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Iran Peace Talks KICK OFF, Democrat financial scandal exposed | 10 Minute Drill Monday Rundown
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Amidst the ongoing fallout from President Trump's MOU with Iran, we break down what happened in Switzerland on day one. We're going to talk about what's going on on Capitol Hill this week ahead of a very busy last stretch before the 4th of July recess and what might come immediately after that. We're going to talk about the war over the Reflecting Pool. A whole lot of things going on for this special Monday rundown from 10 Minute Drill. Everybody get up.
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Get up.
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The story of America is the story of an adventure.
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I can hear you. The rest of the world hears you. We are a nation under God, and I believe God intended for us to be free.
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Yesterday, Vice President J.D. vance, alongside Special envoy Steve Witkoff and Jared Kushner, began negotiations in Switzerland at the beginning of the 60 day window of this mou period with Iran.
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Now, this is a historic meeting. Never before outside of Islamabad and here. So outside the last few months, never before has the Iranian and American leadership met at such a high level.
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There's going to be a lot of reporting, and there already was a lot of reporting yesterday about things like diplomatic faux pas, the Iranians trying to embarrass the American negotiating team. Depending on the media source you follow, you'll have a very different output of what came from those initial negotiations. It's going to look a lot like everything with Iran up to this point where the Iranians race the microphones to describe their side of the story, while the Americans take a little bit more of a methodical approach to explaining exactly what they tried to get out of this. There's still a lot of debate about whether or not the Trump administration's decision to sign this MOU that looks to have a lot of front loaded benefits for the Iranians was a good idea. And even over the weekend, there was a lot of back and forth of whether the shade of Hormuz is closed or open. One of the biggest challenges here is the fact that Iranian proxies in Lebanon, Hezbollah, have continued to attack Israel. Israel will respond and Iran will use that as a pretext to say we are no longer at the negotiating table, this has been violated, things like that. And so Iran is playing a pretty big game here, and President Trump seemed to get a little bit sick of it with this post. Iran must immediately stop their highly paid proxies in Lebanon from causing trouble. If they don't, we'll hit Iran very hard again, just like we did last week, only harder. So between the proxies and the Strait of Hormuz, President Trump also said we will simply take the Strait of Hormuz if we need to. The Iranian negotiating team put out through media that they were stepping away from the table because of these threats. But President Trump is saying the exact same things that he said this entire time. He's not going to take a lot of nonsense from the Iranians about things that they believed were beginning of the negotiation agreements like the strait's going to be open, there's not going to be tolls, and Hezbollah is going to stop attacking Israel on behalf of Iran. Those things have actually stopped. So one challenge the Trump administration has is you see a lot of Trump allies now attacking people who are raising questions about this mou and they're trying to say, you're neocons, you wanted a forever war, things like that. The challenge with that is most of these people who, you know, are now raising questions are people that really join President Trump in supporting Operation Epic Fury. They're people who might have said, wait a sec, I thought President Trump didn't want any new wars, any new boots on the ground, but he convinced me the need for Epic Fury and getting rid of this terrible, blood thirsty regime was a worthy cause. Now, six weeks into this, snip, snap, snip, snap, a little bit of whiplash, I'm being told. I'm a neocon for believing that position. So I hope the Vance team will use this opportunity to go on more of a charm offensive and not a sort of, you know, shoot your own friends in the tent for raising questions about something that was the opposite of the administration's position six weeks ago. But we'll see where that goes this week. The reporting is only going to pick up as these negotiations continue. Major scandal is hitting Eric Swalwell's best friend, Arizona Senator Ruben Gallego. This from Politico. Gallego tapped campaign cash for family travel super bowl tickets, records show this is a very similar bit of reporting to what we had about Eric Swalwell just weeks before. We got all the additional reporting about how he had sexually harassed and assaulted women, the misuse of campaign funds. There are very specific rules about what you can use campaign funds for, because donors give you campaign funds for a campaign. They don't give it so you can buy super bowl tickets. So Ruben Gallego is in a lot of hot water here, and he already was in hot water because of his friendship with Eric Swalwell and the fact that there's a lot of questions about what he was present for among Eric Swalwell's impropriety. So this is A story we're going to follow really closely this week. There are two major financial stories we've been following pretty closely here on 10 Minute Drill. One is the clarity act, the major crypto legislation that is being considered right now in the Senate, waiting for a vote that would give new guardrails and regulatory framework to cryptocurrency the United States. It's a really important bill. If you ever have had skepticism about crypto, if you've ever thought, geez, the only time I hear about crypto is negative stories about things involving, you know, impropriety, international issues, things like that. The Clarity act is what gives the rules to prevent those bad things from happening. And so we are going to keep watching that, talking about it this week. The other major financial issue that we've talked about quite a bit is the open banking rule. This is a part of Dodd Crank. It is very dense policy, but it relates to whether or not banks are allowed to charge you fees for access your own banking data when you connect your bank account to any kind of app, online, things like that. The truth is that if the Trump administration allows these big bank fees, everything you try and do with payments is going to cost more money. That's why you've been following it really, really closely. Washington Reporter reported on Friday, pretty scary news about that exclusive CFPB preparing to allow big bank fees on digital transactions in open banking rule. Now, I don't know what's actually going to happen with this. There's rumors and the Washington Reporter dove into the fact that a rule is next month. But you may remember several months ago the entire sort of financial innovation world raised alarm bells about this potential for fees, particularly fees related to the volume of online transactions any company might process. Meaning that if a company is really good and so a lot of people use them and there's a higher volume of transactions, they're going to have to pay more and more money and essentially go out of business. And so this is a scary thing because it will add fees to everything in your life that you do. So we'll continue to watch the open banking rule really closely because at the time this was originally sort of, you know, covered Donald Trump Jr. The Winklevoss twins, David Sachs within the administration, number of other people raised alarm bells saying, wait a sec, this will do major damage. Particularly at a time when President Trump is trying to cut costs and make things more affordable. These same big banks who have carried out a lot of left wing policies are trying to add new fees that will undercut that entire affordability agenda. So we'll watch that issue really closely. You may remember hearing about Maryland Senator Chris Van Hollen when we talked about having margaritas with Ms. 13. He was the senator that traveled down to El Salvador to meet with the MS.13 gang member who'd been removed from the United States. And the Democrats said removed improperly. Things like that marks with MS.13. Chris Van Hollen is who we've talked about quite a bit. Well, he has told notice that he is kicking the tires on a possible presidential run. One reason I think this is notable is Democrats are going to have the ultimate clown car primary in 2028. Every Democrat right now is looking in the mirror and seeing the next President of the United States. And it's going to look a lot like how it looked for Democrats in 2020. You may remember early in that cycle there were campaign events that had 27 Democrat candidates and it was a race to the far left. We already know there's a Zon wing that is on the rise. Bernie Sanders, Zoran Mamdani, Rohana is a part of that. They're going to be knifing each other to get to the furthest possible left lane. Then you're have a whole range of lunatics from Chris Van Hollen to Cory Booker to every Democrat out there who thinks this is their moment. And I can't wait to see it. But we're gonna keep following these dynamics really closely so you can get to know these candidates as they put their names out there, just to know how absurd this whole thing gets. In addition to trying to advance crypto legislation, trying to advance the FISA bill and a number of critical nominees, there's also gonna be activity in the Senate Appropriations Committee this week where they're looking to advance more spending bills. That' committee that Susan Collins is chairwoman of, normally very bipartisan. Not a ton of crazy fireworks until this year when Democrats decided holding DHS funding hostage was a smart political move. So there may be fireworks on that, but it is going to be a rush between now and the 4th of July to pass as much as possible. But there will be a lot more activity in the back half of the month of July with the Senate and the House both trying to pass a bunch of really important bills. So we'll follow that really closely. The other things we're gonna be watching, we're gonna continue to do fun segments on the World Cup F around the world. A few more really fun Japanese ones we saw over the weekend that we'll cover this week. It's been a blast. People have really had great comments and feedback on some of our segments on that. We'll look forward to covering that. Kamala Harris wants to get rid of the Electoral College. We're going to have fun diving into that. Of course, if the Electoral College didn't exist, Kamala Harris would have still lost, but by even more so. That's kind of funny. We're going to talk about the land acknowledgement at Barack Obama's presidential library opening. How fitting that is is so many funny stories and substantive stories this week. You won't want to miss it. I'm traveling, but we're going to try and do 10 minute drill from the road as much as we can. Please stay with us. Have a great rest of your Monday.