Bannon's War Room - December 17, 2024


Episode 4133： Fall Of World Governments


Episode Stats

Length

55 minutes

Words per Minute

172.99188

Word Count

9,624

Sentence Count

653


Summary


Transcript

00:00:00.000 of event in terms of the politics of Canada. And as I've said, mirrors something to some extent we
00:00:05.340 see in Germany and South Korea as well in terms of the Trump effect. What is behind this rift
00:00:09.480 then within the heart of politics in Canada? Yeah, you're absolutely right that Donald Trump
00:00:15.820 is also looming over this situation. We know there's been tensions between finance minister,
00:00:21.120 former finance minister Freeland's office and Justin Trudeau. That was bubbling last week,
00:00:26.020 really erupted on Monday and a really kind of devastating day for Trudeau's government with
00:00:31.280 her resignation letter in which she accused the government of going after expensive political
00:00:38.100 gimmicks to help bolster the economy ahead of the Trump presidency that begins next month.
00:00:45.640 Canada, of course, bracing for the potential of 25 percent tariffs on their exports to the United
00:00:51.280 States. That has become a big focus of Trudeau's government, how to deal with that. But also the
00:00:56.860 government has wanted to boost its popularity a little bit. That's at the core of Freeland's
00:01:01.320 accusations. They've instituted a sales tax holiday. There was talk about mailing Canadians $250
00:01:08.340 Canadian dollar checks. And this all comes after the government reported a real blowout deficit number
00:01:15.340 of over $60 billion Canadian dollars. And the fiscal year ended March. That was more than the $40
00:01:21.260 billion, more or less, that was projected or promised by the government. So a tough fiscal
00:01:26.400 situation there, turning into a very difficult political situation for Justin Trudeau.
00:01:32.080 Well, on that point, is Trudeau under threat at this point, Bill?
00:01:37.040 Well, he certainly is under threat. It's definitely a low point. We believe the government wanted to look
00:01:43.540 for elections, maybe second half late next year. This may force them to bring it forward. There's
00:01:49.820 increasing calls from members of his own party that he step aside, in addition to calls from the
00:01:56.200 opposition. The next few weeks will be a critical part of that. We'll see if he's forced into calling
00:02:02.780 those elections. His party still is the biggest block in the House of Commons, but they do not have
00:02:07.700 a majority. We are also, though, following breaking news out of Berlin at this hour, where German
00:02:12.040 Chancellor Olaf Scholz has just lost a confidence vote, a vote, of course, that he called for. And that
00:02:16.740 move now paves the way for elections in February. We have live pictures for you of the Bundestag in
00:02:22.020 Berlin. President Frank-Walter Steinmeier can now move, of course, to dissolve the legislature and then
00:02:27.160 formally declare the already agreed upon election date of February 23rd. All of this coming after Germany's
00:02:32.980 governing coalition collapsed last month. CNN's Sebastian Schuchel is tracking the story. Joining us now live with
00:02:38.360 the developments from Berlin, so not a totally unexpected outcome. But just walk us through what
00:02:42.640 happens now, if you would. Yeah, Erica, I'm still in the belly of the Bundestag here, actually, in the
00:02:49.460 room just behind me is where the vote recently took its conclusion. What I have for you here is the
00:02:55.500 outcome of the votes, which is Scholz lost this vote of confidence in himself. The semantics around it
00:03:01.520 are important by 394 votes against him to 207 in favor of him. So that's a sizable number who have
00:03:10.420 said that, look, this country needs to adopt a new chancellor and needs to embark on trying to form a
00:03:17.380 new coalition government. As you said, the process around this now is that Scholz will head to the
00:03:26.040 president's residence, where he will then go and ask to formally dissolve parliament. But the way that
00:03:31.640 this whole process, including the buildup to getting to this day, the vote of confidence, has been
00:03:37.460 very regimented and controlled by the parties have already informally agreed when that election is
00:03:45.100 going to be. And it will be on the 23rd of February. Technically, the president has 21 days to decide
00:03:51.120 on the day, but it is almost a foregone conclusion. And, Erika, the foregone conclusion is also being
00:03:58.600 echoed by what was said in that chamber earlier today. I want you to take a listen to what Olaf
00:04:02.780 Chancellor, Olaf Scholz, the chancellor, had to say when he was on his feet in there earlier.
00:04:11.520 Democracy requires parties to compete against each other with different proposals,
00:04:15.480 as we will do in the upcoming campaign. But democracy also requires all those who believe in
00:04:21.880 it to be prepared to work together for the good of the country after an election, to build bridges,
00:04:27.140 to forge compromises. This is not possible without moral maturity, without decency and seriousness.
00:04:34.720 It is only possible with a sense of responsibility for our entire country, for all our citizens.
00:04:40.300 And so you can hear that. Okay, I want to make sure. Okay, I want to make sure you heard it right
00:04:49.820 there with the guy with the head of Germany was there. It's always when they're getting their ass
00:04:54.400 kicked, and finally getting run out. It's always, you know, we got to really work together. There's
00:04:59.820 always got to be compromise and unity. That's all they're talking about on MSA. We got to have unity
00:05:03.740 compromise, bring the country together. Hey, how about this? To quote Obama, elections have consequences.
00:05:09.400 We won, you lost, you got your ass kicked, because you didn't take care of working class and middle
00:05:14.960 class people for decades and decades and decades. We got nothing to compromise about. Nothing.
00:05:22.640 All gas, no brake. All pedal, no brake. It's not a time to unify. It's a time to seize the institutions
00:05:31.180 and secure our victory. Up on Capitol Hill, that little worm right now. Do we have the Johnson thing?
00:05:38.520 This little worm is sitting there going, you know, up until like a day or two ago, it was
00:05:45.880 really as a skinny CR, but some things evolved. Yeah, like sitting down with Hakeem Jeffries
00:05:51.600 and getting slapped upside the head, because he owns you, and the Senate owns you. If you had
00:06:01.780 a fearless speaker, and this is leadership too. Don't think Scalise and these other guys get
00:06:05.700 off the hook here. Where's the leadership? How did you not know it? Why wasn't Scalise
00:06:11.480 running the microphone? Why wasn't Jordan running the microphone? You're telling me you allowed
00:06:15.300 him and just that inner circle of McCarthy advisors to do this? This is how we got in
00:06:20.720 the situation. McCarthy got turfed out as speaker because of the debt deal. The debt deal that
00:06:27.140 comes off on 3 January that Trump's going to inherit. Now that you put another, I don't
00:06:34.140 know, $5 trillion of more debt. Here's the thing. I got a lot of feedback yesterday, positive
00:06:42.960 feedback. Where did the freaking money go? Look around your hometown. Look around the Midwest.
00:06:50.420 Look around inner city Baltimore. Look at inner city Chicago. Look up at areas of New York
00:06:56.520 City. The Bronx. Let's look at the barrio in LA. Let's look around the country. Where did
00:07:06.920 the 36 and a half trillion go? And where's the 40 trillion? We got debt. And by the way, we
00:07:14.820 spent hundreds of trillions to get there. Because remember, you had $4 or $5 trillion coming in
00:07:21.620 a year in revenue to offset it. I'm just talking about the gap. Where did the money go? Have
00:07:28.000 you seen it in your neighborhood? Are you sitting there and it looks like paradise? Right? You
00:07:34.140 got great jobs, huge opportunities, high value, added manufacturing jobs, little industries
00:07:38.900 built around a service business, coffee shops, bodegos, little boutiques where people selling
00:07:45.560 stuff for those small things people like in life. You see that? Uh-uh. Where'd the money
00:07:52.180 go? Tell you what. Look at the valuation of the stock market. Look at the concentration of
00:07:57.620 wealth. It went to the oligarchs. It's a game set up by the oligarchs that they win. You've
00:08:02.960 seen it again here now. Why are we going to make a big deal about this? And why are we going
00:08:07.460 to have a fight right here before Christmas when we should be in the Christmas spirit?
00:08:10.580 We're here in Advent and should be in the Christmas spirit? Because this portends the future.
00:08:18.840 This is when Trump gets in and we're in the firestorm. Because you just sit there, you heard
00:08:22.960 it. We played the thing from last night with Rachel Maddow, ACLU guys. We're waiting.
00:08:27.560 We're waiting. We're holding. We're holding our fire for when the deportations come. We're
00:08:32.020 going to have the cameras everywhere. And that's when we're going to flip the nation on Trump.
00:08:34.800 We're waiting. We're lying in wait. They're lying in wait. With all of it. With all of
00:08:43.460 it. And you got Jason Smith and those guys. Hey, Jason, here's ways and means. I got just
00:08:49.580 a question. Here's simple. To cut, why do you need all this time to do that? If you're going
00:08:55.740 to just cut no tax on Social Security, no tax on overtime, no tax on tips. And hell, throw
00:09:05.920 Josh Hawley's child credit in there. Throw that in there, too, for folks so that we have
00:09:10.560 more kids and we can also toss that in there. How long is that? I think Jason Smith, we can
00:09:17.460 type that up this afternoon. Slap a tax increase on all the wealthy, all the corporations, all
00:09:23.740 the billionaires, take off carried interest, all the scams and games they play to line their
00:09:28.740 own pockets. We could take an hour just to do all the transfer of money over the NGOs,
00:09:33.800 all these games they play. We could take another hour of that. So it's 20 minutes to write the
00:09:39.120 populace in an hour to mark up the thing on wealthy. That's an hour and a half. Let's just
00:09:44.900 get it up. One can say, hey, I'll do that. Let's just take that on 20th. No. Why does
00:09:49.780 it take so long? Because they're at the trough. These lobbyists, they're in to get every tax
00:09:56.780 break in the world for the corporations. You don't believe me? We have four and a half trillion
00:10:03.320 dollars of proceeds, tariffs, fees, personal taxes, all taxes, four and a half trillion, roughly
00:10:12.460 four and a half trillion. How much corporate tax is it? How much corporate tax? When I ask
00:10:18.860 this question, oh, at least 50%, maybe 60%. You would be incorrect. It's about $500 billion.
00:10:26.140 Oh, you can't raise taxes on corporations. Well, look, all they've done since the 2008 crash
00:10:37.200 is take $200 billion in tax credit they got. And what they did, they instead of putting in
00:10:43.000 plant and equipment and capital equipment here in the United States to build high bay, added
00:10:47.880 manufacturing jobs, you know what they did? They did stock repurchases and stock buybacks.
00:10:54.320 Game the system. So the stock price goes up, boom, their warrant packages are worth a lot
00:10:59.440 of money. They blow out of there and it's, I'll see you later. Alligator. I'm just giving
00:11:07.980 you the math. $500 billion total corporate taxes. $500 billion. That's it. Unbelievable.
00:11:16.380 Governments are falling all over for the same reason. It's called, they're too leveraged.
00:11:22.280 They got too big of deficits. They can't finance it. They got a cut. And now the knives are coming
00:11:27.800 out. Ben Harnwell from Rome. Give me your assessment. I got, I got the Jim Rickards on deck.
00:11:33.640 What do you got for me, Ben? Well, with regards to Europe, Steve, my, my takeaways, it's actually
00:11:40.380 astonishing how the world's mainstream media is looking at these events and failing to even attempt
00:11:46.500 to draw the lines. You can always get a sense of deja vu reading the newspapers. You're seeing the
00:11:51.980 same sort of headlines describing the same situations. And none of the world's foreign
00:11:56.500 correspondents are saying, hang on, you know, basically this all seems to be the same thing.
00:12:01.460 Let's see if we can unpack this. Looking at Germany, looking at France as well, these two countries
00:12:07.400 are extremely closely related. The German situation, now they're going to have, with all due respect to
00:12:13.160 what CNN was saying earlier on, this losing the vote of confidence was actually what Olaf
00:12:19.740 Schultz, the German chancellor, wanted, because there was no other constitutional mechanism to go
00:12:24.840 to early elections other than losing this vote. That was very much part of his design. But you're
00:12:29.660 looking at the two parties in Germany, the Social Democrats and the Christian Democrats,
00:12:34.240 and they're both trying to out-compete one another to see which party can more autistically
00:12:39.320 ignore the German people. The social Democrats have basically continued Angela Merkel's policy,
00:12:47.960 who is a Christian Democrat. They've continued her policy with regards to immigration, which is
00:12:52.760 massively unpopular in Germany. The Christian Democrats, Friedrich Mertz, Merkel's successor,
00:12:59.880 is saying, okay, no, no, we're going to tighten up on immigration, but we're going to be even more
00:13:05.320 gung-ho on Ukraine than Olaf Schultz was. He's very much, I think, if the war impossible has to put him
00:13:13.960 in a category, he's very much, I think, like Georgia Maloney on so many different fronts, this guy.
00:13:19.960 This is why the real development in Germany isn't happening between the centre-left or the centre-right.
00:13:26.360 It's what's happening with the AFD. Now, they are projected to go at the next elections on February
00:13:31.400 the 23rd from about 10.3%, where they've got about 83 seats, up to about 18 points at the next
00:13:40.760 election. They're going to have an eight-point jump, and they're projected to pick up around 30 or so seats.
00:13:45.400 That, I think, is the real movement, what's happening in Germany. Just to quickly say to France,
00:13:49.320 and my big point is on Ukraine, and I don't want to cut into too much what Jim Rickard is going to
00:13:54.840 say here on tying the European developments together. But looking at France, here's how you
00:13:59.320 know the mainstream media is lying to you. The whole frame, when their government fell three weeks
00:14:04.920 ago, the whole frame was, oh, you know, well, these three billion worth of tax cuts, tax increases,
00:14:11.320 I should say, on electricity bills, they're very unpopular with the French people. See,
00:14:15.800 nobody mentioned whatsoever that however unpopular three billion worth is on electricity bills,
00:14:23.080 Macron had given 7.5 billion euros to Ukraine, and no one is drawing the line between cause and effect.
00:14:30.600 Yeah. Well, the voters will. Hang on for a second. We're taking a short commercial break. Jim Rickards
00:14:36.200 is going to join us on the other side. Home title, like 90% or 80% of your net worth is tied up in your
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00:14:54.600 it out today. Short break. Jim Rickards on the other side.
00:15:00.360 Big victory on five November. Now the work can finally start on the big issues facing the country.
00:15:05.960 One of the biggest is the national debt and the deficits that drive it. Hey, you think the country's
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00:16:18.040 silver today. Here's your host, Stephen K. Band.
00:16:22.360 Okay, folks. We're bringing in Jim Rickards, who's one of the world's specialists in the area, but
00:16:31.560 as sure as the turning of the earth, what you're seeing happen in these other, you know, the fall
00:16:36.840 of the French government running the parliament for the first time since 1962, Germany. And yes,
00:16:43.560 he wants an earlier election, but they're crumbling. In Canada, he's about to get turfed out. You're
00:16:48.920 seeing this all over the world now. In South Korea, it's a slightly different reason. But basically,
00:16:54.440 we're heading towards a margin call on out of control on these legislatures or parliaments
00:17:01.080 that didn't have controls of their executive branches that spent an enormous amount of money.
00:17:05.640 And nobody knows where the money went. Where'd it go? Is it in planting equipment? Is it making
00:17:11.160 people's lives better? Is it creating high value added jobs? The answer to that, you answer it. Don't
00:17:17.480 look to me. You answer it. Look around. Jim Rickards, we've got you in here today to make sense of this
00:17:25.160 madness because it's coming to the United States. You're going to have in the next 48 hours, a total
00:17:30.840 freefall, a total firefight on Capitol Hill where virtually no Republicans, unless it's people that
00:17:38.440 have to because of the hurricanes or the floods or whatever, they have the packages in there to
00:17:45.000 help people that their constituents need that money. Other than that, virtually every Republican is
00:17:50.120 going to fight this. You're going to have Democrats. So once again, Johnson's going to prove that he's
00:17:54.920 just a speaker for the Democrats. It's going to be a firefight on something that should be the,
00:17:59.400 and this is the easy one, ladies and gentlemen, this is the easiest one we're going to do,
00:18:03.400 a skinny CR. This is so elemental, so easy. This is nothing compared to what's coming
00:18:10.520 after President Trump takes the oath of office. That's when we're playing Major League Baseball
00:18:17.080 and not coach pitch. Jim Rickards.
00:18:21.560 Well, Steve, that was a great reel you had on, you know, kind of governments falling around the
00:18:25.320 world, and Ben had a really good update on Germany. That could have been twice as long.
00:18:31.640 In Romania, I would say mildly pro-Russian, or at least once to talk to Russia,
00:18:36.760 candidate one, a free and fair election. He was going to be the next president of Romania,
00:18:41.080 and the Supreme Court of Romania invalidated the election and said, sorry, you have to take it,
00:18:46.360 you have to do it over again. In other words, we're supposed to be fighting for democracy in Ukraine.
00:18:50.520 That's a joke. Zelensky's term ran out last May. He's a military dictator right now. There is no
00:18:55.960 democracy in Ukraine. But now, as of now, there's no democracy in Romania, because they just
00:19:00.920 invalidated the election. Of course, we have the situation in Korea, different fact patterns. But
00:19:05.320 your basic notion that governments around the world are falling is correct. I have a little more
00:19:10.440 insight on our friend Christia Freeland. I know her very well. She and I were debate partners.
00:19:16.520 Just tell the story briefly, a high-profile debate. We spent months talking to each other, preparing,
00:19:21.400 you know, et cetera, et cetera. We go, we do the debate. I thought she was a pretty good friend.
00:19:27.000 Like I said, we talked all the time. Well, we lost the debate. You know, hey, you win some,
00:19:31.960 you lose some. But there was a big gala afterwards. And we might have said, I would go to the bar,
00:19:35.320 have a drink, you know, congratulate our opponents and all that. She turned her back on me. She never
00:19:40.360 spoke to me again. I mean, she was a snake. And she still is. And by the way, and she just stuck the
00:19:45.560 knife in Trudeau's back. You know, we saw that yesterday. But here's the thing with Christia.
00:19:51.720 This is being positioned as it's all about the tariff wars. Trump, Trudeau's not tough enough,
00:19:57.160 she'll be tougher, et cetera. It's really very much about Ukraine. Her grandfather was a Nazi
00:20:03.160 sympathizer in Ukraine in World War II. Probably more than that, but that's that much is very well
00:20:09.560 documented. She's rabidly pro-Ukrainian, shows up at rallies in Ukrainian dress, a total warmonger,
00:20:16.680 very much in the World Economic Forum, you know, orb, if you will. And so part of what she's doing,
00:20:22.760 she's trying to run Trudeau off the road. She wants to be the party leader and ultimately the
00:20:27.240 prime minister. But a lot of her motivation is about keeping the war going in Ukraine.
00:20:32.120 So you need to kind of see where that's coming from. And yeah, you know, we mentioned Romania
00:20:38.200 and Germany. I think Ben had it exactly right. The more conservative party there is set for major
00:20:44.040 gains. And let's not forget the UK. I mean, what happened there? So Labour has the biggest majority
00:20:51.240 by seats, but they had a worse performance by votes than they did the last time they ran. And
00:20:57.400 the point is they have a, let's go first past the post, meaning if you have three candidates,
00:21:02.440 the one who gets the most votes gets the seat, even if it's nowhere near a majority. Well,
00:21:05.960 what happened was reform, which is Nigel Farage and the Tories split the votes in a lot of
00:21:11.320 constituencies. So the Labour candidate won, but if you combine reform and the Tories, they got the most
00:21:18.440 votes. So we'll see what happens there. But, you know, we'll leave it to our friend,
00:21:22.840 Nigel Farage. But some kind of combination between reform and Tories would win the next election. So
00:21:28.600 we keep an eye on that as well. So it's, yeah, the governments are falling all over the place,
00:21:32.360 but it's for the reason you mentioned.
00:21:34.600 Well, so when she said, and I agree, she, she, she's very cunning, but she's smart and tough.
00:21:43.000 In her letter, she said, she said to Trudeau, she says, hey, you're not taking Trump's and she,
00:21:51.240 quote, aggressive economic nationalism seriously enough. We've got, we've had you, we've got big
00:21:57.800 deficits and the, and you're presenting a bill has a bigger deficit. We need to keep our powder dry
00:22:02.680 to basically see what the madman south of the border comes at us with. In that regard,
00:22:08.520 she's quite correct, right? President Trump has taken a very economic nationalist stance here
00:22:13.720 between Mexico and the United States, between Canada and the United States, and between China
00:22:17.880 and the United States. In that regard, it's these deficits. This is what turfed out the government
00:22:23.080 in France. This is what essentially turfed out. This is what's going to turf us out. You can't run at
00:22:27.880 six, seven, eight percent deficits to GDP. At some point in time, you should get them to zero,
00:22:33.480 but if you can't get them to zero, you at least got to get them under three percent is,
00:22:36.680 and nobody's doing that. Nobody's taking the cuts to get there, Jim.
00:22:42.040 Well, that's right. This is, you know, Scott Bestin's three, three, three plan.
00:22:45.480 And deficits at three percent of GDP, growth at three percent, real growth at three percent.
00:22:52.520 But with two percent inflation or three percent inflation, your nominal growth will actually be
00:22:57.160 five or six percent. And that's what counts for debt purposes. Real growth, it counts for everyday
00:23:01.960 Americans. But if you're trying to manage the debt, debt is nominal and growth is nominal.
00:23:06.120 So if you get three percent deficits and six percent growth or five percent growth,
00:23:11.320 you're growing faster than you're adding more debt and your debt to GDP ratio is going down.
00:23:16.040 You're never going to pay off the national debt. You don't have to. You just have to make it
00:23:18.920 sustainable and have the ability to roll it over. But the way you do that is to grow faster than
00:23:24.040 you're adding debt, which is exactly what Bestin is proposing. It's, you know, this is fifth grade math,
00:23:28.760 but the point is try doing it. And that's the difficult part. But you're right. It's an issue all over
00:23:34.360 the world. But she wants to take a hard line. She wants to fight the trade war. Good luck. I mean,
00:23:38.520 Canada and the U.S. have one of the largest bilateral trading relationships in the world,
00:23:42.520 period. And Canada relies on, you know, CUSMCA, U.S.-Mexico-Canadian agreement. It's a successor
00:23:50.040 to NAFTA. It's a better deal for the U.S. But Canada is utterly dependent on that. Well,
00:23:55.400 Canada is a rich country, a very small population, about 30 million. And between, you know, in effect,
00:24:00.200 free electricity coming from hydroelectric in Quebec and the oil output from Alberta, even though they've
00:24:06.280 tried to squash it, they can afford a lot of benefits that other countries can't. But they
00:24:11.800 cannot afford a trade war with the United States. And that's where they're heading. And that's where
00:24:16.840 they'll end up with her in charge. But she's playing a deeper game. And again, it has lots
00:24:22.200 to do with trying to hurt Trump, hurt the U.S. economy and support Ukraine.
00:24:27.000 Let's talk about the three that fell for different reasons. South Korea, Syria, and now the Ukraine.
00:24:36.680 You take them in any order you want, but we've got chaos throughout the world that's even above economics, sir.
00:24:43.160 Did I lose Jim? Okay, let's go ahead and let's go ahead and try to reboot him if we can. Jim Rikos,
00:24:59.480 let's bring in, do I have, do I have, in Rome, do I have Ben Harnwell? Ben, let's talk about,
00:25:05.400 you've got a lot to say about Ukraine. This Ukraine situation is, I think it's got to go to full stop.
00:25:11.720 President Trump has been very magnanimous. He's been talking about, hey, we need to,
00:25:15.720 we need to put down, we need to stop launching, laundering missiles. It turns out, believe it or
00:25:20.920 not, folks, President Trump said yesterday at the press conference, he was not consultant,
00:25:25.720 nor was he informed by the White House. This is what I say in the three lines of work, the Third World War,
00:25:31.720 the border invasion, and now the financial crisis. The financial crisis, it's, you know,
00:25:41.080 they're not even keeping Trump in the loop. In fact, they're doing things to hurt him. Give me
00:25:44.520 your assessment of Ukraine. Denver, if you very kindly put up the article, I'm talking from
00:25:50.760 foreign policy. This is their one headline, keep Ukraine out of talks to end its war. This is a
00:25:58.840 foreign policy, right? So, so for the, for the war in posse, it's not the national pulse or gateway pundit,
00:26:06.200 or human events or anything. This is basically, along with foreign affairs, these two magazines.
00:26:11.800 This is, if you read these magazines, you're basically hearing the international rules-based
00:26:16.520 order talking amongst itself. Thanks very much, Denver. And here, for the first time,
00:26:23.240 is an article written by Anatole Leven, who's the director of the Eurasia program at the Quincy
00:26:29.480 Institute of Responsible Statecraft. But he's basically saying, it's the first time I have seen in
00:26:34.520 three years of following this Ukraine war. In the mainstream media, the idea that Zelensky
00:26:40.040 himself is an obstacle to peace. Now, obviously, for the war in posse, we know this.
00:26:46.520 It's sort of, what's the newsflash here? But it's interesting to see now that in an organ,
00:26:55.000 in a magazine of this degree of responsibility, of authority, the argument is being made that
00:27:02.280 Zelensky needs to be sidelined. Specifically, Steve, I have to bring on the show this. Those
00:27:07.640 folks who follow me on Getter will know that I am pushing again and again and again this issue about
00:27:14.040 the security guarantees. This is something, for example, General Kellogg has been pushing as one
00:27:23.000 of the options for President Trump's consideration for negotiations.
00:27:28.520 No, no. Hang on, hang on, hang on. We can't give security guarantees. We can't give security guarantees
00:27:34.760 with American troops in Ukraine. Impossible. We can't give security guarantees in Syria. Ben,
00:27:40.360 just hang on for one second. I'll bring you back after the break. Birchgold.com.
00:27:45.000 End of the Dollar Empire, Modern Monetary Theory is our new installment. Make sure you sign up and get
00:27:53.160 it today. If you can't get to the .com, just take your phone out. Bannon at 98989. Just text it,
00:28:00.520 get all the free information about IRAs, 401ks, all of it from the specialist Philip Patrick and
00:28:06.040 the team at Birch Gold. Jim Rickards, Ben Harnwell with me after a short commercial break.
00:28:12.680 It's obvious. The unthinkable continues. Most Americans know something is very, very wrong.
00:28:27.240 The people in charge keep telling you that everything's fine and to stop noticing. But
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00:29:31.560 Here's your host, Stephen K. Mann.
00:29:36.680 OK, today at one o'clock, it's totally free, as is all our content. Grace will put this up on all of
00:29:43.560 our different platforms. There's going to be a committee in the present danger, China,
00:29:47.320 chair by Frank Gaffney, today, a webinar, Treacherous Transition. This goes through everything
00:29:52.600 the Xi Biden are doing on the transition. You're going to have Ben Burkwam is going to be there.
00:29:57.240 Captain, the great Captain James Fennell, George Raskley, Dave Walsh, Peter McElvenna,
00:30:04.360 Colonel Rob Maness, and many, many others are going to be talked about in detail. You don't want to
00:30:09.560 miss this. This is committee on the present danger. I think it's the last webinar of the year. Starts at
00:30:13.720 1pm will be on all of our different distribution platforms. Check with Grace Chong to find out
00:30:21.880 where. Jim Rickards. By the way, I got to spend a lot more time in the geopolitics of this, so I've
00:30:29.240 asked Ben Harnwell to get ready. He's going to join me in the six o'clock show tonight. Jim Rickards.
00:30:36.280 You know, this South Korean thing kind of came, and this is why you talk about, you know this,
00:30:41.800 you were kind of hung out in the CIA for a few years. I keep saying that the intelligence apparatus
00:30:47.720 is a disaster. Caught by surprise about what's going on in Germany. Caught by surprise of what's
00:30:52.840 going on in France. Caught by surprise of what's going on in Syria. Caught by surprise of what's
00:30:56.360 going on in Romania. Totally caught by surprise of what's happening in South Africa.
00:31:01.240 So, why, first off, what's going on in particular in a place like South Korea and in Syria? And why
00:31:09.160 does the intelligence apparatus seem like we're at the worst possible, particularly when President
00:31:16.440 Trump and folks are even looking at alternatives of doing bombing runs on the Persians' nuclear
00:31:22.600 capability, sir? Well, you're right about the intelligence community. It's been a long time
00:31:27.720 there. And it's not that they're stupid or incapable. It's that they have a hidden agenda.
00:31:32.200 So they're pursuing their agenda, not what Trump's proposing. We can't get John Radcliffe and Tulsi
00:31:38.520 Gabbard in there fast enough. Here's the thing with Syria. The notion that, you know, you've got these
00:31:44.280 rebels. They took Damascus. They're going to set up some government. The Biden White House,
00:31:48.440 actually. So why don't we have the UN and have a kind of a convention and get all the groups and come
00:31:53.000 up with the Constitution? Are you kidding me? There is no government in Syria. That's the point.
00:31:58.360 It's not even, you know, is it the Turkish government? Is it, you know, Alawite? Is it
00:32:04.440 these rebels? There is no government in Syria. That's very critical to understand. Turkey's going
00:32:09.960 to try to run the show, but they're not going to be able to. Their concerns really with the border,
00:32:14.920 the Kurds, and the extent to which the Kurds have interest inside Turkey. So yeah, that's a legitimate
00:32:21.160 interest for Turkey. But no one's in charge in Syria right now. Israel's taking what they want,
00:32:25.960 and why not? But I would look for much worse results coming out of Syria because of that
00:32:31.800 complete absence of any government. And ISIS is on the rise again. All the things that, you know,
00:32:36.520 Trump got rid of ISIS in a matter of months, actually, after several years of a rise under
00:32:41.800 Obama. But the intelligence community, they're still living with the legacy of Brennan,
00:32:45.880 you know, John Brennan and Hayden to some extent, which is they actually sympathize with Iran.
00:32:51.720 So yeah, if you sympathize with Iran, that's, this is the kind of result you get. On Ukraine,
00:32:57.880 just quickly, Biden has, what they're doing, if you're familiar with chess moves, this is called
00:33:04.680 a fork. And a fork is when I put my piece in a place, and I attack two of your pieces at once.
00:33:10.600 You can save one, but you're going to lose the other. So either way, you lose. So this is what they're
00:33:14.360 doing to Trump right now. There's something called the ghost fleet. Russia's exporting oil.
00:33:20.040 You know, they're putting it in tankers, not insured in London, whatever. They're working
00:33:24.280 around the sanctions and getting the oil out. Biden just put on sanctions that say the ghost
00:33:28.760 fleet cannot call on any port, you know, anywhere in the world, etc. They'll keep doing what they're
00:33:33.880 doing. But here's the dilemma for Trump. That's going to raise the price of oil. Russia can do the
00:33:38.280 workaround, but it's going to raise the price of oil. So you dump it in Trump's lap and you say,
00:33:42.600 if Trump removes the sanctions, he'll be a Putin puppet. But if he keeps the sanctions on,
00:33:47.480 they'll blame him for inflation. So that's a fork. You lose either way. The other one
00:33:52.520 has to do with the escalation of the war. We're firing missiles into Russia. Russia came back with
00:33:56.600 a Russian missile, which basically makes tactical nuclear weapons obsolete. This thing, it doesn't
00:34:02.440 blow things up. It turns them into dust. But everyone would have thought the U.S. would have got
00:34:07.400 the message that we're continuing to fire attackers into Russia. So again, this is going to be dumped
00:34:12.840 on Trump. So now if Trump continues that path, which is just aggressive escalation all along,
00:34:20.040 the Ukrainians are going to lose the war. That's just a matter of time. But Trump will get blamed
00:34:23.960 for it if the war continues. On the other hand, if Trump negotiates something, and why should Russia
00:34:29.320 give up any territory? It's a war. When you win wars, you get to keep stuff. That's what the U.S.
00:34:34.200 for policy establishment doesn't seem to understand. So if Trump negotiates the peace that Putin will
00:34:39.720 insist on, he'll be a Putin puppet. But if he continues the war, he'll get blamed for losing
00:34:44.440 the war. So what Biden's doing is very clever because they're putting Trump in the, as I said,
00:34:48.520 the fork. He has he has choices, but he's going to lose one way or the other. The solution for that
00:34:53.640 is for Trump to get ahead of it with education. Just say, talk to the American people and say,
00:34:58.200 here's what Biden's doing. It's not in our best interest. We need to get around it. And the third thing,
00:35:02.120 very quickly, you and I talked almost a year ago about stealing the Russian assets, U.S. lawfully
00:35:07.560 owned U.S., Russia's owned U.S. Treasury securities. They've been seized by the United States. That
00:35:13.720 happens all the time. But now they've actually been converted into a loan to Ukraine. They've been
00:35:18.760 stolen. And they had a little party in Janet Yellen's office. They got, I don't know if there was any
00:35:24.120 champagne there, but they were high fiving when they saw the wire transfer go through on the ledger,
00:35:28.200 etc. This is this is another nail in the coffin of the dollar. I'm not saying the dollar collapses
00:35:34.440 overnight. Actually, the dollar is quite strong right now, except relative to gold. But they're
00:35:39.000 they're destroying the U.S. dollar over time with with these by stealing these assets. So
00:35:45.960 Biden's doing everything possible to basically burn down the United States,
00:35:49.640 what I call the Viking funeral before Trump gets in. But Trump needs to be alert to it. I'm not sure
00:35:54.440 Walsh and General Kellogg are really, you know, quite as attuned to what Biden's actually doing
00:35:59.960 as they should be. I totally agree with you on that. Jim, where do people go to get access to
00:36:07.960 all your newsletters? The newsletters are amazing. You got general newsletters that give you overview
00:36:12.920 of geopolitics, capital markets. Then you have specialty. Plus, you have all your writings. Where do folks go?
00:36:18.360 Thanks, Steve. We have a landing page. It's called RickardsWarRoom.com. RickardsWarRoom.com. That's
00:36:26.280 R-I-C-K-A-R-D-S. RickardsWarRoom.com. You can go there and get our flagship newsletter,
00:36:31.720 strategic intelligence. And then beyond that, we have book offers and a lot more. So we hope people enjoy
00:36:36.680 it. Jim, glad to have you on here. Look forward to having you next week and do a
00:36:44.680 end of your summary. So thank you, sir. Thanks. Jim Rickards right there with the fall of these
00:36:52.520 governments. More fiasco. Do we have Johnson? I want to get back to the CR. We'll be covering this,
00:37:00.440 obviously, this afternoon and this evening. But this is another complete and total debacle. Let's go
00:37:06.680 ahead and play. I think it's Speaker Johnson at his press conference. Let's go ahead and play it.
00:37:10.120 Let me talk briefly about the funding of the government. The CR is coming together. Bipartisan
00:37:16.920 work is ongoing. We're almost there. We worked really hard to achieve consensus on a bill that
00:37:21.720 responsibly funds the government into March of next year. It'll go to March 14. And that date was
00:37:27.400 chosen because it coincides with the calendars of the House and Senate. And it makes sense for us to get
00:37:32.040 the appropriations done. But our aim is to do it early in the year, not wait till March. And all the
00:37:37.560 appropriators and the people on the committees of jurisdiction are already working to do that.
00:37:43.800 We've been working around the clock to get the CR done. It was intended to be, and it was until
00:37:49.640 recent days, a very simple, very clean CR, a stopgap funding measure to get us into next year when we
00:37:56.040 have unified government under the Republican Party. But a couple of intervening things have occurred.
00:38:02.200 We had, as we say, as we describe the Max of God, we had these massive hurricanes, as you know,
00:38:07.880 in the late fall, Helene and Milton and other disasters. We have to make sure that the Americans
00:38:13.240 that were devastated by these hurricanes get the relief they need. So we are adding to this a disaster
00:38:18.600 relief package. And that's critically important. Also important is the devastation that is
00:38:24.200 that is being faced by our farming community. The agriculture sector has really struggled.
00:38:29.800 They've had effectively three lost years. And commodity prices are a bit of a mess. And you've
00:38:37.080 got input costs that are skyrocketed because of biodynamics. You put all those factors together,
00:38:41.640 droughts and all the other conditions. And you have a lot of small family farms and
00:38:46.200 ranches and people who supply the food for the country in dire straits right now. And so Congress
00:38:51.000 recognizes that need. And so we've had to add a little bit to that as well. So what would have
00:38:55.800 been a very skinny, very simple, clean CR has been at these other pieces have been added to it and a
00:39:02.440 couple of things that are related to all that. But I'm not going to get into much more detail
00:39:07.480 because it's almost done. But we do expect text today. And we are going to try. Let me answer your
00:39:12.120 question in advance. We are, I believe in the 72 hour rule rule, I've said that to all the House
00:39:17.080 Republicans this morning, I believe we ought to try to pass this on a rule to go through regular
00:39:22.520 process. We're committed to all of that. We're going to take care of these obligations and get
00:39:26.440 this done. And then we're going to go to work in unified government in the 119th Congress.
00:39:30.920 It begins in January.
00:39:34.120 Okay. I'm not so sure that's accurate, but I'm open to having a chance because we've been
00:39:37.960 doing the show. I'll look at it. I think it's more
00:39:39.960 more than the emergency for the farms and the, and the, and the, uh, and the, and the hurricanes
00:39:45.320 and such. But then still we're talking 90 days, December 20th, January 20th, the February 20th,
00:39:53.240 the March 20th, it's 90 days. It's 90 days. Now I understand something hurricanes, maybe something
00:40:00.120 the farms, but if that needs to be done sometimes within 90 days and you can't find the money elsewhere,
00:40:06.200 you're still schloffing around, right? You're telling me, okay, maybe a tiny couple of lines
00:40:15.640 on that. That's not what I'm hearing is in this. And people are, they're in an uproar because they
00:40:20.200 weren't brought into this process. And I hear that there's free trade for the Haitian t-shirts
00:40:27.000 or whatever. I'm sure that's just a minor thing, but I just don't trust Johnson on this. I don't trust
00:40:32.600 Johnson that you're just hearing about it now, that it gets just dropped now. So we're going
00:40:37.960 to look into this, uh, and if it should be supported, obviously the worm supportive,
00:40:41.800 it shouldn't be supported. It won't be my bigger and deeper concern is that under Johnson,
00:40:50.840 we're about to hit a firestorm with huge. I mean, the whole 2025 spending package, including
00:40:58.760 what Vivek and Elon and, you know, you're not going to wait a couple of years to do Doge.
00:41:03.880 President Trump wants it done now. And that would be, this is the whole reason we're doing the CR,
00:41:08.360 to kick the thing into when President Trump takes over. And these cuts are going to be substantial.
00:41:14.840 The reorganization will be substantial. They're talking about eliminating entire departments,
00:41:18.280 which is the way you have to do if you want to cut. Remember, it's programs and departments and
00:41:22.040 billets, not really about individual people and not about little teeny, you know,
00:41:29.000 research and things like waste, fraud and abuse. It's deeper than waste, fraud and abuse. It is
00:41:33.720 exactly what you are trying to accomplish in the government. And you're trying to accomplish two
00:41:37.720 months from the, from the hegemony of the American empire, all the way to the nanny state
00:41:44.840 in everything in between. And that's where we're going to really need a heavy lift and people to
00:41:49.960 be brought into the process early. When we get to this, this is going to be also the afternoon
00:41:56.840 shows and it's going to be a big fight up on Capitol Hill. We're going to be all over it. I'll get a
00:42:00.680 chance to break this down after the, uh, after the morning shows. Uh, the great folks at silent,
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00:43:55.880 TNUSA.com slash Bannon. TNUSA.com slash Bannon. Here's your host, Stephen K. Bannon.
00:44:06.680 TNUSA.com slash Bannon. Okay, do I have Lindell or Thund? Okay, hang on a second. We're
00:44:14.600 heading out. We're going to be in Phoenix at Charley Kirk's AMFEST. Charley Kirk follows us here on
00:44:21.720 Reel America's Voice. Two hours of populist nationalism as only Charlie and the team over
00:44:27.640 it up they're absolutely fantastic posos after that with human events daily and then we're back
00:44:33.400 five to seven uh tonight um we're going to cover it we'll have a lot more coverage of this whole
00:44:39.300 cr fiasco up on capitol hill because of fiasco it is um amfest i think i'm speaking opening night
00:44:47.040 with tucker and don jr that's the 19th when everybody particularly any world or posse people
00:44:53.680 and we haven't i'm trying to figure it out right now we're going to hang together we're going to
00:44:57.900 figure it out we'll get uh we'll get to meet you guys get selfies do all that catch up with where
00:45:03.080 you are and hopefully do something either in the building or off site so we can have some time
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00:46:24.700 firestorm if you notice cash is now the one they talk least about that was the one they had the most
00:46:29.520 we put our shoulder we also got information out as i kept saying cash is i think the most qualified
00:46:35.060 we look at counter-terrorism and counter-intel that they've ever put up one way you see what
00:46:40.080 cash is thinking about hey how you have to sort this mess out and i said the other day it's going
00:46:45.180 to have to be sorted out we can't look the other way you got government gangsters his book but we did
00:46:50.020 a film about it just with cash i made this film very specifically so cash could actually present to
00:46:54.580 you in even a more accessible form than the book government gangsters you get that at war film
00:47:00.660 war room dot films we're going to put a lot of movies up and back into the production business
00:47:07.260 kind of my spare time we got a bunch of big announcements coming on films that we're working
00:47:11.260 on so go war room dot film i think that's singular people tell me film room dot film go check if it's
00:47:19.320 not then put films put an s on it but go check it out today you can get government gangsters look at
00:47:24.820 that share it over the holidays cash is confirmation hearings coming up i hope
00:47:30.260 early in january uh to get it all done also dan fluid who's my producer on that film and co-writer
00:47:36.480 um is uh we just he did a book the pictorial history of the war room it's stunning the photography
00:47:45.760 stunning uh but the writing is also great i didn't know dan was a writer but it's really magnificent
00:47:50.360 you get the whole sense of from the contributors that people put the show on over the last five years
00:47:55.780 it is a great i can't think of a better gift for the maggot crowd and it's a great put it on your
00:48:00.980 coffee table is a conversation piece you'll love dipping in and out of it that is uh the book uh was
00:48:06.700 it rogues rebels the pictorial history of the war room it's up on amazon or you can go to skyhorse
00:48:13.240 books check it out on the war room books really probably got a bunch of big announcements war room
00:48:18.060 books at the beginning of the year some stuff you're really going to get excited i'm so
00:48:21.420 pumped as you know i uh i love reading and uh we've done such the tony elaine lafferty and uh
00:48:29.140 tony lyons done such a great job of building the publishing arm uh mike lindell joins me mike
00:48:35.340 lindell it's the christmas season i think we're now this is the first day post free shipping is that
00:48:40.820 correct yeah but but see this is the last day we guarantee the shipping by christmas so this is
00:48:47.480 really important everybody this is the day you want to guarantee we give you guarantee that uh
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00:50:38.420 we've ever had um i spent all these last two weeks with irs attacking us again and we're getting through
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00:51:24.680 mike lindell we love you brother look forward to seeing you to promo code war room promo code war
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00:51:35.900 from the factory floor of my pillow mike lindell
00:51:40.820 saint john the evangelist takes us out with uh when the man comes around we're going to be back here at
00:51:46.900 5 a.m live stick around for charlie kirk jack pasoba we'll see you back here real america's voice in the
00:51:51.420 war room 5 p.m eastern standard time
00:51:53.820 do you ever think how can i work this hard and still be in debt the piles of overdue bills the
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00:53:16.960 that is donewithdebt.com do it today action action action will include things like preservatives
00:53:24.240 artificial ingredients and other additives that really aren't benefiting your health
00:53:28.500 so that's why we created sacred human really trying to fill this gap of quality supplements
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00:54:06.180 700,000 americans every year yes heart disease is the number one killer every year year in and year out
00:54:13.500 heart disease builds over time hypertension high blood pressure bad cholesterol diabetes all of it
00:54:18.840 affects our heart a healthy heart is key to being energetic as we get older it is never too early
00:54:26.580 to take care of your heart you see heart disease sneaks up on us you can start in your 30s and when
00:54:32.880 this happens you're at serious risk by the time you turn 60 if you want to take care of your heart
00:54:37.580 and those you care about please go to warroomhealth.com that's warroomhealth.com all one word warroomhealth.com
00:54:46.720 use the code warroom at checkout to save 67 percent of your first shipment that's code warroom
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00:54:58.920 go there today you need if you're going to be part of the posse you need a strong heart you need a lion's
00:55:05.040 heart how we're going to do that is with salty go there do it today check it out
00:55:10.020 you
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