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DOGE Audits The Fed, Pam Bondi vs New York, Tulsi Gabbard Confirmed, JFK Two Shooters? | PBD Podcast | Ep. 547
02:08:35
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- [00:01]
Patrick Bet-David
Did you ever think you were made again, Adam?
- [00:10]
Adam Sosnick
What's your point?
- [00:11]
Patrick Bet-David
The future looks bright. My handshake is better than anything I ever saw. It's right here. You are a one of one, my son. I don't think I ever said this. Okay, so episode 547. We got a big announcement to make here today, but before we do so yesterday we did a very. Rob, can we qualify that as a strange, unique podcast? Yes or no?
- [00:37]
Rob
Yes.
- [00:37]
Patrick Bet-David
Maybe one of the. Because maybe it's directly involved with my life and where I was raised at. But let me tell you who sat down with us yesterday. Yesterday we had the founder of the Islamic Revolutionary Guard Corps, irgc, the ones who have Hezbollah, isis, Hamas, Houthis. The founder who was in the room helping Khomeini put it together. This man right here, the founder of It Was Yesterday got very, very heated because he was a guy that was not a fan of what the Shah did. And he was also a guy who. His direct report ended up killing the President and the Prime Minister of Iran at the time. While he was on the fourth floor of a building. They were on the first floor. That direct report came and dropped a bomb, killed him. And then he came back and said, the founder. He came back and he says, well, the guy is dead. The country had a funeral, millions of people mourning it. And afterwards, the country realized the guy was alive the entire time. You're going to hear me when I ask him that question. We had a lot of other heated debates about population being brainwashed. Anyways, I'm excited about that one being released. It's very heated, very controversial. I think you'll enjoy it. Aside from that, there's a lot going on right now, obviously, that we'll be talking about. You know, these politicians, they're so funny. There's a clip I want to show you of Maxine Waters saying, this is not fair. What they're doing is they're finding out what we're doing and they're finding out what we're doing. I'm sorry, what? They're finding out what we're doing. That's exactly the point of Doge and why they're trying to find out what you're doing because we want to know. That's what people voted for. Yesterday I was on Fox Business having a conversation with them. I said, it's so funny, the fact that they don't mind hiring IRS agents to audit you. They don't mind coming and finding out what you're doing with that $600. What you're doing with that $300. They want that money for sure. They want to audit every one of you because they don't trust you. But in return we're supposed to trust that everything they're doing is good and we don't have to worry about any of that stuff. No audited financials on every governmental institution on its way by these guys and we're excited about it. We'll talk about some of the numbers here on what's coming up story here. Daily Mail Elon Mark Musk vows to root out out the highest paid corrupt bureaucrats. MAGA head of JFK files task force claims ready? There were two shooters. What? What? Now we find out 60 something years later there were two shooters.
- [03:00]
Vinny
Weird.
- [03:01]
Patrick Bet-David
Yeah. Two shooters, right? California's insurance last resort runs out of money to pay LA fire claims. Wait till you find out who is running out of money and who they're coming to. They're going to be coming asking you for some money. So stay tuned. That's coming up here soon. Caruso claims that LA slams LA after Olympics construction delayed over fire these guys may not be ready for the Olympics, by the way, just so you know that with all stuff that's taking place. Tulsi Gabbard sworn and congratulations to her as the Director of National Intelligence. DNI Trump speaks with Putin says negotiations to end war in Ukraine will begin immediately. Freed American hostage Mark Fogle lands in US after prisoner swap with Russia Billionaire hedge fund guru wants Trump's tariffs are harmonious. And by the way, this billionaire guru is a supporter of Trump. And you know who this man is. And he left the state, Illinois, Chicago to move to the state of Florida, Miami. And you'll see why he's saying that. We'll talk about that. Donald Trump demands NCAA strip trans athletes of women's titles and wants the Olympics to adopt his transgender athlete ban, which by the way, we fully support. Borders are Tom Holman accuses FBI of leaking information to the ice. Rates lives at risks is what he says, and he's not satisfied with the number of arrests. There's another story that comes out with the fact that I believe ICE was Where's the ice? Wants you to know if people are posting negative things about them online, that's a little bit disturbing. We'll cover that as well. It's not just the good, it's got to be the bad as well. Doge slashes over $100 million million dollars in DEI funding at education program Win for every student Elon Musk warns they want to audit The Federal Reserve. And Jerome Powell pushes back and says the Fed is overworked, not over satisfied. Biden is the least popular living president as Trump enjoys near record favorability polls. Massachusetts city okay. Sanctuary city status for transgender community. Francis Macron says plug baby, plug probably not a phrase he should use. Amid push for nuclear powered AI, another major company moves its headquarters from California to Texas and students half a grade behind pre pandemic levels in math reading study. It's funny, I was just sitting down this morning with my daughter looking at her where she ranks on math against norm. And that was one of the things we were talking about. This next one, I got a clip I want to show you here in a minute of what Bill O'Reilly says. Your next dog lawsuit against New York hokul Letitia James over immigration coming soon. And there's a whole different level to that story that we'll discuss. Having said that, let me give you the big announcement. March 4, 3pm to 4pm Put it in your calendar. We're announcing a massive upgrade to Manect. If you have not yet downloaded the app and used it for some of you that are using the app, you know we're communicating on a regular basis. How much business is being done? A guy manects me 6 months ago saying, pat, I want to go out there and become a professional sports owner. One day I said, hey man, keep dreaming. That's good. I used to dream as well. He says, no, no, no, I'd like to do that now. I said, what kind of money you got? Do you have cash? He says, I'm sitting on $100 million. My net worth is $300 million. I said, let me introduce you to my guy. Introduce him to the guy. Six months later, he becomes a professional sports owner of the team that he wanted to get to. And that was all because of my neck. These are contacts, relationships that happen on my neck. But on the 4th, we're introducing something called the circle economy. So imagine all of you that are watching this, all of you that are curious about the stories that like debate, that like these discussions, but you want to be able to communicate with the entire community of PBD podcast in a circle. Like you get to say, did you see this? Did you see that? Throughout the entire day that'll be launched and you'll get access to our notes that we're having on the podcast that we go through. Only people on the circles will have that. You'll get a behind the scenes stuff that we do and you'll get a chance to Create your own circle, get compensated, will be recognized and rewarding. And on top of that, I'm announcing a contest on that day. Folks, we. Every year, this is, this is. We get. We got the biggest suite at the Kentucky Derby. We were there last year. I took my kids. Dylan was going around spending time with everybody, making bets. It was a hilarious.
- [07:10]
Vinny
Spending my money too.
- [07:11]
Patrick Bet-David
Spending and making money, making money. But it was a good time.
- [07:13]
Adam Sosnick
Dylan the bookie.
- [07:14]
Patrick Bet-David
Dylan the bookie. We had a phenomenal time. We had the biggest suite on the fifth floor right at the finish when the race ends. They call it the most exciting two minutes in sports. And we want to invite you to come and join us. These are not $5,000 seats. These are not $10,000 seats, but we want to invite you to come and join us. And it's a contest tied to Manect. Whatever you do, download the app, more importantly, get on your calendar, put it in there for March 4th and go to this website that we have here, Rob. Vtwebinar.com Go to vtwebinar.com Sign up now. This will be packed and we'll be making a lot of announcements. A lot of unique people will be on there talking about their circles as well. So having said that, can I wait to see you guys? March 4th, 3pm Go to vtwebinar.com Register Secure your spot because it will be a massive. Especially for those of you that watch PBD podcast. Look forward to seeing you there. Having said that, let's get right into it. Doge slashes over $100 million in DEI funding at education Department win for every student. Okay, so this story is coming out, and this is backed up by Trump wanting to go after Federal Reserve. But let me first read this to you here. Department of education efficiency. Doge, led by Lamas, announced termination of 89 Department of Education contracts worth $881 million, including $100 million in diversity, equity and inclusion funding. The Cancel DI training programs aim to help students understand, interrogate the complex histories involved in oppression and recognize areas of privilege and power. Musk reacted to the spending of stating your tax dollars were spent on this. Rob, do you have a clip on this, by the way? Is this it?
- [09:00]
Rob
This is.
- [09:00]
Adam Sosnick
Yes. Jesse Watters last night from Fox News kind of breaking down what they stripped from the department.
- [09:05]
Patrick Bet-David
Go ahead.
- [09:06]
Vinny
The whole government's being audited.
- [09:08]
Adam Sosnick
The Department of Education is being actively dismantled. The dozers are in the building on the sixth floor canceling grants and contracts. Nearly a billion dollars of wasteful contracts were ripped up yesterday, like this one, a contractor was paid 1.5 million to observe mailing and clerical operations at one mail center.
- [09:32]
Patrick Bet-David
Did you see 1.5 million observing mail.
- [09:34]
Adam Sosnick
Being opened and being sent for 1.5 mil? This is the kind of no show job a mob boss gives their cousin. Doge also terminated 29 DEI training programs at the Department of Education worth over.
- [09:49]
Vinny
A hundred million dollars.
- [09:52]
Patrick Bet-David
It's the same thing I'm reading, by the way. One and a half million dollars is $750 an hour is what you're making. Let me say that again. $750 an hour. They're paying somebody to watch others do what they're doing. If the math breaks down to one and a half million a year. Tom, what do you know about what's going on here with Doge and them going after Department of Education?
- [10:11]
Adam Sosnick
So the Department of Education has long been thought to be nothing more than an indoctrination lab. Like the things they're doing in Washington, they're pushing it out. It's like they're pushing policies out. Like you can see the things that they were talking about. And you know, Nick Nailey praised the move and he was the education president. He says DEI was never about equity. It was about enforcing ideological things and institutionalizing them from the federal level down to the state. Shutting down the wasteful programs is a win for the student. So now, you know, you would send your kids to school and all of a sudden there's these saying, well, the federal government, and therefore the school board is going to follow the federal government and we're going to do this and we're going to do that. And all of a sudden those books would show up that you were upset about. And so wait a minute, you know, Sara, Sarah has two mommies and that's okay. And it's way worse than that. So what was happening is the Department of Education was not working to move test scores, meaning to measure nation's youth to see is reading and math improving. The Department of Education was off that. Were they. Did they control certain things to standardize testing? Well, sure, they designated them, but they were out there pushing programs down. And the Department of Education was nothing more than a liberal think tank that was pushing policy down to our schools. Which is why Trump and how many conservative governors are correctly pointing out, hey, if you wanna help me, federal government sends monies to the states all the time for this or that, send us the money and let us work on, you know, the schools and improving test scores. It's indoctrination and now when you rip off the COVID of the budget and you expose the table of contents, it's exactly what we saw in Jesse Waters. Exactly the things you've talked about, Pat. And it is nothing more than programs coming from the federal government to change the minds of our youth. And guess what? It's not going to make a bit of difference in the education of them.
- [12:11]
Patrick Bet-David
By the way, I want to say this, read this. And Vinny, I'm going to, I'm going to come to you here. Watch this here, folks. From the Hill. Students half a grade behind pre pandemic levels in math, reading. This is study finds. Okay. The 2025 Education Recovery Scorecard found that the average student in 2024 remained nearly half a grade level behind pre pandemic achievement in math and reading. The study which ANAL data from 8,719 school districts across 43 states using National Assessment of Education programs, NAEP and the state results reported that no state scored higher on NAEP assessment in 2024 than they did in 2019. That is insane. Not one state scored higher than they did in 2019. While 17% of students were in districts with mean math achievements above that of 2019, only 6% of students in the districts where the scores have recovered in both subjects, only 6% have recovered. The other 94 have not. The study revealed growing educational disparities with highest income districts nearly four times more likely to have recovered in both subjects than the low income districts. The gap in math scores between high income and low income districts has grown by 11% since the start of the pandemic, while the gap between predominantly non minority and predominantly minority districts has grown by 15%. So the Hill is not a conservative outlet, it's a liberal outlet. They're writing this. My feeling is the fact that they're trying to say if they get rid of the Department of Education, this is even gonna make it worse. That's what they're trying to claim. Right? That's what they're trying to say. But even Bill Maher when he was saying I almost agree with everything Rahm Emanuel says, he says there's a reason why this doesn't work. Kids are not getting better grades because of this. So the fact that they're auditing them, getting deeper to see where the hell is this money going, how are we holding these guys accountable to do better job with our students? I think that's a good thing. Vinnie, your thoughts?
- [14:12]
Vinny
Yeah. Well, there's, there's a, there's a guy that told me to read this book called Outwitting the Devil by Napoleon Hill. His name is Patrick, you might, you might know him. And one of the main things that the book, Pat, and you could attest to this was that traditional education system suppresses independent thinking and creativity in schools. They teach kids to conform, memorize and obey, then develop critical thinking and self reliance. So he claimed, you know, the education system is a tool to keep kids trapped. It keeps, and it doesn't surprise me that all this money and all this suppression, it's, there was two things. It was religion, how religion keeps everybody separated, and it was a school system. And just to take a step back, as Tom reminded me, think about what Fauci did, what they did with the pandemic and all the policies, Tom, that screwed over these same students in public schools. In public schools. So it's like, and again, this is just on top of the list, Pat, of all the other stuff where kids are the most neglected. There's a million of them missing from the border, 300,000 here, 200,000 here. They're the most neglected. But I think this type of situation is, is one of the best things, Pat, because they're exposing all these people for who they are.
- [15:14]
Patrick Bet-David
Yeah, but by the way, if your kid is over 12 years old, have them read outwitting the devil.
- [15:19]
Vinny
Thousand percent.
- [15:20]
Patrick Bet-David
I had my son read Outwitting the Devil. Now my second son is reading Outwitting the Dev, and he's 11 years old. He's going to go through this book as well. It gives them the ability to think for themselves without being brainwashed. That's really what it is because there's a lot of brainwashing going on. Rob, how heated would you say the debate was yesterday about folks being brainwashed? And he says, I cannot believe you would think that 2/3 of Iranian people will be brainwashed to turn against the Shah. And I'm like, what, what are you talking about? Brainwashing works. You know, I asked him a question. I said, let me ask you a question. You, you sound like somebody that probably believed. And by the way, the person I'm talking about is Mohsen Sasagara, who was the former founder, he was the founder of the irgc, the Islamic Revolutionary Guard Corps. Was here yesterday for two and a half hour podcast, never done this before. I said, let me ask you a question. I said, you claim brainwashing doesn't work. No, you can't brainwash more than half the populace. I said, really? Did you believe in the Russia collusion that Trump was Tied to it. He couldn't answer for three seconds. He says, well, I read two books and one of the books said the fact that, you know, et cetera, et cetera. I said, really? I said, rob, can you pull up a number on what percentage of Americans believe that Trump was tied to Russia collusion? Remember when you pulled up, what was that number? Over half of Americans over 50. Brain brainwashing words.
- [16:36]
Vinny
100%.
- [16:37]
Patrick Bet-David
Especially when they start with kids early.
- [16:40]
Vinny
Bingo.
- [16:40]
Patrick Bet-David
Tom, I know you have more thoughts on this.
- [16:42]
Adam Sosnick
Yeah. This is also, you know, there were the states. So every state had the issue, meaning in every single state. When you took those poor kids out of classrooms and the public schools didn't have as much resources for Zoom and things like this to have the kids at home. My girls were. And your kids were on Zoom. And I forced them to be on and I made sure they kept reading and they stayed on it. Not every parent was doing that. And in the public schools is where it hit the hardest, because they didn't. And plus, you had teachers saying, well, I'm working from home and I'm wearing a mask 25 hours a day and I'm not gonna do this. All of that thinking, these poor kids at the public school level. That's why this report is called the Education Recovery Scorecard. Looking at things post pandemic. But you know what? Government never met something didn't wanna manipulate. And I think, Pat, you made the best point of the last 10 minutes here. The Hill is trying to build the case and I'm just gonna wait. I mean, you predicted that they would be trying to pit Elon Musk and Trump. I'm gonna follow your lead here. And I predict we're gonna start seeing stories that say Trump is impeding kids ability to recover from COVID They're gonna admit the kids had a problem with COVID and Trump is impeding their ability to recover. Cause he closed down the Department of Education. Because I believe you're exactly right. Your observation? I hadn't thought that way. And I believe you're right. They're running this story to plant the seed to blame Trump. When really what this story proves is that the public school K messed up the worst by Covid.
- [18:24]
Patrick Bet-David
Let me read this next story and then Adam is officially here. Adam, I'm going to come to you. So Elon Musk warns Federal Reserve may face a Doge audit. Okay. Elon Musk is wanting to go after Federal Reserve next. He signaled that the Federal Reserve could face an audit by Doge stating all aspects of the government must be fully transparent, accountable to the people, no exceptions, including if not especially, the Federal Reserve. Musk has long criticized the central bank, calling its workforce bloated and questioning its monetary policy decisions. Musk previously claimed that the Fed has a crazy high number of employees and criticized its handling of interest rates, stating in August that the Fed needs to drop rates and has been foolish not to have done so already. The Federal Reserve later cut rates in September, followed by additional cuts in November and December. Fed Chair Jerome Powell dismissed Musk's claim that the central banks is absurdly overstaffed, stating we run a very careful budget process and we're fully aware we owe that to the public and we believe we do that. Rob, I think you got a clip of Jerome Powell if you don't mind playing. Here's Jerome Powell.
- [19:27]
Adam Sosnick
The Fed is overstaffed. No, I would say that, you know, overworked, maybe not overstaffed. We, everybody at the Fed works really hard. It's a place where people work. A lot of this conversation right now about staffing numbers at different departments, the agencies, you know, it's going back to this sense of the taxpayer dollar in terms of accountability there. But I guess I just want to ask you, you. Is the Fed paid for by the taxpayer dollars? Can you explain to us what the burden is on the taxpayer? So we're, we're self funding through our large balance sheet. So when it comes to the staffing at the Federal Reserve not coming from the taxpayers, is that right? You know, indirectly we, so we give away all of our profits we give back to treasury and those profits would be higher if we didn't pay for the, for the Fed. So in fairness it does ultimately come.
- [20:18]
Vinny
It'S ultimately paid for.
- [20:19]
Patrick Bet-David
What does that mean?
- [20:20]
Adam Sosnick
Yeah, in that sense we're self funded. Self funded, yeah. Just one last question here. You talked about the different actors that are involved when it comes to levying tariffs in terms of paying that the exporter, the importer, the consumer use that middleman could be part of that. I guess. I just wanted to ask you, do you know of any way in which.
- [20:37]
Vinny
To 100% guarantee that the consumers will.
- [20:40]
Adam Sosnick
Not have to pay higher costs when it comes to and tariffs? Ryan Reynolds here from Mint Mobile.
- [20:45]
Patrick Bet-David
I don't know if you knew this but anyone can get the same premium wireless for 15amonth plan that I've been enjoying. It's not just for celebrities. So do like I did and have.
- [20:54]
Adam Sosnick
One of your assistant's assistants switch you.
- [20:56]
Patrick Bet-David
To Mint Mobile today. I'm told it's super easy to do@mintmobile.com.
- [21:01]
Adam Sosnick
Switch upfront payment of $45 for 3.
- [21:04]
Patrick Bet-David
Month plan equivalent to $15 per month Required intro rate first 3 months only, then full price plan options available, taxes and fees extra. See full terms@mintmobile.com not really.
- [21:15]
Adam Sosnick
It's not going to be easy to identify with any accuracy exactly where costs do fall. But I think it'd be hard to guarantee any particular outcome. I think we're just going to have to see. Great, thank you.
- [21:27]
Patrick Bet-David
So by the way, the Federal Reserve has roughly 23,974 employees and their operations are primarily funded by the interest they make off the securities they own. Okay, so that's kind of what he's talking about, where the additional money is being sent back to the Treasury. But Adam, your thoughts on this story?
- [21:49]
Rob
Well, I don't think it's any secret that Jerome Powell and Trump have had a longstanding beef. I believe that Trump, when he was in his first term in 2016, 17, he would basically demand that Jerome Powell would lower the interest rates. Jerome Powell wouldn't do it. It was sort of immune from Trump's criticism. I believe Jerome Powell's tenure at the, at the Fed is up in 2026, like Trump appointed him. I believe in 2016 and it's can you believe it's in 10 years later? And I think his term is coming up. But look, I think overall, if you had to give a grade to what Jerome Powell has done, I would say B plus, A minus. I would not say that he's done a bad job. The whole premise is the Fed should be immune from presidential directives. And basically what I mean, if Trump might feel a certain way and then all of a sudden he feels a certain way the next day, he's sort of holding down a steady ship and I think he's doing a pretty decent job. We've gone through Covid, but what do.
- [22:48]
Patrick Bet-David
You think about, what do you think about Elon talking about accountability?
- [22:52]
Rob
So as far as Elon goes, you know who can get it? Anybody can get it. I feel like every single institution, every single part of government should not be immune from going through this. You know how Santa has his list is not naughty and nice list. And he's checking his list and he's checking it twice. Every single part of government should be checked, double check.
- [23:14]
Patrick Bet-David
And what if they're independent and taxpayers are not paying for it? What if there's a level of independence? Tom, do you think Doge has the jurisdiction to audit Federal Reserve or do you think that's a little bit of because of the way the money is being made? It's gotta be a different level of accountability.
- [23:31]
Adam Sosnick
Well, I think DOGE has the authority and a lot of people say, well, Federal Reserve is really the fourth branch of government and they're somewhat autonomous. We've heard that dating back forever. Well, when Jerome Powell says, I think we run a very efficient operation, I think people are working very hard. Okay, maybe that's true. Okay, let's say it's true. But the best run public companies still by law have to have an audit every year. If you're on the stock market, you have to have an audit, you have to publisher quarterly reports. And even the best run public companies find opportunities to improve. So the don't bother me part of this, and that's not exactly what he's saying, but it is. What he means is I disagree with very strongly. I think Doge has the ability to audit and I think they should audit. Even the most best run companies have an audit every year. So why shouldn't the Federal reserve, especially with 23,000 employees? And by the way, I'd like to say something about what Powell said. Did you hear him at the end? He said, well, it's not easy to identify with any accuracy where costs in the economy come from. You hear that? Yet there's headlines out there saying Trump is causing inflation, so maybe Jen Psaki should go work for the Fed. Apparently she's figured it out. Whereas the Fed themselves are saying, man, it's not easy to have any accuracy where these costs are coming from. It's a little early. So a I, I, I think DOGE has the authority and I think they should.
- [25:00]
Rob
Didn't we just show a video on Tuesday of Ben Bernanke not knowing where a half a trillion dollars went? Yeah, and wasn't he the chairman of the Fed right before Janet Yellen, who was the chairman of the Fed right before Jerome Powell? So listen, the whole premise of the DOGE Department of Government Efficiency is accountability and open up your book.
- [25:23]
Patrick Bet-David
I'm just trying to see. Rob, can you do me a favor? Go on Google or do you have chatgpt if you got it? Go on that and ask the question, does DOGE have the jurisdiction to audit the Federal Reserve? Does DOGE have the jurisdiction to audit the Federal Reserve?
- [25:39]
Vinny
Rob, you're a fantastic typer, by the way.
- [25:41]
Adam Sosnick
Thank you.
- [25:42]
Patrick Bet-David
Let's see here. Okay, zoom in a little bit. No, does not have the jurisdiction affairs of independently enter US Government is out of primary Conducted by the gao, Government Accountability Office, which can audit certain aspects of the Fed, but it is restricted from auditing monetary policy. The Federal Reserve's own inspector general, ig, who conducts the internal audit, which is pathetic. External, independent auditors who review the financial statements. Okay, so wouldn't DOGE be an external. Well, independent is what it is of the Federal Reserve. It is independent of the Federal Reserve. If you mean DOGE in reference to something else like. No, I'm talking about the Department of Government Efficiency. Okay, who do you think? So then who does gao. The Government Accountability Office. Who has that?
- [26:24]
Adam Sosnick
Who.
- [26:25]
Patrick Bet-David
Who controls. Who does GAO report to? Who does GAO report to? The Government Accountability have reports directly to Congress. GAO is independent, nonpartisan, chic Congress agency, but sometimes it's control of the United States, who. At least a GEO president. 15 years. Okay, so then, by the way. No, the only reason I'm looking at this is because if you. I want that to happen. Me too. I'd like to see it. But you need to go through. I remember when Vivek was first getting started, he was saying a lot of this stuff that we can't do ourselves, that we have to go through Congress. This is what Vivek was talking about, that they're gonna need some of these areas. They need Congress's help to be able to do that. Tom, am I spot on? Am I on track here with what I'm talking about?
- [27:05]
Adam Sosnick
Absolutely. And as a matter of fact, you know, there's something that impresses me here, and I'm gonna throw, you know, a golden thank you in your direction. You were always trying to educate everyone at php, at the big conferences, you would have people that would come in from different things. We had, you know, politicians came in and talked. Santorum came there one year. But the year before, you had Troller General of the United States, David Walker came and talked. And so you've tried to educate this, but the way I read this is David Walker, you know, is appointed by the President. So in other words, Congress. The GAO may report to Congress, but the comptroller is appointed by the President. What it just said there, right? So there's how there's like the check and balance of our government, right? That, okay, Congress will, you know, is the power of the purse. And the GAO reports to Congress, but over here, the President will report, will appoint the Comptroller General who leads it. And that's part of our checks and balances. So I think when you peel this back, there is purview for Doge on the Federal Reserve it may not be literal. You report to me, but I think there's a clear path here for auditing.
- [28:18]
Patrick Bet-David
But I don't think it can go through Doge, is what I'm trying to say. I think there's a part of it, a part of it where, for Elon is. And he's pulling it off right now, help working with Trump is. Okay. There's certain things as a doer that you're going to get done because, you know, you control and you trust your instincts. Right. Trusting your instincts and intuition. Most people don't have a high score on that. Okay. Elon's got a high score in that area. Instincts and intuition, great. This area, even if it's high instinct, high institution, high intuition, you still need Congress. You're going to need to go sell Congress on this idea. And I don't know what percentage you need. I don't know how it's going to work out to be able to get it done. But I would want to do an audit and find out what's going on with Federal Reserve. By the way, Rob, do you have a clip of what happened this last week with President Trump and Elon Musk being in the office with his son and. Not this one. Just when they're talking to each other. If you have the clip of them together in an office. Not this one, Rob. There's one where, you know, Musk is there. President Trump is sitting down. While he's sitting down, Musk is behind him speaking, and his son is kind of running around doing this thing. And you watch the press conference. You saw the exchange between the two of them. Rob, if you got the clip, I'd like to show it. If you go on Twitter, just type in Musk and Trump press conference. Musk and Trump press conference. Press conference.
- [29:43]
Vinny
It went for like 30, 45 minutes.
- [29:45]
Patrick Bet-David
Yeah, it was long. That's kind of what it looked like. Okay. If you want to, you know, is there a highlight of it?
- [29:51]
Adam Sosnick
Or this is.
- [29:52]
Patrick Bet-David
Yeah. If you go to pick the shortest one, you got 109.
- [30:00]
Adam Sosnick
Right.
- [30:00]
Patrick Bet-David
Go for it. Go for with that one. Go ahead. So here's Trump and Moss free the builders of America to build.
- [30:06]
Adam Sosnick
And if we do that, that means I think we can get the economic.
- [30:10]
Patrick Bet-David
Growth to be maybe 3, 4%, maybe 5%.
- [30:14]
Adam Sosnick
And that means if you can get a trillion dollars of economic growth and you cut the budget deficit by a.
- [30:18]
Patrick Bet-David
Trillion between now and next year, there is no inflation.
- [30:24]
Adam Sosnick
There's no inflation in 26.
- [30:26]
Patrick Bet-David
So you can pause this. If the government is, you can pause this. I mean, you watch the whole thing, right? Your thoughts on this exchange between Musk and Trump and the sun being there, running around, picking his nose.
- [30:34]
Vinny
It's kind of. It's kind of weird because, I mean, obviously Trump doesn't have any little kids, but for. For. And I. By the way, I love it. I love that he's proud that he's a freaking father. He has how many? 11. 11 of them. And the kid was having fun picking his nose. I don't know if I think he might have been talking to a reporter going, you shut your mouth. It was funny. It was cute. But the dynamic between them, Pat, was very, very interesting because Trump is sitting there and he's saying, you know, all right, Elon, go ahead. And Elon was answering a lot of freaking questions, and he was going in depth. It was long. But I felt the uncomfortableness of Trump, because Trump, when they're in there, he's the talker, Pat. He's the one that's in there. But it was an interesting dynamic because he let Elon go. But, like, I mean, as you guys saw, Elon's there, and Trump is just kind of, you know, waiting to talk, which was kind of awkward, but it's undeniable. The stuff that Elon was saying and the exposure. Exposure of everybody and all these things, even though they were trying to fight back. Like when they said about the. What was it? How many millions of dollars? $50 million for condoms in Gaza? Something like that.
- [31:39]
Adam Sosnick
Anyways, that's a lot of comments.
- [31:40]
Vinny
Yeah, yeah, it was a lot of. But then they're like, you know, it was false reporting because it went to somewhere in Africa. And he's like, what does it matter where the $50 million went through Gaza or. Or Zimbabwe? Where was it? Was it Zimbabwe, Robbie, if it left.
- [31:54]
Adam Sosnick
The US when people in North Carolina are suffering from a hurricane.
- [31:57]
Vinny
Exactly. So it was. It was interesting. It was long, I think. I mean, if you're having your kid in the. Like, he's picking his nose, he's acting crazy. I mean, I think it's a kind of a distraction. I know that you love your kid, but that. That is something serious.
- [32:09]
Patrick Bet-David
I. I think you can. Rob, play this clip, this picture here that you see Kennedy with his son. And you see.
- [32:20]
Adam Sosnick
Was this under the.
- [32:21]
Patrick Bet-David
Yeah. You know, the legendary picture, Rob, I just sent to you. It's the picture of a history photograph. These guys do a phenomenal job. Yeah, right there. If you go to the tweet. Not this one, Rob. It's actually A tweet. I send you the tweet. If you can go to the tweet. Yeah, right there. Okay. So they put it right next to each other. Right. So you see Kennedy on the left, but then there's Trump not with his son.
- [32:44]
Vinny
Exactly.
- [32:44]
Patrick Bet-David
Trump with Musk's son. So I don't know. I don't know about the fact that. And by the way, what is the clip that you're talking about? Shut your mouth. Can you play one of those two clips, Rob? I think there's a. You. You just literally had two of them up. Yeah, Do. Do one of them first and then do the other angle, because I think you got two of them. Do the other one first.
- [33:01]
Adam Sosnick
Okay.
- [33:01]
Patrick Bet-David
You have both of them right up there. Right there. Play this clip.
- [33:06]
Adam Sosnick
From one year to.
- [33:07]
Patrick Bet-David
The next are the same. And they're. And they're.
- [33:12]
Vinny
Is he talking to the report?
- [33:13]
Patrick Bet-David
No, his eyes are not directly to Trump. Yeah, it's still on the other one. Rob, go to the other one that you have. Go to the other one again, zoom this in. Go ahead.
- [33:21]
Adam Sosnick
And the prices from one year to.
- [33:24]
Patrick Bet-David
The next are the same. And they're. And they're.
- [33:28]
Vinny
He doesn't like the media.
- [33:30]
Patrick Bet-David
So, so, you know, 34 minutes, Trump sitting, Musk standing up.
- [33:37]
Vinny
Yes, but, but, but if you watch the, if whoever's going to be out there to watch all clip, he is saying at the pleasure of the president. And I mean, he's giving all the right credit. I just felt as, when Trump's in the room, you know this, he's the talker, he's the guy. There's cameras, it's him talking. It was very, very interesting to see him literally give the baton to Elon and let him go. And you already know what happened in the media. Like, oh, he'd be sitting in the chair. He's a president. I don't think it's getting to Trump, but you could feel that it was a little bit awkward. And it doesn't help when there's a kid picking his nose and telling the.
- [34:11]
Patrick Bet-David
Media, what do you think about it? What do you think about it?
- [34:13]
Adam Sosnick
So I thought at that moment that wasn't the place to have to have a child there with you. You're talking about the economy, United States. You're talking about things are going forward. You know, I appreciate that Elon takes X everywhere, but that's not the place for kids. It's distracting for exactly this reason when important points are being made first. Second, they have set up the Oval Office almost like a Permanent press conference. Have you seen the wide shots of everybody there? They got tripods, extension cords, seats, a little riser in the back. So they have set this up like a permanent press conference place. And this, I think, is not the place for this. I don't think this is a stage for this. I think the president at the Resolute desk speaks for himself, for the country, and sets vision. I would have preferred to see this, you know, the long cabinet table that they have, and then the president will be there and others will be speaking. Well, I'm here with Defense Secretary John. Why don't you tell them what we talked about? And then the president sort of at a meeting, allowing his staff to speak. I think that's a better look for this. And so, you know, Adam, your thoughts? That's what I thought.
- [35:17]
Rob
I fricking love it. I mean, are you kidding me? I mean, the days of doing business as usual are officially over. Look, we're $37 trillion in debt. We're running a $2 trillion annual deficit, and we just can't continue to do things we've always done. Thank God we have someone like Trump that comes in. He's like, you know what? Fu, Fu, you're cool, Elon, you can stay. Let's figure this thing out. We got to get efficient. We got to get accountable. We got to get proficient. What we're doing in this country, whether it's from a cultural standpoint, from an economic standpoint, from an immigration standpoint. Trump has a mandate to clean this mess up. And you're talking to somebody who basically fell for the Russia, Russia, Russia stuff, who fell for the grabbing by the stuff. Now, I want him to grab everybody by the blank and clean up this. This damn country. So special interest groups in. In Washington, you can get it. Lobbyists, you can get it. Everyone that's just sucking at the teeth of D.C. you can get it. How many of the top 10 counties in the country are richest country counties in the country are around the DMV area. I think five out of ten. You've done that. You've done a whole breakdown about how basically Anyone near Washington, D.C. is freaking rich in the DMV area. DC, Maryland, Virginia.
- [36:36]
Patrick Bet-David
I'm with all of that.
- [36:37]
Rob
Enough's enough.
- [36:38]
Patrick Bet-David
I'm with all of that. I'll give you basic etiquette for me, okay? The basic etiquette for me is. Is musk. I don't have a problem with you having your kids everywhere that you go, all this other stuff. If President Trump said it's okay. Then it's his call. Okay. If President Trump says it's okay, he said it's okay. Right. But if President Trump's grandkids are there, I don't have a problem with them. He's the president. Okay. There's got to be a little bit of etiquette in this setting. They can be anywhere else. Press conference behind that desk in the Oval Office, that is sacred and it's kept for president and his kids. This is me. You can call it traditional. You can call it whatever you want. That's the only thing I'm saying right here. This is not a big deal. All I'm saying is when something like that is happening, I think anywhere else in the world, that can happen. I don't give kids or. I actually love the fact that kids. I love seeing Elon with his son on his back. I love doing that with Senna. I have a picture. The only picture I've never changed on my phone is it's been the same picture. The kids fight over whose pictures on the phone. It's been the same picture of me and Senna since she was 2 years old. She's 8 years old right now. This picture has never changed. Okay. On my phone. I love. This is. When I used to walk her in Plano around our community, she would fall asleep on my head, and she would put her head like this on her hands, and she would fall asleep. It was the best when I would do that with her. But Oval Office, if the president said, no problem, fine. But if the president, deep down inside wouldn't want that, it needs to be a little bit more protection for. And you got to kind of stand on the side of the table, not behind it. You got to stand a little bit to the side of the table when they're speaking and standing. All of that.
- [38:25]
Rob
Can I tell you one of the things that I actually love what you do, and I understand the, you know, tradition and respect and obviously with that. But, like, when you interviewed Shaq, you had Dylan on stage with you.
- [38:36]
Patrick Bet-David
Yeah.
- [38:36]
Rob
And that was amazing. I mean, he calls him Uncle Shaq. Even at the. At the election event, you had Dylan on stage with you there. There's. There's something human I agree about, especially when you bring your kids.
- [38:48]
Patrick Bet-David
Even when there's one room in the world.
- [38:50]
Rob
Yep.
- [38:51]
Patrick Bet-David
There's one room in the world that's super sacred, and that's this room. And this room has to be protecting of the man sitting behind that chair. Like that chair right there. There's got to be respect for that shit, that's all I'm saying. And by the way, Elon's given respect, he's standing on the side. It's good, but just something to think about.
- [39:07]
Rob
If he was behind him, massaging him or something like that.
- [39:10]
Patrick Bet-David
No. And you know why I'm saying this. Don't give the media more ammunition, things to talk about. Don't give it to them. They're going to find already plenty of stuff. Don't give them any additional things to be talking about anyways, okay, so let's go to the next story of what we have here, California. California's insurer of last resort runs out of money to pay LA's fire claims. Okay, so let's see this here. California's Insure Blast Resort, the Fair Plan, has run out of money to cover claims from devastating LA fires and will receive a billion dollar bailout. By the way, the Fair Plan, you know, the Fair Plan that's supposed to take care of all these guys. It ran out of money and needs a bailout of a billion dollars. State regulators announced Tuesday. The fire destroyed roughly 6,800 structures in Pacific Palisades and 9,400 in Altadena, leaving homeowners who could not get private insurance dependent on fare. To date the Plan has paid $914 million in claims, with more expected. California's Insurance Commissioner Ricardo Lara approved a billion dollar assessment on insurance companies that operate in the state, allowing insurance to pass some of the costs onto policyholders, potentially raising homeowners insurance price statewide. Tom, your thoughts on the story?
- [40:31]
Adam Sosnick
This pisses me off at a high, high level because if you read that last sentence, Commissioner Ricardo Lara approved a 1 billion assessment. There's two things here, America. We're sending a billion dollars to California to help bail out the Fair Plan because of poor forestry management, old equipment from PGE that would spark and start fires, poor management of reservoirs, poor water management, poor funding of fire departments, all of which caused this. Even if it was a natural start of the fire during fire season, all of it caused it to be worse and to be the incredible tragedy, the unprecedented record setting tragedy and a billion dollar bailout. Guess where it's going to come from? It's going to come via fema and it's going to come back to California because the states don't run permanent deficits. They have to find a way and that's when they reach out for government grants and government money to do that. The second thing he did, because there's 2 billion, that's the first billion the second billion, he approved a $1 billion assessment. Insurance companies. When the state of California puts an assessment on the insurance companies, Vinny, you know what that means they can do. They can pass that on to the subjects of the assessment, the policyholders in California. So you can take that billion and you can spread it across the policies next year. So for the people that manage to still have insurance from a carrier that manages to still be doing business in California, they're gonna have a rate increase so that the carriers can pay for this. This starts at the top with bad management of the forestry and the things that I talked about. And now you end up here. That's the upstream. It starts with Gavin Newsom, and then you end up all the way at the bottom. Gavin Newsom asking the federal government for money, and then. And then changing the rules of where it's been burnt down, telling people, you can't rebuild your house, you're gonna have to build low income housing. This is the biggest screw job on property owners. Whether you lost your company, you lost your house, or you're still in the state and going to have rates go up even higher.
- [42:34]
Patrick Bet-David
So here's how this works. So here's how this works. Okay? Vinny, imagine if you are very irresponsible with your finances.
- [42:43]
Vinny
Okay?
- [42:44]
Patrick Bet-David
Okay. So you go ask. You go ask your mom for money to bail you out because you don't want to go to your dad. Great. Then you go and ask your dad for money. Then they bail you out. Then after they bail you out, you go back again. You go back again. You depleted their savings, they're done. Then you go to your siblings. Then you go to your next brother. Then you go to the next sister. You're asking everybody for money because you are irresponsible. Then you keep coming back to mom. Then you keep coming back, and then all of a sudden you hate everybody because they're not paying you anymore. Now you don't want to talk to them because they're like, well, you know, you didn't bail me out. You didn't bail me out. You didn't bail me out. You just stole half of your dad's money, your mom's money, because you've been begging them for so much money. That's what California is doing. So first they're like, no, California is a great state. Everybody moves to California. We have the best weather, we have the best. Everybody moves to California. Then people start creating jobs and all this stuff. Oh, my God. Start making money. Then they start raising taxes, gas tax, this tax this tax, that tax. So now we're going to put money into homeless. We're going to fix homelessness. Don't worry about it. $24 billion missing. Then you go to homeowners insurance. Well, homeowners insurance. Have all these other insurance companies come here and compete and whatever the market is, let them do it. Oh, you know what? We're starting to pay out a lot of money in California. Year over year over year, state of California becomes a red flag, red alert. And every board meeting of top homeowners insurance companies nationwide, they're like, dude, we got to do something about California. Raise the rates. Oh, regulators in California came and said, you can't raise the rates above this price. Then what are we supposed to do? Oh, by the way, they're forcing you right now. If you want to be able to get this business, you're forced to participate in this fair act, fair plan to insure these companies, and you're going to take a percentage of the risk. Wait a minute. I. I can't do that. This is what we're going to do. The government's here to always take care of you. And now California is coming back and saying, hey, we forced insurance companies out. We forced them to do a fair plan. We forced them to do this because we said, the government's going to solve your problem. Hey, we failed miserably. Guess who we're coming back to? You.
- [44:47]
Vinny
Oh, no.
- [44:48]
Patrick Bet-David
Taxpayers. You got to help out California.
- [44:51]
Vinny
Yeah.
- [44:51]
Patrick Bet-David
And people are saying, no, I'm not going to help you out anymore, bro. You can't handle yourself. You always want to go to siblings or family or people for money. I'm not giving you money anymore. Get your act together when it comes down to money. So then there's a falling out. All you care about is money. All you care about is money. California is saying that to all the other states and the government. But you're exposed eventually and takes 10, 15 years. Then everybody finds out you suck at handling money. That's what's going on with California. By the way, Rob, there's a clip I put in my notes if you can pull this off. There's something going on right now with New York. Bill O'Reilly said something I think everybody should watch. I'm going to play. I'm going to first read this story. Then I'm going to go to this clip.
- [45:28]
Vinny
Cuomo, Pat.
- [45:29]
Patrick Bet-David
It's unbelievable. Let me read this to you first. Here's what it is. Okay, so the story is. Rob, what page is that on? Let me see if I have the page. Is it an addendum? It's an addendum. Okay, so you're next. Dog files lawsuit against New York Hochul Letitia James over immigration. Okay, this is an NBC story and here's what it looks like. Okay. Attorney General Pam Bondi announced that the Department of Justice has filed a lawsuit against New York City. Hochul, Attorney General Letitia James and DMV Commissioner Mark Schroeder stating this is a new doj. Rob, if you have the clip of this first, then we'll go to Bill O'Reilly's this is a new DOJ and we are taking steps to protect Americans. New York has chosen to prioritize illegal aliens over American citizens. It stops today. The lawsuit challenges New York's green light law which allows undocumented immigrants to obtain driver's license and includes a provision requiring the DMV commissioner to notify them with when a federal immigration agency requests their information bonding warrants. President Trump has directed this to stop. And if you won't comply with federal law, you will be held accountable. We did to Illinois. Strike on Strike one. Strike two is New York. And if you are a state not complying with federal law, you are next. Get ready. Pam Bondi stood alongside Tammy Nobles and angel mom. Is this them talking? Did I just pretty much read everything she said?
- [46:50]
Adam Sosnick
Yes.
- [46:50]
Patrick Bet-David
Okay, so don't worry about playing the clip. So then by the way, she stands next to Tammy Nobles, an angel mom whose 20 year old daughter was killed in Aberdeen, Maryland in July 2022 by someone from El Salvador who entered the country illegally months earlier in Texas. So that's this. Watch what Bill O'Reilly says on this whole thing. And then he ties Newsom in California at the end. Just watch this three minute clip. Go ahead, Rob.
- [47:17]
Adam Sosnick
Trump wants to get Letitia James and Alvin Bragg. That's what this story is all about. Nothing else there. He went after Illinois because he wants to get. Pritzker hates him. And the way to do that is to deny the states of Illinois and New York the federal grant money. The New York Post reports today $8 billion is going to get held up by the Justice Department. That would have flowed into New York State, which is running an astronomical deficit here. Okay, so the easiest way to do this is to file civil suits against the governor and the attorney general. Then the question was, why is the mayor of New York left out? Because he doesn't matter. He doesn't matter. Trump wants to get Letitia James. Hochul is just an ornament. Doesn't have any bad feeling toward Hochul Trump, but Adams, the deal that was made, I don't know what Adams is giving Trump. I have to tell the audience up front. I don't know. And I don't use anonymous sources, but I have gotten call after call after call that said. And all of these people have agendas who are calling it. They all have agendas. All right. And they're saying that Adams knows where the bodies are buried with James and Bragg. Wow. Listen, just throwing it out for your consumption. I'm not reporting it to be true, but it kind of makes sense. Right?
- [49:01]
Rob
It's kind of weird that, like, you.
- [49:02]
Patrick Bet-David
Can say he has no power, but.
- [49:04]
Vinny
He'S in charge of the city.
- [49:05]
Adam Sosnick
And when they went after Pritzker in Illinois, they named Chicago and they went after mayor. I'm just saying, you know, if you're going after the city of Chicago, you name the mayor. No. Johnson and Adams had no power whatsoever.
- [49:18]
Patrick Bet-David
None.
- [49:18]
Adam Sosnick
They do what they're told to do. The real power lies in the state legislature. Now in both Illinois and New York, state legislature gives the big middle finger to Homeland Security because blank you. Maybe Anderson Cooper could articulate it a little more than I am by using some vernacular.
- [49:38]
Patrick Bet-David
Wait for it.
- [49:39]
Adam Sosnick
But that's what's happening. And the Trump administration knows that these mayors, this is like the utility infielder on the New York Yankees who plays maybe three innings a week. These guys have no power. They do what they're told to do.
- [49:55]
Patrick Bet-David
Wait for it.
- [49:56]
Adam Sosnick
The big power is Newsom in California. Newsom's next. Hey, Gavin, they're coming for you. Pritzker is going to get destroyed and Trump will bring down. And I'm going to predict it here. He will bring down Letitia James and Alvin Bragg because they went on a crusade to destroy him. And President Trump is not a forgiving man. Wow.
- [50:24]
Patrick Bet-David
Do you believe it?
- [50:25]
Adam Sosnick
Yes, I do. And I think what Bill O'Reilly has just done is gone past the headlines. One of the things I used to enjoy about Bill O'Reilly was the talking points memo, because I used to think it was very well thought out, and it was very articulate and specific and would take you as a viewer down the path to see what he's talking about. He's right. He's calling the current mayor. The mayors are ornaments. The real power of state legislature. The real thing is the governor. And so he's going after them. I believe that they're right. And by the way, this is not a revenge campaign. This was judicial activism illegally using the power of the judiciary and the AG to go after a political opponent. The Biden administration was completely complicit. Or it's one of the three. They either liked what was going on and didn't stop it. They instigated it, or they called the shot. You know, one way or another, the Biden administration was right there with Letitia James. Do you think Letitia James files those suits? If the Biden administration doesn't read it and say, yeah, I like it. You know, wait a minute. The fifth count there, kind of move it around a little bit. And Alvin Bragg, where he. Remember, we broke down how he turned three counts into 14 or whatever it was when he made, you know, every check was. Oh, you wrote the check, you signed the check, you processed the check. And each step he was claiming was a misdemeanor, grade three, which he rolled up to felony. Low level. Felony. Yeah. Guess what? That's. You know, you can't do that. That's militarizing the Justice Department. And guess what? It's illegal.
- [52:03]
Vinny
Yeah.
- [52:03]
Adam Sosnick
And they're gonna find out what they did was complicit, was conspiratorial. And in my opinion, that's what's gonna happen here. And what Bill O'Reilly is unpacking is how the. What is the method that's gonna go. And Pam Bondi, let me tell you, she means business. She means business. She might as. You might as well play the Darth Vader music.
- [52:24]
Vinny
I love. I love it.
- [52:26]
Adam Sosnick
Because she's coming for it. Because what these people did is they crossed the line.
- [52:31]
Vinny
And I think why they did it is because they thought, Tom, they thought that this plan, that the entire left. The deep. Whatever the hell you want to call them, it was all going to work. Let's try to destroy him. Let's try to say he was, you know, the R word. I don't even want to say it. That he did it with that crazy. What was that crazy girl's name? The. The blonde chick that told Anderson Cooper.
- [52:50]
Patrick Bet-David
That she thought rape was Eugene Carroll.
- [52:52]
Vinny
Eugene Carroll. All that. The. The Stormy Daniels, everything. Tom, if you're going all in as a prosecutor and as a ig, you were promised, like, hey, listen, we're gonna win. We're gonna destroy him. There's no way he's gonna win. And then there's an assassination attempt failed. They thought that they were. That they. They thought either Biden or Kamala was going to be president right now and that they were going to be fine. They had no idea that he was going to Win. They went all in. And I. This makes me so freaking happy. I hope it doesn't stop with them. It doesn't stop with Newsom and Fauci. I know the states are going to be going after him. It's accountability time. And we who have been behind this freaking movement for nine years, we deserve it. And I want to see it.
- [53:30]
Adam Sosnick
Do you remember the liberal media would sit there and say, do you think, is he going to prison? Is he going to prison? And they'd be up there talking to each other with orgasmic glee. You know, that they just couldn't wait for him to be there. Well, when he's sentenced, when he goes. And you would hear that word goes and what they were. They were thinking that he was going to be in prison and finding out now, some of those people you mentioned are the corner loan shark. He's going after Capone.
- [53:54]
Patrick Bet-David
Yes, yes.
- [53:56]
Rob
A lot of people think that Trump, you know, after he got shot, he sort of found Jesus and found God. He's become more religious. I actually think it's something a little bit different than I think he's on his almost Gladiator Maximus Decimus Meridius revenge tour, and he's just going to make everybody pay. I don't think this has to do with, like, I have a second chance on life and let me get closer to God and let me do all the right things. I think he's completely, and I mean this in a positive way, vindictive and wants to vindicate himself from everything that happened. I feel like he watched the movie Gladiator and it basically was like, my name is Donald Trump. Decimus Meridius, commander of the legions of the or of the north and the true servant of the true emperor, Marcus Aurelius, a husband to a murdered wife, father to a murdered son, and I'll have my vengeance in this life or the next. And I feel like he's just going after.
- [54:49]
Vinny
And, and, and you know what? That rightly so. I mean, think about, think about what he's gone through for the past almost nine years from Obama and all those, you know, deep state spying on him and Russia collusion and the impeachments and like, I'm. That's just three of them. There's so many of them. He deserves it. I know. People are like, well, he shouldn't be, and he should be above it. No, no, no, no, no, no. You tried to destroy him and it's retribution time. It's payback he could do. And people are like, he should be worried about running the country. No, no, he's running it just fine. But you know what? Now he's going to go back and turn around and be like, you tried to destroy me. You tried to destroy me. You use Lawfare. And he's going after everybody. And it makes me feel good that he's not. He wasn't just talking about it. He promised it. And he's doing it, by the way, justice.
- [55:35]
Adam Sosnick
And they're scared.
- [55:35]
Patrick Bet-David
But let me just say this to you guys. Let me just say this to you. I cannot tell you how monumental November 5th was, because if Kamala would have won, none of this stuff would have happened. Rob, can you go to YouTube? I'm going to send you this clip. If Kamala would have won, you would have heard things like this. This is a clip of if you go and type in Letitia James on YouTube, okay? And then type on the top right, filter views, go to Letitia James. And then click filter. Go to views. Okay? And just watch the second one. That's from a year ago. Three and a half million views. Go ahead and play this clip. Rob, can you put the audio? Yes. Play this clip. Watch this one. This is a year ago. Oh, shoot. Yeah, it's fine.
- [56:26]
Vinny
Just.
- [56:27]
Patrick Bet-David
Just called me venomous. He's called me disgraceful. He's called me radical. He's called me a racist. And this is only week three. None of his behavior, which can best be described as performative, will change what's happening in the courtroom. The courtroom, as you know, where we have submitted evidence and the evidence is clear and that. That is he inflated his statements of financial interests to enrich himself and his family, Biden. And nothing will change that. Not the attacks on me or anyone. You can pause this when you go back and look at the highlight reel when she first came out and she says, we are announcing a lawsuit against Trump. There's Rob, if you find some of these. And we remember when we watched this and how they were like, we are not going to stop until. And papa pah. And everybody is watching this stuff, right? If Kamala Harris wins, every one of these things would have been pursued and they would have convinced the populace that he is a criminal. He is this. He is that. They would have not stopped till the very end because they would have controlled it all. Look. Look at the way she's speaking here. People forget this. This wasn't too long ago. Go ahead, Rob.
- [57:41]
Rob
Comprehensive three year investigation by my office.
- [57:45]
Patrick Bet-David
Including witnesses, interviews with more 65 witnesses, and review of millions of documents that were submitted by Mr. Trump and others. I am announcing that today we are filing a lawsuit against Donald Trump. You can pause. This is all the stuff we were watching. No, I'm telling you, Vinnie, I'm telling you, if Kamala would have won, this is a very different America. This is a very different country. This is a very different climate. If Kamala would have won, Google and Facebook are not given the million dollars to Trump and all that other. If Kamala would have won, the climate would be very, very different. That's why November 5th, every single person from the smallest, you know, guy that sat there talking to their cousins and brothers and all that stuff, Adam stopped. To the people that are running a podcast, to others that are doing whatever they did to get. November 5th, you went out there and stood online for a few hours to vote. Every one of those people, you. I can't. You have to be so proud of yourself because we were about to witness a shit show for four years. Life was going to be very, very different. There would have been no accountability. And so then we would have waited till 2028, which most likely the establishment Republicans wouldn't have been behind Trump because they would have said, at this point, you can't win. You already tried twice back to back. And that argument would have convinced people to step away from him. The fact that this took place and this is happening, this is great for America for us to find out what really happened, who was playing games. Everybody just wants simple accountability. That's really all it is. Very happy to see what they're doing here. And I thought, you know, Bill O'Reilly's breakdown was spot on. Let's see what happens from here. Next story, gang, for many years, we've been told there was only one shooter. For many years, John F. Kennedy assassination. No, no. There's one shooter. You guys are delusional. There's only one shooter. You're crazy. Oh, my God. You guys are just following all these stories and movies. Stop it. Stop watching Oliver Stone and stop watching this and stop watching that. MAGA Head of JFK files Task force claims there were two shooters. Okay. And this is. I want to say her name properly. Anna Paulina Luna. She does phenomenal work. Launched a task force on the declassification of federal secrets along House Oversight Chairman James Comer declaring, I believe. Well, I'll let you watch it for yourself. Go ahead, Rob. What's your priority list?
- [60:17]
Adam Sosnick
Because Epstein, 911, our first investigation will be announced, but it's going to be covering on a thorough investigation into the.
- [60:25]
Patrick Bet-David
John F. Kennedy assassination.
- [60:26]
Adam Sosnick
And I can tell you, based on what I've been seeing so far, the.
- [60:30]
Rob
Initial hearing that was actually held here.
- [60:32]
Adam Sosnick
In Congress was actually faulty in the single bullet theory. I believe that there were two shooters. And we should be finding more information as. As we are able to gain access into the skiff, hopefully before the files are actually released to the public.
- [60:46]
Patrick Bet-David
Vinnie.
- [60:46]
Vinny
Okay. And I've been. I've been Besides Oliver Stone's JFK, the movie, which I've probably seen, no joke, maybe 15 times. So accurate, so much details.
- [60:57]
Adam Sosnick
Back into the. Right.
- [60:58]
Vinny
Back into the. And just doing all your own research with your own eyes. Okay? And then. And then watching that video. And I'll send it to Rob after we all break it down, where Secret Service is running by his car, and he's about to go down Dealey Plaza and he's called off. I got goosebumps back. They're calling off Secret Service because when you're out there in the open in a pretty dangerous place, which is Dallas, which you've gotten death threats, you release everybody because there's supposed to be a human being running just to be able to stop the shooting. And as a, As a marksman, as an expert in the rifle, there's no way that Oswald, with the pump, there's. There, it's. There's no way. And we all saw as it's going because they slowed down. This is the video right here. Look at this. While I'm telling the story, look at. These guys are called off of protecting the President. Even the Secret Service guys. Like, wait, what you. And then look at this. Leaving him going completely naked out there with no protection. Pat, they're supposed to be running by the vehicle. So then seeing the video and then seeing him. Him getting shot once in the throat, and you see him, like, asking for help, and then Onassis comes and gets to his aid, and then his head goes backwards. And they proved in a court of law in the United States, a magic bullet theory. And if you haven't seen it, they're saying, Tom, that a bullet came in, hit him, hit the governor, spun around and came back. And as you guys all know, the word magic is make believe. It's fake. The fact that they called it a magic bullet theory, and I just can't, I cannot wait for. And again, you talk about accountability, vindication for people like us that have been saying it forever. They have been lying to us. They lied about the Gulf of Tonkin, they lie about this. They lied about 9, 11. That's all they've done. Is lie to us. And this is the main reason, Pat, that people like Trump and people like Elon are such a threat to them because they're messing with their money. This is. Tom, what was this? He went up against the. The military industrial complex. What is that doing? You're messing with people's money, and they shot him in the head. What Trump is doing right now, what Elon's doing right now and what he's suggesting with the Fed is messing with their money. And it's a dangerous game that they're playing, but I think it's a game that has to be played, period.
- [63:05]
Patrick Bet-David
Tom.
- [63:07]
Adam Sosnick
You know, I'm looking forward to this, and I'm glad that she's on it, and I want to see the stuff coming out so that all of the theories, not just theories, there are some real informed research that was done. But I think that much of that research is going to be validated. Absolutely validated. And we have seen, you know, it's not Oliver Stone, you know, theatrical, making a theatrical interpretation of what was going on with Garrison, the character. It's also looking at common sense from men who have served on the battlefield, that have served at the police departments, that have served with ballistic saying, you can't cause the President's wound, the head wound, the kill shot from above and behind him. And it's just. We've all known that. That's a simple fact. You can't do that. Well, then where'd it come from? Now you have all the theories, oh, the CIA was over here, the guy in the grass, you know, But I am very, very happy that it's starting to come out. And we've also heard, you know, you know, things coming from others over time, and people that have. That have said it, you know, saying, well, it's not a who, it's a what. You know, what. What. It was an agency or it's a group, and I'm very glad that it's coming out. And she just stood there and said, you know, from what I'm seeing, there was two shooters, which we have forensically understood. We just want to know who are the two shooters? Is there documents in the Kennedy files that would indicate who was or who called or who paid or who placed?
- [64:41]
Vinny
Yeah, but my problem is, okay, they've always known. They've always known. Why keep it from the public? That's the. I mean, we know, but what's the reason? Who was that guy? So, I mean, that. That means they brought it to court. They all freaking lied. All these witnesses, witnesses Showing up dead. They've been lying to us. They keep lying to us. And it pisses me off is when we find out who that person is. Tom. Because I believe that they might have been even more than that guy. I think there was multiple people. I think it was a triangular position and maybe even some of them had blanks. So at the end of the day, no one is actually at fault. And nobody knows, nobody can say why definitely did it. I had blanks in my gun. I want to know who.
- [65:19]
Adam Sosnick
That's the firing squad theory. Is that one. One out of seven men on the firing squad has a blank?
- [65:23]
Vinny
Yes.
- [65:24]
Adam Sosnick
So you can always think, maybe I.
- [65:26]
Vinny
Didn'T so you could sleep at night.
- [65:27]
Adam Sosnick
I did my duty, but maybe it wasn't me.
- [65:30]
Vinny
Pat. This is my thing. There's another shooter. Who did he work for? And who told him to go there and who told it to cover it up? That's the problem.
- [65:38]
Adam Sosnick
That's what I look forward to, is finding out the who behind the second shooter. Because I don't think there's a question.
- [65:43]
Patrick Bet-David
Which of the two are you more interested in this or Epstein's list?
- [65:47]
Rob
Epstein's list.
- [65:48]
Vinny
Can I be honest with you?
- [65:49]
Patrick Bet-David
Yeah. They.
- [65:49]
Vinny
If JFK. You know why? Because that to me, besides 911 is the worst moment in the history of the United States. They murdered. Murdered a sat. Whatever you want to call it, the sitting President. Meaning that if it's true, the CIA, all these guys, Lyndon B. Johnson, they all colluded to kill him. To hell with treason. It just sucks because none of these people are alive. Back. They kept it, held it for all these years. Everybody's dead. We're not going to have any accountability. And if it was a CIA, what's going to happen? The CIA.
- [66:20]
Rob
That's why I.
- [66:21]
Vinny
That's the problem.
- [66:21]
Rob
I was a little bit more prone to wanting to know what's on Epstein's list because. Yes, is. Is the assassination and murder of a sitting US President jfk, important? You bet your ass it is. However, whatever happened with Epstein, these people are walking around, what's going on? What did they do? Illegal. Who was this guy? What happened? Where are these people? This pedophile island? But yes, this is important. I'm not downplaying the. Yeah, how important? But you know, you know what I find interesting? Under the. The Trump administration, this is going to be coming out. Hopefully, we'll see. I would love to know what the Democratic wing of the Kennedy family these days, other than basically jfk, would they owe him a debt of gratitude? Would they say thank you. Do they want to know what's going on? Like, would they at least admit, hey, you know, we're not the biggest fans of Trump or a Democrat legacy family. But thank you for shedding some light of exactly what happened in this situation right here. So I'd love to see what happened with that.
- [67:20]
Vinny
But this. But this was the first bit like this. I get the Epstein thing and trust me, anything with children, I'm 100% all in. You know, that's a hill that I would die on. Freaking fall on the sword, all that. But this is one of the first ones. This is the main one. Assassinating a sitting president. And if these freaking agencies were involved.
- [67:39]
Rob
So go. So go down the path here. Okay, so it turns out there was a second shooter and it was involved in the CIA or something.
- [67:46]
Vinny
Yeah, whatever.
- [67:47]
Rob
Or it was the mafia. What then? What do you do then be like, I told you so?
- [67:51]
Vinny
No.
- [67:52]
Rob
Everyone knows that there's some sort of foul play going on here.
- [67:55]
Vinny
But we have to know the truth would change what would actually changed the CIA was involved. Adam, guess what happens to the CIA. You're going. Bye, bye. You can't be you. You were CIA.
- [68:04]
Rob
He's not going by.
- [68:05]
Vinny
What do you mean? Hold on. Okay, so let me. Let me put it back to you. You find out today. Hold on.
- [68:11]
Rob
Let me. The point is, Let me spend 75 years.
- [68:14]
Vinny
I don't. I don't give a. If they. But the organization killed us.
- [68:19]
Patrick Bet-David
You're saying. You're saying you have little interest to find out the truth about what happened 62 years ago.
- [68:25]
Rob
That's not what I said. I didn't say I have little interest. I said that I. I have what's going on. On Epstein. You asked the binary question. What do you have more interested in Epstein or jfk? Yes, I have interest in this.
- [68:36]
Patrick Bet-David
But.
- [68:36]
Rob
But it's not like any of these people are even alive.
- [68:38]
Vinny
100. But guess what happened to Donald Trump a couple months ago, Adam. They shot him.
- [68:42]
Rob
Yeah. I'd like to know those. What happened with that as well.
- [68:44]
Vinny
Ready for this? They. And this is again, as a shooter. I'm not freaking showing off the cockiness. I don't think it was crooks. This is me personally. The guy had six cell phones. We know nothing about him. That Luigi Mangioni, that guy. In three hours we knew everything. He might be gay. He might be. This the fact that we still don't know about that guy. Okay. And. And as a shooter to shoot somebody and try to go for their head that is a cocky shooter. Because as a sniper, when you're trying to shoot, bro, you're shooting center mass, whatever your front sight or your dot, you're here, Adam, because no matter where you're breathing, whatever, even if you hit Trump here, here, here, here, he's done. He's 78 years old. He's not going to survive. This person was trying to do. Because when you shoot somebody here, that's trying to send a message to the world. But God intervened. And that's why, Pat, you nailed it that November 5th. This movement, saving humanity, we are living in such an amazing time that I believe God said, now's not the time any. And he stepped in. That's divine intervention for that. Yeah.
- [69:43]
Rob
Map.
- [69:43]
Vinny
The chart. The chart.
- [69:45]
Adam Sosnick
I believe in the simplicity theory, that even in the deepest conspiracies, you have simplicity. And I think it's very simple. Our government has been trying to spin the minds of its populace, its citizens, for decades, centuries. And to keep the mind going, to keep MKUltra, to keep things going to spin. You can't admit to the Kennedy thing because you can't have transparency and have the public saying, well, you know what? Maybe they're just lying to us, just like Kennedy. So you can't have. You can't legitimize that. You can't put that out there because you need to keep the secrecy and the spin to brainwash the citizens tomorrow. And you can't go back and say, okay, look, we're sorry, Vietnam War. You know, we did this thing and we were drafting mostly African Americans. Yeah, we did it. CIA killed Kennedy. All those people are gone. Allen Dulles is gone, but we named the airport after him. And. But, yeah, we did it. They can't do that because you can't have the citizens able to say, had to have legitimate doubt.
- [70:53]
Vinny
Paul, I don't know your thought. What's your thought on there? Probably being another shooter. Them. Them. If it's true, lying to us, the CIA involved, all that type of stuff. All that. What? Because I know you're passionate about it.
- [71:05]
Adam Sosnick
Yeah.
- [71:05]
Vinny
You know exactly what they do.
- [71:06]
Patrick Bet-David
Let me tell you. You know, when. When you go into relationships that you have in your life, life yesterday, we're sitting there with a few of our business managers that we have, and we're spending more time with middle management. We're having a conversation about who typically ends up moving up, getting promotions, what happens with them. Okay. And what qualities we value. Okay. Trust, you know, somebody that can deliver, somebody that keeps their word, somebody that's Reliable. And in your community, as you age and you have family, kids, peers, you want your kids to be surrounded by men and women who are like that. Okay. Then people you do business with. Okay, People you do business with, companies you do business with. You size up all the partners and vendors and you want to trust what they're saying. Okay, you want to trust what they're saying. You want them to tell the truth because you want to be able to continue doing business with them. They don't have any issues with them. Right. Okay. How many people you think want to believe CIA? How many American people, what percentage do you think would like to believe what the CIA is saying? Like genuinely wish genuinely want to believe them?
- [72:20]
Vinny
I mean, the majority of them, all of them? I would say everybody.
- [72:23]
Patrick Bet-David
Okay. How many people would like to believe that what the government is saying, they're being straight up and it's the best interest of the American people.
- [72:30]
Vinny
All of us are going to hope.
- [72:31]
Patrick Bet-David
Okay, they want that. That. Yeah. They want to experience that. Because then, you know, there's credibility, accountability, trust, execution. Things move faster. The higher trust is, the lower trust is. Things move slower, things get executed slower. Right now, trust is low. And the reason why we're moving so fast in the first few weeks is we have an operator that's driving the hell out of everybody and all of them. Glenn Beck put it the best way. Team of rivals that are willing to work together to increase the credibility of our nation. And you got to give credit to that. That's what I'm excited about. I want our credit score as a country to go up where we can believe what they're saying. We're never going to be at a point that you're going to believe 100% of them. Never. I'm not expecting nobody has a hundred percent credit score when they're financing something. Everybody has had a late or something like that. But guess what? When you're financing at a bank, you want a 757 60. You like to see a lot of 800-00, but you're willing to entertain 760s. I want our government score right now, as of two months ago, was probably in the 450s, nobody trust. What can you finance with a 450 credit score? Nothing. Nothing. You got to increase your credit score. That's my interest. Okay. All right, so next story I want to get into is which one should we go here with this one? Let me go into da da da da da ba ba ba ba ba. Yeah, let's go into this one here. So billionaire Hedge fund guru once Trump's tariffs warns Trump's tariffs are harming us okay, this isn't just anybody saying this, by the way. This is Ken Griffin, founder of Citadel and a Republican supporter warned that Trump's tariffs create an uncertainty and chaos that hinder economic growth, making it difficult for multinationals to plan long term. Speaking at a UBS Group conference, he criticized Trump's bombastic rhetoric, stating it sears into the minds of CEOs and policymakers that we can't depend upon America as our trading partner. Griffin, who has donated millions to the Republicans, but not directly to Trump's campaign, believes tariffs could increase the US Deficit and make domestic companies less competitive and productive. Trump's tariff policies are causing businesses to struggle with supply chain and pricing, with Griffin pointing out that Canada's energy sector may now turn to China Instead of the U.S. trump imposed 25% tariff on steel and aluminum imports without exceptions or exemptions and 10% tariffs on all Chinese good while threatening Canada and Mexico. Griffin warns that these moves could force US Allies to form new trade alliances, saying the damage has already been done. Tom, do you agree with them?
- [75:11]
Adam Sosnick
It's hard to disagree with Ken Griffin argument, the way he's putting it, but I think also he's getting out in front and what he's getting out in front on is about the disruption. The market jumps up, the market jumps down. The market jumps up, the market jumps down. But the market hasn't had permanent change related to tariffs, nor have we had economic statistics that we can point to related to tariffs. But we have had a market that's been jittery, a stock market. Okay, well he's saying that's uncertainty and chaos. Okay, Ken's right. And he says planning for long term, what does a hedge fund manager want? A long term predictable market so they can make their hedge bets. So he's in the business of doing that. So you could translate it this way. Hey, my business needs a little bit of stability and long term point of view that helps me run my business. My business is pretty effing big and I touch a lot of this economy. So I would imagine you all want me to have a long view and some predictability. That's part one and then part two along with the long run and predictability. What Griffin is saying is, hey, you don't want any of this temporary stuff to cause someone to make a spontaneous decision about a trade partner. You don't want them to think, oh gosh, this stuff's going to be bouncing around for a while. They're going to make different decisions. What he's really saying there, I don't think he's being completely altruistic about the United States. United States. I think what he's saying there, hey, I'm making hedge bets and I know who the bets I make, who they're depending on for suppliers, I know who they're depending on for partners. And if you mess that up, it's like suddenly telling me there's 61 cards in the deck rather than 52. Ah, crap. What are the other 11? Is there more aces, more jacks, or a bunch of twos and threes? I think that's what it is. So I don't disagree with Ken Griffin at the core. However, I think when you break it down, what he's really saying is that in the short run, you're bumping things up and you're saying a bunch of things. I don't want people to make long run decisions based on short run chaos. But I think deep inside, Ken Griffin knows what's going on here. He knows exactly that these are tactics, not taxes, for the long term. But he doesn't want people to make short term decisions that affect him.
- [77:36]
Rob
Adam, I think Ken Griffin's sort of spot on and we're all rooting for Trump. We all want the best for the country, all want to know what's going on. But it's almost like the yin yang theory. What goes up must goes down. It's. Everything's interdependent. So if you're going to do things and from a negotiation standpoint, to throw off foreign governments, whether it's China, whether it's Canada, whether it's Mexico, you know, withdrawing from the Paris climate accords. Withdrawing from who? Everything you're doing with tariffs, you're going to create uncertainty for foreign governments. That's great. But you're also going to create uncertainty for domestic corporations and consumer sentiment. So just like you're throwing people off with a negotiation tactic from a foreign standpoint, you're also going to throw people off from a domestic standpoint. So like Tom said, the markets like certainty and they like predictability. There's something called the vix, right, the volatility index, which basically shows, like, how crazy is the world going right now? Is the world certain? Is the world uncertain? We know about the Fear Greed Index. But while you're negotiating with these foreign governments and, and over tariffs, there's a lot of domestic corporations and companies that are like, all right, like, well, we don't know what to do because they need to price in future risks and price in future tariffs, and they're not necessarily sure what to do from a consumer standpoint. People like stability, people like clarity, and there might not be a lot of that right now. So basically, if you're disrupting foreign governments, you're also disrupting some of the domestic.
- [79:05]
Patrick Bet-David
So, so let me take it. Yeah. Let me tell you on, on a part where I don't know if I agree with Ken Griffin and, and here's the part, okay. For me, common sense, when you think about the keyword retaliatory, reciprocal tariffs. What is a reciprocal tariff? Rob, if you can pull up this New York Post story that came out. So if somebody. Vinnie, you don't have to be a business expert. You don't need an mba. You don't even need to be a business person salesperson. You can be any average person. If somebody has a 10 tariff on you, but you have zero tariff on them, is that fair?
- [79:43]
Vinny
No.
- [79:44]
Patrick Bet-David
What should the right number be?
- [79:45]
Vinny
10 and 10.
- [79:46]
Patrick Bet-David
10 and 10?
- [79:47]
Adam Sosnick
Yeah.
- [79:47]
Patrick Bet-David
Okay, cool. If you're going to charge me 10%, I'm going to charge you 10%.
- [79:50]
Adam Sosnick
Why not?
- [79:50]
Patrick Bet-David
Is there anything wrong about that?
- [79:52]
Vinny
Absolutely not.
- [79:53]
Patrick Bet-David
Now, what if I've been doing 10 on your country for the last 30 years and you've done zero on me to make up the last 30 years of me only putting 10 on you and 0 on me? Is it fair for you to do 20 on me for a few years.
- [80:05]
Vinny
To catch up 100%?
- [80:06]
Patrick Bet-David
That's something you can debate. Yeah, but what I'm saying is that's something. You don't need a degree to process that.
- [80:12]
Vinny
No, and I don't.
- [80:13]
Patrick Bet-David
Yeah, that's.
- [80:14]
Vinny
I've been associates, but still.
- [80:15]
Patrick Bet-David
So. So if you read the Trump. To impose reciprocal tariffs is a bold move. Why is it a bold move? Here are the possible risks and rewards go a little bit lower. I don't even understand why they're saying it's a bold move. They're terrifying you. You shouldn't do it to them. Reciprocal. Well, what do you mean a bold move? I don't even like the word bold in that title. It's a very straight up move. The idea is straightforward. I agree. If another country imposes a tariff on American products, the US Will respond by applying the same tariff to that country's goods. Common sense. The strategy is intended to create a fairer trade environment, but could also escalate tensions and potential, trigger a new terraform. Why would it go go? Why? Why would it do that? The European Union currently placed a 10 tariff on cars imported to us, whereas the US only charges two and a half percent. Why?
- [80:58]
Rob
Why?
- [80:59]
Patrick Bet-David
Why? I don't know. Give me the seven and a half. So. So you get to send your BMWs, Mercedes, everything. We got to pay that 10 points. But we send our Ford, we send our GMC, we send all that. We don't. We only do two and a half. The goal of Trump's reciprocal tariff is to eliminate these imbalances. I agree. So I'll be announcing, by the way, what if Europe eliminates the 10%, brings it to zero. Different kind of a conversation. I'll be announcing that next week on reciprocal trade, so that we're treated evenly with other countries. We don't want any more or any less. Trump told reporters in Oval Office. Fair. I agree. The President added that he planned to hold a press conference on the matter as well as a meeting on this show either Monday or Tuesday. Trump's indicated on Friday that reciprocal tariffs might replace the proposed 10 or 20% universal import duties. That was a key part of its economic. By the way. Which, by the way, people should be happy about that because 10 or 20 means what? It's blanket. Reciprocal is not blanket. You know what reciprocal is. So If I say 20% on everybody but you don't tariff me. Come on. Yeah, you know what I'm saying. But if I say, what do you impose on me? 15%. 15 back. We're at 7. We're going to 15. No, no, no, no, no. Then lower your 15 to 7, because that's what I'm making. So then maybe BMW cars will be cheaper for us. Go ahead, do it. Lower it for us. Right. And $80,000 car is now $72,000. We'll take that 7,000, $8,000 savings. So he stated that he was leaning towards implementing mostly, mostly reciprocal tariffs rather than broad import duties. Trump announced on Sunday that he is set to implement a universal 25% tariff on all imports of steel and aluminum. That's all great, Tom, go for it.
- [82:35]
Adam Sosnick
You know what I think? I think there's also something here people forget about. For those of you that went through it, do you remember the day that you had to stop spending on your credit card? You were up at your limit and you had to stop. It's painful because now you were living a lifestyle. You were spending on things, you were doing things you had to stop. The day you said you're going to stop drinking, your body is reacting. That's hard, that's physical. What Pat was talking about is things have been going on for years, even decades, and now they have to stop. If anybody thought this was going to be a painless procedure, here you're not. You've had a pain in your side for a while, pain in your side for a while. You finally go to the doctor, doctor says, you know what, I'm detecting a tumor here in your abdomen. We got to give you chemotherapy, we got to take tumor out. You're going to go bald. It's going to be painful. That's the price you got to pay for the correction. And right now, what people need to understand and you don't need a college degree, we have been manipulated in so many ways by other countries with their products. And we're saying it's stopping now. But the process to change it is not easy. You got to negotiate with these people. And if they won't negotiate, you say, here comes my tariff. This is what I'm gonna do. Get ready. I'm gonna be reciprocal with you. The other side screams loudest when you hit the target. And that's exactly what Trump is doing right now. He's hitting the target. And this is painful. It is not easy to undo this stuff. So you have to remember, America, you had cancer, you had import, export cancer, you didn't know it. And now to get through it and to remove the tumor of, of unfairness from the other side, this is a negotiation.
- [84:20]
Patrick Bet-David
Yeah. Rob, can you check to see which countries tariff us the most? Let me give you an idea what happened yesterday. I'm talking to a business owner who's in a construction space in Western Australia. One of the clients we consult for at Bay David Consulting. You can go to baydavid.com to learn more. So I'm talking to this guy and he says, I'm trying to compete for the other business, but I can't because my clients, my competitors that I'm competing with are non union. And I do union work. And so union work causes my cost and labor to be 20% higher. So I said, okay, so how are you competing with? I said, your competitors, what percentage of them are non union? 90%. I said, so does the quality of union, when you do the work, is it better than non union? Not necessarily. So why are you union? And so he says, so let's just say somebody places a job that's $400,000 and you're non union, I have to charge what, 480 because I'm what, hiring union. And union has stipulations. If somebody works after eight hours on the ninth hour, 25% increase. On the tenth hour, another 25%. On the eleventh hour, another 25%. So a person making 30 bucks an hour in the eighth hour, for example, is, you know, 3750. Okay? On the tenth hour, it's 45 bucks. On the. You understand what happens eventually on the 12th hour, you're making 60 bucks an hour. So guys like, you know, construction, sometimes we work late. What do I do with this? I said, well, as a client, I'm almost always going to go non union. Why would I pay that additional 20 points? So how do you compete? So what's the point? So what's going to happen on some of these items that tariffs are put on and prices on those items go up, up? It may cause Americans to buy more Ford, it may cause Americans to buy more gm, it may cause Americans to buy more Chrysler. It may even cause some of these guys who are Mercedes and BMW to produce their cars here. And those cars may be cheaper than the ones that they're shipping to us from Europe. It may cause that. But to get to that, it's two years of a lot of pain. And here's my concern, here's my concern, why they have to move so quickly? Because if they drive tariffs as hard as they do and within a year and a half, it doesn't produce the results that they want and the offset of lowering taxes doesn't make Americans happy enough, it will be a bloodbath in two years at midterms. Let me say that one more time. If we have to do this, I'm convinced we have to go this route, but I think we need four years for this to work. I don't know if it's going to happen in 18 months. If they go this route and you go like this on the knob with tariffs, right, you have to go like this on taxes and regulation to offset each other. I don't know if you understand what I'm saying. So if I go tariff like this, taxes like this, dude, okay, you're choking, right? But if I go like this too much, it's also too loosey goosey, you spoil everybody. 0% interest rate. So it's a lot of fake success. You don't want that. I think it's got to go like this. You go tariffs higher, you lower taxes, regulation. So this place is a little bit loose. Money's being reinvested, IPO market goes a little bit higher. Guys are starting to put $5 billion, a billion dollars, half a million dollars into new business being started and then all of a sudden these guys are going to be like, oh, we just threatened us. And they're realizing they don't need us anymore. Hey, we were kidding, we were kidding, we were kidding. But they have to do it fast, before midterms. If after midterms, they take control. Now you got a gridlock now. Nothing's going to get done in the last two years. It's really only a two to two year term. That's my concern. So, I don't know, we'll see what's going to happen. Speed will be critical. That's why this is called the year of surprises. And the three words in 2025 are speed, product, signal. Speed, product, signal. That's the key.
- [88:08]
Rob
I think you just taught me something, and I think he just taught the audience something. So, like, Trump is basically DJing the economy right now. So you got the treble and you get the base right here. So he's basically saying, hey, America, get ready. Things are going to cost a little bit more. You know, Tom said, basically, you're going to have to go through a little bit of pain. What's the pain? Paying higher prices. So how can we offset that? With the dj, dj, PBD out in the house, we're going to lower the base a little bit, AKA your taxes, and we're going to increase the treble out here right now. So this might be music to your ears. Trump is a brilliant marketer. He has to basically make the people understand one thing. Be very clear. I'm going to be raising tariffs. It's going to raise prices, but I'm going to be lowering your taxes to offset this. It's a messaging campaign. If he can convey the message to the American people, hey, need you to go out there and buy American. Need you to have an American pride. Get out there and buy American. Remember if you remember, like, X amount of years ago when we, we wouldn't eat French fries.
- [89:06]
Vinny
Yeah.
- [89:07]
Rob
It was like, we're calling freedom fries now. No more French fries. Freedom fries. Everyone was like, okay, I guess we're not eating French fries anymore. But the messaging was understood. All right, we gotta, we need some freedom.
- [89:19]
Vinny
Yeah.
- [89:19]
Rob
That's what Trump needs to convey because I think most people don't understand what the hell's going on with these tariffs and that. I think that's what Ken Gifford is sort of alluding to.
- [89:26]
Patrick Bet-David
Yeah.
- [89:27]
Rob
So if we understand, like DJ PBD over here, turn up the treble, a little bit of bass like Warren G, I think we're gonna be all Right.
- [89:34]
Patrick Bet-David
Just hit the east side on the LBC.
- [89:36]
Rob
That's right.
- [89:37]
Patrick Bet-David
Mission trying to find us, Mr. DJT. Yeah. Seeing the car full of girls, ain't no need to.
- [89:42]
Rob
That's true. No needs to trip.
- [89:45]
Patrick Bet-David
All right, so it is what it is.
- [89:46]
Rob
See what's up with 12, 13.
- [89:47]
Patrick Bet-David
Let's go, guys. So hooks are left on two one, and Lewis, some brother shooting dice.
- [89:51]
Vinny
So I said, let's do this.
- [89:52]
Patrick Bet-David
I said, what's up? Okay. Anyways, all right, so let's.
- [89:55]
Rob
Guys, we could do this thing all day.
- [89:56]
Patrick Bet-David
Don't get distracted. Stay focused. Stay focused. All right. Border czar Tom Holman accuses FBI of leaking information about ICE raids. Lives at risk. But Tom Holman's also not. He's a little bit not satisfied with the numbers of ICE arrests. What I do want to bring up with this, that's kind of a little bit. Rob, which clip is that? Is that the one that he's not happy about? The numbers so far?
- [90:19]
Rob
Yeah.
- [90:19]
Adam Sosnick
So I have three Tom Holman clips. The first one is him saying that the FBI leaked information about the raids. The second one is him saying he's not satisfied with the ICE arrest. And then the third one is his.
- [90:28]
Patrick Bet-David
Message to the Pope because the Pope said what? He's just not comfortable about it and all this other stuff. Right. Okay. Go in the order that you have. Go for it.
- [90:37]
Adam Sosnick
Tom Holman. Tom, where are these leaks coming from? Well, look, we think it's coming from inside. And we know the first leak of Aurora is under current investigation. We think we identified that person under investigation right now.
- [90:53]
Patrick Bet-David
The.
- [90:54]
Adam Sosnick
The California League secretary, Noam. You know, she's correct on some of the information we're receiving. Tends to lead toward the FBI. But I talked to deputy Attorney general all this weekend. They've opened up a criminal investigation, and they have promised that not only this person lose their job and lose their pension, they won't go to jail, they won't criminally prosecute. So we're all over it.
- [91:18]
Patrick Bet-David
We got. Okay, so that's that. He's saying it's an inside job. Somebody's leaking information. They got to find it. Okay, this one here is responding to the numbers. Go for it.
- [91:31]
Adam Sosnick
I'm not the rest. If you look at the arrest of the Interior Enforcement, about three times higher than, what, a year ago today. Three times higher is good. But I'm not satisfied. There's more criminal aliens that need to be arrested.
- [91:44]
Patrick Bet-David
Hundreds of thousands.
- [91:45]
Adam Sosnick
Sanctuary cities are putting roadblocks up. We got leaks, so we need to increase those.
- [91:50]
Patrick Bet-David
Just Stop right there, Rob, and then go to the last one here with the Pope, you know, taking some shots at him, and he responds. Pope Francis rebukes Trump's mass deportation efforts. You know, Pope is out there. Let me read this to you. What is built on the basis of force and not on the truth about equal dignity of every human being begins badly and will end badly. In a letter to American Catholic bishops, he stated, the rightly formed conscious cannot fail to make a critical judgment and express his disagreements with any measure that tactically, tacitly and explicitly identifies the legal status of some migrants.
- [92:31]
Rob
Okay, so with criminality.
- [92:33]
Patrick Bet-David
Yeah, with criminality.
- [92:35]
Rob
Some migrants. With criminality. Basically saying criminal migrants.
- [92:38]
Patrick Bet-David
Go for it, Rob. Here's how he responds towards children. Look at how this works for the Pope.
- [92:43]
Adam Sosnick
Pope want to fix the Catholic Church. I'm saying this as a lifelong Catholic. I was baptized Catholic. I was the first communist. As a Catholic. Confirmation of the Catholic. He ought to fix the Catholic Church and concentrate on his work and leave border enforcement to us. He wants to attack us from securing our border. He's got a wall around the Vatican, does he not? So he's got a wall around protect his people and himself, but we can't have a wall around the United States. So I wish he'd stick to the Catholic Church and fix that and leave border enforcement to us.
- [93:09]
Rob
Mic drop.
- [93:12]
Vinny
Common sense. Like, what are we even talking about? He got him.
- [93:16]
Patrick Bet-David
Tom, your thoughts?
- [93:19]
Adam Sosnick
I think Tom Homan is a beast, and I think he's exactly who we need. I'm a little bit nervous on one thing. Hiring contractors to go out there. It is one thing to hire some contractors and say, hey, go look at Glassdoor. Go look at Yelp for me. Go look at Google. Is there a positive or negative reference about my company and what is being said in that? Maybe. Do we need to do things in HR and to take a look at ourselves? Is there an opportunity to learn here and then we can do that. American companies do all that a day, and there's services that you can subscribe to so you can see what's said about your company and maybe you find out that you have some blind spots, you got some things you gotta fix. But when you go over and say, you know, as well as looking for contractors that could perform personal identification of who is saying it. No word. Not just sentiment. Not just like, it's 78 degrees out there. You know what I mean, Vinny? 78 degrees. But who caused it to be 78 degrees? That's different. That's different. And then including asking which contractors could use PC cameras and find facial recognition for people that did a narrative or they actually posted something on TikTok, it was their own face saying, I don't like these people, they're full of crap. Well, now your face is there and want to know who that is. I think that crosses a line. I think, I think it's a good idea to find out what the public sentiment is because the news media lies front, right and center, in my opinion. Front, right and center.
- [94:54]
Patrick Bet-David
The news media lies.
- [94:56]
Vinny
Wait, Tom, I will get up. I will leave this podcast and not come up.
- [95:01]
Adam Sosnick
I'm not going to wait for the news media to tell me. And it's not a bad thing for me to find out if the public sentiment is one way or the other.
- [95:07]
Patrick Bet-David
And you do. So let me tell you what concerns me with I, this is the only thing, okay? And help me, I'd like to debate this and maybe there's some leaks in my thoughts that I have here and I'm fully open to it. ICE wants to know if you're posting negative things about them online. Okay. ICE is seeking contractors to monitor online discussions including negative references to the agency. The contract requires real time threat mitigation and monitoring services to track criticism and potential threats. Contractors must analyze behavior on social media sentiment and compile weekly reports on a total number of negative references to the ICE found on social media. The program also includes identifying individuals being flagged posts, gathering data such as previous social media activity, affiliation with a group which has violent tendencies, and using facial recognition capabilities to link online identities. Critics warned the program threatens free speech and expands ISIS history of mass surveillance. Cynthia Rodriguez, American Right Group Magent states ISIS attempt to have eyes and ears in as many places as we exist, both online and offline should ring an alarm for all of us, Vinnie.
- [96:13]
Vinny
I mean anything that has to do with facial recognition and stuff like that, I mean, I could see how if this is like Tom Holman's directive and, and worrying about, you know, you know, the threats because I mean, there's a bunch of people threatening them. There have been death threats. I know the, the cartels were trying to send up drones and stuff to actually attack ICE and border agents and they were putting hits out on them. I think this. But I'm not a fan, pal, of that mass surveillance. I'm not a fan of it. If they have wind of people posting and stuff like that that are threatening life, then deal with it like that. But I'm not a big fan of any, any mass surveillance.
- [96:50]
Patrick Bet-David
You know what my concern is with this area is the following. My concern is if, if your side. Let's just say, you know, the company has a CEO that you don't like. He's a pos.
- [97:04]
Vinny
Okay.
- [97:05]
Patrick Bet-David
The company you work for has a CEO that you just can't stand. And they are overly monitoring everything in ways that's crossing the line. Just kind of like when I'm saying stuff like crossing the line, like reading, like.
- [97:21]
Vinny
Like let's say you're doing your emails to work.
- [97:23]
Patrick Bet-David
Email.
- [97:23]
Vinny
They can read you emails?
- [97:24]
Patrick Bet-David
Well, no, they can do that. Anyways, I'm not talking about that. Like, you know, most CEOs don't have time to go. I've never read an email of my. What do you call it? Of a. Two employees exchanging email with each other. That's not what I'm talking about. But like just annoyingly obnoxious and annoying to work with. And the guy's not in his golfing three days a week, but he's expecting you to work. And there's all, all this other stuff that's happening. Then a new CEO gets hired and you like him a lot. Okay. And it's great. But he also wants to take everything to the highest level of investigation and all this other stuff, like hardcore, hardcore, hardcore with everybody. You know what? Then it happens. It's a guy you like. But guess what? If he creates those standards, anybody else after him, the same thing's going to happen. Meaning you may like the people that are in the White House today. You may like Tom Holman. I'm a big fan of his. If you go and type in on YouTube, Tom Holman, PBD, you'll see what I said about him before he got elected. And I. Rob, if you can pull up this clip on Tom Holman, just type in Tom Holman and then go to YouTube, search for views and go to most viewed. Okay? You'll see right there. The top clip is right here. Okay. This is. Go play the clip. Can't hear it. Rob, can you go back a little bit? Yeah. If Trump wins, this guy is going to be back running the border. This was a year ago and I want to remind you guys who this guy is. When he sat down with AOC and AOC tried to grill him. And watch what happened to AOC when she tried to grill a man who knows the law. Go ahead and watch it. It's just entertaining. Go ahead. You don't need to play the whole thing. But that's a year ago. Right? So he's the right guy for the job. So happy the fact that he's in there. But if you allow and be okay with this additional surveillance on you, then the next administration that comes in that you don't like, they're going to say, well, what's wrong with it? They did it anyways. Your favorite guy, Tom Hoban, came up, you're giving permission for the. This guy may be doing it for the right reasons because he's trying to find all the other. But the next guy may be like, no, we're watching you, Vinnie.
- [99:30]
Vinny
Yeah.
- [99:30]
Patrick Bet-David
So today you went to the bathroom zero times. Is your stomach okay?
- [99:34]
Vinny
No.
- [99:35]
Patrick Bet-David
Are you. Are you eating your. Are you eating your. What do you call it? The powder. Whatever. The powder.
- [99:40]
Vinny
Collagen.
- [99:40]
Patrick Bet-David
Collagen. Hey, what happened with that? We know.
- [99:44]
Vinny
You know, I was drinking collagen in the morning.
- [99:45]
Patrick Bet-David
That's right. That's what I'm listening. I work with ice, so we watch and we follow stuff closer.
- [99:50]
Rob
Isn't this what happened with the Patriot Act?
- [99:52]
Vinny
Yeah.
- [99:52]
Rob
Hey, listen, we're just going to do a little surveillance.
- [99:54]
Patrick Bet-David
And by the way, it happened under who? It happened under Bush.
- [99:58]
Vinny
No, no.
- [99:58]
Patrick Bet-David
Obama.
- [99:59]
Rob
Huh?
- [99:59]
Vinny
Didn't it?
- [100:00]
Patrick Bet-David
No. You talking about like this was.
- [100:04]
Vinny
After Bush.
- [100:05]
Patrick Bet-David
It's. She started November of 01, if I'm not mistaken. What month did it get started?
- [100:09]
Rob
Yeah, right after.
- [100:10]
Patrick Bet-David
Can you talk about exact month? What month did it get started?
- [100:13]
Adam Sosnick
Patriot Act, October 26th of 2001.
- [100:16]
Patrick Bet-David
There you go.
- [100:16]
Rob
October, like literally a month after 911.
- [100:19]
Patrick Bet-David
TSA, all that stuff.
- [100:20]
Rob
And where is it right now?
- [100:21]
Patrick Bet-David
So I'm just saying, like, some of the stuff you got to kind of watch when it happens. I will say this to you for some of you guys. I want, you know, some. Some news that it's. It's tough. Rapper Cardi B claims her uncle got deported.
- [100:35]
Vinny
No.
- [100:36]
Patrick Bet-David
Yeah. Anti Trump rant. Uncle got deported. And she's not too happy about it. Is this it, Rob?
- [100:41]
Adam Sosnick
It is. It's really long. I can just forward to the end. It's a minute and 40. And she just eats chips the entire time.
- [100:46]
Vinny
Yeah.
- [100:47]
Adam Sosnick
But towards the end she complains about how Donald Trump deported her own.
- [100:50]
Patrick Bet-David
I think we'll be okay without watching.
- [100:53]
Vinny
You know what she's mad at? You know what she's. She's furious about because, like an idiot, I had to watch the whole thing because I was waiting for the part that Rob's talking about. She's complaining about her three thousand dollar shoes. The red bottom with the spice.
- [101:03]
Rob
Let's see what I'm talking About and she's like, Let me see what she's talking about.
- [101:07]
Vinny
She's saying that the, the security at the super bowl, she's like the freaking Secret Service, they were like, like checking us and like.
- [101:14]
Rob
Let me just see what she's talking about.
- [101:16]
Vinny
Go to the beginning.
- [101:17]
Adam Sosnick
Go ahead.
- [101:18]
Vinny
She's so.
- [101:19]
Patrick Bet-David
No, no, just plates.
- [101:20]
Vinny
I can't just look at my shoes.
- [101:28]
Patrick Bet-David
What are we doing?
- [101:29]
Vinny
Yeah, she'll call me.
- [101:30]
Patrick Bet-David
Three bands.
- [101:32]
Vinny
Yeah.
- [101:33]
Patrick Bet-David
Three what?
- [101:33]
Vinny
$3,000.
- [101:34]
Rob
$3,000 PBD. Come on.
- [101:36]
Vinny
Three bands now. I hate him lesser. Like, is she ignorant? I make him. You're not saying the right goddamn Super Bowl. I like him lesser. She's educated. Look at her. Oh, God.
- [101:50]
Adam Sosnick
What?
- [101:50]
Vinny
You got to understand, this is all everybody's fault that listens to her music. You guys made this person like him.
- [101:56]
Patrick Bet-David
We're going to be okay, guys.
- [101:58]
Vinny
Oh, God. Look, not.
- [102:02]
Rob
Everything is just completely emotional. And no one has the best. Whether it's her and her stupid uncle that got taken away or Selena Gomez was.
- [102:11]
Vinny
Oh my God.
- [102:13]
Adam Sosnick
Do we know anything about the UNC thing?
- [102:16]
Vinny
Yeah, the, the, the ending clip is her saying like, she telling the truth.
- [102:19]
Rob
Her uncle got the port. Or like the best is when a guy's like.
- [102:24]
Adam Sosnick
Or she's just saying something.
- [102:25]
Rob
Listen, you want to hear it?
- [102:27]
Vinny
Yeah.
- [102:27]
Patrick Bet-David
Definitely don't.
- [102:28]
Adam Sosnick
But I, I don't.
- [102:29]
Rob
I'm just asking cuz my uncle got deported.
- [102:32]
Vinny
Yeah, good.
- [102:33]
Adam Sosnick
That's all she says. Yeah, I want my uncle to come back cuz my uncle got deported, by the way.
- [102:37]
Patrick Bet-David
Well, can you imagine if somebody investigates who her uncle is and her uncle is tied to some pedophile, Some traffic and some stuff like that.
- [102:45]
Rob
It's like house.
- [102:47]
Vinny
Yeah, yeah, that's why.
- [102:48]
Patrick Bet-David
Thank you, eyes. If that's the case. If it's not, if it was tied to something else and he's doing everything right legally and all that other stuff, then that's the best videos though, when.
- [102:57]
Rob
The guy's like, listen, guys, I don't know how to tell you this, but look, my mother in law who lives on.
- [103:03]
Patrick Bet-David
Yeah. 147 Elm street and she's.
- [103:07]
Vinny
She's an illegal.
- [103:09]
Rob
She doesn't have a dog.
- [103:10]
Adam Sosnick
And the back door is usually unlocked.
- [103:14]
Patrick Bet-David
Please stop crying, Adam.
- [103:15]
Vinny
Seriously.
- [103:16]
Patrick Bet-David
All right, let's go to the next one here.
- [103:17]
Rob
Anyway, my mother in law, she's a.
- [103:19]
Patrick Bet-David
Yeah, you need a mother in law. Okay, so next one. Entry, entry, entry level homes in Miami are going extinct. Extinct. There a Wall Street Journal story and I have some thoughts on this, but I'm going to go to Mr. Ellsworth Firth because he's a biz doc. So it's true. Entry level homes in Miami are going extinct. As a single family. Prices skyrocket. The number of sales under $500,000 dropping ready 79.6% from 2019 to 2024. Vinny, let me say this to you one more time folks. Please listen to this. The number of houses under the price of $500,000 dropped 80%. There's 80% fewer homes under a hundred. Under $500,000 in five years. She we're not talking 20 years. Five years. Okay? Anna Bozovic, all right. Founder of Analytics Miami, explained The market below 500,000 is going extinct. It's kind of shocking. In December 2019, there were 3,518 single single family homes listed under 500,000. But by December of 2024 it went from 3,518 to 641. Rising home values, high land prices and construction costs have pushed most of these homes into higher price tiers. With the median sale price cutting hitting 675 into December, up 78% from 2019. Rob, is that active listings right now? Can you.
- [104:53]
Adam Sosnick
Yep.
- [104:53]
Patrick Bet-David
Can you go up a little bit to see? Because I can't see the cameras. I know the other way. The other way. Rob? Yeah. So that's active listings from 2015 to today in Miami. Wow. Is that really what that is? And can you go into home sold, go a little bit lower on the next one. Home sold annually. This is specific to Miami. What was it in 2015? Rob?
- [105:12]
Adam Sosnick
12,820. And today it is 2,220.
- [105:15]
Vinny
So I'm not moving to Miami.
- [105:16]
Patrick Bet-David
Luxury real estate has surged with a number of single family home sales above 10 million increasing 248. So 10 million dollar homes in Miami have gone up to 250 from 2019 to 2020. In Miami's top 1% home threshold jumping from 3 1/2 million to 10 million 3X. Bolsevic noted these price points didn't exist pre covered the sheer appetite. It's completely different reality. Notable sales including hedge fund Ken Griffin Record breaking 100 million dollar purchase. Bezos spending 234 million dollars assembling a compound on Indian Creek. And soccer star David Beckham and his wife Victoria beckham buying a 72 million dollar home mansion that set off a market frenzy.
- [105:58]
Adam Sosnick
Thomas so here's what happened. Three things happen and then there's a solution. There's a way out. The first thing is the number of listings are down. Historically why is that? Because a lot of people have those 2 to 4% mortgages and they don't want to sell their houses. So the actual supply of houses is down. Then we printed money, Biden printed money, which artificially increased the price of assets cuz there was more money. And price of assets went up artificially, but it stayed there because it's money supply. And then you have demand. People moving to Florida. Listen to those names. They're not in New York. Ken Griffin, the Beckhams, all those folks. Bezos. Bezos moved from California down here. So you have incredible demand. So you have inventory is down, demand is up. People moving here for the inventory that is available and the money. You printed money, so the price went up. So what do we need? We need more building in the outlying areas so they have more family areas. Except on the east side of Miami there's this thing that prevents building called the Atlantic Ocean. And on the west side of Miami there's a thing that prevents building called the Everglades. So Miami is kind of out of space. So it's kind of part of urban planning as industrial areas and things get repurposed to encourage developers to give them incentives to build, you know, maybe more condos and low income housing so that the workers have a place to live. That's a good thing. And if you build enough of them, then you're going to have some price moderation. And if the interest rates on mortgages come down, you're going to have people want to sell existing houses. But Miami's price has gone up and the overall net price of the area is probably not going to go down anytime soon.
- [107:58]
Patrick Bet-David
So what's the solution, Tom?
- [107:59]
Adam Sosnick
Well, the solution is slow. It's like Miami is going to be an expensive place.
- [108:04]
Patrick Bet-David
I'm going to give you a solution. You ready? Here's a solution. May I? Okay, here's what I think the solution is. I think exactly what Miami is going through is what happened to California and multiple cities where people with money showed up and then guess what? You don't have a choice. That's what the market's going to pay for that community. And you're going to have to pay it. You don't want it, don't worry about it, move out. So if I'm long in any city in the state of Florida, you know what? I'm long on Fort Lauderdale. Okay? Fort Lauderdale. I am long on Fort Lauderdale. Why? Because you got Palm beach, which is a different climate. Okay? You got Boca, very different climate. Boca is a great area. Boca could be the Glendale of California. Meaning if Armenians want to move to a city that reminds them of Glendale, go to Boca Raton. There's a, a Armenian Catholic church. It's a great place to go to. Boca would be a great place for Persians, Iranians, Armenians, Assyrians to move to. I'm. It's not like as if I'm lobbying, but Arika Kushboka, I couldn't agree more. Yeah, Boca Raton, it's a great city, right? But I think Fort Lauderdale is going to have the next explosive growth the next 10 to 20 years. Why do I think that is? Because I don't think it's going to slow down of people moving to Florida. I don't think that's slowing down. I think where they slow down, too, is going to be Miami, because it's way too expensive. And I also think a lot of people are going to sell their homes in Miami and move up to Fort Lauderdale with that additional equity that they've made with the market that's willing to go there. If they want to pay you for a big check for the place, do it. If not, there's going to be some changes taking place. All right, so go for it. Adam?
- [109:53]
Rob
No, I just think you're spot on. I mean, a lot of my friends who are married with kids no longer live in Miami. They live in places like Cooper City or Pembroke Pines or anywhere just Broward west of Fort Lauderdale. And there's a lot of people that are basically moving up to Palm beach area, whether it's Port St. Lucie, Vero, Stuart, where they're just priced out of Miami. This is supply and demand Miami, thanks to Mayor Francis SUAREZ, thanks to Governor Ron DeSantis, Miami is the best city in America right now. Now, straight up, whether it's taxes, whether it's climate, whether it's business, all that and then some, if you can avoid some of the shadier dealings that go down in Miami, there's no better place to live than South Florida these days. By the way, one of my good friends, Realtor in Miami, Geo, he said a starter home now costs a million dollars in Miami, and oftentimes that's for an older home that's pre1950s, especially if you're closer to Biscayne Bay. But also the, the, the downside is, all right, so let's say you're like, I don't want a single family home. I want to go get a condo. Condos are expensive. And we see what's going on with homeowners, insurance, we see what's going on with taxes. We see what's going on with hoas. It's. People are getting priced out. But if you want to live in a sun fun place, you got to pay the price.
- [111:09]
Patrick Bet-David
Yeah, I agree.
- [111:10]
Vinny
And it's, it's traffic for me.
- [111:12]
Patrick Bet-David
It's a beautiful place. We were in Miami this past week doing a podcast with Jake Paul at his. What do you call it, Better headquarters. Dude, what a freaking cool place. He had a. He had a dog that if Brooklyn was there, he would have thought, that's a horse. That dog was so big yesterday, Brooklyn is running and screaming in ways I've never heard her do.
- [111:33]
Vinny
Why?
- [111:33]
Patrick Bet-David
Jimbo was chasing her. Jimbo's playing. She thought he was chasing. She was so scared. I mean, and Jimbo's 15 lbs.
- [111:41]
Vinny
Lbs.
- [111:42]
Patrick Bet-David
This, this 150 pound. But anyways, we're trying to leave Miami to come back. I don't know how long it took us to get on the freeway.
- [111:47]
Vinny
What do you mean? One light. One longer light took us 20 minutes.
- [111:51]
Rob
I don't believe you.
- [111:52]
Vinny
I'm telling you right now, I've never been there.
- [111:54]
Rob
Is one time coming from Miami, zero interest, no traffic, bro. There's definitely no cars on fire on the highway.
- [112:02]
Vinny
Listen, it is 500, 000.
- [112:05]
Patrick Bet-David
Natural reaction was a flip flop. Just go like this real quick. My hand was about to go like this. Anyways, traffic's beautiful, guys. We're about to wrap this up with a couple other stories and then we're done, folks. Trump demands NCAA strip trans athletes of women titles. Okay. And then he follows up which. This next one, which I love this next story and I agree with him and I think it's going to happen, actually. So Trump, Department of Education, Department of Education demands that the NCAA strip transgender athletes of any women titles or records they won after transitioning, calling it a matter of urgent importance in a letter to NCAA president Charlie Baker and NFHS National Federation of State High School Associations chief Bob Lombardi. The letter argued that past policies denying the material reality of sex inflicted harm and that reversing them would restore a genuine commitment to girls and women's quality of opportunity and athletic competition across the U.S. trump, who issued an executive order on his first day title keeping men out of women's sports, declared the war on women's sports is over. While his administration empowered federal agencies to penalize non compliant entities, the Department of Education Department announced investigations to San Jose State University, University of Pennsylvania, Massachusetts Interscholastic Athletic association for the alleged title is that Title 9. Title 9 violations. By the way, he also said to adopt. Rob, is this the one about the Olympics?
- [113:42]
Rob
Yes.
- [113:42]
Patrick Bet-David
Play this clip, Rob. Go for it.
- [113:44]
Adam Sosnick
But Marco is going to make clear to the International Olympic Committees there, and he's going to make it as clear as anybody can make it, that America categorically rejects transgender lunacy. We want them to change everything having to do with the Olympics and having to do with this absolutely ridiculous subject that we even have to talk about this subject. If you went back 10 years or 15 years and you would move forward and listen to this, you'd say, what the hell are they talking about? This is impossible. But you have people out there, Democrats, that are still totally in favor. They can't win the argument. They can't win a debate. They look like fools. And they continue to go on. And it's okay, because as long as they do this and open borders and all of the other things they talk about, transgender, everything, all they want to do is transgender and men playing in women's sports and all of these crazy things. And if they continue, I think we're going to end up. Ultimately, it's not going to matter because we're never going to go along with them, and we're just going to keep winning elections.
- [114:46]
Vinny
Benny, listen, I mean, you want to talk about common sense, I'm still in disbelief that for this past four years and a little bit before that, we were even not only entertaining the idea, we let grown men, meaning they still have all their junk, all the twigs and berries, and we're letting them compete with women. And just the entire left was like, how dare you? These are strong women. They're, you know, you know, you're trans hating or you're homophobic, like, all that, all the nonsense. It's, it's, it's embarrassing as a nation that the President of the United States has to go up there and say, listen, you know, the dudes that were playing with the chicks, that's not cool. We're going to give it to the, to the women. And I'm just shocked that this. Pat, I can't even articulate the words, that we let it go on for so long now that we like that. That's an issue with all the other stuff that's happening with the border and ice and economy and inflation, all that. He has to go up there, waste his time to be like, by the way, those dudes are going to lose their medals and we're going to give it back to the actual women. It's unbelievable. And I'll wait for Tom to talk, because I'm going to talk about the sanctuary city situation in Worcester, too.
- [116:02]
Adam Sosnick
Well, I think this is great and this is common sense, and I think what you saw in that clip there over Trump's shoulder, beaming, absolutely smiling and beaming, is Riley Gaines. And if they strip Lia Thomas, a swimmer who allegedly hooked up with a female swimmer from another school.
- [116:21]
Vinny
How dare he?
- [116:21]
Adam Sosnick
Within a week of. This is the thing. It's allegedly within a week he was in a date, a date in a dating relationship and hooked up with a female swimmer with fully functioning male junk, but stood there on the podium with that. I look forward to the day if they strip the titles that Riley Gaines stands there. She finished second place after years of training, years of going through it, and to receive the award that she rightly won. I'd like to see that. She has taken so much heat. She was beaten to death by the media for protesting it. She was called, you know, insensitive. She was called, you know, transphobic. And all she said was, I just want to call myself the champion. That's all I want to call myself. Will someone please call me champion? And I'm looking forward to that. What's also interesting, where's the Olympics coming to the Summer Olympics? California, to Los Angeles. So. And Sebastian Koh Sebco is actually Sebastian Ko. When I grew up, he was one of the guys that. Not idols, but he's one of the runners I really admired. You know, John Walker, New Zealand, Sebastian Koh, Steve Ovett, you know, Doug Padilla. These were runners, distance runners at that time. And Sebastian Koh has been this voice of reason saying, hey, look, why don't we find ways to. So trans people can feel included, but just not in the female category. He's been saying that this whole time. So there is common. So all the people that were beat down, that were hiding behind and, like, not allowed to say what they really felt, are now coming up and saying, hey, this is what I felt, but I just wasn't allowed to say that way. I hope the Olympics moves, because if they want to come to LA and they still want to come to LA on American soil with these rules, I think Trump's gonna have something to say about it.
- [118:07]
Patrick Bet-David
Good. Adam.
- [118:08]
Rob
Well, you know, when we. This was the podcast I think we did in, in D.C. when we were basically saying, you know, what were some of the things that. On Trump's agenda that I think were. That won him the election? And I was like, look, I think this trans thing, as small of A minuscule issue as it is. Literally took over the United States. I mean, the whole Dylan Mulvaney thing, everything was going with Leah Thomas and Riley Gaines. It's just sort of. It's shocking. And when Trump gets on stage and he's like, the transgender agenda, you know, I don't care if your name is Brandon. You want to go by Brenda. I don't think so, honey. I think. I think it resonates with people.
- [118:47]
Patrick Bet-David
Got it.
- [118:48]
Rob
And they. No, you don't think so?
- [118:51]
Patrick Bet-David
I think, yes, I think that's. I fully agree. That point was made by Mr. Ellsworth. I want to see if you had a different angle of thoughts to say about this, because I think. Okay, so that's where you think.
- [119:02]
Rob
If you look at this picture right here, Leah Thomas. I think it's ma'am. I mean, it's.
- [119:08]
Vinny
Look, the fact that we let it happen, bro. The fact that, yeah, everybody. Not us, but that one side was like, let them live their truth. And it all started. You know where this all started? Bruce Jenner. This the moment.
- [119:22]
Rob
It's Caitlyn.
- [119:23]
Vinny
No, no, he was Bruce. I know. I'm dead. Naming. When he walked out of the Es ESPN awards in his white dress and people were going crazy and he went to the mic, he was like, I just wanna. You're so lazy. At least attempt to change your voice. And the one thing that bothered me is they kept going. He's a. He's a hero. He's. Why? Because he got fake boobs? No, no. That word hero was thrown around so much, I could like military soldiers that we know that fought in war. Those are heroes. The only way he'd be a hero is if those boobs. ISIS had them. And he had to go kill two ISIS guys and bring the boobs back. Then he's a hero. There's no hero.
- [120:00]
Adam Sosnick
I'm trying to figure that. I normally agree with you, but I'm trying to figure out the import export killing and boob thing.
- [120:05]
Vinny
Well, like you're a hero in the war.
- [120:07]
Patrick Bet-David
I'm going to this.
- [120:08]
Vinny
Go ahead.
- [120:08]
Patrick Bet-David
Massachusetts City. Okay. Sanctuary city status for transgender community. Rob, if you want to play the clip, then I'm going to go to the Vinnie and then we're going to wrap up. Go for it. Massachusetts. Okay. If you want me to read it here, Tom. Rob, before you find.
- [120:21]
Rob
I have it.
- [120:22]
Adam Sosnick
It's so. Just so you know, this is a rather long clip, but there's a whole. It's a montage of different drag queens.
- [120:28]
Patrick Bet-David
Show it to us. It's beautiful.
- [120:30]
Adam Sosnick
The city to protect me because the federal government won't. And if you think you're afraid of Trump, you should see how afraid of Trump I am.
- [120:39]
Patrick Bet-David
Can you wrap up, please?
- [120:43]
Adam Sosnick
You say that you're afraid of Trump, and that's why you don't want city to be the city to be a space, safe space for trans people. You better prepare for trans people to.
- [120:52]
Vinny
Make this a very unsafe space. I'm shaking right now. I don't want to be here. He's pissed.
- [121:01]
Adam Sosnick
I'm sorry.
- [121:01]
Vinny
Am I taking too long pleading for my life?
- [121:04]
Patrick Bet-David
You remembered how many children I have and how many.
- [121:07]
Adam Sosnick
And that two of them are trans.
- [121:09]
Rob
This trans person has it's ma'am and.
- [121:12]
Vinny
The T in the lgbt.
- [121:14]
Rob
Yes, Queen.
- [121:15]
Vinny
I'm multiply disabled.
- [121:17]
Adam Sosnick
I have Ehlers Danlos syndrome, which is a connective tissue disorder that causes me immense physical pain. I. I'm on the autism spectrum, and I have narcolepsy.
- [121:28]
Vinny
And I couldn't drive myself here, so.
- [121:29]
Adam Sosnick
I had to hide from my driver that I was in drag, which is not an easy thing to do in bread.
- [121:37]
Patrick Bet-David
I do not want to be here. It's my day off.
- [121:40]
Adam Sosnick
I do not want to be in your dm.
- [121:42]
Patrick Bet-David
Is that a joke? I do not want to be in your email inboxes. Is that a joke?
- [121:45]
Adam Sosnick
Why my creativity writing diss tracks like Kendrick.
- [121:49]
Patrick Bet-David
I don't want.
- [121:49]
Vinny
She has a painted beard.
- [121:51]
Patrick Bet-David
Applying glitter on my face so that.
- [121:54]
Adam Sosnick
You will hear and see me. I want you to listen to me.
- [121:59]
Patrick Bet-David
Rob, Stop.
- [121:59]
Adam Sosnick
Let us remember.
- [122:00]
Rob
Who's this lady?
- [122:02]
Patrick Bet-David
Oh, let me see. This one. This one sounds exciting.
- [122:04]
Rob
Is this lady right here?
- [122:05]
Adam Sosnick
The Nazis burned the books that.
- [122:08]
Patrick Bet-David
The.
- [122:08]
Adam Sosnick
The Nazis burned books on gender sciences first. Now the administration has villainized and marginalized migrant workers, trans lgp, lg, LGBT people, and even special needs. Can you look at me and tell.
- [122:27]
Vinny
Me how many of my friends need.
- [122:28]
Adam Sosnick
To die before you do anything, please look at me.
- [122:32]
Rob
I mean, these people are making a great point.
- [122:38]
Adam Sosnick
Of course we need to continue celebrating Black History Month.
- [122:42]
Patrick Bet-David
Do you.
- [122:42]
Vinny
Okay. Do you see?
- [122:44]
Rob
Okay, who are your friends here, Vinnie?
- [122:46]
Vinny
Well, first of all, who are these.
- [122:47]
Adam Sosnick
Adams, by the way? This. This really happened at a city council.
- [122:50]
Vinny
Yeah. And if you were. If you were in an elevator and that first chick. I don't know what that was, walked in, it's a freaking person. And I pray that they can find God helps them in whatever way. These are mentally ill people, okay? And this fake narrative of they're gonna kill us, that's the complete opposite, okay? It's the transgender community that are responsible for the majority of the past freaking mass shootings. Am I. Am I making this up. Up. The majority of them. And they keep hiding their stupid manifestos from us because they don't want to know. The real thing is that these people have problems. And I don't know if you guys saw this. I'm pretty sure some of the people in the audience did. Did you see Cynthia Nixon? She's the washed up actress. Actress from Sex and the City. Did you guys see her? She was out there. She's protesting against. She's protesting against Trump's executive order to protect kids from insanity child mutilations. And this is her biggest revelation. I want you guys to hear this and see what this movement and why those people are in city council meetings, because the people like this that they look up to are pushing this stupid agenda. Go ahead, Rob.
- [123:56]
Adam Sosnick
I am here today as the mother of a proud trans man.
- [124:03]
Vinny
Celebrating it.
- [124:07]
Adam Sosnick
I am here today as the aunt of a proud trans man. My best friend's kid is trans.
- [124:17]
Vinny
How does she get so much best friend is trans. Her best watch.
- [124:23]
Adam Sosnick
My wife and I, our lives are filled with the most amazing, beautiful, brave trans people. Young and old, but especially young. My trans kid had his top surgery.
- [124:44]
Patrick Bet-David
At NYU a number of years ago.
- [124:48]
Vinny
This is. This is Hollywood pushing.
- [124:50]
Patrick Bet-David
Their doctors were fantastic.
- [124:52]
Vinny
Yeah.
- [124:52]
Adam Sosnick
His surgeon was the best we could have imagined.
- [124:56]
Vinny
Yeah.
- [124:56]
Adam Sosnick
And the idea that this city is filled with young people who thought they had a place to go where they could receive the highest care, and that.
- [125:08]
Patrick Bet-David
Place has now been shut down.
- [125:10]
Vinny
Rob. Okay. Do you guys. Okay. Her entire world is drowning in this ideological freaking cult. Did you what. What has to happen that everybody in your family, the friends that your son, your daughter, they're all going down this. This cult route. And it's.
- [125:28]
Patrick Bet-David
Dude.
- [125:29]
Vinny
Trump is stepping in to stop us from one of the most destructive brainwashing campaigns in history that taking children and saying, you can make the decision and I'm going to support you and chop off your this or chop off your that is absolutely insane. And these people need to be in a freaking mental institution, period. Like, what are we even talking about?
- [125:48]
Adam Sosnick
Evil is real. And one of Satan's greatest tricks is first to make people believe he doesn't exist. And the other thing is what people need to understand is that there is a deep evil and there's deeper evil that you don't see. And there's gonna be a lot of comments. A lot of people come unglued with what I say here. But these are not normal reactions. These are not normal reactions. I mean, and it's sad. It's sad at a big level. There's suicide statistics nobody wants to talk about unless they use them at city council to say, oh, you're bad, and I'm oppressed. And it's just. It's horrifying. And you see this, the city council meeting, and it goes from people who are making a lifestyle choice to people that are obviously, you know, troubled in some way. These are not just, you know, gay people living next door to you and living their lives. These people, if you look at them, they're really troubled and they need help at another level.
- [126:45]
Patrick Bet-David
Yeah, I think to me, it's flirting with a crime. You're flirting with being a criminal. When you say, you know, kids, especially the youth, especially the young, how brave they are. Brave to do what? Brave. The young need direction. The young need examples. The young need feedback. The young need to identify who's the right hero and who's not. No, you're confusing kids, and to me, you're flirting with being a criminal. Because what you do to them, they'll be regretting for the rest of their lives. They'll be looking back at 35 years old saying, what the hell did I just buy into? Why didn't somebody tell me I wasn't doing the right thing? You know, they say sometimes kids love it. Like, I had one of these relatives that I'm sitting down, having a conversation. It's a tough conversation. And this happened a few times. And she's one of our. One of the kids in the family. And she'd go back and she talked to Jen and would say, you know what? I love it when I talk to Patrick and he's holding me accountable. Because she's like. It's a way of saying, I can't believe he cares so much that he's wanting to hold me. Discipline. We want to be held accountable. We want to have somebody that's paying attention to us. We want somebody that's holding us at higher level. Higher levels. We need that. That's a form of love. That's a form of love. Not to sit there and say, do whatever you want to do. No, no, that's not a form of love. That's called. You're not a leader. You're a weak human being. And you, in a way, are a menace to society. And it's unfortunate when you see these types of things happening. Anyways, gang, go to VT webinar. I want you to come join us as Kentucky Derby. I will tell you all the details on this webinar and all the new updates and everything that we're doing, especially those of you guys that are watching the podcast. I can't say how many people that say, hey, I'd love for the entire month for me to be able to talk to everybody else who's watching PBD podcast. You're going to be able to get into a circle to talk to one another where we're going to post the notes, everything that we're doing behind closed doors, course having a conversation with the folks of PBD Podcast. Sign up, go to VT Webinar, put this in your calendar, go to VT Webinar right there and then sign up, register for the date and March 4th, 3pm we'll be doing a zoom of Manek with new updates and I'm gonna make another announcement of what's going to happen in this webinar next week as well. Stay tuned. But March 4th, 3pm we'll see you guys there. Take care everybody. Bye.