Bannon's War Room - Episode 2443： The Payback For Modern Monetary Theory

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

00:00:09.760 medieval on these people you're just not got a free shot all these networks lying about the

00:00:16.100 people the people have had a belly full of it i know you don't like hearing that i know you've

00:00:20.320 tried to do everything in the world to stop that but you're not going to stop it it's going to

00:00:23.220 happen and where do people like that go to share the big line mega media i wish in my soul i wish

00:00:30.840 that any of these people had a conscience ask yourself what is my task and what is my purpose

00:00:37.220 if that answer is to save my country this country will be saved war room here's your host stephen k

00:00:46.940 we're at a fork in the road now we can make good decisions or bad decisions but we are we're at the

00:00:56.900 edge right this is this is also a really important uh point um we are in a situation where uh recent

00:01:06.400 data suggests there is a credible plausible path uh to uh steady stable growth to a soft landing to

00:01:14.800 whatever term you want to call it where we maintain the very important and impressive gains that we've

00:01:21.340 seen under this president's uh administration to the labor market you know 4.5 million jobs last year

00:01:28.440 you heard lloyd doggett talk about the loss of 6 million jobs so we could wipe out a year of job gains

00:01:32.940 but those job gains with inflation now down two and a half points from its most recent peak

00:01:39.200 last summer we are making real progress towards that steady stable transition to growth the idea

00:01:46.300 that you would want to um undermine the full faith of credit the government to to actually uh take uh

00:01:52.580 steps that would far far increase the likelihood of negative things happening in not just our economy

00:01:58.280 but in the global economy uh is beyond reckless beyond irresponsible i'm not sure i i i have the

00:02:04.040 adjectives for it right now really empowered house conservatives have triggered a high stakes fight over the

00:02:08.340 debt ceiling yesterday the treasury secretary janet yellen announced that the u.s will hit its debt

00:02:13.400 limit on thursday she warned house speaker kevin mccarthy that this is quote critical that congress

00:02:18.640 act in a timely manner to increase or suspend the debt limit republicans in the house intent on cutting

00:02:25.040 government spending are coming up with a contingency plan according to the washington post house

00:02:29.540 republicans are preparing a plan telling the treasury department what to do if congress and the white

00:02:35.020 house don't agree to lift the nation's debt limit later this year the post adds the emerging contingency

00:02:40.980 plan shows how republicans are planning to threaten not to lift the nation's debt ceiling without major

00:02:46.360 spending cuts from the biden administration now if republicans decide not to lift the debt ceiling it

00:02:52.080 will undoubtedly start a fiscal showdown that will have huge consequences for the american people

00:02:57.220 possibly people all over the world it is important to understand the debt ceiling here's how it works

00:03:02.220 the government takes in money through things like taxes and duties and spends money on all the

00:03:06.660 things that government spends money on if in a given year the government spends more than it takes in

00:03:11.460 that's a deficit according to the u.s treasury department in the last 50 years the federal government's

00:03:16.820 budget has run a deficit in all but five years most recently in 2001 as you can see uh that year the

00:03:26.680 congressional budget office says the federal government brought in roughly four trillion dollars

00:03:31.140 it's spent about 6.8 trillion dollars creating a deficit or shortfall of nearly 2.8 trillion dollars

00:03:38.300 the accumulation of all those deficits is the national debt which now stands at roughly 31.5 trillion dollars

00:03:45.880 many people worry about this debt and how we're going to pay it back and that's an important

00:03:49.640 consideration but until we get an answer to that let's just look at how those deficits and the debt

00:03:54.340 are financed where does the money come from well it comes from bonds issued by the government

00:03:58.640 and sold to investors the bond is a promise to pay back a loan at a certain interest rate the rate is

00:04:04.500 comparatively low because a loan made to the u.s government is considered the safest investment

00:04:09.400 on earth but now once again that is at risk as some republicans threaten to not allow the debt limit

00:04:16.660 which is the amount of money the government can borrow to pay its bills to be raised if republicans

00:04:23.640 succeed in that effort the government would have to do what an individual or a company would have to do

00:04:27.720 reprioritize who gets paid first and in the case of the u.s government interest on those bonds have

00:04:33.220 to be paid first because of a payment to a bond holder is missed the credit rating of the entire

00:04:38.100 united states could drop and the interest rate for borrowing any more money goes up and that could

00:04:44.000 cause inflation as costs get more expensive it could cause a recession making the one or make the one

00:04:50.040 we're headed into possibly worse the worst case scenario however is that it causes both inflation

00:04:56.520 and a recession which is a very difficult position to get out of the idea that a government like a

00:05:02.580 household shouldn't spend more than it takes in okay is interesting but it's incomplete

00:05:07.560 okay okay um welcome it's saturday 14 january in the year of our lord 2023 um they hit the panic

00:05:19.160 button good job boardroom they hit the panic they've hit the panic button and um now they've sent the

00:05:28.080 letter we're going to hit the dead signal as we said before this thing was going to happen

00:05:32.560 in january february then they said well it's not going to really be the june or the fall or whatever

00:05:37.060 so i want to bifurcate some things because um the audience not the show but the show's audience

00:05:46.640 having such a huge impact um they've done this for a number of reasons number one they panicked

00:05:52.920 number two they want to get the discussion away from the crimes of the top secret compartmented

00:05:58.460 uh information that clearly their crimes they're major crimes from a number of people i also want to

00:06:05.820 put a name on your on your get your number two pencil out because i got a name for you just to jot down

00:06:12.820 i'm gonna get back to it later dana remus dana remus white house counsel's office left i think on

00:06:22.940 october 2nd we're gonna get the full details of dana remus white house counsel's office left

00:06:29.640 the 2nd of october and she was one of the ones rummaging around in the pipe in the biden

00:06:37.380 penn center on 2nd of november there's no conspiracies but there's no coincidence why would

00:06:45.920 one of the top lawyers leave the white house counsel's office and then 30 days later be rummaging

00:06:55.060 around in the um in the penn center what you're going to find and this is where you know i had

00:07:02.240 chuck schumer on where chuck schumer's on yesterday and they asked him uh have any crime do you think

00:07:07.480 any crime because they're all saying hey this is not as bad as not as bad as uh as trump and not as

00:07:13.040 bad as mar-a-lago so they asked schumer hey uh because they say any crimes are ridiculous this is

00:07:17.540 all just made up it's nothing it's inadvertent they asked schumer have any crimes been committed

00:07:23.060 too too early to tell too soon to tell hey chuck you gotta you gotta get it you didn't get the

00:07:32.560 message you didn't get the memo from zen master jean pierre she just it's the process trust the

00:07:38.620 process uh process the process has started so jim jordan and the team have announced their own

00:07:44.340 independent investigation on the house we're gonna get to all that we're absolutely packed

00:07:48.060 but the debt ceiling since we've been driving this number one they say the debt ceiling is gonna

00:07:53.440 hit next week but then they said they're gonna run out of cash in their uh extraordinary measures

00:07:59.360 they're gonna run out of cash in june so um they want to put the gun to your head now and you've seen

00:08:06.120 it right there with ali valshi that was last night with the economist from the uh from the white house

00:08:10.740 bernstein i think jared bernstein uh they've got uh all you're just going to be bombarded sunday shows

00:08:16.640 them are bombarded because they want to change the conversation around the crimes right and around

00:08:22.020 all the investigations right they got to change the conversation so now it's the extremist uh worst

00:08:28.780 element of the trump movement uh that would be you audience just make sure when they're saying most

00:08:34.180 extreme uh radical uh worst people on earth they will be talking about you okay just remember that

00:08:41.320 the um that now they're going to drive you know got this amazing turnaround you got all these

00:08:47.720 great numbers they're putting up right we're putting up all these great numbers and what's

00:08:52.920 going to snatch you know it's going to destroy the american economy is now the worst elements going to

00:08:58.120 dig their heels in and now let's burn by the way this is all for just to just say a thing that

00:09:02.500 the founders didn't even think about it was just a line in the in the constitution and it's already

00:09:06.520 money being spent you're going to see every line misrepresentation spun non-stop but we got them

00:09:12.220 because they panicked one of the things i heard they panicked about the more people understand about

00:09:17.180 this the more people understand the less they want to raise the debt ceiling so no hang over a second

00:09:23.480 two things uh concepts so three concepts remember we try to teach no nomenclature first

00:09:33.520 then then then process or critical path then the statics and dynamics of process so you kind of

00:09:39.640 understand for yourself and you can think for yourself there's all these all this jargon has

00:09:44.300 turned out so extraordinary measures extraordinary measures if they hit the debt ceiling in the next

00:09:49.580 couple weeks they can't barney more money you can't issue any more bonds isn't that terrible

00:09:55.020 isn't that just terrible uh but by the way he did say a thing he said oh we we sell it to investors

00:10:00.380 well hey a lot of it we just buy ourselves because there's nobody there to sell it that's

00:10:04.380 just monetizing the debt that's just printing money the um so uh extraordinary measures this is what

00:10:10.620 the treasury is going to do the other is prioritization of payments that is now it's a buried lead in the

00:10:18.100 guardian story i've got these up on getter uh the guardian story's got it buried about the fifth

00:10:22.400 paragraph this is what we talked about on the show this is what we talked about with russ vote this is

00:10:27.160 what russ vote and i worked on uh in 17 where we're going to hit um a debt ceiling issue and we worked

00:10:34.700 on hey how okay why can't you just go to a prioritization of payment ali voucher just said it

00:10:39.380 cash comes in interest payments get paid off so all the bonds everybody's happy you don't lose any

00:10:45.440 credit rating then you pay the face amount off any bonds coming due so that gets paid then you pay

00:10:49.720 social security medicare uh then you have a discussion right then you prioritize your payments

00:10:55.980 so prioritization of payments and what was leaked in the pressure says that's the republicans are

00:11:02.460 actually working on that now there's the republicans are actually working on a prioritization of payments

00:11:06.440 plan the third and i think this gets lost in the in the in the the back and forth

00:11:13.160 but remember we put this over to the guys at the committee one of the things about the pandemic

00:11:19.540 let me go back in time one of the things about the pandemic that fauci and burks and if you read the

00:11:23.760 books if you read kushner's book if you read uh if you read uh pent judas pence's book read all i've

00:11:29.560 read every book every book about this time just make sure i'm not missing anything uh they never talk

00:11:35.440 and i said this on the show at the time they never talk about the internal model of cdc or fauci

00:11:43.140 or nih what was the internal model you had you had southampton university you had hong kong

00:11:49.160 university you had the university of washington seattle you had all these models about the curve

00:11:54.480 and icu capacity and in the mortality rate you know the the the the the covid you know how it would go

00:12:03.020 through the population everybody had this mortality curve the death curve right i said where was cdc's

00:12:07.900 where's it's like a company on wall street you've got first boston saying these are the earnings

00:12:12.160 goldman sachs saying these earnings morgan stanley saying these earnings what's the company's

00:12:16.720 projection was a company telling the street what is what is their forecast right never saw that

00:12:23.600 that's got to come up this nobody knows today we're like what did cdc tell the president

00:12:28.500 what was this task force telling the president it's never mentioned any of the books what was the

00:12:33.660 internal model the same thing here hey baby you just told me you're hitting the debt ceiling

00:12:39.620 you just sent a big old official letter to mccarthy you know you just sent it say you're hitting the

00:12:44.960 death ceiling next week surprise surprise worm told you next week but your extraordinary measures

00:12:50.300 i've got enough cash i can play with things i can you know turn up and going back to the treasury

00:12:56.440 and pull all the cans out of the out of the uh out of the lawn tomato cans and i've got i've got cash

00:13:03.100 i can pay till june okay i got that just give me your cash flow model that's the first thing you ask

00:13:09.500 for in a restructuring or bankruptcy or anything and hey guess what baby you're bankrupt you're stone

00:13:14.920 cold bankrupt you're coming back to the parents you come to the credit the head of the creditors

00:13:18.980 community the war room posse you're asking for the credit card to be increased hey maybe maybe not

00:13:24.560 we don't know give us your give us your cash flows let's see the cash flow model we have to force

00:13:31.440 we have to force uh yell and this is why she's sticking around remember she was gonna she said 1.00

00:13:37.820 she was quitting before they blew her out before the campaign she's worst treasury secretary in 1.00

00:13:42.340 history they didn't want her as an albatross we're getting rid of her she's leaving she ain't leaving 0.93

00:13:47.420 because of this and they know they couldn't get anybody confirmed the confirmation hearings would be

00:13:52.360 a bloodbath so poor janet yellen stuck with the duty hey janet miss secretary mrs secretary 1.00

00:13:59.640 please send us your cash flow model not that we don't believe you but it's like any company okay

00:14:06.160 trust but verify trust but verify oh baby the hunted become the hunters on every different aspect now

00:14:19.540 we got them every different aspect just have to close the deal as we know there's a long way between

00:14:25.520 the cup and the lip on that short break dean dave bratt is going to join us he knows the inside

00:14:33.940 workings of congress how the whole mechanism works also we're going to talk a little bit about the

00:14:38.560 balance sheet of the federal reserve i thought we had a cap of 31.4 million dollars how does that how

00:14:44.040 does mercatus is telling us the nine and a half trade on the fed how did that happen all next only in

00:14:51.360 the war room okay welcome back uh mypillow.com promo code war we're going to talk about the rnc

00:15:09.960 race here in the bottom of the hour john frederick's going to join us about this debate

00:15:14.100 mike lindell breaking news i think i think politico is saying this mike lindell has qualified now with

00:15:20.360 three states to actually be officiant on the ballot ballot harme dick dylan i think it's got 10 states

00:15:25.480 so she's officially on john frederick's going to be on about a proposed debate who's going to be in

00:15:31.280 there who's not going to be in there make sure you go to mypillow.com promo code war room uh the sleep

00:15:37.580 the sleep of the just 20 i should have gotten more sleepless i had i was up to the wee hours then didn't

00:15:45.140 get much sleep you know why there's so much going on i've never seen like this behind the scenes you

00:15:51.120 know things are just cranking people are working like crazy and uh there are big fights ahead of

00:15:56.360 us and they just dropped this debt ceiling which they're it's they've totally completely panicked

00:16:02.280 dave bratt you've been around a long time give me your you've been with us riding shotgun on this

00:16:07.040 thing now for over a year in the debt ceiling alone tell us about we told everybody that was the

00:16:12.780 one of the big things for the election about losing the house they were going to freak out

00:16:16.720 and you saw in the in the speakers debate last week that's all they talk about look at these

00:16:21.000 extremists if these extremists take over they're going to ruin the full faith and credit united states

00:16:25.820 here's who ruined the full faith and credit the united states the radical democrats their buddies on

00:16:31.300 wall street and the oligarchs in corporate america that believed in this radical concept called

00:16:36.880 modern monetary theory where deficits didn't matter we've preached on this for years

00:16:42.580 modern monetary theory where deficits don't matter until they do and now we're in this jam and

00:16:51.340 you're going to see all these people listen the war in posse the strict parent that for love of the

00:16:58.680 child is strict and it's hard you know how hard it is but you're strict for with them so that they

00:17:06.300 have formation so that later they become productive and happy and self-sufficient adults right you

00:17:14.900 totally understand what i'm talking about you have to be the adult in the room you this audience if

00:17:21.300 you're the adult in the room we're going to get through this and you're going to be called every

00:17:25.360 name in the book like a child thrown a temper tantrum that's what you're going to see now this is a

00:17:30.240 temper tantrum at a high level and you're going to be called everything in the book mean cruel

00:17:36.220 unyielding unfair you're unfair you're mean you're cruel all of it same thing you're going to be called

00:17:44.380 that just so just buckle up you stand between the the these radicals who never care about anything

00:17:53.320 and never worry about anything but got to come back to mommy and daddy and get the credit card up

00:17:57.720 and and complete armageddon it jared is bernstein a heavy hitter brat or they roll him out when they

00:18:04.800 got to start trash talking uh the american people he's good your uh parental metaphor there was good

00:18:12.640 and that jared is likable and he comes across as a parent but uh he's got one fatal flaw now everybody

00:18:21.080 listen real careful here i did a phd in economics you know five years of suffering and then taught

00:18:26.040 it for 18 years i have a very technical argument i have to make right here and so we go through this

00:18:32.180 uh fear mind ring every year on raising the debt ceiling and so the technical solution to this

00:18:38.560 uh which jared never seems to get at is called a balanced budget right so that's a very technical

00:18:46.060 you know requires years of study to get at this but if you don't want to have this recurring nightmare

00:18:53.520 of losing the full faith and credit of the united states of america which never happens and they it's

00:18:59.660 just like the federal reserve right the forecast the blue chips they're wrong every year intent we know

00:19:04.940 it's intentional but the average american doesn't have time to deal with all these issues because

00:19:09.880 they're busy leading their lives and taking care of their kids uh so so bernstein is clever uh but then

00:19:16.960 the fed comes out uh with with some new staggering news the fed who's got you know floors and floors of

00:19:24.420 phd economists uh missed the idea that uh if you borrow long like a hedge fund and then you're borrowing

00:19:31.640 off of your short-term rates which have now gone from zero up to five percent uh they're coming up a

00:19:38.020 trillion dollars light uh and they did not present that risk analysis to congress whatsoever and so

00:19:47.060 it's just stunning that's a trillion dollar tax bill coming to you okay but hang over a second

00:19:54.220 i want to make sure we're not throwing too much at them at one time we have a the treasury and that's

00:20:01.380 where you got the barring the face amount of of the of the debt remember the debt it's gone from 10

00:20:06.500 trillion to 30 trillion like that bang okay so somebody's got to be the adult here in addition

00:20:12.520 you've got the social security in medicare true payments this is why um uh congressman norman came

00:20:20.380 on here and said hey the real debt he thinks is 60 trillion okay but and i think it's actual but let's

00:20:25.140 leave that off to the side just another 30 that's hard money you got to pay then you've got you've got

00:20:31.680 contingent liabilities but they really ain't that contingent i don't know net present value that

00:20:36.180 is let's say 100 trillion dollars okay and we can walk you through all that but then all that as as

00:20:43.540 as messed up as it is as screwed up as it is congress has at least authorized it right so you may not like

00:20:50.840 it but somehow there's some statute that actually allowed that to be spent or quasi allowed it to be

00:20:55.320 spent there's a lot slipped in there but the into the crevices but at least congress is on the hook

00:21:01.600 for saying that then you've got the federal reserve because remember the debt ceiling by statute right

00:21:08.720 now is 31.5 trillion dollars you've got the you got the fed over here they've got nine and a half

00:21:15.480 trillion dollars on their balance sheet how did that happen but but because mercatus and you got it

00:21:20.660 this study is very technical but you just skim it you should skim it they've got down that with no

00:21:26.640 congressional authorization what these guys have done with the it's called the trillion dollar triage

00:21:32.360 they just created a trillion dollars out of nowhere during the pandemic and now because the inverted yield

00:21:39.280 curve they're they're going to have a trillion dollars of interest payment they're trillion dollars

00:21:43.420 short they brought so we got another smoking landmine over there that no they don't even want to

00:21:49.160 talk about is that basically what we've got here's the point just like they haven't uh audited

00:21:54.840 the pentagon and they can't audit the pentagon they haven't audited ukraine because you can't audit

00:21:59.980 uh and you've read gateway pundit they got some young american volunteer over there says hey none of

00:22:04.940 the stuff gets to the battlefield they all sell it off beforehand you can't audit the pentagon you can't

00:22:09.660 audit ukraine the fed never has never been audited right remember ron paul and rand paul said hey

00:22:16.280 let's i want to end the fed they just wanted to i mean they wanted to audit it you can't audit the fed

00:22:21.280 and they won't let you and you know why day brad because they got these smoking bombs over there

00:22:27.100 they're about to go off the whole thing's a mess the whole thing's a mess this is why janet yellen and

00:22:33.500 pal screw both you people i don't hear don't send any more letters don't go to the press don't send 0.98

00:22:39.320 jared bernstein out there don't have alie vechi uh whining every day up on our grill about this don't tell us 0.98

00:22:44.960 hey you are the full faith and credit of the united states this audience is the full faith and

00:22:50.980 credit and don't let anybody ever tell you otherwise you you're the people that go to work

00:22:55.860 every day you're the people that pay the tax you are the full faith and credit of this nation

00:23:00.080 full stop and what you demand right now show me the i want to see the cash flow model if we're

00:23:06.580 going in to lend any money if you're going to lend any company bankrupt or not show me the model

00:23:12.360 so janet yellen show us the model and pal show us the model what the hell's going over the fed 0.99

00:23:18.460 brad this is a scandal and we got so many you got the vaccine you got the covid you got the

00:23:26.600 invasion on the southern border this is what happens when you have radicals remember their

00:23:31.340 great idea brad was modern monetary theory we can just spend on infrastructure we can spend on

00:23:37.760 build back better we can spend on the american recovery plan remember all the happy talk he gave you

00:23:42.140 and what bernstein's telling you got a sugar high now off all the government spending that's the

00:23:47.600 only reason biden's got anything going right they've got the sugar high off of that off the 1.00

00:23:52.600 trillions they spent the trillions and trillions of dollars that the collaboration is mitch mcconnell

00:23:57.500 and these guys are going to be sitting in the senate's going to be saying well you gotta you know

00:24:01.220 there's a full faith and credit you gotta you gotta raise the debt ceiling right this is where we are

00:24:06.780 if this audience doesn't dig in on this look at the kids and grandkids because they're the ones

00:24:13.120 going to get crushed hey brad yeah well it's interesting that they're blaming the republicans

00:24:18.320 the adult in the room for for ruining the economy actually uh the fed ruined the economy back in 0 7 0 8

00:24:24.420 and now they've ruined it again and so the real story in that mercatus piece is that they already had

00:24:30.800 the federal funds rate right the the fed interest rate set at zero percent for a decade and that

00:24:38.440 wasn't enough stimulus uh to keep the economy which these elite experts uh have managed over the past

00:24:46.520 decade so they they lowered the interest rate to zero that's not good enough so then they had to come

00:24:51.920 up with another trillion through qe4 quantitative easing four and they totally miscalculated uh

00:24:59.900 the short uh term interest rate but it was going to go way up and they have to pay that back

00:25:05.900 so that's costing us another trillion so who ruined the economy all of these establishment elitists 0.87

00:25:13.460 with the green span put with interest rates which is the main price of money right free market people

00:25:19.680 you don't mess with prices those are the receipts prices don't lie cortez always says that's correct

00:25:25.980 the entire rationality of our system is built on the federal reserve the interest rate system the 10

00:25:32.180 year treasury big deal they messed it all up now we have to come to the rescue and they always blame

00:25:40.220 the adults in the room uh who want to balance the budget and the best adult in the room is russ vote

00:25:45.880 uh who has a plan uh to put this in shape and then you can get rid of the fear mongering immediately

00:25:52.280 on this messaging piece uh to jared thomas massey uh put a cr uh together that funds the government

00:26:00.420 at 90 percent uh and there's no debate just fund the government right today give it a 10 percent haircut

00:26:06.980 funded at 90 percent done deal we're done with this juvenile discussion oh hold it brad i'm gonna hold

00:26:14.240 for a few minutes i know you got the stuff doing so anymore let's hold you shortly after the break

00:26:19.060 a 10 percent across the board budget kind of discretionary spending this city would vapor lock

00:26:25.820 that's the type of thing you need i love massey uh russ vote remember here's the watchword

00:26:31.480 we're not going to be hurried in this we're going to have to take a deep breath we want to see your

00:26:36.700 cash flow model first and we're going to give you the prioritization plan maybe we even base it off

00:26:41.600 your cash flow model if it makes sense right but we got to see that we have to see that show us the

00:26:46.700 model don't send any more letters don't send any more nasty letters or letters help me help me help 0.57

00:26:52.240 me we're out of cash sorry not sorry in the war room here's your host stephen k band

00:27:01.480 okay we're gonna go from the world's capital markets we're gonna go to where the full faith

00:27:08.280 and credit of the united states of america rest upon and that is the hard-working grassroots folks

00:27:13.640 in this nation we're gonna go to south dakota jessica palema is out there jessica tell us what's

00:27:18.760 going on who's the posse out there what are you guys fighting for today yeah we have a large crowd

00:27:25.080 here in the hallway at the meeting room in here so we we showed up um people are holding signs

00:27:31.380 american flags um we are fighting for our voice as precinct mini men um this is mr nelson um why are

00:27:39.580 you here today i'm here because uh the people need to retain their voice in our state gop party

00:27:48.380 we're bleeding membership and a lot of membership in the young people i come from a family that has

00:27:56.800 been involved in republican politics my dad was a county chairman for the party for a while and uh

00:28:04.540 we can't get young people to sign up they're signing up independent they're registering independently

00:28:09.820 because they say the republican party doesn't doesn't say talk for us anymore rural south dakota

00:28:16.620 leaving the republican party because of what they're doing uh to take away our voice and take away our

00:28:25.440 representation and center it in the urban areas of the county in the east end and the west end rapid

00:28:32.980 city sioux falls and the larger cities and i'm here to try and retain the voice of rural south dakota

00:28:40.980 um i can pan around here and sorry go ahead no go ahead jessica give some more people

00:28:51.180 all right so i'm just gonna turn sorry not doing a very good camera job but we got people here with

00:28:58.560 signs flags ultra proud mega ultra mega um we're here to save our voices this is south dakota south dakota

00:29:07.760 everybody say hi so yeah we're here we're here you're gonna fight the good fight here's what i'm

00:29:20.900 confused about i thought i thought christy noem the governor was a grassroots person does she have 0.94

00:29:26.380 you're backing this are you guys communicating with her um you know you go ahead i don't know there's a

00:29:35.120 lot of the people that bill that christy has sided with uh i like to term them i'm back i'm old enough

00:29:41.600 that i remember the fight between rockefeller and goldwater and uh most of south dakota are goldwater

00:29:48.760 republicans and uh we don't go along with the the rockefeller wing of the party as as much as a lot

00:29:56.400 of states do

00:29:57.220 on the rural areas bill that christy has become a part of the rockefeller wing of the republican party

00:30:06.700 hey jessica yes jessica what what time does the meeting start

00:30:19.180 um the business meeting where they are going to vote starts at 10 and then the elections for the

00:30:25.860 new uh republican care happen at at uh noon i think this afternoon session now there's been a lot of

00:30:34.920 problems here where the the current state party chair dan lederman is actively suppressing newly

00:30:40.240 organized counties that um had their elections they have patriots here to vote and now they are

00:30:46.360 playing technical games word games i'm not letting them vote today too so there's a lot of moving parts

00:30:51.880 but you guys are dug in tell me what the key vote to make sure the precinct strategy people

00:30:59.080 still have a voice what time is that going to take and are you guys going to be allowed

00:31:03.020 in the room for that vote they are not allowing us in the room in fact they called the police

00:31:07.500 already the police have been here um and made our media person leave uh we are not allowed in the

00:31:15.300 room we have patriots in the room but first they're going to have a kind of a battle on counties that

00:31:20.380 they won't let be certified and able to vote because they know that's more votes for the grassroot

00:31:25.160 candidate tom bruner for party chair so it might be delayed um we just got to wait and see how this

00:31:30.660 plays out okay jessica i tell you what we'll check back in with you next hour okay get an update

00:31:36.920 tell everybody there we we love them and we got tell tell tell everybody there we love them and the

00:31:43.400 war room has their back okay we appreciate you god bless thank you guys john fredericks has seen

00:31:53.060 this time again brad's seen it again brad was a grassroots congressman came out of nowhere with no

00:31:57.400 money remember eric canter spent more money in in the primary where it was the first majority leader

00:32:02.700 in the history of this republic ever to be defeated in a primary uh eric canter had spent more money

00:32:08.400 remember this brad he spent more money at bobby vans his campaign spent more money for one dinner

00:32:13.120 than dave brad raised in the entire campaign brad was a pure grassroots phenomenon and john fredericks

00:32:20.560 remembers that because with john fredericks that uh that push it over the over the top brad before i

00:32:25.640 lose you how do people get to your we're going to get so much more into this remember they've

00:32:29.440 panicked here's the state of play they panicked on the debt ceiling janet yellen sent a letter

00:32:35.280 yesterday mccarthy said oh by the way the debt ceiling comes due next thursday and we need you

00:32:40.860 to increase the debt ceiling you know some unlimited amount you you pick it uh right now that's not going

00:32:46.540 to happen uh i can tell you the plan is everybody take a deep breath everybody slow down there's a

00:32:51.240 prioritization of payments plan being worked on over in the house that's going to be presented but

00:32:57.320 i keep saying the first thing is don't show that first yet let let the administration show their

00:33:01.360 model let's see the cash flow model hey steve don't don't don't don't give them don't give them

00:33:05.920 our plan until you know what their numbers are this is the problem with the pandemic nobody ever made

00:33:11.380 fauci without that little midget up there yammering all the time never ever made him come up and 1.00

00:33:15.600 actually put forth a model give me a model don't give me happy talk i don't want to hear rhetoric i want to

00:33:21.060 see numbers this is the way the world works everybody in business knows that right everybody

00:33:25.660 out there in the world knows that you got they all run off mathematics let me say that because

00:33:29.940 mathematics is a numerical representation of what you think reality is going to be

00:33:34.640 so show me the model that's what i want to say the prioritization of payment plans they're not going

00:33:40.120 to like it please remember in the audience you're going to be called every name in the book you're the

00:33:44.820 extremists that are calling causing this you're the people that breathe through their mouths are

00:33:48.700 calling this you're the people destructive they're calling us no they caused it they went down the

00:33:53.880 path of modern monetary theory remember the american recovery act and the infrastructure act and he's

00:33:59.400 run around build back better which they wanted to be six trillion it's just what is a train and a half

00:34:03.880 is is all that big party that's juiced whatever this dead carcass of our economy juiced up by government

00:34:11.200 barring and spending that is stopping you're not the problem this audience is the solution and the

00:34:19.240 solution is to be the adult in the room as these people run around and throw a temper tantrum and call

00:34:24.900 you every name in the book dave bratt any closing thoughts ideas before we get you back here on monday

00:34:30.440 yep yeah on the receipt it's a little ironic right now uh when they're starting to talk about the full

00:34:37.540 faith and credit the united states and going bankrupt that the federal reserve itself is

00:34:42.480 bankrupt they usually pay us a hundred billion dollars a year in remittances that's just a fancy

00:34:49.820 word for profits they make and that's misleading that's a shell game because they have a monopoly

00:34:55.600 on just setting interest rates so of course they're going to clear the market they can set whatever

00:34:59.520 interest rate they want so they make a hundred billion a year in profits they're negative they just

00:35:03.960 lost a trillion dollars for us on qe4 so the next 10 years of those profits are going to go toward

00:35:12.100 repaying what they just lost since they're now in bankruptcy at the federal reserve system let that sink

00:35:20.200 in for a minute okay right so bratt economics i'm going to start posting more because this is important

00:35:25.160 yes i got you got to get a bright economics on getter yeah hang on i want to before you leave

00:35:33.200 here's one of the reasons they panic in senate and i know this from the from inside scoop number one

00:35:39.260 they clearly want to change the conversation away from the the top secret crimes not just the cover-up

00:35:44.760 but the crimes that were committed before november 2nd in the handling of the most compartment

00:35:49.500 the highest biggest secrets in the united states government and dana remus why did we want to know

00:35:55.600 why she left as one of the white house in the white house counsels i watched you leave white house

00:35:59.880 counsel to go be his person why is she rummaging around in the closet of the penn biden center ma'am 0.98

00:36:08.560 why were you over there and why did you leave the white house become a personal lawyer to him

00:36:14.900 inquiring minds want to know this is why the democrats are in freak out mode right now

00:36:20.200 total freak out and quite frankly garland to cover his keister put the special prosecutor in her guy 0.72

00:36:26.780 who's up to his neck hers up to his neck in the deep state they want to change the conversation number 0.97

00:36:31.620 two they understand we get stronger every day a an informed public is the thing they fear the most

00:36:38.300 about this because once you understand the three card money you're gonna sit there go no no no no no

00:36:42.180 this thing in the federal reserve and mercatus and you know i love the guys in mercatus i'm not an

00:36:48.060 austrian economics freak azoid like dave bratt and these guys um but i admire the work i admire the work

00:36:55.480 they're doing i admire the work by the way bratt how did you go from a tennis pro from a tennis pro to

00:37:01.140 i never asked you how did you go from a tennis but frederick's wanted me to ask you this one how did

00:37:05.260 you go from a tennis pro to a ph you know i'd love tennis pros like golf pros i never think those guys

00:37:11.460 are einstein's cousin right so how'd you go from a tennis pro to a phd in economics god called me to

00:37:18.940 seminary and now you're keeping me from my bratt pit workout right now go go go we'll do this another

00:37:27.520 time i'm getting that i'm getting the signal we'll do it we'll do it another we'll do it another time

00:37:32.320 we didn't want to take you away from the ministry for the ph okay bratt we we got it over at getter

00:37:37.020 we'll push it out let me play i got a short cold open for john fredericks right now let me play that

00:37:41.540 let me play that let me play the the short uh close cold open for john fredericks make of what's going

00:37:47.180 on with this this far right group in the in the house right now what is it they want and how will

00:37:53.300 they succeed and how do they make sure that these 18 uh republicans who won in in biden districts and

00:38:00.320 many others who are otherwise moderate don't just sort of say we'll vote with democrats on some of these

00:38:05.820 things well they don't really care about that ali what they're giving it what they're doing is

00:38:11.280 they're giving their base voters what they want i'd add to what max said the one defining characteristic

00:38:17.620 of these republicans these next two years is revenge these two years are all about the are all about

00:38:25.540 revenge the base of the republican party ali believes the 2020 election was stolen house republicans

00:38:34.140 reflect that belief so they're going to investigate fauci and covid they're going to investigate big

00:38:39.940 tech who they thought helped steal the election and they're going to go after the deep state who they

00:38:46.420 believed helped steal the 2020 election i i you you i'm so glad you emphasize this in your opening

00:38:54.920 this is revenge this is about settling scores and for most of these republicans ali it will work

00:39:02.700 they don't care necessarily about these other moderate republicans some of them we've talked

00:39:08.360 don't even care if republicans retain control of congress in two years this is about feeding the base 0.99

00:39:15.400 john fredericks your assessment you're the oracle the deplorables we're going to get to the next block

00:39:22.020 the rnc struggle is joe walsh right is this revenge in settling scores or is this trying to sort this mess 0.96

00:39:28.720 out sir look joe walsh is a discredited never trumper moronic sad figure had a radio show salem 0.86

00:39:38.020 fired him was in congress got bounced from there i don't really care what joe walsh says look this is 0.86

00:39:44.040 about change this is about watershed legislation that the house is going to do and getting a message going

00:39:50.820 into 2024 like for instance when they uh when they bagged the 87 000 irs agents they knew that was

00:39:58.280 dead on arrival in the senate and even if it somehow got past the senate biden's going to veto it no two

00:40:03.760 thirds so a lot of what they have to do is just messaging and show the american people and show our

00:40:09.580 base that they stand for something the debt ceiling fight is going to be the real battle here because are

00:40:14.180 they going to use it as leverage or or not basically in a week or two when we get uh don mckeachin's

00:40:21.540 replacement in the house for the democrats jennifer mcleveland will win that special handily they're 1.00

00:40:28.660 going to have 213 votes they only need 218 that means they only need to build the democrats only need

00:40:34.600 to peel away five republicans running around with their hair on fire saying oh if we don't increase the

00:40:39.640 debt ceiling the world is going to end everybody will starve we're going to have to see the rubber

00:40:44.140 going to hit the road if the if mccarthy can hold his republican conference together and not cave 0.97

00:40:51.020 like they always do john john hang on for one second we'll get back to this rnc debate john

00:40:56.740 fredericks in politico has arrived the new social media taking on big tech protecting free speech

00:41:03.560 and canceling cancel culture join the marketplace of ideas the platform for independent thought has

00:41:11.320 arrived superior technology no more selling your personal data no more censorship no more cancel

00:41:18.500 culture enough getter has arrived it's time to say what you want the way you want download now

00:41:26.660 would you be open to having car meet and mike lindell to do it like a debate and to and to defend your

00:41:32.400 record of accomplishment i'm always happy to talk to the 168 i'm always happy to talk to the 168 so

00:41:37.540 i'm talking to them every day and steve this is what would you do would you be open to do it

00:41:41.820 to get it clear would you be open to do it in a more public forum so i'm interested in doing things

00:41:47.460 in front of the 168 that's what i'm interested in doing why have you refused to debate your opponent

00:41:54.520 uh you have refused to take part in the loan debate with kerry lake it could come off as you're scared

00:42:01.320 to step on that stage and we've been taught since we were little kids you got to stand up to a bully

00:42:04.940 you won't you understand how that might come across how do you make a case we want to send you to fight

00:42:09.280 for us but you won't even step on stage to get it clear would you be open to do it in a more public

00:42:14.160 forum so i'm interested in doing things in front of the 168 that's what i'm interested in doing

00:42:19.280 okay welcome back uh politico has a huge story about the coming rnc um vote i think on the 27th

00:42:31.560 of january out in um the waldorf astoria i think the renamed saint regis hotel out in danan point

00:42:39.340 california one of the most expensive places on the west coast um john fredericks you're all over this

00:42:45.660 politico piece in real america's voice what real america's voice in the john fredericks radio

00:42:50.480 network committed you you guys have proposed what and you've been turned down by by whom

00:42:55.940 well look we propose a debate uh that's going to be carried on national tv with uh real america's

00:43:04.260 voice and through the john fredericks media network on all our radio stations and apps and get her live

00:43:08.780 and everything else so that all of these three candidates can explain their positions and what

00:43:13.700 their vision is going into the future to our base to our grassroots to the very people that elected

00:43:21.280 the 168 you know when ronald romney mcdaniel gets on here and keeps talking about the 168

00:43:27.020 it drives me bat crap crazy because hey that's us we hey we're the people that went to the mass

00:43:33.800 meeting on a saturday we're the people that then went to the county meeting two saturdays after and sat

00:43:39.320 there with a cold cup of coffee in a donut hole for six hours then we went to a state convention

00:43:44.820 to elect these people we had to drive the wheels off our car we had to fly there we had to spend

00:43:50.160 money stay in a hotel spend eight hours twiddle your thumbs in the bleachers we've done this now you

00:43:56.600 won't debate you won't talk to us you're only going to talk to the 168 like it's the politburo

00:44:03.840 are you kidding me so look we said we want the messages to go to our people that are funding you

00:44:10.500 oh wait a minute you want 25 a month you want 50 a month you want us to hang you you want us to knock

00:44:17.040 on doors make phone calls get apps just when you need us and then when it comes to electing the

00:44:22.040 chairman you're out so we propose this debate we found 75 minutes of downtime in dana in dana point

00:44:30.000 at the convention there's nothing on the schedule and we went to the three candidates and said hey

00:44:34.720 we'd like to have a debate and the moderator is going to be rich anderson who is the chairman of

00:44:40.360 the republican party of virginia 30 year air force veteran former member uh republican of the house

00:44:47.100 of delegates in virginia he's truly uncommitted not made a decision when i talked to him he said i'd be

00:44:53.780 happy to moderate the debate because i'm i'm truly undecided so it has nothing to do with who i

00:44:59.280 support or mike lindell or anything or who backs lindell he's the moderator lindell accepted immediately

00:45:05.260 he accepted right on my tv show outside the beltway the other day at 7 a.m he say you tell me when i'll

00:45:12.040 be there harmeet accepted rana mcdaniel says no i'm busy so let me get this straight you can't find 75

00:45:21.600 minutes in a four-day meeting to talk to the very people that you depend on for your entire apparatus

00:45:29.980 let them eat cake pound sand go to hell that's your message we're going to go forward with this debate

00:45:36.780 with or without rama we're going to have an empty chair i'm going to find a cutout and put her picture 0.98

00:45:41.720 there because this this is a finger this is a thumb in the eye steve we have a populist movement we are

00:45:48.160 sick and tired of being taken for granted all we're asking rana to do is participate for 75

00:45:55.920 minutes on live national tv and radio and our apps so all of us listening to you now can see the three

00:46:04.380 candidates see what their vision is going forward we understand that the election is from the 168

00:46:10.000 but the 168 represents us they didn't get there without our sweat and hard work and our time

00:46:15.780 on three successive saturdays if you know how this thing works so why not give us an insight a view

00:46:23.160 into what is happening it's a simple request that's turned down flat and they're telling me

00:46:28.860 they don't have an hour and 15 minutes to talk to the very people who they depend on for their own

00:46:34.940 survival but they certainly can take our money and go to the most plush resort in the country all the

00:46:42.360 way on the other side of the u.s in orange county the former saint regis waldorf astoria and guess

00:46:48.400 what if you're not an rsc member you don't get 350 a night you're going to pay rack rate a thousand

00:46:53.980 dollars so you can't even go there right so they have it at a resort optics are terrible we're in a

00:47:00.260 recession and people have to go and cover i've talked to media people their companies can't send them

00:47:05.780 to cover it why because they can't spend a thousand dollars a night this whole thing is absurd rana

00:47:11.900 should be accountable to the very people steve that she depends on in order to keep her job and to keep

00:47:19.680 the republican party afloat um by the way just the the 168 you have 50 gop chairs of every state like

00:47:29.920 like kelly wardown or so you have 50 of those each state has a committee man and a committee woman

00:47:34.380 right that gets you to 150 then you have six i guess territories or others virgin islands guam

00:47:40.300 get you also three which by the way the virgin islands and guam are the same as california i don't

00:47:45.280 know how that works for that and that gets you to 168 the the the the chairman of the gop and the two

00:47:52.340 committee men are kind of elected in this process anyway by precinct men and all that i don't know

00:47:57.560 why she wouldn't want to broaden it out and actually discuss it directly with the grassroots i don't

00:48:02.240 understand the intellectual i don't understand the con the conceptual hang up john do you know i tell

00:48:08.080 you fredericks i know you gotta bounce because it's uh it's uh the godzilla of your sports book

00:48:14.160 but can you hang on i got a 90 second break i just want to hand you hang or hold you over for one second

00:48:18.980 keep you keep you away from the sports no problem thank you okay okay john fredericks is gonna we've

00:48:25.860 also got mike cow at heritage uh the oversight and heritage oversight something you got to find out

00:48:31.580 more about because uh they're on fire right now uh in this oversight fight short commercial break

00:48:37.620 back in a moment

00:48:38.220 it's all started everything's begun and you are over

00:48:44.540 cause we're taking down the ccp spread the word all through hongkong we will fight till they're all gone 1.00

00:48:54.380 we rejoice with a low war let's take down 0.97

00:48:57.660 you 0.99

Bannon's War Room - January 14, 2023

Episode 2443： The Payback For Modern Monetary Theory

Episode Stats

Summary

Transcript