Bessent: Iran is COLLAPSING

O. FAR AND WE'VE GOT THE BEST IS. YET TO COME. GRIFF: IT SURE IS, LET'S GET TO. IT. THIS MORNING IRAN IS STILL. TRYING TO CAUSE TROUBLE IN THE. STRAIT OF HOHORMUZ AS WE LEARN E. TERROR REGIME REPORTEDLY STILL. HAS A LARGE BALLISTIC MISSILE. STOCKPILE. CHARLIE: TREASURY SECRETARY. SCOTT BESSENT OUTLINING A PLAN. TO CUT OFF IRAN'S ECONOMICIC. PIPELINE ONCE AND FOR A HE JOINS. US NOW.

LAY OUT THE PLAN FOR US. >> GOOD MORNING. GOOD TO BE WITH YOU. FOR A YEAR WE HAD A MAXIMUM. PRESSURE CAMPAIGN. NOW WE HAVE AN ABSOLUTE. ISOLATION CAMPAIGN AND THAT. ENTAILS CUTTING IRAN OFF FROM. THE OUTSIDE. RIGHT NOW, OVER THE PAST FEW. MONTHS, AS OF YESTERDAY THE. SCORE IS APPROXIMATELY. 1.2 BILLION BARRELS OF THE U.S., ZERO FOR IRAN. ZERO. IRAN NOW HAS NO OIL ON THE.

WATER. THEY HAVE NEGATIVE CASH FLOW. WE HAVE CUT THEM OFF. WE HAVE CUT OFF THEIR AIRLINE. SERVICE TO THE WORLD. IF THESE IRANIANS LOVE THEIR. COUNTRY, CONGRATULATION, YOU GET. TO STAY THERE AND THAT HITS THEE. ELITES. THEY CAN'T GO SEE THEIR. RELATIVES IN LONDON, GIRLFRIENDS. IN PARIS OR MONEY IN SWITZERLAND. THEY ARE CUT OFF FROM THE WORLD. WE ARE GOING TO CONTINUE THE. PRESSURE IN TERMS OF SEIZING. CRYPTO, IN TERMS OF MARITIME.

WE ARE INTERDICTING THEIR SHIPS. AND THEY DO NOT HAVE CONTROL OF. THE STRAIT. WHAT THEY ARE DOING IS EVERY. NIGHT THEY THROW UP SOME UABs. THEY'RE BLIND. THEY DON'T HAVE RADAR. AND OCCASIONALLY THEY WILL NICK. A SHIP BUT THE SHIPS ARE GOING. THROUGH. WE HAD A RECORD AMOUNT OF OIL GO. THROUGH AND PRODUCTS GO THROUGH. THE OTHER NIGHT SO WE'RE GETTING. HUNDREDS OF MILLIONS OF BARRELS.

OUT EVERY WEEK. GRIFF: SO MR. SECRETARY, LET ME. FOLLOW UP ON THAT. OBVIOUSLY, IRAN IS A ONE. COMMODITY ECONOMY AND IT IS. ENERGY AND IT SEEMS TO ME AND. IT'S REPORTEDLY THE IRGC. CONTROLS ABOUT 40% OF IRAN'S. ECONOMY. IS IT THE STRATEGY THAT. ULTIMATELY IF THE IRGC CONTROLS. 40% OF NOTHING IT'S NOTHING? >> LOOK, THEY'VE GOT A CHOICE. HERE. THEY CAN COME BACK, ENTER THE. INTERNATIONAL SYSTEM. THEY HAVE TO GIVE UP THEIR. NUCLEAR AMBITIONS, THEY HAVE TO.

STOP WITH THEIR TERROR PROXIES, THEY HAVE NO NAVY, THEY HAVE NO. AIR FORCE, WE SUBSTANTIALLY HE. DESTROYED MOST OF THEIR MISSILES. AND DRONES AND DESTROYED 85, 90%. OF THEIR ABILITY TO REGENERATE. THOSE AND WE ARE SEEING -- YOU. SAW ONE OF THE IRGC LEADERS LAST. WEEK SAY THAT THEY HAVING REAL. PROBLEMS. WORKERS ARE NOT SHOWING UP. THEY CANNOT ACCESS THE DOLLAR. MARKET SO WHAT THEY'RE DOING IS.

THEY'RE PRINTING CURRENCY, 18. MONTHS AGO THEIR CURRENCY WAS AT. 600,000 VERSUS THE DOLLAR. WHEN IT HIT 2.8 MILLION, IT IS. NOW AGAINST THE LAW TO PRINT THE. LEVEL OF THE CURRENCY BECAUSE. THEY DIDN'T WANT TO SEE HOW FAST. IT'S GOING. WE CLOSED THEIR BANKS AROUND THE. WORLD. THIS IS A FULL-THROATED ATTACK. ON THEIR ECONOMIC SYSTEM LIKE. HAS NEVER BEEN SEEN BEFORE. AND THE REAL THINGNG HERE HAS BN.

THE SEQUENCING. WE HAD SIX WEEKS OF KINETIC. WE TOOK OUT THEIR ABILITY TO. FIGHT BACK. WE HAVE THE BLOCKADE, PRESIDENT. TRUMP CALLS IT THE IRON WALL. NOTHING IS GETTING IN OR OUT AND. GETTING IN IS ALSO IMPORTANT TOO. BECAUSE THE IRANIAIAN SYSTEM ISO. CREEK CREAKY, COULD YOU IMAGINE. THE THIRD HIGHEST ENERGY AS NETS. THE WORLD BUT THEY IMPORT. GASOLINE SO NOW THEY HAVE THREE. TO FOUR HOUR GASOLINE LINES IN.

THE COUNTRY, NOTHING IS COMING. IN AND WE HAVE THEHEIR ECONOMIC. OUTCAST WHERE WE ISOLATED THEM. FROM THE REST OF THE WORLD. RACHEL: LET'S TALK ABOUT BEFORE. I MOVE ONTO THE NEXT SUBJECT, IS. IT YOUR BELIEF THAT ALL OF THE. ECONOMIC PRESSURE PLUS THE. MILITARY PRESSURE IS GOING TO. BRING THEM TO THE TABLE? ARE WE LOOKING AT A POTENTIAL. PEACE DEAL COMING IN THE FUTURE? OR IS IT THAT THE ADMINISTRATION. IS INTERESTED IN REGIME CHANGE? BECAUSE ONE OF THE THINGS THAT I. KNOW THAT YOU CARE ABOUT IS THE. TRUMP AGENDA AND A LOT OF PEOPLE.

ARE WORRIED THAT THIS WAR MIGHT. -- IF PRESIDENT TRUMP AND HIS. PEOPLE IN CONGRESS, REPUBLICANS. LOSE IN THE MIDTERMS, THAT THE. PRESIDENT'S AGENDA IS GOING TO. BE HURT SO WHAT IS THE END GOAL. HERE? IS IT A PEACE DEAL? DO YOU SEE IT COMING? OR DO YOU SEE MORE KINETIC. ENGAGEMENT? >> WELL, FOR RIGHT NOW AS THE. PRESIDENT SAID, HE DOESN'T. EXPECT KINETIC ENGAGEMENT UNTIL. AT LEAST AFTER THE MIDTERMS AND.

THAT'S A POINT. I WOULD THINK THAT TWO, THREE, FOUR MONTHS OF THIS BLOCKADE AND. I DON'T KNOW WHAT CRYING UNCLE. IS IN FARSI BUT THEY'RE GOING TO. BE CRYING UNCLE. THEY ARE COLLAPSING. THEY CAN'T PAY THEIR SOLDIERS. AND RACHEL, I DON'T KNOW HOW. THIS ENDS. YOU NEVER KNOW HOW THIS ENDS. THE BERLIN WALL JUST CAME DOWN. ONE DAY. WE DON'T KNOW WHETHER THE PEOPLE.

RISE UP, THE IRGC TURN ON 50E67. EACHOTHER OR THEY COME TO THEIR. SENSES AND WANT TO MAKE A DEAL, NOT TO HAVE A NUCLEAR PROGRAM. AND THEY HAVE TO MAKE A DEAL AND. THEY WANT TO KEEP IT SO IT COULD. BE ONE OF THOSE THREE OUTCOMES. CHARLIE: OF COURSE, PRESIDENT. TRUMP IS ALWAYS FEARLESS ABOUT. GOING INTO A SITUATION WHERE HE. DOESN'T NECESSARILY KNOW THE. END, WHAT THE OUTCOME IS GOING. TO BE. I WANT TO SWITCH GEARS AND ASK. YOU ABOUT THIS DECISION BY. PRESIDENT TRUMP TO EASE RUSSIAN. SANCTIONS TO GET MORE DIESEL. FUEL ONTHE MARKET.

OBVIOUSLY, THERE'S A LOT OF. REACTION TO THAT, A LOT OF. REACTION FROM EUROPE WHICH IS. KIND OF COME CALL BECAUSE THEY. OF COURSE HAVE BEEN BUYING. RUSSIAN OIL AND GAS FOR YEARS. NOW AND IT'S WITHOUT -- YOU'RE. GOING TO GET POLITICAL BLOWBACK. IN CONGRESS AND YOU'RE GOING TO. HAVE A LOT OF PEOPLE IN CONGRESS. SAYING YOU CAN'T DO THIS BECAUSE. OF THE LINDSEY GRAHAM BILL. HOW ARE YOU ALL GOING TO. NAVIGATE THAT PROBLEM? >> WELL, FIRST OF ALL, WE'RE. GOING TO DO IT WITH ALL THE.

LEGAL AUTHORITIES WE HAVE. SO ANYONE IN CONGRESS WHO SAYS. WHETHER IT'S AN OLD BILL OR THE. CURRENT LINDSEY GRAHAM BILL. PROHIBITS US FROM DOING IT IS. WRONG AND LOOK, PRESIDENT TRUMP, CAME INTO OFFICE WITH A MANDATE. TO WORK FOR THE AMERICAN PEOPLE. AND THIS IS GOOD FOR THE. AMERICAN PEOPLE. AND BRINGING THESE DIESEL PRICES. DOWN AND TO GO BACK TO IRAN, LET'S JUST BE CLEAR. THE BIGGEST LOSER HERE IS THE. IRANIAN REGIME.

BECAUSE THEY TRIED TO HAVE A. CHOKE POINT ON THE STRAIT OF. HORMUZ. THAT DIDN'T WORK. THEY TRIED TO HAVE A CHOKE POINT. ON DIESEL PRICES. NOW THAT'S NOT WORKING AND IT'S. JUST AS YOU SAID, THE EUROPEANS. HAVE GIVEN THE RUSSIANS MORE. MONEY SINCE THE START OF THIS. WAR THAN THEY HAVE GIVEN. UKRAINIANS BECAUSE THEY CANNOT. WEAN THEMSELVES OFF RUSSIAN. ENERGY. THEY HAD A FAILED ENERGY POLICY. AND VLADIMIR PUTIN, THEY. CONTINUE TO FUND HIM.

SO FOR THEM TO SAY THAT WE. CANNOT HAVE A RESPITE IN DIESEL. PRICING IS COMPLETELY. HYPOCRITICAL. GRIFF: MR. SECRETARY, LET ME. CHANGE GEARS FOR A MOMENT. BECAUSE I WONDER IF YOU THINK. YEARS DOWN THE ROAD THE HISTORY. BOOKS WILL LOOK TO YOUR. ADMINISTRATION AND SAY THAT ONE. OF THE GREATEST ACCOMPLISHMENTS. WAS ACTUALLY THE 70 MILLION. TRUMP ACCOUNTS FOR CHILDREN AND. WHAT IT WILL DO FOR THEM WHEN. THEY BECOME OF AGE. >> I COULDN'T AGREE MORE.

THIS IS A LEGACY ISSUE FOR THE. PRESIDENT AND WE WILL SEE IT IN. THE COMING YEARS AS THESE. CHILDREN TURN 18, THEY HAVE A. CHOICE WITH THE TRUMP ACCOUNTS. THEY CAN ROLL THEM INTO A MORE. STANDARD RETIREMENT ACCOUNT, LET. THAT ROLL UNTIL THEY'RE 60 OR 65. OR THEY CAN TAKE THE MONEY OUT. AND USE IT FOR EDUCATION TO. START A BUSINESS, AS A DOWN. PAYMENT ON A HOUSE.

AND 38% OF AMERICAN HOUSEHOLDS. HAVE NO EXPOSURE TO OUR GREAT. EQUITY MARKET AND PRESIDENT. TRUMP WANTS TO CREATE AN. OWNERSHIP SOCIETY. FOR CHILDREN BORN DURING HIS. TERM, U.S. TREASURY IS GOING TO. PUT $1,000 FEED INVESTMENT. COMING IN AND WE HAVE. CONTRIBUTIONS COMING FROM GREAT. PHILANTHROPISTS, SUSAN AND. MICHAEL DEL, $6.2 MILLION.

THEY HAVE $250 IN ACCOUNTS FROM. SUSAN AND MICHAEL DELL AND THIS. IS A REAL-TIME LEARNING. EXPERIENCE. WHAT WE'RE SEEING WITH THE DSA. CANDIDATES ARE PEOPLE WHO ARE. DISEN CHANTED WITH THE SYSTEM. IF YOU OWN A PIECE OF THE SIS. TOME, YOU DON'T WANT TO BRING IT. DOWN. GRIFF: THAT'S CALLED MAKING. GOOD NEWS HEADLINES THERE. RACHEL: IT'S GOOD WHEN ECONOMIC. LITERACY IS SOMETHING OUR. COUNTRY COULD GET BETTER AT AND. SPEAKING OF ECONOMIC LITERACY --. [LAUGHTER]. RACHEL: YOU SEEM TO BE WANTING. TO GIVE A LESSON.

MAYBE WE SHOULD OPEN A TRUMP. ACCOUNT FOR ELIZABETH WARREN. YOU SAY YOU WANT TO GIVE A. LESSON TO SENATOR ELIZABETH. WARREN ON ECONOMICS BECAUSE SHE. KEEPS WRITING YOU THESE LETTERS. REQUESTING INFORMATION ON THE. TEN YEAR TREASURY YIELD. WHY DON'T YOU BREAK DOWN WHAT. DOES YOUR NEW PEN PAL -- WHAT'S. GOING ON HERE. >> LOOK, SENATOR WARREN LOVES. TO WRITE LETTETERS, MORE THAN. WRITING THE LETTERS SHE LIKES TO. LEAK THEM TO THE PRESS THAT I. READ ABOUT THE LETTER ON.

BLOOMBERG AND POLITICO BEFORE WE. RECEIVE IT AND A LOT OF THESE. LETTERS ARE EMBARRASSING AND. RACHEL, AS YOU SAID, ECONOMICALLY ILLITERATE. I CAN'T REMEMBER WHETHER IT WAS. ONE, TWO, THREE, FOUR LETTERS. AGO SHE CONFUSED A CURRENCY SWAP. WITH A CURRENCY INTERVENTION. [LAUGHTER]. >> THEN SHE ACCUSED US OF DOING. A BOND MARKET INTERVENTION. WE'VE BEEN DOING IT SINCE 2024. AND THE SHOCKING THING -- THE. SHOCKING THING HERE, SHE IS THE.

RANKING MEMBER ON THE SENATE. BANKING COMMITTEE AND SHE IS ON. SENATE FINANCE. SO LIKE THIS LEVEL OF I'LL. ILLITERACY, WHETHER IT'S HER OR. HER STAFF, IT'S JUST WOEFUL. AND LOOK, I WISH HER HAPPY. INDIGENOUS PEOPLE'S DAY. [LAUGHTER]. >> AND TO HER AND HER FAMILY. [LAUGHTER]. >> GIVEN SOME OF THE PAST. CLAIMS SHE'S MADE. CHARLIE: MAYBE THE PROBLEM IS.

YOU KEEP TRYING TO EXCHANGE. LETTERS WITH HER AND YOU SHOULD. BE DOING SMOKE SIGNALS AND SHE. WOULD BE ABLE TO UNDERSTAND IT. >> THE OTHER SHOCKING THING, NOT A SINGLE -- THE LEGACY. MEDIA, THE OUTLET, HAS CALLED. HER OUT ON THIS. NO ONE HAS SAID LIKE WHAT IS. GOING ON IN THE SENIOR SENATOR. FROM MASSACHUSETTS' OFFICE. WHAT DO THEY DO ALL DISMAY DO. THEY SIT AROUND AND SIP HERBAL. TEA AND THINK ABOUT RAISING.

TAXES. RACHEL: OR SMOKE A TOBACCO. PIPE. GRIFF: EDWARD LAWRENCE BROKE. THE NEWS AND PUT OUT THE LETTER. THAT YOU SENT BACK WITH A. HANDWRITTEN PART THAT SAID HAPPY. INDIGENOUS PEOPLE'S DAY. HOW DID THIS GO DOWN, MR. SECRETARY. IS IT THEY GAVE YOU THE LETTER. AND THEY SAID I THINK WE'VE GOT. THE DRAFT YOU WANTED RIGHT OR. WAS IT HOLD ON, LET ME ADD. SOMETHING. >> WITH MY LETTERS I LIKE TO. ADD A HANDWRITTEN NOTE AT THE. END AND GIVEN WHAT I THINK. EVERYONE ON THIS SET CALLS.

COLUMBUS DAY --. [LAUGHTER]. >> LOOK, I'VE GOT HIGH CHEEK. BONES, ALL THREE OF YOU HAVE. HIGH CHEEK BONES. >. [LAUGHTER]. >> DOESN'T MAKE US INDIGENOUS. PEOPLE BUT THAT SOMEHOW BECAME. THE WARREN FAMILY LEGACY. CHARLIE: I LOVE THE FESTIVE. GREEN INK, THAT'S A REALLY NICE. TOUCH. >> IT'S TREASURY GREEN. RACHEL: YOU OFFERED TO GET HER. -- I THINK YOU SAID YOU WOULD. GET HER A BOOK ON FIXED INCOME. FOR DUMMIES. I THOUGHT THAT WAS VERY.

GENEROUS. WE'LL BE GENEROUS TOO AND SAY I. THINK YOU HAVE REALLY NICE CHE.