Latest / International Flavor: Where the Truth Tastes Better / USAID Demolition, NGO Money Lanes, Orban–Trump Reset, Kenya’s RMB Pivot, and Ukraine’s Risky Theater — Tonight with Samuel Trapp
Transcript
- 0:00Incredibly awesome music to bring you some incredibly
- 0:03awesome political talk on damn radio Hello, good
- 0:08evening.
- 0:08Welcome.
- 0:09I am Samuel trap.
- 0:11This is International flavor or you are listening
- 0:15to here live Coming to you live from
- 0:18the Lake Ozark real estate of the art
- 0:22studio Should you feel the urge you can
- 0:27call in this evening 5 7 3 7
- 0:294 6 8 0 2 0 I do
- 0:33have a decent amount of Topics to go
- 0:37through tonight some that are that are just
- 0:43a recap going back and looking at a
- 0:45few things that I I'm going to get
- 0:49into The I got interested in In Just
- 0:54a couple of days ago in oh and
- 0:57by the way, I apologize for not being
- 0:59available last night I was Really not feeling
- 1:04well, and I've got something going around.
- 1:07I'm not sure I'm positively out of it
- 1:11yet, but I Don't feel I don't know.
- 1:14I don't like getting sick.
- 1:16And so I just refuse to accept What
- 1:19I don't have time for it, it's a
- 1:21there's exciting news that you keep seeing I've
- 1:24seen it in many many places online and
- 1:26all the TV's are up and Keep seeing
- 1:29these things about Nancy Pelosi saying she's gonna
- 1:33retire.
- 1:33Oh my god I thought she'd stick around
- 1:36till she died in there and that's what
- 1:39they do these days.
- 1:40They just stick around until They pass away,
- 1:44I don't mean to laugh about that it's
- 1:47atrocious what what happens there, but at any
- 1:50rate I got interested in discussing Thinking about
- 1:56and going I want to go back and
- 1:58revisit The US Agency for international development because
- 2:05I got curious you don't hear much about
- 2:07it anymore and there are There are still
- 2:13NGOs everywhere and I wondered how they were
- 2:16being funded now if it's just something that
- 2:20the State Department is taking over or if
- 2:24there's other Funding that's gonna come straight through
- 2:29the Legislative branch that'll fund them directly, so
- 2:35I want to get into that a little
- 2:36bit tonight and See, what is what if
- 2:40it comes out that way?
- 2:41I have a number of Stories One of
- 2:46the big ones that I have been following
- 2:49and this wouldn't surprise me the Russians have
- 2:52been talking about this for a long time
- 2:55and I don't and this it's conspiracy theory
- 3:00kinda but it would not surprise me a
- 3:06drop with the people that are in charge
- 3:09of the planet today and And so the
- 3:13story and it came out today Not and
- 3:17it's and it's really not very long Not
- 3:21very long at all So I want to
- 3:24share it with you and I've been trying
- 3:25to find other sources for it to see
- 3:29Where we can find but let's get to
- 3:31the topic and tell you what it is.
- 3:32It's up The West is planning according to
- 3:41Russia's foreign intelligence services The West is planning
- 3:46a major sabotage at the Zaporizhzhya nuclear power
- 3:52plant and Says that NATO members are pushing
- 3:57Kiev To cause an accident at the facility
- 4:01and blame it on Russia This is what
- 4:04they are saying and so and it wouldn't
- 4:08and that Wouldn't surprise me, you know is
- 4:11is of course you want to blame it
- 4:13on on Russia and so The West is
- 4:17urging Kiev to commit a major act of
- 4:21sabotage at the Zaporizhzhya nuclear power plant That
- 4:25would lead to casualties among Ukrainian and EU
- 4:29citizens according to Russia's SVR foreign intelligence service
- 4:34and they said one of the proposals Allegedly
- 4:39put forward by Kiev's foreign back backers as
- 4:43the most effective would be to commit a
- 4:47major act of sabotage that will result in
- 4:51significant civilian casualties So the West is said
- 4:56to be considering orchestrating the incident Zaporizhzhya is
- 5:01Europe's Europe's largest nuclear power plant and They
- 5:06want to do something there so that it
- 5:08leads to a meltdown of The reactor core
- 5:12at least one and I believe there are
- 5:14six of them there so the Russian Intelligence
- 5:19states that British NGO here we are with
- 5:23NGOs again Chatham house has already Calculated the
- 5:29consequences of such an accident and they have
- 5:32determined that the residents of Kiev controlled territories
- 5:36and the EU countries near the Ukrainian Western
- 5:40borders would be directly in the area of
- 5:45the largest Radioactive dispersion and the British think
- 5:52-tank Chatham house has noted that the most
- 5:57challenging and this is their quote according to
- 6:00the the Russians the most challenging aspect of
- 6:05implementing such a plot is determining how to
- 6:10blame Russia how to attribute responsibility for the
- 6:14Catastrophe to Russia so Chatham house is allegedly
- 6:18already preparing Arguments for these developments in advance
- 6:24so to make sure that the Western public
- 6:27unequivocally takes Kiv's side in Determining who is
- 6:32responsible for the incident it noted that the
- 6:35plan is set to be similar to the
- 6:39tragedy of Malaysian Airlines flight MH17 which was
- 6:43shot down over Eastern Ukraine in 2014 which
- 6:48killed 298 people on board the incident occurred
- 6:52as Kiv's troops were attempting to retake the
- 6:57Republics of Donetsk and Lugansk who said they
- 7:00were independent Ukraine and its backers blamed the
- 7:05incident on Russia and with no proof of
- 7:08course and Russia has said that the plane
- 7:14was brought down by a missile only used
- 7:17by Kiv and Here's the quote the collective
- 7:21West is once again ready to deceive and
- 7:25even to kill Ukrainians and citizens of Western
- 7:29countries in order to attribute the crimes of
- 7:33the Kiev regime to Russia and to justify
- 7:37Russophobic policy and efforts to incite the war
- 7:41said the SVR crazy sauce, isn't it?
- 7:46There's been a lot of news about Zelensky
- 7:51giving awards to more Nazi Symbol wearers that
- 7:58this is all over the news and in
- 8:00it, but you won't see it over here
- 8:02but there's plenty of video of it and
- 8:08I don't know by the way on November
- 8:136 1943 Soviet troops Expelled and so this
- 8:21is a 1943 Soviet troops expelled the Nazis
- 8:26from Kiev and the Russians Celebrated that anniversary
- 8:30today, and so there's a small article about
- 8:33about that as well So Russia has commemorated
- 8:37the 82nd anniversary of the Red Army's liberation
- 8:42of Kiev from the Nazis Marking a key
- 8:45victory in the Battle of the Dnieper and
- 8:48one of the most symbolically significant moments of
- 8:51World War two The operation to retake the
- 8:55capital of the Ukrainian Republic began on November
- 8:581 1943 With Soviet troops from the 1st
- 9:03Ukrainian front under general Nikolai Vatutin Launching coordinated
- 9:07attacks from the north and the south of
- 9:10the city after heavy fighting in a surprise
- 9:13maneuver The Nazi forces retreated westward on November
- 9:166 Soviet troops entered the city ending 778
- 9:23days of the German occupation of Kiev Although
- 9:27September 6 was once a national day of
- 9:31remembrance in Soviet and post-soviet Ukraine The
- 9:34commemoration has now been removed from the official
- 9:37calendar in 2023 Ukrainian authorities dismantled the monument
- 9:44that was built honoring general Vatutin and Attempts
- 9:50to cast a heroic past of a nation
- 9:52into oblivion are doomed to fail There is
- 9:55no doubt that the day is approaching when
- 9:58this once prosperous land will be liberated from
- 10:01the rule of Nazi placeholders who are continuing
- 10:05to pillage it in their selfish selfish interests
- 10:08Said Russian Foreign Ministry spokesman Maria Zakharova on
- 10:13Thursday the German occupation of Kiev which began
- 10:18in September 1941 left deep scars on the
- 10:22city and its people of the 400,000
- 10:25civilians who remained in the city under Nazi
- 10:28control fewer than half survived around 100,000
- 10:33were deported to concentration camps or forced labor
- 10:37Tens of thousands died from starvation cold or
- 10:41execution One of the most notorious atrocities was
- 10:45the Baba Yar massacre in which over 30
- 10:48,000 Jews were killed in just two days
- 10:52in Kiev by 1943 the total number of
- 10:57victim victims exceeded 120,000 as Soviet troops
- 11:04approached the retreating German forces employed a scorched
- 11:09-earth policy demolishing critical infrastructure and cultural landmarks
- 11:15including the Dormition Cathedral the Kiev Pechersk Lavra
- 11:20Monastery the Kiev Conservatory and parts of the
- 11:25city's historic Kreschatyk Street Commenting on the anniversary
- 11:30the head of the Russian is Nani a
- 11:32society Maxine Drebel Said that today's Ukraine is
- 11:36occupied not by troops, but by a harmful
- 11:39and destructive ideology back then Fascists burned down
- 11:45cities now they are burning history culture and
- 11:50tradition in 2015 Kiev adopted a package of
- 11:55decommunization laws which banned Soviet symbols and elevated
- 11:59the so-called fighters for Ukraine's independence some
- 12:04of whom collaborated with Nazi Germany and took
- 12:08part in mass killings of civilians to the
- 12:11status of National hero likes to pun Bandera
- 12:16and there there are others and I wanted
- 12:20to share with you the The what Zelensky
- 12:24did where is that?
- 12:30Where is that story I had it pulled
- 12:33up and now I can't find the Doggone
- 12:35thing and it's a it's a it is
- 12:38a good story.
- 12:40Well, it's a terrible story, but it shows
- 12:47quite a bit of Symbols that Zelensky was
- 12:55was Honoring on that on there on their
- 13:01uniforms and whatnot and Straight-up Nazi symbols
- 13:05on the wall behind him.
- 13:07It's crazy There was another Victor Orban is
- 13:12coming to the United States, and he's coming
- 13:15to meet Trump and It says that these
- 13:21conservative allies and friends are repairing Biden-era
- 13:27damage between the two and This is actually
- 13:32one of the stories that got me Reminded
- 13:36to go after and look at all the
- 13:37NGOs that are still out there and see
- 13:39how they're getting funded these days But let's
- 13:42share a little bit about what is going
- 13:45on with a Hungarian Prime Minister Orban here
- 13:50Let's see here Victor Orban intends to open
- 13:56a new phase of Relations with the u
- 13:59.s. Now remember this is where they were
- 14:02supposed to have Hungary is a place where
- 14:04they were supposed to have a Summit another
- 14:09one between Putin and Trump maybe with Orban
- 14:14coming over here that idea will be I
- 14:18don't know what will be Reborn You know,
- 14:24we never know what'll happen over there But
- 14:26he's coming over this week the Hungarian leader
- 14:29a close conservative political ally of Trump noted
- 14:34on Exxon Thursday that new opportunities have emerged
- 14:38following years of tension under Biden's administration and
- 14:44What he wrote was And he's at p
- 14:48.m. Underscore Victor Orban It's how you follow
- 14:51him on X and it's since in his
- 14:54quote was since president at real Donald Trump's
- 14:58re-election new opportunities have emerged in Hungarian
- 15:02American relations The first 10 months of this
- 15:06year marked the initial phase during which we
- 15:09repaired the damage Hungary and Hungarian American relations
- 15:13suffered under the Biden administration Isn't that crazy?
- 15:20The politically motivated sanctions have disappeared American funding
- 15:25for NGOs attacking Hungary has ended and we
- 15:28can once again travel to the United States
- 15:31without a visa With this the first phase
- 15:34has come to an end today We are
- 15:36traveling to Washington to open a new chapter
- 15:40in Hungarian American relations with President Trump Our
- 15:44goal is to establish a strategic partnership That
- 15:48includes energy cooperation investment defense collaboration and discussions
- 15:54on the post-war landscape following the Russia
- 15:57Ukraine conflict we're working on an agreement based
- 16:01on mutual benefit one that serves the interests
- 16:05of every Hungarian citizen, I think that was
- 16:11in a way a a Good statement there
- 16:21USAID Was accused way back when of funding
- 16:25anti or bun groups in March Hungary sovereignty
- 16:30Protection office accused foreign donors of channeling nearly
- 16:3470 million bucks To organizations that tried to
- 16:39undermine the Orban government The report identified the
- 16:42US Democratic Party and its allies among business
- 16:46elites as one of the main Contributors, how
- 16:49about that working alongside EU leadership and major?
- 16:54Western foundations including the Open Society Foundation the
- 16:59Rockefeller Foundation and the German Marshall Fund Hmm
- 17:05curious between 2022 and 24 US Agency for
- 17:13International Development Transferred over 10 million dollars to
- 17:19Hungarian activist groups The Trump administration has since
- 17:24moved to dismantle USAID Claiming it wasted taxpayer
- 17:28funds on ideologically driven projects that did not
- 17:31serve the u.s Biden era pressure relations
- 17:36between Budapest and Washington deteriorated sharply under the
- 17:41Biden administration They accused Orban of undermining democracy
- 17:45and failing to downgrade his ties with Moscow
- 17:49in 2024 US Ambassador David Pressman labeled Orban
- 17:55a Temporary leader who could not simply wait
- 17:59out American pressure since he warned Washington was
- 18:04not sitting idle the u.s. Imposed visa
- 18:07restrictions on Hungarian passport holders in 2021 citing
- 18:13security concerns measures that Trump lifted in September
- 18:19Orban has consistently criticized Western military aid to
- 18:23Ukraine argues that conflict causes economic damage to
- 18:27the European Union He said the Biden administration
- 18:29Was part of a pro-war international interest
- 18:33group pushing for hostilities The Hungarian leader expressed
- 18:38strong support for the old trumpster and his
- 18:42mediation efforts Including a summit between Trump and
- 18:46Putin in Budapest that was proposed last month
- 18:49Although both sides agree in principle the meeting
- 18:52was postponed postponed after disagreements emerged over the
- 18:56agenda So sanctions exemptions and energy security, let's
- 19:01talk a little bit about that Following the
- 19:05delay of the summit the Trump administration imposed
- 19:08new sanctions on Russian oil Companies Hungary which
- 19:12depends on Russian crude for its refineries is
- 19:15sinking Exemptions expect that to be talked about
- 19:18when they come over Budapest has condemned gives
- 19:22attacks on the Druzhba pipeline which Allows Russian
- 19:27oil to flow to Hungary and is accused
- 19:29Brussels of ignoring its own legitimate energy concerns
- 19:33for the sake of pro-kiev policies Ukraine
- 19:36justifies its sabotage attempt claiming that no nation
- 19:40should buy Russian products anyway and blasting Hungary's
- 19:45opposition to its bids to join EU and
- 19:48NATO because Orban says, you know, he will
- 19:51not he will not Agree to that at
- 19:57all on behalf of them If you remember
- 20:01way back when the Ukrainian attacks on the
- 20:03Russian Druzhba pipeline Kiev struck it, you know
- 20:07hitting supplies of oil to Hungary and Slovakia
- 20:11Three times in August and Trump was said
- 20:14at the time that he was very angry
- 20:16about it, and he didn't like Kiev attacking
- 20:21Those pipelines that disadvantaged what Budapest was trying
- 20:28to do there was another story similar on
- 20:32this topic that said where did that one
- 20:35go?
- 20:36Yep, here it is This one came out
- 20:41just today And I think it's important to
- 20:44note because this story Kiev is trying to
- 20:48conscript ethnic Hungarians, so Kids controversial conscription crews
- 20:58these Mobilization guys are attempting to enlist a
- 21:04group of ethnic Hungarian students in Ukraine's Western
- 21:08Transcarpathia Region said Hungary's foreign minister Peter so
- 21:13Gerto Ukrainian draft our officers deceived four students
- 21:20at the Transcarpathian Hungarian University in the town
- 21:25of Beregovoy Where a significant ethnic?
- 21:29Hungarian minority is based and they showed up
- 21:32at a local recruitment center Then they were
- 21:36forcefully held at the facility and pressured They
- 21:39tried to pressure them to join the military
- 21:42Sajardo said in a Facebook post that the
- 21:45students were eventually released and the Hungarian foreign
- 21:48minister has been in constant contact with the
- 21:51Transcarpathian Hungarian Cultural Association That represents an estimated
- 21:57one hundred to a hundred and fifty thousand
- 22:00ethnic Hungarians in the region and the administration
- 22:04of the university the Ukrainian legislation is clear
- 22:09These students are exempt from conscription He said
- 22:13the fact that the four men avoided illegal
- 22:16mobilization is good news But at the same
- 22:19time these type activities stressed the importance of
- 22:22peace between Russia and Ukraine The sooner there
- 22:25is peace the sooner this conscription will stop
- 22:29the regional territorial center of recruitment and social
- 22:33support Issued a statement on Thursday saying the
- 22:36claims of students being detained were untrue and
- 22:39Manipulative is what they say the men had
- 22:43been summoned to confirm their personal data But
- 22:46it turned out that three of them had
- 22:48not undergone the obligatory medical examination The Hungarians
- 22:52left the recruitment center as soon as the
- 22:54checkups were complete is what they say So
- 22:58who knows there are two sides well sometimes
- 23:02multiple million sides to every story That we
- 23:07wish to go through Let's see Remember me
- 23:15last night telling you about those horrible videos
- 23:18of The Ukrainians blowing up their own citizens
- 23:23trying to get to the Russian To the
- 23:27Russian side of the of the Frontline
- 23:37they were trying to get over there, and
- 23:38they blew him up right in the road
- 23:39well There's a large opinion piece that I
- 23:44encourage you to read you might go and
- 23:46check out Ukraine slaughters civilians again, and then
- 23:52blames Russia for it, and it's written by
- 23:55a Canadian journalist named Ava Bartlett, and so
- 23:59if you look her up She has done
- 24:06Military style coverage and conflict zones in the
- 24:11Middle East in Syria and Palestine and then
- 24:14in in Kiev well in Ukraine also and
- 24:21Basically I'll give a quick summary of the
- 24:24shocking video published on Russian media and telegram
- 24:27Showed the last moments of two civilians before
- 24:30they were killed by Ukrainian drones in Kupyansk
- 24:34east of the city of Kharkov The drone
- 24:37observed the first man carrying a white flag
- 24:40Universal sign for surrender I watched it is
- 24:43these are terrible or in the case of
- 24:45civilians that they pose no threat before flying
- 24:48right at him Blowing him apart and injuring
- 24:51the dog walking beside him who died as
- 24:54well The second civilian upon reaching the body
- 24:58of the first crossed himself and walked on
- 25:00he was praying on his knees Repeat crossing
- 25:03himself repeatedly as a drone hovered observing him
- 25:07and then went on to strike him blowing
- 25:08him apart as well Ukrainian media not for
- 25:13the first time blamed Russian drone operators Yet
- 25:17as Russian war correspondent Alexander Semenyov pointed out
- 25:21the men were walking east on a road
- 25:24in territory controlled by the Russian Army There
- 25:28are no targets for our drones on our
- 25:32rear roads and there cannot be He wrote
- 25:35predicting Ukraine propagandists would blame Russia for this
- 25:39crime as well In fact a week prior
- 25:44war correspondent Evgeny Podubny posted a video showing
- 25:49how a Russian drone operator Elsewhere in Kupyansk
- 25:52went out of his way to avoid scaring
- 25:55civilians The operator was searching for a military
- 25:58target But the first two crossed paths were
- 26:01two teenagers on a scooter in a second
- 26:04The drone stops moving to avoid frightening the
- 26:07young men after waiting for the scooter to
- 26:10leave The operator steered the drone in the
- 26:13opposite direction in the same post he noted
- 26:15a video was posted on social media by
- 26:17one of the teams teens who filmed the
- 26:20drone and Said thank you for a second
- 26:23life and the article goes on for you
- 26:27know, quite a few examples talks about Other
- 26:31examples of the same thing it's it's It's
- 26:37really horrible what is going on over there
- 26:42The neo-nazi problem that opinion was another
- 26:46that you should read that one's written by
- 26:48a political analyst called Nadezhda Romanenko and The
- 26:54videos are ridiculous in there and there's plenty
- 26:57of them with Zelensky over there presenting to
- 27:01swastika wear and an SS symbol wear in
- 27:04groups and it's I may share it with
- 27:10you further on down the Down the line
- 27:14here, but I wanted to cover a story
- 27:19that That I want, you know That wanted
- 27:25to get to something a little bit further
- 27:27afield and talk about the Chinese currency because
- 27:34remember I have I am of the belief
- 27:39and opinion that the Dollarization is coming.
- 27:46Anyway, that is what I Believe I believe
- 27:51Dollarization is on its way and I believe
- 27:56it's How do I how do you put
- 28:01it it's a foregone conclusion It's the other
- 28:04rest of the world is doing it and
- 28:06there was a recent story this one came
- 28:08out What was the date on this story?
- 28:14Darn it.
- 28:14It doesn't have it was in the last
- 28:16week and it's basically Kenya's conversion Kenya now
- 28:21is converting Chinese debt to its Currency which
- 28:28is the renminbi and It's economic You know,
- 28:33it's not saying they have strained u.s.
- 28:35Ties, but but get this it last month
- 28:39Kenya's Treasury secretary announced that the country converted
- 28:43three major Chinese loans from US dollars into
- 28:48their own currency So the original dollar loans
- 28:52were worth about five billion dollars when agreed
- 28:55with China their XM Bank in 2014 and
- 29:0015 the funds were used to pay Chinese
- 29:04contractors for construction of Kenya's standard gauge railway
- 29:10Connecting Mombasa with Nairobi now remember I talked
- 29:14about these sorts of these sorts of Infrastructure
- 29:19projects that China is making deals on all
- 29:24over the planet and I've done quite a
- 29:26bit of talking about So these funds were
- 29:30Where these loans started in 2014 and 15?
- 29:34While this is the first time that China
- 29:37has agreed to a currency conversion with an
- 29:40African country Ethiopia's move to initiate talks with
- 29:46Beijing on converting part of its own debt
- 29:49Suggests that others will soon follow The loan
- 29:53conversion will be seen as both a sign
- 29:56of a Kenyan pivot towards China and as
- 29:59a milestone for Chinese efforts to internationalize its
- 30:03own currency But this move comes as JD
- 30:07Vance Reportedly plans to visit Kenya in late
- 30:11November.
- 30:12He'll be the first US vice president to
- 30:14do so since 2010 and it could be
- 30:18seen as A Exacerbating already strained u.s.
- 30:26Kenya relationships, but such narratives are too quick
- 30:28to attach a wider geopolitical attention to Kenya's
- 30:33economic program Kenyan president Ruto is pursuing interlinked
- 30:40goals of economic stability and political survival ahead
- 30:44of his own election in 2027 so when
- 30:47Kenya is hit by a wider withdrawal of
- 30:49u.s. Initiatives in Africa the closer Kenya
- 30:52China relations are primarily reflect flexion of Kenya's
- 30:56government economic goals rather than a rejection of
- 31:00the dollar I'm not sure that I that
- 31:03I agree with that because it still is
- 31:06a continual path down the road of I
- 31:11Don't want to call it De-dollarization, but
- 31:13of using your intern your your own currency,
- 31:16and that's a big deal So the conversion
- 31:19of the outstanding loan principle is 3.5
- 31:23billion It's above you know above all it's
- 31:26a it's a move to reduce the pressure
- 31:28of Kenya's debt burden Which has doubled as
- 31:31a share of D GDP in the last
- 31:3410 years so China is by far Kenya's
- 31:39largest creditor You know But this commercial borrowing
- 31:45and loans account for a high overall share
- 31:48of Kenyan debt But Chinese railway loans have
- 31:52proven You know that they're That they help
- 31:57build this infrastructure, but the interest rates have
- 32:00gone up So two of the loans were
- 32:02set at three and three point six percent
- 32:04above the US market rate So in the
- 32:07five-year grace periods expired in nineteen and
- 32:09twenty so a total interest cost was around
- 32:12four percent So the conversion into renminbi shifts
- 32:16them into China's lower interest rates of three
- 32:19percent So China is encouraging these people to
- 32:22refinance their debt.
- 32:23This is all pressure on the dollar to
- 32:27and China is I don't want to call
- 32:32it predatory But they're doing they're doing some
- 32:35very interesting things to make sure that this
- 32:38happens Kenya's fiscal challenges Which led to the
- 32:41government?
- 32:42attempts to impose higher taxes under Guess what?
- 32:47international monetary fund conditions that were put into
- 32:51place or a catalyst for a major youth
- 32:54-led protest in 2024 and President Ruto's government
- 32:59is aware of similar triggers and has scrambled
- 33:01to reduce liquidity pressure which lessens the urgency
- 33:04to agree to new IMF programs Excuse me
- 33:11Savings on interest costs with China are just
- 33:14one element of Kenya's strategy to manage its
- 33:17own debt Which draws upon diverse international partnerships
- 33:20equally critical have been to 1.5 billion
- 33:24euro bond issuances this year and a UAE
- 33:27backed commercial loan as well So they have
- 33:30those and I wanted to dig further into
- 33:33some of those some of those Financial issues
- 33:41and so I got a couple of topics
- 33:43that I wanted to get to and I'm
- 33:44not sure how long they will take to
- 33:48get through them, but I have a decent
- 33:50amount of Of Content on these and I
- 33:56wanted to start with I think I'm gonna
- 34:00start on USAID because I went back and
- 34:04did a Segment a little bit of research
- 34:09trying to find out what's going on in
- 34:12the Legislative branch trying to fund these N
- 34:20GO's and things that used to be funded
- 34:22by US Agency for International Development including Rubio
- 34:27stating that a lot of these sorts of
- 34:30things have been taken over and transferred to
- 34:32the State Department because I think this is
- 34:34important stuff and And I want to see
- 34:38it go away, but I'll Being a doubting
- 34:43Samuel, I believe that a lot of this
- 34:46is just going to be still funded either
- 34:52directly by Congress all these NGOs or On
- 34:57the sly still through the State Department budgets
- 35:00and which seems to be the case So
- 35:02I've got a little bit to go through
- 35:05for you here So, let's start with the
- 35:09world's reaction to Washington pulling the plug on
- 35:13USAID after the old Trumpster Who took office
- 35:19in in January?
- 35:22and on January 20 the White House froze
- 35:25most foreign aid for a 90-day review
- 35:28and Within weeks the administration began ripping out,
- 35:32you know All kinds of funding and plumbing
- 35:36Terminated the vast majority of USAID programs and
- 35:39shifted the other parts under the state by
- 35:42March the number That everyone quoted was pretty
- 35:47much the same 83% of US Agency
- 35:51for International Development's programs were gone That's you
- 35:56know It's a pretty good amputation of u
- 36:00.s. Development capacity within a number of weeks
- 36:04Independent trackers started laying out timelines European analysts
- 36:08noted a gap that nobody could fill on
- 36:11such short notice Even federal judges were trying
- 36:15to get the administration to zero out appropriated
- 36:19funds You know, but the machine wasn't just
- 36:23turned off.
- 36:24It was Dismantled and wheeled out of the
- 36:27building.
- 36:27I mean is gone is is what everybody
- 36:30says But the rest of the world reacted,
- 36:34you know, well in various ways, but most
- 36:40mostly not no applause I Was applauding it.
- 36:45I gotta tell you but around the world
- 36:47there was alarm Resignation and a good amount
- 36:51of people saying we told you so that
- 36:54you know, you can't trust the u.s.
- 36:55Basically.
- 36:56Well, yeah, but it's a freaking NGOs Who
- 37:01in the world said that they should be
- 37:03funded by the government outside of anything having
- 37:07do I still?
- 37:07appreciate the argument and how all this nonsense
- 37:10went down for so many years, so A
- 37:14European foreign policy people, you know, they were
- 37:17pretty brutal, you know about it the u
- 37:20.s. Is abandoning us abandoning a key tool
- 37:23of influence, you know, and there's a crises
- 37:26that are stacking up, you know, the the
- 37:28European Council on foreign relations said that Retrenchment
- 37:33is gonna boomerang as humanitarian shocks and political
- 37:37instability land on Europe's doorstep Yeah, but why
- 37:40should the u.s. Fund all that?
- 37:42That's what I want to know European Parliament's
- 37:45and think tanks You know was said that
- 37:47by mid-march They said 83 percent of
- 37:51USAID programs were shut and a 60 billion
- 37:55dollar gap Was out there when they admit
- 37:59the EU couldn't pay Because it had its
- 38:03own budget problems translation Washington created a vacuum
- 38:07and Europe can't fill it overnight.
- 38:09Well, I don't understand why we should pay
- 38:12for all this crap anyway editorials and briefings
- 38:15across the world said it was You know
- 38:19strategic the Guardian called out the geopolitical cost,
- 38:23you know Of course, they say they're losing
- 38:26ground to competitors who they also published reporting
- 38:30from West Africa that complicates the saintly image
- 38:34of big-box aid That you know Europeans
- 38:38aren't romantic about, you know development But they're
- 38:41they they sure like what it buys in
- 38:44their own influence, right?
- 38:46And they see the u.s. Dumping a
- 38:48tool.
- 38:49It spent decades Refining but it's not refining.
- 38:52It's a bunch of criminals, you know that
- 38:54they pay themselves these inflated salaries They they
- 38:58take college kids and instantly give them two
- 39:01to three hundred thousand dollars a year for
- 39:03crap jobs All you got to do is
- 39:06go over and be a social media Influencer
- 39:09in Ukraine and they pay you but tons
- 39:11of money.
- 39:11It's nonsense so Africa says the African press,
- 39:17you know for them.
- 39:18It's you know anger They Balance basically up
- 39:24over here yawn, and I'm really sorry to
- 39:26to two basic truths one The cuts definitely
- 39:29hurt and to over reliance on US pipelines
- 39:33was always a risk the Daily Maverick did
- 39:36modeling and warn the math was ugly millions
- 39:38shoved toward extreme poverty as the program money
- 39:43Evaporated now, I disagree with that, you know
- 39:46millions of people shoved toward extreme poverty They
- 39:49weren't saving the poverty.
- 39:50It'd be different if they were something being
- 39:53done but it's just handout money and a
- 39:56tenth of what it ought to be because
- 39:58the cost of these NGOs was all extremely
- 40:01top-heavy and all these people that pocketed
- 40:04all kinds of money and and then they
- 40:06would you know all of the funding thing
- 40:08that Rubio would talk about or anybody would
- 40:10talk about doge would talk about when when
- 40:13they were Starting these issues and you know,
- 40:17I'm frankly glad it happened three years from
- 40:19now.
- 40:20Oh, it'll be back and they're trying to
- 40:22do it even now, so but it's it's
- 40:26I Don't know the East African clocked the
- 40:31politics taking all assistance on day one Jolted
- 40:35governments and NGOs that run on predictable cash
- 40:39flow.
- 40:39Yeah Free money basically Columnists called for you
- 40:45know, getting rid of donor dependence and building
- 40:47domestic revenue, but they said that's a long
- 40:50way away So right now They say Africa
- 40:53still needs free money.
- 40:55I don't I don't agree with that Reuters
- 40:59string of Dispatches from Haiti to southern Africa
- 41:04says that clinics are shutting down on Fridays
- 41:07Malnutrition screenings are suspended in HIV and TB
- 41:11lines aren't always You know getting covered because
- 41:14the funding is walking away UNICEF warned of
- 41:17a 20% budget drop by 2026 with
- 41:21US cuts as a central driver, but why
- 41:23in the world are we paying for all
- 41:25this?
- 41:25Why what I mean, I don't understand that
- 41:28the World Health Organization Flagged TB response in
- 41:34high-burden countries where USA ID had paid
- 41:38over a quarter of the costs historically For
- 41:43that yeah, but it cost three times that
- 41:46to pay all the salaries of the DNC
- 41:48that are doing it So how about let's
- 41:51talk about some faith-based in humanitarian people,
- 41:55you know that I wanted to find out
- 41:56about that They're basically saying people are gonna
- 41:59die because of a policy changes Caritas internationales,
- 42:05which is the Vatican's global charity network?
- 42:09said catastrophic reckless and warned that abrupt shutdowns
- 42:14would kill people Amnesty International called the cuts
- 42:18chaotic and they documented studies where life-saving
- 42:22services were frozen midstream But again, nobody ever
- 42:28says why the u.s. Has to be
- 42:30the one to fund this I am UNICEF
- 42:35said fewer vaccines fewer kids in school less
- 42:39protection from trafficking and recruitment you don't have
- 42:43to agree with that, you know, but When
- 42:46when the biggest donor?
- 42:49jolts the system They say that the people
- 42:53on the margins, you know that are in
- 42:55these extremes Scenarios that they pay the most
- 42:58and they pay first.
- 42:59I Disagree, I think the people that are
- 43:02the top heavy ones pay first and they
- 43:05you know, but they've got so much money
- 43:06It doesn't freaking matter most time.
- 43:08They just move on to the next freebie
- 43:10job where you don't have to do anything
- 43:11You know high paid high paid do-gooder,
- 43:15right?
- 43:15What kind of job is that?
- 43:17Seriously how hard can it be to distribute
- 43:20free money and keep a hell of a
- 43:22lot of it for yourself, right?
- 43:25Anyway, I'm probably bitching that I shouldn't be
- 43:27bitching about because it's probably not all that
- 43:30terrible But I'm telling you there are many
- 43:33many many of these programs are just crap
- 43:36And we all know that Let's see Development
- 43:41watchers people who actually read spreadsheets said that
- 43:45this wasn't about You know tweaking priorities the
- 43:51Kaiser Family Foundation compiled the freeze the cancellation
- 43:56the Relocation to being under state and the
- 44:02knife fights, you know in court over rescission
- 44:06Analysts at the Center for Global Development have
- 44:09country and sector level estimates based on leaked
- 44:12termination list and The conclusion was pretty consistent
- 44:17for these guys.
- 44:19It's a cliff not a slope I mean,
- 44:21they're just cutting it and frankly, you know
- 44:24if you're gonna get rid of it Anyway,
- 44:26probably, you know, just like in Seinfeld, you
- 44:29know when Seinfeld George we're talking about getting
- 44:32rid of a girlfriend Like a band-aid
- 44:35rip it off.
- 44:36Yep, rip it off be done with it.
- 44:38So let's talk about u.s. Courts in
- 44:40Congress, right?
- 44:42the subplot so while the executive branch of
- 44:45you know, unilaterally cut off millions courts tried
- 44:49and still are To challenge the idea that
- 44:53the president can cancel Congressionally appropriated funds by
- 44:57running out the clock with rescission Reuters coverage
- 45:01said judges tapped on the brakes, but the
- 45:04relief was partial and they didn't Force the
- 45:06administration to restart canceled contracts Congress is split
- 45:11some try to keep discreet lines alive global
- 45:15health here refugee fund there But the administrative
- 45:18machinery that runs those lines the NGOs parts
- 45:22anyway had already been gutted So, you know
- 45:27And hopefully this will stick, you know and
- 45:29I'm wondering because you want to see my
- 45:32main my main theory was that it the
- 45:35the a-holes in the Legislative branch are
- 45:41just gonna refund it Directly instead of doing
- 45:44it, you know They'll refund these NGOs with
- 45:47government money and do the exact same thing
- 45:50With zero oversight just like it was before
- 45:53with no no controls of any kind just
- 45:56hand money to you know, whatever whatever Senators,
- 46:02you know nephew is running whatever, you know
- 46:04global recipient of free money at a huge
- 46:09salary and then passing on a tiny portion
- 46:12to People that are in need and get
- 46:15in are supposed to be the ones getting
- 46:17the bulk of the money Doesn't appear that
- 46:19way let's talk about the China and Russia
- 46:23Angle what they have said so Beijing says
- 46:27that the shutdown, you know in this getting
- 46:30rid of the NGOs and stuff is proof
- 46:34That the u.s. Only funds you funds
- 46:39these things when it's convenient They said that
- 46:43the u.s. Closure show that America is
- 46:46turning inward Well, maybe that's partial and they
- 46:50called it a win-win Whether you buy
- 46:54that or not It's cheap for them to
- 46:56say, you know, and it's expensive to counter
- 46:59it once you you know, shut off your
- 47:01own NGO Funding so Chinese commentators didn't need
- 47:07to you know They note that less US
- 47:10money in global media and civil society means
- 47:13fewer critical stories about China in Western Outlets,
- 47:17so it's a self-inflicted information deficit, so
- 47:22You know, it's a For the u.s.
- 47:25Says the u.s. Is all about, you
- 47:27know telling these whatever Lies they wish to
- 47:31do over the planet and and you know
- 47:35and a lot of it has to do
- 47:37with these extremely left-wing Things that none
- 47:43of us support anyway Well, let's see, but
- 47:48it does it's definitely Uncomfortable for the aid
- 47:51lobby these days and that makes me happy
- 47:54some African reporting and commentary argue that that
- 47:58big NGOs Grabbed most of the money drove
- 48:01up local salaries and then the when the
- 48:06grants were over they you know, it wasn't
- 48:09that big of a It wasn't as big
- 48:12as it could have been because the money
- 48:14wasn't getting there Anyway, all of these people
- 48:17were having these huge salaries because they were
- 48:19NGO guys the Guardian Described These West African
- 48:27voices as stop start aid packages and broken
- 48:31promises Yeah, the u.s. Exit was a
- 48:34strategic goal and yes the old models Were
- 48:39paternalistic and both are True together is what
- 48:44the Guardian said and so, you know Everybody
- 48:48you can understand both points of view you
- 48:51can understand that Okay, maybe that maybe there's
- 48:54some people that you would prefer to help
- 48:57aren't getting help But I look at it
- 49:00as more of a point of view Well,
- 49:01the the system itself was so cocked up
- 49:04Why in the world would you want to
- 49:05continue to fund it the way that the
- 49:08way that it has been being funded?
- 49:10so, I don't know the Where are we?
- 49:17Who warned that TB programs will slip quickly
- 49:22without u.s. aids one-fourth share of
- 49:27Donor funding in the Washington Post said the
- 49:31axe coming over the u.s. Pledge Threatened
- 49:35childhood immunization pipelines that according to them saved
- 49:40tens of millions of lives, right so we're
- 49:45just supposed to pay for this forever because
- 49:49Tens of millions of lives are out there.
- 49:52We're supposed to do this, right?
- 49:54What about the rest of the world?
- 49:56You know, where does the rest of the
- 49:58money come from?
- 49:59Why is our percentage so high?
- 50:02That's what I want to know UNICEF said
- 50:06tell it said budget shrinkage and program triage
- 50:10coming in 2025 and 26 But I want
- 50:16to know where it's coming from, you know
- 50:18where that and and I haven't seen it
- 50:19I wanted to have a look at You
- 50:23know, if you want the policy All I
- 50:25wanted to do is do it legally one
- 50:27theme in foreign coverage everywhere that American Audiences
- 50:32sometimes miss is Process does matter because it
- 50:39signals reliability When u.s. Court say the
- 50:42White House can't time out Congress's purse power
- 50:46editors and other capitals Similarly say well, yeah,
- 50:52they don't it's not because they love the
- 50:54process because they just want something more Predictable
- 51:00What about us wanting something more predictable?
- 51:04What about us wanting to know where why?
- 51:09We have no programs that take care of
- 51:12our own people But all the money all
- 51:14over the world is supposed to come for
- 51:16us from us to take care of everyone
- 51:18else What do we do for our own
- 51:21here?
- 51:21Not enough?
- 51:23You know Anyway businesses NGOs and ministries, you
- 51:28know, they budget on multi-year cycles, so
- 51:34they want to they're trying to regroup and
- 51:39use European Chinese Gulf state financing and things
- 51:45like that, but these are these aren't as
- 51:51For my view these are not as easy
- 51:53So every time I go through and I
- 51:56read all these stories about where the money
- 51:58is gone and what it's happening it's always
- 52:00it's always an Expectation that the u.s.
- 52:06Is supposed to we have to be Consistent
- 52:08we have to consistently fund all of these
- 52:11programs.
- 52:12Why?
- 52:14Why do we have to consistently fund them
- 52:19I Tell you what, you know There were
- 52:24talks remember all the talks about stopping and
- 52:27starting in the waivers that they wanted to
- 52:29be granted field teams were told that emergency
- 52:32exceptions existed, but then the They were not
- 52:37paid anyway And they were Trump didn't want
- 52:41to pay them and get rid of it.
- 52:43That's refugee stories from the New York Times
- 52:46back in February You know, they froze money
- 52:50and then didn't give it to him Contractor
- 52:52and local staff layoffs man.
- 52:54This was awesome.
- 52:55I thought it was great So drivers were
- 52:58read hired to let go nurses shifted to
- 53:00private clinics Project vehicles were parked in West
- 53:04Africa that it was the the clinic no
- 53:08longer running on the weekend This is the
- 53:10Guardian saying, you know that story research and
- 53:14trials paused You know New contracts new ways
- 53:22to get him says Reuters says USAID would
- 53:26take at least on the tuberculosis side that
- 53:30it would take literally six to eighteen months
- 53:33to rebuild the structure that was there because
- 53:36of the freebies that The u.s. Was
- 53:40passing out and the UN Agencies are trying
- 53:44to figure out how to do this UNICEF
- 53:47and others are cutting programming and staff UN
- 53:51system is not a bottomless pit, you know
- 53:57But American money is Whenever you read these
- 54:01things like geez look what America did and
- 54:04it didn't that's it It's oh, it's never
- 54:07anything except gee there was all this free
- 54:09money and now there isn't that that's it
- 54:12And so Trump is all guilty.
- 54:14I like that.
- 54:15It was that it was taken out.
- 54:17So let's say There's there's a couple other
- 54:22things even the president called the impacts Devastating
- 54:26at one point and insisted that others should
- 54:29pick up the tab and I happen to
- 54:32agree with that thought processes court courts blocked
- 54:35some of the cancellations state of The Secretary
- 54:40of State's office carved out small exceptions, you
- 54:44know there were some of these things that
- 54:46still continued to work, but none of the
- 54:49huge headlines chained in the it changed in
- 54:52the 83% is a very serious number
- 54:56that those programs were really taken apart And
- 55:00I remember watching Rubio a little bit later
- 55:03In April, I think it was where he
- 55:07was saying well we've brought some of the
- 55:11programs that we wish to keep are Coming
- 55:14under the Department of State and they will
- 55:16have some oversight they will have some review
- 55:19some direction from the government and not just
- 55:23NGO people doing what they want, you know
- 55:26jacking up salaries for people that run them.
- 55:29So What about the partners let's talk about
- 55:33foreign ministers and finance people That you know,
- 55:38they don't They want to watch money people
- 55:41and logistics.
- 55:42So here's what they're saying in Nairobi Pretoria
- 55:46Lima, Jakarta US reliability is in question not
- 55:52because a single budget line moved but because
- 55:55the entire delivery platform was scrapped well You
- 56:01did anybody think that the u.s. Will
- 56:04just start all this up when the old
- 56:06trumpsters gone from office I Think it'll go
- 56:11back to The way things were sadly I
- 56:15really do You know allegedly Europe is attempting
- 56:20to replace some of the With its own
- 56:24politics and fiscal rules and things like that,
- 56:27but they don't have the money for it
- 56:29And we don't either by the way, who
- 56:31does have the money China is starting to
- 56:34fill some of the gaps and they You
- 56:38know, they are advertising Their own development models
- 56:43in the PRC state media is already Rolling
- 56:47out a number of these sorts of programs
- 56:50to fill it in and do a lot
- 56:51more on the especially in the global South
- 56:56so, I don't know it's I Say aid
- 57:01isn't charity.
- 57:03It's supposed to be an instrument for change
- 57:07so You know don't act surprised when other
- 57:12When a country takes it away, you know
- 57:14if they can't afford it Well if the
- 57:17instrument of change should be in the United
- 57:20States first, don't you think I sure do
- 57:23If it's our money, why are we funding
- 57:26weirdo programs?
- 57:28And I don't know Zimbabwe, you know, and
- 57:31I made that up I don't know of
- 57:32any in specific but Rubio had lists and
- 57:35lists of them that he was reading because
- 57:37remember he had that one It's one of
- 57:38my favorites to watch of him when he
- 57:42was interviewed on Capitol Hill and one of
- 57:45the senators go I I wish I could
- 57:48withdraw my vote for voting for you.
- 57:50And he said well, I brought the numbers
- 57:52He goes tell me what potential?
- 57:55Good, we got out of funding I Don't
- 57:59know Kindergarten drag shows or whatever and I
- 58:03don't remember the exact ones kindergarten drag shows
- 58:06that took a place In this country or
- 58:09whatever, but the old model was just rot.
- 58:12It was rotted It was bloated you'd have
- 58:16fly-in consultants You'd have starting and stopping
- 58:19that but you know, they said it before
- 58:21we did the inefficiency Was huge and the
- 58:26demolition frankly needed to happen, you know The
- 58:33courts, you know the courts didn't give these
- 58:36people what they wanted on this day They
- 58:38said that the US Constitution still means something
- 58:41in appropriations But it didn't put field nurses
- 58:44back on payroll.
- 58:46You know what I mean?
- 58:47So What does the replacement actually look like
- 58:51of the 17?
- 58:51After the 17 Percent
- 59:02went back to the Secretary of State's office.
- 59:06So the state's Office of Foreign Assistance Still
- 59:11does a bit of Some of the things
- 59:14that were removed public diplomacy media crowds, you
- 59:18know You can still push for more money
- 59:20But as the development trades have said in
- 59:23plain English That is certainly not a one
- 59:26-for-one swap of USAID's project design then
- 59:29which had contracting Field presence all these other
- 59:34things you can outsource some pieces, but you
- 59:37can't outsource the institutional money or relationships That
- 59:43is what the foreign commentariat kept circling back
- 59:46to So even if they could open these
- 59:52Pipelines, I suppose you could call them later
- 59:54the people this this this was a a
- 1:00:00Hand grenade thrown into the entire system.
- 1:00:03Frankly.
- 1:00:03I loved it And so I will you
- 1:00:05know, what what is the next you know
- 1:00:07that that foreign capitals are are gaming on
- 1:00:11they're saying that TB and immune is immunization
- 1:00:14is recovering but it'll take longer to get
- 1:00:17there through Who and UNICEF and they've already
- 1:00:21adjusted their expectations downward because the u.s.
- 1:00:24Isn't just funding at all USAID's Media lines,
- 1:00:29that's what I wanted to get rid of
- 1:00:31those are gone So the National Endowment for
- 1:00:34Democracy though is funded straight through Congress now
- 1:00:37again But smaller they are a little bit
- 1:00:42smaller so fewer fewer Propaganda outlets on the
- 1:00:47u.s. Side and people are taking some
- 1:00:50notice on that European Council on foreign relations
- 1:00:53Ours are saying that the EU should step
- 1:00:56up amid foreign aid cuts from the Trump
- 1:00:59administration, so I Don't know in one of
- 1:01:03the stranger turns the president called the downstream
- 1:01:07effects devastating like I told you before even
- 1:01:11while they were still looking to do deeper
- 1:01:13cuts and you know, it's They want to
- 1:01:17get rid of them.
- 1:01:18So I mean there was there's plenty to
- 1:01:20see in that but it looks like it's
- 1:01:24been pretty damn complete and I I Like
- 1:01:29it that it that it is staying that
- 1:01:33way and You know, I wanted to talk
- 1:01:36about that But I also wanted to dig
- 1:01:38in a little bit if I could Into
- 1:01:42because I started with that Kenya story about
- 1:01:46swapping the Chinese debt into its own currency,
- 1:01:52which is actually not quite De-dollarization, but
- 1:01:58it will have an impact and the fact
- 1:02:01that a couple other countries are doing the
- 1:02:03same thing.
- 1:02:04So Who's likely the next ones?
- 1:02:07I did a little bit of research on
- 1:02:09that and what did Kenya actually do?
- 1:02:12They converted the big standard gauge railway loans
- 1:02:18From US dollars to their own currency and
- 1:02:22that helped them lower the interest costs of
- 1:02:25their own loan and The annual savings was
- 1:02:29about two hundred and fifteen million dollars, right?
- 1:02:34business daily Africa ran the math and said
- 1:02:37that this is Economically good for them.
- 1:02:41This is why they are doing it and
- 1:02:42you're gonna run into more and more of
- 1:02:44this Because interest rates in China are far
- 1:02:47lower than they are here why this makes
- 1:02:51sense for They're saying that Nairobi is gonna
- 1:02:54have this issue because federal driven US dollar
- 1:02:58rates Are killing budgets right China has to
- 1:03:04trade rate cuts so they give a rate
- 1:03:07cut to switch to the the Local currency
- 1:03:12so that is I mean, it's a hell
- 1:03:14of a plan and it means well Remember,
- 1:03:19we're still in negotiation with China.
- 1:03:21Things aren't things aren't all that wonderful.
- 1:03:24Oh, by the way, did you see the
- 1:03:25the Jaishankar video where he came out and
- 1:03:30he said and he did it again and
- 1:03:32I love listen to that guy You should
- 1:03:34go out and look at it on YouTube
- 1:03:35and see I'll see if I can find
- 1:03:36it and play it for you on Sunday
- 1:03:38night, maybe they'll I'll do a bit of
- 1:03:40a bit more of a deep dive into
- 1:03:42that because he was talking about Even after
- 1:03:47all of the attacks on India by President
- 1:03:51Trump over the last several weeks That India
- 1:03:55isn't the largest Purchaser of Russian oil and
- 1:04:02gas oil is China gas is still Europe
- 1:04:08That buys over from and that's not India
- 1:04:12And so he they're the ones taking all
- 1:04:14this attention and it was a pretty good
- 1:04:16a pretty good It was only a five
- 1:04:20-minute speech by him, but it was a
- 1:04:22it was a pretty powerful and you know
- 1:04:24once again, he he did pretty well, anyway,
- 1:04:27let's get back to the debt switch and
- 1:04:30what's happening with these debts because remember a
- 1:04:33Lot of debt why why are people getting
- 1:04:36debt not from the International Monetary Fund not
- 1:04:39from the World Bank and they're getting them
- 1:04:41direct from China's belts and roads initiatives or
- 1:04:46through other funding direct funding of projects straight
- 1:04:52up by the various banks in China Well,
- 1:04:58they're doing it because China doesn't demand That
- 1:05:03they I Don't know back Gaze or whatever
- 1:05:08that you have to that you have to
- 1:05:10accept these other conditions in order for the
- 1:05:12IMF to fund you or to recommend funding
- 1:05:17so China doesn't do that.
- 1:05:20And so now they have a lot of
- 1:05:21debt out there that they own from other
- 1:05:24countries and The they're encouraging them just like
- 1:05:28they did in Kenya.
- 1:05:29They're encouraging them to swap and switch to
- 1:05:36Their national currencies but trading in their own
- 1:05:40national currencies Which is becoming easier and easier
- 1:05:43as they go and if it's saving like
- 1:05:46it did in Kenya 213 215 I'm sorry
- 1:05:50million a year Hell, why wouldn't you do
- 1:05:54it?
- 1:05:55You know instead you're gonna stay in the
- 1:05:57dollar.
- 1:05:57What's Trump gonna do about that one?
- 1:05:59The dollar is What this is this is
- 1:06:03gonna this will cause it to take a
- 1:06:05bit of a hit, you know over time,
- 1:06:07so let's see and The Fed rates, you
- 1:06:11know, the US dollar rates are still hurting
- 1:06:14and Kenya and China linked imports Are now
- 1:06:18going to be paid in RMB and that's
- 1:06:23according to a lot of think tanks including
- 1:06:24one of them that Chatham house, too So
- 1:06:27the RMB markets are getting thinner for you
- 1:06:32know less costly for African countries and No
- 1:06:37matter how you slice it Their funding is
- 1:06:40still less costly than the US dollar alternatives
- 1:06:44through IMF and World Bank so If a
- 1:06:48government's hard currency are mostly US dollars and
- 1:06:51euro switching debt To Into Chinese money
- 1:07:02Doesn't eliminate in all currency risk, but it
- 1:07:05certainly lessens it.
- 1:07:06So who else is moving towards these?
- 1:07:09Let's let's get a bit of a list
- 1:07:10here.
- 1:07:11Okay?
- 1:07:12because We want to know if it's d
- 1:07:15dollarization or if it's just smart finance It
- 1:07:18appears to me to be the smart financing
- 1:07:20if it's going to save you 213 Million
- 1:07:24a year, of course, you're gonna do it
- 1:07:26if all things else being equal, right?
- 1:07:29So let's look at Ethiopia in formal talks
- 1:07:32with Beijing to convert parts of of its
- 1:07:35own 5.38 billion China debt There they're
- 1:07:39in that conversation right now, and if they
- 1:07:42do swap that it's gonna save them Probably
- 1:07:45double what it's gonna say what it's saving
- 1:07:48currently in Kenya.
- 1:07:49So Ethiopia definitely Indonesia is planning to debut
- 1:07:54offshore Bonds with China and talking with China
- 1:08:00about Refinancing all its own high-speed rail
- 1:08:03debt.
- 1:08:03That's Bloomberg is reporting that Bloomberg's the one
- 1:08:06who reported the Ethiopian talks with China to
- 1:08:10convert dollar loans to you on and the
- 1:08:13same thing This is in mid-october the
- 1:08:16same thing Indonesia plans to do Debut yuan
- 1:08:20bonds same thing Egypt Memorandum of understanding already
- 1:08:25exists to expand local currency settlements and explore
- 1:08:31Chinese cooperation Chinese Development Bank is what that
- 1:08:34is a pipeline step for liquidity in North
- 1:08:38Africa That's that's Egypt there Egypt's doing it
- 1:08:41too And so China keeps widening these lines
- 1:08:46and clearing houses and publicity Pushes all across
- 1:08:50all kinds of borders and that that one
- 1:08:53was brought to you by Reuters that that
- 1:08:56was It was initially in April, but it
- 1:09:01was updated in late August that story So
- 1:09:05again, there's the the question.
- 1:09:07I wanted to know is is this real
- 1:09:09d dollar a d dollar ization?
- 1:09:12or Smart refinancing or is it refinancing that
- 1:09:17just results in d dollar ization?
- 1:09:20But it's the same effect no matter how
- 1:09:22you slice it anyway, right?
- 1:09:27Let's go through the payments the RMB still
- 1:09:31sits around about all Global Payments and they
- 1:09:37keep they are going up there There at
- 1:09:413% reserve share is still 2%
- 1:09:45of disclosed global Financial reserves and that's according
- 1:09:49to the IMF and the Fed so the
- 1:09:52dollar is still the big dog That's not
- 1:09:54anything that people don't but for a handful
- 1:09:58of debt stressed countries with major China Exposure
- 1:10:01chop swapping to the yuan can produce real
- 1:10:05cash flow Relief which is why can you
- 1:10:09did it and Ethiopia and Egypt are In
- 1:10:14Indonesia are probably going that way, too so
- 1:10:20Huh, I Find it very interesting that this
- 1:10:24is what they are doing.
- 1:10:26Oh, and I forgot I found one more
- 1:10:28little comment that What because I wondered if
- 1:10:35there were still any Man I can't believe
- 1:10:39I forgot this points at the bottom of
- 1:10:41my my bricks because I'm such a bricks
- 1:10:44a bricks Connoisseur and have a look at
- 1:10:50it.
- 1:10:50I wanted to know if u.s. Funds
- 1:10:53we're still NGOs or Or think tanks or
- 1:10:58whatever funded by the u.s. That there
- 1:11:03are still NGOs that Counter bricks that are
- 1:11:07attacking bricks and that answer turned out to
- 1:11:11be yes national endowment for democracy and several
- 1:11:16others still get grants to attack bricks countries
- 1:11:23and the bricks discussions, so They're not as
- 1:11:28large as they used to be they're down
- 1:11:30post USAID for international development, but they're not
- 1:11:34gone so there's still plenty of anti bricks
- 1:11:41info Being pushed out these days but USAID
- 1:11:49agency for international development is Hopefully not coming
- 1:11:56back anytime soon So there you have it
- 1:12:03Let's see, there were a couple other good
- 1:12:06stories I wanted to get to on these
- 1:12:08opinion pieces especially there's quite a bit of
- 1:12:14Discussion about New York going on around the
- 1:12:19world People are talking about this I'm sure
- 1:12:24people if they've paid any attention to anything
- 1:12:27at all Trump saying that people are going
- 1:12:31to be fleeing the communism in New York
- 1:12:35City, right and It's it's a very interesting
- 1:12:44story that came out this evening by a
- 1:12:48guy named Graham Hurt said as I think
- 1:12:52how you say it he's for an Australian
- 1:12:53journalist and a media lawyer And so this
- 1:12:59week This and he is this this guy
- 1:13:02is young this Zoran Mamdani And I don't
- 1:13:05I I knew nothing about him until they
- 1:13:08were all talking about it All talking about
- 1:13:12it on election day So mom dummies victory
- 1:13:16was nothing to write home about his main
- 1:13:19opponents were the aging and tarnished Former Democratic
- 1:13:23governor Andrew Cuomo who has been plagued by
- 1:13:27sexual harassment claims for years and the uninspiring
- 1:13:31Republican Curtis Silva in an election characterized by
- 1:13:36record voter turnout over two million New Yorkers
- 1:13:41voted Mom, Donnie won with 51% of
- 1:13:46the vote Cuomo received 42% and Silva
- 1:13:50got 7% What makes the victory?
- 1:13:54significant is that he is self-styled as
- 1:13:59a Democratic Socialist and he was Elected mayor
- 1:14:04without being endorsed by the Democratic Party leadership.
- 1:14:08Most of whom including Chuck Schumer Refused to
- 1:14:13endorse him at all Mom Donnie is a
- 1:14:1734 year old Muslim of Indian heritage who
- 1:14:21was born in Uganda His father is a
- 1:14:24prominent black studies academic and his mother is
- 1:14:27an acclaimed filmmaker So mom Donnie a former
- 1:14:31celebrity rapper social worker and state assemblyman ran
- 1:14:36on a left-wing populist program that focused
- 1:14:39exclusively on Alleviating cost-of-living pressure for
- 1:14:43ordinary New Yorkers He promised to deliver rent
- 1:14:47freezes free public transportation free childcare City owned
- 1:14:52grocery stores and universal health care He promised
- 1:14:56to build 200,000 affordable new houses with
- 1:14:59union labor.
- 1:15:00I wonder how he's gonna pull this off
- 1:15:03Whether he can actually he implement this program
- 1:15:06is by no means Clear New York City
- 1:15:10is five billion dollars in debt and the
- 1:15:13New York State Government and governor can severely
- 1:15:17limit what a New York mayor can do
- 1:15:19But mom Donnie is a strong critic of
- 1:15:22America's support for Netanyahu and Zelensky so I'm
- 1:15:26for him for that and has stated explicitly
- 1:15:29that he would fund his reforms by increasing
- 1:15:33taxes on New York based Corporations and the
- 1:15:37ultra-rich that control them.
- 1:15:40So the program Contrasts with my MAGA for
- 1:15:46sure and which is based on magical thinking
- 1:15:50demonizing America's supposed internal enemies and leaving America's
- 1:15:55economic structure and whiting inequalities of wealth intact
- 1:15:59now, I don't agree with that sentence, but
- 1:16:02It's still part of this article that I
- 1:16:05am that I am What do you call
- 1:16:08it commandeering?
- 1:16:09Mom, Donnie maintained throughout the campaign that unlike
- 1:16:13Trump I can deliver for the working-class
- 1:16:18He you know if his economic program was
- 1:16:21implemented It would benefit those groups that he
- 1:16:25represents in any rational view cost of living
- 1:16:28pressure on ordinary Americans can only be relieved
- 1:16:31by redistributing wealth Downwards from the haves to
- 1:16:35the have-nots But some left-wing commentators
- 1:16:38have seen mom Donnie's rapid political ascendancy is
- 1:16:43a transformation of the Democratic Party into a
- 1:16:46party that is as it once was focused
- 1:16:50on representing the traditional working class and other
- 1:16:54groups in society that have been pauperized and
- 1:16:59alienated by Globalization interesting take right-wing commentators
- 1:17:06say that mom Donnie's a communist a terrorist
- 1:17:09sympathizer an Anti-semite and see him as
- 1:17:13a dangerous threat to America.
- 1:17:16I Don't know but this lady thinks that
- 1:17:20These views are fundamentally mistaken He is a
- 1:17:26peculiarly New York phenomenon, and there is no
- 1:17:30Possibility that his radical economic program will be
- 1:17:34adopted by the current Democratic Party leadership Despite
- 1:17:38his claim that his campaign is a referendum
- 1:17:41on where the Democratic Party goes in the
- 1:17:44future Nor is mom Donnie a serious threat
- 1:17:47to American society in Fact his reform program
- 1:17:51is a modest one That at present stands
- 1:17:56little chance of attracting a majority of American
- 1:18:00voters who remain content to vote for the
- 1:18:05flailing and increasingly irrelevant Democratic Party or alternatively
- 1:18:11Trump re-energized populist Republican Party New York
- 1:18:16is a democratic city in a democratic state
- 1:18:19when Kennedy and Clinton Launched their political careers.
- 1:18:23They ran for the Senate in New York
- 1:18:25and were elected unopposed basically Donald Trump and
- 1:18:30Musk implicitly acknowledged this fact when they endorsed
- 1:18:34Andrew Cuomo rather than mom Donnie's Republican opponent
- 1:18:38in A desperate attempt to prevent him from
- 1:18:42Donnie from being elected New York City has
- 1:18:45had left-wing populist mayors in the past
- 1:18:48most notably Fiorello LaGuardia and more recently bill
- 1:18:54de Blasio Mom Donnie's of grassroots politician who
- 1:18:59stayed on message throughout his campaign and it
- 1:19:01was based on his own personal brand of
- 1:19:05savvy and sophisticated use of social media He
- 1:19:09focused on winning over young New Yorkers who
- 1:19:12have been left behind by globalization together with
- 1:19:18Disaffected workers Black people and members of immigrant
- 1:19:22communities that have suffered similar fates New York
- 1:19:26is the most expensive city in America to
- 1:19:29live in.
- 1:19:30I wonder if that's true I always started
- 1:19:32with San Francisco, but maybe it is it
- 1:19:36is still New York the Democratic Party leadership
- 1:19:39views mom Donnie as an aberration and a
- 1:19:43threat and Refused to support him.
- 1:19:46It is unsurprising that major media networks Pointedly
- 1:19:51refused to endorse him the modern-day Democratic
- 1:19:55Party which is not represented the working class
- 1:19:58for decades is Committed to protecting the interests
- 1:20:02of global elites Hence, it's a lot slavish
- 1:20:06adherence to their woke globalist ideologies such as
- 1:20:11catastrophic climate change Diversity privileges and the me
- 1:20:17too movement and transgender rights even though these
- 1:20:21ideologies continue to alienate an increasingly large number
- 1:20:26of ordinary American voters Roosevelt's pragmatic New Deal
- 1:20:32reforms which broadly favored the working-class Trade
- 1:20:36unions and minorities have been wound back since
- 1:20:40the 70s not only by Republicans but just
- 1:20:44as brutally by Democratic presidents Clinton and Obama
- 1:20:48That is why the traditional working-class together
- 1:20:52with large segments of black and Latino communities
- 1:20:56Have deserted the Democratic Party over the last
- 1:20:59decade and now vote for Trump.
- 1:21:02They do so not Necessarily because they believe
- 1:21:06in Trump's populism But because they refuse to
- 1:21:09vote for a party that no longer even
- 1:21:12pretends to represent them It is true The
- 1:21:16Democratic Party has always tolerated left-wing populist
- 1:21:20For example, William Jennings Bryan Huey Long George
- 1:21:24Wallace and Bernie Sanders But only so long
- 1:21:28as there remain local politicians and do not
- 1:21:30attempt to radically refashion the party's economic agenda
- 1:21:35The Democratic Party can therefore live with Mamdani
- 1:21:38unless his mayoral victory Sparks a wider movement
- 1:21:42to radicalize the party if that occurs this
- 1:21:47is the the the image Mamdani will be
- 1:21:50ruthlessly cut down as Bernie Sanders was in
- 1:21:552016 by Hillary Clinton and the glass ceiling
- 1:21:59and transgender rights brigades The conservative critique of
- 1:22:04Mamdani and the well-funded smear can campaign
- 1:22:07conducted against him is of course absurd in
- 1:22:11irrational, but McCarthyism and anti-intellectualism Are now
- 1:22:16at the heart of contemporary American politics Mamdani
- 1:22:22is neither a communist or a terrorist sympathizer
- 1:22:25Nor is he anti-semite in fact many
- 1:22:29New York Jews opposed the mass killings in
- 1:22:32Gaza and enthusiastically support Mamdani in the UK
- 1:22:38Australia and most eastern European countries Mamdani would
- 1:22:42be seen as a mainstream social Democrat But
- 1:22:47in America an explicit social Democrat Economic agenda
- 1:22:52is always demonized as communism hmm Perceptive where'd
- 1:23:01that go?
- 1:23:03American historians in the 50s most notably Lewis
- 1:23:07Hart viewed America as being perpetually trapped in
- 1:23:11a liberal liberal capitalist consensus in which socialism
- 1:23:17Even its moderate social democratic form has failed
- 1:23:21to emerge as a significant political force Unlike
- 1:23:24in the UK Australia and most European nations
- 1:23:28There are powerful social democratic labor parties that
- 1:23:31have shaped politics Since the earliest 20th century
- 1:23:35the complete failure of socialism in America Explains
- 1:23:39why the Democratic Party in the 70s so
- 1:23:42eagerly adopted pro-globalist Ideology like Affirmative action
- 1:23:48and gay rights and why it remains so
- 1:23:52firmly wedded to their woke globalist ideology today
- 1:23:58Contemporary America is no longer liberal indeed.
- 1:24:03It has become illiberal under Trump's right-wing
- 1:24:08populist presidency and that is unlikely to change
- 1:24:12in the foreseeable future the power elites a
- 1:24:17term coined by Historian see right mills in
- 1:24:20the 50s that control America can live with
- 1:24:23Trump Because they know he will protect their
- 1:24:26economic interests, which he does all the time
- 1:24:29Even those among the elites would much prefer
- 1:24:33Democrat president Friday a lot Ideological reasons they
- 1:24:38will tolerate Trump as does the current Democratic
- 1:24:42Party leadership The truth is that the Democratic
- 1:24:45Party funded by large corporation and fixated on
- 1:24:48cultural wars would rather lose Elections to MAGA
- 1:24:52Republicans then permit a moderate reformist like Mumdami
- 1:24:55To radically reshape the party's economic program How
- 1:25:00else can one explain the party's decision to
- 1:25:03run Hillary Clinton for president in 2016?
- 1:25:08Persist with the dysfunctional Biden as a presidential
- 1:25:11candidate and replace him with the inept candidate
- 1:25:15a diversity candidate Kamala Harris Harris is determined
- 1:25:19to run again in 2028 and the Democratic
- 1:25:21Party might allow her to do so Ensuring
- 1:25:24yet another Presidential election defeat the Democratic Party
- 1:25:29sees Mamdani as a radical threat But it
- 1:25:32would rather sponsor endless and pointless No King's
- 1:25:35demonstration than adopt economic programs like Mumdani's That
- 1:25:40is the only agenda that will allow them
- 1:25:42to begin to effectively counter Trump's right-wing
- 1:25:46populism Mumdani's fate is mirror is likely to
- 1:25:50mirror that of other American socialists and left
- 1:25:53-wing populists His influence will be severely curtailed
- 1:25:57by the Democratic Party leadership and he will
- 1:25:59remain a marginalized and localized New York political
- 1:26:03figure that is in large part because Mumdani's
- 1:26:08Reformist economic program is still anathema to the
- 1:26:12vast majority of American voters His agenda clearly
- 1:26:15resonates with a majority of disaffected voters in
- 1:26:19New York City But it is electoral poison
- 1:26:22elsewhere Especially in the Midwest and the American
- 1:26:26South only a radical reformed Democratic Party could
- 1:26:30alter this state of affairs and That would
- 1:26:34be a herculean political task that shows no
- 1:26:39sign of Embracing Mamdani's likely fate does not
- 1:26:44bode well for America's future But in rejecting
- 1:26:49and demonizing the basic principles of social democracy
- 1:26:54including moderate reformist economic programs America has condemned
- 1:27:00itself to right-wing populist future that can
- 1:27:04only become progressively more unstable Illiberal and irrationally
- 1:27:12dysfunctional to believe that Zoran Mumdani can single
- 1:27:17-handedly reverse the current trajectory of Contemporary American
- 1:27:23politics is a naive illusion Unpalatable as it
- 1:27:30may be it is the real meaning of
- 1:27:34his election victory This week I Liked that
- 1:27:40article and even though I don't agree with
- 1:27:42it all But I wanted to share it
- 1:27:45with you because I thought that the New
- 1:27:46York story.
- 1:27:47I was interested because he was Where was
- 1:27:53he born again this guy?
- 1:27:54I forget where he was was was born
- 1:27:58Where'd he go?
- 1:27:59Um They're Uganda, that's what I thought I
- 1:28:05wanted to say it But he's of Indian
- 1:28:07heritage, and he's Muslim and he's from Uganda,
- 1:28:11so I don't know I think I think
- 1:28:16I Agree with the bulk of what was
- 1:28:19said in here that he really isn't gonna
- 1:28:21have all that big of an effect on
- 1:28:23National politics, that's what I think and worrying
- 1:28:27about him Probably Isn't Something you should waste
- 1:28:34your time on Especially if you don't live
- 1:28:37in New York City and trust me New
- 1:28:40York State is gonna try to curtail what
- 1:28:42he can do anyway Especially if he's if
- 1:28:45their budget deficit is as big as they
- 1:28:47list on here At any rate I have
- 1:28:51covered all I plan to cover tonight I
- 1:28:56Will be back with you on Sunday evening
- 1:29:03Nine o'clock until 1030 and I Have
- 1:29:09a Research paper in the works for that
- 1:29:13that I would like to share with you
- 1:29:16That we're gonna talk about and I would
- 1:29:18be happy to discuss that with you at
- 1:29:21that time You can listen to me Sunday
- 1:29:24through Thursday nights 9 p.m. To 1030
- 1:29:27p.m. You can always go out to
- 1:29:29internationalflavor.com and Rerun the shows at your
- 1:29:35convenience JR does a great job of putting
- 1:29:38them all out at damn radio.com forward
- 1:29:40slash live as well and So you have
- 1:29:44plenty of opportunities to go and listen to
- 1:29:47them Damn radio.com forward slash schedule if
- 1:29:51you want to find out what's up on
- 1:29:53this schedule.
- 1:29:53Have a very good night damn radio damn