Trump Panics as War Suddenly Escalates

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1:12Ben Meiselas:Go to eatiqbar.com and enter code BAR20 to get 20 % off all IQ Bar products plus free shipping. Again, go to eatiqbar.com and enter code BAR20. Donald Trump's unlawful war against Iran is spiraling out of control. Things are escalating. The United States and Israel are confirming that they've just targeted Iran's largest natural gas processing facility earlier this morning in southern Iran. Iranian reports indicate that these facilities are affiliated with the South Pars offshore gas field were struck by Israel. Israel said, we did this with the United States. This is massive escalation, folks.

1:58Ben Meiselas:That is how Iran is perceiving it as well. Iran's Islamic Revolutionary Guard Corps, the IRGC, they've now issued evacuation orders for four energy facilities in Saudi Arabia, Qatar, and the United Arab Emirates following this morning's Israeli end. We know these were joint Israeli-U.S. strikes against energy infrastructure in southern Iran. And these facilities include the major facilities in those nations that I mentioned. A spokesperson for Qatar's foreign minister just issued the following statement. The Israeli targeting of facilities linked to Iran's South Pars field, which is an extension of Qatar's Northfield, is a dangerous and irresponsible step amid the current military escalation in the region.

2:51Ben Meiselas:Targeting energy infrastructure constitutes a threat to global energy security as well as to the people of the region and its environment. We reiterate, as we have repeatedly emphasized, the necessity of avoiding the targeting of vital facilities. We call on all parties to exercise restraint, adhere to international law, and work toward de-escalation in a manner that preserves security and stability in the region. Now, we're hearing from Donald Trump right now. Moments ago, he posted on his social media platform. Let's see how he is addressing this escalation. Donald Trump writes, I wonder what would happen if we, quote, finished off, end quote, what's left of the Iranian terror state and let the countries that use it, we don't, be responsible for the so-called straight.

3:47Ben Meiselas:And then he spells it S-T-R-A-I-G-H-T. That would get some of our non-responsive allies in gear and fast. D-J-T, that's your response to all of this right now. What are they saying in Iran right now. Iran is their leaders are saying we previously made clear and repeated warnings that were given to your rulers in Arab nations about entering down this dangerous path and gambling with the fate of your nations. And they say, evacuate now. We are hitting your energy facilities. Wow, wow, wow. Wow. We now see right now, Bloomberg is reporting, folks, that multiple oil and gas facilities in Saudi Arabia, Qatar and the UAE, they've been evacuated right now as a result of these.

4:44Ben Meiselas:They're calling it Israeli strikes, but Israel saying we did it with the United States. Israel strikes this morning against several energy sites in southern Iran and threats made by Iran's Islamic Revolutionary Guard against these facilities. We're hearing now from the chief propagandist at the White House, Caroline Levitt. She says, we don't need the Strait of Hormuz for our energy. Let's just let the others deal with it. Here's what she said. Let's play this clip. Has there been any movement overnight on behalf of our allies that has softened their position about going through the Strait of Hormuz?

5:22Not overnight, but the president and his team, especially Secretary Hegseth and Secretary Rubio, continue to be in touch with their counterparts in Europe and, of course, our allies in the Arab and Gulf region to step up and do more to help the United States in securing the Strait of Hormuz. This is to their benefit, more so than it is to the benefit of the United States. Thanks to President Trump, we are a net exporter of energy. We don't need the Strait of Hormuz for our energy here at home for the American people. Of course, we want the Strait to be open for the global oil market and to stabilize prices and bring them down again.

5:59And we have options at the military has options to continue doing that. But the president is right to call on our allies to step up, to do more.

6:07Ben Meiselas:And then Caroline Levitt says NATO is being very unfair to us right now. Very unfair NATO. This is the messaging from the White House right now during this massive escalation as oil's what it's going to hit$150 a barrel soon. And you're attacking you're attacking NATO. Here, play this clip. You know, one of President Trump's guiding principles is fairness. And he has long called out NATO for what for being what he believes in unfair alliance for the American people, the American taxpayer and our U.S. armed forces. You look at some of the trade deals with our NATO allies. The president has worked to renegotiate and reset those to make them more fair for the American people and American workers.

6:49You look at the fact that the United States has thousands of troops on our allies in NATO's soil. We're paying these countries billions of dollars, and our troops on their soil serves as a deterrent for them. And the president wants the American taxpayer and our American military to be treated fairly. He feels sometimes with NATO they are not. And he's right to call that out, and he's right to call on them to step up and do more, especially when reopening the strait benefits them even more than it does the United States of America. There are troubles here at home as well. The Department of Homeland Security remains shut down and Mark Wayne Mullen has his hearing.

7:23We're going to hear from him.

7:23Ben Meiselas:More from Caroline Levitt right here. She says, rest assured, everybody, there is a plan. Here, play this clip. What is the plan to reopen Spanish? The president is going to continue to talk to our allies, both in Europe and also in the Gulf and Arab region. The United States military has a lot of capabilities, as you have seen play out over the last 18 days. And they still do have tricks up their sleeve. I won't broadcast them for the media, but rest assured, there is a plan. They're working on it. We have seen some progress with respect to that. But of course, the president, again, continues to call on our allies to step up and do more.

8:00Nancy.

8:01Ben Meiselas:Now we're hearing from Commodore Ali Raza Tangsiri, the commander of Iran's Islamic Revolutionary Guard Corps Navy. He just put out the following statement and he says, your presence on the streets has become our Trump card. And from now on, it will lead to new equations in the region with the target bank updated hashtag oil facilities associated with America are now on par with American bases and will come under fire with full force. We warn citizens and workers stay away from these facilities. There's a Senate hearing taking place right now with Tulsi Gabbard, the director of National Intelligence.

8:42Ben Meiselas:You'll recall Joe Kent, who is her number two, resigned based on his objection to the war in Iran. He resigned yesterday. Senator Warner just cross-examined Tulsi Gabbard about Donald Trump saying that he was shocked and surprised that Iran has been retaliating against its neighbors and shutting down the Strait of Hormuz, which everybody knew was going to happen. It should also be noted that the Trump regime, based on the advice, if you want to call it that, of Laura Loomer, also got rid of one of their top Iranian advisors as well in the past few weeks. But here's what Warner says to Gabbard.

9:27Ben Meiselas:So do you not tell Donald Trump these things? Because it's pretty obvious to everybody that what's going to happen with the Strait of Hormuz, what's going to happen with the neighboring Arab nations. And Tulsi Gabbard has just been having one of the worst hearings imaginable. I mean, because she's just a liar with everything. Here's what she says. Here, play this clip. He chose to admit the parts that contradict the president. The president continues to say as well that, you know, he had no idea, was shocked that the Iranians had moved to take over the Strait of Hormuz. Did you provide any intelligence that would say that it would be, that it was not likely that the Iranians would try to move on the Strait?

10:10I'm not aware of those remarks, and I think those of us here at the table can point to the fact that historically the Iranians have always threatened to leverage their control over the Strait of Hormuz. Why would the president say he was amazed? I'm not aware of those remarks. What about the comments the president made that thought that he was surprised again, reports that Iran struck the adjacent Gulf states. Again, I'm not aware of those remarks. We have been and continue to provide the intelligence. Did you brief the president? Did you brief the president? Did you brief the president if he starts a war of choice, that the likely result would be that Iran would strike adjacent Gulf nations and close the Strait of Vermeer?

10:52Did you brief him on those two facts that I think have been consistently the assumptions of the intelligence community? I have not and won't divulge internal conversations. I will say that those of us within the intelligence community continue to provide the president with all of the best objective intelligence available to inform his decisions. Senator, real quick, I need to tell you about one of my favorite sponsors, Smart Credit. Your credit score may have taken a big hit over the holidays, and you may not even know it. I know I didn't. Sure, a late payment hurts, but so does opening a store credit card just to get a discount.

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12:34Ben Meiselas:Now, folks, the economic data that's coming in is really bad as well. We got a really bad producer price index readout coming hotter than anybody expected. And that was the pre-war producer price index. So if this war wasn't going on and we got this PPI readout, we would be like, holy SH, you know what I'm going to say next. This is bad, bad. Now you layer it on top of the war when we get those PPI readouts and those inflation readouts, folks, I don't think it's an exaggeration that inflation will soon be going above 5%. And you can be like, oh, Ben, you're saying you're being hyperbolic again.

13:18Ben Meiselas:Watch. Inflation will be above 5%. I think clearly by the end of this year, perhaps even higher where things are going right now. But here's how they reported on CNBC the new horrible inflation data. Here, play this clip. What does that tell you? I mean, I understand the short term we're taking the Fed activity out from the two year, and that's why you see those spreads kind of get compressed. The long end, does that tell you anything about how people are seeing the health of the economy down the road or is it something else? I do think that there is part of that reflected in this as well. It's almost the worst of both worlds.

13:57I guess stagflation would come close to describing the situation. We're probably not going to see Fed easing and the long end. Well, part of it is weakness. We've had a spat of some fairly weak numbers. And then you put in the fact that we are on the PCE, you know, 3 % handle on some of the Fed's favorite metrics. as the Wall Street Journal pointed out today, it would be very difficult, even for some of the recent appointees, to think that easing could even be on the menu at this or even very close subsequent meetings down the road.

14:31Ben Meiselas:Here's what they were talking about on Fox. Here, play this clip. The Dow Industrial's down about 16 points. Again, we are waiting on the producer price index out any second here. Cheryl Cassoni with the number. Cheryl. These numbers are much hotter than expected, guys, for February PPI. month over month a seven tenths of a percent jump street was looking for a gain of three tenths of a percent year over year we came in three point four percent annualized basis the street was looking for two point nine percent that's the reading that we got the month prior so again hotter than expected we got five tenths of a percent for core month over month the street was looking for three tenths of a percent to the upside and then we came in core year over year 3.9 percent the street was looking for 3.7 percent there's and there's the markets are reflecting uh what we're seeing here as far as uh these numbers i'm going to get to the report i'm going to see what the government is saying here about where this rise was because it wasn't energy last month i can tell you that from a from a memory uh what they're saying here is okay so for final demand goods we saw an increase of 1.1 percent biggest rise we've seen since august of 23 three 40 percent of that is final demand goods 2.4 percent energy and final demand goods less food and energy also increased so that's where uh the story is here as far as these uh these numbers also they're talking about final demand services there was a 5.7 percent drop in prices for travel or accommodation services food alcohol wholesaling dealing investment advice all in this report i'm getting the rap signal maria but there's a lot to go through a lot to talk about in this well i think I think you're spot on there, Cheryl, because remember, in the month of February, services prices were going higher.

16:14And we've talked about that. Services prices were going higher. There were a handful of commodities like what? We were talking about gold. We were talking about silver. All of those things were going higher in February as well. Putting oil aside related to the war on Iran. Joel Schulman, your reaction to these numbers, and I should point out, we haven't seen such a significant impact on markets. Dow and Dow shows were negative going into it. It's still negative. Yeah, this is not good. We're going to see the markets off today. Your guest mentioned that he thought the rates would be dropped in December.

16:46I thought they'd be earlier. This is pushing things back at least a couple of months. So this is going to be negative for the markets. And we're going to see we're going to probably see the markets ticking down even further in the next couple of days. So this is not good news. And we know that the next couple of months we're going to see elevated prices because of energy. All right. We are an hour away from the opening bell and the Dow and Dow shows now down 105. Joel, good to see you. We'll be back with the.

17:10Ben Meiselas:Now, folks, during the St. Patrick's Day parade over in Ireland, they rolled out their Epstein float. You can see the Epstein float right there. The entire world mocking the United States for covering up a child sex trafficking ring here in the United States, which is what the Trump regime continues to do. And more news about that cover up coming from Jason Leopold, who is on the front lines, frankly, of reporting on Epstein files. Jason's been an incredible reporter over at Bloomberg. And he says, a document, a 69 page target profile prepared for the DEA by the Department of Justice's now defunct organized crime drug enforcement task force was released in January.

17:58Ben Meiselas:And it talks about the money laundering and drug trafficking schemes that Epstein used. It was a target profile, and this target profile has been blocked by Todd Blanche from the Department of Justice. Donald Trump's former criminal defense attorney is not allowing a 69-page target profile regarding the money laundering scheme. And the people who were helping Epstein with the money laundering alongside the sex trafficking and the drug cartels that they were involved in as well. There's a heavily redacted document and Blanche saying, uh-uh, that document doesn't get released. I'm going to do a whole other report on that, folks.

18:41Ben Meiselas:The cover-up continues. The cover-up of child sex trafficking ring continues here in the United States. And Donald Trump escalating things in Iran. The price of oil is surging. And you see what's happening right now with our economy. We'll keep reporting throughout the day. Now hit subscribe. Help us get to 7 million subscribers. And thank you all so much for watching the Midas Touch Network. You may think you're subscribed. Just double check and turn your notifications on. Thanks for watching, everybody.

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