All Episodes
May 1, 2023 - Bannon's War Room
48:52
Episode 2700: The Corruption Of Big Banks; Death Of The American Worker
Participants
Main voices
d
derek harvey
05:09
k
kash patel
05:26
s
steve bannon
18:14
s
steve cortes
14:06
Appearances
Clips
d
donald j trump
00:26
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've tried 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 lie?
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. Vance.
steve bannon
It's Monday, 1 May, 1st of May, Year of the Lord 2023.
Linda Rance joins us from Missouri.
She's one of the folks out there that have actually implemented Same-day paper ballots in the county thereof.
Linda, did The Guardian, because this is a big article for The Guardian, it got a lot of traffic on The Guardian site, and like I said, outside of Daily Mail, it's one of the biggest sites in the world.
It still has no paywall.
They want their content to be ubiquitous.
It's a more progressive paper, far more progressive than The New York Times, biggest progressive platform really in the world.
They took you guys on, head on.
Did the author reach out to you?
Did they ever go through these numbers and this assessment that you did?
unidentified
No, nobody from the paper.
And quite honestly, I presented in Shasta County before they took their vote.
We were invited to show our hand count method.
We presented to the supervisors and the clerk.
And even with this document, this analysis that this article is based on, the clerk After that presentation never reached out to say to even dispute what we said or to say, well, wait a minute.
Let us look at this. So it's important to know when you see these numbers, there's no offset.
They never talk about what would be saved by not using the machines, because definitely there are some costs that will go away, some that will be added.
And that's not in there. Plus, I tried to go through the analysis report.
There are 60 links that are in there that reference the codes and such.
49 of those links don't work.
You can't even get to the information that the clerk was trying to present.
But the most important footnote is number 50, where the clerk had laid out all these different levels of review that had to be done that were going to cost so much money.
And then in the footnote, it says, well, the administrative code doesn't actually say you have to do this.
It just says you have to use common sense.
And so we think that's the way to do it.
So it's like getting any kind of an estimate for your house.
They always pad it with numbers to make it look as bad as possible.
I don't think it will cost that much for them.
I've shown some numbers for it.
Certainly there are some other costs beyond labor.
But no, hand counting will save money.
And if we're going to save our country, then we were replaced by machines and we have to take that back.
We have to replace the machines and people have to step up.
And start hand counting in their own counties.
So many are ready to do it.
Don't be discouraged by these kind of articles, because that's exactly what they're meant to do, is to give those people in charge the ability to say, oh, no, there's an article out that says it's too expensive.
It's not true.
Make them prove it.
Make them prove it. And they don't.
I asked the clerk in Shasta County, how much do you spend on machines?
She said she had the cost.
The supervisors pressed for the cost.
And then she backtracked and said, well, I have a high level idea of the cost.
If you're in Shasta County, demand to know what it costs to use the machines and demand to see the breakdown of what this is going to cost as far as hand counting.
You deserve it. And if it does cost money, why not have the money go back to the people of the county and not to companies and machines?
steve bannon
Linda, last thing.
We're going to figure out a time to get you back on the 6 o'clock show.
We have a little more time to develop it because I want to go through all the slides.
Two things. If we were able, the War Room, working with Lindell or whoever, we're able to set up a town hall in Shasta County where you could actually present to everybody again.
And we invite the supervisor or the clerk up there to put her numbers up and your numbers up.
Would you be open to that, ma'am?
unidentified
In a heartbeat. In a heartbeat.
steve bannon
And if War Room was able to track down the editors of The Guardian this afternoon and the reporter, would you be open to do a full-on interview all on the record and put your numbers out and have them take their best shots at you, ma'am?
unidentified
Always. All of the stuff we put out is out there for the public to see we don't hold anything back.
steve bannon
Linda, how do people get to you on social media?
How do they find out more about your crusade out there in Missouri to really implement a hand counting of paper ballots here in our country?
unidentified
Well, I wrote a manual, an e-manual.
I like calling it e-manual.
I like that word. And it's called Missouri Elections.
If you turn the hand counting, you can find it on Frank's speech.
Go to causeofamerica.org.
In the bottom corner of the website, there's a link.
It says Hot Topics, and it's a direct link to download the e-manual for free.
We are trying to save the country.
And on social media, I'm at Linda on Frank's social and at C of A. Oh, there I am, at Linda Rance on Getter.
There I am. Yep. Linda, you're a patriot and a hero.
steve bannon
Thank you for joining us. We will be in touch.
We'll do some work this afternoon and come back to you, ma'am.
unidentified
That sounds great. Thanks, Steve.
steve bannon
When you have Julianne Murray and Linda Rance on your side of the football, you're gonna win, okay?
Let me just be blunt about that.
That's why I'm so honored with the show today.
You have people like Josh Hammer, a public intellectual.
We're about to have Cash, Patel, and Derek Harvey, two of the smartest guys I know and two really action-oriented guys.
You see the caliber and the quality that MAGA has?
It's second to none in the world.
And this is why we're going to win.
And this is what I've been saying now for a couple weeks.
The primary's over.
We've got to put away childish things.
We've got to get in back of President Trump.
And we've got to make sure...
That not only like in 2020, he won in 2020, we didn't close the deal.
He's going to win, but we have to close the deal, and that's going to take a massive effort because the administrative state, the deep state, the oligarchs on Wall Street and Silicon Valley, as I said, and when I called out Murdoch on the stage at CPAC, they're going to do everything in their power, and they are very powerful.
To stop Trump from winning and going back in the White House and continuing his fight against the administrative state.
I've got two of the best for this.
Kash Patel, let's talk to Mike Morrell.
Give us an update on what you're seeing and what you're working on because it's...
It's scarier in the fact that it's more in your face.
Right now, they don't care anymore.
There's this up in your grill of what they're trying to do to basically thwart MAGA and thwart President Trump returning to the White House, sir.
kash patel
Steve, great to be back with you.
And it goes to the heart of your tremendous interview with Donald Trump.
I think the fact that you guys are seizing upon the two-tier system of justice and the hypocrisy in law enforcement intelligence is what's gonna catapult President Trump to victory.
Look no further than Mike Morrell for using law enforcement intelligence to rig presidential elections three consecutive cycles.
The former head of the CIA, when the Benghazi attacks happened in the Obama administration, he single-handedly Edited out the information and references to al-Qaeda because the Obama administration didn't want it to be a terrorist attack.
Morell admitted to doing that to achieve a political end.
That was 10-plus years ago so they could win the next presidential cycle.
Don't believe me there? Fast forward to Russiagate.
Mike Morell, still a senior-level CIA intelligence officer, comes out and says, Russiagate is real, and Donald Trump is a Russian asset.
Don't believe me?
Look at the testimony he provided Jim Jordan under oath, where he admitted to doing that for political gain, to simply have Trump lose.
And he wanted Hillary Clinton to win so he could become the next CIA director.
That's his own mission.
Fast forward to the latest scandal, the next presidential election.
Of then campaign adviser to the Biden campaign, Tony Blinken, calls him and says, we need a counterpoint to the New York Post story that Hunter Biden's laptop is real.
Four days later, the 51 intel officer letter circulated, signed, and headed up by Mike Morrell.
He just admitted to Jim Jordan under oath that Tony Blinken was the reason he did it, because they needed a narrative to dispute The New York Post was reporting at the Biden campaign.
And if you recall, Joe Biden held up this letter during a presidential debate and said, what?
This is Russian disinformation.
My son did nothing wrong. It was architected and orchestrated by one individual, Mike Morrell, the former most senior intelligence officer in America, has rigged three straight presidential election cycles by his own admission.
We have got to get these guys in check.
This committee has got to produce more documents.
And this is why Donald Trump's gonna win.
steve bannon
Cash, how can a guy you talk about from Benghazi, which was to protect Hillary, then Russiagate to another Hillary protection, and now Biden, and always the Obamas?
Here's where I think the audience would have a question.
How does a guy like Mike Morrell still have a security?
When I say security clearance, it ain't like a top secret clearance.
He's got the highest security clearance probably we can give in this government in this country.
How does a guy like Mike Morrell still have a security clearance that he can dine off of, basically make a living off of?
Brother, help me out here. That's absolutely right.
kash patel
That's what he's doing.
He's making bank In the media circuit and the speaking circuit with the security clearance.
And the only reason he has it is because the Office of the Director of National Intelligence run by Avril Lavigne, or Haynes, whatever her name is, another government gangster, refuses to revoke it.
That's where the authority vests, to revoke a security clearance.
Of course, the White House could do it too, but they're not going to do it.
So what Congress must do, is come in and remove the funding stream for these individuals who signed this letter, all 51 of them, to suspend the activation of their security clearance.
Steve, it's that simple. When you cut the money, it doesn't matter how many levers of government they pull to turn it back on.
If there's no money, there's no security clearance, and the House has to get to work on this immediately.
steve bannon
Okay, give us that again in detail.
What House committee?
Who are you calling on?
Because we'll start lighting phones up.
What has to happen?
Is this an appropriations committee?
Did they cut money for DNI? Is it CIA? Where did they go?
First off, it is outrageous.
All 51 have it.
But there's a handful of Brennan and Hayden and Morell and a couple others.
There's like five or six that should be pulled today.
And the House should go do it today.
So what committee should it be?
Who are you calling on to do this?
kash patel
It's multiple. I need the House Judiciary Committee to subpoena them and have them testify in public as to why they knowingly lied to rig a presidential election.
Then I need the House Intelligence Committee, who has jurisdiction over the IC, to work with the Appropriations Committee to zero out in an incoming next IAA, the Intelligence Community Act that funds the intelligence community, to zero out the funding cycle and stream to host Former government officials' security clearances.
That has to be authorized and funded by Congress.
So the Intel Committee and the Approves Committee need to go to work ASAP on taking this away.
I'm sick and tired of listening to having people tell me, oh, we can't do this because we don't have the White House.
No, we don't have the gall in Congress right now to take these people out for lying and rigging presidential elections.
And some of these people on some of these committees need to start stepping up and doing the work that they are supposed to be doing for us, like suspending the security clearances.
steve bannon
The two-tier system of justice, which President Trump talked about at length in our conversation, and you have kind of made it the burning issue of your crusade.
Tell us where your book is, Government Gangsters.
I want the audience to understand what the administrative state's doing, because they have no intention of ever letting Kash Patel name names.
Walk me through where the book right now is in its review process, sir.
kash patel
Yeah, it's on presale at governmentgangsters.com, but it has been on presale for five months because the Department of Defense and so many other agencies are sitting on it.
So what we prepared is a federal lawsuit, which we are filing in federal court to force the release of my manuscript.
It usually takes a couple of months for them to review this material and release it, but with me, They've added two and a half months of extra time and they don't want this out because as President Trump called my book, it's the roadmap to winning back the White House in 2024.
And more importantly, it's how we destroy the government gangsters, let them create the FBI and DOJ and DODs of the world to return to work for the American public.
So look, it's going to be a fight.
steve bannon
They have not even come back to you with the redacted, okay, Cash, here it is.
Every page is a black page.
That's your redactions. What do you got to say?
I mean, there's a process on this, right?
All these other guys print books, they go through the process, but they have not come back to you with your first draft marked up.
Is that correct? That's correct.
kash patel
They've given Esper and Pompeo and Bill Barr and all these other guys their books right out of the gate with little to no delay.
But when it comes to me, when you talk about actual exposure of corruption, and look, that's the landscape they want to operate in.
Government gangsters are Bill Barr and Mark Esper and the like.
And they let their books out because they're very anti-Trump, and that's what they want.
But when you expose things and show that Donald Trump was the figure leading the charge against the deep state based on truth They don't want that out there.
They certainly don't want it out there anywhere near a presidential election.
But if they delay, we get closer to the election.
So go buy the book, governmentgangsters.com.
We're not going to stop. I'm not taking any.
steve bannon
Give me your social media.
unidentified
We've got about 20 seconds. At Cash, at KSH, Truth Social only, at Cash, KSH. And check out fightkidcash.com.
kash patel
Everything else in my life.
unidentified
Thanks so much, Steve. You're a warrior brother.
steve bannon
Thank you. Derek Harvey next.
donald j trump
All-time favorite president, Donald J. Trump.
Over the last 40 years, I've corresponded with some of the most incredible people, from presidents to kings and queens, and from Hollywood stars to business titans.
My new coffee table book, Letters to Trump, published by Winning Team Publishing, features some of these never-before-seen letters.
You're gonna love reading it.
steve bannon
You're gonna love having it.
donald j trump
Get your copy today at 45books.com.
I think you'll really, really love it.
steve bannon
45books.com. Make sure you put in promo code WARROOM. This thing weighs a ton.
You get free shipping. And I want to thank everybody in the posse with the conversation we had on Friday at Mar-a-Lago.
By the way, that was live. Really want to thank the Real America's Voice team.
It was incredible. The setup was perfect.
It had to be done because of all the various functions that go on at Mar-a-Lago.
It had to be done just in a couple hours.
It was incredible. Parker Sigg and the team.
We're going to get down doing the day-to-day.
I'm just kidding. It's Monday.
The goblins are in the machine.
The ghost in the machine. Everything on Friday was fantastic.
Go to 45books.com.
Promo code WARROOM. You get free shipping if you're part of the Posse.
And I think people – because my phone blew up over the weekend.
Obviously, a lot of people called and texted me.
That is – and John Fredericks, I was on the show today.
You saw – I think you saw there was the President Trump of 14 and 15 and 16, right, before the media onslaught every day, the legal onslaught every day, the cheap shot questions, even guys that interview him trying to be wise guys.
He does a lot of great interviews, don't get me wrong, but we tried to do it in a way that was not about politics, but he still came back to politics.
And as John Fredericks and his wife said today on their show, you see somebody that's got that charisma, but now he's got the gravitas of four years of peace and prosperity.
I'm adamant about this.
The primary's over.
The primary's over. And the rest of it's just all a joke.
The Nikki Haley and the Chris Christie and the Ace of Hushman.
Governor DeSantis, who I'm very high on as a governor, And I think he's done a really excellent job.
He's got to stop the money in these consultants from destroying his political career.
Let me be brutally frank.
That trip you took overseas was an embarrassment.
Okay? You came across as a small-time governor on a trade mission.
And then you literally got blown out of the water in London.
And London's like New York.
These are Hollywood... Wall Street or New York City and the city of London, these are towns without pity.
You either can perform and you can do it or you can't.
And the prime minister wouldn't meet with him.
I had a burning meeting in Scotland because, and the word was pretty open, he's so far behind the polls and the guy doesn't want to get crossroads with Trump.
But then what happened with the business meetings and the executives from the city of London and the big corporate executives that make London their home was devastating.
And the political piece that I put up, as horrible as that was, that's not as bad as some of the other pieces that are out, and particularly the scuttlebutt.
It's a difference in scale.
The presidency, commander-in-chief, chief magistrate, it's a difference in scale.
Trump gave us four years of peace and prosperity.
I understand there's a lot of people irked at Trump.
A lot of people don't like the sound of his voice.
Hey, I got that.
And you know what? It doesn't matter.
We are in a jam.
The bottom's falling into this. I'm going to have Cortez on here in a moment.
Just remember, you as a taxpayer out going to work on a Monday or out taking the kids to school or doing your social functions or out with your chores.
Or some of the retirees at home?
You're now the co-owner of another failed bank.
You're going to participate 50-50 in the losses.
And guess what, baby?
You've got no upside, just like in the old days.
So get ready to suck on it.
And this economy is going to continue like this.
I want to bring in Derek Harvey.
Derek, we've had kind of the high and low here of the ground game.
We had a MAGA person take over the chair of Delaware.
We had Linda rants on how you're going to get the paper ballots, and it's not going to cost a fortune factor.
You're going to save money, although every left-wing paper in the world is saying it's going to bankrupt the nation.
I actually put up the Dominion.
I want people to read the Dominion interview at Axios.
You have to understand the other side and hear their perspective.
I also think it gives you big insights in did Fox really put up a fight or not, but you determined that.
This is a huge exclusive interview on Axios.
I have it up on Getter, and I think you should read the entire thing.
It's a lengthy interview with, I think, both the chairman and the CEO of Dominion, and you should read it.
Derek, but also this administrative state, it's game on.
We call it the two-tier system of justice, all types of names we give it.
But Trump right now is in a war.
If we're going to win, and not just win, is have an effective administration like the first term.
And the first term wasn't perfect, trust me, far from perfect.
But you saw it, what we got done, and what we know we have to do in the second term to save the nation.
Talk to me about it, the Mike Burrells, the Sequoias, the Beacons, because this is an entire apparatus of well-funded, very smart, and dedicated and focused people who under no circumstances Want Derek Harvey back in the White House, National Security Advisor, you know, Peter Navarro with the senior position, Steve Cortez with the senior position, Donald Trump in the Oval Office.
They will do anything to stop that.
And so tell us, we just talked about Morrell.
Tell us about Sequoia and Beacon.
derek harvey
Well, I'm going to connect to what Cash said.
And one of the key things is these guys have their security clearances and they leverage that To continue to get briefings and participate and get paid to advise DNI, CIA, and the other 14 intelligence agencies.
They also get contracts based upon these security clearances to advise the Department of Defense Beltway contractors, for example, and others.
So they're making a lot of money.
Now, cash, that would help dry up some of the cash because they haven't been...
They've been very political, as he laid out, and we've discussed before.
Now, he pointed out that Mike Turner at the House Intelligence Committee is key here, along with the appropriators.
He's supposed to work with the appropriators.
But Mike Turner, as the chairman there for the Republicans, is basically deferred leadership of that committee to the Democrat Jim Hines, who replaced Adam Schiff.
So there's really no hope of getting anything out of the House Intelligence Committee.
And that's where we need to put pressure because Mike Turner is not a fighter.
steve bannon
Whoa, whoa, whoa, whoa. Stop.
Full stop. Because Hines is on MSNBC every second.
I mean, this guy's everywhere.
You're telling me Turner has effectively turned over?
And quite frankly, a lot of this happened under as soon as Devin had to recuse himself.
Shifty shift in Swalwell, being a guy that sat under, I think, for 20-some hours of grilling or 30-some hours of grilling by House and Tell, as you remember, the same thing happened.
With Trey Gowdy, that Trey Gowdy basically turned it over to a shifty shift when Paul Ryan gave Devin Nunes the hook not to bring up unpleasant topic.
But you're telling me the same thing.
Is this why these investigations aren't going forward?
Because Mike Turner, Republican of Ohio, is not doing his fiduciary responsibility as chairman?
derek harvey
That is absolutely correct.
As a matter of fact, his senior staff on the House Intelligence Committee brags about how close they are with Jim Hines and the Democrat leadership there that are basically the same folks that were there under Adam Schiff.
There's not a dime's worth of difference between Mike Turner and Jim Hines when it comes to the big issues that are important to protecting our democracy and fighting to get accountability for the FBI on FISA abuse or on these bigger issues of corruption and criminality.
You know, which we saw in the Russia hoax.
And I would like to just go a little bit further here and connect the dots with Mike Morrell.
It's not just Mike Morrell at Beacon Global Strategies, but, you know, that's where we had Blinken, and that's where we had Mr.
Panetta, who used to be CIA director, and Jeremy Bash, who runs it, who used to be chief of staff to Panetta at CIA, and then over at Department of Defense.
It's a revolving door location for the Democrat security and intelligence officials.
Now, Sequoia just hired them to represent them and advise them on how to deal with China.
Now, that's laughable because Sequoia has had as their global steward Neil Shen, Chinese head of Sequoia China, who's been an advisor on new technologies and where to go economically, to President Xi himself.
That's who Sequoia has partnered with to open the door and operate in China and then draw out investment opportunities to Wall Street.
But those investments are being shaped and guided By the Chinese government through Neil Shen.
Now, Sequoia says, well, he's really not in charge anymore.
He's just Sequoia capital in China.
Well, if you dig into it, we don't have time here.
We could go through it. It's really not the case.
Now, The key thing here is Sequoia Capital and others are funneling the money and the profits from China, and they leverage some of that profit, and they fund nonprofits that are definitely aligned with the Democrat Party and the left.
raised $30 million in one donation, actually, from Sequoia Capital folks to the LCLU, which then uses that money to fund lawfare against conservative movement activities.
So that's what we see going on.
Now, I know that Lisa Monaco, Deputy Attorney General and the head of the Criminal Division, as well as the Security Exchange Commission and the FBI, have solid information about multiple crimes by Sequoia Capitol people and that the Sequoia Capitol American leadership have been aware of this.
And they're trying to throw this under the rug and cover it up.
But some of the areas of violations are Security Exchange Acts of 33 and 34, Foreign Agents Registration Acts, Foreign Corrupt Practices Act, Economic Espionage Act, Racketeering and Influence Peddling, Corrupt Practices Act.
And that is all information that FBI agents themselves have developed, have worked with, have interviews on, and stuff that I was working on when I was in the House Intelligence Committee.
Lisa Monaco has a portfolio of this since early fall of 2022.
They're not doing anything.
What they're doing is they're making a charade here to obfuscate what's going on, because they're trying to protect Democrat donors and the Democrat Lawfare establishment.
steve bannon
Hang on one second.
This is pretty explosive. Because Sequoia is one of the most revered venture capital institutions in Silicon Valley.
And tied to the rise of the Democratic, the radical Democratic Party and the oligarchs in Silicon Valley.
unidentified
All next, Harvey, Steve Cortez.
Okay, Derek, in those...
steve bannon
Allegations you just made, you've seen documentation of that.
When you say that Lisa Monaco has those and has had it since the fall and that Mike Turner knows this and they're not moving on it, you've actually seen the documentation on that?
Correct. Okay, so we're going to announce 6 o'clock tomorrow night, and we're going to reach out to Mike Turner's office, 6 o'clock tomorrow night on our 6 o'clock show, because I can get an hour to go through this with Derek Harvey.
And people should know, Colonel Derek Harvey is a revered figure, not just in the intelligence community, but DIA, the Pentagon, the work he did in the Iraq War to really get that, you know, where it wasn't the total debacle that had become.
The Trump White House, what President Trump thinks of him, and he will have a major, major position in the second term.
I know that thrills your enemies in the deep state and in Silicon Valley, but I just wanted to know.
Let's stop playing nice.
Let's go back to Smash Mouth.
It's screw you. You hate us.
We hate you. There's no middle ground.
Either one of us is going to win, one of us is going to lose.
We got that. We can play by those rules.
We got that. We understand that.
But it's no more, you know, oh, they're okay.
No. They're traitors.
They're working with the CCP. Sequoia is a front for the Chinese Communist Party.
And Mike Turner ought to be turfed out.
Turfed out, not just to tell.
He ought to be turfed out of his seat.
If he doesn't get with the program, to let a guy like Jim Hines, I think he's another Goldman guy, to let him a devotee of shifty shift in Swalwell, who as we all know slept with a communist agent and compromised himself, is absurd.
The Republicans, this is the problem on Intel.
You know, you got a handful of guys like Devin Nunes and you got a bunch of weak sisters, like Trey Gowdy, another disaster.
Derek, until tomorrow, what is your social media?
derek harvey
How do people get to you? I'm on TruthSocial, at DerekHarvey, and then DerekHarvey.org.
steve bannon
Colonel Harvey, thank you.
I look forward to working with you and seeing you back on the show tomorrow and going into some more depth.
Thanks, Steve. Take care.
Thank you, brother. So Cortez, you know, now more than ever, I want to start with the League of American Workers.
I'll tell you why. When you look at the long odds that we got, right, with the deep state, with the tech oligarchs, first off, tell me about all your members going to join the League.
Tell me about this deal. It's another great deal where the American taxpayer picks up half the losses.
Correct me if I'm wrong, I didn't see the warrant package.
I didn't see the warrant package assigned to the American taxpayer.
So if any of this stuff works out for J.P. Morgan, they get a piece of the upside.
Is the taxpayer getting the upside of this, sir?
steve cortes
Right. Yeah, all of the risks and upfront risks, by the way, cash on the barrel right now, okay, without participating in the upside, which goes to Jamie Dimon and J.P. Morgan.
That's the kind of deal, unfortunately, it's hard to even call it a deal.
That's the kind of situation that has been inflicted upon the American people.
And you're right. I started the League of American Workers.
You can go to amworkers.com to learn more about it.
As a mechanism, an advocacy group to do media and research and advocacy in the public arena to try to get us that seat at the table.
We're going to get there, but it's an arduous process.
And unfortunately, Steve, the reality is over the weekend, and this is exactly why the SVB Bank was really, for me, the crystallizing event that I had to start this new advocacy group.
We have yet another weekend, yet another Biden bank failure, and this one now, the largest yet of his tenure, the second largest in all of history.
We keep setting these incredibly unfortunate records, if you will, under Joe Biden.
So many economic metrics are the worst since 08 and 09, the worst since the 70s, in some cases the worst since the Great Depression.
Now, I hope and pray that we never have a bank failure bigger than Washington Mutual, because that was mammoth in 08, 09.
But under Joe Biden, Anything, unfortunately, is possible.
So let's look at the charts of this situation with First Republic.
We go to chart number one.
Let me show you the common stock.
This is what has happened to the equity holders of First Republic.
It is suspended today in early market trading.
It was trading at $2 a share.
It looks as if it's headed to zero, meaning the equity holders are simply going to be wiped out.
But that chart I'm showing right there, Steve, that only goes back one year.
I'm not showing you ancient history, okay?
Just eight months ago, this stock traded for $170 a share.
unidentified
It is now at $2, and again, it looks like it's headed to zero.
steve bannon
Stop, stop, stop, stop, stop.
This is how Biden economics can break a bank, but this also gets into the whole scam of Wall Street, of the analysts.
$170 a share.
Down to essentially zero.
Remember, what happened over the weekend, they essentially, the FDIC, the government seized the bank at the close of market on Friday.
They ran an auction.
And the whole, when they said negotiations, it's only how much they had to sweeten the deal for Jamie Dimon, right, to take it, to take the upside and to screw the American taxpayer.
Is that essentially the negotiation process?
steve cortes
Correct. And listen, notice how Jamie Dimon played this and the other large banks.
They waited for the complete collapse right before stepping in because they then know that they can get the absolute best deal where essentially the taxpayers, the depositors in these banks, are left with the toxic assets and all of the upside belongs to the big banks who get an ever more powerful share of an ever concentrated business environment in this country.
And that's not just true in banking.
That's true in so many industries.
But most especially right now in banking.
Now, here's the thing, Steve.
It would be one thing if we could say after SVB, after Sinatra Bank, after this, if we could say, okay, maybe it's done.
Let me tell you something, Steve. Let me give you an axiom that I think is important for the audience to remember.
We talk about price is truth.
I think that's a phrase that's important to remember.
The prices don't lie.
Trucks don't lie. That's as an aside.
But let me also tell you, there's never one cockroach, okay?
If you come into your kitchen in the early morning and it's dark and you flip on the light and you see a cockroach, do not assume, oh, that's the only one.
We're fine. We don't have a problem.
No, you do have a problem, okay?
There's never one cockroach.
And when it comes to the banks, there's not one cockroach.
And we are finding that out weekend by weekend.
And right now, as we speak this morning, Steve, the existing banks, which we hope are healthy, they're down, the regional bank index, down 2 % on the day.
Why? Well, because more trouble beckons.
Unfortunately, it's right around the corner, and we've been talking about it on this show for a very long time, but it's becoming more apparent now to the powerful.
If we want to go to chart number two from the Financial Times, please, this is Charlie Munger, who is not nearly as well known as Warren Buffett, but he is his partner in crime, massively successful billionaire over decades and decades of investing, not at all ideologically with us, by the way, quite the opposite.
A committed liberal, if not, leftist.
And this is from the Financial Times.
And I'm quoting from there because it's Steve Bannon's favorite paper.
You know, like a lot of Irishmen, Steve pines for the approval of the Brits over there at the home office in London.
So I'm quoting from the August Financial Times as a homage to you, Steve.
This is what Charlie Munger reports in his interview with Financial Times.
That, quote, troubled office...
Building troubles, shopping centers, troubled office building troubles, shopping centers.
A lot of agony out there.
Tighter on real estate loans.
So that is the outlook going forward from one of the smartest people in the business, again, somebody who does not share our ideology, does not share our politics or philosophy, but who has an incredibly keen eye and has a history, by the way.
Munger and Warren Buffett have a long history of bailing out banks in times of incredible trouble, particularly in 08 and 09, and for the most part doing so with great acumen, right, with great skill.
In this case, he is saying, we'll take a pass, thank you.
We are not interested in trying to pick up the scraps right now.
That is according to billionaire Munger from Berkshire Hathaway.
steve bannon
Give us your sense with the credit contraction, the second shooter drop, the commercial real estate.
Jamie Dimon, I think he said, hey, the first part of this is over.
This kind of wraps that up.
What is Jamie Dimon seeing that the war rooms...
What are we seeing that Jamie Dimon's not...
steve cortes
Let me give you another clue of what lies around the corner.
We've been talking about repossessions.
And this is why, by the way, I believe Jamie Dimon sees this, but it's not in his self-interest to be honest about it with the American people and particularly with shareholders of banks like his.
But we've been talking about repossessions and far in advance of the corporate media now starting to catch up and talk about the repo man unfortunately tragically getting extremely busy when it comes to cars.
Well, the same is true for motorcycles.
So if we go to chart number three, please, slide three.
This is a Bloomberg headline that came out about Harley-Davidson.
Steve, Harley-Davidson blamed some of its credit losses in its report.
This is real. It almost reads like the Babylon Bee, and it would be funny if it weren't so tragic in the real world.
They said that one of the reasons they're enduring such credit losses is because they cannot repossess the motorcycles of the owners who aren't making payments because they can't find enough repo men.
So therefore, they're taking credit losses because they can't get the bike back so that they can try to sell it again as a used motorcycle.
Instead, it's just sitting there because there is a dearth, there is literally a lack of repo men who are ready and capable to go and get the motorcycles.
That's how bad things are right now.
As reported, not by Steve Bannon or Steve Cortez, as reported by Harley Davidson.
So listen, given the totality of all of these metrics put together, the things that we see on the macro level, on the micro level, the commercial real estate risks that are out there, many of those risks, remember, flow directly out of all of the mistakes of 2020, the lockdowns, the BLM riots, the lawlessness in our This confluence of factors together with Biden's inflation being the real spark.
We had a lot of these bad conditions existed, but the spark to begin this very unfortunate bonfire was Biden stoking inflation in an absolutely unprecedented way.
Think of this, by the way, too, Steve, this very week.
Talk about a busy news week on the financial side.
The Fed's going to raise interest rates this week.
At least that is the almost unanimous opinion of Wall Street and economists who are looking at the Fed.
So at the very time that the Fed itself, along with the FDIC and the Treasury, the very same time, within hours essentially, of bailing out a major bank, the second biggest bailout in the history of the United States, They are also going to raise interest rates, which is the very cause in many ways of the predicament, the crunch that these banks find themselves in.
So talk about, look, Lincoln told us a house divided cannot stand.
An economy divided cannot stand.
That is the reality right now.
And Jerome Powell, I'm not saying he shouldn't raise rates, by the way, because we have a massive inflation problem.
And it's incredibly sticky.
But the point is, he is going to do more of that which is causing this crisis in banking in the first place.
And so when I look out in the future, I don't see any reality, any plausible projection other than massive credit crunch.
Credit Crunch Ahead, meaning it's going to be extremely difficult for you as an individual or small business, if not impossible, to get a loan.
And if you can't get a loan, the terms are going to be so onerous for you that it will be very difficult for you to thrive with that loan.
And for people who already have loans that are hard for them to handle, unfortunately, the situation is going to get better before it gets worse.
And Steve, bringing all this back to politics and back to Capitol Hill, this is why it is so imperative.
And I'm really proud of what the House GOP did.
Of course, I would have gone further.
A lot of us on the right would have gone further.
But in terms of getting to a majority vote, I think it was played exactly correctly.
The ball is now in Joe Biden's court.
Does he want to own a shutdown of the government?
Does he want to own the necessity to have to prioritize payments?
We don't need to default, but to prioritize payments.
The onus is now on him, because the GOP House has taken action, and it's far from a silver bullet.
But it is a first step, it is a first small step toward getting back to a place of Of fiscal sanity, of restrained inflation, and of a trajectory that brings us back.
It won't be easy, but brings us back toward prosperity again in this country, because the situation is terrible, it's getting worse, and Steve, there's never one cockroach.
steve bannon
Do we have teed up the League of American Workers?
Can we play that? I want to play that going out.
Tell me when that's ready.
I think it should be teed up. Cortez, I want to talk to you about after the break that and also at the White House Correspondent, which is an embarrassment, I think.
Yeah. For the media was at the fourth estate to go, what was said about Joe Biden.
But before we go to break, David Axelrod, they had a thing in Politico over the weekend asking the top gurus in politics in the country, what are the topics nobody's talking about that are going to really be big in 24?
David Axelrod said the economy.
Am I missing? Are we just too much in the war room bubble?
I mean, they actually said, give us the number one main topic that's not really being discussed.
That's the sleeper issue, the sleeper issue beneath the horizon.
Give me, we've got 30 seconds, your thoughts.
steve cortes
Yeah, look, it's of course the economy.
And within the economy, though, more specifically, it's the deficit.
Because the American people, in their own lives, have now come to an appreciation of what the deficit is doing to them.
It is going to be the front and center issue for all races, not just the presidential.
steve bannon
Steve, hang on. We've got a lot more to discuss in the D-block of the second hour of The World.
unidentified
Back in a moment. The new social media taking on big tech, protecting free speech, And canceling cancel culture.
Join the marketplace of ideas.
The platform for independent thought has arrived.
Superior technology.
No more selling your personal data.
No more censorship.
No more cancel culture.
Enough. Getter has arrived.
It's time to say what you want, the way you want.
Download now. The judges said Matt Weiser stood out among his competitors for work that went beyond the humdrum of covering the managed events of the presidency in the White House.
Weiser captured the spirit of Joe Biden, particularly with stories about the president's brother and how his Catholic faith influenced his strategic vision of the office.
The WHCA is pleased to give the Aldo Beckman Award to Matt Visor.
steve bannon
Thank you.
I kind of think we ended with the Satan Calm dinner in Washington, D.C. at the White House Press Corps, another group of demons.
Joe Biden's son, I think today, we're going to have Mike Davis on here this afternoon, Cortez.
I think that the stripper he knocked up And that the Bidens are not giving the little baby, the little girl, their granddaughter any money, not using the name.
I think she's getting her day in court today.
I mean, these people are scum.
They've taken money to the Chinese Communist Party.
If you got a chance to spend time in the laptop from hell, you would know how perverted they are.
How can they sit there with a straight face?
The Washington Post wrote an article about how his Catholic faith informs his strategic vision, sir?
steve cortes
Right. Steve, they have nothing but contempt for us, clearly.
Now, I think we should wear their contempt as a badge of honor, but nonetheless, we need to be aware of it, of the revulsion that they feel toward regular Americans, toward the salt of the earth people who make this country run.
Many of them happen to be very devout Catholics who should be particularly insulted at that just ludicrous award.
I mean, think about that, by the way. And the self-congratulations, the self-satisfaction that you saw at that dinner, and I think it was even worse this year than most.
So glad to watch it from afar and not be there.
It was a soiree of extravagance and total unseriousness in an age where we need very serious people, including a well-operating and skeptical press, which we don't have right now.
But you see there An ABC reporter giving an award in front of the president of the United States to a Washington Post reporter for his incredibly glowing story on that very president.
And supposedly, with the main aspect being the Catholic faith of Joe Biden.
Joe Biden, who is demonstrably the most radical pro-abortion president in the history of that office.
Somebody who brings great scandal to the Catholic Church, by the way, in which he continues to parrot it in front of the people.
He constantly talks about his rosary beads and makes the sign of the cross and then turns around in his actual actions, right?
Shows that he has no concept, no regard for his faith, or for that matter, anybody of any traditional faith.
No regard for the Judeo-Christian tradition at all.
And you're right, Steve. In a sense, it is fitting that you began today's show with that scene out of Boston and ending it with this scene out of Washington, D.C., because those two circuses have more in common probably than either would care to admit.
And it also happens to be the two ends of the Acela Corridor.
And the Acela Corridor, I would argue, is the nerve center of the ruling class in the United States that has caused so much pain for this country, has done the bidding of the multinational corporations, of the globalists, of the Chinese Communist Party, everybody but working-class Americans in flyover country.
I think blissfully unaware to them that there's a giant country between Brooklyn, New York and Brentwood in Los Angeles, between the Beltway in Washington, D.C. and Brooklyn and the Bay Area, say, on the West Coast.
There's a giant country in between that they frankly don't care much for and that they don't mind insulting.
And that was an incredibly insulting presentation made there at the White House Correspondents' Dinner on Saturday night.
steve bannon
The two anchors of the solid quarter.
Let's go ahead and play. I want to play the League of American Workers.
Let's play the chalk talk.
steve cortes
Patriots, Biden's economic crisis inflicts particular pain on working class Americans.
But the sad reality is that working class Americans, middle America economically, has been suffering for decades as the credentialed ruling class takes an ever greater share of national income and national wealth at the expense of Let's look at the numbers in a chalk talk.
Percentage of total household income going back a half century.
50 years ago, middle-income Americans got almost two-thirds of all household income.
It has slid all the way to only 42%.
At the same time, upper-income Americans have gone from under a third to half.
of all household income in the United States.
If you want to join me in fighting for populist nationalist economic principles for that agenda, consider joining the League of American Workers, my new organization for information.
Go to amworkers.com.
That is amworkers.com.
steve bannon
Couldn't be a better guy to do it and a better time to do it.
Tell us about it, Cortez. Thank you, Steve.
steve cortes
Well, listen, I think the time is right, a sense of urgency right now.
And I also firmly believe that given the excesses and the abuses of the ruling class in the United States, and frankly around the world, but I'm concerned with what's happening here, that populism is ascendant.
I think that is almost undeniable.
It's a matter, though, of whether that populism will be of the left or of the right.
And, of course, we want to make the case to persuade the American people that an economic populist nationalism of the right That is rooted in sovereignty of the American people, a diffusion of power, particularly economically, and cultural conservatism with those foundational pillars.
That is the roadmap for a successful and better America, for a renewal, a renewal that includes A very broad and very prosperous middle class in this country.
Something we once had, something we can get back again.
And so because of that, I think it's important for all of us to be activists, not just talk about it.
One way to be active, if you're so moved, is to support my organization, amworkers.com.
But however you choose to get active, Okay?
Find the right candidates who believe in these principles and we need to make sure that we elect them at every single level from your local school board all the way to the President of the United States.
The most patriotic populist candidates we can possibly find because I believe we can save this republic, Steve, but we need to be honest with ourselves.
We are slipping into oligarchy.
The window is closing.
The hour is late.
So have a sense of urgency.
Act now. We can save it.
But again, realize that the clock is ticking.
steve bannon
Steve, where did they go to find you in Substack and social media?
steve cortes
Yes, please. So on the Twitter, I'm at CortezSteve, Cortez with an S, and then stevecortez.substack.com.
Find me there, unfiltered and uncensored, thankfully, just like your show, Steve.
steve bannon
Thank you, brother. Also, MyPillow.com, Sleep the Sleep of the Just.
Mike Lindell will be joining us later in the week.
Sleep the Sleep of the Just, MyPillow, the MyPillow 2.0, and the Topper 2.0.
This will give you the night's sleep that you need to be on the ramparts in the war room.
MyPillow.com. Promo code WARUM. Go check it out now.
Also, letters to Trump.
45books.com.
It's a fabulous book.
You really get to know President Trump.
Promo code WARUM. Get free shipping.
Charlie Kirk next.
I'm back here live at 5.
Export Selection