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March 3, 2022 - Bannon's War Room
48:36
Episode 1,680 - The Economic War Of The World; 80 miles Convoy Heads To OhioEpisode 1,680 - The Economic War Of The World; 80 miles Convoy Heads To Ohio
Participants
Main voices
s
steve bannon
20:11
s
steve cortes
07:26
Appearances
b
boris epshteyn
03:59
c
chris hayes
01:55
p
phillip patrick
01:50
Clips
a
alex jones
00:18
| Copy link to current segment

Speaker Time Text
unidentified
🎵Raising praise, how sweet the sound🎵
🎵That saved a wretch like me🎵
🎵I once was lost, but now am found🎵
🎵Was blind, but now I see🎵
🎵Raising praise, how sweet the sound🎵
USA!
USA!
USA! USA!
Attention! This is a report from the Security Service of the Lviv Regional State Administration. Citizens...
The air is not enough for everyone. Everyone must return to their workplaces or homes.
F**k!
Help the sick and the elderly.
Be ready for a possible counterattack.
Always have personal protective equipment with you.
Listen carefully to the department's report on the situation in the city.
Fuck, again!
The city is in a state of emergency.
you you The whole Ukraine was watching Biden's speech last night.
President Biden's speech.
The middle of the night, but Ukraine was watching, Ukraine was listening.
Did you hear what you wanted and needed to hear from President Biden?
To be honest, it was a total disappointment for us.
I can explain why.
Today the whole world is watching Ukrainians being executed.
I cannot name it the other way around.
The right definition is an execution, because we see bombs going to our civilian houses every day.
We see children dying every day on the streets and in their houses if they didn't make it to the bomb shelter.
We see bombs coming to the orphanages, to the schools, and We had been promised a protection by the international community.
We gave up our nuclear weapons.
And today when I see President Biden saying that we are going to protect every inch of the NATO territory, excuse me, we've been promised the same thing when we gave up our nuclear weapons.
And now we've been given $1 billion in support.
We have totally destroyed, the Russians have totally destroyed all of the airports in Ukraine.
In Ukraine, the majority of the roads, we are grateful for help, but we need protection in our sky.
We have been protecting ourselves on the ground, but if we do not protect our sky, if there is no fly zone, or if there is no dome to protect it with the air defense, we will all go down.
People will literally die Okay, welcome You're in the War Room.
steve bannon
It is Thursday, 3 March, Year of the Lord 2022.
You're in the beginning phases.
As we told you, the Chinese Communist Party has been at war with us for many years, economically, cyber, and information, and now we're deep into the middle of this.
We're going to explain it all to you.
I want to first go to John Spiropoulos with this amazing, amazing convoy that's heading now to Ohio.
John, what's happening?
Where are you?
unidentified
We're on Interstate 465 going north on the west side of Indianapolis.
The convoys came by here about 15-20 minutes ago.
It's still rolling by.
Lots of beeping.
I can barely hear myself talk.
There you go!
Yesterday was an off day in Indianapolis.
It was a rest day, so my old tired bones got a little bit of a rest.
It's very cold here today but everybody's feelings are hot, patriotic.
The freedom ringing of every one of these overpasses that we've been through the last several days is just amazing.
People are tearing up, drivers are tearing up when they see all the support that they're getting across the country.
So today we Today we go about 200 and some miles to the west side, the east side of Ohio near the Pennsylvania border.
The following day they move into Hagerstown, Maryland and after that it's who knows.
They say they're going toward D.C.
I don't know whether they're going to go into D.C.
although some other trucker groups say they will.
Last night they had some more trucks join them from other parts of the country.
They're expecting some truckers from the northeast to meet them in Hagerstown, Maryland.
And that's the latest.
steve bannon
John, amazing.
Your footage is absolutely incredible.
This thing is now 70, 80 miles long.
It's going to take a stop though in Ohio, I understand, is your next stop Ohio tonight?
And then on to Hagerstown?
unidentified
And then on to Hagerstown.
But I've had communication via YouTube and other social media.
People want to know, where do I go to sit on an overpass?
They're very excited.
Other things, people said, hey, I saw you with this hat in the war room, where can I get one?
So, the country's joining in on this.
steve bannon
The country's definitely tuning in.
I don't think Fox News has had a second of this, but we continue to push it out just to make sure people... It's a safe environment.
It makes sure people can go out there and support it if they so desire.
We're going to put all the maps and routes up today.
They are going to stop in Ohio.
They're not going to come directly to Hagerstown.
They're going to go to Ohio for another rally point.
Last night, the rally I heard drew 5,000 people.
It was incredible.
We started the show with the truckers.
That's the trucker group duet that sings the Amazing Grace.
John, what are you going to be doing today?
How can people follow you?
unidentified
We're on everywhere, actually, but start out with the website, which is www.letsrollamerica.us.
It's got all of our social media contacts there.
And as we continue this cross-country trip, anybody who'd like to contribute, it's gibsongo.com forward slash letsrollamerica gibsongo.com Let's roll America, and your audience has been very generous.
Thank you very much.
steve bannon
Okay, well, John, be safe.
It's been safe so far.
People want to join the convoy.
Find out how you join it.
People want to meet at a rally point.
Find out how you meet it.
People want to go to an overpass.
Go online, and you can find it all out.
We'll push it up.
We'll push it out on all of our chat rooms, forums, all that.
John Sproulopoulos, thank you very much.
Reporting live from the convoy.
We're going to have more convoy reporting We're going to go pretty intense and report on the convoy for the next couple of days until they get to Hagerstown.
So it's going to stop tonight in Ohio.
I think it was Maureen Steele who said they're going to come direct to Hagerstown.
They're actually going to go from Indianapolis to Ohio.
There's going to be a stop there and then they're going to get to Hagerstown I think on Friday for Saturday.
I think they're going to have a rally on Saturday.
But we'll keep you all up to speed on this.
We're going to have other people from the From the convoy on here later in the show, we got a PAC show.
Steve Cortez is my co-host for this first hour.
I really want to make sure people understand the information, cyber and economic war that we're deep into today, because you need to understand this for your own personal well-being.
You need to understand exactly what's going on here, not just what's being reported on the surface.
But I want to bring in Boris Epstein.
And Boris, we don't have a lot of time to go through the polling and some of the analysis you have, but I've got to bring up this fact that we had the Ukrainian, I think, Member of Parliament there.
She was on NBC yesterday.
And I want people to fully understand, and this is what I've said from the absolute beginning, that we have given And this is not Steve Bannon saying this.
This is an elected official of the Ukrainian people saying this.
That we're totally disappointed in the speech the other night.
And the reason we're disappointed, they have been promised, to what they think, they have been promised protection.
And what she was arguing for right there is a no-fly zone.
Which a no-fly zone, as people know, we did that in Iraq.
Not just military involvement.
There's one thing about putting up a no-fly zone in southern Iraq or up in Kurdistan or near the Kurds against what Saddam Hussein had.
There's another thing of putting up a no-fly zone in the heart of Eurasia where Russia's and Belarus' are right next to you, right?
It's a different deal.
You're one inch away from a shooting war by doing that.
In fact, everybody will say it will lead to a shooting war.
Well, I want to make sure people understand.
We have information war, which is kind of the propaganda or the information from TikTok to MSNBC to RT.
Everything's coming out.
You're being flooded with that nonstop.
You then have the cyber.
That's all part of the digital.
You have the cyber of which there is superpower.
Right.
You then have economic war, which we're going to talk about a little later.
We've got Philip Patrick, we've got Steve Cortez.
We're actually going to go to a segment of Chris Hayes last night on MSNBC that has been the best analysis of this war since it started.
We're going to go to that in a second.
But Boris, I want to bring you in because There's kind of this emotional things going on now, and you can see the mainstream media, Western Europe media, just on, you know, the Aaron Burnett of it all, right?
Where it's all about the moms, it's all about the moms, and we're not saying it's not horrific of what's happening.
But when you look at geopolitics, and you look at the vital national security interests of the United States, and you look at the good for the Ukrainian people, walk me through what they, because this was their member of, I think she's a member of the European Parliament, No, because she's a member of parliament, but she was very articulate about, and kind of not pleading, but almost demanding, you guys committed to us, you promised us, and they've been led down this path.
As Mershimer said at the University of Chicago, Professor Mershimer, about the tragedy of great powers.
They've been led down the primrose path by the EU, by NATO, by the American elites, by the Biden administration, into a thing that they're a full ally.
Boris Epstein.
boris epshteyn
Steve, honored to be here today.
This goes back to the UNA party, and it goes back to the Clinton administration.
When the Clinton administration was a big part of taking the nuclear weapons out of Ukraine, made all kinds of promises.
Don't worry, give up your warheads and we'll protect you no matter what happens.
And then it continued under George W. Bush with his radical expansion of NATO and the EU eastward.
Of course, Barack Obama, President Trump came in and said, hey, we've got our own problems, OK?
And he started pushing on NATO and the other NATO countries to take a much greater role and actually live up to their responsibilities, live up to their promises, and put forward the 2% But hang on.
Ho, ho, ho.
Slow down.
national collective defense and national defense and now Joe Biden has absolutely no clue what he's doing of course and has teed off on this Ukraine issue because it's the only thing that he's trying to hang on to or the team that controls him are trying to hang on to for any legitimacy even though as we've seen in the polling only about five six percent of the American people actually you know care and believe that this is a top issue for them.
As far as the Ukrainians are concerned.
As far as the Ukrainians.
steve bannon
But hang on.
Ho ho ho.
Slow down.
Slow down.
You think Bush 43 was bad?
Bush 41 was awful.
You know, he won because it was going to be Reagan's third term.
Jim Baker and these guys actually destroyed much of Reagan's second term.
Let's be honest and blunt about that.
What they did at Tiananmen Square, remember, Tiananmen Square happened, Jim Baker and these guys sent Skorkov off to tell the Chinese Communist Party, to tell Deng that, don't worry, we got your back, you know, this thing will bliss over and we'll work you into the world system.
That was Bush 41.
And ask the Chinese, they're still livid about that.
And this Minsk Agreement, which was the predicate of getting rid of the nuclear weapons, people realized at the time, the American people didn't have the will, and they never brought it up like a formal military treaty, correct?
There were parts of that in there, just like in Kazakhstan.
Kazakhstan gave up all their nuclear weapons too.
We didn't make a military agreement.
I want to make sure people understand that because they continue to refer back to this today.
First off, MSNBC and these guys tried to lie and try to spin it that we have like an alliance with them.
They're an ally.
They kept saying Rachel Maddow is very smart.
She kept dropping out that they're an ally.
We don't have a military alliance.
They are not an ally.
boris epshteyn
No formal alliance.
steve bannon
No formal.
We do not have an alliance.
Have they depended upon some commitments that they feel we made?
And this is what's going to get quite tough.
And the point is, Boris is going to stay for a few minutes, the other thing.
Joe Biden's ratings and favorability in Ukraine is worse than the United States and his historic lows here.
We're going to be back in the war room.
Cortez, Boris Epstein, Philip Patrick and Birch Gold all next on the economic war that's engulfing the world right now.
unidentified
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
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Later in the show, we're going to have Moms for Liberty.
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Because if you're going to man the ramparts, and that's what we're talking about, By the way, we're going to have Dan Schultz on later.
I forgot to tell the team that Dan Schultz is being attacked by ProPublica.
Dan Schultz is going to be here because the precinct strategy concept is on fire.
Okay, let's go to Boris.
Right now, in Ukraine, what do they think of Joe Biden?
boris epshteyn
Very low.
It's a very low opinion of Joe Biden.
I'm hearing it from the ground, direct sources from there.
are absolutely disappointed, really disgusted with Joe Biden and his lack of leadership.
And again, and that was articulated by that member of parliament, right?
They expected for Joe Biden to be this beacon and savior.
Maybe they haven't been following the news and see that Joe Biden is just feckless, pathetic and illegitimate.
This is the second time in six months, Steve, that Joe Biden has lost both sides of a conflict.
In Afghanistan, obviously, disdained by the Taliban, disdained by the Afghanis who were rolled over by the Taliban because Joe Biden left them at the mercy of the Taliban.
So, Joe Biden, total disaster in Afghanistan.
And same thing here.
Joe Biden and his team are going full out economic warfare against the Russians and the Russian people, and they're also viewed as not protecting the Ukrainians and the Ukrainian people.
So Joe Biden has done actually what's very difficult to do.
He's taken two major international conflicts and positioned himself in a way that he's despised by both sides of those conflicts in Afghanistan and the Ukraine.
And maybe that's why the new polling came out yesterday, Reuters, Ipsos.
25% of Americans believe this country is heading on the right track.
61 wrong track.
Independence in the teens.
So the view of Joe Biden as feckless, as weak and lacking any sense of leadership permeates not just America, but permeates the world.
steve bannon
And now they're not being straight.
We are dedicated, and all the liberal media watching, we're dedicated to make sure that we sort this thing out so they actually walk the American people through exactly what they intend to do.
This is Biden administration.
One of the reasons his popularity is so low in Ukraine, people feel like they've been misled, right?
And you've got people pouring in there.
Right now, let's be blunt about this.
In Kershawn, or Kershawn, that fell last night, quote-unquote fell, the mayor was on CNN last night and only had him on there for a minute, took this clip off, but he said, hey, we'd never had any military support.
That's why I kind of had an open city or made the deal and had the guys come in.
I just don't know where the Ukrainian military is.
I see things on the Polish border now that people from Poland are going in.
You've got these stories about American Rangers or volunteering to go to this foreign legion they've got.
I'm just waiting for the footage of where this organized approach of all the tens of billions of dollars we've shoveled into the Ukrainian military, where is it?
Just show us some footage.
Make us feel better.
But there's so many conflicting messages going back and forth.
boris epshteyn
Supposedly from Germany, from NATO as well.
steve bannon
Real quickly, I gotta bounce, there's so much to do and I know you gotta bounce.
Gableman.
Voss put out a memo, it's up on Gateway Pundit, everybody should go to the terrific Hoff Brothers.
Gateway Pundit's got a story.
Voss puts out a memo, and he's the guy that retained Gableman, and now he's cutting Gableman loose?
Or he's saying this stuff, I never asked a guy to go down the decertification process?
Give me a minute on that.
boris epshteyn
Typical RINO, absolutely wrong.
This is what we're up against, and the battle lines are now clear.
It's the RINOs versus the law and the rule of law and the regulations and the facts, okay?
Judge Gabelon laid out the fraud, laid out how Zuckerberg and the Democrats stole this election in Wisconsin, and he laid out what can be done about it under the Constitution, applicable rules, regulations, and common law.
Robin Voss doesn't like that.
You know why?
Because Robin Voss Wanted to slow tap this thing the whole time, but Gableman came in and said, I'm not going to do that.
I'm going to do what I'm hired to do, which is bring about and expose the truth.
And that's what he's done.
And good on the Gateway Pundit, the Huff Brothers, who are great for exposing Robin Voss.
That's another benefit of this report.
Not only does it expose the truth, the fraud that was perpetrated on the American people, and the facts of what to do about it, it also exposes the rhinos who want to do nothing about it.
steve bannon
Little Jamie Raskin and Benny, you better dust off, before they try to change it, they're not going to change it.
The Electoral Control Act of 1887, which is the operative document.
And look, we're going to decertify this in Wisconsin, in Arizona, in Pennsylvania, and hopefully Georgia.
We're going to decertify...
All those four states.
We're not going to give up.
He's not legitimate.
We don't care if you don't like hearing it.
We don't care if you don't... By the way, where's the primetime hearings?
I'm sure Ukraine War... Can you slow down the Ukraine War just for a second so we get... Where's little Jamie Raskin?
Where's Shifty Shift?
Where's the Showtime?
I'm supposed to have Watergate-type hearings in primetime every night, every second of the night.
Where are they?
Can you please have those?
Can we please get those rolling?
Come on guys, I'm sitting on the edge of my seat, I'm waiting for this.
Liz Cheney, this is your prime, this is your star, this is the way you run against President Trump for president.
Kinzinger, Adam, you're out of politics, this is your media, you're a pretty boy, you're a Cosmo man, this is your time for your close-up, let's get the lighting right and the makeup right.
Where is it?
Let's go.
I'm sure it's going to be so scintillating that they'll want to take the Ukraine war.
I'm just saying.
Boris, how do people get to you?
Because I've got to do this MSNBC clip.
What's your social media?
boris epshteyn
No doubt about it.
Major newsletters coming out all day, every day.
BorisCP.com.
Sign up right now.
BorisCP.com.
Hot on Getter at BorisCP.
On Twitter at BorisCP.
TruthSocial at Boris.
And of course, the hottest on the gram, Boris underscore Epstein.
Tons of info coming out of Texas.
We'll have all breakdowns exit polling tomorrow.
Stay strong.
God bless.
All eyes on redistricting.
steve bannon
Okay.
I was told my clip was for under five minutes as we cut it, but it's not?
unidentified
No.
steve bannon
Okay, fine.
We're gonna have to wait to the clip to the C-block.
Let me bring in Steve Cortez and Philip Patrick.
Ben Harnwell was going to join us from Rome, but I got Ben off doing some more research on something.
Ben's compiling All the information for the major newspapers and the business sites in Europe right now.
There's a whole discussion about crypto and how you cut off crypto because crypto can be a way to get assets out there from these billionaires.
But we're gonna have him on tonight.
I've got Philip Pratchett, Steve Cortez.
Steve, before I go to Philip, we're gonna play the clip at the bottom of the hour because I want you two guys to comment on it.
Cortez, Here's the point I want to get to.
Has Joe Biden, he had a chance the other night, has he explained to the American people exactly what we're doing in Ukraine?
What are the stakes?
What's the legality?
What are our commitments?
What do we intend to do?
Because right now, ladies and gentlemen, what you're seeing on TV is like war.
That's the 20th century war.
Don't get me wrong.
They are horrible and brutal and tragic and will lead to people getting killed.
But you have cyber war, which is a whole new level of warfare.
You have information and propaganda war.
You have economic war, which is going to affect the entire globe.
And then you have kinetic war, and that's what you're seeing in the streets of Kiev right now.
Cortez, Frambus, where are we right now?
steve cortes
No, listen, Joe Biden doesn't have the decency or the respect for the American people to make his case.
For example, George W. Bush, as much as I think he was wrong, he at least went to the American people to make the case for why we had to invade Iraq.
And he sent Colin Powell up to the UN to, again, make the case in an orderly way.
I think they were dead wrong, but they had the decency and the respect to try to convince the American people that the sacrifices were worth it.
We see none of that from Joe Biden.
As a matter of fact, he's not even willing to admit that we are already engaged.
You know, I keep hearing from the Warhawks out there, oh, we want to do everything except for boots on the ground, right?
Well, hold on a second.
This is 2022, okay?
It's not a hundred years ago with the Great War where the only thing that matters are boots on the ground and trenches, okay?
By the way, I think we will end up there because of what we're doing.
But my point is, in 2022, economic and cyber war are probably more significant anyway, and we are now Fully engaged in a currency war.
Fully engaged in a currency war.
Literally trying to collapse right now, and so far succeeding in collapsing the currency of a major power that is itself a nuclear and cyber warfare power.
And on that latter point, as you often say Steve, perhaps more potent even than the United States.
And the Fed chair, I think this is important, The Fed Chair Jerome Powell, he had the gall to go to Capitol Hill yesterday, Stephen, literally while you and I were discussing the risk to the dollar of engaging in this currency war.
He went to Capitol Hill and he said, oh, don't worry guys, there can be more than one reserve currency.
Well, that is complete BS.
He is totally, totally wrong.
And the fact that a Fed chair would be willing to acquiesce, would be willing to surrender on dollar supremacy in such a blunt manner shows us, again, what disregard these leaders, so-called leaders of ours, from the Fed all the way to the White House, have for the American people and for the American dollar.
steve bannon
This is my point about experimenting.
Maybe his theory of the case may be correct, but it's never been, there's no historical precedent for it.
It's never been done before.
steve cortes
It's never been tried.
steve bannon
Particularly with a global, never been tried with a globalized economy.
Is this another, is this another rat?
These people are so reckless.
They're reckless.
And they're supposed to be the leaders.
Go ahead, sir.
steve cortes
The risks here are so asymmetric, meaning the upside, OK, if he's right, the upside is, OK, you get to destroy the Russian ruble, you get to punish the Russian people because you're hoping for regime change.
I think that's an incredibly dangerous game that the U.S.
has been playing for far too long.
But let's say you succeed, you know, based on your terms.
OK, fine.
Limited upside.
The downside is monumental.
The downside is An end to a century of dollar hegemony, which is a critical component of the American economy.
And this matters to regular Americans.
Even if you've never exchanged a currency in your life, even if you never watch financial markets, you benefit, all Americans benefit, from the strength of the United States dollar, particularly as it pertained to restraining inflation before Biden.
If the dollar loses its status, Americans will be punished in terrible ways.
steve bannon
This is the most reckless administration in the history of this nation.
Reckless.
Reckless.
Short break.
Back with Philip Patrick Birchgold and Steve Cortes next.
unidentified
to talk this through.
chris hayes
I think first let's talk about the sort of what seems obviously the most sort of lowest hanging fruit, which is the sort of oligarch targeted measures.
How meaningful are those?
How much of this is rhetoric?
Or how much are European countries and the US actually going to go after?
unidentified
There is an element of rhetoric.
You heard it in Congress today.
There's this cheer, this populist cheer to go after the bad guys.
And, you know, good riddance to them.
Let's go after them by all means.
We should look into our own crooks as well, and we should look into the loopholes that enable ours to escape as well.
And if they go hard on this and they actually try and uncover this shadowy wealth, they will indeed expose a whole undergrowth, which is not just Russian.
It's Ukrainian as well.
It's European.
It's American.
But they should do that, and they can hurt those people.
They're very vulnerable.
If you've got an $800 million yacht sitting in Hamburg harbour, you know, it's something that's really very exposed.
Of course, these people are immensely wealthy, so you can take the yacht away and the man is still a billionaire.
But I think the much more important question is, what difference will it make to the politics of the regime?
And the crucial thing here is that Russia is no longer the Russia of the 1990s.
Power is not shared between Putin and the oligarchs.
The power, the visceral, physical, violent power, is with Putin and the Serovki, the men of force, the security folks that come out of FSB, come out of the military.
And it's very unclear whether hitting these wealthy guys, the billionaires, will really change the game for the calculus for Putin.
chris hayes
Yeah, your point there, you're mentioning a billionaire named Alisher Usmanov, who had a yacht in, I think it was in, where was it?
In the northern city of Hamburg.
They did seize it.
unidentified
Yeah, I was sleeping, I mean, why was it still there?
chris hayes
Yeah, it's a $600 million yacht.
It has actually been seized.
We see that Roman Abramovich, of course, who's the owner of the Chelsea Soccer Club, which is, you know, an incredibly iconic soccer club, that will be selling that, you know, under pressure.
So this, it looks like this is happening, but just to center in on this point, because this is the one I've been asking, you know, the idea is that when we talk about a regime, right, that the oligarchs, almost like you might think of nobles in a court, right, can pressure the king.
And what you're saying is that the power relations just are far too unidirectional for that to have much effect.
I mean, they can be squeezed, but it's not clear that them abandoning Putin or complaining to him will have much effect.
unidentified
On the contrary, I think they'd be quite terrified of doing that out loud.
This is really, there's a huge shift.
So in the 90s, I think you could really describe Russia as a kleptocratic system.
Since really 2003-4, it's become something closer to state capitalism.
And the risks are extremely real.
Yeah.
They know this.
The visceral Khodorovsky ends up in the gulag for 10 years.
You do not mess around with these people.
This is a moment of existential pressure for Putin.
The general was describing this incredibly effectively a minute ago.
The military situation is extremely precarious.
Putin is not going to be worrying about the pocketbooks of folks who are rich.
And he can make them rich again afterwards through ways of offsetting whatever losses they suffer.
They've been through this before.
Putin has a whole narrative.
He'll call them in and say, look, we've traveled a long way.
We've got rich together.
It's now your time to sacrifice.
And the smart ones will play the game like that, I imagine.
chris hayes
Of course, the larger question are average Russians, who have nothing to do with this.
And of course, you know, again, you're the West, you're the EU and the US.
You've got, like, these two, you know, allow Ukraine to be invaded and co-opted and annexed, on the one hand, and nuclear war on the other, and you want neither.
You're trying to, you know, essentially pilot your way in between those, and so unprecedented levels of economic sanctions, coercion, is what has been used.
What are the effects going to be on the Russian economy?
unidentified
Because this is basically uncharted territory.
It really is.
The strike against the central bank over the weekend, as you mentioned in your setup, is the thing right now.
Everything else is being worked out.
It's not clear which banks will be cut out of SWIFT.
The correspondence banking thing that Biden announced on Thursday is important because that means even the really big banks in Russia can't deal in dollars anymore.
But hitting the central bank, that's a declaration of war on the national authority.
It hits every element of the Russian economy.
As soon as the markets hear that, you just sell everything.
There's no discrimination anymore.
Everything has to go.
Because the ruble's going to plunge.
All Russian assets are going to devalue.
Right now, it's not fallen as much as you'd expect, as they basically clamp down on all currency trading.
You can't take money out of Russia anymore.
You can't sell rubles even if you wanted to.
So we're in a real—this is a regime shift.
And we did this not after, if you like, Putin had accomplished his seizure of Ukraine to slap him on the wrist and punish him, but in the middle of a shooting war, which, as the general was explaining, is still undecided, right?
So this became us, in a sense, taking the side of the Ukrainians in this conflict, which I don't think was the original plan.
In a sense, we'd stood back, if we're honest with ourselves, 10 days ago.
Both the Europeans and the Americans had abandoned Ukraine to its fate.
If Putin was cynical and violent enough, he was going to take it.
And now their resistance has changed the game.
That has completely changed the emotional political dynamic of this and made it much, much more dangerous, frankly.
Well, that's very sobering.
chris hayes
I guess the final question here is the Moscow stock market has been closed for four days.
There's this crazy thing where they can't open it because it's going to plunge and they're just keeping it closed.
But at a certain point, you know, the cat's out of the bag.
unidentified
Yeah, this is Great Depression era.
This is like a national bank holiday forever.
The reality is too horrible to contemplate.
steve bannon
In all the media that's been done, And every second of this has been done.
That right there was the moment of truth.
Chris Hayes saying the Russian, the average Russian has nothing to do with this.
This is Chris Hayes, not Steve Bannon.
Chris Hayes, the average Russian has nothing to do with this.
And then I think it's Adam, I think his last name's Tose or Tues.
He's at Columbia.
Very brilliant guy.
Not a fan of Trump.
But it doesn't matter.
And I just want to repeat what he said.
This was a, this was a, uh, uh, an attack on the national, this was a declaration of war, not the war rooms line and not Steve Bannon's line.
So all the media, Media Matters and Mediaite and all you guys and the people that follow us nonstop, this is his phrase.
This is a declaration of war on the national authority of a state.
This is a declaration of war on the national authority of a state, and it's shifted with the emotional and political atmospherics over the last couple of days.
You couple it with the Fed chair up there yesterday throwing out, yeah, you can have multiple currencies, you can have two primers of currency.
These people are reckless.
They're dangerous.
They're getting people killed.
More is going to happen.
The Ukrainian people and the people running there with the Molotov cocktails and the Kalashnikovs defending their bloc, thinking they had the support.
And yet, at the same time, you have had the United States of America, and I want to repeat it, has had a declaration of war on the national authority of the state of Russia.
Because this is about regime change.
Chris Hayes said the average Russian got nothing to do with this.
He's just some guy living in a totalitarian dictatorship, one level up from what the poor Chinese that allow Beijing have to go through.
The oligarchs, the kleptocracy skimmed all the money, and now it's run by Putin, as we said, and the KGB guys and the military guys, the people of force.
Right?
So the poor Russian, the average Russian citizen, he doesn't know he's getting conscripted to go down there and fight in the southern part of the country or in the Ukraine, you know, steppes.
It is a declaration of war on the national authority of the state.
That's one of the smartest guys around here.
And he cut to the whole thing.
Hey, yeah, the oligarchs, but they'll get them more money.
That's all for show.
It's going to get more money, get more yachts.
I'm going to make them more money.
Made them multi-billionaires worth $100 billion, $200 billion.
Didn't think the guy in Chelsea is going to take any hit on selling the Chelsea team.
He's not.
The key is the United States, just to make sure, the United States of America has gone to full out economic war and in modern warfare that is every bit as powerful or more powerful than kinetic warfare, than having a couple of F-16s fly around or having, you know, putting our blood, our young men and women, in harm's way.
Now they've put everybody in harm's way.
Please understand that.
You're in harm's way.
You're a participant in a war that the President of the United States has not come through and walked the American people through exactly what the stakes are, why this is in the vital national security interests of the United States, and what are the possibilities of what's going to happen.
Please remember, and I know the media hates, the left hates me saying this, but you're just going to have to live with it.
We declared war on the Empire of Japan on, what, December 7th, 1941, after they attacked us.
Excuse me, on the day after Pearl Harbor.
December 7th, they attacked us.
The next day, FDR went up to Congress and declared war.
And FDR's guys thought through it.
They did not declare war on Nazi Germany, although that shooting war was now in 1941.
By the time they hit, they and the Russians were full at it.
Right?
They'd already bombed London.
They'd already bombed.
They had the Blitz.
They had everything in France.
Paris had fallen.
Didn't declare war on Nazi Germany.
Nazi Germany declared war on us 48 hours later.
And then we declared war.
unidentified
Why?
steve bannon
They didn't think they had the argument then to take to the American people after we'd been hit by Hitler's partner.
FDR and these guys didn't think they had the argument since he just promised the American people in 1940 to stay out of the European war.
He didn't think he had the argument to make the case of the American people.
And I would respectfully submit that FDR is a pretty smart politician.
Okay?
This is the situation we're in.
Steve Cortez, take it down when we get to Philip Patrick.
Right there on MSNBC last night, you had a glaring moment of truth, and I'm sure he ain't going to be invited back on.
I'm sure the guys at MNBC said, take that thing down, bury it.
Chris Hayes, have you lost your mind?
What did you do?
Because that's the game.
I mean, that is it, right?
That is...
alex jones
That is...
That is it.
unidentified
I was worried my cord got unplugged.
steve cortes
That's why I was looking down.
unidentified
What are we doing, guys? You gotta give me an answer.
steve bannon
Okay, fine.
We don't have Cortez.
steve cortes
I can hear you, Steve.
unidentified
Okay.
Okay.
Two, one.
steve bannon
So we just had our first cyber attack.
I'm only kidding.
Slight technical problem here.
I think I got so worked up, I think I blew all the circuits.
I was about to blow my circuits.
We've got about a minute and a half here, Cortez.
We're going to get this sorted.
Did MSNBC just give us the signal last night of what's really happening here, sir?
steve cortes
By the way, other than your show, Steve, that was the smartest few minutes of discussion on Ukraine that I've seen so far in all of media.
And it was on MSNBC of all places.
But it wasn't just the professor who was very erudite.
It was also Chris Hayes who was willing to admit that we are at economic war with Russia and that it is unprecedented.
You're so right, Steve.
It is incumbent upon Biden to make the case to the people why this level of escalation that we're already in, not that we could potentially get into, why is this level of escalation warranted?
What are the risks and why are the risks worth it?
None of that case has been made to the American people.
And I don't think a lot of the American people, unfortunately, even understand, which is why this show is so important.
You know, we have to educate people to arm them with the information to realize the risk we are taking.
And for what?
For a regional ethnic conflict in which America has no vital national security interest.
steve bannon
Hang on there.
Everybody's gonna come back after the break, get this thing sorted out.
You're a combatant.
This audience, you're a combatant now in the Third World War, trust me.
short commercial break. Be back in a moment.
steve cortes
Sadly, right now it's probably easier to find a Ukrainian flag than an American flag in the halls of Congress in the Washington, D. C.
lobbyist offices on K Street, and in New York newsrooms.
But if you are worried about the continual escalation of America's involvement in this tragedy in Ukraine, And if you believe, as I do, that you're being lied to by all sides, by the Russians, by the Ukrainians, and certainly by our own American media, then know that you are not alone.
And let me give you some data to back that up.
Quinnipiac's newest poll out asked citizens, do you approve or disapprove of Biden's response to Russia's invasion?
Approve?
Only 40%.
Disapprove, 47%.
That 40% number, not very different from the 38% overall approval rating for Biden in that Quinnipiac poll.
Here's the point, Patriots.
Stay the course of an America-first foreign policy of realism and restraint.
steve bannon
OK, welcome back to the War Room.
I got to ask you, because this guy is a fabulous guy.
He's a friend.
He's a good man.
But when I got Chris Hayes on MSNBC, that's more balanced in his approach than our own than Brother Sean Hannity over at Fox.
Talking about cutting the heads off snakes and getting Lindsey Graham, get all these neocons up there.
All they want to do is send your kids to war with your tax dollars.
How is this happening?
How's Chris Hayes having segments like that that are probably the most powerful segments that have been done in this war yet, the real war?
And you've got Hannity trying to decapitate a regime, trying to have regime change.
steve cortes
Steve, I'll give you one reason why Hannity is losing the plot completely.
It's because he's had too much of Lindsey Graham.
When you have Lindsey Graham on your show, the globalist loser, every other night and you do nothing but love and kiss up to him, unfortunately it's going to warp your mind, I guess, over time.
That's what's happened to Hannity.
To be specific, here's what Hannity advocated for yesterday on his radio show, and I think some of it was In in social media, he said number one that NATO should directly attack the Russians directly attack the Russian convoy He claimed we should do it with drones and then somehow try to say we didn't do it That was his first bright grand idea and then his second was to assassinate Putin As if that is somehow consequence-free, that game of decapitation.
We've tried that quite a bit in American history.
Let me give you two recent examples.
We got rid of Muammar Gaddafi, and what did we get?
We got Benghazi.
We got rid of Saddam Hussein, and we got ISIS.
That is an extremely dangerous, not to mention illegal, game to play.
So it tells me that we live in an upside-down world in many ways, where Chris Hayes is speaking truth and Hannity is spewing nonsense.
But I guess my main point, which I tried to make in that Chalk Talk, is we're being bombarded with lies.
Lies from all sides.
Clearly Putin is lying and he's a treacherous gangster who committed a terrible crime against the people of Ukraine that is ongoing.
The Ukrainians are continually lying to us about things like Snake Island, like the ghost pilot.
They continue to bombard us with lies as well.
And then, most importantly, our own media lies to us.
Constantly.
And whenever all these forces line up together, whenever you have George Soros and Hannity and Lindsey Graham and Kevin McCarthy in the House, when all of them are lining up on the same side and all of them are donning Ukrainian flags, you know, your antennae should go up.
That should be a time for you to get skeptical.
And my point is to the deplorables out there, to the patriots, You're not alone.
They want to make you feel as though you're alone.
There's immense pressure right now in corporate media, in social media, to comply and to join in the narrative and to pretend that this is some existential crisis for the United States, the terrible tragedy in Ukraine.
It is not.
You're right to be skeptical.
You're right to believe that you are being lied to.
And you need to know the truth, which is that America is already deeply engaged.
We are escalating on the economic side.
At an unprecedented pace, and the risks for regular Americans are rising dramatically, and we need to call to task those in power, whether it's a host on Fox News, or a senator, or the President of the United States.
steve bannon
The first casualty of war, as you know, is truth.
And remember, our founders told us, don't go abroad looking for monsters to slay.
I think we've had enough lessons in that.
I want to go to Philip Patrick.
Philip, we've got a couple minutes here.
I'd love to keep you over, although I know you're super, super inundated.
Over at Birch Gold.
Has gold, so far, is 5,000 years of history backing you guys up that gold is a hedge?
Gold is a hedge.
We're going to have Hardwell on tonight to say that, hey, the whole crypto world, they're going to try to shut that down here momentarily.
Is gold turning out to be a hedge in times like this?
phillip patrick
Gold is certainly turning out to be a hedge.
It is moving up on the back of everything that we're discussing at the moment.
So yeah, performing really well as stocks decline, as inflation rises, gold is doing what it's designed to do and that is keeping pace.
It's doing really, really well.
steve bannon
You saw the madness of the Federal Reserve Chairman yesterday saying you could have more than one prime reserve currency.
I had you listen to Biden's talk up there on Capitol Hill and about his inflation plan.
Give us a couple of minutes on your thoughts of where that's going to lead us, sir.
phillip patrick
Yeah, so the good news is he feels our pain, right?
And he has a plan to tackle inflation.
The only bad news is the plan itself.
I mean, it's nonsensical, right?
unidentified
The guy came out and these were his big points.
We're going to control prescription drug prices, right?
phillip patrick
That constitutes about 1% of an American household expenses.
We're going to lower energy prices by wait for it.
fighting climate change, which I'm really struggling to understand the correlation there.
And of course, the massive move of subsidizing daycare.
I mean, it's a nonsense.
It seemed more of a nod to special interest than it is any meaningful way to address inflation.
Now, there were two things that he mentioned, right?
One was releasing strategic oil reserves, right?
That theoretically could have a meaningful impact on inflation.
Lowering grass prices, that'll help address inflation.
The problem is two things.
Number one, this was predictable, right?
We've been closing pipelines here in the United States, which he knew would raise the price of gas.
Now we're trying to lower it.
It's confused.
Secondly, it's not meaningful enough.
30 million barrels of oil constitute about one third of global daily consumption.
We did it before.
50 million barrels not long ago.
It didn't do anything.
Oil prices dropped on the back of that announcement from 116 a barrel to 110.
Still up 20% for the month.
It's a nonsense, right?
and ten, still up 20% for the month.
It's a nonsense, right?
The other side of things...
Am I running out of time here?
Sorry, Steve.
steve bannon
No, no.
Give me... I'll tell you what.
Can you hold over through the break?
Because I want to get to the second part of that.
Correct me if I'm wrong.
I think American consumption is 20 million barrels a day.
I might be off there a little bit, but I think it's roughly 20 million.
It's 60 million.
It's three days consumption.
It's nothing.
It's not even a drop in the bucket.
It's all optics.
This is what you're being spun on now.
They're spinning you constantly, 24 hours a day.
That's why we're here, to try to give you a framework.
To think it through yourself, immerse yourself with information, make sure you can make your own decisions.
Short commercial break.
Cortez, Philip Patrick, join us.
We've got a packed second hour.
Strap in.
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