00:00Genius Act provides banks, businesses, and financial institutions a framework for issuing
00:22crypto assets backed one for one with real U.S. dollars, treasury bills, and other cash
00:29equivalents is really strengthening the dollar and giving the dollar great prominence.
00:35And you know, you have this little group called BRICS, it's fading out fast, but BRICS is,
00:40they wanted to try and take over the dollar, the dominance of the dollar and the standard
00:45of the dollar.
00:46And I said, anybody that's in the BRICS consortium of nations, we're going to tariff you 10 percent.
00:52And they had a meeting the following day and almost nobody showed up.
00:56They said, leave me alone.
00:58Look, we didn't want to, they didn't want to be tariffed there or that, it's amazing.
01:02No, we're not going to let the dollar slide.
01:04If we have a smart president, you're never going to let the dollar slide.
01:07If you have a dummy, that could happen.
01:09Like the last one, he would, if you ever asked him about the dollar slider, he would have no
01:13idea.
01:14But we can't let that ever happen again.
01:18Consumers, vendors, and people all over the world will then be able to use those stable
01:22coins for ultra low cost transactions that are cleared and settled in a matter of seconds
01:27rather than weeks and months.
01:30And it's really an amazing thing.
01:32And with the privacy, flexibility, and decentralization of cash, this revolution has the potential to
01:39supercharge American economic growth and empower billions of people to save and transfer in
01:45U.S.
01:46dollars.
01:46It's really all backed by the dollars.
01:48It's really a great thing.
01:50And a lot of, you know, we had a lot of Democrat support.
01:53I have to tell you that.
01:54I was shocked.
01:55Anytime you get one, but we had a tremendous amount of Democrat support, which we appreciate,
02:02and which just shows you that you're doing the right thing, this will increase demand
02:08for U.S. treasuries, lower interest rates, and secure the dollar's status as the world's
02:13reserve currency for generations to come.
02:16The reserve currency is so important.
02:18You know, if we lost that, that would be like losing a world war.
02:21We can never let anyone play games with us.
02:23And that's why when I heard about this group from BRICS, six countries, basically, I hit them
02:29very, very hard, and if they ever form, if they ever really form in a meaningful way,
02:38it will end very quickly, I will tell you, for them.
02:41They won't be gone very long.
02:43I don't think they'll even do it.
02:45They're virtually afraid to meet.
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