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Feb. 16, 2024 - Bannon's War Room

48:48

Episode 3396: Death Of Navalny; Positioning Kamala For Leadership

Participants

Main voices

ej antoni

05:44

kash patel

06:14

steve bannon

29:36

Appearances

mike lindell

02:07

rick santelli

02:21

Clips

jake tapper

00:08

kamala harris

00:56

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Speaker	Time	Text
rick santelli ▲ ● ▼		Because every month it's going to change, but here's the key. First of all, January is not the highest read, okay?
		In 2021, the high read was July, in 2022 was March, in 2021 it was November.
		And by a significant margin, over January.
		Told you.
		And if you look at all the seasonalities, we've revised.
		I have these big charts all over the room of all the numbers.
		That's what I look at to give you.
		Big boards.
		I had to redo them.
		There's been so many revisions.
		Why?
		Because they want to get the seasonalities better.
		So I understand that January might be a little freaky sometimes, but it certainly doesn't be a standout.
		If this number was half or much less than half of the current inflation rates, would all of the people talking about it's one-off, would they say it's a one-off cooling of inflation?
		There's a huge bias here.
		Inflation is running hotter.
		Growth is slowing.
		That is the definition of stagflation.
		Whether it actually happens or not, Nobody on this panel, nobody at the Fed, and nobody in DC knows for sure.
		Three months ago, they thought all these numbers were going to be significantly smaller, and they were wrong.
steve bannon ▲ ● ▼		This is the primal scream of a dying regime.
unidentified		Pray for our enemies, because we're going medieval on these people.
steve bannon ▲ ● ▼		You're not going to free shot all these networks lying about the people.
		The people have had a belly full of it.
		I know you don't like hearing that.
		I know you've tried to do everything in the world to stop that, but you're not going to stop it.
		It's going to happen.
jake tapper ▲ ● ▼		And where do people like that go to share the big line?
unidentified		MAGA Media.
jake tapper ▲ ● ▼		I wish in my soul, I wish that any of these people had a conscience.
unidentified		Ask yourself, what is my task and what is my purpose?
steve bannon ▲ ● ▼		If that answer is to save my country, this country will be saved.
unidentified		War Room. Here's your host, Stephen K. Bamm.
steve bannon ▲ ● ▼		Friday, 16 February, the year of our Lord, 2024.
		for watching.
		All signal.
		No noise this morning because in the fog of war, we've got to cut through it and see very, very clearly and see what our path of action is.
		So we're going to go from we're going to talk about what's happening in Munich at the Munich conference.
		We're going to talk about the mafia.
		Hit signal they sent Putin sent sent Munich today with killing his or Just the timing his number one critic died in an Arctic prison Everything's going to Munich have plays back into Capitol Hill and remember we had any bigs on yesterday and Congressman Biggs told us he just stepped out of the conference, which he said was very heated.
		In the conference, they talked about, as Andy told us, whether you're going to fight, die on the hill of a CR and not have it force Biden to the table.
		He said, look, you're going to get a minibus, an omnibus.
		This thing's a complete throwdown.
		So Eli Crane and Byron Donalds are going to join us later to talk about this.
		We've got strategy, we have war, we have geopolitics, we're going to throw some AI in there, but we're going to start first with money.
		And I want to say, I'm really proud of the Dave Bratz and the Peter Navarros.
		You heard Santelli right there say the stagflation word.
		The Brats, the Navarros, the Jason Trennert, Scott Besson, others that either help us behind the scenes working on the math or have been on the show and talked about it.
		E.J.
		Antoni is probably the tip of the spear because he's been so right.
		He's a numbers nerd, and he's been grinding this.
		He's been so right on many things, and again today, and you just saw Santelli.
		In fact, E.J., what I want to do is, in bringing you in, if Denver can replay this, because the panel beforehand, you've got to remember, the panel beforehand, we don't remember because you didn't see it.
		Let me set this up.
		The panel you're about to see on CNBC is Rick Santelli's always been the voice of reason.
		Remember, he's the first one that gave the really talked about the Tea Party in 2009 about the bailouts.
		Really kind of like a Paul Revere type that kind of kicked this whole thing off.
		The panel is sitting there making excuses about how this is seasonal, how this is not a problem.
		This is just an uptick.
		And here's the reason.
		They're all, including the Treasury and the Federal Reserve, for the first time in history.
		It's not about helping out a president as Secretary of Treasury.
		That always happens when you're in an administration.
		That's just normal course of business.
		This is something quite different.
		But as EJ and War Room have told you over and over again, there are structural issues that these guys have doubled and tripled down on, that now you have a structural problem.
		And the structural problem ain't going to go away.
		In fact, if I can do this first, can we pull up the chart of the deficit chart?
		I want to show the deficit chart.
		There's a deficit chart.
		That was done by... EJ, who's your colleague over at Heritage?
		David... is it Dirks?
		What's his name?
unidentified		David Ditch.
steve bannon ▲ ● ▼		He does these amazing sets of charts.
steve bannon ▲ ● ▼		David Ditch.
unidentified		David Ditch.
ej antoni ▲ ● ▼		He also works in the Budget Center.
ej antoni ▲ ● ▼		Does a terrific job.
steve bannon ▲ ● ▼		David Ditch is the man.
		You know, he's one of these guys grinding it down there in the Budget Center.
		But if I can get that chart...
		And for those of you that are listening on the podcast or those of you listening on our vast radio network with John Fredericks, please go to warroom.org, get to Grace and Amoe, get on the email list.
		You must get the videos we put up every day and particularly the charts.
		This will only improve, totally free.
		It will only improve your war room experience.
		So here is taking the Congressional Budget Office, kind of, they're supposed to be like Caesar's wife as far as budget forecasts, and they do one annually, EJ, as you know.
		They put out their forecast, and David was so good to kind of take what they put out and put it in chart form, put it out there.
		Folks, that's reality.
		I want to give you a reality check.
		This is reality.
		This is also republic ending.
		As you see the lawfare we're going to have today, and we're going to be dipping in and out of Atlanta.
		Fannie Willis is not up today.
		She's had enough, or she's, I think, perjured herself enough.
		So you got the lawfare in Atlanta.
		President Trump right now, I think, is scheduled to give a 5 p.m.
		press conference thereabout, maybe.
		We'll be covering it live, because the Moscow show judge is going to take his business away from him today and charging with a multi-hundred million dollar fine.
		Joe Biden's going to go to East Palestine.
		Our own Ben Burquham, Real America's Voice kind of Ben Burquham, seems to be recovering all this.
		But let me give you a reality check.
		All this revolves around that chart.
		That chart, as much as Mike Davis and the great guys at Article 3 say this lawfare is republic ending, and I think he's correct, at least as a constitutional republic, this right here is not just a constitutional republic, this is like America ending.
		Let me be brutally frank.
		It is impossible.
		We'll be like the Weimar Republic if these numbers come true.
		And right now, they're coming true.
		In the conference fight that Andy Big stepped out of, and the great guys, and I gotta give a hat tip to Jake Sherman and the team, although Jake Sherman's no MAGA.
		The Punchbowl guys, and if you haven't signed up for their newsletter, it costs you some money, and I mean, it's mainly for insiders.
		But it's well worth it if you like this super inside baseball.
		He described the conference yesterday as a complete throwdown.
		Guys screaming at each other, almost fist to cuffs.
		People saying, no, we have to force Biden to the table.
		No more CRs.
		Other people saying, oh, no, no, no, no.
		It's ridiculous.
		The appropriator saying it's ridiculous.
		That chart is reality.
		And what they came up on the on the one year CR EJ.
		Here's the solution.
		A $50 billion cut.
		This is like Johnson talking about a $16 billion cut the other day on IRS.
		We are living... The Uniparty... Here's the point.
		People are so afraid and they're locked in fear.
		of what it takes to stop this, while others understand that they are exploiting it and making money off it, particularly the puppet masters on Wall Street in the oligarchs in Silicon Valley, that they're going to continue on.
		You understand why your life sucks Economically, you want to know where you got two jobs and you can't make ends meet and you got to gap it with a credit card that's 30% APR and that every penny you get as a bonus anything that you go to pay down the credit card just a little bit you want to know why you're in a hamster wheel you want to know if you're under 35 years old why you don't own anything you're not going to own anything including a house or even a piece of the action on stocks or ETFs or mutual funds you want to know you want to know why that
		That chart is the, if that chart, if we hit that chart, if every, if that chart and the slope of that chart is correct, this country's finished as we know it today.
		It will be something quite different.
		And this is, you saw another example today, and that is, let's play Santelli again.
		I'm going to bring EJ back and EJ is going to comment.
		Let's play Rick Santelli this morning, going up against the, the progressive Democrats on the panel over at CNBC.
rick santelli ▲ ● ▼		because every month it's going to change. But here's the key. First of all, January is not the highest read.
		OK? In 2021, the high read was July. In 2022, it was March.
		In 2021, it was November.
		And by a significant margin, over January.
unidentified		Told you.
rick santelli ▲ ● ▼		And if you look at, if you look at all the seasonalities, we've revised, you know, I have these big charts all over the room of all the numbers.
		That's what I look at to give you big boards.
		I had to redo them.
		There's been so many revisions.
		Why?
		Because they want to get the seasonalities better.
		So I understand that January might be a little freaky sometimes, but it certainly doesn't be a standout.
		And, if this number was half, or much less than half of the current inflation rates, would all of the people talking about it's one-off, would they say it's a one-off cooling of inflation?
		There's a huge bias here, okay?
		Inflation is running hotter, growth is slowing, that is the definition of stagflation.
		Whether it actually happens or not, Nobody on this panel, nobody at the Fed, and nobody in D.C.
		knows for sure.
		Three months ago, they thought all these numbers were going to be significantly smaller, and they were wrong.
steve bannon ▲ ● ▼		Oh, by the way, Nike just announced they're laying off 2% of their employees.
		That's 1,500 jobs cut and a massive restructuring.
		EJ and Tony, the floor is yours, sir.
ej antoni ▲ ● ▼		Steve, this is one of those cases where I really hate to say, I told you so, because it's not good news.
		This is fundamentally terrible.
		As you said, we're talking about Republic-ending stuff right here, but the CBO has finally admitted to what you and I discussed about a half a year ago, which is that the debt is becoming so big and servicing the debt is becoming such a problem that we're actually going to hit a new record high, not just in terms of how much we're spending in interest on the debt, But the size of those interest payments relative to the size of the entire economy, that's going to hit a new record high next year.
		The CBO has finally admitted to that.
		But here's where the forecasts start to diverge.
		Whereas the CBO says interest rates are somehow magically going to start going down.
		and also inflation is magically going to go down and the flood of immigrants across the southern border is not only going to continue but is somehow going to add seven trillion dollars of economic value to the economy over the next ten years and by the way there's no recession in the forecast for the next ten years so with all of these insanely rosy assumptions you get the chart that you see before you right now
		As soon as you start taking out any of those overly optimistic assumptions that the CBO makes, it all falls apart, and we go off the cliff very, very quickly.
		So this idea that somehow what the CBO has laid out, while it's bad, the idea that it's realistic, I'm sorry, but I just don't buy it.
		Everything, I mean, just the stars have to align absolutely perfectly.
		This is a best-case scenario.
		And it is still terrible.
		And then you have people who say, oh my goodness, very soon interest is going to eclipse major categories like defense spending.
		It already has.
		Again, this is something we talked about months ago, except that you have people playing these shell games where they start talking about Gross interest on the debt, excuse me, they're talking about net interest when they should be talking about gross interest.
		Net interest is basically a made-up category from the Treasury where they essentially play with the numbers and they say, well, let's subtract out any interest income that the Treasury is receiving.
		So if people are behind on their taxes, let's say, and interest is accruing on those accounts.
		They start subtracting it from the interest on the debt.
		The actual amount we spent to service the debt during the last fiscal year was $879 billion.
		But the Treasury and the CBO recorded net interest as only $659 billion.
		In other words, they knocked off $220 billion.
		So if you actually look at the true amount we're spending to service the debt, it is already larger than defense.
		It's already larger than Medicaid.
		There are only two line items in the entire Treasury budget that are bigger right now.
		It's the Social Security Administration and the Department of Health and Human Services.
		Everything else, interest is already bigger and it's getting worse and fast.
		This is why it is so important that the true conservatives in Congress really put their foot down right now.
		There is no more time for games.
		There is no more time to kick the can down the road.
		We need real cuts.
		We need them now.
		If you're not going to make those cuts, then shut the government down.
		You get your way in either of those cases.
		Either you get substantial cuts and you pass a real budget, or you don't pass a budget, in which case the cuts are going to happen because the government can't spend money that's not allocated.
steve bannon ▲ ● ▼		EJ, just hang on for one second.
		We're going to bring you back.
		We're going to have Harnwell from Rome.
		Cash is going to join us.
		We're going to tie this all together with where we are strategically.
		But the math is absolutely horrible.
		It's been reaffirmed by the print today on inflation.
		Short commercial break.
unidentified		Here's your host, Stephen K. Bass.
steve bannon ▲ ● ▼		So how – we're going to walk you through this, both the money side and then the spending side and the defense side, all of it, geopolitics.
		Put some AI in there too so you understand what they're trying to do, the sidebar, which is really what's driving it to a large degree on the side.
		Then we're going to finish with the politicians, with Eli Crane and Byron Donalds to talk about.
		And I think Donald, you're seeing Byron Donald step up and take a, I think, a leadership role.
		I mean, he was the most forceful yesterday of saying, as MAGA and the Republicans, you can't possibly go along with this.
		Let's put that chart up again for a second.
		The chart for those on the radio and podcast is the deficits from here to, I think, in the next 10 years.
		There's a red line across it, horizontal, which is the trillion dollar level.
		You have trillion dollar, you have over trillion almost, and I think these are going to be two trillion.
		And our numbers have been right, this year's two trillion.
		Because of decreased tax revenues and more side pocket spending than when you actually count it up.
		That's republic ending.
		This is why we keep telling you to go to birchgold.com slash ban it.
		This is why we did the end of the dollar empire starting when Biden and this regime took over.
		We understood that they were running the country and that Wall Street was going along with it and the establishment Republicans on this radical theory called modern monetary theory.
		That when AOC and these people and this radical French economist that wrote the book, I think it was called Capital, not Marxist, not Das Kapital, but Capital, this book that came out a couple of years ago, people laughed at it.
		But they ain't laughing now because this is how they've actually run it.
		It's not just Keynesian, it's an insane form of Keynesian macroeconomics.
		And it's going to bring this country, it's already bringing this country to its knees.
		And here's the thing inexorably, you're going to be drawn and keep going.
		This is the point.
		This is the point.
		And of course, you look, you get NVIDIA and people are, well, Steve, stock markets are fired.
		It's the Mag 7 driven just by the artificial intelligence part of it, which much as that is just hyped right now.
		Gary Gensler, who's no friend of MAGA actually said the AI washing in the stock market's outrageous and the SEC is going to step in there.
		That's just hype and hysteria with NVIDIA and these other companies.
		It's like Tesla back in the day.
		Remember Tesla was $1.6 trillion.
		I think it peaked at $1.3 or $1.4 trillion market capital.
		Well, it ain't there today, folks.
		Right there is reality.
		And that's not going to stop.
		This is why I go to burstgold.com and talk to Philip Patrick.
		Philip's going to join us for a half hour tomorrow in the morning show to go through this in addition.
		But this print today shows you, and this is, remember, The head of the Federal Reserve and the Secretary of Treasury in the first week of December told you the exact opposite.
		Here in the War Room, we had E.J.
		Antony, we had Dave Brat, we have Dr. Peter Navarro, and we sat there and said, no, this is wrong.
		This is all about stopping Trump.
		What they're doing is joining forces to stop Trump.
		They will do anything.
		They will pump any money.
		They will go to any pool of capital that they have.
		Scott Besson came on here and said, look, it was the Treasury General Accounts, that pool of cash that she kind of has on the side.
		Right now they're propping up the commercial banks.
		This is the way that with the commercial real estate, not the commercial, but the community banks, or regional banks, with the commercial real estate in the cities where it is, because the cities are turned to hell holes.
		Hello, New York City, Chicago, Los Angeles, San Francisco.
		That the regional banks that have most of the commercial real estate loans on their books, not the money center banks, the regional banks, are also being propped up by Treasury right now.
		And that facility, I think EJ is supposed to end in 60 days.
		David Sachs No friend of War Room and the guy in back of the Silicon Valley bank bailout, but a very smart guy, kind of Elon Musk wingman.
		He's been banging the drum on this thing forever saying, hey, that facility runs out in 60 days.
		You're going to have collapse of the regional banks unless you guess what?
		Guess what?
		Have another bailout, a behind the scenes bailout by fiat currency being pumped in the system.
		Don't believe me?
		You don't need to believe Steve Bannon, you don't need to believe EJ Antoni, or Peter Navarro, or Dave Bradd, or all, because all the great guys, that's just a boardroom crazy talk.
		Look at the Wall Street Journal, today they finally, uh, you know, this interest rate thing could capture the defense.
		Dude, we said that over a year ago.
		We told you all of this over a year ago.
		Look at that chart.
		That chart is reality.
		And that chart is Republican.
		And when you look at that chart, and you look at those kids running around in the backyard, You know, playing?
		Understand that their life is going to be very different than how you were raised.
		Because it is over.
	It is over.
	And the responsible institutions, you're betters.
	Because remember, you're nothing but a bunch of domestic terrorists, Christian nationalists, breathe through your mouth.
	You're dangerous.
	You're dangerous, and look at what they've done to this country.
	But you're dangerous.
	Oh, by the way, and E.J.
	Antoni says the quiet part out loud, where Powell sang the other day on 60 Minutes, oh, yeah, well, really, the way even the inflation came down a bit was the illegal alien labor drove the labor costs down.
	Because you know why?
	African-American low-skilled workers and Hispanic low-skilled workers, their wages were the problem.
	That was the problem.
	Thank you.
	I'm glad we solved for that part of the equation.
	Screw you, you just crushed them.
	You crushed them.
	You know why?
	Because they're powerless.
	You know why they're powerless?
	Because they've let the Democratic Party talk them into voting for them, their own destruction, their own economic destruction.
	But here's the beauty of it.
	As EJ said, you think those numbers are bad?
	The way they've baked these numbers, You got, and by the way, Don Bacon, the genius Don Bacon and these guys, they put up a new bill today.
	They stripped their only $66 billion, not $95 billion, $66 billion to go to Ukraine.
	$66 billion to go to Ukraine, Israel, everything.
	But they've got some border provisions on it.
	No deportations.
	Those numbers you see, the CBO has now just gone and taken the 10 million illegal alien invaders and they've actually baked them into the equation.
	If you think these people are going home, Unless Trump returns and you have his back?
	Are you kidding me?
	Wall Street, the Federal Reserve, the Treasury, and Congress, the Congressional Budget Office, are already planning to have it baked into the system.
	That math, the CBO guys make sense.
	Yeah, by the way, some assumptions.
	It's in the system.
	Hey folks, you got played.
	And they drive down costs in labor force, but their consumers, all of it consumed.
	They of course, they don't count the money they're sending back to Mexico, the trillions of dollars.
	It's in the system.
	Hey, folks, you got played.
	African-Americans and Hispanic citizens that somehow didn't vote for Trump in 2020, suck on that.
	They are crushing you.
	That's part of their program is to destroy you.
	Destroy you.
	On your back, they built this model.
	The 10 million, not only don't get deported, they're going to make the argument, you can't do that.
	It's a central part of lowering wages and driving consumer spending because they spend every dollar that they get.
	You have to do it.
	You have to do it.
	This is where we are in modern America.
	And of course they say it different ways.
	I mean, this is why we have Navarro and EJ and Tony and Dave Brat and myself and others can sit there and pull this together and say, oh, and in the great Rick Santelli who called him out today.
	Santelli is still the best.
	He's still the he's MAGA.
	He's the best.
	He called them all out there at all talking big talk.
	He called him right out.
	That chart, and thank the brother over at Heritage to put it together, just very simple, is Republic ending.
	And they're going to say, no, no, Steve, this percentage, this percentage.
	No, no.
	You can already tell.
	When you look at that credit card bill every month, when you look at that car loan, when you look at that mortgage payment, when you look at the second mortgage payment, when you look at all of it, not just the Fed anymore, it's kind of gotten even out of their hands.
	Because as EJ and Tony told you six or eight months ago, hey Steve, we've got to refinance a third of this every year and Janet Yellen's not going to be selling tens and thirties because nobody wants to buy them.
	Right?
	And they can't jack that up and nobody's going to buy them.
	So she's just going to do short term.
	She's going to do notes and bills and whatever she does short term to keep Biden propped up.
	Everything's propping up Biden, right?
	Not just that he's demented, and the report says he's got too much dementia to stay in trial, but he's fine to be commander-in-chief of the United States.
	How does that work?
	Not that Kamala Harris had her big coming-out party this morning over in Munich of everywhere.
	She announced her presidential run in Munich.
	Does that make you feel good?
	With the globalists.
	She takes center stage today and tells you how it's going to be.
	She takes center stage and tells you how it's going to be.
	But there you see it right there.
	The fix is definitely in and it's on your back.
	And it's not gonna get better.
	Because as EJ and Tony told you, they gotta churn this, a third of this, and it only gets bigger.
	See that blue line?
	Every year that gets added to the face amount.
	That's how you get to, and this is why Cain was so brilliant the other day.
	Cain took the debt clock and put it forward four or five years.
	And it shows you in the current math as it's actually running on the, on the algorithm, on the, they got there, it's much bigger than what they're telling you.
	Oh, it's going to be $50 trillion in 10 years.
	Yo, in five years, we're going off the cliff and we're going off the cliff with the fricking pedal right down to the floor.
	Repeat that with the pedal to the floor and anybody, anybody that sits there and goes, We have to stop this now.
	We have to have this fight now.
	We have to get this in front of the American people now.
	Don't believe me.
	Look at Jake Sherman's punch bowl.
	He tells you the appropriators, the Cardinals are telling Donalds and, and, and, and Gosar and Biggs and Gates and Eli Crane, you guys are idiots.
	You're idiotic.
	If we have a, if we have a shutdown of 15% of the government, Caitlin Collins and Abby Phillip, And mourning Mika, they're gonna say bad things about us.
	And they're gonna have people at the war monument down there that can't get in, and it's gonna be terrible, and we're gonna get hammered.
	You people are gutless clowns, because this nation is being destroyed before our eyes, and it is Wall Street, and Silicon Valley, and these hack, uniparty politicians that are doing it.
	And the only people that are standing up for it are MAGA.
	And this, ladies and gentlemen, is why they hate you, and this is why they are out to destroy your champion, Donald J. Trump.
	Make sure you go to Birchgold more than ever.
	Don't believe me?
	Don't think you need a hedge?
	Look at that chart.
	Call it.
	Birchgold.com.
	Talk to Philip Patterson.
	EJ's going to stick with me for a second.
	Kind of took all his airtime last one.
	I got Cash.
	We had Harnwell, Joe Allen, everybody in the war room.
	Back in a moment.
unidentified		I'm reminded by your soul, oh, it's true.
		Modern day, oh, they want...
		Warren.
		Here's your host, Stephen K. Bamm.
steve bannon ▲ ● ▼		This is why we need everybody at CPAC.
		CPAC is going to be the War Against Globalism.
		CPAC.org.
unidentified		It's $95.
steve bannon ▲ ● ▼		We've got a special deal for the War Room Posse.
unidentified		$95.
steve bannon ▲ ● ▼		We're also on Wednesday going to have Force Multiplier Academy.
		You get a free lunch.
		It's going to be from basically 1 o'clock to like 4 or 4.30 until we have to get ready for the afternoon show.
		We're going to have a ton of our people there to not just meet you, but get you into the mode of having a great CPAC, what's going to happen, but also to talk about Going forward the whole thing is firing off the football here.
		I think I haven't officially announced it, but I think they will I'm giving the closing Keynote address on Saturday afternoon.
		The president's will speak Saturday earlier, but there'll be other Speakers after the president and I think I'm gonna wrap this thing up.
		Also if I can get to sign off by Matt Schlapp we're gonna talk about the vice presidents what's gonna happen with VPs a lot of the VP candidates are gonna be there and $95 ticket, get it today.
		Also, the Force Multiple Academy.
		Get to Grace.
		Grace is going to tell me.
		Oh, go to warroom.org, Grace.
		I think if you can tell our producer here, the infamous Cameron, what's going on.
		I think it's warroom.org.
		You've got to sign up there for Wednesday.
		We want to get a head count.
		We only get room for 200, but we're serving you a lunch.
		So, hey, anyway, you get a free lunch.
		A lot going on.
		Want to see at CPAC.
		EJ and Tony, your closing thoughts.
		You've been amazing.
		In fact, I want to send you, is it Dirch or Ditch?
		I want to send you two guys back into the whatever room Kevin Roberts has got over at Heritage.
		I want to put you guys back in and keep cranking numbers.
ej antoni ▲ ● ▼		In the Down in the Heritage skiff, absolutely.
		Steve, I think one thing that we want to keep in mind here, and it flies in the face of a lot of these CBO assumptions, is the fact that these interest rates that we're currently seeing on treasuries are going to go up.
		They have to, because we have just under $500 billion of cash on the sidelines right now, and the only reason It's being kept on the sidelines is because the Fed is paying interest at over 5% for banks to keep it there.
		So the only way banks are going to shift from lending all that money to the Fed to lending it towards the Treasury is if the Treasury is offering a higher rate because the Fed gives them flexibility.
		They're only lending it for 24 hours.
		The Treasury is asking to tie it up for a minimum of four weeks at a time and obviously all the way up to 30 years.
		So we're gonna see these rates go up on treasuries, which means the borrowing costs on the debt are going up even more, which means also the deficit is going to be worse.
		So it just underlines how bad this situation is.
steve bannon ▲ ● ▼		Hang on, hang on.
		I want to hit rewind to give it a minute.
		Ladies and gentlemen, E.J.
		Antoni is about to give you super inside baseball about how the system actually works, okay?
		And this is what they're doing to keep rates down.
		Explain the overnight what they're doing.
		Because right now, remember we told you, Jim Carville used to say, when he comes back, For his another life, he wants to come back as the bond market.
		Because Bob Rubin ran the Clinton administration, and the reason they had a pretty good economic run there, he ran it for the 10-year, to focus on the 10-year bond.
		As we've told you before, the 10-year treasury is what sets the interest rate for so much others.
		Right now, Janet Yellen ain't selling tens and thirties, right?
		Number one, nobody wants to buy them because they're so petrified.
		They see that chart.
		They had the BRICS Nations.
		Remember the other guys trying to get away from the dollar?
		They run the numbers.
		They see that same chart.
		In fact, I think their internal chart is probably worse.
		They say the United States is going to spend much, tax revenue is going to be less, they're going to spend much more.
		It's going to be a fiasco.
		But how does, what's the scam right now?
		How does she keep it down?
		Talk about the 24 versus, and now they're on 30.
		When I say bills and notes, she's still in 30s, 90s.
		They're financing this as short term as they have to, but those rates are eventually going to pop.
		Tell me how, tell me how she holds it down right now.
		Give me a minute on that.
ej antoni ▲ ● ▼		Well, Steve, what they're trying to do, both the Treasury and the Fed are essentially working together, or colluding on this, is they're trying to engage in yield curve control, meaning they're trying to keep down the interest rates on those bonds, the longer-term debt, and so they're allowing the interest rate on the short-term debt to go up faster.
		And the reason they're trying to do this is because they're petrified of letting those 20 and 30-year bonds get, you know, 5 or 6 or even 7% interest, which is where they should be right now.
		And so even as the Treasury is issuing all of this short-term debt, what is the Fed selling?
		They're not selling off those long-term securities.
		They're mostly selling off the short-term securities.
		So that's how they're working together.
		But where they're at loggerheads, is the fact that the Fed has been sterilizing two and a half trillion dollars of cash. In other words, they created all this money for the Treasury to spend, but then they paid banks to just keep it locked in the vault. That has been coming down, but to get that last half a trillion dollars or so out and back into the market so the Treasury can borrow it, the Treasury is gonna have to offer a higher interest rate than the Fed does. Right.
steve bannon ▲ ● ▼		Also, this is the whole thing about that thing with the regional banks.
		They're propping them up with this other facility.
		Oh, by the way, the facility buys treasuries.
		But that's for another day.
		It's a con, ladies and gentlemen.
		You're being screwed and you're paying for it.
		That's why you're kind of the protagonist in this Greek tragedy, right?
		Because you're the decent person.
		You're the good householder, right?
		Which is the foundation of any civilization.
		But the good householder here literally gets screwed every second of every day.
unidentified		E.J.
steve bannon ▲ ● ▼		Antoni, where do people get you?
steve bannon ▲ ● ▼		Where do people find you?
ej antoni ▲ ● ▼		Best place to find me is on X. The handle there is at real E.J.
ej antoni ▲ ● ▼		Antoni.
steve bannon ▲ ● ▼		E.J., thank you.
		Thank you for running the numbers.
		Fantastic job.
		Thank you for having me.
		Let me play Kamala's coming out party.
		Kamala's on the international stage today.
		They don't have Joe Biden responding to this.
		They got Kamala Harris.
		Cash and Harn were going to join us.
		Let's let her rip.
kamala harris ▲ ● ▼		I believe it is in the fundamental interest of the American people for the United States to fulfill our longstanding role of global leadership.
		As President Biden and I have made clear over the past three years, we are committed to pursue global engagement.
		To uphold international rules and norms.
		To defend democratic values at home and abroad.
		And to work with our allies and partners in pursuit of shared goals.
		As I travel throughout my country and the world, it is clear to me, this approach makes America strong.
		And it keeps Americans safe.
		However, there are some in the United States who disagree.
unidentified		Hang on.
steve bannon ▲ ● ▼		Maybe I should let that run out.
		Anyway, we're the ones that disagree.
		Hold it right there, because I'm going to come back to it in a second.
		Okay.
		You think you got a bad problem here with the numbers?
		You think you got a bad problem with the math?
		She, that's, that's your leader.
		That's your leader of the free world right there.
		That's her in front of the world's nations.
		And this is, this is, this is what Biden, the reason they can't get rid of Biden, one, he doesn't want to go and there's no mechanism to do it.
		The other, that's the cover bid.
		You're seeing the Democratic cover bid is right there.
		Kamala.
		And she's striking fear in the heart.
		People are so confident after this talk and her presence, her brilliance, her understanding, her grip on things.
		Kash Patel in the Kremlin, the KGB.
		The KGB sent a love note to the Munich conference this morning as they, I don't know, assassinated him or walked Putin's biggest critic around for a long walk in the prison yard 50 miles north of the Arctic.
		Right?
		There's no coincidences.
		That was a shot across the bow of the Munich crowd, sir.
kash patel ▲ ● ▼		It's good to be with you, Steve.
		Look, when you imprison your political opponents and they die after you put them in the Polar North Wolf Complex, basically equivalent of imprisoning someone in Siberia, you're sending a clear message.
		It's ironic that the United States of America It's now imprisoning its political opponents and complaining about Vladimir Putin's actions when it comes to Navalny.
		Now, there's no excuse that legitimizes Navalny's death, but I'm sure his deteriorating health and the fact that he was poisoned in 2020 also led to his immediate decline while being imprisoned where the snow is, you know, 50 feet high and the temperatures are minus 20 on every day.
steve bannon ▲ ● ▼		Yeah, the KGB are gangsters.
		I mean, this is like a mafia run of the place.
		They're not good guys at all, just like the CCP are not good guys.
		In fact, we took our two best allies, the Russian people and the Chinese people, Lao-Beijing, and we kind of tossed them to the wolves.
		And this is what you get.
		Walk me through, though, you got Turner.
		I got to get to Turner because he had your boss's old job.
		What he tried to do to hype this, they're all about this Ukraine situation.
		They're obsessed with this money for Ukraine, and now they're going to come with every different kind of package, this package.
		And on the border, it's got like three things on the border.
		They're all optics, all fig leaves, trying to push it.
		What's the obsession?
		What's the obsession with Ukraine?
		Why is Turner hyping things?
		And should he be fired?
		Andy Biggs was on here yesterday, said he should be removed by Johnson immediately, sir.
kash patel ▲ ● ▼		Well, there's a couple of points to this.
		Yeah, look, it's my old committee, the House Intelligence Committee, and they have a duty to inform the public of intelligence threats that the administration is not executing on. And I don't know the intelligence because I'm not there anymore. So the one thing that the Biden administration should do if they're saying the threat has been neutralized and does not exist anymore, and it's not that quote unquote classified, is release the documentation. Also, Turner, as chairman of the Intelligence Committee, has it within himself under the law to declassify and release this information,
		which the American public now has risen to a point that justifies public dissemination, so we can take, as you hinted, appropriate action.
		Steve, I don't know what that appropriate action is yet, but I do know one thing about the Ukraine, as your audience knows well.
		They are backed by the defense industrial complex because they want more and more billions to be poured in over there because they own most of the people in Congress.
		And we need to know if this is tied to that.
		Based on past conduct, I understand the inference that this is the reasoning he made that statement.
		But what I want is the intelligence declassified that posed such a grave threat, but the White House is coming in and saying, not really.
		This White House, who I don't trust, You mentioned something at the beginning about what the KGB does in Russia and compared it to what the government gangsters are doing here against President Trump.
		this information if you, the White House, is in the right and you, the White House, is victorious in celebrating the defense of this country.
steve bannon ▲ ● ▼		You mentioned something at the beginning about what the KGB does in Russia and compared it to what the government gangsters are doing here against President Trump.
steve bannon ▲ ● ▼		Do you think that's a good analogy?
kash patel ▲ ● ▼		It's a reality.
		The Department of Justice here and the weaponized intelligence community, as we've been learning yet again about Russiagate this week and the political charges brought against Trump and Trump World Associates are exactly what is happening in Russia.
		And the hypocrisy is that these people like Kamala Harris and the left-wing media are complaining that Russia is imprisoning its political opponents when they see it happen every single day here in the United States of America, and they cheer it on because it serves their political agenda.
		It's almost as if the actions in Russia aren't an analogy to it.
		They are exactly what's happening here.
		Thankfully, no one's dying.
		That's the difference.
		And of course, Vladimir Putin has a stronghold on Russia, unlike Joe Biden in the United States of America.
steve bannon ▲ ● ▼		Talk to me.
		I want to go back to Taibbi and the situation with Trump's associates.
		Walk me through that.
kash patel ▲ ● ▼		Yeah, look, Steve, as we reported when Devin Nunes and I did the Russiagate investigation, Trump associates were targeted specifically by the intelligence community and law enforcement agencies.
		That reporting was expanded with this new media reporting this week from Taibbi and Schellenberger, and I'm glad everyone's talking about it.
		But what I want to remind everybody is it's not news that Hillary Clinton was the preferred candidate by the Russians.
		That is in our investigative report and findings from six years ago.
		And it's not news that the weaponized community of intelligence, the FBI, DOJ, the CIA, and NSA utilized it to target Trump associates.
		I'm glad the numbers are coming out, something we were bootstrapped in printing back then because of the classified information.
		And most importantly, we need to clarify and not conflate the binder in question.
		We produced a binder of documentation related to Russiagate materials at the end of the Trump presidency.
		Which Donald Trump declassified.
		He didn't- Yeah.
		Go ahead.
steve bannon ▲ ● ▼		Cash, hang on for one second.
		We've got about 10 seconds.
		I want to hold you to the break.
		Cash Patel joins us on the other side.
unidentified		We will fight till they're all gone.
		We rejoice when there is no more. Let's take a look.
		Here's your host, Stephen K. Bannon.
steve bannon ▲ ● ▼		Um, you know how we fire off the football so early?
		A couple things to do early in the morning.
		One of them is Warpath Coffee, the Dark Roast.
		You guys know this is my baby.
		Warpath.coffee.com.
		Go to War Room, the promo code.
		You've got to get the discounts.
		But this is the Dark Roast.
		This is my pride and joy.
		Mariner's Blend.
		We've taken the acid kind of taste out of the acid kickback in Dark Roast.
		I think you'll enjoy this, but they got every other rose too.
		Tej Gill and the team at Navy Seal.
		Just go there, immerse yourself in information.
		The site is great.
		The product offering is great.
		Warpath.coffee.com slash war room to get that discount.
		Kash Patel is actually going to speak at CPAC main stage Friday morning, I think around 930.
		Cash, I want you to finish.
		You're going to be back here a lot, obviously.
		Big announcements on Government Gangsters, also during CPAC.
		This is why you've got to go to cpac.org.
		Get the $95 ticket.
		Also go to warroom.org under events.
		Under events, the events tab.
		Hit it.
		You come and get a free lunch with us on Wednesday.
		For the Force Multiplier Academy.
		You're gonna love it.
		We get to hang out, you get to meet everybody, we talk about the plan going forward, and particularly how you can make CPAC a networking event for yourself and really come out of there with, you know, on offense.
		Cash, one more time.
		I just want to go, because this thing is, my Ataibi has broken the story and I realize people say, well, a lot of that's been out there.
		It has been, but it ain't a scoop until you treat it like a scoop.
		He's done a great job of reportage here.
		Talk to me about your thoughts about it.
kash patel ▲ ● ▼		A hundred percent.
		And look, Gina Haspel, government gangsters.
		We're going to get right back to this.
		Remember this binder that President Donald Trump declassified is sitting at the Department of Justice because NARA dropped it off and left it there.
		That's where it is.
		Separate and apart from that is, remember Brennan's ICA boondoggle intelligence rig job that was done in three weeks?
		Well, the Nunes team did the equivalent of the Nunes memo on Brennan's ICA.
		That 17-page document sits in a lockbox at CIA.
		Do you know who has blocked its release for four years?
		Gina Haspel.
		Why is her name so important?
		Gina Haspel was London station chief in 2016 when the Russiagate investigation was launched.
		Why is that important?
		Because when Brennan launched the intelligence community to target Donald Trump assets overseas and elsewhere, In the United Kingdom, Gina Haspel was the number one DNI rep, meaning she had to authorize any offensive operations for law enforcement on the IC on the ground, per the law.
		Gina Haspel helped launch Russiagate.
		Gina Haspel prevented the release of the Nunes version on the ICA report, where we put 2,000 man-hours on it, 17 pages, which we tried to declassify, and she blocked in the Trump administration.
		And do you know where Gina Haspel now works?
		As the National Security Advisor to Chris Wray's law firm, where Rod Rosenstein is a named partner, and so is Sally Yates.
		Do you think these government gangsters are just hanging out coincidence?
unidentified		No, stop.
unidentified		Stop.
steve bannon ▲ ● ▼		Stop.
		Hold it.
		Hold it.
		Wray's law firm, his old law firm, has Gina Haspel as the National Security Advisor.
		Who are the two other partners there?
kash patel ▲ ● ▼		Rod Rosenstein, who signed the fraudulent FISA warrant against the Trump campaign that was later rescinded as a result of our investigation, and Sally Yates, the former Attorney General that went after Donald Trump and weaponized justice.
		They are all working together, making tens of millions of dollars.
		The question is, why hasn't anyone called Gina Haspel to testify and get her documents?
steve bannon ▲ ● ▼		She's the one.
		Yates is the one who got Mike Flynn.
		She got Mike Flynn scalp.
		It was all Sally Yates.
		Okay Cash, where do we go to get all your touch points before we see you next week at CPAC?
kash patel ▲ ● ▼		Can't wait for CPAC 9.30am.
		Big announcement at the War Room.
		Be there in person.
		And then at Cash at KSH on Truth Social.
		I'll be fired away all weekend.
		And get the book, Government Gangsters.
		I'm telling you, you're going to want to read this thing and you're going to want to give 10 away to your friends.
		Bannon and I got a monster announcement coming.
		We are going to light the DC swamp on fire next week.
steve bannon ▲ ● ▼		On fire.
		Cash, but as only Cash can do.
		Cash, thank you so much.
kash patel ▲ ● ▼		Thanks, brother.
steve bannon ▲ ● ▼		Appreciate it.
		Appreciate you.
		Wow.
		Show's been on fire this morning.
		Second hour is going to be even more intense.
		We're going to ratchet up and we got Eli Crane and we got Byron Donalds.
		Byron Donalds, Jake Sherman's reporting, throwing down.
		I think he was going to start duking guys out yesterday in this conference saying, Hey, we're going to stop this madness.
		We're going to stop it now.
		Mike Lindell.
		Mike, are you still at Mar-a-Lago or are you back to reality?
mike lindell ▲ ● ▼		I'm here for another couple hours, Steve.
		And, uh, It's been a great week.
		I do want to bring something up, though, that our great real president is going to get behind.
		We're now in the middle of a big recall on Robin Voss, the horrible rhino in Wisconsin, and he told me he's going to get all behind this.
		If the War Room Posse, if anybody out there knows anybody in Racine County, Wisconsin, have them sign the petition.
		We need about 6,500 signatures.
		We're well on our way.
		Everybody's signing.
		Remember, he's got the lowest rating.
		I believe it's 10% rating of any politician in the country.
		One of the worst.
steve bannon ▲ ● ▼		Denver, if you can put that, I think we got that up.
		Just put it up for us if you got it.
		I think I just saw it.
		Right there.
		Go ahead and play it.
		Just put it up.
		Yeah, it's just a graphic.
		Just put it up.
		This is the Robin Voss recall.
		All the information.
		Grace and Mo, if you can put that out.
		And Carly over at Midnight Rider.
		And of course, our own Elizabeth at our Telegram.
		Just put it up and get it out.
		I want everybody, particularly in Racine County, Wisconsin.
		Mike, we'll drive this more today and obviously tomorrow.
		What do you got for us, particularly on the 800 number?
		You got something more special to announce?
mike lindell ▲ ● ▼		Yeah, this is the thing we have up here to put up now, too.
		You guys, to support my workers, the War Room Posse has been so amazing that we're going to do a call-in special.
		Any order you order today, you not only get free shipping, but you're going to get a free copy of my autographed book.
		I'll autograph it.
		And it's free.
		I'm heading back to Minnesota.
		I'm going to be autographing all.
		This is exclusive to the War Room Posse.
		Call-in orders only.
		And there it is.
		Free shipping on your entire order.
		Remember, we have all the MyPillow mattress toppers.
		We're running that free Real Presidents Day special on all of our mattress toppers.
		So now you take advantage of that.
		you'll get the free autographed copy of the book and free shipping on everything, everybody.
		You guys have been so awesome.
		We've got the, and the book too, if you order from mystore.com, I'm gonna give a free autographed copy there for the War Room Posse if you do a call in.
		There's the MyPillow 2.0, $29.98 for the queen size, $5 more for the king.
		That's now an exclusive War Room special.
		Most of these specials are not out there anywhere except for the War Room Posse.
		You guys have had our back.
		My employees are so grateful because I'm able to go out and do things like recall Robin Voss and get rid of these blockers in our country that block us at every turn to secure our election platforms.
		You can learn all about that at LyndalePlan.com also.
steve bannon ▲ ● ▼		Mike, if you just hang on, I want to talk to you about the real president in a second, because I know you spent a lot of time with him this week, and today's a very big day for President Trump.

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