Bannon's War Room - 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

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 0.98

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. 0.53

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. 1.00

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. 1.00

00:10:57.760 Because they keep digging deeper and deeper. 0.99

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. 0.99

00:12:06.580 And in some sense, they're just innocent fools in that regard. 1.00

00:12:11.040 There's blood certainly on their hands. 1.00

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.

00:14:47.120 You know what's never good?

00:15:01.500 When your nation's supposed authority on economic policy

00:15:05.100 completely misses the flashing red lights of impending inflation.

00:15:10.380 Now, Treasury Secretary Janet Yellen has finally admitted,

00:15:13.380 quote, there's been an unanticipated and large shocks to the economy

00:15:17.380 that have boosted energy and food prices

00:15:19.440 and supply bottlenecks that affected our economy badly

00:15:22.880 that I didn't, at the time, fully understand, end quote.

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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 0.99

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 0.95

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 1.00

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 0.63

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 0.68

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 0.98

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 0.99

00:27:58.400 other when I 0.88

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 0.88

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 0.80

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 0.88

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 1.00

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 1.00

00:37:14.220 a bitches in 1.00

00:37:14.920 Europe and get 1.00

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 0.98

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 0.98

00:42:01.260 off you will 0.92

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 0.93

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

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00:43:43.720 energy grid

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00:43:45.300 natural disasters

00:43:46.220 and the never

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00:44:58.340 do it today take

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00:45:00.120 getter has arrived

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00:45:02.600 taking on big tech

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00:45:14.640 technology no more

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00:45:16.820 data no more

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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 0.56

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 0.64

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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00:54:17.760 they put peter navarro in leg irons for

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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

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