May 1, 2024 - Bannon's War Room
48:48
Participants
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| Speaker | Time | Text |
|---|---|---|
| This is the primal scream of a dying regime. | ||
| Pray for our enemies. | ||
|
unidentified
|
Because we're going medieval on these people. | |
| 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. | ||
| 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. Bannon. | |
| It's Wednesday, 1 May in the year of our Lord 2024. | ||
| That is May Day for the commies throughout the world. | ||
| And we've got a communist insurrection, a Marxist insurrection. | ||
| I don't like saying communist for the simple reason is that their economics was all wrong. | ||
| And that's why their leaders are the wealthiest people in the world. | ||
| When you had Mao Zedong, you've got the CCP in Beijing. | ||
| These are enormously wealthy. | ||
| They don't believe in the economic precepts of communism at all. | ||
| They believe in state capitalism, which they control in a dictatorial fashion and make themselves wealthy. | ||
| They do believe in the sociology of what we call Marxism, which is atheistic. | ||
| It's anti-traditional Judeo-Christian West. | ||
| It hates the traditional family. | ||
| It is pure barbarism. | ||
| And that's what we're seeing here in the United States. | ||
| A neo-Marxist, the worst of both worlds. | ||
| Sharia supremacism, which is not Islam. | ||
| Sharia supremacism combined with neo-Marxism. | ||
| And that's why you gotta go clear out the faculties. | ||
| You gotta clear out the administrations. | ||
| You heard in the opening, in the cold open, you heard the professor Who are they blaming it on? | ||
| This is all MAGA. | ||
| MAGA's trying to have a police state in the universities. | ||
| MAGA, this is the MAGA Republicans. | ||
| That's what they think. | ||
| So why should you go bail them out? | ||
| You gotta clear out the whole mess. | ||
| The whole rat's nest gotta be cleared out. | ||
| Gotta be cleared out. | ||
| All the progressives gotta be purged. | ||
| Forget tenure. | ||
| Purge the universities. | ||
| This is exactly how, Natalie Winters said the other day, she saw this at the University of Chicago, this is how Mao Exactly how Mao started the Cultural Revolution at the universities. | ||
| Remember, with these Marxists, Neo-Marxists and Jihadists, the issue is never the issue. | ||
| The issue is always the revolution, and that's what you're seeing today. | ||
| On the 30th front, we're facing Capitol Hill is going to be on fire, is going to have a motion to vacate the Speaker. | ||
| We're going to make a quite compelling case why he must go because he's a Democrat, or maybe even worse, a turncoat, traitorous Republican. | ||
| So if you vote for him, you own it. | ||
| But this 30 Front War, Mike Lindell joins us from around the front. | ||
| It's the Robin Voss recall up in Wisconsin. | ||
| Our beloved president is going to be in Wisconsin today. | ||
| He's going to be in Michigan. | ||
| Real America's Voice will be covering it. | ||
| We're going to stream it on all of our platforms and have commentary and hopefully we'll all jump into the chat. | ||
| Mike Lindell, where are you, sir? | ||
|
unidentified
|
sir. | |
| I'm gonna go. | ||
| Steve, they love the water room here in Wisconsin! | ||
| You guys love the water room, right? | ||
| Mike, as a great patriot out there, are we going to finally recall Robin Voss? | ||
| Are we going to get that done? | ||
| You guys think we're gonna recall Robin Boss? | ||
| That's sure that everybody I've talked to Steve that's what they want here in Wisconsin. | ||
| They want to free up Wisconsin to have free election, fair and free election. | ||
| So, and everybody's excited to see our great real president today. | ||
| We've got great things going on. | ||
| Everybody's optimistic. | ||
| One of the messages I'm going to give on stage today is we've got a perfect time in history, not just to get everybody to get out and vote, but to flip Democrats to Republicans to this new mega-bucket. | ||
| Because if you can't flip them now, eyes are getting open to the destruction of our country. | ||
| We get one shot at this, and we've got to Fantastic. | ||
| to vote for our great role president, not just all the Republicans and independents. | ||
| You should be able to win any argument now with your neighbors, with your relatives and say, hey, now do you see the light? | ||
| So we're very excited here in Wisconsin. | ||
|
unidentified
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Fantastic. | |
| We expect a big turnout today? | ||
| Yeah, as far as I can see, the people, it just doesn't end, Stephen. | ||
| And I don't know how many the building holds, but it's a very small building. | ||
| So I'm spending about two hours outside before the rally. | ||
| And after the rally, I'm going to spend the rest of the day here. | ||
| We're going to, on your show later on today, I want to still be out in this parking lot. | ||
| I'm going to stay until the last person's gone. | ||
| So I want to talk to each and every one of them, get everybody involved in securing our elections. | ||
| I know a lot of the stuff I have going on you can find at LyndalePlan.com. | ||
| We're going county by county in this country and trying to get as secure elections as we can get on our platform. | ||
| And I want to say, Steve, if I can, it's the War Room Policy that's made this all possible where I can be away from my factory because they got it to full capacity So once again, if I can, I'd like to gift them all. | ||
| They get a free MyPillow multi-pillow, multi-use 2.0. | ||
| It's absolutely free. | ||
| You can just pay shipping and handling to the War Room Posse. | ||
| They can go to the website. | ||
| They can use that promo code. | ||
| Y'all use promo code war room today, right? | ||
| They're all going to use promo code war room at the my pillow website today, Steve, and get that free multi-use my pillow 2.0. | ||
| I want everybody to try it. | ||
| Give it a try. | ||
| And then you get all the discounts you get. | ||
| There's your free MyPillow 2.0. | ||
| You get the towels. | ||
| You get all the new towels we're into, by the way. | ||
| Yesterday, we put our premium towels because we ran out of our other towels. | ||
| So the six-piece towel set. | ||
| Get them before they're gone. | ||
| They're going fast. | ||
| The War Room Posse got those put up yesterday, exclusive to them yesterday. | ||
| Slides and Sandals, all these $25 sales. | ||
| Everybody is excited, everybody. | ||
| So, you guys, promo code War Room! | ||
| Mike, Mike, tell the folks out there, we have to win Wisconsin for Trump to win the presidency. | ||
| Do they know that? | ||
| Do they know we must win Wisconsin? | ||
| You know we have to win Wisconsin and get our real president back in there. | ||
| And we're going to win Wisconsin, right? | ||
| And we're going to get, you're going to talk to your neighbors, your friends, your family, and get them to vote, whether they're, even if they're a Democrat, they should be voting for our real president. | ||
| Save our country. | ||
| We get one shot at this everybody and we're going to win Wisconsin. | ||
|
unidentified
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USA! | |
| Hey Mike, can they lead us, before we leave you guys, can they lead us in a trot, a trot, Trump, Trump, Trump, Trump... | ||
| You look at lower Manhattan yesterday with the diverse group of people supporting President Trump. | ||
| You look out in Wisconsin. | ||
| President Trump, I'm telling you, two-thirds of this nation happens to be MAGA. | ||
| Two-thirds of this country is MAGA. | ||
| And they understand that. | ||
| The power elite understands that. | ||
| That's why they always try to divide us. | ||
| It's always, they're always trying to divide us. | ||
| It's incredible. | ||
| Jim Rickards now joins us of Strategic Intelligence, his incredible newsletter. | ||
| Jim, we got currency wars, we got so much going on, but I gotta start because you're kind of the wise man of the show. | ||
| What's happening in Colombia, we just found out now that three and a half billion dollars tucked in at the last minute into the Ukraine bill. | ||
| was to go for exacerbating and accelerating mass migration from the Middle East, setting up offices in Qatar, setting up offices, I think, in Turkey and other places. | ||
| Just your sense of where we are. | ||
| You've seen what's happened in New York City. | ||
| You see what's happening in UCLA. | ||
| Give us your sense of where we are right now. | ||
| Well, the universities in Columbia, but, you know, just expanded to, you know, the whole Ivy League, you know, other top schools, Stanford, MIT, etc. | ||
| They are pretty far gone. | ||
| And what I mean by that is, in terms of, you distinguished earlier between kind of classic Marxian communism, or communism on the one hand, and Marxian theory on the other. | ||
| And in the 20th century, we had a number of neo-Marxist theorists, but I'm sure you're familiar with Antonio Gramsci. | ||
| He was an Italian. | ||
| He died at a fairly young age. | ||
| He was put in jail by Mussolini. | ||
| But while he was in jail, he wrote the prison diaries. | ||
| It's over a thousand pages. | ||
| I have a copy of it kind of right here at my desk. | ||
| And he was the inventor of the idea of the long march through the institutions. | ||
| And you said that Mao Zedong started the Red Guards and the Cultural Revolution through the universities, and he did. | ||
| But 50 years before that, Gramsci said, there's not going to be a bottom-up, you know, proletarian revolution against the bourgeoisie. | ||
| That was Marx's theory. | ||
| He's completely discarded that. | ||
| He said, what we're going to do, we're not going to attack from the outside. | ||
| We're going to attack from the inside. | ||
| We're going to get inside. | ||
| Universities, foundations, think tanks, corporations. | ||
| We don't have to tear down the entities, we just have to take them over from the inside. | ||
| Like termites, you know, if you want to use that metaphor. | ||
| Well, it's been very, very successful. | ||
| Now, kind of combine that, come forward to the 21st century with, you know, DEI and going back. | ||
| I opposed affirmative action in the 1970s. | ||
| I said, you know, when you have affirmative action, you're really diminishing the really talented Minorities are really talented, smart, uh, you know, African-Americans and Hispanics. | ||
| But once you lower the standards, you can't distinguish someone has a degree. | ||
| You can't distinguish between, you know, talent on the one hand and affirmative action on the other. | ||
| So it doesn't bring up the affirmative action candidates. | ||
| It actually drags down the real talent. | ||
| And that, Chris, that's been going on for a long time. | ||
| And now it's even worse with, um, with DEI, but the theory was. | ||
| You know, Harvard has a great brand, Yale has a great brand, Columbia Penn, you know, went to Penn and so forth, that they could take the brand, wrap it around low talent people, and somehow they would become future leaders. | ||
| Instead, the opposite has happened. | ||
| If you don't have the talent, you don't have the talent. | ||
| What they did, they diluted their brands. | ||
| And now you're saying, you know, manufacturers walking away, you know, Robert Kraft at Columbia said, you know, no, no Moss. | ||
| I'm not going to give you any more money. | ||
| So this is going on. | ||
| So they're getting hit at the benefactor level. | ||
| Hopefully Congress, not this year, but maybe next year, will look at these endowments, you know, $38 billion at Harvard that you can make, you can easily make five or six billion a year on that, maybe more tax free. | ||
| But why do they have a tax? | ||
| I pay taxes, you pay taxes. | ||
| Why are they tax free, et cetera? | ||
| And then the parents and the students are saying, why would I go there? | ||
| You know, you're just going to be indoctrinated if you're not already. | ||
| You're not going to get an education. | ||
| They're looking at top flight, State universities, you know, you go around a place like University of Nebraska, University of Colorado, etc. | ||
| These places have billion-dollar research budgets. | ||
| They're very good schools. | ||
| There are a lot of them throughout the country. | ||
| I just named a couple. | ||
| So they've destroyed their brand. | ||
| They've destroyed their credibility. | ||
| People are working away. | ||
| Benefactors are drying up. | ||
| But you still have that, you know, inside. | ||
| You've got exactly what you described, which are neo-Marxist ideologues. | ||
| So think about ideologues. | ||
| It's all about the ideology. | ||
| They're immune to reality. | ||
| They're immune to facts. | ||
| You can't have a normal debate with them. | ||
| Even if you have two sides on a debate, you can at least share facts and maybe find some middle ground. | ||
| They can't do that because it's all about the ideology, which is of course the idea, first and foremost. | ||
| And we're finding out that these demonstrations, you know, they're maybe half students, maybe not even. | ||
| They're outside agitators. | ||
| They're being paid for by NGOs and, you know, I won't blame Soros. | ||
| Well, Soros is a big factor, but we're learning that the Rockefeller family were behind it as well. | ||
| I thought Alan Dershowitz had a good idea last night. | ||
| He said, you know, the Justice Department will not do its job. | ||
| The NYPD, you know, for example, they did their job last night, but Alvin Bragg is going to let them all loose. | ||
| These people are basically, they get booked. | ||
| Once they get booked, they're under the jurisdiction of Alvin Bragg. | ||
| He's the Manhattan DA. | ||
| He's going to let them all go. | ||
| So you can't rely on that. | ||
| What you can do is sue them. | ||
| Just, you know, class actions, individual lawsuits, violations of the Civil Rights Act of 1964, you know, etc. | ||
| And get discovery, find out who's behind it, follow the money, and get billions of dollars of damages. | ||
| That's one way to push back. | ||
| Jim, can you hang on for a second? | ||
| We've got a lot of capital markets stuff to go through, and I want to keep you for a couple of segments. | ||
| Also, Carrie Lake is going to be joining us. | ||
| We've got a lot going on this afternoon. | ||
| We're going to have Eric Prince, Boris Epstein, Caroline Wren. | ||
| We're jammed throughout the day. | ||
| We are not going to take our eye off the ball of the motion to vacate, and quite frankly, This vast criminal conspiracy from the DOJ and the Justice Department. | ||
| It's quite obvious from Arizona to Michigan to Florida to Jack Smith in DC and then Alvin Bragg and his team up in New York City. | ||
| The evidence is quite frankly overwhelming and action has to be taken today and Mike Davis and Chairman Jordan, his committee, judiciaries working on it, Stefanik, Elise Stefanik just went on Fox and called for all the students on visas to be deported immediately. | ||
| So people are going on offense, and we have to ask the question, why is there not more offense? | ||
| Offense, offense, offense. | ||
| Short break, Jim Rickards next. | ||
|
unidentified
|
Here's your host, Stephen K. Batt. | |
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| I began to understand or came acquainted with the ideas of Jim Rickards years ago when a book called Currency Wars came out and I read it and although I had gone to HBS, they didn't really teach me this there and it was quite fascinating. | ||
| Jim, you're the author of the book. | ||
| In fact, if you go to Rickards.com or Rickards War Room, If you sign up for Strategic Intelligence, you get Currency War for free, and I recommend everybody read this book. | ||
| Now they're looking at the polls. | ||
| Trump's got momentum. | ||
| The lawfare looks like it's not working. | ||
| We're building momentum. | ||
| You see this big crowd we just had in Wisconsin, that great crowd we had yesterday in lower Manhattan. | ||
| They're getting nervous, and they're starting to pick apart. | ||
| What they can tell could be his economic plan. | ||
| And there's a lot of misunderstanding about it because people are not experts in currency and currency wars like you are. | ||
| So walk me through the time of his trade policies, you know, Time Magazine's got a cover story on his trade policies, what he's going to do in cutting taxes, the Trump tax cuts that revert, what he's going to do about that, what he's going to do about cutting federal spending. | ||
| Downsizing the government, deconstructing the administrative state, but they're sitting there going, oh my god, oh my god, Trump's gonna start a currency war, gonna destroy the dollar, as if they're not. | ||
| You have a very different opinion of this. | ||
| Can you take your time and walk us through it? | ||
| Sure. | ||
| The first thing, Steve, is I've seen articles about Trump's supposed currency war just in the last couple weeks. | ||
| Washington Post, Politico, Wall Street Journal, Yahoo Finance, and a couple other outlets. | ||
| When I see the same story coming from five places, I know they're working behind the scenes. | ||
| I know they sort of shared notes and said, OK, here's our theme of the week or theme of the day or whatever. | ||
| Let's attack Trump on the currency wars. | ||
| They all said the same thing that Trump is working on a secret plan to devalue the dollar, cheapen the dollar, restart the currency wars. | ||
| And then they'll tell you all the bad things about that. | ||
| And actually, there are some bad things. | ||
| It can import inflation. | ||
| It can invite retaliation. | ||
| I make the point in my book Currency Wars. | ||
| And elsewhere that in a real currency war, nobody wins. | ||
| Everybody loses and you can explain why. | ||
| So here they are saying Trump's starting a currency war. | ||
| It's going to be bad, you know, et cetera, et cetera. | ||
| But the fact, and we'll probably spend just one minute on what a currency war is. | ||
| Basically the idea is I'm going to cheapen my currency, make it cheaper relative to the euro or the yen. | ||
| And that's going to make my exports less expensive. | ||
| If I'm Peru or, you know, Argentina or any country, and I'm out to buy a passenger jet, I basically have two choices. | ||
| I got Boeing and Airbus. | ||
| And so if I, if the dollar is cheaper, the Boeing might be a little cheaper for me in terms of my currency. | ||
| So I'll buy the Boeing airplane. | ||
| We'll create export related jobs. | ||
| So that's the basic idea of a currency war. | ||
| Of course, from there, everything's kind of falls down, which is okay. | ||
| I do that, but then you come back and you cheapen your currency. | ||
| And then I shoot back and you shoot, and we just. | ||
| We're in a race to the bottom, and everyone's a lot worse off. | ||
| I make the point that when you're in a currency war, they can last 15 or 20 years. | ||
| Now, people say there's a new currency war. | ||
| No, this is the same currency war that started in 2010. | ||
| It was started by Obama. | ||
| It was started by Michael Lipton, who was one of his economic advisors. | ||
| It was coming out of the 2008-2009 financial crisis. | ||
| The global economy was flat on its back. | ||
| And what Obama said basically is, look, We're the United States. | ||
| We're the biggest economy. | ||
| If we go down, we take all of you with us. | ||
| So you have to give us a break. | ||
| You have to let us cheapen the dollar to get our economy going, and that'll spread around the world. | ||
| August 2011 was the all-time low for the dollar. | ||
| So it actually worked. | ||
| But then came all the pushback, and the euro in the coming years, the following years rather, went from $1.60 to $1.05. | ||
| They crashed the euro. | ||
| So that's kind of why currency wars take a very bad turn. | ||
| It's actually brilliant. | ||
| Trump's not trying to start a currency war. | ||
| Trump's trying to end a currency war. | ||
| He's trying to get back to some currency stability where we can all focus on productivity and invention and, you know, building our economies on a real foundation instead of, you know, kind of messing around with the exchange rates. | ||
| There's a model for this. | ||
| It was done by Ronald Reagan and James Baker, who was Secretary of Treasury at the time. | ||
| And I'll mention Robert Lighthizer, who was Reagan's U.S. | ||
| trade advisor, but Lighthizer was also Trump's U.S. | ||
| trade advisor for the whole term from 2017 to 2021. | ||
| So Lighthizer, you know, had a front row seat on this and he understands it perfectly. | ||
| What, what Baker did, what under, under Ronald Reagan, but what Baker did in 1985, the dollar was extremely strong. | ||
| You know, we had 1982 was a disastrous recession, but from there we got out of it. | ||
| Inflation came way down from 13% to 3%. | ||
| Everybody, the economy, U.S. | ||
| economy was booming. | ||
| Everybody wanted to get dollars, be in the United States for investment purposes, etc. | ||
| So the dollar actually hit an all-time high in 1985. | ||
| So finally, Baker and Reagan say, it's too strong. | ||
| But instead of doing a currency war, why don't we have an effective peace treaty? | ||
| Why don't we get together? | ||
| And Baker convened a meeting at the Plaza Hotel in New York. | ||
| And it was West Germany at the time, France, UK, U.S. | ||
| and Italy and Japan. | ||
| And they sat down and they said, okay, let's cheapen the dollar, but let's do it in a, in a way that we all agree in an orderly way where everyone's cooperating. | ||
| And then when we get it to a level, we'll lock it in and just kind of go forward from there. | ||
| They did. | ||
| And it worked. | ||
| And by 1987, everyone agreed. | ||
| Okay. | ||
| The dollar is about where it should be. | ||
| They had the Louvre record. | ||
| They went to, they went to Paris or something, but in Canada, uh, and they did this. | ||
| They said, basically that was the end of it. | ||
| Okay. | ||
| We have the parodies where we want. | ||
| The dollar came down. | ||
| We wanted that. | ||
| But now we're at a good level. | ||
| Let's lock it in. | ||
| And they did. | ||
| And we had 20 years of prosperity from 1980s. | ||
| Well, it really started earlier. | ||
| But after the Louisville Accord in 1987 until the financial crisis in 2008, nobody talked about currencies. | ||
| You worried about interest rates and other things. | ||
| But there was no currency war during that period. | ||
| So that wasn't the start of a currency war. | ||
| It was the end of an old currency war and a period of currency peace. | ||
| Guess what? That's what Trump's doing. And guess who his advisor is? It's Robert Lighthizer. | ||
| Now, the people at the Washington Post and the other outlets I mentioned, they don't understand what we just discussed with the war on poverty. They don't understand what Trump's trying to do is get to stability. The Washington Post writer said, Donald Trump is going to devalue the dollar. The president can't do that, not with a wave of a hand. | ||
| If you get the players together, you get important countries in the room, and they agree on a path, working together, you can do it. | ||
| But the president has no authority to value the dollar. | ||
| Besides, you can't do it anyway, because we're not on a gold standard. | ||
| I mean, there's nothing to devalue against, except, you know, like the euro. | ||
| But then, as I say, it's a back and forth currency war. | ||
| So Trump's got the right team. | ||
| He's got Robert Lighthizer, who is more better than anyone, more brilliant than anyone on what we're talking about now. | ||
| The model they're using is the Ronald Reagan-James Baker model from 1985 and 1987. | ||
| which kind of went into the early part of the H.W. Bush administration. | ||
| It's the Plaza Accord and the Louvre Accord. | ||
| It'll be agreed and it'll be orderly and it'll be good for the world. | ||
| It'll create jobs and create prosperity. | ||
| That's what Reagan did. That's what James Baker did. | ||
| And that's the model Trump's following. | ||
| But these accusations that he's reckless are just not true. | ||
|
unidentified
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Yeah. | |
| For these, for the, because we love to teach nomenclature, the audience loves that. | ||
| Just real quickly, go back. | ||
| The Plaza Accords, which are very famous in monetary terms, are kind of unknown to the basic voter. | ||
| Just explain again, what were the Plaza Accords, and how did it end a long-term currency war between the great powers? | ||
| Sure. | ||
| I mean, just to put it in context, the gold standard ended in 1971. | ||
| So August 15th, 1971, Richard Nixon said, Convertibility of us dollars into gold by our foreign trading partners. | ||
| I mean gold had been gold was contraband from 1933 under FDR Americans was like drugs machine gun. | ||
| You couldn't own it after 1933, but for foreign trading partners, we were still on a gold standard until 1971. | ||
| So from 71 to the early 80s, that was a currency war, you know, gold went up to $35 an ounce to $800 an ounce in January 1980. | ||
| I don't think of that as gold going up. | ||
| I think of that as a 95% collapse of the dollar. | ||
| Oil prices were soaring. | ||
| It was chaos in more ways than one. | ||
| So when you got to 1985, which was the Plaza Court, and that was just the Plaza Hotel, that's where they met, but they were the major economies in the world. | ||
| I mean, China wasn't really a player at all at the time, but West Germany, France, UK, Italy, Japan, and the US were. | ||
| So there was no gold standard. | ||
| They couldn't say, well, let's lock it into gold at a level. | ||
| There was no gold standard. | ||
| In fact, we had floating rate currencies, one of Milton Friedman's worst ideas, and we had chaos. | ||
| So what Baker said is, look, let's agree that among ourselves, since we collectively control all the currencies, let's agree on parities, meaning levels. | ||
| And if we agree and we stick to it, we can create currency stability even without a gold standard. | ||
| Just by working together. | ||
| So it was a, you know, maybe gold standard is better, but this was a cooperative arrangement. | ||
| Plaza hotel, Baker. | ||
| This is what Tim Geithner called convening power. | ||
| Meaning sometimes just being, if you're the one who can get people in a room, you have enormous power because you can work things out and come up with agreement. | ||
| They did, but, but what they, what they did and what Reagan wanted, he wanted the dollar to go down, but he didn't want a currency war. | ||
| He didn't want chaos. | ||
| He wanted it to be by agreement. | ||
| And orderly. | ||
| And so you had to have the second meeting, which was the Louvre Accord. | ||
| They met in Paris at the Louvre and basically said, okay, game over. | ||
| We got where we want it to be. | ||
| We did it the right way. | ||
| Now let's lock it in. | ||
| And you, and Steve, you had 20 years of growth, solid growth, low inflation, job creation, invention, Silicon Valley, dot-com revolution, everything that came along in the late eighties, the nineties and the early two thousands. | ||
| Was partly the result of what Baker did at the Plaza Court and the Louvre Court. | ||
| Jim, just hang on for a second. | ||
| I want to take a short break. | ||
| I know you've got to bounce, but I've got a question about the Chinese Communist Party, the CCP economy in China. | ||
| They seem to be hoarding gold and oil. | ||
| Are they preparing for devaluation? | ||
| Jim Rickards, Currency War. | ||
| Go to RickardsWarRoom.com. | ||
| Sign up for strategic intelligence. | ||
| They throw in a volume, a copy of Currency War for free. | ||
| Short break. | ||
| Carrie Lake, Jim Rickards, next. | ||
|
unidentified
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Here's your host, Stephen K. Bowne. | |
| Okay, welcome back. | ||
| So, Jim, all these articles came out, and you're absolutely correct. | ||
| This is called Signal Not Noise, and this is why we love having the smartest people in the world on this show, to give access to our working-class and middle-class audience. | ||
| You're getting the C-suite brief. | ||
| When you see a clutch of articles around Trump's currency policies, and they're in the Wall Street Journal and the Washington Post, and you've got Jeff Stein over there, you've got all these guys talk to each other, something's up, right? | ||
| But once these came out, Jim, you and I talked about this, I think it was yesterday, I'm seeing zero hedge in a bunch of places, how China's so buying gold and oil and other natural resources, people think there's a stockpiling going on. | ||
| And is that in preparation for China also entering into and maybe exacerbating our currency war? | ||
| We know that they're the leader of the de-dollarization effort. | ||
| I mean, your thoughts on that? | ||
| How should we be smart when we look at that? | ||
| Well, that's exactly right. | ||
| The gold story, you go back to 2009, not all that long ago, China had about 600 metric tons. | ||
| Today, they have over 3,000 metric tons that they admit. | ||
| The odds are very good that they have a lot more than that off the books. | ||
| They have something called the State Administration of Foreign Exchange, which is not the central bank, the People's Bank of China. | ||
| That's different. | ||
| So People's Bank of China says, yeah, we got 3,000 tons. | ||
| Over in SAFE, State Administration of Foreign Exchange, Unknown, but perhaps as many as much as another two or 3000 tons. | ||
| So they're catching up to the US. | ||
| US is a leader. | ||
| We're at 8000 tons, although we've been stuck there since since 1980. | ||
| So they're definitely by the way, there's not going to be like a Chinese gold back currency and forget that they don't have enough gold for that. | ||
| But just the idea is a way to preserve wealth as a way to avoid sanctions. | ||
| As a way to avoid what's going on in Russia, where the U.S. | ||
| is preparing to steal the Russian assets because their digital treasury securities are actually pretty easy to steal if you want. | ||
| You can't steal physical gold without invading the country. | ||
| We're not going to do that. | ||
| So that's one thing China's doing. | ||
| The oil, same thing. | ||
| Gold and oil are too tangible. | ||
| They're not digital. | ||
| You can't seize them. | ||
| You can't freeze them very easily unless you want to be a pirate. | ||
| But that's the other way to do it. | ||
| Now, what China is doing, China has a strategic oil A strategic petroleum reserve. | ||
| The United States has a strategic petroleum reserve. | ||
| Theirs is about 400 million barrels. | ||
| Ours is about 700 million barrels in round numbers. | ||
| So our reserve is bigger than their reserve. | ||
| But in each case, if it's full, it lets you go about six months without importing any oil. | ||
| If you're, if you're embargoed, we close the Straits of Malacca. | ||
| Somebody closes the Straits of Hormuz. | ||
| You know, China's cut off from oil with 400 million barrels. | ||
| They can last about six months. | ||
| Our economy is bigger, so we need a bigger reserve. | ||
| But here's what's interesting. | ||
| No one knows the exact amount in China, but estimates are that somewhere between 280 million and full at 400 million barrels. | ||
| And if it's less than 400 million, they're very actively filling it up, number one. | ||
| Number two, they're getting the oil from Russia. | ||
| You know, Europe made a big deal. | ||
| We're not going to buy any more Russian oil. | ||
| They still do, by the way, but we're going to strangle Russia because they can't export oil. | ||
| Russia just said, fine, we'll ship it to China. | ||
| They're making just as much money. | ||
| It hasn't stopped. | ||
| And China has another source. | ||
| Russia has just surpassed Saudi Arabia as the biggest source of Chinese oil. | ||
| Saudi is still a big one, but they're getting it from Russia. | ||
| So they're helping Russia by paying hard currency for the oil. | ||
| But here's the thing to compare to the United States. | ||
| The U.S. | ||
| Strategic Petroleum Reserve holds 700 million barrels. | ||
| Biden drained it. | ||
| He drained it in 2022 down to about 350 million barrels. | ||
| And you say, well, gee, isn't it half full? | ||
| The answer is no, just because, you know, from an engineering point of view, these are underground salt domes. | ||
| They have some reinforcement, but if you take it below a certain level, they actually collapse. | ||
| So you can't, you can't drain it. | ||
| It's not like running on empty in your car, you know, you can't get a below maybe 250 million barrels, but we're, we're very close to the lowest level it can be. | ||
| We're nowhere near the 700 million barrels, which it was not that long ago. | ||
| Biden did this to lower the price of gasoline at the pump during the 2022 midterm elections. | ||
|
unidentified
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That's not the reason for it. | |
| It's not there to manipulate prices. | ||
| It's there to protect the United States of America in the event we're shut off from oil for six months. | ||
| That's why it's there. | ||
| Biden uses a campaign tactic to lower gas prices. | ||
| And President Trump knew that. | ||
| That's why he never touched it. | ||
| Jim, this currency is fascinating, particularly President Trump's plan. | ||
| RickardsWarRoom.com is where you get access to strategic intelligence. | ||
| If you sign up, you get a free copy of Currency Wars. | ||
| Everybody should read it. | ||
| Jim, thank you so much. | ||
| And thank you for being such a contributor here to the show. | ||
| People actually love your hits. | ||
| So really, really thank you for coming in today. | ||
| Thanks, Steve. | ||
| President Trump's economic plan, they're trying to pick it apart. | ||
| Not just pick it apart, they're trying to stop him. | ||
| They're putting stuff in bills to handcuff him on NATO, handcuff him on the sanctions, as Jim and I talked about last week, all of it. | ||
| Kerry Lake now joins us. | ||
| Kerry, another thing, this Ukraine bill has now come to light. | ||
| Through reporting over at Breitbart and Ms. | ||
| Mahoney at Undercover DC and others, going through this bill, that $3.5 billion went to these offices overseas, and particularly in the Middle East, to exacerbate mass migration here in the United States. | ||
| You see what's happening on the college campuses. | ||
| You've been all up and down the border. | ||
| That's one of your biggest issues. | ||
| You see what the NGOs are doing. | ||
| You see what the State Department's doing in Central America. | ||
| What say you? | ||
| You're running for the Senate and you're running against really one of the most, if not the most, radical guy in the House. | ||
| Clearly the most radical person ever to run for the Senate when it comes to open borders. | ||
| What say you, ma'am? | ||
| Well, I mean, I guess I'm not shocked. | ||
| Nothing shocks me anymore, Steve. | ||
| And when I first was running for governor and doing all sorts of tours and seeing all of the illegal activity at the border, you know, it dawned on me way back then, a couple years ago, that the government was controlling this whole thing. | ||
| The U.S. government was part and parcel to this problem at the border. | ||
| Then fast forward, we find out Joe Biden is doing all of these, you know, secret plane trips from other countries and making people skip right over the border and just flying him directly into the U.S. | ||
| And now this $3.5 billion to bring more people in illegally, this is out of control. | ||
| We are losing our country. | ||
| It's the end of Western civilization if this doesn't stop. | ||
| This is about changing the demographics permanently in America and really icing out lower class citizens and middle class, if there's anything left of the middle class. | ||
| That's who's going to struggle the most with this as we watch 12 million, 15 million people here illegally taking the jobs, taking the housing, taking the services from the American citizen. | ||
| And this is why we're going to see a huge red wave on November 5th to stop this nonsense. | ||
| They are in a complete panic. | ||
| They know they can't win because their policies are absolute destructive, deadly policies, and they're going to have to ship a bunch of people in and try to get them to vote for the Democrats. | ||
| Look, the replacement theory is not about any race. | ||
| This is the African-Americans are getting crushed because they're bringing in cheaper labor. | ||
| The Hispanic citizens are getting crushed because of this. | ||
| This is putting citizens last. | ||
| Tell me about your opponent, Gallego. | ||
| Here's what's so shocking. | ||
| In a year where immigration is like, and this invasion is the number one issue, And we'll not go away, and President Trump reiterated that today in one of his two social posts. | ||
| You've got the most radical person running to represent Arizona. | ||
| How does that work? | ||
| He makes people like AOC—actually, he's more radical than AOC, just put it that way. | ||
| He is more radical than Bernie Sanders. | ||
| He is the most radical Democrat in the House, probably a Democrat most people haven't heard of. | ||
| He was part of the Progressive Caucus, and now that he's running for Senate, he's kind of backpedaling away from that. | ||
| He called the border wall a stupid, dumb border wall, said he would never, ever, ever allow for it to be built. | ||
| This is a guy who hates the citizens of this country. | ||
| He hates us if he's not willing to take border security seriously. | ||
| And now he's gonna act like he cares about the border. | ||
| We've seen his voting record. | ||
| He is 100% in lockstep with Joe Biden. | ||
| If you love Joe Biden, if you love open borders, high crime, An economy that's in the toilet, World War III, then you're really going to love Ruben Gallego because he's Joe Biden, but about 40 years younger. | ||
| So this is a dangerous guy. | ||
| We have to get him out of D.C., send him packing and make sure we never allow him to hold public office because he's a dangerous guy, frankly dangerous. | ||
| And his voting record is 100 percent voting with the Biden agenda, which has been destroying this country and will continue to do so. | ||
| You wouldn't know that from his ad campaign. | ||
| I think it's one thing that's interesting is that he's bombarded Arizona cable TV. | ||
| He's bombarded the news shows. | ||
| He's bombarded the ESPN and the Golf Channel. | ||
| He's had a huge buy, yet his numbers have not moved. | ||
| That's always a bad sign. | ||
|
unidentified
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But when you look at his ads, you don't see any of that. | |
| You think this guy's Audie Murphy? | ||
| Yeah, like a combat marine and a great guy, and a family man. | ||
| Well, we know the truth about what kind of a guy he is. | ||
| Walking out on his wife, his pregnant wife, days before she gave birth to his firstborn. | ||
| Walked out on her, took off, ran off with a D.C. | ||
| lobbyist. | ||
| And so he's trying to reinvent himself, but he knows it's not working. | ||
| That's why they're in a panic. | ||
| They're running hit pieces on me, trying to take away from the fact that this multi-million dollar ad buy, trying to reinvent Ruben Gallego has not worked. | ||
| He hasn't bumped up in the polls. | ||
| He's taken a hit in the polls, actually, and it's not working. | ||
| You cannot take someone like that and try to reinvent them into Mr. Good Guy when everything they've done has been America last, voting America last, for the 10 years he's been in Washington, D.C. | ||
| Steve, his district has the fastest growing homeless population in the entire country, which probably means in the world if you think about it. | ||
| And that's what he wants. | ||
| That's his vision for the rest of this state of Arizona. | ||
| He's open borders. | ||
| He wants everyone who's coming in illegally to be given asylum and the right to vote. | ||
| This will be the end of America and people are on to him. | ||
| His ads aren't working. | ||
| He can carpet bomb the airwaves and try to make himself look like a moderate. | ||
| He is as radical as they come and the people of Arizona are waking up to the fact. | ||
| Because the folks in Arizona understand that they're at the tip, they're at the cutting edge of these global issues. | ||
| This mass migration, this invasion on the southern border, I mean, they're bearing the brunt of it every day. | ||
| And these are Hispanic citizens. | ||
| I mean, when you went to the border, tell me, what are the constituents in Arizona? | ||
| Because he's doing something to promote himself and kind of almost like a lifestyle. | ||
| Right? | ||
| But not address the issues. | ||
| But when you got to talk about the issues, this guy is so radical. | ||
| What have the citizens in Arizona told you as you've gone around to visit about this topic of this illegal alien invasion? | ||
| Well, you know, it's not just affecting border communities, it's affecting the whole state. | ||
| And we know that now it's affecting all 50 states. | ||
| Every state, you've heard the phrase, every state is a border state. | ||
| And the fastest way to stop this is to immediately go back to the President Trump policies, which is basically finish the border wall, no more catch and release, remain in Mexico. | ||
| But we don't have a president who will do that. | ||
| And the people are just fed up. | ||
| They're fit to be tied about this. | ||
| They're watching as hundreds of people are released every day onto the streets of Nogales, of Tucson, a city that used to be a great city. | ||
| Tucson is now struggling with the street releases. | ||
| They've got a homeless crisis down there. | ||
| And the economy is hitting the skids so badly that people who once had extra money to occasionally go out to dinner and maybe enjoy an evening out are tightening things up and saying, we don't even have the ability to do that anymore. | ||
| It's only going to get worse until November 5th. | ||
| And the people recognize that it was Ruben Gallego and Joe Biden who created this mess in Arizona, and they're not going to elect him for the U.S. | ||
| Senate. | ||
| This is a guy, as we're watching what's happening on our college campuses, Steve, we're watching as these protesters, who don't even frankly know what they're protesting, are wreaking havoc on college campuses all over the country, including here in Arizona. | ||
| And our police are outnumbered. | ||
| And you got Ruben Gallego who actually marched in these defund the police rallies. | ||
| This is disqualifying, in my opinion. | ||
| If you want to defund the police, you need to go and step out of the race. | ||
| That is an absolute Disqualifier for U.S. | ||
| Senate. | ||
| We need to support our police. | ||
| We need more police right now. | ||
| Fully funded police departments. | ||
| Because things are very unsafe on the streets of Phoenix, Tucson, even smaller communities are dealing with a surge in crime. | ||
| And the people are just fit to be tied. | ||
| They wish that it was November 5th right now so they could vote these fools out of office and get somebody who's competent like President Trump and myself for U.S. | ||
| Senate. | ||
| Carrie, can you hang on for a second? | ||
| I just want to hold you through a short commercial break. | ||
| Carrie Lake is with us. | ||
| We're going to take a short commercial break. | ||
| SacredHumanHealth.com. | ||
| Go check out the support we have from the audience. | ||
|
unidentified
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Here's your host, Stephen K. Bound. | |
| Okay, welcome back. | ||
| You just heard Jim Rickards tell us that the Chinese Communist Party had upped it and now own a minimum of 3,000 metric tons of gold, probably a lot more off the books. | ||
| And the reason is times of turbulence. | ||
| So the central banks of the BRICS nation, which are leading the de-dollarization effort, Know something that maybe the Federal Reserve doesn't know, because the Federal Reserve is doing two things right now. | ||
| They're just printing money to paper over these massive deficits, driving up inflation, and of course they're working on the central bank digital currency. | ||
| We cover all of this in The End of the Dollar Empire. | ||
| It's all yours for free. | ||
| The fifth installment, The Central Bank Digital Currency, The End of Economic Freedom and Security, is up now. | ||
| Get that? | ||
| But we've got four other installments, including the fourth installment Is what Jim Ricketts talked about about going off the gold standard in 1971, President Nixon and his team of internationalists, I might add, that threw us into, what, 15 or 16 years of currency chaos before President Reagan was able to sort things out. | ||
| So make sure you go check it all out. | ||
| It's totally free. | ||
| It gets you up to speed, gets you a better understanding of hedges against times of turbulence, which precious metals have been for like 8,000 years. | ||
| Birchgold.com slash Bannon. | ||
| Make sure you go check it out. | ||
| They're all free. | ||
| Carrie Lake. | ||
| You see the chaos in the book, chaos and angry that Biden are driving every day. | ||
| They can't, the polling is just insane, you know, with CNN, the crosstabs, I tell people, you look at these crosstabs, the coalition they had is collapsing, young people running away, African-Americans running away, Hispanics running away, Asian-Americans, demographics all abandoning it because the lived experience of people, but that doesn't mean they don't, they're not They don't have things that they're going to do. | ||
| Two things they're going to do. | ||
| Number one is lawfare. | ||
| You see this in the vast criminal conspiracy against President Trump, and this is one of my biggest bones to pick with Speaker Johnson. | ||
| He fully funded the DOJ and the FBI, and he knew what was going on. | ||
| The 300-page report was already either finished or nearly finished. | ||
| What Stefanik was working on was finished. | ||
| What Julie Kelly's been bringing up about the entrapment on the classified doc, all up. | ||
| But it doesn't mean they're going to stop there. | ||
| And quite frankly, Soros is doubling and tripling down. | ||
| And you can see that more than anything in Arizona, where a phony AG that's up by 208 points and won't count 9,000 ballots that would put Abe Hamadei as attorney general indicts 17 people. | ||
| Soros is coming for Trump, for you, for everybody with all his resources. | ||
| It's all over. | ||
| I mean, look at the migration problem. | ||
| We know Soros is behind some of that. | ||
| We see the campus rioting that's going on. | ||
| We find out Soros is behind that. | ||
| We find out the Soros connection to places like Protect Democracy Project. | ||
| That is that group of, that liberal group of attorneys that are closely associated with, not just linked to Obama and Soros. | ||
| They're going after people like Rudy Giuliani, the Gateway Pundit. | ||
| They're going after me in my case. | ||
| I call it a censorship case, the one that Stephen Richer filed. | ||
| And they're going after President Trump. | ||
| We've got Soros and his tentacles are all over the media. | ||
| We know how Media Matters sets the agenda for the liberal media to go after certain individuals. | ||
| And we're seeing it. | ||
| It's going to continue to happen, Steve. | ||
| We know the next six, seven months. | ||
| are going to be the most intense in the history of this country. | ||
| And we've got to buckle up, because they're going to go after everyone. | ||
| President Trump took the hits for so long, an eight-year smear campaign. | ||
| Anybody they are attacking in the media is the people you should be supporting. I've always said that, and I mean it now more than ever. They're going after the fighters in our movement. | ||
| They're trying to tear apart MAGA, get each of us shooting at each other, and we're just not going to let it happen. This is that moment. This is the final moments of this kind of war that we're actually in. | ||
| And we have to take it to November 5th and take back this country. | ||
| And they want us aiming at each other, shooting at each other, firing at each other. | ||
| We're not going to do that. | ||
| We're not going to let this Soros machine tear MAGA apart. | ||
| This is an America First movement. | ||
| We will take our country back. | ||
| And if we can stay connected and coalesced in the next six, seven months and go into November 5th with a very strong America First party, we will indeed take this country back. | ||
| And our finest days are ahead of us. | ||
| If you look at the math and you hold the seats we have, then Montana and Arizona would give us the Senate. | ||
| Right now, Jon Tester is basically taking Biden and just throwing it overboard because he understands that Montana, he's got no shot by standing by that agenda. | ||
| He's literally throwing it overboard and trying to, like crazy, denounce Biden and try to run as a moderate. | ||
| In Arizona, this is probably the biggest contrast in the country. | ||
| There is no more radical in the house, in a radical house, than Ruben Gallego. | ||
| And now Ruben Gallego would be the most radical senator I think the United States Senate ever had, versus Carrie Lake. | ||
| And to me, that every day, that compare and contrast, Carrie, is that he can't, as much as he wants to do these things, and he's a combat Marine, and he's a loving father, and all this stuff about his mom, he never talks about the issues. | ||
| He never talks about his track record. | ||
| He never brings that up. | ||
| And people ought to really start to focus on that, Carrie. | ||
| What's he gonna say that he wanted to anybody? | ||
| You know, some of his record is anybody who didn't get the COVID shot. | ||
| He wanted them to pay 50% more for their medical insurance premiums. | ||
| He is the one who supported legislation that would Actually tack on an additional dollar to our gas prices. | ||
| Can you imagine somebody would do that? | ||
| And he wanted to support states to get rid of gas-powered vehicles. | ||
| These are just crazy issues. | ||
| He cares more about climate change than the economy. | ||
| He cares more about climate change than our border. | ||
| He cares more about, you know, just the most radical of all agendas than the things that are affecting Everyday Arizonans. | ||
| People cannot afford to put food on the table right now. | ||
| And this guy has been part and parcel to that. | ||
| He's voted for policies that have tanked our economy. | ||
| He's with Joe Biden 100% of the time. | ||
| The most frightening thing is he really is a mini-me Joe Biden. | ||
| He's 40 years younger. | ||
| So that means if we don't get this guy out of Washington, D.C., he's going to have a 40-year reign of terror. | ||
| I think he's far more radical than Joe Biden, but reasonable people can disagree. | ||
| Kerry, where do people go to find out about your campaign and social media? | ||
| They can go to CarrieLake.com, CarrieLake.com, find out where I stand on the issues, sign up to volunteer, make a donation if you can. | ||
| I know we're living in Joe Biden's world. | ||
| It's not easy in his economy. | ||
| You know, we've got to stick together. | ||
| This is going to be an intense six months, and we have to make sure we go out and get 10 friends registered to vote and make sure they vote. | ||
| It's going to be the most important election in the history of this great republic. | ||
| Carey Lake, thank you for coming on. | ||
| Carey Lake vs. Ruben Gallego. | ||
| Of course, Media Matters. | ||
| Madeline Peltz, our marketing director over there at Media Matters. | ||
| Don't let Carey be picking on you, okay? | ||
| We still depend upon you pushing the program. | ||
| Charlie Kirk next. | ||
| Jack Posobiec. | ||
| We're back at five. | ||
| Grass-fed beef liver, you need an energy jolt, you will get it. | ||
| Don't believe me? | ||
| Check it out. | ||
| Go to sacredhumanhealth.com and check it out now of what your compatriots are saying. |
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