Episode 5565: We Are Running Out Of Time To Stop Asylum Seekers From Staying In The US
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What is the opening argument about media and the state of the regime?
This is the primal scream of a dying regime. Pray for our enemies, because we're going medieval on these people. I got a free shot on all these networks lying about the people. The people have had a belly full of it. I know you don't like hearing that. I know you've tried to do everything in the world to stop that, but you're not going to stop it. It's going to happen.
And where do people like that go to share the big lie? Mega media. I wish in my soul, I wish that any of these people had a conscience. Ask yourself, what is my task and what is my purpose? If that answer is to save my country, this country will be saved.
War Room. Here's your host, Stephen K. Bann. Tuesday, 4 August, Year of Our Lord 2024. Bowling, Benzeman, and Rickards are going to walk us through some of the most pressing issues before us. We're going to start with Eric Bowling. Eric, I know you press for time. Your assessment of Scott Besson's star turn this morning on Squawk Box.
Wow. You know, I'm going to be honest with you, Steve. I didn't know he had it in him. That was one of the most wide-ranging, in-depth explanations of what the plan is. And I became a big, big fan of Scott Besson at that moment. He didn't say that they're bailing out the Japanese yen as an interventionist from... the United States to protect our own interest rates and whatnot. He said they're a friend. They're one of our closest allies in the world, maybe the closest at this point. And he said their currency is undervalued on top of it. When he said undervalued, It went from, okay, I'm really against interventions, but this kind of helps because now you have a currency that's undervalued. So we're going to purchase an undervalued currency, which should be profitable.
Currency swaps happen all the time, country to country. It just happens all the time. And he said it was less of a purchase than a swap. And Kernan, I'll give him credit, Kernan asked him a very important question, kind of tongue-in-cheek, but he asked him, you know, Scott, you're a smart guy. You've been doing this a long time. You wrote buy 5 to 10 billion JPY, Japanese yen, in big letters with a Sharpie so that reporters could read it, right? And Besson kind of laughed. He said, you want to know? Yeah. He said, we don't need to buy this stuff. This is... In essence, a currency swap will help the Japanese, will also help the other currencies in the region, Korea, South Korea being one of them. And on the top of it, it will, again, put a little bit of bid in our bond market rather than the selling that the Japanese may have to do.
And when the bid is in, the bond market rates come down. I will tell you, Steve, from the minute that happened, late Friday, we've been off to the races on here the equities have firmed up interest rates have plummeted today plummeted and that may be a little bit on the heels of about a seven dollar slide in oil prices over the over the last two days we're down 350 approaching 75 a barrel again so Whatever they're doing, it's working. Let's put it that way.
What did you like? Tell me about what he said about the underlying economy and actually the green shoots that we were starting to see in February have been delayed because of our little excursion in Iran. What did you like what he had to say? What's your assessment of what he said about the actual economy? Because this is going to drive... a lot when it comes to election day, which is 90 and a wake-up away, sir.
Yeah, some of the things that came out of that interview, first of all, in the middle of this, it was about 8 o'clock in the morning, in the middle of that, earnings were being released. McDonald's earnings were high. We talked about Palantir last night on my show with you, Steve. They were the blockbuster earnings. And the point that Besant was making is, even in what appears to be a higher interest rate market, These companies are CapEx spending, capital expenditure spending, which may feel tough right now if you're owning the stock. But down the road, those things all come to fruition.
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Chapters
6 chapters
1
What is the opening argument about media and the state of the regime?
0:02–4:02
2
How did Scott Bessent’s CNBC interview explain the Japan currency intervention and market effects?
4:02–11:33
3
How does Bessent’s view connect to Main Street versus Wall Street and the economy?
11:33–30:34
4
Why does Todd Bensman argue asylum is the magnet driving mass migration and what fixes does he propose?
30:34–44:11
5
Which legislative deadlines and political risks make time urgent to change asylum policy before January?
44:11–48:44
6
What is the legal status of 212(f) and why does it matter for the U.S. border now?
48:44–55:12
Speakers
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