Oct. 11, 2022 - Bannon's War Room
48:49
Participants
| 
| Speaker | Time | Text |
|---|---|---|
| We have to have a conversation as a country about how we might not know the next morning what happened. | ||
| We might not know the day after that. | ||
| And that is their point. | ||
| That is their point. | ||
| They're not all running to win. | ||
| Some of them will, unfortunately. | ||
| They are running to sow discord in America. | ||
| And it will change everything. | ||
| We will wake up the morning after election day. | ||
| We might not even call it that anymore in two years. | ||
| We might not call it election day. | ||
| We might call it election week. | ||
| Because what we are watching, and because it's so slow, It's so slow. | ||
| We don't cover it as a five alarm fire, but it is. | ||
| We are watching Republicans not just destroying democracy in the dark, breaking into election officers and plugging stuff in. | ||
| We're watching them do it from rally stages, debate stages. | ||
| That's where they're doing it. | ||
| And I guess The reason I ask you if we've been here before is do you think it requires, you know, a democracy commission? | ||
| Should President Obama ask Chris Christie and Ben Ginsberg to sort of man a democracy hotline the way, you know, people used to man other crises? | ||
| I mean, what should we do? | ||
| I can no longer remain in today's Democratic Party that's under the complete control of an elitist cabal of warmongers who are driven by cowardly wokeness, who divide us by racializing every issue and stoking anti-white racism, who actively work to undermine our God-given freedoms that are enshrined in our Constitution, who are hostile to people of faith and spirituality, | ||
| Who demonize the police but protect criminals at the expense of law-abiding Americans. | ||
| Who believe in open borders. | ||
| Who weaponize the national security state to go after their political opponents. | ||
| And above all, who are dragging us ever closer to nuclear war. | ||
| Now, I believe in a government that's of the people, by the people, and for the people. | ||
| Unfortunately, today's Democratic Party does not. | ||
| Instead, it stands for a government that is of, by, and for the powerful elite. | ||
| I'm calling on my fellow common-sense, independent-minded Democrats to join me in leaving the Democratic Party. | ||
| If you can no longer stomach the direction that the so-called woke Democratic Party ideologues are taking our country, then I invite you to join me. | ||
| As an exception, Look, I've always believed in reasonable exceptions. | ||
| This is a misrepresentation of my view. | ||
| But let's hear it from me, not from Congressman Ryan. | ||
| I absolutely think the 10-year-old girl, the case that we've of course heard a lot about, an incredibly tragic situation. | ||
| I mean, look, I've got a 9-year-old baby girl at home. | ||
| I cannot imagine what that's like. | ||
| For the girl, for her family. | ||
| God forbid something like that would happen. | ||
| I've said repeatedly on the record that I think that that girl should be able to get an abortion if she and her family so choose to do so. | ||
| But let's talk about that case. | ||
| Because why was a 10-year-old girl raped in our community, raped in our state in the first place? | ||
| The thing the media and Congress and Ryan, they talk about this all the time, the thing they never mention is that poor girl was raped by an illegal alien. | ||
| Somebody that should have never been in this state in the first place. | ||
| You voted so many times against border wall funding, so many times for amnesty, Tim. | ||
| If you had done your job, she would have never been raped in the first place. | ||
| Do your job on border security. | ||
| Don't lecture me about opinions I don't actually have. | ||
| Okay, it is Tuesday, 11 October, in the year of our Lord 2022. | ||
| You're in the War Room, and today we're four weeks away from tonight. | ||
| It's game day. | ||
| I want to bring in Steve Cortes. | ||
| We've got a pretty packed show today, as usual. | ||
| We're juggling a lot of balls, but everything comes down to this election, the most important midterm election since 1862. | ||
| Um, Cortez, we got a lot of capital markets go through because this crisis is only buildings. | ||
| We've been telling people and it's time to stop the happy talk about this. | ||
| Um, but I want to go to, you know, Nicole Wallace, you know, Nicole Wallace was a junior league gerbils. | ||
| to the war criminals in the Cheney Bush administration that lied about these wars and had a sprawl over the map, $9 trillion dead everywhere. | ||
|
unidentified
|
OK. | |
| As you see her chirping away at, she wants Chris Christie and Ginsburg on a hotline with Obama. | ||
| I don't even talk about what, it's such madness, right? | ||
| And then you got Tulsi. | ||
| Tulsi makes it official today. | ||
| All we need Tulsi to do is condemn Davos and the World Economic Forum and we'll be making some super progress. | ||
| And then you've got, at the end, and I think J.D., and of course they're playing it up that, oh, you know, they're hitting my back heels on abortion. | ||
| I think J.D. | ||
| was magnificent last night and I think he took it too. | ||
| Tim Ryan looked like, one, he didn't want to be there, which none of them want to be on stage, but two, it was like he was not I mean, it was like he was getting beat up so badly he wanted to get into his corner and just get his cut, man. | ||
| Steve Cortez. | ||
| Well, and here's why. | ||
| Because there are effectively two Tim Ryans, Steve. | ||
| There's the Tim Ryan in Ohio where he pretends to be a pragmatic moderate. | ||
| And then there's the real Tim Ryan when he's in Washington, D.C. | ||
| or when he's on the national scene and he's running for president. | ||
| And he's absolutely an establishment suck-up. | ||
| He is a toady of Joe Biden and Nancy Pelosi. | ||
| I'll give you one specific example. | ||
| Last night, he actually had the gall to say that he has always been in favor of natural gas. | ||
| And of course, the eastern part of his state is a natural gas powerhouse. | ||
| But that's a lie. | ||
| Just in 2020, not ancient history, just two years ago when he ran for president, he said that he was for a ban on fracking. | ||
| I put the video of it up. | ||
| Thankfully, there are not two J.D. | ||
| Vances. | ||
|
unidentified
|
J.D. | |
| Vance brings so much authenticity, and I think that came out last night in the debate. | ||
| He's one of these rare people, Steve, who can combine sort of blue-collar grit. | ||
| He is a fighter and a scrapper, and at the same time, he also has a highly intellectual grasp of the issues, of the policies. | ||
| I think that really shined through last night for the voters of Ohio. | ||
| They have a clear and stark choice to make between these two candidates. | ||
| One is a patriotic, populist fighter who will truly represent the state of Ohio. | ||
| The other one is a lackey for the establishment and for Washington, D.C. | ||
| He is a Washington sewer creature who pretends otherwise when he's in Ohio. | ||
| But I think J.D. | ||
| did a very good job of unveiling who Tim Ryan really is last night. | ||
| You know, JD is a little bit like Oz in the fact that we need to have, once he closes all the MAGA vote, Right. | ||
| Right. | ||
| in the Commonwealth of Virginia. | ||
| Once you close the MAGA vote, he's gonna win by six, seven points. | ||
| We have a chance to really have something special here in Ohio, but we have to have all our MAGA. | ||
| Remember, it's four weeks from tonight. | ||
| There is no substitute for victory, okay? | ||
| And you're coming from the guy that was the CEO of the 16 campaign. | ||
| We had to pull a coalition together. | ||
| If you liked Trump's win in 16, we can replicate that by bringing all the tribes together and keep our squabbling, and there's gonna be a lot of squabbling and a lot of fighting and a lot of hot talking after we have the fruits of victory on the 8th. | ||
| There is no substitute for victory, and right here's a perfect example. | ||
| Tim Bryan represents, if you go and we analyze all these commercials, all the TV stuff that's going on in these individual states, They're virtually all running as either moderate Republicans or faux populist nationalists. | ||
| It's amazing. | ||
| The Democrats understand what sells. | ||
| But your point is, they're one thing, and this is the way Tulsi's walking away, they're one thing in D.C., which is progressive, cabal, world economic forum, all of that with radical social policies. | ||
| They're another thing when they're out in the field, they're either running, and Tim Ryan's the ether of this. | ||
| He is a working class populist as he's running this thing, and his voting record and what he's supported and what he's worked for, Cortez, is 180 out. | ||
| Is that not correct, sir? | ||
|
unidentified
|
Correct. | |
| So he's trying very clearly, and he tried this last night, to run away from Joe Biden. | ||
| But here's the problem. | ||
| Even according to FiveThirtyEight, which is a left-leaning data company, not according to Steve Cortez or according to J.D. | ||
| Vance, according to FiveThirtyEight, he has literally voted with Joe Biden 100% of the time on key issues. | ||
| So he is an open borders and pro-war globalist in Washington, D.C. | ||
| That is clear, no matter what he pretends to be when he's back in the Buckeye State. | ||
| He's also a career politician. | ||
| I thought J.D. | ||
| did a great job of highlighting this contrast when he pointed out to the audience, he said 20 years ago, J.D. | ||
| Vance volunteered to join the United States Marine Corps, and it really changed his life because he had a very tough childhood, which a lot of people know about because of his book and because of the movie, Hillbilly Elegy, a very challenged, childhood in a lot of ways. He grew up with a lot of poverty and dysfunction in his home. | ||
| The U.S. Marines largely turned his life around. Twenty years ago, he joined the U.S. Marines. | ||
| In contrast, Tim Ryan, 20 years ago, he became a political operative in Washington, D.C., and he has never left. | ||
| Literally, he has only worked in politics. | ||
| And I think that's also very important. | ||
| One of the things that gets me so excited about this crop of candidates that we have out there nationally, and there's others in addition to J.D. | ||
| Vance who are just as great as he is, is so many of them, Steve, have accomplished great things outside of politics first. | ||
| And they're coming to politics as a second or even third career. | ||
| I'm talking about people like Blake Masters in Cary Lake, John Gibbs in Michigan, Joe Kent in Washington State, and then, of course, J.D. | ||
| Vance himself. | ||
| This group of outsiders, many of them new to politics, have never run for office before. | ||
| All of them who have accomplished great things in business, in military, in media, outside of politics. | ||
| They bring the kind of fighting spirit that we need to attack insiders. | ||
| And Tim Ryan is the consummate Washington insider. | ||
|
unidentified
|
J.D. | |
| Vance also did a very good job just on the specific issues, right, of confronting him. | ||
| For example, the comment, the shameful comment from Tim Ryan, where he said that we have to, quote, kill and confront MAGA. | ||
| Well, J.D. | ||
| challenged him on that. | ||
| You know, how dare you say that about voters? | ||
| You know, it's one thing to say something about J.D. | ||
| Vance. | ||
| He's saying that about MAGA voters in the state of Ohio, the constituents that he claims he wants to represent. | ||
| It's just as shameful as the red sermon from his ally Joe Biden. | ||
| And it was very appropriate and important That J.D. | ||
| highlighted that and challenged him on it. | ||
| And also to your point, Steve, about coalescing the coalition of MAGA voters in Ohio, because J.D. | ||
| needs every one of them. | ||
| And I believe he's earned their support. | ||
| You know, we had a really contentious primary, which is a good thing. | ||
| It's a good thing for the movement, good thing for the country. | ||
| But contentious primaries then make it a challenge to coalesce into the general election. | ||
| But I think J.D. | ||
| has done that incredibly effectively. | ||
| And I think last night was a major step toward finalizing that process. | ||
| and indeed winning this race. | ||
| We know that Ohio is a red state. | ||
| President Trump won it by 8%, but we also know that nothing can be taken for granted because the stakes are simply too high, and J.D. | ||
| Vance is somebody who is going to absolutely hustle through the finish line and earn the vote of every single Ohioan. | ||
| Another thing very powerful, like Carrie Lake, either they make in the ads, they make J.D. | ||
| to be somebody threatening somebody, but he comes across last night, he comported himself as a real gentleman. | ||
| I mean, he hit hard, but it was done in a very kind of restrained gentlemanly way. | ||
| I think that goes a long way because it shows you all the lies, the Democrats ads, all the all the ads are politics of personal destruction. | ||
| Also, they pick the worst. | ||
| They put the worst issue set ever, and you could see last night. | ||
| So I think he field stripped him. | ||
| It just couldn't be strong enough. | ||
| This shows you why they don't want to get on debate stages. | ||
| They do not want to get on a debate stage with a MAGA Republican because they can't stand up. | ||
| And people should understand this. | ||
| You look throughout the country, they're all running as faux populists. | ||
| All of them. | ||
| This shows you the power of populism right now. | ||
| They're all running. | ||
| I mean, Mark Kelly in Arizona is disgusting. | ||
| You think he was Trump's wingman. | ||
| Right? | ||
| No, it's a joke. | ||
| Let's go to Capitol Morgan. | ||
| Well, Steve, let me just say there, you know, imitation is the sincerest form of flattery, right? | ||
| So it is a good thing that we are moving the political center. | ||
| And none of them have changed their views, these kinds of people that we're talking about, right? | ||
| Mark Kelly or Tim Ryan. | ||
| But the fact that they believe they need to at least pretend to be populist is proof positive that we are winning, that we are winning the argument, that we're winning the hearts and minds of the citizens of America, and that that is a good thing that they're pretending to be who we actually are. | ||
| I'm going to hold the Jamie Dimon credit crisis clip. | ||
| Give me your assessment right now. | ||
| Bank of England deep into another bailout today to prop up. | ||
| I'm telling folks out there right now. | ||
| If you have a 401k, it's a 201k right now. | ||
| You should be checking. | ||
| We don't give financial advice here. | ||
| We give macro. | ||
| But everybody's got, like, you have to own your vote. | ||
| You have to own your own economics. | ||
| And you should be talking to your financial advisor. | ||
| There's something not right in the United Kingdom with these pension funds, Brother Cortez. | ||
| Steve, it's alarming, okay? | ||
| I mean, and I'm not exaggerating. | ||
| It is alarming that it was done the first time. | ||
| It's even more alarming that the Bank of England is doing it now a second time. | ||
| What I mean by that is, Steve, this is a time when central banks are supposed to be selling bonds, right? | ||
| They are supposed to be unwinding the totally unnatural purchases of bonds. | ||
| Instead, we see the Bank of England completely reversing course and buying British guilds, which is the equivalent, basically, of the 10-year treasury here in the United States. | ||
| Why are they doing it? | ||
| Well, reportedly, because British pension funds are in a ton of trouble. | ||
| That's the reality. | ||
| There was an article that came out over the weekend, and I posted it on my social media in the Asia Times, about the risks to global asset managers, particularly insurance companies. | ||
| And there was a quote in there that's very, very alarming. | ||
| And it was from, they didn't name who it was, but they said the portfolio manager for a major European insurer. | ||
| And this is what he said, quote, It's a global margin call. | ||
| I hope we survive. | ||
| That is how dysfunctional markets are right now. | ||
| Reflective of how dysfunctional the world economy is. | ||
| In the audience, four weeks out from game day, write that quote down. | ||
| Because here's what you're going to find out. | ||
| Just like the financial crisis of 2008, which came to everybody late, we've been saying this. | ||
| These pension funds, they've been doing these leverage bets. | ||
| Not just to hedge. | ||
| They've been doing leverage bets to juice their returns because of the negative zero interest rates. | ||
| A global margin call right now? | ||
|
unidentified
|
Okay. | |
| Here's what we're going to do. | ||
| Take a short break. | ||
| We're going to come back. | ||
| We're going to hear Jamie Dimon of JP Morgan. | ||
| Matthew Tierman is going to join us. | ||
| Also, we're going to talk about Brazil as we do the four weeks from today. | ||
| From today is game day. | ||
| Next in the War Room. | ||
|
unidentified
|
What are you seeing in terms of credit markets and are you seeing any signs of distress that are particularly concerning? | |
| You see early signs of distress. | ||
| You saw it. | ||
| I mean, this, again, is fairly typical. | ||
| You know, markets go down for, you know, people forecast their economy, etc. | ||
| The IPO market closes first. | ||
| That's kind of happened. | ||
| High yield closes second. | ||
| And structured credit, that's kind of happened for the most part. | ||
| You know, things can get done. | ||
| And then it starts to affect other credit. | ||
| You saw it with the gilt markets here. | ||
| You see a lack of liquidity in a lot of markets. | ||
| A lot of intermediaries can't intermediate like we used to because of regulations. | ||
| It is going to happen. | ||
| And I think the likely place you're going to see more of a crack and maybe a little bit more of a panic is in credit markets. | ||
| And it might be ETFs, it might be a country, it might be something you don't suspect. | ||
| If you make a list of all the prior crises sitting here, we would not have predicted where they came from, though I think you can predict at this time that it probably will happen. | ||
| And so I'd be, if I was out there, I'd be very cautious. | ||
| If you need money, go raise it. | ||
| Okay, that's the chairman and CEO of the JPMorgan Bank. | ||
| You should take that as a papal bull, okay? | ||
| Might be a country. | ||
| If you need cash, get it. | ||
| I brought Tiermon in. | ||
| We're going to talk Brazil in a second, but I got two issues with what happened there, Steve Cortez, and I would like you to jump in here. | ||
| In an hour interview, I think it was, why the reporter just didn't stay on that the rest of the time. | ||
| CNBC's got to up their game. | ||
| It's just not acceptable. | ||
| You get a one-on-one with Jamie Dimon, and he drops a bomb like that. | ||
| All the other stuff they're talking about, the recession, come on. | ||
| This is a bomb, okay? | ||
| Also, correct me if I'm wrong, brother Cortez, because you brought this up immediately. | ||
| Is Jamie Dimon basically blatantly asking for pow? | ||
| Hey bro, you gotta stop the QT. | ||
| We're gonna need some juice and we're gonna need a big league quickly, soon. | ||
| Steve Cortez. | ||
| So yeah, let me add to the second part first. | ||
| Yes, 100% he is clearly begging Jerome Powell saying, we need help from the Fed. | ||
| The only problem is, if the Fed were to stop tightening, guess what? | ||
| This already out-of-control inflation gets even worse, particularly for working-class Americans. | ||
| Not that Jamie Dimon cares very much about the plight of working-class Americans. | ||
| But yes, he is clearly begging for a pause from the Fed. | ||
| But regarding the first part, CNBC used to be a great network. | ||
| I worked there for many years. | ||
| It's where I made my bones. | ||
| It used to be a place that really informed the audience on capital markets, sort of pulled back the curtain of Wall Street, and allowed regular investors to have a seat at the table when it comes to Wall Street. | ||
| Unfortunately, though, that network has been fully taken over by narrative. | ||
| It is now fully part, really, of the NBC family, and it prioritizes narrative over fact-finding, over journalism, over truth-seeking. | ||
| And regarding Jamie Dimon specifically, they just fawn over him. | ||
| They treat him as if he's some sort of a god. | ||
| Now listen, he's a very powerful figure in American finance, but clearly follow-up questions were in order there. | ||
| Now look, I think Jamie Dimon though basically has the facts correct. | ||
| that global capital markets are right now in absolute turmoil. | ||
| And to prove that point, if we can, let's pull up chart number one. | ||
| I want to show Taiwan Semiconductor. | ||
| This is a company that I've mentioned previously on the show because it's not just important for the global economy, but also for national security issues as they relate to Taiwan. | ||
| That is one year back of Taiwan semiconductor trades here in the United States. | ||
| That's a U.S. | ||
| version of TSM. | ||
| As you can see, and by the way, when I made this chart, the low yesterday was 6701. | ||
| It has now opened up. | ||
| It is 6% lower on the day today. | ||
| So we're all the way down to 64. | ||
| From 145 roughly a year ago at the beginning of this year, actually, all the way down to 64. | ||
| It has been more than cut in half. | ||
| Now, why is Taiwan's semiconductor so important? | ||
| Well, because the country of Taiwan dominates global chip production, and within Taiwan, TSM is by far the dominant player in that chip production. | ||
| So this is an incredibly important barometer of the global economy, including the United States. | ||
| Now, what we have right now, unfortunately, is synchronicity regarding the recession, something that we have not experienced yet. | ||
| What I mean by that is, Since China emerged as a global economic power 20 years ago, when the establishment of Washington, D.C. | ||
| ushered them into the World Trade Organization on terms that were incredibly beneficial to the junta in Beijing, since that time, we have not had the U.S., Europe, and China, the three major economic centers of the world, go into recession at the same time in synchronicity. | ||
| That is happening right now. | ||
| And anyone who tells us that they know what the fallout will be is, frankly, just guessing. | ||
| But I think we can, with some assurance, say it's going to be very dire. | ||
| And Taiwan's Senate conductor certainly points to that. | ||
| By the way, I don't want to excuse Joe Biden from this, though, because what the Democrats try to say is, oh, well, No. | ||
| Joe Biden unleashed the inflationary mess that has spread throughout the world, and he also has been the primary driver of needlessly escalating what should be a very regional and immaterial struggle between Russia and Ukraine, he escalated it into a global crisis that has dire economic ramifications for the world. | ||
| So on both of those fronts, Joe Biden causes not just for the United States, but causes calamity for the world. | ||
| And also the radical transition, shutting down our full-spectrum energy dominance, the tripartite leg of the creative crisis of Biden. | ||
| Your point about Beijing, remember in 2008, those in the audience old enough to remember, it was Beijing's economy that actually kind of pulled the world, besides all the flooding the zone with free money, Beijing's economy. | ||
| Tierman, people don't realize your day job is actually in finance, your side hustle is politics. | ||
| You've talked about this a lot. | ||
| Do you hear the sounds, sir, of 2000? | ||
| Does it sound like 2007 to you, brother, Matthew Tierman? | ||
| Oh, yeah. | ||
| No, I'm getting signals that are, you know, triggering deja vu. | ||
| People forget that in the summer of 2007, you saw some chinks in the armor of that full market. | ||
| During the summer, the quant funds all blew up together at the same time and the market cracked. | ||
| And then it came back and it made a new high, and that presaged the turmoil in 2008 when the credit market started seizing up. | ||
| Jamie Dimon's 100% right. | ||
| You know, the credit markets drive really the allocation of capital all over the globe, from big business to small business, home ownership and mortgages. | ||
| And when the credit markets start to break down, you see all sorts of dislocations that then create more turmoil. | ||
| And then it becomes almost like a self-fulfilling prophecy. | ||
| James Carville said, what, 15 years ago, that when he gets reincarnated, he wants to come back as the bond market because they're the silent pillar. | ||
| That's the most powerful institution globally, is the allocation of capital to debt markets. | ||
| You look at the insurance companies that you guys talked about the last segment, insurance companies have to play a very, very tricky game. | ||
| It's called duration, sort of matching their durations and all the money they take in and they then lend out, they have to time it right with the notional age of their debt profile, where the anchor is of where most of their debt matures. | ||
| And when the market sees up, they cannot match their durations. | ||
| And that starts to have ripple effects in the marketplace. | ||
| That's just one facet. | ||
| I've seen agricultural and metals and commodities have these outsized moves and gets dislocated one way or the other. | ||
| That tells you that something's not healthy in the internals of the market. | ||
| Look, you talked about CNBC. | ||
| We used to joke on the trading desk, because it started in 08, 09, when they became real cheerleaders. | ||
| We call them the constant noise and BS channel. | ||
| Because it was all narrative. | ||
| You bring in guys like Steve Leesman, and they're economists, and they're big auto guys, and all they do is cheerlead. | ||
| And the reason they didn't delve deeper with Jamie Dimon is they don't want to spook the markets. | ||
| Everybody wants to be, you know, long and strong together. | ||
| Hold it, hold it, hold it. | ||
| Hang on, hang on, hang on. | ||
| Hit rewind on that and go slow. | ||
| Why did she not ask the following question? | ||
| Because Jamie Dimon said right there, We are hurtling towards a credit crisis on a global basis, right? | ||
| And by the way, you don't know where it could be, ETF. | ||
| It might be a country, okay? | ||
| A sovereign debt crisis. | ||
| Tell the audience why she did not ask a following question. | ||
| They do not want to spook the markets any more than they already are today. | ||
| We made a new 52-week low in the large scale indices like the S&P 3573 last I looked. | ||
| That is taking out the lows made last Friday, two Fridays ago. | ||
| You know, one of the first things you learn in technical trading is stocks and indexes on 52-week highs go higher and stocks and indexes on 52-week lows go lower. | ||
| Trend is very important. | ||
| We broke the bull market trend. | ||
| And I like to look at the old saying that you learn in med school and when you're doing differential diagnosis. | ||
| When you hear hoofbeats, think horses, not zebras. | ||
| What changed in the last year? | ||
| The end of 13 years of zero interest rate policy. | ||
| That has changed the entire scope of the marketplace and how capital is allocated. | ||
| That's why you see the UK buying guilds. | ||
| That's why you see the insurance companies having to... | ||
| Hang on, hang on, hang on. | ||
| Let me get Cortez in. | ||
| Cortez, he just hit it. | ||
| We've had structurally zero interest. | ||
| The whole, what we say, the whole world's financial structure, not the economic structure, the finance rolls into that and also reflects it, is structured on zero interest rates, negative interest rates. | ||
| That's the sound of that. | ||
| That's the that's the the bulge you hear blowing from the boiler. | ||
| Is that correct? | ||
| Correct. | ||
| Exactly correct. | ||
| And we are paying the price now for the Fed not normalizing rates when it should have, right? | ||
| And Ben Bernanke, by the way, instead of being awarded a Nobel Prize, he should be living in eternal infamy for his failures while he was Fed Chair. | ||
| Unfortunately, though, It's a succession of failure. | ||
| And speaking of awful Fed chairs, the woman who is now the Secretary of the Treasury, as much turmoil as there is in financial markets, let me tell you what she said just yesterday in her speech, as reported by Bloomberg. | ||
| This is what Janet Yellen said, still, for now, the Secretary of the Treasury on her way out. | ||
| But she said, quote, We continue to think that markets are functioning pretty well. | ||
| That is what the Secretary of the Treasury of the greatest economy in the history of the world is telling the American people right now. | ||
| When I read it, I almost said, this has to be Babylon B, right? | ||
| This can't be a real quote. | ||
| And I went and looked it up, and it's a real quote. | ||
| It's actually what Janet Yellen said. | ||
| So if you want another reason to be worried, I know we're giving people a lot of reasons to be worried. | ||
| If you want another reason to be worried, Be very concerned that the top financial officer of the United States is either totally oblivious or, and this is probably more likely, she's just willing to lie through her teeth to tell people what she thinks they want to hear rather than dealing with the actual economic reality on the ground. | ||
| Which is, in many ways, Steve, this is the worst economy, not just since 08-09, not since the 1970s, this is the worst economy since the Great Depression. | ||
| Because we have right now a combination, an absolute vice that is pressing against the American people, particularly working class people, of Crashing real wages because we have a recession which is intensifying, and we have costs in their life which are soaring. | ||
| And that is in your balance sheet. | ||
| You've had nine trillion dollars wiped out in the stock market. | ||
| It's going to get worse in the next several weeks. | ||
| You've had trillions in the bond market, right? | ||
| And now your real estate's about to drop 20% at least. | ||
| Okay, short break. | ||
| We're gonna talk about four weeks from today. | ||
| It's game day. | ||
| We have a very special guest on next. | ||
| Tirman and Cortez are gonna hang around. | ||
| We gotta talk about Brazil still. | ||
| And what's happening down there with the Bolsonaros and Lula. | ||
| All next in The War Room. | ||
|
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War Room. | |
| Pandemic. | ||
| rejoice when the law more let's take down the ccp war room pandemic with stephen k bannon the epidemic is a demon and we cannot let this demon hide War Room. | ||
| Pandemic. | ||
| Here's your host, Stephen K. Bannon. | ||
| Okay, welcome back. | ||
| By the way, we're going to get back to this credit crisis that Jamie Dimon's talking about, the impact on your life, your country's life. | ||
| And quite frankly, it's the tone, it's the subterranean tonality of this entire election, this economic, not just inflation, not just stagflation anymore, but something far, far, far deeper. | ||
| We're going to get back into that. | ||
| Also, we're going to tie in Brazil, what's happening there. | ||
| Remember, there is no substitute for victory. | ||
| There is no substitute for victory. | ||
| Now's the time to come together. | ||
| This is why we talk about Dr. Oz and J.D. | ||
| Vance. | ||
| J.D.' 's great performance last night. | ||
| All the MAGA voters, right? | ||
| All the Mandel voters. | ||
| All the Kathy Barnett voters. | ||
| Everybody got to come together in the Commonwealth of Pennsylvania and Ohio. | ||
| We can have sweeping victories in those Senate seats. | ||
| I want to bring in Ronna McDaniel now, head of the RNC. | ||
| Ronna, you've been on this since the 20th of January in the year of our Lord 2021. | ||
| We're four weeks away from game day. | ||
| Just give us, in your perspective, where do we stand on the battlefield right now for this midterm election? | ||
| Well, thanks, Steve. | ||
| Thanks for having me. | ||
| I think the most important thing the RNC did immediately after 21 is our election integrity effort, but then we started voter reg effort. | ||
| So in Florida, we're up 400,000. | ||
| In Pennsylvania, we're up 144,000. | ||
| In North Carolina, we're up 180,000. | ||
| The list goes on and on. | ||
| We're up in Nevada. | ||
| These are key, key numbers because it means we're going to have more voters to come out. | ||
| Slow down for a second. | ||
| So number one was that, hey, we got to go out. | ||
| There's, there's obviously Trump voters out there. | ||
| There's all these people out there, independents, disaffected Democrats that are not registered. | ||
| So your first thing was to go to these key States and let's get people registered. | ||
| Can you just go back, give us some of those numbers? | ||
| Cause I want to, I want to talk scale here for a second. | ||
| Just hit those numbers for us again. | ||
| Florida, for example, when I took over as chair in 20, We had a deficit of about 350,000 more Democrats registered in Florida than Republicans. | ||
| We are now up over 400,000 in Florida. | ||
| Pennsylvania, just since 2020, we're up 144,000 more Republicans that have registered in Pennsylvania. | ||
| In North Carolina, we're up 118,000. | ||
| These are key, key numbers. | ||
| So it costs a lot of money to register voters. | ||
| It's time consuming, it's recognizing people who are moving into the state, where are your voters, data to do this. | ||
| And this is what we quickly shifted our investment to heading into 2020. | ||
| Talk about the other two aspects of this are obviously election integrity and training people up to be poll worker, not just poll watchers, but poll workers, election officials. | ||
| We saw this come to fruition in the Youngkin victory in the Commonwealth. | ||
| I think we had 95% participation. | ||
| And the other is to get out the vote. | ||
| So you got voter registration as one leg of the stool. | ||
| The second is the training and all the aspects of voter integrity. | ||
| And the third is to get out the vote. | ||
| Walk us through on voter integrity. | ||
| The scale of the training, who's trained up, and how are they going to be deployed? | ||
| I think the first thing to recognize is this is the first time the RNC can do this. | ||
| We were under a consent decree for 40 years, not allowed to do poll watching or election integrity, anything, not even for the 2020 cycle. | ||
| This is the first cycle we're able to do this. | ||
| So one, we've put 17 different election integrity directors, 17 battleground states. | ||
| We have lawyers in all of those states that have been recruiting for the past years, training lawyers that will be precincts and also be in the war rooms at the state level. | ||
| And then we'll have a war room in Washington, D.C. | ||
| and then training poll watchers. | ||
| We have about 30,000 poll watchers already trained. | ||
| We're going to ramp that up. | ||
| That'll be more by Election Day. | ||
| And then also 30,000 poll workers, which I think is even if not as important, but maybe more important. | ||
| These are people who will actually be working the polls in Fulton County, in Wayne County, in Milwaukee, in Philly. | ||
| These are going to be the people that we have vetted that are going to be counting the ballots. | ||
| So I just want to make sure because we've had clear. | ||
| We got all these outside groups yesterday. | ||
| We try to have a couple day and they're doing their thing. | ||
| But in addition, the main battery, the RNC, you have trained up 30,000 poll watchers. | ||
| In addition, 30,000 poll workers, the poll workers being the folks that will be inside the room validating the signatures and all that sort of stuff. | ||
| So essentially 60,000 volunteers throughout the country. | ||
| Correct. | ||
| Correct. | ||
| And then we're in lawsuits right now on the poll worker. | ||
| So we're in 70 lawsuits. | ||
| One, I'll give you an example. | ||
| We're in Maricopa County right now. | ||
| Arizona law requires that county has an equal number of Democrat, Republican poll workers. | ||
| Maricopa will not give their details. | ||
| They're not being forthcoming. | ||
| So we sued them. | ||
| They're also creating obstacles, prevent poll workers from being able to work. | ||
| They're saying you've got to work 21 days, which is ridiculous for nine hours a day. | ||
| Anybody who has a job can't give up 21 days. | ||
| So they're putting these artificial barriers in place. | ||
| So we've sued Maricopa County. | ||
| We've sued Clark County. | ||
| So on top of just the recruitment, we're also holding these problem counties accountable. | ||
| And we just won in Clark County. | ||
| Right now, as you see it, early voting starts right away. | ||
| On a 1 to 10 scale, we have to deliver people to come out to vote. | ||
| We understand that. | ||
| People have to turn out, right? | ||
| You have to own your vote. | ||
| You have to assist your family and colleagues in owning theirs. | ||
| As you see it right now from on a 1 to 10, where would you put us as far as your comfort level, given the work you guys have done over the last two years on the voter integrity issue? | ||
| Oh, I'd say state by state. | ||
| It's different. | ||
| Wisconsin attend. | ||
| Florida attend. | ||
| Texas attend. | ||
| Georgia, I'd say the effort's been attended. | ||
| We need people in DeKalb County. | ||
| Those are going to be issues. | ||
| People to volunteer to be poll watchers in Georgia and DeKalb. | ||
| It's a very deep blue Atlanta County. | ||
| But Nevada, it's tough because the laws in the state suck. | ||
| And I'm, pardon my, but that is a state where they send live ballots. | ||
| The state's been terrible, the governor's been terrible, the legislature's been terrible, which is all the more reason why we have to win. | ||
| California's still going to have ballot problems. | ||
| So state by state, we've had big wins, but there are going to be tough states where I think our candidates are going to have to win by a larger margin because of Democrat policies that degrade. | ||
| And if you say, if you were to pick out right now states you're concerned about, because we're going to get to the call for action and volunteers here. | ||
| Uh, you're, I think you're saying Arizona is an issue. | ||
| Nevada is an issue. | ||
| California is an issue. | ||
| Would you throw Michigan in there? | ||
| Uh, Pennsylvania. | ||
| What, what are, when you, what keeps you up at night in this regard of this election integrity issue? | ||
| So at Michigan, actually TCF Wayne County has taken 11,000 of our poll workers. | ||
| They can't build the shift, so they actually took us, they've taken our people. | ||
| So that's good. | ||
| Wisconsin, we have 5,000 full workers. | ||
| This is something that we had to elect in 2021. | ||
| December of 2021, these were people who were on the ballot to be elected. | ||
| The places I have concerns, Georgia, we need more poll watchers. | ||
| And DeKalb County, Arizona, it's not the personnel issue, it's more the lawsuits that we're in. | ||
| Nevada, We just need coverage. | ||
| I feel really good. | ||
| We're over 90% coverage on early vote and election day. | ||
| We just need more volunteers. | ||
| We should always use more volunteers. | ||
| In California, ballot harvesting is real. | ||
| We have to do it too. | ||
| We need to make sure we count the votes. | ||
| What I would say to everybody listening, make sure you vote early in person, and then go volunteer to do a shift as a poll watcher, and then make sure you're counting out your neighbor and your ecosystem of voters. | ||
|
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You have to make sure that everybody's voting. | |
| There's two theories out there. | ||
| One is you've got to hold your vote and show up on game day, and that's what we've been doing. | ||
| The other is we've got to inventory these or build up the base. | ||
| Where do you come down on the fact of get out there and vote? | ||
| Do you see any logic in the folks who are saying, like the Carrie Lake situation in Arizona, hold your vote because then they can't see what the total number of votes are, so they can't game the system? | ||
| Do you have any thoughts on that? | ||
| I like voting earlier because then we know our in the bank voters. | ||
| And we know who requested an absentee ballot to send them in. | ||
| If you're uncomfortable, I would say go early vote in person. | ||
| I just did this. | ||
| I went to my county clerk, I physically saw them, they checked my ID, and then I filled out my ballot and handed it directly to my clerk so I know it's done. | ||
| That's what I would say people should do. | ||
| Do early vote in person. | ||
| That's going to be open in almost every state next week. | ||
| And then go sign up for a shift, be a poll watcher. | ||
| A lot of these states, Steve, it's a full day exercise. | ||
| In Ohio, when you sign up to be a poll watcher, you have to be there all day. | ||
| Some states do shift. | ||
| So it's half the day. | ||
| So we really do need people to go vote early in person. | ||
| Then we know our in the bank voters. | ||
| And then on election day, we can seek out those voters that we know we need to get our numbers. | ||
| Let's talk about the get out the vote efforts and the efforts you guys are doing Early voting starts at game day, and obviously MAGA has traditionally represented big on game day. | ||
| What is the get-out-the-vote efforts? | ||
| And then I want a call to action here. | ||
| Where are people supposed to go? | ||
| Because this audience wants to help and wants to assist. | ||
| What should they do? | ||
| Sure. | ||
| So, you know, the RNC is built. | ||
| It's the largest ground game. | ||
| We have a thousand staff. | ||
| I'm sure you're aware we've been reaching out to anti-Asian black voters at the highest level ever. We have 39 of centers. We've made 70 million voter contacts. | ||
| I mean, this is the largest ground game we've ever put in place. | ||
| But if you want to get involved as a poll watcher or to go find your voting location, go to protectthevote.com. | ||
| Sign up to be a volunteer and poll watchers will contact you. | ||
| And then if you want to know where you vote, when you're voting starting, go to vote.gov and you'll get all your information for what is required in your state. | ||
| Given all the, you know, the issue set, and people don't realize what goes into this, the issue set's right, the messaging's been right, the selection of candidates, and everybody's not totally happy with the candidates. | ||
| There's a lot of MAGIC folks that we would have loved to have won that didn't. | ||
| There's some established people that won, but we're beyond that now. | ||
| Given the team we've got, given the issues we've got, given all the efforts that we've gotten, It's obvious, and you can see this, the inflection point, Ron, as you know, and you and I talked a lot about that in 16 and 20, when the other side understands it's over and they're starting to throw guys under the bus, they're starting to, candidates. | ||
| But on media, it's getting more and more frantic. | ||
| It's getting more and more, you know, I think dangerous rhetoric pointed at Republicans and a MAGA. | ||
| What would be your recommendation? | ||
| How do we tone down Well, I think it's what you and I believe in, which is grassroots, neighbor-to-neighbor. | ||
| The best way to change a vote, the best way to calm somebody down is to have a conversation. | ||
| And I say to people, this isn't a time to be shy or to be uncomfortable talking about politics. | ||
| When you talk about these school board races, your kids being cut out of school, You're pissed off, gotta talk to people about it. | ||
| You talk about gas prices, you talk about inflation. | ||
| And then when Democrats are trying to accuse Republicans of intimidation or scare tactics when it comes to protecting the election, you need to simply say, all we're asking is to observe. | ||
| And if there's nothing to hide, why do they worry about us? | ||
| And these are simple conversations. | ||
| It's a lot of common sense, but we have to be out talking. | ||
| We cannot just expect other people to do this for us. | ||
| We can't say, oh, the party has this, or my candidate has this. | ||
| Every single one of us can make sure we win in this. | ||
| Ronna, what is your social media? | ||
| And then one more time, how do they get to the site? | ||
| We want everybody to go to it right now, but what's your social media so people can follow you? | ||
| So it's at GOP Chairwoman on Twitter, and I'm on Facebook, Ronna McGee. | ||
| And then go to protectthevote.com and vote.GOP. | ||
| Everybody get out. | ||
| I got my daughter her absentee ballot in Utah. | ||
| I made sure she stayed a Michigan voter. | ||
| Everybody needs to make sure that we're doing everything we can. | ||
| And like you said, Steve, even if you don't like the candidate, anything's better than what Nancy Pelosi, Chuck Schumer, and Joe Biden are doing to our country. | ||
| I know. | ||
| Look at Fetterman. | ||
| I know that a lot of audiences... Haas is not your guy. | ||
| It's not the point right now. | ||
| We'll argue about that afterwards. | ||
| Rana, thanks for taking the time and thanks for all the effort. | ||
| Voter registration, training for election integrity, poll workers, election officials, poll watchers, and of course the Get Out the Vote Massive. | ||
| Get Out the Vote. | ||
| Thank you very much. | ||
| Look forward to having you back on. | ||
| Thanks, Steve. | ||
| Appreciate it. | ||
| It's four weeks from today, and this is the most important midterm election since 1862. | ||
| You can be part of history here. | ||
| We have the opportunity, the unique opportunity, to put a crushing death blow at the ballot box on the Democratic Party as a national political institution. | ||
| From school boards to state legislatures, we could flip Nevada's legislature, New Mexico's, Minnesota's, It's all there. | ||
| From your county commissioner up to the House and the Senate. | ||
| There is no substitute for victory. | ||
| None. | ||
| Okay? | ||
| None. | ||
| You are what your record says you are. | ||
| We must win. | ||
| Tiermann and Cortez next. | ||
|
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|
Getter has arrived. | |
| The new social media taking on big tech. | ||
| Protecting free speech. | ||
| I'm cancelling cancel culture. | ||
| Join the marketplace of ideas. | ||
| The platform for independent thought has arrived. | ||
| Superior technology. | ||
| No more selling your personal data. | ||
| No more censorship. | ||
| No more cancel culture. | ||
| Enough. | ||
| Getter has arrived. | ||
| It's time to say what you want, the way you want. | ||
| Download now. | ||
| By the way, we've got two of Getter's biggest stars, Tirman and Cortez, on with me. | ||
| By the way, I just want to remind everybody, there is no substitute for victory. | ||
| Did you like Trump's presidency, or did you like Trump winning in 2016? | ||
| Did you like that? | ||
| Did you like that? | ||
| Everybody in the chat blowing me up right now. | ||
| Did you like that? | ||
| Did you like that? | ||
| You know how we did that? | ||
| What I did, the first call I made when I took over the campaign, was to Reince Priebus, right? | ||
| We had to bring, because Trump was not performing among traditional Republican voters. | ||
| We had to solve that. | ||
| You win in a coalition. | ||
| I know you don't like hearing that, but you win in a coalition. | ||
| We can do all this fighting on the evening of November 8th. | ||
| Let me repeat this. | ||
| There is no substitute for victory. | ||
| If we want to stop this madness, we have to stop it on 8 November. | ||
| We don't stop it on 8 November, folks. | ||
| I don't know where we go. | ||
| I really don't. | ||
| I don't know how you do this. | ||
| You must win. | ||
| You must win. | ||
| So, no whining. | ||
| I don't mind bitching and moaning. | ||
| Remember, the Royal Navy, sullen, not mutinous. | ||
| As long as you're not mutinous and just sullen, we can live with that, okay? | ||
| But there's no substitute for victory. | ||
| Talking about victory, let's go to Brazil. | ||
| I want to play something real quick. | ||
| I got a tear in my eye only for a few minutes. | ||
| Play this clip from Bernie Sanders on Pod Save the World. | ||
|
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You know, the U.S. | |
| tends to look at leftists with some degree of concern, you know, in Latin America. | ||
| Do you see an opportunity here with potentially Lula on top of Boric and Petro and a bunch of other leaders to have a new set of issues? | ||
| I would hope so. | ||
| And by the way, in fairness to the Biden administration, before we talk about their relationships with progressive governments, they have, and I think in an unusual way, You know, sent the CIA and set the Secretary of Defense down to Brazil over the last several months to make it clear that they did not want to see a rigged election or a coup. | ||
|
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And that's what the Biden people did. | |
| Hold it, hang on. | ||
| Is James Jesus Angleton, one of my heroes, is he still running the CIA? | ||
| I thought the CIA denied that. | ||
| It was never reported. | ||
| It was just briefly mentioned, I think, back in May or June. | ||
| Bernie Sanders sitting there, the CIA, what is the CIA doing in Brazil to say they want a fair election? | ||
| What business is it of the CIA, sir? | ||
| Well, when your idol was running the CIA and really built out the CIA, you know, coming out of the OSS and coming out of the post-war era and Eisenhower, you know, they moved surreptitiously in trying to buffer America's interests and positions. | ||
| All right. | ||
| And now they move surreptitiously to buffer the leftist internal partisan hackery's interests. | ||
| And they sent him down. | ||
| This was reported very blurby, just very in passing in May of this year in reference to Burns going down. | ||
| And this is a former State Department hack, this former ambassador. | ||
| And he went down July of last year to meet with Bolsonaro people in the government and basically threatened Flex. | ||
| You know, it's a new new sheriff in town. | ||
| This is not Trump. | ||
| This is us. | ||
| You know, we're globally aligned with the left. | ||
| We don't want to see you undermining the faith and the election integrity of Brazilians electoral system. | ||
| The irony is that they already have their fellow travelers in the Supreme Court under Moraes, the Supreme Court, the SDF, who we've talked about in depth, imprisons anyone who criticizes their anti-democratic Stasi tactics. | ||
| That court oversees the STE, the Supreme Electoral Tribunal, which is the one that oversees the elections. | ||
| So they already have their fellow travelers in place. | ||
| This was a straight muscle flex. | ||
| Burns now denies that he went down there. | ||
| Uh, but it's very telling that Bernie and, you know, senators on the inside were aware of this and actually Republicans did nothing, which is kind of, you know, telling and sad in and of itself. | ||
| I mean, I agree with what you say. | ||
| There are no purity tests. | ||
| Uh, we have to come together and win, but, you know, we don't have our best in the U.S. | ||
| Senate. | ||
| We got a few good guys, but most of them are asleep at the wheel and not performing. | ||
| They should be bringing this up and saying, hey, remember Latin America in 1970s that we, you know, many volumes have been written about their engagement in Latin America. | ||
| But Tiarmon, Tiarmon, I know, I know you got to go. | ||
| I know you got to, I know you got to leave us for a bigger, better interview. | ||
| That's Tiarmon's middle initials, BBD, bigger, better deal. | ||
| What am I, Chuck Schumer? | ||
| Come on. | ||
| Hang on. | ||
| No, hang on. | ||
| We know there's already election issues down there, not just with the Supreme Court. | ||
| Look at the phony polling. | ||
| And look, President Trump's tweet, yes, that helped. | ||
| But there's something wrong with being, what, 16, 18 points down, and then Bolsonaro almost winning. | ||
| The election has major issues. | ||
| Eduardo's told us that. | ||
| Bolsonaro's told us that. | ||
| You got the Supreme Court. | ||
| Lula is a transnational criminal in association with the CCP that looks at Brazil as the number one objective they can get for right now. | ||
| Give me two minutes on that, about the problem with the election and the CIA sticking their nose in it on Lula's side, as Pod Save the World just said with Bernie Sanders. | ||
| Yeah, they see no sense of irony, no sense of self-awareness when they say, oh, we set the CIA down to, you know, flex on Bolsonaro. | ||
| Meanwhile, they already have it, you know, with the overseers, their fellow travelers. | ||
| Look at the polling on September 28th. | ||
| It showed, in all the aggregated polls, 57-43 for Lula. | ||
| And they missed the mark by, you know, 15 points. | ||
| On the 6th, it was 53-47. | ||
| It tightened. | ||
| There was a poll yesterday that showed it's 50-50. | ||
| It's heads up. | ||
| It's neck and neck. | ||
| It's tightening in a big way. | ||
| But this is what I've said from the beginning. | ||
| What we have to worry about is the same thing we had to worry about in 2020 and we have to worry about now in places like Ronald McDaniel was talking about in greater metro Atlanta. | ||
| We need to win by such a margin they cannot stuff the ballot. | ||
| The SP, I call it the SPLC Sur, South, Agencia Publica did a big hit piece on you and me and Beatty and our coverage of Brazil. | ||
| Bannon and Trump allies go to war against the election integrity. | ||
| And then they mentioned Alan dos Santos, who is a exiled journalist because they tried to arrest him and he fled here to the U.S. | ||
| And they're saying he is, you know, wanted for anti-democratic activities. | ||
| As I tweeted at this hack journalist who might as well be from the SPLC South America office, why don't you describe those anti-democratic activities as opposed to this sort of nebulous, you know, negative, pernicious verbiage just to try and create an optic. | ||
| But the guy was being a journalist, and he had to flee, and the Supreme Court put out an Interpol red notice on him. | ||
| I mean, this is what we're dealing with. | ||
| They imprisoned journalists. | ||
| They imprisoned Bolsonaro's congressman, Daniel Silveira, twice. | ||
| I mean, they are an absolute scozzi, out of control. | ||
| Even the New York Times and Jack Nicas did a piece saying, you know, the Brazilian Supreme Court may be going too far. | ||
| When you've lost the New York Times, you should be rethinking and reevaluating. | ||
| Give us your social media so we can follow you, sir. | ||
| Matthew Terremond, M-A-T-T-H-E-W-T-Y-R-M-A-N-D, at Getter, at Twitter. | ||
| My Twitter's censoring my posts on Brazil because the Supreme Court's reached out to them. | ||
| They're putting labels. | ||
| You can't engage with them, so Getter's where it's at. | ||
| Matthew Terremond, thank you. | ||
| Now you can go for your Daily Telegraph documentary. | ||
| Go with God, sir. | ||
| Go ahead. | ||
| Cortez, Dave Walsh, Libby Emmons from Post Millennial, all next in the War Room. |
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