As Seen in the Des Moines Register and the Omaha World-Herald: Storm Clouds on the Horizon / They Held Up the Book / A Pause and an Apology
A WARNING FROM THE ROAD: IOWA AND NEBRASKA
Storm Clouds on the Horizon
And the Wind Is Already Up
A Carroll banker with sixty-six years behind a desk says he has read this sky before.
So have I. It looked like this in 1979, and the man in the White House was Jimmy Carter.
If you or someone you know is struggling, the 988 Suicide & Crisis Lifeline is available around the clock, and Iowa State
University Extension operates the Iowa Concern Hotline for farm families.
Sources: U.S. Treasury; Learning Resources v. Trump (Feb. 20, 2026); USDA; American Farm Bureau Federation; Federal
Reserve Banks of Chicago and Kansas City; Congressional Research Service; NCBA; Iowa Farm Bureau; UPI and Iowa PBS
archives; Human Rights Watch; company filings.
CARTER, 1980 An embargo that cost us the market
THIS TIME $20 billion Treasury swap to Argentina
AUTHORIZED BY No vote in Congress required
TIMED FOR The longest U. S. shutdown, and Milei’s election
ARGENTINA Beef quota quadrupled in February
BRAZIL 40 tariff points off, record 2026 imports
WHAT CARTER NEVER DID
CARTER COST US THE MARKET.
TRUMP WIRED MONEY TO THE MEN WHO TOOK IT.
IN MY OPINION, THAT IS NOT A MISTAKE. IT IS A DIRECTION.
NO PARTY OWNS THIS ONE
DEMAND REAL SOLUTIONS BEFORE THE SPRING NOTE!
THE MAN WHO READS THE SKY. In Carroll
I sat with a retired banker, a sixty-six-year veteran
of the business and a director of an Iowa
regional bank. He says another 1980s farm crisis
is coming and could be worse. His reasons:
a debt that crossed $40.05 trillion on August
18, trade policy that cost farmers their buyers,
and what happens when money gets expensive
again. At fifteen or eighteen percent, he said, it
will be twice as bad as 1981 because in 1981 we
had no trade war on top of it. He watched millionaire
farmers go broke in three years, men
he had banked for thirty.
WHAT THE LAST STORM TOOK. Researchers
counted 913 male farmer suicides across
five Upper Midwest states that decade. On December
9, 1985, Lone Tree farmer Dale Burr,
half a million in debt, killed his wife, Hills Bank
president John Hughes, and a neighbor, then
himself. Iowa banks hired guards.
IN MY OPINION, THIS IS CARTER’S PLAYBOOK.
Carter used food as a weapon. In January
1980 he embargoed grain to the Soviets,
trusting competitors not to take the sales. Argentina
refused, raising export earnings roughly
thirty percent selling to Moscow. Brazil, Canada
and Australia followed. The Soviets ate.
Iowa did not. America was branded an unreliable
supplier and never won that share back.
Then Carter bought the grain himself: $2.25
billion of it. Now watch it again. We taxed our
way out of the Chinese soybean market. Brazil
and Argentina took it. Our share of world soybean
trade is a record-low 23 percent. Then we
wrote a $12 billion check, drawn not on tariff
revenue but the Commodity Credit Corporation.
Borrowed money.
THE TARIFF THE COURT SAID HE NEVER
HAD. Read this twice. On February 20, the Supreme
Court ruled 6-3, with Roberts writing,
that the president has no power to impose
tariffs under the emergency-powers act. The
Court did not say they were unwise. It said they
were never lawful from day one. Roughly $175
billion may be owed back to importers. Iowa
farmers spent a year eating Chinese retaliation
for a policy the Court says was never authorized.
A day later the Trump administration
announced it would reimpose a fifteen percent
tariff globally under another statute. The share
is gone. The retaliation was real. Only the authority
was imaginary.
CARTER LOST US THE MARKET. THIS
ONE PAID THE MAN WHO TOOK IT. Here
is where my opinion hardens, and it is the
heart of this editorial. Carter was wrong, and
Iowa paid for it. But Carter never wrote Argentina
a check for taking our business. On October
9, 2025, during the longest government
shutdown in American history, the Treasury
Secretary announced a $20 billion swap line
with Argentina’s central bank and directly
purchased Argentine pesos. The money came
from the Exchange Stabilization Fund, which
needs no vote in Congress. No economic conditions
were attached. The timing served President
Milei’s October elections. And at that very
hour, Argentine farmers were selling China
the soybeans Iowa could not. Senator Grassley
said it plainly at the time: our farmers were
upset about Argentina selling soybeans to China
right after the bailout, with zero U.S. sales.
Then in February we quadrupled Argentina’s
beef quota. On August 21 we floated 300,000
metric tons more. Cattle broke that morning.
Carter shut a door and our competitors walked
through it. Trump opened the Treasury and
wired them the fare.
AND THE GATE FOR BRAZIL. In July 2025
the Trump administration put a 50 percent
tariff on Brazilian beef. By November it had removed
40 of those percentage points. Brazilian
packers shipped $795 million of beef into this
country in the first quarter of 2026 alone. Total
U.S. beef imports hit a record $13.75 billion in
2025 while our own beef exports fell about 11
percent to $9.3 billion. Imports are on pace for
nearly 6 billion pounds this year, which would
be a record. And on August 21 the Trump administration
announced a 90-day cut to beef
tariffs, in the middle of that record. The cattlemen’s
association called it flooding the market
with “government-subsidized, below-market
beef.” Not my words. Theirs.
AND NOW THE PACKINGHOUSES. I
watched plants go dark in Storm Lake, Fort
Dodge and Cedar Falls. Rath closed in Waterloo
in 1985. But those jobs went to American
firms cutting American wages: IBP’s boxed
beef, rural low-wage plants, packing pay below
the average U.S. manufacturing wage by
1983. Ugly, and ours. Now the ledger. Tyson
shut its Lexington, Nebraska, plant in January,
eliminating 2,000 jobs. On August 13, Tyson
announced the immediate closure of its Joslin,
Illinois, plant, affecting 2,500 workers, plus its
Eagle Mountain, Utah, facility. Perry, Iowa is
gone. Over 10,000 Tyson jobs since 2023. JBS
is closing a Pennsylvania plant, eliminating
2,000 more jobs. JBS is Brazilian, controlled by
the Batista family of São Paulo. The plants that
closed this month processed American cattle.
What is replacing them does not.
ONE THING REAGAN WOULD NEVER DO.
Reagan ended Carter’s embargo in ninety-four
days. He tore a barrier down. Whatever else he
was, and I have written plainly about what he
was, he never bought a competitor’s currency
with public money, and he never cut his own
ranchers’ tariff protection during a record import
year. That, in my opinion, is the whole distance
between a president who mishandled a
crisis and one who is financing the other side of
it. Carter was wrong. He was not misdirected.
This is misdirected.
WHY THIS ONE COULD BE WORSE. The
banker’s real warning was not about prices. It
was about where the debt is sitting. Farm debt
hits a record $624.7 billion this year, carrying a
record $33 billion in interest. The Kansas City
Fed reports farmers taking larger operating
loans and longer to repay. The Chicago Fed’s
May survey of 104 Midwest ag lenders found
falling cash rents, rising rollovers, tightening
credit and near-breakeven cash flow. An Iowa
bankruptcy attorney describes what I remember
from 1980: farmers moving operating debt
onto the land because the land is the only thing
still holding value. That is the trap. Land is up
three percent while cash flow is negative. The
ground is carrying the losses. It carried them in
1979 too, right until it did not. Then it fell sixty
percent with the notes still attached.
The ground is carrying the losses.
It carried them in 1979 too,
right until it did not.
THE WIND IS ALREADY UP. Corn breaks
even near $5.00; USDA forecasts $4.20. Soybeans,
$12.27 against $10.30. Iowa net farm income
is projected down 53 percent. Nineteen
percent of the state’s midsize and large farms
are financially vulnerable, double 2022. Chapter
12 filings rose 220 percent here.
THE HONEST PART. Tyson and JBS blame
the cattle herd: 86.2 million head, a 75-year low
from drought and disease, not imports. That is
the stated cause, and I will not pretend otherwise.
The Argentine swap was a credit line,
not a grant, and Treasury says the draw was repaid.
In terms of wreckage, 1980 through 1985
was still worse: land off sixty percent, Farm
Credit down $2.7 billion. My argument is not
that the checks have already destroyed us. It is
about direction and about what is being loaded
onto the ground right now.
GET THE MACHINERY IN. Remove the tariffs
and trade barriers. Rebuild the herd before
importing the beef. Stop financing the competition.
E20 now, E30 by 2029. Do it before the
spring note comes due. The note is where this
ends. It always was.
When I filed this case, I expected a straightforward
process involving discovery and documents.
If the record supported it, I also expected
the true wrongdoer to be named as a third
party defendant.
That is not what has happened. It is my
opinion that discovery in this matter is being
shaped by people whose names do not appear
in the case caption. I cannot prove that today,
and I will not tell readers otherwise. I can only
tell you what I believe and why I am acting on it.
I am therefore pausing my lawsuit.
I want to be plain about Berkshire Hathaway.
My view is that the company and its agents may
themselves have been used by someone else
who gave them a version of events and left
them to act on it.
If I am right, Berkshire is not the author of
this defamation but a vehicle for it. To the extent
that my filings suggested otherwise, my
apology is sincere.
My hope is that Berkshire Hathaway or its
agents will come forward or tell others what I
suspect they may already know: the origin of
this matter is federal.
I remain of the view that my dispute with
the federal government is ongoing and that the
government’s objective is to silence and discredit
me.
Free speech has cost me a great deal. In this
political climate, it is plainly not free.
Brent Lambi: The opinions expressed above
are solely those of the author.
A Pause and an Apology
An update on the Berkshire Hathaway defamation matter
and why I am putting my own case on hold for now.
THE BOOK IS NOT A PROP
They Held Up the Book
They Simply Never Opened It.
The acts first, in plain language. Then the verse each one breaks.
The deeds are public record. Scripture is theirs too.
THE PHOTOGRAPH. On June 1, 2020, federal
officers cleared demonstrators from Lafayette
Square. Minutes later the president walked
across it and held a Bible up in front of St.
John’s Church for the cameras. He did not go
in. He did not read from it. He did not pray.
◆ “They love to pray standing in the synagogues
and in the corners of the streets, that
they may be seen of men… They have their
reward” (Matthew 6:5). The reward was the
photograph. That was the transaction.
THE $59.99 BIBLE. In 2024 he put his name
on the “God Bless the USA Bible”: scripture
bound with the Constitution and a song lyric,
sold at $59.99, with a licensing cut to him.
◆ Christ drove the sellers out of the temple:
“make not my Father’s house an house of
merchandise” (John 2:16). Merchandising
the book is not witness. It is inventory.
A Bible held up for a photograph is
not a testimony. It is a costume.
THE MONUMENT. A $600 million ballroom
rises on the people’s ground, about half of it
charged to taxpayers. A federal judge ruled
that only Congress may rename the Kennedy
Center; in August the board voted around him
and renamed the grounds the President Donald
J. Trump Plaza.
◆ “Is not this great Babylon, that I have built…
for the honour of my majesty?” (Daniel 4:30).
Nebuchadnezzar lost his reason in the middle
of that sentence. “Whosoever shall exalt
himself shall be abased” (Matthew 23:12).
THE GIFT AND THE SETTLEMENT. A $400
million jet was accepted from Qatar. A $10 billion
claim against the IRS, filed in his personal
capacity, was settled in May by the attorney
who defended him in his own criminal case
and now runs the Justice Department; the
claim was traded for audit protection on every
earlier return.
◆ “Thy princes are rebellious, and companions
of thieves: every one loveth gifts, and followeth
after rewards” (Isaiah 1:23). And the
ledger verse: “A false balance is abomination
to the LORD” (Proverbs 11:1).
THE PARDONS. Juan Orlando Hernández,
sentenced to 45 years for moving hundreds of
tons of cocaine, was pardoned and released.
Roughly a hundred drug clemencies followed.
Meanwhile, 70.6 percent of those held in ICE
detention had no conviction.
◆ “He that justifieth the wicked, and he that
condemneth the just, even they both are
abomination to the LORD” (Proverbs 17:15).
Both halves, in one line. Mercy for the trafficker.
A cell for the roofer.
THE SICK AND THE CHILDREN. Premium
credits lapsed on December 31, 2025, and
premiums rose about 26 percent. Measles returned
to its worst year since 1991 as kindergarten
vaccination rates fell to 92.5 percent.
A law passed 427–1 ordered the Epstein files
released; the survivors are still waiting.
◆ “I was sick, and ye visited me not” (Matthew
25:43). Of the children: “it were better for him
that a millstone were hanged about his neck”



