All Episodes
May 18, 2024 - Bannon's War Room
48:54
Episode 3621: The Patriot Economy And Hedging Against Economic Collapse
Participants
Main voices
p
phillip patrick
09:59
s
steve bannon
21:10
Appearances
b
ben harnwell
01:55
m
mike lindell
03:02
r
raheem kassam
03:33
Clips
j
jake tapper
00:08
| Copy link to current segment

Speaker Time Text
steve bannon
This is the primal scream of a dying regime.
Pray for our enemies.
unidentified
Because we're going medieval on these people.
steve bannon
You're not going to free shot all these networks lying about the people.
The people have had a belly full of it.
I know you don't like hearing that.
I know you try to do everything in the world to stop that, but you're not going to stop it.
It's going to happen.
jake tapper
And where do people like that go to share the big lie?
unidentified
MAGA Media.
jake tapper
I wish in my soul, I wish that any of these people had a conscience.
unidentified
Ask yourself, what is my task and what is my purpose?
steve bannon
If that answer is to save my country, this country will be saved!
unidentified
Okay, welcome back.
Here's your host, Stephen K. Babb.
Okay, welcome back.
steve bannon
It's Saturday, 18 May, Year of Alert 2024.
Make sure you're on fire with us.
Get some Warpath coffee.
Get on the Warpath today.
Warpath.coffee.
Go check it out.
But what you should check out is what your fellow War Room Posse members are saying about it.
The rave reviews.
Also, sacred human health.
The grass-fed beef livers.
We need energy, energy, energy, action, action, action.
Just go check out...
What your fellow posse members are saying about that, just go to both websites.
Immerse yourself in information, you're free men and women, you make the decision.
Ben Harnwell, Larry Zweigart saying the nations of Europe are waking up, you got a big pushback on the migration, you and Rahim are arguing about what's going to happen in Ukraine eventually.
I'm worried about what's going to happen in Ukraine because I'm telling you folks, This is Vietnam all over again.
This is Iraq all over again.
This is Afghanistan all over again, and Rahim's nailed it.
The massive weapons manufacturers have basically owned the traditional Republican Party lock, stock, and barrel, and they are driving us into this.
Rahim said they need another playing field for another 20 years, another $7 trillion like in Iraq.
Harnwell, you're at the forefront of this.
Your thoughts before we let you bounce on a Saturday?
ben harnwell
Thanks, Steve.
Well, look, we covered during the week this Europe-wide poll that had been conducted by, commissioned by Arte Television, the Swiss, the French-German culture network, which had an astonishing result.
So the numbers basically between 79% and 89% against Europe and America having boots on the ground in Ukraine.
So there's a huge appetite not to go there.
And I think the European elections in around three weeks' time are a break, if you will,
on the European elites.
Over in the United States, I think the major breaking point is, as you've both been saying,
November this year, the presidential elections.
So that's the six-month window.
And as I suggested on the show the other day, I'll mention it again now, the way I am interpreting
General Charles Brown's comments, both from yesterday from his comments to journalists
in Brussels about getting NATO into Ukraine eventually, and again today we heard about
the Ukraine request to use American-provided missiles deep inside Russian territory.
My take on this is that there is some kind of negotiation, probably not explicit, going
on now between the White House and Russia.
And the deal is this.
Kharkiv can't fall.
Absolutely not.
Certainly not Kiev.
Cannot be allowed to fall.
Before November, before the presidential elections, because Biden's re-election is, I think, hanging on the back of that.
steve bannon
Do you buy that?
ben harnwell
Yeah.
unidentified
You buy that?
raheem kassam
Yeah, look, I understand the theory.
I also think that the contra could also be true, which is to say that they will say, you know now that this has
fallen This is evidence that we can't have somebody like Trump
here because clearly otherwise you the whole of Ukraine is going to be taken and then
Kiev will fall and then Russia will expand and they'll destroy it from both sides
steve bannon
It could yeah, it could go either way and we're gonna have you back on
This is gonna be I'm telling folks right now They every day this illegitimate regime are making steps
that draws further in to a shooting war I mean actually where we're part of it
You got the hundred and first airborne a brigade of them Right there in Romania right on the border
Ready to go in and they're gonna use any excuse in the world to get American combat troops in here
They're going to call them everything, trainers, specialists, all that.
You see what's happening with the targeting, and somebody in the House has to demand that Biden come on the War Powers Act and lay out in front of the American people now, not wait until the run-up to the election after Labor Day, but now to walk through exactly what his plan is for Ukraine.
Ben Harnwell, where do people get you, sir?
ben harnwell
Thanks so much, Steve.
On getter, simply tap in my surname, Harnwell, and I'll be updating my feed throughout the weekend.
Thanks, Steve.
God bless.
Bye.
steve bannon
Thank you so much, Ben Harnwell.
Okay, I got a short cold open.
I got Mike Lindell from last night.
Let's go ahead and play.
We'll bring Mike Lindell in.
unidentified
But Americans are not struggling.
You know, this is the worst platform.
Who put this stage up here?
This is the worst.
ben harnwell
The frickin' place is falling down.
steve bannon
I noticed it keeps tilting further left.
unidentified
Like too many other things.
What a crappy contractor this was.
I'm sorry guys.
No, it's true.
You know, I'm known as being a pretty tough negotiator, and sometimes I get a bad rep.
steve bannon
A contractor does a bad job.
I've met a lot of great contractors, but he does a bad job.
I don't pay him.
unidentified
And then they say, Trump doesn't pay his bills.
I pay my bills.
I pay the bills so fast if they're good.
ben harnwell
But this happens to me.
steve bannon
Look, the teleprompter is useless.
unidentified
It fell down.
I don't know why it fell down.
It's not like I don't mind.
mike lindell
I've lost teleprompters to wind.
steve bannon
There's no wind in here.
unidentified
So why the hell did it fall down?
Did you see it?
It fell down.
I'm standing here.
Listening to the great Lee Greenwood and the teleprompter falls off the stage.
Now I put my hand on this thing and the thing tilts over.
mike lindell
This is not... I think it was Emmer.
unidentified
Maybe Emmer doesn't like me.
steve bannon
Mike Lindell, you were there.
Tell us about it, sir.
Last time we left you, you were being attacked by Antifa trying to talk to us outside.
I guess you got through.
Secret Service took care of you.
Tell us about President Trump's speech.
mike lindell
It was a great speech, and everybody sees his humor in there.
He mixes humor and seriousness like no other person in history.
He took a bad situation.
The teleprompter actually fell off the stage while they were playing the song with Lee Greenwood, but what a great night it was.
And by the way, Steve, we took pictures in the back in front of the real Minnesota flag, the flag they should keep.
Not the new Islamic flag they got going here in Minnesota.
steve bannon
Whoa, whoa, whoa.
The flag we're gonna keep.
You're gonna get back and you're gonna keep it.
We're thinking about it.
It's gotta happen.
You can't have this Islamic flag over Minnesota.
By the way, breaking news.
I think it's in Wisconsin.
Give me a minute on that.
What happened in Wisconsin?
mike lindell
And see, you know what?
We need wins, everybody, and we're getting wins across the country.
You just don't hear about them.
You can always check that out at my electioncrimebureau.com.
Check it out.
But in Wisconsin, the Wisconsin Election Commission, now that's their equivalent of a Secretary of State, which we know across the country, that's where all this bad stuff starts with the Secretary of State, with our election platforms.
Well, the Wisconsin Election Commission just got put in their place by the great Judge James Morrison out of Marinette, Wisconsin.
He issued a temporary restraining order on them because what they were going to do, they were going to require that 1,900 of the local clerks in Wisconsin use these new This is really big, everybody, for Wisconsin and for our country.
that are illegal under Wisconsin law, that would be citizens committing crimes.
So the great attorneys Dan Eastman and Kevin Scott, they've been fighting, fighting, fighting in Wisconsin,
and they're heroes.
And this judge, finally, we're gonna get decisions, you're gonna see, to secure our election platform.
This is really big, everybody, for Wisconsin and for our country.
We get these victories all across the country and secure our elections.
We know who can't lose then.
steve bannon
But it is a TRO.
We're going to have to fight this one hard.
Audience wants a deal.
Give us a deal here on the Saturday morning, brother.
mike lindell
Well, as long as we're talking about our great real president, everybody, his favorite MyPillow product is our bed sheets.
And what we're doing for the War Room Posse, today and tomorrow only, we're running a special, the queen size, $26.98.
There it is, everybody.
They're on sale right now for the whole country at $49.98 for the queen.
$26.98.
You guys have followed my pillow.
This is the lowest price in history.
King's $29.98.
We had a retail outlet that actually, at the last minute, canceled their order for these and their loss is your game.
I said, you know what?
I'm going to give it to the war room.
Absolutely.
at these prices, these wholesale prices.
Use promo code WARMROOM.
And by the way, everybody, you still get your free, there it is, the free American flag
and the MyPillow 2.0, you get that absolutely free, no purchase necessary.
And so there, go to the website.
steve bannon
Hold it, hold it, hold it.
And that flag's got a star, it's got five points on it, the American star on the American flag.
Not an eight point Islamic star.
Unbelievable, unsaid.
mike lindell
That's our, yep, and you guys get that no purchase necessary.
And call my operators, see if you brought it up, the 800-873-1062.
They're standing by this weekend.
The IRS tried to get it so they couldn't work from home when everybody else is working from home.
steve bannon
But we just won't have, so here we go.
They're not on the government workers.
D.C.' 's a ghost town.
They're not on the Wall Street lords of easy money.
They're not on the tech feudalists, the sociopathic tech overlords.
They're on American citizens in Texas and California that work for Mike Lindell.
Mike Lindell, brother, we'll see you on Monday.
Great work there in Minnesota last night.
And by the way, I think Trump's right.
Minnesota's not just in play.
I think it's heading MAGA, right?
We should have closed the deal on 16.
mike lindell
Minnesota MAGA, everybody.
steve bannon
Trump was right.
I was wrong on that one.
Okay.
Thank you, Mike Lindell.
MyPillow.com, promo code WORM.
MyStore.com, promo code WORM.
800-873-1062.
And tell the operators we got their back.
Lo and behold, Real America's Voice has another massive hit on the weekend.
Let's go ahead and play this cold open.
unidentified
It's no secret, big corporations don't like your values.
Cold, fried-themed baby clothes.
A can with my face on it.
Starbucks will pay travel expenses to access abortion.
It's time to stop funding traders and start supporting patriots.
And I'm here to show you how.
You're in good hands.
I have a lot of experience in the shopping games.
This is so fancy.
It's fashion meets function meets travel meets everyday.
Go to publicsquare.com or download our app and let's start shopping.
I'm your host Erin Elmore, and you're watching Public Square Live.
steve bannon
Okay, we're very honored to have Erin Elmore here.
Last week we teed it up just briefly.
The show was a massive hit.
It was just incredible.
The second week rolls out tonight.
Tell us, why were people drawn to this?
What did you guys do to get everybody so excited?
unidentified
Well, I just think that so many of us conservative Americans, you know, we don't have Hollywood.
We don't have sports.
We don't have rock and roll.
So we are really craving our own space.
And big corporate America really doesn't like our values, whether it's campers that fund abortions.
steve bannon
They pushed us out, did they not?
unidentified
Right.
And they always say, well, if you don't like it, leave.
So Michael Seifert, our CEO, decided we are going to leave.
We are going to create our very own Amazon, except we're not funding the Chinese Communist Party.
We're funding American patriots who own small businesses within our 50 states who just want to see our country succeed.
steve bannon
Talk to us about the show.
You actually highlight people.
I mean, the feedback and the buzz I got off the first show, and you should know, they did record numbers, record hits, record sales, because you highlight.
Tell me about the folks last week, and then what are you going to do this week?
unidentified
So for Public Square, thanks to you as well, because I was on your show, so we appreciate that.
But once the show launched, we had the most traffic to Public Square since our inception.
Our other huge day was Black Friday.
We even beat that.
steve bannon
You beat Black Friday?
unidentified
We did.
steve bannon
We did.
unidentified
So we're really, really excited and happy and I think people are craving this kind of content.
So right now we're doing this 30 products to swap campaign.
Easy household items from toilet paper to perfume.
steve bannon
30 products to swap.
We're saying, hey, these people hate your values.
These are the products you use.
We're going to give you equal or better that people support your values.
unidentified
Exactly.
So every episode I feature some of those swaps.
This week coming up, we have Buffalo Wool Company.
It is socks made in America by an entrepreneur who lives on a farm where buffalo live.
And he decided, buffalo live in really difficult climates, both hot and cold.
I'm going to make socks that keep people's feet Cold or warm, you know, and cold.
So it's basically an amazing thing.
I tried them on and I said, these are the most unbelievable socks I've ever worn.
Something that's not super sexy, but we all need it.
Toilet paper.
A lot of our toilet paper is made by these big corporations, you know, five or six of them that control the narrative.
They're completely DEI, an American entrepreneur who's very family focused.
It's made in the USA.
It doesn't have harsh chemicals or dyes in it.
steve bannon
No forever chemicals.
unidentified
That's absolutely right.
We have a perfume by Woodsy Home Life.
You know, we're all trying to wear perfume as ladies and smell good, but a lot of them have hormone-disrupting chemicals in them, so this won't disrupt your hormones.
We have Breathe Naturals deodorant, a young, vibrant entrepreneur out of Miami who started making it in his dorm room in college.
It has no aluminum in it, so it's much better for you.
There is a tooth powder that actually helps treat cavities, and it doesn't have fluoride in it.
steve bannon
We're going to hold you through the break.
You know, Rahim said this in the first, that, that Megan, I said, Hey, I think a lot of it, because a lot of this movement came out of, or the new adherence came out of the pandemic, but they're actually against the forever chemicals.
They're against the big corporations, the poison America, that this movement is, is a populist movement.
It's a populist nationalist movement, but it's very focused on the environment and healthy stuff.
We're going to take a short break.
The new hit show here on Real America's Voice.
Back to it in a moment.
unidentified
Public Square Live.
Here's your host, Stephen K. Banff.
steve bannon
Okay, Public Square Live, the new hit show on Real America's Voice.
Make sure you go to the Public Square website or download the app as you guys are.
We know you're huge supporters of Public Square.
I love this show.
You're The Apprentice with Trump.
unidentified
Yep.
steve bannon
QVC, you're hardcore at MAGA.
unidentified
Yes.
steve bannon
We've changed things up a little bit today.
We're going to move the time a little forward.
So we're going to go to—and Grant Stinchfield's there in NRA.
President Trump's going to be at the NRA today.
I think he speaks about four.
There'll be the replay of the morning show on Real America's Voice of War.
And then it's 7 o'clock.
unidentified
7 p.m.
tonight.
If you miss it, 9 p.m.
steve bannon
tomorrow.
7 p.m.
Eastern Daylight Time today and then 9 o'clock tomorrow.
What do people need to get prepped?
They got to download the app?
unidentified
Download the app and just get ready to be entertained because they're just gonna feel like they have a home.
So many conservatives feel so displaced.
They don't want us on the left to have a community.
They don't want us to unify.
That's the only way they can keep winning with doing other things that we know.
This is the perfect course.
steve bannon
This is why people loved it last week.
The entrepreneurs are great.
You were very engaging.
It was like a good form of Saturday evening entertainment.
That's what made it work.
unidentified
Talking to these entrepreneurs has been the best experience of my life because these are people just like us who had an idea, they followed through with it, and I just get to tell and hear their stories.
And when you see something on a website, you might like it or even love it, but when you hear the story straight from the people that developed it, you fall in love with it.
You're gonna buy it.
You're gonna become loyal.
steve bannon
Public Square Live, 7 p.m.
Eastern Daylight Time, right here on Rural America's Voice, right after the replay of War Room.
We'll have you during the week and highlight some more entrepreneurs.
I love this.
I love what Seifert's doing.
I love what you're doing.
unidentified
Thank you.
steve bannon
Thank you.
Okay, let's go to Dallas, Texas, the NRA.
Grant Stenchfield, the number one guy that explained it all to us.
What's happened today?
People are saying the NRA is irrelevant, Grant.
It used to be a powerhouse.
They've been under lawsuits, but it's not the power it was.
Talk to me, brother.
unidentified
Well, you know, Steve, I spent a lot of years working for the NRA over at NRA TV and Wayla Pierre, the previous leader of the NRA, told me the biggest concern he ever had was the NRA becoming irrelevant.
And I'm here to tell you, Steve, I think the NRA has become irrelevant.
What's happening right now is leadership of this organization.
But I want to preface this by saying I love this group.
I mean, you look at the members here, there are 5 million members strong.
Hopefully we get 80,000 people coming in the doors today.
I love this group.
But this group has become very, very weak.
For whatever reason, leadership is running scared.
You've got all these lawsuits all over the place.
They're being drained with legal bills.
And I've spoken to a lot of board members who want change.
I've also spoken with board members who don't want change.
And Steve, It is the quintessential microcosm of what's happening in Washington, D.C.
You have establishment board members here that are afraid of what I would call the America-first punch-them-in-the-face movement that the NRA once was, and they just don't want any publicity.
And you've got the other group that says, hey, do what Dana Lash did, do what Stinchfield did, do what Colleen Noir did back in the great days where we were taking the flight to the Washington Post and the New York Times.
And I think, Steve, You could put this organization back on the map, but right now they're in dire straits.
That was a direct quote from a board member, Colonel Willis Lee.
I think you know him, a great guy.
Dire straits the NRA is in, not just financially, but also with its status here in the world as a civil rights organization.
steve bannon
But Grant, I've got to tell you, more than ever, you can tell this radical opposition, their focus on the Second Amendment, and let's be really frank, their focus on taking people's guns.
So what's going to happen?
unidentified
Well, they're going to do everything they can to do it, Steve.
You know they've never stopped their war on the Second Amendment.
And the only thing that's changed over the last few years is that they're open about it.
They used to talk about it in a way, oh, gun safety, this, gun safety.
Now they literally tell you they want to repeal the Second Amendment, which is outrageous.
Why?
Because the power is with us.
Remember, the Emperor of Japan in World War II said, there's a reason we don't invade the United States.
It's not because of our army.
It's because all of the citizens have guns.
And so they know power rests with the people when we are armed, and we're not giving up on that.
And it's why, Steve, I'm telling you, the NRA cannot fail.
We've got to change this thing around.
And I would urge the board, if anybody's listening, and I know they watch your show, Steve, if anybody's listening, start making change from the very top.
Change board members.
Do not go back to this old guard, which seems poised to get elected back in on Monday.
steve bannon
Grant, it's big enough for the President of the United States that President Trump come there.
He knows how important NRA should be.
Preview the talk today and then your coverage.
unidentified
Well, President Trump has always been a huge supporter of the Second Amendment and anytime, even if he strayed a little, right?
He would talk to leadership in the NRA and President Trump would then realize, OK, red flag laws is a great example of this and the dangers of red flag laws in due process.
Now, President Trump is one of the strongest presidents I've ever seen when it comes to due process.
Go figure why.
Look at what he's going through when it comes to all of those court cases.
So I think you're going to hear him talk about that.
I think you hear him talk about the defense of the Second Amendment and maybe most importantly, He's going to talk about the power of the people in the room.
You're going to have thousands of people watching this speech.
He needs every single one of them to turn out.
And you know, Steve, gun owners, especially hunters, personal protection guys, go out and vote.
Guys and gals.
Hunters, not so much.
You know, there's a huge voting bloc that does not vote in elections, presidential elections, when it comes to hunters and other gun owners.
President Trump will directly talk to them saying, we've got to overwhelm the ballot box to make up for any of the fraud that we're going to see.
And we will see it.
steve bannon
We're going to get you back.
We're going to have you on Monday before this vote.
This vote is very important.
You're absolutely 1,000% correct.
Grant, once again, what time do people tune in today?
Where do they go to your social media?
This is going to be a very important event for President Trump.
unidentified
Yeah, well, of course, the website Real America's Voice and all the streaming platforms.
I believe we start coverage at 2 or 3 o'clock Eastern.
He's set to speak between that time.
You know, it's always fluid with President Trump.
So keep it right there with Real America's Voice and me, Stinchfield 1776.
But the best way is GrantStinchfield.com.
steve bannon
Grant, we're going to have you back on Monday.
It's very controversial what's going on there.
We know you're a huge supporter of the Second Amendment and the right to bear arms, and you're absolutely correct.
You've got to play Smash Mouth.
You can't crawl in the cable now and hope it goes away.
Thank you, brother.
unidentified
Hey, buddy, I appreciate it.
steve bannon
of America's voice.
Not just the election, but the next year.
Election day, to getting through so they can't steal it, to the 20th, and then the first hundred days of the administration.
Where are we, Raheem Kassam?
raheem kassam
So not a complicated question then, just a simple one like that.
steve bannon
Look, firstly, I want to say... It's tough for me to get any work out of you, so when I see you, I get your... By the way, Raheem, is it raisin bread?
I've known this guy for 15 years now.
I used to kick sand in his face.
He's kind of wimpy.
raheem kassam
It's written right here.
steve bannon
Right there.
The Martini Club.
raheem kassam
It's raisin bread and extra dirty martinis.
unidentified
That's how we're doing it.
raheem kassam
That's the diet.
steve bannon
You must be working out two hours a day.
raheem kassam
I wanted to first say thank you, obviously, to you and the War Room Posse, but also to every single other person who's come out and joined the National Pulse.
We were talking about this before we came on the show.
You know, we don't sell any ads or anything like that.
We are 100% reader-supported.
So if you want to support real news, real scoops, right, getting into the nitty-gritty of things, real analysis, I had a good fun one the other day with Madea Goes to Congress, with what I call the ghettofication of Capitol Hill.
Wow.
Yeah, it's thenationalpulse.com forward slash war room is where you go to sign up and support.
And honestly, you know, I just downloaded, by the way, the public square app after listening to you and Erin talking.
I saw the 30 for 30 thing.
steve bannon
That's such an important point because... It was your point that you brought up earlier, that this is actually a very environmental movement.
No, it's a very environmental movement.
raheem kassam
No, it really is.
It really is.
And actually, conservatism is a conservationist movement.
Big time.
It's just that a lot of the corporate climate change stuff has deviated.
steve bannon
This is what had the Republican Party is too much corporate driven.
This is what MAGA is a populist movement.
People are conservatives or hunters.
raheem kassam
They know how to tend their natural environment.
You know, all of these things are incredibly important.
Another thing weird I know that I've gotten into recently, plants!
In my house I have plants absolutely everywhere now.
steve bannon
I see that.
raheem kassam
And it's an important thing not just to like break away from the monotony of sitting at your desk and typing out all day, but it's an important thing, especially when you live in a city like I do, is to actually learn to curate your natural environment.
I think a lot of the things that these Public Square guys are doing, a lot of these companies that they're promoting, they're focusing on, are doing that sort of thing.
steve bannon
Raheem's getting to be an otter and otter Old Englishman.
Yeah.
raheem kassam
Not very much so.
steve bannon
Rudy, last night you were there.
We got about two minutes.
By the way, Philip Patrick's going to join me after the next break.
It's going to be incredible.
Rudy, they dropped the subpoena.
They came in and... Yeah, I missed it.
But late in the evening, Rudy's doing a podcast I was on early the evening, a couple hours after I left.
I think 30 or an hour after you left.
unidentified
Yeah.
steve bannon
They came in and dropped the subpoenas on him.
They are hunting down Rudy Giuliani.
raheem kassam
I'm so sad I missed it because we could have live streamed the whole thing, you know, and and really shown who these thugs are chasing America's mayor around but it's interesting because You told me it's your fault.
You told me hey, you want to come and co-host in the morning?
So I looked at the time.
I was like, I better leave get a full night's sleep You know Be prepared to answer your 50,000, 100,000 foot questions on air.
So I left.
30 minutes later, the feds roll up and serve Rudy there.
But look, his 80th birthday party is where they show up.
I mean, this is thuggery to bring us right back to the beginning of the show that hasn't been seen since 1917.
You know, this is Bolshevik-type behavior.
The man, America's mayor, the man who steered the United States, and by the way, the world.
You remember, Rudy went and got knighted by Her Majesty the Queen after that.
That was the first time, by the way, that your national anthem has ever been played at Buckingham Palace was right after 9-11.
Wow.
And Rudy and Bernie were there for it.
steve bannon
They still take it personally, don't you?
Oh yeah.
One more time.
Social media, National Pulse, where do they go?
raheem kassam
The National Pulse dot com is the URL.
The National Pulse dot com forward slash forum.
You see on the screen there, by the way, $1.73 a week is what it will cost you to fund Real News, to help us keep going.
By the way, we don't want to just keep going.
We want to keep growing.
We want to add more staff.
steve bannon
That's amazing.
raheem kassam
By the way, if enough Most people join, I can't afford to come and do a show again, right?
But right now, I'm stuck at my desk, I'm editing copy all day long, so it's on you, ladies and gentlemen.
If you want this every day, it's TheNationalPulse.com.
steve bannon
The staff is fantastic.
Okay, Nicole Negrete is going to take us out with Modern Day Holy War.
Make sure you get your coffee.
Get your grass-fed beef liver.
Just go check the sites.
That's all I want you to do.
Go check the sites.
Philip Patrick.
We're going to talk capital markets, purchasing power of the dollar, where we are in macroeconomics.
Next, only in The War Room.
unidentified
War Room.
Here's your host, Stephen K. Vance.
steve bannon
It's a long time, viewers and listeners to The War Room, either the podcast, radio, or on all the streaming services, Real America's Voice and everywhere else they have us up.
People know The Saturday Show is near and dear to my heart, right?
Reminds me of a kid of working on Saturdays with my dad.
Always love it.
Love being here and making sure if you're on and about.
With your chores that you're either listening to us or recording us so you can watch it later in live stream.
My favorite part of that is Philip Patrick.
Philip, you used to always come on during the week.
I know you're too jammed now to do it.
You've been at this a long time.
Have you ever seen the market for precious metals for gold and for information about that?
Have you ever seen it more heated than it is today?
phillip patrick
Never, never in my and not for us, not only just for us at Birch Gold Group, we are busier than we've ever been helping Americans to try and protect their savings against just this Disaster of an economy under Biden, but it's also happening globally, right?
Central banks around the world buying gold at record levels.
We set a new record for the first quarter of 2024.
So it's bleak.
We're feeling it at Birch Gold Group, but it's across the globe right now.
Huge demand for precious metals on the back, of course, of a disaster with our US dollar inflation domestically and around the world.
So no, I've never seen demand at these levels.
steve bannon
OK, I want to go back.
We've talked about, you know, we did the end of the dollar empire.
You and I came with the idea, I think almost four years ago, because we saw when Biden and those guys first came in, we said, hey, the aggregate demand dropped that we had at the beginning of the pandemic.
And that was because people were trying to feel their way through it, including President Trump.
You had to have a big stimulus, but that essentially came back and we saw all these bills and all these thoughts and said, man, deflation is going to get out of control.
Aggregate demand is back.
You're relatively, and the employment's all coming back.
He's not creating new jobs, but people are coming back when the pandemic's lifted.
This is a classic example of how inflation is going to run wild.
The central bank, so we did that because we understood inflation, the drop in purchasing power of the dollar, a hedge against that would be gold.
What I never even would be possible is that they would start thinking through
this de-dollarization process.
I think it's 2022.
2022 and 2023 were both, I don't think 21 was, I might be wrong, but 22 and 23 were
basically both record years for central banks of other nations buying gold at record rates,
including the Chinese Communist Party.
The first quarter of 24, it hasn't eased off.
What does that tell you?
phillip patrick
Well, it tells us that the rest of the world are feeling what we're feeling, right?
They're holding dollars.
The dollar is the global standard for international trade.
They're watching the administration printing money like it's going out of fashion, devaluing the dollar, and we're incentivizing nations to start seeking alternatives.
Devaluation is driving it.
Then you look at what the BRICS are doing, right?
We showed and we've discussed this many times, but I think it's very important.
By seizing Russia's assets, we told Countries that disagree with us, their assets could become liabilities overnight.
We could take their assets and give them, for example, to Ukraine against Russia.
That told these countries that holding dollars could be a problem anytime in the future at the whim of the president, and it incentivized these nations to look for alternatives, but the problems that they have, Russia, China, Iran, is that amongst them they don't have a currency that can usurp the dollar, right?
They don't want to have to dump their dollars and be forced to hold rubles, and that's where gold is coming in.
See, buying gold is achieving two things for these nations.
Number one, it gives them the stability that they need.
In fact, Gold is just a better trade than the dollar today.
In the same time period that the dollar has lost 17 percent of its
purchasing power, gold is up over 20.
But the second reason that they're buying is why I do not think we will
be able to stop that train.
And that is that the more gold they buy, the less dollars they hold.
The less dollars they hold, the less demand there is for the dollar.
Ultimately, that leads to a weaker dollar and, ultimately, a weaker, longer-term argument for the dollar as global reserve.
And, you know, if the BRICS can launch a common currency, peg it to gold, give it some stability and legitimacy, at some point in the future, we could lose that official status And when we do, the game is up.
You cannot hold $35 trillion of debt when global demand for that debt is waning.
People need to understand how precarious a position that this administration has put us in.
And we've got to start making changes before it's too late.
steve bannon
I want to get to the Economist article about the end of the post-war international rules-based order that was predicated upon Bretton Woods in a moment, but I've had some congressmen on this week and they've been talking about, you know, this effort to de-Trumpify Trump's victory and take away his second term by handcuffing him about how he can negotiate with Russia.
To handcuff him about what he really can do in Ukraine.
Handcuffing him on what he can do really in spending.
In fact, they're talking about either a CR or kick the can down the road to make sure.
Because all these people right now, some of them are talking about, we got to clear the decks for Trump.
And what that means is they want to lock in a 2025 fiscal year budget right now.
But even when I talk to them, even the guys on our side of the football, I asked him, I said, okay, fine.
We got to get to this.
Our audience is not going to support a CR, but let me walk through about how we do this.
Phillip, when I say, well, listen, first off, we're already in May.
It's Memorial Day, basically.
The summer's here.
Recesses.
Then they're going to go away to campaign.
September 30th is the date.
I haven't seen any single subject appropriations bills going through.
I said, what is the top line?
Have you guys agreed upon a top line yet?
Just a top line number that everything else Falls in place.
And they go, no, we're working on that.
And I said, well, look, Biden's put a $7.3 trillion budget out there as a proposal that's obviously dead on arrival.
It'll be another $1 trillion to $2 trillion deficit.
But where are you guys?
And everything they come back with, Philip, is maybe $100 billion in cuts.
And those cuts are ephemeral.
They're all kind of in the out years.
They're not hard cuts to programmatically.
Now, there may be a rate of growth.
What happens if we, even before President Trump comes to office, basically agree with the Biden regime that we're going to agree to over $7 trillion of spending in anywhere near a $1.5 to $2 trillion deficit that, quite frankly, is going to have to be financed by the Federal Reserve?
phillip patrick
Yeah, I mean, it's unsustainable.
It has to stop now.
Look, there's one thing at this point that can save the dollar, and that is an immediate cut to federal spending.
We're not just talking about balancing the budget here.
We're talking about going further, right?
How do we pay down this outstanding debt?
But the problem is That that would involve accepting reality, right?
And that is something that this administration are literally incapable of doing, right?
This would mean needing to stop blaming greedy corporations, Vladimir Putin, supply chain snarls for the current crisis, and understanding that massive deficit spending has real consequences.
And this is particularly at a time when global demand for the dollar is waning.
So, you know, everything that's being discussed on both sides of the aisle, it's just not enough.
Right.
We've taken this too far and we have to put a stop to it and we've got to do it now.
We've really got to start focusing on how to pay down that debt, not just not spend more money than we have.
That should be obvious.
How do we tackle this colossal debt problem?
I don't see the solutions, particularly not if we continue down this path.
It's an absurdity.
And by the way, I now have to watch Biden on television telling us how it's all our imagination.
There's nothing wrong with the economy.
There's no inflation.
And it's just a joke.
steve bannon
And Americans have more than enough money to pay for it, right?
We've got 9.8% credit card defaults right now on a $1.3 trillion credit card.
People are barely making it month to month, and the guys using credit cards are all going belly up.
I want to go to The Economist, one of the most revered magazines in the world, and really kind of the, I guess, the people magazine of the party of Davos.
Their huge story this week is the end of the post-war international rules-based order.
And they clutch their pearls and go, of course, they're blaming America first, they're blaming the deplorables, they're blaming MAGA, particularly President Trump, his economic policies.
But they don't really get into the underpinning of that order.
Besides an American security guarantee was the dollar.
The Bretton Woods.
The dollar is the prime reserve currency.
And that was kind of a security guarantee because we committed to have price stability.
Our elites destroyed that.
That wasn't MAGA.
That wasn't diplomacy.
We've argued from day one the exact opposite.
phillip patrick
Your thoughts, sir?
You're absolutely correct.
I mean, this began in the 30s, in 1971, when we came off the gold standard.
And ever since then, we've seen a slow, gradual decline in the purchasing power and the stability of the US dollar.
And obviously, that has been escalated dramatically over the last 10 years, but particularly over the last three and a half.
You mentioned Trump.
Trump had a pandemic.
We had a black swan event.
We had a global pandemic.
We needed stimulus to get through it.
But once we did, when Trump left office, we had a market that was rocking and rolling.
We had a strong economy.
And Biden stepped in and continued absurd spending.
Under Biden, we've spent more in four years than Obama did in eight years.
And Obama could spend money like nobody else.
The levels that we are getting to today are obscene.
And it's no wonder that the world is de-dollarizing, right? And that's me
saying it. If I'm in charge of the central bank of even a friendly nation, it doesn't make
sense to continue to hold dollars, and particularly not when you look at this debacle going on
in Congress. What are we telling the rest of the world by running these massive
budget deficits? We're telling them we don't care about the value of our dollar, but you know what?
They are going to find an alternative.
And when they do, like I said, the game's up for us domestically.
steve bannon
I've always said that being the prime reserve currency, like the English had it before the United Kingdom with the pound, you know, it was, you know, Spain, you've had France, you've had Portugal, the Dutch, it's gone through different empires throughout history.
There's tons of responsibility that comes for it, and maybe the country doesn't want that.
But it ought to be a process of debate.
It ought to be debate in Congress, ought to be debate on television.
We really want to come, if we want to continue to be the prime reserve currency, The way we're doing it now, there's no debate.
They've kind of grabbed onto this modern monetary theory where deficits don't matter.
They're continuing to spend and we're finding that deficits do matter because that's where
real inflation comes, impacted into how you have to refinance this.
If they drop us, and it's not going to happen overnight, but if they're able to get a basket
of currencies and de-dollarize, we become Argentina.
The greatest export we have right now is the dollar.
If the world says, no, I don't want the dollar because you're devaluing it all the time, the purchase power is dropping, so I'm taking a 10% hit every year, I can't do that.
If they stop doing it, It's just not simple that we can't do the Treasury bills for a third of the debt all the time.
Because they don't need the dollar, we become like Argentina.
We've got a minute on this side.
Philipp, I'm going to bring you back.
Your thoughts?
phillip patrick
The answer is absolutely yes.
And listen, at the end of the day, as global demand for debt starts to wane, what do we have to do?
We have to make that debt more attractive.
What happens?
It becomes more expensive.
and the whole house of cards comes crashing down.
And then before you know it, we become the United Kingdom, right?
Let's not forget the pound sterling is a currency today.
It has lost 96% of its buying power since, you know, since Bretton Woods.
That is the effect.
We had the wealth sucked out of that nation.
You take London economy out of the United Kingdom.
It is a joke of an economy.
That's what happens when you lose a grip on global reserve currency and you lose
your position in the world and we are heading down that same path 19.
So we're running out of time.
But in 1971 when Nixon took us off the gold standard.
Central banks around the world knew how it would end, right?
They knew that it would end in massive money printing, huge deficit spending, and we've done exactly what they predicted.
steve bannon
Philip, hang on for one second, we'll be right back.
Birchgold.com slash Bannett, you get the end of the dollar empire, five installments all free, the last is about economic freedom and security.
As personified by the central bank digital currency, you'll be shocked of our analysis of fiat money versus the central bank digital currency.
Short break, Philip Patrick on the other side.
unidentified
War Room, here's your host, Stephen K. Bannett.
steve bannon
See, the reason I love this show is, like, I was a paperboy back when I was a kid.
Get a chance to read that Saturday paper and the Sunday paper.
Get a chance to read it.
You learn something new every day.
Philip, explain to our audience what the gold trade is.
You just talked about it.
I know people, you know, always ask me what's the price of gold, but you got to look at it.
Relative to the dollar, the dollars, the drop in the value of the dollar is what's screwing Americans and quite frankly, screwing nations of the world, some that are allies, some that are friends and some that are enemies.
What is the gold trade?
phillip patrick
It's very simple.
Gold's price based on a couple of things, based on supply and demand, and it's based on the strength or weakness of the dollar.
And oftentimes when we see gold prices going up, what we're seeing is just the dollar coming down.
A very simple way to explain it.
And, you know, gold's buying power, and I use this, you know, I say this all the time to clients, gold's buying power doesn't really change, right?
Gold is an incredibly consistent asset.
in terms of what it purchases, right?
I always give a very extreme example.
You go back to biblical times.
One ounce of gold would buy somebody 400 loaves of bread.
Today, at a little over $5 a loaf, it does the same thing.
It buys 400 loaves of bread.
So the key is, it's not gold's purchasing power that is changing.
What's changing and changes every day, and particularly in this climate, is the value of the dollar.
So essentially, as the dollar becomes weaker, we need more weaker dollars to buy the same ounce of gold, hence that inverse relationship.
That is why, by the way, central banks around the world are buying gold at record levels.
People have to understand a bet on gold at that level is a huge bet against the US dollar.
steve bannon
Also, people would say, well, the dollar's doing good against these other currencies.
I said, yeah, they're the world's tallest midget.
All the fiat currencies, because you have $350 trillion of debt, you've got the world's biggest margin call.
That's why when you look at the dollar vis-a-vis other natural resources or precious metals, and particularly gold, it's a different deal, is it not, sir?
phillip patrick
Yeah, it is exactly correct.
And that's what we're talking about, right?
We're talking about purchasing power.
American people are losing purchasing power.
How do you protect against it in climates like this?
Gold was designed for climates like this.
When your problems are inflation, dollar devaluation, recession, all of these things are designed To design all of these things, drive gold prices up.
That is why central banks are looking at it.
That's why investment demand is at all time highs.
It's across the board.
And it's because of the nature of our problems and the realities of the Biden administration's economy.
steve bannon
So when people, we give them the macro every day here, talk about capital markets, we bring in some of the best experts in the world.
Scott Besson, Jason Trennard, E.J.
Antoni, Dave Brett, and many, many others.
But we turn people over to you and say, hey, if you really want to talk about instrumentality, how do you actually do it?
You got to go to the guys at Birchgold.
Walk our audience through what happens when they contact you guys.
What's the process?
phillip patrick
It's really simple.
I say it all the time, but the most important thing for us is leaving people informed.
You know, they come to first you reach out for information, birchgold.com forward slash
Bannon.
That's going to give access to a free information kit on how people can invest in metals, why
they're so important in this climate.
It'll give them access to the end of the dollar empire reports.
Really good history from, you know, the creation of the Federal Reserve up until today, the
dollar's history.
And then most importantly of all, if they want to take another step, they're going to
have access to myself or people like myself.
We can help sort of guide people through, show them how it applies to their own circumstances
Make sure people are informed, educated, and understand where the solutions lie.
So, it's really simple, but information is big for us.
So, birchgold.com forward slash Bannon, that'll get them the information.
steve bannon
Philip, thank you so much for doing this.
How can they get you on Getter?
I think you're available on social media.
Where do they go?
phillip patrick
Yeah, Getter, the best social media platform, at Philip Patrick on Getter.
I love it.
I try and put out as much as I can.
So, at Philip Patrick on Getter.
steve bannon
Philip, thank you so much.
Honored to have you on here.
Thank you for doing The Saturday Show with me.
phillip patrick
Thank you, Steve.
My honor.
Thank you.
steve bannon
Big week for this audience.
As we conclude this week, and head into next week, which is going to be quite
historic.
It looks like they may finish the cross-examination on Michael Cohen.
It looks like they may — you know, it's up in the air right now what is going — the
strategy of what President Trump is going to be.
But this case could go to the jury within the next week or two, or maybe even sooner.
They've already talked about presidential — what, presidential debates to the end
We know that Jack Smith's going to have a mini trial about his conduct in this classified documents case.
We're hurtling towards a constitutional crisis about the exertion of executive privilege to try to protect Joe Biden.
It's getting more and more turbulent, but this audience is having a bigger, bigger impact.
What was accomplished this week because of this audience is nothing short of extraordinary.
You guys have been amazing.
You've been at the ramparts, you've been putting pressure on people, and you've been force multiplying.
Remember, all of our content here is free.
We try to make it ubiquitous.
What we want is force multipliers, and that's people that sit here and understand the content and then can help push it out, make contacts with people and just push, push, push, and then make sure that your representatives know where you stand on these topics.
None of this, none of this going on offense, on lawfare would have happened without you.
People going up there to protect President Trump and have his back on this fiasco in New York was driven by you, by your interest.
What happened with these letters coming from these congressional committees and eventually now maybe even some investigations came because of you.
We know that because the Democrats in the opening day of the weaponization took this show specifically and its audience and said, oh, these are the guys, these are the cult members that are driving this.
Well, nothing could be further from the truth.
You guys are driving it because you're patriots and you love your country.
We've only begun to fight here.
This is going to be a long, tough one.
And no, it's not for everybody.
The show's not for everybody.
This fight's not for everybody.
That's not saying that people that can't do it or can't stick with it are bad or weak.
It's not.
It just takes a certain type of patriot that's absolutely diamond hard on their resolve to make sure that they save this republic.
And folks, we are in a battle, I think, the greatest battle ever for this country.
Not by external enemies, that's bad enough, but by internal enemies.
Remember, all enemies, foreign and domestic.
And domestically, we've got them.
I think we've done a pretty good job of identifying them.
But that's why we continue to fight on.
I want to thank everybody.
Okay, we're going to be back here.
Real America's Voice got amazing programming throughout the rest of the weekend.
I think a replay, we do a replay of War Room Saturday on Sundays, I think at noon.
Maybe it's at 10 o'clock, maybe the exact same time.
So go check it out.
I'll be up on Getter all weekend.
Make sure you check out Coffee, warpath.coffee.com.
You get a 15% discount.
You also get, I think, the best roasted coffee ever, particularly the dark roast, my baby.
But the mild blends, the medium blends are all perfect.
warpath.coffee.com.
unidentified
Also, grass-fed beef liver.
steve bannon
Get an energy bolt.
Go to sacredhumanhealth.com.
We'll see you back here live, 10 a.m.
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