Bannon's War Room - Episode 2341： The Congressional Cartel During The Lame Duck

00:00:00.000 this is the final stream of a dying regime pray for our enemies because we're going

00:00:09.820 medieval on these people here's not got a free shot all these networks lying about the people

00:00:16.480 the people have had a belly full of it i know you don't like hearing that i know you try to do

00:00:20.660 everything in the world to stop that but you're not going to stop it it's going to happen and

00:00:24.000 where do people like that go to share the big line mega media i wish in my soul i wish that any of

00:00:31.820 these people had a conscience ask yourself what is my task and what is my purpose if that answer

00:00:38.940 is to save my country this country will be saved war here's your host stephen k bannett

00:00:47.540 the overall the overarching goal of neural link is to create a uh ultimately a whole brain interface

00:00:59.940 so uh a generalized input output device that in you know in the long term literally could interface

00:01:09.380 with uh every aspect of your brain i mean i'll talk a little bit about a long-term goal uh it's

00:01:15.080 going to sound a little esoteric but it was actually the so my my prime motivation kind of

00:01:21.340 what what do we do about ai like what do we do about artificial general intelligence uh if if we have

00:01:29.200 digital super intelligence that's you know just much smarter than any human how do we mitigate that

00:01:37.120 risk um at at a species level how do we mitigate that risk um and then even in a benign scenario

00:01:44.240 where the ai is uh very very benevolent then how do we even go along for the go along for the ride

00:01:53.440 how do we participate right the the thing that the biggest limitation in going along for the ride

00:01:59.260 and in aligning uh ai i think is the is the the bandwidth the the how quickly you can interact

00:02:06.560 with the computer so we are we are all already cyborgs in a way in that your your phone and your

00:02:15.220 computer are extensions of yourself leaving your phone behind is kind of like a missing limit at

00:02:20.160 this point you're so used to interfacing with it you're so used to being a de facto cyborg so if you're

00:02:26.600 interacting with a phone it's limited by the speed at which you can move your thumbs

00:02:30.400 uh or the speed at which you can talk into your phone this is an extremely low data rate

00:02:35.400 this is the fundamental limitation that i think we need to address to mitigate the long-term

00:02:42.060 risk of artificial intelligence um and also just go along for the ride so you want to be able to read

00:02:48.820 the signals from the brain you want to be able to to write the signals uh that you want to be able to

00:02:55.860 ultimately do that for the entire brain um and then also extend that to uh communicating to the rest

00:03:04.960 of your nervous system so this is um pager who is playing a monkey mind pong pager has a neural link

00:03:14.880 implant in this video it's sort of like having an apple watch or a fitbit uh replacing a piece of skull

00:03:22.660 with like a you know a smart watch i think it's also important to show that um sake actually likes

00:03:30.640 doing the demo um and it's not like strapped to the chair or anything the monkeys actually enjoy doing

00:03:38.660 the demos because they and they get the banana smoothie and it's kind of a fun game so um i guess

00:03:45.960 like we care a great deal about animal welfare and um and uh i'm pretty sure like our monkeys are

00:03:55.520 pretty happy you know so so similarly for implanting our device safely into the brain we built a surgical 0.97

00:04:03.280 robot that we call the r1 robot it's capable of maneuvering these tiny threads they're only on the

00:04:09.920 order of a few red blood cells wide and inserting them reliably into a moving brain while avoiding

00:04:16.460 vasculature so who wants to see some insertions

00:04:19.040 yeah there's a second one that went in and we're going to do a third one

00:04:29.160 there you go and then that's going to go in the background and we'll come back to it

00:04:35.920 and as elon mentioned over the last year this has been the central focus of the company and we've

00:04:42.500 been working very closely with the fda to get approval and to launch our first in human clinical

00:04:47.440 trial in the u.s hopefully in the six in next six months

00:04:50.880 and i saw when the lamb opened one of the seals and i heard as it were the noise of thunder

00:05:03.040 one of the four beasts saying come and see that is from uh saint john's uh book of revelations the

00:05:11.040 apocalypse and uh not too overstated last night the 30th of november in the year of our lord 2022

00:05:19.120 uh will be a day that's being marked down the uh merger of man and machine man and computer

00:05:26.820 in a very disturbing four hours that we covered live on getter uh with joe allen and the team i was

00:05:33.860 in for the vast part of it i cannot tell you how disturbing this is uh and how it's just now a thing

00:05:43.080 with no debate no discussion uh nothing except your tax dollars and underwriting and research and all of

00:05:52.020 going into it plus your pension funds uh so you're um you're culpable here all of us are

00:05:58.980 uh we're going to get to later in the show we're going to do a complete drill down on what happened

00:06:03.760 last night with elon musk and his team over neural link and what was shown and what they have developed

00:06:08.580 and i think quite frankly shock the scientific community about how advanced they are uh i just hope

00:06:14.660 that they treat us with the banana smoothies that they give the uh that they gave the uh the apes and 0.92

00:06:21.700 the monkeys that they're working on i'm bringing joe allen we're going to get to the more mundane

00:06:26.640 um things that we have to worry about like uh crushing financial capital markets um this um

00:06:34.040 lame duck session and all that i got rust vote and i've got the great steve cortez going to join us

00:06:38.840 momentarily i want to start with joe allen joe you're going to come back in the second hour

00:06:41.700 this was uh so disturbing and it's not being covered the right way it's pure fanboyism and i

00:06:48.320 hope conservative inc the fanboys understand with elon musk uh axios has this huge story about the

00:06:54.920 republican vacation of elon musk um i i call him a republic arc right an oligarch emerged with the uh

00:07:04.600 the elites of the republican party incredibly disturbing joe allen uh what did we see last night sir

00:07:09.960 well steve that was the neural link show and tell and people have been waiting to see how far along

00:07:16.680 they are they appear to be very very far along i've followed neural link uh for two years and i think

00:07:25.300 that this really does show that it's realistic that they will have a device like this in a human brain

00:07:32.220 and much like the previous uh brain computer interfaces that have been shown to work i anticipate that

00:07:38.480 neural link will work quite a bit better it's much more sophisticated than what synchron has much more

00:07:43.960 sophisticated than what blackrock neurotech has you know a lot of people who want to defend elon musk

00:07:50.800 point out rightly that this device will allow people who are suffering stroke or lou gehrig's disease

00:07:58.920 uh various other ailments hold on hold on stop that's all the stop hang on hang on i can't that's all

00:08:04.580 they pitched last night the paraplegics the lou gehrig's disease that's all a front that has

00:08:08.500 nothing to do with what's going on and you it i'm one i'm glad you brought that up the paraplegics that

00:08:14.140 can walk the blind that could see the the um the uh the lou gehrig's disease that's all just a that's

00:08:20.880 a sideshow carny act carnival act okay this is man and machine merger this is what we told you about

00:08:27.380 the convergence of artificial intel artificial general intelligence regenerative robotics quantum

00:08:32.640 computing advanced chip design crisper that convergence on this side of the football is

00:08:39.000 homo sapien on the other side of the football is homo sapien plus or something else and that's why

00:08:45.980 this is so massively important and the reason it's important is no one is talking about this no one is

00:08:52.380 talking about how this actually got to be last night correct me if i'm wrong he was much farther

00:08:58.040 advanced they're talking about after he's much farther advanced than what people thought and this

00:09:02.500 ties back exactly to the executive order uh that biden signed uh about uh about that really is about

00:09:10.400 transhumanism they try to say we're curing cancer it's a moonshot we're gonna that's all nonsense 0.94

00:09:15.400 it's all crap that's what they're using as air cover for what they're doing this is a man machine merger 0.96

00:09:22.300 this is the most significant thing forget climate change that's all some bizarre bizarro medieval 0.99

00:09:29.520 religion pagan religion this is the thing itself this is the fundament last night and it went on for

00:09:36.400 four and a half hours right anyway joe give me a summary i don't want to steal your thunder i want you

00:09:41.780 to come in yeah i want to really drill down on this you could say that you've finished my thought um

00:09:47.380 so the right now they're talking about killing people and as i've pointed out many many times

00:09:53.920 the underlying principle for how transhumanism will develop is a progression from healing to

00:10:00.260 enhancement and what we heard last night is musk openly stating that the underlying philosophy behind

00:10:07.620 neural link is the idea that the brain computer interface will be necessary in order to keep up with

00:10:14.380 artificial intelligence in particular artificial general or artificial super intelligence and that

00:10:21.460 he is actually working on tesla is working on artificial general intelligence so i think that to really

00:10:28.820 put a bow on this what we're seeing is a technocrat offering a technical solution to the sort of technology

00:10:35.700 that he's producing okay joe uh joe's going to join us in the second hour we're going to get to a drill down

00:10:42.720 and this is the whole reason we had the train our editor joe join us a couple of years ago uh these

00:10:48.140 are fundamentally i mean it's quite frankly it's shocking and there's no discussion no debate uh and

00:10:54.640 then now they're going to go to the fda what what you got standing between you and homo sapien plus

00:10:59.540 is the fda you feel good you figure maybe throw the cdc in there too just so you feel better joe allen

00:11:04.960 thank you very much magnificent job the whole team who had 27 000 we had 27 000 people on getter last

00:11:12.400 night live during this that was the level of interest and i want to thank everybody in the

00:11:16.520 posse the engagement was incredible uh let me go as i got russ vote i got russ and cortez uh russ

00:11:22.500 from the sublime to the less sublime the um but hey this is what uh you know biden signed this

00:11:31.920 executive order this is the power of these executive orders to do a whole of government

00:11:36.120 approach on transhumanism you see it there because the money is in all these research labs and weapons

00:11:41.880 labs russ before i get into the lame duck this is why people in this show we've got to make sure

00:11:47.960 people understand this federal budget it's so massive when you're at five and a half and six

00:11:52.040 trillion dollars every year think if you have a private equity fund you're funding taxpayers are

00:11:57.140 funding so many things buried in these appropriations bills that it would shock the american

00:12:01.840 people of what they're paying for am i incorrect on that russ vote not at all and that in all of

00:12:08.840 the things that they are spending money on escape the awareness of the political leaders that are

00:12:14.680 charged with leading those agencies and so you know how did wuhan institute get funded until we found

00:12:20.860 out about it because no one told us fausty didn't tell his own people and they changed even an obama policy

00:12:26.880 to be able to do that and that's the kind of thing that you've got to have uh executive orders

00:12:33.600 rules of engagement paradigms that you go into these offices with that says i'm going to get the answers

00:12:39.580 immediately and know how to do that the m in omb is management and they have a lot to do with how

00:12:47.680 they direct the research uh allocations and priorities of artificial intelligence uh a lot of

00:12:56.960 the things in that in that area and and and we need a lot of great thinking and and work being done

00:13:03.480 i think i learned something just from hearing joe talk about it no it's it's shocking i want to we

00:13:09.400 only got a minute i'm gonna bring you back to the break i want to set the table there are things going

00:13:14.240 on reasons we're so maniacally focused on the lame duck there are things they're trying to do in this

00:13:18.900 lame duck that are forget who wins in 2024 they're going to set the structure and path of the american

00:13:23.940 government that's going to be very tough to unwind or am i wrong in that russ vote what's happening in

00:13:28.720 the next three four weeks no the most critical leverage point they're trying to move a full year

00:13:34.360 appropriations bill the reason why that is so dangerous is it takes away all of your leverage points

00:13:40.600 to do appropriate to do anything between now and next fiscal year and so it is a very very critical

00:13:47.340 fight and you all this is all about leverage points and leverage points are the biggest priority and

00:13:53.760 they're wanting to seed it away in the lame duck before the cavalry arrives in january well the lack

00:13:58.500 of a red wave during the midterms lead to a more emboldened biden more wasteful government spending

00:14:04.140 higher taxes the deepening of inflation and how do you protect your hard-earned savings

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00:14:58.340 future with gold do it today take action use your agency okay here's your host steven k van

00:15:07.000 okay welcome back um from the sublime to maybe a slightly less sublime uh russ vote joins us russ you

00:15:16.140 have a firefight up there on capitol hill right now about who's going to be speaker who's going to lead

00:15:21.600 this and uh and congressman norman came on the other day ralph norman of south carolina who's kind

00:15:26.600 of you know mark lovinda dismissing some backbencher nobody's heard of but he said hey look i asked

00:15:30.880 mccarthy in that closed meeting if he could use the republican study committee and even your russ vote

00:15:37.260 the one you're working on it shows you get to a balanced budget in seven years and i understand he's

00:15:40.660 got some big cuts in there would you support that and he said out of hand no i'm not going to do it

00:15:44.500 norman says then he's not the right guy for these uh for what's going to happen because this is going

00:15:50.000 to be so so so tough to get done right now you have this omnibus up there debating a train and a

00:15:56.500 half dollars could be two trillion without the financing costs you've got the specter of this

00:16:00.440 fight right now on speaker it's all intertwined so explain to our audience what the fight is

00:16:06.660 and and and what the uh what the key elements are and then we'll talk about how this audience can

00:16:11.880 participate sir sure we have major problems in this country that require seizing leverage points

00:16:18.300 where they are available when you have a end of an appropriations moment that is an opportunity to

00:16:24.660 seize you need to use the house majority for that when you have a debt limit expire you have to use

00:16:29.280 that uh kevin mccarthy has said he won't put forward a church committee that's another thing that would

00:16:34.460 have been an easy commitment if he was willing to deal with the national security apparatus that's

00:16:38.700 oppressing the american people so on an on an ongoing paradigm shifting basis he has been unwilling

00:16:45.600 in past present and apparently in the future to go down these roads and use the house majority where

00:16:52.940 risk is required yes risk will be required but it can be managed risk strategic risk to be able to

00:16:59.360 accomplish our objectives so they are in the situation right now where they are considering a lame duck

00:17:05.740 appropriations bill that needs to be carried over into the new year where the new congress for the

00:17:11.800 cavalry can come with the house majority to rewrite these bills and to do it on the basis of a

00:17:17.120 republican imprint that needs to happen in january 3rd there's a speaker vote on the floor kevin mccarthy

00:17:24.520 has not won yet he does not have 218 votes and republicans are in full driver's seat to ensure

00:17:30.520 conservatives are in the driver's seat to make sure they have a paradigm shifting person to become speaker

00:17:37.140 all hell will not break loose this has been done before this is how mark meadows got rid of john bainer

00:17:43.400 john bainer didn't have to rely on votes from democrats democrats didn't collude to with republican

00:17:49.460 moderates because the political fundamentals don't work so right now the washington establishment

00:17:54.820 is losing their mind that house conservatives have seized the moment and are actually using this to

00:18:01.360 be able to get a house majority that works on behalf of the american people that put them in office

00:18:06.500 they're using the majority and you have people losing their minds and and providing air cover to the

00:18:13.220 the adversaries that's rule number one of political strategy don't give air cover to your adversaries

00:18:18.920 don't bomb your own political allies who are on the battlefield the other thing you need to learn

00:18:24.160 is not to take the actual uh words that your enemies say as if it's the inerrant word of god

00:18:31.180 and that it hasn't been manipulated so for a particular effect and right now we are seeing itching ears

00:18:38.440 throughout the conservative movement aid kevin mccarthy a month before january 3rd when house

00:18:44.860 conservatives have all the power and they're reporting back steve by the way their offices are saying this

00:18:50.340 is one of the highest engagement that they've ever seen because the war room posse and the roots are

00:18:55.320 out there building this fight like we all said was buildable and was going to happen so we're in a good

00:19:00.360 place we got to hold steady take a deep breath and let the guys on the battlefield get the best

00:19:07.520 opportunity best strategic result that they possibly can you you brought up and cart and cortez talked

00:19:13.840 about this about the cartel the really when people say the swamp that's a cutesy phrase but there's a

00:19:18.380 cartel that runs capitol hill this uniparty cartel correct me if i'm wrong and i want to make sure i'm

00:19:24.100 fair to kevin mccarthy's guys but this omnibus bill is everything because this omnibus bill is a

00:19:28.820 trillion and a half dollars on top of the three and a half trillion of social security medicaid americare

00:19:32.920 so it'll be over a five five and a half trillion dollar appropriations packets we're going to have to figure

00:19:38.800 out how to finance that omnibus is what they're trying to jam through now while nancy pelosi's still 0.91

00:19:44.280 in charge everybody that's smart wants to push it into next year understanding there'll be tons of

00:19:49.720 tough votes you're gonna have to take some tough votes you have to stare down biden but did mccarthy

00:19:54.620 mcconnell's already said it's a priority for him to get it done now because they want all those deals

00:19:59.480 cut as they do did kevin mccarthy also come out and say i think we gotta get the omnibus done now i read

00:20:05.140 that the other day i just want to confirm from your what you're hearing up on capitol hill that

00:20:09.820 he supports getting this done now and giving away all the leverage of the speaker and and and this

00:20:15.380 majority that we control starting on 3 january sir kevin mccarthy's public positioning has gotten

00:20:22.440 better as he has lacked the votes to get speaker so he has said things publicly to say we can't cut a bad

00:20:29.080 deal but i don't think he has gone to the place that we need to be which is don't pass the bill in the

00:20:35.040 lame duck and it allowed them when they came out of that group of four with the president to say 0.86

00:20:40.760 everyone agrees the best possible result would be to do the omnibus bill so something was communicated

00:20:45.840 in that meeting to suggest everyone was on board with doing an omnibus bill and that's the kind of

00:20:51.520 thing that's cartel speak when you hear that that's cartel speak okay for this audience i want to make

00:20:57.560 sure we got some fundamentals you basically have between social security medicaid and medicare it's

00:21:02.540 essentially three and a half trillion dollars of transfer payments right total tax revenues fees

00:21:07.280 is roughly three and a half our discretionary spending when i say discretionary it's defense

00:21:11.720 budget everything else is another because the defense budget is almost a trillion it comes to

00:21:17.680 1.5 trillion dollars and maybe more but at least a train and a half over top of that that's

00:21:23.360 discretionary spending but has to be financed right over and above our taxes because not going to increase

00:21:28.640 taxes i just want to make sure that people understand this because nobody talks about it

00:21:32.500 in the since 2008 the interest payments on the federal debt have been essentially zero right

00:21:37.780 100 billion dollars because interest rates were so history we kept interest rates low in this new

00:21:43.300 interest rate environment the financing cost of that is eight i think 800 billion dollars going to a

00:21:48.740 trillion going to be bigger than the defense budget and get to the size of social security medicaid

00:21:53.740 medicare individually russ vote that is not included in the 1.5 trillion this this smoke and mirrors they

00:22:01.060 don't actually put the financing charges in there so essentially it's two and a half trillion to three

00:22:07.700 trillion dollars sir discretionary because you got to finance how you're paying for how you're going

00:22:12.820 to then pay for the for the payment himself it you're looking at when you include mandatories and

00:22:19.980 entitlements right you have a much bigger package and they do not include the interest on the debt

00:22:24.920 with when these de-appropriation that's something that uh you know they float bonds to be able to do

00:22:30.240 and that's the racket is that everything that they don't want to touch entitlement is they blame the

00:22:35.720 problems but they never want to actually go after the cartel spending which is the bureaucracy spending

00:22:41.000 which they have a vote on every single year and this is another opportunity with this omnibus bill and so

00:22:46.420 that's where the real fight is the real fight is not entitlements you got to make some reforms there

00:22:51.320 not to the to the degree that people feel like you need to but that fight is on appropriations and you

00:22:58.420 can't see that and you can't let the cartel play a shell game of distracting you away from where the real

00:23:04.260 fight is amnesty for 11 million plus the debt ceiling to remove that the the defense authorization act

00:23:12.040 has all this woke stuff that you can't recruit a kid in the south anymore because of all the wokeness

00:23:16.760 in the military and our personnel costs go up these are massive i keep telling people and this is why

00:23:22.220 quite frankly we need president trump to jump in here people gotta start you know maybe playing less

00:23:27.320 golf and focus on this because correct me if i'm wrong vote we're setting structural things in place

00:23:34.640 that are going to handcuff a republican president and a mega president in 2024 of what's being done in 1.00

00:23:42.240 the next four or five weeks am i correct in that yes if we could keep spending with trillion dollar

00:23:48.560 deficits as far as the eye can see and do nothing to put a hurt on the spending that you can't control

00:23:54.460 then you're going to have years of inflation that require an economy that's killed you'll have less

00:24:01.120 trade space to do tax cuts you'll have less ability you'll have to get the economy growing and that'll

00:24:07.580 make your fiscal situation more complex and so you've got to use these these years even in minority to be

00:24:15.240 able to get stuff done and that's why the house majority is so critical right now ross how do people

00:24:22.920 how does this audience participate i want to know first off i wanted to go to your site because you guys

00:24:27.240 have tremendous information you have to be armed with information right then you've got to go and

00:24:33.260 weaponize yourself to get involved in in talking to people but where do they go to your site and where

00:24:38.620 do they go on the site because i need everybody in this audience engaged in this and understanding

00:24:42.880 what's exactly going on americarenewing.com is the site and we are you get me best at at russ vote on

00:24:50.820 all the social channels we're putting out real-time information doing battle to be able to put to

00:24:57.680 rest all of the misinformation that's coming from unfortunately some good allies in the conservative

00:25:03.320 movement who are freaking out for the wrong reasons if uh i just want to this whole thing about

00:25:09.440 you're playing with fire if you get down to the january 3rd and you start doing a roll call vote

00:25:14.820 that the democrats have an opportunity to have uh you know liz cheney working with a handful of

00:25:21.260 moderates uh republicans is that uh is that a possibility to tell our audience in in the scale

00:25:28.860 from one to ten one being no chance ten being it could happen where does russ vote think that stands

00:25:34.900 number one it is no chance whatsoever the political fundamentals do not allow it it is a party switch

00:25:41.800 vote for a republican to rely on democrat votes for a democrat to participate in republican speakership

00:25:49.880 they have their own primaries outside of the strict control of their leadership it is not a thing it's

00:25:56.360 one of the reasons why john boehner is not speaker today is because he did not have the political

00:26:02.460 fundamentals to rely on democrats and vice versa big time and i was there for that fight with uh the mark

00:26:09.100 meadows which is absolutely brilliant uh i think it was in 14 um russ social media you come in a little

00:26:15.960 hot uh on uh on uh on um twitter i see i want people to follow you where they go at russ vote uh

00:26:23.840 rubbing is racing we got to be able to use this opportunity and um we'll keep making progress

00:26:30.320 folks you wanted uh to be the head of the creditors committee you're there right now

00:26:35.200 i don't care if we didn't win 30 or 40 seats we won what 10 or 11 and that gave you the power

00:26:40.620 now it's time to use it we're gonna get the number up on where you call how do you have your voice

00:26:45.440 heard your emails your calls you're talking to people at these town halls and they come back in

00:26:50.440 the district this is the time okay the killing fields of capitol hill short break steve cortez is

00:26:58.280 going to walk through contextualize all for us in the world economy next a lot of people complain

00:27:05.700 about the state of our country or the way woke corporations treat us and their employees but

00:27:11.160 it's not enough to complain we need to change the way the marketplace works and that starts with you

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00:27:22.800 of patriotic freedom loving businesses the world has ever seen whether you want to support a

00:27:28.640 restaurant that only buys from local farms a coffee shop that took a stand against covid mandates or a

00:27:34.420 bank that would never counsel you counsel you for your political views public sq is your guide

00:27:40.060 there's also interactive sensor-free community groups where you can connect with other local members

00:27:46.980 here's here's the best part it's absolutely totally free to join just go to public sq.com that's

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00:28:13.840 to support you we can't always change the world but we can change how and where we spend our hard-earned

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00:28:33.020 we had a rapid recovery from the pandemic when president biden was elected unemployment was quite

00:28:48.340 high it was close to seven percent and we put policies in place that generated a very rapid recovery

00:28:56.660 unemployment quickly fell back into the threes where is it now where is it now three seven okay so

00:29:04.780 normally you wouldn't expect um just because you had a rapid recovery uh for inflation to rise very much

00:29:12.720 if at all but it turned out the pandemic had very special impacts on the economy remember everybody

00:29:21.460 stopped spending on services they were in their homes for a year or more um they wanted to buy grills and

00:29:30.380 for office furniture they were working from home they suddenly started splurging on goods buying

00:29:37.600 technology um you know we were suddenly working through technology and bottlenecks started developing

00:29:46.580 where supply in particular important sectors of the economy just couldn't keep up with demand amazon uh

00:29:55.500 jp morgan meta disney paramount they've all done big cuts in anticipation of a recession one doesn't seem

00:30:02.100 to have shown up yet who's right are we headed for a recession because your counterpart in england

00:30:07.480 says that they're already in recession it's going to be the longest one since the great war so i believe

00:30:13.240 there is a path to bringing inflation down while maintaining a strong healthy labor market do you

00:30:19.460 think it's possible we're not heading into a recession yes we had a rapid recovery growth has slowed down

00:30:25.240 i expect the pace of job creation to slow down that's natural and expected when the unemployment rate is

00:30:33.040 close to the lowest in 50 years so i think we can take the heat out of the economy and remember russia 0.76

00:30:41.520 has conducted a brutal war against ukraine and that caused um gas prices to spike so when i say i can't

00:30:51.480 take any more normally we stop good there we go okay the key is when i say i can't take any more

00:30:57.220 you start to pull the you start to pull it down um colbert actually was i thought pretty even-handed

00:31:05.180 in asking the questions there uh steve cortez by the way i don't think yelling was a bad

00:31:11.100 um federal reserve chair remember she did actually quantitative tidying under the trump administration

00:31:18.760 took a trillion dollars of liquidity off the balance sheet of the fed uh it shows you the power

00:31:23.460 of president trump's economic agenda because we had the golden year of 2019 sir as you remember

00:31:29.060 but janet yellen is as uh and this is her kind of farewell interview because she's out

00:31:34.380 right right the happy talk the misdirection plays uh sir uh give me your comments before i want to

00:31:41.340 bring in pal too and have you comment on that well first steve please don't go soft on me on janet

00:31:46.940 yellen okay she's the worst treasury secretary in the history of that very august office right i mean 1.00

00:31:53.880 the idea that she is the successor to alexander hamilton is an absolute tragedy and there's not much

00:31:59.840 actual comedy on stephen colbert show but some of her answers were almost comical because they're so

00:32:05.040 insanely wrong particularly the part about her trying to once again it's sort of the dog ate my

00:32:11.020 homework excuse for this inflation explosion it's putin's fault okay let's look at actual numbers 0.84

00:32:17.080 and data to once again prove that that is a ridiculous canard of an excuse so if we can please

00:32:23.400 pull up chart number two this is gasoline futures from the year 2021 so that is from the day

00:32:30.580 biden took office at the lower left of that chart through october of 2021 that is not through the

00:32:37.500 present day okay this is a snapshot of that year the reason i chose that year is it's from biden taking

00:32:42.600 office into roughly halloween nothing was hot yet in the black sea okay nothing was building uh it had

00:32:49.640 0.0 to do with putin or zelensky or anything going on overseas look at what gasoline futures were doing

00:32:57.960 they went from a dollar 39 a gallon you might be saying wait a second cortez gas was never a dollar

00:33:02.200 39 where i live this is at the wholesale level okay so it was 239 it was almost exactly a dollar higher

00:33:07.840 than that at the pump on a national average but the wholesale futures contract was a dollar 39 a gallon

00:33:13.520 when biden took office by that halloween again nothing happening to the black sea region it had

00:33:20.260 gone up almost 50 percent to over two dollars a gallon so no janet yellen you're completely wrong

00:33:27.180 it's not putin's fault it's you it's the fault of you and your boss because a you declared war on

00:33:32.680 domestic american energy you killed the golden goose of american dominance full spectrum energy dominance

00:33:38.840 and b even more importantly perhaps or as importantly you engaged in an exorbitant orgy of borrowing and

00:33:45.720 spending pouring trillions of dollars of new money borrowed money upon an economy which you were handed

00:33:52.500 by donald trump which was recovering very nicely with very very contained inflation so it's not putin's

00:33:59.060 fault uh yellen you own this 100 you lied repeatedly to the american people for months and months and you

00:34:07.220 called it transitory and for that uh you should as your valedictory exit interview uh you should retire

00:34:14.020 in shame because you will forever be marred as being the worst treasury secretary in the history

00:34:20.120 of that incredibly important and august office talk to me about they're still up there this gets back to

00:34:26.740 rust vote and what's happening right now and where this audience can participate there's another two

00:34:31.160 trade that we haven't learned listen it's a train and a half to two train without the financing

00:34:35.900 charges in there that we're just going to cost us 800 billion to a trillion to finance the entire

00:34:40.840 five and a half now because of the 30 trillion of debt in the debt that's on the social security and

00:34:44.720 all that and remember folks in 12 months it happens again in 12 months after that it happens again in

00:34:51.680 12 months again it happens after that there's there's the yelling biden regime program is pure

00:34:58.700 fiscal and monetary insanity uh steve cortez there any other way to say it no of course it is and by

00:35:06.440 the way you don't have to take my word for it look at the plunge in the savings rate in the united states

00:35:10.980 americans have literally no cushion left particularly middle and lower income folks who don't have

00:35:16.540 savings at all as a matter of fact they have high interest credit card debt uh thanks to biden and

00:35:21.080 yellen's inflation and to your point about this lame duck session you know i want to say a couple

00:35:25.040 points that i think are critical first of all we earned that speaker's gavel and it's a glorious

00:35:29.400 thing that we're going to take it away from nancy pelosi over 50 million americans out there voted for 1.00

00:35:35.000 republican candidates for house and senate uh hundreds of thousands perhaps millions of americans worked

00:35:40.740 tirelessly campaigning to make that happen it's not quite the scale of victory that we wanted but it is

00:35:46.440 a huge victory nonetheless now nancy pelosi as she surrenders that gavel on the way out the door 1.00

00:35:52.460 what should be happening okay given our victory what should be happening is the political version

00:35:57.580 of a ccp struggle session okay that should be her exit interview instead a lot of republicans

00:36:03.900 especially on the senate side but some on the house side they want to throw an exit ticker tape parade

00:36:09.480 for nancy pelosi and allow her to absolutely set the table such that the republicans have no leverage 0.82

00:36:16.200 when they do take over in january and as proof of that steve i would offer to the audience look what

00:36:21.600 just happened on the attack on religious liberty it's coaxed as the so-called respect for marriage

00:36:27.000 act completely misnamed a bill an act that actually has almost nothing to do with gay marriage civil gay

00:36:32.780 marriage is already legal in every part of the united states it's largely uncontroversial but republicans

00:36:38.620 joined with democrats to pass a bill that will surely become law that is going to become a weapon

00:36:44.300 effectively making illegal a belief a private belief in traditional one man one woman marriage and it

00:36:53.260 will lead mark my words to the knock on the door at your rectory if your church dares to uphold and

00:36:59.040 believe in this it's it's it's criminalizing christianity can we go ahead and play the uh

00:37:04.980 the pal uh piece right now on commentary on this let's go and play it last press conference that

00:37:10.020 you thought the path to that soft landing had narrowed has has it continued to narrow or is it

00:37:15.700 widened or i don't know if you can have a wider soft landing but i i don't know that it's changed

00:37:19.820 since that was this is what five six weeks ago i was asked the question has it narrowed is it still

00:37:24.760 possible and as it now is it it's definitely still possible and it has narrowed because if you look over

00:37:29.720 the course of this year nobody expected us to raise rates this much no one expected inflation to be

00:37:35.780 this strong and this persistent and this you know to move up to have spread so broadly through the

00:37:41.060 economy and so to the extent we need to get keep rates higher or keep them higher longer that's going

00:37:47.680 to uh narrow the path to a soft landing okay uh steve cortez that's the apparatchik that is the current

00:37:54.960 uh federal reserve chair um give me that was a cartel speak is he getting dovish to good market

00:38:01.700 did he put a little bit of the punch bowl back back on the table are they starting to blink about

00:38:06.540 this sir you know look i don't think so i mean yes i believe he was dovish in comparison to other

00:38:12.360 fed speakers particularly bullard over the weekend who was about as hawkish as you could be you know

00:38:16.780 and so i mentioned that i thought he would temper their remarks just a bit but listen i think even

00:38:21.040 powell uh who again as i also mentioned he could only succeed in a town like washington dc

00:38:25.940 but even powell realizes now the gravity of the crisis that they helped to create what i think is

00:38:31.620 important there by the way in his interview at the brookings institution for people who don't follow

00:38:35.900 brookings by the way that's sort of the the think tank vatican of the establishment left in washington

00:38:41.920 dc for him to get in front of brookings and say oh nobody could have foreseen this it was impossible

00:38:47.020 for us to foresee that is such bs it's hard for me to even stomach it i mean it should make you want

00:38:53.480 to scream because any honest observer of interest rates of bond markets of budgets knew very early

00:39:00.460 on exactly what was going on and certainly your show did a wonderful job of educating and arming

00:39:05.880 the american people all the way back in early 2021 that we were going to face an absolute explosion in 0.51

00:39:12.080 inflation surely jerome powell uh with the apparatus of the fed with the army of phds should have been

00:39:18.540 more than aware of what was going to happen i believe he probably was and like but there were

00:39:22.500 but he decided to prioritize political narrative let me understand folks have to understand something

00:39:28.140 the wall street uh oligarchs in in the uh in in the government are running the country's finances on

00:39:38.100 probably the most radical theory i think to to come up into finance maybe forever modern monetary theory

00:39:46.460 the deficits don't matter this thing and and and it was larry summers i think david stockman in our show

00:39:53.040 on the american recovery act and all these other things said hey aggregate demand is coming back you're

00:39:58.220 just gonna you're gonna put jet fuel on a dumpster fire that's what we've done i didn't hear a lot of

00:40:02.620 republicans at the time even coming forward but modern monetary theory this is my point about where we are

00:40:08.360 with this omnibus bill that's what we need to fight and force biden to shut down the government

00:40:12.860 if we don't lance the boil now you're still on this thing remember every 12 months it's going to be

00:40:18.860 another two trillion dollars right and up here this is why they're talking about it's insanity they're

00:40:23.620 talking about 40 or 50 billion dollars for ukraine and we're going to do this here and that there and

00:40:27.600 this here it's all madness uh steve cortez yes and particularly in an era of rising interest rates

00:40:34.820 because of the inflation that has been created by powell and yellen and biden again we've been

00:40:41.020 borrowing is spending too much for a very long time but we were able to get away with it because

00:40:45.240 of artificially suppressed interest rates okay that low interest rate bubble has been popped

00:40:50.460 by biden's policies and we can no longer get away with it the global bond markets were effectively the

00:40:55.800 bank have said if we're going to continue to loan you money we need much higher interest rates to do so

00:41:01.400 so that game has ended uh it's it's a good thing on the whole that it's ended but getting back to the lame

00:41:06.400 duck session uh and and points of leverage this is what is so critical what we cannot allow nancy

00:41:11.600 pelosi and chuck schumer to do uh is to pass a budget that takes away the power of the purse

00:41:17.380 effectively from the incoming gop house because that is our pressure point that is the leverage

00:41:22.720 point for the gop house and we must make sure that it is maintained and that it is effective come

00:41:28.620 january by the way this is what we talked about the other day the global uh inverted yield curve but this

00:41:33.640 was the wall street journal a couple days ago after we called it treasury yield curve inverts to

00:41:37.800 deepest level since 1981 the money gets a vote here the money gets in your life ask yourself does the

00:41:45.500 money get a vote in my life uh yeah it does the money gets a vote and its vote is okay what's the

00:41:51.480 vote what's the vote yeah i got it i don't we don't agree so we're gonna you can do it but we're gonna

00:41:56.260 charge you more you can do it but you're gonna charge you more this is where ralph norman the old guy

00:42:01.120 comes up here and says hey i asked mccarthy with seven years of balanced budget not gonna do it

00:42:06.020 he said hey look brother we're gonna have some tough fights here i need a fighter

00:42:09.980 a economic and financial crisis is building okay and you remember this audience you're the chairman

00:42:17.900 of the creditor committee and we'll put the burden on your shoulders we're gonna sort this whole thing

00:42:22.380 out rasmussen next to talk about arizona cortez is going to hang with us we got the great tutor

00:42:27.760 dixon joe allen next it's hard to grasp why anyone would keep voting for record inflation

00:42:35.200 skyrocketing crime in an open border likewise why would anyone keep funding the left by sticking

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00:43:45.580 slash bannon that's patriot mobile.com slash bannon or call 972 patriot

00:43:53.020 has arrived the new social media taking on big tech protecting free speech

00:44:00.460 and canceling cancel culture join the marketplace of ideas the platform for independent thought has

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00:44:23.580 my friend and i were talking france is our oldest ally our unwavering partner in freedom's cause

00:44:33.260 from the spirit of marcus lafayette who helped secure the success of our revolution

00:44:40.620 to the sacrifice of american gis who stormed the beaches of normandy let me have it our history has

00:44:48.380 been shaped by the courage court court court court cortez

00:44:52.060 brother lafayette what what was that what was joe biden

00:44:57.060 marcus de lafayette all right you know listen a couple things first of all uh joe biden was elected

00:45:04.860 to the u.s senate in 1972 he has been there for 50 years okay in a town where lafayette's name is

00:45:12.860 everywhere including the name of the park the square that is directly across from the house where he

00:45:17.260 happens to live and yet he doesn't know how to pronounce marquee in front of the french president

00:45:22.300 and by the way france is one country that takes its language very seriously and i think they are

00:45:27.260 admirably protective of their language and culture and they must be laughing pretty heartily at marcus

00:45:34.140 de lafayette today by the way let me also say this why wouldn't the staff if i worked on biden's staff

00:45:39.340 okay knowing his cognitive abilities i would have spelled that phonetically in the teleprompter you

00:45:43.820 put it in as m-a-r-k-e-e right so that the boss actually gets it right so it's also a staff fail

00:45:49.820 there and we know and we know you know he reads everything right off the teleprompter including the

00:45:54.540 pauses in the in the comments and the dots but in it it talk about the lame duck why is uh it nothing

00:46:03.660 happens by chance macron's over here because they understand you this audience is now in charge and

00:46:10.540 you're not going to be shoveling 50 billion dollars ukraine and if you ain't shoveling it that means

00:46:14.940 the people of france got to pick it up and he ain't got the support this is because of this audience

00:46:20.220 he's over there he's schlepping over here breaking up his christmas holiday because in france they

00:46:25.260 start paris is probably the greatest christmas city in the world not that they get into the

00:46:30.140 religious aspect of it but it's absolutely stunning during christmas he schlepped over here for one

00:46:34.540 reason he understands in this lame duck the right of the republic party the america first part of this

00:46:41.580 steve cortez could shut down this ukraine madness what they said yesterday 100 000 troops dead 20 000

00:46:47.180 civilians dead what the war room and cortez and all of us said in the very first day of this war

00:46:53.820 you're going to end up at the same place but you're going to have tens of thousands of ukrainian

00:46:59.340 men women and children slaughtered in a place that looks like dresden after world war ii steve cortez

00:47:04.620 about macron's trip steve i think you're exactly right uh listen there was a reason that he dragged

00:47:10.540 his grandmother over here across the atlantic to the united states because he realizes that the american 0.57

00:47:15.180 right is ascendant and has power right now in the house of representatives and by the way the

00:47:20.460 american first movement can't just be about taking on china when necessary it's also about taking on 0.91

00:47:25.260 the eu and i think there are two aspects to this right now that are critically important uh the eu is

00:47:31.020 right now threatening twitter for daring to engage in free speech okay now you may not be a fan of elon

00:47:37.340 musk certainly not fans generally out there of twitter as an organization but here's the point we have to

00:47:42.220 stand up for american free speech against the tyrannical eu against brussels and davos and at

00:47:48.540 the same time we need to stand up and say if ukraine is a problem beyond the black sea and i don't happen

00:47:53.900 to believe it is but if it is it surely is not america's problem it is the problem for germany and

00:47:59.340 france and italy to handle not the united states and this burden is going to be put upon you not upon the

00:48:06.380 good citizens of the united states we don't have the money europe and all these great all the wealthy

00:48:11.340 over there let's let's see them pony up cortez hang with me for a second we'll bring in mark mitchell

00:48:16.300 from rasmussen these amazing polls mark you've been out and you've you've gone out to the american

00:48:21.820 people and talked to them about arizona what what is the feedback you're getting in your polling sir

00:48:27.900 yeah and so everybody knows we've pulled on election integrity issues more than really any other

00:48:32.620 pollster we've asked thousands of people these questions and when these results came back i had

00:48:37.260 to run it again just to make sure they were right and the benchmark here is that the highest number

00:48:42.300 i've seen so far of people agreeing that election integrity problems exist is the 59 percent uh who

00:48:49.500 said that cheating likely affected the outcome of the 2020 election so the question we just asked

00:48:54.460 everybody was republicans in arizona say problems with the election in maricopa county prevented many

00:49:00.300 people from voting how likely is it that these problems affected the outcome of the election in

00:49:05.420 arizona and 71 percent say yes so that's a 12 point increase and it's driven almost entirely by

00:49:13.500 increases in democrats and independents so going into this uh you know the last time we asked is

00:49:20.140 widespread cheating going to affect the 2020 midterms only about 36 percent of democrats said it was

00:49:25.980 likely but here's 65 percent of democrats say that it's likely that issues in maricopa affected the

00:49:32.380 outcome and that's with the word republicans in the sentence so two-thirds of democrats are saying

00:49:38.060 republicans you know were affected by botched issues in maricopa uh now 23 percent only say very likely

00:49:46.220 but you only see 20 percent saying not at all likely so this is the biggest number i've ever seen for

00:49:51.420 democrats and you know it's a big step change in public opinion and you know one would wonder why

00:49:58.460 is this happening now i think part of it is that the things we saw in 2020 didn't necessarily get out

00:50:06.460 there and they're getting out there now and maybe that's just because the maricopa is so flagrant or

00:50:11.820 maybe it's because people are seeing things on twitter that they weren't seeing before um but i i think

00:50:17.820 there's an important lesson here to be learned about the democrat electorate and that's a democrat

00:50:23.340 voters they don't like cheating 90 of them say it's important to prevent cheating in elections

00:50:28.860 and i think one of the problems that the democrats have is that the values of democrat voters do not

00:50:34.940 match the values the national democrat platform uh you know to give you an example we asked california

00:50:41.500 democrats um you know should abortion be legal from six to nine months only 19 of california democrats

00:50:49.260 think that and yet abortion was the number one issue nationwide for democrats going to vote in the 0.71

00:50:54.860 midterm so are i i just wonder looking at this are cracks beginning to appear in their ability to

00:51:01.420 control the narrative because they need to uh so the other question we asked is whether voters

00:51:07.020 i tell you i tell you what hang on a second because i'm going to hold you over i got to get

00:51:10.700 to this i want to particularly go back because it's the relentless pounding of that's what 59

00:51:16.940 of the american people think cheating affected the 20 2020 election okay so everybody's sitting there

00:51:25.020 the election deniers they got these grand juries trump's going to go to prison all this stuff 59 of

00:51:30.300 the american people in 71 i tell you what we're gonna take a short break 90 seconds we've got cortez

00:51:36.780 is going to stick with us we got the great tutor dixon joe allen's going to come libby emmons from 1.00

00:51:42.700 um from post-millennial all of it this is going to be jammed and of course mark mitchell from rasmussen

00:51:48.940 stick around 90 seconds back

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Bannon's War Room - December 01, 2022

Episode 2341： The Congressional Cartel During The Lame Duck

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