Trump Blinks on Iran — Ceasefire Proves the Threats Were Empty

[SPEAKER_00]: Make no friends in the pits and you take no prisoners. [SPEAKER_00]: Put one minute, you're up, pop a minute, and enjoy beans in the next pool. [SPEAKER_00]: Your kids don't go to college and they've reached disaster event here with me. [SPEAKER_00]: So, revolution starts now, starts. [SPEAKER_02]: We have to pass the bill so that you can find out what is in it. [SPEAKER_00]: Turn those machines back off! [SPEAKER_00]: You are about to enter the Peter ship show. [UNKNOWN]: Go!

[SPEAKER_00]: If we lose freedom here, there's no place to escape to. [SPEAKER_00]: This is the last stand on Earth. [SPEAKER_00]: The Peter ship shall be solved. [SPEAKER_00]: I don't know when they decided that they wanted to make a virtue out of selfishness. [SPEAKER_00]: You're money. [SPEAKER_00]: You're stories. [SPEAKER_00]: You're freedom. [SPEAKER_00]: The Peter ship shall.

[SPEAKER_01]: Well, it's Taco Tuesday tonight, and you know, earlier in the day when I scheduled this live podcast to begin at 8 p.m., I knew that was the deadline that Donald Trump had given over the weekend, and again, earlier this morning.

[SPEAKER_01]: This was the dropped dead point, the line in the sand that the president drew, where [SPEAKER_01]: basically unconditionally surrender and open up the state of her moves or that was it. [SPEAKER_01]: If you look at the posts over the weekend from from Trump, one post was that time is running out in 48 hours. [SPEAKER_01]: All hell will rain down on Iran. [SPEAKER_01]: All hell.

[SPEAKER_01]: I think some of the people in the media had a little fun with the fact that the president felt rain wrong. [SPEAKER_01]: He used the rain of a king as opposed to a rain coming down from the sky. [SPEAKER_01]: But it was obvious what the president meant. [SPEAKER_01]: He was going to rain hell down on Iran. [SPEAKER_01]: And in fact, then over the weekend, he posted that Tuesday, this was on Easter Sunday. [SPEAKER_01]: He posted this.

[SPEAKER_01]: This was his Easter message to the Iranian people, Tuesday will be power plant day and bridge day, all wrapped up in one in Iran, there will be nothing like it, open the effing [SPEAKER_01]: President Trump. [SPEAKER_01]: So they'll be living in hell. [SPEAKER_01]: Hell is going to rain down on Iran by eight o'clock this evening. [SPEAKER_01]: And then again, this morning, as if that wasn't enough, this [SPEAKER_01]: Iran's entire civilization.

[SPEAKER_01]: He said, tonight, the Iranian civilization will die. [SPEAKER_01]: Never to come back. [SPEAKER_01]: Something like that. [SPEAKER_01]: I had the text of it up. [SPEAKER_01]: I think I accidentally deleted it. [SPEAKER_01]: I've been looking for it. [SPEAKER_01]: I think I clicked the X and I lost it. [SPEAKER_01]: But I had the whole truth social post. [SPEAKER_01]: But that was the gist of it.

[SPEAKER_01]: I mean, they've had a civilization for thousands of years there, and apparently it was going to come to an end. [SPEAKER_01]: Now remember, one of the justifications for this war that the President chose to fight was that he was also fighting for the Iranian people. [SPEAKER_01]: He was going to free them. [SPEAKER_01]: He was going to liberate them from the oppressive regime. [SPEAKER_01]: and make Iran great again.

[SPEAKER_01]: Now, if you're trying to help out the Iranians, how does bombing them to the Stone Age, raining down hell, making their life a living hell, and destroying their entire civilization? [SPEAKER_01]: How does that benefit the Iranian people? [SPEAKER_01]: to make those statements, and not all it doesn't make him look ridiculous. [SPEAKER_01]: I mean, I think it's bad for the United States.

[SPEAKER_01]: It's a bad image to portray, to be so heartless, and so cruel, to put out these threats. [SPEAKER_01]: And even if the president was serious about these threats, I mean, why does he have to make them on truth social? [SPEAKER_01]: Can't they be made behind the scenes? [SPEAKER_01]: Like, can't you put this pressure on the Iranians through diplomatic channels? [SPEAKER_01]: Like, hey, we're serious. [SPEAKER_01]: We're going to do this stuff.

[SPEAKER_01]: Why does he have to play it out there on truth social? [SPEAKER_01]: Where the markets might react to it, [SPEAKER_01]: And you know, when I saw the market reaction today, at most the Dow was down 400 points during the day, at the low point.

[SPEAKER_01]: And oil was up around $115 a barrel. [SPEAKER_01]: If investors really took Trump seriously, during the day, [SPEAKER_01]: If they really thought he was going to reign held down and wipe out the Iranian civilization and ate a clock tonight, the Dow would have been down thousands of points. [SPEAKER_01]: Oil would have been a lot higher. [SPEAKER_01]: The fact that that was not the case to me means that people are not fooled anymore.

[SPEAKER_01]: And if the markets didn't believe the threats, why would they ironate it? [SPEAKER_01]: And in fact, he was going to blow up the bridges and the power plants. [SPEAKER_01]: Well, I was watching on the internet videos. [SPEAKER_01]: And the bridges in Iran are full of citizens, people, thousands of people, women and children are on the bridges.

[SPEAKER_01]: They're surrounding the power plants, holding hands and chanting, how the hell are we going to bomb those bridges and those power plants? [SPEAKER_01]: There's just no way it was going to happen. [SPEAKER_01]: I mean, I don't care what Trump says. [SPEAKER_01]: How is he going to give an order? [SPEAKER_01]: to drop bombs on bridges that are full of women and children. [SPEAKER_01]: There is no way. [SPEAKER_01]: I don't care what Trump wants to post.

[SPEAKER_01]: He can't be that heartless and cruel. [SPEAKER_01]: And in fact, I don't know how a soldier, the pilot or the bomb a deer on a B-52 or whatever, are you really gonna drop a bomb on a bunch of women and children? [SPEAKER_01]: Even if the president gave you an order to do that, I don't think so. [SPEAKER_01]: So I don't think the threat was real. [SPEAKER_01]: I think the Iranians knew that it wasn't real. [SPEAKER_01]: I think investors knew.

[SPEAKER_01]: They didn't know 100%, right? [SPEAKER_01]: Otherwise they just would have bought. [SPEAKER_01]: Now of course, there may have been some people that knew 100%. [SPEAKER_01]: There may have been some Trump insiders that knew. [SPEAKER_01]: that it was a hundred percent taco guarantee. [SPEAKER_01]: Traders, average people that don't have the inside information could make an educated guess.

[SPEAKER_01]: But if you don't know a hundred percent, you're not going to make as big a wager as you might if you knew for sure. [SPEAKER_01]: Now, the 11th hour reprieve came a couple of hours ago.

[SPEAKER_01]: Although there was a rumor of this, [SPEAKER_01]: within an hour of the close, so the US stock market started to rally back in the last hour because of some news coming out of Pakistan. [SPEAKER_01]: because Pakistan had basically said, Hey, let's have a ceasefire guys come on, you know, let's, you know, let's, let's pull back from this, let's have a ceasefire. [SPEAKER_01]: And it was Pakistan that apparently was asking the US and Iran to stand down.

[SPEAKER_01]: Now, did this come out of the blue or maybe Trump asked Pakistan to do this? [SPEAKER_01]: I don't know, maybe he was looking for a way out and he got the Pakistanis. [SPEAKER_01]: to provide it. [SPEAKER_01]: Although before I even get to that, you know, one of the things that was in the threat from this morning where he said, look, you know, we're going to wipe out the Iranian civilization. [SPEAKER_01]: He said, hopefully we won't have to do it.

[SPEAKER_01]: I said, I hope that they come to their senses, but he said he doubts it or something like that. [SPEAKER_01]: But he reiterated the fact that we have a whole new regime. [SPEAKER_01]: He said, we've already accomplished regime change. [SPEAKER_01]: So maybe this new regime, they're better and smarter and wiser. [SPEAKER_01]: So maybe they'll come to their senses, but he doubts it or something. [SPEAKER_01]: But this is not regime change.

[SPEAKER_01]: This is the same regime as the one we had before. [SPEAKER_01]: Yes, some of the people are different, right? [SPEAKER_01]: The supreme leader is different. [SPEAKER_01]: But it's the same basic regime. [SPEAKER_01]: We didn't wipe out the whole regime. [SPEAKER_01]: We just took out some of the leaders and now they got new leaders from the same regime. [SPEAKER_01]: And they may even take a harder line than their predecessors.

[SPEAKER_01]: I don't know, but I think it's completely disingenuous for Trump to claim that we've had regime change. [SPEAKER_01]: Although at one point, he denied that was even an objective. [SPEAKER_01]: Even after he stated it was an objective. [SPEAKER_01]: He was talking about. [SPEAKER_01]: But anyway, so this, um, I, you know, not rumor because it wasn't a rumor, but news of the Pakistanian offer that both sides stand down, that came out.

[SPEAKER_01]: And so the market rally, gold, gold was never down that much today. [SPEAKER_01]: At the most it was maybe down 40 bucks, [SPEAKER_01]: It ended up closing up $60 on the day. [SPEAKER_01]: The stock market, which was down again, at most 400, I think the Dow leaked out a small game at some peak. [SPEAKER_01]: Bitcoin rally, too. [SPEAKER_01]: In fact, Bitcoin is almost $72,000. [SPEAKER_01]: Bitcoin was down around $68,000 earlier today.

[SPEAKER_01]: When everything was down, Bitcoin was down. [SPEAKER_01]: But all the markets have reversed. [SPEAKER_01]: The stock market futures are now about 900 points. [SPEAKER_01]: big move. [SPEAKER_01]: The US dollar is down across the board. [SPEAKER_01]: You've got about an eight tenths of a percent rise in the euro and the British pound. [SPEAKER_01]: The Aussie dollars up almost a percent and a half. [SPEAKER_01]: The dollars down against the Swiss Frank by almost a full percent.

[SPEAKER_01]: oil making the biggest move, oils down 15 and a half percent. [SPEAKER_01]: As I'm speaking, oils back down to $95 a barrel. [SPEAKER_01]: This is the what month crew does this, but this is West Texas. [SPEAKER_01]: But it's down, it's down $17 in 70 cents a barrel. [SPEAKER_01]: So we basically went from [SPEAKER_01]: Armageddon. [SPEAKER_01]: This is the end of Iran. [SPEAKER_01]: We're going to destroy their civilization to now apparently the war is over.

[SPEAKER_01]: And I'm going to read what Trump posted on on truth social. [SPEAKER_01]: I wrote that down. [SPEAKER_01]: I mean, I hope I didn't. [SPEAKER_01]: I didn't erase that although I actually know I got that on my phone here I haven't here. [SPEAKER_01]: So here's what Trump. [SPEAKER_01]: This is what he posted today. [SPEAKER_01]: I got that on my phone. [SPEAKER_01]: So on behalf of the Islamic Republic of Iran, I express gratitude and appreciation for my dear brothers, Pakistan.

[SPEAKER_01]: All right. [SPEAKER_01]: Now, this is not what Trump, no, no, this is not Trump statement. [SPEAKER_01]: This is like, this is Iran statement. [SPEAKER_01]: That's, that's, that's, I ran accepting accepting the, the peace file. [SPEAKER_01]: All right, here's what, I, oh no, here I got, here's what Trump, here's what Trump wrote. [SPEAKER_01]: Based on conversations with Prime Minister Shabaz Sharif, you know, and Field Marshal, as Sim Manier of Pakistan.

[SPEAKER_01]: And we're in they requested that I hold off on the destructive force being sent tonight to Iran, which I, again, I think that's bullshit. [SPEAKER_01]: There's no way that they were going to do that. [SPEAKER_01]: They were not going to blow up all those bridges, all those power plants killing all those civilians. [SPEAKER_01]: There's just no way it was going to happen, right?

[SPEAKER_01]: But no. [SPEAKER_01]: and subject to the Islamic Republic of Iran agreeing to the complete immediate and safe opening of the Strait of Famous, I agree to suspend the bombing and attack of Iran for a period of two weeks. [SPEAKER_01]: So again, he's not calling it off. [SPEAKER_01]: All hell is still going to rain down. [SPEAKER_01]: He's still going to wipe out their civilization. [SPEAKER_01]: He's just going to wait two weeks.

[SPEAKER_01]: right with bullshit right i mean obviously he didn't do it today he's not going to do it in two weeks and i think the Iranians are realized that this is not going to happen this will be a double sided ceasefire [SPEAKER_01]: The reason for doing so is that we have already met and exceeded all military objectives and are very, very far along with a definitive agreement concerning long-term peace with Iran and peace in the Middle East.

[SPEAKER_01]: Now I don't think there anywhere near a long-term agreement for peace with Iran, let alone the entire Middle East. [SPEAKER_01]: So that's just BS. [SPEAKER_01]: We received the ten point proposal from Iran and believe it is a workable basis on which they go shape. [SPEAKER_01]: Yeah, the ten point proposal is basically a complete victory for Iran.

[SPEAKER_01]: If those ten points that Iran is insisting on, if we agreed to those ten points, Iran would be in a much better position after the war than they were before the war. [SPEAKER_01]: So what will we have achieved? [SPEAKER_01]: We would have, we'll be no safer and we would have elevated the position of Iran and diminished our own. [SPEAKER_01]: I mean, to me, the two sides or as far apart as they were from the very beginning, I don't see what Iran has conceded.

[SPEAKER_01]: And the president is claiming that, we're almost there, like the whole mess is over, but the mess that he created on his own.

[SPEAKER_01]: uh... it's that he wrote almost all of the various points of the past contention had been agreed to between the united states and i ran though they have it but a two-week period will allow the agreement to be finalized and consummate [SPEAKER_01]: on behalf of the United States of America as president and also representing the countries of the Middle East. [SPEAKER_01]: He represents the Middle East now. [SPEAKER_01]: It is an honor to have this long-term problem.

[SPEAKER_01]: Close to resolution. [SPEAKER_01]: Thank you for your attention. [SPEAKER_01]: I don't think anything has actually happened.

[SPEAKER_01]: And I think that Iran is agreeing to temporarily reopen [SPEAKER_01]: Though technically it was never closed. [SPEAKER_01]: The straight was, you know, there wasn't like walls. [SPEAKER_01]: And in fact, ships were going through if the Iranians let them through, right? [SPEAKER_01]: They're allies, they're ships could pass.

[SPEAKER_01]: But I think, [SPEAKER_01]: What they're agreeing to from what I'm reading is that they're going to open it up with conditions like they're still going to be in charge of the passage is going to have to be coordinated through their military and maybe there's going to have to be a payment I know they were talking about. [SPEAKER_01]: two million dollar payment per ship. [SPEAKER_01]: I don't know if that payment is going to be part of the reopening over the next two weeks.

[SPEAKER_01]: If the ships that do want to pass through the straight are going to have to pony up the two million. [SPEAKER_01]: I'm not really sure. [SPEAKER_01]: But if you're read [SPEAKER_01]: What I ran said, I mean, they're like, yeah, you know, the president wants this truth, wants this ceasefire and since he's agreeing to meet us on our terms and our conditions, then fight will agree to have a temporary ceasefire as long as things are gonna be resolved to our satisfaction.

[SPEAKER_01]: Anyway, you got a quick commercial break, I'm coming to right back. [SPEAKER_01]: All right, so now I'm gonna read again the announcement [SPEAKER_01]: Iran, the official communication of the acceptance of the ceasefire on behalf of this Islamic Republic of Iran, I express gratitude and appreciation for my dear brother.

[SPEAKER_01]: He prime minister of Pakistan, Sharif, and he field martial muner for their tireless efforts [SPEAKER_01]: in the region in response to the brotherly request of the Prime Minister Sharif in his tweet. [SPEAKER_01]: And considering the request by the U.S. for negotiations, [SPEAKER_01]: based on its 15-point proposal, as well as the announcement by the President of the United States about acceptance of the general framework of Iran's 10-point proposal.

[SPEAKER_01]: As a basis for negotiations, I hereby declare on behalf of the Iran Supreme National Security Council, if attacks against Iran are halted, our powerful armed forces will cease their defensive operations. [SPEAKER_01]: For a period of two weeks, safe passage through the straight of removes will be possible via coordination with Iran's armed forces and with due consideration of technical limitations, whatever that means.

[SPEAKER_01]: But again, with the coordination of Iran's armed forces, so Iran is still in charge of the passage through the straight.

[SPEAKER_01]: They're not just walking away. [SPEAKER_01]: But it's pretty clear that the Iranians have conceded nothing. [SPEAKER_01]: They're basically willing to negotiate, which they were willing to negotiate from the very beginning. [SPEAKER_01]: And all of Trump's threats to destroy them, to wipe out their civilian infrastructure, to kill their civilization, and turn Iran into a living hell, didn't nothing. [SPEAKER_01]: Iran has conceded nothing, they have agreed to nothing.

[SPEAKER_01]: So what was the point of all of that other than to just make the markets move around? [SPEAKER_01]: Because I think that we look bad. [SPEAKER_01]: I think Trump looks bad, obviously too, he loses credibility, not that I wanted him to follow through with these threats. [SPEAKER_01]: I'm glad that he didn't follow through them. [SPEAKER_01]: I just wish he had never made them.

[SPEAKER_01]: because a, you know, making a bunch of threats and not following through with them really does undercut your negotiation posture, you know, Trump is supposed to be this great negotiator. [SPEAKER_01]: Well, I think he's really weakened his position by, you know, constantly talking out on these things. [SPEAKER_01]: But making the threat makes us look bad. [SPEAKER_01]: You know, I mean, the last time there was a lot of civilian casualties during, during World War II, right?

[SPEAKER_01]: They both sides bombed civilians, right? [SPEAKER_01]: The Germans bombed London, a lot of people died in their homes. [SPEAKER_01]: They were bombed, you know, the air raids. [SPEAKER_01]: We bombed Germans cities, some of them completely destroyed. [SPEAKER_01]: Therefore, it came in and look at Dresden and other, you know, Sidney's just got decimated to villains, right? [SPEAKER_01]: Just bombing residential buildings.

[SPEAKER_01]: And of course, obviously we dropped nuclear bombs in Japan, Nagasaki, Hiroshima, I mean wiped out a lot of civilians. [SPEAKER_01]: And I think after that war, kind of the world, [SPEAKER_01]: You know, came to terms with some rules of war that that was not a good thing to do. [SPEAKER_01]: You know, I mean, in hindsight, right, just targeting civilians. [SPEAKER_01]: Yes, it makes the war, you know, more brutal. [SPEAKER_01]: It makes the people pay a higher price.

[SPEAKER_01]: Maybe the idea was if we kill enough civilians, they'll be pressure on our enemies to surrender because the war will be less popular. [SPEAKER_01]: brutal and a lot of a lot of civilians, not in America. [SPEAKER_01]: I mean, we, you know, we were lucky. [SPEAKER_01]: And we, you know, we, we got bombed in Pearl Harbor. [SPEAKER_01]: And of course, that was a military base.

[SPEAKER_01]: The, the Japanese targeted our, you know, our, our, our navy in Pearl Harbor. [SPEAKER_01]: But other than that, there were no bombs dropped on American soil. [SPEAKER_01]: So we did not suffer. [SPEAKER_01]: like the British or like the Germans or like the Japanese. [SPEAKER_01]: I mean, we had casualties. [SPEAKER_01]: I mean, we had soldiers died, but they died on the battlefield. [SPEAKER_01]: We didn't have civilians dying in their homes.

[SPEAKER_01]: The way they did in Europe and then in Japan. [SPEAKER_01]: So the world came to agree. [SPEAKER_01]: Okay, we're not going to target civilians. [SPEAKER_01]: And here's Donald Trump out there, [SPEAKER_01]: Saying, yeah, we're going to target civilians. [SPEAKER_01]: We're going to kill civilians. [SPEAKER_01]: We're going to blow up civilian infrastructure. [SPEAKER_01]: We're going to wipe out the civilization. [SPEAKER_01]: It's going to be living hell.

[SPEAKER_01]: Why would you say stuff like that? [SPEAKER_01]: Why do you have to make yourself look so bad? [SPEAKER_01]: There's already enough hatred of America in the region. [SPEAKER_01]: Why fan the flames with that kind of rhetoric? [SPEAKER_01]: And then Americans support it. [SPEAKER_01]: Like, yeah, I mean, why? [SPEAKER_01]: just because we have a big enough military that we could do that, right? [SPEAKER_01]: Just because we have the capability of reigning hell on Iran.

[SPEAKER_01]: Does that mean we do it just because we can? [SPEAKER_01]: You know, what's that, what was it from Spider-Man? [SPEAKER_01]: With great power comes great responsibility. [SPEAKER_01]: What about our responsibility? [SPEAKER_01]: Not to use this military in that way. [SPEAKER_01]: I mean, there was no imminent threat. [SPEAKER_01]: I don't care what Trump wants to say about they were about to nuke us.

[SPEAKER_01]: If that was the case, then he lied to us eight months ago when we, you know, what was an operation midnight hammer or whatever that one was where we dropped these bunk or buster missiles and we apparently wiped out their nuclear capability, set it back [SPEAKER_01]: So I guess that was a lie if we were on the verge of getting nuked, you know, before March 1st.

[SPEAKER_01]: But there is no reason for the United States to threaten that kind of action against the civilian population of Iran, especially when you started the conflict. [SPEAKER_01]: by claiming that you're there to help liberate them. [SPEAKER_01]: You're claiming that the Iranians are supporting us, that they're protesting in the streets for their government to be overthrown. [SPEAKER_01]: I mean, Trump was actually saying that the Iranians don't want us to stop the bombs.

[SPEAKER_01]: They want us to keep on dropping bombs. [SPEAKER_01]: Well, I really doubt they wanted to be bombed back into the Stone Age. [SPEAKER_01]: They didn't want to be bombed out of electricity, out of running water. [SPEAKER_01]: Why would anybody want that? [SPEAKER_01]: And how long would it take to rebuild all that? [SPEAKER_01]: Because obviously if we wiped out all that stuff, what's the cost of putting it back together? [SPEAKER_01]: So none of that makes any sense.

[SPEAKER_01]: I mean, did Trump not think about any of this before we started this war? [SPEAKER_01]: The position that we might be in because I think at the end of the day, [SPEAKER_01]: win in the sense that I think they are going to come out of this with the regime intact, they would have stood up to the great Satan America.

[SPEAKER_01]: And I think they may end up negotiating for themselves a better position, maybe the sanctions will be gone, maybe they will be able to start levying a toll on the straight. [SPEAKER_01]: But a lot of what they lost was military equipment. [SPEAKER_01]: I mean, that's no big deal, right? [SPEAKER_01]: I mean, you know. [SPEAKER_01]: And assuming they don't have to rebuild the weapons that were destroyed, economically, they can end up in a better position.

[SPEAKER_01]: I don't know what the U.S. is going to end up gaining other than Donald Trump bragging about this great victory that he won, uh, which again will be in his mind only because Donald Trump doesn't care about reality. [SPEAKER_01]: Remember, his philosophy is if you repeat a lie, often enough, it becomes true. [SPEAKER_01]: And so Trump has repeatedly lied about his accomplishments. [SPEAKER_01]: He's lied about the U.S. economy, about how great it is, about how strong it is.

[SPEAKER_01]: He's lied about inflation, he's lied about tariffs. [SPEAKER_01]: So he's going to lie about winning this war. [SPEAKER_01]: And how much better off we are as a result of this war. [SPEAKER_01]: But I'm confident that our reputation is going to be diminished. [SPEAKER_01]: on the world stage. [SPEAKER_01]: We have we're going to alienate more people. [SPEAKER_01]: We're going to create sympathy for Iran that might not have been there before.

[SPEAKER_01]: We are going to accelerate the desire of the world. [SPEAKER_01]: You know, I just read that the French government had basically sold all the [SPEAKER_01]: in the U.S. custody of Fort Knox and just repurchased it. [SPEAKER_01]: And so they, you know, they now they have the gold outside the United States. [SPEAKER_01]: But I think the world is going to be moving away.

[SPEAKER_01]: We have further distance of ourselves from the world, alienated more of our friends and our trading partners. [SPEAKER_01]: And I think we've projected this threat. [SPEAKER_01]: Again, where the world looks at America, military strength as a liability, rather than an asset. [SPEAKER_01]: Realizing that we could use our military power [SPEAKER_01]: just because it benefits us. [SPEAKER_01]: If there's something that we want to take, we take it, because we can.

[SPEAKER_01]: Might makes right. [SPEAKER_01]: We have the toughest, biggest military, and so we can do whatever we want, because we've got weapons that nobody else has. [SPEAKER_01]: And if I'm another country, I'm thinking, this ain't a good situation here. [SPEAKER_01]: We've created a monster. [SPEAKER_01]: The United States has got too much power. [SPEAKER_01]: and we need to stop financing it. [SPEAKER_01]: We need to stop paying for it.

[SPEAKER_01]: And the way you pull the rug out from under the US military is to pull the rug out from under the dollar. [SPEAKER_01]: You stop subsidizing our trade deficit, you stop subsidizing our budget deficits, allow interest rates to surge, allow consumer prices to surge, and let the U.S. economy implode. [SPEAKER_01]: That's it. [SPEAKER_01]: That's how the world disarms America. [SPEAKER_01]: That's how they win a war before it starts, is to win the economic war.

[SPEAKER_01]: And here Trump just doesn't understand the game. [SPEAKER_01]: He thinks he's got the cards, he doesn't. [SPEAKER_01]: He's got nothing, he's bluffing, and the world has the winning hand. [SPEAKER_01]: Anyway, got one more commercial break, stick around, come on, all right. [SPEAKER_01]: So I want to, you know, talk a little bit again about the markets, and, you know, really, the counter-intuitive movements in the gold market, because gold rallies on war.

[SPEAKER_01]: And I mean, rallies on peace. [SPEAKER_01]: and sells off on war. [SPEAKER_01]: Whenever there's an escalation in the rhetoric, this war is going to get worse, gold goes down. [SPEAKER_01]: But when we have a situation today, it gets de-escalated, there's a ceasefire, gold goes way up. [SPEAKER_01]: That is the opposite of what you would expect. [SPEAKER_01]: If gold is supposed to be a safe haven, you need to save haven when there's war.

[SPEAKER_01]: when it's peace, you don't need to save haven anymore. [SPEAKER_01]: I just nothing that you need to save from because the hostilities are ending. [SPEAKER_01]: But everything is key off the Fed. [SPEAKER_01]: Everything, and it shows you that the Fed just has way too much power in the economy or in the financial markets.

[SPEAKER_01]: Because the reason that gold is rallying and the reason that stocks are rallying and the reason that foreign currencies are rallying and the reason that Bitcoin is rallying is not because there's not going to be a war. [SPEAKER_01]: It's going to be because the markets believe that peace means will have rate cuts. [SPEAKER_01]: That the one thing standing between the markets and the rate cuts is the war.

[SPEAKER_01]: Because the war keeps the price of oil up and that keeps pressure on consumer prices and that takes the rate cuts off the table. [SPEAKER_01]: But the view is that if the war is over, oil prices will come back down, and that means the inflation threat diminishes, and that allows the Fed cover to cut rates. [SPEAKER_01]: And so it's all about rates, nobody really cares about the war. [SPEAKER_01]: It's about interest rates.

[SPEAKER_01]: The rate cuts are not what's important, what's important is where our interest rates relative to inflation, then matter if the Fed cuts or hikes.

[SPEAKER_01]: If inflation moves up more than the Fed hikes rates, or the Fed doesn't hike rates at all, and the Fed and inflation moves up, you're getting a reduction in the real rate of interest. [SPEAKER_01]: And that's bullish for gold. [SPEAKER_01]: And it's not oil prices going up that are inflationary. [SPEAKER_01]: They're not. [SPEAKER_01]: Higher oil prices means higher oil prices doesn't mean higher inflation. [SPEAKER_01]: All else being equal if the price of oil goes up.

[SPEAKER_01]: The price of other things are going to come down. [SPEAKER_01]: Because if I have to spend more money on energy, I have less money to spend on something else. [SPEAKER_01]: And so demand for other things goes down. [SPEAKER_01]: And that means the price of other things will go down. [SPEAKER_01]: Now that's not good news. [SPEAKER_01]: I mean, I don't want to spend more money on energy. [SPEAKER_01]: I want to have more money left over for other things.

[SPEAKER_01]: So my standard living goes down if I have to pay a lot more for energy, but that doesn't mean there's more inflation. [SPEAKER_01]: The only reason that we can pay more for everything is because the Fed creates the inflation. [SPEAKER_01]: The Fed creates additional money so that I can buy oil and still have money left over to buy other stuff. [SPEAKER_01]: So the inflation of the money supply, the Fed accommodation, [SPEAKER_01]: that allows inflation to rise.

[SPEAKER_01]: Not the increase in oil prices, but again, nobody seems to get that. [SPEAKER_01]: They just focus on prices, and they see oil prices, and they think that this is gonna be the limiting factor. [SPEAKER_01]: It's not. [SPEAKER_01]: But even though inflation is gonna be a lot higher, not because oil prices are higher, but because the Fed Prince wore money, [SPEAKER_01]: the the fed is going to ignore that inflation and they're going to cut rates anyway.

[SPEAKER_01]: In fact, even though this war may be over, who the hell knows? [SPEAKER_01]: But whenever it does end, oil prices are not going back down to $60 a barrel. [SPEAKER_01]: I doubt they'll even get much below $80 a barrel and they won't stay there. [SPEAKER_01]: I think oil prices are going to be significantly higher as a result of this war. [SPEAKER_01]: Donald Trump talks about how he expects the price to come collapsing down. [SPEAKER_01]: When the war is over, I don't think so.

[SPEAKER_01]: I think that you're going to have [SPEAKER_01]: more countries that need to stockpile strategic reserves.

[SPEAKER_01]: I think that the risk premium is going to be forever elevated that who the hell knows based on any kind of agreement that the United States comes to with Iran. [SPEAKER_01]: I don't know how anybody can have any confidence that that agreement is going to hold or that Trump is going to somehow be bound by whatever he signs. [SPEAKER_01]: Because I don't think he is.

[SPEAKER_01]: Number, you know, he told the New York Times, Donald Trump, he was asked, you know, what are the limits on your power? [SPEAKER_01]: And this is back when he was talking about taking over Greenland. [SPEAKER_01]: And Trump said there are no limits on my power as Commander-in-Chief. [SPEAKER_01]: I could do whatever I want. [SPEAKER_01]: He said the only limitation is my own mind, my own morality. [SPEAKER_01]: So he doesn't recognize any other authority.

[SPEAKER_01]: He doesn't recognize the Constitution as restraining him. [SPEAKER_01]: He doesn't recognize, you know, international law, you know, conventions, you know, I mentioned, you know, treaties about, you know, not targeting civilians. [SPEAKER_01]: And I don't think he's going to feel bound by any treaty that he sides. [SPEAKER_01]: I mean, look, he wasn't.

[SPEAKER_01]: You know, he talked about how great NAFTA was and then he wanted a violin, I mean, not NAFTA, but USMCA, right NAFTA was the horrible worst trade deal ever. [SPEAKER_01]: And then when he, we got to USMCA, which was pretty much NAFTA rebranded, Trump said that's the greatest trade deal ever, but then he didn't want to abide by that when he started slapping all these tariffs on screw, screw USMCA. [SPEAKER_01]: any kind of truce, any kind of ceasefire, peace deal is permanent.

[SPEAKER_01]: So everybody is going to have to be prepared. [SPEAKER_01]: We'll hope that the situation doesn't flare up again, but we better prepare. [SPEAKER_01]: We don't want to be caught off guard. [SPEAKER_01]: And so it's going to put a bid, a premium in the oil market. [SPEAKER_01]: Prices are not going back down. [SPEAKER_01]: And obviously, we already had.

[SPEAKER_01]: and inflation problem prices were rising for just about everything except oil that was the one bright spot that we had everything was getting more expensive but oil was cheaper well now everything's going to be more expensive and oil oil is going to be going up to and the economy is going to continue to weaken look we get more economic data this week fact we got some today on durable goods and and and that was that was a week number that we

[SPEAKER_01]: You see, um, I have that here, um, yeah, durable goods orders decline 1.4% in February. [SPEAKER_01]: Just before the war, the consensus was for a drop of 0.2 and we went down 1.4. [SPEAKER_01]: The prior month, which was reported unchanged in January, that was revised to minus 0.5. [SPEAKER_01]: So, you know, a big drop, a lot of it obviously came from transportation because extra transportation orders were up.

[SPEAKER_01]: But overall, it indicates that the economy is weakening, but we're going to get more data. [SPEAKER_01]: We're going to get the final read, I think, on Q4GDP, on Thursday. [SPEAKER_01]: And remember, the last look we got was 0.7. [SPEAKER_01]: That was half of the 1.4% that they were estimating. [SPEAKER_01]: It was just 0.7. [SPEAKER_01]: We'll see if that gets revised any lower. [SPEAKER_01]: But it was already very weak. [SPEAKER_01]: And I think Q1 is going to be even weaker.

[SPEAKER_01]: We just finished that now because now we're in April. [SPEAKER_01]: But we don't have those numbers yet. [SPEAKER_01]: on Friday. [SPEAKER_01]: Now, this is the March number. [SPEAKER_01]: These are the estimates. [SPEAKER_01]: I'm going to talk about these. [SPEAKER_01]: I'm going to do a a shift goal Friday market rap. [SPEAKER_01]: So I'm not going to do another podcast, but on Friday, I'm going to record the shift goal Friday market rap.

[SPEAKER_01]: So make sure and tune into that on the shift gold YouTube channel.

[SPEAKER_01]: on by the way again on this if you're not a subscriber to this channel subscribe uh... like the video leave a comment and i'm leaving and i'm i'm feeling a little under the weather i was on the boat i did my last podcast from sea [SPEAKER_01]: I was, you know, a number of people were able to recognize exactly where in the BVI I was based on the background from from that video, which I was impressed that people knew because there was so many different islands there.

[SPEAKER_01]: But I guess if you've been there enough, you start to recognize them. [SPEAKER_01]: Um, but I, I, I, I, I don't know. [SPEAKER_01]: I picked up something. [SPEAKER_01]: I, yes, today I started feeling sick on the way back to sure. [SPEAKER_01]: And I think I picked it up from my, my daughter. [SPEAKER_01]: She was, you know, I always get it worse. [SPEAKER_01]: My kids get sick and then I get it worse than they did. [SPEAKER_01]: So I'm not feeling that great.

[SPEAKER_01]: I'm doing this video, but tomorrow I got to leave. [SPEAKER_01]: I'm, I'm speaking at an event in North Carolina on Thursday. [SPEAKER_01]: So I'm flying out tomorrow and coming back on Friday. [SPEAKER_01]: So I'm going to be traveling, but I'll be back Friday to do the [SPEAKER_01]: shift gold market ramp and I'll talk about these numbers that we've got. [SPEAKER_01]: But just looking at the estimates for the CPI, the consensus for the increase in March, right?

[SPEAKER_01]: And this is obviously with with the energy prices is a 0.9% increase in headline CPI. [SPEAKER_01]: That's a huge [SPEAKER_01]: is estimated at point three.

[SPEAKER_01]: So that would bring the year over year headline number to three point eight no no they're looking for three point four for the headline and two point seven for the year over year core those are still big numbers moving in the other direction headline going from two point two point four the three point four [SPEAKER_01]: But we've got a long way to go. [SPEAKER_01]: The economic data is clear. [SPEAKER_01]: In fact, I pointed this out on my last podcast on Friday.

[SPEAKER_01]: And I read more polls that Donald Trump now, when it comes to independence, he has the lowest approval rating ever of any president, even lower than Harry Truman. [SPEAKER_01]: Right? [SPEAKER_01]: Because when you're looking at the independence, [SPEAKER_01]: Belweather because you eliminate the the die hards on either side, right? [SPEAKER_01]: Because the Democrats are going to be predisposed to hate Trump no matter what.

[SPEAKER_01]: And the Republicans are going to be predisposed most of them anyway. [SPEAKER_01]: The love of no matter what. [SPEAKER_01]: So if you take independence, right, that they have no party affiliation. [SPEAKER_01]: So they have no, no horse in the race or dog in the race. [SPEAKER_01]: So they're going to be a little bit more objective, by definition, right?

[SPEAKER_01]: They don't have any loyalty to anyone party, and when you ask people, do you approve of the way the president is handling the economy? [SPEAKER_01]: The average guy or gal doesn't really know about the overall economy. [SPEAKER_01]: I mean, they're too busy, you know, just trying to get by, right?

[SPEAKER_01]: They don't really consider, well, what are the GDP numbers, you know, what's the budget deficit, you know, what's the productivity numbers, and in many cases, they don't even look at the stock market. [SPEAKER_01]: The average guy, when he's asked about, do you approve or disapprove of how the president is handling the economy? [SPEAKER_01]: They think about it from their own perspective. [SPEAKER_01]: How am I doing? [SPEAKER_01]: Am I better off or am I worse off?

[SPEAKER_01]: And if the person pulled feels good about their own circumstance and things things are getting better, they're gonna say, yeah, I approve of the president's handling of the economy, working for me, things are getting better for me. [SPEAKER_01]: So I approve.

[SPEAKER_01]: If on the other hand, things are getting more difficult, [SPEAKER_01]: If people feel that they're worse off, they're going to say no. [SPEAKER_01]: I don't approve of the way the president is handling economy, right? [SPEAKER_01]: He's doing a bad job. [SPEAKER_01]: Things have got worse for me. [SPEAKER_01]: I don't approve of that.

[SPEAKER_01]: And so because Trump has record low, record low, [SPEAKER_01]: approval ratings or record high disapproval ratings among independents on the economy specifically on the economy shows you just how bad the economy is Donald Trump is saying we have the greatest economy in history not just the greatest economy recently not just a better [SPEAKER_01]: But we have the greatest economy in history.

[SPEAKER_01]: At the same time, he says that, under Biden, we have the worst economy in history. [SPEAKER_01]: We had a dead economy. [SPEAKER_01]: And now we're the hottest economy in the world. [SPEAKER_01]: Now, the independent voters who are being pulled, they were alive. [SPEAKER_01]: when Biden was president. [SPEAKER_01]: So they live through the worst economy in the history of the world. [SPEAKER_01]: And now they are living in the greatest economy in the history of the world.

[SPEAKER_01]: Wouldn't you think that they would give Trump credit for that? [SPEAKER_01]: Wouldn't you think he would have high approval ratings? [SPEAKER_01]: If in such a short period of time, Trump was able to take us from the worst economy in history to the greatest economy in history. [SPEAKER_01]: yet the people who live through both are not happy about that. [SPEAKER_01]: They're not excited.

[SPEAKER_01]: Gee, yeah, I'm glad the Donald Trump brought us, you know, from the break of annihilation there. [SPEAKER_01]: It was, it was so miserable under Biden. [SPEAKER_01]: And now this is an economic boom, obviously. [SPEAKER_01]: If the people are saying that the economy is worse now, then it was under Biden. [SPEAKER_01]: What does that say? [SPEAKER_01]: Because if Biden, if we had the worst economy in history under Biden, and now it's worse, what does that mean about Trump?

[SPEAKER_01]: Now we have the worst economy in history, right? [SPEAKER_01]: If Trump was accurate about his description of the Biden coming, so this, to me, is a much more important [SPEAKER_01]: indicator. [SPEAKER_01]: Forget about these government numbers. [SPEAKER_01]: They're all fudged right there. [SPEAKER_01]: They've been reversed engine year and and they're designed deliberately to see. [SPEAKER_01]: But when you ask people how they're doing and they tell you I'm doing awful.

[SPEAKER_01]: That's more believable. [SPEAKER_01]: And the Fed is going to be under intense pressure to cut rates. [SPEAKER_01]: regardless of inflation. [SPEAKER_01]: And the Fed will excuse it. [SPEAKER_01]: Bell attributed to temporary transient factors. [SPEAKER_01]: Bell attributed to the lingering effects of the war, the lingering effects of tariffs. [SPEAKER_01]: They are going to focus on weakness in the economy and weakness in the labor markets.

[SPEAKER_01]: And both are going to be even weaker. [SPEAKER_01]: in the aftermath of this war and whatever kind of peace we end up negotiating to bring an end to it if it doesn't. [SPEAKER_01]: So I think we're going to get the cuts. [SPEAKER_01]: I think the markets are right in that, but I would not be buying into the US stock market. [SPEAKER_01]: I think the US stock market after this big rally, [SPEAKER_01]: I think you can roll over.

[SPEAKER_01]: I mean, dials up almost a thousand points now. [SPEAKER_01]: The dial was way overpriced before the war started. [SPEAKER_01]: And it didn't even go down that much during the war. [SPEAKER_01]: There's still much, too much optimism out there in complacency for a very overvalued US stock market. [SPEAKER_01]: But that does not mean that you should be sitting in cash. [SPEAKER_01]: You should not be.

[SPEAKER_01]: because as overvalued as the US stock market is, the US dollar is every bit as overvalued. [SPEAKER_01]: And the dollar is gonna go down. [SPEAKER_01]: And that means if you're sitting in cash and your cash is dollars, you're losing purchasing power.

[SPEAKER_01]: So instead of owning dollars, you wanna own gold and silver, [SPEAKER_01]: you want to go over to shift gold and buy some gold and silver you want to open up a teagull the count if you don't already have one and get yourself some teagulled in addition to the physical gold and silver that you take delivery of. [SPEAKER_01]: Move more money out of US stocks.

[SPEAKER_01]: This rally I don't believe is going to last, but I think emerging markets are going to emerge from this in much better shape. [SPEAKER_01]: I think foreign markets are going to be in better shape because I think money is going to continue to flow away from the US dollar away from the US bond market away from the US stock market and that money is going to come back to where it came from. [SPEAKER_01]: And this is a huge wave that you want to write it.

[SPEAKER_01]: You don't want to get crushed by it. [SPEAKER_01]: You want to write it for as long as you can. [SPEAKER_01]: Most people have no idea that this is what's happening. [SPEAKER_01]: So there'll be some euphoria. [SPEAKER_01]: I would sell under the rally in US stocks. [SPEAKER_01]: But I keep buying into gold and silver buying in the foreign stocks buying into the mining stocks.

[SPEAKER_01]: You know, we mentioned I have a for the first time I've got a sponsor West Red Lake mining and they just did a commercial first time I've done that and I thought it was interesting because I don't that stock for some time and they approached me about sponsoring. [SPEAKER_01]: the podcast.

[SPEAKER_01]: I was like, well, yeah, you know, a lot of times I get approached by financial companies and I turn them down because I, you know, I guess I don't want to recommend it, but here was something I already owned it. [SPEAKER_01]: And, you know, I said, well, yeah, you know, I mean, I see gold companies advertising, they advertise on television, you know, turn on financial news, you see gold companies, right now advertising, they have investor relations.

[SPEAKER_01]: So why not why not have a company? [SPEAKER_01]: Maybe I'll get more company sponsoring my podcast as long as I like to stock. [SPEAKER_01]: Because I think people should be buying gold mighty companies. [SPEAKER_01]: I think this is going to be a huge boom. [SPEAKER_01]: You can either buy individual stocks on your own, or you can buy into my mutual funds. [SPEAKER_01]: You can buy into my separately managed accounts.

[SPEAKER_01]: Have us managed the portfolios for you in gold stocks. [SPEAKER_01]: But they had a pretty big pullback. [SPEAKER_01]: And the war was the catalyst for the pullback.

[SPEAKER_01]: even though the war should have been bullish. [SPEAKER_01]: It was the catalyst for a shakeout. [SPEAKER_01]: But we have set the stage for the next leg up. [SPEAKER_01]: And I do expect the mining stocks to lead the metal. [SPEAKER_01]: I think the GDX, the GDXJ, which were not the best way to buy, but as an indicator, a benchmark. [SPEAKER_01]: I believe those mining stocks will make new highs for this move.

[SPEAKER_01]: They will take out their February highs before Golden Silver take out their highs. [SPEAKER_01]: And I think that's a healthier bull market. [SPEAKER_01]: And I am very well positioned to benefit from that. [SPEAKER_01]: And again, I would encourage all of our listeners as podcasts to try to use this pullback. [SPEAKER_01]: And I've been recommending the entire time the market was under pressure. [SPEAKER_01]: to increase positions.

[SPEAKER_01]: And I would continue to advocate for that. [SPEAKER_01]: This was a gift. [SPEAKER_01]: And even though the markets will be up a lot tomorrow and maybe buy the open isn't the greatest move. [SPEAKER_01]: Maybe wait for a pullback. [SPEAKER_01]: But. [SPEAKER_01]: the markets are still significantly lower than where they were even if we have a huge gain tomorrow. [SPEAKER_01]: We're still significantly lower. [SPEAKER_01]: We're still more than 20% below the peak.

[SPEAKER_01]: So it's a great opportunity to buy back in anyway. [SPEAKER_01]: That's it for today's podcast. [SPEAKER_01]: Again, as I said, don't forget, I'm going to do the Friday podcast on the shift gold channel. [SPEAKER_01]: So if you're not currently a subscriber, go, oh, one thing I meant to mention, I totally [SPEAKER_01]: because I mentioned on this podcast that I won my foil lawsuit against the IRS.

[SPEAKER_01]: Took me over a year, the judge basically let him have it and told the IRS, you're wrong.

[SPEAKER_01]: You have no justification for withholding these documents. [SPEAKER_01]: You've got to give shift the documents that he requested. [SPEAKER_01]: You've got to unredact them. [SPEAKER_01]: It's hundreds and hundreds of pages. [SPEAKER_01]: You have no valid justification. [SPEAKER_01]: You need to produce this information. [SPEAKER_01]: Oh, and by the way, the other search is that you refuse to do. [SPEAKER_01]: You need to do those because you're wrong.

[SPEAKER_01]: He was very specific in what he wanted. [SPEAKER_01]: And your reasons for rejecting the search were wrong. [SPEAKER_01]: Basically, I won a total victory from a judge who gets it. [SPEAKER_01]: Federal judge in Washington, D.C. [SPEAKER_01]: basically said the IRS was wrong. [SPEAKER_01]: And the information that I've been requesting for years should have been supplied to me years ago. [SPEAKER_01]: And the judge, I put the entire opinion up on the nine fraud website.

[SPEAKER_01]: If you go to nine fraud.com, read this opinion. [SPEAKER_01]: It's not like a short opinion. [SPEAKER_01]: The judge goes into detail about why the IRS was wrong. [SPEAKER_01]: He has all of the case law that he cites. [SPEAKER_01]: and he issues the order, you know, produce these documents. [SPEAKER_01]: Give the shift of documents. [SPEAKER_01]: Well, now I've found out from my attorneys that they're not gonna give me the documents.

[SPEAKER_01]: The first thing they're gonna do is ask the judge to reconsider the ruling. [SPEAKER_01]: Change his mind. [SPEAKER_01]: Now, I don't know what they're going to do to try to put pressure on him to get his mind right. [SPEAKER_01]: Hopefully he stands pat because I don't see how he could change his mind given how, you know, one sided, the ruling was in my favor. [SPEAKER_01]: I mean, it wasn't even close.

[SPEAKER_01]: It was like hands down denied everything the government wanted and granted everything I wanted, basically, but they've also told me that if [SPEAKER_01]: the judge doesn't change his mind.

[SPEAKER_01]: But then there's still not going to give you the information, because they're probably going to have the justice department appeal it to the district court, circuit court, and try to get an appeals court to overrule the trial court to say the government doesn't have to give me this information. [SPEAKER_01]: I mean, think about the extent to which the US government is going to avoid transparency.

[SPEAKER_01]: I'm asking to see the information, the emails that went back and forth between IRS agents and IRS agents and ATO agents and HMRC agents and OSIF about shutting down my bank, about why they decided to shut it down. [SPEAKER_01]: Why can't I see this information? [SPEAKER_01]: What the hell are they hiding?

[SPEAKER_01]: If there were legitimate reasons, [SPEAKER_01]: Then why can't they let it out in the open? [SPEAKER_01]: If they didn't do anything wrong, if I'm the one that did something wrong, right? [SPEAKER_01]: They investigated my bank for years and years. [SPEAKER_01]: In fact, then the criminal investigation started, January of 2020. [SPEAKER_01]: This is six years later, more than six years.

[SPEAKER_01]: Now, one of the things they're claiming is they can't release the information because the investigations are still ongoing. [SPEAKER_01]: Bullshit. [SPEAKER_01]: They'd be investigating me for six years, and they haven't charged me with anything. [SPEAKER_01]: They haven't charged anybody at the bank. [SPEAKER_01]: They haven't charged any of the banks' customers. [SPEAKER_01]: There's no way this investigation is still going on.

[SPEAKER_01]: We haven't received a single request for a single document in years, years. [SPEAKER_01]: But, I'm asking, okay, the investigation is basically over. [SPEAKER_01]: Show me this information. [SPEAKER_01]: I'm asking, I was the one that was investigated. [SPEAKER_01]: Show me the dirt you got on me. [SPEAKER_01]: I'm asking for these emails if I didn't think wrong, they should be happy to produce them.

[SPEAKER_01]: If they didn't do anything wrong, if they were legitimate in what they did, they would produce the documents. [SPEAKER_01]: On the one that's demanding the documents about my own criminal investigation, be made public. [SPEAKER_01]: So everybody could see what they investigated. [SPEAKER_01]: And the reason is, I know, I know that if these documents are ever given to me, unredacted, I know what they're going to show.

[SPEAKER_01]: They're going to show IRS agents saying, what are we going to do? [SPEAKER_01]: We spent all this time, and all this money, investigating Schiff and his bank. [SPEAKER_01]: And it turns out they did nothing wrong. [SPEAKER_01]: Not only did they not do anything wrong, they went above and beyond. [SPEAKER_01]: They did everything right. [SPEAKER_01]: I've never seen a bank that had such strict compliance. [SPEAKER_01]: I mean, we couldn't have been more wrong.

[SPEAKER_01]: They had a tougher ML and KYC program, than any we've ever encountered. [SPEAKER_01]: So what do we do now? [SPEAKER_01]: How can we make this innocent bank look guilty? [SPEAKER_01]: How do we get out of jail and salvage our reputation? [SPEAKER_01]: What can we do? [SPEAKER_01]: And they came up with this brilliant plan to try to convince the Puerto Rican regulators to shut down my bank on a pre-tats. [SPEAKER_01]: Hey, you got to shut down shift's bank.

[SPEAKER_01]: You know, [SPEAKER_01]: I don't care why make up some reason we need to shut it down and then you know you need to help us frame the bank for money laundering and tax evasion we got to make it look like this bank is guilty of committing these crimes because not only did we investigate them but we leaked into the media and 60 minutes in New York Times they ran all these stories about this investigation we can't walk away empty.

[SPEAKER_01]: We need to have something to show for this investigation. [SPEAKER_01]: We need to scalp. [SPEAKER_01]: So I know it's probably going to be all out there in black and white. [SPEAKER_01]: Because these guys probably thought, no big deal. [SPEAKER_01]: We'll have these conversations. [SPEAKER_01]: We'll put what a shift is never going to get to it. [SPEAKER_01]: They probably weren't thinking about it.

[SPEAKER_01]: So I'm sure that all of this criminal conduct will just be there for all to see. [SPEAKER_01]: And I think that's why they are resisting this so much. [SPEAKER_01]: That's why it's taking me years and years and years. [SPEAKER_01]: And well over a hundred thousand and climbing in legal bills to force the government to obey its own law. [SPEAKER_01]: The Freedom of Information Act says that I'm entitled to this information.

[SPEAKER_01]: The judge agreed normally [SPEAKER_01]: Nobody even gets to a judge. [SPEAKER_01]: You submit a request, and the IRS just denies it, the government denies it, and then you're so well. [SPEAKER_01]: They just deny it, you can't have it. [SPEAKER_01]: Most people just walk away, they don't get it, because they don't want to file the lawsuit. [SPEAKER_01]: They don't have the time, they don't have the money.

[SPEAKER_01]: But I did, I hired the lawyers, I took the time, I spent the money, and they are dragging this out. [SPEAKER_01]: They won't even accept that they lost. [SPEAKER_01]: They've got to appeal it. [SPEAKER_01]: because it's so important to keep the public in the dark. [SPEAKER_01]: The IRS does not want the light of truth shine on what they're doing. [SPEAKER_01]: And of course, this is Donald Trump's Justice Department.

[SPEAKER_01]: So if the Justice Department appeals this decision because they want to continue to cover up, it's on Donald Trump's watch. [SPEAKER_01]: so don't think you know the swap is being drained it's not all the corruption is still there the government does not want to expose this they just want to to cover it up but anyway I will keep everybody posted and when they do appeal [SPEAKER_01]: And then I have an opportunity to object.

[SPEAKER_01]: I'm going to post all that stuff on the nine fraud websites. [SPEAKER_01]: So you can read how your government is trying to argue that it shouldn't have to make this information public. [SPEAKER_01]: And I'll be arguing that they need to. [SPEAKER_01]: But anyway, that's it for today's podcast. [SPEAKER_01]: See you on Friday on the shift gold Friday market rap. [SPEAKER_01]: Bye for now.