1 00:00:21,600 --> 00:00:27,039 Speaker 1: And Hello, how are you happy Monday? Welcome to the 2 00:00:27,079 --> 00:00:31,280 Big Podcast. I'm Tom Sullivan. It's Monday, the twenty eighth 3 00:00:31,399 --> 00:00:35,479 day of July. Year of Our Lord, twenty twenty five. 4 00:00:35,719 --> 00:00:39,560 My name, Yeah, I told you my name, keep repeating it. 5 00:00:40,759 --> 00:00:45,039 So it's a fairly busy Monday. I know we're in, 6 00:00:45,119 --> 00:00:48,240 you know, the dregs of July, but we still have 7 00:00:49,399 --> 00:00:51,759 still a very busy news cycle going for the month 8 00:00:51,799 --> 00:01:01,920 of July. We've got Russia, Ukraine, President Trump making what 9 00:01:02,079 --> 00:01:07,799 appears to be a dramatic change in US policy regarding 10 00:01:08,040 --> 00:01:13,400 Russia and Ukraine. We have Gaza and the fact that 11 00:01:13,439 --> 00:01:17,840 they're still there's no peace deal, and over the weekend 12 00:01:18,599 --> 00:01:23,000 they just walked away and so the United States and 13 00:01:23,200 --> 00:01:28,159 Israel said okay, we're not going to continue this charade. 14 00:01:28,680 --> 00:01:33,480 So that's changing as well. The trade deals. Over the weekend, 15 00:01:33,519 --> 00:01:36,159 the President's over in Scotland and he's cutting trade deals 16 00:01:36,239 --> 00:01:39,840 right and left a huge one with one of our 17 00:01:39,840 --> 00:01:43,799 biggest trading partners in the world, is the European Union, 18 00:01:43,920 --> 00:01:45,599 and they cut a deal with that. So we'll get 19 00:01:45,599 --> 00:01:50,599 into that because it's fascinating to see the deal that 20 00:01:50,760 --> 00:01:53,560 was cut. Well, else we got Russia Gate. We've got 21 00:01:53,560 --> 00:01:58,840 oh yeah, we've got the latest update on Julaine Maxwell 22 00:01:58,920 --> 00:02:03,799 and all of those stories. But let's start with Russia 23 00:02:03,799 --> 00:02:06,239 and Ukraine and the guy I like to go to 24 00:02:06,400 --> 00:02:08,800 all the time when we talk about military things like 25 00:02:08,840 --> 00:02:14,840 this is about General Jack Keen, who weighed in on 26 00:02:15,280 --> 00:02:19,800 exactly what is going on because the President today, well 27 00:02:19,840 --> 00:02:23,000 we'll play it for you here, but the President has 28 00:02:23,039 --> 00:02:27,599 made a dramatic shift in his approach to Russia Ukraine war. 29 00:02:28,400 --> 00:02:33,159 Speaker 2: I'm disappointed, and President Putin very disappointed at him. So 30 00:02:33,199 --> 00:02:34,840 we're going to have to look and I'm going to 31 00:02:34,879 --> 00:02:36,960 reduce that fifty days that I gave him to a 32 00:02:37,039 --> 00:02:39,840 lesser number because I think I already know the answer 33 00:02:39,840 --> 00:02:40,639 what's going to happen. 34 00:02:41,280 --> 00:02:43,560 Speaker 1: Yeah, and that lesser number is now he's talking about 35 00:02:43,560 --> 00:02:46,919 ten to twelve days for Russia to come to the 36 00:02:47,000 --> 00:02:53,319 table regarding the ceasefire agreement or what General Jack Keen 37 00:02:53,479 --> 00:02:55,520 to go over the or what part. 38 00:02:56,479 --> 00:02:58,560 Speaker 3: I mean when it comes to Putin here, I think 39 00:02:59,159 --> 00:03:02,319 the President exhibit unbelievable patients really and trying to work 40 00:03:02,360 --> 00:03:07,120 something out diplomatically, and obviously he's frustrated. Putin wanted him 41 00:03:07,120 --> 00:03:10,240 to be frustrated, but Putin was calculating that Trump would 42 00:03:10,240 --> 00:03:14,159 maybe walk away and not support Ukraine. Quite the opposite 43 00:03:14,199 --> 00:03:16,840 has taken place, so we're moving. The President has come 44 00:03:16,879 --> 00:03:20,280 to the conclusion that diplomacy is failing and he's willing 45 00:03:20,280 --> 00:03:23,759 to turn towards confrontation, so he's strengthening the Ukraine's ability 46 00:03:23,800 --> 00:03:28,439 to defend itself. Meanwhile, all during these negotiations, Putin actually 47 00:03:28,599 --> 00:03:33,879 escalated the war, particularly against the civilians in Ukraine, hitting 48 00:03:33,919 --> 00:03:36,800 those major cities. Our audience has seen that every single day, 49 00:03:36,879 --> 00:03:41,000 sometimes hundreds of drones and very accurate ballistic missiles which 50 00:03:41,039 --> 00:03:46,280 cause casualties, so increasing Ukraine's ability to defend against that. 51 00:03:46,439 --> 00:03:49,039 It goes unmentioned at times because you have a tendency 52 00:03:49,080 --> 00:03:52,080 to talk about what's happening on the battlefield. Over thirteen 53 00:03:52,120 --> 00:03:55,639 thousand Ukrainian citizens died in this war, and Putin is 54 00:03:55,680 --> 00:03:58,639 committing a war crime every single day when he targets 55 00:03:58,639 --> 00:04:02,680 civilians with no military time, ougously or whatsoever. So the 56 00:04:02,759 --> 00:04:07,400 major inflection point has taken place confrontation, strengthening Ukraine's ability 57 00:04:07,439 --> 00:04:12,759 to defend and also looks like in several days we'll 58 00:04:13,080 --> 00:04:17,160 find ourselves with secondary sanctions being imposed on Russia. They 59 00:04:17,199 --> 00:04:20,800 already have serious economic issues and this will add to that. 60 00:04:20,959 --> 00:04:23,399 Does that get them back to the negotiating table, We 61 00:04:23,480 --> 00:04:26,959 don't know, but we know what has not worked, and 62 00:04:27,040 --> 00:04:29,839 diplomacy hasn't worked, and so give this a try. 63 00:04:30,199 --> 00:04:30,360 Speaker 1: Well. 64 00:04:30,399 --> 00:04:34,079 Speaker 3: I think he had two objectives here. One certainly is 65 00:04:34,120 --> 00:04:37,519 to break the will of the United States willingness to 66 00:04:37,560 --> 00:04:40,800 support Ukraine, and also for the Europeans, and quite the 67 00:04:40,839 --> 00:04:46,199 opposite has taken place when our negotiating team, President Trump's 68 00:04:46,199 --> 00:04:48,680 team met with the Europeans in Rome a week or 69 00:04:48,680 --> 00:04:51,160 so ago. They came out of that meeting and the 70 00:04:51,160 --> 00:04:54,199 Europeans were very clear, this is not a money issue 71 00:04:54,199 --> 00:04:56,839 for us. We're going to pay whatever it costs to 72 00:04:56,920 --> 00:04:58,759 take care of Ukraine, and we're going to purchase the 73 00:04:58,800 --> 00:05:01,720 weapons from the United States and do this. So they 74 00:05:01,759 --> 00:05:05,000 are really all in here, and where the President is, 75 00:05:05,079 --> 00:05:07,720 he's all in as well. Putin has got to be 76 00:05:07,800 --> 00:05:11,439 taking notice of that. He wanted to undermine our resolve 77 00:05:11,519 --> 00:05:14,199 in the Europeans, and he certainly wanted to break the 78 00:05:14,240 --> 00:05:17,920 will of the Ukrainian people to put more pressure on 79 00:05:18,079 --> 00:05:22,079 Zelensky so he would make major concessions. Big picture, Putin 80 00:05:22,120 --> 00:05:25,360 has been at war for forty one months. He still 81 00:05:25,399 --> 00:05:29,879 hasn't taken significant territory in Ukraine. His presidency as is 82 00:05:29,920 --> 00:05:35,079 at stake, and he wants those concessions being made by Zelensky, 83 00:05:35,120 --> 00:05:37,120 and he wanted them to be supported by the President 84 00:05:37,160 --> 00:05:40,040 of the United States. It is not happening. So he 85 00:05:40,079 --> 00:05:43,240 has to begin to rethink where is he and how 86 00:05:43,360 --> 00:05:46,000 much stake is he going to continue to risk his 87 00:05:46,079 --> 00:05:48,199 presidency by this involvement. 88 00:05:48,920 --> 00:05:52,120 Speaker 4: Other headlines with another major news story. First of all, 89 00:05:52,160 --> 00:05:54,000 we didn't even get too much into it, but Thailand 90 00:05:54,000 --> 00:05:56,680 and Cambodia, we're going to go at it. They were 91 00:05:56,680 --> 00:05:58,600 about to go to war. President Trump announced at the 92 00:05:58,600 --> 00:06:01,399 beginning of that press conference. They got involved, and now 93 00:06:01,439 --> 00:06:03,879 we have an immediate ceasefire and an agreement to just 94 00:06:03,959 --> 00:06:06,759 hold fire there in Thailand and Cambodia at that border. 95 00:06:07,199 --> 00:06:09,240 But the other war, that's I don't know if it's 96 00:06:09,279 --> 00:06:10,800 forty one months, I can't quite do the math. But 97 00:06:10,839 --> 00:06:14,120 since October seventh, you have Israel against Hamas, you have 98 00:06:14,240 --> 00:06:18,560 actually against Hezbola, the Seven Front war. Over the weekend, 99 00:06:19,240 --> 00:06:24,519 there were increasing numbers of media stories about Gazin's starvation 100 00:06:25,319 --> 00:06:28,079 and in just in the last hour while he was speaking, 101 00:06:28,480 --> 00:06:31,240 it come to find out that some of these photographs 102 00:06:31,759 --> 00:06:35,319 of children starving turned out not to be children starving, 103 00:06:35,319 --> 00:06:38,680 but children dinosistic fibrosis in Italy for example. So the 104 00:06:38,759 --> 00:06:43,519 media in some cases exasperating it. But President Trump said 105 00:06:43,639 --> 00:06:46,920 he's seen for himself there is some starvation going on, 106 00:06:47,040 --> 00:06:50,399 and he said that the United States will get involved somehow. 107 00:06:50,879 --> 00:06:53,680 He didn't detail it, but apparently that's to come to 108 00:06:53,720 --> 00:06:56,439 try to get more food into Gaza. What can you 109 00:06:56,439 --> 00:06:57,120 tell us about that? 110 00:06:57,279 --> 00:06:59,519 Speaker 3: Yeah, well, I think these vellys have maintained from the 111 00:06:59,560 --> 00:07:04,079 outset that the humanitarian crisis. They're not suggesting it doesn't exist, 112 00:07:04,120 --> 00:07:06,879 but they believe it's been exaggerated, and you have concrete 113 00:07:06,879 --> 00:07:10,879 examples of some of that exaggeration. But I think depending 114 00:07:10,920 --> 00:07:13,959 the rose here on who's responsible. I mean, well, over 115 00:07:14,000 --> 00:07:18,560 a month ago, negotiations began with Hamas and Israelis to intermediaries, 116 00:07:19,120 --> 00:07:22,800 and Hamas just walked away from that. They wouldn't cut 117 00:07:22,800 --> 00:07:25,079 a deal. And the reason they're not cutting the deal, 118 00:07:25,199 --> 00:07:30,959 President is actually right, twenty odd hostages left. They took 119 00:07:31,000 --> 00:07:34,319 these hostages at the very end that ensure their own survival, 120 00:07:34,319 --> 00:07:37,279 the survival of the leaders, and that's kind of where 121 00:07:37,279 --> 00:07:39,519 we are now, and I think that's why they stiffed 122 00:07:39,560 --> 00:07:44,279 the negotiators and we don't have this humanitarian crisis if 123 00:07:44,319 --> 00:07:46,920 they were able to go to a ceasefire some five 124 00:07:47,000 --> 00:07:49,759 or six weeks ago, and obviously that food would start 125 00:07:49,800 --> 00:07:52,399 to flow. Where we are in humanitarian relief Saturday, two 126 00:07:52,480 --> 00:07:57,639 hundred and fifty trucks. Israelis are stopping any hostility for 127 00:07:57,680 --> 00:07:59,839 ten hours a day to permit these trucks to get 128 00:07:59,839 --> 00:08:03,319 in there in much larger quantities. They normally average six 129 00:08:03,360 --> 00:08:06,399 hundred a day when things are flowing properly. So I 130 00:08:06,399 --> 00:08:09,920 think this crisis that we're in will get some relief 131 00:08:09,959 --> 00:08:14,199 here this week, quite dramatic relief. But the major problem 132 00:08:14,519 --> 00:08:18,360 is still there. Hamas is still there. There's thousands of fighters, 133 00:08:18,399 --> 00:08:21,800 a lot of teenagers now carrying guns, but they're committed 134 00:08:21,879 --> 00:08:24,519 to kill as many Israeli troops as they possibly can. 135 00:08:24,839 --> 00:08:29,000 Twenty hostages remain, thirty deceased remain, So the same problem 136 00:08:29,079 --> 00:08:31,519 is still there. That's the challenge ahead. How do you 137 00:08:31,600 --> 00:08:35,519 manage that problem, defeat Hamas and still get the hostages 138 00:08:35,519 --> 00:08:38,159 out alive. That is a tough tough equation. 139 00:08:38,600 --> 00:08:42,240 Speaker 1: So President Trump has, like I said, I think a 140 00:08:42,320 --> 00:08:45,000 one point eighty. It looked like he was really supporting 141 00:08:45,080 --> 00:08:50,679 Russia and Putin trying to cajole them and get Ukraine 142 00:08:50,799 --> 00:08:54,000 to basically throw into talent. Now he's turning around. It 143 00:08:54,039 --> 00:08:57,279 looks like he is totally supporting Ukraine and he is 144 00:08:57,320 --> 00:09:02,679 not happy with Vladimir Putin. So sanctions are coming ten 145 00:09:02,720 --> 00:09:05,159 to twelve days. We don't know what they're going to be. 146 00:09:06,039 --> 00:09:09,200 I don't think they really work all that well, so 147 00:09:09,320 --> 00:09:11,600 we'll see just how tough they are. And the secondary 148 00:09:11,639 --> 00:09:16,840 sanctions is where we put sanctions on India and China 149 00:09:16,919 --> 00:09:20,600 for buying oil from Russia, which gives them money to 150 00:09:20,679 --> 00:09:24,440 continue their war and keep their economy going. But we 151 00:09:24,559 --> 00:09:27,759 want to do deals with China and India, So, like 152 00:09:28,080 --> 00:09:31,240 General Keane said, we are in a bit of a 153 00:09:31,320 --> 00:09:37,200 jam on that. The General also was asked about Gaza, 154 00:09:37,919 --> 00:09:42,120 the fact that Gaza the Hamas has walked away from 155 00:09:42,159 --> 00:09:46,039 peace deal after peace deal after peace deal. They know 156 00:09:46,399 --> 00:09:49,919 the strength is what works with them, and this is 157 00:09:50,440 --> 00:09:55,000 diplomatic stuff. Diplomatic talks are not working. So back to 158 00:09:55,120 --> 00:09:59,440 General Keen on his observations about what's going on in 159 00:10:00,120 --> 00:10:02,240 Maas Gaza, Israel. 160 00:10:02,440 --> 00:10:04,759 Speaker 3: Yeah, well, I think these vllleys have maintained from the 161 00:10:04,799 --> 00:10:09,279 outset that the humanitarian crisis. They're not suggesting it doesn't exist, 162 00:10:09,320 --> 00:10:12,080 but they believe it's been exaggerated, and you have concrete 163 00:10:12,080 --> 00:10:16,120 examples of some of that exaggeration. But I think depending 164 00:10:16,120 --> 00:10:19,159 the rose here on who's responsible. I mean, well, over 165 00:10:19,200 --> 00:10:22,679 a month ago, negotiations began with Hamas and the Israelis 166 00:10:22,679 --> 00:10:27,240 to intermediaries, and Hamas just walked away from that. They 167 00:10:27,320 --> 00:10:29,960 wouldn't cut a deal. And the reason they're not cutting 168 00:10:29,960 --> 00:10:35,399 the deal President is actually right, twenty odd hostages left. 169 00:10:35,720 --> 00:10:38,480 They took these hostages at the very end that ensure 170 00:10:38,480 --> 00:10:41,879 their own survival, the survival of the leaders, and that's 171 00:10:41,919 --> 00:10:43,919 kind of where we are now. And I think that's 172 00:10:43,919 --> 00:10:47,440 why they stiffed the negotiators and we don't have this 173 00:10:47,559 --> 00:10:50,440 humanitarian crisis if they were able to go to a 174 00:10:50,519 --> 00:10:54,200 ceasefire some five or six weeks ago, and obviously that 175 00:10:54,279 --> 00:10:56,679 food would start to flow. Where we are in humanitarian 176 00:10:56,720 --> 00:11:01,000 relief Saturday, two hundred and fifty trucks. Israelis are stopping 177 00:11:01,080 --> 00:11:04,480 any hostility for ten hours a day to permit these 178 00:11:04,480 --> 00:11:07,480 trucks to get in there in much larger quantities. They 179 00:11:07,519 --> 00:11:10,960 normally average six hundred a day when things are flowing properly. 180 00:11:11,320 --> 00:11:14,360 So I think this crisis that we're in, we'll get 181 00:11:14,480 --> 00:11:18,360 some relief here this week, quite dramatic relief. But the 182 00:11:18,480 --> 00:11:22,559 major problem is still there. Hamas is still there. There's 183 00:11:22,600 --> 00:11:25,519 thousands of fighters, a lot of teenagers now carrying guns, 184 00:11:25,559 --> 00:11:28,639 but they're committed to kill as many of Israeli troops 185 00:11:28,639 --> 00:11:32,559 as they possibly can. Twenty hostages remain, thirty deceased remain, 186 00:11:33,039 --> 00:11:36,360 So the same problem is still there. That's the challenge ahead. 187 00:11:36,360 --> 00:11:39,879 How do you manage that problem, defeat Hamas and still 188 00:11:39,879 --> 00:11:43,360 get the hostages out alive. That is a tough, tough equation. 189 00:11:44,559 --> 00:11:47,639 Speaker 1: It is a tough equation. And the business about the starvation, yes, 190 00:11:47,679 --> 00:11:50,559 they're starvation going on, but there's also been as you 191 00:11:50,639 --> 00:11:54,200 get in all Wars propaganda, some of the photos and 192 00:11:54,360 --> 00:11:59,600 videos of children starving were actually from children suffering from 193 00:11:59,679 --> 00:12:03,799 system fibrosis in Italy, and they included that in some 194 00:12:03,879 --> 00:12:10,720 of the propaganda regarding the children's suffering. Brett McGirk, he's 195 00:12:10,720 --> 00:12:15,720 worked for the four previous presidents on these matters. This 196 00:12:15,799 --> 00:12:18,639 is his take on what's going on with Pamas. 197 00:12:19,039 --> 00:12:21,519 Speaker 5: Well, if it's a dramatic shift, it's only in February 198 00:12:21,519 --> 00:12:24,200 when the President came in that he was berating Zelensky, 199 00:12:24,279 --> 00:12:27,360 kind of blaming the Ukrainians for prolonging the war. He's 200 00:12:27,399 --> 00:12:30,240 now completely shifted policy. I think it's right. You know, 201 00:12:30,279 --> 00:12:33,799 sometimes a new administration has to go through trying how 202 00:12:33,799 --> 00:12:37,320 they think things should go, and then when reality bites, 203 00:12:37,360 --> 00:12:39,600 the real world intervenes. You know, Putin is still Putin 204 00:12:40,200 --> 00:12:43,120 and now you see a shift. It's quite significant. Big 205 00:12:43,200 --> 00:12:46,519 question though President Trump does he stick to it. I 206 00:12:46,519 --> 00:12:49,320 think it's time for those secondary sanctions. There's a massive 207 00:12:49,399 --> 00:12:52,679 bipartisan consensus, as you know, in the Congress for this bill, 208 00:12:52,720 --> 00:12:55,039 which has been pending. Very few issues like this in 209 00:12:55,120 --> 00:12:58,080 Washington right now. So President has that political win that 210 00:12:58,240 --> 00:13:00,639 is back, and I think it's the only way to 211 00:13:00,639 --> 00:13:03,039 bring this war to a close is to demonstrate to 212 00:13:03,080 --> 00:13:05,759 Putin that the course he's on is not going to 213 00:13:05,799 --> 00:13:09,039 lead to his objectives and he's suffering badly, and hopefully 214 00:13:09,039 --> 00:13:11,600 they can get something done. You've been covering this for 215 00:13:11,600 --> 00:13:13,840 two years. He's all in, he wants to subject at Ukraine, 216 00:13:13,960 --> 00:13:16,080 but he's also he suffered as a president said today, 217 00:13:16,080 --> 00:13:19,080 He's right. They've taken a million military casualties, about two 218 00:13:19,159 --> 00:13:22,039 hundred and fifty thousand or so dead Russians in this war. 219 00:13:22,960 --> 00:13:25,759 That is only sustainable for so long. His economy is suffering, 220 00:13:26,039 --> 00:13:28,279 and you know these sanctions can bite. But looks this 221 00:13:28,320 --> 00:13:31,080 is going to take time. And I noticed that President 222 00:13:31,120 --> 00:13:33,279 Trump's on boy, Steve Wikoff, said it might take until 223 00:13:33,759 --> 00:13:36,559 twenty nine to ultimately resolve this conflict. We don't want 224 00:13:36,559 --> 00:13:38,360 to wait that long. But the only way to resolve 225 00:13:38,399 --> 00:13:42,120 it is to demonstrate that the United States and our 226 00:13:42,159 --> 00:13:44,679 allies have the back of the Ukrainians and that Putin 227 00:13:44,720 --> 00:13:46,200 is not going to have free reign. Yeah, a lot 228 00:13:46,200 --> 00:13:49,759 of presidents come in thinking that they can. Eisenhower said, 229 00:13:49,759 --> 00:13:51,240 I'm going to go to Korea, and the Korean War 230 00:13:51,440 --> 00:13:53,600 actually took him almost six to seven months. That war 231 00:13:53,679 --> 00:13:56,759 is still not formally ended. Nixon said, I got a 232 00:13:56,759 --> 00:13:59,159 way to secret plan to en Vietnam. Spent his whole 233 00:13:59,200 --> 00:14:01,399 first term as gleading the war. So a lot of 234 00:14:01,440 --> 00:14:04,320 presidents come in with very high et spectations. And again, 235 00:14:04,440 --> 00:14:07,000 the world is the world, Putin's Putin. Iran is Iran, 236 00:14:07,480 --> 00:14:09,759 and you have to adjust what I see the president 237 00:14:09,759 --> 00:14:12,399 here is taking ownership of a new approach again. He's 238 00:14:12,440 --> 00:14:15,840 got bipartisan support at his back in Congress, and I 239 00:14:15,840 --> 00:14:16,799 think it's the right approach. 240 00:14:17,039 --> 00:14:22,600 Speaker 2: I will say that Iran, I think he interjected themselves 241 00:14:22,600 --> 00:14:25,879 in this last negotiation. Can you imagine the beating they took. 242 00:14:26,480 --> 00:14:29,759 We wiped out their nuclear possibilities. They can start again. 243 00:14:30,360 --> 00:14:32,399 If they do, we'll wipe it out faster. Then you 244 00:14:32,440 --> 00:14:36,879 can wave your finger at it. We'll have to do that. 245 00:14:36,960 --> 00:14:41,480 We will do that gladly, openly and gladly. They've been saying. 246 00:14:41,720 --> 00:14:43,639 Iran's been sending out bad signals. 247 00:14:43,919 --> 00:14:46,960 Speaker 1: So the sanctions will they work? Steve Moore, who was 248 00:14:47,000 --> 00:14:50,879 an economic advisor to President Trump and Trump one point zero, 249 00:14:51,559 --> 00:14:54,559 These are his thoughts regarding sanctions on Russia. 250 00:14:55,240 --> 00:14:58,799 Speaker 6: What Trump is doing with respect to these foreign policy 251 00:14:58,879 --> 00:15:02,720 moves is exactly what he has done so successfully with 252 00:15:02,879 --> 00:15:06,799 trade deals. He is exerting America's muscle and flexing our 253 00:15:06,879 --> 00:15:10,799 muscle and forcing countries to do things that are in 254 00:15:10,919 --> 00:15:13,720 America's interest and in the interests of the whole world. 255 00:15:13,919 --> 00:15:17,480 So the situation with Russia is very simple when it 256 00:15:17,519 --> 00:15:21,759 comes to their economy, Harris, their entire economy is dependent 257 00:15:22,159 --> 00:15:26,799 on selling their oil and gas, and it's also dependent 258 00:15:26,840 --> 00:15:29,759 on being able to sell things to the United States 259 00:15:29,799 --> 00:15:33,399 in our twenty trillion dollar consumer market. And Trump is saying, look, 260 00:15:33,440 --> 00:15:36,200 you're going to lose access to that. We are going 261 00:15:36,279 --> 00:15:39,799 to keep out your oil and gas in ways that 262 00:15:39,879 --> 00:15:43,159 will really hurt their economy. And I believe this will 263 00:15:43,159 --> 00:15:45,759 be a successful strategy. In other words, I think he's 264 00:15:45,759 --> 00:15:49,080 going to drag Vladimir put into the negotiating cable justice. 265 00:15:49,159 --> 00:15:53,240 He's done with trade and say stop and assistant Ukraine, 266 00:15:54,960 --> 00:15:57,320 let's get a peace deal. But there's something else we 267 00:15:57,399 --> 00:15:59,440 can do that Trump is already doing. But he can 268 00:15:59,480 --> 00:16:02,519 turn this bigots on here in the United States. Every 269 00:16:02,600 --> 00:16:06,159 time we produce an additional barrel of oil here in 270 00:16:06,159 --> 00:16:08,639 the United States or non natural gas. Who do you 271 00:16:08,679 --> 00:16:10,919 think is hurt the most by that? Russia is. 272 00:16:11,679 --> 00:16:14,559 Speaker 1: So that brings up the big trade deal over the weekend. 273 00:16:14,600 --> 00:16:19,120 Like I said, the European Union, which is so fractionalized, 274 00:16:19,279 --> 00:16:21,279 it's very hard to get a deal with them, But 275 00:16:21,360 --> 00:16:25,720 they did it over the weekend, and it's strange. The 276 00:16:25,879 --> 00:16:31,240 announcement is is that Europe will pay a fifteen percent, Well, 277 00:16:31,360 --> 00:16:33,759 we will pay when we buy things from Europe a 278 00:16:33,840 --> 00:16:37,879 fifteen percent tariff on their products, which is going to 279 00:16:37,960 --> 00:16:43,159 meet make European products more expensive. If you attack something more, 280 00:16:43,240 --> 00:16:46,799 you get less of it. That Europe will also invest 281 00:16:47,080 --> 00:16:51,759 six hundred billion dollars above their current level of investing 282 00:16:52,480 --> 00:16:54,840 here in the US, and they will buy seven hundred 283 00:16:54,840 --> 00:16:58,320 and fifty billion dollars worth of the US energy. Well, 284 00:16:58,440 --> 00:17:02,919 that's strategically smart because of the fact that Europe when 285 00:17:02,919 --> 00:17:07,240 winter time comes and Russian oil isn't available, they will 286 00:17:07,279 --> 00:17:10,559 get US energy and that will help them in many, 287 00:17:10,599 --> 00:17:14,640 many ways. They've been doing that anyway. Pharma, big pharma. 288 00:17:14,720 --> 00:17:16,680 That is not part of this deal. There's a lot 289 00:17:16,680 --> 00:17:21,440 of pharmaceutical companies, especially in Ireland that are part of 290 00:17:21,480 --> 00:17:25,559 the European Union, and Donald Trump wants to bring those 291 00:17:26,000 --> 00:17:30,079 pharmaceutical companies back to the US. So this is not 292 00:17:30,200 --> 00:17:32,279 part of the deal. And the President said he's going 293 00:17:32,319 --> 00:17:36,559 to announce whatever the pharmaceutical deal is within a very 294 00:17:36,559 --> 00:17:42,599 short order. You've got Novo Nordisk, which they make ozempic 295 00:17:42,680 --> 00:17:45,079 and a bunch of other things like that. They're huge 296 00:17:45,119 --> 00:17:48,559 pharmaceutical company. They're out of Denmark, so those still have 297 00:17:48,640 --> 00:17:53,640 to be worked out. European auto stocks today they dropped 298 00:17:53,759 --> 00:17:57,799 sharply on Wall Street because if they're going to cost more, 299 00:17:57,960 --> 00:18:01,680 will the sales drop off? Right now? Pays well, prior 300 00:18:01,759 --> 00:18:05,920 to April Second Liberation Day, they were paying a tariff 301 00:18:05,920 --> 00:18:08,680 of one point two percent, So now they're going to 302 00:18:08,799 --> 00:18:14,279 fifteen percent. And this is the part that I don't know. 303 00:18:14,839 --> 00:18:17,319 It doesn't make sense to me that somehow they're going 304 00:18:17,400 --> 00:18:20,680 to let us send our products to the European Union 305 00:18:20,960 --> 00:18:24,839 with no tariffs. Why would we charge them fifteen and 306 00:18:24,920 --> 00:18:28,119 they charge us nothing. It doesn't seem like that will 307 00:18:28,200 --> 00:18:33,799 last all that long. Back to Steve Moore on his 308 00:18:34,000 --> 00:18:35,759 thoughts about this European deal. 309 00:18:37,200 --> 00:18:39,680 Speaker 6: A big deal indeed, And as you know, I've been 310 00:18:39,759 --> 00:18:42,720 kind of a skeptic of this approach because I don't 311 00:18:42,799 --> 00:18:44,880 like terriffs. But I have to say, I mean, you 312 00:18:44,920 --> 00:18:47,720 look at what Trump has done one country after another, 313 00:18:47,759 --> 00:18:51,279 whether it's Canada, whether it's Japan, Korea, China. Well, I 314 00:18:51,279 --> 00:18:53,039 want to see the fine print on the China deal 315 00:18:53,039 --> 00:18:55,640 because I don't trust the Chinese. But now if you 316 00:18:55,759 --> 00:18:59,000 get the big plumb here, which is the European Union, 317 00:18:59,079 --> 00:19:00,920 I would have thought that this would have been the 318 00:19:00,960 --> 00:19:04,000 toughest one to get because the Europeans are protectionists. They 319 00:19:04,039 --> 00:19:10,000 discriminate against American technology products, they discriminate against our agriculture products, 320 00:19:10,000 --> 00:19:14,039 our automobiles. So this is huge for American workers in 321 00:19:14,039 --> 00:19:14,920 the American economy. 322 00:19:14,920 --> 00:19:16,039 Speaker 1: Now again, I want. 323 00:19:15,880 --> 00:19:17,880 Speaker 6: To see the deal. I want to see the fine print, 324 00:19:18,160 --> 00:19:21,559 because you know, I don't know whether these countries will actually, 325 00:19:22,559 --> 00:19:25,119 you know, they'll agree to the deal, but whether they 326 00:19:25,160 --> 00:19:29,559 will action, you know, follow through with it, we will see. 327 00:19:29,559 --> 00:19:30,559 Speaker 7: But this is this is. 328 00:19:30,680 --> 00:19:34,079 Speaker 6: Incidentally, this is freer and fairer trade. I'm a free 329 00:19:34,079 --> 00:19:37,359 trade guy. What if Trump is doing is leveraging down 330 00:19:37,839 --> 00:19:40,920 all the terrorists around the world, that's a great outcome 331 00:19:40,920 --> 00:19:41,599 for everyone. 332 00:19:42,400 --> 00:19:45,920 Speaker 1: So that's going forward. And the other one that started 333 00:19:45,960 --> 00:19:49,480 today is well shouldn't start they start? They continue today. 334 00:19:50,240 --> 00:19:54,519 China and the unit United States, led by Secretary of 335 00:19:54,599 --> 00:19:58,799 the Treasury Scott Bessont. They are in Stockholm, Sweden today 336 00:19:59,200 --> 00:20:03,480 trying to cut a trade deal with China. Mark Stewart, 337 00:20:03,519 --> 00:20:09,759 who is in Beijing, has this observation about China doing 338 00:20:09,799 --> 00:20:10,759 business with the US. 339 00:20:10,920 --> 00:20:14,079 Speaker 8: Indeed, China is entering this with a point of strength, 340 00:20:14,079 --> 00:20:16,599 and it really has three things working in his favor. 341 00:20:16,680 --> 00:20:20,799 Number one rare earth minerals. America wants them, China has 342 00:20:20,839 --> 00:20:23,559 a hold on them. These are substances that are used 343 00:20:23,599 --> 00:20:27,400 to make everything from electronics to lights, to electronic vehicles, 344 00:20:27,720 --> 00:20:32,079 electric vehicles. I should say Number two the Chinese economy. 345 00:20:32,160 --> 00:20:36,519 While some economists may give the recent economic data a 346 00:20:36,559 --> 00:20:40,359 second look right now, it shows that it's performing better 347 00:20:40,480 --> 00:20:43,960 than expected. That's something else that China may want to 348 00:20:44,079 --> 00:20:46,880 use in its favor in these discussions. And then the 349 00:20:47,079 --> 00:20:51,079 third point, the third potential advantage for China is TikTok. 350 00:20:51,440 --> 00:20:55,039 Americans like it. We heard from a government advisor that 351 00:20:55,039 --> 00:20:58,359 that too may be a point of advantage, a point 352 00:20:58,400 --> 00:21:01,720 that China again can use in its favor in these talks. 353 00:21:02,240 --> 00:21:04,440 Speaker 9: I mean, the President really likes TikTok, and he said 354 00:21:04,480 --> 00:21:06,640 it over and over again because you know, it was 355 00:21:06,680 --> 00:21:09,759 a good way to communicate with young people. But let's 356 00:21:09,799 --> 00:21:13,920 face it, you can't have the Chinese have an app 357 00:21:14,039 --> 00:21:17,599 on one hundred million American phones. That is just not okay. 358 00:21:17,880 --> 00:21:20,640 So it's got to move to American ownership. It's got 359 00:21:20,720 --> 00:21:24,799 to move to American technology, American algorithms. 360 00:21:24,119 --> 00:21:26,680 Speaker 8: And that algorithm is the real sticking point in all 361 00:21:26,680 --> 00:21:29,960 of it. It's the secret sauce, an electronic formula that 362 00:21:30,039 --> 00:21:33,599 China has devised to figure out what people want to 363 00:21:33,599 --> 00:21:36,640 see on the TikTok platform. The reason is so successful, 364 00:21:37,160 --> 00:21:39,920 not so clear if China wants to part ways with it. 365 00:21:40,039 --> 00:21:42,799 I was hearing from one observer in Washington who described 366 00:21:42,839 --> 00:21:46,200 this whole current scenario between the US and China as 367 00:21:46,240 --> 00:21:47,480 a fragile ceasefire. 368 00:21:48,160 --> 00:21:51,599 Speaker 1: Meantime, the President is still hanging out in Scotland for 369 00:21:51,640 --> 00:21:55,279 a few more days, and while he's there, he's still 370 00:21:55,279 --> 00:22:00,880 working on golf and more trade deals. But as the 371 00:22:00,920 --> 00:22:04,920 week progresses here, it's a busy economic week. We've got 372 00:22:04,960 --> 00:22:08,119 the jobs report coming out on Friday for the month 373 00:22:08,160 --> 00:22:12,440 of July. Everybody's going to be watching that one very 374 00:22:12,480 --> 00:22:14,480 close to see what the FED will do about that. 375 00:22:14,640 --> 00:22:18,319 We've got the gross domestic product, the first look at 376 00:22:18,359 --> 00:22:22,680 the gross domestic product for the second quarter, and we've 377 00:22:22,680 --> 00:22:25,319 got personal consumption expenditures coming out this week. So a 378 00:22:25,319 --> 00:22:29,519 lot of data for the FED to figure out what 379 00:22:29,839 --> 00:22:32,640 they are going to do. And speaking of the Fed, 380 00:22:32,720 --> 00:22:38,759 here's Krishna Guha, who is the number two guy at Evercore, 381 00:22:38,839 --> 00:22:42,400 talking about the view from Wall Street. 382 00:22:42,599 --> 00:22:45,079 Speaker 7: See a lot of uncertainty as to where the light 383 00:22:45,160 --> 00:22:47,400 market's going to print this Friday, and again you know 384 00:22:47,440 --> 00:22:49,799 this the next month as well. Now, I think that's 385 00:22:49,880 --> 00:22:51,839 why the FED is in wait and see mode, right. 386 00:22:51,839 --> 00:22:54,200 They don't want to just see data from June. They're 387 00:22:54,200 --> 00:22:57,400 want to see data from June, July, and August and 388 00:22:57,440 --> 00:23:00,519 then make that call on rates. I think the picture 389 00:23:00,599 --> 00:23:03,839 up to this point has been labor marketing aggregate pretty solid, 390 00:23:04,240 --> 00:23:06,839 but with some softening under the hurt in that last 391 00:23:07,160 --> 00:23:12,799 employment report. Of course, hints of private sector hiring, particularly 392 00:23:12,799 --> 00:23:17,200 outside of those non syclicity sensitive health and education sector 393 00:23:17,240 --> 00:23:20,160 is the private sector hiring is quite weak. If we 394 00:23:20,240 --> 00:23:25,480 get that private sector weak hiring theme confirmed in Friday's print, 395 00:23:25,680 --> 00:23:28,519 that's going to push the FED again more in the 396 00:23:28,559 --> 00:23:33,440 direction of that September cut. So certainly, the FED, like 397 00:23:33,480 --> 00:23:37,599 the rest of us, would like clarity on tariff policy 398 00:23:38,119 --> 00:23:41,559 in order to assess how that's going to impact the 399 00:23:41,640 --> 00:23:45,079 economy and make it easier to make decisions. But as 400 00:23:45,119 --> 00:23:49,200 you say, we have had some clarity on some important tracks, 401 00:23:49,680 --> 00:23:53,160 the European track, the Japanese track, and some of the others. 402 00:23:53,880 --> 00:23:55,960 I don't think the FED is going to take the 403 00:23:56,000 --> 00:24:00,559 absolutest position that they need to wait for perfect on 404 00:24:00,640 --> 00:24:05,279 everything before they make a decision. It's a risk management assessment, 405 00:24:05,359 --> 00:24:09,000 as monetary policy almost always is. It is getting talked 406 00:24:09,000 --> 00:24:13,240 about in kind of nerdy you know, economist circles. Those 407 00:24:13,240 --> 00:24:15,240 of us who are counting know econ wonks worry about 408 00:24:15,240 --> 00:24:17,640 this stuff a lot. Look, I think the US data 409 00:24:18,000 --> 00:24:21,720 is still pretty good quality overall, but there is some 410 00:24:21,759 --> 00:24:26,000 deterioration in the collections. I would argue also that we've 411 00:24:26,039 --> 00:24:28,359 got to be a little wary now about how people 412 00:24:28,359 --> 00:24:31,759 are responding to the household survey and the labor market report, 413 00:24:32,119 --> 00:24:38,799 with some undocumented migrants are potentially responding differently, not necessarily 414 00:24:38,920 --> 00:24:43,319 just truing up their answer here for fear of the consequences. So, 415 00:24:44,200 --> 00:24:47,680 both because of collection and because of reporting bias, some 416 00:24:47,759 --> 00:24:50,039 of the data right now is getting fuzzed up. I 417 00:24:50,039 --> 00:24:53,920 don't think this is bad enough to make it incredibly 418 00:24:53,960 --> 00:24:56,480 difficult to see what's going on in the US right now, 419 00:24:56,519 --> 00:24:58,680 as for instance, has been the case in the UK 420 00:24:59,119 --> 00:25:01,640 labor data. For all Wow, fine blind because the data 421 00:25:01,680 --> 00:25:05,519 is just so bad, But we don't want to go there. 422 00:25:05,720 --> 00:25:08,519 We don't want to see the data continue to deteriorate 423 00:25:08,799 --> 00:25:10,799 to the point of which not just the FED, but 424 00:25:10,920 --> 00:25:14,920 decision makers in corporate America and households just don't have 425 00:25:15,000 --> 00:25:17,440 good information upon which to base that decisions. 426 00:25:17,880 --> 00:25:21,440 Speaker 1: Yeah, So that FED meeting is Tuesday and Wednesday. We'll 427 00:25:21,440 --> 00:25:24,240 find out Wednesday about two o'clock in the afternoon whether 428 00:25:24,279 --> 00:25:26,759 the FED decides to cut infrastrates or not. The bet 429 00:25:26,839 --> 00:25:29,839 is that they won't, even though the pressure has been 430 00:25:29,839 --> 00:25:32,359 put on by the White House on the FED to 431 00:25:32,440 --> 00:25:34,880 drop interest rates. So the bet on Wall Street is 432 00:25:34,920 --> 00:25:37,880 they won't do it in the meeting this week, but 433 00:25:37,960 --> 00:25:43,880 they will in the month of September in Washington. Russia 434 00:25:43,960 --> 00:25:48,720 Gate is still bubbling up. John Ratcliffe, who is the 435 00:25:48,759 --> 00:25:53,319 CIA director, had some comments about it earlier today. We 436 00:25:53,440 --> 00:25:54,279 know it was a hoax. 437 00:25:54,680 --> 00:25:56,960 Speaker 10: Now we want to understand how you did it so 438 00:25:57,000 --> 00:26:00,920 that it can't happen again. And that's what this declassification 439 00:26:01,079 --> 00:26:04,480 process that we're undergoing right now, what's going on, why 440 00:26:04,519 --> 00:26:08,359 it's so important, and why there can be accountability and 441 00:26:08,440 --> 00:26:10,880 preventability to prevent these same people that did it in 442 00:26:10,920 --> 00:26:15,680 twenty sixteen with the Steve dossier with the Hunter Biden laptop. 443 00:26:15,720 --> 00:26:18,079 In twenty twenty from doing it again in the future. 444 00:26:18,720 --> 00:26:23,200 Speaker 1: Yeah, So as much as the Obama administration, President Obama 445 00:26:23,359 --> 00:26:28,400 and his top people, John Brennan, all that Clapper, Susan Rice, 446 00:26:28,559 --> 00:26:31,640 all of those people, they want this to go away. 447 00:26:31,680 --> 00:26:34,720 So does the mainstream media. In fact, it was interesting 448 00:26:35,880 --> 00:26:38,519 if you look in the New York Times or the 449 00:26:38,599 --> 00:26:44,240 Washington Post, try and find one story about this. They 450 00:26:44,279 --> 00:26:47,359 are not reporting on this at all. And this is 451 00:26:47,559 --> 00:26:55,000 the CIA, This is off the National Director of Intelligence. 452 00:26:55,039 --> 00:26:57,960 This is top level stuff, and they're going through and 453 00:26:58,000 --> 00:27:02,519 finding out where the law were in twenty sixteen to 454 00:27:02,599 --> 00:27:07,400 try to basically do a coup on President Trump, especially 455 00:27:07,400 --> 00:27:10,559 President elect Trump, but it continued into his first two 456 00:27:10,599 --> 00:27:15,599 years of his first term. So Tulsi Gabbard's latest update is. 457 00:27:15,559 --> 00:27:20,799 Speaker 11: This, they don't actually cover the revelations that these intelligence 458 00:27:20,880 --> 00:27:25,680 reports and the evidence that we release actually conveys to 459 00:27:25,720 --> 00:27:29,759 the American people. They simply talk about their criticisms of 460 00:27:29,799 --> 00:27:33,720 it or convey Democrat politicians criticisms of it, but none 461 00:27:33,759 --> 00:27:37,759 of them actually dealing with the truth that has been revealed. 462 00:27:37,920 --> 00:27:40,039 They don't want the American people to know the truth. 463 00:27:40,480 --> 00:27:45,039 But also they recognize the mainstream media's complicity in this. 464 00:27:46,000 --> 00:27:49,240 Speaker 1: Yeah, so let me clarify. They're doing stories, but they're 465 00:27:49,240 --> 00:27:53,079 not talking about what is the dirt that they have uncovered. 466 00:27:53,400 --> 00:27:56,799 They're just saying that Tulsea Gabbert is digging around in 467 00:27:56,839 --> 00:28:02,279 this particular area along with John Ratcliffe. Speaking of dirt, 468 00:28:03,160 --> 00:28:07,920 Jelane Maxwell, she has now this afternoon her lawyers have 469 00:28:08,079 --> 00:28:12,720 sent an application to the Supreme Court to review her case. 470 00:28:13,279 --> 00:28:16,599 We knew this was going there after her meeting on 471 00:28:16,920 --> 00:28:21,559 Thursday and Friday of last week. She is looking for 472 00:28:21,880 --> 00:28:25,039 wanting to get out of prison. Everybody in prison does 473 00:28:25,079 --> 00:28:31,839 want to. Let's start with Donald Trump talking about this case. 474 00:28:32,319 --> 00:28:34,599 Speaker 2: I never had the privilege of going to his island, 475 00:28:35,559 --> 00:28:37,200 and I did turn it down. But a lot of 476 00:28:37,200 --> 00:28:40,759 people in Palm Beach were invited to his island. In 477 00:28:40,799 --> 00:28:43,160 one of my very good moments, I turned it down. 478 00:28:43,279 --> 00:28:44,640 I didn't want to go to his island. 479 00:28:45,359 --> 00:28:47,400 Speaker 1: Yeah, in one of those very good moments. In other words, 480 00:28:48,440 --> 00:28:52,559 thank goodness he did. I don't know about I don't 481 00:28:52,559 --> 00:28:55,200 know about the privilege of going there or not. But 482 00:28:55,599 --> 00:28:58,799 in any case, he's claiming, no, he never went there. 483 00:29:01,839 --> 00:29:04,960 But the Supreme Court the question of whether they will 484 00:29:04,960 --> 00:29:08,000 look at this or not. Eli Honig former SD and 485 00:29:08,160 --> 00:29:11,880 Y prosecutor weighs in on will the Supreme Court even 486 00:29:11,920 --> 00:29:12,480 bother with this. 487 00:29:13,079 --> 00:29:15,759 Speaker 12: Back in two thousand and eight, when Jeffrey Epstein was 488 00:29:15,799 --> 00:29:20,000 prosecuted by Justice Department prosecutors in the Southern District of Florida, 489 00:29:20,079 --> 00:29:23,799 he was given an outrageously lenient plea deal. And in 490 00:29:23,839 --> 00:29:26,960 addition to all the sentencing benefits that Jeffrey Epstein was given, 491 00:29:27,039 --> 00:29:30,079 there was a really unusual provision in that deal which 492 00:29:30,079 --> 00:29:33,359 said that none of Jeffrey Epstein's co conspirators will be 493 00:29:33,480 --> 00:29:37,079 prosecuted in that district. Now, fast forward to twenty twenty, 494 00:29:37,119 --> 00:29:40,319 Gilaane Maxwell gets indicted in the Southern District of New York, 495 00:29:40,359 --> 00:29:43,400 a different part of the Justice Department, and Maxwell has 496 00:29:43,559 --> 00:29:45,279 argued both at the trial court and the Court of 497 00:29:45,319 --> 00:29:48,119 Appeals that that deal DOJ made back in two thousand 498 00:29:48,119 --> 00:29:50,720 and eight benefits her. It says she can't be prosecuted 499 00:29:50,720 --> 00:29:53,839 if DOJ says she's one of the co conspirators. However, 500 00:29:54,119 --> 00:29:57,880 DOJ's position up until now, including now, has been that 501 00:29:57,880 --> 00:30:00,640 that deal was only binding on the prosecutors and Florida, 502 00:30:00,720 --> 00:30:02,799 not on prosecutors in New York, and that that kind 503 00:30:02,839 --> 00:30:06,839 of deal releasing co conspirators is basically invalid because it's 504 00:30:06,839 --> 00:30:10,200 so much against public interest. So judges have ruled against 505 00:30:10,200 --> 00:30:12,920 Maxwell at the trial court level and at the Federal 506 00:30:12,920 --> 00:30:15,400 Court of Appeals level, and now Maxwell is down to 507 00:30:15,519 --> 00:30:17,400 her last hope, which is trying to get the US 508 00:30:17,480 --> 00:30:20,839 Supreme Court to take up this issue. So the Supreme 509 00:30:20,839 --> 00:30:24,319 Court statistically takes only a very small proportion of all 510 00:30:24,400 --> 00:30:27,720 cases brought to it, under ten percent, usually under five percent, 511 00:30:27,799 --> 00:30:30,480 usually in the range of two or three percent. Recently, 512 00:30:30,680 --> 00:30:34,319 on the one hand, there have been different interpretations of 513 00:30:34,319 --> 00:30:37,480 this issue in different circuits around the country, which is 514 00:30:37,559 --> 00:30:40,160 usually a factor that makes it more likely the Supreme 515 00:30:40,200 --> 00:30:42,200 Court will take the case. On the other hand, though 516 00:30:42,279 --> 00:30:45,400 the Supreme Court was brought this same exact issue in 517 00:30:45,440 --> 00:30:47,880 a separate case a few years ago and declined to 518 00:30:47,920 --> 00:30:50,519 hear it then, so maybe they've had a change of heart. 519 00:30:50,680 --> 00:30:53,240 So I would say overall it is unlikely but not 520 00:30:53,279 --> 00:30:56,240 impossible that the Supreme Court takes this case. So it's 521 00:30:56,279 --> 00:30:58,559 clear that Glene Maxwell now is making a play for 522 00:30:58,640 --> 00:31:01,680 some sort of leniency. Got a twenty year sentence. She's 523 00:31:01,720 --> 00:31:04,279 about five years into that sentence, and she's in her 524 00:31:04,319 --> 00:31:07,119 mid sixties. The other ways she could get relief or 525 00:31:07,160 --> 00:31:09,759 there's really two main ways. One is to hope for 526 00:31:09,839 --> 00:31:12,960 a pardon or a commutation, and we've seen various comments 527 00:31:13,000 --> 00:31:15,640 made by the President refusing to rule that out, saying 528 00:31:15,640 --> 00:31:17,839 he hasn't thought about it. But the other one is 529 00:31:17,920 --> 00:31:21,480 Maxwell can try to convince DOJ prosecutors and this may 530 00:31:21,480 --> 00:31:23,839 be what's part of behind the meeting that she had 531 00:31:23,880 --> 00:31:26,119 last week. She can try to convince the DJ to 532 00:31:26,200 --> 00:31:28,319 write a letter what we call a rule thirty five 533 00:31:28,440 --> 00:31:31,079 letter to a court saying yes, she's already been convicted 534 00:31:31,039 --> 00:31:34,720 in a sentence. However, she's been cooperative. Her cooperation was helpful, 535 00:31:34,759 --> 00:31:37,599 and therefore, judge, we ask you to re sentence her 536 00:31:37,640 --> 00:31:40,559 to something lower. Now, DJ should be very careful about 537 00:31:40,559 --> 00:31:43,240 when they write those letters, especially in a case like this, 538 00:31:43,359 --> 00:31:45,960 but it is theoretically and procedurally possible. 539 00:31:47,480 --> 00:31:50,559 Speaker 2: Well, I'm allowed to give her a pardon, but nobody's 540 00:31:50,799 --> 00:31:55,720 approached me with it, nobody's asked me about it. It's 541 00:31:55,759 --> 00:32:00,400 in the news about that. That aspect of it h 542 00:32:01,640 --> 00:32:04,480 right now it would be inappropriate to talk about it. 543 00:32:04,559 --> 00:32:07,920 Speaker 12: So this boggles my mind. It's the same response he's 544 00:32:07,960 --> 00:32:11,319 been giving. Will you consider a pardon for a convicted 545 00:32:11,480 --> 00:32:14,160 child sex trafficker. I mean, the easiest thing to say 546 00:32:14,279 --> 00:32:17,000 is just no, of course, not what president wouldn't say that. 547 00:32:17,039 --> 00:32:19,240 And the fact that Trump keeps saying he has the power, 548 00:32:19,279 --> 00:32:21,279 and by the way, he's right, he does have the power, 549 00:32:21,319 --> 00:32:23,960 as unseemly as it might be, and then says, you know, 550 00:32:24,000 --> 00:32:25,519 I haven't thought about it. I mean, that's the same 551 00:32:25,519 --> 00:32:28,039 answer that Donald Trump has given many times in the 552 00:32:28,079 --> 00:32:31,279 past with other people who he did end up pardoning 553 00:32:31,359 --> 00:32:33,559 or commuting. So look, obviously there will be a serious 554 00:32:33,599 --> 00:32:36,279 political cost to doing that, but I think it's pretty 555 00:32:36,319 --> 00:32:39,160 telling that Donald Trump has said anything other than absolutely not. 556 00:32:39,920 --> 00:32:40,079 Speaker 1: Well. 557 00:32:40,160 --> 00:32:42,880 Speaker 12: I think the play we're going to see from Maxwell's 558 00:32:42,880 --> 00:32:45,400 team is obvious and the right play from any defense 559 00:32:45,480 --> 00:32:48,799 lawyer's perspective, which is to make an argument to DOJ. Look, 560 00:32:49,000 --> 00:32:51,400 she has now come forward, she has given you valuable, 561 00:32:51,480 --> 00:32:53,880 truthful information. Whether that's true or not, I don't know, 562 00:32:53,920 --> 00:32:56,839 but that'll be what Maxwell's attorney says, and therefore we 563 00:32:56,880 --> 00:32:58,640 want you to go to a court and ask for 564 00:32:58,720 --> 00:33:03,039 sensing leniency. From DOJ's perspective, it's a little bit unclear 565 00:33:03,079 --> 00:33:06,839 what exactly they're doing. I am skeptical that Gallaine Maxwell 566 00:33:06,880 --> 00:33:09,720 is anywhere near credible enough to sign up as a 567 00:33:09,720 --> 00:33:13,359 cooperator and to bring other indictments based on her information. 568 00:33:13,440 --> 00:33:16,079 I cannot envision myself ever having done that. It would 569 00:33:16,079 --> 00:33:18,640 shock me if DOJ did that. So maybe they're just 570 00:33:18,640 --> 00:33:21,279 trying to get her information. Maybe they have some interest 571 00:33:21,319 --> 00:33:23,599 in getting whatever she said out there to the public 572 00:33:23,640 --> 00:33:26,359 to try to appease critics. But there's an interesting sort 573 00:33:26,359 --> 00:33:28,960 of political and legal dance happening here between the parties. 574 00:33:29,079 --> 00:33:33,160 Speaker 1: So Tom Massey from Kentucky ways in and says that 575 00:33:33,319 --> 00:33:37,000 he wants to get aggressive on finding out more about 576 00:33:37,000 --> 00:33:38,000 this Epstein case. 577 00:33:38,519 --> 00:33:40,359 Speaker 13: I think we should get a lot more than just 578 00:33:40,440 --> 00:33:43,680 the book. Let's get the financial records of the estate. 579 00:33:43,799 --> 00:33:47,799 Where's follow the money, As they say up here, we 580 00:33:47,839 --> 00:33:50,119 should look at the plea bargain open that up. 581 00:33:51,119 --> 00:33:53,519 Speaker 12: Well, it's an interesting idea by Representative Massey, and I 582 00:33:53,519 --> 00:33:55,759 know he has some bipartisan support. On the one hand, 583 00:33:56,039 --> 00:33:59,960 the notion of let's subpoena the Epstein estate. They can 584 00:34:00,200 --> 00:34:02,599 that Congress has broad subpoena power. Now the estate might 585 00:34:02,640 --> 00:34:05,000 well resist it, and it may well end up going 586 00:34:05,039 --> 00:34:07,039 to court. But I think the Representative Massi is right 587 00:34:07,079 --> 00:34:09,280 that that could shed some light on really the mystery 588 00:34:09,639 --> 00:34:14,159 around Epstein's finances. There's been a separate question about subpoenaing DOJ. 589 00:34:14,400 --> 00:34:14,559 Speaker 2: Now. 590 00:34:14,599 --> 00:34:18,239 Speaker 12: Traditionally the Justice Department would resist that type of subpoena, 591 00:34:18,239 --> 00:34:21,719 would say we don't open up our closed files to Congress. However, 592 00:34:21,760 --> 00:34:23,679 if you think about the political reality now, I think 593 00:34:23,679 --> 00:34:26,159 it's pretty tough for Pam Bondi to say no, we 594 00:34:26,199 --> 00:34:29,440 want to legally resist a subpoena from Congress, especially if 595 00:34:29,440 --> 00:34:31,400 it comes with bipartisan support. 596 00:34:31,719 --> 00:34:34,559 Speaker 1: So the Epstein story goes on, and we'll see if 597 00:34:34,559 --> 00:34:37,400 Tom Massey gets his way to get followed the money. 598 00:34:37,440 --> 00:34:40,760 But that really is probably the best way to solve 599 00:34:40,800 --> 00:34:46,920 this problem with this Epstein story. Wall Street today not 600 00:34:47,039 --> 00:34:51,519 a lot going on. It was felt like a summer Monday. 601 00:34:51,960 --> 00:34:57,119 Dow Jones industrials today down sixty four, forty four thou 602 00:34:57,440 --> 00:35:01,519 eight thirty seven s and p up one point. Nasdaq 603 00:35:01,719 --> 00:35:05,840 up seventy points. Gold was down twenty dollars to thirty 604 00:35:05,880 --> 00:35:09,559 three point fifteen, and oil popped a little bit today, 605 00:35:09,639 --> 00:35:14,239 up almost two dollars to just under sixty seven dollars 606 00:35:14,239 --> 00:35:17,760 for one barrel. Of boil. Thanks for coming by today. 607 00:35:18,320 --> 00:35:21,840 We'll try it again tomorrow. Hopefully we will see you 608 00:35:21,920 --> 00:35:22,119 then