UK Prime Minister Theresa May has been deposed and replaced by a new Prime Minister, Jeremy Hunt, and there is now a leadership contest to replace her as leader of the Conservative Party. Stephen K. Bannon and Peter McIlvane join me to discuss all the latest.
00:08:53.620What are the warnings you see as a guy that lives in the capital markets every day, warnings from the U.K., both the economy and political class to the United States?
00:09:03.040Steve, this is critical because no one here should rest easy thinking that those problems are going to stay across the pond, across the Atlantic in the U.K.
00:09:10.940because we are on the exact same trajectory.
00:09:20.280And make no mistake, we shouldn't pull any punches about this or try to coddle it in terms of the terms we use.
00:09:25.960The U.K. is having a sovereign debt crisis.
00:09:28.500I mean, literally the mothership to the United States, formerly the most powerful empire in the world, the people who created the currency, which was once the reserve currency of the world, created the metaphor sound as a pound,
00:09:39.380which mattered globally, they are having a sovereign debt crisis.
00:09:43.700That's what financial markets have thrust upon the country because of its mismanagement of its economy, with interest rates absolutely soaring and the British pound absolutely collapsing right now.
00:09:53.320But the United States is on that same trajectory.
00:09:58.760Look at what global bond markets are doing.
00:10:01.420OK, global bond markets right now are completely rejecting the Boris Johnson and the British Tory agenda.
00:10:06.320They are also completely rejecting the Joe Biden agenda, right, of a lack of growth and not just a lack of growth, but actual negative growth, stagnation combined with absolute runaway inflation.
00:10:18.900Right now, today, as we speak, Steve, 10-year Treasury yield, which is the benchmark for the entire world, all global interest rates from your car loan to British government debt,
00:10:28.000all of it is predicated upon and based upon relative value to the U.S. 10-year Treasury.
00:10:32.520The 10-year Treasury right now is well above 4%.
00:10:50.380The 10-year Treasury is the instrument out there that guides most of your life, from your credit card to your mortgage to your college loan that, you know,
00:10:58.680the MAGA people pay off, the deadbeats don't, zero under Trump on Election Day of 3 November, 0.8%.
00:15:01.420When your nation's supposed authority on economic policy completely misses the flashing red lights of impending inflation.
00:15:09.860Now, Treasury Secretary Janet Yellen has finally admitted, quote,
00:15:13.940There'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.
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00:16:54.360The great team want to thank Real America's Voice and the great team in Denver.
00:17:16.980We came and show it on the TV channels and the cable and the satellite with that unless you edit it.
00:18:09.840And I would love to hear Ken Paxton's analysis on this legally.
00:18:14.320But from my perspective, from what I'm seeing on the ground when I'm going to these events that continue to get more and more provocative and grotesque, is simply that the left has infiltrated red communities.
00:18:27.100And they know that if they can get away with this in Texas, they can get away with it anywhere because that's what everyone says.
00:18:33.320They say, Texas, how is this happening in Texas?
00:19:37.360Before I get to Paxson, Lisa, what is the community down there?
00:19:40.660Because Plano, Texas, and these towns in Texas are as patriotic, hardworking Americans that are family-oriented and everybody wants to protect their children.
00:19:49.860Yeah, I think what I see at these events are a lot of people coming in from the inner cities and traveling to the suburbs to support these particular shows.
00:20:01.980There is a website, I believe it's called bestdragshows.com, that they have all of these shows kind of all over the place.
00:20:11.160This one in particular was called Ebb and Flow over at the Shops at Legacy in Plano, Texas.
00:20:15.620And they target these particular restaurants, make deals with them, make partnerships with them, and then come to these restaurants to perform these drag brunches.
00:20:24.020Now, I will say, the left continues to gaslight me and tell me that I'm lying and that this was not an all-ages welcome drag brunch.
00:20:40.360They said viewer discretion is advised.
00:20:41.840But when you go to the Dallas Morning News for their events page over the weekend, it was listed as an all-ages event.
00:20:48.480So this is clearly, clearly allowing all ages to come in here to get sexualized because somehow the left has this sick fascination with sexualizing children.
00:20:59.540This is why we recently launched this organization, Defend Our Kids Texas, because we need to start holding lawmakers accountable.
00:21:07.040I know Attorney General Ken Paxton, you're going to bring in in a second, he has been just a force to be reckoned with protecting our children.
00:21:13.080But he can't do it alone, and there are certain things that he cannot do.
00:21:16.180We need to start holding our legislators accountable.
00:21:18.020We need to start holding our local officials accountable because the LGBT community cannot be exempt from consequences of sexualizing and sexual abuse of children.
00:23:10.660I mean, I think the legislature needs to further clarify this because this isn't, I think, anything that was ever contemplated by our legislators.
00:23:17.960I don't think they ever anticipated this.
00:23:20.340And so they probably need to come back to this session, which starts in January, and make that part of the law much more clear for both parents and for local district attorneys,
00:23:30.680and hopefully potentially for me, so that if local district attorneys don't prosecute, which many of them won't, we can do something at the state level.
00:23:41.520You're telling me the local prosecutors are not prosecuting these cases of the thing is so depraved and so evil that Real America's Voice, we can't even show it.
00:23:54.000We've got to cut out half, we've got to cut out two-thirds of the language.
00:23:56.380And if you look at the video, and everybody in the podcast and radio audience has got to go see Sarah Gonzalez's video of this, you're saying local prosecutors are not going to prosecute this?
00:24:09.380And look, some of these local prosecutors are in very liberal counties that, you know, George Soros, but then they're not prosecuting a lot of crime.
00:24:16.380But, you know, this is also happening in counties where I'm at, which is where this happened, and we have Republican prosecutors who aren't doing it.
00:24:23.180That's why in most states there's a backup to local DAs, because if the local DA decides not to prosecute, he's basically nullifying, he or she, they're nullifying state law.
00:24:33.600And so we have lots of crimes that are not being prosecuted in Texas, because the legislature is never giving any kind of backup to what the district attorneys are doing.
00:24:44.200They're Republican district attorneys, Republican voted by people that call themselves Republicans and give money that people called Republicans.
00:24:51.540And they're Republicans, the DAs, that are not prosecuting these cases.
00:26:09.080And they have fought any attempt by my office or any other office to have the ability to have a backup.
00:26:15.460If we have a DA who is allowing crime, they can do that in our state.
00:26:19.180They can allow as much crime as they want from their friends or anybody else, including themselves.
00:26:24.680And in our state, the legislature has never provided a backup.
00:26:27.860And this is a long-term problem that I think the left has figured out.
00:26:31.540And that's where you're going to see more and more of this until the legislature addresses this or until it's too late and we lose and we can't fix it.
00:28:47.300After I've stolen the title, borrowed against it, or sold the property, it's 60 to 90 days for that person to even figure out that they're the victim of this crime.