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tv   Varney Company  FOX Business  March 11, 2024 11:00am-12:00pm EDT

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packs portioned for your dog. it's amazing what real food can do. >> bitcoin which is the cat with nine lives has shown that it can beat every attack. i have called it the freddy kruger of financial assets because it can't be killed. google for all of its great things is really nothing more than involved in search. it is a one trick pony. ai has eaten its bacon. >> a month or so ago when he first told sean hannity that his revenge for him would be his success. he stuck with that statement. if you want to bring the nikki
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haley supporters back into the fold of donald trump camp, that's the way you do it. >> i think the tide is now turning. i think that beautiful young lady in georgia, laken has awakened some people. now we have three years of historic illegal immigration. ♪ ♪ >> stuart: oh i remember this one from the 60's early 70's, i will be there. i'm not sure what the relevance of that is to the news of the day. nonetheless, i like the song and i do like the picture. that statue of liberty right there in the new york harbor. it is a wonderful day. see the white caps? ? very windy today.
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11:01 on this monday, march 11th. check the markets, not that bad. dow is down 100. nasdaq down 12. s&p down 9 points. big tech all over the place today. we do have a couple of winners, alphabet and apple, microsoft, amazon, meta, look at meta, down 3.3 percent. that's a drop. ten year treasury yield still just above the 4 percent level. moving up this morning to 4.10. got it. this just coming at us. a new york fed survey shows people, people -- >> americans. >> stuart: americans, you and i, expect to see inflation higher for longer. tell me more. >> i guess we're getting used to it; right? see inflation five years out at 2.9 percent. >> stuart: how do they know? >> it is what people say, but it is the fact -- >> stuart: is that a reliable indicator, what people say? >> i think we should take it up with the new york federal reserve board who puts out these consumer expectations
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periodically. and then their earnings growth in one year, remained unchanged. here we go. at 2.8 percent. flip it over. let me have the boards catch up to me. there we go. one year ahead, left side, 2.8 percent. this is the one that troubled me. this is household finances. flip the board. income 3.1 percent, but spending, look at that, growing by 5.2 percent. we're spending more than we're making. and these consumers also say that credit access is tightening compared to a year ago. >> stuart: can i just bring in jason katz on this? >> you look perplexed. >> stuart: i am. why do i care what ordinary folks think what is going to be the inflation rate five years down the road? >> jason? >> the longer inflation remains elevated the more it gets ingrained in our psyche. the perception amongst consumers it will stay higher for longer. >> stuart: that's a good explanation. i'm wrong. i take it all back.
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i want to talk to you about bitcoin. $72,000 a coin today. where does it go from here? why this sudden attraction of bitcoin moving up like this? >> it's economics 101. something is worth as much as someone is willing to pay for it. it is supply and demand. you have the having. you have the proliferation of all these products that retail investors can now have access to. you have the acceptance amongst the institutional community. so it's definitively here to stay. i referred to it earlier offset with you as it being digital gold. the fact of the matter is that this is not a currency. this is an asset that's here to stay. but think about this logically. you wouldn't go into the coffee shop and buy a bagel and a cup of coffee with a piece of your real estate; right? you know, so you're not going to do the same when it comes to your crypto, but crypto, i think is basically like an escalator that goes up slowly, but when it comes down, it goes down like an elevator, so what it is is a
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risk asset, closely tethered to momentum stocks. when we get that first correction, stu, i would expect that correction in bitcoin. the first correction in equities, that is. >> stuart: okay, what about gold? that's nearly $2,200 an ounce, all-time high. why i is that up so much? in tandem with bitcoin. >> you know, it's a hedge in times of adversity. the view on the dollar is quite bearish, but you and i have been talking about this on set, and we are in agreement that gold is a great investment. here we are from the october lows up 19 percent. up 7 percent this month alone in gold. so there's no short of adversity out there, whether it's a contentious election, whether it's geopolitics, whether it's the unsustainable deficits that we have, so as a result of this, both gold and crypto are like, you know, tethered. they're at the hip with one another, and i expect them in the long run to perhaps trend higher as long as these problems still persist, but i would expect a correction in the short run in both. >> stuart: got it.
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jason katz, thank you very much indeed. lauren's back. we have to look at some movers including boeing, 192 on boeing. >> two pieces of news today, at least 50 people on a flight from australia were injured after they're calling it a technical problem that caused, quote, a strong movement on the boeing dreamliner that they were flying. 50 hurt. several of them in the hospital. and then you have the "wall street journal" reporting of this department of justice criminal investigation. >> stuart: criminal the important word. >> criminal investigation for that alaska airlines 737 max when the door blew out at 16,000 feet. >> stuart: 192 on boeing, down 3 percent. nike? >> so up arrow, they're named a top pick, up 2 percent. guggenheim like their jordan brand calling it a significant growth avenue for the dow stock. they reiterated their buy, $130 price target. >> stuart: disney is up this morning. what does spring break have to do with them? >> people are going to walt disney world. >> stuart: can they afford it?
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>> on credit. they have the genie plus, it is a pass that lets you skip to the top of the line, among other things. it is $35, and it's sold out. >> stuart: okay. thank you, lauren. and now this: on thursday, during his state of the union message, the president referred to the migrant who allegedly killed laken ri leigh as illegal. -- on riley as illegal. he apologized for using that word. he didn't apologize to her parents, no. a young woman is murdered and the president of the united states apologizes for using what the left thinks is the wrong word to describe the alleged killer. he says quote he won't treat any of these people with disrespect end quote. seems like the world has turned upside down, doesn't it? it gets worse. in that interview with msnbc referring to migrants he said quote they built the country. that is nonsense. the millions of illegals did not
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build this country. millions of legal immigrants did help build this country. biden is deliberately confusing the two. if millions of illegals are building the country, as he suggests, then his open border is a wonderful thing, keep them coming. he is appeasing the left. they can't stand the idea that migrants are illegal and shouldn't be here. and when they object, biden brings his language into line and apologizing for saying that dreadful word illegal. what was donald trump doing? he was meeting with riley's family and promising to build a wall and end the invasion. he called the alleged killer a monster. we are fortunate to have sandra smith with us this morning from fox news sitting in right here in new york city. >> happy to be here. thanks for having me. >> stuart: it seems to me the world has turned upside down. >> this was a tough one. i came off the air with dana perino up stairs anchoring america's newsroom. we were having this discussion from a messaging perspective. all the president had to do was come out and say to the family
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i'm sorry for mispronouncing your daughter's name. i can imagine what a difficult time this is for you, and that issue would have gone away with mispronouncing her name in the state of the union. he doesn't do that. now this characterization sort of debate we're having while this family is deeply grieving. it is insulting and hurtful. i go back to the fox news voter analysis from all these primaries that we have had through the election season, and you realize why immigration over and over again was the top issue for american voters and very well may be all the way into the general election. people don't like what's happening right now. they don't like how it is getting worse. they don't like seeing young girls like this killed on a college campus and a president that won't immediately meet with that family and say i'm going to work so hard so this never happens again. this person who killed her should not have been here. even said the president in that interview over the weekend. we need to do something about this as a country, and it's going to become a bigger and bigger political headache for president biden in his
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reelection bid. >> stuart: change the subject because you will be dealing with this. the special counsel is going to testify to the house judiciary committee tomorrow. he will be answering questions about his investigation into the president's handling of classified documents. now, it's possible that in that testimony, we're going to hear about the interviews that he did with then vice president biden, which show that he was an elderly guy, well-intentioned, but declining faculties. that's going to be a really big deal if he comes out with that. into -- >> you are putting it politely. the words that actually described the findings from that interview. his memory is hazy and poor, fuzzy and faulty, has significant limitations, so while he did not bring any criminal charges based on all of this, and he said the facts stop short of finding he willfully retained the classified material, he did offer a very damaging view of the president's mental acuity, and that is a big
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problem just months from an election. >> stuart: we haven't seen the tapes of the interviews or transcripts. >> republicans have been asking. >> stuart: tomorrow he's on the stand in front of congress. he will be asked this surely. >> surely, and you can make the point that the american people deserve more answers. they should see the transcript. why not? but they have not turned that over, but i can tell you, you should watch because it will be probably during our hour on america reports 1:00 to 3:00 p.m. i miss you stuart good to see you. lauren good to see you as well. >> stuart: don't miss getting up early in the morning. >> some of the best times in my life, stuart. >> stuart: you're wildly successful. good to see you. we will be watching you today, america reports 1:00 p.m. eastern on fox news. coming up, a new bill in new york would give $2600 cash to inmates after they leave prison. lawmakers say it will help them get back on their feet. we're going to report on that. no surprise. biden wants a 25 percent tax on
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billionaires. that's a wealth tax by any other name in my opinion unconstitutional. steve forbes fired up about it, though. steve is next. ♪ ♪ okay y'all we got ten orders coming in... big orders! starting a business is never easy, but starting it eight months pregnant... that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card. make more of what's yours.
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>> stuart: the white house is boasting about a great american comeback, despite fewer americans working now than before the pandemic. we have more on this one. why are people staying home and not working? >> so what we're seeing is that more people are working part time, even though they want full-time jobs. we're also seeing more foreign workers getting into the labor force. so a lot of changes. top line, the report friday
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looked really good. the unemployment rate rose slightly, though, to 3.9 percent, while the economy added 275,000 jobs, well above expectations. sounds like a wash, but peeling back the layers, you see the jobs market is weakening. the government revised its december and january job creation numbers by 167,000. in fact, ten of the last twelve months have seen downward revisions in their jobs numbers. numbers are always moving. moreover, labor force participation, a critical member of the portion of the american workforce employed continues flat for the third month in a row, well below pre-pandemic levels. back in 2020, that rate was 63.3. fewer americans are working now than they did before covid. part-time workers are increasing, up 51,000 since january to nearly 28 million of us. these are people who wanted full-time jobs but worked part time because their hours were reduced or they couldn't get full-time gigs.
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meanwhile, 8.3 million people are holding multiple jobs. take a look at that. and as we move through these, a year ago, 29.5 million as you see right there. meanwhile, an uptick in foreign born workers from 29.5 million last year to 31 million this year means fewer native born workers are in the job market. bottom line, it looks like that gangbuster job growth we saw in january is cooling. you can describe this market as not hot. >> stuart: i would describe it as not hot, well said, thank you. >> you are welcome. >> stuart: president biden has attacked billionaires for not paying their fair share. where have i heard that before? former trump economic advisor and vice chair of ibm says that's not true. roll tape. >> actually look at who pay taxes in this country, the bottom 50 percent of earners in the united states pay 2.3 percent of tax collected. and the top 10 percent pays over 70 percent of tax collected in this country. you could be a billionaire and
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have no taxable income. you could not have a billion dollars and have a high taxable income. there's no income in this country unless you buy a tax-free bond that doesn't get taxed at a minimum of 20 percent, whether it's interest or dividends or capital gains. so there's no billionaire in this country that has income that is not paying at least 20 percent. >> stuart: straightened it out well done. steve forbes with me. 25 percent tax on billionaires, that's a wealth tax by any other name, isn't it? >> absolutely. what biden and others overlook is that the distinction between actual income and wealth, assets, stocks, bonds, and the like. so this is a tax on unrealized capital gains. it would destroy capital, destroy productive investment, give more money to the politicians, while at the same time, having people who are productive spending more time trying to avoid these idiot taxes than producing better standard of living for all of us. >> stuart: it is unconstitutional surely. you cannot tax unrealized gains
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because it is not income. it is just wealth. you can't tax that. >> right, and now they will say well, what about local property taxs? that's a state level and local level thing. so in terms of the constitution, yeah, that will be challenged in the courts, and i think it will be overthrown, but they're not even going to pass it. they know this is garbage. they know it's never worked. >> stuart: they are saying it because they want to pull in voters who really hate the rich and hate the billionaires. that's what they are doing. >> yes, but that's not thankfully in america, that's not the majority. most people they don't care if steve -- or bill gates -- billions of dollars, what they want to know is my income going up? job prospects getting better? are the kids getting a better chance to get ahead? that's what they are concerned with, not trying to tear people down. this country as lincoln pointed out wants to build not tear down. >> stuart: in the february inflation report, it's due out tomorrow. the consumer price index for the month of february coming out tomorrow. very important report. it will dictate maybe what the fed is going to do with interest rates. what's your outlook? >> it's not going to be that
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good, and the index that the fed does look at has been stalled for a while. so they believe the fed still -- you have to have a depressed economy to bring down inflation, which is preposterous. what you need is a stable currency. they don't realize that. they will keep rates unnecessarily high. the take away on that is there's no reason why short-term interest rates should be higher than long-term interest rates like they are now. that hurts small businesses. bank lending to small businesses is being restricted, happened last year, happening this year, less money for inventories, less money for new equipment, not good for the future of the economy. it is going to consign us to european style growth rates which is near zero, stagnation. >> stuart: don't do it to me. i'm a refugee from that. europe is essentially a neo socialist continent. >> that's why this election is so important, which way do we go. >> stuart: the new york fed came out with a survey of what people think inflation is going to be like down the road. they say inflation's here to stay. i'm not sure i trust that kind
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of survey. i don't care what people think is going to happen. >> you saw the same kind of surveys in the 1970's when people thought inflation 8, 10, 12 percent was here to stay. you change policies, change people's perceptions about the future. >> stuart: very true, steve thank you very much indeed. new york lawmakers have introduced a bill that would provide $2600 to inmates after they leave prison. good morning, ashley. so now we're paying cash to criminals? >> yeah, you know what? i guess crime really does pay, unfortunately. under this proposed bill, we should say that, inmates would collect around 400 bucks a month over six months once they leave prison to help them get back on their feet. that's the theory. as it stands, there are no limitations it appears on how or where that money could be spent. democratic assemblyman, one of the sponsors of the legislation says the amount is barely enough to get groceries or purchase clothes for a job interview, but
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republican state senator says this, if you are really concerned about how much money you're going to have in your pocket when you leave prison, then don't go there to begin with. i think that's what a t a lot of people have been saying. how much will it cost taxpayers? sponsors of the bill requesting 25 million bucks be set aside for what is a cash give away. stu? >> stuart: what a story, ashley, thank you very much indeed. check those markets please. some red ink but not that much on a monday morning. dow down 120. small loss for the nasdaq and for the s&p. coming up, president biden being accused of using an executive order to register illegals to vote. what a story. we've got it. transportation secretary pete buttigieg says the border blame game in washington needs to end. roll it >> -- politician should first have to explain why they stood in the way of a border bill. >> should he take executive action knowing that's not going to happen? >> he's taking executive action right now. >> stuart: wait a minute.
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>> stuart: the standout on the markets thus far today, apart from stocks where the dow is down, etc., etc., show me bitcoin. that's the really -- look at it now. new high, $72,508 as we speak. better also check nvidia been all over the place this morning, down 5 1/2 percent last friday. down just another 1/2 percent this morning. lauren is with us. she's watching a mover which is moderna which is up nearly 9 percent. >> they have a new skin cancer treatment trial with merck. they're using moderna's mrna vaccine with a drug from merck to treat a common type of melanoma. we're expecting results. >> stuart: choice hotels -- >> they are scrapping the effort. it was a hostile takeover, couldn't get enough support from wyndham shareholders and also raised buyback authorization. >> stuart: children's place.
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>> stock is up 7.7 percent. they have received a second round of interest-free funding. this is a loan from their majority shareholder, the second time, and who is that? >> stuart: a saudi investment firm. >> saudi coming in on many different industries. kids clothing is apparently one of them, retail. >> stuart: i got this just coming out. the state department is going after airline executives. what's that all about? >> issuing new visa restrictions for air charter companies that help fly illegal immigrants out of the country to places like nicaragua. okay. the state department says this is causing irregular migration, saying in a statement, quote, these visa restriction actions target transportation companies predatory practice of profiting from vulnerable migrants and facilitating irregular migration to the united states. no one should profit from vulnerable migrants, not smugglers, not private
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companies, public officials, or governments. >> stuart: i'm sorry, i don't understand that. >> i would think it would be a good thing we're flying them out, but this white house says that just contributes to irregular migration. kind of like climate change is why people are fleeing their home countries to come to the united states -- >> stuart: they say it is predatory, preying on them. >> that's what the statement said. >> stuart: okay -- >> and our heads spin. i'm with you on that one. >> stuart: i can hardly understand it. >> it is distorted logic over and over again. >> stuart: world turned upside down. thanks. transportation secretary defended president biden's border poll sis. -- policies. watch this, please. >> we can do a washington blame game all day, and you can tell there's some folks in the capitol who would rather do that than roll up their sleeves and solve the problem. anybody who opens up their mouth about this issue should first have to explain, any politician, should first have to explain why they stood in the way of a border bill that could be passed tomorrow and the president would sign it. >> should he take executive action knowing that's not going
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to happen? >> he's taking executive action right now and will continually reassess what needs to be done based on the law and based on facts on the ground. >> stuart: okay. the sheriff of arizona is joining me now. sheriff, buttigieg says biden is taking executive action now. what executive action have you actually seen, sheriff? >> well, good morning. thanks for having me. let's go back three and a half years when president biden took office, he made a handful of executive decisions to declare the southwest border non-emergency and reverse pretty much every project, every program that president trump had in office that opened up the border. simply put, he incentiveized the board we are the executive plans -- the border with the executive plans, decisions. that's where we are at today. since that time, we have had no prioritization, no will, no enga engagement. that's why we have a border that's open. >> stuart: he has not put in
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place any new executive actions even though he knows the bipartisan bill on the border won't pass. he's not done anything recently, has he, in the last week or to? >> he has not, and that's where the frustration -- but it goes back to the will. he doesn't have the will to secure the border. >> stuart: true. >> he has the power of the people under title 8 which says if you come across the border illegally, this is already an existing law, that's why border patrol is so upset -- their agents, you are immediately expelled. he has set that aside too. when pete makes that comment about this is the blame game, take some responsibility. difference between us on the groundworking down here is we hold 51 percent of the majority of congress responsible and the white house, he's a paid advertisement for president biden, so he's not going to say anything about us. he needs to accept that. the problem is, president biden owns this first. congress owns it second. >> stuart: a federal court has blocked the administration from diverting 1.4 billion dollars away from border wall
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construction. sheriff, i think the judge is quite right here. i'm sure you will agree with me. but so what? you can't make biden build the wall, can you? >> no, and here's the thing, that just goes back to the collective thoughts that we err -- that we are talking about here is it's another attempt by this president who has been very open with it to open up this border. it goes into a domino effect that yes, he wants an open border. it is all about immigration first, america second. >> stuart: you're the sheriff of a county in arizona. i'm not sure where that is in relation to the border. describe the migrant situation in your county. what are you seeing? >> well, i will just say this, we have had 44 percent of all the people in my jail are border-related crimes. these are state crimes up to murder. we're seeing tragedy after tragedy, and i keep saying this, that every day that congress and the white house president biden diverts their responsibility and leadership to protect this
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country, a life is changed in a negative way. america's sheriffs, national sheriffs, we have stood on top of this trying to get some changes, this president refuses to engage with us and our communities. that's why we're having the problems. the problem is not getting better, a slippery slope. >> stuart: he wants an open border, increase the flow, improve the flow, am i right? >> that's correct. you are exactly right on that. you look at that bill that so many people are -- as pete talked about -- that we didn't support, that was a bill that was put under administrative, under the word trust. trust is not on the table in our communities with this administration and 51 percent of congress. that's why that didn't pass. it didn't engage sheriffs in this country. >> stuart: sheriff, arizona thank you very much for telling us how it really is. thanks. >> thank you. >> stuart: yes, sir. the president is apologizing for not being politically correct when talking about a murder suspect. roll it. >> during your response to her heckling of you, you used the
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word illegal, when talking about the man who allegedly killed laken riley. >> undocumented person. i shouldn't have used illegal. it is undocumented. >> stuart: okay. the wrong word, can't say illegal. just say undocumented. how are people responding to that, ashley? >> they're in this country unlawfully. that's illegal; right? but anyway, i digress. yes, republican house speaker mike johnson and other republicans went after biden for apologizing. johnson posting on x this: he said, the president is cowering to his base and showing deference to a man who deserves none. this man is an illegal immigrant who brutally murdered laken riley. president biden should be apologizing to laken's family. what an embarrassment. now tom homan, former acting director of i.c.e. told this show in the last hour that biden is apologizing to the wrong person. take a listen. >> illegal alien is a legal and
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proper name used. as commander-in-chief, i would think he would stick to the illegal term as defined by congress and signed by a president. second of all, he apologized for using the term about the bad guy. when he mispronounces laken's name. so he hit it wrong both times. >> republican senator tim scott also went after biden telling fox news talk about disgusting. joe biden is more worried about using the word illegal or undocumented, the word he should be using is murderer. by the way, police claim murder suspect in this case is a venezuelan national who is reportedly an active gang member. so begs the question, what part of that isn't illegal? >> stuart: good one, ash. donald trump met with laken riley's family before a big rally in georgia this weekend. what is he saying about this? >> yeah, he met with the riley family backstage, before a rally in rome, georgia. and here is the former president
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talking about it. listen. >> i met her beautiful mother and family backstage, sister, friends, some of her friends, her roommate, they said she was like the best. we are profoundly honored to be joined today by the family and loved ones of laken and some of her great friends. the hearts of hundreds of thousands and indeed millions and millions of americans and people worldwide, they're shattered alongside of your beautiful hearts. we share your grief. >> indeed. now, trump laying the blame for riley's death on president biden's policy of allowing illegal aliens to be granted immunity from deportation. stu? >> stuart: thank you. president biden is accused of using an executive order to register illegal immigrants to vote. to vote. what's going on? >> about three years ago, march 7, 2021, joe biden signs an executive order that told the
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department of justice, a law enforcement agency to help register people to vote. right? get out -- voter registrations going. now, the mississippi secretary of state sent a letter to biden's department of justice saying he wants answers on this plan, like people who aren't legally lied to vote like convicts in jails and illegal immigrants could be registering to votes. the secretary said these efforts are intrusion into state matters, misuse of federal -- this seems to allow people to vote including potentially felons. >> stuart: thanks, lauren. act vision's blizzard's former chief executive reportedly pitched the idea of buying tik-tok to open ai ceo
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sam altman, that would be interesting. we're learning more about the private bank transactions from conservatives even terms like covid vaccines and immigration restrictions, they were all used. the report on that is next. ♪ ♪ (♪) is bad debt holding you back? ♪ the only limit is the sky ♪ ♪ it's our time ♪ ♪ you don't want to miss it (just a little bit louder) ♪ ♪ it's our time ♪ ♪ you don't want to miss it ♪
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>> stuart: on the markets this morning, the dow is down 100. the nasdaq is down 50. some red ink this monday morning. house republicans say new evidence shows the federal government conducted broad and unjustified survey listens of americans -- surveillance of americans' private banking information. we're now learning that some conservative groups were classified as hate groups. which ones? >> stuart, this is according to a judiciary report where the information is coming from.
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the treasury's financial crimes unit circulated guidance from an outside organization that characterized several conservative groups, such as, the center for immigration studies, numbers usa, and the alliance defending freedom as hate groups. the report lumping them in with other groups like the kkk and the american nazi party. house judiciary chairman jim jordan wants to know if this is unconstitutional. >> these groups putting out a list of names of the alliance defending freedom and other groups and saying they were hate groups. it is really chilling and frightening when you kind of look at it in the broad sense what they were doing and the information, again, the fbi, the treasury department, were getting on american citizens. >> the committee says this guidance was not related to any specific evidence of criminal conduct, and instead singles out terms groups a and transactions related to certain religious or political beliefs that are protected by the constitution. the treasury department spokesperson in response to this
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report saying quote its mission is to safeguard financial system from illicit use. we are deeply committed to supporting this national security and criminal justice system in accordance with the law. the committee also says guidance went out to monitor hate symbols defined by the anti-defamation league including the celtic cross, the okay hand gesture and white lives matter. those were considered hate symbols as well. numbers usa spokesperson which is one of these groups that was singled out as a possible hate group is saying, quote, that they used the report in a transparent attempt to stifle free and open debate is distressing. it points to ongoing attempt by the biden administration to delegitimize political speech that it opposes and ultimately to silence those who dare to criticize its disastrous immigration policies. stuart, the house judiciary committee is investigating this issue. they are figuring out whether or not everything that the treasury department is doing is constitutional and legal, and if it should be, if there needs to be laws passed that put
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restraints on what information the treasury can request from banks on their customers. stuart? >> stuart: good story, hillary, thanks very much. the house is set to vote on a bill that could force the sale of tik-tok. lauren, who wants to buy it? >> well, reports that a 30 year veteran of activision, blizzard, that was just bought by microsoft has pitched his idea to potentially team up with open ai's sam altman, tag team, and make a bid for tik-tok. that would be a gaming executive and ai executive coming together to buy this social media platform. kevin o'leary of shark tank fame says he is interested also. the question is how much? various reports have tik-tok valued at 50, 60 billion dollars -- [inaudible] hundreds of billions of dollars. how much would tik-tok go for? >> stuart: the names you have mentioned can surely raise 50 to 60 billion dollars.
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>> yep. i mean, you would have a regulatory headache to deal with, but think of the free marketing that you get. 170 million americans using tik-tok. >> stuart: wouldn't that fix the problem if a bunch of americans got hold of tik-tok and severed the connection with china, that solves the problem, doesn't it? >> yeah, hence, that's the vote this week, right, force the company to sell tik-tok, you have american ownership. if you can't do that, within six months, then you ban it outright. what is going to happen? >> stuart: it would go to the courts but it is a way out. >> the idea is forming some strange alliances if you will. >> stuart: isn't that the truth. show me the dow 30 please. we have a lot -- that's almost an even split. winners and losers among the dow 30 and the dow itself is off 100 points at 38,600. want to get your hands on a piece of hollywood memorabilia? now's the chance. items like c 3po's head from star wars up for grabs and a lot more too. we will tell you all about it
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>> stuart: yes, you can own a piece of hollywood history. prop store is about to launch one of the world's largest auctions of authentic film and tv memorabilia. brandon from prop store joins me now. you are auctions 1600 items. i want to go through some. start with c3po's head from star wars. how much? >> this is a big one actually the highlight of the sale. the presale auction estimate on this one is half a million to 1 million dollars. it is going to be sold tomorrow at prop store. >> stuart: the actual head that appeared in the star wars movie, that's it? >> that's right. it was kept by the performer anthony daniels when they wrapped production on that film in 82. he has had it ever since. he's consigned it into our auction which takes place this week. >> stuart: 500,000 to a million dollars, that's extraordinarily. next one is indiana jones the leather jacket that was used a stunt leather jacket, how much for that?
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>> that's here on my left, original leather jacket from the second film indiana jones and the temple of doom, worn by the stunt performer armstrong, very famous stuntman, has a book called the world's greatest stunt performer, the presale estimate on that is 200 to 400,000 u.s. dollars. >> stuart: that's not bad. return of the jedi the stormtrooper helmet, i can't believe you will get much for that. >> you can see it behind me. star wars one of the most popular and collectible titles. this is like the c3po helmet. there were more stormtroopers. the presale is 150 to $300,000. >> stuart: if you bought it, could you put it on your head? >> you could. some might buy them to wear them, but i think most are buying them to display them. >> stuart: i remember this movie, back to the future, marty mcfly's guitar, i believe you are auctioning that off.
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how much? >> this one -- this is the guitar used in the first scene in back to the future, the original movie where the character gets introduced for the first time. he strums his guitar and throws him across the room, 100 to 200,000 u.s. dollars. >> stuart: lord of the rings ax. >> yes, lord of the rings series, you can see it on my right. that is an original ax used in the making of the movies. the presale estimate on that one is also 100,000 to 200,000 dollars. >> stuart: i'm surprised at the amount of money for an ax or helmet. >> it is all about fandom. people love the movies and films, grew up with them, nostalgia, appreciation for these titles and what they were. if you love a movie, what better way to appreciate it, connect with it than to own something that was used in the making of the movie.
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it is all about the real thing, the authentic article that was used in the films in the shows. >> stuart: is this an online auction? do you have an actual place where the auction takes place and a guy who bangs on the gavel and the rest of it? >> yes, we do. we have the guy banging on the gavel just like in the movies. i'm standing here at the peterson automotive museum in los angeles. this is where it takes place tomorrow. it is online as well. so bidder cans participate from anywhere in the world. they can bid online, by phone, or if you are in l.a., come over to the peterson museum tomorrow and see us for day one of the prop store auction. >> stuart: amazing prices and values. brandon, thank you very much for joining us. we appreciate it. i hope you do well. >> thanks for having me. good to see you. >> stuart: going to check those markets for you. it is 11:54, almost 11:55. a little bit of red ink but nowhere near as much as when we opened up trading, down 70 on the dow, down 36 on the nasdaq. here we are. it's the monday trivia question. it's a good one. i've got a solid guess on this one. when did daylight savings time
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become federal law? 1906? 1926? 1946? or 1966? the answer when we come back. >> did you remember -- everywhere but the seat. the seat is leather. alan, we get it. you love your bike. we do, too. that's why we're america's number-one motorcycle insurer. but do you have to wedge it into everything? what? i don't do that. this reminds me of my bike. the wolf was about the size of my new motorcycle. have you seen it, by the way? happy birthday, grandma! really? look how the brushstrokes follow the line of the gas tank. -hey! -hey! brought my plus-one. jamie? with dexcom g7, the most accurate cgm, you can achieve diabetes results without fingersticks. see how exercise affects your glucose, making it easier to spend time in range and lower your a1c.
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stuart: we just asked when did say daylight savings become federal law, 1906, 26, 46, 66, i have a good guess, actually you have the privilege of going first. >> how about the year the england won the world cup 1966. stuart: you and i enjoyed soccer and rugby over the weekend. >> yes we did. what you got lauren. >> between 46 and 66 and video with ashley 1966. i'm going with 1946, 1966, there you go, president johnson signed the uniform times act arizona and hawaii do not follow the time change, liverpool was fantastic and rugby, england island, wonderful, what a weekend. thank you everybody, "coast to coast" start right now

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