May 2, 2025 - Bannon's War Room
48:52
Participants
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| Speaker | Time | Text |
|---|---|---|
| Very important, but is this going to include Liberation Day movement? | ||
| And here we go! | ||
| The job, job, jobs report for April hitting the wires. | ||
| Nonfarm payrolls, a greater 177,000. | ||
| We're expecting, as Joe pointed out, 133,000. | ||
| 177,000 would be the second best of the year outside of what's in the rearview mirror, which was 228,000. | ||
| That becomes 185,000 because... | ||
| The two-month adjustment is minus 58,000. | ||
| Now, let's go to you three. | ||
| The unemployment rate remains at 4.2%. | ||
| Let's look at the average hourly earnings on a month-over-month basis. | ||
| Expected up three-tenths comes in light. | ||
| Up two-tenths of a percent. | ||
| Equally in February, to find a smaller number, you have to go all the way back to August of 23. Now, let's look at earnings on a year-over-year basis. | ||
| Also one-tenth light, 3.8. | ||
| We're looking for 3.9. | ||
| 3.8 equals the rearview mirror. | ||
| And if we look at the work week, the hours worked. | ||
| All employees, 34.3. | ||
| That's good news. | ||
| We upticked it one tick based on what we were expecting, which was 34.2. | ||
| But the revision, I was looking at the rearview mirror at 34.2 where we gained a tenth on this reading, but last month it was revised to 34.3. | ||
| And, you know, we've had a lot of 34.3s in 24. To find a higher work week, you're going back to January of 23 when it jumped up to 34.6. | ||
| Now, let's look at the U6. | ||
| This, excuse me, labor force participation, right? | ||
| This is very key, and it kicked up again. | ||
| This is really good news. | ||
| 62.6, a tenth better than both windshield and rearview mirrors. | ||
| 62.6 would equal the best read of the year to find a higher read during November of last year. | ||
| And, I'm sorry, September. | ||
| Let's make that separate last year. | ||
| Finally, drumroll please, Joe and the gang, U6, or the underemployment rate, comes in at 7.8. | ||
| That is one-tenth lighter than 7.9 in the rearview mirror. | ||
| So that also is indeed good news. | ||
| You can see the market. | ||
| Its yields are going up, Joe. | ||
| Selling treasuries is basically a verification that the report's a little stronger than expected. | ||
| And the pre-opening equities seem to like the trade as well, moving higher. | ||
| Just to point out, we broke some streaks of lower closing yields yesterday in both 2s and 10s. | ||
| Back to you. | ||
|
unidentified
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And I think it's important to look at them carefully because I think we're starting to sort of get a little hyperbolic saying we're gonna have a depression. | |
| As you guys point out, we're gonna end up probably with maybe not a recession, but certainly slower growth than we could otherwise have, in part because the economy is so strong going in. | ||
| So while it isn't good, I think we're starting to see that this might not be, you know, horrible, but just not all it could be. | ||
| Look, it's good news. | ||
| It's impossible to say it's not good news. | ||
| The real question is what comes next and what are we really going to see next month and the month after? | ||
| I think that's really the fundamental question. | ||
| It's not to dismiss this number. | ||
| It's important to see that actually things have held up perhaps better than some people had expected. | ||
| But the question is, now that this tariff piece is starting to really start to move through the economy, what's that going to look like? | ||
| To some degree, alleviates some of the pressure on Jay Powell and the Federal Reserve, despite the president saying over and over again that Jay Powell should have been lowering interest rates because the economy needs the juice. | ||
| This would suggest actually that things are holding up. | ||
| By the way, I should mention President Trump just out on Truth Social within the last couple of minutes, again saying, look at all of these numbers and asking the Fed for lower interest rates. | ||
| One thing that's worth noting, though, is you look at bonds, for example. | ||
| Treasuries have come down. | ||
| Gas has come down. | ||
| Those are either indicators that people expect a recession is coming and that the reason why gas prices are down is because we have a potential demand problem, or something else is going on. | ||
| So we're going to have to see all that play out again. | ||
| I think that's still a month or two away before we can really take a true measure of all this. | ||
| You know what? | ||
| I missed something. | ||
| Joe, I missed when there was certainty and everybody knew where interest rates were going. | ||
| How did I miss that chapter, actually? | ||
| I find this hysterical. | ||
| I just did a big Wells Fargo event, and all these big institutions were, of course, talking about, you know, interest rates are different than equities. | ||
| We're always a little nervous to, you know, put our face on where interest rates are going to be. | ||
| Now, all of a sudden, we inject this tariff uncertainty, and pre-tariff uncertainty, everybody knew everything about markets. | ||
| I find it so fascinating. | ||
| The UK market's been up, what, 14 days in a row. | ||
| Our stock markets have been green a lot lately. | ||
| And yet, that's all we do is continue to talk about how everything green is turning brown, how we've gone from spring to fall. | ||
| The key in the conversation so far is man-made. | ||
| Man-made. | ||
| This is not an exogenous shock. | ||
| Can't treat it that way. | ||
| And how it all turns out, no matter if it was a good thing, a bad thing, a mistake, I don't care about that. | ||
| I'm a market guy, and the markets are looking past the rhetoric, and the fact that it's man-made means it's going to end differently, and it's very difficult to model. | ||
| This is the primal scream of a dying regime. | ||
|
unidentified
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Pray for our enemies, because we're going medieval on these people. | |
| I got a free shot at all these networks lying about the people. | ||
| The people have had a belly full of it. | ||
| I know you don't like hearing that. | ||
| I know you've tried to do everything in the world to stop that, but you're not going to stop it. | ||
| It's going to happen. | ||
| And where do people like that go to share the big line? | ||
|
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. Mann. | ||
| It's Friday, 2 May, in the year of our Lord, 2025. | ||
| What a week. | ||
| Another epic week. | ||
| And, of course, the engine room informs me that the business media has an antibody that they cannot accept. | ||
| Epic, great news on the face of it, even drilling down below it. | ||
| Rick Santelli there. | ||
| The great Rick Santelli laying out kind of a blowout jobs number. | ||
| Remember Liberation Day two weeks ago? | ||
| Every screaming headline, it's the worst stock market since the Great Depression, since Black Thursday. | ||
| It's the end of the world. | ||
| The world is ending. | ||
| Remember all those pundits? | ||
| These are the business people, not the political people with hair on fire. | ||
| This is the business, especially the folks that have fiduciary responsibility and kind of judicious and discernment. | ||
| Attack, attack, attack on everything Trump and sound like little children running around. | ||
| Oh my gosh, we don't have enough toys. | ||
|
unidentified
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The toys, there's not enough toys. | |
| The immaturity and the lack of seriousness of our elites is shocking. | ||
| And right there, that is called a great print. | ||
| Okay? | ||
| Even the negative print the other day on GDP, when you went one level down below the numbers, it's actually fairly strong. | ||
| President Trump is set in motion the most fundamental reorganization of the world's commercial relationships and patterns as codified by trade deals with non-terrorists, bearers, terrorists, everything, all this complexity. | ||
| But at fundamental, it's a basic reset for the re-industrialization of the greatest country on earth. | ||
| That would be the United States of America and putting America first and putting American citizens first. | ||
| And right there, of course, Andrew Ross Sorkin of the New York Times, hey, you know, Trump just put on True Social, gasoline below two bucks. | ||
| Folks, you're rolling up to Memorial Day and gasoline's going to be under two bucks. | ||
| How is that going for helping people in their wallets and with the credit card debt and all the problems they got? | ||
| How is that? | ||
|
unidentified
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How's that about helping them? | |
| Across the board, just fantastic news tonight. | ||
| Great news of the United Kingdom last night. | ||
| The Reform Party has essentially replaced the Tory party, or in the process of now actually replacing it. | ||
| It blew out local elections for Nigel Farage and the team. | ||
| And Nigel is traveling around the countryside in England in this kind of aftermath. | ||
| We're going to try to get Nigel up this afternoon on the afternoon show. | ||
| I want to go to one of the FCC... | ||
| Thank you. | ||
| Sir, you wrote a great piece with Gavin Wax up in The Daily Caller about the reindustrialization of America. | ||
| Can you walk us through your piece in detail? | ||
| Absolutely. Delighted to have a chance to talk about it. | ||
| There's probably no bigger issue in the United States today. | ||
| So, um, so in | ||
| So industrialization, you know, that's a step forward economically. | ||
| Countries that aren't industrialized, you know, we consider those sort of backward countries that need to develop. | ||
| The United States is in an interesting position there because a lot of the key technologies, in some cases, in some sectors, all of the key technologies that create the modern world, that really create the modern life that we live, originated in the United States. | ||
| And yet, increasingly, we find ourselves unable to manufacture them. | ||
| This is, I think... | ||
| This is an overdetermined result. | ||
| There were a lot of factors playing into this. | ||
| But at the end of the day, I think Americans look around and say, you know, they told us it doesn't make sense to make things here anymore. | ||
| And they're just struggling to comprehend what that means. | ||
| Does that mean that there's a problem with Americans? | ||
| That they're somehow just not as good? | ||
| Does it mean that there are just better jobs on offer all over the place? | ||
| That argument was a little bit more plausible the first time I heard it, around 91, 92. We've had more than 30 years of experience. | ||
| Showing us that very often when the industrial jobs went away, what replaced them were not superior service sector jobs. | ||
| They were gig economy jobs. | ||
| They were part-time security guard jobs. | ||
| And I think there are a lot of Americans who want to work and want to produce and want to contribute to our common prosperity and are just feeling locked out. | ||
| That's the social side. | ||
| On the technical side... | ||
| On the technical side, it's also important to reset on China. | ||
| You can't talk about manufacturing without talking about China because China is such a huge presence in export manufacturing. | ||
| In some cases, they're the whole game. | ||
| And what we're seeing here is the image of China, the old image of Made in China, was cheap toys, trinkets, low-quality products that didn't have a buyer on the world market unless it was just on the basis of cheap labor. | ||
| But China is no longer a cheap labor jurisdiction, or rather, it's a complex mix. | ||
| You've got people who are definitely doing the cheap labor stuff. | ||
| China still has hundreds of millions of people that it wants to bring into an industrial economy. | ||
| And if you're a subsistence farmer, then moving up to sewing in a sweatshop is definitely a step up. | ||
| It was when Americans chose to do that in the early 20th century, and it is for poor people in China today. | ||
| Not just manufacturing, but also logistics, the inputs for R&D. | ||
| The truth is that the synthesis between robotics, AI, and advanced wireless networks, particularly 5G, is happening in China in a way that it's not yet happening here in the United States. | ||
| If we don't gain some ability to act in this space, then every other country in the world that wants to modernize is going to modernize on Chinese technology, sometimes with full awareness that this means that everything is going back to Beijing. | ||
| Because if they're the only game in town and we're not on the board, then everyone else who has responsibilities for their own economic development and national destiny, they're going to be forced to choose with their eyes open. | ||
| Nathan, and by the way, I'd like to hold you through the break. | ||
| I know you're packed today, one of the commissioners over the FCC, President Trump's appointees. | ||
| But first, before we go to break, FCC, communications, intellectual property. | ||
| I keep talking to the folks here about it's not simply $37 trillion in debt. | ||
| By the way, President Trump put out the budget for FY26. | ||
| I'm going to get to that in a little bit. | ||
| And a lot of good news there. | ||
| You guys are going to like what you hear. | ||
| Not perfect, but hey, it's not a perfect world, but directionally it's really strong. | ||
| Intellectual property. | ||
| The stealing. | ||
| I'll tell you what, hang on. | ||
| I'm going to ask you this and get to it after the break. | ||
| We have $37 trillion in debt. | ||
| We're adding a trillion dollars, I don't know, every 100 days or so, or at least before President Trump got here. | ||
| We have a $25 trillion trade deficit, $18 trillion. | ||
| That's specifically tied to China since they came on board through the World Trade Organization and most favored nation. | ||
| And we have about a $25 trillion deficit as far as intellectual property. | ||
| They've either stolen or forced from American companies in these joint ventures. | ||
| That intellectual property is the backbone of how China has ripped off the American people. | ||
| Nathan Simonton is with us from the FCC. | ||
| We're going to have Jim Rickards to join us. | ||
| A lot of geopolitics, capital markets, a blowout number today in President Trump's economy. | ||
| Wall Street is at least up. | ||
| Things are going good there. | ||
| Of course, long faces. | ||
| Andrew Ross Sorkin, the New York Times, Financial Times, the London Wall Street Journal, a cross-eyed. | ||
| All their predictions, guess what? | ||
| Not wrong, dead wrong, as usual. | ||
| Just stick here in the war room. | ||
| We'll talk to you about capital markets, the global economy, how it ties back here to the United States of America. | ||
| We have a new... | ||
| Birchgold.com. | ||
| The Rio Reset on July 6th in Rio de Janeiro. | ||
| We're going to have a full team there. | ||
| The BRICS nations come together to accelerate the de-dollarization of the world's economy. | ||
| This is the Chinese Communist Party's number one tool, the Rio Reset. | ||
| The seventh free installment in the end of the dollar empire. | ||
| Now four years in the making. | ||
| Check it out. | ||
| Birchgold.com slash Ben and talk to Philip Packington. | ||
| Short commercial break. | ||
| Nathan Simonton on the other side. | ||
|
unidentified
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Here's your host, Stephen K. Van. | |
| Nathan Simington's our guest. | ||
| Blowout number on Wall Street today about the economic numbers coming out from President Trump. | ||
| President Trump's put his budget up just as a headline for FYF fiscal year 26. It's going to go down. | ||
| They're cutting the budget $160 billion out of... | ||
| This is discretionary. | ||
| Remember, discretionary is essentially $15, $17, $18. | ||
| President Trump's getting down to, I think, $17, $160 billion cut, all coming from non-defense. | ||
| We'll get into all of that. | ||
| They haven't put out the revenue number yet, but at least it's a start. | ||
| It's a start. | ||
| You've seen a cut. | ||
| You're going to unmask everybody about how real people are in this. | ||
| Nathan, why did President Donald John Trump select you to be a commissioner and one of the most important? | ||
| Regulatory apparatuses we have, the FCC, sir? | ||
| Well, you know, I know they looked at a lot of people before me. | ||
| There is a need to get someone appointed in the fall of 2020. | ||
| And, you know, the press came out and said, we know everyone in telecom. | ||
| We don't know this guy. | ||
| I don't think I would have been on any insider shortlist of the top 1,000 people, so it needs some explaining. | ||
| When the White House called me in as part of the general search for candidates, I didn't come from the telecom policy world. | ||
| I came from the bond finance side and futures market side of telecom finance, and I came in with an economic thesis. | ||
| I was saying, you know, we need to understand that there are effects on the cellulophone industry and therefore second-order effects many places, including industrial. | ||
| Industrialization, by the way. | ||
| We can get into that another time. | ||
| But there are second-order effects from the way that these devices are financed and sold to clients, and it winds up being a subsidy to the manufacturers. | ||
| And I think that was such an unusual thing to say, and so far from typical talking points, that I got more and more interest. | ||
| So I talked through that. | ||
| I talked through some free speech stuff. | ||
| I knew very well the fellow who had written the president's social media petition to the FCC because he was my boss. | ||
| So, you know, with one thing or another, there were speech issues, there were finance issues, there was, I guess, a willingness to do back office, get into details, and address the tech side. | ||
| And then, you know, I immediately wound up in minority. | ||
| So really, I turned my little team at the FCC into a research unit on a number of these tech integration and future developmental pathway routes. | ||
| So, you know, I had to roll with the punches when the president didn't take office for a second term in 2021. | ||
| The whole time I've been thinking, what would it look like to tee up for success with a return to power in 2025? | ||
| And now I think we're finally ready to address some of those big questions that were left hanging last time. | ||
| So walk us through that, the big questions and how you guys are prepared for this and what you're going to do, because this is absolutely, and I want everybody, if Grace and Moe can push out the daily collar piece on the reindustrialization written and co-authored by the great Gavin Wax, what are those | ||
| issues and what do you see the issues before us today? | ||
| You know, I love Gavin. | ||
| He made a lot of waves when I hired him at the FCC. | ||
| He has just been a firecracker. | ||
| We've been getting a lot done, so I share your perspective on him. | ||
| As far as the re-industrialization side, like I was saying before, in the Chinese economy, we've seen a fusion between greater uptake of robotics, greater uptake of industrial AI. | ||
| China has thousands of college programs in that that are a distinct track from computer science. | ||
| And then that's specifically industrial AI. | ||
| That's not chatbots. | ||
| That's machine learning for factory applications in boring but essential areas like quality control and electronic components. | ||
| And we've seen a merger of that increasingly. | ||
| With 5G networking. | ||
| Now, in the United States, of course, we were promised amazing new phone features with 5G. | ||
| But if you read the 5G spec, starting with 3GPP release 17 in particular, I think that's where it really snapped into place for me. | ||
| We're on release 18 now. | ||
| Release 19 is coming out this year. | ||
| But if you read release 17, it really doesn't look like a cell phone spec to me. | ||
| It looks like an advanced industrial networking spec that has roots in cell phone technology, but at this point has evolved far beyond them. | ||
| And that's what we're seeing in terms of Chinese actual deployment of 5G. | ||
| Not that much consumer, lots in the industrial sector, lots of private networking that is just for running particular factories, medical facilities, logistics facilities, etc. | ||
| People always assumed that China was going to be late to automate because they had such a large pool of unskilled low-wage labor. | ||
| Typically, you see automation in an advanced economy when there's a wage replacement possibility. | ||
| Sort of a little bit like how McDonald's has all these kiosks now. | ||
| You go in, you order from those, and they don't have to pay as many counterstaff. | ||
| But what we're seeing in China is that China is front-running this, and their rate of robotics adoption is something like seven times the wage-predicted rate. | ||
| What we're seeing is that with Chinese production lines, it's no longer the sort of Circa 2007 image, in many cases, certainly in telecommunications, my field, where you've got the people on the assembly line working with the pots of glue and little screwdrivers to put phones together. | ||
| We're way, way, way beyond that. | ||
| I personally ask myself, how can the Chinese put out a really good electric car for $10,000? | ||
| It's not low wages. | ||
| There are plenty of low-wage jurisdictions. | ||
| I'm not seeing $10,000 world competitive electric cars from them. | ||
| And China, in fact, became the world's largest auto exporter a couple of years ago. | ||
| So this is old news at this point, and it should be a wake-up call for our own industry. | ||
| You know, the Warren Posse, which is really the tip of the spear of the activist branch or the activist wing of President Trump's movement, a not insignificant part of that cadre is quite concerned about 5G. | ||
| They look at 5G as maybe having potential health effects, potential ability, you just walk through, to have type of autocratic control. | ||
| If left to nefarious devices or left to nefarious actors, right? | ||
| What's your overall – is the FCC – have you guys fully thought through 5G and Oz implications and you think that you've done a good job or a job enough to make sure the public fully understands what the strategy is here on the communication side? | ||
| Yeah. | ||
| So let's unpack this. | ||
| So 5G is at its root just a protocol for networking. | ||
| In the same way that 4G was the long-term evolution protocol to bring broadband to mobile devices, 5G is a step beyond that in terms of capacities. | ||
| So with 5G, you get a number of things that are a clear evolution from LTE, which is why your 5G phone seems to act like a regular 4G phone, maybe a little faster most of the time. | ||
| But in terms of additional capacities that it brings to the table, it can transmit at higher frequencies, which are less penetrant of your body. | ||
| Or of, you know, a building or something like that. | ||
| Have shorter ranges, but can transmit higher data volumes. | ||
| So you've got those higher frequencies. | ||
| Then you also have ability to put many, many, many more devices on a particular radio, as well as the ability to push more and more network organizing intelligence out to the edge. | ||
| So could 5G be used to enable tyranny? | ||
| Absolutely, because it's a better networking protocol than 4G. | ||
| Is there anything inherent about it that is anti-democratic? | ||
| Absolutely not. | ||
| It's just that you could do the same kind of, you know, if you were going to use it for nefarious purposes, you could essentially do the same thing with any cell phone technology, including 4G. | ||
| You could do anything similar with any powerful wireless networking technology, such as Wi-Fi, assuming you had adequate coverage. | ||
| I think that people are wrong to be concerned about potential social implications of just increasing networking capabilities and putting more connectivity and more ability to transmit data everywhere. | ||
| But I think those are fundamentally social problems, making sure that our institutions aren't going to use those new capabilities in some sort of negative way, the way that they could use any communications capabilities. | ||
| And it's not something specific to 5G. | ||
| You know, this audience... | ||
| Just the other day, with Article 3 Project, Mike Davis, the Viceroy, and War Room Posse working together with Bill Blaster and other of our apps that can get instant access to Congressmen. | ||
| We shut down the Judiciary Committee's, this one agency where they're trying to roll in and really do away with the FTC, where the FTC seems to be going after the oligarchs, right, with Facebook and others. | ||
| Just this amazing... | ||
| Antitrust team. | ||
| Can you walk people through how the FCC actually works? | ||
| Get our audience through. | ||
| You've been selected by President Trump. | ||
| You're one of the commissioners. | ||
| You've got a great new chairman. | ||
| Just take a minute or two and inform the audience how you guys actually work and what you guys actually do. | ||
| Yeah, well, President Trump's selection of Chairman Carr for chair, so elevating him from the commissioner job he'd prior held, was one of his earliest decisions. | ||
| I would say that Chairman Carr was put up for that position during the transition faster than probably at least half the cabinet and probably the fastest in history. | ||
| So this was an enormous vote of confidence by President Trump, which has, of course, been fully justified, and it's fantastic to work with him. | ||
| As far as how our structure goes, there are five commission seats. | ||
| You can only have up to three from a single party. | ||
| So traditionally, it's been that the majority party gets three, and those are all Senate-confirmed seats, so there's no definite timeline for seating people. | ||
| That's up to the Senate. | ||
| So the majority party gets three, and the minority party gets two. | ||
| And typically, commission votes are either going to be on a 5-0 basis or on a 3-2 basis, depending how partisan the issue is, although there are no rules saying it has to be that way. | ||
| Now, what we do, it's a very broad remit. | ||
| We cover transmission of... | ||
| And when you think about the implications of that, that's a huge amount of stuff. | ||
| That's broadcasting. | ||
| That's also the satellite industry because those are communications from space to the United States. | ||
| That's obviously the wireless mobility industry. | ||
| We have a lot of economic competition stuff in there. | ||
| There are some ways in which we look at cable pricing. | ||
| So you put it all together. | ||
| It's a very broad remit, and we're not a very large agency. | ||
| It's about 1,600 people for all those responsibilities. | ||
| Some offices and bureaus are larger, some are smaller, but it's about 100 people per. | ||
| So I think we do a lot with a little, and then we fund ourselves off of regulatory fees. | ||
| So in other words, we don't require appropriations from the public to keep going. | ||
| The industry pays for us to oversee them, so hopefully we're doing a good job of that, and they feel they're getting their money's worth. | ||
| The chair controls the agenda. | ||
| So in terms of what we actually vote upon at the commission, the chair has the job to develop items to be voted on for regulatory change with the politically appointed heads of the different offices and bureaus, sometimes working with multiple offices and bureaus on a project to make sure that we fully covered all of the aspects. | ||
| We might have the Office of Economics and Analysis, I should say, looking at potential financial implications. | ||
| We might have the Wireline Competition Bureau looking at the effects on fiber and cable. | ||
| So there's a lot of technical back-office stuff that we do. | ||
| Nathan, hang on for one second. | ||
| I just want to bring you back after a short break and get all your social media so people can start to follow you in depth. | ||
| Short commercial break. | ||
| Nathan Simonton joins us. | ||
| Be back in the warm in a moment. | ||
|
unidentified
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We'll be back in a moment. | |
| Here's your host, Stephen K. Mann. | ||
| Nathan, before we go, two issues. | ||
| One is the deep state or the intelligence apparatus on anything on 5G. | ||
| And the other is about this whole thing with not just CBS, but these broadcasters and licensing, everything we're hearing about from Carr, about these people just, you know, attacking, attacking, attacking President Trump, editing videos. | ||
| A new thing today about the Kamala Harris 60 Minutes. | ||
| And we understand 60 Minutes is going to go back after President Trump again on Sunday night. | ||
| So any thoughts on this 5G and the intelligence community, sir? | ||
| Yes, absolutely. | ||
| So what we saw during the prior administration was – and at points before that, but let's focus on the prior administration. | ||
| So what we saw during them was – Use of the apparatus to understand, map out, and influence social media and online communications that had been developed for other purposes, perhaps, but that were being deployed increasingly domestically. | ||
| So we had a lot of people within the federal government who had direct plug-ins to social media companies or who had conventional regular communications with them with strongly worded suggestions about the directions in which those social media companies should take things. | ||
| The thing is, if you look at the Facebook IPO back in 2012, the killer app for Facebook more than anything else was that it went with you in your pocket. | ||
| So it was the first form of advertising that really had granular information about customer behavior and customer location. | ||
| And that's really what made the market salivate when Facebook went public. | ||
| 5G is obviously increasing connectivity possibilities, increasing bandwidth possibilities. | ||
| And so plugins in the federal government that are meant to manipulate and direct social media in accordance with some kind of a federal policy would thus find their hands strengthened even more by 5G. | ||
| So I think it's important to bring in social controls over the shaping of public opinion. | ||
| We're supposed to be a democracy. | ||
| We're supposed to tell the government what it's supposed to do. | ||
| It's not supposed to try and... | ||
| And warp our minds in a direction that's favorable to whatever policy they may think we should be following, whether we like it or not. | ||
| What about this whole battle, or at least Carr, it looks like he threw down immediately, against the broadcasters? | ||
| You're not actually threatening or talking about taking their licenses away, which I don't understand how they get the license and say they're going to do public good and the news is so slanted. | ||
| But this is more targeted. | ||
| Yeah, that's right. | ||
| So the FCC doesn't really have jurisdiction to reach any... | ||
| In other words, most people just turn on their TV and they don't necessarily have to think too hard about whether what they're seeing is coming from a local broadcaster or as part of a network affiliation agreement that their local broadcaster is putting out, | ||
| but that originated at the network level, or if it's something else. | ||
| People are subscribing to individual specialty TV. | ||
| So there are a lot of different things out there in the media ecosystem, but the FCC doesn't regulate most of them. | ||
| The online content, we don't regulate. | ||
| You know, people ask me, what are you doing about Disney Fubo? | ||
| And my answer is nothing, because I don't have jurisdiction there. | ||
| So there's, it says communications on the building, but really it should say broadcast communications on the building. | ||
| That would be more accurate. | ||
| So with Chairman Carr... | ||
| His focus is on the specific question of whether broadcast news distortion, which is actionable at the broadcaster level and potentially, whether that took place. | ||
| Both he and I put out statements on that in December and did some interviews on it at the time. | ||
| I saw what I think is the first well-pleated broadcast news distortion complaint I've ever seen in my career across my desk. | ||
| And so that seems like that's a predicate to look into the question. | ||
| There's no way that the FCC can regulate CBS as a whole. | ||
| On the other hand, if there were some sort of improper behavior at the stations that were owned and operated by the CBS network, then the fact that those are broadcasters does give us jurisdiction to start raising questions about the integrity of what was broadcast and whether that's an appropriate use of the airwaves, | ||
| which are, after all, the common property of the American people. | ||
| Great. | ||
| Nathan, I will tell you, the audience loved it, but there's still the juries out in the Warren Posse on the health effects of 5G. | ||
| We're probably going to get Bobby over here for that. | ||
| Nathan Simonton, where do people go on social media to find all your writings and to follow you as you continue to battle for President Trump and the nation at the Federal Communications Commission, sir? | ||
| Well, sir, you can first of all go to FCC.gov, and on my page there, there's access to all of my written statements, some of which are pretty technical and didn't turn into press releases. | ||
| There's also an op-ed tab under me on the FCC's webpage. | ||
| In addition, I'm at Symington FCC, so you've got it right there. | ||
| That's my X account, my official X account. | ||
| It's the same handle on Instagram and on True Social. | ||
| So if anyone's interested in finding out more of what I think about stuff, then that's an easy conduit. | ||
| Thank you, brother. | ||
| Appreciate you. | ||
| Great job. | ||
| Thank you, sir. | ||
| Always. | ||
| You guys want the receipts. | ||
| This is the warriors at the front line that are making massive changes. | ||
| It's just incredible. | ||
| Lara Loomer, and Lara's out and about today. | ||
| But Lara Loomer made the front page. | ||
| God, I love this. | ||
| Laura Loomer makes the front page of the beloved Financial Times of London. | ||
| Trump ditches Waltz after MAGA wrath builds against National Security Advisor. | ||
| And the whole story is about Laura Loomer and the expose she did on the people at the National Security Council and Alex Wong and all of them. | ||
| We're going to try to get Laura. | ||
| Do we have time? | ||
| We're talking about people driving President Trump's agenda. | ||
| Not simply for the MAGA movement, not simply for President Trump, but also for the folks here in the United States of America, all her citizens. | ||
| One of the great warriors we have, we talked about a little bit yesterday, Ed Martin, just an incredible guy. | ||
| Phyllis Schlafly's right hand, Phyllis Schlafly was, her endorsement of President Trump was an inflection point. | ||
| In the 2015 primary and the 2016 campaign, she's one of the great icons of the conservative movement and an absolutely total warrior. | ||
| And so is Ed Martin, who's her ringman. | ||
| Ed Martin is now awaiting confirmation as the U.S. Attorney for the District of Columbia. | ||
| And you understand, besides the top people at Maine Justice, this is, along with the Southern District of New York, the two most important U.S. attorneys in the nation. | ||
| And there's a full-scale war against Ed Martin right now. | ||
| And why is that? | ||
| Because Ed Martin is, how do we say, setting things right. | ||
| Let's go ahead and play this package, and I'll come right back. | ||
| I heard the name Ed Martin. | ||
| I know there's a lot of people to keep track of in Donald Trump's new administration, but this guy is, I would say, a standout. | ||
| And I don't mean that in a good way. | ||
| He is the guy that Trump appointed to be the U.S. attorney for Washington, D.C. So he's not yet Senate confirmed. | ||
| He's an acting right now. | ||
| He is, to my mind, completely unqualified and truly a bit unhinged. | ||
| One of the things he is doing a lot of, since he got into that powerful office basically day one as the acting U.S. attorney, not confirmed yet, he's trying to be confirmed, is this habit of firing off these menacing letters all over the place. | ||
| For instance, to medical journals, from the New England Journal of Medicine to the Journal of Stretch Tricks and Gynecology to CHEST. | ||
| That's a scientific journal for chest doctors. | ||
| If I'm being honest, it's the first time I've ever heard of it. | ||
| In these letters, Martin accuses the journals. | ||
| This is the U.S. attorney, acting U.S. attorney, accusing the journals of bias and demands that they report back to him. | ||
| This is the kind of thing Ed Martin does. | ||
| It's sort of his thing. | ||
| You might recall that he sent a letter apparently only on social media threatening to chase federal employees to the end of the earth to hold them accountable for anyone pushing back on Elon Musk's government efficiency folks who are flooding into agencies with barely any notice. | ||
| This is someone, it would seem to me, based on these letters, who is under the impression that he lives in an authoritarian state, not a free country. | ||
| Where people with the policing power that he's been vested with get to just impose their will at any institution whatsoever, from, you know, the Chess Journal to Georgetown Law School to Wikipedia. | ||
| Now, the Senate Judiciary Committee has yet to vote to start Martin's confirmation hearing. | ||
| But Republican Chair Chuck Grassley said today it is not on the agenda because Republicans still have questions, as they should. | ||
| And there is really just a really long list of reasons not to nominate this guy. | ||
| Other people who are nominated for their position don't already hold it, and so at some level it's a little speculative, well, what will they do in the job? | ||
| In this case, he was named the acting on day one, and I have to say these letters he's been sending, here's, you know, three different medical journals. | ||
| The Journal of Chess Medicine. | ||
| I want you to respond to the U.S. attorney about whether you have bias. | ||
| Get back to me on that. | ||
| Georgetown Law School, you have to tell me how you're instructing your kids. | ||
| This is Wikipedia. | ||
| He sent a letter to the nonprofit that runs Wikipedia accusing the tax-exempt organization of allowing foreign actors to manipulate information and spread propaganda to the American public. | ||
| I mean, I have to say these letters strike me as as flatly authoritarian as anything we've seen from the Trump administration. | ||
| And one does have to wonder if he were actually confirmed what he would be doing with the prosecutorial power. | ||
| He calls the hundreds of lawyers who work at the U.S. Attorney's Office, which is a pretty venerated office of prosecutors, the president's lawyers. | ||
| And he has openly said that his job is to go out there and attack the critics of the president. | ||
| I have colleagues in Congress who received threatening letters from Mr. Martin in his first days in office. | ||
| One of the first things he did was to dismiss cases against his own defendants. | ||
| Rather, his own clients, people who were criminal defendants in the January 6th case. | ||
| He was there on January 6th, and he experienced the events of the day as Mardi Gras, he said in a tweet that he sent out as he observed the mass violence against our police officers, the attempt to storm the Capitol, | ||
| the storming of the Capitol, and then the attempt to overthrow the election as Mardi Gras. | ||
| It was a big day of celebration for him, and he has partaken of every form of January 6th denialism and conspiracy theory out there, like the FBI director as well, Cass Padilla. | ||
|
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you | |
| Okay, so he has the endorsement of Chris Hayes and Jamie Raskin. | ||
| And what I mean by that is that they hate him. | ||
| So what does that tell you? | ||
| He's got to be great. | ||
| Whatever they hate is good. | ||
| And they hate him. | ||
| And it's a nonstop barrage. | ||
| And this has nothing to do with Democrats right now. | ||
| This is the acid test on are we going to get serious about going after this apparatus, taking it apart brick by brick, and getting to the bottom, getting to the bottom of what's going on. | ||
| Because Ed Martin ain't looking to co-host Fox News shows. | ||
| This guy's a grinder and a warrior. | ||
| And will not back down at all. | ||
| This all goes back to Grassley and to the Senate Judiciary Committee. | ||
| Number one, when you have these confirmations of U.S. attorneys, we've never had confirmation hearings. | ||
| I think you have 93, 92, 93 U.S. attorneys, right? | ||
| And then you have hundreds of attorneys underneath it. | ||
| But if you had to confirm in a hearing the U.S. attorneys, you'd never get anybody appointed. | ||
| It would take forever. | ||
| They do it all in kind of paperwork. | ||
| This is all about the Senate Judiciary Committee, and this gets back to the controlled opposition of the Republican Party. | ||
| There are many, many people that are just not moving with urgency and alacrity. | ||
| And, hey, we've got to get this done. | ||
| Let's grind. | ||
| Let's grind. | ||
| Seven days a week. | ||
| Let's hit it. | ||
| Action, action, action. | ||
| You have a lot of these people around here just lazy or don't want to do it or they're too, you know, they're concerned about Jamie Raskin saying something bad about them. | ||
| They're concerned and worried about Chris Hayes having a segment and Chris Hayes' producers cutting together, you know, footage and having your letters up there where they're attacking you, attacking you, and attacking you. | ||
| They don't like that because they're not courageous. | ||
| This game is not for the faint of heart. | ||
| Did they not put, and was it not Matthew Graves in that crowd over as a D.C. U.S. attorney, put all the January 6th people in prison? | ||
| Did they not? | ||
| Did they not try to put President Trump, working with Jack Smith, put President Trump in prison for, I don't know, 300 years? | ||
| Short commercial break. | ||
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Short commercial break. | |
| Here's your host, Stephen K. Band. | ||
| There are things at Maine Justice that are happening, okay? | ||
| There are other things happening around town. | ||
| You get the great Tom Fitton. | ||
| When you look at the convergence of the crises we are coming to, the budget today was kind of initial, and it's directionally, we're getting there. | ||
| It's not great, but it's a start, at least from what I've seen in the little bit I've seen. | ||
| We're going to get all into that. | ||
| It's clearly not cut enough, but... | ||
| This is part of this, the crises we're coming to now, folks. | ||
| So plan out for the next 100 days. | ||
| Let's go to the end of July. | ||
| Let's go to July 29th, basically. | ||
| Or 30th. | ||
| So the next 90, 100 days, I guess, will be the first week. | ||
| Let me do some rate math. | ||
| It'll be the first week of August. | ||
| When they all get ready to leave here. | ||
| You're going to have this constitutional crisis, driven by what the judge said yesterday, of stepping in between President Trump being commander-in-chief, number one, the deportations. | ||
| And they're winning because they're jamming us up on the criminal element, hoping to break our will, because this is all about will, political will. | ||
| They hope to break our will on the 10 million that have to leave. | ||
| And you have to do it humanely, of course. | ||
| But they've got to go. | ||
| That's number one. | ||
| Number two is, and today the New York Post has got it, I think, you know, Secretary of State Ruby and the guys say, hey, look, we signed the Middles deal, but it looks like we're not making progress. | ||
| We're kind of going to take a timeout, or at least some word to the effect that the Ukraine thing, you guys slug it out. | ||
| But we're not putting up any more money. | ||
| So this is the kinetic part of the Third World War. | ||
| And you saw President Trump came out yesterday on the Persians and said, hey, how about this? | ||
| 100% stopping the oil, all their oil. | ||
| I would just say in the two and a half billion, a million barrels a day going to the Chinese Communist Party, but blockade it all. | ||
| Stop it all. | ||
| So you got that part. | ||
| Then you had the finance and the economics and how you're going to fund it. | ||
| So all those are converging over the next hundred days, which is phase two of this, right? | ||
| To one of the most contentious, complicated inflection points in the history of the Republic. | ||
| That's the stakes that are on the table. | ||
| That's the stakes Trump's playing for. | ||
| He's not doing small things. | ||
| He's doing the biggest things you could do at the highest level with a sense of urgency. | ||
| Trump. | ||
| We did that town hall the other day on NewsNation. | ||
| He's calling in from his desk in the Oval Office at 8 o 'clock at night, and they're talking about it was just after the speech we did live for the tech CEOs. | ||
| He's saying, hey, I got a bunch of these guys backed up. | ||
| I'm going to meet with these guys right afterwards. | ||
| He's going to sit down with these guys again. | ||
| He's going to work to 10 or 11 o 'clock at night, every night, and then be up at 5 in the morning dropping truth bombs on Truth Social. | ||
| That's one of his superpowers. | ||
| It's just, you know, energy at a level that you've never seen before. | ||
| I consider myself a very hard worker. | ||
| You guys, I do this seven days a week. | ||
| I can't keep up with him. | ||
| In fact, on this show, our specialty is to cover this in depth, knowing that we've worked on it for four years, etc. | ||
| It's so complicated just to keep up with it because it's so much. | ||
| And he's, boom, in opposition. | ||
| He broke Rachel Maddow. | ||
| She had a nervous breakdown. | ||
| She's going back to the barn in Connecticut. | ||
| She's done. | ||
| Done and dusted. | ||
| Which gets me back to the other element is the deconstruction of the administrative state and the destruction of the deep state. | ||
| And this is not getting the priority it needs to get. | ||
| That's where Ed Martin's a battering ram. | ||
| He's a battering ram. | ||
| When President Trump picked him in the early days, I'd go, oh my God, what a brilliant pick for that billet and replace Graves, who was so awful. | ||
| You remember everything that came out of Graves, everything that came out of this U.S. attorney. | ||
| When you have... | ||
| Because with Rachel Maddow gone, Hayes is kind of her... | ||
| They've got other people. | ||
| But Hayes is her acolyte. | ||
| She created Chris Hayes. | ||
| So he'll be the light version. | ||
| He'll never be Rachel Maddow, but he lays it out. | ||
| He cannot get on this story more of Ed Martin. | ||
| Now here's the heart of the story. | ||
| This is a Republican issue. | ||
| We control the Judiciary Committee and we control the Senate. | ||
| So this has nothing to do with Democrats. | ||
| This has to do, and yesterday you heard Tom Tillis, and my understanding is after you guys carpet-bombed Tillis' office, upon further review, he's open. | ||
| But you've got others on the Judiciary Committee, including the beloved Senator Grassley. | ||
| So we're going to get organized today and then tomorrow, but on Monday, we're going up. | ||
| This is Get Ready to Go Fix Bayonets on Ed Martin. | ||
| We've already done quasi, but they ain't seen nothing what we're prepared to do. | ||
| Because this is totally within control of yourself. | ||
| And this gets to the heart of what the problem has been. | ||
| And that is that the Republican Party is controlled opposition. | ||
| Controlled opposition. | ||
| The number of fighters you've got up there is a handful. | ||
| Don't let them come back and talk to you about everything they're doing. | ||
| The number of fighters you have. | ||
| In the House, in the Senate, in this House a little bit more, maybe I'm a 25, 30, 35, in the Senate a handful, just a tiny handful, and they can sit there and they can talk all the MAGA talk they want to talk, they can talk all the populism, they can talk all the economic nationalism. | ||
| This is beyond talk, this is action. | ||
| Where are you? | ||
| Are you standing in the breach? | ||
| Because Ed Martin is a blunt force instrument. | ||
| He's kind of a mini blunt force. | ||
| Trump's the big blunt force instrument. | ||
| This guy's a couple levels down, but trust me, it's blunt and it's a force. | ||
| Raskin and Hayes are two smarter guys on the other side as they got. | ||
| Chris Hayes' show, they do not waste their time. | ||
| When they get something in the gun sights, they know it's important. | ||
| And they got... | ||
| They got brother Ed Martin in the gun sights because they understand there's enough cowardice in the Republican Party to blink. | ||
| We cannot blink. | ||
| We cannot blink. | ||
| And there's still this amazing lack of urgency with this administrative and deep state. | ||
| I'm again to the administrative state and the Doge efforts about how hard it is to penetrate this, of how hard it is to smash it. | ||
| And the people like Ed Martin, they're prepared to step into the breach and say, hey, I'm all in. | ||
| Only a handful. | ||
| We have to have their back. | ||
| Okay, short commercial break. | ||
| The Rio Reset. | ||
| Right now, it's the seventh free installment. | ||
| Go to birchgold.com slash Bannon. | ||
| Get Rio Reset today. | ||
| Homework assignment. | ||
| Get up and get ready. |
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