PBD - Patrick Bet-David - Iran Threatens Trump As Tariff Trade War RAGES | PBD Podcast

April 8, 2025 - PBD - Patrick Bet-David

02:18:21

Iran Threatens Trump As Tariff Trade War RAGES | PBD Podcast | Ep. 572

Patrick Bet-David, Tom Ellsworth, Vincent Oshana, Brandon Aceto, and Adam Sosnick cover the Supreme Court ruling in favor of Venezuelan migrants under the Alien Enemies Act, Donald Trump doubling down on tariffs as China vows to 'fight to the end,' and a new book claims Barack Obama's greed destroyed the Democratic party. ------ 🐶 THE VT PET COLLECTION: https://bit.ly/3RGNANG 👕 GET THE LATEST VT MERCH: https://bit.ly/3BZbD6l 📕 PBD'S BOOK "THE ACADEMY": https://bit.ly/41rtEV4 📰 VTNEWS.AI: ⁠⁠⁠https://bit.ly/3OExClZ 🎙️ FOLLOW THE PODCAST ON SPOTIFY: ⁠⁠https://bit.ly/4g57zR2 🎙️ FOLLOW THE PODCAST ON ITUNES: ⁠⁠https://bit.ly/4g1bXAh 🎙️ FOLLOW THE PODCAST ON ALL PLATFORMS: https://bit.ly/4eXQl6A 📱 CONNECT ON MINNECT: ⁠⁠https://bit.ly/4ikyEkC 👔 BET-DAVID CONSULTING: ⁠⁠https://bit.ly/3ZjWhB7 🎓 VALUETAINMENT UNIVERSITY: ⁠⁠https://bit.ly/3BfA5Qw 📺 JOIN THE CHANNEL: ⁠⁠⁠https://bit.ly/4g5C6Or 💬 TEXT US: Text “PODCAST” to 310-340-1132 to get the latest updates in real-time! TIME STAMPS: 00:00 - Podcast intro 01:13 - Topics coming up on the podcast. 05:08 - 🐶 THE VT PET COLLECTION: https://bit.ly/3RGNANG 08:04 - Dow drops by 2,200 points due to Trump tariffs. 28:08 - China vows to fight to the end over 50% tariff threat. 56:48 - New book claims Barack Obama destroyed the Democratic party. 1:16:03 - Mark Cuban says Americans aren't ready for trans athletes. 1:27:13 - Supreme Court rules in favor of Trump's deportations. 1:44:04 - Iran threatens to assassinate Donald Trump. 2:08:15 - Trump urges Jerome Powell to cut rates. SUBSCRIBE TO: @VALUETAINMENT @ValuetainmentComedy @theunusualsuspectspodcast @bizdocpodcast ABOUT US: Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.

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	Did you ever think you would make it?
	I feel like you take sweet victory.
	You know this life means for me.
	Adam, what you hear?
	The future looks bright.
	My son's right there.
	I don't think I've ever said this before.
	I don't know.
	I may have done that.
	Well, we'll figure it out.
	Folks, how you doing?
	We got a special guest here on the podcast.
	You'll see him in a minute when he joins us.
	But we also have Brandon Asseto here with us.
	By the way, he's speaking on behalf of those in their 20s, and he is sick and tired of what's going on with the market.
	He wants a chance.
	He's going to give some data to you today.
	That's going to be very interesting.
	I know what the numbers are.
	I'm not going to share it.
	I want him to tell you on what's happened.
	What it takes, the average salary.
	I'm sure you have that data.
	What it takes, the average salary of somebody to buy one share of the S ⁇ P today versus 20 years ago, 40 years ago, 60 years ago.
	Very, very interesting.
	And he's got a good point.
	And we should listen to what he has to say.
	For the rest of us in our 30s, we have different perspectives in here, right?
	And we'll cover that.
	But we got a lot of stories to go through here.
	The tariffs is causing mayhem.
	Everybody thought Monday was going to be Black Monday.
	It didn't end up becoming Black Monday.
	But that doesn't mean there's not a Black Tuesday or Black Friday or Black Thursday around the corner as they're going through this negotiation, especially after China said we are going to the very end.
	We're not going to cave at all.
	So we're going to cover those stories.
	Number one, 2,200 points, Dow drops in a single day.
	$6.4 trillion is wiped out in a two-day bloodbath as China declares trade war over Trump tariffs.
	I cannot tell you how many Manets I've gotten specifically asking about what should I do with my investment portfolio, et cetera, et cetera.
	And I have my own opinion on it.
	But so $6.4 trillion scares a lot of people.
	By the way, you know what $6.4 trillion is?
	That's like $6,400 people losing a billion dollars.
	That's 64,000 people losing $100 million.
	That's 640,000 people losing 10 million.
	That's 6.5 million people losing a million.
	You're really showing your mouth skills.
	Mostly what I'm trying to tell you is $6.4 trillion loss is a lot of money for a lot of people like that.
	So we'll cover that.
	China retaliates with 34% tariff on U.S. imports.
	Italy warns against counter tariffs on U.S. calls for budget leeway.
	Tom's got a very, very good angle on that one.
	He'll cover with you guys.
	Vietnam ready to remove U.S. import tariffs as it seeks to delay Trump's 46% levy.
	Trump urges Americans to hang on to tariffs plan as markets tumble.
	Legendary economist says Trump's tariffs could replay devastating history.
	State-controlled Iranian newspaper calls for firing bullets into Trump's empty skull.
	This is Fox News story.
	We'd lose the war, Tucker Carlson warns against bombing Iran as tariff war, tanks, markets.
	Trump calls for Fed's Powell to cut interest rates and stop playing politics.
	Jerome Powell predicts when Americans will feel ripple effects from Trump's global tariffs.
	Jerome Powell predicts when Americans will feel it.
	So not everybody's on the same page.
	Eric Adams ditches Dem's primary to seek re-election as independent.
	Eric Adams had some interesting things to say.
	He was on the, what do you call it? The Andrew Schultz, the flagrant podcast, and it was actually a very good interview.
	Mark Cuban weighs in on transgender athlete and women sports.
	Mark Cuban says, we're just not ready for it.
	People are just not ready for it.
	I mean, people are not ready to have men compete with women.
	Maybe that's going to be forever, you know, that we're not going to be ready for it.
	But maybe Mark's got additional ideas we don't know about.
	He also warns that Trump's tariffs plan plus Doge cuts could lead the country to a far worse situation than 08.
	Musk breaks with Trump on tariffs as he distances from the White House.
	And we got a few other stories.
	If you guys are looking for a good podcast, Michelle Obama's podcast is not doing that well.
	But if you were interested, you could check that one out.
	Kamala Harris was completely shocked by election night loss to Trump after she bought the hype.
	Can you imagine?
	Like she was convinced she was going to win and she was upset at the people that told her that you were going to win.
	So whose fault is it?
	And then Barack Obama destroyed the Democratic Party by competing for power and money with his own organization.
	This new book that just came out.
	It's not holding back with those guys.
	And we got a couple other stories that we'll cover here as well.
	Supreme Court clears ways for Venezuelan deportations to resume South Korea eyes boosting energy import to cut surplus.
	Vinny's got some stuff he wants to say about what Bill Burr said, as well as Taylor Lorenz, disappointed to learn Joe Biden didn't die on Saturday.
	It's pretty strange to say something like that.
	And a few other things.
	Scott Besson says up to 70 nations are wanting to negotiate.
	And there's some nuclear talks that's going on here as well.
	Now, for those of you that are watching this, we'll cover all these stories here.
	We've got a lot of stuff that's going on.
	Are you a dog person or a cat person?
	We know this guy's a cat person, Adam.
	I have a special guest here today.
	If you can bring him in, this is my number one therapist for the last 16 years next month.
	This is our buddy Jimbo.
	Jimbo?
	Jimbo is going to be 16 years old next month, and he's wearing, Jimbo, can we show off what you got on?
	He's got a Future Looks Bright shirt back here.
	And because it is, what is it, the National Pet Day Rob?
	Can you pull that out?
	That's Friday, National Pet Day.
	National Pet Day is Friday.
	We got this gear for you that our merch team thought it was a good idea.
	Okay, I want to show you this.
	So if you guys, honestly, if this sells out, I'm going to personally give credit to the merch team to come up with these ideas.
	And I will say, this is their idea if it goes lights out.
	Okay.
	Now, what do we have here?
	A few different things for you to pick from with Future Looks Bright.
	Frisbee rope toy.
	This is one.
	We have this tennis ball.
	What does it say?
	Tennis ball sling toy.
	We have this other one.
	This is sick, actually, if you look at it.
	This is the biting, you know, the dog toy, you know, what the leash is that we got with Future Looks Bright on it and Value Tammany.
	This is the best thing on it.
	Gangster.
	This is the gangster if you're from LA, New York, maybe Baltimore.
	Pick this up.
	We got some of this stuff.
	And on top of that, if you go, by the way, look at that Yeti one.
	Can you zoom into that Yeti one?
	Is that like a Yeti, like a Yeti?
	Paul's a dog ball?
	Yeah, look how sick that is.
	I saw Vinny drinking out of the book.
	Your dog will be excited when he's going through this.
	Go back, Rob.
	So let's place an order on one of the things so they can kind of see.
	Let's place an order on this, hypothetically.
	If you buy this, watch what happens.
	Okay.
	So you buy this 15 bucks.
	You add it to the cart.
	Then it says here, are you Team Wolf or Team Meow?
	So you're going to get a value attainment mug that says Meow or Wolf, depending on if you're a dog person or a cat person.
	Obviously, Adam goes with Meow and Vinny would go with Wolf, but some of us actually like dogs and cats.
	But anyways, if you got animals, if you got dogs, go place an order for National Pet Day.
	Future Looks Bright.
	I never forget one of the shows I watched cartoons that it said all dogs go to heaven with the character Charlie.
	You remember that?
	What a great movie, right?
	You cry all the time.
	You love dogs, you got dogs, place an order.
	Future looks bright, not only for us humans, but also for dogs.
	Okay.
	All right, Jimmy, can you take this guy now?
	Yeah, take my because he's got strong opinions about tariffs right now.
	Yeah, so you don't want to hear him.
	These items were live show for two years.
	And now shout out to Kelly.
	We actually had a very big debate.
	We're not on the same page with tariffs.
	He's not happy about it.
	No?
	No, he's not.
	He wasn't happy about it.
	He wasn't happy about it You know When we were You know what was his biggest turn When he no longer Was supported with Trump Was What scared him?
	What?
	Christine Om.
	What happened when the story was?
	He was kind of like, I can't.
	He was afraid.
	He was shaking.
	I'm like, she's a good lady, but she's a hunter.
	Like, you don't have to worry about that, but he's going to be okay.
	He's going to be okay.
	Yeah, that's right.
	All right.
	So let's go through the stories here on what we got.
	I think it's fair to say, Rob, we start off with the market and tariffs.
	What do you think?
	All right, let's go through this.
	Dow is down 2,200 points as $6.4 trillion is wiped out in a two-day bloodbath as China declares trade war over Trump's tariffs.
	This is an April 4th story from New York Post.
	Okay.
	So let's go through this here.
	Is this on page?
	It says page.
	Okay, it's page three.
	Let me read this to you.
	The Dow Jones industrial average plummeted more than 2,200 points on Friday following 1679 previous drop, marking its worst session since the start of COVID 2020 as Wall Street's bloodbat erased $6.4 trillion of market value just in two days due to China's retaliatory 34% levy on U.S. imports starting April 10th.
	In response to Trump's reciprocal tariff plan, imposing a 54% tax effective April 9th, the tech-heavy NASDAQ fell 962, 5.8%,
	entering bear market territory with a drop exceeding 20% from its December peak, while SP 500 declined 322 points or 5.97 amid global stock market descent, driven by fears that Trump's 10% baseline tariff with harsher rates for many nations could stoke inflation and trigger a recession as noted by Federal Reserve Jerome Powell, who warned of a potential persistent risk in inflation.
	Brandon, your thoughts on this story?
	Yeah, so a lot to cover here.
	So, I mean, first and foremost, I'm super happy that the market's starting to go down.
	I think, honestly, you know, people are going to hate this, but I think the best case scenario for the most people would be if the market goes down by something like 50%.
	50%.
	Yeah, because I mean, 10% of people own 90% of the stock market.
	So the vast majority of people who own the stock market are the top 10%.
	And, you know, 50 years ago, I looked this up.
	So what would you guys imagine it took for amount of hours worked to buy a share of the S ⁇ P 500, say 1970?
	What would you guess?
	20 hours?
	Yeah, no, exactly right.
	Is it really?
	Yeah, right.
	You know what it is today?
	60.
	170.
	To what?
	To buy one share of the S ⁇ P 500?
	You need to work 170 hours today to buy one share of the S ⁇ P 500, but you had to work 20 hours 50 years ago to buy a share of S ⁇ P 500.
	I have my opinions, but I want to hear it.
	Keep going.
	Yeah, no.
	So, I mean, we've, and this goes into what we did with China.
	Like, you know, so when we got off the gold standard, when we started offering our jobs to China, that's where the wealth gap really widened between the working class of America and, you know, the people who run companies in America, like because profit margins got bigger and then wages didn't keep up with the stock market growth.
	So we've essentially like decimated our middle class.
	And, you know, for young people too, like, I've been waiting to buy the dip for 15 years now, and there hasn't been a dip to buy.
	You know, some people might say like COVID, but that we just pumped money into the economy right away.
	Some people might say 2008, but we did quantitative easing right away after that.
	So we're just turned 30.
	Just turned 30.
	So 15 years was 15 years ago.
	Yeah, I've been waiting to really feel like I could buy the dip for 15 years and it hasn't come.
	15 years old, you were looking at investing.
	Good for you.
	I was just thinking about it.
	So, okay, so a part of what you're saying is the gap between the poor, middle, upper, and the rich keeps getting wider and wider and wider.
	Okay.
	And you wanted to see a massive market crash taking place, maybe a correction for you to get in so you can get at a decent price.
	That's kind of what you're talking about.
	Yeah.
	And so that everybody could, and keep in mind, too, the market is way higher than it should be.
	Like essentially, the boomers.
	I think it's higher than what it should be.
	Yeah, the boomers and Gen X have essentially stolen the future from the millennials and Gen Z by pulling wealth forward to themselves that belong to the future.
	So, you know, it's 36 trillion.
	Like all the deficit spending we do, that's been pulled from the future away from people who haven't even been born yet and put into the stock market, essentially.
	Tom, what do you think about this?
	Well, I think whenever you have an equation like this, and thank you for doing the research, that's good.
	So the number of hours was 50 years ago, right?
	Was 20 hours to buy one share of S ⁇ P. Today, with S ⁇ P at, what, 520 or 490 or wherever you are floating around right now, takes 170 hours.
	So that's 8.5x, right?
	Right.
	What was the PE ratio of the S ⁇ P going back then?
	It's usually in the ballpark of, what, 20 to 30?
	Okay.
	Well, actually, under Jimmy Carter, it was 7 to 9.
	And under Ronald Reagan, it was 10 to 13.
	That was the PE ratio if we want to go back that same time.
	In January, the PE was 29.
	And right now, the PE, and I'm saying, of the S ⁇ P is 24.
	So wages is the problem because it's 8.5x in the number of hours, but the PE ratio is barely 3X.
	And actually, 2X, if you just go from Reagan, from like 10 to 13, that would be 20 to 26.
	Well, right now, it's 24, and it was 29 beginning of this year.
	You go back to 2016, it was 22, 24, 25, the three years going into COVID.
	So I think you make a point, but it's not that the market is too expensive.
	It's that overall that time, wage growth for the middle class did not keep up.
	And as a result, an 8.5 difference in the middle class number of hours when the PE ratio is really only doubled plus.
	Yeah.
	Yeah, because that revenue has gone to corporations that have offshored their jobs and saved a ton of money on production costs instead of going to decent paying jobs.
	So I think that the tariffs are going to solve two problems at once.
	It's going to bring the market down to a reasonable level and it's going to bring better jobs back to America and pull some money away from corporations because they've essentially taken money from the workers to themselves by offshoring these jobs.
	Let me ask you, when you did 50 years ago, was 20 hours?
	Was that 1970 or 1975?
	Because that's a big difference.
	1970.
	And then it eventually goes to 40 hours worked.
	And then by the 90s, it gets to 66 hours to buy the S ⁇ P.
	So, okay, if you go in 1970, obviously a couple major events took place.
	We've talked about this multiple times.
	We went off the gold standard with Nixon.
	We allowed China to come in.
	Gradually, the whole ping pong, you know, and then in the World Trade Organization, China gets involved.
	And then for us right now, like the supplies that we have, if you go on Trump store, all this stuff is not made in the U.S. You see, made in China, made in Singapore, made in this, made in that.
	Why?
	Labor has to compete for us to bring a lot of the stuff here.
	You know, you're like, what am I going to do?
	Am I going to have to compete?
	Because America is not known for a lot of the products to manufacture.
	We've went away from that.
	We need to get back into that.
	So somebody needs to sit there and say, how do I make that competitive in America?
	We've missed the mark there.
	And at the same time, the one thing once we went off of the gold standard, what happened?
	Debt became so easy.
	So people could raise debt and take a business and grow it.
	And then, so if somebody has access to debt, somebody leverages debt, somebody risks with that, the other person doesn't, the disparity of the wealth is going to get wider and wider and wider.
	The part that they haven't yet figured out is what to do with the median income, because that's definitely not growing.
	And that should be a concern because some of these guys cannot afford houses.
	So either income needs to go up, correction needs to happen, or people need to go and live in a rural, you know, in a place that no one knows about and turn it into a next Frisco, turn it into a next Palmdale, turn it into a next whatever city that may be.
	And that's a valid concern.
	Do you think that we have to compete with labor, though?
	Because I almost think that tariffs have to protect us against this cheap slave labor from other countries.
	Because, you know, we could compete with other countries in terms of putting tariffs on them when they have tariffs against us, but labor, how are we ever going to compete with like Cambodia and China for labor?
	Because they could essentially make people work at slave wages, but we're not going to do that here.
	Well, once you open, my opinion, once we opened that up and we went into that space, do you know what would happen?
	So think about it this way.
	When everybody says Trump's for the rich, okay, you said something earlier.
	You said 90% of the what, equities is owned by what?
	10%.
	10%.
	So who is Trump really hurting?
	Yeah, he's hurting the rich.
	He's not hurting.
	He's hurting the rich.
	So the rich are being, the rich are the ones.
	Even Musk is a little bit like, hey, you know, I don't know if you have that clip, Rob.
	Yeah, he hasn't made it.
	You know, let me read this.
	And then, you know, Musk breaks with Trump on tariffs as he distances from the White House.
	Now, whether there's truth on this or not, who knows?
	But, Rob, can you play this clip?
	Go forward.
	I hope that the United States and Europe can establish a very close partnership.
	We obviously are, there's an alliance already, but I'm hopeful that there can be a very close relationship with America and Europe.
	And I'm hopeful, for example, with the tariffs, that at the end of the day, I hope it is agreed that both Europe and the United States should move, ideally, in my view, to a zero tariff situation, effectively creating a free trade zone between Europe and North America.
	And that would be my, that's what I hope I hope occurs.
	And also more freedom of people to move between Europe and North America, if they wish.
	If they wish to work in Europe or wish to work in America, he says this, right?
	They're not to do so.
	Can you do me a favor, Rob?
	Go online, type in Tesla sales by different markets, Tesla sales by different regions, and then just go to news.
	Go to Tesla sales by different regions.
	Go to news.
	Go to the third story.
	Okay.
	Look at this here.
	Go a little bit lower, Rob.
	So just right there.
	Tesla sold 45% fewer cars in Europe last month compared to January of last year.
	So that's he's, you understand, which 45% fewer?
	That's not 4% fewer.
	That's not 10% fewer.
	So let's just say the stock does bad, but your sales are high.
	You're fine.
	It's not that the stock's down.
	It's the sales are down 45% fewer in Europe than last month.
	Then BEV sales grew by 37%.
	That's the China car.
	That's like a $9,000 car, reaching a market share of 16.7%.
	And self-charging hybrids are Europe's favorite powertrain type with a 34.9%.
	So Musk is sitting here.
	I think sales in China is down 29%, if I'm not mistaken.
	Europe, he's down 45%.
	And he's down in the U.S. as well.
	So this is affecting a lot of people that are actual big businesses.
	They're concerned about what this is going to do with the tariffs.
	But even Musk, right, I'll read this.
	Elon Musk publicly diverts from President Trump's on terrifying advocating at a virtual rally for Italy's deputy prime minister Matteo Salvini.
	I hope that the United States and Europe can establish a very close relationship.
	Both Europe and the U.S. should move ideally, in my view, to a zero tariff situation, which is what he just talked about here.
	So we'll see what's going to happen there.
	And then he continues talking about possibility of Peter Navarro on X writing a PhD in e-comm from Harvard is a bad thing, not a good thing.
	And he aimed to build shit after Navarro defended the tariffs on CNN, saying we're trying to do under the principle that the president wants to charge those countries what they charge us.
	So there's a little bit of a rift here with this situation.
	So we're going to see what's going to happen there.
	Adam, you wanted to say something.
	I just want to get back to one point that Brandon made because you're a young guy.
	You're a smart guy.
	I was sort of a little bit younger than you when I really started investing in the stock market.
	So are you saying that you have not started investing yet?
	Because you're just waiting for the dip.
	You said I've been waiting 15 years.
	So you just haven't started investing yet?
	No, so I mostly have done day trading type of stuff for the last 15 years.
	And I have small investments here and there, but like just straight up putting money in the S ⁇ P every week.
	I haven't done that at scale.
	How have you done by day trading?
	How's it done for you?
	The biggest benefit from is I've learned a lot.
	Like I can't say that I've done like insanely well day trading.
	It's a tough thing to do.
	I think you're a sharp guy, but here's where I'll tell you that more is caught than taught.
	So what you're doing is sort of acting on hypotheticals.
	What I've been able to do and what Pat and Tom's been able to do is actually invest in the market.
	So actually experience the ins and outs, the ups and downs, the reds and greens of the market.
	I started in 2008.
	Oh, perfect.
	Yes.
	Exactly.
	It's a little bit different.
	Well, no, because it's not timing the market.
	It's time in the market.
	If you're sitting around and just waiting to buy the dip, waiting to buy the dip, you've had opportunities, buddy.
	You could have done it in, you said you started investing in 2009, 15 years ago.
	You said 2010.
	Market was down then.
	You could have done it in 2020.
	So if you're trying to time the market, you're going to be waiting for the perfect time forever.
	So it's not about timing the market.
	It's about time in the market.
	So, you know, you said something pretty shocking.
	Like you're praying for a 50% downturn in the market.
	Well, there's going to be older people out there that are like, are you kidding me, bro?
	You want your grandma to go poor?
	We don't want that.
	But they stole it from us, though.
	All right.
	Well, you sound like a victim.
	And I've heard that before on this show.
	No, just the numbers.
	But at what point are you going to just buckle down and just say, I'm a smart guy.
	Let me play the long game and just start investing.
	Because I've seen so many people do what you're doing.
	Like, I'm going to wait for the perfect time.
	I'm going to wait for the, there's no perfect time.
	There's no perfect moment.
	If you generally started investing 15 years ago and gave up the day trade nonsense and just decade trade, you'd probably have tens, if not hundreds of thousands of dollars right now.
	So for someone like you, buy the dip now and let's see where it is in 10 years.
	So you think that's how you invest.
	You think it's a dip.
	Here's what I know about the market.
	If you pan out, America, the American economy, SP 500 always wins.
	If you follow day to day, here's what I guarantee, just because I've seen this a thousand times.
	Go Max.
	Here's what I've seen a thousand times.
	Go macro trends for years.
	It was bloodbath a couple days ago.
	I guarantee you today is going to be green.
	It's up to you.
	There we go.
	Just because I've seen this before.
	More is caught than taught.
	I used to look at the market every day.
	And when it's actually your money and not hypothetical woozies and floozies and woozies, you actually notice, oh my God, I made 20 grand today.
	Oh, I'm down 18 grand today.
	I made 50 grand today.
	I'm down 70 grand today.
	It's actual money.
	And you actually learn how to invest in the marketplace.
	Without that, you're just talking about what ifs, what ifs, what ifs.
	So my advice to you is put some money where your mouth is.
	Put some money in the market and watch it grow.
	You can do this.
	Would you agree, though, that we've prevented ourselves from having a legitimate recession or even a legitimate downturn for everyone?
	15 to 20 years.
	Here's the challenge that I have.
	Everyone's, you're trying to solve for what the American economy should do.
	Don't worry about the American economy.
	You know who's the economy you should worry about?
	Your economy.
	I am.
	That's what I'm talking about.
	Trends are by the top.
	Okay, but you've been waiting 15 years.
	Well, I mean, realistically, I should have like, yeah, I got in during COVID, but I didn't know what to do.
	Where was Dow Jones at 15 years ago, Rob?
	Just go where Dow Jones.
	Macro trends is a good chart.
	It shows 90 years.
	Go to macro trends.
	Macro trends.
	So where do you want them to go?
	There's a 90-year chart.
	So just go to Dow Jones.
	Just go back where you were at, Rob.
	I mean, the way you're going, it's going to take you a minute.
	Just go back doing what you were doing.
	You were fine where you were at.
	Yeah.
	Okay.
	So 15 years ago, does it go 15 years?
	Yeah, 2006.
	Go to 15 is 2010.
	Where was the market at 2010?
	It was probably like at 15,000 on 2000.
	It's right there.
	It's grown 300%, brand.
	Yeah, from that point on, yeah.
	So I guess maybe like 10 years is a better to say, but 10 years, go to 2015.
	Even 2015, it's 2x, more than 2x.
	The whole time, though, we're pumping QE into the market.
	So it just like it felt fragile at the time.
	So sorry for being skeptical when we're just propping it up.
	I'm not quantitative easing.
	Just to be clear, I'm not trying to rip you one.
	I'm trying to encourage you.
	No, I said you're solving for macro trends.
	Just put your damn money in it and figure it out.
	One last point.
	Pat, you'll remember this.
	COVID happens.
	March, you talked about this.
	You were on Jesse Waters yesterday.
	I've seen incredible takes.
	Rudy Gobert, NBA canceled, NHL canceled.
	What's going down?
	Everyone's freaking out.
	The market's going down.
	What do we do?
	I think the market was maybe at 25,000, 20,000, cut in half.
	Everyone is like, I should have sold.
	Oh, my God.
	What should I do?
	Six months later, I'm in the beautiful city of Addison, Texas, talking about Dow just reached all-time highs, 30,000.
	And six months later, it bounced back.
	So it's going to bounce back if you play the long game.
	Let's do this, Rob.
	Go back to the, and I'm going to make the point here with Brandon for him to consider.
	Go back to the tweet you had with Peter Navarro and Musk, which I was reading earlier.
	If he can go to that.
	Okay, so watch this.
	Insurrection Barbie.
	I don't know who that is.
	Here's Peter Navarro explaining the tariffs.
	And contrary to the fake experts class that is usually on corporate media, Peter Navarro has a PhD in economics from Harvard.
	He also is not going to lie to you about what is happening to globalist agenda.
	Notice how he uses specific details instead of blank statements like chaos agent and destroying America.
	Do you have the clip rock?
	I do it.
	Yes.
	Play the clip.
	Let's see what he says.
	And then watch Elon Musk's response on the bottom.
	And this kind of ties into what you're saying, Brandon.
	Go for it.
	The economist tools, because it's based on concepts like export and import demand, elasticities, currency adjustments, and things like that.
	But here's the analytical issue we're trying to do under the principle that the president wants to charge those countries what they charge us.
	As you pointed out, Vietnam has a tariff, applied tariff rate.
	It's much larger than ours, but doesn't come near the tariff we've charged them.
	So question is, how do you value the following, Phil?
	So let me count the ways.
	You got to value currency manipulation.
	You got to value the VAT tax distortions, dumping, export subsidies, technical barriers to trade, agricultural barriers to trade, quotas, bans, counterfeiting, intellectual property theft, and all of that.
	So here's the punchline.
	If you look at the trade deficit, which every country runs from us, the first thing economists should tell you, ask the next one you have on your show, should the UNS have chronic and sustained trade deficits?
	No, there's economic theory.
	They should not.
	So what the trade deficit does for any given country, it's the sum of all cheating.
	It's the sum of all unfair trade practices.
	And in a national emergency where the trade deficit itself is the national emergency and security threat because it takes our factories, our jobs, and transfers wealth abroad, the cyclical tariff is likely to be a good thing.
	Watch this.
	We can posit right there.
	Okay.
	So you see this.
	Go back to it.
	You know who disagrees?
	Elon Musk.
	It says a PhD and he come from Harvard is a bad thing, not a good thing.
	Result in the ego brains versus one problem, right?
	So now, who's right?
	Who's wrong when you see this here?
	Sometimes to get like, for example, you and I talk regularly every day.
	And I know who the guys are that you admire, the economists and all these other guys that are in that space.
	Sometimes when you are so, well read, you, what ends up happening is, what is that phrase, paralysis by analysis?
	That you eventually just don't take any action and you're arrested.
	You don't even know it.
	You're living in a prison.
	You don't even want to know.
	Like, for some, it's marriage because you have so much experience.
	For some, it's finances.
	For some, it's exercising.
	For some, it's buying real estate.
	For some, it's having a kid.
	For everybody, it's something, right?
	Because we have so much information here that we're worried about taking action.
	But, Tom, question.
	So I'm going to transition into this next.
	I thought that was a great exchange.
	And I think, Brandon, probably a lot of people feel like the way you do.
	And I actually really like what Adam had to say on what to do with this.
	But let's go to the next story with tariffs.
	So we'll come back to this.
	China retaliates with 34% tariff on U.S. imports.
	So this kind of goes in with what we just saw here.
	So the 34% imports, that's what caused the market to tank, right?
	And while that is taking place, Trump comes back.
	Rob, is that story today?
	So Vietnam is ready to remove U.S. import tariffs as it seeks delay to Trump's 46% levy.
	So Vietnam comes out and says, we're ready to negotiate.
	What do you guys want to do?
	Right.
	That's that story.
	And then Trump comes out and says, Rob, do you have the story of him putting the going even stronger on six?
	China says it'll fight today.
	Right, there you go.
	China says it'll fight till the end after Trump threatens 50% additional tariffs.
	This is from yesterday, okay?
	So yesterday, they're saying we're not going to back down and we're going to be negotiating with you till the very end.
	Okay.
	Cool.
	China's commerce ministry vowed to fight to the end after Trump threatened an additional 50% tariff on U.S. imports on China set for Wednesday on Les Beijing withdraws the 34% tariffs.
	From last Friday, the ministry said the U.S. threat to escalate tariffs on China is a mistake on top of a mistake and China will never accept it following Trump's 34% levy on top of 20% duties since February, pushing U.S. tariffs on China to 65% per Morgan Stanley.
	The People's Bank of China set the wand's midpoint rate at $7.2 per dollar Tuesday, the weakest since September 2023, signaling strain with Robin Brooks telling CNBC this is Beijing politely saying this is getting a little too much.
	We are putting you on notice.
	China's 34% retaliatory tariffs after Trump's moves, noting since China already faces more than 60% in tariff rate, it doesn't really matter if it goes up 50% or 500%, hinting at the readiness for a full trade war, saying 500%.
	Is this him responding to it, Rob?
	This is Donald Trump yesterday with Bibi Netanyahu from the White House.
	Okay, and they're talking about tariffs?
	Yes, the 50% tariff.
	Go for it.
	As you know, against my statement, they put a 34% tariff on above what their ridiculous tariffs were already.
	And I said if that tariff isn't removed by tomorrow at 12 o'clock, we're putting a 50% tariff on above the tariffs that we put on.
	So they've gone for years.
	They become a rich country because of people, again, that were in the White House that allowed this to happen.
	Hundreds of billions of dollars a year that make an unsolved trade.
	And it shouldn't be that way.
	And it's a great relationship.
	Rob, can you do me a favor?
	Go find a clip.
	And this is the part where a lot of this stuff is kind of coming together.
	Do you have the clip from Pelosi on China with tariffs?
	This is in 1996.
	Folks, if you've never seen this, you have to see this.
	Pelosi is talking about tariffs on how China, this is it, Rob.
	Watch this.
	But it's five minutes and 42 seconds.
	I'll find a shorter one.
	There's a shorter one, Rob.
	How long is that one?
	That's the same thing.
	Is it the same thing?
	Well, let's see how quickly she gets into it.
	Let's see how quickly she.
	Oh, I found one that is.
	Let me see if this is the one.
	You want to go?
	She's at the chart.
	Do you have the chart?
	I think if you click like a minute into it, it shows her at the chart.
	How far does China mention this?
	Go back a little bit.
	Perfect.
	Go for it.
	Watch this, folks.
	On the status quo that the business community is asking each and every one of you, each and every one of us, to endorse today.
	Right now, we have a $34 billion trade deficit with China, the 1999-95 figure.
	It will be over $40 billion for 1996.
	Since the Tiananmen Square massacre, this figure has increased 1,000% from $3.5 billion then to about $34 billion now.
	In terms of tariffs, I think it's interesting to note that the average U.S. MFN tariff on Chinese goods coming into the United States is 2%, whereas the average Chinese MFN tariff on U.S. goods going into China is 35%.
	Is that reciprocal?
	On exports, China only allows certain industries into China, of U.S. industries into China, and therefore only 2% of U.S. exports are allowed into China.
	On the other hand, the U.S. allows China to flood our markets with a third of their exports, and that'll probably go over 40%.
	And it's limitless because we have not placed any restriction.
	In terms of jobs, this is the biggest and cruelest hoax of all.
	Not only do we not have market access, not only do they have prohibitive tariffs, not only are our exports not left in very specifically, but China benefits with at least, at least 10 million jobs from U.S.-China trade.
	The president in his statement requesting this special waiver said that China trade supports 170,000 jobs in the United States, 170,000 jobs, whereas our imports from China support 10 million jobs at least.
	Fact is that U.S.-China trade is a job loser.
	And one of the reasons that it is, is because in order, well, first, let me just make another point, and that is that our colleagues on the other side of this issue will say that trade with China, exports to China have increased three times in the last 10 years.
	They have.
	But they failed to mention that exports, imports from China have increased 11 times, thereby leading to this huge trade deficit.
	The other issue, in addition, if intellectual...
	So, and then she gets into intellectual and a bunch of different things.
	This is Democrat Nancy Pelosi, 96, talking about what's going on with China.
	And if you go back and listen to what Trump said on Oprah Winfrey in 1988 when he talked about tariffs, that's exactly what he's been talking about.
	Trump's been talking about this with Oprah Winfrey since 1988.
	Is this a clip on tariffs?
	Yes.
	Go forward, Rob.
	Watch this, folks.
	Foreign policy.
	What would you do differently, Donald?
	Watch this.
	I'd make our allies, forgetting about the enemies, the enemies you can't talk to so easily.
	I'd make our allies pay their fair share.
	We're a debtor nation.
	Something's going to happen over the next number of years with this country because you can't keep going on losing 200 billion, and yet we let Japan come in and dump everything right into our markets.
	It's not free trade.
	If you ever go to Japan right now and try to sell something, forget about it, Alprid.
	Just forget about it.
	It's almost impossible.
	They don't have laws against it.
	They just make it impossible.
	They come over here, they sell their cars, their VCRs, they knock the hell out of our companies.
	And hey, I have tremendous respect for the Japanese people.
	I mean, you can respect somebody that's beating the hell out of you, but they are beating the hell out of this country.
	Kuwait, they live like kings.
	The poorest person in Kuwait, they live like kings.
	And yet they're not paying.
	We make it possible for them to sell their oil.
	Why aren't they paying us 25% of what they're making?
	It's a joke.
	This sounds like a political presidential.
	So the people that say Trump is, you know, he's just doing this, he's doing that.
	He's been on this position with tariffs since 1988.
	Tom, your thoughts here.
	What's going on with China, the tariffs, as well as the clip we play with Nancy Pelosi?
	Wow, there's a whole bunch of stuff.
	First of all, I'll take the easy one.
	The easy one is Nancy Pelosi.
	This is Nancy Pelosi in what I call PG mode, which I stand for as pre-globalist.
	As she moved to globalism, all of those positions you just say shifted away.
	This isn't Nancy in history.
	This is a different Nancy.
	This was Nancy truly looking out for the American worker.
	And a lot of union dollars were in that gold necklace there.
	A lot of union support was in her campaigns there.
	And when you move to a globalist agenda, you realize the truth that they subtly moved away from supporting America's unions and they took money from other things.
	So Nancy's easy.
	She moved to a globalist agenda.
	That sounds like Trump because it does sound like Trump.
	Now then, we go to China today.
	I find it very interesting that Vietnam, Taiwan, and Cambodia, the little tigers that were all wanting to help during COVID.
	I don't know if you remember, but they all spoke up and says, we'll help you with supply chains.
	We'll see what we could do.
	You know why?
	They wanted market share of that manufacturing.
	They're not saluting China, especially Taiwan.
	It's like, hey, we'll help you out.
	We'll manufacture.
	So Vietnam, Taiwan, and Cambodia.
	And last night, Scott Besson told Fox News it wasn't 50 countries, it was 70 countries that were ready to discuss.
	And that China had, excuse me, Japan had raised its hand early.
	And so it was going to be one of the first to the table.
	And because you raised your hand first, you came to the first.
	Guess what?
	You get to meet the teacher first.
	So I think there's a lot of international market share of manufacturing that's responding here.
	Now, the market likes that.
	Today, the market's up 3%.
	Everything's up 3% across the board.
	And before the market even opened today, the VIX was from 49 down to 41.
	And right now, I think somebody helped me.
	I think the VIX is 38, meaning that the volatility as measured by the inside of the market of the intensity, there it is, 38.
	The intensity of the market trading and change has dropped 10 points overnight.
	Why?
	Because the market loves what it heard from Vietnam, Taiwan, Cambodia, and the number 70, and the word Japan from Scott.
	Now then, that does not yet help the American worker.
	What will help the American worker is when the jobs come here.
	And that's a multifaceted issue that Trump is fighting.
	But the market likes it when we get back to some people cooperating.
	And by the way, you know who Ursula von der Leyen is?
	She's the president of the EU Commission.
	And she goes out and makes speeches when Macron and people don't want to make, because remember, they face the wrath of the media and the populace.
	So Macron comes out and makes a statement supporting Trump on tariffs.
	Look out.
	He's going to get slaughtered in the press and the people are going to be pissed.
	But Ursula von der Leyen, president of the EU Commission, can say to China this morning, she said it two and a half hours ago.
	I saw it.
	We had a phone call with China and I spoke to the premier and I cautioned them strongly on responding irrationally and too roughly to what President Trump is doing.
	So that is a very large trading market with China, calling them on the phone through their president of the EU Commission to say, hey, man, easy does it.
	Easy does it, to just translate that.
	So that's what I think is going on right now.
	China's got to come to the bargaining table, but there's multiple facets here that encourage me a lot.
	Brandon.
	Yeah.
	So, you know, this makes me think of, you told me about the guy, Morton Downey Jr., the other day.
	How is the fastest rise and fall ever of a person on TV?
	I think that's what China is going to be.
	If you look at China's GDP, I think it's going to be the fastest rise and fall of a country that we've ever seen before because their GDP explicitly rose because of what we gave them.
	We gave them like the sweetest, best setup ever to pump money into China, you know, with no conditions.
	Just, hey, here, you're a slave labor.
	We're getting off the gold standard.
	So we want cheap labor so that inflation isn't super noticeable.
	But I think this in a fully manipulated currency.
	Exactly.
	Yes, exactly.
	And they've stolen our technology.
	And I think that this is the hill they're rolling to die on.
	So that is the one thing that makes me nervous.
	I think they're a paper tiger in a lot of regards, but I think they will take drastic measures to stop us from being successful at this because this will decimate them if we follow through.
	I love, Brian, I'm dead serious, and you could see.
	I know you weren't looking, but exactly what you were saying was what hit me last night about China.
	First of all, they are our adversary, correct?
	Well, I think personally, adversary to be it's a opponent in a contest, conflict, or dispute.
	I think it's deeper than that.
	I think they are our enemy because if you think about it, we're at war with them.
	We're at war.
	It's not boots on the ground.
	It's not bullets being shot, but everything that they've done from trade, from TikTok and poisoning our youth's brains and buying military, you know, land near our military bases.
	Trump has to be careful.
	This is what worries me.
	He's threatening them to do something within 24 hours.
	And then the Ministry of Commerce says we will fight to the end.
	Okay.
	I think we need to listen because what scares me is they'll do whatever they have to do to protect their power and their control.
	Okay.
	They are a communist regime.
	And it's funny how Nancy Pelosi is over there talking crap.
	But when COVID hit, what was she doing?
	No, no, in Chinatown.
	Come over here.
	So we know who's really, who's really, really in control.
	Okay.
	And then I went this.
	The last time Trump was doing this and having this attitude was in 2018, trying to stop their cheating, their theft manipulation.
	What happened?
	A virus randomly leaked out of a lab that we kind of control and run.
	And nobody said, meaning they still to this day are playing the whole game of it could have been a lab leak.
	I think we have to be, he has to be very careful with them because I don't trust them one bit.
	They've shown that they're capable of going that length to shut everything down that they have to.
	And I think we're playing games with a regime that's willing to do anything, Pat, anything to stop us.
	This is going to get ugly and it's going to get really ugly soon.
	So, I mean, Rob, if you can play this clip, this is Scott Besson, which, by the way, what a very, I mean, I really like the way he speaks, the way he interviews, the things he says.
	He's actually a very good teacher because he can explain something in 30 seconds that takes somebody else five minutes to explain.
	So the average person can also receive it.
	Can you play this clip on the number of people that have been calling countries that are wanting to negotiate with us with the tariffs?
	Go forward.
	Harry, I can tell you that there are 50, 60, maybe almost 70 countries now who have approached us.
	So it's going to be a busy April, May, maybe into June.
	And Japan is a very important military ally.
	They're a very important economic ally.
	And the U.S. has a lot of history with them.
	So I would expect that Japan's going to get priority just because they came forward very quickly.
	But it's going to be very busy.
	And if President Trump, again, gave himself maximum negotiating leverage.
	And just when he achieved the maximum leverage, he's willing to start talking.
	Adam.
	Love that.
	Well, all these countries are coming to do what?
	They were trying to do one thing, cut a deal.
	Trump should probably make it whoever gets in the top 10 to negotiate will get a better deal.
	It's the art of the deal.
	So this is what it reminds me of.
	So we were talking about China.
	The number one goal of Trump is to deal with China.
	It's not to deal with Bangladesh.
	It's not to deal with Vietnam, Canada's, Mexico.
	It's all about China.
	So there's, you know, you know, I said you did a great breakdown when you shaved your head.
	And years ago, you talked about there's different levels to this.
	There's different levels to this negotiation.
	So China is the end boss, right?
	So whether they're a paper tiger or a powerful dragon remains to be seen.
	But it's like, you ever played Mike Tyson's punch out back in the day?
	What a game, right?
	And Mike Tyson was the final boss.
	So the guy who played in the game was what, Lil Mac?
	Glass Joe.
	So USA is like Big Mac.
	It's not like we're some wussy.
	We're the number one country.
	So we're Big Mac.
	And we're going through the ranks.
	The first guy is Glass Joe, boom, knock him out.
	Some, you know, fruity French guy, done.
	Then you got Don Flamenco.
	He's doing his little dance.
	He's got his rose in his mouth.
	Boom, knock him out.
	Vietnam, Spain, India.
	Boom.
	We're knocking these people out.
	King Hippo shows up.
	Here we go right here.
	He's a fat guy, sumo wrestler.
	Boom, knock him out.
	Soda Popinsky, the drunk Rosion guy.
	Maybe I played the game this weekend.
	Who knows?
	All of a sudden, we're beating all these guys.
	Boom, Then there's the final boss, Mike Tyson.
	That's China.
	So Trump's plan is to knock all these guys out.
	Bing, ding, bing, bing.
	Our allies.
	Okay, UK, we cut a deal.
	Israel, we cut a deal.
	Japan, South Korea cut a deal.
	Then we deal with India.
	We deal with these levels and levels and levels.
	And then we knock out China in the end.
	But what are they willing?
	What extent are they willing to go?
	Because guess what?
	Trump is going to be for us.
	Are you not worried at all?
	Because I mean, if you think about it, though, there's a reason.
	I mean, they're in control.
	There's a reason Gavin Newsom cleans up the city of San Francisco when they show up.
	There's a reason John Senna apologizes in Mandarin when he messes up.
	There's a reason LeBron, everybody bows down to them.
	And it's like, how far are we going to push those?
	Why do you think they bow down to them?
	Because they own them.
	They own all these stuff.
	All the money.
	It's the money.
	Well, obviously the money's the money, Lebowski.
	So what we're trying to do is figure out the money.
	But when you back up on Mike Tyson in a corner, Mike Tyson, he's going to punch you in your face.
	These China.
	Mike Tyson's going to do.
	He's going to bite your ear.
	Thank you, Jack.
	Thank you.
	Thank you.
	And Trump got shot in the ear.
	So there's an analogy.
	So no, he's going to bite you in the ear.
	No, but to me, you took the words out of my mouth.
	Everything they're saying right now, 50 people I've called, 60 people, 70.
	But there's one person that hasn't called.
	Sure.
	He's the only one that hasn't called.
	Exactly.
	China hasn't called.
	So, you know, until China calls, they're the guy, right?
	Everybody else can say whatever they want to say.
	They're the guy.
	They're the ones you're going to want to negotiate with.
	Of course.
	And it's going to be who can take the pain the longest?
	How nasty could it be?
	What other pains can you use against them?
	What other ways can you frustrate them?
	So imagine if all of a sudden you really want to irritate them.
	Imagine Trump takes a trip to Taiwan.
	Okay.
	No, no, I'm being serious about you.
	Imagine news comes out.
	Hey, President Trump lands in Taiwan.
	Yeah, you don't want to do a deal?
	No problem.
	We're down the street from you.
	And takes a picture looking at China over the water.
	That's what I'm talking about.
	Takes a picture right there and posts it.
	I think Trump's willing to go as far as possible to make this work.
	And I think China knows if they do a deal.
	Let's actually go and process this.
	If China does do a deal with U.S., what could happen to them?
	Think about that.
	They need the money.
	What's going to happen if China does a deal with U.S.?
	Say if China says, okay, let's just say right now they're sitting there saying, all right, let's do reciprocal 0-0.
	Well, if they do way back down to Earth, they're going to come way back down to Earth.
	But forget about down to Earth.
	Their vision and the dreams of becoming a reality is going to be what?
	Yeah, no, it's not going to happen.
	It's not going to be a superpower.
	So you know what's one of my biggest concerns?
	What's one of my biggest concerns that didn't happen that would have given us additional leverage is that Panama Canal, the two posts, didn't get done.
	And there was a stop there.
	So it's not done, but it's not completed yet, right?
	C.K. Hutchinson still owns those 43 ports.
	What's the latest?
	I think that's something he's used military force for, though.
	Panama casts doubt on BlackRock Canal ports deal touted by Trump.
	Top out of the CK Hutchinson owes $300 million in unpaid fees linked to two Panama Canal ports.
	Go a little bit lower, Rob.
	So this is just this morning.
	Panama's top auditor says Hong Kong CK Hutchin owes hundreds of millions of unpaid fees and failed to necessary to ports Mano Campolos plans.
	U.S. asset manager to buy the ports at 22.
	BlackRock's acquisition to the ports situated at the end.
	But is it done yet?
	Is it completed yet?
	It's supposed to be signed, but it doesn't sound like it was.
	It doesn't sound like it's completed.
	The reason why initially April 10th is on BlackRock for signing the definitive documents for the deal passed with no announcement.
	But comments made late Monday by Panamanian controller, this is yesterday, General Anal Flores introduced the most serious hurdle yet to BlackRock, taking control of the two ports.
	Flores said he was presenting the findings of an audit that began after the deal between Hutchinson and BlackRock Consortium, was announced, go a little bit low, Rob.
	Let's see.
	Flores said Panama Ports operates the ports and didn't get the necessary clearances when it extended the 25-year contract.
	Yeah, to me, all I'm thinking right now is the amount of leverage Trump and the U.S. has to go to China and say, if you don't do this, we're going to do this.
	Like, you remember when China, what was the first company that Trump said, nope, you can't do business here in the States.
	Do you remember the big one?
	The $100 billion company?
	It was in Tencent.
	No.
	It was the daughter that would know.
	The daughter was in China, was a CFO of the company doing a deal with Iran.
	And Trump said, you guys are all out of here.
	Oh, wow.
	That phone was blown up in the U.S.
	That phone was coming up and it was something that was with overnight.
	They lost $50 billion of valuation.
	I think that was a number because of the daughter.
	So Trump has the ability to do some things here, but this would have been a very, very big piece to the negotiation, Tom.
	I don't think things are over yet.
	And I think that China is being what people don't realize, they are fighting a four-sided war.
	Now, the big giant side is these tariffs.
	They're also interfering with the TikTok deal, and they're saying, oh, it's because of tariffs.
	No, it's not.
	You want that data and you want that path to power.
	And look, you see what's going on there?
	Panama's auditor are saying that C.K. Hutchinson owes money and there's an audit.
	So guess what?
	U.S. pressure on Panama, declare them in default and take the ports.
	You watch.
	There is an angle there administratively that China would flip out, but now they're trying to protect the port deal.
	They are trying to manipulate C.K. Hutchinson on the port deal because that's a path to power.
	So that's the second.
	And the third one is any deal they make, you have to remember they've never allowed their currency, help me here, Brandon, to float with all the rest of the currencies on the world.
	The dollar, the currencies, there is one piece of free trade internationally.
	Everybody's currency floats with each other in terms of relative value, correct?
	Yes.
	Except one big one.
	There's some little ones, but big one, and that is the Remimbi.
	And that's where China refuses to let it float and manipulates the value of its China and lies to its own banks about how much they're printing in the background.
	They don't have a Fed, but they have a balance sheet.
	They printed way more, way more than that.
	They are stuck on tariffs, big.
	They are stuck on currency.
	They're trying to hold power with TikTok, and they're trying to hold power with the ports.
	And I think that it's a very busy time.
	They are big, and they are the one we have to talk to.
	But I like the fact that there is multiple fronts that Trump is pushing on against them.
	I said this last time on Jesse Waters.
	If we get all the deals done, Trump needs to write Art of the Deal 2.
	Yeah, because it's time, man.
	Everybody's going to want to know how these deals got done.
	Brandon, you were saying.
	Yeah, no, just when it comes to leverage, I think we have far more leverage than China does because the thing that made them valuable to us is going away.
	Like what made them valuable was cheap labor and their manufacturing capacity.
	But, you know, with AI and with their labor being more expensive now, that's no longer that much of an advantage for us.
	And then what they need us for is they need us for our customer, our consumer base because our consumer base feeds like probably the majority of their economy.
	We absorb what they make because nobody else in the world could do that.
	And they're extremely vulnerable in terms of what they have to import to feed their country.
	So if you look at them, they're pretty landlocked.
	So, and we have all of our allies around them.
	So we have like Japan, we have South Korea, we have Taiwan.
	So if we wanted to, we could easily blockade China and stop them from even importing food and oil.
	So hopefully we don't have to do that.
	But I think we could very easily cut them down.
	Look, I think, you know, we talked about China being the end boss here.
	What's the definition of a good deal or a fair deal?
	The definition, in my opinion, is both sides kind of get what they want, and both sides kind of give up stuff that they wanted, but they're willing to part with, right?
	That's a negotiation.
	I kind of wanted this.
	We're going to have to do something with the Panama Canal.
	You wanted TikTok.
	We'll meet you here.
	You know, supply, demand, trade, input.
	That's what it comes down to.
	But if we go back to what Trump believes, you know, people say that Trump doesn't really have an ideology.
	It's kind of clear he has one thing that he definitely cares about, and that's dealing with these unfair trade practices.
	He's been talking about it for 40 years, starting with Oprah in 88, and he loves America.
	So I think, you know, Trump sort of goes by the shock and all.
	He throws out something crazy out there.
	He's like, the whole world's getting tariffs.
	Bing, bing, ding, ding, ding.
	You're all getting these numbers.
	And then you see who's responds.
	Vietnam responds.
	Israel responds.
	India responds.
	All these countries responding.
	And basically, in my opinion, Trump looked at the world on the second term.
	He had four years to sit back and relax.
	And he goes, you know what I'm sick of?
	I'm just sick of kicking the can down the road.
	This needs to be dealt with at some point.
	And I'm that mother effer who's going to do it.
	So rather than kick the can down the road, I'm going to pick up the can, I'm going to straight print it, red, white, and blue, and I'm going to chuck it at China and say, make my day, mothersucker.
	And we're going to see where this negotiation goes.
	It could go terribly good or terribly bad, but Trump's willing to die on this hill.
	So you said TikTok, Tom.
	Play this clip on TikTok, and then I'll give you some thoughts out on this.
	Go forward, Rob.
	Are you open to deals with these countries?
	It's a whole new deal.
	I wrote the book Art of Death.
	Somebody said that we're going to give you something that's so phenomenal.
	It's almost like giving us something that's good.
	For instance, with TikTok as an example, we have the situation with TikTok where China will probably say, we'll approve a deal, but will you do something with the tariff?
	The tariffs give us great power to negotiate.
	Always have.
	I've used them very well in the first administration, as you saw, but now we're taking it to a whole new level because it's a worldwide situation.
	Oh my God.
	It's very exciting to see.
	And what it's done is driven a lot of great companies to our country.
	And you see construction starting all over here.
	You said that the Chinese might be willing to agree to approve that sale in exchange for tariff relief.
	Is that something that you've floated to them or you've heard from?
	I'm just using that as an example.
	Let's say we had a problem with TikTok and let's say China wasn't going to approve.
	We could use tariffs in order to get it approved.
	What's the update on the deal negotiations?
	We're very close to a deal with a very good privilege about TikTok.
	Is that multiple investors just and then did the last-minute bids kind of throw things into disarray for you?
	Or do you have your strategy completely locked out?
	I'm just gonna go ahead and do it.
	Wait, last minute.
	I think that China maybe will call and say, well, we're upset with the tariffs, and maybe they want to get something a little bit in order to get TikTok approved through an hours.
	Okay.
	TikTok versus tariffs.
	And in the list of, like, if you were to put which is more important, 60-40 TikTok or 60-40 tariffs or whatever, how would you compare the two?
	Getting the TikTok deal done or tariffs?
	100 to zero.
	Exactly.
	Who cares about TikTok?
	Who cares about TikTok?
	At any point, if you want, you can shut down TikTok.
	Of course, you're going to lose a lot of the younger audience that's not happy with you and all this other stuff.
	And TikTok kind of turned in his favor in the last election.
	Charlie Kerr killed it on TikTok and a lot of the younger conservatives started using it.
	But no, this tariff thing is very big.
	Very, very big.
	If they figure out a deal with the tariffs, could be some very interesting things going on here.
	By the way, Rob, can you pull up?
	Let's just transition into the next story here.
	So with tariffs, we've covered a bunch of different things with tariffs.
	I want to go to this next story that we have with, let me see which one I want to go to.
	I got so many of them, but I'm going to go to this.
	Let's go into the story, Rob.
	New York Post comes out with this article.
	Okay.
	If you can go to the New York Post story in the notes, Rob, that I have it at.
	Barack Obama makes shockingly honest admission about the state of his marriage to Michelle.
	Okay.
	So here we go.
	Barack Obama, shocking admission about the state of his marriage to Michelle.
	Go a little bit low, Rob, if you could.
	So everybody's wondering, like, you weren't there, Jimmy Carter funeral.
	You weren't there, Trump, Michelle, I'm talking about.
	And then you start a podcast with your brother.
	Barack Obama makes shocking 100% Michelle Mary.
	I was in deep deficit with my wife.
	He told Tepper conversation Thursday.
	So I've been trying to dig myself out of that hole by doing occasionally fun things.
	The former president of the United States has previously suggested that his back-to-back terms in office from 09 to 17 took a toll on his relationship with the former first lady, go a little bit lower.
	And then let me say this.
	It sure helps to be out of the White House and to have a little more time with her.
	He said this in an interview in 23 and making sure to praise Michelle for being forgiving of his shortcomings.
	At the age of 61, she revealed December 2022 that she couldn't stand her husband for a solid decade when their daughters, Malia and Sasha, were little, nothing.
	Noting that she wasn't being catty by saying this, according to Michelle, marriage is 50-50 ever, ever.
	She explained at the time, there are times I'm 70, he's 30, and there are times he's 60, I'm 40.
	But guess what?
	10 years, we've been married 30 years, I would have, I would take 10 bad years over 30, go a little bit lower, Rob.
	So I've been trying to dig myself out of the hole by, so you hear these stories, and it's becoming more and more and more.
	I guess here's the question.
	If they got a divorce, what's the big deal?
	Nothing.
	Absolutely nothing.
	So if they got a divorce and it didn't work out, Michelle's doing a podcast.
	I saw the numbers yesterday.
	Their episodes keep getting fewer and fewer views according to.
	Do you want to tell you the numbers?
	So the new podcast continues to tank.
	The viewership is down over 75% compared to her first episode.
	Her viewership has been dropping since her show on March 12th.
	So it went from episode 1, 335,000, episode 2, 194,000.
	Episode 3, it jumped back up.
	Episode 5, 141, episode 6, 63,000 views.
	Can you just go to the channel, Rob?
	Let's see how it's doing.
	So, people are just not feeling it.
	It's ranked 34 on Spotify.
	Why is he looking it up?
	It's not fair.
	Like, if you're an unhappy relationship, I feel like when it comes to politics and these politicians, you have to stay together because your public image.
	And it's like, bro, you're unhappy.
	You keep saying that you're unhappy.
	All the rumors are out there about certain people's decisions and their 5,000 views in four days.
	Yikes.
	That's not possible.
	Oh, yeah.
	Oh, yeah.
	63, those are the shorts.
	This is on YouTube.
	Those are clips.
	So, is it most of the Spotify?
	Where's 5,000 views with Jay Shetty?
	There's no way.
	What's a six-minute clip we got?
	He had millions on top of millions of.
	Oh, the episode got 66,000 views.
	The short guy.
	Well, did you hear what they have?
	I know it's hard, but have you watched what they're just talking about childhood and just it's just not appealing?
	Can you click on the Jay Shetty one?
	Let's see if they leave the comments open or they've closed it.
	That's all I want to see.
	Don't watch the video.
	Rob, can you pause the video right now?
	Ain't nobody watching this.
	57 thumbs up.
	Only here for the comments.
	Go a little bit lower, Rob.
	Too much censorship in the comment section.
	I'd rather go to the dentist than to listen for 10 minutes.
	What are the boys talking about?
	What are the boys talking about?
	We are at the Marketing.
	I think it's important to understand happiness, just an emotion like the rest of your emotion.
	You are not okay.
	So that's a real one.
	Keep going, Lord.
	Clown Show.
	Another one, buying subscribers, views, and comments to not make a popular pod.
	I don't think they're buying it to only what you love that doesn't intentionally hurt you.
	63,000 subs laughing my ass off.
	So, you know, this goes into this next story, okay?
	Because the Democratic Party is trying to find, even the other day, we had Sam Cedar on.
	We kept asking about a name, I think we asked, Adam asked, I don't know, 10 times.
	Give me one name.
	Just give me one.
	So, Barack Obama destroyed the Democratic Party by competing for power and money.
	This is a new book that came out, written by a person that usually writes books trashing Trump.
	So, Rob, can you go to Amazon to show what the book is and what other books this author has written?
	If you go on Amazon, you just type up the name of the book.
	So, it's not like it's written by Sean Hannity or Bill O'Reilly or Glenn Beck.
	Can you go to it and then go to the author, click on the author's name, Jonathan Allen, and zoom in a little bit to see the list of books?
	So, inside Hill Connozen Campaign, who is this person?
	How Joe Biden really wasn't one of the president.
	So, okay, so fight, go to fight.
	The title is what?
	Inside the wildest battle.
	Let's find out who's Jonathan Allen, by the way.
	Can you go a little bit lower?
	The description, it shows it on the bottom who the author is.
	I just want to know this guy's background.
	Jonathan is a political reporter at NBC News.
	Okay, he previously worked at Washington Bureau for Chief Bloomberg News.
	White House, he runs political.
	Okay, every one of them, liberal, liberal, liberal.
	He has co-authored three prior books with Reinhardt and HRC, Shatter New York, Times bestseller, a senior political correspondent at the Hill.
	Okay, she previously runs on the staff for Trump during the staff writer political.
	Was that CNN political analyst, and he also appeared on CBS MBC Company?
	Okay.
	All right.
	So the article says the book fight inside the wildest battle for the White House claims the former president Barack Obama weakened the Democratic Party by creating organizing for action in 2012 to push his legislative goals.
	Authors Jonathan Allen and Amy Parnes write, though organizing for action never realized his vision, it competed with the party for power and money.
	They add that Obama left the party far weaker than he found it.
	Wow.
	With one operative quoted as saying, Obama destroyed that shit.
	Unlike Bill Clinton, Hillary Clinton, and Joe Biden, Obama relied on black professionals for his campaign rather than party loyalists.
	After Obama's 2016 exit, the Clintons, Biden, and Democratic National Committee chair Donna Brazil worked to rebuild the party's infrastructure and block far-left Democrats from taking over the book notes by helping install party loyalists at the national and state committees over the course of the years.
	These establishment Democrats keep progressive outsiders at bay.
	Tom, thoughts, one, on Obama with talking about his marriage, as well as what this book is saying about Obama destroying the Democratic Party.
	Well, I'm going to say something that's going to surprise you.
	You know, it's been, we're kind of coming nine years since he's been in office.
	And in the election, it showed that he doesn't have a lot of mojo with the voting blocks.
	He actually discovered how little he had and how it had gone away.
	And he was countered in situations that you would never have imagined him being countered.
	And it's been a long time since he was inaugurating and gave hope to every person in America, regardless of your color, because on that moment, regardless of whether you agreed with his politics, you could say that it doesn't matter where you're from or what color you are, you could be president of the United States.
	The same thing when Thurgood Marshall became Supreme Court justice.
	That was an important moment.
	After the eight years of his policies, it was like, oh, man, that was hard to take.
	Now it's been almost nine years that he's gone.
	You know, and it doesn't surprise me because what is the hardest thing to do?
	Why did Michael Schumacher come back from retirement?
	Why do athletes come back for another two years?
	Why do they take another one-year contract?
	Because sometimes it's hard to say goodbye, and sometimes it's hard to go to retirement.
	Are you going to sing?
	Sometimes.
	Maybe I could sing back.
	5,000 on Super Chat.
	And I don't sing today.
	And so now you're at a situation, it doesn't surprise me that after the Hillary, remember, he was standing way off to the left and behind the trees and just when Hillary won her campaign.
	There was no love there.
	Remember that?
	There is absolutely no love between the Clinton camps and the Obama camps.
	And then four years later, Biden's there and he's trying to influence the open convention and discovering how much little power he had.
	And so it doesn't surprise me now to see that what was going on behind the curtain.
	And it also doesn't surprise me to see how the Clintons, Bidens, and the DNC worked to rebuild in 2016.
	And you know what they did?
	They messed with Bernie Sanders in South Carolina.
	And now we can see behind that that Bernie had a point, that he was heading for a nomination prop, probably, but there were invisible hands that messed with him.
	So you want to talk about the guys that are against democracy?
	It's them.
	But it's like, I think for Barack Obama, it is hard to go off into retirement and to really accept the fact that you don't have the athletic skills you once had and you got to hang up the cleats.
	And he could be such a statesman right now, but now you see behind the curtain that this was there.
	Man, that's tough.
	I imagine it's tough for him.
	You said it's like the worst year he had.
	And Pat, I think you're right.
	And now we're seeing just behind the curtain how much was going on.
	Adam.
	Look, there's only one president who just refused to go away after his term was done.
	And that's Trump.
	This guy didn't even need to run ever.
	He was a billionaire.
	He came and did his thing.
	Yes, there's people that loved him.
	Yes, there's people that hated him.
	But after he lost in 2020, he could have just been done.
	But if you've ever seen that viral clip of Trump when he's like, you just can't quit, man.
	Just straight up can't quit.
	Some people have seen it all the time.
	People quit, people quit.
	Trump is a unique person.
	He don't quit.
	If you look at every other president since Rake, even Jimmy Carter, from Bush Sr., Bush Jr., Bill Clinton, like most of these guys just kind of go away.
	Clinton allowed Hillary to be the, you know, the catapult to the top.
	Bush Jr., do you ever see the Bush Jr. out?
	Have you?
	W out?
	Never see him.
	They just kind of go away.
	Barack Obama's issue was that he kind of was doing like the hokey pokey.
	He had one foot in.
	He had one foot out.
	Is he leading the party?
	Is he now leading the party?
	Is Michelle going to run?
	She's not going to run.
	You know, anytime someone floated Michelle's name out there, I go, she's not running.
	She's never given any indication she's going to run.
	What are your thoughts here?
	So, I think he's...
	Can I?
	Yeah, because you went first.
	I went to Tom.
	I wanted to go to see what Vinny wanted to say with this one.
	I'll come back to you.
	Yeah, but just with the whole, what was the actual question?
	No, Barack Obama, the whole situation with Barack Obama.
	Marriage, you know, him destroying the Democratic Party, the book.
	Oh, I think, well, just because you're comparing him to Donald Trump.
	Absolutely.
	I'm not comparing him to Donald Trump.
	But you said the last guy that didn't want to leave.
	Every president.
	And Trump is the only one who's sustainable.
	But when you said ZP want to leave.
	This guy ain't stopping.
	But there was a difference.
	Every other president just was like, I'm out.
	Yeah, but Barack wanted to hang around.
	It wasn't as if, and this is Trump's words, if they didn't cheat and they didn't cheat him out of an election, he would have easily, by the way, he would have been gone already.
	This last year, he would have been a couple months ago, he would have been gone.
	So there's a difference, I think, between him and Tom made a great point on him just not wanting to retire.
	But he also just, he spoke at some event that he was at Hamlet.
	He was at some college and he was just up there saying like, we have to keep, I think it was like, it was a talk in New York, I believe.
	And he's like, we got to keep fighting.
	He was basically saying, you know, Trump supporters are this, Trump supporters are that.
	And I think when it comes to Michelle and him, you nailed it.
	If you guys want to get a divorce, get a divorce.
	Why should you be forced to stay in a relationship that you are completely unhappy?
	Remember that photo that they took at dinner?
	They're hanging, barely touching each other's fingers on the end of the table.
	And it's like, and if any of them, what?
	I don't know, dude.
	Do you think they're actually happy at it?
	I remember after 2020, everyone was like, that's it.
	Melania is going to divorce Trump.
	It's done.
	Put a fork in this thing.
	Who said that, though?
	Who said that?
	Everyone was saying that.
	I never heard that.
	Me?
	How more distant can you be in a photo?
	I'm just letting you know one thing, Vinny, just because you didn't hear me.
	No, I mean I heard this one when she slapped her hand when they were walking and she stayed.
	It was everywhere.
	Yeah, there was stories about Melania.
	Of course.
	So there's stories like this.
	There's stories about Melania.
	But we're all just heroes.
	I'm with you on the hands stuff.
	The difference is that I think there's something going on here.
	It's almost like Will Smith and Jada?
	Jada.
	You know how Bezos did it?
	Bezos, they came out in 2019 and said stories about him and such and such girls.
	He says, yeah, it's true.
	And then they got a divorce and moved on.
	And guess what?
	She went and married somebody a lot more chill, school teacher.
	I think they divorced her.
	McKenzie.
	And then divorced 18 months later.
	She was bored out of her mind.
	Every night she's comparing him to Bezos.
	And then Bezos went and ended up with...
	Somebody with nice hands.
	Yeah.
	Yeah, but no, he ended up with somebody he wants to be.
	And guess what?
	Everybody moved on.
	No one cares about it on what happens.
	People move on and have their own lives.
	By the way, Michael Jordan was married to a girl early on in his career that I think he got her pregnant before they got married.
	And then when they got married and he's in the NBA, he's Michael Jordan.
	They're having a challenge in time.
	And then boom, she apparently hires somebody, Piya, to go investigate him.
	I'm like, listen, let's just finish up and move on.
	They move on.
	You've never seen her in media at all.
	She kind of wanted to be to herself.
	Very minimal stuff that she wants to do.
	The difference with this, that there may be something going on here, is you don't show up to Jimmy Carter's funeral.
	He's a Democrat.
	And you don't show up to the inaugural.
	You start your own podcast with your brother and you're saying the comments and you're if you want to go all I'm saying is if a president gets a divorce I wouldn't look at Obama one way or another.
	I would simply say I get it.
	It's tough.
	Good.
	God bless.
	And don't forget, they were young presidents.
	They weren't old presidents.
	So it's a difference when you're a young president, when you're a young president getting out and you have your star power like Netflix showing everywhere he goes and da-da-da-da-da.
	It's a different kind of a life.
	So who knows?
	Quick question, Obama.
	Spouses, in the Democrat Party, I think they pick their spouses the same way they pick their candidates.
	I think they're both arranged marriages.
	You said that the other day when we were talking about how the superdelegates are the gatekeepers for the Democrat Party.
	I think there's a good chance that people in politics like the Clintons and Obama's like, it could be an arranged marriage.
	So, I mean, I think that's the biggest problem.
	Democrats believe in arranged marriage.
	Yeah, I believe.
	Both literally and figuratively.
	You don't?
	You don't believe that, Adam, and hold on, in politics that somehow they could say, listen, guys, this guy's going to be the president.
	They've been back.
	Obama was a work in progress for a while.
	And what if they were just like, you guys have to get married?
	Because listen about it.
	Let's just talk about rumors because, Adam, what if?
	What year did the – show me data on this.
	Not just speculation.
	What year did Bill and Hillary get married?
	I would guess 70s.
	What year?
	71?
	What year did he become president?
	92?
	All right, guys, it's a 20-year plan.
	Who?
	On the Clintons?
	You're going to become governor of Arkansas.
	The arranged marriage for me is meaning they pick the candidates.
	The Democrats pick the candidates.
	They don't let you fight to win it.
	They pick and choose the candidates.
	We're talking about political.
	If you're talking about the example that Brandon has given, I also do think a Bill and Hillary sit there and say, hey, one day we're going to be president.
	This is a good partnership to go together rather than I love you.
	There could be a 71.
	It could be because, listen, there's a picture of him meeting Kennedy very early.
	Andy Orton.
	Look at that picture with her.
	Zooming on her picture to the left.
	Zooming on the picture to the left, Rob?
	The left one right there.
	Who's she meeting?
	Barry Goldwater.
	There you go.
	That's her meeting Barry Goldwater.
	And then there's a picture.
	That's a 68, but look at Bill in the back.
	They have similar interests and they're into similar things.
	They're running similar circles.
	Yeah, ambitious.
	Fully agree that.
	Want to be president?
	Say, hey, listen, we're going to go on a 20-year run.
	If we do this partnership, we're going to end up becoming president one day.
	That is very hard to do.
	How is that hard to do?
	All right, go ahead.
	You do it.
	Well, no, what I'm saying.
	What happens with the CIA, though, allegedly?
	People say they report to the CIA when he's in college.
	The answer is they got married.
	They started a life together.
	They're both politically ambitious.
	And things happen.
	Or the speculators are up there.
	It's like, there was a CIA meeting in the back of the room in our house.
	And they planned and plotted the White House.
	Or what about random things?
	There's evidence.
	Or what about random things like a letter that you wrote to your girlfriend in 1982 saying, I make love to men daily my imagination.
	Then you have Larry Sinclair going out.
	Are you talking about the Clintons now?
	No, no, no, I'm talking about it.
	I'm talking about the Clinton.
	I'm talking about Barack Obama.
	You're talking about no arranged marriages.
	What if, let's just say, figuratively speaking, and there's rumors out there, what if Barack Obama likes guys and this whole thing was set up because nobody's going to vote for a single guy president.
	So guess what, Adam?
	It could be possible.
	It could be possible.
	Here's the beautiful thing about podcasts.
	Everybody can hear what you have to say.
	Here's the ugly thing about podcasts.
	Everybody's going to hear every ridiculous thing.
	How's it ridiculous?
	Is what I just said a fact?
	Is it what I just said a fact?
	In 1982, penned a letter to his girlfriend, Alex McNair, former President Donald Trump, wrote.
	No, no, no, former president.
	Barack Obama said.
	Sorry.
	You see, I make love to men daily, but in my imagination.
	Adam, who says that?
	Adam, who says that?
	But now I'm going to defend the letter.
	No, you're 45 years ago.
	No, but you're just saying.
	I know you don't stand on the same stage.
	Saying that in between all this, so you knew about the letter.
	Is that what you're saying?
	Barack and Michelle are arranged to become the president.
	I believe it must be fun to just be afraid and just guess what?
	I believe the public is on my side more than you.
	And Adam is showing they hate, they don't like each other.
	She's not happy.
	Vinny, again, that's the same crap they were saying about Trump and Mania.
	They're still together and stronger than ever.
	So there's a difference.
	I don't think Trump ever wrote a letter or had a guy named Larry St. Clair, Larry St. Clair, go, bro, this guy would drop with a limo and we would hook up into drugs.
	Here's genuinely the problem you're having.
	Come on, man.
	I don't have a problem.
	When you look at the other side as the enemy and you can't just actually look at genuinely, you just make up stories in your head to go along with your name.
	They probably just fell in love and got married.
	I want to go with a light story.
	Mark Cuban weighs in on transgender athletes and women's sports, saying people are just not ready for it.
	That's probably true.
	Can you play this clip right?
	Mark Cuban breaking it down with Stephen A. Smith that we should be ready for it.
	If we're progressive enough, we should accept the fact that men should compete in women's sports.
	Go ahead, Rob.
	The whole sports, trans sports issue, you know, it's like the old Willie Horton thing.
	You know, my attitude is: if there's a trans athlete, no matter what side, you let the opponent, whether it's an individual sport or a team sport, you let them decide if they wanted to compete against them or not.
	If they feel they can win, if they feel it's not fair, it's up to them.
	But to make it just a national issue, so that if you weren't supporting the fewer than 10 trans athletes in the NCAA, then you weren't a good person.
	I just, people aren't ready for that yet.
	And you've got to meet people where they are.
	We've gotten, we've taken this country so far in race relationships and relations and attitudes towards LGDBQ.
	He is butchering.
	You know, it takes time.
	You can't just force it down people's throats.
	And instead of people who are being disadvantaged and being discriminated against are helped, they wanted to make it a campaign issue.
	Focused on helping the people, not using them to campaign.
	How does Vinny, thoughts?
	Actually, no, Tom, I'm going to go to you first.
	Mark Cuban.
	He's got daughters.
	Okay.
	So he's a family man.
	He's been married for a long time.
	He's a good father.
	His kids love him.
	What do you say about what he had to say here?
	I think Mark really gave a tangled up answer there.
	And I think what was interesting is: oh, if you don't like it, you can forfeit.
	I think that's really terrible.
	We've seen the stronger athletes.
	I don't think I'm ready to see men spike volleyballs and knock my daughter unconscious.
	I don't think I'm ready today.
	I don't think I'll be ready in 10 years.
	I don't think I'll ever be ready for that.
	And I think what Mark, I don't know what he was trying to say.
	It seems like he got a little tangled up around the point because I think that there's a common sense element to this.
	And it's been said by many people.
	They said, look, you know, we spend all of this time on steroid detection and blood doping detection in the Olympics.
	And there were East German, back when there were two Germanies, powerlifters that were blood doping for the Olympics.
	And we spend all this time.
	How do we stop this injustice?
	How do we find out about these steroids in the Olympics?
	How do we level the playing field?
	Remember, that was the whole argument about steroids and what we got to do in the World Doping Association, what it had to do, because it's so unfair.
	You know, here you have countries like the United States and East Germany with these big budgets.
	And this guy from Cameroon that's trained all of his life and is losing out to a guy who's blood doping.
	That's not fair.
	What happened to that?
	Where did that go?
	Now you're all the way to Mark Cuban saying, well, if you don't like it, you can forfeit.
	So you could just lose.
	So Riley Gaines could have said, well, I'm not going to get in the pool.
	I'm just going to forfeit.
	Really?
	It's just, I don't think people are ready for that.
	I don't think people are ready for, I think people are ready for fairness.
	And I think Mark gave a really tangled up answer there.
	People are ready for fairness.
	People are ready to step back and say, wait a minute, that's what people are ready for.
	People, it's not like, well, if we just wait long enough, we'll sacrifice our daughters to men in sports.
	No, we spent all this time getting steroids out, and now we let the guy with built-in steroids in his testicles walk in.
	That's so unfair.
	Yeah, and does he have, does he have, by the way, and it's always the people that it doesn't affect their lives.
	Anytime people were open border or anytime people are like, let them play, because you know what?
	None of they're not getting affected.
	Their children are getting raped.
	Their children are getting murdered.
	Their daughters aren't losing freaking scholarships.
	I think it's stupid.
	And you know what?
	I want people like Mark Cuban to keep talking, keep putting a mic in front of his face, keep letting him say dumb, ignorant stuff like that.
	Just like what was like Jasmine Crockett and all the, who was the other one that had the trans, the Neil deGrasse Tyson, like the dumbest sounding arguments and this, the left, these Democrats will not change the tune.
	It's like with all the stuff that's happening in the world, we're still talking about this.
	We're still talking about men playing with women.
	And this is from a party, the most hypocrisy I've ever seen.
	They're so pro-women.
	They're so my body and my choice.
	It's like, bro, you're competing against men and people are getting injured.
	Women are losing their freaking scholarships.
	And all these feminists, they're such male feminists.
	But when it comes to this, they want men to compete with our freaking daughters.
	And I think it's absolutely ridiculous.
	But let them keep talking.
	There goes anytime that people are like, oh, he can maybe run for president.
	This is always going to come back to Biden.
	By the way, you know what I like?
	And I don't want to spend a lot of time on the story.
	I'm going to go to the next story.
	But Stephen A. Smith finally says, you know, he's open to the idea of running for president.
	He's actually leaving the door open.
	Stephen A. Stephen A.
	And guess what?
	You know what at least Stephen A is doing?
	At least he's given a different angle.
	At least he has the audacity to disagree with the Democratic Party.
	At least he has the guts to say, yeah, you guys screwed up royally.
	At least he has the audacity to do that.
	And guess what?
	Whether it's going to work or not, it is what it is.
	I don't know if it's going to work or not.
	I do know they're going to attack the hell out of him.
	Is this it, Rob, with him saying he's open to the idea?
	I believe so.
	Play this clip real quick.
	Unfortunately, over the last few weeks, I've had no choice but to get a bit more serious about it.
	I've been approached by people on Capitol Hill.
	I've been approached by people who are elected officials in office, whether it's governors or mayors or what have you.
	And people have legitimately and seriously asked me about that.
	I have no desire to be a politician.
	My life is pretty well.
	But I've decided I'm no longer going to close that door.
	I'm going to keep my options open.
	I'm going to entertain the possibility.
	And if it comes in 2020, late 2026, 2027, where I look at this country and I think it's an absolute mess and there's legitimate reason to believe, whether it's via exploratory committees or anything else, that I indeed would have a legitimate shot to win the presidency of the United States.
	I am not going to rule it out and I'm not playing.
	I just think that it's a mess right now.
	I'm not scared.
	Big difference.
	Mark Cuban versus him.
	He'll call out BS and Mark Cuban is just going to sit there and try to spin.
	I don't get a feel that Stephen A is spinning a lot.
	I think Stephen A was afraid to be a little bit more public about it.
	Maybe a year ago, maybe a couple of years ago, maybe a few years ago.
	I think right now he's more open about it.
	And he's still got the contract.
	He's with ESPN.
	He has the mic.
	Now he has his own show.
	Now he has a bunch of stuff going on.
	You got to respect the difference between the two of them, Vinny.
	But how much of all, and this is all of the left, Chris Cuomo, him, the majority of the left now are just like, man, our party did this and our party did that.
	Where were they for the past four years?
	And I understand what you're saying, where they had to be kind of quiet and everything.
	But like, we want, if you're going to, if you just let all that slide and now all of a sudden they're all like, yeah, man, everybody's pointing that way and saying, man, man, they messed up.
	Okay.
	Everybody knew.
	No, buddy.
	And he voted, right?
	Did he say he voted for a vote?
	And he voted for Kamala Harris.
	He voted for Kamala Sarah.
	I don't understand how anybody in their right mind all of a sudden can make this flip, but you still voted for Kamala Harris.
	They couldn't name one thing that she was going to do positive.
	And yet now everybody's jumping ship.
	Everybody, even Jake Tapper and all these guys are writing books talking about, man, they lied to us about Biden as if like as if we were all blind and we couldn't see what's happening.
	I just, I just don't know how genuine all these things are because at the end of the day, this four years, Trump is going to be gone.
	What are you going to do different?
	Are they going to come in and reverse everything that he's done that everything that he did for 2016 when he did all that he did with all the racism stuff, with all the COVID stuff, with all the negative Russia collusion?
	He's still busting his ass to try to get this country back in order.
	And then COVID hit.
	And then now he's just trying to build us all the way back.
	What are they going to do when they come in?
	Because I'm telling you right now, I like Stephen A. Smith.
	I mean, I trust him way more than I trust Gavin.
	But those are the type of people, once they come in, what are you going to do to reverse the country, especially if we're on the way to a brighter future?
	Well, you know, Stephen A. is getting a little bit more confidence now.
	Something happens to you guys when a $100 million check hits your bank account.
	Your chest gets a little puffed up.
	You get a little more bass in your voice.
	I get it, Stephen A. Smith.
	Shout out to you.
	Still voted for Kamala, but we love you anyway.
	About Mark Cuban.
	So I don't know.
	I don't know if this is something that he just worked hard for it.
	And I don't know if it's something where they just arranged a marriage for Mark Cuban because he met his wife, I think, in 1997.
	They married in 2002.
	They got three kids.
	He was an entrepreneur.
	He went to Indiana.
	He started these tech companies.
	He became a billionaire.
	He bought the Dallas Mavericks.
	All of a sudden, he's doing Shark Tank.
	Next thing you know, he transforms into Rachel Maddow.
	All of a sudden, he's doing these interviews.
	He's jumbling these words.
	Maybe that's just his career path.
	Or maybe the dark forces of the Democratic Party were arranging a marriage 25 years ago.
	I don't know the answer.
	I'll let the crowd speculate.
	But Mark Cuban, we're on to you, buddy.
	I have a sense of being sarcastic right now.
	I own.
	Is that what you're trying to say?
	I am, Vinny.
	I am, Vinny.
	Because some things are just what they are.
	Did you just make any points?
	I'm waiting.
	This is sometime where I watch.
	I'm like, I want to hear something, but I want to go through the text and mix it.
	Can I make some fashion?
	I want Vinny to see what you're doing.
	Can I show you how to make a point?
	No, Tom, regarding Stephen A. Smith, really, really quick.
	I don't think it has anything to do with this contract.
	I don't think that.
	I think he's got deep personal integrity.
	And he was talking about looking at the country and looking at the party and saying, I'm not going to leave.
	I'm going to leave the door open because if I see things I don't think are good there, I'm going to do it.
	And I think that's integrity.
	And by the way, how many of us here at this table cannot go to a drawer or a photo album that we have and look at pictures of ourselves and say, wow, what was I thinking?
	Oh, yeah.
	And so why can't Stephen A. Smith go gene back?
	Why, exactly.
	Why can't Stephen A. Smith look back over politics and things like this and going, wow, what are they thinking?
	And maybe I'm going to, maybe I'm evolving in the process.
	So we've been talking a lot about a lot of things.
	But in terms of Stephen A., I think it takes a lot of guts what he's done.
	And I think he's got personal integrity.
	And I think it has jack to do with how much he earns.
	I think that's him.
	I love it.
	I'm going to the next story.
	Kamala Harris was completely shocked by election night loss to Trump after she bought that.
	Is this not the funniest thing, Rob?
	Kamala Harris and her running mate, Tim Waltz, were blindsided for her loss to Donald Trump in 2024.
	As detailed in fight inside the wildest battle for the White House by the people that wrote it, Parnes told the podcast, somebody's got to win with Tara Palmieri.
	She was completely shocked and Tim Waltz was shocked.
	Waltz was so stunned.
	He sat silently in his hotel room with staffers explaining the defeat while Harris questioned, are you sure?
	Have we done a recap?
	Is this a battle?
	The campaign victory was assured and Parnes noting they thought they were going to win.
	Harris' confidence stemmed from misleading optimism within her team as Parnes reported that some stuff felt gaslit by senior officials who claimed things were looking good.
	Harris bought the hype, swayed by crowd sizes, fundraising success, and boots on the ground with Parnes saying she bought all of that.
	She bought the hype and so did a lot of people in the campaign.
	Tom.
	Well, Pat, I thank you for when you challenged us to say, hey, let's do a 16-week series and let's look at these polls and let's look at facts.
	Let's look at numbers and let's see what we can find.
	And we saw polls that we saw where they were going.
	We saw where the numbers were going.
	We also saw and talked to friends inside the polling industry, people that have come out and talked to us, that said that a lot of these pollsters milked the Democrat campaign.
	$3 million a month polling contracts.
	Hey, you're doing well.
	You're doing great.
	You know what?
	More white men than you think.
	You look what you're doing with the married Hispanics.
	It's better than you think.
	And how is it that people like Nancy Pelosi saw the car going over the cliff?
	It was like the last scene in Thelma and Louise, and you've got Kamala Harris and Tim Waltz holding hands as the car is going over into the canyon.
	That's what was going on.
	Everybody knew it.
	And I believe that Tim Waltz and I believe that Kamala were lied to during the last lap of the campaign where people said it's looking good because there was too much money to be made.
	And do you remember what we all said?
	Remember when the audit came out, the audit at the end?
	And how much money was spent?
	What did we say on this podcast?
	How the hell did they spend that much money?
	Remember this, Vinny?
	We were all looking at that.
	Well, guess what?
	I'll tell you how they did it.
	They paid a bunch of consultants that were looking at them and kissing him on the ear and saying, everything's okay.
	You got this thing locked up.
	But they were cashing checks right up to the end.
	And I believe that this shows, along with the book we just looked at, just how divorced the Kamala Harris-Tim Waltz campaign and the bloodsuckers that were around it just making money on it from the core Democrats, including Nancy Pelosi and Barack Obama, who were rubbing their temples, you know, sitting at their own kitchen tables saying, man, this is going over the cliff.
	They all knew it.
	And that's what's going on here.
	And it doesn't surprise me.
	By the way, Tim Waltz just sitting in a room, just shocked, not talking, staring at nothing.
	That's a normal day.
	That's a day ending in why for Tim Waltz.
	It's like, you know, so let's not be hard on Tim.
	He's the first one I'll tell you.
	I was such a nuhead.
	Yeah, so I think Kamala genuinely hates people and being around people and interacting with people that she considers regular people because I think you have to like to speak to people and be around people and be in front of people when you're running for president.
	And if you want to do something where you're serving people.
	So I think that she was like so cut off and detached and out of touch with like the average person where she didn't interact with them unless they were like pre-screened and like they had their pre-approved questions and everything.
	So I think she was so cut off from reality with like the average person that of course she was shocked.
	She had no idea, like no perception of what the average person was doing or thinking.
	And then, yeah, the pollsters.
	We know the pollsters are fake.
	I mean, like, I've never been called by a pollster before.
	I don't know anybody who's been called by a pollster before.
	So I don't know like what kind of sample size these guys are getting stuff from.
	But yeah, it's not, I think both sides always think they're going to win all the way down to the wire with any campaign.
	So yeah, I'm not surprised that she was shocked.
	Vinny.
	Well, that's and that, that's, that's, never underestimate the power of the mainstream media as well.
	Like, you know, she was watching and she was paying attention and people are like, we got this.
	And you have the backing of Barack Obama and their lovely marriage to Michelle Obama, constantly saying, listen, we're going to go out there.
	We're going to tell, you know, we're going to rally up the troops and we're going to tell the African-American community.
	You have to vote.
	Like, if you don't, then, you know, you're ruining the rate.
	You're not helping us.
	And none of that, everything fell flat.
	And that's what you get when you have just people like you, like you say it all the time, the flattery.
	It's just killing people.
	Like, you got, you got this.
	We're going to win.
	Nothing.
	He's not going to, he's a racist.
	He's Hitler.
	We're all going to say that he's Hitler.
	We're all going to say that he's going to ruin the world.
	And that's it.
	And that's what you get when you listen to the mainstream media and you have people patting you on the back all the time and you're not aware and you're not living in reality.
	That's what happens.
	That's exactly what the hell happened.
	Adam.
	I mean, I just, I'm picturing Tim Walz being like, what happened?
	I thought we had this in the back.
	Knucklehead.
	Are you?
	What?
	This guy?
	Yeah.
	Gosh.
	Give me one of them tampons from the bathroom so I can win my tears.
	So, I mean, it just maybe just shows you how much politicians, maybe even on both sides, sort of live in echo chambers and you're being coddled and your handlers are kind of telling you what you want to hear.
	They're not necessarily telling what you need to hear.
	They're not telling, they're not speaking truth to power and they're sort of insulated.
	I'm not shocked.
	You know, nobody's shocked that they lost.
	You know, it's like when Walter Mondale, I think, lost to Reagan, I think 49 states to one.
	You know, Reagan just cleaned up and the Electoral College cleaned up across the board.
	And Walter Mondale just sitting there.
	He's like, what?
	You're kidding me?
	Look at this map right here.
	And by the way, reference Tim Walz, governor of Minnesota, Walter Mondale, Minnesota.
	There's a Minnesota, they're drinking the Kool-Aid over there, but nobody was shocked to see that Trump won.
	What we were shocked was that he ran the board.
	Every single swing state, popular vote.
	Now, Kamala is a drunk person on the internet.
	All right, let's go to the next story.
	The Supreme Court clears way for Venezuelan deportation to resume for now.
	Okay, so this, Rob, if you got the clip on this one here, Supreme Court ruled Monday that the Trump administration can resume deporting Venezuelan migrants under the Alien Enemies Act, overturning the lower court's pause.
	The unsigned order stated the detainees are confined in Texas, so venue is improper.
	And the District of Columbia directing the case to Texas, all justice-agreed migrants must get noticed within a reasonable time to challenge removal per justice, Brett Kavanaugh.
	Concurrence through, is this the clip, Rob?
	It is.
	This is News Nation reporting on this late last night.
	Go for it.
	And the Trump administration can restart deportation flights under the Alien Enemies Act.
	The Supreme Court ruling in a narrow majority that the wartime law can be used to deport illegal immigrants.
	Those flights have been at the center of a legal firestorm between the administration and the Justice Department.
	News Nation's Tom Dempsey has the latest from Washington.
	So, Tom, this wasn't a complete victory for the president, was it?
	Yeah, but a temporary win, you could say, for the Trump administration.
	Anna, good morning.
	Look, these for now, these deportation flights under the Alien Enemies Act can continue as this case makes its way through court.
	And as part of this Supreme Court decision, anyone ordered to be deported must have their day in tort.
	President Donald Trump, though, celebrated this decision when it came down, posting the truth social quote, saying that the Supreme Court upheld the rule of law and calling it a great day for justice in America.
	The Supreme Court did not rule on whether those Venezuelans on flights to El Salvador last month were improperly classified for deportation under the Alien Enemies Act.
	But the justices did determine that the court cases challenging those deportations cannot be held in Washington, D.C.
	They must take place where the detainees are being held.
	In this case, that was Texas.
	Liberal Justice Sonia Sotomayor led the dissenting opinion, writing, The government's conduct in this litigation poses an extraordinary threat to the rule of law.
	We as a nation in a court of law should be better than this.
	And we will know, too, in this close five to four margin on the Supreme Court.
	Conservative leading justice Amy Coney Barrett actually joined the three liberal leading justices in dissenting in the opinion.
	Anna?
	Yeah, and Tom, what about the Maryland man mistakenly deported to El Salvador?
	Do we know when he's coming home?
	Oh my God.
	Yeah, we do not know when he's coming home.
	Look, that case has gotten national attention.
	Kilmar Abrego Garcia is the name of the man.
	And right now, he does not know when he's going to be returning home after Supreme Court Chief Justice John Roberts issued an order pausing that official order for him to return home by midnight.
	The Trump team admits Abrego Garcia was mistakenly deported.
	Tom thoughts.
	So, first of all, I think we're seeing some of the true colors of Amy Comey Barrett.
	Vinny has talked about this.
	But I think what we all have to do, let's look at this somewhat objectively.
	And what Soto, what Justice Sotomayor said, I think we look at that.
	It says each, and then also what Tom Dempsey, the correspondent, said, each person has to have their day in court.
	Look, all the crazies out there want you to believe that we're just going down the street, you, you, you, you, and you, and we're throwing you on a plane to send you back.
	No, you're going to detention centers, public defenders, look at who you are.
	What identification do you have?
	What have you done?
	What's going on?
	We check you out and away you go.
	And with all that activity and all that stuff going on, we have one guy, one in all the activity, one that we have found a whoops.
	And guess what?
	Even John Roberts has said, hang on, he is going to come home, but hang on a second because we have to do this right and let's get it right.
	And so when you see a 5-4 decision here, what I'm really seeing is Comey Barrett and Sotomayer saying, hey, we got to get the rule of law right.
	And then we got other liberal justices that just don't want Trump to do anything.
	So they'll vote no and whatever.
	But remember, this law goes back to, help me out, 1789 is when this law was started regarding foreign combatants.
	And we are seeing new levels of foreign combatants.
	And I believe the Trump administration is correctly categorizing these people as foreign combatants.
	And so if that's the way it's going to be, then you're going to have an expedited ride home because you're causing issues here.
	But I also think, and you probably got an opinion on this, we're kind of seeing that we maybe don't have an exact conservative justice.
	Maybe we have like a moderate leaning right on big issue justice.
	Not the support that I wanted to see from her.
	Like at the end of the day, and you nailed it, Tom, out of all this situation, one guy that they have, like out of how many thousands that we made one mistake.
	I love how everybody thinks we're going to be perfect in this whole situation.
	But let's just ask ourselves, who are we deporting?
	And who are we?
	Okay, we're deporting illegal, there's the word, illegal people that are freaking gang members.
	Okay.
	What do gang members do?
	They don't skip down the street holding hands.
	No, they sell drugs.
	They beat up people.
	They shoot people.
	Look what Tern Daragua was doing in freaking taking over apartment complexes in Colorado.
	It's like enough, like the left, what they're sticking up for these people.
	And I get this due process situation.
	Maybe the process needs to change.
	When it's you are here and we have documentation that you are illegal and you're in a gang, there's no what day in court?
	What day in court?
	Get out of the country.
	You don't belong here in the first place.
	And Tom, Mitch McConnell brought Amy Colby.
	He rushed, he brought Amy Colby Bear to Trump and rushed the nomination, okay?
	And some would argue that she's a freaking plant because look at her.
	Look at the, remember when she was at the his uh what not the state of the union when Trump walked in.
	Have you ever seen a Supreme Court justice look at a freaking president with that much disdain, Tom?
	Have you ever seen that?
	Bush was tricked the same way Bush Sr. over David Souter.
	Okay, so exactly my point.
	And John Roberts, maybe too.
	Yeah, yeah, but at the end of the day, Brandon, what are we, what are we fighting about?
	And I don't know if you saw this.
	Like, it just drives me crazy.
	They're illegal gang members.
	Get them the hell out.
	We made one mistake.
	Okay, they're going to fix it.
	They're not going to let the guy stay there forever.
	It just drives me bananas.
	Adam.
	Trendi Agua.
	I love Trump saying that.
	Trendi Agua.
	But look, there's something happening, by the way, Venezuela.
	I'm getting a lot more messages from people.
	You're getting these messages on Menecta.
	You're seeing these things about Venezuela and this upheaval of what's going on in Venezuela.
	There's something happening there.
	This Maduro guy, no bueno.
	But obviously, we agree with getting these criminals and these gang members out of the country.
	But let's not just gloss over.
	There's this one dude.
	What's his name?
	Kilmar Garcia.
	That's like, guys, you shit me out to El Salvador to a maximum security prison.
	And I guess when you go fast, things are going to break.
	I get it.
	And I agree with what Trump is doing.
	But just put yourself in this guy's shoes.
	They're like, he shows up to the prison, maximum security prison in El Salvador.
	They're like, what's up, bro?
	What gang you trendy agua?
	He goes, no, I work for Zephyr Hills.
	Like, I just like water.
	I'm working in the water industry.
	What gang you send at home?
	Like, imagine this guy's experience.
	Just he's a citizen or he's married to an American citizen.
	He's not tatted up.
	He's not a gang member.
	Shows up to El Salvador.
	Can we just show an image of what it looks like in El Salvador when you show up there with MS-13?
	But is it worth it?
	The jail you're talking about.
	Yes.
	But Adam, is it?
	Would you imagine what this guy is dealing with right now?
	But is it crazy that it has to go to Supreme Court for them to fight?
	Trump has to fight.
	There we go.
	Trump has to fight to keep the flights going because, Adam, for four years, they came in here willy-nilly.
	They gave them the green light.
	But Biden did L.A. Doyoka, said, come on in.
	So I'm not harping on one guy.
	Be a comedian for a second.
	I am a second.
	It's not funny.
	But just imagine you're just a regular dude.
	You end up here because of an administrative error.
	I feel like it's a Chappelle skin at this point.
	He's safe in there because guess what?
	They don't play games.
	Everybody's head is down.
	I think he was a former gang member, too.
	I don't think he was a citizen.
	But no, no, like when it comes to 80-20 issues, though, why would somebody go out and try to argue against this?
	Like, you know, like, what kind of argument are you going to make to say, like, oh, no, we shouldn't do it.
	It's not a good idea to deport gang members.
	Oh, I think everyone's on board with that.
	Illegal menu.
	Yeah, clearly not, though, because they're not arguing about this one guy.
	They're arguing about the concept of mass deportations of gang members.
	Well, he got elected on this premise.
	Right.
	He's going to do what he was elected to do.
	Yeah, no, for sure.
	I'm just saying, like, what's the pitch that people are making to say, like, oh, it's not a good idea to deport gang members?
	Like, why are you doing that?
	They just don't like Trump.
	No, but it's 5-4.
	But Supreme Court is going 5-4.
	It shouldn't be that close.
	It should be 5-4.
	Did you study the case?
	Adam, I'm studying what I'm just following what is happening.
	Anybody fighting for the other side, this is the left, and this is why they're going to keep losing.
	What are you standing on?
	And then you have Adam Schiff and Jimmy Ratsky.
	You know what they do?
	They're doing shadow hearings now.
	But did you know that?
	That's what the left is doing.
	So they're having shadow hearings because they're trying to circumvent what Trump is doing.
	This is what they're doing.
	I think it's a very, you know, simplistic answer to say Amy Comey Barrett, who was appointed by Trump, now doesn't like Trump, so she's going to vote.
	She's like Trump.
	Oh, and she votes against him.
	It's a strong argument to say she looks like she doesn't like him.
	But then you actually have to go do the work and find out maybe what she thinks on this, maybe what she believes on this.
	I don't know what she thinks, so I'm not going to speculate.
	You guys are just going down the, well, she voted against it.
	She must hate Trump.
	So, you know, there it is.
	That's a simplistic answer.
	No, I'm just going off.
	That shows you haven't done any work on this.
	No, I'm going off of, there's no, Adam, you cannot explain to me how it's a 5-4 ruling on deporting illegal gang members out of the country.
	Period.
	It should be 9-0, and then we made a mistake on one freaking guy.
	So let's fix the mistake.
	But the ruling, the ruling, Adam?
	I have to do hands.
	The ruling over art elite.
	Yeah, Gavin Newsome, let me do the hands.
	I don't want any illegal.
	If you're an illegal gang member, get the out of my country.
	Bye.
	Next.
	Sorry.
	He's very firm with this idea.
	Yeah.
	He's been partying with Venezuela.
	That's what it is.
	Listen, I stand by one thing.
	Thick Latinas are able to stay.
	All right, here we go.
	Iran.
	This is getting a little bit interesting and dicey here.
	So state control Iranian newspaper calls for firing bullets into Trump's empty skull.
	Okay.
	If you really want to get someone to like you, do something like this.
	Okay.
	So they do this.
	Perfect.
	Then Iran's currency plummets amid Trump's maximum pressure plan.
	So obviously their economy is being affected by it.
	Rob, if you got the clip, Iran's currency plummeted to record law on Saturday that each dollar equals 1,043,000 reals.
	That is insane, by the way.
	Warsen by the Persian New Year, closure of stores, and informal street trading, as reported by the Associated Press.
	The real had already lost nearly half of its value since President Massoud Pezki's July 2024 inauguration, paroiders, and international sanctions, U.S. pressure on money exchanges, turning off electrical signs due to uncertainty over real value.
	The White House February 4th announcement of President Trump's maximum pressure restoration via national security presidential memorandum aims to block Iran's nuclear weapon development and counter this influence abroad, intensifying economic strain.
	Rob, what's this one about?
	This is President Trump yesterday with Netanyahu from the White House where he talks about possibly meeting with Iran this Saturday for a nuclear deal.
	Go for it.
	We're having direct talks with Iran, and they've started.
	It'll go on Saturday.
	We have a very big meeting and we'll see what can happen.
	And I think everybody agrees that doing a deal would be preferable to doing the obvious.
	And the obvious is not something that I want to be involved with or, frankly, that Israel wants to be involved with if they can avoid it.
	So we're going to see if we can avoid it.
	But it's getting to be very dangerous territory.
	And hopefully those talks will be successful.
	And I think it would be in Iran's best interests if they are successful.
	We hope that's going to happen.
	All right.
	So what's he talking about?
	What we don't want to happen.
	U.S. base and 4,000 troops at risk of destruction if Trump strikes Iran.
	Iran warned via its armed forces run DEFRA Press on Wednesday that it certainly has sufficient weapons to attack Diego Garcia, a U.S. military base in the Indian Ocean, threatening 4,000 American troops with risk of complete destruction if Trump strikes Iran.
	The report suggested using Shahad 136 drones with a 4,000 kilometer range and Khoram Shar's missiles, despite a depleted stockpile after Israeli airstrikes in April and October 2024.
	This follows U.S. airstrikes on Thursday against pro-Iranian targets, with the Houthis reporting six deaths and additional casualties in Hodedar and Saada.
	The U.S. has ramped up its Middle East pressure with Defense Secretary Pete Hexett, extending the U.S. Harry Truman deployment and redirecting the U.S.S. Carl Vinson to the Persian Gulf, creating a rare two-carrier stance as announced by Pentagon on April 2nd.
	Okay, so that's this.
	Tom, so far, what is your thoughts on what's going on?
	And by the way, this is the clip that he tweeted about.
	If you want to press it, click the play.
	These Houthis gathered for instructions on an attack.
	Oops, there will be no attack by these Houthis.
	Just they will never sink our ships ever again.
	Wow.
	And he posts this on Truth Social.
	That is crazy.
	Click it again.
	Gangster.
	How many people are there?
	What, 50 people?
	Done.
	Gone.
	Wow.
	Thoughts on this?
	So the first thing that we read in that story was what's happening to their currency and their economy.
	This is what happens when your country is and has a currency of its own and it's allowed to trade on the world stage.
	Their economy is getting decimated because of the reaction in the financial markets and it's hurting their people and their economy.
	This doesn't happen in China because they hold the currency back and it's all artificial and they don't know what they're printing.
	So point one, this is a tool in the toolbox that the West has to work with bad actors is crush their economy.
	And by the way, they've turned off trading.
	They said they turned off the electronic signals that run around the country, Pat, where you go to like an MX office or even just a store and it tells you what the trading rates are to Euro and dollar.
	They turned those off because it was fluctuating so wildly.
	They turned them off.
	And they're like, hey, well, right now we're frozen at this number.
	The second thing, Diego Garcia, you might as well be saying, you know, Pearl Harbor.
	That base is our most precious international naval base, Diego Garcia.
	And if they launch something there, I worry that we could be baited into something because of its location.
	We don't want to be baited into this fight.
	And now you've got the two carriers standing there in the are you sure position, right?
	Are you sure you want to do this?
	I don't want to get baited into this.
	I do not want to get baited into armed conflict with Iran.
	I think there's people and hawks, war hawks in the United States that would want us to because it's good for the economy.
	Money flows into a lot of companies, blah, blah, blah.
	But it's deficit spending.
	And I just, I don't think we want to be in an armed conflict with Iran.
	They don't scare me as an adversary.
	It just, it's a distraction and it's just really tough to get out of.
	And now you've got their economy where you want it.
	And now maybe you can get them to back down saying, you know what?
	You're talking up an awful lot here, man.
	You're at a million dollars to one right now.
	You want to go to $2 million?
	Your economy is about to collapse.
	Brandon.
	Yeah, so I definitely don't want to get baited into this either.
	And what's scary about this is that in the 90s, right before Netanyahu got into office, there was a draft of something that came up called a clean break, which the plan was to overthrow Saddam Hussein, overthrow the leadership in Syria, and then overthrow the leadership in Iran.
	And Netanyahu is a big fan of this.
	And a lot of people say that Trump is being influenced by Netyahu to some degree.
	Who knows if that's true?
	But I think if we do get baited into a full-on war with Iran, then that's definitely going to support that argument because I don't see anything that's in our best interest in terms of going to war with Iran.
	I think if we wanted to change the regime in Iran, I think the easiest thing to do is to help their population have revolution because more than 50% of their population wants a new form of government.
	That's easy.
	That's confirmed.
	They've done studies on that.
	So we did it in the 50s.
	I'd say the best thing we could do if we want to change Iran is to help them have revolution, help the people have revolution because they've had a record amount of revolutions in the last 10 years.
	So I think they're primed and ready to overthrow their government if we help them.
	But do you think that if our government, I mean, every time the CIA or anybody was involved in changing regime change, it was always to make war and to have us keep fighting these people.
	Do you think it would be in their best interest?
	Because I mean, from the looks of it, Brandon, from the outside looking at it, we want a war.
	JD Vance does look like it.
	JD Vance's first time speaking.
	He was like, we're going to bomb the hell out of Iran.
	He's like, bro, he just got here.
	I know.
	And it's like, and I saw Tucker tweet yesterday, too, about, like, I think, like you said, this is, the people, I wish they had a bigger voice.
	I mean, because they're out there, man.
	They're in the streets and they're doing their thing, especially when stuff comes up, especially with the girl that had her hijab on.
	I forgot her name, but the cops, I think, killed her, beat her and killed her.
	Like, they're there.
	I don't think that.
	Yeah, exactly.
	So I don't know, but it's scary because you nailed it.
	BB has a tendency.
	Like, if he wants something and he's like, he pushes towards it, like with Saddam Hussein and all these, when he said, you know, going to war with Iraq would send positive reverberations around the region.
	It did anything but that.
	So I just hope nobody's in his ear.
	I mean, they're going to be in his ear, but he doesn't take debate because a war.
	Whatever you think of tariffs, it's clear that now is the worst possible time for the United States to participate in a military strike on Iran.
	We can't afford it.
	Thousands of Americans would die.
	We'd lose the war that follows.
	Nothing would be more destructive of our country.
	And yet we're closer than ever.
	And thanks to unrelenting pressure from neocons, this is suicidal.
	Anyone advocating for conflict with Iran is not an ally of the United States, but an enemy.
	Adam.
	Well, a lot to unpack here.
	First and foremost, the people of Iran deserve better than what they've had to suffer for the last 45 years.
	So let's just start with that.
	You know, they talk about, you know, free Gaza, free Palestine, yeah, from Hamas.
	Free Iran from the Ayatollahs.
	They deserve better.
	You know, the whole concept of regime change is that you don't know what's on the other side.
	So when you get rid of ISIS, who's coming into power?
	When you get rid of Saddam Hussein, who's there, right?
	When you get rid of Bashar al-Assad, who's there?
	We know who's there in Iran.
	It's the people of Iran.
	It can't be worse than who the current leadership is now.
	So whether you put the Shah somehow back in there or whether they have an actual leader, an actual Democratic leader, it can't be worse than the Ayatollah's.
	Now, as far as Iran goes, you know how they say, like, believe someone when they tell you who they are?
	When the regime of Iran is screaming death to America, when they're burning the American flag, when they're trying to get a nuclear weapon, you know what?
	I believe them.
	And at what point do we say, all right, enough's enough here?
	Barack Obama and Joe Biden gave Iran how much money to appease Iran?
	What did that do?
	Trump is playing hardball.
	I'm being like, nah, dude, we're not playing this game.
	And, you know, people want to give Bibi Netanyahu a hard time.
	I get it because he's Israel and he prioritizes Israel not ending in a nuclear holocaust because that's literally what Iran wants to do.
	There's a clock in Iran.
	Bibby, did you know what this is?
	A clock in Iran where it's like the death to Israel clock.
	So this is what their objective is.
	So real quick on Israel, Israel is feeling a little bit more powerful than ever because Iran's been basically, you know, that guy that just talks trash.
	Yo, what's up, bro?
	You want to go?
	And then they go, and you realize that wasn't tough at all.
	And then Israel punches back and knocks them out, took out their air defense capabilities, knocked out their military sites.
	And then last point here with Trump, it just came out, I think, a few months ago.
	Three Iranian-backed men tried to assassinate the president.
	We've heard the story, right?
	So you don't think that Trump has a little something, you know, up his sleeve for Iran?
	I don't think we need a war with Iran right now.
	But the bottom line is Iran is not as tough as they make believe that they are.
	That's my thoughts.
	You know, you know what's going to, by the way, if you look at the real, I just looked up right now what the real was to dollar when I left Iran and came here.
	In 1979, the real was for every U.S. dollar, you could get 70 Iranian reals, 70, okay?
	Then in 89, when I left, I was born in 78, so I'm saying 79.
	When we left in 89, in 89, it was 90 reals to a dollar.
	If you just type in 89, okay?
	89.
	Yeah, you got 9,200 reals per dollar.
	And he said today in the story, a million reals to a dollar?
	What?
	That's the story we just read a minute ago.
	Ridiculous.
	That's insane to see where it's at today.
	What is it today, Rob?
	Today, Rials to dollar today.
	Yeah, but you got to flip it the other way around.
	So that would be 500,000, give or take, right?
	So that's extremely devastating to the people that are living there.
	Okay.
	So there's a couple of things here that's going on.
	You know, Tucker, in regards to war, who the hell wants war?
	Whoever wants war, period?
	Nobody does.
	Should the president be able to, should the president be at 42,000 to 1?
	Should the president be able to, so Rob, I think the story said something about, if you go to page six, the story that we just read, the story says, let me go to it.
	About the Iran's currency plugin.
	For a record low on Saturday?
	Yeah, it says $1 equals a million.
	$3,000 reals.
	That's the story.
	Look at that right there.
	So, Pat, if you go a little bit.
	And when I left, it was 70.
	So if you go there with $5,000, American dollars, you're chilling.
	Oh, no, you're a billionaire.
	Well, that's what you are.
	Holy crap.
	Go to it.
	So let me ask you a question.
	Here's a question.
	So shouldn't Trump be able to use that threat?
	Should he be able to use that card that if we do this, we will destroy you?
	Should he use that?
	Do we want to go to war?
	No.
	Should he be able to say, if you do this, we're going to do this?
	Should they be able to do that?
	Is that a card he should use?
	Should he be allowed to use it?
	He should be allowed to use it.
	Should he be using it right now?
	I think that's more questionable.
	Because last time it worked out, I mean, like when he took out Sulimani and teamed Iran quieted down pretty much.
	Nothing.
	They went and reacted to a base where nobody was there.
	They knew nobody was there.
	So nothing happened.
	But let me tell you what happened.
	Where I'm going with this.
	There's two thoughts on this that I have.
	One is, I had DJ Shipley and Cole Fackler here last week, I think, Rob, if I'm not mistaken.
	Their podcast goes out tomorrow.
	Sick podcast.
	Cole told a story that he's never told before that has to do with Osama bin Laden.
	And the way he said it was very awkward.
	And he says, I've never said this before.
	Okay.
	You'll have to hear what he said.
	He said it on the podcast.
	He said on the podcast.
	Yeah.
	So, but I asked him a question.
	I said, listen, you know, what do you think about threats?
	Like, out of all the countries in the world, I asked DJ this question.
	Who do you not believe?
	Whose threats have no weight?
	Right?
	Like, you know, I'm going to do this.
	You're not going to do shit.
	I'm so.
	Holy shit.
	That guy's going to do something.
	I'm going to kill you.
	Believe him, right?
	I said, if you notice a lot of threats Lately, with Putin has been Ukraine, nuclear, nuclear, nuclear.
	Three times, nothing's happened.
	Ukraine has not backed down.
	I said, Trump, hey, if you don't release all the hostages, Hamas, we're going to do this two, three times.
	They still didn't do all of them, right?
	If I'm not mistaken, all the hostages have done it.
	They're not all done.
	I said, okay, so, hey, we're going to do this.
	Whose threats do you not believe?
	And I'm going to Iran when I'm asking this question.
	And he says, well, we definitely didn't take Osama bin Laden seriously all those years when they said they're going to do something.
	And then we realized they did.
	So you know what we do now?
	We take every threat seriously.
	Every threat seriously.
	We don't sit there and say whether we're going to do it or not, that we don't have the ability.
	We can't do that.
	Meaning both of them are Navy SEAL Temp SEAL Team 10.
	17 years they both were in there now.
	They run a company together doing incredible things together.
	But the second part to me is the following.
	So Trump's trying to change the comp plan to a 250-year-old company.
	And this is what I mean by it.
	So when you have a new insurance company, new company period, I changed the comp plan so many times because I could were small.
	And it was drastic changes I would make.
	Boom, I lost 28 guys.
	I lost 17 guys.
	I gained 88 guys.
	And then you would kind of see which compass producing what results, right?
	It's like changing the tax system.
	Trump is changing a comp plan with countries around the world with tariffs.
	Super disruptive, super, super disruptive.
	You're in the middle of doing that and you want to deal with this Iran situation.
	I think here's what's going to happen.
	I'm not one to sit there and, you know, I wrote a book called 25 Laws for Doing the Impossible.
	So I'm not one that's going to be saying don't do it.
	But it's either going to cause every one of them to fall apart and none of the deals to get through, or they're all going to happen.
	And sometimes it's about sequencing.
	So I'm just wondering if we go into war right now while you're trying to change all the tariffs, does that slow things down?
	Yeah.
	Does that throw a wrench in the does that get some of the people to be a little bit hesitant?
	Does that get some of your own people that won't be on your side?
	Do you think 100% of people on Trump's camp are for war?
	Do you think 100%?
	So this is when all of a sudden it's been long enough where we're getting close to the first hundred days that some of the people even on his own camp are going to be like, look, man, I'm just not for what they're doing over here.
	Look, I'm glad that we won, but I'm not for this.
	And if you get about, you know, 40% that now disagrees with you internally, that we're all aligned, even behind closed doors, you know, then you start worrying about who to trust.
	Is that person on my side?
	Is that person not on my side?
	Then that can lead to a panicky type of a leading, which that's not the vibe he gives today.
	He seems like he's very stable and confident what he's doing.
	He seems like he has 100% of it all under control.
	He seems happy.
	But I don't know.
	There's a part of me that says Iran has to know, look, you keep doing this.
	Here's what's possible.
	But at the same time, you don't ever want to use that card.
	You want to avoid that crawl as much as possible.
	He just did, just so you know.
	That bomb on Houthis, hey, you guys having a meeting?
	No problem.
	Boom, you're dead.
	So he's already done it.
	So it's not like it hasn't happened yet.
	We've already played offense.
	He's already shown that I'm ready for it.
	You know, and the speculation about this and that, and is it this?
	Is it allies that?
	Is it Israel?
	He's trying to do deals.
	Yep.
	I think he's at a phase right now that he's trying to do all these deals.
	And deals sometimes means, what do you need from me?
	I'll do this.
	I'll give you this.
	He's transactionally looking at deals being done.
	And he knows he's got to do something for you as well.
	It's not going to be 100% of deals being done for you.
	That's kind of how I process this.
	And don't forget this one thing.
	You know, Trump's not just talking tough.
	He's already taken action.
	Soleimani, killed the general, done.
	You know, he's behind closed doors, been working with BB on whatever they're working on.
	But listen, Trump has a deep, deep vision, objective to get stuff done in not four years, not in two years.
	I want to get this, this, this, this, and done.
	Tariffs, border, immigration, doge, taxation.
	What are we doing here?
	Russia, Ukraine, Israel, hostages, Iran.
	This is just one more thing on his list.
	So he wants to accomplish.
	Hold on, Brittany.
	He wants to accomplish all these things as soon as humanly possible.
	I love the reference you made.
	25, what is it?
	25 days doing the impossible?
	25 blocks for doing impossible.
	This guy's got 250 things of doing the impossible before America's 250th birthday.
	So I think Trump is going to get all this and that done before then.
	How delicate do you think the regime is in Iran right now?
	Like, how much assistance do you think they need to topple the regime for the people?
	You know, there's what, two or three revolutions in the last 80 years.
	So how close do you think it is to something like that?
	How much help do you think they would need in executing that?
	I asked him the question.
	It wasn't in his top priority.
	I know it's not his top priority, but I wonder if it would even require it.
	Iran can't do without the help of Trump.
	Iran can't do without the help of Trump.
	Like, you know, the camp, even if they do, let's just say they create a revolution in Iran.
	Yeah.
	They're going to say Israel was behind them.
	They're not, you know, no matter what happens there, and I'll go back to when's the last time Iran was safe, at peace, Middle East, no issues for decades.
	When?
	78.
	What happened pre-78?
	Shah was there.
	Right.
	It's a very different way of living and running the world.
	They got along with Israel.
	Things were good.
	No wars.
	People weren't getting killed.
	They had 3,000 political prisoners.
	They told us it was a lot more than that.
	Even the founder of the IRGC Islamic Revolutionary Guard Corps, who started with Khomeini, said, no, that number was never accurate.
	It was really around 2,500 to 3,000 people.
	We exaggerated the number.
	Now you want to say it?
	But you toppled a great country.
	The people got along.
	I saw a concert yesterday.
	I texted to my dad.
	You know what concert I saw yesterday?
	I don't even know if we can play this or not.
	But maybe, Rob, I'm going to send it to you and don't play the music.
	Just play the clip.
	And you're going to be shocked when I send this to you.
	Rob, just play this clip here.
	This is 1975 in Iran.
	Okay.
	1975 in Iran.
	Try to find a way, Rob, to mute the audio and just play the video.
	Don't play the audio.
	Just play the video.
	Even though I don't think there's going to be any issues with it, I just want to make sure we go.
	Yeah, you're going to see it right now.
	Here's what it is.
	You ready?
	This is 1975 in Iran.
	Sinatra.
	Get the video.
	Just go.
	That's 1975 in Iran.
	That's him.
	That's Iran.
	That's what Iran was like.
	Can you imagine right now Justin Bieber going to Iran?
	Can you imagine right now, you know, Adele going to Iran?
	Okay.
	Who's the other guy?
	All of these guys going to Iran and perform.
	No, they're not coming back.
	Look at this.
	Look at the beauty.
	Okay.
	Look at that.
	Music, enjoying Frank Sinatra, hero, being there, hanging out.
	That's Iran.
	That's the Iran most people today don't know.
	It's people wearing solar ties and dresses.
	There's some of the most incredible math, intelligence, engineering.
	This was a beautiful place.
	The people have such a rich history.
	One of the famous, most famous Iranian soccer players that played with Messi is a good friend.
	He's messaged me on Instagram saying, hey, I went to the Shah's house in Iran.
	I want to send you clips.
	He was sending me clips of what the place will look like.
	This is just last week, the museum.
	It's not the same of what it used to be, but that was Iran for you.
	So to go back to that, it requires a massive revolution.
	But you need the help.
	Do they know that, though?
	The people there, do they know that used to be this way?
	People in Iran know that.
	No, of course they know that.
	That's a business.
	Because it's not like this was hundreds and hundreds in his life.
	46 years ago.
	That was 46 years old.
	In my lifetime, that was Iran.
	Yeah, besides the security aspect, you know, to make sure no terrorism or stuff like that comes out, what would be an incentive for Trump, on top of that, to go and help them to do something as drastic as a revolution?
	Are you kidding me?
	Like, take Iran out.
	Take Iran out.
	How many proxies do they control?
	All of them.
	Okay.
	Hamas.
	So who else?
	What do you think Saudi wants?
	You think Saudi NBS likes what Iran's doing?
	No.
	No, what do you think?
	Because Saudi wants the Middle East to be peaceful, so people want to go there.
	They would like to see the Middle East have traffic going in.
	Dubai, look what happened with Dubai.
	Dubai is doing a great job.
	Look what's going on with Dubai.
	Even Dubai had to make some adjustments with outside with kissing a girl or some of that stuff.
	They even came a little bit more fluid with that.
	But no, I mean, to me, this is a very complicated situation where everybody can jump to conclusion with different things to say, but the president's trying to handle and juggle all of them at the same time.
	And you're going to stumble every once in a while.
	So far, they've been able to get it under control, 80% of the stuff that they've been doing.
	But this is a delicate situation.
	And by the way, Iran is one of those things.
	Like, you know, when you're controlling everything in the company and you look at what departments it can go zero to nuclear, you score every department or every business that you're running.
	And you're like, that department's going to be fine.
	That company is going to be fine.
	That business unit is going to be fine.
	That leader running that department is going to be fine.
	That department is going to create a lot of headaches.
	Iran is one that can go zero to non-stop headache overnight.
	That's how it can happen.
	And that's why I'm saying you have to be prepared for everything that could take place, but at the same time, I want to go to our last story and then wrap up.
	Jerome Powell, this is the only story that we haven't done that I do want to do.
	Powell predicts when Americans will feel ripple effects from Trump's global tariffs.
	Rob, if you got this clip, I think you got a clip on this, if you can play, because Trump calls for federal feds Powell to cut interest rates and stop playing politics.
	That's what Trump said, okay?
	On the same exact day when Trump says this, President Trump urged Federal Jerome Powell to cut the rates on Friday on Truth Social.
	This would be perfect time for federal Jerome Powell to cut interest rates.
	Energy prices are down.
	Interest rates are down.
	Inflation is down.
	Even Egg is down 69% and jobs are up urging cut interest rates, Jerome, and stop playing politics.
	That's Trump.
	And this is what Jerome Powell said.
	Go ahead and play that clip, Rob.
	We have stressed that it will be very difficult to assess the likely economic effects of higher tariffs until there is greater certainty about the details, such as what will be tariffed, at what level, and for what duration, and the extent of any retaliation from our trading partners.
	While uncertainty remains elevated, it is now becoming clear that tariff increases will be significantly larger than expected.
	And the same is likely to be true of the economic effects, which will include higher inflation and slower growth.
	The size and duration of these effects remains uncertain.
	While tariffs are highly likely to generate at least a temporary rise in inflation, it's also possible that the effects could be more persistent.
	Avoiding that outcome would depend on keeping longer-term inflation expectations well anchored, on the size of the effects, and on how long it takes for them to pass through fully to prices.
	Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem.
	We'll continue to carefully monitor the incoming data, the evolving outlook, and the balance of risks.
	We're well positioned to wait for greater clarity before considering any adjustments to our policy stance.
	It is too soon to say what will be the appropriate path for monetary policy.
	Tom excuse me.
	Tom, I just said your name.
	Tom's getting very emotional over Jerome Powell.
	Tom, yeah, yeah.
	So I got you.
	So, with this, I think that we don't need to cut rates right now because I think we're going to take care of the inflation just fine with what's going to happen with the market.
	So, I think just as a result of the market going down, like oil is already below $60 a barrel.
	So, inflation is going to go down.
	I don't understand how people are trying to make the argument that tariffs are both going to make the stock market go down and cause inflation.
	Like, no, we're not going to have inflation if the stock market's going down.
	That's one thing.
	Two, I don't like Trump telling the Fed to what to do with the rates.
	And I absolutely despise the fact that the Fed controls the rates.
	I think that's the most communist thing ever: that we have this weird company, this weird private company controlling the price of money for our entire country.
	I think that the 10-year treasury should be what we base things off of in terms of interest rates because I think that's the market telling you what the rate is rather than some weird governing body telling you what the price of money should be.
	So, you don't like the fact that Trump's telling Fed, but you also don't like the fact that they dictated.
	Yeah, so what would you like ideally to happen?
	So, as I just said, so like whatever 10-year treasury should basically act as the Fed's federal funds rate because that's the market telling you that the market buys and sells.
	The treasury market's probably the smartest group of money in the world.
	So, I think that's like a better market-based way of saying what the price of money should be instead of Powell just going in and giving his opinion.
	Tom, well, what was interesting was the last thing he said: it's too early to determine if these economic forces have impacted monetary policy.
	He's talking back to the president, president's saying, You got to do this, you got to do this.
	He said, It's too early to do it.
	Well, May 6th and 7th is what they're all aiming at.
	Write those down: May 6th and 7th, June 17th, 18th.
	Those are the next two meetings of the Fed.
	May 6th and 7th is coming up.
	We're less than a month away now.
	We're just under a month away.
	And what Trump wants is, hey, look at all this mayhem.
	Give me a quarter point.
	Better yet, give me a half point.
	That won't happen.
	But give me a quarter point.
	And the Fed Board of Governors, it ticked up yesterday where it suddenly was over 25% chance.
	Like they were all in sub-voting, you know, though, the dot chart.
	All of a sudden, it was like a little bit high.
	And so maybe there's a 30% chance in May.
	So what Trump is trying to do is put political pressure on the Fed to look at all of these other statistics and say, yep, let's give a quarter point.
	Because what does that do?
	That lets businesses borrow at a lower rate.
	That lets them borrow money more.
	And maybe that puts a little more pressure deeper Grock here on the 10-year or the 30-year in the bond market, which will help mortgages go down because right now, mortgages have got one of the highest spreads they've had in a while.
	In other words, the bank on the 30-year fixed, I think, right now is six and a half, depending on what bank you look at.
	Right around, and Trump wants to see 5.875.
	He wants to see a five because people say 5.875 is the mental that is the mental barrier that I'm getting a five rate.
	And so take that and do it with what you will.
	But Trump wants to get a cut on May 6th and 7th, definitely on June 17th, 18th.
	Adam, well, you know, there's a song that goes, You can't always get what you want, but if you try sometime, you get what you need.
	With Jerome Powell, Trump has met his match.
	Who appointed Jerome Powell chairman of the Fed?
	Well, in 2018, Trump did.
	And for seven years now, Trump's been trying to dictate, mandate, criticize, condemn Powell, and Powell's just been like, nah, I'm good, bruh.
	And just does what he wants.
	Now, you can criticize Powell.
	You could say he's doing a good job.
	Job is doing a bad job.
	In my opinion, he's doing a very steady eddy job.
	So I love the fact that the president can't just control the chairman of the Fed.
	So it's called polarity.
	You know, Trump is all gas.
	Jerome Powell might be the brakes, right?
	Thunder and lightning, logic and emotion, order and chaos.
	Trump wants to go, At some point, someone needs to be like, relax.
	I got this thing over here.
	We don't want Trump just dictating everything that's going on in this country.
	We want someone saying, well, look, have you thought about this?
	I don't know about that.
	So I'm totally in favor of Jerome Powell doing what's best for America.
	And Trump will also think, do what's best for America.
	And hopefully the two meet in the middle.
	But until then, I'm cool with Jerome Powell holding the line.
	Is the Fed so they don't who do they answer to?
	Because isn't it an unelected body?
	It's the bank.
	Like Citibank, JV, Morgan, Chase.
	They're not elected.
	They're chosen, but they answer to themselves.
	They're nominated and then elected.
	And then Jerome Powell has his own term.
	And the president cannot fire him the same way he can fire all of the cabinet members.
	Is saying, because most every cabinet member resigns before they're fired when you change presidents.
	Jerome Powell, he's not that way.
	He has a term that he serves out.
	Gotcha.
	That's a 10-year term.
	I'm just curious because every time, because Brandon, like, Brandon makes a good point.
	Like, who are they answering to?
	How do they have that much control?
	And I'm not saying I wish Trump could fire anybody or whatever, but if you're just on.
	All the way back to you got to reach Jekyll Island.
	We hosted an event at Jekyll Island in the room where the Federal Reserve got started.
	It's a compound.
	It's a very interesting, very weird place, filled with trillions of mosquitoes.
	If you go to that restaurant right by the water, you're going to be bit from head to toe if you're at this property.
	But there's a lot of history to this place.
	Anyways, we're at the end of it, guys.
	A couple things.
	This cigar lounge thing this weekend, last weekend, prior weekend, it's been very, very busy, very interesting.
	A lot of fun.
	This last Friday night, this place had a lot of interesting guests that have been showing up a lot.
	Rob, if you can pull up this clip here, this is a highlight from the last couple of weeks.
	Go forward, Rob.
	Do we have audio?
	Right there.
	The audio is paused, Rob.
	Can you go back?
	Rob, can you go back?
	Go for it.
	Good conversation.
	Sports, football players, NBA players, producers.
	People showing up business, people all over the place.
	Wow.
	Members only, guys.
	It's a very, very exciting.
	Three tiers of membership, silver, gold, and platinum.
	Rob, what is the website to go to to apply?
	You have the website to the boardroom cigar lounge.
	Is that the QR code right there?
	Yes, that's a QR.
	I'm going to check to see what the website is so I can say to the Spotify audience.
	Yep, it's boardroomcigarlounge.com.
	BoardroomCigarLounge.com.
	BoardroomCigarLounge.com.
	We had a person become a member the other day that's not even from the states from Brazil.
	We have people internationally becoming members of this place and to come and visit.
	There's benefits to Platinum.
	We have an announcement to be made here soon for a live event there.
	But anyways, if you do want to be a member, everybody, there's no phones allowed in this place when you get in.
	Nobody can have a phone.
	No one's taking pictures.
	If everyone's asking and saying, hey, I want to exchange numbers with this person, what do I do?
	Back in the 80s, you would write it down.
	So grab a paper and pen.
	It's really cool.
	And there's a lot of new surprises.
	Members know about this.
	If you want to find out more, apply.
	Everybody goes through background check and then some of you guys will get a chance to be there.
	I'm there quite often, and we'll get a chance to have a conversation as well.
	Anyways, take care.
	God bless.
	We'll do it again on Thursday, tomorrow.

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