The Dan Bongino Show - The Bongino Brief - October 1, 2022

Episode Date: October 1, 2022

England's buying back of bonds is a move to save the stock market and flush more money into the system. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Dan Bongino. Welcome to the Bongino Brief. I'm Dan Bongino. Folks, two massive international stories involving both war and the global economy. Now, the story's about who hit the Nord Stream pipeline. I'm going to get to that in a second. That's the important one.

But this story is huge for the global economy. It may not seem so. You may not hear about this on other shows. Wall Street Journal. Don't be deceived by the rather anodyne headline, by the way. Bank of England to buy bonds in a bid to stop spread of crisis. UK Central Bank is launching an effort to restore order to the market for gilts. You're like, what the hell cares? What is that? This is a cataclysmic level story. Let me explain it very simply. If you want to flush an economy with money and you're the Bank of England or the central bank here, the Federal Reserve in the United States, one of the ways to

do it is to go and buy bonds, which injects money into the economy. It's really no more complicated than that. The wonkery of how it's done, you can look it up. It's not super complicated. You get it? You want to insert money

into an economy, call it quantitative easing, all kinds of names for it. You just buy a bunch of bonds. You create the money digitally and the money appears in the economy. No more complicated than that. Now, you may be saying to yourself, reading this headline, look at the date, folks, by the way.

September 28, 2022. Joe, last time I checked, that's today. Yeah. Bank of... Just checking. Yeah. This isn't from two years ago. So I know what a lot of you were thinking.

So the United Kingdom right now, which is suffering an inflation crisis even worse than ours here. One of the ways to combat massive inflation here and around the world is to drain money out of the economy because there's too much money chasing fewer goods. is to drain money out of the economy because there's too much money chasing fewer goods. So you're like, wait, am I reading that headline again? They're about to buy bonds and inject more money in the economy? Yeah, baby. Spend that bread. Spend that bread.

My daughter says they call it bread. Money, I don't know. I'm not hip to the young people talk anymore. I'm old. I'm 47, right? Save the stock market, baby. Screw grandma. You see what's going on here? So Liz Truss is the new prime minister. She's relatively conservative by United Kingdom standards. She's in after Boris Johnson got the boot. Truss is trying to move the country in a

more conservative direction. Well, what's going on here? I'm absolutely convinced that people in the central bank of the Bank of England are trying to screw her over right now. The stock market, their financial market, and their bond market are not doing great right now. So the Bank of England is flushing money into the economy in an effort to give like an artificial drug-induced sugar high to the market over there. Folks, listen to me. I don't want to regret starting the show with this. If we lose the listeners, I'm going to be really angry at myself. This is a huge story. This is financial suicide. You understand what they're doing? In an effort to save the stock market quickly and make trust look like an idiot.

In a massive inflation crisis, they're flushing more money into the economy. You're like, what? Yes. Now, why does that matter? Well, because the beatings will continue until morale improves. Their currency is on the verge of collapse. The pound is already collapsing now against the U.S. dollar. This matters for you. Why? Well, what happens in the U.K. is going to spread around the world, home of the bond market, right?

But it matters to you because I'm telling you, ladies and gentlemen, right before an election, I wouldn't be surprised at all if the Biden White House starts putting pressure on Jerome Powell at the Fed to do the same damn thing here. You know that quantitative easing to buy into bonds? Maybe we double down on that. Give the stock market a little juice before the election. Ladies and gentlemen, it will cause an inflationary cascade like you've never seen. The currency will collapse. This is a huge story. More in a minute, but first, we have a new sponsor I'm really excited to tell you about, Windshield Wow from

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That's HenryUSA.com to order a free catalog and decals and to learn more about this great American company. Now, that's not the only major international story. I hope that didn't bore you with that, folks. I'm fascinated by economics. I'm not sure if many of you are. You cannot do this in the middle of an inflation crisis. This one's even more important, which I regret not covering yesterday. Who hit the Nord Stream pipeline?

The Nord Stream pipeline is a pipeline under the Baltic Sea, delivers gas from Russia to Germany. It is a critical pipeline. The pipeline was sabotaged. There's no question about it. It is now leaking into the Baltic Sea, creating a serious shipping crisis because it changes the buoyancy of the water. As you read this, the ships can't go anywhere, not to mention the potential of a massive fire. I didn't know that. Yeah.

Oh, yeah. I read it online, one of the articles. I was doing some research. It changes the buoyancy of the water. And also, you have the obvious possibility of a massive fire. The gas will obviously ignite. So this has created a huge crisis. Not to mention the fact that the Nord Stream pipeline is one of the major delivery systems for Russian gas to Germany. Now, it was only running at about 20%. Why? Because Putin's trying to starve Germany and freeze them out during the winter by not giving them gas. Everybody tracking? So who hit this thing? Daily Wire is a good piece of the newsletter. Ben Zeisloff, I encourage you to check out.

Nord Stream Pipeline says unprecedented damage after the CIA warned the German government of sabotage. A report from German news outlet Spiegel said that the CIA had cautioned Germany about possible attacks on Baltic Sea gas pipelines weeks ago. Berlin is presently assuming it was a targeted attack on the Nord Stream system, unnamed sources say. Folks, you have to start asking yourself now the obvious questions. Who hit this thing? Where is this going to go? You see why these two stories are so important? The United Kingdom, the Bank of England may have just started an international currency crisis that takes down the world economy. I'm not kidding. And whoever hit this Nord Stream pipeline, the Russian delivery system to Germany may have just started the World War I Archduke Ferdinand moment.

Tucker covered this last night too, but this is a huge deal. Who hit this thing? There are obvious usual suspects. I'm not talking about the movie. Just thinking of that lineup and the usual suspects. Give me money, man. That was English. What the? I was thinking, sorry. Who did it? Russia? The United States? Germany? With Germany, who did it? I want you to remember this though. Here's a cut. Hat tip, Mike Cernovich. I saw this on a social media feed yesterday. Here is Biden. This is months ago answering a question about what would happen if Russia escalates and specifically mentioning the Nord Stream pipeline. Listen to what he says very closely, especially the end of this. Check this out. If Germany, if if Russia invades, that means tanks or troops crossing the the border of Ukraine again, then there will be there will be no longer a Nord Stream 2. We will bring an end to it. But how will you do that exactly since the project and control of the project is within Germany's control? We will.

I promise you we'll be able to do it. Again, his words, you know, not mine. What did he mean by that? For as dopey as this guy is, he's got a tendency to kind of out himself now making the situation even more bizarre this article in forbes by michael schellenberger dated yesterday u.s blew up russia gas pipelines nordstream one and two says former polish defense minister who thanked the u.S. for doing that. Interesting, because they have a different gas delivery system.

Folks, what the hell is going on here? You have to ask yourself now, and you have to do this using reason, which liberals are incapable of most of the time. But put the politics aside for a minute, even though I didn't just do that there. Whose motivations would, who would be motivated more to do this? You might say, well, Russia, Russia would sabotage the pipeline because if Russia sabotages the pipeline, there'd be no gas to Germany. Germany would be frozen out during the winter. The pipeline was operating at 20%. Russia sabotaged it to put them in a bad spot. That's certainly possible.

However, I think it's highly unlikely. Russia's already flaming gas, burning it off in their own home territory, wasting all of this money. They could just shut the pipeline down. Now, shutting it down has long-term ramifications, but Joe, so does blowing it up. Why not just shut it down? It doesn't make sense. No, no, no, they won't shut it down because it could damage the pipeline. It'd be hard to start up again.

Yeah, so does blowing it up. But what are the United States' potential motivations, the Biden administration specifically? Because they're not your motivations. The Biden administration specifically. Because they're not your motivations. Well, they'd create some dependency by European countries on LNG deliveries from us, on gas from us. And it also reinforced alternate delivery systems from Poland and elsewhere. Hmm. Sounds like a good deal.

Also, do you notice how the left hates pipelines now? They don't want to advance Keystone. If they could legally get away with it, even sometimes they haven't, they'll sabotage pipelines here. Is the Biden administration crazy enough to do this, to light a spark that might cause World War III? The answer is, I wouldn't be surprised. And I bet neither would you. I don't know who did this. Let me be absolutely clear on that. I don't know. I don't have CIA sources peeking into me and telling me. I'm just looking at this reasonably saying who has motivations to do this. And the motivations of the Biden administration and the green agenda, I think are far greater than the motivations of Russia right now.

However, Russia's in a bad spot too, a really bad spot now. This pipeline was pretty, pretty damaged. Now you'd think the United Kingdom, I just got done talking about it in the Bank of England, now engaging in economic suicide, wouldn't at least engage in energy suicide too. The verdict is in, you'd be wrong. BBC from two days ago, labor conference. It's the equivalent of the Democrat liberal movement here, labor. Starmer's ambition is to get off fossil fuels by 2030. Brian Wheeler, BBC. You're in the middle of being frozen to death. European countries, the United Kingdom in the middle of a massive economic crisis bills,

electric bills and fuel bills to keep homes warm during the upcoming winter in the UK are exploding and the liberal movement in the United Kingdom. They're eager to get off fossil fuels by 2030, just eight years from now, to make sure you freeze to death. Ladies and gentlemen, this is freaking suicide. Right here. You're watching it right now. I'm going to stay on top of these stories. Who hit the Nord Stream pipeline? And what the hell does the Fed and the United States do now that the Bank of England has thrown caution to the wind and just basically threw a gallon of gasoline on a campfire in the middle of a bunch of dry leaves.

Inflation crisis is about to explode.