Sept. 20, 2024 - Bannon's War Room
48:34
Participants
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| Speaker | Time | Text |
|---|---|---|
| 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. | ||
| President Trump got a free shot at 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. | ||
| I know you try to do everything in the world to stop that, but you're not going to stop it. | ||
|
unidentified
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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. | ||
| We got a great show this morning. | ||
| Next couple hours, the first part of the show, I'm going to dig deep down into the story behind the story behind the story of the Fed 50 basis point rate hike and explain how it's consistent with what is called the political theory of the business cycle, a theory that goes back to 1972 and explains why in democracies there is a tendency for the party in power to jack up the economy in the weeks and months leading into an election in order to | ||
| Win that election, and then the year following, of course, you wind up with the hangover, recession, inflation, or both. | ||
| So I'm going to dig deep in that and really give you a little good backgrounder from my days in the White House about the most Incompetent and political Fed chairman since the days of Arthur Burns who Was appointed by Richard Nixon in 1970, but before we go there I also want to tell you at the bottom of the hour. | ||
| We're going to talk about About the Lincoln Project, one of the rhino bottom feeders that, as a special interest group, is trying to block the election of Donald Trump. | ||
| And there's really some sordid details behind the shiny penny that they try to portray themselves as. | ||
| So we'll get into that with Adam Milan. | ||
| He'll be up. | ||
| He's done a deep dive on this, and I think if your hair is not curly now, it might be after that. | ||
| In the 11 o'clock hour, and I'm referencing, of course, Eastern Time, because that's where we are here in the War Room right now. | ||
| We will have a good sit-down. | ||
| He'll be in studio with a gentleman named Steve Lance. | ||
| I've known the guy for years, loved the guy. | ||
| He is the major driver at the TV wing of the Epoch Times. | ||
| It's the new Tang Dynasty. | ||
| Quietly, the Epoch Times has become the fourth largest newspaper in America by subscriber base. | ||
| It's only behind the New York Times, the Washington Post and the Wall Street Journal in terms of subscribers. | ||
| And I remember decades ago when I first saw the paper, It was nothing more than a curiosity, but now it has really emerged as an important voice here in this country and across the world. | ||
| It's astonishing how far a reach it has. | ||
| So I want to talk about its business model, the troubles it has with the censorship, the cyber attacks and all that from Communist China and why the Paper and TV station exist. | ||
| So let me Preface all of this before I get into the economy was just a quick little Observation about the most important thing that we have to do here in the war room to honor Steve while he is locked up in a Biden gulag. | ||
| Every time I communicate with him, he says to me, Get out the vote. | ||
| And that's what we in the War Room have to help everybody do. | ||
| Whatever state you live in, as soon as it's possible to cast a ballot, you need to do it. | ||
| Bank it. | ||
| And then you need to do a daisy chain with your friends, family, colleagues to make sure they vote as well. | ||
| And I wanted to talk a little bit about that within the context of the Christian vote. | ||
| The War Room is, like this nation, built on a foundation of Judeo-Christian values. | ||
| As you know, right now, Judeo-Christian values are under relentless attack by the party in power. | ||
| The Democrat leaders In contradiction to many of their members, their voters, is deeply, deeply atheistic in its approach, or downright hostile to Christianity. | ||
| In the Department of Justice, or in justice as the case may be, Christianity is synonymous with extremists. | ||
| And it puzzles me how in this nation something as simple as worshiping one's God of choice and obeying the Ten Commandments, or at least trying to, and living one's life with the moral compass The view laid down by Judeo-Christian teachings and writings is somehow extreme. | ||
| That view, to me, is offensive that that could be treated as extreme. | ||
| As bad as the Kamala Harris and Joe Biden folks are with respect to their anti-Christianity, their anti-Semitism, their embrace of Babylonian values. | ||
| I mean, let's be clear. | ||
| San Francisco did not happen in a vacuum of politics. | ||
| It happened because of the people who control it. | ||
| There's Rumblings that the Christian vote, particularly the evangelical vote, may not do its part this cycle in turning out for Donald Trump. | ||
| I was at an event last night on Capitol Hill, gave a speech, talked about the weaponization of justice within the context of my own four months in a Biden gulag. | ||
| The central problem here is that with the Dobbs decision, the evangelical vote has somehow lessened its ardor for getting out and voting for Donald Trump. | ||
| I'm not sure what the dynamics Of it are, but I would simply say to anyone who's a member of the War Room audience of Posse, it's really, really important that we understand that Kamala Harris has promised a radical agenda that's contrary to Christianity. | ||
| And if you do not cast your ballots this year in the numbers that you should, given the attacks that are happening on Christians, Christianity, and Israel, then you will get what you've got, which is a Democrat regime dedicated to The overthrow of the Supreme Court and the trashing of everything you stand for. | ||
| So please, we need you to embrace the ban and ethic of action, action, action. | ||
| You need to get to the polls. | ||
| You need to get your friends to the polls, your fellow churchgoers to the polls, and I'm hoping if there's any preachers listening that you will preach this gospel of GoTV. | ||
| Get out the vote. | ||
| All right, let's get down to the Serious business in the economy. | ||
| This is a staple of the war room. | ||
| We've been warning for well more than a year that the motivation for the massive spending bills that were passed and pushed through by the Democrats, the two biggest ones were the tie-breaking vote in the Senate by Kamala Harris We're designed first and foremost to spike the economy in advance of the 2024 presidential election, and certainly events have played out in support of that. | ||
| So Denver, if you can, I want you to play The leaseman clip and then we'll talk a little bit about that and then in the next break go along on that. | ||
|
unidentified
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I want to bring your attention to the word recalibration and maybe a discussion about what that means here. | |
| The chair used the phrase about five or six times in the press conference. | ||
| It was part of his opening remarks and I asked him the question, How can we know, given that the data has been reasonably strong, actually running near 3% on the GDP tracking forecast for this quarter? | ||
| Retail sales were strong. | ||
| Industrial production was strong. | ||
| So I asked him, how can we know what you're going to do? | ||
| And listen to what he said, and I'll give you my thoughts on this on the back end of it. | ||
| You'll see that it's a process of recalibrating our policy stance away from where we had it a year ago, when inflation was high and unemployment low, to a place that's more appropriate given where we are now and where we expect to be. | ||
| And that process will take place over time. | ||
|
unidentified
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So what you're doing here, Scott, is if you're recalibrating policy, you're almost in a way disconnected from what the current data is telling you. | |
| And it means you're going to go down, and you might go down, and what Jeff was talking about, 50 basis point increments. | ||
| If the inflation is a little higher, if the jobs are a little higher, you're recalibrating to get to a place where you can respond to the data. | ||
| But if you're way high, which is what the chair is suggesting here, you can't respond to the data adequately if you're way off the marks. | ||
| You've got to recalibrate and bring it back. | ||
| And I think that's where the Fed is going. | ||
| And that's why I think I agree with what Jeff is saying. | ||
| I disagree on the issue. | ||
| I think you took a little bit more I don't know what to say. | ||
| It took a little more signal from that job revision that perhaps was warranted in part because, as Goldman suggests, there may be an immigration issue with that data. | ||
| That being said, we're recalibrating now, Scott, and that means we're not really following the data quite as closely as we might to figure out what the Fed's going to do. | ||
| Yeah, recalibrating. | ||
| Hmm. | ||
| The takeaway from that is that the Fed's acting Independent of the data. | ||
| The Fed's acting independent of the data. | ||
| In other words, it's lowering interest rates to stimulate an economy which has a fine growth forecast anyway. | ||
| It's lowering interest rates to stimulate the economy When the inflation data still suggests there's a lot of hotness in that data and rate cuts aren't warranted, certainly not a 50 basis point one, which caught at least some people by surprise. | ||
| It should not have. | ||
| All right. | ||
| When we come back, I'm going to dig really deep into this. | ||
| You do not want to miss this discussion. | ||
| It will explain all the things you don't get on CNBC. | ||
| Be right back. | ||
| back tomorrow. | ||
| Let's get right into this. | ||
| The Fed cuts interest rates by 50 basis points this last Wednesday. | ||
| Everybody was expecting 25 basis points, so this was a bigger bump up than necessary, and there were some people Who believed that there wasn't any rate cut needed at all. | ||
| And in fact, if you look at the data, that would probably have been the best action, particularly with less than 50 days out in election, to avoid the charge of partisanship. | ||
| But the Fed did exactly what the war room posse expected. | ||
| ...them to do, which is to raise rates in order, excuse me, to lower rates by 50 basis points in order to boost the electoral chances of Kamala Harris as we move into the election. | ||
| When you look at this within the context of economic theory, practice, and history, what has been going on fits very neatly into the political theory of the business cycle, which was originated by a guy named William Nordhaus, A guy after my own heart. | ||
| He was a pointy-head economist, but he made a point of engaging actively in the policy process. | ||
| He was a freaking face down in Washington, D.C., heavily involved in policymaking. | ||
| And it was an emperor-has-no-clothes moment when Nordhaus stated something that was obvious Not just here in the United States, but around the world, namely that politicians will use the tools of fiscal and monetary policy to advance their chances at the ballot box. | ||
| And so I think what's useful here to point out is not that, okay, there they go again. | ||
| Fed Chairman Powell is playing politics with the Fed to help Kamala Harris, | ||
| but to point out just how friggin' dangerous it is. | ||
| This is beyond dangerous. | ||
| And the best parallel I can give you, if you wanna look at kind of the standard | ||
| for incompetence and partisanship in a Fed Chairman, all you need to go back to is 1972 to Arthur Burns, | ||
| who was the Fed Chair selected in 1970 by Richard Nixon. | ||
| by Richard Nixon. | ||
| And what was interesting about Burns is that the guy before him William McChesney Martin is famous for the line The role of the Fed chair is to take away the punchbowl just when the party's getting started and McChesney Martin was the was the | ||
| The epitome of a Fed chair who zealously defended the independence of the Fed. | ||
| And he was the guy, when Lyndon Johnson called him into the Oval Office and tried to call him on the carpet, basically told Lyndon to go take a hike. | ||
| And I'm not doing the hike. | ||
| So that's a good pun if you think about it. | ||
| So McChesney-Martin tells Johnson, No. | ||
| I'm not going to stop what I'm doing because you're doing the Vietnam War and you're doing your Great Society program. | ||
| That's going to cause tremendous amount of inflation, so I'm going to raise rates and you're not going to tell me what to do. | ||
| All good. | ||
| Then along comes Arthur Burns in 1970. | ||
| Nixon, who I mean, look, the guy was just a paranoid individual, right? | ||
| And he wanted to win in 1972 using any tools possible. | ||
| That's how he got into the Watergate problem to begin with. | ||
| Even though it looked like he was going to win in a landslide, he still wanted to use the levers of the Federal Reserve. | ||
| And so he pressured Burns into cutting rates leading into the 72 election, even though it was not warranted. | ||
| And it was the worst thing to do because not only did we have the inflationary pressures building from the Vietnam War into the economy, we were beginning to experience some of these supply chain issues and supply shocks And what Burns effectively did by getting Nixon re-elected with his manipulation of the Fed is create what was a decade of inflation. | ||
| That's the buried lead, right? | ||
| It was the stagflation. | ||
| That was a creation of Johnson's policies and Burns's accommodation of that policy, and it was Katie bar the door. | ||
| And the most important statistic you have, Posse here, is that Through the entire decade of the 1970s, real wages, real inflation-adjusted wages did not rise a whit. | ||
| They were stagnant. | ||
| That does not happen. | ||
| But it happened in the 1970s. | ||
| Fast forward now to what we have with Jerome Powell doing the same damn thing on behalf of Kamala Harris. | ||
|
unidentified
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It's... it's... it's... it's... | |
| The height of stupidity and incompetence. | ||
| Jerome Powell has just thrown gasoline on a fire that was already burning. | ||
| If you look at the data, if you look at the data, there's absolutely no reason to do a 50 basis point hike at this time. | ||
| And here's what's going to happen, okay? | ||
| Likely, the stock market will keep going up. | ||
| And when it goes up, there's something called the wealth effect. | ||
| People feel richer, so they spend more. | ||
| So you're going to get a buzz out of that for the economy and blow past the growth targets. | ||
| And when you blow past the growth targets, you're going to blow past the inflation targets. | ||
| But the bigger problem that Powell has refused to recognize is the fiscal cliff we've already gone over. | ||
| The amount of debt. | ||
| It's going to be 6% of GDP that we're going to have to finance for the foreseeable future. | ||
| And because of that need to finance that much debt, What we're going to do is we're going to have a situation where, because of the relationship between interest rates and the U.S. | ||
| dollar, the value of the dollar is going to plummet. | ||
| Okay? | ||
| The value of the dollar is going to plummet. | ||
| Now, why do we care about that? | ||
| Because it causes inflation! | ||
| Why does it cause inflation? | ||
| Because When you have a lower value dollar, it costs more to buy your imports. | ||
| And if you're an economy like the United States, which is dependent, far too dependent, on imports, you, the consumer, are going to be paying more for those imports. | ||
| The rule of thumb here is that as you get a fall in the dollar, I think the ratio is something like 6%, 7% decline in the value of the dollar, you get a 1% increase in inflation in the price level. | ||
| Okay? | ||
| And we will get that. | ||
| Now, even that 1%, if the Fed's trying to maintain a target of 2.5% to 3%, Which it's moved up from 2%, that used to be the old standard, 2% inflation as the target. | ||
| They've already lifted it 2.5 to 3 and they're adding 1% to the inflation rate just by irresponsible, incompetent, politicized Fed policy. | ||
| We are in for very hard inflationary times. | ||
| So, that's a story you can tell right now to every voter out there who's contemplating a world of Kamala Harris and Jerome Powell staying at the Federal Reserve. | ||
| That's not a world you want to live in. | ||
| All right, Peter Canovar, we will be back in the war room with an expose of the Lincoln Project with our correspondent Adam Millon. | ||
| Stay right there. | ||
| With the massive tax hikes proposed by Harris, an almost 40% top income tax rate, 7% increase to the corporate tax, a capital gains tax on unrealized gains, and the fact that she's proposing to add almost $2 trillion to a current $2 trillion deficit. | ||
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| America is standing on the brink of an election meltdown and Jim Rickards, editor of Strategic Intelligence, | ||
| the man who predicted the 2008 financial crisis, Trump's victory in 2016 | ||
| and the COVID disaster is sounding the alarm. | ||
| Rickards has just dropped a bombshell that could change everything you think you know about the 2024 election. | ||
| He's uncovered what he calls the Democrats' secret plan to keep Trump out of the White House, even if he wins. | ||
| This isn't some far-off theory. | ||
| He's warning that this meltdown could lead to a 50% market crash. | ||
| The total collapse of the U.S. | ||
| dollar and violent riots in our streets. | ||
| The stakes are higher than ever, folks, and if you're not prepared, you could lose everything. | ||
| But Jim Rickards isn't just predicting disaster. | ||
| He's laying out five critical steps you need to take now to protect yourself, your family, and your financial future. | ||
| This isn't fear-mongering. | ||
| It's coming straight from a man who's been at the highest levels of intelligence, finance, and national security. | ||
| Go to Meltdown24.com Right now to watch his urgent presentation. | ||
| Don't wait until it's too late. | ||
| Meltdown24.com. | ||
| Meltdown24.com. | ||
| That's Meltdown24.com. | ||
| Here's your host, Stephen K. | ||
|
unidentified
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Band. | |
| Welcome to Meltdown24.com. | ||
| You . | ||
| Thank you. | ||
| Hey, Peter Kay Navarro in for Steve. | ||
| Look, there's a ton of dark money that's coming in from all sorts of bad places designed to take out President Trump in this election. | ||
| And over the next couple of weeks, we're going to drill down on a lot of those different sources. | ||
| But the ones that Take me off the most are the rhino termites in the house. | ||
| It's it's the folks who call themselves Republicans. | ||
| Who are actively raising money and spending it to defeat Donald Trump and Trump's agenda. | ||
| And the basic schism here, we know what it is. | ||
| In the beginning, the traditional Republican Party was the party of Wall Street that showered politicians with campaign contributions In order to make the world safe for the offshoring of jobs places like communist China and the insuring of cheap labor across our Southern border and if there's any two things that Donald Trump stands for it's shutting those things down so | ||
| The fruit of this poisonous tree in Rhinoland is the globalism and the corporate money that is designed to take your job, take your community's factories, and expose your communities to all of the vagaries of illegal immigration. | ||
| So one of the ones I want to focus on today is something called the Lincoln Project. | ||
| This is an organization which was started at least by one of the co-founders, a guy named George Conway, who was the then husband of Kellyanne Conway. | ||
| So you had the odd couple of Kellyanne working in the White House for Trump and her husband working outside the White House trying to do everything he can to trash Donald Trump. | ||
| The guy's a disgusting individual. | ||
| He looks like a little toad. | ||
| He's just, I mean, whatever. | ||
| But he and his ilk are dangerous. | ||
| So I had Adam Milan take a look at it, mostly what Adam does for us here in the War Room. | ||
| He speaks and writes Chinese fluently, and he gets us all the dirt on Communist China. | ||
| But he's got some thoughts On the Lincoln Project. | ||
| So let's bring Adam in. | ||
| Adam, tell us what you found here that the War Room needs to know. | ||
|
unidentified
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Basically, with the Lincoln Project, it's a story of rampant self-dealing. | |
| So the Lincoln Project during the 2024 election cycle has so far raised over $14 million. | ||
| They spent over $12 million and approximately one-third of that amount spent has gone to firms directly controlled and owned by Lincoln Project leadership. | ||
| So that's over $500,000 to the consulting firm of Reed Galen, one of the Lincoln Project's co-founders. | ||
| Over $600,000 to Rick Wilson, who was one of the co-founders, and over $100,000 to Rick Wilson's son, Andrew Wilson, who is described as a pollster. | ||
| And of course, the Lincoln Project rose to prominence in 2020 for its rabid anti-Trump ads, and they're continuing to do the same work during the 2024 election cycle. | ||
| election cycle. It's in 2020 they raised over 87 million dollars. This election | ||
| cycle they've raised over 14 million dollars so they've they've decreased the | ||
| amount they've raised but they're still very active. | ||
| Uh, you know... | ||
| In terms of the money, where did it come from in 2020? | ||
| Where is it coming from now? | ||
| Do we know? | ||
| It's so hard to track this dark money. | ||
| What do we know about their sources of funding? | ||
|
unidentified
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In general, it's coming from the far left and Never Trump camps. | |
| And in this election cycle, some of the donations that have come in have been from people like Christy Walton of the Walmart family, and also Charles Bronfman, the billionaire member of the family that formerly owned the Seagram's Liquor Empire, and also the raging Never Trumper, Rob Reiner. | ||
| So these are just some of the donors that that have given money to the Lincoln Project. Also, the | ||
| Lincoln Project founders created a media company called Resolute Square Media in 2022, and an | ||
| entity with a very similar name donated money, over $24,000 to them during this election | ||
| cycle, which is definitely eyebrow raising. | ||
| And in addition, a really big eyebrow raiser here is Google has donated over $57,000 to the Lincoln Project. | ||
| During the 2024 election cycle. | ||
| So Google has actually, according to OpenStreetMap... As a corporation or as... Adam, as they donate as a corporation or do they donate as executives of the corporation? | ||
|
unidentified
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On Open Secrets, Google is listed as a donor. | |
| Google Inc. | ||
| is listed as a donor in Mountain View, California. | ||
| And I spoke with Trump administration Assistant Attorney General Jeff Clark about this, and he referenced recent reporting by the O'Keefe Media Group showing a Google growth strategist in Los Angeles Admitting that Google is actively trying to manipulate ad results in searches to favor Kamala Harris. | ||
| So Jeff Clark suggested that, you know, that's part of the effort here with the money flow back and forth between the Lincoln Project and Google. | ||
| So Google has given more than $57,000 to the Lincoln Project according to OpenSecrets. | ||
| And according to expenditure documentation from the FEC, the Lincoln Project has actually paid $34,000, more than $34,000 to Google. | ||
| So you've got money going back and forth between Google and the Lincoln Project. | ||
| And Jeff Clark, you know, suggested that part of the reason maybe, you know, with regard to this effort by Google to make search results favorable to Kamala Harris in the 2024 election. | ||
| The woman in Wal-Mart, is that the daughter? | ||
| She's one of the owners of Wal-Mart, part of the Walton family? | ||
| Who is that again? | ||
|
unidentified
|
Christy Walton. | |
| Christy Walton. | ||
| And she's the widow of one of the heirs to the Walton family. | ||
| And how much did she give? | ||
|
unidentified
|
She gave at least $50,000 to the Lincoln Project, according to Secrets. | |
| The obvious connection there is that Walmart is by far the largest importer of communist Chinese goods. | ||
| Their whole business model is predicated on sweatshop labor from China, so Donald Trump obviously is regarded at Walmart as a threat to their bottom line. | ||
| Tell us about, well, first of all, let's reinforce your point. | ||
| Look, the Lincoln Project, the people who run the Lincoln Project, Are not driven by ideology, by any higher moral or ethical duty to this country. | ||
| If they would, they wouldn't be taking so much money off the top from the contributions they're raising. | ||
| I mean, I'm surprised that people continue to give to the Lincoln Project given the vigorous they take off the | ||
| top from any contribution, but then I'm not surprised at all | ||
| when you tell me that a lot of the money coming in is from the far left. So basically, the Lincoln Project is | ||
| a conduit for leftist money to attack Trump under the guise | ||
| of republicanism run by people who are taking big chunks of that money and putting it in their own | ||
| pockets instead of using it to do the mission that they were paid | ||
| to do. | ||
| paid to do. | ||
| Tell me about the journey now of George Conway. | ||
| Apparently he has left the Lincoln Project to try to preserve some semblance of his reputation and formed another PAC. | ||
| What's he doing there and where's the money coming from to keep George Conway living in the style he's accustomed to? | ||
|
unidentified
|
Right, so George Conway is credited as one of the original founders of the Lincoln Project, and he started a PAC, he calls it the Anti-Psychopath PAC, is the actual name of the PAC that he started. | |
| And he went on the New Yorker recently, this month, So he left the Lincoln Project. | ||
| He actually publicly called for it to be shut down in February of 2021. | ||
| But now that he's left, he continues to brag about the work that he's done there. | ||
| And he appeared on a podcast with the New Yorker bragging about his work at the Lincoln Project and how he thinks that the advertisements that the Lincoln Project produces are able to get under President Trump's skin. | ||
| Those are his claims and his boasts. | ||
| And so now he's continued his anti-Trump, never-Trump work, you know, starting his own PAC. | ||
| So I don't have specific details on how much he's raised in that PAC, but that's what he's doing now. | ||
| He continues to brag about his Lincoln Project work and has his own PAC now. | ||
| Do we have any insight as to how much he takes from the venture? | ||
|
unidentified
|
I don't have specific numbers on George Conway. | |
| I do know that Reid Galen has taken in over $500,000 and Rick Wilson has taken in over | ||
| $600,000, both to their consulting firms. | ||
| And Rick Wilson's son has taken in more than $100,000. | ||
| All right, Adam. | ||
| Thank you for that fine reporting to the Posse. | ||
| We will catch you next week. | ||
| We've got a big breaking story related to Communist China's infiltration of the American election via the Manchurian candidate, Tim Walz. | ||
| Adam, thanks again. | ||
| To to put a put a bow on this pile of manure that we've got this Lincoln project. | ||
| They got their podcasts. | ||
| They got their ads. | ||
| They fly the banner of Republicans against Trump. | ||
| These are the kind of turncoats who get used by the left. | ||
| To trash Trump and now we find out two things really that a lot of their money comes from the left and That a lot of the money that comes from the left goes into their own pockets Rather than being used to trash Trump, which is not to say they didn't do a lot of damage in 2020 and they won't do at least some damage in In 2024. | ||
| That's dark money in this election. | ||
| We'll keep following this story. | ||
| We have another expose on a different source next week. | ||
| All right. | ||
| Hang on. | ||
| I'll be right back with Jim Rickards. | ||
| And then at the top of the hour, don't miss this. | ||
| Steve Lance from the Epoch Times is going to come in and explain how the Epoch Times and new chang dynasty have quietly become one of the | ||
| important sources of information | ||
| In our country and around the world particularly when it relates to the chinese communist party be right back stay | ||
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|
unidentified
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Here's your host, Stephen K. Bannon. | |
| Hey, Peter Kay Navarro in for Stephen K. Bannon. | ||
| You are in the War Room. | ||
| And I want to just reiterate some of the issues we talked about this morning with respect to the economy and what Fed Chairman Jerome Powell did. | ||
| With raising interest rates by 50 basis points, which was 50 basis points too many. | ||
| 25 would have been playing with inflationary fire. | ||
| 50 basis points was a vandalism act by Jerome Powell on this economy for the sole purpose of boosting the chances of a presidency which has essentially set us up for Economic failure over the next 10 years. | ||
| Allah the 1970s so What I want to do now is I want to bring in Steve Lance we're gonna do this get started a little early on this you want to make sure Steve's microphone is hot there in Denver and all this good stuff, but I've known Steve for four years now and And have great respect for the quality of his journalism. | ||
| He's literally down the hill at the headquarters in D.C. | ||
| of the Epoch Times and New Tang Dynasty. | ||
| And as I explained to you, the War Room, quietly, the Epoch Times has become the fourth largest newspaper in the country by subscriber base. | ||
| And a really force in American politics and economics and awareness about the Chinese Communist Party. | ||
| So Steve, welcome to the War Room, brother. | ||
|
unidentified
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Thank you for having me. | |
| Yeah, tell us a little bit about what you do, why you do it, and how the whole Epoch Times thing, New Tang Dynasty works. | ||
|
unidentified
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Well, Dr. Navarro, first of all, obviously, thank you for giving us this opportunity. | |
| I think to talk about the Epoch Times, we have to kind of go back to the origins and why, the why we were founded, the Epoch Times and NTD, New Tang Dynasty, both under the Epoch Media Group. | ||
| And we were founded in the early 2000s to essentially counter communist propaganda. | ||
| Our founding journalists were Falun Gong practitioners. | ||
| And if you know anything about Falun Gong, it's a peaceful meditation practice that was | ||
| actually embraced in China by the Chinese Communist Party. | ||
| It's based on truthfulness, compassion and forbearance. | ||
| However, after six years of being public, the number of people that started to practice | ||
| started to outnumber Chinese Communist Party members. | ||
| Their own internal census. | ||
| Estimated 1 out of 12 Chinese people were practicing this. | ||
| That's about 100 million. | ||
| There were only 70 million Communist Party members. | ||
| So the dictator at the time, Jiang Zemin, saw this as a threat to their power and began to systematically persecute this group. | ||
| And along with the persecution came an onslaught of of propaganda. | ||
| They labeled it as an evil cult. | ||
| They staged a self-immolation on Tiananmen Square, where they had people setting themselves on fire, pretending that they were Falun Gong practitioners. | ||
| And this was broadcast all throughout China and beyond. | ||
| The Associated Press, even up until 2017, was still publishing this propaganda in various other news outlets throughout the United States. | ||
| Some of the biggest ones, actually, Kind of perpetuate this communist propaganda. | ||
| So there was a void in the United States, not just in the Chinese community, but also in the English speaking world to get the truth out about this persecution. | ||
| And so that is why we were founded and. | ||
| I think there's really something else that's special that has allowed us to get information out of China. | ||
| When we talk about different persecuted groups inside of communist China, everybody's aware of the Tibetans who are being severely persecuted. | ||
| The Uyghurs are being severely persecuted. | ||
| And this isn't a competition of persecutions, but those are more regional. | ||
| Falun Gong represents all of China, the Han people as they call them. | ||
| So people that practice this ranged from high-ranking officials in the government all the way down to farmers. | ||
| And so once the switch was flipped and the persecution began and the Epoch Times was established in 2001, by de facto we essentially had 100 million sources Inside of China and as you know, it's very difficult to get information out of China to even stay in China if you're a major outlet without You know appeasing the CCP and not reporting on things and so that is our specialty That's what we've been doing exposing China that the Chinese Communist Party from the inside out there was a | ||
| A story, tell me if it's true, where there was a peaceful gathering, I won't even call it a protest, that was around the palace? | ||
| Yeah, that palace is kind of the palace of the Chinese Communist Party. | ||
| It's kind of where all the mucky mucks are and things like that. | ||
| And it was that event, I think, that frightened them. | ||
| Am I right on that? | ||
|
unidentified
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So, like anything in life, there's complexities. | |
| And that event was complex, and when you factor in the disinformation, and then that turns into misinformation, it's hard. | ||
| But I'll do my best to unpack that. | ||
| So, as I mentioned... We've got 60 seconds left, and then we'll go to the top of the hour. | ||
|
unidentified
|
When you have 100 million people practicing this, that have benefited from this, and there were various events, actually, before the actual date that the persecution took place on July 20th. | |
| This was on April 25th. | ||
| The CCP already started to persecute this, and so this was an appeal to what the CCP did in, I think it was Tianjin City, where they arrested and harassed 10 Falun Gong practitioners. | ||
| So this Zhongnanhai event that you're referencing, where people went, it was only 10,000, roughly 10,000 people out of An estimated 100 million people, and they went there peacefully. | ||
| They actually met with the premier, I believe his name was Ju Rongji at the time. | ||
| He came out and said, this is okay, we're going to resolve it. | ||
| Jiang Zemin was so upset that that's when he flipped the switch. | ||
| And I will say too, not only was it peaceful, by the time all the practitioners left that site, there wasn't even a cigarette butt left on the sidewalk. | ||
| They cleaned everything 100% upright. | ||
| All right, hold that thought. | ||
| We are with Steve Lance. | ||
| You are in the War Room. | ||
| We will be right back. | ||
| Hang on. |
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