TRUNEWS with Rick Wiles - FTX Scandal Could Bring Down Derivatives’ House of Cards

Episode Date: November 21, 2022

The FTX scandal is a massive financial train wreck that will bring down many other companies that had nothing to do with Bankman-Fried's corruption. There will be numerous bankruptcies in the crypto industry, and the carnage has only started.Rick will cover the rapid collapse of FTX, its impact on the economy, and how Terry Duffy, the CEO of CME Group, attempted to warn Congress of a biblical disaster that was going to unfold with FTX's Samuel Bankman-Fried.Later in today's program, Rick will share a formula that has been around for thousands of years. It has withstood the test of time and will withstand this current economic downturn as long as you put it into practice.Rick Wiles. Airdate 11/21/22A hilarious gift idea for Christmas 2022! Order your Fauci Elf! https://tru.news/faucielfIt’s the Final Day! The day when Jesus Christ bursts into our dimension of time, space, and matter. You can order the second edition of Rick’s book, Final Day. https://www.rickwiles.com/final-dayYou can partner with us by visiting TruNews.com/donate or by calling 1-800-576-2116 or by mail at PO Box 690069 Vero Beach, FL 32969.

This is True News, the truth, the whole truth, and nothing but the truth, so help us God. I'm glad to be back in Florida after a very successful visit to Jordan. 48 awesome friends of True News joined Doc Burkhart, our production team, and me for the tour of the Holy Land on the Jordan side of the Jordan River. I apologize that we were unable to stream True News from Jordan during the visit. Unfortunately, sickness struck our team. Doc Burkhart, Lee, our production manager, and Eddie, our audio director, became ill. And all three are still recovering, so please pray for them.

Hopefully, they will be back tomorrow in good health. Consequently, I am hosting True News alone today and assisted by a very lean staff in the studio. And I will devote my time today discussing the FTX scandal and its threat to impose serious harm to the U.S. economic system later. I will teach a Bible lesson about the Sermon on the Mount. Let's start with FTX. FTX was a cryptocurrency exchange founded and led by Samuel Bankman Freed, aka SBF. Along with Tara McAuley, Bankman Freed was also the co-founder of Alameda Research. Alameda is a quantitative trading firm specializing in cryptocurrencies. The company specialized in arbitrage, market making, yield farming, and trading volatility.

Bankman Freed's world started unraveling two weeks ago. An anonymous source cited by the Wall Street Journal said that Alameda's research company owed $10 billion to FTX. The source said FTX had lent Alameda $10 billion that came from its client's funds held by FTX as an exchange. Alameda's CEO was Caroline Ellison, who allegedly was Bankman Freed's girlfriend. The public disclosure that FTX had lent half of its customers' money to its sister company, Alameda Research, led by Bankman Freed's lover, sent FTX into a solvency crisis. Shortly thereafter, FTX filed for Chapter 11 bankruptcy in a U.S. federal court. The 30-year-old billionaire was extolled by the gullible U.S. news media and brain-dead politicians

as a financial genius. It turned out that he's a complete fraud. He's a far bigger crook than con man Bernie Madoff. At his peak, Bankman Freed's net worth was estimated to be $26 billion. Now listen to this. By November 8, 2022, that's just two weeks ago, his net worth dropped to 991.5 million, according to Bloomberg Billionaires Index. But it gets worse. Three days later, Bloomberg reported that Bankman Freed had material wealth. The fake billionaire was flat broke. If you did not have any money in an FTX account, you have not been hurt by this scandal. Not yet. Hold on. There's a lot more to the story. The FTX scandal involves high level Democrats and Ukrainian President Zelensky. FTX's Jewish CEO was a major donor to Democratic Party candidates. He was the second largest individual donor to Joe Biden

in 2020. He donated $40 million, mostly to leftist Democrats during the 2022 midterm elections. And he laundered over $60 million to Ukraine's corrupt government, supposedly to buy weapons to fight the Russians. Even more alarming, Washington politicians and regulators were eagerly working to adopt Bankman-Fried's crazy, bizarre, and dangerous trading models throughout the U.S. economy. More importantly, the FTX scandal could be the explosion that ultimately brings down the derivatives house of cards, a ticking time bomb estimated to be between $1 and $2 quadrillion. The FTX scandal is a massive financial train wreck that will bring down many other companies that had nothing to do with Bankman Freed's corruption.

Unfortunately, there will be numerous bankruptcies that had nothing to do with Bankman Freed's corruption. Unfortunately, there will be numerous bankruptcies in the crypto industry in the months to come. The carnage has only started. There will be blood in the streets for many months. So let's drill down deeper into this story and we'll take a look at some of the stories. The first one is from Financial Times. And so the headline FTX businesses owe more than $3 billion to its largest creditors.

So from this headline, we start to see that there's a lot of big companies that have been hurt by the FTX scandal. Let's read a few paragraphs. The filings show, let me back up here. Sam Bankman Freed's businesses owe more than $3 billion to their largest creditors, according to court filings, as the cryptocurrency group's huge bankruptcy process gets underway. The crypto exchange FTX and linked companies founded by Bankman Freed filed a list of their 50 largest creditors on Sunday, all of which are customers and owed more than $20 million, with two of them due more than $200 million.

The company's total liabilities are estimated at more than 10 billion dollars according to earlier filings and they may have more than 1 million creditors. Now goes on this is again Financial Times. The filing showed 10 clients are owed more than 100 million. The top 50 creditors whose names are redacted in the filing are all owed more than $20 million. FTX said in an earlier filing that disclosing the names of its large account holders would be competitively damaging. Ah, it would be very embarrassing. That's the reason that the names are not being disclosed. The Financial Times said FTX's clients included large financial groups that traded cryptocurrencies such as hedge funds.

Unlike traditional exchanges, cryptocurrency trading venues also typically take custody of client funds. Customers who were unable to withdraw their funds before the firm halted payouts, now face a long wait to recover their assets. Financial Times said in other recent cryptocurrency bankruptcy cases involving Voyager Digital and Celsius Networks, legal question has been determining whether account holders are unsecured creditors or have a higher priority status in determining who gets recovery payments first. Another question likely to arise is whether account holders who withdrew their money just before the bankruptcy filing are subject to clawbacks. Now, clawbacks mean, it simply means that lawyers will go after that money. Anyone that withdrew their money just before the bankruptcy, you may find that high-powered lawyers are coming after you to get that money back so that it can be used in the bankruptcy settlement to other creditors. They're hiding the names of the corporations that have lost billions of dollars.

They don't want this information published. It will eventually be published and it will be very embarrassing to some major Wall Street corporations. So that's just a tip of the iceberg. The next story is from CNBC. Never seen such a complete failure of corporate control, says new FTX CEO, who also oversaw Enron bankruptcy. So this is a gentleman that has been appointed by the bankruptcy court to liquidate FTX. And he said, I've never seen anything this bad in my life. Now, this is coming from somebody, this is coming from the man who, who shut down Enron.

And if you, if you remember Enron, that was a major corporate scandal. And this man is saying FTX is worse than Enron. Let's look at some of the comments that he said. Newly appointed FTX CEO John Ray III minced no words in a filing with the U.S. Bankruptcy Court for the District of Delaware, declaring that, quote, in his 40 years of legal and restructuring experience, he had never seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. End of quote. Ray formerly served as CEO of Enron after the implosion of the energy titan. He promised to work with regulators to investigate FTX founder Sam Bankman Freed. You just wonder how did Bankman Freed get away with this criminal activity for so long? And nobody noticed.

Nobody smelled something wrong at FTX. Well, actually, we find out that there were some people who knew that Bankman Freed was a fraud, but they got pushed aside. The politicians, the news media, the Democratic Party, of course, Mr. Zelensky and Ukraine, they all loved Bankman Freed and they loved his money. And they sucked up all of the money that they could get from him. Now, we're going to talk about callbacks. How are they going to pay back the money? We'll talk about that in just a minute. So I want to go back to this article from CNBC. Ray exercerated Bankman Freed and his management team

for what were described as lackadaisical controls on systems and regulatory compliance, quote, the concentration of control in the hands of a very small group of inexperienced, unsophisticated, and potentially compromised individuals, end of quote, was unprecedented, the former Enron recovery boss said Ray said a substantial portion of assets held by FTX may be missing or stolen following widespread reports on social media of the theft of hundreds of millions of dollars in cryptocurrency. Why isn't Bankman freed in prison? He's a crook. He's a bank robber. Yeah, Bankman Freed. Bankman Freed is a bank robber and he's robbed thousands of people of their money. And there were no controls on him, no oversight, no audits. And he was just, he was allowed to run free and the politicians lined up like little kids and at a candy store to get money from him. All of it stolen money. That's the point I want you

to understand. The money that the politicians got was stolen money. So they need to return the stolen money so it can go to the bankruptcy court to give back to the people who Bankman Freed robbed through his crooked business dealings. So this next story is, oh, this is a tweet. I want you to see this. This is a tweet regarding a meeting in March of Terry Duffy, who is the CEO of CME Group, which is a derivatives financial corporation. And he had a meeting in March. This is important, March, March of this year. He had a meeting with Bankman Freed and Bankman Freed was trying to do a business deal with him. But Terry Duffy was far too smart of a businessman to get in a business deal with a slime ball like Bankman Freed. This is an audio of a podcast interview he did on CNBC. I want you to listen. It's just the audio.

Listen to what Terry Duffy said about that meeting. I had a meeting with Sam Bankman-Fried for the first time in March this past year. I never met the man. He asked to meet with me at a conference. And I sat down with him. I said, what is your end goal? He says, well, I want to compete with you. I said, great. I'm all for competition. What do you want to do? He says, well, I want to compete with you in crypto. And I said, why would you do that? I said, I'll tell, I'll give you one better. How about if I give you my crypto franchises worth $30 million and we'll go from there? He says, well, what do you want? I said, you know what I want. Let me be your risk manager. I'll clear it to make sure it's done properly. He says, well, you won't deploy my model. I said, your model is crap. Why would I deploy a model that's going to introduce risk to the system?

Of course, I'm not going to deploy your model. He turned me down, flat out turned me down. And that's right away I said to him, I said, you know what? You're a fraud. You're an absolute fraud. You supposedly were $26 billion and you're an altruist. I said, if you're an altruist at $26 billion, how come there's not a $10 billion donation going to somebody right this moment in time? How about a $15 billion donation?

I said, you know what? I said, my net worth doesn't start with any Bs. I'll give you three to one that I have more money than you. I said, I'll tell you what. I'll give you four to one. I got more money in my right pocket than your net worth. I said, you're a fraud, and I'm going to make sure that we get this out there. And that was it. So we went to Congress. I testified and I have been to Congress 25 years. I've never seen a Washington, D.C. like I saw that time from the regulators to the members of Congress singing hymns that I never heard before. And I got berated in a congressional hearing, but I would not back off.

I said that you could lose 85 to 90% of your value overnight. And I said, he will not commit to keeping this just a crypto. I said, the reason is because he wants to deploy it across all asset classes. I said, that is a biblical disaster if you people allow this to happen. Well, I didn't know how right I was going to be in a short period of time because he lost 85% of his FTT tokens in literally one day. So the point being is we went through this whole thing and then I worked back with the agency and I said they wanted to approve it for just crypto. I said, well, that would be lovely, except that would be an arbitrary decision to approve a regulatory change for one asset class. And they argued with me, said, no, it's not. We have the ability to do it. I said, well,

we're going to have an argument here because I will sue. And so we'll sue the agency over this because we think it's wrong. We need. And I met with every agricultural producer in this country and I explained to them exactly if their asset class went under this type of model, what could happen to their hedges at 11 o'clock on a Saturday night when they're unbeknownst to what's going on, when they're being auto liquidated and they think their crops are hedged. I said, this is the most detrimental thing I've ever seen in my entire life. So I'm upset by this, but I'm a measured upset. I'm a very measured upset because nobody else was calling BS on these clowns but me. My friends at the Intercontinental Exchange are the only other exchange that said we do not like this as well.

Everybody else wanted to introduce Bankman Freed's dangerous, bizarre trading model into other sectors of the U.S. economy, in particular, agricultural crop trading. And Mr. Duffy said, this will lead to disaster for farmers, for traders. And he said, why would you do something like this? Now, you notice he said that was March of this year. That's when he had this encounter with Bankman Freed. And then he mentioned that he went to a U.S. Congress congressional hearing to testify against Bankman Freed. Now, I'm going to show you a portion of that testimony in March. And you will, knowing this now, you will understand why the Democrats ganged up on Mr. Duffy and attacked him so viciously because they knew, the Democrats knew

that Mr. Duffy knew that Bankman Freed was a fraud. And so what do the Democrats do? What does the news media do? What does the establishment do? Whatever they accuse you of doing, that's what they're doing. Whatever name they call you, that's what they are. And so they went after Mr. Duffy. And they were accusing him of lying before Congress. The truth is he was telling the truth to Congress, but the congressmen did not want anybody to hear

it. Here is a portion of Terry Duffy's contentious argumentative encounter with hostile Democrats last March. Let's watch. And now the gentleman from California, Mr. Kahana, is recognized for five minutes. Thank you, Mr. Chair. Thank you for your leadership. Thank you to ranking member Thompson for his leadership. Mr. Duffy, you obviously have very strong opinions about cryptocurrency. So let's start with the basics. Could you tell the committee what you understand and how you define blockchain? And can you tell us some of the use cases of cryptocurrency for the American public? Yeah, you know, I had a conversation with somebody in the industry,

and I believe that the use case of cryptocurrency... If you could start with the definition of blockchain, how do you understand blockchain? The blockchain is a node, either centralized or decentralized, run by different platforms with parts of information that only certain people that have access to it can change that information. And once it's in the blockchain it stays there and in order to amend the information it is a lot of procedures and protocols to go through the blockchain it's a very complicated procedure i think it's an excellent

form of uh commerce for medical records things of that nature so i do think what do you see as some of the use cases use cases cases of blockchain? Yeah, and cryptocurrencies. Well, I don't know if there's a use case of here. The one blockchain that's been talked about today is Ethereum. Do you see a use case for stablecoins? Do I think there's a use case? I'm happy to answer your question, but which one do you want me to answer? Stablecoins. Yes or no, do you think there's a use case?

Do I think there's a use case for stablecoins? I think there was until the other day. That didn't go so well for stablecoins. So I'm not so sure if there's a use case? Do I think there's a use case for stable coins? I think there was until the other day. That didn't go so well for stable coins. So I'm not so sure if there's a use case for them. I do believe central governments are on the- You don't think there's a use case for stable coins? Okay, do you think there's a use case for Solano? I think the United States government, sir,

needs to be involved and central banks around the world- I'm just asking you, do you think there's a use case for Solano or some of the other, of the top 10 crypto- I'm not a crypto expert, sir. I list Bitcoin and- Well, you certainly have opinions about crypto opinions about i do i have opinions about an application sir not about cryptocurrency now you you talk about here under oath you say if i could just quote you because you may want to take this back i don't know i don't take anything back ftx ftx well you're

under oath sir i'm not under oath i understand. FTX has no capital requirements for participants. Is that really, are you going to stick to that under oath? Because the CFTC's Part 39 regulation requires capital requirements for FTX or for any of these exchanges. Are you really saying they have zero capital requirements, or do you want to amend that statement given under oath? Sir, you're moving away from your microphone. Can you read the statement that you'd like me to? I'm asking you, sir, you have a saying so that FTX has, quote, no capital requirements for participants. I think that's, on its face, a false statement, given that the CFTC Part 39 regulation requires capital requirements and FTX does have a capital requirement for margins.

I said their capital requirements are not the same as they are for other institutions. Well, that's not what you said, sir. Under oath, you have submitted to this committee a statement that is false. You said the regime has no capital requirements for participants. I would strongly recommend that you have someone on your team amend that statement. Well, I'd like to read that statement because I happen to disagree with you, sir. Well, it's your testimony. It's your testimony. No, I get it. I'd like to see the statement that you are referring to. I can't just go off of what you're reading. Capital is not the same as margin, Congressman.

Well, sir, I want you to, after this, submit something that is accurate, recognizing you're giving testimony to the United States Congress. You don't know much about cryptocurrencies. You're opining on cryptocurrencies, and then you're giving false statements to the Congress that you aren't even staying. You weren't even knowing that you're submitting. You write FTX quote has no capital requirements for participants. That's just false. Sir, I'll be happy to read my testimony back to you if you would like. But if you want to make this into a court of law, I'm happy to participate in that as well. Well, it's not a court of law.

You can't give false statements to the United States Congress. I'm well aware, sir. I've testified in front of this committee over 50 times. I'm well aware of the procedures of this committee. Well, I would submit that you need to correct the record because you have, quote, your testimony, no capital requirements for participants, that anyone who has basic understanding of the CFTC

knows that Part 39 would make that a completely wrong statement. Of course there are capital requirements, and I suggest in the future that you do some homework on what cryptocurrencies are. Well, I appreciate you telling me to do my homework. I assure you, sir, in the amount of years I've been in this business, I forgot more than most people ever know. Well, I appreciate it.

I hope you will correct the record so you're accurate and not giving false testimony. I don't give false testimony, sir. That's not what I do. I yield back my time. That bug-eyed clown, Ro Khanna, is an embarrassment to the nation. How do people like him get elected to the U.S. Congress? He treated that CEO, Terry Duffy, with disrespect and hostility. It turned out Terry Duffy was absolutely right about FTX and about Bankman Freed. He was a fraud. But see, when Mr. Duffy told Bankman Freed to his

face, you're a fraud, and I'm going to tell people about it. Then the Democrats went to work. And so they were waiting for him. They had the ambush waiting for him when he showed up at the U.S. Congress. Well, how many of those people like Kahana? Will Kahana apologize to Terry Duffy? Will he say to him, Mr. Duffy, you know what? You were right. They didn't have any liquidity. They didn't have cash. They stole their customers' cash. You were absolutely right. Now, Kahana's not going to apologize. They're just going to go to the next scandal. And the news media won't do anything to investigate because the news media is part of the corruption. The FBI is not going to do anything.

The regulatory agencies aren't going to do anything. Nothing. Nothing's going to happen. But I'm going to show you a few more things about this scandal, and you'll understand why the politicians are running so scared right now. This next story is a Wall Street Journal. Sam Bankman freed FTX team among top political donors before the bankruptcy. He played a big role in the 2022 election, you know, where the Democrats held on to the Senate and just barely lost the House. This is what the Wall Street Journal said. FTX founder Sam Bankman Freed and members of his team rose from relative obscurity in Washington to be among the biggest donors in U.S. politics,

contributing more than $70 million to election campaigns in less than 18 months. Well, I guess so. If you stole the $70 million, anybody can rise to the top if they've stolen the money. It wasn't his money. He stole the money from his clients. The article goes on to say Mr. Bankman Freed personally gave $40 million to politicians and political action committees ahead of the 2022 midterm elections, mostly to Democrats and liberal-leaning groups, according to the Center for Responsive Politics,

a nonpartisan group that tracks campaign donations. Ryan Salami, another top FTX executive, donated more than $23 million, mainly to Republicans and conservative groups. See, they were working both sides. So the Democrats got the stolen money. The Republicans got the stolen money. All of them had their snoots in the trough, sucking up the stolen money from Bankman Freed's clients. He goes on to say, this is a quote, I'm not going to pass judgment until we see what the details are, said Congressman Tom Emmer, Republican of Minnesota. Well, I guess so, Tom.

You're not going to pass judgment. He said one of the dozens of politicians whose campaigns received money from FTX and its executives, he said Mr. Bankman Freed is a very likable young man. Well, I'm sure you're right, Tommy. Anybody handing out millions of dollars is likable. Who wouldn't like somebody handing out millions of dollars? Of course, he stole the money. He didn't earn the money. He stole the money. And then he handed the stolen money to the politicians in this past election. We're talking about the election just several weeks ago. Those people campaigned with stolen money. Now, this is the point I want to get across.

There were a lot of politicians, congressional candidates, Senate candidates, political action committees that financed their campaigns on money given by Bankman Freed, but he didn't earn the money. He stole the money from his clients. The people who put money into FTX exchange for cryptocurrency, they didn't know he was giving away their money. They had no idea that he was putting his grubby hands into their accounts and pulling out the money and then doling it out to politicians to be a big shot in America. And the news media wrote articles about him during the campaign. This brilliant genius, this cryptocurrency genius who has risen to the top so fast and became a billionaire by the age of 30. It was all a bunch of baloney. He was a crook,

a liar, a con man. And once again, innocent people have been hurt and the game just keeps going on and on in Washington and there nothing will happen about it. Oh, there'll be some hearings. There'll be some talk of regulation, but nobody's going to go to prison over this. And these crooked politicians are going to pay back the money. They ought to give the money back to the clients of FTX that lost their money. These politicians received and spent stolen money. Look, if a bank robber was going from bank to bank robbing the banks and then taking 10, 15, 20% of the stolen money and donating it to the people in that city or county

or that state running for mayor or city council or whatever office. Why is that money, why is that not tainted money? Would those politicians not be held responsible, give back the money that was stolen from a bank. Bankman Freed stole the money from an FTX exchange. That exchange is like an unregulated bank, an unregulated financial institution, and people put their money into that business thinking that he was honorable, trustworthy, holding on to their money, but he was a liar, a skunk, a thief, and bragged about it after he got caught. That's the amazing thing. After he got caught, he bragged about being a crook. He basically said people who have ethics are jerks.

The guy is demented. It's really sad to see somebody like him manage to get to a place that he had billions of dollars in his hands. And now a lot of people have been hurt. I want to go on to this story about the politicians. This is Wall Street Journal. It says the recipients of FTX's largest included official campaigns and fundraising committees affiliated with either political party as well as PACS. The biggest single recipient was Protect Our Future, a group that said it is an organization

designed to help elect candidates who will be champions for pandemic prevention. Underline that. Champions for pandemic prevention. A lot of them got money from Bankman Freed, but also supported pro-crypto candidates. The group received $27 million from Bankman Freed and an additional $1 million from Nashad Singh, an FTX executive. What is this? Oh, I'll give you one more. This is a bank been freed personally out of his so-called personal money. But again, it was stolen money.

Personally contributed the individual maximum of $5,800 to Senator Debbie Stabenow of Michigan, John Boozman of Arkansas, the chair and ranking member of the Senate Agriculture Committee, who co-introduced a bill this past summer that would have given FTX a path toward regulatory compliance in the United States. He also made maximum donations to Senators Kirsten Gillibrand, Cory Booker, Lisa Murkowski, and Susan Collins, among others, as well as dozens of House candidates. So the politicians were lining up to get their money

and then to pass legislation declaring FTX to be legitimate. And the beat goes on in Washington, D.C. Mr. Bankman-Fried and Singh together gave $3 million to Senate Majority PAC, a group affiliated with Senate Majority Leader Chuck Schumer. And Bankman Freed also donated $6 million to House Majority PAC, aligned with Speaker Pelosi. $2 million to GMI PAC, which funded congressional candidates supportive of crypto. Now, Mr. Salami, or Salami, I guess I called him Salami.

Salami, Mr. Salami donated. I was thinking of bologna, that's why I called him Salami. Mr. Salami donated $15 million of stolen money to the American Dream Federal Action Fund, which contributed to Republican candidates. Now, it's a nightmare, isn't it? He contributed $2.5 million to the Senate Leadership Fund associated with Mitch McConnell, $2 million to the Congressional Leadership Fund associated with Kevin McCarthy. So the Republicans got their money, too.

And a spokesman for Senator Gillibrand said she donated the money she received from Bankman Freed to a nonprofit in the Bronx. A spokesman, spokeswoman for Mr. Senator Manchin said he donated it to a food bank in West Virginia. Representatives for Senator Boozman and Senator Collins said they were planning to give Bankman-Fried's money to charity. A spokesman for Pelosi referred questions to House Majority PAC, which didn't respond to a request. Mr. Schumer didn't respond to a request for comment either. Well, how about this, dear senators? You gave the money back to charities.

You didn't give it back to charity charities. You donated it. You need to return the money to the people who were robbed. See, these politicians are trying to get out of this by saying, well, we know he's he's tainted. So we don't want any of that tainted money in our campaign account. So we're going to make a, we're going to make a donation to charity. Now see, it's, it's not tainted money. It's stolen money. There's a difference between tainted money and stolen money.

You know, you could say tainted money, let's say money that came from gambling or money that came from prostitution or drugs. You know, it was a transaction, but it was, you know, a little shady, seedy. That's tainted money. What these politicians received was stolen money. It's a big difference. The politicians need to give the stolen money back to the people who were robbed by Bankman Freed. Now, if they did that, they're doing something right. But I don't expect them to do it.

One more. This is Russia Today. aid to Ukraine, the U.S. Democratic Party, and the suspicious collapse of the FTX exchange. I'm going to save the rest of this article until tomorrow because this goes deep into the corruption of the Democratic Party, the Biden administration, Zelensky, and Ukraine. Yes, once again, Democrat money flowing through Ukraine. Ukraine is the place where the Democrats outsource their corruption. And so we have another situation where corrupt money was sent to Ukraine and the Democrats are involved in it.

Joe Biden, Zelensky, they're all got their dirty, corrupt hands on this money that was stolen from honest people who put their money into FTX. I'm going to save that article for tomorrow. What I want to do now, oh, before, I'll go one more. I want to jump down to number 31. This is a Jerusalem Post. Jared Kushner, Ivanka Trump may have reported Donald Trump to the FBI according to Michael Cohen,

Donald Trump's former lawyer. Think about what he's saying. Mr. Cohen is saying the person who ran it out, Donald Trump to the FBI, was Jared Kushner, his son-in-law, and Ivanka, his daughter. But her name's not Ivanka anymore. It's Yael. She changed her name. And you need to look up what her name means in the Old Testament. She's the one that drove a wooden spike through a man's skull while he was sleeping. Maybe she did that to her father. We got a little soundbite of Michael Cohen appearing on a television show where he, I think this is MSNBC,

where he made this comment about the possibility that Donald Trump's daughter and son-in-law were working for the FBI. Take a look at Jared and Ivanka. Why did they leave? Well, Jared got everything that he wanted. And so did Ivanka. They made $640 million while they were in the administration. Jared's father got the pardon that he wanted. On top of that, Jared pulled down another $2 two and a half billion from the Saudis. And as I've stated, even on this show, I believe I believe Jared and Ivanka potentially

the moles, you know, in terms of the Mar-a-Lago documents and so on. And it would be very interesting to have, let's say, you know, the son-in-law, the daughter who are FBI informants, DOJ informants, right, acting as senior members of a campaign or an administration if he should somehow manage to slide back in. So they're gone as well. Well, what Mr. Cohen said about the slimy dear Krishna is absolutely true. The money that he made while working at the White House, he made off with billions of dollars. And so I would not be surprised that Jared Kushner was a mole working for the FBI inside the White House. I wouldn't be surprised that he was working for Mossad. There's a lot that may come out someday about Jared Kushner. Now I want to use

the remaining minutes in today's True News to do a short Bible lesson. During our trip to Jordan I was able to conduct a Bible study on this topic and other topics. Unfortunately, we were not able to record that Bible study because our production crew was not feeling well that night. But I wanted to share some of the points.

This is an abbreviated, shortened version of what I taught. And it has to do with Matthew 5. Now, what I want you to see here is, and seeing the multitudes, he went up into a mountain. And when he was set, his disciples came unto him, and he opened his mouth and taught them, saying, saying what? He taught the Beatitudes. This is the Sermon on the Mount.

And that's what I'm going to be talking about here today, the Sermon on the Mount. Now, let's look at this again. Matthew 5, verses 1 and 2. Seeing the multitudes, Jesus seeing the multitudes of people, he went up. I want to underline that. He went up into a mountain. And when he was set, his disciples came unto him,

and he opened his mouth and taught them. Who did he teach? The disciples, not the multitudes. He taught the disciples. Now, let's go to Luke chapter 6. And he came down with them. He came down. Came down from where?

He came down from the mountain. With who? The disciples. And stood in the plain. And the company of his disciples and a great multitude of people out of all Judea and Jerusalem. And from the sea coast of Tyre and Sidon. Which came to hear him and to be healed of their diseases. And they that were vexed with unclean spirits.

And they that were vexed with unclean spirits and they were healed. And he goes on in the rest of of chapter six to teach the Beatitudes, what we call the Sermon on the Mount. What's my point here? Jesus gave that sermon at least twice. I personally think he gave it multiple times. I think it was his favorite sermon. Just because we don't see it repeated throughout the Bible does not mean that he did not give that same sermon often. It was the core message, the core message of his kingdom. You see, twice, twice in the history of the human race, God came to earth and stood on a mountain

and delivered the law, his commandments to the people. The first time in the Old Testament, God came down on Mount Sinai. And met. With Moses. His disciple. And delivered the law. The commandments.

To Moses. And then Moses went down the mountain. And gave the commandments to the people who were in the plane. Thousands of years later, God came to earth again in human flesh this time in the, in the body of Jesus Christ, the son of God. And he stood on a mountain again, and he gave a new set of commandments, which we call the Sermon on the Mount. He gave the commandments to his disciples. And after they had heard the commandments, Jesus and the disciples went down the mountain into the plain and delivered them to the people. It's the same sequence of events. But there's something

else I want you to see and understand about the Sermon on the Mount. And that is this, that each of the Beatitudes, by the way, the Beatitudesitudes begin with the word blessed. Blessed. The word means happy. When Jesus says, blessed are. Blessed are the people who do such and such. What he's saying is happy. Happy are the people who do these things.

You want to be happy? Do these things. You want to be happy? Do these things. Jesus Christ promised happiness to the people who do these commandments. Jesus Christ is coming back for those who keep his commandments. What are those commandments? They're in the Sermon on the Mount. Keep those commandments. Are you keeping the commandments on the Sermon on the Mount. Keep those commandments. Are you keeping the commandments on the Sermon on the Mount? I have to ask myself that question also. Am I keeping

those commandments that he gave us on the Mount? Most people think, and I did for a long, long time, that when Jesus said, if you love me, keep my commandments, that he was referring to the Ten Commandments in the Old Testament. He's referring to the Sermon on the Mount. If you love me, keep my commandments. What commandments? The Beatitudes. Now, here's another thing that you need to understand about the Beatitudes, the Sermon on the Mount. They must be learned and put into practice.

They have to be utilized in sequence. You can't jump to, you can't start with beatitude number four without first doing the first three beatitudes. You can't do the seventh beatitude until you've done the other six. They're in order. You can't mix up the order. You can't say, I'll start with eight and then do five and then do three and then do seven. No, you have to do them in order. You can't say, I'll start with eight and then do five and then do three and then do seven. No, you have to do them in order. There's a reason for it. There's a sequence to applying these commandments in your life. I want to take a brief look at the commandments, the Beatitudes. We'll start with Matthew chapter 5 verse 3.

Blessed are the poor in spirit for theirs is the kingdom of heaven. Blessed are the poor in spirit. What do they receive if they're poor in spirit? They receive the kingdom of heaven. You know, nobody explained this to me for decades. I'm not happy with the current state of the biblical teaching in American churches. It's very superficial. It is,

it's just modern pop psychology. You have to go back, go back into centuries past and study what men of God were teaching about the Beatitudes and then you get a much deeper understanding. So Jesus said, blessed are the poor in spirit. What does this mean, poor? Poor in spirit. I think most people think I'm blessed if I'm poor. And if I'm poor, I'm going to get this kingdom of heaven. That's not what he's saying.

That's not what he's saying. Well, he's saying if I have a poor spirit. No, that's not what he's saying. The word poor, it would be much better translated as beggar. Blessed is the beggar. Blessed is the person who has a beggarly spirit. Poor in spirit. It actually means to be bankrupt, to be spiritually bankrupt. And so the first beatitude is you must start your life in the kingdom of heaven.

You must start with a bankrupt spirit. What does that mean? You have to recognize that your righteousness, my righteousness, are as filthy rags before the Lord. We're bankrupt. We're bankrupt. We're bankrupt. I don't care how good you smell, how good you look, and how important you think you are. You are bankrupt spiritually in the eyes of the Lord.

All of us are. None of us are capable of saving ourselves. We're not capable of living a sinless life. We're not capable of making our sins disappear and be forgiven. We have no power to do any of these things. We are spiritually bankrupt and we enter into the kingdom literally crawling on our hands and knees, begging the Lord for entrance into the kingdom of heaven. We come in as beggars.

Ask number one, blessed are the poor in spirit. And if you have that, if you have that beggarly bankrupt spirit, knowing that you are a wretched sinner in need of a savior, in need of a God who will forgive your sins. If you know that there's nothing good in you whatsoever, apart from Christ, then you are a beggar entering the kingdom of heaven. And Jesus makes a promise. You will receive the kingdom of heaven. That's his promise. Number two, this is verse, Matthew 5, verse 4. Blessed are they that mourn, for they shall be comforted. Once again, nobody ever explained to me what this means. Mourn. Well, you mean to just cry aloud, to be sad.

I don't like to be around sad people. I don't like to be around people moaning and groaning. And is that what that means? Blessed are those who mourn. If you're mourning, if you're sorrowful, you're, you know, life's not going good for you. You're mourning and you're going to be comforted. Is that what Jesus meant?

No. What are you mourning? Remember what I said? In order to understand and apply the Beatitudes, you have to do them in sequential order, starting with number one, then going to number two. What was number one? Number one is that you have to recognize that you are spiritually bankrupt. You are absolutely unable to save yourself. You have nothing good about your life in comparison to God's righteousness. You are bankrupt.

Number two, you mourn. What are you mourning? Your bankrupt status, your mourning, your complete inability to save yourself. You're mourning that you were born into this world as a sinner, that you were separated from God. You're mourning that state. And so what does Jesus say? You will be comforted. He promises that you and I will be comforted when we are truly remorseful for our sinful state.

When you get up every single day and know that you are a sinner in need of a savior. And you're truly sorry for the sins that you committed in your life. And you realize that you're spiritually bankrupt. Jesus said it's a promise from him. He will comfort you. Let's go to Beatitude number three. Blessed are the meek. for they shall inherit the earth.

Well, if you are aware of your spiritual bankruptcy and your need for Savior and you're remorseful and sorrowful for your sins and your condition in life, you know what? You can't be proud and boastful. Instead, you'll be meek and humble because of the right attitude. You're putting the attitudes in order. One, you recognize you're a beggar, a spiritual beggar. You're crawling into the gates of the kingdom of heaven on your hands and knees. Number two, you're mourning over your sad state of affairs spiritually. Number three, you're humble.

You're broken. You're contrite. You got a broken and contrite heart and mind. And what does God say? Such people shall inherit the earth. The new earth. Such people, the meek, shall inherit the new earth in the kingdom of God.

The next one. This is Matthew 5 verse 6. Blessed are they which do hunger and thirst after righteousness for they shall be filled. You can't hunger and thirst for righteousness until you are aware that you're bankrupt. You have nothing. That your righteousness is but filthy rags in the eyes of God. How can you hunger and thirst?

If you don't realize that you're destitute. Spiritually destitute. Broke. Without anything to save yourself. But when you put these all in order. First beatitude. Knowing that you're bankrupt spiritually, and then mourning over your state and then being broken in a contrite heart. And now how can this be satisfied? You're hungering, you're thirsting for God's righteousness, not the world's righteousness, but for God's righteousness. You're hungering and thirsting for it to satisfy your soul.

And what does he promise? He says, for they shall be filled. God himself will fill you with righteousness. What is righteousness? It is being in right standing with God that's what it means righteous is to be in right standing with God and he said when you're hungering and thirsting for righteousness I personally a God of the universe I will I will satisfy your soul I will feed you I will give you soul. I will feed you. I will give you the water. I will give you the spiritual food that you desire. And you will be filled.

Then we go on to Beatitude number 7. Blessed are the merciful, for they shall obtain mercy. You're not going to be merciful to other people until you know that you need God's mercy. You're not going to be merciful to other people until you know that you need God's mercy. And you're not going to be aware that you need God's mercy until you're hungering and thirsting for righteousness. And you're not going to hunger and thirst for righteousness until you have a broken and contrite heart.

You're not going to have a broken and contrite heart until you're mourning over your sad affairs as a bankrupt sinner. Do you see the progression of the Beatitudes? One leads to the next one and you cannot move them out of order. You have to start with one and work your way to eight. But he said, blessed are the merciful for they shall obtain mercy. When you're merciful to other people, people who do not deserve mercy. You and I don't deserve God's mercy.

We don't deserve it, but he gave it to us. He gave us mercy. He gave us forgiveness. We didn't deserve it, but he gave it. There are people in your life that need mercy. They don't deserve it. And if you're thinking, I'm not giving them mercy because they don't deserve it. And if you're thinking, I'm not giving them mercy because they don't deserve it.

Well, then you're out of line with the way your heavenly father thinks. Because if he bases the distribution of his mercy to people on whether they deserve it, well, nobody's going to get any. It's what makes mercy so great. God is giving you.

Something you don't deserve. Something you haven't earned. And so if you're not merciful to other people. Then you're cutting off God's mercy to you. And none of us want to do that. Be kind. Be tenderhearted to people who are in need. Be merciful to them.

When they ask you to forgive them, forgive them. Forgive them before they ask you to forgive them. Show mercy. Show the tenderness of god towards sinners towards people who have wronged you offended you and just show them mercy and then god will show mercy to you what's next blessed are the pure in heart for they shall see God. Purity in heart is progressive in life. Your purity increases as the years go by, as you reach for God,

as you desire him, as you hunger and thirst for righteousness, as you put aside the things of this world and the works of the flesh and all the carnal desires, you put it aside because you desire your hunger for God and his righteousness. And as time goes by, the purity of your life increases. And Jesus said the pure are blessed. They're happy because they will see

God. You will see God in this life in the sense of how he interacts with you, intervenes in your life, provides for you. But when you leave this world, you will see God because your heart is pure. Next, blessed are the peacemakers for they shall be called the children of God. And we tend to think that this means peacemakers who stop arguments and fights and wars. And this definitely applies to that. Anytime you can intervene and stop two people from arguing or stop two countries from going to war.

You're a peacemaker. If you can bring peace in your family between warring members of your family, you're a peacemaker. But the ultimate peacemaker is to help people be reconciled to God. God has a great controversy with the nations. That controversy has been in place since the Old Testament days, since the great flood when the creation of nations were formed after the flood of Noah.

And God has had a controversy with the nations. And Jesus Christ was brought to earth. He came to earth to announce peace, peace between God and mankind. We're coming up soon on the Christmas season. And, you know, when the angels sang over the skies of Bethlehem and the shepherds heard them singing

peace on earth, goodwill toward men. I think a lot of people think, well, I guess they had to sing that because Hallmark was going to make Christmas cards someday and they had to have something on the card. Peace on earth, goodwill towards men. What were the angels singing? What were they proclaiming?

They were proclaiming to mankind. There's peace, peace from heaven to earth. God is declaring peace. The controversy is ending. He's reconciling fallen mankind with a righteous God of heaven. Peace. Goodwill towards men. Not judgment.

Goodwill. Not punishment. Goodwill. Peace on earth. Goodwill towards men. And so our ultimate assignment as disciples of Christ is to be a peacemaker, helping fallen men and women, sinners, separated from God to become, to be reconciled with their maker. And that is the ultimate peacemaking. When you help someone be reconciled to God, their maker.

And God says, the peacemakers shall be called the children of God. Don't you want to be called by God to be his son, his daughter? So when you reconcile lost sinners to him, he says, you are my child. You are carrying out my will on earth. His ultimate will on earth is to reconcile fallen

humanity to himself. So become a peacemaker, spread the gospel, lead people to Christ. And then he said, blessed are they which are persecuted for righteousness sake, for theirs is the kingdom of heaven. You will be persecuted if you put these beatitudes into practice. That's guaranteed. You're going to be persecuted if you represent Jesus Christ. If you live a godly, clean life, a righteous life, you're going to be persecuted no matter what you do. You will be persecuted. That's a guarantee. But look at the last. Blessed are ye when men shall revile you and persecute you and shall say all manner of evil against you falsely for my sake. Rejoice.

Jesus said when they revile you, hate you, despise you. When they come against you, persecute you, attack you, try to shut you down, try to de-platform you, take things from you, lie about you. When they say all manner of evil things against you, when they slander you for the sake of Christ. He said, rejoice, be happy, rejoice, and be not just glad, be exceed in heaven for so persecuted they the prophets which were before you these are the promises of God of Jesus Christ when he stood on the mount the second time God stood on a mountain and delivered the commandments of heaven to the human race. And Jesus said, when you do these things, you will be happy. So I ask you right now, are you happy right now? If you're not happy, then you were just given a formula that will make you happy. And if you do these things, God will give you a blessing

that is beyond anything that you can comprehend. The ultimate is your reward in heaven is great. You will inherit the earth, the new earth. You will inherit it. These are the promises that God has made to his people. I hope this teaching has been a blessing to you. And I encourage you to tell people to watch this episode of True News. Hey, pray for Doc and Lee and Eddie and our production team. Pray that they recover and get better. They're just not feeling well.

And hopefully everybody will be back here tomorrow. I love you very much. Thank you for being with me today. Take care. I'll see you tomorrow.