Oct. 2, 2025 - Bannon's War Room
48:44
Participants
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| Speaker | Time | Text |
|---|---|---|
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unidentified
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Russ Vogt and Donald Trump are in the kitchen with the active ingredients in deciding what to slice and dice here. | |
| And those two men are here meeting this afternoon to go through potential firings across agencies and potential cuts of projects. | ||
| He's threatened 16 Democratic states, their green energy projects. | ||
| He's threatened the tunnel that is being constructed here in New York, a subway transformation project. | ||
|
unidentified
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There's a lot on the line. | |
| And frankly, until the government is reopened, the Office of Personnel Management sent out to agencies stating very specifically that the OMB director is the one who is empowered to determine which federal workers are accepted and able to work. | ||
| And right now, they are making the case, the OMB director, that those who would be processing the firings are crucial workers and workers that should continue to work. | ||
| And Russ Vogt has been dreaming about this since puberty, according to Utah Senator. | ||
| Strange, strange way to put it, but I guess that underscores how much he wants to slash the government. | ||
| Explain exactly what this executive order will do. | ||
| Yeah, Katie, it's got a lot of people freaked out. | ||
| It's a national security presidential memorandum. | ||
| So it's going by NSPM-7 for short, if you want to Google it. | ||
|
unidentified
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And what it does, it's an attempt by Donald Trump to steer the law enforcement apparatus of the United States in the direction of what he calls domestic terrorism and political violence. | |
| Now, it's important to say, Katie, that this doesn't create any new laws or any new surveillance authorities for the FBI. | ||
| They still have to follow the same rules they did before. | ||
|
unidentified
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But what it says is it's making a priority to investigate groups that Donald Trump says are leading to domestic terrorism. | |
| And that has got a lot of people freaked out. | ||
| And one former DHS official, Miles Taylor, said that he believes that this will allow the Trump administration to more easily put people on terror watch lists who previously were not eligible for terror watch lists. | ||
| And you get on a terror watch list, that can be a big problem in a lot of ways. | ||
| And opening a criminal investigation into someone, even if they're never prosecuted, can be a big problem, or into groups like the Soros Foundation or groups that the Trump administration thinks are supporting left-wing organizations that they don't like. | ||
| And so that's the concern here. | ||
| It's got law firms paying close attention. | ||
| It's got NGOs and groups paying close attention and journalists. | ||
| How it's actually enforced and what impacts it will have remains to be seen. | ||
| But it is a major shift by the Trump administration. | ||
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unidentified
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And it tasks things like the Joint Terrorism Task Forces all around the country to be looking at these specific targets. | |
| What are the categories? | ||
| I don't have it in front of me, but it's essentially designed, it's groups that they believe are fomenting political violence or, yeah, so sorry, I don't have the list in front of me, but that is the kind of, you know, and Stephen Miller has made a big deal of saying in the wake of some of these incidents that he believes that there is a there are left-wing movements. | ||
| There are these groups behind some of these people. | ||
| And of course, that has not, there's no evidence to support any kind of organized leftist terrorist structure in the United States. | ||
| And the FBI still has to follow the same rules when they're opening criminal investigations, but that's what this is all about. | ||
| You see the polling numbers. | ||
| It doesn't make sense why they would so openly celebrate mass firings. | ||
| At the same time, people like Russ Vogt, I don't know if he's been doing it since puberty, had this vision, but at the same time, they've seen Donald Trump as a vessel. | ||
| This is what their vision is to make the government involve this. | ||
|
unidentified
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2025 and 2026 is their moment, right? | |
| Forget what happens next November. | ||
| This is their window of opportunity the next year, next 13 months, to go and reshape the American government. | ||
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unidentified
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I was told back during the transition, Russ Vogt, he wasn't clear whether he was going to be onboarded, but Vivek Ramaswamy and Elon Musk were big proponents because they saw him as the portal to being able to actually execute the budgetary means to go and do what they knew that they would not be able to do independently through Doge. | |
| They're no longer around. | ||
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unidentified
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Russ Vogt is, and he is the man who is carrying out this vision of the Heritage Foundation, the Center for Renewing America, all of these different right-wing groups. | |
| This is their moment. | ||
| This is the primal scream of a dying regime. | ||
| Pray for our enemies because we're going medieval on these people. | ||
| Here's not got a free shot on all these networks lying about the people. | ||
| The people have had a belly full of it. | ||
| I know you don't like hearing that. | ||
| I know you've tried to do everything in the world to stop that, but you're not going to stop it. | ||
| It's going to happen. | ||
| And where do people like that go to share the big lie? | ||
| MAGA Media. | ||
| I wish in my soul, I wish that any of these people had a conscience. | ||
| Ask yourself, what is my task and what is my purpose? | ||
| If that answer is to save my country, this country will be saved. | ||
| Here's your host, Stephen K. Bannon. | ||
| Okay, it's Thursday, 2 October in the year of our Lord, 2025. | ||
| Vaughan Heryard gives a very good, I think, summary of what's going on right now. | ||
| Russ Vogt is clearly in the line of Project 2025 and CRA, all the groups that work together for the deconstruction administrative state, is, I believe, over in briefing the president. | ||
| And I think that we're going to have some clarity, clarity, and focus on exactly what they're going to talk about these risks. | ||
| And we'll get this to you as soon as we know more. | ||
| But it's a very big and aggressive plan. | ||
|
unidentified
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Also, just some updates on the this morning about the situation at TSA with quiet skies with Dr. Gene Lalouden that we talked about. | |
| Tulsi Gabbard also got wrapped up. | ||
| And I think the TSA official that was in back there got fired. | ||
| I will double check that. | ||
| Also, Julie Kelly's been focused, the Eastern District of Virginia, and with Lisa Monaco is another big breaking story of that. | ||
| We'll get to all that. | ||
| We're going to have Russ Ibitson, if he can work at the technology, the U.S. editor of the Daily Mail. | ||
| Their lead story is about a briefing on Capitol Hill yesterday by senior-level Trump officials, including the Department of War, talking about, and it sounded like kind of the type of briefing you want to do when you don't want to have the War Powers Act enacted on you, but about kinetic conflict with the cartels. | ||
| We're going to get to all that. | ||
| Russ is going to try to join us, Philip Patrick here. | ||
| We're pretty jammed. | ||
| I've asked Megan Messerly from Politico to come on. | ||
| Megan, Jessica, you first were hired by Politico as the national health reporter, and then you segued over, you cover the White House today, correct? | ||
| That is correct. | ||
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unidentified
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Okay, so this is what I want you on. | |
| You've got to make this, try to make this make sense for us because I think we're suffering from whiplash now of what's going on about vaccines, autism. | ||
| So as you know, the Warren Posse, 3,500 people volunteered to go through the Pfizer papers over the years, big maha, make America Healthy Again audience, very pro Bobby Kennedy, really worked on the Bobby Kennedy confirmation. | ||
| Then Bobby gets in there, and then a couple weeks ago, four or five weeks ago, we have the announcement that the $500 million in mRNA vaccine research is cut off. | ||
| Then you have the ACIP. | ||
| I think ACIP happened before that. | ||
| ACIP is, they're fired, and Dr. Malone is put in charge of it. | ||
| Then You have the roundtable that happened down at CDC talking about, I guess, the child, the damage done by the COVID vaccine. | ||
| We've had one series of events, and then President Trump, this historic, I guess, Tuesday, a week ago now, comes into the Roosevelt room and actually out Bobby Kennedy's Bobby Kennedy. | ||
| And we think it's going to be kind of almost a bait and switch because they're talking about Tylenol and we're talking about the whole autism thing. | ||
| And he actually says he's staking his presidency with everything he's doing. | ||
| He's staking his presidency as a success of whether he kind of solves this autism situation. | ||
| I think everybody's sitting there going, this is incredible. | ||
| I mean, he goes next level. | ||
| And then yesterday we have, which is kind of the great Satan here for the war room audience, Pfizer's in the Oval. | ||
| And the next thing you know, I think we're approving mRNA research and Pfizer's getting, they're cutting some drug prices, but they're honored in the Oval Office as a conquering hero. | ||
| Can you just make it make sense for us? | ||
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unidentified
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What exactly, because it looks like at certain times, Bobby Kennedy and HHS is getting tremendous air cover from the White House. | |
| And at other times, it looks like we're going back and working with big pharma like there's no harm, no foul. | ||
| So can you just walk us through what you see covering it day to day as what's going on? | ||
| Absolutely. | ||
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unidentified
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No, and I think that's such an interesting dynamic as you broke it down there, because we really have seen the president at times take these maybe seemingly contradictory approaches when it comes to vaccines. | |
| Obviously, he was the one who was pushing Operation Work Speed, you know, developing the COVID-19 mRNA vaccines. | ||
| And yet we saw him in the Oval last week come out very forcefully in a way that I know surprised me. | ||
| I think it surprised you. | ||
| It surprised a lot of folks in the Maha movement who were just not expecting the president to go there. | ||
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unidentified
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You know, of course, the president sort of has these longstanding, you know, skeptical views of vaccines that he's expressed in the past. | |
| So it wasn't wholly, I think, unusual to see him come out and say those things in the Oval Office. | ||
| But to your point of really, he out Bobby Kennedy, Bobby Kennedy, because you have Bobby Kennedy in there in the Oval saying, hey, we think there might be some concerns with Tylenol. | ||
| Pregnant women should not be taking it because we have concerns this leads to autism spectrum disorder. | ||
| And then you have Trump going in there and just saying, I think the shot should be broken up. | ||
| I don't think you should take the HEPI vaccine until 12. | ||
| mean these are not things that even bobby bobby no no no no hang on hang on hang on hang on hang on no no hang on he He says, and very endearing. | ||
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unidentified
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He says, you got the little baby sitting there and you have that. | |
| Yes. | ||
| He called it that. | ||
| He's a very visceral. | ||
| Yeah, very visceral imagery. | ||
| I mean, the president loves an image, right? | ||
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unidentified
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The image of like the baby being pumped full of vaccines. | |
| He also likes talking about the horse shots, right? | ||
| It's all this very visceral imagery. | ||
| And this is something the president has talked about for a long time, right? | ||
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unidentified
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So no surprise in one sense that he's talking in these visceral terms. | |
| But you have to remember that Bobby Kennedy's own panel of picked vaccine advisors, like you mentioned, with Dr. Malone on it, did not even vote to make these recommendations that the president was making. | ||
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unidentified
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So in some ways, expected, in some ways, out of left field, but I think sort of squares with the president's own belief about vaccines, which is that he said that he likes vaccines. | |
| He has concerns about them being administered all at once, about babies receiving so many shots all at once. | ||
| So I think in my mind, I sort of see it as a breakdown between the timing of the shots versus the shots himself. | ||
| And then also, I think the president's concerned about the freedom of parents to make their own decisions about the timing of those shocks. | ||
| Where do you think we stand right now then with the policy rollout of what we can anticipate? | ||
| Because the president said, I think three or four times in that meeting, he's essentially staking his presence. | ||
| It's so personal to him from friends he knows, et cetera. | ||
| They're staking his presidency on the successful outcome of understanding of autism and vaccines and maybe getting the schedule right, but doing it correctly. | ||
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unidentified
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That is about as high a stakes as you can get coming from President Trump. | |
| So where do you think we stand in this whole thing? | ||
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unidentified
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Yeah, there's, I mean, I think there's a couple really interesting sort of touch points that I'm keeping an eye on. | |
| You know, right now, where we're at this moment, where we're waiting to see actually what Bobby Kennedy and what his acting CDC director, Jim O'Neill, what they do with those ACIP recommendations. | ||
| Of course, they don't actually have to follow them. | ||
| There's not a ton of precedent, though there is precedent for the CDC director to make sort of a different decision than ACIP recommends. | ||
| So now that President Trump has given this air cover, you know, they very well could go in and make recommendations beyond what ACIP said. | ||
| So that's one big thing we're watching for. | ||
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unidentified
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And the second is to see what happens with this vaccine injury compensation program, which is going to be a key thing, I think, for a lot of folks in the Maha movement. | |
| Is the report scheduled to, it hasn't come out. | ||
| The big autism report was supposed to be the 28th, but I think that's still, that's been delayed, correct? | ||
| That's correct. | ||
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unidentified
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Yep. | |
| We had this one Tylenol announcement. | ||
| We expected maybe that we would get more by the end of September, but now we're waiting to see more to come out of HHS. | ||
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unidentified
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We did not get that official report by the end of September, like had been said before. | |
| Megan, how can people follow your reporting? | ||
| Where do they go on social media? | ||
| Where do they go with Politica? | ||
| Yes, we're at politico.com and you can find me on X. I'm just at Megan Musserly. | ||
| Thank you, ma'am. | ||
| Appreciate you. | ||
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unidentified
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Thank you. | |
| The Daily Mail's, The Daily Mail's U.S. editor, a blockbuster story that wasn't really tipped yesterday, but it's the lead story in the Daily Mail. | ||
| I believe it is as close in a formal process that President Trump in the second president term has come to talk about kinetic war. | ||
| There was a briefing on Capitol Hill yesterday. | ||
| I think that was done so they could get around the war power, any imposition of the War Powers Act. | ||
| This is what's happening in the Caribbean and maybe potentially in northern Mexico against the drug cartels. | ||
| With President Trump's administration, his Department of War, being very adamant that we're at war with the cartels. | ||
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unidentified
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And that includes not just economic war, political war, legal, but kinetic. | |
| Lighten things up. | ||
| Short commercial break, U.S. editor of the Daily Mail, next in the war room. | ||
| I got American favor in America's heart. | ||
| Kill America's Voice, family. | ||
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unidentified
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It's totally free. | |
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| Okay, the Daily Mail is the largest, I think, paper in the world. | ||
| It's the most read website. | ||
| They have a massive U.S. operation plus UK in the world. | ||
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unidentified
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It's something we go to a lot because they're very quick at breaking important news. | |
| And you can kind of tell by the traffic they get on certain stories what drives the news cycle and what doesn't. | ||
| I'll be honest, kind of a shocking story today, a scoop that gotten from Ross Ibbotson, the editor, U.S. editor of the Daily Mail. | ||
| This headline, is the story that the senior executives from the Department of War went to Capitol Hill yesterday with others to brief Congress on what they're calling a beginning of a kinetic war against cartels, and those cartels would be from South America, basically, seems like Venezuela, all the way up through Mexico. | ||
| Is that what you're reporting showing? | ||
| Correct, Steve. | ||
| We're reporting that they've declared war on these drugs cartels, and they are citing international war, calling it a non-international armed conflict, which basically says these are non-state actors, but we're at war with them because they represent a deadly risk to United States citizens. | ||
| So this would not be something I would think that the Trump administration, given the way they're rolling on their interpretation of Article II powers, which we're a huge advocate of, the very aggressive President Trump's approach on Article 2, on his Article 2 powers, particularly as commander-in-chief. | ||
| Was this requested by people on the Hill? | ||
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unidentified
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Did Pete Hexeth and these guys volunteer it? | |
| Did Stephen Miller volunteer it? | ||
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unidentified
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I mean, how did this even come about? | |
| Well, that's not actually clear yet. | ||
| The White House hasn't responded to my request to comment on that yet. | ||
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unidentified
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But it does follow complaints by Democratic and also some Republican lawmakers that these strikes require the ascension of Congress under the War Powers Act, although that has been ignored on numerous occasions before, including by Barack Obama in Libya and Bill Clinton in Kosovo. | |
| But yes, it does appear that the Trump administration is trying to provide an ironclad legal framework where they can push forward with this military action basically against the cartels from South America. | ||
| And this, I guess, was driven by the fact that we do have an amphibious readiness group in the Caribbean off the coast of Venezuela, and we have 4,000 fleet Marines that are there. | ||
| Is that what drove this? | ||
| Plus, they've taken out, I think, three different vessels now over a period of a couple of weeks. | ||
| Is that what the primary concern was and why they went in there and wanted to get ahead of this? | ||
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unidentified
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Yeah, I think so, because Congress has been raging about the, as you say, the three strikes last month, all of them deadly. | |
| One of them was against Trendo Aragua. | ||
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unidentified
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The other two weren't specified. | |
| And in their memo to lawmakers today, it didn't specify any particular terrorist organization. | ||
| We're asking for clarification on that. | ||
| And it doesn't name Venezuela either. | ||
| I suppose they're concerned that they would be concerned about naming Venezuela. | ||
| They obviously don't want to get drawn into a broader conflict here. | ||
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unidentified
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But as we know, Trendo Aragua is the notorious cartel which took over apartment buildings in the U.S. | |
| So certainly seem to be using force on American soil, although Democratic lawmakers say that the trafficking of drugs doesn't constitute use of force so they've said, hey, it's Venezuela, but they're not quote-unquote going after Venezuela. | ||
| They're going after a drug cartel that's a non-state actor. | ||
| We're at war with these non-state actors, whether it's Trende Aragra in Venezuela or the Sinaloa cartel in northern Mexico. | ||
| But we're going to war, and in this case, Kinetic, against these drug cartels. | ||
| Is that essentially the case that the Trump administration is making? | ||
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unidentified
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Exactly, yeah. | |
| They're not singling out any particular cartel, but they're saying that because fentanyl is so deadly, it kills thousands of Americans, that they're justified in their use of basically wartime deadly force against these groups. | ||
| Now, they said that they previously called it self-defense, but this memo to Congress appears to go further where they're saying these attacks on the boats are not isolated, but they're consistent with a sustained act of conflict. | ||
| And they say that because these groups are so sophisticated, they're so well armed, that they're able to act with impunity without the use of military force. | ||
| So, as we've seen, they've been using drones to carry out these strikes, much to the annoyance of the more liberal lawmakers on Capitol Hill. | ||
| So, Rick Rinnell and Marco Rubio, Secretary of State Rubio, have kind of been at this with Brunel basically positing there's a diplomatic way or negotiated way, particularly around the resources down there and American companies and involvement to get around this. | ||
| What is your reporting show you that how much of this was driven by Marco Rubio, Secretary of State, who seemed to take a big interest in this and is on Fox all the time, I think, kind of teeing up like you teed up the Iraq evasion, teeing up an actual military invasion of Venezuela. | ||
| How big a part of this briefing was either Marco Rubio or his deputies over the State Department? | ||
| I'm not sure as to what Rubio's involvement would have been in it, to be honest, Steve. | ||
| I don't have that. | ||
| Did you get any feedback? | ||
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unidentified
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The White House has not commented on this. | |
| What feedback did you get? | ||
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unidentified
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Although, in not coming on, they haven't come out and denied it. | |
| What feedback are you getting from Capitol Hill about the presentation itself? | ||
| Well, the White House didn't get back to us, but they have reiterated their position, I think, to the New York Times, and they're saying that this is in line with the law, but pretty vague. | ||
| I kind of get the sense that some of them were caught a little bit by surprise today, and they weren't exactly abreast of what the Pentagon was doing on Capitol Hill yesterday. | ||
| But yeah, that remains to be kind of to be worked out, still trying to piece that together. | ||
| I'm not really sure. | ||
| Ross, where do people follow you? | ||
| We always send people to the Daily Mail every day, but where do people, this story is very big, and it's quite controversial. | ||
| There are not an insignificant amount of the MAGA movement that's saying, hey, hang on, we got to take care of the drug cartels. | ||
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unidentified
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Maybe fentanyl is coming up more through Mexico, and we ought to be taking care of the Mexican cartel and their partners in the Chinese Communist Party than down in Venezuela worried about cocaine in Madura. | |
| So this is going to be very controversial, not just between Democrats and Republicans or between the House and the White House, but also internally to the MAGA movement. | ||
| Where do people go? | ||
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unidentified
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What's your social media? | |
| Where do people go to follow this more? | ||
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unidentified
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So obviously dailymail.com, but also just by searching my name, Ross Ibertson, on Twitter and Instagram as well. | |
| Thanks very much, Steve, for having me, by the way. | ||
| Ross, thank you so much. | ||
| Keep Daily Mail as a must-read every day. | ||
| This is why I think yesterday was so, it was historic, obviously, in the fact that everybody came together, every flag officer came together, which we've never done since the founding of the republic. | ||
| It wasn't, and Pete's talk at the beginning, I think, was necessary and had to be done, and obviously very serious, a different, and particularly his focus on the, was it, ferocity and precision, the way the American military is going to fight wars and win wars. | ||
| We're not in this just to play patty cake or play defense or, as President Trump said, no games. | ||
| But I felt that the president's speech, and the president covered a number of topics there, and obviously his haters were very critical, although I thought it was a historic speech. | ||
| I thought it was a historic speech because the buried lead had to deal with what happened in Portland last night with the National Guard, what happened in Memphis yesterday with the Attorney General, the Secretary of War, and President Trump's chief advisor on domestic policy, Stephen Miller, who's also very involved in national security because now comes here, President Trump's saying, hey, we got to worry about the evasion here, enemies within, that the military is going to be called out for under emergency measures. | ||
| Part of that's obviously this war against the cartels, which we've advocated very strongly for from the beginning. | ||
| In fact, when they sent the troops down to secure the southern border, which they've done so magnificently and needed to be done for years and years and years, we said, remember they had the 10 or 15,000 back in, I think, April and May. | ||
| We felt at the time that'd be a perfect time to put Mexico on notice and go do a kinetic strike with the labs, particularly the fentanyl labs, which are just sitting there in northern Mexico as easy targets. | ||
| They did have, I think it was CNN, had one of the cartel members on for an interview last night. | ||
| He said, hey, it is so much harder to get drugs here or human trafficking now that President Trump's in charge. | ||
| I mean, they admitted it's tough. | ||
| They would seem to be the likely targets, right? | ||
| Because particularly, they're actively in business with the Chinese Communist Party on the fentanyl trade. | ||
| Now, in Latin America, you know, Maduro is a bad guy. | ||
| The people around him are bad guys. | ||
| But when you have an amphibious readiness group down there, that's a different level. | ||
| I mean, that is like big-time kinetic warfare. | ||
| You got 4,000 sailors and Marines. | ||
| You got a bunch of fleet Marines. | ||
| You got people ready to go hit the beach if necessary. | ||
| And of course, yesterday, and we still don't know Ross's thing, I think he said it was, you can imply that people on Capitol Hill are nervous. | ||
| And President Trump wants to make sure that there's no coming and trying to chop block, going to court to stop this. | ||
| He wants to get ahead of it. | ||
| And so huge news that they basically said we have declared war on the drug cartels from Latin America, it looks like, all the way up to Mexico. | ||
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unidentified
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And you heard Pete Hegseth tell him, when we go to war, we go with a ferocity and precision to go in and fight it and end it. | |
| So people should, I think, stand by for some kinetic activity around the war on the cartels. | ||
| I want to thank Ross Ibotson and the Daily Mail for joining us. | ||
| Short commercial break. | ||
| Philip Patrick, gold is on fire. | ||
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unidentified
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The question is, why is it on fire? | |
| Next in the War Room. | ||
| Here's your host, Stephen K. Bannon. | ||
| You heard today 21 of the gross number of seats that we need to change in redistricting. | ||
| The great Alexis DeGrass walked us through this. | ||
| I want to thank the Patriot Mobile guys to kick off of the 21, we've already got five. | ||
| That's Texas. | ||
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unidentified
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And we got to stop. | |
| We've got to stop California. | ||
| They're five. | ||
| But five are already there. | ||
| Should have been eight, but we got five. | ||
| Would have had none if Patriot Mobile hadn't organized things, their political side. | ||
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You know, they have your back. | |
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You get a free month if you say you came through Bannon or the war room. | |
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unidentified
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So I think I had you on here last time, Philip Patrick. | |
| Gold was at 37. | ||
| I'm just kidding. | ||
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unidentified
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What you did, though, in the Saturday show, I've gotten tons of feedback, and I want to go back through that. | |
| And here's the reason: as we've been covering this with you for four years now, at the end of the dollar empire and the pressure on the dollar, the budget deficits, all that. | ||
| Gold was at $1,100 today through $3,900, but every day kind of goes up, backs off a little bit, then goes up some more. | ||
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unidentified
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I tell people it's the process, not the price. | |
| You brought up something last week about the central banks, particularly given, and folks, this is always driven by war. | ||
| Given the economic warfare component of the war with Ukraine and Russia, that the $350 billion in assets that essentially the West is going to steal because France and Germany and England don't, and Italy don't have any money to put up for Ukrainian defense. | ||
| And Zelensky's talking about 90 to 100 billion dollar arms deals. | ||
| They're going to take the Russians' money that were in these money-centered banks, and it's basically all in Euro. | ||
| That the central banks now are saying, well, hang on for a second. | ||
| Should our reserves just be Euro or dollars, or maybe we should add something? | ||
| And they're adding gold. | ||
| And this is one of the reasons they're buying at record rates besides the bilateral trade deals you talked about on the de-dollarization movement. | ||
| I've got an article. | ||
| If Mo and Grace can get it up, there's a Bloomberg article that mentions the fact I think there's 17,000, is it 70, 17,000 hedge funds in the United States, and there are only 14,000 McDonald's. | ||
| There's more hedge funds than McDonald's. | ||
|
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One thing I can tell you, knowing a bunch of hedge fund guys, and they never did this in the past, part of the money that they, because they draw down, they don't get all the cash from people. | |
| They raise a billion dollars. | ||
| You don't get the billion dollars. | ||
|
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You do it on calls on deals. | |
| They're putting a bunch of their kind of reserves or what they're sitting on in gold. | ||
| Hedge funds, and particularly as they multiply so much, there's only so many investment opportunities. | ||
| They're buying gold and sitting on that. | ||
|
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And of course, it's had a historic run. | |
| This is another fundamental structural change potentially to the demand side for gold. | ||
|
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Philip Patrick, your thoughts? | |
| Yeah, I mean, there was a lot to unpack there. | ||
| So, first of all, as you rightly point out, what we've been doing, and it was predominantly the previous administration, you mentioned weaponizing our dollar against Russia. | ||
|
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We have disincentivized the world through policy to hold the dollar through weaponizing it against Russia. | |
| If I'm China, that's a concern to me, right? | ||
| I want to diversify, but also through devaluation of currency as well. | ||
| One of the benefits of the U.S. dollar relative to other currencies was stability. | ||
| It was that, along with the petrodollar, that cemented our position as global reserve with huge money printing, massive quantitative easing. | ||
| That stability argument's gone out the window. | ||
| And I think the world are waking up and de-dollarizing at a rapid pace. | ||
|
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And it is not slowing down at all. | |
| Gold buying set another record for the third quarter of this year by central banks on the back of a six-month record in the first six months of this year. | ||
| As we've said on the show, we mentioned on the Saturday show as well, gold has now become the number two global reserve asset. | ||
| It's 20% of global reserve currency today. | ||
| It takes up a larger share than U.S. debt, which we haven't seen in a long time. | ||
| But as I mentioned, I think this is a trend that's going to continue. | ||
| I think we're reverting back to where we used to be in the 80s, where gold was about 70% of global reserve. | ||
| Ultimately, I think the trust has been broken and it's just one drama after another after another. | ||
|
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Now we have a government shutdown. | |
| I mean, trust has been broken and the world's waking up. | ||
| Do you think this, the 80s is one to kickoff for massive globalization? | ||
| Do you think this is a leading indicator that we're going to live in a post-globalization world with supply chains, everything that people are going to be, as we've been advocating? | ||
| I mean, we're a huge advocator of it. | ||
| But is this gold now going back and looking like it could be, I mean, 20% is shocking, I think. | ||
| But do you think it could get to 30%, 40%, 50%? | ||
| I think not only it could, I think it will. | ||
| The trajectory, look at something dramatic is going to happen domestically to make the dollar look attractive again. | ||
| It's going to take a miracle, right? | ||
| Right now, I just don't see it on the horizon. | ||
|
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So where does it end? | |
| I don't see China reverting back to trading in U.S. dollars again. | ||
| I don't see Russia, sorry. | ||
| I don't see China increasing dollar reserves. | ||
| I see them reducing significantly. | ||
| 50% of China's transactions now internationally bypass the dollar. | ||
| They are in yuan. | ||
|
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That was unheard of. | |
| So yes, I think this is a trend that's going to continue. | ||
|
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And you rightly point out, I think what we've been seeing, this has been happening for a while, but the end of this sort of post-World War II era of globalization. | |
| And I think when the trust disappears, trust in money disappears, central banks turn back to gold. | ||
| And as you rightly point out, we're seeing things that we just would never have predicted a few years ago. | ||
| Huge institutional demand, not only from central banks, but from investment firms, from PE funds. | ||
| They weren't looking. | ||
|
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They were looking for returns three, four, five years ago. | |
| You didn't consider gold for that. | ||
| Today you do. | ||
|
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So you put it as a structural change. | |
| And I think it's the best way to put it. | ||
| A reversion, perhaps. | ||
| How do people work? | ||
| Now, we've got end of the dollar empire. | ||
| We're coming at, we got seven free installments. | ||
| We're doing a physical copy of it. | ||
| We're going to do hopefully some events this fall. | ||
| We're coming out with eight and nine really off eight is going to really be off your guys' reporting of the real reset and the and the bilateral deals. | ||
|
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What do you tell people now when they come and say, hey, I've never done physical gold before. | |
| You know, I'm not a gold bug. | ||
| And I keep saying Ray Dahlia, Steve Bannon, and Philip Patrick and I are gold bugs. | ||
| I was never, I mean, I was came out of Harvard to Goldman Sachs. | ||
|
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If you talked about gold, they thought you're a wingnut, right? | |
| Investment banking in the 80s, 90s, and the double oughts were all about globalization, all about maximization of shareholder value. | ||
| And gold was looked at as an archaic relic from a time gone by, right? | ||
| From a time gone by. | ||
| And now it's such a key asset for central banks. | ||
|
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And that asset, that asset shift, particularly reserves, is not just shocking, it's a wake-up call. | |
| And people ought to focus on that. | ||
| So what do you tell clients when they come to you today? | ||
| Because I want to make sure as many people, we never tell you to buy gold here. | ||
|
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Okay. | |
| It's not our job to do that. | ||
| What we try to do is give you access to information so that you can learn yourself what the pattern recognition is. | ||
| But what are you telling people now when they come to you? | ||
| How should they think about this? | ||
| First of all, the end of the Dollar Empire series, I don't think has ever been as pertinent as it is today. | ||
| So first of all, everybody needs to read that. | ||
| Then they're going to have an understanding of why we have the bubbles we have, why the debt has exploded, how the Federal Reserve are culpable. | ||
| That's going to give them an understanding of the big problem. | ||
|
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Debt, deficit spending, borrowing costs. | |
| In understanding that in the context of history, I don't need to tell anyone to buy gold, right? | ||
| They just need to understand the issues. | ||
|
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And I think ultimately they'll lead themselves there. | |
| So contact us. | ||
|
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It's birchgold.com forward slash bannon. | |
| Get the information. | ||
| Read it. | ||
| If you need anything from there, we're here. | ||
| Call us. | ||
|
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You'll have people like myself that are there to guide you through, explain everything. | |
| But you have to get reading. | ||
| It has never been more important than it is today, ever. | ||
|
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So Birchgold.com forward, Slash Bannon and just immerse yourself in the information, because if you do and if you can understand it, the solutions will present themselves. | |
| You know, we just had Ross Ibbotson, the editor, the U.s editor for Daily MAIL, and you could tell a pretty button-up guy's hair is not on fire. | ||
| When they're reporting that uh, the Trump administration is on the Hill to kind of make sure they're ahead of any kind of claim of the War powers act. | ||
| But they're saying we are in a kinetic war with the cartels and we're going to ramp it up. | ||
| Uh, that tells you that geopolitically uh, we live in an age of uncertainty. | ||
| Now, president Trump's mindset is, i'm going to take care of this now, i'm not going to wait. | ||
|
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We're not kicking the can down the road. | |
| People have bs us enough. | ||
| The only thing they understand is force and i'm going to deliver it. | ||
| But I will tell you the geopolitical risk, when you look at the risk calculation, uh increases every day as president Trump tries to change the the, the global commercial relationships right, and also geopolitically right. | ||
|
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These kinetic wars on the Eurasian landmass, now you got them here in the Western Hemisphere folks. | |
| Uh, you know, we don't know how this is going to turn out. | ||
| President Trump, I think, has a very well thought through plan, as we try to reiterate every day, but the law of unintended consequences. | ||
| That's why the geopolitical risk uh Philip, on top of what's happening in The world's capital markets and financial markets about the attraction of gold, part of that is not just the weaponization of the U.s dollar right of which, by the way, i've been an advocate of, if done smartly right. | ||
|
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But I think some of the nations of The world are saying hey, we want to be out of the American sphere, we don't trust Maga, we don't trust Trump, we just don't trust the Americans overall. | |
| The other is this situation now with the cartels, when president Trump goes to Capitol Hill and makes a detailed presentation and basically tells them, we're at war, we're at kinetic war, we're not going to tone it down, we're actually going to ramp it up. | ||
| That's when I think people got to sit there and go, okay uh, maybe i'm looking for a hedge for times of financial turbulence for a while, because it's not going to get less turbulent. | ||
| You saw that in Portland last night. | ||
| You've seen this in the presentation we covered live in Memphis, Tennessee. | ||
| You heard today about this talk in Chicago. | ||
| And now we know on Capitol Hill they're going to war with the cartels, or according According to the Trump administration, we're at war already with the cartels. | ||
| Philip Patrick, leave you on geopolitical risk. | ||
| Thank you for being with us. | ||
| Where do people go one more time to get you, sir? | ||
| Really simple. | ||
| Birchgold.com forward slash Bannon. | ||
| Again, birchgold.com forward slash Bannon, or they can reach me at Philip Patrick on Getter. | ||
| Thank you, sir. | ||
| Appreciate you. | ||
| Thank you, sir. | ||
| Great sponsors. | ||
| Allowed us to do, they're such great guys, allowed us to do the entire Charlie Kirk 10 or 11 hours without commercial interruption. | ||
| I don't know if we can talk about it yet. | ||
| I'm looking at my producer. | ||
| I'll find out during the break. | ||
| If everything comes together, we're going to have a very special, we're going to have a very special war room presentation with Real America's Voice for, I think, our third Sunday in a row. | ||
| I guess we skipped the sun. | ||
| We had the memorial service at the prayer vigil at the Kennedy Center for Charlie Kirk. | ||
| Then the following week, we had the amazing memorial service. | ||
| This Sunday, from 10 a.m. Eastern Daylight Time to 5 p.m., I'll be hosting a special on Real America's Voice here for those seven hours dealing with the 250th essentially anniversary of the birth of the United States Navy. | ||
| President Trump is going to actually go participate, I think, in some naval exercises off the coast of Virginia. | ||
| And I can tell you, I think they're going to be amazing. | ||
| So we've got Jack Pasovic is going to be involved in this. | ||
| We've got the entire Real America's Voice team. | ||
| Of course, the war room. | ||
| I'm going to have all folks from the Navy, national security experts. | ||
| You do not want to miss this. | ||
| From 10 a.m., starting at 10 a.m. Eastern Daylight Time, Sunday, not our Saturday show, our Saturday show will go on as is, all the way until 5 p.m., the President of the United States is going to go to Norfolk, Virginia, my hometown, I guess where I was born. | ||
| I guess my hometown's Richmond, where I was born, right near the naval base in Norfolk, in beautiful Ocean View, Virginia. | ||
| President Trump's going to go there. | ||
| He's going to go out to the fleet. | ||
| He's going to spend the day, early part of the day afternoon with the fleet in fleet operations. | ||
| Then he's going to come back and address a crowd and talk about the United States Navy and his 250th birthday. | ||
| We're going to be here live for the entire thing. | ||
| 10 a.m. to 5 p.m. on Sunday. | ||
| Be here with us. | ||
| Let's take down the CCP. | ||
| Here's your host, Stephen K. Bass. | ||
| I also want to go back and talk about President Trump and what he's taken on. | ||
| I mean, it's seven days a week. | ||
| Charlie Kirk flies out, does that great speech. | ||
| He sits there and watches everybody, watches the event, was there for at least half of the event, flies back, don't get back to the middle of the night. | ||
| Next day, hitting it. | ||
| Next day, I think they had the Bobby Kennedy situation. | ||
| Just every day, it's the scale of it, the urgency of it, and the scope of it is unprecedented. | ||
| Even journalists I know that are not fans of his are saying there's never been a presidency like this in nine months, ever. | ||
| This is more intense than FDR's, much more intense, not just because of social media. | ||
| What he's doing is so monumental. | ||
| Is all of it perfect? | ||
| No. | ||
| Do you love all of it? | ||
| No. | ||
| But the 90% that you love is just, it's unprecedented. | ||
| Now, this naval exercise, this is another thing. | ||
| All day Sunday, he never takes a day off. | ||
| Remember, he doesn't drink. | ||
| He's never done drugs. | ||
| He basically works. | ||
| This is one of the things I was most impressed when I first got to really know him and work side by side or work for him. | ||
| It is one of the most intense work experiences you'll ever see. | ||
| He is always on. | ||
| And these aren't small problems. | ||
| Remember, any tiny problem, any solvable problem, it doesn't get to the Oval Office. | ||
| What he's doing now is Herculean. | ||
| It's every major massive issue in this country and in the world, changing the world order. | ||
| He is. | ||
| The post-war international rules-based order will never revert back to the globalization. | ||
| Are the globalists still going to fight us? | ||
| Are they still going to? | ||
| Yes, yes, yes, yes, yes. | ||
| It's never, it ain't over until it's over. | ||
| But what he's doing, then when they came to us the other day and posto is going to, and I said Sunday, and I love it. | ||
| It's so great. | ||
| It's such a way to honor the Navy. | ||
| They're doing it a little short of the 250th anniversary, but it's just so amazing. | ||
| And this is the way he thinks. | ||
| He wants to do something special. | ||
| He wants to honor the Navy and the traditions and customs of the Navy. | ||
| And as you know, the Navy and the Marine Corps are so custom and tradition because it came kind of from, we were sprung from the Royal Navy, people that had, you know, been associated with it. | ||
| And the customs and traditions there and the Royal Marines, the same way. | ||
| That's why the United States Marine Corps and the United States Navy are the way they are. | ||
| And for him to take an entire day and no rest, and this is going to be incredible. | ||
| And he's in the middle of it. | ||
| And I think that his enemies sit there and criticize him, but they're overwhelmed by it. | ||
| One of the reasons they can't stop it, it's a force of nature. | ||
| It's a force of nature. | ||
| I'm telling you, like General Washington and Lincoln, and I say this not as a Trump guy and work for Trump and MAGA guy, it's not that. | ||
| It's the cold observance of history. | ||
| He's the third in line of the great world historical figures. | ||
| We had people say, well, you got to include FDR on that. | ||
| I don't. | ||
| Those three are a different level. | ||
| General Washington at the birth of the nation, Abraham Lincoln at the rebirth of the nation, and President Trump at the rejuvenation of this country, in the salvation of this country, of what we had, a constitutional republic, based upon the values of the Judeo-Christian West and really an American civilization. | ||
| That's what he's fighting for. | ||
| And he's leaving it all in the field, all of it. | ||
| I've never seen anything like it. | ||
| If you look at the pressure, you look at the intensity, look at these issues. | ||
| I mean, on an off day, he's negotiating, an off day for him, he's negotiating the government shutdown with clowns like these, like Hakeem Jeffries and Schumer. | ||
| I mean, come on, it's a clown show. | ||
| Unbelievable. | ||
| So all day, 10 a.m. to 5 p.m. on Sunday, and it will be so special. | ||
| You're going to want to see it. | ||
| Of course, we're going to tee it up on Saturday, the Saturday. | ||
| So it will be Jack Pisobic will be with the president, and I'll be anchoring the broadcast, and we're going to have tons of guests. | ||
| You're not going to want to miss it. | ||
| Plus, I think you're going to see some guns, some missiles, some jets. | ||
| I think we're going to have some activity. | ||
| President Trump's going to basically do Teddy Roosevelt, go review the fleet. | ||
| And it's just incredible. | ||
| I couldn't be prouder. | ||
| Mike Lindell. | ||
| Brother, people are so impressed when they sit there and go, Mike, if you could grovel and go to Systematic and say, hey, I didn't mean it. | ||
| I was just kidding. | ||
| And they would say, fine, no harm, no foul, let's move on. | ||
| You're not going to do that, are you, sir? | ||
| Under these voting machine companies and this law affair that's been weaponized against my pillow and myself more than anyone out there other than our great president. | ||
| By the way, Steve, with our president, I tell him all the time, everyone loves our president. | ||
| Some just don't know it yet. | ||
| And I will tell you this. | ||
| Our president, he might not sleep much, but when he does, it's quality. | ||
| He loves the my pills and he loves the my pillow sheets. | ||
| And I'll tell you, the quality sleep is where it's at. | ||
| And you can all get that with my pillow. | ||
| You guys, we have the specials for the war room posse. | ||
| So many of these are exclusive. | ||
| And we have our three-in-one sale. | ||
| You guys get these once at once. | ||
| These are about three quarters gone. | ||
| There's towels that all came in. | ||
| We waited two months to get six-piece towel sets that actually work. | ||
| Remember, all my pillow products are 60-day money-back guarantee and 10-year warranty. | ||
| You have the best towels ever, $39.98, normally $69.98. | ||
| You have the MyPillow premiums, the lowest price in history, $17.98 for the Queen, $19.98 for the King. | ||
| And then you have the Percale sheets that we're closing out at $29.88, any size, any color. | ||
| We're liquidating those. | ||
| Once they're gone, they're gone for good. | ||
| But go to mypillow.com forward/slash war room. | ||
| You guys, there you're seeing the beds made in the USA, my great employees and the mattress toppers. | ||
| You can get those shipped for free, 100% for free, right to your front door. | ||
| And then you've got the my crosses. | ||
| Everybody's asking for them. | ||
| The women's are back in stock. | ||
| We have the men's and women's my crosses, 50% off, made in the USA. | ||
| You guys use that promo code war room. | ||
| Call my operators, they're downstairs. | ||
| Mom and dad's working from home, also. | ||
| You get to operate it right here in the USA: 800-873-1062. | ||
| They love talking to you all at the war room posse, promo code warroom. | ||
| And Steve, I can't thank you guys all enough. | ||
| You've keeping my pillow employees as we fight these lawfare against us. | ||
| You keep them with the comfort knowing that the war room's got their back. | ||
| Support my pillow by going and checking out their great products. | ||
| They sell themselves. | ||
| Mypillow.com, promo code warrant, the most powerful promo code in the business. | ||
| Mike, we'll see you tomorrow morning at 10 o'clock in the 10 o'clock hour, or maybe the 11 o'clock hour. | ||
| Stick around. | ||
| Peter McIlvini from Hearts of Oak and our own Ben Harnwell from Rome are going to join us. | ||
| England, the mother country of the United States, slides to civil war. | ||
| Is it inevitable? | ||
| What can be done to stop it? | ||
| And what lessons does it have for the American Republic, the rebellious colony that split off from 250 years ago? |
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