Trump Has Catastrophic Day as GOP Senators Turn Against Him

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1:49Ben Meiselas:Donald Trump is having an awful Monday morning as his effort to launch a criminal investigation into the chairman of the Federal Reserve, Jerome Powell, who he appointed is backfiring in his face. We're now hearing from Republicans who are demanding an investigation not into Powell, but into Trump's DOJ for its weaponization. Republicans demanding a criminal investigation into the DOJ for criminally investigating Jerome Powell. But Donald Trump's been on a rampage all morning. He's making posts like this. I'm the one who saved NATO, President DJT. Now, as Donald Trump threatens to invade Greenland, which has caused NATO nations to respond by potentially putting forces in Greenland to protect against a United States invasion, as Donald Trump has done more to break up the NATO alliance than in history, Donald Trump is saying that he saved NATO.

2:56Ben Meiselas:Then Donald Trump is getting some instant rebuking to his face from his post that he is now the acting president of Venezuela. You have Democratic Senator Amy Klobuchar said, so Trump is posting about being the acting president of Venezuela when he's not even acting like a president at home. That's for sure. Now, the former chair members of the Federal Reserve and former treasury secretaries put out the following statement. Former Fed chairs and treasury secretaries put out a statement on Monday defending Jerome Powell after the Justice Department opened up this criminal investigation into Powell.

3:43Ben Meiselas:So you have everybody from Ben Bernanke, who served two terms as chair of the Fed, Jared Bernstein, chair of the Council of Economic Advisors under Biden, Jason Furman, chair of the Council of Economic Advisors under Obama, Timothy Geithner, who served as the 75th secretary of the Treasury under Obama, as well as the president and chief executive officer of the Federal Reserve Bank of New York, Alan Greenspan, Glenn Hubbard, Jacob Liu, Henry Paulson, who was Bush's guy. So you keep going down the list of all them. Republican, Democratic leaders in this area, here's the statement that they put out.

4:20Ben Meiselas:The Federal Reserve's independence and the public's perception of that independence are critical for economic performance, including achieving the goals Congress has set for the Federal Reserve of stable prices, maximum employment, and moderate long-term interest rates. The reported criminal inquiry into Federal Reserve Chair Jay Powell is an unprecedented attempt to use prosecutorial attacks to undermine the independence. This is how monetary policy is made in emerging markets with weak institutions, with highly negative consequences for inflation and the functioning of their economies more broadly.

4:57Ben Meiselas:It has no place in the United States whose greatest strength is the rule of law, which is at the foundation of our economic success. An unprecedented statement from Democratic and Republican Fed chairs and Treasury secretaries putting that out moments ago. As I mentioned yesterday, Republican Senator Tom Tillis said that it requires that there's now an investigation needed of the Department of Justice, that its independence and credibility are in question. Of course it is. This regime has been engaged in the most horrific criminal conduct that there is. The DOJ is covering up a child sex trafficking ring.

5:39Ben Meiselas:And Tom Tillis said that he's holding up Donald Trump's nominees, both in the Department of Homeland Security because Kristi Noem refuses to show up before Congress. But also now he's saying that he will put a hold on anyone Donald Trump wants to appoint to the Fed, whether it's the Fed chair vacancy or any other Fed position. And he's on the banking committee in the Senate. He says, until this matter is legally resolved, Republican Senator Lisa Murkowski just put out the following statement. After speaking with Chair Powell this morning, it's clear the administration's investigation is nothing more than an attempt at coercion.

6:17Ben Meiselas:If the Department of Justice believes an investigation into Chair Powell is warranted based on project cost overruns, which are not unusual, then Congress needs to investigate the Department of Justice. The stakes are too high to look the other way. If the Federal Reserve loses its independence, the stability of our markets and the broader economy will suffer. My colleague, Senator Tillis, is right in blocking any Federal Reserve nominee until this is resolved. So what are other MAGA Republicans saying? Well, MAGA Republican Senator Roger Marshall says, I don't think Donald Trump was being serious about this criminal investigation into Powell.

6:58Ben Meiselas:This morning, Roger Marshall says, I just think this is the way Donald Trump trolls. It's like a trolling thing. You know, he's a troll. And so he's trolling by demanding that the DOJ launch a criminal investigation into Powell. And the DOJ has now opened up a grand jury criminal investigation into Powell. You know, trolling. Here play this clip. Is there really a reason for an investigation? Because, you know, a lot of people are looking at this and saying, well, wait a second. We know President Trump does not like Jay Powell and we know that he's calling him stupid and that he hasn't cut rates fast enough.

7:33So is this political or did Jay Powell break the law and mislead or lie to the Senate Banking Committee? And you say. Well, Maria, we'll let the system play through here. I think there's other issues that we should be focused on. I think this is the president throwing out one more. Maybe he's even almost trolling here as well. We got bigger issues to go after than this one, though.

8:24Ben Meiselas:I wouldn't be worried. I would just say, OK, here are the documents. I have nothing to hide. So why is everybody worried that he's doing a criminal investigation into the chairman of the Federal Reserve? Play this clip. I think that if, you know, I'm here sitting here in the White House and somebody says, hey, Justice Department wants to look at all your emails or look at what you've been doing on this or that, then I would welcome the opportunity to show them that I'm fine. And I also think that that's what I would expect of every government employee, that you want government employees to sort of say, hey, here's my proof that there's been nothing like the Minnesota thing going on.

9:07And, you know, anyway, so it's part of government to have people look at you, inspectors general, and check that what you're doing is completely on the up and up. and I think that it's part of government here and at the Fed as well. This episode is brought to you by IQ Bar, our exclusive snack, hydration, and coffee sponsor. IQ Bar protein bars, IQ Mix hydration mixes, and IQ Joe mushroom coffees are delicious, low sugar, brain and body fuel you need to win your day. The new year means a clean slate, time to transform frustration into fuel and power your day with IQ Bar. The Ultimate Sampler Pack is a great way to try all IQ Bar products and flavors.

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11:05Ben Meiselas:And Trump's other top economic guy, Peter Navarro, again, who's even worse than Kevin Hassett, if that's possible, says the following play this clip. It was Joe Biden and Jay Powell that let the inflation genie out of the bottle. And so, and it spared me this like, oh, Fed independent stuff and Tom Tillis and all that. I said, come on, that's a politicized body. And he's the worst chairman since Arthur Burns started running the money pump for Richard Nixon for reelection. So let's get to the bottom of this. But there's a lot of good stuff going on with President Trump. I also saw other MAGA Republican Congress members and senators on the morning shows as this morning trying to defend Trump regimes, killing of Renee Nicole Good and the just the atrocities being committed by Trump's ICE and Border Patrol Gestapo.

12:03Ben Meiselas:Donald Trump's paramilitary forces. So now what Trump's MAGA sycophants is so disgusting. They're going on the morning shows and saying, you know what really needs to happen? We need accountability and arrests. We need for Governor Walz and Mayor Fry of Minneapolis, they need to be arrested because they're the ones causing all of this. It's their fault. They're provoking anger against ICE. I don't know, maybe it's the fact that ICE and Border Patrol have been invading communities and they are arresting people who are just hardworking people trying to get by in this country and that that's what you're engaged in.

12:46Ben Meiselas:You're engaged in these Gestapo tactics. Listen to what Congresswoman Sherry Biggs says. This is on state regime media. MAGA Republican Congresswoman Sherry Biggs play this clip. And then at the same time, you've got Mayor Jacob Fry and Governor Tim Walz inflating the situation once again by demonizing ICE. I'm sorry, but do you think it's long past due for these Democrat officials to be charged for clearly inciting violence against our federal agents? I mean, is there something that Congress can do to hold these people accountable? Well, I certainly hope so. And I hope that'll be on the table for discussion this week as we get back to work.

13:26Ben Meiselas:You had Democratic Senator Warner on CNBC. And here's how he talks about the lack of training of these ICE and Border Patrol Gestapo. And he's speaking to the CNBC guy who's like the top MAGA, one of like the main MAGA hosts on CNBC. Play this clip. But the idea that we're going to send in these ICE agents, by the way, Joe, you realize guys, ICE used to take five to six months to get trained. They've now lowered the training period to 47 days. Why 47 days? Because Donald Trump's the 47th president. Tell me that's a rational approach. I'm not. I'm not. Obviously, I'm not going to take that. I'd say it's a rational approach, but I just joke.

14:09Ben Meiselas:You can't pick your face. More from Senator Warner here about Trump's never ending wars and the fact that Trump just without congressional authorization, Trump has actually engaged in multiple military attacks over the past year. Play this clip. Good thing. But but I think and I don't know what are you concerned? This could be a forever war or I just got to say this. We got 20 percent of the fleet off the coast of Venezuela. The aircraft carrier, the Gerald Ford, that's supposed to be in the Middle East, is off the coast of Venezuela. You know, and I know, you know, American oil going in, it's going to take a couple years to rebuild Venezuela's oil infrastructure.

14:51Is that fleet going to stay there for two years? What are the costs there? Remember, the president's promised it's not going to cost us a dime. Venezuelan oil is going to pay for it all. I don't know if that's happening. Remember, it wasn't Donald Trump. I know he's your guy, but I thought he was going to be the peace guy. He was going to be the peace guy. You know, he's not Andrew. I didn't say that. Let me just say this. I'm America's guy. This guy was America's guy. We've had American intervention in Syria, Iraq, Iran, Yemen, Nigeria, Venezuela, maybe Greenland, where he would blow up NATO.

15:28Did you see the Brits and the Germans are putting troops in Greenland because they want to try to send a message? Don't attack Denmark, another NATO ally. How is this leading to price stability, bringing down cost? And now we got the frontal attack on the independence of the Fed.

15:44Ben Meiselas:Come on. You probably went Fordow. And then lastly, I'll show you Christy Noem. I don't think this got enough attention. But this is from Christy Noem's yesterday with Jake Tapper. It was a disastrous interview for her. But there was one point that stood out that I think it's important that we highlight. That when she was shown the video of that officer, Jonathan Ross, the murderer. He's not even an officer. The murderer, Jonathan Ross, who killed Renee Nicole Good. the ICE Gestapo guy, and the guy goes, effing B. He curses at her after he shoots her in the face three times. Watch Kristi Noemir, she smirks, she finds this funny.

16:26Ben Meiselas:She gets off on this. She finds the murder of an American citizen by ICE Gestapo to be funny, play this clip. Is that Agent Ross's voice calling Renee Goode a fucking bitch? I can't determine which one it is, but it could be, sir. In June of last year, there you have it folks. We'll keep you posted every step of the way this morning. Hit subscribe. Let's get to 6 million subscribers. Thanks for watching. Want to stay plugged in? Become a subscriber to our sub stack at MidasPlus.com. You'll get daily recaps from Ron Filipkowski, ad free episodes of our podcast and more exclusive content only available at MidasPlus.com.

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