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April 10, 2025 - Bannon's War Room
48:35
Episode 4402: The Multifront War On The Devaluation Of The American Dollar
Participants
Main voices
s
steve bannon
29:14
Appearances
c
caroline wren
04:24
m
mike johnson
01:33
p
pete hegseth
02:30
Clips
j
jake tapper
00:08
j
joe scarborough
00:55
j
jonathan lemire
00:49
m
mika brzezinski
00:41
r
rick santelli
00:37
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Speaker Time Text
unidentified
What happened today that was different?
After all his remaining tariff threats went into effect at midnight last night, what happened today was not that the stock market tanked.
It did at the beginning of the day with the tariffs in place, but that's, again, normal for a day with Donald Trump at the wheel.
What was different today was not that the stock market tanked again, right?
It was that the bond market tanked at the beginning of the day.
mika brzezinski
26 past the hour, beautiful shot of Capitol Hill this morning.
This morning, House Republicans will hold a vote on a Senate-passed budget bill after GOP leaders pulled the measure from consideration last night.
It was a major setback for Speaker Mike Johnson, who is pushing Republicans to get on board with the bill and advance President Trump's legislative agenda.
But several conservative fiscal hawks argue the Senate's budget blueprint would You know, Willie, the issue has obviously been for quite some time a $20 trillion addition to the United States debt,
joe scarborough
which is already sitting at $36 trillion.
Nothing fiscally conservative about that.
You have the Senate passing resolution and saying, well, let's just pretend that we aren't extending these tax cuts, which are going to blow a hole, of course, in the deficit in the United States.
debt and some, uh, some, uh, I guess I'll say fiscal conservatives, uh,
I'm glad there are a few that still at least call themselves that.
And the House Republican caucus are saying, we just can't do this without additional cuts.
We'll see where it goes.
But right now, I think some tough sailing for the Speaker simply because, I mean, how does any Republican, how does anybody that calls themselves a fiscal conservative, Support a budget that is going, and tax cuts that are going to lead to $20 trillion in new deficit and debt spending over the next 10 years.
pete hegseth
Since President Trump was elected, our two nations have done more to strengthen cooperation in a few months than we have in decades.
And President Molino, who we met with earlier, we have you to thank in large part for that as well.
We're partnering closely in three areas.
First, securing our borders and What Panama has done in the Darien Gap is incredible.
Crossings down 99% since a year ago.
Second, we're countering violent cartels and criminal enterprises.
And third, we're securing the Panama Canal and countering China's malign influence.
The Panama Canal is key terrain that must be secured by Panama, with America, and not China.
To that end, that is why the United States and Panama have just signed a Memorandum of Understanding on Cooperative Security Activities.
This Memorandum of Understanding will increase joint training, exercises, operations, and overall interoperability between our two forces.
Re-establishing rotational and joint presence at Fort Sherman, Rodman Naval Station, and Howard Air Force Base.
at Fort Sherman, reviving
In fact, right now, partnering with Panama, we have two cruisers, two USS Coast Guard cutters, F-18 fighters, a U.S. Marine Corps infantry company, over a thousand U.S. troops supporting partner operations in Panama.
In this region, as we put America first, we are putting the Americas first as well.
We're doing this by confronting shared threats and shared challenges in this hemisphere, starting as President Trump has led the way by securing our southern border, getting 100% operational control, because border security is national security,
and it starts at home.
We're doing this by stopping illegal migration, destroying transnational cartels and gangs, and ending the era of capitulation.
As I said yesterday, we are helping to take back the Panama Canal.
From communist Chinese influence.
Like our partners across Central America and South America, the United States wants a hemisphere that is secure, prosperous, and full of sovereign nations.
And we will achieve these goals together, standing shoulder to shoulder with our allies and partners, with President Trump leading the way.
mike johnson
Liberations as recently as last night, and it's very productive.
And I'm happy to tell you that this morning I believe we had the votes to finally adopt the budget resolution so we can move forward on President Trump's very important agenda for the American people.
This process has required a lot of close consultation between the White House and the Senate.
And all of that has been necessary because we want to make sure that we are delivering on our shared goals in the budget reconciliation process.
Our big, beautiful bill has to reflect all of that.
And so it is big, and it involves a lot of areas of policy, and so it requires a lot of close coordination.
Our two chambers are directly aligned also on a very important principle, and that is the principle of fiscal responsibility.
We are the party that delivers and ensures that.
So we have a number of aims here.
Our aim is to deliver on our promises in this big, beautiful bill regarding things like border security and restoring peace through strength and American energy dominance and regulatory reform to get the economy really humming again.
And, of course, also tax relief, tax reductions.
We have to make the tax cuts permanent, and that's all involved and enveloped in this big effort and all the other promises and priorities we made.
Now, it's important to note that at the same time, we also need to achieve the maximum amount of savings for the American people, because that's what fiscal responsibility is.
And we even want to start reducing the deficit.
So with all that in mind, our first big, beautiful reconciliation package here.
jonathan lemire
So we got a little pushback from some senators yesterday on tariffs, and they were able to break through to him, as well as the bond market.
But something that was sort of overshadowed, because it came just before actually Trump blinked and pulled a lot of these tariffs down, the House of Representatives, as part of their legislation, took away their own power to restrain his ability.
The president's ability on tariffs.
They surrendered.
Speaker Johnson was going to put it in the budget.
We won't have any say on tariffs for, I believe it was six months or so, meaning it wouldn't be until the fall or later before they could weigh in on any of this.
So yet another example, guys, where this Congress has, you know, the co-equal branch of government, not so much.
They're not interested in this.
They're willfully ceding power, more and more power to the executive branch.
unidentified
All aligned.
on the need to make the 2017 Trump tax cuts permanent, to restore American energy dominance, to grow our economy and to make a generational investment in our border security and also make sure that we are ready militarily to deal with any of the threats that the country Faces around the world.
And those are all things that are addressed in this budget resolution, which is why it's really important that we act.
The budget resolution, as you know, is the first step.
It unlocks budget reconciliation, which is where all this can be achieved.
But one of the principal objectives in our budget resolution and in the House's, as outlined by the Speaker, is spending cuts.
We have got to do something to get the country on a more sustainable fiscal path, and that entails us taking a hard scrub of our government and figuring out where we can find those savings.
And our ambition in the Senate is we are aligned with the House in terms of what their budget resolution outlined in terms of savings.
The speakers talked about $1.5 trillion.
We have a lot of United States senators who believe that is a minimum.
And we're certainly going to do everything we can to be as aggressive as possible to see that we are serious about the matter not only of making our decisions,
So we're ready to move forward.
I'm hoping that the Speaker and his team and his House colleagues can succeed today, get the budget resolution passed, and that will set us up for the next step in this process.
rick santelli
Coming in under minus one-tenth on headline, minus one-tenth.
We're expecting the exact opposite.
We're expecting up one-tenth, minus one-tenth.
We equal where we were in May of 2020 to find a lower number.
You're all the way to April of 2020, the heavy COVID-affected months of the calendar.
If we take food and energy out, still coming in on the under.
Up one-tenth, we're expecting triple that number.
Up one-tenth, well, that would equal where we were in June of last year.
To find a lower number would be zero in January of 21. These are definitely low numbers.
steve bannon
This is the primal scream of a dying regime.
Pray for our enemies.
unidentified
Because we're going medieval on these people.
steve bannon
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 try to do everything in the world to stop that, but you're not going to stop it.
It's going to happen.
jake tapper
And where do people like that go to share the big lie?
unidentified
MAGA Media.
jake tapper
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?
steve bannon
If that answer is to save my country, this country will be saved.
unidentified
War Room.
Here's your host, Stephen K. Bannon.
Three, two, one, here.
steve bannon
It's Thursday, 10 April in the year of our Lord 2025.
Explosive overnight news and then early this morning.
China, the market is down almost 1,000 points just right under it after a good overnight in Asia and in Europe.
And the reason is that it's full-on engagement now in a trade war and maybe even expanded beyond that of the two titans of the world economy, the Chinese Communist Party and the United States of America.
So China is fully engaged in this now.
That's why Pete Heggs, they played that long clip of Pete in Panama.
Inflation number, amazing.
Low inflation numbers coming in.
I think second month in a row under President Trump.
We have E.J. and Tony.
Some of his analysis will try to get him up, but the inflation number looks good.
last night as we left you they barely voted out the rule in the in the house they had three notes that's so extraordinary just to get something on the floor they had debate last night they didn't bring it to a vote or actually I think they tried to bring it to a vote they dropped
it they had a bunch of meetings and this morning they had another conference or another discussion and then joint press conference what the hang-up is is the house Johnson had not there was no mechanism to actually commit
And this is, you know, John Thune sat there and talked about fiscal responsibility.
Speaker Johnson talked about fiscal responsibility.
This reconciliation, I realize the budget resolution is just kind of the starter's gun to get it rolling.
There can be other significant cuts coming in.
But when they talk about $1.5 trillion, to my knowledge, they're still talking over 10 years, and that's $150 billion.
It's just not going to happen.
This budget, it looks like it's got added the deportation money, which is $170 billion, a top-up on the defense budget.
As Pete Higgins said the other day, it gets over $1 trillion.
The Senate version has, I believe, a lift of the debt ceiling of $5 trillion, and I only think this is a two-year deal.
It's very unclear about all this.
That's one of the reasons.
That I think the market's a little unsettled.
Yesterday, something happened very important.
I've talked about, and particularly since Liz Truss, the Liz Truss situation in England a couple of years ago.
If countries get into these situations...
Where it looks like, hey, you may be going in a totally different direction.
And yesterday, that was both on the issue of the tariffs and the structure of the tariffs and process for the tariffs.
I think it was very important to get a process in here because President Trump did not blink.
President Trump has not had his negotiators.
Do anything but throw down hard.
And of course, we've hit Canada and Mexico, two of our biggest trading partners, with pretty massive tariffs.
The issue yesterday is the bond market did hiccup a little bit in the morning.
They had a good Treasury auction before Scott Besson met with the President, the Secretary of Treasury.
But as Ray Dalio warned us, you have one failed Treasury auction here, particularly selling 10-year securities, you're going to have a major problem.
The bond market gets a vote, and it's the first time that President Trump really has had, he actually said last night, that bond market kind of concerned him.
And it ought to concern people.
I think one of the reasons the market's down, two reasons today.
Number one, I think yesterday was part of a short squeeze, just not guys, institutions coming in by and long, but covering short positions.
Number two, I think this Chinese, the trade war is much bigger than that.
This can go on many, many, many different aspects.
Pete Hex has said, hey, we're essentially seizing the Panama Canal.
If we have to, we'll do it militarily.
Last but not least is this, whatever the financial and economic plan is going forward in fiscal year 2026, it's very uncertain.
They are going to have a vote.
I think the House has got the votes.
That Johnson's got has been a lot of arm-twisting, but I think it's also a lick and a promise to say, hey, we'll put the 1.5 trillion the Senate has in there and let's just deal with it.
Finance, geopolitics, capital markets, the globe, is China at war with the United States of America?
All next in the war room.
unidentified
I got American power.
I got American faith.
In America's world.
Here's your host, Stephen K. Band.
steve bannon
Okay, a lot going on in Capitol Hill, a lot going on in capital markets.
Dow Jones Industrial down 900.
Look, it's going to fluctuate, but this is after strong showings in Asia and in Europe.
Overnight, a 10-year treasury is kind of settled at a 4.3, so some calm in the bond market.
Exploded this morning.
It's $3,144.
It's not about the exact price of gold any day that's going to fluctuate.
What you have to understand is what is driving gold and why is it a store of value and why is it a hedge against times of financial uncertainty.
The best way to do that, we think, is the guys, men and women at Birch Gold who are just terrific.
So take your phone out right now.
Easy way to start.
Just take your phone out and text Bannon, B-A-N-N-O in it, 989898.
Get the guide.
They put out a guide, a pamphlet that you can study.
Ultimate Guide on Owning and Investing in Gold and Precious Metals in the Era of Trump.
You do that and you can also get access to Philip Patrick and his team.
Also, one of the things about this Chinese, the war against the CCP.
As we told you, they've been at war for us many, many years.
Carolyn Wren is in Southeast Asia.
I think she's in Jakarta.
She's going to join us in a moment and give us an update.
Her update yesterday was, quite frankly, brilliant and teed up.
She actually broke the news that she was coming to Southeast Asia.
And the first move the Chinese have done in this war that we're in is not call President Trump and say, hey, I'm going to send a team to D.C. and let's sit down.
No, he's actually going to go to Southeast Asia and really show up, I think kind of uninvited, and just have a sit-down with his neighbors, various neighbors.
So he's also talked about part of this, and this is a multi-front war.
They've been the drivers in the de-dollarization.
We're the prime reserve currency.
Whether we should continue to be the prime reserve currency is an interesting and fascinating debate, and we should have it on a national scale, like even make it part of the midterms or the 2028 presidential campaign.
But just to lose it overnight would be catastrophic for this country.
That's what the Chinese Communist Party is trying to do.
For four years we've been working on this and giving to you the end of the dollar empire, what would happen, what's causing...
People to actually say we can get off the dollar and what would be the consequences.
It's totally free.
Go see it.
Once you do that, you understand how gold and precious metals fit into the equation of fiat currency.
That's birchgold.com slash Bannon.
Into the dollar empire.
You get to know Philip Patrick and the team.
Just go do it today.
Everything's free there.
All the information.
Inflation. Amazing inflation number for the second month in a row.
And E.J. and Tony's got some incredible charts.
We'll go through them in a moment.
But Caroline Wren, you kind of called it yesterday about the ASEAN conference.
You gave a tip that, hey, what she was demanding is that people not sit – President Trump's laid out a process, right, to cut these deals with our various trading partners to basically get to reciprocity but also to stop everything else.
And quite frankly, a big part of that's going to be driving jobs back here because of the non-tariff barriers.
And the currency manipulation, all that, I'm not so sure you're going to get to total agreement with everybody.
So I think there's going to be plenty of room to bring particularly advanced manufacturing back.
You're in Jakarta today.
Any update?
Because the Chinese companies, people understand they're just not going to surrender.
The Daily Mail's got a story about how they're going to hit us with a $1.9 trillion tsunami of various things on the trade side.
So the CCP, as the Wall Street Journal said the other day, they've been preparing for this for a number of years.
And this is kind of what this is all about, because we have to sort out the $500 billion of advanced manufacturing that the CCP has stolen from us, or they've stolen trade.
But what we get back every year as far as trade goes.
Caroline Wren, your thoughts and observations from Jakarta.
caroline wren
Well, a huge hat tip to President Trump and his team, particularly Secretary Besson.
I do think that they've been playing this all strategically and truly incredibly.
And President Trump's announcement of the 90-day pause on the tariffs, excluding China, really reflects his art of the deal negotiation strategy.
And it really does.
It was a brilliant idea because it helps take a little...
...off of the Southeast Asian countries.
Well, it's going to take at least 90 days to negotiate these deals.
And they are all, they've come to the table, every single one of them.
They desperately want to make a deal with the United States.
And so by lowering the tariffs to 10% for all those nations, I mean, Trump's encouraged that dialogue.
He reduced the market tensions, but then isolated China when he did that significant tariff increase.
I think, what is it, up to now 125% or more.
So I just think he's effectively, he's surrounded China economically.
He's leveraging the isolation to strengthen his bargaining position.
These are genius moves that we haven't seen since Henry Kissinger, quite frankly.
And I think this is a combination of when you put two brilliant people together, like a brilliant dealmaker like Donald Trump and a brilliant, brilliant economist and strategist like Secretary Besant.
And we are seeing the fruits of that right now.
And I cannot wait to see what these deals look like over the next 90 days.
But in the meantime, President Xi is not going to go quietly.
As I broke on your show yesterday, I could tell as I was in Kuala Lumpur, a massive amount of Chinese presence was there, particularly people that looked like our version, I guess, of Secret Service.
So it was quite clear some movement was going to happen.
Well, they announced that he's going to be coming on April 15th and 16th to Malaysia.
Keep in mind, he has never been to Malaysia.
And he's coming to come put pressure on Malaysia to not sign a deal with the United States.
I would love to see the United States actually invite the Malaysia delegation to DC on April 15th.
Maybe we force these countries to make a decision.
Do you want to come negotiate at the table with Donald Trump in Washington, D.C.?
Or do you want to stay back and host President Xi?
This is a decision that you have to make.
The other big thing I'm hearing right now is that while President Xi is on this, we think it's going to be about a week-long tour.
After Malaysia, he is going to Cambodia and then to Vietnam.
Why Vietnam?
Because they were in today negotiating successfully with Secretary Besant.
They went yesterday with the USTR negotiator.
Vietnam is at the table.
But while President Xi is traveling, we expect him to up the aerial drills over Taiwan.
That's the next move in play that he is going to do right now during these negotiations.
And we need to be prepared.
That's why Secretary Hegseth was in the Philippines two weeks ago.
It's why he was at the Panama Canal two days ago.
This administration is prepared, and they are going to win this trade war against China.
steve bannon
The political pressure he's going to put on Southeast Asia is going to be enormous.
But this is why Hague says in Panama yesterday saying, hey, we just signed a memorandum of understanding with the Panamanian government.
We're going to do joint military exercises.
He's saying we're going to ensure the security of the Panama Canal and it's not going to have a Chinese Communist Party participation in it.
Yesterday we also had on the show about the NBC News piece about potential kinetic military activity...by U.S. armed forces in Mexico against the fentanyl and the Mexican drug gangs who are active partners of the Chinese Communist Party in their chemical warfare attack into the United States.
And then Caroline just said there's increasing activity around Taiwan.
People are very serious about that.
We've actually forward deployed, I know, some bomber groups over to Diego Garcia, although the ownership of Diego Garcia, I guess, is being worked out right now.
and that is in the middle of the Indian Ocean.
So those can go anywhere up to Middle East or to the Pacific.
But there's a lot of activity going on.
Folks, I don't understand.
The Chinese in Carolina, I think you would agree with this since you're in Southeast Asia and see how they roll.
They're not just going to sit there and call President Trump and say, hey, let's have a meeting.
I think that's very unlikely.
One of the reasons I think it's unlikely, I'm not sure Xi would be the guy in charge of the Chinese Communist Party and the president of China if he did that.
He has hardliners just like Putin has hardliners.
He has hardliners who are taking a hard line against the United States and see us as their ultimate enemy as we see them as the existential threat to world peace.
What's the response of people in Southeast Asia?
I take it they can't be too...
caroline wren
Well, they are.
But this is, I heard a really interesting story yesterday about this is how China comes in and operates in these countries.
Someone told me that the head of their minerals in their country took a meeting with some folks from China.
There was 10 people from the Chinese delegation showed up.
Each one of them handed him a business card.
Each business card was several ounces of gold with their names each sketched into it.
What were they doing?
They were handing that man about $30,000 worth of gold, you know, indirectly.
And then at the end of the meeting, they said, okay, we're going to come back tomorrow.
How many people should we bring?
Basically saying, how many people and gold cards should we bring with you to start to bribe you?
That is what we're up against in China.
They do not play games.
The thing about China is that if you bribe someone in a business setting in China, you get executed.
If you leave China and go bribe someone in a foreign country on behalf of the CCP, you get a promotion and you get a raise.
And so right now we've got to be, I mean, the CCP is on the march and we are honest brokers in the United States.
But right now what we have.
Back to the message to all of these countries around the world is China is not a smart long-term investment for you.
The United States is.
We are more stable.
We are a better partner.
We are a better partner with trade.
We are a better partner with negotiations.
China comes in, promises you a bunch of cash in the world.
They never end up paying.
They don't pay their taxes.
And they don't assimilate to your culture.
And so I think that these nations know that, which is evidenced by 75-plus countries saying, please.
Donald Trump, we want to come make a deal with you.
steve bannon
Yeah, and there's a process set up now to do that.
Caroline, where do people follow you on your White Lotus tour, ma'am?
caroline wren
It is at Caroline Wren on Twitter, Getter, and Truth Social.
steve bannon
So we went from Below Decks.
It was Below Decks.
Now we're in White Lotus Season 4, right?
You're like a traveling reality show?
caroline wren
Yeah, pretty much.
steve bannon
Caroline, thank you.
Thank you for reporting.
Great call yesterday.
Big scoop.
caroline wren
Thank you.
steve bannon
Short commercial break.
Texas, Cornyn, John Cornyn came out yesterday and said some terrible things about Ken Paxton.
The fight in Texas is going to be pretty vicious.
The Senate primary.
Axios already got a big story up how it's MAGA versus another round with the Bush-Hunter down in the great state of Texas.
Patriot Mobile, Glenn's story and the team have been so vital down there.
Go to Patriot Mobile, 972-PATRIOT.
Check out that company today.
Shift over.
You know they're with you.
Do the shift today.
Short break.
Back in a moment.
unidentified
Back in a moment.
Here's your host, Stephen K. Band.
steve bannon
We're going to have more on the Texas race this afternoon, maybe tomorrow, but it's already started out pretty vicious.
Cornyn already started the smear campaign against Ken Paxton in Texas, folks, and for the great folks in Texas, this is like the ongoing...
You know, the ongoing battle.
We've had, you know, we've had the impeachment of Paxson, then the trial, which his audience was very involved, making sure that people understood the consequences of voting to convict.
You've had the massive, you know, Soros trying to turn Texas blue and then purple.
And then because of the grassroots and the MAGA movement and President Trump, President Trump won by 14 points.
You got Ted Cruz won at nine.
These are numbers that are just...
Absolutely blowout numbers.
But then you had the house situation, where the Texans, these great conservatives, we've been down there, and that's why Glenn Storing and the team at Patriot Mobile and their PAC have been so terrific.
I went down and gave talks in Denton County and Tarrant County.
It's just been incredible down there.
The level of enthusiasm, and now you're going to have probably for 26, for this cycle, The most intense, although Michigan may be teeing up to be that, the most intense will be Texas.
And Cornyn was right.
This is going to be over a $100 million fight.
But Cornyn, to me, is as bad as they get.
I mean, he's just a McConnell-Bush acolyte.
He tries to fake it sometimes to make sure people can say he's a conservative.
I just don't see it.
Not just a moderate.
He's a globalist and always supported the deep state.
Ken Paxson's a good man, but that's going to be a tough one.
That's why the people at Patriot Mobile have been so fantastic.
Glenn Serena's team on all the different issues down there in Texas.
The service is fantastic.
You get a free month if you use Bannon, but go to 972-PATRIOT.
972-PATRIOT.
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Get all the details.
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In Texas, we're going to spend, Axios has a big story today about this.
And it's got Charlie Kirk is giving a quote in it that we talked to them and said we're going to be very involved in this thing.
And it's like a continuation of these fights that we've had before.
Back to capital markets and particularly gold.
I mean, at $31.44, Particularly with the market down, these markets are going to be all over.
One of the reasons you've had this reaction this morning is that it is, first of all, some of that yesterday was a short cover.
That was historic, 3,000 points.
But it's also people are waking up, stock soars, Trump presses tariffs, pause and hits China harder.
The entire thing about the geoeconomic and the geopolitical reset.
It is predicated around China and what our elites have done to basically empower China and make China wealthy at the expense of working class people in the middle class of the United States.
That gets down to the beating heart of it.
We've talked about it on the show for years and years and years.
We consider this show to be the lead in the effort.
To back Lao Bai Jing, because the United States and people in the United States can't take down the Chinese Communist Party.
Their legitimacy is questioned by their citizens.
And Lao Bai Jing, that's a term of endearment in China.
That means old hundred names.
There's essentially, roughly, mythically, a hundred last names in China.
And so old hundred names is what they say is kind of John Q. Public, or the little guy.
He's the guy that everything kind of happens to, but it's on his shoulders that the whole country kind of exists.
So it's a term of endearment, Lao Bai Jing.
Only the Lao Bai Jing can make a decision about who rules them and who governs them.
But I will tell you, they have no love for the Chinese Communist Party.
The Chinese Communist Party is now in a...
A huge crisis internally about legitimacy because even from the founding of the People's Republic of China, it's been very questionable actually how they came to power.
They weren't democratically elected.
They never opened up to elections.
They never opened up to the sovereign will of the people.
They took control and they took control with a bunch of different institutions and people helping them is one of the big controversies.
It's really what started off the whole situation with McCarthy.
This is kind of lost in time.
They think it was internal.
It didn't start with that.
It started in the late 1940s with Time Magazine and with others.
uh... in the what they called the china hands are people in the united states that were very close to china the question was who lost china they've been an ally in world war two uh...
they had taken the brunt of the japanese imperial army on mainland china they lost tens of millions of people it was brutal some of that was fighting each other the chinese were very good at fighting each other and not really fighting the japanese uh...
but it kinda came as a shock
There was a lot of questions.
The Chinese Communist Party has always internally had an issue with their own legitimacy.
Wang Shishan and others have led an effort for years about how to do that because they realized they only exist because they've made a faustian pact with the people of China that we will give you tremendous economic returns and really bring you into the middle class.
But at the cost of no political freedom and no real freedom.
It's run as essentially a slave labor camp.
The elites on Wall Street know that.
They knew that in 1989 when Tiananmen happened.
That was Bush's first and only term.
The Clintons knew it when the Clintons had the Chinese generals coming into the White House with bags of cash.
The fix has been in by our governing class, by the investment banks, by the providers of capital to essentially shift capital out of the United States and away from manufacturing to what was essentially a slave labor camp in China.
This has been brewing for years.
Kevin O'Leary gave just a magnificent summary.
To, you know, on CNN the other night.
And it's a good lesson, I think, for the, and maybe I'll play it later today.
It's a good lesson for the war on policy because these are things we talk about, if not every day, every other day.
For years and years and years, and particularly the beginning of the show when we started five years ago and we shifted from impeachment to pandemic.
Why were we the first people on pandemic?
Well... Given our knowledge of China, given the relationships we have, we knew immediately this was going to be a huge deal when other people kind of laughed it off.
And we also knew it came from Wuhan.
There was no doubt about that.
Now it's become clearer and clearer and clearer that when President Trump – when President Trump engaged with Bob Lighthizer and Peter Navarro to really negotiate a massive overall deal with the Chinese Communist Party, it was the deal that
was one that had seven different verticals to it, took care of –
All what we call the original sin, state-owned industries, their currency manipulation, all of it, counterfeiting, everything they've done, and also labor practices, the crushing of their own people.
Over almost two years of negotiation from 2017, very early, because we did in the White House first, the accommodation has won out initially about how to kind of work out something.
That took a couple of months and it came off the trip of Xi coming to Mar-a-Lago.
And President Trump was furious when he saw the product.
He says, I'm not doing this.
This is just more tapping along.
And he then empowered Navarro and Bob Lighthizer to kind of work on a deal that took two years with Li He.
In May of 19, that was prepared to be signed.
They were prepared to go to final documentations.
And the Chinese, understanding they were building this new relationship with Russia in the One Belt, One Road, things were going good.
President Trump was under assault with the Russiagate.
This is also what the deep state was trying to do in protection of China.
And the Chinese just looked at the last second and said, no, we're not going to do it.
Now, unrestricted warfare, they've been hitting us with psychological, with cyber, with political, with economic for two decades.
So when we say this economic war is heated up now, it's just now officially the United States government is going to get engaged.
President Trump, that's a hard throwdown.
125% tariffs, and particularly to single them out.
To say, hey, everybody else, I'm going to keep it 10%.
And 10% is huge.
Also, if you look at Mexico and Canada, he's got huge tariffs on them, and he's still got the 25% tariffs on the automotives coming in here.
So people say President Trump's blink is farthest from it.
What he's done is set a process to get all the other nations of the earth in here and to kind of figure this out on reciprocity, and they've got something to say about that.
And they should.
We're not sitting there going, this is it, this is reciprocity, you have to buy into this number.
If they have arguments about that, you know.
Scott Besson, Peter Navarro, President Trump particularly, has done enough transactions and deals to understand it.
He'll listen.
But now we're engaged in it.
And if you look at the battlefield, and this is one of the things you try to do here in the War Room is make sure you understand that.
It should not be lost on you.
That the Vice President Vance goes to Greenland, that Pete Hags does his first tour as SecDef.
He went and obviously gave a speech in Munich, but the first real tour he does, he goes to Hawaii, the third island chain.
He goes to Guam, the second island chain.
He goes to the Philippines and to Japan and talks about army in the Philippines, makes a basic commitment to keep the free navigation of the South China Sea.
He's then now in Panama.
That clip at the top of the show was as strong as any defense secretary I've heard.
A memorandum of understanding.
And it's to basically say, hey, the Panama Canal, we're going to work with the Panamanian government.
The Chinese Communist Party is out.
You're going to be out.
This is what we're going to work with the Panamanian government.
But this is going to be an asset controlled by the United States of America.
This is why I'm calling for immediately what they should do is set up for Larry Fink to wire the money.
To Hutchinson-Wanpo, to the Panamanian government.
Just had the Panamanian government bless the deal.
Wire the money to Hutchinson-Wanpo because the CCP has stopped the deal to transfer the docs, the management of the docs and the stevedores and all that into Panama Canal from a Chinese company.
Does that sound familiar, what they do?
Hutchinson, Wampo, one of the most important trading companies in Hong Kong to transfer that to Larry Fink and BlackRock.
That should take place immediately.
Also, the Chinese government has said, hey, guess what?
We're not going to do a deal on TikTok.
Then, I don't know, maybe we seize the assets in the United States.
I think we have to start playing even more hard ball with the CCP.
They're increasing exercise around Taiwan.
They are not going to counter
Number one, their senior cadres can't kowtow.
If they kowtow to what we wanted today, my strong belief is that they would be removed by certain ultra-nationalist elements in the military and also in the party.
Remember, the Chinese Communist Party is run by about five factions.
Okay, five factions that are always, it's Game of Thrones all the time.
These five factions, you should understand.
Are some of the richest people on earth.
They are richer.
They have more wealth and stolen more wealth from the Chinese people than like the monarchies in the Gulf Emirates, particularly Saudi Arabia.
The Chinese Communist Party senior cadre personnel is some of the wealthiest in the world.
The other I recommend, and I understand President Trump is not for this.
President Trump is very much wants the American universities.
I fully understand that.
His thinking on this is very sharp and very dug in.
He's kind of immovable on this, although I recommend, given everything that's going on and the commitment that the Chinese students, not their fault, they have to make a commitment to the Chinese government and essentially to their intelligence services to do a monthly update where they're here as an exchange student.
I think it's just better for this moment in time.
Of what's going on with us vis-a-vis the Chinese government, that we immediately revoke all 350,000, which I believe the number is.
Does that number shock you?
Revoke the student visas immediately.
Get them on a plane and get them out of here.
And allow all American students to fill those...
To fill those billets immediately, those student billets, a lot, in some of the best universities in the country.
So I strongly recommend we do that as we're going to have to go to other measures here besides just the tariffs, because the Chinese Communist Party is not going to bend the knee.
As Carolyn Wren just said, yesterday at ASEAN, they were telling people, don't go to the United States, do not go to the United States, do not engage in this process.
Now they're actually saying, hey, next week we're showing up, so be there.
Don't be in Washington, D.C. Short commercial break.
We're going to leave you with Take Down the CCP, the great anthem from Miles Gros.
We're going to be back in the warm in just a moment.
unidentified
We'll be right back.
Here's your host, Stephen K. Bann.
steve bannon
Okay. Markets are all over today, and a lot of turmoil, and it's going to be like that.
The reason is this, that the, and Asia had a good night overnight, and particularly Japan and Europe had a good day, not a bad day.
Very turbulent U.S. markets, and the headline right there, hits China harder.
This is the game in Chinese.
And anybody associated with President Trump that's telling him that the Chinese are going to kowtow immediately, hey, maybe they do, and that would be monumental, and I'd be the first to say, good on you.
I love it.
This, what President Trump has done, is brilliant.
He's going to isolate the Chinese Communist Party.
You see now, Caroline Wren yesterday from Kuala Lumpur, today from Jakarta, the Chinese Communist Party is all over trying to get people to turn on the United States.
And they're going to be making – she's going to be making personal visits.
And remember, the head of China does not travel easily.
He doesn't show up on places randomly.
There's always a purpose.
The predatory capitalism that's kind of the British East India Company model that they've done in reverse is very, very powerful.
Very, very powerful for the one belt, one road.
And so you've had kind of elite capture with predatory capitalism just like the Brits used to do it using the British East India Company.
And it's worked out terribly for the countries that took the money.
That's why gold is now over 31. It's 31.44, still close to it.
Explosive, explosive.
Growth in that.
Over the last 25 years, gold has actually outperformed the S&P 500.
That is the guy from Bloomberg that said that last week, which is extraordinary.
You don't need to know the price of gold.
You need to know the driving factors behind it.
That's why I go to Birch Gold Day.
Easiest way to do it to start off, just take your phone out and text.
Bannon, B-A-N-N-O-N 989898 and ask for and get the ultimate guide for investing in gold and precious metals in the era of Trump.
I think it's a good place to start.
Very accessible and it puts you in contact with Philip Patrick and his entire team over at Birch Gold.
That's what you ought to do.
Get some pattern recognition here, folks, because it's going to be turbulent for a while.
That I can tell you in this turbulence.
Natalie Dominguez, by the way, the response on the triple lock, on the million dollar triple lock,...protection program has been extraordinary.
Natalie, tell us about it.
unidentified
Awesome. Yeah, so normally we talk about news stories, and I know we've talked about squatters in the past, but I wanted to bring up this story because I just found it to be incredibly wild.
A woman in Florida has done this to two homes.
Always befriend your neighbors, guys.
There's homeowners that split their time between Florida and Texas.
They find out a woman was squatting because their neighbor called it in.
Police show up at the door.
This woman says to the police, finders, keepers, losers, weepers.
This is on record.
with the court case.
It's wild.
But what happened was she had gone into the home, started squatting, and then presented a quick claim deed to the police saying, nope, I own this home now.
Luckily, when they researched the record, it hadn't actually been filed properly with the county.
So the county hadn't accepted it, but she had filed it.
And this is like just the wildest thing to me.
One, she told the police that she had seen other people doing this to properties and that's what gave her the idea to do it.
This is the state attorney.
me the most was that the state attorney came out afterwards and I quote said, although the deeds were not accepted by the clerk of court in this case, if it had been, excuse me, there would have been drastic and expensive consequences for the homeowner.
This
And then continues to say...
That the homeowners can easily protect themselves against this crime through monitoring systems.
So basically, this is what I'm hearing.
It would have been devastating for the homeowners, but homeowners can protect themselves.
But the only thing that stood between this woman and owning this person's home was that she didn't fill out part of the transfer document properly.
There's nothing set up at the county side that would have stopped them from taking it other than maybe a signature or an address not filled out.
That's wild to me.
I don't know.
What do you think, Steve?
Is the story crazy or just me?
steve bannon
I'm glad I got a home title up.
You're telling me that the squatter could just go down to the county, fill a quick claim deed, nobody does any checkings, that it might have slipped through if it wasn't for some technicality, and then the owner and the state attorney says then the owner's going to have a long fight.
First off, somebody else is in your property, which is bad enough, but you're going to have a long fight paying lawyers to dig them out of there.
And maybe, you know, it might be some small possibility that doesn't work and they take the home.
Is that the reality?
unidentified
Yep, absolutely.
And I know you guys have had Matt Cox on, the criminal that did this like 20 years ago and went to prison for over a decade.
He said that's something he used to do.
He would go and he would actually rent a property, be in the property for a little bit.
And then...
Get all the information he needed and then file the quick claim deed and then go take out all the equity.
So, you know, that's why we built our million dollar protection the way that we did.
We're not just monitoring and alerts.
Like, yes, some of these counties have free alert systems, but what they don't do is help you after the fact.
They're like, okay, go get a lawyer.
Our restoration is the most important part of our million dollar triple lock protection.
We have built a network of legal experts across the U.S. No matter what jurisdiction you're in, whatever we're dealing with, we're prepared, knowledgeable, and ready at a moment's notice to fight for these homeowners.
The last thing that you want is someone living in your house while you're fighting a two-year-long legal battle.
So you can go to HomeTitleLock.com, use the promo code Steve.
You're going to get a 14-day free trial and a title history report to make sure that you are not already a victim.
This is the most important thing that you guys can do today, especially in a sense of the market.
Everything is going on with homes right now.
Hometitlelock.com.
Promo code Steve.
steve bannon
Hometitlelock.com.
Promo code Steve.
Do it today.
Don't let one of these horror stories, because if this happens, you're not going to be on the ramparts.
And Mike Davis is about to join us to tell you exactly the impact that you have had this audience.
Natalie, Hometitlelock.com.
Natalie, great work.
Love this new program.
unidentified
Thank you, man.
steve bannon
The head of education services at Home Title Lock.
She's fantastic.
Just done a fabulous job.
Next hour, Mike Davis on the Supreme Court's now come in, I don't know, five or six times.
You know why?
You, the audience.
You gave him a wake-up call with your calls and your emails and your text messages.
Mike Davis to give us a battlefield report.
Raheem Kassam is just back from Panama.
The great Bill Gertz from the Washington Times, the most dialed-in reporter about the Chinese Communist Party in the Great War before us.
And then EJ and Tony.
Unbelievable economic numbers on inflation.
All of that and constant updates.
What's happening on the Hill?
Going to leave you with the right stuff.
We're back in two minutes.
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