00:00The President has dropped to a five-year low, and I tell you, the only thing, we got a little
00:04raise with gasoline, it's going to come down lower than what it was. Don't forget, we had that gasoline down
00:11to two dollars in many, below two dollars in many cases. It's going to come tumbling down. There is so
00:17much oil out there. It's pent up. It's all locked up in the Strait of Hormosa. Beautiful place. It's, uh,
00:25I think they have close to 400 ships loaded up with oil.
00:27When all of that gets released, when all of that comes out, these people tried to hold up our country
00:33for years and years, the world, by closing up the Strait of Hormos. When all of that stuff comes out,
00:40you're going to see prices dropping on gasoline like you've never seen, and all of that. Electricity, gasoline, anything having
00:47to do with energy. Grocery prices are way down. Used car prices are way down. Look at eggs. Eggs are
00:54down by four, even five times.
00:56Remember when I took over, eggs were so high. Remember my first news conference, as president of second term? Two
01:06days in, I said, ladies and gentlemen, do you have any questions? What about eggs?
01:11I said, what? Eggs, egg prices are four times higher than they were a year ago. I said, I just
01:18got here. I've only been here for a day and a half.
01:22And we had a problem with eggs. The prices were through the roof. I got them down to now. They're
01:27lower than they were at the lowest point four years ago. Think of that. But I got them down. Does
01:33anybody write about it? No.
01:34That's why I like doing speeches. You know, they don't write about it, so I do speeches. That way I
01:39can talk about it. Sometimes you got to do it yourself. Earlier this year, I directed Fannie and Freddie to
01:47buy, you know, that is, well, where's Bill? Where's Bill Pulte? He's around here someplace. He's done a lot of
01:52great job. He's created a trillion dollar value. Look at him over there. He's jumping. Smart guy.
02:00During my first term, I was offered, sounds like a lot of money, but it's very little compared to what,
02:07less than a hundred million dollars to buy Fannie and Freddie. And I said, nope, I don't want to sell
02:12it. Don't sell it. They wanted to sell it so badly. And now it's worth over a trillion dollars. If
02:18I would have sold it, I would have felt like a schmuck, you know, to be honest. It's worth over
02:23a trillion. What is it? About a trillion dollars now, right? He says higher.
02:28No, we could have sold it. We could have given it away for nothing, practically nothing. So I directed Fannie
02:34and Freddie to buy 200, that's Bill, $200 billion in mortgage bonds, bringing interest rates plummeting down from nearly 8
02:42% under Sleepy Joe and 6% even lower.
02:45And don't forget, we had a hostile Fed guy. We had a guy too late. We call him too late.
02:50He's too late with interest reductions. Jerome too late Powell. We had a, I don't, I haven't figured out, is
02:58he a bad guy or a dumb guy? But it doesn't matter.
03:00The end result. He's either dumb, bad. Maybe he's a combination of both. But in any event, because rates, we
03:08would have had them even lower. But we've, we've done great considering that we're fighting. Now we have a great
03:13Federal Reserve Chair coming in and he's going to be fantastic. Kevin Warsh.
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