[0–5.68] Last week, Treasury Secretary Besant said the U.S. economy is in the acceleration phase.
[5.68–9.12] And on Monday, President Trump showed us what that means.
[9.12–11.2] Today, we're thrilled to announce that
[11.2–15.28] Masabi metallics will be building the largest yield plant
[15.28–18.4] in American history in the great state of Ireland.
[18.4–21.52] It's the largest plant, one of the largest plants in the world,
[21.52–24.64] but it's the largest plant in America by far.
[24.64–29.44] But it's the first new iron ore mine in the United States in more than 50 years
[29.44–37.28] with the highest quality. Or, in other words, this deal will be mined, melted, and made right here
[37.28–42.8] at the USA, which is something very unusual. Two weeks earlier, Mark Carney, the man who has cast
[42.8–49.6] himself as globalism's champion against Donald Trump, convened the Canada Investment Summit in Toronto.
[50.32–56.08] The media framed both of these as investment stories. Well, they missed the point. One nation
[56.08–62.96] is restoring its economic sovereignty. The other is selling itself for parts. I'm Susan Coquinda
[62.96–68.8] and today I'm going to show you what Trump is building, what Carney is selling, and how that contrast
[68.8–74.88] plays out in people's lives. But before I do, please hit those like, share, and subscribe buttons.
[74.88–80.64] On Monday, President Trump held an Oval Office event to announce a historic investment.
[80.64–87.36] The Tony for this new project, which includes a newly opened Minnesota iron mine and the construction
[87.36–94.72] of a fully integrated steel plant in Iowa, will be $18 billion. The mine is the first iron or
[94.72–101.76] mine opened in 50 years and it will provide pellets for the first new integrated steel plant
[101.76–109.12] started in 60 years. The steel plant will employ 6,000 construction workers and almost 2,000 permanent
[109.12–114.56] workers when completed. Now I want you to pay careful attention to what these three people
[114.56–120.32] highlighted in their Oval Office remarks. Let's start with Commerce Secretary Howard Lutnik.
[120.32–128.56] So these are your 232 tariffs, the steel tariffs at work. Without those tariffs, this mine doesn't
[128.56–135.52] get built and this steel plant does not get built. Two and a half billion dollar iron or mine,
[135.52–138.12] and it does iron or pellets, right?
[138.12–139.72] And where do we get those pellets from now?
[139.72–142.4] We get them primarily from Brazil.
[142.4–145.2] So we are the holding to Brazil
[145.2–147.12] to build our steel in America
[147.12–150.08] because the input is coming from outside the country.
[150.08–154.32] So now we are unleashing the iron range in Minnesota,
[154.32–157.44] which is the greatest, as the chairman said,
[157.44–160.88] the greatest set of iron in the world
[160.88–162.16] is right here in America.
[162.16–164.04] That is one of the clearest examples
[164.04–170.44] can get of the how and the why of tariffs. Rather than being dependent on something as
[170.44–176.6] fundamental as iron ore pellets, to another country like Brazil, which isn't exactly friendly
[176.6–182.44] to us right now, tariffs created the conditions where we can now use the greatest deposit on
[182.44–189.08] earth right here. Then, export import bank Chairman John Giovanovic added this piece.
[189.08–194.44] The mine you mentioned is the first mine opened in America in 50 plus years focused on iron ore.
[194.44–199.88] XM financed it, and most importantly it's found on the iron range in America,
[199.88–205.4] which for 145 years has been the most prolific iron ore deposit in the world.
[205.4–209] It helped build America. It helped win two world wars.
[209–212.6] You're helping resurrected his president with the first iron ore mine.
[212.6–217.56] That is why this plant is possible because we are creating one American supply chain.
[217.56–222.44] Take a note of the role and the history of the XM bank in helping finance the mind.
[222.44–226.92] This is one of the many examples of the Trump administration using government credit
[226.92–231.32] to aid private capital in jump-starting important projects.
[231.32–237.16] And don't forget that the XM bank started as the Reconstruction Finance Corporation in the 1930s
[237.16–240.76] and played a critical role in the World War II mobilization.
[241.24–246.12] Then one of the project owners of Misabi metallics brought it all home.
[246.12–253.12] We will be producing the Patriot pellet very soon, which will be amongst the highest quality iron ore pellets in the world.
[253.12–261.12] With the new steel complex in Iowa, we will complete the fully integrated American supply chain from mine to mill.
[261.12–273.12] American ore, carried on American railroads, to an American steel plant powered by American energy, built and operated by incredibly hardworking and talented American workforce.
[273.12–279.4] Now, put all that together and you just got a crash course in the American system of economics.
[279.4–285.92] Teriffs to protect our producers from cheap foreign competition, government credit to ensure
[285.92–292.72] reasonable and stable financing, and the completion of a vital supply chain to undergird our
[292.72–298.72] economic sovereignty, and the result is thousands of good paying jobs in two states.
[298.72–299.72] But it does more than that.
[300–305.68] It awakens the spirit in the American people, which is just as important as the jobs themselves.
[305.68–310.72] And awakening that productive identity is vital as we head into the midterms.
[310.72–313.68] And that is part of Promethean Action's mission.
[313.68–317.76] So if you want to be part of that, subscribe to the Promethean Action Free newsletter,
[317.76–319.44] the link is in the description.
[319.44–322.4] And this is a mission we must complete.
[322.4–326.96] Because what is happening in Canada is what happens when a nation goes
[326.96–331.6] in the other direction. Start with what was just announced this morning.
[331.6–339.04] Stelco, a steel plant in Hamilton, Ontario, just announced that 350 to 500 jobs are going to be cut
[339.04–345.36] to, quote, ensure the survival unquote of the company. Stelco's own memo tells the story,
[345.36–352.56] demand for their products is dropped by 25%, including a 10% drop in Canadian demand.
[352.56–355.28] and Mark Carney's commitment to free trade,
[355.28–360.16] except currently with the US, still allows enough foreign steel in the domestic market
[360.16–366.16] that Stelco couldn't compete. Now, Carney is blaming the US and the trade war for this,
[366.16–371.84] but it was Carney who walked out of the August trade talks, which never made any sense economically.
[371.84–376.56] It only made sense as a political strike against President Trump.
[376.56–381.92] And White House trade advisor Peter Navarro just made that clear in an interview where he told
[381.92–389.2] Canadian officials to stop lobbying our country. He said, quote, memo to Canada, you cannot do that.
[389.84–396.08] That game is up. And if you interfere in our elections in Maine or Michigan, you will pay even
[396.08–401.92] more dearly. So while carrying out that political hit against the United States, Karni is also
[401.92–407.84] trying to position Canada as the leader of a new middle power alliance against the US.
[407.84–415.36] On September 15th, Carney convened the Canada Investment Summit in Toronto, and he boasted that it
[415.36–421.28] has laid the foundation for $500 billion in new investments. But even the Canadian press wasn't
[421.28–427.76] buying the arithmetic. This publication ran the numbers and concluded, Carney's $500 billion
[427.76–435.2] investment claim requires some generous math. But the dollar figure isn't the real story. It's
[435.2–441.2] the structure of the investments themselves. The first thing Karni put on the block was Canada's
[441.2–448.72] four largest airports. He's preparing to sell long-term concessions to run the airports to investors.
[448.72–453.6] What does that mean? A core piece of Canadian infrastructure will become a financial
[453.6–459.76] income stream for private investors. Then look at the rest of the projects that he announced.
[459.76–469.76] All of the 167 projects, 63 are mining and metals, that's almost 40%. Only 19 are manufacturing,
[469.76–477.76] and 11 of those are related to Carties Drive to turn Canada into a military production depot for NATO's wars.
[477.76–486.76] So only 8 out of 167 are related to non-military domestic manufacturing. That's the signature of a subject nation.
[486.76–492.8] Nation, produce next to nothing at home and ship your raw materials out to a world market.
[492.8–494.88] Karni calls it Canada strong.
[494.88–497.44] We call it the British system in action.
[497.44–504] Now, one of Karni's other selling points was Canada's fiscal discipline, which he defended
[504–505.48] in a very odd way.
[505.48–510.04] We're reducing annual growth and operating spending from over 8% that it averaged over
[510.04–514.74] the previous decade to less than 2%.
[514.74–516.94] This is not austerity as a fetish.
[516.94–522.7] Well, if you look at what is happening to the Canadian population, some might beg to differ
[522.7–529.18] on whether this is a fetish or not. And that's where the story turns dark. Let's look at Canada's
[529.18–537.18] official euthanasia program made, which stands for Medical Assistance in Dying. In 2024,
[537.18–544.18] 16,499 Canadians died by assisted suicide.
[544.18–551.18] That's 5.1% of all deaths, which is about one in 20 deaths in Canada.
[551.18–559.18] Since the program began in 2016, the total number of deaths is 76,475 human beings.
[559.18–566.18] And the number of people who were assisted into dying, who did not have terminal illness,
[566.18–569.82] jumped by 17% in a single year.
[569.82–571.78] Some of the reasons they were
[571.78–575.02] suicide lonelyness and isolation.
[575.02–576.5] Let that sink in.
[576.5–578.18] In October 2020,
[578.18–580.34] Canada's Parliamentary Budget Officer
[580.34–584.42] officially estimated the health care savings from
[584.42–586.46] expanding assisted debt,
[586.46–590.18] a government budget office putting a number on
[590.18–594.1] how much money they save when people die faster.
[594.1–595.22] Think about that.
[595.22–599.22] 80 years after Hitler, that was supposed to be unthinkable.
[599.22–600.22] But there was some...
[600–604.68] Some people who sat out, very deliberately, to make it thinkable again.
[604.68–607.36] One of them was Sir Julian Huxley.
[607.36–613.08] He was the first director general of UNESCO, and president of the British Eugenics Society
[613.08–616.28] from 1959 to 1962.
[616.28–622.56] Yes, the British Eugenics Society was still going, more than a decade after Hitler was defeated.
[622.56–629.36] And here's what Huxley wrote in 1946 as a founding guide for the UN's UNESCO.
[629.36–637.36] Thus, even though it is quite true that any radical eugenic policy will be for many years politically and psychologically impossible,
[637.36–643.36] it will be important for UNESCO to see that the eugenic problem is examined with the greatest care,
[643.36–652.36] and that the public mind is informed of the issues at stake, so that much that is now unthinkable may at least become thinkable.
[652.36–654.76] Well, it's thinkable again in Canada.
[654.76–657.96] And what other cause did Sir Julian Huxley adopt
[657.96–659.64] in the post-war period?
[659.64–660.88] Environmentalism.
[660.88–662.4] He was one of the original members
[662.4–664.88] of Prince Philip's World Wildlife Fund,
[664.88–667.16] the mother of the Green Movement,
[667.16–671.6] the same movement that Mark Carney has spent his career serving.
[671.6–673.24] Now come back to the United States,
[673.24–676.32] which was on a similar road for far too long
[676.32–678.88] before Donald Trump reversed course.
[678.88–681.16] At the Dallas Midterm Convention,
[681.16–687.32] HHS Secretary Robert F. Kennedy Jr. announced that a 50-year decline in life expectancy has
[687.32–690] just been reversed.
[690–691.96] And that's not just one number.
[691.96–697.7] There are fundamental structural changes taking place in American society, which show up
[697.7–699.76] in the new poverty numbers.
[699.76–704.96] Two weeks ago, the Census Bureau reported that the official U.S. poverty rate fell to 10.2
[704.96–705.96] percent.
[705.96–711] The lowest reading since the census started counting in 1959.
[711–716.44] And the other lowest reading ever recorded was in 2019 under Donald Trump.
[716.44–717.6] But that's not all.
[717.6–723] Both child poverty and Hispanic poverty fell to the lowest on record.
[723–731.02] And on the other side of the equation, the real median household income hit $87,460, the
[731.02–733.76] highest since 1967.
[733.76–735.88] But it's not just in the numbers.
[735.88–739.2] You can see it more in a change in spirit.
[739.2–743.48] For people are becoming optimistic and thinking about the future.
[743.48–749.08] To be honest, one of the last places I expected to see that was on Fox Business.
[749.08–752.58] But the optimism of this Fox reporter was tangible.
[752.58–756.68] I got to tell you, one of the reasons this is sort of breathtaking to me.
[756.68–757.68] I'm from Minnesota.
[757.68–762.4] When I was a kid, my parents took me to Iron World in the Massabi Range, okay?
[762.4–770.24] That part of Minnesota has just seen jobs decrease because minds close and they consolidate.
[770.24–776.6] So the fact that you've got a new mine opening there is almost inconceivable.
[776.6–782.12] That optimism is being driven by an administration, which is going to let nothing get in the way
[782.12–785.72] of its reassertion of American economic sovereignty.
[785.72–788.48] And it certainly isn't going to let Mark Carney get in the way.
[788.48–790.32] This has been your Wednesday update.
[790.32–791.16] Thanks for watching.