking on long term debt selling thirty year treasuries, we've
financed with T bills. It's kind of like people who
have a house. Instead of taking on a thirty year
fixed rate mortgage, they get a one year arm. Now
maybe they make that trade off because the arm is cheaper,
(15:56):
but they're accepting a lot of risk. The person who
does the thirty year fIF he has a payment, he
knows what it's going to be. And so we did
the same thing because by borrowing in the T bill market,
we got lower interest rates. Because if the government had
financed these debts on you know, ten years to thirty years,
it would have pushed those long term interest rates up,
(16:17):
pushed mortgage rates up. The government didn't want to do that,
so the government played Russian Roulette with you know, with
the country by the.
Speaker 2 (16:24):
Short But Peter, but Peter, Peter Yellen Yellen did this.
This is what third world countries do, right, They get
that scame all the time. They basically did they financed short, right,
we don't go along starting go long? We essentially essentially
did we essentially did this go ahead?
Speaker 3 (16:40):
Yeah, it started with Robert Rubin.
Speaker 5 (16:42):
Under Clinton, he started the shortening of the maturities of
the national debt to bring down the interst rate expense
by by borrowing short So the reason I'm saying we
have to do twenty six trillion is over the next
ten years, twenty six trillion of that short term debt matures,
and a lot of that debt is at much lower
rates than the current rates. And as it matures, we
(17:05):
have to resell it, right, and somebody has to want
to buy it. Because not only have foreigners supply to
America with the goods that we don't produce, they lend
us the money that we don't save. So when Trump
says that you know, the world's been screwed us and.
Speaker 3 (17:21):
Taking advantage of us, he's got it backward. We've actually
been taken advantage of the world. We're relying on the world.
Speaker 5 (17:26):
Because they supply us with goods and lend us the
money to support the whole economy, including the deficits that
the government has.
Speaker 3 (17:33):
So Trump's got to Message's got.
Speaker 5 (17:37):
To go around and convince people to buy these treasuries
at four percent yield when inflation is much higher than that.
Look at the price of gold over three thousand dollars
an ounce. The reason gold is at three thousand is
because bar in central banks don't want our dollars, they
want gold. They don't want to buy our treasuries because
the yields are too low to cover what they're going
(17:57):
to lose, and so they're buying gold instead. So he
has an possible sell on his hands, and it's going
to get even worse if the dollar really starts to fall,
because you know that's what's going to happen. Then why
would somebody in Europe or Asia want to loan US
money at four percent when they're going to lose ten
or twenty percent a year just on.
Speaker 3 (18:15):
The Ford exchange?
Speaker 2 (18:18):
Do you think part of this negotiation should be I
hate to be so blunt jamming them with Actually part
of the trade negotiations is that they actually take as
part of that long term securities and some sort of
lower interest rate, and they just have to eat it, sir.
Speaker 3 (18:34):
No, they're not going to do it.
Speaker 5 (18:36):
You know, Trump thinks we've got all the cards.
Speaker 3 (18:39):
We don't.
Speaker 5 (18:40):
Again, the cards belong to the producer, not the consumer.
Speaker 3 (18:44):
Right, that's what drives the economy.
Speaker 5 (18:46):
You can't consume what has not been produced, but anything
that's produced will be consumed. Supply creates demand, not the
other way around. We've just got demand, but without supply
it means nothing.
Speaker 3 (18:59):
Rights.
Speaker 5 (19:00):
As long as the world wants our dollars, okay, they'll
give us their stuff for our paper. But when they
don't want our dollars anymore, then we're stuck. All we've
got is paper and no goods, and the world is
going to be fine without us. There's nothing special about Americans.
Anybody can consume. That's a fun job, right, that's the
easy part. Try producing, That's what's difficult. And when people
(19:21):
talk about, oh, we're going to reindustrialize the US, We're
going to build factories with what money?
Speaker 3 (19:25):
Where are we going to.
Speaker 5 (19:26):
Get the capital, and what are we going to stop
doing to finance it? And if we're going to finance
the reindustrialization of America, which is going to cost trillions,
we can't finance the government. You know, we can't have
all this government and reindustrialize. That was the trade off.
We got rid of our industry so we can have
this big government. Right, But in the long run, that
was a bad deal that we made.
Speaker 1 (19:50):
But where do people go? Social media?
Speaker 2 (19:52):
Website people, I can tell already in our chatroom they're
they're really excited about tonight's debate on zero hedge. We'll
be covering it live, Peter. Where do people go to
get all your thinking?
Speaker 5 (20:03):
Well, you know, I do my own podcast, you know,
usually once or twice a week, Shift Radio dot com.
You can also listen to it on on YouTube. You know,
you could go to my website at yourpac dot com.
I also have a free newsletter at Schiftsovereign dot com
people can sign up for. But also, you know, on
my on your pack website you can talk to some
(20:26):
of our representatives.
Speaker 3 (20:28):
You know.
Speaker 5 (20:28):
I think that either way you're going to see a
big decline of the dollar. I think a lot of
the inflation that has been in our financial markets is
about to move to Main Street out of Wall Street,
and so that means US stocks and bonds are headed
a lot lower.
Speaker 3 (20:41):
And that means if you are a retiree.
Speaker 5 (20:44):
What you got to do is you've got to diversify
into offshore assets. You've got to get out of dollars.
You've got to get you know, assets that will be
a good inflation hedge and will provide meaningful income as
we go through this painful process. It's going to be
a lot of pain for investors and savers, but there
is a way to avoid it. But you got to
act pretty quickly to reposition your portfolio.
Speaker 2 (21:07):
Peter, to look forward tonight and thank you for coming on.
Audience is very excited. Thank you brother, Thanks for hosting.
Speaker 1 (21:14):
Peter. Peter Shift.
Speaker 2 (21:18):
I would love to be able to put that proposal
on this spending to folks immediately, Peter Shift saying, hey,
get to a balanced budget, and you got to do
it in two years, not over ten years, and you
have to have significant cuts across the board. I hope
people are listening to this because this reconciliation is going
to be a fiasca. I can tell you, Spencer Morrison
(21:38):
not to do a counter to Peter. We want to
hold it for tonight because it is going to be
a Donnybrook. Where do people go to get restrawing? Where
they go to get all your information. We look forward
to debate. Thank you for signing up. It's going to
be amazing. So where do people get all your information
before tonight's debate?
Speaker 7 (21:53):
I wonder what we're going to debate. We agree on
a lot of stuff. I gotta tell you. You can follow
me on Twitter. It's a real sp Morris in the
books available on Amazon. It's a reshure how tariffs are
going to revive the economy and the stored the American dream.
Speaker 2 (22:13):
Spencer looked forward tonight seven pm on zero Hedge. So
thank you, sir. I appreciate you coming on. Thanks so much,
Steve god bless It's gonna be a whild one tonight.
I want to thank the zero hedge people putting us
on and others the work behind the scenes to pull
this off. I think it's incredibly timely. Let me go
back to forest for a second. Zero Hedge. Speaking of
(22:34):
zero Hedge, they just put up forrest. I think I
got these over to you, but I want to repeat
what zero hedge is saying. They say the Chinese Commanist
Party China has three basic options. Number one and if
we can get this up on the split screen with forrests.
You don't need me concede defeat to whatever terms President
Trump demands immediately. Number two, devalue the R and B
(22:55):
or D one by twenty to forty percent. Number three
on each biggest physical stimulus in its history, talking two
to three treeion dollars, which will push the debt of
China off the charts. Do you think the Chinese Cameras
Party will take any of those three, sir.
Speaker 4 (23:13):
Yeah, it's possible.
Speaker 8 (23:14):
But they do have another method which they will they
will not hesitated to do. They will plunge the world
into even more chaos. They can start if they need
to start a kinectic war or if they need to
start the economic war, they will do so. Maybe in
another biological warfare they will do so, that's another option
(23:37):
they can. Again, as we said, this is their final rankling.
They won't hesitate it to do anything to keep them
in power.
Speaker 4 (23:47):
And that's the that's the thing.
Speaker 8 (23:49):
That's that's why I think the audience, as Peter, your
guest Peter just mentioned, but I don't agree with them
with him, because I believe we do need to make
the manufacturer here in the US and the couple from
Chinese Communist Party because all the economy based on the
slavery of Chinese people and other nations, this will not
(24:14):
sustain and all this economy is not sustained. What President
Trump is doing, I think it's one hundred percent in
the right way. And I think the other day mister
Benson was talking about he's not using word redistribution, but
just to takeing care of the bottom half, the fifty percent.
(24:36):
I think that's one hundred percent correct. With the couple
from the CCP with one hundred percent to defeat the
paper tiger economy which support the Chinese Communist Party and
they're enablers. This will free the Chinese people and also
all the larbagings over the globe.
Speaker 4 (24:58):
So I think this is essential.
Speaker 8 (25:02):
I think the one room polse understand this better. I
think the more American people need to understand this because
this is not a tread war, this is not a
tariff war. This is about survival. It's about freedom and democracy.
I think people have to realize.
Speaker 2 (25:22):
That farst where do people go to get new Federal
state TV? All your news, the daily news you guys
put up. I repost a bunch of those during the
day because of so well researched and well written.
Speaker 1 (25:35):
Where do people go?
Speaker 4 (25:36):
Thank you?
Speaker 8 (25:37):
You can find us on Gether and FSC TV and
NFS Speaks and also the Daily News on gather.
Speaker 4 (25:44):
You can also find us on X and FSC speaks.
Speaker 2 (25:50):
Thank you, Steve, Thank you, Thank you very much, brother,
appreciate it. So the day President Trump's dug in, South
Korea's reached down, Japan's reached out, They've stacked up. I
think they're saying right now, almost one hundred nations of
the Earth.
Speaker 1 (26:06):
That does not count the islands with the penguins.
Speaker 2 (26:09):
Remember, you don't want anybody to gain the system, including
the penguins. We're gonna take a short commercial break on
leave you with Holy War. Very special guest up next
in the War and back in a moment.
Speaker 9 (26:22):
Why you gotta be, You gotta be to say, use.
Speaker 1 (26:59):
Your Stephen k Okay, welcome back. And it's going to
be heated one tonight at seven.
Speaker 2 (27:09):
We're gonna do a lot of the ststist o'clock to
prep you guys for should be exciting President Trump's dug in.
Speaker 1 (27:15):
Josh Horley just had a great quote. I'll get to
that in a moment.
Speaker 2 (27:19):
Jamison Greer who's a new US Trade rep? Is getting
lit up in this Senate Finance hearing by guess who?
The Democrats Mark Warner Virginia just laid into him. We're
gonna get that clip here, hopefully in a moment. Chamae
Nugent joins us Chamaine. Look, can you explain to people
why it is different? We start the day I've got
(27:39):
my warpath coffee. The first thing I do, I do
my field of greens and I get that burst of energy. Also,
I just feel better in doing it. But why is
this different? Why is this fundamentally different? Because you know
this stuff? I mean, you're you're you're.
Speaker 1 (27:51):
Really into health. I'm not.
Speaker 2 (27:53):
Why is this different than the other brand that you
see carpet bombed on cable TV NonStop. Why is i
AS being a real organic super food so important?
Speaker 10 (28:05):
Well, you know, Steve, since scientists decided to bring back
the dire wolves from the ice age, I'm going to
keep drinking field of greens to keep up my strength.
But even if you're not worried about running from pterodactyls
just yet, the most important thing is that we all
have to start small.
Speaker 11 (28:21):
We all have to take care of our health.
Speaker 10 (28:22):
We all know that our bodies are our temples. But
you know, no matter how hard you try, it's difficult
to overhaul your diet completely. So starting small is the
best thing to do. And it's one change, one simple change.
Just put a scoop of field of greens like you
do in your water, your juice and drink it all
throughout the day. And it's just that one little tweak
(28:46):
that's going to make the huge, the biggest difference in
your life.
Speaker 2 (28:51):
And this gets you the fruits and vegetables that people,
particularly with the crazy lifestyle leads often don't get too correct.
Speaker 10 (29:02):
Absolutely, And you know, Ted and I live off the land,
we hunt, but we when we travel, we can't always
get our fruits and veggies.
Speaker 11 (29:09):
So I like to just do one scoop of field
of greens.
Speaker 10 (29:13):
And every single ingredient is doctor selected specifically for heart health,
your lungs and your kidney and your metabolism and healthy weight.
Everything serves a purpose. That's why it wait works.
Speaker 2 (29:30):
How do you take it you get in the morning,
do you just put it in your juice, you put
in your water? What do you recommend to tell people?
Try it? Try with water, Try with your juice. What
do you guys do?
Speaker 11 (29:40):
We put it in.
Speaker 10 (29:40):
Our water and stirt up and that's how I get
going in the first part of the day.
Speaker 11 (29:45):
Well, first coffee first. We talked about this before coffee first,
and then field of greens.
Speaker 10 (29:52):
May I don't know, maybe we should start putting it
in our coffee, Steve, what do you think?
Speaker 3 (29:58):
Well, we do.
Speaker 2 (29:59):
I do it in the water also, I do the
same thing. I do the coffee for us and then
through the water. What have you noticed? What have you
used this for a while? What have you noticed after
use Field of Greens for a while.
Speaker 10 (30:09):
Here's the biggest thing that I can tell you in
your audience that I notice when I don't take it,
when we travel and we don't take it, I feel
like I've got brain fog and I'm just a little
more lethargic.
Speaker 11 (30:22):
When I take it every day, I am ready to go. Rannon,
ready to go.
Speaker 10 (30:26):
Your previous guests was sixty two. I'm sixty two and
I want to just I want to be that grandma
that's jumping on the trampoline. I want to have the energy,
and with Field of Greens I get that energy.
Speaker 2 (30:41):
Wow, amazing, Jermaine, do you have a social media account.
Where do you got to know? Fieldgreens dot com. You
put in a promo code, Warroom, you get a discount.
Where do people go to find out more about you
and what you guys are working on?
Speaker 10 (30:54):
My book, My brand new book Abundantly Well is available
now on Amazon. I'm back on Facebook. I was hacked.
I'm back on Facebook and I'm on Instagram and truth
and my website is Shamaine Nugent dot roxrcks.
Speaker 1 (31:14):
Chamane. Thank you for joining us today. Say hi to Ted.
Speaker 11 (31:17):
I will thanks Steve God bless.
Speaker 1 (31:21):
Two mega warriors right there. Toughest bootleatherer. Unbelievable, by the way,
the promo code's Bannon.
Speaker 2 (31:30):
Make sure you go to get a big discount Field
of Green. Start every day with it. And I do
it like s Chamaine.
Speaker 1 (31:34):
Doesn't.
Speaker 2 (31:35):
We put it in the water after the cod cup
of coffee to put it right in the word some
people put in the juice. We've got a clip from
our favorite Morning Joe. Let's go ahead, and let's go
ahead and play the clip from Morning Joe.
Speaker 12 (31:47):
It's a small group now left that shares the President's
view that with a few tariffs he can quickly remake
the global economic order. Peter Navarro's making that comment that analysis.
Lutnik the Commerce secretary as well, but even many of
Donald Trump's closest supporters, that people who funded his campaign
on Wall Street are saying, what are we doing here?
Speaker 13 (32:09):
Yeah, We'll add Steve Bannon to the list of those
who think.
Speaker 3 (32:11):
That this is the right approach, that this is the moment.
Speaker 1 (32:14):
To really play tough, particularly with.
Speaker 13 (32:16):
China, but to deliver these tariffs and to sort of
force these companies to invest in the United States. But
we have heard from weeks now from economists saying that
this doesn't really work anymore, it's out of step with
today's economy, and it would take too long to do,
meaning prolonging this pain in a couple of things.
Speaker 14 (32:33):
First of all, we have seen a split in sort
of maga world. We saw it early on immigration between
Steve Bannon and Elon Musk and beckat heated. We're now
seeing it, I think, in an even more dramatic and
possibly conclusive way again between the Steve Bannon side Peter Navarro.
Speaker 3 (32:57):
Side of the world.
Speaker 14 (32:58):
By the way, Howard Lutnik wants to be Treasury secretary
based on everything I hear so good.
Speaker 1 (33:03):
You know the true believers. If you want to know
who the true believers.
Speaker 14 (33:05):
Are, they are Steve Bannon, and they are Peter Navarro,
and they're Donald Trump. Right So, but this blit is
even dramatic. That's that's the first thing. Second thing, And
I'm wondering if you had the same reaction I did.
We're so used to getting this sort of fire hose
of falsehoods coming out of the White House and the
(33:26):
Trump campaign and everything that when you see something where
you go, yeah, he really means what he's saying right now,
it stands out.
Speaker 1 (33:35):
And when that clip we showed of Donald.
Speaker 14 (33:37):
Trump where he said, listen, I'm the only guy who
would do this. Nobody else like believes this but me.
Basically he said if I don't do it now, it's
never going to get done.
Speaker 3 (33:53):
That comes from a man who has had this.
Speaker 14 (33:56):
As his driving ideological belief since nineteen eighty seven. The
United States has been taken advantage of. Our government officials
are suckers, and he's the guy who can fix it.
I'm wondering whether you had the same reaction to me.
Say what you will about tariffs, everything. But he believed
(34:16):
every word he said right there, because he's been saying
it since nineteen eighty seven.
Speaker 2 (34:22):
He's been saying it since nineteen eighty seven. He learned
how to really the great Lou Dobbs, a giant who
first started doing this on CNN and really woke the
nation up to what it really started happening in the
early seventies when we had our first in nineteen seventy three,
(34:42):
when we had a first trade deficit. What are your
nineteen seventy three was, by the way, nineteen seventy three,
that critical year we had our first trade deficit. It
was Lou Dobbs that brought to people's attention. Donald Trump,
as a young man, an entrepreneur in New York picked
this up when Trump would go on television and start
(35:06):
doing media that was not related to his At that time,
he was a real estate developer and then he got
into gaming in Atlantic City. But when I was at
Goldman Sachs after coming out of Harvard in the eighties
in investment, banking and finance, Trump was a real estate developer,
but he was also on the society pages every night.
(35:28):
That was that kind of Roaring eighties, and Donald Trump
was a massive player in New York City on the
social scene. But when he started going on programs and
talking about public policy and talking about the state of
the country, this is what he talked about, and he
could see it as Dobbs could see it, and very
(35:51):
few people were talking about.
Speaker 1 (35:52):
What you had is you had the hostile takeovers.
Speaker 2 (35:56):
By Mike Milkan and the guys at Drexel with the
junk bonds, and they were going going after old industrial America,
particularly in the in the Midwest, and Wall Street at
the time was getting ready to shift those that were
looking at taking industrial America and shifting shipping it to
a lower cost place that would have been China. At
(36:17):
the same time, we have this whole NAFTA thing building
NAFTA came in into the early nineties. That was Bob
Rubin that Peter Schiff just talked about. Who was one
of the I don't want to say my bosses. He
ran Goldman Sachs at the time on the trading side,
and a quite brilliant guy. But he was Secretary of
the first National Economic Council and then Secretary of the
Treasury under Bill Clinton.
Speaker 1 (36:39):
They conceived of the whole NAFTA situation.
Speaker 2 (36:43):
This was both the globalist Republicans and the Democratic Party.
At the same time, they backed the Chinese Companies Party
in eighty nine after Tineman Square, we're going to have
this conference on the anniversary of Tineman that we try
to have every year at Tieneman Square.
Speaker 1 (36:59):
The Bush regime, the Bush.
Speaker 2 (37:01):
With Scoutcroft and that crowd, the people that's supposed to
be Reagan's third term, they had essentially taken Reagan's second
term from him. They backed the Chinese Commies Party and
told them, hey, we're going to give you most favored
nation and world trade organization that went through the same
sort of globalist and people that were turning the United
States into the financialization of our economy, the service economy,
(37:21):
because they were going to ship all the manufacturing out
out of the Upper Midwest particular, that's where they're going
to start in the South with the textile business and
the clothing business, and out of places even like New
York City, the garment district all gone, all shipped away
because they promised the brave new world of services and
(37:41):
financialization with guess what it worked for the elites, the
people that conceived it, and the credential class they built
around them of the nbas and the law firms, and
the marketing groups and the communication groups, all that crowd
that goes to Davos.
Speaker 1 (37:57):
They've done well.
Speaker 2 (37:58):
The top one to three percent have now dominate on
ownership of the assets of the country.
Speaker 1 (38:03):
The credential class.
Speaker 2 (38:05):
Who are their lackeys, all have pretty good paying jobs.
Now they don't haven't been able to save any money.
They don't have a ton of assets. They've got some
that credential class. That whole middle class or working class
the Democratic Party abandoned.
Speaker 1 (38:21):
This is to the core of President Trump. That's why
he said yes, say not not only is.
Speaker 2 (38:25):
The only one wh could do it because of his
core belief he's the only one that has the moral
courage to do this and to stand with that heat.
Think of the heat over the weekend. And even now
he's bringing down the economy. He's going to have a
massive recession. He's going to cause a depression. This is
the same individual when they stole the twenty twenty election
(38:47):
and essentially ran him out of town to go back
to mar Lago. If he had been a good little
boy and played the game, they give him a big
book deal. They allow you know, the big golf turners
are and to his courses, everything had been fine.
Speaker 1 (39:03):
His life had been pretty good.
Speaker 2 (39:06):
He made a conscious decision, understanding that the Jacksmiths of
the world were out there, that they would indict him.
Speaker 1 (39:14):
And send him to prison, to die in prison. They
would bankrupt him and.
Speaker 2 (39:18):
Smear him and destroy his name and his reputation in
his families and all the people around him in his movement.
Speaker 1 (39:25):
Remember those billboards.
Speaker 2 (39:26):
Remember he told you to watch the film The Lives
of Others about the stass in East Germany and people
writing on each other, the psychology, that's what they were.
I remember those billboards. After January and President Trump went back,
he made a conscious decision. So ed Leos, with all
your knowledge and all that kind of Oxford Cambridge, British intelligence,
(39:49):
you missed the point. He's not a Roman emperor. He's Cincinnatus.
He's the American Cincinnatus. He came back from all that
con with intention, understanding that everything that was in front
of him, he was going to return to the White House.
(40:10):
And in returning to the White House, in those four
years of knowledge in working and building up cadres, building
up teams, subject matter experts that he was going to
drop the hammer in the hammer he has dropped. Don't
think the hammer's dropped. What do you think they're doing
in Beijing right now? What do you think there's conference
rooms in the Forbidden City are doing right now? What
(40:35):
do you think the Chinese Companist Party is doing tearing
their hair out about how to respond not to an
emperor but to a leader of men and women. Donald Trump,
who's dug in on this short break the word on.
Speaker 1 (40:49):
The Hong Kong We will buying till the hot God.
Speaker 4 (40:53):
We were joice with a most.
Speaker 6 (40:56):
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(41:19):
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Speaker 2 (42:10):
Mike is going to another throat surgery, and I understand
this one's the final one, but he'll be out for
a couple of days. The Great Mike Lindell and I
want to make sure Berry's prayers with Mike. I think
he's the third or fourth surgery here in the last
month or two on his throat.
Speaker 1 (42:28):
Stephen A.
Speaker 2 (42:29):
Smith has just put out I think something is quite important.
I want to make sure because I've been following this
one closely. Stephen A. Smith has said, this is a
tweet that just popped. Time to stop messing around. Life
is great, especially at ESPN. Disney hate the thought of
being a politician, but sick of this mess. So I'm
(42:51):
officially leaving all doors open, and he links to a
story about Stephen A. Smith is open to running from
President of United States for the Democratic Party in twenty
twenty eight. As I said, that's kind of that bracket.
You get the governor's bracket, and then you're going to
have the what I call the celebrities or the all
other bracket, which has Mayor Pete Boutaje Edge, It's going
(43:14):
to have Mark Cuban, I'll have Stephen A.
Speaker 1 (43:17):
Smith. Who else will be over there? Newsom? Because Newsom's
not going to run as a governor.
Speaker 2 (43:22):
The California model now exactly working, So he's going to
go to This is why the whole outreach of doing
conversations with people on the right on his podcast. There'll
be many others over that the governor's bracket. As I
said Governor Polus when I gave that rip on him
in Colorado, I don't think it will be quite quite
(43:42):
competitive because two racks so much other racal stuff coming
out of Colorado. We'll try to cover over the next
couple of days. President Trump is though once again I
should say dug in I think the term is dug
in on, dug in on what he's doing as far
as the tray goes, and it's going to be dug
(44:02):
in all, you know, for the next couple of days.
Speaker 1 (44:05):
Tomorrow.
Speaker 2 (44:05):
Actually the reciprocity part, not the baseline, but the reciprocess
he is supposed to kick in tomorrow.
Speaker 1 (44:12):
So we're going to be on standby for that.
Speaker 2 (44:14):
Like I said, President Trump, this gets back to the
core of why he ran for president. This is one
of his missions and mandates is to make America great again.
He doesn't believe he can make America great egun until
you return America as a manufacturing superpower. And his way
is to basically bend the world economics system to what's
(44:37):
been the post war international rules based order, in which
the American working you know, put on his shoulder of
the full faith and credit of all this. I think
Peter Shift is correct. I don't agree with him obviously
on trade or his aspects on trader. You're gonna have
a great debate tonight. He's a really quite brilliant guy.
I do agree with him, and we'll get into this
in ask the next couple of days. I just don't
(44:57):
understand this. You know, the re conciliation of it all.
I think it's now time we have to have an
adults conversation. The warm and posse is prepared to have it.
You know, you guys are doing so much, including backing
Article three and what the guys are.
Speaker 1 (45:11):
Doing over there, the men and women are doing over.
Speaker 2 (45:13):
There to make sure that we have these I think
bring up FOREI impeachment a couple of these federal judges
to make sure that people understand exactly what they're doing,
how radical they're being in trying to thwart President Trump.
But also folks have to I think we got to
get in this reconciliation bill, which now they want to
(45:33):
have a vote tomorrow. I don't think that's going to happen.
I don't know. I think there may be forty or
fifty votes in the House against it. One is kind
of confusing and to Peter Shift, it's not sustainable. President
Trump's had such amazing clarity here in the world economic
system and how it needs to be kind of reformatted
to make sure that the Americans are not getting not
(45:55):
just ripped off, but the American workers not having it
all based upon his shoulders. At that we have to
have the same type of clarity on this situation with
our debt, the refinancing of the debt spending in time
now to talk about cuts any of these two reconciliations
and budgets that really don't talk about cuts. And as
Peter Schiff said, we got to stop the nonsense of
(46:16):
talking about ten years. I understand that that's part of
a law that you have to do it, but it's
also meaningless. You have to talk about what you're going
to do in physical twenty six and I'm still waiting
for fiscal twenty five.
Speaker 1 (46:29):
Folks.
Speaker 2 (46:30):
Where are the impowments, Where are the recisions? Where's the fraud?
Where's stuff passed over to Justice Department, the FBI for
the fraud. We need to see this. We need to
see it now. We've worked on this thing long enough.
We can at least get there's been enough publicity, enough headlines,
enough talk. We need to see the reality. We need
to cut the twenty five budget. We agreed to the
(46:51):
cr for one reason. There were going to be impoundments.
There are recisions.
Speaker 1 (46:54):
Where are they?
Speaker 2 (46:56):
The twenty six budget can't the twenty six budget. These
budgets can't have two and a half tree dollar deficits.
It's just mathematically not going to work. Even with changing
the world economic system and tariffs and trade, you can't
you can't use. Eventually, you're going to have to get
to cut spending. Tax Network USA. I want to make
(47:16):
sure people go, particularly as the fifteenth comes upon, is
the the IDEs of April come upon. You go to
Tax Network USA TNUSA dot com.
Speaker 1 (47:25):
Get bettered, You get a free consultation. Talk to the
folks today.
Speaker 2 (47:28):
If you have any fear you don't quite understand what's
going on, But particularly if you have a letter from
the IRS, you have an option before you call the arts,
because you got to make contact. You have to make contact.
Talk to these folks first. You get a free consultation.
You give them all.
Speaker 1 (47:42):
Everything you got, your letter, all that.
Speaker 2 (47:44):
Have a talk with the people at tax Network TNUSA
dot com.
Speaker 1 (47:49):
Also Jim Rickards.
Speaker 2 (47:50):
Maybe try to get Rickards on six o'clock and I
talk about the pregame. There's a debate at zero heads
tonight at seven Spencer Morrison against Peter Schiff, two opposing views.
Speaker 1 (48:02):
Gonna be fantastic. Jim Rickards, Rickords war Room dot.
Speaker 2 (48:06):
Com, slash Bannon. You get the free book Artificial Intelligence.
That hour last night, shake you a little bit? Should
have we wanted to? Okay, the Great Charlie Kirk is
next two hours of populist nationalism here in Real America's voice,
followed by Posto, Jack Pisobak, Steve Gruber.
Speaker 1 (48:25):
Eric Bowling.
Speaker 2 (48:25):
I will do the handover from Bowling today five and
seven tonight, leading up to the debate on zero Hedge.
Speaker 1 (48:32):
We would be back. We're going to leave you now
to jack you up off.
Speaker 2 (48:37):
A magnificent classic novel, actually not a novel, it's actually
new journalism The Right Stuff by Tom Wolfe, a fabulous
movie by Philip Culkin, a classic and Academy Award winning
music by Bill Contact See it five
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