Steve Pieczenik - OPUS 83 The Fed and Jared Raw Aired: 2018-10-11 Duration: 04:03 [00:00:01] Hi, this is Dr. [00:00:03] Pechenik. [00:00:03] Today we had a major problem on the stock market. [00:00:08] We fell 800 points. [00:00:10] The reason for it was the increase in interest rates. [00:00:14] This is the sixth increase since Trump has been elected in 2016. [00:00:21] There will be another three increases in interest rates. [00:00:25] The man in charge of the Federal Reserve, Jeremy Powell, has been very judicious about increasing the interest rates by 25 basis points. [00:00:34] I understand why Trump says this is crazy, but it's not. [00:00:38] In effect, the Fed is a very good one. [00:00:39] That country needs to have a stabilized economy which cannot go into inflation. [00:00:44] The problem has been not only the increase in interest rates, but also the fact that we have not resolved the Chinese tariff problem with the United States. [00:00:54] Right now, we're paying a very heavy price on base elements like aluminum, steel, paint, and the price of cars are going up 10%, 20%. [00:01:04] And that's what the market is reacting to. [00:01:07] Mr. [00:01:08] President, I think it's time for you to go overseas, resolve your issue, both with Kim Jong-un, which I know you will be successful, and then resolve it with President Xi, who will also open up and will be grateful to solidify this issue. [00:01:26] Now let me get to a more serious problem, the clear and present danger on behalf of two people. [00:01:31] One is Jared Kushner of the White House and the other one is Prince Al-Salman of Saudi Arabia. [00:01:37] Both men are equally stupid, equally incompetent. [00:01:40] Why do I say this? [00:01:41] I've said it for over a year that Jared Kushner is a clear and present danger to the United States. [00:01:47] His approach to the Middle East is one of ignorance and total incompetency. [00:01:52] He sent over two Jews to negotiate with Israel where there has been no history of Jewish interlocutors being successful to make a peace treaty in the Middle East. [00:02:04] Secondly, he has supported al-Saman, another spoiled princeling of the Saudi family who's not very bright and who in turn has just killed a Saudi citizen in a Turkish consulate and dismembered him using 15 Saudi operatives. [00:02:22] Now, al-Saman is so arrogant that he said the only thing that will stop him is death. [00:02:28] I'm a strong proponent that in the Saudi military there be a rotation between Riyadh and Jidda and that someone understands that there has to be a young colonel who will come to the forefront of the Saudi family and deal with the problem of Salman. [00:02:44] As for Jared Kushner, whose father was in jail and was stupid and corrupt, just like his son Kushner, I would say get rid of him. [00:02:54] He is a danger to the United States. [00:02:56] He has no understanding of strategy, no understanding of tactics. [00:03:00] He's corrupt. [00:03:01] And unfortunately, Nikki Haley, who was not all that bright, thought he was a genius, which shows you what a lack of perspicacity she had. [00:03:09] So what is the problem with Jared? [00:03:11] He thinks he can solve the Middle East peace process by employing al-Saman and Saudi Arabia to negate anything to do with the Palestinians. [00:03:20] Big, big mistake. [00:03:22] And the other part that's a big mistake is he's not going to get involved in our strategy or our tactics. [00:03:28] He has to leave the White House before he gets indicted and implicated for exactly what he is, a corrupt, ignorant, not very bright Jewish student. [00:03:39] Now, why do I say that? [00:03:40] Because the rabbi who was in charge of his Hebrew school said he was dulled. [00:03:45] And his father had to pay $2.8 million to get him into Harvard. [00:03:50] Now that's a pretty stupid guy. [00:03:52] So from the words of Peter Lynch, who was head of Magellan Fund, he said the following, You only have to have a fifth grade education to understand the stock market. [00:04:02] The rest is up to you.