Latest / Cultural Wars | America Out Loud News / Senator Bill Hagerty on CBDCs, digital IDs, and the fight against financial surveillance
Transcript
- 0:02Broadcasting around the world.
- 0:04This is on the record with Christian Briggs.
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- 0:24Welcome back, everybody.
- 0:24This is Christian Briggs coming to you again with what I think is going to be one of our best shows ever.
- 0:29We're we're so honored and joined to have Senator uh Bill Hagerty here joining us today, and we're gonna have to go right into some some deep conversation about what is the most concerning topic in today's environment.
- 0:41We all know at central bank digital currency and we know that this we are transitioning from an age of paper currency, privacy anonymity, and what I consider to be the decentralization of what crypto was offering to a centralized system.
- 0:56So today with Senator Hagerty, we're gonna be going deep dive into C B D C.
- 1:01So Senator, thank you so much for joining.
- 1:03It's great to be with you, Christian.
- 1:04Well, we appreciate you being here.
- 1:06I know your schedule is tight today because we uh we uh know that so many people are uh wanting to see you, visit with you, be with you, and ask uh such uh incredible opinions.
- 1:15Recently I was with a group that's one of the largest fundraisers in the United States for Republican causes.
- 1:20They've been around for over 50, 60 years, what have you.
- 1:24They said the leading concern or the hottest topic right now going among even the middle class to the upper middle class, even to the Uber wealthy, both moderate to conservative, has been the central bank digital currency.
- 1:35So with our listeners today, and you know, we've reached now in the top 54 uh podcast shows in America.
- 1:42So congratulations.
- 1:43Well, thank you so much.
- 1:44We appreciate that.
- 1:45We've been ranked so high now, we have listeners that understand that our shows are more about the quality versus the quantity, where everyone tries to put shows out every day.
- 1:52We put shows out that are meaningful, that have understanding what's going to affect them.
- 1:56Today's show on central bank digital currencies.
- 1:59I want to get your understanding where you think we are in the age, and then we can do you know, as we know you and I have consulted many times about this subject.
- 2:06The question really comes right down to how is this thing going to affect Americans and how do you see us stopping this?
- 2:15Well, I I think that uh the concern that you raised, and I think you highlighted for me, frankly, Christian.
- 2:20I didn't realize that this had elevated to the point that it has in the polling.
- 2:24Um but I think when you when you segregate the the the people that have responded to this, and these are people that have accumulated some form of wealth, right?
- 2:32Correct.
- 2:33And and those are the ones I think that are and should be concerned about any form of centralized system.
- 2:39And the keyword here, the operative term is centralized.
- 2:42Decentralized doesn't worry us.
- 2:44Uh it's when it's centralized, when the government has the ability to monitor and control.
- 2:49And I think you've seen with Operation Choke Point, uh, you've seen you know what happened with the Canadian truckers and other governments.
- 2:55I think what what people are seeing, and they're seeing right through it, is that the government won't hesitate to use its power to decide uh what's permissible, what's not permissible, and if they can have a tool like this at their disposal, the control, the potential for control, I think is is downright frightening for many Americans.
- 3:13I agree with that.
- 3:13Now, I saw recently the mayor of New York was threatening the truckers who are protesting some of the things of which that her policies were the illegals and and more importantly, some of the policies on hurting the trucking industry.
- 3:28She was threatening that the truckers don't deliver those goods and services to New York.
- 3:32She was going to cut off their bank accounts.
- 3:35So it goes right back to the same thing.
- 3:37Are we willing to give the government such control that allows them to be able to determine our way of life and then that way of life, how we do that through control, surveillance, and containment.
- 3:48So I have another question here because this is one of the top questions I get asked a lot is your Senate bill, which was an incredibly well written bill.
- 3:56I personally read it, and as you know, I have a former Trump administrator uh attorney in in house here now.
- 4:02She's a good thing.
- 4:02She's great.
- 4:03Yeah, man, you're going to say who you know.
- 4:05Uh a brilliant brilliant mind when it comes to the legal aspects of what we're trying to discern here.
- 4:09Can you tell us a little bit about what your bill covered and why it was so important?
- 4:13Because I'm getting a ton of questions asked.
- 4:14Why isn't this bill being pushed through?
- 4:17Because it gives and maintains Americans' freedom of liberties for monetary policy.
- 4:21I I think you just s summed it up uh as simply as I could uh what this bill is designed to do.
- 4:28And I think what we're continuing to find the right avenue to put it forward is to ensure American freedom at at its very core and to prevent the centralization and the the basically the the ability of the government to come in and have any type of control over the payment system in a way that they could again use use an operation choke point 2.0 this time to uh in any means control Americans' behavior.
- 4:51Uh the central central bank digital currency is a vehicle uh that could be utilized to do that, and my legislation aims to stop that from from occurring.
- 5:00Uh what we've got to do in terms of process is find a vehicle in the Senate and in the House that we can use to that, as they say is must-pass legislation.
- 5:09Uh it will have to be uh uh appended to one of those and a stand on a standalone basis.
- 5:14Um I think it it's more difficult to get it through, but we'll be looking for opportunities either way.
- 5:18The problem that I've got right now is that the gavel is in the hands of Chuck Schumer in the United States Senate.
- 5:24And uh what you've seen with the Democrats, certainly the Biden administration, is an aim to centralize everything they possibly can.
- 5:31They want control.
- 5:33Uh the you you think about um the candidate they put forward for the comp trop of the currency, Miss Omarovo.
- 5:40Um, as soon as Silicon Valley Bank failed, she was calling for uh a digital centralized bank digital currency.
- 5:47And um what what you've got a central bank digital currency is just a tool, a means by which they disintermediate the banks, they put the government in control.
- 5:56And as I say, it's government control that I think most citizens are deeply deeply concerned about right now.
- 6:02Yeah, so let's talk let's expand on her role.
- 6:05We um we know that there's been a number of people appointed as well as kind of circumvented the the confirmation process in the Senate because they couldn't get confirmed like like some of these you're talking about, but they did get jobs at the Federal Reserve.
- 6:18And they we we know that they want to they want to basically nationalize the banks, have one centralized bank centralized to where it's be the central bank of the United States where there is no private banks, certainly the community and small banks are being hammered based on compliance and regulations that are so overburdensome.
- 6:35What do you think in a realistic expectations this Fed now, which is migrating commercial accounts from from commercial banks onto their platform, which as you know, bankers association uh people internally has said Fed now is a direct competitors to the commercial banks and the commercial banking industry.
- 6:54How fast can the Fed continue to do this and what's the importance then of Trump winning to try to slow it if not reverse the course of this?
- 7:02Well, I I think you you get a very clear sense when you hear Chairman Powell talk that the Fed's gonna operate within its bounds.
- 7:10But then you see evidence like you just highlighted, and um there is a bureaucracy there that is moving at a very different pace and scale.
- 7:16Um I I think that's being encouraged clearly by members of the Senate, uh by people in the Biden administration that want to see this type of centralized control.
- 7:26And we see this sort of um schizophrenic posture.
- 7:29Uh and and I'll I'll I'll pick one of my colleagues, Elizabeth Warren, who is against any type of streamlining.
- 7:36She wants more regulations on the banks, everything that would lend to, you know, putting smaller banks out of business and really consolidating banks into into the very largest.
- 7:44But at the same time, she says she doesn't want to see the big banks get bigger.
- 7:47Uh you can't have it both ways.
- 7:49I think deep down, what they want is to continue to regulate to continue to control the banking system and eventually be in a position to use the banking system to control our behavior.
- 7:59That is absolutely unacceptable.
- 8:01And any of these movements that you see, uh you know, whether it be Fed now or just the broad blanket of regulation that tends to be imposed by uh a Democrat administration in particular.
- 8:13Uh, but there is a direction here that is very, very uh disquieting for Americans to see, you know, their banking system just being enveloped by regulations that make it harder and harder for the smaller medium-sized banks to survive.
- 8:25And then you've got uh a situation where you can have only large banks that can afford the compliance cost.
- 8:30Uh their scale associated with banking and compliance uh is a scale-intensive aspect of the banking industry, and the more compliance requirements you have, the harder it is for the smaller and medium-sized banks to survive.
- 8:43So there's a real tendency toward consolidation here.
- 8:46And whether it be through the Fed now system or just through more large banks that they can control through heavy regulations, uh, it should be deeply concerning to Americans.
- 8:54Yeah, well, we know that the that right now the liquidity facility with the Fed was offering close on what, March 11th, March 12th, I guess, roughly, where now the Fed has stopped lending because they feel that the SVB debacle has been mitigated, you know, the the risk and all that.
- 9:09Yes.
- 9:09But here's the thing.
- 9:10But then yet you get the bankers association coming out saying, well, we want that liquidity.
- 9:14We need that.
- 9:15There'll be times during which are unpredictable that we may want to call upon the Fed for overnight lending.
- 9:21So why would they pull something when the banks are some down to some of their lowest levels in liquidity right now?
- 9:25I I think we need to be deeply, deeply uh cognizant of of the risk that's in the system.
- 9:31And the fact is that we've got tools that can be used to pump liquidity in on a on an emergency basis.
- 9:37Um we should be testing those tools and utilizing them regularly rather than pulling back on them, in my view.
- 9:42So this is a matter that uh my staff and I are looking into more deeply right now.
- 9:47Uh we'll continue to to push on this to make certain that we're again trying to create the safest environment that we possibly can, but also have all the tools ready and and at the disposal of the Fed when needed, uh, so that we don't find ourselves in a situation of of
- 10:00Chaos or calamity.
- 10:02If you look back at SVB, there are a lot of reasons for that bank to have failed.
- 10:05Mismanagement is the primary reason.
- 10:06They they didn't match their maturities.
- 10:08But also the San Francisco Federal Reserve Supervisors and the supervisors back in Washington were not doing their job.
- 10:16It uh frustrates me to no end that you've got regulators in San Francisco at the Fed there that uh are worried about writing papers on climate change, and they're not doing the basic fundamental job of bank oversight.
- 10:28They didn't escalate the issues high enough.
- 10:30Look, the the president of SVB was on the board of of directors of the San Francisco Federal Reserve.
- 10:35Somehow they didn't get this escalated.
- 10:37Um but we had at the very core is mismanagement.
- 10:41Then we had regulators that weren't doing their job, and then after the failure took place, um we had just a complete debacle with the FDIC who mismanaged the who totally mismanaged the auction.
- 10:51We should have never wound up on Monday with no no buyer.
- 10:54Uh my understanding was they're back and forth.
- 10:56I could never get a straight answer.
- 10:58But I actually went to SDB's headquarters that weekend.
- 11:00I was in California, I drove there.
- 11:02I wanted to see how many people were working around the clock trying to save that bank and find a buyer.
- 11:07The parking lot was virtually empty.
- 11:09And when I asked the president of SVB after the fact, I said, where were you?
- 11:13Did you I I I understand the the management challenges here, but who knew the asset better than you?
- 11:18Uh were you engaged to help?
- 11:19And he said, We offered to help, and we were told our help wasn't needed.
- 11:22Um again, I think it just comes back to gross mismanagement at the at the FDIC, and that's something I've been, again, pressing very hard to address as well.
- 11:31The FDIC's got some deep, deep problems, managerial problems that need to be addressed.
- 11:36Okay, so saying all that, then let's segue into this then.
- 11:38So we have central bank digital currency launches in and we'll call it a beta form with Citibank when they launched their digital assets.
- 11:45Is this a precursor then to overregulate the small to medium banks, which I get asked by, and there's a ton of conversation going on by some fairly wealthy uh well-known people, that the small to media banks are being routed out, they're being pushed out, get out of the way.
- 11:59The bigger banks are gonna kind of let everything flow from bottom up, take over a lot of the accounts, issue central bank digital currency under under the understanding that they're called digital assets, tokens that are uniquely serialized, which I know this to be true.
- 12:12We know Ripple has become the backbone to a lot of different things.
- 12:16So are they trying to, as a as people within the Federal Reserve, which we know there's a there's people there that don't believe in in private banking, they believe in nationalizing all the banks.
- 12:25Could they be leading us down a path?
- 12:27Because we'll just ask, we'll ask the question.
- 12:29Could they be leading and down as a path to take the banking system, rebuild it as a centralized bank, issue central bank digital currency, and then be able to have that as the new monetary platform, the monetary policy.
- 12:43You serve Congress's authority, don't issue the retail, issue commercial wholesale, which they must be doing because the only way that Citibank could have launched digital assets is with the Fed's approval, because it is a it is money, and that had to be centralized because it has to be peer-to-peer.
- 12:59So you you follow the transaction from A to B, and then to be able to to uh understand its its simplicity but complexity.
- 13:06So are there people out there willfully trying to make sure that some of the banking industry flows up, get rid of the smaller ones, issue CBDC, and thus by default nationalize the system.
- 13:19You know, it's it's hard for me to say at this point.
- 13:23Um I'm not familiar with the details of Citibank's digital asset issuance.
- 13:27Um but I'd like to come back to fundamental point that you raised, and that is the the pressure on smaller banks and the large banks' competitive advantage.
- 13:35They call them too big to fail.
- 13:37But uh the these banks that um are are deemed too big to fail basically have an implicit guarantee behind them.
- 13:44And that guarantee, particularly in times of concern or trouble, uh, will cause assets to flee.
- 13:49And I think we we saw that happen in the wake of Silicon Valley Bank's failure.
- 13:53Uh it's probably continuing to happen at some pace.
- 13:56Uh, and we need to be deeply concerned about that because it's going to fundamentally change the nature.
- 14:01It's it's it's a it's a natural tendency or natural pull, if you will.
- 14:04Uh if there are concerns about um, you know, uh a looming recession, concerns about bank failure, you name the variety of things that could come up that would cause a depositor to be concerned.
- 14:15One thing that the Fed has made clear is that if you're in one of these two big to fail banks, your deposits are covered and backed by the federal government.
- 14:22Not so clear uh if you're in a smaller uh a regional bank, and I think that has created uh a tremendous incentive uh for greater centralization.
- 14:32And that that's happening in its own right, despite you know the the the pace of play that you just described, which uh that that is a scenario that that is a possible scenario.
- 14:40I just can't tell you that I have enough insight right now into the system and to the business plans uh to to be able to put any type of probability weighting on that.
- 14:48Sure, but you make a great point because the smaller banks are so critical to the infrastructure of America.
- 14:53Small loans, small farms, small businesses in general need that smaller to mid-sized bank, because larger banks really don't look at the loan profitability to be able to give those small loans, they just don't.
- 15:05They don't know the local markets, they don't know the clientele and customer base the way you know a local banker does.
- 15:10So they've been part and parcel to our system here.
- 15:13Again, I think you have a class of regulators in Washington that look to Europe as the model for everything.
- 15:19Uh and there you see, you know, a much more consolidated uh banking system.
- 15:23You also see an economy that doesn't thrive the way ours does.
- 15:26And I think if you ask anybody where they would choose to live where they want to be, people are voting with their feet.
- 15:31People want to come to America.
- 15:32You look at Silicon Valley, uh, you look at places where innovation occurs uh uh uh around the globe, uh everybody seems to look to the United States, and we want to keep it that way.
- 15:41Sure.
- 15:42I I couldn't agree more.
- 15:43I saw today that Biden's about to sign probably one of the hardest electric vehicle regulatory uh issues on the under the EPA that'll mandate 70 percent all cars sold in America by starting in 2027 to 32, that they'll literally get rid of gas.
- 16:00It could literally get rid of gas and diesel by thirty thirty-two, thirty-three, thirty-four.
- 16:04Well, there'll be zero tolerance or zero sold, and that this is the that literally could double or triple the cost of a car in theory.
- 16:14There was a whole article on it today.
- 16:15It goes back to the same thing.
- 16:17If you if you centralize centralized power is where a handful of people control everybody.
- 16:21So if you do three things, transportation, health care, and of course, money.
- 16:25What's left?
- 16:26Travel and leisure.
- 16:27Well, who cares?
- 16:28The other three are centralized, socialized.
- 16:31I know that there's uh a bill pending that's coming in the house for single payer option on health care.
- 16:36Have you heard about this?
- 16:37I I have not, but it doesn't surprise me.
- 16:39Yeah, there's a bill that has been put not really a bill, but the concept is being pushed around where a bill will actually be introduced.
- 16:45It has been kind of quasi-introduced, but now they're gonna probably take it to the next level, especially with the absence now of just word is what leading by one one Republican, one one vote in the House, and that's on shaky ground here and recently with this newsweek article.
- 16:58And in an executive branch that um is led by Joe Biden in theory, but what we have is Bernie Sanders uh in terms of the policies that are coming out of this White House.
- 17:08So what you just described is is is not surprising to me at all.
- 17:12This is the kind of talk that's been around Washington for years, and Bernie Sanders has been at the point of the spear on this.
- 17:17Um so it wouldn't surprise me to see some legislation like this manifest itself, particularly if we lost control of the House and we suddenly had uh both bodies, both legislative bodies back in the hands of uh of Democrats, we'd see you know just more and more of these Marxist socialist policies that they have been pushing so hard for the past three years.
- 17:35No question.
- 17:35And I saw that SEMA and Manchin are not running for running again.
- 17:38Both of them have decided that they're gonna move on, is that correct?
- 17:41Yes, that's correct.
- 17:42Okay, would they then okay?
- 17:44Hear me on in this theory, because again, theories are are are just that until there's proof positive conclusion.
- 17:49So would, as Schumer has said, he's threatened to remove the filibuster, God knows how many times, right?
- 17:55If we lose the House and we have one vote, and now with this Newsweek article that says that they're up to five more are looking to resign, not just what not run for re-election, but we're talking about actual resign.
- 18:07And we lose one, two or three of those seats, and the house goes back, new new speaker of the house comes, Democrat side, and then they try to remove the filibuster.
- 18:16What what what's the downside SEMA and Manchin would face because they were the two holdouts prior to remember earlier in Biden's administration, and you were one of the toughest staunches, but and you held your ground and got your colleagues.
- 18:27Do not do not remove the filibuster because it is not right to remove it.
- 18:32Okay.
- 18:33Well, I think what you'll see you'd see, and it's it's interesting.
- 18:35The filibuster is just to give our our listeners uh uh a little bit of context for this.
- 18:40The House operates on majority rule.
- 18:42You know, 50 plus one uh get fifty fifty percent plus one gets it done in the House of Representatives, things move quickly over there as a result.
- 18:50The Senate um is is supposed to be a more deliberative body, and the rule there, the the filibuster rule requires most legislation uh requires a 60 person vote.
- 19:01Uh it's very rare that either party has a 60 person lead.
- 19:04So it basically requires bipartisanship to get something done.
- 19:08Uh that's greatly frustrating to the executive branch, and most times, you know, new president comes in and wants to see their legislation pushed forward.
- 19:15Um they don't like the filibuster.
- 19:17But when President Trump took office, um there there was pressure at that point to remove the filibuster to get Republican priorities pushed through.
- 19:24And we had uh well over thirty Democrats sign a letter saying that the filibuster was absolutely critical to the function of the Senate and we should never do away with the filibuster.
- 19:34Yet when the Democrats take control, uh the only two people that stood their ground for the filibuster were Joe Manchin and Kirsten Cinema.
- 19:41So those two people are both leaving the Senate if heaven forbid we don't uh take the Senate back uh in 2024, and I really do think we will.
- 19:50Um but if something happened that we did not have control of the Senate, uh we would not have Manchin and Cinnamon, those two positions.
- 19:57Um if it were up to the
- 20:00You know, up to the other 49 of their colleagues that you know the Senate right now is 51 Democrats.
- 20:05If if the other if the other 49 are still there, uh, and they're joined by two more who want to do away with it, um, then here's what would happen.
- 20:15You would immediately see the Supreme Court pact.
- 20:18They don't like the composition of the Supreme Court, they'll just change it.
- 20:21They'll add enough Democrat appointees to dilute and go back to um, you know, a very leftist uh type of you know structure on the Supreme Court that'll that'll that will destroy the Supreme Court in my view.
- 20:34Uh they're gonna add new states, the District of Columbia, Puerto Rico, that will get them four more Senate seats and make their margin even greater and and harder to um and harder for us to overcome.
- 20:46Uh, you can imagine that if they're in charge in that manner.
- 20:51Without the filibuster, they will be able to just ramp through one policy after the other that will be massively detrimental to America.
- 20:58You think about uh where they'll go after they get the Supreme Court pact, after they get uh the um after they get the states that they want created in in Puerto Rico and DC.
- 21:11Um, you know, my assumption is that they'll go to solidify something they all voted against just just in the in just a couple of weeks ago, and that was my legislation that would prohibit illegal migrants from being counted for the purposes of allocating congressional districts and electoral votes.
- 21:27Uh, every Democrat voted against me on that.
- 21:29Yeah, they want to include illegal migrants uh in the allocation of congressional districts.
- 21:33They want to do it in the allocation of electoral votes.
- 21:36They need to do that because uh, and they are they are doing it because they locate the sanctuary cities in these blue states that are losing population.
- 21:44You think about it, New York, Illinois, Chicago, you know, ill Illinois, California.
- 21:48Look at where the sanctuary cities are New York City, Chicago, Los Angeles, San Francisco.
- 21:53Uh, these are acting as magnets when somebody breaks the law to come into our country, and just since Joe Biden took office, some 10 million people it's estimated have.
- 22:01Um, where are they more likely to go to a city that's pledged not to enforce the immigration laws?
- 22:05I think that we can be pretty certain that they're getting a disproportionate number of the people that have come to our country illegally.
- 22:12Those people are being counted for purposes of allocating congressional districts and electoral votes.
- 22:16That's more power in terms of determining who's going to be president.
- 22:19That's more power in the Congress for them.
- 22:21At the end of the day, this is all about power.
- 22:23And all of this argument about humanitarian needs and the type of country you want to be with the Democrats just proved what the motive is behind the crime at our border.
- 22:31The motive is they want more power.
- 22:33They want to influence by bringing people here illegally.
- 22:37They want to influence the allocation of electoral votes.
- 22:39They won't influence the allocation of congressional districts, and they every single one of them voted uh against me on this and voted to keep counting illegal migrants in allocating this.
- 22:49So I think we know what they're doing, and they're going to continue doing that.
- 22:52They're going to make it even easier because they want to be in power permanently.
- 22:55Yeah.
- 22:55They want to be the uniparty.
- 22:57And I think if we allow this to happen, we'll we'll see even more destruction uh to our to our way of life here in America.
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- 29:30There's something big happening to the world right now that almost no one is talking about.
- 29:35In the long term, this is going to change the way we all live our lives.
- 29:39We're talking about digital ID.
- 29:41Here's UK Prime Minister Keir Starmer talking about digital IDs.
- 29:46This scuffle will make a new free of charge digital ID.
- 29:50Mandatory for the right to work by the end of this parliament.
- 29:55Let me spell that out.
- 29:57You will not be able to work in the United Kingdom.
- 30:00If you do not have digital ID.
- 30:03In the US, at least 25 states have already launched digital driver's license programs.
- 30:09That means you can now pull out your phone instead of your wallet when you check into a flight, for example.
- 30:14And in Europe, they passed a law last year that makes it a requirement for all member countries to roll out a national digital ID wallet by 2026.
- 30:23In China, they just launched their version this summer, which links it to their social credit system.
- 30:29Countries like South Korea, Singapore, Nigeria, the United Arab Emirates are already doing this with their digital IDs.
- 30:36The United Nations has made it one of their goals.
- 30:39Quote, legal identity for all by 2030.
- 30:42And the people funding, and of course, the World Economic Forum and the World Bank.
- 30:46And now Europe and the US are writing all of this into law.
- 30:50In just the last decade, the number of national digital ID programs have doubled.
- 30:54Today, over 100 countries either have one or are building one right now.
- 30:59Once you look into how much power this will give the governments of the world, you're going to be shocked.
- 31:04Once your entire identity is digital, whoever controls that ID can control a lot of power.
- 31:10RFK Jr.
- 31:11wasn't exaggerating when he said that this is turnkey totalitarianism.
- 31:15It lays the groundwork for global medical surveillance of every human being.
- 31:19A digital ID is a secure electronic form of ID that verifies who you are.
- 31:25Usually it's built on top of an app on your phone, and inside that app is all your personal information, which is then verified by a trusted authority like a company or a government.
- 31:35But there is a big difference between the physical version and the digital one, because digital IDs use something called biometric data, which are things like your facial recognition or fingerprints with cryptographic encryption, so they are a lot harder to fake.
- 31:48And once you've been verified that ID becomes reusable, that means you don't have to keep handing over your passport or your license to different companies or even go to the DMV.
- 31:58You can just share that specific piece of information that they need.
- 32:01So for example, if a bar needs to know that you're over 21, the app could just say yes.
- 32:07This person is old enough without necessarily revealing your exact details, your birthday, or your full ID number.
- 32:13So on paper, it sounds like a convenient thing to have.
- 32:16It's more secure.
- 32:17There's less information floating around, so less chance for fraud.
- 32:21But as you're about to find out, you're going to realize that when you centralize that much power, the question becomes what can they do with it?
- 32:29Because while governments and tech companies present this as a convenient and secure thing to have, the actual way it's already being used in some countries is a very different story.
- 32:38Here's Larry Ellison on predicting AI powered surveillance in the future.
- 32:42We're constantly recording, watching and recording everything that's going on.
- 32:46Citizens will be on their best behavior.
- 32:48Because we're constantly recording and reporting everything that's going on.
- 32:52Take China, for example.
- 32:54Just this summer they launched their national digital ID app.
- 32:57But instead of it just being an upgrade from physical to digital, they tied it to their social credit system.
- 33:02That means their digital ID is not just proof of who they are, but it's also connected to things like their financial history, travel rights, and even their online activity.
- 33:12So what that means is if the government doesn't like what they're doing or doesn't like what they're saying online, or maybe what they're buying, they could restrict your ability to travel to buy those things, or to access certain social services.
- 33:24Here is a sound clip from a recent news article.
- 33:38If you didn't get a vaccine that the government mandated, you can't use public transportation.
- 33:43Here is another sound clip from a recent news article.
- 33:45They would immediately detect that and send you a notification, and they would deduct money from your what they call WeChat account.
- 33:51They they use two main apps, we chat and Alipay.
- 33:53So you can actually deduct your money directly from your account.
- 33:57There were reports of elderly people and workers who were denied food and pensions because their fingerprint scanners stopped working.
- 34:04So if the system doesn't recognize you, you don't get food.
- 34:07Here's a TikTok post that recently went viral.
- 34:11And I have to pass facial recognition, identity verification, which is insane.
- 34:18Because all I want to do is just spend my gift card balance on this debit card.
- 34:22In the European Union, for example, they already passed something called EIDIS 2.0, which is a law that basically makes it a requirement for all countries in the European Union to offer a national digital ID wallet by 2026.
- 34:36Here's a promotional video explaining EIDIS to EIDUS is a short name for electronic identification, authentication, and trust services.
- 34:45The second amendment uh to this EIDS draft, which came out in 2014, is now uh in draft form.
- 34:52It came out in 2021 and should have new legal and technical requirements that will be ready, hopefully, we're expecting it affects all European member states and EEA countries.
- 35:03The residents, citizens, and businesses of member states will be able to offer a digital identity that can be stored on a device and reused.
- 35:12It's yet to be determined by each member state how this digital identity will be issued either by government mandate or commissioned by a private industry company against certification.
- 35:24It is one of the first frameworks globally to offer the legal and technical requirements for a digital identity and its storage and reuse.
- 35:32Uh users will be able to attest other attributes, for example, licenses, certificates, uh health information onto this digital identity wallet, and it can be used for both public and private sector services.
- 35:46The best thing to do is to be ready uh for the compliance requirements that will be coming into effect sometime in the next few years.
- 35:54So in just about a year or two, every single person in Europe will have access to one government-backed app that can log you into your bank and pay your taxes, and it's being sold as kind of a universal lodge in for life in Europe.
- 36:06In the UK, for example, there's Prime Minister Keir Starmer.
- 36:10He wants to make these digital IDs a mandatory requirement for everyone.
- 36:14Well, ID.
- 36:14We need to be really clear, you must have uh ID, mandatory digital ID in order to work, because we have to stop illegal working.
- 36:23Now, here in the United States, we don't have one national system yet, but we're getting a lot closer.
- 36:28At least 25 states already have mobile driver's license and 20 others are working on them, and even tech companies like Uber and Amazon are starting to accept them.
- 36:37Here's a soundbite from Bill Gates.
- 36:39Because you're anonymous online, it can be worse.
- 36:42I do think over time, you know, with things like deep fakes, most of the time you're online, you're gonna want to be in an environment where the people are truly identified, that is they're connected to a real world identity that you trust instead of just people saying whatever they want.
- 36:58If the system is trying to protect us from fraud or illegal immigration, then the current system that we have today should be working, but it's not.
- 37:06So an extra layer of this identification is going to do very little to stop it.
- 37:10When UK Prime Minister Keir Starmer sat down for an interview with the BBC, the reporter asked him this question.
- 37:17Why do you think that them having a digital ID, having to have a digital ID would stop that problem when right now people are meant to have a national insurance number and card, and if they are not asked for that, a boss is willing already to break the rules.
- 37:30What's the difference going to be?
- 37:31That's exactly right.
- 37:32If they're not willing to ask for their current credentials, what makes them think a digital ID will do anything to change that?
- 37:39He didn't really have a good answer for that because there is no good answer.
- 37:42So if we allow this to happen, it's going to fundamentally change the balance of power between people, governments, and corporations, and not for the better, unfortunately.
- 37:51But yes, it will be more convenient for people as long as you don't get out of line or say something someone doesn't like.
- 37:57Here's a sound bite from reform UK leader Nigel Farage.
- 38:01All that digital ID will be is a means of controlling the population, of telling us what we can and can't do, of finding the innocent.
- 38:10Uh, and didn't we say it all when we had the pandemic when you had to have vaccine ID to travel to do various things?
- 38:18Did that stop the COVID pandemic spread spreading?
- 38:20Did it hell?
- 38:21All it did was put cost and inconvenience on everybody else.
- 38:25I also worry about massive data banks being held with the government being hacked by foreign governments, by private companies, by criminals.
- 38:35I do not see a single benefit to the government having digital ID, other than them controlling what we do, what we spend, and where we go.
- 38:47One thing I'm gonna make a note is now I've had obviously other members of Congress, and um they have said behind closed doors, there are some Democrats that do that do not want this type of migration, this open border policy.
- 39:01They do not want central bank digital currencies, they do not want this communist Marxist takeover.
- 39:05They're more moderate, but they know that if they don't vote along with their their party colleagues, they'll just be run out of town.
- 39:14They'll be destroyed.
- 39:15Yep.
- 39:16Where does the backbone start?
- 39:17I mean, obviously somebody though there on the Democrat side has to say enough is enough.
- 39:22Is it because they're more worried about the aftermath?
- 39:26What could happen?
- 39:27Or are they more worried about uh things of other that we're not we're missing something here?
- 39:32Why would they want to stand up for what the Constitution has given us so much?
- 39:36So much.
- 39:37And yet they're trying to take take most of it away.
- 39:40Who who can who who over there in the Democrats?
- 39:43Do you think?
- 39:44And I'm not gonna say names about that, but don't you think at some point some of these people are gonna say, you know, Uncle, I'm tapping out?
- 39:50It's hard to say.
- 39:51Um again, the the Democrats' motivation, and uh I think if you just looked at that vote that I just described, if every one of them are voting.
- 40:00To have illegal migrants counted as as a means of allocating congressional districts.
- 40:04Look, we you think about it, it's the the they they make some sort of vague constitutional argument that well the term person is what's used there.
- 40:12A people um the that term is interpreted in a variety of ways in the U.S.
- 40:16Constitution.
- 40:17It what they voted for directly goes against the notion of one person one one vote, which is embedded in the Constitution.
- 40:24And our citizens' votes are diluted when we allow people that come here illegally to you know leverage up the power, if you will, in a particular congressional district.
- 40:32We don't count people that are serving as diplomats here.
- 40:34We don't count people that are here on vacation.
- 40:36I mean, where does it stop?
- 40:37You know, somebody comes in here illegally that you're going to count them, why why not just count everybody that's here vacationing?
- 40:42Um, it at some point you just got to bring reason to this.
- 40:48This makes no sense at all.
- 40:49But they're winning on this one, and they're that is, as I said, the motive behind the crime at the border.
- 40:53That's the reason they're willing to bring all the fentanyl in, all the crime that's occurring.
- 40:57We've got now gangs operating across the entirety of the United States distributing drugs for these cartels.
- 41:03They have invited this, they've encouraged it.
- 41:06And now what we're seeing is you know the the number one cause of death for young people between the ages of 18 and 45 in America, drug overdose.
- 41:14Most of it fentanyl coming across the southern border.
- 41:17The human trafficking, what I've seen down there is is I haven't seen the the result, but what I've been told about uh that that has occurred there, I won't go into on this podcast, but it is terrible what's happening, particularly to young girls, uh, as they are basically being managed by these gangs, and it's happening, you know, right here in America.
- 41:35It's happening right here in Tennessee under our noses.
- 41:37I've met with the Tennessee Bureau of Investigation.
- 41:39These gangs are operating here in Tennessee as I'm sure they're operating in every other state in the nation uh with human trafficking, prostitution rings.
- 41:47These are people that are basically enslaved.
- 41:50And the Democrat Party is willing to facilitate all of this just because they want power.
- 41:56Power for what?
- 41:58That's the question.
- 41:58What is it the ultimate gain?
- 42:00It gets back to the root of of this podcast today.
- 42:03It's control.
- 42:04It's control.
- 42:05And whether it's control of our currency and our financial transactions, control over health care health care system as you described, whether it's Joe Biden trying to control what car we can drive, uh, it's it's all about control at the end of the day, and you've got an arrogance embedded in all of this that they must sincerely believe that they know better than the rest of us.
- 42:21And you know, it's the coastal elites that call us a flyover state right here in Tennessee.
- 42:26It's an arrogance that I don't uh don't understand, I certainly don't agree with, but the American public can see it.
- 42:32They're tired of it.
- 42:33And I think if you you you ask yourself uh why are people pushing back so hard?
- 42:37Why is Donald Trump so popular right now?
- 42:39You can understand it when you when you see the the way people are reacting to this arrogance.
- 42:43No, I I know, I know, I know, I know.
- 42:45I I saw a um I'm I'm gonna do some comedy here.
- 42:49I saw two rallies that Joe Biden went to.
- 42:52I saw one at Kamala Harris went to.
- 42:54Thirty-six people on on average on both of those Biden rallies, and I think sixteen or seventeen showed up for Kamala, and Trump's selling out arenas and and and like like sixty thousand people.
- 43:07You know, it's uh such a so few people want to control all of us in such a way that it's so detrimental to our way of life.
- 43:15They always say is that when you allow someone just a little bit, what was that old saying that Ben Franklin talked about and Thomas Jefferson about the liberties and the freedom, and you know, you'll give up a little bit more for safety, and then Obama was out there saying, if you'll just give me a little bit of your freedom, I'll make sure you're more safe.
- 43:33You know, I'm obviously I'm I'm taking it to a uh to to easily understand it with the layman terms, but what's the next step?
- 43:41What do we got to do to get Trump in that white house?
- 43:43What's our what's our motto?
- 43:44Well, if the election were held today, Trump would win.
- 43:47Um I I think the American public have have moved.
- 43:50You look at every battleground state.
- 43:51I have, I went through the numbers last Friday.
- 43:53Right.
- 43:53Um I I think that Trump is in an excellent position uh right now.
- 43:58He just needs to stay the course.
- 44:00We need to win the Senate.
- 44:01Right.
- 44:01Um I'm optimistic that we can do it because the Democrats are defending 23 seats this time.
- 44:06As you know, a third of the Senate is up every two years.
- 44:09Right.
- 44:09Um there are a hundred of us in total, but uh, but it's uh every every two years you've got thirty-four or thirty-three senators that are up for re-election.
- 44:17Uh the Democrats have to defend more than twice as many seats as we do.
- 44:20So they're going to be spread then.
- 44:22Three of those senators are serving in red states.
- 44:25Three of those Democrats are serving in red states.
- 44:26Joe Manchin has already read the writing on the wall.
- 44:29Uh he's not going to run again.
- 44:30Um you've got uh also Montana and Ohio that are both going to go strong red in the presidential race.
- 44:37So West Virginia, that's gonna be a that's gonna be a Republican senator right now.
- 44:41Uh Montana, uh every reason to expect that uh we'll have a new senator there as well in Ohio, be tougher.
- 44:48There'll probably be high single digits uh uh red state there in Ohio, but I think um I think we got a very good chance to to win Ohio also.
- 44:56There are other states that that I think should be and could be in play on the map as well.
- 45:00We could we could have a very good year if you look at Wisconsin, Michigan, Arizona, Nevada.
- 45:06Um Maryland now looks very good for for um Republicans.
- 45:10There are you know, I'm probably missing a state, but I think uh th those states look very good for us.
- 45:16Uh we're gonna have you know a real fight in Texas again this year.
- 45:19Uh Democrats are gonna put a lot of money into taxes.
- 45:22Uh is this against Ted Cruz?
- 45:24Yes.
- 45:24Yeah.
- 45:25Who's their opponent?
- 45:26Uh all red is the is is the name of the opponent who's been raising a lot of money, and uh, I'm sure Chuck Schumer, the Democrats always seem to have an advantage when it comes to uh fundraising.
- 45:36They're yeah, why what is this?
- 45:38Rich West Coast donors, rich New York donors, uh uh uh I I'm not sure specifically how all that works, plus all of these small dollar contributions that they're able to generate through this act blue.
- 45:48Right.
- 45:48Um it just feels like the Republicans are playing catch-up here.
- 45:52And um, you know, I think if if you think about the psyche of of a Republican voter, we just want the government to leave us alone.
- 45:59Right.
- 45:59We want the government to be out of be out of our hair, whereas you know the Democrats want the government to control everything, as you as you say.
- 46:06And you know, I I don't know why that means that they do better on fundraising, but perhaps people believe that um i if they can contribute to the government, they can help control the government and they can you know help you know have a say in how it comes out.
- 46:19I'm not sure.
- 46:20But um whatever the motivation may be, the Democrats have enjoyed a a greater fundraising advantage.
- 46:26I think our advantage has to do with our message.
- 46:28Yeah.
- 46:29And the fact is that at the very core, Americans are freedom-loving people.
- 46:33And if we talk about prosperity, liberty, and freedom, uh, I think we're gonna see uh, you know, great results in 2024, both for the presidency and the Senate and hopefully in the House as well.
- 46:45Well, we have to win.
- 46:45We cannot, we can't go backwards.
- 46:47We can't do another four years of this.
- 46:48I was looking at yesterday or uh Friday.
- 46:51There was an article that said um that here I'm gonna pull it up.
- 46:55An article that basically said that right now under the current policies of um the current administration, right here it says Biden new regs will cost up to 25,000 per home to comply.
- 47:08And this isn't this isn't gonna be a one-time four years.
- 47:12This will be every year.
- 47:14So you have a two thousand, we know inflation right now is kicking ass right now with families about eleven hundred bucks a month, give or take, right?
- 47:21This right here, it says that uh because of the green revolution, we'll call it the green revolution, because remember, anything that's communist that they call it a revolution.
- 47:29Remember that in Cuba, Venezuela, North Korea, whatever.
- 47:32You know, we've we've heard the battle cry from certain Democrats, socialists, and communist democrats that a revolution needs to take place.
- 47:38AOC, Bernie Sanders, and so forth, especially Elizabeth Warren.
- 47:42Um 25,000 right now is what the average family is being charged for 2024 with energy, car insurance, home insurance, food.
- 47:53Look at beef prices, they've tripled in the last four years.
- 47:56We're down to what 22% of the beef production in the United States because of EPA and FDA regulations that are running out of the beef industry out of business.
- 48:03How much more longer can people on the Democratic side vote themselves into poverty?
- 48:07That's the question.
- 48:08You make a good point.
- 48:09Why is it that people want to vote themselves in such a way is it that they want to be dependent?
- 48:15Look at Canada.
- 48:15They just launched a universal basic income to two million households starting January first.
- 48:20What's going on in Canada?
- 48:22Well, I think there's a theory uh on on the Democrat side that the more government dependency you can create, the longer you can stay in power.
- 48:29And their talking point is once they create a dependency or a program that creates dependency, that the that the Republicans are going to take it away from you.
- 48:36Right.
- 48:36One of the most egregious vote buying efforts that's that's been undertaken is this student loan forgiveness program.
- 48:41So Joe Biden goes out and announces that he's going to forgive 152,000 student loans just a couple of weeks ago, and then within a couple of days says he's going to hire college students to go out and uh work the polls for him.
- 48:52And these college students are working with the ACLU and with uh Demos, these are both very left-leaning uh organizations.
- 48:59There's no doubt in my mind that they're going to try to weaponize the federal government, take our tax dollars and put them to work for Joe Biden to get him re-elected.
- 49:06That's why it's going to be so critical again for us to stay on the message of prosperity, freedom, and liberty.
- 49:11That's that's inspiring to Americans, not not dependency.
- 49:14No, I agree with you, but help me out on one thing, because I'm gonna get this asked a thousand times a week.
- 49:19If it's not central bank digital currencies, smart contract, social credit score, it's always how come Joe Biden can give away billions of dollars when the c when the Supreme Court, their decisions have been clear on three different occasions.
- 49:31Student loan forgiving is unconstitutional.
- 49:34How does he continue to usurp the authority of the law of the land?
- 49:39Uh they don't care.
- 49:40The Democrats clearly just do not care if they lose ultimately.
- 49:44He's trying to make a point.
- 49:45He's trying to get across the finish line in 2024, and if he loses in court, well, he will have lost, but he can just blame it on the Republican controlled Supreme Court.
- 49:53Uh that's what they tend to do.
- 49:55That that uh you know, they look at who nominated, uh, who nominated which judge and
- 50:00They say, well, it's uh more since Donald Trump was so successful at getting three justices in.
- 50:04They say it's um a Republican court right now.
- 50:07So he'll just blame it.
- 50:08He'll tell the he'll tell the people that look, I wanted to get it give it to you, and I I couldn't do it.
- 50:13It's the Republicans' fault.
- 50:14This is their mantra.
- 50:15But I think if Americans step back, I certainly have heard this overwhelmingly in Tennessee.
- 50:20Maybe I'll just use my own story uh is is a means to tell it.
- 50:24I I'm the first male in my family to graduate from college.
- 50:28And the opportunity for me to go to college was was a life-changing opportunity for me.
- 50:33I borrowed money to do it.
- 50:35I paid back every penny of it early with interest, Christian.
- 50:38I felt I was given the gift to have that opportunity, and I never thought the majority of the kids I went to high school with did not go to college.
- 50:44It never crossed my mind that they should pay for me to do it.
- 50:48I paid for it myself because I was given that opportunity.
- 50:50That was my responsibility, and I've I've reaped the benefit of that that opportunity, but I also worked hard to do it.
- 50:56That's the American way.
- 50:58And when people hear that Joe Biden is going to enrich 13% of the population that have these student loans, the rest of us are all asking, why in the hell should we be paying for this?
- 51:07Why shouldn't the people that had the benefit of that opportunity pay for it?
- 51:11I think the reason is pretty simple.
- 51:12He's just going out and trying to find this pocket, that pocket, and the other pocket of people that he can split off and divide out, and somehow, in this case, just clearly bribe them to want to vote for them.
- 51:24But but the whole point is between Supreme Court and their decisions, the law of the land is clear.
- 51:30It's unconstitutional.
- 51:32You're buying votes from people, and I did read this and and help me may uh add to this that the majority of the student loans is written in a professional industry, right?
- 51:41Doctors, lawyers, CPAs, who make a great deal of money.
- 51:45The majority of the loans that otherwise would be considered, they're not really low income people.
- 51:50It's a very small amount of the 1.3 trillion dollars in student loan debt.
- 51:55It's a very small amount of loans.
- 51:57A lot of the younger under uh I you know, I come from underprivileged area.
- 52:00I mean, I I know this.
- 52:01I come from low-income single mother being raised and all that stuff.
- 52:05Um, you know, they go to community colleges, they get grants, they find ways a lot of times to fulfill any kind of financial requirements.
- 52:13But the top end, you're forgiving stuff by well, very wealthy people.
- 52:18The Democrats have become the party of the elites.
- 52:21Have you noticed this?
- 52:22Oh, yes, I absolutely have.
- 52:24And if you think about their donor base, right.
- 52:26If you think about their um, you know, their their friends in the media, um, these are very, very rich people.
- 52:32Mark Zuckerberg has the capacity to put 400, 450 million dollars into the into the race to help Joe Biden in 2020.
- 52:39Uh, that's an enormous amount of money.
- 52:41And they have um they they have friends in high places, so to speak.
- 52:45And if you think about the elite capture that's taken place of the Democrat Party, uh, I think that's why you see such a such an embrace of working class folks of the Republican Party and and in particular of Donald Trump.
- 52:59Yeah.
- 52:59Well, people need to realize Republican Party is the party of the people, from the lowest middle class, lower middle class to the upper to everybody, the representation that the Republican Party, it's not even about being the word conservative, it's just the ideology aligns with the Constitution.
- 53:13Yes, yes, and if i i if you love liberty and if you love freedom and opportunity, then you're gonna be voting Republican.
- 53:19Right.
- 53:20And if you like centralized control, the government telling you what to do, independency.
- 53:23Well, you should be voting Democrat.
- 53:25Right.
- 53:25I've I've said it before.
- 53:26If you want to vote yourself into poverty and control, you sell it said it also, vote Democrat.
- 53:31I know you've got to get going because you've got other things going on, so I won't do that anymore, but but you're my dear friend and I'm gonna be able to do it.
- 53:36Great to be with you, Christian.
- 53:37You too, and I appreciate you very much, Senator.
- 53:39Thank you so much for being on the show today.
- 53:41All right, all the best.
- 53:42All right, thanks.
- 53:43There's a quiet push underway that's changing how you prove you are who you say you are, from something that lives in your physical wallet to something called a digital ID.
- 53:52The promise is convenience, security, and identity for the modern age, right on your phone.
- 53:58Most people don't know that this is happening or understand it, but privacy experts are calling for states to slam the brakes before it's too late.
- 54:05Jay Stanley from the ACLU explains their biggest concern.
- 54:20Start yelling and screaming about this and saying, like, look, we're building something that's very dangerous here for civil liberties.
- 54:25So, what's the purpose of something like a digital ID?
- 54:28Well, proponents say it is all about convenience and security.
- 54:31There's all kinds of risk and fraud getting worse all the time, every day by the fact that there's AI generated documents.
- 54:40And I could generate one printed out, use it in these flows, and uh assign up for a bank account.
- 54:47So that's increasing the need of business to move towards something more definitive, more deterministic.
- 54:54Let's check cryptographic signatures on something.
- 54:57What's the way you do that?
- 54:59Then you know, mobile driver's license gives you the option to do that.
- 55:02So, what do you really need to know before you sign up for one of these programs?
- 55:06That's where the story shifts from convenience to privacy.
- 55:09Recently, a coalition of digital surveillance privacy watchdogs, including the ACLU, signed an open letter with a warning.
- 55:17Here's Jay Stanley from the ACLU again.
- 55:19We're seeing that the version that's being pushed in the states, some of them will allow the states to uh ping the government every time you show your ID to you know, a doctor's office, uh, a liquor store, a bar, a uh, you know, um a website, maybe an adult website, maybe another website.
- 55:38Um, and all that data would flow to the government.
- 55:41This is not a way to design a digital ID system if we're gonna have a digital ID system.
- 55:46The ACLU worries time is running out to make sure the right privacy protections are in place before it's too late.
- 55:52We need to get lots more states on board this demand for good privacy and accessibility protections, otherwise um this will become a bandwagon, you know, at a certain point all the states are gonna have to be interoperable, and um there's gonna have to be a standard, and we don't want to get locked in to an authoritarian government and corporate you know spying mechanism for potential for potentially you know generations because you know it's gonna be very hard to change this once it gets locked in.
- 56:21Gold has more than doubled in just five years, rising from seventeen hundred an ounce in 2020 to over thirty eight hundred an ounce by September 2025.
- 56:31That's a 124% gain outperforming the market and proving why gold is the ultimate long-term hedge.
- 56:38As global debt soars and currencies weaken, central banks are hoarding gold at record pace.
- 56:43Why aren't you?
- 56:44Call 844, 426-4653, or visit BMC H A M.com.
- 56:50Protect your future with real assets.
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- 56:55Next show will be on whatever it's on.
- 56:57I know I'm gonna be right about that.
- 56:59I agree with you on that.
- 57:00All right.
- 57:00Take care.
- 57:01Ciao.
- 57:02In uncertain times, the smartest money doesn't sit in the stock market.
- 57:06It holds weight.
- 57:07The price of gold has risen from 1700 an ounce in 2020 to over 3800 by late 2025.
- 57:14Silver is currently around 46 an ounce, a 155% increase from roughly $18 five years ago.
- 57:21Follow on X at BMC underscore H A M for all news and the latest developments.