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Speaker 1: And here we go. Welcome to the Big Podcast on

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this Wednesday. Today is the twenty ninth day of July,

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year of our Lord, twenty twenty six. My name is

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Tom Sullivan. And busy day, busy, busy, busy day. We've got.

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Oh you don't want, do not open your bank statement,

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just don't. It was an ugly day on Wall Street.

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Today we've got The FED also had their meeting, second

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meeting which Kevin Walsh sat as Chairman of the FED,

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and they left interest rates unchanged at three point five

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to three point seventy five on the federal funds rate.

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So Wall Street tanked on that it was already down,

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it was already down. But at two o'clock when the

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announcement came out that they were leaving interest rates unchanged,

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a lot of the market sold off. A lot of

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people are very concerned that inflation not only is above

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the Fed's target. And Kevin watsh keeps talking about the

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fact that we are going to make sure that that

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we're going to tackle that inflation. I mean, he's talking tough,

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but they left it unchanged. Now, there are twelve people

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that make the vote, but it was three of the

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federal Reserve. Open Market Committee members voted to hike interest rates.

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And if you think inflation is growing and getting out

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of control, you hike interest rates to slow down the economy.

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That's that's the proper reaction. And yet they left it unchanged,

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which a lot of people on Wall Street are going,

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Oh my gosh, the Fed is going to fall behind

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on fighting inflation, and inflation is just going to keep growing.

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So yeah, three and a half to three point seventy

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five is the federal funds rate the thirty year treasury

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the highest yield since Liberation Day back in April twenty

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twenty five. It's five point two percent for a thirty

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year treasure government treasury treasure bon So that's what the

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concern is. So Wall Street doesn't like it. We'll get

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to the numbers here in just a minute. The big,

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the big drama of the day, and I emphasized drama,

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was the hearing by Rand Paul Senator and Paul of

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doctor Fauci, and he was there was there's a lot

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going on there. I don't know where you sit. This

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is supposed to be somehow, It is supposed to be

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a political that if you are a Republican, you do

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not like doctor Fauci. If you're a Democrat, you love

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doctor Fauci. That's kind of the overwhelming political thing, you know,

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in political press. I'm looking at it and going, well,

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I always want to believe science over a politician. So

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I'll listen to a doctor before I listen to a

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member of Congress when it comes to things like health,

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like COVID and yes, here we are twenty twenty six,

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and you go, oh, wait a minute, have that was

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a long time ago. It's been five plus years and

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ran Paul, So anyway, let me stay with doctor Fauci.

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So Fauci is slippery guy. He's not your average doctor.

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He is they I still don't know how Ran Paul

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got hold of Fauci's eleven hundred page diary. But in

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the diary he was writing his personal thoughts about all

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things COVID, and they were the complete opposite of what

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he was saying publicly. So it appears that he was

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lying to us. And there's you know, the stuff in

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there about the fact that he really thought that he

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really wrote that he thought that he was the most

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important person in the United States and that he is

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now a global celebrity. So he was all taken away

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with the globe man. Did the camera bug bite him? Absolutely?

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So I'm going Fauci doesn't seem like the kind of

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character I would put a lot of faith in. But

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then again, Ran Paul Man, he's a piece of work too.

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I mean, this guy, he's a hothead. He has a

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reputation for being a hot head. He I mean the

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story about his neighbor came over and they got into

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a physical fight and Ran Paul had broken ribs and

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a bunch. I mean, he's that kind of guy. He

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is one hothead and he's got a thing. He's a

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medical doctor. I believe he's an ophthalmologist, but still, you know,

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he had had to go through medical school, so he's

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not an infectious disease expert like Fauci. But he has

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had a hard spot for doctor Fauci for the last

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five plus years and it came out big today. So here,

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let me let me play for you the essence of

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what happened during this big hearing with doctor Fauci.

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Speaker 2: No function.

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Speaker 3: Research on monkey poks being conducted at the National Biodefense

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Analysis and Countermeasure Center and back at Fort Detrick.

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Speaker 4: On the Advisive Council, I respectfully declined to answer based

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upon my rights under the Fifth Amendment of the Constitution.

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Speaker 3: Doctor Fauci, did the CIA ever transfer funds to NIH

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under an interagency agreement?

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Speaker 1: On the Advisive Council?

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Speaker 4: I respectfully declined to answer based upon my rights under

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the Fifth Amendment of the Constitution.

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Speaker 3: Ardra Fauci, did the NIH ever conduct research for or

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in coordination with any element of the Intelligence Community CIA ODNI.

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Speaker 1: On the Advisive Council?

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Speaker 4: I respectfully declined to answer based upon my rights under

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the Fifth Amendment to the Constitution.

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Speaker 1: I mean, you get the you get the idea, right

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that that went on, that went on. Somebody kept track that.

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He said the Fifth Amendment thing one hundred and eleven times. Yeah,

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so yeah, somebody kept track of it. And so wait,

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it went nowhere. And as a result, the members of

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the Senate on this committee that we're sitting there, they

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weren't going to get any answers, so they just did

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what they loved to do anyway, which was given They

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have five minute windows they give they gave five minute speeches.

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I mean, I was I was watching this one Senator

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Margaret his song from New Hampshire, and she used her

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she's a Democrat, she used her tire entire time to lecture.

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Fauci didn't ask one question, well, no reason to ask

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a question. So it was it was it was everybody

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knew this was going to happen. So this was all

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a performance. This was all theater. It did not get

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one thing. We did not learn one thing out of

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this hearing. And what it kind of showed, it wasn't

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right down the line. But it's basically, like I said, Republicans,

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you're supposed to hate Pauci. Democrats you're supposed to love Fauci,

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but that's not universal. But he seems like a bad character.

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Fauci does and Ran Paul seems like he is obsessed,

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which doctor Fauci said in his opening statement here he is.

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Speaker 4: Member Peters, members of the committee. I served at the

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NIH for over fifty four years, thirty eight of those

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as Director of the National Institute of Allergy and Infectious Diseases.

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Over that period, I proved that I believe in and

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respect the value of legitimate congressional oversight. In fact, I

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testified before and or briefed Senate and House Congressional Senate

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and House committees well over two hundred times over those

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thirty eight years. During and after the COVID pandemic, I

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have appeared multiple times for hearings in the Senate and

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the House, usually under oath, and sat for several days long,

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transcribed sworn interviews answering questions about the very issues that

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are now the subject of this hearing. However, given Senator

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Paul's obvious obsession with calling for my prosecution, his repeated

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slanderous comments about me, and recently his publicly releasing my

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unredacted personal diary aimed at embarrassing and intimidating me, the

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only conclusion I can reach is that the sole reason

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he is calling me before this committee is to get

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me to say something, anything that could vindicate his repeated

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public pledges that I end up, in his words quote

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behind bars.

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Speaker 1: Well, yes, that's true. That's exactly what rand Paul has

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said again today too. He wants him in jail the

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worst way. So listen to this. So that was the

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only thing you heard from doctor Fauchi. He gave his

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a little opening statement. It went about a minute, and

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sitting at the table with him was his attorney, and

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there were a whole bunch of people behind him sitting

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in the galley, and they well, it became a problem

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for Rand Paul that the attorney was sitting next to

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and listen to thiss.

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Speaker 3: By today Center Beaters. You're not recognized, You're not recognized.

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If you are unruly, you will be removed from the proceeding.

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You are not you are not recognized, and you you

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are not recognized, sir, sir, you are not recognized. You

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are not recognized. Security, we'll, we'll, we'll hold off, but

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you will respect these proceedings. You were told not to

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sit at the table. You insist on sitting at the table,

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and we told you you would not be recognized. You

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are not invited here for testimony. Sir, you are being disruptive.

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Would you behave this way in a courtroom? No, because

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the judge would put you in jail. I can't do

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that today, but I can have you escorted from the premises.

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So I would say, sir, sit quietly and don't say

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another word. I said, sit quietly, you are not recognized.

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Speaker 5: Another word and you're gone, Swister, Chairman, I'd like to

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hear what the attorney has to say.

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Speaker 3: He's not recognized by the committee or the chair. If

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he speaks again, he will be removed from the room.

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This testimony is from Anthony Fauci. This is not a

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game with his lawyers. He can advise, his lawyers can

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give him advice. He's got a half dozen here. They're

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all allowed to talk to him. Yes, all right, but

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the attorneys are not recognized. In fact, the attorney was

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told not to sit at the table and he's not

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obeying that recommendation. There's a row behind you, sir, that's

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where you were told to sit, and you're not. And

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now you're disrupting the proceedings. And so look, this is

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the way Anthony Fauci wants to be remembered. For a lawyer,

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not listening to the rules, that's the way you want

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to be remembered. And that's where you're going to do.

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You are not recognized, sir. Security police it in from

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the room.

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Speaker 1: I just opened there.

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Speaker 2: So you think, yeah, let the record state that doctor

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Fausci will still have the advice of the other half

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a dozen attorneys that he brought along today.

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Speaker 1: Senator Peters, Oh, you talk about performance, Well, they and

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the attorney while the attorney was being a jerk in

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my humble opinion, and so later they caught him in

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the hallway. They ran out there and wanted to find

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out what why were you still tried to talk when

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you ever told you weren't supposed to even say at

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the table. And this is what the attorney said, have

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you ever.

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Speaker 6: Seen this happen in a congressional hearing?

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Speaker 7: He has a valid Fifth Amendment privilege and he has

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the right to assert it.

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Speaker 1: That's what you were trying to say. That's what I

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was trying to tell the committee.

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Speaker 6: And obviously I've covered a lot of these hearings on

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Capitol Hill, very very tense moment there. And despite the

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fact that I've covered a number of these hearings, I've

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even covered a number of really fiery hearings where Senator

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Ran Paul was the chairman. I have never seen a

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lawyer of someone kicked out of the room. Obviously, that

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was an extremely, extremely fiery moment that you saw there.

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Repeatedly throughout the last hour and a half, Doctor Fauci

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has just continued to plead the fifth whether that was

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a question about his time leading the coronavirus response in

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this country, or whether it was a question that was

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as simple as what the color of the room was.

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He continued to argue, he was pleading the fifth on

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the advice of Council. It was an extreme, extremely tense hearing.

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Speaker 1: Yeah, yeah, the attorney was that was stupid because what

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he was trying to say, he said, was I wanted

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to let the committee know that the doctor Fouchi had

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the right to the Fifth Amendment. Well we all know that,

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mister attorney. It was pretty obvious right out of the gate.

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So you did not need to do that, and you

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did violate what the chairman of the committee said is

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you couldn't sit at the table with him. So it

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was everybody, everybody in this thing is just kind of

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like a capital jay jerk. In my opinion, Fauci, you

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can't trust him. Ran Paul is a hot heead. The

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attorney is just out of line. And that's what happened

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on That's what our lawmakers are, the leaders of our

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country are working on today in dc AH. But there's more, Yes,

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you ask, this is about Todd Blanche. So Todd Blanche

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wants to be the attorney general. They he went through

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the Judiciary Committee and had his hearing and everything else,

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and they're right down now to wear the vote on

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whether to go ahead and make him the nominee, to

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approve his nomination. That would then go on to the

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floor of the of the Senate, but the committee, since

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Lindsey Graham was one of the members of the committee,

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without him there, the Republicans have one vote majority over

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the Democrats. The Democrats are already said they're going to

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vote one hundred percent against Todd blanche to be the

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attorney general. On the Republican side, there's a problem. There's

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two members there that are well one member of the

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Judiciary Committee, and that would be John Cornyn. And John

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Cornyan was one of those who was rail wrote it

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by President Trump. He said, I want Ken Paxton instead

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of John Cornyn to I will, I will sponsor, I

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will give my emperador John to Ken Paxton for the

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Texas Senate nomination. And so Ken Paxton won and John

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Cornyn lost, which means he's done. At the end of

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this year, he is no longer a Senator and he

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goes home. So he has a bad chip on his

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shoulder for the president. And President Trump was warned at

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the time. John Cornyn is a very well liked senator

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on Capitol Hill, not only among Republicans but everybody. Apparently

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a super nice guy. Everybody likes him, so he got

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the shaft and a lot of senators don't like it. Well,

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one senator that doesn't like it is John Cornyn. And

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President Trump was told, you're going to need John Cornyn

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in your corner to get a lot of this stuff

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done that you want to get done. And the President

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ignored that advice and went for Ken Paxton. Well, this

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is where it's blowing back at the President. Cornan today

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was out in the hallway and there was a bunch

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of reporters that cornered him because the deadline for the

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Judiciary Committee to vote on whether to pass Todd Blanche's nomination. Well,

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the deadline was four o'clock this afternoon and the vote

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is supposed to take place tomorrow morning. But in the

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hallway here's John Cornyn saying, all I want from the

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Department of Justice is remember that weaponization built for one

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point eight billion dollars at the President wanted, and Todd

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Blanche wrote up that piece of legislation from one point

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eight billion dollars and the money was going to go

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to anybody who was treated badly by the government, but

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it was specifically for the Jan sixth people, and a

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lot of people in this country said no, no, that's

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too far. But it got publicity. And so there's Blanche

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testify and was asked about it, and he said, no,

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we've already dropped it. We're not going to do that

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anti weaponization bill. And he was asked a couple different

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ways by a couple different people, and he kept saying, no,

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it's dead, it's gone, it's over. Well, what John Cornyn

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wants is he wants that in writing. He doesn't trust

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President Trump, he doesn't trust Todd Blanche. He wants it

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in writing, and he wants it in writing before he

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will vote for Todd Blanche. So from there, let's pick

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up the conversation and in the hallway.

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Speaker 8: Todd Blanch is off. We made clear from the outset

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that we expected some written proposals to modify the release

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that was signed in the tax dispute with President Trump

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and his and his organization. It's clear President Trump was wronged. Obviously,

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the guy who leaked the information is now in prison

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violating the law. But the scope of the release is

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really the problem. And as you sought heard during the

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During the hearing, I asked him, for example, that is

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this intended to release people who are not parties to

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this lawsuit? He said no. I said, well the audit

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protection of about future audists. Is this intended to apply

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to anyone other than the parties to the lawsuit? And

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is it retroactive? He said yes, it's not. Does to

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provide prospective immunity from tax audits. And then third, I said,

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is this intended to apply to anyone other than the

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defendants and the lawsuit, which are the I R S

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and the Treasury and not other federal agencies? And he

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said yes. To me, it's pretty simple. They could state

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that in a modified release form and that would be

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responsive to my request. But for some reason, I don't

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know whether it's the staff of the DOJ or who

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it is, but they simply they know what they need

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to do, but they simply refuse to do it.

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Speaker 9: So are you a no?

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Speaker 1: Are you in no tomorrow? If it's come to a vote.

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Speaker 8: Well, Senator Grassi tells me that we need to know

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by four o'clock this afternoon whether the markup is still on,

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So we still got a little time and hopefully they

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now recognize the seriousness of this and will be be responded.

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Speaker 10: If it so stands as it is now, if it

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stands now, if it stands that it is now right now, would.

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Speaker 4: You vote no?

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Speaker 8: I'm not prepared to vote yes. Let me let me

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put it that.

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Speaker 11: Would you recommend did you recommend a Chairman Grass lead

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that tomorrow's vote is postponed to allow for more time

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for discussions?

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Speaker 8: We still got uh, we still got what about another

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five or six hours? That's plenty of learning. There's plenty

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of time to resolve this. But there's also a you know,

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there's no real need to have a meeting if they

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will just produce the documentation that we've requested and it's

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and that he testified to under oath during his hearing.

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Speaker 9: What was the proposal they submitted today?

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Speaker 1: What was this President?

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Speaker 6: Is that the Department of Justice did submit some records

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to today or some draft?

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Speaker 1: Is there a reason why what they submitted was not?

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Speaker 8: I haven't seen a single piece of writing that is

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responsive to whatever requestion.

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Speaker 1: What if they send you, what are they sent you?

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What are they sent you to you? At all? Have

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they communicated to you at all?

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Speaker 8: They've been there've been a lot of back and forth

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with my staff. I don't know whether it's just the

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reluctance of the DOJ staff to deal with this. You know,

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I'm uh so, I'm I'm open to it if they

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will just simply be responsible.

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Speaker 1: For you've you've been center.

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Speaker 10: Do you think the president has an issue with taking

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this off the table?

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Speaker 9: Some of the reporting that we have done indicates that

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the President really wanted this text deal, and so did

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his family.

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Speaker 1: Do you think ultimately this is an issue for.

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Speaker 8: Well, I can see I can see why he wants

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wants it because it provides immunity from audits that no

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other taxpayer could possibly get. And that's why we need

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to conform the actual document to what Todd blanche testiflied

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to do under.

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Speaker 1: Oath so you can see what's going on. He wants

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in writing what Todd blanz testified to that the one

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point eight billion dollar slush fund that would be used

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for the jan six people would be would he said,

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it's but he wants it in writing, and he also

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wants the fact that the president was going to get

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special treatment by not having any audits done by the

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IRS for anything in the past revolve regarding the Trump family,

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Trump Organization all that, and he wants that in writing too,

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and the Justice Department won't do it, which makes people think.

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And then the report, some of the reporters said, well,

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the President, apparently, behind closed doors, still wants that slush

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fund and still wants to be immune from audits. So

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even though Todd Blanche said that that's all been dropped,

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apparently the president is still pushing for it behind closed doors.

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So that's why John Cornyn wants it in writing. Besides

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that he's got a bone to pick with Donald Trump.

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And Trump was warned that this would be the problem

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if he did not endorse Cornyn for the Texas Senate nomination,

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and he did not, and now this is all blowing

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back on him. So a lot of theater today, and

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that's what people in Washington are wringing their hands about.

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The DSA. The Democrat Socialist of America I a little

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bit more on that. Today. We got the national co

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chair of the Democrat Socialist of America gave an interview

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and apparently it's having quite a bit of impact on people.

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Here's the Democrat Socialist of America co chairman.

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Speaker 11: Well, the Senate is an anachronistic institution. It comes from

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the British House of Lords. It is made to protect power.

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For you know, the Senate was part of the system

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that was made to make sure that the people didn't

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have too much of us. Say so, we want to

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expand Congress significantly, but make it a unicameral legislature.

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Speaker 1: Yeah, that's just one of the things they wanted to do.

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They wanted to do away with the the Senate. So

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John Kennedy, the Senator from Louisiana, was asked about her statement.

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Speaker 7: Well, I listened to the interview. My jaw is is

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still stuck on the floor. I guess it's not a

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news flash that the Graham Platner wing of the Democratic

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Party is in control.

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Speaker 1: Uh.

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Speaker 7: They seem to be concentrated in deep blue jurisdictions. They

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say things that would get them a psychiatric evaluation and

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the rest of the country. At first, I thought, well,

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these people are just misinformed, for they're the product of

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fifty years of high school civics being taught by football coaches.

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But then I realized there they're serious. They're serious as

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an aneurism. They want to, I don't know, kill all

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the millionaires, open all the prisons open, the mortars, defund

400
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the cops defund ice. Every single one of them knows

401
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the words to the Cuban national anthem.

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Speaker 1: Uh.

403
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Speaker 7: They're all socialists. Socialism, I think history is proven is

404
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for morons. Don't take my word for it. Just look

405
00:27:28,440 --> 00:27:34,680
at Cuba and Argentina before changes there, Venezuela, China, the

406
00:27:34,759 --> 00:27:40,480
old uss Are. I noticed that all of these neo socialists,

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they don't they don't want to go live in a

408
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socialist country. They want to live here. I think I

409
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just can't imagine them in charge of the United States

410
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of America. If these people ever do get in charge,

411
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we we we might as well, you know, turn out

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the lights and make sure the cats inside and go

413
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to bed because it's over.

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Speaker 1: That's John Kennedy classic about the Democrat socialists of America.

415
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The war is well, surprise, surprise, the pause. I guess

416
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it doesn't translate well the word pause into Farsi, because

417
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overnight last night the Iranians sent all kinds of missiles,

418
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five of them into Jordan. They were intercepted, thank goodness,

419
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but they're trying to hit US bases and they are

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They're going to keep on going on attacking us. We

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may not, the president may not want to continue military strikes,

422
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but Iran does. And the President Lake this afternoon made

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these comments about what we're doing. He thinks it's I

424
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don't get this at all. He thinks it's our turn

425
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to fire back.

426
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Speaker 10: So we had five rocket shot going eighty five hundred

427
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miles an hour, and all five rockets were knocked down

428
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to the ground, but they nevertheless took a shot. So

429
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it's our turn, and we'll see if we get there

430
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with an agreement at some point, but we're going to

431
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hit them very high.

432
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Speaker 1: Still looking for that agreement. I'm not looking for an agreement.

433
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I know I've gone total hawk on all this. I'm

434
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looking for taking out the regime. Now, there are reports

435
00:29:30,079 --> 00:29:33,680
that the attacks that they fired at us, we fired

436
00:29:33,720 --> 00:29:36,720
back at them, and that there may be some of

437
00:29:36,759 --> 00:29:40,319
the leaders of Iran that were taken out in our

438
00:29:40,920 --> 00:29:45,440
response to their attack. Not only was it U was

439
00:29:45,559 --> 00:29:51,440
but also the Saudis were involved in attacking back. And

440
00:29:52,519 --> 00:29:57,160
there was a location in a rock where some of

441
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these Iranian missiles are being launched from. So they have

442
00:30:01,359 --> 00:30:05,960
some operation in the country of Iraq and that now

443
00:30:06,000 --> 00:30:09,880
has been involved. So is the war spreading Saudi Arabia,

444
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Iraq in addition to Israel, the US and Iran and

445
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who knows where else next. So stand by because the

446
00:30:19,200 --> 00:30:23,759
president says it's our turn. This isn't. He doesn't have

447
00:30:24,599 --> 00:30:30,960
a war mentality. He just doesn't. It's I don't know

448
00:30:30,960 --> 00:30:32,559
what you want to call it, but it is not

449
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a warrior mentality. And that's not him. It just isn't.

450
00:30:37,240 --> 00:30:39,440
But I know there's a bunch of warriors that are

451
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working for him, that are going crazy. Here's Admiral Robert

452
00:30:43,640 --> 00:30:46,319
Harward reacting to all of this.

453
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Speaker 9: How didnthor You're seeing the pressure build on Iran on

454
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all fronts in this attack, but you're also seeing up

455
00:30:54,039 --> 00:30:58,240
in Lebanon, you see the Lebanese government making an agreement

456
00:30:58,319 --> 00:31:01,920
with Israel to undermine and try to get rid of Hezbala.

457
00:31:02,440 --> 00:31:06,000
You've seeing the British rolling contribute ships to the blockade.

458
00:31:06,160 --> 00:31:09,240
You've seeing other countries rolling to go after the Huthis.

459
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So the pressure's building tremendously in Iran and you're so

460
00:31:14,079 --> 00:31:16,480
to see some of the breaking points there and the

461
00:31:16,519 --> 00:31:20,799
executions in Isfahan yesterday the people came out to protest

462
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and they had to shoot him death to prevent them

463
00:31:23,720 --> 00:31:27,880
from overwhelming the execution team. So the pressure in Iran

464
00:31:28,039 --> 00:31:30,680
is building and we could see a tipping point coming

465
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here on the not too distant future.

466
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Speaker 1: So very optimistic military man who thinks that this is

467
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all going to come to fruition, Well, Wall Street, I

468
00:31:43,160 --> 00:31:45,599
tried to hold off. I told you that there's a

469
00:31:45,599 --> 00:31:47,839
whole bunch going on. First of all, the fact that

470
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the war has all of a sudden picked up. That

471
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led the market lower right out of the gate this morning.

472
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We were down a couple of hundred points, and then

473
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the Fed came out and said we're not going to

474
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make any change in infrast rates, and that caused a

475
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huge sell off. The Dow finished down one thousand, one

476
00:32:12,240 --> 00:32:16,359
hundred and fifty three points to fifty one thousand and

477
00:32:16,400 --> 00:32:19,319
five ninety four, the S and P down one hundred

478
00:32:19,359 --> 00:32:22,799
and twelve, the Nasdaq down four hundred and thirty three.

479
00:32:23,400 --> 00:32:26,319
The price of gold up twelve dollars to four thousand

480
00:32:26,319 --> 00:32:30,759
and fifty one, and oil going back up again. Once

481
00:32:30,799 --> 00:32:34,119
you start shooting back and forth, oil price is up

482
00:32:34,240 --> 00:32:38,480
five dollars and fifty cents, just about eighty five dollars

483
00:32:38,559 --> 00:32:42,839
now for one barrel of West Texas Intermediate. So that's

484
00:32:42,880 --> 00:32:45,279
it for today. Thank you for coming by. We will

485
00:32:45,319 --> 00:32:47,720
be back tomorrow. I hope to see you then