Feb. 18, 2025 - Bannon's War Room
48:49
Participants
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| Speaker | Time | Text |
|---|---|---|
| Look at this trend line here. | ||
|
unidentified
|
U.S. support for Ukraine is too much. | |
| Back when the war began, back in February of 2022, it was just 7 percent. | ||
| Up like a rocket ship. | ||
| My goodness. | ||
| Up now in February of 2025 to 40. One percent. | ||
| And the clear majority of Republicans, and of course Republicans are in charge of the U.S. government now, 62 percent of Republicans say that the U.S. support for Ukraine is too much. | ||
| What a difference from just three years ago. | ||
| I can remember, John, all those backyards in the United States with those Ukrainian flags, far fewer of them today, as Americans' opinions on Ukraine have changed dramatically. | ||
|
unidentified
|
What about opinions of the Ukrainian president? | |
| Right. | ||
| You know, obviously, if you would expect changes amongst the public on feelings towards Ukraine, Feelings towards Zelensky have changed also dramatically. | ||
|
unidentified
|
Look at this. | |
| Confident Zelensky will do the right thing when it comes to world affairs. | ||
|
unidentified
|
Back in 2022, it was the clear majority. | |
| 72% through the floor. | ||
| Through the floor by 2024, just 48% of Americans say that they're confident that Zelensky will do the right thing when it comes to world affairs. | ||
| And GOP confidence has also plummeted dramatically. | ||
| Now the clear majority of Republicans are not confident, not confident that Zelensky will do the right thing when it comes to world affairs. | ||
| Really, a real trend line, ones you rarely see in the American public when it comes to Ukraine and Zelensky. | ||
| Confidence in both. | ||
| Going down through the grave. | ||
|
unidentified
|
Look, some allies of President Trump have targeted Zelensky with harsh criticism over the last few years, and it could be that that's having some impact here. | |
| Absolutely. | ||
| The Republican establishment, the Republican electorate has moved as the Republican establishment and Republican leaders have moved on. | ||
|
unidentified
|
All right, let's talk about the idea of a peace deal. | |
| And again, the way you ask this matters, but go ahead. | ||
| The way you ask it is important, so we can talk about this a little bit. | ||
| So the poll question essentially is, do you support a Russia-Ukraine negotiated peace deal? | ||
| The vast majority of Americans, this is what they want. | ||
| 78% say that they support this idea versus just 16% opposed. | ||
| Of course, as we were talking about, does this question actually get at what's going on right now? | ||
| I think you would say that it probably does not necessarily get what's going on right now. | ||
|
unidentified
|
No, the question asked, do you support a Russia-Ukraine negotiated peace deal? | |
| Ukraine's not there at the negotiations in Saudi Arabia this week, so the people were not asked this. | ||
| And I do think, in general, if you ask anyone in any poll, do you support peace, peace tends to rate pretty highly. | ||
| Peace tends to rate. | ||
| You rarely get 78% of the country agreeing on anything. | ||
| They do agree on the idea of a negotiated peace deal between Russia and Ukraine. | ||
| Whether the majority would agree on a Russia peace deal with Ukraine where Ukraine has nothing to do with it, that might be a different question. | ||
|
unidentified
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Hard to know. | |
| Harriet, thank you. | ||
| This is the primal scream of a dying regime. | ||
|
unidentified
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Pray for our enemies. | |
| Because we're going medieval on these people. | ||
| I got a free shot 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? | ||
|
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
|
War Room. | |
| Here's your host, Stephen K. Bannon. | ||
| Monday, 17 February, Year of the Lord 2025. | ||
| It's President's Day. | ||
| A day that we remember all the presidents, but particularly General Washington and Abraham Lincoln. | ||
| That's why it's so fascinating to talk about President Trump on a day like today, because he's the third in the triumvirate. | ||
| Ben Harnwell joins us. | ||
| Ben, we have to take a little satisfaction in those numbers from Harry Enten, because the War Room Posse and the War Room, we have worked now for three years to make sure the American people had all the facts, and once given the facts, They come to their own conclusion. | ||
| The conclusion is we've got to get the hell out of Ukraine. | ||
| We should have never been there. | ||
| This has been a disaster. | ||
| We just want to go. | ||
| Of course, the European folks in Europe are about to come upon that because they're about to have to pay the full freight. | ||
| They're going to be given an option, which we're going to talk about here momentarily. | ||
| The only thing, Ben, I question about Harry Enten is he goes, oh, as a Republican establishment. | ||
| The Republican establishment is not there. | ||
| There was video over the weekend, as you remember, Ben, with a love fest of Zelensky walking in a room and Roger Wicker and Whitehouse. | ||
| It was a bipartisan of the warmongers. | ||
| And Whitehouse said, Sheldon Whitehouse was saying, you're among friends. | ||
| So it's not just the Republican establishment. | ||
| It's the warmonger established order of the United States that's still pushing this against just... | ||
| As they said, a stunning transformation in what the American people think about this entire war. | ||
| Ben Harnwell. | ||
| Steve, good evening to you. | ||
| I think Lindsey Graham and Joni Ernst might have been in the room along with the Green Goblin this weekend. | ||
| Two absolutely useless senators. | ||
| So, in the morning show today, you asked me the question, Am I surprised by Europe's combat readiness so soon? | ||
| And I pivoted the question. | ||
| I said, look, let's just rephrase this in terms of am I surprised by their ability to be performative at such short notice? | ||
| And I said, I'm not remotely surprised. | ||
| Well, since those words were uttered on this show, Steve, we now have the confirmation of just how sadly performative the meeting in Europe is. | ||
| Paris is today with all the various heads of government from Europe, along with von der Leyen. | ||
| Let's go straight to British Prime Minister Sakhir Starmer. | ||
| This is what he says. | ||
| And Steve, before I read the quote, I just want the warring posse to bear in mind this is exactly what this show said back in October, November, leaning on reportage from... | ||
| From Foreign Policy magazine, which had said that the Biden administration was making assurances to the European capitals that if they stepped forward in their own names offering the security guarantees, the US would come to their aid in the situation that Russia actually made an attack and support them. | ||
| Only one in the whole world, and I follow this extremely closely, that only Foreign Policy had mentioned that. | ||
| So this is what Keir Starmer says today to his European colleagues. | ||
| Europe must play its role, and I'm prepared to consider committing British forces on the ground alongside others if there's a lasting peace agreement. | ||
| But there must be a US backstop, because a US security guarantee is the only way to effectively deter Russia from attacking Ukraine again. | ||
| So there's the... | ||
| There's the Brits, the wily Brits, basically saying that President Trump to the US, not so fast, come back here. | ||
| Because, of course, there's no money. | ||
| As we mentioned on the morning show today, one of the facts that we realise that there's no money is that the European Union is Ursula von der Leyen, Ursula von der Leyen specifically, president, unelected president of the European Commission, has said she's looking into Manipulating the constitution, amending the constitution so that the EU can borrow money. | ||
| Borrow money. | ||
| Put it down onto the next generations of European citizens in order to continue the fight in Ukraine. | ||
| because if there's one thing these corrupt sociopathic overlords know right down to the marrow in their bones is that this hoax has not penetrated through to the European peoples and they do not want to be paying more taxes for a war that they see no just cause in fighting. | ||
| One example of this, Steve, and I have to say this, because it's absolutely astonishing, is the situation in Germany. | ||
| This is really a statement made by Olaf Scholz, the German Chancellor, remembering, of course, that there are federal elections coming up. | ||
| This Sunday on the 23rd of February, which he is projected to lose. | ||
| And he has said that the Germans have a very, obviously a very touchy past when it comes to inflationary deficit spending because of the rise of the Nazis in the 20s and 30s. | ||
| So it's hardwired into the German nature not to do this, not like the UK and the US are doing. | ||
| And it's in their constitution that the government can't borrow in any one year more than 0.35% of its annual GDP, which is a very low number by other standards. | ||
| That is, of course, because of the German memory of how hyperinflation, runaway hyperinflation, led to necessarily, to some extent, to totalitarianism, to bring everything back under control. | ||
| What Schultz has said is that in order to circumvent this, to get more money going for Ukraine, the next government, after the elections on Sunday, will probably need to declare a state of emergency. | ||
| Astonishing thing for him to say, Steve. | ||
| And of course, they're saying that... | ||
| This is the regime, the international regime saying that Donald Trump represents the great threat to norms, checks and balances. | ||
| And here is one of the leading figures of Europe saying we need to declare a state of emergency in Germany in order to get the deficit spending high enough to fill the gap left by Americans. | ||
| Ben, I think these things are healthy. | ||
| I think it's healthy. | ||
| I think it's healthy. | ||
| They've finally come to the—it took shock treatment, but it took this past week with Pete Hegseth's speech, J.D.'s speech, Scott Besson having just tough discussions with these people about mental rights, others over there, and, of course, Posobiec and the War Room and others to let these guys know, hey, we've been talking about this forever. | ||
| We are not supplicants. | ||
| The United States are not supplicants coming to beg you to come. | ||
| We're going to cut the money off. | ||
| We're not going to put arms up. | ||
| It's one of the reasons Keith Kellogg's now on the plane to Riyadh. | ||
| There are no more troops. | ||
| There's no more money. | ||
| We're out. | ||
| We're done. | ||
| We're finished. | ||
| We're not going to do this anymore. | ||
| And now when they have to... | ||
| I like the fact that he's calling emergency measures because the German people are going to go, what the hell are you doing? | ||
| You're going to start borrowing now to put money into Ukraine? | ||
| I think it's great that Sir Keir is over there. | ||
| Starmer saying that, oh, I'm going to commit combat troops. | ||
| I want those people, I want the Europeans to step up and then see what their people in their countries are going to say. | ||
| Because the people in the country haven't been hit with the economic reality of what it means to pay 5% of your GDP for defense. | ||
| They're paying under 2%. | ||
| They're basically getting a free ride off the United States. | ||
| So I believe this is healthy. | ||
| They are treating it as an emergency because it is an emergency. | ||
| They're reading it the right way. | ||
| If they had read it any other way, I would think, wow, we've got to tell them again. | ||
| We've been telling them now since the very first month when Theresa May came over with Boris Johnson. | ||
| We told those guys and we told right after that, we told... | ||
| We told Merkel and her team, I sat down with the National Security Advisor and gave it to him with both barrels. | ||
| Look, dude, we're going to be out. | ||
| You guys are going to have to step up to the plate here. | ||
| And this is well before the invasion. | ||
| That if they thought the Russians were such a threat, they got to kick up the spending. | ||
| They're not going to draft off us. | ||
| I think it's positive they're taking it as an emergency and looking for emergency measures. | ||
| Ben Harnwell. | ||
| Well, obviously, as someone who lives here in the European Union, I don't want to see myself living under martial law and military dictatorship in order for our crooked regimes across continent Europe to fight an enemy, Vladimir Putin, than they themselves, to some extent, created in manufacturing this war going back to 20... | ||
| In fact, I only think I pay enough tax as it is. | ||
| I should pay less in tax. | ||
| I don't want to be paying more. | ||
| And as I said on the show in the morning, in the European stock markets, in London, in Berlin, in Italy, the various national sectors of defence have all had a bounce between 4%, 5%, 9% in expectation that their arms industries are going to start gearing up. | ||
| I don't have a problem paying in tax. | ||
| I don't think anyone has a problem, not in Europe, not in the UK, not in America. | ||
| No one has a problem paying in tax when it comes to legitimate areas of national defence. | ||
| But there has never been explained, as you pointed out from day one, there has never been an explanation of what that national defence interest is, what the vital national interests are in fighting for the defence of a country that isn't even formally an ally. | ||
| Ben, it's very late in Rome. | ||
| We know you're tired. | ||
| We appreciate you staying up to break this news to us about the media this afternoon. | ||
| What's your social media? | ||
| We'll let you punch out. | ||
| What is it? | ||
| Thanks, Steve. | ||
| Get a social media platform of choice at Harnwell, which is my surname. | ||
| I have to quickly flag up that is something that possibly you should be looking into, which is this. | ||
| The Telegraph has it. | ||
| I'll put the link on this video clip when it appears on Rumble. | ||
| Telegraph is reporting this leaked memo that we've only seen traces of in the last couple of days. | ||
| People need to see what the U.S. is trying to do with these. | ||
|
unidentified
|
Just go ahead and put it out. | |
| out. | ||
| We're going to take a short commercial break. | ||
|
unidentified
|
Here's your host, Stephen K. Mann. | |
| Okay, Birch Philip Patrick is going to join us at the bottom of the hour. | ||
| A lot going on in gold. | ||
| I want to make sure everybody gets up to date of all these things that are happening. | ||
| Make sure that the rumor mill, you heard it from Philip Patrick first, gold in London, people not delivering in the Bank of England, all of that. | ||
| So birchgold.com. | ||
| We're going to have a special, I think we'll have it by Thursday. | ||
| Excuse me, by Wednesday, by the time we have the Force Multiplier Academy. | ||
| First off, go cpac.org slash war room. | ||
| 76 bucks is the ticket. | ||
| I want to see all of you there. | ||
| Force Multiplier Academy. | ||
| We're going to have a party on Thursday night, a brunch on Saturday. | ||
| Besides doing the show three days live, four days of you throwing the Force Multiplier Academy. | ||
| I'm going to get to meet and greet everybody. | ||
| Get your selfies. | ||
| Get some one-on-one time. | ||
| Just like we've had a great run at the AmFest and the CPACs. | ||
| Looking forward to that. | ||
| In fact, we've got a video. | ||
| Let me replay that at the beginning of the next hour or at the bottom of the hour. | ||
| Birchgold.com slash Bannon End of the Dollar Empire. | ||
| Get all the free information, including go to your phone, 989898. | ||
| Text Bannon, 989898. | ||
| Get the free brochure, How to Invest in Gold in the Age of Trump. | ||
| I think that'd be quite interesting. | ||
| A lot of turbulence today. | ||
| A lot of turbulence. | ||
| One is in the courts. | ||
| So, you had one of your favorite judges. | ||
| When did federal courts start this? | ||
| Have they done this for a while, done the audio? | ||
| I know the Supreme Court does it. | ||
| Did the other federal courts also do it, Julie Kelly? | ||
|
unidentified
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Okay. | |
| Okay. | ||
| We're going to have to. | ||
| Julie, we're going to have to reboot because we can't hear you. | ||
| We'll get Julie Kelly back up. | ||
| Is that by phone? | ||
|
unidentified
|
Yeah. | |
| Okay, we're going to have to get her to a better cell zone or get her back up because there's a lot going on there. | ||
| Let's talk about my other favorite topic. | ||
| Okay, Ukraine, number one. | ||
| Multidimensional. | ||
| President Trump is trying to end the kinetic part of the Third World War, and he's doing it with a vengeance. | ||
| The team, in fact, the Russian team, I think, just arrived to Riyadh, led by Lavrov. | ||
| He's an original gangster, pretty tough hombre, tough guy, been around forever. | ||
| He will be leading the team over there. | ||
| We have Rubio. | ||
| We have Colonel Waltz, the National Security Advisor. | ||
| And Steve Witkoff. | ||
| And Witkoff has kind of become the president's go-to guy. | ||
| Who is Steve Witkoff? | ||
| Early 60s. | ||
| Buddy of the president's. | ||
| Friend of his. | ||
| Colleague. | ||
| Plays golf. | ||
| I don't know. | ||
| From the 80s? | ||
| 90s? | ||
| Knows President Trump very, very, very well. | ||
| And he's got a great demeanor disposition. | ||
| He is a tough negotiator, but a nice guy. | ||
| A good guy. | ||
| People like him. | ||
| He got the Gaza ceasefire done. | ||
| I wasn't crazy about all that, but he got it done. | ||
| It seems to have worked. | ||
| It's been a framework. | ||
| That was Whitcoff working with Qatar and going and really making Bibi kind of heave to. | ||
| You're going to let me know when we get Julie back up. | ||
| We're trying to reboot her right now. | ||
| He's leading the delegation with Secretary of State Rubio, National Security Advisor Keith Kellogg. | ||
| Didn't make the trip. | ||
| I think some of that is just a miscommunication or a misunderstanding. | ||
| They keep talking about combat troops. | ||
| He said the other day, and I love Keith, General Kellogg, but he said if Russia was to ever, you know, not live up to the agreement, we would send combat troops into Russia. | ||
| No, that's not going to happen, General Kellogg, in like a gazillion years. | ||
| We're not going to go to war directly with the Russian army and the Russian people. | ||
| Not going to happen. | ||
| They're our ally in World War II. We broke them under the Bolsheviks in the Cold War. | ||
| Not going to... | ||
| Over Ukraine and American soldiers, airmen, whatever, name it, are not going to go into Russia over Ukraine. | ||
| Not going to happen. | ||
| Ukraine is for the Europeans or the two Slavic entities there to figure it out. | ||
| And now we finally get the Europeans' attention. | ||
| That's why I think it's very positive what's happening in Europe today. | ||
| They finally, they didn't believe, it took a long time for them to get their attention. | ||
| They didn't believe President Trump, at first, one of the very first things you said, that NATO's got to stand on its own. | ||
| We're an ally, but they've devolved into a protectorate, a vassal state, and they still rip us off with the tariffs. | ||
| Remember yesterday, one of the senior German guys said, hey, you know what, we should go to zero tariffs. | ||
| Yeah, hello, thank you. | ||
| We could dig that. | ||
| This is what President Trump talks about, reciprocity. | ||
| There's a whole new economic model and a national security model, and they should notice when President Trump says hemispheric defense, he ain't kidding. | ||
| From the Panama Canal to the Arctic, with Greenland there to stand watch. | ||
| Over Russian submarines coming through the Greenland, Iceland, UK gap. | ||
| That's what it's called. | ||
| The gap between the deep fjord, basically between Greenland and Iceland. | ||
| Iceland kind of a volcano. | ||
| Put submarines right there, boom. | ||
| You can track them, you got them. | ||
| Or if the balloon goes up, it's a shooting gallery. | ||
| Just saying. | ||
| But it means our defense, and they're not in the North Atlantic. | ||
| NATO, you worry about the Russian Army. | ||
| We got the Russian Navy. | ||
| You know, deal with it. | ||
| We're there to help, but we're not there to pay for the whole thing. | ||
| That's what's gotten their attention. | ||
| Remember, finally the Germans said, hey, I've got to go to emergency measures. | ||
| We've got to change the Constitution to basically raise debt. | ||
| Yeah, like the $36 trillion we got for paying for deadbeats like you? | ||
| Deadbeats. | ||
| European elites. | ||
| Julie Kelly, how was the hearing today? | ||
| One of my favorite judges, if not my favorite judge. | ||
| Was holding court. | ||
| It takes a lot to get a judge in a federal court to open up on President's Day. | ||
| They must have been hating this, ma'am. | ||
| What do you got? | ||
| Yes, so this was Judge Tanya Chukin, the Obama appointee, who, of course, presided over Jack Smith's J6 indictment against the president that was dismissed after he won. | ||
| So she is now handling the lawsuit filed by numerous blue Democratic states. | ||
| Massachusetts, Michigan, California, and a few others who are trying to prevent Elon Musk and Doge from accessing data from seven agencies, including education, DHS, energy, et cetera, accessing that data and then using that, of course, to advise or recommend employee cutbacks or program cutbacks. | ||
| So what these states are asking for, Steve, like all of these other lawsuits, is a temporary restraining order preventing Elon Musk and Doge from accessing this data, recommending the firing of any government employees, while she considers a preliminary injunction. | ||
| Now, Tanya Chokin, surprisingly, I would say, sounded extremely skeptical about the need for a temporary restraining order, saying that it... | ||
| It is an extreme measure, and that the plaintiffs in this case, the numerous blue states, really hadn't demonstrated potential immediate or irreparable harm. | ||
| That said, she could deny the motion for a temporary restraining order, however, set a schedule for a preliminary injunction, which would put this on hold for who knows how long, but also seems to... | ||
| Support the idea that Elon Musk's role violates the Appointments Clause, which, ironically, Steve, that was what was the fatal blow in the documents case in Florida related to Jack Smith, that his appointment violated the Appointments Clause. | ||
| So anyway, founded today, again, she may deny this temporary restraining order. | ||
| However, set a schedule for a preliminary injunction. | ||
| And again, consider the fact that Elon Musk, his role violates the Appointments Clause, which if she does, that would set up a fight to the Supreme Court, but could put Elon Musk's authority and his tasks on hold for an unknown amount of time. | ||
| Let me ask you, so did she slow anything down today? | ||
| Is there a TRO or an injunction? | ||
| Where does she actually stay? | ||
| Is all engines stop? | ||
| Are she letting work proceed as this goes through and they get ready for more detailed arguments in front of her? | ||
| Right. | ||
| So she right now is contemplating this temporary restraining order. | ||
| She said that she would file her order within the next 24 hours to your point. | ||
| She scheduled this hasty hearing on President's Day, federal holiday, when the courts are usually shut down. | ||
| Nonetheless, still this hearing, remote hearing, where the public actually call in and listen to it. | ||
| So either tonight or by tomorrow morning, she will issue her order, whether she's going to grant or deny this temporary restraining order. | ||
| But again, sounded like she would consider preliminary injunction. | ||
| And of course, Steve, this is what's happening in most of these D.C. courts where these judges are instantly issuing temporary restraining orders. | ||
| contemplating a preliminary injunction, which of course would be a more permanent solution, at least as it makes its way to the appellate court and the Supreme Court. | ||
| But this is what these judges are pretty much unilaterally doing in Washington, D.C., is exercising their judicial authority to thwart the Article II authority of the president in deciding his team and deciding what federal agencies need to be pared back, is exercising their judicial authority to thwart the Article II authority of the president Thank you. | ||
| Did you think that the administration, President Trump's team, have a pretty compelling argument? | ||
| Or that it was just, it didn't even get into that level of detail? | ||
| I mean, I think that they do, because what you have to prove for a temporary restraining order, and again, Judge Chuckson was very skeptical of the blue state's argument here. | ||
| Is that this restraining order has to be imposed to prevent irreparable and immediate harm. | ||
| And she said, well, I really don't see how this will, where the immediate irreparable harm is. | ||
| And the state's lawyer, this is the AG from New Mexico, said, well, we're states, we rely on federal funding. | ||
| We need to know if certain people are going to be fired, if these programs are going to be defunded because it impacts our ability. | ||
| We do execute our own services at the state level. | ||
| So she did seem skeptical, but Steve, she pushed back on the DOJ's lawyer, of course, representing the Trump administration, demanded to know how many people have been fired so far. | ||
|
unidentified
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I tell you what, Julie, hang on. | |
| We're going to take a short break. | ||
| We'll be back in a moment. | ||
|
unidentified
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Here's your host, Stephen K. Mann. | |
| Philip Patrick's going to be with us in a second. | ||
| Every day we have a show. | ||
| Don't talk about capital markets economics like a day without sunshine. | ||
| There's a gap. | ||
| The Hill newspaper today kind of said what the secret was. | ||
| Lindsey Graham would talk to the president. | ||
| Hey, we've got to go two bills, not one big, beautiful bill, because we've got to get the $175 billion for the wall and the deportations and a $100 billion tip to the Pentagon. | ||
| Let's round it up. | ||
| It's $300 billion of new spending. | ||
| Over and above the six and a half. | ||
| I kid you not. | ||
| And the Hill newspaper showed that you got to get it in before I'm going to pick a magic date. | ||
| Midnight on the 14th of March. | ||
| We're hurtling down there, folks. | ||
| Get ready for a big old CR that goes to the end of the year. | ||
| Of course, we're going to fight that. | ||
| Because it's absurd. | ||
| It's Biden's numbers. | ||
| It's his budget. | ||
| It's two trillion dollars of deficit. | ||
| And none of the Doge stuff gets included in there. | ||
| If you just do it that way. | ||
| Anyway, they need taxes. | ||
| They need tax revenue. | ||
| Tax Network USA slash Bannon. | ||
| Go there right now and get a free consultation on that letter. | ||
| It's sitting in your desk. | ||
| That's like a cancer because the fees are growing, the penalties are growing, the interest is growing. | ||
| It's not going to stop. | ||
| Call the people. | ||
| Contact the people at Tax Network USA. Walk them through your tale of woe and see if they can help you. | ||
| If they can help you, boom, they're your guys. | ||
| If they can't help you, then you've got to contact the IRS. But whatever you do, you've got to tear open the letter and address it today. | ||
| Tax Network USA slash Bannon. | ||
| Julie Kelly, the point of the exercise, ma'am, correct me if I'm wrong, they want to know how many people Elon Musk and the Doge team have laid off. | ||
| Basically, they were hunting for that question, including the judge from the bench, ma'am. | ||
| She was. | ||
| So she directly asked to be a lawyer if she had read reports of mass firings last Friday. | ||
| She said, I don't have confirmation on that. | ||
| And she said, well, I'm also reading reports of mass firings over the next 14 days. | ||
| What can you tell me about that? | ||
| And he didn't have an answer. | ||
| She got typically surly, as Judge Chetkin is known to do, and said, well, I want that information because why she wants it, the ruse is... | ||
| To try to prove up this irreparable harm to the states and then, of course, to the federal government. | ||
| But what I'm really going to flag here, Steve, what's important looking ahead besides this temporary restraining order and a possible preliminary injunction, is Judge Chudson setting the stage to claim to rule that Elon Musk's role violates the appointments clause. | ||
| That will sideline him. | ||
| That will make it to the circuit court and then the Supreme Court, but it will do damage to him with this idea that he should have been Senate-confirmed. | ||
| She brought that up today. | ||
| He was not confirmed by Congress, by Senate. | ||
| He exercises tremendous authority. | ||
| But how does she, but by the way, he's an advisor, the U.S. Digital Service, and maybe they shouldn't have done it that way, but they're just advisors to OMB. He's a consultant and he's an advisor. | ||
| Correct? | ||
| Correct. | ||
| But that's what she was pushing back on. | ||
| She said at least twice that the states, the plaintiffs here, had a colorable claim that Elon Musk was working outside of the Appointments Clause that as someone with this sort of authority, he should have been nominated to a real position that was created and confirmed by the Senate. | ||
| That's the big battle that Judge Chukin is teeing up today. | ||
| The temporary restraining order is just a minor issue. | ||
| This is the big battle that she's setting the stage for, in my opinion. | ||
| Okay, Julie, where do people go? | ||
| Your analysis is always brilliant and spot on. | ||
| We'll put that in the hopper. | ||
|
unidentified
|
Thank you, Stephen. | |
| There's a lot more court proceedings this week, especially headed to the Supreme Court on the firing of the Office of Special Counsel. | ||
| Somebody declassified with Julie Kelly on subject and then ask Julie underscore Kelly, too. | ||
| Do we know if the Supreme Court, on the emergency docket, they have not notified the government, i.e. | ||
| Trump, that they're going to take this case on yet, have they? | ||
| Not yet, but this is related to a split decision by the D.C. Appellate Court over the weekend. | ||
| The dissenting opinion, Greg Katzis, the Trump appointee, saying that Trump absolutely has the Article II authority to fire. | ||
| Hampton Dellinger, the Biden-appointed Office of Special Counsel, who also has tremendous power to bring Hatch Act violation investigations, etc., and that the president was well within his authority to fire him on February 7th. | ||
| Judge Amy Bourbon-Jackson restating Hampton Dellinger outrageously, and this is what looks like will be the first lawsuit to head to the Supreme Court this week. | ||
| Julie Kelly, one more time, where do folks get you? | ||
| Substack Declassified with Julie Kelly and also at AXE, Julie underscore Kelly, too. | ||
| Thank you, ma'am. | ||
| Appreciate you. | ||
| Thank you. | ||
| Julie Kelly on top of this. | ||
| Okay. | ||
| Battles in the court, battles in the streets. | ||
| Philip Patrick's gone. | ||
| A number of reports are coming out, Philip Patrick, and I wanted to go to the smartest guy I know about precious metals and gold, and that would be Philip Patrick of Birch Gold. | ||
| So a couple of things. | ||
| Over the last 72 hours that I think have a lot of interest in our audience and a lot of interest online. | ||
| Number one, there's a situation where the Bank of England, and people think, hey, the Bank of England is like the Fed, right? | ||
| Maybe even more responsible. | ||
| The Bank of England has been late or failed to deliver on some clearing of gold, and there's questions of, do they actually have the gold they think they have? | ||
| Is there anything to this? | ||
| Is this... | ||
| Is this commitment they've had to clear this within the bounds of the time frame, or does something happen here with the Bank of England, Philip Patrick? | ||
| Yeah, we're working through it. | ||
| It's certainly big news in the industry, but the Bank of England right now is under siege. | ||
| The vaults are being emptied at a rapid pace. | ||
| About 8,000 bars now have been shipped, and these are the big... | ||
| Commercial gold bullion bars, we're talking 3.2 million ounces, that's the equivalent of South Korea's national gold reserves, have now found a new home. | ||
| The media latched onto this because Deputy Governor of the Bank of England, Sir Dave Ramsden, admitted that they wouldn't be able to meet the 14-day delivery requirement, which technically could be considered now a default. | ||
| The lawyers, I think, will work through and settle that question. | ||
| At the moment, London's saying they need six to eight weeks to make a two-week delivery. | ||
| Currently, this is being described as a liquidity crisis rather than a solvency crisis. | ||
| But on the other hand, the Bank of England has been begging nations whose gold reserve that they custody to loan their gold to the Bank of England. | ||
| And that's obviously concerning in the current climate. | ||
| It seems like when a liquidity crisis becomes a solvency crisis, we only discover the truth too late. | ||
| So right now it is... | ||
| A technical default, not a solvency issue, but we're going to have to watch and see how this thing unfolds. | ||
| Hang on for a second. | ||
| The liquidity crisis is pretty bad when it comes... | ||
| What is actually delivery? | ||
| What is this transaction about? | ||
| And when's the last time, bro, you're a professional, when's the last time the Bank of England couldn't deliver and had, oh, well, we'll get to you in six to eight weeks? | ||
| That's a lot longer than 14 days, brother. | ||
| What was actually this delivery on? | ||
| And when Philip Patrick starts off, yeah, the vaults of the Bank of England are emptying even as we're speaking. | ||
| Probably got the audience more worked up now than when we started. | ||
| So walk me back through that one more time. | ||
| I take it this interview is going to take longer than I thought. | ||
| Start at the beginning. | ||
| Take your time and walk through this. | ||
| So, look, when we talk about physical delivery, we talk about physical delivery of a commodities contract. | ||
| One to two percent of contracts usually request physical delivery. | ||
| But what we're seeing at the moment generally is gold is flooding out of London. | ||
| And this was the center of the world's gold market. | ||
| There's a number of reasons why, right? | ||
| First of all, and sort of the overarching theme, is just massively increasing demand. | ||
| And you and I have discussed this. | ||
| It's being driven by central banks and investors alike. | ||
| Secondly, there's an arbitrage play here. | ||
| And this is ultimately how markets respond to price dislocations. | ||
| Right now, the gold futures price in New York is high enough over the London cash price that it's possible to rent a cargo plane, fill it with gold, and ship it to the U.S. Commodities Exchange. | ||
| This difference has always existed, but it's almost never profitable enough to warrant shipping. | ||
| Today it is because US demand is higher for precious metals, for gold specifically, than anywhere else, right? | ||
| A bar of gold is worth more here in the US today than a bar of gold everywhere, anywhere else, making the trade profitable. | ||
| On top of that, of course, we've got the potential of tariffs driving up commodity prices on all imports. | ||
| So there's massive pressure right now to onshore product in anticipation of further demand surges. | ||
| Look at JP Morgan. | ||
| They just shipped 3 million ounces of gold bullion from the London bullion market to the US. That's the second largest gold bullion delivery in history. | ||
| What this tells me, though... | ||
| I think it's a reminder that gold is almost uniquely a physical asset first and foremost, not just a financial asset. | ||
| We have to remember a lot of the trading we see in the gold markets is imaginary, right? | ||
| It's simply made up. | ||
| For some numbers, in London, there's 20 million ounces of gold that are traded every day. | ||
| That's roughly an entire years of production traded every week. | ||
| We see another 27 million ounces trading every day on the comics. | ||
| That's the entire world's production of newly mined gold traded every two and a half days. | ||
| Spoiler alert. | ||
| There isn't that much gold out there. | ||
| So as a result, 96% of the gold traded daily in London and New York markets has no physical reality. | ||
| You could think of it as Schrodinger's cat, right? | ||
| But the problem is, once the 4% of real gold has been delivered, what's going to happen then, right? | ||
| At that point, it's a logistical nightmare. | ||
| First of all, I think investors who think they own gold are going to discover that what they really own is an IOU. Secondly, I think we see a wave of defaults on physical gold deliveries. | ||
| Remember, 96% of them are by definition impossible. | ||
| And thirdly, I think those dynamics will amplify demand for physical gold because investors will realize and be reminded that only physical, tangible gold matters. | ||
| It almost reminds me of the bank failures back in 2023, right? | ||
| If I have a dollar in my pocket, it's really a dollar. | ||
| If it's in the bank, is it really a dollar? | ||
| Right? | ||
| We already know that if everyone tries to get their money out of the bank tomorrow, the banking system will collapse, right? | ||
| Because banks don't have it. | ||
| They lent it to commercial real estate developers. | ||
| And that's what the gold market is feeling like right now. | ||
| Gold as a financial asset only really works as long as everyone agrees they don't really want The phrase Bank | ||
| of England should never be... | ||
| The sentence should never end with liquidity crisis. | ||
| I've got a minute. | ||
| I want to hold you over. | ||
| How did that happen? | ||
| It shouldn't happen. | ||
| And it's a reflection of volatility around the globe. | ||
| It's a reflection of leverage going out of control. | ||
| And we're starting to feel the effect of it. | ||
| We have problems here in the U.S. as well. | ||
| You sent me an article about Elon pushing for an audit of Fort Knox. | ||
| We've got questions on U.S. gold reserves as well. | ||
| So there's a lot at play in the current climate. | ||
| There's no question about it. | ||
|
unidentified
|
But it's an interesting time to be alive. | |
| I know you're busy, but I do want to hold you just through this short break because I want to talk about this audit and how people can kind of... | ||
| I think, Phillip, I think a couple of three people might want to talk to the Birch Gold guys. | ||
| I'm just guessing. | ||
| The Bank of England can't make good on their deliveries. | ||
| I don't know. | ||
| Get Phillip Patrick on the phone. | ||
| Let's talk to the guys at Birch Gold. | ||
| Short commercial break. | ||
| Philip Patrick on the other side. | ||
|
unidentified
|
We will fight till they're all gone. | |
| We rejoice when there's no more. | ||
| Let's take down the CCP. | ||
|
unidentified
|
Here's your host, Stephen K. Band. . | |
| Okay. | ||
| I know you've got to bounce, Philip. | ||
| You guys at Birch, one of the reasons I like you, you guys just deal in physical delivery, right? | ||
| You deal in people owning the gold itself? | ||
| That's all we deal with. | ||
| Physical precious metals. | ||
| They don't sit on balance sheet. | ||
| No counterparty risk. | ||
| The individual owns them. | ||
| It's important for us. | ||
| Absolutely. | ||
| To the audit. | ||
| Give me a minute. | ||
| On the audit on Fort Knox, Ron Paul and Rand Paul have been bugging on this forever. | ||
| Why do you want to see it? | ||
| And what do you hope is the outcome? | ||
| For a long time. | ||
| I mean, we need some transparency. | ||
| Fort Knox hasn't been audited for 50 years. | ||
| Basically, the last audit was in 1974, primarily because the U.S. government is refusing external audits on the grounds of national security. | ||
| This is the part that concerns me, right? | ||
| They say that, you know, gold reserves are seen as a symbol of national credit and a public order they fear could trigger a crisis of trust. | ||
| So here's the strange thing in my mind, right? | ||
| How can an audit create uncertainty unless it discovers discrepancies, right? | ||
| The whole point of an audit is simply to examine financial records and to create certainty. | ||
| Right? | ||
| So this is reminding me of the situation with the Bank of England. | ||
| If the gold's really there, why can't you ship it? | ||
| Why can't we see it? | ||
| Right? | ||
| Why does anyone resist an audit if there's nothing to hide? | ||
| That, for me, conceptually, is just difficult to get my head around. | ||
| But I want to see it, right? | ||
| I want to confirm that the U.S. gold reserves are unencumbered, that they haven't been leased or sold to foreign nations or stored on their behalf. | ||
| But like I say, the fact that they've been resisting an audit for decades here in the United States is in on itself very concerning, despite Public calls for one. | ||
| So, you know, this is just another move for transparency. | ||
| And if Musk can pull it off, like I said, I'd be very interested to see the results. | ||
| Help me out here. | ||
| Isn't there supposed to be $750, almost a trillion dollars of implied value that it's on the books at $42 an ounce? | ||
| And actually today, mark-to-market is $29 over $2,900. | ||
| Is that... | ||
| Not an issue of the audit, but that's reality, right? | ||
| It's on the books at $42, $49, and it's actually, the mark-to-market's $29, so we have almost a trillion dollars of intrinsic value in there. | ||
| Yeah, it's exactly correct. | ||
| 4222 announces the book price, which gives about $800 billion, but at current prices, over a trillion dollars. | ||
| So that is based on published gold reserves. | ||
| We'll have to see the reality if Elon can get an audit. | ||
| But yeah, that's absolutely correct, yes. | ||
| Last thing, the gold ship, real quick, I know you've got to bounce. | ||
| There was a huge shipment from... | ||
| New York or from London to New York? | ||
| Was that the arbitrage you're talking about? | ||
| Is that normal course of business that people are just sensitive to it now? | ||
| What happened there? | ||
| It's a combination. | ||
| So it's partly arbitrage. | ||
| They see a profitable arbitrage in there and it's... | ||
| Partly demand as well, right? | ||
| Like I said, they need to get gold to meet domestic demand in the United States, and they need to do it before tariffs kick in. | ||
| So I think they're expecting a spike in demand, and we're fulfilling. | ||
| So right now, like I said, it looks like a logistics issue for the Bank of England. | ||
| You know, reaching out to foreign nations asking to lend gold reserves, that's a little bit concerning. | ||
| So I think we'll have more clarity as we head through. | ||
| Never good. | ||
| But we'll see how it shakes out. | ||
| Thank you. | ||
| I want people to come and talk to the experts. | ||
| I want people to talk to you and your team. | ||
| Where do they go? | ||
| Very simple. | ||
| Birchgold.com forward slash Bannon. | ||
| That'll get them access to free information. | ||
| If there was ever a time to immerse yourself, not to steal your words, Steve, in information, now's the time from an economic standpoint. | ||
| So Birchgold.com forward slash Bannon or Bannon, text Bannon to 989898. That'll get them access to free information and they can reach me. | ||
| At Philip Patrick on Getter. | ||
| I'm putting this stuff out all the time, all the articles, so it's there for people to read. | ||
| And this is why a tremendous amount of information for the Birch Gold guys. | ||
| Get smart and get smart today. | ||
| Philip, thank you for taking time. | ||
| I know it's a crazy day there. | ||
| Thanks for having me, Steve. | ||
| Always on the desk. | ||
| Sean Rollins joins us. | ||
| Dr. Sean, talking about tariffs, I wanted to have you on here. | ||
| You know, Rosemary Gibson dropped by the other day. | ||
| We talked about the supply chains. | ||
| It hasn't changed much. | ||
| They had this factory in Richmond. | ||
| It really hasn't opened. | ||
| Everybody's concerned about the tariff war that's coming. | ||
| CCP's making initial moves. | ||
| Jace Medical. | ||
| You guys conceived this after you read the book and saw her on the show. | ||
| On active pharmaceutical ingredients and generic drugs. | ||
| How can you help people, calm people down and say, hey, we're here for you and we can get you beyond the threats of the Chinese Communist Party, sir? | ||
| Yeah, thanks, Steve. | ||
| You know, this talk of tariffs, when we first heard about it, we figured that typically pharmaceuticals are exempt and traditionally have been exempt from these kinds of things. | ||
| But what we're hearing now is that that doesn't look like that will be the case, that these tariffs may... | ||
| May very well include pharmaceuticals. | ||
| And we're starting to see more articles written about this. | ||
| I guess in some ways, it's heartening for me to see that this is being brought to people's awareness. | ||
| The fact that, why does it matter if there's terrorists? | ||
| Well, it matters because all of our medications, virtually 100% of them, come from overseas. | ||
| And most of those come from China. | ||
| So we're seeing this education is starting to pick up. | ||
| People are starting to realize. | ||
| I suppose that we may even see something similar to what we're seeing in the gold industry, where people are becoming more aware, hyper-aware of what's going on and wanting to have these things on hand. | ||
| It wouldn't surprise me if we start to see health systems, whether that's hospitals, large pharmacies, seeing some of the stuff coming down the pipe, whether it's tariffs, whether it's just simple supply chain disruption as tensions are heating up between us and China, that people start to hold larger stockpiles of these whether it's just simple supply chain disruption as tensions are heating up between us and And this is all information that we've been really out there trying to get people to realize for years now. | ||
| And I think this simmering pot, I don't know how much longer it will simmer before it starts to boil over. | ||
| So we're here. | ||
| We're still here trying to get people access to these medications to do it in a way that they can get. | ||
| Dr. Sean. | ||
| Hang on. | ||
| I want you to stick around at the first of the hour because these things are real. | ||
| The CCP, and they've said they're just not going to sit there. | ||
| President Trump's going to put tariffs across them. | ||
| He said that. | ||
| That's going to happen. | ||
| And they're already making moves. | ||
| So we need you at the ramparts. | ||
| We cannot have your personal life and your issues and your anxiety about certain things overwhelm your ability. | ||
| To man the ramparts. | ||
| Dr. Sean, we're going to take a short break. |
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