00:00I also secured commitments from virtually all NATO allies to increase their defense spending
00:06to 5% of GDP. Everybody but Spain. I don't know what's happening with Spain. Why would they not
00:12do that? They want a free ride, I guess. Every country but Spain increased to 5%. I don't know
00:20why. We're going to have to talk to Spain. With America's renewed attention to security of the
00:26Western Hemisphere, I've stopped the invasion on our southern border and designated the drug
00:31cartels as foreign terrorist organizations. And you probably saw that we've stopped, virtually
00:38stopped almost 100% all drugs coming in by water. Now we're going to stop them on land.
00:43The land is easy. The water is tough. But that's down now. I heard it just last night. It was
00:5197. Now it's 98.1%. And we're trying to figure out who are the 2% that are willing to get
00:57into those boats. I don't think they watch television or the news. But we've taken out almost 100%
01:05of all of the drugs coming into the United States by water. And now we'll, I think, very easily
01:11stop them on land. That's the easy part. We wanted to wait until the other was taken care
01:16of an earlier this month, thanks to the unrivaled skill, power, and might of the U.S. military.
01:21We have the most powerful military in the world by far. We captured the outlaw dictator, Nicolas
01:28Maduro. And the people of Venezuela are very happy about it. And we're having great relationships
01:35with the leaders of – the new leaders of Venezuela. The relationships have been good. We're opening
01:42up the country to our giant oil companies. And it's going very well. We've already taken
01:49out – think of this – 50 million barrels of oil. And a lot of that's going to go back
01:55to Venezuela. They'll do more income with us in a short period of time than they did in
02:01years. Because as much oil as they have – and they have a lot, just about the most. After
02:07us, there's a couple of countries that are in that category. But we have the most, actually,
02:13and they're second. Between Venezuela and us, we have 62 percent of the world's oil.
02:20But they have very little production, so they'll have a lot of production. All the oil companies
02:24– we had meetings. You probably saw all the oil companies want to go in. They want to go
02:28in immediately. We're already – they're already touring the sites. But our military was amazing.
02:33That strike was amazing. We had a second wave coming. We didn't need it. They said,
02:38no second wave. We don't want a second wave. The first wave was enough. And of course,
02:43we're working to end the horrible killing in Ukraine, a war that should never have happened
02:50and would have never happened if I were president. That was not going to happen. I used to speak
02:56to Vladimir Putin about Ukraine. And it was the apple of his eye, but he would never have
03:01ever done it. Said that – you can't do that, Vladimir.
03:05As part of this historic record of major peace initiatives, today we're announcing more details
03:11regarding the Board of Peace – so important. This board has the chance to be one of the
03:16most consequential bodies ever created. And it's my enormous honor to serve as its chairman.
03:22I was very honored when they asked me to do it. We had an idea to do it, and then they came.
03:27I was very honored to be the chairman. But I take it very seriously. We have a great group
03:34of people and incredible young people that are leading it from within. It's running beautifully,
03:43started already. And every country – just about every country – wants to be a part of
03:49it. And we just sent out the letters a couple of days ago, and these are just the countries
03:54that are here. They happen to be in Davos. So we would be honored if you wanted to join
04:01the stage.
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