Nov. 3, 2022 - Bannon's War Room
48:46
Participants
| 
| Speaker | Time | Text |
|---|---|---|
| We know that more and more ballots are cast in early voting or by mail in America. | ||
| We know that many states don't start counting those ballots until after the polls close on November 8th. | ||
| That means in some cases we won't know the winner of the election for a few days until a few days after the election. | ||
|
unidentified
|
Rates are going to continue to go up for the foreseeable future. | |
| And in fact, the market has been increasing its expectation of where it thinks rates are going. | ||
| As you can see on the last chart that I have, which shows you back when, back last August. | ||
| There we go. | ||
| Back last August, you can see that the market thought rates would peak early next year at about 3.25%, gradually been ratcheting that up. | ||
| Rates are now likely to peak more like above 5%, and not until sometime in the latter part of next year. | ||
| And this has real implications for Americans, of course. | ||
| Mortgage rates are now over 7%. | ||
| That's another thing that, politically, we have to deal with. | ||
| Good for savers, but very bad for borrowers, like people who are trying to buy a home. | ||
| It takes time to count all legitimate ballots. | ||
| In a legal and orderly manner. | ||
| It's always been important for citizens and democracy to be informed and engaged. | ||
| Now it's important for citizens to be patient as well. | ||
|
unidentified
|
That's how it's supposed to work. | |
| This is also the first election since the events of January 6th, when the armed angry mob stormed the U.S. | ||
| Capitol. | ||
| I wish I could say the assault on our democracy ended that day, but I cannot. | ||
| As I stand here today, there are candidates running for every level of office in America, for Governor, Congress, Attorney General, Secretary of State, who won't commit, they will not commit to accepting the results of the election that they're running in. | ||
| This is a path to chaos in America. | ||
| It's unprecedented. | ||
| It's unlawful. | ||
| And it's un-American. | ||
| I've said before, you can't love your country only when you win. | ||
| We have been hearing the Fed chairman talk about a soft landing for quite some time. | ||
|
unidentified
|
It sounded like he was giving up on that yesterday for the most part. | |
| We're not going to have a soft landing. | ||
|
unidentified
|
We're going to have a recession and it may be pretty rough. | |
| I think that is the likely scenario. | ||
| Trying to engineer a reduction in inflation from these levels down to the 2% that the Fed wants is a bit like landing a big jetliner on an aircraft carrier. | ||
| It's really, really hard. | ||
| And so I think the Fed chairman, who's lost some credibility over inflation, he was in that whole transitory camp for a while, is now starting to talk more realistically about what's likely to come. | ||
| Mike? | ||
|
unidentified
|
How did Jay Powell miss it for so long? | |
| It's a good question, Mike. | ||
| You have to also recognize the Biden administration missed it. | ||
| You have to recognize that Jay Powell was up for reappointment about a year or so ago. | ||
| And the White House was signaling that they thought inflation was going to come down. | ||
| And I think Jay Powell is a team player. | ||
| And I think there are a lot of people, Paul Krugman blew it too. | ||
| There are a lot of very, very good economists and smart people. | ||
| Most did. | ||
|
unidentified
|
I mean, most people missed it. | |
| You did not. | ||
|
unidentified
|
Larry Summers did not. | |
| But there aren't many Democratic economists that got this right. | ||
| And the reason was, and no Republicans, the reason was because we hadn't had inflation for 40 years. | ||
| And all the economic models kind of had adjusted themselves almost to the point where they said it was impossible to create inflation. | ||
| And so you had sensible people saying that we haven't had inflation for 40 years, so we can put two and a half trillion dollars into the economy, and it's not going to cause inflation. | ||
| In our bones, we know democracy is at risk. | ||
| But we also know this. | ||
| It's within our power, each and every one of us, to preserve our democracy. | ||
| And I believe we will. | ||
| I think I know this country. | ||
| I know we will. | ||
| You have the power. | ||
| It's your choice, it's your decision. | ||
| The fate of the nation, the fate of the soul of America, lies where it always does. | ||
| With the people. | ||
| In your hands, in your heart, in your ballot. | ||
| My fellow Americans, we'll meet this moment. | ||
| We just need to remember who we are. | ||
| We are the United States of America. | ||
| There's nothing, nothing beyond our capacity if we do it together. | ||
| May God bless you all. | ||
| May God protect our troops. | ||
| May God bless those standing guard over our democracy. | ||
|
unidentified
|
How much worse would inflation have been, though, if Build Back Better had passed in the huge form that the Biden administration originally tried to get it through? | |
| Yeah, you have to say that Congress saved the president from himself. | ||
| Joe Manchin saved the president from himself. | ||
| If that bill had passed, it would have just added to all of this. | ||
| It would have added to the deficits and the debt. | ||
| It would have created an even bigger problem that we would have had to unwind. | ||
| So in a way, we got lucky that it all got dialed back to a sensible place. | ||
| California Governor Gavin Newsom's race for re-election is not close, so he's campaigning for embattled Democrats. | ||
| Does it feel like a red wave? | ||
| Yeah, of course it does. | ||
|
unidentified
|
And again, I'm not paid to say that. | |
| I'm paid to say, you know, faith and feeling. | ||
|
unidentified
|
I mean, I get it. | |
| Look, I mean, I could be the cheerleader. | ||
|
unidentified
|
I'm also a pragmatist. | |
| You feel it. | ||
| Newsom, with one of his party's biggest digital and fundraising operations, sounds like a Democrat with bigger ambitions. | ||
| And it goes to my fundamental grievance with my damn party. | ||
| We're getting crushed on narrative. | ||
| We're going to have to do better in terms of getting on the offense and stopping on the damn defense. | ||
|
unidentified
|
I urge all of you living in Florida to join the fight or join us in California. | |
| Okay. | ||
| That was a, uh, I want to hat tip to the, uh, my producing team and the folks at real America's voice in Denver. | ||
| That's a mini masterpiece to cut back. | ||
| It was, it's a tale of one city, but two speeches. | ||
| A tale of reality versus, I don't know, some guy that's kind of drifting off into some sort of bizarre fantasy. | ||
| The nation in a crisis. | ||
| And look, the one thing they had wrong about the Republicans on this show with Cortez and Navarro and myself and Bratt. | ||
| And Jason Trennert and others, Philip Patrick of Birchgold, said back in, what was it, February, March of 2021, when they had the American Recovery Act, that the aggregate demand problem had been solved. | ||
| And this was going to turbocharge inflation. | ||
| Yesterday, you had, and we'll have Cortez on at five. | ||
| I got Tierman with me now. | ||
| I think Brad's going to join me later. | ||
| You had a capitulation. | ||
| By the Fed. | ||
| It's going to be a hard landing. | ||
| It's going to get a lot uglier. | ||
| And this is also the Fed reaching out to MAGA to say, hey, look, we understand what's going to happen next Tuesday, and we're actually on your side. | ||
| So we're going to give a 75 basis point pop today to let you know that we're on the team. | ||
| This is going to have massive implications down range. | ||
| I'm going to play Lisa Abramowitz, who I think is one of the smartest people in the world, over at Bloomberg. | ||
| Just brilliant, her analysis of where we are in the world and what implication. | ||
| We'll play that in a second. | ||
| But even CNN, Steve Collinson, who's Stephen Collinson, the smartest guy they got over at CNN, and a guy that hates Trump and hates MAGA even more. | ||
| Just said, hey, it was absolutely the wrong speech because he doesn't address the nation. | ||
| In fact, if I can pull up, the RNC did a great job on the research. | ||
| If I can pull up the RNC's tweet, you go through everything, the nation's fate. | ||
| Remember, this is the guy's closing argument. | ||
| This is a closing argument. | ||
| This is a closing argument. | ||
| Nothing on crime, inflation, the economy, nothing, zero, no marks. | ||
| Can we put that, can we put the tweet up? | ||
| If we can do it during this show today, this morning, we can do that? | ||
| Okay, maybe we can't. | ||
| Okay, I'm taking back. | ||
| You see, when I'm nice and I say you did a brilliant job, then we ask for the things we've had programmed forever and it doesn't happen. | ||
| That's okay. | ||
| I really don't want the tweet. | ||
| Okay, you guys are amazing. | ||
| Anyway, they had a tweet. | ||
| They had a tweet up, the RNC Research, that did a great job about saying what he didn't cover in the speech. | ||
| Then Biden comes out. | ||
| You can't make this up. | ||
| I'm not a good enough writer to script this for my own filmmaking days. | ||
| I couldn't write this well. | ||
| Biden comes up with a tweet, which I know we don't have, so don't put it up, that talks about democracy as a way of being. | ||
| Democracy is a way you see the world. | ||
| I mean, it's like Biden the guru. | ||
| He's so detached from where the country is. | ||
| He's so detached where the American people are from, where we are today. | ||
| But you got it with both barrels on Morning Joe. | ||
| They understand they're going to be blamed for what happens on Tuesday when we have, if we all deliver and become force multipliers in the next couple of days and make sure we secure the vote. | ||
| By the way, Biden's gaslighting you right there by telling you it's going to take a week to count them. | ||
| Because we've got to figure out, we have to figure out, like in 2020, MarketLive's got to be able to figure out how many votes we have to have to turn this thing around. | ||
| And then, you know, all the mail-in ballots with no signatures, no dates, no nothing, right? | ||
| In Pennsylvania, just to drop a couple of random states, like in Pennsylvania or in Michigan, right? | ||
| Or even in Arizona. | ||
| So there we are. | ||
| That's his closing argument. | ||
| And you see right now – you see what's happening with the markets. | ||
| So let's go ahead and play. | ||
| I want to play Lisa Abramowitz, and then I'm going to bring in Matthew Tierman. | ||
| We're going to talk some capital markets first. | ||
| Then we're going to get to – we're going to talk about Brazil. | ||
| Are we ready? | ||
| Can we go? | ||
|
unidentified
|
I don't know the answer to that, right? | |
| Do you want to play game theory? | ||
| Do you want to play this game with the Federal Reserve? | ||
| Because that's ultimately what you're asking. | ||
| you he's going to do. Do you still want to be long hair? | ||
| Because this feels pretty uncomfortable. | ||
| I don't know the answer to that. Do you want to play game theory? Do you want to play this game with the Fed Reserve? Because that's ultimately what you're asking. Are you going to call their bluff and say ultimately you can't do this? | ||
| Well, the more people do that, the further the Fed has to go. | ||
| So it kind of has a self-fulfilling prophecy against you. | ||
| There is a larger question, right, which I think is actually expressed in the bond market. | ||
| If you believe that the Fed will lack the political will to ultimately do what needs to be done to bring inflation back down to 2%, then you do not want to get long, long treasuries, because right now you cannot be certain that those yields are going to come down materially in the way that so many people had thought. | ||
| And that might be one of the distinguishing features that people are kind of trying to grapple with right Sometimes we make it, I think, a little bit more complicated than it is. | ||
| I remember in the last ten years you just had some very simple statements from some hyper-bullish people who just basically said the Federal Reserve is telling you what they want. | ||
| Listen to them and don't fight them. | ||
| And hasn't the Federal Reserve just told us yesterday in that news conference, ultimately, what they want? | ||
| The Fed is not in control. | ||
| Right now, Mr. CPI is in control. | ||
| Right now, inflation is in control in a way that we have not seen before. | ||
| And nobody really understands it. | ||
| You know, Jennifer McEwen was just saying that she thinks that there's going to be a more rapid disinflationary force in the U.S. | ||
| A lot of people would agree with her. | ||
| Tom Porcelli among them. | ||
| Which is one reason why they think the Fed will have to back off. | ||
| And it's not even in the Fed's eyesight. | ||
| So, if the Fed isn't really in control... Okay, let me have it. | ||
| Lisa Bromowitz. | ||
| That's a name. | ||
| Write that woman's name down. | ||
| Tiermon. | ||
| The Fed is not in control. | ||
| CPI is in control. | ||
| And Abramowitz lays out, they say, hey, of course, CPI is in control right now. | ||
| They have no earthy idea kind of what they're doing. | ||
| They're grappling around because they made so many mistakes. | ||
| And she brings up the D word, deflationary. | ||
| That you could be in a situation where you could have massive deflation in Japan, which the Bank of Tokyo, the Bank of Japan is fighting right now in inflation everywhere else. | ||
| Give us your assessment. | ||
| You're a capital markets guy. | ||
| Give us your assessment of what's happened in the last 12, 24 hours. | ||
|
unidentified
|
He froze. | |
| I I had his big moment. | ||
| Tierman's big moment after that. | ||
| Okay, let's try to boot. | ||
| By the way, you know what I should have never done? | ||
| Is give a compliment after the cold open. | ||
| You see, no good deed goes unpunished. | ||
| No good deed goes unpunished. | ||
| We're going to have Tierman on here for a second. | ||
| So let's talk about signal, not noise. | ||
| We have two massive signals. | ||
| That is what's going to happen next Tuesday to sort this out. | ||
| And by the way, the New York Times, our beloved paper of record for our beloved Republic, actually, the headline in the New York Times, everything going on, GOP plans to shrink Social Security. | ||
| They just want to make sure the voters in places, random places like Arizona and Florida get that. | ||
| GOP signals plans to shrink Social Security. | ||
| Well look, I'm deeply involved in all this and I've never heard anybody mention anywhere anything about Social Security and Medicare. | ||
| That is a bald-faced lie and that's how desperate the New York Times is. | ||
| They will lie to you with a straight face to try to turn this around. | ||
| Here's the signal we got is that the Fed is basically capitulating by saying we don't have control of inflation. | ||
| We're going to have to take some extraordinary measures. | ||
| Understand that this thing's going to get gnarly, and a hard landing, you could have a very hard landing, and that very hard landing could be coming quite quickly. | ||
| On the other side, you've got the big signal of, they're closing arguments all about democracy, insurrection, J6, hey baby, you got it, you're all in, and he's right. | ||
| The American people are going to, the fate of the nation is in the balance, and the American people are going to have a vote. | ||
| He's trying to make it a either-or. | ||
| This is a referendum on him. | ||
| This is a referendum on total and complete incompetence and malfeasance. | ||
| We're going to get to all of it. | ||
| We're going to try to solve some technical problems. | ||
| Matthew Tierman, we've got a lot on Brazil we're going to talk about. | ||
| Also, we have the great Darren Beattie. | ||
| Darren Beatty, Revolver has kind of singled out Carrie Lake for some special focus. | ||
| And some other conservative ink is now starting to jump in. | ||
| We've got Darren Beatty, we've got James Urquell's all over New York. | ||
| Joe Allen is in Pennsylvania with the Cyborg. | ||
| Poll numbers are shifting right now, Dr. Oz's favorite. | ||
| Plus we have Mark Mitchell from Rasmussen. | ||
| We've got it all. | ||
| Capital markets, the economy, politics, polling, and personalities in the first hour. | ||
| Where else can you get that? | ||
|
unidentified
|
But the world. | |
| Okay, it's a tale of one city in two speeches. | ||
| One given early in the afternoon about capital markets affecting the world, the other by the guy that's supposed to be President of the United States. | ||
| We know he's totally illegitimate. | ||
| Do I have the tweets? | ||
| If you pull up the RNC tweet first, if you get the RNC tweet, the RNC tweet, it goes to a punch list, a punch list of everything he should have talked about or mentioned. | ||
| Zero, none of it. | ||
| No crime, no economy, no inflation. | ||
| Then, afterwards, Biden puts out a tweet. | ||
| Thanks, Debra. | ||
| That's fantastic. | ||
| Biden puts out a tweet. | ||
| It's like he's a Zen master. | ||
| I think Jean-Pierre has affected him too much, the Zen master comms director. | ||
| That it's like Biden is guru, Biden is Zen monk. | ||
| Democracy is a way of being. | ||
| Democracy is a way to see the world. | ||
| Dude, what are you talking about? | ||
| The nation's, your economy is a dumpster fire. | ||
| People are making decisions between to eat or heat the home. | ||
| Right. | ||
| Everybody's getting crushed. | ||
| And what the Fed chair just told you, because of your policies, it's going to get worse. | ||
| By next summer, the commercial real estate business will be collapsed. | ||
| The residential housing market will collapse. | ||
| The construction market will collapse. | ||
| Unemployment will be raging everywhere because of your actions. | ||
| And you're going to sit there and tell me that the armed and angry mob you're talking about is going to be guys going to the Federal Reserve outside the temple down there. | ||
| That's going to be the arm and angry mob because of your policies. | ||
| Tiermon, I think we've solved the security problem. | ||
| Talk to us. | ||
| Give us a couple of minutes on capital markets before we go to Brazil. | ||
| Well first, sorry about that. | ||
| The last time I saw my phone do exactly that was two years ago this month when I was covering Hunter Biden and your friend and mine, the Southern District, decided to play enforcement agent on our wrong thing. | ||
| The elephant in the room in the market, and they're not talking about it because it's so indict the entire system that they are all part of, whether they're, you know, cheerleading or whether they're criticizing. | ||
| That is 13 years of zero interest rate. | ||
| The ultimate capital market, heroin addiction, the punch bowl, euphemistically, has been taken away and they have flooded the capital markets in the West and globally with zero cost capital and excess liquidity. | ||
| You can't sop that up overnight. | ||
| That is going to take years, and they are going to make a choice. | ||
| They're going to have to make a choice. | ||
| Will they continue to raise rates to sop it up so that we don't end up in a serious stagflation that's got optionality on a Weimar, Germany-like economy? | ||
| Or do they go with the short-term politically expedient move, which is start cutting rates again so as to try and swing the election in 2024? | ||
| Now, previous Fed peeps have been hyper-politicized. | ||
| Jerome Powell is politicized, but not hyper-politicized, and he knows that if he continues Bernanke's unholy experiment of unlimited balance sheet expansion, we're screwed. | ||
| There will be riots in the street for food. | ||
| Hang on, hang on a second. I get it. | ||
| If you've noticed, when we've talked about over the last year or two about the structure of global finance is structured and built around zero interest rates or negative interest rates. | ||
| This is what Tiramont's talking about. | ||
| The entire system is built upon a heroin addiction of easy money. | ||
| Of free money, essentially, for the powerful and the wealthy. | ||
| Free money. | ||
| You didn't participate in the upside of that, but baby, let me tell you something. | ||
| You're about to get it with both barrels on the downside. | ||
| And this is what I'm talking about. | ||
| When Cortez says, hey, in the Weimar Republic, at least they were a homogenous society. | ||
| Here, we're very different. | ||
| When you get hyperinflation, look at Turkey. | ||
| Today, they announced 85% inflation. | ||
| You know what Erdogan said? | ||
| Hey, I got to figure out how to live with it. | ||
| Because if I start popping rates, the whole system is going to collapse. | ||
| You've got all these little, you know, the Sarajevo's. | ||
| As Sarajevo was to World War I, you've got a bunch of little Sarajevo's popping up all over the world right now. | ||
| Matthew Tierman. | ||
| A hundred percent. | ||
| You know, he may think he has to live with it, but when the people come and try to Gaddafi him and rip him limb from limb in the street, because the destabilization of society based on unstable prices and shortages of goods, i.e. | ||
| food, That has real-world implication. | ||
| And you know who benefited from the free money? | ||
| Silicon Valley, who could prop up their zombie venture companies. | ||
| You know, I remember the late 90s. | ||
| Dogwalker.com, number seven, raising capital. | ||
| Big investment bank, who could bring these companies public for huge fees. | ||
| Hedge funds, who did not pay any cost of capital for their intraday trading leverage and their prime brokerage costs. | ||
| No, you've got, by the way, there's a thing in Zero Hedge I'm going to talk about this afternoon with Kurt. | ||
| We've got another problem with the derivatives. | ||
| This was the real problem with the England situation with trusts. | ||
| It exposed the pension funds have been playing the game. | ||
| Of massive leverage and derivatives to juice their returns because in a zero interest rate environment, they couldn't make their table, right? | ||
| They had to do it. | ||
| They had to get higher returns. | ||
| The whole thing is structuring. | ||
| Larry Fink and these guys are big shots. | ||
| They're talking, hey, it was an era of free money. | ||
| Any moron could have done this. | ||
| You're about to see, this is, I'm telling you, and yesterday was capitulation. | ||
| Lisa Abramowitz of Bloomberg said, hey, the Fed basically just told you they are not in control of this. | ||
| They've printed so much money over so many decades, and they've, particularly since 2008, had negative interest rates and blown up the balance sheet of the Federal Reserve for liquidity for the wealthy and the powerful. | ||
| Let me go into Brazil for a second. | ||
| One more point on this. | ||
| When you say don't fight the Fed, this macro policy, 12 unelected bureaucrats appointed just to set the cost of capital, the most important economic signal in the market that really shows supply and demand and economic growth. | ||
| The amount of pain that we should have felt in 2008 and 2009 was off-put to where we're going. | ||
| In 2008 or 2009, In 2008-09 we had an over-leverage in the banking system. | ||
| And so how did they solve that? | ||
| They moved that leverage and had to even increase it to the sovereign balance sheet. | ||
| They took it off the bank balance sheet. | ||
| And they put it on your balance sheet, on the taxpayers balance sheet, the sovereign balance sheet. | ||
| And that's 13 years with no distress cycles and having to be accountable for that. | ||
| And the people didn't participate. | ||
| So this is why, remember, we've broken the back of the Biden illegitimate regime. | ||
| We killed him in the crib next Tuesday. | ||
| We got to deliver. | ||
| And the Radical Democratic Party, the Fed, we're going to break the back of the Fed. | ||
| Any touching of the debt ceiling. | ||
| Let me put this warning shot across them right now. | ||
| Nothing will be considered by MAGA. | ||
| Nothing will be considered by this audience. | ||
| And this audience is the power player. | ||
| They're the chairman of the credit committee. | ||
| The chairman of the credit committee will not consider anything at all, even negotiation discussions. | ||
| Until we change the ownership of the Federal Reserve, 24 prime brokers own it now, the big banks, JP Morgan, Goldman Sachs, all that. | ||
| That day is coming to an end. | ||
| Any discussion on this, this has to stop. | ||
| The Fed, your currency has to be put in a trust controlled by the American people. | ||
| Talk about a cartel of capital, 24 primary dealers of the treasury bond, who move them to market, appointed and overseen by the Fed. | ||
| They choose who their brokers are. | ||
| That power is totally a cronies one. | ||
| And it's not just the, you're talking now monetary policy, but our people, our base, our voters, We have to focus on fiscal policy. | ||
| It's why what Adam NGF's Get Open the Books does is so important. | ||
| And it has to be local. | ||
| It's got to be bottoms up. | ||
| No, no, but here's okay. | ||
| Let me tie it back to the New York Times. | ||
| They're already trying to put the panic button. | ||
| They're saying when Bannon and these guys are talking, they're talking in code, they're going to take your social security and make it. | ||
| That's a lie. | ||
| That's a lie. | ||
| There's going to be fiscal discipline But it ain't gonna be. | ||
| We're not touching Social Security and Medicare. | ||
| So our elderly voters, don't let them scare you. | ||
| But things have to change. | ||
| Look, I'm a hawk. | ||
| You can't have a trillion dollar defense budget anymore. | ||
| I'm just sorry. | ||
| You can't do it. | ||
| You can't have a trillion dollar Medicaid anymore. | ||
| We can't do it. | ||
| You can't have all these programs. | ||
| You can't have another $750 billion of just discretionary. | ||
| That madness has that fiscal domination where the bank just prints the money. | ||
| That madness is stopping. | ||
| They ridicule you every day that you breathe through your mouth and they're your betters. | ||
| Look at the system they have set up and it's crashing around us and you're going to pay for it. | ||
| You didn't get any participation in the upside. | ||
| They took it all. | ||
| That's where the concentration of wealth is in this country. | ||
| And Bernie Sanders, the fact that you haven't been going after this from day one, I want every left-wing populist to join our crusade. | ||
| Because Bernie Sanders ain't tough enough to take this on. | ||
| You see how tough enough we were to take Biden on, take these radical Democrats on, to take corporations on, and now we're going to take on the frickin' Federal Reserve. | ||
| Because the system of these Wall Street banks and the Larry Finks of the world and the Federal Reserve It is insanity. | ||
| It's not a system that works. | ||
| It's boom or bust, and you don't get participation in the boom, but you got to sit there. | ||
| The bust is all on top of you, and those days are going to end. | ||
| We're not going to play these games anymore. | ||
| Tiramont, hang on for a second. | ||
| I got to get Brazil. | ||
| I got so much going on, but we had to get this rant out because this is it. | ||
| This is the thing itself. | ||
| If this doesn't get solved, we don't have a country. | ||
| You talk about sovereignty of the southern border, the invasion of the southern border. | ||
| This is where they've actually taken your currency and weaponized it against the American people. | ||
| That's these big shots are talking. | ||
| Ratner, I got all these ideas. | ||
| Larry Summers is going to have all this. | ||
| Morning Joe, he's got a knitted brow. | ||
| And Morning Joe's sitting there going, Mika, you know, I have for years have talked about this deficit. | ||
| Crap. | ||
| Look at MSNBC. | ||
| You guys wanted to build Bill back better. | ||
| The beauty of that cold open is at the end, what they wanted to do, the other three and a half trillion was only stopped by MAGA. | ||
| Was only stopped by MAGA. | ||
| They wanted to do another three and a half trillion with Mitch McConnell and Shelby and all these crooks all part of it. | ||
| You want populism, baby? | ||
| I'mma give it to ya. | ||
| Straight, no chaser. | ||
| Okay? | ||
| A shot, no tracer. | ||
| We got Beattie, we got Tiermon, we got Mark Mitchell from Rasmussen, the great Jane Zirkle-Clamity. | ||
| Jane's with us in New York. | ||
| We got Joe Allens on the case of the cyborg in Pennsylvania. | ||
| The polling's flippin' there. | ||
| We got it all. | ||
| Just stick around. | ||
| We're gonna take a short commercial break. | ||
| We're gonna be back in the warm in just a moment. | ||
|
unidentified
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Everything's just beginning. | |
| But the games you want to play. | ||
| Bring it on and I will fight to the end. | ||
| Just watch and see. | ||
| It's all started. | ||
| Everything's begun. | ||
| And you are over. | ||
| Cause we're taking down the CCP! | ||
| Spread the word all through Hong Kong. | ||
| We will fight till they're all gone. | ||
| We rejoice when they're no more. | ||
| Let's take down the CCP! | ||
| The judge has also ordered that social media companies remove any posts that question the election results. | ||
| So this is massive suppression, and despite it, or probably because of it, physical protests are breaking out across Brazil. | ||
| Matt Tierman is an investigative journalist. | ||
| He joins us to assess what exactly is going on here. | ||
| Matt, thank you so much for joining us tonight. | ||
| So the Biden administration is admitting they had the CIA director try to bully the president of a sovereign country on the question of his own elections? | ||
| How can that happen? | ||
| Well, they don't even think it's a big deal. | ||
| It's par for the course. | ||
| In fact, Bernie Sanders was talking about it on Pod Save America, the lefty podcast of a former Obama administration alum. | ||
| And it was like, OK, this is great. | ||
| This is what we should be doing. | ||
| We need to secure, quote unquote, democracy our way. | ||
| Now, Bernie Sanders was somebody who was rallying for decades against the CIA involvement in Latin America in the 70s. | ||
| But everything's about politics for these people. | ||
| And in addition to the CIA director, now they're talking about sending Jake Sullivan down there, the National Security Advisor, to make sure the transition is orderly. | ||
| But the bigger deal, I think, is that they have had a see-no-evil, hear-no-evil mentality for the last two years. | ||
| As Bolsonaro followers, politicians aligned with him, journalists have been censored, imprisoned. | ||
| I wrote a piece for CDM Press. | ||
| Okay, the piece was amazing of what you said. | ||
| You could see how they stole this, Matthew. | ||
| So give me an update on where we stand. | ||
| Bolsonaro's kind of come out and said, I'm going to follow the Constitution, play within the rules. | ||
| There's a lot of kind of weakness around him. | ||
| But the people have taken to the streets, and the people don't look like they're going to back off. | ||
| Give me your assessment. | ||
| First, like Brazil, Sweden, Chile, Colombia, you and I have been talking about this election for six to nine months. | ||
| We've been skating to where this puck is going. | ||
| We've been talking about it playing out as it just has between the first round and the second round. | ||
| And now, not surprisingly, Brazilian people aren't stupid. | ||
| We talked about this the other day, where we have an engagement in America of maybe 20% people know what's going on in politics. | ||
| In Brazil, because of their historical memory, 10 years ago with Lula and Dilma, 30 years ago with the military dictatorship, they are politically engaged. | ||
| They know what's going on, and these protests on the street are accelerating. | ||
| Bolsonaro has not discouraged them. | ||
| He has just perfectly hedged himself, intelligently so, by saying, we're constitutionalists. | ||
| Puller within the lines, play within the pit, the four lines of the soccer pit you pointed out yesterday, the other day. | ||
| And don't break the rules. | ||
| Go to the street, protest, but don't break stuff. | ||
| Don't, you know, block commerce, don't steal, don't light things on fire. | ||
| And then here you have, and there's so many, I'm getting hundreds of videos. | ||
| And after the Tucker hit last night, thousands of heartbreaking messages from just Brazilians on my social media, just unsolicited people coming into me and saying, we don't want to be Venezuela. | ||
| We do not want gulags. | ||
| We do not want communism. | ||
| Please help us get our message out. | ||
| And that's why the Tucker hit was so big. | ||
| It's the most watched U.S. | ||
| media platform, media show in the country. | ||
| I believe you should be, but you know, Fox News, they have big parrots with big cable. | ||
| And the protests are absolutely accelerating because people are not giving up. | ||
| It rained all day yesterday. | ||
| They're out in force today. | ||
| They're doing this... Hang on one second. | ||
| I want to play for our audience and for our podcast and radio audience who can't see it. | ||
| I want to play the footage again. | ||
| If Denver could play the little girl. | ||
| We have our Tankman image. | ||
| It's one of those moving... It's a little girl with the sunflowers and the bouquet of flowers going up and giving it to the soldiers. | ||
| The uniting of the Brazilian people. | ||
| With the military here, because remember, break your news. | ||
| This is not about a military takeover. | ||
| It's not a military junta. | ||
| Remember, they're up against a transnational criminal class as both partnerships with the party of Davos, the World Economic Forum, and the Chinese Communist Party. | ||
| That's what's trying to take over Brazil. | ||
| What you see in the streets is the people of Brazil saying, we don't want that. | ||
| We don't want to become what's happened to these other Latin American countries that have fallen in this, like Venezuela, like Cuba, right? | ||
| Like Bolivia. | ||
| Do you see in that image when she hands the flower and the flag, the sentry who is guarding at the front gate of this military installation, he salutes her. | ||
| The poetic imagery of that is the military works for the people. | ||
| The most defenseless, a seven-year-old girl, he salutes her and that's saying, I work for you. | ||
| I work for the Brazilian people. | ||
| I'm here to defend Brazil from threats, foreign and domestic. | ||
| I'm here to defend Brazilian sovereignty. | ||
| And this is very important because Bolsonaro, if he takes action, which I think he will take action, what will be cited in the Brazilian constitution is Article 142 that says the military is the stabilizing institution of society. | ||
| Given their history, this is how they struck the constitution. | ||
| And it's built around this, their slogan, order and progresso, order and progress, and that the military is built on hierarchy, discipline, and order. | ||
| The constitutionalists like Bolsonaro are about rule of law, not mob rule like the Marxists, like Lula, who's going to let the prisoners out of jail and threaten the lives of the police, which is why the police will be joining in on this, and they have already. | ||
| And so, here's the funniest thing. | ||
| The mainstream media in Brazil, Globo, I call Brazil CNN, even though they have their own CNN licensed imprimatur there, but Globo is running out, there's no protest. | ||
| They're trying to film an empty lot and saying, oh, it's wound down, there's nothing there. | ||
| Don't believe your lying eyes, as even cities in the north, full of strongholds like Recife, are filled with people taking the streets. | ||
| And the mainstream media is running the same playbook they ran, for instance, in Poland. | ||
| That there's no, or Hungary, or everywhere they go, they coerce fraudulent optics and narrative. | ||
| You've got some inside baseball. | ||
| We've been talking about this report they were supposed to do with the first. | ||
| You've done this mathematical report with these mathematicians and statisticians to show how they stole it in the first round and the second. | ||
| What's the status of this mythical report from the military about the assessment of the election? | ||
| Where is that? | ||
| Does it even exist? | ||
| And is it going to happen? | ||
| Is it going to be put forward to the people? | ||
| First, for a point of clarification, so that I don't get an interpol red notice from Alexander de Moraes and the Brazilian Supreme Court. | ||
| I'm guessing that's coming anyway. | ||
| But the report that I published with Todd Wood and CDM.Press was a statistical analysis on Newcomb-Benford law that shows, that indicates, statistical anomalies. | ||
| It does not prove fraud in and of itself. | ||
| What it proves is a necessity for an audit. | ||
| If you act in good faith, you say these numerical distributions are so out of whack with normal standard distributions, you need to audit this. | ||
| Now, the military has the right to oversee the elections and fraud in the elections and take enforcement action if they can find the perpetration thereof. | ||
| The military did not release a report round one because they did not want a constitutional crisis and a standoff with the courts that they get attacked for interfering with the elections ahead of round two. | ||
| I believe they've done one in round one. | ||
| And from my sources on the ground, within the circles of governments, there is a military audit in construction. | ||
| And obviously, if it's being disrupted, ostensibly, it will be released. | ||
| If there is fraud, which you and I certainly believe there is based on what we've seen with our own eyes, then the military will be the vehicle to demonstrate it to the people and ensure the mandate of upholding the Constitution is enacted with. | ||
| The regime head here in the United States jumped in in the first minutes after this thing was announced, at a free, fair, and transparent election. | ||
| You don't know what you're talking about. | ||
| You sent your CIA guy down there to try to get involved in this thing. | ||
| Jake Sullivan should never, no American official should get on a plane and go into this situation. | ||
| This is for the Brazilian people. | ||
| This is not for the American government and the American apparatus to stick their nose in it. | ||
| This is for the Brazilian people. | ||
| It's for that little girl in the military and those crowds to figure it out, okay? | ||
| They're the ones going to have to deal with Lula, the transnational, CCP-owned criminal, right? | ||
| But it's the folks in Brazil got to figure it out. | ||
| Matthew Tiermann. | ||
| This is not, you know, some, you know, banana republic with no culture and history of governance, no strong constitution. | ||
| This is a country of 210, 220 million of people. | ||
| 12 largest economy in the world, third largest in our hemisphere, sixth largest country by population. | ||
| There is no mandate for U.S. | ||
| government engagement. | ||
| As I said on Tucker, I'm old enough to remember when the left brailed against CIA involvement in Latin America in the 70s. | ||
| Now that was, you know, from the view of, okay, well, conservatives are coming in, Nixon and his people, so we have to be against it. | ||
| But when it's our people, like Bernie Sanders said on Pod Save America, oh, well, we got to protect democracy as we see it. | ||
| Bernie, keep your weak nose out of Brazil's business and try to man up. | ||
| And let's take on the Fed. | ||
| Let's see your big talk about faking all the big donors to the Democratic Party, all the Wall Street tycoons that are financing this and the global corporations. | ||
| Bernie, man up. | ||
| Keep your nose out of Brazil. | ||
| Let the little girl and the soldiers figure it out. | ||
| You'd be a tough guy. | ||
| If you're such a tough guy, why don't you go against the Fed? | ||
| Why don't you go against Wall Street? | ||
| Anybody out there that backs Bernie Sanders on anything, just look in the mirror. | ||
| You're a joke. | ||
| Because Bernie Sanders is a joke. | ||
| He's had two shots at Clinton and didn't do it, didn't lay a glove on it. | ||
| It was a pillow fight. | ||
| It wasn't even tough enough and good enough to be a my pillow fight. | ||
| It was just a pillow fight. | ||
| Matthew Tierman. | ||
| I mean, to Bernie's credit, you know, he has been a voice talking about the Fed. | ||
| Now, you know, Mark was not wrong about everything. | ||
| His critique of political economy predicted that capitalism left unfettered would concentrate wealth so much that it would lead to cronyism. | ||
| Now, their prescription, their solution, collectivism and top-down autocracy in the distribution of resources is totally debunked. | ||
| By reality. | ||
| The Soviet Union, everywhere it goes, it fails. | ||
| But the critique of political economy and the pitfalls of capitalism exist. | ||
| Now, Bernie is all talk, right? | ||
| I mean, he isn't joking. | ||
| Hang on, I gotta go, I gotta, I gotta, what's your social media? | ||
| I gotta go to, I gotta have to go to a guy that gets longer clips on Tucker. | ||
|
unidentified
|
Ah, please. | |
| Tiermine gets 33 seconds, BD gets 44 seconds. | ||
| I gotta teach you the technique of getting your full three minutes. | ||
|
unidentified
|
Well, you get 55 seconds, so I guess it's feed-related. | |
| What's your social media? | ||
| Go there before he gets arrested by the Interpol, before he gets his red notice that he gets rolled up. | ||
| Where do you go on social media to follow Brazil? | ||
| Maybe we'll talk later today if I'm not detained. | ||
| Maybe I'll just head to Brazil and get it up there. | ||
| Fine. | ||
| Okay. | ||
| I know you're on the road. | ||
| We'll track you down later. | ||
| Steve Cortes is going to join us at five to go through capital markets, try to get Tiramond back too. | ||
| Very important. | ||
| Let me go to Darren Beattie. | ||
| Darren, give me your take on Brazil. | ||
| You follow the situation as close as anybody. | ||
| Give me your take as we sit here this morning before we talk about the great analysis you've got on Kerry Lake. | ||
| Well, I think Tiramond's analysis is pretty much sound. | ||
| It's an outrageous thing that's going on there, and I think they really need to push back on The evident fraud that's occurred, and they need robust and relentless leadership on the part of Bolsonaro. | ||
| And so I hope they get it. | ||
| One interesting thing, though, is you see a lot of the same dynamics, a lot of the same information suppression techniques. | ||
| There's a report by an organization called Foundation for Freedom Online showing how big tech was censoring text messages in platforms like WhatsApp so people wouldn't be able to spread political memes that would be in support of Bolsonaro. So there's the full range of measures that we see here, plus some, in order to not only directly affect the election and manipulate it, but to | ||
| manipulate it in the broader sort of contextual and arguably more meaningful sense of controlling information flows leading up to the And that's a very dangerous thing. | ||
| And one last point I'd like to make about sort of the larger political dynamics and sort of the interplay between domestic and foreign policy. | ||
| I do think it's interesting that On certain dimensions, Lula, one would think that the United States regime, what I call the globalist American empire, would actually be more threatened by Lula, just based on superficial things that he's telegraphed. | ||
| For instance, he's sort of adjacent to that sort of Assange, critic of national security state, proud... Yeah, but it's the cultural thing. | ||
| They so fear... Exactly. | ||
| That's my point. | ||
| That's my point. | ||
| Is that the culture war predominates everywhere. | ||
| And there's this sort of pseudo-sophisticated point that people make saying, oh, the culture wars are just a distraction. | ||
| They're not a distraction. | ||
| They determine everything and Bolsonaro proves it. | ||
| Okay, hang on for a second. | ||
| We have a deep analysis by Darren Beattie. | ||
|
unidentified
|
We're gonna take a short commercial break. | |
| Be back in a moment. | ||
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| Okay, welcome back. | ||
| And by the way, everybody get up on Getter. | ||
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| It's a way for you to participate. | ||
| We also have now Vox Populi, where you can come on and tell us about your experience. | ||
| We need everybody to sign up, put their shoulder. | ||
| Well, everybody in this audience has to do something. | ||
| Either get out the vote or something about securing the vote. | ||
| And we're going to have a lot more. | ||
| We got Sonny Borelli up at 11 and others talking about securing the vote. | ||
| I want to go to Joe Crouch. | ||
| By the way, Darren B's going to drop. | ||
| He's got to drop. | ||
| He's going to join us at the bottom of the 11 o'clock hour. | ||
| Got a big thing I want to do with him, a big analysis piece we got to go through. | ||
| Joe Crouch from iTarget. | ||
| I want to make sure everybody, because money, you think money's tight now? | ||
| You ain't seen nothing yet. | ||
| Money's about to get real tight. | ||
| Okay? | ||
| And the Fed told you that yesterday. | ||
| Increased interest rates are going to take out liquidity out of the market. | ||
| Things are going to get quite tough. | ||
| And by next summer, we're going to be in the middle of it. | ||
| Joe, tell me why iTarget and what you've set up is a way that people can become increasingly proficient in the safe use of firearms and the teaching how to use firearms at the same time have a dramatic cut in cost, sir. | ||
|
unidentified
|
Yeah, so this is our different systems that we have. | |
| We have the iTarget Pro system and the iTarget Cube system. | ||
| And all those, both systems use a laser bullet, which goes into your actual firearm. | ||
| The firing pin hits the back of it. | ||
| And it shoots a laser instead of ammo. | ||
| So you can safely train or you can teach others how to use a weapon. | ||
| And you'll train more often because it's fun to do and you don't have to go to the gun range and spend money at a gun range or waste money on ammo. | ||
| So it goes into your actual real gun. | ||
| It just slips down into the chamber and the laser's in there. | ||
| And how it works is on the iTarget Pro system, you download our app and it uses the phone's camera to look at the target. | ||
| And let me give you a close-up of the phone here. | ||
| So as I shoot at the target, you can see on the app exactly where the shots are hitting. | ||
| So here's the thing. | ||
| Here's the thing. | ||
| I want to hang on. | ||
| Here's the thing. | ||
| I want to press to the audience. | ||
| Use of firearms is like in sports. | ||
| It's repetitions, shooting free throws, practicing volleyball, doing your golf swing, practicing putting, riding a horse. | ||
| It's repetitions. | ||
| Remember that Malcolm Gladwell, the 10,000 was a 10,000 hours of doing something. | ||
|
unidentified
|
It's almost like diminishing a skill. | |
| If you don't practice it all the time, then you lose it. | ||
| Well, particularly people just learning about firearms. | ||
| Women, young people. | ||
| This is a fabulous way. | ||
| The reason we're so proud to have you as a sponsor and to work with you guys. | ||
| There's not a better way to get somebody to learn, to teach gun safety in the rudimentary Of course, a reverse is not a problem, too. | ||
| You can do it. | ||
| There's all types of different things to the target. | ||
| But for everybody now that is just learning to use firearms, getting firearms, there's not a better, more efficient way or safe way to do this. | ||
| You agree with that, Joe? | ||
|
unidentified
|
Oh, totally. | |
| It's 100% safe. | ||
| There's no way you can have an accidental discharge when you got a laser inside the gun. | ||
| So you can say, I invented it when I taught my wife how to shoot. | ||
| And you know, she was scared to touch the gun and it makes me nervous to want to teach her at a gun range when she's nervous holding the gun. | ||
| So you can do all the fundamental training at home and it's still good to go to the gun range to experience what it's actually like to have the recoil and everything. | ||
| But that's a secondary aspect of actually training. | ||
| You know, it's sight alignment, it's trigger control, it's holding a good grip on the gun. | ||
| All these things factor into your accuracy. | ||
| And so we've recently come out with the iTarget Cubes, and those are a little more advanced as far as somebody that's a little more skilled, because they're a smaller target. | ||
| And you can place them anywhere throughout your home. | ||
| And with those, you would use the app. | ||
| And on the app you can, like, if I do a sequential go here, I don't know if you can see the cubes down at the bottom of the screen. | ||
| 1.87, 0.40, 0.28. | ||
| So it tells you exactly how fast you're able to shoot each cube. | ||
| And if you wanted to do something where you were practicing like a clearing drill, like going through your house and clearing rooms or competing with friends, you could both have a gun and you could do a clearing drill. | ||
| So all the cubes beep at once and now you can shoot them in any order. | ||
| And it tells you exactly how fast you were able to shoot each one. | ||
| So how do people get access to this? | ||
| And if they have questions, where do they go? | ||
| Because we'd like to provide information to the audience. | ||
| And we know with My Patriot Supply and Birch Gold, the more they have contact and build relationships, the easier it is for people to get involved and actually start to purchase this. | ||
| So how do people get access to this, find out everything about it? | ||
| And then if they have questions, where do they go? | ||
|
unidentified
|
Yes, well, most questions are answered on our website. | |
| There's informative videos there at www.itargetpro.com. | ||
| And they can order from there. | ||
| They can email us from there if they have any questions. | ||
| And we also are running a 10% discount with the code Bannon. | ||
| So if they purchase it with your code, they'll save 10%. | ||
| The cubes are nice because they're very portable and you can put them in different places. | ||
| So I've been working on a prototype for the San Francisco Liberal. | ||
| What we have here is, you know, if someone breaks through your security and their underwear and comes into your house and they only have a hammer, Well, now, you know, they can move it around. | ||
| We're the only show in the world that the sponsors are trolls, too. | ||
| You've got to be a troll to be a sponsor. | ||
| God, I knew you were going to go there. | ||
| I didn't want to say that that's another level. | ||
| But if you have $250 million, you'd think he would have some own security. | ||
| That's a topic for another day. | ||
| How do people, first off, you've got the entry level where you can learn to use the weapon, the firearm, you can teach young people, and then you've got the more sophisticated, obviously, for people that want to go through drills or whatever. | ||
| Once again, tell people where they go, Joe. | ||
|
unidentified
|
Yeah, it's on our website, itargetpro.com. | |
| It's the letter I, targetpro.com. | ||
| And again, use the code BANNON to save 10%, and I would suggest Christmas is coming up, and we get really, really busy as it gets closer into December, so I would suggest ordering now. | ||
| I wouldn't wait until Christmas. | ||
| I would get on this now. | ||
| This would be something people ought to be doing over the Thanksgiving holidays. | ||
| Seriously. | ||
| This would be a great time. | ||
| I think I'd get on top of this now. | ||
| An early Christmas present. | ||
| A family effort. | ||
|
unidentified
|
Hey, you can start saving on AMA right away. | |
| Big time. | ||
| Joe, thank you very much. | ||
| Love you guys, and a great system you've created. | ||
| Very creative guy. | ||
| Joe Crouch. | ||
| Thank you, brother. | ||
|
unidentified
|
We're going to talk about more of these, the sponsors, and particularly with the rising cost of everything, about how they can help, how they can assist. | |
| Tudor Dixon, next, in the Ward. |
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