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- [00:00]
Host or Analyst
Foreign caved on the tariffs, that he went on a 72 hour blitz that he would never cave on. Of course he immediately caved. But before he did so, he made sure that all of his billionaire friends had notice so that they could do a pump and dump scheme. Put up this graph. As you can see here, the insiders that knew from the Trump administration what he was going to do, they all went in and bought low and. And then the public found out later, this is corruption of the highest level in the United States government. This delegitimizes our markets. Maybe they came up yesterday, maybe they'll do okay today. But for the long trajectory of our markets, this delegitimizes our economy, which is a play that authoritarians use.
- [00:53]
Co-Host or Analyst
It is no surprise to me that he gave notice to the insiders and that people, billionaires, oligarchs, made money and the public still is holding the back on all this.
- [01:03]
Host or Analyst
Okay, here's the first case in point in this. The evidence. Here's the receipts. Play the clip.
- [01:08]
Guest or Expert
Schwab.
- [01:09]
It's not just a company, it's actually an individual.
- [01:12]
He made, he made two and a half billion today and he made 900 million. He's in financial.
- [01:18]
I've always read.
- [01:20]
Host or Analyst
I assume this plays really well with the Fox News cult that watches propaganda all the time that worship money and they admire wealthy people so much. Like there is this worship of wealthy, wealthy people. And you heard them all knee slapping and bragging, you know, he made a couple billion, he made 900 million. And they just think this is a great time. Meanwhile, all of these older people that sit around and watch Fox for three or four days live off the interest of their 401ks. They're going to dismantle Social Security. There's no empathy. He has normalized being cruel and valuing profits value, valuing moralist billionaires over any sense of decency. This is just dagger after dagger after dagger in the way that we used everything that we used to hold dear.
- [02:13]
Co-Host or Analyst
He absolutely comes out and says this is, I mean, he advertises corruptions. I don't know if it's arrogance or stupidity, but he is telling us that he is absolutely gaming the system for billionaires.
- [02:27]
Host or Analyst
This is an authoritarian play. They normalize corruption. Everything that he's doing right now is a play from an authoritarian playbook. He is normalizing corruption. He's making the public become comfortable with it. And these moves that we see, all of this is a means to his end of being an authoritarian with all of the power concentrated to him. He decides who gets rich, he decides who gets poor. And all of this is the optics propaganda of an authoritarian. Fox, though I don't know if Rupert Murdoch or some of the friends are having a hard time continuing down this path, but Fox is having a hard time with what they define as patriotism and facts. Let's listen to Charlie Gasparino.
- [03:18]
Charlie Gasparino
I want to tell you right now that Donald Trump outsmarted the world. Trust me, I'm an American, I support my president. But that's not really what happened here. From what I understand, and I know I'll get pushback, but here's what it is and from what I understand, and I'm getting this from people that are talking to the White House, the what happened in the bond market overnight, the spike in yields on the 30 year and the 10 year bond which showed that people were dumping our bonds. And who are those people dumping our bonds? Japan, the biggest holder of bonds.
- [03:51]
Host or Analyst
The biggest thing I want to point out here is how he is such a part of the propaganda machine that he says, I don't want to say this because I'm an American and I love our president. That is the epicenter of this propaganda in this authoritarian regime. As a journalist, as an expert, you shouldn't have to. Those two things shouldn't be in conflict with one another. It's such a tell that he says, I don't want to have to say this. And what he's about to say are facts, facts that are unfavorable to the Trump regime. This is insanity. These are plays out of an authoritarian playbook. And this is why the First Amendment and expertise is so important. And you see, they're struggling with that. They are absolutely struggling with that.
- [04:43]
Co-Host or Analyst
Well, they know their base wants to it's red meat to suck up to Trump. And they are sitting there talking about Biden's mental acuity and trans people as Trump crashes the market because they don't want to go against the Dear Leader. Because the cult doesn't like it.
- [05:00]
Host or Analyst
Well, yeah, because they've been propagandized for years to slowly start thinking maybe democracy isn't good for us. Maybe we should have a person that's in charge of us. And so this has been, these have been the cascading effects of authoritarian propaganda. But again, I would been a little shocked this morning to see Fox propaganda entertainment channel going kind of hard on Trump. And this is important. This is so important because those of us that are in this silo, we know what we're seeing. But those that are in the right wing silo, the authoritarian propaganda silo. It's very important to see this video that I'm about to show you that was played on Fox last night and this morning. Watch this clip. Would you be open to a pause in tariffs to allow for negotiations? Well, we're not looking at that.
- [05:54]
Guest or Expert
Will you do a 90 day pause? Would you consider that or bill yet? You know, I think that the president is going to decide what the president's going to decide.
- [06:01]
Here's the thing.
- [06:02]
There's.
- [06:03]
This is not a negotiation. There is no postponing. They are definitely going to stay in place for days and weeks. That is sort of obvious.
- [06:12]
Host or Analyst
So I thought that mashup was really interesting that they're showing the just these guys are freeballing. It's no, these tariffs are in place. Trusts. Trump is such a tough guy. We're not going to negotiate right now. These tariffs are what we need. And then the bond market starts putting up all of these markers that indicate a massive global meltdown. And some billionaires went to Trump and started, you know, waving their hands. Bessant knows because he is a former hedge, hedge fund guy. And all of these guys are playing around with authoritarianism, which is opposed to, to the legitimacy of the American markets. And at some point there will be a reckoning of all of this stuff that Trump is doing. And yesterday was a mini reckoning of what he is doing. He's like, I'm going to do this, I'm going to do that. You're going to like it. It's no big deal to lose money. Be cool, stay tough, be tough, guys. He didn't want to blink, but he had to blink and before he blinked because he likes to have power. He likes to for people to be beholden to him. He said, OK, I'm about to do the 90 day pause. And that's why I started off this video with the first marker in that chart. So this is corruption at the highest level. And this delegitimizes one of the pillars of American strength, which is the American economy. And authoritarians do this purposely. They purposely delegitimize all of the pillars in a democracy. And this is incredibly dangerous. Trump is bragging now that the markets are doing better and basically they're down to where they were last week. This is not some big victory that Trump has pulled off. All right, listeners and viewers, please support our show by supporting our sponsors. Skin care is something we mustn't neglect. And I have to tell you guys, there are so many skin cares products out there. But I am so lucky that pumps and I have discovered One Skin. This product actually works.
- [08:26]
Co-Host or Analyst
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- [08:38]
Host or Analyst
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- [09:36]
Co-Host or Analyst
Here's what Trump likes to do. Creates a problem, an imaginary problem and then he comes in and sweeps in and says, oh, I fixed it. He started this chaos. He didn't get anything. Like you said, nobody came to him to negotiate. Oh dear leader, please do this. He backed down because he was a panic in and because the global markets were reacting negatively. He got nothing. He panicked. He fucked every American for no reason other than power and like you said, authoritarianism.
- [10:09]
Host or Analyst
And you know, Trump, Trump, there were report, there's reports that, you know, his, his administration leaks that he has said I'm fine with a recession, knows that that gives him more power. But he's, he wasn't good with a depression and those markers in the bond market were indicating, you know, global economic collapse. But I have to give credit to Ron Philipkowski of the Midas touch for coming up with one of the best nicknames I've ever seen. Please put this up. So Stephen Miller tweets, you have been watching the greatest economic master strategy from an American president in history. Ron Philipkowski retweets it comment and says peewee German said last night the global tariffs were the greatest economic strategy ever. Now reversing them is and this is just, this is what happens in this cult. I mean, one minute they are completely all chips in on the tariffs. They're the most patriotic thing that American president has ever done. Then he pauses them. And that's the most, you know, patriotic tough guy thing on the planet. And what this should tell you is at the end of the day, all of the MAGA movement is completely hollow. They don't defend anything because they don't believe anything. Except for this insane authoritarian Donald Trump, who is one of the best propagandists this world has ever seen. He has had 10 years of non stop propaganda where he has moved the needle with the American public, where you have people supporting Russia, where you have people that are opposing Europe, where you have people that hate Canada now because he is good at one thing and one thing only, and that is propaganda. He's a bullshit artist and he has allies in his cause. Fox News and these billionaires that obeyed immediately, they immediately obeyed the authoritarian. We are in a very dangerous time. But at the end of the day, these rich Republican white men love their money. And I think that this reckoning we saw a mini reckoning with this authoritarian regime right now. More and more as we go on, there are going to be more reckonings and we're going to be here to call them out every single chance we get to, because this is the fight of our lives right now. And they throw all of this stuff at you all at the time because they want you to feel helpless, they want you to feel hopeless. And so we have to stay on task at all times because this is authoritarian. This is an authoritarian play. And he has a lot of allies that are helping him. But we need to keep applying pressure. We're on our way to 1 million subs. Please subscribe and we'll see you all later.