Jan. 28, 2021 - Bannon's War Room
48:52
Participants
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| Speaker | Time | Text |
|---|---|---|
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unidentified
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Well the virus has now killed more than a hundred people in China and new cases have been confirmed around the world. | |
| You don't want to frighten the American public. | ||
|
unidentified
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France and South Korea have also got evacuation plans. | |
| But you need to prepare for and assume. | ||
| Broadly warning Americans to avoid all non-essential travel to China. | ||
| This is going to be a real serious problem. | ||
|
unidentified
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France, Australia, Canada, the US, Singapore, Cambodia, Vietnam, the list goes on. | |
| Health officials are investigating more than 100 possible cases in the US. | ||
| Germany, a man has contracted the virus. | ||
| The epidemic is a demon and we cannot let this demon hide. | ||
| Japan, where a bus driver contracted the virus. | ||
| Coronavirus has killed more than 100 people there and infected more than 4,500. | ||
| We have to prepare for the worst, always. | ||
| Because if you don't, then the worst happens. | ||
|
unidentified
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War Room. | |
| Pandemic. | ||
| Here's your host, Stephen K. Bannon. | ||
| Live from our military-occupied national capital, you're in the War Room. | ||
| It's Wednesday, the 27th of January, the Year of Our Lord 2021. | ||
| Now the podcast is significantly north of 30 million downloads. | ||
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| I think Telegram's got live chat, the Real America's Voice has got live chat. | ||
| We want you in the chat. | ||
| We want you to hashtag War Room Pandemic. | ||
| We're building a community. | ||
| As Terry Schilling said today, it is known around DC, this is the most powerful audience in the world. | ||
| If you want to get your word out, if you want people to sign up, if you want people to do things, the reason is we have people that are active. | ||
| They want action, action, action. | ||
| And there's a lot of action going on today. | ||
| I want to start no cold open because we don't have the time. | ||
| We've got Navarro, we've got Pesovic, we've got Boris. | ||
| We're talking about Wall Street, big populist revolt on Wall Street, taking on the institutions. | ||
| Also the 1776 Commission. | ||
| Was called a bunch of lies by Joe Biden yesterday. | ||
| Signed an executive order to get rid of it. | ||
| We had on the last day of operation, Carol Swain from Vanderbilt University. | ||
| Dr. Carol Swain will be here. | ||
| She was the vice chairman of the 1776 Commission. | ||
| She'll join us later in the show. | ||
| I want to start with Dr. Peter Navarro. | ||
| There's a lot going on and we want to get to Jack Posobiec actually took you up on it when you had this chilling and for people are not are throughout the country and particularly people on the podcast already make can't can't see our TV broadcast or live stream broadcast. | ||
| Something very chilling has happened in Washington DC. | ||
| It was like the Green Zone in Baghdad over the inauguration. | ||
| Very eerie. | ||
| Combat troops everywhere. | ||
| National Guard, up-armored. | ||
| Nancy Pelosi wanted actually personnel-loaded machine guns, which were not approved, but they had, everybody was armed. | ||
| I think 25,000 to 27,000 troops. | ||
| That's now down, I think, drawn down to 7,000. | ||
| Tom Cotton has asked for an official investigation. | ||
| He wants a briefing to say what is the threat level that we have the razor wire everywhere, we have troops everywhere, and there's still a quasi-green zone. | ||
| Jack Posobiec was so motivated and inspired by Dr. Peter Navarro yesterday that he went out today and actually filmed the razor wire so people can see. | ||
| You can't understand what's going on in the country until you understand. | ||
| There he is right there. | ||
| That is your nation's capital. | ||
| Senator Tom Cotton has asked for a full report and we keep talking to the people in the state of Florida and Texas which sent troops up, sent National Guard. | ||
| They have to be demanding. | ||
| What is the threat level? | ||
| That, ladies and gentlemen, on TV, is what Washington, D.C. | ||
| It's hard to tell from that footage because the wire is so large and the cage is so dense, but that's actually just across the street. | ||
| This shot, you can actually see the U.S. | ||
| Capitol Spire above the dome, but directly across, it's razor wire. | ||
| It's seven, eight foot high fencing that, you know, obviously can't be scaled. | ||
| And on the other side of that armed US National Guard, National Guard soldiers that do have their M4s, their M16s out. | ||
| You got Humvees that are all along here, stationed along the route. | ||
| You've got guys out in the cold patrolling on presence operations, foot patrols. | ||
| You can see foot patrols marching around on the inside of the occupied area. | ||
| It's a complete occupation of the US Capitol. | ||
| All of the offices of the US Senate and the US House are inside this green zone. | ||
| And to be able to get around it, you have to go all the way around the Capitol. | ||
| You can't use any of those streets that would cut through anymore. | ||
| So, you know, to be able to just get around this thing, it's incredibly cumbersome. | ||
| Yet, when you go to DHS, who put out a bulletin today, talking about this new advisory, DHS bulletin advisory through their advisory system, It stated that they are going to extend the period of advisory to beyond the impeachment trial, but there are no specific credible threats still. | ||
| Politico is reporting in the National Guard deployments extended through the end of March, our Evercrack production staff led by Cameron Wallace is telling us the memo says that troops are ordered to stay on duty at least through the end of March. | ||
| Somebody, I think Cotton's right. | ||
| We need to see, this is what we've been begging for. | ||
| What is, besides IC chatter, what is the threat? | ||
| And this thing from DHS leads to, oh, it's these domestic terrorists. | ||
| I want to turn now to Dr. Peter Navarro. | ||
| Dr. Navarro, you were banned today. | ||
| On Twitter, and you know, this gets to the point of they're trying to de-platform everybody that's got a dissenting voice. | ||
| You're, if not the leading voice in the United States, one of the leading voices in the world for economic nationalism, for economic populism. | ||
| What did you say to get banned on Twitter? | ||
| See, you're burying the lead here, because this is a day of history in censorship in America, because I didn't say anything. | ||
| I hadn't tweeted since January 14th, and nothing I tweeted then was offensive in any way. | ||
| So it's a day of history, because this is the first time Twitter has banned the person just because of who I am, not because of what I said. | ||
| Now, let me say this. | ||
| I want to say this right to Jack Dorsey right now. | ||
| You've done violence, not just to the First Amendment, but you've done violence to me. | ||
| Imagine, for example, if I were out in front of the Capitol with a simple sign, peacefully protesting, and you walked up to me and you ripped that from my hand. | ||
| That, sir, would be violence and that's what you did today to me and to this country by banning my account for nothing I said. | ||
| Nothing I did just because of who I am. | ||
| Shame on you, sir. | ||
| And this is Kafkaesque and it comes at the same time where The Department of Homeland Security is raising this threat level about so-called domestic terrorists. | ||
| And, you know, it's like the next thing I know I'm going to be a domestic terrorist person designated simply because I'm exercising free speech about democracy in America. | ||
| They're coming to get you. | ||
| They're coming to get all of us right now. | ||
| This is not America. | ||
| This is communist China and Twitter in this marriage Going on here. | ||
| And Steve, day of history. | ||
| Day of history. | ||
| Well, go ahead. | ||
| Well, Dr. Navarro, I am taking a look at this, your account right here. | ||
| I do note that it actually says it's a temporary restriction on Twitter. | ||
| So I do think, hopefully, that if they come to their senses, we should be able to get you back up and get you going. | ||
| Here's the game. | ||
| Jack, hang on, Steve. | ||
| I do not want to hear that temporary They shut it down. | ||
| It's like, I don't know if and when I'm coming back to that. | ||
| I don't really care. | ||
| What matters to me today is that there was no reason for what they did other than the person. | ||
| Oh, there's a reason. | ||
| It says unusual. | ||
| Listen, you're seeing this warning because there has been unusual activity from this account. | ||
| Yeah. | ||
| See that's the focus too because I haven't tweeted on that thing for two weeks. | ||
| So what kind of activity could be there if there's no tweets on it? | ||
| I'm about to explain it to you. | ||
| Okay? | ||
| You take your number two pencil out and write this down. | ||
| Here's what they're doing. | ||
| You can tell I tell you what they're doing. | ||
| No, I tell you what they're doing the same thing that took they took the war room. | ||
| They took the war room down because they said we were talking about election where they took the war room down because we were posting on the war room the receipts from the hard drive from hell Hunter Biden's hard drive. | ||
| We were putting up on a second tranche. | ||
| We're putting up the the wire transfers the. | ||
| signed engagement letters. Hunter Biden, who's walking around as the advisor to the president now on China, wandering around the West Wing, he's stopping for bagels. He's telling the president, don't push back on Taiwan. They're trying to bait you. Here's why they're doing it, Dr. Navarro. It's the Navarro reports. | ||
| What happened yesterday, he swore in the Senate for the trial and took a two-week hiatus. | ||
| What they cannot have happen, because right now I think they feel they got President Trump trapped because he's going to be arguing this esoteric argument about the Constitution. | ||
| They do not want him to bring the receipts to the Senate floor about the voter fraud. | ||
| They're going to try to connect dots. | ||
| They're going to say, hey, not only did you rile people up on January 6th with your speech, they're going to go back years and say every time he said throw a guy of a rally, you know, he was inciting violence. | ||
| They're also going to go back to November 4th and say, hey, your whole working through with Rudy and these other people, the voter fraud, the election fraud, riled people up. | ||
| What they don't want, and they can't have, and this is why you've been suspended from Twitter and shut down from Twitter, they cannot have you, as a force that you are, continue to put out links to the Navarro reports because the Navarro reports has the three volume, has the immaculate deception, the art of the steal, and Trump won receipts and evidence. | ||
| That is what they do not want in this interregnum, in this kind of period in the run-up to the trial. | ||
| Under no circumstances do they want the American public to see Peter Navarro on TV, or to see him somewhere, and he talks about Twitter, and they go to Twitter, and he's got a direct link to Navarro reports. | ||
| You're taking down, this is the hypocrisy. | ||
| Let me say this, Steve. | ||
| You make exactly the point I think that's important for your audience. | ||
| This was a preemptive strike on free speech. | ||
| A preemptive strike. | ||
| That's why it's history. | ||
| They know. | ||
| I guess I'm a dangerous individual here because I will speak the truth based on fact and statistics and they are apparently I'm afraid of that. | ||
| But again, I get to this analogy. | ||
| I mean, think about this, Steve. | ||
| Let's suppose we were in the public square instead of the digital square. | ||
| And I was standing in there and I had a placard that said, Democracy Lives, right? | ||
| And Jack Dorsey walks up to me and rips that out of my hand. | ||
| What do you think would happen next? | ||
| He is inciting violence when he's doing this kind of thing. | ||
| He is making this entire country angry at him and Twitter and the 74 million people who voted for Donald J. Trump are getting more and more outraged at this kind of social media censorship. | ||
| So I would say, Mr. Dorsey, tread lightly, sir. | ||
| But let me jump in here. | ||
| Yeah, go ahead. | ||
| What I just want to say to double down on, that's why at the beginning of this show, and Steve, you do such a great job of this when you finish with a guest, that's why when you hear us say, hey, this is where to find us, this is where to get access, you're starting to hear different words, right? | ||
| You're not just hearing Twitter and Instagram anymore. | ||
| You're hearing Rumble. | ||
| You're hearing Telegram. | ||
| Look, we are the opposition. | ||
| We are the real opposition, and we have to come together with these networks. | ||
| It ain't going to be Twitter. | ||
| It ain't going to be Instagram and Facebook anymore. | ||
| Okay, this is the reason. | ||
| And let's not forget how they killed Parler, okay? | ||
| It wasn't just the deplatforming that they did where you couldn't download the app from Google. | ||
| It was Amazon coming in with the kill shot by taking them out of the cloud on their servers, and that was the most brutal killing of We're going to take a short commercial break. | ||
| Why is Navarro so hated by the establishment? | ||
| You actually called that the weekend before it happened. | ||
| They said, hey, your worry is part of what they're going to do. | ||
| OK, we take a short commercial break. | ||
| Why is Navarro so hated by the establishment? | ||
| Because he's an apostate, right? | ||
| He went to Harvard. | ||
| He's got his Ph.D. and now he's working for the opposition. | ||
| That's why they hate him, and that's why they're pulling him down. | ||
| But Peter, you're sitting in front, your backgrounds are legendary already. | ||
| You're sitting in front of the flag of the Chinese Communist Party, and we're going to return and talk about how Joe Biden just signed an executive order That outlaws Peter Navarro from mocking and ridiculing the Chinese Communist Party, particularly in their participation in the in the war. | ||
| You can't make this stuff up in the Wuhan virus. | ||
| The Biden administration, the gift that keeps on giving. | ||
| We're going to return in a moment. | ||
| Dr. Peter Navarro, Jack Pasovic, Stephen K. Bannon, the evening edition of War Room Pandemic. | ||
|
unidentified
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We're taking down the CCP. | |
| Spread the word all through Hong Kong. | ||
| We will fight till they're all gone. | ||
| We rejoice when there's no more. | ||
| Let's take down the CCP. | ||
| We will fight till they're all gone. | ||
| We rejoice when there's no more. | ||
| Let's take down the CCP. | ||
| Let's take down the T.C.D. | ||
| you War Room. | ||
| Pandemic. | ||
| with Stephen K. Bannon. The epidemic is a demon and we cannot let this demon hide. | ||
| War Room. Pandemic. Here's your host Stephen K. Bannon. | ||
| Okay go to warroom.org slash join. | ||
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| That's all one word. | ||
| Bannon War Room. | ||
| That's the official site. | ||
| Or go to Rumble. | ||
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| I don't know why he added the S, but hey, grammatically. | ||
| Go to those. | ||
| Join the live chat. | ||
| That's what we want to do, get in the live chat. | ||
| We want to hear what the community has to say. | ||
| I get fed that constantly. | ||
| Okay, Peter, first off, Posobiec, what did the actual president, he's done, I think he's heading towards 40 executive orders in a couple of days. | ||
| These guys are trying to run the tables. | ||
| I think we're at 43. | ||
| This is why it's so important To resist right now because this is the radical agenda he knows he can't get through legislatively. | ||
| He can't turn this into law. | ||
| His amnesty bill's already cratered, right? | ||
| The COVID-19, they're going to have to do it through that funky way reconciliation that they did the Obama thing. | ||
| They can't pass anything. | ||
| They understand that. | ||
| They're going to try every scheme in the book. | ||
| You must resist. | ||
| Right. | ||
| You must resist the radicalization of this country by what they're doing at the border, what they're doing with climate change, all of it. | ||
| What is he doing with the China virus? | ||
| And listen to this one. | ||
| This is it's almost like he's he's got people listening to the war room because The Biden executive order is also expected to direct federal agencies like the Department of Health and Human Services, HHS, to examine whether or not there are xenophobic phrases like, quote, China virus in any existing policies, directives, or government websites published by the Trump administration. | ||
| And you know, they're going to include emails in that too. | ||
| Yeah, listen, I'm going to be blunt. | ||
| We're the center of the anti-CCP movement. | ||
| This is not about the Chinese people. | ||
| They're the victims of it. | ||
| It's not about Lao-Beijing. | ||
| They're the victims of it. | ||
| It's not about China or the nation of China or the country of China. | ||
| We've always said CCP virus. | ||
| It is the CCP virus. | ||
| So Joe Biden and the rest of you cranks over there in the White House, Jen Psaki, suck on that. | ||
| The CCP virus, and we're never going to back off. | ||
| That is not xenophobic. | ||
| Peter Navarro, that beautiful background you've got of the CCP flag that highlights you, they're going to make you stop doing that, sir. | ||
| You really can't make this stuff up, Steve. | ||
| And one of my big regrets About my time in the White House was I wanted to form a presidential commission to investigate the origins and costs of the CCP virus. | ||
| There was a tremendous opposition to that in the interagency. | ||
| This country is losing. | ||
| There's going to be over a half a million people within a couple of months that we've lost to the CCP virus. | ||
| There's increasing evidence that it came from a lab. | ||
| It's unclear whether it was intentional or accidental, but what was intentional, Steve, is during that 60-day period when Xi Jinping and his henchmen knew that we had a pandemic on his hand, they sent us a couple of hundred thousand Chinese nationals on gleaming aircraft to see and spread and kill people. | ||
| They did that. | ||
| So the Biden administration is going like backwards. | ||
| Oh, don't offend the Chinese for killing us with their virus and killing our economy. | ||
| And by the way, with these new strains coming. | ||
| So, I mean, really, this is crazy. | ||
| No, Peter, hang on a second, hang on a second. | ||
| When you guys left, I want to make sure, you say it's unclear. | ||
| It is absolutely clear. | ||
| The intelligence agencies, the five eyes in the State Department came out and said, hey, number one, this is part of a PLA program run in Wuhan, the P4 level. | ||
| Under the auspices of the People's Liberation Army. | ||
| Of that, there's no doubt. | ||
| And, sir, this came from a gain-of-function experiment. | ||
| The only question before us, did it inadvertently leak out of the lab? | ||
| That's right. | ||
| That's all I'm saying. | ||
| Or was it purposely let off? | ||
| Yeah, so make sure. | ||
| Here's what I'll give at the Biden administration. | ||
| Everybody understands. | ||
| We know at this point it's from the lab. | ||
| We know that Anthony Fauci gave them the money To build that thing. | ||
| We know that Anthony Fauci allowed this gain of function so they could genetically engineer something more dangerous. | ||
| The only thing we don't know is whether it was an accidental slip From the lab or whether they actually intended to put that out. | ||
| And I can make the case, I can make a strong case that this was a bioweapon that was purposely released and hit right at the United States. | ||
| But that's why I think it's important to have a presidential commission. | ||
| And we've done this plenty of times before. | ||
| We did it when Kennedy was shot. | ||
| Obama did it when there was the beat peace bill. | ||
| We did it when Pearl Harbor happened. | ||
| Look, as a nation, Steve, we need to get to the bottom of what the CCP is doing. | ||
| Because you know what, Steve? | ||
| It's not just that they're killing Americans. | ||
| They're using the fog of war with this pandemic to go out and crush democracy in Hong Kong and to have their way with the rest of this world and to promote this authoritarian model. | ||
| Hey, yeah, sure. | ||
| Maybe they can control us a little better because they're authoritarians. | ||
| But you know what? | ||
| Here's another thing. | ||
| They had SARS back in China before, so there's thoughts, people like Stephen Hatfield have pointed out, that they have more T cell immunity to this virus. | ||
| So they're thinking like Mao Zedong, hey, if we lose people here in China, eh, they'll lose more and we'll gain relatively. | ||
| So these are the kinds of things. | ||
| that we need to be discussing, not with tinfoil hats on, but with virologists from places like Fort Deakin, with economists, and with geopolitical strategists who are going to look at the chess board, Steve, and say, you know what, the CCP is exploiting this virus for geopolitical gain, okay. | ||
| They're doing that. | ||
| That's their strategy. | ||
| The only question is whether it's strategy motivated by an accidental release of that virus or whether it was planned all along. | ||
| But this thing's a bioweapon, whether it's from nature or from CCP. | ||
| It's a bioweapon the way it's hitting us. | ||
| So, the NBC, I was watching NBC earlier today, and they actually had a report from some, finally, the WHO has sent their researchers in, they're actually going into the lab, coming in and out, checking out some of the stuff, and one of the first things, you know what they had to say, and it's amazing, because it's like looking through a mirror, we talked about this exact thing a year ago, a year ago today, to the date, when they said, | ||
| You know, it looks like they've taken down an internal database here at the Wuhan Institute's NBC News, right? | ||
| And they said, what was the database? | ||
| It was the research of Shi Zhengli, the bat lady, the bat woman, all of her research, the gain of function, the bats from Yan'an Cave, all of the research that we've been talking about from day one. | ||
| And finally, you know, we've come full circle three to 65 days later, where you can go on NBC And you hear something that you would have heard on War Room a year ago. | ||
| Gertz came on the show a year ago. | ||
| He was on this morning, came on the show a year ago today and talked about the PLA program at the Wuhan lab in the Washington Post. | ||
| The next day said fringe conspiracy theories abound. | ||
| You're wrong. | ||
| You're liars. | ||
| You misled the American people. | ||
| And this is why people are dead. | ||
| We have not forced our way into that lab. | ||
| Peter Navarro, you talk about interagency process. | ||
| There was an interagency process that went and got the proclamation and the report from the State Department that came out about the Wuhan lab. | ||
| The U.S. | ||
| government has now put that forward. | ||
| How can Biden and Blinken and these guys start to back away from that, sir? | ||
| I'd love to know who in that Biden bureaucracy came up with this idea of banning the words like CCP virus or whatever. | ||
| I mean, who are these people? | ||
| And we talked about this on the show yesterday, and we went kind of chapter and verse on the granular level. | ||
| As we always do on this show. | ||
| And every one of these people that they're putting in power is soft on China and a globalist. | ||
| I mean, it's it's the alternative universe to Trump. | ||
| And I'm telling you, Steve, within six months, we are going to have the biggest case in this country. | ||
| If you don't know what you got till it's gone with Donald Trump, because not only are the Chinese going to push us and probe us and try to run over us, and create tensions in the South China Sea and in the Taiwan Strait. | ||
| Not only that, this economy is really heading for some really, really treacherous waters because of the failure of Nancy Pelosi, Mitch McConnell, and that Capitol Hill crowd now surrounded by barbed wire from actually taking action. | ||
| Steve, let's everybody remember in America, the House of Representatives impeached the president in two days. | ||
| Two days, and they aren't able to do anything in two to four to six months to save the American worker from the CCP virus attack. | ||
| It's just insane. | ||
| Hang on, we only got two minutes for you, but I got breaking news here on the UN, the ambassador of the UN. | ||
| She's a nominee. | ||
| Nominee for the UN. | ||
| It's exactly what Dr. Navarro, what you're saying. | ||
| Linda Thomas-Greenfield, in her confirmation hearings, they're asking her about her ties to these Confucius Institutes. | ||
| She went down to Savannah State. | ||
| Why were you giving a speech to the Confucius Institute on their five-year anniversary, honoring them? | ||
| They ask her about the Uyghurs. | ||
| She's undercutting Biden's own Secretary of State, Tony Blinken, when she says, we need to review the process. | ||
| This stuff makes me absolutely sick. | ||
| The concentration camps in Xinjiang province, there's over a million people in there. | ||
| that it's a genocide. I feel, but we need to re-examine. | ||
| Peter Navarro, you got a minute? | ||
| We got a minute to bounce. What do you have to say? This stuff makes me absolutely sick. | ||
| The concentration camps in Xinjiang province, there's over a million people in there. What they do in that province, they're Uyghur Muslims. | ||
| They send the women to the other provinces to mate with the Han Chinese in a cultural genocide, an actual ethnic cleansing. | ||
| The men, they put in these concentration camps, and if they're lucky, if they're lucky, Steve, they get to work in the slave labor camps. | ||
| If they're unlucky, they're organ donors and they wind up cremated in the air. | ||
| So, I'm not impressed with any. | ||
| Look, honey pots. | ||
| Honey Potts, Eric Swalwell, sleeping his way with a Chinese spy, the STDs, the Spy Transmitted Disease, but there's also the Money Potts, and that's how they got this UN nominee. | ||
| And the Chinese, they're either giving you money, or they're putting you in some bedroom with a camera on you and having the pictures. | ||
| We have to go to a hard break. | ||
| Peter Navarro, we'll give you your coordinates, since people can't get you on Twitter, we'll give you other coordinates on the other side of the break. | ||
|
unidentified
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Thank you very much for joining us, Dr. Navarro. | |
| Pandemic. | ||
| With Stephen K. Banham. | ||
| The epidemic is a demon and we cannot let this demon hide. | ||
| War Room. | ||
| Pandemic. | ||
| Here's your host, Stephen K. Banham. | ||
| Okay, the populist revolt has now hit Wall Street. | ||
| The institutional investors are just getting crushed. | ||
| Melvin Capital, a very well-known hedge fund, managing pension fund money, your pension funds, got destroyed. | ||
| A $3.5 billion loss, I think it is. | ||
| They had to come to the rescue. | ||
| I think Ken Griffith in the Citadel Capital had to come and bail them out. | ||
| But you're seeing the, I guess a Reddit subgroup, sub chat room, has led a populist revolt on Wall Street to jump into these stocks. | ||
| Stocks that they liked started driving them up against the shorts. | ||
| Short covering exploded these stocks. | ||
| Remember, shorts is when you're betting that the companies will fail and the stock will go down. | ||
| Going long is the opposite. | ||
| You've had a lot of short covering and this is getting to be A massive story. | ||
| I've got to tell you, from the White House, they're saying they're monitoring it. | ||
| There's reports out today they may suspend the trading. | ||
| This is how much they like the little investors. | ||
| As soon as you start making some money, oh, it's speculation. | ||
| It's speculation. | ||
| Like, these guys haven't been running a casino. | ||
| Note to self, did you see the 2008 crash? | ||
|
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Right? | |
| You see the bubble's been created? | ||
| The bubble's not created because of the Reddit chat room. | ||
| The bubble's created because of all these hedge funds. | ||
| One thing I want to explain to everybody is that when you have a long position, right? | ||
| You buy a stock, you invest in a stock, you know that the lowest it could go is zero, right? | ||
| So that's the amount of money you could lose. | ||
| But when you have a short position, because you have to return the stock eventually, you've got to cover, that means there is infinite potential upside risk. | ||
| Downside risk. | ||
| Okay, let's bring in Boris Epstein. | ||
| People know Boris is one of the pro-President's lawyers. | ||
| He's actually a Wall Street guy. | ||
| Boris, you've been around the street a long time. | ||
| Tell us what's going on and why is the institutions of Wall Street, particularly CNBC, is losing it? | ||
| The anchors there don't know. | ||
| Andrew Roar Sorkin, our good buddy Joe, on the morning show. | ||
| You've had all the anchors through the day. | ||
| They're in meltdown because you kind of have the unwashed masses are now loose in the... You think they consider the... Here in DC, Nancy Pelosi thinks the Capitol is sacred ground. | ||
| They think the floor of the New York Stock Exchange is really sacred ground. | ||
| They don't want the unwashed masses there. | ||
| I could probably never figure this out. | ||
| Yeah, this is fun. | ||
| The chat room at Reddit figured out what Occupy Wall Street. | ||
| Don't sit on the grates. | ||
| Go into the trading room. | ||
| Boris, what's happening? | ||
| Well, here's what's happening. | ||
| It's very interesting. | ||
| So, as you were just talking about, right? | ||
| Going long on a stock means you believe in a particular stock, and you buy it, and you think that the fundamentals are good, or you think it's going to do well, or there's something that's going to go right in the future. | ||
| If you're shorting a stock, that means you're betting on the company to go down and not do well. | ||
| So, GameStop's a good example. | ||
| GameStop is a, you know, at this point, old-school American company, and there were hedge funds that were coming in and shorting it, betting for it to go down. | ||
|
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And you've had some people seemingly with a... But hang on for a second. | |
| Hold on, hold on, hang on, hang on. | ||
| This is a brick and mortar game retail shop that's fallen on tough times even before the CCP virus, even before the coronavirus. | ||
| It's kind of like Blockbuster for video games. | ||
| It's kind of Blockbuster for video games. | ||
| This company, I've been in the entertainment business, this company stumbled around for years. | ||
| What happened is that some gamers or some guys in Reddit liked the stock, liked the story. | ||
| They did some quick and dirty analysis, said it's trading at a fraction of its book value, although book value is very ephemeral. | ||
| Not many guys trade on book value. | ||
| They started buying the stock. | ||
| The stock started going up. | ||
| That's when the shorts really got involved. | ||
| And here's what happened. | ||
| Here's what happened. | ||
| The little guys continue to pile into this. | ||
| They said it's the difference between fighting one Mike Tyson and a thousand little mini Mike Tysons. | ||
| They view it as a game. | ||
| They understand game. | ||
| They understand game theory. | ||
| They look at these things as opponents. | ||
| They understand how to game a system. | ||
|
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That's how you win video games. | |
| Hedge funds are supposed to know that too, right? | ||
| So when you pick a fight with the guys who literally sit around playing games all day, what are they going to do? | ||
| Boris, hedge funds when they short and take short positions. | ||
| Go ahead. | ||
|
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Yep. | |
| Let's not bury the lead either. | ||
| And I'm in New York City right now, actually. | ||
| I'm in the heart of it all. | ||
| Let's not bury the lead. | ||
| Elon Musk came in and pretty apparently backed this process. | ||
| He backed this movement. | ||
| So, so, you know, it's, it's, so it's not just, you know, million jewel beer can, it's, you know, you got, you got, uh, you know, the little guys, you've got the populous guys, and then you've got the guy who's effective right now, the richest guy in the world, the one of the top two or three, coming in, hey, I'm in! | ||
| So, so what happened was, the, the shorts, the hedge funds who are shorting, who are betting on the stock to go down, And as you explain, what you effectively are doing is you are borrowing the stock, and then you buy it back later, and then you hope that the price goes down, right? | ||
| So, a short is a bet on a business to go down, a long is a bet on a business to go up, and today, the shorts on Wall Street are having a bad day. | ||
| Okay, this is, I want to connect some dots here for the audience, put you ahead of the curve here. | ||
| Remember, Donald Trump's President of the United States, one of the reasons he disintermediated, that's a Harvard Business School term, he disintermediated the mainstream media by social media and Twitter. | ||
| And a lot of these were in these Reddit chat rooms, a lot of the memes generated from the chat rooms. | ||
| He could go over the head of the mainstream media. | ||
| He didn't even need Fox News to get us, he could tweet out something, people would pick it up and spread it. | ||
| What you're seeing here, and the reason the White House is saying they're watching it, the Chairman of the Federal Reserve actually had comments on it. | ||
| They said, hey, I don't normally talk about stocks, but we are reviewing it. | ||
| Yellen's talking about it. | ||
| Boris, correct me if I'm wrong, they're talking about suspending trading for other stocks that the Reddit army is popping into. | ||
| Here's the reason. | ||
| They don't want to disintermediate the hedge fund, the structure of Wall Street, that you have to put your money into a mutual fund, you have to put your money into a hedge fund, that the little investor has always been kind of the marginal guy. | ||
| The last thing they want to see is the disintermediation of the system, the way the Wall Street Journal tells you how to think, the Financial Times of London tells you how to think, Okay, how the business media tells you how to think, how you must go through Goldman Sachs, you must go through JPMorgan, you must give your money to Melvin Capital. | ||
| Melvin Capital is going to take a 2% management fee and 20% of the ups, right? | ||
| But you have to do it because you're a moron, right? | ||
| All we want you to do is keep your mouth shut. | ||
| Put, put your money in your pension fund money. | ||
| And that's, oh yeah, we lost three and a half billion dollars, right? | ||
| Maybe we'll have to not rent this. | ||
| They're not even, they're not even using Schwab. | ||
| They're using Robin hood, which is this, this is my point. | ||
| Free based. | ||
| Now that you say that, but it's not, it's TD Ameritrade, shut it down. | ||
| Shut it down. | ||
| TD Ameritrade is supposed to be the place where you can buy and buy and sell. | ||
| And then, you know, short and buy options on, on any stock out. | ||
| There's supposed to be a free marketplace. | ||
| But they put restrictions on GameStop and on AMC. | ||
| The others which seem to be impacted are BlackBerry and Nokia. | ||
| So, you know, what you're seeing effectively is these more old-school stocks that were maybe hot in the late 90s, early to mid-2000s, which were being shorted on, and these hedge funds were making a nice amount of money on by shorting them. | ||
| But, you know, obviously these funds are making their 2 in 21 way or another, so what are they upset about, really? | ||
| They're home. | ||
| They bring in your money. | ||
| They're already home. | ||
| Whatever happens on the upside doesn't really matter because they're living on that 2% management fee they're getting. | ||
| So, you've now had the populace come up and say, okay, you've got all these shorts. | ||
| We're going to trade up these stocks. | ||
| Now, as a licensed registered representative, I will say, and I have to say this, I am not I'm not advocating, I'm not giving stock advice here, I'm just analyzing what I'm seeing in the market. | ||
| And what I'm seeing in the market is that the regular Americans, the people from Rochester, the people from Albany, the people from outside of Pittsburgh and all throughout America, that's who right now is impacting these stocks. | ||
| And then you've got Elon Musk who's now come in and said, But hang on for a second. | ||
| Just to understand something. | ||
| So it's a very interesting amalgamation, very interesting constellation of interests between somebody and Elon Musk, who let's be honest, is not a regular financier. | ||
| He's always been a bit of a cowboy and the Maca populace. | ||
| But hang on for a second, just to understand something, at zero interest rates, the working class people and particularly this Reddit nation, they're all serfs. | ||
| They can't accumulate capital because you don't get anything on saving. | ||
| The traditional thing of saving for a rainy day, you're actually paying the bank money to hold your money. | ||
| We've socialized all the risks, all the bailouts Wall Street got. | ||
| The little guy didn't get a bailout in 2008. | ||
| By the way, with quantitative easing and these interest rates going to zero, it's another bailout for Wall Street. | ||
| Wall Street has capped their downside and has unlimited upside. | ||
| That's the unfairness of the system. | ||
| This is not conspiracy, ladies and gentlemen. | ||
| This gets to the heart of what the problem with the system is. | ||
| The elites take care of themselves. | ||
| Their their uniparty down here always bails them out. | ||
| The Federal Reserve, they have basically, I used to call it a Green Stuff put, right? | ||
| They have a Federal Reserve put, right? | ||
| So you're always capturing your downside. | ||
| You have unlimited upside. | ||
| So if you make mistakes, you get bailed out. | ||
| Like Melvin Capital got bailed out by Citadel. | ||
| You always get bailed out. | ||
| The little guy never gets Well, you know what you'll appreciate, too, is that, do you know who one of the first people was who was in on this actually months ago? | ||
| It was Michael Burry. | ||
| From, if anyone's seen The Big Short, this guy is the star of The Big Short. | ||
| He was the guy who saw it coming. | ||
| Christian Bale's guy, right? | ||
| Christian Bale's guy, yeah. | ||
| Boris, what do your guys on Wall Street tell you right now, the institutional guys? | ||
| How worried are they? | ||
| They've already got the SEC investigating this. | ||
| They've got the Fed all over this. | ||
| They've got the new Secretary of Treasury all over this. | ||
| The White House is talking about it. | ||
| They're talking about suspending these stocks. | ||
| The last thing they want to see is the Reddit army in these stocks right now. | ||
| CNBC had a meltdown this morning. | ||
| What are your sources telling you? | ||
| My sources are telling me that there's a considerate amount of angst, because right now you're dealing with four stocks in GameStop, AMC, BlackBerry, and Nokia, but there's no telling where it goes from here. | ||
| So, the concern is, and here's what's interesting, right? | ||
| The concern is that more stocks are going to get popular because of these discussions. | ||
| Now, everybody, again, would advise those who are participating to be aware of some manipulation rules, because as we are talking about the NASDAQ and TD Ameritrade potentially manipulating the market by stopping the trading, you also have to be careful about buying jointly and manipulation rules around that. | ||
| There's a lot of trust Steve, you know better than anybody, there's a lot of rules and regulations that have been put in place to keep the little guy down, I believe. | ||
| Hold it, hold it. | ||
| This is the irony. | ||
| This is the irony of this. | ||
| Ameritrade was started by Joe Ricketts. | ||
| He's been one of the great supporters of the conservative cause. | ||
| Pete Ricketts runs the RNC Finance Committee. | ||
| His son is the populist governor of Nebraska. | ||
| Joe Ricketts, Ameritrade was bought by Toronto Dominion. | ||
| He started for the little guy to be able to trade stocks. | ||
| Ameritrade was always the place to go that the little guy that had no capital can open an account for nothing and basically trade stocks. | ||
| They're trying to shut that down. | ||
| By the way, our engine room in the Worm Room is telling me that the subreddit community's description is like, quote, 4chan found a Bloomberg terminal. | ||
| I don't think anything says it better. | ||
| Hey, there's a populist revolt on Wall Street and the establishment doesn't like it. | ||
|
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The system is rigged to the hedge funds, ladies and gentlemen. | |
| You want to talk about the Bloomberg terminals, right? | ||
| Let's go through those Bloomberg terminal messages because one of the things, the reason Michael Bloomberg is a billionaire is because he was selling to the street on these terminals. | ||
| Let's go through those messages. | ||
| Let's look for any of these mutual buying that's going through on the Bloomberg terminals. | ||
| We can see Reddit. | ||
| Can we see those? | ||
| Real quick, here's another key point. | ||
| Just to be able to buy one of those Bloomberg terminals, a regular American would need to sell an arm and a leg. | ||
| The barrier to entry has been put so high, and what you're seeing now is a lowering of the barrier to entry, and somebody in myself who believes in the American dream, who believes in opportunity, I love it. | ||
| And you know what? | ||
| I hope GameStop does great, because if we can put a good American company in a good place, that's a benefit for everybody, more jobs for the American people. | ||
| CNBC Today, Aaron Ross Sorkin said they were being attacked. | ||
| They were being attacked because people were buying the stock and going long the stock. | ||
| Last time I looked, that's not an attack. | ||
| The attack is when you short the stock. | ||
| Boris, you've got 30 seconds. | ||
| What's your social media coordinates so people can get you? | ||
| Thanks so much, Steve. | ||
| I'm on Twitter at BorisEP. | ||
| I'm on the Gram. | ||
| Blown up on the Gram. | ||
| Huge rise and falling. | ||
| Boris underscore Epstein. | ||
| Boris underscore EPSHTEYN on Instagram at BorisEP. | ||
| God bless. | ||
| Stay strong. | ||
| And let's follow this populist uprising. | ||
| It is extremely interesting and, frankly, exhilarating what's happening on Wall Street today. | ||
| Okay, we're going to go from the sublime to the more sublime. | ||
| The 1776 Commission was shut down by executive order of Joe Biden's first couple days. | ||
| He said, reason? | ||
| It's all a big lie. | ||
| Carol Swain, the vice chairman here next to tell us about it. | ||
|
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We rejoice when there's no more. Let's take down the CCD. | |
| War Room. | ||
| Pandemic. | ||
| With Stephen K. Bannon. | ||
| The epidemic is a demon and we cannot let this demon hide. | ||
| War Room. | ||
| Pandemic. | ||
| Here's your host, Stephen K. Bannon. | ||
| OK, we're going to have Steve Cortez and others on tomorrow morning. | ||
| This story is very, very, very important. | ||
| We know we laugh about it, but the story about our capital markets, about the populist revolt of the Red Army is a very, very important story about the structure, the power structure in this country. | ||
| We're going to do a lot more to deconstruct it tomorrow, as only The War Room can. | ||
| One thing to note, though, when we talk about GameStop going long, GameStop was almost bankrupt. | ||
| It was almost going to be liquidated. | ||
| The company's market cap today at the close of market is $24 billion. | ||
| The company could actually issue equity next week and start to fund jobs, get into a whole new business, redo the old bricks and mortar business. | ||
| The stock being up, you know, they're going crazy about it, but the stock today, at least the company can survive. | ||
| They could issue equity at a much higher price than they could before. | ||
| So there's many benefits here. | ||
| Obviously, there's some concerns, but what you're seeing is the establishment coming together because the unwashed masses. | ||
| Are doing what the establishment does. | ||
| Wall Street's been a casino for 30 years, ladies and gentlemen. | ||
| It's been a casino for 30 years, okay? | ||
| And now that the little guy's getting benefit for it, real quick. | ||
| I just got a message from my White House source. | ||
| The Biden team doesn't know what to make of the GameStop situation. | ||
| Totally clueless. | ||
| They had to call up to connect at Jeff Sprecher's office to explain, and they still don't get it because even he doesn't understand it. | ||
| Jeff Sprecher is the head of the New York Stock Exchange, Kelly Loeffler's husband. | ||
| Now, I want to go to something very serious. | ||
| The 1776 Commission, we had Dr. Carol Swain, the vice chairman of the 1776 Commission on here at the end of the President Trump's first term a week ago. | ||
| A few days later, an executive order was signed by Joe Biden, basically undoing, shutting down the 1776 Commission. | ||
| What was most egregious when I saw that is he said it was based upon a lie. | ||
| We decided to bring Dr. Carol Swan back in here, Dr. Swain. | ||
| Doctor, here's the question. | ||
| The 1776 Commission, if you read your report, to me, it's quite brilliant and very moving. | ||
| What was it that caused Joe Biden to say it was based upon a lie and all you guys told was lies? | ||
| Do you understand what he was trying to get across? | ||
| Well, first of all, I don't believe that he read the report or maybe any of his people. | ||
| He went after us because our report Directly challenges the lies that are in the 1619 Project that the New York Times put out. | ||
| And so I'm not surprised that the political left would go after us. | ||
| I'm disappointed that President Biden, who uses the word unity and he's going to bring us together and right out the gate on day one, he goes after the 1776 Commission. | ||
| That says a lot about his character. | ||
| And the fact that he is a puppet of the left. | ||
| Doctor, can you explain the 1619 project has gotten so controversial and Joe Biden looked like he embraced it yesterday on his equity speech. | ||
| What is the underlying tenets of the 1619 project and how did Biden encapsulate it in his talk yesterday? | ||
| I can tell you that the 1619 project is based on critical race theory. | ||
| And critical race theory is Marxist to its core. | ||
| It divides the world into oppressors and the oppressed. | ||
| And when it comes to race relations, it is white people that are the demons that oppress people of color. | ||
| When it's male, female, it's men, particularly white men, oppressing women. | ||
| And so Joe Biden, he attacked our commission's report in his speech yesterday. | ||
| As being false and he wants to bring about racial equity. | ||
| He signed an executive order for Asians. | ||
| I think that's great. | ||
| He should sign an executive order that would end the discrimination in elite schools against Asian students who tend to score higher than anyone else, but he'll never touch that. | ||
| And when I look at the things that he pushes, It's things that will further divide the country. | ||
| And the 1619 Project argues that America is racist to the core. | ||
| It's in its DNA, that it was built on the backs of slaves. | ||
| And we know that the United States of America had a birth date, and that was 1776. | ||
| It was not 1619. | ||
| It was not 1619. | ||
| In 1619, we were a British colony. | ||
| And if you look at the South, where most of the slaves were, it was like a third world country up until the 1950s. | ||
| And so to say that slavery defined America leaves out a lot of history, including the fact that there were thousands of free blacks, many of them held slaves. | ||
| There were Native Americans that held slaves. | ||
| Slavery may be America's original sin, but there were a lot of people who participated in it. | ||
| Doctor, I have a question. | ||
| You're considered one of the top intellectuals on the right. | ||
| That's the reason you're the vice chair of this commission. | ||
| Now that it's been shut down, the executor has been signed by the president. | ||
| What would be your recommendation to our audience, the activists in our audience? | ||
| What would be your recommendation of how they continue the work that you started? | ||
| Well, first of all, they can download the report and I would urge everyone, whether you're on the left or the right, and I know there are leftists that are watching your show, read the report for yourself. | ||
| And the 1776 Commission no longer works under the auspices of the U.S. | ||
| government, but we will stay in business. | ||
| And I'm not sure yet where we will land as a home, but we will continue our work. | ||
| And so that was a lot we had planned to do over the two years. | ||
| That report that was issued on the 20th, on the 18th, that was just the first part of our work. | ||
| OK, so we're going to want to bring you back and have you walk through. | ||
| Our audience would love that. | ||
| They would love to participate. | ||
| They would love to assist in your work going forward. | ||
| But the news today is you're telling us the 1776 Commission is not going to disband. | ||
| You're committed to this. | ||
| You're committed to getting this in front of the American people and driving this. | ||
| Is this what I'm hearing? | ||
| Because we would love to have you back when the plans are solidified. | ||
| Doctor, our audience would love to get in the back of this. | ||
| Can you tell us right now, what's the easiest way to get to you? | ||
| What's your social media accordance so our audience can keep up with your thinking? | ||
| Well, my website is BeThePeopleNews.com. | ||
| Instead of We The People, it's BeThePeopleNews.com. | ||
| For now, I'm on Twitter, at Carol M. Swain. | ||
| Facebook, Dr. Carol M. Swain. | ||
| And I'm on YouTube with my show, Conversations with Dr. Carol Swain. | ||
| And so I would urge you to subscribe to my newsletter, follow me. | ||
| We will make America great. | ||
| And if President Trump is out there watching, a shout out to you. | ||
| We love you. | ||
| We miss you. | ||
| And we are behind you. | ||
| Dr. Carole Swain, you're an American original. | ||
| Thank you very much. | ||
| Honored to have you on the show. | ||
| Dr. Carole Swain, one of the driving forces back in the 1776 Commission. | ||
| And she's not going to quit. | ||
| She's a fighter. | ||
| She's been a fighter from day one. | ||
| Dr. Swain, thank you very much. | ||
| Okay, we're going to be back tomorrow morning. | ||
| We'll be back here tomorrow afternoon. | ||
| Uh, tomorrow we're going to talk about the capital markets and the democratization of the capital markets and how Wall Street hates it. | ||
| As much as DC hates the deplorables, they hate the Reddit Army. |
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