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Dec. 21, 2023 - Bannon's War Room
48:41
Episode 3264: The Truth Of Holiday Music; America Is Built On MAGA
Participants
Main voices
b
ben harnwell
06:58
d
dave brat
05:24
r
raheem kassam
08:33
s
steve bannon
16:47
Appearances
c
carol m swain
02:44
p
phillip patrick
03:34
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Speaker Time Text
unidentified
We're playing the Christmas music through the holidays, through the Christmas holidays.
steve bannon
Thursday, 21 December, the year of our Lord 2023.
Welcome back to the War Room.
I'm gonna bring in all three.
Don't those... The carols, and we could play hundreds of these.
But from the 19th century, maybe the early 20th, but definitely from the 18th and 19th century, don't they show a culture that's confident in themselves?
These complex and beautiful... I'll start with Rahim and then I want to hear Brett and Ben before we get down to the more mundane topics of geopolitics and money.
Rahim, first, that's one of the reasons I love the Christmas season.
You play these carols that are just absolutely incredible.
Your thoughts?
raheem kassam
Yeah, well, not just that, and you're absolutely right about that, but they also show, you know, more than about the nation, but about the civilization, right?
This was a hymn that was constructed off the back of a 300-year-old Finnish poem, I think it was, that itself went on the back of another 300-year-old song that was being sung.
That was predicated on the story of a 10th century Bohemian king, King Wenceslaus.
And of course, not to put a lump of coal in the stocking, as Andy Big said last night, but the only statue to St.
Wenceslas now in the world is in Prague.
And unfortunately, we have terrible news coming out of Prague this morning with what's happening there.
And that is kind of everything coming home, right?
The chickens coming home to roost because That's where it started, that's how it started, that's what it sounded like, and the carnage today is quite some way away from that.
steve bannon
We'll come back to that in a moment.
Ben Harnwell, your thoughts?
I think Rahim said what I was thinking.
It shows a confidence in a civilization, a confidence in a culture, when you go back and listen to these.
Your thoughts, sir?
ben harnwell
Stevie, I mean that's absolutely right.
You don't really get four-part music now at all, not for popular consumption.
You basically just have a melody and a melody that's at the top, then you have harmonic progression needed.
You don't really have four separate parts moving as you would do in sort of church hymns from around the Wesleyan period.
But you know, look, People have been lamenting the decline of culture, specifically on the point you just mentioned, right, for centuries.
There was a lot of sort of scholastic concern when we moved from the Baroque period into the Classical period, because you had the four-part sort of harmonic Writing counterpoint from Bach and then in the classical period of Haydn and Mozart.
It's basically just a form of popular music today.
Melody and then sort of block harmonies beneath it.
So yes, look, yes, absolutely right.
There's a confidence, almost a swagger even, a swagger.
confidence in the art, the artistry, because this, Steve, look, let's be honest here, this idiom here that we're talking about, this represents the zenith of the Western, the Judeo-Christian Western classical tradition.
And that has been declining for centuries.
Really if you compare modern, you know, by the way, what we call high art today was popular culture a couple of centuries ago.
really just illustrates how far.
We've declined.
And of course, you know, just picking off now what Rahim was saying about the tragedy at the university in Prague today, as these trends continue, we're going to be watching with open mouths just how much further we have to fall in the grand abasement of Western civilization.
steve bannon
Dave Brat, your thoughts from Liberty?
dave brat
Great to follow up my two friends with the English accents.
Tough act to follow.
But Jordan Peterson has been getting at this as well and shows that music, our language at the deep psychological deepest levels comes out of music, from music.
Music, of course, is probably considered the highest of the arts.
The range of controlling the emotions and leading us to new heights that's built into music conveys What science and scientism cannot convey, and that's the grandeur of God.
And so, as we approach Christmas season, we're confronted with the infinite God Almighty, the God of wrath and the God of love, the God of law, the God of liberty, embedding Himself in man.
God becoming man in a child, Jesus born in a manger.
The highest becoming the lowest.
These are metaphysical claims of the highest order.
The modern world is missing out on all of this, and the music harkens back to the great day when we had this confidence.
What more confidence can you have than knowing that God Almighty, up in the heavens, has come to earth because He loves you that much, and that part of God shines in you, right?
That His light is in you.
If that doesn't give you a boost every day, and if that doesn't give you confidence, And there are mysteries that are embedded in this narrative.
It's not simple, right?
Blessed are the peacemakers.
But St.
Augustine says if the innocents are getting hurt, it's time to go to war, right?
There are all sorts of what appear to be contradictions, but the story of the Bible and the narrative of the Bible overwhelms and transcends those man-made contradictions.
God's system is not our own.
It comes in a story, in simple stories that Jesus told, and boy does music help to tell that story.
steve bannon
It's one of the reasons we play so much Christmas music during this holiday season.
From the sublime to the less sublime.
I want to give everybody's take.
You start, Ben.
The situation in Ukraine.
This got to be a major piece of the town hall last night, I can tell you.
The MAGA folks in basically rural Arizona are not fans of shoveling any more money to Ukraine and less fans of tying our sovereignty, Ben, to money to Ukraine.
But tell us, Ukraine now is in panic mode.
Zelensky's in panic mode, something they should have thought about a long time ago.
Talk to us about what's happening there.
ben harnwell
You see, well look, the perfect lift-off point for this hit today then is the fact that over half of the American public now believes that the US is spending too much money on Ukraine.
That's the starting point, I think, of any analysis that we're going to be talking about.
This is trends moving forward over the next 12 months.
towards November of next year. That's what it's really all about now, isn't it?
Well, we spoke yesterday on the show about this announcement that Vladimir Zelensky said in his end of year analysis. He said that they're going to start a draft of up to about 500,000 Ukrainians.
And we see yesterday on the show, well, where are these people going to come from?
Well, today the development is that there's now been some intimations that we can speculate.
And that is that the Ukrainian armed forces, the recruitments, want to start tapping into this great reserve of not necessarily young Ukrainians, but Ukrainians who have left, fled the territory of Ukraine over the last two years.
In fact, what they're looking to do is to tap into the age bracket of between 25 and 60, which sort of shows you really where Ukraine is now on the sliding scale towards the end game.
I'll just say that according to the Eurostat, which is the official European Union statistics agency, they've noted that 780,000 Ukrainians are now within the Union, the European Union, out of Ukraine.
So that's some of where, that offers the pool, I think, of where Ukraine might tap.
That's not including Ukrainians who fled elsewhere.
I'll close with this point, though, Steve.
Just to pick up a point, which is a headline in the Financial Times today, what if Russia wins, right?
I could go into that article because it has a few points in it, but I won't.
What I want to say is people now, we've been covering this, the mainstream media, the analysts, everyone realizes that we are in the endgame now.
So if you're a young guy and you successfully fled Ukraine, what possible incentive will there be to go back into the meat grinder when the game is done, right?
The game is done. The war is effectively over. It's now Russia's to win because we've already hit the high watermark of Western involvement now. So at this point, it's only going to be Vladimir Putin's advantage. So if you're a young guy or even a 58 year old taxi driver that the New York Times did a review on last week.
I was press ganged in to active service.
If you are Ukrainian, why would you possibly want to go in line to the meat grinder when it's not going to affect the final result?
What it might potentially affect, and this is the deal here, is that the optics of losing Ukraine before November are going to be very bad for the Democrats and for Biden generally.
So look.
The question is this, right?
How much do you value your own life vis-a-vis Biden's shabby re-election effort?
That is really the thing that is dragging this war on from its conclusion.
And what we need to be doing in the West, rather than facilitating the pushing of people into the meat grinder, is getting both sides down to the peace table to negotiate a ceasefire and then move forward from there, Steve.
steve bannon
Rahim, last night in front of this mega audience of patriots and people who love their country, Other than Nikki Haley, their derision of Nikki Haley being Vice President for President Trump, this was the hot-button issue, I thought.
Ukraine and the border, and the outrage of tying our border sovereignty to more money for Ukraine.
Given the geopolitics we just heard, is MAGA and the American Working Man and Woman, are they far ahead of the Atlanticist and our bettors in Brussels, Davos, the City of London, the Upper East Side of New York, sir?
raheem kassam
I wrote this piece for the National Pulse this morning reflecting on what we did last night, but really what I learned last night at the Cowboy Church.
I love these moments where I get to go into real America And shake hands and have conversations with real, real, real salt-of-the-earth Americans, because immediately you find this wisdom that you don't find in midtown Manhattan, that you don't find on Capitol Hill, that you don't find in West Hollywood or Beverly Hills or anywhere like that.
And it's pretty simplistic in the way that it works.
The epistemology of it is really, really very obvious, should be obvious at least.
And here's what it is.
The people who were in the Cowboy Church in Casa Grande last night do not fancy themselves as smarter than this nation's founders.
And so what they do is they look back through history and they go, ah, right, no permanent alliances, get it.
And I understand why.
The people who occupy the halls of power in Washington, D.C., India class in New York, start from a position that because several centuries have passed, therefore they must be smarter than the people who founded this nation.
They must be smarter than the people who came before them.
They must be smarter than old King Wenceslas.
And that is the arrogance of, we talk about it all the time, it's the arrogance of scientism, it's the arrogance of humanism.
It's the arrogance of this inability to pass not just your people's history but human history through that lens.
That's what you saw in the Cowboy Church last night.
I know it sounds like a great abstraction from that, but that's certainly what I saw.
We can talk about who these people are.
I talk about The toughest bootleather types that were in that crowd last night.
But what they also are is people who are extremely generous in spirit, but who are done with that generosity being taken advantage of.
That's what you see when you talk about Ukraine and the money there.
That's what you see when you talk about the billions going to foreign wars all over the world.
And that's what you see when they talk about the border, right?
Americans are typically pretty generous in spirit.
But the second, and just like Englishmen by the way, the second we feel like we are being taken advantage of, we are very, very willing to cut that cord.
steve bannon
No, I think it's a brilliant analysis.
Are they different, really, than the folks that Churchill had to depend upon when the royal family wanted to cut a deal with the Nazis in 1940 after France fell?
Are they very much different than those labor types up in the Midlands that Churchill had to depend on to have his back that said, no, no, no, we're going to fight the Nazis to the end?
raheem kassam
Well I think the major difference, I was talking to some people outside of the venue at the end of it last night, I think the major difference is this, you can go to town halls and meetings like that across the United Kingdom But what you won't get is the depth and level of political information, level of political intelligence and awareness that you got in Casa Grande last night.
They clued up, they switched on, they're hyper-focused.
on home not just what is going on in the nation but the future of the nation uh... but i think but i think the same stock of people certainly is what you're saying the same stock of people the same class of people but it was the amazing thing about americans you could be in the middle of the desert and know exactly what's going on in philip shun to it besides i mean the people in there by the way the way information and all the people who have been and and and and what's that or to the short break regime
unidentified
harwell will join us uh... next after short break the the Oh Okay.
steve bannon
Thank you.
Amazing.
Love this music.
Rahim, go back to this point because this audience has turned into a major political force.
And you can see that last night when you have Eli Crane, Andy Biggs, Matt Gaetz, who are three powerhouses that have really shifted the direction of political history, with this audience having its back.
Folks, you were represented.
AmFest was amazing.
But the Cowboy Church even, I think, went next level last night.
This is a very simple, plain church in the deserts outside of Casa Grande.
And it's just, you know, these are, this is the typical thing that we talk about that would we rather be governed by the top hundred partners of McKinsey or Goldman Sachs or the first hundred people that walked into the Cowboy Church last night.
It would take the first hundred at Cowboy Church every day of the week.
Common sense, decency, understanding of life, all of it.
But Rahim, go back to the thing of information, because this is important for this audience.
And we said this, I said this with Charlie Kirk the other day, one of the hardest things to show is keeping ahead of the audience.
And last night you could see that.
This was a tougher audience, a more informed audience than you would get at the top university.
If you compared going to Harvard and talking to the undergraduates to that audience last night, there's not even a comparison.
I'm talking about the government students or the political science students, or to go on Wall Street and talk to a bunch of investment bankers or a bunch of partners at the investment bank.
It's just, it's two different things.
Raheem Kassam.
unidentified
If you think I'm going to allow that to go unaddressed, that you stole my line from last night about the first hundred people that walked into the Cowboy Church.
raheem kassam
But it was a good line.
steve bannon
It's an homage.
Let me repeat it.
It's a Buckley.
We rip it off from Buckley, but Ibrahim was smart enough to bring it up last night.
But let me say one other thing.
Hold it.
You've got an Englishman who comes from a family from India that was a Muslim belief and you've got 250 or 350 essentially cowboy types, you know, these kind of hard-bitten Americans with this DC.
They all know Rahim and they know his writings from the days of Breitbart and National Pulse and being on War Room and other shows.
So it's guys very familiar with Rahim's, which is also in and of itself Kind of amazing, is it not, sir?
raheem kassam
Yeah, it is.
And it's true, though, isn't it?
I mean, these are people in that audience who have raised families through great adversity.
They're people who have served their country in law enforcement, in the military, so on and so forth.
Of course they know more.
Of course they know more than an NYU liberal arts grad.
But that is the clashing of civilizations that we're seeing taking place on this continent right now.
As we talked about with the music stuff, it's the arrogance of modernity versus civilizational wisdom passed down through history.
And the juxtaposition is so stark, so stark, that I'm actually willing to consider that we should put some money together And take 100 NYU students and 100 people from the Cowboy Church and put them in the same room and film it all.
Because I think that would be a fascinating moment.
I think it'd be a fascinating moment for the country.
I think it'd be a fascinating learning moment for those kids who are, you know, they grow up being told that they're going to lead this nation, right?
Whether it's in the creative arts, whether it's through, you know, popular media, whether it's through politics, NGOs, so on and so forth.
And they know nothing.
And so, even for me, I've got to say, no offense to you, no offense to Matt Gaetz, Andy Biggs, Eli Crane, no offense to myself, I wanted to hear more from the audience last night.
I did not want to hear more from that stage.
It was just a phenomenal crowd.
steve bannon
Amen.
And the questions were brilliant.
There's a term for this, Harnwa, I've got to get you in for this, because I want this a piece of nomenclature, I want the audience to understand.
What are we talking about here?
ben harnwell
We're talking about the inverted commas, the Whig interpretation of history, which is a formulation somewhat after the event, which basically, because there weren't any Whigs, I think, I think it was formulated around 1931.
But it was a formulation really to describe the Whig tradition of the preceding centuries.
And that's exactly what Rahim was just talking about.
Really, I couldn't define it any better than the way Rahim did, where you have The Whiggish view is that society is always moving forward, it's always evolving, improving.
It's progressing, progressing.
So that really sort of illustrates how progressives today are the natural heirs of the Whiggish political philosophy.
And you contrast that with, say, Edmund Burke, the Irishman, who was the father of modern conservatism, who's very much the antithesis of that idea, which is that we have the democracy of the dead, for example, and you have to Be as much in tune with our forefathers, to be coherent, to be honest, to what came before.
You revere what came before.
And under that perspective, if we say that today's woke are basically the heirs of the Whig interpretation of history, Well, we, say, for example, on the economic nationalist front, the populist nationalist front, we're very much in the philosophical tradition of Burke in conservatism.
Obviously, in both cases, updated to the modern political context.
steve bannon
But that's what the Cowboy Church arguments was.
It was Burke's dictum.
They understand our history and they understand we owe as much to those who came before us as, you know, as those who come after and that you're in this period of time with you use your agency and they understand it's not a natural progression that conservatism that's oftentimes it's about decline.
And what the progressives take as progress, we look as absolute implosion and collapse of a culture, and you can see that in the music discussion we had.
Hang on a second, I want to bring up Philip Patrick.
Philip, this gets back to also an understanding now of actually gold.
We talk about the converging factors that are happening, but you have very sophisticated people in the world, not just people at the Cowboy Church.
But people that would sit there and go, well, we're much more sophisticated financially.
They've got the HB-12Cs.
They've gone to Stanford and Chicago and Sloan at MIT and Harvard Business School.
They can do the numbers.
And they're sitting there, these central banks, they're buying gold in record rates.
And the reason they're buying gold is kind of Burkean, is that they said, hey, look, I don't know how smart we are, but this has been a hedge against turbulence For 5 or 10,000 years.
And we're going into times of turbulence on testosterone.
So maybe we ought to load up a gold is just a hedge your thoughts.
phillip patrick
Yeah, it's absolutely correct.
Listen, central governments around the world are buying gold at the moment for two reasons.
Number one, it is a very smart financial trade, right?
The US government, we've been printing money, we've been devaluing the dollar, and it's affecting nations around the world.
The dollar's lost 17% of its purchasing power since the pandemic.
Guess what?
Gold's up 20% in the last year.
So just as a financial trade, it makes sense.
and second of course we have the geopolitics right the dollar is is a stick we have been using to beat our strategic enemies for quite a while by holding dollars they strengthen the dollar and i think they're looking at each other saying why are we playing this game it doesn't make sense financially it doesn't make sense geopolitically and i think the game is up so we now have a world distancing from the dollar and we know how that affects us longer term so
I've said for a while we are being outsmarted and it's happening day on day on day.
steve bannon
I've got a couple of minutes here but I want to hold you to the break with the team.
One thing I can tell you from this audience last night, they are not big fans of fiat currency and because they see from a working man or from a middle class perspective what happens when you have a central bank that just reports to itself or to the lords of easy money on Wall Street and what's happening right now.
I mean this This thing of rate cuts coming up and more cash infusion, more liquidity infusion.
They look at it and see the purchasing power.
They innately know the purchasing power of that fiat currency is going to continue to decline.
And they have literally, as members of a democracy in a constitutional republic, have absolutely almost no say so in that.
Your thoughts?
phillip patrick
Well, it's absolutely, and you know, I speak to the Warren Posse every day as well, and the same thing is echoed, and I think it's a reflection.
Listen, at the end of the day, with the fiat currency, there's no constraints on government spending.
When we were on a gold standard, if the government was in dire straits, they had to go to the public.
They had to request permission to increase the money supply.
I think it is such an important decision.
It shouldn't be done On a whim, it shouldn't be done because of pressure from interest groups, right?
I think they're absolutely correct.
That was the beginning of the end for the US and I think the beginning of the end for the US dollar.
So I agree with the audience and I agree with both you and Rahim.
They are much smarter than the people that are currently running this country.
So some changes there would be welcomed.
steve bannon
Before we go to break, when people, because you know, we'd say go to birchgold.com slash band and it taught you one, you can get the end of the dollar empire.
Here's what's so amazing.
So many people came up to me afterwards and have read that and studied it.
And look, these people didn't go to business schools, right?
These guys haven't had the opportunity to go to Harvard, but they're smart enough, right?
And they kind of understand it going through a particular way.
We broke it down of the importance and really the politics.
of currency and how that was kind of taken out of people's hands with the setup of the Federal Reserve and the income tax and all that by the really the globalist progressives at the beginning of the 20th century.
But when you talk to them, do you get the same feel that these folks are pretty smart about what the current world situation is?
phillip patrick
Oh, yeah, absolutely.
And I think that this is why I'm so thankful to come on the show and have the ability to educate the public along with everyone else that you bring on.
But they're smart and they know what's happening.
I speak to them every single day.
The reports that you wrote, Steve, fantastic, very educational, very easy to digest.
And people are really, really enjoying them.
And more importantly, people are leaving more informed.
And I think with an election next year, that becomes more and more important.
So I would encourage everyone to contact us, read those reports, and just get a little bit more educated on money, because I think it's going to be a big topic for 2024.
steve bannon
Philip, just hang on for one second.
We're taking a short commercial break.
I told a story last night about the French Revolution.
unidentified
I just want Philip to hear.
steve bannon
Short commercial break.
The entire team's going to stick with us.
We've got a lot more to do and about 30 minutes to do it.
But we commit to you, we're going to get it done here in the War Room.
unidentified
We'll be back in a moment.
steve bannon
Welcome back.
Oh By the way, particularly, you know, we're running non-stop here, doing specials, doing town halls, up at AmFest, Warpath Coffee.
Warpath.coffee slash War Room.
You get your discounts, but try the Dark Roast.
Just try it.
We worked on this for a couple of years with Tej Gill and the team.
And Tej will be joining us over the Christmas specials and all that.
We're going to get Tej on here, hopefully co-host one.
But check it out today.
Get that big pot of coffee going after you've read The End of the Dollar Empire, the first four installments.
We're working on a fifth installment.
I can tell you something, Philip.
Folks are quite interested in why the Federal Reserve continues to print money, why the Treasury can't sell the bonds now, and they're a working class, middle class audience in Casa Grande, Arizona, about 300-350 people.
They're all over it.
I mean, they understand everything you're talking about.
They love your hits.
And, you know, they don't get why the Federal Reserve's continuing to print money, and they also don't understand why nobody's addressing the financial crisis.
And we talked about this firestorm we're going to have.
They're all ready to go to the ramparts.
They just need some guidance, which we're still trying to work through.
But brother, I'm telling you, The Federal Reserve putting out a digital currency is not going to sit well with these folks.
They don't think the Federal Reserve should be focused on that whatsoever.
And Ron DeSantis, this guy, has abandoned states.
This thing, I can tell you, in 2024, with everything that's going on, this is going to be a big one.
Real quickly, I told the story about the French Revolution, about how the French had lent us money In the 100-year war against the British, you had the French and Indian War, then went to the American Revolution, and to take care of the bonds, because they were really close to defaulting, they had to bring everybody together, raise taxes, and the finance minister said, hey, to make sure we can convince all the different states that we really need to get higher taxes on the people, Let's put out the books.
If we showed them the books, they would understand, and the king, you know, not being totally familiar with finance, said, do that.
So in these broad sheets, they printed the balance sheets and the income statements, roughly, and the people are sitting there, and look, they didn't go to Harvard Business School either, but they're sitting there, it starts getting explained to them, and they realize, hey, We're living in a paradise, but we're living in like the sewers of Paris eating rats.
And these guys are spending a trillion dollars in Versailles.
Let's roll out the guillotines.
It didn't quite work.
Let's say this.
They didn't get the support for raising taxes.
They got the support for the sharp end of a blade.
So when people, and the audience love it, when working class and middle class people understand the way the system works.
They sit there and go, this is the craziest thing I've ever heard, and I'm getting screwed.
The first thing is, I'm getting screwed, as they are.
Philip Patrick, your thoughts?
phillip patrick
I mean, it's absolutely correct, and it's very reminiscent, obviously, of what's happening today.
We have a country that's being run by global elites, where, you know, we have a president that's making decisions to support the elite, and it's the middle classes That are getting hit right and we're feeling it look at what's happening to our paychecks they're not doing what they used to write and we're being gaslit by the administration and i agree with you i think we're getting to the point where people are fed up i speak to them every single day like you said we're not stupid we know what's happening.
And I think people have had enough.
And I think that could be the only saving grace.
I say, you know, it's almost a benefit that Biden is gaslighting us on the economy because the people are not that stupid.
And I think it will be their downfall in 2024.
But it's a very good analogy because it feels like the French Revolution again.
Let's hope it doesn't end with guillotines, but with votes in the ballot box.
steve bannon
Yeah.
We don't promote the sharp end of the blade, but hey, so let's win.
No, by the way, so everybody in the audience loves you, Philip.
They love the hits.
They love going to Birchgold.
Birchgold.com slash Bannon.
You get all the free installments.
Philip and I are working over The holidays with the Birch Gold team to come with the number five and number five will be the most explosive we put out today.
I thought four was when we unearthed that.
It was only an executive order, a temporary emergency executive order that took us off the convertibility into gold.
Hey, for you guys to listen at the Fed and the investment banks hedge funds, not that we won't review that on the first afternoon of Trump's second term, right?
When we start looking at what executive order should we tear up and just burned out in the front lawn of the Of the West Wing.
Not saying we're going to do that, but it will be under review.
Philip Patrick, where do people go on your social media to get to you?
phillip patrick
Yeah, very simple.
At Philip Patrick on Getter.
Again it's at Philip Patrick on Getter.
steve bannon
Thank you, brother.
Philip Patrick, make sure you go to Birchgold.
Philip Patrick.
By the way, Jake Sherman over at Morning Consult, Grace got this to me.
Explosive polling, a breakdown.
President Trump's lead is coming from different demographics, different age groups, different ethnicities, different races.
Of course it is.
Get back to the Cowboy Church last night and what we're seeing here with Birch Gold, when they talk to the posse, they're calling them up.
People are fed up with it.
They're fed up with working their asses off, paying these incredibly high taxes, and having the consolidation of wealth in the country, and their bettors tell them the way things are going to be, including an invasion on the southern border.
I mean, we're down there in Arizona.
In Phoenix, about 100 miles from this invasion, people are tired of it.
Brett, what do you hear when you're out with folks?
dave brat
Well, yeah, for 20 years, the Tea Party, right, taxing up already.
They've been asking, Dave, when does it come to an end?
When does it come to an end?
And, you know, Reinhart and Rogoff at Harvard wrote their famous paper, after you hit 100% debt, GDP, that's it.
That didn't happen.
But I got a few charts here from David Stockman.
And what's happening, I watched Bloomberg Financial yesterday, and here's the answer before we get to the analysis.
They're saying, well, GDP grows at five, the economy's strong, the Federal Reserve has a tough problem on its hands, but we could be in a recession any time now.
How in the world can all the economic fundamentals be great, and yet they're talking still about entering a recession at any time?
And the answer is built into these charts we're going to look here.
And as you've been saying, we flooded the zone, right?
These Keynesian economists have flooded the zone with government spending, government debt.
And Stockman, I'll give him his line here.
He's got a great quote.
He said, has it ever occurred to these Keynesian boneheads That when it comes to the endless accumulation of debt, that there may come a state of diminishing returns.
Or that more debt today ensures less jam tomorrow.
In other words, less food.
So you're looking at this chart, and again, 1971 comes up, but Stockman doesn't cheat here.
He uses just nominal dollars, right?
So just no statistics.
You can lie with statistics.
He's just got nominal dollars over the long run, and he shows on that chart GDP, right?
The amount of stuff you make is up 2,300% over the long run, while collective debt is double that.
Collective debt is up 5,600%.
And so, accordingly, the U.S.
economy's leverage ratio, that's the purple dotted line, the leverage ratio soared 357%.
And so this chart is showing government debt, and all of the charts I have are the same chart.
They just show that there's no way you can keep the red line at the bottom, GDP growing at that rate, and then debt taking off through the heavens, and then that purple line above shows the leverage, right?
We're in debt up to our eyeballs, And it all started in 1971 when we got off the gold standard.
So the first chart was the government debt.
The second chart looks almost identical.
It's consumer debt.
The third chart is total debt, meaning government plus consumer plus business.
And the total debt, because of this new leverage ratio, we now have $100 trillion in debt instead of $50 trillion.
If we were sane and had the same leverage ratio we had back when we got off the gold standard, we'd have half the debt instead of 100 trillion, 50 trillion.
And then the final chart is the financial sector itself, right?
They're supposed to be the intermediaries, the wise guys, and they have just as big of a problem.
And so all of this is already posted at Brat Economics on Getter.
But basically, this explains why everyone's shaky right now.
Everybody knows a recession is imminent.
Another word for this, what I'm showing you, this increase in leverage is called a bubble.
steve bannon
It's all debt-driven.
dave brat
Right.
steve bannon
The debt can't be paid off.
These massive deficits.
You got fiat currency.
People understand this.
That's why they don't use Bidenomics anymore.
Dave, I know you got to bounce.
Thank you for sticking around.
So, like, where do they get you on social media?
And we're looking, I want to get you back on tomorrow for the Christmas season.
You're the best.
unidentified
Yeah.
dave brat
Anytime.
Great show, Steve.
Thanks much.
Brat Economics on Getter.
Go out.
All those charts are there with the summary, with the link to David Stockman, who was Treasury under Ronald Reagan.
A good track record.
steve bannon
Thank you, brother.
Rahim Ghassan, closing thoughts.
You've got a bunch of great analysis up.
I want everybody to read these about this town hall.
Very special town hall last night.
Very rare for us all to be able to come together at one time and the audience was the star and I agree with Rahim.
The questions were amazing.
The feedback was great and just the whole vibe of it was fantastic.
Your thoughts, sir?
raheem kassam
Well, I'm actually looking forward to your feedback on it, Steve.
I know you probably haven't had a chance to read the entire thing yet, but I start by talking about last night, by reflecting on the fact that just last week, You know, I speak for myself, actually.
I was in black tie, you were not, sitting at dinner at Cipriani on Wall Street.
You know, the 45th President of the United States is giving us shout outs from the stage.
And I start by saying in this article that actually, you know, I thought that might be one of the best nights of the year quite easily.
But last night came exceptionally close If not surpassing that, because there is just nothing like, I mean nothing like, you have to, the audience has to remember, I'm from West London, right?
I'm not from the west of the United States, and there is nothing like being in somewhere like the Cowboy Church, being in amongst real people, seeing not just the reality, you know, in their eyes and the The despondence, actually, in their eyes and feeling it, right?
Feeling it while they're feeling their country slipping away.
I was just looking at some video a moment ago of another 700 people come over the border this morning in Lukesville, Arizona, and 10,000 people on average every day over the last month.
And you feel in these people's demeanor, Not just, I mean, they're not depressed, by the way, they're angry, right?
And you feel that something will absolutely give way here, because these people, I just don't think you're going to sit around and take it anymore.
I made the point that when 1.7 million people came into Angela Merkel's Germany, you know, there were marches of tens of thousands of people in the streets in Europe at the time.
And the percentage per capita has already surpassed that in the United States today, but so many people have been cowed by January the 6th and other incidents.
But I don't think much longer.
I think you're going to start to see mass street demonstrations against this stuff.
steve bannon
Rahim Ghassan, brilliant as usual.
And I understand now why the Brits, who help finance most of what's the British merchant banks, why Brits, every time Brits either go to the Caribbean or like the desert in North Africa or the American West, they are absolutely suckered.
They're all in.
It's never, I guess it's too gloomy in certain sections of England, but when you get out to the sunshine, you guys really, you fall in love with it.
So thank you so much.
Honored to have you there last night.
And great analysis.
Real quickly, National Pulse, how do people get access to this?
How do they become part of that family?
raheem kassam
Yeah, just make sure you're following on all social media platforms at Raheem Kassam and TheNationalPulse.com.
TheNationalPulse.com forward slash war room.
Sign up.
We need your support to be reporting things like this from real America, concerns of real Americans, diving into the details on polls, reporting real news that comes out of Capitol Hill and beyond.
We need your support.
TheNationalPulse.com forward slash war room.
Thank you, Steve.
steve bannon
You guys did the best analysis of this U.S.
Steel thing too, I might want to add with Upton.
Okay, thanks for him, great.
Short break, back in a moment.
unidentified
He's a young bird peasant, who is he? Where, what, he's swearing.
Sir, he lives a goodly care, he's underneath a mountain, Right against a forest fence, wise they'd say he's a taunter.
Bring me flesh and bring me wine, bring me pine, lords, hither, Thou and I will see him die when we bear him this.
He died a king, and they are both so proud of him.
steve bannon
Okay, welcome back.
Um...
A couple weeks ago, by the way, Dr. Carol Swain is going to be my co-host for the opening of the Christmas Eve special we're going to do.
So we're going to get a lot more of her in the days ahead.
But I've got to get in here real quickly, and I'm trying to jam this in because she's done like 200 interviews.
It started here a couple weeks ago.
You made the comment In this whole firestorm with Stefanik and the testimony that, hey, no offense, Dr. Gay had been stealing your work for 30 years.
This is how, and people know Dr. Swain, this is how you got tenure at Princeton.
This is when you walked away from Princeton and got tenure at Vanderbilt, which is no small feat off of original research.
Just real quickly, It's obvious now, and you're doing interviews, you were the lead story on Daily Mail, the biggest newspaper in the world this morning.
Does Dr. Gay have to go?
Because not only does she steal your work, she's been obfuscating and, quite frankly, lying about it.
Dr. Carol Swain.
carol m swain
Well, wait a minute, Steve.
You started off by calling her Dr. Gay.
My contention now is that if you plagiarize your dissertation and you defend work that you didn't fully write, I'm not sure it's appropriate to call that person a doctor.
unidentified
Wow.
steve bannon
You would take away your Ph.D.
right now?
carol m swain
I mean, what do you do?
You get a Ph.D.
when you write an original thesis and you defend it before a committee and they have that celebration and wine and cheese and they call you doctor, you know, whatever.
That's part of the process of academia.
And I don't know what should happen in the case of a dissertation that was plagiarized.
I have said all along that she'd go back and look at her senior thesis and then work that was plagiarized and so all of it seems very fraudulent and it doesn't make me happy.
I'm still sad but I'm a bit angry but I'm just hoping that good comes out of this and the good would come from Harvard doing the right thing.
They need to release her from, put her on administrative leave with pay, I don't care if she has leave with pay, and work out a separation agreement and then they need to go out and find the best possible person to replace her and it might be a middle-aged to elderly Protestant or Jewish white male.
They need someone that's committed to classical liberalism and Someone that believes in all the things that classical liberals, you know, used to believe in to try to bring sanity back to the university.
steve bannon
Dr. Swain, this is the thesis of your book.
I know you got to bounce, and thank you for carving out time.
We started this with you, and you were very, as you always are, with a kind heart and all of it, but you're kind of getting tougher on this, and we agree with you.
Your book is about this.
Where do people go to get your, not just your writings and your news site, I want to get to all that, but you've got a new book out that essentially addresses this topic.
carol m swain
Well, my book, The Adversity of Diversity, And I'm going to turn it's behind me.
You can see it behind me and it talks about just why diversity programs need to be struck down.
They violate civil rights laws.
They violate the Constitution and you can buy the book, you know, from Amazon or through my website where it would go to a Christian bookstore, but that book has been fought tooth and nail. I doubt if it's sold 5,000 copies because the left has been able to effectively suppress it.
steve bannon
We'll make sure we get it out and push it hard.
Just before I let you go, you're adamant she should be put on administrative leave, even with pay right now, but a separation agreement.
So she should be removed as president of Harvard.
And you believe actually her PhD should be held in abeyance until she can go back and prove her original research.
Is that what I'm hearing?
carol m swain
Well, Steve, the reason I say she should have administrative pay, I'm trying to make it easier for Harvard.
It would make good optics to do the administrative leave with pay.
She really should be fired outright.
And I don't believe that you get a do-over for something that serious.
I think you have to suffer the consequences and be held accountable like the rest of us would be, unless we were progressive Democrats.
They have a different set of rules for themselves.
steve bannon
Dr. Swain, thank you very much.
I look forward to teaming up with you for the first part of our Christmas Eve special.
Thank you, ma'am.
Dr. Carol Swain, who the president of Harvard ripped off her research and took it for her own.
And Carol Swain is a voice that people listen to, a former full-tenured professor at Princeton, which ain't easy.
Mike Lindell, how we doing on the factory floor of my pillow?
That's what the audience wants to know.
unidentified
Well, we're doing great, Steve.
I just want to give a quick update, too.
Everyone's hearing all this stuff with President Trump, our real president out of Colorado.
We posted a whole bunch of hope at LyndalePlan.com, everybody.
Remember, they keep attacking him.
He'll end up with more votes than voters, like Pennsylvania always does.
But everybody, we want to say thank you all for supporting my pillow, and we've continued the free shipping.
For all of you out there at the War Room Posse, free shipping.
We have the flannel sheets, get those.
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Free shipping on your entire order.
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Those are expensive to ship, but they're all on sale and it's free shipping to the War Room Posse as a thank you to all of you, what you've done for us these past months and have been our biggest supporter.
The Roll & Go Anywhere MyPillows, the slippers, these are all going to be going off sale in the next couple of days.
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The Roll & Go Anywhere Pill is $9.99, you guys.
Get as many as you want.
And we've got the Gee's The Dream sheets on sale besides the flannel sheets.
But those flannel sheets, those are war room sheets, Steve.
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steve bannon
800-873-1062 is the number.
MyPillow.com, Promo Code Worm.
Everybody last night in Casa Grande knew about the promo code, Mike, so thank you very much.
Honored to have you on here.
Look forward to having you on this afternoon.
Mike Lindell, fighting hard.
Whether it's Colorado or these other swing states.
Gonna leave you with some Christmas music.
Charlie Kirk next.
Jack Posobiec.
We are back from 5 to 7 tonight.
When we will be back for the late afternoon, early evening edition of World.
unidentified
Until then, stick around, see Charlie and Jack.
Thou and I will see him die when we bear him thither.
He's among our four favorites, four favorites together.
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