The Dan Bongino Show - Trump’s Bold Move (Ep 1050)

Episode Date: August 22, 2019

In this episode I address the latest outrageous charges by this leading Democrat against President Trump. I also discuss the latest Trump proposal to end birthright citizenship. Finally, I address the suspicious disappearance of FBI emails and texts and what they’re really hiding.  News Picks:President Trump is seriously considering ending birthright citizenship.   This brief article sums up the birthright citizenship issues.    More ridiculous Paul Krugman liberal predictions gone wrong.   A NY Times employee is exposed for his anti-Semitic tweets.   A troubling ruling about the electoral college.   Copyright Dan Bongino All Rights Reserved. Learn more about your ad choices. Visit podcastchoices.com/adchoices

get ready to hear the truth about america on a show that's not immune to the facts with your host dan bongino they're doing it again folks they are doing it again again waking up every morning as a liberal looking in the mirror must be deeply disturbing knowing your life is a lie it's a lie a fabrication a teddy ruxpin fairy tale an aesop's fable a made-up myth uh roman greek mythology it's a joke oh boy it gets old all right welcome to the damn bongino show producer joe how are you today my friend again with the lies on this thundering thursday again with the lies oh dude you're always so dramatic he cracks me up joe really joe was a performer you could tell at one point in his life when he was a big time rock and roller we need some pictures of that on

the show by the way i want a joe armacost rock and roll picture blonde curly hair bring down the audience would go crazy over that yeah they would love that all right i got a stack show for you today i'm going to open up with a video that's going to disturb you. A hat tip to a Francis Brennan for putting it together. Proving to you conclusively, again, that the liberals' new myth, remember it was Russian collusion, then it went on to racism, Trump's a racist. Now it's moving on to the fake recession they're trying to create. Proving you it's a myth.

I also have, yeah, it's good. The three R's, we'll call them. And it's not reading, the fake recession they're trying to create proving you it's a myth i also have yeah it's good the three r's we'll call them and it's not reading writing and arithmetic right i also want to move on to some damning information about what the fbi is up to now that it's going to really blow your mind i want to explain to you why they're doing it all right let's get right to it today's show brought to you by our buddies at proactive proactive listen school's coming back school's already started actually for my kids but breakouts don't have to parents wouldn't it be great to get your kids clear skin confident nobody wants their kids with with acne it's payout listen i had it when i was a kid it's tough it's tough to deal with as a parent nothing is worse than seeing your kids go back to school not feeling

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Order and make your kid's first day back to school the best ever. Proactive.com slash Bongino. All right, let's go. Nice. Man, I just can't get that right. My coordination's awful. It's me getting old. Okay, so story number one.

Let me just play this video. Again, I told you the three R's. Keep the three R's in mind. You'll understand what's going on right now the democrats have completely belly flopped on their fake russian collusion charge now as indicated by the new york times and leaked uh in a leaked memo the new york times is now moving on to another hoax that trump is a racist hoax and then they're also going to move on to the other are the fake recession hopes they want a recession new york times and others so to advance this trump is a racist false narrative they're going to continue

to lie to your face here is a damning piece of video again hat tip at francis brennan on twitter a damning piece of video of joe biden laying out a charge a completely false charge and i want you to watch it's about a minute and a And I want you to watch. It's about a minute and a half. I want you to watch and listen to the video and audio afterwards of the charge being completely rebutted. But no one in the media, of course, will hold Joe Biden to account. Check this video out.

David Duke, head of the Ku Klux Klan, former head of the Klan. When that group came out of the woods, carrying the fields, carrying those torches, he said, quote, that's why we voted for Donald Trump. He said he would take the country back. And the white nationalist, Richard Spencer, he hailed Trump. He said, this is the white nationalism we've been looking for. Did you hear him condemn either one of those people? Ever utter a word of condemnation? I totally disavow the Klu Klux Klan. I totally disavow David Duke.

When you say the party is self-destructing, what do you see as the biggest problem with the Reform Party right now? Well, you've got David Duke just joined. A bigot, a racist, a problem. I mean, this is not exactly the people you want in your party. So are you prepared right now to make a clear and unequivocal statement renouncing the support of all white supremacists? Of course I am. Of course I am. How many times do I have to reject? I've rejected David Duke, rejected David Duke. I've rejected the KKK, the Ku Klux Klan. The neo-Nazis and the white nationalists, because they should be condemned totally.

All right. Change those batteries, Joe. Yeah. That was good. Thank you. You, you, you're good. You, you. I can't stand Robert De Niro, but you, you.

Did I miss something? I mean, this is my problem with the media. Listen, my problem, candidly, is not with Joe Biden. You may say, what do you mean? Joe Biden's a liar. He's a liar. Like every liberal Democrat politician that lies to you about fairy tale economics socialism they're just liars that's what you expect they're power hungry lunatics

like joe biden oh uncle joe he's not my uncle i didn't have any uncle i had uncles that actually worked for a living not like uncle joe's never had a real job outside of politics okay uncle joe is a liar he's a lying lunatic whoatic who's fumbling and bumbling through his campaign. Sleepy, low-energy Joe. Lion Joe. Ukraine Joe. China Joe.

With all of these connections to these countries and his son and these shady deals. Corrupt Joe. Swamp rat Joe. Lion Joe. Obama takes a shower Joe.

Remember Joe, that one? You were talking about it with me before the show? Yeah. Obama, he's the first candidate we have who's African-American and clean. Clean. What the heck does that mean? He takes a shower? What are you, some kind of a racist?

Let me get this straight, Joe. That's the first black man you've met that you think is, quote, clean? His words, not mine. No. I could introduce you to quite a few. I promise you. That's the first black man you've met you think, clean? His words, not mine. I could introduce you to quite a few. I promise you. That's the first black man you've met you think is clean? How do you interpret that

any other way? Joe Biden is an idiot. But I'm not mad at Joe for being an idiot because it's just what I expect. I know that may sound bad, but you can't be disappointed when your expectations are nil

right right i mean right like i know joe armacost and his work product if joe were to send me over a podcast with awful audio because my expectations are i'd be like joe what did you do but if i'm working with joe joe's terrible and we have no money which he's not and i have to pay a low budget producer really doesn't know what they're doing and my expectations are low and i get uh usable but crappy audio I'm not disappointed that's what I expected I expected crappy audio from Biden and that's exactly what you get

why I'm disappointed why I'm bringing this up is not to just pile on crappy lying Biden but he's a liar he's a liar I love the media to oh he's engaging and misinformation no he's a liar he's a liar he knows what he's saying is false what I'm. I love the media. Oh, he's engaging in misinformation. No, he's a liar. He's a liar.

He knows what he's saying is false. What I'm mad at is the media. Yeah. Because this at Francis Brennan on Twitter probably did a basic Google search. Found this. This video is right there for everyone to see of Trump renouncing the Ku Klux Klan racism. David Duke. Anybody can see it's not altered video.

And they just pretend it doesn't happen. The New York Times, the Washington Post, we're going to report on every lie Donald Trump tells. Okay, fine. What about the lies Biden's told? Over and over and over. Folks, it's pathetic. It is pathetic.

It is so sad to watch what once was, well, not in my lifetime, but maybe prior to my lifetime, what was a semi-reputable field in journalism entirely collapse into conspiracy theory, basically blogging. That's all this is now. You're not going to hold Biden to account for saying that yesterday, knowing the evidence is clear that he is absolutely categorically lying and making it up. Outrageous. Yeah. Outrageous. All right. I can spend all day on this. We're going to move on.

Hey, by the way, quick shout out. A friend of mine asked me to just mention this. And I really want to because we share some work history in common, let's say. Our friend, Eric Littlejohn, get better, man. I heard you're a listener to the show. I know you're struggling right now. I'm not going to mention what, but it's a medical thing, and God bless you, brother. We'll be praying for you, folks. Eric Littlejohn, so friend of a friend. We share some work history together. We get your your struggles so i want to make sure i brought that up um all right moving on because this is an important story ladies and gentlemen this this again the spy gate thing is blowing wide open right now for a number of

little yeah i'm getting a little hot in here so i'm just blowing my stuff all over the place but it's you know i always need to have the temperature like it's 65 degrees. It's ridiculous. I just saw that thing that, what is it? They're putting out sleep under your air conditioner at 82 degrees. Yeah. Okay. Sure. I put it at 68 with the fan on.

What are you guys? Yeah, exactly. What are you guys nuts? So Tom Fitton put this tweet out yesterday and I want to explain to you what's going on behind the scenes, why this matters to you and what the FBI is really hiding. Christopher Wray, head of the FBI has been a total disaster since his appointment appointment right so tom finton from judicial watch he's at tom finton on twitter christopher ray wants the fbi to stall until well after the next president presidential election before completing the release of the emails and texts between corrupt fbi officials peter stroke

and lisa page 26 months that's how long they want after the election for 13 000 pages donald trump should order the fbi to comply with law and stop the stonewalling ladies and gentlemen what's going on here now those texts in the specific time period i'm referring to um they're not necessarily the same batches but what is the fbi hiding what's going on behind the scenes i want to hat tip my buddy 279 one one of my sources on this. But folks, it's clear now that the time period of December of 2016, up and until the appointment of Bob Mueller in May of 2017, that time period, ladies and gentlemen, is critical. Why? That time period, ladies and gentlemen, is critical.

Why? That's the time period that suspiciously we have had a difficult time acquiring the texts and emails of FBI investigator investigating the Trump spy gate thing. Peter Stroke and his FBI lawyer girlfriend who was involved in this at the management level to Lisa Page. We can't get those texts. Thebi is claiming all kinds of technical problems uh muller's team oh we don't know what happened to them we don't know what happened to that time period why are they hiding those texts what are i what do i think they're hiding it's becoming clear yesterday in light of these bruce or 302s folks here's the long and short of it. I want to put up for you first an Epoch Times piece. This is by an Epoch Times piece

by Nick Short. Spit it out, Dan. And maybe this will make some sense. The Epoch Times, did John Brennan perjure himself in denying use of the Steele dossier by Nick Short, August 8th, 2019? There's a quote from this

that is damning. Here's John Brennan up on the Hill giving some testimony and asked specifically about his use of Steele's information. And remember, I want you to keep this December to May time period in mind. Okay. From the Epoch Times piece, Trey Gowdy asks him, John Brennan, under oath, do you know if the FBI ever relied on the Steele dossier as any part of any court filings, applications, petitions, or pleadings? Brennan, under oath, do you know if the FBI ever relied on the Steele dossier as any part of any court filings, applications, petitions, or pleadings? Brennan, I have no awareness. Nick Short goes on, what is even more telling is Brennan's outright denial that the CIA ever relied on the Steele dossier. And that it was, quote, not in any way used as the basis for the intelligence community assessment that was done.

Gowdy asks Brennan, did the CIA rely on it? Talking about the dossier. Mr. Brennan, no. no folks here's the problem christopher steel who is putting together this information for the fbi and the cia and the clinton campaign he's being paid by the clinton campaign to gin up this information he's a uk a former uk spy who's now in private business he's being paid for this we know he hates don Trump. We know his motivations are political. How do we know that? Because he's already told the FBI his goal is to not get Donald Trump elected. At some point, he starts piping information into the FBI right around late fall, winter of 2016.

late fall, winter of 2016. What's the problem with that? The problem is the information he's piping to the FBI is obviously false. We've seen it. He wrote it down in the dossier. The information is incorrect. The charges aren't true, ladies and gentlemen. Now, as we know from John Solomon's article yesterday, he has sources indicating that,

and I have sources too, again, hat tip to my guy, that the FBI may have been reciprocating and giving information to Steele too. Now, ladies and gentlemen, this is a big problem. Here's what I think is going on. Here's how I tie it to the Decembercember may time period and john brennan i think the and they i write this again in my second book this is kind of the spy story told a narrative format rather than my first book spy gate which is more of a kind of a police file story folks there's a cabal of people former intel people and having talked with my source this morning the best way to explain it is when you leave whatever profession you have in law enforcement or intel you don't really leave

ladies and gentlemen in other words like i left the secret service and afterwards there is a a group of people former secret service agents and managers and they basically run security for some of the biggest firms so it's not a bad thing. It's just they have expertise and companies hire them. Banks hire them. Celebrities hire them. Executives hire them for security and their investigative expertise. Those group of Secret Service agents, they talk to each other. It's not some formal thing meant to be evil or pernicious. It just is. It's a contact network. They talk through LinkedIn and emails. The same thing happens in the Intel community. Follow me here. In the Intel community, when you are working there as an upper level manager, the CIA, the NSA, you keep contacts,

foreign contacts, domestic contacts. These people leave. They do what Steele does. They create their own private businesses where they leverage their formal Intel contacts. And people leave. They do what Steele does. They create their own private businesses where they leverage their formal Intel contacts. And what do they do? They provide Intel then to the business world. Okay. You digging? I'm a CIA guy.

I leave. I retire. I'm a former CIA guy. I start Bongino Intel. And then businesses hire me to get Intel. A business is opening a shop in Indonesia. They want some Intel on what the environment is like over there. So who are you going to go to?

You're going to go to the CIA guy, a former guy who has his own business, who then contacts his former contacts in Indonesia and says, hey, can you give me some stuff? Folks, untoward a little bit, maybe, but it's just the way things work. How does this relate to what's going on now and why Christopher Wray is hiding these texts and emails it's now becoming clear that a cabal of former intel people and active intel people who all know each other christopher steel former british spy working for hillary richard dearlove former head of the British Intel Service, who knows Steele, who vouches for Steele.

Volekyshev, I always say his first name wrong, Trebnikov, a Russian former spy directly connected to Putin. There's no former spies in Russia, ironically, but you get the point. Who teaches a class with Halper. Who knows Dearlove, who knows Steele. This is a network of former Intel community people, Steele, Dearlove, Halper, Trebnickoff, who clearly at this point, these charges originate within that small group of Intel people.

Steele becomes the face of those charges. Those charges are written down in the form of the Steele dossier, which becomes the FISA warrant. Okay. To spy on Trump. The question now becomes, what was ground zero for those charges?

Now, I think it's clear that a lot of it comes from Glenn Simpson, who wrote the movie script article in 2007 in the wall street journal, where he talks about some of the same players in the dossier. So in other words, although steals the public face of the charge, he has to be because he's a, he's a verified source with the FBI from working with them before.

He has to be the guy. I believe the charges do not originate exclusively with steel. A lot of them come from Simpson, his wall street Journal movie script. Simpson's wife, who at one point acknowledges on her Facebook page that Simpson is the one who took down Trump. She says it in a roundabout kind of way. She deletes the post later. Mm-hmm.

But I don't believe it only came from Simpson. But I don't believe it only came from Simpson. I believe a lot of this information may have originated within that cabal, and that cabal may have been getting some information from our own upper-level Intel people. Think about that. Think about what I just told you. Intel used to spy on a presidential campaign, a transition, and an administration is not coming from a verified source, Christopher Steele, as the FBI is swearing to in their FISA warrant. This all came from Steele.

Some of it, ladies and gentlemen, may have been originating from our own people. The FBI and intelligence folks. Now does that epic times, the transcript of John Brennan, him distancing himself from Steele, make a little bit more sense? Now, I want you to think about something i know this is going to be a little confusing today and i'm gonna move on and make a lot more to get to but this is critical because it goes back to again how we opened up the segment what is the fbi hiding in these emails and texts okay lisa page the fbi lawyer who's intimately involved in this whole case she's having an affair with strokeke, the lead investigator, FBI investigator, is up on Capitol Hill and is asked at one point under oath

if she's aware that Steele may have been, his information may have made its way to the CIA too. She says, I would be shocked by that. Ladies and gentlemen, I don't think she's lying. gentlemen, I don't think she's lying. Steele and the CIA and this small group of people Brennan knows and is working with, I believe, are engaging in a two-way street. Steele gives them something. They give Steele something.

Steele gives it to Halper. Halper gives it back to Steele. Steele feeds it back to the FBI. It somehow winds up in a document. What's the document to spy on the Trump team? What's the problem with that? Ladies and gentlemen, it's never designed to be a two-way street. The source is supposed to be providing information himself. Now, how does this relate to the text and the December to May time period? Because it's clear that the only way to spy on

the Trump team is to produce probable cause to go in front of a FISA court that someone on the Trump team is to produce probable cause to go in front of a FISA court that someone on the Trump team, you have to produce two things, is working on behalf of a foreign agent and is doing so in violation with U.S. law. You have to produce evidence amounting to probable cause that this is happening. Ladies and gentlemen,

they don't have any evidence. All they have are the allegations that Steele puts his name on. Right. Now, that may have flown in the original FISA in October, where they swear to it and say, okay, we got this information from Steele. Ladies and gentlemen, they renewed it three times, showing you they didn't have anything else.

They go back to Steele after he's fired by the FBI and deemed not suitable for use through Bruce Ohr. They use Bruce Ohr, a DOJ official, to reconnect to Steele after they fired him. Why? Because they have to renew the FISA three more times with new, new, new, new information. They can't just recycle the old stuff.

What's the problem, Joe? They don't have any new information they can't just recycle the old stuff what's the problem joe they don't have any new information they've only got steel and the cabal of intel people that are feeding him stuff and he's feeding it back so they tell or go reconnect with steel it's all they have do you understand why the renewals are so devastating? They already know Steele's information is garbage. It's already been discredited. What is the time period Steele, who's been fired by the FBI, what is the time period he reconnects during his interviews with Bruce Ohr, December of 2016, all the way through May?

Conveniently, the same time period the texts and emails of Stroke, the FBI investigator, and Lisa Page have poof, disappeared. Ladies and gentlemen, is it just possible that

those two are emailing each other about the continued use of an already fired, terminated source? Laundering his information, steal that is, through Bruce Ohr. And that they're openly questioning if this information has any bones on it at all. As they're swearing it's true to a court three times. From December all the way through June of the next year why is Christopher Wray hiding this folks this was a sophisticated information laundering scheme information is being passed it seems clear at this point from either our FBI or intel community to steel or people in

his small cabal of former intel people that network with each other tribnikov dear love steel halper it's then being fed back through the public face of its steel public at least investigatively the investigators not public to all of us at the time, because he's the only guy who's worked with the FBI and to be deemed credible. He's then fired for leaking to the media, and then because they have nothing else to reestablish probable cause, they bring him back in in this December to May period

where conveniently the texts and emails have disappeared. Folks, this was a parallel construction scheme from the start. It is transparently obvious at this point. Page is confused about Steele being a source for the CIA because she's hearing information from the CIA

that mirrors what Steele is saying. Why is she hearing information from the intelligence agency that mirrors what Steele is saying? Because it steals information. She just doesn't know it. Your neighbor tells you Joe robbed the bank. Your other neighbor tells you, did you hear Joe robbed the bank? Another neighbor, did you hear Joe robbed the bank?

You're pretty convinced Joe robbed the bank. What's the problem? It all started with a fourth neighbor who hates Joe, made up the rumor that Joe robbed the bank and told the three other neighbors. Yeah. You get it? Yeah. It all originated with this two-way street,

this cabal, Steele, the Dear Love folks, Hannigan, these Intel folks, foreign Intel people, who are making all of this up. Devastating. foreign intel people who are making all of this up devastating devastating stuff and now it explains why ray is hiding all of this i guarantee you i guarantee you when this becomes public they're going to find those texts and emails

i guarantee you you are going to see exchanges between the lead investigator Stroke and Page where they are publicly questioning the information Steele's providing through Orr, repeatedly saying this can't be true, and they're going into court and swearing it's true. No doubt in my mind anymore. Again, hat tip to 279. Always on the ball. All right, folks, today's show also brought to you by our buddies at iTarget Pro. iTarget Pro. Folks, if you're going to own a firearm, two things matter. One, you obviously have to be safe with it. We all know that. But

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Just understand that the time period in question, December to May, the FBI and the upper level man know they have damning information, emails and texts where the FBI themselves is questioning a source. That source is Steele and their cabal. They know this information is garbage as they're swearing to it. That's the takeaway. Hence Tom Fitton's tweet. And the reason I put that Epic Times piece up is because I believe Brennan was using that source as well, feeding that information to the FBI and pretending it wasn't coming from the same guy, Steele. So when the FBI hears it for the second time from Brennan, they're like oh that sounds legit that's why brennan's running away

from it but it's important you understand that because all this is going to come out soon all right moving on um i said yesterday i was going to talk about this piece i've got a couple i got some crazy video by the way the blinds you know we just it's so for joe cleed that ever it's hysterical don't miss it that's coming up but i wanted to address this in regards to the economy because it feeds into my three r's theory right uh russian collusion the hoax and the media is trans you know transitioning seamlessly from hoax to hoax to hoax so it was the russian collusion hoax then it's the trump is a racist hoax and now they're moving on to the recession hoax there's no recession there may be government spending's out of control i hope there isn't but there's no recession now There's no evidence that there's a recession,

but the media loves to promote a recession because they hate Donald Trump and they want to see a recession as Bill Maher indicated on his own show. And they keep pointing to this inverted yield curve. I wanted to kind of unscrew this yield curve inversion thing to you because it keeps getting cited in the media

and it's tough for a lot of people to digest what it means and why the media keeps using it as evidence of recession is near here's this article in the wall street journal that was really well done it was from yesterday it's in yesterday's show notes it's by subscription only but you may be able to get into it it's really good it's worth your time andy puzzler and john harley recession fields are overblown the yield curve is no longer a liableor, and other economic indicators are strong. So let's put out the broken media hypothesis first. They're saying the inverted yield curve, which means interest rates paid on bonds,

short-term and long-term, it inverted. Now, in a normal functioning economy, ladies and gentlemen, just think this through. The interest you would demand to lend someone money on a long timeline, 10 years, is pretty much always going to be higher than if you're lending them that money overnight

or for a few weeks. Why? Well, it's simple. Just think it through. If you're lending your buddy money for 10 years, his risk, he could go bankrupt. Yeah. Right?

Yeah. His risk, God forbid, he could go bankrupt. Yeah. Right? Yeah. His risk, God forbid, he could die. He could get into a medical bankruptcy. He could just not like you anymore and say, I'm not paying that back. So people who lend money long-term typically demand more compensation from their risk and therefore a higher interest rate,

higher payments for them. Very simple. Short-term, it's not that much. If I'm lending Joe money for a couple weeks, I know Joe's going to pay. It's really not that much of a risk. I'd probably just say, you don't even worry about the interest, Joe, just take it. That's how it works. So what happens is low interest rates for short-term lending, because it's pretty low risk, higher interest rates. Well, what's happening and what's happened before pretty much every recession is that yield the yield the interest rate inverts and by inverts i mean long-term interest rates are lower than short-term

ones now why is that well there are a lot of theories as to why that happens but one of the generally accepted ones is people before a recession, businesses start to see a bad economic environment ahead. They're uncertain about the economic conditions in the future. So they see in the future, there's not going to be a lot of good investment opportunities and a lot of return on their money. So they rush into buying stuff, say 10 year and five year bonds folks because they just want to lock in basically whatever return they can get you get me what i'm saying yeah in other words that's an easy one yeah long term becomes a real risk because you think the economy's gonna stink so you're like

okay what is it one percent i just give me the one percent i just don't want to lose my money okay so that's what that's what typically happens And people rush into longer term stuff. They stay away in general from the short term stuff. And because they rush to buy the stuff, the interest rate drops. Why? Because there's so much demand for this long term stuff that the people loaning the money say, well, I'm not going to give you. If I got 20 buyers for it, why would I give Joe 5%? I'm not going to give him 5% interest.

This guy's willing to take only two simple supply demand the demand for long-term stuff gets high people start to supply more you know the the the the price and uh the you know the yield goes down you don't have to pay as much that's what's happening. Now, the yield curve has inverted, the 1030 and others. It's back to the non-inverted now. But Puzder's piece is great because, folks, I believe the yield curve's inverting now. And I said this on, I think it was Judge Jeanine's show on Saturday. I didn't have time to explain it. Unfortunately, the clips are short. You got to be brief. But the judge asked me about that, about the yield curve. And I said, I think it's more of a monetary phenomenon right now. Ladies and gentlemen, here's why the yield curve is inverting now.

I don't believe it's because businesses think there's going to be a recession. The Treasury Department to fund our outrageous deficits. Outrageous. We're looking at a trillion dollar deficit this year alone. Unbelievable. I mean, these are Obama year deficits. I don't care who's in charge. We're spending too much money.

In a rush, Joe, to fund, to fund all this, the Treasury's issuing a whole boatload of short-term, short-term U.S. government denominated assets, which people are scooping up. People are scooping up. People are scooping up, and they're flooding the market with these things. It's causing, basically, the yields to rise as the prices go down

because the yields and prices move in the opposite direction for the reasons I stated before. So the yields are either stable or rising a little bit because they're flooding the market with these short-term assets. the long-term side people are rushing uh to buy on long-term u.s government assets as well long-term because there are negative yields around the world the bottom line is it's not a reflection of i think business sentiment it's more a reflection of the poor rest of the world's economy and negative interest rates there, as Puzder indicates in his piece, and the flooding of the market with these short-term bonds to fund their government, these ridiculous assets.

Bottom line is this. Don't let the media panic you about a recession. It may happen. It may. But the yield curve doesn't mean what it used to. It's not a reflection necessarily on business sentiment. I think it's more of a reflection of the flooding of the market and simple supply demand and the lack of investment opportunities around the world right now. I've been dying to get to that, but it's important.

Remember with bonds, prices and yields move in the opposite direction. You know, if you build a lot, if a bunch of people are looking to buy your bond, you're not going to pay them top dollar in interest rates. If a bunch of people, you're going to pay them as little as you can. You know, if people want to borrow my money, I'm not going to give them 5% if I only have to pay them 1%. That's why they move in the opposite direction. All right. Moving on, because there's been so much going on.

I don't want to miss out on the stories. This has been a Stack Newsweek. Trump mentioned yesterday at the White House, he's looking at, again, getting rid of birthright citizenship. The tenet that if you were born in the United States, you are, in fact, a citizen. I think this is a good idea.

Now, liberal myths, of course, liberals wake up in the morning and have to lie to you. They'll insist to you the 14th Amendment, as we can see here, indicates that this birthright is in the Constitution. Ladies and gentlemen, it is not in the Constitution. Let me read to you the 14th Amendment, Section 1. All persons born or naturalized in the United States and subject to the jurisdiction thereof are citizens of the United States in the state wherein they reside. Notice what this doesn't say. It doesn't say all persons born in the United States are citizens of the United States.

That's not what it says. Because the liberals in the media are already saying, well, Trump would have to change the Constitution. saying, well, Trump would have to change the constitution. Now there is some ambiguity based on some court rulings about what ends subject to the jurisdiction thereof means to be fair and give you both sides. But there has never been a Supreme court ruling saying conclusively, if you are born here, no caveats at all. You are a U.S. citizen. That is not what it says. There are two different kinds of jurisdiction. This has kind of been a deep show today. I'm sorry if it's like a little much.

But it's important. There's a lot going on. I know. I know we're digging into some complicated stuff. It's good. But it's really important. Yeah, we need it. Liberals will lie to you constantly.

It's up to us to clear the fog and get to the facts. Liberals want you to believe that that line, all persons born here and subject to the jurisdiction thereof, means territorial jurisdiction. In other words, liberals want you to believe that it is a settled matter that if you are born in our territory, United States territory, you're a citizen. Born in our territory, United States territory, you're a citizen. Folks, there is a strong body of historical texts and documents indicating that when this was written, after the, thankfully, the abolition of slavery, that that is not what it was meant to mean. A lot of constructionists, originalists in the Constitution, and people who have read the historical texts here, believe it means political jurisdiction. In other words, if you were born to two American citizen parents in France, you are a citizen because you end subject to the jurisdiction. You are subject to the political jurisdiction of the United States based on your parents being citizens.

Vice versa. If two foreign diplomats are working in the United States and give birth to a child, they are not U.S. citizens. They're ambassadors, diplomats, bureaucrats, and subject to the political jurisdiction of another country. That child is not a citizen, even though they were born in the territory. The distinction is clear. Now, again, to be fair

and give you the full argument, there would likely be a significant court fight if Trump were to move to push this. There's absolutely no doubt. And the court records and the historical texts are not crystal clear on this. But that buttresses our argument, not the left's. The left wants you to believe, so I got to move on some other stuff here. It's a Blasio video. I can't wait for so long. But the left wants you to believe it's a decided matter. They are referring to territorial

jurisdiction. If you were born in the United States, you were a citizen. That has not been decided in the courts. Full stop. It is an open question that Trump is fair and free and fair to entertain. If they mean political jurisdiction

and two citizens of Mexico, Guatemala, Canada or somewhere else come here solely to have a child in an effort to gain citizenship for that child and none of those neither of the parents are subject to the political jurisdiction of the United States

based on their citizenship then Trump is free and fair to ask the question is that child in fact a citizen? Don't believe the liberal hype. They're making it up that this is a decided issue. It is not. Territorial jurisdiction and political jurisdiction

has never been conclusively decided. Don't believe the nonsense. The media will lie to you endlessly it's actually embarrassing uh what they've been doing what they're up to all right uh last sponsor of the day and i want to get to de blasio and another you know everything liberals touch they destroy because it's just did i mean oh no i didn't man i'm looking at my stories and numbered today uh today's show also brought to you by buddies at bravo company manufacturing ladies and gentlemen these are the finest rifles and pistols on the market a nice email from a guy about a week ago you know who you are i said that uh what i you know what i've been talking about

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I usually don't do kind of comic relief stuff on the show because I've only got an hour with you, but this is worth it only because it's so funny. You may have seen it last night on Tucker and some of the Foxtel. So here's the backstory. Communist mayor of New York, comrade Bill de Blasio. De Blasio was supposed to fly out to this union get-together gathering to speak to them.

I believe it was out in Iowa. His flight gets canceled. I don't know what it was, whether or regardless. But de Blasio, of course, doesn't want to give up the opportunity to propagandize people. So he says, you know what? I can't make it, but let me talk via the internet. I don't know if he did a Skype or whatever. So they established the connection with comrade de Blasio. And the speech begins. So what you're going to hear is this is the guy running the conference who's about to introduce him. And I want you to listen very clearly hat tip joe for cleaning this up i want you to listen to what happens to the audio and hapless comrade de blasio is one percent as he's beginning to speak listen

to this this is hysterical check this out our next speaker was unable to make his flight, but still wanted to join us through video conferencing. Our next candidate to speak is the mayor of New York City, Mayor Bill de Blasio. Thank you. Hey, thank you, everybody. I'm so happy with you, and I apologize. I couldn't be there in person. I had a canceled flight and could not get to you by my time slot. But I want to just say before I get into anything about why I'm running for president, what we have to do in this country. I want to thank you for the fight you're waging every day. Oh, no.

Somebody. Oh, no. What the... Dude. So somebody... So, Joe, I'm not an audio guy. I didn't discuss this. I don't want to put you on the side. I didn't discuss it with you before the show. What do you think happened? Folks, by the way, that's not a joke. Joe, we didn't mess with...

No. That's really how the audio sounded. Yeah. And Paula's like, why isn't anybody laughing? And I'm like, maybe they were just in shock. They thought it was a scam, a joke. What do you think happened? Did they set the settings on the audio?

I don't know what happened with that. It could be audio settings. It could be a compression issue, a codec issue of coding and encoding. It's something like that. You hear that kind of noise occasionally in a Skype call. You know, I'm going to laugh a little bit. Can you imagine that? You're sitting there. Andula brought up a great point this one she's imagine right you're de blasio you don't know right obviously he doesn't know you know you know

he sounds like someone's got a rubber band on some of his body parts obviously de blasio doesn't know this so she goes imagine this right de blasio is trying to talk tough and imagine trying to sound tough with a with a voice digitally manipulated like that so de blasio is like you gotta take the fight like a new rocky speech we're gonna fight a winston churchill we're gonna fight on the beaches we're gonna fight on the shore we're gonna fight in the sky we are gonna fight on land on sea we're gonna fight fight fight fight and everybody in the audience is like dude stop talking please comrade de blasio i mean he's talking he doesn't realize that he's in this high-pitched voice and he's like i'm gonna fight and everybody in the audience has to be sitting there like, wait, is this some kind of a joke?

You know, listen, union workers are, whether you're pro or anti-union, I grew up in a union household. And I know a lot of union guys, electricians, steel workers. These are tough. I mean, really tough guys, like farm boy, strong, tough guys with serious calluses on their hand, dirt under their fingernails. Again, I know I'm not an anti-union guy. I'm an anti-monopoly guy.

I always celebrate the manual laborers and the skilled craftsmen in this country that built this country. You guys and women are great. They are super tough. But can you imagine sitting in a room, listening to this communist mayor in New York who's never had a real job in his life? This guy couldn't even, you know, he can't even manufacture ice.

He's so physically incapable of doing anything. And we gotta fight. We gotta fight. They have to be looking at each other like, this is the worst speech. There are people who, I doubt anyone support him. He's got zero support. But if he had 1% in the room the one percent walked around after that they were like now i'm definitely not voting for the body like that's the one speech he that's it he's down from

from from 0.05 percent to zero zero zero percent he now has no support in that room at all how embarrassing but that was a great point by paul She's like, can you imagine trying to sound tough and your voice is coming out? He doesn't even know. This guy's campaign, ladies and gentlemen, is doomed. It's over. Just let it go, Bill. I'm going to cover this, I think.

You know, I told you I'm filling in for Hannity on Friday. I appreciate if you tune in. But at the end of the Tucker show on Friday, I always do my news explosion. I'll be doing it right before I fill in for Hannity. I am going, this has to be included. So tune in on Friday night too. This is going to be one of my top three stories of the week. It may be number one. Bill de Blasio's just absolutely cursed presidential campaign. I got to fight. I'm not going to fight. Oh man, what a clown.

Total joker. All right. I got one last story, but before I get to that, Total joker. All right. I got one last story, but before I get to that, I bring this up often quite a bit on a very serious note. Segues are always tough from funny stuff to serious stuff, but it's worth mentioning. I got a Facebook message from a guy. You know who you are, a regular listener. I responded.

I don't get to respond to all the Facebook messages anymore because I just get a lot of them. I read them though, folks, And I'm sorry for doing that. I would really love to be more interactive, but the reality is I have to work for a living. And we get a lot, I do read them. I just can't respond to every single one, but we get a lot of messages out there from, I think it's because I brought it up once on the show from former addicts, people who've had substance abuse issues in the past who are fighting those demons and they're tough. And with it running in my family, I want you to know that those particular emails mean a lot to me and that those of you out there suffering with substance abuse issues,

you know, listen, I'm not your preacher, man. I'm not trying to be anybody's like a saving grace. That's not my goal. I'm just here to tell you that this show, you are always welcome here and your emails and you sharing your personal experiences with me really matters. It's run in my family for a very, very long time. I don't personally know the experience of it and I thank the Lord for that every day, but people I love and adore have battled it their entire lives and you are always welcome here, always.

You matter, man. You matter know you matter man you matter to me your words matter to me um it's actually very inspirational hearing that because i know the power these things have over you i've seen it i've seen it collapse lives man um it's i know you do too joe you know about it and i know you you know it's the power it takes over and and and the willpower it takes every day you know to wake up and combat this is strong and i deeply deeply appreciate your emails you are always welcome here you matter you matter to me you matter to your families you know and and i just hope even if you have a bad day you have that relapse that you realize that there's always a tomorrow and there's always

that opportunity to be a better man tomorrow than you were today or woman, but you're always welcome here. So again, just a quick thank you. I get a lot of those and I haven't had the opportunity in a while just to express my deep gratitude to people who are suffering with that. We're all sinners, folks. Everybody's waging our own battle, whether it's with substance abuse, alcohol, sex, drugs, rock and roll, whatever it may be. We've all got our own vices. That's yours. We've all got our own fights. You're always welcome on this show. We love you here, man. And woman, you matter. You matter to me. So thanks a lot. All right, moving on. Last story of the day. Again, we've had a lot during the week. I haven't been able to get to

because the Spygate stuff is breaking. And forgive me if that was a little convoluted or confusing today, but it's essential you understand what exactly they're hiding. So that's why I got to that. This is a story I've been holding for a bit too. There's a story in the Wall Street Journal about, again, everything liberals touch, they burn down and destroy. It's a cancer. It's a forest fire. Liberalism can't figure anything out because liberalism is based on the fatal conceit to quote Hayek. The idea that government bureaucrats can manage an economy better than people who have skin in the game can which is on its face a very absurd ridiculous idea so I don't you can't point out to me a situation where the government has managed something and done it better than the private sector matter of fact it's fascinating

because when you talk to liberals liberals will cite these examples of government successes, and even the examples they cite are failures in disguise. I'll give you just a quick example. I was listening to, right, this is, you're going to hear this a lot. I'm trying to prepare you for debating in this 2020 cycle because, you know, a lot of you work for a living. This is what I do. I get to read all day and put this together. You know, a lot of you don't get to do it. You're out getting dirt under your fingernails working for a living. So my what I do. I get to read all day and put this together. You know, a lot of you don't get to do it. You're out getting dirt under your fingernails working for a living. So my goal is to get you prepared in snippets. Liberals will say to you, well, you know, the government could do a lot of things better. I mean, look, you know, DARPA, they invented the internet. That was a

defense project funded by the government. They'll say things like the government, you know, they were an integral part of inventing fracking. Well, I was listening to one of my favorite podcasts, Econ Talk by Russ Roberts. It's a once a weeker, comes out on Monday. It's an hour long. It's pretty wonky, but Russ is a really brilliant guy. He doesn't share a lot of my political views,

but he's brilliant. And he had an interesting guy on last week. Liberals use that example all the time. Look, the government is is they're better at investing look at the internet thanks to DARPA DARPA did that well Russ said this guy on this weekend he's like that's actually totally not true there's a guy at DARPA who worked at DARPA I believe his name was Bob Taylor and this guy Bob Taylor actually left DARPA and went to work at you know outside of the government. To this day, you can

look at his writings where he says, DARPA didn't invent the internet. The DARPA-funded thing was a project between colleges and universities where they could talk to each other. The idea that the internet would connect the world instantly through websites and email, that was not DARPA's

idea. That was outside. The private sector did that. My whole point is idea that was the outside the private sector did that my whole point is this is that and the fracking thing the government oh they invented fracking no they actually didn't they had one research study about some uh what's this guy George Mitchell or someone puts that about foam in the ground or something like that and the fracking industry used the study but it wasn't like the genesis of fracking and the whole point of the thing is when government gets involved in an industry, what they do is they take money from the private sector

that probably would have invented the product faster and better. Now, from the Wall Street Journal piece, the government took over the student loan industry. We were told, well, when they take over student loans, this is going to be just terrific and peachy. The government's going to make a lot of money. Well, James Freeman in Wall Street Journal today writes, Elizabeth Warren's crisis has arrived. She claimed taxpayers would

profit from the scam that helped make her rich. She's talking about the whole student loan industry and the universities. From the piece where they actually cite another piece I read in the Wall Street Journal the day before, ladies and gentlemen, we were told when the government took over the student loan industry, we were going to make oodles of money well there's warren made headlines recently by predicting an economic crisis but the crisis has already arrived for taxpayers i'm quoting the piece and her fingerprints are all over it the journal explains listen to this folks since the government's taken over the student loan industry 10 of the 1.5 trillion dollar federal student loan portfolio is 30 days or more past due. Another 20% is in deferment or forbearance.

And about 30% is in income-based repayment plans that allow most borrowers to cap monthly payments at 10% of discretionary income and discharge the remaining balance after 20 years or 10 years for folks in, quote, public service. What does this mean to you, ladies and gentlemen? That means the cost to taxpayers is estimated by professionals looking at this, the cost to you to pay for other people's college. Yes. That was supposed to make the government oodles of money

because they're so good at dictating loan terms and determining creditworthiness and not subjecting the loans to political influence. We've got to make more loans to these people and those people. You are about to lose, over 10 years, $306 billion, with a B, dollars. Failures in disguise. Yeah.

Transformers. They got ransomware. Once in a blue moon, I'll actually pick one of those up. You are about to lose a third of a trillion dollars paying for other people's college because the government couldn't determine the credit risk of these people

and had to succumb later to a political thing. Well, if you go in public service, we'll dismiss a lot of that. The government doesn't have the knowledge to do all this. The fatal conceit, Hayek's idea, the government thinks it's smart enough to manage this stuff. If it was, it'd be in the private sector. It wouldn't be in the government. thinks it's smart enough to manage his stuff. If it was, it'd be in the private sector.

It wouldn't be in the government. There are people who have skin in the game in banks who make these loans to students based on their ability to repay in the future. The government doesn't do any of that. They take into account political considerations and therefore we're losing a fortune. There you go. Yes, sir.

They can't get anything right. My gosh, free college. It's already free. It's not free. It's not free. It's already costing us 300 billion and it's not even free yet. Wait till it's free. Then you're really going to see the price go up.

All right, folks. Thanks again for tuning in. I really appreciate it. Again, I know today's show is a little complicated, but once in a while, we got to do deep dives into these topics so it makes sense when we get into the election issues and you'll have some kind of base so we can argue and debate with our liberal

friends it matters remember you're never arguing with the liberal they're unconvincible you're arguing with the liberal so that the third person listening who is somewhat impressionable understands we're on the right side of this all right thanks again for tuning in please subscribe to my youtube channel youtube.com slash bongino also subscribe to our audio podcast on Google Podcasts, Apple Podcasts, SoundCloud as well. The subscriptions help us move up the charts. We really appreciate it. Thanks a lot, folks. I'll see you all tomorrow. You just heard the Dan Bongino Show. You can also get Dan's podcasts on iTunes or SoundCloud and follow Dan on Twitter 24-7 at DBongino.