Bannon's War Room - September 30, 2022


Episode 2193： 3 In 5 Americans Think Inflation Is Getting Worse; The Housing Crisis And Energy Crisis Continue To Spiral Out Of Control; Chinese Police Are Surveilling Our Police Stations


Episode Stats


Length

54 minutes

Words per minute

179.36674

Word count

9,738

Sentence count

762

Harmful content

Misogyny

4

sentences flagged

Hate speech

18

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

What's the best strategy for the market right now? Is it time to add to equities? What s the best time to get out of stocks and into Treasuries? What's the worst time to be short the S&P 500 and Dow? What are the best times to buy bonds and put money in the bank? What should we look out for in a recession? How much worse will it get? How bad is it going to get? What is the worst thing that can happen to the market? What can we do about it?

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.320 They've got to be calling saying, what are we supposed to do?
00:00:03.340 How much worse do you think it's going to get?
00:00:05.240 What's the best strategy?
00:00:06.300 What do you say?
00:00:07.760 Well, Scott, as you know, we've been negative since all my appearances on Halftime.
00:00:11.880 We've been negative all year and events have been unfolding as we've been looking for.
00:00:16.880 In February, after Putin invaded Ukraine, we put out a client note saying if the markets
00:00:24.620 survive Putin, they still have to deal with Powell.
00:00:26.840 And that's exactly where we're facing right now.
00:00:28.780 So we don't think it's a time to get aggressive or add equities, even though prices have come
00:00:34.300 down.
00:00:34.800 We're in the midst of a period where the monetary landscape is changing and investors should
00:00:40.340 focus on the return of capital versus the return on capital.
00:00:44.960 So you're as negative as you've been.
00:00:47.400 You want to use any sort of rally to reduce positions that you may still have?
00:00:52.660 Yeah, absolutely.
00:00:53.260 So we've had nearly 15 years of an environment where there hasn't been a market determined
00:00:59.360 level of interest rates and interest rates are the traffic signals that basically control
00:01:04.740 the monetary highway.
00:01:05.980 And they've been flashing green for years.
00:01:08.240 That's led to a lot of leverage, excess speculation and rising asset prices.
00:01:13.120 Now everything's turning.
00:01:14.680 So in that turn, it's changing the dynamic of valuation.
00:01:19.700 And that's what we're facing right now.
00:01:21.480 How much worse do you think it's going to get?
00:01:23.460 I mean, you're painting a pretty nasty sounding scenario.
00:01:26.940 Well, lots of talk about recession.
00:01:28.460 OK, so we've got to think we price that in.
00:01:31.200 Not yet.
00:01:31.940 You know, even though we've had two quarters of negative GDP growth, six months of declining
00:01:37.200 leading economic indicators.
00:01:39.180 We've got credit card debt up 18 percent.
00:01:41.860 Housing is slowing.
00:01:43.080 We're slowing.
00:01:43.840 But we're not yet in recession.
00:01:45.260 Labor market's still really strong.
00:01:46.500 Labor market's strong.
00:01:48.120 And our expectation is that companies will be slow to lay off workers because there's
00:01:53.760 a labor shortage.
00:01:55.160 But nevertheless, expectation for earnings is going to go lower.
00:02:00.080 You like bonds better than stocks?
00:02:02.240 I like cash better than everything right now.
00:02:04.500 You have more cash now than you've had in how long?
00:02:07.240 Forever.
00:02:08.220 Really?
00:02:08.640 We have the highest cash positions we've had in years.
00:02:11.860 Look, let's look at the market.
00:02:12.900 Let's look at valuation.
00:02:14.100 There's sales, there's margins, and there's multiples.
00:02:17.220 All three are going to have to come down.
00:02:19.380 So sales have been elevated because inflationary push has gone through to consumers.
00:02:24.160 But that only lasts for so long.
00:02:25.980 Margins will be under pressure simply because of inflationary pressures and labor costs.
00:02:31.520 And then multiples, you know, where are they going?
00:02:33.660 Multiples have to be reset lower.
00:02:35.540 So put 15 times on 220 earnings on the S&P and you're at $3,300.
00:02:40.520 Oh, but you're still getting to 220.
00:02:43.240 Some people have $200.
00:02:44.800 Yeah.
00:02:45.260 Trenner's out for $200.
00:02:46.580 There's others that are all over the place.
00:02:48.780 But look, if we can look at different levels of market.
00:02:52.500 They quoted Jason Trenner, who's on the show a lot, too.
00:02:57.260 I want to go back to Steve Cortez.
00:03:00.440 Is he cribbing notes from the war room?
00:03:02.120 I just want to make sure people understand the buried leads here.
00:03:04.840 And Saperstein's one of the smartest guys on Wall Street.
00:03:06.680 Return of your capital, not return on capital.
00:03:12.040 Right.
00:03:13.320 We haven't had a market-determined interest rate in, what, 12 years, a decade, over a decade?
00:03:19.760 That means artificially low inflation rates.
00:03:22.540 I would argue not really in 20 years, Steve.
00:03:24.660 I mean, since the Y2K fiasco when Greenspan massively overreacted.
00:03:28.100 But yes, correct.
00:03:28.720 It's been at least a decade, probably two decades, since we've had market-determined interest rates.
00:03:33.640 I could go on and on, on the multiples.
00:03:39.260 And the coup de grace was, well, you like bonds more than stocks.
00:03:44.740 I like cash more than everything.
00:03:47.240 What's your assessment right there?
00:03:49.020 That goes to a lot of themes we've been talking about for many months.
00:03:52.160 But there's a, that is one of the more respected guys on Wall Street.
00:03:56.300 And of course, the guy on the desk at CNBC could not believe the answers.
00:04:00.720 I mean, he was in shock, right?
00:04:02.060 When he says, oh, give us your assessment of what you just heard there.
00:04:04.900 And I think the key thing for people, remember, we don't tell you what to do.
00:04:08.240 But when a guy like that says, it's like a papal bull.
00:04:12.120 When he says, hey, it's return of your capital.
00:04:15.160 Right.
00:04:15.580 Don't worry about your return on capital.
00:04:17.860 Steve Cortez.
00:04:18.700 No, that's the unfortunate reality right now.
00:04:20.780 You know, preservation of capital is winning at the moment.
00:04:24.600 Forget about growth on capital as far as investing.
00:04:26.720 And that's a, that's a terrible scenario, but it's just the reality.
00:04:29.160 And, you know, again, we don't come on the air, certainly not on your show,
00:04:32.120 the sugarcoat things for people or to act like Pollyanna.
00:04:34.560 We do come on to provide solutions so that we can get back to the growth of capital
00:04:38.740 and the growth of wages.
00:04:39.920 More importantly, even I care much more about wages than I do capital, but we can do both.
00:04:43.980 Donald Trump showed us that in 2019 in the pre-pandemic economy that we can do both.
00:04:48.020 But yeah, Saperstein maybe has been watching War Room.
00:04:50.660 We certainly seem to be reading from the same books and seeing the same things out there in the economy.
00:04:54.740 I think anybody who's honest, Steve, who's not dominated by narrative,
00:04:57.820 is seeing what Saperstein is seeing there.
00:05:00.200 And, you know, let's talk about performance today.
00:05:01.820 Actually, the price is true.
00:05:03.060 Okay.
00:05:03.180 Let's talk about actual performance.
00:05:04.760 We are concluding the third quarter today.
00:05:07.060 It's going to be the third quarter in a row for the S&P 500 that is down.
00:05:11.540 Steve, that has not happened since 2009.
00:05:13.620 That has not happened since the great financial crisis, since the housing and credit crisis of 08 and 09.
00:05:18.880 We have not had three straight down quarters in the S&P.
00:05:22.480 We didn't even have that in 2020 with all of the challenges of the lockdown and the CCP virus.
00:05:27.260 But this is far worse than 2009 for this reason.
00:05:29.960 At that time, we had interest rates plunging lower, bonds rallying.
00:05:34.620 Again, bonds acted as they're supposed to in calamitous times generally and volatile times.
00:05:40.060 They acted effectively as insurance.
00:05:42.040 And for many investors, for most investors, they cushioned the blow.
00:05:45.500 And in 08, 09, there was a lot of economic pain out there.
00:05:47.900 A lot of it.
00:05:48.720 You know, millions of people were losing their homes.
00:05:50.360 And I don't want to diminish that at all.
00:05:51.980 But the silver lining to that pain, Steve, was at least for people who were in a good financial position,
00:05:57.780 who kept their homes, who were responsible about leverage,
00:06:00.800 everything in their life was getting cheaper at that time.
00:06:02.820 Okay.
00:06:02.980 So that's the silver lining for the dark cloud of recession generally is things in your life get cheaper.
00:06:07.980 We have the opposite now.
00:06:09.100 Right.
00:06:09.520 Bonds are getting killed along with stocks.
00:06:12.340 While your real wages are crashing, everything in your life is getting more expensive.
00:06:16.840 This is the economic vice that we have been put into because of Joe Biden.
00:06:21.080 That's why Saperstein says right now it's just about the preservation of capital,
00:06:25.240 not the return on capital.
00:06:27.120 And when he said, I loved his answer.
00:06:28.780 He said, you know, so you like bonds?
00:06:30.540 And he said, no, I like cash right now.
00:06:32.600 And if somebody were to ask me that, I would say, look, I like farmland right now, in all honesty.
00:06:36.360 I know that's not an easily effective investment for a lot of folks out there.
00:06:41.260 But in terms of stocks and bonds, I mean, the answer is neither.
00:06:44.240 Thank you right now.
00:06:45.240 That's the reality.
00:06:46.100 Because this right now, as we speak to, as we finish this third quarter, I mentioned how bad it is for stocks.
00:06:49.940 But right now, year to date, it is the worst year for the United States Treasuries ever, ever, in data going back over a century.
00:06:57.680 We have good data going back to the teens.
00:06:59.740 This is the worst year for the 10-year Treasury in the history of the United States.
00:07:03.540 When they say the teens, they mean the 19 teens for 100 years.
00:07:07.400 Not right.
00:07:07.800 Listen, that is the smart money.
00:07:11.300 That is the world's vote on what they think of the Biden regime.
00:07:14.620 This is what they think of the Biden regime.
00:07:16.080 Don't take it from Steve Bannon and Steve Cortez in the war room.
00:07:19.020 Look at what the price is truth.
00:07:21.140 I want to make sure people understand, particularly if people say this capital market stuff is kind of confused and I get all confused.
00:07:25.480 Let me just direct you to politics.
00:07:27.000 When Lehman was put in a bankruptcy, when the 08 crisis started or it had been building but when it actually started, that day on I think on the polls, Gallup poll, I think it had McCain and Palin up one within margin of error.
00:07:43.100 The plunge in 20 in 2008 brought Barack Obama to the presidency.
00:07:48.460 His half-baked terrible solution for that, which we're still dealing with, led to the Tea Party revolution of 2010.
00:07:57.980 These are directly related.
00:07:59.420 This is my point.
00:08:00.360 You have to understand the economics and the capital markets because they're directly related to these big movements in politics.
00:08:07.180 That's why the Democrats right now, every Democrat, when we started the show and talking about these house seats, if you go look at the spots, every Democrat is running away from Joe Biden.
00:08:16.880 You can't even know they're Democrats.
00:08:18.460 Except for the abortion issue.
00:08:20.460 They're sitting there.
00:08:21.400 They're running as moderate Republicans.
00:08:22.980 They're talking about, oh, we've got to bring jobs back from China.
00:08:26.040 We've got to do this.
00:08:27.000 They're not even talking about – and they're not bragging about any of the inflationary things they caused.
00:08:32.660 Steve Cortez, this has direct – Obama and the 2010 Tea Party Patriot reaction to that was caused by this collapse.
00:08:41.040 That's what this collapse is going to cause.
00:08:43.360 Yeah.
00:08:43.800 And, Steve, to that point, let's connect the dots here between what's happening on Main Street, what's happening in capital markets, and then the election that we have in just weeks to go.
00:08:52.500 Because as terrible as the news is, and it's dire in our economy, the great news is we have human agency.
00:08:58.200 We have control.
00:08:59.020 This is still our republic.
00:09:00.200 I think in many ways it's devolving into an oligarchy, but there's still time to save it, though the hour is late, and we have enormous decision-making power in just a few weeks.
00:09:09.540 And toward that end, to encourage the deplorables out there, that we are winning and that we're going to enjoy a massive victory on November 8th.
00:09:17.700 Let's look at some of the polling.
00:09:18.900 If we can pull up chart number one, please.
00:09:21.060 I think this is important.
00:09:22.320 And this is a poll from YouGov and Yahoo.
00:09:25.860 And they asked, first of all, before I get to what I'm showing there on the screen, they asked, is inflation better or worse under Joe Biden?
00:09:32.380 Only 13% overall said that it is better.
00:09:35.660 60% said it is worse.
00:09:37.120 Among independents, only 8% said that it is better.
00:09:40.320 And then the chart that we're showing there, they just asked, and this is, I think, very important for independents.
00:09:46.240 This is the overall economy.
00:09:48.060 Overall, not just inflation.
00:09:50.000 Since Joe Biden took office, are things better or worse?
00:09:53.840 And what I highlight there in the yellow, among independents, 11% of independents say better.
00:09:59.520 51% say worse.
00:10:02.060 Almost a 5 to 1 upside-down ratio.
00:10:05.340 Are things overall, they didn't even specifically say economy, just are things better or are things worse under Joe Biden?
00:10:10.320 Almost a 5 to 1 ratio against Biden among independents.
00:10:15.320 This should, this poll, again, not one of our polls, not from a right-wing organization.
00:10:19.620 This should embolden the American people.
00:10:21.720 This should embolden the deplorables to go out there.
00:10:24.220 We are going to get a mandate.
00:10:26.240 We're going to get a mandate to fix this economic mess.
00:10:30.100 Wow.
00:10:30.640 That's the word.
00:10:31.520 We finally used it, mandate.
00:10:33.400 This also barely incorporates the other article on Central from CNBC, Steve.
00:10:38.880 60% living paycheck to paycheck, including almost 50% of people in six-figure incomes.
00:10:46.120 Correct.
00:10:46.700 This is now, and that's without, remember, your balance sheet is imploding.
00:10:51.160 $9 trillion of wealth wiped out in the stock market.
00:10:54.380 They haven't even calculated what you've been wiped out into the bond market.
00:10:57.020 And the mark-to-market on your real estate is all about to happen.
00:11:00.780 This is the created crisis of a group of radical incompetents.
00:11:06.320 You think the extraction from Afghanistan was incompetent because you could see it on TV every day? 1.00
00:11:11.520 What they're doing to your economy and what they're doing to the capital markets is really criminal.
00:11:16.640 And the American people get it.
00:11:18.500 So that's what we're talking about, a mandate.
00:11:20.640 And that mandate is going to require a Republican Party with a set of stones. 0.98
00:11:25.040 Is it not, Steve Cortez?
00:11:26.900 No, absolutely.
00:11:27.800 And again, this is why we need candidates who are willing to be bold, who are willing to say, for example,
00:11:33.120 when I'm elected to the U.S. House or I'm elected to the U.S. Senate,
00:11:36.060 I will not vote for an atrocity of a CR, of a continuing resolution like 22 Republican senators did yesterday
00:11:42.800 that prioritizes aid for Ukraine and prioritizes vaccine mandates, unscientific vaccine mandates,
00:11:49.700 over the prosperity of the American people,
00:11:52.060 particularly at a time when millions of Americans right now today are suffering in the state of Florida
00:11:56.800 because of what happened via Mother Nature.
00:11:59.360 So we need bold champions who are going to go to Washington, D.C.
00:12:04.120 to truly represent the people and not join the Uniparty, not become part of the establishment.
00:12:09.720 But here's the great news.
00:12:10.720 I firmly believe that we have those candidates all over America.
00:12:14.280 On the House side, for example, I think John Gibbs is one of those people in West Michigan.
00:12:17.700 Joe Kent on the West Coast, Catalina Lau, a dynamic young Latina in Illinois.
00:12:23.260 On the Senate side, Blake Masters, J.D. Vance, Katie Britt.
00:12:26.560 I think we have these candidates all over the United States.
00:12:29.260 And by the way, regarding this mandate, all of those people I just named, plus more, are going to win.
00:12:34.940 OK, all of them have tough races, but I think all of them are going to win.
00:12:38.900 We are going to achieve.
00:12:40.100 Nobody should get cocky.
00:12:41.240 No complacency.
00:12:42.400 But we're going to have an incredible mandate in part.
00:12:44.740 Now, I'd like it to believe that it's all about our ideas, and it is certainly in large part.
00:12:49.180 But, Steve, it's also, let's just be honest about it.
00:12:50.960 It's also because of the brutal economic predicament that Americans have been put in.
00:12:55.620 And today's action of financial markets and in terms of the economic data only back that.
00:12:59.800 You know, if we can pull up chart two, I want to show here a company, a major company, Nike, and what it's doing today.
00:13:05.040 Now, listen, I know a lot of the folks in the audience, including me, don't like Nike, right?
00:13:09.280 We don't like the toxic corporate cultural Marxism that that company spews.
00:13:13.020 But nevertheless, it's a really important read into where the consumer is in the United States and, for that matter, around the globe.
00:13:19.400 Well, Nike is down 10% today.
00:13:21.380 So this is just the latest company.
00:13:23.140 That chart goes back to the beginning of the year 2000 and kind of like the charts I showed yesterday.
00:13:26.960 What I want to show the audience there for those who are watching and not just listening is that we are back into the worst days of the spring of 2020.
00:13:34.360 We're back into the lockdown of 2020 zone for an important stock like Nike, which did relatively well, actually, on its top line earnings.
00:13:43.500 But the devil was in the details and particularly as it relates to inventory.
00:13:46.740 And they now have a bunch of inventory that they're going to try to dump into Christmas, into a very weakened consumer market.
00:13:53.140 And the stock market is really punishing this firm.
00:13:56.220 And by the way, even though I hate the management of Nike.
00:13:58.100 Well, they've got they've got an inventory backup because the stores don't want the product.
00:14:02.420 The stores don't want it on their balance sheet.
00:14:04.560 This shows the consumer.
00:14:05.980 The bottom's falling out.
00:14:06.860 This is going to be a bleak, cold, expensive Christmas.
00:14:11.440 Short break.
00:14:11.980 Steve, hang on with us.
00:14:13.320 We've got Dave Walsh and Todd Bensman.
00:14:15.100 There's some there's some the Democrats are right now working on an executive order on something absolutely, incredibly outrageous.
00:14:22.740 It's going to blow your head up.
00:14:23.320 Dave Walsh can talk to us not just about energy, but about Florida energy, what is going to happen in the in the free state of Florida with this rebuild.
00:14:31.120 Cortez thinks it's going to jack up inflation even more.
00:14:34.260 Dave Walsh got some very specific ideas about the grid down there.
00:14:38.060 Short commercial break.
00:14:39.020 We're going to get all into it on the other side in the war room.
00:14:41.620 And you are over.
00:14:45.600 Because we're taking down the CCP.
00:14:49.660 Spread the word all through Hong Kong.
00:14:51.280 We will fight till they're all gone.
00:14:54.440 We rejoice when there's no more.
00:14:56.360 Let's take down the CCP.
00:14:59.240 You know what's never good?
00:15:01.260 When your nation's supposed authority on economic policy completely misses the flashing red lights of impending inflation.
00:15:09.200 Now, Treasury Secretary Janet Yellen has finally admitted, quote, there's been an unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that affected our economy badly that I didn't at the time fully understand.
00:15:27.660 End quote.
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00:16:25.100 War Room Pandemic with Stephen K. Bannon.
00:16:29.060 The epidemic is a demon, and we cannot let this demon hide.
00:16:32.880 War Room Pandemic.
00:16:35.060 Here's your host, Stephen K. Bannon.
00:16:39.560 Okay, it's the last day of the third quarter here, 30 September, Year of Our Lord 2022.
00:16:44.660 Let's bring in Dave Walsh, our energy expert.
00:16:47.460 Dave, you're also a Floridian.
00:16:48.640 Give us an assessment.
00:16:50.360 Heroic efforts down there.
00:16:51.680 But give us an assessment of what the reality is right now on this rebuild, and particularly around electric power.
00:16:59.200 And how is this going to happen, sir?
00:17:02.320 Well, we've got, Steve, two and a half million Floridians out of service on electricity this morning.
00:17:07.320 Here in Orlando, not so bad.
00:17:10.280 A lot of tree trimming and high winds, rain, but not serious.
00:17:13.980 Fort Myers, Naples, Punta Gorda.
00:17:16.240 We're hearing reports of nearly 250,000 homeowners out of, potentially permanently out of a home.
00:17:22.880 This storm in the southwest area of Florida was devastating, completely devastating.
00:17:27.120 So, we're looking at, you know, normally you'd look at eight to ten days to have everybody back in service.
00:17:35.360 Duke Energy alone has 10,000 people mobilized, 2,000 trucks.
00:17:39.780 Other utilities like Nextera, JEA, TECO, Seminole, and other 20,000 people mobilized working on this.
00:17:48.340 There are, and they support a consortium, too.
00:17:50.740 The Entergy Southern Company, Dominion, Exelon, PSE&G all have a consortium with the Florida utilities,
00:17:57.780 where when these things happen throughout the southeast, they pitch in, help one another.
00:18:01.660 So, there's probably another 20,000 coming in of manpower from those aforementioned non-Florida utilities to support this.
00:18:08.740 While, for example, Duke is preparing for this same storm to show up in two or three days in South Carolina and North Carolina.
00:18:15.460 So, they've got a massive logistics issue, but it's an incredible service that they perform.
00:18:20.820 There's a lot of concern about the key electrical components have been in short supply during the post-pandemic shortages
00:18:27.420 of things like distribution transformers, medium power transformers, have been, in some cases,
00:18:34.060 two- to three-year lead times to get devices like these that are also, unfortunately, damaged in storms.
00:18:40.560 So, that's going to be a bit of a hiccup with getting everybody back in service quickly,
00:18:45.100 but they'll do whatever is required to jump through hoops to solve these issues.
00:18:51.580 And we have had, too, a lot of benefit from grid-hardening actions by NextEra, by Duke,
00:18:57.560 in the last five years, bolstering a lot more underground power,
00:19:02.260 a lot more resilient systems in distribution with switchgear and relays
00:19:06.180 than had been present before to make these events less severe than they are.
00:19:11.640 But this is, yeah, the impact on construction and the insurance market here is going to be huge.
00:19:17.020 This was a huge amount.
00:19:18.140 How do you, the two and a half million people, what do you think the prospects are
00:19:24.540 when that part of it actually gets, the immediate aftermath gets fixed versus the longer-term build here?
00:19:31.220 When do you think actually everybody gets some sort of constant power?
00:19:36.860 I mean, up here, we're hearing maybe three to five, six days, which isn't bad.
00:19:40.320 In the southwest, though, Punta Gorda, Naples, Fort Myers could be weeks, realistically.
00:19:46.660 And that's, and by the way, I mean, hats off to the utilities and what they do. 0.64
00:19:51.580 That's a Herculean effort to bring them back into service with a storm of this nature.
00:19:56.680 The issue is going to be the long-term lead times that have developed in some of these core components
00:20:02.100 like medium voltage and high-voltage switchgear and distribution transformers
00:20:06.540 have been year-and-a-half to three-year lead time items in the last year.
00:20:10.600 That's going to be a bit of a challenge to the extent that equipment has been damaged.
00:20:17.020 The generation equipment here is mainly gas-fired.
00:20:20.060 It's in fine shape.
00:20:22.600 Cortez, let me bring you back.
00:20:24.780 I mean, what is the impact on inflation going to be here on construction?
00:20:28.880 We talk about the backup of generators, everything.
00:20:32.920 Every piece of material you're talking about is already backed up for months and months and months,
00:20:37.060 if not, I mean, across the country, ask everybody that's trying to, you know,
00:20:40.580 you're going to give us your situation, but I can tell you, other parts of the country,
00:20:44.160 people, it's your six months to get anything going.
00:20:47.300 So what's going to happen here?
00:20:48.960 Steve, here's the problem.
00:20:50.040 And look, the storm is not Joe Biden's fault, okay?
00:20:52.800 But it is his fault that we have a hobbled U.S. economy when this storm hit us.
00:20:57.520 That's the problem with being weak when something unforeseen happens to you,
00:21:01.040 some exogenous shock.
00:21:02.300 Like, thankfully, for example, we had the opposite scenario.
00:21:04.940 When the CCP virus hit us in 2020, we had an incredibly strong, Trump-booming economy.
00:21:11.420 It made us far better able to withstand that exogenous shock,
00:21:15.400 that epidemiological dirty bomb of the CCP virus.
00:21:18.600 Now we have the opposite scenario.
00:21:20.100 We have this massive hurricane hit us, displacing so many people in Florida.
00:21:24.300 And, of course, we're most concerned about the human toll.
00:21:26.540 But the economic ramifications, Steve, I think are going to be severe and lasting,
00:21:30.480 particularly as it relates to construction and inflation.
00:21:33.700 And what I mean by that is right now we already have an incredibly difficult construction situation
00:21:38.880 all over the United States.
00:21:40.700 If you talk to anybody right now who is building or remodeling, it's an absolute slog.
00:21:46.300 Every project is way behind schedule and generally way over budget
00:21:50.520 because the supply chains, as well as the labor force, is so stressed right now and so inadequate.
00:21:55.720 And that is before the storms.
00:21:57.840 So you're now adding literally massive amounts of new demand for materials,
00:22:02.940 for expertise, for labor, for construction because of the storm,
00:22:06.260 which, again, we couldn't control that.
00:22:07.680 But we could control the condition we were in before the storm hit.
00:22:11.460 And Joe Biden made it incredibly wheezing.
00:22:13.720 So it's as if you got hit with a sickness.
00:22:15.380 But rather than taking care of your health before the sickness,
00:22:17.920 you were incredibly unhealthy, making you so much more vulnerable.
00:22:21.840 That's what's happened right now.
00:22:22.800 And I really fear, Steve, that an already terrible inflation situation in this country,
00:22:27.300 particularly for building-related materials,
00:22:29.640 it's going to go into absolute overdrive because of what just happened in Florida.
00:22:34.520 I mean, right now, as it stands before the storm,
00:22:37.140 things like electrical boxes that folks used to build, contractors used to be able to go and buy
00:22:40.860 and pick up literally day of, they take weeks and weeks, if not months, to get.
00:22:45.540 And that's before the stresses and the added demand created by this storm.
00:22:50.040 It's a terrible economic predicament.
00:22:52.780 I think it is sure to exacerbate an already awful inflation situation.
00:22:57.840 By the way, inflation today in the Eurozone was announced as 10 percent, 10 percent inflation in Europe.
00:23:04.460 Dave, where do people get to you to follow you on this?
00:23:06.760 I know you're putting up stuff all the time, particularly this tragedy down in Florida.
00:23:11.700 Yeah, I want to point out, too, Steve, the governor's done a yeoman's job.
00:23:16.100 He's got denigrators, consistent, constant denigrators in the St. Pete Times, the Orlando Sentinel,
00:23:21.480 the media center companies that own media affiliates here.
00:23:25.900 No matter what he does, they're going to hate him.
00:23:27.880 This is he's been on top of this and on state of emergency since last Friday,
00:23:31.980 before this storm actually aggregated into a hurricane.
00:23:35.020 We had a state of emergency.
00:23:36.720 The governor's been very active and involved with this.
00:23:39.420 And I can be reached and watch my postings at Dave Walsh Energy on Getter.
00:23:45.320 Thank you.
00:23:46.300 What Walsh just said, the politicization of this, is something we're going to get into a lot
00:23:50.140 starting this afternoon and tomorrow.
00:23:52.500 We're live on location tomorrow.
00:23:53.880 But this is a very big deal.
00:23:56.300 Can I have one more on that one?
00:23:57.820 I woke up yesterday.
00:23:59.100 It was still in power.
00:23:59.840 New York Times reports this event was caused by man-caused global warming.
00:24:05.020 I decreed that already.
00:24:08.000 One data point and the episodic rate of storms being greater in the last 10 years.
00:24:12.820 Statistically valid data goes over 120, 140 years.
00:24:16.160 We've seen a reduced episode of these types of events in North America in the last 120 years.
00:24:22.800 And what's changed?
00:24:24.300 Yeah, we've got 10 times more people living in the southeast on the coast than we had 30, 40 years ago.
00:24:30.020 So the monetization of these, to Steve's point, is now huge because the population growth down here has been, you know,
00:24:36.920 we had 4 million people in Florida 40 years ago.
00:24:38.900 Now we get 21 million.
00:24:40.320 And they all live on the coast.
00:24:41.900 Yeah, more prone to the monetization of these events being a big deal, a very big deal.
00:24:46.320 Now, three million, I think, have moved in since 2010.
00:24:48.920 Not because of man-caused global warming.
00:24:50.640 Nothing to do with it.
00:24:51.920 They're moving down there because it's the free state of Florida.
00:24:54.780 Dave Walsh, we'll get back to you.
00:24:55.940 Thank you very much, sir.
00:24:57.000 Let me bring in – I want to bring in Todd Benzman, where I still got Cortez.
00:25:00.000 Something else I want to make sure does not slip under the radar.
00:25:02.980 The White House knows they're going to lose in court on DACA, right, that's going to get thrown out.
00:25:07.280 And now they're already plotting, but it's got massive implications.
00:25:11.040 Todd Benzman, what is specifically going on here about DACA, about this executive order,
00:25:15.380 and what's the impact, given the invasion that's taken place, that Biden has allowed
00:25:19.840 and actually cheerleaded and exacerbated in the United States, sir?
00:25:24.560 Well, first of all, DACA amounts to about – it's a protection providing work authorization
00:25:31.380 to about 700,000 people whose parents brought them in when they were children.
00:25:38.440 And the issue here is that the courts, the Fifth Circuit here in Texas,
00:25:44.600 is about to rule against that protection, which means that they will lose their work authorization
00:25:50.720 and then be subject to deportation.
00:25:54.400 Of course, you know, deportation's not going to happen under Biden
00:25:58.420 because they've eliminated interior deportations almost entirely,
00:26:03.860 so they wouldn't really have to worry about deportation anyway.
00:26:07.940 They'll appeal to the Supremes.
00:26:10.580 The Supreme Court, the current makeup, will probably affirm the lower court ruling,
00:26:17.160 and that leaves the 700,000 DACA people sort of out there hanging
00:26:21.720 for maybe a Republican president and DHS at some point.
00:26:27.060 What they're preparing is an executive order that would affirm that former DACA people 0.59
00:26:35.920 will not be deported, but it's really just window dressing since they won't be deported anyway.
00:26:42.540 To me, the bigger issue, the broader issue here is that since DACA was put in place,
00:26:48.760 we probably have two and a half million more children whose parents victimized them
00:26:56.560 by bringing them over the border into a situation like that where they'll grow up
00:27:02.020 and eventually have to be deported too.
00:27:04.860 And the issue there is that, you know, you have these whole broad new DACA generations 0.97
00:27:09.720 that if you give DACA protection to the old one, 0.86
00:27:14.020 they're going to be like the Van Halen song,
00:27:17.160 everybody wants some, I want some too.
00:27:20.080 And we just, you know, these are going to come up,
00:27:23.080 this is going to come up before the next Congress.
00:27:26.180 And yes.
00:27:27.520 Hang on.
00:27:28.160 I just got, you just got a hit before we go to break.
00:27:31.200 With the DACA, it was 700,000, right?
00:27:34.060 Illegally brought.
00:27:34.840 Let's be specific about that.
00:27:36.140 You're saying there's 2.5 million since the 2.5 million that would be eligible to this
00:27:42.540 in addition to the DACA?
00:27:46.240 Yeah, this is my calculation that the government does not release the total number of children
00:27:51.920 that came in as part of family units.
00:27:54.580 So I'm kind of calculating one parent, one child, one parent.
00:28:00.520 Yeah.
00:28:01.040 Okay.
00:28:01.720 Okay.
00:28:02.020 Hang on.
00:28:02.620 Hang on one second.
00:28:03.880 We're going to come back.
00:28:04.680 We've got Cortez.
00:28:05.700 We have Todd Benzman from CIS.
00:28:08.620 We're going to get Karen Siegerman from the Alliance for Freedom, 0.88
00:28:13.420 American Alliance for Freedom, Freedom Alliance, all next in the war room.
00:28:17.440 We will fight till they're all gone.
00:28:20.000 We rejoice when there's no more.
00:28:21.920 Let's take down the CC.
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00:29:36.360 War Room Pandemic with Stephen K. Bannon.
00:29:40.400 The epidemic is a demon, and we cannot let this demon hide.
00:29:44.220 War Room Pandemic.
00:29:46.340 Here's your host, Stephen K. Bannon.
00:29:48.680 Look, this DACA situation is not an easy one.
00:29:53.520 The reason this is a huge problem is because of people gaming the system.
00:29:58.540 It's metastasized, become an even bigger problem.
00:30:01.880 And you're going to have Biden do this executive order.
00:30:03.740 We're going to have to go through this whole court situation again.
00:30:06.260 Steve Cortez, I know you and President Trump.
00:30:08.320 This is one President Trump, Russell Wilson, I know you have.
00:30:11.540 That's why I wanted to get Benzman in to talk about the reality of the 2.5 million.
00:30:16.300 Talk to me about your assessment of this, sir.
00:30:19.260 Yeah, Steve, no, listen, I think this is important.
00:30:21.260 And during the Trump administration, and I talked to President Trump many times about this exact issue
00:30:26.120 because he knew that as an Hispanic, I cared deeply about it.
00:30:28.660 And I was actually for some sort of status for DACA.
00:30:32.560 I believed it was a different category of illegal immigrant children who didn't choose to come to this country.
00:30:37.880 I never supported citizenship, but some sort of permanent status.
00:30:41.080 And I have to say, I no longer believe that.
00:30:43.420 I was in the same place then as Donald Trump.
00:30:45.560 I no longer believe that.
00:30:46.780 And the reason I don't is because exactly what Todd Benzman is talking about, because of what the liberals have done,
00:30:52.840 because of what Joe Biden has done and absolutely inundated this country,
00:30:56.660 turning children effectively into admission tickets into the United States,
00:31:01.320 to the point where now I think any kind of what might have been a reasonable solution before regarding DACA is absolutely impossible.
00:31:08.780 We cannot go there.
00:31:09.960 So, Steve, I'll be the first to say, you know, listen, I think when the facts change, we have to change our minds.
00:31:14.060 And given what has happened at the border, I have changed my mind.
00:31:17.380 I'm coming to your position.
00:31:18.540 I'm where you were all along.
00:31:20.220 You were right.
00:31:21.280 But a lot of us, I think, you know, did, in fact, on the right, a lot of us who are not at all soft on the border.
00:31:26.140 Look, I'm for a moratorium on even legal immigration. 1.00
00:31:29.060 OK, I want zero immigration in this country. 1.00
00:31:31.340 So I'm not soft on the border.
00:31:32.400 But I did have a heart for children who I think were victimized, you know, by even if it's by their own parents.
00:31:37.820 But the reality now is we can't do this any longer.
00:31:40.380 There can be no.
00:31:41.320 And the Hispanic community, the Hispanic community is going to be with us on this.
00:31:45.680 This is the and Biden's going to make it even tougher.
00:31:47.980 This executive order.
00:31:49.340 This is going to make it even more complicated.
00:31:51.160 This is one of the reasons that ramifications of this invasion on the southern border and breaking of the laws is going to is going to be with us for decades and decades.
00:31:59.080 But we got to sort this about the victory on November 8.
00:32:01.460 It's so important.
00:32:02.620 Todd Benzman, I don't understand why your book's not out now, right?
00:32:07.840 I don't understand why the publisher is holding it, but I want everybody to order.
00:32:10.920 How do people get to you, your writings, everything on social media and how they get to your new book?
00:32:17.680 OK, I'm at T. Benzman Getter at Getter and the book.
00:32:22.340 You can preorder it.
00:32:23.480 It's called Overrun at Todd Benzman dot com.
00:32:27.700 It's on Amazon, Barnes and Noble.
00:32:29.780 You can find it everywhere that you like and preorder it.
00:32:34.060 Just show show the publisher some support for the book that might convince him to hurry it up a little bit.
00:32:40.460 But but if you go to my website, you can read all about it.
00:32:43.980 And I've got the introduction is published now and you can get a really good sense of what I'm going to report about this migration crisis.
00:32:53.140 I was there from the beginning on the ground.
00:32:55.640 And I'm going to tell you exactly why this mass migration historic event happened, who caused it, where, why, how, everything about it and what it looks like and where we're going with.
00:33:08.420 You know, a lot of people contacted me because of this discussion about impeaching Biden.
00:33:13.200 And I keep saying that this is going to be the first article and it's going to be real, real hearings, real investigation to get to the bottom and no rush to judgment here because this invasion is so outrageous.
00:33:23.080 And it's going to have such massive implications for everybody.
00:33:26.040 Todd Yeoman's working, by the way, we'll work over the weekend and refine that number 2.5 million.
00:33:30.440 I want to be I want to have as much precision about this as possible because this is a huge issue.
00:33:34.680 And this is what Biden's over at the White House working on.
00:33:37.400 This is what they're spending their time doing.
00:33:39.720 They're not sitting there combating inflation.
00:33:41.660 They're not sitting there trying to protect our southern border.
00:33:44.940 What they're trying to do is cause more chaos and more havoc.
00:33:49.540 This is exactly what they're doing.
00:33:50.840 Todd Benzman, thank you so much.
00:33:53.940 Thank you.
00:33:54.360 Go ahead, sir.
00:33:54.700 Well, I was just going to say, it's worth remembering.
00:33:58.860 Okay, yeah.
00:34:00.100 It's just worth remembering that the 700,000 is now like quintupled with children.
00:34:08.340 These mass migrations from 2019 and now are child-centric mass migrations.
00:34:15.840 They were a ticket to get in, like Steve was saying, and the numbers are huge.
00:34:20.480 So why give it to 700,000?
00:34:22.600 Why not – when you give DACA to 700,000, you're telling the rest of the world that it's there for you too at some point.
00:34:30.180 Come on in.
00:34:30.720 It's 100 percent.
00:34:32.340 This is why I took a super hard line on this topic because I knew one day we'd be here.
00:34:37.400 And guess what?
00:34:38.100 We're here.
00:34:39.240 And they're trying to hide it.
00:34:40.400 And nobody – and Cortez, what you just said about the Senate, they passed this thing with no border security, no stopping the invasion.
00:34:47.980 You can just go through the laundry list, more money to Ukraine, right?
00:34:51.860 Just on – continue the vaccine and mass mandates.
00:34:55.160 This is the gutless Republican Senate, which we're going to have to deal with on the evening of November 8th.
00:35:00.440 I realize the world's not perfect.
00:35:02.380 Cortez, how did people get to you, your substack, all your writings?
00:35:05.160 At Steve, and I'm still on Twitter, at Cortez Steve, Cortez with an S.
00:35:13.360 Fabulous.
00:35:13.880 Great work, guys.
00:35:14.760 Really want to thank both of you guys for taking time to do this.
00:35:19.220 We've got a lot of wood to chop here and not a lot of time.
00:35:21.900 I want to go to Karen Siegman, American Freedom Alliance, a big event over the weekend.
00:35:27.800 There are some tickets left, I guess, for the – I think the dinner's sold out, but you've got the two-day conference.
00:35:33.520 And it's – many of the people have been on the show.
00:35:36.480 Tell us about it, and how do people go get tickets?
00:35:39.060 Because I think tonight you end the ticket sales at, I don't know, about 8 o'clock or something, Pacific Coast time.
00:35:44.820 Exactly right.
00:35:45.440 So how do people – tell us about the conference, and why do people want to go, particularly if it's last minute?
00:35:51.680 So everything that you talk about all the time and that you were just talking about with your guests, we're under attack on national sovereignty.
00:35:58.840 Our representative government is under attack.
00:36:01.060 The individuals are under attack.
00:36:04.880 Humanity itself is under attack.
00:36:07.520 And our two-day conference intends to address all of those things, all the ways in which we are being under attack.
00:36:13.940 Not all.
00:36:14.440 We're trying to cover as much as you can in two days.
00:36:17.380 We have the best speakers, including you.
00:36:19.400 We have Kevin Fallon – sorry, Kevin Freeman, Michael Fallon, Michael Rechtenwald, Ed Dowd, who's a frequent guest of yours.
00:36:29.000 It's going to be an absolutely astounding event.
00:36:31.960 We are cutting ticket sales off at 8 o'clock tonight, as you noted.
00:36:35.520 You can get tickets at AmericanFreedomAlliance.org.
00:36:40.120 On the website, we also have – yeah, there we go – the entire roster and the schedule of the two days.
00:36:49.300 It will be an astounding event.
00:36:51.680 You will walk away so knowledgeable, so empowered, though, and so emboldened with ideas of how to combat this.
00:36:59.820 It's going to be an incredibly engaging and empowering experience.
00:37:03.940 Again, AmericanFreedomAlliance.org.
00:37:06.260 And there's a link for tickets, and we are cutting it off at 8.
00:37:10.680 The dinner, as you said, is sold out, but there's still just a handful of tickets left for the conference itself.
00:37:17.460 And we're going to be broadcasting.
00:37:18.820 We're going to have a lot of the guests, a lot of the speakers on, et cetera.
00:37:21.620 So one thing I want to say about the title, about the Puppet Masters, you know, I'm not a believer in that.
00:37:27.060 I know some people are.
00:37:28.000 In fact, this is all about going through and having a debate and putting up information and facts.
00:37:33.720 Yes.
00:37:33.960 And I want to say – I'm definitely not because I say there's no conspiracy but no coincidence.
00:37:37.840 I do want to thank Politico because, you know, they make the case that there actually are Puppet Masters in this amazing investigative report they did that talked about Gavi, that talked about CEPI, that talked about the Gates Foundation, that talked about the World Economic Forum, that talked about how these NGOs were really much more in control of the response of national governments, individual national governments to this thing.
00:38:03.840 I mean that ain't Breitbart.
00:38:06.260 That's not, you know, Citizens Free Press.
00:38:08.840 That's not Gateway Punt.
00:38:09.840 It's not War Room.
00:38:10.960 This was a major investigative report, and I'm going to talk about that over the week, a major investigative report by Politico that showed about the power of these NGOs.
00:38:20.360 A lot of this goes back to Brother Bill Gates.
00:38:23.340 I mean it was their report that did it.
00:38:25.560 Now, they have a different take on it, that it should be more of that, and they could do more – it could be rapidly because governments are too fusty about this.
00:38:35.200 But they're the ones that make the case that there in fact are Puppet Masters, and they point right to Schwab and particularly Bill Gates and the Gates Foundation.
00:38:44.960 So this whole thing about the Puppet Masters is to be debated, and this is the key of the Freedom Alliance.
00:38:51.280 You started this years ago as a First Amendment.
00:38:54.940 We've got to be able to talk about these issues.
00:38:56.580 If we can't talk about them and debate these ideas, then you become – then the government becomes a despotism.
00:39:03.440 Is this correct?
00:39:04.260 This is how you guys started off?
00:39:06.340 Exactly.
00:39:07.100 I was not the founder.
00:39:09.020 I was – but Avi Davis was, but I am just so honored to be at the helm at this point after he died.
00:39:17.280 But yes, exactly right.
00:39:18.500 And freedom – we absolutely need to err opposite dissenting, even curious, inquisitive opinions.
00:39:28.760 We need to be able to search for the truth, and when people impede that search for truth, that's when you run into trouble and despotism and totalitarianism.
00:39:37.760 You have to be able to question.
00:39:40.360 Karen, how do they go to the site, see all the speakers, and how do they get tickets?
00:39:43.540 How do people go?
00:39:45.860 AmericanFreedomAlliance.org.
00:39:47.540 And then there's a link when you scroll down a little bit further than that, and you'll see our mission, Advancing the Values and Ideals of Western Civilization.
00:39:54.460 That's who we are.
00:39:56.000 And if you scroll down a little bit further, you'll see a link for tickets.
00:39:59.160 But get them now.
00:40:03.140 Okay, ma'am.
00:40:03.960 Thank you very much.
00:40:04.980 Did we just drop her?
00:40:05.900 Okay.
00:40:06.600 We'll make sure – let's get that up there and put it up in all the chat rooms.
00:40:09.360 I want to go to Dr. Bradley Thayer, one of our favorites.
00:40:12.140 Dr. Thayer of the Chinese Communist Party, they're coming up to make Xi the emperor for life.
00:40:18.220 You've got a new book out.
00:40:19.600 I want to talk about that, about the book.
00:40:22.140 Why should people read it?
00:40:23.000 You're one of the top analysts we have on here.
00:40:25.220 You dedicate your life to exposing the Chinese Communist Party.
00:40:29.380 Walk us through the new book.
00:40:30.480 Why should people get it?
00:40:31.780 And how dangerous is this?
00:40:33.200 Because I said earlier, the plebiscite and the annexation of these eastern provinces in Ukraine was one million percent done because Xi told Putin, I got your back on this because I'm going to do the same thing in Taiwan.
00:40:48.020 So everybody sitting there, all these people yammering over there about this problem.
00:40:51.160 Hey, this is the CCP as the head of the criminal organization, Dr. Bradley Thayer.
00:40:57.420 Yes, Steve.
00:40:58.120 Well, thanks.
00:40:58.580 Good to be with you again.
00:41:00.480 The book lays out very clearly why China is a threat to the United States and to its allies and really to the global population. 0.92
00:41:11.200 The argument is that it's the Chinese Communist Party historically, as well as today, and the leaders, Xi Jinping, of the Chinese Communist Party today are determined to confront and defeat the United States and establish their own world order.
00:41:30.480 In international politics.
00:41:33.240 We also, in the book, argue with my co-author, Lian Chauhan, we argue that the United States can defeat China.
00:41:40.620 And we point ways that the United States' recommendations that the U.S. and its allies should adopt to bring about the defeat of the Chinese Communist Party.
00:41:51.960 Many measures that we can employ, the most important of which, Steve, is our ideology.
00:41:57.660 The fact that when you compare China with the United States, when you compare Chinese totalitarianism with freedom offered by the United States, the world that the Chinese are seeking to create, totalitarian future for the 21st century, versus the world that we're trying to create to sustain, which is to have... 0.83
00:42:19.660 Hang on, hang on, hang on, hang on.
00:42:21.880 You're losing me.
00:42:23.000 I just, I got the Federal Reserve today put out an announcement that the Federal Reserve, with everything that's going on, the dumpster fire they've created, is focused on ESG scores.
00:42:32.280 I mean, they're going to a social credit score.
00:42:34.300 The totalitarian nature, our elites are copying the exact model of the Chinese Communist Party. 0.78
00:42:40.360 So how can you say our ideology, I think we can win on a lot of grounds.
00:42:44.340 I'm not so sure, how do you say our ideology is acceptable to people throughout the world, when I think people are rejecting the fact that we're a mini-me version right now, our elites, not the country and not the American people.
00:42:56.860 But our elites are a mirror image of what they are.
00:43:00.440 I tell you what, while we hold this, we're going to go to commercial break.
00:43:02.980 I have Dr. Thayer showing that Lin Chao Han, another superstar, Dr. Thayer, a brand new book out.
00:43:08.160 These guys know China better than anybody.
00:43:10.620 We'll take a short commercial break.
00:43:12.140 Remember, what is it, in two weeks, they're going to anoint Xi as emperor for life.
00:43:18.660 If you think we got it tough now, we're going to have it even tougher then, particularly now that he's got a junior partner in Moscow that's helping him control your Asian landmass. 1.00
00:43:28.660 All next in the war room.
00:43:30.940 We rejoice when there's no more.
00:43:32.900 Let's take down the CCP.
00:43:35.600 There has arrived.
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00:43:44.640 Join the marketplace of ideas.
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00:44:04.040 So, Dr. Thayer, is it realistic to think that people want our model versus – can they see past the apparatus, the administrative state, to the underlying love of freedom and independence and self-reliance of the American people, sir?
00:44:19.900 Absolutely they can.
00:44:21.780 Look at what the United States has been historically, what the United States is, what the American people support.
00:44:28.500 It's quite clear that freedom is going to encounter a renaissance.
00:44:33.540 There's going to be a rebirth of freedom in the United States as well as globally.
00:44:37.940 And when you contrast that with what the totalitarian Chinese Communist Party is offering, ideology remains one of our greatest strengths as long as this Cold War competition with China does not turn hot, of course, does not become a kinetic one. 0.72
00:44:53.500 So, there's great reason for optimism in the competition.
00:44:56.620 Do you argue – we've got to bounce, but I want everybody to get to the book and we're going to have you back on, hopefully maybe even tomorrow to go through it.
00:45:03.740 Do you argue that we can actually take this on and defeat it without having – going to a kinetic war, sir?
00:45:10.100 Indeed, Steve, we can, and that is that the Chinese Communist Party is illegitimate.
00:45:15.420 They know that they're illegitimate.
00:45:17.180 They know they have tremendous weakness, and they're fearful that we'll use ideology around the world but also with the Chinese people to undermine them and overthrow them. 0.99
00:45:28.940 So, there's much we can do short of kinetic conflict, obviously.
00:45:34.220 We do not want kinetic conflict to come.
00:45:36.460 We want this to be a Cold War that ends in our victory and their defeat. 0.82
00:45:41.980 Lao Bai Jing, how do people get the book and how do they get to all your writing, sir?
00:45:46.920 Understanding the China Threats, available at Amazon as well as in BookSource.
00:45:52.640 And my writing is on Getter, at Bradley Fair at Getter, and, of course, at Truth as well.
00:46:00.100 The timing is exquisite because you've got to understand the threat because now Xi is going to be emperor for life, and we're going to have to deal with it.
00:46:08.620 And Lao Bai Jing is going to have to deal with it.
00:46:10.500 Dr. Thayer, thank you.
00:46:12.140 We'll talk afterwards about getting you back on here ASAP.
00:46:15.040 Thank you, Steve.
00:46:15.800 Thanks very much indeed.
00:46:17.700 The existential threat that we face, the illegitimate transnational criminal organization. 1.00
00:46:23.220 But, man, are they smart and they're tough.
00:46:26.020 This is the – I've got to tell you, this is an enemy of all enemies, Libby Evans from Postmillennial, which they just do incredible work, and I'm so impressed.
00:46:34.840 I don't even have time to talk to you about your transhumanism piece you've got up.
00:46:39.160 But I got to – this piece, more than any I've seen in the last couple of days, has blown my head up.
00:46:42.720 Walk me through exactly what is happening and how the Chinese Communist Party has kind of infiltrated, I guess, police departments in Canada and the United States and throughout Europe.
00:46:51.140 What's going on?
00:46:51.700 Yeah, so they haven't exactly infiltrated police – maybe they have infiltrated police departments.
00:46:58.040 But this report out from – let me just tell you exactly who it is.
00:47:02.980 This is a report out from Safeguard Defenders called 110 Overseas about Chinese transnational policing gone wild.
00:47:10.300 And what happened is in an effort to deal with telecommunications fraud, the Chinese authorities have decided to go into other nations, basically do extrajudicial actions, police actions on Chinese nationals, encouraging them to come home – encouraging, right? 0.96
00:47:32.320 Encouraging them to come home and face charges for telecommunications fraud.
00:47:38.400 They've opened up these offices in what appear to be Chinese businesses or, in the case of Toronto, one is in a private home.
00:47:48.940 One is in a not-for-profit that is supposed to be helping Chinese nationals with services that they perhaps need.
00:47:56.180 Okay, but hang on for a second because I want to make sure people – because I jumped the gun and talked about the infiltration to police departments, which that is a story for another day.
00:48:03.840 But that has happened, and that's one of the reasons that's allowed to happen.
00:48:06.220 When you say extrajudicial, they actually have Chinese nationals over in these countries, Canada and the United States, that are essentially putting pressure on people that are in these free countries that somehow they want them to go back home and they want to extradite them or help them get extradited to enforce the CCP's global rule over them. 0.55
00:48:26.860 Is that essentially it, that they can't – even though they're in a free country like the United States or Canada or Australia or Europe, they're not free because they're hunted down by the CCP using these telecommunications laws.
00:48:40.820 Is that essentially it?
00:48:43.220 Yes, but they're not necessarily using laws.
00:48:46.140 They're not necessarily going through the legal process at all.
00:48:49.220 In fact, what they're doing is they're coming to Chinese nationals across five continents with offices in Canada and the U.S. as well as mostly in Europe, and they're saying to them, hey, we think you've done this.
00:49:03.500 We think you should probably go home.
00:49:05.600 And if you don't go home, we're going to prevent the children in your family from coming to school.
00:49:10.700 We're going to cut off the electricity for your elderly parents' homes. 1.00
00:49:15.500 And they put all of this pressure on family back home to coerce the people to go back to China.
00:49:22.860 So they don't even have to follow any laws.
00:49:25.060 They just have this sort of mafia mentality of, you know, it's a shame if something would happen to your family back home unless you do this.
00:49:32.880 And that's what they do.
00:49:34.120 So they don't go working within the law.
00:49:37.380 But certainly American authorities and Canadian authorities are allowing this to happen.
00:49:42.740 And maybe they, I don't know why they would possibly do that.
00:49:46.720 I don't know why.
00:49:47.180 That's the question.
00:49:48.080 Why are, why are authorities in Canada and the United States, you're saying there's actually activity here in the U.S. and a couple offices in Canada.
00:49:55.260 Why are, why, because this is known, why are they allowing it to happen?
00:49:59.060 I think we really need to put pressure on these governments to stop letting it happen.
00:50:05.100 I think we need to let our representatives and lawmakers know that under absolutely, under no circumstances, should Chinese police be operating on the soil of free Americans and, you know, free-ish Canadians. 0.83
00:50:19.520 This should absolutely not be happening.
00:50:21.460 And the fact that it is happening, you wonder what kind of pressure authorities are being put under by, you know, the Chinese communist regime to allow this kind of thing to go on.
00:50:31.980 If they don't know about it, right?
00:50:33.960 I mean, if the U.S. and Canada don't know about this, are they just stupid?
00:50:37.960 How could they not be aware of this kind of infiltration that's going on on our soil?
00:50:43.560 The next stage you're going to find is the infiltration.
00:50:46.300 Libby, how do people get to your post-millennial? 0.84
00:50:48.340 People ought to read this every day.
00:50:49.800 It's an amazing site.
00:50:50.640 You guys do incredible work.
00:50:52.780 We're at thepostmillennial.com, and I'm up on Twitter and Truth at Libby Emmons, and, you know, come check us out.
00:51:01.580 You've got an incredible piece on transhumanism.
00:51:04.140 We'll get to that later, but this one was so hot, and it's quite incredible.
00:51:08.880 Stunning it's going on in the country.
00:51:10.360 Libby, thank you so much.
00:51:11.840 Thank you.
00:51:12.500 Okay.
00:51:13.420 It's the last day of the third quarter.
00:51:15.460 From 5 to 7 will be the closing hours of the third quarter.
00:51:18.660 You're not going to miss it.
00:51:19.480 We will be lit wall-to-wall from 5 to 7 at night.
00:51:23.160 See you then.
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