April 10, 2025 - Bannon's War Room
48:47
Participants
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| Speaker | Time | Text |
|---|---|---|
| This is the primal scream of a dying regime. | ||
| Pray for our enemies. | ||
|
unidentified
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Because we're going medieval on these people. | |
| 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. | ||
| And where do people like that go to share the big lie? | ||
|
unidentified
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MAGA Media. | |
| I wish, in my soul, I wish that any of these people had a conscience. | ||
|
unidentified
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Ask yourself, what is my task and what is my purpose? | |
| If that answer is to save my country, this country will be saved. | ||
|
unidentified
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War Room. | |
| Here's your host, Stephen K. Vance. | ||
| You're welcome. | ||
| Okay, Thursday, April... | ||
| 10 April, Year of Alert 2025. | ||
| The Engine Room informs me, again, Monica Crowley was confirmed, I think, yesterday by the United States Senate to be head of protocol. | ||
| So she's now been confirmed. | ||
| Once you're confirmed, too, many, many things can happen. | ||
| You saw the Secretary of the Army stepped in to take the burden of ATF. | ||
| Off of cash. | ||
| Cash got enough to do at the FBI. | ||
| And according to Tom Fitton and some of our colleagues, maybe got to work longer hours. | ||
| So ATF is now with the Secretary of the Army. | ||
| The reason was the guy had been confirmed. | ||
| So very, very important. | ||
| So much in the second hour we're going to break down from the economics to the politics to the judicial and try to break it all down for you so you understand where the battle is right now on trying to thwart. | ||
| President Trump's second term and particularly President Trump trying to reorganize the world geopolitically, geostrategically, and geoeconomically. | ||
| I want to start with the Mike Davis. | ||
| Mike, I think it's five or six cases now that the Supreme Court, Justice Roberts, has stepped into. | ||
| What was his wake-up call? | ||
| I thought Roberts was going to try to avoid as much of this as possible. | ||
| It looks like somebody rung his bell. | ||
| How did that happen, sir? | ||
| Well, President Trump has gotten five monumental wins in the Supreme Court over the last week. | ||
| And the Chief Justice is stepping up and reining in these activist judges who are sabotaging. | ||
| The president's core article to executive power. | ||
| President Trump won a broad electoral mandate, 312 electoral votes, all seven swing states, the popular vote. | ||
| He's doing exactly what he promised American voters he would do, which is cut waste, fraud, and abuse with Doge. | ||
| Secure our border. | ||
| Get illegal immigrants the hell out of our country, especially foreign terrorists with Trende Aragua and international gangbangers with MS-13. | ||
| President Trump's doing the unthinkable. | ||
| He's actually doing what he promised American voters he would do. | ||
| He kept the House. | ||
| He won a comfortable majority in the Senate. | ||
| The last place these Democrats have to go are these with these activist plaintiffs, with these bogus cases, with these activist judges in places like D.C. They were sabotaging the presidency. | ||
| And the chief justice is finally stepping up after two months of judicial sabotage. | ||
| It's not judicial review. | ||
| It's judicial sabotage and finally playing whack-a-mole with these activist judges and reigning them at. | ||
| Now, if President Trump's had five monumental wins about his Article II powers, or what we refer to sometimes as the unitary executive theory, in each different vertical, both as chief executive officer on personnel and money, | ||
| as commander-in-chief, and also as chief magistrate in the chief law enforcement officer, which their heads are still blowing up about President Trump's, like yesterday, the executive order for the investigation telling DOJ to investigate. | ||
|
unidentified
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Why did he – why was Robert – | |
| What caused that in your best estimate? | ||
| Well, I think it's the firestorm that we unleashed, the political firestorm with the Article 3 project and the War Room Posse. | ||
| And look, it was getting picked up by mainstream media, these criticisms, strong criticisms of the chief and Justice Amy Cote Barrett for letting the presidency get sabotaged. | ||
| And they do care about what people say about them in mainstream outlets, and I know that. | ||
| This started six weeks ago when the Chief Justice, John Robertson, Justice Amy Coney Barrett, Professor Amy Coney Barrett, let Judge Ali... | ||
| On the D.C. District Court, this new judge that got jammed through in the lame duck session after Democrats lost the White House, lost the Senate. | ||
| This first Muslim, this first Arab judge gets jammed through on the D.C. District Court. | ||
| One of the first things he does is tells the president of the United States, orders the president to send out checks for two billion dollars in foreign aid before the president can do a national security review to make sure we're not funding Hamas terrorists, for example, | ||
| who are killing Americans, or we're not funding transgender mice research and Durka Durka lands. | ||
| And this got to the Supreme Court and Justice Barrett and the chief justice, shockingly, as Justice Alito pointed out, joined the three liberals and said, oh, this is called Judge Ali called this a temporary restraining order, which is supposed to be temporary, even though | ||
| two billion dollars is going out the door and never coming back. | ||
| Justice Barrett's the smartest civil procedure professor in the land, and those aren't immediately appealable. | ||
| Fortunately, Justice Amy Coney Barrett, the rattled law professor with her head up her behinds, got it out of her behinds in this last week because she said, okay, she joined four conservatives and said, okay, we get it. | ||
| These aren't TROs. | ||
| These are injunctions. | ||
| This money's not coming back. | ||
| These actions are not temporary. | ||
| And she finally got her head out of her mind. | ||
| But that Judge Ali decision unleashed six weeks of judicial chaos, judicial sabotage of the presidency. | ||
| And I think the Chief Justice finally learned his lesson, along with Justice Amy Coney Barrett. | ||
| That's just one of the cases. | ||
| There was also... | ||
| The case where we had two illegal immigrants. | ||
| One gets sent back to El Salvador. | ||
| He's an MS-13 gangbanger, and he tried to pretend like he's being persecuted. | ||
| That's all. | ||
| He's not being persecuted anymore because Biden let all the persecutors from El Salvador into America. | ||
| So I think he's in graver danger in America than he is in El Salvador. | ||
| He got sent back, Obrego Garcia. | ||
| Got set back because the Chief Justice stayed the Fourth Circuit when the Fourth Circuit said he's not going back to El Salvador. | ||
| Sorry, Obrego Garcia, hasta la vista, buddy. | ||
| You're going back to El Salvador. | ||
| And then we had the Bozburg-Trende-Aragua case where Bozburg, I think it was four Saturdays ago, exposed an ongoing national security military operation endangering lives and tried to stop the president from deporting | ||
| Trende-Aragua foreign terrorists along with MS-13 gangbangers. | ||
| The Supreme Court stopped Bozburg. | ||
| The chief justice joined four conservatives. | ||
| Barrett joined her liberal hens again. | ||
| Jurisdiction is a habeas claim in Texas from where the planes took off. | ||
| It's not a D.C. activist judge sabotaging the president. | ||
| The third case, we have the Office of Personnel Management, the Ninth Circuit, said the president couldn't fire 16,000 probationary employees. | ||
| The president can absolutely do that, both under statute and under Article II. | ||
| ...of the Constitution. | ||
| The Ninth Circuit tried to stop him, the Supreme Court, with only two noted dissents, with Justice Jackson and Sonia Sotomayor reversed that and said the president can fire these probationary employees. | ||
| And then we have, number five, we have the NORB. | ||
| And the Merit System Protection Board, President Trump fired two of the commissioners, or several of the commissioners on these commissions. | ||
| The D.C. Circuit tried to stop him and say that you have to reinstate these commissioners. | ||
| The Chief Justice stated that decision. | ||
| So we could have Humphrey's executor, a 1935 Supreme Court decision, egregiously wrong Supreme Court decision, overturned. | ||
| And it shows that the president can fire any executive branch employee he wants. | ||
| Kind of running the table right now. | ||
| What do you foresee as the next big battle coming down the road? | ||
| And then I want to make sure everybody knows how to get to Article 3. But as you sit here today, given these wins, where do you think this is going to go? | ||
| Because every time he does an action, they're still jumping into federal court right away. | ||
| Yeah, I mean, like, for example, even on the Ninth Circuit, even when the Supreme Court and the 7-2 ruling said the president can fire 16,000 probationary employees, they're still going to try to sabotage that with the ombuds court and the Fourth Circuit. | ||
| These radical plaintiffs, these radical attorneys, these radical activist judges are unrelenting. | ||
| They're going to do everything they can to try to sabotage the president because they can't win elections. | ||
| We're playing whack-a-mole. | ||
| But I'll tell you this, at the Article 3 project, when we team up with the War Room Posse, we're not going to let these judicial saboteurs win. | ||
| The president had his first term sabotaged by Russian collusion hoax. | ||
| It's not going to happen again. | ||
| He's going to be the most consequential president in our history, and we're going to make damn sure of it. | ||
| Where do they go? | ||
| By the way, Julie Kelly joins us today about this contempt trap that Boasberg set. | ||
| She's going to have a whole timeline. | ||
| And you'll see how these guys are trying to set up President Trump and his team. | ||
| Mike Davis, you were still calling for the impeachment of Boasberg. | ||
| You still want people carpet bombing by phone and text messages and emails. | ||
| Jim Jordan and the House Judiciary Committee, is that still our play here? | ||
| There are two important actions at the article3project.org. | ||
| Article3project.org. | ||
| Number one, that Judge Ali, the first Muslim, the first Arab federal judge in D.C., sent $2 billion in foreign aid to his Hamas buddies to kill Americans in other places over the president's national security review. | ||
| The Supreme Court let this happen six weeks ago, which unleashed this judicial sabotage. | ||
| Let's take that $2 billion out. | ||
| OF THE FEDERAL JUDICIARY'S $10 BILLION BUDGET. | ||
| IF THEY WANT TO WAST OUR MONEY LIKE THIS, THEN THEY'RE GOING TO PAY A CONSEQUENCE. | ||
| SO THAT'S NUMBER ONE. | ||
| THE SECOND ONE IS WE NEED TO | ||
| D.C. Obama Judge Jeb Boasberg, I've never called for an order to be ignored. | ||
| I've never called for a judge to be impeached. | ||
| We need to do both here. | ||
| This judge is not only clearly wrong as a matter of the law, as the Supreme Court just held, he's also dangerous. | ||
| He exposed an ongoing military operation. | ||
| He put American and allied lives in grave danger. | ||
| He's trying to sabotage the president's ability to conduct foreign affairs, and he's doubling down. | ||
| He thinks he's going to hold— Where should they go one more time, | ||
| Mike? And I know you've got everything laid out. | ||
| Where do they go? | ||
| Article3project.org. | ||
| Article number 3project.org. | ||
| And thank you, Steve. | ||
| Mike also shows you the power of Article 3 and what you've been doing. | ||
| The Supreme Court definitely got a wake-up call. | ||
| They heard, and now they're fully engaged. | ||
| Five big wins for President Trump. | ||
| So thank you so much from the audience, brother. | ||
| Tip of the spear. | ||
| The Viceroy, Mike Davis. | ||
| Thank you, sir. | ||
|
unidentified
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Thank you. | |
| Incredible. Action, action, action. | ||
| Is Raheem up? | ||
| Can we go to Raheem Kassam? | ||
| We don't have Raheem up yet? | ||
| Okay, we're going to try to get Raheem up momentarily. | ||
| Raheem just... | ||
| Got back from Panama, so he's going to have an action report for us. | ||
| Also, Bill Gertz is going to join us. | ||
| Bill Gertz is going to lay out the entire battle plan of the Chinese Communist Party. | ||
| Nobody knows this better than Bill Gertz, as now we're engaged in a, you call it a trade war, but it's much, much, much else. | ||
| It's much, much, much deeper. | ||
| All the way from the Arctic down to Panama, across the vast Pacific, the three island chains, in the capital markets of the world, City of London, Wall Street, Tokyo, Shanghai, Frankfurt, Singapore. | ||
| A 30-front war against the Chinese Communist Party. | ||
| They've been at it for us for years. | ||
| This is one of the reasons, folks, I think gold is kind of on a run. | ||
| It's not for me to tell you to go buy it. | ||
| It's for me to offer you the opportunity to learn about it. | ||
| You're free men and you're free women. | ||
| We offer you the opportunity to enter the dollar empire. | ||
| A whole study group now being used at college level in a finance class because students can get quickly up to speed. | ||
| Also, the text Bannon at 989898 and you get the free guide, the ultimate guide. | ||
| But most importantly, get a relationship with the Philip Patrick and the guys at Birch Gold. | ||
| Physical gold. | ||
| I think now more than ever. | ||
| We told you it was going to be choppy. | ||
| It's going to be choppy. | ||
| President Trump, as Mike Davis says, the most consequential president since, I don't know, let me think about it, Abraham Lincoln. | ||
| We've had two before him in American history. | ||
| That would be General Washington and President Abraham Lincoln. | ||
| Now Donald Trump. | ||
| The world's on fire, but President Trump's there to put out the fires and lay the groundwork for peace and prosperity. | ||
| I can actually start to see the glimmerings of the sunlit uplands long, long, long way off in a torturous path to get there. | ||
| But if we don't quit, get there we shall. | ||
| Short commercial break. | ||
| Back in the warm in just a moment. | ||
|
unidentified
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American me. | |
| I got American power. | ||
| I got American faith. | ||
| In America's heart. | ||
| Here's your host, Stephen K. Vann. | ||
| I got American faith. | ||
| So Birch Gold, and the reason we've done it with Birch Gold is so that you can have a relationship with this team and talk to them about the ownership of physical gold. | ||
| So birchgold.com slash band and you get all the free information. | ||
| And it's, you know, good enough. | ||
| It's being taught now at certain universities in their finance class because we made it to be accessible to people. | ||
| Accessible to you. | ||
| You just heard Mike Davis, the massive... | ||
| ...impact you've had on the judicial side. | ||
| Five Supreme Court wins. | ||
| Count them, five. | ||
| Thirty days ago, we had zero. | ||
| That is because of you. | ||
| Working with Mike Davis, the Article 3 Project. | ||
| And this is why people look at what's happening on the show, who's talking on the show, what the audience is doing about it, because you guys have a massive impact. | ||
| And the legal, remember, the legal vertical was how they were coming after President Trump. | ||
| And there's big questions where the Supreme Court was going to come down on all three of those issues about Article 2 or the unitary executive, however you want to define it. | ||
| But we're winning, and it's going to get tougher. | ||
| You heard Mike Davis. | ||
| You've got to get up on the ramparts. | ||
| This is why we don't let anybody get hung up on their title. | ||
| You've got to get on the ramparts about the two action items he said, but go to Article 3 right now. | ||
| Now get fully up to speed up, particularly the particular. | ||
| I'd love the fact, take the $2 billion out of the federal judiciary, the $10 billion appropriations they get, cut it by two. | ||
| If they're going to, if some judge is going to do that and they're going to back it up, then cut it by two billion. | ||
| Also the impeachment of Bozburg. | ||
| Julie Kelly is going to join us this afternoon. | ||
| She's going through a detailed timeline of the contempt trap. | ||
| I think he's still going to go into the path of contempt trap. | ||
| She's going to walk you through how exactly he set it up to entrap President Trump's team. | ||
| More of that at 5 o'clock today. | ||
| The National Pulse founder and publisher was honored to go with Pete Hegseth down to Panama. | ||
| Pretty explosive. | ||
| We played at the top of the show as part of, this is why we have you and Gertz together today, part of this kind of expanding coverage of this, what you have to say is an economic war against the Chinese Communist Party. | ||
| They've been gauging it against us for 20 years. | ||
| But pretty stunning. | ||
| Do I take it that the Memorandum of Understanding Rahim is where the United States is going to partner with the government of Panama to actually have a military presence and train up so that someone can militarily seize the Panama Canal and make sure the Chinese Communist Party is not involved, sir? | ||
|
unidentified
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Yeah, Steve, thank you for having me. | |
| And I want to say to the entire team around Peter Hegsett, thank you for having us. | ||
| You know, it's a tight press team that they take on board. | ||
| These trips are always very difficult. | ||
| They're navigating lots of extremely precarious things. | ||
| And so, by the way, are the Panamanians who have been pressured for so long now by the Chinese Communist Party, who ironically accused the United States and Pete Hegseth this week of using blackmail, but who have themselves been using blackmail | ||
| and other forms of coercion to try and take over the Panama Canal in recent years. | ||
| There hasn't been much pushback, not least from the previous Biden regime or really any other major nation in the world. | ||
| It's taken this new administration. | ||
| It's taken Donald Trump. | ||
| It's taken Pete Hegseth to put this trip together. | ||
| Remember how quickly this has come together since the inauguration. | ||
| We're not all that far in to this admin yet in terms of pure... | ||
| And, you know, there are certain things you can report and there are certain things you can't report when you're on these trips, things you see in the background, things you hear. | ||
| But one of the things that really stood out to me was how, you know, these guys hit the ground running day one to get the Panamanians to the table. | ||
| You had Rubio go over there a couple months ago. | ||
| Then this is the follow-up trip to say, hey, okay, here's what we're going to do. | ||
| We have these memoranda of understandings. | ||
| And what are they going to do? | ||
| Firstly, U.S. war and auxiliary vehicles going through the Panama Canal first and free. | ||
| First and free is the phrase that kept coming up over the course of the week. | ||
| Then you have this jungle training school, of course, which used to be there, which used to train warfighters up when they were going to Vietnam. | ||
| This training school shut down in 1999 and is now being reopened. | ||
| We actually got to go there, tour the facility, see exactly what the plans were going to be. | ||
| And it's an incredibly... | ||
| It's impressive, but it's also optimistic. | ||
| A lot of work is going to have to go into this, and what is it all about? | ||
| It is about keeping that Panama Canal under Panamanian sovereignty, but US control. | ||
| The Chinese Communist Party cannot use it, cannot seize it, cannot shut it down, cannot dictate terms, not just to Panama, but to any single boat. | ||
|
unidentified
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Nation that wants to use it, which is what the plan has been by the Chinese for so very long. | |
| So a fascinating trip, and I've got to tell you, Peter Hegseth is a freaking machine. | ||
| The number of troop touches he did, you know, going morale boosting, we went on the... | ||
| The chosen, this guided missile cruiser running around all inside of that. | ||
| I mean, this guy has more energy than you could possibly believe. | ||
| And with somebody like that putting their shoulder to the wheel for the MAGA agenda, I think people at home can finally feel that they have a Secretary of Defense that is interested in keeping America safe. | ||
| The warrior ethos. | ||
| Where do we go to National Pulse? | ||
| Where do we get all of your content on this, sir? | ||
|
unidentified
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Yeah, I've got all the stories up at thenationalpulse.com. | |
| We're now on Instagram at The Nat Pulse, at The Nat Pulse on X as well. | ||
| And I will say this. | ||
| You know, these trips aren't cheap. | ||
| As you know, we have to pay full market rates to go on these trips. | ||
| It's actually very expensive, especially for a small outlet like us. | ||
| We're 100% funded by our readers. | ||
| So if you want us on more of these trips, if you want more of the truth, if you want more of the breaking news from on the ground, ladies and gentlemen, thenationalpulse.com forward slash war room. | ||
| Go and sign up. | ||
| Or if you don't want to do a subscription, you go to thenationalpulse.com and just hit the donate button. | ||
| I really appreciate it. | ||
| And it really does. | ||
| Every single cent goes into bringing you the news. | ||
| Amazing, amazing coverage, Rahim. | ||
| Thank you so much. | ||
| Rahim Kassam, the Rahim Kassam in Panama. | ||
| Amazing. Pete Hexet, that's the warrior ethos. | ||
| Somebody went on his first extended trip was Bill Gertz. | ||
| Bill, talk to me about what you saw with Pete. | ||
| And most importantly, the expanding, you've been covering this now for, I don't know, 30 years or longer, the expanding engagement with the economic war and other types of unrestricted warfare the Chinese Communist Party has been waging against the West and particularly | ||
| the United States. | ||
|
unidentified
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Great to be on the show. | |
| This is really an amazing point in history. | ||
| We finally have a president who, after 40 years, is recognizing the threat posed by the Chinese Communist Party. | ||
| This is not a... | ||
| Theoretical threat. | ||
| This is a real and growing threat. | ||
| And Trump, who is an expert at business and economics, is really approaching this from that standpoint. | ||
| So we're seeing the trade war really devolve into, instead of the U.S. versus the world, it's really the U.S. versus China. | ||
| I was fortunate to be able to travel recently with Defense Secretary Hegseth. | ||
| We traveled to the Indo-Pacific Command, whose commander, Yes, we are. | ||
| counter the largest military buildup and the most rapid military buildup since World War II. So, | ||
| If we don't want to go kinetic, and they may force our hand, but if we don't want to go kinetic, the other tools in the toolbox for President Trump, we've never had a president that's engaged and he's thrown down. | ||
| First off, I don't believe that she's going to kowtow and pick up the phone and say, President Trump, I want to come to D.C. and have a meeting and work out this trade deal. | ||
| Do you think that that is the possibilities that she will do, sir? | ||
|
unidentified
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I think the president is beginning to understand That he's not going to be able to work his deal-making magic. | |
| With the Chinese Communist Party and its supreme leader, Xi Jinping. | ||
| I think he's coming to that realization. | ||
| Up until now, it's been, look, I can talk to this guy. | ||
| I can make friends with him. | ||
| He's rational. | ||
| He can make a deal. | ||
| No, the Chinese Communist Party has a plan, a very specific strategic plan to take over the world. | ||
| I was fortunate enough to have a few minutes privately with Hegseth on his plane coming back from Japan. | ||
| I made that case to him. | ||
| I said the Chinese are going to take over the world unless the US stops them. | ||
| And it's going to require all of our efforts, all of our resources, all of our energy to be able to do that. | ||
| And again, they are not a normal nation. | ||
| They are motivated by Marxism-Leninism, what they call Marxism-Leninism with Chinese characteristics. | ||
| And the main impediment to China's drive under Xi to take over the world is the United States. | ||
| And so he's doing everything he can to weaken us. | ||
| We've seen that through fentanyl, which is killing tens of thousands of Americans. | ||
| We've seen it through the massive cyber attacks. | ||
| We're seeing it through increased military activities around. | ||
| So, the challenge is on. | ||
| I think the economic part we're finally realizing is a key to really challenging the Chinese world takeover. | ||
| But we also have to bolster our other forms of power, including both military, diplomatic, intelligence, and other. | ||
| Bill, can you hang on for a second? | ||
| I want to hold you through the break, and E.J. and Tony is also going to be with us. | ||
| Now more than ever, this is one of the reasons we did the end of the dollar empire, one of the tools that the Chinese Communist Party is trying to use. | ||
| Now I would argue I think we got them potentially their weakest financially. | ||
| They're going to be caught out. | ||
| They tried to shift to a consumer. | ||
| An eternal market that hasn't happened. | ||
| One is Lao Bai Jing understands he has no safety net, particularly as they get older. | ||
| They put every penny away. | ||
| It's not really a consumer-driven economy. | ||
| Birch gold, now more than ever, the end of the dollar empire. | ||
| De-dollarization, because when you talk BRICS, the black hand and back of BRICS is the Chinese Communist Party. | ||
| That's why they did the oil deals with the Persians. | ||
| They tried to do the oil deals with the Saudis and do it, make it convertible into Yuan, their currency, with some sort of gold backup, right? | ||
| They're trying to get the world off the dollar. | ||
| That would be catastrophic for us right now if that happened. | ||
| Maybe later, not so much, but now. | ||
| End of the dollar empire. | ||
| Birchgold.com slash Ben and get it, read it. | ||
| Maybe I'll do a seminar. | ||
| Take some questions from the audience. | ||
| How about that? | ||
| Short break. | ||
| The Bill Gertz and EJ and Tony next. | ||
|
unidentified
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The Bill Gertz and EJ. | |
| ...points out, and folks have to remember, and this is back to Bill's point about President Trump's a master negotiator. | ||
| I'm not so sure there's a lot to negotiate, at least right now. | ||
| If this thing, and this is why we have to avoid this going kinetic. | ||
| If you go back to look at the history of Korea, look at the Korean War. | ||
| Wave after wave after wave after wave of Chinese soldiers were sent to the death in the most brutal way possible, with sticks and not even weapons, or weapons that had no bullets. | ||
| And the Marines that fought there would tell you they've never seen anything like it. | ||
| If this war goes kinetic, Mao Zedong, their philosophy is that the Chinese people as people, as individuals, are totally expendable. | ||
| This would be – if we went kinetic in a war with the Chinese right now, it would be catastrophic on both sides because the weapon systems of the US and the valor and courage of our sailors, particularly the 7th Fleet. | ||
| Would give as good as they got. | ||
| But you look at the weapons that are lined up and the intensity of what happened in the Straits of Taiwan or the South China Sea. | ||
| And as a young man, I patrolled that for about a year. | ||
| It would be a very intense shooting gallery. | ||
| Bill Gertz, how do you see this thing evolving? | ||
| Your recommendation to the president is, hey, use all your negotiating skills, but don't think you've got a party on the other side that can even have the room to negotiate right now, correct? | ||
|
unidentified
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Correct. And even though the Chinese economy is facing problems, they have a banking problem, big real estate bubble, also a youth unemployment, you have to understand this is a tightly controlled system. | |
| I call it high-tech totalitarianism. | ||
| One of the key features that came out recently was a Director of National Intelligence report on the hidden wealth and corruption of Chinese leaders, including Xi Jinping. | ||
| This is a really important, this is basically a A shot across the bow of the CCP that says, look, we know where your hidden wealth is. | ||
| We can expose this to the Chinese people and show the hypocrisy of the Chinese Communist Party, which claims to be a Marxist-Leninist group working to end capitalism. | ||
| and here all of this capital in terms of billions of dollars of senior CCP leaders is being parked abroad. | ||
| There are just, | ||
| They're a new dynasty. | ||
| Imperial power. | ||
| That's the five factions. | ||
| The fight over the throne are among the wealthiest in the world. | ||
| Bill, you're the single best. | ||
| You've been doing this forever. | ||
| I'm glad you went with Pete on that trip and I'm glad you got a few minutes with Pete to walk through the grand strategy here. | ||
| Where do people go? | ||
| Particularly your book, Deceiving the Sky. | ||
| They came in a couple of years ago. | ||
| One of the most powerful books I've ever read about the Chinese Communist Party and their grand strategy. | ||
| Where do people get that and where do they get all your writing, sir? | ||
|
unidentified
|
Yeah, it's gertsfile.com is my website. | |
| You can find my columns, my stories. | ||
| I also have a podcast called Victory Over Communism, which is key to defeating Chinese Communist ideology as well as American Marxism. | ||
| Bill Gertz, you're a national institution. | ||
| Thank you so much, sir. | ||
| Appreciate you. | ||
|
unidentified
|
Thank you. | |
| Gertz has been doing this, I don't know, 30 years, 35 years, knows it backwards and forwards. | ||
| This is a tough one. | ||
| For President Trump, who's a master negotiator, and really, I think, said this perfectly, that it's the Chinese Communist Party versus the United States of America, the two different systems. | ||
| And the Chinese Communist Party in May of 2019 had the ability to basically become integrated into the world's economy in a way that would be productive, not destructive. | ||
| They didn't want to take it. | ||
| They wanted their own deal. | ||
| They wanted to run it their own way. | ||
| That should tell you everything you need to know right now. | ||
| And by the way, the nations of the world, particularly the ones in East Asia, the Koreas, which they're having a coup in South Korea right now. | ||
| That's Chinese Communist Party inspired. | ||
| In South Korea, in Japan, in Taiwan, in the Philippines, these folks all know what the problem is. | ||
| In Vietnam, in Cambodia, in Southeast Asia. | ||
| Remember, she just told them, hey, don't go to Washington. | ||
| I'm coming there. | ||
| That is a shot across the bow of those folks down there. | ||
| And there are storm clouds on the horizon in this entire situation. | ||
| E.J. and Tony, great news. | ||
| You've been predicting this was going to happen. | ||
| Tell us today. | ||
| And by the way, we just passed. | ||
| The budget resolution in the House. | ||
| And I'm going to tell you, there might have been some games played at the end. | ||
| It was 216 to 214. | ||
| Two Republicans had not voted, and they closed the vote. | ||
| We'll get some details about that later this afternoon. | ||
| But my understanding is they closed the vote with two Republicans outstanding. | ||
| I'm not so sure those votes were yays. | ||
| So this budget resolution and reconciliation, you can't tell people. | ||
| Gimmicks are not going to hack it. | ||
| First off, the bond market's just not going to sit there. | ||
| They're not going to give you a hat tip on gimmicks. | ||
| The days of gimmicks are over. | ||
| And this reconciliation thing feels... | ||
| I may be wrong. | ||
| I just need to see more information. | ||
| But it feels a little gimmicky. | ||
| E.J. and Tony, great news today and information. | ||
| What happened, sir? | ||
| Well, Steve, thanks for having me again. | ||
| We got the latest numbers on inflation, and it turns out last month, prices, not only did they slow in terms of how fast they were going up, they actually, on average, declined, if you can believe it. | ||
| Now, it wasn't a huge decline. | ||
| It was a tenth of a percentage point. | ||
| But still, this is the biggest drop we've seen in prices since the last time Trump was president. | ||
| So the fact that not only has inflation slowed down, but we're actually making some progress in terms of getting prices down, That's huge. | ||
| And if we look at you over time, we see that this is the start of a really, really great trend because Let's look at the period of economic expansion that started after the Great Recession. | ||
| So that's about the middle of 2009. | ||
| And if we exclude all the disruptions from COVID, that basically goes until the very beginning of 2021 when Biden becomes president. | ||
| During that time, you had incredibly mild inflation. | ||
| On average, it was only 1.8%. | ||
| As soon as Biden gets in and he unleashes the wave of inflation, what happens? | ||
| The average annual inflation rate We're already down to an average annual inflation rate of 1%. | ||
| And it's only been a couple of months. | ||
| So this is really welcome news. | ||
| His policies are actually having an even bigger impact now than they did during his first term, and we're not even done implementing that agenda. | ||
| So again, a lot of really, really great news. | ||
| on the inflation front that's not to say all prices are going down some prices are still going up but energy prices for example steve dropped so much last month that it helped pull the overall index down and that's really good for the future because those lower energy prices today are going to trickle down into all kinds of other prices throughout the economy diesel fuel is a great example because it's what goes into trucks and all the products that you get at the store get to that store So as you bring down transportation costs, | ||
| for example, you're going to bring down costs throughout the economy. | ||
| So again, really, really great news on the inflation front today. | ||
| It's welcomed relief for the American people. | ||
| Still a very long way to go, don't get me wrong. | ||
| But again, the fact that we're making this much progress this quickly, it's just absolutely astounding. | ||
| Can you put that chart back up? | ||
| I want to go back to this chart when you say this is truly remarkable. | ||
| So the inflation rate for the Trump years was – before that, but the Trump years of 17 to 21 was 1.8 percent. | ||
| Then Biden in the first year and a half with all that massive Keynesian stimulus we didn't need. | ||
| I know you fought against it, Peter Navarro, myself. | ||
| Every day we said inflation was going to explode. | ||
| 8.6 percent for Biden for the first year and a half and then steadily at 3.1 percent thereafter. | ||
| Now with President Trump in the first 100 days or 80 days, he's averaging 1 percent. | ||
| that they cry big alligator tears, are paying so much more. | ||
| How can your chart be so radically different than what I'm hearing on MSNBC, sir? | ||
| Well, Steve, the shorter answer is because the people on MSNBC aren't analysts. | ||
| They're clowns, quite frankly. | ||
| I mean, they talk about opposite things and say they're going to have the same effect. | ||
| Like when they say Trump cutting taxes, that's going to cause inflation. | ||
| But then they talk about tariffs, which are a tax increase. | ||
| They say, well, that's going to cause inflation. | ||
| I'm sorry, they can't both be true. | ||
| So you're telling me tax cuts cause inflation, but also tax increases cause inflation? | ||
| pick a lane for crying out loud. | ||
| These folks will look at absolutely anything they want and then just still come to the same conclusion that they want, because for them, it's not about facts. | ||
| For them, it's just about orange man bad. | ||
| And so anything Trump touches will just go to hell in a handbasket, right? | ||
| And whatever the president does, it's going to have a negative effect. | ||
| It doesn't matter what his actual policies are. | ||
| They're just so blinded by their hatred of him that they can't be rational and they can't actually analyze | ||
| And look, I will tell you when the president does something I think is right. | ||
| I will tell you when I think the president is in the wrong and maybe he needs to course correct, whatever the case may be. | ||
| This is not about blind opposition or blind loyalty to a person. | ||
| It is about policy, not politics. | ||
| And that's what I think the folks at MSNBC just can't get their heads around because, again, they're so blinded by their own ideology. | ||
| The reason we're down to a 1% run rate under President Trump, is that principally because he's focused on full-spectrum energy dominance? | ||
| Is it commodities prices? | ||
| What are the drivers here for getting the inflation lower, demonstrably lower, sir? | ||
| There's two important points here, Steve. | ||
| One is the fact that we are putting the brakes on the growth in government spending. | ||
| Now, is government spending still way too big? | ||
| Absolutely. But we're slowing down the rate of increase. | ||
| So that's really important because as the government spends less, they're borrowing less. | ||
| And as they borrow less, that is helping put downward pressure on the loanable funds market. | ||
| So you're seeing not only interest rates come down, but also inflation rates come down. | ||
| As the government is borrowing less, the banks are creating less money to fuel that borrowing. | ||
| So that's a very, very welcome sign. | ||
| We're slowing the growth there. | ||
| But where are we increasing growth? | ||
| We're increasing growth in the productive private sector. | ||
| We're seeing this especially in the jobs numbers. | ||
| even as the government loses jobs. | ||
| For example, we're seeing more job growth again on the productive private side of the economy. | ||
| And as the economy gets bigger, it can absorb more and more liquidity, more and more cash without causing inflation. | ||
| This is what, you know, guys like Steve Moore, Larry Kudlow, Art Lafter, Steve Forbes, they're always talking about supply side growth. | ||
| If you grow the economy faster than you grow the money supply, then that ratio goes down, not up, which means prices go down, not up. | ||
| Again, that's a really welcomed belief for the American consumer. | ||
| And one of the best ways to do that is by increasing energy production and decreasing the cost. | ||
| of energy production. | ||
| That's what the president is doing. | ||
| And so much of energy infrastructure, Steve, because it's so big and it takes so long to create and it's so heavy in terms of maintenance, these things are very forward-looking. | ||
| In other words, markets need to know that in the future, they're going to have an administration that has their back. | ||
| They're going to have an administration that continues supporting energy production. | ||
| Under Biden, we had exactly the opposite. | ||
| We had mothballing of refineries, for example. | ||
| We had critical infrastructure maintenance that was simply just being deferred. | ||
| These energy companies weren't doing it because they weren't sure if these assets were actually going to be productive long enough. | ||
| in the right direction. | ||
| EJ, hang on for one second. | ||
| The reconciliation just passed by two votes, and even then it was a little dicey, and people have voted for it. | ||
| A lot of them were not happy. | ||
| I just want to ask some questions about this, because you're talking about government spending. | ||
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| Short commercial break. | ||
| EJ and Tony on the other side. | ||
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| The reason it's the most sought-after promo code is because it gets access to you, this audience, as Mike Davis said. | ||
| Incredibly powerful. | ||
| What you've done on the judicial side and the courts has been nothing short of amazing. | ||
| President Trump now has five victories at the Supreme Court because you, working with Mike Davis and Article 3 Project, gave everybody a wake-up call. | ||
| We're just not going to sit here. | ||
| We're just not going to sit here. | ||
| Let's go to E.J. and Tony. | ||
| E.J., there was a kind of funky vote that just took place, 216 to 214. | ||
| A couple of Republicans, I understand, hadn't voted yet, my understanding, and didn't get a chance to vote on this reconciliation. | ||
| A lot of promises made this morning by Thune and Johnson, although not codified. | ||
| Is it still your belief that government spending and massive deficits is still the main driver of inflation? | ||
| But 100%, Steve, that's exactly right. | ||
| And it's one of the key reasons why whatever we do here with reconciliation, we have to be sure that we are not blowing out the deficit yet again, that we are not throwing even more money into the debt yet again. | ||
| That's what we did time after time under Biden. | ||
| And look where it got us. | ||
| People, unfortunately, got into this mindset of thinking the debt doesn't matter, of thinking that the federal government can just keep borrowing forever. | ||
| And as long as Treasury markets don't seize up, we're all going to be fine. | ||
| I'm sorry, but the last four years proved yet again, like it had before, that that's not the case. | ||
| If you allow the government to keep spending, borrowing and printing money at these levels, you are going to get the kind of inflation that we've had the last four years. | ||
| And that is something, frankly, that would, I think, sink | ||
| And so I'll reiterate yet again, Steve, we have to make sure with this reconciliation package that we are actually reducing government. | ||
| We are reducing taxes, but we're also reducing spending. | ||
| The status quo is not going to cut it anymore. | ||
| Look, we can't count on any help from the Federal Reserve. | ||
| The Fed and the Treasury are supposed to be working hand in glove. | ||
| Mr. Powell should be working with Mr. Besson, not fighting against him. | ||
| Unfortunately, again, we can't count on that normal working relationship, unfortunately. | ||
| Powell is the same guy who was actively working against Trump in his first term. | ||
| Big time. | ||
| A couple of lessons today. | ||
| The bond market is going to get a vote. | ||
| Just understand that. | ||
| The bond market is going to get a vote. | ||
| Number two, we are engaged in a conflict. | ||
| We finally have engaged in a conflict. | ||
| The Chinese Communist Party has been running against us for decade after decade after decade. | ||
| And last but not least, your agency, your individual human agency, is really the deciding factor here because you can take President Trump's message and actually we can weaponize it and boom, put it right on target and things change. | ||
| This we know. | ||
| I understand the heart of this, EJ, and I'm a huge believer in this. | ||
| In fact, one of the reasons we back Scott Besson. | ||
| For so long, he came as a contributor years ago, and really, the guy is amazing, is that he was the biggest proponent. | ||
| This is our last shot. | ||
| To have a supply-side solution to this. | ||
| And that means extension of the tax cuts of President Trump, at least below the upper brackets. | ||
| There's discussion. | ||
| We've been pushing very hard that the upper brackets wouldn't get the extension. | ||
| But even that, with additions of Social Security and wages, this is a supply-side tax cut that will generate growth. | ||
| My concern is the gimmicks that are being used on the spending. | ||
| Do you agree, EJ, that particularly with the bond marketplace and this, that we're beyond the gimmicks phase? | ||
| It behooves President Trump... | ||
| And the House and the Senate to get more data out there possible, to get no more smoking mirrors on 10-year cuts, everything like that, but have an adult conversation so the bond market knows that we're serious about the supply-side cut and also stopping the crowding out. | ||
| I mean, you can't have a supply-side cut and a massive Keynesian stimulus at the same time. | ||
| They're going to rule each other out, right? | ||
| It doesn't make sense. | ||
| Do you agree with that? | ||
| Steve, I think that assessment is absolutely spot on. | ||
| The bond market took a real toweling under Biden. | ||
| We had during Biden the worst three and a half year run for the bond market in over a century. | ||
| That's not an exaggeration. | ||
| That's how bad of a time we had because we went from rates, very, very low rates of inflation and interest rates to having both of them spike. | ||
| And so at this point, the bond market has said enough is enough. | ||
| We're not going through that again. | ||
| And they are building in a lot of safety and a lot of security into these yields. | ||
| In other words, if you want me as a bond investor, let's say, if you want me to lend money to the Treasury Corporation, doesn't matter, whatever it is. | ||
| But if you want to separate me from my money for a period of time, you better believe I'm going to build enough yield into that contract to ensure that I'm going to be able to beat out the next potential wave of inflation. | ||
| And so until we can restore confidence to that bond market, yields are going to stay where they are. | ||
| I know a lot of people were cheering the drop in yields that came as the market was tanking. | ||
| But guess what? | ||
| Yields are now back up above where they were on Liberation Day. | ||
| So this idea that we somehow had a kind of grand master plan, I'm sorry, but it's just not the case. | ||
| The bond market is responding to the latest signals. | ||
| Before, it looked like we were going to have a pretty bad recession. | ||
| And now, even if we don't have that recession, it looks like there's still some tough times ahead if we don't get these trade deals hammered out and if we don't get government spending down. | ||
| Those are things that have to happen. | ||
| And I would say have to happen in the next 90 days. | ||
| You're putting up great stuff all the time, sir. | ||
| Best place to find me is going to be on X, and the handle there is at real EJ and Tony. | ||
| Sir, thank you so much. | ||
| Gotta use you before you go into Treasury. | ||
| E.J. and Tony, the great... | ||
| Thank you, brother. | ||
| Philip Patrick, tonight we're going to talk about currency devaluations, currency maybe more, maybe more, currency wars, all of it. | ||
| Julie Kelly also. | ||
| Charlie Kirk is next. | ||
| Poso, Gruber, bowling, and then back in the war room at 5 o'clock. |
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