April 4, 2025 - Bannon's War Room
48:53
Participants
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| Speaker | Time | Text |
|---|---|---|
| China is now hitting back, retaliating against the Trump tariffs, announcing this morning it is now slapping a reciprocal 34% tariff on all U.S. goods. | ||
| With stock futures, I mean, this is not looking good. | ||
| The next piece of data that investors and beyond are also going to be looking at this morning is the March jobs report. | ||
| It comes out next hour. | ||
| To date, the labor data has painted a picture of a jobs market that's cooling but not contracting. | ||
| Is that all about to change? | ||
|
unidentified
|
Absolutely. Absolutely. | |
| I mean, we're looking at absolutely brutal reaction from the markets yesterday and it could easily get a lot worse today because we are starting to see the beginning of the retaliation. | ||
| And there's no polite way of putting it. | ||
| We are sliding into a major trade war. | ||
| And the last time we saw anything like this was almost 100 years ago, back in the 1930s, when we had a wave of protectionism and populism and patriotism, a nice word for nationalism, that ended very badly. | ||
| So frankly, looking back to the future right now is a very good guide to what's happening. | ||
| I want to read to you something that Steve Bannon told the Wall Street Journal, that he said, when it comes to negotiating with other countries, every day will be like Christmas. | ||
| At the end of the day, what really excites him is talking about a deal with Canada, having Whitcock update him on Russia. | ||
| And then whatever small wins he gets, they're going to act like it's a big, giant win and run a victory lap. | ||
| That's all great for the show. | ||
| And this goes back to what I said. | ||
| Donald Trump is great at the show and the performance, but we could see businesses Yeah, I mean, so Trump claims these are reciprocal tariffs. | ||
| And that sort of says, he says, you know, we're getting ripped off. | ||
| So therefore, in Trump's mind, the stakes here are really high. | ||
| If he strikes a deal, he'll be able to stop us getting ripped off. | ||
| The problem with that is it simply isn't true. | ||
| Most of our trading partners have average tariff rates of 1 to 2 percent. | ||
| Trump is about to move the United States to 20 percent. | ||
| We will have tenfold higher tariff rates than any other country. | ||
| Even if he strikes all the best deals in the world, he'll be only able to reduce tariff rates by 1-2% because that's all they currently are. | ||
| He's starting a fight where there's no table stakes when you win. | ||
| Let me kind of give you the economist tools, because it's based on concepts like export and import demand elasticities, currency adjustments, and things like that. | ||
| But here's the analytical issue we're trying to do under the principle that the president wants to charge those countries what they charge us. | ||
| As you pointed out, Vietnam has an applied tariff rate that's much larger than ours, but doesn't come near the tariff we've charged them. | ||
| So the question is, how do you value the following, Phil? | ||
| So let me count the ways. | ||
| You've got to value currency manipulation. | ||
| You got a value the VAT tax distortions dumping export subsidies technical barriers to trade agricultural barriers to trade quotas bans counterfeiting intellectual property theft No, | ||
| according to economic theory they should not so what the trade deficit does for any given country it's the sum of all cheating that's the sum of all unfair trade practices and in a national emergency where the Trade deficit itself is the national emergency and security threat because it takes our factories, our jobs, and transfers wealth abroad. | ||
| The reciprocal tariff is that which reduces the trade deficit with each country. | ||
|
unidentified
|
This is just Trump gone hog wild, willy-nilly. | |
| Nobody knows what's going on, even at the White House. | ||
| I mean, when they announced this, Trump in the Rose Garden had his whole chart next to him. | ||
| Fair enough. | ||
| Let's look at the tariff chart, but go pull up the White House website and you'll see something totally different on tariff numbers. | ||
| They don't know what they're doing. | ||
| We are dealing with a dangerous amateur hour in this White House, and everybody's lives are going to be affected by this, because if this kicks in like we think, you're going to see prices of smartphones go up, produce Avocados is the one people are mainly focused on, but any kind of generic medicine that you might need to have a cheaper type of prescription than you would get normally from your pharmacy. | ||
| Once you go on and on, this could unravel, and nobody has confidence that Trump really knows what he's doing. | ||
| He just wants to do something audacious and big. | ||
| I can tell you this, right now what we're seeing was positive. | ||
| We blew it out of the water. | ||
| Even all the economists that looked at this thought we were going to have a depressed jobs report, and we didn't. | ||
| So that's a testament to the President, the economic output that he is doing. | ||
| Look at the Rose Garden that we had the other day. | ||
| Who was in the audience? | ||
| It was all the American workers. | ||
| We had our Teamsters there. | ||
| We had our United Auto Workers there. | ||
| We're seeing those investments pay off, and I would expect that to continue. | ||
| This is the primal scream of a dying regime. | ||
| Pray for our enemies. | ||
|
unidentified
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Because we're going medieval on these people. | |
| You're not going to get a free shot on 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. Vance. | ||
| It's Friday for April in the year of our Lord, 2025, day two. | ||
| I guess it's the morning... | ||
| Of the morning after The war room engine room today reported that CNBC called it the fog of tariffs. | ||
| I have to pull that clip It's not so foggy here, I've just got to see this thing through a complete total reorganization of the world's economic system trading system and At the same time a reordering of the world's geopolitical or geostrategic By one man Donald Trump That is executing this today. | ||
| Just put out another tweet. | ||
| Hey for everybody investing in the United States I'm rock hard here on policy not gonna move. | ||
| We're dug in My sources tell me and we're fairly dialed in at these countries around the world They're signing up people like crazy to come to Washington DC To surrender and say yes, Mayor Koopa, Mayor Koopa, Mayor Maxima Koopa. | ||
| We are we are We are wrong to have not just tariffs, but the non-tariff barriers to stop American goods being sold. | ||
| Just go around the world, if you travel around the world, how many American cars do you see in Japan? | ||
| None. How many American cars do you see in Korea? | ||
| None. How many American cars do you see in Europe? | ||
| Very few, next to none. | ||
| How many in Germany? | ||
| Definitely none. | ||
| Speaking of Korea, we're going to get to that in a moment. | ||
| The judicial insurrection is just not in federal court in Washington, D.C., where a judge, who should start impeachment hearings next week, is trying to insert himself between the Commander-in-Chief and the Commander-in-Chief's responsibilities. | ||
| South Korea, they removed the President last night. | ||
| I would certainly hope that somebody in the State Department, somebody in the Defense Department, Is on, uh, is, uh, on watch here. | ||
| I would argue that the South Koreans are one of our principal allies, and we're gonna lose the South Korean peninsula and all those good folks, and I don't know, 28,000 American troops that are there? | ||
| More on that in a moment. | ||
| We're gonna play a clip and then bring in Colonel John Mills. | ||
| Charlie Coomer's gonna be in later as a businessman a guy that had his life turned upside down because of this and he's asked for Sustained tariffs, whatever the number is he loves President Trump's plan, but as all small businessmen and we can Revitalize this country with small and medium-sized manufacturing It can be done and it will be done if you stick if you just hold the line Don't let that don't let the meltdown on Wall Street Because it's temporary. | ||
| It's all good. | ||
| It's been quite orderly. | ||
| And you get Katy Tur, you get all these people running around. | ||
| They're trying to instigate a crash. | ||
| You know this. | ||
| They think this is their new way to take out Trump. | ||
| They can't get in on the signal chat. | ||
| They can't do it in the streets. | ||
| They can't do it at the Tesla dealerships. | ||
| Everything they do is not to help the country. | ||
| It's to take on Trump. | ||
| One thing that's quite evident is Ezra Klein's book, Abundance, which I think comes to these kind of weird and wrong conclusions, but it's quite brilliant in its analysis of the credential class, what the Democratic Party has become under the credential class, and you see it right here in tariffs. | ||
| You never see the working through of how this helps America and American workers. | ||
| All you have is running around repeating the same talking points that the Wall Street crowd wants to give it to you. | ||
| I don't know if you have the New York Times, I think I got to you, the New York Times article. | ||
| They exposed themselves, their big article, their lead article about this whole thing is how a house, essentially a house for millionaires, how a house for millionaires is going to cost more because Trump's tariffs means that either The goods from overseas that we shouldn't be using to build these houses is going to cost more or it's going to come back to the United States. | ||
| And oh, by the way, they throw in, they say not just the goods, but then they throw in that 25% of the construction industry's illegal alien slaves. | ||
| And they imply in the article, that's all good. | ||
| This is why in the Rose Garden you had union people Union people cheering on President Trump. | ||
| The trade deficit, our debt is 37 trillion, 38 trillion, exploding every day because we're not dealing with it. | ||
| And oh, by the way, Elon, before you leave town, I just need you to check in and show me where the trillion dollars of cuts are. | ||
| Where are your biggest supporters? | ||
| Where are your biggest supporters? | ||
| We need to see, said it the other day, trillion dollars this year. | ||
| I need to see that. | ||
| This is urgent. | ||
| It's an urgent request. | ||
| We need to see it. | ||
| And for Cash Patel and Pam Bondi, our brothers and sisters over the Justice Department, will you please start, just announce you got a grand jury on it. | ||
| It's a trillion dollars in fraud. | ||
| Just give me a name. | ||
| This is like, now our version, we have to own this. | ||
| This is our version We gotta own it, folks. | ||
| We're saying it's a trillion dollars in fraud and waste, and all these mean guys are running around. | ||
| They're calling us cool. | ||
| Hey, I'm all good. | ||
| I'm all good. | ||
| We need the trillion dollars to cut. | ||
| I need to see Russ Vote or somebody actually sign off and impound. | ||
| Let's have a thing to impound. | ||
| Wherever that money went, boom, impound it. | ||
| And I need to see one name, just like in HB1 visas, of the millions that are here, show me one, one visa, one that's more educated, Or has more work experience for the billet they took. | ||
| Please show me that. | ||
| Same for us. | ||
| Let's have a cell phone here. | ||
| Yo, Cash. | ||
| Yo, Pam. | ||
| Can I have one name? | ||
| Just one. | ||
| Give me one name on fraud. | ||
| There should be millions of names, and we want them all. | ||
| That has to happen. | ||
| If you've stolen this money from taxpayers, everybody in the chain of command ought to be indicted, and the people that actually took the money and ended up with it ought to be indicted. | ||
| Gotta do it. | ||
| So there's 37 trillion debt, but remember the other big number that's inextricably linked that Wall Street never wants to talk about. | ||
| If you Google something that's not easy to find, that's on purpose. | ||
| Like Google total Medicaid spending, you can't find it. | ||
| You got to go to like nine places and do all kind of backflips. | ||
| It's like what the White House had to do with the reciprocal tariffs. | ||
| The globalists don't want to put that up there. | ||
| The trade deficit is, since China came in, Since we allow China most favored nation and world trade organization 18 trillion dollars the United States 18 trillion dollars 62 percent I think of our GDP 25 trillion dollars if you take it from when the first trade deficit occurred in 1974 man, | ||
| oh man Nixon Carter Watergate all of it the Arab oil embargo going off the gold standard Starting the trade deficits 70s, time of turmoil. | ||
| Took Ronald Reagan and Paul Volcker to sort that thing out. | ||
| Now we got Scott Besant and President Trump. | ||
| The fog of tariffs! | ||
| Trump is not going to blink. | ||
| You can already see the world's blinking. | ||
| And the more they throw Jillian Ted of the FT up there and her hair is on fire and that's the worst thing. | ||
| I'll play that again. | ||
| This the worst populism and and and and smooth Harley how many times are gonna beat the horse of smooth Harley to death? | ||
| It's a different era different deal President Trump enforcing his will that's what this is about. | ||
| This is a test of wills right now folks MAGA, are you up on the ramparts? | ||
| We got his back Short break we're gonna discuss that next Here's your host, Stephen K. Bamm. | ||
| Okay, um, I just gave that chart for the New York Times. | ||
| Let's, let's, I'll tell you what, let's play the clip. | ||
| Let's play the clip. | ||
| We're gonna produce here live. | ||
| Let's play the clip we just played in the last segment on the jobs thing. | ||
| Tell me when it's ready. | ||
| Just hang. | ||
| Just tell me when it's ready. | ||
| President Trump's dug in, his true social. | ||
| I want to thank the great Matt Boyle. | ||
| Give me a heads up on this because we've been juggling a lot of balls here in the war room. | ||
| This morning. | ||
| Trump is dug in, as he should be dug in. | ||
| Let's play this clip. | ||
| This is from the Department of Labor today over at, I think they're on CNBC, early this morning. | ||
| Let's play a quick one and we'll come back. | ||
|
unidentified
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I can tell you this. | |
| Right now, what we're seeing was positive. | ||
| We blew it out of the water. | ||
| Even all the economists that looked at this thought we were going to have a depressed jobs report, and we didn't. | ||
| So that's a testament to the President, the economic output that he is doing. | ||
| Look at the Rose Garden that we had the other day. | ||
| Who was in the audience? | ||
| It was all the American workers. | ||
| We had our Teamsters there. | ||
| We had our United Auto Workers there. | ||
| We're seeing those investments pay off, and I would expect that to continue. | ||
| Okay, a blowout number. | ||
| President Trump is putting up true socials this morning. | ||
| You know, reinforcing he's dug in here in the reciprocity. | ||
| And the market, you know, it's down, but hey, it's people gotta think through. | ||
| A lot of this is juiced, the Dow Jones Industrial is juiced by the MAX 7. It's all the AI hype and big tech oligarchs. | ||
| Excuse me, that's not Main Street. | ||
| That's not the country. | ||
| What President Trump is doing is fundamental to this nation. | ||
| You can't live with a 25 trillion dollar trade deficit. | ||
| That's money. | ||
| 25 trillion dollars has gone out of this nation to buy goods from foreign sources. | ||
| That gamed the system, principally in China. | ||
| The deficit since China's come in is, in the early 2000s, think formerly all in, is 18 trillion dollars. | ||
| I have on Getter this morning. | ||
| If you haven't gotten Getter, it's a free app. | ||
| Go to Getter, because this is where I'm putting up stuff all night. | ||
| If we can pull that. | ||
| A Warren Buffett article, the Oracle of Omaha, in 2003, when the trade deficit was virtually... | ||
| It was big, but it was nothing compared to today, saying, it's the end of the country unless we take care of this. | ||
| Ezra Klein's book says the Democrat, the credential class, like those little kids in school, remember in grade school? | ||
| All the suck-ups, and I'm sorry, sat in the front of the class, and teacher, teacher, teacher. | ||
| It's all about process and the turnaround. | ||
| Hey, Bannon's, you know, goofing off in the back. | ||
| That's what the Democratic Party is. | ||
| These little things, you know, you got signal and you got the tarot running around. | ||
| It's all process to them. | ||
| If you're outside of their bandwidth of what they understand as a process, and their bandwidth is quite tight and tiny. | ||
| It only thinks of Citizens of the world. | ||
| We want every nation to thrive and prosper, but not at the expense of American workers. | ||
| That's the system we have today. | ||
| That the top 1% or the top 3% clean it all because that's the connective tissue to the globalist apparatus they have set up and let evolve to the detriment of this country. | ||
| That is the raison d'etre of this country. | ||
| of Donald John Trump. | ||
| This is at the core of his being. | ||
| This is why he ran for public office. | ||
| This is why he didn't flinch when they came after him to throw him in prison. | ||
| This is why he didn't flinch when they brought the phony charges about him, you know, assaulting women. | ||
| This is why he didn't flinch when they tried to bankrupt him. | ||
| This is why he's never flinched. | ||
| He's an armor-piercing shell. | ||
| He has gone to the globalist apparatus and hammered them. | ||
| Trauma-inducing hammering. | ||
| They're not even making any sense. | ||
| When you see on TV, and you got Financial Times and New York Times, and it's all a tarot babble. | ||
| It's all gobbledygook, as my beloved mother used to say. | ||
| They can't even get their narrative, it's just, he's done something different. | ||
| And in the Rose Garden, who stepped up to the mic? | ||
| A union guy. | ||
| A union guy. | ||
| If we can go to my getter, um, Bloomberg, now Bloomberg has two, Bloomberg has three things, and Michael Bloomberg's worth, I don't know, 80 billion dollars, 100 billion dollars, because he's a bond trader, and he's got an idea. | ||
| His big idea is, what about if we put all the information on earth that comes across this thing called the wire, and later the internet, right on a terminal, so a bond trader that has to make decisions in a moment's notice about what's happening in the world. | ||
| By the way, the 10-year treasury is at under 4%. | ||
| Gold's backed off a little. | ||
| That's one of the reasons I think you can tell that it's not a total meltdown. | ||
| Otherwise, they'd be pounding in gold like nobody's business. | ||
| On the Bloombergs, he's got the TV. | ||
| If you ever want to see news, the one we monitor the most, MSNBC and Bloomberg TV. | ||
| Bloomberg TV, I love. | ||
| If you ever feel lonely, you want companionship, you know, the middle of the night, and you know, maybe the bad habits you want to get away from, maybe having another beer or doing whatever you're doing. | ||
| Have another piece of chocolate cake. | ||
| Cut on Bloomberg TV. | ||
| It's 24-hour news. | ||
| Now, it's business news, but it's covering the news 24-7. | ||
| It's actually like you're sitting in the Situation Room. | ||
| You got 24-7. | ||
| Boom, boom, boom. | ||
| Asian markets open. | ||
| European markets open. | ||
| Then back to the United States, it starts to cycle over again. | ||
| He's got that. | ||
| He's got the Bloomberg News and opinion and all those sorts of things, right? | ||
| The other day, Josh Green over Bloomberg News, who covers President Trump in the White House, Moderated the panel I was on. | ||
| But then you have what is called the Terminal. | ||
| And the Terminal gets information to the- and people pay a ton for the Terminal. | ||
| I don't know, it's a hundred thousand bucks a month or some outrageous number. | ||
| And this is why Bloomberg's worth a hundred million dollars. | ||
| It's the Terminal to the bond traders, and it connects all the capital markets in the world. | ||
| Every desk that's important in the world is connected to this. | ||
| So if you're on the Terminal news, The Bloomberg people who are curating this and want to make sure they get paid that $100,000 on each terminal, make sure that this news is meaningful to reality. | ||
| Meaningful to reality. | ||
| So they don't put a lot of opinion up there. | ||
| This is hard news that people can take and they can absorb it. | ||
| And lo and behold, what is up on the Bloomberg terminal today? | ||
| Lordy, lordy, lordy. | ||
| Republicans are looking at a good old-fashioned tax increase for the wealthy. | ||
| Yo. And you know why? | ||
| People behind the scenes are working the numbers. | ||
| And there's this gap of two trillion dollars. | ||
| We understand that. | ||
| And Elon's supposed to bring in a trillion of waste, fraud, and abuse. | ||
| God bless you. | ||
| We're waiting for it. | ||
| Howard Lutnick said, I'm going to generate a trillion dollars in Tariff fees. | ||
| Not so sure that's going to happen, but Navarro says it could be $100 billion this year, $600 billion, whatever the number, it's going to be something. | ||
| Okay? Scott Best and those guys got a growth rate in there, and the growth, and even with the current tax structure, boom. | ||
| But also the cut in taxes and no tax on tips, supposed to be no tax on overtime, right? | ||
| No tax on bonuses, and the big one, no tax on your Social Security. | ||
| So that leaves in a bigger gap. | ||
| At the end of the day you got to close it somehow and they're talking about for that either the top bracket doing what's called a snapback Back to I think the 39% or setting up a new category of if you make a million bucks a year Or more you have a different tax rate my point in the last 48 hours Donald Trump and the Republican Party have put forward a plan Of not tariffs, | ||
| but an economic plan to revitalize this nation as a major manufacturing superpower. | ||
| And to revitalize her citizens with well-paying, meaningful careers, not just jobs, careers. | ||
| And that a young person wouldn't have to go to college to an indoctrination center and get some DEI approved degree and take out hundreds of thousands of dollars in loans that you can't pay back because you don't, you can't get a job with that crap. | ||
| You just become part of the whiny credential class. | ||
| You're gonna sit around and whine all day at a Starbucks. | ||
| Look to get into trouble. | ||
| And at the same time, Understand the fact that the wealthy, the top 1%, the top 3%, have got to pitch in here and help us cut this deficit. | ||
| You've got to back off your lobbyists. | ||
| You've got to sit there and say, hey, these cuts have to happen. | ||
| And if not, and we need more tax cuts for the working class and middle class, particularly no tax on Social Security, then you've got to plug the gap. | ||
| You have to plug the gap. | ||
| In 48 hours, the Republican Party has put in, let me say this differently, Donald Trump has put in tariffs. | ||
| I haven't seen a big chorus, you know, Mike Johnson and the crowd over at the House, I haven't really seen a show of force. | ||
| Like, you know the time when they won something and they won a tax cut for their donors, they all get on the Capitol steps and there's like, you know, 400 of them or I guess 200 and... | ||
| Twenty of them. | ||
| They're all up there for a group shot like it's the first, you know, it's the last day of third grade and you're getting your class picture. | ||
| Mike Johnson sitting there, Polly Pox sitting there with a big ol' head of his. | ||
| Smiling, that goofball smile. | ||
| Don't see a big chorus coming out for the tariffs. | ||
| They're still working through that Austrian economics playbook. | ||
| Wow, did Milton Friedman say this? | ||
| Did Ayn Rand say this? | ||
| We got it from, and I love Rand Paul. | ||
| He's a good man. | ||
| He gave you the old libertarian Cato Institute coke. | ||
| We know we want open borders on labor. | ||
| We want open borders on capital. | ||
| We want open borders on product. | ||
| You'll have a great country if you do that, Rand. | ||
| That'll be lovely. | ||
| That'll be lovely, brother. | ||
| Why is that stuff all coming to Kentucky? | ||
| McConnell and Rand Paul. | ||
| And I love Rand Paul, but gotta get his mind right on economics. | ||
| Tax increases for the wealthy on the Bloomberg terminal. | ||
| That means it's kind of a fact, not saying it's gonna happen, but they're giving them a heads up that this thing is in the works. | ||
| Lordy, lordy, lordy. | ||
| Who'da thunk it? | ||
| On a Friday, in the war room. | ||
| Short commercial break! | ||
| We'll be back in a moment. | ||
|
unidentified
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We'll be back in a moment. | |
| ... | ||
| absolutely brutal reaction from the markets yesterday and it could easily get a lot worse today because we are starting to see the beginning of the retaliation and there's no polite way of putting it we are sliding into a major trade war and the last time we saw anything like this was almost a hundred years ago back in the 1930s when we had a wave of protectionism and populism Absolutely. | ||
| Yeah, absolutely. | ||
| I mean, essentially, Donald Trump and his team is indeed trying to reconfigure the global trading, financial, economic and tech system. | ||
| Can he succeed? | ||
| Well, he can certainly smash things up dramatically. | ||
| He's essentially already smashed up a very carefully constructed platform. | ||
| Passion of collaboration that was creating the last five decades. | ||
| And in many ways we are going back to the 1930s, because it's worth remembering that when we had the explosion of protectionism in the 1930s, that came after another long period of globalization before World War I that went dramatically into reverse after that, with tragic consequences. | ||
| So we have to hope that history isn't repeating itself this time around. | ||
| But the key point I want to make, which I covered in my book this morning, is that essentially, in my column this morning, we're used to analyzing trade through the lens of neoclassical Okay, | ||
| using the tools from the 1930s and there's writers economists like Albert Hirschman who looked at power politics and bullying which is much more relevant to understanding what's happening today power politics the Financial Times of London, that's Gillian Tett. | ||
| Wonderful person. | ||
| Uh, she's just wrong about everything. | ||
| I mean, she's brain on currency, but on this... | ||
| World... World reels from Trump trade. | ||
| Shock! She said, carefully constructed. | ||
| Carefully constructed. | ||
| You're correct, ma'am. | ||
| Carefully constructed. | ||
| In the last four or five decades. | ||
| Did I mention we have a 25 trillion dollar trade deficit? | ||
| Why is that never talked about? | ||
| The person who used to talk about that all the time was Lou Dobbs. | ||
| And he said the day was coming that you were not going to manufacture anything in this country and working-class people were gonna work three jobs And you're gonna have what I don't know 10 15 20 million men not even looking for work anymore You're gonna be important at all and they're gonna play games like the NAFTA thing We'll make it right south of the border Mexico's drive it right up The day's over This is to the core of President Trump of | ||
| why he ran for public office of why he came back If he had just gone to Mar-a-Lago and stayed and played golf and bought more golf courses None of none of the none of the attacks not they wouldn't try to put him in prison They wouldn't try again for insurrection. | ||
| They wouldn't try to bankruptcy. | ||
| They wouldn't try to bring up these women Over and over again everything to destroy a man And that only made the working class, particularly African-Americans and Hispanics, say, hey, look, I see how the system rolls. | ||
| Why are they coming for this guy? | ||
| I'm not so sure about these policies. | ||
| Let me think them through. | ||
| And then when you explain the policies, people go, OK, I get it. | ||
| He's putting American workers first. | ||
| He's putting the American middle class first. | ||
| He's putting the forgotten man and woman. | ||
| That's why last night I played That part of the address from the first inauguration. | ||
| He realized he had unfinished work. | ||
| That's why, like, Cincinnatus, the heroic Roman general, he came back to do it again in the greatest show of moral courage in the history of this nation. | ||
| And now we're in it, folks. | ||
| And now we're in it. | ||
| And you got guys over in the Senate right now who owe their entire political being to President Trump. | ||
| Their entire political being to President Trump. | ||
| And they're over there right now working with Democrats. | ||
| And Democrats have sold out the working class. | ||
| 2024, not a wake-up call to even the rhino Republicans of what the party's become and why you're winning? | ||
| Let me repeat, we have a 25 trillion dollar trade deficit. | ||
| What does that mean? | ||
| That the wealth of this country has gone to other places, principally to China, and even there, an intermediary, to go back to the lords of easy money on Wall Street, that got the factories over there in partnership with the Chinese Communist Party. | ||
| How's that going to look 50 years from now, when they look back in history? | ||
| It's the same as the Wall Street guys that financed Hitler and the big corporations that financed Hitler. | ||
| You think Hitler came out of nowhere? | ||
| Do you think Hitler came out of nowhere? | ||
| You would be incorrect. | ||
| He had plenty of backing behind the scenes. | ||
| Just like the Chinese Communist Party, another murderous dictatorship, has got plenty of big money backing and big corporation backing and big oligarch backing. | ||
| And who the saps they come after? | ||
| The working class in the United States of America. | ||
| Because you've been sold out by your elites. | ||
| Sold out by your elites. | ||
| And now they have the gall to sit there and go, my million dollar house could be a little more expensive because I'm not going to use slave labor. | ||
| And I have to buy product from here in the United States of America. | ||
| The New York Times article epitomizes the globalist mentality. | ||
| They hate This country, and they particularly hate you. | ||
| Full stop. | ||
| Why are they pulling their hair out? | ||
| You know, Stephanie Ruhle, I'm talking to these corporate CEOs. | ||
| Screw these corporate CEOs. | ||
| These CEOs are the same guys that rolled over, the men and women that rolled over for DEI and for getting rid of everybody. | ||
| Right? If you were Trump-supported, they didn't want you. | ||
| The worst element in this country are the corporatists. | ||
| The globalist corporatist, who use all the benefits of the United States of America, and what the little guys provide as far as social stability, but don't think anything about giving anything back. | ||
| They only want to be hammers. | ||
| Oh, they'll take a commercial, but they'll take a commercial and wave an American flag, have a couple of cowboys on there. | ||
| Some good old boys riding a horse and put an American flag and put some patriotic music and the saps are supposed to buy that Gosh, they're pro-american and guess what? | ||
| They gave a couple of dollars to a veterans a veterans fund. | ||
| They're patriotic Gosh, what great Americans Give me a break You wanna see how great Americans they are? | ||
| Look at what's happening right here and they say we're only looking for economic efficiency. | ||
| No No No You're looking for slave labor. | ||
| And a better deal. | ||
| Oh, hey. | ||
| Here's Trump's mantra. | ||
| The best deal's gotta be for people in this country. | ||
| You, as citizens, get a premium. | ||
| Why not? | ||
| The whole system is on your shoulders. | ||
| Gillian Tett just told you. | ||
| For the last five decades, we've had a system that's, you know, working pretty well. | ||
| Yeah, it's working damn well for the City of London, and damn well for Wall Street, and damn well for Singapore. | ||
| And damn well for Frankfurt and these other money centers. | ||
| And it's working great for the oligarchs in Silicon Valley. | ||
| And the Mag 7, the Mag 7 that hyped all this on AI anyway, their stocks are coming down. | ||
| And Katie Terr, I said it yesterday, Katie Terr spent the entire hour yesterday trying to gin up a Kramer moment, where Kramer got everybody all worked up in 2008. | ||
| You must, if you need cash, He told people, if you need cash in the next five years, you must sell your stocks today. | ||
| The people on the day show go, what? | ||
| What did you just say? | ||
| Katie Tur spent an entire hour on the floor of the New York Stock Exchange yesterday, trying to gin up with the bonehead Steve Leisman from Columbia Journalism School, never traded, never sat in a pit or traded in his life, knows nothing about capital markets or really economics. | ||
| Just a big liver-lipped liberal spouting his nonsense. | ||
| They sat there trying to gin up a route yesterday. | ||
| They tried to gin up a panic. | ||
| And let me repeat, Katie Turd doesn't know the difference between preferred stock and livestock. | ||
| And to have her down there shows you how pathetic MSNBC is. | ||
| Let's go. | ||
| Can I play the clip? | ||
| I want to go to... | ||
| Listen, judges right now are trying to... | ||
| They're trying to get a contempt charge on Trump. | ||
| They're trying to stop Trump in every aspect, including terrorists, which now they're suing like crazy. | ||
| The judicial insurrection in the United States is the main event of the Trump agenda going forward. | ||
| In Brazil, our great ally Bolsonaro is on trial for his life. | ||
| For why? | ||
| Questioning an election. | ||
| Why'd they come after Trump for questioning a stolen election? | ||
| Four years in prison for Le Pen in France. | ||
| Romania, they threw out the winner's election. | ||
| No, can't do it. | ||
| And in South Korea last night, they removed the president. | ||
| Now, is this guy the greatest guy in human history? | ||
| Probably not. | ||
| But he's an anti-communist, anti-CCP, duly elected by the South Korean people. | ||
| And somebody better wake up. | ||
| I would like to have seen Pete, and I realize Pete was making the distinction of the three island chains, but man, oh, man. | ||
| A stop in South Korea has been very important. | ||
| We got to somehow, somebody in the State Department, Defense Department, somebody got to step up to the plate and say, yo, what's the CCP doing here? | ||
| We just went to war with the CCP last night. | ||
| Heck, they got ships all around Taiwan. | ||
| Oh, just an exercise. | ||
| Totally random. | ||
| I don't know how that occurred. | ||
| They punched back last night. | ||
| They're gonna give as good as they get, they say, on trade. | ||
| Good luck with that, Xi, as your economy melts to the ground. | ||
| Let's play this clip. | ||
| It's South Korea, folks. | ||
| We're not back. | ||
| We got to back Bolsonaro. | ||
| We need to come out. | ||
| First off, that judge, Otho, OFAC ruling on him, and cut his visa off, cut his passport, or anything he's got to the United States, cut it off. | ||
| Seize all their assets up here. | ||
| Start playing smash mouth. | ||
|
unidentified
|
with Lula's government and these judges and tell them you ever come to the United States again you're ever flying I think he went to the University of Texas Dallas get an award we're gonna lock you up in South Korea we got a big problem let's go and play the clip You | |
| can see it underneath what's saying. | ||
| That's in the original Korean. | ||
| That was live a little while ago. | ||
| Colonel Mills joins us. | ||
| What it basically said is that they've impeached him and removed him from office and they give him X amount of time to get out of the presidential palace. | ||
| They rolled on this one hard, and they rolled fast. | ||
| Colonel Mills, we got a minute here. | ||
| I'm gonna hold you through the break. | ||
| What in the hell happened here? | ||
|
unidentified
|
Well, this is Chinese unrestricted warfare, but more importantly, this is political warfare. | |
| We've taken our eye off the bubble on what's going on, and we've also been focused on Taiwan. | ||
| Well, they just took out our right flank, and the judges caved 8-0. | ||
| Yeah. Yeah, | ||
| hang on for a second, I'm gonna hold you through the break. | ||
| We're not saying Yoon is not Ronald Reagan. | ||
| But he was a conservative he was in there and this thing came out of nowhere I mean the other guys had kind of been reprieved and this came out of nowhere. | ||
| They moved it unanimous including four conservative judges But the judges just to connect dots the judges removed the sitting president that won a fair and square election It was complaining about election interference and election fraud when this whole thing started with the martial law incident happened And you're right with it with Everything around Taiwan. | ||
| It's time now to look at South Korea back in a moment In times of turbulence right now gold every couple of days setting an all-time high back an awful little bit And I think that's a good sign for how Trump's Tariffs are playing and really the resetting of the of the geoeconomic order to make sure that we can start to work down This trade deficit because that's where we got to get to I'm not sure | ||
| you're ever gonna pay a nickel on the face amount of the debt. | ||
| I'm not seeing it If we can pay the interest without having to increase the interest payments I Will be lucky because the interest not going to explode. | ||
| I guess we're coming down under 4% It'll help but the interest just given the scale of the debt is going to get over three and a half dollars gross amount Birch gold Take out your phone right now. | ||
| The first thing you want to start with, I think the simplest, is text Bannon, B-A-N-N-O-N at 989898. | ||
| Get the free brochure. | ||
| Investing in gold and silver in the era of Trump. | ||
| The ultimate guide. | ||
| This kind of walks you through the basics. | ||
| Bang, bang, bang. | ||
| And then you can get in touch with Philip Patrick and the team. | ||
| Ed Birch, Golden Hammer, walk you through it. | ||
| Also, the end of the Donald Empire. | ||
| I really want you to read the sixth free installment, Modern Monetary Theory. | ||
| You'll see the concept, the idea. | ||
| If you've got two big ideas playing out, one is monetary theory, which, hey, deficits don't matter. | ||
| It doesn't matter. | ||
| Let's just run them up. | ||
| See how that's working out for us? | ||
| The other big theory is Unitary Executive. | ||
| That would be Donald Trump, Chief Executive, Commander-in-Chief. | ||
| Chief magistrate and law enforce chief law enforcement officer the United States government We're battling that one every day in a federal court, so make sure you go to birchgold.com Slash Bannon get in touch with Philip Patrick team those are guys you need to talk to and what you want to discuss is physical gold You want it where you put it is your choice? | ||
| But you want to have it and have access to it now more than ever So John Mills tell me give me the solution here. | ||
| It's 60 days. | ||
| We had for years to plot and plan the return They've got 60 they drop this thing on them right away. | ||
| It sounds like this thing's totally rigged and cooked But hey, I'm just an outside observer. | ||
| So starting now 60 days from tonight today. | ||
|
unidentified
|
They will have a new presidential election Yes, get take a deep breath Take a day or two of rest and then get back on the ramparts, South Koreans. | |
| What they're trying to do is destroy hope. | ||
| And I've been watching so much social media from the South Koreans. | ||
| It's what we went through initially after January 6th, January 20th. | ||
| It's over. | ||
| There's nothing we can do. | ||
| We'll never have a free election ever again. | ||
| That's what they're trying to do is destroy hope. | ||
| Destroy hope. | ||
| Hey, just like us, shake it off. | ||
| Get back in the game, get back on the ramparts. | ||
| Let's show these three slides real quick, please, the first one. | ||
| And just for you, in the center, you're right, Steve, he was not Reagan or Trump, but he was a good first try. | ||
| It's just not in the DNA of the conservatives, but they came together under you. | ||
| Yeah. He calls us occupiers. | ||
| Those are fighting words. | ||
| Let's go to the next slide, please. | ||
| This is really what happened. | ||
| Our air quote experts were asleep. | ||
| They were focused on the North Korean penetration of the society that went away 10, 15 years ago. | ||
| And we've talked about unrestricted warfare. | ||
| The tip of the armor-piercing shell in China's unrestricted warfare is political warfare, which we have, our capability went away in the 50s for that. | ||
| The Chinese communists have totally penetrated the South Korean government, society, and the election processes. | ||
| The National Election Commission, the Association of World Election Bureaus had USAID bumper stickers all over their website. | ||
| The things that shocked me was drug liberalization. | ||
| I was shocked. | ||
| I didn't realize what had gone on in South Korea. | ||
| I know we have libertarians watching the show. | ||
| I know we have the old Aunt Sally needs it because of her cancer. | ||
| This is the camel's net. | ||
| This is for destabilization of society. | ||
| The LGBTQ advocacy. | ||
| I call it the Colorado strategy. | ||
| This is how Colorado was undermined. | ||
| Same game. | ||
| But what we need, we need an ambassador over there. | ||
| Just like our two highest ambassadorial priorities, South Korea and the Bahamas. | ||
| South Korea and the Bahamas. | ||
| Got 60 days. | ||
| Gotta get it together. | ||
| And, you know, they have three different folks. | ||
| They got Ahn, who's in the National Assembly. | ||
| Kim, who's the Labor Minister. | ||
| Hong, who's the mayor of Daegu. | ||
| These are more toward hardcore populists. | ||
| We got to get together in 60 days. | ||
| And I know the South Koreans and the Wu Maos have been all over social media, all over social media. | ||
| For the South Korean, our brothers and sisters in South Korea, we're going to be all over this, like Brazil. | ||
| And there's action happening on Brazil. | ||
| We can't talk about now, but things are happening. | ||
| And the South Koreans, I tell you, I've spent so much time there as a naval officer and later as a financier and a businessman. | ||
| And they are just great people. | ||
| I mean great people. | ||
| It is a amazing country amazing people And and they're a great ally. | ||
| I mean and they are an ally Now we've got some issues on trade, but hey, we'll work all that out But right now with all the focus on Taiwan the CCP this is 1 million percent backed by the Chinese Communist Party And you got some radical elements over there some radical elements just like we have here. | ||
| This is like a color revolution Colored Revolution comes to Korea. | ||
| Colonel Mills, you're putting up stuff all day. | ||
| John, where do they go to get all your information? | ||
|
unidentified
|
Thank you, Steve. | |
| Colonel Rhett John 2, Colonel R.E.T. | ||
| John 2 on X. Colonel R.E.T. | ||
| John, Colonel Rhett John on Substack. | ||
| Colonel R.E.T. | ||
| John on Substack, also on Getter and Truth. | ||
| Thank you, Steve. | ||
| Thank you, brother. | ||
| Okay, The Right Stuff's gonna take us out. | ||
| What a week. | ||
| Taking on China, restructuring the world's economy, securing the southern border, shipping bad guys out of here, deporting bad guys out of here, working through the one big beautiful, one big beautiful bill, and Bloomberg's reporting, guess what? | ||
| Progressives and liberals doing something you have never done, and that is raising taxes on the wealthy to help pay for this mess. | ||
| And President Trump's down now in Doral with the Live Golf Tour. | ||
| His biggest deal, I think, gets announced on the eve of Augusta National, the Masters next week, where President Trump has brought together and saved the PGA Tour and Live and put them both together in an overall structure that the Justice Department will approve. | ||
| President Trump doing deals at Doral. | ||
| Short break. |
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