The Trish Regan Show - Mamdani CRASHES Out! Netanyahu Arrest Threat Blows Up — NYC TURNS on Radical Mayor!

Episode Date: July 22, 2026

Is Mamdani an Iranian plant? The question swirls as 6600 non-citizens were registered to vote in New Jersey…Plus, Bessent says the Clarity Act is at the 1 yard mark, but with the war in Iran heating up, retired Brigadier General John Teichert joins Trish to sound the alarm. Join us for a full edition of The Trish Regan Show! ✅ Support independent journalism — become a TRISH TEAM member: ▶️ https://www.youtube.com/channel/UCBlMo25WDUKJNQ7G8sAk4Zw/join ✅ Get my newsletter and start investing today! Https://76research.com ✅🔔 CHECK OUT MY NEW SPOTIFY SHOW AND PLEASE SUBSCRIBE FOR FULL DAILY EDITIONS: https://open.spotify.com/show/2blgbg4OaN5dqFhkBy12ii?si=HPdSujPDRrapZWtxbsgAjQ&nd=1&dlsi=979e048c08c04e13 Learn more about your ad choices. Visit megaphone.fm/adchoices

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I mean this guy, this, I have a lot of words I could use for him, but you know, I just am stunned that anybody who is in politics is that dumb when it comes to understanding the law. I mean, he was way out over his skis, and by he, I mean, comrade, ma'am, Donnie, or ma'am dummy, as some of us like to call him. I mean, wow. And so now he's just suffered this humiliating defeat. Apparently, Marco Rubio got to him, too, kind of like he may have gotten to Georgia Maloney at one point here in Italy, where I'm broadcasting to you live from, wow, wow, wow, wow, wow, wow, wow, wow, wow, wow. Okay, humiliating defeat. And now, I don't know how he gets elected again because you see he's divided New York in ways that well just simply aren't helpful to him right because you have voters who don't like what he

suggested in terms of the arrest in Netanyahu you have voters maybe who don't even feel that passionately one way or the other on Netanyahu and on Israel but they're like wait a second what is the mayor of New York City this city mayor trying to do in in terms of insurrection, serping the presidency? I mean, you actually think that you're a bigger deal than Trump and you can go out and arrest people, foreign leaders who actually have diplomatic community. There's that.

And then there's the lefty crazies, right? The lefty, lefties that were all for this. And guess what? This guy can't follow through. Oh, he's an empty suit. An empty, empty, empty suit. Here he is. eaten that humble pie?

Should be executed and also that I would follow the laws that we had and I would be respectful of those laws and that is why I ask my administration to review of all applicable law and I believe, however, in that same finding that the United States government does have the ability

to both joining the International Criminal Court and executing that warrant and that is something that I want to see happen. I say no because you know what, we don't recognize The International Criminal Court. You know why we don't recognize it?

Because it's a kangaroo court. So it's irrelevant. The president can't do anything anyway because guess what? We don't recognize the ICC as anything. So that was the latest and greatest, right? Because he's out today. He's like sucking up all the airways. He went out last night after having come out yesterday.

I mean, I showed you. We've been talking about Mem Dami all this week. Unfortunately. But Mam Dami has been in the news because he said he was going to arrest one of our allies. And then he doubled down on it. And then last night he figured out after much consultation, at the expense of New York City taxpayers, with his lawyers that, uh-oh, nope, oopsie-dazy, that's not going to work. And what did I tell you yesterday?

If he tries to do this, he's going to get arrested. Because he's in violation of the law. And so now he's out there making. the rounds trying to say, well, you know, maybe President Trump should do it. Well, no, President Trump's not going to do it because President Trump, one, is not going to arrest his ally. And two, we don't recognize the ICC, period. I really, you know, this is important, though, to think about, okay, let me, let me take a step, step back here just for a second, because we've talked a lot about the concerns about extremists infiltrating our political ranks.

and Amdami keeps coming up as one of those because why? Oh, this is the guy whose staff was trying to arrange a meeting with Iran. Okay, yeah, just let's go have a meeting with Iran. And think about this within the context of things. You think about what he said about Israel in the past, and I've got some stuff I want to show you. You think about who is he really? I mean, he just showed up and got citizenship like seven years ago.

So like yesterday, he's really a good. guy from Uganda, who doesn't like America. And now he is the mayor of America's biggest financial center, the biggest financial center in the world. So if you actually wanted to infiltrate us and you wanted to push this Muslim extremism onto us, if you wanted to try to take down Israel, how do you do it? You keep going in. Bipa. bit, whether it's Ilhan Omar, Rashida Talib, or Zohran Mam Dami in New York City, whose own wife was out on Twitter posting how happy she was, liking posts about the October 7th of atrocities. I mean, these are bad people.

And I kind of think there's a method to his madness. He's trying to push the country in a new direction, and this new direction should scare all of us, especially in light of what happened in New Jersey. 6,600 non-citizens just automatically being entered into the voting rolls and 400 of them voted. And CNN said this never would happen. We'll talk about that too. Because all of this stuff is linked. You have a deliberate effort to undermine the greatness of the United States of America going on.

and it's right there before our very eyes. So yeah, he's having to do a mayor culpah. It turns out, what do you know, he can't do this. I think this is also him from earlier today. As mayor, New York City would arrest Benjamin Netanyahu. This is a city that my administration has refued every avenue available under applicable law to determine whether New York City could execute the international criminal court's arrest warrant

if Benjamin Netanyahu came here. It is clear that we do not have the independent legal authority to enforce this warrant. As mayor, New York City would arrest Benjamin Netanyahu. This is a city that our values are in line with international law. It's time that our actions are also. Even though the U.S. is not a signature of the ICC. No, it's time that we actually step up and make clear what we are willing to do

to showcase the leadership that is sorely missing. Okay. A bad, bad, bad, bad dude. And so with that in mind, knowing that he was seemingly trying to execute power he didn't have, you got to ask the question why. You got to ask why people are coming to our country that do not like America and want to change it into, oh, I don't know, Uganda, we heard from the lady yesterday out in Colorado, right, who said the only way we're ever going to actually get any change and curb America's extremism is by having more and more

people come here from developing countries, third world nations, and rising up into politics. I'm sorry, I thought you come to America for a chance at a better life, because America offers something that Uganda and Somalia and Ethiopia do not. And now you are really there? You're telling us. You're telling us exactly what your intention is, lady. I mean, this one just blew me away. She told us that they need to change America and the only way you can change it is by having more and more of these people from these challenged nations come to America to change it.

So is it about helping America or is it about helping these various countries that apparently you still feel allegiance to? And this is where we're running into trouble, okay? Especially when you consider what Marco Rubio at the State Department is warning about, especially when you consider the intelligence that just came out last Thursday. You know, Mamdami is out there trying to break the law and then demanding that the president break the law because he's got a whole thing about Palestine. I'm sorry, guess what? Game over. Go back to Uganda because, hey, Israel is our ally. We helped create Israel. Okay? And Israel

is who we trust over there to keep the wheels on the bus. Bill Clinton tried to. do a whole peace deal with you people over in Palestine. And guess what? That went nowhere. He had it on the table and Arafat wouldn't sign it. So this is not going to change. And yet you've got Mam Dami, who if you ask me, is acting like some kind of foreign agent on behalf of everybody but the United States of America. So this is a real threat. It's a real threat. He's out there. Violation of the Logan Act, if you ask me, with his staff trying to meet with Iran during the middle of a war. During the middle of a war, mind you. I mean, this is what the president's talking about when they talk about foreign interference and the concerns, right, about China and the concerns about

Iran and bad foreign actors trying to goose up certain emotions and stories in the United States of America. And then you couple that together with a bunch of people who don't really have America's interest at heart, but have the interest of suppressing America, making everybody else better off. Because, hey, you know, we should just become a bunch of comedies. Well, you know what? Rubio's not going to have it. Donald Trump's not going to have it. I want to go to Marco Rubio speaking today on exactly what I've been highlighting all week long that we know certain people and certain countries are trying deliberately to hurt us.

They are trying to take us down a path towards communism and we're not going to allow it. watch. Well, again, what the president put out on Thursday that was a declassification of documents from our intelligence community. That's what he put out. He declassified intelligence assessments from our intelligence community. But your question was about communist influence. Yeah, the United States doesn't want to be a communist country. We're never going to be a communist country, and we're not going to allow communist influences to undermine our politics or our society. So I don't know what the inconsistency you're referring to is. It's very clear. I don't, you know, obviously we understand the Chinese system and other systems. But I can tell you, our system,

doesn't want communism. And we're certainly not going to allow communist efforts to undermine American society and drive wedges into our country, and that's what we're seeing. And by the way, one of the leading, you know, culprits of that for many years, the intellectual authors,

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So we know that Iran is trying to use its influence. We know that China is trying to use its influence, and we know it's very clear whose side Mamdami is on, and it's not the United States of America. No, no, no, no. He doesn't like America. And he definitely doesn't like Israel. Here he is two weeks before October.

seventh. The support for the Israeli government is something that is developed from the first moment that someone even thinks about politics in this country. We have to combat it at the same level. Not on our time. Not on our time. Not on our time. Okay, okay, buddy, we get it. So he doesn't like Israel. He doesn't like America. He definitely doesn't like Donald Trump. And so last night, you'd think it was some kind of presidential address. He got himself on a desk. The question is, was it turned around the right way this time?

Remember he got Washington's desk out and then had it backwards? With all those migrants surrounding him, and he had them glaring straight into the camera instead of looking at him. It was completely unnatural and totally produced. This one was produced, too. In fact, it was so produced, he even had this, like, fancy music underneath. I stripped the music out of it because we don't need to. to hear that, but you get the picture. This guy has an agenda. It's very obvious.

Benjamin Netanyahu is a war criminal, the architect of a horrific genocide against the Palestinian people. There is a reason the international criminal court issued a warrant for his arrest. As human beings, we have spent generations building a shared understanding that there are crimes so grave they offend all of humanity. As I've said, I agree with the ICC, the Benjamin Netanyahu should be arrested and tried for his crimes. Okay, the ICC is not something that we recognize. We don't recognize it. It is a kangaroo court.

So you can go on and on about you want Trump to do this, that, and the other. And he's not going to do it. Well, for so many reasons, but, you know, the basic one being like, he likes Israel. Okay? He does. All right? And a lot of people around him like it. And we actually rely on Israel for a certain amount of, shall we say, traffic control in the Middle East.

I mean, we can't rely on any of our European allies, that's for sure, right? Can't use our bases over there. We got to have somebody that we trust, which is why we actually hire them effectively to work for us and our interests in the Middle East. So no, that's not going to happen, Mamdami, unless you completely turn us upside down. You turn us into a communist nation. you get yourself elected president somehow. I mean, he's working on that too, so I hear he'd love to see if he can change the Constitution for that reason.

I mean, how fitting, right? America's 250th birthday, and we get a moron like that showing up, trying to really mess up what we have going on, which is a very good thing. Now, consider that Mamdami is doing what he's doing, and then consider the news that we got out in New Jersey last night. Mickey Cheryl, the governor, are coming forward. and saying, uh-huh, turns out 6,600 people were somehow mysteriously registered to vote. Can you believe this? After they told us over and over again, there's no evidence of this.

Donald Trump, you know, he's crazy to think we need the Save America Act. Why would we need that? We've got all these laws that prevent this from happening. And he's like, turn over the records, turn over the records. I want to review it. And now we find out this. Initial analysis shows that fewer than 400 newly registered individuals voted in an election due to this software error. They were registered as Democrats, Republicans, and the majority unaffiliated, and were scattered across the state. But let me be clear, this entire situation is unacceptable. It's unacceptable that the vendor released software was such a glaring error. it's unacceptable that the NBC took a year to get this issue fixed.

Yeah. And you know what else is unacceptable? That 6,600 people who are not citizens in this country were registered by the state. Apparently there was some kind of glitch, you know, the DMV, oh, that DMV, somebody was up to something. And so as a result of this, you got to start to say, hey, How do we get this under control? Can we really trust the states if they're not turning over some kind of check and balance to the federal government? If you have no backstop, you need to then rely on the likes of New Jersey and Georgia and all kinds of places to do the right thing.

But will they do the right thing? How do you know if they're doing the right thing? How did this happen in New Jersey? 400 of them voted. I mean, that's a big deal. It really is. It's a big deal. And I think it's especially important in light of the reality that the media never wanted to admit this was even possible. CNN, a poster child for this. Let's go to it. Here they are. There's this woman, Abby, on the evening show there. You know, she's got like 50 panelists on all against Scott Jennings. Scott Jennings is single-handedly holding up that network. It's the only show that ever does a number,

and it's because they get Scott on there, if you ask me. Anyway, Abby gets on there, and she's been saying forever, like, there's no evidence. There's no evidence of any of this. Why is he asking for the Save America, actually? Let me jog your memory. He's been in office for a full year now. They have not come up with any of this purported evidence of voter fraud.

You guys are in search of something that there's been no evidence exists. New Jersey is double-checking its voter rolls tonight. after a software error added 6,600 non-citizens to the voter rolls. The suggestion that this is fraud suggests that these people were trying to vote. Sometimes what happens is that when state systems are incorrect, people receive information and they are confused. Where some people who are ineligible to vote. So now she's trying to effectively excuse anything that happened.

So you've got Mamdami trying to create some kind of insurrection. you've got non-citizens, migrants, being registered to vote to the tune of 6,600 of them. I mean, that can actually, you know, make or break an election in New Jersey. I hate to tell you, 400 of them actually registered to vote. And they're like, oh, it's no big deal. It's no big deal because they didn't actually vote or maybe they didn't know what they were doing. No, it's a big deal. Okay, it's a very, very big deal.

And it undermines the very integrity of our entire process, which is why the president It's been saying over and over and over again, you guys got to fix it. You guys got to fix it because we get bad stuff and bad actors and bad people out there trying to do bad things. Well, Abby doesn't believe any of it. Watch. This is obviously not a great situation. She acknowledged that. But it also doesn't demonstrate that there's widespread voter fraud in New Jersey or anywhere.

In New Jersey? 6,600 non-citizens made it onto the voter rolls. That's, to me, it's pretty widespread voter fraud. That's widespread? Yeah. I think it'd be pretty bad if one person who's not a legal citizen in the United States. The number of registered voters in the state. Well, New Jersey spends $60 billion over that overall on its budget.

So I think if we're seeing... Yeah, but I mean, you're just, you just said it's widespread. So where's the proof that it's widespread? 6,600 nonsense. Exactly. Okay. Okay. That is 0.006% of registered voters in the state. Mikey Cheryl, she won her vote.

I don't think it invalidates her election. By half a million votes, there were 3.3 million ballots cast in that election. 400 ineligible voters, let's say, because we don't even know, let's say they all voted for her, which maybe they did. That still wouldn't invalidate the election. That would be about one, one hundredth of a percent of all the votes cast. Widespread? Yeah, 6600 non-citizens made it onto the voter rolls. That's pretty bad.

Hold on. Widespread. Yeah. Yes. 6,600 people who were inadvertently registered to vote, the vast majority of them never cast a ballot, and you're calling 400 maybe ballots cast by people who were registered as Republicans, as Democrats, as independents, as widespread in a state where there are 6.8 million registered votes?

Yeah, I'm with the governor of New Jersey on this. I think it's a pretty big problem. That math doesn't math, Jesse. Well, I didn't say it invalidated Mikey Sherrill's election results. I didn't say you said that. I also dispute the idea that there's any proof that this is widespread. I think there are thousands of non-citizens on the voter rolls in New Jersey, and I'm pretty concerned about that. I would call it a widespread problem.

I think the bigger problem here is that... What's your definition of widespread, by the way? Is it 1%? Is it 1%? Is it 2%? I don't know, more than 100? I think it's a big problem. What's your tolerance for this? My... Hold on.

She has quite a bit of tolerance for it. Now, doesn't she? Quite a bit of tolerance. Apparently, she's willing to have thousands of... of people on the voter rolls there in New Jersey. I mean, I wonder if they were all MAGA voters, would she be quite as keen? I mean, honestly, there's no way you can excuse that. I don't care what the percentages are. He's right. I mean, if you have so much as one person that's there illegally that shouldn't be there on the voter rolls, then you got a real problem, okay? And this is, in fact,

what the President keeps getting at and why we need the Save America Act. Honestly, I mean, The greatest thing the other day, did you see the Olive Garden story? Olive Garden put out a tweet reminding everybody if you want to come to the Olive Garden. By the way, the Olive Garden is great. I love it. Like seriously. I really do. I love their pasta.

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You have to show government ID. That's for the all-you-can-eat pasta bar because they don't want it transferable. So you got a business, a restaurant that's demanding ID. from anybody who comes in to get the all-you-can-eat-a-pasta. And our own government won't allow it,

and then we learn what's going on in New Jersey. And by the way, the administration is estimating that there are tens of thousands, tens of thousands of people that are illegally on these roles. I think they've got the number somewhere around 33,000 or something. I mean, they're very, very concerned. And this is not going to satisfy, I think, anyone. because it sort of confirms, if you would, our very worst suspicions, our very worst suspicions.

So the president's been outspoken about it. Everybody's been outspoken about it. Again, I think the call is on for that Save America act. But you get bad actors. Bad actors that seem to want Mamdami as our future. Communism as our future? Socialism with a little communism in there? I don't know. Take your pick.

None of it's going to work. None of it. at all is going to work. And so today, we've learned that we are doubling down on Iran. News out today. Let me see if I can bring you this, just coming to us from the Wall Street Journal. First reporting on this, Trump says he's going to use his capability to bomb Iran's power plants, bridges if Tehran strikes ships.

The president's threat, they say, is the latest indication. He's planning to escalate things, escalate things in Iran because, you know what? They don't seem to be able to understand which way the wind blows. And it's not in their direction right now. So we're just going to keep this going, right? Striking, striking, striking, striking, striking. What we do need to make sure of is that they don't have any financial assets at all. We got to put that embargo in, as we did.

We got to keep that embargo on. And they're going to make sure that there's no oil being sold to China any which way. We're going to make sure that we cut off all economic activity. We're costing them somewhere in the vicinity. I think it's like $400 million a day in lost revenue from that oil. And there's more we can do. Because if you choke them economically, you will eventually start to see everything crumble down. You know, it's not going fast enough, I think, for any of us, frankly.

You know, and there's another component to this. You know, I'm a financial reporter by background. You know I like crypto. Well, Scott Besson is saying that the Clarity Act is just about at the finish line. So speaking to a Bloomberg reporter, and you saw crypto, of course, rallying the last couple of days. I think the expectation is, you know what, things are going to be better. We're going to have some regulation, et cetera. And I think this will be a big boost, frankly, to crypto and certainly to Bitcoin prices, et cetera.

So we're at the one-yard line. Scott Besson, Treasury Secretary of the United States, is saying when it comes to getting that regulation passed, for Bitcoin, which would be very bullish for it. But what is the security cost? Now, as somebody who really likes Bitcoin and thus wants to see some regulation that's sensible around it, and therefore I'm very interested in what they can do

vis-a-vis the Clarity Act, I think it's very interesting that Brigadier General John Tykirt wrote a big piece today in the Washington Times saying that Congress should kill the Clarity Act. So what is that about? I sat down with the General

just a short moment ago, and he outlined all of it. I want you to hear. General, it is good to have you here. Welcome. Trish, it's wonderful to be on with you. Thanks for having me. Really interesting piece in the Washington Times. You have a lot of grave concerns.

I'm a big crypto fan, so I'll put that out there. But I'm also a total national security hawk. And your concern right now is we're moving forward with the Clarity Act. The Treasury Secretary says it's basically, you know, at the final inning here, we're about to get this whole thing done. And you're saying, wait a second, pause, because it's not perfect here. And we have real concerns about what it's going to mean for the future of bad actors, people that we don't want to be able to transact or basically, I guess, engage in some kind of terrorist financing.

They're going to have an opportunity to do that. Yeah, my concern here, Trish, is that I love the idea of comprehensive crypto legislation. but it hasn't been stress tested against the two major national security concerns or examples of the last six months. We should take a step back and look at it as how well would it do against the Maduro government in Venezuela and their malign and illegal activity? And how well would it do against the IRGC and the Iranian regime and their illicit and malign activity? And it hasn't been stress tested against those two cases. And while I'm in favor of crypto legislation that allows us to be on the cutting edge and innovate, if we're creating large loopholes for our adversaries to finance their activities,

then we haven't taken the time to create the right type of legislation. What would that be? I mean, because I hear you, and I completely understand, empathize, agree with that, right? The last thing we need is a Maduro-type regime basically being able to find these workarounds. But we also know, look, they've done it historically. And gold, for example, was one way to do it. But gold is kind of heavy. And so now they've got crypto.

And we've got to find a way while simultaneously not cutting off the innovation, right? Because we want the innovation. We want to stay the financial capital of the world. So in order to do that, you can't, like, throw it all away. But you do need a system that's going to prevent the Iranians from, you know, transacting in crypto in order to get their oil over to China. Trish, that's exactly right. And I do not want to stop us from being on the leading edge. I just want to make sure we're looking at it through the right lens of national security.

In addition to all of the other lenses, we need to consider this with respect to. And I think that we need to make sure, as we take this step back, that we have a way within the legislation to deter an adversary from using illicit crypto, or to prevent them from using it, or to be able to track it sufficiently so we understand. understand how to investigate and how to hold those bad actors accountable. Last year, there was over $150 billion of illicit crypto activity that was triple the year before. It was eight times the amount to sanctioned entities. And I want to move forward in an innovative way, but I want to make sure we don't do so by giving a playbook to our adversaries and how to evade our financial instruments of power. No, I mean, we certainly don't. And we want to maintain financial dominance, if you would. I mean, people get upset about that. I'm like,

look, King Dollar is here for a reason. King Dollar makes a whole lot of other things possible. And a lot of people are very concerned. We're going to lose that, right? Because if you turn everything over to crypto, then nothing's being transacted in dollars anymore. It enables this whole new world. I think stable coins will come into play here. And I think actually with stable coins, there's a chance for the dollar to really actually reign supreme in ways that we can't even anticipate right now. I'm excited about that. Again, the innovation here is incredible, but I hear what you're saying. It's like it's going full speed ahead. So how do you slow this down? What do you hear? I mean, have you talked to people on Capitol Hill? What are they saying? What are

they telling you? Because again, if I look at what Besson's telling us and I look at sort of what the market's telling us, it looks like the Clarity Act's about to go through. Trish, I think it's important to realize that everyone I think agrees on the Hill and in the administration that we need something now and we need something good. You know, this legislation passed in a bipartisan way a year ago in the House. It made its way through the Senate Banking Committee, and now it's on the verge probably before the August recess of passing. But I think that the national security provisions that were added to it in the Senate Banking Committee are lacking such that we need to take a knee. And while we would love to meet a timeline here, that we've got to make sure that Iran as the perfect

example is not going to be able to use a playbook of legislation to understand where the loopholes are and then to circumnavigate them. And the challenge is when you codify something like we're about ready to do, then it shows the adversaries exactly what the rules are and where they are lacking. And now that we're seeing Iran every single day bribe companies to flow through the straight of Hermuz and they use crypto to avoid our sanctions, we have to be especially cognizant of the fact that now is not the time to rush. Now is the time to make sure we button up those loopholes so that we can deter and prevent and track and enforce. Tell me what you think is happening right now because I look at this general and I just got to say, I know the president said we've taken

out their military, you know, we've taken out the Navy, we've done this, we've done that. And I'm like, okay, so then why are they still sending these drones over at us? How do they even, how do they even function given that we've put in this embargo and it should actually choke off their economy. They're still seemingly, you know, operating. They're still, they're still firing at us. They're still transacting somehow. And I think you're going to tell me it's because of crypto. Well, I think it's in part because of crypto that I'm pretty confident that every ship that has sailed for the Strait of Hermuz since the 28th of February has done so safely because they paid a bribe to the IRGC. And now that IRGC entity is reaping the benefits of financing that comes via crypto.

And to some extent, until we had the blockade in place, they were benefiting from $6 billion a month in normal economic activity. And I think during the war, we were late to enact the blockade that we have not buttoned up the digital cryptocurrency loopholes. And now until we start to strike at the heart of the regime, carg island is the place that I would start, then the regime is going to continue to believe that we're not serious in trying to stop them and they're going to wait us out like they've done for 47 years. So this doesn't end soon in your estimation

unless we get really tough? I think we need to get really tough. The president has been on the verge of promising, a couple of times now, maybe a third in the last week, that we're going to start to strike targets at the heart of the regime. power plants, energy sites, bridges. And I'm not talking about wholesale bombing. I'm talking about mapping what are the sources of strength of a regime, what do they value most, and then starting to

strike those targets. And I really hope that the president follows through this time with that promise, unlike the previous two times where we found an off-ramp into a ceasefire, because the regime in Iran only respects and understands strength capability will and resolve. And until we demonstrate that by striking at the regime, then this is going to keep going on. Gosh, I mean, you sound, I've heard a lot of generals say some similar stuff lately. In other words, we really have to be willing to go the extra mile here and make those strikes on those key assets. And, you know, if we look at the financial impact of this as well, I mean, to me,

my background is as a financial reporter, as you may know. So to me, I love the idea of being able to use financial tools, right, as opposed to actually having to use bombs. And so I come in it from a slightly different perspective, which is why I'm very interested sort of in what you're saying here, because if there's loopholes, it actually creates then an opportunity for them to continue doing what they're doing. And we've got to be able to, we've got to be able to choke them off. I mean, financially, strategically, militarily, isolated, fully isolated. I love that idea of isolating them. And I also love the idea of idea of follow the money. And that's why I talk about Karg Island, which is 90% of their export

revenue, comes through that one small island in the northern part of the Persian or Arabian Gulf. And then once you get the loopholes closed around digital currency sufficiently, then now they have nowhere else to go. We've choked off their physical export capability of oil. And now they can't fund their regime in these illicit ways in any other manner. And I think transnational criminal organizations and rogue regimes and narco-terrorists love the idea of clarity that is not sufficiently designed to close loopholes. And if we take a little bit of time now thinking about Iran and thinking about Venezuela and thinking about other illicit activities and malign actors, then we can get this right. And by getting it right, it actually ensures that we're better able to innovate into the future and maintain our financial instrument of power and dominance. So stress tests.

That's exactly right. Again, Maduro and Venezuela from six months ago and now the IRGC. And if we do that rigorous stress test, then now we have game planned. How can we design clarity such that we don't allow those type of actors and others like them to play us because of our loopholes that they can now sail a ship through? Do you think the Maduro was actually using crypto aggressively to launder? I think there's a combination of both Maduro himself and then some of the other malign actors like narco terrorists and like Hezbollah that were resident in Venezuela that absolutely were using crypto. $150 billion a year, like I said earlier, was flowing to illicit actors and to malign sites via crypto. And no doubt in our hemisphere, the closest biggest example of that was Maduro and Venezuela.

but it doesn't just stop with them. Any transnational criminal organization, any narco-terrorist, any human trafficker would love to see a clarity act with loopholes because it gives them the game plan and how to continue their malign activities. But how does that work? So if you have all these offshore entities, right?

I mean, like, we have American entities as well. And they, for example, have certain know-your-customer rules. K-Y-C, it's called, in banking. So, you know, every bank has a responsibility. to make sure that somebody is who they say there are. And if they're getting some big giant transaction, especially if it's from overseas, then the red flags are going to go off.

We remember Hunter Biden got a whole bunch of notices, right, from his bank. And those are things that banks are very, very serious about. And the Treasury Department's serious about it. And so there's this level of oversight as well as the Fed, of course. And you know, to a certain extent, hopefully, what's going on there. But the onus gets placed initially on the bank itself. There's a similar kind of rule set for crypto and for American crypto exchanges. The challenge would be you have these crypto entities that are running offshore.

And they're not going to follow the same kind of rules that an American company would. Trish, it's really not that much different than those overseas banks that try to exploit. loopholes in our regulations, that if we have the right properly designed crypto entities that have a tag or a track as a part of their digital signature, and we mandate that, and we have been innovative enough such that we are creating those entities and mandating the shape of those entities, then now we're able to have enough information not to centralize control, but to be able to deter and prevent and track and investigate and then hold the right people accountable. General, how much time do we need for these stress tests?

I mean, just knowing that we want to make sure that we own this industry. I'm going to be very transparent here. You know, I'm a realist. And if we don't, you know, China does or somebody else does. And we don't want that, right? Because, again, we want to make sure that we are at the forefront of all of this technological change and all of these advances. So when you look at how long it's going to take, is this like we need another few months? We need six months. What do we need? Tricia, I don't think that this is something

that's going to have to linger on. In fact, the Senate Banking Committee added about 24 national security provisions to the current version of the Clarity Act. Now, they all tended to be superficial, and they were studies and there were a few other things that didn't really close loopholes. But let the Senate go on recess. and task the staffers to diligently in the next month and a half, look through the Clarity Act via the lens of national security. And when they get back in September, then now come up with those additions to clarity that meet our needs as Americans,

that also button up some of those little people. We'll see what happens. It's good to see you, General. Trish, this has been awesome. Thanks for having me. You bet. Good, good to see them. A lot of really important and interesting points there. you know, I'm going to say it again, because you guys know where I stand on this.

I am a very big crypto fan. I believe in this technology. But it's tricky, right? Like, it's the same thing with like AI. I mean, there's great stuff about it and then there's really scary stuff about it. But I think, bottom line, you got to embrace the future, right? But you've got to do so in an intelligent way. So, you know, if there's a security issue, we want to make sure that we do button those things up.

we also want to make sure that we don't turn over all of that opportunity to some other country to China, for example, so that they succeed in it. You know, I've written a lot about this with my colleague over at 76 research. Again, we are super positive on crypto and think it's a big part of the future. In fact, a lot of big banks just came out like last week, or maybe a couple days ago, and they said that they were going to begin the process of tokenization for stocks and treasuries. I mean, wow, right?

So this is the technology that I do think is going to be taking over markets in the future. So sure, we want to make sure that we're getting it right. Quick shout out to my company, 76research.com. We have three portfolios. You know the drill, 10 to 15 stocks in each one. Go check that out when you can. Another big story that I just briefly want to touch on here as we talk about Iran, as we talk about the Middle East, as we talk about the challenges there, a big thing coming out of the Wall Street Journal. Did you guys see this one? Donald Trump reportedly approving a nuclear deal with Saudi Arabia, a big win there. For Saudi Arabia, it will. It will, would actually mean we would see a nuclear power plant, the very first one there in the Middle East,

and we would be allowing for Saudi Arabia to have the ability to enrich uranium for energy purposes, provided, of course, that they met certain clearances and they had certain securities. So this is kind of huge. And you've got to think about it within the context of what's going on with Iran, right? Because we've been really, really clear with Iran. And Iran, yeah, is getting sort of shut out of the Middle East, they're not acting like a big boy at the international stage. They just want to be the thug that's going to control the entire region,

and we're not okay with that. Israel's not okay with that. Saudi Arabia is not okay with that. Jordan's not okay with that. And the list goes on. So you wonder, or at least I wonder, if to some extent the choice to allow for Saudi Arabia to have access to uranium, the enrichment of uranium,

is being used as a way of deterring Iran possibly, right? Like that maybe the administration's looking at this and they're saying, hey, we would rather be on board with our allies, helping them to be a deterrent to the bad guy in the region. And so I suspect this is in part what this is about. I also talked to the general a little bit off camera and we talked about this as well. And he pointed out, look, it's just the power plan. right now. It's not like we're giving them uranium to have a nuclear bomb. I mean, because that's

immediately where I go, right? I'm like, wow, they're going to have a nuclear weapon. He's like, hang on. It's going to be nuclear power that they're going to be able to access. But you've got to wander, is this deliberate in that we're trying to manage for the future or future in which, I don't know, does Iran get that capability? Because you can't allow for Iran to have that capability without some kind of deterrent over there. So very, very interesting development. And kudos to the Wall Street Journal who had the exclusive on that. And now everybody's reporting it really interesting. So basically, U.S. companies would be building that uranium enrichment facility there in Saudi Arabia in a joint U.S. Saudi Arabia.

So again, we're kind of trying to bring our allies and our friends into the circle and possibly have them serve as a deterrent, right, as a fear factor, if you would, with Iran. You know, Energy Secretary Chris Wright is apparently working on this, and the accord could be signed as early as Wednesday by the Energy Secretary, which is interesting to me. It's not the Secretary of State. It is not the President of the United States. It's the Energy Secretary. And we will see his Saudi counterpart, so it's not MBS, but Prince bin Salom is going to be signing the deal as well. according to Robert Einhern, who's quoted in the Wall Street Journal article, the agreement could help revitalize the U.S. nuclear industry, strengthen U.S.-S.-S.-S.-Saudi ties, and deny Russia and China a strategically important role in the Saudi nuclear program. So a lot of this is about getting ahead of the game.

But, you know, it's Saudi Arabia, right? And what did we say last week? What did I tell you? You know, I get a little nervous with the religious crazies, and, you know, there's a few of them over there in all those countries. Let's just be fair. And so sometimes things are done not for reasons that should be, right? Because there's a religious motivation. And so that's what I think concerns me.

I imagine that's what concerns you. And I've got to assume that they must be doing this to be, again, some kind of deterrent for Iran. Or they may be worried that Iran has more capability than, you know, we think. or have been led to believe. Westinghouse Electric and its AP-1000 reactor would be among the biggest beneficiaries of this deal. It produces about 1,100 megawatts of electricity, which is enough to power a mid-sized city or a major artificial intelligence data setter, again, according to the Wall Street Journal. We'll see. Congress might need to approve this deal. I don't know. The Democrats are already saying that. So I don't know. Suddenly they're going to be in, well,

they have no choice, right? They're always going to be in the position where they take whatever Trump is doing and argue the opposite. But this is one that I'd be curious to kind of feel out a little bit more and understand a little bit better because you're talking about putting a nuclear power plant in the Middle East. What could possibly go wrong? Oh, can't even imagine that one. All right.

It's good to have you guys here. Make sure you subscribe. If you haven't, like, share all that important stuff to keep this. show going. Thank you for all that you guys do. Don't forget to check out my 76 research.com and I'll see you back here live tomorrow. Hey y'all. It's Kelly Clarkson with Wayfair. Ever order furniture online and wonder what if? Like what if it doesn't hold up? That sofa was four days old. You should have ordered from Wayfair. With Wayfair, there's no what if. Just style you love and quality you can trust. Visit Wayfair.ca.cair every style, every home.