Bannon's War Room - July 21, 2022


Episode 2020： Biden Gets COVID And How Safe Are His Treatments; The Lies Of The Administration; The Markets Crash Throughout Europe; Chaos Continues At The Southern Border


Episode Stats

Length

55 minutes

Words per Minute

136.83963

Word Count

7,566

Sentence Count

304

Misogynist Sentences

5

Hate Speech Sentences

16


Summary

Peter Navarro fills in for Stephen K. Bannon in court for his upcoming trial. Ari and Maggie talk about why it s a good idea to have someone else fill in for the former White House adviser. They also talk about Joe Biden and his obsession with vaccines.


Transcript

00:00:00.000 a legal strategy perspective. Is this about trying to get through this and get to an appeal?
00:00:06.060 Yeah. So actually, Steve Bannon was outside the courthouse just a little while ago and was
00:00:09.600 talking about how he still wants to testify. I believe we have some video of that now.
00:00:15.660 Of any person in the Trump administration, Stephen K. Bannon has testified, what,
00:00:21.940 30 hours in front of the Mueller commission, I think 20 hours in front of shift in the House
00:00:26.780 Intelligence Committee, in the SCIF, and then in front of the Senate Intelligence. I think over
00:00:33.020 50 hours of testimony, every time the exact same way. Executive privilege, lawyers engage,
00:00:38.900 they worked it out. And every time, every single time, more than anybody else in the Trump
00:00:43.900 administration, and quite frankly, even McGann and Reince, those guys, aggregate. Stephen K. Bannon
00:00:49.500 testified. If you are an indicted Trump aide going on trial, but you have a podcast, who fills in for
00:00:56.760 you when you're gone? I know it may seem like a smaller news question, but we do have the answer
00:01:01.620 with Steve Bannon in court for a trial where prosecutors rested today. The person filling
00:01:07.000 in for him is the other indicted Trump aide awaiting trial, former White House advisor, Peter Navarro,
00:01:14.100 who is facing a trial for the same type of charges, hiding evidence, defying the committee. But he is out
00:01:21.640 there, filling in for his co-indicted, if you will, and also attacking the committee.
00:01:28.280 Peter K. Navarro sitting in for Stephen K. Bannon today. What this kangaroo committee is doing
00:01:35.460 in their investigation is handing out unlawful subpoenas. Seven of the nine members, Democrats,
00:01:47.180 essentially participated in a coup d'etats.
00:01:53.820 They put Peter Navarro in leg irons for simply doing his constitutional duty. Now they want to put
00:01:59.080 Peter in prison for standing up for Donald Trump. Please go to Amazon right now and order Taking Back
00:02:05.160 Trump's America to help fund Peter's legal defense. Taking Back Trump's America provides a critical MAGA
00:02:11.360 blueprint to put Trump back in the White House in 2024 by Taking Back Trump's America on Amazon today.
00:02:18.760 If they can put Peter Navarro in prison, they can come for all of us.
00:02:24.120 Hey, Ari Melber, Peter Navarro in again. Hey, just throw me on your show anytime.
00:02:29.660 Just to set the record clear, long before the subpoenas were flying, and as I document in the civil suit I filed
00:02:43.060 on May 31, 2020, I was calling into question the political motives and legitimacy of the unselect committee.
00:02:56.760 And what do you want us to do, Ari? Just shut up now that we're being prosecuted? Is that what the, okay, so is that what you really want, Ari?
00:03:10.280 I don't think so. You're a journalist. You want to speak your mind. And I think it's important for the American people
00:03:17.300 in a thriving democracy, which we're trying to have. Just be in here for Stephen K. Band, and here I am.
00:03:27.560 And what we do here, Ari, on the War Room is serious, serious journalism, often way ahead of the curve.
00:03:38.460 And I'm going to demonstrate that once again, Ari, and I hope you'll quote me as I talk to the great Doc Malone here today
00:03:48.600 as we comment on the tragic comedy otherwise known as Joe Biden's infection with COVID.
00:03:59.360 Yeah, it's nothing to laugh about at one level. He's the president of the United States.
00:04:03.980 But as you'll see in this cold open, everybody inside that White House and health care bureaucracy
00:04:13.620 does nothing but lie to the American people in a way that endangers lives.
00:04:21.000 And Doc Malone, early on, in a series of three op-eds in the Washington Times,
00:04:26.720 which had the courage to print them when Twitter and Facebook were shutting everybody down
00:04:31.800 for any criticism of the vaccine. We predicted, we predicted that the universal vaccination forced
00:04:43.360 of the American people would lead to vaccine-resistant mutations that would boomerang back on people
00:04:52.900 who had not one vaccine, not two, but two and three boosters.
00:04:57.860 And that's what we got with none other than Joe Biden.
00:05:02.820 So as the intro to bringing in Doc Malone, Denver hit us now with the pack of lies in this package.
00:05:13.380 You're okay. You're not going to get COVID if you have these vaccinations.
00:05:18.620 Yeah.
00:05:18.800 We know that rebound COVID cases have been a concern in some individuals who take Paxlovid.
00:05:23.360 Are there any precautions you can take to try and prevent that? And how concerned are you that could
00:05:28.160 potentially hinder his return to the office?
00:05:31.460 That's a great question. So let me tell you what we know about rebound.
00:05:35.540 So we've looked at the clinical data on this because if you look at Twitter, it feels like everybody has rebound.
00:05:44.080 But it turns out there's actually clinical data. If you look at major health systems that have given out Paxlovid to tens of thousands of people,
00:05:49.480 rebound rates are around 5%. Some studies it says maybe 7-8%, some that say it's 2%, but it's in the single digits.
00:05:56.660 So it happens. It's not that frequent. But here's the key point about rebound, which is when people have rebound,
00:06:02.380 they don't end up in the hospital. They don't end up particularly sick.
00:06:05.600 An interesting course that I think is becoming more and more typical, the more clinical experience we get.
00:06:15.820 I turned positive about two weeks ago with very minimal symptoms.
00:06:23.280 When they increased, given my age, I went on Paxlovid for five days.
00:06:28.120 And I felt really quite well, just a bit of rhinorrhea and fatigue.
00:06:34.340 And after I finished the five days of Paxlovid, I reverted to negative on an antigen test for three days in a row.
00:06:42.860 And then on the fourth day, just to be absolutely certain, I tested myself again.
00:06:47.460 And I reverted back to positive by the antigen test.
00:06:52.800 So it was sort of what people are referring to as a Paxlovid rebound.
00:06:57.580 And then over the next day or so, I started to feel really poorly.
00:07:02.460 Oh, man.
00:07:06.000 OK, so Biden lies.
00:07:07.720 You can't get COVID if you take the vaccine.
00:07:10.200 That second hack in the White House breathing room looks America in the eye and says, well, if you have the Paxlovid rebound, you're not going to get really sick.
00:07:23.980 And then Fauci contradicts him with his own Paxlovid rebound where, oh, he felt horrible.
00:07:30.820 You know, Schadenfreude is alive and well here in the war room today.
00:07:37.500 But too many people's lives are at stake in this whole thing.
00:07:44.920 You know, hey, hydroxychloroquine, there was no rebound with hydroxy.
00:07:50.220 It took care of things.
00:07:51.060 Anyway, I want to bring in Doc Malone right now.
00:07:55.080 As I said earlier, Doc and I wrote three op eds in The Washington Times, which laid out the case that forced universal vaccinations would create mutants and cause trouble.
00:08:08.420 Doc, you saw the cold open.
00:08:10.740 You saw the news.
00:08:12.280 What's your top line take on this?
00:08:17.460 The government lies almost continuously about everything that has anything to do with COVID.
00:08:22.780 They can't help themselves.
00:08:24.240 They lie and they lie and they lie.
00:08:27.380 And I think most of us have caught them at it enough times now.
00:08:31.800 And those, you know, the war room viewers, the war room posse has seen this happen, has seen this whole story play out from the get go.
00:08:43.640 And Peter and I, Peter is kindly referring to the Washington Times op eds that we put together, that the Washington Times was attacked by Facebook.
00:08:55.280 Everything we said has come to pass.
00:08:58.060 But those that have been watching the war room, remember that Peter and I first spoke about this together with Steve even earlier, weeks before that.
00:09:08.520 This is nothing new.
00:09:09.740 And the other thing about this now, fast forward to the present.
00:09:15.300 Science magazine review recently clearly explicitly states Paxlobin is a problem.
00:09:25.820 We, and I just, I'll just get into this in a moment.
00:09:30.540 The virus is mutating to escape Paxlobin.
00:09:33.000 There's multiple pathways that it's doing it by.
00:09:35.580 This protease inhibitor should be reserved, just as Peter and I said about the vaccines.
00:09:43.640 It should be focused only on those that are at high risk.
00:09:47.540 How do we know this?
00:09:49.200 Not only because of the mutations and the escape mutants from Paxlobin now, not just the vaccine,
00:09:55.860 but Pfizer itself dropped its clinical trial of Paxlobin in people of average risk because it wasn't working.
00:10:06.240 Okay.
00:10:06.740 Pfizer dropped the trial because it didn't work in people of average risk.
00:10:12.640 We should not be giving this drug to Tony Fauci.
00:10:16.000 We should not be giving it to the average person.
00:10:19.160 Tony had this rebound and even worse disease.
00:10:23.600 And he was breeding in doing that.
00:10:26.280 He was breeding viral escape mutants to this protease inhibitor.
00:10:30.520 He should have known better.
00:10:31.640 It has plagued the entire AIDS field from the get-go.
00:10:36.200 This same exact problem.
00:10:38.300 Again, they just don't learn.
00:10:41.260 They won't back down.
00:10:43.400 They won't admit defeat.
00:10:45.360 They just dig deeper and deeper and deeper.
00:10:48.200 And I got to say it again.
00:10:49.980 Somebody has got to go over there and teach those idiots the first rule of holds, which is when you're in one, stop digging.
00:10:57.760 Because they keep digging deeper and deeper.
00:11:00.880 They will not admit that their arrogance, their willingness to suspend normal scientific review, to take input from third parties, has resulted in massive, unnecessary loss of death due to what we now know was Deborah Birx parroting the propaganda from the CCP,
00:11:27.020 imposing all these mask mandates on us, imposing remdesivir because of her aid, pushing it to her.
00:11:34.700 What we have learned over the last two weeks, I find stunning.
00:11:40.380 And we are in a situation in which we have the worst case of groupthink.
00:11:46.920 This is worse than the Bay of Pigs.
00:11:49.000 This is the worst case of U.S. government groupthink I think there's ever been.
00:11:54.480 It's profound.
00:11:55.460 Let me ask you a quick question here.
00:11:57.940 Your hypothesis is that these people simply want to ignore the evidence.
00:12:04.120 They won't learn.
00:12:06.580 And in some sense, they're just innocent fools in that regard.
00:12:11.040 There's blood certainly on their hands.
00:12:13.500 But it's like, yeah, they're just not smart enough to learn.
00:12:16.660 But let's remember, and I go back to the hydroxy debate, Paxlovid is a Pfizer drug.
00:12:26.720 The company making the most out of the vaccine is Pfizer.
00:12:31.600 And it was Pfizer who helped kill, for example, therapeutics like hydroxychloroquine, like ivermectin,
00:12:41.740 like a whole slew of therapeutics.
00:12:46.680 Could it simply be the alternative hypothesis that there's just too much money at stake
00:12:52.860 and all these people are making a bunch of money?
00:12:54.580 I mean, all the mainstream media makes a bunch of money from Pfizer's commercials.
00:12:59.960 Fauci has got that stock or somehow gets money.
00:13:05.280 Facebook does.
00:13:05.940 We've got about a minute before break and we'll come back.
00:13:09.140 But wax eloquent on the profit motive here and how much money is really at stake,
00:13:14.360 weighed against the lives of the American people.
00:13:18.440 The vaccines are the most profitable product in the history of modern medicine.
00:13:23.880 Clearly, Pfizer has a long history of being a criminal organization.
00:13:28.660 The case can be made that that's a feature, not a bug.
00:13:31.500 In this context, Fauci is making he will retire next year or the year after with a pension,
00:13:40.500 annual pension payout that is greater than the salary of the president of the United States.
00:13:46.140 His wife makes more currently than the vice president of the United States.
00:13:51.680 They get money kickbacks through the Bayh-Dole Act for the patents that they hold, that he holds,
00:13:59.060 and the NIH hides which patents from whom.
00:14:03.600 The corruption is profound.
00:14:06.440 The money is actually pretty significant.
00:14:09.280 But, Peter, I'm not convinced that this is about money.
00:14:13.140 I think you're right.
00:14:14.800 This is an attack on the United States by the CCP.
00:14:19.780 And whether or not Deborah Birx was aware of it,
00:14:23.160 she functionally acted as an intelligence operative of the CCP in repeating their...
00:14:30.020 Doc, we're going to start with that when we come back in the B Block.
00:14:34.460 We are in the War Room.
00:14:36.000 I'm Peter K. Nabarro for Stephen K. Band,
00:14:39.140 and this is the most popular podcast in politics in the world.
00:14:44.740 We'll be right back with the great Doc Malone.
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00:15:17.380 that have boosted energy and food prices
00:15:19.440 and supply bottlenecks that affected our economy badly
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00:16:24.600 Hey, you're not going to get COVID
00:16:27.260 if you have these vaccinations.
00:16:29.640 We know that rebound COVID cases have been a concern
00:16:32.300 in some individuals who take Paxlovid.
00:16:34.480 Are there any precautions you can take
00:16:36.100 to try and prevent that?
00:16:37.440 And how concerned are you
00:16:38.500 that could potentially hinder his return to the office?
00:16:42.340 It's a great question.
00:16:43.460 So let me tell you what we know about rebound.
00:16:46.400 So we've looked at the clinical data on this
00:16:49.620 because if you look at Twitter,
00:16:52.920 it feels like everybody has rebound.
00:16:54.940 But it turns out there's actually clinical data
00:16:56.400 if you look at major health systems
00:16:57.760 that have given out Paxlovid to tens of thousands of people,
00:17:00.380 rebound rates are around 5%.
00:17:02.480 Some studies say it's maybe 7-8%,
00:17:04.520 some that say it's 2%,
00:17:05.740 but it's in the single digits.
00:17:07.540 So it happens, it's not that frequent.
00:17:09.660 But here's the key point about rebound,
00:17:11.840 which is when people have rebound,
00:17:13.280 they don't end up in the hospital,
00:17:15.020 they don't end up particularly sick.
00:17:16.560 An interesting course that I think is becoming
00:17:20.840 more and more typical
00:17:23.000 the more clinical experience we get.
00:17:25.600 I turned positive about two weeks ago
00:17:31.220 with very minimal symptoms.
00:17:34.180 When they increased, given my age,
00:17:36.800 I went on Paxlovid for five days
00:17:39.020 and I felt really quite well,
00:17:42.300 just a bit of rhinorrhea and fatigue.
00:17:45.500 And after I finished the five days of Paxlovid,
00:17:49.000 I reverted to negative on an antigen test
00:17:51.740 for three days in a row.
00:17:52.980 And then on the fourth day,
00:17:55.400 just to be absolutely certain,
00:17:56.960 I tested myself again
00:17:58.360 and I reverted back to positive
00:18:01.740 by the antigen test.
00:18:03.700 So it was sort of what people are referring to
00:18:06.180 as a Paxlovid rebound.
00:18:08.480 And then over the next day or so,
00:18:10.420 I started to feel really poorly.
00:18:11.980 Oh, man, this is going to be my favorite
00:18:17.740 three-pack of clips ever
00:18:21.000 on the COVID issue.
00:18:23.700 And you kind of wonder,
00:18:25.620 look, if this were like Donald Trump first,
00:18:29.020 where he says,
00:18:30.140 okay, get vaccinated,
00:18:32.320 you can't get COVID.
00:18:33.400 And then you had like our COVID czar
00:18:38.360 come on in the Trump White House
00:18:40.060 instead of this guy, Ashish Jha,
00:18:42.500 say, well, you won't get particularly sick
00:18:45.560 with a Paxlovid rebound.
00:18:48.000 And then you had the Foucher back there,
00:18:51.540 but not Foucher because he walks on water,
00:18:54.800 say, well, I took the Paxlovid
00:18:57.640 and boy, did I feel bad.
00:19:02.500 You know, three straight lies in a row
00:19:05.620 underscores just how dangerous
00:19:11.240 these people are,
00:19:13.160 just how dangerous these people are.
00:19:15.700 So I want to go back to Doc Malone.
00:19:18.240 We got a lot to talk about,
00:19:19.620 but I want you, Doc,
00:19:20.620 to focus first on the treatment of Joe Biden.
00:19:26.120 If you were in the White House
00:19:28.680 and Biden had gotten COVID,
00:19:33.560 what would you have been concerned about
00:19:35.900 giving them Paxlovid
00:19:37.160 versus monoclonal antibodies
00:19:39.220 versus, God forbid, hydroxychloroquine,
00:19:42.120 which works?
00:19:44.580 And are you concerned
00:19:46.020 that this Paxlovid
00:19:47.060 could have some side effects
00:19:48.660 other than creating dangerous mutants
00:19:50.720 that could interfere
00:19:52.280 with a cognitive function
00:19:53.880 already impaired in Joe Biden?
00:19:56.760 Doc Malone.
00:19:58.440 So I have not reviewed
00:19:59.660 the cognitive adverse events
00:20:01.720 associated with Paxlovid.
00:20:03.440 It does have subrenal toxicities,
00:20:05.840 which, of course,
00:20:06.460 can influence brain function
00:20:08.160 if you start having problems
00:20:09.960 with your kidneys.
00:20:11.440 The big problem here
00:20:12.940 is the fact that the gentleman
00:20:14.480 who appears,
00:20:16.180 by all measures,
00:20:17.300 in any objective observer,
00:20:18.880 to be well on the progression
00:20:21.180 towards various forms
00:20:23.000 of organic brain syndrome,
00:20:25.000 potentially with an ALS component.
00:20:28.280 You're talking about Biden,
00:20:29.940 to be clear.
00:20:31.100 But the virus itself
00:20:33.820 is likely to further exacerbate
00:20:37.680 his, any central nervous system
00:20:39.880 problems that he has.
00:20:41.480 The virus has been associated,
00:20:44.060 the infection,
00:20:44.620 with an increase
00:20:46.480 in belligerent behavior.
00:20:48.240 It has been associated
00:20:50.540 with a variety of problems
00:20:52.640 which Mr. Biden
00:20:53.780 seems to already suffer from,
00:20:55.500 including narcolepsy,
00:20:56.620 this falling asleep,
00:20:58.160 difficult paying attention
00:20:59.400 problem that seems to plague him.
00:21:02.800 I think that there is
00:21:05.620 a reasonable risk
00:21:07.660 that a already
00:21:10.080 cognitively compromised POTUS
00:21:13.060 may have further exacerbation
00:21:15.900 by this infection.
00:21:18.460 The Paxlovid,
00:21:19.880 as I mentioned,
00:21:20.860 is, we've,
00:21:22.500 the thing about this, Peter,
00:21:23.600 is they don't like me
00:21:24.940 to talk about it.
00:21:25.880 I used to sit on the
00:21:26.880 active committee,
00:21:27.860 which is this NIH-like entity
00:21:30.680 that was set up
00:21:32.260 using money
00:21:33.440 that the pharma
00:21:34.420 and Bill Gates
00:21:35.360 pumped into NIH
00:21:36.740 to run these trials.
00:21:38.400 I remember well
00:21:39.400 when the trials
00:21:40.120 for this particular drug
00:21:41.320 were being run
00:21:42.160 and when they were
00:21:43.340 being interpreted.
00:21:44.500 We knew at the time
00:21:45.640 that this drug
00:21:46.340 had significant problems
00:21:47.960 and that the data
00:21:49.600 are already outdated
00:21:51.760 at the time
00:21:52.340 there was authorization
00:21:53.260 because they were based
00:21:54.480 on earlier variants,
00:21:56.180 not on the currently
00:21:57.200 circulating variants,
00:21:58.780 many of which
00:21:59.340 already have mutations
00:22:00.640 that confer some degree
00:22:01.900 of resistance.
00:22:03.400 This is a known
00:22:04.740 problematic drug.
00:22:06.500 It was pushed out
00:22:07.600 far too prematurely
00:22:09.200 and it was expedited,
00:22:11.820 has been deployed
00:22:12.580 all over the United States,
00:22:14.260 should at worst,
00:22:15.780 at best,
00:22:16.940 be reserved
00:22:17.680 for only
00:22:19.240 those at highest risk.
00:22:21.640 The clinical data
00:22:22.980 from Pfizer
00:22:23.760 shows that it is
00:22:24.960 not effective
00:22:25.720 in patients
00:22:26.980 that are of average risk
00:22:28.340 and yet
00:22:29.240 just like
00:22:30.060 what was done
00:22:30.700 with remdesivir
00:22:31.740 and the vaccines,
00:22:33.480 the government
00:22:34.300 has chosen
00:22:35.260 to promote
00:22:36.260 this Pfizer product
00:22:38.480 for which Pfizer
00:22:39.840 is making,
00:22:41.000 of course,
00:22:41.300 enormous profits
00:22:42.080 on also
00:22:42.820 at the risk
00:22:44.460 of our entire population
00:22:46.060 and having individuals
00:22:49.140 like Tony
00:22:49.900 take this drug,
00:22:52.040 people that are
00:22:52.620 at moderate risk,
00:22:54.340 puts the elderly
00:22:55.180 at further risk,
00:22:56.280 those that might
00:22:57.520 need it most
00:22:58.600 because we will
00:23:00.200 evolve escape
00:23:01.600 use just like
00:23:02.380 we've done
00:23:02.740 with the vaccine.
00:23:06.100 Back when I was
00:23:08.140 the Defense Reduction Act
00:23:11.020 policy coordinator
00:23:11.940 in the middle
00:23:12.420 of the pandemic,
00:23:14.120 we had,
00:23:14.920 I don't know,
00:23:15.700 70 million doses
00:23:17.020 of hydroxychloroquine
00:23:18.720 on our hands
00:23:20.620 to possibly use
00:23:21.420 as a therapeutic.
00:23:22.160 I studied just
00:23:23.400 how it was
00:23:24.820 supposed to work
00:23:25.700 and what hydroxychloroquine
00:23:27.160 did,
00:23:27.620 it's a malaria drug
00:23:29.280 that's been proven safe
00:23:31.940 except for people
00:23:33.160 with certain heart ailments
00:23:34.860 for over 50 years.
00:23:36.480 It basically did
00:23:37.420 two things.
00:23:39.440 It raised
00:23:40.660 the alkalinity
00:23:41.760 of the cells
00:23:43.520 and thereby
00:23:44.080 killed the virus
00:23:45.700 so it reduced
00:23:46.840 its replication
00:23:47.660 or eradicated it
00:23:49.440 and it also
00:23:50.900 had this blocking
00:23:52.840 effect
00:23:53.480 in which
00:23:55.340 it made it
00:23:56.040 very difficult
00:23:56.760 for this
00:23:57.660 spike protein
00:23:58.920 to latch onto
00:23:59.780 a cell
00:24:00.220 and penetrate
00:24:00.800 the cell
00:24:01.820 so mechanically
00:24:03.020 it was very
00:24:04.060 straightforward
00:24:04.620 and chemically
00:24:06.120 it was not something
00:24:07.300 that could
00:24:08.020 particularly hurt you.
00:24:09.720 How does
00:24:10.180 Paxlovid
00:24:10.920 work?
00:24:11.880 What is the mechanism
00:24:12.820 there and why
00:24:13.520 is it possibly
00:24:14.380 the wrong drug
00:24:16.600 or dangerous
00:24:17.180 because you did
00:24:17.780 study this.
00:24:19.440 It is a protease
00:24:21.060 inhibitor
00:24:21.540 against one
00:24:22.180 of the two
00:24:22.580 key proteases.
00:24:23.680 You may recall
00:24:24.420 back in the day
00:24:25.960 when I was
00:24:26.680 helping lead
00:24:27.480 a team
00:24:28.040 for a
00:24:28.980 defense rate
00:24:29.440 reduction agency
00:24:30.380 we focused
00:24:32.200 I basically
00:24:33.240 directed the team
00:24:34.260 to focus
00:24:34.820 on repurposed
00:24:35.700 drugs
00:24:36.120 for one
00:24:37.540 of the two
00:24:38.100 main protease
00:24:39.020 inhibitors
00:24:39.740 and the
00:24:41.440 papain-like
00:24:42.060 protease
00:24:42.760 and that's
00:24:43.600 what led
00:24:44.080 to my
00:24:44.680 discovery
00:24:45.220 of
00:24:45.720 famotidine
00:24:46.480 as an
00:24:46.900 active agent.
00:24:47.640 that of
00:24:49.280 course
00:24:49.520 was also
00:24:50.320 trashed by
00:24:51.160 the press
00:24:51.720 and the
00:24:52.000 associated
00:24:52.300 press
00:24:52.860 and now
00:24:53.760 has been
00:24:54.280 validated
00:24:54.880 in multiple
00:24:55.400 clinical trials
00:24:56.980 as having
00:24:57.480 some
00:24:57.880 effectiveness.
00:24:59.260 The M-pro
00:24:59.960 has always
00:25:00.840 the main
00:25:01.260 protease
00:25:01.920 has always
00:25:02.600 been the
00:25:03.540 primary focus
00:25:04.740 of pharmaceutical
00:25:05.740 developers
00:25:06.680 seeking to
00:25:08.240 develop a
00:25:09.200 product that
00:25:10.360 would inhibit
00:25:11.000 coronavirus
00:25:11.580 replication.
00:25:12.700 It has a
00:25:13.040 number of
00:25:13.340 features that
00:25:14.320 lends itself
00:25:15.020 to that
00:25:15.560 but the
00:25:15.880 problem
00:25:16.240 is
00:25:16.660 this is
00:25:17.420 inside
00:25:17.860 baseball.
00:25:18.700 Sorry.
00:25:19.320 It's a
00:25:19.620 serine protease
00:25:20.420 and we
00:25:20.760 have many
00:25:21.320 serine
00:25:22.220 proteases
00:25:22.900 so the
00:25:23.780 challenge
00:25:24.160 is building
00:25:24.740 one that's
00:25:25.300 sufficiently
00:25:25.760 specific
00:25:26.380 and isn't
00:25:27.200 going to
00:25:27.420 have problems
00:25:28.380 with other
00:25:29.040 pathways.
00:25:30.660 The problem
00:25:31.500 with protease
00:25:32.340 inhibitors
00:25:32.900 is that it's
00:25:34.040 easy for
00:25:34.740 viruses in
00:25:35.520 general to
00:25:36.360 evolve to
00:25:37.020 escape them
00:25:37.920 particularly
00:25:38.660 in patients
00:25:39.200 that are
00:25:39.600 chronically
00:25:40.020 infected like
00:25:40.840 with AIDS
00:25:41.640 and in
00:25:42.820 those that
00:25:43.380 have been
00:25:43.680 immunocompromised
00:25:44.900 by too
00:25:45.660 many
00:25:46.000 inoculations
00:25:47.180 with these
00:25:48.580 products these
00:25:50.040 vaccine like
00:25:50.840 products that
00:25:52.200 are driving
00:25:53.000 this phenomena
00:25:53.820 called immune
00:25:54.720 imprinting.
00:25:56.260 So what
00:25:56.980 we've done
00:25:57.900 is create
00:25:59.820 this situation
00:26:00.740 where people
00:26:02.380 are getting
00:26:03.220 repeated
00:26:03.800 infection chronic
00:26:04.900 infection whether
00:26:06.180 they're immunosuppressed
00:26:07.380 or they're
00:26:07.880 multiply jabbed.
00:26:09.220 These are the
00:26:09.700 ones that are
00:26:10.260 going to evolve
00:26:10.780 the scape
00:26:11.300 mutants and
00:26:12.440 it is relatively
00:26:13.620 easy for
00:26:14.800 any of these
00:26:15.320 viruses to
00:26:16.580 escape any
00:26:17.480 of these
00:26:17.780 protease
00:26:18.280 inhibitors and
00:26:19.520 it's already
00:26:20.140 having with
00:26:21.020 this one so
00:26:21.980 we're basically
00:26:22.740 by using this
00:26:23.700 as a single
00:26:24.260 drug over
00:26:26.020 using it
00:26:26.820 we're once
00:26:27.960 again throwing
00:26:29.000 away one of
00:26:30.120 the weapons
00:26:30.640 that we have
00:26:31.560 for no good
00:26:32.760 reason just
00:26:33.560 because Tony
00:26:34.260 felt bad or
00:26:36.100 felt like he
00:26:36.960 had to have a
00:26:37.720 drug that was
00:26:38.820 not a reason
00:26:39.420 to use it.
00:26:40.120 he should have
00:26:41.320 had monoclonal
00:26:42.140 antibodies
00:26:42.620 he probably
00:26:43.540 would have
00:26:43.820 recovered just
00:26:44.540 fine.
00:26:45.520 He's a healthy
00:26:46.100 spry young
00:26:47.160 guy at his
00:26:48.680 81 years
00:26:49.660 but he's in
00:26:52.180 pretty good
00:26:52.580 shape and
00:26:53.520 there's a high
00:26:54.180 probability that
00:26:55.120 he would have
00:26:55.580 just handled
00:26:56.040 this fine.
00:26:57.280 All of this
00:26:57.780 logic oh
00:26:58.920 if you know
00:26:59.560 like Gavin
00:27:00.000 Newsom well
00:27:01.060 thank heavens I
00:27:01.880 had that vaccine
00:27:02.560 or Justin
00:27:03.060 Trudeau I mean
00:27:03.640 the list goes
00:27:04.180 on and on.
00:27:04.640 If there's
00:27:06.220 proof that
00:27:06.680 there's a
00:27:07.040 God it's
00:27:08.040 all of the
00:27:08.700 people that
00:27:09.200 have been
00:27:09.420 pushing the
00:27:09.960 vaccine that
00:27:10.540 have gotten
00:27:10.980 infected.
00:27:13.080 But it's
00:27:14.020 all the same
00:27:14.580 thing.
00:27:15.600 Thank God
00:27:16.520 I took the
00:27:16.980 check on
00:27:17.220 that Ari
00:27:17.760 Melber.
00:27:19.140 This is what
00:27:19.880 we do.
00:27:20.360 By the way
00:27:20.840 this is what
00:27:21.480 we do on
00:27:22.020 the war room
00:27:22.640 Ari Melber.
00:27:23.480 This is
00:27:23.980 serious
00:27:24.740 analysis
00:27:26.680 that speaks
00:27:28.420 right to the
00:27:29.120 heart of the
00:27:29.580 healthy American
00:27:30.280 people.
00:27:31.180 Doc Malone
00:27:31.560 you are forever
00:27:32.580 on point.
00:27:33.420 I think the
00:27:33.800 rule here is
00:27:34.580 that the
00:27:34.920 cheaper the
00:27:35.880 drug to
00:27:36.480 possibly treat
00:27:37.300 something the
00:27:37.940 less likely it
00:27:39.120 will be used
00:27:39.860 like the
00:27:40.240 mididine.
00:27:41.340 Doc give
00:27:42.060 them your
00:27:42.540 social media
00:27:43.800 coordinates and
00:27:44.580 we always
00:27:44.960 appreciate having
00:27:46.400 you on the
00:27:46.920 war room.
00:27:47.340 You got 20
00:27:47.760 seconds with the
00:27:48.400 last word in
00:27:49.040 your coordinates.
00:27:51.340 Well like I
00:27:52.540 said the other
00:27:53.060 day I'm not on
00:27:54.960 Twitter because I
00:27:56.080 had enough of
00:27:56.860 monkeys throwing
00:27:57.500 feces at each
00:27:58.400 other when I
00:27:59.000 was a young
00:27:59.620 researcher.
00:28:01.940 Getter is my
00:28:03.320 preferred platform.
00:28:04.580 R.W.
00:28:05.760 Malone
00:28:06.040 M.D.
00:28:07.040 Please the
00:28:08.040 sub stack
00:28:08.780 R.W.
00:28:09.940 Malone
00:28:10.200 M.D.
00:28:11.020 sub stack
00:28:11.500 dot com.
00:28:12.240 We put them
00:28:12.520 out daily and
00:28:13.680 we put a lot
00:28:14.160 of work into
00:28:14.720 it.
00:28:15.480 All right my
00:28:15.900 brother I
00:28:16.320 didn't realize
00:28:16.800 you were good
00:28:17.340 at comedy.
00:28:18.120 Comedy is hard
00:28:18.800 but you did
00:28:19.680 good today.
00:28:21.060 Peter Navarro
00:28:21.600 out.
00:28:21.860 Hey did you
00:28:24.920 hear where this
00:28:25.480 Arizona real
00:28:26.520 estate agent
00:28:27.080 found the
00:28:27.500 home she
00:28:27.820 lived in
00:28:28.340 listed for
00:28:29.180 sale.
00:28:30.000 Hey the
00:28:30.900 problem was
00:28:31.620 she wasn't
00:28:32.620 selling her
00:28:33.300 home.
00:28:33.680 She was the
00:28:34.060 victim of
00:28:34.520 home title
00:28:34.980 fraud.
00:28:35.640 A devastating
00:28:36.320 crime happening
00:28:37.160 all over the
00:28:37.640 country.
00:28:38.640 According to
00:28:39.080 the expert at
00:28:39.880 home title
00:28:40.740 lock the crime
00:28:41.940 is incredibly
00:28:42.540 profitable and
00:28:43.240 hard to detect.
00:28:44.400 An identity
00:28:44.840 thief simply
00:28:45.600 fakes a title
00:28:46.820 transfer for
00:28:47.920 your home and
00:28:48.620 refiles it as
00:28:49.360 the new
00:28:49.660 owner.
00:28:50.680 Then he
00:28:50.980 takes out
00:28:51.380 loans on
00:28:51.900 your home or
00:28:52.840 sells it.
00:28:54.360 Typically
00:28:54.740 identity theft
00:28:55.640 services don't
00:28:56.460 cover you and
00:28:57.520 neither does
00:28:58.120 homeowners insurance
00:28:58.860 but home title
00:28:59.900 lock does.
00:29:01.400 Home title
00:29:01.760 lock puts a
00:29:02.280 barrier around
00:29:03.160 your home's
00:29:03.680 title.
00:29:04.380 The instant
00:29:04.820 they detect
00:29:05.400 anyone tampering
00:29:06.120 with your
00:29:06.440 home's title
00:29:06.880 they help shut
00:29:07.780 it down and
00:29:08.500 help get your
00:29:09.260 home back in
00:29:09.960 your name.
00:29:11.240 Here's what
00:29:11.560 you should do.
00:29:12.520 Go to
00:29:12.820 home title
00:29:13.800 lock dot com
00:29:15.080 and read the
00:29:15.820 testimonials from
00:29:16.840 FBI agents and
00:29:17.940 government officials.
00:29:18.840 Then write
00:29:19.360 register your
00:29:20.100 address to see
00:29:20.740 if you're
00:29:21.040 already a
00:29:21.460 victim and
00:29:22.200 don't even
00:29:22.560 know it.
00:29:23.580 And when you
00:29:23.920 protect your
00:29:24.440 home tell
00:29:25.500 them Steve
00:29:25.940 Bannon sent
00:29:26.540 you to get
00:29:27.000 your free
00:29:27.620 30 days of
00:29:28.980 protection.
00:29:29.880 Home title
00:29:30.360 lock dot com
00:29:31.280 home title
00:29:32.120 lock dot com
00:29:33.100 30 days free
00:29:35.080 protection if you
00:29:36.120 do it today.
00:29:37.800 They put Peter
00:29:38.300 Navarro in
00:29:38.960 leg irons for
00:29:39.740 simply doing his
00:29:40.560 constitutional duty.
00:29:42.360 Now they want
00:29:42.760 to put Peter in
00:29:43.400 prison for
00:29:43.920 standing up for
00:29:44.660 Donald Trump.
00:29:45.980 Please go to
00:29:46.600 Amazon right now
00:29:47.820 and order
00:29:48.440 taking back
00:29:49.060 Trump's
00:29:49.420 America to
00:29:50.320 help fund
00:29:50.860 Peter's legal
00:29:51.500 defense.
00:29:52.660 Taking back
00:29:53.100 Trump's
00:29:53.460 America provides
00:29:54.400 a critical
00:29:54.920 MAGA blueprint
00:29:55.620 to put Trump
00:29:56.720 back in the
00:29:57.260 White House in
00:29:57.880 2024 by taking
00:29:59.960 back Trump's
00:30:00.640 America on
00:30:01.360 Amazon today.
00:30:02.640 If they can put
00:30:03.360 Peter Navarro in
00:30:04.220 prison they can
00:30:05.460 come for all of
00:30:06.280 us.
00:30:06.660 The European
00:30:07.300 Central Bank
00:30:08.000 out with its
00:30:08.660 latest interest rate
00:30:09.720 decision.
00:30:10.320 Steve Leisman
00:30:11.000 joins us now.
00:30:12.100 Just a couple
00:30:12.700 days before they
00:30:14.600 had done a lot
00:30:15.320 of signaling
00:30:16.460 in the June
00:30:17.360 meeting that
00:30:17.740 it would be
00:30:18.080 25 and then
00:30:19.320 they got a
00:30:19.980 hotter than
00:30:20.480 expected inflation
00:30:21.300 report and here
00:30:22.260 they are doing
00:30:22.940 50.
00:30:24.580 It is 50.
00:30:25.200 Thank you very
00:30:25.760 much in the
00:30:26.260 back room there.
00:30:29.780 Peter K.
00:30:30.580 Navarro in
00:30:31.200 for Stephen
00:30:32.000 Caban and we
00:30:32.820 are here in the
00:30:33.760 war room and
00:30:35.040 what I want to
00:30:35.600 do here and
00:30:36.120 what we
00:30:36.460 affectionately
00:30:37.140 call the C
00:30:37.900 block that's
00:30:38.680 the bottom of
00:30:39.640 our first block
00:30:41.200 is to do
00:30:43.340 what we
00:30:43.720 often do
00:30:44.320 here in
00:30:45.500 the war
00:30:45.900 room which
00:30:46.460 is to take
00:30:47.060 a deep
00:30:47.600 dive on
00:30:48.980 the economy
00:30:49.720 so that
00:30:50.720 we all
00:30:51.540 as deplorables
00:30:52.560 and posse
00:30:53.860 have a
00:30:54.240 better
00:30:54.460 understanding
00:30:55.220 of the
00:30:55.800 serious
00:30:56.460 economic
00:30:57.480 conditions
00:30:58.620 that are
00:30:59.140 evolving
00:30:59.840 around us.
00:31:02.080 You may
00:31:02.540 ask yourself
00:31:03.500 wherever you
00:31:04.900 are in this
00:31:05.760 country listening
00:31:06.540 to this
00:31:07.200 why do I
00:31:09.660 care
00:31:10.340 why I'm
00:31:11.000 interested in
00:31:12.520 whether the
00:31:14.160 European Central
00:31:15.140 Bank raises
00:31:16.660 interest rates
00:31:17.800 and I'm
00:31:19.820 here to
00:31:20.580 provide that
00:31:22.000 answer because
00:31:22.900 we are
00:31:24.360 for better
00:31:25.920 and often
00:31:26.680 worse in an
00:31:27.800 interconnected
00:31:28.440 global economy
00:31:29.700 and an
00:31:31.280 interconnected
00:31:32.340 international
00:31:34.120 financial and
00:31:35.800 currency
00:31:36.400 system and
00:31:39.100 what happens
00:31:40.320 in Europe
00:31:40.920 or China
00:31:41.680 or Brazil
00:31:43.900 doesn't stay
00:31:45.980 there.
00:31:47.060 It will
00:31:47.880 come onto
00:31:49.300 our shores.
00:31:51.160 So the
00:31:51.920 first thing I'll
00:31:52.460 tell you is
00:31:53.460 that the
00:31:54.960 European Central
00:31:55.760 Bank raising
00:31:56.740 their interest
00:31:58.060 rates for the
00:31:59.220 first time in
00:32:00.380 11 years.
00:32:01.700 Now parse that
00:32:02.400 for a minute.
00:32:02.880 First time in
00:32:03.460 11 years
00:32:04.220 they've raised
00:32:05.840 interest rates
00:32:06.660 they unexpectedly
00:32:07.660 raised them
00:32:08.720 by 50
00:32:10.880 basis points
00:32:12.020 a BIP
00:32:12.540 that's like 50
00:32:13.400 basis points
00:32:14.060 is a half
00:32:16.040 of a percentage
00:32:16.880 point.
00:32:18.560 And the
00:32:18.900 first thing you
00:32:19.460 have to
00:32:20.080 observe
00:32:21.080 is that
00:32:23.020 the ECB
00:32:24.360 the European
00:32:24.880 Central Bank
00:32:25.800 which represents
00:32:26.540 about 19
00:32:27.240 countries in
00:32:27.980 Europe in
00:32:28.780 this international
00:32:29.820 financial system
00:32:31.300 has not
00:32:33.980 right off the
00:32:34.820 bat been
00:32:35.460 anywhere near
00:32:36.360 as aggressive
00:32:37.740 as the
00:32:39.000 United States
00:32:39.900 because the
00:32:42.020 United States
00:32:42.580 has already
00:32:43.220 raised interest
00:32:44.300 rates far
00:32:45.020 higher than
00:32:46.140 a mere
00:32:46.560 50 basis
00:32:48.040 points.
00:32:49.100 Now here's
00:32:50.760 the teaching
00:32:51.680 point and
00:32:52.220 here's why
00:32:52.820 you should
00:32:53.520 want to
00:32:54.420 listen to this
00:32:55.120 and care
00:32:55.740 about this.
00:32:59.240 The value
00:33:00.760 of the
00:33:01.760 U.S.
00:33:02.400 dollars
00:33:02.920 that are
00:33:03.580 sitting in
00:33:04.140 your wallet
00:33:04.680 or in
00:33:05.360 your 401k
00:33:06.940 or in
00:33:07.560 the bank
00:33:08.200 is tied
00:33:11.120 to
00:33:12.460 other
00:33:13.600 currencies
00:33:14.320 around the
00:33:15.620 world.
00:33:16.260 So for
00:33:17.260 example
00:33:17.780 if the
00:33:19.040 dollar
00:33:19.560 strengthens
00:33:21.800 relative
00:33:23.900 to the
00:33:25.280 euro
00:33:25.720 meaning
00:33:28.600 that it
00:33:29.800 takes more
00:33:30.560 euros to
00:33:31.220 buy a
00:33:31.720 dollar
00:33:32.100 if the
00:33:32.960 dollar
00:33:33.240 strengthens
00:33:34.020 relative to
00:33:35.420 the euro
00:33:36.020 that's good
00:33:38.080 news in
00:33:39.620 one sense
00:33:40.340 it means
00:33:40.960 that you
00:33:41.480 have more
00:33:42.940 purchasing
00:33:43.620 power to
00:33:45.360 buy imports
00:33:47.860 from the
00:33:48.960 European Union
00:33:49.860 so that's
00:33:50.460 good in
00:33:52.500 that sense.
00:33:53.900 but
00:33:54.940 what that
00:33:57.040 also does
00:33:58.240 when the
00:33:58.940 dollar gets
00:33:59.720 stronger
00:34:00.500 relative
00:34:01.620 to the
00:34:02.880 euro
00:34:03.220 or relative
00:34:04.840 to the
00:34:05.300 Chinese
00:34:05.780 yuan
00:34:06.400 or relative
00:34:07.080 to the
00:34:07.500 Japanese
00:34:07.980 yen
00:34:08.560 it means
00:34:10.720 that
00:34:11.420 production
00:34:12.560 is relatively
00:34:14.540 more in
00:34:15.480 those countries
00:34:16.200 and we have
00:34:17.020 fewer jobs
00:34:17.920 and production
00:34:18.940 here.
00:34:19.460 So think
00:34:19.800 about it.
00:34:20.060 Let me say
00:34:20.440 that again.
00:34:21.320 Stronger dollar
00:34:22.160 more purchasing
00:34:23.420 power for
00:34:24.660 you buying
00:34:25.420 imports
00:34:26.060 but then
00:34:27.000 you buy
00:34:27.380 more imports
00:34:28.280 and if
00:34:30.160 you buy
00:34:30.720 a car
00:34:31.760 or you
00:34:32.220 buy food
00:34:33.140 or whatever
00:34:34.160 it is you
00:34:34.680 buy from
00:34:35.320 Europe
00:34:35.920 for example
00:34:36.840 you're not
00:34:38.580 buying here
00:34:39.240 in the
00:34:39.480 U.S.
00:34:39.960 dollar.
00:34:40.960 So a
00:34:43.000 strong
00:34:43.400 dollar
00:34:43.940 was never
00:34:46.480 something
00:34:46.960 that either
00:34:49.340 I or
00:34:50.280 President Trump
00:34:52.060 thought was a
00:34:53.780 particularly good
00:34:54.620 thing in the
00:34:55.200 White House
00:34:55.800 and when I
00:34:56.340 say we
00:34:58.420 preferred a
00:34:59.180 weaker dollar
00:34:59.980 not a
00:35:00.660 stronger dollar
00:35:01.540 I'm not saying
00:35:03.540 that we wanted
00:35:04.140 a fragile dollar
00:35:05.280 I don't want to
00:35:08.180 say that we
00:35:08.740 wanted a dollar
00:35:09.460 that would fall
00:35:10.020 apart or wasn't
00:35:10.860 credit worthy
00:35:11.600 it was just a
00:35:12.820 value term
00:35:13.580 because a
00:35:16.740 weaker dollar
00:35:18.660 would help
00:35:19.740 reduce our
00:35:22.840 trade deficit
00:35:23.740 our goods
00:35:24.520 they'd buy more
00:35:25.380 of our goods
00:35:25.880 we'd buy less
00:35:26.580 of theirs
00:35:26.980 that would help
00:35:28.160 build more
00:35:30.200 production
00:35:30.760 here our trade
00:35:32.180 deficit would go
00:35:33.060 down and that's
00:35:33.720 where the other
00:35:34.240 shoe drops
00:35:35.040 here yes a
00:35:37.020 strong dollar
00:35:37.740 raises purchasing
00:35:38.700 power and makes
00:35:39.620 imports cheaper
00:35:40.560 may help control
00:35:41.980 inflation a little
00:35:42.860 bit but over
00:35:44.680 time the
00:35:47.080 increase in the
00:35:48.040 trade deficit
00:35:48.820 is a direct
00:35:49.800 reduction in the
00:35:50.860 GDP growth rate
00:35:52.060 I mean if we
00:35:53.180 didn't have a
00:35:53.740 trade deficit
00:35:54.500 we'd be growing
00:35:55.700 anywhere from a
00:35:57.460 point to a
00:35:58.260 point and a half
00:35:59.040 or more higher
00:36:00.380 than we actually
00:36:01.260 are that's the
00:36:01.940 difference for
00:36:02.400 example during
00:36:03.660 the Trump
00:36:04.040 administration
00:36:04.500 between a
00:36:05.260 2% rate of
00:36:06.260 growth and a
00:36:06.840 3 or 3.5%
00:36:08.060 rate of growth
00:36:08.560 that's a huge
00:36:10.380 difference
00:36:10.920 so let's go
00:36:12.500 back now to
00:36:13.420 the European
00:36:14.460 Union's decision
00:36:15.840 to raise
00:36:17.580 interest rates
00:36:19.240 belatedly long
00:36:21.120 after the U.S.
00:36:22.180 started raising
00:36:23.060 interest rates
00:36:23.700 when the U.S.
00:36:24.840 started raising
00:36:25.620 interest rates
00:36:26.380 that started
00:36:27.440 strengthening the
00:36:28.440 dollar
00:36:28.780 why because
00:36:29.760 with higher
00:36:31.000 interest rates
00:36:32.220 relative to
00:36:33.380 other countries
00:36:34.200 around the
00:36:34.700 world foreign
00:36:35.820 capital floods
00:36:36.880 in the U.S.
00:36:38.360 financial markets
00:36:39.400 to buy
00:36:40.540 dollar
00:36:42.920 denominated
00:36:43.580 securities and
00:36:44.440 thereby earn the
00:36:45.240 relatively higher
00:36:46.060 interest
00:36:46.600 right so
00:36:48.980 what's been
00:36:50.180 happening is
00:36:51.200 as the Federal
00:36:52.160 Reserve has led
00:36:53.200 the world in
00:36:53.920 raising interest
00:36:54.740 rates our dollar
00:36:56.220 has been getting
00:36:56.900 stronger
00:36:57.440 our trade
00:36:59.520 deficit has been
00:37:00.400 going up
00:37:01.000 and our GDP
00:37:02.000 growth rate and
00:37:02.820 economy have been
00:37:04.340 getting weaker
00:37:05.380 and again if I
00:37:08.680 were in the
00:37:09.100 White House with
00:37:09.820 Donald Trump
00:37:10.500 we'd be sitting
00:37:11.080 in the Oval
00:37:11.520 Office and I'd
00:37:12.280 say boss
00:37:12.880 call those son of
00:37:14.220 a bitches in
00:37:14.920 Europe and get
00:37:16.100 them to match
00:37:16.740 our rate hikes
00:37:17.560 because if they
00:37:18.880 don't do that
00:37:19.720 they're going to
00:37:20.160 take advantage of
00:37:21.160 us in the
00:37:22.080 international trade
00:37:23.100 arena and by the
00:37:24.160 way they should
00:37:24.740 have raised them
00:37:25.240 long ago because
00:37:25.900 they got an
00:37:26.400 inflation problem
00:37:27.260 just like we
00:37:28.280 do here in
00:37:29.580 the US and
00:37:31.220 there's a there's
00:37:33.520 a game that's
00:37:34.720 played it's a
00:37:35.780 game of chicken
00:37:36.440 by central banks
00:37:37.380 around the world
00:37:38.200 it's like when
00:37:39.720 conditions require
00:37:41.440 interest rates to
00:37:44.220 go up to deal
00:37:46.580 with inflationary
00:37:47.700 problems there's
00:37:50.140 always a one or
00:37:51.740 two countries or
00:37:52.780 more who want to
00:37:54.160 let everybody else
00:37:55.060 go first so
00:37:56.420 that they can
00:37:57.200 benefit from a
00:37:58.040 weaker currency
00:37:58.780 and grow faster
00:38:00.540 than everybody
00:38:01.680 else and so
00:38:03.580 that's the kind
00:38:04.480 of game that
00:38:07.580 we're playing
00:38:08.220 right now and
00:38:10.280 unfortunately it's
00:38:13.620 a game that no
00:38:15.380 matter how it's
00:38:16.440 played we're going
00:38:18.160 to lose which is
00:38:19.220 which is the kind
00:38:20.180 of the second
00:38:20.900 war room teaching
00:38:22.280 point today which
00:38:24.140 is to say we
00:38:25.920 are not in a
00:38:27.360 world of a
00:38:29.560 Keynesian
00:38:30.380 inflationary spike
00:38:32.860 from pure demand
00:38:34.800 side issues
00:38:36.260 nor are we in a
00:38:38.420 pure Keynesian
00:38:39.400 recessionary world
00:38:41.560 where it's a
00:38:43.420 cyclical downturn
00:38:45.500 what we are in
00:38:48.080 is in as
00:38:50.860 as Steve has
00:38:52.340 talked about
00:38:53.020 as Steve Cortez
00:38:53.880 has talked about
00:38:54.680 as I warned
00:38:55.820 about earlier
00:38:57.660 probably than
00:38:58.460 anybody that
00:38:59.920 appears on the
00:39:00.700 financial programs
00:39:01.720 on Wall Street
00:39:02.400 we're in a
00:39:03.540 stagflationary
00:39:04.940 economy I
00:39:06.520 warned about
00:39:07.280 this back in
00:39:08.020 the White
00:39:08.420 House September
00:39:09.860 of 2020 I
00:39:11.500 wrote a wrote a
00:39:12.680 memo to Meadows
00:39:13.680 and the
00:39:13.980 president about
00:39:14.840 this it does
00:39:17.160 appear that
00:39:18.200 memo is published
00:39:18.960 in the new book
00:39:19.760 taking back
00:39:20.360 Trump's America
00:39:21.140 and what what I
00:39:23.020 said was and
00:39:24.640 it's it's it was
00:39:25.720 a prescient
00:39:26.580 forecast if I
00:39:28.040 might humbly say
00:39:29.040 that what I said
00:39:29.780 then was the
00:39:31.840 pandemic has
00:39:34.640 created structural
00:39:36.280 problems of a
00:39:38.320 significant magnitude
00:39:39.640 not just in this
00:39:41.200 economy but around
00:39:42.340 the world
00:39:42.900 that are going
00:39:44.700 to create
00:39:45.380 what's called
00:39:46.660 supply shocks
00:39:48.500 at the same
00:39:50.220 time that we're
00:39:50.880 going to risk
00:39:51.840 overreacting on
00:39:54.920 the demand side
00:39:56.020 with with
00:39:56.940 with possible
00:39:58.140 pork barrel
00:40:02.320 spending under
00:40:04.260 the guise of
00:40:05.120 lifting the
00:40:05.660 economy in the
00:40:06.420 middle of the
00:40:06.920 pandemic and
00:40:08.280 we're going to
00:40:08.720 wind up with
00:40:09.660 the 1970s style
00:40:11.560 scenario of
00:40:13.620 stagflation
00:40:15.600 what is it
00:40:16.820 it's
00:40:17.800 simultaneous
00:40:18.680 recession and
00:40:21.460 inflation and
00:40:22.920 the problem we
00:40:24.020 face now and the
00:40:25.760 Biden White House
00:40:26.680 needs to understand
00:40:27.660 it the European
00:40:28.720 Central Bank needs
00:40:30.420 to understand it
00:40:31.380 everybody in between
00:40:33.180 needs to understand
00:40:33.980 it you can't solve
00:40:35.820 the stagflationary
00:40:37.220 problem with
00:40:38.860 Keynesian tools
00:40:40.740 now what are the
00:40:41.400 Keynesian tools
00:40:42.160 there's only two
00:40:42.860 kinds right
00:40:44.000 it's fiscal policy
00:40:45.800 which is tax
00:40:47.300 policy and
00:40:48.320 spending policy
00:40:49.400 right you want to
00:40:50.900 stimulate a
00:40:51.640 get out of
00:40:52.480 recession you
00:40:53.120 spend more
00:40:53.660 cut taxes
00:40:54.500 monetary policy
00:40:57.020 is the other
00:40:58.280 Keynesian tool
00:40:59.440 you want to
00:41:00.220 stimulate out of
00:41:01.800 a recession
00:41:02.320 you cut interest
00:41:03.220 rates you want to
00:41:03.940 control inflation
00:41:04.780 you raise them
00:41:06.140 do you see the
00:41:08.680 obvious problem
00:41:09.540 here if we're not
00:41:10.520 in a Keynesian
00:41:11.380 world but rather
00:41:12.280 we're in a
00:41:13.000 structural
00:41:13.720 downturn
00:41:15.300 caused by
00:41:16.860 cost push
00:41:18.040 types of
00:41:19.220 pressures from
00:41:19.860 the pandemic
00:41:20.580 dislocations in
00:41:22.100 the labor
00:41:22.660 market coupled
00:41:23.660 with policy
00:41:24.880 catastrophic
00:41:26.420 failures for
00:41:27.680 example in the
00:41:28.580 energy sector
00:41:29.380 with Biden
00:41:30.080 basically taking
00:41:31.600 this country
00:41:32.160 from Trump's
00:41:33.160 energy into
00:41:33.860 dependence to
00:41:34.960 fist bumping
00:41:36.080 and begging the
00:41:36.760 Saudis for
00:41:37.760 more oil
00:41:38.380 you can't use
00:41:40.420 these Keynesian
00:41:41.920 tools if you
00:41:43.160 try to rely on
00:41:44.840 the Federal
00:41:45.280 Reserve in the
00:41:46.560 US or the
00:41:47.260 European Central
00:41:48.000 Bank in
00:41:49.000 Europe for
00:41:50.400 controlling
00:41:51.000 inflation and
00:41:52.580 you start raising
00:41:53.540 interest as the
00:41:54.500 ECB did today
00:41:55.680 and as the
00:41:56.580 Federal Reserve
00:41:57.240 has been doing
00:41:58.020 yes you will
00:42:00.180 you will choke
00:42:01.260 off you will
00:42:02.540 begin to choke
00:42:03.360 off growth
00:42:04.980 from that
00:42:06.160 right yeah
00:42:07.680 that'll work
00:42:08.580 but what did
00:42:10.180 I just tell
00:42:10.680 you if you're
00:42:11.620 if you're choking
00:42:12.520 off growth
00:42:13.420 then over
00:42:14.820 here what are
00:42:15.580 you doing to
00:42:16.220 the stag part
00:42:18.340 of the stag
00:42:18.860 inflation equation
00:42:19.680 you are creating
00:42:21.980 more recessionary
00:42:23.060 problems the
00:42:24.140 answer is
00:42:25.600 structural
00:42:26.580 structural and
00:42:28.760 when we come
00:42:29.720 back from the
00:42:30.500 break I'm
00:42:32.200 going to talk
00:42:32.600 a little bit
00:42:33.240 about how in
00:42:34.900 the Trump
00:42:35.260 administration we
00:42:36.240 managed to
00:42:37.800 create a very
00:42:39.360 sustained no
00:42:42.000 inflation
00:42:42.720 prosperous
00:42:44.340 environment with
00:42:45.580 rising real
00:42:47.340 wages and
00:42:49.280 GDP growth
00:42:51.940 real GDP growth
00:42:53.480 adjusted for
00:42:54.160 inflation that
00:42:56.060 consistently beat
00:42:58.240 the benchmarks
00:42:59.360 and forecasts
00:43:00.420 by the usual
00:43:01.600 suspects who
00:43:02.960 lived in a
00:43:03.700 Keynesian world
00:43:04.380 and did not
00:43:05.060 understand the
00:43:06.260 power of
00:43:07.280 Trumpian
00:43:07.740 economics
00:43:08.700 Peter K
00:43:09.520 Navarro in
00:43:10.320 for Stephen K
00:43:11.440 Bannon here
00:43:12.300 in the war
00:43:13.380 room we'll be
00:43:14.340 right back
00:43:14.880 years have
00:43:37.760 proven that we
00:43:38.400 need to be
00:43:38.840 prepared we
00:43:39.940 constantly see
00:43:40.660 government overreach
00:43:41.640 attacks on our
00:43:42.520 communication and
00:43:43.720 energy grid
00:43:44.300 worldwide conflict
00:43:45.300 natural disasters
00:43:46.220 and the never
00:43:46.960 ending assault on
00:43:48.460 our security and
00:43:49.160 privacy having
00:43:50.600 reliable communications
00:43:51.740 is essential
00:43:52.640 but don't get
00:43:53.760 caught without
00:43:54.720 reliable communication
00:43:55.900 and I'm here to
00:43:56.500 tell you your
00:43:57.640 fragile cell phone
00:43:59.200 simply won't cut
00:44:01.040 it it will not
00:44:02.080 cut it that's why
00:44:03.520 I've partnered with
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00:44:49.560 Bannon and get your
00:44:50.760 device today don't put
00:44:52.320 it off life can change
00:44:53.800 in an instant that's
00:44:55.080 sat123.com slash Bannon
00:44:58.340 do it today take
00:44:59.740 action
00:45:00.120 getter has arrived
00:45:01.080 the new social media
00:45:02.600 taking on big tech
00:45:03.820 protecting free speech
00:45:05.640 and canceling cancel
00:45:08.300 culture join the
00:45:09.780 marketplace of ideas
00:45:10.900 the platform for
00:45:12.300 independent thought has
00:45:13.400 arrived superior
00:45:14.640 technology no more
00:45:15.900 selling your personal
00:45:16.820 data no more
00:45:18.180 censorship no more
00:45:20.100 cancel culture enough
00:45:21.960 getter has arrived
00:45:23.540 it's time to say what
00:45:25.320 you want the way you
00:45:26.760 want download now
00:45:28.740 they put peter navarro
00:45:31.300 in leg irons for simply
00:45:32.540 doing his constitutional
00:45:33.760 duty now they want to
00:45:35.340 put peter in prison for
00:45:36.420 standing up for donald
00:45:37.480 trump please go to
00:45:39.100 amazon right now and
00:45:40.660 order taking back trump's
00:45:41.940 america to help fund
00:45:43.380 peter's legal defense
00:45:44.480 taking back trump's
00:45:45.960 america provides a
00:45:47.080 critical mega blueprint to
00:45:48.720 put trump back in the
00:45:49.780 white house in 2024 by
00:45:52.020 taking back trump's
00:45:53.140 america on amazon today if
00:45:55.340 they can put peter navarro
00:45:56.560 in prison they can come
00:45:58.200 for all of us
00:45:59.120 peter k navarro in for
00:46:03.200 stephen k bannon um in
00:46:05.180 the last segment we had
00:46:07.540 um an extended discussion
00:46:09.560 of the interconnectedness
00:46:13.160 of monetary policy across
00:46:15.940 the central banks of the
00:46:17.120 world uh based on the
00:46:19.360 news hook that the
00:46:20.380 european central bank
00:46:21.860 had raised their interest
00:46:24.740 rates by 50 basis points a
00:46:27.140 half a percentage point
00:46:28.400 and i explained um in that
00:46:31.200 segment how when
00:46:33.600 interest rates are raised by
00:46:37.460 a central bank say the
00:46:38.740 federal reserve here in the
00:46:39.860 u.s. or the ecb the
00:46:42.360 european central bank in
00:46:43.440 europe uh that will
00:46:45.380 strengthen the value of
00:46:48.400 that currency in that home
00:46:49.760 country and so um the ecb when
00:46:54.760 that when the european central
00:46:55.880 bank raises rates um it's
00:46:58.860 it's good for you in the
00:47:01.120 short run because it allows
00:47:02.520 you to buy cheaper imports
00:47:05.520 from europe because the
00:47:06.980 dollar will strengthen
00:47:08.300 relative to the euro but
00:47:10.500 it's really bad for you over
00:47:12.080 time because the stronger
00:47:14.580 dollar leads to a higher
00:47:16.180 trade deficit which reduces
00:47:18.000 our growth and implicitly
00:47:20.780 the production on domestic
00:47:22.760 soil um of goods and
00:47:26.600 i explained how we are in a
00:47:29.920 stagflationary environment
00:47:31.840 where simultaneous recession
00:47:35.880 and inflation is a condition
00:47:37.820 which is very uncommon which we
00:47:40.640 haven't seen since the 1970s
00:47:42.620 but structurally we have we have
00:47:45.900 found ourselves in uh because
00:47:48.680 of a combination of the
00:47:51.300 structural dynamics of the
00:47:53.320 pandemic itself coupled with the
00:47:55.560 very very bad policy choices of
00:47:59.640 joe biden and the biden regime
00:48:01.940 and and the and the people who
00:48:04.560 control both houses of congress
00:48:07.100 now the house and the senate who
00:48:09.380 have pushed forward these woke
00:48:12.520 policies that have simultaneously
00:48:14.380 ended the strategic dominance of
00:48:17.340 the united states at the same time
00:48:19.760 that they've thrown far too much
00:48:22.040 money um at pork barrel
00:48:25.380 initiatives that have simply been
00:48:28.620 uh a match to the tinder of the
00:48:32.020 inflation that has been building in
00:48:34.320 this economy and my my punchline to
00:48:38.520 all of this is is the the essence of
00:48:43.660 trumpian economics um is based on on
00:48:48.200 on maga principles and i i dive deep
00:48:51.440 into this in the taking back trump's
00:48:53.120 america book because it's important
00:48:55.600 for deplorable candidates and trump
00:48:59.760 candidates going into the 2022
00:49:01.800 election to understand this as well as
00:49:05.020 trump himself when we go forward in
00:49:08.140 2024 under the banner of trumpism to
00:49:11.920 understand what differentiates donald
00:49:14.180 trump and why he was the best
00:49:15.740 president in modern history on the
00:49:18.900 economy and it's all about structural
00:49:22.740 change not keynesian stimulus uh and
00:49:27.360 what i mean by that is that when we came
00:49:30.480 in uh to the white house in 2017 we had
00:49:35.280 a clear plan to build the economy some of
00:49:38.440 that structural approach was was dead in
00:49:42.520 with with the rhino world tax cuts
00:49:46.360 deregulation even strategic energy
00:49:49.340 dominance but what differentiated uh
00:49:53.360 trump was what i call in the taking back
00:49:56.640 trump's american book the iron triangle of
00:49:59.560 my maga which was an end analyst wars
00:50:01.960 securing our southern border and most of
00:50:04.900 all fair trade not just free trade and
00:50:09.740 what we need to do if we're going to
00:50:11.520 control these stagflationary forces we
00:50:15.660 need to get back to that trump future
00:50:18.080 embrace maga economic policies uh we'll
00:50:22.760 talk more about this as the week goes on i
00:50:25.020 want to spend just give oscar at the
00:50:27.060 border ben ben at the border just a
00:50:30.340 quick minute ben um
00:50:32.120 230 and we're out of this but you take a
00:50:35.760 minute and a half and uh and and what are
00:50:38.280 you seeing down there today
00:50:39.420 well i was out all night uh we're back in
00:50:44.340 yuma down here we've been traveling across
00:50:45.940 the border and basically the border's wide
00:50:48.600 open we no longer have a border the
00:50:50.540 cartels are controlling it in places like
00:50:52.040 this you have massive groups coming across
00:50:53.940 at night and down the road we were at a
00:50:56.380 place called san luis
00:50:57.260 all last night and they we had group after
00:50:59.840 group climbing the wall running in we were
00:51:01.580 actually chasing them trying to help border
00:51:03.320 patrol catch them because border patrol
00:51:05.580 doesn't have the resources to deal with it
00:51:07.360 because they're dealing with the millions of
00:51:09.700 people that are coming across in places like
00:51:11.260 yuma and del rio eagle pass in those places
00:51:13.260 it's it's completely out of control but the
00:51:15.400 worst part talking to ranchers down here and
00:51:17.180 some of the folks down here is uh they you know
00:51:19.320 they're telling me uh they believe this is the
00:51:21.360 plan and and this is what we we believe based
00:51:23.680 on the evidence this is not failed policy by
00:51:26.120 joe biden this is the policy of joe biden in
00:51:28.580 the open borders left
00:51:29.440 uh what is there anything that could be done
00:51:35.540 now other than getting the democrats the hell
00:51:38.560 out of office and and getting republicans and
00:51:41.000 trump back in i mean this is this is crazy
00:51:44.100 stuff this is crazy stuff yeah go ahead
00:51:46.600 every every every governor in the country needs
00:51:49.740 to enact an invasion policy they need to
00:51:51.800 uh use the constitution constitution very
00:51:53.840 clear in the event of invasion the states
00:51:55.960 have the not just the uh the obligation but
00:51:59.080 the duty to secure their own state we're
00:52:01.080 actually in arizona we're going to the trump
00:52:02.480 rally tomorrow and terry lake running for
00:52:04.600 governor says she will do that on the first
00:52:06.140 day but we need every governor in america to
00:52:08.580 do the same thing declare the invasion so that
00:52:10.800 these guys border patrol can do their job
00:52:13.120 all right we lost ben but that's that was
00:52:18.840 perfect because we're out of here it's uh
00:52:21.760 peter k navarro in for stephen k bannon you
00:52:25.180 are in the war room this is where we speak
00:52:28.120 truth to power this is where we are
00:52:30.520 consistently consistently headed the curve we
00:52:33.840 show that today with our interview with doc
00:52:36.520 malone uh and we'll see you again this week
00:52:39.880 you take care we are the war room
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