, which has just concluded, leading to a slight easing of traffic in midtown New York. Remy highlights that this UNGA marks the first since former President Trump’s cuts to aid, and it attracted global leaders for high-level talks.){kind=link}
“If Powell had any common sense, he would resign and walk out with his pride intact.” – 03:57
Patrick L. Young, Chairman and Founder of Exchange Invest, joins Remy Blaire to discuss the recent United Nations General Assembly (UNGA), which has just concluded, leading to a slight easing of traffic in midtown New York. Remy highlights that this UNGA marks the first since former President Trump’s cuts to aid, and it attracted global leaders for high-level talks.
Patrick shares his critical perspective on the UNGA, describing it as a gathering of self-important figures who ultimately achieve little. He notes that Trump’s appearance at the assembly drew attention, particularly due to his lengthy speech and the technical difficulties he faced, which he found particularly frustrating given the UN’s substantial budget. Patrick emphasizes that Trump’s critique of the UN’s execution reflects a broader skepticism about the organization’s ability to foster global peace.
The conversation then shifts to the ongoing war in Ukraine, where Trump has expressed confidence that Ukraine can reclaim lost territory. Patrick discusses Russia’s claims of having no ambitions to expand the conflict into Europe or NATO territories, suggesting that such statements are more about posturing than reality. He articulates the challenges the U.S. faces regarding military support for Ukraine, particularly in light of depleted stockpiles due to previous aid efforts.
Remy and Patrick also delve into monetary policy, focusing on Jerome Powell, the chair of the Federal Reserve, whose term is nearing its end. Patrick argues that Powell should consider resigning to maintain his dignity, given the ongoing criticism from Trump. He critiques the central banking system, pointing out the arrogance of central bankers and their failure to effectively manage inflation and support industry.
The segment concludes with a look ahead to a significant gathering in Washington, D.C., where the SEC and CFTC are convening a roundtable on regulatory harmonization. Remy and Patrick discuss the implications of this meeting, particularly the potential for merging the SEC and CFTC and the future of cryptocurrency regulation. Patrick highlights the importance of aligning regulatory efforts to move markets forward.