The President's Daily Brief - August 6th, 2024: Jerusalem on Alert, Market Chaos, & F-16s in Ukraine

Episode Date: August 6, 2024

In this episode of The President's Daily Brief: We'll begin in the Middle East, where tensions are escalating between Iran and Israel. Iranian officials are issuing new threats, prompting Israeli authorities in Jerusalem to brace for conflict. There are even discussions of a possible preemptive strike against Iran by the Israeli government. Later in the show, we'll examine the turmoil that shook the global financial system yesterday. Markets worldwide experienced significant sell-offs, leading to a chaotic day for investors and financial institutions alike. Plus, at long last, F-16 fighter jets have arrived in Ukraine to bolster the embattled nation’s air defenses. In today's Back of the Brief, we have a pretty shocking update on that story of two illegal immigrants from Jordan accused of attempting to breach the Marine Corps Base at Quantico. According to an exclusive by the New York Post, the pair were allowed to post bail and are now walking free. To listen to the show ad-free, become a premium member of The President’s Daily Brief by visiting PDBPremium.com. Please remember to subscribe if you enjoyed this episode of The President's Daily Brief. Email: [e-mail] Learn more about your ad choices. Visit megaphone.fm/adchoices

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that's shaking the global financial system. I know that we very rarely cover economic news here on the PDB, but the current global financial turbulence is definitely worth putting on your radar. markets worldwide experienced significant sell-offs, leading to a chaotic day for investors and financial institutions alike. Plus, after a long wait, F-16 fighter jets have now arrived in Ukraine to bolster the embattled nations' air defenses. And in today's back of the brief, we have an update, it's equal parts disturbing and frustrating, on that story of two illegal immigrants from Jordan, accused of attempting to breach the Marine Corps base at Quantico. According to an exclusive by the New York Post,

the pair were allowed to post bail and are now free to move about the cabin, the cabin being, of course, the U.S., anywhere. Apparently, being illegal immigrants from the Middle East, who attempted to make their way onto a military base that houses a number of sensitive military and government elements, well, that's not sufficient reason to keep them detained, or, at a minimum, removed from the country. seems like we could have asked Jordan to send a jet to come pick them up.

But first, today's PDB spotlight. We'll kick things off with the increasingly tense situation in the Middle East, although, to be fair, it has been very tense, so I guess it's all relative. As the world awaits Iran's expected retaliatory attacks on Israel over the death of Hamas leader Ishmael Hanyi last week inside Tehran. Leaders in Iran issued a fresh wave of threats over the weekend at Israel, saying they must be punished over the assassination, while demanding that the U.S. cut off all support.

Officials in the Islamic regime, unironically, blamed the West's backing of Jerusalem for the current regional instability, rather than, I don't know, perhaps blaming their proxy Hamas, which kicked off the current conflict with the brutal 7 October attacks on Israeli civilians. That's according to a report from Bloomberg. And yeah, the Iranian regime's sponsorship of terrorism and their funding and resourcing and supporting of Hamas, Hasbullah, the Houthis, Islamic Jihad, and others, all that has nothing to do with the regional instability.

Seriously, someone needs to tell Eradian Supreme Leader Khomeini to do a little soul-surging. Maybe go on a retreat. Look at the mirror. Maybe do a little introspection. Okay, given that that's never going to happen, it does now seem that the regime wants to have it both ways, stressing that while they plan to directly retaliate, they wish to avoid. regional escalation, which is, I think, the definition of having your cake and eating it too. A spokesman for Iran's foreign ministry said on Sunday, quote, Iran seeks to establish stability in the region, but this will only come with punishing the aggressor and creating deterrence against the adventurism of the Zionist regime, end quote, or maybe, maybe it would come

from Iran, renouncing terrorism and recognizing Israel's right to exist. I'm sorry, I drifted away from reality again. Now members of the G7 have reportedly been frantically reaching out to their counterparts in Iran to ensure that their retaliation does not go too far and trigger a wider war. In a rare move, Jordan's foreign minister traveled to Tehran personally to appeal to the Islamic regime. Russian Security Council Secretary Sergei Shorga was also in Iran on Monday, to meet with Iran's new president, though the nature of their discussions are unclear. Well, I'm sure Shorgia was there in an effort to push for peace.

I mean, it is Russia, and we know how much Putin's regime values peace and international order. Given the threats, Israel may soon take matters into their own hands, according to a report from the Times of Israel on Monday. At a meeting of Israel's security chiefs on Sunday, convened by Israeli Prime Minister Netanyahu, officials reportedly discussed the possibility of launching a preemptive strike on Iran to deter for aggression. Now, to be clear, that was just one of a number of scenarios discussed at the meeting, and officials stressed that they would need airtight evidence that Takeron was preparing to mount an imminent attack on Israel in order to move forward with a preemptive strike. As of now, it remains unclear just how the Islamic regime will respond, and if it will happen in the coming days

or weeks, the IDF has been placed on high alert in anticipation of the retaliation. As of Sunday, U.S. officials said they don't believe that leaders in Tehran have finalized their plans or finished coordinating with their various terror proxies in Lebanon, Syria, Iraq, and Yemen. Seriously, what countries in the Middle East aren't infested with Iran's terrorist proxies? Israeli officials said they're gathering their own intelligence regarding Iran's planned response, which they'll compare with the U.S.'s intelligence assessment. even if they match up, officials said leaders may still choose to avoid going the route of a preemptive strike. Leaders in Jerusalem are wary of being lured into provoking a wider conflict and have said they're confident that their air defenses and coalition of allies can withstand any attack from

Iran and their proxies. The U.S., meanwhile, is making preparations that involve military assets in the eastern Mediterranean and the Red Sea. The Pentagon is also sending additional combat aircraft to the region to the region to, help intercept Iranian missiles. Now, as you recall, following an Israeli strike on an Iranian facility in Syria back in April, Iran responded with a massive aerial attack on Israel, but 99% of the missiles and drones were intercepted with the aid of the U.S. Air Force, which coordinated with French, Jordanian, and British military elements. That strike, however, was telegraphed in advance

by the Iranian regime, which gave the U.S. ample time to coordinate. 8 defensive operations. There are concerns that this time Iran could employ more sophisticated drone and missile technology with more aggressive flight patterns than what they used in April. All right, coming up next. We'll examine the current economic turmoil as markets around the world cratered yesterday following a poor jobs report and other negative indicators in the U.S. on Friday. And later, Ukrainians are celebrating the long-awaited arrival of the F-16s. We'll have those stories when we come back.

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I want to turn our focus to the economic news, rattling financial markets the world over and what it may mean for global finances at a time of widespread conflict and upheaval. While financial news isn't our normal focus here on the PDB, an event of this magnitude, well, it does promise to have major repercussions. Japan's stock market plummeted by 12% on Monday, suffering the worst crash since Black Monday in 1987 and triggering a global market sell-off centered around fears of a looming U.S. recession. The trouble in Japan was preceded by a dip in the U.S. Nasdaq Index last Friday, which followed a poor July jobs report that saw unemployment rise to its highest levels since October of 2021,

according to a report by CNBC. The opening of Japan's NICA 225 index on Monday was the first chance that global traders had to react to Friday's jobs report, which showed a slowdown in hiring that was far worse than what economists predicted. It added to concerns that the U.S. economy is actually far weaker than markets and government data suggests, and that the federal research, has compounded the problem by pressing the brakes on the U.S. economy for too long with high interest rates. On Wall Street, Monday was a day marked by chaos. Following the crash in Japan, the U.S. stock market fell sharply when trading opened, with the Dow Jones Industrial average and S&P 500, suffering their worst day in nearly two years. Complicating the situation,

the trading frenzy caused services at online brokerages like Schwab and Fidelity to crash, leaving many retail investors temporarily unable to access the markets. Now, is it just me, or do you think that by now, given that you should always plan for the worst, that the IT systems used by brokerages and others in the financial industry would be hardened and able to withstand frenzy and chaos? The Dow dropped by more than 1,000 points, while the S&B lost 3%. Again, the last time we saw sell-offs of this scale was in September of 2022, at the height of the economic, crisis caused by COVID. While that crisis was a function of a pandemic, some economists say this

latest sell-off may be indicative of longer-term structural problems in our debt-based money system. While we don't have a crystal ball, a look at what some of the biggest players in finance are doing suggests low confidence in the economic outlook. Warren Buffett, the celebrated CEO of Berkshire Hathaway, has been fleeing investment positions and hoarding cash at a record rate. Well, to be who isn't these days, I myself just stuffed another crisp hundred in my mattress. Berkshire is currently sitting on more than $200 billion in cash reserves. Damn, that's a big mattress, and that's a first for the storied firm, leading some to believe that Buffett is positioning himself for a coming crash. Over the weekend, Berkshire announced that they had halved their stake in Apple,

their top holding, in a recent stock selling spree. Apple, along with others in the tech sector, shed nearly $1 trillion in combined market value during the initial sell-off on Monday. That's trillion with a T. Now, with something as fickle as financial markets, it's frankly anyone's guess what happens next. The Federal Reserve is scheduled to meet again on September 18th, where they could move, of course, to slash interest rates, though that is far from a certainty. Some wondered on Monday whether the damage was severe enough for the Fed to intervene with an emergency interest rate cut ahead of their scheduled meeting at September. But again, this is all speculation. Others set fears of a wider recession overblown, and that investors shouldn't panic. Okay, maintain a certain sense

of pragmatic concern, certainly. Panic? No, panic is frankly never a good idea. Shifting our focus to Ukraine, where Keeves' war effort against Russia received a significant boost with the arrival of F-16 fighter jets announced by President Zelensky on Sunday. This development provides a significant morale boost to Ukraine, but is unlikely to drastically alter frontline battlefield dynamics, at least in the short term. The introduction of F-16s marks a pivotal moment for Ukraine, though, which has been lobbying for American-made fighter jets since the early days of the now 29-month-long war with Russia. Keev initially faced resistance from the U.S. due to fears of escalating the tensions with Ukraine, Since Russia's invasion, Ukraine has relied on aging Soviet-era warplanes in their arsenal outmatched

by Russia's air power. During an Air Force's Day event at an undisclosed location, President Zelensky emphasized the importance of the F-16s for Ukraine's defense, standing in front of two jets with two others flying overhead. He declared, quote, these jets are in our sky and today you see them. It's good that they are here, and then we can put them to use, end quote. The U.S. permitted Western allies to send F-16s a approximately a year ago. Belgium, Denmark, the Netherlands, and Norway pledged to supply over 60 jets to Ukraine in the coming months. Ukrainian Western officials have indicated that the jets are unlikely to be used near the front lines due to their limited numbers and the presence of formidable Russian air defense systems. Instead, these F-16s will likely enhance Ukraine's air defenses

by targeting incoming missiles from drones and aircraft. Ukraine's newly acquired F-16s are fitted with advanced missile attack warning systems referred to as pylon integrated dispenser system plus, or Pids Plus, because, well, nobody loves an acronym, like the military loves an acronym. The Pids Plus system, along with the electronic combat integrated pylon system, there's another acronym in there somewhere, provides near-sherical coverage for detecting incoming missile threats. Zelenzky praised Ukrainian pilots for mastering their new aircraft and expressed confidence that the enhanced combat aviation capabilities would bring Ukraine closer to victory. A senior Ukrainian military official mentioned that some F-16s might be stationed at foreign bases to

safeguard them from potential Russian strikes. It's a strategy to mitigate risks emphasized by Russian President Putin's warnings against hosting these jets in NATO countries, vowing to shoot them down. Zeletsky urged neighboring countries to join a coalition to defend against Russian missile threats, acknowledging the difficulty of this decision for Ukraine's partners due to fears, of course, of Russian retaliation. Zelensky suggested the establishment of a NATO-Ukraine council to facilitate discussions on forming a small coalition for missile defense. Meanwhile, Russia continues to make incremental gains in Ukraine's eastern Deneczk region on the ground, gradually pushing Ukrainian forces back. Okay, coming up in the back of the brief,

Two Jordanian men, accused of attempting to breach the Marine Corps base at Quantico, are now walking free after posting bail. I know. It sounds so ridiculous that you're probably waiting for the punchline. But there is no punchline. The U.S. government set them free on bail. Just when you thought the stupid knob didn't go past 11. I'll be right back.

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who overstayed his student visa, attempted to breach the Quantico base in a box truck on 3 May. During their approach to the base, Hamden and DeBus reportedly lied to guards, claiming to work for an Amazon suburb contractor and attempted to drive onto the base for a delivery. According to Captain Michael Curtis, a spokesman for Quantico Marine Corps base, they were stopped by anti-vehicle barriers after ignoring guards' instructions. Now, Quantico is critical to national security as it houses the FBI Academy, FBI Laboratory, and several major U.S. Marine Corps commands, including the unit responsible for the Marine One presidential helicopter that flies the president around. Following their arrest, Hamden and De Boots were handed over to ICE officers and cited for only misdemeanor trespassing.

Misdemeanor trespassing. The duo was later released after posting bailed despite their immigration status. Hampton and De Boots were instructed to stay away from Qua... I'm not making this up. Hampton and the Boots were instructed to stay away from Quantico or other U.S. military installations by an immigration judge. Seriously, again, I'm going to repeat it. I'm not making any of this up. really is just as moronic and screwed up as it sounds. The two were told to appear in federal court

in Virginia in September. I'm sure they've marked that on their calendars. Federal officials stressed there's no evidence linking the two men to terrorist organizations or any nefarious activities. I mean, unless breaching the Marine Corps base in Quantico could be considered nefarious, I don't know. Well, given how thorough the government's vetting and due diligence capabilities are when it comes to illegal immigrants, their statements should comfort absolutely no one. Despite fears of a potential terrorist attack, ISIS stated there is no public safety or national security threat from Hamden and Deboos. It's still not clear how the two men know each other, and the motive behind the alleged attempt to enter the base remains unknown, at least to the general

public. Now, either this situation is just as stupid as it sounds, or the authorities actually have solid evidence and intelligence confirming that neither individual poses a threat of any kind, in which case they should be more specific in explaining this to the public. Otherwise, the conclusion is that the authorities handling the matter are either inept or, well, I think inept is our only option here. So perhaps the government could do us a favor and state clearly why and how they know that neither of the intruders onto the basic quantico pose any further threat. We'll be waiting. And that, my friends, is the President's Daily Brief for Tuesday, 6 August. If you have any questions or comments, please reach out to me at PDB at thefirsttv.com.

And don't forget, as if I'd let you, to listen to the show ad-free, become a premium member of the president's daily brief by visiting pdb premium.com. I'm Mike Baker. I'll be back later today with the PDB afternoon bulletin. Until then, stay informed. Stay safe. Stay cool. Hey, honey, it's mom. Did you know if we switched to Verizon we can get four phones for $0, plus four lines for $25 a line? Call me back. Me again. That's just $100 a month for four lines on unlimited welcome. Plus four phones, no trade in needed. Call me.

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