Ep 3930a - Regime Change At The Fed Has Begun, Warsh Makes The First Move

[00:00:11][music] >> Hi and welcome. You're listening to the X22 Report. My name is Dave and this is episode 3,930 and today's date is June 18th, 2026 and the title of the episode is regime change at the Fed has begun. Warsh makes the first move. Hey, you know what's interesting? New research confirms that millions of people have quietly suspected your body's natural GLP-1 production declines with age and it starts earlier than most people think.

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[00:02:45]But once again, you can see what Kevin Warsh is doing. He's slowly but surely having regime change within the Fed.

[00:02:51]He's slowly but surely removing what they put in the place to push back on Trump's policies.

[00:03:00]What he's doing right now is he's preparing the Fed to be restructured into the Treasury and removing the power that they once had, slowly but surely. Now, of course, the fake news is out there putting out their articles trying to convince the world that there's going to be rate hikes. Now, they're doing this on purpose. Why? Because again, if people believe there's going to be a rate hike, they're preparing for something completely different that's really with with what's really going on.

[00:03:28]And it also hurts the economy because if the rates go up, what happens to the housing industry? What happens to the automobile manufacturing? What happens to businesses? What happens to the car dealerships?

[00:03:39]What happens to people who have credit cards?

[00:03:41]Everything starts to fall apart. This is why they're pushing it, but what they don't understand is that Kevin Warsh is going to be doing the opposite. And he's already signaled that's exactly what he's doing. Now, before we get to that, we can see that Joe Biden is actually admitting that he was dis- he was destroying the oil industry and actually ushering in the Green New Scam, and he actually admits this. The RNC Research put the sound said, "Sleepy Joe brags about killing the oil industry. The other thing I was able to do," he said, "I made sure there'd be could be no oil drilling off the East Coast, the West Coast, and 150 mi off the Gulf of America, which is actually the Gulf of America." And you can see that his plan was to shut everything down. And this has been their plan for a very long time because they were trying to move us into a new system, but that has now all ended, and that is not happening. And you can see what Trump is doing right now. He's making this country completely and utterly energy independent, and we're going to be the top exporter of oil across the globe. Plus, he's removing the fear from the Strait of Hormuz. That's what this was all about.

[00:04:43]Yes, there's many different agendas, of course, getting the uranium and things like that, but one of the major things was removing the fear that was going on in the Strait of Hormuz, which actually controlled the oil prices around the world. And once that is removed, oil prices are no longer then controlled by this one location.

[00:05:01]And you're going to see a lot of competitive markets start to really come online, and you're going to see the oil prices completely and utterly change.

[00:05:08]Actually, we're already starting to see them change, and it's happening very, very quickly. Plus, you can see the world that the deep state players have set up, and remember what they did. They removed the manufacturing plants technology out of this country into other countries. So, again, those companies can produce those those items very, very cheaply. Plus, it removed our technology, it removes our manufacturing base, it actually weakens the country.

[00:05:33]And what Trump is doing right now, he's bringing all this back. He's bringing the manufacturing back. He's bringing the chip making back. He's bringing the technology back. He's bringing the investment back. He's bringing everything back to this country because, again, he's changing the entire structure of the world, the central bank world, the deep state world. That is what he's doing. And you can see with Taiwan right now, you can see that everything that was in Taiwan is going to be moving back here into this country. He put this out on Truth. He said the following, "The technology the world relies on was invented in America. We all remember Intel inside. Stupid presidents took our economy for granted and let Taiwan and others steal our semiconductor factories. They forgot to protect our industries with tariffs. When I won my second term, third actually, it was clear America needed its semiconductor industry to come back to the USA. We designed everything, but we need to build it here now.

[00:06:24]So, I decided to help Intel because we need to design and build our chips right here in America first.

[00:06:30]We helped bring in Nvidia and they agreed to build their first-level chips with Intel. Next, Elon agreed to build the Terafab, the largest chip factory in the world, designed together with Intel's technology team. And finally, Apple has agreed to work with Intel to design and build its chips in America.

[00:06:47]We decided to help Intel in exchange for 10% of their shares. Is that too much or too little? They were worth around $100 billion when we made our offer. Now they're worth over $600 billion.

[00:06:59]9 months and they've increased in value over half a trillion dollars. America's stake is now over $60 billion. When was the last time a president made America money? Thank you for your attention to this matter. President DJT. And you can see everything that they did and everything that they tried to do and tried to push it out of this country and into other countries because again, you can't have the manufacturing base in this country if the value of the currency is continually declining.

[00:07:26]And sell those items in this country because people would recognize that there's something wrong with the system. Why am I paying so much money? So, if all the manufacturers stayed in this country and they weren't shipped overseas where they were actually paying people pennies on the dollar. Actually, they have slave labor over there. And if that didn't happen and they kept everything here, people would realize, "Wait a minute. My money doesn't really go that far. I can't afford these things. It's just way too expensive."

[00:07:54]And that's why they had to move most of this out of this country. Now, certain things they couldn't move out of this country because it's not possible. And what they had to do was they had to bring in cheap labor into this country to keep their system operational. Now, if you're under a central banking system, this is what you have to do. Trump doesn't need these people because he's removing the central bank system and bringing us into a system that brings in income. Very, very different. Because again, with the central bank system, the value of the currency continually declines. And it just doesn't stop. It's cumulative. You just can't get rid of it. With an income-based system, it's completely opposite. You're not creating the currency. You're not putting more currency into circulation. The currency already exists. So, there's no inflation whatsoever. You get all your buying power back. And the central bank doesn't have to take your hard-earned money.

[00:08:44]This is what Trump is doing. This is why he's setting all these things up.

[00:08:49]And you can see the investment coming back into this country is tremendous.

[00:08:53]Trump put this out on Truth and this is coming from Ambassador Sergey Gore.

[00:08:58]Under President Trump's leadership, investment is flowing back into the United States at record levels. Indian companies plan to invest over 20.5 billion in various sectors including tech, manufacturing, and pharmaceuticals. This includes the 12 Indian companies who announced 1.1 billion investments just today. These partnerships are creating real American jobs and building stronger supply chains. Proof that when the world's largest democracies do business together, everyone wins. And that is absolutely true and this is why Trump is doing all of this. For years, everything's been moved out of this country and now Trump is bringing it all back. And like we said in the very, very beginning, the Federal Reserve is about to completely and utterly change because once again, you can see out of the Wall Street Journal and CNN many of the other CNS CNBC and all the rest, you can see they're pushing the idea that there's going to be rate hikes. Now again, this is what the Fed was planning to do.

[00:09:51]Remember, they Trump went into Iran, oil prices went up, gas prices went up. That was gas inflation, energy inflation. Now everything is being reversed. So they're still on course to raise the rates. And even if Hey, you know what's interesting? If you're like me and you're getting to the age when you're tired all the time, bloated after every meal, and no matter water seems to help, then listen up.

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[00:12:39]What the fake news is trying to do is they're trying to convince everyone that rates are going to go up. Why? Because they're trying to damage the economy.

[00:12:47]Geiger Capital put this out and said, "Odds of rate hike this year spiking."

[00:12:51]Markets think Kevin Warsh is a hawk.

[00:12:55]So, right now, the Polly market and the propaganda news outlets, they're putting it out that yes, we're going to see a rate hike. Now, again, why are they doing this?

[00:13:07]Because they are looking at the plot graph.

[00:13:13]This is what the Fed has used in the past. And what Kevin Warsh is doing right now, he's basically dismantling the plot graph.

[00:13:22]So, every Kevin Warsh says everything is up for review.

[00:13:27]There's a task force for pretty much everything.

[00:13:30]And dot plot most likely will be going away.

[00:13:34]So, Warsh, this time around, did not submit his own projections. So, there were only 18 dots for the 19 participants. The dot plot is part of a summary economic projection, which the Fed releases four times per year.

[00:13:47]And the meeting was one of the four.

[00:13:50]The SEP is one of the ways with which the Fed communicates to the public what it thoughts are about the future of the economy, the labor market, inflation, monetary policy, all of which are part of the Fed's forward guidance.

[00:14:05]And Warsh has criticized all of this.

[00:14:08]And you could see at this point in time, he's not going along with it. Now, if you look at the 18 dots, it says one sees three hikes, five see two hikes, three see one hike, eight see no change, one sees a cut.

[00:14:23]So, basically, this is what the fake news is picking up. They're saying, "Hey, look.

[00:14:28]Everyone's looking at a rate hike right now, and they're putting that out there."

[00:14:32]What they're missing is what Kevin Warsh is actually doing right now. He's taken the clear first steps to weaken it and phase it out or overhaul it as part of a broader regime change in Fed communications.

[00:14:47]So, he personally skips submitting a dot. The summary of the economic projections normally includes 19 individuals. There's only 18.

[00:14:55]He says, "I did not submit a dot for me.

[00:14:58]It's not helpful in the conduct of policy.

[00:15:01]I, however, refrain from offering any projections of my own, consistent with my long-held views on the SEP at least as it's currently structured."

[00:15:09]He dropped forward guidance entirely from the FOMC statement, shortened it dramatically, and removed any language hinting at future rate moves.

[00:15:19]He announced a task force to review the Fed's communication practice.

[00:15:23]So, the dot plot right now it looks like he's about to remove this or change it in a a different way. So, this is the beginning phase. You're not going to go in there and say, "Hey, listen.

[00:15:34]We're going to revamp everything that the Fed has been doing."

[00:15:37]You have to do this slowly but surely and you have to do it methodically over a period of time and this is what he's planning to do.

[00:15:43]And I do believe what's going to happen is he's going to look at the economy, look at the inflation because you have to remember we're still dealing with a private Western Bank illusionary economy. So, he has to play within this realm and he's going to be looking at the inflation. Was there real inflation?

[00:16:01]What was really happening during this period of time? Is inflation held steady? Was it just a shock that's now going away? That is what he's going to look at. So, I do believe what's going to happen is that all these financial pundits, the economists, and everyone else they're going to be wrong as we approach the midterms. Now, of course, what do they want? They're pushing the idea that there's going to be rate hikes because again, as we approach the midterms, they don't want the economy to improve. Now, I think what's going to happen as we get closer to the midterms, you're going to see oil prices come way, way down, which means gas prices are going to come way, way down, which means inflation's going to level off. Now, it doesn't mean the inflation that we've had since 1971 is just going to go away. It's going to stay here.

[00:16:45]What it means is people are going to get buying power back because fuel will be a lot less, which means deliveries will be at a lower cost. Production will be at a lower cost.

[00:16:56]And this is going to assist the economy in showing everyone that inflation's under control, which I do believe Kevin Warsh is going to look at and say, "You know something? Let's lower the rate. It looks like it was just an energy shock."

[00:17:09]Now, this is something the deep state, the central bankers they don't want this to happen, especially the Ds, but it is going to happen. And you could see that the national average price of gasoline has dropped below $4 already. And this is coming from AAA.

[00:17:24]So, pump prices have been falling for four straight weeks. And now the average price is below $4. $3.99.

[00:17:32]Now, some places it's even cheaper than that. Some places are $3.69. Some places are $3.59. Some places $3.89. But you could see we're snapping back to where we were. And it didn't take that long whatsoever. Now, I do believe as time goes on and Iran meets the MOU steps, I do believe what's going to happen is you're going to see that oil is going to come even further down. It's going to decline rapidly. Because one of them is the opening of the Strait of Hormuz.

[00:18:00]There's no tolls. No one's controlling it. It's completely open. Russia agrees with this. China agrees with this. The Middle Eastern countries agree with this. The world agrees with this. Trump got the world on board with this because that's what this is all about. It's about taking control of energy. And the only way you can take control of energy is to decentralize the energy. To make it where it's not controlled by fear anymore. And that's exactly what Trump has done. So, but you you can expect all of this start to drop. Now, of course, gold, Bitcoin, and everything, they're either moving up a little bit, coming down a little bit cuz again, there are mixed messages at this point in time.

[00:18:33]And this is to be expected.

[00:18:35]Because again, you have to remember the fake news is pushing rate hikes.

[00:18:39]They're convincing everyone that there's going to be one.

[00:18:42]In the meantime, Trump is going to be saying, "Look. Look at the economy.

[00:18:46]Look at the oil prices." A lot of people don't believe that this trade is going to be open. They don't believe that Trump has control of the situation. But that's all going to change as we get closer and closer to the midterms. And you're going to start to see that as oil continually drops in the Strait of Hormuz and ships sail through with absolutely no problem whatsoever.

[00:19:03]There's no toll. There's no fear.

[00:19:05]There's no missiles. There's no navy.

[00:19:07]There's no small boat boats riding up against these ships. You're going to see all of a sudden gold and Bitcoin, they're going to start to change directions. And you're going to see them start to move up. You're going to see oil start to move down dramatically. And I think we're already starting to be see the beginning stages of all of this. Trump, he put this out on truth. He said the following, "Oil is flowing. Iran can never have a nuclear weapon. The world will be safe.

[00:19:32]The stock markets are roaring. Jobs are at record and prices are dropping.

[00:19:36]Affordability. Our country is strong, safe, and res- respected like never before. You're welcome, President DJT."

[00:19:43]And this is what the fake news that the E's have been pushing for a very long time. They're saying, "Oh, the economy's not affordable. People are hurting. Gas prices are too high. This is a problem.

[00:19:52]There's no way to fix it. Trump is the cause of all this." Well, now everything's reversing. So, who has the narrative on affordability? Trump does.

[00:20:01]He just took it away from them. And it didn't take that long. And it's going to His message is going to get better and better as we go along. Because what's going to happen? Things are going to become more affordable. Now, once again, the inflation that you experienced under Biden doesn't go away. Under all the other presidents, it doesn't go away. Because once again, it's cumulative. What he's going to do, he's going to counter the existing inflation with giving you money back in your pockets. This is what lower fuel prices do. When he removes the taxes, that's also what it does. When he lowers the interest rates, also that gives you money back in your pockets. So, every step of the way he can mitigate the inflation that the Federal Reserve, the deep state players, the E's have caused over a long period of time. And the way he can do this is by doing all those different types of methods, which I do believe he's going to do. And you're going to feel like, "Wow, it feels like the inflation went away." But really what's happening, he's just giving your buying power back because he was he's removing everything the D's, the central bankers, the rhinos put in the place to keep taxing you.

[00:21:08]And once you receive a dividend, that's also going to give you your buying power back. Now, I'm not saying all these things are going to happen all at once tomorrow, but as we move closer to the midterms and even after the midterms, you're going to see this continually happening. And the first stage of this is lowering fuel prices cuz that's going to lower cost of pretty much almost everything.

[00:21:30]And when Kevin Warsh comes out and lowers the interest rates, this is also going to assist in all of this. And you're going to see things completely and utterly change. And Trump has set up set this up perfectly, and you can see the deep state players, the central bankers, they're all spinning. They don't know what to do at this point. And this is all they have left is to convince you that there's going to be rate hikes. And I think what's going to happen as we move closer to the midterms, you're going to start to realize that, hey, the probability of rate hikes is going to decline.

[00:22:03]And eventually, you're going to see more people saying, "You know what? The way the economy's looking, it's looking more like there's going to be a rate cut."

[00:22:11]And you're going to see everything start to switch.

[00:22:14]And Trump then is going to have control of what is going on going into the midterms. Cuz that's what this is all about. Because you have to remember, we need to complete the plan. The The plan is to remove or restructure the Federal Reserve to take control over our economic destiny. And this is what Trump is doing right now. And you can see the regime change in the Fed has already begun. And most of these people are going to be wrong about forecasting what is coming next.

[00:22:41]Listen, everyone. Thanks a lot for listening. Be well, be safe, and especially be prepared. Thanks a lot.

[00:23:28]>> Mhm.