May 4, 2023 - Bannon's War Room
48:53
Participants
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| Speaker | Time | Text |
|---|---|---|
| This is the primal scream of a dying regime. | ||
|
unidentified
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Pray for our enemies, because we're going medieval on these people. | |
| 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. | ||
| 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
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Ask yourself, what is my task and what is my purpose? | |
| If that answer is to save my country this country will be saved Here's your host Stephen K back | ||
| Well one day back from the beach one day back from the beach course in the war room now is this I'm too edgy, right I don't think a juice is going to, I don't think my juice, my sippy cup, my juice is going to calm me down. | ||
| I gotta go. That's live on the stage in Budapest. | ||
| That's the Hungarian folk dancing. | ||
| I love folk dancing. You know, Mode, people don't realize this. | ||
| Captain Bannon was a champion-level Irish folk dancer when she was a little girl. | ||
| It's very soothing because Joe Allen and Bratt combined have got me jacked up today. | ||
| And I've still got the whole show to go to. | ||
| We've got investigations. | ||
| We've got politics, polling, capital markets. | ||
| But is all that going to matter? | ||
| And all the fights we've got, which we've got to win those fights, if this thing doesn't, we don't get on top of this, and now you're seeing the official oops. | ||
| And here's what I really feel great about. | ||
| They've probably given this to the most incompetent person. | ||
| Let's face it, even the Democrats know that. | ||
| She's completely over her head. | ||
| They've given it to the most incompetent person that hasn't succeeded in anything the administration has given her. | ||
| So when we talk about the end of humanity, is Kamala, what's she doing? | ||
| Is she free this afternoon? Can she take some meetings? | ||
| Can she get some briefings? | ||
| She did such a great job. | ||
| The southern border is about to explode, right? | ||
| And she's in charge of that. | ||
| She's in charge of about five other things. | ||
| All of that have been abject failures. | ||
| No follow through, no command, no owning a room, no stepping in and commanding a decision. | ||
| None of it. So let's give it to Kamala. | ||
| I feel so much better. Let's give it to Kamala. | ||
| We're talking about the proteins and the end of the earth, the end of mankind. | ||
| Let's put her in charge. | ||
|
unidentified
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Doesn't it make you feel good? Doesn't it make you feel good? | |
| Go grab a chamomile tea right now and heat it up and just contemplate that for a second. | ||
| Joe Allen, brother, help me out here. | ||
| You know, Steve, maybe the AI systems can create better brondo with better electrolytes. | ||
| Then Kamala Harris would at least be in her element when talking about it. | ||
| To sum this all up, this entire public-private partnership we see emerging with the federal government, big tech, and also the biotech corporations, I don't believe that the federal government will rein in these tech corporations any more than they did when Google search dominated over 80 % of all search results and the information flow on the internet Nor did they do anything when it was very clear that Facebook, | ||
| Twitter and all these others, Instagram, all these social media companies were basically turning children into smartphone zombies. | ||
| They did absolutely nothing about that. | ||
| I can't imagine that they're going to take on the most powerful tech corporations in the world with one of the most powerful technologies, if not the most powerful technology in the world. | ||
| I think what will happen going forward, there'll be a lot of talk about how they're going to make sure that it's not a discriminatory AI. There'll be a lot of talk to say, okay, well, if these companies perpetuate fraud, we're going to come down on them. | ||
| But there's really no way once the cat's out of the bag, right? | ||
| Once that happens, there's really no way to fix it. | ||
| If people have access to the technologies, if they democratize the technologies, which is one of the things they talk about all the time as far as social justice, that means that any bad actor anywhere can use it for generating misinformation, for sowing social discord by way of misinformation, and of course by generating cheaply made bioweapons. | ||
| One of the things that Renee Wegrezen from ARPA-H talks about is that you can go onto the internet and buy a very, very cheap, like a few hundred dollars CRISPR kit. | ||
| You're not going to be able to create something super sophisticated, but the fear that she expresses, the woman who is working on pushing biotech forward, is that you will just get some rando with just enough skill to create something extremely dangerous. | ||
| Like I say, these tech corporations, they're mitigating risk. | ||
| The big risk they're worried about is being left behind. | ||
| The big risk that they feel is a threat to them is that they won't be first to create the most powerful narrow AI, and of course the goal they're all looking forward to, to create a godlike artificial general intelligence. | ||
| And I think that that's the situation we find ourselves in here, Steve. | ||
| These companies are going to race forward no matter what, and the government will just kind of function as PR for them ultimately. | ||
| You talk about the public-private partnerships, and I want to make sure this is what your tax dollars is. | ||
| This is one of the reasons why it cut the federal budget so dramatically. | ||
| Talk to me about the National Society. | ||
| When you get to Brad's point, you're dealing with people that don't come from the same ethical framework of the Judeo-Christian West, this framework that's lasted from time immemorial. | ||
| It's been passed down generation to generation. | ||
| They're not part of that. | ||
| They've opted out of that because they're so smart. | ||
| They have such wisdom, right? | ||
| Walk me through the National Science Foundation. | ||
| Don't we have a problem already that the whole place is infested with transhumanists? | ||
| I mean, one of the issues we got here, see, people see no problem with this. | ||
| They're all gung-ho on this. | ||
| Joe Allen. Yeah, the National Science Foundation, that's a big part of these White House initiatives. | ||
| They've got 140 million now to work on, what was the quote? | ||
| Rights and safety in AI. Well, one of the more prominent, and certainly from my perspective, maybe one of the most important figures there at the National Science Foundation is William Sims Bainbridge. | ||
| He's been there for a long time. | ||
| In 2003, he published a paper, an enormous document, actually some 300 pages, on NBIC, which is code for transhumanism, nanotech, biotech, infotech, and cognitive technology. | ||
| And William Sims Bainbridge, being a prominent transhumanist, it's impossible to know, without being on the inside, how influential that is within the National Science Foundation. | ||
| But one thing I know for certain is that when you look at the sort of rhetoric coming out of big tech, or if you look at the rhetoric coming out of people like Renee Wegrezin at ARPA-H, And then if you look directly at the writings of William Sims Bainbridge, what you see is this kind of open declaration that these people orient themselves towards a transhumanist vision that technology is the highest power and that human beings are best served by aligning themselves with the highest power, | ||
| which is artificial intelligence and the various sort of biotechnologies that artificial intelligence makes possible. | ||
| It's as much a religious revolution As it is a technological revolution. | ||
| Brad, help me out here on this framing. | ||
| When you have people like William Sims, Bainbridge and others that are the leadership of these taxpayer-funded efforts, and they come from a totally different perspective than the taxpayers, sir. | ||
| Yeah, well, Joe hit it right in describing what's going on. | ||
| It's a race to be first. | ||
| And it's a race to be first to achieve God-like status, right? | ||
| And so in the Bible, this is called idolatry. | ||
| It's the key sin. | ||
| It's the original sin to replace God Almighty with yourself. | ||
| Humanity has a great track record of doing that. | ||
| When it comes to ethics, there's no such thing as ethics. | ||
| I taught this stuff for 18 years, so what I'm saying is actually true. | ||
| Ethics is the study of the criteria for what is good. | ||
| That is the debate, right? | ||
| So Hitler had a system where he identified slaughtering people for the Third Reich to be good. | ||
| The Chinese have a one-child policy that selects boys over girls that they call good. | ||
| The Judeo-Christian tradition has an elaborate system, which you just stated, has been with us for thousands of years, which has, in a very sophisticated fashion, defined a way to get at the good through God and to live out the good. | ||
| It, by far, even empirically, there's no competitor to the Judeo-Christian system of ethics. | ||
| The competing systems are Kant or Aristotle or Buddhist ethics or Confucian or Islamic ethics. | ||
| But the scientists you mentioned, the way science proceeds, even in ethics, is if you have a better system, name it. | ||
| And you have to explain more with less. | ||
| That's how science proceeds. | ||
| It's Occam's razor. | ||
| And you have to provide a better ethical system than the existing one to get rid of it. | ||
| Science doesn't even enter that debate. | ||
| And across corporate America and all this corporate ethics and the business ethics and all that, most people know that stuff is just a smokescreen to cover liability. | ||
| Those ethical systems can't stand up to three sentences of questioning as to, can you please define the good or the right In a meaningful way. | ||
| And so Joe's done a just outstanding job of showing what the threat is. | ||
| It's clear. And Joe speaks in very sophisticated fashion about religious themes that are attached to this supposed, you know, scientific That's emerging out there. | ||
| But the American people, as you say, ought to put the brakes on this thing immediately until we get some social definition of what are we trying to achieve here? | ||
| What is good for all of us in the long run? | ||
|
unidentified
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And so that's the challenge. Hang on one second, Dave. | |
| Joe, can you give people, and I know you work on a big project, give people how they can get caught up with you. | ||
| Also, we're announcing Ben Harnwell's putting up exclusive content on the newsletter. | ||
| You can get that by going to warroom.org, totally free. | ||
| Joe Allen's going to be giving exclusive content. | ||
| We're going to have other people giving exclusive content. | ||
| We want to make sure there's no paywall here. | ||
| It's not going to be a paywall. We want to make sure everybody gets access to this. | ||
| So, Joe, how do people get to you for your voluminous writings on this topic as you now come to the forefront of one of the great thinkers of this movement? | ||
| Well, Steve, there's going to be a lot of stuff coming up in the very near future as soon as I work out a few kinks on my end with this project, which has taken long enough and is coming to a close. | ||
| So you can find all my writing at warroom.org under the Transhumanism tab, jobot.xyz, or my social media, Gitter and Twitter, at J-O-E-B-O-T-X-Y-Z. Thank you very much, Steve. | ||
|
unidentified
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Thank you very much, Dave. Appreciate it. | |
| Thank you very much. By the way, I think I need to take a nap. | ||
| I think I'm going to have nap time here. | ||
| I'm going to do a MyPillow read. | ||
| I've got to. I think a lot of people in the audience say, hey, can I get a pellet and go curl up right now? | ||
| We've just had an hour and ten minutes of doom and gloom. | ||
| I don't want it to be doom and gloom, but I want to make sure people understand, as now the authorities finally awaken to the fact of what they've known for quite a while, because publicly they understand this is untenable, that we've got to be in the risk mitigation business In the early years of this, it's got to be risk mitigation. | ||
| The upside is all going to be there. | ||
| It's all going to come. But you have to be in the risk mitigation business. | ||
| And so far, there's been none of that. | ||
| That's why the leaders in this movement, in the transhumanist and particularly artificial intelligence aspect of it, are all coming. | ||
| In fact, the guy that wrote Sapiens is in The Economist. | ||
| The Economist has a big article about him. | ||
| Remember he wrote Homo Deus that warned about this. | ||
| And he's been one of the proponents of it. | ||
| He's now warning against it. | ||
| They're all warning against it. | ||
| Go to MyPillow.com, promo code WARROOM. I understand you're going to have nightmares. | ||
| How can you say that? | ||
| Because you need a good night's sleep. | ||
| You've got to get a good night's sleep. | ||
| Get the MyPillow 2.0 that's going to let you sleep the sleep of the just in a very unjust world. | ||
| MyPillow.com, promo code WARROOM. You get the MyPillow 2.0 that Mike Lindell has invented, or maybe even better, reinvented. | ||
| MyPillow 2.0, buy one, get one free. | ||
| Also got the topper, big discounts. | ||
| Okay, massive discounts. Go to our square. | ||
| We're going to take a short break. | ||
| We're going to go from the sublime to the less sublime. | ||
| We're going to talk about a contagion This is a virus that's spread through the American financial system. | ||
| You know, over the last 48 hours, Jamie Dimon, Joe Biden, Janet Yellen, Chairman Powell of the Federal Reserve, has told us nothing to see here. | ||
| It's all solid. Markets are not telling you that. | ||
| Price is truth. | ||
| next in the War Room. | ||
|
unidentified
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This is a test. | |
| This is a test. | ||
| We'll fight till they're all gone We rejoice when there is no more left Let's take down the... | ||
| Okay, um... | ||
| Dave Brat's gonna walk us through some of the... | ||
| This banking... | ||
| Remember, it's all interconnected, and they just can't sit there and tell you, hey, we don't have a problem, it's all solid. | ||
| Right? It's like that last scene in Animal House. | ||
| Right? Nothing to fear her, no problem, boom, the guy gets run over. | ||
| Um... There's something deeply wrong, and it gets back to spending. | ||
| That's why this fight is so big and so important. | ||
| The Biden spending led to the Biden inflation that led to the Biden Fed having to jack interest rates to try to choke it down. | ||
| That led to the Biden bonds. | ||
| The bonds dropped 80%. | ||
| The unrealized losses, it flipped up the balance sheets. | ||
| Of these banks, plus consumers or customers started leaving, taking their deposits out, going to higher returns. | ||
| And it's led to this in the regional banks. | ||
| And now, as we know, we said the commercial real estate business is 80 % financed by the regional banks. | ||
| And you've had the Silicon Valley banks that had these massive jumbo loans to all these dirtbag entrepreneurs. | ||
| And you had three of them all tied to Silicon Valley Bank, Signature, and First Republic. | ||
| Boom! They're all gone. | ||
| And you're paying for it. | ||
| Don't let them lie to you. And now they said, well, that's, you know, Jamie Dow, it's good now. | ||
| We finished that. It's all fine. | ||
| You know, because he's buying and getting all the upside, and you're eating the losses. | ||
| They're socializing. | ||
| They're mitigating risk. | ||
| They know how to mitigate risk. Here's how they mitigate it. | ||
| Go look in the mirror. Just write on your mirror, mitigation, and so you can see, you're the mitigator. | ||
| You're mitigating the risk of the wealthy. | ||
| They're getting the upside, and you're mitigating risk. | ||
| So we got a... | ||
| And now with commercial real estate collapsing, and that's because the city centers are out of control with the anarchy of the source-backed DAs. | ||
| It's not surprising this is happening, and the lockdowns, and now the economy's So the tech companies that were buying all the space, oh, you know, either work from home or you're laid off. | ||
| So you're in a vicious cycle. | ||
| And all they're doing is every day is another line and a spin in a... | ||
| This is why Biden, I don't think, is going to be their guy. | ||
| This is why, you know, Robert Kennedy is at 21 % with no money, not even a campaign platform. | ||
| And he's going to cut... | ||
| And they said, oh, when the debate started, it won't be at 21%. | ||
| Well, they're not going to have debates. | ||
| They've shut that down. | ||
| I'm going to get a guy in here tomorrow, I think we're going to try to do it, to walk through Michelle Obama, because Michelle Obama's like a specter over that whole thing. | ||
| Don't think the Obamas, Susan Rice, don't think the Obamas are not sitting here. | ||
| You don't think they're going to give up the administrative state and the deep state. | ||
| Under no circumstance they're going to let Donald John Trump return to the White House. | ||
| Okay? The whole apparatus is against him. | ||
| The entire apparatus is against him. | ||
| From the Murdochs to the Obama to DOJ to the FBI, all of it. | ||
|
unidentified
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They're all against him. All of it. | |
| Return to Dave Brett. Now make sure you go to, and by the way, Philip Patrick on Saturday, we're going to go through this in detail with the geopolitical situation. | ||
| I'm going to have some top guests on here. | ||
| Do not miss that show. | ||
| Philip Patrick's going to join me. | ||
| Go to birchgold.com slash Bannon. | ||
| This is totally free. Get it. | ||
| The End of the Dollar Empire. | ||
| Dave Brad talked about loving us. | ||
| What we do in showing that, we respect you. | ||
| This is not an easy show. | ||
| We don't give you easy homework assignments. | ||
| We're giving it to you from the economists, from the FT, from the top research places, the top papers, the top thinkers in the world. | ||
| They're all globalists. | ||
| I'm not telling you to agree with them, but you've got to understand how they think, and that's how we break it down for you so that you can come to your own conclusions as a populist, a nationalist, and an American patriot. | ||
| Right now, go to birchgold.com and get The End of the Dollar Empire, particularly the third segment, installment, totally free. | ||
| Download The Debt Trap. | ||
| You can also go online and talk to... | ||
| Look, one of the things we've been breaking here is that central banks have been buying gold with both hands. | ||
| The global south is going to a gold-backed kind of currency. | ||
| They haven't quite figured it out yet, but they got the resources, and we have Federal Reserve notes. | ||
| And the dollar used to be rock solid, but it's not now, and they know it. | ||
| They get the joke. | ||
| They're doing a devaluation on you. | ||
| They're doing a devaluation on you Every day, the American citizens, they're devaluing your currency, and they're saying, hey, if they do it to their own citizens, they're certainly going to do it to us. | ||
| We have the resources. Maybe we get gold back, and maybe we saw what Putin did when they tried to take down his central bank and tried to take down his currency, something they didn't even do with the Nazis, tried to do it, and he just said, hey, I'm going to peg the ruble to gold. | ||
| Suck on that. Dave Brat, walk me through this contagion. | ||
| This regional bank thing, and it ain't gonna get better because commercial real estate's not gonna get better. | ||
| And remember, two-thirds to eighty percent of the loans in commercial real estate and almost a hundred percent of the loans to the small business guys and the entrepreneurs out there are all done by the regional banks. | ||
| And you're seeing a credit restriction right now. | ||
| This is gonna exacerbate the implosion that is upon us, Dave Brat. | ||
| Yeah, I've got charts that back up that signal. | ||
| But first, I want to start off with a Fed commentary, which was a tremendous signal. | ||
| They said, and this is not a Saturday Night Live skit line, they said yesterday, the banking sector is fine, but we're not sure about the credit. | ||
| That is the banking, right? | ||
| Banking is credit. | ||
| That's what they do. And they honestly, in the same paragraph, said The banking system is fine, meaning they don't think the mid-size is going to spread to the bigs. | ||
| But then they said, but the credit piece we don't quite get. | ||
| So I've got a few charts here. | ||
| Let's start with the chart one, Denver. | ||
| And it basically is the bomb. | ||
| We're currently seeing the largest decline in U.S. commercial bank deposits since 1934. | ||
| Right? Look way to the left and then look way to the right. | ||
| And there's the bomb. We're currently seeing the largest decline in bank deposits, commercial bank deposits since 1934. | ||
| That's new. Whenever you see a chart like that, we gotta study it. | ||
| Hang on. Hang on. | ||
| Stop. Ho, ho, ho, ho. | ||
| No more charts. | ||
| I got a hole in that chart. | ||
| Yep. I want you to go back and hit that again. | ||
| And here's why. Remember the movie, Bonnie and Clyde? | ||
| Yeah. When Bonnie and Clyde out there in West Texas, in Texas, they're going around robbing banks. | ||
| The first, I think, two or three banks they rob, they go, hey, buddy, we're not a bank anymore. | ||
| We closed down, right? | ||
| Depositors all ran and had a bank run. | ||
| 34, you know, everything's in 1929 when the stock market crashed. | ||
| Hey, the worst part of the depression was all to come. | ||
| 32, 30. This one brought Roosevelt to power. | ||
| 34. Give me that again. | ||
| Since 1934, what is this day, Brett? | ||
| Let's get this chart up there. | ||
| For everybody who's on the podcast or on radio, this is why you've got to go to worm.org, sign up, get all the charts, get all the videos. | ||
| Give it to me again, Brett. Yep. | ||
| We're currently seeing the largest decline in U.S. commercial bank deposits, right, run on the banks, decline in commercial bank deposits since 1934. | ||
| That is staggering. | ||
| That's a result of Federal Reserve policy. | ||
| In the next chart, we can get to that one if you want to move on. | ||
| Sure. Okay, and so here you see- Hang on, is everybody having a good morning? | ||
| You're having a good morning in the war room? | ||
| No, seriously. | ||
|
unidentified
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Look, we wouldn't do this to you if we didn't know you had big shoulders. | |
| Yeah. Right? You're the creditors committee. | ||
| Hey, sometimes you got to tell the creditors committee bad news. | ||
| Yeah. Here's a reality check. | ||
| And this is why next week when they're over there at the White House drinking coffee off the fine china and they're all talking and, you know, oh, these cuts are so terrible and today they're going to put out eight million people out of jobs. | ||
| Give me the alternative. | ||
| Yeah. Remember, they're only cutting the rate of growth. | ||
| They're not taking the meat eggs. | ||
| They let Brad Bannon Cortez Navarro, you let us at it with a meat axe. | ||
| We show you some cuts, right? | ||
| Which you have to do because this is what you end up with. | ||
| They disassociated with it. | ||
|
unidentified
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No, this is the problem. | |
| The spending is not a benefit. | ||
| The spending is a liability. | ||
| Dave Brett, continue on, sir. | ||
| Yeah, the next chart, if you just look at the gray bands going up and down at about 2000, right? | ||
| The blue line, when it goes below zero, you've heard this phrase, you have an inverted yield curve. | ||
| Well, you see that blue line go right after 2000, go down below zero, and then you get the gray band, which is a recession. | ||
| Same in 2005-2006. | ||
| The Fed prints a ton of money. | ||
| They invert the yield curve. | ||
| And then you get a wider gray band, the 08-09 financial crisis, recession. | ||
| Right now, look to the far right. | ||
| You think you had an inverted yield curve problem back then. | ||
| Look, we're still nosediving, going straight down. | ||
| So what do you think comes next? | ||
| And then the last slide, here's the bomb on the research. | ||
|
unidentified
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Hang on. Slow down, Professor. | |
| I'm one of the dumb kids sitting up on the sky deck, normally reading the sports section, but I know this is going to be on the exam, so I've got to ask the question. | ||
| The inverted yield curve, here's why it's always a forecaster of a recession, because they're charging more for short-term money than long-term money, which is obviously not logical. | ||
| The greater time out, you would want to charge more. | ||
| It's inverted. And that's why this is always used by the guys in Wall Street as a leading indicator, the macro guys, to say, trouble ahead. | ||
| Trouble ahead. Tell me about this inverted yield. | ||
| Give me some observation on this inverted yield curve. | ||
| Well, the basic idea related to credit and banking and the Federal Reserve is if you have an inverted yield curve, like you just said, that's how banks make money. | ||
| That's what caused all the problems with the five banks we've seen so far. | ||
| They went long to grab a little bit more yield. | ||
| They locked in at 2 % for 10 years back a couple of years. | ||
| And they're locked in. And so that, you know, on the books, that bond's worth, you know, $10. | ||
| But then when the depositors make a run on the bank and all the money goes out of the bank, then you have to back up your reserves to follow the law and you don't have any deposits. | ||
| And so then they have to sell off that bond and it's no longer at book value. | ||
| It's at market value and it tanks. | ||
|
unidentified
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Everything's upside down. That's what's going on right now. | |
| Hang over a second. Short break. | ||
|
unidentified
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back in a minute with this credit crisis and she'll steven the thank uh... | |
| members of the engine room that have been uh... sending me information in the last couple minutes given the the tone of the show about this is national this is the national day of prayer And so we absolutely agree that prayer is the greatest thing we've got going. | ||
| But make sure I think today, Ed, in your prayers that you use your agency and instrumentality. | ||
| We're not going to pray this away. | ||
| Divine providence works through human instruments. | ||
| That would be you, by the way, as we put this burden on you. | ||
| And it even shouldn't be a burden. | ||
| I mean, think about it. | ||
| In all human history, in all the history of this, our beloved republic, you were born and here today in its moment of greatest crisis. | ||
| And this is its moment of greatest crisis. | ||
| President Trump said that the other day in the conversation we had at Mar-a-Lago. | ||
| There's a no doubt And quite frankly, we're on now into a path. | ||
| we've opened a Pandora's box because of the short-sightedness of man. | ||
| Then you just read the Old Testament and read the New Testament, particularly the Old Testament. | ||
| Right? Time and time and time and time and time again, false idols. | ||
| Got another false idol, technology. | ||
| And men and women who think they're gods. | ||
| Right? So, National Day of Prayer. | ||
| Okay, from the sublime, once again, back to the less sublime, because we've got a lot of work to do here. | ||
| Let's get this up on the chart and go back to Brad. | ||
| This is from the Kobayesi letter. | ||
| It's up on Twitter. Very smart people on Wall Street. | ||
| I want to read this. They just put this up last night. | ||
| And Grace and Mo were good enough to get it to them with a bunch of other stuff they got. | ||
| Number one, interest rates at their highest since 2006. | ||
| Number two, and this is important, write this down with your number two pencil. | ||
| Credit card debt set to cross $1 trillion for the first time. | ||
| $1 trillion credit card. | ||
| You don't think people are tapped out. | ||
| Number three, multiple regional banks on brink of collapse. | ||
| PacWest. Number four, regulators believe, quote, the system is strong. | ||
| The system is strong. | ||
| Five, one month away from a U.S. default on the debt. | ||
| Now, we know that's the regime trying to play with us. | ||
| But that's where we are in the financial part of this. | ||
| And remember, they're going to have a chat. | ||
| And look, I give a hat tip to McCarthy to get to 218, but the moderates in the Republican Party and the rest of you got to start listening to Burchett, got to start listening to Biggs and to Rosendale and Gates and these others. | ||
| You got to join reality. | ||
| Just because the press is going to say, oh, you're cutting this, hey, we're on the edge of a collapse. | ||
| Of course, Jim Kramer yesterday, he's putting out, hey, I think it's the greatest I've ever seen. | ||
| Just go inverse Kramer on me, baby. | ||
| How's that market doing today? | ||
| How's the bond market doing? | ||
| Dave Bratt, continue on, sir. | ||
| Yeah, well, just to follow up on the list you just gave us, Another institution that is just morally bankrupt right now is the economist class. | ||
| I have one exception here, but you don't see the economist class, Harvard, Yale, Princeton, even Chicago, dealing with the issues of the day having to do with economic populism that you cover along with your host and co-hosts. | ||
| $50 trillion in debt, it seems like that might have an effect on the economy. | ||
| $2.5 trillion in interest payments a year in 10 years, that might affect investment. | ||
| An open border might have a profound impact on black, brown, blue-collar workers, wage rates. | ||
| China policy, have you seen any of this from the economist class? | ||
| Nothing, just AWOL. Good news is Stanford Business School has produced a paper, and if Denver wants to pop up the next chart, This graph, I'll explain what it means, but markets are finally waking up to the fact that a large portion of the banking system is potentially insolvent. | ||
| It's not just a few banks, and I'll explain what all these dark blue squares mean. | ||
| In this Stanford working paper, this is the chart they provide in the back of the appendix, the US banking system Market value of assets is $2.2 trillion lower than their book value. | ||
| That's what we're talking about. That's the error that the Federal Reserve System has created. | ||
| The market value when they go to sell their bonds when there's a run on the banks is $2.2 trillion lower than suggested by their book value, right? | ||
| The accounting book value that they have on their books. | ||
| Even if only half of the uninsured depositors decide to withdraw, right? | ||
| So just a half run on the banks. | ||
| Almost 190 banks with assets of $300 billion are at potential risk of default impairment. | ||
| And bottom line, look at that map, these are the banks, any of the dark blue squares you see are in the top 20 % of banks that are in the default range. | ||
| So this is not a few banks. | ||
| Every dark blue square you see is a potential bank at risk of default. | ||
| And obviously when that happens, the interest rates are still going up. | ||
| People quit buying homes. | ||
| Businesses quit investing. | ||
| We got a recession coming up within a few months. | ||
| And then you just pray that it's not a crash landing and a credit crisis like we've never seen before, judging by that inverted yield curve. | ||
| I think it's Christopher Whelan wrote the book Lords of Easy Money. | ||
| We've had him on here before. | ||
| The other day they had something about the Fed and the banking system. | ||
| I think it was a Reuters or Associated Press article. | ||
| It was a wire service. And in there, there's all this happy talk from the economists, and Whalen, who has studied the Federal Reserve probably closer than anybody, any modern writer, said, I don't know what people are talking about, but we've got a regional bank crisis, and it's big, and you better be prepared to deal with this. | ||
| And quite frankly, here's the scary thing. | ||
| Between Yellen and Powell, I mean, there's no credibility to these guys. | ||
| Right. There's no credibility in Yellen. | ||
| There's no credibility in Powell. | ||
| There's no credibility in Biden. | ||
| This is only going to get exacerbated. | ||
| Of course, Biden's sitting there going, no, no, you can't. | ||
| I want a debt ceiling increase. | ||
| And what Brad just said, tell me, let's go to the end and work back. | ||
| Tell me how you're going to handle the $50 trillion. | ||
| If we just give you a clean debt ceiling, they've got these Democrats running around right now. | ||
| They're trying to do the 14th Amendment, and they're running around saying we're going to do some legislation to just take the debt ceiling away. | ||
| The debt ceiling, dude, we're not idiots. | ||
| That's our leverage. We're not going to let you take it away. | ||
| We're going to grind you down with it. | ||
| We're going to grind you down with it. | ||
| We don't care if you don't like it. The spending's a liability. | ||
| It's not a benefit. | ||
| And you're crushing the American people. | ||
| You're crushing citizens of this country. | ||
| You're crushing them as you're exacerbating an invasion on the southern border. | ||
| Brett, how do people... Amazing job, sir. | ||
| How do people get to you? Fantastic job this morning. | ||
| Yeah, and I've got some of the lingo that goes with these charts if you want it. | ||
| Please share it with your families and kids. | ||
| BRAT Economics on Getter. | ||
| And everyone always talks about the children, the love for the children. | ||
| We love children. | ||
| Look at what we're doing to our children. | ||
| It's just a moral catastrophe. | ||
| Now, hang on for a second. That's what's got to be dealt with now. | ||
| Look, all the easy choices are gone. | ||
| There's no easy choices. | ||
| There's gonna be some hard choices. | ||
| Right. And guess what? All the people said, we can't talk about raising taxes. | ||
| Hey, all the wealthy and super wealthy are all woke Democrats, are woke established Republicans. | ||
| Why would I not increase their taxes? | ||
| I'd do it in New York second. | ||
| In a New York second. | ||
| They don't support you. | ||
| They hate you. | ||
| They helped cause this mess. | ||
| They benefited from all the Fed activity. | ||
| Why wouldn't we carve some of that back? | ||
| Oh, you can't talk about raising taxes. | ||
| Oh, yeah, Ken. | ||
| And we shall. This problem's got to be dealt with somehow. | ||
| It's not going to go away. | ||
| You're not going to wish this away. You're not going to wish the invasion of the southern border away. | ||
| You're not going to wish away the CCP and this war on the Eurasian landmass right now. | ||
| You're not going to wish away the Mullahs in Persia. | ||
| You're not going to wish away the KGB. You're not going to sit down. | ||
| You're not going to wish away the invasion of the southern border, what it's done to our country, and the fentanyl war, and the second opium war of the Chinese Communist Party. | ||
| You're not going to wish any of it away. | ||
| It's your agency that's going to do this. | ||
| And the AI. This is why we bring it to you. | ||
| You're the salvation of this country. | ||
| You. This audience. | ||
| Not Tucker Carlson. Not Steve Bannon. | ||
| Not Donald Trump. You. | ||
| Not MTG. Not Matt Gaetz. | ||
| Not Jim Jordan. | ||
|
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You. You. | |
| When you finally have determined that, yes, we must save it and here's what we have to do. | ||
| It's going to be saved, and only until that moment. | ||
| Brat, one more time, how do people get to you? | ||
| Yeah, thanks, Steve. Brat Economics, B-R-A-T, Brat Economics on Getter. | ||
| All economics, all charts, all day, also on the third floor of Business School, Liberty University. | ||
| Come on up and visit. | ||
| Love seeing the War Room friends come on up with their young scholars. | ||
| God bless you all. Have a great day. | ||
| Keep the faith. Thanks, David. | ||
| And thanks for going through your... | ||
| I know you had to get out earlier. Thanks for sticking around for us. | ||
| I've got a Terry Schilling thing. | ||
| I've got our own Ben Harnwell in Rome. | ||
| I want to deal with some things here for a second. | ||
| Number one, you've got the Birch Gold. | ||
| I want you to get the information so that you can be a better member of the Creditors Committee and chairman of the Creditors Committee. | ||
| But I also want you to talk... | ||
| And look, I've never been a gold guy. | ||
| But what they've done over the last three years in destroying the dollar, and we had in the conversation of President Trump, we take...and by the way, there's a lot of obligation that comes with being the prime reserve currency. | ||
| I admit that. | ||
| And if we don't want to be the prime reserve currency, that is a decision we can make as a nation in a logical manner. | ||
| That's not what's happening here. | ||
| That's not what's happening here. | ||
| The world is revolting against the radical Biden regime and what they're doing. | ||
| Because they're saying, hey, the American citizens are sitting there taking it, getting a rolling devaluation, but we're not. | ||
| Because we've got these resources, and these resources are limited. | ||
| We're going to max the value of them. | ||
| So they're going to essentially a gold standard. | ||
| That's why these central banks are buying gold at greater rates than they've ever bought. | ||
| And Philip Patrick will be back on Saturday. | ||
| We're going to break it down. But that's why you ought to immerse yourself in information right now. | ||
| Immerse yourself in information. | ||
| You're free men and women to make these decisions, but you have to get the information. | ||
| Go to birchgold.com right now. | ||
| The drone attack situation has even gotten bigger today because you got this kind of weird non-denial denial by the U.S. government, and now it's like bizarro land. | ||
| Was it a drone strike? | ||
| Was it an assassination attempt? | ||
| Was it not? The Russians hit back hard. | ||
| But one of the things there is on cyber, and this is another thing I want you to start checking boxes. | ||
| Let's get the burden off you. | ||
| Right now with this economy, remember, 80 % of your net worth in all likelihood, or 90%, is tied up in your home. | ||
| We try to build this economy around home ownership. | ||
| The last thing you can afford right now is not paying attention and have one of these cyber guys. | ||
| Remember, they're stealing $600 billion a year, half of it by cyber, the Chinese Communist Party. | ||
| The Russians and the guys, these are the most advanced cyber guys in the world. | ||
| And they're not all good actors. | ||
| Right now you have to make sure that your home title has not been taken in a second mortgage. | ||
| Just think of your situation right now. | ||
| Somebody went into your home, either took the title and sold the home, but let's just say they put their name on it and were able to take out a second. | ||
| They took a $100,000 second mortgage out. | ||
| How would you get your math out? | ||
| Get your number two pencil, work through your math on how that would be when the bank comes to you and say, hey, I don't want to hear that it was taken. | ||
| Right? That's your responsibility. | ||
| Pay me back. Right now you don't need additional burdens. | ||
| We want to do risk mitigation. | ||
| We're in the risk mitigation business. | ||
| We want to get burdens off you. | ||
| You know why? Because you've got to stand and fight for your country. | ||
| Go to Home Title Lock today and get the information. | ||
| Check it out. See if it's right for you. | ||
| If it's right for you, if you put in Bannon, you get 30 days free. | ||
| But we need you to take burdens off yourself. | ||
| It's a quick check to do. | ||
| I've got the very patient Ben Harnwell that's been with us. | ||
| Also, Terry Shillings in Budapest gave a barn burner today. | ||
|
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Let's try to get all of it in, in the D-block, in the war room. | |
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| Download now. | ||
| Okay, we've got a lot going on. | ||
| Charlie Kirk's going to follow us at noon. | ||
| We've got a lot of stuff we want to play from Hungary. | ||
| I mean, there's so much we had planned for the show today, and we didn't get to it. | ||
| Join us back here 5 to 7 tonight, and we'll try to get to it all. | ||
| I mean, we had MTG clips. | ||
| We had the Sequoia situation, Capitol situation, MTG, and others on this investigation of Biden. | ||
| You know, oh, by the way, they caught him directly. | ||
| With a foreign national cutting deals in the VP, and you can't even fit that into the war room in two hours. | ||
| There's too much going on. | ||
| Ben, I've got, and like with H, home title lock right there, it's about unrestricted warfare. | ||
| That's the cyber and information part of it, unrestricted warfare, the manual. | ||
| And I tell people, you know, Hitler wrote Mein Kampf and told you what he was going to do. | ||
| And nobody really read it or paid attention to it because he laid out his plan. | ||
| The same thing with the Chinese Communist Party in the late 1990s. | ||
| Unrestrictive warfare lays out how they're going to take down the West. | ||
| Part of that is cyber. And cyber is just in its infancy then. | ||
| That's why you've got to check everything in your home about your communications, all of it about cyber. | ||
| You've got to check. Just go check your title to your home. | ||
| Make sure that's secure. | ||
| Don't put that burden on your shoulders at HomeTitleLock.com. | ||
| FT's got a great story about Apple and about unrestricted warfare on supply chains that haven't been sorted out yet. | ||
| By the way, it gets to the JS Medical also, which talks about getting your antibiotics now. | ||
| And not have to depend upon the CCP supply chains, which we still haven't done anything on the API. We still haven't done anything really about bringing the supply chain back. | ||
| That's why we need Trump back immediately. | ||
| His efforts have all been thwarted by Biden and by the Republican establishment. | ||
| But Ben, we got this situation. | ||
| We had Rebecca Koffler on yesterday and people were dismissing, oh no, it's just a rumor. | ||
| It's not a rumor. Something happened. | ||
| We can't figure out what happened, but something happened on this drone strike. | ||
| And I want you to bring up what the White House said about it because they've had, I think, more confusion to this Ben Harnwell. | ||
| Well, there's confusion and multi-faceted recriminations coming in from every direction. | ||
| Our interest is the White House's statement earlier, which hasn't been widely picked up, but it said that in an unusual choice of words, the White House said that the US had been unable to independently verify Ukraine's denial of involvement. | ||
| In the strike, the drone strike on the Kremlin. | ||
| But you know, Russia's blaming the US, The US is actually, interestingly enough, in addition to the statement that I just quoted before, is now pushing very heavily, and you'll see this across the media, this idea that it's actually Russia that was involved in some kind of false flag operation, putting a drone in on themselves in order to give themselves the pretext to then come out and attack Zelensky. | ||
| By the way, that's not beyond the KGB to do that. | ||
| By the way, they hit Kiev with a big strike overnight, but it's not beyond that. | ||
| You think the administration, you think the regime would be able to lay out kind of what happened. | ||
| Can I bounce back off? | ||
| No, well, Steve, can I bounce back off? | ||
| Sure, sure, it is absolutely, it ought to be there under consideration. | ||
| But I finally, after years of studying intelligence agency operations, I've now finally found an intelligence agency Intelligence Agency operation, which is a conspiracy theory that the White House is willing to look into. | ||
| Because every time the US's own intelligence agencies have been doing this kind of thing, you know, it's just been dismissed as cuckoo talk. | ||
| But now, finally, finally, obviously it's got to be the KGB that needs to be brought into question here. | ||
| But finally, they've found a conspiracy theory that they're willing to look into. | ||
| No Steve, I have to say, this reminds me, this has a hint of two things, two elements that we possibly will be very familiar with. | ||
| The one you remember last year in, forgive my pronunciation, Przewodow in Poland. | ||
| When a stray missile killed two farmers, and Zelensky, this is on the Polish side of the Polish-Ukraine border, and Zelensky came in straight away, tried to usher in a nuclear arm again, saying, you know, now NATO needs to activate... | ||
|
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He lied. It was Ukraine, Steve. | |
| It was a Ukraine missile, right? | ||
| So the very people who are telling us, oh, this is a false flag. | ||
| Okay, my point is this is metastasizing before us. | ||
| We're going to be on it. Ben, hang on for one second. | ||
| Also, the reason to go to Birch Gold today and talk to an advisor. | ||
| Birchgold.com slash Bannon. | ||
| Get one of the advisors on the phone. | ||
| Talk about your IRA, 401k. | ||
| PacWest, I think, is down another 50%. | ||
| The market overall is down 400%. | ||
| And this is just not, you know, things happen every day. | ||
| But Western Alliance Bank, I think, is now down 50%. | ||
| They've just announced, I think, they had a failed sales operation. | ||
| You've got to talk to your financial advisor and say, hey, what's going on with these regional banks? | ||
| I'm feeling a little jiggy because I don't think that the Federal Reserve, Jamie Dimon, I don't think is being straight with me. | ||
| Powell, I don't think, is being straight with me. | ||
| Janet Yellen, I don't think she even knows. | ||
| She's so out of it. I don't know how she thinks, you know. | ||
| And can you trust anything she says? | ||
| If she's over, Kiev wants to give them. | ||
| And by the way, didn't we give Kiev, I think, another $300 or $400 million last night? | ||
| Just put that in your notebook. | ||
| Log that. Ben, how do people get to you? | ||
| We'll have you back on. This thing in Ukraine is starting to metastasize in a quite ugly way as the quote-unquote spring offensive gets ready to kick off. | ||
| Where do people get you, sir? | ||
| Thank you so much, Steve. I'm on Getter as my social media platform of choice. | ||
| It's simply my surname, my profile, at Harnwell, and I'm also pushing out original content exclusively in the War Room newsletter. | ||
| That's going to be found on warroom.com. | ||
| That won't be on my Getter feed, but it will be there, so you do need to subscribe to that newsletter. | ||
| Steve, at some point, I do hope to come back to discuss this unrestricted warfare Yes, we'll get to it. | ||
| In the FT, it's very important. | ||
| No. Very important. | ||
| Apple's a Chinese company. | ||
| We're going to break all that down. | ||
| We've had enough joy for one day. | ||
| Remember, we wouldn't put the burden on your shoulders if your shoulders couldn't take it. | ||
| Charlie Kirk, next. | ||
| We're back here at 5 to 7. | ||
| We're going to go through the investigations, the financial, all of it. | ||
| See you back here at 5 o'clock, only in the War Room. | ||
|
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We rejoice when there's no more. |
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