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July 26, 2023 - Bannon's War Room
47:48
WarRoom Battleground EP 340: Largest Increase On Interest Rates At Any Period Of Time
Participants
Main voices
m
matt gaetz
07:07
s
steve bannon
29:47
Appearances
j
jerome powell
02:15
Clips
a
alejandro mayorkas
00:09
| Copy link to current segment

Speaker Time Text
steve bannon ▲ ● ▼
This is what you're fighting for.
I mean, every day you're out there.
What they're doing is blowing people off.
If you continue to look the other way and shut up, then the oppressors, the authoritarians, get total control and total power.
Because this is just like in Arizona.
This is just like in Georgia.
It's another element that backs them into a corner and shows their lies and misrepresentations.
This is why this audience is going to have to get engaged.
As we've told you, this is the fight.
unidentified
All this nonsense, all this spin, they can't handle the truth.
War Room Battleground.
Here's your host, Stephen K. Bannon.
jerome powell ▲ ● ▼
We haven't made a decision to go to every other meeting.
It's not something we've looked at.
We're going to be going meeting by meeting, and as we go into each meeting, we're going to be asking ourselves the same questions.
So we haven't made any decisions about any future meetings, including the pace at which we'd consider hiking.
But we're going to be assessing the need for further tightening that may be appropriate.
You read the language, to return inflation to 2% over time.
I would say that the intermeeting data came in broadly in line with expectations.
Economic activity remained resilient, job creation remained strong while cooling a bit, and the June CPI report actually came in a bit better than expectations for a change.
And the June CPI report, of course, was welcome.
But it's only one report, one month's data.
We hope that inflation will follow a lower path as it will be consistent with the CPI reading.
But we don't know that, and we're just going to need to see more data.
So what are we going to be looking at?
Really, it will be the broader, the whole broader picture.
And starting with, we're looking for moderate growth, right?
We're looking for supply and demand through the economy coming into better balance.
including in particular in the labor market.
We'll be looking at inflation.
We'll be asking ourselves, does this whole collection of data, do we assess it as suggesting that we need to raise rates further?
And if we make that conclusion, then we will go ahead and raise rates.
So that's how we're thinking about the next meeting and how we're thinking about meetings going forward potentially.
But, you know, we're now mainly thinking about the next meeting.
I will also say, since we're talking about it, between now and the September meeting, we get two more job reports, two more CPI reports.
I think we have an ECI report coming later this week, which is Employment Compensation Index, and lots of data on economic activity.
All of that information is going to Inform our decision as we go into that meeting.
I would say it is certainly possible that we would raise funds again at the September meeting if the data warranted.
And I would also say it's possible that we would choose to hold steady at that meeting.
We're gonna be making careful assessments, as I said, meeting by meeting.
And I'll close by saying we've raised the federal funds rate now by 525 basis points since March 2022.
Monetary policy, we believe, is restrictive and is putting downward pressure on economic activity and inflation.
unidentified
Moments ago, Senate Minority Leader Mitch McConnell had to be escorted away from the cameras after freezing in the middle of his opening remarks in his weekly leadership press conference.
I want to watch that moment.
Then we'll talk.
It's been good bipartisan cooperation.
And a string of...
Anything else you want to say?
Do you want to say anything else to the press?
All right.
Go ahead, John.
I want to bring in NBC's Ali Vitale.
He's standing by for us with this.
Ali, he did come back minutes later to answer some questions.
Do we know what happened?
Not yet, and he did come back and spoke with reporters, was able to take questions.
One reporter asked him about that moment that you just played there, concerning moment during his press conference, as he was just a few seconds into talking with reporters, as he does on a weekly basis here.
When the reporter asked him about that moment, he simply said, I'm fine, and he moved on.
He spoke for the rest of the press conference in his normal, somewhat muted tones, but reporters who were around him Before that moment happened, it really was very jarring.
You can see the looks on the faces of senators around him, including Senator John Thune, who was standing just over McConnell's shoulder.
Senator John Barrasso, the number three Republican, coming over to him on the side, as you showed there, asking if there's anything else that he has to say to the press, or if he just wants to go back to his office.
That's what happened in the moments after he left that press conference.
We saw Senator Joni Ernst, another member of Republican leadership, do the sign of the cross, almost as if she were praying for him during a moment that could have been potentially scary.
But look, this is not the first time that there have been questions about the Senate minority leader.
We know that back in March, he suffered a fall at a hotel here in Washington, leaving a fundraiser.
That left him out of Washington for several weeks.
He was home recovering from a concussion and fractured ribs.
Of course, he's back in the Capitol now.
And look, When he walks around here, we do see him sometimes walking with the help of aides.
His office, we are waiting to hear if they have anything else to provide.
One of his spokespeople just said they'll get back to us, but clearly they are meeting and trying to at least figure out how they're going to talk about this with the press.
But I think what's important here to note is that moment seemed concerning.
He was able to come back and continue talking to reporters during this weekly press conference, Yasmin.
steve bannon ▲ ● ▼
Okay, Wednesday, 26 July, Year of the Lord 2023.
Of course, no one, even when I left the White House with President Trump, I gave that interview on 60 Minutes and said, one of my The central reason for leaving was the big, on the outside, take on Mitch McConnell and then Paul Ryan.
So no one's gone up against Mitch McConnell probably more than me, but Senator McConnell, we obviously wish all the best on the health side.
It's an issue, and here's why it's an issue.
Right now in this city, there are so many massive issues that are trying to be addressed.
Um, we have the NDA, we have the appropriation, all of it.
Uh, the Senate is not anywhere near the House, where the House is.
And over the next couple of days before they break, remember these guys are taking off and not coming back till September.
We're going to try to have as many voices on here to talk about exactly where we are on like appropriations and the budget and money and also all these investigations.
Since I've been doing this with Andrew and really getting involved in this back, I guess, in 2009, 2010, the Tea Party Revolt, I have never seen as many huge issues and as many constitutional crises as it is right now.
And this is all before, remember, we just had Mike Davis on here.
I think that thinking of the Trump team is that President Trump is going to be indicted again.
by Jack Smith and a federal grand jury here in Washington, D.C., President Trump and others.
They may just pick President Trump because they want to go quicker, but that and Fannie Willis in a couple of weeks. So this is another massive crisis. The Senate, and there's all types of discussion about where the Senate stands in all these huge issues of spending in Ukraine and the NDAA, and particularly with these impeachment inquiries and investigations.
And today, as we just said, it absolutely exploded in federal court.
And that doesn't even include the invasion of the border, what happened today on human trafficking, what happened today on fentanyl in these hearings.
Senator McConnell, and it's a pretty open secret, ever since he had the fall in March, he took so much time off.
Remember, this guy is not a guy that takes time off.
If you watch House of Cards, they really predicated much of the character of Kevin Spacey and the deviousness, but the 24-hour-a-day maniacal focus on Senator McConnell.
If you're an ally or you're an opponent, No one's ever said that Mitch McConnell is not on This Is His Life and he's a wheeler dealer.
Right now, and you can see right there, and you've noticed it, and I've actually talked to people about it, when he's come to the microphones before over the last couple weeks, you can tell that's not the Mitch McConnell that people know.
There's been a hesitancy when he's addressed the Senate.
There's been a hesitancy.
You see he's lost a step.
There's something going on health-wise, and then today was quite shocking.
I mean, when Joni Ernst, who I think is an Army major or colonel, When she's saying the sign of the cross, and Barrasso and John Thune are coming to his aid and say, hey, let's go back.
And remember, he did come back.
He did make a couple of statements.
He did answer questions.
And he appeared to be at least the new norm for Mitch McConnell.
But there's something definitely going on.
And this is exactly the moment when you need everybody on point.
Everybody on point.
Particularly in the Senate, because we have so much maneuvering on all these bills, you're going to need everybody on point to have really a crisis in leadership, to add on top of everything else that's going on.
So we will monitor that closely.
But clearly, Senator McConnell is, Senator McConnell's ill, you can tell that he would not, a fighter like that would not, would not just sit there and freeze.
And if you saw him, and particularly for the audience that has older parents, Right.
You've seen the, you've seen those types of things happen, happen before.
So, uh, we wish him the best, um, as he goes through this personally, but also in addition, you know, there's gotta be some discussion over there because Schumer and these guys are plotting nonstop and this thing's going to get to a level of intensity, particularly on the appropriations bill and everything is going to go on that this is going to be a, uh, we don't want this to be a bigger train wreck than it is now.
Think about it.
There's so much going on today and we had to leave the six o'clock hour with what happened with the Federal Reserve.
He made a .525 base point.
I think it's been the greatest rise and quickest rise in interest rates.
It's been the highest interest rates in 22 years, but that kind of misses the point.
The point is, and if I can get my Evercrack team to give me a clock here, I could really get the focus.
You know, sometimes these guys take a day or two off and you've got to retrain them.
It's like when I was in the Navy.
Take the weekend off and you've got to retrain.
There we go.
I've got my clock.
I'm happy.
I have a clock.
CNBC had a very good article today and I think we've gotten it to Memphis and we can get this article off and talk about the structure of interest rates.
This is one of the things we've been talking about for a long time.
It's not simply The highest rates in 22, 22 years also misses the point.
Here's the point in 2008.
And if we just keep that, if we just keep this up, And maybe scroll, but I want to keep it up and maybe scroll up and then go back to the top and do it again.
And I want everybody, if Grace and Captain Bannon can get this out, and of course Carly Bonet and the people over at our Telegram, the official site that run it, I would like this article to get up and I want people to read it.
It's not a long article, but it talks about the structure of interest rates, the structure of interest rates.
This goes and talks about the elites in this country.
In 2008, having a crisis that came up in 2008, that's great.
Now we're going to, my clock's, my clock's open, but there we go right there.
We're going to get this down.
We went to negative interest rates.
When I say negative interest rates, they took the interest rates to zero.
And what this article brings up is that we spent years, almost, you know, over a decade At zero interest rates, virtually zero interest rates, essentially free money.
That will never happen again.
Even if we have another crash, I don't think the central banks, I don't think people are going to allow that to happen again.
Because in going to zero interest rates, they made a conscious decision to save the system and to save the system on the back of working class people.
Don't take my word for it.
I'm going to give you some receipts.
Christopher Leonard in that amazing book, The Lords of Easy Money, which we told you about many, many times, goes in because remember, minutes of the Federal Reserve are secured for 10 years.
Now, why is that?
It's nothing.
They don't trust the American people.
Hell, they get alien space beings and alien technology and they've had it for 50, 60 years and they want to keep it under wraps.
They keep the minutes of the Federal Reserve under wraps.
Why?
They should be transparent.
The minutes should come out that day.
They say, well, people have confidence they can talk.
They should be able to talk freely.
In those minutes, in the crisis of 2008 and 2009, and remember, this was both the Bush and then Obama.
Obama just exacerbated it.
It was the Bush regime, Junta, that kind of brought it on.
They went to negative interest rates, and Dick Fisher, as president of the Federal Reserve in Dallas, he said, if we do this, you're going to bail out the wealthy on the backs of the working class, because there won't be any chance for capital formation, there won't be any interest paid on the money market accounts, there won't be any interest paid on the checking accounts, there won't be any interest paid on savings accounts.
And so the little guy's never going to have a chance to kind of get any interest, get any capital, besides the money he can barely scrape by and save himself.
And they said, yeah, well, okay, we hear you.
And yes, that's a problem, but that's a secondary problem.
We got to save the system.
The greatest concentration of wealth, this is when the 1% really became a thing.
Okay?
The 1% really became a thing and it led to this massive concentration of wealth.
And they did it two ways, zero interest rates and also quantitative easing.
This is where the balance sheet of the Federal Reserve had $880 billion, I think it was September 17th of 2008, the crisis with Lehman.
And when President Trump, the day he took the oath of office, it had, I think it was $4.5 trillion, $4.5 trillion on the balance sheet of the Fed.
They had put liquidity in the system, but by doing that, used their prime brokers and the hedge funds to do it.
These guys are making money and propping up the asset classes, stocks, bonds, real estate, things that the working class people don't really have or have access to.
Since that time, it's the 500, this has been the greatest increase, I think, in interest rates in a rapid period of time.
The only other time I can think anything even happened close to this was when Volcker, when they had this stagflation, last time they had stagflation back in the 70s, Volcker was the head of the Federal Reserve.
He went over to the Oval Office, which is a little bigger occurrence than it is now.
Now it's like, oh, the Federal Reserve, the FBI, Justice Department, you can never talk to them.
That's not like it rolled in the old days.
Volker went over for a meeting, and he had, I think, Hamilton Jordan, Jody Powell, and they had Carter with the cardigan sweater, and they're talking, and this thing's in the middle of a stagflation.
You've got the guns and butter, and the economy's all messed up.
You've got the Arab oil embargo.
Jimmy Carter's, you know, upside down and everything.
And Volker's just listening.
You know, he's a six-foot-nine guy, and he always smoked those cheap cigars.
And they're smoking the Oval Office bag.
He's smoking cheap cigars.
He's listening.
He's just listening to these guys, what they're going to do, what's going to happen.
He left, he went over, I think, boom!
I think he hit him with like a, I don't know, three, four hundred basis point hit that afternoon, raised rates to choke it down.
What happened here is because of the spending, the supply chain problems brought on by the CCP.
Because remember, Trump in 2019 had this thing kind of worked out.
We had economy hitting all scales.
And look, I was not, and people know, and the president knows, he and I would have these discussions all the time.
I was not a total fan, a fan of his total package on the tax cuts.
I thought the company should have to have on the repatriation of cash.
If they're going to do stock repurchases, they're going to just play financial games, that doesn't count.
If they're going to play financial games, I love what it's doing.
I got to do these monologues.
I decided to do monologues.
No guests afternoon.
And at this time, the technology, I get my clock going up and down.
I get my thing, but that's okay.
We got it.
We can handle this.
It makes it even more, you know, it's like, it's Zen.
I got to like focus on this while I'm doing this.
President Trump, you know, the tax cuts, but the economy was totally hitting it in 2019.
That fall of 2019, and particularly Christmas 2019, was like right before the CCP hit us with the bioweapon.
The 525 basis points have come because of the supply chain issues, the pandemic, all of it, and particularly this massive spending, this Keynesian just infusion of cash.
Remember, we talked about, if you guys remember from war and pandemic, right?
I talked about, hey, you're going to have a massive drop in aggregate demand.
Remember that?
And we're going to have to bridge that.
You're going to have to have, and President Trump put one of those in, Pelosi blocked the second one, but you're going to have to have kind of Keynesian stimulus to bridge that unique drop in aggregate demand.
You're going to have to do that.
What Biden did was beyond the aggregate demand was coming back, Biden and all these programs, this additional five, six, seven trillion dollars, And we said this back, you know, Navarro, myself, Brad, all of us said this is going to cause tremendous inflation.
It has.
And now to choke it down, they're popping rates.
And today it popped another 25 basis points.
And he said, I'm going to do it again in September unless I can get real data that shows that we're slowing prices down.
And they're pretty upfront about it.
They're slowing down the economy and they mean to slow down the economy to take care of inflation, particularly corn inflation.
The one meeting he didn't mention in this, he says, yeah, we got all these things.
I've got two more job reports in this report.
I think the Jackson Hole meetings are going to be in August.
The Jackson Hole is where a lot of the central bankers come together and have this big confab, a Federal Reserve with a bunch of fat cats come out there, a bunch of big investors, big hedge fund guys.
And they really have, I think, three or four days of sidebars and presentations and breakout sessions, the types of things you see when you go to conferences.
That Jackson Hole meetings, and we're going to get to this, we're going to cover this very closely in August because two things are going to happen in August.
You're going to have the Jackson Hole meetings with the central bankers, and they're going to walk through where this economy is going, because remember, Europe's in a recession right now.
Germany's in a recession right now.
England is in a mini-recession.
Where's the world going?
The CCP, and they lie about every number, they lie about every number, they're in a recession.
How's the United States coming out of it?
Well, hey, it's quite simple.
We're still having a massive Keynesian infusion.
unidentified
Why?
steve bannon ▲ ● ▼
Let's go back and connect the dots.
Because Kevin McCarthy gave him $15 trillion to spend.
Remember, two budget cycles.
Two budget cycles.
$15 trillion with no cap on what the deficit could be.
This is a Keynesian supercharge.
Now that could be, it's modeled at $4, it could be $5 or $6 trillion.
Talk to Russ Bowden, this guy, this could go anywhere, particularly if the economy slows down.
We've already added a trillion since they passed the deal.
Why is that?
Wait for it.
Lower tax revenues.
Where does the lower tax revenues come from?
Particularly capital gains tax.
unidentified
Particularly capital gains tax.
steve bannon ▲ ● ▼
So while this is all going on, you've got also almost at the time of the Jackson Hole meetings, what else do you have?
This is not random.
This is not random.
There are no coincidences.
You have the Durbin pact or the Durbin Accords.
Well, we've been talking about with Birch Gold that the alternative currency, and Paul Krugman and these guys are absolutely incorrect.
We're not saying that that's going to be a viable alternative for the dollar day one.
But it's the first time that they've been self-organizing.
Why have they been self-organizing?
Because of what Powell and those guys are doing, but particularly Particularly the drop in purchasing power.
This is what has the United States.
And this is why every night they're on MSNBC and CNN and said, I don't understand the economy is in such great shape.
Why is Biden not getting more credit?
Why are people not singing high heels on this?
He's not selling enough.
He's not selling his infrastructure program enough.
He's not selling this enough.
He's not out there making the case.
No, their lived experience.
You don't have to tell that you can't sit there and tell American people it's fabulous.
This thing is great.
You should be thankful.
Can we throw more money your way?
They know it's not.
Their purchasing power is going down.
Their core inflation and that doesn't include what energy and rent.
The lived experience of their lives is a fiasco right now.
They get that.
Now the difference is they don't have the power.
They don't have the power right now to do anything about it.
But the people in the BRICS nation, Brazil, Russia, India, China, and South Africa do, and what they're saying is that, hey, two things.
Number one, we've seen how you used economic warfare to go after the Russian central banks, which you didn't do to the Nazis, and we saw what you tried to do to the Ruble that you didn't do to the Nazis and the Deutsche Mark.
And we saw what you did in sweeping all the cash reserves, all the central banks just swept their cash reserves in the United States.
We have them now in Russia.
You kept billions of dollars of reserves with us.
We just swept it and took it, which you never did to the Nazis or never did to Imperial Japan, but we did it.
And they cut them from the Swiss system.
And look, I argue all the time for economic warfare.
Economic warfare is unrestricted warfare and we should be doing it, the CCP is doing it to us, but you can only use these weapons At certain points in time and you must come in and they must have an impact.
You can't play namby-pamby and that's what the Biden regime did.
And so these guys saying, you got the Swiss system, we want to get off that.
We want to be able to do transactions.
You've got this, we're hooked, we're addicted to the dollar.
If you do a drug deal in Thailand, or if you give to a monastery in Nepal, everything's transacted in dollars.
Eventually you convert the dollars to do it.
They want to get off that.
And the CCP, who's the brains of the operation and back all this, are organizing these people, including people who used to be our former allies, like Brazil now with Lula, like India with Modi.
Modi is still a huge ally of the United States.
But the circumstances, of course, and the simple circumstances of saying, hey, Your elites are irresponsible.
Your elites run these massive deficits and the only way you can do it is because your export is the dollar.
It's the prime reserve currency.
We need to have that.
That's why you can keep doing it.
If we stop being the prime reserve currency, we'd be like Argentina.
And they know that.
And they see, I think it's been a 17% decrease in purchasing power just in the last 24 months of when Biden's taking office.
unidentified
17%.
steve bannon ▲ ● ▼
17%.
And they're not going to tolerate it anymore.
Go to birchgold.net.
We started two years ago with Phillip Patrick and the team to talk to you about the precious metals and particularly the end of the dollar empire.
This is another one of my call shots.
I said, this is going to happen because these folks, you know, I went to HBS.
They all went to HBS.
They got people went to Stanford and Sloan and, and, uh, and to university of Chicago and Wharton school.
They got plenty of bright people, London school of economics.
They got plenty of bright people and they all got the HB12C.
They can all do discounted cashflow and they're not going to sit there and just take it.
Particularly when they have this thing called natural resources.
When they have the wheat and the coal and the tin and the oil and gas, they're not going to take it.
And that's where we are today.
The structure by once you read this, this, uh, this CNBC article talks about the key thing is not the, just the it's as I tell people, it's never just the point.
It's the slope.
Young analysts are young people.
When you work in an investment bank, you train them.
It's about trends.
It's about directions, about momentum.
It's about where's things going.
It's not simply the point on the chart.
It's the slope.
And here you have something the rest of the world's just tired of it.
And what they show there, what the CNBC article talks about is the structure, your credit card, your mortgages, everything used to be at zero.
It's exploding.
And the lower down the food chain you are, but you still have credit, it's going to explode more.
This is going to be a central issue.
Because even the jobs you're talking about, besides the misrepresentation, the inflation is higher than the wage increases.
So you're losing money the harder you work.
That is patently unfair.
But, and they're all talking right now, you hear the guy at the Yale School of Management, they're all talking about this is the greatest thing since FDR, the greatest government intervention since FDR.
For the elites, it's working out pretty well.
For the working stiffs, that would be you.
Maybe not so much.
Okay, we're gonna take a short commercial break on the day the interest rates went up to the highest level in 22 years and the quickest rise I think since at least Paul Volcker.
We found out their federal government got alien aircraft and maybe a couple of three aliens.
How's that set with you?
And of course, they ain't telling Congress or anybody about it.
Short commercial break.
We're gonna be back in the war room in just a moment.
unidentified
You love me. Do not hasten to bid me adieu.
Battleground with Stephen K Bannon.
matt gaetz ▲ ● ▼
Two million encounters and releases under your watch.
So not including the title 42 expulsions, not including violent criminals.
Of those two million plus that you've encountered and released, how many have you told to go home?
unidentified
Congressman, individuals who are released are placed in immigration enforcement proceedings under the law where they can make their claim for relief.
If their claim for relief is not satisfied, they are subject to removal from the United States.
Right.
matt gaetz ▲ ● ▼
Subject to removal sounds very different than actually removed.
So I'm not interested in the process.
I'm not interested in what people are subject to.
Two million people encountered and released.
Not the expulsions under Title 42, not the criminals.
How many of those people have you deported?
unidentified
So, Congressman, a few points.
matt gaetz ▲ ● ▼
Number one... Just how many of the people?
I just want to know how many.
Just a number.
unidentified
Congressman, we are dealing With a completely broken immigration system.
matt gaetz ▲ ● ▼
I get it.
unidentified
No, no, no.
matt gaetz ▲ ● ▼
Mr. Secretary, I'm not going to let you burn my five minutes.
Do you know the answer?
Do you know the number of people out of that two million that you've removed that aren't criminals?
unidentified
I do know that we have removed more aggravated felons.
matt gaetz ▲ ● ▼
Right, I'm not asking about them.
I've caveated that away.
Because here's what I'm sort of getting and what your non-responsiveness is demonstrating.
The Mayorkas doctrine is this.
If you show up at the border and get released into the country, if you don't commit a specific aggravated felony, which by the way doesn't include a lot of assault and battery, doesn't include a lot of bad domestic violence, but if you're not one of the people who commit those crimes, you get to stay forever.
Is that a fair characterization of your doctrine?
unidentified
No, that is false.
matt gaetz ▲ ● ▼
Then tell me how many you're sending home!
unidentified
No, that is false.
matt gaetz ▲ ● ▼
Okay, but you don't know the number of how many you've sent home.
Here's another number.
Two point, I'm sorry, 1.2 million people today have been through your entire process, right?
They've been through what you call a removal proceeding is just an amnesty dance.
Because after the 1.2 million people get an order from the judge saying that they don't have a basis to be here, you still don't remove them.
Like, what's your plan to remove those people?
unidentified
Congressman, that is false.
matt gaetz ▲ ● ▼
Okay, what, how many of them then?
Just give me the number.
unidentified
Congressman, in this country, In this country, there are between 11 and 12 million... Right, but I'm asking about a subset that you won't send home.
matt gaetz ▲ ● ▼
And the reason you're smirking about it, and the reason you won't answer my question, is because everybody gets the joke.
And the sad thing is, it's not just us here, it's the cartels who get the joke too.
And so now, what you've done, to execute this Mayorkas doctrine, where so long as you don't commit a crime, you get to stay here and burden our hospitals, burden our schools, burden our social services, burden our jails.
You've sent the message to the cartels and then you've taken this app and you've digitized illegal immigration and you've scaled it to the moon.
Like this app that you've got everybody downloading is like the Disney fast pass into the country, never to be subject to actual removal, just removal proceedings as you call them.
That app doesn't do any search of their criminal history in their home country, does it?
unidentified
Congressman, I disagree with everything you've said.
matt gaetz ▲ ● ▼
Well, I'm sure, but just answer the question.
Does the app that you are out there promoting do any search of people's criminal history in their home country?
unidentified
Congressman, Customs and Border Protection screens and vets individuals whom they encounter.
matt gaetz ▲ ● ▼
Your app, it either has the functionality to test their criminal history in their home country, or it doesn't.
By the way, if it did, you'd have already told me.
It doesn't.
And then the other epic failure of this that's empowered the cartels Congressman, that is false.
processing centers you've set up in other countries to just wave them all in at a rapid pace. You've had to shut them down in Nuevo Laredo because the cartels were standing outside extorting people. Isn't that right?
unidentified
Congressman, that is false.
matt gaetz ▲ ● ▼
Oh really? So why did you shut down that facility in Nuevo Laredo?
alejandro mayorkas ▲ ● ▼
Congressman, the point of safe, orderly, and lawful pathways is to reduce the number of encounters at our southwest border.
matt gaetz ▲ ● ▼
But wait a second.
You've just shifted those encounters.
Because right now, for the first time in modern history, more people are showing up at the ports of entry than running through some bush in Yuma, Arizona.
And the reason they're showing up at the ports of entry is because you've got the turnstile open, where so long as they've gone and downloaded this app, you just let them in.
I got one final question for you, and it's an important one.
Is Mexico an ally in this fight against illegal immigration?
unidentified
Yes, it is.
matt gaetz ▲ ● ▼
So, I mean, it's hilarious and somewhat troubling that you say that because, like, I'm looking at the El Chapo trial where President Nieto took a hundred million dollar bribe from the Sinaloa cartel.
Do you think that the subsequent presidents following Nieto weren't offered a bribe by the cartel or didn't take the bribe?
unidentified
Congressman, I disagree with everything you have said.
matt gaetz ▲ ● ▼
Right, but you can disagree all you want, but what you won't provide is any number.
And when you sit there and just kind of ostensibly disagree without any facts, it shows people what the real gig is.
The Mexican government is captive to the cartels.
They are doing the bidding of the cartels, and based on your response today, so are you.
steve bannon ▲ ● ▼
Matt Gaetz.
I mean, think about if you didn't have Gates and a couple of these fire breathers right there.
Just incredibly intense questioning and wanting to stick to facts.
And this is my Yorkist.
Just look at the arrogant smugness.
Later, we'll try to get Todd Bensman on tomorrow.
Todd had to get a flight back, but Todd's testimony was incredible.
And Todd said right there, and Mayorkas just agreed, there's 10 to 11, there's 10 to 12 million illegal aliens in the country.
They come on down illegally.
Mayorkas just agreed with that number, which the number is much higher.
But let's just take that as a base.
Benson builds off that and says, you got another 6 to 8 million just on Biden's watch.
This is the invasion of the southern border.
And right there, Gates strips away all the lies and misrepresentations.
That they talk about in trying to, oh yeah, well, there's fewer encounters.
It's all BS.
As Todd Benzman laid out and told us about months before it ever came out, what you have is just an industrial level processing.
Now think about that for a second.
We had Tom Tiffany on in the previous hour that the United States government is complicit in the largest human trafficking operation in the history of the world.
You're a tax dollar.
People in here, and the major part of what's being trafficked in the human trafficking are women and children, and I mean small children, for, as Carrie Lake calls it, rape and torture.
They had Sound of Freedom last night, and I heard when it was finished, you could hear a pin drop.
They had, I don't know, 50, 60 congressmen over there and they're circulating a bill to stop this.
President Trump has said that you got to start bringing the death penalty, not for just drug traffickers, but you have to bring in for the human traffickers.
I think you have to go one level higher than that.
And that for the pedophile, for the demand side of the equation, not the supply side, but for the demand side of the equation.
And think about it for a second.
It's $150 billion a year business globally on a global basis.
Minimum.
You want to have some witnesses.
This is one of the things that in Delaware is so important today that they blew up because it was so obvious what they're trying to do, and a liberal left-wing federal judge called it out.
This was to give Hunter really, as Mike Davis laid out, immunity for everything.
A big part of the immunity is, guess what?
What is it?
The trafficking of women.
As Nancy Mace and Lauren Boebert and others have told you, they've schlepped over to Treasury to look at the SARS report.
The thickest file, the file that's that thick, the file that's that thick, is the file on the wire transfers for the trafficking of women from, they said Ukraine, Russia primarily, maybe other places in Europe or whatever.
That's what I think, that they ought to be the first people called.
Let them get all the names and let them sit in front of a mic and have open Q&A in front of the nation.
Let the nation see the feral dogs that are the Biden crime family.
They're just going to sit there and laugh in your face.
I just want you to understand this.
What Mayorkas did, and they're talking about, hey, we don't have time to impeach Mayorkas.
I think we've got plenty of time.
I think we've got time to take Biden, Garland, and Mayorkas, and let's throw in Chris Wray.
Put people to work.
Guess what, even take your six week break and have your staffs, they don't need six weeks off, have your staff start doing work on all of it and boom, start the inquiries on all four of them when they get back.
You're sending an incredibly powerful message.
Do you know how frustrating it must be for Gates every day to sit there and have to hammer them and then, you know, half the guys up there give them a cat bath?
Think about it.
And think about the smug responses of Mayorkas.
And they're all lies.
They're provable lies.
He can come up with one number.
He's not going to do it.
Let's play, I want to play, and I'll tell you what, you guys pick it.
Let's go back, I want to go to the hearing.
So, okay, first off, another interest rate increase.
The structure interest rates are now over 500 basis points, 525.
He says, hey, after we do these other data comes in in August, September, and after I have the unspoken word, the Jackson Hole meetings, central banks get together.
I may do it again, but the structure of interest rates are not coming down anytime soon.
And so, American working class people whose wages are not rising anywhere near that, and now with AI, you're going to start having, I think, big layoffs, particularly in the creative and the software industry.
You're going to have to live with these interest rates for a while because they ain't coming down anytime soon.
And we've got this now, I think, a firestorm, a constitutional crisis with Mitch McConnell.
Unfortunately, even if we're opposed to him, you say this as a human being, unfortunately, it looks like, you know, quite impaired.
And somebody ought to start putting his interests and personal interests ahead of Just getting things done because we have a crisis.
This is going to be quite intense on all of it.
The spending, the fight over geopolitics and the funding of the Ukraine war, all of it.
Very intense.
And now you've got the southern border, you have fentanyl.
The fentanyl thing was amazing and we're going to get more of that.
You heard Tom Tiffany, we're going to get more of that.
We get Benzmann up here tomorrow.
But I want to play, quite frankly, this extraordinary.
Here's the point of The UFO, and the reason we highlighted so much and took so much of it live.
It's quite simple.
Trump said the biggest problem we've got is the existential threat to the American people is the administrative and deep state.
Now, I say it's the Chinese Communist Party, but they're a close second, because I think they're mainly more in cahoots with the CCP than they are defenders of our sovereignty, and they're clearly not defending your sovereignty on the southern border.
You see it every day.
But this thing was so shocking today in the dismissal for 50 years or 60 years or longer, one guy says since the 1930s, of the consent of the governed.
This shows you in high relief, and particularly as they get into skiffs and get more classified information, which I think ought to be declassified immediately, it shows you Not just the lack of interest, the contempt that the administrative state holds the American people.
They think you're children.
They don't think you can handle this information.
That, oh, society would break down?
No, no, the American people will be fine.
Trust me, they came over here from nowhere, they went across a primeval forest, and then across a barren plain, and created the greatest nation in the history of the Earth.
The American people will be fine.
They'll be just fine.
You can let them know everything.
Release it all.
And today you heard the pushback on that.
These guys are whistleblowers that came forward.
They talked about the intimidation.
They talked about the careers being destroyed.
They talked about, you know, when Gates asked the question, so many Navy pilots, you want to end your career?
Uh, you know, you see one of these, uh, Tic Tacs, go and fill a form out.
You're just going to say with your, with your NFO, Hey, maybe, you know, let's do it.
They're not serious about covering.
They're not serious about finding out that the bomb is just going to hurt.
It's going to get into a number of boards and I'm not going to get promoted.
So I'm not going to do it.
So go ahead.
We've got a few minutes here left.
I want to make sure that... Let's go ahead and play randomly.
Play the next one.
We've got so many great ones.
Let's hit it.
matt gaetz ▲ ● ▼
Several months ago, my office received a protected disclosure from Eglin Air Force Base indicating that there was a UAP incident that required my attention.
I sought a briefing regarding that episode and brought with me Congressman Burchett and Congresswoman Luna.
We asked to see any of the evidence that had been taken by flight crew in this endeavor, and to observe any radar signature, as well as to meet with the flight crew.
We were not afforded access to all of the flight crew.
And initially, we were not afforded access to images and to radar.
Thereafter, we had a bit of a discussion about how authorities flow in the United States of America, and we did see the image.
And we did meet with one member of the flight crew who took the image.
The image was of something that I am not able to attach to any human capability, either from the United States or from any of our adversaries.
And I'm somewhat informed on the matter, having served on the Armed Services Committee for seven years, having served on the committee that oversees DARPA and advanced technologies for several years.
When we spoke with the flight crew, and when he showed us the photo that he'd taken, I asked why the video wasn't engaged, why we didn't have a FLIR system that worked.
Here's what he said.
They were out on a test mission that day over the Gulf of Mexico, and when you're on a test mission, you're supposed to have clear airspace, not supposed to be anything that shows up.
And they saw a sequence of four craft in a clear diamond formation for which there is a radar sequence that I and I alone have observed in the United States Congress.
One of the pilots goes to check out that diamond formation and sees a large floating, what I can only describe as an orb, again, like I said, not of any human capability that I'm aware of.
And when he approached, he said that his radar went down, he said that his FLIR system malfunctioned, and that he had to manually take this image from one of the lenses, and it was not automated in collection, as you would typically see So, I guess I'll start with Commander Fravor.
How should we think about the fact that this craft that was approached by our pilot had the capability of disarming a number of the sensor and collection systems on that craft?
unidentified
Well, I think this goes to that national security side.
You can go back through history of things showing up at certain areas and disabling our capabilities, which is disheartening.
And for us, I mean, like I said, it completely disabled the radar on the aircraft when it tried to do it.
And the only way we could see it is passively, which is how he got that image.
So I think that's a that's a concern on what are these doing?
Not only how they operate, but their capabilities inside to do things like this.
matt gaetz ▲ ● ▼
And how should we think about four craft moving in a very clear formation, equidistant from one another, in a diamond?
In all of the phenomenon, perhaps, Mr. Grave, that you've analyzed, have we ever seen multiple craft in a single formation?
unidentified
I have one particular case, and that was during the gimbal incident.
The recording on the AT FLIR system shows a single object that rotates.
You hear the pilots refer to a fleet of objects that is not visible on the FLIR system, and that was something that I Much more.
steve bannon ▲ ● ▼
Uh, we're going to try and get all these folks in at least by phone.
They're scrambling to do votes.
We were trying to get Gates.
We had him booked this afternoon, but they got votes going on there.
They're running around because I think the clock stops at noon on Friday when they take off.
Um, we're going to be back here at 10 o'clock tomorrow morning.
There's so much going on.
We're going to have cashier, Congressman Bishop, a whole bunch of folks.
Uh, but we're going to be juggling and calling audibles.
So there's so much happening also.
They may try to pull this indictment of President Trump again, another one, so we'll be obviously covering that.
I have Mike Davis and the entire team.
I want to leave you with, we're doing this homage to American music, the American spirit, the American flag, all of it, after coming through June and having the depravity and perversion.
of what that was called.
That's not pride.
This is pride in country.
This is pride in American people.
It's a pride and particularly in American music.
As you know we like the arrangements simple.
We like the voices strong.
We like powerful lyrics and of course natural instruments.
So we'll leave you with Tammy Patrick's Red River Valley.
Kind of the MAGA version of it.
The Red River Valley.
We'll have something more in back.
By the way we're working on putting out a playlist so you get it all.
So we're going to leave you with Tammy Patrick.
We will see you back here in the War Room tomorrow morning at 10 a.m.
unidentified
I will guarantee you it will be lit.
steve bannon ▲ ● ▼
See you then.
unidentified
For they say you are taking the sunshine That has brightened our country wild Come and sit by my side if you love me Do not hasten to bid me adieu
Just remember the Red River Valley, And the ones who loved you so true.
I've been thinking a long time, dear Liberty, Of the sweet words you once had to say.
Now, alas, must my fond hopes all vanish.
We see less and less of you every day Do you think of the valley you're leaving?
Oh, how lonely and how dreary it will be When, dear freedom, you leave us completely For the false sense of security Come and sit by my side if you love me
you Do not hasten to bid me adieu Just remember the Red River Valley And the ones who love you so true They will bury me where you once wandered
Where the hearts of real patriots died.
For they're gone from the Red River Valley.
Due to fear, hatred, and lies.
Come and sit by my side.
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