Oct. 4, 2023 - Bannon's War Room
47:42
Participants
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| Speaker | Time | Text |
|---|---|---|
| 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. | ||
|
unidentified
|
Here's your host, Stephen K. Bannon. | |
| Whoa, these people have got to go home and cry for a week? | ||
| Whoa, these people have got to go home and cry for a week? | ||
| They've got to go do a week of hand-wringing and bed-wetting over the fact that Kevin McCarthy isn't Speaker anymore? | ||
| This institution is about more than one man. | ||
| Your response? | ||
|
unidentified
|
He's pathetic. | |
| I mean, let's face it, you can't go on like that. | ||
| Why are we shut down? | ||
| Because of his antics. | ||
| And because of what he did. | ||
| He knows damn well when you strip the Speaker of his duties, then we're powerless to move forward. | ||
| We have the bills that he's talking about all stacked up. | ||
| We've had them stacked up since the end of July. | ||
| Should he and the other seven be kicked out of the conference? | ||
| Well, I don't see how they can really be part of a conference when they stand on the... they come on the inside, listen to what's going on, and go outside and lob bombs in the middle. | ||
| Sounds like that's a yes. | ||
| Well, you know, I think it's a... again, I'm one of those who's a ground-up thing, so I think it's important that everybody have an opposite... | ||
| opportunity to take in what's happening and then make a collective decision when we get back. | ||
| But if it was up to me, I'd vote for it. | ||
| I mean, it's a waste of time having conversations with these people. | ||
| And I think we need to start working and going forward as a unified group. | ||
| Okay, David Joyce, you got to remember this guy, this beauty. | ||
| He was if you if you sat through the appropriation, by the way, that's a bald face lie. | ||
| They're been stacked up because McCarthy didn't bring them forward since July. | ||
| Why they wanted to get down, they know what the game is, they want to create a crisis, have a time crunch, then pass a CR, then pass a, uh, then later pass Omnibus so you never get to see them in action. | ||
| David Joyce, have you stayed up on, on Getter and on, um, On Rumble with us last week when people were up at the 2 and 3 in the morning up there watching this live in the amendments and the votes in the amendments. | ||
| David Joyce is up there, I think it was on DHS. | ||
| On CISA, on all of it. | ||
| He said, no, you can't defund this, you can't do this. | ||
| This is one of the worst guys around. | ||
| Ohio ought to be ashamed of. | ||
| Go ahead and try to vote him out, dude. | ||
| Try to vote him out. | ||
| Let's see that. | ||
| I want to see how that works in your district. | ||
| 2-0-2, 2-2-5, 3-1-2-1. | ||
| They're coming for the heroic 8. | ||
| What was it? | ||
| 7 against Thebes? | ||
| My classical education, if I can remember a thing, is 7 against Thebes. | ||
| This is 8 against the Imperial Capitol. | ||
| 8 against K Street. | ||
| How does that sound? | ||
| The, uh... | ||
| The defense of their privileges, the defense of their money, their defense of their sinecures and benefits on the Paris, on the Potomac here, that is foremost. | ||
| These guys come in, they blow in out from the rest of the country and they never leave. | ||
| They line their pockets, they're grabbing with both hands as the country's now in, as Natalie Winters tells me, accelerated decline. | ||
| Natalie, we'll get more into the Ukraine reporting you've been doing in the next couple of days. | ||
| But your thoughts, you were able to succinctly tell us what the stakes were. | ||
| What did you see over the last 24 hours? | ||
| And particularly I want to highlight the vitriol, anger that has come forth since this epic defeat. | ||
| Remember, Garrett Graves, you're fired bro. | ||
| The little guy with the bow tie, throwing the hissy fit with the gavel. | ||
| You've been fired. | ||
| On national TV. | ||
| In front of your countrymen. | ||
| For a job not well done. | ||
| Natalie Winters, your thoughts? | ||
| I mean, I truly think that yesterday was as historic of a victory for the populist movement as Trump's 2016 victory and 2020 victory was, and Brexit. | ||
| And what I mean by that is that yesterday we actually had a chance for, you know, the grassroots, the people who The War Room Posse supports to actually go up against the establishment. | ||
| And you know, Steve, as well as I do, they go to every length, they fight tooth and nail to make sure that we never actually have those matchups because when they're equal handed and fair, the grassroots always prevail because we are the majority in this country, though I don't think we're even the signed majority anymore, thanks to all the calls that the War Room Posse has made. | ||
| I think, to me, the most interesting part of yesterday, and where you really see, I think, with the issues with the Republican Party, is how Garrett Graves thought that it was sort of an own to mock Matt Gaetz for fundraising from the American people. | ||
| Because what you saw yesterday in the Republican conference, I would argue, was more of a referendum on, do our elected Republicans fear House leadership more? | ||
| Or do they fear their voters, the constituents, the grassroots, you know, the war room posse more? | ||
| And unfortunately, most of the conference sided with fearing leadership, right, just standing up to defend the historic speakership of Kevin McCarthy. | ||
| And if I hear one more time about how H.R. | ||
| 2 secured the border, or H.R. | ||
| 1 and, you know, great energy prices, and I just have to look at the videos that Ben Berkman produces or go to a gas pump and see that, cool, that didn't materialize, just like none of their investigations have materialized into actual accountability. | ||
| I think we're sort of at the same point where I think Donald Trump was such a providential instrument in helping us realize the problem, right? | ||
| Whether it was the Republican establishment, the apparatus, the mainstream media, but I think for so long we haven't been able to get granular. | ||
| Um, on who actually represents us in Congress, who is actually with the MAGA base, you know, Trump endorsements and Trump tweets aside. | ||
| So that's why I think yesterday really was so important, not just for the significance of, of asking Kevin McCarthy, but I think that we really have obtained sort of a battle plan and we can reverse engineer, you know, the people that we need to get out, which unfortunately there's about eight that we should, or I guess 11, if you want to be nice, that we should keep. | ||
| Um, but I really don't think the gravity of, um, of yesterday should be lost on anyone, just not only on the fact that Dan Crenshaw and all of his colleagues were, were crying, but it also shows you that they haven't, you know, that they went right into recess. | ||
| I think it was Patrick Henry who said, give me liberty or give me death. | ||
| And you have Patrick McHenry saying, give me recess or, you know, give me death. | ||
| I think it shows you how far this country has fallen. | ||
| But it's all part of the game. | ||
| They want to jam us against that 45-day deadline to pass another CR and blame it on Matt Gaetz, which is just the most ridiculous, outlandish talking point that I've ever heard. | ||
| Almost outlandish is the House Republicans yesterday saying Kevin McCarthy has done a great job as Speaker of the House because we passed single subject Uh, spending bills. | ||
| It's like, well, you did that because the war room policy and people like Matt Gaetz forced you to. | ||
| You don't get to take credit, um, for something that you did with a gun to your head. | ||
| Um, so I think we should celebrate the victory. | ||
| But, uh, as you know, they come back, uh, with a vengeful fighting force. | ||
| So we'll definitely have to double down on our efforts. | ||
| Natalie, have you ever seen Republicans like Graves and these guys, have you ever seen them fight? | ||
| To close the border. | ||
| Have you ever seen them fight DOJ and the weaponization of DOJ or the FBI or what happened to the people on January 6th? | ||
| Have you ever seen them fight the Chinese Communist Party? | ||
| Is there any topic of all the pressing doubt, the invasion of the southern border, the bioweapon that was let off for us on Wuhan? | ||
| Have you ever seen the passion and the anger? | ||
| Ever? | ||
| of the establishment fighting in the viciousness, vitriol, and hatred that they're coming after the populist movement, ma'am. | ||
| No, maybe in this Congress only against gas stoves, that seemed to be the only bill that they could pass. | ||
| Substantively, I've become very jaded these last few days, no. | ||
| But no, they haven't, and frankly, I think it's all the more ridiculous that you see These people pushing the same talking points, you know, that the left wants to use to say Donald Trump shouldn't run again, whether it's the 14th Amendment or saying he shouldn't be able to run because he's such a, you know, destruction and a cancer to society. | ||
| That's effectively what they're saying, what they want to do with Matt Gaetz. | ||
| So instead of trying to shut down the weaponization of government, it seems like they're actually just, you know, taking a poor man's ripoff of these, you know, lawfare, as Peter Navarro calls it, you know, wokefare tactics. | ||
| Um, to actually make democracy less of a thing, to have it harder to elect actual MAGA representatives, which is of course what they're trying to do. | ||
| But, I mean, someone I saw, I forget which congressman, but some congressman tweeted that one of the most historic things that Kevin McCarthy ever did was establish the China Select Committee. | ||
| And I mean, I lost it. | ||
| I started laughing out loud. | ||
| What good has come from that committee? | ||
| It's the same, you know, neocons who since 2010 have been saying China's going to collapse. | ||
| They bring them in for hearings. | ||
| They use their same old washed-up talking points that never get to the heart of the issue. | ||
| They want to talk about Confucius Institutes. | ||
| Meanwhile, our pension funds are quite literally building the rise of the Chinese Communist Party, and the same people profiting from this whole pension fund scam are the ones funding Kevin McCarthy to begin with, and they want to talk about Confucius Institutes and Confucius classrooms on the K-12 level? | ||
| They're just behind the eight ball. | ||
| But I think the sobering moment is when you realize is that it's not incompetence. | ||
| It's purely intentional. | ||
| And I mean, just look at the House GOP Twitter account. | ||
| The stuff that they tweet is so insulting to the intelligence, not just of me and you, but I mean, to everyone, to all Americans. | ||
| Oh, tweeting things like accountability is here on the day of that, you know, shameful impeachment hearing tweeting two days ago that Americans are smart and we can see that the economy is great. | ||
| It's just insulting, but I think we've hit the point. | ||
| And yesterday was sort of, I think, a tangible, palpable way of actually really feeling it where the people are fed up. | ||
| And I know it sounds so cliche to say that, but I really think the primary season is going to be extremely interesting this year. | ||
| I think there's going to be a lot of people throwing their hat in the race because I think people are really done with the talking points. | ||
| They're done. | ||
| And I love when they say to Matt Gaetz, Oh, you're just doing this to go on TV. | ||
| You're just doing this to go on Fox News. | ||
| Or Mark Levin saying that the Uniparty is McConnell, Jeffries, Schumer, and Gates. | ||
| I mean, honestly, some of the worst takes that I've ever seen, even in my short life. | ||
| But it just shows fundamentally that these people don't get it. | ||
| To say that Matt Gaetz is doing what he's doing to get on Fox News, They don't understand that we are at war with Fox News, that the Murdochs don't represent us. | ||
| So they're so all over the place because they don't believe in anything. | ||
| They just have fealty to leadership and leadership ultimately is fealty to the lobbyists and the donors and probably the Chinese Communist Party and the Ukrainian government. | ||
| Last thing before I let you go, I want your assessment of this because I'm going to bring Philip Patrick in a second. | ||
| We're talking about capital markets and obviously the CR, the overall deal and appropriations. | ||
| And these are going to be brutal battles, folks. | ||
| They're coming in a couple of weeks and these are going to be brutal. | ||
| All-nighters. | ||
| In this, Natalie, as sure as the turning of the earth. | ||
| The establishment is going to try to jam in with a $2 trillion deficit and not able to pay for any of this. | ||
| They're going to try to jam in the down payment on the $80 billion this year for Ukraine, somewhere between $6 and $24 billion. | ||
| And they're outraged. | ||
|
unidentified
|
Outraged that we were able to stop them. | |
| Do you think the American people, and what will it take over the next couple weeks to expose, it's not even blatant corruption, it's worse than that, it's American citizens That are working really for the Ukraine oligarchs, not the Ukraine people, for the Ukraine oligarchs to take taxpayer money and to fund something that clearly has, we're at the end of the strategic objectives of this, etc. | ||
| What do you believe it will take? | ||
| And do you think if that was exposed, that not just the War Room Posse and what we've provided a platform for, but all the American people? | ||
| Right. | ||
| We know 55% or 60% don't want to give you more money, but we could get to the other 20% or 30%? | ||
| I mean, I think it'll take Donald J. Trump for speaker. | ||
| And I don't say that just for the clicks, but I say that because you need someone who is outside of the system. | ||
| You need someone who is not beholden. | ||
| Not just, you know, we talk about Democrats and plug and play like Gavin Newsom, but some plug and play leadership hack. | ||
| You know, I'm glad that names like Jim Jordan and Scalise and Donalds have been floated, but remember where they were on the CR. | ||
| Remember where they were on actually defunding the government. | ||
| People like that. | ||
| And that's where I think maybe the only sort of sobering moment for me is like, well, I'm glad we got Kevin McCarthy out, but maybe it was a fool's errand because who do we replace him with right? | ||
| There's not that many great people I would argue it should be one of the eight that voted to oust him But I don't think that they could ever garner the votes because the lobbyists and donors and special interests would never allow it But fundamentally we need someone like Donald Trump Because otherwise it I mean I I think that Jim Jordan's of the world I think unfortunately, I mean, sure, they're marginally better than Kevin McCarthy, but they still have the complex of interest. | ||
| They're still a part of that, that fundamental, the apparatus that is the uniparty that I think at the end of the day, The fealty is to them, it's not to the voters. | ||
| And you need someone like Donald J. Trump who can actually shake things up. | ||
| The fact that Kevin McCarthy never kicked Nancy Pelosi out of the hideaway office, I think that indirectly proves that The Uniparty exists and that Nancy Pelosi probably had some sort of blackmail on him or he's just a true beta male like you've always said. | ||
| But these people work in lockstep and you need someone who is above the fray and empirically battle-tested, battle-proven. | ||
| That man is and always has been Donald J. Trump. | ||
| Natalie, what's your social media? | ||
| How do people follow you? | ||
| I realized I'm a little more fun during War Room Battleground. | ||
| So if you want to follow me, you can go to Natalie G. Winters on all social media platforms. | ||
| We always have a little more fun on Battleground. | ||
| The clock is so different that we can have some time to chat. | ||
| Thank you so much, Natalie. | ||
| Great reporting and really great analysis. | ||
| Great assessment. | ||
|
unidentified
|
Thank you. | |
| I want to bring in Philip Patrick. | ||
|
unidentified
|
Philip, 30-year mortgage. | |
| Eight percent. | ||
| 10-year treasury, and the audience has been trained now, they've learned, they've been educated that the 10-year treasury basically sets the framework for their economic and financial life. | ||
| That's getting close to 5%. | ||
| Long bond is close to 5%. | ||
| Still inverted yield curve, but everything's risen so high. | ||
| Bond market eviscerated. | ||
| Unrealized losses on these banks' balance sheets are in the hundreds and hundreds and hundreds of billions of dollars. | ||
| Stock market getting crushed. | ||
| Just give me, I want you to pull back and give the virtual, what is your assessment of where they're standing? | ||
| You saw this huge fight and they don't want to admit it. | ||
| They want to say that the debt deal they did with Biden was great, that this is the most successful group of guys they ever had, that the debt deal was great and the CR doesn't matter and, you know, they're walking around here oblivious to the fact, oblivious to the fact that we're in a financial crisis, sir. | ||
| Yeah, I mean, nobody wants to talk about the issue. | ||
| You're absolutely right. | ||
| Look, under McCarthy, the House of Representatives punted once again, and they got very little in terms of compromise on the back of it. | ||
| And the decision cost him his position as Speaker, and rightfully so. | ||
| As you've said yourself, a continuing resolution is not an appropriate way to fund a government, right? | ||
| It's popular today because special interests can get their payoffs without Any accountability, right? | ||
| In a proper budget, legislators have to at least reveal whose pockets they're in. | ||
| And I think that's why these CRs have become business as usual in Washington, because a lot of elected officials don't want taxpayers to see how the sausage is made. | ||
| Now, the broad problem, I think, is Congress is still acting like postponing hard decisions makes them easier. | ||
| And I think we've learned it's simply not true. | ||
| Right now. | ||
| Kicking the can further down the road, hoping that by the time the bill really comes due, you're going to be retired and working for some K Street lobbying firm. | ||
| Now, what was encouraging, and I think Natalie sort of suggested this and rightly so, was that at least we're seeing now that there's still a few sensible people in DC who are willing to draw a line in the sand and say no more. | ||
| But we've got to be very clear about something. | ||
| This was ultimately a small battle in what will be a very hard-fought war that I think will determine the direction of this country for the next century. | ||
| Now, we talk about a battle over 2% of the total annual spending, and it may seem absurd, but it's important because I think it shows now that the GOP is serious about the problem. | ||
| The days of capitulation are over. | ||
| The real battle, though, is going to be addressing the ticking time bomb, and that's $33 trillion of debt that we have to get under control. | ||
| I think it should be clear now to everybody out there with a brain that spending our way into prosperity That is a fantasy. | ||
| And I think the reality is until we stop running a deficit, the situation will get worse, not better. | ||
| And as time goes on, the fights are going to get bigger and the stakes are going to get higher. | ||
| So this is a small step in the right direction, but we got a lot to fight for still. | ||
| I want to go to this. | ||
| What is your sense of, let's take the structure we had from the financial collapse. | ||
| In 2008 for the audience that maybe haven't had a chance to read into the dollar empire or has been a part of the audience for years we've gone through this. | ||
| The structure they totally changed the structure to save the elite to go to basically zero interest rates negative interest rates and flood the zone through the Fed with liquidity. | ||
| So now that was 2008. | ||
| We're what, 15 years later? | ||
| 15 years on, all of a sudden, with Biden's massive federal spending, basically acquiesced To buy the uniparty elite in the Republican Party that could have blocked this at any time, could have blocked it at any time, they went along with it, this massive inflation. | ||
| To keep up with this, the Fed and the central banks have now raised interest rates 500 basis points, I think in the shortest time, or maybe Volcker did it quicker, but in living memory. | ||
| And so where is that going to leave the average person in this environment right now? | ||
| I mean, you mentioned yourself home prices earlier. | ||
| Look at the numbers, right? | ||
| Home prices have riven 40% over the last three years, vastly outpacing wages. | ||
| Homes now are less affordable than at the peak of the mid-2000s housing bubble. | ||
| Now, a mortgage is considered affordable if principal and interest payments are 25% or less of a family's income. | ||
| Today, it's 44 percent. | ||
| People would need a 14 percent pay hike just to make a home affordable. | ||
| Look at rents. | ||
| For the first time in decades, rent to income ratio reached 40 percent, making it one of the least affordable rental markets ever. | ||
| Now, as you mentioned, an increasingly sort of in an environment now where we've expanded the money supply by 34% now we're raising interest rates to fight the inflation that they created now Individual homos is are feeling the squeeze and you know, it's impossible now for most Americans to make ends meet Which is why as we've said credit card debt is skyrocketing Defaults are skyrocketing. | ||
| This is the reality for the American people. | ||
| So people in DC can dress it up how they like, but the reality is people are hurting and it's all on the back of these policies. | ||
| Money printing, low interest rates, which have lined the pockets of the elite, but it's the American people, the middle classes now that are suffering. | ||
| It's a disaster. | ||
| I want to go back to, you've got a great phrase in there, they're under the impression, or they want to give the impression, that delaying hard decisions makes them easier to make in the future. | ||
| Our political elite, and really our financial elite, because they back them up, have sold that as kind of the drug that's out there. | ||
| This is kind of the emotional reporting you see on this topic on CNN or MSNBC or Fox, where it's all about the people that are not going to get their stuff. | ||
| We understand there's going to be hard choices, but what do you mean by that? | ||
| That the myth of this imperial capital is that delaying hard decisions makes them easier in the future? | ||
|
unidentified
|
Sir? | |
| I mean, look, this seems to be the mindset that they have. | ||
| We have had many opportunities to deal with these issues, and we've deferred. | ||
| And I don't know if it's because they believe things will get better in the future, or they are, like I said, trying to Put a bandaid over the problem and let the next guy deal with it. | ||
| But that's what the system has become. | ||
| And we started using money as a financial tool to do that right by printing money by keeping interest rates low. | ||
| We kick the problem down the road and we let the next guy deal with it. | ||
| But the problem is time and time again. | ||
| This problem has been mounting and mounting and mounting and we're getting to the point of no return. | ||
| The reality is the world doesn't work like that. | ||
| We all know it. | ||
| The longer you leave a problem, you let it fester. | ||
| It gets worse and worse and worse over time. | ||
| And this is something they need to understand in D.C. | ||
| It's playing out in front of our very eyes. | ||
| What about, you talk about, this is Gates' phrase, rip the band-aid off. | ||
| What do you think has to happen? | ||
| We got a couple, we got a few minutes I want to hold you through the break and appreciate you being on. | ||
| What resolve do we have to show? | ||
| The MAGA base, this show, the people we support, what steely resolve do we have to show In the next couple of weeks to demand that the CR gets that we we meet all the guidelines of the CR. | ||
| We get the budgets done. | ||
| We have the we have the conference and hammered out with the Senate and we get it to Biden's desk for him to sign what type of steely resolve we have to have to make to make sure that we can deliver. | ||
| Look, the American people need to stand firm. | ||
| They need to let their elected officials know that enough is enough. | ||
| The spending has to stop long term. | ||
| We cannot be running a deficit year on year on year and think that somehow this debt is going to disappear. | ||
| Look at what's happening to us on the global stage. | ||
| Look at the American dollar. | ||
| I mean, Matt Gaetz said the other day, you can't even bribe a Democratic senator with U.S. | ||
| dollars anymore. | ||
| We need gold bars to do it. | ||
| And obviously it was said in jest, but there's some frightening truths behind that. | ||
| You know, the dollar is turning into, it's becoming worthless. | ||
| An 18% loss of purchasing power in three years is becoming a problem for everybody domestically here in the United States. | ||
| It's becoming a problem for governments around the world, and we are losing our position as world leader. | ||
| And this is what I always say. | ||
| This is where one presidential term becomes very, very dangerous. | ||
| Look, we will get through this inflation problem eventually. | ||
| We'll deal with the recession that's on the horizon. | ||
| We start to lose the political game on the international stage, it's done. | ||
| The world distances from the dollar, they're not coming back to it. | ||
| That's where one presidential term becomes dangerous. | ||
| But We've got to curb the spending. | ||
| We've got to do it now. | ||
| We've got to go out there and put pressure on our elected officials to make sure that they're putting our interests forward because right now they're not. | ||
| They're looking after interest groups and that's how decisions are being made. | ||
| They need to start looking at the American people and that means pressure from us. | ||
| I tell you what, Phillip, can you hang on for a second? | ||
| I want to talk about the series and particularly about the new part. | ||
| I don't think a lot of people understand kind of the railhead of how we got here. | ||
| You know, we talk about the 70s, we talk about the later part of the 70s with Paul Volcker and then Ronald Reagan coming on the scene in the early 80s. | ||
| We don't really pull it back and go back. | ||
| To 1971, the railhead of the assassination of American prosperity. | ||
| We're going to take a short commercial break. | ||
| Philip Patrick, make sure you go to Philip, go to birchgold.com slash Bannon. | ||
| You get the entire end of the dollar empire. | ||
| Also, you can talk to Philip Patrick and the team about why the Federal Reserve is focused on a central bank digital currency and the BRICS banks, the central banks throughout the world. | ||
| are buying gold at record rates. | ||
| Short commercial break. | ||
| We're gonna return in the war room with Philip Patrick of Birch Gold in just a moment War room battleground with Stephen K Bannon A Okay, welcome back. | ||
| Philip, before I want to go to 1971, before I do that, I want to ask you, the This is not just a problem in the United States. | ||
| This macro problem of fiscal irresponsibility. | ||
| Fiscal irresponsibility of the parliaments or legislatures throughout particularly the Western world that has been backed up by the acquiescence of central banks. | ||
| I mean one of the reasons we have, I think it's three hundred and Fifteen trillion dollars globally at every level of debt. | ||
| We're the most over leveraged. | ||
| And now with these interest rates, that's what you're going to see go through like a sift through grass. | ||
| What's going to happen here is the over leverage. | ||
| But you've had these, you've had fiscal irresponsibility everywhere from the United Kingdom, all over Europe. | ||
| Now, today, there's articles, major articles are saying, hey, the local debt crises in all these localities throughout England that can't pay their debts back, that's starting to aggregate up to a problem that they've got to consider. | ||
| They may have a sovereign debt crisis. | ||
| And then in Italy today, in the Financial Times, huge story, is Italy the next guys to have a sovereign debt crisis? | ||
| Is that what we're hurtling to? | ||
| I mean, the United States, We can't default because of the prime reserve currency, but essentially we do default due to the inflation and the drop in purchasing power. | ||
| We default on the guys holding the Federal Reserve note. | ||
| That would be the American citizens and also the BRICS nations. | ||
| This is why the watchword there is de-dollarization, sir. | ||
| Yeah, it's absolutely right. | ||
| This is a problem really predominantly amongst Western nations at the moment who I think have become greedy. | ||
| It's not really working, but you're right. | ||
| And I think, you know, there's a split happening globally between the West and the East. | ||
| BRICS nations are seeing us now, I think, as weak, financially insolvent, and they're using it as an opportunity to try and move in and garner some control. | ||
| But it's not a US only problem as you mentioned. | ||
| I mean the UK at the moment is a mess. | ||
| Things are not running, local governments aren't funded, trains aren't running. | ||
| It's reminding me of England back in the 1970s before Thatcher really reformed the country. | ||
| So that's actually the only thing really saving the US dollar at the moment, shorter term, is that It's, you know, other currencies right now are in worse shape. | ||
| So this is not a US-centric problem. | ||
| We have the biggest debt. | ||
| We're leading the world in that respect. | ||
| The key for us is that we're global reserve currency. | ||
| Like you said, we can't default. | ||
| If we start to lose that, we've got a big, big problem on our hands. | ||
| I want to go back to the railhead of this. | ||
| The fourth installment, everybody go to Birchgold.com slash Bannon right now. | ||
| And besides all the great advice and everything that Birchgold can tell you about your tax-free and your 401k RA, they've been great as instructors, helping us as instructors for the War Impostor to get people up to speed on the politics of currency, on the debt trap. | ||
| And this last one, you and I talked about this and where it would be the best lesson we could have for this time. | ||
| We said, let's go back to the railhead because, and here's the stunning thing, we did the research. | ||
| I think there's only been one or two books written about it. | ||
| This is one of the most important consequential events in all of American history, and particularly modern American economic, business, and political history, and it's never talked about. | ||
| You can tell the apparatus, and in fact, and a hat tip to you and your research team, I didn't know this. | ||
| I didn't realize until we started doing the research that this is an emergency executive order signed by Nixon to make the dollar not convertible into gold, at that time $35 an ounce. | ||
| Over a weekend, they came up with an executive order. | ||
| Because, I think, they couldn't even take it to the Justice Department, the Office of Legal Counsel, which basically gives opinions on executive orders to make sure they're constitutional or not. | ||
| People should remember back at the travel ban, you know, people were coming out saying, you know, Trump's a fascist, Bannon hates everybody, they're shutting down. | ||
| No. | ||
| We had an opinion, and later the Supreme Court goes, no, this is within the Constitution. | ||
| Nixon and these guys over a weekend essentially assigned an emergency executive order. | ||
| Never went out and passed it into law because the American people would never in a million years pass something that took the dollar off of convertibility to gold. | ||
| They just jammed it. | ||
| Tell me about that. | ||
| August 13th to 15th, 1971, one of the most important weekends in the history of this country, sir. | ||
| Yeah, you're absolutely right. | ||
| And this was the most important economic decision arguably ever for the country. | ||
| And as you say, it happened over a weekend with very little planning. | ||
| We essentially, as a nation, embarked on a massive experiment of Keynesianism. | ||
| And today we're living in the ashes of that. | ||
| We're seeing The realities of it, and it was very predictable, but you're absolutely right. | ||
| So, in 71, Nixon was confronted with a problem. | ||
| Since the end of World War II, the world had been running on dollars, which were convertible for gold. | ||
| Deficit spending, though, meant that there were $4 out there for every $1 of gold, and the largest gold reserve in history, the US Gold Reserve, was sold off bit by bit by bit, and it went from 26,000 tons to around 8. | ||
| So instead of letting the run on the bank continue, Nixon defaulted by temporarily removing the US from the gold standard. | ||
| And of course, that ushered in the age of unconstrained money printing that we're living in today. | ||
| By the way, since that date, the dollar has lost 86% of its purchasing power, and it's allowed governments to go and spend carte blanche. | ||
| And like I said, we're seeing the realities of that today. | ||
| Isn't this the whole purpose of FDR in the 30s doing temporarily, and then with all the, they threw everything up on the wall they possibly could throw up, and then, this was the guns and butter, this was the Great Society and Vietnam War all together, later the rearmament for take on the Soviets, but Nixon did not want to make tough, just like here, | ||
| And I'll tell you, Philip Patrick, and people know this, the greatest homage I can give to somebody is when I steal a great phrase, right? | ||
| Delaying the hard, I keep saying all the easy choices are behind us, but the better way you do it, you're saying delaying hard decisions, they think they're making, they will make for easier decisions later on, the exact opposite. | ||
| This is what happened with Nixon and those guys. | ||
| Really did a deal. | ||
| Daniel Patrick Moynihan, one of the great, brilliant, kind of a, today would be a right-wing conservative Democrat, then was considered a liberal. | ||
| He came to this domestic policy and they made a decision to keep the New York Times off their back. | ||
| To keep... | ||
| To keep the establishment media off his back. | ||
| He wouldn't touch any domestic programs. | ||
| He was not going to cut one penny out of anything in the Great Society. | ||
| In fact, Nixon would add EPA. | ||
| He would add a bunch. | ||
| But he also wanted not just prosecute the Vietnam War, he wanted to then pivot and take on the Soviet Union. | ||
| This led us to the point of, they have to get off the discipline. | ||
| The discipline that Precious Metals gives them, right? | ||
| Because you can't get around it. | ||
| It's a disciplinary function. | ||
| It has been since the beginning of time to make sure that governments can't take a fiat currency. | ||
| And essentially, they always bury the same people. | ||
| The little guy. | ||
| The little guy's always... The guy that's got to take the Confederate dollar is the guy that ends up losing, sir. | ||
| Yeah, you're absolutely right. | ||
| And it's funny, I get asked all the time, do you think the US will go back onto a gold standard? | ||
| And I always say, listen, if it happened, it would be fantastic for the country. | ||
| I don't think it's going to happen. | ||
| And the reason that I say I don't think it's going to happen, it would ultimately involve very selfish legislators. | ||
| To vote, to tie their own political hands behind their back. | ||
| As we've said before, money printing, overspending now is a political tool that people use to buy votes, to kick problems further down the road, and that's why they don't like the gold standard here in the US anymore. | ||
| But we need to constrain government spending. | ||
| I don't think a gold standard is going to happen today, but we've got to find a way to do it. | ||
| I do want to lay out that as E.J. | ||
| Antoni was on here the other day, three central banks were before the Fed, and we all got rid of them. | ||
| And this was General Andrew Jackson, one of our greatest, if not the greatest, populist president, next to President Trump. | ||
| This was his career on the Bank of the United States. | ||
| The Federal Reserve is a problem. | ||
| The governance of the Federal Reserve is a problem. | ||
| That must be dealt with. | ||
| And the other thing I just want to tell everybody, remember, and Wall Street should listen to this, particularly since we're going to take the White House in 24 and really take charge in January 25. | ||
| Philip, it's just an executive order. | ||
| At the end of the day, it's just an executive order. | ||
| It could be rescinded. | ||
| Now, you can't go back to $35 an ounce, but, you know, it's just an executive order. | ||
| Here's the reason it's an executive order. | ||
| It was an executive order. | ||
| Philip, they knew That, and they used the timing for the emergency, but they knew there was no way they could go to the American people, particularly in the 1970s, and say, oh, by the way, we're going to pass a law here in the Congress, and we want the House and the Senate both to approve it, and Nixon to sign a law, a law that gets us off essentially the gold standard, convertibility to gold. | ||
| That would have been the American people to like 90, 90, 90, 10, not on your life. | ||
| You're not doing that. | ||
| Impossible. | ||
| Yeah, I mean, it's unbelievable, right? | ||
| You can get a decision like that through without the people voting. | ||
| It was the most important economic decision for this country ever. | ||
| And you force it through. | ||
| It's unbelievable. | ||
| But the more time goes on, the more believable it becomes with politicians as they are. | ||
| But you're absolutely spot on. | ||
| Okay, I want to, where do people go? | ||
| You guys provide a great service. | ||
| You can go now, this is totally free and the Birch guys have been tremendous to do the research, help with the writing the graphs. | ||
| This will be an eye-opener. | ||
| It's the fourth free installment. | ||
| You go to birchgold.com slash Bannon. | ||
| You get all that. | ||
| You can download it free. | ||
| You can pass around and share it. | ||
| Where do people go that now have questions about, hey, gold's been a hedge for, I don't know, 5,000 years? | ||
| It's a pretty good track record. | ||
| Where do people go? | ||
| I want them to immerse themselves. | ||
| What we're trying to do is give people access to the smartest people in the world and then to immerse themselves in information. | ||
| Where do people go? | ||
| So you go birchgold.com forward slash Bannon. | ||
| Again, birchgold.com forward slash Bannon. | ||
| What that's going to get access to, first of all, the reports. | ||
| History is very important, right? | ||
| It's not an indicator of the future, but it tells us a lot. | ||
| Learning the history, understanding how we got to where we are today, that's going to be very important. | ||
| So you can get the full reports, End of the Dollar Empire. | ||
| Birchgold.com slash Bannon. You can also, for those that are interested in learning more about how to invest in physical precious metals, they'll get a free information kit at the same place that can guide them through how to get this done. As you've said many times before, they're going to have access to many people like myself at Birch that are there to hold people's hands, explain everything, and guide them through the process. So Birchgold.com forward slash Bannon. Fantastic. | ||
| Phillip, thank you, and thank the team over at Birchgold for doing this and getting it out to the posse all free, which is amazing. | ||
| Thank you so much. | ||
| Incredible. | ||
| Thank you, Steve. | ||
| When Phillip comes in and we talk about 30-year mortgages, we talk about the 30-year bond, we talk about the 10-year treasury, it's to set the framework of what these debates are. | ||
| Other people don't want to talk about that, and they talk about it in detached From what reality is, what reality is. | ||
| There's going to be so much more of this in the coming days. | ||
| I want to go now, some people I know very well have made an incredibly moving film, Mother Teresa and Me. | ||
| It opens for one night only throughout the nation, I think in 800 theaters. | ||
| We're going to make those theaters accessible to everybody online, but I want you to see this trailer. | ||
| I'm going to say a few words about it. | ||
| Let's go ahead and play it. | ||
|
unidentified
|
You're pregnant, young lady. | |
| What should I do? | ||
| Rest for a bit. | ||
| You still have time to think about it. | ||
| You'll have to have an abortion. | ||
|
unidentified
|
I know. | |
| You can't keep it. | ||
| I don't know. | ||
| I don't know what to do. | ||
| Kavita! | ||
| Oh my God! | ||
| Deepali! | ||
| You knew her quite well, didn't you? | ||
| Mother? | ||
| Yes. | ||
| Most people, when in total doubt, just give up on their dreams. | ||
| But she didn't. | ||
| I need to take dying people off the streets. | ||
| You have to give me a place for them. | ||
| Now! | ||
| Some Hindus might not accept you. | ||
| They might suspect you want to convert them. | ||
| If you want to destroy this place, take me and kill me instead. | ||
| Darkness. | ||
| That's all I can see. | ||
|
unidentified
|
What do I need to know, for Christ's sake? | |
| We just wanted to protect you. | ||
| I was so wrong. | ||
| For so many things. | ||
| I'm lost father. | ||
| Why does Jesus not love me anymore? | ||
| Are you here to save humanity or just yourself? | ||
| you Fate might be obscured by the clouds of doubt. | ||
| I don't know how long I will have the strength to live without fate. | ||
| Without love. | ||
| Tomorrow, you know, Fathom are the folks that put these in theaters throughout the country for one night only. | ||
| We've got the website. | ||
| Grace and Mo have it. | ||
| I want everybody to check it out. | ||
| In Your Air. | ||
| It's a very moving film. | ||
| It tells the parallel stories about Mother Teresa's life of coming from the Balkans and getting to Calcutta and her life and what became, you know, she became a saint. | ||
| But she struggled a lot with her faith and she obviously struggled a lot in the slums there. | ||
| It's just incredible. | ||
| Her story is moving but then you've got the modern story of the young woman that has to face these questions about life and abortion and all of it. | ||
| So it's a very moving film. | ||
| I know the filmmakers quite well. | ||
| They've taken a long time to make this. | ||
| The budget they had is kind of an epic. | ||
| So make sure you go check it out. | ||
| And if you can support it, it'd be great. | ||
| Mother Teresa and me, one night only, will be tomorrow in the United States, I think in 800 theaters. | ||
| So, Grace and Mo, I'll help you to that. | ||
| I want to leave you. | ||
| So, things are intense. | ||
| I can tell you right now on Capitol Hill, in the Imperial Capitol, I've never seen it more vicious. | ||
| I've never seen it nastier. | ||
| I've never seen it meaner. | ||
| And that's on our side of the football. | ||
| Because remember, these uniparty elites, they don't get this mean and nasty about what's going on with the destruction of our country or the southern border or what's happening in our schools. | ||
| No. | ||
| You see what happens when you go after their privileges. | ||
| You see what happens when you go off to cut off their money. | ||
| And today, we're going to leave an example. | ||
| I think it plays about three, three and a half minutes. | ||
| I want to end the show with this clip. | ||
| I've known Brian a long time, and Brian's a very decent guy. | ||
| He's written some terrific books. | ||
| He's a good man. | ||
| But he went after one of the best guys we met up here, and this audience really is the people that saw him first, was Tim Burchett. | ||
| And I will tell you, Tim Burchett is like the folks from East Tennessee that he represents. | ||
| This is a good, decent, hardworking American, deeply religious. | ||
| And as people know over the last couple days, he struggled. | ||
| He struggled with this vote. | ||
| He wanted to make sure it was right. | ||
| He was deep in prayer. | ||
| He told me a number of times. | ||
| He was really reflecting on this. | ||
| And this is emblematic of the disrespect that this movement is getting. | ||
| And it's not going to be tolerated. | ||
| Not just going to sit here and take it. | ||
|
unidentified
|
No, no, no, no, no. | |
| It's not going to happen. | ||
| It's unacceptable. | ||
| And we're going to do something about it. | ||
| We've already done a lot about it. | ||
| You saw that debate yesterday. | ||
| That debate that they lost was a debate between kind of Fox News RNC talking points in the war room. | ||
| So let's go ahead and take this. | ||
| We'll take us out of the show. | ||
|
unidentified
|
Okay. | |
| Tim Burchett on Fox News. | ||
| We'll see you tomorrow morning at 10 a.m. | ||
| I got it. | ||
|
unidentified
|
What do you think it's going to do for the Republican Party and chances of holding on to leadership in the majority, when it looks like you're the ringleader of a circus led by Matt Gaetz, who likes to blow things up, but not offer any new ideas? | |
| Are you happy following Matt Gaetz? | ||
| Is that your leader? | ||
| I'm not following Matt Gaetz. | ||
| I made my own decision. | ||
| I didn't ask Matt for his approval. | ||
|
unidentified
|
But if Matt Gaetz didn't challenge, you weren't going to challenge. | |
| Do what? | ||
|
unidentified
|
I believe I would have. | |
| So you don't think that praying about it's important? | ||
| Is that what you're saying? | ||
| Oh, come on. | ||
| And they're, oh, well. | ||
|
unidentified
|
Please, you were praying about it one minute. | |
| The next minute you're going to lead an insurgency? | ||
| So you don't think that praying about it's important? | ||
| Is that what you're saying? | ||
|
unidentified
|
One minute you were praying about how you're going to vote with Matt Gaetz, and the next minute you're going to lead an insurgency? | |
| Listen, you've got a predetermined answer to everything. | ||
|
unidentified
|
No, I have an opinion about what's going on. | |
| Do you have an opinion, too? | ||
| And you talk over me every time I try to make a point. | ||
|
unidentified
|
All right, make your point. | |
| The point is, is that we're $33 trillion in debt. | ||
| This speaker was woefully, woefully lacking in leadership skills. | ||
| He always places the blame somewhere else. | ||
| America is going to be better off with new leadership. | ||
|
unidentified
|
And that's the bottom line. | |
| And who is it? | ||
| Possibly it could be Steve Scalise, it could be Elise Stefan, it could be Roger Williams out of Texas, it could be Mark Green out of Tennessee. | ||
|
unidentified
|
So they all supported Kevin McCarthy, including the most conservative guy I know, Jim Jordan. | |
| Why are you smarter than Jim Jordan and the 210 plus Republicans? | ||
| Why are you smarter? | ||
| I represent my district, brother. | ||
| And why are you smarter than me? | ||
| You're condemning me because I stand up on my own, and that's what I do. | ||
|
unidentified
|
I'm not condemning you, I'm questioning you. | |
| You don't like being questioned? | ||
| No, you're not. | ||
| No, you're just... The line of questioning is very negative, and you know that, and I know that. | ||
| And when this is all over with, when this is all over with, and we have a new speaker, and we're running smooth, let's have this conversation again. | ||
|
unidentified
|
Were you happy with John Boehner? | |
| I wasn't here with John Boehner. | ||
|
unidentified
|
Paul Ryan? | |
| I mean, they're both rhinos. | ||
| They're not in my camp anyway, but I wasn't here when they were here. | ||
|
unidentified
|
So you had 15 yeses for every round you voted for Kevin McCarthy, but you think he's the problem? | |
| Right now, I sure do. | ||
| He's part of it. | ||
| He's part of this whole problem. | ||
| When you deny that there's a problem in this dysfunctional Washington, brother, then you know there's a problem. | ||
| Who denies there's a problem? | ||
| You can't get past the fact we take in $5 trillion, we spend $7 trillion, and leadership seems to be okay with that. | ||
|
unidentified
|
I'm fascinated the way you blame Kevin McCarthy that you're $33 trillion in debt, but you're going to get a new leader, I'm sure he's going to solve everything. | |
| Well, I'm surprised that you give him full credit for all the successes that we've had. | ||
|
unidentified
|
I don't think you should take all the blame. | |
| Well, why are we backing it up? | ||
| We had nine months, exactly. | ||
| That's a great point. | ||
| Why do we wait nine months to do something about the wall, something about the budget, something about, well, we never did anything about term limits, which we promised the American public. | ||
|
unidentified
|
I watched him for an hour and 15 minutes. | |
| He was doing an awful lot, but not enough for you. | ||
| Tim Burchett, Congressman, thanks so much. | ||
| Thank you, brother. |
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