All Episodes Plain Text
May 1, 2026 - Bannon's War Room
48:55
Episode 5341: Bringing American Manufacturing Back On Shore

Stephen K. Bannon, Dr. Peter Navarro, Eric Bowling, and Dr. Bradley Thayer dissect high mortgage rates and manufacturing trends, with Navarro condemning Jerome Powell's alleged incompetence and demanding his resignation by May 15, 2026. The group analyzes misleading GDP figures versus the ISM index to highlight onshore manufacturing renaissance under Trump's tariffs, while Bowling details the Iran conflict's 60-day duration triggering the War Powers Act and threatening global oil prices. Thayer evaluates strategic options against CCP leverage in Taiwan and Xinjiang, concluding that domestic political battles over redistricting and Sharia law bans underscore a broader struggle to secure American economic sovereignty amidst international instability. [Automatically generated summary]

Transcriber: CohereLabs/cohere-transcribe-03-2026, WAV2VEC2_ASR_BASE_960H, sat-12l-sm, script v26.04.01, and large-v3-turbo
Participants
Main
e
eric bolling
05:23
p
peter navarro
admin 08:18
s
steve bannon
r 20:25
Appearances
b
bradley thayer
04:44
j
john berman
cnn 00:53
m
mike lindell
r 02:06
n
nic robertson
cnn 01:43
|

Speaker Time Text
Fed Independence Crisis 00:14:14
peter navarro
Memo to the Fed.
Mortgage rates remain too high because of the stupidity and partisanship of a Federal Reserve chairman who needs to get the hell out of Washington, D.C. when the clock strikes midnight on May 15th.
We cannot be reminded too many times that Powell's Fed committed three major blunders that have cost America jobs, growth, and tax revenues.
Those blunders, raising rates too early and too fast, And Trump turned one, raising rates too late and too slow as the Biden hyperinflation began to take hold.
And now, lowering rates far too slowly, even as the data screams to do otherwise.
As the bard might say of Powell's mid spring nightmare, get thee gone.
steve bannon
Dr., it's Friday, 1 May, year of the Lord 2026.
Dr. Peter Navarro joins us.
That was Dr. Navarro and those amazing videos he puts up.
So, I want to start.
I'll start here because we played your video to open it up.
And then I'm going to get into some of the economic numbers, particularly on the manufacturing side.
We had the great John Gardner on last night for about 30 minutes and walk through this in detail this kind of manufacturing renaissance you're starting to see the green shoots of because of our tariff policies, the big, beautiful bill, the incentives coming from a supply side, tax cut, and deregulation, all three of those converging to have really, I think, the beginning of amazing results.
But since you're there, and by the way, Eric Bowling's with us, and Dr. Theo's going to stick around.
We're going to talk straight over Moose, Persian Gulf, oil, the economy, and I guess basically the alternatives President Trump came out with yesterday in discussing where we go forward on the Iran war.
But let's go back.
Since Navarro went there, let's go there.
Dr. Peter Navarro, pal, Has responded to, I guess, I don't know if pressure or whatever it was with Gene Pirro or what he thinks is an affront to him by basically telling the administration, hey, look, I'm going to step down as the head of the Federal Reserve and Warsh is going to come in here, but I'm going to stay as a governor and I can cause a lot of trouble there because, first off, Mirren's got to go back.
The chairman of the Council of Economic Advisers has to go back to the EOB.
And I've got a lot of people here that support me.
And you may think you're going to have an quote unquote independent Fed with Warsh, but I got something to say about that.
And Dr. Navarro, you can huff and you can puff and you can try to blow his house down, but about too late, Powell is dug in and he's got his trenching tool and he's digging deeper, isn't he, sir?
peter navarro
Steve, you have to go back to 1948 for a Fed chair to stay on the board.
And in that case, it wasn't controversial.
The guy was actually competent.
Powell is arrogant, prissy, unqualified, petty, vengeful.
Pick your word.
He does not belong on the Fed.
And here's what pisses me off and why I did that video, Steve.
Anybody in the media, anybody in the legacy media who defends Powell on the basis of him being competent, Does not understand the enormous damage Jerome Powell has done to America.
The case against Powell's competence is unequivocal, Steve.
Even the Federal Reserve itself has published studies that show in Trump's first term, Powell raised rates prematurely and choked off significant growth.
In Biden's term, unequivocally, he unleashed the worst hyperinflation since the 1970s that we're still seeing.
Grappling with that's on his plate, sir.
And right now, since Donald Trump has gotten in office, and we're approaching two years now, Powell has kept rates too high, not lowered enough again, causing tremendous, tremendous damage.
It's slower growth, it's lower real wages, it's higher debt, it's higher interest rates because of that debt, not just because he won't lower them.
And that SOB needs, as I said.
Quoting the bars, get thee gone for the country.
Now, one other thing, Steve, he wants to be the shadow Fed chair.
steve bannon
That's what he's going to be the shadow Fed chair.
Not that he wants to be, he's going to be the shadow Fed chair, sir.
Is he not?
This is one of the most egregious throwdowns I've ever seen in American financial or economic history.
And folks, it's going to have a direct impact on you.
Let me just go back to the history.
And I don't want to.
You know, but I will say when this thing first came up in the first term, it was Dr. Navarro and Stephen K. Bannon and some other folks who are saying, Hey, maybe Kevin Warsh or John Taylor are your pick.
And of course, then Secretary of Treasury Mnuchin.
No, it had to be Powell.
It had to be Powell.
So we've seen this disaster.
And that's why Powell's not leaving.
He thinks he's got a point to prove to counter exactly what you said now.
And all the things are most egregious because even what he did in Trump's first term.
Because the policies were correct, he could not slow down the Trump economic train as it really started revving up in the fall of 2019 when everything came together.
The only thing that chop blocked us was the Chinese Communist Party's bioweapon coming out of the Wuhan lab, as referred to as the pandemic.
But the most egregious thing he did was the cutting of rates for Joe Biden and the Biden regime in 2024 to try to juice the market.
So that Biden could point to better economic indicators.
Correct, Dr. Navarro?
peter navarro
That's destabilized the entire global economy and financial system by what Jerome Powell did.
And again, I ask every SOB in the legacy media who somehow thinks that Powell's going to be some bastion of Fed independence and has done a competent job.
Look at the friggin' record.
Any journalist who says that that guy.
Is competent to serve, is not competent to be a journalist covering financial matters full stop.
And that guy is going to try to command a bunch of liberal Fed people, pro Biden people.
Steve, the irony here is that the complaint is that Donald Trump is trying to take away the Fed independence when it was Powell that prostrated himself on his knees to get reappointed, that basically gave that away to begin with.
steve bannon
Where's the media outcry from the financial media?
Where's the Wall Street Journal and the Financial Times of London and Bloomberg?
Because all they talk about is the independence of the Fed, independence of the Fed, and Trump's.
Warsh is as independent as you're ever going to get, but he can't be independent because a Fed chair who should ride off into the sunset is going to remain, and he's going to remain.
And his arrogant response the other day I will remain as long as I think it's necessary, right?
He's clearly going to try to challenge Kevin Warsh's independence at the Federal Reserve.
Is he not, sir?
peter navarro
We have never, Steve, in the entire history of our republic, had a Federal Reserve that is embarking on a road of partisanship and conflict in ways which will derail proper Fed policy, full stop.
And that's on Jerome Powell.
And he knits, he gets thee gone, Jay.
Get out of here.
The joke was like when I was watching him, by the way, let's make note Mnuchin's.
You know why Mnuchin, Steve, wanted Jay Powell?
It's the biggest irony.
Mnuchin thought he could control him.
And as soon as Powell got in there, he stuck the knife in Donald J. Trump.
steve bannon
That was the biggest.
peter navarro
This is just wrong.
And I would appeal to the Wall Street Journal, to Bloomberg, to the Financial Times, to the folks on the New York Times, the Washington Post, who believe somehow that they're.
Qualified financial reporters look at the friggin' record and tell him he needs to leave because not for any political reasons, but simply because he is not competent to serve.
Period.
This is a big crisis, Steve.
We don't need this now.
It's the last thing we need on top of everything else.
steve bannon
It's a very big crisis, particularly as we now have this turnaround that's pretty evident.
Let's go to that, Dr. Navarro.
I want to talk about this chart that came out yesterday.
Can we put that up?
About these are imports of capital goods, right?
Imports of capital goods.
And this is a good indicator that we're bringing capital goods in to make, to basically expand our manufacturing base.
Can you walk our people through it?
peter navarro
See, this is a good example of how the mainstream media invariably gets these daily reports on the economy wrong.
I'm doing columns now for Real Clear Markets.
I thank them for publishing these things.
And I go over each report as it comes out.
Now, in this case, It's 2% GDP growth, which looks a little below what was expected and what we want.
But the math here, Steve, is that we had a surge in imports, which normally are bad, and that detracts from GDP growth.
With me so far.
Now, those imports were not like consumer good crap from around the world.
They were capital goods, machine tools, and circuit boards and chips and things that we.
Are putting in place in America's latest wave of factories to produce things here to increase our productivity and our wages, and it's all happening.
Every single dollar of that capital goods coming in is a product of Trump's economic policies, starting with the tariffs.
We are bringing our manufacturing back onshore, and so you're going to see over time.
You're going to see over time these imports come in, our factories spring up.
And we're already seeing another geek thing for you the ISM manufacturing index.
It was below 50, it's a zero to 100 index for much of Biden's latter part of his term.
And it didn't really get above 50 until some months into the Trump term.
And now it's robust and continues to move up.
That's a wonderful sign.
That we are in a manufacturing renaissance right here, right now, Steve.
So you got to have the sophistication to look behind the headline numbers and understand how Trump nomics have the key regulations.
Yeah, they have the key regulations.
unidentified
Full stop.
steve bannon
Because I know you have to play footsie with these guys all the time.
The Financial Times of London and the Wall Street Journal should be pretty sophisticated, right?
Our audience is very sophisticated because of the great.
Years of training that you gave them and Dave Bratt gave them and Dave Walsh gave them and Scott Besson gave them and Russ Volk gave them.
We would go out of our way to do macroeconomics and all this so people could learn and they've learned a lot.
But that's why when I read the business press or when I watch CNBC or even Fox Business, I get nothing but happy talk.
And Trump's terrible, Navarro's a nutcase, tariffs are the worst thing in the world.
They misinterpret every piece of data that's there that's quite self evident.
So, when are we going to start banging some heads in the, you know, we bang enough heads in the political media.
When are we going to start banging some heads in the business media, sir?
peter navarro
Well, you answer your own question, Steve.
The ideology of the financial press is globalism.
And therefore, they cannot craft any message, i.e., the news, in ways which would support tariff protection.
To protect Americans and American factories from unfair trade, and that would onshore not just our production, but our labor by shutting our borders.
I mean, it's ideology, and you see it every day.
I do think the worst one right now is Bloomberg.
I mean, they blatantly wear that crap on their sleeve and their coverage.
Inflation And Trade Rumors 00:15:20
peter navarro
I mean, hands down.
But it's endemic, and it's, look, it's.
It's no secrecy.
Memo to Bannon.
Most of the media is not going to give Donald Trump a fair break.
But the problem is when it's the economy, that's a very dangerous thing.
And I get back to like the Powell problem.
We're just not getting the news.
And that's why your show is so valuable.
I mean, you do a lot of the politics and the election stuff and how to mobilize and things like that.
But nobody does get better.
On Mackle, on even you as well.
steve bannon
Hang on one second.
We just got a cold for a commercial break.
unidentified
Just hang on.
Here's your host, Stephen K. Bann.
steve bannon
So, a lot's going on about the conflict in Iran.
I'm going to get to that in a second.
Dr. Thayer stuck around.
Eric Bowling is here to give us an update on what's happening in Hormuz, Persian Gulf, oil markets throughout the world.
However, Eric, you are a trader.
unidentified
Are.
steve bannon
Are Bannon and Navarra, are we just whining about this PAL situation, which is quite unique?
Or do you sense the same problem that we sense, sir?
eric bolling
I'll tell you, you guys are on it.
I'll add to it a little bit.
You both hit on it.
Jerome Powell was way late to the inflation game.
He should have been raising interest rates throughout the Biden term.
He didn't.
He's playing politics.
If he was really concerned about growth, and honestly, monetary policy as it applies to growth is the only thing a chairman should do.
So he has to use the gas and the pedal with interest rates.
If inflation gets too high, use the brakes, raise interest rates.
If it's nice and low and demand starts to seep or slow down, press the gas, lower interest rates.
He played politics throughout four years of Biden.
Especially in what you pointed out at the very end, the month of October before the November election was the first time he lowered interest rates.
He should have been raising them and lowering them as things got better.
What he did was he started the economic turnaround.
Powell started in the last month or month and a half of Biden's terms, which gives him that honor of being the most political Fed chairman probably in history, certainly in my lifetime.
I think it's going to be very important to Warsh come out the box.
Look, Fed decisions are made almost unanimously every single time.
In fact, the decision that they just made the day before yesterday was an 8 to 4 split, which is highly unlikely, right?
It's usually the Fed chairman delivers a unanimous vote.
Yeah, unheard.
And so Warsh has to step in here and just leg sweep Jerome Powell immediately, clip his wings.
You're no longer chairman, sir.
You'll be one vote.
You want to be a dissenting vote?
That's fine.
Stand up there.
unidentified
I'm so mad.
eric bolling
The Supreme Court.
unidentified
Yeah.
steve bannon
And he met Powell.
Look, he's a third tier investment banker, not an economist, not someone like a Scott Besson or a war, somebody that knows capital markets deeply, right?
Either a trader or knows capital markets.
This guy was a third tier investment banker and a lawyer.
He had the worst call in at least my lifetime of a Federal Reserve.
It's almost as bad as some of the calls they were making, Greenspan was making up to the 2008 financial crash.
When he called inflation, when the inflation started burning, he said it was transitory.
Remember, he wasn't going to make moves against it.
He said transitory inflation.
That is the worst call, at least since Greenspan didn't recognize what would lead up to the 2008 financial crisis.
This is why this guy should not be around.
This is why this guy should be out of here.
And now he's going to fight a rearguard action every day against Warsh and President Trump.
So, all the business press, Bloomberg, the Wall Street Journal, Financial Times of London, All of them, New York Times, business section, Barron's.
You know, I don't want to hear you whining anymore about Trump, right?
Trump trying to have a non independent.
Kevin Warsh is an independent guy.
He's the guy that I really pushed back, you know, what, eight years ago for Fed Chair at the time.
He or either the backup, the cover bid would be John Taylor out of Stanford.
And of course, Mnuchin and these guys all wanted Powell.
They all had to have Powell.
But correct me if I'm wrong, his whole.
Idea that he put in this mindset of transitory inflation was just dead 1000% wrong, sir.
eric bolling
I, I, I, the only question I might make is, is, is well, maybe it was him.
Janet Yellen was also talking transitory inflation, yeah, being big, inflation being transitory throughout the time she spent up at the top levels as well.
So it was a, it was a talking point that they secretary delivered as, as, as a political talking point, maybe in conjunction with the White House, which is what they're not supposed to be doing.
They're supposed to be an independent body.
I, I, it was, it was.
Horrible that they didn't get in front of inflation.
And this whole idea that Powell is saying that he was in the Trump term, where inflation is a third or less of what it was during Biden, him saying, well, we may have to raise when Trump is saying, let's lower because to get in front, well, where were you four years ago, five years ago, Powell, when inflation was on its way up?
You get in front of the rise of inflation with interest rates, not behind it, but somehow you wanted to get in front of it with Trump.
It was clearly political, Steve.
steve bannon
No, and this is one of the reasons I tell people this whole affordability thing the Democrats are trying to use to hammer President Trump.
It's all their creation, and that's not coming down easily.
Once it's in structurally, it's going to take you a while to unwind it.
Anyway, let's play this cold open we've got on the war and economics.
And we've got Eric Bowling with us and Dr. Bradley Thayer.
Let's go ahead and let it rip.
john berman
This is according to Iran's state media.
This is their response, which was expected today.
Now, we should know President Trump rejected a previous offer from the Iranians.
Today marks 60 days since the conflict began.
Now, that 60 days is important because it would appear to trigger.
The War Powers Act, a Vietnam War era law that requires Congress to sign off on U.S. military action that lasts beyond 60 days.
But according to Defense Secretary Pete Hegseth, there is a loophole.
He told Congress that the April 7th ceasefire paused the clock on the 60 day countdown.
Now, many Democrats and some Republicans don't quite buy that.
There's also brand new reporting this morning.
According to a CNN analysis, at least 16 U.S. military sites have been damaged by Iranian strikes.
A majority of U.S. positions in the Middle East, that would make up a majority of positions in the Middle East, Some, we are told, are virtually unusable now.
What are you hearing about this latest response from the Iranians?
nic robertson
Yeah, it's really dropped in the last hour very, very, very, very recently.
It does seem to be something that is making the Pakistani mediator sort of breathe a slight sigh of relief.
Of course, they've been expecting Iran to respond by Wednesday.
And if not by Wednesday, then by Thursday.
And if not by Thursday, then really the sense here was. that this was the day.
If Iran didn't respond by now, then things were going to slip potentially out of control pretty quickly.
So the Iranians have put something on the table.
We don't know what's inside of it, of course, at the moment.
It is very clear, having had conversations in the past few hours with Iranian officials, that they don't trust President Trump, that they do have an idea of how they could get back into talks.
And part of that was indicated to us that it would be a simultaneous lifting of the blockade of the Strait of Hormuz.
They said, who's going to guarantee for us if we take that step that the United States doesn't just then move the U.S. Navy into the Strait of Hormuz and take control of it?
So there is this real, real deep distrust.
I think there's also this sense here that potentially things have been pretty close.
And it's not clear if Iran has bridged the final gaps or are they playing for time?
Are they going to try to spin out more rounds of talks?
We know very clearly, as undoubtedly Kevin was laying out as well, That President Trump has said some of this could be done on the phone, that he wouldn't send people here to talk if they were just 18 hours to get here, if they were just going to arrive and find something on the table they already knew wasn't acceptable.
So I think if we get an indication that a U.S. talks team were coming here, that would indicate that there's space to move forward.
steve bannon
Eric, we have a saying here in the war room price is truth.
Talk to us about what the markets are telling us about the Iranians' position.
Right now, on this Strait of Hermuz and the blockade.
eric bolling
Well, so much to get through, Steve.
I'll blow through it real quickly.
First of all, gasoline is now $439 a gallon.
That's up from $319 a year ago.
That's not very good news.
And for context, we were crushing Biden about Bidenomics.
I'm going to give you the negative stuff first.
We were crushing Biden about Bidenomics, but the average price of a gallon of gasoline for years, all four years of that miserable term, was only $358.
We're going to be pushing $450 within maybe a week or so, maybe $5 by the end of the summer.
That's going to be a real, real drag on certainly.
The economy, possibly even the election.
But we'll go for it.
Chevron and Exxon reported earnings this morning.
Both CEOs were out there blasting it out on CNBC talking about how much profit they were making.
Meanwhile, I'm watching that going, you guys are tone deaf.
Yeah, you're making profit because you're an oil producer, and higher prices benefit you.
I didn't see any refiners on there talking about they need the oil to put into the refinery to make gasoline.
Those prices are going up.
No one seems to want to talk about that side of the barrel equation, so to speak.
The good news is here's the very, very good news.
Yesterday, we talked about it.
Demand came out.
GDP grew, or it's stable at 2%.
And that's relevant because 2.5% is a target, but 2% in the midst of a 60 day conflict that's choking off oil means that in the United States, the dog is still wagging the tail.
We saw China the day before report that their economy was slowing, likely due to the higher oil prices, which means now the tail is starting to wag the dog, where the high price of oil is really starting to hurt the Chinese economy because we're self sufficient in oil.
Remember, we produce.
We use 20 million, we produce 13, and for some odd reason, we're shipping 14 million barrels a day out, but that's another story.
So, the good news is, versus China, we're doing really, really well.
I will give you one more thing.
If you can pull up the camera or the guys, if you can pull up that first chart I sent to you, Steve, last night, I got it refreshed from my friends who are traders at some of the top oil trading desks, real people.
Upper left hand corner of that chart, if you can see it, the number three there, that's the number of vessels that have transited the Strait of Hormuz in the last 24 hours.
The number is three, Steve.
The actual number should be 130, 140.
Number three, three vessels have transited in the last 24 hours.
And if you look at the lower left hand corner of that chart, you see the number 350.
It's a shipping rate, it's 350 versus what normally should be 45 or 50.
So the shipping rates in this region, not just through the strait, in the region, have gone up sevenfold.
One final thought jet fuel is becoming a global issue for not just Europe anymore, now the United States as well.
We're starting to Drain some of our jet fuel.
Oh, I'll give you one last one.
I read this this morning.
In California, the biggest, most populous state used to have 46 refineries.
They have three now.
They're down to three because of policy.
unidentified
Unbelievable.
steve bannon
Eric, you're back up at four o'clock.
We'll do a transition today.
eric bolling
Hey, show them the pictures real quick.
Show them the pictures real quick.
I had this.
I got to show it.
Here's Steve Bannon as a young Navy man.
All right, one more real quick.
Do the other one.
Steve Bannon next to who?
Andy Gibb.
Oh my God, Steve, you are a lady killer as a man.
Happy Friday.
unidentified
Thank you, sir.
Here's your host, Stephen K. Bannon.
So, what did Bowling throw up there?
Can I see that?
steve bannon
I got a little sobriety.
The photos.
Can we see?
Okay, got it right there.
And then the other one.
Okay, that's college.
I think that's my senior year of college, junior, senior year.
And then that's right after college.
The Navy cleaned me up, let's say that.
Back to what my mother felt she had turned me over to college as coming out of military school.
But anyway, Eric Bowen caught me by surprise there.
College and then right after college.
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This is this huge fight geopolitically about the dollar being the prime reserve currency.
Now, I think we're having a national debate.
We will continue to have a national debate.
Do we want to be the prime reserve currency?
There's a tremendous amount of benefits from it.
There's also obligations.
One of the obligations you're seeing taking place right now in the Persian Gulf, this whole situation with.
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IRS Scams And Tax Myths 00:02:41
steve bannon
Understand, particularly if he didn't file.
There's two things.
These two kinds of rumors bounce around.
Number one, they're under such pressure because of cuts to the government that they don't have enough agents or enough IRS auditors that they're not going to be doing audits, not going to be checking.
Number two is that President Trump's getting rid of the income tax.
It's aspirational.
President Trump's saying, hey, if tariffs work, right, and other fees that we can charge, maybe foreign entities, one day, maybe we can.
Eliminate the income tax.
That's his goal and objective.
You know, Peter Navarre just said last segment the entire history of the Republic with the Federal Reserve.
Well, thank God it was only created in the early 20th century along with the income tax because if the Federal Reserve had been from the very early days of the Republic, we would never have had the explosion in economic growth using the American system of Alexander Hamilton in the 19th century.
That's why Andrew Jackson, the first great populace, fought the Bank of the United States, which was a first cut of a Federal Reserve, of course, owned by private individuals in New York City, and basically shut down by Andrew Jackson, his great fight.
But the IRS is not going away.
And quite frankly, with the deficits we got, particularly, you saw Pete getting lit up yesterday with the $1.5 trillion in the defense budget.
The current defense budget, and we're fighting this war right now $25 billion, they said so far.
Scott Besson's kind of the interim head or the guy overseeing it.
They need all the cash they can get.
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Taiwan Leverage Points 00:08:23
steve bannon
Dr. Bradley Thayer, the president, and you can tell he's, and I've said this before President Trump has read a lot of naval history.
He's a very big believer in Mahan.
Victory at Sea is one of his favorite documentaries in Sammy Elliott Morrison's book.
It's one of his favorite books on naval warfare.
His entire hemispheric defense is Mahanian, right?
As we now make the Central Pacific the strategic pivot of the United States of America and not the heartland of the Eurasian landmass, which totally changes kind of world geopolitics that's been around, or at least that fight of it's been around for thousands of years.
Uh, your thoughts as Admiral Cooper at CENTCOM briefed him yesterday on the range of alternatives, where do you think we are, sir?
bradley thayer
Well, Steve, Admiral, according to the Axios report, right?
Cooper was briefing him on two major pillars, and that would be a Hormuz option, which might include ground forces, and then special operators really working on to seize fissile material, the enriched uranium.
I think.
President Trump has got three points of leverage here.
First, the blockade is working extremely well, and that gives him a very potent weapon to use against the Iranians.
Secondly, he's got the threat of escalation, and that includes the following elements.
First, we've learned a lot about where the Iranians are storing things given this hiatus, this break in targeting.
So there are going to be a lot more, there are going to be military targets that will be very usefully struck, as well as perhaps.
Broadening that to the economic, civilian, and economic targets, which of course Iran does not want us to target.
And then the third component there, besides the blockade and essentially returning to military force, would be China.
The pain that he's putting on communist China gives us a leverage as well.
So those things are working, I think, very effectively in President Trump's favor against the Iranian regime.
That said, of course, Iran has every incentive to drag this out as long as possible.
So, of those three elements, one that we haven't talked much about, communist China, is really going to come to the fore as we move into the mid May meeting and pressure that Xi Jinping is going to face based on his economy, as Eric was saying.
steve bannon
Doctor, here's what I don't like about the framing so far.
I didn't have time to send you this morning, but I get up this morning and go through all the European.
Papers, no news sites, and Asian, and then finally the American Financial Times and the American papers.
They're clearly framing this, at least as of today, is that it's not so much the Iran war and how this has to be focused, but the CCP is saying this is going to be about Taiwan.
I mean, it's pretty, I was pretty shocked about how their information warfare has framed this, that from Beijing's perspective, they're going to have a very detailed talk about Taiwan, and that is going to be complicated.
Taiwan just put up numbers yesterday, folks.
If you didn't see it, their economic growth is through the roof because of advanced chip design.
I mean, the risk that they took years ago is paying off big league that they essentially make all the advanced chips that drive the world's economy and particularly the American economy.
Your thoughts on that?
I mean, did you see the same thing of how they're fighting this that they're going to have a direct discussion about Taiwan?
bradley thayer
And they want that, no doubt about it.
And President Trump can tell them to go to hell with respect to that, right?
They can bring up Taiwan if they choose, but we don't have to engage on that.
We can shoot that down.
So, no doubt that Taiwan is going to come up in the mid May meeting.
Trade, a lot of the South China Sea, East China Sea aggression that the CCP has launched against our allies and partners in the region.
So, of course, the Communist Chinese can bring that up.
But we're not going to bite on that.
I hope the Trump administration very much does not.
Play the CCP's game in trying to establish any type of linkage in that regard.
If they want to bring up Taiwan, we can bring up the Uyghurs.
We can bring up the genocide in Zhenjian, crushing of the Tibetan people.
There are many other issues, the human rights record in general that we can bring up, and the illegitimacy of the Chinese communist government.
So if they want to go down that road, we can respond very quickly, I think, and very effectively.
steve bannon
My concern is there's an awful lot of business community.
Remember, this whole thing on AI, and we're going to talk to you about even more focused endeavors we're going to have on these data centers, right, which are a plague in this country.
The phony, the oligarchs talk out of both sides of their mouth.
They all, you know, we have to be AI, we have to be China, we have to be China.
At the same time, those oligarchs are totally in business with the Chinese Communist Party.
And don't want any confrontation with the Chinese Communist Party.
We got about a minute and a half, Dr. Thayer.
With that being reality, there's a lot of people in President Trump's ear that he should reach some sort of rapprochement about Taiwan with the CCP.
Your thoughts?
bradley thayer
Well, it's clear, as we just discussed, that Communist China is aggressing.
They have Taiwan in their sights and they're moving every.
They've taken for many, many years steps to prepare the battlefield.
In Taiwan.
A way that we can shoot that down very effectively would be to cut off the chips.
So it's important for everyone to recognize in the United States at any level to recognize that they're gunning for Taiwan.
Aggression is certain in that regard, and we need to respond now.
Chips are a very effective way of doing that, as tariffs are.
You just had Peter on, right?
And so he can work his magic in that regard.
President Trump has said anybody helping Iran is vulnerable to very significant tariffs.
Investment, we're still, money is still flowing from New York to communist China.
That needs to be cut off.
The Trump administration has taken some measures in that regard, but that really needs to be ended.
And then the students as well, the students, Chinese students that we have in the United States, 350,000 of them, that number has to be brought down as well.
So we have a lot of leverage with respect to Iran, but we also have an enormous amount of leverage with respect to the Communist China and leading up to the May meeting.
But Xi's going to press us hard.
As they always do.
And we need to have our house in order, clearly.
steve bannon
Yeah.
Where do people get you?
Book's going to come out later this summer.
Where do people get you for your writings?
bradley thayer
Well, first, Steve, I just say Eric opened a Pandora's box with those photos.
So I hope you've, he was a young man, obviously in the Navy.
unidentified
No, no, no.
bradley thayer
So I'd hate if Cameron had that distributed more broadly.
But Brad Therodex and Bradley Therodex are getting truth.
steve bannon
Dr. Thayer, thank you so much.
And on May Day, to talk to people about the reality is, particularly in our education system.
Minnesota House Battle 00:06:43
steve bannon
You're going to see it today.
Check your local news out.
They'll make a big deal about these shutdowns at these high schools and led by these really amazing teachers, the ones with the pink and purple hair.
Short break.
Back in a moment.
unidentified
War Room.
Here's your host, Stephen K. Bann.
steve bannon
So we're already packed for this afternoon.
Afternoon and tomorrow morning, and that doesn't include everything that's going to happen in the interim.
So, we're going to juggle here in the war room and make sure that you get all the information and analysis you need.
I would just give you a heads up for the war imposter because you've been driving this for a couple of years.
And remember, for those of you who've been with the show for a while, in 22, we would have never taken back the House unless it was for your efforts on the redistricting war of 22.
11 seats changed hands in redistricting.
The Democrats picked up three, and we picked up eight.
And particularly in Florida, where we raised holy hell and really made the legislature there that had no interest in doing it, I think it was four seats at the time, which was really incredible.
But we would have never taken back the House without that.
We're not going to hold the House without this.
Let me just be blunt.
That's why this fight's so important.
And we'll have more specifics today about who to light up.
Because you can see those people that are MAGA and those people that are, we'll put their shoulder to the.
What's so outrageous and I find so offensive is the South has been oppressed by this since the 1960s or 70s.
It was clearly unconstitutional.
Finally, people in Louisiana had the gumption to fight all the way through.
The Supreme Court, 6 3, this was not close.
This was not closed.
And Alito buried him.
And Kagan's response was, as we said today, 30 pages of whining.
Or 30 over 60, I think, were just whining.
And you see it on TV last night.
But to know that people in the South were not ready to hit it right away, it's unconstitutional.
It has to be rectified right away.
And for those that are getting on with it, good on you.
And for those of you like Kemp and these people in Georgia, it's just, once again, their hatred of Trump, their hatred of Trump.
Because they think they don't get these seats flipped.
He's got a chance of getting impeached.
And that's what Kemp and these guys want.
That's what the establishment wants.
You heard it here first.
I know it's shocking.
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Remember, it's not the price, although the price has run up quite a bit, it's the pattern recognition, what drives value, particularly as we go forward here with the BRICS nations and so much turmoil.
Particularly in the Middle East, among the big oil providers.
You heard yesterday the first quarter with Santelli and Peter.
We had Gardner on last night.
You got the green sprouts of a manufacturing renaissance in this country.
However, that's all run on energy, and we'll have to see how this thing plays out.
President Trump weighing his alternatives, and we're going to talk a lot about that this afternoon.
Also, an update on the redistricting wars, of which I'm proud to say that this show has been at the tip of the spear now.
Going on our fourth year of doing this.
Big win in 22.
We took the house in here.
I kept telling people, don't get black pilled.
This is, I mean, you could have a net pickup of what we're talking about 23 seats, 23 seats from Texas, and you folks have been there and fought the good fight every step of the way.
Mike Lindell, brother, you're going all in on governor.
You're making everybody proud.
You're taking the fight.
Mike Lindell, what's the first issue you're going to deal with after you take your hand off the Holy Bible after being sworn in as the governor of Minnesota?
What's the first?
Thing you're going to deal with?
mike lindell
We've got to ban Sharia law.
The Islam coming into Minnesota when we were the Trojan horse for it.
I said it five years ago.
Back then, they called me racist.
But now, with all the fraud and it's opened people's eyes, that's the number one thing when I get first day ban Sharia law, bring back the Minnesota flag.
And we have one other thing, remember Governor Waltz put a satanic statue in our Capitol in St. Paul.
And then he got an award for it.
So that's somewhere in the Capitol.
steve bannon
Hang on, hang on, hang on, hang on.
How can this?
This is what I'm saying about these Marxists.
Today's May Day, they're going to have all the high schools at Minneapolis are going to be terrible because they're all Marxists up there in the public education system.
This is what they do.
They applaud and want a satanic statue in the actual people's house in Minnesota.
This is what turns them on, correct?
Because they can mock Christianity?
mike lindell
Absolutely.
You got the governor, what our governor said back then, he goes, Well, we've got to be fair.
I'm going, be fair to the devil.
I go, you know, it's beyond comprehension.
Then you got Keith Ellison, our attorney general, attacking my Christian platform, Lindell Recovery Network.org.
He's been all in on the attack.
He doesn't want people getting off addiction and finding Jesus.
And this has been going on.
And this is a bigger battle than people realize.
It's a spiritual battle of biblical proportions we're in.
That's why these midterms coming up are the most important midterms.
In history.
steve bannon
Sir, we've got about a minute and a half left.
Folks want to know how we're doing on our deal.
Emptying The Last Truck 00:01:32
mike lindell
Yeah, this is the last day, everybody.
I told you yesterday, this is it.
Let's get that last truck empty.
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steve bannon
Brother, thank you so much.
We'll see you back here in the five o'clock hour.
Let's everybody get on that deal.
This is the last day of it.
Mike Lindell's giving you the call.
The Charlie Kirk show is next with Andrew Colvette.
You've got Poso after that, Steve Gruber, Unreal America's voice, Eric Bowling, and I'll do a transition today into the five o'clock show back here in the warroom.
unidentified
See you at five.
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