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The Eurozone Is In PANIC MODE Today · Neil McCoy-Ward Podcast

0:00
SPEAKER_00: Well,
0:00
SPEAKER_00: ladies and gentlemen,
0:02
SPEAKER_00: welcome to the stream where the Eurozone seems to be in panic mode today.
0:08
SPEAKER_00: And I don't know if panic mode would be the right terminology here.
0:13
SPEAKER_00: It seems more calculated as to what's
0:16
SPEAKER_00: actually going on.
0:18
So I'll give you a little bit of context because we've got a
0:20
lot to cover in this stream today.
0:23
Everything from Ursula von der Leyen having been attacked
0:27
twice,
0:29
as she claims.
0:30
SPEAKER_00: I'm still waiting to see all of this evidence.
0:32
SPEAKER_00: I've seen one piece of evidence.
0:33
SPEAKER_00: It doesn't look like an attack to me.
0:34
But there's all this stuff going on at the exact same time as
0:39
the SCO meeting.
0:41
SPEAKER_00: That is obviously the big meeting of
0:45
SPEAKER_00: It's similar to the BRICS alliance, but slightly different.
0:48
SPEAKER_00: It's the Shanghai Cooperation Organization, I think it stands for.
0:53
SPEAKER_00: So you've got your China, Russia, India as your main three players.
0:57
SPEAKER_00: And then you've got all these other Iran, Pakistan is in it now as well.
1:00
SPEAKER_00: And you've got all the Stan country.
1:03
SPEAKER_00: So you basically got 10 major players in that.
1:05
SPEAKER_00: So we'll talk about that and what was announced at that meeting as well.
1:09
But it just seems as though there's all this noise that's been
1:12
created to try and
1:13
SPEAKER_00: drown out the SEO meeting.
1:16
SPEAKER_00: Funny enough, none of it's coming from the US.
1:18
SPEAKER_00: I think...
1:19
SPEAKER_00: Quiet confidence is the words I'd use for Trump and Vance at the moment.
1:24
SPEAKER_00: They don't even seem phased by the SCO meeting.
1:27
But Europe obviously feels very threatened because of some of
1:31
the things that have
1:31
SPEAKER_00: been said at the SCO.
1:33
SPEAKER_00: So, of course, they've come out with all this weird, weird stuff today.
1:37
SPEAKER_00: We'll go through a little bit of it.
1:39
SPEAKER_00: So let me give you some context first then.
1:42
SPEAKER_00: This was what they just announced then.
1:45
SPEAKER_00: The EU is to close defense gaps by 2030.
1:50
SPEAKER_00: By this they mean with Russia.
1:52
To make sure Ukraine has ironclad security guarantees,
1:56
says von der Leyen.
1:58
SPEAKER_00: Eastern Europe security is decisive for the entire continent,
2:03
SPEAKER_00: argues the president during this visit.
2:06
SPEAKER_00: It's actually a massive sort of tour at the moment.
2:10
So she said that they're pledging greater strength for the
2:15
unity to deter Russia's
2:18
SPEAKER_00: aggression with far greater strength.
2:21
SPEAKER_00: That's what they're saying.
2:22
SPEAKER_00: She's going to be ready with far greater strength.
2:24
We're going to talk about that first before we even go into the
2:27
rest of it.
2:28
SPEAKER_00: What exactly do they mean when they say,
2:31
SPEAKER_00: and again,
2:31
SPEAKER_00: there's other quotes there,
2:32
SPEAKER_00: but I'm going to paraphrase it.
2:34
SPEAKER_00: So she's saying,
2:36
SPEAKER_00: we are not only going to be ready for Russia by 2030,
2:40
SPEAKER_00: but we're going to be ready for them with far greater strength and power.
2:45
SPEAKER_00: So there's a lot of rhetoric, a lot of language.
2:47
But if you listen to not just her,
2:49
but some of the other defense ministers,
2:51
SPEAKER_00: They're basically saying to me,
2:55
SPEAKER_00: and again,
2:55
SPEAKER_00: I might be reading into this,
2:57
but they're saying in my mind that they are going to create
3:01
this massive coalition
3:03
SPEAKER_00: of the European forces and they are going to overpower Russia.
3:07
SPEAKER_00: Now,
3:08
SPEAKER_00: What exactly does that mean?
3:09
Does it mean they're going to attack Russia by 2030 when they
3:14
have this huge military in place?
3:16
Or is it a case of they're going to have this military in place
3:20
as a deterrence
3:21
SPEAKER_00: because some of the...
3:23
SPEAKER_00: language that she's used regarding Putin over the last 24, 48 hours.
3:29
SPEAKER_00: Very,
3:30
very strong language and how he has to be dealt with and that
3:34
we will deal with him
3:35
SPEAKER_00: in time and all this other stuff.
3:37
SPEAKER_00: Let's go back to this article a second then.
3:40
so by 2030 we will have significantly strengthened our defense
3:44
capabilities to have
3:45
closed the defense gaps that we have and in parallel we will
3:49
contribute to make
3:50
sure ukraine has ironclad security guarantees putin is a
3:55
predator she says his
3:57
proxies have been targeting our societies for years with hybrid
4:00
attacks with cyber
4:02
SPEAKER_00: attacks the weaponizing of migrants now again
4:06
I thought it was very interesting that she would say that it's
4:11
Putin that's
4:12
SPEAKER_00: weaponized migrants in Europe.
4:14
SPEAKER_00: And she gave some examples as well, a couple of European countries.
4:17
SPEAKER_00: It's all Russia's fault.
4:19
SPEAKER_00: They're the ones that have weaponized the migrants to come into Europe.
4:24
SPEAKER_00: Look,
4:25
SPEAKER_00: you know me,
4:25
SPEAKER_00: I try and keep a very,
4:28
try and be unbiased when I'm sharing all this with you because
4:30
I know you sit on
4:31
SPEAKER_00: different sides of the fence.
4:32
So what I'm trying to do is just bring you the bigger picture
4:35
and give you my
4:35
SPEAKER_00: opinion on some of it.
4:37
SPEAKER_00: Okay,
4:37
if you believe that Russia has imported all of these illegal
4:42
migrants into Europe
4:45
and that it was their plan all along to weaponize these
4:48
migrants against Europe,
4:49
SPEAKER_00: you know...
4:52
Without being rude,
4:53
you know,
4:53
you've got to be quite naive,
4:56
shall we say,
4:57
to believe that.
4:58
SPEAKER_00: But people are believing it already.
5:00
SPEAKER_00: You know, the general public, they're starting to believe all of this.
5:03
SPEAKER_00: You're already hearing people say, wow, this migrant problem is Russia.
5:07
SPEAKER_00: Putin has done it.
5:09
SPEAKER_00: Him and, who was the other one they're saying?
5:11
SPEAKER_00: Hungary, I think.
5:12
SPEAKER_00: No, Belarus.
5:13
SPEAKER_00: They're saying Russia and Belarus, they've caused all of this.
5:16
SPEAKER_00: They have done it all.
5:17
SPEAKER_00: So this is the latest talking point, a bit weird.
5:21
But the other one I found really weird is now that all of a
5:24
sudden Ursula today
5:26
SPEAKER_00: has,
5:28
SPEAKER_00: you know,
5:28
SPEAKER_00: they say in times of peace,
5:30
SPEAKER_00: warlike men,
5:31
SPEAKER_00: or we can say women,
5:32
SPEAKER_00: warlike women,
5:34
SPEAKER_00: will attack themselves.
5:35
SPEAKER_00: It's very, very interesting.
5:37
SPEAKER_00: I remember that quote from a long time ago.
5:40
SPEAKER_00: And I think it's, now let me show you what has happened today.
5:43
SPEAKER_00: So two events have happened today.
5:44
SPEAKER_00: Are you ready for this?
5:46
SPEAKER_00: We'll come back to this in a second.
5:48
SPEAKER_00: So...
5:49
SPEAKER_00: Actually, let's start with this one, which is absolute nonsense.
5:51
SPEAKER_00: So, she claimed that she was attacked.
5:55
SPEAKER_00: She feared for her life.
5:56
SPEAKER_00: Her car was being attacked by Bulgarian nationalists.
6:00
SPEAKER_00: Luckily, she wasn't inside.
6:02
SPEAKER_00: Now, I've actually watched this video and...
6:06
SPEAKER_00: Just turn the sound off here.
6:08
I've watched this video and the attack,
6:10
you've got to watch it for a long time to see this.
6:12
There's basically an old man hitting a very lightweight flag on
6:17
the bonnet.
6:18
SPEAKER_00: Here he is here.
6:19
So he hits a flag on the bonnet,
6:22
hits his hand a little bit on the bonnet.
6:24
SPEAKER_00: That apparently was this huge attack.
6:27
SPEAKER_00: She was fearful for her life, etc.
6:30
SPEAKER_00: There we go.
6:30
SPEAKER_00: There we go.
6:31
SPEAKER_00: That was it.
6:32
SPEAKER_00: He was hitting the flag.
6:33
So,
6:33
I mean,
6:33
you can watch the whole thing,
6:34
but you're not really going to learn much from it.
6:36
So there's this big thing around how she was afraid for her
6:39
life and all this.
6:40
SPEAKER_00: She wasn't even in the car first thing.
6:43
SPEAKER_00: Next then, this is all over the mainstream news.
6:46
SPEAKER_00: This is the biggest headline right now.
6:48
SPEAKER_00: She suspects Putin had ordered this Russian jamming of her plane.
6:54
SPEAKER_00: That is the big story here.
6:56
SPEAKER_00: I mean, look, it's been updated every 20 minutes at the minute.
7:00
So the disruption of a plane carrying her was disrupted due to
7:04
suspected Russian
7:06
SPEAKER_00: interference,
7:07
SPEAKER_00: she said.
7:08
They said they used jamming technology while she was arriving
7:12
in Bulgaria,
7:14
SPEAKER_00: but they landed safely.
7:16
They said,
7:17
you know,
7:17
they made this big deal how the pilots had to use paper maps.
7:21
SPEAKER_00: And I was thinking...
7:23
SPEAKER_00: Well, that's what they used to use, paper maps.
7:26
SPEAKER_00: But I guess maybe they're not trained on paper maps anymore.
7:30
SPEAKER_00: But it was a big deal.
7:32
She said then threats and intimidation are a regular component
7:35
of Russia's hostile actions.
7:37
And now because of this,
7:39
they need to ramp up the defense capabilities and support for
7:43
Ukraine.
7:44
SPEAKER_00: So again, it's the same pattern all the time.
7:46
SPEAKER_00: You know, you come up with a story.
7:51
SPEAKER_00: where you're under this massive attack.
7:52
SPEAKER_00: Look, my car was almost... I was almost killed.
7:56
SPEAKER_00: This old man with a flag, he hit the... I was lucky I wasn't in that car.
8:00
SPEAKER_00: I don't know what could have happened, right?
8:02
SPEAKER_00: You know, it's that sort of stuff.
8:03
SPEAKER_00: So then they put this out everywhere, and everyone gets behind it.
8:06
SPEAKER_00: Oh, gosh, this poor lady.
8:09
SPEAKER_00: She did nothing to,
8:10
SPEAKER_00: you know,
8:11
SPEAKER_00: have any...
8:11
SPEAKER_00: This man hit on her bonnet,
8:13
SPEAKER_00: and now there's the story about the plane.
8:15
SPEAKER_00: You know...
8:16
SPEAKER_00: Personally, I just don't buy it.
8:17
SPEAKER_00: I really don't.
8:18
SPEAKER_00: I think when you look at all the patterns, it comes in groups, right?
8:23
SPEAKER_00: And there's a lot more to tell you as well.
8:24
SPEAKER_00: It's not just these things.
8:26
SPEAKER_00: But the stuff comes in groupings, right?
8:28
SPEAKER_00: So it's, well, Putin said something at the SCO, which is that...
8:34
SPEAKER_00: Hey, we need to strengthen our unity and all of this sort of stuff.
8:38
SPEAKER_00: And then next thing you know, the EU has this massive campaign.
8:43
SPEAKER_00: Look, we need to stop this.
8:45
Do you remember back in 20,
8:47
I think it's 2023,
8:48
when everyone was saying...
8:52
Today is Ukraine,
8:53
but in three months it will be,
8:55
I think they said it was Latvia or Lithuania.
8:57
SPEAKER_00: It was one of those countries.
8:58
SPEAKER_00: And then within six months it will be Poland.
9:01
SPEAKER_00: And then within two years they'll have gone all the way through Europe.
9:03
SPEAKER_00: And I said, that sounds like nonsense to me.
9:08
I don't even think the military,
9:09
Russian military,
9:10
is strong enough to do that.
9:11
SPEAKER_00: And then NATO will get involved.
9:12
SPEAKER_00: But I remember all these people.
9:14
SPEAKER_00: saying, you don't know anything, Neil.
9:16
SPEAKER_00: That's what's going to happen.
9:18
SPEAKER_00: The top analysts in the world have analyzed this.
9:21
SPEAKER_00: That is what he's going to do.
9:22
SPEAKER_00: He's going to rip through Russia, through Europe.
9:24
SPEAKER_00: And it's like, maybe, but I don't, I mean, I don't see that.
9:30
He's got a big enough issue at the minute with this massive
9:32
conflict in Ukraine.
9:35
SPEAKER_00: And we still haven't seen it.
9:36
The people have never come back and said,
9:38
oh,
9:38
actually,
9:38
yeah,
9:39
they haven't taken Poland.
9:41
SPEAKER_00: The Bulgarian government confirmed that during the flight,
9:43
SPEAKER_00: the satellite signal transmitting information was neutralized.
9:47
SPEAKER_00: So that's basically what happened.
9:49
SPEAKER_00: So let's come back to this then.
9:52
SPEAKER_00: They said that they've got this 800 billion euro defence plan.
9:55
SPEAKER_00: This is kind of,
9:56
SPEAKER_00: they said this before,
9:57
but they've come out today as if this is something new and that
10:00
they've created
10:01
this new thing called SAFE and it's got full participation
10:05
throughout the EU and
10:07
SPEAKER_00: the initial injection is 150 billion.
10:12
SPEAKER_00: To me, all of this is about weapons manufacturing.
10:14
SPEAKER_00: That's what I'm seeing here.
10:16
SPEAKER_00: So,
10:17
the European Commission President pointed to sweeping budget
10:21
priorities designed to
10:22
SPEAKER_00: prepare Europe for long...
10:24
SPEAKER_00: Okay,
10:24
SPEAKER_00: here we go.
10:25
SPEAKER_00: I need you to see this.
10:26
SPEAKER_00: She said, in black and white here...
10:31
She pointed to sweeping budget priorities designed to prepare
10:35
Europe for long-term
10:37
SPEAKER_00: confrontation.
10:38
So they're actually saying it,
10:40
that there is going to be long-term confrontation.
10:43
SPEAKER_00: We have a five-fold increase in defense spending,
10:45
SPEAKER_00: a tenfold increase in military mobility,
10:48
SPEAKER_00: and we have tripled the proposal for migration and border strengthening.
10:51
SPEAKER_00: I don't believe this at all.
10:53
SPEAKER_00: They're not going to strengthen the border.
10:55
SPEAKER_00: They're not going to stop migration.
10:57
SPEAKER_00: For some reason, they seem to like it.
10:59
SPEAKER_00: Now, this was also announced.
11:01
German cabinet backs voluntary military service,
11:05
opening the door to conscription.
11:08
SPEAKER_00: So this has all come at the same time then.
11:11
SPEAKER_00: So the German cabinet has passed this draft bill.
11:14
SPEAKER_00: It's going to introduce voluntary military service.
11:17
However,
11:18
they said that they will actually turn this into full-blown
11:22
conscription immediately.
11:24
SPEAKER_00: If they don't raise enough numbers.
11:26
SPEAKER_00: Now,
11:27
SPEAKER_00: I don't think they will raise enough numbers because if you've seen,
11:30
SPEAKER_00: they're not official surveys,
11:32
SPEAKER_00: but they're sort of people on social media,
11:35
SPEAKER_00: you know,
11:35
SPEAKER_00: YouTube and TikTok and X and all the others.
11:38
SPEAKER_00: And they go around with a microphone in the street.
11:40
SPEAKER_00: You know, it's like...
11:43
sort of stuff i like to do sometimes it's just people one man
11:46
like me with my
11:47
camera and a microphone in the street asking people for their
11:51
thoughts we don't
11:52
need all these polls that are biased and they've been funded
11:55
with fifty thousand
11:56
dollars pounds euros you don't need you don't need that you
11:59
just go out in the
12:00
street you ask you know you ask a hundred people in different
12:03
areas you're going to
12:04
SPEAKER_00: get a good a good sort of range there
12:07
SPEAKER_00: So where was I even going with that?
12:10
SPEAKER_00: I've lost my... I've absolutely lost my place.
12:13
SPEAKER_00: Oh, yeah, the conscription.
12:14
SPEAKER_00: There we go.
12:16
SPEAKER_00: So the conscription there.
12:18
SPEAKER_00: There's been all these videos where they go around,
12:21
SPEAKER_00: they start asking people,
12:22
SPEAKER_00: would you join the military?
12:24
SPEAKER_00: Would you go along?
12:25
SPEAKER_00: Most of them, 8 out of 10, I would say, maybe...
12:31
Maybe 70% at the low end say,
12:35
no,
12:36
I wouldn't get involved in the military.
12:39
SPEAKER_00: I wouldn't accept conscription.
12:40
SPEAKER_00: So if they try and conscript me, I just won't go.
12:42
SPEAKER_00: I'd rather go to prison.
12:43
SPEAKER_00: You know, all the comments that the younger people are making.
12:47
SPEAKER_00: I don't blame them.
12:48
SPEAKER_00: Would I want to go to war with...
12:51
SPEAKER_00: Russia,
12:52
just because these crazy psychopaths who are in charge in the
12:56
European Union,
12:58
say we need to have a war with someone like Russia and China
13:02
and North Korea and
13:03
SPEAKER_00: Iran,
13:03
SPEAKER_00: this sort of axis.
13:05
SPEAKER_00: No.
13:05
SPEAKER_00: If I got reconscripted today,
13:08
SPEAKER_00: after I've already done 10 years in the army,
13:10
SPEAKER_00: a long time ago now,
13:11
SPEAKER_00: but would I...
13:12
SPEAKER_00: I'd say...
13:13
SPEAKER_00: No, thank you.
13:14
I'll pass on your war where all the politicians are getting
13:18
ridiculously rich from
13:21
SPEAKER_00: weapons and defense manufacturing.
13:24
SPEAKER_00: No, of course I'm not going to be signing up to go there right away.
13:28
SPEAKER_00: It's just going to be an absolute slaughterhouse.
13:31
SPEAKER_00: That's all it is.
13:32
They seem to love these wars,
13:34
these politicians,
13:36
who never go themselves,
13:37
of course.
13:37
So the Chancellor has made boosting the Germany's military a
13:41
priority given the
13:42
SPEAKER_00: threat from Russia and said,
13:44
SPEAKER_00: we're now back on the path to a military service army.
13:48
SPEAKER_00: He summed it up by saying,
13:49
SPEAKER_00: we want to be able to defend ourselves so that we don't have to defend.
13:53
SPEAKER_00: Hold on, let me say it again.
13:54
We want to be able to defend ourselves so that we don't have to
13:58
defend ourselves.
13:59
SPEAKER_00: Okay, bit of word weaving there.
14:01
SPEAKER_00: The Defence Minister then,
14:03
he said he wants to increase the number of soldiers in service
14:06
from 182,000 to
14:08
260,000 by the early 2030s to meet new NATO force targets and
14:14
strengthen Germany's
14:16
SPEAKER_00: defences.
14:16
Now,
14:17
the other thing you've got to bear in mind is that if you
14:20
remember back...
14:21
SPEAKER_00: We're going back years now.
14:22
SPEAKER_00: I said Germany,
14:23
SPEAKER_00: because of the sanctions that they've done,
14:26
SPEAKER_00: the self-sanctions on their energy,
14:28
SPEAKER_00: they're going to have to become a military powerhouse again.
14:32
SPEAKER_00: Because it's the only way they're going to get their GDP up.
14:35
They can't really do it any other way because they've already
14:37
destroyed all their
14:38
SPEAKER_00: energy,
14:39
SPEAKER_00: which was vital for their heavy industry and manufacturing.
14:43
SPEAKER_00: So they've destroyed that.
14:45
SPEAKER_00: So what else have they got?
14:46
SPEAKER_00: Not really a lot left to use.
14:48
SPEAKER_00: That's the problem that Germany has now.
14:51
So,
14:51
of course,
14:51
that's where they've moved to,
14:54
which,
14:55
again,
14:55
I don't have a crystal ball.
14:56
SPEAKER_00: I just forecast this stuff based on common sense and logic.
14:59
The Defence Ministry also wants to increase the number of
15:02
reservists to 200,000.
15:03
SPEAKER_00: Now, that shouldn't be too difficult with the size of Germany, but...
15:08
They're already making all these plans because they're worried
15:11
that the 18 year
15:12
SPEAKER_00: olds are not going to join up.
15:14
SPEAKER_00: But in future,
15:15
SPEAKER_00: all 18 year old Germans,
15:16
SPEAKER_00: both men and women,
15:18
will be sent an online questionnaire asking if they're willing
15:20
to volunteer for
15:21
SPEAKER_00: military service.
15:23
SPEAKER_00: It will also ask questions about their physical fitness.
15:26
SPEAKER_00: Men will be required to complete the form,
15:29
SPEAKER_00: so it's not optional,
15:30
SPEAKER_00: they're required,
15:30
SPEAKER_00: but it will be voluntary for women.
15:34
SPEAKER_00: Interesting,
15:34
SPEAKER_00: I thought they were all on these equal rights,
15:37
SPEAKER_00: and now all of a sudden,
15:38
SPEAKER_00: no,
15:38
SPEAKER_00: no,
15:38
SPEAKER_00: it's not,
15:39
SPEAKER_00: which I'm glad.
15:40
In a statement,
15:41
the government said military service would be voluntary for as
15:44
long as possible.
15:45
SPEAKER_00: Here it is, for as long as possible.
15:48
SPEAKER_00: However,
15:48
it's said that if the security situation worsened or if there
15:51
too few volunteers
15:52
SPEAKER_00: came forward,
15:53
SPEAKER_00: the government could decide to use compulsion with the German parliament.
15:59
SPEAKER_00: Now, this has just happened as well.
16:01
SPEAKER_00: You can see it's just updated two hours ago.
16:03
Germany has actually rejected what von der Leyen actually said
16:08
about deploying
16:09
SPEAKER_00: German troops to Ukraine.
16:12
So he's harshly dismissed this as premature remarks by von der
16:16
Leyen to actually
16:17
SPEAKER_00: send these troops to Ukraine.
16:19
SPEAKER_00: He said she lacked the mandate to discuss the matter.
16:22
SPEAKER_00: So he is not impressed.
16:24
SPEAKER_00: He's made that very clear.
16:27
SPEAKER_00: Now,
16:27
SPEAKER_00: let's move on to the SEO meeting,
16:30
SPEAKER_00: which has been chaired by China,
16:33
SPEAKER_00: obviously the biggest,
16:34
SPEAKER_00: biggest contributor to the SEO.
16:37
SPEAKER_00: Sky News obviously very rattled by this.
16:39
They did a big kind of hit piece,
16:42
but there's loads of hit pieces on it at the moment.
16:44
China's Xi pushes a new global order flanked by leaders of
16:49
Russia and India.
16:51
SPEAKER_00: So I've already made my own notes after watching this,
16:54
SPEAKER_00: but I'll give you some of the notes from the media.
16:58
SPEAKER_00: He's challenging the current US-led global order,
17:03
SPEAKER_00: hosted 20 leaders,
17:05
SPEAKER_00: including Putin and Modi,
17:07
SPEAKER_00: and they have come up with these new incentives,
17:10
SPEAKER_00: which I'll talk through in a moment here.
17:14
SPEAKER_00: Let's have a look.
17:15
SPEAKER_00: Yeah,
17:15
SPEAKER_00: I'm just going to talk through and then we'll come back to,
17:18
SPEAKER_00: we've got a couple,
17:19
SPEAKER_00: we've got Lagarde and we've got Le Pen.
17:22
I'll give you an update on France as well,
17:24
the collapse of the government there in slow motion.
17:29
SPEAKER_00: So let's just have a look at this overview then.
17:31
SPEAKER_00: I've got some notes for you on the SEO summit in Tianjin.
17:36
So this was the 25th meeting of the Council of Heads of States
17:39
of the SCO.
17:41
SPEAKER_00: And it's from yesterday through to today.
17:43
SPEAKER_00: So today is the final day.
17:46
SPEAKER_00: She is the rotating chair presiding over the event.
17:52
So one of the things that I highlighted was this new global
17:55
vision that they've got.
17:57
SPEAKER_00: So they want to move,
17:58
SPEAKER_00: he said he wants a shift towards a multi-polar world,
18:02
SPEAKER_00: and he wants to reject the old Cold War mentality,
18:07
SPEAKER_00: but also bullying behaviour.
18:09
SPEAKER_00: I think he's talking about tariffs here.
18:11
I mean,
18:12
he didn't say,
18:13
but I think he's talking about tariffs,
18:15
US tariffs.
18:16
SPEAKER_00: So they obviously see this as a bullying behaviour,
18:20
SPEAKER_00: although we know Trump sees it as balancing trade.
18:24
SPEAKER_00: So he positioned the SEO as a platform for true multilateralism,
18:30
SPEAKER_00: a counterweight to the US dominated order.
18:33
And again,
18:33
there's a lot of comments about how this US dominated order
18:37
needs to come to an end.
18:38
SPEAKER_00: Another thing I thought was quite interesting, though.
18:41
on this meeting was how they changed some of the wording and
18:48
some of the approaches.
18:49
SPEAKER_00: So before they were really talking about the US and the Eurozone,
18:54
SPEAKER_00: you know,
18:55
SPEAKER_00: as one collective and how they had to deal with these.
18:59
SPEAKER_00: But now what you're seeing is they're really focused on the US.
19:02
SPEAKER_00: I think that's because they're seeing what we're seeing, which is the...
19:06
slow motion collapse of the eurozone there's so many problems
19:11
especially with debt
19:11
to gdp and and all the other issues that i don't think that the
19:15
scl really seen the
19:17
eurozone as a threat to them anymore especially after von der
19:20
leyen tried to
19:22
SPEAKER_00: not join their alliance, but become allied with China and India.
19:27
And that just didn't work out because they've already got an
19:29
ally in Russia.
19:30
SPEAKER_00: So she had to sort of backtrack on that alliance plan.
19:34
SPEAKER_00: And then the last straw really was going back to President Trump.
19:38
SPEAKER_00: And that's why in that meeting, she really kept quiet.
19:41
SPEAKER_00: She didn't say a lot in that meeting because she had no cards left.
19:46
It had all been played,
19:47
apart from that sanctioned bazooka,
19:49
which would have been
19:51
just crazy if she'd have launched that that would have not
19:54
worked well it would
19:55
have backed fired very badly so please let me know in the
19:59
comments below your
20:00
thoughts on all of this so the financial commitments from the
20:02
seo then they pledged
20:04
2 billion yuan in direct aid to certain countries that's about
20:09
280 million in usd
20:10
SPEAKER_00: 10 billion yuan
20:14
SPEAKER_00: which is 1.4 billion US dollars in loans through the SEO banking.
20:19
SPEAKER_00: Now,
20:20
the reason that's kind of crucial is because these loans go
20:23
towards developing
20:25
SPEAKER_00: nations or sometimes they're nations that are more developed,
20:28
SPEAKER_00: but they're in difficulty.
20:30
So they're sort of setting themselves up as an alternative to
20:33
the IMF because if
20:35
SPEAKER_00: they loan to these countries and they do infrastructure projects in these
20:39
SPEAKER_00: countries,
20:39
SPEAKER_00: A,
20:39
it's good for China's GDP and keeping everyone employed and
20:43
raising the middle
20:44
SPEAKER_00: class,
20:44
SPEAKER_00: etc.
20:45
SPEAKER_00: But also...
20:47
It kind of creates an ally because if they owe you money,
20:50
you've got an alliance there.
20:51
SPEAKER_00: So that's another reason I believe they're doing that.
20:55
And they want to stimulate development and greater integration
20:58
with other countries.
21:00
SPEAKER_00: In terms of structural expansion then,
21:03
SPEAKER_00: they talked about this new SCO development bank,
21:07
SPEAKER_00: which really is in direct competition with the IMF.
21:12
SPEAKER_00: There was a couple of other strategy documents.
21:15
SPEAKER_00: There were some new declarations.
21:17
SPEAKER_00: They outlined their strategy for the next decade.
21:20
SPEAKER_00: There wasn't really anything surprising there.
21:23
They made a statement marking the 80th anniversary of World War
21:27
II victory and UN founding.
21:30
SPEAKER_00: And then there was 24 new documents in regards to security,
21:35
SPEAKER_00: economy,
21:36
SPEAKER_00: cultural and cooperation and development.
21:39
SPEAKER_00: So that was the main gist of the conference.
21:42
SPEAKER_00: There was 20 world leaders there, 10 countries were there.
21:51
SPEAKER_00: Again, the GDP of these countries are not huge.
21:55
SPEAKER_00: China's the biggest one.
21:57
SPEAKER_00: You then got India.
21:58
SPEAKER_00: You've got Russia,
21:59
SPEAKER_00: Iran,
22:00
SPEAKER_00: Pakistan,
22:01
SPEAKER_00: but all the Turkmenistan and Tajikistan and all the others,
22:05
SPEAKER_00: a lot smaller.
22:06
Let's just wrap up the last points then with...
22:12
Okay,
22:12
so a couple of images we've got.
22:13
SPEAKER_00: This was the meeting.
22:14
SPEAKER_00: Obviously, these three are the power players at the meeting.
22:18
SPEAKER_00: Putin had a few things to say.
22:19
SPEAKER_00: He said...
22:21
that they forged even closer economic and security ties with
22:25
China amid the fallout
22:27
from the Ukraine war and the SCO had revived genuine
22:30
multilateralism with national
22:32
SPEAKER_00: currencies increasingly used in mutual settlements.
22:36
This in turn lays the political and social economic groundwork
22:40
for the formation of
22:41
SPEAKER_00: a new system of stability and security in Eurasia.
22:47
SPEAKER_00: This is another big one.
22:49
China's going to build an artificial intelligence cooperation
22:52
center for SEO
22:54
SPEAKER_00: nations so they can...
22:57
SPEAKER_00: actually all work together.
22:58
SPEAKER_00: He also invited the participation in China's lunar research station.
23:04
SPEAKER_00: So, okay.
23:06
SPEAKER_00: Separately,
23:07
Xi will preside over a massive military parade on Wednesday
23:11
when he's expected to
23:12
SPEAKER_00: be joined by Putin and Kim Jong-un.
23:16
SPEAKER_00: I thought this was very interesting.
23:18
SPEAKER_00: So, that's North Korea.
23:21
Russia,
23:21
China and obviously Iran is also and Pakistan part of that sort
23:26
of loose collective.
23:28
SPEAKER_00: I thought that was very interesting indeed.
23:31
SPEAKER_00: Now this was another story that came out of the BBC.
23:34
China's navy is expanding at breakneck speed and it's already
23:37
catching up with the US.
23:39
SPEAKER_00: Now,
23:40
SPEAKER_00: some people are spinning this story saying it's bigger now,
23:43
SPEAKER_00: their navy's stronger than the US.
23:45
SPEAKER_00: That's not correct.
23:46
SPEAKER_00: Yes, they've got more warships, but they're not actually stronger.
23:49
SPEAKER_00: I'll explain why.
23:50
In the last two decades,
23:51
China's ramped up investment in shipbuilding,
23:54
and it's paid off.
23:55
More than 60% of the world's orders this year have gone to
23:58
Chinese shipyards.
24:00
So China is building more ships than any other country because
24:03
it can do it faster
24:04
SPEAKER_00: than anyone else.
24:06
SPEAKER_00: So the scale is extraordinary.
24:09
The Chinese shipbuilding capacity is something like 200 times
24:13
the size of the United States.
24:15
SPEAKER_00: That is staggering.
24:18
SPEAKER_00: The commanding lead also applies to its navy.
24:21
SPEAKER_00: The CCP has the world's largest with 234 warships compared to the US-219.
24:28
SPEAKER_00: Now, I'll show you why it doesn't mean that China's navy is stronger.
24:34
SPEAKER_00: It all comes down to training, technology, and equipment.
24:39
SPEAKER_00: China's explosive rise has been fuelled by the sea.
24:42
The world's second largest economy is home to seven of the
24:45
world's ten busiest
24:47
SPEAKER_00: ports,
24:48
SPEAKER_00: which are critical to global supply routes.
24:51
SPEAKER_00: Now let's get on to the, here it is.
24:55
SPEAKER_00: They actually produced 39 warships.
24:57
SPEAKER_00: So that's a displacement of 550,000 tons.
25:01
SPEAKER_00: Now, you compare that to the Royal Navy with 399,000 tons.
25:07
So this is the UK Royal Navy,
25:10
a huge naval power,
25:12
compared to China there.
25:13
SPEAKER_00: That's just in the last...
25:15
SPEAKER_00: Four years then, 550,000.
25:17
SPEAKER_00: So while China has the world's largest navy by number of vessels,
25:22
the US fleet has a greater overall tonnage and is more powerful
25:27
with far more large
25:28
SPEAKER_00: aircraft carriers.
25:34
SPEAKER_00: And you can see here, actually, this is what it looked like in 2020.
25:38
And look at it in 2025,
25:40
the sort of build-up they've been doing has been huge.
25:43
SPEAKER_00: I want to go on to what Lagarde has been saying as well now.
25:48
SPEAKER_00: So let's sort of loop back to Europe a second.
25:51
SPEAKER_00: So she's warning of worrying risk of French government collapse.
25:55
SPEAKER_00: And this is looking very, very likely, ladies and gents,
25:59
SPEAKER_00: to happen sometime, perhaps mid of next week, I would say.
26:04
The middle of next week to the end of next week is looking
26:09
very,
26:10
very likely indeed.
26:12
SPEAKER_00: And I think they've massively underestimated Le Pen as well.
26:17
SPEAKER_00: So this is what I don't really get.
26:19
These politicians are meant to be really smart,
26:21
strategic geniuses,
26:23
aren't they?
26:24
SPEAKER_00: As we're told.
26:25
SPEAKER_00: And yet they always miscalculate.
26:28
So Francois has basically come out and Macron and they've said
26:33
they actually
26:34
SPEAKER_00: thought that Le Pen was going to...
26:37
SPEAKER_00: was going to come on their side because she can't run anyway,
26:40
SPEAKER_00: even though they're well in the lead,
26:41
SPEAKER_00: her party's well in the lead,
26:43
that they thought that she would come out on their side and try
26:46
and support them
26:47
SPEAKER_00: and bolster.
26:48
SPEAKER_00: Why on earth they thought that?
26:50
That was the biggest miscalculation I think I've heard all year
26:54
because they said,
26:54
SPEAKER_00: well,
26:55
SPEAKER_00: she can't run anyway.
26:56
SPEAKER_00: So if we,
26:58
SPEAKER_00: I can't remember exactly the wording,
26:59
SPEAKER_00: but if we allow her to help bolster us,
27:01
SPEAKER_00: we'll let her keep her seat and all this other stuff.
27:05
SPEAKER_00: She's not interested in that.
27:06
SPEAKER_00: It's very clear she's not interested in just keeping a seat.
27:09
SPEAKER_00: She's going all or nothing.
27:11
SPEAKER_00: So she wants to be the prime minister.
27:15
SPEAKER_00: She wants to be, or is it president?
27:18
Someone said the other day,
27:19
Neil,
27:20
because I said,
27:21
is Macron still in power there?
27:22
SPEAKER_00: What is it?
27:23
SPEAKER_00: So it's the prime minister and the president.
27:26
So most countries will have,
27:27
say,
27:27
UK as a prime minister,
27:29
America as a president.
27:30
SPEAKER_00: So Macron is always very much in the back here driving things.
27:36
SPEAKER_00: So they thought they could get her on side.
27:39
SPEAKER_00: So this was after that whole bogus...
27:42
SPEAKER_00: prosecution that they did against her.
27:44
SPEAKER_00: It's really illegal.
27:46
SPEAKER_00: It should be investigated, but who guards the guards?
27:49
SPEAKER_00: That's what I always say.
27:50
SPEAKER_00: Who's going to investigate the investigators?
27:54
So she can't actually run legally,
27:57
and she's very lucky she didn't go to prison.
27:59
SPEAKER_00: Now, the reason I say that is because
28:02
why I say it's all bogus is because if you remember when I
28:04
talked about this at the
28:05
SPEAKER_00: time,
28:06
SPEAKER_00: I actually looked into it.
28:07
SPEAKER_00: I looked into the nitty gritty of what she was supposedly have done.
28:11
SPEAKER_00: And it actually wasn't her that did it anyway.
28:14
It was just someone low down in her party because she was the
28:17
party leader.
28:18
SPEAKER_00: They said she was responsible.
28:20
SPEAKER_00: Then you have the current,
28:21
SPEAKER_00: it was the current or it was the last prime minister,
28:24
SPEAKER_00: done huge embezzlement,
28:25
SPEAKER_00: Macron,
28:26
SPEAKER_00: all these other people,
28:27
SPEAKER_00: huge,
28:28
SPEAKER_00: um,
28:29
SPEAKER_00: things going on, shall we say.
28:31
SPEAKER_00: I have to use the word allegedly.
28:32
SPEAKER_00: That's what my legal guy said.
28:36
Neil,
28:37
you have to use the word allegedly,
28:38
or as these people can go after you.
28:40
SPEAKER_00: So you had all this stuff allegedly,
28:42
SPEAKER_00: that they did all this embezzlement,
28:44
SPEAKER_00: all this money laundering,
28:45
SPEAKER_00: all sorts of stuff,
28:46
SPEAKER_00: and they didn't get anything.
28:47
SPEAKER_00: In fact, their cases when they went to court were thrown out.
28:50
SPEAKER_00: But LiPen, who didn't even do it,
28:52
SPEAKER_00: someone really low down, and she gets a suspended prison sentence.
28:58
SPEAKER_00: I think it's something like two years suspended at the moment.
29:00
SPEAKER_00: It's a five-year prison sentence.
29:02
SPEAKER_00: It's obvious what they're trying to do.
29:05
SPEAKER_00: Right, I've talked for too long.
29:07
SPEAKER_00: It's been a long stream today.
29:08
SPEAKER_00: I'm going to wrap it up here.
29:10
SPEAKER_00: Just talking around in circles today.
29:12
SPEAKER_00: Thanks for being online.
29:14
SPEAKER_00: Really appreciate you as subscribers.
29:15
SPEAKER_00: Take care.
29:16
SPEAKER_00: God bless.