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Sept. 15, 2021 - Bannon's War Room
45:13
Episode 1,264 – What the Federal Reserve Could Have BeenEpisode 1,264 – What the Federal Reserve Could Have Been
Participants
Main voices
j
jack posobiec
08:18
p
peter navarro
07:52
s
steve bannon
11:24
Appearances
Clips
a
andrew ross sorkin
00:33
a
anthony fauci
00:03
r
ray dalio
00:04
| Copy link to current segment

Speaker Time Text
unidentified
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.
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.
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.
anthony fauci ▲ ● ▼
Because if you don't, then the worst happens.
unidentified
War Room.
Pandemic.
Here's your host, Stephen K. Bannon.
andrew ross sorkin ▲ ● ▼
We've all been trying to make sense this morning, as we do every morning, of where we are in this economy and where we are in the markets, and I haven't had an opportunity to hear from you and ask you where you think things stand right about now.
I know you always think about things sort of in the machine, the economic machine, so help us understand what's going on inside Ray Dalio's mind right now.
unidentified
Well, I think it depends on the time frame, and I think the relevant time frame is the next few years.
And I think you have to put things in the context.
So there are three big forces that have been at work, and I think you have to understand those.
First is the debt-money thing.
How much debt and money, and what are the repercussions?
How does that pass through the economy?
What does that mean for markets, inflation, and so on?
We're in a different era.
Now, zero interest rates produce a lot of debt and monetize it.
Second influence, the conflict, internal conflict, over wealth, left-right conflict.
That conflict.
And then the third is the rising of a great power in the form of China challenging an existing great power and challenging the existing world order.
Those three things are coming together at the same time as then we have a pandemic.
So I think each one of those is a cycle.
What's happening now has not happened before in our lifetimes but has happened in the 1930 to 45 period.
ray dalio ▲ ● ▼
I went back and studied it over 500 years and so it's that context.
unidentified
So I think if we're talking about anything we should look at that within that context.
andrew ross sorkin ▲ ● ▼
Let's break it down then, and let's start with the debt situation that we have in this country, and the zero interest rates.
Given you're a student of history, what happens next?
unidentified
There's not enough money to go around, right?
We're spending a lot more than we're earning, and we have to do that, partially because of this social redistribution, that necessity, and they can't take it all from taxes.
And what that means is the printing of money.
So it's the mechanics of that.
So what you do is you get more money.
And so that devalues the value of money.
In other words, cash is trash.
andrew ross sorkin ▲ ● ▼
Denver?
steve bannon ▲ ● ▼
Denver, just hold it.
I'm going to call back for this.
Just hold it right there.
We're trying to get Judy Sheltz on because of a slight mechanical problem, technical problem.
We'll do this in a second.
But this is a guy that's got one of the biggest hedge funds in the world and is considered a financial genius.
He's an idiot.
And he's a dangerous idiot.
And we're going to get his number up.
We want people to call Bridgewater.
I would love to have you take your money out of Bridgewater.
He's an unregistered agent of the Chinese Communist Party.
And we're going to spend time and resources now to show this.
We've got to start to expose these people that are so dangerous to the American people.
This interview on CNBC today was another unacceptable... First off, he's all over the map.
We don't have enough money.
Cash is trash.
We gotta spend more.
We gotta print more money.
It's all gobbledygook.
It's all gobbledygook.
Okay?
It's all gobbledygook.
And Andrew Sorkin sitting there, Ross Sorkin doesn't ask one hard follow-up question.
It's like one, it's coach pitch.
It's not coach pitch, it's tee ball.
Just let's tee it up there.
And then he lets him go on and on and on about his client, the Chinese Communist Party.
And the hardest question he asks, he says, well, you know, Sorkin goes, well, hey, don't you manage money for China?
And he goes, oh, yeah, but I manage money for the U.S.
government and other things.
That's not an answer.
It's not an answer.
He's a business partner.
Bridgewater's growth is directly tied to their involvement, the Chinese Communist Party.
Chinese Communist Party.
This is one of the problems.
We have these Wall Street titans, these Wall Street masters of the universe, and they're all in business with our mortal enemy, the Chinese Communist Party.
The same one that Milley had a conversation for in late October.
Remember this?
This is no, no question.
If they try to question President Trump after November 3rd, which we have now proven the November 3rd movement, right?
As today in the Commonwealth of Pennsylvania, they're going to issue 17 subpoenas to get their hands on the ballots.
Right?
This is not War Room saying this.
This is not Steve Bannon saying this.
This is Jay Corman, an establishment guy, the president pro tem of the Senate of the people of the Commonwealth of Pennsylvania, is issuing the subpoenas.
Right?
To get to the bottom of it.
In October, Milley, and this is not about elite capture, we're beyond elite capture, as Jack Posobiec said, this is elite merger.
He's calling his partner in the PLA to say, oh, Trump finally said China virus, Wuhan virus, which we know it came from the lab in Wuhan, and we've called it the CCP virus.
It's not the Wuhan virus, it's not the China virus, it's the CCP virus.
And because Trump says at one time the most militarily restrained president we've had in living memory, Milley's going to call the head of the PLA as the senior military advisor for the President of the United States without checking with the President of the United States?
He's going to call him and says, hey, we're not going to attack you.
I want to make sure.
I know you're worried.
This guy's calling him.
Hey, I'm very worried about this.
You could attack us.
Right.
You could attack us.
I'm very worried.
But Milley says, I'll give you a heads up.
How about I'll give you a heads up.
That's where we are in this nation.
You're seeing, at least in the nation, Ray Dalio is one of the richest guys in the country.
I think the hedge fund, Larry Fink and Bridgewater, however you count the assets, because it's always kind of funky how they count them, right?
Are the two of the biggest money managers in the country.
With plenty of your money, which you ought to be calling up and taking out today.
The company's called Bridgewater.
This dangerous clown is called Ray Dalio.
And CNBC should be ashamed of themselves, and particularly Andrew Ross Sorkin, who's a very smart guy.
I do not agree with his politics.
He's a very, very, very smart guy.
And you can't be having softball interviews like that and consider yourself a news organization.
Is that a paid ad?
Was that an infomercial this morning?
I want to bring on now, we're very honored to have Judy Shelton.
She was President Trump's nominee as a governor for the Federal Reserve.
As someone that really understands, I think, not just precious metals and gold, but understands this entire insanity, because it's insanity right now, this modern monetary theory and what we're doing.
Judy, thank you so much for joining us here today in the War Room.
I'm a little worked up with the Ray Dalio interviews in the CNBC.
But I got to ask you first, up on Capitol Hill right now, they're talking about, and the math's kind of funky, but you got three and a half trillion of a kind of a social welfare bill or human infrastructure.
You got a 1.25 trillion of an infrastructure bill.
This is over and above the 5.2 trillion we spend every year anyway.
Which nobody talks about.
So we're doing this and we've got a debt ceiling that we have to give them permission for.
Can you just put in perspective right now?
What is the madness that Wall Street and the corporations are buying into this modern monetary theory?
What has happened to our financial system and the leading thinkers?
When right now, this is nothing but insanity that's going on, because we're talking about resources we don't have, and we're talking about numbers, the scale of which, the law of law of numbers, will fundamentally transform our nation.
Judy Serleton.
unidentified
Well, I think it's a dangerous trend that Congress has become entirely too comfortable with.
When you can run deficits, and your own central bank is more than willing The purchase the debt that finances them and when it can create money out of nothing by tapping on a keyboard, you have lost all sense of money as a measure.
And if money cannot do its job of providing clear price signal, then free markets cannot deliver optimal outcomes.
So I think what we have now, this compromised relationship between the Treasury, Congress and the Federal Reserve is Judy, so let me go back and ask you.
the basic principle of economic liberty and the right of people to make their own judgments about where to invest their money, how to spend their money. The signals are being obliterated by I think faulty monetary policy. Judy, so let me go back and ask you, in the old days this was you would hear this talked about all the time on CNBC and on the business channels on Bloomberg and Wall Street
steve bannon ▲ ● ▼
Why is it that you sound now like a voice in the wilderness?
How did we get to a point?
I'm not talking about the Bernie Sanders and the AOC crazies.
I'm talking about Wall Street.
And correct me if I'm wrong, because maybe I am.
It's this radical concept of modern monetary theory.
Have they just embraced it?
Because you sound now like an outrider, an outlier.
Right?
Of kind of basic economic common sense and financial basic wisdom built upon millennia of kind of data.
But what happened to the people who are supposed to have the wisdom of this?
Why did all of a sudden these conversations get to be, oh, is it going to be $6.5 trillion?
Is it going to be $9.5 trillion?
We've got to increase the debt ceiling.
How did we lose our anchor here?
unidentified
For two reasons.
It hasn't really been all of a sudden.
It's creeping incrementalism.
And it really started in earnest after the financial collapse in 2008.
And even though I think the Fed was largely responsible for that, I don't know any other organization that had more authority to regulate the amount of money and credit in the system.
Nevertheless, the Fed kind of cast itself as the great savior.
And through quantitative easing, by purchasing financial assets and chiefly treasury bonds, they would they would build back up the market.
And yes, that was causing a great inequality of wealth.
Zero interest rates punished savers, the people who have done everything right, who put a little money aside every week and put it in bank accounts.
It punishes them.
They get zilch.
But it's very rewarding To Wall Street, and I believe in Wall Street, but they've been having training wheels to assist them in writing out the economic future, and they've become very comfortable with that, and they don't want to take those away.
And Congress has been very comfortable with having the Fed purchase the debt.
The Fed owns 24% of our outstanding public debt, which is about $22 trillion.
There are no limits.
The Fed could buy it all.
And that not only keeps the cost of interest low for government, but the real bonus is the Fed takes the earnings off of its Treasury bond portfolio and remits them back to the Treasury, and that is counted as revenues to the budget.
So if you had a consolidated financial statement, you would say this is unsustainable.
But meantime, it seems to work.
And members of Congress, mostly on the Democrat side, but some Republicans, love being able to deliver all kinds of goodies to their constituents and pretend it doesn't have to be paid for.
steve bannon ▲ ● ▼
One thing we try to instruct people here in the war room is to make sure when you say print money in the treasury, in the feds buying the treasury bonds, that full faith and credit is on the citizens shoulders.
It's not, you can either sell the bonds to the Japanese insurance companies or the Chinese or the Gulf Emirates.
You can get tax revenues from growth and more, or raise taxes.
The printing money It's not free.
That goes, that's got that, that burden goes on the shoulders of the American people, right?
So that's their deal.
So we say 24%.
That's their ability, because the American people haven't been awakened to the fact that, hey, they're doing it on your credit card.
And eventually that credit card is going to have to be paid off.
Is that essentially correct, Judy?
unidentified
That's how we used to look at it.
But I don't see the Fed ever selling back the bonds.
They have eight trillion now.
That's 37% of GDP.
And when they mature, they replace them.
So they're not looking to ever sell it back.
The problem is it's created as a digital flip.
The Fed buys the Treasury securities or the government mortgage-backed securities by hitting a key on a computer.
So it really is creating the money Out of the ether, in any case.
There's no other purchasing power except the Fed's unlimited ability to do that.
But you're right in that it creates a real obligation.
It creates a real obligation.
That's why I say at some point I can imagine carrying it to the extreme.
That if the Fed can buy it all, and there's no restriction to prevent them, Then they give the money back to the government.
I cut my teeth back in the 80s analyzing the internal Soviet monetary and financial system.
And what bothers me is we are increasingly using banks not to provide financial capital to entrepreneurs, but to just channel credit up to them.
steve bannon ▲ ● ▼
Hangovers return with Judy Shelton talking about the Fed in a minute.
unidentified
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. Banham.
steve bannon ▲ ● ▼
Okay, welcome back.
Make sure to go to MyPillow.com, promo code WAROOM, support the fight for freedom, the armor-piercing shell that is Mike Lindell.
Of course, the great American manufacturing company that is MyPillow, and up in Minnesota, I think 2,500 employees.
And, of course, warm apparatus.
We've got the towels.
We've told you that as soon as we got them in inventory, we put them up for sale, and Mike Lindell has normally $109, now $39. $39.99.
Okay, so make sure you go to MyPillow.com.
Promo code WORM.
Action, action, action.
The show is about human agency.
The reason the show is so powerful is one simple reason.
It's not us.
It's not the great producing staff.
It's not the great team at Real America's Voice.
It's this audience.
unidentified
And you see the left-wing media attacking this audience every day, right?
steve bannon ▲ ● ▼
Whether they're taking over school boards, taking over the Republican Party at the grassroots level, or fighting for 3 November.
They're attacking you.
Why?
They're afraid of populism.
They're afraid of a populist We're honored to have Judy Shelton on.
I want to announce at the bottom of the hour we're going to have a very special guest that's going to step in here.
unidentified
He's back off the bench, back off the beach, ready to go to work.
steve bannon ▲ ● ▼
He's going to be right here on camera.
So hold on for the bottom of the hour.
Judy Shelton is a voice in the wilderness.
President Trump nominated her for the Board of the Federal Reserve to put some sanity over there.
Judy Shelton, the debt ceiling.
We're playing three-card money right now.
You know, they're over there at the Federal Reserve today down there taking the tomato cans out of the back and taking any cash they can get to pay everything they can pay because we've run out of money.
unidentified
Right.
steve bannon ▲ ● ▼
We've run out of money.
They can't hit the computer anymore with the digital money because the debt ceiling is here.
What is Judy Shelton's recommendation of what the nation should do about increasing the debt ceiling or should it not be increased?
And we just have a confrontation with Congress right now.
unidentified
I think there comes a point where you have to take a stand.
I think that this inappropriate And grandiose package being put forward by the administration is not in the best interests of the country.
I think it fundamentally changes the relationship of citizens to the government.
I think it gives up any kind of sense of fiscal responsibility and just draws us deeper into that.
That bad practice of having our own central bank pay for the overspending by Congress.
I think it is on the shoulders of this administration and the Democratic Party.
And I applaud Republicans who say, we are not going to be part of it and we're not going to support you and we're not going to provide cover in approving such an ill-conceived and inappropriate level of spending.
steve bannon ▲ ● ▼
Okay, so they don't approve that, but you're also saying you wouldn't give an inch, you wouldn't increase the debt ceiling, because what they're going to say is that Judy Shelton, you know, came very close and should have actually been, as a governor, on the board of the Third Reserve, and now she's become an arsonist to this, because if you don't increase the debt ceiling, the debt market's going to implode, we're going to default on government securities, the stock market's going to implode, it's all these populist radicals, Well, everyone is very insistent about the Fed remaining independent.
And so they're going to try to hammer the Wall Street titans, the capital markets, with this leverage.
So what happens when the Authority Union says, hey, you were going to be a governor of the Federal Reserve, and now you're saying we can't increase the debt ceiling?
unidentified
How irresponsible could that be, ma'am?
Well, everyone is very insistent about the Fed remaining independent.
So I think that it's Treasury's issue.
It's up to the American people.
And the only way the American people can hold Congress responsible is by sending them messages of what they believe in, what they support and what they don't.
And I'm an American citizen and I happen not to support overspending and a recklessness with regard to accumulating debt.
So I consider that the responsible position.
And some of the devastating consequences being talked about, when you think of it, the big fear was always, oh, well, now maybe China or Japan will dump their holdings of treasuries, and that would cause the rate to go up.
Well, the Fed has the deal.
They're hinting they want the rate to go up anyway, because they're about to buy fewer treasuries.
So if you look at how our economy performed, We did the best.
We had the lowest level of unemployment, particularly among minorities, which is something that Chair Powell likes to cite.
In 2019, 2018 and 2019 under the Trump administration were fantastic years in terms of economic growth, closing the gap on income between high and low income earners.
We had more productivity gains.
All of that was great.
At that time, The Fed was paying banks not to make loans 2.4 percent.
I mean, that's that's almost twice what you get on a 10 year treasury right now.
The point being, it was actually President Trump who was trying to tell Chair Powell in the second half of 2018, you are making a mistake.
You've raised rates nine consecutive times.
Let's give it a little breather.
And especially since in At the European Central Bank is paying negative rates.
Why should Greece be borrowing at half the cost of the United States?
So he was standing up for our full faith and credit and saying we deserve the appropriate interest rate.
Now, Powell has embraced that thinking.
Powell says, I did make a mistake.
I shouldn't have done those last two.
And indeed, in late 2019, he took back three of the four interest rates that he engineered in 2018, right after he became chair.
So he's embraced the wisdom of the advice he was getting that at the time he was showing such resistance to.
He now thinks that was right.
The problem now is we don't have the pro-growth agenda that we had under the Trump administration.
That is, we were cutting business taxes.
We were cutting income taxes.
We were cutting regulation.
We were increasing energy production and standing up to China on trade.
All of those things were the reason we were getting the excellent employment numbers and the inclusive employment numbers.
That was a magic formula.
So now all we're doing is unleashing inflation, which we didn't have in those years, but at the same time stifling the productive growth.
And I think banks now find it easier to just engage with the Fed and trade play money back and forth through the Repo market and through getting interest on reserves.
This is play money that is corralled.
It never makes its way into the real economy.
That's why this monetary policy we have now is so, so unfair.
It channels benefits to one segment of society at the expense of others.
And I think that's fundamentally un-American.
And that's why I say As much as people have their doubts about the efficacy of Congress, the Constitution does give the power to regulate money to Congress.
It's just that they bombed it out to the Fed, and now there's a conflict of interest between congressional overspending and the Fed's willingness to accommodate it.
It's just that they're not willing to accept it.
The epidemic is a demon and we cannot let this demon hide.
War Room Pandemic.
Here's your host Stephen K. Bannon.
steve bannon ▲ ● ▼
Okay, we had a slight technical issue.
I think we've got that worked out.
Now I want to bring in Judy Shelton.
We've got a lot to get through in this last 30 minutes.
We're going to bring in Judy Shelton.
Judy, once again, and I know the audience didn't hear the entire answer, will you support raising the debt ceiling in October when they're going to accuse all of us of being obstructionists?
Are you saying enough's enough?
There now needs to be a massive negotiation about where we're going.
We shouldn't raise the debt ceiling at all.
unidentified
I believe that there are times when you have to take a stand, and I think that the package being put forward is so unreasonable and so damaging to the fiscal future of our country that I back the Republicans.
As a citizen, I support the ones who are saying we are not going to cooperate in bringing this about, and they're just taking a stand, and I'm on that side.
steve bannon ▲ ● ▼
Judy, how do people get more access to you?
How do they get to your social media and follow you?
How do they go to your new site over at the Independent Institute?
How do they follow your thinking?
Because you're one of the most important thinkers we have right now about fiscal sanity.
unidentified
Well, that's very kind of you to say.
I'm on Twitter.
That's the only social media I do, but I'm very grateful that the Independent Institute does like to publish my work, and of course the Wall Street Journal has always been very supportive.
So I find there are like-minded people out there.
It's not always in the middle of the economic crowd or the Federal Reserve researcher crowd, but I also think those people tend to be biased For the other end of the political spectrum, my political philosophy is very much in keeping with original American values and the great American experiment that says that everyone should have equal rights and freedoms.
And I think that starts with the money.
The money should work the same way for everyone.
It should not be possible for our central bank to channel monetary benefit some citizens at the expense of others.
So I'm for sound money, and I think that standing up on the debt ceiling is worth the risk, which I don't think is quite as apocalyptic as it's set out to be.
I think it's important, more important, for the future of our country to take a stand and say that responsible finances, sound money, sound budgeting, It is part of that American experiment and approach to self-government, really.
That's what it's about.
steve bannon ▲ ● ▼
Shelton, thank you very much.
Honored to have you on.
Look forward to having you back.
This fight's just about to really heat up.
unidentified
Thank you so much for having me.
steve bannon ▲ ● ▼
We got Jack Posobiec in the studio.
Jack, want a news update?
Also want to get up the cover for Peter Navarro's new book and Jack Posobiec's.
We got two.
We got Jack Posobiec.
We got Peter Navarro.
I'm going to say a few things about the Navarro book.
But Jack, give us a news update.
It's been a lot going on today.
I know there's a firestorm over Millie's book.
There's a lot happening.
Get us up to date on what's going on.
jack posobiec ▲ ● ▼
Well, Steve, two of the biggest things that I think we're seeing both are taking place in the Asia-Pacific region.
First of all, we now know that Biden, along with the heads of the UK and Australia, they're going to be announcing a new high-tech, we're told, defense technology infrastructure intel sharing agreement.
We don't know if this will be usurping the role of the Five Eyes intelligence sharing program, but we do know that it's supposedly going to be taking a look at China, putting China in the crosshairs.
Second, we've also now just heard signals from China.
Steve, you and I have been talking about this for about a week now.
Chinese real estate giant Evergrande, they just announced that they are not going to be covering the interest payments on their debts that have come due September 20th.
And you look today, five days ahead of that, September 15th, today is actually the 13th anniversary of the Lehman Brothers collapse.
steve bannon ▲ ● ▼
This, and people understand geopolitically, this collapse, and by the way, this is going to wipe out Lao-Beijing.
50 cents of every dollar.
jack posobiec ▲ ● ▼
This isn't one, this is contagion.
This is the biggest, you know, the biggest holder.
They've got so much invested in here.
And keep in mind that even in China, their banking industry This isn't something that the lao bai sheng, the average Chinese person, has been doing for a long time.
Banks don't have a long history in China.
There's still a big culture of sort of, you know, you get money, you literally hide it under your mattress.
You know, I never saw that in my life before I lived in China.
So the idea that they would invest in banks and groups like this was huge.
Now that's why you're seeing these massive protests and the protests are getting bigger out in Shenzhen and other parts of China because they want to know, where's my money?
steve bannon ▲ ● ▼
And this is going to, by the way, this is why the Global Times is putting out, hey, we're coming for Taiwan right now.
It's unbelievable.
The Asia Times has got a new story about the digital currency coming out of Beijing to basically break the back of the U.S.
dollar.
It's by Mr. Goldman, who's a brilliant thinker over there.
We're going to have more about that at five o'clock.
Let's get up Peter Navarro's new book.
Navarro's in the news non-stop, Jack, as you know.
Peter Navarro.
We get to cover Navarro's new book.
I want everybody in the War Room.
By the way, you put this book as number 70 overall with a three-minute hit last night.
I need everybody to go to Amazon right now and order this book.
This is Peter Navarro in Trump Time.
It is my Journal of the Plague Year.
It's already making huge controversy.
They're gonna call Navarro up.
You know, Clyburn on Capitol Hill about what's going on.
Jack Masovic, your thoughts about Navarro's book?
Everybody go to Amazon right now, In Trump Time.
Jack Masovic, your thoughts about Navarro's book?
jack posobiec ▲ ● ▼
Well, you remember, of course, that we have this narrative out there that the Trump administration was lying about COVID.
That the Trump administration said one thing publicly and said another thing privately.
Well, what Navarro, I think, is going to show in his book Is all of those statements that were made by the president at the time they were made, the task force, the politicization that did come in by the way, the butting of heads that happened with Fauci, that happened with the NIH, for everything else that was going on there, and then you're going to see it cut across all of the crap that the mainstream media has been trying to shovel on this entire narrative because they know, right?
Now you're hearing from someone who is in the room, Who is in the deal, who is at the table, that can actually tell you without having to go to sources because he is the source.
And I think we have him.
We actually have him here.
Peter, are you there?
So let's bring him in if we can get through.
There he is, ladies and gentlemen, the author himself.
I can stop being hype man for a minute here.
peter navarro ▲ ● ▼
You waved your magic wand and I appeared in my, I don't know if you can see this on the air, but it's my Trump 2016 campaign jacket when I was in the O.G.
jack posobiec ▲ ● ▼
folks.
peter navarro ▲ ● ▼
He's got the O.G.
jacket right there.
Just down the block from here in Bannon Land in the studio.
But Jack, look, In Trump time is, I think, going to be the definitive insider's account of what happened in the last year of the Trump administration.
I religiously kept a journal on a daily basis so I could basically record history as it moved forward.
And also, I think, importantly, hold folks accountable I'll take you in the situation room.
I'll take you in the oval.
I'll take you in the Roosevelt room.
who buy this book in Trump time, up on Amazon now.
I'll take you in the Situation Room, I'll take you in the Oval, I'll take you in the Roosevelt Room, I'll take you in the East Wing.
And there's no shortage of villains in this piece.
And I think the biggest villain in this piece, who is a true villain here in America right now, is Dr. Mr. Anthony Fauci.
You're gonna see from the very get-go, on January 28th, my first showdown in the sit-room with him on the travel ban, I would have subsequent showdowns with him throughout the time.
He constantly was sticking knives in the back of the president, in the back of our pandemic policy, and there's some really blockbuster revelations.
jack posobiec ▲ ● ▼
And Peter, that's exactly what I just had on the tip of my tongue.
I think you anticipated where I was going with this.
Was there any time that Fauci came to you guys and sat down and said, you know what?
My colleagues Peter Daszak and Zhejiang Li over at the Wuhan Institute of Virology have been studying this.
They've been looking into these coronaviruses.
We've had all sorts of experiments going on.
Let me call them up.
Let's look at some of the data.
Let's compare notes.
Let's use the plan that's on the shelf.
Was there any moment where that happened?
peter navarro ▲ ● ▼
There was no moment when that happened, and what was criminal about his conduct was that he was put on notice through his own email flow, which folks like you, Jack, have revealed to have indicated that he knew all along that there might be trouble in River City, aka at the Wuhan lab, and this smug
I would say that the cover-up is worse than the crime, and I will show you in detail in the book, In Trump Time, just the elaborate nature of the Fauci cover-up.
And you know, it's like Steve said this many times, and I think In Trump Time is going to prove that.
Stolen elections have consequences.
And it's just, you know, what we have now with Joe Biden is a border crisis.
We've got a pandemic crisis.
We've got a stagflation crisis.
And we got a Fauci crisis.
I mean, this guy is just out of control.
jack posobiec ▲ ● ▼
Well, so now he's been the holdover.
He's now taken over, essentially, the role of being in charge of this thing.
Then you've got, so he lets Biden come out, lay down the vaccine mandate.
We just saw there's a story out of Daily Mail today that, you know, I've been talking, I know I've been harping on this, that we're going to lose so much of the capacity, so much of the skills and capabilities of our military, Some of our the the hardest hitters and I said about a week ago that I had enlisted level Navy SEALs actual shooters saying that they didn't want to take this thing and now they were going to be faced with the prospect of having to leave the service.
Dailymail.com backing that up today that three members of the original CIA team into Afghanistan The guys who were there in the first days, I think just a week after 9-11 took place, they are now being told that if they don't get the vaccine, which they're saying they don't want, that they are going to face punitive repercussions, that they're going to face disciplinary action.
You've got guys that some of these are the heroes of the heroes of our country that stood tall.
When 9-11 happened and we needed to strike back, this was the do-little moment, the do-little-raid moment of our era.
And now you're gonna kick those guys out because they don't want to get this vaccine.
Joe Biden is going completely nuts and Fauci is off the chain.
peter navarro ▲ ● ▼
And in the end of In Trump Time, I talk about why that's wrong, what we need to do.
Yeah, I'm here in New York City, Jack, and this is the new apartheid here.
I mean, you can't go anywhere in this city without a vax card.
And I've been talking to people who actually live here.
Here, listen to this, Jack.
I've talked to a number of people already in this city who actually had COVID.
And had very, very robust antibodies, but it was like, oh, well, I can't go to a restaurant unless I get it.
I can't go to the gym.
It's like when you take that vaccine, it's not without risk.
And so I'm the first person to say, hey, if you're 60 or older and you got comorbidities, get the damn vaccination.
OK, but if you're a 12 year old kid, we're going to be back for the last segment.
In the war room.
unidentified
saying on jack will be back and all of us are over. We will fight till they're all gone. We rejoice when there's no more. Let's take down the CCB.
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.
peter navarro ▲ ● ▼
Peter Navarro, honored to be here. It is a pleasure to be here.
In the warm room, not so comfortable in the Big Apple, aka the Big Bad Apple of vaccine apartheid.
This is not a place you want to visit, folks, if you care about your health.
Be that as it may, here I am.
We're talking a little bit about my new book, In Trump Time, but I gotta hand it to Jack Posobiec.
His title, his children's book, is No Such Thing as Free Ice Cream.
That, of course, as an economist, I get the joke better than anybody because we're always saying there's no such thing as a free lunch, right?
Yeah, I mean, so there it is.
And to that point, I think the whole The principle of the Biden regime right now is a free lunch on the backs of the deplorables.
I mean, that's kind of where we're going, whether it's in Afghanistan or at the border with their pandemic policy or whether with Lord Fauci lording all over us.
So riffle a little bit.
I mean, what do you want to tell the kids in this book, Jack?
jack posobiec ▲ ● ▼
Well, what's really great is, and the reason that, you know, we kind of put this together, and it's, you go into any Barnes & Noble, Books A Million, any mainstream bookseller right now, the first thing that you see when you walk in are all these children's books written by, and that, you know, the last name of the author, it's always, it's always one of the Obamas, one of the Bidens, or one of the Clintons, or now, you know, even Mina Harris, Kamala's niece, now has a new series out, right?
and it's all this woke agenda indoctrination.
So we said, you know, we've got to put something out there that's conservative, that's traditional American values, that's actually promoting the things that built this country that, you know, to borrow a phrase, made this country great.
And that's why I partnered with Brave Books.
Now, you might remember the first couple of ones that came out of this.
They got a lot of press, a lot of attention.
The first one went straight after gender issues.
That was elephants aren't birds because they're not folks.
Second one was pro-life.
Little lives matter.
Now this one, mine, and if you look very closely on the cover, you'll actually see that it says the island of free ice cream, but the way we designed it is you can actually, if you look very closely, you'll see the people that put up the sign are a bunch of wolves.
And you can kind of see like a Berlin Wall kind of hiding, you know, just behind the free ice cream sign.
So, you know, that's actually the plot of it.
You land on the island that it's all just basically run by communists.
Kind of like Hollywood, for an example, to take some recent history out of it, you know, seeing what happened last night.
But when you look at it, it's the idea of having a story that you can sit down with your kids, with your grandkids, and we've actually been reaching out to a lot of Home school groups and church groups, you know, that run homeschool pods and you know, MyParish does this and a lot of others are talking about this now because so many people are checking out of the system.
But they say, look, you know, we still need new things to add to our curriculum.
We need new things that we can add for the kids.
We need a way to be able to talk about some of these issues.
That doesn't have somebody sitting there pontificating at them, right?
You know, it's actually a cool story, it's got characters, it's got, you know, some action, they have to escape the island, the wolves are after them, etc, etc.
It's a fun story, but then afterwards, there's a, you know, sort of like a question and answer section at the end, and it gives parents and educators the ability to actually sit down and have some of these, you know, questions.
Why wasn't the ice cream free?
You know, what could you do?
Why did they trust the wolves, right?
And so now you have the ability, and it's bravebooks.us is the site, but you have the ability to actually have these conversations with young kids, with people that are starting to kind of get a sense of what economics is, and really something that I think will stick with them for a long time.
And of course, as an economics professor, I'm sure you can appreciate finding a way to teach that to younger students.
peter navarro ▲ ● ▼
And, and, you know, something you said there, just, just, you know, I was listening to the War Room, maybe it was yesterday, one of the cold opens, where Mika Brzezinski was going off on, hey, you know, it's, it's, it's no big deal.
You have a choice.
If you want to get vaccinated, don't want to get vaccinated, you know, your kids can do, you can do homeschool, you can do this, you can do that.
And it's like, I want to make the point here that our children, Above all are really in the crosshairs of this this failed Biden Fauci pandemic response issue because the reality is there's a lot of parents Who can't homeschool their kids because they got to go to work.
And then they can't go to work because they don't want to get vaccinated.
So there's jobs gone.
So it's like, Mika, it's like this is, you know, your your little rant there for me was let them eat cake, you know, let them eat cake.
It's going to be so important to protect our children, to protect our mothers.
I saw the ESPN reporter, female reporter, announced that she was not going to comply with the ESPN vaccination policy.
And basically give up her job because she wanted to have a child.
And it's well known, as Dr. Malone has talked about, that there may be reproductive issues with these vaccinations.
So I salute you.
Jack, I want to I want to finish.
We got just a few minutes here.
I just I just want to make the point here that stolen elections have consequences.
And I you know, in my Long time on the planet, and I've been able to survive.
I've never seen it so bad in this country, and I survived Watergate, and Vietnam, all sorts of things that went wrong in the stag place in the 70s.
There's so many things going wrong right now that we really need to get to the bottom of November 3rd.
We really need to get to the bottom of January 6th.
We really need to get to the bottom of what happened in the Wuhan lab.
And that's what I'm trying to do with the In Trump Time book.
That's what I think the War Room and its audience is dedicated to.
Because they're coming for us, and they're coming at us.
And this is a time that we have to speak truth to power.
This is a time for us to fight back and Jack, I'll give you the last word as we go out and just I salute you for the fine work you're doing at Human Events.
We got about 30 seconds.
jack posobiec ▲ ● ▼
Well, folks, you know, I've got to take some time to just give a shout-out to, you know, we just lost a really rock-solid figure in the world of not just comedy, but in terms of speaking truth to power, and that's Norm MacDonald, this guy who got fired for Weekend Update because he refused to stop calling O.J.
Simpson a murderer, because he refused to stop speaking the truth about Hillary Clinton and her corrupt husband, who went on The View and called them out.
This was a guy who stood up and said what wasn't popular, but what was true.
And so Norm, you were the greatest to ever do it.
And if I should just say, note to self, who benefits now that Norm is out of the picture?
Ah yes, OJ Simpson, Hillary Clinton.
That was always his thing, folks.
Stay tuned, War Room will be back later this evening.
Three cheers for Norm.
Go watch all of his clips.
Watch every single one, they're so good.
peter navarro ▲ ● ▼
All right.
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