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This is the primal scream of a dying regime. | ||
Pray for our enemies, because we're going medieval on these people. | ||
You're just not going to get a free shot at all these networks lying about the people. | ||
The people have had a belly full of it. | ||
I know you don't like hearing that. | ||
I know you've tried to do everything in the world to stop that, but you're not going to stop it. | ||
It's going to happen. | ||
And where do people like that go to share the big lie? | ||
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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. | ||
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War Room. | |
Here's your host, Stephen K. Bannon. | ||
It's Tuesday, 3 December, Year of Our Lord 2024. We're in the Real America's Voice studios in Palm Beach. | ||
I think, at least for the rest of the week, of course, when we're here, everybody is in town. | ||
Raheem's down here reporting. | ||
Jack Basovic's going to join me in a moment. | ||
I understand he's got a big announcement about his show today. | ||
I think Darren Beattie's around. | ||
It's just everybody's around West Palm Beach and Palm Beach, obviously, for the transition. | ||
So a lot going on. | ||
I actually give a talk later tonight over at Club 47, this amazing club they have down here. | ||
In Palm Beach with, I guess, a lot of the war room positive. | ||
I look forward to seeing you guys tonight to talk about what's going on. | ||
Jim Rickards is with us. | ||
Okay, MSNBC's got this article up. | ||
And folks, we're trying to give you signal and get ahead of this because this is going to be a big one. | ||
They're talking about the bond market. | ||
The capital markets throughout the world are going to put the controls on Donald Trump, particularly for things like... | ||
Mass deportations and really taking apart the US government. | ||
Jim Rickards, your thoughts about that, sir? | ||
Thanks, Stephen. | ||
I read that article. | ||
My first reaction was to laugh out loud. | ||
And my second reaction was, I guess, MSNBC reporters don't have enough to do today. | ||
But seriously, one of the things about having been around for a while is I was actually around when the real bond vigilantes were active in the 1980s. | ||
But even before that, I started my career 10 years at Citibank. | ||
As their international counsel. | ||
And I got kind of one-on-one tutorials by Walter Riston. | ||
I was one of the up-and-comers. | ||
Riston's probably the second greatest banker of the 20th century after Pierpont Morgan. | ||
He explained to me how the Eurodollar system actually works. | ||
So we'll come back to that in a second. | ||
But the first thing is, the Federal Reserve is impotent. | ||
The Federal Reserve is best understood in J-PAL. It's like one of these Las Vegas magician shows. | ||
They're very popular, but don't look too hard to hit the tricks. | ||
It's all for show. | ||
It means very little in terms of what we're actually concerned about, which is the government bond market, number one. | ||
Number two, the Fed controls short-term interest rates. | ||
When I say short-term, I mean an overnight rate. | ||
You know, banks lending to each other overnight. | ||
Okay, they can tweak that. | ||
They don't control the yield to maturity on a 10-year Treasury note. | ||
They don't control the 30-year bonds. | ||
And the second stage of my career, another 10 years, I was a council and credit officer at one of the primary dealers. | ||
Primary dealers, for those who don't know, they're the dealers who actually get to deal with the Fed. | ||
And there aren't many. | ||
There are about 20 of them. | ||
They actually get to deal with the Fed. | ||
So I dealt with the Fed every day for a long stage of my career and kind of know how that all works. | ||
So here's the thing. | ||
The MSNBC article quotes a couple stories. | ||
One of them was Bill Clinton's shock at learning that he had to pay attention to the bond market. | ||
That was from 1993. The other one was the original bond vigilantes from the mid-1980s. | ||
Okay, true enough. | ||
But one story is 30 years old, one story is 40 years old. | ||
That's reaching back pretty far. | ||
The situation today is the following. | ||
If there are bond vigilantes, They're in the People's Bank of China. | ||
They're in the European Central Bank. | ||
In other words, it's the central banks and the sovereign wealth funds, number one. | ||
Number two, there's a global dollar shortage. | ||
And when you say that to people, they're like, what are you talking about? | ||
The Fed printed $10 trillion. | ||
How could there be a dollar shortage? | ||
When the Fed prints money, They buy bonds from the bank. | ||
The money does come out from the banks. | ||
That money comes out of thin air. | ||
But the banks give it back to the Fed in the form of excess reserves. | ||
So that money doesn't go anywhere. | ||
You're just inflating the balance sheet of the Fed. | ||
Real money, the kind that drives the economy, the kind that you and I or anyone else would care about, comes from commercial banks, particularly Eurodollar banks. | ||
They're contracting their balance sheet. | ||
There is a dollar shortage. | ||
And when you see China selling Treasury notes, the Treasury has these TIC reports. | ||
They come out. | ||
Oh, China. | ||
You know, as reduced as holdings of your treasury securities, they're dumping the dollar. | ||
No, they're not. | ||
They're desperate for dollars. | ||
They're selling treasuries to get dollars to prop up their own banks. | ||
So the truth is, there's a dollar shortage. | ||
If we're going to have a dollar problem in the near future, it's going to be because the dollar is too strong. | ||
We'll leave that for later. | ||
So the bond vigilante story is nonsense. | ||
Thank you, sir. | ||
You agree with me that right now the scab that hasn't been picked yet is in Ukraine. | ||
It's the center of everything. | ||
Let's play. | ||
We've got a little cold open. | ||
Jack Posobiec is going to join me with Jim Rickards. | ||
Let's go and play it. | ||
unidentified
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You know, John, here's what I'm really hoping. | |
I'm hoping that Jake Sullivan talked to Michael Walsh, who's the incoming National Security Advisor, or President Biden, who's talked to President Trump, and said, here's what I'm going to do. | ||
I'm really hoping that happened, because what he has done, Biden, through his actions, he's actually given President Trump more leverage. | ||
Really? | ||
Because now he can pull back, he can go left, he can go right, he can do something. | ||
I think what he did is he basically said, well, this is what I want to do, and I'm hoping there's something to this. | ||
I don't know. | ||
But it does give President Trump more ability to pivot from that. | ||
Oh, that's interesting. | ||
Just one quick question before we let go. | ||
We have like five seconds, General. | ||
So you're not buying the White House's, the Biden administration's justification that they launched, they approved these new long-range weapons because of the North Koreans on the ground inside Ukraine? | ||
It sounds good, but I'm... | ||
Jillian, what I'm really hoping is there was another reason to it, which allows, gives leverage to President Trump. | ||
Maybe that may be a good reason to do it. | ||
Look, they should have been doing this a year ago. | ||
But they've basically pulled back. | ||
You do not fight a war allowing other countries to have sanctuaries. | ||
If you're going to fight a war, you fight a war. | ||
And we've basically pulled back on letting Zelensky fight a war that he should have been fighting a long time ago. | ||
And the casualties were horrific. | ||
Yeah, of course. | ||
But the advantages that he had this last summer are not there anymore. | ||
Let me have it. | ||
Wow! | ||
We don't want to fight a war. | ||
I love General Kellogg. | ||
Keith Kellogg's a good man, former head, I think 82nd Airborne was in the first term, Mike Flynn's wingman. | ||
Jack Vosobiec, you're here. | ||
So the report, a couple days ago, the White House said, hey, Zelensky, you need 500,000 18-year-olds, drop the thing, you need them up as combat troops. | ||
Reuters is reporting today, the Guardian's reporting today, the Times of London's reporting today that there is, looks like a collapse of the Ukrainian front, 200,000 Troops either have not reported or are actually leaving the front lines. | ||
Russia supposedly massing for a major offensive before President Trump takes over. | ||
It looks to me like they're trying to jam up President Trump. | ||
But to General Kellogg, the launching of the long-range missiles with our technicians over there, I mean, are you down with that, sir? | ||
Well, Steve, I think there's a big question here about which red lines are being crossed. | ||
And in the comments about we don't want to fight a war with our one hand tied behind our back, who is the we? | ||
I'm trying to figure out who the we is here because if we're acknowledging that it is in fact a proxy war between the United States and Russia, then that's obviously going to change the Russian strategic calculus within the Kremlin. | ||
Because guess what? | ||
They listen to what Keith Kellogg and what Mike Waltz and Steve Bannon, they watch everything. | ||
They watch everything. | ||
We know their apparatus. | ||
We know what their media status is. | ||
We get it. | ||
They translate it. | ||
They send it all around. | ||
So they want to know what's going on with this new administration. | ||
And the Russians don't necessarily, and for all the talk of Russia collusion, they don't necessarily just trust the Americans when it comes to anything. | ||
Oh, this guy talks a big peace plan, but then the next one comes in and overturns everything that guy did, so why should we make a plan in the first place? | ||
So the hardliners are over there saying right now, why should we bother with the peace process? | ||
The front line is in collapse. | ||
You got conscripts that won't even show up. | ||
They're trying to drop the DH to 18. You've got a couple of these units that have crossed the line into Kursk. | ||
Meanwhile, Russia has already taken back 50 percent of the territory in Kursk that the Ukrainians put over. | ||
And they're encouraged. | ||
They have no idea what they're going to do with, by the way. | ||
They're holding a couple of settlements that are essentially worthless to from a strategic perspective. | ||
They're not on any strategic highways or strategic lines of communication. | ||
There's no supply lines that are being cut off. | ||
It's all being done for me to say, oh, we invaded Kursk. | ||
We invaded the motherland. | ||
And so you have the response with the long range missiles. | ||
But here's what I want to understand is we can't be glib about this. | ||
And I said this yesterday on the program. | ||
We can't be glib about these types of things. | ||
Do you mean to say that Donald Trump signed off on long range missile strikes into Russia? | ||
Because it sounds like what you're saying. | ||
Keep in mind. | ||
Was that what it was saying, right? | ||
I mean, it sounds like that's what's coming out of there. | ||
And keep in mind, Joe Biden has never come out publicly and said that. | ||
Jake Sullivan won't even come out and officially say that we get these leaks, right? | ||
We only get these leaks that come out. | ||
And this is done. | ||
Why? | ||
It's done strategically. | ||
Because there are people, even Jake Sullivan understands that you don't publicly announce you're attacking On Jonathan Karl on Sunday, Jake Sullivan said the New York Times reported senior officials in the Biden administration, senior officials in Brussels and in NATO, and the senior guys in Kiev had meetings talking about the redeployment of the old nuclear weapons that Ukraine had back to Ukraine. | ||
He denied it. | ||
Jim Rickards, your thoughts on On the center, by the way, this is why Hunter Biden's got a pardon that goes back to January of 2014 for the color revolution. | ||
Your thoughts on Ukraine, sir? | ||
Path to nuclear annihilation, and that is not an overstatement. | ||
I've studied this since, I've personally studied this since the 1960s, and the scholarship goes back to the 1950s. | ||
Every expert agrees that nuclear war does not come out of the blue. | ||
It happens to escalation. | ||
One side does something provocative, the other side answers, And so forth. | ||
And you keep going up the ladder. | ||
Herman Kahn called it a ladder, had 44 steps in his version. | ||
We keep climbing up the ladder. | ||
What Herman Kahn said, what you have to do, number one, realize you're on the ladder to nuclear annihilation. | ||
Number two, take a beat, stop. | ||
Number three, climb down. | ||
That's what Kennedy and Khrushchev did in the 1960s. | ||
There were other cases in the 1980s where that happened. | ||
So we're on that ladder right now. | ||
I'm shocked at how little American policymakers understand about Russia. | ||
It used to be a real specialty, but it's been lost. | ||
They think of Russia as something in the 1990s with Brezhnev and their leadership. | ||
Yeltsin. | ||
And kind of loosening up. | ||
The 1990s were an anomaly. | ||
It was a 400-year anomaly. | ||
You first of all have to understand the Russian way of war. | ||
The Russian way of war is very slow, very methodical, and deadly. | ||
They create cauldrons. | ||
It could take six months to encircle you, and then they kill everybody in the cauldron unless you surrender. | ||
They're doing that one by one. | ||
The front is collapsing. | ||
The Russians are poisoned for a major advance to the Nipah River. | ||
And Putin doesn't have to. | ||
What's to negotiate? | ||
There's nothing to negotiate. | ||
The negotiation would say, okay, you can keep the four provinces that you've already turned to the Russian Federation, maybe two more, maybe Sumy. | ||
And Putin doesn't care what anyone says on any U.S. network policy makers. | ||
The missiles are landing, the long-range missiles are landing in Russia. | ||
It doesn't matter, oh, did we leak it? | ||
Did we say it? | ||
Is it a policy? | ||
Is Trump bound by? | ||
It doesn't matter. | ||
They're landing in Russia. | ||
The second thing people don't understand, Putin doesn't bluff. | ||
He does not bluff. | ||
When he says something, he means it, and he'll do it. | ||
So stop kidding yourself. | ||
Stop saying, oh, we dial it up, they'll back down, we're gonna wear out the Russian economy. | ||
Russian economy is outperforming the US economy, by the way. | ||
So there's very little understanding of the Russian economy, the Russian way of war. | ||
One of the ways I get into debates like this, I just ask the person, have you been to Russia? | ||
They go, no, no, I've read about it. | ||
Well, I've been to Russia, been to Moscow. | ||
I have friends there. | ||
I understand. | ||
I've studied the history. | ||
I understand how it works. | ||
Putin doesn't bluff. | ||
He should make no concessions. | ||
Why should he? | ||
I mean, he won. | ||
People die. | ||
This is a war. | ||
Jim, they've lost a million Ukrainians real quickly because now you've got to bounce. | ||
Are we on a path now? | ||
Are we like in the 1938s? | ||
Are we on a path to actually a third world war? | ||
When I say that, I mean a shooting war, sir. | ||
I think that's the best way to describe it. | ||
By the way, there's no evidence that there are North Korean troops in curse, but they are in Siberia. | ||
But yeah, Putin is systematically killing Americans. | ||
In Ukraine, when I say systematically, they may be mercenaries, they may not be in uniform, or they may be. | ||
They may be civilian contractors. | ||
But the Ukrainians can't launch these missiles. | ||
The Ukrainians can barely fly the F-16s and they get shot down when they do because they don't speak English. | ||
So Putin doesn't need the Oreshnik missile. | ||
He's got it. | ||
It's basically made Tactical nuclear weapons obsolete, because that's how powerful and fast it is. | ||
But he's got a whole bunch of other Zircon and other hypersonic missiles. | ||
He's targeting the control sites for the missiles coming into Russia, and he's killing Americans in the process. | ||
So you've got your World War III right now. | ||
Jim, where do they go to get your newsletters, the books, all of it? | ||
We're proud to have you as a contributor. | ||
We love being in business with you guys. | ||
Where do people go? | ||
Thank you. | ||
We have a landing page. | ||
It's RickardsWarRoom.com. | ||
Rickardswarroom.com. | ||
You go there, you can sign up for our flagship newsletter, Strategic Intelligence, and we cover all the issues we talk about and a lot more. | ||
It's Rickardswarroom.com. | ||
We'll drive a lot of traffic there. | ||
Jim Rickards, he's saying we're in the shooting part, early stages of World War III, of all places, on the Eurasian landmass. | ||
Oh, my Lord. | ||
Jim Rickards, thank you, brother. | ||
Jack Posobiec's going to stick with us. | ||
Here in the Real America's Voice studios in West Palm Beach, Florida. | ||
Short commercial break. | ||
Make sure you go check out Birch Gold. | ||
Better than ever, if you're going to have a shooting war, might as well talk to Philip Patrick and the team on some financial alternatives. | ||
Birchgold.com slash Bannon. | ||
Short break. | ||
Poso will join us after the break. | ||
unidentified
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Here's your host, Stephen K. Band. | |
Okay, folks, of everything that's going on, it's so much. | ||
We're trying to make sure we keep these different verticals so you know we can tie it all together. | ||
The one that's getting increasingly dangerous every day is this Third World War on the Eurasian landmass, now up in Syria. | ||
It's the Persians and the Russians. | ||
We said for years, you've got to make sure that the Chinese Communist Party in Syria In Beijing and the KGB in Moscow, coupled with the Persians in Tehran, cannot merge together. | ||
Jack Basobiec, walk me through the war against the empire. | ||
Well, particularly now, what we're seeing here in Syria, it can't be delinked from Erdogan and his goal of establishing a neo-Ottoman caliphate. | ||
So I've said for years, he's part of this with Russia and with the Persians. | ||
Well, there's an interesting wild card. | ||
Erdogan's playing a very dangerous game right now because he has linked up with Russia in the past. | ||
However, on Syria, he is in direct opposition with Russia because Russia backs Assad. | ||
So what he's doing is pushing down through those northern areas. | ||
Why? | ||
Because they want Aleppo. | ||
They want to establish the buffer zone there. | ||
And then what is just to the east of that, of course, is Kurdistan. | ||
And they want all of Kurdistan, by the way, to include, wait for it, the Iraqi side. | ||
He wants Iraqi territory. | ||
He wants complete control of those border crossings. | ||
- This is how ISIS was able to come to power, because they controlled the oil lands, they controlled the border crossings, and then they were the ones selling oil to, wait for it, Erdogan's son, when all of that was going on. | ||
That's how ISIS was able to expand so quickly, because they were selling the oil out of Kurdistan. | ||
They controlled all of it. | ||
Manbij, we talked about yesterday, that's where Shannon Kent made the ultimate sacrifice and Joe Kent's wife, who lost her life there, In the middle of all this because we had American troops in the middle of this absolute hornet's nest. | ||
But we are looking at what you're looking at writ large. | ||
You put all of it together. | ||
You got Hezbollah in the south. | ||
You got Syria. | ||
You got the Turks. | ||
You got the Russians, of course, playing in there as well. | ||
Wagner is still in to an extent, though not the way they were before. | ||
The U.S. is still in to an extent not the way they were before. | ||
The Kurds are trying to find anybody who will support them at this point. | ||
You tie all that back. | ||
Israel, of course, is on the southern end of Syria. | ||
That's with Hezbollah as well. | ||
With their fight in Lebanon, that's what gives the Turks a free reign up there. | ||
Tie that back Russia and Ukraine. | ||
So Russia and Ukraine now, this is peace. | ||
Talk to me about that because there's three interlocking pieces of this. | ||
The pardon for Hunter Biden goes all the way back to January 2014, the beginning of the color revolution. | ||
You have, as one of the engine room members are telling me, the administrative state and the deep state, really the rise of intel becomes their ability to kind of form the deep state, right? | ||
There's the rise of war. | ||
And Ukraine is the center of that. | ||
And that's why they defended so much, because they understand we picked that scab. | ||
It kind of, all the pus that comes out, we can actually use that Look, look, look, the reason the Hunter Biden pardon goes back 10 years is because Joe Biden was never supposed to be president because Donald Trump was never supposed to be president. | ||
You got to go put yourself back into the mindset of 2014. Hillary Clinton was supposed to be president. | ||
And all of this was Burisma and all the rest of it. | ||
This was the nest egg. | ||
This was Joe Biden's nest egg. | ||
This was the payoff to the Biden family. | ||
Hey, appreciate all the buddy-buddy work, you know, doing the co-pilot thing, the bromance with Barack Obama, good stuff. | ||
You're going to take this. | ||
You're going to move up. | ||
Why? | ||
Because Barack Obama passed over Joe Biden in 2016 when he endorsed Hillary Hillary Clinton over his own vice president. | ||
Everybody remembers this. | ||
And he said, I'm not going to support you, Joe. | ||
Joe took that as a backstab. | ||
And so the money, the Burisma, looking the other way on all this, this was supposed to be the nest egg, a little bit of, you know, maybe they could even call it hush money to say go away and go enjoy your Ukrainian money. | ||
unidentified
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A quid pro quo. | |
A Ukrainian quid pro quo, if you will. | ||
And keep in mind, keep in mind that, you know, fast forward a couple years, President Trump gets impeached for asking, For asking who, Zelensky, who's on the other end of the perfect phone call, asking him about the crimes that Joe Biden just pardoned his own son for. | ||
Repeat that. | ||
Nobody in the mainstream media, nobody in the right is talking about this. | ||
This is the key point. | ||
Talk to me about the impeachment, how it links back to this party. | ||
This is the Vindmans. | ||
This is Eric Charamella, by the way. | ||
We're going to say this. | ||
And this was the problem of the rat's nest of the original NSC of the first Trump administration. | ||
Because you had so many people who were there. | ||
McMasters came in. | ||
McMasters came in and was lying to him about troops where? | ||
In Syria. | ||
And saying we need boots on the ground. | ||
We need to fight more against Assad. | ||
Because he wanted to get more Americans involved in a ground war in Syria. | ||
That was McMaster. | ||
Then you have these NSC types who they would they were told to be left on. | ||
I said, don't worry about him. | ||
These are career professionals, career professionals. | ||
We got to leave them on. | ||
And there were people who were associated with Trump's original NSC who said that they should stay and say that they shouldn't be left off like the Vendmans, both brothers, by the way. | ||
And like Eric Charamella, all of who leaked the transcript of. | ||
And by the way, they edited the transcript when they sent it over. | ||
They made the whistleblower report. | ||
Remember, they never gave you the actual transcript of quid pro quo wasn't there. | ||
Even Zelensky at the time came out and said there was no quid pro quo, felt no pressure. | ||
And President Trump had said that when he met with with him at Trump Tower here a couple of weeks ago. | ||
And all of the all of this was predicated on President Trump reading about Burisma, reading about the inextricable link of the Biden criminal family enterprise to Ukraine, realizing that there was something wrong that had gone on there. | ||
And going to Zelensky who had run at the time. | ||
Keep in mind, 2019, he had just been elected at this point and his only election, by the way. | ||
And he was saying that he was running on anti-corruption. | ||
That's what Zelensky first ran on. | ||
So Trump calls him up and says, hey, make good on this. | ||
What's this whole deal with the Biden family, Burisma? | ||
And keep in mind that Ukraine and Russiagate had already been waged quite strongly at this point. | ||
You're in the midst of Mueller. | ||
You're in the midst of all these things. | ||
And it was the Ukrainians, remember, They used the lessons of the color revolution on Trump in his first term and then to steal the second election. | ||
He's calling the play because he sees what's going on. | ||
He says, wait a minute, something went on in Ukraine and that's similar to what's going on on me here. | ||
So if I pull, he understands where the house of cards is. | ||
If I pull this card... | ||
And this is why Kash Patel is essential. | ||
And this is why... | ||
They will move out everything to stop cash, right? | ||
This is why they will say that cash – who's got the resume, by the way? | ||
He's got the resume, and you can't take it away from him. | ||
He's got awards for terrorists that he was capturing and tracking down under the Obama DOJ. He was hired by the Obama DOJ. He's got a resume after being hired by you guys, your national security division. | ||
By the way, prosecuted more cases than – wait for it – Kamala Harris. | ||
All right, so more qualified than Kamala Harris when it comes to actually being a trial lawyer and having the qualifications to do this. | ||
But the issue is that he had also been a public defender. | ||
And by being a public defender, he understood what it meant for someone to be wrongfully accused by the U.S. government. | ||
Steve, you might know something about that. | ||
And so Cash goes in there with Devin Nunez, and he just starts reading. | ||
He just starts reading the documents, and he's one of these guys, and Raheem was saying it earlier. | ||
And then Paul Ryan makes Nunez recuse himself, right? | ||
The whole thing is a complete setup, and this is why Cash knows it. | ||
Okay, I've only got a couple minutes. | ||
I know you've got to get ready for the show. | ||
Your show is very special today. | ||
Who are you going to have? | ||
We've got Darren Beattie in studio right here at this desk. | ||
It's Dirty Laundry Day. | ||
It's going to be Dirty Laundry Day for the regime. | ||
We're going to walk through Ukraine. | ||
We're going to walk through Syria. | ||
Professor Beattie will be here in studio. | ||
He's driving up. | ||
It's Dirty Laundry Day, and we're so excited to air it. | ||
Just as a headline, you've got to watch Jack at 2. We're going to be back 5 to 7. We're actually going to have about the Supreme Court case tomorrow on transgender ideology. | ||
This Tennessee case is going to be important. | ||
We're going to have a whole hour on that. | ||
I'm going to host that at 6 o'clock. | ||
Jack, Ukraine, the battlefield conditions. | ||
Is Ukraine going to collapse so much is going to put President Trump at a disadvantage trying to cut a peace deal? | ||
Well, the disadvantage would be from a perspective of how much of Ukraine do they want to remain on to? | ||
Well, if they go to the Nipah, you know their history. | ||
I mean, you're an intelligence officer. | ||
They didn't give up a lot after World War II. Zelensky has never said before that he'd be willing to give up territory, and he said that this week. | ||
He has said that this week, but he wants, in exchange, NATO membership. | ||
Wasn't that what caused the war in the first place? | ||
That's what caused the war in the first place. | ||
I don't think that will happen. | ||
The Russians have said no. | ||
Zelensky has also rejected security assurances in exchange for NATO membership. | ||
So essentially, what Russia is going to then do and what the hardliners are calling for is they are going to turn Ukraine into – just given the current trajectory, they are going to turn Ukraine into a rump state, a dysfunctional rump state. | ||
Which has potentially – and if they get everything they want, they don't just want all the way from the four provinces, the four oblasts that they have already. | ||
They want to go back across the river and they want to take Odessa. | ||
You take Odessa. | ||
You take the entire coastline, Nikolaev, all the rest of it, cut off Ukraine from the Black Sea. | ||
So you then cut them off from the ability to export any of that grain from the black soil. | ||
Remember, they're the Kansas of Europe, right? | ||
Or Eurasia. | ||
And they're the only place in the breadbasket of Europe that is not controlled by the EU, so they don't have the ban on the GMOs. | ||
This is why Monsanto, that's why all those at BlackRock, all the rest of it, that's why... | ||
All the demons are there. | ||
That's why they want to get in. | ||
So you put that all together and Russia will say, fine, we're going to take complete control of this and you want anything else, you can come out of us. | ||
And a state like that is just not going to have anywhere near the economic prosperity to exist on its own. | ||
That rum state collapses itself. | ||
Charlie Kirk follows us here at noon. | ||
Jack Basobo is going to be at 2. We'll be back 5 to 7. We've got a one-hour special tonight, six you're not going to want to miss on the transgender ideology at the Supreme Court, arguing the Supreme Court tomorrow. | ||
Where do people go for you? | ||
Your Twitter feed now more than ever, Jack, is real-time breaking news on the Third World War. | ||
Where do folks go? | ||
Look, it's the Twitter feed. | ||
Of course, people can see this. | ||
This is the Imperial War that we are in. | ||
We're putting up, by the way, a new, putting the finishing touches. | ||
The audio book for Bulletproof will be out very soon. | ||
Read it myself this time around because people said they wanted it. | ||
So we're going to put a bundle up for Bulletproof and on humans for Christmas. | ||
And then, of course, today the Dirty Laundry Day on Human Events Daily. | ||
Myself, Professor Beattie, we are going to go all around the horn from Mackinder to Kennan to Mahan. | ||
Mackinder, a little geopolitics there. | ||
A little bit, a little bit. | ||
Jack Posobiec, Darren Beattie at 2 o'clock right here on Real America's Voice. | ||
Okay, make sure, by the way, Cash, you want to know about the target list? | ||
Is that what you call it, a hit list? | ||
No, no, no, Steve. | ||
No, no, no, no, no, no. | ||
Persons of interest. | ||
Go to warroom.films. | ||
You've got government gangsters. | ||
We took the book and we made a film with cash. | ||
It's must-see. | ||
It came out a couple months ago. | ||
I guess it came out right when I was about to go to federal prison. | ||
Short commercial break. | ||
Jason Trenert's in the house next here at Real America's Voice, the War Room. | ||
unidentified
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Your arm will stand up. | |
Trump, who was elected by voters, basically begging for relief from high prices, who openly plans an inflationary trade war, with tariffs so insane that even Canada's most famous right-wing politician, Ontario Premier Doug Ford, said they were like a family member stabbing you in the heart this week. | ||
Mexico's president sent Trump an open letter blasting the tariff threat, suggesting the U.S. would face punishing tariffs from retaliation, which is usually how this goes. | ||
And still, many Americans seem to be taking Trump neither seriously nor literally on this campaign promise. | ||
If you're one of them, you might want to take note of a Trump administration appointment today. | ||
Trump announced his choice to be the U.S. trade representative, a lawyer named Jameson Greer. | ||
Now, Greer previously served as chief of staff to Trump's former U.S. trade representative, Robert Lighthizer. | ||
He's the architect of that tariff, the tariffs they did the last time around on $370 billion worth of Chinese imports. | ||
Those tariffs, as we've reported on the show, spurred a trade war, nearly broke the backs of American farmers who lost access to their top Asian market. | ||
Just like the Tories and Trust in London two years ago, Donald Trump has told us what he plans to do. | ||
And just like then, the critics have said, this looks like it's going to be devastating if you do it. | ||
And now, I guess we just wait, right? | ||
To see if we're about to enter the finding out phase of the story. | ||
unidentified
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If we were to get in a situation where investors are spooked by the bond market, you could easily see, you know, pretty good sell-off. | |
And also you could see that the steeping would have to happen pretty drastically. | ||
And, you know, the market's just not looking at that. | ||
But duration risk is not priced properly. | ||
And not only enough, there's a pretty concrete example of this exact same thing. | ||
Okay, when I got one of the most brilliant guys on Wall Street. | ||
Okay, here's the thing. | ||
And Jason Jordan joins me. | ||
We'll find out why Jason's just wandering through West Palm Beach randomly here in a moment. | ||
But you're one of the smartest guys. | ||
Okay, so this Chris Hayes last week did a very smart piece for their side. | ||
Talking about Liz Truss and the fiasco they had a couple of years ago when they didn't put any numbers and they tried to have a supply side cut without being able to back it up with a set of math and she got crushed by the bond market and trying to say, oh, F around and find out. | ||
Trump's trying to do the same thing. | ||
MSNBC today has another opinion piece how the bond vigilantes are going to come and discipline Trump, both on tariffs, on mass deportations, on Elon and Vivek and Russ Vogt, trying to disaggregate the administrative state and try to get some spending cuts in here. | ||
This is going to be a revolt. | ||
Want me through, because President Trump, on the other hand, has laid out a pretty rational plan of what to do here, but it's being misinterpreted overall. | ||
And I want to make sure this audience is ahead of this, because I can see now, since the resistance is breaking down everywhere as President Trump gets ready to go on January 20th, that they're going to try to use the global capital markets. | ||
That's what's going to discipline Trump. | ||
Well, listen, I don't think it's going to work because the U.S. has the world's reserve currency. | ||
That's something Liz Truss didn't have. | ||
And I can tell you what's being talked about in terms of Doge, in terms of Vivek and Elon, is unlike anything I've seen in the past 50 years. | ||
So the whole idea that you're going to cut government spending is really almost unheard of in the industrialized world. | ||
The night of the election, I flew to Korea, believe it or not, Where they have Mausher Law today. | ||
No, I just got it in under the wire. | ||
But by the time I landed on Thursday morning, I left Tuesday night. | ||
By the time I landed on Thursday morning, the institutional investors I talked to in Seoul, Korea, were talking about Doge. | ||
And almost with a sense of awe in the idea that an industrial power would actually seek to cut government spending. | ||
I went on to London and Europe. | ||
The same thing took place. | ||
The bottom line is that since President Trump has been elected, bond yields have come down. | ||
They haven't come up. | ||
So the stock market's gone up. | ||
Bond yields have come down. | ||
And that means they believe in his business model. | ||
And the currency has strengthened. | ||
So to me, there's something. | ||
The reserve currency gives us a lot of flexibility to do things that other countries... | ||
And he put a shot across the bow of the BRICS to say, hey, you do 100%. | ||
Now, I still think their big complaint is the deterioration of the dollar purchasing power, but his economic plan is going to take care of that. | ||
You're not going to see the deterioration you saw in the Biden. | ||
That's the central part of it. | ||
To me, the most dangerous thing for the dollar is continuing to run budget deficits that are 6% to 7% of GDP at full employment. | ||
That is very dangerous for inflation. | ||
unidentified
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Repeat that. | |
Why is that in the future? | ||
Because we've never run budget deficits of that magnitude, two trillion dollars, roughly two trillion dollars a year, when the unemployment rate was ever below seven. | ||
It's now below four. | ||
So a lot of the, this has been a smoke and mirrors economy for the last couple of years. | ||
Because of spending. | ||
Okay, the Wall Street Journal today puts on its cover above the fall, which they're telling you this important story. | ||
Le Pen, our friend from France, is bringing down the French government over a budget because their spending is a random number. | ||
Their deficit is 6% of their GDP. They can't afford it anymore. | ||
The austerity program puts it on the workers, and she's saying, no, I want to take it from the globalists. | ||
They could have a new government by this afternoon. | ||
This is a global problem, correct? | ||
unidentified
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Absolutely. | |
We're totally over-leveraged. | ||
And this is what Trump can get you ahead of, is to get you ahead of a global margin call by putting in a rational plan of, hey, we have to not just take down the deep state and the administrative state, but we have to, at the same time, with that, cut this massive spending. | ||
Amen. | ||
And that's globally. | ||
And I would say, unfortunately, there's a lot of people in Washington and a lot of people around the world that are more interested in being citizens of the world. | ||
Then citizens of the United States. | ||
I know the international post-war, international rules-based order was designed to get peace. | ||
The problem is it went too far. | ||
And you're hurting American people, especially since China joined the WTO. So that's over. | ||
You're a big fan of Scott Besson and his plan. | ||
Huge fan. | ||
Okay. | ||
And you're a fan of his because he's not just brilliant. | ||
He's a safe pair of hands, right? | ||
Absolutely. | ||
And you need a safe pair of hands. | ||
You've got to have these rag... | ||
Cash Patel, Hegseth to go into these apartments and disaggregate. | ||
For the Treasury, you need a guy that the capital markets, when he says something, they believe it. | ||
His 3-3-3 program is 3% economic growth predicated upon doing spending cuts, right, and revenue growth that gets us to 3% deficit, not a 6% or 7%. | ||
That's right. | ||
And then he wants, I think, 3 million barrels or, you know, Because cheap energy is the predicate in the industrial age for a growing economy. | ||
Am I wrong on this? | ||
It is an immediate productivity enhancement. | ||
And why on earth would a country not take full advantage of its own natural resources? | ||
Up until 1945, countries would go to war with one another over natural resources. | ||
Here we're ignoring them and basically enriching countries like China that say that they're good actors on the environment, which we all know is a joke. | ||
So this is something we have to start focusing on mending fences here at home, on bolstering the middle class here at home, because it's been too long. | ||
And the system that we've created has been enormously good for rich people, but it's been terrible for the average person. | ||
We have this thing you might know, the common man CPI, which just looks at things that... | ||
It's food, energy, shelter, utilities, children's clothing, and insurance. | ||
What you found is that during the Trump years, people's standard of living improved. | ||
Wages exceeded that measure of inflation. | ||
In the Biden years, people have gotten 5% or 6% poorer. | ||
And that, in my opinion, is exactly why Biden lost. | ||
And you said this was reflected on the the country did a gave a verdict on the Biden economy on November 5th. | ||
unidentified
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Absolutely. | |
Because, you know, we had a referendum based on Biden's economy. | ||
Absolutely. | ||
unidentified
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Right. | |
And you can see like on on the surface, you say, well, you know, unemployment rates for and stock prices are high. | ||
Inflations come down. | ||
But why didn't it translate into more votes? | ||
It didn't translate into more votes because it was enormously good for wealthy people and not good for the average person, the common man. | ||
I feel very strongly about that. | ||
I also think the Fed has contributed to that in a very big way through something called quantitative easing and the size of their balance. | ||
Talk to us about that. | ||
Basically, what the Fed has done is largely underwritten the amount of debt. | ||
And they talk about bond market vigilantes. | ||
You might remember James Carville in 1994 said, I want to be reincarnated as the bond market because it scares everyone. | ||
One of the unfortunate parts of having QE or having the Fed expand its balance sheet for 15 years is now the bond market doesn't scare anyone. | ||
And Republicans, Democrats alike think it's really just a free pass to spend money they don't have. | ||
We have to get off of that because, again, it's extremely regressive. | ||
If you're a rich person with a private equity portfolio or venture capital, you do great. | ||
If you're just a person that has a savings account, you get close to zero for 12 years. | ||
It's unfair. | ||
unidentified
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Exactly. | |
Unfair. | ||
One of the things we try to do here with the audience, our working class and middle class audience, is to talk to them about, for years, Washington played like free money because deficits don't matter and doesn't impact anybody. | ||
Right now, the federal debt on, I think, households, $100,000, individuals, $100,000, households, like $225,000. | ||
The refinancing of the $36 trillion The refinancing, particularly the one-third, has to be refinanced. | ||
And like Janet Yellen is doing it, like we're Argentina, or like old Argentina, right? | ||
That is impacting, that impacts inflation into the system where it can't come. | ||
That's where people are saying they know something is intuitively wrong. | ||
They didn't go to Harvard Business School because they can't point it out. | ||
But that is the central problem of the system today, correct? | ||
Amen. | ||
The US, unfortunately, under Janet Yellen, especially over the last year, has essentially taken out an adjustable rate mortgage on America's future. | ||
The average person would take out a 30-year fixed mortgage at low interest rates. | ||
Janet Yellen took out an arm. | ||
So 55% of our Or even worse, paid your mortgage with a credit card. | ||
Right, precisely. | ||
So now every time we have bonds that mature and we have to issue new bonds, the interest rate is higher than the old interest rate. | ||
So our deficit is increasing just on interest expense alone. | ||
So you get nothing for that. | ||
It's not productive. | ||
And again, I think it was a very crass political move on the part of the Treasury Department to try to help President Biden get re-elected. | ||
And, you know, I would say the new administration, the Trump administration, is going to have to work with this, is not being dealt a great hand here. | ||
And that's why the cutting spending, government spending, is an integral part of what has to be done. | ||
Be specific, because I've said, as specific as you can, I know you're in discussions with folks around here. | ||
We'll talk about that in the next segment. | ||
When you say, because I keep saying in World War III, they're trying to jam Trump up. | ||
On the border, they're trying to jam Trump up and laying more people in before they leave. | ||
Talk to me about how President Trump's got a bad hand. | ||
He's been dealt a bad hand because, again, part of the reason why the economy is growing is because we're running budget deficits of 6% to 7% of GDP. And creating government jobs or government adjacent jobs. | ||
That increases GDP, except in the wrong way. | ||
It's not through the private sector. | ||
It's not through productive ways. | ||
It's through spending more money. | ||
So if you're going to try to reel that in, you need something to replace it. | ||
And what I think President Trump is trying to do, and he's going to do, is going to focus on productivity in the private sector. | ||
This is why Besant keeps saying this is the last chance for a supply-side tax cut, deregulation, de-administrative state to get back to the animal spirits of our economy. | ||
Yeah, absolutely. | ||
Because that's the only way out. | ||
Government does not create anything. | ||
Government is basically – government can set the tone, rule of law, all those things. | ||
It's not completely unnecessary. | ||
But in terms of industrial policy, government spending to spur economic growth, it doesn't work. | ||
The private sector always does it better. | ||
And in my opinion, this is why it's going to be difficult for the new administration in a way because they are being dealt overspending and also a term structure of the debt outstanding that is extremely short. | ||
So this is why the cutting government spending is so important. | ||
You can maintain tax rates where they are if you actually start to cut the administrative state. | ||
This is going to be vote at OMB. | ||
It's going to be the appropriations process. | ||
It's going to be the team of Vivek and Elon and their other team pulling together great people over at Doge. | ||
OK, we're taking a short commercial break. | ||
A couple of things. | ||
Make sure if you want to see Cash Patel's The Government Gangsters in film version produced by yours truly. | ||
Make sure you go to warroom.film. | ||
You can go there right now, download it, talk to your friends about it. | ||
He walks through the whole deep state, the disaggregation of it. | ||
Actually talks about those people that drove it. | ||
So it's brilliant. | ||
It's an adaptation of his very powerful, best-selling book, Government Gangsters. | ||
Birchgold.com, birchgold.com slash warroom, the end of the dollar empire. | ||
Remember, Rachel Maddow and your team, we're not trying to destroy the dollar empire. | ||
We're actually talking about the elites in our country because the spending have tried to destroy it and what has to happen to get it back. | ||
But birchgold.com. | ||
You get to talk to Philip Patrick and the team or use your phone, Bannon 989898. Okay. | ||
We've got a lot going on. | ||
Jason Trenner has joined us here in West Palm Beach. | ||
We're going to take a short commercial break. | ||
We'll be back in the warm in just a moment. | ||
unidentified
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Spread the word all through Hong Kong. | |
We will fight till they're all gone. | ||
We rejoice when there's no more love. | ||
Let's take down the CCP! Here's your host, Stephen K. Band. | ||
Jason Trenner, are we going to get a lot more of this? | ||
You've seen France. | ||
The government's probably going to fall today on exactly the thing. | ||
They're trying to take the deficit from 6% to 3% of GDP. Le Pen is saying you're not going to do it on the back of workers. | ||
You're going to do it on the back of globalists because she knows that we have to do it. | ||
Is that going to happen throughout the world? | ||
I think so. | ||
I think with President Trump in office, I think that's going to happen. | ||
I was, after Korea, I went to Europe, talked to institutional investors there. | ||
They're actually quite excited. | ||
About the idea that Doge will force the hand of European governments to actually live within their means and actually start making smart choices to prioritize the spending they have. | ||
I believe France's government spending as a percentage of GDP is close to 60%. | ||
I have a double check. | ||
unidentified
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The deficit, I think they said, is six times. | |
But their government is – their economy is almost completely driven by government spending. | ||
And that's why there's no – there is no Max 7 in Europe. | ||
There is no Max 7 anyplace else. | ||
It's all happening here. | ||
And so I believe very strongly that if – politicians have to be forced, unfortunately, to do the right thing. | ||
President Trump is going to force other countries to do better things. | ||
And that's the lie about the bond vigilantes. | ||
That was to control Clinton and these other people. | ||
President Trump's actually driving the narrative that the bond market will respond to. | ||
Now they're saying we don't need, you're not going to do mastery potential. | ||
There's all kind of noise. | ||
But right now the bond market is saying we like the cut of this guy's jib. | ||
We like the cut of Elon's jib, Vivek, Russ Vogt. | ||
We like the team we're seeing because they're serious. | ||
I can tell you, Steve, in my career, some of the most dangerous words to say is the market is wrong. | ||
And markets don't always get it right, but generally speaking, you've had a lot of time to digest this, and everything's gone the right way. | ||
Currency is strengthened, bond yields are down, and stock prices are up. | ||
That's telling you that, I mean, the devil will be in the details and the execution, but it's telling you that the direction the new Trump administration is going in is a very positive one. | ||
Real quickly, you're down here, obviously, talking to people, helping out where you can. | ||
What do you think about the team he's putting together? | ||
Well, listen, I think it's tremendous. | ||
I'm trying to help out any way I can, but listen, the transition team, I think, it looks like a well-oiled machine. | ||
They're getting great people that want to help, and for the right reasons. | ||
Capitol Hill, your sources are telling you about Scott Besson's confirmation of Secretary of Treasury. | ||
Oh, I think that's a layup. | ||
It's a layup because also Scott's a markets guy, which in my opinion, given all the things we've said, it's important to have someone that has that kind of experience. | ||
This is why he was perfect casting for this because all the other people you have, they're going to go off the administrative state, the deep state, everything you need to do, the mass deportations, you need a steady Eddie that the global capital markets know, understand, and trust. | ||
Right. | ||
And right now, we have an academic in there. | ||
A disaster. | ||
Nice person. | ||
But, you know, I think we need somebody that's kind of from planet Earth, you know, and not from a faculty lounge that knows how markets work. | ||
The Common Man CPI, all the other stuff, newsletter, if they're sent, you've got this fund out there that trades in this stuff. | ||
Where do people go? | ||
Yeah, so strategusetfs.com, and the fund is Strategas Macrothamatic Opportunities Fund. | ||
S-A-M-T is the symbol. | ||
And the fund itself, the concept of it is what? | ||
We focus on big themes and we rotate in and out of themes when we think themes are changing. | ||
But right now it's artificial intelligence, it's industrial power, which we think is going to be enormous to fund artificial intelligence. | ||
And to power. | ||
And to power. | ||
To fund it. | ||
The Green Deal deal is not going to happen. | ||
We're not going to do that. | ||
No. | ||
D-globalization, it's nuclear, it's all of the above, but it's not the Green New Deal. | ||
We're working the big muscles. | ||
D-globalization is another thing we have in there. | ||
I tell you what, I would hope the transition spends a lot of time with you, sir. | ||
unidentified
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Thank you. | |
The team that President Trump is fielding on economics and capital markets is the best I've ever seen, and I think Jason Turner would be a great addition to that team. | ||
Thank you so much, brother. | ||
Thank you, sir. | ||
I knew you weren't down here working on that handicap. | ||
You're what, a 12? | ||
14. 14? | ||
Okay. | ||
Generous. | ||
President Trump will ask that. | ||
Make sure you're not sandbagging him. | ||
unidentified
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Make sure you're not going to sandbag him. | |
Jason Trenner, thank you so much. | ||
HomeTitleLock.com. | ||
Make sure you go to HomeTitleLock. | ||
We just talked about right now with the debt, I think it's every person. | ||
It's $100,000. | ||
Every family, I think it's $225,000. | ||
That's the rough number. | ||
Like you got a second mortgage. | ||
Your home's your castle. | ||
Make sure nobody can get into your title and monetize it with a hard money lender because they don't want to hear your tale of woe. | ||
Go to hometitlelock.com slash Bannon. | ||
Talk to Natalie Dominguez and all the team over there. | ||
Also, warpath.coffee. | ||
How do we get jacked up here early in the morning? | ||
In the war room, Warpath.coffee. | ||
5,000 five-star reviews for Tej Gill and the team of Navy SEALs over there that put that coffee together. | ||
Just unbelievable. | ||
My favorite, particularly the dark roast, the French roast. | ||
Worked on that for years. | ||
Mike Lindell joins us. | ||
Mike, what do you got for us? | ||
Talk deals, brother. | ||
People heard enough talk about the economy. | ||
They want to talk about their personal economy. | ||
What do you got for us? | ||
We got some personal stuff going on here real good. | ||
The War Room supported us and we're giving back. | ||
We're giving back. | ||
We're running this Cyber Monday and the Black Friday deal is exclusive for the War Room. | ||
We're keeping it going. | ||
And all the ones you guys have responded to, the one in the middle there, this is the MyPillow Premium. | ||
This is the queen size, you guys, $18.98, $19.98 for the king. | ||
This is the one we've sold the most of, upwards of 84 million MyPillows because they work. | ||
Remember, you can wash and dry them, 10-year warranty. | ||
And by the way, all these products, you see the 749 MyPillow 2.0, they're the best Christmas gifts ever. | ||
And what we've done, we've extended for you the 60-day money-back guarantee to March 1st of 2025. So for any reason, any of these things you buy for Christmas, you got that guarantee, but they're gonna love them. | ||
There you got for yourself the mattress topper. | ||
You've all wanted me to keep that one up there. | ||
$99.98 for the Queen. | ||
The King, just a few dollars more. | ||
And all of these, the slippers on sale. | ||
People forget about that, but there's the bathrobe. | ||
We were running this all for the War Room Posse. | ||
A lot of these exclusives that are on this page, but get there. | ||
We have over, I think it's over 300 products and thousands of SKUs. | ||
Another one I want to mention, Steve, is everything is also on sale for the War Room Posse War Room at mystore.com, everybody. | ||
Thousands of entrepreneurs have their products up there for the Black Friday special and Cyber Monday and for the War Room. | ||
This is a War Room exclusive over there, mystore.com, mypillow.com. | ||
The operators will take both websites, 800-873-1062. | ||
This is giving back to you guys. | ||
We want to say thank you, thank you, thank you, Steve. | ||
Thank you, brother. | ||
Appreciate you. | ||
I'll see you in the afternoon show. | ||
Mike Lindell. | ||
Keep it right here on Real America's Voice. | ||
Charlie Kirk, two hours of populist nationalism served up hot and urgent. | ||
Jack Posobiec after that. | ||
He's got Darren Beattie. | ||
It's what, Dirty Laundry Day? | ||
Taking out the laundry day today? | ||
Okay, we're back at 5. At 6 o'clock in the 6 o'clock hour, we're actually going to dedicate the whole hour. | ||
Massive case in front of the Supreme Court tomorrow on transgender violence. | ||
Ideology coming out of the great state of Tennessee. | ||
We've got a team of experts who are going to go through all of it. | ||
You can actually argue that this is one of the key elements of the great victory of November 5th. | ||
Everybody go to warroom.com right now. | ||
Check it out. |