May 12, 2025 - Bannon's War Room
48:37
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| Speaker | Time | Text |
|---|---|---|
| Mark it up right now about 1,000 points. | ||
| So it's up over 42,000. | ||
| So the mid-April, blaring headlines every day from the left media that this is worse than 1929 or 1932 in the Great Depression. | ||
| That's kind of put to bed. | ||
| Gold is down $100 at $3,200. | ||
| We're told this is going to bounce around. | ||
| 10-year bond, 4.4. | ||
| 10-year has been edging up. | ||
| The market response to this so far is pretty positive. | ||
|
unidentified
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It's been great, but again, it's not just that. | |
| As you know, obviously, the past 30, 40 years, the wealth has all been created in the markets, but not with the working class. | ||
| But the wheels have been put in motion by President Trump to bring back these jobs, to look after these specific sectors. | ||
| This fundamental shift is on. | ||
| This is changing. | ||
| He is single-handedly saving the U.S. auto industry. | ||
| He's single-handedly bringing about the U.S. semiconductor industry as we see TSMC building their big facility in Arizona. | ||
| Talk to us when you were in Taipei. | ||
| What's the feeling over there? | ||
| Because that's like the danger zone. | ||
|
unidentified
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It is a danger zone. | |
| And they live in a world where in any moment China could go and make the move to take it over. | ||
| And it's not just, by the way, it's not just the chip. | ||
| It's the AI servers. | ||
| There are a number of things that go into the AI ecosystem that are critical coming out of Taipei. | ||
| And they're very concerned, as they should be. | ||
| And so they realize that they need to diversify. | ||
| They need to have operations. | ||
| They need a strong U.S. ally. | ||
| And you can tell just in talking to them it's the first thing that comes up. | ||
| We're part of the decoupling crowd, right? | ||
| We're anti-CCP. | ||
| However, we understand the reality of the global economy. | ||
| We were a huge supporter of Lighthizer's two-year effort to actually get a deal that integrated it all, took care of all the original sins of the Chinese Communist Party as far as the economy goes, for two years. | ||
| And then at the end of that, they kind of spit in President Trump's face and walked away from that deal. | ||
| We did get the skinny deal later, which is a part of this and the execution of it. | ||
| But how does President Trump now navigate? | ||
| It's because they're committed to a strategic decoupling. | ||
| What Besson said there was so important. | ||
| Strategic decoupling, and particularly precision manufacturing, bringing manufacturing back, looking at jobs. | ||
| You're not going to get that done in 90 days. | ||
| That's going to take a while. | ||
| And Jameson Greer is the perfect guy. | ||
| People don't understand. | ||
| Ambassador Greer, who was at the microphone next to Scott today and was with Secretary Besson the entire time, he was the wingman for Lighthizer. | ||
| He was the deputy over there, and he worked for two years. | ||
| This guy knows the Chinese as well as anybody except for maybe Peter Navarro. | ||
| How do you work through that? | ||
|
unidentified
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Well, keep in mind that one of the things Secretary Besson said in that 3 a.m. press conference, 9 a.m. | |
| Geneva time, was that now we have the mechanism in place to even have these talks. | ||
| To have a process. | ||
|
unidentified
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To have a process. | |
| This is important people might not realize. | ||
| For the past four years with Joe Biden, not only did Biden not enforce the Trump deal, they just steamrolled over. | ||
| They did not even have who is supposed to speak with whom, how are you supposed to push forward on this, because Biden was, well, literally and figuratively asleep at the wheel. | ||
| This entire time. | ||
| Now they know who to talk to, how to go and do it. | ||
| That's an important point. | ||
| That was the single biggest complaint that Besant told us today of the Chinese when they first showed up to say, look, if this is going to be real, we need a process because we haven't heard from you guys in four years, which is pretty stunning. | ||
|
unidentified
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And by the way, it's not even just examples such as trade. | |
| I mean, when Steve Witkoff told me that he was over doing some of the initial pre-inauguration peace talks that... | ||
| Some of the players that were involved in that process would just laugh and say, we don't even know if the people here talk to Joe Biden. | ||
| Joe Biden doesn't know who these people are. | ||
| Having people actually know who to talk to in these other governments or in these other operations is the whole thing. | ||
| And dealmakers engage. | ||
| I mean, look at this conference. | ||
| I know you've got a bolt. | ||
| Peace deals, trade deals, tax deals. | ||
| What else we got? | ||
|
unidentified
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We got drug deals. | |
| Drug deals. | ||
| This is monumental. | ||
|
unidentified
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This was huge. | |
| Everything that every politician going back my entire adult life has said that they were going to do, which has never been done, President Trump just did it today. | ||
| So, effectively, these costs are going to be shifted back to the Europeans. | ||
| It's not going to be... | ||
| Well, this is what would happen, is that the American people would pay for the intellectual property, the primary research at the universities. | ||
| This would get up to the drug companies. | ||
| They'd have patents for a while. | ||
| And what they would do is we would basically underwrite the European nations having a better deal than the American people and higher prices. | ||
| Trump just said, hey, look, guess what? | ||
| You're going to take your profits from Europe, and you're going to have to plow them back here because we're going to cut the prices. | ||
| We're going to give the American citizen most favored nation status, essentially. | ||
| Right. | ||
|
unidentified
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Well, and that's exactly it. | |
| We heard the examples from Secretary Kennedy, from Bhattacharya or McCary or Dr. Oz. | ||
| They went through and listed example after example of why will some other country, they pay $8 for this, but then we have to pay $1,000. | ||
| And that's highway robbery. | ||
| And especially, keep in mind, when you're talking Medicaid, Medicare, this is taxpayer money. | ||
| That's why you have Dr. Oz, the head of CMS, who's up there talking about it, because this is where... | ||
| Why has this never been, in all the years you've been here and been on the Republican politics side, why the Oval Office in the Roosevelt Room, that whole West Wing, has been bought and paid for by Big Pharma? | ||
| Why has this never been done except for today? | ||
|
unidentified
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Because Big Pharma's got a big checkbook. | |
| And you think about, Steve, the structural reform of something like this. | ||
| This is how you bring things like this and bring down the cost of entitlements by going and having smart... | ||
| This is his comments about Medicaid and Medicare. | ||
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unidentified
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Yes. | |
| So this is because we all know that entitlement growth is the thing that's absolutely blown up the budget. | ||
| Obviously, President Trump has said that we're not going to cut entitlement benefits, but you can do it smarter. | ||
| You can do it more efficient in the amount of money that we can save just from something like this. | ||
| Blows away even some of the much-hyped-up savings that we've found so far in this administration. | ||
| This is the bazooka blast. | ||
| What he's doing is so smart. | ||
| He's going after foundational elements that drive costs to the American people. | ||
| Energy prices are coming down. | ||
| The drug prices are going to come down. | ||
| The cost of living is essentially going to come down, right? | ||
| And this is where he's going to get economic traction to do other things. | ||
| But he's going after, of course, the things he's doing. | ||
| Behind the scenes eventually become policy. | ||
| And this is why I love when he just comes in and takes an hour and just takes questions from the media. | ||
| It is so powerful and rewiring not just the global economy and the commercial relationships of the American people and the country, but the entire way the nation works. | ||
|
unidentified
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Now, and exactly even when it comes to the tax bill, I know the first draft of it. | |
| Might have had a couple of omissions. | ||
| He's going to get it done. | ||
| We saw it. | ||
| The thing put out Friday night, it was a little light. | ||
|
unidentified
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Right. | |
| But the energy cost coming down, the cost of prescription drugs coming down. | ||
| We look at the taxes coming down. | ||
| I mean, so much of this is coming to play. | ||
| And also, he single-handedly saved the U.S. auto industry. | ||
| I mean, the trajectory of the U.S. auto industry is going to be kaput. | ||
| You see right now, you see what's happening in Germany, for example. | ||
| The Chinese have come and completely eaten Germany's lunch. | ||
| In the middle, what they call the middle companies, right in the middle. | ||
| The Chinese took them all. | ||
|
unidentified
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They took them out. | |
| I mean, their industry, their manufacturing base is wrecked. | ||
| Plus, they've gotten themselves in the pickle with energy. | ||
| They cut off the Russians, they turn off the nukes and the coal plants, and then I guess they just read their... | ||
| Pedal their bikes to work. | ||
| I don't know what Germany is even doing anymore. | ||
| The new Portugal and Spain. | ||
| They're going to have a couple of dark days. | ||
|
unidentified
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And some of those Mike Bloomberg bike lanes for Germany because no more energy. | |
| But they're going to go and turn that around. | ||
| I think Mertz and some of the others at least will be better than Olaf Scholz from before. | ||
| But the fact of the matter is President Trump said it's going to take a little bit of time. | ||
| We're going to get there. | ||
| Secretary Besant said you've got to look at the regulatory changes. | ||
| You've got to look at the tax changes. | ||
| You've got to look at the trade changes. | ||
| This is all part of one pie. | ||
| It's one part of an ecosystem that when Scott and Besant and Trump are talking about bringing these jobs back, you're going to have a better regulatory environment, better energy environment, better ecosystem built up. | ||
| Infrastructure will be in a complete package. | ||
| That's not just tariffs. | ||
| That'll be a big part of it. | ||
| That's why jobs are going to come back. | ||
|
unidentified
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And today, with this drug pricing deal, For President Trump to do this, Steve, your point was so spot on. | |
| For literally decades, politicians have talked about doing this, but they've always been chicken because pharma has a big checkbook. | ||
| Well, guess what? | ||
| President Trump just said and even started off by saying, hey, I know these guys kicked in a lot of money, but you know what? | ||
| This is about the American people. | ||
| So heroic. | ||
| What he's done with big tech, the oligarchs and what he's done here. | ||
| Also, Bobby Kennedy. | ||
| I got to hear a Democratic response to what Bobby Kennedy said. | ||
| Bobby Kennedy is Democratic Party royalty. | ||
| And Bobby Kennedy says he's worked his entire adult life for this. | ||
| It's never happened. | ||
| And he said he called out Bernie Sanders by name. | ||
| He said, Bernie Sanders, this is what you stood for. | ||
| Biden didn't do it. | ||
| They had every opportunity to do this in Biden's term, and nothing happened. | ||
|
unidentified
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Meanwhile, that's why you see the Democratic Party in such disarray. | |
| You have Mayor Pete and Jasmine Crockett and the rest of the all-stars that are leading that party. | ||
| It's not serious. | ||
|
unidentified
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It's not serious. | |
| Bob Reich wrote a great piece in The Guardian about a populist economic left. | ||
| It's a cry for help. | ||
| I only got you for a few more minutes. | ||
| The one we haven't covered is peace deals. | ||
| A bombshell right there on Turkey. | ||
| Because Turkey, you've got the Ukraine peace negotiations that Erdogan's going to host on Thursday. | ||
| The president showed a little ankle there. | ||
| You think a possibility that President Trump could be in Istanbul? | ||
|
unidentified
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Boy, I can only imagine Sean Kern sweating as he heard that. | |
| Sean, of course, being the head of the Secret Service. | ||
| No problem securing that. | ||
| Hey, boss, what are you doing to me here? | ||
| But no, but this is it's only coming about because of President Trump. | ||
| And this is the thing. | ||
| It's the force of personality. | ||
| It's the knowing how to use the big bazooka blast to get engaged, get them engaged. | ||
| Steve, there was nothing that was going to change the trajectory of this war if it wasn't for President Trump. | ||
| And from the beginning, President Trump had the messaging on this, so perfect, we have to stop the killing. | ||
| Everyone else comes in there arguing about a province here, a region here, we got to get this land, or they're trying to define No, no, no. | ||
| This is about stopping the killing. | ||
| When you have the destabilization between Russia and Ukraine, what that does is that kills business investment. | ||
| Whether it be not just in Central and Eastern Europe, but really in all of Europe, people get nervous about what's going on. | ||
| It changes what's happening with the global oil and energy supply. | ||
| The market's there. | ||
| It really has folks clenching up and not wanting to go and spend or invest money. | ||
| You get that saved, people start deploying capital again, and the global economy will be much better off. | ||
| I tell people in the second hundred days, and we're going to see the summer, is the convergence of crises now. | ||
| You've got the first, I believe, The only thing that Democrats got going for it is this radical judicial supremacy, right? | ||
| Something's gonna have to happen between now and the time the court leaves at the end of June, correct? | ||
| We're gonna have to have some... | ||
| Some resolution to these judges stepping between because to delay is to deny, right? | ||
| And that's obviously what they're trying to do. | ||
| Make it smart on the convert. | ||
| You've got the debt ceiling comes due in the first couple weeks of August. | ||
| You've got the big beautiful bill, how that lumber's through here. | ||
| You've got the mass deportations, the court situation, plus the kinetic part of the third world trying to balance all these different zones of conflict. | ||
| Now Kashmir and Pakistan thrown in there. | ||
| Make us smart the next 100 days or so. | ||
| How does Jason Miller look at this? | ||
|
unidentified
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So obviously watching all the trade deals, I think the administration is pretty darn close on a few others. | |
| They'll be ready to be announced, which is good. | ||
| The C-Sation, the big ones, the Japans, the Koreas, the Indias. | ||
|
unidentified
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Yeah, there'll be several more that are coming. | |
| So that's going to be continued progress. | ||
| The big, beautiful bill. | ||
| Look, I know everyone's optimistic we're going to get it done in July. | ||
| I hope it's July before the August recess just because of the debt ceiling. | ||
| I'm a September guy. | ||
|
unidentified
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I'm probably a September guy. | |
| That's just realistically... | ||
| Scott's going to have to learn to stretch the debt ceiling. | ||
| Priority payments. | ||
|
unidentified
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Yeah, priority payments. | |
| Get it in, you get a 10% discount. | ||
| So that's an issue. | ||
| But the thing that I'm really paying attention to, Steve, is the constitutional crisis that I think this country is coming up on. | ||
| The fact that you have these rogue circuit court judges that can go and put a temporary restraining order. | ||
| Like on Friday, 21... | ||
| Agencies, president can't touch some judge, a Clinton appointee in San Francisco. | ||
|
unidentified
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Exactly. | |
| Or it'll be some Biden appointee in Rhode Island or some blue state, some Democrat-appointed judge. | ||
| Then that holds for the entire country. | ||
| That is not the equal balance of power. | ||
| Do you believe that, as I've been saying now, that the court leaves the last week of June, they come back in the first week of October? | ||
| This part of it has to be resolved. | ||
| You can't have a summer with this open where these judges are still making these decisions and stopping the deportations of these criminal terrorists? | ||
|
unidentified
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It is. | |
| I mean, in many ways, I think I said this once before. | ||
| Effectively, they just traded their pink hats for black robes. | ||
| This is the new resistance. | ||
| This is how they're trying to stop President Trump. | ||
| The Democrat Party is a complete mess. | ||
| They have no idea what they're doing. | ||
| But they look and they say, you know what? | ||
| This is how we'll throw the refrigerator on the train track by having these rogue out-of-control judges. | ||
| President Trump, one of his closest advisors, Jason Miller, where do people go on social media to get you? | ||
|
unidentified
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Absolutely. | |
| You can find me on X. Do we call it X now? | ||
| Twitter, at Jason Miller, at Jason Miller in DC. | ||
| And you're pretty selective now in your TV appearances. | ||
| Once you were doing all the CNN because you had a deal over there, but now you're pretty selective where you go, right? | ||
|
unidentified
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Yeah, I'll get out there either when President Trump needs another advocate or if there's something that I'm passionate on. | |
| Today's a perfect example. | ||
| I mean, how many historical things are happening? | ||
| No, no, 3 o 'clock in the morning. | ||
| Nobody better to talk to than Jason Miller, our original co-host here with Raheem in the warm. | ||
| Jason, thank you so much, and thank you for hanging around. | ||
| Just fantastic. | ||
| Short commercial break. | ||
| We're going to return to the war. | ||
| Take your phone out. | ||
| Bannon, B-A-N-N-O-N at 9-8-9-8-9-8. | ||
| Get to Birch Gold today. | ||
| The ultimate guide to investing in gold and precious metals in the era of Trump. | ||
| Take a short commercial break. | ||
| Jason Miller, thank you so much, brother. | ||
|
unidentified
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Thank you. | |
| Thank you. | ||
| I got American power I got American faith In America's heart Chinese have an economic plan called dual circulation. | ||
| And with dual circulation, our goal is to make sure dual circulation means export and domestic use. | ||
| Dual circulation cannot mean that China overproduces and that only Chinese goods are consumed in China and then they export the excess to the rest of the world. | ||
| So we have had the equivalent, because of these high tariff rates, of an embargo on China, and those goods are going to leak to the rest of the world. | ||
| So our negotiations, we don't need to tell other countries what they need to do. | ||
| They are seeing this wave of Chinese goods coming to their shore. | ||
| They have to find a home that could be at a discount price, undercutting local producers. | ||
| And again, one of the most important things that we're doing. | ||
| We do not want a generalized decoupling from China, but what we do want is a decoupling for strategic necessities, which we were unable to avoid. | ||
| We are going to create our own, protect our steel industry, work on critical medicines, on semiconductors. | ||
| So we are doing that and The reciprocal tariffs have nothing to do with the specific industry tariffs. | ||
| What has to happen is it has to be fair for the American people. | ||
| But in January 2020... | ||
| That's Scott Besson. | ||
| So today, historic day, Secretary of Treasury Besson and Ambassador Jameson Greer live from Geneva this morning. | ||
| Scott Besson is flying to Saudi Arabia, I think, even as we speak. | ||
| So they started off at 3 o 'clock Eastern time. | ||
| With a live press conference to explain this 90-day kind of process with the Chinese Communist Party. | ||
| And the key takeaways, number one, he said this is a strategic decoupling. | ||
| At first he said decoupling and then he refined it later. | ||
| Strategic decoupling. | ||
| What he means by that is that not all industries are going to come back, they're not going to make a forced effort, and all industries are going to focus on high-value-added manufacturing, particularly precision engineering, precision manufacturing. | ||
| So in 90 days, the tariffs here, I want everybody to understand, the tariffs as structured now are 50% on Chinese products. | ||
| How do I get to that math? | ||
| Quite simple. | ||
| 20% from Trump's first term. | ||
| That Biden never took off because there was too much pressure not to take off. | ||
| The Chinese mentioned that in the first round of negotiations. | ||
| So that's 20%. | ||
| 20% on fentanyl, which has not been taken off. | ||
| And he took the escalatory reciprocity tariffs that were at 145, I think. | ||
| 125 to 145, he brought those down to 10%. | ||
| You add that up, it's 50%. | ||
| China's 10% with us. | ||
| And that's the pressure. | ||
| The Chinese economy, as everybody knows, is under enormous, enormous pressure. | ||
| Not just the real estate industry, not just the commercial banks, but manufacturing, having plants closing. | ||
| Because up until today, there's been a complete and total embargo of essentially both countries, the two largest trading partners in the world, complete and total embargo. | ||
| And I think what, a $1.2 trillion running annual deficit, the total trade deficit, $25 trillion, ladies and gentlemen, 18 trading of that. | ||
| Right to the Chinese Communist Party. | ||
| As you can know from Italy to France and particularly Germany, the Chinese Communist Party is rapacious in how they destroy industries and take them to China. | ||
| So, good news out of this. | ||
| I know for many of the hawks, people on our side... | ||
| The one totally decoupling. | ||
| Not a 100% victory, but that's fine. | ||
| It's a process, and this shows serious engagement. | ||
| Scott Besant, very, very serious. | ||
| Tremendous move on this, and they're going to hammer away. | ||
| Key thing on semiconductor and all the high-value-added manufacturing, that's all coming back here. | ||
| And remember, Besant says some of the day is quite important. | ||
| This is a whole package. | ||
| You're going to have tax relief, you're going to have massive deconstruction in the administrative state that will lead to deregulation, lower energy costs. | ||
| All that combined with a tariff, with basically protectionist tariff barriers, will add to a complete picture. | ||
| This is why you're going to see, I think it's up to $2 trillion now, of companies saying they're bringing manufacturing jobs back here, not sovereign wealth funds. | ||
| Now, the sovereign wealth funds, President Trump's going to do that in the next couple of days. | ||
| He's leaving shortly, and we're going to cover that live. | ||
| My crack producer, the guy's in Denver and in West Palm Beach. | ||
| We want to make sure we get President Trump. | ||
| He's going to, I think, walk out and take Air Force, take Marine One out to Andrews Air Force Base. | ||
| He's leaving for Saudi Arabia here momentarily. | ||
| So that's on the trade part. | ||
| Remember, it's peace deals, it's trade deals, and it's peace deals and trade deals and tax deals today. | ||
| Also drug deals, the drug deal. | ||
| He did something that was absolutely epic and historic. | ||
| With Bobby Kennedy and Dr. Oz by his side, but Bobby Kennedy, a really part of the royalty of the Democratic Party, stepped up to the microphone and said, hey... | ||
| Republicans and Democrats have tried to do this for 50 or 60 years. | ||
| They've been too intimidated because of the money of Big Pharma. | ||
| President Trump, who all the Big Pharma guys ran to him after, remember Mar-a-Lago, you had the news media every day, Big Pharma's down there having meetings doing this. | ||
| This is the reason we got Bobby Kennedy confirmed. | ||
| President Trump was bold in his pick of Bobby Kennedy. | ||
| This show, this audience bombarding the guys in the Senate that didn't want to vote for Bobby Kennedy. | ||
| Today is the reason that you got Bobby Kennedy in there as Secretary of Health. | ||
| Why? | ||
| Bobby Kennedy helped work with Dr. Oz, who's going to manage this process, to go to the president and say, hey, here's what we can do. | ||
| Here's the executive order you should sign. | ||
| And Bobby Kennedy called out Bernie Sanders by name. | ||
| He said, Bernie Sanders has talked about this. | ||
| He built his campaign around this. | ||
| If you watch this phony cosplay oligarchs roadshow he's got with AOC, one of the big things they bring up is this. | ||
| Well, today, President Trump did it in the Oval Office up to 80%. | ||
| And what this is doing is essentially The American people have been underwriting Europe. | ||
| This is where the profits of the drug companies are made. | ||
| And in the United States, they sell at a very different price in Europe. | ||
| That's now coming back. | ||
| He's put them on notice. | ||
| That's starting immediately. | ||
| And that is going to, this is what I said is so important. | ||
| This is going to start to, you're going to see the cost of Medicaid drop, the cost of Medicare drop. | ||
| These, you know, when Medicaid and Medicare are a trillion dollars, you're going to start to see the costs coming out of there, just like lower energy costs are lowering, you know, the cost of living all around. | ||
| That's another big aspect of it. | ||
| So absolutely, totally historic. | ||
| Working on getting Jack Basovic up. | ||
| Jack is back. | ||
| He's back from Rome. | ||
| Saturday night, we've got a lot to talk about about that. | ||
| Also about China. | ||
| He's got a lot to say here. | ||
| So historic day. | ||
| The president's about to leave for Saudi Arabia. | ||
| And in Saudi Arabia right now, we understand there's going to be It's principally... | ||
| About investment and about investment in the United States, investment in the global market. | ||
| He's going to be in Saudi Arabia, also UAE, and Qatar, right? | ||
| Not my favorite country, but he's going to go to all three. | ||
| All this is really talking about investment, but remember, he's saying that the foundation of investment is what's going to lead to peace. | ||
| Of course, discussions about what's happening in Gaza, particularly... | ||
| More of the hostages being released. | ||
| President Trump pretty brutal right there and saying, hey, only 20 are still alive. | ||
| The rest are dead. | ||
| The families want the dead bodies. | ||
| He's working to make sure that both the dead bodies and the hostage himself. | ||
| He dropped a bomb there. | ||
| At the end, he did mention that Erdogan is hosting the peace discussions, the ceasefire discussions in Istanbul this Thursday. | ||
| And President Trump said, hey, I'm in the neighborhood. | ||
| You don't know. | ||
| Maybe I'll drop by. | ||
| He said, I'm open to it. | ||
| So that's a bombshell. | ||
| Jack Posobiec joins us now. | ||
| Jack, you're just back. | ||
| From Rome. | ||
| First, give me your thoughts on what you heard. | ||
| You're an old China hand. | ||
| Your thoughts on Scott Besant, Jameson Greer, and at least this interim deal we have with the CCP. | ||
| Well, look, Steve, I think that the Trump deal with the CCP is much better than the Vatican deal with the CCP, which I certainly hope is something that Pope Leo is going to be addressing within, if not the first few days, easily within the first couple hours of this. | ||
| Look, when it comes to dealing with the CCP, it's trust but verify at the end of the day. | ||
| It's all trust but verify. | ||
| And that's why you've got to use the carrot and the stick. | ||
| And for the very first time, Steve. | ||
| Since all the way back in the 1990s and then into 2001, when we gave them most favored nation status, when we allowed them this corrupt criminal cabal into the World Trade Organization. | ||
| By the way, a move that was opposed by the entire left at the time. | ||
| The entire, and I mean like Antifa left, was totally opposed to China. | ||
| They fought riots up in Seattle over this, about allowing China into the World Trade Organization. | ||
| For the first time, finally someone is... | ||
| It's fighting back for the American people and actually saying, you know what? | ||
| These guys have been lying to us. | ||
| They've been lying from the start. | ||
| The only way that they will be able to be held to account is to make them pay. | ||
| It's as simple as that. | ||
| And the levels where they are, it's good. | ||
| But again, it's all going to come down to this. | ||
| What we're seeing now, I think, is a slow decoupling. | ||
| We're not going to decouple, but it is going to be a slow decoupling. | ||
| And Zero Hedge has the guys up there. | ||
| They maybe get a little over the ski and all the ships have ended. | ||
| Some of the ships are still coming, but you eventually want to slow it down and get this decoupling to where it needs to be so the American people get back on their feet. | ||
| I want to tee up. | ||
| We're going to go to break here in a moment. | ||
| I want to tee it up real quickly. | ||
| President Trump disintermediates the mainstream media. | ||
| He had Scott Besson on in a live press conference in Geneva at 3 o 'clock in the morning. | ||
| Then he's doing this today for an hour, talking about the deal. | ||
| Disintermediates, takes questions. | ||
| The Vatican has a secret deal with the Chinese Communist Party. | ||
| They're taking cash money from the Chinese Communist Party to allow the CCP and the PLA to select bishops. | ||
| Give me a minute on compare and contrast that before we go to break, sir. | ||
| You can't do these things in secret. | ||
| And by the way, who were the three people who made that deal? | ||
| It was McCarrick. | ||
| Pope Francis and Cardinal Parolin. | ||
| Right, so Cardinal Parolin, who we were told was the guy that was in, and this is something I've heard from sourcing on the ground. | ||
| I just got back from the Vatican. | ||
| It was at the conclave. | ||
| I heard that Parolin was pushing Pope Leo, that he was pushing Prevost, that this was the guy. | ||
| He said, look, I know that I've been out there too much. | ||
| I'm a little bit older. | ||
| There's some health issues, blood pressure issues. | ||
| That's why I want Prevost. | ||
| Prevost is the guy. | ||
| So that he went into the conclave before they closed the doors as if that he was going to be the frontrunner, and then behind closed doors, the very first thing that I'm told. | ||
| Jack, hang on for one second. | ||
| Take a short commercial break. | ||
| The Rio reset on July 6th in Rio de Janeiro. | ||
| The BRICS nations are going to meet. | ||
| If you saw Xi and Putin over the last couple of days in the 80th anniversary of victory in Europe, they look like two teenagers on their first date. | ||
| A lot's going to happen in Rio. | ||
| Go to birchgold.com. | ||
| The end of the dollar empire. | ||
| The seventh free installment. | ||
| The Rio reset. | ||
| Make sure you get smart. | ||
| Get up to speed. | ||
| Birchgold.com slash Bannon. | ||
| Do it today. | ||
| You've got Marine One out there. | ||
| President Trump getting ready to leave. | ||
|
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There we go. | |
| It's already took off. | ||
|
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Okay. | |
| Got to put my glasses on. | ||
| Short break. | ||
| Back in a moment. | ||
|
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Here's your host, Stephen K. Bannon. | |
| Jack, so it joins us. | ||
| Kind of a truncated show today because we've actually been up live since 3 a.m. this morning watching this historic day starting in Geneva on the Chinese deal and then going to the White House. | ||
| The president just left on Marine One a minute ago from the lawn of the South Lawn of the White House. | ||
| They'll be in Andrews. | ||
| We'll go to the pool feed to see everybody loading up for this. | ||
| It's not a great flight to Saudi Arabia. | ||
| I've done this once with the president. | ||
| The Air Force One. | ||
| Which, folks, I know there's a controversy about this new plane, but Air Force One as it exists, and remember, President Trump made his decision in his first term to make a new one. | ||
| Air Force One as it exists is essentially a flying military command center with a small set of compartments for his staff and for some media, but it's basically a military command center. | ||
| And it has all the comfort of a military command center, which is not much. | ||
| It's like flying in a cargo plane. | ||
| Jack Posobiec, I want to go back to this very important point you just made. | ||
| And all this, and I don't want to say happy talk or nonsense, but I'll call it happy talking nonsense, particularly coming from some of the traditionalists, maybe social media, saying, oh, Cardinal Burke had a big blocking thing. | ||
| That's all nonsense, all crap. | ||
| How was I able to call this 10 days before? | ||
| Because I did my research on what was going on. | ||
| Jack, this was set up and cooked for a guy who's been a cardinal less than two years that's virtually unknown to his other American cardinals, as they said at the press conference the other day, virtually unknown, that was put into the dicastery for archbishops so he could kind of help Bergoglio select who was there. | ||
| It's impossible for that guy to win on the... | ||
| It's basically the third or fourth ballot, right, with any big consternation, unless it's cooked by the Curia and the powers that be. | ||
| And here's what they wanted. | ||
| They wanted somebody in complete continuity with Bergoglio, 100%. | ||
| He's been selecting the archbishops for this entire thing. | ||
| Number two, and more importantly, social media folks. | ||
| This was not Burke. | ||
| They didn't try to push Paralyn. | ||
| This is not some deal on the Latin Mass. | ||
| This is all about the finances of the Vatican. | ||
| The Wall Street Journal lays it out. | ||
| And what was this? | ||
| This was the traditional, the growth part of the Catholic Church in America cut off the Vatican from the collection plate. | ||
| The finances have dropped, I think, 50% from America, from the American church. | ||
| They need the big donors to come back. | ||
| They need the guys at the Papal Foundation to come back. | ||
| They needed an American. | ||
| So what do they do? | ||
| They got a guy in Peru for, what, 40 years. | ||
| He was born in Chicago. | ||
| Nice enough guy. | ||
| He's going to be Bergoglio's. | ||
| Absolute lineage on what he's trying to execute and their radical nature of this kind of whatever this reformed, almost Protestant-like Catholic Church, not traditional Catholicism. | ||
| And in addition, he's going to give the appearance of access to the big American donors so the cash comes back. | ||
| The Wall Street Journal had an article on the first day of the conclave that showed the deficit in the Vatican, the operating deficits. | ||
| Not that they don't have assets. | ||
| They're not bankrupt because they have assets all over the world, but they don't want to sell them. | ||
| We're going to monetize them. | ||
| What they've done is three times the deficit. | ||
| They have a two billion dollar, I think two billion euro gap in their pension fund. | ||
| Posobiec, this was more rigged. | ||
| And people have to understand that this was more rigged and more thought through in the curia than the stolen election of President Trump in 2020, sir. | ||
| Well, Stephen, look, I was in Rome when it happened. | ||
| Nobody could believe that they're in just 24 hours of a conclave. | ||
| So people say it was day two, but remember on day one, there was actually one vote taken. | ||
| So this was the fourth overall ballot all the way through. | ||
| You remember the Speaker of the House election, the last one was longer than this, which functions as a similar kind of election. | ||
| The entire city of Rome was was shocked to see white smoke on after just 24 hours. | ||
| They were in absolute shock that it could come so quickly with. | ||
| And at the time, no information coming out whatsoever about the situation. | ||
| I don't like it. | ||
| It's a bad meme. | ||
| It's terrible. | ||
| Excuse me, the American cardinals were saying, well, we don't really know about Trump. | ||
| We're not really—or this prevost. | ||
| We don't know about this guy. | ||
| This guy, you know, he's not—look, as an American Catholic, I'll tell you right now, that people were stumbling over his name at church this weekend. | ||
| And, you know, no one knows who this guy is. | ||
| No one's heard of him before except the people of Peru and the people of the Vatican, where he only became a cardinal just a few months ago, really, when it really comes down to it in the grand scheme of things. | ||
| So it's a— And Steve, here's the other part of it that I would just add to what you're saying about the finances. | ||
| The Vatican is broke. | ||
| Okay, the Vatican is broke. | ||
| And people need to understand that. | ||
| So when they say, oh, we got all these people in Latin America, we got all these new Catholics coming into Africa, et cetera, et cetera. | ||
| Look, you're not getting money out of there. | ||
| They want money out of North America. | ||
| And what just happened in North America that cut off one of their major funding sources was the Catholic Charities Migrant Refugee Program. | ||
| The fact that that got shut down by the Trump administration, by the way, working with Doge, working with Stephen Miller and all the rest of it, that represents... | ||
| A huge line item to the Vatican, to the Catholic Church. | ||
| Because people, you have to understand you're looking at an operation when we're talking about illegal aliens. | ||
| People say, oh, it's just this thing, it's just natural flows, and it's just natural. | ||
| No, it's not. | ||
| No. | ||
| Do you have any idea how much money it costs to move people from here to there? | ||
| Absolutely. | ||
| You know someone who does get this, by the way? | ||
| I'll tell you one guy who gets this. | ||
| It might not be Rob Prevost, but Lou, on the other hand, the brother, I think he gets this quite well. | ||
| So maybe we can, Steve, maybe we here at the War Room for Human Events Daily can fund Lou to go over there and spend some time with his brother and get him right on a few of these issues. | ||
| The politics of it, look, on the mass deportations, clearly he's going to be up in our face. | ||
| But let's leave that to the side. | ||
| Here, and today, you have even a lot of the politicians saying, you know, two most powerful guys in the world, and the liberals saying this offsets Trump. | ||
| You have President Trump, you have an American-born Pope, Cardinal Prevost, or Pope Leo. | ||
| But they're both dealing with a central issue today. | ||
| The president sits there is negotiating one of the most complicated trade deals in history because you're taking essentially 60% of the trading in the world's economy. | ||
| Two biggest economies. | ||
| One's $30-some trillion, the other's $28 trillion. | ||
| So you've got over $50 trillion of commerce trying to reorganize it. | ||
| He's sitting there doing it live on television, talking about every detail. | ||
| Besson gives a huge press conference, answers every question Trump does. | ||
| Pope Leo, you got a secret deal with the Chinese Communist Party. | ||
| First off, the Vatican State, by definition of being part of the San Francisco Charter to be in the United Nations, you cannot have secret deals. | ||
| Why? | ||
| That's what led to World War I and World War II. | ||
| That's where they were outlawed after World War II. | ||
| They have a secret deal. | ||
| They're taking money from the Chinese Communist Party. | ||
| McCarrick did this. | ||
| Paralyn's up to his neck in it. | ||
| And folks out there, Paralyn pushed Prevost. | ||
| Don't think it was any block that Paralyn was going to get it. | ||
| There was no blocking of this. | ||
| This was Gundek. | ||
| He got there in the third round. | ||
| Jack, what does Pope Leo XIV need to do immediately on the Chinese deal to make sure that, just like President Trump, let's see everything. | ||
| What do we need to do on this Chinese deal? | ||
| And here's why the Vatican won't do it and why Perlin won't do it. | ||
| Because they've given the authority to choose bishops to the Chinese Communist Party in the PLA. | ||
| Cardinal Zen told you about that. | ||
| He's the best guy they got. | ||
| He's the one that should be Pope. | ||
| He told you about it. | ||
| And they're taking money from the Chinese Communist Party. | ||
| This is how they're keeping afloat. | ||
| Jack Posobiec. | ||
| Well, Steve, not only are they keeping them afloat, where did they get that idea? | ||
| Well, they got the idea from the Obama administration and the Bush administration because guess what, boys and girls? | ||
| That's who bailed us out after the 2008 financial crisis. | ||
| This is the part, see, that Hollywood with the big short and all, they kind of skip over a couple of things. | ||
| Where was it that the U.S. got all the money for those T-bills? | ||
| Oh, right, it was the Chinese Communist Party that bailed out the Treasury. | ||
| That's how they could do the bailouts. | ||
| It was the Chinese bailout of Wall Street, which became the underwriting of Wall Street by the Chinese Communist Party. | ||
| That's why I call this the elite merger, not the elite capture. | ||
| No, it was done free will. | ||
| It was done saying, this is the way to get into the new system. | ||
| Well, you see the same thing with the vet. | ||
| Why? | ||
| Because China is cash-heavy right now. | ||
| They're cash-heavy because they're an export economy. | ||
| We go through this every day here on the board. | ||
| They are cash-heavy because they're an export-driven economy, because they send the products out. | ||
| They don't import that much in other than oil and natural resources. | ||
| So they are cash-heavy. | ||
| And what do they do with that cash? | ||
| They go around. | ||
| I think you see with Qatar as well and Saudis and all the rest of it. | ||
| We see all the same in these situations. | ||
| So when they become cash-heavy, then they go and say, oh, we're going to buy up some debt. | ||
| We're going to buy up some of that Vatican debt. | ||
| We just need a couple, three things on the other side. | ||
| So they went to Francis and said, see, unless you've got some cash flow issues over here at the Vatican, we can help that out for you. | ||
| We just want to make sure that, wait a minute... | ||
| I think I saw his tomb. | ||
| I was sitting there kneeling with my brother and we were... | ||
| Praying in front of it and thanking him for all that he did to fight communism in his day as the Pope when he went behind the Iron Curtain, when he went and led the people of Poland against communism. | ||
| Are we going to see Pope Leo go to China? | ||
| Steve, do you think we're going to see him go to Beijing? | ||
| Do you think we're going to see any of that? | ||
| Is he going to go to Taiwan? | ||
| Is he going to go to any of these? | ||
| Is he going to go to the hinterlands of Western China? | ||
| I don't know. | ||
| I'd love to see that. | ||
| But the very first thing, just show us the boilerplate. | ||
| Let us know what the deal was behind the scenes between the Vatican and the Chinese Communist Party, Zhongnanhai. | ||
| So they've got the Vatican, controls the church, Zhongnanhai controls the PRC. | ||
| What? | ||
| Why is the deal? | ||
| Give us Poland. | ||
| We're the senior cadre of the Chinese Communist Party. | ||
| We just got a couple of minutes. | ||
| You also did an amazing interview in Romania before you came back. | ||
| Give us an update on Romania election there. | ||
| We got Poland on Sunday, next Sunday, and we got Romania. | ||
| Sir, where do we stand with both of them? | ||
| Yeah, that's the same day. | ||
| So with Romania, this will be the second round of their presidential election. | ||
| To see who gets over 50 percent for Poland, it'll be the first round of their election. | ||
| They go to a second round on June. | ||
| Look, you're seeing the rise of populist nationalism in Romania. | ||
| Remember, this is the second time they've had a presidential election. | ||
| It's a do-over after the constitutional court overturned the original election of Ceausescu. | ||
| George Escu back in December. | ||
| What's the difference now? | ||
| Now you've got Trump in play. | ||
| So now you've got Trump there, you've got Rubio there, and you even have the ambassador and the U.S. State Department, as well as J.D. Vance, when he went to Munich, saying, we are keeping eyes on what you're doing in Romania. | ||
| We are not going to allow you to do this again. | ||
| And I've got to tell you, Steve, I sat down and did the interview with George Simeon. | ||
| I know you had him on the show as well. | ||
| I mean, this guy, he's walking around, and we went out afterwards and went to Russia. | ||
| Everybody's coming up to him. | ||
| Everybody's taking pictures with him. | ||
| You're seeing videos and songs all over TikTok. | ||
| It's just like we saw with Trump in 2025. | ||
| You're seeing the exact same thing in Romania with the nationalist populist candidate. | ||
| And you're starting, by the way, to see it as well in Poland with Karol Nowrowski. | ||
| And what's the through line of all of this, Steve? | ||
| What's the through line of all of this between Trump and Besant and the Pope and Romania and Poland? | ||
| By the way, Romania and Poland... | ||
| Key supply routes to Ukraine. | ||
| Those are NATO's two largest borders with Ukraine. | ||
| So understand this is all interconnected. | ||
| What's the through line? | ||
| Globalism. | ||
| Globalism is the face of all of this. | ||
| That's the system we're trying to break of the corrupt deal, not just between the Vatican and the CCP, but the West and the CCP. | ||
|
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That is the underpinning of globalism. | |
| Jack, where do people go on social media to get your interview with the future Romanian president and everything you've got up there on RUM, which is fantastic. | ||
| Great coverage. | ||
| Well, thank you. | ||
| He's absolutely going to win. | ||
| We're up at Human Events Daily at Apple Podcasts and Spotify, anywhere you get your podcasts. | ||
| And, of course, we're up on Axe and Getter. | ||
| And I'm going to be on Piers Morgan a little bit later today talking about the rise of what I call the woke light, these liberal globalists trying to censor those of us who dare, who dare to say that we like our country the way it is, who dare to read, oh, my gosh, Pat Buchanan. | ||
| Oh, no. | ||
| Perish the th- Yeah, it'll be fun. | ||
| Jack Posovic, great job. | ||
| On a 1 to 10 scale, 10 being he's there, is President Trump going to Turkey? | ||
| I give it a five right now because it's Trump. | ||
| He could go either way. | ||
| I'd love to see him there, man. | ||
| I would absolutely love to see him. | ||
| It's Trumpian. | ||
| I'll tell you that much. | ||
| Short break. | ||
| President Trump goes up the steps right now. | ||
| Thank you. | ||
| We're going to take a short commercial break. | ||
| We'll be back in a moment. | ||
|
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We'll be back in a moment. | |
| Okay, there's Air Force One getting ready to take off with the President heading to Saudi Arabia. | ||
| Not the most pleasant trip in the world. | ||
| You get there in the middle of the... | ||
| Let's see. | ||
| I actually may get there at dawn. | ||
| I gotta do the math. | ||
| Last time it was long and you're sleeping on the deck. | ||
| There's no accommodations for bed. | ||
| President's got a cabin all the way forward. | ||
| All the way forward is his cabin, and then he's got his office cabin, and then it's where the senior staff sits, and then you've got the conference room where you can have meetings. | ||
| Very cramped on Air Force One. | ||
| So there you see it right there. | ||
| Historic day. | ||
| Started in Geneva. | ||
| Went to the White House. | ||
| So much going on. | ||
| We're going to cover this. | ||
| Also, we had tons of guests this morning that were going to move to this afternoon. | ||
| A lot going on. | ||
| First off, let's take the three verticals. | ||
| On the kinetic part of the Third World War, major negotiations are going to go in Turkey. | ||
| President Trump said, hey, I'm in the neighborhood. | ||
| Maybe I drop by on Thursday. | ||
| Don't know, but we'll cover that this afternoon. | ||
| Also in Israel, all types of controversy. | ||
| And there is a sounding of the war toxins on this bombing run in Persia. | ||
| We're going to get Frank Gaffney. | ||
| Some of the older hands around here are very adamant about this. | ||
| Of course, we're quite adamant that we haven't put the economic warfare part of this. | ||
| On nearly enough. | ||
| But there are people who say, hey, there's a military solution. | ||
| Of course, we do not think that here in the war room, but many of our colleagues, people we have very high opinions of, do. | ||
| And so I think we're going to try and get Frank Gaffney on. | ||
| Mike Davis, all types of things. | ||
| The copyright office person in charge was fired. | ||
| There's a lot going on in the background of that. | ||
| A lot on artificial intelligence. | ||
| Natalie Winters is going to be with us this afternoon. | ||
| Mike Davis is going to be with us this afternoon. | ||
| Hurtling towards the constitutional crisis, and when I said this with Jason, and Jason said this is the number one thing with all the budget stuff going on, all the tax stuff going on, I'll have that all broken down in the 5 o 'clock and 6 o 'clock hour. | ||
| This hurtling towards a constitutional crisis, which we are hurtling towards, it must be... | ||
| Resolve by the end of June. | ||
| When the Supreme Court leaves for the summer, they're not back to October. | ||
| This cannot fester over the summer. | ||
| This issue, particularly about the deportation, something else. | ||
| I believe certain members of Congress should be arrested this afternoon for their activities on this situation up in Newark. | ||
| The mayor was already arrested. | ||
| I think Stephen Miller, as we started here on the show... | ||
| With Rogan O 'Hanley and D.C. Drano to talk about the suspension of the writ of habeas corpus like President Lincoln did during the Civil War, that this is something that has to be on the table. | ||
| I believe that this is going to be even a bigger part of the controversy. | ||
| I think it's going to become part of the conversation. | ||
| I know Stephen Miller and the crack team over there, he's Deputy White House Counsel. | ||
| Chief of Staff for Policy. | ||
| I think Stephen and his team are all over this. | ||
| Remember, Stephen ran America First Law, which is outstanding, did so much of the great work. | ||
| This is the convergence of the crises, right? | ||
| You have the constitutional crisis on the mass deportations and really President Trump's power under Article 2. The judge in San Francisco on Friday said he doesn't have the ability to either cut costs of personnel at 21 separate federal agencies. | ||
| So the whole Article 2 powers of the president now being challenged by, let's face it, radical Marxism. | ||
| It's got to be it's got to be taken care of. | ||
| They asked me at the Financial Times situation on a Saturday Saturday night. | ||
| What happens to Supreme Court rules? | ||
| I said, hey, we're going to see at the time. | ||
| It's that open a question. | ||
| Number two, this whole thing about the Connecticut part of the Third World War, President Trump's in the Middle East. | ||
| It's quite interesting. | ||
| This being very upfront about this. | ||
| They're not talking about. | ||
| Really, the Abraham Accords being expanded or even the talk about Persia, the talk about Gaza, that's all part of it. | ||
| But he's there principally to talk about investments, to talk about economic opportunities, which is quite extraordinary. | ||
| There's this peace conference on Thursday. | ||
| Of course, the Russians and the Chinese could not have been closer. | ||
| Last week in Moscow during the 80th commemoration of victory in Europe from the Russian point of view. | ||
| So all of that's going on. | ||
| We're going to be covering all this this afternoon. | ||
| We're going to have a lot more time now. | ||
| I think President Trump took so long today, which I think is great. | ||
| He disintermediates the media as he sits there in the Roosevelt Room of the Oval Office where he can take all the questions. | ||
| So pretty extraordinary of what's going on. | ||
| Last but not least, the spending. | ||
| And I said at the Financial Conference, hey, I've got to do the numbers, but right now without... | ||
| And the tax bill is Jason Miller. | ||
| Said, a little light on the details. | ||
| Kane over at Citizens Free Press. | ||
| This brother is on fire. | ||
| Go to Citizens Free Press. | ||
| He's highlighting in green and in red some of the outrageous things going on. | ||
| Steve Scalise. | ||
| We're going to break down Steve Scalise's interview on Squawk Boss today. | ||
| Completely and totally unacceptable. | ||
| Scalise shows you the Republicans. | ||
| What they're going to do is defend carried interest, which is outrageous. | ||
| No tax increases for the wealthy. | ||
| He doesn't know about cuts. | ||
| There's no way to pay for this. | ||
| What Scalise and these guys have on the table right now is a $3 trillion deficit in fiscal 26 without gimmicks. | ||
| There can't be any gimmicks here. | ||
| And the bond market is going to reject it. | ||
| The bond market is going to say, so look at the 10-year Treasury right now. | ||
| We've warned you about this. | ||
| Our ability to make decisions, it's getting narrower and narrower. | ||
| And Scott Besson said, first week of August is when you hit the debt ceiling. | ||
| The Japanese, who are going to sign, I think, a memorandum of understanding on a trade deal, they said the over $1 trillion of U.F. government securities they own are going to be part of the trade discussion, as it should. | ||
| That's fine. | ||
| You want to talk about it? | ||
| Let's talk about it. | ||
| First thing you have to do is cut, radically cut federal spending. | ||
| At least so far, I'm pretty glad at least the angle of attack they're taking on Medicaid. | ||
| Okay, we got Mike Lindell. | ||
| Mike Lindell, on a Monday, brother, I didn't even get a chance to have much Warpath coffee. | ||
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| Mike, we'll see you back here in the 5-7 hour. | ||
| Mike Lindell. | ||
| Patriot extraordinaire. | ||
| Charlie Kirk is next. | ||
| Two hours of populist nationalism right here in Real America's Voice. | ||
| Poso is at 2. Steve Gruber's at 3. Eric Bolling's at 4. We're going to do a hard handoff from Eric Bolling back here to the War Room. | ||
| 5-7 tonight. | ||
| We're going to break down. | ||
| I want to thank the War Room Posse for reaching out to Jason. | ||
| He did an amazing job today to break down the tariff structure. | ||
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