Feb. 1, 2021 - Bannon's War Room
48:06
Participants
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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. | |
| So you don't want to frighten the American public. | ||
| 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, that this is going to be a real serious problem. | ||
| France, Australia, Canada, the US, Singapore, Cambodia, Vietnam, the list goes on. | ||
| Health officials are investigating more than a hundred 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 and the worst happens, War Room. | ||
|
unidentified
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Pandemic. | |
| Here's your host, Stephen K. Banham. | ||
| Welcome live from a very snowy, icy, occupied zone in our nation's capital, kind of the mini green zone here on Capitol Hill. | ||
| You're in the War Room. | ||
| It is Monday, 1 February, the Year of Our Lord 2021, with a podcast, one of the top podcasts in the world, with over 32 million downloads. | ||
| Remember, the podcast is just the way we put it up after the show. | ||
| We're live on Dish Channel 219, Comcast Channel 113. | ||
| On Real America's Voice, the great streaming service of the Trump Revolution, John Frederick's radio network throughout the nation, Rumble, Roku, Pluto, every distribution apparatus you can get on Telegram and in Rumble, Gab, everywhere. | ||
| Also you can go to warroom.org, slash join, you can get the newsletter, you can get the show notes, all of it. | ||
| As this show metastasizes, it's become the largest show about populism and economic nationalism throughout the globe. | ||
| I want to thank. | ||
| We're simultaneously broadcast in Mandarin on G News and GTV for the diaspora of the Chinese people, hundreds of millions throughout the world, and also blown through the firewall later in the day into mainland China. | ||
| We're talking about what's happening in Burma and the situation with the PLA in this first foreign policy geopolitical crisis of the Biden administration. | ||
| We've got Former Governor Eric Greitens joins us, The Real America's Voice, great host in the afternoon. | ||
| Raheem Kassam, my co-host here in the War Room. | ||
| I want to go immediately to Texas and the great Attorney General at the front line of working with the Biden administration when they need to be worked with and also standing up and confronting them when they do something illegal or unconstitutional and that's what General Paxton, Ken Paxton, told us and told the world on the very first day, in the very first hours of the Biden administration. | ||
| But before we get to that, Attorney General Paxson, you became really, I think, kind of an icon to the Trump movement and to the American people that believe in the Constitution when you put forward this bold idea of this lawsuit during the time from November 3rd until January 6th. | ||
| And, you know, other states, I think 19 states signed amicus briefs are joined in. | ||
| The New York Times has put their top team, I think, Rutenberg, you know, Joe Becker, Maggie Haberman, right, all the killers, right, were put on this thing. | ||
| It's their big story. | ||
| It's 9,000 words, front page today, the 70, 70, 7, 7, the 77 days, the chaos. | ||
| And you can tell as the Democratic Party propaganda rag for the far left of the Democratic Party, they're making the case for Jamie Raskin and these guys that just don't look at the rally, because the rally is kind of dicey about how did he really instigate a violent insurrection. | ||
| You've got to go back to his language over all of his career, and then you've got to focus on from November 4th on how he duped these rubes That are the 74 million people that voted for him, 85% of whom now believe this was illegal, illegitimate, that Biden's question, that's why 40% of the American people now question it. | ||
| It's taken away the political capital of Joe Biden. | ||
| So I want to first go to the New York Times. | ||
| Specific assertions and accusations against you, sir, about your concept of this and your coming out of the lawsuit. | ||
| Just refresh our audience. | ||
| What did you do in this process to kind of be at the forefront of trying to sort out this mess that happened on November 3rd and particularly about the lawsuit? | ||
|
unidentified
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So we've been involved in this process really for a year because we were defending 12 lawsuits that related to the mail-in ballots across our state, you know, different counties, Different courts, federal court, state court, we were under assault just like these other states were, except we fought it up front. | |
| We won every single one of those cases. | ||
| So when I saw what was happening in this election, I knew exactly what I was seeing, which was these were states that hadn't followed their state law and that there was no way that we could credibly know whether Joe Biden got those votes or not. | ||
| And because they destroyed the connection, Well, we'll never really know. | ||
| So, you know, I think a lot of Americans, Texans, have legitimate questions about whether the law was followed. | ||
| We know that, that it wasn't. | ||
| And second, whether this was a credible election. | ||
| So that's how we ended up looking at it after the fact, because I felt like we'd done our work, and now all these other states had failed us. | ||
| So the charge is that, first off, the New York Times goes on and on about how you were trying to take away, I think, 20 million votes from other voters in other states. | ||
| What's your response to that? | ||
| That your theory of this was so radical that you were actually, and of course they imply the nativism, the racism, all that, but you were taking away really legitimate votes from other states in the way that you pursued this. | ||
|
unidentified
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So all I asked was that the Constitution be followed. | |
| I know that that's a radical idea for the New York Times. | ||
| That's all I was asking for. | ||
| state law be followed because the Constitution requires that the legislature set the rules for this. So yes, if following the Constitution is a radical idea, then I admit to it. But other than that, all I was asking was that the rule of law mattered in an election and that people could count on and trust that they were legitimate results. | ||
| I might want to add for my next question is that Texas also did the thorough, they blew out Dominion Systems. | ||
| They did the actual, not only was Paxton and Abbott ahead of this, and that's why in Florida and in Texas and places like Missouri, you see people that are ahead of the curve, they get things right. | ||
| Texas is a vast state, right? | ||
| You know, counties are in a vast state and they've got, and they've got, and they had a, you know, the election was done, you heard about it immediately, same in Florida. | ||
| They also went and got and blew out the, and blew out Dominion Systems with a detailed analysis of why they weren't acceptable, right? | ||
| But I want to go to the other charge they make is that the White House, this is really the direction of Trump, they're writing all this thing and they're just looking for a guy that has some stroke that can do this and they go, hey, Paxson, you know, he's crazy, let's give it to him. | ||
| Boom. | ||
| So they just basically drafted it. | ||
| What they're implying is they drafted it at Trump's direction, dumped it to you, and you were just the front guy. | ||
| Is there any truth to that, sir? | ||
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unidentified
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No, this is why I don't read the New York Times, because if I want to read fiction, I can get more accurate fiction in the New York Times. | |
| No, we we draft it. | ||
| We also used outside. | ||
| Like I was watching my lawyers as they worked all night long to get this thing done. | ||
| So that's just fabrication by the New York Times. | ||
| I don't know why they won the election. | ||
| The New York Times won the election. | ||
| And I don't know why they want to keep going back to back to this when they actually We're able to successfully, you know, take the election. | ||
| So, General Paxson, you were the first to come out, I think, on the day of the inaugural, and you came out and said, hey, look, where they're constructive, where they follow the Constitution, we will work with the new administration. | ||
| However, where they do illegal activities or unconstitutional activities, I will, the state of Texas will confront them, and I will confront them for the state of Texas and the country. | ||
| So, in the first couple of weeks, they've had, I don't know, 47, you know, EOs. | ||
| Where do you think we, before we talk about the specifics, overall, What do you think you're seeing from the Biden administration as the Attorney General of Texas? | ||
|
unidentified
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I don't think we've ever seen anything like this. | |
| Obama did a lot of this. | ||
| He was the most aggressive we'd ever seen. | ||
| And the Biden administration is well beyond the aggressiveness of the Obama administration in ignoring the rule of law and deciding that basically he's going to be Congress, a one-man Congress, to issue new laws and to override laws that have been in place for a long time. | ||
| And it's extremely concerning, and the New York Times ought to write a piece about that, and be concerned about the direction of our democracy and whether we really have one anymore. | ||
| Okay, so General Paxson, let me be specific. | ||
| They now, in the Times piece about what they're doing the first hundred days, they've studied closely FDR, his first hundred days, also Jack Kennedy, but they really focus on FDR. | ||
| They're trying to unwind all the Trump administration that we did by executive order, not by statute. | ||
| Just like we tried to unwind, you know, we tried to unwind and did unwind much of the damage done, we thought, by Obama. | ||
| Is your problem that they're very aggressive and trying to be like an FDR and using executive orders to undo what Trump did? | ||
| Or do you actually see, what you said on the first day, illegality and unconstitutional behavior? | ||
|
unidentified
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I do not have a problem with the Biden administration undoing other executive orders. | |
| I remember that Trump was sued for unwinding Obama orders. | ||
| I thought that was crazy. | ||
| If it's an executive order, it seems like the president ought to be able to undo another executive order. | ||
| That just seems very logical to me. | ||
| So if Biden is undoing executive orders that were put in place by another president, I don't really have a problem with that. | ||
| What I have a problem with is Undoing federal law. | ||
| Not following the Constitution, going through the congressional process, letting debate occur, and letting these representatives that all of us have elected make decisions. | ||
| I don't think it's right for the President to undo federal law. | ||
| Okay, let's talk about that. | ||
| Then what is your specific problems? | ||
| What federal laws is he undone at the top of your list? | ||
| You can't go through all of them. | ||
| And how is he trying to legislate or make statutory what he has not fought for and gotten passed just through an executive order, through fiat? | ||
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unidentified
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So we haven't gotten through every executive order. | |
| They're coming out so fast and furious. | ||
| I think that's part of the plan is just put so much in front of us we can't keep up. | ||
| But clearly the one we sued over After only three days of Biden being in office was this idea that he could just ignore federal laws related to immigration and just stop what Congress put in place like he's some unilateral, you know, dictator. | ||
| And that's not how this country works. | ||
| Can I just jump in on that as well? | ||
| There are a lot of executive actions already in the first, what, nine days, ten days, or whatever it is. | ||
| We have every single one of them up on the National Pulse, and I've given a description for people that describes exactly what each order does. | ||
| Put that in the live chat right now, because we want to have Paxson. | ||
| Ken Paxson's at the tip of the spear of this. | ||
| Last question because I know you pressed for time. | ||
| You specifically came out the other day and it looked like you're now getting engaged in this Wall Street fiasco where the little guys are taking on some of these big hedge funds who have fiduciary responsibilities for pension fund money. | ||
| By the way, Melvin Capital's down 53%. | ||
| We're going to start drilling down to what pension funds are taking the hits there because remember the deplorables are on both sides of the trade here. | ||
| So what is your problem right now with what you see going on on Wall Street, General Paxton? | ||
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unidentified
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So my concern is that these little investors have figured out a way to band together and do what I think is legitimate. | |
| They're a force together, and it looks like, and we won't know until we get our questions answered, which is what we're trying to do right now, it looks like these companies protected some of these larger businesses, hedge funds and other funds, and we want to make sure that the little guys get treated fairly in this and that this is not just You know, taking care of the big guys illegally. | ||
| You've been ahead of this from the beginning. | ||
| For our audience, we always try to be ahead of the curve here. | ||
| Look over the other side of the hill, as Wellington told his young officers. | ||
| What do you see coming? | ||
| Like on the suit you've got there now, what should people be looking for when they look to the Attorney General of Texas in Ken Paxton? | ||
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unidentified
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Anything where you have collusion among large companies. | |
| Especially big tech companies, but really any collusion that is to the disadvantage of the consumer and to an administration that decides that they are the law and that they will make new laws and that they will override existing laws. | ||
| When we see that, I think you're going to see us doing our best to take action in as many possible cases as we can reasonably do with the resources we have. | ||
| What do you anticipate right now? | ||
| You've got a TRO on the deportation. | ||
| That's going to play out this week? | ||
| I think you've got it for 12 days, right? | ||
| What's the update on that? | ||
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unidentified
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14 days. | |
| Our arguments are exactly the same on the permanent injunction, which is what we're going to ask for. | ||
| Because we feel like, first of all, we'll win on the merits because clearly he's not following federal law. | ||
| Two, and this is what you have to show to get an injunction. | ||
| Two, we feel like we will suffer irreparable harm if they let this stay in place. | ||
| Well, we're litigating this for the next year or two. | ||
| So we will suffer consequences, and I think we can directly show that. | ||
| We have shown that to get the temporary restraining order. | ||
| So I believe we should be granted also the permanent injunction until we actually get to the merits of the case and show the court that we have been harmed and that this is a violation of federal law. | ||
| General Paxson, how can people follow you? | ||
| How can our audience follow you during the day? | ||
| What's your social media coordinates? | ||
|
unidentified
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You're not going to believe this, but I know, again, at TXAG. | |
| You're betting 400 now. | ||
| Okay, Attorney General Paxson, I know you're very busy. | ||
| Thank you for coming on the show. | ||
| I appreciate it. | ||
| Okay, Gritens, here's the homework assignment. | ||
| We're going to take a short break. | ||
| When we come back, you've been a governor of a red state. | ||
| I want to put you in the seat. | ||
| This guy is at the tip of the spear. | ||
| What is it about being the tip of the spear and what would be your punch list of the two or three things you would go after? | ||
| Where the Biden administration you think is either illegal, unconstitutional, short commercial break. | ||
| I want to talk about Rahim, about the whole thing, about your diary at the National Pulse. | ||
| This is a way to keep up with the Biden administration every second of every day because it's coming. | ||
| Hot and hard. | ||
| Okay, we're going to take a short commercial break. | ||
| We'll be back with Eric Greitens, former governor of Missouri, and Raheem Kassam, my wingman here in the War Room. | ||
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unidentified
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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, we're going to have capital markets today. | ||
| We're going to have geopolitics today. | ||
| We're going to have the vaccine, the whole fiasco there. | ||
| We've got it all, market updates. | ||
| We're going to have one of the top shorts in the world, Dan David, the guy that has broken the CCP, these phony Chinese companies, over and over again. | ||
| He and the guys at Muddy Waters. | ||
| Are the two best in the world. | ||
| They're going to come down and talk to us about the reality of the short squeeze, what it means, what it means to you personally, what it means to your pension fund before I get to Greitens. | ||
| And so we're also talking about Trump's defense in the trial. | ||
| We're going to go through all of that. | ||
| It's all in a strictly linked folks. | ||
| And I want to talk about Ken Paxson, the tip of the spear, how you actually combat. | ||
| Don't believe, and there's a big story in the Politico and I think the New York Times right now about Biden's political capital. | ||
| You heard it here last week. | ||
| They're saying, hey, he's got the same margin kind of on the other side that Trump had, very thin, but he could probably work and just do this. | ||
| You're dead wrong. | ||
| Those numbers are not correct. | ||
| He's under 50% already. | ||
| He has no political capital. | ||
| Why do you think he's got 10 Republican senators going up to the White House today to kowtow, right, oh compromise, to kowtow to him. | ||
| We're going to talk to Greitens about the Senate in a second. | ||
| Rahim, you're doing yeoman's work and this needs to be done. | ||
| Our audience wants facts, they want details, they don't want spin. | ||
| Tell us what the National Pulse is doing so people can stay up to date on what the reality and look, I tip my hat to him. | ||
| I have no problem with him coming in hot like FDR did with the executive orders. | ||
| We tried to do the same thing with Obama. | ||
| We eventually got there. | ||
| Out of the box, the Justice Department kind of hung us up. | ||
| They're clearly not hanging up. | ||
| You know, the Office of Legal Counsel, the OLC, is kind of writing these fairness opinions for them. | ||
| Bang, bang, bang, bang, bang. | ||
| I have no problem with them trying to do it. | ||
| We did it to Obama, did it to Bush, we did it to Obama. | ||
| It's the way without statutory thingies you can actually take action here. | ||
| But tell us about what you guys are doing. | ||
| Do you remember, it was, we had a snowstorm like this in Washington D.C. | ||
| in 2014. | ||
| I remember. | ||
| It was the first time I ever came to this building, that we sit in right now, and the reason I remember it was- The infamous Breitbart Embassy. | ||
| I was skidding my way along from the George Hotel, which is only on Capitol Hill as well, but it's the other side of the Capitol, and falling all over the place, and I get here, and the steps are treacherous, and everything's treacherous, and it reminded me this morning And it reminded me of something you said back then as well. | ||
| You said, hey, I can't hate on Obama for what Obama's done because he's a honey badger and he's being a honey badger and he's acting like a honey badger. | ||
| and that's exactly what this regime is doing now. After the midterm elections he got smoked again he came in the next day and said hey how about this suck on this let's we're gonna do DACA we're gonna do everything he had a punch list John Boehner sitting up there like you know had about four bourbons and you know nine o'clock in the morning and and and Bahma had a hit list of 10 things said hey how about this remember the pen and the phone. Got a pen got a phone Exactly. | ||
| Got a pen, got a phone, suck on that. | ||
| Don't like that? | ||
|
unidentified
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Tough. | |
| And these guys are doing the exact same thing now as well. | ||
| This is part of the Obama playbook. | ||
| So what I made sure that we do every day at The Pulse is give people the signal in one article. | ||
| You can go on the website and you can see day one, day two, day three, and it's everything that they do day by day that matters with links to everything that's going on. | ||
| And in addition to that, I noticed last week that nobody had bothered to go through, or we were all complaining, executive orders, executive actions, but nobody had bothered to go through all of them and describe them, exactly what each of them did. | ||
| So we did that one as well. | ||
| You can see the radical agenda, it's all there. | ||
| This is why the polling is going to go down as you expose it and confront it. | ||
| I want to turn to Eric Reitens, former governor of Missouri, of Red State. | ||
| And by the way, the folks in Missouri represented on November 3rd. | ||
| The spread there is amazing. | ||
| That is a red state and that is Trump country. | ||
| If you were governor today with your AG, give us your punch list of how you would confront this. | ||
| Well, the first thing that you have to do as governor is that you have to recognize that just because somebody has an R behind their name does not mean that they are on the side of the American people. | ||
| Just because somebody has an R behind their name. | ||
| And even when you have a tremendous amount of support for President Trump in the state of Missouri, that doesn't mean that Republicans are out there actually fighting for them. | ||
| You need to have a governor who's going to let everybody know, every statewide office holder, everybody in the state legislature, that you're going to be held accountable. | ||
| We have to have Republicans who are willing to stand up and fight against the establishment. | ||
| Because one of the things that I found as governor is that you have an incredibly powerful establishment. | ||
| And it is this cabal between politicians and lobbyists and insiders. | ||
| And they have corrupt tax credit programs. | ||
| They have corrupt insider schemes. | ||
| These are all of the things that President Trump got up and he fought against in Washington, D.C. | ||
| And you have to have leaders who are willing to stand up and fight. | ||
| So one of the first things that you have to do is you have to stand up and say, look, this is what this party is about. | ||
| We're about supporting the American people. | ||
| We're not about supporting lobbyists. | ||
| We're not about supporting insiders. | ||
| And we're willing to fight. | ||
| Second thing, number two, One of the things that we did so successfully when we were in Missouri was that we defeated Antifa. | ||
| And one of the things that we have to do, Republicans have to do, is that you have to stand up very clearly. | ||
| And what we did, Steve, it was quite simple. | ||
| That's not easy to stand up to them because they're very intimidating, right? | ||
| Well, they will come after you. | ||
| They will come after you. | ||
| This is a regime that is engaged in and purposefully works to... But you're a Navy SEAL. | ||
| You're a Navy SEAL. | ||
| We've got a lot of veterans, but you're a Navy SEAL. | ||
| You can look a guy down and say, hey, forget it. | ||
| If you're not a Navy SEAL, do you need that inner resolve? | ||
| Because Antifa, these guys are brutal. | ||
| They are brutal. | ||
| But at the end of the day, if you signed up and you put your name on the ballot and you are running, then it is not about you. | ||
| It's about the people who you're going to fight for. | ||
| And the fact is, when Antifa comes, they are ready to burn cities down. | ||
| They will loot. | ||
| They will riot. | ||
| They will assault peaceful people engaged in prayer. | ||
| And the problem is not just what leftists are willing to do and not just what Antifa is willing to do. | ||
| It is the cowardice of the Republican establishment, oftentimes, that lets them get away with it. | ||
| When I was governor, we were very clear. | ||
| Number one, we said everybody has the constitutional right to freedom of speech and freedom of assembly. | ||
| We said, and if you are out there and you are exercising your constitutional rights, law enforcement officers are going to be out there and they're going to protect you. | ||
| And that's exactly what we did. | ||
| But we're also really clear that throwing a brick through a window is not free speech. | ||
| You assault a law enforcement officer, you're going to be arrested. | ||
| So, we have to win this fight on the front lines. | ||
| So, if you were out there in Oregon, in Portland and Seattle, what would you do? | ||
| Those are obviously out of control. | ||
| So, what would you do? | ||
| Yeah, absolutely. | ||
| So, I'll tell you what we did. | ||
| So, first of all, you bring in the National Guard. | ||
| Why is it important to bring in the National Guard? | ||
| You can have the National Guard protect places like Fire stations, police stations, etc. | ||
| What does that allow you to do? | ||
| It puts more manpower on the streets. | ||
| You get your men and women in law enforcement out there on the street. | ||
| Number two, you create absolute clarity. | ||
| And the clarity is that the moment somebody throws a brick through the window, they get it. | ||
| Okay, let me ask you for some clarity here where we can't get. | ||
| We've seen DeSantis and Abbott start to stand up for this. | ||
| If you're a governor and they make the National Guard request for the 25,000 combat troops, it's like Lincoln asking for them, and this is the thing, it wasn't, it was Fort Sumter, but it was also Lincoln bringing the, you know, asking for troops to come here, right? | ||
| That's the thing, got everything, it started to, the kinetic parts started to roll after that. | ||
| They make a request of you as a governor. | ||
| You've got 25,000 troops here. | ||
| You didn't see it last week. | ||
| I mean, this was the green zone. | ||
| You've seen Iraq and Afghanistan. | ||
| It's embarrassing and humiliating. | ||
| What information and what would you demand? | ||
| The Santas and Abbott are saying right now, there's 7,000 National Guard here. | ||
| They've got not just the barbed wire, the razor wire. | ||
| What would you demand to see today? | ||
| Not just IC chatter. | ||
| What receipts would you demand? | ||
| One, for me to have Missouri troops here, the National Guard, and number two, this whole purging Number one, show me the intelligence. | ||
| Show me the intelligence that shows that there is a real threat that is demanding that we have more troops here in Washington D.C. | ||
| than we have in Afghanistan. | ||
| You show me the intelligence that helps me to understand that that makes military sense. | ||
| That there is a bigger threat here in Washington D.C. | ||
| than there is in Afghanistan. | ||
| Look, the fact is that we have to have leaders who are willing to stand up against the Biden administration. | ||
| And the fact is, it's very clear when you look at that inauguration, he was out there talking about, we the people, this is a fight for all the people. | ||
| And yet what happened? | ||
| The American people were nowhere to be seen because they were kept away from the inauguration by fences and barbed wire. | ||
| And also lack of interest. | ||
| I mean, how eerie was that on inauguration day? | ||
| It's scary. | ||
| It's scary, Steve. | ||
| I mean, it's truly scary. | ||
| People use that word when you saw what happened. | ||
| And look, I spent a lot of time overseas. | ||
| I've worked in Bosnia, Rwanda. | ||
| I've worked in Cambodia and Albania. | ||
| I've been in Afghanistan, in Iraq. | ||
| What happened on Joe Biden's inauguration, that is not the United States of America. | ||
| That is not the United States of America. | ||
| I want to go back to the EOs and jump in here, Rahim. | ||
| You see Paxson's got a plan in Texas, right? | ||
| Where it's not illegal, fine. | ||
| It may not like it, but hey, you've got to write for an executive order. | ||
| Where it crosses illegality against federal law, or we think it's unconstitutional, not only are we going to be in your grill, we're going to be the first one in your grill. | ||
| We're going to file first. | ||
| What would you do if you're still in Missouri with your AG to say, we've got to be at the forefront of this? | ||
| Let me give you a couple specific examples. | ||
| One of the things that the left loves to do is that they love to suspend laws that they don't like. | ||
| All right? | ||
| We have a constitution. | ||
| Laws are passed. | ||
| When those laws are passed, it is the duty of the executive branch to enforce the law. | ||
| What happens when Biden comes in? | ||
| Biden comes in, he says, you know what? | ||
| We're not going to enforce the Immigrations and Customs Enforcement laws. | ||
| that are making sure that we're keeping our community safe. | ||
| Look, if he doesn't like the law, he needs to go and change the law, but the executive doesn't get to decide that they're not going to enforce it. | ||
| We saw the same thing, and you saw the consequences of it all through the summer, because what happened? | ||
| You had these George Soros-funded leftist prosecutors in all of these cities. | ||
| Like in Missouri? | ||
| Yes, in Missouri! | ||
| They wouldn't enforce the law! | ||
| They would enforce the law, so people are out there, and you had Antifa and Black Lives Matter assaulting peaceful people engaged in prayer. | ||
| No charges. | ||
| You had people looting. | ||
| No charges. | ||
| You had people engaged in arson. | ||
| There were no charges. | ||
| The statue of St. | ||
| Louis in St. | ||
| Louis is disgraceful. | ||
| It's disgraceful. | ||
| It's disgraceful. | ||
| I had friends who were out there praying, doing the rosary around that statue. | ||
| It's a disgrace. | ||
| And then they came in and they were beaten. | ||
| And then what does the left do? | ||
| The left says, well, we're not going to enforce the law. | ||
| You can assault those people engaged in prayer. | ||
| You can burn down these businesses. | ||
| You can engage in that looting. | ||
| And it's just not right. | ||
| Okay, Grayton's going to be here for the whole first hour. | ||
| Raheem, we're going to jump back to you. | ||
| By the way, real quickly, National Pulse. | ||
| Hat up, people. | ||
| It's in the live chat. | ||
| I want everybody in the live chat to get up on the ramparts today. | ||
| This is Fight Week. | ||
| National Pulse, how do you get to this thing on the Eos? | ||
|
unidentified
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It's on thenationalpulse.com. | |
| It's one of our lead stories right now. | ||
| You can find it on the home page of thenationalpulse.com. | ||
| Details, details, details lead to action, action, action. | ||
| Remember, we're winning. | ||
| The amnesty bill. | ||
| They wanted two things to radically change. | ||
| Mail-in ballots and amnesty bill. | ||
| Amnesty bill dead in the water already. | ||
| They're going to try to break it up into pieces. | ||
| That's because of you, this audience. | ||
| Short commercial break. | ||
| Markets are on fire. | ||
| Dan David, one of the top shorts in the world, is going to be joining us next in the War Room. | ||
|
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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. | ||
| Producer, camera, I want to make sure Denver gets up, not for now, but later. | ||
| The leads during the New York Times, 77 days for chaos, because this audience, the great audience of... Oh, here it is right here. | ||
| I'll actually pick it up. | ||
| You can see it right here. | ||
| The lead story in the paper of record of our beloved country, the New York Times. | ||
| 77 days, Trump's campaign to subvert the election. | ||
| And the War Room posse gets a, I don't know, a co-starring role. | ||
| So there it is right there. | ||
| That's the headline. | ||
| You can see it right here. | ||
| Yeah, I like the newspaper. | ||
| Let's get a shot of Steve with the newspaper out. | ||
| It's a much better shot. | ||
| I'm a hard copy guy. | ||
| I gotta get my papers every day. | ||
| I'm a hard copy guy. | ||
| I've read the New York Times since I was 10, so I was a paper boy. | ||
| Know thy enemy, as Ken Paxton said. | ||
| Okay, we're going to get into that later because it's a 9,000 word piece with the three of their top assassins, Maggie Haleman, Joe Becker, and Jim Rutenberg, and others, right? | ||
| Oh, Jonathan Martin, they got them all there. | ||
| All the devils, all the devils getting around poor President Trump. | ||
| That's where we got to fight back. | ||
| Fight Club next week. | ||
| Okay, I want to now go to the capital markets. | ||
| It's one of the things we're proudest about this show is we tie all of it together. | ||
| The pandemic, the global geopolitical crisis, the economic crisis that triggered the financial capital markets crisis, the politics, the geopolitics and the cultural. | ||
| I think it's the only show in the world that can do it. | ||
| Now, Dan Davids is one of the most sophisticated Wall Street guys around. | ||
| The reason we've been on the platform with Dan and known him for years and talked to him, he and Muddy Waters, the organization over there, Are the two most sophisticated guys about finding bogus Chinese Communist Party companies and really shorting them. | ||
| And the reason is that these guys make, remember they're not held by the same standards of American entrepreneurs. | ||
| You in the audience that, you know, the whole thing of populism is to get a piece of the action, right? | ||
| Just a piece of the action. | ||
| Entrepreneurs out there that try to use the capital markets, whether it's venture capital, private equity, then going public, are at a major disadvantage to the Chinese companies. | ||
| The reason is they don't even come close to playing by the same rules. | ||
| No Sarbanes-Oxley, no accounting, no auditing, it's all, as Dan David goes through, Some of these companies are complete shams and they've raised tons of monies in reverse mergers and billions of dollars have literally just gone in guy's pocket. | ||
| They have a famous thing they got one they had a Chinese guy was like CFO of like nine companies right he was the standard guy just ripping guys off. | ||
| Dan Davis is a short he knows what's going on now with this revolt of the kind of the Reddit rebels versus the Wall Street institutions. | ||
| The reason we're covering this so intensely this is a whole different aspect of populism as it gets in the financial and capital markets. | ||
| But It's not, you've got to be very savvy and kind of very smart on how you do this. | ||
| One of the powers of Wall Street Bets is crowdsourcing of analysis, like you saw in the election, can get some pretty smart guy on a faculty at MIT can throw in there, or the professor out in New Mexico State, Clements, that can come in and actually, you know, go through things in a crowdsourcing who had never been talked to by, you know, the powers that be, the institutions. | ||
| The thing to watch out for, and I think we're the first guys to talk about it, the deplorables, you're on both sides of the trade here. | ||
| You're on both sides of the trade. | ||
| Melvin Capital is reporting this morning, the guys that were deep into GameStop, that they're down 53%. | ||
|
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Okay? | |
| They were kind of bailed out by Citadel, not because Citadel are good guys, but the long positions that Melvin had, the leverage long positions, would have blown up the portfolio of Citadel. | ||
| And that's why Citadel had to stop in here. | ||
| Citadel is also a fiduciary in an institution. | ||
| The reason these guys have all these big houses in Greenwich, Connecticut is they get 1% to 2% management fee of all the capital, which is all your money, pension fund money, plus they get 20% of the ups. | ||
| Okay? | ||
| That's the formula. | ||
| And that's why, you know, where are the customers' yachts, they used to say back in the roaring 20s. | ||
| Where are the customers' yachts? | ||
| I want to be specific because nobody's talking about this. | ||
| When Melvin Capital is down 53%, it's because the equity lords of Wall Street have not really performed their fiduciary responsibility. | ||
| And remember, the reason they're in this, this gets back to the entire financial crisis that's never been sorted since 2008. | ||
| We blew up the asset class by going to quantitative easing and low interest rates. | ||
| Now we're near zero interest rates, close to it. | ||
| There's no juice. | ||
| This pension fund gap that continues because of demographics and health care that continues to increase. | ||
| There's a gap in the funding of pension funds. | ||
| Pension funds therefore have to get a little kinkier. | ||
| They've got to search for yield. | ||
| They've got to figure out some way to close that gap. | ||
| That's why they put money to the Melvin Capels work. | ||
| But the Melvin Capels are supposed to be the smartest guys in the room. | ||
| They're not supposed to get the tables run on them by a bunch of guys in their mother's basement that are coming together and looking at their own research and now 5 million strong, right? | ||
| So Dan, David, take it from there. | ||
| I want to make sure people understand, which they're not hearing on CNBC and they're not hearing on these other things, the complexity of this is quite, it's simple in one regards and complex in another. | ||
| Mr. David. | ||
|
unidentified
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Well, first of all, Steve, I think you refer to me as a Wall Street guy, and I'm not sure what I ever did to you. | |
| But I think you and I both know that I'm one of the most hated men on Wall Street. | ||
| I'm not a Wall Street guy, but we'll take that up at some later point. | ||
| Look, it is very complicated, and there are people on all sides of this trade. | ||
| Sometimes they're on both sides without knowing it. | ||
| Yeah, sure, pension funds are going to invest in Melbourne Capital. | ||
| I mean, $13 billion under management before they blew up. | ||
| Of course, pension funds are in there. | ||
| And that goes to speak to the liquidity That we've thrown at the market in the last 10 years. | ||
| I mean, forget about the last year, too. | ||
| It was like $5 billion, another $2 trillion on the way. | ||
| It gets spread all over the place. | ||
| They've got to find some place to put this money because it can't go in the banks. | ||
| And yes, Melvin Capital gets it, but when you think that Melvin Capital, this hedge fund, lost all this money, and therefore pensioners lost this money, it's kind of a give and take, because who made the money on the hedge funds? | ||
| It wasn't all retail, right? | ||
| Because you've got Point72, Stevie Cohen, and even Citadel, who's a whole other problem involved in all parts of this, loaning Melvin Capital this money. | ||
| It's like playing poker with your friend, winning all their money, and then loaning them back money so they can still play. | ||
| So, these funds made money on the way up, too, and they have pension money. | ||
| I think what's interesting here, to me, is that in GameStop itself, it is 70% institutionally held. | ||
| Fidelity, BlackRock, Vanguard own 70% of GameStop right now, according to Bloomberg, at $300, $400. | ||
| Why they're in it at $20, I don't know, but why they're not selling at $300 with pensioners' money I don't know either, other than they're getting enormous fees lending shares, right? | ||
| Is part of creating this problem, Steve, because... Okay, Dan, slow down, slow down, because a lot of our audience are not, you know, not financially in the markets or, you know, they have other people manage their money. | ||
| Walk through when you talk about lending shares and why this may be causing another part of this problem. | ||
| It's also, we don't make financial recommendations here, although we talk about reality of the world and that's why people like in the pandemic, they said, oh, we can short this stuff because this thing is going to be a much bigger problem than Wall Street thinks. | ||
| People, if you're a Reddit rebel, right now you should be paying a lot of attention to everything that's out there. | ||
| Right? | ||
| All I would tell people is you ought to be on the trigger. | ||
| Don't be caught napping. | ||
| Because this is not, you know, there's certain physics, there's certain physics This is like the bubble that you saw in the internet back when you put a dot-com on something and it was five billion dollars, right? | ||
| This is getting a little frothy. | ||
| So I'm not giving any investment advice. | ||
| Short, go long, whatever. | ||
| But, all I would tell people, you better be paying attention. | ||
| And we're going to be a part, you can come and hear the guys like Dan David and hear some of the more sophisticated guys that want to reach the deplorables, that want to reach the America First and the MAGA movement. | ||
| So Dan, when you talk about lending the shares, where do you see this? | ||
| You've been very worried about there's another problem here. | ||
|
unidentified
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Well, I want to be clear with the listeners, too. | |
| I have no dog in this hunt. | ||
| I'm not short GameStop, I'm not long, and I never was. | ||
| So, no vested interest there. | ||
| But when people talk about how does GameStop get 140% oversold, when you have 70% institutional ownership and a lot of these institutions, these passive investments that do not sell, obviously, right? | ||
| It's 300 bucks, they're still not selling. | ||
| How they make money is they say they're zero fees, kind of like Robinhood on a trading platform. | ||
| They make money lending shares and collecting that fee rate on lending shares. | ||
| But when they lend the shares, they lend it to a short seller, they still claim they own that share, they do. | ||
| And then the short seller sells it to the market, and somebody else thinks they own that share, and that creates a synthetic share, two for one. | ||
| And that's how you get to 140% oversold. | ||
| And when you have Senator Warren going on television every other day giving Gary Gensler his marching orders as he comes in, saying, you know, this is a problem with the banks and the institutions, yeah, she should know, because Congress, you know, wrote those rules for them, or let the banks write the rules with Congress for them. | ||
| How did they think this would turn out? | ||
| I want to go to Thursday, because I think it's a pretty historic day. | ||
| You're not a Wall Street guy, but you know capital and financial markets as well, as good as any Wall Street guy. | ||
| And you see the structural, what they try to do structurally on Thursday, to beat down this revolt, and to beat down and to crush the Reddit guys, where they wouldn't let you sell, you know, they would only let you buy, not sell, or only let you sell, not buy, all the structural things they did Thursday. | ||
| And with everything from Robin Hood to what the institutions did. | ||
| Just summarize, do you think that that was legal? | ||
| Do you think it was fair? | ||
| Should that be investigated? | ||
| You've got Paxton now is starting an investigation. | ||
| He's already thrown a lawsuit out there. | ||
| Because they tried to destroy and crush this in the crib. | ||
| One, were they successful? | ||
| And two, did they cross the line to illegality? | ||
|
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I mean, I believe they did. | |
| I hope somebody finds that they did. | ||
| It's at least, you know, wrong and immoral. | ||
| Robin and coming out and saying that After first of all saying whatever we did. | ||
| It's in your best interest just trust us, which is ridiculous I mean blog blog the impaler you can try to impale all of the retail investors who are just expressing their right to free speech and Expression with their money and they should never have been tamped down upon but that's what you get and And when he says now that the DTCC said he needed to put up more collateral, and that's why he restricted trading, explain to me this. | ||
| You want to talk about collusion? | ||
| How did all the other retail platforms who didn't have as much exposure to GameStop or some of these others do the exact same thing at the exact same time? | ||
| E-Trade, Fidelity, Schwab, all of them, IB, at the same time. | ||
| They all have the same problem at the same time? | ||
| Let's come out and hear from them. | ||
| That sounds like collusion to me, and that, I hear, is illegal. | ||
| Last question. | ||
| We've got about a minute, Dan. | ||
| They keep talking about the integrity of markets, right? | ||
| That's like the scene in Casablanca, where they come and say, hey, sir, you've got to shut down for gambling. | ||
| Here's your winnings. | ||
| Is Wall Street just devolved into nothing but a casino? | ||
| Are there integrity of our capital markets now? | ||
|
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Well, I think Elizabeth Warren is right about one thing. | |
| It's a rigged game, and she should know. | ||
| Congress rigged it. | ||
| So, that's where we are. | ||
| You're going to have a rigged game. | ||
| You were asking me about silver at one point. | ||
| Is this a real thing in this squeeze? | ||
| Well, you asked the Hunt brothers back in 1979 when they tried to corner the market. | ||
| They did corner the market. | ||
| And what did the government do? | ||
| They come up with something like Rule 7 that says, no, we're going to adjudicate against you. | ||
| and retail investors and crush them. And the same thing's going to happen here. Anytime that our government in the last 30 years could adjudicate in favor of corporations over people's individual rights and freedom of speech, they always have. | ||
| And that's continuing, and that's why we're having the Reddit Rebellion. Dan, very quickly, 15 seconds, how do people get access to you? On Twitter, Wolfpack Reports. | ||
| Um... | ||
| My website is WolfpackResearch.com. | ||
| Dan, David, go to Wolfpack Research. | ||
| We'll put it in the livestream. | ||
| Thank you very much. | ||
| Thanks for joining us. | ||
| Return in a minute with Eric Greitens, former governor of Missouri. | ||
| Raheem Kassam, the head of National Pulse. | ||
| All next on War Room Pandemic. | ||
|
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War Room 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. | ||
| Of course, Mike Allen and the team over at Axios, the running dog, I love Mike Allen, really good guy, but a running dog for corporate interests in this town. | ||
| He's got the best business model ever. | ||
| He started Politico, he's now got Axios. | ||
| Of course, their screaming headline, their lead story, Trump's trade war in China was a failure in every possible way. | ||
| Not that it had good... | ||
| Trump's trade war on China was a failure in every possible way. | ||
| That certainly couldn't come from the corporate interests in the world. | ||
| Dr. Peter Navarro is going to, like we had Ken Paxson challenge the New York Times, Dr. Peter Navarro is going to be on 5 o'clock to take this head on. | ||
| Also from the live stream, we monitor the live stream non-stop for ideas, concepts and observations. | ||
| Someone said they were at a meeting with Congressman Jim Banks last night. | ||
| A big fan of the show, has been on many, many times. | ||
| Congressman Banks, a naval officer, was also, he's head of the Republican Study Committee, was saying how they understand the Republican Study Committee, that there's a populist revolt in this country, that the MAGA movement is a populist movement, and they're going to work on policy accordingly. | ||
| This Wednesday, Congressman Banks, it is play-me-or-trade-me with Liz Cheney in leadership. | ||
| She's got to be traded, okay? | ||
| Because she's already traded herself. | ||
| When she stood up and led this instigation about President Trump. | ||
| We're going to John Ferguson in a second. | ||
| I want to go to Greitens and Rahim. | ||
| I'll start with Rahim. | ||
| The buried lead of Dan Davids, who's a savvy guy, he said, hey, look, when you look at structurally what they try to do on Thursday to crush these guys, when I say crush these guys, lose all your money, right? | ||
| They try to crush those guys the last 30 years. | ||
| And this is why Elizabeth Warren and Bernie, particularly Bernie, the phony Bernie populism, he's sitting up there with his mittens, right? | ||
| Like in a high school football game in the third quarter with your kids playing down 50 points. | ||
| In the last 30 years, where they've had a choice between going against the Mike Allen corporatist, right? | ||
| You know, the big Wall Street, the big corporations, the oligarchs in Silicon Valley, right? | ||
| The big media companies, versus the little guy. | ||
| They've always come down on the little guy. | ||
| This is why Trump was the 45th President of the United States, and guess what? | ||
| It's why he's going to blow out a 2010-type Tea Party revolt in 2022, leading to his second term in 2024. | ||
| Write that down. | ||
| Get your No. | ||
| 2 pencil and write that down, Raheem Kassam. | ||
| And, in addition to that, this is why the Wall Street types donated overwhelmingly to Biden. | ||
| This is why, I don't know if we can get that image up on the screen, but this is why you had that empty scene over the National Mall. | ||
| Remember, this is what democracy looks like. | ||
| No, no, no, actually, what democracy looks like ...is a yellow-haired cartoon with sunglasses and it says Wall Street Bets under it. | ||
|
unidentified
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Yes. | |
| That's what democracy is looking like today. | ||
| And I get it. | ||
| They don't understand it. | ||
| This is why, by the way, he's ramming through executive action after executive action while, you know, Jen Psaki monitors the situation and circles back, right? | ||
| Can we get this on the screen? | ||
| I think it's important to remind ourselves that they say this is what democracy looks like. | ||
| Washington Post, democracy dies in darkness, that's why we shine the light on this all the time. | ||
| There's your phoniness right there. | ||
| Democracy does die in darkness and that's why we're shining a spotlight on your phoniness and the phoniness of the illegitimate and illegal Biden, I call it administration, Rahim says regime, okay? | ||
| And we don't like that, we don't care if Facebook and Twitter and Google don't like that. | ||
| Sorry, not sorry. | ||
| So that's, you know, and the juxtaposition I think we can get up on the screen here as well. | ||
| Again, the empty National Mall, not what democracy looks like. | ||
| The image you're seeing all across social media now is this one that you're about to see on your screen. | ||
|
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This is what democracy looks like. | |
| You have the little guys on Wall Street, and by the way, on Thursday afternoon, on Thursday, they tried to crush these guys. | ||
| They tried to eviscerate this. | ||
| Eric Greitens. | ||
| Well, let's also give everybody some hope, right? | ||
| So what did we see on Thursday? | ||
| They had to come out and try to crush people. | ||
|
unidentified
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Why? | |
| Because there was a revolt. | ||
| What was happening in Wyoming? | ||
| Is it the people of Wyoming? | ||
| People around the country, they were standing up. | ||
| They said, we don't want a Republican establishment that's going to work for lobbyists anymore. | ||
| We are ready to stand up and to fight. | ||
| And that's what's happening. | ||
| And the good news for people is that this has happened before in American history. | ||
| You look back, you and I were talking about this the other day, Steve, you look back, And it's from both parties. | ||
| I mean, you mentioned this. | ||
| You mentioned this, right? | ||
| You had William Jennings Bryan, 1896, cross of gold speech. | ||
| What happens? | ||
| Teddy Roosevelt, Republican Party, 1900. | ||
| He ends up becoming President of the United States. | ||
| You had on both parties this sense that they weren't going to take it anymore from the big corporate titans. | ||
| And what do we have? | ||
| It's not just the Wall Street folks who were supporting Biden. | ||
| Big tech! | ||
| I mean, was it 95%? | ||
| was it 95%? 98% of all the donations going into the Biden campaign. | ||
| Universities behind the Biden campaign. Hollywood behind the Biden campaign. | ||
| But the good news is that there is a strong populist sense in America that we are going to put America first. And the good news is the reason they had to crush a revolt is that there was one. | ||
| John Ferris, I want to go to you. | ||
| Bring in John Fredericks now, our radio partner. | ||
| Do you have enough time in this segment? | ||
| In fact, what I'd rather do is take time, if you hang on the next segment, to actually read. | ||
| I want you to read what the Reddit guys were saying, and then your reaction, because this is a very personal story. | ||
| It's the reason we got together about what happened in 2008, and the scars of 2008 are not healed today. | ||
| And the way that Joe Biden, the Vice President, the neoliberal neocon who was put on the ticket to make sure that the anti-war populist Obama didn't get out of control, they came up with their solution for that. | ||
| Before we do that, just the New York Times article goes after about Trump's 77 day campaign to subvert the election. | ||
| And here they blame, Mitch McConnell blames Trump for losing Georgia. | ||
| In a minute, before we go to break, did Trump lose the Georgia Senate seats or was it Mitch McConnell? | ||
| Mitch McConnell lost it, Steve. | ||
| I reported on your show and mine, since the third day that I was there, they were going to lose if they went down the same path because nobody was motivated in the Trump base to go out and vote for these two pathetic candidates that were running on keep Georgia Georgia wouldn't deal with any of the election fraud, wouldn't call for a special session, wouldn't do anything. | ||
| Uh, Perdue went on the stage in Dalton. | ||
| He got heckled off the stage. | ||
| He had to give the microphone back to the president. | ||
| And they pursued the same car road strategy. | ||
| We told them they were going to lose. | ||
| I, I talked to every, everybody. | ||
| I talked to Bernie Marcus. | ||
| I talked to the consultants. | ||
| I talked to Reince Priebus. | ||
| I talked to Mark Meadows. | ||
| I talked to them all. | ||
| I said, if you go down the same path, you're going to lose. | ||
| They went down that path. | ||
| They lost. | ||
| Okay, we're going to take a short commercial break. | ||
| We'll return with John Frederick. | ||
| Stay in the Capitol. | ||
| Mark's got a lot more to cover. | ||
| We've got the Lincoln Project. | ||
| We've got a lot happening. | ||
| We've got vaccines. | ||
| We've got a marker report from Boris. | ||
| A lot happening in the second hour. | ||
| I want everybody there. | ||
| I want you on the trigger, in the live chat, and hashtag Worm Pandemic. | ||
| Let us know what you think. |
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