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May 2, 2022 - Bannon's War Room
48:54
Episode 1,824 - Germany Underwrites Russian War Machine While Screwing AmericaEpisode 1,824 - Germany Underwrites Russian War Machine While Screwing America
Participants
Main voices
r
richard grenell
13:04
s
steve bannon
25:06
s
steve cortes
06:09
Appearances
Clips
a
anthony fauci
00:07
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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.
anthony fauci ▲ ● ▼
We have to prepare for the worst, always, because if you don't and the worst happens... War Room.
unidentified
Pandemic.
Here's your host, Stephen K. Bannon.
We believe that we are visiting you to say thank you for your fight for freedom, that we are on a frontier of freedom, and that your fight So our commitment is to be there for you until the fight is done.
Thank you for the first questions.
It's a signal of strong support for Ukraine, strong support for the United States, the people of the United States, the Congress, and bilateral support.
This is a high-priced signal.
I, as the President, our team and the people of Ukraine are talking about the fact that the United States is today really the leader of the powerful support of Ukraine during the war against the aggression of the Russian Federation.
And I want to thank you for helping Ukraine to protect sovereignty and territorial integrity.
steve bannon ▲ ● ▼
Okay, welcome.
You're in the War Room.
It's Monday, 2 May, Year of the Lord 2022.
It's the first business day of the second quarter.
A disastrous, obviously, financial first quarter.
We're going to get into all that a little later in the show.
We're going to do Capital Markets, Economics.
Quite important primary tomorrow in Ohio.
We're going to get into all the politics of it, the details of the grassroots, where this thing's breaking right now, and a lot more.
We've got the digital gulag this afternoon with the Committee on the Present Danger of China.
We're going to have Joe Allen and Frank Gaffney tell us a little bit about that as kind of a precursor, a preview.
A lot going on.
Notice we start today with the voice of Nancy Pelosi, not Rachel Maddow, our morning Mika.
Just wanted to change things up where I normally start with Mika or with Rachel.
And I want to say happy birthday to Mika.
It's Mika's birthday today.
Right, I think she's a I don't know her exact age.
I think she's a woman of a certain age We want to say thank you to make her for all the great content.
You give us every day that we can put up.
Okay?
Nancy Pelosi essentially in The good news is she skipped the White House Correspondents' Dinner, which was all the Uniparty here over the weekend in all their full glory and nonsense.
She skipped that to go to Ukraine, kind of a surprise visit.
But even more surprising, she gave a full-throated, open-ended commitment, open-ended militarily and open-ended economically.
And there's a story in USA Today, I've got it up on my getter site right now, talking about the rest of the world is getting cold feet, but exactly what America, as we talked about last week, in the last 48, 72 hours, this change of narrative, to talk about victory, to talk about degrading Russian military capabilities.
The President of the United States has not enforced the War of Powers Act, he's not come before the American people, hasn't gone to Congress for any declaration of war, we're at full economic war.
Under the concept of hybrid war or unrestricted warfare, where you have both cyber, you have information war, you have economic war, and then you have kinetic.
We are full-blown offensive economic war with Russia, trying to take down the central bank, trying to take down the ruble, sweeping all their reserves of dollars and euros.
Of course that worked out really well.
Uh, the Russian revenues for their gas, natural gas, doubled, right, in the month of, uh, in the month of April.
Uh, the ruble had, April had the best, had its best month, I think, ever, vis-a-vis the dollar.
Uh, we told you that weapon of, of weaponizing the dollar can only be used once.
It's gotta be used against the Chinese Communist Party and the Central Bank of China.
You can't use it multiple times if people are going to come up with alternatives to that.
So we're going to get into all of that.
But first, we asked somebody we've been trying to get on the show for a while because he's one of the most knowledgeable guys in the country.
But more importantly, or as importantly, he is obviously in the MAGA, America First movement and with President Trump.
One of his senior advisors on national security affairs and foreign policy.
It's Ambassador Rick Grinnell.
Ambassador Grinnell joins us today.
Ambassador to Germany.
He was also acting DNI, Director of National Intelligence, which all 17 of the major, yes, that's right, 17, 17 of the major intelligence Apparatuses we have report up to that, and he was known as the individual that came in and declassified everything.
He's also leading a major effort in California.
So we're gonna get to all of it.
First off, Ambassador, and if Captain Bannon and the staff can put up this either, it doesn't have to be my getter, but it has to just be the article in the Daily Telegraph.
I want to get that on the screen with Ambassador Grinnell, and I want to put that on all the platforms.
So, Ambassador Grinnell, you were specifically selected by President Trump because you had had a long career in the State Department and knew everything about it, but you were picked not to go to State, but actually to go be the Ambassador to Germany for the central reason of what President Trump's vision Of our alliance with NATO, and how important was Germany as an economic partner, particularly with this great war against the Chinese Communist Party, and how important the German economy, particularly the Middelschmidt, or whatever they call those middle companies, the manufacturing companies.
You went over there as his ambassador.
Walk us through The Daily Telegraph story, I think what is so confusing is that the Germans, at least it looks like, are refusing to stop their natural gas import of cheap Russian gas and paying for it.
Maybe you think about paying for it in rubles.
They're basically providing the hard currency for the Russian war machine to keep pounding.
So you, Ambassador Germany, you had to tangle with these guys every day under Merkel.
You went under as President Trump's personal, obviously representative of the country, but he picked you to say, hey, we got, Rick, you got to sort this German thing out.
Walk us through your time there, what you try to accomplish.
And as importantly, today, what is Germany's mindset in this kind of expanding, metastasizing Ukraine war?
richard grenell ▲ ● ▼
Oh, where to begin, Steve?
This is really unbelievable and I'm glad that you zeroed in on this because that's exactly the case.
I've been all over the media and social media trying to say, when do we start the debate on 16 years of Merkelism?
Because I think that it points to a Ukraine war, it points to Crimea, it points to Brexit for sure.
And so you hear the Europeans complain a lot about rewriting the borders of Europe or shrinking EU and I think that you have to be honest about it and blame Chancellor Merkel.
Let's unwind this.
Remember that the Green Party in Germany was rising fast and really beginning to say to Chancellor Merkel, we're going to topple you.
We're coming after you.
The party, the Green Party was really rising.
Think of the Green Party as soccer moms of Frankfurt.
And they're very wealthy individuals who care about environmental issues.
And so they were calling for getting rid of nuclear energy.
They wanted to get rid of coal.
And in order to keep power, Chancellor Merkel decided to triangulate on the issues.
She grabbed their issues and took them as the CDU issues.
The Christian Democrats, her party, and she was trying to keep the Greens at bay.
So whenever the Greens had a popular issue like getting rid of, you know, nuclear energy, coal or manufacturing jobs, she would grab that issue and hold on to power.
Now, unwind that after a while and you put a manufacturing country, the largest economy in Europe, Germany,
In a bind because you can't run manufacturing plants with wind energy and so you know I can tell you unequivocally knowing the CEOs of German companies they didn't want to take on Merkel but they hated her policies and so after a while the Germans were trapped into this leverage point with the Russians and
I've been in a lot of meetings between Chancellor Merkel and President Trump and she would constantly say, Oh, Donald, you don't understand.
We've got this under control.
The Russians would never weaponize this energy issue.
And we would push back constantly and say they've already done it in Ukraine.
And we've seen them doing it now in Bulgaria and Poland.
It's important, Steve, to note, I always tried to say this when I was in Germany, is that the Americans just believe in diversification.
By the way, many European countries were with us.
It was wrong for the American media to pretend like Germany was controlling all of the EU.
The French were against the German policies, but Merkel was able as the largest economy and an economy that had a surplus every year to be able to beat back some of that.
We were very clear that Nord Stream 1...
Was part of the diversification strategy for energy in Europe.
We believe that some Russian energy is important, but Nord Stream 2 went too far.
Nord Stream 2 was not just a pipeline of gas.
It was a pipeline of influence from Russia.
They went around Ukraine, as you know, and it really upset the Europeans.
But our media in America completely took Merkel's side.
And so there was this constant kind of barrage of media attention that Merkel is right.
The Russian-German relationship is fine.
Nothing is going to come of this.
But I would argue that not paying attention to the rise of Russia and what they were doing.
I mean, they took out an individual in the middle of Berlin.
They killed this individual and that still didn't wake up.
I think that there's a natural tendency between France and Germany that should be played into by the Americans.
I'll finish with this.
I went around Germany and told them constantly that one of the reasons why Americans care is because we've sacrificed multiple times for Germany and we will not allow the Germans to slip into a foreign policy like Switzerland.
We need Germany to be western facing and to constantly, when there is a fight, take the side of the West.
This isn't a transatlantic alliance as much as it is a Western alliance.
And they need to start acting like it.
unidentified
And we push them hard on it.
steve bannon ▲ ● ▼
Look, I remember the conversations I had with the National Security Advisor when they came in the first time.
I think you were just getting confirmed.
But here's the thing.
For MAGA and the American First Movement, when we look at this, The structure of their economy, you just said they got played with Greta.
They shut down, I think the last nuclear power plant's about to be shut down.
They've played it, the Greens have played them.
I don't know if the Greens are totally backed by Russian influence operation, but some of it is, no doubt.
They are totally beholden on energy because they change it.
The interior minister said they're going to have social unrest, right?
They're locked in there.
They also refuse to pay the 2% of GDP to arm themselves.
And when you look at, Rick, I know because you and I talk, when you look even at their defense budget, it's got green energy, it's got health care, it's everything but weapons and training and interoperability.
So Rick, as America sits there and they're talking about this $33 billion, but worse than that's this open, and we're going to stop that, but this open-ended commitment Pelosi and these guys are making.
If they will take the energy and give the Russians hard cash and they won't arm themselves, is that an ally?
We got about two minutes and then we'll take break and have you take your break.
But is that an ally?
richard grenell ▲ ● ▼
It's such a great question because I would push them constantly to say, you're feeding the beast.
You're not paying your NATO bill, and yet you're feeding the beast of Russia who is the belligerent player in Europe.
And I've said to Chancellor Merkel constantly, look, you are responsible for Brexit, you sat silently with Obama when Crimea happened, and now look what we see.
And President Trump actually in a very poignant moment with Chancellor Merkel said, I don't blame you.
I don't blame you fighting for your country, not paying your bills and letting the American people pay.
You've outsmarted every single U.S.
president before me, but you can't blame me now for sticking up for the American people.
You can't blame me for stopping you.
And I thought it was a really poignant moment, and especially when he sent her the white flag, which is true.
He sent her a white flag and said, you know, your policy is surrendering to Russia.
He was on this early.
He was right.
steve bannon ▲ ● ▼
Ambassador Grinnell, just hang on.
We're going to take a short commercial break and return with Ambassador Grinnell.
A couple of things we're going to get into.
By the way, the greatest concept I've ever heard.
I'm sorry, the soccer moms of Frankfurt.
Genius.
Okay, we're going to get into the Kosovo-Serbia deal that doesn't get enough attention.
Very important.
Shows you Trump's overall strategy for the world.
Part of it.
Also, we're going to talk about this big initiative in California.
Short commercial break.
Ambassador Rick Grinnell on the other side in the war room.
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. Bannon.
steve bannon ▲ ● ▼
Oh Okay, remember, we got the two-gun approach here.
You have to get a great night's sleep to man the ramparts at The Worm.
The reason the show is so powerful is not the production team, not myself.
It's this audience, the biggest activist audience of MAGA, of the Trump movement, of supporting President Trump, of America First, of all of it.
And it gets bigger and more powerful every day.
Inclusive nationalism, participatory populism, we don't care if you're a mom at a school board, are one of these great fighters in the Rio Grande Valley.
Hispanic Americans who are running for office and taking back these congressional districts.
It's amazing.
But to do that, you need a great night's sleep.
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Which I had to tell him, I said, you know, Elon Musk doesn't quite own this shit.
It's gonna be a while.
Like, maybe never.
Uh, he entered, uh, he went on Twitter, joined up, put up some of his stuff on the election, was immediately taken down.
Okay, so the armor-piercing shell, Mike Lindell, still in the fight.
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Okay, Ambassador Rick Grinnell, President Trump's hand-picked Representative to represent America first the United States of America, but particularly an America first point of view Given his long time in the State Department.
He knew where all the bodies were buried.
I just want to go back to one concept you brought up Ambassador the soccer moms of Frankfurt the reason that the soccer moms of Frankfurt in the very in this is that the deplorables underwrite their defense and And obviously, you know, in this energy thing, they're providing hard currency to the Russian war machine and buying it cheap, right?
Plentiful and cheap.
I think that sort of upsets people.
The soccer moms of Frankfurt, they have the flexibility to make those decisions like the soccer moms in America don't have.
And they're going to even get more crushed.
And I think one of the things with the two percent, remember when President Trump said, hey, you guys made the agreement At nato to get to two percent of gdp so you could really have functional militaries All of you except I think for poland have missed it and germany missed it It was egregious and then when you look inside what they're paying for wasn't really military But what president trump if you remember this he goes? Hey, it's like a it's like a guy a rear and rents It's just not two percent per year. I want to go back to the beginning and that's when they lost it
So what what can?
What can uh, if a rick renell?
and a donald j trump two hammers Are coming at them every day and you're enough of a state department guy to know they can't play the games with you You're not some business guy that got put in as an ambassador, right, as an honorary position.
You were there for a reason, right?
If Grinnell and Trump have a hard enough time trying to get it done, and you see how they backslid under Biden, tell me what is to be done You say this is the West versus, well, the West, it's a Franco-German project.
England's kind of punched out for right now.
I mean, they're still with us in NATO, don't get me wrong, but the whole EU and NATO is essentially the core of it.
I know it's an American security guarantee, but the center beating heart of it is a Franco-German project.
Let's leave the French aside for now.
Germany, if Grinnell and Trump can't do it, how can it be done, sir?
richard grenell ▲ ● ▼
Look, I'm a guy that's thinking of the problems as doable.
I'm a glass half full type of guy and I think we have to get it done.
We have to be able to push them and say, you know, look what's happening.
I think one of the answers is to show them the consequences.
Certainly the war in Ukraine is a consequence of the Germans paying the Russians.
And building up all of the Europeans to think that they can control Russia and that Russia is not so bad.
The 2% thing is really important.
They certainly have been raising their spend and that 2% has been, you know, we're getting closer, but they're still not there.
Remember that in 2014 at Wales, the NATO meeting at Wales was called the Wales Pledge.
Everybody agreed in 10 years by 2024, We will do this slow slide into 2% and the Germans for a long time absolutely didn't even take that seriously.
What we also would hear constantly from the Germans is nobody wants the Germans to have a big bad military because of our special history as they would say.
But I would call them on the carpets because in the 1990s the Germans had the biggest military and everything was fine.
And so you gotta be able to hit back on this false choice of either a working military or nothing when it comes to the German economy.
What I try to push them to do is to say, look at France.
France has nuclear energy. France has a better military than you and yet you're the largest economy. So there's a way to embarrass them. Now I'll finish with this Steve is that if you had to pick a socialist out of everybody to run a country, Olaf Scholz, who was the finance minister under the coalition government in Germany with Chancellor Merkel, He's pretty good.
He's a money guy.
And he has already completely flipped and said we should have never been pursuing this Nord Stream 2 pipeline.
President Steinmeier, the president of Germany, which is a different type of role.
The chancellor really runs the government.
But the president, President Steinmeier, who was the president under Merkel and is still the president now, he literally said, I'm sorry, we were pursuing the wrong policy with Nord Stream 2.
It has flipped on that.
Now, the last people to realize that are the Senate Democrats, because remember that Joe Biden and the Senate Democrats Immediately dropped the Russian sanctions that Trump had in place.
I like to say that the opposite of America first is consensus with the Europeans.
steve bannon ▲ ● ▼
Amen.
This story's got to be told.
We've got to do it more methodical, because what Grinnell and Trump and Bannon warned these guys to their face about, Rick, in early 2017, after we got there, is exactly, if they had implemented what President Trump recommended, both on energy and defense, we wouldn't be at war in Ukraine.
End of discussion.
unidentified
100%.
steve bannon ▲ ● ▼
This is what's not being told.
We must tell this story.
Go ahead.
richard grenell ▲ ● ▼
It's really important to add to that.
is that the sanctions that Trump had on the pipeline were dropped by Joe Biden and the Senate Democrats and the Chancellor Merkel government.
unidentified
Yes.
richard grenell ▲ ● ▼
And that is the green light that Putin needed.
And it's the same green light that he got when Obama was in office and Joe Biden was the vice president and then we saw what happened in Crimea.
steve bannon ▲ ● ▼
Yes, this story needs to be told more methodically because this will be the basis for the Trump foreign policy upon return in 2024, if not earlier.
and Ambassador, one more thing before I get tonight.
We got to get to California.
If you look at the bloodiest century in mankind's history, start back in August, the summer of 1914, okay?
World War I, then that led to, not finished, led to World War II, then the Cold War, the Marshall Plan, Cold War, the whole, you know, the worst, most barbaric century of mankind started in the Balkans.
Under President Trump's guidance, cut, I think the first thing these guys have signed, the Kosovo-Serbia deal, which never got mentioned in the press, didn't get talked about, and to get the Serbs to sign anything, to get them to the negotiating table is almost impossible, to get them to sign anything is virtually impossible.
Talk to us about this and how important that was as one of Trump's building blocks for peace, prosperity, and security, sir.
richard grenell ▲ ● ▼
Look, the Balkan region loves Donald Trump because he paid attention to them and he realized that, you know, we could sit in a room in Brussels and we could talk about all these political issues of recognition and de-recognition and constantly do political stuff, but young people in the Balkans were leaving to go to Germany and Poland and Hungary for jobs and the economic devastation Over the last 20 years was big.
So what President Trump said to me is go in and let's try to do some economic development in the region.
Let's try to have this idea that, you know, the border needs to be dropped a little bit more so that we can have cars and shipments and deliveries over the border.
So the first thing I did for economic agreements, the first one was a flight between Pristina And in Belgrade, it's not because of COVID.
It's not working yet, but they agreed to have this first flight.
Then we did a bunch of border agreements, finishing with this very big economic agreement.
I'm going to point out one big thing of the economic agreement that the reporters in Washington never reported on because they don't know where Kosovo is on a map.
They don't know where Serbia is on a map, and so they don't want to get into the details.
But we got the Serbs and the government of Kosovo at the time to agree to diversify their energy.
Now, as you know, Steve, this is a very big deal for the Serbs.
We had to wrestle very hard to get them to agree to this, because currently they get 100% of their energy from Russia.
When the Serb government says we're going to diversify our energy, that is moving them away from Russia.
Why in God's name we didn't build on that to be able to have a better partnership with the Serbs is beyond me.
But that was a fundamental point that I still want to do.
And from the private sector, I'm trying to bring economic development to the region now.
steve bannon ▲ ● ▼
But there's no nation on earth, except maybe Belarus, closer to Russia than the Serbs, historically, too.
To get the Serbs, this is Donald Trump on the chessboard moving pieces around about the economic powerhouse that the Russian, the KGB and the military were.
This is a guy that can think it through four steps in second order, you know, impacts.
Okay, Rick, I need you to stay over just for a few minutes.
I've got to talk about California.
Because what you're doing out there is monumental.
Short commercial break.
We've got a Cortez line.
We've got a lot of economics to go through.
More bad... Surprise!
Wait for it.
More bad data today on manufacturing.
This is why we had Lou Dobbs and Navarro on the show on Friday to tee you up.
Well it got dropped and Cortez is here to explain it all to you.
Ambassador Rick Grinnell and the California Initiative, Fix California.
Steve Cortez with Economics and Geopolitics.
Got a packed show today.
Short commercial break. Be back in a moment.
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. Bannon.
steve bannon ▲ ● ▼
Okay, welcome back.
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Also, we're going to launch.
I'm going to have Philip Patrick on here.
I think it's going to be Wednesday.
But go to birchgold.com slash Bannon.
Sign up for The End of the Dollar Empire.
It's a series starting about the Federal Reserve that we're going to start I think by midweek this week and we're going to put them out every week and kind of get people up to speed on how the Fed, the easy money policies of the Fed, have put us in a terrible jam.
Steve Collinson, Stephen Collinson, as we keep saying, the best writer over at CNN, has a brutal piece just came up.
The political environment is terrible for Democrats and it may get worse.
Actually, when you read it, he's telling you it is going to get a lot worse.
We have a unique opportunity.
As I say here, our mantra is we have a unique.
This is not an election in 2008.
We have a unique opportunity if we execute.
To literally destroy the Democratic Party as a national political institution, as it's currently constructed, from school boards all the way up to the House and Senate.
Okay, it'll shatter into a kind of progressive party of the Squad, which I call like the Green Party in Germany, which may be powerful.
They may be powerful like the Greens started nowhere.
They may be powerful in 20 years, but they'll just be the Squad.
And then it's kind of the centrist neoliberal neocon of Liz Cheney on one side and Hillary Clinton on the other and all the Bill Kristols and everybody else in between.
Okay?
And Democrats.
The Wall Street crowd.
And we can do that.
And the Democrats know we can do it.
There's one exception to that.
And this is what we talked about last week and I had some internal meetings on this.
There's one massive exception to that.
And MAGA and American First have to focus on this, and this is why it's so great that Rick Grinnell, Ambassador Grinnell, is a Californian.
California.
Because on the evening of November 8th of this year, where the Democratic Party stands shattered and turning on each other internally, They'll be in places like Illinois, in places like, I mean, in their own hotbeds, right?
Forget Florida and Texas, where we're going to run the tables, where they try to turn those blue.
Or massive wins in Ohio, right?
That used to be highly contested battleground states.
In California, Governor Newsom will win by 20, and he'll be sitting on $200 million of cash, okay?
He'll have Silicon Valley, Hollywood, and all the progressive left.
And I keep saying, there's more MAGA I think supporters in California than there is in Texas or Florida, just given the size of the state.
Remember, it's 40 million people, folks.
It's the seventh biggest economy in the world.
California is a global power on its own, its own self.
Rick Grinnell, you've got a plan.
What are you doing about that?
richard grenell ▲ ● ▼
Well, I've got an initiative called Fix California.
It's 501c4, and we are pushing hard.
To do to California what Stacey Abrams did to Georgia.
If you would have told me four years ago, five years ago, that Georgia was going to elect two progressive senators and it was going to be solidly blue, I would say you're crazy.
But you gotta give it to her.
She went county by county and did a big digital play.
We are doing the same thing.
We're not on social media.
We're not trying to fight this in the media.
We're not trying to be political.
What we're trying to do is really two things.
One, we've put every county in California on notice that either you clean up your voter rolls or we will see you in court.
And we will take this fight to the courts.
Secondly, we are doing a huge digital play to find the conservatives who are sitting on the sidelines.
You know, Steve, we have been in California an ATM for the rest of the country.
Politicians come in, they grab their money, and then they leave.
We got massive Republican donors here.
And then they go and they bash California like crazy.
We need the help.
And so, I've been traveling for a year with our donors.
I know them all in California and they're responding incredibly well to the point of, we need to put our money here in California.
We need to fix California.
So we've already found 1.4 million conservatives sitting on the sidelines.
We've been very creative digitally and how we find conservatives.
And many of them are sitting on the sidelines, including, including many gun owners in California who don't want the government to have any information on them.
So they don't register to vote.
We've got to fix this problem, get people off the sidelines.
And then once we find them and put them in this pool of, you know, likely conservatives, then we go after and we get them registered.
And we've been churning this system in counties.
For finding the unregistered voters that are leaning conservative and getting them registered.
We're having great success.
I keep telling our donors this is very unsexy work.
It's going to take five years, but we are going to do it and we're making a lot of progress.
So if anybody wants to help us out, FixCalifornia.com.
Send us a little money.
unidentified
We'd certainly appreciate it.
steve bannon ▲ ● ▼
So it's FixCalifornia.com.
How do they follow you, Ambassador Grinnell, on social media?
You come in a little hot on occasion, so how do people follow you?
richard grenell ▲ ● ▼
I'm such a nice guy, but on Twitter I'm a fighter.
So Twitter is Richard Grinnell and Truth is Richard Grinnell.
steve bannon ▲ ● ▼
Ambassador Rick Grinnell, thank you very much for joining us here in the War Room.
President Trump's tip of the spear in in Europe for many, many years.
If they followed Trump and Grinnell, there wouldn't be a war.
There would not be a war.
And this is what they don't talk about Trump.
If Germany and the soccer moms of Frankfurt, if they hadn't gotten played and they got played.
If they listen to Trump, you see that shelling?
You see Maripol that looks like Dresden?
That would not have happened.
Would not have happened.
Would not have happened.
Not just Donald Trump's personality and strength of character, and Putin's not going to cross him, but the plan itself.
The plan itself.
To wean yourself off of the addiction you have to cheap Russian natural gas.
The currency, the hard currency, funds the Russian war machine.
Number two, you've got to keep nuclear.
You've got to have other options.
You can't do windmills and solar.
You can't.
A major industrial power is not going to power it.
In addition, you have to ramp up your defense.
You've got to have a real defense.
You've got to have a real ability to thwart this.
And they have to know that.
They don't.
They laugh at it.
They know you're a joke.
And right now, they're not even sending the hard weapons.
Although Nancy Pelosi has given an open-ended commitment.
What happens over the weekend is very dangerous.
This is all driven, the escalation is driven by the uniparty war machine.
You're all sitting there Saturday night at the Correspondents' Dinner laughing at each other and laughing about inflation and laughing about all this.
While Nancy Pelosi didn't go, she came, she went, and we've told people this is going to happen, she gave an open-ended commitment.
And the dialogue's changed and now they're talking about victory and degrading the Russian war machine, the Russian military.
The United States, I just put up a thing on Getter from USA Today.
It says the rest of the world is scared about this.
It's America scaring the rest of the world right now because of the escalation.
We are in very, very, very dangerous times and we're being led by people who are malevolent.
Not just incompetent, they're malevolent.
And here's the thing, as we talked about on Friday and Saturday in the show, and I got Cortez coming in right now, we're not, when we had this problem back after the Arab oil embargo, and remember, paying for guns and butter, paying for the Great Society, the biggest expenses in American history, paying for the Vietnam War, massive deficit, going off the gold standard by Nixon over a weekend.
Hey, let's go off the gold standard.
Let's do it.
Hey, why not?
Let's go for the gold standard.
Boom.
Let's do that.
The Arab oil embargo.
All of it coming together, the inflation, stagflation, running out of control.
We were a different country.
We were a manufacturing powerhouse.
And wait for it, we were a creditor nation.
Don't listen to CNBC and some Bloomberg guys sometimes, right?
Some of the people.
Don't listen to MSNBC and CNN and even Fox with the cheerleaders, the pom-poms out there.
We ain't that nation today.
We don't have the balance sheet and we don't have the manufacturing base.
We were a creditor nation.
We had an incredible balance sheet bequeathed to us from the great heroes who won the war, not just fought it as the young officers, the greatest generations enlisted.
Also, the leaders actually put it together and won.
We had a balance sheet.
We had a massive manufacturing base.
We were a titan.
Astride the Earth, with the rest of the Earth destroyed by the war.
We've lived off that.
We've dined off that.
That's what Dave Brat showed you the other day, the 50 years.
We have dined off that for 50 years.
And Steve Kortes is about to give you a reality check.
We don't have the options.
The Fed doesn't have the options.
The Treasury doesn't have the options.
We are in a jam.
It's so multidimensional now of how we've gotten ourselves in this fix.
And part of that is obviously the CCP virus.
It is going to be enormously difficult.
And wait for this, ladies and gentlemen, it's going to be painful.
There's no easy way out of this.
It's just not.
It's just not.
It's got to be that political party that is up front with the American people.
Straightforward with them lays out a plan and lets and sees how the suffering is going to be shared Proportionally with the oligarchs right in this nation.
We have oligarchs in this nation bearing the brunt of it Steve Cortez Steve, good morning.
steve cortes ▲ ● ▼
Listen, you are so right, because let's say the Federal Reserve actually does the right thing, which is raise interest rates to try to fight this absolutely out of control, pernicious inflation, which is ruining the prosperity of everyday Americans.
If the Fed decides to do the right thing, okay, that is a positive for the country, because it needs to fight inflation.
But even if it doesn't, guess what, Steve?
Financial markets are already doing that job because financial markets so fear this inflation, which is now gripping the United States.
Right now, as we speak, 10-year Treasury yield has hit a high of 2.99%.
It has almost gotten to 3%, a level it has not seen since 2018.
Now, to put that in context, for people who don't watch interest rates or bond markets closely, we just hit 2% to the upside.
In February.
And Steve, that was considered a momentous occasion in the wrong way.
And it was!
Okay, that was a shocking development that we hit 2% in February.
Here we are, just weeks later, and 10-year yield, Treasury yield, which drives all interest rates globally, from mortgages to credit card debts to auto loans to foreign government debt, 10-year yield has sprinted, has galloped from 2% to now knocking on the door of 3%.
Why?
Because we have a Fed that is asleep at the wheel that lied to the American people and tried to convince us that inflation was transitory.
And we have a Washington ruling class that while they belly laugh at their black tie luxury soirees over the weekend about how prices are rising in America, they create an economy that is creating economic misery for Americans and especially so for working-class Americans.
And when I say that ruling class, it's not just Joe Biden.
He's the primary villain, of course, of this story, but he's not the only villain.
The other villains have Rs after their names, people like Lindsey Graham and Mitch McConnell.
And that's why it is so imperative for the America First movement that we assess this situation dispassionately, where we are economically, and what the trajectory is.
And unfortunately, it's downward, meaning things are going to likely get much worse before they get better, but then also steal our resolve To elect America first economic nationalist stalwarts to the Congress so that we no longer have these GOP collaborationists who are going to assist Biden when he engages in this kind of absolute economic recklessness.
And you're so right, Steve.
The comparisons to the 1970s, they're important and they're apt and they're understandable, but the situation is actually worse now.
So if you thought the 1970s were bad economically and they were terrible, For most Americans.
We're actually in a far worse predicament now because we had advantages then that we don't have now.
steve bannon ▲ ● ▼
Steve, hang on for one second.
Hold through the break and I'll need you here for a while.
What the 70s had, you had to cut through the fog of war and see what the problem was and you had to have the political courage and it took courage.
Remember, the first two years of the Reagan administration were a debacle.
He got slaughtered in the midterms, right?
And his popularity, I think, was down to 30, 35 percent, 36 percent.
Because of the massive recession that Volcker and he decided to bite the bullet.
Here's the point.
You don't even have... Those options are not really available to you.
We don't have the balance sheet to do what Volcker did.
Right?
Because now we're not a creditor nation.
We're a massive debtor nation.
We also don't have the manufacturing base.
That's gone.
That's what we've warned about.
It's gone.
And it has not come back.
Yet.
Steve Cortez in the War Room on the other side.
unidentified
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steve cortes ▲ ● ▼
The ruling class and their Hollywood friends threw a lot of luxurious soirees all over Washington, D.C.
this weekend, and at the White House Correspondents' Dinner, Trevor Noah got a big belly laugh from the audience, including Joe Biden, when he joked about how fast prices are rising for everyday Americans.
Now, let's talk about that reality in dollar terms for American citizens who do not take private jets.
To luxurious soirees in the Washington sewer.
Rental prices over Joe Biden year over year, last April to this April, have risen almost $200 per month, over $2,000 extra per year in rent.
For those who are fortunate enough to own their homes, and this is a median price home, if they could afford an $80,000 20% down payment, Their mortgage rates just this year in 2022 have risen over $400 per month over $5,000 for the year.
By the way, none of these prices have anything to do with Putin.
This is Biden's inflation and I guarantee you it is not funny to the deplorables and to regular American citizens who are suffering.
steve bannon ▲ ● ▼
It was disgusting.
They're sitting there laughing and laughing in the people's face, in the media.
They're lapdogs in the media.
Who are the enemy of the people?
Let's be blunt about that.
Sitting there laughing and mocking the American people.
Elderly on fixed incomes.
The young just starting out.
The working poor and the working class.
And let's throw in the lower middle class in that.
It affects everybody, but it's going to eviscerate those people.
Sit there and laugh about it like it's some joke.
It's not.
It's not a joke.
They've destroyed the country, this illegitimate regime.
And have the media sitting there laughing.
And by the way, Newsmax there, Fox there, just see who's there laughing with them, trying to rub up against them and buddy up with them.
I'm not going to be a buddy.
I detest those people.
Detest.
Wouldn't be near them, okay?
And detest Biden, it's illegitimate.
I don't care what little Jamie Raskin and Shifty Schiff and these people think about it.
You're irrelevant.
You're irrelevant.
You're getting crushed this November at the ballot box.
You're going to get a democracy suppository, okay?
You're going to get crushed, and then you're irrelevant, and then we don't have to yammer around on MSNBC and nobody cares, but you're destroying this country in the process, and then laughing at people like it's funny?
You're having this big black-tie dinner, and this is like a big deal where the country's economy is literally burning down around you, and the most unfortunate in our nation are the people that have the least opportunities and the least alternatives.
The elderly on fixed incomes don't have an alternative.
What are they going to do?
You're just sitting there laughing?
Like it's funny, the guy's making jokes, and then the New York Post just comes out.
Washington Post, ABC Poll, Steve Cortez just came out.
94% of Americans think inflation's out of control and a big concern.
94% of Americans don't agree the sun's going to come up in the east tomorrow.
Right.
unidentified
94%.
steve bannon ▲ ● ▼
Biden's under 30%.
Under 30%.
Listen, when you get to 30%, remember, the parties are so partisan.
When you get below 35%, you're cutting into guys who are the hardest core of the hard core.
You've lost the rest of the nation.
Particularly independents.
Under 30% think he's totally incompetent and a danger on the economy.
A danger.
unidentified
And 2,000 people.
steve cortes ▲ ● ▼
This is why I keep saying, and my mantra is, it's the two I's.
It's inflation and immigration, and they're very much related, but inflation and immigration.
Don't major in the minors.
These are the issues that matter to everyday Americans.
They are the issues that provide the path forward to how we heal this country, how we fix the mess that Joe Biden has created, and it's where America First candidates must focus Hold on, hold on, hold on.
Steve, right before we pivot to that, go back to immigration.
as well as when general elections in the fall to again to begin the process of renewal.
It's astounding really how quickly Joe Biden has unwound what was done before him and the mess that he has put us in.
By the way as evidence of that mess let me show you a chart that just came out this.
steve bannon ▲ ● ▼
Hold on hold on hold on hold on hold on hold on Steve right before we pivot to that go back to immigration.
Just I want everybody to remember this and particularly the African-Americans Hispanic Americans to start watching this show becoming part of our coalition.
I want you specifically to remember this.
Their solution for inflation It's not to choke down the big companies and make money.
Their number one solution, and they will pull the articles again, all their thinkers out there in these op-ed pieces, their number one solution is to flood the zone with more immigration to drive down wages.
I'm sitting there going, first off, are they like just coming to us and just want to be relieved for cause as a political party?
Or no, they're not.
They're globalists.
Their number one thing, you know why?
They've taken advantage of blacks and Hispanics for so long, they treat them, they think of them like trash.
Their number one solution in this entire mess, the first thing they want to do is increase immigration across every element so that your kids that can't pay back the college loans, those guys have to have more competition for wages and jobs, okay?
That the working class Hispanics and blacks have to have more competition.
For the marginal wages they get anyway.
That's the Democratic Party's solution is more immigration, Steve Cortez.
steve cortes ▲ ● ▼
It sure is, and it's big business' quote solution.
And a lot of establishment Republicans.
Look, in a time of crashing real wages, and that's what's going on in this country, real wages meaning if your pay is going up, and I hope it is, it's not going up enough to keep pace with the way prices are leaping or rocketing higher in your life for everything you need.
I showed the rental prices, for example, in that Chalk Talk.
Real wages are crashing.
and what the establishment, what the ruling class wants to do is invite in millions upon millions more of illegal workers to compete with American citizens unjustly in the labor market. And speaking of the labor market, that's a nice segue into this chart which we put up.
And this is an important chart, I think, that came out at 10 o'clock this morning, right as your show debuted 10 o'clock Eastern Time.
We got the ISM, Institute of Supply Management.
This is widely watched manufacturing index by Wall Street.
The headline number was terrible, came in at 55 versus expectations of 58.
But that chart right there shows you the employment component.
So that is the manufacturing jobs component Of ISM.
And you can see I put a red arrow there.
You can see how much this has fallen off a cliff.
Manufacturing jobs are getting crushed.
And to give some context on that number, it's down to 50.9.
ISM is what's known as a diffusion index, meaning if it's above 50, things are growing.
If it's below 50, Contracting.
So we are right on top of contraction, which would match up with the contraction in the overall economy because, of course, GDP massively disappointed last week to the downside, minus 1.4 GDP descent.
We're seeing it all over the place.
steve bannon ▲ ● ▼
Steve, just hang on one second.
90-second break.
▲
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