Europe panics over a potential "NATO 2.0" as Trump threatens base closures in Spain and trade deals with the UK, while the U.S. allegedly spent $980 billion on NATO in 2025. Simultaneously, Eric Swalwell's political career collapses amid sexual assault allegations and ties to Chinese spy "Fang Fang," exposing alleged Democratic cover-ups by Nancy Pelosi. This convergence of European strategic anxiety and domestic political scandal signals a historic shift where the U.S. reclaims global dominance through unilateral military power and ruthless economic policy. [Automatically generated summary]
Transcriber: CohereLabs/cohere-transcribe-03-2026, Qwen/Qwen3-ForcedAligner-0.6B, sat-12l-sm, and large-v3-turbo
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Europe Going Solo00:11:34
What do you know?
Sometimes, if you just push them far enough, sometimes they might actually just do the right thing.
We have word today that NATO is planning a NATO 2.0, if you would.
They want to know what it's going to be like to go solo without the United States of America, you know, moneybags holding everything up.
And believe me, we are moneybags.
We spent nearly a trillion dollars in 2025 alone on NATO.
I think the next closest country was Germany that came in at barely 10% of that.
I mean, come on.
And then you won't even let us use the bases.
So, what's happening right now here on the ground, live from London in the UK?
We have learned that the UK is very nervous about the president tearing up its trade agreement with the increasingly vulnerable UK because of Brexit, et cetera.
And they're worried about that.
And NATO simultaneously is very, very worried that Donald Trump is going to say, See ya for good.
Adios, as they say in Spain.
Spain's been a real problem, by the way.
Reminder subscribe.
It's good to have you guys here.
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We are here live.
Let's hope it goes well today because you know what?
We had a little mishap yesterday.
Some of you were able to catch the show on the premiere later, but we had some challenges on the tech front.
Not tonight, not today.
NATO.
Right now, trying to plan for a future without the United States of America, because I think it's become abundantly clear we're not so interested in having a future with NATO.
Watch this.
We're doing a great job for the country and for the world.
You know, we've had no help, zero from NATO.
We're there for them, they're not there for us.
We spend, you saw the chart that came out a couple of days ago, with a big monster red ball that was us, and all these little satellite balls, and it represented the money spent. on military and NATO.
And it's ridiculous.
And they should have been better.
They should have said, we'll send somebody.
It's a small operation compared to a big operation.
But NATO was not there for us.
And what it means, if they're not there for us here, they're not going to be there for us.
So why are we spending hundreds of billions of dollars a year on NATO if they're not going to be with us?
If they're not going to be with us on Iran, they're not going to be with us on a much bigger subject than Iran.
In other words, we hate to burst everyone's bubble, hate to be the buzzkill in the room, but this is reality, okay?
I want to show you the chart that he's referring to.
Here you see how much money the United States is spending on NATO $980 billion, which is basically 62% of all the money that they have.
They only have $1.59 trillion.
We're spending nearly a trillion of it.
I mean, that's a lot of money.
And you look all around at, All those other little countries, right?
You've got Italy spending 49 billion.
You've got Spain with their 36 billion.
Boy, they're furious about that one.
I mean, they're furious.
They don't want to spend anything.
You've got Poland at 44, Belgium at, ooh, that's a really teeny little amount there.
Was it 14?
I can barely see it.
It's so small.
All right.
So this is not a good look.
This is not a good look for the world.
And especially, it's not a good look when all those places that you're spending money in, Like the hundreds of millions of dollars in Spain on those bases that we have there, and we can't even access them?
Are you kidding me?
So now the president has reached that tipping point, and as a result, Europe is trying to figure out how they're going to go solo.
Good luck, guys.
Good luck.
But you know what?
We want to encourage you to do that in all seriousness if this is what it takes.
It's almost like what we see with the media industry.
I mean, the media industry has been collapsing for a variety of reasons that we've talked about, including the fact that, yeah, you can come over here and we can stream and we can actually have a little more freedom and do things in a very, very different kind of way.
Well, that's one part of it.
But the other part of it is that they only give you the same darn narrative over and over and over and over again, right?
It's the exact same thing all the time.
And it's, we hate Trump.
We hate Trump.
He's the next, you know, worst thing since, well, Adolf Hitler.
I don't even play a lot of that sound because it gets nauseating after a while and you can only take so much.
And it's insulting to history.
It's insulting to the millions of people that died in World War II.
And it's insulting, frankly, to everyone's intelligence that they go down that path.
But that's what they do.
And so what has he had to do with the media?
He's had to say, hey, guys, you know what?
Enough is enough.
You got to be a little bit more fair.
You got to have both sides.
And in having both sides, you get what we call a little pizzazz.
Yeah, you know, when you have two sides, it's kind of more interesting.
I mean, that's why I do show you things like The View, which I know nobody really wants to see, or Ilhan Omar, which again, nobody really wants to see, but isn't more interesting when you understand the other side and where they're coming from, even if it's idiotic, as it so often is.
Well, you know, he's given them the little push, the little heave ho to get the media industry back where it should be.
And maybe you need to give the little push, the little heave ho to Europe.
To get Europe back where it should be, if you can.
I mean, you gotta give it a shot, though.
Stand on its own two feet because these numbers are really not looking so good.
You see what I got on the screen right there?
NATO defense spending.
Just another, you know me, I love charts.
What business reporter wouldn't love a chart, right?
Like, I had to take that other chart and make it into another chart just to see it in a different kind of way.
We could do a line chart, too, but I just wanted to show you the bar chart.
And you can see there, wow, $980 billion, nearly a trillion dollars that we're spending.
And what are we getting for it?
Nothing.
And so, what we have happening right now, as you consider the pressure on NATO, the pressure on Iran, the pressure that we've put on Latin America, Venezuela included, is you have now this pressure machine which is saying, enough with the passive United States of America.
We're actually going to have a role.
If we're going to be the hegemonic power of the world, well, gosh darn it, we better act like the hegemonic power of the world and people ought to pay attention to what we're doing, otherwise, we're just mom and dad giving out.
Big giant allowances to a bunch of spoiled brats that don't care to work, that don't care to even, you know, come for Sunday dinner.
It's like, I think it's time for you guys to get shut off.
And so that's what's happening in the here and now.
And wow, the Europeans are getting the message.
Look at the headline in the Wall Street Journal today.
The headline, by the way, in the FT where I am here in the UK is that they're very worried Trump is going to.
Rip up that deal that he made, the UK trade deal.
And you know, he may.
I mean, anything's possible, for goodness sakes.
Europe is accelerating a NATO fallback plan in case Trump pulls out.
I think this is actually encouraging news.
Again, it's getting the kids out of the nest.
It's saying, hey, guys, you know, you ought to be able to come up with some sort of way to deal with this on your own.
You shouldn't have to look at money bags all the time, footing the bill, especially when you keep giving us the middle finger, as you've done over and over and over again throughout this crisis.
And as they continue to do, you know, on the one hand, you'll have Mark.
Ruta came out and said, Well, you know, we were just upset because no one consulted us.
We couldn't consult you, obviously, because then we would have lost all surprise and we wouldn't have had the success that we have had.
So that was off the table from the very beginning.
But they're upset because they were not consulted.
And they figure because they were not consulted, this is Iran's problem with the U.S. and Israel.
They are literally calling it here in the papers the Israel American war on Iran.
How's that for a setting?
So, okay, you guys are going to have to.
Fla solo, see what it's like trying to take care of yourself and Vladimir Putin over there who's making a run for Ukraine.
I mean, we've spent a lot of money on that, guys, a lot, and nothing to show for it.
This is, again, going back to the Wall Street Journal's reporting a European fallback plan is being put into place to ensure defense using NATO's existing structures.
It's gaining some traction because of apparent buy in from Germany.
I guess Germany is calling the shots because, you know, they're at 10%.
Of what we contribute.
And their next best a fallback plan to ensure Europe can defend itself using NATO's existing military structures if the U.S. departs is, as I said, gaining traction.
The plan gains urgency amid European anxiety over Over US reliability, given all the threats the president is making, including the threat he made this morning on Maria Bartolome, my former colleague at both CNBC and Bloomberg.
No, she wasn't at Bloomberg, forgive me, Fox Business.
Yeah, two out of three isn't bad.
Anyway, he made these statements to her and once again reiterated his frustration with NATO.
So apparently, some people over here on this side of the pond are getting a clue, they're getting an idea.
The Europeans are now taking a more command and control kind of role, accelerating production.
Of vital military equipment.
Finally, I mean, finalmente, as they'd say in Italia.
I mean, whatever it takes, guys, whatever it takes.
But it's sort of funny, right?
Last night, the reporting out of the Wall Street Journal was, woo, Europe's really wringing its hands.
Europe is actually thinking about having some Zoom meetings and Zoom calls to figure out how they can take over the Strait of Hormuz.
It's like, guys, sorry, we did that.
Like our blockade happened over 24 hours ago, and you guys are just thinking about getting together on a Zoom call.
Well, Laura Ingram at Fox and her guest had a little bit of fun with that.
I want to show you this clip because they're comparing it basically to a Seinfeld episode.
It's like, you know, who's on first, for goodness sakes?
Over here, the Europeans are so confused that they're sitting here going, well, maybe we should have a call.
Maybe we should have a discussion about what we would do to make sure we can ensure the security in the Strait of Hormuz.
All is the U.S. is doing it, right?
The American way.
Here, watch this.
Now, the Wall Street Journal is reporting that Europe is drafting a post war plan to free up the Strait of Hormuz without the U.S.
So, Macron, Starmer, they're going to be hosting another online meeting of several dozen countries to discuss how best to police Hormuz once the hostilities end.
What do you make of this?
Is this credible?
I mean, to me, it just seems absolutely pathetic.
This sounds like a scene from Seinfeld.
The Europeans are huddled having a meeting about how to open the Strait of Hormuz one day without the United States.
Well, you know what the United States is doing right now?
It's reopening the Strait of Hormuz without Europe.
The president's already transited the Strait of Hormuz.
We have destroyers on the other side, clearing the path for international shipping with more of a naval armada on the way to augment what we already have there.
And because we've halted the major military operations, which was the focus of those naval forces along with our air forces, now they can be redirected, repurposed.
Reopening Strait Without US00:15:06
To the tanker convoy missions, protection missions, and deterrence against Iran.
The president is doing it on his own without Europe, but we'll remember.
You better believe we will remember.
We will remember all of it, right?
Who can forget?
And I can tell you there's one person who's definitely, positively not going to let us forget.
I mean, other than me, right?
Because I'm not going to let you forget.
But there's one person who's really ticked off and perturbed by the middle finger we keep getting from the Europeans.
And you know who I'm talking about.
You know, we spend trillions of dollars on NATO to help them guard really against Russia.
When you think of it, we're guarding against Russia.
And I've long thought it was a little ridiculous, but we spend trillions of dollars doing it.
And I think that's going to be under very serious examination.
Thank you very much.
Thank you very much.
And he walks off.
I love that clip.
Yeah, it's under serious consideration because.
Here's the reality.
We can't continue to afford to just dish out money to no end.
I mean, it's just not going to happen anymore at some point.
You know what?
Push comes to shove.
And you've got to say, enough is enough.
And we have reached that point in time where we have made the conclusion or come to the conclusion that enough is enough.
All right.
So, again, just like the little kid with the allowance and they want to keep taking from mom and dad and they want to.
Fortunately, this hasn't happened to me yet.
Thank goodness my kids are too young for this.
You can tell I'm ready though.
I'm prepared.
There's no way anybody's going to be living on my couch too long.
No, at some point, when push comes to shove, you got to give a shove.
And that's where we are right now.
That's where we are at this moment in time.
And guess what?
We have all the power and the might to do this.
This is a global shift, everyone.
This is a historic shift.
I say sometimes we're living on the front lines of history, and I'm not kidding.
I'm so excited to be here with you living this because this is a momentous time.
We have just set the stage for the next 25, 50, 75, hopefully 100 years, hopefully 250, considering we're celebrating a very special birthday this year, the 250th anniversary of the US.
But the reality is this we are winning.
We are winning.
Just take a look right here.
This is the reality of what's going on in the Strait of Hormuz, where no ship can get through to an Iranian port.
And that's a big deal.
Why is that a big deal?
Because that's where all the money comes from.
Iran's selling like, you know, anywhere from $115 to $149 million a day worth of oil to the likes of China, for example.
And so China would need to, say, access those Iranian ports.
And the Iranians would need to be able to take their oil to China out of those ports.
But if you put up a blockade and you say, nobody's getting in or out of these ports right now, well, guess what?
Nobody's getting in or out of the ports.
But we do have a lot of boats that are going through the strait.
With no problem at all right now.
Apparently, the Iranians are closer and closer to wanting to make a deal.
We have the Trump administration, meanwhile, as they look at the likes of Spain, Italy, Georgia Maloney, recent dust up with her, the UK, France, Germany.
I mean, need I go on?
The whole lot of them, right?
They don't want to actually step up.
And so the administration is saying, well, we're going to have to pull some resources away.
Maybe we'll put some of these resources, because we've got a trillion dollars to spend, into some of these countries on the eastern side that actually.
Do you want to work with us?
I mean, Poland comes to mind, right?
So, Hungary also as well.
I think that the president has been positive on Hungary.
So, there are opportunities for us to work with some of these countries, but there's an expectation in return that, yeah, you're going to work with us as well.
And so now they're looking to reallocate a lot of this money.
Again, this is what's making the Europeans so nervous right now.
Spain, clearly not nervous enough, clearly not nervous enough because we're talking about closing two bases there, Rota and Moron.
We've talked about this.
You can remember them, Rota.
I don't know how you remember that.
But moron is pretty easy to remember.
Rotes is actually kind of important because that's a naval base that we have there.
And we've been spending a ton of money upgrading these things, like to the tune of $200 million last year.
Again, money we don't really have, let's be honest.
Like, you know, we don't have money to go to, say, Ilhan Omar's feeding our future for $250 million in the likes of Minneapolis that doesn't actually make its way to the kids.
And we don't have money to throw away at bases that we can't actually use.
A similar amount of money.
Okay, we're batting down the hatches.
Enough is enough is enough because you have somebody in charge that actually is concerned about the bottom line.
That's good to have business people around, right?
But here's the really good news this is epic foreign policy.
When I talk about epic foreign policy, I'm telling you, we are in a different moment in time.
This is historic.
When you think about what has transpired over the last Gosh, I mean, six to 12 months from Venezuela to all the drilling that we've had in the US to now what's going on with Iran.
And now the president's saying, okay, NATO, you're not doing your job.
Well, maybe we need to rethink that agreement.
And NATO's saying, okay, yeah, I guess we do need to rethink that agreement.
This is a realignment, a realignment of resources, and it's going to be epic.
I mean it.
And you know what?
I'm not the only one.
Great minds think alike, right?
I've always liked Stephen Miller.
I know he gets a bad rap.
I actually think the guy is super smart, super smart.
And I agree with so much of what he says.
I get that the left kind of jumps on him because he isn't maybe as soft around the edges as they'd like.
But I appreciate that because I like people that speak directly.
And here he is saying all those people that are worried about things.
Remember how they were worried about the view ladies, what was going on in Venezuela?
How could you just pluck Maduro out of there?
I'm sorry, Maduro was a bad guy.
Okay.
And we had a massive, massive.
Bounty on his head.
Like we wanted him dead or alive, so to speak.
So he's like, enough with it.
Okay.
This is a moment in time that is actually going to be a game changer for not just us, but for the world.
Think about that.
Watch them here on Fox with Jesse Waters.
Ignore the panickens, right?
They were the ones who warned of calamity in Venezuela and ended up being one of the greatest single foreign policy, military, geopolitical maneuvers in world history.
What you're watching now in Iran with the implementation of this blockade is the total resetting of the American power dynamic for the next 100 years.
President Trump is saying, We, the United States, have the world's not just most powerful military, most powerful Navy.
And whoever controls the seas is able to control the outcomes in any foreign policy showdown.
It's like history is being made.
I mean, really, it is being made.
This is massive, guys, because it's going to change everything.
And look, we've had the capability.
We've got to, you know what, kick military.
We really haven't been able to use it.
And not that you want to use it.
Don't get me wrong.
I mean, I'm such a big believer in things like tariffs and financial incentives.
And, you know, let's make money, not war, right?
I mean, there's no reason to have to use your tanks and missiles unless you're dealing with a player like we've been dealing with there, Iran, that is willing to risk it all.
I mean, think about that.
No wonder we can't make, I mean, we've got to make sure that they can't have a nuclear weapon because when you have a, A country that is so on the edge and willing to kill, you know, an estimated nearly 40,000 of their own people, you can't allow for the kind of risk that so many were willing to allow for.
And so this is a game changer for the right reasons.
Let's go back to Stephen Miller.
It's a total discrediting of the corrupt politicians and corrupt systems that brought America to its knees.
Our wealth, our treasure, our power has been bled from us for 50 years.
We won World War II, and then we decided that we were going to get rid of the Department of War, we were going to get the Department of Defense, and we were going to have a politically correct foreign policy.
And we sent away our jobs, we sent away our wealth, we sent away our industry, and we gave other countries a chance to compete against us.
President Trump has used trade policy, energy policy, manufacturing policy, and yes, hard military power to ensure another century of American dominance.
And I can pretty much guarantee you, he didn't want to have to use the hard military power.
I know this from my conversations with him.
He does not want to have to go to that level ever.
But sometimes you've got to do what you've got to do.
And in the case of Iran, you had to do what you had to do.
In the case of Maduro down in Venezuela, I happen to know a lot about this on all sides.
All sides.
And I can assure you that Maduro was talking out of both sides of his mouth.
Or perhaps it was Maduro saying one thing and his wife saying another, because no matter how much they talked, they couldn't seem to pry Maduro away from the likes of Iran, Russia, and China.
And we just can't have those folks camping out in our backyard now, can we, two and a half hours from Florida?
No, Especially sitting on such a massive resource like the Orinoco region, which is home to more.
Proven oil reserves, granted, they're thick and heavy and tarlac, and they need our technology to be able to work that stuff, but more proven oil reserves than Saudi Arabia.
So he knew that, which is why he went in and he got rid of the bad guy.
And now, what do you know?
Things kind of working out.
Dulcie Rodriguez doing what we need her to do.
And this is kind of a model, if you would, for what could be accomplished with Iran.
The problem with Iran is it's a whole different ballgame because you get these religious nutjobs that are playing for something far, you know, bigger than just their.
Their current paycheck, so to speak.
And so, nonetheless, the current paycheck is important.
And when you cut off all economic viability, which is what has happened by strangling those ports in Iran so that no ships can get out, no ships can get in, you are costing that economy massively.
I've seen some estimates as much as $350 billion a year.
I didn't even know they had an economy that was worth $350 billion, but apparently, this is what they rely on, right?
Their entire industry is all based off of oil that they're selling to people that we really don't want them to be selling to.
The likes of China, for example, especially given some of the sanctions that we've put in place on Iran that some people, including China, tend to ignore.
So sometimes, sometimes that creates a tension in that you have oil prices that maybe move up because of these sanctions, thereby giving Iran more money.
Well, now they don't have access to any of that money again because those ports are shut down.
I can't stress enough.
How massive that is.
Here's the president saying just yesterday, you know what, Iran's going to make a deal.
They want to make a deal.
Iran is coming to its knees because we have choked off their entire existence by shutting those ports.
They got nothing.
Nothing.
Are another round of talks planned with Iran?
And if so, do you send Vice President Jaden Vance with?
Well, he's done a good job, but Steve and Jared, they've all done a very good job.
And I can tell you that we've been called by the other side.
They'd like to make a deal very badly, very badly.
There's no business.
Yeah.
They do want to make a deal.
In fact, it's not just our administration that's saying they want to make a deal, but actually the UN, United Nations, as much as you can trust them, also saying, yeah, they want to make a deal.
So they want these talks to resume.
We had one round of talks.
Those didn't go so well.
You heard JD talk about this.
They offered them a 20 year hiatus on the nuclear weapons.
They said, no, we want to just do that for five.
It's like, guys, no, no, you don't understand.
We don't trust you in five years because it's going to be the same religious nutjobs that are going to be trying to push the same exact extremism.
So we need a lot more time than that.
We need at least a generation, which is why they came up with the 20 years.
And so this is where we are right now.
You now have Iran begging for a deal because we've shut off all of their economic prospects, meaning that that actually matters.
It matters to them in the sort of final picture.
So we just need to get that 20 years or more.
I'd actually like for more.
As for China, where's China on all this?
You know.
Some people have thought this is going to create a problem with China because China needs its oil.
Yeah, China does need its oil.
But the problem isn't our problem.
The problem is Iran's problem because China's sitting there saying, hey, hey, hey, hey, you know what?
I'm your big customer.
I'm like your only customer.
You got to give me what I need and you can't even get it to me because you decided to really tick off the United States of America.
And maybe you shouldn't have done that because how are we going to do business together, guys?
The president who's getting ready for a meeting with President Xi in China.
Putting out this note, here we go, on his true social, writing, you know what?
China is very, very happy with me, he said.
China is very happy with me, and they're very happy that I'm permanently opening the Strait of Hormuz.
I am doing it for them also and the world, he writes.
This situation will never happen again.
They have agreed not to send weapons to Iran.
They've agreed not to send weapons to Iran.
See, that's really important because some on the left are saying, oh, you know, they're sending all these weapons to Iran, and so this is going to be more problematic.
They're going to create a proxy war.
Well, think about why they don't want to do that.
Just let's like, you know, throw a little logic into the equation.
China needs its oil.
Okay, let me.
China needs its oil.
China needs its oil.
And so, because China needs its oil, it doesn't really want a proxy war where we're going to tighten the screws more and more and more and more to Iran because it's not going to get its oil.
You see, we have some interests that are aligned.
And so, as such, yeah, as such, China's going to pressure Iran to say, would you fix this, you morons?
China Needs Its Oil00:06:35
We need our oil.
Hey, Ackland, thank you for the generosity.
Ackland's saying, look at Indonesia, we get the exchange with defense plan that's 80% China oil route.
Look, I mean, a lot of Asia is dependent on that oil for sure that's coming out of those Iranian ports, and that is ending.
So, again, back to the president's statement.
He said, look, I'm not just doing it for us, I'm doing it for them too.
And the world, this situation will never happen again.
They have agreed not to send weapons to Iran.
President Xi, Will give me a big fat hug when we get there in a few weeks.
Boy, I'd like to see that.
I really would.
I'd love to see that.
You know, the two of them hugging, that'd be kind of funny.
Anyway, he writes, We are working together smartly and very well.
Doesn't that beat fighting?
Yeah.
I mean, you got to understand his mentality here.
He never wants to fight, he actually just wants to make money.
He's like, Why can't everybody sort of be sensible?
I mean, China does have that going for it.
Aside from the communist stuff and, you know, the way they rule with such an iron hand, they do have the fact that they are.
Capitalists, as much as you can be a capitalist as a communist, they have a capitalist sort of underpinning to their economy and they want to make money.
Okay, so we all want to make money.
But remember, we are very good at fighting.
If we have to, far better than anyone else.
President DJT, isn't that the truth of it?
Indeed, we are very, very good at fighting, as we have seen.
As we have seen, it's being played out right now in real time.
So guess what?
We're in a pretty good spot.
We got the SP at new highs, we've got the markets doing well, we've got crude oil.
Coming down into the 90 range.
I mean, who would have thought?
The president even said, We're doing better than I thought we would have at this point in time.
Here he is again speaking with Maria Bartiromo this morning.
Well, I mean, that's what I'm saying.
I mean, the backdrop has changed.
I know it's been only a month or so, but oil prices are up 50%.
The stock market had a tough first quarter.
By the way, you're right.
Stocks are slow.
You're right, but they're not up.
I thought, I mean, honestly, I thought there'd be much, and I was willing to do that, to stop a nuclear weapon to be used against.
This country or the Middle East, anybody in the Middle East, they were going to take out the Middle East.
To stop that, it was certainly worthwhile being much higher than it is right now.
If you told me that we were going to be at only $92 a barrel, $92 a barrel, I would have been very surprised.
All right, so.
And you know what?
I'm very happy.
And it's going to come dropping down very big as soon as it's over.
And I think it can be over very soon.
So, if they're smart, it will end soon.
Overall, the impact on the economy, do you expect a hit to growth?
Do you expect a spike in inflation?
Well, look, there's a hit because, you know, we go through it for whatever it is, six weeks.
There's going to be a hit, but it's going to recover, I think, fully.
Somehow they misquoted me.
I think oil will be down to the levels it was.
You know, they said, I expect oil to be high at the midterms.
I don't expect that.
I think that we will be somewhere around where we were, maybe even lower.
This is going to, when this is over, I think the stock market is going to boom.
It's already booming.
Again, Nobody thought we could be at 50,000 during my four terms on the Dow or 7,000 on the S&P.
And we hit numbers that nobody thought possible.
It's true.
I mean, bottom line, this is good for the economy.
And this is why we've been saying, certainly over at my other company, 76 Research, I'll put that up here 76research.com.
Oopsie daisy, maybe I won't put that up there, but you know what I'm talking about.
76research.com.
We have been saying this over and over and over and over again.
You still want to be invested.
Don't get scared.
Don't be a panic, because actually, this is going to work out for the best.
Dips, those are your opportunities.
I mean, you look at the record trading revenue that they've been making, all the big banks reporting massive trading revenue.
Why?
Because it's like when the market dips, you go in, you buy, because the market, well, for the most part, has handled this, I would say, remarkably well.
They're taking it in stride.
And I think the smart money knows like ultimately this is going to pay off.
And so that's the good news.
Hey, reminder to subscribe to this show if you haven't.
It is so important.
It really, I can't stress enough, and hit the bell.
So You heard a bell go off right there, right?
Hit the bell on YouTube so that you know exactly when I am live every single day or when I have a new show coming.
We had a little mishap, technologically speaking, on yesterday's live.
And so we did that actually as just a straight podcast episode.
But if you hit the alert, you'll know exactly when I'm here.
But you heard the president there.
You heard him say, hey, you know, we're doing okay.
And he's not wrong.
Would somebody tell the Democrats, hey, it's going to be okay?
It really is.
I mean, Jeffrey is, wow, getting destroyed by.
One of my other former colleagues.
This is getting embarrassing.
I feel I know everybody in TV.
CNBC, a very good network.
And they happen to have a guy on in the morning named Joe Kernan, who is smart.
And let me just say, Hakeem Jeffries, I don't think is that smart.
And Hakeem Jeffries, I don't think really understands the economy.
And Hakeem Jeffries is so proud that he's talked to a couple of CEOs and they're telling him one thing.
And this CNBC host, Joe, is like, yeah, buddy, that's not really how it goes.
So this was great.
This was great.
I love it when these politicians, the Don't understand economics or markets get confronted with cold hard facts.
And Joe sure gave it to Hakim this morning.
Watch.
I talk to corporate leaders all the time, and they're incredibly concerned with the instability and the uncertainty that Donald Trump and Republican policies have created.
Corporate profitability and the economy and profit margins are reflected in what happens in the averages.
So, in other words, if we're facing a recession, it's unlikely.
For the stock market to be going well, we can look at the bond market as well.
So, I just wanted to show you a couple of charts.
One is the SP, one is the NASDAQ.
We're back to all time highs, basically.
And also, I just want to show you quickly the 10 year note or interest rates.
If there was a true crisis, you would normally see some type of panic or angst in the bond market.
Just in terms of Wall Street, you would not know things are going very poorly the way that you describe it.
Things are going pretty well.
Pretty well.
Pretty well.
Stock Market All Time Highs00:06:27
I'm just answering one of your chats.
This is what you call multitasking in real time.
Wade Schiltz is asking 4987, and thank you for the generosity, Wade, what my thoughts are on how the British people are doing.
We can talk about that a little bit more at the end.
I think overall, they're pretty fed up.
And you're seeing this, by the way, in Ireland as well.
People are really, really fed up with the sort of status quo and the elites trying to tell them things are going to be better.
But, you know, things are certainly not better.
And they're looking over at Trump.
Land in the US of A and saying, Well, you know, gosh, they kind of got to figure it out, right?
They're figuring it out.
And why are they figuring it out?
Because we actually have leadership that cares enough to figure it out.
And so, overall, we are at a very important sort of inflection point, and an inflection point that is going to have a big effect on the world for generations to come.
And we're going to look back on this day and say, Thank goodness, thank goodness.
And even though it's tough for, I don't think it's actually that tough for anyone.
I think it's just tough for the Democrats because they're increasingly realizing they have lost all power.
I mean, all power.
And Eric Swalwell is not helping.
Swalwell, whoa, Swalwell.
That news hitting hard and fast.
And the Democrats are just fleeing like they can't get away from this guy fast enough.
But you know, it's really amazing because they should have known, they did know, and they, for whatever reason, chose to cover it up.
Nancy Pelosi, I'm looking at you because I think you knew exactly what was going down.
And she chose to cover it up.
You know, Swalwell had to have known at some point it was all going to come out.
I mean, this is rather interesting.
He went on to a cable news show maybe about two weeks ago or so, and he was talking about Pam Bondi and Epstein and this and that.
And apparently he's good friends with Bondi, so he had some encouraging things to say about her.
But I'm telling you, it's like amazing that he said what he said because these words came back to haunt him in a massive way.
Take a listen to Mr. Eric Swalwa in his own words.
It's all going to come out.
And so we can do it now and do it in a bipartisan way, or we can do it in about nine months when we are in the majority.
And it's not just all that's going to come out on Epstein.
It's all going to come out on how they've weaponized the Department of Justice against the president's political opponents.
And so, to the FBI agents who are being asked to break the law every single day, what we want to make clear, and I know this comes from Jamie Raskin and Robert Garcia, who will have the subpoena power next Congress.
You will be protected if you come forward right now.
If you do not come forward right now and you enable more corruption on Epstein or the weaponization, you will be before Congress and it will all come out.
What evidence do you have that the FBI agents are being asked to break the law every single day?
Well, this Washington Post reporting and New York Times reporting that they are being asked to essentially collude with the Chinese government to interfere in the California governor's race.
We've heard about the efforts to pull FBI, to fire FBI agents who do not want to see them doing immigration raids or scrubbing.
You know, the Epstein files to protect Donald Trump.
They're being moved, you know, over to do that.
The investigations that they've launched into Adam Schiff, Tish James, Lisa Cook were judges.
Fair, important investigations, by the way.
You see how he's getting into crazy town now?
Really, really crazy town.
I mean, did it never occur to Eric Swalwell what he is alleged to have done?
I mean, and by the way, we don't even have to go into the allegations.
We can just suffice it to say two words Fang, fang.
A Chinese spy, for goodness sakes.
Eric, buddy.
I mean, they're throwing out these investigations.
And apparently, Pam Bondi, who was 90% loyal to Donald Trump, that's not enough.
No, it's all going to come out, Pam.
And, you know, we are open to whistleblowers who want to come forward because those are the ones who will be protected.
It's all coming out all over the place.
I mean, every day.
Another victim.
Is coming forward with more allegations.
I mean, this is bad stuff, right?
We don't need to get into the particulars because it's that bad.
But what's crazy is that this was kind of known and no one did anything about it.
You hear that bell?
That's because I need to remind you to subscribe.
I want to remind you, please subscribe to the show.
It's important.
I'll tell you who knew, though.
You know who knew what was going down with Eric Swalwa was one, Kash Patel.
Of course, he's got a file on him like this thick, right?
Because of the Fang Fang stuff.
And boy, this was interesting.
So, a little while ago, Kash Patel was there testifying before Congress, and Eric Swallow started to light into him.
And boy, I'll tell you, Cash called it.
Okay.
He totally called it.
You got to watch this exchange with me.
Boo!
Cash called it.
I will work on the audiovisual capabilities.
I'm going to borrow your terminology and call bullshit on your entire career in Congress.
I mean, my time is a disgrace.
To the American people.
Mr. Chairman, would you admonish the witness not to insult members?
But I mean, if the shoe fits.
If the shoe fits.
Oh, wow.
So let's just say I think that Cash knew a lot and still knows a lot.
And it's probably as bad as has been indicated.
Okay.
You know, we watched a little bit in yesterday's show.
I would encourage you to go look at that podcast episode.
It's on the podcast playlist.
So always go and check that podcast playlist.
Follow me on Spotify as well.
I have a Spotify podcast indeed as well.
And so you could see it there.
But we played a little bit of that woman who came forward and it was really, it was devastating to hear.
And now there were three additional women that came forward on CBS.
I think the total is at five, but you know, it's hard to keep up because, like I said, every time I turn around, there's another one.
And it's like, how did this happen?
Like, how did this go on for so darn long?
Epstein Accusations Explained00:09:59
Well, I think everyone right now is afraid that they're going to get caught up in this, that they're going to be tarnished by association.
And by the way, they should be, right?
Because you're going to sit there and look at me with a straight face and say that you had no clue?
I don't think so.
Here's the guy that was his big backer, Steve something, and a billionaire who had a big house.
And in fact, when he was doing his I am innocent thing as recently as Friday, he went to this guy's house, nice swanky pad, right?
And he's holed up inside this 20 step.
Million dollar mansion in California, and this guy finally said, You know what?
Steve Klubeck is his name.
We don't need you anymore.
I'm done.
And not only am I done with you, I'm done with the party because I'm really sick of this.
And I feel lied to.
I'm furious.
I don't know though.
Like, again, I just look at this with a careful and cautious eye because I think a lot more people knew than are letting on.
And there's a lot of theatrics going on.
He's like, Oh, I had no idea.
I had no idea.
I know you really had no idea.
Clearly, you don't vet the guy very well.
You made all that money and you don't even bother to vet the political candidate you're backing?
Hmm, watch.
We just wrapped up a one on one interview with Stephen Klubeck.
At one point, he was running for governor of California, but he dropped out to endorse Eric Swalwell, a decision he clearly regrets.
Did you suspect this at all?
No, I was blown away.
A political explosion.
Blown away.
Billionaire Stephen Klubeck, once a major donor and supporter of Eric Swalwell, now publicly turning on him with rage.
Bad.
Amid sexual assault allegations.
I am no longer a Democrat.
I'm now a Libertarian Republican because that's what a blue dog Democrat used to be.
A lot has been said about me today through anonymous allegations.
Swalwell posting this video Friday from Klubeck's Beverly Hills mansion pushing back.
These allegations of sexual assault are flat false.
But since then, the fallout has only intensified.
The Democratic frontrunner for California governor dropping out of the race, resigning from Congress, and being kicked out of Klubeck's home.
You busted the trust.
I'm disappointed and disgusted.
Get the f out of here.
Now, a political scramble with two Republicans and seven Democrats all fighting for the top two spots in June.
Yeah.
So it'll be an interesting race.
But the guy who is the leading Democrat now fully out of it.
And what's fascinating is how willing the Democrats were to toss him, meaning perhaps something more was about to break.
I mean, just think about that, right?
Why would they be so willing to let him go so, so, so fast?
It just snowballed.
And I don't think I've ever seen anybody taken out so quickly.
I mean, they took Joe out pretty quickly, but that was a long time in the making, right?
A long time coming.
This one just kind of hit you like that.
I mean, all of a sudden, he's gone.
And his bestie, Ruben Gallego, is like, don't look at me.
I had no idea either.
I mean, come on.
Like, I really think these people think, That people are buying this.
And I just, I think if he's your bestie and your friend that you're hanging out with, you might have seen a thing or two along the way.
Yeah, might have.
Ruben?
In the beginning, you said when you first heard these rumors a few weeks ago, that's when you called him.
Then you said you've heard these rumors for years.
So which one is it, Senator?
So I heard rumors of him being flirty.
And that wasn't an issue enough for you to not trust him to watch your kids or be close with him?
Because, you know, you hear this, and then when you're close to somebody and you, you know, you know his wife, you see this, you see that relationship.
You know that, like, it maybe just isn't true.
When you first heard these rumors, should you have acted when you first heard these rumors several years ago?
The rumors I heard were that he was just a flirty social guy.
That's it.
He's just a flirty guy, you know?
Who can blame him?
He's a new congressman on Capitol Hill and he just likes to flirt with all the ladies.
No, no.
There's a lot more than flirting.
And I think a lot more accusations were flying out there.
A lot more than flirting.
And by the way, like, I'm just going to say, I, I don't have any intimate knowledge of any of this and didn't know anything for sure, but call it intuition.
I don't know.
There's just something a little creepy.
I used the term, I think, piece of my mind got a kick out of this one yesterday creepola.
He was a total creepola.
You could just tell.
He'd come on my show a few times on Fox, and he just seemed to be so starved for attention.
Like he just was a me, Yeah.
I don't like the me, people.
You know that.
I've said that before, whether they're podcasters or whether they're politicians.
It's like enough already, okay?
He just wanted to be on TV.
He was so desperate for attention.
And so that to me kind of struck me as a little bit creepy.
And then, of course, we heard the Fang Fang stuff.
So, you know, case closed, except for his bestie, Ruben Gallego, who wants you to know he had no idea.
Thou doth protest too much, I think.
So, I want to make a couple of things very clear.
Number one, Eric Swell lied to all of us.
He lied to the most powerful people in this country.
And they trusted him.
They trusted him in some of the most sensitive spots in our government, whether it was in the judiciary committee, intel committee, impeaching Donald Trump.
And that clouded my judgment, my friendship with him, our family's friendship together.
Oh, okay.
So, you get that?
He's like, yeah, he's on the Intel Committee.
How could I not be friends with him?
I mean, he was trusted by all kinds of top people.
Again, I'm just, you know, a simple girl from New Hampshire who's looking at him and saying, Creepola, fang, fang, Creepola.
And yet, Mr. Ruben Gallego, the senator Gallegos, forgive me, is like, well, he's on the Intel Committee, right?
Like, you know, he's Nancy's bestie.
He must be great.
And you're willing to overlook.
Any other accusations that are flying out there?
These people have like no soul.
I really think they have no soul.
And I include Nancy Pelosi in that group.
Her trading activity alone, okay, and the enormous success of her husband, who has a lot of access, shall we just say, to a lot of inside information that he really shouldn't have access to, and then apparently trades on it.
But I digress.
Let's stick with Nancy and what she knew or didn't know about Mr. Swalwell.
She's pretending, I think I say that, pretending like she's innocent.
And clueless.
I mean, she may be clueless, just not so innocent.
Some Republicans and others are saying that Democrats turned kind of a blind eye, that they knew what he was up to or what the allegations were.
No, that is absolutely positive.
It's true that they may say that, but it is absolutely not true.
You had no idea.
None whatsoever.
None whatsoever.
I had none whatsoever.
What happens in California now?
He was, in many of the polls, the leading candidate.
Yes, he was.
That's gone.
There's an army of candidates out there.
And California has this quirky law because it's ranked primaries, right?
Well, you could end up with two Republicans on the ballot.
Well, it is.
How does that.
I agree that it is a quirky law.
I do not agree that there'll be two Republicans at the top.
You know, do you see this?
This is a New York Times story.
And in this New York Times story, they're actually saying, you know, one of the things that's coming into question now is why everybody was willing to protect, The sexual assault accusations against Eric Swallow have exposed a culture of secrecy and silence on Capitol Hill.
So why were they so secret about him?
Was it because they thought he looked good on camera and he could go on to places like Fox where, you know, most Democrats wouldn't dare to go?
He'd come on my show, for example.
Good thing I got a good creepola radar, right?
He'd come on my show and, you know, he was willing to go on and most people wouldn't.
Is that why?
Like, is that why they supported him?
I wonder.
Jason Chaffetz had a good sort of sense on this.
His instinct is that that was exactly it.
In other words, they could farm him out anywhere and he could be a hitman for the Democrat Party.
And so that was useful to them until it wasn't.
Mm hmm.
I don't think this just was a revelation in the last 10 days.
Are you kidding me?
This has been out there for years.
Eric Swalwell had a reputation of just being the useful idiot.
He would be the one that was never tethered to the truth.
And he would go out and fill a role for the Democrats and making these wild accusations.
But behind the scenes, the accusations of sexual misconduct were pretty rampant.
And I put this, I mean, everybody from Fang Fang, remember a Chinese spy, right?
There were those allegations.
I put a lot of this on Nancy Pelosi.
She elevated him and put him in a seat of immense power in being on the intelligence committee, seeing intelligence at the highest levels.
Why did she do that?
And did she ever get any information about his exploits?
I would find it shocking, shocking that she had no clue that she was that clueless, even in light of what happened with Fang Fang and others.
Exactly.
In other words, you get a guy on your intel committee who has been accused of having a relationship with an international spy, and you just ignore that.
You don't think that you might have done a little bit more research to know?
And maybe that was part of the whole method to the madness.
Maybe they were like, yeah, we can take him out whenever we need to take him out.
So now you have to ask yourself, why did they take him out now?
Did they think it was just simply unsustainable that all of these women were going to come forward?
I mean, they had, you know, just a small number in the beginning, just one in the beginning.
Ignoring Intel Committee Spy00:02:00
And now it's just snowballed.
50 staffers saying he should not be running for governor.
I mean, amazing, amazing, amazing stuff.
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Questioning Party Leadership00:03:08
So I do think that, you know, the Democrats really have a serious problem on their hands with one Eric Swalwell, and this is going to get bigger and bigger and bigger.
The story's not going away.
We're hearing from more victims.
The victims that have come forward are like, it's not enough that he's no longer going to run.
For California.
We heard from Ana Polina Luna just yesterday.
Ana Polina Luna, who was one of the first members of Congress to call him out.
And, you know, she's been pretty fair on both sides and she's been calling everybody out.
And Ana's like, you know what?
Enough is enough.
Like, we can't keep protecting these people.
Why is there this culture of protection?
This has got to stop.
And so I think you're now seeing a lot of Democrats say, okay, enough is enough.
We can't back this guy any longer.
You've got McCarthy as well, Kevin McCarthy, who said everybody knew about Swallow.
So why did it take so long?
Here, watch this.
We don't have much time left, but I want to.
The allegations against Eric Swalwell, which have not been independently confirmed by ABC, he's denied them all.
But serious sexual misconduct, allegations, and now you have an army of Democrats abandoning his campaign for governor.
He was the leading candidate, a Democratic candidate for governor, and now he's facing calls to drop out from people like Nancy Pelosi.
Listen, let me be very clear.
I tried to get rid of Swalwell six, eight years ago.
When I got the briefing, when I became leader with the FBI, Nancy Pelosi was in the room.
I turned to her and said, How can you keep her on Intel?
Intel is a select committee that only the leaders put on, that you know all the secrets that the members do not.
But I made a motion.
Is this about sexual misconduct allegations?
It was a combination with the Chinese spy and led to all that.
Every member in Congress knows not to let any young staffer get around Swallow or Matt Gaetz.
It's not a secret there.
There's a reason why you didn't want those two people around.
He was the leading candidate for governor.
He probably could have won the primary and gotten there.
But this all came forward.
And these young women deserve justice.
I agree.
Donna's history drop out.
His campaign is in a free fall right now with top staffers leaving.
And let me just say this as someone who knows at least one of the victims that have come forward, I'm very concerned.
Thank you, Donna.
Wow.
Okay.
So that was Donna Brazil on Sunday.
And then, of course, by Monday, we knew that Svalbo was out.
So not only the gubernatorial bid in California, but also his position in Congress, we just need to get him out sooner rather than later.
And by the way, what he's now facing, as more of this comes out, and as Ana Polina Luna said, and I played that for you in yesterday's show, what she said was now he is facing the reality of jail time.
So, this is so much more significant than just a few rumors.
Because if those rumors are true, the allegations are true, he is looking at jail time.
And then I think we also have to be questioning, once again, the rest of the party, including Nancy Pelosi, because why were you putting him on the Intel Committee, as Kevin McCarthy said?
Victims Coming Forward00:01:42
Like, why?
That didn't make any sense.
It's so good to have you guys here.
Please make sure that you subscribe, that you share.
We'll talk a little bit more, guys, tomorrow about what we're seeing here.
What I'm seeing on the ground, there is a frustration here in Europe.
The leaders have misled so many people throughout all of this continent, and it's tragic to see.
And the native Europeans now are saying, okay, enough is enough, which is why you're seeing increasingly this push to the right, which is once again happening because the people are raising their hand and their voices and saying, you know, we can't live like this, and you can't change and destroy our culture.
Our culture is too important to us.
So, I don't think we've seen the end of this uprising in Europe, if you would.
I think it's going to get worse and worse and worse for the political elites that think they can force feed this globalism nonsense down everyone's throat.
Donald Trump's called them out, the American people are calling them out, and the Europeans themselves are calling them out.
Thank you for being here.
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