1 00:00:22,039 --> 00:00:25,480 Speaker 1: And Hi, how are you welcome to the Big Podcast. 2 00:00:25,640 --> 00:00:30,679 It is Monday. Today's the eleventh day of August, year 3 00:00:30,719 --> 00:00:33,679 of Our Lord twenty twenty five. My name is Tom Sullivan. 4 00:00:34,359 --> 00:00:37,600 And have we got a boatload of information for you today? 5 00:00:37,640 --> 00:00:40,759 And we've got the President came out today held a 6 00:00:40,799 --> 00:00:43,119 news conference in the Briefing room at the White House 7 00:00:44,119 --> 00:00:50,079 about basically taking over Washington, DC. And he's going to 8 00:00:50,159 --> 00:00:57,359 be activating eight hundred National Guard and also taking over 9 00:00:57,439 --> 00:01:02,719 the Metropolitan Police Department in Washington, d C. So there's 10 00:01:03,039 --> 00:01:07,920 a lot of the President wants to clamp down on crime, 11 00:01:08,079 --> 00:01:10,920 and he says it's a filthy city, it's a dirty city, 12 00:01:11,000 --> 00:01:13,840 and he goes on and on about what a terrible 13 00:01:13,879 --> 00:01:16,599 city it is. And I have to I know, like 14 00:01:16,680 --> 00:01:19,000 I told you last week, I know enough about Washington, 15 00:01:19,079 --> 00:01:22,439 d C to be dangerous. I've been there a number 16 00:01:22,480 --> 00:01:28,159 of times. There are parts of DC that are very 17 00:01:28,599 --> 00:01:32,519 crime ridden, and you don't want to go into those 18 00:01:32,599 --> 00:01:37,079 parts of d C. It's called the Northeast Section and 19 00:01:37,159 --> 00:01:41,920 the Southeast Section, and those are primarily low income, high 20 00:01:42,000 --> 00:01:45,560 crime neighborhoods. And so if you're going to take the 21 00:01:45,640 --> 00:01:51,920 crime out of those neighborhoods. It's a big social economic 22 00:01:52,040 --> 00:01:56,159 effort that goes way beyond just adding some national guard 23 00:01:56,519 --> 00:02:00,480 because it's a poor neighborhood and there's a lot of crime. 24 00:02:01,040 --> 00:02:04,359 And that's true in most cities, is that you have 25 00:02:04,680 --> 00:02:08,639 in low income neighborhoods high crime. Not all, but most. 26 00:02:09,560 --> 00:02:13,080 And that's the other thing about big cities is what 27 00:02:13,159 --> 00:02:16,560 big cities have done there. And yes, most of the 28 00:02:16,560 --> 00:02:18,879 big cities out there, I'd have a hard time finding 29 00:02:18,919 --> 00:02:22,960 one that was not run by a Democrat. They don't. 30 00:02:23,800 --> 00:02:27,080 They raise taxes on the rich, and the rich move 31 00:02:27,560 --> 00:02:30,280 and their tax base leaves, and then they're stuck with 32 00:02:30,319 --> 00:02:35,759 people who need services that don't pay taxes. But back 33 00:02:35,800 --> 00:02:39,199 to the whole port part about crime, there are other 34 00:02:39,280 --> 00:02:44,360 areas of Washington, DC that are no more crime ridden 35 00:02:44,520 --> 00:02:48,199 than any place. And I'm talking about around the government 36 00:02:48,240 --> 00:02:52,240 buildings and out in Georgetown and Watergate area, all of 37 00:02:52,240 --> 00:02:57,000 that lovely city. It's very nice. So what is going 38 00:02:57,039 --> 00:03:00,439 to happen by adding these police. The other problem with 39 00:03:00,560 --> 00:03:04,560 all of this is the law. Well, the law does 40 00:03:04,680 --> 00:03:09,319 allow the president to do this. There are major restrictions 41 00:03:09,800 --> 00:03:13,639 on the federal government using any sort of police or 42 00:03:13,919 --> 00:03:18,000 Army or National Guard, posse commatatis, laws, all kinds of 43 00:03:18,000 --> 00:03:21,280 things going into any other city. But Washington, d C. 44 00:03:21,560 --> 00:03:26,000 Is federal. It's a federal area, and so the president 45 00:03:26,120 --> 00:03:29,960 does have the authority to do all of that. The 46 00:03:30,080 --> 00:03:33,560 question then becomes how long does he have that authority? 47 00:03:34,199 --> 00:03:40,960 And it basically the law was clarified in nineteen seventy 48 00:03:41,000 --> 00:03:46,520 three says the president is allowed to take control of 49 00:03:46,560 --> 00:03:51,039 the DC Police for forty eight hours if he determines 50 00:03:51,120 --> 00:03:57,639 that special conditions of an emergency nature exist. Then the 51 00:03:57,639 --> 00:04:01,080 forty eight hour period can be extended if he notifies 52 00:04:01,719 --> 00:04:08,400 relevant congressional committees, and then taking control for over thirty 53 00:04:08,479 --> 00:04:13,280 days must be passed into law by Congress. So there's 54 00:04:13,400 --> 00:04:16,720 a lot to go on this Washington, d C experiment. 55 00:04:17,040 --> 00:04:19,160 I don't think they're going to change the crime rate 56 00:04:19,600 --> 00:04:24,040 in forty eight hours, nor in thirty days, so it's 57 00:04:24,759 --> 00:04:28,120 it's a little bit of a puzzler to me. I 58 00:04:28,160 --> 00:04:32,319 also just I'm a small government guy. The more the 59 00:04:32,360 --> 00:04:37,360 federal government expands it's reached, the more tentacles it puts 60 00:04:37,399 --> 00:04:40,079 out there under the name of the federal government, the 61 00:04:40,079 --> 00:04:45,079 more I don't like it. So, yes, there are problems 62 00:04:45,079 --> 00:04:49,079 in Washington, d C. The other problem about Washington he 63 00:04:49,319 --> 00:04:51,920 c And this was at the news conference the day. 64 00:04:52,000 --> 00:04:57,120 So there's the president, there's the head of the DOJ, 65 00:04:58,560 --> 00:05:03,800 she's there, the Attorney General, dam Bondi, the head of 66 00:05:03,839 --> 00:05:08,720 the FBI, Cash Battel is there, Pete Hegseith, the head 67 00:05:08,720 --> 00:05:12,120 of the Defense Department is there. But listen to what 68 00:05:12,240 --> 00:05:15,399 cash Battel said. And I'm going, did he not get 69 00:05:15,439 --> 00:05:20,439 the memo? Here's cash Battel, FBI director, and the murder 70 00:05:20,519 --> 00:05:21,439 rates are plummeting. 71 00:05:21,720 --> 00:05:23,920 Speaker 2: We are now able to report that the murder rate 72 00:05:24,759 --> 00:05:27,680 is on track to be the lowest in US history, 73 00:05:27,680 --> 00:05:30,560 in modern recorded US history, thanks to this team behind 74 00:05:30,600 --> 00:05:32,079 me in President Trump's priorities. 75 00:05:32,480 --> 00:05:35,279 Speaker 1: So that's kind of an oopsie's because the whole idea 76 00:05:35,319 --> 00:05:38,000 what the President kept saying, Oh my gosh, the crime 77 00:05:38,120 --> 00:05:40,279 is out of control, the city's out of control. We 78 00:05:40,360 --> 00:05:41,879 got to think that we're going to run in. It's 79 00:05:41,879 --> 00:05:45,439 an emergency. We're bringing in federal troops. We're bringing in. 80 00:05:46,959 --> 00:05:49,639 And cash Battel gets up and says, actually, the crime 81 00:05:49,759 --> 00:05:53,040 rate is down to the lowest and recorded history. The 82 00:05:53,120 --> 00:05:55,639 crime rate has dropped everywhere in this country. It's not 83 00:05:55,720 --> 00:05:59,480 unique to Washington, but Washington has seen all the major 84 00:05:59,519 --> 00:06:05,639 category of crime actually be reduced. So I don't know 85 00:06:06,079 --> 00:06:09,399 what the endgame of this is, but it just seems 86 00:06:09,959 --> 00:06:15,279 too much to me. Then there's the question of the 87 00:06:15,399 --> 00:06:21,000 job of a soldier National guardsman in this case versus 88 00:06:21,079 --> 00:06:26,040 the job of a police officer, And well, I've done both. 89 00:06:26,160 --> 00:06:29,639 I was in the army and I was in law enforcement, 90 00:06:30,160 --> 00:06:32,680 and I got to tell you something, they're not the same. 91 00:06:33,240 --> 00:06:38,120 They're not even close to the same. Chief Charles Ramsey, 92 00:06:38,319 --> 00:06:45,120 former police chief in Washington, DC, at these observations. 93 00:06:44,399 --> 00:06:46,160 Speaker 3: Well, I mean, I don't know what's going to wind 94 00:06:46,240 --> 00:06:49,439 up happening in terms of who's going to be in 95 00:06:49,519 --> 00:06:52,639 charge of what. They are two totally different pictures that 96 00:06:52,720 --> 00:06:56,639 were painted today and by the President which was pretty bleak, 97 00:06:56,680 --> 00:06:59,240 pretty dark, and then of course by the mayor, And 98 00:06:59,360 --> 00:07:02,399 personally my experience with Washington, d C. And what I 99 00:07:02,439 --> 00:07:05,319 know about it, I think the mayor's version is closer 100 00:07:06,199 --> 00:07:08,879 to the truth. Now they're going to have to work 101 00:07:08,920 --> 00:07:11,879 out some details, and I'm sure they will. She mentioned 102 00:07:11,879 --> 00:07:14,199 that she's going to sit down with the Attorney General 103 00:07:15,000 --> 00:07:17,240 to kind of hammer out a few details, but as 104 00:07:17,240 --> 00:07:19,519 far as the Mayor's concern, what I took from that 105 00:07:20,399 --> 00:07:24,399 is that the Chief of Police, Pamsmith, will remain the 106 00:07:24,480 --> 00:07:28,959 chief of police. Now that doesn't mean that higher ups 107 00:07:28,959 --> 00:07:34,199 in the dj and certainly this interim quote unquote commissioner 108 00:07:34,240 --> 00:07:37,480 that was referred to earlier will have a role. 109 00:07:38,639 --> 00:07:41,720 Speaker 4: So there's there's a lack of clarity on just how 110 00:07:41,759 --> 00:07:45,480 this is going to shape up. You know, one thing 111 00:07:45,519 --> 00:07:49,120 I can say, you know, working in the mayor mentioned it. 112 00:07:49,160 --> 00:07:53,160 Working in the National Capital Region, we worked with federal 113 00:07:53,160 --> 00:07:57,879 agencies on a daily basis, surrounding jurisdictions on a daily basis. 114 00:07:57,920 --> 00:08:01,199 And I'm sure that d c's not saying they don't 115 00:08:01,319 --> 00:08:04,800 need help. Everyone could use some help, but that help 116 00:08:04,920 --> 00:08:07,759 needs to be coordinated. Everyone needs to be on the 117 00:08:07,800 --> 00:08:09,639 same page because you have a lot of issues here. 118 00:08:09,680 --> 00:08:12,399 You have training issues. I mean, federal officers are trained 119 00:08:12,439 --> 00:08:18,000 on federal law, on that DC, municipal government law, even 120 00:08:18,040 --> 00:08:22,399 patrol techniques and so forth. Officers where body one cameras 121 00:08:22,439 --> 00:08:26,079 and MPD will be fit where body warre cameras I 122 00:08:26,199 --> 00:08:26,920 kind of doubt it. 123 00:08:27,519 --> 00:08:29,160 Speaker 3: I mean, there has to be some things that have 124 00:08:29,240 --> 00:08:32,440 to be made very clear and get straight and again, 125 00:08:33,159 --> 00:08:35,440 you need to They can't just deploy where they want 126 00:08:35,440 --> 00:08:38,159 to deploy. The Department has to be in a position 127 00:08:38,200 --> 00:08:40,639 to be able to tell them, you know, we're here 128 00:08:40,639 --> 00:08:43,159 are hotspots, here's where we need you, Here's what we 129 00:08:43,279 --> 00:08:47,279 need you to do here. Uh And if that doesn't happen, 130 00:08:47,320 --> 00:08:49,080 then you're going to have a chaotic situation. 131 00:08:49,799 --> 00:08:51,519 Speaker 1: So there is a lot to do and a lot 132 00:08:51,519 --> 00:08:56,799 of coordination to work out between the military, the National Guard, 133 00:08:57,519 --> 00:09:00,840 the FBI, other federal law enforce, horseman in the DC 134 00:09:01,120 --> 00:09:05,399 Metro Police. I don't know how they're that's going to 135 00:09:05,480 --> 00:09:08,360 take some time, and the president only has forty eight 136 00:09:08,399 --> 00:09:12,600 hours and eventually up to thirty days. That's it. I 137 00:09:12,639 --> 00:09:14,879 don't know if Congress will say, yeah, you can go 138 00:09:14,919 --> 00:09:18,200 ahead and continue to do that or not. But this 139 00:09:18,279 --> 00:09:20,679 is a very short time frame. Again, I don't think 140 00:09:20,720 --> 00:09:24,000 they're going to change anything regarding crime in Washington, DC 141 00:09:24,440 --> 00:09:27,279 in thirty days. Now, Can the Feds do a lot 142 00:09:27,279 --> 00:09:29,919 of not out driving around patrol cars, but a lot 143 00:09:29,919 --> 00:09:33,679 of intelligence and that sort of thing that would help 144 00:09:33,720 --> 00:09:38,639 out the DC police. That's probably where their best efforts 145 00:09:38,639 --> 00:09:42,639 will be played. Then the question comes up, if there 146 00:09:42,799 --> 00:09:46,679 is an armed confrontation and there are bullets flying. If 147 00:09:46,720 --> 00:09:53,480 a US Army National Guard soldier shoots a civilian, now 148 00:09:53,480 --> 00:09:55,799 you've got real problems. 149 00:09:56,120 --> 00:09:58,639 Speaker 3: I would hope nothing like that happens. Of course, the 150 00:09:58,639 --> 00:10:01,679 potential for something like that would be there, but I 151 00:10:01,679 --> 00:10:04,080 would hope that that is not going to be the 152 00:10:04,080 --> 00:10:07,559 case at all. They should serve in a backup role. 153 00:10:07,679 --> 00:10:11,039 In my opinion, there is a need for some help, 154 00:10:11,080 --> 00:10:13,840 some assistance. I mean, crime is down in the district, 155 00:10:13,840 --> 00:10:15,919 but you never get it really low enough because you're 156 00:10:15,960 --> 00:10:20,000 not just dealing with numbers and with the reality of crime. 157 00:10:20,080 --> 00:10:23,080 From that perspective, you know, people don't feel safe, and 158 00:10:23,120 --> 00:10:25,600 if people don't feel safe, then they aren't safe, and 159 00:10:25,679 --> 00:10:27,519 so you have to deal with that as well. So 160 00:10:27,639 --> 00:10:30,919 that added presence I think will give people a sense 161 00:10:30,960 --> 00:10:33,799 of safety insecurity, but it has to be very well 162 00:10:33,919 --> 00:10:37,879 coordinated with clear roles and responsibilities. And if they're going 163 00:10:37,960 --> 00:10:42,200 to arm soldiers, they had to understand they're not in Iraq, 164 00:10:42,320 --> 00:10:45,399 they're not in Afghanistan. The rules of engagement are a 165 00:10:45,440 --> 00:10:48,320 lot different, and they need to have the proper training 166 00:10:49,080 --> 00:10:51,799 on use of force and all those kinds of things. 167 00:10:52,279 --> 00:10:56,080 Should they be armed. Hopefully they do not become armed. 168 00:10:56,960 --> 00:10:59,840 Speaker 1: Yeah, the whole idea about national Guard coming in to 169 00:11:00,080 --> 00:11:03,200 help the police is usually because of an emergency or 170 00:11:03,360 --> 00:11:07,600 riot things like that. But so we'll watch to see 171 00:11:07,600 --> 00:11:12,480 how this turns out. Let's talk about China for a moment, 172 00:11:13,159 --> 00:11:16,320 because I want to give you just I'll just as 173 00:11:16,360 --> 00:11:21,360 a reminder. And Vidia, which is the darling of the 174 00:11:21,399 --> 00:11:26,799 tech world right now, they make a super duper chip 175 00:11:27,480 --> 00:11:31,320 that is being used by the people in the AI 176 00:11:31,440 --> 00:11:35,399 race to get ahead of everybody else by using and 177 00:11:35,600 --> 00:11:40,480 Vidia's chips. So and Vidia comes up with this new 178 00:11:40,559 --> 00:11:44,559 super duper chip and the government says to them, don't 179 00:11:44,600 --> 00:11:48,000 you sell that to China. We are not going to 180 00:11:48,039 --> 00:11:50,559 allow you to sell it to China because China will 181 00:11:50,600 --> 00:11:55,360 have use it to their advantage. And so that was 182 00:11:55,840 --> 00:11:58,120 where it started off, was that the chips were banned 183 00:11:58,159 --> 00:12:04,240 from being sold to China. Then and Vidia gets the okay, 184 00:12:04,320 --> 00:12:06,440 what was it a week, ten days ago something like 185 00:12:06,480 --> 00:12:09,320 that from the US to yeah, go ahead, yeah, you 186 00:12:09,320 --> 00:12:13,960 can go ahead and sell those to China. And everybody 187 00:12:14,039 --> 00:12:19,200 raised their eyebrows. What happened to the big national security thing? Well, 188 00:12:19,240 --> 00:12:25,000 now it's all turned around and China is now worried 189 00:12:25,279 --> 00:12:29,120 about the fact that the Nvidia chips could have a 190 00:12:29,240 --> 00:12:33,480 back door to them where the US could spy on China. 191 00:12:34,360 --> 00:12:37,679 We were worried about them spying on us with TikTok 192 00:12:37,720 --> 00:12:41,120 and and Huawei phones and things like that, and now 193 00:12:41,360 --> 00:12:44,080 they apparently are very worried about Hey, what do you 194 00:12:44,159 --> 00:12:48,159 mean they can sell the Nvidia chips to China? Are 195 00:12:48,159 --> 00:12:52,919 they trying to spy on us? So Eunice Yun with 196 00:12:53,000 --> 00:12:57,279 CNBC and Beijing has has kind of the report on that. 197 00:12:57,600 --> 00:12:59,960 Speaker 5: Oh well, it looks as though the relationship between China 198 00:13:00,039 --> 00:13:04,440 and Nvidia's Age twenty chip is very complicated. The messaging 199 00:13:04,440 --> 00:13:07,279 out of China recently has been that the Age twenty, 200 00:13:07,360 --> 00:13:09,840 which is a chip that the Chinese want to have, 201 00:13:10,679 --> 00:13:13,720 could be bad for the country. So, in several posts 202 00:13:14,000 --> 00:13:16,960 by a social media account that's linked to Chinese state TV, 203 00:13:17,559 --> 00:13:22,840 the Chinese we're suggesting that the Chinese don't actually have 204 00:13:22,919 --> 00:13:26,240 to buy this particular chip. Yuyuan Tantan called the Age 205 00:13:26,279 --> 00:13:29,480 twenty far from safe for China. It says that Nvidia 206 00:13:29,559 --> 00:13:32,919 needs to substantiate its claims that it has no so 207 00:13:33,000 --> 00:13:36,519 called back doors in those chips. It alleges that installing 208 00:13:36,639 --> 00:13:40,320 back doors as a condition by the US government to 209 00:13:40,440 --> 00:13:44,679 easing its export curves and allowing Nvidia to sell into China, 210 00:13:44,840 --> 00:13:48,399 and Nvidia issued a statement saying in Nvidia does not 211 00:13:48,600 --> 00:13:51,360 have back doors in our chips that would give anyone 212 00:13:51,399 --> 00:13:54,759 a remote way to access or control them. Now, the 213 00:13:54,840 --> 00:13:58,399 Chinese tech companies here count as some of the biggest 214 00:13:58,840 --> 00:14:02,960 clients for in video. The H twenty is the industry 215 00:14:03,360 --> 00:14:07,720 standard here in China. It's not the best for training, 216 00:14:07,799 --> 00:14:10,120 so in that way, President Trump is right that this 217 00:14:10,200 --> 00:14:14,120 is one that doesn't have as much processing power, but 218 00:14:14,159 --> 00:14:17,519 at the same time, it is really good at inferencing. 219 00:14:17,799 --> 00:14:20,919 So this means that the chip is able to recall information. 220 00:14:21,080 --> 00:14:25,440 And it just so happens that the Chinese industry depends 221 00:14:25,559 --> 00:14:28,960 very heavily on inference, especially when it comes to deep Seak. 222 00:14:29,039 --> 00:14:33,279 Those orders for a twenties rows very quickly, along with 223 00:14:33,320 --> 00:14:38,440 the boom of deep Seek's AI models. Twenty is very suitable, 224 00:14:38,720 --> 00:14:44,080 people say for this particular industry. Now, one other thing 225 00:14:44,159 --> 00:14:48,440 that people have been discussing is what is the motivation 226 00:14:48,639 --> 00:14:51,720 really of the Chinese when it's sending off these messages. 227 00:14:51,799 --> 00:14:55,360 And I spoke to Jimmy Goodrich, who's an advisor to 228 00:14:55,759 --> 00:15:00,639 Rand and he had told me that the the Chinese 229 00:15:00,679 --> 00:15:03,000 are really walking a very fine line because on the 230 00:15:03,000 --> 00:15:05,320 one hand, they want to make sure that they get 231 00:15:05,320 --> 00:15:08,480 these chips in which are important for say the Ali 232 00:15:08,519 --> 00:15:12,320 Baba's and the deep Seeks as well as ByteDance, but 233 00:15:12,360 --> 00:15:14,000 then at the same time they want to send some 234 00:15:14,080 --> 00:15:16,200 messages like hold on, we don't want to be too 235 00:15:16,279 --> 00:15:20,080 dependent on this particular chip, and to an outsider in 236 00:15:20,200 --> 00:15:22,600 Nvidia at that Okay, this. 237 00:15:22,519 --> 00:15:25,480 Speaker 1: Is getting crazy because now the Chinese are worried that 238 00:15:25,519 --> 00:15:28,360 we're going to spy on them, which is what we've 239 00:15:28,399 --> 00:15:31,679 been worried about them spying on us with technology. And 240 00:15:31,720 --> 00:15:35,759 the other thing that Unis just said was that they're 241 00:15:35,840 --> 00:15:40,840 worried about being too dependent upon a foreign source, namely 242 00:15:41,559 --> 00:15:45,440 the chips from America. So it's the same exact argument 243 00:15:45,480 --> 00:15:46,360 here's Unus. 244 00:15:47,320 --> 00:15:50,240 Speaker 5: I think it's an issue that is on the table. 245 00:15:50,279 --> 00:15:52,200 At least that's what the messaging has been, and we 246 00:15:52,279 --> 00:15:55,080 know that the Chinese have wanted to get their hands 247 00:15:55,240 --> 00:15:57,440 on it more advanced chips. I think what was interesting 248 00:15:57,519 --> 00:16:00,559 is that we saw the FT actually reporting that the 249 00:16:00,639 --> 00:16:04,399 Chinese were looking to get the HBM or high Bandwidth 250 00:16:04,879 --> 00:16:07,840 memory chips on the table that they were hoping to 251 00:16:07,879 --> 00:16:11,919 be able to get that in the discussion. And when 252 00:16:11,960 --> 00:16:15,519 I was talking with Jimmy Goodrich, he had told me 253 00:16:15,519 --> 00:16:19,080 that the H twenty chip actually has these hbms in them, 254 00:16:19,159 --> 00:16:23,240 and they're really important because these HBM chips would help 255 00:16:23,759 --> 00:16:27,480 the Chinese be able to create their own AI chips 256 00:16:27,799 --> 00:16:30,679 because they're so supportive and important for companies like Huawei. 257 00:16:30,720 --> 00:16:34,279 So in that way, this could be part of the discussion. 258 00:16:35,000 --> 00:16:40,519 Speaker 1: One guy that's not worried about them using Nvidia chips 259 00:16:40,559 --> 00:16:45,840 to make Huawei make AI chips is Kevin O'Leary, mister wonderful. 260 00:16:45,919 --> 00:16:49,639 He thinks it gives us an advantage. Here's his argument. 261 00:16:50,039 --> 00:16:51,799 Speaker 6: Well, first of all, there's two issues here that you 262 00:16:51,879 --> 00:16:55,039 brought up that are very important. Number one is should 263 00:16:55,120 --> 00:16:58,120 we ship any chips that give China an advantage in 264 00:16:58,200 --> 00:17:00,600 the AI race or the AI war or whatever you 265 00:17:00,600 --> 00:17:03,200 want to call it, Yes or no to that. Then secondly, 266 00:17:03,759 --> 00:17:07,319 this industrial policy of taxing a specific company to have 267 00:17:07,400 --> 00:17:10,799 the right granted by the government to ship product to 268 00:17:10,839 --> 00:17:14,799 a specific country, that, for lack of better words, is 269 00:17:14,799 --> 00:17:17,960 a little funky chicken. But at the same time, it's 270 00:17:18,000 --> 00:17:20,160 a form of tariffs. So let's coract to issue Number one, 271 00:17:20,200 --> 00:17:23,720 should we ship chips to China or any adversary? And 272 00:17:23,720 --> 00:17:26,759 the answer to that is yes, because we want all 273 00:17:26,839 --> 00:17:31,480 of these countries using American technology and developing on the 274 00:17:31,559 --> 00:17:35,720 American tech stack. We do not want to give Huawei 275 00:17:35,759 --> 00:17:38,559 a chance to catch up to what's going on on 276 00:17:38,640 --> 00:17:41,799 the firmware and software development that is crucial. 277 00:17:42,119 --> 00:17:43,039 Speaker 3: That means you ship it. 278 00:17:43,079 --> 00:17:46,680 Speaker 6: Even in North Korea. Everybody gets it because that keeps 279 00:17:46,720 --> 00:17:50,079 them under control of the American tech stack. We can 280 00:17:50,119 --> 00:17:54,640 deliver them two generations back, three generations back, one generation back, 281 00:17:54,680 --> 00:17:57,640 doesn't matter, but they have to spend all of their 282 00:17:57,720 --> 00:18:01,839 energy developing on the technology and the software developed in 283 00:18:01,880 --> 00:18:05,240 the US that keeps the US in control. Number two, 284 00:18:05,759 --> 00:18:11,039 the fifteen percent tariff, Well, I call that very creative, 285 00:18:11,160 --> 00:18:13,599 a form of blackmail if you wish, but it's no 286 00:18:13,680 --> 00:18:16,599 different than a tariff, and the companies are going to 287 00:18:16,640 --> 00:18:20,000 pay it. And if you're a shareholder of MD or Navidia, 288 00:18:20,319 --> 00:18:23,279 you like it because it's still incremental cash flow. Even 289 00:18:23,319 --> 00:18:25,680 though it's eating into the margin of those chips shipped, 290 00:18:26,000 --> 00:18:29,480 it's still incremental and the market has already decided both 291 00:18:29,519 --> 00:18:33,599 stocks are up. Tomato tomato doesn't matter. It's a tax, 292 00:18:33,960 --> 00:18:37,480 and I would hope that the administration would take this, 293 00:18:37,920 --> 00:18:41,759 all of these tariffs and taxes and shakedowns, I don't 294 00:18:41,799 --> 00:18:45,200 care what you call it, and reduce the deficit with it. 295 00:18:45,559 --> 00:18:48,079 That's what the market is hoping for, because if it's 296 00:18:48,119 --> 00:18:50,240 really true that we added on three trillion with a 297 00:18:50,279 --> 00:18:53,480 big bill, how are we going to reduce that and 298 00:18:53,519 --> 00:18:56,480 get back to balance budgets. I would hope the next 299 00:18:56,480 --> 00:18:58,680 phase of all this, and I'm not the only person 300 00:18:58,720 --> 00:19:02,799 hoping this is us a reduction because we're getting to 301 00:19:02,880 --> 00:19:06,759 the limit of how much we can burden the long bond. 302 00:19:06,799 --> 00:19:09,359 In other words, as long as the world has confidence 303 00:19:10,039 --> 00:19:13,279 that America is the number one place to invest, it's 304 00:19:13,319 --> 00:19:15,440 going to continue to allow us to have capital a 305 00:19:15,519 --> 00:19:18,319 low cost right now under five percent on the long board. 306 00:19:18,640 --> 00:19:21,160 The minute they think we're completely out of control, and 307 00:19:21,240 --> 00:19:23,519 I don't know when the tipping point is, nobody does, 308 00:19:24,680 --> 00:19:27,920 then we're in trouble and we're spending a ton of 309 00:19:27,960 --> 00:19:30,640 money that we don't need to by Many people feel 310 00:19:30,680 --> 00:19:33,559 because we've overstimulated right through the pandemic five years ago, 311 00:19:34,000 --> 00:19:37,480 it's time to sober up. And start paying down the debt. 312 00:19:37,519 --> 00:19:40,319 So this idea of money for nothing and chicks for free, 313 00:19:40,400 --> 00:19:43,160 start sending checks out to everybody. I hate that idea. 314 00:19:43,279 --> 00:19:46,440 Many people hate that idea. I want to see the 315 00:19:46,480 --> 00:19:51,079 confidence of America maintained in terms of being an investment location. 316 00:19:51,599 --> 00:19:54,519 That's what I care about, investor. I want the world 317 00:19:54,559 --> 00:19:56,920 to continue to send fifty two cents of every dollar 318 00:19:56,960 --> 00:19:59,720 to America because that's the number one place to invest. 319 00:20:00,000 --> 00:20:02,039 It won't be if all of a sudden we get 320 00:20:02,079 --> 00:20:05,920 into hyperinflation or the long bond goes crazy because they 321 00:20:05,960 --> 00:20:08,920 think we're drunken sailor spending money. I'm not the only 322 00:20:08,960 --> 00:20:10,079 person bringing that up. 323 00:20:10,359 --> 00:20:11,559 Speaker 3: That's what should apping. 324 00:20:11,640 --> 00:20:13,039 Speaker 6: No free checks to anybody. 325 00:20:13,039 --> 00:20:15,559 Speaker 3: That's my view, all. 326 00:20:15,519 --> 00:20:17,640 Speaker 1: Right, So no free checks to anybody. I'm with him 327 00:20:17,799 --> 00:20:21,079 on that. And yeah, you heard him say this is 328 00:20:21,160 --> 00:20:25,440 something total. Donald Trump is gone crazy with tariffs. So 329 00:20:25,880 --> 00:20:30,440 that's we charge companies for buying from foreign sources. This 330 00:20:30,599 --> 00:20:37,400 is a fifteen percent tariff or tax on Nvidia in 331 00:20:37,640 --> 00:20:41,359 order for them to sell their chips to China. So 332 00:20:41,519 --> 00:20:44,759 after all these things about we're worried about them spying 333 00:20:44,799 --> 00:20:48,720 on us, they're worried about us spying on them. They 334 00:20:48,720 --> 00:20:51,279 don't want to be reliant upon a foreign source for 335 00:20:51,319 --> 00:20:54,359 their chips, and then throw on that. Donald Trump comes 336 00:20:54,359 --> 00:20:57,839 along and says, yeah, that's a fifteen percent export tax. 337 00:20:59,039 --> 00:21:03,200 So that's he's just getting money on anything coming or 338 00:21:03,240 --> 00:21:05,920 going from the ports. It's a whole new part of 339 00:21:05,920 --> 00:21:10,599 the tariff story. Meantime, this is going to be a 340 00:21:10,640 --> 00:21:14,200 busy week. Tomorrow, we get the consumer Price Index, the 341 00:21:14,279 --> 00:21:19,599 inflation numbers out. Wall Street's bracing for an increase of 342 00:21:19,640 --> 00:21:23,680 over three percent. We'll have to wait until late thirty 343 00:21:23,720 --> 00:21:25,359 in the morning to find out about that. Oh, by 344 00:21:25,440 --> 00:21:31,880 the way, guess who compiles those inflation numbers. Yes, the 345 00:21:31,920 --> 00:21:36,480 Bureau of Labor Statistics, the same group that came up 346 00:21:36,519 --> 00:21:39,960 with the huge revisions on unemployment. So we'll get those 347 00:21:40,000 --> 00:21:42,279 numbers tomorrow and we'll see whether you believe them or 348 00:21:42,319 --> 00:21:45,680 not whatever they turn out to be. We've also got 349 00:21:45,680 --> 00:21:50,119 the big meeting coming up on Friday in Alaska, and 350 00:21:50,160 --> 00:21:53,319 they're still scrambling to put all the details together, and 351 00:21:53,440 --> 00:21:55,200 it looks like it's just going to be a meeting 352 00:21:55,240 --> 00:21:59,880 between Donald Trump and Vladimir Putin. Zelinsky's been left out 353 00:21:59,880 --> 00:22:08,680 of this whole thing, so we'll see Putin has handled 354 00:22:08,720 --> 00:22:13,680 a lot of US presidents to his success. Let's hear 355 00:22:13,759 --> 00:22:16,160 from General Jack Keane about what he thinks is going 356 00:22:16,240 --> 00:22:17,240 to happen on Friday. 357 00:22:18,559 --> 00:22:23,039 Speaker 7: Well, we don't really know. Certainly is some initial confusion 358 00:22:23,079 --> 00:22:26,960 over what really was the Putin offer, And after a 359 00:22:26,960 --> 00:22:28,839 couple of days of soaring through that, I think we 360 00:22:28,960 --> 00:22:31,920 got a clear understanding of it. Now he's willing to 361 00:22:31,960 --> 00:22:34,200 go to a cease fire, but Ukraine would have to 362 00:22:34,200 --> 00:22:37,799 give up the remaining parts of the danask Oblast as 363 00:22:37,839 --> 00:22:41,799 you had circled, and the remaining part of Luan's which 364 00:22:41,880 --> 00:22:44,759 is just only two percent. But when you take a 365 00:22:44,799 --> 00:22:49,079 look at the danask Oblast inside there in the part 366 00:22:49,079 --> 00:22:52,920 that Putin wants is the so called fortified belt, five 367 00:22:53,640 --> 00:22:57,119 Ukrainian cities, all fortified along a fifty mile round on 368 00:22:57,200 --> 00:23:00,680 Highway twenty that he has been unable to going all 369 00:23:00,720 --> 00:23:03,480 the way back to twenty fourteen and for the last 370 00:23:03,519 --> 00:23:06,839 two years. Why does he want that? Because if he's 371 00:23:06,880 --> 00:23:09,799 able to take that territory to the north of that 372 00:23:10,119 --> 00:23:14,599 is open, non defensible terrain that leads right to Kharkiv, 373 00:23:14,680 --> 00:23:18,440 the second largest city in Ukraine. So if Putin could 374 00:23:18,480 --> 00:23:22,680 get this conciliatory not having a fight for it, go 375 00:23:22,759 --> 00:23:25,839 to a ceasefire. You know, he's going to violate a ceasefire. 376 00:23:25,920 --> 00:23:28,519 He has always violated them in the past, and he 377 00:23:28,559 --> 00:23:31,559 would be in a much better position to really grab 378 00:23:31,640 --> 00:23:35,680 off some territory inside of Ukraine. So that's at the issue. 379 00:23:35,759 --> 00:23:38,599 And we listen. I discovered last week. I didn't know it, 380 00:23:39,079 --> 00:23:43,359 but in the Ukrainian constitution President Zelenski cannot give up 381 00:23:43,440 --> 00:23:47,799 land without the Rada his legislature approven it bill, and 382 00:23:47,839 --> 00:23:50,440 then he has to get a national referendum from the 383 00:23:50,480 --> 00:23:55,599 people to go ahead. Our constitution also restricts the president 384 00:23:55,640 --> 00:23:59,079 from doing that without congressional approval. So it's not surprising 385 00:23:59,119 --> 00:24:01,759 it's in there. Many of us just didn't know one 386 00:24:01,799 --> 00:24:04,799 other thing. First, I mean, a key meeting took place 387 00:24:05,319 --> 00:24:08,720 in the UK on Saturday. The Vice President was there, 388 00:24:08,680 --> 00:24:12,079 a foreign minister from the UK, other European nations representing 389 00:24:12,119 --> 00:24:15,759 the Ukraine's much of our national security team, not all President, 390 00:24:15,839 --> 00:24:19,839 but on the phone at least Rubio, Kellogg, Whitkoff, etc. 391 00:24:20,960 --> 00:24:24,400 And they came up with a counter proposal proposed by 392 00:24:24,400 --> 00:24:27,839 the Europeans and the Ukraines to Putin's offer, and that 393 00:24:28,039 --> 00:24:32,000 is that the discussions in Alaska should initially be just 394 00:24:32,119 --> 00:24:36,680 about a ceasefire and not any territory whatsoever. And if 395 00:24:36,680 --> 00:24:40,720 we can get a ceasefire, then move to discussions towards 396 00:24:40,960 --> 00:24:43,119 end of war. How do we do that? What's the 397 00:24:43,160 --> 00:24:46,519 framework for that? One of the security guarantees for Ukraine, 398 00:24:46,640 --> 00:24:50,680 the United States delegation was favorable to that. President Trump 399 00:24:50,680 --> 00:24:53,720 has been briefed on it by our US delegation, by 400 00:24:53,720 --> 00:24:56,759 the President of Finland. The Europeans are going to talk 401 00:24:56,799 --> 00:25:00,599 to the President on Wednesday about this as well. Strategy 402 00:25:00,720 --> 00:25:03,519 is a work in progress as to the summit itself. 403 00:25:04,240 --> 00:25:07,519 Where is Putin coming from here? One? I think he 404 00:25:07,519 --> 00:25:10,799 gets a lot out of this in terms of legitimacy 405 00:25:10,839 --> 00:25:13,279 and meeting with the President, regardless of where that meeting 406 00:25:13,319 --> 00:25:15,319 takes place. He gets a lot out of that because 407 00:25:15,359 --> 00:25:19,440 he's an international pariah. He's been committing war crimes and 408 00:25:19,480 --> 00:25:23,799 he's been internationally isolated as a result of it. But 409 00:25:23,839 --> 00:25:27,000 what he's really after here, I think is that he, 410 00:25:27,200 --> 00:25:30,759 under the cover of negotiations, he wants to delay these sanctions. 411 00:25:30,799 --> 00:25:34,680 I believe the President has got his attention that sanctions 412 00:25:34,680 --> 00:25:37,519 and tariffs are coming his economy is already in trouble 413 00:25:38,000 --> 00:25:42,279 and will be severely harmed with these tariffs and sanctions 414 00:25:42,319 --> 00:25:45,599 in addition to military arms going to Ukraine. And what 415 00:25:45,759 --> 00:25:49,039 is Putin good at. We've seen it for six months 416 00:25:49,640 --> 00:25:53,640 under the guys and cover of negotiations, delayed, delayed, delay, 417 00:25:53,720 --> 00:25:56,759 and stall. President is on to this, and I don't 418 00:25:56,759 --> 00:25:58,440 think he's going to put up with It's what Putin 419 00:25:58,559 --> 00:26:03,000 is pulling on him. He's going to walk walk away 420 00:26:03,039 --> 00:26:06,000 from the summit unless there's something really on the table 421 00:26:06,039 --> 00:26:07,480 about going to a ceasefire. 422 00:26:07,759 --> 00:26:09,799 Speaker 1: So that may be the outcome of this. Is very 423 00:26:09,880 --> 00:26:13,720 much like Ronald Reagan did in RAYKEBC when he walked 424 00:26:13,720 --> 00:26:16,559 away from the table when he was meeting with the 425 00:26:16,599 --> 00:26:20,799 president of the Soviet Union. So we may see that 426 00:26:21,160 --> 00:26:23,319 turn out to be what this is all about. Nothing. 427 00:26:23,359 --> 00:26:27,640 It could be like the general said, where Putin has 428 00:26:27,680 --> 00:26:31,319 done it over and over and over again, of just stall, salstall, 429 00:26:31,440 --> 00:26:33,920 so he can continue to keep fighting. We'll find out 430 00:26:33,960 --> 00:26:38,480 on Friday exactly what Putin's going to do. So an 431 00:26:38,559 --> 00:26:43,920 update for you on all things. Epstein, the judge in 432 00:26:43,960 --> 00:26:45,519 the case where they went and said, we'd like you 433 00:26:45,559 --> 00:26:49,279 to release the transcripts from the grand jury judge said no, 434 00:26:50,240 --> 00:26:55,359 this is in Julane Maxwell case, and he said, absolutely not. Jury's. 435 00:26:56,000 --> 00:26:59,799 Grand jury's are sacra sanct you can't those are secret. 436 00:27:00,200 --> 00:27:02,160 We're not going to release them. And by the way, 437 00:27:02,160 --> 00:27:04,759 there was the second judge that ruled not to release 438 00:27:05,119 --> 00:27:10,480 the grand jury transcript regarding Julane Maxwell. Judge in this 439 00:27:10,559 --> 00:27:14,000 case said, would not reveal any new information of any consequence. 440 00:27:14,839 --> 00:27:19,480 There's next to nothing new and there's no there there. 441 00:27:20,319 --> 00:27:23,839 So Harry Enton, the guy who does all the statistician 442 00:27:23,920 --> 00:27:27,960 stuff over at CNN, this is his take on the 443 00:27:28,000 --> 00:27:30,200 fact that Epstein looks like it's fade in a way. 444 00:27:30,640 --> 00:27:32,640 Speaker 8: Yeah, I would say that this is from at least 445 00:27:32,640 --> 00:27:35,799 a political point of view, quickly turning into a dud 446 00:27:35,920 --> 00:27:36,440 of a story. 447 00:27:36,440 --> 00:27:39,480 Speaker 3: What am I talking about it? Which is wild exactly. 448 00:27:39,559 --> 00:27:42,559 Speaker 8: Take a look here Google searches for Epstein down eighty 449 00:27:42,720 --> 00:27:46,920 nine percent versus just three weeks ago, falling through the floor. 450 00:27:47,000 --> 00:27:50,519 It is no longer the top term searched, alongside Donald 451 00:27:50,559 --> 00:27:53,680 Trump's nay. That's been trading off between Taros and Vladimir Putin, 452 00:27:53,720 --> 00:27:55,839 with obviously the meeting coming up later this week, but 453 00:27:55,880 --> 00:27:58,799 at this particular point, the American people's interest in this story. 454 00:27:59,279 --> 00:28:02,200 It's quickly because coming something of a nothing burger. Take 455 00:28:02,240 --> 00:28:04,319 a look here, let's take a look at the overall numbers. 456 00:28:04,359 --> 00:28:06,960 Trump's approval rating in July of twenty twenty five, it 457 00:28:07,039 --> 00:28:10,119 was forty five percent. It's still well within that Marginovara 458 00:28:10,160 --> 00:28:12,440 here at forty four percent, and you compare that to 459 00:28:12,480 --> 00:28:14,240 where he was in his first term at this point 460 00:28:14,279 --> 00:28:17,240 he was at thirty seven percent. So he's seven points higher, 461 00:28:17,359 --> 00:28:20,839 very much in a different political universe. Now significantly higher 462 00:28:20,839 --> 00:28:23,039 in terms of his overall approval rating than he was 463 00:28:23,039 --> 00:28:25,480 at this point in his first term, and more than that, 464 00:28:25,599 --> 00:28:28,599 among Republicans, his approval rating is near a record high, 465 00:28:28,880 --> 00:28:31,359 covering right at about that ninety percent. More so, No, 466 00:28:31,480 --> 00:28:33,559 he hasn't lost any of that base, and when it 467 00:28:33,599 --> 00:28:36,519 comes to that center of the electorate, he's basically holding 468 00:28:36,559 --> 00:28:39,400 on there. And his overall approval rating forty four percent 469 00:28:39,599 --> 00:28:41,559 is pretty gostar and good for him considering where he 470 00:28:41,640 --> 00:28:44,000 was at this point in term Number one. Yeah, why 471 00:28:44,079 --> 00:28:46,759 hasn't hasn't there been more movement? I think this is 472 00:28:46,759 --> 00:28:49,240 pretty simple. Take a look here. Nation's top issue is 473 00:28:49,279 --> 00:28:51,759 the Epstein case. This is the number of respondents. This 474 00:28:51,799 --> 00:28:53,880 isn't the percentage of responses. This is the number of 475 00:28:53,920 --> 00:28:58,200 responding And our last CNN poll look at this zero respondents. 476 00:28:57,599 --> 00:28:59,519 Speaker 3: Said that the Epstein case was the top issue. 477 00:28:59,599 --> 00:29:03,119 Speaker 8: How About among independents zero independence and that and among 478 00:29:03,200 --> 00:29:07,160 Republicans and therefore overall just a single one. So, yes, 479 00:29:07,200 --> 00:29:09,240 there used to be a lot of interest in this story. 480 00:29:09,359 --> 00:29:11,640 But the bottom line is that even amongst those who 481 00:29:11,680 --> 00:29:13,960 had high interest in the story, it wasn't something that 482 00:29:14,000 --> 00:29:15,799 they thought was all that important. And as I said 483 00:29:15,839 --> 00:29:18,079 at the beginning, the interest in this story has fallen 484 00:29:18,200 --> 00:29:20,640 off the table. It would just say this, Donald Trump 485 00:29:20,680 --> 00:29:23,279 has some of the best political instincts of any politician 486 00:29:23,319 --> 00:29:25,599 I've seen, and in this particular issue, you see it 487 00:29:25,799 --> 00:29:28,000 full well and clear, because he has been saying, you know, 488 00:29:28,000 --> 00:29:29,440 if this is no an issue, and it turns out 489 00:29:29,480 --> 00:29:31,480 that the a lot of the American public actually seemed 490 00:29:31,480 --> 00:29:32,119 to agree with him. 491 00:29:32,400 --> 00:29:34,440 Speaker 1: Yeah, you knew this was going to die down at 492 00:29:34,440 --> 00:29:36,559 some point. I mean, it got a lot of hubub 493 00:29:36,640 --> 00:29:38,720 and when the hubbubs like that, it's always going to 494 00:29:38,799 --> 00:29:42,559 die down. But it was mismanaged by the communication people 495 00:29:42,559 --> 00:29:45,680 at the White House big time. It just was mismanaged, 496 00:29:46,160 --> 00:29:49,759 especially with the Attorney General the way that she handled it. 497 00:29:50,079 --> 00:29:54,039 So maybe that's going to be a story that we 498 00:29:54,200 --> 00:29:56,279 only play at the end of the year as we 499 00:29:56,319 --> 00:30:02,319 look back on stories of twenty twenty five. With that, 500 00:30:02,480 --> 00:30:06,400 let's take a look at Wall Street again. Tomorrow morning 501 00:30:06,440 --> 00:30:10,119 we get the consumer Price Index issued by the Bureau 502 00:30:10,240 --> 00:30:13,680 of Labor Statistics, and Wall Street's worried that it will 503 00:30:13,680 --> 00:30:18,200 be three percent or higher. Even if so, the latest 504 00:30:18,200 --> 00:30:22,319 Fed futures bet is eighty five percent chance that the 505 00:30:22,359 --> 00:30:26,319 Fed will cut interest rates in their mid September meeting 506 00:30:26,839 --> 00:30:29,680 because the rest of the economy is starting to show 507 00:30:30,200 --> 00:30:37,079 some slowing. The CEO of Intel went to Washington today. 508 00:30:37,119 --> 00:30:39,079 He was supposed to have a meeting with the President 509 00:30:39,640 --> 00:30:42,319 in the White House. Haven't heard how that went, but 510 00:30:42,400 --> 00:30:45,960 this is the CEO that was brought in to shape 511 00:30:46,039 --> 00:30:51,000 up Intel. And the President called out Intel and called 512 00:30:51,000 --> 00:30:53,359 out this guy and wanted him fired because of the 513 00:30:53,400 --> 00:30:57,319 fact that years ago he had a company that did 514 00:30:57,359 --> 00:31:00,920 business with China and he was involved somehow, and President 515 00:31:01,000 --> 00:31:03,039 was worried about the fact that the guy in charge 516 00:31:03,039 --> 00:31:08,000 of Intel had some Chinese connections. And then Friday, of course, 517 00:31:08,079 --> 00:31:15,119 is the big Trump Putin meeting in Alaska, which it's 518 00:31:15,160 --> 00:31:18,039 going to be interesting to see if Vladimir Putin tries 519 00:31:18,160 --> 00:31:21,680 one more time to pull a stunt on an American president. 520 00:31:22,119 --> 00:31:25,720 I think Trump is ready for that. So it should 521 00:31:25,759 --> 00:31:28,920 be interesting to see what happens on Friday today. On 522 00:31:29,279 --> 00:31:37,839 Wall Street now finished down. It was decent. It wasn't huge, 523 00:31:37,880 --> 00:31:41,559 but it was down two hundred points below forty four 524 00:31:41,599 --> 00:31:44,279 thousand again, down to forty three thousand and nine to 525 00:31:44,359 --> 00:31:49,119 seventy five S and P down sixteen, Nasdaq down sixty four. 526 00:31:49,880 --> 00:31:55,720 Holy smokes, is this right? Yes? Gold down ninety seven 527 00:31:55,920 --> 00:32:00,400 dollars a day, and that's because Donald Trump changed his 528 00:32:00,559 --> 00:32:05,240 mind on tariffs regarding gold, and now he's saying, oh, 529 00:32:05,279 --> 00:32:08,759 guess what, there's no tariff on gold, and the people 530 00:32:08,759 --> 00:32:11,519 in Switzerland were having a major cow about it. So 531 00:32:11,680 --> 00:32:15,319 once the President changed the tariff on gold to zero, 532 00:32:16,319 --> 00:32:20,799 gold sunk ninety seven dollars down to thirty three ninety 533 00:32:20,799 --> 00:32:24,960 three today, and oil prices up a dime, just right 534 00:32:25,000 --> 00:32:28,440 at sixty four dollars a barrel. That's it for today. 535 00:32:28,559 --> 00:32:31,319 Thank you for coming by. Hope to see you again 536 00:32:31,359 --> 00:32:40,119 tomorrow