00:00in twenty ten china cut off rare earth exports and america's military went into panic mode f thirty five fighter jets patriot missiles even our nuclear submarines all suddenly at risk of being grounded
00:19but here is the crazy part america used to dominate this industry we controlled seventy per cent of the world's rare earth supply until we made the biggest strategic mistake in modern history
00:36in nineteen ninety five we sold magna quench our only producer of military grade magnets to china for pocket change by twenty two they moved everything to china giving them control of eighty five per cent of the magnets and our precision guided weapons
00:58today china controls ninety per cent of rare earth processing one decision by beijing can cripple our entire defense industry they literally hold our military hostage
01:14now america is scrambling to catch up we reopened the mountain pass mine but we're still decades behind the real question is is it too late
01:27the country that controls rare earth controls the future and right now that's not america
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