NEW YORK CITY – Sen. Bill Hagerty (R-Tenn.), a member of the Senate Banking and Foreign Affairs Committee and former U.S. Ambassador to Japan, appeared on FOX Business’ Morning with Maria yesterday to talk about yesterday’s BRICS summit, Biden・Discussed the Harris Summit. The administration’s weakness towards China and the stablecoin bill to establish a clear regulatory framework for the regulation and supervision of stablecoin issuers.
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partial transcription
Hagerty on the BRICS summit: “None of this would have happened without the huge leadership vacuum that exists today with America’s withdrawal from the international stage. And under President[Donald]Trump, , something like this would never have happened. As you said, they have now expanded BRICS to 32 countries. This will all be reintroduced after President Trump returns to office. It is interesting to note that UN Secretary General Gutierrez is scheduled to come to Russia for this event. Had the event been held elsewhere, Mr. Gutierrez would have been obligated to carry out the arrest warrant issued against Mr. Putin by his own International Criminal Court, with the active participation of these countries. , it’s shocking to me that Gutierrez himself would be involved in a situation where Iran would actually be included in this group.The only common bond is that America is not part of it, and they are. It seems like they want to push back. And the fact that the United Nations is also working on this is very shocking and disturbing to me, as it should be to all of us.”
Regarding China’s economic influence in the BRICS countries, Hagerty said: That’s another common bond here. China’s economic ties and influence with these countries through the Belt and Road Initiative, and the fact that they buy oil from Iran and Russia. That’s another bond these people have in common. But if you think about how the Harris administration will react, consider what they did with the reconnaissance balloons they allowed to fly over all of the United States. And then they just send four ministers to beat the crap out of them and beg them to come to San Francisco for a meeting, and I’m very worried. Americans should be deeply concerned about what will happen and whether Kamala Harris will be put in a position to stand up to Mr. Xi. I was with President Trump when he met with President Xi. Mr. Xi respects Mr. Trump. President Trump will restore respect and order to this type of relationship. I can’t imagine how Kamala Harris would handle that kind of pressure. ”
“This is exactly why President Trump said we have to drain the swamp. This is just one example of a revolving door,” Hagerty said of President Obama’s former inspector general who sued the Pentagon on behalf of Chinese companies. And in fact, the first time DJI was cited was in 2017, when President Trump was in office, and the Army put them down, but under the Trump administration, Loretta Lynch filed a lawsuit. No way. But again, they’re trying to cram everything they can into the last days and waning days of this administration. Who are they working for? We need to, because all of the foreign policies that Biden and Harris have been pushing are basically making China the net winner (…) since 2018. This situation continues because Chinese companies that collect data anywhere in the world can use that data for Chinese intelligence if requested. We need to open up to the institutions, and we have to. So, of course, that’s what we mean. That’s the vulnerability we saw during the Trump administration. Loretta Lynch brought it back and these Chinese companies. It seems unconscionable that she would want to have access to the most sensitive data that the US military would ever collect (…) Barack Obama’s top law enforcement official. A former attorney general, a public official, is the one defending this attempt to remove the Chinese company from this list, even though she knows of its exposure and the national security risk it poses to America. It’s shocking.”
Hagerty said of the stablecoin bill to establish a clear regulatory framework: “As you mentioned, this builds on some great work that has been done in the House of Representatives. But this effect actually goes back to the beginning of the story that you and I talked about: Vladimir Putin and these BRICS countries working to circumvent the United States as the world’s reserve currency. This would actually strengthen its position as a reserve currency. It would increase the demand for US Treasuries as well as stablecoins on a global scale. We need a proper regulatory framework here in America, we need legal certainty, and the Biden and Harris administrations have done everything they can to destroy that kind of legal certainty. This will begin to chip away at the Democratic Party’s war on cryptocurrencies and put us back in the driver’s seat in terms of maintaining the reserve currency status that the dollar has enjoyed and should continue to enjoy. (…) The premise is very clear: the bill will be passed and the time will be ripe for the inauguration of the new government.”
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