Transcript generated automatically by AI and may contain errors.
Chapter 1: What is the main topic discussed in this episode?
This has been on Breaking News. I'm Ben Myselis and this is your Breaking News. Donald Trump's disastrous trip in China continues. We've been covering all of the developments there. I usually count wins by did you get something? out of a trip, out of a negotiation, out of a deal. And it seems that what Xi Jinping was getting out of this were tangible things.
Xi Jinping's plan for unification of Taiwan, as he refers to it as, getting his hands on the H-200 GPU chips, those semiconductor chips that the United States never previously gave China or anyone else for national security concerns. China having the ability to protect itself as a global hegemon on par with the United States.
Chapter 2: What were the key developments from Donald Trump's trip to China?
China setting bright lines about what can and can't be discussed. You shall not discuss the Taiwan issue except under our terms. Do not discuss with us or make any claims or demands about Jimmy Lay, who's the pro-democracy Hong Kong media mogul who's in prison for over 20 years, who was leading pro-democracy movements and rallies in Hong Kong.
Donald Trump in 2024 promised as part of the campaign that Jimmy Lai would be immediately freed when Trump took office. He goes, I've got a great relationship with Xi Jinping. It'll be very easy for me to get Jimmy out of prison. And of course, even right before Donald Trump took the trip. uh, to China.
Trump took it off the table and compared Jimmy to, uh, James Comey and said, uh, you know, James Comey is a dirty cop. If somebody asked me to release Comey from prison, do you think I would do it? Jimmy Lay is causing a lot of bedlam in China, a lot of bedlam, creating lots of issues for my friend G and what this entire, uh, charade, uh,
Donald Trump going to China basically looked like is Donald Trump wanting to be liked by a fellow authoritarian who's more powerful than him. Donald Trump wanting to feel accepted. Donald Trump wanting to look strong, whereas Xi Jinping came in with a kind of clear plan, with a clear strategy. And Xi Jinping extracting what he wanted out of this meeting.
And as I sit here today with everybody, as we do Ben on breaking news, I ask you sincerely, I mean, what did the United States get? I mean, I could try to look at it as objective as I can. He manipulated the market. So the markets here, if you have stock, and specifically if you have stock on the NASDAQ and the S&P, you did good today. So I guess that was something long-term.
I think stocks and companies depend on consumers, depend on people. And if you keep on destroying the ability of people to afford things, eventually this whole Ponzi scheme is going to unravel. But perhaps for Donald Trump, his ideas, look. I'm going to do Ponzi scheme presidency, and I'm just going to pass it off to whoever.
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Chapter 3: How does Xi Jinping's plan for Taiwan impact U.S.-China relations?
Maybe we get a Democratic president in the future. Then I'll be like, look, I set us up to be perfect, and you destroyed it. So then the arsonist blames the firefighter. I mean, that's kind of the MO of these MAGA Republicans. But I don't think that America got anything. Did the Strait of Hormuz open? No. Did the United States open? Get any firm deals from China? I mean, did they agree?
You know, other than the H200 chips, which they strategically want, because once they have them, they'll be able to copy them pretty quickly and catch up technologically to where the U.S. is on semiconductors. But what else did we get? What was the big get by the United States? It's frankly unclear to me.
And now, I suppose as expected, Israel, which is also launching a defamation lawsuit against the New York Times. I never realized that countries can file defamation lawsuits. I'm a law professor. The first time I heard of that, Israel expects the war to resume in Has it really ever stopped?
But war to resume as soon as Donald Trump returns from China and will raise its military readiness to the maximum level when he lands per Con 11A. Israeli TV station. The US told Israel directly a few hours ago that Trump may soon order strikes inside Iran, with Israel already bracing for the Iranian response. And it's consistent with what we've reported here on the Midas Touch Network, right?
I said Donald Trump did not want the war to take place, or it's taking place, but did not want open hostilities to take place before meeting with Xi Jinping because, oh, Trump so wanted those photos. Trump wanted to be in the room. For Trump, it was about Trump, right? I mean, it was about soothing his ego at the expense of
American geopolitical strategic interests and on behalf of the interest of the American people. So that's what Trump wanted. Xi Jinping, a bunch of children jump up and down for Donald Trump, which is pretty creepy. Had Donald Trump show up though with a state visit that other leaders get that type of state visit, but that's what Trump wanted out of this. And then
We will likely resume open hostilities. I wouldn't be shocked if that's next week, if it's the week after. But I expect that the only reason it didn't happen is because Trump wanted this meeting with Xi Jinping to take place and he knew it would be canceled like the last time it was canceled. The Strait of Hormuz remains closed. You had Foreign Minister Araghchi, Iran's foreign minister.
He played a major role at the BRICS conference that took place, right? So while Donald Trump was meeting with Xi Jinping in Beijing. You had the BRICS meeting taking place in India, where Prime Minister Modi of India posted, glad to interact with foreign ministers and heads of delegations of BRICS countries. BRICS has emerged as an important platform for advancing cooperation.
among emerging economies and giving a voice to the aspiration of the global south. Under India's chairmanship this year, we will work together to strengthen multilateralism, promote sustainable development, enhance economic resilience, and build a more inclusive world order. So you had this BRICS meeting taking place in India while Donald Trump and
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Chapter 4: What promises did Trump make regarding Jimmy Lai during his campaign?
But Donald Trump at the meeting with Xi Jinping was behaving the way he makes his cabinet members behave to him is how Trump was behaving to Xi Jinping. Oh, you're so strong. You're so powerful. You're such a great leader. I admire you so much. Xi Jinping was saying things like, look, we have a very fragile global world order.
We're seeing massive changes and massive shifts in the global order right now. And Xi Jinping said, what we must be wary of is not to fall into the Thucydides trap. And we can avoid that through cooperation. And the Thucydides trap was a term that was coined recently, but it referred to Thucydides talking about the start of the Peloponnesian War.
and talking about how a lesser power that emerges as a greater power inevitably gets into fights and wars with the greater power. So at the time, Thucydides wrote, he was reflecting on the Peloponnesian War, he was reflecting on
Sparta at that time, the greater power, the rise of Athens, Athenian democracy, and that put Athens and Sparta on an inevitable course to war that both really didn't want, that wasn't really in the interest of others, but they were dragged into this war based on the Thucydides trap. And so Xi Jinping was saying America's Hegemony is done and it is waning. It is falling.
China is rising and we're the new dominant hegemon. We're the new major power in the world. And so we shouldn't fall victim to the Thucydides trap. You shouldn't get jealous of the fact that we're a more dominant power than you are. I mean, that's the language.
utilizing diplomatic speak that Xi Jinping was talking about, global order, multilateralism, cooperation, and Donald Trump was fawning over Xi Jinping personally. Let's talk a little bit more about this conference, and I'll show you just the kind of words versus reality. And we can do words versus reality on a lot of things, but you have this issue over Jimmy Lay.
Again, he's, was, is Hong Kong media mogul, often identifies, he's Catholic, often identified with kind of a pro-democracy media, when MAGA Republicans pretended that they were China hawks. Remember that back in the day, just like they were deficit hawks and debt hawks. Remember, they were China hawks. We're going to stop China. We're going to decouple. That's what they always used to say.
We're going to decouple. We're going to make China realize that we're the strong power, that we're the hegemonic power. that language was being used. And so Donald Trump would be asked when he would go on right-wing radio, all right, what are you going to do about Jimmy Lai? What would you do if you were in office? And Donald Trump would say, oh, it'll be easy. I'll get him out in 24 hours.
I'll just call him Xi. It'll be really, really easy. And then right before Donald Trump even took the trip to China, when Donald Trump was asked. So here we are, May 2026. You're going to meet Xi. Are you going to bring up Jimmy? Are you going to talk about it? Are you going to get him freed? Because that was one of the things you promised.
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Chapter 5: What are the implications of the H-200 GPU chip deal for the U.S.?
The issue, and you've been asked about it, and you've spoken about it, and that is China's support of Iran. How big a discussion was that today? We discussed it. I mean, when you say support, they're not fighting a war with us or anything. No. He said he's not going to give military equipment. That's a big statement. He said that today. That's a big statement. He said that strongly.
But at the same time, he said, you know, they buy a lot of their oil there, and they'd like to keep doing that.
dude what are you saying he said it strongly what does it even mean he said it strongly strongly he said it strongly he's stupid what are you talking about okay if he said that he's not telling the truth shocker like you like you lie all the time you know that and you know that's what trump says you know putin told me strongly she told me strongly
And by the way, while I just mentioned Putin, I'll go back to the meeting with Xi in a second, but it's related because while this meeting with Xi Jinping was taking place, Russia launched its biggest drone and ballistic strikes maybe since the war began, maybe since its invasion of Ukraine began. Most major cities in Ukraine were struck.
Fortunately, I mean, Ukraine's developed these drone interceptors and other technology to knock out the ballistics. So 93% of the drones and ballistics were halted. Think about that. And that percentage has gone up dramatically from the early when the war began, which it was more in the 70% and the 80%. But just think about the amount of...
uh no sheer the sheer volume of the of the weapons that were shot into ukraine we're showing people for those listening in audio and we're showing what it looked like when literally an entire apartment complex in kiev you know was um you know was was obliterate was just completely destroyed so donald trump promised though in 2024
That he would, and he alone, would bring peace to Ukraine in 24 hours. Just like he said, I'll be able to bring Jimmy Lai back. Easy. I'll speak to Xi. No problem. He said, I'll be able to end the war in Ukraine in 24 hours. I've got a good relationship with Ukraine. Putin, I know Zelensky, I'll be able to bring them together. This will be easy.
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Chapter 6: How did the BRICS meeting coincide with Trump's visit to China?
This will be done in 24 hours, no problem at all. And of course, that didn't happen. Trump couldn't even get a ceasefire for under 12 hours, right? I mean, Putin got his parade. Zelensky acknowledged the parade. Then the prisoner swap didn't happen. Trump couldn't even get that done. If you can't get a 12-hour ceasefire, how are you going to end the war? And I can just keep on going, right?
Trump promised in 24 hours, inflation would go away. This week we saw inflation. Surge to 3.8%. That's the CPI. We saw the PPI, producer price, the wholesale price, 6%. Supposed to be a 4.8% year-over-year readout. Just think about it. Wholesaler prices year-over-year increased 6% in one year.
So on top of all the other inflation, including the inflation that they hate on Biden for, which Biden was bringing down, That still compounds in the aggregate. So it's 6% on top more than last year, which was whatever percent more than it was for Biden. So it could be 10% or 12% in the aggregate under Trump with the PPI.
And the PPI is an important indicator because if wholesalers are now paying 6% more year over year, who do you think then pays that eventually? It eventually gets passed down to the consumer. So that 6% gives you directionally where your 3.8% of your CPI is going by looking at your PPI. You see how that kind of, it's not directionally always like 3.8 is going to get to 6% or 6%.
But if the 6% starts looking like 8%, then 3.8 will probably look like 4.2% by the end of this year. But I'm just showing you just more lies. They're just con artists. They're just a bunch of frauds. So then Donald Trump says, regarding the Strait of Hormuz, like, did you get anything regarding the Strait of Hormuz? Did we do a deal there? And Trump goes, she would like to see a deal made.
He said, maybe I can be of help. He'd like to do a deal. Okay, but did you do a deal? What do you mean he'd like to do a deal? You know, he's so weird about the word deal. I get like his thing is art of the deal, which he didn't even like, right. And, and, and, you know, he's the worst deal maker deal. I want a deal. I want a deal. Everybody give me a deal.
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Chapter 7: How did recent Senate hearings address U.S. military actions?
I need a deal. You need a deal deal. No, just, just get it done or shut up. Have you ever heard of somebody talk? so much about like, like a deal before, like you look so thirsty for the deal that you, that you get played so damn easily. And, you know, as I've said before, the thing with Donald Trump and the deal, he's never been a deal maker. He's always been a destroyer.
and the same way he breaches contracts all of the time and doesn't acknowledge any type of good faith for him the i the way he weaponizes the idea of a deal what's supposed to happen in a deal People are supposed to negotiate in good faith, make concessions, and try to find mutually beneficial arrangements to do a deal.
Chapter 8: What are the consequences of Trump's foreign policy decisions?
Because ultimately, both sides need to sign. A deal is different than a surrender. A deal is different than a war. But see, Trump weaponizes the very concept of a deal to sucker punch you. You let down your guard in a deal-making process. and he uses it to take advantage of you. That's what he's tried to do with Iran. Okay, this is what he's done his whole life in business, right?
Sure, I'll agree to your framework. You got it, Iran. Or whoever he dealt with in business. Sure, I'll agree. I'll do it. I'll do it. I'll do it. Okay, sounds good. And then you think he's going to do it. Then he ties you up in litigation, and he doesn't do his. He
but he doesn't do his portion or in the business side, he's got all these LLCs, so he personally benefits, but then he can bankrupt his LLCs. Oops, that's not me, that's my LLC, right? Like that's what he's done his whole career. Anyway, here he is talking to Xi. Here he is saying, Xi would like to see a deal made. He said, if I can be of any help, I would like to help.
Here, let's play this clip.
President Xi would like to see a deal made. He would like to see a deal made. And he did offer, he said, if I can be of any help at all, I would like to be of help. He did say that. Yeah, he did say that. And look, anybody that buys that much oil has obviously got some kind of a relationship with him. But he said, I would love to be of help.
If I can be of any help whatsoever, he'd like to see the hormone straight open. He said, if I can be of any help whatsoever, I would like to help.
Okay, so then what do you do? Then what? Then what? He said he'd like to help. Did you get a commitment? Was there a deal? Or are you talking about a framework for a deal that has a framework for a deal that doesn't? What did you, what am I missing here? What did you get? What did you extract? Okay, so let's hear from Marco Rubio, right? Secretary of State. We heard from the foreign spokesperson.
for Iran about what they're saying about Taiwan. So Rubio, what say you, Rubio? Let's play this clip.
For the other topics, we know where they stand, and I think they know where we stand. Do you think China wants to invade Taiwan? Well, I think China's preference is probably to have Taiwan willingly, voluntarily join them. In a perfect world, what they would want is some vote or a referendum in Taiwan that agrees to fold in. I think that's what they would prefer.
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