1 00:00:22,160 --> 00:00:26,239 Speaker 1: And reading use everyone. Hello, how are you welcome to 2 00:00:26,320 --> 00:00:29,800 the Big Podcast on this Monday. Today is the sixth 3 00:00:29,879 --> 00:00:33,679 day of July, Year of Our Lord, twenty twenty six. 4 00:00:34,520 --> 00:00:37,920 My name is Tom Sullivan. Welcome to Welcome to the program. 5 00:00:38,200 --> 00:00:41,079 We have a lot to cover. It's back to work 6 00:00:41,159 --> 00:00:45,320 after the fourth of July holiday and by the way, 7 00:00:46,520 --> 00:00:50,079 Independence Day. However you like to describe it, but I mean, 8 00:00:50,359 --> 00:00:51,679 I've been through a few of them. 9 00:00:52,079 --> 00:00:52,880 Speaker 2: We all have. 10 00:00:53,520 --> 00:00:58,560 Speaker 1: They're always nice, They're always stop me and think about 11 00:00:59,640 --> 00:01:03,039 the us scenes that we have to live where we 12 00:01:03,079 --> 00:01:09,239 live in this country. It truly is exceptional. Yet I 13 00:01:09,319 --> 00:01:16,680 don't know what it was about Saturday particularly, but there 14 00:01:16,879 --> 00:01:19,400 was I don't know. It just had a wash of 15 00:01:19,560 --> 00:01:24,239 patriotism came over me. And I love this country as 16 00:01:24,280 --> 00:01:27,840 much as anybody. But I mean, I'm not one to 17 00:01:28,959 --> 00:01:31,920 become I don't know. I don't know how to describe it, 18 00:01:32,000 --> 00:01:36,400 but I know what we have. I feel blessed we 19 00:01:36,719 --> 00:01:39,959 that we live in America. Do we have problems? 20 00:01:40,000 --> 00:01:40,560 Speaker 2: Of course we do. 21 00:01:40,920 --> 00:01:44,200 Speaker 1: They had problems two hundred and fifty years ago and 22 00:01:44,239 --> 00:01:47,439 we have all the way through. So it's not like 23 00:01:47,519 --> 00:01:50,239 this is something unusual. It's just a different kind of problem. 24 00:01:50,280 --> 00:01:54,079 We'll figure it out. But I was just I don't know. 25 00:01:54,120 --> 00:01:58,159 Maybe it's because they spent a lot of time in 26 00:01:58,200 --> 00:02:00,599 the programming that I saw a lot lot of time 27 00:02:01,400 --> 00:02:07,959 talking about the military and veterans, and I don't know. 28 00:02:08,039 --> 00:02:11,919 I mean, I'm one of millions of people that have served. 29 00:02:12,520 --> 00:02:17,159 I served, I was a first responder, and I was 30 00:02:17,240 --> 00:02:20,879 in the in the Army, and I thought, never really 31 00:02:20,879 --> 00:02:22,680 thought that much about it. I just did what I 32 00:02:22,759 --> 00:02:25,599 did because it was what I thought was the right 33 00:02:25,639 --> 00:02:28,400 thing to do. But I don't know. On Saturday, it 34 00:02:28,479 --> 00:02:35,560 was like, whoa, this is really a special birthday for 35 00:02:35,680 --> 00:02:38,520 our nation. We're still a young, young, young, young nation. 36 00:02:39,439 --> 00:02:43,879 But anyway, I really enjoyed and I hope you had 37 00:02:43,879 --> 00:02:49,039 a wonderful Independence Day fourth of July holiday. So we 38 00:02:49,120 --> 00:02:52,879 get we move on to of course we have sports. 39 00:02:53,719 --> 00:02:55,599 Sports is always, and we don't do a lot of 40 00:02:55,639 --> 00:02:59,840 sports on this program, but sports is always. What I've 41 00:02:59,840 --> 00:03:03,599 always liked about sports is that, by and large, mostly 42 00:03:04,400 --> 00:03:10,280 it's free of politics. I mean, when take the knee 43 00:03:10,360 --> 00:03:14,599 era came along and that was I didn't like that, 44 00:03:14,759 --> 00:03:17,919 not because of who was doing it, but because of 45 00:03:17,960 --> 00:03:21,360 the fact that it was political. In the middle of football, 46 00:03:21,479 --> 00:03:25,400 and I just want to enjoy my sports without the 47 00:03:25,439 --> 00:03:29,639 politics that we digest so much, especially in this program. 48 00:03:30,759 --> 00:03:37,080 So everything was going fine. The World Cup is just fantastic. Fox, 49 00:03:37,719 --> 00:03:41,719 who is broadcasting them, is apparently knocking the socks off 50 00:03:41,960 --> 00:03:44,960 with the ratings. I mean, the ratings are to the 51 00:03:45,039 --> 00:03:49,639 moon on this People are really really enjoying them. And 52 00:03:49,680 --> 00:03:53,159 the next game involving the US is tonight at eight 53 00:03:53,199 --> 00:03:58,719 o'clock in Seattle, eight o'clock Eastern time, five o'clock in Seattle, 54 00:03:59,520 --> 00:04:04,000 and it is the United States versus Belgium. But along 55 00:04:04,080 --> 00:04:08,680 the way, politics stuck its ugly head into the middle 56 00:04:08,680 --> 00:04:11,840 of all this. There was Oh and by the way, 57 00:04:11,919 --> 00:04:14,960 I did I played soccer. Not a lot of people 58 00:04:15,039 --> 00:04:18,160 my age played soccer. Well. I played actually pretty advanced 59 00:04:18,160 --> 00:04:22,959 soccer when I was a young guy. And so later 60 00:04:23,199 --> 00:04:27,480 when my boys were growing up, they played soccer and 61 00:04:27,519 --> 00:04:30,040 they found out that I played soccer. They said, all right, 62 00:04:30,279 --> 00:04:34,959 you're a coach, you're you're you know, you're you're all 63 00:04:35,000 --> 00:04:37,639 the story that you're a referee for sure. And one 64 00:04:37,639 --> 00:04:41,480 of the things I found out was that very few 65 00:04:41,480 --> 00:04:46,720 people in this country know the rules of soccer, and 66 00:04:46,759 --> 00:04:49,800 they criticized the referees. It used to be amazing. All 67 00:04:49,839 --> 00:04:54,120 these dads and grandfathers would would little recharge on to 68 00:04:54,199 --> 00:04:57,079 the field. What are you doing? They had no idea 69 00:04:57,120 --> 00:05:00,800 what the rules were. And the President today admitted that 70 00:05:00,839 --> 00:05:04,319 he didn't know anything about the rules either. Nobody knew 71 00:05:04,319 --> 00:05:06,920 what he said. He didn't know what a red card was. 72 00:05:07,839 --> 00:05:11,160 There's a yellow card, and there's a red card, and 73 00:05:11,199 --> 00:05:16,040 the yellow card is a warning going don't do that again, 74 00:05:16,319 --> 00:05:18,000 or I'm going to throw you out of the game 75 00:05:18,000 --> 00:05:22,519 with a red card. And if it's really a very 76 00:05:22,839 --> 00:05:27,319 egregious penalty, then you get a red card right away. 77 00:05:27,360 --> 00:05:31,439 But most referees try not to give a red card 78 00:05:32,040 --> 00:05:36,399 on the first offense. So in one of the recent 79 00:05:36,399 --> 00:05:39,800 game of the US player was given a red card. 80 00:05:39,839 --> 00:05:43,240 He's one of the stars of the US team. And 81 00:05:44,360 --> 00:05:48,720 I saw the penalty. I saw the infraction, and I 82 00:05:48,759 --> 00:05:52,639 think the referee was just wrong. It wasn't a red 83 00:05:52,680 --> 00:05:55,720 card violation, not even close. I even wonder if it 84 00:05:55,800 --> 00:06:00,480 was worth a yellow card, but it was what it was. 85 00:06:00,920 --> 00:06:05,839 So the President picked up the phone and called the 86 00:06:05,879 --> 00:06:11,319 head of FIFA and asked them to review the penalty. 87 00:06:12,040 --> 00:06:18,639 Now here's the problem. With that. Now politics is involved. Belgium, 88 00:06:19,079 --> 00:06:22,519 who is playing the US, like I said, tonight, would 89 00:06:22,639 --> 00:06:25,519 like to play the US without one of their star players. 90 00:06:26,439 --> 00:06:30,079 Give them an advantage. The US doesn't want to play 91 00:06:30,120 --> 00:06:32,319 without one of their star players. But they weren't involved 92 00:06:32,319 --> 00:06:35,879 in this. The president was, and Belgium is. Now they said, 93 00:06:35,879 --> 00:06:40,639 wait a minute, that's wrong Belgium. FIFA came out and said, okay, 94 00:06:40,680 --> 00:06:44,399 we'll take the red card violation away, so your star 95 00:06:44,519 --> 00:06:48,720 player in the US you can play tonight. Belgium put 96 00:06:48,759 --> 00:06:55,519 in a complaint and appealing the appeal if you will. 97 00:06:56,360 --> 00:06:59,560 So let's start with this is this is a big 98 00:06:59,639 --> 00:07:05,360 con diversity today. Let's start with the president explaining how 99 00:07:05,399 --> 00:07:06,439 he got involved in. 100 00:07:06,399 --> 00:07:09,040 Speaker 2: All of this. I did. I spoke to Johnny, who's 101 00:07:09,680 --> 00:07:14,160 highly respected, who's produced the most successful World Cup in history. 102 00:07:14,199 --> 00:07:17,839 By they say four times, this isn't just a success. 103 00:07:18,639 --> 00:07:22,199 I actually said, Johnny, we've got all these games, each 104 00:07:22,240 --> 00:07:24,519 one is turning out to be a super Bowl, and 105 00:07:24,600 --> 00:07:26,279 we have all these guys. You know, when you think 106 00:07:26,319 --> 00:07:28,160 of it, every game was like a super Bowl. Yes, 107 00:07:28,199 --> 00:07:31,079 I watched last night. What a game that was with 108 00:07:31,240 --> 00:07:34,879 Mexico and England. I mean two countries. I don't know 109 00:07:35,399 --> 00:07:38,439 the players, although I think Kane is a great player. Say, 110 00:07:38,439 --> 00:07:40,040 I played golf with him and I like him a lot. 111 00:07:40,040 --> 00:07:42,519 He's a good golf actor. So I saw the play, 112 00:07:43,480 --> 00:07:45,519 and I'm a person that loves sports and who was 113 00:07:45,560 --> 00:07:50,800 a good athlete, and I understand sports really well, really well. 114 00:07:51,560 --> 00:07:54,959 And that wasn't a foul. That wasn't even an infraction. 115 00:07:55,120 --> 00:07:57,680 There was two guys running full speed that happened to 116 00:07:57,720 --> 00:08:01,279 crash into each other. You can't you foot it properly 117 00:08:01,360 --> 00:08:04,319 placed it on somebody else's foot when you're going No, 118 00:08:04,680 --> 00:08:09,360 these were two great athletes that got tangled up. And 119 00:08:10,720 --> 00:08:15,839 this referee who is a little bit suspect if you 120 00:08:15,920 --> 00:08:19,120 check his if you check his past. I don't want 121 00:08:19,160 --> 00:08:21,959 to say that because I don't like to create controversy, 122 00:08:22,639 --> 00:08:27,120 but very suspect. If you'd like, I'll provide you with 123 00:08:27,160 --> 00:08:31,399 the past. He made a call that nobody could believe, 124 00:08:31,439 --> 00:08:34,159 you know, even people on the other side. They say, oh, 125 00:08:34,159 --> 00:08:37,440 we got lucky. Wow, that's it's very interesting. They say 126 00:08:37,440 --> 00:08:39,600 they don't show them in slow motion, and I never 127 00:08:39,600 --> 00:08:42,039 realized that. I've never heard of that before. But they're 128 00:08:42,080 --> 00:08:44,519 not allowed to review in slow motion. Because it's so different, 129 00:08:44,519 --> 00:08:47,679 because you'll take one little quarter of a second and 130 00:08:47,720 --> 00:08:49,799 you'll see that a hand is touching a neck or 131 00:08:49,799 --> 00:08:52,799 you see something, whereas when you see it in fast motion, 132 00:08:53,159 --> 00:08:55,879 it will look like two guys collided, which is really 133 00:08:56,000 --> 00:08:59,559 what happened. They got it sort of entangled. He didn't 134 00:08:59,559 --> 00:09:02,360 do anything, and he's our best player, or one of 135 00:09:02,399 --> 00:09:05,399 our best players, a very any gave a red card. 136 00:09:05,399 --> 00:09:06,840 I didn't know what that meant. I didn't think it 137 00:09:06,879 --> 00:09:09,600 meant much. Then I started hearing that that means he 138 00:09:09,639 --> 00:09:14,080 can't play in the next game, at least in this game. 139 00:09:14,799 --> 00:09:17,039 I said, boy, that's a big You know that happened 140 00:09:17,080 --> 00:09:19,840 to another player, it would have been unfair. But when 141 00:09:19,840 --> 00:09:22,559 they take your best player or just about they have 142 00:09:22,639 --> 00:09:26,080 some great players, but and they say you can't play, 143 00:09:26,960 --> 00:09:29,840 that's very unfair. That's you know, it's one thing to 144 00:09:29,960 --> 00:09:33,399 pedalize somebody for the game, but how do you pedalize 145 00:09:33,480 --> 00:09:35,159 them for a game that hasn't been played yet. It's 146 00:09:35,240 --> 00:09:38,559 very unfair. You can't do that. So yes, I asked 147 00:09:38,559 --> 00:09:42,279 for a review by FIFA. I spoke to a man 148 00:09:42,320 --> 00:09:45,120 who's highly respected and by the way, whose level of 149 00:09:45,159 --> 00:09:48,919 respect has gone up tenfold. But all I did, all 150 00:09:48,960 --> 00:09:51,480 I did, I asked for a review because I didn't 151 00:09:51,519 --> 00:09:54,159 think it was a foul. And you know, again, I'm 152 00:09:54,159 --> 00:09:56,399 good at this stuff. I didn't think it was a foul. 153 00:09:56,600 --> 00:09:58,759 I thought it was two great athletes that crashed into 154 00:09:58,799 --> 00:10:01,360 each other and got entangled. That was not a That 155 00:10:01,519 --> 00:10:03,639 was not a guy punching somebody in the face or 156 00:10:03,679 --> 00:10:06,679 anything that you know would be different, and I think 157 00:10:06,759 --> 00:10:10,320 it's I think it's a terrible If they wouldn't allow, 158 00:10:11,279 --> 00:10:14,799 you know, a top player, maybe the best, maybe among 159 00:10:14,879 --> 00:10:17,720 the best players on the team to play, I think 160 00:10:17,759 --> 00:10:21,200 it would have had a big stain. And I related 161 00:10:21,360 --> 00:10:22,919 just that field. I didn'tell him what to do. I 162 00:10:22,919 --> 00:10:25,960 can't tell him what to do. But uh, and I 163 00:10:26,000 --> 00:10:27,840 don't believe he made the decision. I think it was 164 00:10:27,879 --> 00:10:30,159 a committee that made the decision, and they made the 165 00:10:30,279 --> 00:10:33,200 right decision because number one, it wasn't a foul. And 166 00:10:33,240 --> 00:10:35,000 you want to see a game with your best players. 167 00:10:35,039 --> 00:10:36,960 You don't want to say, how would you feel if 168 00:10:36,960 --> 00:10:42,120 I took you know, we take Messy out, you know 169 00:10:42,159 --> 00:10:48,000 he ran into somebody, or we took Ronaldo Ronaldo, he 170 00:10:48,080 --> 00:10:49,799 bumped into somebody. We're going to take you out of 171 00:10:49,799 --> 00:10:53,080 a game. He's great, or Harry Kane, Harry Kane, We're 172 00:10:53,080 --> 00:10:54,960 going to take you out of the game, Harry, because 173 00:10:55,679 --> 00:10:58,080 you happen to hit somebody a little bit harder than 174 00:10:58,600 --> 00:11:00,960 you can't. You can't do that. If you would have 175 00:11:01,000 --> 00:11:03,320 taken him out, I think I think it would have 176 00:11:03,360 --> 00:11:06,879 really stained this incredible champion. We got to have our 177 00:11:06,919 --> 00:11:09,639 best players, and they've got Belgim has got a great team. 178 00:11:09,799 --> 00:11:12,960 By the way, we have our best players and they 179 00:11:13,000 --> 00:11:14,519 have to have their best and if we win or 180 00:11:14,559 --> 00:11:18,879 we lose, it's fair. Otherwise, let's say we lost him 181 00:11:18,919 --> 00:11:22,000 and we lose the game. It would be a terrible thing. 182 00:11:22,120 --> 00:11:24,960 So I think they made a really brilliant decision. I 183 00:11:24,960 --> 00:11:28,279 think the referees call was horrible, and nobody talks about that. 184 00:11:28,320 --> 00:11:31,039 They talk about the red card like it's fine. Nobody 185 00:11:31,080 --> 00:11:34,799 talks about the referees decision to red card. I didn't 186 00:11:34,799 --> 00:11:36,240 know what the hell of red card was. When I 187 00:11:36,240 --> 00:11:38,320 found out, I said, you got to be kidding. This 188 00:11:38,440 --> 00:11:41,039 guy just hands up, Okay, your best player is not 189 00:11:41,080 --> 00:11:43,360 going to play next week, ord in the next game. 190 00:11:44,240 --> 00:11:46,440 I said, Wow, that's a lot of power. That's terrible. 191 00:11:46,879 --> 00:11:50,840 But then I looked at his past and it wasn't 192 00:11:50,919 --> 00:11:57,320 so great. So he admits he interjected himself into asking 193 00:11:57,399 --> 00:12:00,639 for a review. But I do agree with the President 194 00:12:00,720 --> 00:12:03,320 that it looked like a bad call on the part 195 00:12:03,399 --> 00:12:08,039 of the ref Zolan Kano Young's from the New York 196 00:12:08,080 --> 00:12:09,679 Times had this to say. 197 00:12:09,639 --> 00:12:11,799 Speaker 3: I'm not sure if the president anticipated I'm also not 198 00:12:11,840 --> 00:12:14,679 sure if the president would would you know, considered, have 199 00:12:14,720 --> 00:12:17,600 that be a factor or the reactions with care necessarily 200 00:12:18,360 --> 00:12:24,960 we have seen now various nations issuing statements sharply criticizing 201 00:12:25,080 --> 00:12:28,240 the process for this, the decision here, that includes the 202 00:12:28,320 --> 00:12:31,840 US's opponent in Belgium, that includes Norway as well. 203 00:12:32,759 --> 00:12:34,080 Speaker 4: Look, there's a couple things here. 204 00:12:34,080 --> 00:12:38,120 Speaker 3: I mean, I'm getting responses from folks who are fans 205 00:12:38,159 --> 00:12:41,440 of US soccer are that were acknowledged that this was 206 00:12:41,480 --> 00:12:45,240 a widely criticized call, a widely criticized red card, and 207 00:12:45,279 --> 00:12:47,759 are excited about the return of one of their star players. 208 00:12:47,759 --> 00:12:50,559 But at the same time, you have to acknowledge, just 209 00:12:50,600 --> 00:12:53,159 as a journalist in this someone observing the news, that 210 00:12:53,279 --> 00:12:57,120 it is extraordinary to have the president way in this 211 00:12:57,360 --> 00:13:02,480 directly to the FIFA ahead this review was still ongoing. 212 00:13:02,759 --> 00:13:05,679 I also think it's worthy context to note that this 213 00:13:05,759 --> 00:13:08,559 comes after a year, really more than a year that 214 00:13:09,080 --> 00:13:14,039 the FIFA had was really making strides to improve his 215 00:13:14,159 --> 00:13:18,679 relationship with President Trump in what as the World Cup 216 00:13:18,919 --> 00:13:23,159 near That includes taking out an apartment in Trump Tower, 217 00:13:23,360 --> 00:13:27,399 that includes awarding him a Peace Prize as well. My 218 00:13:27,840 --> 00:13:31,879 colleague Tarakan International has done a really great work looking 219 00:13:32,559 --> 00:13:35,879 just at the relationship of these two leaders. As President 220 00:13:35,960 --> 00:13:39,559 Trump has taken this transactional approach across the global foreign leaders, 221 00:13:39,679 --> 00:13:41,639 the FIFA had the head of a spot. The Sports 222 00:13:41,639 --> 00:13:44,240 Association recognized that and also look for that. 223 00:13:44,600 --> 00:13:46,879 Speaker 1: Yeah, so the head of FIFA is no different than 224 00:13:46,919 --> 00:13:51,440 all the world leaders around that they bow and grobble 225 00:13:51,519 --> 00:13:55,120 to President Trump. They just do. But this isn't the 226 00:13:55,159 --> 00:13:59,759 first time something like this has happened. Leander from the 227 00:13:59,759 --> 00:14:02,159 guard Guardian gives us a little history. 228 00:14:02,639 --> 00:14:06,120 Speaker 4: Oh, the whole thing is just fairly shocking. I mean, 229 00:14:06,279 --> 00:14:09,519 there is some precedent here. Cristiano Ronaldo was supposed to 230 00:14:09,519 --> 00:14:12,120 be suspended for the first two games of this World Cup, 231 00:14:12,480 --> 00:14:14,720 and after a visit to the White House with his 232 00:14:14,840 --> 00:14:18,519 employer in Saudi Arabia, Muhammed bin Salman, suddenly that was 233 00:14:18,639 --> 00:14:22,200 undone and we were told no, actually, he's perfectly fine 234 00:14:22,240 --> 00:14:25,159 to play at this World Cup. So this has happened 235 00:14:25,200 --> 00:14:29,440 before for someone like Ronaldo. It's fairly shocking the way 236 00:14:29,480 --> 00:14:32,440 this has gone down. On the one hand, a wrong 237 00:14:32,559 --> 00:14:35,080 has been righted because it wasn't a red card by 238 00:14:35,120 --> 00:14:37,919 any sensible reading of the rules or of the play. 239 00:14:38,200 --> 00:14:41,159 But now a new wrong has been enacted in doing this. 240 00:14:41,639 --> 00:14:44,200 And you know, the Norwegian coach after the Brazil Norway 241 00:14:44,240 --> 00:14:47,320 game that I was at yesterday, he made the point that, 242 00:14:47,440 --> 00:14:50,120 you know, however this game turns out, even if the 243 00:14:50,200 --> 00:14:53,279 US wins, there's going to be this cloud over that win, 244 00:14:53,360 --> 00:14:55,879 which would be a fairly historic run for the US. 245 00:14:56,120 --> 00:14:58,399 If they make the quarterfinal, it's going to have an 246 00:14:58,440 --> 00:15:01,519 asterisk behind it, and that's unfortunate. 247 00:15:02,320 --> 00:15:07,360 Speaker 1: It is unfortunate. But that game tonight eight o'clock Eastern, 248 00:15:07,399 --> 00:15:11,159 five o'clock Pacific in Seattle, it will be the US 249 00:15:11,320 --> 00:15:17,159 versus Belgium maintime. A big day in the world of 250 00:15:17,360 --> 00:15:22,679 finance and children. The Trump accounts went active on the 251 00:15:22,720 --> 00:15:28,679 fourth of July, so now the effort to get the 252 00:15:28,759 --> 00:15:32,039 kids signed up. I mean, they're going to give your 253 00:15:32,120 --> 00:15:37,200 children one thousand dollars if they were born on January first, 254 00:15:37,279 --> 00:15:41,519 twenty twenty five. Through the end of two thousand and 255 00:15:41,799 --> 00:15:49,120 twenty eight is the eligibility period, and you get tax 256 00:15:49,279 --> 00:15:53,720 deductible contributions of up to five thousand dollars a year. 257 00:15:54,600 --> 00:16:00,960 Investments can be made in a low cost stock index, FUN, 258 00:16:01,480 --> 00:16:06,399 an ETF, variety of choices. The money cannot be withdrawn 259 00:16:06,480 --> 00:16:10,720 until the child is eighteen. At that time they should 260 00:16:10,799 --> 00:16:13,240 just take the money and roll it over into another 261 00:16:13,399 --> 00:16:16,519 tax deferred vehicle. But they cannot take the money out. 262 00:16:17,000 --> 00:16:18,919 It's kind of like an ERA or a four to 263 00:16:18,960 --> 00:16:20,919 oh one K. They can't take the money out before 264 00:16:20,919 --> 00:16:23,240 they're fifty nine and a half. If they do, there's 265 00:16:23,279 --> 00:16:27,840 a ten percent penalty plus tax. But it also it 266 00:16:27,879 --> 00:16:31,200 can be taken out to be used penalty free for 267 00:16:31,720 --> 00:16:37,960 a college or for a first home purchase. So Jenny Johnson, 268 00:16:38,159 --> 00:16:41,679 who is the head of Franklin Templeton, one of the 269 00:16:41,679 --> 00:16:46,720 big mutual fun country companies in the world, is all 270 00:16:46,840 --> 00:16:51,279 jazzed about the Trump accounts, and I am too well. 271 00:16:51,480 --> 00:16:54,159 Speaker 5: So, first of all, I think that the most important 272 00:16:54,399 --> 00:16:57,559 investment decision a person can make is not did you 273 00:16:57,960 --> 00:17:00,000 pick the right index? Did you Pike the right stuff 274 00:17:00,240 --> 00:17:03,399 it's getting in the market. And what the Trump account 275 00:17:03,480 --> 00:17:07,119 does is it broadens the capability of people to have 276 00:17:07,160 --> 00:17:12,079 access to the market. So let me put that in 277 00:17:12,119 --> 00:17:16,240 the power of compounding. If you invest five thousand dollars 278 00:17:16,319 --> 00:17:19,000 a year, if one thousand dollars a year for ten 279 00:17:19,079 --> 00:17:22,160 years at age twenty, when you retire at sixty, you 280 00:17:22,200 --> 00:17:24,920 will have more money than a person who starts to 281 00:17:24,960 --> 00:17:27,960 invest at age thirty and invest the same amount per 282 00:17:28,039 --> 00:17:29,319 year for thirty years. 283 00:17:29,599 --> 00:17:30,880 Speaker 4: That's the power of compounding. 284 00:17:30,880 --> 00:17:32,480 Speaker 5: And so if you look at what the Trump accounts, 285 00:17:32,599 --> 00:17:36,519 we're now starting at birth and being able to compound. 286 00:17:37,200 --> 00:17:39,960 I think it's incredibly powerful. And then the second thing 287 00:17:40,079 --> 00:17:42,759 is it actually what has made this country great. What's 288 00:17:42,759 --> 00:17:45,640 made this country great is that we have capital markets 289 00:17:45,680 --> 00:17:48,400 that fund innovation. We're the most innovative country in the world. 290 00:17:48,559 --> 00:17:51,440 And now we can broaden the participation and so that 291 00:17:51,599 --> 00:17:54,160 individuals will be able to look at it and say, hey, 292 00:17:54,559 --> 00:17:57,200 I'm an owner of that really exciting company, and I 293 00:17:57,240 --> 00:17:59,079 think that that right there is. 294 00:18:00,599 --> 00:18:00,799 Speaker 2: Yeah. 295 00:18:00,839 --> 00:18:03,799 Speaker 1: Success. So she goes back over early. If she was 296 00:18:03,839 --> 00:18:06,799 asked again, can you explain that that compounding number? Again, 297 00:18:07,079 --> 00:18:11,079 it's a great story about if you start when you're 298 00:18:12,480 --> 00:18:16,319 ten years old and go to thirty and stop, you 299 00:18:16,400 --> 00:18:18,920 will have more money than a person that starts at 300 00:18:18,920 --> 00:18:22,559 thirty and goes all the way till they're retired. Compounding 301 00:18:22,720 --> 00:18:29,160 is a fantastic, magical thing, and let's go back. Jenny Johnson, Franklin, 302 00:18:29,200 --> 00:18:32,000 Templeton's CEO, explains all about that. 303 00:18:32,640 --> 00:18:36,240 Speaker 5: So, first of all, Franklin Templeton is matching our any 304 00:18:36,559 --> 00:18:39,599 the employee trump accounts, So that's exciting, and I agree 305 00:18:39,599 --> 00:18:42,039 with you. I think it's a great way to get 306 00:18:42,279 --> 00:18:45,960 additional value. So if you invest for ten years, starting 307 00:18:46,000 --> 00:18:48,279 at age twenty five thousand dollars a year, just darting 308 00:18:48,279 --> 00:18:51,279 a seven percent return every year, and just stop at 309 00:18:51,279 --> 00:18:54,680 age thirty, you will have more money leaving that compounding 310 00:18:54,680 --> 00:18:57,160 in the market than a person who starts at age 311 00:18:57,200 --> 00:18:59,880 thirty does five thousand dollars a year for thirty years, 312 00:19:00,240 --> 00:19:01,359 it gets seven percent return. 313 00:19:01,640 --> 00:19:02,680 Speaker 4: That is the power of company. 314 00:19:02,720 --> 00:19:04,559 Speaker 5: That's why I always say to people, actually, the most 315 00:19:04,599 --> 00:19:07,759 important investment decision you could make is just getting in 316 00:19:07,839 --> 00:19:09,759 the market to start to invest. 317 00:19:09,920 --> 00:19:12,079 Speaker 1: Let me correct that and make sure you've got it. 318 00:19:12,359 --> 00:19:15,440 You start at twenty years of age and put money 319 00:19:15,440 --> 00:19:19,279 in every year until you're thirty and then stop. That's 320 00:19:19,319 --> 00:19:23,039 a ten year investment period. Compared to the person that 321 00:19:23,480 --> 00:19:26,880 starts when they're thirty, waits until they're thirty, and they 322 00:19:26,920 --> 00:19:29,799 invest until they're sixty for thirty years. Who's going to 323 00:19:29,880 --> 00:19:33,240 have more money the person that started when they were 324 00:19:33,279 --> 00:19:36,880 younger and only went for ten years. So compounding this 325 00:19:36,960 --> 00:19:41,519 is why this is important. And so the way that 326 00:19:41,599 --> 00:19:46,559 you get into this if you have children, grandchildren, whatever 327 00:19:46,559 --> 00:19:50,880 it might be in that age group, is you use 328 00:19:51,519 --> 00:19:54,640 course as a form for this. Go on to the 329 00:19:54,680 --> 00:19:58,559 IRS website and look for form forty five forty seven 330 00:19:59,039 --> 00:20:01,680 and you think, what was that? No, No, man, another IRA, 331 00:20:02,119 --> 00:20:07,880 No get it? Forty five forty seven. Yeah, I know 332 00:20:08,039 --> 00:20:11,519 it's all about Well Trump got his name on everything. 333 00:20:12,519 --> 00:20:15,599 He's the forty fifth president and the forty seventh president. 334 00:20:16,079 --> 00:20:21,319 So the form is form forty five forty seven. Or 335 00:20:21,759 --> 00:20:26,759 you can go to Trump Accounts dot gov and this 336 00:20:27,119 --> 00:20:33,119 goes for those little babies that are being born deposits. 337 00:20:34,119 --> 00:20:37,160 You can start him out. They actually started on Saturday, 338 00:20:37,279 --> 00:20:41,039 fourth of July, so it's a nice it's a nice 339 00:20:41,079 --> 00:20:44,759 benefit for look it. They've been trying to do this 340 00:20:44,799 --> 00:20:47,640 for as long as I can remember when they first 341 00:20:47,680 --> 00:20:50,160 came out with iras, I believe it was the early 342 00:20:50,240 --> 00:20:53,640 nineteen seventies, and I think it was in the eighties. 343 00:20:53,720 --> 00:20:56,440 Congress decided that they were going to put some restrictions 344 00:20:56,480 --> 00:20:58,640 on it. And I talked to a congressman that I knew, 345 00:20:59,359 --> 00:21:01,799 and I said, why would you do that? And he says, 346 00:21:01,839 --> 00:21:06,079 because we can't afford the tax loss that this is 347 00:21:06,119 --> 00:21:09,359 going to create for for the Congress. And I said, 348 00:21:09,359 --> 00:21:12,799 but on the other hand, people, Social Security is not 349 00:21:12,920 --> 00:21:15,880 going to cut the cut the deal for people in 350 00:21:15,960 --> 00:21:19,160 there in very near future. You're going to have to 351 00:21:19,200 --> 00:21:22,119 have people invest on their own so we don't have 352 00:21:22,200 --> 00:21:24,960 a country all the people that don't have any money. 353 00:21:25,519 --> 00:21:28,920 So this is another attempt at it. I applauded. I 354 00:21:28,920 --> 00:21:31,799 think it's a great idea. Uh, spread the word for 355 00:21:32,079 --> 00:21:34,720 if you have little children, great, if you know somebody 356 00:21:34,720 --> 00:21:37,880 that does, get them, get them signed up on this 357 00:21:37,960 --> 00:21:41,079 whole deal. All right, what are we going next? So 358 00:21:41,119 --> 00:21:45,519 we've got the FIFA, We've got the Trump accounts. Oh yeah, 359 00:21:45,559 --> 00:21:49,559 we've got the pool, the reflect the story that won't 360 00:21:49,599 --> 00:21:55,000 go away, the reflecting pool. I I don't know. They 361 00:21:55,000 --> 00:21:57,440 said it was caused by Now I've seen the videos 362 00:21:57,640 --> 00:22:00,440 the news cruise are out there. It looks like it 363 00:22:00,559 --> 00:22:05,000 wasn't a straight line cut. But they swear there's a 364 00:22:05,039 --> 00:22:09,119 straight line cut of two hundred and some feet that's 365 00:22:09,160 --> 00:22:13,920 almost a football field long of No, I don't buy that, 366 00:22:14,039 --> 00:22:18,839 but they swear there is a somebody vandalized this whole thing. 367 00:22:18,880 --> 00:22:22,240 Here's the guy in charge of this whole thing, Doug Bergham, 368 00:22:22,279 --> 00:22:23,839 the Secretary of the Interior. 369 00:22:24,400 --> 00:22:27,119 Speaker 6: We'll use the same company because they did a fantastic job. 370 00:22:27,160 --> 00:22:29,880 I mean, even with this damage of the gash that 371 00:22:29,920 --> 00:22:33,200 we're talking about. You're talking about again, this is a 372 00:22:33,599 --> 00:22:37,200 the size of eight football fields. It is eight acres, 373 00:22:37,279 --> 00:22:40,079 and we're talking about like point zero zero one percent. 374 00:22:40,680 --> 00:22:43,880 Speaker 1: Yeah, So if a contractor does a lousy job, are 375 00:22:43,880 --> 00:22:46,880 you gonna call him back again and say, hey, come 376 00:22:46,920 --> 00:22:50,279 back and fix your lousy job. Well, the government is 377 00:22:50,880 --> 00:22:53,799 this is like a strong material and it's the size 378 00:22:53,799 --> 00:22:54,920 of eight football fields. 379 00:22:55,240 --> 00:22:57,559 Speaker 6: And the only way you can end up with actual 380 00:22:57,640 --> 00:22:59,759 slices in one spot and not the other is that 381 00:23:00,039 --> 00:23:04,119 one physically cut it. And so the pool itself it's 382 00:23:04,160 --> 00:23:07,279 not leaking. It was leaking forty five thousand gallons a day. 383 00:23:07,319 --> 00:23:11,279 It's finally been fixed by President Trump and the American 384 00:23:11,359 --> 00:23:13,000 flag blue is working perfectly. 385 00:23:13,400 --> 00:23:16,200 Speaker 1: So I've always thought highly of Doug Bergham. He started 386 00:23:16,200 --> 00:23:20,359 a company that I used his product of his software, 387 00:23:20,400 --> 00:23:24,680 accounting software many years ago. He and I actually were 388 00:23:24,720 --> 00:23:27,240 at the same school at the same time, and I mean, 389 00:23:27,279 --> 00:23:32,240 he's a smart guy. I like him. But this sounds 390 00:23:32,440 --> 00:23:35,559 it's not plausible that somebody did a two hundred and 391 00:23:35,559 --> 00:23:39,480 fifty foot cut and the video from the television station 392 00:23:39,640 --> 00:23:44,160 shows that its blotches of it have come apart. So 393 00:23:44,240 --> 00:23:47,279 we'll see what they do. But they're still trying to 394 00:23:47,279 --> 00:23:50,839 figure out what to do about the pool. The President 395 00:23:51,000 --> 00:23:54,400 is on his way to this evening. He's heading to NATO. 396 00:23:54,920 --> 00:24:00,079 They're having a big NATO meeting in Turkey, so the 397 00:24:00,079 --> 00:24:03,000 President's going to go to that and what's going to happen. 398 00:24:03,079 --> 00:24:08,079 There is going to be a big discussion about Ukraine 399 00:24:08,799 --> 00:24:12,920 and Barakravid. I know we haven't talked about Ukraine in 400 00:24:12,960 --> 00:24:17,400 a long time, but Ukraine is using their drone technology. 401 00:24:17,519 --> 00:24:20,880 They are dropping bombs right in the heart of Moscow. 402 00:24:21,640 --> 00:24:23,680 So here's Barack Revig giving us an update. 403 00:24:23,960 --> 00:24:27,480 Speaker 7: So I think there's been a I don't know if 404 00:24:27,799 --> 00:24:30,279 maybe a shift is too strong of a word, but 405 00:24:30,319 --> 00:24:34,920 there's been a slow movement in Trump's thinking about the 406 00:24:35,000 --> 00:24:38,880 Russia Ukraine War over the last let's say, two three months. 407 00:24:39,319 --> 00:24:43,279 I think it's been affected by a lot of success 408 00:24:43,319 --> 00:24:46,640 the Ukrainians had in the battlefield, especially when it comes 409 00:24:46,680 --> 00:24:52,319 to long range attacks inside Russian territory, especially against Russian 410 00:24:52,319 --> 00:24:57,839 oil facilities, which caused an energy crisis in Russia. And 411 00:24:57,880 --> 00:25:02,599 I think that Trump is slowly moving away from the 412 00:25:02,640 --> 00:25:06,720 alleged understandings he had with President Putin in their summit 413 00:25:06,759 --> 00:25:14,440 in Alaska last year. He's slowly abandoning those understandings and 414 00:25:14,519 --> 00:25:20,279 moving towards developing a new policy which is based on 415 00:25:20,319 --> 00:25:23,960 the fact that Ukraine at the moment seems to have 416 00:25:24,920 --> 00:25:28,319 the upper hand in the war. I think a lot 417 00:25:28,319 --> 00:25:31,880 of people around Trump think so, and I think he's 418 00:25:31,920 --> 00:25:32,880 moving in that direction. 419 00:25:33,440 --> 00:25:37,680 Speaker 1: Well, President Trump is hey Love's success, and so if 420 00:25:37,680 --> 00:25:41,079 all of a sudden, Zelensky's starting to get success, you 421 00:25:41,160 --> 00:25:43,720 can bet that he's going to get the attention of 422 00:25:43,759 --> 00:25:47,799 the President again. So that'll be a topic high topic 423 00:25:48,200 --> 00:25:52,960 in the NATO meeting in Turkey. It's going to be 424 00:25:53,400 --> 00:25:56,200 a few days. Well, it's already underway, but the president, 425 00:25:56,480 --> 00:25:59,039 like I said, going tonight, so he'll be there for 426 00:25:59,119 --> 00:26:02,039 two or three days of it as far as Iron goes. 427 00:26:02,680 --> 00:26:05,400 General Jack Keen weighs in again. 428 00:26:05,720 --> 00:26:08,640 Speaker 8: Well, certainly we're in the beginning stages of a major 429 00:26:08,680 --> 00:26:09,960 diplomatic effort here. 430 00:26:10,680 --> 00:26:11,480 Speaker 2: Likely the clock is. 431 00:26:11,519 --> 00:26:13,720 Speaker 8: Running for sixty days, but I don't think we'd be 432 00:26:13,799 --> 00:26:18,559 surprised if it went beyond sixty days. The Iranians are 433 00:26:19,039 --> 00:26:24,559 masters at negotiations and extending negotiations beyond the terms and 434 00:26:24,599 --> 00:26:28,559 deadlines of it. So yes, what has happened here, obviously 435 00:26:28,720 --> 00:26:33,119 is the military objectives were overtaken by political and economic 436 00:26:33,200 --> 00:26:37,319 objectives that became the priority, giving oil and gas prices, 437 00:26:37,799 --> 00:26:41,119 and that produced the phase that we're in. President Trump 438 00:26:41,160 --> 00:26:44,000 is trying to accomplish everything that we were going to 439 00:26:44,000 --> 00:26:49,279 try to do militarily and do it through diplomatic reasons 440 00:26:49,279 --> 00:26:53,279 here and negotiations. And there's three things here. One the 441 00:26:53,400 --> 00:26:57,039 entire nuclear enterprise no longer exists, nor the potential to 442 00:26:57,119 --> 00:27:01,240 recover it. And two restrictions on balistic missiles and stop 443 00:27:01,279 --> 00:27:05,680 the support for proxies. Those are major, major goals that 444 00:27:05,720 --> 00:27:09,079 we were attempting to achieve militarily, and hopefully that can 445 00:27:09,119 --> 00:27:13,160 be agreed to diplomatically. I'll tell you based on the 446 00:27:13,240 --> 00:27:16,400 evidence so far that we have from the Iranians in 447 00:27:16,480 --> 00:27:19,160 terms of how they're still contesting the straits of a mouse, 448 00:27:19,880 --> 00:27:23,279 and obviously eight ships turned around on Saturday. Based on 449 00:27:23,319 --> 00:27:26,920 their intimidation and coercion. President Trump has had to pull 450 00:27:26,920 --> 00:27:30,680 the trigger twice recently in terms of military attacks to 451 00:27:30,720 --> 00:27:35,680 get their attention because of violation of the ceasefire. We 452 00:27:35,839 --> 00:27:40,319 have reports that they're recovering the nuclear program at Pickaxe Mountain, 453 00:27:40,880 --> 00:27:43,920 and that's supposed to be the status quo. They're also 454 00:27:44,000 --> 00:27:47,599 recovering their ballistic missile program, and according to the agreement 455 00:27:47,640 --> 00:27:50,920 of the ceasefire, we stay at the status quo. In 456 00:27:50,960 --> 00:27:53,839 other words, we're not doing those kinds of activities. So 457 00:27:54,000 --> 00:27:59,200 it questions the sincerity and determination of the Iranians here 458 00:27:59,599 --> 00:28:02,880 on a diplomatic effort. My own gut feel is I 459 00:28:02,880 --> 00:28:04,720 think the Runians haven't changed one bit. 460 00:28:05,079 --> 00:28:08,759 Speaker 1: Yeah, the general still wanted to do the military campaign, 461 00:28:08,799 --> 00:28:12,240 you know that. So the funeral service, it's a multi 462 00:28:12,319 --> 00:28:15,400 day funeral service for the Iyotota that was killed on 463 00:28:15,440 --> 00:28:19,079 the first day of the war. His sons all showed 464 00:28:19,160 --> 00:28:22,119 up except for the new Supreme Leader. He did not 465 00:28:22,359 --> 00:28:25,359 show and that brings up the question about is he alive. 466 00:28:25,480 --> 00:28:29,559 If he is alive, is he cognizant of what's going on, 467 00:28:29,799 --> 00:28:32,559 we don't know. But his other sons were there, but 468 00:28:32,640 --> 00:28:39,119 not the new Ayatola. But the crowds were big. But 469 00:28:39,880 --> 00:28:42,240 back to General Keane because he says, all right, but 470 00:28:42,279 --> 00:28:45,559 they can get as he calls them, stooges to come out. 471 00:28:45,799 --> 00:28:48,160 Speaker 8: Yeah, well, the Iranians can bruce tens of thousands, if 472 00:28:48,200 --> 00:28:51,799 not hundreds of thousands of people stooges for the regime 473 00:28:51,920 --> 00:28:55,079 for sure. I think we've seen plenty of evidence to 474 00:28:55,119 --> 00:28:58,640 the contrary. The surveys about eighty five percent oppose the regime, 475 00:28:59,200 --> 00:29:02,079 and we saw with the demonstrations began in December twenty 476 00:29:02,119 --> 00:29:05,960 twenty five over economic reasons and what the regime was 477 00:29:06,359 --> 00:29:09,839 doing to them in terms of their everyday life. Two 478 00:29:09,960 --> 00:29:14,440 hundred plus cities received demonstrations and tens of thousands totaling 479 00:29:14,519 --> 00:29:17,240 millions of people. And I think that was much more 480 00:29:17,319 --> 00:29:21,920 reflective of where the people in Iran really are. And 481 00:29:21,960 --> 00:29:25,920 certainly testimony to that was their willingness when the regime 482 00:29:26,000 --> 00:29:30,200 began to repulse them with gunfire. They stood there unarmed 483 00:29:30,519 --> 00:29:33,799 and somewhere in the neighborhood. Estimates thirty to forty thousand 484 00:29:33,880 --> 00:29:37,799 of them were horrifically killed by these barbarians who the 485 00:29:37,920 --> 00:29:39,720 people are in my judgment. 486 00:29:40,119 --> 00:29:42,480 Speaker 1: So while the funeral is, like I said, it's a 487 00:29:42,519 --> 00:29:45,480 multi day funeral. So while that's going on, apparently everybody's 488 00:29:45,519 --> 00:29:50,680 agreed to no shooting, no fighting. There's a ceasefire because 489 00:29:50,920 --> 00:29:58,680 of the funeral. President birthday today. George W. Turns eighty 490 00:29:59,079 --> 00:30:05,359 years O today, Happy birthday, W. And it's interesting because 491 00:30:05,400 --> 00:30:09,200 President Trump just turned eighty couple of weeks ago, and 492 00:30:09,319 --> 00:30:12,000 President Clinton is going to turn eighty this summer. So 493 00:30:12,119 --> 00:30:16,920 three of them from nineteen forty six all having birthdays 494 00:30:18,000 --> 00:30:24,119 this particular summer. All right, Wall Street today was positive. 495 00:30:25,400 --> 00:30:28,960 The Dow started off lower this morning, but turned around 496 00:30:29,200 --> 00:30:32,400 after about an hour and started climbing to a gain 497 00:30:32,680 --> 00:30:36,359 of one hundred and fifty five. The now at fifty 498 00:30:36,400 --> 00:30:40,559 three thousand and fifty five, first time above fifty three thousand, 499 00:30:41,200 --> 00:30:45,039 SMP up fifty four NASDAC up two hundred and eighty eight. 500 00:30:45,759 --> 00:30:48,440 Gold was up forty nine dollars to four thousand and 501 00:30:48,440 --> 00:30:52,960 one seventy four, and oil went back and forth in 502 00:30:53,000 --> 00:30:56,480 a very narrow range around sixty eight and that's where 503 00:30:56,480 --> 00:30:59,160 it finished, sixty eight dollars for one barrel of oil. 504 00:31:00,039 --> 00:31:04,119 That's it for today. Thank you for coming by. We 505 00:31:04,279 --> 00:31:07,240 will be back again tomorrow. I hope to see you then. 506 00:31:13,720 --> 00:31:13,759 Speaker 2: H