July 15, 2022 - Bannon's War Room
47:56
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| Speaker | Time | Text |
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| This is what you're fighting for. | ||
| I mean, every day you're out there. | ||
| What they're doing is blowing people off. | ||
| If you continue to look the other way and shut up, then the oppressors, the authoritarians, get total control and total power. | ||
| Because this is just like in Arizona. | ||
| This is just like in Georgia. | ||
| It's another element that backs them into a corner and shows their lies and misrepresentations. | ||
| This is why this audience is going to have to get engaged. | ||
| As we've told you, this is the fight. | ||
|
unidentified
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all this nonsense, all this spin, they can't handle the truth. | |
| War Room, Battleground. Here's your host, Stephen K. Bannon. | ||
| To our children of the Fatherland, the day of glory has come. | ||
| Contre nous de la tyrannie, Les tandarms sanglants est levé, Les tandarms sanglants est levé. | ||
| Entendez-vous dans les campagnes Mugir ces féroces soldats ? | ||
| Ils viennent jusque dans nos bras Égorger nos fils, nos compagnes. | ||
| Aux armes citoyennes, Formez vos bataillons, Marchons, marchons, Que ça impure A vos pensions. | ||
| Aux armes citoyennes, Formez vos bataillons, Marchons, marchons, Que ça impure A vos pensions. | ||
| Sous-titres par Jean-Marc Jancovici foreign oh | ||
| foreign | ||
| you Oh Converse avec tes défenseurs! | ||
| Sous nos drapons, que la victoire accoura tes mains! | ||
| J'attends que tes ennemis expirent! | ||
| Vois ton triomphe et notre gloire! | ||
| Oh, I'm a city warrior. | ||
| For me, it's a battle. | ||
| March on, march on. | ||
| Get the victory. | ||
| Oh, I'm a city warrior. | ||
| Oh, I'm a city warrior. | ||
| For me, it's a battle. | ||
| March on, march on. | ||
| Get the victory. | ||
| Oh, revolution! | ||
| Thank you for watching! | ||
| Breaking news just moments ago. | ||
| Italy's Prime Minister Mario Draghi said he will resign after the Five Star Movement boycotted a confidence vote. | ||
| Joining us now is Bloomberg's Milan Bureau Chief Tommaso Ibarra. | ||
| Thank you, as always, for joining us, Tommaso. | ||
| A developing situation here. | ||
| Let's put this into some context. | ||
| This, of course, comes after the Five Star Movement led by Giuseppe Conte boycotted that confidence vote. | ||
| Now Mario Draghi, the former ECB leader, is set to resign, I believe, tonight. | ||
| Walk us through the options here for the Italian government. | ||
| Buonasera from Milan. | ||
| So it looks like Italy could be soon back into its famous political instability. | ||
| Mario Draghi is doing what he threatened to do if the Freistaat had boycotted a confidence vote on his government. | ||
| He said that he would resign and he will resign tonight in the hands of President Mattarella. | ||
| He just sent a statement at the end of a cabinet meeting saying that the conditions are not there anymore. | ||
| to stay and that his majority doesn't exist anymore. | ||
| He will meet the president later tonight. | ||
| What could happen is that President Mattarella could try and see if Mario Draghi could form a new government or could stay as a caretaker prime minister for the time being. | ||
| We are hearing that Mattarella would then go and speak in Parliament next week. | ||
| It's clearly difficult to predict which will be the outcome, but the fact that Mario Draghi is going to resign is now a fact. | ||
| Okay, welcome to the War Room. | ||
| If you watched us this morning, we called this at 11 o'clock. | ||
| We said the Italian government was going to fall when the whole world said they're going to try to work it out. | ||
| This is what's happening about global capital markets, about global finances, and it's tied to, this is directly tied to the war in Ukraine. We've asked Joe Ken is running for Congress in Washington state to join us. We've got Dave Walsh. We got to get down to the bottom of the CP, the PPI today, 11.3% driven much by energy. But I want to go to our head of international in Rome, Ben Harnwell. Ben, we got off the show today you went and did your live getter which I got tremendous feedback about. | ||
| We've also reached out to the policy sonar guy who's one of the smartest guys in Italy to join us. I don't think he's going to be able to do it tonight but we'll try to get him on tomorrow. | ||
| Walk me through what happened, how did this essentially government, Draghi is the technician, the technocrat put into that government and listen, think about it for a second. I want everybody to put this in perspective, okay? Because it's going to have a big impact on geopolitics. | ||
| It's going to have a big impact on the United States of America. | ||
| Since June, we've had Macron, and that's what we played. | ||
| Today is obviously Bastille Day in honor of the French Revolution, revolutionary America. | ||
| Remember, they were our partners in the revolutionary generation. | ||
| Then we played the big win they had against Macron. | ||
| Since, I think, the election in, not the national election, but the national parliamentary election was essentially in the first or second week of June. | ||
| So, in the last four weeks, we've seen the fall of essentially the Macron government, because now he's locked up. | ||
| It's like Biden losing a massive landslide when Joe Kent and his colleagues take over the House in November, or actually take power in January. | ||
| Then we had Boris Johnson, who's the biggest... Macron and Johnson are the two biggest cheerleaders of this whole thing, this whole mess, besides the Biden regime. | ||
| The Biden regime are driving this, but they're the biggest cheerleaders. | ||
| They're essentially gone. | ||
| Boris Johnson is definitely out. | ||
| Now, he's out for lying on other things, but people also had a belly full of him on this, although I do believe that the Tories are all in, like the establishment Republicans. | ||
| And now Draghi, the technocrat, in Italy, who I think is the biggest proponent of sticking with the EU. | ||
| He's now resigned because of the breakdown with the populace. | ||
| Ben, put it in perspective. | ||
| Three governments have essentially fallen in Europe in the last five weeks. | ||
| Ben Hornwell. | ||
| Well, of course, Steve, you're absolutely right. | ||
| If I might just sneak in one slight amendment to what you just said. | ||
| There was a government which was more all-in With regards to Ukraine than Boris Johnson or Emmanuel Macron, who were moderates in comparison. | ||
| And that is the government here in Italy. | ||
| Now, right behind me, I've come here for this, right behind me, this is the official residence of the President of the Italian Republic, Sergio Mattarella, where the Prime Minister, Mario Draghi, came twice today. | ||
| He came once for an hour emergency session with him at around lunchtime, cancelling his cabinet meeting. | ||
| in order to be able to do. | ||
| Then he went back to the Parliament for his Cabinet meeting, and then he came back here just a short while ago, an hour or so ago, for a second meeting with the President, in which he did offer to resign. | ||
| However, Steve, I have to make a slight hesitation with regards to what they said on Bloomberg, the clip that we had in the cold open, because the developments are happening so fast. | ||
| Mattarella, the President, of the Italian Republic refused to accept Mario Draghi, the Prime Minister's resignation. | ||
| Now, there are a number of motives for this, but one of them is that nobody in the establishment wants to go to fresh elections. | ||
| They're going to try and hold this out to the last possible moment, which is in spring next year, when the next general elections must be held. | ||
| And the purpose of this, Stephen, you'll remember this because you were actually a part of this, this parliament actually had an anti-establishment majority. | ||
| It was a tidal wave that went right through Italy and there were two principal parts of that anti-establishment movement. | ||
| They were from the Five Star Movement, and there was the League. | ||
| And you, Steve, you're too modest to say this, so I'll say it myself. | ||
| Along with all of the Italian media, I add, you were instrumental in bringing those two parts together, originally to form a government. | ||
| And I remember saying, Steve, this is never going to happen. | ||
| You were right. | ||
| I was wrong. | ||
| Who was the Prime Minister when that government, that anti-establishment government, which lasted only for a year, who was the Prime Minister on that occasion? | ||
| It was Giuseppe Conte. | ||
| Giuseppe Conte is the guy who refused to back the government. | ||
| His party is still in the coalition. | ||
| They haven't formally left the coalition, but they did refuse to back, earlier this morning, the government in a confidence vote. | ||
| They abstained. | ||
| The government won the vote easily. | ||
| And he is the person, Giuseppe Conte, the guy that you are responsible for making Prime Minister four or so years ago. | ||
| This is the reason why Mario Draghi has now said, that's it, I resign. | ||
| Now, as I say, I actually don't think he's going to resign. | ||
| Before I pass back to you, Steve, I do want to say this is absolutely fundamental. | ||
| This is the straight line between these events. | ||
| And not only in Europe, but also in Sri Lanka as well, lest we forget. | ||
| In addition to the growing momentum that we've seen already in Panama and in Germany, this is a reaction to the colossal cost of living hike right around the world, which is a consequence of two things. | ||
| Huge price inflation in food and huge price inflation in energy. | ||
| This is the double barrel shotgun that we can see echoing around, round after round, across different governments right across the world. | ||
| Let us remember, right Stephen, I'll hand over to you now, let us remember what Giuseppe Conte said yesterday. | ||
| He questioned whether military aid to Ukraine was simply perpetuating the war, which is something that we've been saying for five months on The War Room. | ||
| And he also said, and I said this earlier on in the afternoon show, the morning show, but I'll repeat it now. | ||
| He said yesterday, I have a strong fear that September will be a time when families will face the choice of paying their electricity bill or buying food. | ||
| This is a direct consequence of the decisions that the government have freely made I'm pursuing its policy with regards to Russia. | ||
| And the reason, the best reason I can detect, Steve, that Mario Draghi has resigned, when he still has, he has not lost a confidence vote, there's another one that's been scheduled for next Wednesday, the best reason I can suggest that he does not want Giuseppe Conte to leave the coalition is because he doesn't want to be in power this autumn when Let's just put it like this. | ||
| He can see that the fan has incoming, and he doesn't want to be around when shit meets fan, basically. | ||
| So the whole thing now is theater, and let's see how it develops. | ||
| It is performative, but Ben, fantastic report, beautiful background. | ||
| Thank you for hustling over there and doing this. | ||
| And we're bringing Joe Kent. | ||
| I want you to stay through. | ||
| We've got Dave Walsh to talk about energy. | ||
| Ben, one thing is that Since the economic reality, remember Five Star and The League, these are actually populist parties. | ||
| Conte's kind of the guy that supposedly pulls it together, although he's no populist. | ||
| Aren't they petrified? | ||
| With all this, with everything that's going on and running around having meetings, the last thing they want to do is go out to Italy right now and have an election and have the Italian people go, what are you talking about? | ||
| What are we going to do? | ||
| What, in Ukraine and get Karloff and Netrograss? | ||
| Isn't the fact that they'll do anything, they'll slap anything together, they'll put any band-aid on it, is they would like to avoid the people going to the ballot box, just like the Democrats want to avoid November 8th. | ||
| They don't want to have people vote. | ||
| They don't want to see the Joe Kent's winning in landslides and coming to the Washington Sea. | ||
| So isn't the biggest thing we have here is once again the establishment having the people having rejected Macron's policies on a national basis at the at the at the in the assembly and you just saw the defeat of Macron's COVID passport extension. | ||
| At the end of the French National Anthem, and you've got all this turmoil in Britain. | ||
| Aren't they petrified about going out and having a vote today? | ||
| Steve, I cannot say in the short time I have how terrified and how petrified they are. | ||
| This is the reason why it's all performative, because of all the parties that have fallen since the election that brought them in, Cinque Stelle, which was supposedly an anti-establishment party, has fallen in the popular standing the most. | ||
| Now that party is going to be wiped out. | ||
| It's just going to disappear at the next elections. | ||
| So they're never going, they will always be, they will always provide the arithmetic to keep this majority going until the last possible moment. | ||
| Why? | ||
| Because fundamentally they are terrified of facing the people and responding at the ballot box for all the incompetence that they have brought down on the Italian people. | ||
| And you know, the same thing with, as you're saying, the same thing with the Democrats in the United States. | ||
| The Democrats are absolutely imploding at the prospect of November. | ||
| Terrified. | ||
| Okay. | ||
| Ben, just please stay there. | ||
| I'm gonna bring in Joe Kent. | ||
| By the way, Nancy Pelosi, I think she's just got back from her holiday over in Italy. | ||
| She's trash-talking today. | ||
| She was trash-talking President Trump about his announcing. | ||
| She's also trash-talking. | ||
| She says she threw down hard that under no circumstances would they lose the House of Representatives. | ||
| They were all fired up. | ||
| Let's bring in Joe Kent. | ||
| Joe, you've actually put some stuff up on And I think if we can pull it, you've actually put some stuff up before about the Ukraine war. | ||
| You're a combat veteran. | ||
| I think you've got, what, 10, 11, 12 tours in combat. | ||
| You know war better than anybody. | ||
| Nobody can question your patriotism, your courage, your valor. | ||
| Yet you've come out and you've been very, very skeptical. | ||
| of this war in Ukraine. | ||
| About these latest developments over the last couple of days, particularly the fact that I've got my Financial Times right next to me here, they now know, as Ben's reported, that most of the military aid going into the Ukraine has now been found by essentially the inspector general or the FBI of the EU, that most of it's funneling back out of the Ukraine by the oligarchs and the criminal syndicates and being sold to the mafia and criminal syndicates in Western Europe and jeopardizing the safety of the people. | ||
| Joe Kent, your assessment of all of this, sir? | ||
| This has been a disaster, really, from the get-go. | ||
| And those of us who lived through the global war on terror and watched all the lies told in Afghanistan and then in Iraq, we saw this coming. | ||
| We knew what the stakes were. | ||
| And also, from the get-go, no one has been working to de-escalate this situation. | ||
| The people who are benefiting from this conflict have been the most vocal cheerleaders, and that's the Uniparty military-industrial complex. | ||
| establishment here in Washington, D.C. and really throughout the country. | ||
| My opponent, Jamie Herrera-Butler, she voted for all of the different aid packages, $55 billion going to Ukraine when we have a crisis on our southern border where we can't get enough formula to feed our infants. | ||
| And look, we've been through these proxy wars for the last 20 plus years. | ||
| When we start just passing out willy-nilly all kinds of military aid in Ukraine, it's conventional military systems. | ||
| This isn't AK-47s and a couple RPGs going in the backs of Hiluxes across the Syrian border. | ||
| This is real military hardware going to the border with Russia who has nuclear weapons. | ||
| And so, and there's no accountability. | ||
| The only thing that Rand Paul asked for when we lost the battle on the Ukraine aid was that the U.S. inspector general could help account for some of this weaponry. | ||
| And now here we are probably about a month later and we come to find out, big surprise, that we have no idea where this weaponry is going. | ||
| Meanwhile, we continue to escalate and blindly sleepwalk closer to a war with Russia because Biden and many of his stooges and even Republicans are saying that we are at war. | ||
| Well, there was never a war powers vote whatsoever on this. | ||
| And the American people, I think, uh, a lot, add this to a long list of things that they are just fed up with. | ||
| I hear it all the time. | ||
| People throughout the district, they have no idea what we're doing playing in the bloodlands of Europe while we can't, you know, feed our babies enough formula. | ||
| And while we're being absolutely crushed at the gas pump, the American people are seeing how all of these things are intertwined. | ||
| Joe, your district's one of the things, one of the districts I call like the backbone of America. | ||
| It's the hard-working salt of the earth. | ||
| Give it to us again, because I want all of America, and our show goes global. | ||
| When you go out to these hard-working folks who are the most decent, giving, it's not about giving, it's not about compassion, it's not about being there to help people. | ||
| What is their sense when they hear all this stuff about the Ukraine and everything that's happening on that border and all the geopolitics that's going on, and they see like these governments start to fall, you see what's happening in Sri Lanka, how do they put it into perspective? | ||
| When you go around knocking on doors, going to the coffee shops, going to the cafes, shaking hands, what are people telling you? | ||
| People are connecting dots, I think, in a way that previously your average hardworking American just wasn't looking at geopolitics. | ||
| I mean, between the COVID pandemic, the supply chain issues that we've had, the American people are very, very much awake right now. | ||
| And so when our ruling class tells us that, hey, we don't have time to deal with any of your problems, we don't have time to deal with what's happening, At the gas pump and Americans remember 18 months ago that we were energy independent and they could afford to put gas in the tank. | ||
| They could afford to put groceries on the table. | ||
| But then they're told that, hey, we can't address any of that because of, you know, Vladimir Putin. | ||
| And if you dare question us, you're somehow un-American. | ||
| Look, the American people have seen this playbook before and they know exactly where it got us. | ||
| And they've also seen throughout the entire world, they're seeing the unraveling of Globalization they're seeing the unraveling of all these different governments and they're seeing really for the first time in a very frightening way how fragile we are here at home and they want to put a stop to it. | ||
| They want to stop the bleeding yet. | ||
| Our ruling class tells us we need to continue to send more money. | ||
| Over for these adventures in Eastern Europe, while we're not even addressing the issues of getting us back to being energy independent. | ||
| So it's right up in everyone's face right now, how intertwined all of these issues are. | ||
| They want to see real solutions. | ||
| This is why I advocate heavily for day one. | ||
| When we get in power in January, we have to very plainly tell the Biden administration that we will not sign off on the federal budget until you reverse all of your day one energy policies, reopen our pipelines, Start to give the American people some real relief at the gas pump, or we simply will shut down the federal government. | ||
| You're 100% for, hey, no appropriations, no money goes, no more CRs, no more kicking the can down the road. | ||
| We have to have, we have to have a confrontation and we have to start with energy because basis. | ||
| When folks out there today, you know, yesterday was CPI 9.1%. | ||
| Today was a blockbuster number. | ||
| Now they're saying all the business channels say, well, it's all just energy and food. | ||
| It's 11.3% on the, on the PPI. | ||
| Which is kind of at the railhead higher. | ||
| That's going to roll back through the consumer price. | ||
| What are folks telling you out there about one, inflation, two, the economy, and three, economic and financial leadership coming from Washington and from Wall Street? | ||
| I think what they're saying is we can't survive like this. | ||
| And so right now, if you work, you know, at the minimum wage level or even slightly comfortably above, you are absolutely being devastated right now. | ||
| I mean, I have people that show up to my town halls and the first thing I say is I say, I really appreciate you coming out here, not just, you know, for participating in this political process, but also because it probably costs you 10 to $15 that you don't have to spare to drive out here. | ||
| We live in a very rural community. | ||
| People drive for a living. | ||
| Look, people are just being crushed, and they say that, hey, we can't go on like this anymore, and they understand that all of this is self-inflicted. | ||
| Everybody remembers just 18, 19 months ago when we had an economy that was functioning. | ||
| Yeah, we had a hard time during COVID. | ||
| The economy took a downturn, but people also remember 2019. | ||
| Before COVID struck, the economy was absolutely booming, absolutely on fire, and so they see the direct reflection of these policies. | ||
| And I have people all the time that come up to me and say, hey, I've never paid attention to politics before. | ||
| You know, I just found it distasteful. | ||
| I didn't have time for it. | ||
| But now I can see that these things directly affect me. | ||
| And if we don't see real changes, if we just hear the same old rhetoric from Republicans and from Democrats are just talking heads in Washington, D.C. | ||
| That we're not going to engage with the process. | ||
| And this is why I think the America First movement and my campaign, we've been able to get so much traction because we're out there, we're saying, hey, we're going to go and fight. | ||
| We're not going to kick the can down the road anymore. | ||
| We're going to have these hard discussions. | ||
| We're going to first admit, like adults, that all the easy, just all the easy decisions were a decade ago or maybe even more, that we're going to have to really look at our budget. | ||
| We're going to have to become energy independent and we're going to have to fight some hard fights with the Republican Party and against this failed, corrupt establishment. | ||
| Joe, tell us, you got kind of the primary's coming up, but it's kind of a funky structure. | ||
| Walk people through, where do you stand? | ||
| Where do you stand vis-a-vis your competitor? | ||
| When's this going to be? | ||
| And how can people get to know you and find out more about the campaign? | ||
| Because Washington's a little different than other places. | ||
|
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It is. | |
| Unfortunately, in Washington state, we have what's called the jungle primary. | ||
| So basically just talk to you. | ||
| We don't register to vote by political parties. | ||
| So everybody, regardless of party, goes in the same mixer bowl. | ||
| In the primary, the top two vote getters, regardless of party, regardless of percentage, move on and face each other in November. | ||
| So right now I'm leading in all the independent polls. | ||
| I'm up by about seven points against the incumbent, Jamie Herrera-Butler, the impeachment voter, RINO. | ||
| She is in a dead tie for second, which would have her move on to the general with the Democrat that's in the race, a very radical Democrat, 100% supporter of abortion and gun grabbing. | ||
| As long as with all of the other horrible Biden policies. | ||
| So right now, I think regardless of who we end up going up against, we're going to be successful in the primary because the momentum that we've built. | ||
| And then we're also going to be successful in the general because again, the American people have had enough of the Democrats and the establishment. | ||
| If people want to support the campaign, we're in the final push. | ||
| We're in the barnstorming phase. | ||
| We need absolutely every single dollar. | ||
| My opponent, my establishment opponent, she is being supported by Kevin McCarthy, by the establishment, and they've also thrown a couple different so-called America First Republicans into the race to dilute the vote, who are also getting money from Rhino Pax as well, and then the far left is at play. | ||
| So if people want to support us, it's greatly appreciated. | ||
| JoeKent4Congress.com is the website. | ||
| Joe Kent, fight on, American hero and patriot. | ||
| The War Room has a lot of time for you. | ||
| Thanks to the world of you. | ||
| Joe Kent, thank you very much. | ||
| Appreciate you coming on. | ||
| Thank you very much, Steve. | ||
| I really appreciate it. | ||
| Okay, Joe Kenton, a fight out there, and you see how they're inextricably linked. | ||
| What's happening in eastern Washington? | ||
| What's happening in Rome? | ||
| We're going to take a short break. | ||
| We come back, we're going to go live to Rome again to the head of our International Bureau, Ben Harnwell, who has more better called shots than anybody. | ||
| We're also going to, we've got Dave Walsh coming up. | ||
| Energy is at the core until they get their hands around energy. | ||
| And here's what's happening. | ||
| It's not Putin's price. | ||
| These are the radical, radical, radical policies of the Democratic Party. | ||
| It's not just Biden. | ||
| This is Greta Thunberg's Green New Deal, and it's being foisted upon you. | ||
| You're going to have mass starvation, famine, economic collapse all over the place until we start looking at what the problem is. | ||
| Ben Harnwell in Rome. | ||
| Dave Walsh here in America will join us after a short commercial break. | ||
|
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War Room Battleground with Stephen K. Bannon. | |
| you Bye! | ||
| Welcome back. | ||
| I want to go to our own Ben Harnwell. | ||
| Ben, you know, you've, and I'm really proud of what you've been doing there. | ||
| And what will I say? | ||
| Limited resources. | ||
| You have had more called shots than the FT, the Times of London. | ||
| Breaking news also, and we'll get more into tomorrow. | ||
| Try to get Michael Yan on tomorrow morning. | ||
| The farmer revolt in Netherlands is now spread to Germany. | ||
| It's a little bit spread to Italy, but it's definitely spreading all over. | ||
| And this gets back to, Walsh is going to tell us, this gets back to this crazed energy program. | ||
| At the core of this, you have the Ukraine war and the resources going in there, but this gets back to energy. | ||
| Part of this, as you've seen over the last couple of years, is that Greta Thunberg, and I use her as an example, a teenager, but you had other crazies too in policy positions, have backed energy proposals and energy plans that didn't make sense on their own. | ||
| And now that you've got, and we're so dependent, Western Europe's so dependent upon natural gas, not so much oil, but natural gas from Russia, that it stuns me that they never thought through this issue of getting involved in a land war in eastern Ukraine, that the Russians are just going to sit there and not use to cut this off. | ||
| Give me the perspective of all of Europe, and then specifically Italy. | ||
| The Italian government, I keep saying, is in the process of falling. | ||
| They're going to try to strap something together because they don't want to face the voters. | ||
| This is just like the Biden and Nancy Pelosi do not want to face the wrath of the voters in November. | ||
| They would do anything. | ||
| They'd come up with any pandemic scare, any fear porn, not to have people go in the polls because they realize in the righteous indignation of the American people, they've had a belly full of this. | ||
| Ben Harnwell. | ||
| I mean I think the underlying thing here is that the people who govern our nations govern these nations in their own interests and not in the interests of the people. | ||
| Now there are various motives for this and I like to use the term, I like to call our leaders sociopathic because they are incapable structurally of accepting any responsibility for the consequences of the decisions they make. | ||
| And you know what, Steve? | ||
| If we have the time, perhaps we could dig into this a little more, perhaps on Saturday, and just sort of really go down and have a look at why these people act in the way that they do. | ||
| Because I'm sure that it's appealing about the levels, the layers. | ||
| We can see just the craziness of these people. | ||
| And I say crazy. | ||
| Why? | ||
| Because it would be the easiest thing in the world, one would have thought, to run a country in the interests of the people so that the gains, the economic gains, the growth of the economy can be felt by ordinary people. | ||
| But that's not what's happening. | ||
| What's happening is that the ordinary working guy is just getting shafted day by day, week by week, month by month, and you have these super elites You know, they're not capitalists. | ||
| They're not getting rich because they're bringing something to the market that people want to buy. | ||
| They're getting rich. | ||
| They're making trillions because they have gained the system with the willing aid of our elites. | ||
| That is to say, look at the situation with Ukraine. | ||
| How many hundreds of billions now have changed hands? | ||
| And people in America are starving. | ||
| And yet, you know, I don't want to sort of dump on the military The US military industrial complex. | ||
| But Raytheon shares have never been higher, right? | ||
| It's a transfer of wealth from the ordinary working guy... It's ridiculous. | ||
| It's ridiculous. | ||
| It's ridiculous. | ||
| What you're saying is absolutely correct. | ||
| By the way, on Saturday, what Ben's talking about, Ben is going to co-host with me. | ||
| We're going to have Jerome Revere from the European Parliament. | ||
| The Economist came out. | ||
| How to win the long war? | ||
| Well, we've got a different analysis than The Economist, which is the news magazine of the party of Davos. | ||
| We have a very different take on this. | ||
| Ben Harnwell is going to go. | ||
| Ben Harnwell has worked in the European Parliament. | ||
| Jerome Revere is a member and a senior member of the European Parliament. | ||
| He'll be in the studio to go through it. | ||
| Ben, just hang on there one second. | ||
| I want to bring in Dave Walsh. | ||
| Ben Harden was live outside the presidential residence in Rome as that government's about to topple. | ||
| All right. | ||
| It effectively has toppled. | ||
| They're just trying to put a band-aid on it because they don't want to have to call an election now because they'll all be blown out. | ||
| People also forget that Draghi, or if you didn't know, Draghi is just a technocrat. | ||
| He's just kind of put in from the ECB. | ||
| He's kind of put in from Brussels. | ||
| He's not really a politician. | ||
| He's just a technocrat that's supposed to make the economy better. | ||
| Let's bring in Dave Walsh. | ||
| Dave, Earlier today, after our broadcast this morning, Ben Harnon went out and he connected dots with saying, hey, what's happening in Panama, what's happening in Ecuador, what's happening in Sri Lanka is connected to the farmers in the Netherlands and connected to the fall of this government in Italy. | ||
| At the end of the day, it all comes back to we have a global energy crisis. | ||
| And nobody's addressing. | ||
| In fact, on the morning show today, I think it was Jason Trent, who's one of the top Wall Street guys. | ||
| We're talking about 300 trillion dollars of debt globally. | ||
| And he was making the point. | ||
| He's saying, hey, there's one point five billion people in the world today, right now that do not get electricity on a regular basis. | ||
| And he said, what are we going to tell them? | ||
| And I said, Jason, no, no offense. | ||
| I think it's what they're going to tell us, because this whole system now is creaking and about to collapse. | ||
| Dave Walsh. | ||
| Yeah, we used a chart a couple of weeks ago, Steve, that showed about two and a half billion people in the world consume electricity at a U.S. | ||
| rate in 1920. | ||
| And about a billion people in the world consume electricity at a U.S. | ||
| rate in 1910. | ||
| And that's largely in the third world. | ||
| Today, we've had some reports on the industrial issues now developing in the U.S. | ||
| itself. | ||
| The electricity supply in the U.S. | ||
| is 62% used by industry and commercial operations. | ||
| Only about a third is residential. | ||
| The industrial part is half manufacturing. | ||
| The importance of it for competitive manufacturing is huge. | ||
| Aluminum semiconductors, petrochemical operations, automotive plants, steel plants, cement plants, data centers, and server centers. | ||
| Aluminum smelting, I've mentioned, that's a salient example today. | ||
| The whole Tennessee Valley Authority, when it was originated with nuclear Coal-fired plants, about 40% of it, hydro, was all about creating an industrial base in the central part of the country, in Appalachia. | ||
| The aluminum industry arrived because of the low-cost, abundant, and highly available electricity, followed by the steel industry, followed by the auto industry. | ||
| First GM, Chrysler, then Japan, Inc., with Nissan, Toyota, Suzuki, and others. | ||
| Tremendous benefit to having cheap and abundant electricity. | ||
| What we're seeing over the last 15 years is the gutting of what we call baseload continuous duty electrical supply in the country. | ||
| Solar and wind that operate respectively 19% and 36% of the time are non-dispatchable, non-reliable power sources. | ||
| As we grow them and grow them, we're reducing our reserve margins. | ||
| Reserve margins are the power needed In 20% more than midday or mid-evening when the lights are out, you do a calculus and you determine what's your max load going to be in the day, and you want to be about 25% more than that. | ||
| The country has had about 26-27% in reserve margins. | ||
| That's declining radically because of the adoption of solar and wind. | ||
| Texas is down to 8.5% reserve margin. | ||
| Texas has now had five occasions, we're in the fifth right now, of supply curtailment demands by ERCOT communicating to citizens, shut off your appliances in midday, start them back up at 8 p.m., keep the lights off until 8 p.m., all kinds of measures being announced for the fourth time this year by ERCOT because within Texas, With 27% wind absorption, there isn't enough baseload continuous duty power. | ||
| This stuff needs to run all of the time. | ||
| It can't run a third of the time solar. | ||
| It can't run 19% of the time. | ||
| You basically take a developed economy, industrial economy like ours, and you put it back into the third world, when you don't have continuous reliable electricity, because you can't run factories. | ||
| By the way, you can't run data centers. | ||
| You can't run server centers. | ||
| They need power all of the time. | ||
| So this is a huge issue. | ||
| The administration, we've misspoken. | ||
| It has no energy strategy. | ||
| It has an environmental policy. | ||
| It has no energy policy. | ||
| It is entirely driven based on environmental extremism. | ||
| It's all about more wind and solar by 2030. | ||
| If we adopt the consensus forecast of wind and solar coming up by 2030, Reserve margins in the country will shrivel from presently about 25% to about 15%. | ||
| What that's going to mean is a far, far higher, about a three times higher episodic rate of brownouts and blackouts due to power shortages because of over-adoption. | ||
|
unidentified
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Hold on, hold on, hold on, hold on, hold on, hold on, hold on. | |
| Here in America, the United States, we're not talking about Europe, you're saying blackouts and brownouts here in America on a daily basis or a regular basis. | ||
| We've got them already. | ||
| We're having them already in Kaiso, which is the California zone of NERC. | ||
| In ERCOT, the entire Texas zone, we've had four emergency periods of demand curtailment now this year, and now beginning in MISO, which is up in eastern Iowa, Illinois, Missouri, the central industrial part of the U.S., reserve margins have become so low that we're now forecasting brownouts and service curtailments up there because of the shuttering of 25,000 megawatts of coal plants. | ||
| Over the last 10 years. | ||
| Now, there is some good news with the act of the Supreme Court two weeks ago. | ||
| We've got in the Southeast U.S., I'm hearing, I won't mention the utilities doing this, but three or four major previously shuttered coal plants being brought back online and put in service. | ||
| And why is that done? | ||
| The coal pile is a 75-day thing. | ||
| You can visualize the fuel. | ||
| You're not going to have an interruption with that. | ||
| You know you've got it, you know you can burn it, and you know you've got baseload energy coming off of that. | ||
| Even with gas, you don't have that certainty. | ||
| It's coming through a pipeline, and as prices escalate, you have shortages, you've got issues with Worrying about supply curtailments of that, possibly. | ||
| We haven't had them, thank God. | ||
| But with coal, you've got a stable resource and a very clean one. | ||
| 80% of the discharge emissions with coal between 1970 and 2000 were cleaned up. | ||
| Sulfur, nitrogen, carbon monoxide, lead, particulates, and volatile organic compounds, 80% were removed by enormous investment, by Combustion Engineering, by GE, by Westinghouse, in scrubbers, FGD systems, all of the stuff to make supercritical clean coal was done, implemented, and now we're throwing that out the window. | ||
| You need that base load, continuous duty energy supply to have a competitive industrial economy. | ||
| China has 67% of its energy is coal and gas, coal being about 62%, gas being about 5% thermal power in China. | ||
| There's a reason for that. | ||
| They want to be industrially competitive. | ||
| Let me hang on. | ||
| Before I go back to Ben, I've got to lay this out, and I'm going to have Ben comment on it, too. | ||
| What you talked about, the 2.4 billion, the 1 billion, 1 billion people in the world had the same electricity as America in 1910. | ||
| 2.4 billion, I think you said, in 1930. | ||
| I want everybody to understand that. | ||
| 2.4 billion people in the world. | ||
| 1920, excuse me, before my beloved dad who just passed away, the year before he was born, right, 100 years ago. | ||
| 1.5 billion people, 10% of the day, don't have regular electricity at all. | ||
| I'm sure it's some subset of that. | ||
| In Italy, I'll start in Germany. | ||
| Germany today, a senior minister in the government says, we're going to have to come back with the budget, we're going to have to intervene to cap prices and have the government pay for it, or we're going to have social unrest, natural gas. | ||
| As Ben just said, yesterday, Conte, the president of the government, said, you know, I think we're going to have a problem here, because coming in September, people are going to have to make a choice between food and energy. | ||
| These are first world—this is—Italy's the Renaissance. | ||
| Italy's the Roman Empire. | ||
| Italy's the Vatican, the great art of the world. | ||
| The German is Mozart and Goethe and all of it. | ||
| These are first world, not just first world, advanced first world countries. | ||
| And in 2022, this is what we're talking about. | ||
| How did we get here? | ||
| This is not simply Joe Biden. | ||
| This is a radical. | ||
| And I'm telling you what these people are. | ||
| They are religious zealots. | ||
| This has nothing to do with rationality. | ||
| You know who the most rational people in this entire drama are? | ||
| They're the folks in the third world that's going to start marching north, okay? | ||
| They're the rational actors. | ||
| They're saying, you're screwing me with this radical, the nitrogen, you know, there can't be any nitrogen in the fertilizer. | ||
| You're cutting that off. | ||
| That's what, look in Sri Lanka, right? | ||
| Look at what's happening in Albania, in these places. | ||
| Look what's happening to the farmers in the Netherlands. | ||
| This is a radical agenda that's not backed by science. | ||
| It's not backed by data. | ||
| This is a—they're theocrats. | ||
| This is a new form of paganism that is a theology. | ||
| And this theology is high church, right? | ||
| And Greta Thunberg is one of the acolytes. | ||
| And we've turned the world over to that. | ||
| So when you watch news every night, all this talk about the debt and equity and market— It's all irrelevant. | ||
| If you don't get to the heart of this, the world system as we know it, as Dave Walsh said on here two months ago, you're seeing the collapse of a complex system. | ||
| And it's so obvious what the problem is. | ||
| Dave Walsh, give me two minutes. | ||
| I want to go back to Ben Harnwell. | ||
| Well, if you look at Japan at the time of the tsunami, Prime Minister Abe, we had shut down the nuclear reactors, most of them, to study them, examine what the issues were, do root cause analysis, slowly reopen them. | ||
| In that time period, guess what he did? | ||
| They built 13 gigawatts worth of coal plants. | ||
| They knew they'd come out of that with about 20% of the nuclear reactors closed permanently, so they built 13 gigawatts of coal. | ||
| Why did they do that? | ||
| They compete with China. | ||
| They understand and recognize that, industrially, with cars, with steel, foundry, machine tools. | ||
| making semiconductors. They compete with China. They compete with Taiwan. They need to have low cost electricity and an abundant, continuous supply of it. | ||
| They didn't resort to massive quantities of wind and solar to support their industrial machine and their employment base and their manufacturing base. It had to be continuous base load, cost effective power. | ||
| It was coal. Now they've restarted 80% of the reactors, which is a very good thing for Japan. | ||
| They've been through the testing, through the studies, through the fact that the tsunami can affect most of them, even if one returns from a geologic issue. Germany, on the other hand, shudders there. It's just a colossal disaster. We've worried about the Taiwan economy. | ||
| The German economy is the fifth largest in the world. | ||
| So this meltdown there is a big disaster for all of us. | ||
| The energy policy based on an environmental extremism position, not an energy policy, but basically environmental extremism, has gripped Germany. | ||
| Look at the results we've now got. | ||
| We've got to look praiseworthy to the U.S. | ||
| utilities reopening coal plants. | ||
| We desperately need about a 25 to 30 percent mix of coal inside our energy base. | ||
| That's 100 percent the Trump judges. | ||
| This is the administrative state. | ||
| This is Trump judges. | ||
| We'd be so jammed if Donald Trump hadn't won in 16 of what he did. | ||
| But his legacy, his current legacy in his second term, which is happening right now, are these judges. | ||
| That's the only reason we've got that going. | ||
| Dave, hang on for one second. | ||
| We'll go back to Italy. | ||
| Ben, Germany on the ropes. | ||
| Italy on the ropes. | ||
| France has already had a revolt. | ||
| Britain's changing governments. | ||
| Do people in Italy right now understand that the core problem here is they've turned over the core central energy policy of their nation to a group of religious theocrats that have a 14 or 15 year old girl as their high priestess? | ||
| Steve, people in Italy intuitively absolutely understand that point. | ||
| Look, they have a system of government here. | ||
| Italy's only tenuously comparable to a democracy. | ||
| We have a head of state, a President of the Republic, who's not elected by the people. | ||
| He's chosen by the Parliament. | ||
| And that's the best, that's the nearest you're going to get to a democratic mandate. | ||
| The Prime Minister himself wasn't elected either. He was picked by the President. So neither the President nor the Prime Minister has any popular mandate. And the people here in Italy, they know this. | ||
| And what we're seeing, what we've been seeing since the last election is a growing anger that will not allow itself to be dissipated in any other way apart from a fundamental and radical change to the system. | ||
| Now, whether that happens in the next election, I don't know, in March next year, in spring next year, or whether it happens afterwards. | ||
| But this is growing, this sense of outrage is growing. | ||
| This is the point I would really like to tie my earlier contributions around. | ||
| You know, the most important thing I've read in the news recently, it was on your feed, at Steve Bannon, was an article by Axios. | ||
| And here's their headline. | ||
| The headline is the big picture. | ||
| The title is The Great Realignment. | ||
| I'm just going to read this. | ||
| The big picture. | ||
| Republicans are becoming more working class and a little more multiracial. | ||
| Democrats are becoming more elite and a little more white. | ||
| That, I think, that's not a new dynamic, Steve. | ||
| You know this more than anyone else alive. | ||
| This dynamic was already growing in the last cycle. | ||
| This is one of the reasons Donald Trump won the election to all the professional commentators' great shock. | ||
| Not to your surprise, of course, but to everyone else's. | ||
| Because you knew, you saw this dynamic growing. | ||
| Now, let me go to another story here, right? | ||
| Also on at Steve Bannon, you know, I have to say folks, the war in Posse, so at Steve Bannon is the best thing on getter. | ||
| It's a firehose of information, right? | ||
| Listen to this, this is an article that the EU is warning of waves of migration caused by the global food crisis. | ||
| I think I might have spoken about it in the morning show, projecting perhaps up to 20 million people from Africa coming across the Mediterranean. | ||
| Look Steve, These anti-establishment currents aren't going away, right? | ||
| They're only going to grow as time goes forward. | ||
|
unidentified
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Why? | |
| This is the point. | ||
| Ben, we've got to bounce. | ||
| We've got a hard out here in about 60 seconds. | ||
| You can continue on Getter as I know you will tonight after 7 o'clock. | ||
| It's hit it right now. | ||
| How do people get to you? | ||
| It's at Harnwell on Getter. | ||
| And all I will do is say that the anger and the fear are rational responses to the abuses of government. | ||
| Amen. | ||
| Dave Walsh, how do people get to you on Getter and social media? | ||
| You're on fire, sir. | ||
| I'm on Getter. | ||
| Dave Walsh Energy. | ||
| Thank you, Steve. | ||
| Dave, incredible information. | ||
| Okay, tomorrow morning at 10 o'clock, we're going to pick it back up. | ||
| This is a world on fire. | ||
| 300 trillion dollars of debt. | ||
| What is going to happen to it? | ||
| How is it going to impact your life, your community's life, your family's life, and your country's life? |
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