The CIA Misplaced Forty Million In Gold

A missile “ceasefire” that still trades fire. A voting system people don’t trust. A former CIA official accused of stashing $40 million in gold bars. If you’ve felt like the news is a stack of unrelated scandals, we try to show the wiring underneath it all: incentives, power, and what happens when institutions expect the public to stop asking questions. 

We open with a clear-eyed Iran update, including the Strait of Hormuz, drone threats, and why fractured chains of command can keep a conflict alive even while negotiators talk peace. Then we shift into U.S. politics and election integrity, from mail-in ballot tracking and residency rules to the broader issue of legitimacy. We also dig into claims around foreign influence narratives and why, true or false, they reshape how people view everything from January 6th to state-level reform efforts. 

From there, we hit the accountability carousel: the CIA gold-bar case and what it suggests about internal controls, the E. Jean Carroll investigation thread and how civil liability gets misunderstood, and new reporting on internal DOJ concerns tied to the Mar-a-Lago raid. We also talk grand jury secrecy and why reforms matter when prosecutors control what stays hidden and what gets leaked. 

We close by zooming out to the policy and money layer: third-country deportation agreements, concerns about U.S. tech leadership and China-linked affiliations, social services fraud enforcement, energy dominance through oil and gas leases, and the argument that productivity growth can beat debt faster than money printing. That naturally leads to AI and jobs, plus Bitcoin, inflation, and the Cantillon effect as the quiet force behind who wins first when new money enters the system. Subscribe, share this with a friend who argues politics with you, and leave a review with the single headline you think mattered most.

Transcript

Morning Banter And Coffee Ritual

SPEAKER_19 1:09

Good morning, peasants. It's a little bit of a hesitant. Good mornings. Was the opener kind of messed up?

SPEAKER_18 1:14

Yeah, a little bit.

SPEAKER_19 1:15

That's kind of weird. We were dancing along and then it got a copy. Good morning, Shantini. Glad to have you. Good morning, good morning. Ferrasure, another great morning in Boise. And then Ron, you've got your hellos in there. They always throw me off. I like, I don't usually bring your good morning, peasants. Got you, Ron. All right, guys. I uh had a last last night was one of those nights where I woke up like every hour, and my wife had to wake up early this morning. So her alarm clock was going off about when I got up. Okay. And I'm in the other room, you know, doing my thing, and I can hear her alarm going off and going off. I'm like, is she gonna wake up? Anyways, she finally wakes up and apparently she was having a dream. My daughter's wedding's in a couple weeks. She was having a dream. She was at the wedding and the alarm clock was the blender, and she kept telling people in the dream to go turn off that dang blender, and it was the alarm clock. I was like, oh geez, honey. One more day, one more day of early rising, and then we get to sleep in an extra hour on Saturday morning. Mate Izo, good morning, Taylor and Ron. Glad you made it. Carlitz, good morning, everyone. Ooh, Markin, you made it. 697. Good morning from Wisconsin. Carlito and Tiffany from YouTube. Howdy all. Glad you guys made it. And I know why you guys get here bright and early every morning. It's for the simultaneous sip. You know, it's so funny when I'm out and about meeting with just normal everyday people. Someone will say something like they'll slip in a, well, maybe we could have a simultaneous sip. And I look at him, I'm like, what? You're a podcast listener. You're a podcast listener. You didn't even say anything. We've been talking for 45 minutes. You know way more about me than I know about you. So we're gonna have the simultaneous sip. And all you need is a cup or a mug or a glass, a tankard, a chalice, a stein, a canteen, jug, or flask, a vessel of any kind. Fill it with your favorite liquid. I like coffee. And join me now for the unparalleled pleasure of the dopamine hit of the day. The thing that makes everything better is the simultaneous sip, and it starts right now.

SPEAKER_32 3:05

You're doing the job differently than Kamala did it. Uh well, I I I don't have you know four shots of vodka before every meeting. That's that's one way I think that Kamala really tried to bring uh her herself into the role is is these word salads. And I think that I would need the help of a lot of alcohol to answer a question the way that Kamala Harris answered questions. I mean, look, man, I I don't know. My sense is, and this is a little bit of guesswork, obviously. I don't talk to Kamala Harris or Joe Biden very often, but my sense is that they had a lot of alcohol fueling that administration.

SPEAKER_19 3:42

That's a sense they have. You know, maybe we should add some Bailey's in the morning coffee. It really should mess up the rest of the day. We'll be getting over the show at about one o'clock.

Iran Ceasefire And Strait Tensions

SPEAKER_19 3:54

All right, so and a morning Iran update. There was more missiles being fired back and forth last night.

SPEAKER_22 4:02

Over the weekend, President Trump said a deal with Iran was largely negotiated. Now he says talks aren't quite there yet, but he still says an agreement is within reach.

SPEAKER_07 4:13

Iran is very much uh intent. They want very much to make a deal so far. They haven't gotten there. We're not satisfied with it, but we will be. We will be either that or we'll have to just finish the job. But uh the navy is gone, as I've said a thousand times. The navy is gone, the air force is gone, everything's gone, and they're negotiating on fumes.

SPEAKER_22 4:36

Perhaps complicating matters. This morning, the Islamic Revolutionary Guard Corps says it targeted a U.S. airbase in what CENTCOM calls an egregious ceasefire violation. Ceasefire uh violation, and uh CENTCCOM says Iran launched a ballistic missile toward Kuwait that was successfully intercepted by Kuwaiti forces. Iran calls it retaliation after U.S. forces shot down five Iranian one-way attack drones over the Strait of Hermuz. The U.S. says it also hit an Iranian ground control station in Bandar Abbas before it can launch a sixth drone. Both nations are warning of more aggressive action if necessary. President Trump is threatening Iran and Oman if they strike a deal to control the Strait of Hermuz as well. And he's brushing off concerns that he's facing political pressure from the midterms, maintaining Iran can't have a nuclear weapon. Secretary of State Marco Rubio says they'll see if they can make progress in the coming days.

SPEAKER_28 5:26

Now, the president's preference, your preference is told it repeatedly as always to negotiate these things and to figure out if you can have agreements. Diplomacy is always the first option. And we continue to work on that.

SPEAKER_22 5:47

And regarding Iran's stockpile of highly enriched uranium, the president says he's not comfortable with Russia or China taking it.

SPEAKER_19 5:54

Yeah. So sounds like I think the situation in Iran is really tricky because their leadership has been decapitated, and they've got different factions within the Iranian regime that have power. The way they they set up their military, and we didn't, I didn't know this prior to our attack on Iran, but the way they set up their military was assuming that there was a head of the snake strike, that you got rid of this the central command, they wanted to learn from the mistake that Saddam Hussein had made in Iraq, where he was running everything from his bunker. Every decision that got made, every missile that got launched, he had to make that decision. Well, one man in a large-scale war isn't going to be able to make every decision in real time. And so they gave power to the individual generals in their regions to basically prosecute the war however they saw fit, that they didn't have to loop back in for directions from the Ayatollah or from Central Command. So what's happened is you've got like the group that's down in that part of the Strait of Hormouts, they're acting independently from the people that are negotiating this peace deal through Afghanistan. They're holed up in some bunker somewhere near Tehran and they're like, Yeah, let's be done with this thing. But the guys that are down on the coast, they don't feel that way. Or the guys that are, you know what I'm saying?

SPEAKER_18 7:08

Right. They're all prosecuting it the best that they know how individually.

SPEAKER_19 7:12

Without presumably great communication back and forth.

SPEAKER_18 7:15

They don't really bad coordination.

SPEAKER_19 7:17

Yeah, not great coordination. And so that creates a situation where it's like, well, we're in a ceasefire with the negotiators, they want to get something done, but this general that you've lost communication with, or at least a command structure with, is still launching drones. And so we're just kind of sitting back playing whack-a-mole at this point. But at some point, Trump's gonna say, Hey, I'm sick of it, and he's gonna start blowing up bridges, or he's gonna start doing something significant. In fact, I'm surprised they haven't already taken out infrastructure that allows them to move equipment to that part near the Strait of Hormouths where there's a pinch point. It seems like most of the threat is coming from those mountains right there. There's got to be a bridge back behind it or something that could cut off this signal. Like, listen, you know, you're now your supplies are now cut off. You're gonna run out of food. Those are some pretty dry hills out there. You know, there's probably not a lot, not a lot of harvest coming in. So that's that's pretty interesting. Madam M, glad you made it this morning in the chats. Morning. And Deplorable D two, so glad you made it. It's so fun to have you here. It's so fun when I meet someone in real life, and then we get to get to see them. And this is pretty relevant to us. So Iran is trying to play a politics game. Iran can't fight us on the open seas, clearly, their navy's sitting on the bottom of the ocean. They can't fight us in the skies. I'm not sure they have an aircraft left to launch. They can't fight us through cyberspace. Space Force has got them down on lockdown. They can't, they can't run. Space Force has got eyes everywhere, right? So they're kind of in a little bit of a pickle. So the only thing they can do is they can run a psyop campaign. They can try to wait out the president politics-wise for the midterms. Hopefully, that our politicians who side with the enemies and aid and abet the enemies of America can lay a blow on Trump, or that somehow the pressure from the American people to stop this war, right, would become so intense that he would have to take a losing position and pull out. Trump has expressed he is not concerned about the midterm.

SPEAKER_07 9:13

Their economies uh in free fall. They have 250% inflation, their money has no value, their whole uh economic system is broken down. They thought they were going to outweigh me, you know, we'll outweigh him. He's got the midterms. I don't care about the midterms. Look what happened last night. That was the prelude to the midterms. People understand it. They know that very simple. Iran cannot have a nuclear weapon. I'm doing that for the world. I'm not doing it just for us.

SPEAKER_19 9:42

I think what's slowly happening, just like in any political kind of roller coaster week on, Trump has the MAGA base. They're not going to abandon him. There's some 40% of the American voters that are just like, listen, if Trump says it, I'm doing it. Like I'm I've hitched my wagon to Team Trump. So he's got he's got a floor to what he can do. Hey, Ron, can you come up here and turn down my light? I feel like I'm washed out here. Actually, you know what? It looks really good on camera. Never mind. It's just my my my the view I've got makes it look like I'm all funny. Yo, so vain. I'm about as least vain a podcaster as you get. I wear hoodies every morning. I'm always wearing a hat.

Midterms Talk And Election Watching

SPEAKER_19 10:20

I'm wearing sweatpants right now, you guys. Don't get too, don't go, don't get too. This is an early morning show. I'm lucky to be here on time. Okay. So, anyways, he's got this political wave that he's he's got below him, right? The MAGA can push an election. If an election is close, MAGA can kind of get that swing. And he's always pulling in independent voters. There are independent voters out there who always knew, you know, the John Fettermans of the world who always knew Iran was bad. And when the Democrats are all of a sudden trying to support Iran, they're like, hey, this doesn't really make any sense. There's a lot of Democrat voters out there that have supported Israel over the years, and all of a sudden they're looking at their own party going, why do we hate Israel so much? Right. So there's a lot of these little niche issues that Trump can pull people over with. And what we saw in this, these, this recent round of uh early voting, primary voting, is the Trump endorsed candidates swept the line. So Trump's not worried about the elections. The other thing, too, and I think this is really significant, is there's a lot of eyes on these elections. There's some big actions that have been taken to try to secure the elections, but just the watching, just knowing that when you're running an election, people are watching. This is why down in Texas, as soon as they had an issue with their poll machines and the remote transmittal of the poll books, they immediately came out and talked about it in the press. Like just came walked right out and talked about it. That was not happening in 2020. Machines were breaking down and they're like, keep that on the down low. We'll count these ballots later tonight. You know, like that wasn't happening. Right now, they're wanting to get out in front of it. It's kind of like a full disclosure scenario. If anything's going wrong, these election workers are like, whoop, raise the hand, cause a stink. I don't want to be the one responsible for a cover-up. Right. I think that has a significant impact. On top of that, Trump's did sign an executive order ordering the United States Postal Service to track every single person that a ballot gets sent to so that you can track who they're coming back from, that they're going to put a special code on every single envelope so that they can track that. I think that is a good way to tighten up the vote by mail. It also produces a federal moment where they can clean up the voter rolls. They can de facto clean up the voter rolls by not sending ballots to people that may otherwise be on voter rolls. This would force them to request a ballot or it would force them to come in person. People on the voter rolls that the United States says, hey, these aren't federal citizens, so they're not getting a federal ballot. Now, a Daily Mail reports reports that yesterday a judge gives shock green light to his voting power grab. And this is from Ewan Palmer from Daily Beast, very liberal magazine here. A federal judge has declined to block an executive order signed by Donald Trump that targets his longtime enemy, mail in ballots. Oh no. Trump's going after his enemies list, and mail in ballots are at the top of it. U.S. District Judge Carl Nichols, he's from the DC circuit, a Federalist Society member who was nominated to the bench by Trump in June 2018, ruled that Democrats hopes to plan, block the plan, which could create a federal list of citizens eligible to vote, and ask the U.S. Postal Service to only mail ballots to those people where premature. Given the executive order does not command plaintiffs to do anything, and that no agency has yet, pursuant to the order, acted pursuant to the order in any way that could harm the plaintiffs, they have not suffered any harm at the present. So basically, what he's ruled is he's going to allow the Postal Service to put their plan into place, and then they can come back and sue. So that's fun. They can come back after the ballots have been sent out and sue. So it's just crew, it's just kicking the can down the road. So say, hey, since they haven't harmed anybody yet, they haven't done anything that you can prove harm, like maybe they're going to send a ballot to every single person on the list. Maybe it's a lot of bluster until they actually eliminate some people from the voter lists and don't send them a ballot. There's no standing yet. So just kicking the can down the road a little bit. But but if you don't feel it in the zeitgeist that the election systems are changing, I believe the Supreme Court just allowed Alabama to return to their all Republican, uh uh all Republican redistricting. I think Missouri just got their Supreme Court to approve their redistricting. Now Missouri only has one Democrat consider the two or three that they had before. Uh South Carolina is that it was passed to basically be all red, and then it went to the court, and then there's now it's sitting at the Supreme Court. It's likely going to be all red. So we're starting to see some real movement on the Republican side to gobble up these available seats through the redistricting. On top of that, the RNC yesterday announced another win for voter integrity. RNC wins North Carolina election integrity case over non-resident voting. Yesterday, the Republican National Committee secured a legal victory after a North Carolina court ruled that a state board of elections directive that a state law allowed certain individuals to have never resided in the state to register to vote was unconstitutional. Well, go figure wrong. If you've never lived in North Carolina, you shouldn't be able to vote in North Carolina. This is a clear win for fair and lawful elections, said RNC Chairman Joe Grutters. The court upheld that North Carolina constitute upheld the North Carolina Constitution made it clear that only North Carolina resident residents can vote in the state. The RNC will keep fighting to ensure only eligible citizens can vote. Now you might think to yourself, well, is that even significant? Like the fact that only residents can vote. I mean, how many non-residents did they have on the on the voter rolls? And the answer is, I don't know. But if it's over one, it's too many. Right? If I'm a resident of North Carolina, which we have a huge number of listeners out of North Carolina, it's probably our number two state next to Washington State. Did you know that? Yeah.

SPEAKER_18 16:15

No.

SPEAKER_19 16:16

Yeah. So shout out to all the North Carolina listeners. I see a lot of you guys download audio, so thank you very much. Appreciate it. That's how I track you. I can't track where you're at unless you're in the chats on our video feeds. But for those of you that download in North Carolina, thank you very much. We got a lot of you guys. We need to do a uh peasants meeting out there. In fact, I told Gary we need to go out there with a political remodel because I know there's a group of people that are involved in a local assembly out there that listens. So that's really fun. Speaking of elections, another thing in the back pocket of Donald Trump that is not making the mainstream news in any way, shape, or form, unless you're listening to channels like America's Voice or The Peasants Perspective. This is

Venezuela Claims And Stolen Vote Fears

SPEAKER_19 16:57

my attorney who I'm using for my J6 settlement case, Peter Ticklin. And he's and he is also deeply involved in the election rigging apparatus and kind of on the front line of all that news. He's a part of many of those, I don't know if you'd call them lawsuits, but doing a lot of the research behind J6 and the stolen election. And he gave this same update to January 6th defendants on a Sunday Zoom call that he held with his clients, which I believe should be confidential, although I'm sure a million people recorded it. Um, but you know, attorney client privilege, right? Anyways, but he also said this on a Real America's voice Nicholas Maduro is singing like a canary.

SPEAKER_12 17:35

You know, Maduro is we got him. And it was Venezuela that was exporting the election results to 72 countries, of which the United States is only one of them. But Maduro was at the least at the head of this. And so he knows and understands the facts behind it, but he doesn't know enough, so we he we now we got the bookkeeper. Okay, he was extradited from Venezuela, and four more people are underway that are gonna be here soon to be able to give their testimony. So when this all hits the fan, we're gonna see exactly what we're talking about and what we've been screaming about, about how we we have an election emergency and and uh and and and hallelujah. Okay, because believe me, Maduro's gonna be singing like a like a canary because you know singing like a canary.

SPEAKER_19 18:24

Oh, leave it to the biggest thugs on the planet to turn around and become the biggest snitches, you know what I'm saying? So he's singing like a canary, and they've extradited his bookkeeper, and Dulcie Rodriguez has given up other people too to send here, presumably to stand trial or charges or exchange testimony for some type of deal or immunity or something like that. But either way, see, here's the thing that Peter Tickton explained, and I agree with this completely. Up until now, the mainstream media hasn't reported on any of this election fraud to any significant degree. It's been a one-off story here or there, a two-minute hit one day, forget about it for a couple weeks. It's very little. It's people like us, the peasants, that are keeping this topic alive. Because every day in the grand scheme of things, the most precious, valuable thing I have is my vote. It is the most precious piece of currency that was given to me through an inheritance that was secured by blood, right? The right to vote, the right to have a say in the direction of this country. It is the greatest asset that you have available to you, your ability to cast a vote, to cast a vote over matters as serious as the creation of money, the matters as serious as levying war, matters as serious as law and order, and things like that. It is the most precious thing you have, and oftentimes it's the most neglected thing you have. When other countries like Venezuela, Cuba, Iran, maybe North Korea and China manipulate those votes, they are stealing from you the most precious asset and the most valuable thing that you have, the ability to change the direction of your country, the ability to have a say. When they take your voice away, they may as well have taken your bank account. They may as well have taken your job because through that stolen vote, they will accomplish all of that. They will take your bank account, they will take your jobs, they will take your house, they will take your sons and daughters and use them to wage war. You can go look at Thomas Paine, he wrote about this with Gideon, right? What happens when the king takes everything? He will take everything from you, right? Call it a gift, a tithe. Expert a tax. So Nicholas Maduro talking that way and singing like a canary, when it fully comes out and the evidence is fully out there, and you have things like Nicholas Maduro admitting that the voting machines have are were stealing elections. Watch how quickly our zeitgeist changes. And there will be a race by every state to get rid of the machines and propose a new solution, right? Nobody is going to tolerate voting machines when Nicholas Maduro, in a court filing from a proffer somewhere, says, Yeah, we were stealing your elections. Nobody's going to be screaming the accolades of Black Jesus, Barack Obama, when Nicholas Maduro writes down on a piece of paper that they helped Barack Obama steal the election in the Iowa caucuses in 2008. You think there's a bunch of Clinton, Hillary Clinton fans out there that aren't going to be upset by that? Right? You see how the Bernie bros have reacted to Bernie getting the election stolen. A lot of Bernie bros came over to MAGA because they didn't like that. So that is a huge deal there. When that information comes out, things like January 6th will look like necessities. I remember Scott Adams said, I don't want to live in a country where January 6th doesn't happen. And that's what the attitude's going to be. There's going to be a sea change in the perspective on January 6th, where instead of a bunch of terrorists and rabble rousers, we're going to look like heroes who saw the election. Election fraud before the rest of the world did. People are going to wonder why they were five or six years late to the party. And I'm going to say, dude, I don't know if you wanted to be here before for the party. It wasn't good. They should they shackled us. They took us to jail. It wasn't the easiest life to carry that standard, right? In fact, this is how much the hate is for January Sixers and those who have been legitimate victims of the weaponization of government. Gavin

Newsom Targets Weaponization Payouts

SPEAKER_19 22:27

Newsome was asked about this weaponization of government fund that's going to be used to compensate people who were targeted by the Biden administration. This would include Jade Sixers, but it's also a much bigger list as well. Well, Gavin Newsom in the biggest act of I don't know hubris, in the biggest act of vile retribution, said that anybody in the state of California who receives money from that weaponization fund, the state of California is going to tax them 100% on those amounts.

SPEAKER_01 23:03

Anyone from California that receives any of those funds, uh, we want to tax 100% of those proceeds. And that's an action the state of California can take. It's an action we look forward to taking.

SPEAKER_19 23:16

And it'll be interesting to see if he can keep up with that line when you realize that Gavin Newsom might not have won his last election. The vitriol these guys speak with. Why would anybody want someone in North Carolina that's never lived there to vote? What would it be like to be the attorneys for the DNC in that case? Uh, Judge, no, it's incredibly important that we can just put anybody in the world on our voter rolls. I mean, the connection to North Carolina can be minuscule. They can just have Googled it one time, and that is enough to establish residency. Does that make any sense to you at all? No. Like the stuff they have to argue is insane. How about this? How about that CIA agents are liars? They're trained to be liars. And why would anybody be surprised when they lie to us? How about that one? Can we agree on that?

SPEAKER_06 24:07

Yeah.

SPEAKER_19 24:07

Well, there was an interesting case yesterday. A

CIA Officer And Gold Bars

SPEAKER_19 24:10

CIA agent got arrested. This is gonna blow your mind. When we talk about the lawlessness of the deep state and the CIA and how they're just disconnected from the planet, this is wild.

SPEAKER_24 24:22

US, a former CIA senior officer is accused of secretly stashing 300 gold bars in his house that he brushed off as work-related expenses, according to court documents, and two people familiar with his employment history. Julia Ainsley is joining us now at this exclusive reporting. Sorry, Julia. What? I know.

SPEAKER_27 24:39

Hallie, when I first heard this tip, I didn't think it was real. And then the court documents spelled out that there was a man who was an employee of a government agency that was found with $40 million worth of gold bars in his home. If you're wondering how many gold bars that is, the court document says it's about 308. What my team here at NBC News, Dan Deleuze and Gary Crumbach and I found is that that man was not just an employee of any agency. He was a high-level official with top secret clearance in the CIA. And that he not only lied about what he was doing with his money, but that allegedly he also lied about his background, said that he graduated from a college he did not attend, that he went to a graduate school he did not attend, and that he had a pilot's license that the FAA said he did not have. So he was arrested last week and he is now in detention facing these charges of lying about his background and perhaps knowingly embezzling American taxpayers' money. I want to read you a statement we just got in from the CIA saying that after a CIA internal investigation identified potential violations of the law, CIA director John Ratcliffe referred the information to the FBI for a law enforcement investigation. The FBI is working closely with our partners at the CIA and the Department of Justice as we continue to investigate this matter fully. So, Hallie, we will be staying on this. But what this looks like is that this was someone who was given currency, he was even paid in cash and watches that he said needed to be used in order to pay for operations that he was in charge of. But rather than keeping it in his office, they found $40 million worth of this gold, as well as $2 million in cash and 35 luxury watches in his home.

SPEAKER_19 26:23

So hold on a second. Hold on a second. The CIA hired a guy who said he went to college that he didn't go to, had an airplane, a pilot's license that he didn't have, and then entrusted him with a beyond top secret clearance to the point that they were giving him cash, which he was using to buy bars of gold instead of to do whatever operate. Did anybody background check this guy? Like, are you telling me if you apply to the CIA, they are their virtue? It's just like what Stephen Miller said the other day. When you put on the application that you have kids, we don't even check. We don't even check if you have kids. If you put on your resume, your application to the CIA, this guy came into the business line. I'm I'm I'm sure at some point he filled out an application or got was vetted or turned in a resume. He went to a school. They didn't check. They didn't check. And then they gave this guy over $40 million in cash and they never vetted him. He had an airplane. Did he fly any airplanes? At any point, did he get into a government airplane and fly it by virtue of a fake pilot's license, Ron?

SPEAKER_18 27:39

In this guy's defense, you know, $40 million at the CIA, that's like petty cash.

SPEAKER_19 27:46

In gold bars. In gold bars. I've got up here the court paperwork. Okay, so it says in here, they executed a search warrant for Russia's home in Eastern District of Virginia during the search. FBI agents seized approximately 303 gold bars, each of which weighs approximately one kilogram. Based on the current price of gold, the estimated value exceeds 40 million dollars.

SPEAKER_18 28:12

The other lady reported it was 308 bars. What happened to the five bars?

SPEAKER_19 28:17

Yeah, what happened to the five bars? Ratcliffe got his fingers on them. That's probably what happened. FBI agents also seized approximately two million dollars in U.S. curtsy. Notice how it's approximately skimmed off the top. Finally, FBI Station seized 35 luxury watches, many of which were Rolex brand.

SPEAKER_18 28:35

Oh, brother.

SPEAKER_19 28:36

At the CIA. At the C I no freaking surprise. Who's shocked? Oh my goodness. Oh my goodness. And that's just one of them, Ron. That's just one of them. Like, how many other operations are going out there?

SPEAKER_18 28:53

Well, they all have to make deals, Taylor. They all have to make deals.

SPEAKER_19 28:58

That is that is. I hope they make a movie about that. I hope they make a movie about this guy. I hope that every operation he was ever involved in, he comes back to his sit rep report and he's like, I don't know. My confidential informant didn't show up for the drop. You know, my confidential informant took the money and then got killed. Where'd the money go? Ah, I don't know. He got robbed, ended up back at my house. Holy smokes. Where was he buying the gold? Somebody sold him 303 bars of gold, man.

SPEAKER_18 29:32

This reminds me of a scene from a movie called Carlito's Way.

SPEAKER_19 29:39

What happened in that movie? I don't know.

SPEAKER_18 29:41

Somebody who was killing people to steal the drug money.

SPEAKER_19 29:44

Yeah. I was in prison with a police chief in Baltimore that was basically running his own mafia, and they were kicked, they were robbing drug dealers, taking their money, arresting the drug dealer. They had this whole thing going on.

SPEAKER_18 29:57

That's the story.

SPEAKER_19 29:58

Yeah. That's just one of those like guys, truth is stranger than fiction, man. These guys operate off books. The CIA didn't know this guy didn't go to college. They didn't know this guy didn't have a pilot's license. I'm dying to know if he ever flew a plane. I'm dying to know if they were like, hey man, take the Gulf Stream down for your uh your money drop. Here, here's the keys. You know what I mean? Head on out. And if he's like, okay, I'll go do it. Like, how much of a catch me if you can con artist is this guy? Or, or Ron, is he a Cuban intelligence asset? Oh. That had a fake background, right? That had a fake identity, got a job at the CIA, moved up the ranks, talked about.

SPEAKER_18 30:41

Why don't we just make him Russian? You know.

SPEAKER_19 30:45

Turns out he was like born in Iowa. All right. In another case, Trump going after his enemies, like he's going after mail and ballots.

E Jean Carroll Funding Questions

SPEAKER_19 30:54

He does have an enemies list. And guess what? Eugene Carroll, she's in the hot seat.

SPEAKER_03 30:58

Now, the Justice Department, CNN is learning, has launched a new criminal investigation into one of Trump's enemies, Eugene Carroll. Now, Eegene Carroll was the former magazine columnist who accused President Donald Trump of sexual assault. Uh, ended up thinking that he was liable for sexual abuse. The source is telling CNN that the investigation now is focused on whether Carroll could be a good idea.

SPEAKER_19 31:20

Which by the way, that is such a joke of a thing. When I was in prison, guys would be like, Well, isn't Trump guilty of rape? And I was like, No, he's not guilty of rape. He's liable for sexual assault. Now, Ron, I want you to understand right now, you're liable for sexual assault as well. Oh, no. As you're sitting here right here today.

SPEAKER_18 31:35

Oh no.

SPEAKER_19 31:35

Okay. So everybody is liable of everything all the time, right? Which means I could sue you. I could bring a cause saying you assaulted me and you're now liable for the assault. Doesn't mean you're guilty of it. It just means the question is out there. Okay. So in the preliminary for this lawsuit, Trump basically was like, I didn't do it. And there's no adjudication. He wasn't criminally charged. The charge wasn't over that he did or didn't sexually assault Eugene Carroll. The charge was over she had accused him. And in his rebuff of the accusal, he slandered her. And she, because no charges were brought or adjudicated, we're well beyond the statute of limitations. She has the right to say he did it. He has the right to say he didn't. But the ruling was that he is liable, which allowed the lank the slander lawsuit to go forward.

SPEAKER_06 32:26

Okay.

SPEAKER_19 32:26

But we're all liable of everything all the time. Right? If it's unadjudicated, then you're liable until there's a decision made, you're liable to stand charges. Okay. Okay. So that's what that was. It's again, it's this word play that if you don't understand it, dude, everybody's liable of everything all the time. Right? There's nothing special about that. It just means that hasn't been adjudicated. Because it's not adjudicated, it's his word versus her word. And if he's lying, he's guilty of slander. Think about why they call it liability insurance. You're liable for everything all the time.

SPEAKER_03 33:02

Paula Reed is breaking the story and she's out front. And Paula, what else are you learning about this? I mean, there was obviously a verdict here.

SPEAKER_33 33:10

That's right. And here, Aaron, this is the latest move by the Justice Department to take action against one of President Trump's long-standing foes. Our sources tell us this investigation is focused on a 2022 deposition that Carol gave, where she said that she had not received any outside funding. Now, her later, her lawyers later told the judge that she had, in fact, received funding for legal fees and expenses from billionaire Reed Hoffman. The judge overseeing this case ultimately said there were no issues with her credibility and blocked Trump lawyers from asking about this at trial. Now, Carol currently has multiple uh legal battles with Trump currently pending, including one before the Supreme Court. And notably, Aaron, the Supreme Court has deferred 12 times on a decision whether they want to take up that case. Now, over at the Justice Department, Acting Attorney General Todd Blanche, I am told, has recused from this case because he worked on one of the appeals uh related to the Carroll case. Now, I'm told he has not attended any meetings or been in any discussions about this investigation. The case is currently being handled out of the U.S. Attorney's Office in Chicago. Now, tonight, the Justice Department issued a statement saying, quote, we can confirm that no U.S. attorney's office has declined to investigate any case relating to the subject matter of CNN's inquiry. We will not comment beyond that.

SPEAKER_19 34:37

Interesting. So who is Reed Hoffman who funded this? Reed Hoffman also funded funded Christine Blasey Ford, the accuser of Brett Kavanaugh. Both of these were kind of show allegations, well beyond statute of limitations. Neither one could remember the exact date. The you know, both of them kind of have this just bring out somebody from the past and smear whoever Kavanaugh and Trump. Same game. Who's Reed Hoffman? He's the owner and founder of LinkedIn. Who's Reed Hoffman? He's all over the Epstein papers on the island. He he was genuinely buddy buddies with Jeffrey Epstein in a nefarious way. Not in a not in a, hey, we're just doing a bunch of philanthropy kind of way in a very nefarious way. He was regularly, hey, when can we go on vacation? Getting dating advice from Epstein, et cetera, et cetera, et cetera. That's who Reed Hoffman is. So as we work up this list of people who've wronged Trump, what do we find? We start to find all kinds of these shady, horrible connections. Here's the other thing, too. Remember, the same cabal of people were marching to get Trump in any way they could. Smear him, civil lawsuits, old allegations, business allegations, bookkeeping errors up to the Mar-Lago

Mar A Lago Raid Probable Cause Doubts

SPEAKER_19 35:51

raid. Now, the Mar-Lago raid has had another step in the process here. John Solomon reports that there's even more information now, a second document showing that the FBI and members of the DOJ did not think they had probable cause to get the search warrant on Mar-Lago, but it gets signed off on it got signed off on and executed anyways.

SPEAKER_23 36:12

Meanwhile, bottom reaction to the story that we broke in the last 24 hours, President Trump himself reacted to it, uh socialized the story. But we now have a second piece of evidence that the Justice Department under Joe Biden knew that its raid on Mar-a Lago was bad. Remember, bad, excuse me. A couple months ago, we told you that the FBI had memos saying that they did not believe they had probable cause to raid Mar-a-Lago, but they did it anyways. They went into the president's home looking for allegedly classified documents. Well, a couple days after that raid, one of uh Merrick Garland's top advisors, someone he personally brought in to make sure that they stayed ethical in their investigations of President Trump, wrote an email saying, I don't believe we have the right to go raid Mar-a-Lago. In fact, I've been worrying about it ever since I found out about it. Why? As she noted, and as we reported at the time back in 2022, she believed President Trump may have declassified the documents before he left office and therefore had every right to possess those documents at Mar-Lago. That is a smoking gun. Those two documents together could potentially create an overt act in a conspiracy case alleging that President Trump's civil liberties were violated. Uh, that is exactly what Joe de Genova and uh the team in Miami and uh Fort Pierce are looking at. Today, that team was in Washington meeting briefly with the Attorney General Todd Blanche. Uh, we'll have a lot more on that as the next few days unfold.

SPEAKER_19 37:37

That's great. Accountability, wheels of justice grind slowly, but they churn finally. Eventually, it all comes out. Speaking

Grand Jury Secrecy And Chicago Reforms

SPEAKER_19 37:46

of it all coming out, Chicago has had a problem for a while. Chicago had the entire DOJ has a problem with this. It's called the grand juries. The grand juries used to be something that the people did. If I saw something in my neighborhood, I could gather up a group of 16 men, 16 people or so, and I could say, here's the evidence I saw. We could create an indictment, a people's indictment, take it to the local sheriff, and then he would have to take action on that indictment. That's how grand juries kind of were originally designed, right? And then eventually you could what happened is we gave that power to the prosecutors. There's a whole series of court events and and rules of criminal and civil procedure, et cetera, et cetera. And policy-wise, the prosecutor's office took over the power to impanel a grand jury, sit the grand jury, present evidence to the grand jury, and it's all done in darkness. Nothing is done like the people cannot instigate a grand jury. The people can write a complaint, and then the prosecutor can take up the complaint and impanel a grand jury, but the people don't have the ability to impanel grand juries anymore. And what that's led to, as Robert Kennedy Jr. says, any power given to government they will eventually abuse to the maximum extent possible. So Julie Kelly is reporting on this here. And what this is, this is a memo coming out of the Chicago attorney, um, Chicago United States Attorney's Office. And I won't read the letter, but I'll just read her synopsis here. It appears the U.S. attorney in the Northern District of Illinois has uncovered systemic problems in the office's past handling of prosecutions, particularly related to grand jury proceedings. This comes as the collapse of the so-called Broadway 6 case this month. A federal judge determined long time DOJ employee Cheryl Mecklenburg had engaged in misconduct before the grand jury, which handed down an indictment in October 2025. Mecklenburg left the office in February 2026 and detailed to the Dem side of the Senate Judiciary Committee. She has been fired now. But while the local media is desperate to portray this as an example of DOJ incompetence and corruption, U.S. attorney Andrew Boutros, appointed by Trump, today announced major reforms in an ongoing review of cases handled by Mecklenburg and other U.S. assistant U.S. attorneys involved in the Broadway 6 matter. This move is yet another way the DOJ officials are attempting to clean house. They also make the U.S. Attorney's Office among, if not the leading district in the country on grand jury disclosures. These remediations should also be deeply curative and put at rest once and for all the divergent practices that have existed across the office for decades. AKA, they do whatever they want in the grand jury meetings. They don't follow any kind of protocols. They have it totally under their control, everything's sealed, and then they selectively leak some of that sealed information to create the media buzz and the media narrative that they need to create to create the plausible believability that their prosecutions are valid, even though they violated people's civil rights to get there.

Rumble Wallet And Owning Your Keys

SPEAKER_18 40:44

What do you got for us, Ron? Rumble wallet? Let's do it. Let us do it. Okay. We hear a lot about crypto, but here's the part most people miss. Crypto was created so you could actually own and control your own money. After the 2008 financial crisis, Bitcoin was designed as an alternative to banks. So instead of banks holding your money, delaying transfers, or limiting access, you're in control. And if you've ever had to wait for a transfer to clear, you felt that problem. Now, fast forward to today. Everyone's heard of crypto, but getting started feels still feels complicated. And that's why I use Rumble Wallet. It takes all the complexity and makes it simple. Choose what you want Bitcoin, dollar back stable coins, or even digital gold backed by real gold. No complicated setup. It connects you with Moon Pay, so you can use your credit card, debit card, and bank, or be up and running in minutes. Once you're set up, you can even support your favorite Rumble creators like me directly. So you can do this now. Scan the QR code or click the link in the description and download the Rumble wallet. From there, you can set up your wallet, tap by, and you're in the game. Just a few minutes, you can go from hearing about crypto to actually owning some.

SPEAKER_19 41:49

Yeah, that's fun. Very fun. Love the hot wallets, and Rumble Wallet is a little bit unique in the fact that you get to keep your keys. So that's a good thing. Okay,

Biden Debate Fallout And Tape Fight

SPEAKER_19 42:00

Joe Biden was on with Sunday morning, and she gave a really interesting interview. Did you know that she thought Joe Biden had a stroke? Yeah, she thought he had a stroke on stage in the debate.

SPEAKER_20 42:12

Were you horrified as you saw it unfold? I wasn't horrified, I was frightened. Because I had never ever seen Joe like that.

SPEAKER_02 42:24

The uh with with the COVID, excuse me, with um dealing with everything we have to do with uh we finally beat Medicare. Thank you, President.

SPEAKER_20 42:40

Before or since never since. Yes. Or never since never. What even happened? I don't know what happened. I mean, when I as I watched it, I thought, oh my god, he's having a stroke. And it scared me to death.

SPEAKER_21 42:58

John, you answered every question. You know what? What did Trump do?

SPEAKER_19 43:13

So she's watching Joe Biden on stage, and allegedly, for the first time ever, she saw him like that. She was frightened. She thought he was having a stroke. But she got out post-debate. You answered every question, Joe. And then even after thinking he'd had a stroke, she supported vehemently him continuing to run. Oh yeah. Oh yeah. As if, as if he'd never done that before. He'd done that so many times. The debate was just the nail in the coffin. Right? The debate was the everybody in America was like, Yeah, our guy Joe Biden, he's he's only done six press conferences in four years, but oh man, he's sharp as a tack. Remember, Jim Scarborough? This is the best version of Biden yet. And then all of a sudden we get what? Garbage. Garbage out of Joe Biden. First time he had a stroke. I'm actually surprised to. His with his stage four advanced prostate cancer that he's doing so well. I feel like you know, we had a little uh April Fool's joke where it popped up on my feed at the end of the show that Joe Biden had died, and we were like, woo! And then the next day it's like Joe Biden didn't die. Oops. But, anyways, I'm surprised he's doing so well. Now, there are these tapes, these special investigator tapes where he interviewed with attorney Ben Hur, right? And couldn't remember when his son died, couldn't remember when he was in office, when he wasn't in office. Well, there's a lawsuit to make those tapes public because we've gotten some clips and blips and blurbs, but we want the whole thing. Uh-uh. And uh Donald Trump was like, Yeah, let's let's hear him. I'd like to see how incompetent this guy was.

SPEAKER_30 44:44

Uh, what are your thoughts? Why do you think that Joe Biden is trying to sue the Department of Justice, former President Joe Biden, to have his tapes that that he did interviews on blocked from the American people hearing them? Do you think that he's trying to hide something? And maybe uh acting attorney general Todd Blanch could comment on if they will countersue and release those tapes to the American public.

SPEAKER_07 45:02

Are you talking about it with respect to his book? I don't know. Maybe there's some constitutional reason. I don't know. I'd like to, I would like to see what he has to say because we could never allow what happened to this country to happen. The man was grossly incompetent. And the Democrats, uh, I call them the Democrats because the policy is so bad, but they they came very close to destroying our country. We can never let it happen again. And I hope that you're able to produce that. I think it would be very interesting reading.

SPEAKER_19 45:43

I don't think so. I don't think so. Oh man.

Third Country Deportation Agreements

SPEAKER_19 45:46

The other thing, in that same press conference, Marco Rubio addressed the situation with deportations. They've got so many levers now to get people to self-deport. If you want to get a green card, you have to leave the country. You can't bank, right? They're they're put doing that initiative where you have to revalidate your know-your-client uh credentials at all your banks. They've been cutting off Venmo and Zelly for illegal immigrants. You can't send money overseas without a huge chunk of it being taken. So, you know, there's a lot of money coming from remittances. Those have dropped. They've they've changed all the incentives around being here illegally. If you're illegal on social services, if you're still getting them, lucky you, because eventually they're gonna get cut off as they continue to work through these different states. So all of that is happen is happening. And one of the other things, too, is the United States has secured agreements with up to 20 countries to take anybody that we deport. Anyone. So if you're from Honduras and don't want to go back to Honduras, that's okay. Cameroon will take you. Okay. And so they're using that as a lever.

SPEAKER_28 46:47

We touched upon the border and security. Part of securing our borders is dealing with the people that are in this country unlawfully, many of whom do not want to go back to the country that they originally came from for a variety of reasons. Either we can't send them there or some judge ties us up. And one of the key things we have achieved is now 20 countries have signed third country national agreements, meaning these are safe countries where individuals who refuse to go back to their country of origin can be sent to that country instead. We've gotten 20 countries now around the world who have signed agreements that allow us to deport people to those places. What often happens when you go to the person who's here unlawfully and say, we're going to send you to this third country, is all of a sudden they decide they'd rather go back to their home country instead. So it gives uh the ability to enforce our laws, and we work very closely with the Department of Homeland Security on that front.

SPEAKER_19 47:34

What it does is it exposes the people who are like, I can't go back to El Salvador, I'll be persecuted. Okay, well, you can go to Cameroon.

SPEAKER_18 47:40

Yeah, no, no. Hold on, hold on. This is how they do it. They go, they spin the wheel, let's see where you're going.

SPEAKER_19 47:49

And they're like, I want to go back to my country. I want to go back to my country.

Nvidia Adviser And China Conflict Claims

SPEAKER_19 47:53

Laura Luma broke another report yesterday, and this is one of those ones where it's like, okay, now we sit back and watch. But she reported that uh Jason Huang, the CEO of Nvidia, she says he cannot be allowed to have access to the White House as a member of the president's council of advisory on science and technology, PCAST, while also sitting on a CCC, CCP university. So she uncovered information that Tisingwa establishes Institute for Xi Jinping Thought on Socialism with Chinese characters for a new era. This is Tishinga University. And apparently, Jason Wong sits on the board of that university. So he's also sitting on uh a prestigious uh Nvidia chief Jensen Huang to join board at prestigious Beijing University. So there's there's a conflict there, it's a kind of a big deal. Apparently, a senior Department of War official replied to Laura Lumina immediately and told them they're looking into this. This is a massive a scandal. This is a massive scandal, and they agreed with me. That for those of you that file follow the chipmaking, the courts, I had no idea that was a thing.

SPEAKER_18 48:55

That changes my opinion a lot.

SPEAKER_19 48:57

That's a big deal. That's a big deal. That's that's not going to be a small thing. And

Social Services Fraud And Crackdowns

SPEAKER_19 49:02

the US government is continuing to look into social services fraud. Todd Blanche in the cabinet meeting yesterday announced they have taken over 400 actions in regards to this just in the last couple weeks.

SPEAKER_04 49:16

What we've done just in the past 51 days, over 400 law enforcement actions in this country related to major fraud. That's search warrants, that's arrests, that's convictions, that's um, that's indictments that are filed, and that's just 51 days. And and it's not it's not just the great prosecutors, it's it's the FBI agents, it's DHS and HSI agents, it's everybody in this room that has inspector generals that are now they they have been freed up. And it's because of you, it's because of the vice president saying this is going to be a priority of what we are going to do, not just the Department of Justice, even though we're the prosecutors that are putting bad guys in jail, it's also the law enforcement um at every agency, FBI and DHS. And so we're already seeing results. We had a one billion dollar fraud, a conviction at trial last week out of Florida. And this was an organization that was stealing from senior citizens in Florida, duping them. There were call centers set up in the Philippines, and they were duping them to buy medical equipment that they didn't need, that they would never get, and that the taxpayers paid for. And so, so that's a that's a good win. We arrested 15, um, 15 guys in Minnesota last week. The vice president mentioned one of them. These are people that are not, they're just stealing, and many of them are here illegally. And so you have people who are in this country illegally, who are then taking advantage, and the vice president says something a lot that resonates with me: the generosity of the American people, the generosity of everybody in this room, the leadership, to take care of the people in this country that are the most that deserve it the most, children who are supposed to get get food at school, and you have men just stealing, taking that money. And so that's what we're focused on. We are standing up. Um, as as as you know, Mr. President, you you allowed us to stand up a new division at the Department of Justice. It's our entire existence in that division, is to combat what we're talking about.

SPEAKER_19 51:07

What is with the social services, and this is one of the things that Republicans, this is why we acquiesce to all these payments so much, is we don't want to see a brother or sister in need. We don't want to have people that we love have situations where they're single moms with no assistance. We don't want to have situations where when people get unexpectedly laid off because of economic conditions, we don't want people left behind and without. We don't want people left behind, exactly. And so we we are incentivized to help these people, and we're totally fine with the government being the one that helps them. Now, in a vacuum, we don't like that because government always abuses these powers. And what have we seen? They've abused these powers. They don't even check if the applicants for social services have kids or not that are deserving of this aid. When you have situations like in Florida where one single scam artist, an organization can fleece a billion dollars from the system, how many meals is that for underprivileged kids? How many elementary schools could that build? How many qualified teachers could that hire to split our class sizes into smaller class sizes? Right. It's an enormous amount of money. An enormous amount of money. It's but without checks on where that money goes, the inclination of the conservative is just to cut it all off. Cut it all off. Right. But if we can recapture that money and direct it to where it's really needed, we could see a significant prosperity boom and relief to those who are actually in need. You and I both know, Ron, people who have been in need that couldn't get access to these services.

SPEAKER_29 52:45

Oh yeah.

SPEAKER_19 52:46

And it's simply because you're not at the front of the line. You're the wrong skin color, you're the wrong sex, you come from the wrong socioeconomic background, you're you have no criminal record, so we definitely can't give you any services. You can get a job, right? All of that goes away, and we can actually help people who qualify when you can clean this stuff up. Lee Zelden also mentioned in the same hearing they've recovered 20 million plus billion plus, an immense amount of money. They clawed back the $2 billion that was given to Stacey Abrams. They canceled those grants, right? I mean, huge amounts of money.

Oil And Gas Leases Surge

SPEAKER_19 53:20

The other thing that we saw in this cabinet hearing, and again, these are all revenue streams, cut off excess spending and generate excess revenues. Doug Bergram, Secretary of the Interior, announced that we have now brought in more money for oil and gas leases on federal land than at any point in America's history.

SPEAKER_09 53:37

Under your leadership, uh, we've opened up uh lease sales on public land. This is land that was put away for the benefit of the use of the American people, like the strategic petroleum reserve in Alaska. Uh, the Biden administration had illegally stopped holding lease sales during their administration. Uh, President Trump uh famously said, drill may be drilled, but before you can drill it, you've got to open public lands. Uh we between the lease sales that have happened uh in the the Permian, uh in the Baket and on the North Slope, uh just in just since January of this year, it's over four billion dollars of revenues come into the Treasury. That's 13 times more than the Biden administration brought in on lease sales in the entire four years that you're in office. Uh, sir, your policies brought that in in five months. So, with that, a lot of excitement, a lot of activity. We also inherited uh just in one district in Carlsbad, and there's still 5,600 unprocessed applications to drill for oil and gas on public land. And when you're drilling on public land, those companies pay a royalty, and that money comes to all of our citizens and it goes to local school districts and it goes to states. It is the core of the economy in parts of our country. The team down there working for the Department of Interior Bureau of Land Management has dropped that by 91%. Uh, it's one of the reasons why they had a record lease sale, is because now people go, I can bid on federal land and I'm gonna get a permit to drill, and it's not gonna take me five years to get it. I'm gonna get it in a month or less. Uh, and so uh it's just it's exciting to see uh your vision. And of course, with this energy dominance, us as you just noted, uh largest oil producer in the world, largest natural gas producer in the world, largest natural gas exporter. Uh this is an opportunity for us to bring prosperity and affordability here at home, but also with the priest abroad. So uh, President Trump, your energy dominance uh strategy with Chris Wright, Misel, and all the people that are working on this, people around the room. Uh you know, it's it's been really incredible. And of course, I mentioned Venezuela, but all that flowing there on Gulf Coast refineries is also helping to keep the price of gas down at home. Uh yeah, it's a it's an amazing transformation. Bottom line is the center of geopolitics around energy has moved from other parts of the world to the Western Hemisphere in the last five months. You turned Venezuela from a sanctioned adversary into a into a strategic ally in 45 minutes. Never happened in history before. Uh, and what's going on in Alaska? Where when I was there last week in Alaska, the North Slope, 80,000 barrels a day coming online at PICA. That wouldn't have happened with you, but by Willow on the North Slope. That's going into the uh into the Alaska pipeline, 20% increase just off that one field. Uh so amazing work. Uh it's energy is a high-tech industry, and those guys are crushing it, and they're uh loving, loving the fact that they can provide affordable, reliable, secure energy for America.

SPEAKER_19 56:34

And that's the thing. The entire world order around energy has shifted from Middle East centric to United States Western Hemisphere centric. And like he says, 56 new permits in California, 5,600 new permits in California, when that oil comes online in the next year, even if the Strait of Hormoods were to stay closed, there's enough excess being created by our country to capture that entire marketplace. It'll drive oil prices down for us at the pump, but at the same time, it produces an immense amount of revenue for us here in the United States, right? For

Growing Out Of National Debt

SPEAKER_19 57:06

all the concern over the national debt. There are there are different ways to deal with the national debt. And one of the ways to deal with it is productivity. And you can think of this in your own personal family. If you're making $30,000 a year and you have $10,000 in credit card debt, that's a third of your annual budget, is just debt load, right? And then you're making payments on it and all that kind of stuff. That is a lot. Well, what happens if you can take your $30,000 year income, keep the debt at $10,000, and increase your income to $100,000? Oh. Well, all of a sudden it's just a 10% debt load, not as big a deal to carry, right? You can service the payments a lot better. So you can grow out of your debt. You can grow to the point to where you could pay off that debt like you would pay a charitable contribution to a church, a tithe of 10%. Oh, pay off your whole debt load, right? Totally doable. And so productivity and growth, we could grow out of this debt. But the way the market has worked up until now is as soon as the economy starts growing, the Fed sees inflation. So they'll raise rates. That slows down the growth. So it keeps you from getting your raise. As soon as you're going from 30 to 35, the Fed's like, well, too much. Make it harder to get capital to grow. Does that make sense? Yeah. And then when we're then when we're in a recession, then they want to stimulate growth and they want the money to be free. And then they, of course, they have a tendency to overspend because it takes a long time for that money to really generate growth. The harder thing to do is not to print money. The harder thing to do is to grow, is to increase productivity. Now, we have a new Fed chairman, Kevin Walsh, and he understands this. He talked about this directly. He said, I think we can grow. We can grow out of our national debt. We could have a productivity boom. So he has signaled that in distinction from how the Fed has previously worked using old charts and assumptions, we're going to lower rates or at least make money easy. And because it's going into productivity, we're going to grow. We're going to try to grow out of this thing, grow out of the debt. Jeff

AI Productivity And Job Fears

SPEAKER_19 59:16

Bezos, when he was interviewed by CNBC last week, he mentioned this and how AI, and I've I've said this as well, and I don't know that we're necessarily wrong, but the AI is going to take everybody's jobs. And Jeff Bezos kind of looks at this and he goes, it's not going to take everybody's jobs. It's going to increase productivity, which could change everything about our society. Listen to this.

SPEAKER_10 59:39

I think there's so many people who are afraid that AI is going to take their job. I think that there's going to be a labor shortage as a result. So let's oh, let's go there then.

SPEAKER_11 59:50

I wanted to stay in space, but let's go to that because we can come back, we can be in space too, or whatever you want. But that's no, but that's fascinating because I don't know if you saw Eric Schmidt gave a commencement address over the weekend. Yeah. And the students were booing because they went every time he mentioned AI, they were booing because I think they're deeply fearful and worried about whether they're going to have a job.

SPEAKER_10 1:00:12

Yeah. Well, and the reason they're afraid of that is because all these smart people keep saying that. So there are so many smart people, and they are smart. And they are saying, oh my God, you know, they're going to be no more radiologists because you know, uh, AI can read x-rays better than a radiologist can, and they're going to be no more software engineers because AI can program better than a software engineer can. These people are wrong. So what's really going to happen is that it's going to elevate all of these people. And there's going to, it's like, it's, it's like you've been digging, let's say you're a software engineer, right? What it's the analogy I can give you is you've been uh uh digging out a basement for your house with a shovel and somebody's about to hand you a bulldozer. You're you're so you should be so happy if you're digging the basement to your house and somebody says, Hey, how about this? I have a tool here that's gonna and there what's really gonna happen is we're gonna have so much productivity in our economy that uh, for example, this is this was one effect. A lot of people who have uh two earner income households, right? One of the people is gonna drop out of the workforce. That's why we're gonna have a labor shortage. People, because of the uh productivity gains, you're gonna be able to afford things. We're gonna have, I predict we'll actually have deflation of certain core uh assuming we let this technology play out and don't you know hamstring it with regulation too early? Um, we will actually have you know, everything will get you know, food will get cheaper and housing construction will get cheaper and so on and so on.

SPEAKER_11 1:01:52

Is there a transition cost we dairy out there?

SPEAKER_10 1:01:54

We can even solve the permitting problem I was talking about earlier for housing. Like it should take when you if you are a builder, why does it take you six months, nine months, two years, five years, depending on what municipality you live in, to get a building permit? AI should be able to do it. AI should do that in 10 seconds, and it's not and it should give you a yes or no in 10 seconds, and then you should have your authority to build it. By the way, if it says no, it should give you the six reasons why, and then you go change those things and resubmit. But you start building tomorrow instead of two years from now.

SPEAKER_11 1:02:29

But how do you answer? I mean, Amazon's laid a whole bunch of people off. You heard uh Mark Zuckerberg. Not because of AI, Mark Zuckerberg recently laid a bunch of people off that because of AI. Jack Dorsey has Jack Dorsey ascribes it directly to AI.

SPEAKER_10 1:02:42

Well, you'd have to talk to Jack about that. I don't know, but he must have had a lot of extra people.

SPEAKER_19 1:02:48

A productivity boom, the ability to grow out of it, and if you can grow out of it, maybe some people come home, start raising their kids again, right? It's a good uh it's a good optimistic outlook. Now, if we could just make Jason make sure Jason Wong, who is at the front of this AI tech boom, right, is uh not a CCCP CCP spy of some sort, then we'll be pretty good. Michael

Bitcoin, Inflation, And Cantillon Effect

SPEAKER_19 1:03:11

Saylor, who runs one of the largest ETFs for Bitcoin, was talking about the macroeconomics because Bitcoin and AI kind of go hand in hand. AI kind of decreases the cost to make things, right? It's a cost of productivity. But Bitcoin stores the energy. If AI decreases the cost of making anything and we still have a fiat system where money is just printed for free, the cantillion effect is going to be horrible. It's gonna create huge whiplash.

SPEAKER_18 1:03:43

What's that what's that?

SPEAKER_19 1:03:44

It's the idea that the first people that get new money before it sinks into the market and affects prices benefit the most. Okay. Because if the there's a hundred billion dollars and I get the first $101 billion, that first billion dollars I get, the first time I spend it, it's going to spend like it had the scarcity of the hundred billion. But then by the time it's been spent multiple times as it goes through the economy, it def it it inflates the value of everything. When I was in college, we did a class study. They were building a new Applebee's. Our university town had two exits, right? One exit dumped you off on Main Street, one exit kind of took you in. There was a gas station and kind of nothing, right? So nobody ever took that exit. Well, an Applebee's came in on that exit. So now not only did you have a gas station, you had a sit-down restaurant, Applebee's. And on the other exit, you had to get pretty deep into town and it was a main street, and the restaurants weren't kind of that dine in fast type model. They were like, you know, struggle to find parking on Main Street, walk five minutes to the restaurant. None of these are franchise restaurants, so you've never heard of them, that kind of thing. So this Applebee's came in off the highway. Now, this highway was directly to Yellowstone. So anybody coming up, uh I-15 coming up through Utah, coming up through this, they made it onto this highway heading to Yellowstone. Like West Yellowstone was 45 minutes, an hour away, and that's where the big draw was. Well, when they put that Applebee's in, we track the dollar. Okay. So somebody comes in off the highway that didn't even stop in town. All they did was pull over to get gas, get a nice nice bite to eat, head on to West Yellowstone. So they're in the city for just a moment to eat out of the city. So we track the dollar. Dollar goes to Applebee's, dollar goes to the waiter, waiter goes to Walmart, goes the dollar goes to the cashier at Walmart, goes to the bookstore at the university, gets paid to the bookstore worker, goes back to Applebee's, gets spent again on Friday date night, goes to the waiter, who then goes to the Brohlums grocery store. Anyways, we track the dollar. Yeah, Bro Lum's. It it stopped. It it was spent twenty-eight times in the city before it got back on the highway and left. Right. Before somebody got his change and headed out on the highway. So $28. So the Cantilian effect, assuming that was a tight little economy there, every time someone comes off the road, Applebee's benefits the most, whoever gets that first dollar. Because by the time it makes it around, it inflates everything. So that's what they're talking about there. Bitcoin stops that in its tracks.

SPEAKER_06 1:06:17

Okay.

SPEAKER_19 1:06:17

Because it's a scarce commodity. You couldn't create more if you wanted to. You couldn't add more to the Bitcoin economy.

SPEAKER_18 1:06:23

That's a very detailed explanation. I wasn't expecting that, but that was a great example of.

SPEAKER_19 1:06:28

Well, that it's the quantilian effect. Who gets it first? In our housing world, boomers benefited from the quintillion effect. Housing hadn't raised prices in a hundred years.

SPEAKER_06 1:06:38

Yeah.

SPEAKER_19 1:06:39

Right? It'd been pretty static pricing. And then all of a sudden we come off the gold standard, and someone who's making 30 grand a year buys his first house for 10 grand, you know, and they're like, oh, that's so much. Well, fast forward, that same person's making 60, 70 grand, but their house is worth $500,000. Right. Right. Well, okay, your wage didn't, you didn't buy a bigger house, but what happened was your house was the first stop of that free money. And so it, you know, the first, first, first mover's effect. So Michael Saylor explains how the price of Bitcoin is tied to major geopolitical considerations.

What Could Move Bitcoin Next

SPEAKER_00 1:07:14

I think a lot of my guests that I've been speaking to have been wondering why Bitcoin hasn't been gaining the same momentum as, say, stocks, for instance, which have continued to hit these record highs. And I'm just wondering what the fundamental catalyst would be to break through that heavy resistance we're finding just north of 80K right now.

SPEAKER_29 1:07:31

Yeah, well, uh stocks are beneficiaries of the AI trade. There's a lot of capital flowing in into the equity markets because of enthusiasm around AI and tech. Um, that capital has been drawn out of the crypto market to a certain extent because many Bitcoin miners have been rotating into AI high performance compute, and they've been uh they've been selling Bitcoin or they've been refinancing their Bitcoin to do that. So that's the headwind. Uh, really, the drivers for Bitcoin right now will be macro as we start to see a loosening monetary policy. That'll be very good for Bitcoin. Uh a cessation of or uh uh or um a lessening of tensions with the trade war trade wars and with the hot wars in the Gulf. Both of those are good. Uh Bitcoin's driven by geopolitics, uh, for example, uh crypto billionaires out of China, out of the Middle East, out of Asia, out of Africa. And so when they feel pressure, sometimes they're selling has nothing to do with the US equity capital markets.

unknown 1:08:38

Yeah.

SPEAKER_19 1:08:38

Imagine if you're in China or Africa and your oil supply has been cut down and you're a crypto billionaire. Guess what you're gonna be selling to buy oil, crypto, Bitcoin, right? It's pretty interesting. All right, guys, that's it for our public

Switch To Washington State Focus

SPEAKER_19 1:08:51

show today. We're gonna jump over to private and we're gonna be focusing on Washington State. Oh, got some nonsense going on. Got some nonsense going on. All right, we'll talk to you guys again tomorrow, and the rest of you will see you in just a moment. Okay,

Washington Income Tax Initiative Fight

SPEAKER_19 1:09:05

so Bob Ferguson. Bob Ferguson.

SPEAKER_18 1:09:07

My favorite.

SPEAKER_19 1:09:08

Yeah, Bob Ferguson, he put up a little post yesterday. There's been an initiative going around that uh about the Washington State income tax. Uh and he Bob Ferguson says, it looks like voters will get a say on whether to maintain the tax on income over 1 million that was passed earlier this year. I look forward to the public having their say on this important policy. To be clear, this reform of our regressive tax code included expansion of tax credits for working families, relief for small business and investments in K through 12, and affordable childcare. One more thing voters should know is so long as I'm governor, I will veto any attempt to lower the threshold or raise the rate of this tax. We are asking those who make the most to pay a little more and provide relief to workers at small businesses. Let's keep it that way. Now, Jim Walsh, head of the Washington state GOP, says this current governor is panicking. He has tried to use some strategy to prop up his troubled state income tax scheme. He's raising expectations about its repeal to position himself as the underdog in defending the crooked scheme. This isn't going to work. His state income tax scheme was designed to be a tax on everyone in Washington, and everyone in Washington knows this. Fail. So here is a uh little news report from uh 570 KVI. Oh, this is something totally different here. Uh-oh. Did I uh not grab the video? I didn't grab the video.

SPEAKER_04 1:10:25

Oh no.

SPEAKER_19 1:10:25

Oh well, well, point is he's basically bracing himself for uh uh the voters to repeal this. There's an initiative, and in the first week they already had 92,000 signatures, so they're well on their way to get the signatures. So he's positioning himself, like Jim Walsh says, as the underdog fighting to keep the tax and the relief for the poor people. And the reality is I think Washington state's onto it. So I have a little bit of hope that they'll repeal that thing. And in some other kind of not so good news, and this is something that surprised me. Washington

Washington Car Theft Numbers Shock

SPEAKER_19 1:10:54

ranks number two in America for car theft as years of soft on crime policies increased. So one of the reasons for this is because Seattle has a lot of on-street parking. Right. And so that increases the amount of cars that are stolen. But it is a big amount. 68,312 cars vehicles were stolen from residential areas in Washington, accounting for almost 37% of all those statewide.

SPEAKER_18 1:11:15

68,000?

SPEAKER_19 1:11:17

Yeah. Now, this is gonna surprise you. They found the study where states dominate the top of the list. Number one on the list is Colorado. I wouldn't have thought that. Number two is Washington, three, Nevada, four New Mexico, and five is Missouri.

SPEAKER_18 1:11:29

I wonder if it has something to do with the uh model of car and the concentration of those models in those states.

SPEAKER_19 1:11:36

I don't know.

SPEAKER_18 1:11:37

I don't know.

SPEAKER_19 1:11:38

All right, we're in private chat.

Brits Try Biscuits, Gravy, And Iced Tea

SPEAKER_19 1:11:40

We're gonna end on something fun. Uh some good old peasant food. We're gonna watch some English school kids eat biscuits and gravy. What do you think it is?

SPEAKER_13 1:11:51

They're not scones.

SPEAKER_15 1:11:55

They look exactly like it's an American biscuit.

SPEAKER_13 1:11:58

Biscuit. Biscuit. Nailed it. What do you guys think of when you think of a biscuit?

SPEAKER_15 1:12:04

Crunchy. English biscuits are quite like thin.

SPEAKER_13 1:12:07

Something like that.

SPEAKER_15 1:12:07

Yeah, yeah, yeah. So what are you holding right now? A biscuit. That is a scon. Just a biscuit. Whoa. Soft. That's fluffy.

SPEAKER_13 1:12:15

Just like bread. You've halved it like a scon.

SPEAKER_15 1:12:18

I don't know how this can be a biscuit.

SPEAKER_05 1:12:28

That's really good, dude.

SPEAKER_26 1:12:34

It's like sweet bread, basically.

SPEAKER_13 1:12:36

Like a fresh loaf of bread. You'd almost always pair it with something.

SPEAKER_15 1:12:40

Oh yeah, I've had it with this, yeah, yeah. Gravy, gravy.

SPEAKER_13 1:12:43

Gravy.

SPEAKER_15 1:12:43

What?

SPEAKER_13 1:12:46

Why?

SPEAKER_15 1:12:48

How did he eat scones and gravy?

SPEAKER_13 1:12:50

Now it's a bit different than the gravy you might know.

SPEAKER_17 1:12:54

That's not gravy. That's not gravy. What is that? It's not a gravy, I'm sorry. Oh looks a bit like it has so many vegetables. Oh my god. It's lumpy. You have to eat all of it.

SPEAKER_14 1:13:11

Let's call it intraven. Looks like vomit. I can't like it.

SPEAKER_13 1:13:15

It looks like vomit to be okay. Well, dig in. Let's see what you think.

SPEAKER_16 1:13:21

I'm so scared to try this. Why are you scared? Well, scones and gravy seems really weird. Oh my god, that's so good.

SPEAKER_26 1:13:37

Wow. That is good. There's a lot going on in that. I am baffled. Like, what even is this? Okay. It wasn't as bad as I thought it was gonna be.

SPEAKER_15 1:13:48

It's quite nice. It's not too bad. It looks and smells rank, but it actually bags.

SPEAKER_13 1:13:56

Although that's a very classic pairing in the south, you'll often have it with southern fried chicken.

SPEAKER_15 1:14:02

Yeah.

SPEAKER_06 1:14:05

Okay, okay, okay.

SPEAKER_13 1:14:07

I love my chicken. And dip some in the gravy and see what it's like together.

SPEAKER_14 1:14:10

It's gonna be lovely.

SPEAKER_17 1:14:20

Absolutely amazing. Just violating the chicken.

SPEAKER_16 1:14:27

Oh wrong. It actually makes me happy how good. Oh my gosh.

SPEAKER_12 1:14:36

Oh my gosh.

SPEAKER_25 1:14:39

Oh my god. The biscuits and a gravy on its own, not a not amazing promo, but the chicken, the chicken is good with the gravy and the biscuits. That's good.

SPEAKER_14 1:14:47

Why did they make this? This is not good. One of the best things I've had with chicken in my life.

SPEAKER_31 1:14:55

Really?

SPEAKER_14 1:14:57

Okay. Big bit of gravy on a chicken. Absolutely lovely.

SPEAKER_13 1:15:01

In the South, they've also developed their own culture for biscuits and tea. You don't have tea with gravy. It's southern tea.

SPEAKER_15 1:15:12

First thoughts, I thought it was coke.

SPEAKER_26 1:15:14

Why is it called if it's tea? I'm very reluctant. Is this your first ever iced tea? Yeah. I know, right? We haven't experienced life yet.

SPEAKER_25 1:15:22

Come on, let's do let's do cheese. That's nice. That's what a nice tea. Yeah. Yeah. This one. It's a winner. It's a better winner.

SPEAKER_15 1:15:31

The iced tea is so good. Oh my tease. You know what? I think that's better than hot tea.

SPEAKER_17 1:15:38

A lot better. Ow.

SPEAKER_15 1:15:39

If I gave this to like my mum and dad, if they didn't like this more, we would have problems.

SPEAKER_17 1:15:44

Oh. Oh, that's so good. It's more sugary than coke, but I think it's a lot better. You're very case. It's quite nice. It's quite nice. A lot of sugar. A lot of sugar. A lot of sugar. I think I could probably finish two of these while he finishes that. Really? Yeah.

SPEAKER_13 1:16:01

Alright, do you have a final word for anyone at home who's watching?

SPEAKER_16 1:16:04

Bring your fake scones and sorted gravy to England. Your food is weird and nice.

SPEAKER_13 1:16:10

Coming from a country where we made beans on toast.

SPEAKER_16 1:16:13

Well, that'll work. That's gross.

SPEAKER_18 1:16:16

Beans on toast. Maybe we could achieve world peace if we had a department of biscuits and gravy.

SPEAKER_19 1:16:22

Biscuits and gravy, yeah. Biscuits and gravy and chicken. What is that? What is that? What's the restaurant that does that? Um Waffle House. Waffle House. We just need a Waffle House. I'm looking for funders. If anybody wants to win money, we're gonna open a Waffle House in London. We'll probably do really well.

Wrap Up, Raid, And One More Clip

SPEAKER_19 1:16:36

Alright, folks, that's it for us today. I just thought we'd go out with a smile. We'll talk to you again tomorrow.

SPEAKER_18 1:16:52

Hey people. I just I forgot to do a raid, so I'm gonna do one. Slash raid.

SPEAKER_05 1:17:03

Just show with me for a second.

SPEAKER_18 1:17:15

We're just gonna get these raids out there so we can just take them.

SPEAKER_05 1:17:36

Oh yeah, you want to be Johnson?

SPEAKER_08 1:18:12

I'm thirty-seven.

Monty Python And Peasant Politics

SPEAKER_08 1:18:14

I'm thirty-seven, I'm not old. Well, I can't just call you man. You've got to say Dennis. I didn't know you were called Dennis. I did say something about the old woman, but from behind, you're not subject to if you automatically treat me like an imperialist. Well, I am king. Oh king imperial. How'd you get that, eh? By sliding the workers, by hanging on to outdated imperialist dogma which perpetuates the economic and social differences in our society. If there's ever going to be any progress, how do you do, good lady? I'm Arthur, King of the Britons. Whose castle is that? King. The Britons. Who are the Britons? We all are. We are all Britons. And I am your king.

SPEAKER_31 1:19:02

No other king. I thought we're an autonomous collective.

SPEAKER_08 1:19:05

You're fooling yourself. We're living in a dictatorship. Stop perpetuating autocracy in which the working classes. That's what it's all about. These good people. I am in haste. Who lives in that castle? No one lives in there. Then who is your lord? We don't have a lord. What? I told you. We're in a narco-syndicalist commune. We take it in turns to act as a sort of executive officer for the week. Yes. But all the decisions of that officer have to be ratified at a special bi-weekly meeting. Exactly. By a civil majority in the case of purely internal affairs. But by a two-thirds majority in the case of quack. I order you to be quacked. I'm your king. You don't vote for king. The lady of the lake. Her arm clad in the purest shimmering samite, held aloft Excalibur from the bosom of the water. Signifying by divine providence that I asked was to carry Excalibur. That is why I'm your king. Listen, strange women lying in ponds, distributing swords, is no basis for a system of government. Supreme executive power derived from a mandate from the masses, not from some farcical aquatic ceremony. You can't expect to wield supreme executive power just because some watery tart from a saw that is. I mean saying I was an emperor. Just because some moistened beast loved the symmetry at me. I'm on about do you see repressing me? You saw it in your