March 22, 2025 - Bannon's War Room
47:40
Participants
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| Speaker | Time | Text |
|---|---|---|
| This is the primal scream of a dying regime. | ||
|
unidentified
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Pray for our enemies, because we're going medieval on these people. | |
| 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 try to do everything in the world to stop that, but you're not going to stop it. | ||
| It's going to happen. | ||
| And where do people like that go to share the big lie? | ||
|
unidentified
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MAGA Media. | |
| I wish in my soul, I wish that any of these people had a conscience. | ||
|
unidentified
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Ask yourself, what is my task and what is my purpose? | |
| If that answer is to save my country, this country will be saved. | ||
|
unidentified
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War Room. | |
| Here's your host, Stephen K. Band. | ||
| you you | ||
| It's Saturday, 22 March, Year Overlord, 2025. | ||
| The fight continues on all fronts for President Trump. | ||
| And yes, you're not tired of winning yet, but there's some huge, huge, massive victories. | ||
| There's also, you know, let's be honest, this judicial insurrection, judicial coup has got to be dealt with. | ||
| One thing that's happened is President Trump last night, yesterday, revoked the security clearances of Anthony Blinken, Jake Sullivan, Lisa Monaco. | ||
| That demon, Lisa Monaco, that demon at the Justice Department. | ||
| Mark Zaid, Norm Eisen, Letitia James, Alvin Bragg, Andrew Weissman, Hillary Clinton, Elizabeth Cheney, Kamala Harris, Adam Kinzinger, Fiona Hill, Alexander Vindman, Joseph Biden Jr., and any other members of Joseph R. Biden Jr.'s family. | ||
| He revoked the security clearance of Biden. | ||
| All of them. | ||
| I've got a list of what has to happen since that. | ||
| I'm going to put it up in a second. | ||
| Tej Gill, I need today... | ||
| Well, first off, Tej, since you put your life on the line with, I don't know, 12, 14 deployments in combat zones, in bad neighborhoods, when you see President Trump taking action like revoking security clearances for Hillary Clinton, | ||
| and people should know that Tej, he's now... | ||
| The head of, I think, the finest coffee company out there, and I'm an aficionado of coffee, particularly well-made coffee, and particularly the tougher ones you've got to make, which is the dark roast, because this is the finest ever, and people know I'm a dark roast fanatic. | ||
| But you got into actually doing this, coming out of the SEALs and being a contractor, or a gunman, as we call it, and then running security for me for a couple of years, and others. | ||
| You started because you got so upset and so incensed by the Benghazi situation that you guys started t-shirts and hoodies to make a point about Hillary Clinton and how the established order didn't care about the casualties. | ||
| They didn't care about the deaths. | ||
| They would put people in harm's way and not think twice about it. | ||
| And then not do anything to have people's back. | ||
| That's what got the fighting men and women in this country, I think, started to turn on this interventionist mentality. | ||
| You've got greater young patriots today than you've ever had. | ||
| I made this movie with the great Michael Pack called The Last 600 Meters. | ||
| And it was about First Fallujah, Najaf, and Second Fallujah. | ||
| In Second Fallujah, the First Fallujah and Najaf were bad. | ||
| I mean, really bad. | ||
| Second Fallujah is about as bad a fight as the Marine Corps and Special Forces have ever had. | ||
| And we took this, we were screening it for certain groups, and we screened it for a group of Force Recon Marines, World War II veterans from Peleliu, Terawa. | ||
| I mean, the killing fields, these were fights and amphibious assaults. | ||
| As bad or worse than Omaha Beach, okay? | ||
| I mean, these are killing zones. | ||
| The Force Recon Marines are the ones that go in first. | ||
| And we showed last 600 meters. | ||
| And last 600 meters basically has guys like Tej Gil kicking down 200,000 doors in Fallujah after every bad element in the world. | ||
| The Chechenins, all the bad guys in the world have gotten there. | ||
| And it is a film that's, I don't know, an hour and 90 minutes, two hours. | ||
| It's nothing but bravery the entire time. | ||
| But you see at the highest command level, not the military command, but the civilian command, it's just they're in, they're out, they can't focus, it's terrible. | ||
| So we showed it in this screening out there to these folks, the bravest of the brave, the greatest generation's greatest. | ||
| The Marines at Terawa, the Marines at Peleliu, the Marines at Saipan. | ||
| And this is the elite of the elite, and afterwards, some little, because these guys are in the 80s and 90s by that time, they turn to Michael Pack and say, I can't believe the bravery of these young people. | ||
| And you sit there and go, well, hang on, sir. | ||
| You're the greatest generation's greatest. | ||
| You're the tip of the tip of the spear for the greatest generation. | ||
| And they say, no, no, no, you don't understand. | ||
| We were 17, 18, 19 years old, and we were told you hit the beach and you're going to clear cut everything in front of you is dead. | ||
| You're going to just clear cut it. | ||
| And they're not going to move back one inch. | ||
| And there's no human thing of kicking down a door and worrying about the children running around or using the children as human shields of the wives. | ||
| He goes, I don't know if I can handle that. | ||
| I don't know if I can handle the mental stress. | ||
| And when you sit there and you talk to PAC and you see what the result of these, and then guys from Vietnam, people saying, hey, you know, the orders back then were very different. | ||
| And then you see what you guys went through and what these people went through. | ||
| You realize, and then this is why it's so powerful he cut the security clearances off these people. | ||
| And this is just the start. | ||
| Because remember, when you cut their security clearances off, they can't make, they can't dying off the, they can't live like they used to live because they monetize these security clearances to be big shots and get all these big contracts. | ||
| Taze Gill, your thoughts about, finally, You're getting the comeuppance on Hillary Clinton. | ||
| She had a security clearance stripped of her last night by the Commander-in-Chief of the United States, President Trump, sir. | ||
| I think it's long overdue, Steve. | ||
| Yeah, talking about Benghazi, she's the reason that Benghazi happened. | ||
| Obama didn't send in reinforcements when Benghazi happened, but it would have never happened if she wasn't the Secretary of State. | ||
| There was over 600 requests for security upgrades in the Benghazi State Department compound. | ||
| So if those security requests would have been answered and the security would have been upgraded at that compound in Benghazi, then that compound would have never been overran. | ||
| They had no cameras. | ||
| The gates were unlocked. | ||
|
unidentified
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The security guys didn't have their body armor and weapons on them. | |
| And they had a bunch of ragtag Libyans guarding it. | ||
| And there was no Marines there. | ||
|
unidentified
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I mean, I can go on and on. | |
| But it was a disaster waiting to happen. | ||
| And it was because she denied the security upgrades because she didn't want to put a threatening American posture in that town. | ||
|
unidentified
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The Red Cross and all the other countries had already pulled out. | |
| I think it's long overdue that she had her clearance pulled. | ||
| She doesn't need it anymore. | ||
| She's not part of our government anymore. | ||
|
unidentified
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You know, if the administration down the line brings her back, they can reinstate her security clearance. | |
| But she doesn't need it. | ||
| But she's part of the permanent government. | ||
| That's why I'm so glad it was stripped of her and the others. | ||
| You went and started doing the t-shirts and now you're doing the coffee. | ||
| Tell me, I need a cup of coffee. | ||
| I need straight. | ||
| And here's the beauty of the coffee. | ||
| You don't need cream and sugar. | ||
| This guy has worked for years to get the right beans, the right process, to do the process in a correct way. | ||
| It's not mass produced. | ||
| This is like a craft beer. | ||
| You guys do this as an art and a science. | ||
| It's a craft beer. | ||
| It's the champagne of coffee. | ||
| You can only drink this black. | ||
| Don't cut it with milk and sugar. | ||
| You're not going to get the full taste and flavor of it. | ||
| Tej, how do you do it? | ||
| Yeah, you go to warpath.coffee. | ||
| That's the website. | ||
| That's where you can buy it. | ||
| And you're right. | ||
| It is like a craft beer or a champagne of coffee. | ||
| We perfectly roast it. | ||
| We don't burn it at all. | ||
| So you can drink it just straight black. | ||
| You don't need milk and sugar to hide the... | ||
| The taste of the burnt beans. | ||
|
unidentified
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So our coffee, we roast it on a perforated drum. | |
| It's perfectly roasted, and it is amazing. | ||
| I haven't checked the last couple days, but it was somewhere around 7,500 five-star reviews, and it's constantly growing. | ||
| And we sell tons of this stuff. | ||
| We can't roast the coffee fast enough. | ||
| People love it, and you can drink it straight black. | ||
| It's healthier that way. | ||
| For the War Room Posse, we have a promo code WARROOM, and that gets you 20% off. | ||
| And the website is Warpath Coffee. | ||
| We do 20% off for the War Room Posse because the War Room Posse supports us, so we support them. | ||
| The promo code is WARROOM, and the website is Warpath.coffee. | ||
|
unidentified
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You got to try it. | |
| It's the best coffee. | ||
| We got tons of blends. | ||
| We got ground, whole bean. | ||
| We got two-pound bags, 12-ounce bags. | ||
| We got K-Cups. | ||
|
unidentified
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We got espresso. | |
| And it is all on par. | ||
| You have to try it. | ||
| Here's the thing you've got to do, is read the reviews. | ||
| Don't take advantage, don't take advantage. | ||
| Just go to the site, look at all the different, not products, but how the whole process is laid out. | ||
| Read the reviews, because these are your compadres. | ||
| These are the guys that watch the show and go on. | ||
| And 7,500, and growing hundreds, feels like every week. | ||
| It's just incredible. | ||
| Tej, one more time, where do people go? | ||
| Because it's a Saturday, and the show's all week. | ||
| There's no let-up. | ||
| I would love to talk about something light, but there's nothing. | ||
| I mean, when you're in this audience, in this movement, we're in the middle of this fight now, right? | ||
| You've got to keep fighting every day. | ||
| So where do people go to get a good, hot cup of coffee? | ||
| Warpath.coffee is the website, and use promo code WARROOM. | ||
| You get 20% off your order, and that's for the... | ||
| War Room Posse. | ||
| So, warpath.coffee, promo code WARROOM. | ||
| You gotta try it. | ||
| It's the best coffee. | ||
| Stay in the fight. | ||
| Keep watching the War Room. | ||
| And keep voting for MAGA politicians. | ||
| That's how we win. | ||
| MAGA. MAGA. | ||
| MAGA. Love you, brother. | ||
| Thank you, Steve. | ||
| Now get back to work. | ||
| Go with some more coffee. | ||
| Get back to work. | ||
| Okay, can we, Grace and Mo, can you get it in the chat? | ||
| But let's get it up on the screen. | ||
| I want to make sure. | ||
| So I thought this through last night when they revoked the clearance. | ||
| And I attached the Gunther Eagleman had put up the announcement. | ||
| So I attached it to his tweet. | ||
| And I want to walk through this. | ||
| If we can get this post up. | ||
| I want to walk through this. | ||
| So revoke the security clearance. | ||
| I said step one is complete. | ||
| Step two is revoke any government pension. | ||
| Step three, this is for these people. | ||
| Lisa Monaco, Weissman, Hillary Clinton, Kinzinger, Cheney, and many more. | ||
| Kamala Harris, Biden. | ||
| Old man Biden's got three. | ||
| So, number one's complete. | ||
| Take security clearance. | ||
| Number two, revoke any government pension. | ||
| Number three, prohibit any government work not requiring a security clearance. | ||
| So, no government contracts at all. | ||
| Number four, commence formal investigations, both DOJ and FBI. | ||
| Commence formal investigations. | ||
| Number five, subject to fruits of that investigation, impaneled grand jury. | ||
| Step six, formal indictments. | ||
| Step seven, trials. | ||
| Step eight, incarcerations. | ||
| I don't know if I left anything out, but that's the arc of what should happen with these people. | ||
| We've got to clear this rat's nest out. | ||
| This massive victory of the law firm. | ||
| They're cowards. | ||
| They will crumble. | ||
| They're not going to be talking big. | ||
| We've already done Brennan and the guys, the 51. That includes in that group, too. | ||
| When President Trump puts the stink eye on you, good things are going to happen. | ||
| This is days of thunder. | ||
| This is flood the zone. | ||
| This is everything we ever envisioned. | ||
| All the work in all those years. | ||
| Every day, pounding away, pounding away, pounding away. | ||
| Department of Education, and we haven't even time to play it. | ||
| The branch yesterday of the White House staff and people putting this together is that they put the entire $1.7 trillion loan portfolio and other new loans they're cutting off. | ||
| They gave it to the Small Business Association, Small Business Authority, to manage. | ||
| And then everything with the children, everything with health, everything with food, they gave to Bobby Kennedy over at Health and Human Services. | ||
| So they gutted 90% of what DOE does. | ||
| So the fight over Department of Education is like a rearguard action. | ||
| Every day they're pounding, they're pounding, they're pounding, they're pounding. | ||
| We need you at the ramparts. | ||
| We need you in the next couple weeks. | ||
| That's why I'm so concerned about you guys getting tied up on your home title. | ||
| If you're lucky enough, and remember, people under 35 years old, most of them don't have homes. | ||
| HomeTitleLock.com. | ||
| They get the triple lock million dollar commitment, promise, protection. | ||
| 24-hour coverage. | ||
| 24 hours. | ||
| In an alarm in the middle of the night if somebody is messing with your title because that's your contractual note. | ||
| That shows you own the real asset that you say you own. | ||
| And if all else fails, they have a $1 million restoration project, principally around legal. | ||
| Go to HometitleLock.com, Steve25. | ||
| Check it out today. | ||
|
unidentified
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Here's your host, Stephen K. Band. | |
| *Dramatic Music* | ||
| So, Philip's going to join me. | ||
| We're going to talk about the Federal Reserve, and particularly these new forecasts on growth rates. | ||
| Because this is going to get down to the economies, obviously, as we said, in the debts existential, and I'll go through some of that in the segment with Philip. | ||
| These growth numbers have concerned me a lot, particularly when the Fed comes out, and people don't, they kind of miss it. | ||
| We've got to talk about that now. | ||
| We have to talk about that now. | ||
| We'll do more next week. | ||
| Why are they saying it's 1.7%? | ||
| And you've got to back out government spending. | ||
| Back out government spending. | ||
| And people can tell the business environment is just not clicking. | ||
| Because President Trump, what he's doing, is going to take a while to take impact. | ||
| And you're still recovering from the Biden situation. | ||
| Until you cut the massive government spending, you're just not going to get there. | ||
| That's why the Doge thing is so important. | ||
| But that's why we have to, and I'm calling for the impoundments. | ||
| Andy Biggs broke it last night. | ||
| We've got to start the impoundments in the next couple of weeks to know what this number is. | ||
| Also, the Secretary of Commerce has got to, and I don't like to criticize these folks because they're under such pressure to do it, but the Secretary of Commerce ought to do more commerce. | ||
| I've got it up on Getter. | ||
| More commerce, less media. | ||
| His discussions on Social Security are not helpful. | ||
| They're not helpful. | ||
| President Trump has a very complicated This situation, which he's trying to juggle everything to bring peace and prosperity, and the pressure is enormous, as you can imagine, geopolitically and geoeconomically, with the tariffs going to go on, the reciprocal tariffs going to go on the second. | ||
| He's got a huge, huge undertaking. | ||
| He needs assistance. | ||
| We don't need diversions on, like, you know, getting this Social Security thing up bigger than it is. | ||
| And I think we do need to know. | ||
| Because this judge is now trying to shut down what is actually the waste, fraud, and abuse. | ||
| If it's there, kind of identify it, what it is, even if it's a range. | ||
| And then get back to the... | ||
| And this is why I was glad that Elon was at the Pentagon yesterday because we're not making any... | ||
| I don't see any progress at all on the Pentagon, either on the waste, fraud, and abuse. | ||
| I saw Pete and these guys came up with a couple hundred million dollars. | ||
| That's fine, but it's a $900 billion enterprise, folks. | ||
| And there are going to have to be some cuts. | ||
| You're going to get... | ||
| P.Y. Bannon, you can't say that. | ||
| We're not defense. | ||
| Hey, I'm giving you a reality check. | ||
| If you're not going to cut the defense budget, you're not going to get to the rest of the discretionary spending. | ||
| That's just the mathematics, the physics of modern American politics. | ||
| And President Trump can do a lot, but right now he can't change the law of that part of the physics. | ||
| Right? The votes are just not there. | ||
| Anyway, win after win after win. | ||
| But Commerce Secretary, more commerce. | ||
| Just get off media. | ||
| You're not good at it. | ||
| Let me be blunt. | ||
| You're not good at it. | ||
| It's not helpful. | ||
| President Trump's the master. | ||
| If you've got something to say, have the master say it because he's the best there ever was. | ||
| Also, Rickards, I know you like the geopolitics as well and the capital markets. | ||
| Go to RickardsWarRoom.com. | ||
| You get access to Strategic Intelligence, the monthly newsletter. | ||
| You'll absolutely love it. | ||
| He's now a major contributor over here. | ||
| For the War Room Posse. | ||
| You get the free book, too, about artificial intelligence in capital markets called Money, I think, GPT. | ||
| It's a must-read. | ||
| It'll keep you up at night. | ||
| Kind of scary. | ||
| But, hey, you're big boys and girls. | ||
| Rickardswarroom.com. | ||
| Strategic Intelligence. | ||
| Give it a chance. | ||
| You'll love it. | ||
| If you love the stuff we come to the show, you'll love this, too. | ||
| Strategic Intelligence. | ||
| Mike Lindell, I know that you're supporting early voting in Wisconsin because that's the rules of the game. | ||
| You are working with President Trump, obviously, to get one day all paper ballots, game day voting. | ||
| But that's not here. | ||
| I know you support her. | ||
| I just want to make sure everybody understands that Keith Ellison is trying to shut down not just the charity. | ||
| They're doing that, your foundation, your philanthropic. | ||
| But they're coming after to shut you down, your business, because they don't want you to have a voice, sir. | ||
| That's exactly right. | ||
| And Steve, I want to reiterate a little bit the importance of this Wisconsin race, everybody. | ||
| The Wisconsin Supreme Court, back in the day, they made some good rulings for election on the election platforms and what was going on a few years ago in our fight against Robin Voss and others that we had in Wisconsin. | ||
| The Wisconsin Supreme Court, this is so important. | ||
| These races can be, but this one is critical. | ||
| This one, I can't stress the importance of this race coming up on April 1st. | ||
| And I just wanted to put that in there, Steve, because when we, I know where our successes were and where... | ||
| Where our blocks were and the Supreme Court, they were brave back then. | ||
| They actually made rulings instead of kicking things out for standing and sanctioning people. | ||
| So I just wanted to put that in there. | ||
| And then on the other side of the coin, when we have bad politicians like Keith Ellison, the Attorney General of Minnesota. | ||
| He is very afraid. | ||
| They're even regurgitating old information. | ||
| Mike Lindell is going to run for governor of Minnesota. | ||
| So they're pushing this stuff out there right now. | ||
| And this big attack on my pillow and on my charities and on the recovery network, and it's disgusting, Steve. | ||
| It is disgusting. | ||
| Talk to me about the company. | ||
| Sell me a pillow in the limited time we got. | ||
| With the company, we had all these sheets, all these Percale and Giza sheets we ordered for this spring. | ||
| We had a couple box stores that were going to take them back in, and now I don't know if it's the news or whatever. | ||
| They're sitting silent on us. | ||
| They've gone Fox on us. | ||
| They've gone silent on us. | ||
| So what we've done, I said, you know what? | ||
| I'm tired of it. | ||
| What they would have paid, the wholesale prices, now the War Room Posse gets to pay. | ||
| So there it is, $29.98. | ||
| That's what they would have paid in wholesale. | ||
| They would have doubled the price in the box stores for you. | ||
| You would have paid $60, $70 for a queen-size set. | ||
| $29.98 for the queen size and $34.98 for the king size. | ||
| You guys, while they're gone, when they're gone, they're gone. | ||
| We have so many that were allotted for the box stores. | ||
| We're going to sell them to the War Room Posse. | ||
| So go to MyPillow.com. | ||
| Scroll down. | ||
| We put Steve front and center there. | ||
| Click on him. | ||
| There's your queen specials. | ||
| And there's all the other exclusive War Room specials. | ||
| One of the ones, you guys, is those premium MyPillows. | ||
| Where it all started, they're now made with Giza cotton covering. | ||
| 1898 for the Queen, 1998 for the King. | ||
| Call my operators today. | ||
| They're all standing around waiting for the War Room Posse to give them a call. | ||
| 800-873-1062. | ||
| I am in my office today. | ||
| I'm going to go down. | ||
| I'm going to take one of those calls. | ||
| We're actually doing some other filming. | ||
| I enjoy talking to the Posse. | ||
| Let's get the phones ringing. | ||
| Amen. Let's light those phone lines up. | ||
| Get Mike Lindell on the phone. | ||
| Put him to work. | ||
| Make him sell you some sheets. | ||
| Love you, brother. | ||
| Got to keep Mike Lindell going. | ||
| He's absolutely correct about the voter. | ||
| That's all the Wisconsin issues. | ||
| You got Second Amendment issues. | ||
| You got right to life issues. | ||
| You got election integrity. | ||
| What it means, you see how radical she is about the child molesters. | ||
| Not even counting the national issues. | ||
| Talk about issues. | ||
| This is all about families, healthy families in a healthy country. | ||
| Make America healthy again. | ||
| Make America great again. | ||
| Our two great movements. | ||
| And also another one is about having babies. | ||
| Kevin Dolan, natalism means what? | ||
| Are we not having enough babies, enough healthy, happy babies, sir? | ||
|
unidentified
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No, sir. | |
| No one on the planet is having enough babies, and particularly not in the United States. | ||
| And you mentioned the debt being existential and sort of the growth numbers being disappointing. | ||
| That's sort of where the rubber meets the road on the economy. | ||
| Basically, there's only two ways an economy can grow. | ||
| One is through technological advancement, and one is through population growth. | ||
| And basically- With our population declining as fast as it is, we're headed for a situation where we cannot maintain the growth necessary to make capital markets function. | ||
| So that's, you know, in terms of your listeners, that's your 401k, that's the value of your home, that's the value of the dollars in your checking account. | ||
| It's all predicated on, it doesn't have to be like crazy growth all the time, it doesn't have to be everybody having eight kids, but if you don't have reliable population replacement. | ||
| You can't maintain the basic level of growth that's required for capital markets to function. | ||
| And so everything falls apart. | ||
| In addition to the fact that, you know, I think your listeners are probably seeing in their own families, like, they want to have grandkids. | ||
| And that's harder and harder to come by these days. | ||
| And so we are trying to bring people together, both experts and just people who care about this. | ||
| To see if we can find solutions to this problem, whether it's policy solutions. | ||
| We've got a very friendly White House in terms of Elon and J.D. Vance and many of these people, including the president. | ||
| The president's got this great example of a big family that loves him, and I think that's sort of a legacy that almost all of us want. | ||
| And, you know, it's great to see, like, little kids around the White House again. | ||
| And so, like, from a policy perspective, we have this really golden opportunity to solve this problem. | ||
| You've got a big conference coming up. | ||
| I want to give all the details of the conference on how do people go online now and check it out, see if they can attend. | ||
|
unidentified
|
That's right. | |
| It's natalism.org, and we're offering promo code WARROOM50 for 50% off the ticket. | ||
| It's a big discount. | ||
| We're coming into the homestretch for this conference. | ||
| It's next Friday and Saturday in Austin, Texas. | ||
| So if you're an Austinite war room person, check us out at natalism.org. | ||
| WARROOM50 is the promo code. | ||
| And what is your social media? | ||
| Where do they get you? | ||
| Where can they follow you? | ||
| In the off hours, as our audiences want to do. | ||
|
unidentified
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Yeah, so it's natalism.org is the Twitter account, or I'm extra dead JCB. | |
| Thank you, brother. | ||
| Big happy families. | ||
| What is it, Dostoevsky? | ||
| Starts off with Anna Kaurina. | ||
| Every happy family, all happy families are the same, but each unhappy family is unhappy in their own unique way. | ||
|
unidentified
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I found that to be true. | |
| Happy families. | ||
| Nothing can be better. | ||
| Seen wealthy people, powerful people all over the world. | ||
| The best thing you'd ever be given is a happy family. | ||
| It is. | ||
| It's the bedrock of everything. | ||
| Because that's where you get your values, your religious beliefs, your religious practice, your spirituality. | ||
| It all comes from that. | ||
| That's the bedrock. | ||
| That's where these natalism folks are very focused on this. | ||
| Isn't it ironic when I go out with the spiritual warfare, Modern Day Holy War, from Lady No Gradia. | ||
| Love this song. | ||
| Love all the songs we play. | ||
| On a Saturday in March, in the middle of a fight, and we're winning, but you cannot flinch for a moment. | ||
| Remember, the President of the United States, all gas, no brake. | ||
| We're going to talk the economy and capital markets, and get real. | ||
| Next, Philip Patrick joins us from Birch Gold. | ||
| We'll be back in the war room in just a moment. | ||
|
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War coming after your mind Divine your soul Oh, oh, oh, it's true Oh, oh, oh, oh | |
| War Room. | ||
| Here's your host, Stephen K. Band. | ||
| OK, welcome back. | ||
| Philip Patrick joins me now. | ||
| Philip, a couple things. | ||
| I want to get into the, obviously, gold, precious metals, what's driving it. | ||
| But I've got to ask you, you know, the Fed came out this week, and all the noise was about they're not going to cut. | ||
| And, in fact, they project out two cuts for the rest of this year, but they're not cutting now. | ||
| They kind of get the headlines. | ||
| But then underneath it... | ||
| He gave out their numbers, and particularly a new projection for the year. | ||
| And correct me if I'm wrong, my calculation, they said the growth for the year for the economy was going to be 1.8 percent. | ||
| And they've ratcheted that down. | ||
| And he talked a little bit about a tariff drag, although I don't know how that could be, since tariffs really have been held in abeyance. | ||
| And I'm supposed to, on April 2nd, kick in with these reciprocal tariffs. | ||
| But my concern overall... | ||
| Is that unless we see, I mean, my number is 3 to 3.5%. | ||
| If you don't get to 3 to 3.5%, we're going to have real problems here. | ||
| The Trump supply-side tax cut from the first term gave us 3.5% growth in the fall and Christmas season of 2019 before the pandemic hit, which is really the best real sustained growth we've had with low inflation and low interest rates. | ||
| I don't know, since the early parts of this, at least since before the financial crash in 2008. | ||
| Your thoughts, sir? | ||
| Yeah, I couldn't agree more. | ||
| Numbers coming out were very concerning. | ||
| GDP growth was revised down 2.1% to 1.7% for this year, and as you say, 1.8% anemic growth for the next two years. | ||
| Meanwhile, the Fed's favoured inflation gauge, core PCE, now projected to rise 2.7% this year, up from 2.5%. | ||
| The general feeling from the meeting was a suggestion of a stag. | ||
| And I think broadly at the moment, and I'm stressing the word shorter term, investors seem to agree. | ||
| There was a recent survey amongst Bank of America. | ||
| Investment managers, 71% said they expected to see a stagflationary climate develop over the next year. | ||
| And concerningly, at least short term, they're doing something about it. | ||
| We're seeing a record sell-off at the moment in US assets. | ||
| More concerningly, though, with the study, Wall Street thinks that the era of American exceptionalism is now behind us. | ||
| Two-thirds said that the historic outperformance of US capital We've discussed before, the US constitutes about a quarter of the world's GDP, | ||
| yet US markets hold about 60% of the world's investments. | ||
| So a shift in sentiment. | ||
| Could see a major decline across the board, a large sucking sound as a third of the world's net capital flees the US. | ||
| Now, tariffs are being blamed largely for this policy, right? | ||
| Powell's saying specifically he can't lower rates because of tariffs. | ||
| According to the Fed, tariffs are the only thing to blame for this potential stagflationary bail. | ||
| Now, he didn't use the word stagflation. | ||
| Quite interestingly, he used the word transitory, which I was very surprised about that he would ever call anything transitory again after the sort of palaver in the pandemic panic. | ||
| But look, one thing I think people need to understand is shorter term prices will go up. | ||
| But what that means is that the policy is working, right? | ||
| The whole point of tariffs is to raise prices. | ||
| If they don't go up, the tariffs didn't work. | ||
| I think the Fed at the moment seem to be in a better position. | ||
| Right now, they have a scapegoat in the form of Trump and tariffs. | ||
| But one thing that I do want to stress to people, it's a mistake, I think, to overemphasize the capital flight shorter term. | ||
| We have to remember that short-term markets are voting machines. | ||
| But long-term, they're weighing machines. | ||
| And I think the way to get out of this mess is to get capital to return to the U.S. And Trump's economic plan, I think, will be crucial to that. | ||
| So shorter term, a ton of volatility, but longer term, I'm hopeful. | ||
| I want to go back to the GDP number and help me understand this. | ||
| If the Fed's saying now, remember the Fed has... | ||
| And I'm sure after Doge gets there, it won't happen. | ||
| I think they have 900 professional PhDs in economics. | ||
| But if they have all this modeling and they're so sophisticated, and they're primarily, you know, you have Commerce has their outlook. | ||
| Treasury has their outlook. | ||
| The National Economic Council under Hassett has its outlook. | ||
| You have Peter Navarro over there at the manufacturing czar. | ||
| He has his outlook. | ||
| Labor Department has their outlook. | ||
| So there's many different... | ||
| Sources of information and data in the United States government, which is quite massive. | ||
| Then you've got all the investment banks. | ||
| And as you know, the institutional architecture of the financial industry is massive. | ||
| You expect something doing trillions of dollars a year. | ||
| And I think in currency, trillions of dollars a day. | ||
| What concerns me, I don't think people are sitting there going, hey, world, we have a problem. | ||
| When they say the United States is 1.7% growth, folks, the system we have at 1.7% growth, and you take out government spending, that's a recession in the real world. | ||
| Because you still have this massive, you have this massive, you run into a $2 trillion deficit, you're spending $6.5 to $7 trillion in government money. | ||
| And that doesn't really clue at all, because there's all these side pockets, too, that are out there. | ||
| But then you look at China, and I think the way I calculate China, besides the phony numbers the CCP gives you and the Bank of China gives you, you're at around 2% growth, 2.5% growth max in China. | ||
| You weight average, because that's, what, 60% of the world's GDP, or at least over half of the world's GDP. | ||
| You have the two engines that have pulled the train for so long. | ||
| In growth at about 2%, the model doesn't work at 2%. | ||
| This is my point about we have $300 trillion now of face amount of debt at every level. | ||
| Credit card debt, local school district debt, county debt, state debt, city debt on the globe, government debt, bonds, everything. | ||
| You add it all up, it's like $300 trillion. | ||
| Are we not heading... | ||
| For the world's biggest margin call, because the era of, and this is why we did the sixth reinstallment of modern monetary theory, we wanted people to understand the idea that kind of, not that it had been bad before, but they had an ideological justification to do this, | ||
| that deficits didn't matter. | ||
| Every type of government in the world, and particularly the U.S. government that had the ability to print money, fell into this trap. | ||
| And now, I just see, and this is why I keep saying that gold is a hedge. | ||
| You know, gold's been on a tremendous run as an investment, but it's not really, it's never done that in history. | ||
| It's always been a hedge against times of financial turbulence. | ||
| So I look there and just say, we have not been wrong on these numbers once in the last five years since the show server, particularly since you guys joined as our partner, that there's something very scary here. | ||
| And here's what really got me. | ||
| When the Fed announced that the other day, It didn't go to DEFCON 1, which I thought it should have. | ||
| Everybody focused on, once again, the easy money. | ||
| And the easy money under Biden is one of the reasons we got here with the inflation. | ||
| It's not a solution right now. | ||
| I think it's only a potential problem. | ||
| So, Philip Patrick, that's my rant. | ||
| I'll turn it back over to you. | ||
| But I would say for our audience... | ||
| You've got to be on the watchtower now, not just for the country as we push forward. | ||
| And this is my problem with Doge. | ||
| I just don't see the cuts coming. | ||
| I don't see the waste, fraud, and abuse. | ||
| And people say, I haven't seen hard numbers associated with some of these things. | ||
| What they have done is programmatically has been identified before. | ||
| Department of Education, USAID. | ||
| They've been an instrument to help take down like USAID. | ||
| But actually, when you talk about the numbers, they get that six and a half trillion spend. | ||
| Down to $5.5 trillion, which is critical, then we can kind of survive. | ||
| I don't see it. | ||
| I just think people should have been more general quarters when the Fed comes out and said, hey, the growth ratio has been 1.7%, sir. | ||
| Yeah, you're absolutely right. | ||
| And everything we've been talking about for years is coming to fruition. | ||
| But the reality is that our economic model does not work at 2% growth. | ||
| Debt at that level grows faster than income. | ||
| And we know what happens when that happens. | ||
| So, you know, everything we've been talking about for a long time is playing out in front of us. | ||
| And that's why it's time to make the tough decisions. | ||
| That's why we have to push forward with Trump's policy. | ||
| Look, shorter term, it's going to create volatility. | ||
| It may push us into recession. | ||
| But at some point, we need to start tackling the issues and rebuilding. | ||
| We need to curb the spending. | ||
| I agree with you. | ||
| I don't think, at least as it's set up currently, Doge has the cuts, can make the cuts. | ||
| I think if we're unwilling to look at Social Security or defense spending, it's going to be impossible to plug that gap. | ||
| But ultimately, we need to look at doing it sooner rather than later, because the position we're in, we cannot continue with. | ||
| And this is happening on a global scale. | ||
| It's not just here in the United States. | ||
| It's happening around the globe. | ||
| As you say, the biggest margin call in history is in front of us. | ||
| Precious metals throughout history have always been a way to hedge, right? | ||
| Not only for stagflationary climates. | ||
| Last time we saw stagflation, gold grew over 2,000% from the early'70s to'80s. | ||
| But in climates where so much is at risk in terms of currency, in terms of the dollar, in terms of global reserve status, now is the time people need to start looking at precious metals and just look at the prices. | ||
| They tell the story. | ||
| But this is why gold historically has been a store of value in a hedge against turbulence. | ||
| Why? We've got a couple of minutes here on this side of the break. | ||
| Just give me a couple of minutes. | ||
| Why has it been on such a tear? | ||
| I think we first started with Burst Gold. | ||
| It was like $1,100 an ounce. | ||
| And the last year it was like four. | ||
| Why has this been on a tear when historically that has not been the case, sir? | ||
| Well, listen, for our lifetimes, the US dollar has been king, and that position today is... | ||
| I mean, we're still king, but it's coming under threat, right? | ||
| We're seeing de-dollarization happening around the globe. | ||
| We're seeing global debt levels spike. | ||
| We're seeing inflation burning around the globe, right? | ||
| And in times like this, there is always a flight to safe haven commodities, right? | ||
| This century is looking very different to last. | ||
| We're starting to uncover big problems. | ||
| We've amassed debt at a level never seen before on a global scale. | ||
| And when you do that, you start to see the fragility of currency. | ||
| And we're doing that. | ||
| Let's not forget the dollar's loss. | ||
| 21% of its purchasing power since the pandemic. | ||
| That's four and a half years ago. | ||
| That's a big problem for us domestically, but it's a problem for central banks around the world. | ||
| And they are doing what they have always done, which is turning to gold in times of crisis. | ||
| And we're seeing a lot of different problems converge. | ||
| And I think, like I said, and I've said many times, there isn't a better asset class for precious metals for Climates like this, and that's why demand is at all-time highs, and it's why gold prices are moving and will continue to move. | ||
| Okay, we're going to take a short break. | ||
| When we get back, I'm going to ask, well, I'll ask him now. | ||
| I'll look for the answer on the other side. | ||
| Central banks are the smartest, and I tell people all the time, I said, look, you know, I went to Harvard Business School, but now... | ||
| Every central bank, every country's got guys that went to Harvard, Chicago, Stanford, and they all have the HP-12C, which is kind of the union card. | ||
| That's the calculator, the hand calculator from Hewlett-Packard that's been the traditional union card. | ||
| I think the younger guys have a more sophisticated version, but it's basically what you can do, net present value and all your discounted cash flows. | ||
| They all have it. | ||
| These are all smart people. | ||
| And what's been shocking to me... | ||
| Over the last couple of years is every year we're getting record rates of central banks. | ||
| Not you, the audience. | ||
| I mean, yes, on retail side and citizens that want physical gold has been on the rise, but you've got central banks that are buying at record rates, and every new month it's another record rate. | ||
| That is a tell. | ||
| And I'm asking Philip Patrick to give us the answer. | ||
| Why is it a tell? | ||
| Why have central banks been setting records of buying gold in the last couple of years? | ||
| And why do you want to own physical gold? | ||
| Short commercial break. | ||
| Miles Guo will take us out with the take down the CCP. | ||
| And hey, there's no central bank that's buying more and trying to hide it than the Chinese Communist Party's Bank of China. | ||
| Short commercial break. | ||
| Philip Patrick from Birch Gold on the other side. | ||
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We will fight till they're all gone. | |
| We rejoice when there's no more. | ||
| Let's take down the CCP. | ||
|
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War Room | |
| Here's your host, Stephen K. Band. | ||
| Okay, so, Philip Patrick, by the way, birchgold.com slash band, and you get the end of the dollar empire, the six free installment. | ||
| We're doing something very special, going to announce here shortly, but you get the six free installment. | ||
| All of them are free. | ||
| You'll get like a master's degree in capital markets and in... | ||
| Debt, deficit, all of it. | ||
| But the sixth one is the modern monetary theory, the idea that broke the world. | ||
| And all these fights we're going to have on debt ceiling, all these fights we're going to have on deficits and cuts and spending and doge and all of it gets back to the real head of a big idea. | ||
| And that idea was deficits don't matter. | ||
| Guess what? | ||
| They were wrong. | ||
| And it's very important for you to understand why they were wrong. | ||
| I tell you, somebody who focused on deficits understood this is the central banks. | ||
| And Bank of China is buying and trying to cover it up. | ||
| The other banks don't really do that. | ||
| Why are central banks buying at record rates? | ||
| And why is the Bank of China gone out of their way to buy at record rates and not want the world to know about it, sir? | ||
| Yeah. Look, central banks have set records for the last three years, over 1,000 tons of physical gold bullion every single year. | ||
| And the reality is because they understand that the dollar is declining, right? | ||
| What we see is inflation. | ||
| Nations see as dollar devaluation, and they don't want their reserves losing value. | ||
| Factor in that Biden in 2022 weaponized our dollar, making it less attractive for nations like China, who have We've disincentivized the world. | ||
| Now, the dollar is still the tallest midget in the room. | ||
| The problem that the BRICS have is they don't have a currency that can usurp the dollar, and that's where the gold buying is coming in. | ||
| By buying gold, central banks around the world are achieving two things, right? | ||
| Number one, it's giving them the stability that they need for an international currency. | ||
| In fact, gold Gold is a better trade financially than the US dollar today. | ||
| In the same time period, the dollar's lost 20% of its purchasing power. | ||
| Gold is up over 40. The second side is a little bit more nefarious. | ||
| Gold is a good vehicle for central banks to de-dollarize, right? | ||
| The more gold they buy, the less dollars they hold. | ||
| And ultimately, If that trend continues, the weaker the dollar becomes, and the weaker the longer-term argument becomes for the dollar as the global reserve currency. | ||
| So I think the wheels are in motion. | ||
| BRICS are using gold as a tool to de-dollarize. | ||
| And the longer that continues, the worse it is for us here in the United States. | ||
| And I think it is going to continue. | ||
| The biggest single quarter was the fourth quarter of last year. | ||
| So the BRICS are moving and continuing to do so. | ||
| All of the Warren Posse rave when they get access to you guys and talk about physical gold and ownership. | ||
| I want to know right now, where do people go to talk to you and your team, Phillip? | ||
| Because that's really the differentiation of Birch Gold and everybody else. | ||
| Where do folks go? | ||
| Very simple. | ||
| Birchgold.com forward slash Bannon. | ||
| That will get them access to free information, guides on why and how to invest in gold under a Trump administration, as well as the End of the Dollar Empire series, which I know people love. | ||
| So Birchgold.com forward slash Bannon or text Bannon to 989898. | ||
| Either one will get access to free information and they can reach me directly at Philip Patrick on Getter. | ||
| Philip Patrick, thank you for taking your time on a Saturday to join us here on our favorite show, The Saturday Morning Show. | ||
| Appreciate you, sir. | ||
| Thank you, Steve. | ||
| Birchgold.com. | ||
| Check it out today. | ||
| Gold's been on a tear. | ||
| Our point is not the price. | ||
| It's what's driving the price. | ||
| That's what you have to understand. | ||
| That's what we're here to teach you. | ||
| Once you learn how to fish, you'll know how to fish forever. | ||
| Okay. Given what's going on in the world, the late, great Billy Joe Shaver, Get The Behind Me Satan, one of my all-time favorite songs. | ||
| Let it rip. | ||
| I'll be up on Get Her all weekend, and we will see you back here at 10 a.m. Eastern Standard Time when you will be back in the war room. | ||
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I looked into the mirror And I couldn't see myself The demons that were in me had turned me wrong, saying how I knew inside my soul I was headed straight for hell, | |
| but I couldn't for my life figure how to help myself. | ||
| And I said, get deep behind this sin, for I commanded him the name of the Lord Jesus Christ. | ||
| of Nazareth here, empty behind these sin, for I command it in the name of the Lord Jesus Christ. | ||
| Amen. | ||
| stars were hidden by the shroud that clouded round. | ||
| I could see my loved ones weeping as they lowered me in the ground. | ||
| No word was spoken over me. | ||
| I almost thought I'd die. | ||
| Then I knew I wasn't dead. | ||
| I had been buried alive. | ||
| I said, get deep behind this sin, for I commanded the name of the Lord Jesus Christ of Nazareth. | ||
| You get deep behind me sin, for I commanded the name of the Lord Jesus Christ. | ||
| I couldn't see my hand in front of my face I knew that I was buried in the deepest, darkest place The deeds | ||
| I had done put me in this awful place Then I failed to stir inside me |
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