April 17, 2024 - Bannon's War Room
48:55
Participants
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| Speaker | Time | Text |
|---|---|---|
| This is the primal scream of a dying regime. | ||
| Pray for our enemies. | ||
|
unidentified
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Because we're going medieval on these people. | |
| President Trump got a free shot at all these networks lying about the people. | ||
| The people have had a belly full of it. | ||
| I know you don't like hearing that. | ||
| I know you've tried to do everything in the world to stop that, but you're not going to stop it. | ||
| It's going to happen. | ||
| And where do people like that go to share the big lie? | ||
|
unidentified
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MAGA Media. | |
| I wish in my soul, I wish that any of these people had a conscience. | ||
|
unidentified
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Ask yourself, what is my task and what is my purpose? | |
| If that answer is to save my country, this country will be saved. | ||
|
unidentified
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War Room. Here's your host, Stephen K. Bamm. | |
| It's Wednesday, 17 April, in the year of our Lord, 2024. | ||
| Welcome back for the second hour of the morning show. | ||
| In the evening show, we're all going to talk to the Guardian this morning had a meltdown article about the constitutional sheriffs that are meeting in Las Vegas. | ||
| We're going to be there tomorrow. | ||
| In fact, go to Worm.org. | ||
| To make sure you get a last minute. | ||
| Now we're over capacity, but we're going to fit additional people in if you're not, but you've got to also sign up and then you got to answer Grace's email for RSVP. | ||
| We need to know exactly the headcount because you get a free lunch too. | ||
| How's that sound? | ||
| We're really looking forward to tomorrow and it's going to be we're going to try some different things. | ||
| Also gets you down into the weeds of on some of these battleground states of actually what you have to do to win. | ||
| Want to read something from the rest of the vote. | ||
| By the way, Gold, birchgold.com, I'm putting out the fifth installment. | ||
| I'm going to try to premiere it tomorrow. | ||
| To give you a taste of it, it's fantastic work. | ||
| I'm really proud of the team over at Birchgold that worked with us on this. | ||
| It's about the central bank digital currency and why in a time when you have these massive deficits and now you're having a tough time financing the deficit. | ||
| We told you this was going to happen. | ||
| The de-dollarization, people say the dollar's stronger than ever. | ||
| It's just relative to other currencies. | ||
| The world's tallest midget. | ||
| Look at it vis-a-vis commodities. | ||
| Look at it vis-a-vis other things of value. | ||
| Maybe not so much, right? | ||
| So you've got to understand that. | ||
| We'd give you the macro, and I think we do a pretty good job. | ||
| Birchgold gives you the micro and talks about all kind of instruments. | ||
| Birchgold.com slash bandit go and also sign up for the end of the Dollar Empire. | ||
| I hope if we can finish the graphics, we will actually publish it tomorrow. | ||
| So that's my intention. | ||
| Also go to warroom.org and sign up. | ||
| You got the daily command brief. | ||
| That's really amazing. | ||
| The team we've put together to do that is really quite amazing and it's fantastic the work that goes into this. | ||
| You get all this for free. | ||
| So go sign up. | ||
| Birchgold's free. | ||
| The command brief's free. | ||
| All of it. | ||
| We try to make all of our content. | ||
| In fact, we do make all of our content. | ||
| Free. | ||
| I want to read, of course the people are going crazy right now. | ||
| I want to read from Russ Vogt. | ||
| We had Russ on yesterday and he talked a little bit about this. | ||
| And if Denver could please put this tweet up in its entirety. | ||
| And Mo and Grace, I want to make sure we push this out. | ||
| This is from Vogt. | ||
| I can understand those who are baffled that conservatives are entertaining removing Mike Johnson from being Speaker in an election year with a small majority. | ||
| I haven't really weighed in because I understand the pros and cons, but those watching from the outside need to understand the magnitude of what Johnson is doing. | ||
| Funding Ukraine and acting as the third-party payer of that endless war has rightfully become a mini-Brexit for many of us. | ||
| The neocon foreign policy establishment is determined to keep us in this role of bill payer and imperial leader. | ||
| We want out yesterday. | ||
| It's killing and exhausting our country. | ||
| It's leading to more war internationally. | ||
| Mike Johnson made commitments not to fund Ukraine without securing the border. | ||
| I wish he had said regardless, but it was a tangible, reasonable approach. | ||
| He is now violating that promise because global elites like David Cameron, et cetera, and ruling class Republicans are in complete freak out. | ||
| And guess what? | ||
| He agrees with him. | ||
| He is a neocon. | ||
| That is what's happening. | ||
| So Mike Johnson is now touching the stove and may light himself on fire. | ||
| This is after being worse than an utter mediocrity when it comes to the spending fights. | ||
| Refusing to use the power of the purse and flipping his position on reforming FISA after a skiff brief. | ||
| I don't know what is going to happen and if he goes down I expect a complete meltdown from Conservative Inc. | ||
| But Mike Johnson will be responsible for his own demise for choosing to govern against the clear wishes of the vast majority of grassroots conservatives who are educated on the issues. | ||
| And that is no longer a survivable place to be for any GOP leader, and thank God for it. | ||
| Uh, War Room, you have done your, uh, Posse, you've done your job, at least for right now. | ||
| We're gonna, they've delayed, remember, last night we were gonna get the whole package where it was gonna happen. | ||
| He's, they've vapor locked and that package hasn't come out. | ||
| I think he's called another kitchen cabinet meeting for this afternoon, and probably gonna have to vote on this over the weekend. | ||
| But that's the reality of this. | ||
| That's the reality of where we are. | ||
| Now, Kevin McCarthy, I'll get to it. | ||
| Can I pull up this guy, this Facebook post that this guy is going to run against? | ||
| And I'll have more to say about this. | ||
| McCarthy's on this jihad against all the heroes that stood in the breach to remove him because of the spending deal and lying about it. | ||
| You've got another guy, Jack Smith, is that who his name is? | ||
| Jack something? | ||
| This is, you want to see a clown? | ||
| You want to, because everybody says, this is a clown. | ||
| This is a clown. | ||
| And you see the yellow part right there. | ||
| He is, he's announced yesterday with McCarthy's money. | ||
| McCarthy's money. | ||
| And McCarthy's guys backing it up. | ||
| I'm going to get their names and do it in the next segment or after Jim Rickards joins us. | ||
| This guy announced he's going to primary one of the great men in the House, a fighter, not just serve this country. | ||
| But also fought and has shown tremendous political courage. | ||
| That'd be Eli Crane. | ||
| This guy at the last second is going to file and he's got all this McCarthy money back. | ||
| He says, I'm a real conservative. | ||
| And he touts in there. | ||
| Oh, Eli, Eli Crane's voting for Democrats. | ||
| Eli Cain's. | ||
| This is a bald dude. | ||
| Back in the old days, that might work. | ||
| You're a clown. | ||
| And the people advising you are clowns. | ||
| So when you get your face ripped off, you turn to them and say, hey, you told me I could say this. | ||
| You're talking about he didn't vote for the minibuses and the joint kind of omnibus. | ||
| And yes, they had some crap in there about the board and stuff, but it was a joke. | ||
| You're actually saying supporting McCarthy's policies you want to do. | ||
| Hey, in the district that Eli Crane represents, that's about a 7%. | ||
| But we're going to have to take you as a lesson because McCarthy is on a vengeance tour. | ||
| Against Gates, and against Good, and Mace, and Biggs, and all of them, and Eli Crane particularly. | ||
| He's on the revenge tour. | ||
| It's not going to work. | ||
| You were the worst speaker in the history of the country, and how do I say that and give the empirical evidence? | ||
| Because you didn't even last nine months, or eight months, or a year. | ||
| You were gone. | ||
| You were humiliated, and you will be in the history books of being humiliated, McCarthy, and you're just going to have to live with it. | ||
| Because we're not going to allow your clowns, your political operatives, when they're so smart and say, yes, we need to, we can weaponize this against Eli. | ||
| No, you can't. | ||
| People in this district are among the smartest people in this country. | ||
| Common sense, hard work. | ||
| You got the War Room, you got Charlie Kirk, you got Jack Preserve. | ||
| You think you're going to run these games on us? | ||
| You think you want to assault the intelligence of the MAGA movement, brother? | ||
| Well, when you're curled up in the fetal position, having been destroyed politically, which you will be, you can turn around and blame it on McCarthy's handlers that came down and talked you into it and showed you the big money. | ||
| Man, we got big money in back of you right now. | ||
| We're going to go after Eli Crane. | ||
| You ain't going to go after anybody. | ||
| Eli Crane's one of the great heroes in this country. | ||
| He had the moral courage to stand in the breach. | ||
| At every vote. | ||
| We should be proud we have men. | ||
| Like Eli Crane that will serve in the imperial capital and represent their constituents in the imperial capital. | ||
| We're honored to have people like Eli Crane who will not back down from a fight and for you to use exactly what McCarthy and establishment cratered on and to try to turn that against him. | ||
| It shows you're an idiot, but you're also a tool of evil. | ||
| You are a tool of evil. | ||
| So when your political, the non-political career you had is destroyed and you're curled up in the fetal position, sucking your thumb, remember who put you up to do this. | ||
| McCarthy and this clique are evil. | ||
| They're a big part of the reason that we're here. | ||
| This just didn't happen. | ||
| It's called controlled opposition. | ||
| This just didn't happen. | ||
| The country just didn't get on the edge of this. | ||
| They've had a fight for the first time in years. | ||
| A real fight. | ||
| That's why you think Donald Trump's in a courtroom. | ||
| They're trying to destroy him. | ||
| They're trying to strip his business from him. | ||
| They're trying to erase all memory of Trump. | ||
| Because for the first time they've had a fight. | ||
| And here's the bad news for them. | ||
| We are, as the book says, the cover, we are, as President Trump says, we're going to finish what we started. | ||
| Because the only way we lose, and Stephen A. Smith knows this, the only way MAGA loses is if we quit. | ||
| And I know enough people in this movement that quit is not part of their DNA. | ||
| So we're not going to quit. | ||
| Are we going to win every fight? | ||
| No, we're not. | ||
| Are we going to get to the Sunlit Uplands in November if Trump wins? | ||
| No, we're not. | ||
| Is this some magic wand? | ||
| Is some fairy godmother going to come down here and put some magic dust on it? | ||
| It's all going to be better? | ||
| No, it's not. | ||
| We have a long, tough, nasty fight ahead of us. | ||
| Because it's taken decades and decades and decades to get in this situation. | ||
| And just like any human institution, it's not going to be turned around and it ain't going to be turned around tomorrow morning. | ||
| Just look at your country right now. | ||
| See what you see. | ||
| And see the collapse of these institutions. | ||
| Higher education, culture, the church, the military. | ||
| Congress, our political process, our courts. | ||
| Look around you. | ||
| Don't take it from me. | ||
| See what you see. | ||
| And then you tell me how we got here. | ||
| We got here because people were bought off and said, yeah, I'll just go the easy route. | ||
| I'll make my money and screw the country and screw future generations. | ||
| And most importantly, screw all those who came before us and bequeath to us The greatest country in mankind's history. | ||
| But we're not built like that. | ||
| The MAGA movement is not built like that. | ||
| And Charlie Sykes is right. | ||
| This is not going to stop and we will never stop. | ||
| And you saw Trump send a very powerful, that was a show of force yesterday in Harlem. | ||
| He's not going to back down. | ||
| And as long as he's not going to back down, we must have his back. | ||
| And you should be looking right now at the crickets of who's not backing him all in. | ||
| And I don't care if you call yourself a conservative. | ||
| You hate his guts. | ||
| You hate what he stands for. | ||
| You hate it all. | ||
| If you don't have his back, then you're part of the problem. | ||
| And I tell you what, sir, you got to get current in coming after Eli Crane. | ||
| The game's changed. | ||
| You can't put out nonsense like that anymore. | ||
| This audience is too sophisticated. | ||
| The folks in your district are too sophisticated. | ||
| They get it. | ||
| And one of the reasons they get it is we make sure that six days a week we provide a platform to give them information that is free men and women they can look at and come to the conclusion, hey, this ain't right. | ||
| And now I understand what they're running, the deal they're running. | ||
| You can never take down what you put up yesterday. | ||
| Real conservative. | ||
| Yeah, that's a real conservative. | ||
| You're voting for, you're saying you would vote for the destruction of this country, dude. | ||
| You may be too stupid to understand that. | ||
| But we're very willing to give you a tutorial over the next couple of weeks so that you understand it. | ||
| Because if we lose men like Eli Crane, we have lost this country. | ||
| Let me repeat that. | ||
| We lose men and women of the moral character of Eli Crane prepared to step forward. | ||
| And to serve their districts, and to serve this country, and to try to save this republic. | ||
| That is republic ending. | ||
| And we are not prepared to have that happen. | ||
| And it's going to get plenty nasty. | ||
| And these primaries are going to get plenty nasty. | ||
| On Capitol Hill, it's going to get plenty nasty. | ||
| In our confrontation with the Biden crime family, but that's okay. | ||
| If it has to be, it has to be. | ||
| That's just the way it is. | ||
| And we're prepared to accept that. | ||
| And we're prepared, more importantly, to own it, and to take responsibility for it, and to be held accountable for it. | ||
| Short commercial break. | ||
| Jim Rickards, I've got in Rome Ben Harnwell. | ||
| We have a lot to say that's going to connect back to these important votes of what's happening on Capitol Hill. | ||
| Short commercial break. | ||
| Back in the warming room. | ||
|
unidentified
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We rejoice when there's no more. Let's take down the C.C.B.! | |
| News your host, Stephen K. Bound. | ||
| you you Okay, thank you. | ||
| Welcome back. | ||
| I want to bring in Ben Harnwell. | ||
| Jim Rickards joins us, but I want to tee up, Jim, with a couple of news items, news breaks. | ||
| Daily Telegraph and New York Times. | ||
| Ben Harnwell from Rome. | ||
| Give me the speed of the two things that have broken here recently. | ||
| Morning, Steve. | ||
| Well, the first article here in the Daily Telegraph, I'll just give the headline. | ||
| Crude, cheap and deadly. | ||
| Russian glide bombs are pounding Ukraine into surrender. | ||
| I want to break this story down later after, Jim, but the point about this, the reason why I suggested this, this article for today's show, is that it's the first article, Steve, I've seen in, what, two years? | ||
| two months of this war that I have seen the word surrender tied directly to the Ukrainian state of war. | ||
| It's an interesting article, but I'll break it down later. | ||
| The other article here in the New York Times is in Ukraine's West draft dodgers run and swim to avoid the war. | ||
| It's an article which refers to, and I literally quote, an exodus of young Ukrainian men fleeing the country because they don't want to be drafted into war. | ||
| And it actually makes the parallel point that the worse the war is doing, the more they're trying to get out. | ||
| It also drops the interesting fact that the | ||
| Figures that these young poor young Ukrainian kids are spending to be guided by the people smugglers outside of the country has risen from $2,000 per person at the beginning of the war to $10,000 now and it's basically taken over the major means of smuggling that's gone from counterfeit cigarettes to young Ukrainian guys because of this war, but I'll break this down a little later in the show, Steve. | ||
| Yeah, just read that. | ||
| As we're up there talking about another $60 billion in an open money pit, read that headline again. | ||
| We said this was going to happen. | ||
| The key part is they can't get the 500,000 combat troops around the age of 27, right? | ||
| Because the average age is 42. | ||
| And they're getting pounded, right? | ||
| And they don't have enough men to fight because people do not want to volunteer in the levels they need to fight what they think is an unwinnable war and a stupid war. | ||
| Yes, and I'm not questioning the bravery and courage of the Ukrainian people. | ||
| It's been amazing. | ||
| It is their sociopathic leaders in Brussels. | ||
| By the way, in Brussels yesterday they tried to shut down the National Conservative Convention. | ||
| Brother Shahrab and Yoram Hazani and these people putting on... Nigel Farage was speaking. | ||
| They're gonna have Orban. | ||
| In Brussels, this is what they think of democracy and this is what they think of free speech. | ||
| They sent the police to shut it down in the middle of Nigel's talk. | ||
| They don't believe in free speech. | ||
| They believe in absolute total fascist control. | ||
| This is why they're not going to win in Ukraine. | ||
| They're just not. | ||
| And hey, it ain't Steve Bannon saying that. | ||
| It's the young, it's the parents of the young men who'll put the $10,000 up, get my son out of here. | ||
| Cause I don't want, he's my most precious asset or my children. | ||
| I don't want him thrown into the charnel house of, uh, of this war. | ||
| Now that was it. | ||
| Kharkiv is about to, uh, is about to fall. | ||
| The second biggest city, the second most important city. | ||
| Just read the headline again before I go to Jim Rickards, sir. | ||
| In Ukraine's west, draft dodgers run and swim to avoid war. | ||
| Unbelievable. | ||
| Hang on, Harn, we're going to come back to you. | ||
| Jim Rickards, your assessment, they're blaming MAGA | ||
| uh... for the uh... for the loss in ukraine that all it's us holding back the money is where the worst people in the world uh... they've they've put all the chips in the middle of the table mike johnson now hasn't put forward what the plans going to be uh... and i want all the warm posse to hold fire until we find a plan than if they're going to put it one rule it's kill the rule but he may be wavering even as we speak uh... records your one of the best geostrategic Well, that's exactly right, Steve. | ||
| in the world. Give me your assessment, sir. | ||
| Well, that's exactly right, Steve. | ||
| The important thing to understand in terms of this, you know, $61 billion for Ukraine that Mike Johnson is trying to shepherd through the House. | ||
| A couple things. | ||
| It doesn't matter. | ||
| It will not change the outcome. | ||
| The war's not over. | ||
| Ukraine is lost. | ||
| What's going on on the battlefront between Russian Ukraine and Eastern Ukraine? | ||
| You know, normal battlefront, you know, one side's moving, the other side's retreating, they're fighting back. | ||
| That is not what's going on. | ||
| What's going on is that Ukraine's forces are collapsing. | ||
| They're surrendering, in some cases, at the battalion level. | ||
| They're deserting. | ||
| They're just kind of running in a disorderly way, heading back to the Dnieper River. | ||
| They're getting annihilated in open fields from the air. | ||
| So this is a collapse. | ||
| This isn't, you know, Russia and Germany in 1942. | ||
| This is Russia and Germany in 1945, where it's just, you know, the war's not over, but you can see how it's going to end. | ||
| So the $61 billion will not matter in that sense. | ||
| Also, the other thing is there's nothing to buy. | ||
| People don't understand that. | ||
| If I say, hey, Steve, we're standing outside a store. | ||
| Here's a million dollars. | ||
| Go in and buy whatever you want. | ||
| And you walk in the store and the shelves are empty. | ||
| What good did that million dollars do you? | ||
| Because there's nothing to buy. | ||
| What does Ukraine need? | ||
| They need 155 millimeter artillery shells. | ||
| There aren't any. | ||
| There aren't any. | ||
| This is why the US sent them cluster bombs, which basically killed children. | ||
| because they play with them after the war. We don't have any 155s. Neither does the UK, neither do the NATO allies. Czechoslovakia, which is a major, or sorry, the Czech Republic, which is a major arms producer, they were authorized by NATO to go out and find some 155 millimeter shells from global arms dealers, usually we call them scumbags or dirty money, whatever. They can't find it. They came up with about 150,000 shells, a lot of them are probably duds. They need a million. They need a million a month to | ||
| keep going. They don't have them. | ||
| They're not available anywhere in the world at any price. | ||
| So Ukraine's done. So there's nothing to do with the $61 billion. So why are they doing it? Here's one of the dirty little secrets. | ||
| If they authorize it, it's not like they're going to write a $61 billion check to Ukraine. | ||
| They're going to ship Ukraine a bunch of used Bradley fighting vehicles from the 1980s, Abrams tanks that are left burning on the battlefield, Patriot missile systems, a billion dollars apiece, that cannot shoot down Russian hypersonic missiles, the Zircon and the Ishkal missiles. | ||
| It's all worthless stuff. | ||
| But it's basically like an army surplus. | ||
| We'll send that over and buy new stuff for ourselves. | ||
| This isn't an arms bill. | ||
| The whole thing is a fraud. | ||
| I call the Democrats the ruthless party, but I call the Republicans sometimes the stupid party because they fall into these Democratic traps. | ||
| So what the Democrats have done, they've laid a trap for the Republicans, and Mike Johnson's walking right into it, as follows. | ||
| If the Republicans somehow shoot this bill down, I don't think they will, but I mean, they're trying, but they shoot it down, the Ukraine will lose, and the Democrats will blame the Republicans. | ||
| They'll say, well, we would have won the war if only you had given us the $61 billion. | ||
| If they approve it, Ukraine is still going to lose the war. | ||
| As I described, it doesn't make any difference. | ||
| But they'll probably be able to keep it going for six months. | ||
| This is all about the election. | ||
| I mean, everyone knows Ukraine is lost. | ||
| That's obvious from the battlefield and the economics and a lot else. | ||
| But what, you know, Jake Sullivan, National Security Advisor, he's a campaign hack. | ||
| I mean, that's what he does. | ||
| He's a campaign hack. | ||
| They're trying to keep the war going till after the election. | ||
| So maybe, maybe Biden can win or at least not have another disaster on his watch. | ||
| So the Democrats win either way. | ||
| If you shoot it down. | ||
| Republicans get blamed for losing the war. | ||
| If you approve it, you kind of keep the war going until at least the election. | ||
| Maybe it helps Biden. | ||
| There is one way out for Johnson. | ||
| There's one thing he could do, which is, because he's allowed to just block anything from going to the floor. | ||
| He has that power. | ||
| So why not just say, OK, we're not voting on that. | ||
| We're just not doing it. | ||
| Well, again, that's where the Republicans get blamed. | ||
| For losing the war, even though it doesn't really matter. | ||
| But what he could do, he could put the bill forward with really, really powerful teeth in terms of the border. | ||
| And then say, OK, hey, we passed Ukraine money. | ||
| By the way, it's got these amendments that are going to secure the border. | ||
| Here you go, Democrats. | ||
| Here you go, Schumer. | ||
| You know, take it up. | ||
| You want money for Ukraine? | ||
| Here it is. | ||
| We just handed it to you. | ||
| Well, of course, the Democrats won't do that. | ||
| But at least the Republicans won't get blamed for not providing the money. | ||
| So the way out for Johnson is to Put the border provisions in the Ukraine bill, pass it, send it over to Schumer, and dare him to sign it. | ||
| You know these guys well. | ||
| I mean, you've been in this business for a long time. | ||
| What is the obsession with Brussels and Davos and the City of London and Wall Street and the globalist elites? | ||
| What is their obsession with Ukraine? | ||
| I mean, we have enough hotspots around the world, but there's something particular that the globalists along with the progressive left Well, there is a kind of mental illness, you're right, and there's an obsession, that's the right way to describe it. | ||
| there's something deeper here, there's something uglier here. What is your assessment? | ||
| Well, there is a kind of mental illness, you're right, and there's an obsession, that's the right way to describe it. | ||
| It's not about Ukraine, it's about Putin. Ukraine was always a way. | ||
| Now, again, you got to put yourself in the mind of, you know, Victoria Nuland, Fiona Hill, you know, etc. | ||
| All these, you know, the warmongers, the neocons, etc. | ||
| They're obsessed with Putin. | ||
| Now, their formative years, you know, we kind of all go back to our education or whatever, were the 1990s. | ||
| What was going on in the 1990s? | ||
| We had Boris Yeltsin, who was basically a drunk. | ||
| You had a total free-for-all. | ||
| They were nationalizing all, sorry, they were privatizing all the Russian industries. | ||
| Americans were rushing in, building a stock exchange, doing all this stuff, trying to make a lot of money. | ||
| Who ended that? | ||
| Who ended the gangster period when there were machine gun, you know, gunfights on the streets of Moscow and other cities? | ||
| Who ended it? | ||
| It was Putin. | ||
| He broke up the game. | ||
| He restored nationalism. | ||
| Russia has a very strong sense of naturalism. | ||
| His strongest ally, I mean, okay, the military, it's not the oligarchs. | ||
| He hates the oligarchs. | ||
| It's the Orthodox Church. | ||
| It's the patriarch of Moscow. | ||
| And that is in the soul and the guts of every Russians. So that's where Putin's support comes from. So he restored all those things, but he ended the game. He ended the money laundering, the ripoffs, the depleting Russian resources. | ||
| He ended that. They hate him. And so Ukraine was never more than a pawn to defeat Putin. | ||
| And remember the scenario. Go back to late 2021, early 2022, before the Russian special military operation. First of all, we provoked it. I understand Russia moved in, but we provoked it. | ||
| We spent, since 2008 provoking, plus the coup in 2014. | ||
| So we provoked the war. | ||
| We won the war. | ||
| We got the war. | ||
| Okay, nice job, Victoria Nuland. | ||
| But what they thought was Ukraine will bleed the Russian military machine dry. | ||
| We'll defeat them on the battlefield. | ||
| We'll use up the money. | ||
| The people will rise up and they'll get rid of Putin. | ||
| Completely wrong. | ||
| Jim, hang on one second. | ||
| Just stick around, do the break. | ||
| Strategic intelligence. | ||
| Go to Rickards. | ||
| That's with an S. Warroom.com. | ||
| All one word. | ||
| Get access to strategic intelligence. | ||
| Also, a discount. | ||
| Go to Strategic Intelligence. | ||
| You like this geopolitical thinking of our guest and contributor, Jim Rickards. | ||
| Short break. | ||
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break. Use your host Stephen K. Bamm. Okay, welcome back. | |
| Jim Rickards, you're not a gold I became acquainted with your thinking on currency war. | ||
| By the way, when you go to RickardsWarRoom.com, you get a free Currency War. | ||
| This book had a fundamental, fundamentally changed my thinking. | ||
| That's how important it is. | ||
| And Jim, I found out later, was a teacher or instructor at the But the Army War College teaches financial war, teaches economic warfare, which I've always argued we don't need trillion-dollar defense budgets if we act smartly. | ||
| And we can act smartly. | ||
| You're not a gold bug, but gold's at $2,405. | ||
| And I recommend everybody go to Birch Gold and check it out. | ||
| Talk to the team over there about this, because we don't give financial advice here. | ||
| But it's broken $2,400. | ||
| Jim, there's something weird happening. | ||
| Explain to us, we've got these massive deficits, the market's now saying there's a huge tremor inside behind closed doors that you can't sell all these securities, kind of yelling, and Powell has screwed this thing up from what we pointed out they did in early December. | ||
| People are kind of starting to panic. | ||
| The dollar is, you know, Visa Gold, it's outrageous what's happening. | ||
| Walk us through your assessment. | ||
| And remember, Rickards is not a gold bug. | ||
| He's not one of these gold guys. | ||
| Jim Rickards. | ||
| I do consider gold a monetary asset, but I'm not a gold bug. | ||
| I mean, there are issues with the gold standard, etc. | ||
| Well, a couple of things to you. | ||
| Number one, we're not going to have any difficulty selling Treasury securities, and here's why. | ||
| If China doesn't want them, and Brazil doesn't want them, and Saudi Arabia doesn't want them, they have quite a lot, by the way, one phone call to Jamie Dimon will take care of the problem. | ||
| It was the U.S. | ||
| banks will buy them. | ||
| And if they're told to, they will do it. | ||
| In the 1950s, U.S. | ||
| banks had maybe 40% of their assets in U.S. | ||
| treasuries. | ||
| Today, it's about 5 or 6%. | ||
| So there's plenty of headroom. | ||
| Now, that's not without consequences. | ||
| It could mean interest rates go up, it could mean there's less money available for commercial lending, and could impact the economy negatively. | ||
| But we will always be able to sell the Treasuries, and if Jamie Dimon and J.P. | ||
| Morgan don't want to buy them, the Fed will. | ||
| But hang on, but this is also how we got into the bailout of Silicon Valley banking guys, right? | ||
| I mean, if you buy these securities because the government's basically telling you it's securities, you're buying Biden bonds. | ||
| And you've got to sit through those Biden bonds. | ||
| And if things keep going up, this is what they're concerned about. | ||
| The regional banks right now with the real estate, and if you really look at their balance sheets, people are questioning. | ||
| You have it marked to market. | ||
| The stinking, festering sore of Biden bonds they have today. | ||
| If you do that, which by the way, you're absolutely correct, aren't we then, isn't that the way you paper over a crisis for the beginning, but you build up for a 2008 type meltdown, sir? | ||
| That's exactly right. | ||
| You can get, you can muddle through all this in a short run, but you're making bigger, creating bigger problems down the road, but the road keeps getting shorter. | ||
| We keep getting closer. | ||
| To the crack-up. | ||
| So yeah, the thing with Silicon Valley Bank, and you're exactly right, Steve, they had to market to market. | ||
| If you want to buy a treasury note, five-year treasury note, and interest rates go up, the value of the note goes down. | ||
| You lose money on that. | ||
| Well, if you don't have to account for that, if you can just hold it at the old value, you kind of paper over to cover it up. | ||
| But if you do have to account for it, then the loss shows up and your capital goes away. | ||
| That is what happened to Silicon Valley Bank. | ||
| They started to sell them, The minute you sell something, you've got to mark to market, and that's what took them down. | ||
| Guess who does not mark to market? The Federal Reserve. | ||
| So they can pile these things up if they have to. | ||
| So the issue isn't really selling the Treasury bonds. | ||
| It's what happens to interest rates and what happens to the exchange rate, the foreign exchange rate. And then people say, well, the dollar is stronger than ever. | ||
| Well, whenever anyone says that to me, I'll say, well, how do you know that? | ||
| What are you using to measure? | ||
| It usually stops the conversation because they don't know what they're talking about. | ||
| But, you know, someone more knowledgeable will say, well, you know, the euro is going down, which is true. | ||
| The yen is going down, which is true. | ||
| It's about the lowest since about 1990. | ||
| The Chinese yuan is going down again. | ||
| That's all true. | ||
| So if that's how you measure the dollar, use a basket, the dollar is getting stronger. | ||
| But all of those currencies, the dollar, the yen, the yuan, the euro, all of them are going down against gold. | ||
| Gold is the only legitimate measuring stick because it's the only one that's not a currency. | ||
| Gold is a monetary asset. | ||
| It's a store of value. | ||
| Everyone should have some in my view in your portfolio. | ||
| But it's not, you know, you can't walk down and buy a cup of coffee with a gold coin. | ||
| It's not very easily. | ||
| But my point being, it's the only measuring stick that's not itself a paper currency. | ||
| And that means it's the most valid. | ||
| What's going on to all the currency? | ||
| They're crashing. | ||
| They're collapsing. | ||
| Gold is up from about $1,850 an ounce to $2,400 an ounce in less than three months. | ||
| That's a 30% increase in gold. | ||
| Everyone says gold is going up. | ||
| The way I think about it, the dollar is crashing. | ||
| Gold is just gold. | ||
| It's atomic number 79. | ||
| It's a metal. | ||
| It just kind of sits there. | ||
| What's happening is the dollar is crashing. | ||
| When you measure it against gold. | ||
| So that's the yardstick. | ||
| Whether you buy gold or not, whether you like gold or not, that's up to you. | ||
| But if you want to know how the dollar is doing, compare it to gold and you'll see that the dollar is crashing. | ||
| Rickards, you've got all now the IMF, everybody's saying, and they actually had reports out saying, hey, even the good numbers on GDP and these numbers are all driven by this massive Keynesian, the Keynesian stimulus that Biden and these guys still do. | ||
| On Capitol Hill, we had good on yesterday. | ||
| They haven't even agreed to a top line number for the budget year that we've got to finish by September 30th, that top line. | ||
| But that top line is going to have another trillion to two trillion dollar deficit in it. | ||
| How unsustainable is this? | ||
| I think people now are starting to wake up that the war room, and Rickard's been talking about this for years, but it's catching a lot of people by surprise. | ||
| How unsustainable is the current trajectory we're on? | ||
| Well, it is unsustainable, but then the question is, how does it actually play out in terms of the real economy? | ||
| What are the effects that we see? | ||
| The best way to measure, Steve, people throw big numbers around, and they're big numbers. | ||
| We have $37 trillion in national debt, by the way. | ||
| A trillion is a thousand billions, or $37,000 billion is one way to think about it. | ||
| That's a big number. | ||
| Deficits are big, exactly as you described. | ||
| They're getting well over $2 trillion per year. | ||
| They'll be getting closer to $3 trillion. | ||
| So those are all big numbers. | ||
| The best way to understand it is to compare the amount of debt to the GDP. | ||
| GDP, this is the size of the U.S. | ||
| economy. | ||
| So there's a ratio. | ||
| The numerator is the amount of debt and the denominator is the GDP. | ||
| That number is about 132%, the highest in U.S. | ||
| history. | ||
| That's the number that should scare people. | ||
| By the way, Russia is about 17%. | ||
| They have a very sound economy. | ||
| But yeah, we're like over 130%. | ||
| So what's the effect of that? | ||
| In the end, you get hyperinflation, but not right away. | ||
| What you get is slow growth. | ||
| You end up like Japan. | ||
| Japan has been in a 30-year depression. | ||
| People look at technical recessions, but Japan has had nine technical recessions in the last 30 years. | ||
| But I think of it as just one long depression. | ||
| And that's what the U.S. | ||
| is going into. | ||
| Whatever happened to Ronald Reagan from 1983 to 1986, we had 16% real growth, not inflation, but real growth in three years. | ||
| Today, we can barely get to 2.5%. | ||
| People are applauding Biden. | ||
| Are you kidding? | ||
| That's ridiculous. | ||
| Why aren't we growing at 3% or 4%? | ||
| That's the effect of that much debt. | ||
| And so in the end, it'll be a catastrophe. | ||
| You're right. | ||
| But in the short run, you can kind of keep going. | ||
| But there's a very large cost, which is growth doesn't keep up. | ||
| Real wages do not keep up. | ||
| Income distribution gets worse. | ||
| And this is why not just in the middle class is practically gone. | ||
| You basically got a small elite of super wealthy and a large, obviously lower middle class to impoverished class in this country. | ||
| You're saying that the best case we can look at right now is, if it's not following the clip, the best case is what we call the lost decades of Japan. | ||
| You have many lost decades in front of us. | ||
| Do you believe that with the stagflation, these lost decades, do you think this is why young people, people under 35, are finally starting what I call the new Russian serfs? | ||
| Do you think that they're awakening now that it's like 50-50 Biden-Trump? | ||
| Even given all the propaganda, how the education system has twisted their ability to have critical thinking, do you believe that the serfs are starting to have an awakening, that they understand the lived experience of their own lives? | ||
| They're going to have lost decades ahead of them, sir? | ||
| Yeah, and if you're, you can be perfectly bright and well-educated, but if you're living in your parents' basement, you can't afford a down payment on a house, or if you can't afford the mortgage. | ||
| By the way, mortgage rates are almost back up to 8%. | ||
| They're over 7% right now. | ||
| They'd come down a little bit a few months ago, but they're back up where they were. | ||
| And that's the biggest driver of buying a house, by the way. | ||
| It's not so much the price of the house or the interest rate, it's the monthly payment. | ||
| That's how people think about it. | ||
| What's my monthly payment? | ||
| When interest rates go up, your monthly payment goes up, and that drives a lot of people out of the housing market. | ||
| So yeah, they know from their experience, hiring is dried up. | ||
| The unemployment rate is not skyrocketing. | ||
| The layoffs are coming along. | ||
| But what has hit a wall is new hiring. | ||
| Companies are not letting people off, but they've stopped hiring. | ||
| So if you're just getting out of college, or you've been out for years, or you're living in your parents' home, can't afford a new house, difficult to save, And you can't get a job. | ||
| And that's enough to make you look around and say, maybe there's somebody better than Biden out there. | ||
| Jim, how do people get to your thinking? | ||
| We're really proud to have you as a contributor, but we want to make sure people get access to your thinking. | ||
| Strategic intelligence is your opening newsletter. | ||
| There are other things too, but I want to make sure people can go and find out everything you're working on because I can tell from the audience chat and from people talk to me after the show, they love having you come on and give the big picture. | ||
| So where do they go? | ||
| Yeah, thanks Steve. | ||
| We have a landing page for the War Room Posse. | ||
| It's called RickardsWarRoom.com. | ||
| RickardsWarRoom.com. | ||
| You can subscribe to Strategic Intelligence. | ||
| You also, if you do, this is the only place you can get a free copy of Currency Wars. | ||
| That was my first book. | ||
| You know, when that book came out in 2011, Steve, one of the things I said is that we're not always in a currency war. | ||
| But when we are, it can go for 15 or 20 years. | ||
| Well, here we are, you know, 13 years later, we're still in the currency war. | ||
| Washington Post had a big editorial yesterday, yesterday, saying, you know, Trump's trying to start a currency war. | ||
| I mean, the reasoning was very muddled, but it's still a timely topic. | ||
| So RickardsWarRoom.com. | ||
| Jim, thank you so much for coming on. | ||
| We now hear that they may actually vote not until Saturday night, even Sunday, on these packages. | ||
| So we'd love to get on your calendar, maybe get you back early next week to talk about this firefight on Capitol Hill. | ||
|
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Great. | |
| I want to thank you, sir, for joining us today. | ||
| Thanks. | ||
| Jim Rickards over at Strategic Intelligence. | ||
| Make sure, just go check it out. | ||
| Rickards, that's with an S, warroom.com. | ||
| All one word, you get a free currency war. | ||
| Currency war was a big wake-up call for me. | ||
| It was, and of course, maybe we'll break down In the afternoon show, this piece in the Washington Post about currency wars. | ||
| Harnwell is going to join me at six. | ||
| I want to break down more Ukraine. | ||
| We'll have more updates on what's happening with this bill. | ||
| Also at six o'clock, I'm going to get the consular sheriff. | ||
| Mac is going to join us. | ||
| They're out at their conference today, the Constitutional Sheriffs. | ||
| Of course, The Guardian led with a article today in The Guardian, The Left-Wing Guardian, how the Constitutional Sheriffs are the worst, most unlawful people in the country. | ||
| I would beg to differ. | ||
| But we're going to have the great Sheriff Mack come on here and talk about it this afternoon. | ||
| Also, there's been a lot happening on transgenderism, a lot of positive developments along with some negative, but a lot of positive developments of Brandon Showaters. | ||
| We're going to take a short commercial break in a second. | ||
| So we got a lot going on, a big packed day of action, of things going on Capitol Hill, in commerce and in the capital markets, etc. | ||
| Okay, we're going to take a short commercial break in a second. | ||
| One thing I want to make sure, we had Josh Pettit from the McKinsey Institute on before our Masters, you know, we always talk about Dr. McKinsey before the Masters, and Josh He said, Hey Steve, you're always pitching Warpath Coffee. | ||
| The dark roast is actually the medium roast to have more caffeine in it. | ||
| Because of the way it's roasted, he's absolutely correct about that. | ||
| The medium roasts are fantastic. | ||
| The mild roasts are great. | ||
| The blends are great. | ||
| Tej Gill said yesterday, you don't even need cream and sugar if you have the milds because the acid's been taken out. | ||
| Mariners blends, mine, the dark roasts. | ||
| Go to warpath.coffee, warpath.coffee, slash war room. | ||
| Make sure you get a 15% discount. | ||
| So always put that in. | ||
| Also, I want to thank all the tremendous feedback we're getting on Sacred Human Health, the grass-fed beef livers. | ||
| Remember, the greatest concentration of nutrients known to man are in the animal kingdom. | ||
| the jolt of energy you'll get. Don't take it from me. Look at all the endorsements on there on the site. Sacred News, your host, Stephen K. Bamm. | ||
| Okay, I've moved hard and well to this evening. | ||
| We've also got the Constitutional Sheriffs this evening. | ||
| There's all kinds of things coming out now about how these bills are going to be bundled. | ||
| We'll get more into that on the 5 o'clock show. | ||
| We need to know how we're going to, whether they're going to kill the whole rule, how they're going to be bundled. | ||
| It's still, I'm a little unclear about this. | ||
| As soon as we get Clarence, as soon as we get guidance of how this is actually going to be done, we'll get back to the ramparts. | ||
| I can't describe enough the impact this audience has had, right? | ||
| People look to influence this audience. | ||
| People look to get to this audience. | ||
| This audience is a powerful force because You're the single biggest backers on a daily basis of President Trump. | ||
| And people know that. | ||
| And people also know that you do have your own independent mind. | ||
| Look, President Trump has given the support to Johnson. | ||
| I fully understand that, given what's going on. | ||
| We don't have to buy into that and we don't buy into that. | ||
| I think 99 percent of this audience doesn't. | ||
| And all of us were prepared to have an open mind about Speaker Johnson at the beginning. | ||
| Right at the beginning. | ||
| So he turned out not to be Megamike. | ||
| He is bought in. | ||
| And this is why I think it's so important of what Russ Vought said. | ||
| This is a Brexit-like moment. | ||
| We cannot continue on. | ||
| And you can't paper it over anymore. | ||
| There was one thing with President Reagan of taking on the Soviet Union. | ||
| And remember, most of the people in this town, Jamie Raskin's dad, all that, that were President Reagan's biggest enemies on taking down the Soviet Union are the people that are the biggest about taking down Putin. | ||
| What did Jim Rickards say? | ||
| And this is not coming from Steve Bannon. | ||
| Rickards says it's not the military. | ||
| It's not the oligarchs. | ||
| His biggest connection is the Orthodox Church. | ||
| Just saying. | ||
| Just saying. | ||
| Connect dots. | ||
| Just saying. | ||
| So, they understand that we're not going to back down. | ||
| We're not going to back down. | ||
| It's not just through talk, it's through action. | ||
| It's action every day. | ||
| It's one of the reasons we're doing the Force Multiplies, the reason I got the Constitutional Sheriffs on tonight. | ||
| It's the reason that we're going to do a two-hour with Mike Lindell tomorrow on the machines, everything about the machines. | ||
| Because even if you're not a machine person, if you think it was the mail-in ballots, which I do, the machines have got to go. | ||
| I mean, I've been adamant about this. | ||
| I don't understand. | ||
| And I've talked to the smartest guys in technology in the world. | ||
| And this is because of the work of Doherty and Lindell. | ||
| And these are the people Mike Lindell brought in. | ||
| And one of the reasons they're trying to bankrupt him is when you see actually the processes and you see the techniques, you sit there and go, well, hangovers. | ||
| This thing is a hundred times more complicated than it needs to be. | ||
| Why are we built in this complexity? | ||
| This should be the moral equivalent of the cash counting machines in Vegas, right? | ||
| This thing has got so many loose parts to it, it's shocking. | ||
| That's part of the things you're going to walk through tomorrow. | ||
| I think what Mike Lindell has done in the effort to get to paper ballots, game day voting, all that, which is still an aspirational Movement is, I think, to expose the American people. | ||
| Something's not right here. | ||
| Remember the American people got tremendous common sense, collectively. | ||
| Tremendous common sense. | ||
| It takes a while. | ||
| The reason it takes a while to get to the right decision is normally information is withheld from them. | ||
| When they get the full picture and they have that aha moment, their awakening, things happen. | ||
| That's what you're seeing right now. | ||
| Remember, People would say, Bannon, you're so destructive, it turns everything down. | ||
| I said, hey, Ecclesiastes, there's a time and place for everything. | ||
| There's a season. | ||
| For everything. | ||
| Now's the season to fight. | ||
| Now's the season. | ||
| We're not going to rebuild these institutions because they have not been purged of their corruption. | ||
| It's one of the greatest benefits Mike Lindell's had. | ||
| He's a great entrepreneur. | ||
| He's put his company on the line, his employees on the line, his personal welfare on the line, his personal safety on the line. | ||
| Hell, they try to roll him up at a Hardee's. | ||
| That's the Eli Cranes and the Mike Lindells is that this is you go back you study every revolutionary movement and the one you should study the most is the American Revolution because it is the most unique revolution in the history of mankind. | ||
| It's what started us out to really build the New Jerusalem was that revolutionary generation of what came before and what came after right before and right after the uniqueness of the American Revolution. | ||
| And people who could have benefited from being part of an empire. | ||
| This is the great thing about the revolution. | ||
| They would have been the ones that benefited the most. | ||
| They would have made bank. | ||
| Said, no, we're not going to do that. | ||
| Not going to put in a place that has a worthless landed aristocracy that calls the shots and gives monopolistic power. | ||
| Grants crown monopolistic power to people like the British East Indicum. | ||
| We're not going to do that. | ||
| And they were a collection of smugglers and freebooters and lawyers and land speculators. | ||
| Yes, they were not perfect individuals. | ||
| They were just as imperfect as Donald Trump's imperfect. | ||
| As all mankind's imperfect. | ||
| Mike Lindell's imperfect. | ||
| Steve Bannon's imperfect. | ||
| I'm maybe the most imperfect of all. | ||
| Although Lindell made me give me a run for my money. | ||
| Mike Lindell, we're going to be with you tomorrow. | ||
| Couldn't be more honored. | ||
| You're going to be out there today at the Constitutional Jurisdiction. | ||
| Give us, our audience loves you, knows you have it on the line. | ||
| But they love you most. I think it's a coin flip. They love you most when you're fighting for free elections and platforms that are free or giving them deals Maybe you want to focus on the deals because tomorrow we get two hours I think it's both and i'm uh I'm actually on the East Coast and I got a whole team of people flying, experts and lawyers, flying out to Vegas right now as we leave. | ||
| I'm in a conference room here. | ||
| But I wanted to get out here and get the War Room Posse, the best deals in history, and exclusive free shipping. | ||
| So go to that website, get my employees happy, get the employee-owned company on its feet, I'm going to be out there securing our election platforms. | ||
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| It's a win-win-win, everybody. | ||
| We'll see you tomorrow in Las Vegas. | ||
| Two hours going to be in Vegas. | ||
| Go to Worm.org. | ||
| You can still sign up. | ||
| Charlie Kirk is next. | ||
| Poso after that. | ||
| Miranda Khan and Tara Dahl. | ||
| Then you're back here in the War Room. | ||
| From 5 to 7 it's going to be wild. | ||
| I've got the Constitutional Sheriffs with me. | ||
| A lot going on Capitol Hill. | ||
| We will update you. | ||
| We will update you. | ||
| Kenan Abaddon takes you out. | ||
| Birchgold.com slash Abaddon. | ||
| Go check it out. | ||
| They goal it another all-time high. | ||
|
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