May 24, 2024 - Bannon's War Room
48:54
Participants
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| Speaker | Time | Text |
|---|---|---|
| This is the primal scream of a dying regime. | ||
| Pray for our enemies. | ||
| 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 line? | ||
|
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. Babb. | |
| Okay, we kick off Memorial Day weekends Friday, 24 May in the year of our Lord, 2024. | ||
| We'll have special programming in and out today and of course tomorrow and we have our annual show on Monday and Patrick K O'Donnell will actually join me in studio and we'll go through that, you don't want to miss it, where we honor our war dead here on every Memorial Day in the War Room. | ||
| Julie, by the way, Warpath Coffee, my producer's in my ear so I couldn't quite get it out last time. | ||
| Warpath Coffee. | ||
| Warpath dot coffee. | ||
| And make sure you put in War Room, because you get your 15% discount. | ||
| But here's what I want to do with all these things. | ||
| Just go to the site, immerse yourself in all the information, how these Navy SEALs made the greatest coffee ever, roasted the greatest coffee ever, the diligence that they do to do this, and then the response from the audience. | ||
| You just really got to dive into some of the endorsements from folks just like yourselves that have gone over there. | ||
| And I'm proud to say that the dark roast, my baby, that I worked on these guys with, I guess, almost two years. | ||
| The Mariner's Blend, right? | ||
| The Mariner's Blend. | ||
| Not that we didn't love that black coffee on the mid-watch on a Navy Destroyer, but hey, this is premium coffee. | ||
| It'll hit the spot. | ||
| Julie Kelly, and just a heads up on social media, folks, you should know this, Julie Kelly is indefatigable. | ||
| and uh... as tough as bootlegger but baby they're coming for you like and here's the thing upsets the most julie you're not a lawyer that's the first in the lead in their julie kelly my lawyer julie kelly the social media on the shows you you're literally blowing their heads up because you're actually going to the receipt you're in the courtroom number one and then you've been in the courtroom on jay six now you're doing this and you only do things that you can document in receipts I am adamant, as I've looked at it and looked at all of your reporting and what you're exposing, this FBI raid was what it was. | ||
| It was a show of force and they wanted to trigger a reaction. | ||
| There's just no doubt. | ||
| This is not a standard operation. | ||
| That standard operating procedure line is nonsense. | ||
| I know you're doing more reporting on this. | ||
| Can you show us a little leg on this about where you're going with your investigation? | ||
| Well, I'm going to how Despite what Merrick Garland, and you've got to love Merrick Garland coming out and responding basically to my recording, which was based on defense motions, Trump motions, court motions, and Judge Cannon unsealing them. | ||
| It's not like I made it up. | ||
| I just knew that this was going to hit the docket on Tuesday. | ||
| I was the only person apparently paying attention to the docket, so I was sort of lucky in that way to find this and post it. | ||
| But for Merrick Garland to come out and say, this is normal. | ||
| The FBI, of course, Tuesday night, a few hours after my reporting, coming out saying, no, no, no, this was a policy to limit the use of force. | ||
| No, that's not what the policy said, very clearly says. | ||
| Use of force policy, not how to limit it. | ||
| Of course, there are caveats, that's typical. | ||
| But the idea, so where I'm headed with this, and I've been looking again at some congressional testimony by Steven D'Antuono, who was head of the Washington FBI field office at the time, shockingly comes out as the good guy here. | ||
| Because as you know, Steve, he was just promoted from the Detroit field office after pulling off the Whitmer Fednapping hoax. | ||
| He actually fought back against the DOJ. | ||
| Jay Bratt, according to the Washington Post, Jay Bratt, Who was the lead prosecutor, head of counterintelligence for DOJ. | ||
| He helped concoct this whole case. | ||
| He wanted to execute the raid in May of 2022 based on nothing except a criminal referral from the National Archives, who also had already been in cahoots with DOJ and the Biden White House General Counsel's Office to put this bogus case together. | ||
| The Washington Post reported Jay Bratt wanted an armed raid in May, and there was pushback from the FBI. | ||
| Again, that's how they got the subpoena that was issued to the Trump organization. | ||
| So I'm going back piece by piece from the very beginning, how there was nothing normal, standard operating protocol procedure about this raid from start to finish, including the fact that these agents showed up Per DOJ and FBI's instruction, these agents from Washington and Miami showed up in plain clothes. | ||
| No identifiable insignia, no jackets, no shirts. | ||
| They were told not to even bring their badges. | ||
| So to your point, and I don't concur with the idea this was an attempted assassination plot. | ||
| I want to make that clear. | ||
| But to your point, They set up circumstances that very easily could have resulted in what Dan Bongino has identified, a blue-on-blue situation between armed Secret Service and armed FBI agents. | ||
| But also, if Donald Trump as a former president and a protectee of the Secret Service, so was Melania Trump, so was Barron Trump at the time. | ||
| Imagine if they would have showed up at Mar-a-Lago, demanded, of course, entry into their own residence, The Secret Service is sworn to protect them. | ||
| This very easily could have descended into a very dangerous, potentially deadly situation. | ||
| Listen, and I realize you're the straight reporter doing this, I can go off, but no, this is totally unacceptable. | ||
| Totally unacceptable for a paperwork archives to have this and people say it's standard operating procedure. | ||
| It's standard operating procedure when you go down where the four agents died the other day, you're delivering a warrant. | ||
| On a guy who's been a felon and has been in prison for years and he's got guns in his house right now. | ||
| That's what those kind of things are. | ||
| Or you're going out and kicking down the door in a cartel. | ||
| This is a president of the United States and it's in the winter White House that's historic because of the Xi visit and the Abe visit. | ||
| This thing's a national icon. | ||
| These talking heads, oh, it's a standard upper procedure. | ||
| And Byron Donalds and these people, and I love Congressman Donalds, when you get Abby Phillips, you've got to brace these people up. | ||
| You can't be backing off of this. | ||
| It's an assassination attempt. | ||
| Full stop. | ||
| You laid out the groundwork. | ||
| They didn't know Trump was going to be there or not going to be there. | ||
| This is unacceptable. | ||
| These people are out of control. | ||
| We just found out they've had these documents on Biden. | ||
| Here's what it is, folks. | ||
| This is like The end of the Roman Republic and the Roman Empire where the Praetorian Guard actually encircled the Emperor and eventually they started picking who it was. | ||
| The National Security State and Deep State and parts of the Pentagon are like a modern Praetorian Guard. | ||
| They will protect it. | ||
| They're going to select what's going to happen. | ||
| They're going to do what they're going to do and you're just going to have to live with it. | ||
| Hey, we ain't doing that. | ||
| They're just as bad, if not worse, than George III and what the Brits were in 1772, 3, 4, and 5. | ||
| We're not going to tolerate it. | ||
| We're not going to tolerate it. | ||
| I don't care how much they go on there. | ||
| Oh, look at these people. | ||
| We're taking the country back, and you know why we're taking the country back? | ||
| Look what was in the Bronx yesterday. | ||
| President Trump went there and did not pander to those people. | ||
| He treated them like adults and he treated them most importantly like the cherished American | ||
| citizens they are. | ||
| And look at their feedback. | ||
| They've had a belly full of this. | ||
| They know exactly what's going on and they didn't have to go to Harvard and get a degree, | ||
| right, and go protest in the Harvard yard to understand what's going on. | ||
| They're hard-working, common-sense Americans. | ||
| And people realize exactly what's going on here. | ||
| And we're not going to back off one inch. | ||
| And if you don't like it, then that's your problem. | ||
| Because we're taking back this country. | ||
| And we're going to set a new set of standards, which are the traditional standards of how things have been run. | ||
| Julie, you're a target, baby. | ||
| They're coming for you hard. | ||
| You watch. | ||
| I mean, on social media and on these shows, they say, this Julie Kelly's a problem. | ||
| And she's a problem because she's indefatigable. | ||
| She goes into the court, and she reports the facts. | ||
| And they hate the fact that you didn't go to Columbia Journalism School, and they hate the fact that you didn't go to Harvard Law School. | ||
| They hate it. | ||
| They hate it. | ||
| Julie, fantastic work. | ||
| Where do people get your work over Memorial Day weekend, ma'am? | ||
| Thanks, Stevie. | ||
| I'll be working, of course, Memorial Day weekend, except for a few breaks here and there, like playing tennis this morning, which apparently you didn't appreciate that. | ||
|
unidentified
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But, you know, I do have to get some physical... It didn't sit well with me. | |
| So, be satisfied with Julie Kelly as my substit, Real Clear Investigations, I also write for, and of course, Twitter, Julie underscore Kelly, too, and Truth Social, Julie underscore Kelly. | ||
| Thank you, ma'am. | ||
|
unidentified
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I appreciate it. | |
| Thanks, Steve. | ||
| From the beginning of the show today, there is a common thread, and the common thread of things that we've been working on and working with this audience on for years, whether it's the South Bronx. | ||
| As we said, the MAGA movement is a growing movement, and it's a movement of every race, ethnicity, color. | ||
| Religion. | ||
| It's people that love their country and will put their country first and put American citizens first. | ||
| Sergeant First Class Frank LaRose, the Secretary of State. | ||
| Voter integrity. | ||
| How you do it right and how you stand up. | ||
| If the Democrats aren't going to play by the rules, then they've got to suffer the consequences. | ||
| Solomon with these investigations. | ||
| We've been all over for years. | ||
| Remember, we broke the laptop from hell years ago. | ||
| Julie Kelly with her work. | ||
| Now, and we keep talking about, we're in the early stages of the kinetic part of the Third World War, and we had Captain Fennell and Dr. Thayer. | ||
| They're going to join us now with what's going on in Taiwan, but I want to start with you, Captain Fennell. | ||
| Captain Fennell, you're adamant by saying, hey, folks, see what you see. | ||
| There's already a million casualties in this war already. | ||
| This thing is going. | ||
| This thing's rolling. | ||
| I mean, tonight at 6 we're going to talk about Sunak and the Brits, and one of the inside baseball are telling Rahim and Ben, who are very dialed in, he doesn't want in because he doesn't want to be a wartime prime minister, and that's happening. | ||
| Captain Fennell, let's start with you. | ||
| What's happening in Taiwan, but the bigger picture. | ||
| The third world war is rolling, baby. | ||
| It's happening right now. | ||
| If you just take a look at the big picture, we're already started the kinetic part. | ||
| Captain James Fennell. | ||
| Yes, Steve, good evening and glad to be with you. | ||
| What has gone on for the last 48 hours is what the Chinese announced on Thursday, late Wednesday, Thursday, Joint Sword 2024 Alpha. | ||
| And essentially what's happened over the last 48 hours is that we saw PLA rocket force batteries go out of garrison and do mock fire strikes, to use a word from their doctrine, fire strike. | ||
| And ships go to sea. | ||
| We had some 16 naval combatants surrounding Taiwan, bombers and fighters up with live ordnance. | ||
| And then we also had the Chinese Coast Guard for the first time operating around within two miles, almost three miles of the offshore islands that Taiwan holds just right off of the mainland of China. | ||
| And also maybe east of Taiwan, which would be a first ever as well. | ||
| And so this has all been percolating, and the most important thing of it is that it's a strangulation strategy that the Chinese are doing in order to prepare their military to have the capability to be able to conduct an invasion of Taiwan with very little or no notice. And so | ||
| they talk about, you know, that the reason they did this is because the new president of Taiwan, Lai, in his speech | ||
| mentioned two states. And so they use that as a pretext for all, obviously, they already had this exercise planned and | ||
| in the bag and ready to go. And it didn't matter what Lai said in | ||
| his speech, they were going to implement this. | ||
| And what's important is that this is being done in phases. | ||
| And they mentioned yesterday in their own press Alpha Bravo Charlie, and now today they're talking about a Delta. | ||
| But the Alpha Bravo Charlie, the ABC, represents Their doctrine, which is they have a doctrine for how they're going to invade Taiwan, and they start off with a joint fire strike, which is launching ballistic missiles, anti-ship missiles, all these missiles that will rain down on Taiwan and their military and their political leadership. | ||
| Then they'll establish air superiority in the joint anti-air raid campaign. | ||
| And then finally, they'll do the joint island landing campaign. | ||
| So I think what we saw in the last 48 hours at the operational level is the testing of their command and control in a very short time period. | ||
| This is the third time that they've done these exercises. | ||
| They did one back in August of 22. | ||
| Then they did joint sword, the very first joint sword, April of 23. | ||
| And now this one. | ||
| And those previous exercises were 4 or 5 days. | ||
| This one was 2 days. | ||
| I expect phase Bravo will be a 2 day event. | ||
| Phase Charlie will be a 2 day event. | ||
| And if there's a Delta, it'll be something else. | ||
| Maybe short as well. | ||
| But the point is, the Chinese command and control, this is about command and controlling forces and being able for Xi and the Central Military Commission and the People's Liberation Army commanders being able to attack and control this war with lightning speed. | ||
| What they used to, I gave a speech 10 years ago, we talked about a short, sharp war. | ||
| That's what the Chinese want. | ||
| One last point. | ||
| In December, the people come in... Captain, hang on one second. | ||
| Hang on, we'll get to the point. | ||
| We're going to take a short commercial break. | ||
| Dr. Thayer, Captain Finnell. | ||
|
unidentified
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Here's your host, Stephen K. Vance. | |
| Okay, in a moment, Jason Trenner is going to join us, and I just want to tell you the lead story on the comment section of the Washington Times, which is the best op-ed section in the nation. | ||
| Inflation is settled as an election issue. | ||
|
unidentified
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Wow. | |
| Remember, he came on and teased it last week. | ||
| Amazing piece with great charts. | ||
| We're going to get to that in a moment. | ||
| The Chinese Communist Party and the PLA and the People's Liberation Navy, they don't seem particularly concerned about yours and mine's beloved Pacific Fleet, and particularly the 7th Fleet, doing this out in the open and kind of up in our grills, sir? | ||
| That's right, Steve. | ||
| You know, people are talking about this as a message to the new president of Taiwan, which it certainly is. | ||
| But it's also a message to the United States, our leadership, and it's also the new commander of the Indo-Pacific Command, Admiral Paprow. | ||
| He's going to be facing this. | ||
| He's just come into the job in the last month. | ||
| So this is a test for him, even though he was the Pacific Fleet commander before that. | ||
| So this is very much a, hey, we're going to take this and you can't do anything about it moment. | ||
| And I would just like to add one other thing. | ||
| You know, we talked about this operational level stuff, but at a kind of a strategic level, people talk about, and I know Admiral Stavridis is, you know, sometimes pooh-poohs the capabilities of the PLA and says that their officers haven't ever fought in wars and things of that nature, and so therefore we've got an advantage and we're superior. | ||
| Well, just so you know, the person that's running the PLA today was appointed in December. | ||
| Admiral Dong Zhong is the first admiral in the history of the People's Republic of China to be in charge of the PLA. | ||
| A land power has placed—Xi has placed an admiral in charge. | ||
| And this admiral, 10 years ago, was the first commander of the Chinese East China Sea Joint Operations Center. | ||
| 10 years ago, he was the first commander of a joint operations center that's right across from Taiwan in the Fujian province. | ||
| So we have a guy running the PLA today for Xi Jinping. | ||
| That is the man that has been studying for a decade and planning and working to seize Taiwan. | ||
| And now he's running the entirety of the PLA. | ||
| So we should be very concerned about this. | ||
| Because as I keep saying, an attack to take Taiwan isn't just going to kill Taiwan citizens and Taiwan military. | ||
| It's going to kill Americans and our allies in Japan and other places. | ||
| But Americans in the US 7th Fleet will be targeted, whether they're in Guam, Whether they're in Okinawa or coming out of Tokyo, wherever they're at, Chinese missiles, carrier missiles, ballistic missiles, anti-ship cruise missiles, hypersonic missiles, are targeting the U.S. | ||
| By the way, you gave up your career to warn America about this over 10 years ago. | ||
| Is it worse now than you thought it was going to be? | ||
| Well, I talked about that this is the decade of concern and so I expected that we would be in this situation I thought it'd be closer towards the end towards 2030. | ||
| So we've actually moved them the the marker up five years my estimation No, that's Do you think they've got the capacity right now? | ||
| I do. | ||
| Look, I disagree with Stavridis. | ||
| We were officers together at the same time. | ||
| And I disagree with him on almost everything, except for the fact about fighting the ship. | ||
| They don't have the experience that we have. | ||
| But man, you read these reports of the McCain stuff, you don't understand the Seaman ship. | ||
| Do we actually understand how to fight these ships? | ||
| Do you believe we have a possibility of having a carrier battle, with what you've seen and what the PLA is putting up now, that we could actually have a carrier battle group at the bottom of the South China Sea or the Straits of Taiwan? | ||
| Well, we're in the process right now of swapping out our four deployed Navy carrier. | ||
| The USS Ronald Reagan is leaving and the USS George Washington is returning back to Yokosuka, Japan to be home ported there. | ||
| She came out there the first time in 2009. | ||
| And we do have a risk because of these weapon systems. | ||
| The Chinese call their counter-intervention strategy, we call it anti-access area denial. | ||
| And so they've designed for the last 20 years, weapon systems that were specifically designed to sink the US Pacific Fleet, 7th Fleet forces. | ||
| And so it's a real possibility. | ||
| Now we haven't been sitting on our hands and we've developed countermeasures to some of these ballistic missiles and anti-ship cruise missiles, but it is a risk. | ||
| I don't think they can put a carrier down to the bottom with just one missile. | ||
| So we have some survivability, but we have to... | ||
| Admit that it's a risk. | ||
| We have to know how to fight inside that envelope. | ||
| Some people don't want to fight in the envelope. | ||
| There's people in Washington that want to get rid of our carriers, and I think that would be a big mistake right now. | ||
| We need our carriers, and we need to be able to fight, and we need to be able to repair them like we did in World War II. | ||
| So we need to go back in a way to... People don't want to do it, but we need to think in World War II terms. | ||
| This is going to be a kinetic war, and if we're going to survive and not just get blown out, we're going to have to have Repair and rescue capabilities that we don't really have. | ||
| We're being sucked into that kinetic war all over the place. | ||
| Dr. Thayer, the big picture here. | ||
| Connect the Eurasian landmass with this war in Ukraine. | ||
| Reuters reported today Putin is prepared to sit down and talk to anybody as long as all the Territory that the Russians already have are theirs. | ||
| We have reports that French, American, UK specialist technicians are actually there working these missiles and missile systems and missile complexes that are going into Russia. | ||
| Your thoughts, sir? | ||
| Well, Steve, it's great to join you. | ||
| My thoughts are these. | ||
| First, that this is a way clearly of sustaining the war. | ||
| Putin has had essentially a proposal for an armistice on the table since September of 22. | ||
| And this, in the latest form, was evidently advanced in February of this year and rejected by the Biden administration, which has determined to enter this conflict ever more openly. | ||
| Certainly there have been a covert presence. | ||
| You know, you would certainly expect the intelligence communities and SOCOM | ||
| to have a presence in Ukraine. | ||
| This is now expanding into, as you identified, essentially quote unquote technicians and others | ||
| as a way of a graduated escalation of this conflict of NATO's direct involvement, | ||
| direct involvement in this conflict, which is coming at a horrible time because to connect it, as the war in Ukraine is heating up, as Biden is rejecting Putin's armistice, the war is heating up, As Jim Finnell just identified, it's playing into Xi Jinping's hands on Taiwan. | ||
| Taiwan is obviously getting very hot. | ||
| Very quickly, as Jim identified, that's also escalation occurring at the same time. | ||
| So Biden is driving it in Europe. | ||
| Xi Jinping is driving it against Taiwan. | ||
| And can we meet these multiple threats? | ||
| Well, Ukraine is by choice. | ||
| Taiwan is being driven by Xi Jinping's aggression. | ||
| full-throated aggression and we're hard-pressed even in the best of | ||
| circumstances to deal with it as Jim identified. | ||
| Yeah, the higher Trump goes in the polls you watch the more aggressive China's going to get. | ||
| Folks got to understand, I asked Trent at this, we lose Taiwan, this country's going to go into a Great Depression like that afternoon. | ||
| We lose, the GDP will drop 25% because of the lack of advanced chips. | ||
| Dr. Thayer, your book warned us about this and tells us how we can get out of it. | ||
| Where can people get the book? | ||
| Where can they get your writings? | ||
| Jim Fennell and I wrote Embracing Communist China, America's Greatest Strategic Failure. | ||
| You can get it at Amazon or wherever you buy books. | ||
| And Steve, thank you very much for writing the foreword to it. | ||
| And then I met Bradley Thayer at Getter and at Truth and Brad Thayer at X. Thanks very much, Steve, for calling attention to this. | ||
| This is getting very hot very quickly. | ||
| Captain Finnell, I know you're not on social media, just give me a minute at the end of how dangerous is this situation in Taiwan right now for the American people, not just the Taiwan people, but for the American people? | ||
| If Taiwan falls, Steve, as you said, it will dramatically alter our economy. | ||
| It's not just that China wants Taiwan. | ||
| They don't want to stop just at Taiwan. | ||
| They have global aspirations, and Xi talks about global security initiatives, global development initiatives, global civilizational initiatives. | ||
| Their belief is that their restoration to the rightful place under the sun is to be the global superpower. | ||
| They're not just going to stop at Taiwan, and it's going to unleash holy hell out there, because they won't stop at the Taiwanese. | ||
| Japan will be next, Hawaii certainly, and then the West Coast. | ||
| They're underwriting the Mulas in Persia, and they're underwriting the KGB in Moscow. | ||
| Captain Fennell, eventually we'll get you on social media somehow. | ||
| We'll have Dr. Thayer work with you. | ||
| Thank you. | ||
| Fantastic book. | ||
| Great warning. | ||
| And Fanel's a hero because he gave his career up to warn the American people about this, and it's all come true. | ||
| We'll be all over this weekend, this situation in Taiwan that we've warned people about. | ||
| Jason Trenner joins us, Chairman of Strategist. | ||
| Jason, before I talk about inflation, is Wall Street taking, because, you know, the lords of easy money and the tech oligarchs, they don't want to decouple. | ||
| Are they taking it seriously enough, sir, about the potential fall of Taiwan? | ||
| I don't think so. | ||
| I could just tell you no one's talking about it. | ||
| I spend my days traveling around the country talking to institutional investors and I think in many ways quantitative easing lulled both investors and policymakers into a false sense of security about inflation, about interest rates, and I think that's also extended to geopolitical concerns. | ||
| I think generally speaking there's a feeling that we're I don't want to say bulletproof, but whatever problems that come our way, the Fed will fix them in some way. | ||
| I can't remember the last time I talked to an institutional investor who talked seriously about the possibility of China taking Taiwan. | ||
| Hang on for one second. | ||
| We're going to hold you through the break. | ||
| I want to get into this. | ||
| It's on the cover of the finest op-ed section. | ||
| Used to be the Wall Street Journal, not anymore. | ||
| It's the Washington Times. | ||
| Inflation is settled as an election issue. | ||
| President Biden has lost reelection bid. | ||
| And this is from Jason Trennant throwing bombs early on a Friday morning here. | ||
| Amazing piece. | ||
| We're going to take a short commercial break. | ||
| What we need, we need this audience at the ramparts. | ||
| That's where we have the most power. | ||
| One of the reasons we can't, we don't want you off the rampart. | ||
| For a slip-up. | ||
| HomeTidalock.com. | ||
| Go check it out today. | ||
| Slash Bannon. | ||
| Immerse yourself in information. | ||
| 90% of your net worth is tied up in your castle. | ||
| Don't let some cyber warrior with AI get their hands on it. | ||
| Home Tidalock will tell you how to defend yourself. | ||
|
unidentified
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Here's your host, Stephen K. Bannon. | |
| Okay, Jason, walk us through the theory of the case here. | ||
| You're saying the decades of quantitative easing and the mindset, the lords of easy money, got into a mindset and now that has impacted and just the modern monetary theory took hold and we're paying the price, but that the American people are revolting against it and you're saying that's what's going to end the Biden regime. | ||
| Yeah, listen, I think there are certainly the biggest issues in this campaign are inflation and immigration, and the point I make simply is that it's the cumulative effects of inflation over the last three years that make this all but settled as far as an election issue. | ||
| President Biden has lost this issue. | ||
| Inflation is not going to fall enough between now and the election | ||
| so that people feel differently about the Biden administration spending | ||
| and its role in the growth of inflation. | ||
| So that's the theory of the case. | ||
| And I'm not quite sure what could change that aside from an exogenous event that led to deflation, | ||
| but that wouldn't be good for an incumbent either. | ||
| So there's not a lot left to do it seems to me. | ||
| Donald Trump, I believe, has won this issue. | ||
| President Biden has lost it. | ||
| What steps, because you just saw the other day, they just wrote off everything on the student loans. | ||
| What other moves in the short term do you think they're going to try to do that will put us farther? | ||
| Because when you read your piece here in the Washington Times, and we'll send it out to everybody today, Grace and Mo and Carly Bonet hopefully over at Midnight Writer and others. | ||
| Could you make the case having what he's done today is putting us farther and farther behind the curve of actually coming up with a solution? | ||
| What additionally think they're going to try to do to juice the economy with devil catch the hindmost about the important things of inflation and debt? | ||
| Yeah, well, Steve, as you know, all presidents want to get reelected. | ||
| All presidents try to grease the skids and and maneuver the levers of government to get reelected. | ||
| But I would say President Biden and the Biden administration have taken it to an art form. | ||
| And your friend of mine, Scott Besant, we were laughing. | ||
| This isn't Marcus of Queensberry Rules. | ||
| This is, you know, Worldwide Wrestling Federation type stuff. | ||
| We released oil from the Strategic Petroleum Reserve earlier this week. | ||
| That Strategic Petroleum Reserve is at its lowest level since 1983. | ||
| We are running budget deficits that are 7% of GDP, something we've never done when the unemployment rate was below 7. | ||
| It's now below four, so we're spending money as if we're in recession when we're not. | ||
| We're also, we're also sending out employee retention tax credit checks again. | ||
| We've, we have taken $160 billion of student debt and canceled it, which is, it's, of course, debt is not canceled at all. | ||
| It just gets put on the, on the backs of taxpayers. | ||
| And then Janet Yellen, who I think, unfortunately, is embarrassing herself as an economist now, I think she was a very, I think she was a good chairman of the Federal Reserve. | ||
| I think she's a very poor Treasury Secretary. | ||
| But she has also stopped issuing long-term debt, largely, and issued much more short-term debt bills instead of coupon debt at tenure. | ||
| So issuing a lot more, a third of our debt, matures in the next year. | ||
| So all of these things are going to make it harder post-November. | ||
| to get to right the ship and certainly all this makes it much harder to fight inflation. | ||
| There is absolutely no coordination between fiscal policy and monetary policy right now. | ||
| I've not been a huge fan of the Powell Fed in some ways, but they are trying, but they're | ||
| getting absolutely no help from the administration. | ||
| What about you've got now finally Jamie Dimon and guys are coming out and saying, hey, you've | ||
| got the money but you get this fiscal insanity. | ||
| You just can't keep doing that. | ||
| Is Wall Street at all worried? | ||
| You just dropped a bomb here by saying, hey, you go around the country and they don't even think about Taiwan. | ||
| If Taiwan fell, We'd go into a Great Depression immediately. | ||
| I mean, the advanced chip design, and you can start all the factories you want in Japan, you can try to do down in Phoenix, and that's fine. | ||
| That's going to take a decade. | ||
| Because the chip design and manufacturing is both a science and an art. | ||
| Okay? | ||
| Of course. | ||
| You just can't move this stuff over immediately. | ||
| You're saying they're not even thinking about that. | ||
| The big thinkers aren't even thinking about that. | ||
| Where are they coming out on this 7% of GDP and the Fed completely being accommodating all the time? | ||
| See, you know, Steve, this gets into modern monetary theory because there's a bread and circuses element of the policies that have been pursued for a long period of time, which is to say, if you can keep the stock market high enough, people forget about things that are really important or whether they're sustainable. | ||
| And in my opinion, that's what's happening right now. | ||
| People understand this isn't sustainable. | ||
| But as we talked about, Janet Yellen in late October of last year stopped issuing 10-year Treasuries and started issuing a lot more bills. | ||
| That brought 10-year Treasury yields down from 5% to 380 by the end of the year, and whatever discomfort that created for the stock market faded very, very quickly. | ||
| Again, there's a certain element of just doing things just to get from one day to the next. | ||
| It's working. | ||
| It's lulled people, I think, into a false sense of security. | ||
| It is hard to go into recession when you're running budget deficits this high, but I will say there is a cost to avoiding a recession at all costs, and that is higher inflation. | ||
| And that's what we've tried to develop with this common man CPI. | ||
| Look, if you took the, which is right on the cover of this, everybody's got to read the article, if you took out the spending, it wouldn't be the 1.6% anemic growth, we'd already be in a recession. | ||
| When you talk about real stuff and talk about real growth, where's the real growth coming from, it's not, I think the federal government, it's the 25 or 35% of all jobs created, just federal jobs, government jobs. | ||
| That's right. | ||
| And government-adjacent jobs. | ||
| No, I would say, and also government-adjacent jobs, which is health care, education, a lot of things that are subsidized. | ||
| It's a fancy way of saying that the subsidized industries are where a lot of the growth is happening. | ||
| From the spending. | ||
| We talked, we had Kevin Finnell and Dr. Theron here talking about really the national security or military part of the post-war international rules-based order. | ||
| That's now coming under pressure and obviously the third world war started and you're getting into the kinetic phase. | ||
| But the underpinnings of that order is Bretton Woods. | ||
| The BRICS nations are actually, because I tell people, hey, all these BRICS nations, presidents and treasury guys, they all went to Chicago or Sloan or they got an HP-12C and they have very bright young people working around them. | ||
| They can do net present value. | ||
| They're actually, they're the logical actors in this, aren't they? | ||
| Because these central banks are looking to buy more gold or resources to back up and they're trying to figure out They've got to get a system. | ||
| It's going to be very imperfect. | ||
| It's going to take a while. | ||
| But they understand the elites, particularly the financial elites in the West, are on this crazed mission around modern monetary theory. | ||
| And they want to opt out. | ||
| And they're going to opt out by creating some sort of alternative to the dollar. | ||
| Do you agree that they're the rational actors here? | ||
| I think so. | ||
| I don't think, listen, I think the chance of the U.S. | ||
| losing the reserve currency status among fiat currencies is very low. | ||
| And that's simply because of inertia. | ||
| It's on about 90 percent of every pair trade versus currencies. | ||
| But the dollar has lost an enormous amount of money versus gold in the past 10 years. | ||
| Federal debt is up 97 percent. | ||
| Gold is up 94% versus the dollar. | ||
| So you've lost about half your purchasing power versus gold as an American who holds their wealth in U.S. | ||
| dollars. | ||
| And so we're already losing value. | ||
| And it seems to me there is no divine right to reserve currency. | ||
| Countries always lose the reserve currency in the same ways. | ||
| It's through bed and circuses. | ||
| It's through foreign adventures. | ||
| It's basically by thinking it is a divine right to have the currency, and therefore it becomes abused. | ||
| It's the exorbitant privilege. | ||
| And that's why there's nothing modern, as I said, about modern monetary theory. | ||
| It is as old as humanity itself, and it always leads to the same awful outcome, which is to make people poorer. | ||
| The road to serfdom. | ||
| Jason Trennert, where do they get your piece and where do they get Common Man, CPI, everything you do over at your funds, where do people go to get you? | ||
| Yeah, sure. | ||
| So www.strategusetfs.com and then my Twitter handle is at Jason Trennert underscore. | ||
| And those are the places you can follow us. | ||
| Thanks, Steve. | ||
| Fantastic. | ||
| I'm glad the Washington Times got on this because it was magnificent. | ||
| Really great piece. | ||
| Great charts. | ||
| Very simple to understand. | ||
| And according to Jason Trenner, President Biden has lost his re-election bid because the issue of inflation has been settled. | ||
| And hey, if you talk to those folks in South Bronx yesterday, they were 100% It's over. | ||
| And the inflation is killing them. | ||
| So thank you, sir. | ||
| Amazing. | ||
| Steve, and one more thing. | ||
| Just the poppy. | ||
| One of the things we've done at Strategus over the past 12 years is we've tried to bring the poppy back to the United States ahead of Memorial Day. | ||
| Obviously, it's very commonly used, ubiquitous in the commonwealth. | ||
| But it was actually a practice that was started here in the United States after World War I by University of Georgia Professor Moina Michael, became known as the Poppy Lady. | ||
| So we're trying to get people to wear poppies in remembrance of those fallen. | ||
| Where do people go to get this? | ||
| American Legion. | ||
| You just go to the American Legion website, and they'll sell you as many, and they're very inexpensive, but it's a very inexpensive way to show that you care for those that sacrifice so much for our freedoms. | ||
| Jason, amazing. | ||
| We'll send everybody over there, and thank you. | ||
| Great way to kick off a Memorial Day weekend. | ||
| Thank you, sir. | ||
| By the way, if Charlie can do it now, we'll do it now. | ||
| I thought it was at 5 o'clock. | ||
| Trying to get Charlie Kirk on about the People's Convention. | ||
| Remember, there's two conventions, the RNC convention, but there's a lot of action happening already. | ||
| The People's Convention is going to be in a couple weeks in Detroit. | ||
| We want to make sure Charlie gets up. | ||
| I thought it was 5 o'clock, but hey, who am I? | ||
| My traffic cops will tell me. | ||
| I don't think we could have done a better job on kicking off Memorial Day weekend. | ||
| With the top issues of the day in this fight, the 30 Front War. | ||
| The good news is with the summer starting, this is the official start, the semi-official start of summer. | ||
| You still haven't had, what is it, June 21st, I guess is the solstice, June to September, but traditionally it's Memorial Day to Labor Day, in an election year. | ||
| And better, but remember, one week from today, one week from today... | ||
| You're probably going to have reporting out the jury, right? | ||
| If not, it'll be early the following week, I'm sure. | ||
| And things will change. | ||
| Look, obviously, they're bogus charges. | ||
| Obviously, it's been a fiasco. | ||
| Obviously, with Cohen and all things, it's just a nightmare. | ||
| And in any other time, and first, I've never been charged, but President Trump would not just be exonerated, but would be praised for having gone through this. | ||
| The unfortunate reality of where we live with lawfare is that they're coming after President Trump. | ||
| The thing's totally gun decked. | ||
| You can see that's pretty obvious, but the jurors are going to come under incredible pressure. | ||
| That jury is not really a sequester. | ||
| It's not a jury that's not known. | ||
| There's enough information out from them, and they purposely Didn't have the closing arguments until Tuesday because they want the jury to go home and you know at the barbecues because people know who these people are now. | ||
| You know you've been missing work for the last four weeks on Wednesdays and and and and are only at work on Wednesdays and Fridays you're taking three days off for weeks and weeks and weeks. | ||
| So people know who they are and they want their they want their relatives and friends to work them over the weekend. | ||
| In in the New York left-wing environment The fever swamps of Manhattan. | ||
| If you're the one that helps hang Trump, you're a hero. | ||
| You'll be a hero for life. | ||
| Think of the pressure on those jurors, the one or two or three that might try to hold out, the pressure. | ||
| And to be out it, remember, the left is, they're Marxists, they're depraved. | ||
| There is no issue. | ||
| The only issue is the revolution. | ||
| They're depraved. | ||
| It's depravity. | ||
| These jurors will be under constant assault. | ||
| Can you imagine if you took your kids to public school and you were one of these jurors? | ||
| What would happen? | ||
| Well, that's what's going to gnaw on them. | ||
| And that's one of the reasons they're taking off for these four days to make sure these jurors get work. | ||
| Short break. | ||
|
unidentified
|
Back in a moment. | |
| Here's your host, Stephen K. Bamm. | ||
| Okay, packed today and over the weekend. | ||
| Tremendous shows tonight. | ||
| I'll be back here at 5 o'clock. | ||
| Charlie Kirk's going to follow us. | ||
| Charlie, I'm trying to talk Charlie into coming on the 5 p.m. | ||
| show to walk through the People's Convention. | ||
| You don't want to miss this. | ||
| It's going to be three days of just intensity. | ||
| We're also going to be doing some stuff with Kane, Citizen Kane. | ||
| We'll announce later. | ||
| So we've got all types of activities. | ||
| We'll have the show there. | ||
| Real America's Voice will be there. | ||
| Charlie follows us at noon, Charlie Kirk show, then Jack Posobiec and you can't with Taiwan and Ukraine everything happening. | ||
| You got to watch Posobiec, one of the smartest guys I know in this area. | ||
| Miranda Kahn, Tara Dahl back at four here on Real America's Voice and we're five to seven and really want to thank the Real America's Voice team for helping and they produce now the six o'clock show so really really thank those guys for that. | ||
| Josh, okay, so you see this thing in inflation, and it ain't stopping. | ||
| If you read Jason Trenum, remember, Jason is one of the smartest advisors to these hedge fund community, and they only pick the best. | ||
| That's why you've got to read this thing. | ||
| There's no slowdown coming in the spending. | ||
| Therefore, inflation is going to continue to increase. | ||
| The only way, and Warren Buffett told you three weeks ago at the Berkshire Hathaway Saturday shareholder meeting when he kind of, you know, goes and gives his Oracle of Omaha pontification. | ||
| Look, he's a smart guy, a very smart investor. | ||
| He said, hey, no political will to cut spending. | ||
| The only thing to do, the only thing to do is to, that you've got to, they're going to get raised taxes massively on the middle class. | ||
| And it's not going to come through the wealthy. | ||
| Josh Hanna here from Tax Network USA. | ||
| They're coming for blood out of the stone, sir. | ||
| What do you guys do to help protect people? | ||
|
unidentified
|
First and foremost, we make sure that we don't submit any documentation that the government isn't entitled to. | |
| So we work within the code and make sure that we keep our clients protected, you know, and effectively reducing, settling, resolving their tax matters. | ||
| So tell me, one of the things we're doing, we do this what they've done with dead guys and credit cards. | ||
| You get the letter. | ||
| The worst thing, they give you notification. | ||
| There's two bad things you do. | ||
| Number one, just put it in the drawer and hope it goes away because it ain't going away. | ||
| Number two is actually call them right away and engage with them before you talk to anybody. | ||
| Is that the two things that you cannot possibly do? | ||
| You can't put it in the drawer because it's not going away, but you also just can't call them right away and get engaged with them, correct? | ||
|
unidentified
|
Exactly. | |
| You know, and this is a lot worse than any credit card company or any bank. | ||
| This is the IRS. | ||
| They're the strongest collection agency in the world. | ||
| Okay? | ||
| And when you call them, that treasury officer, although they might be nice, they might, you know, appear like they're looking to help you. | ||
| No, they're looking to collect. | ||
| They're looking to build revenue for the government. | ||
| They're looking to get you on the highest interest with failure to pay penalties, even when you're paying every month. | ||
| So you never want to waive your rights. | ||
| You don't want to get on the phone with your accuser. | ||
| And you don't want to pretend like you know the tax code. | ||
| You want a professional to call on your behalf and make sure that they know that they can't overstep their boundaries. | ||
| And like I said, give them exactly what they're entitled to. | ||
| So walk me through Tax Networks USA. | ||
| Where do people go to the site? | ||
| What do they do? | ||
| How do they engage with you guys to find out, hey, how you can help them? | ||
| How you can cap what they owe? | ||
| How you can stop the interest from accumulating? | ||
| All these horrible things that happen if you don't engage in the process. | ||
| It is a process, and that process you do have to engage in. | ||
| So where do they go? | ||
| What do they do? | ||
|
unidentified
|
So the best thing they could do is pick up the phone right now and call the toll-free number 800-546-1000. | |
| That's 800-546-1000. | ||
| When you get on the phone, it'll be a private consultation. | ||
| We'll run you through a series of questions that mirror the IRS's program. | ||
| We'll figure out what program is best for you. | ||
| There are some tax planning strategies we can put together to reduce your balances and future taxes that are owed. | ||
| But really, it's just picking up the phone. | ||
| If you can't pick up the phone right now, I think the best bet would be to go to tnusa.com, | ||
| fill out a secure form, set up a time for us to call, and we'll call you at that time | ||
| that best fits your schedule. | ||
| And the original consultation is totally free, right? | ||
| They call, it's a totally free consultation, the first one? | ||
|
unidentified
|
Absolutely. | |
| And sometimes, you know, that call can trail, you know, 30 or 40 minutes, depending on the complexity, and we don't charge for that first call. | ||
| So, completely free. | ||
| Perfect. | ||
| So, once again, website and phone number, where do they go? | ||
|
unidentified
|
1-800-546-1000. | |
| That's 1-800-546-1000. | ||
| They can call right now. | ||
| I have agents, you know, sitting, sitting, waiting for calls right now. | ||
| They'll take you through a brief consultation or visit TNUSA.com slash Bannon. | ||
| Make sure you put the slash Bannon so we know where you're coming from. | ||
| Yeah. | ||
| Thank you, brother. | ||
| Appreciate it. | ||
| Remember, the 10,000 IRS agents, they're not going after the wealthy, because the wealthy have tax lawyers, tax accountants, all of it. | ||
| They're coming after the middle class and the working class. | ||
| They're going to get blood from a stone come hell or high water. | ||
| Mike Lindell, to kick off a Memorial Day weekend, let's kick it off with some deals, brother. | ||
| People are waiting for you. | ||
| They're chomping at the bit. | ||
|
unidentified
|
Yeah, and everybody, you talk about the taxes, they're coming after my Minnesota employees | |
| now that are working from home just like they did before in these other states. | ||
| So they need your help. | ||
| They don't want them to work from home on commission. | ||
| We're giving the war room the biggest Memorial Weekend sales in history. | ||
| We still have our percale sheets for the box store canceled. | ||
| You can get the queen size for $26.98 and the king size for $29.98. | ||
| That's what the box store was going to pay me for. | ||
| There's no middleman. | ||
| You guys get them wholesale right to you. | ||
| And if you go now to the War Room Square on my pillow, we're running our mattresses this weekend for the War Room Posse and the mattress toppers. | ||
| There they are. | ||
| They're having a sale all weekend. | ||
| Up to 50% off. | ||
| $99.99 for the toppers. | ||
| And then the best beds you're ever going to sleep on. | ||
| All 100% made in the U.S. | ||
| of A. And we're going to run this all weekend for Memorial Weekend. | ||
| All these other specials here, there's free shipping options available on your whole order. | ||
| And take advantage, get those sheets. | ||
| They're probably going to be gone at this weekend, probably last weekend for that order. | ||
| $26.98 for the best sheets in history and $29.98 for the king. | ||
| So Steve, it's going to be a great weekend. | ||
| The War Room Posse is at our back. | ||
| Great weekend. | ||
| My employees in Minnesota, call them up now if you can with that 1-800 number there. | ||
| 800-873-1062. | ||
| Tom, we've got their back. | ||
| We're not going to let the IRS get to them. | ||
| Mike Lindell, thank you. | ||
| We'll see you this afternoon. | ||
| What a way to kick off Memorial Day. | ||
| MikeTeller.com, PromoCo, War Room, MyStore.com, PromoCo, War Room. | ||
| Get the best deals going. | ||
| Memorial Day weekend's here. | ||
| The official kickoff to summer. | ||
| We're going to have our special Memorial Day special on Monday with Patrick K. O'Donnell, where we honor America's war dead. | ||
| Tomorrow we're going to have also a special. | ||
| You're going to love it. | ||
| But what a way to kick it off about politics today. | ||
| President Trump, show a force of full flex in South Bronx. | ||
| We're on offense in MAGA. | ||
| Attack, attack, attack. |
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