The Charlie Kirk Show - They Are Collapsing the Dollar
Aired: 2022-03-15
Duration: 36:36


=== Dollar Deterioration and American Values (02:12) ===

[00:00:00]  Hey everybody, today at the Charlie Kirk show, the U.S. dollar is deteriorating, and there is a little piece of news that you might not have seen that is heavily impacting the future of the United States dollar as the world reserve currency.
[00:00:15]  We talk about that and so much more.
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[00:01:00]  Check it out today.
[00:01:01]  Buckle up, everybody, here.
[00:01:03]  We go.
[00:01:03]  Charlie, what you've done is incredible here.
[00:01:05]  Maybe Charlie Kirk is on the college campus.
[00:01:07]  I want you to know we are lucky to have Charlie Kirk.
[00:01:10]  Charlie Kirk's running the White House, folks.
[00:01:14]  I want to thank Charlie.
[00:01:15]  He's an incredible guy.
[00:01:16]  His spirit, his love of this country.
[00:01:18]  He's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA.
[00:01:24]  We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.
[00:01:33]  That's why we are here.
[00:01:36]  Brought to you by the Loan Experts I Trust, Andrew and Todd at Sierra Pacific Mortgage at andrewandTodd.com.
[00:01:45]  I want to get to a story that has just come across the radar in the last couple of hours that you might not expect us to lead with, but it's one of the most important stories that the mainstream media will kind of gloss over, but it ties into what's happening in Russia and Ukraine, and it has a direct impact with the purchasing power of our currency, a direct impact with your livelihood, your savings, your property,

=== Woodrow Wilson and the Gold Standard (13:23) ===

[00:02:12]  has a direct impact with everything that you deal with.
[00:02:18]  So part of the global world order that we live under post-World War II is the idea that America will protect the sea lanes, America will keep peace in the continents, and in exchange, the world will use the dollar as the world reserve currency.
[00:02:37]  So this idea of globalism has been kind of half-tried, if you will, many times.
[00:02:44]  The League of Nations by Woodrow Wilson, it was tried and failed miserably.
[00:02:49]  The United Nations was a feeble attempt.
[00:02:53]  Now, when we talk about the global order that was established in post-World War II, let's say post-World War II geopolitics, the world was a very, let's say, damaged place.
[00:03:08]  The world, in more ways than one, had difficulty being able to rebuild itself and to bring itself out of the not just the troubles, but the widespread carnage that occurred because of the Axis versus the Allies conflict.
[00:03:27]  So as a solution, Dwight D. Eisenhower and many others came up with a plan that because the United States dollar was so strong, because all of the fighting except for a Pearl Harbor happened outside of America, and America suffered great losses in World War II, but far less losses than the 20 million civilians and army troops that died in Russia.
[00:03:53]  Far less than the 7 million people that were killed in the Holocaust, and far less than the 5 million people that were killed that were German citizens or army members, far less than the 1.8 million that were killed in Great Britain, or far less than the 1.5 million that were killed in Japan, and the industrial base of Japan was depleted, and Germany was in tatters.
[00:04:15]  So the entire industrialized world kind of looked to one country as a way to keep the world order afloat.
[00:04:23]  Instead of trying to rebuild these other currencies, we said, hey, we're going to reset those currencies.
[00:04:27]  You guys have heard that term every so often, especially right now with the Great Reset.
[00:04:31]  And we will build the entire global economy on the United States dollar.
[00:04:39]  And even the pound, as strong as it was at the time, was nowhere near the kind of confidence that was put behind the United States dollar.
[00:04:48]  And so because of this, we saw the rise in demand for energy, otherwise known as OPEC, traded in dollar bills.
[00:05:00]  If you go to OPEC's website, it shows the price of oil in dollar bills.
[00:05:07]  OPEC, of course, is the organization of patrolling exporting countries.
[00:05:11]  It was founded in September of 1960 as part of this global order.
[00:05:16]  Now, many of the meetings happen in Vienna, Austria, as you know, as we've talked about in great detail.
[00:05:21]  That's kind of the centerpiece of that.
[00:05:23]  If you go to OPEC's website and you go through actually how they measure the value of oil, it's always in dollars.
[00:05:30]  Now, the United States being the world reserve currency is a shot of confidence for us to be able to spend money we don't have.
[00:05:39]  Our debts and our deficits are largely financed on the confidence that when it comes down to it, the world knows that the American dollar is unbreakable, or at least was unbreakable.
[00:05:51]  Now, part of the reason why people have so much confidence in the United States dollar is because of our extraordinary military.
[00:05:57]  When it comes down to it, having 12 aircraft carriers, that'll instill a lot of confidence in your currency.
[00:06:03]  Having intercontinental ballistic missiles that can come down to a millimeter of accuracy, that'll give some people some confidence in your currency.
[00:06:11]  Having the Marines, the Navy SEALs, our amazing military, that makes the world look in awe and say, hey, I'll convert my irrelevant Egyptian currency to a dollar.
[00:06:24]  I'll convert my Ukrainian currency to a dollar.
[00:06:29]  And also, not to mention, the United States has private property rights.
[00:06:32]  We were energy independent for a while.
[00:06:35]  We had an entrepreneurial base that would create wealth, the likes of which the world has never seen.
[00:06:40]  And so, for all of these factors, over the last 40 and 50 years, no one really questioned the fact that the United States and our dollar was where people went to feel safe.
[00:06:50]  We were the place for the flight to safety.
[00:06:52]  When things started falling apart, people would always grasp on dollar bills.
[00:07:00]  It's like, all right, no matter how rough the seas get, no matter how difficult things become, I know that the United States will remain constant.
[00:07:10]  So there's a story that just popped up that many people are going to kind of gloss over.
[00:07:16]  But if this actually goes through, if this happens, it will be a death shot to the United States dollar, to your purchasing power, to the stability of our currency, to our economy as we know it.
[00:07:31]  It very well could be a financial Pearl Harbor, and I am not exaggerating.
[00:07:37]  Quote, Saudi Arabia, the largest oil-producing country in the world, is now considering accepting the won instead of dollars for Chinese oil sales, the Wall Street Journal reports.
[00:07:52]  What does this mean?
[00:07:54]  This means that China will now no longer have to convert their currency into dollars.
[00:08:01]  They can bypass the World Reserve Currency System to go buy the oil they need to be able to energize their 1.3 billion person economy.
[00:08:12]  If this gets done, this will sow dissension.
[00:08:15]  This will make America no longer the place for the flight to safety.
[00:08:20]  Instead, you very well might see an economic collapse, a financial Pearl Harbor where people say, wait a second, what is the strength of the U.S. dollar again?
[00:08:29]  Okay, you got some tech companies.
[00:08:31]  You guys aren't energy independent anymore.
[00:08:34]  You have more debt than you have assets.
[00:08:38]  Your military is not what it used to be.
[00:08:40]  You guys are afraid to use it.
[00:08:41]  You guys couldn't even pull off Afghanistan.
[00:08:43]  And understand, all these play into one another.
[00:08:46]  The embarrassing withdrawal of Afghanistan and the $85 billion of weapons we gave to the Taliban.
[00:08:54]  Our inability to deter Vladimir Putin from invading Ukraine.
[00:09:00]  Our inability to hold China accountable for the biological weapon pathogen, otherwise known as the Chinese coronavirus, spread across the world.
[00:09:08]  Our complete and open southern border, double-digit inflation.
[00:09:12]  Every time you see double-digit inflation, the United States dollar gets weaker.
[00:09:17]  And the smart people in China know this.
[00:09:19]  Seceding the dollar, or seeding the dollar, I should say, to the one is how the CCP wins the war without ever firing a shot.
[00:09:32]  All of the sanctions that we're putting on Russia hinge on us being the world currency.
[00:09:37]  And Vladimir Putin is maybe chuckling right now.
[00:09:39]  Oh, you Americans think you're so smart.
[00:09:42]  What happens when China says we don't need U.S. dollars anymore?
[00:09:47]  Who's going to follow?
[00:09:49]  What other countries are going to say, yeah, we don't need the world reserve currency anymore?
[00:09:54]  Federal Reserve Chairman Jerome Powell says, look, there's room for multiple reserve currencies.
[00:10:01]  Your own head of the Federal Reserve is saying, hey, we can destroy the U.S. dollar.
[00:10:06]  It's not like it helps any of you.
[00:10:09]  This is one of the most shocking stories that I've seen in the last couple of years.
[00:10:14]  You might see the destruction of the United States as the world dollar, and the world reserve currency, that means like 80% of your value could disappear overnight.
[00:10:21]  And I'm not exaggerating.
[00:10:24]  So much of the wealth in America is built on the confidence, is built on the fiat, the belief.
[00:10:31]  What happens when that belief deteriorates?
[00:10:34]  It'll make the 1920 bank runs look like a dress rehearsal.
[00:10:43]  Now The Economist, Financial Magazine, and newspaper has said the stock market lost over a trillion dollars so far this year.
[00:10:50]  You heard that right?
[00:10:50]  A trillion dollars.
[00:10:51]  Facebook has fallen out of the top 10 of tech stocks, and all the markets have the jitters.
[00:10:56]  Like you people are really worried.
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[00:11:37]  The Bretton Woods Agreement happened in 1944 in New Hampshire.
[00:11:44]  Essence of the agreement.
[00:11:46]  It was the beginning of the idea of exploring that we have these different countries, 44 allied countries, and we need to come up with a system to manage foreign exchange that would not disadvantage any country.
[00:12:00]  The delegation decided that the world's currencies would no longer be linked to gold, but could be pegged to the United States dollar.
[00:12:08]  So, look, the idea of getting off gold was one of the worst ideas ever explored by the United States government.
[00:12:18]  Now, I'm not going to tell you to go buy gold or silver.
[00:12:20]  That's not the point of this.
[00:12:21]  But the point is that gold, there's only a finite amount of gold.
[00:12:24]  You can't make more of it.
[00:12:26]  Therefore, your dollars must be humble.
[00:12:31]  Meaning, you cannot create more dollar bills.
[00:12:34]  It must be tied to something permanent.
[00:12:38]  Now, of course, in 1914, we saw the creation of the Federal Reserve.
[00:12:43]  It was the Federal Reserve Act.
[00:12:45]  The first U.S. dollar was printed in 1914.
[00:12:49]  Now, part of the reason why this happened in 1914 was, of course, because of Woodrow Wilson.
[00:12:56]  Woodrow Wilson, former president of Princeton University, became governor of New Jersey, and in many ways was an accidental president.
[00:13:04]  Woodrow Wilson, I believe, won the election of 1912, where Teddy Roosevelt ran of the Bull Moose Party, also against incumbent President William Howard Taft, and split the vote.
[00:13:16]  And Woodrow Wilson became president with a plurality, but not a majority of the vote.
[00:13:21]  Woodrow Wilson was a radical.
[00:13:24]  He was a legitimate progressive.
[00:13:26]  Woodrow Wilson was the first American president ever to say the founding fathers were wrong.
[00:13:33]  Basically, Woodrow Wilson said, we are so advanced with our industry, our science, and our technology that it's time to turn the page from the founding fathers of the past.
[00:13:43]  I'm paraphrasing.
[00:13:44]  I don't think he was that blunt.
[00:13:45]  But basically, he said, we are now entering a new era, an era of scientific inquiry, an era of historic exploration.
[00:13:53]  Now, big government ideas, the great society, Medicare, Social Security, foreign wars, $80 billion of unaccounted budgets to the CIA, all of those things are very difficult to finance if you have to have a dollar bill that is tied to a finite standard.
[00:14:16]  So the question you should always ask in currency is, by what standard is your currency tied to?
[00:14:22]  By what standard?
[00:14:24]  Now, as we got off of the gold standard, it just didn't happen overnight, by the way.
[00:14:30]  It was many years coming.
[00:14:32]  In fact, it was decades of work to get us off of the gold standard.
[00:14:37]  So as we continued this transition, it became irresistible.
[00:14:42]  The temptation was unavoidable for politicians to say, hey, if we can kind of just create money out of thin air and we're not tied to a gold standard, why don't we just get the Federal Reserve to lower rates a little bit every single time the economy goes bad?
[00:14:57]  I mean, we can just kind of loosen the joints a little bit.
[00:15:01]  So what happened, of course, is post-Depression era in the 1920s is Franklin Delano Roosevelt went all in on indulging this idea of cheap money.
[00:15:12]  Cheap money, widespread levers of currency manipulation allowed the Great Society program to be expanded.
[00:15:21]  However, the real, let's say, argument for the fiat currency came after Pearl Harbor.
[00:15:31]  When all the people in charge said, see, see how thankful we are that we're not on a gold standard?

=== Lindsey Graham on Fiat Currency Risks (13:51) ===

[00:15:36]  Now we can borrow as much as we want and create as much money as we want to create planes, to create aircraft carriers, to create munitions, to create supply lines, to create parachutes, whatever we need.
[00:15:47]  But then the war ended.
[00:15:50]  And the idea, the justification for the continuation of a fiat currency became harder and harder to be able to square until all the nations of the world depleted, starved, demoralized, came to a strong America and said, all right, we're going to put our bets on you.
[00:16:09]  We are going to put our eggs in the United States dollar basket.
[00:16:13]  But in exchange, you have to police the sea lanes.
[00:16:16]  You have to build bases on our continents.
[00:16:18]  And if there's a problem, the Americans better show up.
[00:16:20]  And we signed the deal.
[00:16:21]  We said, fine, you got it.
[00:16:24]  Now, we're going to explore further the history of this and then the real world implications.
[00:16:29]  What happens when all of a sudden, if the richest countries outside of America say, yeah, we don't want to use the dollar anymore?
[00:16:34]  What does that mean?
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[00:17:46]  Most Americans have not experienced a currency reset.
[00:17:50]  You wouldn't have unless you're 190, 109, and you remember what happened back then.
[00:17:57]  That our dollar has been so constant, our dollar has been so strong, our dollar has been so, let's say, exceptional for years that we haven't really thought much about it.
[00:18:13]  Well, our dollar bill is not based in anything.
[00:18:15]  It's based purely on the full faith and credit of the United States government.
[00:18:20]  So in simple economics, we know that dollars or money replaces the barter system.
[00:18:28]  So the barter system is very inefficient.
[00:18:32]  And also, it does not allow the needs and wants problem to be solved.
[00:18:36]  So for example, if producer Connor is a chicken farmer and he wants to be able to trade with me, but I don't want chickens and I'm a cantaloupe farmer and we want to be able to trade chickens for cantaloupes, but he doesn't want cantaloupes and I don't want chickens, then we can't trade together.
[00:18:54]  The other problem is that Connor has to sell his chickens before they perish.
[00:18:59]  So he has to find a buyer of chickens in time.
[00:19:03]  Dollar bills or value solve all of these problems, right?
[00:19:07]  So I can convert my cantaloupes to dollars and then I can go to Connor and trade for chickens or whatever else he might have.
[00:19:14]  So it's a replacement and it also allows perishing goods such as time and talent and things that you put on shelves that decrease with value over time, such as pastries or whatever, things that have expiration dates, you can immediately capture the value in an instant because then it becomes somebody else's responsibility.
[00:19:32]  By definition, it makes an economy 100, 200, 300 times more efficient almost immediately.
[00:19:38]  But it only works if you trust the piece of paper that is replacing the value itself.
[00:19:45]  It only works if you trust the piece of paper that you are exchanging cantaloupes for paper for or chicken for paper for.
[00:19:52]  As soon as that dollar bill, people look at it and say, wait a second, there's too many of those out there.
[00:19:59]  It's not that hard to go find those.
[00:20:01]  They're abundant.
[00:20:02]  They don't mean a lot.
[00:20:03]  That's inflation, by the way.
[00:20:05]  That's why prices go up.
[00:20:06]  When there's dollar bills everywhere and everyone has money, that's all of a sudden when you start to see hotel rooms go to $2,000 a night, which is what you're starting to see in some higher-end hotels across the country.
[00:20:18]  You start to see airline tickets from New York to San Diego go to $1,200 a ticket.
[00:20:26]  If everyone has dollar bills, they don't mean as much as they once did.
[00:20:32]  Now, the threat of the United States no longer being the world reserve currency, especially the petrodollar, is that I truly believe a major factor of our inflated stock market, a significant factor of the wealth that we enjoy, is speculative.
[00:20:53]  Who knows how much of the economy of that actually is?
[00:20:57]  But if the rest of the world starts to have a run, not on banks, but a run on America, and they say, wait a second, we want our money back.
[00:21:06]  We're going to go invest in the won or we're going to go invest in crypto.
[00:21:11]  What will that do for American domestic investment?
[00:21:14]  What will that do for your dollar?
[00:21:16]  How much of the stock market gains of the last couple years has just been a flight to safety to America itself?
[00:21:23]  So as Saudi Arabia comes out and they say, look, we might now accept the won instead of the dollar, that means the intermediary of America being necessary for international finance could very well crush the American economy as we know it.
[00:21:38]  All of this ties together.
[00:21:41]  You see, all of this is happening.
[00:21:43]  It's triggering a course of events because Vladimir Putin decided to illegally and immorally invade Ukraine.
[00:21:51]  So Putin invades Ukraine, and our reaction to it very well might determine the future of the American economy and our currency.
[00:22:01]  So if we want to continue to escalate the conflict in Ukraine, we have to be willing that other bad actors and the new marriage made in heaven or hell between China and Russia very well might now bypass the dollar as being necessary for trade and commerce.
[00:22:20]  So Lindsey Graham is on television banging the regime change drum against Putin.
[00:22:25]  Now, I want everyone to ask yourself this question because we have a lot of listeners on every side of this topic, and we have obviously been on the side of we must be very careful if we want to get involved in Ukraine at all for many reasons we've outlined.
[00:22:41]  But one of the questions I have for all of us listening right now, all you listening right now, is Ukraine and our involvement in Ukraine worth losing our status as the world reserve currency?
[00:22:56]  If it is, then you've made your position clear.
[00:22:59]  Because getting involved in Ukraine is putting at risk the financial stability of your livelihood, of everything you love.
[00:23:09]  They are directly connected.
[00:23:13]  The more that you sable rattle against Russia, the more you take them off the SWIFT system, the more you're incentivizing long, more, let's say, more visionary dictators than our own internal bureaucrats where they say, hey, why don't we just start bypassing the dollar?
[00:23:29]  You see, why would China want to do this before I play this tape of Lindsey Graham?
[00:23:33]  Well, if China can get off America as the world reserve currency, because then we have no economic sanctions against them when they go invade Taiwan, if China can go get their oil without having to convert it to dollars, then all of a sudden they can take Taiwan and the, let's say, the countermeasure, the penalty that we can put towards China, lessens almost immediately.
[00:23:56]  So as Lindsey Graham is banging the war drum, the regime change drum against Putin, I just have a question for Lindsey Graham.
[00:24:03]  And Lindsey Graham can come on the show at any time.
[00:24:05]  We'll be very fair to him.
[00:24:07]  Is it worth it?
[00:24:08]  Are you willing to make your constituents of South Carolina 70% poorer if this goes wrong?
[00:24:16]  And our government has a tendency to make sure everything goes wrong.
[00:24:19]  Play cut 54.
[00:24:20]  But I'm going to repeat what I've been saying.
[00:24:23]  It's time for Putin to go.
[00:24:25]  For 20 years, he's been a war criminal.
[00:24:27]  He's committed war crimes in Syria and Chechnya.
[00:24:31]  He has stolen his own people blind.
[00:24:33]  We gave him a pass.
[00:24:34]  And how can you be surprised that he's in Ukraine the way that we have, as a world, given him a pass?
[00:24:41]  So I agree with a lot of what Lindsay says there.
[00:24:42]  I mean, Putin's a total scumbag.
[00:24:44]  That's not what we're talking about here.
[00:24:45]  We're not talking about giving him a pass.
[00:24:46]  We're talking about whether or not you want to destabilize the entire financial system that the American order is built on.
[00:24:56]  So meanwhile, 42 out of 50 Republican senators wrote a letter to Joe Biden calling on him to work with Poland to send Soviet-era MiG-29 jets to Ukraine to aid its defense against Russia.
[00:25:06]  The letter calls on Biden to, quote, expedite the transfer, expedite the transfer of urgently needed air power.
[00:25:12]  The eight Republican senators who didn't sign the letter are Jim Inhoff, Bill Haggerty, Jerry Moran, Rand Paul, Mike Rounds, Mike Lee, Cynthia Lemmis, and Roy Blunt.
[00:25:21]  So for the 42 Republican senators that signed that letter, I'm just asking a question.
[00:25:26]  Have you thought through the measures and the countermeasures of all of our involvement in a 5,000-mile-away distant land?
[00:25:33]  So maybe all of a sudden the argument we've been making for a couple of weeks should start to make sense.
[00:25:38]  Which is, wait a second, there might be other ramifications at play here other than just kind of a family dispute of Russia and Ukraine.
[00:25:44]  Yeah, such as China looking at this as a signal to now get rid of the U.S. dollar and your entire stock market collapsing, the currency in your back pocket being worth half as less if all of a sudden the world leaders in the petrodollar collapses.
[00:25:59]  Western hegemony, as we know it, not just America, but the entirety of the West could be collapsed over a nation that most Americans cannot pinpoint on a map.
[00:26:11]  Is that worth it?
[00:26:13]  And I mean, how many of our leaders have actually thought through all of this?
[00:26:19]  Trey Gowdy and Brian Mast, we played a little bit of this tape yesterday.
[00:26:23]  This is the longer clip of them going back and forth.
[00:26:27]  And I have a lot of respect for Brian Mast.
[00:26:29]  He's a friend of mine.
[00:26:30]  I know people in his family.
[00:26:32]  And Brian Mast said, look, we need to do more against Russia.
[00:26:36]  Okay.
[00:26:37]  Have you thought about how this might implicate or impact the U.S. dollar?
[00:26:42]  Have you really gamed that out?
[00:26:44]  Play cut 16.
[00:26:46]  Hugh, I mean, it is hard to watch those images and not want to do something more.
[00:26:51]  I mean, is it really as simple as whether the missile lands on this side of Polish boundary line or that side of the Polish boundary line?
[00:27:00]  I don't think it can be.
[00:27:02]  I don't think that's who we are as a nation that we say, well, we could see 10,000 or far more Ukrainians indiscriminately killed and we won't do a thing.
[00:27:12]  But if the hair on the head of one NATO member gets touched, we're all in, all NATO members.
[00:27:19]  That's not who we are.
[00:27:21]  And that's not good for the security of the globe.
[00:27:24]  We need to go out there and say, these are the borders.
[00:27:27]  These are the parameters.
[00:27:28]  These are the, you know, not look at this the way that Biden, they called it a gaffe in the beginning when they said Biden was looking at this in terms of whether it was a major or a minor incursion.
[00:27:38]  I think what we really know is they were planning, trying to predict that this would be a minor incursion and they could brush it off without having to do anything.
[00:27:47]  No, we need to control the things that we can control and be strong in the face of all of this.
[00:27:53]  None of it is acceptable.
[00:27:54]  None of it is proportional.
[00:27:56]  None of it is rational.
[00:27:58]  And if we try to rationalize any of it, then Putin has already succeeded.
[00:28:02]  Every one of these decisions impacts the other.
[00:28:07]  So America is negotiating in Vienna, also with the Iranians.
[00:28:11]  We've covered this.
[00:28:13]  According to the report, the talks with China over the one-priced oil contracts have been off and on for six years, but have accelerated this year as the Saudis have grown increasingly unhappy with the decades-old U.S. security commitments to defend the kingdom.
[00:28:27]  The Saudis are very angry at the United States' lack of support for the intervention in the Yemeni civil war and over the Biden regime's attempt to strike a deal with Iran over its nuclear program.
[00:28:37]  Saudi officials have said that they were shocked by the precipitous U.S. withdrawal from Afghanistan last year.
[00:28:43]  So we're negotiating with the Iranian elite, who the Saudis hate, Shias versus Sunnis.
[00:28:49]  They hate each other.
[00:28:51]  We're going to give Iran basically what they want.
[00:28:53]  Why?
[00:28:53]  Because we want oil.
[00:28:54]  Why?
[00:28:54]  Because we won't drill our own oil in the Permian basin of the Balkan Shale.
[00:28:57]  Why?
[00:28:58]  Because Greta Thunberg basically is running our entire energy policy.
[00:29:01]  Why?
[00:29:02]  I don't know.
[00:29:03]  Figure that one out.
[00:29:05]  Because the ideology has captured the entire philosophy of our elite.
[00:29:10]  So Saudi Arabia is like, okay, wait a second.
[00:29:12]  You're giving Iran whatever they want and you want us to go bail you out because you guys are so weak.
[00:29:17]  Yeah, we're going to go deal with the Chinese.
[00:29:19]  Thanks for shopping.
[00:29:21]  The whole world is basically seeing Biden and his entire regime as feckless and unserious.

=== Escalating Debt and Energy Policy (07:09) ===

[00:29:27]  So every other country is now going into self-preservation mode.
[00:29:30]  Every country.
[00:29:31]  Saudi Arabia is like, okay, we can't trust America.
[00:29:33]  We'll go to China because maybe China will help us against Iran.
[00:29:38]  Every one of these decisions impacts the other.
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[00:31:01]  For every action, there's an equal and opposite reaction.
[00:31:04]  And sometimes an action can cause a change, a course of events or a change of the way of life.
[00:31:12]  Sometimes things can escalate out of control, and not just in the kinetic war sense, but also in the financial sense.
[00:31:21]  So now we're seeing China and Saudi Arabia potentially wanting to do deals outside of the U.S. dollar.
[00:31:27]  It would basically indict and jeopardize the petrodollar as we know it.
[00:31:31]  Jerome Powell is coming out and basically playing into this, saying, look, there might be another world reserve currency sometime soon.
[00:31:39]  Now, when I got started with Turning Point USA 10 years ago, I started to speak all across Chicago Tea Party meetings with many good friends, some of whom are listening right now, and we were warning about the national debt.
[00:31:54]  10 years ago, back in 2012, we were worrying about our then $12 trillion debt, that America would lose the ability to be able to have a strong dollar, and therefore the purchasing power of the everyday American would disappear, and our ability to be able to apply sanctions or to be able to protect the American worker would deteriorate.
[00:32:17]  The U.S. national debt, as I look at it right now at usdebtclock.org, is $30.3 trillion.
[00:32:23]  We've talked about the debt relentlessly here on this program.
[00:32:28]  I'm a massive admirer of President Donald Trump.
[00:32:31]  However, I've said many times that the deficits that he ran, I think, were the most regrettable part of his presidency.
[00:32:37]  We should stand for balanced budgets at every single term.
[00:32:40]  Balanced budgets for families, balanced budgets for churches, balanced budgets for cities, balanced budgets for nations.
[00:32:45]  Why?
[00:32:46]  Because we live on team reality.
[00:32:48]  We don't believe in indebting people in future generations that have a lower standard of living.
[00:32:53]  It is a moral argument.
[00:32:56]  In fact, if we want to make sure that children aren't exposed to Drag Queen Story Hour, if we want to make sure that children aren't exposed to these ridiculous ideas in classrooms in Florida of the kind of perverse grooming, then that sort of impulse to want to make sure your kids are protected should also try to drive you to make sure that you balance our budget.
[00:33:18]  But we're not.
[00:33:20]  We are borrowing this year $2.6 trillion.
[00:33:26]  That's just our deficit.
[00:33:27]  That's our annual spend.
[00:33:29]  That's our annual burn rate, I should say.
[00:33:33]  The U.S. federal tax revenue will be $4.1 trillion, which is about $12,356 of taxes per citizen.
[00:33:42]  I'm definitely paying my fair share.
[00:33:44]  It's a little more than that.
[00:33:46]  And the U.S. federal spending is $6.7 trillion.
[00:33:50]  So all of this plays together.
[00:33:52]  How?
[00:33:52]  Well, it's because as we borrow against ourselves and we are not as strong financially or fiscally, all of a sudden we lose leverage to then call the Saudis and say, cut it out.
[00:34:05]  We're kind of now more in a groveling position where we're now not able to tell the Saudis to cut it out to do deals with the Chinese.
[00:34:13]  Need I remind you the very same Chinese that infected the entire world with a pathogen from their laboratory and lied about it and covered it up and came out stronger and richer than ever before that killed 800,000 of our citizens and millions of people across the world.
[00:34:27]  Yeah, that China.
[00:34:30]  But now the Chinese Communist Party is starting to see, huh, the dollar is not once what it was.
[00:34:34]  They have double-digit inflation domestically in America.
[00:34:39]  And if we want to be able to take Taiwan, if we want to be able to flex the muscle of our Belt and Road Initiative, we have to go build a separate highway outside of America, a separate transfer portal to be able to exchange U.S. dollar bills, get rid of that, and change the won for oil.
[00:35:02]  The generational theft that is embedded in the deterioration of our dollar is now playing out in world and geopolitics.
[00:35:14]  And amazingly, the straw that broke the camel's back, the moment that is now revealing all of this is not just the Chinese coronavirus, but it's our willingness to go get into a war 5,000 miles away and not having the mature leaders to ask the question, what's the cost, and just sit down in a room with a whiteboard with your phones off and say, huh.
[00:35:40]  Putin's probably not dumb.
[00:35:42]  So if we do this and we sanction him, he's going to do that.
[00:35:46]  And then China might do that.
[00:35:48]  And then we don't have the dollar.
[00:35:50]  Has any leader done that?
[00:35:52]  Has any one of the people running the decision-making process or apparatus in our government sat down like a mature, wise, or prudent individual and thought this through beyond the immediate tweet, beyond the immediate passionate one-liner?
[00:36:09]  Our leaders are flirting with destroying the U.S. dollar permanently.
[00:36:15]  And most Americans have no idea it's actually happening.
[00:36:20]  Thanks so much for listening, everybody.
[00:36:21]  Email us your thoughts as always freedom at charliekirk.com and get involved with Turning PointUSA at tpusa.com.
[00:36:27]  Thank you so much for listening, everybody.
[00:36:28]  God bless.
[00:36:32]  For more on many of these stories and news you can trust, go to CharlieKirk. com.