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March 18, 2023 - Bannon's War Room
48:24
Episode 2596: We Fell Into A Ring Of Fire
Participants
Main voices
s
steve bannon
36:47
Appearances
b
bradley thayer
02:02
p
peter navarro
03:00
Clips
j
jake tapper
00:10
| Copy link to current segment

Speaker Time Text
steve bannon ▲ ● ▼
This is the primal scream of a dying regime.
unidentified
Pray for our enemies, because we're going medieval on these people.
steve bannon ▲ ● ▼
I got a free shot at all these networks lying about the people.
The people have had a belly full of it.
I know you don't like hearing that.
I know you try to do everything in the world to stop that, but you're not going to stop it.
It's going to happen.
jake tapper ▲ ● ▼
And where do people like that go to share the big line?
MAGA Media. I wish in my soul, I wish that any of these people had a conscience.
unidentified
Ask yourself, what is my task and what is my purpose?
steve bannon ▲ ● ▼
If that answer is to save my country, this country will be saved.
unidentified
War Room. Here's your host, Stephen K. Bamm.
Love is a burning thing. It makes a firing ring.
Bound by wild desire.
I fell into a ring of fire Oh, I fell into a burning ring of fire.
I went down, down, down, and the flames went higher.
And it burns, burns, burns The ring of fire The ring of fire
Ooh, ooh, ooh Oh, I fell into a burning ring of fire
I went down, down, down, and the flames went higher.
And it burns, burns, burns The ring of fire The ring of fire Hey welcome, it's Saturday, 18 March in the year of our Lord 2023.
steve bannon ▲ ● ▼
And we're in the ring of fire now.
We are in the ring of fire now.
Those who are familiar with one of the great works of the Western canon, Dante's Inferno, you just keep going down and down and down, ring after ring, until you get to the bottom of the pit of hell.
I would like to be able to say that we could stop this and go in a different direction.
It's too late for that. We're in it now.
We're in it. You have a rampaging fire.
Throughout the world in the world's financial system.
And you also have an increasing kinetic conflict in the Eurasian landmass, particularly in Ukraine, where Zelensky has determined he's not going to give up Bakhmut.
And quite frankly, I think right now from his strategic position, it's probably smart to do, but they're having a World War I type slugfest right there at the city, this town of Bakhmut that not only has a couple thousand people left in it, She is en route to Russia to have this summit meeting where they're going to really, it's like the Ribbentrop-Molotov meeting in 1939, although I'd said that that really happened during the Olympics because these two have been working together.
So the convergence of what I talked about at CPAC, the convergence of the The world's geopolitical and military crisis that would converge with this financial crisis is upon us now.
We're not going to pull out of this easy.
This is going to take a long time.
Even when Trump gets back in office, it's not going to be easy to turn this thing around.
We're now into decades of this.
The reason I played Ring of Fire there, and we're doing covers from people, I think, under 30 or 35 years old.
You know, most of whom I think overwhelmingly are, you know, I don't know, 55, 45.
I have to look at the numbers and parse them when you look at all the population.
Support Biden and the Biden regime and what they're doing.
You voted for it, baby.
You got it. And you're gonna be, and I've said this for years, but you're gonna be nothing but Russian serfs.
You're not gonna own anything, and what you own is not gonna be worth anything.
The financial crisis, when I talk about that, you've got to remember Switzerland has always been like the prime bankers of the world.
This is where all the guys in Sub-Saharan Africa and the Gulf Emirates and the Chinese Communist Party and people in the United States have numbered bank accounts, always put their money in Switzerland because the Swiss bankers are so prudent and so smart.
It was the reason it was left as a neutral country, even by the Nazis in World War II. So you could pass money through there.
The whole world could pass money through there, launder money through there.
But they're very smart. Today, you have Credit Suisse and UBS, the two biggest, most prominent banks in Switzerland, being hammered together.
And UBS just announced if they're to do this deal, they demand that the Swiss National Bank, that's the Central Bank of Switzerland, their Federal Reserve, has to come in and backstop it.
Long story short, they've nationalized the banks in Switzerland, okay?
And I want to make sure everybody understands this.
They've nationalized the banking system here in the United States except for the part, and that means you under-raise a taxpayer, but they got a special hinky deal here.
You, MAGA, the deplorables, working class people, the wage earners, what I call wage earners, the wage earners, and I don't care if you make $250,000, $300,000 a year, you're a wage earner.
Wage earners are going to underwrite this.
I want to be very specific about Silicon Valley Bank as things have come out, and I want to break this deal down to you to understand how you've been screwed, okay?
It turns out that, remember, all $40 billion, $40 billion in one day went out, right?
And this is these venture capitalists who got on a call and knew material, non-public information.
Remember that phrase, material, non-public information.
This was not put out in a press release, not put out to the world.
They got on, they heard rumors, they had talks, they had this call with the CEO, but they had already made their decision.
$40 billion went out, all their money.
They got all their money out, right?
$40 billion, $42 billion.
That was the run of the bank on that Thursday.
Then they came out later and said, hey, everybody, get their money out.
And the bank collapsed the next day.
I want to walk through reporting that's happened since then.
I remember Biden came in immediately and guaranteed the deposit.
They took their deposits out.
Took their money out.
I'm not so sure how much he's even gotten back in.
They took their cash out.
Goldman Sachs, so you had two things in this bank.
You had loans that they loan out.
That's their assets. Loans are assets.
It's kind of weird accounting or terms, but the loans are assets.
The deposits are liabilities.
Goldman Sachs came in and who was their financial advisor, I think, to sell the company.
So this is kind of odd how this happens because normally in the old Goldman Sachs you would separate these out and you would have a conflict so you couldn't do it.
But Goldman, it's been reported, made $100 million in the trade of the loan package.
Okay, they'll trade the loan package.
Financial Times are reporting today one of the biggest distressed debt guys.
There's $3.2 billion, I think it is, face amount of bonds.
This is bonds that they sell to help capitalize the company along with preferred stock and common equity.
David Tepper, who's a renowned distressed securities guy.
I think the bonds traded down to 40 cents on the dollar, maybe even lower than that.
He's buying the bonds at 40 cents knowing that the government, with your backing, is going to buy these things back at par.
He's going to make a fortune.
He's going to make a billion dollars.
So you've got Goldman made $100 million on one trade.
You've got with the loans. You've got the guy on the debt side, on the bond side.
He's going to make a ton of money in distress.
I've done a lot of distressed debt, trust me.
He walked right in because he sees the suckers that are going to back this thing up.
The venture capitalists got all their cash out and then wind all weekend.
Payroll is not going to be made.
They have plenty of money. They could have given credit lines for operations or payroll.
These companies are not huge companies.
They're startups. So Goldman makes $100 million on the loan package.
David Tepper, a multi-billionaire, has bought the distressed debt.
He's going to make billions, right?
The venture capitalists sucked $40 billion of the deposits out to protect their money and then get Biden to come in.
And you've underwritten this entire thing.
You've underwritten this entire thing.
Because bank fees are going to come to you through the FDIC. You've underwritten the entire thing.
You, out there.
I want you to get really mad about this.
Nobody's explained to you like that.
That's the deal.
It finally was able to deconstruct it last night.
That's the deal. That's the deal, right?
That's the deal. You get left holding.
You get left backstopping deposits of all these people that de-platformed you, de-banked you, that hate your guts and hate everything you stand for.
You step up in the venture capitalists who hate you, right?
Not just the little founders and the companies who all hate you.
They made out like bandits.
They didn't have to put in credit lines for their companies.
They put the deposits back in and got the bank to do it because the government backstopping.
And just to rub salt in your wound because I want to rub salt in it because I want you to get mad and I want you to get angry because I want you to sit there all weekend and just think about when you hear all this happy talking, spinning around, everything like that, why nobody in the Republican Party has stood up and called this out immediately.
Janet Yellen, and we can play that clip later, Janet Yellen went in front of the, you know, you had Senator Langford, and she just said, the only ones we're going to guarantee are the ones that create systemic risk.
In other words, the insiders, the big guys.
Now, I happen to think they've given an implicit, they've given an implicit put, implicit, you know, backing bailout of all of it, all $19 trillion with your money.
Please remember, this is all your money.
So they literally screwed you to your face on SBV. And Goldman Sachs is laughing at you, and David Tepper is going to laugh at you, and the venture capitalist is going to laugh at you.
unidentified
They ought to laugh. You ought to laugh.
steve bannon ▲ ● ▼
You only had one person who was ever in the room for you, Donald Trump.
Donald Trump was in the room for you.
He was in the room. He could figure this out in two minutes and say, we're not going to do that.
That's not going to happen.
And Biden walks out with that three minutes.
You haven't seen Biden talk about this deal since then?
They put Yellen out there and put her out again.
She's a disaster. To make sure you understand how bad it is, too, is that, and what they're lying and hiding to you, the discount window at the Fed, which is just, you know, your money, you're backing it up.
They had $168 billion, and I think as much as $300 billion.
This week to go to these banks because the banks are insolvent.
Let's go back to SVB. This is very important that you understand.
And please, it has nothing to do with them being woke.
That's the cultural thing they are.
And by the way, they had all kind of incompetence and mistakes and ridiculous.
But the regulators and the insiders knew it had a leverage of 185 to 1.
The bank should be a leverage 4 or 5 to 1.
An investment bank maybe 8 to 1.
During Lehman Brothers and Bear Stearns, the banks were hedge funds.
This bank's a clubhouse, a country club, a fraternity, a sorority with giving each other special deals, under market loans for mortgages, margin accounts, you can buy stock, buy more stock.
But the venture capitalists never want to put anything in because they don't want dilution.
The management doesn't want dilution.
They want your money to back it up.
But understand that we say this massive drawdown of the Fed of cash of $160 to $300 billion is because the banks they're taking are insolvent.
Wall Street Journal is reporting there's 186 banks on a watch list that are just like, you know, this report is that they feel there's 186 banks like Silicon Valley Bank.
Silicon Valley Bank, I want you all to understand this, was insolvent last year, probably the third or fourth quarter, and people should have known that.
Management should have known that.
They traded around the stock.
They did a lot of things, made commitments.
This bank was insolvent a long time ago.
Insolvent. The banking system in the United States is insolvent.
Why do I know that? The Feds opened the discount window.
It's rushing liquidity.
These are numbers that weren't seen even in 2008.
Remember, the reason Goldman Sachs was even saved, they made him a bank holding company with one line in the paper signed by Paulson.
Bank whole income, they could draw down $5 billion on that Monday when they opened.
Otherwise, they'd been bankrupt. That $5 billion staved off bankruptcy.
Oh, by the way, too, the headline in the Financial Times, on top of it, the bank stocks lost last week a half a trillion dollars.
Your 401ks, your 401ks, all of it, Lost a half a trillion dollars in bank stocks.
Half a trillion. And the bonds, I think, even worse.
I think a trillion dollars in bond losses for the trade in that.
You know, we've done this with Birch Gold.
What we've done with Birch Gold is to write this series of reports.
The third one's out called The Debt Trap in the End of the Dollar Empire.
It's a must-read. I say that as humbly as I can say.
It's prescient, as prescient as my CPAC speech, but this you've got to read.
Also, Gunlich, the number one bond guy in the world, said yesterday, and I'll get into more in the next thing, he said, the Fed is out of money.
It's out of money. The Fed doesn't have any more money.
Everything they're printing now is just dollars that you're going to redeem.
The full faith and credit, and I keep talking about that, that's you.
So right now, you owe it to yourself.
Here's what you must do. You must go get information.
You gotta go to birchgold.com slash bandit and just get the free info kits.
Get all my free. I've got a three-part series now on the dollar, the debt ceiling, the prime reserve currency, all over.
We're gonna get into this. But you need to immerse yourself.
This weekend, this is not a holiday weekend.
This is a work weekend. You have work to do.
And I haven't even gotten into the brightest news of the day.
President Trump tweets out he's gonna be arrested on Tuesday.
Going to be arrested on Tuesday.
Did I say we were into it now?
That we're at the first circle of hell?
There's no turning back.
The financial crisis and the convergence of the global political kinetic war crisis is now upon us.
unidentified
We're gonna break it all down for you. So you're the smartest person in the room in the war room Love is a burning thing And it makes a fiery ring Bound by wild desire
I Fell into a ring of fire I fell into a burning ring of fire went down down, down And the flames went higher And it burns, burns, burns The ring of fire The ring of fire Okay, welcome back.
steve bannon ▲ ● ▼
You know, I think I see this with a quite sharp clarity if you've watched this show for the last couple of years.
And there's no going back now.
We're in it. I said CPAC. The storm's here.
And the storm is here.
And we're in it. And even leave aside the Donald Trump situation, right?
And he's the one guy that gave you peace and prosperity.
He's the one guy who can give us peace and prosperity back, at least for a while.
But if you think he had a heavy lift in 17 when he came in, the lift now is going to be 10x harder.
10x harder. If you look at what's happened in this country, and here's the thing.
If people had acted like adults over the last 10 days, If they hadn't put forward a $6.8 trillion budget, if they had not this arrogance of just thinking, you know, Gun Launch is a serious guy.
In fact, I think I got his, the story in Zero Hedge up on my getter.
If not, I'll put up right afterwards.
He just said, hey, the Fed's out of money.
I'm looking at gold.
And, you know, this thing's the biggest disaster I've ever seen.
Because remember, the mechanism we've had for years, the Fed just printing money, monetizing debt, that game's over.
I tell you, Steve Bannon didn't tell you it was over.
Ron Paul didn't tell you it was over.
Rand Paul didn't tell you it was over.
Peter Navarro didn't tell you. Dave Brat, that magnificent thing of Dave Brat last night.
Who told it was over?
I tell you it told it was over.
The mullahs in Persia and Tehran and the House of Saud are great allies in Riyadh.
The deal they cut in Beijing, and they're going to do these 40-year output deals In Chinese yuan, not dollars, not petrodollars.
That tells you how much they think.
They understand where the math is.
These are not dumb people.
The people, all the guys at the senior levels all went to Harvard and Yale and all these places.
They got plenty of smart people.
Plenty of London School of Economics.
They got plenty of smart people. They can do math, okay?
And they can just do the math.
As I've been telling you, the math doesn't work.
Doesn't work. They just see that.
They see that we're going to crash, not just crash this economy, crash the banking system.
But we're crashing the currency.
That's why I did this with Birch Gold over the last year, and I'm so proud with the Birch Gold guys.
We thought of this a couple of years ago.
I think the first one came out after we worked on it in the spring of last year.
Maybe even the early winter, spring.
The end of the dollar empire.
Pretty good call, Bannon.
End of the dollar empire.
I said, it's just like Brits after the war.
The British, the pound for, you know, since Napoleon, since Napoleon was defeated.
Had been the world's currency.
He had all that pax, that hundred years of World War I, of peace, relative peace and prosperity.
Right? With the pound.
Then you had the charnel house of World War I and World War II. They were gone.
We stepped up. Brenton Woods.
Gone. Gonna be gone.
Definitely gonna be gone. And it's gonna have a massive impact.
Massive impact. And the people, the Global South, You notice the Global South, you hear this yammering on NBC and CMBC every night.
Oh, they brought the alliance together, brought the alliance together.
That's all the elites in Davos and Western Europe, in Boston, New York, in the Acela Corridor.
They're cheering this thing on.
All white, all of them white.
Most of them don't have kids, right?
Hey, I'm just saying it like it is.
Right? Don't really believe the underlying values of the Judeo-Christian West, although if they were born Christian or baptized Catholic or if they were born Jewish, they don't believe the underlying tenets of it.
They don't.
And that's the Global South.
South Africa is doing naval exercises with the Russians and the Chinese.
The Persians are off the coast of Brazil, where you got Lula.
The Global South is voting every day.
You know what they're thinking? By the way, every country, Sub-Saharan Africa, Asia, Latin America, they all have very smart people running it.
They all went to the best schools in the world.
They all went to the best schools in the world.
Smart people. They can do the math.
They go, we own the commodities and the foreign devils have this paper currency called a dollar.
So I got Peter Navarro. By the way, I want you to go to Birch Gold today.
You have a homework assignment.
First off, get all three of the installments totally free.
Birchgold.com slash Bannon.
Get all three episodes, all three installments, and read them.
Read them. Even if you don't understand them, just read them, take notes, and every day we're going to get into this because this is about your life.
And then also get the free info kits on the 401ks, the IRAs, all their different services and products.
Just get it. Immerse yourself in And, of course, Philip Patrick and the guys are there if you want to call him.
Dr. Peter Navarro, my man, your thoughts, and we're in it now, brother.
We're in it. Give me your thoughts and observations.
peter navarro ▲ ● ▼
Well, let's start with Donald Trump.
Let me tell you first who on Tuesday will not be arrested.
The Tony Fauci responsible for killing millions of people around the world.
And Hunter Biden, arguably the worst treasonous person who sold us out to the Communist Chinese and the Ukrainians.
The perpetrators of the Russia hoax, Comey, Clapper, Page, Strzok, and those clowns.
And meanwhile, if you had told me, Steve, when you and I were sitting on the eve of the election at Trump Tower in 2016, That every one of us who was a Trump loyalist was going to be tried to put in prison and or subpoenaed by grand juries.
I would have told you, what are you smoking?
steve bannon ▲ ● ▼
Hang on. Hang on. Hang on. We've got to move.
I've got to get through this. By the way, I know President Trump put out a tweet this morning.
I want everybody out there to take a deep breath.
Elon Musk tweeted out today, if they arrest President Trump, he wins in a landslide.
I say if the arresting wins primary that day and wins in a landslide.
But we've got to be very focused and very mature.
The country is collapsing in front of us.
And that is even without the Trump situation.
Right now, this is my point.
That's why the show today, the next hour I got Dave Walsh coming on Energy.
I've got Colonel Mills who's going to actually give a presentation on how the Chinese Communist Party would take the chip factories in Taiwan.
We've got to be serious.
This audience, you're head of the creditors committee.
Don't get me wrong. We're not going to back down on this thing one-inch.
But we've got to play our cards smart here.
Very smart. This is about the country right now.
You've got to take the emotion out of it.
I'm a wild, you know, a wild, screaming Irishman, right?
But we've got to be tough.
No, real quickly, before I get to the thing, because I've got a lot to get to.
Hang on, Peter. I'm robbing the string.
48 hours. 48 hours after you won.
On the Thursday, we won.
Tuesday night was the election.
We won Wednesday morning at 2.30 in the morning.
On Thursday evening at 11 o'clock, I had a call from Alexander Priet.
Somebody had to see me. A senior partner at one of the most prominent white shoe law firms in the country came to my office in Trump Tower while I was running the transition.
11 o'clock, we're still working.
Came in, said, I need 10 minutes of your time.
Never met the guy in my life. He said, I followed you.
My wife knows you. I followed you.
I love your work. He says, I want to become your lawyer right now.
I go, why do I need a lawyer for this?
He told me, Peter, He said, all of you guys, including Trump, will eventually, eventually, they're coming after you hard.
You will eventually all be arrested and you will all be in jail.
He said it right then to my face.
I said, come on, get out of here.
And this guy is a super white shoe law firm.
Said it right there. He said, they will not let this stand.
They will not let this stand.
They've been coming for us. You can see on the thing that they did in the FBI back then.
They've been coming for us. And here, I got a message for all of them.
We are not backing down one inch, and we're going to win.
We're winning right now.
That's where they're coming after. That's where we're using lawfare, because we're winning.
And here's the other thing. You don't have anything to offer, because you're destroying the country.
The banking system is insolvent, and you've got the Federal Reserve.
It's not Steve Bannon saying they have no money.
It's Gunlich. Look at his math.
The Federal Reserve has no money.
None. Okay?
None. You're just printing paper right now.
And you're infusing this banking system as fast as you can put it in, like throwing it into a coal fire in an old ship.
$168 billion, so $300 billion in one week.
Quantitative easing, that's what it is.
You're trying to expand the credit base.
Because these banks are insolvent.
You have 186 banks reported by The Economist in the Wall Street Journal.
Not Steve Bannon saying. There's 186 banks basically in the same shape of Silicon Valley Bank.
And it's not the wokeness.
It's the deposits, the hot money deposits plus the unrealized losses which you keep lying about.
You say there's $620 billion of losses, of unrealized losses in these portfolios that the teppers of the world are going to buy.
The analysis shows there's over $2 trillion.
You've blown a hole through this whole thing.
And you have Janet Yellen up there like your crazy Aunt Daisy.
Can't even answer the questions.
And you have Biden. Look who's doing this.
Everything they tell you is a lie.
And every day you find out more information.
Did anybody explain to you the deal?
Who made money off this deal?
Think about it. Did anybody on any TV? Was Fox Business sitting there talking about this?
Was CNBC talking about this?
They talk about the $100 million going main the trade.
That's a print in the New York Times.
They talk about the Financial Times of London today.
David Tepper, he's buying the bonds for 30 cents on the dollar.
Going to make out like a bandit.
They talk about the venture capital suck $40 billion in one day, one day out of a bank to get their money and then sit there and whine and cry like babies all weekend.
That, oh, these companies, these great companies, the innovation is going to make it.
It's their companies. Give them a credit line.
It's not a big deal. Get a credit line.
Hey, you can pay. You got 10 guys at the company.
Make payroll. Pay operations.
Pay the rent. Buy some frescas for the refrigerator.
You're being screwed every freaking day.
Understand that. You, this audience.
You're being screwed.
The hardest working, best people in the world.
What I've been telling you for years, you're the full faith and credit of the United States.
Those aren't just words.
It's you. You're the one that makes the money good.
Don't believe me? Who backed up the deposits?
Oh, the FDIC banking fees.
The FDIC, by the way, just to make a thing, they only have $100 billion in their whole account.
And most of that's in government securities.
I'm sure that's down 50%, 60%.
You're going to make it up?
Okay, short commercial break.
unidentified
We're jammed up already. I got Bradley Thayer.
steve bannon ▲ ● ▼
I got Peter Navarro, Rebecca Koffler.
We're going to try to get it all in.
Short break. Back in a moment.
unidentified
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 there's no more.
steve bannon ▲ ● ▼
Let's take down the CCP. Love is a burning thing And it makes a fiery rain Bound by wild desire I fell into a ring of fire Okay welcome back Our Polish allies in Slovakia has committed to giving MiG-29s to Ukraine and the Ukrainians.
And Zelensky, look, as you folks know, I'm no Zelensky fan, but, man, he made a tough call, and he's sticking with it.
He's holding Bakhmut strategically, and, you know, the Wagner Group, or whatever they call themselves, and other sets of mercenaries, they can't close the deal there.
That is a classic.
That's the most important and biggest battle of the 21st century, bar none.
And the Ukrainians are giving as good as they get.
And I'm telling you, it's a quite heroic stand.
She's saying, hey, we've got to have a ceasefire, sit down.
Biden has already said no ceasefire.
They're not even letting Zelensky answer here.
Biden administration says, nah, I'm not going to do a ceasefire.
Let's kill some more Ukrainians.
How many more Ukrainian civilians can we throw into the charnel house?
Look at that. We're in the first circle of hell right now.
You ain't seen nothing yet.
You have no earthly idea of the scale this is going to be.
The Swiss have nationalized their banking system today.
They've had, I call it their Lehman moment this weekend.
That's their Lehman moment. And you've got a Federal Reserve.
And I told people down in Orlando, if the Republicans don't step to a microphone, the Republican Party should explain this deal, should have come to the McHenry, the Finance Committee, should have had enough balls and smarts to walk to a microphone on Thursday and explain this deal.
Goldman makes $100 million on the loans.
David Tepper is going to make a billion dollars on the bonds.
The venture capitalists sucked $40 billion out of it and then whined.
Didn't put any money back in.
No credit lines for companies.
You came in and backstopped all the deposits.
The community banks, which Yellen tells you on Wednesday or Thursday, it's only if the bank can cause systemic risk.
That ain't the community banks out in Oklahoma.
That credit's gonna all dry up.
Every person got a small business or an entrepreneur, go hug your banker this weekend.
Go buy him a cup of coffee. Hug him.
Keep close to him. Because that's been your lifeline.
Hey, the credit's gonna dry up rapidly.
Peter Navarro, talk to me about it.
Give me a couple of minutes on this. I know you get a punch.
peter navarro ▲ ● ▼
Steve, an inflationary bomb on steroids, a neutron bomb of expansionary monetary policy.
That's what's going on at the Fed's discount window.
We had $158 billion go out that window in a single week.
That's $40 billion higher than the highest week in the 2008 crash.
Here's what you got to know.
The discount window is just that.
It's like a pawn shop for banks, right?
They come in and they bring collateral, and the Fed typically gives them less money than the collateral's worth in case they default, right?
And that gives them incentive not to default.
steve bannon ▲ ● ▼
But hold it. But hold it.
But hold it. But hold it.
unidentified
Yeah, they're giving the government securities.
peter navarro ▲ ● ▼
Yes, that's the point.
They come in now, and what they're doing is giving these bonds, which are worth much less than par, And they're just giving them to the Fed.
The Fed's giving them full value.
Okay? Full value.
It's pretend. And the moral hazard here is that every bank in America has the incentive to go in and take as much money out, no matter how good or bad their bonds are.
Big time. And, Steve, what it's doing effectively is adding...
These bonds to the balance sheet of the Fed, which is expansionary and inflationary, it's a neutron bond.
steve bannon ▲ ● ▼
You won't hear that on CNBC. The American Recovery Act, because we already had aggregate demand back, the massive spending and all the bills they passed, and we sat here and yelled and screamed about them, and the Collaboration Republic and the Senate helped them.
All of that. That's spending.
In the way it was financed by the Fed printing money.
So that led to the inflation, the dumpster fire, the inferno of inflation that led to the Biden bonds.
The bonds are these government securities that, remember when Trump, it was 0.086.
So people bought those bonds when the interest rates were low.
As the interest rates jacked because the Fed had to do it to try to starve off inflation, the bonds dropped massively in value.
They say $600 billion of unrealized losses.
I think there's $2 trillion.
Okay? Now, Silicon Valley Bank had $17 billion and it blew a hole in their balance sheet.
They never recovered. That's why all the depositors, one, wanted to get higher returns other places, but also saw this bank was going down.
Now you've got this other scam this week.
This is so important what Peter Navarro just told you.
And we're trying to make it as basic as possible.
So you must understand the way the system works because the system is screwing you every day.
And if you sit there and tolerate it, if you let your representatives tolerate it, you deserve to get rolled over.
Just like the people under 35 that voted for Biden, you're going to get everything you voted for, baby.
Just embrace it. You talk a big game, hey, go live the big game.
Go live big. You're going to have two or three decades with under 2 % growth, 1.5 % growth.
It's going to be like Japan. You're going to have lost decades, and under 35, you're going to have a couple of lost generations.
Sorry. Just doing some simple math.
What they're doing at the Fed right now, to Peter's point, is they walk in, hey, what clatter you got for this?
Oh, I got all these government bonds that are trading at 30 cents on the dollar.
What's David Tepper buying these things for?
They're trading at 30 cents on the dollar.
30 cents on the dollar. Okay.
Okay. Okay, I got it.
We'll give you par value.
Why are they infusing the system and doing this phony thing to infuse the system with cash as much as possible?
The banks are insolvent.
The banks are insolvent.
I'm not trying to initiate a bank run.
I'm trying to talk about reality because nobody will talk reality to you.
Silicon Valley Bank was insolvent in the third or fourth quarter of last year, and the regulators either didn't know it, too dumb to understand it, or look the other way.
Or look the other way.
Peter Navarro, I got a punch, but you'll be up on Getter with me over the weekend, and we're going to have you back here Monday morning at 10, because I'm sure there's going to be a fiasco.
The Lehman moment's happening in Zurich right now, even as we speak.
They're jamming to the oldest.
Credit Suisse is, what, 200 years old?
It was there during the Napoleonic War.
This bank is getting merged this weekend.
Why? Because they have to. Basically, the Swiss National Bank is taking over the banking system.
That's what's happening. Peter, any other closing thoughts of wisdom?
peter navarro ▲ ● ▼
Yeah, the key point here, Steve, is that the expansionary effects of this discount window pawn shop movement We're going to dwarf any rate hikes.
So effectively, what we're doing is we're expanding monetary policy into a wave of inflation.
Check out the substack, peternavarro.substack.com.
steve bannon ▲ ● ▼
I've covered this this weekend.
Hang on. You get me going again.
Remember quantitative easing?
It tightened the $9.5 trillion or now $8.4 trillion on the balance sheet of the Fed.
This is quantitative easing on testosterone.
peter navarro ▲ ● ▼
This is discount window full collateralization.
unidentified
There's so many scams going on right now.
So many scams. They're so stupid.
peter navarro ▲ ● ▼
This is the thing.
Donald Trump, in one of his speeches, said this was a politician-made disaster.
There was no reason to do this, Steve.
They used a friggin' atomic bomb when they could have used a rifle to deal with this.
And by the way, SVB, if you want to get me going, never should have been rescued.
Okay? Let them eat cake.
Not us, okay?
steve bannon ▲ ● ▼
Never. It should have gone under.
peter navarro ▲ ● ▼
Not us, Mr.
steve bannon ▲ ● ▼
Manning. They were totally dialed in.
Yes, sir. You were totally plugged in.
Have a good weekend, sir. I'll come back.
Thank you, brother. Appreciate it.
Bye. It's a giant con.
It's a giant scam.
Gunlick said the Fed's broke.
The Fed is broke. It's just printing money right now.
You're the full faith in credit.
You're backing it up. You.
You. Do you have a warrant package?
By the way, when Goldman made $100 million and Tepper's going to make a billion dollars and the hedge funds got their money out so the companies are okay and then you came in, they didn't put in credit lines.
Do you have a warrant package?
Did you get out of the money options?
Did you get, they give you a little preferred stock.
Can you get anything? Check around.
Can you look around your desk right now?
If you're in your car, can you look in your glove compartment?
Do you get anything? Did you get something?
Got a little paper? Got some warrants?
Got a warrant package? Got some options like they get in Silicon Valley?
Got an options package?
How's that options package? You got the same fricking options package you got in 2008, which was nothing.
That's what you got. And the people said, oh, well, you know, but they got like 4%.
Come on. You took all the risks and got nothing.
You have nothing. All they're going to do is devalue the currency, devalue it so you have less than nothing, and you're going to have falling incomes and higher inflation.
So he's at 24 months.
He's going to go to 36 months.
He's going to go to 48 months.
Go to birchgold.com right now.
Get the reports I've done, including the debt trap, the last one.
Also, get all the immersive stuff.
This is a working weekend. Can't take this weekend off.
This is a working weekend. Put the golf clubs back.
Put the tennis rackets up.
Sorry, put the bike away.
Cut the TV off.
Get focused. We got a lot of work to do.
Got a lot of work to save your family.
Got a lot of work to save yourself.
You got a lot of work to save your retirement.
You got a lot of work to save your community and your country.
And if you can't do it, it can't be done.
Let me give you the bad news.
That's why I have everybody watch that movie 12 O'Clock High when Gregory Peck walks in there and says, hey, you're the only thing we got.
And if you can't do it, we might as well find out now.
That's what we got to find out. On top of all that, to add to all this pleasure, the two mortal enemies, the KGB and the CCP, are having a soiree on Monday.
Think about this. They're going to arrest Donald Trump on Tuesday, and she's with Putin on Monday.
How's that set?
The one guy that backed him off.
The one guy that backed him off.
I want you to think about that. The one guy that backed him off by some punk in New York City.
The one guy that backed him off.
Think about that. I want you to embrace that.
Dr. Thayer, tell me about this globalization initiative, and then I want to get your article in the Hill Newspaper is magnificent.
As I have said, we can't play footsie with this anymore.
We must focus on taking down the Chinese Communist Party.
That should be our sole national security and foreign affairs policy should be cutting off capital, technology, the Swiss system.
We have the Biden regime has now created a monster.
Like the Molotov-Rubentrop pack in 1939.
We saw where that went, baby.
We saw where they went. How many kids in Kansas are dead because of that?
How many kids in Louisiana?
New York City and Chicago?
LA? Huh? How many died?
Hmm? How many died in Europe because of that?
There. Give me Xi's civilization project first, then we'll go to break and come back.
How are we going to take down the CCP, sir?
bradley thayer ▲ ● ▼
Sure, Steve. Great to be with you again.
So on Wednesday, the communist leader, Xi Jinping, addressed a group of political leaders, worldwide political leaders, and he advanced a global civilizational initiative.
What's important about this, first of all, is that this is political warfare, and it's a salvo in political warfare.
What Xi Jinping is signaling is that China is going to set the rules of the road Now and in the future.
The 21st century belongs to China, doesn't belong to the United States anymore.
And so this event where he talked about the greatness of civilizations, implicitly, of course, most important with that is Chinese civilization, should be also thought of in terms of other activities that he's taken.
There was the global security initiative, right?
Lots of themes about global, right?
No longer a China focus, but a global focus.
for Xi Jinping because he wants to dominate the world.
The global security initiative is to replace the Munich conference, the annual security conference which is held every winter in Munich.
steve bannon ▲ ● ▼
Doc, hang on for a second.
We're going to come back. He's uniting the global south, the ones that control the commodities and natural resources.
He's saying, are you going to take this Federal Reserve now?
Are you going to take a dollar? Are they going to devalue with you?
Their financial system is collapsing.
unidentified
It's collapsing. Come with us.
steve bannon ▲ ● ▼
Short commercial break.
The early days of the Third World War.
The first ring of Dante's Inferno.
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steve bannon ▲ ● ▼
Okay, make sure you go to MyPillow.com.
You need sleep. I didn't sleep a lot last night because I was working on this show, but you're going to need sleep, and the hours you need and the hours you get, you're going to have to make a great sleep.
MyPillow.com. Promo code WARROOM. Make sure you go get the MyPillow 2.0.
Also, you must do your homework assignment.
Go to birchgold.com slash Bannon.
You get the three-part series, all free.
You also have information kits.
If gun launch is buying...
Okay, if Japan, China, and India are buying gold as fast as they can buy it, and gun launch is saying, hey, I think I'm out of bonds.
The Federal Reserve is going to screw us.
He's in gold. It's time for you to immerse yourself this weekend in information and talk to your significant other.
Hey, what should we do here? Okay?
I'm serious. Look, I know this has been a very serious conversation, right?
I can't have this with everybody.
I can have it with you. You know why?
Because you're the vanguard.
If you can't hold the line, the country's finished.
Done. Let me be blunt.
Done. It'll still exist.
It'll just be something radically different.
Be not afraid.
Okay? We straight on that?
We got that? You got this?
Okay, fine. By the way, I feel great because now you realize it's like the revolution, the Civil War, Great Depression, World War II. It's all on your shoulders.
All on your shoulders.
It's so obvious now it's on your shoulders.
We only got a couple of minutes, Doc.
I'll have you back on Monday. They're meeting in Moscow on Monday.
This article of Thayer, you've got to read.
We must take down the CCP. We cannot coexist with the Chinese Communist Party.
It's impossible. The Chinese people are enslaved.
Lao Beijing's enslaved.
They've taken over a great country with 10,000 years of civilization and a great and noble people.
We cannot allow that to exist.
We have to assist Lao Bai Jing in overthrowing them.
The meetings in Moscow, Dr.
Thea, give me a minute or two on that before we get a punch.
bradley thayer ▲ ● ▼
Sure, Steve. This is a lot like the road to Knossa, just in reverse, right?
So in 1077, the Holy Roman Empire went to see the Pope at Knossa and begged forgiveness.
He was excommunicated because of major disagreements with the Pope and his unwillingness to accept the Pope's authority.
And the Pope forgave him at Kanasa, right?
What are we seeing here? Xi is going to meet essentially Vladimir Putin, his supplicant.
And Vladimir Putin is going to beg forgiveness and the absolution of all of his sins because he needs the Pope.
He needs Xi Jinping to back him in this war.
Putin has put, obviously, Russia in the pocket of China, and he's going to rue the day that he did that.
steve bannon ▲ ● ▼
And Biden forced that merger.
Doc, we've got to go.
Give your social media, and I'm going to put the article out everywhere.
bradley thayer ▲ ● ▼
Where do they go? CenterForSecurityPolicy.org is a great place, and then Bradley Thayer at Getter and Truth.
steve bannon ▲ ● ▼
Okay, brother. I'm going to put it up.
I'm going to put it all up right now.
Dr. Theo's got a piece.
Dr. Theo's got an incredible piece on taking down the Chinese Communist Party, okay?
Okay, what are we doing here?
We got it. Good?
Okay, we got it.
We're going to end with Ring of Fire.
Because we're in the first circle of hell.
Just the first.
Just the first of Dante's.
And it's gonna burn, baby.
Trust me. They're burning through the American financial system, easier to speak.
Just remember this. The system's insolvent.
They made it insolvent.
They made it insolvent.
And this weekend, they're shoveling more cash than they can.
And that's all gonna blow back on you on more inflation.
Remember, inflation is an unfair tax, particularly on the working class and the working poor, okay?
And none of the band-aids they put on there and none of these free giveaway programs make up for it.
No SNAP program will ever make up for what they're destroying of your income.
Because they don't care.
unidentified
We're going to make sure we put up all these artists from Spain.
steve bannon ▲ ● ▼
Grace and Mo, let's get them up in the chat so people can see these great artists doing the covers of Johnny Cass' classic Ring of Fire, because we're in it now.
There's no turning back, but be not afraid.
Take a short commercial break here in a second.
We're going to be back. We're going to break down Matt Boyle's great interview with the Speaker of the House.
Dave Walsh is going to join me about the energy situation and the deal in Tehran and Saudi Arabia that's going to destroy the dollar.
And we're going to talk about the invasion of Taiwan, how the CCP is going to take the chip factories and how we're going to defend them.
Go to birchgold.com slash bannon.
Get all of the writings I've done there.
And get every information kit.
unidentified
It's a work weekend. I'll be up on Getter full-time.
steve bannon ▲ ● ▼
We're going to take a short commercial break.
unidentified
We'll be back for the second hour of the war room.
We'll be back for the second hour of the war room.
Woo-hoo!
The taste of love is sweet when hearts like ours meet.
I fell for you like a child, oh, but the fire went wild.
I fell into a burning ring of fire. I went down, down, down, and the flames, they went higher.
And it burns, burns, burns, the ring of fire, the ring of fire.
Woo!
Down, down, down, into that ring of fire.
Damn, damn, damn.
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