you know, anybody can jump here at a time, tell

me I'm wrong.

And I did this on Twitter.

I'm like, anybody want to tell me I'm wrong? So it's clearly, this is what's been happening.

Their bluff got called and lots of problems that are like this can be solved with the studious application of money, especially, and the kicker for all of this was that in order for Besant to perform this intervention, this Yen intervention, did he sell dollars out of the treasury capital account, the treasury general account? No, no, no, no, no, no.

He sold US Euro for extra reserves.

He dumped 40 billion euros on the market and he didn't tell the Europeans he was doing it.

Now, one point you need to make, you kind of glossed over, but I think this is important for people because is why this yen carry trade, why all these little outside dealings with this, you know, why these sources of funding are so important, particularly to Europe, because that's kind of the focus of this.

And he's

also independently fucking wealthy now, too.

Right.

Asmongold is worth more than all of us put together on a monthly basis.

Dude brings in seven figures a month.

He talks about it openly.

Like, I get checks from YouTube.

I said this to my daughter at one point, and she's, you

Well-

See, I, I look at Donald Trump and I'm like, you know, like him, love him, hate him, don't ha- Like I am not, there's two things that I'm not going to...

I, I, I, I, I can disagree with Trump about a great number of things, but I am not going to sit here and say that my political acumen is better than his, my understanding of media is better than his.

He is a unique figure in, um, in history, and when he say, when he pursues a plan like he has, you have to assume it's f- you have to assume it is for a reason that you cannot perceive, and then it's your job now to go and try and figure out what that reason is.

And then when you see a pattern of behavior, which is Trump real- Trump believes he has to show the American people all of the fraud, all of the corruption, all of the, um, all of the, the, you know, break o- break open all of these false narratives before you make the big move.

So the Iran war is a part of the bigger process of explaining to everybody just how much the Europeans hate us, because if you want to get out of NATO, if you want to un- implement the Don Roe doctrine, if you want to, uh, declare hegemony over North of, North and South America-

Mm

... right in the run-up to the war.

Because I

was already tracking German-Italian, German-American and others, right, in the U.S. and British-American 10-year bond spreads.

But I started looking at the French-Italian one because I wanted to see what was going on there.

And when I started mapping that to the operations in Iran, Dude, it's like night and day.

Like, the volatility on that spread hit a... stopped the day they ended the 12-day war last summer.

And then it's just been basically a straight line down except for one small blip right before the war where they were trying to shore up the French bond markets.

And then the war came in and destroyed it because there's a huge...

well let's stay on this i do want to come back to the darpa bitcoin thing because it's funny i was talking about that last friday but on that night we woke up to the headline of ukraine bombing the russian tanker this morning um and that that's what i think the wild card in the situation is like dude they try to escalate that um

In broad terms,

what happened? The old world was destroyed.

It was blown up.

Millions of people died.

The old infrastructure was blown to smithereens with artillery and everything, right? And so...

That process is then met with rebuilding afterwards.

And it's always who controls the rebuild afterwards, after everybody else has defaulted on the previous round of debt, then you start a war, then you do the rebuild.

So you can

And so I think it'd be interesting to dove into some of the recent recent news headlines and also potential changes that might be coming for that industry, because that's something as far as food that affects everybody.

Yeah, it's funny.

All you're doing is bringing up my PTSD over the years that I was a goat farmer, both milk and meat, right? And I've got a lot to say on this particular subject from the perspective of a person who used to do this, right? So a couple of things I want to point out to people is that what, you know, if you look at the agenda over the last 20 years, 20, 30 years of climate change, they've been moving toward, they've always been moving against the cow because the cow farts right so they wanted to get rid of beef like they were trying to tie cows into the climate change for a reason what they really wanted to do was um destroy you know our food supply our health the national security over that because look the united states produces retarded amounts of food and um always have and you know i will i put my carnivore credentials on the table and tell you that beef is by far the best of the meats to eat on a regular basis.

And I'm never healthier than when I eat mostly ruminant cows, sheep, goats, then scavengers, pork, and chicken.

That's a very big thing.

That's something I brought up when I got a chance to meet Dr. Sean Baker at a podcast I did a year and a half ago, and I put that idea in his head.

I said, oh, by the way, do you notice any differences in your performance when you only ruminants as opposed to eating scavengers like pork and chicken i know i feel better when i i i keep that keep my pork intake to a minimum um but you know as a as a as an aside What is City of London slash Davos, what are they good at? Creating choke points, creating single points of failure, creating monopolies that ensure that there are barriers to entry for the little guy or the average person.

But what are your thoughts on kind of intersection of financial markets and geopolitics as we kind of wrap up summer here?

constant.

where you can make that trade constantly work for you because as the yen weakens and the treasury weakens, and if you're in the middle, you're using German bunds as collateral or something else as collateral, right? Then, or as the third leg of the trade, then you can make money on both legs of the trade and write the headline, Japan is imploding, the US is imploding, but Europe is stable, okay? That's the game that they've been playing.

Besant blew that up and you know, he blew that up because he sold euros, not dollars to support the yen.

Okay.

And what he did was he blew up the, he forced them to respond by strengthening the euro yen cross because what he, what he figured out was that they were naked short in the euro yen market.

They were, they were rigging the FX market, uh, to rig the, the bond markets.

And I think what percent realized is that they were naked short or they were just, they weren't unhedged short in this scenario.

Everybody thought it was going

And now four years later... here we are here we

are here we are so um let's just put let's just we can start with the beginning big gay patent is in charge of the of the situation is all i have to say folks um i'll try and not gloat or anything it is really really funny but two things um I've been saying from the beginning of the Iran conflict that this was never about Iran, right? Iran was never about Iran in the same way that in many ways Venezuela was never about Venezuela.

Just like Mexico is not really about Mexico and Canada is really not about Canada.

Greenland's not really about Greenland, folks.

The Panama Canal is not really about the Panama Canal.

They're all about Venezuela.

you know, doing away with the choke points, both geographic and market-driven choke points, and the liquidification through the financialization of the oil trade.

there's no way I stayed up on them.

you

believe you have any stress in your life.

Like, really? Okay.

But regardless of that, I mean, you know, that you, again, salt that to taste.

That's my interpretation of it.

He doesn't act like a guy who's got a lot of stress on his head.

He's like, eh, he's on the ninth tee.

I think

Right.

America becomes a much different thing because America can then be something that can be taken over politically and animated by a different spirit than what you may have been imprinted with when you were a child.

Like, I was imprinted with a version of America that honestly didn't exist even when I was a kid in the 1960s and 1970s, right? Well, I was born in 68, so all through the 70s and the 80s.

But that being said, you know, and then as I got older and I began to understand that America had become something that was not what I was taught it to be, it doesn't mean that it can't go back to what it was, right? or what the spirit that still animates us is still there.

It was just buried under a political morass that we couldn't do much about, for lack of a better term, until it got so bad that we were like, okay, that's enough, and we're going to vote for Donald Trump.

And that was presaged by Ron Paul's revolution in 2008 and his insurgent campaign within 2012.

I see Trump as paying that impulse forward.

When did control hand over? When did the American dream die? When did these jabroni's takeover is it like the kennedy assassination is it before that you hear some people talk about the late 1800s with something going on with uh incorporation or something i don't fully know

Yeah, no, no, no offense taken.

And the, and the, and the reason I think that's fatuous is because, like, dude, you don't think they don't know that? Like, how about they understood that, and then they send Trump out there to say, "Look, the..." Like, we, we kill a layer of the Iran's ability, IRGC's ability to have any kind of coordinated command and control.

That describes March really well.

Then we have a couple of months' worth of, are the straits open? Are they not open? There's a, a conflict.

There's a, there's a, a ship blown up here.

There's a missile thrown there.

There's a, you know, whatever.

... once again muddling it a bit much.

... it's happening, so.

What I would say r- to that, Graham, just to, to, to, to, to kind of re- further re- define the conversation is I don't believe there is a West.

Okay? I believe there's the United States and I believe there's Europe, and I also...

I, I was just on a podcast with my friend Matt Dines who likes to call, uh, the country formerly known as British North America, th- known as Ca- known colloquially as Canada.

Um, I think those are separate, um, they're separate entities.

The United States is not Europe.

There is not Western values, okay? That's a European construct.

Right.

And like, what, what is your view on how that might impact, um, where all this, uh, like real world, uh, these conflicts where they go?

I'll tell you, I'll give you the TLDR without giving away too much of what I think I'm going to write about for the upcoming issues of the newsletter, is that Morse is not a Keynesian, and the goal in the United States is to recapitalize the middle class, and you can't do that with mortgage rates in the mid-sixes.

Okay? Can't do it.

It's got to be lower.

Well, you can drop the prices, though.

Well, and prices are starting to attenuate a little bit.

But no, you still don't even want to have mortgages sitting at 6.5%, 7%, 6.5%.

But what are you guys' thoughts on kind of the press metals complex as far as rest of this year, where things go for next couple of years? Um, I think it's basically a pretty interesting opportunity in some of these areas, but be interested to hear you guys thoughts on some of those different sectors.

So what is the reasoning that you're seeing and what will the change actually be on the ground?

Yeah.

Also, so understand that, you know, golden oil.

So when you're trying to get control of what have they been saying since you and I first started talking, which is that after Jerome Powell started the process of the five basis points to change the world, raising the reverse report payout rate by part.

Basis points about Fed funds draining all the euro dollar markets that started the process to where we are today.

Donald Trump's not doing MAGA.

We're not having the World Cup in the United States.

did

So Tom, beginning with you, what's your thirty-thousand-foot view of the Iran conflict right now? Where are we? What's left to accomplish in the region? And how does the House vote change your calculus, if at all?

It doesn't change my calculus at all because it doesn't matter what they do because Trump has to veto it, and then they have to go back and get two-thirds or sixty.

They gotta get sixty votes, so it doesn't matter.

Um, it's all just virtue signaling on the part of a recalcitrant legislature in the United States who's clearly in full-blown opposition mode, which is why Trump then moved Bill Pulte in as ODNI, which we'll get to in a couple of minutes, because he's, he's part of the Ir-- It's, it's like everything else.

It does sound like I'm just galloping around, but I'm really not.

Everything is connected, and because it's, it's how you, you put pressure on people ultimately, is you have to-- when you have, when you have oppositional, um, powers in the, the domestic politics space, then you have to break that logjam so that you can then open something else up in the geopolitical space.

So you've got a logjam in quote-unquote negotiations, uh, over the Iran, the Iran situation.

It's something more like communism versus decentralization and sovereignty and the exact plane of, of battle that we wanna be on, not fake right, left, uh, are you nice, are, what does your tweet mean or not? All this fake stuff.

Now,

and don't get me wrong, I love the folks over at RT International.

They know what they're going to get from me.

But I'm like, no, I don't have time today.

This is not, as much as, yeah, and that was a bigger thing, right? But I'm like, no.

you know this is not this is more important and look the truth is all that matters and we should always be striving for the truth no matter what even the truth matters yep even if that truth is inconvenient even if you don't like it like at the end of the day andy i'm going to say this to you now for the first time publicly something i've been thinking for the last three weeks And again, this is a big if.

I'm going to leave you with this one.

yeah

Wa- walk me through the last three years of following him and why you go, "This is a big win."

You see, uh, uh, look, for a long time, I was w- I was a, I was a Thomas Massie fan.

Like, I was a libertarian like everybody else and like, and he was the s- kind of the second coming of Ron Paul.

Like, he was the next generation Ron Paul to come through the, through the, uh, the thing.

And when he's in opposition, and when you're, and when you're in opposition, right, when the uniparty's in charge, absolutely be Ron Paul.

Be, be a stick in the mud.

Be the only vote against everything.

... who didn't debate, who was like, nobody knows who the heck he is, all the things.

Um, could you first address why that narrative is incorrect, and then walk us through what is really driving this conflict?

Sure.

I mean, from, from my perspective, Jesse, it's pretty obvious that this is-- that's a narrative, and it's a, and it's a narrative that has a, a good nugget of-- bunch of nuggets of truth in it.

I mean, I'm not, I'm not gonna sit here and deny that APAC doesn't have influence over, you know, various members of our Congress.

But the idea that the United States as a pre-- as a, uh, in fact, the preeminent military and indu-- You know, I, I wouldn't say industrial because that-- you can literally say that about China.

But in, in, you know, economic and military power in the world, like we don't have to take orders from, you know, eight million Jews in the Middle East, and we don't.

Or eighteen million Jews worldwide.

And how long do you see this conflict in the Middle East continuing for? Is this something you see getting wrapped up potentially this year? Is this a years-long conflict that's gonna draw in other regional powers? Uh, I'd love to get your thoughts there as well.

hmm.

That's a different world, right? That's a different framework.

And in that world, Iran's not nearly as important, is it? Because now the trade routes, now the center of trade, the center of global finance and everything else is no longer around all of the maritime choke points of, let's just go through them.

The English Channel, Gibraltar, the Bosporus and the Dardanelles, the Suez Canal, Gulf of Aden, Strait of Hormuz, right? they're not important not as important even the straits of malacca right because if you're not moving as much oil and gas and trade and everything else from europe to china you don't have to go past the Straits of Malacca and Singapore, right? And if you look at a lot of the things that Chinese have been doing for the last 15 years, what do you think Belt and Road is? What do you think the oil and gas pipeline from Kunming to Myanmar, the Bay of Burma, right, is? It's a very important way, very important loading, energy loading, nodal point so that they don't have to be bottled up behind the US 7th fleet in the Straits of Malacca.

And that was what China was doing in the 2010s and all the way into Trump's first term and with the whole Asian pivot with Panetta and Hillary Clinton and Barack Obama.

So you have that, right? Now let's shift everything over to the Americas.

And you've got the Gulf of America, plenty of ways in and out, only one geographic choke point, the Panama Canal, which the United States controls.

Okay.

I'm doom scrolling a lot this week.

I, I, um, watch where you...

We are.

I, I don't know if you've been reading my Twitter feed, but it's [laughs] I'm out at three o'clock in the morning trying to, like, take people off the edge and go, "No, everything," you know.

Um, it's, it's funny as I, um...

It's good to see you, Marty, and yes, I do, I do like doing these on, on Friday afternoon with you.

It's like we get an af- an opportunity to sit down, kind of look at the week that was, the last couple weeks for us, you know.

There's a lot of mountains.