April 9, 2025 - Bannon's War Room
48:49
Participants
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| Speaker | Time | Text |
|---|---|---|
| Go ahead and let her rip. | ||
|
unidentified
|
Are the numbers I'm seeing on my screen correct here for the Dow? | |
| Are we up 7, 840 points right now? | ||
| Dana, I'm watching this literally glitching in gap. | ||
| We're up 900 points? | ||
| Is this, this is, this is, yeah, okay. | ||
| Wow. Our charts can't even keep up with how quickly these numerical moves are happening. | ||
| We are at session highs, Emily. | ||
| We are just sifting through everything that we're seeing in this Truth Social post, but two major developments. | ||
| I'm going to go first that the president says he is authorizing a 90-day pause and substantially lowering the reciprocal tariff during this period of 10% effective immediately. | ||
| There's some fuzzy language here. | ||
| The upshot is that there's a 90-day pause in the reciprocal tariff. | ||
| What I'm not clear on is whether we go to zero during that time or to back where we were, or if the 10% tariff remains in place. | ||
| Either way, a major step forward. | ||
| The president says that this is because more than 75 countries have called representatives of the United States. | ||
| Negotiations are ongoing. | ||
| And so he's instituting this 90-day pause in the meantime. | ||
| On the other hand, some negative news on China, saying that based on the lack of respect that China has shown to the world's markets, he's raising the tariff on China to 125%. | ||
| That's, of course, up from the 104% that took effect just at midnight, now going even higher to 125% because he does not like the way China has been retaliating rather than coming to the United States and wanting to negotiate. | ||
| So two major step forwards here. | ||
| One, obviously, very good for the markets. | ||
| You're seeing the markets react to that. | ||
| The other one on China looking like, you know, they don't like the lack of respect that they see. | ||
| So we are looking at a world in which things continue to get worse with China. | ||
| One of our largest trading partners, but of course not the largest, but getting much better with everybody else, at least temporarily while these negotiations, Kelly, are ongoing. | ||
| Thank you. | ||
| China, the exception there. | ||
|
unidentified
|
The Dow up nearly 3,000 points. | |
| S&P up 9.5%. | ||
| NASDAQ up 12. Charles, this is one of the greatest days in American economic history we have had. | ||
| I think we're going to call it the art of the... | ||
| And I'll tell you, all the nervous Nellies on Wall Street who try to undermine us consistently underestimate the power of the president to negotiate. | ||
| What have we got here? | ||
| We are at a place now where we have a broad-based 10% global tariff on. | ||
| Well, we negotiate over the next 90 days with all of these countries who have come to us. | ||
| And the mission, Charles, in these negotiations is to dramatically reduce our trade deficit, level the playing field, get rid of all the tariff differentials, get rid of all the non-tariff barriers. | ||
| Dow, 50,000. | ||
| Charles, I've said this before. | ||
| It's going to hit that. | ||
| We're going to have a broad-based recovery in the S&P. | ||
| As we told you, remember, our saying here also is that the bond markets turfed out more governments than howitzers. | ||
| A little while ago, the bond market kind of froze up in 10-year treasury. | ||
| 10-year treasury popped to 4.5%. | ||
| Remember the other day we were on the show, it was down, I think it hit 3.9, 3.95. | ||
| That was kind of irregular. | ||
| I'm not saying liquidity, but irregular treasuries back down. | ||
| And I believe that is twofold. | ||
| Number one, not just the tariff situation, but now this outright throwdown between the Chinese Communist Party and the United States. | ||
| But in addition, I think it's just starting to think through the Senate bill, which is being pushed by the president. | ||
| And I can tell you there's some spending there people don't understand or scratching their heads, including Jamie Dimon there, a $1 trillion dollar. | ||
| defense bill and I don't know how that's aligned with hemispheric defense. | ||
| It does take guts, believe me. | ||
|
unidentified
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What are the bond markets that persuaded you to | |
| No, I was watching the bond market. | ||
| The bond market is very tricky. | ||
| I was watching it. | ||
|
unidentified
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But if you look at it now, it's beautiful. | |
| The bond market right now is beautiful. | ||
|
unidentified
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But yeah, I saw last night where people were getting a little queasy. | |
| I think everything had... | ||
| Well, the big move wasn't what I did today. | ||
| The big move was what I did on Liberation Day. | ||
| We had Liberation Day in America. | ||
|
unidentified
|
We were liberated from all of the horrible deals that were made, all of the horrible trade deals that were made. | |
| And I was helped by people just like this. | ||
| Senator, Congressman, and friends, right? | ||
|
unidentified
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And we had great help in the Senate. | |
| Our Republican senators have been amazing. | ||
| They stood tall. | ||
| There are decades in which nothing happens, and there are weeks in which decades happen. | ||
| Welcome to that week, one of those weeks, and there have been many with President Trump. | ||
| A full-blown, it's gone beyond tariffs, it's gone beyond trade, it's a full-on, you can't call it anything else but an economic war between the Chinese Communist Party and the United States. | ||
| Chinese Communist Party ratcheted up retaliatory. | ||
| ...measures last night, tariffs and others, and they've got a full toolbox. | ||
| The Wall Street Journal has a really smart article up about how they've been prepping for this war, economic war. | ||
| They've already been engaged in economic war with this unconventional... | ||
| Warfare. Unrestricted warfare. | ||
| But they've been planning on this for many, many years, and now we're fully on it. | ||
|
unidentified
|
As I said, we've given 90 days, and the only certainty we can provide is that the U.S. is going to negotiate in good faith, and we assume that our allies will too. | |
| And in terms of certainty, we will see what China does. | ||
| But what I am certain of, what I'm certain of is that what China is doing will affect their economy much more than it will ours because they have an export-driven, flood-the-world with cheap export models. | ||
| And the rest of the world now understands because when we put up our tariff wall, those exports were already flowing to the rest of the G7 and to the global south. | ||
| How much of this decision was driven by the bond market cratering overnight? | ||
| What is happening? | ||
| I am nothing that says that. | ||
| And we actually had quite a good 10-year auction today. | ||
| And all this was, again, this was driven by the president's strategy. | ||
| He and I had a long talk on Sunday, and this was his strategy all along. | ||
| And you might even say that he goaded China into a bad position. | ||
| They responded. | ||
| They have shown themselves to the world to be the bad actors. | ||
| And we are willing to cooperate with our allies and with our trading partners who did not retaliate. | ||
| It wasn't a hard message. | ||
| Don't retaliate and things will turn out well. | ||
| Just in the last few weeks, Nicole, I had been having conversations with my colleagues who also cover foreign policy and national security saying, isn't it interesting how little we're hearing about China? | ||
| During the campaign and over his career, President Trump has been kind of obsessed with China. | ||
| And he has so many China hawks in his administration who say that China is the biggest threat to the United States. | ||
| But there was, you know, there were virtually no policy pronouncements. | ||
| And now here we go. | ||
| We are in this conflict with China. | ||
| And as you say, based in part on China's political culture, also the fragility of its economy, the Chinese are not going to back down by any sign that we've seen. | ||
| They are. | ||
| Xi Jinping is going to stand up, show that he can't be cowed by President Trump. | ||
| Nationalism is already starting to flare in that country. | ||
| And you could get into an escalatory cycle that not only has these economic implications, but can have security implications that can become quite dangerous. | ||
| So we went from China seeming to be on the back burner to now suddenly, you know, we're in the thick of it with China, not only economically, but in security terms. | ||
| And again, the question is, can that escalation be controlled as you have two leaders who are going to have to show that they are tough and will not back down from one another? | ||
| And that can be dangerous. | ||
| Pray for our enemies. | ||
|
unidentified
|
Because we're going medieval on these people. | |
| I got 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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Mega media. | |
| I wish in my soul, I wish that any of these people had a conscience. | ||
|
unidentified
|
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. | ||
| Wednesday, 9 April, in the year of our Lord, 2025. | ||
| I told you this morning at the start of the show about decades when nothing happens, weeks. | ||
| Where decades happen, this is going to be that kind of day. | ||
| If you watched the show this morning, saw our concern about the bond market. | ||
| Obviously, the president shared that concern. | ||
| There was a good auction or an okay auction before Secretary of Treasury Abessant went over to the White House early in the afternoon. | ||
| And these are trading partners. | ||
| And remember, reciprocity is key with Peter Navarro. | ||
| I saw some people saying, oh, it's Besant and Elon Musk versus Ludnick and Navarro. | ||
| John Cardillo, that's idiot talk. | ||
| Elon Musk was a guy that went out of his way to crush Scott Besant. | ||
| And Elon Musk, his only concern is the Chinese Communist Party. | ||
| 100% the Chinese Communist Party. | ||
| Today, the Chinese Communist Party got crushed by Michael Crowley. | ||
| Right there, summed it up, New York Times diplomatic correspondent. | ||
| We're a long way from this thing being over. | ||
| Tonight, get ready. | ||
| Xi is not going to back down on this. | ||
| He can't back down on this. | ||
| The reason he can't back down, if he was to back down and show any softness whatsoever, he would be overthrown. | ||
| Either by his military, this is why he's been purging the PLA over the last two years. | ||
| Massive purges in the senior ranks, kind of like Stalin. | ||
| Did before World War II in the 1930s at the senior levels of the Red Army. | ||
| She has been doing the exact same thing. | ||
| She understands that he is judged by how he stands up to the United States of America. | ||
| That's how he's really judged, by the hardcore. | ||
| They have many, many super hawks over there that are just raring to get it on with the United States of America. | ||
| This is one of the reasons you have to decouple. | ||
| The Chinese Communist Party, it's impossible to do a deal with. | ||
| We learned this in 2019, as I keep saying over and over again when we had the Lighthouse Deal. | ||
| This morning, President Trump, you know, you can say, laid a trap. | ||
| The three things, so just think this through. | ||
| Number one, we've talked about you need to have a process. | ||
| You had Liberation Day, and then the nations of the world are piling in here. | ||
| Some say, hey, I don't understand the formula. | ||
| Some are saying, hey, I understand the formula, but I think you might be wrong. | ||
| Some are saying, hey, I understand the formula, but my reciprocity is different. | ||
| I understand you want to get to reciprocity. | ||
| All of them, and particularly the biggest trading nations, have all wanted to come over here and cut deals, as Caroline Redd said this morning, from Kuala Lumpur, all of Southeast Asia. | ||
| And we know Japan had dinner with Scott Besant last night. | ||
| The Koreans are heading over. | ||
| Vietnam's already here. | ||
| And she was putting out the word, you're not going to do this. | ||
| You need to come back. | ||
| You're in our camp. | ||
| So this is about you had to have a process. | ||
| I think the process they chose to keep the 10% on. | ||
| Remember, 10% tariff is not small. | ||
| 10% tariff is four or five times some other, you know, other times they have tariffs. | ||
| So that in and of itself is not tiny. | ||
| The reciprocity piece will be worked through as people, because it's going to, these are complicated. | ||
| Remember, it's just not the numerical tariff that you've got. | ||
| It's also all the non-tariff barriers. | ||
| But the important thing is he had Scott Besson, under President Trump's guidance, warn China. | ||
| Warned them on Saturday and warned them on Sunday. | ||
| Don't come back. | ||
| If you strike back, it's going to be bad news. | ||
| And they struck back hard, and President Trump then struck back even harder. | ||
| And the market, of course, took off. | ||
| Number one, it is the process. | ||
| They like the 90 days. | ||
| However, there is a mother of all short squeezes in there in a couple of these stocks. | ||
| People were betting against President Trump. | ||
| They were betting against MAGA. | ||
| They were betting against the United States. | ||
| They were betting against these companies. | ||
| They got squeezed. | ||
| Because remember, when you short like that and you're leveraged, it's an unlimited amount of money, infinite amount of money you can lose. | ||
| Not like buying a stock and going long. | ||
| Because if you buy a stock, you only go to zero. | ||
| Historic day in the markets. | ||
| Dow almost 3,000 points up. | ||
| Broke 40,000. | ||
| Gold broke 3,100 for a while. | ||
| Backed off, I think it's 3,098. | ||
| You've got to learn the process there. | ||
| The 10-year, which was jiggy. | ||
| The 10-year market, when we started the show this morning, was kind of frozen. | ||
| That is not good, ladies and gentlemen. | ||
| That is not good, and that does not happen very often. | ||
| U.S. government securities, particularly the 10-year, which is the one that, as we taught you, the whole world and your financial life is off of. | ||
| Your credit cards, all of it. | ||
| Okay. We're going to the White House. | ||
| We've got Natalie at the White House. | ||
| Dave Bradd is here. | ||
| We're going to walk you through all of it, what happened today, what you have to understand from that, the process about it. | ||
| More importantly, what is to come in the war room. | ||
|
unidentified
|
Here's your host, Stephen K. Mann. | |
| Birchgold.com, I told you, we're here to teach you the process. | ||
| Take your phone out. | ||
| Text Bannon at 989898. | ||
| Get the ultimate guide for investing in gold and precious metals in the era of Trump. | ||
| And you get to know Philip Patrick and the team. | ||
| Look, it was at 2,900s, back over 3,100. | ||
| It's not the price and the price swings. | ||
| This is quite abnormal. | ||
| You have to understand what is going on here in back of that. | ||
| The pattern recognition, and that is what Birchgold will help you understand, plus the | ||
| As the Chinese Communist Party is now up front saying, hey, they're going to lead a de-dollarization effort. | ||
| Don't think this is over by a long shot, folks. | ||
| It was a great move of President Trump today. | ||
| There was a short squeeze and also people pounded in saying, hey, Trump is back. | ||
| So there's a lot of good there. | ||
| The process to get these done. | ||
| And to keep reciprocity, which is absolutely what President Trump is focused on. | ||
| Bringing jobs back, which is his number one priority. | ||
| And now in an economic war with Xi, who's not in a position to back down. | ||
| This is what I'm saying. | ||
| Things other than just tariff and trade and the kinetic part of this, which may start, quite frankly, with us in Mexico against their partners, the cartels, or it may start around Taiwan. | ||
| Stay tuned. | ||
| This is why the show for you is more vital than ever. | ||
| Natalie Winters over in Congress. | ||
| Of course, Zero Hedge had it best. | ||
| The Zero Hedge guys had an incredible tweet up today that said... | ||
| This is after the story broke, and it was obviously the focus on economic warfare, the Chinese Communist Party, and the market started to run. | ||
| The guys over at Zero Hedge put up a tweet, and now we can go back to your regularly scheduled $1 trillion in debt increase every 100 days. | ||
| So they voted in the Senate. | ||
| It's just procedural. | ||
| There have been promised cuts. | ||
| We'll get to that when we've got time. | ||
| Quite a day at the White House, Ms. Winters. | ||
| Yes, quite a day indeed. | ||
| Just getting here, they always are having press gaggles. | ||
| We've already had a ton today right now. | ||
| Transportation Secretary Duffy is speaking to reporters. | ||
| I saw Commerce Secretary Lutnick walk by not too long ago. | ||
| If you were to ask me what exactly the messaging, the strategy is, I think you're watching it develop right now in real time on the big networks, at the sticks, at the press gaggle. | ||
| But I really think confidence is emanating from the White House today. | ||
| The rebound that we saw, I think, I think the strategy worked. | ||
| I think Caroline Levitt said it best this morning, speaking to reporters. | ||
| They all got played. | ||
| They all got fooled. | ||
| This has been obviously the strategy all along. | ||
| But overall, from the comms angle side of things to each cabinet secretary, it seems like they're really emanating confidence and that they know what they're doing, contrary to, I think, the narrative we've heard coming out from my legacy media colleagues. | ||
| I'm sorry, I'm sorry, I'm sorry. | ||
| I'm sorry, I'm sorry, I'm sorry. | ||
| Natalie, Crowley says some of the things very important. | ||
| Like I said, President Trump ran... | ||
| Because of the United States being ripped off, being deindustrialized, the whole thing around trade. | ||
| But the center of gravity of that has always been, as we keep pointing back to the Financial Times that got it right, President Trump in a defiant move against Beijing about the Chinese Communist Party. | ||
| Since you've been an intern for us and for Rahim, your research originally started in things like the Chinese Communist Party and how they're infiltrated everywhere, how they're ripping us off. | ||
| Crowley said, hey, Trump is a China hawk, and he surrounded himself with China hawks. | ||
| How significant was that in how this played out today? | ||
| Well, I'm always honored to return to my anti-CCP tradition here in the war room. | ||
| But look, I think I'm getting a sense of deja vu, although maybe PTSD is a better way to describe it, really to COVID, the COVID panic. | ||
| What do I mean by that? | ||
| First and foremost, the idea that what was going to be a pandemic that was going to destroy the world, just like it was going to be what? | ||
| A recession that was going to destroy the world. | ||
| Well, that obviously didn't happen. | ||
| But more precisely to that point, I think the duking it out right over the natural origins versus the Wuhan Institute of Virology lab origins. | ||
| We saw this really, I think, massive moment happen where you had a hardcore Chinese Communist Party propagandists who are on the payroll directly of the Chinese Communist Party. | ||
| Like we exposed saying, no, no, this developed naturally. | ||
| And then the other voices like ours, the independent ones were saying, no, obviously it was manmade. | ||
| It was created through gain of function research. | ||
| Why do I bring that up? | ||
| Because those same voices that were weaponized, right, that same sort of propaganda that you heard to say COVID developed naturally. | ||
| in the Batcave or whatever. | ||
| It's the same, similar information warfare psyop that I think we heard now, not in the confines of biological research, but when it comes to the stock market, when it comes to these tariffs. | ||
| And we can get into the intricacies, but a lot of the think tanks that you're hearing, the so-called experts, I guess, there you go, trust the experts, that also cross-applies here too. | ||
| But the people that you're hearing being pumped across the airwaves on legacy media are all a part of these think tanks, all are academics, part of these institutions that have been on the take, on the payroll from the Chinese Communist Party for decades. | ||
| And I know our side always loves to say, oh, so-and-so is, you know, bought and paid for by the Chinese Communist Party. | ||
| That's an understatement, right? | ||
| When you understand the way that the Chinese Communist Party has systematically waged political warfare to target not just the Achilles heel of the American system, but the American political system in its entirety, right? | ||
| Don't miss the forest for the trees. | ||
| Hunter Biden is one of many. | ||
| They've done that time and time and time again. | ||
| All of these voices that are now criticizing President Trump in this trade war, which by the way, I reject that phrasing. | ||
| It's the Chinese Communist Party that started this to begin with. | ||
| That's victim blaming. | ||
| It's the American people who have been besieged by the Chinese Communist Party through intellectual property theft. | ||
| Illegal trade exports and subsidies, currency manipulation, all these sort of non-tariff barriers that the Trump administration is talking about while their legacy media counterparts are too dumb to even know that currency manipulation exists at a rate of, what is it, 30 to 40 cents on the dollar. | ||
| So this is a much bigger issue of the tariffs. | ||
| I think right now are sort of the latest theater of war that we're seeing the Chinese Communist Party influence ops, psyops, you know, run out on. | ||
| But this is just like COVID. | ||
| Our audience is always ahead of the curve. | ||
| We're always steely-eyed. | ||
| We understand. | ||
| We stay frosty on the psyops. | ||
| I don't think the same can be said for my colleagues here, but it's the same lying and deceitful actors that are very in bed with the Chinese Communist Party that are telling us that these tariffs are detrimental to the United States of America. | ||
| The Running Dogs. | ||
| You've got a clip. | ||
| Let's go and play it, and then we'll bring you back in for some observations. | ||
|
unidentified
|
Well, I think it'll be a devastating impact. | |
| I mean, for one thing, we've already seen in two business days, Thursday and Friday, after he announced on Wednesday the launching of all of these new tariffs, that in two short days, the United States stock markets lost $6 trillion. | ||
| $6 trillion in wealth. | ||
| I don't think we've ever seen anything like that in history. | ||
| I think you'd have to go back to the Great Depression and the crash of 1929 to see anything on this type of scale. | ||
| And even that may not be quite the same. | ||
| This is going to go down as one of the most egregious self-inflicted wounds and unforced errors that we have ever made as a nation in any area of trade policy or economic policy. | ||
| So, | ||
| Number one, it's obviously going to raise prices and contribute mightily to inflation. | ||
| Number two, it's going to ultimately result in net job loss because American producers will be having to pay more for the inputs for their final products. | ||
| That means that they'll have to raise their prices on the products. | ||
| That means fewer people will buy the products, and that means that the factories will have to lay people off. | ||
| That's what happened the first time. | ||
| Before COVID, under the Trump economy, under these policies, The United States lost 250,000 manufacturing jobs, so we know how this goes. | ||
| And so in all of those ways, it's going to be devastating. | ||
| And of course, it's leading to the weakening of the dollar and, according to many economists, a much greater likelihood of a recession. | ||
| And none of this had to happen. | ||
| So it's very self-inflicted and really economic mismanagement at a level that I don't know that we've ever seen in the modern history. | ||
| Are they in the mumble tank now they're not going to get their Great Depression this week, ma'am? | ||
| Well, Stephen K. Bannon, you just missed Peter Navarro walking by. | ||
| He told me to send his regards to the posse. | ||
| But just to contextualize who that is, I know we love the term running dogs here, but that's a full-blown traitor. | ||
| That's David Fierstein, who is the CEO of the Bush China Center. | ||
| Now, what they don't tell you about the Bush China Center, and what I won't tell you about that interviewer, I guess they won't tell you, is that he was running to Chinese state-run television to dunk on President Trump's tariffs. | ||
| I stand by my treasonous claim and traitor claim, But what's more interesting is what he doesn't disclose is that... | ||
| That group, the Bush China Center, is directly on the payroll of a Chinese Communist Party-run influence group known as the China United States Exchange Foundation. | ||
| They notoriously signed a five-year, $1 million a year contract to basically parrot Chinese Communist Party talking points. | ||
| That interview you see right there is what they call, I guess, an ROI. | ||
| But more to that point, each year they were only bringing in about $1.2 million. | ||
| So the buried lead there being that it was the China United States Exchange Foundation that was constituting essentially the entirety of that group's budget. | ||
| But this pattern is replicating itself over and over and over again. | ||
| The other think tanks that are essentially bought and paid for by this very same, like I repeat, communist influence group, the Brookings Institution, the Center for Strategic and International Studies, the Atlantic Council, the Center for American Progress, the East West Institute, the Carter Center and the Carnegie | ||
| Endowment for International Studies. | ||
| Of course, a bunch of America's top institutions are also on the take from the China United States Exchange Foundation. | ||
| And if Denver wants to toss up on screen the Center for American Progress, which has actually led delegations to China, paid for, subsidized by this communist influence group since 2009. | ||
| This was a group that was founded by John Podesta, though I think that's maybe the lesser of the two controversies when it comes to this think tank, at least in the context of Chinese relations. | ||
| But for decades, they've been collaborating with them, going on these high level delegations, receiving hundreds of thousands of dollars to lobby for them, why an American think tank would be lobbying for Chinese Communist Party. | ||
| interests. I can't quite tell you the fact that it's comprised of overwhelmingly Obama administration alumni. | ||
| Maybe that squares that logic chain. | ||
| But this is what you're hearing. | ||
| It's full-blown propaganda from, guess what, people who hate the United States of America don't think borders matter and don't think sovereignty is important. | ||
| So, of course, they're going to hate these tariffs. | ||
|
unidentified
|
It's the... | |
| Natalie Winters, social media ma'am. | ||
| Natalie G. Winters on all platforms. | ||
| Thank you for having me. | ||
| Couldn't have come out of the box firing with all cylinders about the CCP. | ||
| Folks, don't think we're through this one by a long stretch. | ||
| This is Battle of the Titans right now. | ||
| Short break. | ||
| Brat on the other side. | ||
|
unidentified
|
Here's your host, Stephen K. Bann. | |
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| Just Steve? | ||
| Just Steve. | ||
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| I'd like Steve 25, but just Steve. | ||
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| Just Steve. | ||
| Only Steve. | ||
| Dave Brett. | ||
| I want to get to the second. | ||
| The Senate, I don't know. | ||
| I'm not feeling it, brother, but I heard it was just procedural day. | ||
| A lot of long faces having to vote for this. | ||
| But walk me through your assessment of President Trump's handling of this over the last couple of days, and where do you think we are right now? | ||
| Yeah, my view is we're in the middle of a geopolitical, geoeconomic revolution, a Kuhnian paradigm shift that's going to be permanent. | ||
| President Trump is assessing it in real time and seeing the max damage he can do to an evil system, right? | ||
| St. Augustine, Pravacho, Boney, the absence of the good is evil. | ||
| Communism, Morning Joe, Mika, Baptist, Let's have a debate on that one. | ||
| Is communism good or evil? | ||
| Let's have that one. | ||
| Somehow, Communist China grew at 10% GDP for a decade. | ||
| Somehow, they are doing $5 trillion in manufacturing a year, while the United States of America is doing half of that, $2.5 trillion. | ||
| Somehow, China has $100 trillion in capital to work with, and we only have $70 trillion. | ||
| That might explain why our productivity has been going down for 70 years. | ||
| Bob Gordon, Northwestern, I've shown that chart a thousand times. | ||
| Talking about the real economic outlook. | ||
| He didn't mention the economy once. | ||
| Our economy is not in strong shape. | ||
| Because it's been destroyed by the communists and the leftists, etc., who've given us those charts. | ||
| And so I think President Trump is just weighing in real time. | ||
| He sees very clearly what they did to him in 16, in 20, what they're still doing in 2024 with the courts, etc. | ||
| And he's maxing out what he can do in a short order. | ||
| It's not like the establishment, once he starts these changes, they're going to continue on his regime, right? | ||
| They're not going to say, oh, yeah, or Trump's not going to say, let's just do this. | ||
| Let's just make little changes right at first because, boy, we don't want to upset the apple cart that's been wreaking havoc on the American middle class. | ||
| And so I also want to add the moral debate. | ||
| President Trump, he'll never admit this, but I see the positive thinking in his upbringing. | ||
| I see that he is not a beggar thy neighbor guy. | ||
| He doesn't want our advancement at the worsening of the rest of the world. | ||
| What he wants is a system that makes us all better off, as opposed to China, who is beggar thy neighbor. | ||
| They got rich off of our backs. | ||
| They took manufacturing away from us. | ||
| They cheated, lied, steeled. | ||
| The tariffs are about a third of the story. | ||
| Non-tariff barriers are two-thirds of the story. | ||
| And the White House is, and you've been strong on that for the last few days, Steve. | ||
| And so I applaud the backbone from our America First side for sticking with it and doing the best. | ||
| And Trump's a smart, smart guy. | ||
| So he's reading the leaves and seeing how he can maximize goodness for the American people in the political sphere. | ||
| Now this is a throwdown. | ||
| You know how tough and hard the Chinese Communist Party is? | ||
| They have a huge problem with legitimacy. | ||
| Since they were a revolutionary force and they did defeat one of the Kuomintang armies, but essentially the country was given to them by traitors in the State Department and the U.S. government, who took our small revolutionary cadre and gave the country to them. | ||
| And they had defeated, on many occasions, many battles. | ||
| The nationalist forces. | ||
| But they've always had a question about legitimacy. | ||
| They've never had an election. | ||
| They've never been elected in. | ||
| They've never had to go out and convince the Chinese people to support them. | ||
| Where do you think we are now? | ||
| Particularly, you've got Taiwan. | ||
| You have the fentanyl crisis on our southern border. | ||
| You've got the Panama Canal. | ||
| You have the Arctic. | ||
| My recommendation immediately is to take all 350,000 students that are here, revoke the student visas, and send them all home right now. | ||
| There may be some swell kids in that, but it's the principle. | ||
| They all got to go. | ||
| And we still have tens of thousands that snuck in here and crossed the border when Biden invited them in. | ||
| Where do you think we are now in this overall war that they've been engaged against us since 2019? | ||
| I think we're in a very, very scary world in predicament right now. | ||
| And that's why I brought up all these morning Joe and Mika's and Jamie Dimon's and the Wall Street Journal's. | ||
| hey, what are you guys going to say in the morning if China goes all in, puts all in chips, takes over Taiwan or does something worse than that? | ||
| Then all of a sudden, are you going to finally figure out that the Chinese totalitarian communist surveillance state is not morally good? | ||
| They have no human rights. | ||
| They do not believe in God. | ||
| They're abusing human beings. | ||
| There's | ||
| I'm just shocked on the moral equivalence, right? | ||
| The Panama Canal versus Taiwan or whatever. | ||
| we have paid for a peaceful order for 70 years china has never done anything good for anyone in the last 70 years except themselves and not even themselves a small teeny little minority when we talk about china we're not talking about the lao bai jing the | ||
| people made in the image of god we're talking about the totalitarian despots and it is a scary world we're living in right now at | ||
| My guess is they're probably in a recession and near 0% GDP growth. | ||
| I know we are, as we've always said. | ||
| If you stripped out the grotesque money printing and the $2 trillion deficits, we'd be shrinking at at least 3%, 4%, or 5%. | ||
| But you wouldn't know that because none of the mainstream economists will ever do any research on anything that matters. | ||
| And that's what Natalie just brought up. | ||
| Just look at all those foundations she reeled off. | ||
| They all fund all the economists at Harvard and Yale and Princeton, Berkeley and MIT. | ||
| So if you want to know why none of the America First issues are ever covered by economists, and that's why I'm serious, we're in a Coonian revolution. | ||
| Their story, their narrative on the left, the Marxist left, they cannot explain the data. | ||
| How our productivity is so far down, why China is growing so fast, how we let that happen. | ||
| No one in the establishment is defending the current trade regime. | ||
| That's the tell. | ||
| But they don't have another story, narrative, theory, ready to go. | ||
| And when it comes to geopolitics, you know more than I do, so I'll defer to you on the Chinese military threat. | ||
| Well, it's going to be significant. | ||
| I mean, we've got to be on watch. | ||
| And starting tomorrow, we're going to break this all down. | ||
| But overnight, I'll be putting stuff up on Getter. | ||
| Tonight's dangerous. | ||
| Every night's going to be dangerous, but particularly she cannot sit there and have Trump go, OK, tough guy, it's 125. | ||
| How about that? | ||
| And keep coming for him. | ||
| So, you know, zero hedge. | ||
| Today, the 10-year auction, the auction went OK, but before that, the bond market did freeze or appeared to freeze for a few minutes. | ||
| It was rattled. | ||
| Part of the reason it's rattled is that... | ||
| You know, they hadn't seen the trap that President Trump was working on springing. | ||
| They thought it was maybe a little too much confusion and that you had this reciprocity, but there wasn't really a process to get everybody in, the 75 to 100 countries in. | ||
| So they hadn't been able to see that. | ||
| President Trump made that clear later. | ||
| But the other thing that spooked them, Dave, is this Senate bill. | ||
| Now, you've got to help me here, brother. | ||
| The House voted on it today, and if it hadn't been for a couple of Democrats who have died, I think, from cancer, I don't know if the bill would have passed. | ||
| I mean, it was 216-215, right on the nose. | ||
| With a couple of no's. | ||
| Three no's from the Democrats. | ||
| This Senate bill is almost indecipherable. | ||
| I mean, it was only a procedural thing today, and we promised. | ||
| President Trump specifically promised a trillion dollars in cuts. | ||
| So, this thing could be horrific. | ||
| The bond market is not going to sit there and let us... | ||
| They get a vote now. | ||
| They're just not going to let us run up these massive deficits. | ||
| And both of these deals, one has four trillion, the other has five trillion. | ||
| I mean, what's your sense? | ||
| I know the arm twisting in the House has been intense. | ||
| And they've committed that they're going to get to work and we're going to understand this entire thing and understand what the spending is, understand what the deficits are, how they're going to get to zero, understand where the tax cuts are, whose taxes are being raised, and who are continuing on with the lower taxes. | ||
| I mean, what is your outlook on this? | ||
| Clearly, the zero hedge was kind of mocking everybody and said, okay, now that this crisis is over, we're back to just running up a trillion dollars. | ||
| Yeah, I think the analysis of the budget is fairly similar to that with tariffs. | ||
| Where have any of the House members been with a plan? | ||
| Or the courage to come out and defend this America First play on behalf of the American worker. | ||
| And I get it. | ||
| I was there. | ||
| I mean, it's a tough world running against the tooth fairy and the Democrats who are supposed to be pro-labor and pro-worker. | ||
| And where are they? | ||
| They have no strategy. | ||
| No nothing. | ||
| They're not populist. | ||
| And so, yeah, I've got no hope at all in the budget process right now. | ||
| I haven't seen any reason to be optimistic. | ||
| I think the Senate, from what I read today, the cuts are in the billions. | ||
| Not the hundreds of billions. | ||
| Not a trillion. | ||
| But in the billions. | ||
| And then the House is, you know, I think the Speaker and some of the members are saying that's not good enough. | ||
| So they're going to go back and forth, but at the end of the day, they're going to lob it into one big, beautiful bill, which means there's going to be extreme pressure on everyone to vote for that thing. | ||
| That's how they do it. | ||
| They time it. | ||
| They wait for a key choke point when you're going home or whatever, and then they force you to the wall, and that's it. | ||
| And so you're right on the bond market. | ||
| Now we've added... | ||
| Other realities to the risk calculus around the world, right? | ||
| Now you've got geopolitics, you've got China, you've got the tariffs, and President Trump knows full well that this cannot be incremental. | ||
| This America First move, right, on energy all in, on the tariffs all in, and it's not the tariffs. | ||
| He wants them to come to the table like, you know, van der Leyen for the EU, etc. | ||
| They offered a zero tariff. | ||
| No way, Jose. | ||
| Two thirds, right? | ||
| I got a chart. | ||
| I'll show it in the six o'clock hour. | ||
| The blue chart that shows... | ||
| No. This is why Navar is a genius. | ||
| What Navar said is, hey, you've got to put in currency manipulation, counterfeiting, all the non-tariff barriers. | ||
| It's just not the number. | ||
| Because... People come all the time and say, hey, between Europe and us, it's just 0-0. | ||
| Let bygones be bygones. | ||
| No, no, no, no, no, no. | ||
| That's not how it goes. | ||
| This is still the way Germany... | ||
| We have not one American car sold in Germany. | ||
| The Senate bill, we're going to have to deconstruct. | ||
| You're right. | ||
| You've got a trillion-dollar defense budget. | ||
| They're adding another $170 billion for... | ||
| For the border, for deportations. | ||
| These things have to be done, but we really got to go through the fine-tooth comb and find out about it, plus the taxes, all of it. | ||
| It's complicated. | ||
| This audience is going to come under tremendous pressure to roll over on this thing. | ||
| Go ahead, Dave. | ||
| I'll just throw in real quick. | ||
| I watched that debate last night. | ||
| Schiff, I disagreed with on the tariffs, but he did have another parallel explanation with the Federal Reserve. | ||
| Printing too much money, reserve currency, interest rates way too low, therefore you don't do any saving, you do all consumption. | ||
| That line of thought is also powerful. | ||
| It parallels why we're in a problem and the Federal Reserve better get its act together to be complementary to this whole America First Project. | ||
| Hang on one second. | ||
| Dave Bratz with him. | ||
| We'll take a short commercial break. | ||
| Take down the CCP. | ||
| Back in a moment. | ||
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| Um... We are going to talk tomorrow about non-financial and non-tariff and non-trade. | ||
| Because that's going to take a life of its own. | ||
| There's going to be some retaliation tonight, you watch. | ||
| But Dave Brat, we've got to start talking about also, because this is going to last for a while. | ||
| There's not going to be a handshake and deal. | ||
| They're dug in, and one of the reasons they're dug in, they've got their own... | ||
| Internal problems. | ||
| One is that they've got to be tough. | ||
| They've got to be tough about Taiwan. | ||
| They've got to be tough about the Panama Canal. | ||
| Besides the student visas. | ||
| And look, I love the Lao Bai Jing, and I'm one of the leaders of the anti-CCP movement here in the country. | ||
| I'm the only civilian in the history of the country to be fully banned, right? | ||
| And, you know, essentially politically and economically quarantined. | ||
| From China or any Chinese communist, by the Chinese Communist Party, on the day of President Trump when he left the White House, it was Pompeo, it was Matt Pottinger, it was Peter Navarro, and myself. | ||
| And so I'm very proud of that. | ||
| It wears a badge of honor because I detest the CCP. | ||
| But we've got to start thinking outside. | ||
| I know things are being developed, but the student visa ban has to happen. | ||
| You have to send all 350,000 home. | ||
| You're also going to unmask these colleges that are really... | ||
| This is how they're getting by, and that's just not right. | ||
| The priority has to be U.S. citizens. | ||
| The other thing I would do immediately is I would take the deal down the Panama Canal, Hutchinson-Wampoa, and Larry Fink. | ||
| Larry Fink is, I mean, no angel, right? | ||
| A terrible guy, but he's the one that could step up and buy it. | ||
| I think it was a $25 billion deal. | ||
| Right now, the government of Panama should seize that from Hutchinson-Wampoa. | ||
| Transfer it to Larry Fink's BlackRock. | ||
| Take the cash and send it right back to Hutchinson and Wampoa and say, hey, here's the cash. | ||
| You guys came to a deal. | ||
| It was stopped by the Chinese Communist Party after it had a deal. | ||
| Just like TikTok. | ||
| TikTok's going to be another fiasco because the Chinese Communist Party says, hey, deal off. | ||
| We're not selling. | ||
| Screw you. | ||
| If you want to do anything about it, go ahead and try. | ||
| So there's all these types of aspects. | ||
| This thing has 10 fronts to it. | ||
| All the way from the fentanyl. | ||
| To the Arctic. | ||
| And right now we have to start being creative. | ||
| About how we're thinking about this, the team over at the White House and the National Security Council and, of course, the great Scott Besson and others, because this is so far metastasizing. | ||
| Trade and tariff and what they've done to us on trade is one aspect of it. | ||
| That's the big one. | ||
| But the grievances here on both sides are substantial. | ||
| You heard this morning from Caroline Wren. | ||
| It was 10 o'clock at night in Kuala Lumpur. | ||
| They had told the nations of Southeast Asia, you're not even going to the United States. | ||
| If you've got a delegation, get back. | ||
| Because you're not making a deal with America. | ||
| That is how hardball it's getting. | ||
| Dave Brett, any thoughts about going forward against the Chinese Communist Party? | ||
| Yeah, I'll just start off again with the privaccio bonum, the absence of the good. | ||
| Communism rejects God. | ||
| In the Judeo-Christian West, God is the good. | ||
| And at Harvard, the motto in 1640 in Princeton and Yale and all the publics, their motto was truth for Christ and church for hundreds of years. | ||
| Now, not so much. | ||
| So these universities, what do they believe in? | ||
| So the left always used to beat us conservatives up with the moral arguments. | ||
| They'd make the little pithy, sympathetic moral claims. | ||
| I'd love to hear what the moral claims are. | ||
| We have the moral high ground now. | ||
| Trump is providential. | ||
| He doesn't want to act... | ||
| Pietistic and like we're holy rollers. | ||
| That's not what I'm after. | ||
| We need to make the moral argument that we're the ones fighting for the small guys. | ||
| That's always been the Judeo-Christian West, right? | ||
| Christ came and said, whoever takes care of the least of these, you're good, right? | ||
| In a simple summary, that's the Sermon on the Mount. | ||
| Love your God, love your neighbor as yourself. | ||
| That's the piece I would throw into the White House theorists while they're composing all of their reactions to the non-tariff barriers. | ||
| Everything that China's doing hurts people. | ||
| Everything we're doing helps people. | ||
| And if you draw that contrast, the left does not have a narrative to compete with that story. | ||
| Dave, hang on. | ||
| Charlie Gasparino is reporting that, and I've heard similar to this, it wasn't China last night selling bonds that kind of caused President Trump to get his attention and actually freeze the bond market this morning. | ||
| It wasn't China. | ||
| A lot of people thought China might be offloading their treasuries. | ||
| It turns out... | ||
| Rumor has it it was Japan because they were nervous about the direction of this thing. | ||
| We will make sure we break all that down for you tomorrow morning as we work overnight to get this. | ||
| Birchgold.com If you haven't taken this wild ride today and think you need to know about gold or need to talk to Philip Patrick and the team of everything that's happening in gold and why it's a store of value, why we're going to go through this roller coaster, it's only going to get crazier, | ||
| folks. That much I can guarantee you. | ||
| You're going through a massive geopolitical and geoeconomic earthquake. | ||
| And it's tectonic plate shift is a better term for it. | ||
| It's not going to slow down anytime soon. | ||
| Birchgold.com slash Bannon. | ||
| The Chinese Communist Party already said they're starting a massive de-dollarization effort. | ||
| We wrote the textbook on the end of the dollar empire. | ||
| Go check it out today. | ||
| All of it's free, and the last free installment is just up, Modern Monetary Theory. | ||
| You read all of them, you will start to understand the world you live in. | ||
| That much I guarantee you. | ||
| Dave Brat is going to be back. | ||
| Next hour is going to be on fire. | ||
| We are going to be broadcasting from Los Angeles for a couple of days, and we have some very exciting things that are going to happen. | ||
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| Get ahead of it, particularly on a day like today. | ||
| Who knows what's going to happen overnight? | ||
| One thing I can tell you, the Chinese Communist Party is just not going to sit there and take it. | ||
| Right now, they believe That the United States has finally engaged them in economic warfare. | ||
| Stick around. | ||
| Short commercial break. |
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