July 3, 2024 - Bannon's War Room
48:56
Participants
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| Speaker | Time | Text |
|---|---|---|
| From the southern border, a Department of Homeland Security official tells NBC News migrant crossings have dropped to their lowest monthly numbers since President Biden took office. | ||
| The DHS official says last month 84,000 migrants were apprehended at the southern border. | ||
| That is the same month the Biden administration announced new asylum restrictions. | ||
| This is the fourth consecutive month of declines. | ||
| It's also a 16% drop from June of last year. | ||
| 16% drop from last year, because my question would have been, isn't this kind of the slower time of the year when it gets so hot that it becomes physically dangerous in a heat way to make this journey? | ||
| But when you're looking at the numbers this year to last year, this does suggest something regarding Biden's moves at the border is working. | ||
|
unidentified
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Yeah, and I also have to point out, Katie, that yes, they do start to slow down because of the heat, but last June was significantly lower than May because of a new policy that had just gone into place at the border. | |
| When Title 42 ended in the end of May of last year and those new asylum policies went into effect, we saw a steep decline then. | ||
| Now it's fallen even further. | ||
| This is now the lowest it has been since January 2021, the month that Biden took office. | ||
| So we're going to hear a lot of victory laps, a lot of people in the Biden administration saying, look, this is because even without Congress, the Biden administration was able to put in new policies that raised the bar on asylum for people who crossed the border illegally. | ||
| Those are people who are not coming through ports of entry, people who aren't making appointments through the app. | ||
| That means that they think that this is working. | ||
| I will say, however, there are some other factors. | ||
| You point out the heat. | ||
| We also understand there's been a lot of rain and the Darien Gap leading from Columbia into Panama that has made some people unable to make that journey. | ||
| It's so muddy and treacherous inside that dense, dense forest. | ||
| As we've reported here, even before that policy went into place, Mexico has begun tripling | ||
| the interdictions of U.S.-bound migrants coming through Mexico, and that's because of increased | ||
| cooperation between the U.S. and Mexico over the issue of immigration. | ||
| Also, things like fentanyl, arms trafficking, and other things both countries care about. | ||
| But all of that is contributing to this lower number. | ||
| We also have to see if perhaps as the weather cools down, if those numbers come back up. | ||
| Some might say it's too early to really say whether or not this new policy is 100% effective. | ||
| This is the primal scream of a dying regime. | ||
|
unidentified
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Pray for our enemies. | |
| Because we're going medieval on these people. | ||
| I got a free shot on all these networks lying about the people. | ||
|
unidentified
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The people have had a belly full of it. | |
| I know you don't like hearing that. | ||
|
unidentified
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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. | ||
| And where do people like that go to share the big lie? | ||
|
unidentified
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MAGA Media. | |
| I wish in my soul, I wish that any of these people had a conscience. | ||
|
unidentified
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Ask yourself, what is my task and what is my purpose? | |
| If that answer is to save my country, this country will be saved. | ||
|
unidentified
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War Room, here's your host, Stephen K. Bannon. | |
| Dave Brat in the War Room sitting in with Stephen K. Bannon this day before the 4th of July, | ||
| Year of Our Lord 2024. | ||
| In honor of Stephen K. Bannon, I said I'm going to start every show in the name of the Father, the Son, and the Holy Spirit. | ||
| Steve has behind him the sign of the cross. | ||
| So it's an honor to sit in. | ||
| We had a great day yesterday and the day prior on the war room with the posse, breaking huge news. | ||
| A lot of politics in play. | ||
| We're going to get to a ton of stories today. | ||
| We're going to cover a lot of geopolitics, a little bit of finance and economics at the end. | ||
| But first of all, we're going to go to one of the heaviest hitters on Capitol Hill when it comes to immigration, Rosemary Jenks. | ||
| Who is now at the Immigration Accountability Project. | ||
| So if you want to go check them out now while we're talking online, IAProject.org. | ||
| And Rosemary, why don't you start off, tell us about what your project is. | ||
| I think the accountability piece is what's been missing. | ||
| So welcome to the War Room and thanks for coming on. | ||
| Thanks, Dave. | ||
| It's always great to be on The War Room. | ||
| And all of us at IAP are praying for Steve while we continue this fight for our country. | ||
| And the fight for our country depends on holding people accountable. | ||
| We have to hold politicians accountable, whether that's the Biden administration, DHS Secretary Mayorkas, who's already been impeached, all members of Congress. | ||
| They all need to be held accountable for their actions on immigration. | ||
| And we intend to do that and hope that the Posse will support us. | ||
| Great. | ||
| Rosemary, let's start off at the highest level, the most simple. | ||
| We had Chevron pass this week. | ||
| We're not going to unpack that. | ||
| We've had legal experts cover all that. | ||
| But let's just go over the basic, most simple question about illegal immigration. | ||
| Just because the president does an executive order, does that change the status? | ||
| Are the folks coming across the border? | ||
| What is the number now? | ||
| It's somewhere between 15 and 20 million, my latest count I've read. | ||
| How many people are coming across and are they legal or are they illegal and why? | ||
| They are illegal. | ||
| They're coming in basically two ways. | ||
| Some of them are just coming illegally across the border as entry without inspection, being apprehended, and many of them are still being released into the United States, which is a violation of the law. | ||
| There's also what is called parole, which is actually an abuse of the law, so they are not actually legal because it's purely an abuse of the law. | ||
| Parole is not allowed on a categorical basis, but impeached Secretary Mayorkas is applying it in a categorical basis. | ||
| by nationality and by allowing people to fill out the CBP One app and make an appointment | ||
| at a port of entry. | ||
| So essentially, he's diverting illegal border crossings between the ports of entry to the | ||
| ports of entry, and then letting those people come in and get a work permit and stay in | ||
| the United States under sort of color of law, so quasi-legally. | ||
| But yes, I mean, this is illegal immigration. | ||
| And one of the things that's really important to point out is that the apprehension numbers have actually dropped in May. | ||
| And the bulk of the reason for that is that Mexico has actually been doing a better job securing its northern border than we have been doing securing our southern border. | ||
| So remember Mexico has a very significant interest in what happens in this country in November. | ||
| So they have a strong incentive to cooperate with the Biden administration and make sure that those numbers come down so that the Biden administration can claim victory. | ||
| But the fact is that those illegal aliens, a large number of them, are being diverted to the ports of entry so that the Biden administration can pretend that they're coming in legally rather than illegally, which they are not. | ||
| So, the House Judiciary Committee actually just today released a report that says that the Biden administration has released 5.3 million illegal aliens into the United States. | ||
| Now, remember, the number of encounters is much larger because some of them actually are turned away, thankfully. | ||
| So, 5.3 million released into the United States. | ||
| Plus another 1.9 million known gotaways. | ||
| So those are the people who Border Patrol has found their footprints or they've been seen on cameras or sensors or whatever, but they have not been caught. | ||
| So that's over 7 million illegal aliens that this administration is responsible for putting into the United States. | ||
| That doesn't count the unknown gotaways. | ||
| Which, you know, who knows how many of those there are. | ||
| And it also doesn't count the number that he is unlawfully paroling in through the ports of entry and through the airports, for that matter. | ||
| He's letting inadmissible aliens fly directly into the United States and handing them parole and a work permit, which is completely unheard of and nowhere in the statute. | ||
| Great. | ||
| If you were advising the President of the United States, say the incoming, say President Trump wins. | ||
| All political views are just my own. | ||
| What would you tell him are the two most egregious policy problems from the past administration that need to be corrected? | ||
| And then what would you tell him are the two most egregious harms that have been inflicted upon the American people because of immigration? | ||
| So an incoming President Trump would actually know exactly what to do in this situation. | ||
| He would end the parole programs, just end them completely, terminate them, and he would reinstitute Remain in Mexico, which essentially ends the catch-and-release policy. | ||
| So those two things are absolutely critical. | ||
| You have to stop catch-and-release because they're coming here to get work authorization so they can send money home. | ||
| So if you prevent them from getting in, Prevent them from getting a work permit, then you're disincentivizing them coming in the first place. | ||
| So those are critical. | ||
| The Congressional Budget Office just, I think, last week came out with a report that it is going to cost U.S. | ||
| taxpayers $7 billion to make DACA recipients, you know, the Obama amnesty recipients, eligible for Obamacare. | ||
| That's only 530-some thousand people. | ||
| So just imagine what the cost is for education, welfare, medical care, transportation, criminal justice, all of that for the illegal aliens that the Biden administration has released into the United States. | ||
| You know, 530,000 DACA recipients versus at least 7 million released into the United States, plus the ones who were already here before the Biden administration took office. | ||
| Those are the amount of money we are paying hundreds of billions of dollars to pay for these illegal aliens who have no business being in our country. | ||
| So that is the biggest harm that's been inflicted on the American people. | ||
| And then, of course, we have Americans being murdered, raped, robbed, and otherwise victimized every single day by these illegal aliens. | ||
| We have new gangs being established in the United States. | ||
| It is obscene, the criminal activity that we are seeing, that is completely preventable had we not let these people into our nation. | ||
| Great. | ||
| In the debate, when asked about illegal immigration, President Biden went to the effect on the economy, implicitly trying to state that, you know, this cheap labor is good for the economy. | ||
| President Trump had a different tack. | ||
| And President Trump was also asked to weigh in on the fentanyl problem. | ||
| What is the total impact of fentanyl? | ||
| And then coupled with the fentanyl problem, the Chinese are basically doing a mini Belt | ||
| and Road down in Latin America, South America. | ||
| And I think there's even breaking news today. | ||
| Can you fill us in on this? | ||
| Fentanyl is not just a casual drug coming across, etc. | ||
| What is the damage of fentanyl, the network, and then some of the breaking news today? | ||
| Well, so, I mean, the Mexican drug cartels are importing the supplies to make the fentanyl from China, and China is willingly sending them over, and then the fentanyl's being made and shipped into the United States, and obviously killing massive numbers of Americans across the country in every community. | ||
| And we've seen, you know, accidental deaths, intentional deaths, Yeah, it's just the... In the tens of thousands, to be conservative. | ||
| In the tens of thousands, to be conservative. | ||
|
unidentified
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I think it's in the tens of thousands. | |
| Yeah. | ||
| Yes, yeah, right. | ||
| And the cartels and the CCP, obviously, are making huge amounts of money on this. | ||
| But what's interesting is that they're actually shifting their focus, the cartels, to human smuggling, as opposed to drug smuggling, because it's so much more profitable under the Biden administration. | ||
| So they can easily get the drugs across. | ||
| It's the human beings who are willing to pay the high values, like people with criminal backgrounds, terrorists, people on the terrorist watch list. | ||
| Those people are willing to pay the cartels big money to ensure that they get across. | ||
| So the cartels use diversion tactics by sending large groups of family members and Right, right. | ||
| children and so on across the border in one spot to draw the attention of the Border Patrol | ||
| so that those Border Patrol agents will call in others and they'll bring a bunch of agents | ||
| in from surrounding areas to process those illegal aliens while the cartels are bringing | ||
| the high value targets across a mile down the road. | ||
| So I mean, this is- Right, right. | ||
| Terran American- Right. | ||
| Tearing American families apart. | ||
| The human toll here is beyond comprehension. | ||
| Rosemary Jenks, you got about 30 seconds. | ||
| Immigration Accountability Project, IAProject.org. | ||
| How do people reach you? | ||
| What should they do? | ||
| You got about 30 seconds to fire. | ||
| We are going to, the whole time this border crisis has been happening, the House of Representatives, | ||
| the Republican House of Representatives just voted to fund President Biden's latest amnesty program. | ||
| So we have a lot of people to hold accountable and we are going to do that. | ||
| As Dave said, our website is iaproject.org. | ||
| You can reach all of our social media through that website. | ||
| You can donate through that website. | ||
| And we will provide you all the information you need about what is happening in the immigration issue. | ||
| Rosemary Jenks. | ||
| Rosemary Jenks, an American hero, patriot, fighting for you. | ||
| Thank you, Rosemary, for being on The War Room. | ||
|
unidentified
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Here's your host, Stephen K. Bannon. | |
| David Bratt with Stephen K. Bannon, Year of Our Lord. | ||
| Today we're going to connect a lot of dots. | ||
| We just had immigration with the great Rosemary Jenks, the Dorian Gap, Central and South America. | ||
| Now we're going to Colonel retired Mills, John Mills. | ||
| Colonel retired and he's going to give us a whirlwind liberal arts tour through the world, all the hotspots. | ||
| This is something in the Stephen K Bannon wheelhouse, connecting the dots, connecting the dots across the globe, connecting them to world news and eventually to how they will affect you. | ||
| And so, John, thanks for being on with us. | ||
| Can you please just lead us around through the hotspots? | ||
| Today that we face and then we'll get into why they matter to us in the second round. | ||
|
unidentified
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Yeah, absolutely. | |
| Thank you, Dave. | ||
| Dave, we're a world in conflict. | ||
| I mean, there are 14 at least regional conflicts going on that are that are hot right now. | ||
| They're raging combat or can they are smoldering and can burst into flames in a moment. | ||
| And it's all related to China and China's effort to take down America. | ||
| Everybody works for China right now in the world. | ||
| Every one of these regional conflicts, you can trace it back to China. | ||
| So let's go through the maps real quick here. | ||
| First of all, obviously, we're so Ukraine, we're aware of that. | ||
| But again, that was Russia is a colony of China. | ||
| This is really about this is Russia's contribution. | ||
| Now, at this point in time, essentially the ground war is a standstill, but we're giving long-range weapons and we're giving permission to fire over the border. | ||
| A map was just released publicly in the last few days by the Biden administration. | ||
| We are playing with fire. | ||
| This is extremely provocative. | ||
| And two can play this game. | ||
| So Jake Sullivan may think, aha, this is really clever and fun. | ||
| Sooner or later, Putin is going to take a shot. | ||
| And we're going to, where did that come from? | ||
| Well, two can play this game. | ||
| And this is extremely escalatory and provocative. | ||
| But we also have other things. | ||
| What's Russia's likely next move? | ||
| Well, I mean, I think one of the ways is pushing from Belarus and the land bridge right across to Russian sovereign territory in Kaliningrad, which cuts off Poland, covers Poland, some of Poland also. | ||
| The Baltic states of Lithuania and Latvia and Estonia. | ||
| So that's likely, in many ways, the next move. | ||
| Down here, now in the Middle East, kind of a different area, but again, part of the regional conflicts. | ||
| This is all China. | ||
| Iran is the major colony for China, waging the war. | ||
| So you had October 7th by Hamas, pre-planned, no question about it, years in the planning. | ||
| Iran worked very closely and Iran has a huge footprint. | ||
| Of China. | ||
| So Iran is a colony of China. | ||
| So October 7th, Netanyahu has not yet finished off Hamas. | ||
| They also started, well in April we had the huge volley of missiles back and forth to try and take out Israel. | ||
| That didn't work out very well and for Iran, but then you also down here you have the Bab el-Mandab, one of the most important choke points in the world. | ||
| All of that, the Houthis, that's all those are, they are agents of Iran. | ||
| Iran is a colony of China and they're attempting to choke off world shipping. | ||
| What does this have to do with us? | ||
| Maybe not a whole lot. | ||
| We don't get a whole lot, but when world supply chains are pinched, guess what? | ||
| The world starts getting into our supply chains. | ||
| But right now, the real action is Hezbollah in the north. | ||
| That's going to be a much more violent battle for Israel, but this is all Iran. | ||
| Hezbollah absolutely works for Iran. | ||
| So Hezbollah, Hamas, the Houthis, every one of those works for Iran. | ||
| Excellent. | ||
| So let's go a little closer here. | ||
| But in the Americas, this is very important. | ||
| The war is coming closer to America. | ||
| We got regional hotspots right here. | ||
| So the Wall Street Journal just came out with their map of the maps of the Chinese spy bases, which were much bigger. | ||
| We covered this I happened to be down in Key West, July of last year, and we covered this, and everybody was shocked. | ||
| Oh, my, the Chinese are in Cuba. | ||
| And Jake Sullivan goes, oh, yeah, yeah, they've been there. | ||
| It happened during the Trump years. | ||
| No matter what the question is, the answer is always the Trump years. | ||
| No, actually, back in the 90s, I found some articles about the Chinese spy bases in Cuba. | ||
| Nothing was done during the Clinton years. | ||
| But obviously we have the open borders, the fentanyl, and now it's not fentanyl anymore, it's nitazine. | ||
| Nitazine. | ||
| Far more powerful, far more potent, and the cartels work for China. | ||
| You have Chinese special operators directing the cartels. | ||
| This is where we need an authorization to use military force to make a life lesson or an example out of one of these Chinese cartel meetings. | ||
| Molino, down here in Panama, just took over. | ||
| He's a populist. | ||
| Just think of Bukele in El Salvador, Millet in Argentina. | ||
| We have a swelling rise of populists. | ||
| He just took office on Monday. | ||
| He's pro-American, whether the Biden team likes it or not. | ||
| Now, you had Mayorkas down there, led the delegation. | ||
| You had The Navy secretary down there also. | ||
| You had Aponte, the U.S. ambassador down there, who has really not been very helpful. | ||
| Molino and Panama want good relations with the U.S. | ||
| They want to be close to the U.S. | ||
| They don't want to be close to China, and they've got nothing but a cold shoulder from the U.S. | ||
| Now, Malino's very serious. | ||
| He is going to shut down the Darien Gap, and he's going to block the illegals and the Chinese. | ||
| And they just signed an agreement. | ||
| Now, this is what's concerning about the agreement. | ||
| When Mayorkas was down there, they said, OK, we'll fly him. | ||
| We'll fly him out of there. | ||
| We'll fly him where? | ||
| Are they going to fly him from Panama direct to the U.S.? | ||
| Or are they going to fly him from Panama back to where they came from? | ||
| Hopefully where they came from. | ||
| But again, we have taxpayer dollars in the Darien Gap. | ||
| So you also have the potential war going on here imminently. | ||
| Venezuela They've been told they better start doing something and delivering to the boss in Beijing. | ||
| So a lot of the action is going to be over the oil fields off into the water areas. | ||
| Not really on the ground, because they don't really have good maneuver. | ||
| They don't have good roads. | ||
| It's really the undeveloped oil and gas in the Caribbean Sea. | ||
| That's where the action is going to be. | ||
| So there's that. | ||
| Over to Asia. | ||
| Well, obviously we've got Taiwan. | ||
| We're going to talk about that some more in a moment, but a lot of the closest trigger that's going to set off the kinetic phase of World War III... Yeah, about two minutes left, Colonel. | ||
| About two minutes left for Asia. | ||
|
unidentified
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Okay, but you also got what's going on. | |
| You got a new naval base right up here for China. | ||
| China's got a new naval base right on the Tumen River that separates North Korea and Russia. | ||
| This allows them to get out past Japan and South Korea. | ||
| So very concerning. | ||
| And then the big issue really that's going on, this is the second island chain, Palau, Which is friendly to the U.S. | ||
| The president, there's 18,000 people. | ||
| The Pentagon has more people than Palau. | ||
| And President Whips is saying, I need some help. | ||
| They're going to try to throw the election, throw me out, which means they're going to throw out America. | ||
| Down here, the Solomons have already fallen. | ||
| They've already fallen behind the Iron Curtain. | ||
| And we've sat around and stared at and not done a whole lot. | ||
| Now the violent, deadly uprising in French New Caledonia, you better believe there's Chinese fingerprints on that. | ||
| So that's, they've already bypassed in many ways, bypassed Taiwan and flanked, gone around the flank of the second island chain. | ||
| Colonel Mills, I cannot thank you enough. | ||
| That was a masterful presentation. | ||
| Put very briefly, as you briefed the leaders that run our country on the geopolitics, if you had to assess why it is that President Trump had so much success in the last term, we had peace and prosperity, and how now we have 14 Fires burning, four big wars brewing right now that you just covered. | ||
| What is the fundamental difference in policy that's taken place that makes us so vulnerable right now? | ||
|
unidentified
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The Biden-Obama team don't get it. | |
| Even with their Belfer degrees, they don't understand what's going on here. | ||
| Foreign partners, they love clarity, they love resolve, and they love authenticity. | ||
| None of those three words are ever used to describe the Biden-Obama team. | ||
| They see there is nothing authentic, there's no clarity, there's no resolve. | ||
| Our U.S. | ||
| ambassador should be the tip of the spear on this, and all they do is throw up violent transgender flags. | ||
| Oh no, they've taken them down. | ||
| Excuse me. | ||
| They've taken down the violent transgender flags. | ||
| But they don't they just this leading from behind, you know, no, they want leadership. | ||
| They want expression that we care about them, that we're involved and we have skin in the game because they have skin in the game. | ||
| This is their turf. | ||
| They want to know they have America's back with the Obama Biden team. | ||
| They get no clarity, no resolve, no authenticity. | ||
| So they just well, the Americans are not on the playing field. | ||
| They're not in the game. | ||
| They obviously don't care. | ||
| We're on our own. | ||
| Yep, and your thesis in closing here, about a minute to go, tell folks how to reach you. | ||
| But China, behind most of the 14 points of fire around the globe you just showed us, what should our policy be? | ||
| What markers do we need if we were in power right now and you wanted to play hardball? | ||
| What markers do we put down with China to clean things up? | ||
|
unidentified
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Well, it's all about trade and economics and finance with China. | |
| Again, the Biden team seems to be financially and economically illiterate despite their Belfer degrees. | ||
| They don't know. | ||
| They don't have a clue. | ||
| They never run anything except for their mouths. | ||
| And so they don't understand. | ||
| They're functionally illiterate. | ||
| So Navarro knew how to do this. | ||
| Trump knew how to do this. | ||
| That's where it's really going to get China's attention is cutting off the finances. | ||
| This is what it's all about. | ||
| We have to continue to build up our diplomacy, our military and our intelligence. | ||
| We have to show interest. | ||
| We have to show we really care about our strategic partners. | ||
| We're not just aloof and we're just kind of managing the decline of the United States. | ||
| How do folks get to you, Colonel, to follow this? | ||
| I recommend every parent take this segment, show it to their kids until they get it. | ||
| Colonel, how do folks get to you? | ||
| Real quick, 10 seconds to go. | ||
|
unidentified
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Colonel Rhett John, Colonel R.E.T. | |
| John, Substack, Getter, and Truth. | ||
| Colonel Rhett John, Substack is the best place. | ||
| Yep, brilliant presentation, Colonel. | ||
| Thank you. | ||
| Thank you for your service to our country. | ||
| God bless you. | ||
| Stick with the war room. | ||
| Back in a minute. | ||
|
unidentified
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War Room. Here's your host, Stephen K. Bannon. | |
| Dave Bratton, War Room, with Stephen K. Bannon. | ||
| Great show, packed wall-to-wall. | ||
| Geopolitics, no one can do what Steve Bannon does, but he's accumulated a bunch of powerhouses that step in with their expertise. | ||
| We've just had experts on immigration. | ||
| Then John Mills, just a masterful tour de force around the globe. | ||
| 14 hotspots. | ||
| And now we have Dave Walsh, the War Room energy expert. | ||
| And so Dave, if you want to bring us up to speed on the latest in energy policy, what | ||
| the Biden administration has wrought, what the Trump solution could be, and then tie | ||
| that into some of the hotspots you see around the world. | ||
| How is energy tied into our geopolitical strategy? | ||
| And why are we paying such a price now? | ||
| And how can we get out of it? | ||
| Dave Walsh, take it away. | ||
| Dave, thanks for having me. | ||
| You know, this week we had the announcement by the administration, their latest move to, you know, put a shiny object out to attempt to win an election by appearing to do something for the American people on the price of gasoline at the pump. | ||
| Announced the basically the abandonment of the strategic gas reserve in the Northeast. | ||
| 10 million barrels or 42 million gallons of gas are going to release program programmatically. | ||
| They're saying release. | ||
| It means sell. | ||
| These are sold off. | ||
| We'll have no longer a gas reserve, which was meant for a repeat of something like Sandy that occurred a couple of years ago, or a military event that we need to support. | ||
| We'll no longer have a gas reserve in the Northeast for gasoline. | ||
| And what that amounts to, 42 million gallons, we consume as a country 376 million gallons a day. | ||
| 42 million gallons is 11% of one day's consumption of gas in this country, so we'll have an absolutely nominal to nil effect on pricing, even though they're broadcasting the shiny object that it will. | ||
| But I will remind everybody, and this is where we gotta keep our guys honest in the Rhino camp. | ||
| We had, back on March 22nd, 101 Rhino congressmen vote for this. | ||
| Inside the bill to keep the government open and the budget, and a majority of our Republican senators voted for, you know, the keep the government open bill that included this as a line item selling off the gas reserve in the Northeast. | ||
| Just saying. | ||
| So the Republican hands are dirty with this also. | ||
| We have got to educate our RINO candidates and our RINO representatives on how energy works and how it's being used against the American people. | ||
| We've still got to work on that. | ||
| Globally, some shocking news through Reuters in the last few days. | ||
| Russian pipeline gas coming into Western Europe has advanced by about 23% in June, over June of last year. | ||
| In May, it was up about 31% for May of last year. | ||
| So Russian pipeline gas is finding its way back into Western Europe. | ||
| The entire time of this conflict, LNG has risen from Russia to Western Europe. | ||
| LNG was a loophole in the boycott of Western Europe against Russia. | ||
| It wasn't included. | ||
| It was 13% of the LNG. | ||
| A year ago, it was now 17%, nearly 18% of the LNG being bootlegged into Western Europe is coming from Russia to our supposed allies in this Ukraine activity. | ||
| Again, proving that they're not really allies and Western Europe not really doing much in the way of support to the $180 billion we've thrown into | ||
| that conflict. | ||
| And also see- Go over that one again. | ||
| Hey, Dave. | ||
| Dave, go over that one again, just the conclusion, the bottom line. | ||
| So Europe to Russia energy implication for the United States. | ||
| Go over that. | ||
| Just at the crass level, what's the bottom line there? | ||
| Where do we stand? | ||
| Well, we know, we export, 47% of the LNG coming into Europe comes from here. | ||
| Put some pressure on our gas prices although they've been low. | ||
| Natural gas prices generally last year have been low. | ||
| But also oil crude and refined product ranges from a million eight per day to two point five million barrels today. | ||
| Are exported from the US into Western Europe to augment the loss of crude oil from Russia into Western Europe, which does have a an effect on boosting prices here. | ||
| And that's what folks are seeing at the pump. | ||
| You know, we're up to generally averaging about 375 380 across the country in gas at the pump. | ||
| And this is we've had about 17% uptick in Brent crude and West Texas intermediate pricing in the last in the past year. | ||
| Due to largely heavier exports occurring into Western Europe for us to support their lack of oil coming from Russia, but I'm saying at the same time, LNG and natural gas continue to come into Western Europe from Russia in significant quantities. | ||
| So, kind of contradicting the complaints of the Europeans that they're helping us through being restricted on energy supply, they continue to import rather large quantities of LNG, about 18% of what they import comes from Russia. | ||
| And a very large portion of their pipeline gas in the last two months is coming again from Russia. | ||
| So they're not not great supporters of this war effort. | ||
| The Western European so-called allies. | ||
| Right. | ||
| We we've got about 100 billion now per year that we're exporting into Western Europe. | ||
| Coal is doing a half billion natural gas but 40 billion per and oil ballpark 50 billion in monetary value of exports into Western Europe. | ||
| You know, with this with this Ukraine activity, restricting supply there and their own decisions in Western Europe, in the Groningen gas field in Holland, in the North Sea by the UK and Scotland, the UK in terms of banning fracking and the Germans in terms of Lower Saxony, where plenty of natural gas exists to not harvest their own resources, continuing and lots of lots of exports from the US, but for saying their own lack of ability, willingness You can finish up on Europe, but I'm also interested in Colonel Mills. | ||
| Everything's coming from China. | ||
| That was a thesis statement, no matter where you are. | ||
| Middle East, Europe, Latin America, fentanyl, China, the second island chain, everything. | ||
| Where do we stand? | ||
| You've been great on that over the years. | ||
| The horn around India, the sea routes, China is highly, got some severe problems there in terms of their own internal energy needs. | ||
| What is that looking like now? | ||
| Does that impact their planning on Taiwan? | ||
| Are they still vulnerable around those sea lanes in terms of getting the energy they need? | ||
| Or can they be cut off if they play hardball? | ||
| No, in the longer run, but this is probably a couple of years out, these construction projects being concluded. | ||
| They've agreed with a pipeline from Siberia coming into China as part of their new alliance with China in the last two years that Biden has forced together, very unfortunately. | ||
| The Belt and Road Initiative with Iran and Iraq have generated plans for pipelines, which again, pipeline natural gas is far cheaper than LNG. | ||
| We were a major exporter of LNG to China, but it's very expensive. | ||
| The liquefaction and deliquefaction transport of it puts a massive premium on gas, but when | ||
| it's pipeline based, it's far, far cheaper. | ||
| So they've kind of got that resolved between Iran, Iraq, and Russia, moving more direct | ||
| pipelines into China, but that's going to be three, four years away. | ||
| In the meantime, they have bought out virtually all of the boycotted supply of oil into Western | ||
| Europe, which was about three million barrels a day. | ||
| China consumed two-thirds of that now, that delta, India about one-third of it. | ||
| So China's resolved in oil supply for the time being. | ||
| See restrictions on energy right now being an impediment to aggressive actions they may take in the Philippines and in Taiwan. | ||
| I'm not there. | ||
| They've done a very good job of it. | ||
| Also they've done what we never did. | ||
| They challenged OPEC by going ahead with Iran and Iraq on deals to buy oil from them for 20 years at Brent crude minus 40 percent. | ||
| So they're presently enjoying about fifty two dollar per barrel oil from Iraq and Iran where the rest of the world is Spending 86, 87 bucks a barrel on Brent Crude or 82 bucks a barrel on our Permian West Texas Intermediate Crude. | ||
| So they're on a cost basis. | ||
| They're massively resolved on energy cost issues. | ||
| And of course, they've got 400 coal plants under permit and under construction being built in China as we speak while they make solar panels and lithium ion batteries for us. | ||
| So, you know, their energy picture is doing very much the opposite of what they're selling us in equipment. | ||
| Yeah. | ||
| Give us a 30-second tour de force on you and Steve have been great on U.S. | ||
| energy full-spectrum dominance. | ||
| But then give us a couple points. | ||
| What would you advise President Trump when it comes to this geopolitics? | ||
| In terms of getting Europe to behave themselves, any partnerships we still have at the end of this current administration, how would you advise him to pull together the world in addition to the US getting our own house in order? | ||
| Dave. | ||
| Well, we can, you know, a lot of this political activity in Germany, Austria, England and France with Macron do relate heavily to energy costs in Europe and the people standing up against exorbitant energy costs that they've now experienced. | ||
| And the nakedness that's been exposed by Russia invading the Ukraine over here to support this and the move to be reactive to people and what people need to live and to have industry and commerce and jobs. | ||
| Incentivization of solar wind battery storage needs to end. | ||
| Incentivization of nuclear power needs to end. | ||
| We don't need to incentivize any particularly inefficient resources such as time constrained wind and solar. | ||
| to buttress our economy. | ||
| We need full-stop, all-in, competitive, on an economic basis, negative incentives, again because incentives ruin fastidious behavior and people being efficient. | ||
| When people don't see the real cost of energy, such as being hit by 30-40% incentives on wind and solar, they're not inclined to be efficient. | ||
| This was one of the hallmarks of creating the DOE back in the Carter era, that people ought to be conserving, ought to be efficient. | ||
| Well, you can't be if you're hiding massive costs of solar, wind, and battery storage under incentives and to make that cost amassed over, but also importing virtually all of that equipment, particularly solar and battery storage, from China. | ||
| Who are supporting Russia in this cause in Ukraine and supporting what's going on with Hamas and Hezbollah very clearly. | ||
| And, you know, with the bellicose threats continuing on Taiwan and their intent to move on Taiwan, not if, but when. | ||
| So we've got to take strides for energy independence here. | ||
| We've got to. | ||
|
unidentified
|
Good. | |
| Dave Walsh, thank you very much. | ||
| Fit in perfectly. | ||
| Brilliant presentation following Colonel John Mills. | ||
| Seamless. | ||
| How do people reach you? | ||
| What should they be reading on energy policy, Dave? | ||
| Dave, thank you for what you're doing. | ||
| Can't believe we're in this situation watching our second senior presidential advisor imprisoned by these guys now with this penchant to take political prisoners. | ||
| We're all blessed that you're doing this. | ||
| We're thankful. | ||
| You can catch me now on X and, of course, Getter and True Social all at Dave Walsh Energy. | ||
| Thank you, David. | ||
| Good. | ||
| Thanks for the kind words, Dave. | ||
| God bless you. | ||
| All right. | ||
| Up next is E.J. | ||
| Antoni on... | ||
| Capital markets today, the Wall Street Journal, sudden return of the Trump trade sends treasuries reeling. | ||
| Not only the Wall Street Journal, it seems like the journalists aren't doing journalism anymore. | ||
| All about 10 major financial pieces all had similar headlines. | ||
| They're all kind of anti-Trump biased. | ||
| And they're putting things in technical terms that the average reader can't understand. | ||
| That's why we brought in E.J. | ||
| Antoni, the Heritage Foundation, the great economist of the war room. | ||
| And so E.J., is there, can you first of all just explain the thesis of what the Wall Street Journal is saying about what's going to happen to the bond markets? | ||
| If President Trump gets in, they accused him of causing, you know, more debt and more inflation. | ||
| And I think you and I probably have a different view of what the Trump presidency will bring in terms of economics. | ||
| E.J. | ||
| and Tony, fire away. | ||
| Well, Dave, let's not forget— Actually, you're going to have about a few seconds here, but let me just hold you over the break, E.J. | ||
| But tell us right now, how do people reach you so they can read you on this stuff ahead of time? | ||
| Sure, sure. | ||
| Best place to find me is going to be on X. The handle there is at real E.J. | ||
| Antoni. | ||
|
unidentified
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Good. | |
| Well, we're back with E.J. | ||
| Antoni, who's been a champion in the war room on all things capital markets. | ||
| And so hang with us over the break and please spread the war room with all your friends. | ||
| Spread all the platforms, including E.J. | ||
| Back in a minute. | ||
| Here's your host, Stephen K. Bannon. | ||
| We have EJ and Tony in-house. | ||
| This has been a power-packed hour with geopolitics. | ||
| Stephen K. Bannon is usually here to connect all of the dots, but we appreciate the War Room and the willingness to spread this platform to everyone. | ||
| Rosemary was great on the immigration piece, And then a whirlwind tour. | ||
| I hope you share that with all the young people out there. | ||
| They need to know about the world they live in. | ||
| Dave Walsh on energy. | ||
| And now E.J. | ||
| Antoni, we set you up with a Wall Street Journal piece today on the bond market. | ||
| Why don't you give a summary recap of what they're saying about President Trump expectations and then what free market economists and non-biased economists think the Trump presidency will bring the American people. | ||
| E.J. | ||
| Antoni, take it away. | ||
| Oh, certainly, Dave. | ||
| Thanks so much for having me. | ||
| And look, I think what people need to understand is the same folks who are telling you what a disaster another Trump presidency will be are the exact same ones who told you back in 2016 that the first Trump presidency was going to be a total disaster. | ||
| They said his tariffs were going to bring on inflation. | ||
| They didn't. | ||
| They helped onshore manufacturing. | ||
| They told you that by stopping illegal immigration, it was going to cause labor shortages. | ||
| It didn't. | ||
| It actually caused wages for American workers to increase and increase much faster than prices. | ||
| Exactly the opposite of what we've seen under Biden. | ||
| And we had a deep liquid treasury market, which basically just means it was very easy | ||
| for the treasury to auction off its debt. | ||
| That's important because when it gets difficult for the treasury to do that, the treasury | ||
| needs to offer more and more interest to bondholders in order to incentivize people to lend the | ||
| treasury money. | ||
| That's what's happened under Biden. | ||
| As the debt has exploded, as people have begun to doubt the Treasury's ability to actually repay this debt, which is a pretty real concern when you're talking almost $35 trillion in debt, all of a sudden interest rates have gone through the roof. | ||
| That's costing hundreds of billions of dollars more a year just in extra interest. | ||
| A lot of the Trump policies that he wants to re-implement, which he already did the | ||
| first time around, would cause, would essentially alleviate a lot of that stress on treasury | ||
| markets. | ||
| And so many of the indicators that these so-called prognosticators are pointing to today as a | ||
| sign that Trump is going to bring all kinds of devastation upon the United States are | ||
| actually just signs that the current administration is bringing that kind of financial Armageddon | ||
| today. | ||
| It's not a sign of things to come so much as a sign of what's actually going on today. | ||
| It's no coincidence that treasury yields, for example, are going up only a couple of | ||
| days after that same treasury had to borrow $100 billion in a single day. | ||
| I mean, it seems pretty easy to connect the dots here as long as you can just take off | ||
| your biased political lenses, I suppose. | ||
| Yeah, and E.J., a couple minutes to go, about a minute or two, and tell folks, I mean, just in the basic simplest terms, if people expect President Trump to return a roaring economy, does it make common sense to you that they're going to take money out of low-paying bond interest rates and put them into real investment, in the real economy again? | ||
| Thank God. | ||
| So give us your commentary on that for a minute or so, E.J. | ||
| David, this is such a great point. | ||
| Part of the reason why long-term treasuries are seeing interest rates rise is because when you loan the Treasury money for 10 years, it's tied up for 10 years, a whole decade. | ||
| And so if you expect that President Trump is going to come back into the White House Right. | ||
| and that he is going to restore very fast economic growth. | ||
| Do you really want your money sitting there at 2 or 3 or 4 percent when it could sit in | ||
| the stock market and get 5, 6, 7, 8 percent annual returns? | ||
| And so if the Treasury is again going to incentivize people to lend it money, it's going to have | ||
| to offer higher and higher yields to be competitive with that robust Trump economy. | ||
| E.J. and Tony, thanks for being in the house with us. | ||
| We're going to have you back often. | ||
| Great job today. | ||
| Everybody look them up. | ||
| Follow EJ and Tony. | ||
| We just want to put a plug in for Birch Gold. | ||
| When you see this instability of the past four years in the Biden administration, its economic impact, Please go to our good friends. | ||
| I'm friends with the Birch Gold crew. | ||
| Get their advice. | ||
| They want to talk to you. | ||
| Look them up. | ||
| Get their materials. | ||
| We don't give financial advice on The War Room, but we know that gold is a good hedge against risk. | ||
| And this world, as you've seen by this entire show, with 14 flashpoints around the globe, is full of risk. | ||
| It's our pleasure right now to bring in Catherine O'Neill. | ||
| Catherine, what do you got for us today? | ||
| Thanks so much, Dave. | ||
| It was great to be with you guys last week before Steve headed in. | ||
| So today we have our burger blowout, which is back by popular demand. | ||
| You guys ask for it all the time. | ||
| So we have a tab on our website, www.merriweatherfarms.com, War Room Posse, and you can find the burger blowout. | ||
| But the other thing I'm talking about today, Dave, is our subscriptions. | ||
| You probably know that we sell out of our products very quickly, like the War Room boss | ||
| cleaned us out last week. | ||
| So we really encourage you guys to sign up for our subscription program, | ||
| because then you can lock in a price, you get 15% off every single month, | ||
| and you can have a guaranteed supply. | ||
| So make sure to go sign up for a subscription. | ||
| We've included some more boxes in that program. | ||
| Super. | ||
| Super. | ||
| One more thing, if you don't want it every month, if it's too much, you can do quarterly, you can do every other month. | ||
| So there's a lot of options. | ||
| So go get the burger blowout now and sign up for a subscription because we're expanding. | ||
| Very good. | ||
| Catherine O'Neill, Meriwether Farms, go by and support the people who support the War Room. | ||
| Thank you. | ||
| And now we got another patriot. | ||
| You all know him, Mike Lindell. | ||
| Mike, what's the deal of the day? | ||
| I buy all your products personally. | ||
| What do you got? | ||
|
unidentified
|
Well, I promised Steve we would break records. | |
| As Mike Pillsbury, one of the biggest sponsors of the War Room, you guys should keep it going. | ||
| We have broke records the last few days. | ||
| Everybody go right now to the War Room Square on the MyPillow site. | ||
| You get a free, one of these free flag pillows for absolutely no purchase necessary. | ||
| We want you to check out MyPillow and we have the 4th of July sale. | ||
| This is a War Room exclusive. | ||
| This is what everybody's getting. | ||
| These are the Premium MyPillows, $19.98, King or Queen. | ||
| Doesn't matter the loft level. | ||
|
unidentified
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As many as you want this week. | |
| Let's get them. | ||
|
unidentified
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Let's break these records. | |
| You go to the MyPillow, you see there's the special on the pillows. | ||
| We also have our brand new product, the mattress toppers. | ||
| These are $149.98 for the Queen, $198.99 for the King, but you get a free set of sheets for them. | ||
|
unidentified
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If you don't like the chopper, you can return him for any reason. | |
| Call our operators 800-873-1062. | ||
|
unidentified
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Let's break the records for Steve, everybody. | |
| God bless you. | ||
| There's our patriot, Mike Lindell. | ||
| Please support Mike Lindell, my pillow. | ||
| They support The War Room. | ||
| God bless everyone listening. | ||
| Have a great 4th of July. | ||
| I'll be back with you soon. | ||
| Spread this platform for Steve Bannon. |
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