Bannon's War Room - Episode 2578： The Run On Silicon Valley Bank

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

00:00:10.020 these people here's not got a free shot all these networks lying about the people the people have

00:00:16.620 had a belly full of it i know you don't like hearing that i know you try to do everything

00:00:20.380 the world to stop that but you're not going to stop it it's going to happen and where do people

00:00:23.960 like that go to share the big line mega media i wish in my soul i wish that any of these people

00:00:31.780 had a conscience ask yourself what is my task and what is my purpose if that answer is to save my

00:00:39.720 country this country will be saved war room here's your host stephen k bann

00:00:46.940 all right now it's just stick up you just take it easy and nothing's gonna happen to you

00:00:58.080 give me the money give me the money what money mister there ain't no money here

00:01:05.600 what you talking about this year's a bank ain't it what it was a bank but we failed three weeks ago

00:01:14.400 all right now you get on out there and tell my girl

00:01:35.140 come on come on you tell her

00:01:39.720 oh no

00:01:48.720 don't look now but there's something funny going on over there at the bank george

00:02:14.920 i've never really seen one but that's got all the earmarks of being a run

00:02:19.100 now just remember that this thing isn't as black as it appeared

00:02:30.380 i have some news for you folks i was just talking to old man potter and he's guaranteed cash payments

00:02:45.020 to the bank the bank's going to reopen next week but george i got my money here did he guarantee this

00:02:50.160 place well no charlie i didn't even ask him we don't need potter over here i'll take mine now

00:02:54.980 no but you're you're you're you're thinking of this place all wrong as if i had the money back

00:03:01.400 on a safe the money's not here well chris uh svp is certainly the story of the hour on wall street

00:03:08.020 as the bank has been shut down for the day by california regulators this as the large institution

00:03:13.520 in silicon valley with really broad reach across the technology industry has failed to find a buyer

00:03:18.980 as a run on bank really outpaced the sale process that's according to our own cnbc reporting

00:03:23.840 shares of svp financial tumbling 60 percent on thursday after the bank announced a plan to raise more

00:03:30.300 than two billion dollars in capital and today the stock has been halted after dropping another 60 percent

00:03:36.020 shares really never reopened for trading but clearly a lot of talk about how the federal reserve's

00:03:41.720 aggressive rate hikes have impacted financial institutions like svp which clearly was caught off guard

00:03:47.360 and now the question is whether this will have broader implications two weeks ahead of a fed meeting

00:03:52.500 coming up on march 21st chris the silicon valley bank collapse rattling the startup world one venture

00:03:58.260 capitalist calling this a potential extinction level event for startups that could set innovation back

00:04:04.240 by 10 years or more adding big tech will not care about this they have cash elsewhere all little

00:04:10.160 startups tomorrow's googles and facebook's will be extinguished if we don't find a fix joining us now is

00:04:15.460 gary tan ceo of startup fund y combinator gary welcome okay so this is my question how many of

00:04:24.960 these startups that have been through y combinator for example have their cash tied up at silicon

00:04:31.620 valley bank and over this weekend are going to try to figure out how they're going to make payroll

00:04:36.040 next week do they have to go to investors and say can you front me some cash so that we can stay alive

00:04:41.040 west sea has funded uh about 3 000 active startups right now i would guess that this affects more

00:04:47.600 than a thousand startups and about a third of those startups will not be able to make payroll in the

00:04:53.100 next 30 days uh in the current configuration you know as of this morning rippling uh which many

00:04:59.300 startups use to manage payroll and benefits you know transfers were not being processed by svb for

00:05:04.760 payroll and so that's a really existential threat for companies broadly you know these are founders

00:05:11.280 who are texting me and calling me saying do i need to furlough my workers next week because i do not

00:05:16.940 have other bank accounts you know a google or a facebook or even companies farther along with the

00:05:22.120 treasury department they're going to be able to weather this but if svb is your only bank it's actually

00:05:28.880 an existential risk you're going to go out of business if you can't pay payroll and that starts monday

00:05:34.400 uh what it's gone it's all gone what's all gone the money in your account it didn't do too well it's god

00:05:43.420 okay friday 10 march year of our lord 2023 it is black friday because the 16th largest bank in the

00:05:53.680 country the uh centerpiece the the financial center of silicon valley is no more it's been seized by first

00:06:01.800 california regulators the fdic is in there peter nabar joins me this is the second biggest bank

00:06:07.980 failure in the history of the country the only bigger bank failure was in the financial collapse

00:06:12.880 of 2008 uh this is a bank a peter and i want to talk about biden's policies of what what the the

00:06:19.160 jacked up interest rates the crushing of government securities you've been talking about we've been

00:06:24.740 warning people about the bond market here and today it came into high relief as uh the venture

00:06:31.720 capitalists there said this is an extinction level event for startup companies in silicon valley that

00:06:37.120 can't make payroll and to tell you the scale of this that 97 of the deposits at silicon valley bank

00:06:44.880 97 are not insured by fdic because they're in accounts over 250 000 these company accounts that the that

00:06:53.200 would be 169 billion dollars let me repeat that 169 billion dollars of unassured accounts

00:07:02.040 and as sure as the turning of the earth peter navarro they're going to be back in washington dc

00:07:09.160 looking for uh look at looking for looking for the mega republicans in the house to bail them out and by

00:07:16.860 the way i don't remember seeing any bailout they're not you run around yet yammering for help for the folks

00:07:21.580 in east palestine ohio dr navarro what happened today how serious is this and why was this a direct

00:07:28.860 result of the federal reserve in the biden regime sir

00:07:32.620 steve um let's start with the fact that uh the banks themselves now have 600 billion dollars

00:07:46.920 of unrealized losses on their books because of what joe biden has done okay over six that's that's well

00:07:57.160 over half a trillion dollars okay now you heard in the cold open steve what the plate is going to be

00:08:04.080 to get the deplorables to once again bail out uh the silicon valley billionaires and that's going to be

00:08:11.080 oh if we don't save the startups for 10 years worth of innovation right that's going to be

00:08:17.500 that's going to be the spin you're going to see that over and over again cnbc is going to lead that 0.95

00:08:22.200 uh joe joe scarborough be the youthful idiot for all of that now how did this start this all starts 0.95

00:08:29.180 with the stagflation crisis it's not just inflation but it's stagflation as well and the inflation crisis 0.99

00:08:36.000 is a product of joe biden okay let's be clear about that this is as donald trump would say

00:08:41.380 a politician inspired crisis right what did joe biden do to create the current inflation the first

00:08:47.720 thing he did when he got in into office was to kill the oil and gas sector which basically are

00:08:54.000 strategic energy dominance kept energy prices low when you keep energy prices low you keep fertilizer

00:09:00.480 prices low and you keep food prices low so that alone began uh the the problem the second joe biden

00:09:07.780 mistake was appointing pete buddha judge um as the department of transportation secretary well well

00:09:14.740 our supply chains around the country and globally were falling apart uh pete buddha judge was was taking

00:09:22.940 parental leave okay i don't remember anybody in the in the trump administration taking parental leave i'm

00:09:29.300 sorry when you when you sign on for a mission in the white house and in an administration as a 0.96

00:09:35.240 political appointee you get your ass to work seven days a week okay okay so that's that's the second 0.97

00:09:41.580 thing and of course the third thing is the massive uh inefficient overspending that the biden regime with 0.98

00:09:50.360 the help of of uh so-called populists like liz warren yeah is running the inflation look he just put a 0.98

00:09:58.600 six point eight trillion dollar uh budget up in your face but i want to go back to i want to go back

00:10:03.540 to these unrealized losses let me just finish the thought here steve yeah the thought here is that

00:10:08.800 all of these banks which have a bunch of cash use that cash to buy treasury bonds government securities at

00:10:17.460 a time before bond prices started to plunge because interest rates are going up so they get invest in

00:10:24.960 all this cash as as their assets on the books biden caused the inflation crisis bond prices plummet

00:10:33.080 and they're stuck with these unreal okay realized losses and as soon as somebody like peter deal

00:10:38.340 kind of looks at the books he says i'm getting the hell out of that bank right he's like the first guy

00:10:43.220 to get out well that's what we have now when teal said when when when teal said that is the most

00:10:48.500 extraordinary comment i've ever heard i've never heard a major investor saying uh get your cash out get your

00:10:53.580 deposits out not not sell the stock real quickly the silicon valley backhand 17 billion dollars of

00:11:01.780 unrealized losses on their government portfolio peter navarre just reported there are 600 billion

00:11:08.860 dollars of unrealized losses on banks balance sheets throughout the country and this first republic is

00:11:15.120 the next one it's uh you know steve that will go stocks down yep and you called it by the way okay

00:11:23.320 you called it today nobody at cnbc called this steve bannon said that by the end of the day

00:11:29.560 silicon valley bank would be out of business and you called that okay and the other thing that i want to

00:11:36.220 point out because you and i are like we're globalists only because we watch what happened

00:11:42.500 on the borders on the uh on the open uh of our stock market banks fell by four percent in europe

00:11:50.960 and that's on top of what is a collapsing bank it's all there and so this is going to be a as as

00:11:58.420 as cortez and bannon and yours truly been saying this is a global contagion it all starts with joe

00:12:06.000 biden's bad policies yeah but here's what by the way i want to try to get you back on at six i don't

00:12:11.540 want you to go to cocktail hour yet and i'll get you here's why yes this weekend if they can't find a

00:12:16.680 buyer and they're not going to be able to find a buyer because they don't know what's in this and

00:12:19.420 it's got a hundred let me repeat this it has 169 billion dollars of uninsured fdic deposits

00:12:28.020 169 billion they're going to be coming to washington dc over the weekend and saying we

00:12:34.820 can't make you just heard the pitch right there this is an extension level event for innovation

00:12:39.440 in this country if you don't help us make payroll these companies are going to go out of business

00:12:44.000 it's going to destroy innovation for 10 years these are your betters don't hey the crocodile

00:12:51.080 do you say you know what did they run they run to east palestine ohio and asked to bail them out

00:12:56.940 go ahead yeah because you know what i mean look the jobs report came out and i know you don't want

00:13:02.540 to talk about it but i could tell you that the people who got screwed by the higher interest rates

00:13:08.240 wasn't just the silicon valley folks now it was the deplorables who were seeing their wages get

00:13:13.500 driven i want a toilet hold it we're gonna we're gonna get you we're gonna get you on at six i know

00:13:18.380 you don't like working in the late hours we're gonna have well navarro how do people get to you

00:13:22.380 how they get to the podcast how they get to the podcast peter navarro.substack.com peter navarro.substack.com

00:13:32.620 and uh today's one is hot as a firecracker steve because there's there's a couple of pieces of

00:13:37.800 breaking news in there okay perfect uh peter fantastic job uh what's your getter you don't do twitter

00:13:44.660 what's your getter account no yeah yeah getter is uh real p navarro real p navarro getter is the

00:13:51.480 twitter killer and uh it's all up there as well but the the hub through which everything runs is

00:13:56.960 the substack now peter navarro.substack.com follow navarro there's gonna be breaking news of the

00:14:04.000 weekend we're gonna be up on getter all weekend short commercial break peter thank you very much

00:14:07.920 we'll try to check you down the six o'clock hour because there's still more breaking news on this

00:14:11.500 debacle remember this is like 2008 you just had a big bank fail 16th biggest bank in the country

00:14:17.420 200 billion dollars of assets 170 169 billion dollars of uninsured deposits silicon valley bank

00:14:25.840 in the center of silicon valley we're gonna take a short commercial break we have matt gates congressman

00:14:31.240 matt gates will be in the house is going to join us next in the war room

00:14:34.440 bring it on and now we'll fight to the end just watch and see it's all started everything's begun

00:14:42.780 and you are over because we're taking down the ccp spread the word all through hong kong 1.00

00:14:51.660 we will fight till they're all gone we rejoice when there's no more let's take down the ccp 1.00

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00:16:15.520 okay welcome back we have senator congressman matt gates i'm jumping ahead there congressman matt gates

00:16:28.800 first off you know high tech as well as anybody silicon valley bank the premier bank 16th biggest

00:16:35.080 in the country second biggest bank failure came out of nowhere recall this morning said by the end of

00:16:39.740 the day this thing will be taken over the california regulators jumped in front of the fed this is a

00:16:45.120 hundred percent because of biden's policies the unrealized losses in the uh government securities

00:16:49.640 portfolio blew the you know it was a torpedo below the word line they're coming to you brother next

00:16:54.620 week they're coming to dc they've already laid it out it's a thousand startups they're the best in

00:16:58.440 the country you got all these payrolls you got 169 billion dollars they're going to come and ask for

00:17:03.160 a bailout from the house well if there is an effort to use taxpayer money to bail out silicon valley bank

00:17:12.020 the american people could count on the fact that i will be there leading the fight against such a

00:17:16.980 bailout i mean what we have observed is remarkable the financial arm of silicon valley has just been

00:17:24.960 severed before our very eyes and i also think that the biden policies around covid had something to do

00:17:31.540 with this because it created an investment bubble in silicon valley in tech that once we got past

00:17:38.600 those policies once the american people rose up and said we will not be locked in our homes we will

00:17:43.700 not have our local retail and our local industry shut down and live our life in our pods getting mail

00:17:52.760 products delivered to us and you know play on our apps all day once that was deconstructed

00:17:58.580 you saw uh that bubble began to burst you start you saw it with the layoffs you saw it with a lot of

00:18:05.000 these companies have been freezing promotions have been have been stopping the hiring process and it's

00:18:11.240 a cash uh diminution you're the most sophisticated guy in the house on the right about social media

00:18:17.840 and big tech and all that for you know given your family relationships and others you're you're going

00:18:23.600 to sit there you would be the one guy to be able to make the argument why we should contain the contagion

00:18:28.960 and bail this out yeah throughout my whole life i have seen the moral hazard that comes with using the people's

00:18:36.040 money to bail out the elites when they make bad decisions we saw it uh and really manifest with a lot of

00:18:42.800 energy and frustration with the occupy wall street movement we saw it with the financial crisis that was

00:18:49.180 hitting as my generation was graduating college and graduating professional school and the large institutions

00:18:55.960 were collapsing the large institutions that were the vaulted icons of american life the true soft power

00:19:03.520 of america was you know golden goldman sachs and uh you know bears and layman and when that

00:19:12.060 went away capital you buddy you saw the political industrial complex line up to that pretty quickly

00:19:19.620 this is going to have an impact in national security they're talking about national security what do they

00:19:23.380 mean well i i predict that at the tip of the spear of the biden administration's requests for a

00:19:31.260 bailout for silicon valley bank will be the department of defense you'll have the department of defense

00:19:36.200 saying gosh you know we've got all these silicon valley relationships we've got all these contracts

00:19:40.940 with companies that now are going to go insolvent that won't be able to be part of the research

00:19:45.800 development test and evaluation mission and it will expose a lot will fall behind china will fall behind

00:19:52.660 china or will become more reliant on china will become more reliant on other places in the world

00:19:57.680 if you really believe in american resilience they'll tell us we have to come in and and bail out

00:20:03.220 silicon valley banks the pressure to bail this out is going to be intense you do understand that

00:20:07.380 oh and and it will it will emanate from california of all places rocahanna rocahanna you believe in

00:20:13.300 economic patriotism maybe not a bailout i want to have you on the heroic thing of what you do in syria

00:20:18.040 but from abu dhabi i think it was today hillary clinton and and joe scarborough can we go ahead

00:20:23.180 and play that uh and i want to have uh i want to have let's go ahead and play it and we'll have

00:20:27.980 congressman gates respond madam secretary you know better i think than anybody alive about

00:20:34.420 partisanship in the united states and what it's cost our country the ukrainian war has been one thing

00:20:42.260 that it's brought democrats and republicans together for the most part are you hopeful that

00:20:48.380 that will continue despite the fact some house republicans um are being critical of the biden

00:20:54.760 administration and even republicans that are supporting the war effort well i am hopeful that

00:21:00.120 it continues joe because i think as we just heard uh this is a war of aggression and invasion

00:21:07.420 uh the behavior of the invaders has been barbaric and it really is a war for uh not just the freedom

00:21:18.000 of the ukrainian people although that is first and foremost it is a war for our values uh for what we 1.00

00:21:26.280 believe uh should be the birthright of every person in ukraine in europe in the united states around the

00:21:33.900 world so i want to underscore that as we support the courage and because i want to get too much time

00:21:41.340 with you mac max boot has in today's foreign affairs apologized for being a neocon saying about

00:21:47.220 trying to export report it why is she the why is she the essence of what you're actually fighting

00:21:53.980 against well as hillary clinton does everything possible to water down and erode our birthright 1.00

00:22:00.380 by championing open border policies by saying that everyone who comes to america is a legitimate

00:22:06.020 asylum seeker she really juxtaposes a great contrast to the commitment that she thinks all 1.00

00:22:12.460 of us ought to make to the birthright in ukraine and part look i hope ukraine prevails but pardon me

00:22:19.180 for saying that america's value set is not lashed to the value set in ukraine our values are not on

00:22:26.800 the line for which guy in a track suit runs crimea our values are not on the line on who holds the

00:22:34.080 dump ass region right i mean and american values are more enduring of that and the signal there not

00:22:39.720 the noise is she actually doesn't think that much of our values in the first place and joe scarborough

00:22:44.600 has no values i know that because he's one of my predecessors in congress and i remember the joe

00:22:50.080 scarborough from florida's first congressional district who was actually voting to impeach bill

00:22:54.000 clinton who actually said that bill clinton was a national security threat who was uh you know

00:22:58.780 one of the styled himself as one of the ferocious republicans fighting against the clinton administration

00:23:04.340 but you know new york changes the man i guess uh with with hillary now as a masthead for the pro-war 0.96

00:23:11.920 democrats we see fewer and fewer of the democrat doves i don't know what's more extinct in this town

00:23:19.340 the anti-war democrat dove or the republican fiscal hawk and i put everybody on the boards

00:23:26.960 as to whether or not we should stay in syria this last week and by the way that's just my lead-off

00:23:31.660 hitter steve one of the things i negotiated for in this deal with kevin mccarthy is that he would

00:23:37.720 not play the games nancy pelosi played to block privileged resolutions and matters of war and peace

00:23:44.420 under the war powers act go right to the floor in congress they don't get to get get rat holed away

00:23:49.480 in committee land and so i used a tool that would not have been available under the rule of speaker

00:23:55.160 pelosi and to kevin mccarthy's great credit he's allowing these things to come to the floor and we

00:24:00.280 had a vote on syria and you know what more democrats voted for the pro-war position than the anti-war

00:24:06.020 position in syria syria where no one can tell me what the enduring defeat of isis means like how many

00:24:14.380 americans how many of my constituents who by the way are in syria right now have to go to bed in

00:24:20.540 some in some desert in a faraway land so that we can what extinguish the last sympathy from the last

00:24:29.160 beating heart of the last person living in some river river valley it is not an attainable goal

00:24:34.460 and is so offensive when these neocons wave around the 2001 authorization to use military force against

00:24:42.120 the people who caused 9 11 as a basis to be in syria in 2023 there are people fighting in syria

00:24:49.000 right now who were not even born when that authorization was passed about only one in every

00:24:53.700 10 members of the house of representatives was even here to vote on that so to wave that around like

00:24:58.960 some global permission slip is nuts and the other one they use is the israel thing oh we can't abandon

00:25:04.840 israel guess what ladies and gentlemen israel cut their deal with russia to keep iran out of

00:25:09.940 southern syria like if you if the israel russia deal makes you uncomfortable you think israel was

00:25:15.360 going to rely on us in the middle east we are not a middle eastern power we are a pacific power we are

00:25:22.100 an atlantic power as you so aptly said in one of the greatest speeches i've ever seen at cpac and so

00:25:27.060 us toiling away in the deserts if it's going to happen it's not going to happen without members of

00:25:32.020 congress having to take an actual vote every time you were also defending the constitution about it's the

00:25:37.340 houses about declaring war this ridiculous we only got a couple minutes and we're going to go to palm

00:25:42.320 beach with natalie but i got to ask you this was your lead off hitter the big kahuna the where you're

00:25:48.460 going to is ukraine you're going to force us in ukraine walk us through because i got to tell you

00:25:52.080 you were magnificent in making the case why this is ridiculous and quite frankly the arguments against

00:25:58.000 it particularly from the republicans were embarrassing what about ukraine well i do not believe

00:26:03.580 we should have troops in ukraine now i have to be able to prove that we have dod personnel in ukraine

00:26:08.820 right now when the generals come and testify before our committees they say we do not i do not believe

00:26:14.500 them i know the logistics kits that have to go with these m1 abrams i know the force protection that

00:26:20.640 has to exist for the contractors for the the vendors for the entire supply chain that goes along with

00:26:26.680 these hymar systems and the preparation for the f-16s which is coming by the way and so once i've

00:26:33.720 got that definitive evidence we'll be taking more ukraine votes uh it's sad how many republicans are

00:26:40.140 willing to debase themselves in like this embrace of ukraine that just far exceeds what an american 0.99

00:26:48.040 leader should be thinking about each and every day we got our own problems here in this country and

00:26:52.780 the fact that we it well you know why it is i'm sorry to take so much time on this it's people get

00:26:57.380 elected to congress and they all of a sudden fashion themselves as global leaders as citizens

00:27:01.220 of the world and they forget like there are people back in paducah kentucky who voted for you

00:27:05.480 there are patent people back in mississippi and arkansas who voted for you and you need to put those

00:27:09.820 people first we got to go but real quickly the pressure next week on the silicon valley because

00:27:14.240 this is the neoliberal neocon order collapsing before us the pressure on you guys next week to bail this

00:27:19.020 thing out i believe there will be bailout requests and i think it will be cloaked in national security

00:27:25.020 and economic security and it will be mired in i think a lot of the political patronage and swapping

00:27:31.760 of campaign donations for favors that that deeply sickens me uh your podcast or your content how do they

00:27:37.600 get to firebrand is my podcast but steve bannon and i are going to be on the tim cast tonight so

00:27:43.540 tim pool steve bannon matt gates congressman dan bishop's going to stop by it's going to be a great

00:27:48.920 time amazing it's going to be unbelievable thank you for stopping by thank you gates in the house

00:27:52.820 i got to tell you next week is going to be intense on capitol hill okay we're going to toss over to

00:27:58.780 natalie in palm beach i will be back at six o'clock more in silicon valley banked in natalie windows

00:28:04.740 will take it for the rest of this half hour and then back here at six

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00:29:33.060 dollars begin your search at public square today go to public sq.com that's public sq.com we have not

00:29:43.820 funded gain-of-function research on this virus in the wuhan institute of virology no matter how

00:29:50.860 you're parsing words you're parsing words you say it there was research dr fauci knowing that it is a

00:29:56.880 crime to lie to congress do you wish to retract your statement of may 11th where you claimed that

00:30:02.140 the nih never funded gain-of-function research in wuhan

00:30:05.580 microphone microphone senator paul i have never lied before the congress and i do not retract

00:30:18.720 that statement this paper that you were referring to was judged by qualified staff up and down the

00:30:27.240 chain as not being gain-of-function what was let me finish take an animal virus and you increase

00:30:35.280 its transmissibility to humans right you're saying that's not gain-of-function yeah that is correct

00:30:39.480 and and senator paul you do not know what you are talking about quite frankly and i want to say that

00:30:45.320 officially you do not know what you are talking about okay you get one person let's read from the

00:30:52.280 nihia can i answer the question this is your definition dr fauci was affirmatively told and told

00:30:58.300 in an email that uh niaid had a monetary relationship with the wuhan uh institute through uh eco health

00:31:06.480 alliance he he was told this in january 27th of 2020 do you think that dr fauci intentionally lied

00:31:12.720 under oath to senator paul when he vehemently denied nih's funding of gain-of-function research

00:31:17.680 i think there's no doubt that nih was funding gain-of-function research is it likely that

00:31:22.060 american tax dollars funded the gain-of-function research that created this virus i think it did

00:31:27.120 not only from nih but from the state department usa id and from dod i'm out of time thank you very much

00:31:32.840 welcome back to the war room i guess the reception to steve getting a haircut was so overwhelmingly

00:31:39.360 positive that he had to go and do it again so i'm here in the meantime natalie winters the co-host and

00:31:44.860 executive editor of war room filling in i'm sorry to trigger you guys play some videos of anthony

00:31:50.480 fauci you may recall that pretty notorious and infamous exchange with senator rand paul which i

00:31:56.540 would argue makes the case that he perjured himself especially in light of the testimony that

00:32:01.540 we saw from dr redfield that was the end of that little opening clip uh that we just had we'll

00:32:06.680 have dr malone joining us shortly but just to sort of pick up where you know rep gates and steve left

00:32:12.420 off right the idea of turning ukraine syria all these countries and faraway lands into you know

00:32:18.320 essentially new forever wars i think that's exactly what we see going on here with pandemics and the

00:32:24.140 idea of public health emergencies right and i think the particularly scary part that you see in this

00:32:29.720 hearing is how gain-of-function research sort of has become the weapon the tool and i'm sure you could

00:32:35.640 argue the vaccines and the mask mandates and the school closures too um but really have sort of

00:32:41.520 served as the armaments the ammo to wage this new forever war under the i would say guys under the

00:32:47.980 pretext of pandemic prevention now dr malone i think we have him on with us uh you had a wonderful

00:32:54.980 substack reacting uh to this what again i know we keep using the word bombshell but i do think that

00:33:00.860 that's an accurate description um of the testimony that we saw from former cdc head robert redfield

00:33:06.780 talking about the nih was not just intimately involved uh with gain-of-function research at the

00:33:12.780 wuhan institute of virology but even more insidious the cover-up so i just want to get your quick reaction

00:33:19.020 because i know we love to say on this show you know we're the top spreaders of misinformation that

00:33:23.520 it's great to feel vindicated um but even i have to say that some of the statements that dr redfield

00:33:28.600 said yesterday or rather two days ago it wasn't even vindication i think we almost under uh

00:33:34.440 understated that i think levels of evilness that went on at the nih under tony fauci under francis

00:33:40.880 collins to cover up the origins of covet and nih's involvement so just your thoughts uh reacting to

00:33:46.920 those clips and more broadly the testimony that we saw two days ago well i haven't been under any

00:33:53.700 illusions about uh what goes on at niad and nih in general and the uh true evil of francis collins

00:34:02.880 and tony fauci i've lived with that basically my whole career uh and i've been under no illusions

00:34:09.420 what's fascinating about all of this is that what bob redfield represents he talks about in his written

00:34:16.160 testimony that he's the co-founder of the institute for human virology what he doesn't mention is the

00:34:21.080 other co-founder is bob gallo there is an ancient ancient view that goes back to the beginning of

00:34:27.680 my career between bob gallo and tony fauci and uh where we're at right now is that the truth is coming

00:34:35.700 out about tony fauci and some of his colleagues are you know former colleagues are now willing to speak

00:34:42.540 the truth uh whereas in the past they've always been reluctant to do so because tony has a notorious

00:34:49.340 reach and capability to uh both reward and punish uh those that he wishes to and that's what's gone

00:34:57.600 on here that's that's covered in some of the other testimony what i also found fascinating about bob

00:35:03.320 redfeld's uh statement here is that he also fingered state department usa id as well as dod now i had

00:35:12.340 revealed back i think two falls ago that uh dod defense threat reduction agency had participated in

00:35:21.040 the funding and i found that out from colleagues within uh ditra it was the threat mitigation branch

00:35:27.660 the same people responsible for the uh corralling of the loose nukes as the soviet union fell uh but i had

00:35:35.840 no idea that usa id and state were involved this is basically directly fingering the cia usa id is

00:35:43.260 largely a uh functional arm just like darpa is of our intelligence community and so what bob is saying

00:35:52.600 and bob would know uh his clearance i'm sure is quite a bit higher than mine uh he's he's basically

00:35:58.780 saying that the intelligence community has been directly funding wuhan institute of virology which

00:36:04.820 uh is consistent with really the emerging working model of what went on here is that the way this

00:36:11.960 story goes is that the cia lost most of its assets in the people's republic under the ccp they got outed 0.98

00:36:19.780 and they were all assassinated the ccp doesn't uh monkey around and put people in prison for uh treason 0.97

00:36:25.780 uh and um so they all got assassinated the cia needed to have and felt that it needed to have 0.93

00:36:33.020 insight into what china was doing in the world of biowarfare and biodefense and all of that kind

00:36:39.700 of research they appear to have engaged in a quid pro quo in which they provided not only funding but

00:36:46.680 technology ecohealth alliance transferred technology directly to the wuhan institute of virology

00:36:52.260 it was enabling for the studies that were done and they also provided the capital in exchange for

00:36:58.260 their ability to have a limited look about concerning what china was doing at the wiv uh chinese national

00:37:05.040 academy of sciences facility so that's the back story here is we've got some uh kind of long-standing

00:37:12.480 bureaucratic feud that goes back to the earliest days of an nci versus naiad and the arm wrestling over

00:37:20.400 who was going to be in charge of the aids budget and uh that's still playing out of course there's a lot

00:37:26.220 hard feelings and we have now this you know somebody bob bob is dropping the other shoe

00:37:32.460 about the involvement of our intelligence community in the wuhan institute of virology which many of us

00:37:37.720 have long suspected well i think we were speaking at cpac and during the break um in one of the war

00:37:45.380 room shows how you you called this you said they're gonna try to give a fall guy right a sacrificial lamb

00:37:51.780 so kudos kudos to you a hat tip but i think you bring up the more interesting angle in all of this

00:37:59.680 which is you know as someone who came at this story more from the chinese communist party for an

00:38:06.280 influence operation realm you come at it of course from the scientific knowledge is the adventure of

00:38:11.420 the mrna vaccines um but i saw this just as a textbook case of chinese communist party compromise a lot of

00:38:17.880 the western scientists who had sort of prematurely debunked the lab leak they just had conflicting

00:38:23.040 interests with the chinese communist party because it's hard to wrap your head around the idea that

00:38:28.340 the united states government would willfully give taxpayer dollars to fund gain-of-function research which

00:38:33.940 as steve always hammers is essentially the weaponization of viruses so i think maybe my my question and i ask

00:38:40.460 this earnestly is the theory of the case that the nih the niaid again in addition to these other

00:38:47.520 entities of course usaid dod even google was funding ecohealth alliance do you think that it was

00:38:54.480 incompetence they just don't understand the chinese communist party the threat that they pose they think 0.68

00:38:59.980 that this is you know biodefense programs this is just how you do it or do you think there's malice on

00:39:06.060 the part of some of these institutions or are they so far gone in terms of chinese communist party

00:39:10.540 infiltration and compromise that they're not really even american entities to begin with like

00:39:15.420 how did we get to this point yeah uh so what is the true theory of the case and can i select all of

00:39:24.080 the above please ma'am uh of course we we we have a we have a hot mess uh to use farm language uh and

00:39:34.160 and uh it is it is steaming and full of maggots the uh um my theory of the case is is we have a strong

00:39:43.600 component of what hannah arent uh notoriously labeled as the banality of evil this tendency of bureaucrats and 1.00

00:39:53.360 government officials to want to advance their career and they're siloed and they just narrowly

00:40:00.240 go about uh doing what they're told to do trying to uh rise up the ranks and do what they're told

00:40:09.120 and get you know more funding this comes from the uh hannah's uh book eichmann in jerusalem

00:40:16.660 and and the eichmann trials i think it's the intersection of the the failure to think

00:40:22.520 which is what hannah arent uh attributed the banality of evil to and absolutely there's

00:40:29.000 been nefarious intent and then the problem of complex systems and i wrote another substack

00:40:35.720 talking about this unfortunately i i diagrammed it as a venn diagram and no one could get beyond

00:40:41.220 kamala harris's affinity for venn diagrams but but i really do think what we have is a complex

00:40:46.940 phenomena that's involved in the interactions of a bunch of things and in the domain of nefarious

00:40:54.120 scheming uh we always have the intelligence agencies and their long long history of failure

00:41:02.200 to think through unintended consequences they even have a term for it of course it's called blowback

00:41:07.980 well i think that it's fair to call dr redfield sort of a whistleblower in this setting right what he's

00:41:15.000 saying basically makes anthony fauci guilty of perjury if you take him at his word right saying

00:41:20.860 that the united states i don't think there's any doubt about tony's perjury and i also spoke quite

00:41:26.860 clearly about that at cpac on war room and and there was a big steve grabbed it grabbed that uh baton

00:41:33.920 and ran with it as you'll recall but uh tony tony lies in the way that most trained intelligence

00:41:41.420 officers lie and you have to we have about two minutes left i just i just wanted to ask you real

00:41:47.300 quick because i i followed the cast of characters and this whole debacle that is the origins of

00:41:53.020 covid 19 why do you think it was it was dr redfield because he again was the former director of the cdc right

00:41:59.380 the cdc is no small player in this very you know pit of vipers right that is the biomedical the

00:42:06.040 biopharmaceutical industrial complex whatever you want to call it so you know why him why now we have a

00:42:11.280 about a minute and 30 uh until until break but i am going to hold you over but just curious sort of

00:42:15.860 the inside baseball why do you think as i as i told you there is a long-standing feud with uh red

00:42:22.740 fields uh basically uh you can think of him as his commanding officer bob gallo and tony fauci rumor

00:42:29.400 has it that uh you'll recall if you went back in time you'd see that there was a point in time

00:42:34.620 where redfield kind of broke ranks uh as a member of that committee and as the director of cdc up to

00:42:41.140 that point he'd been kind of going along with the narrative and then he broke ranks the rumor was

00:42:45.720 that bob gallo told him that he better come clean or it was going to destroy his entire legacy that's 0.66

00:42:52.560 the way i heard the story and uh redfield responds to bob uh very directly uh dr gallo is uh one of

00:43:02.920 you know he is absolutely in the same caliber and cast as tony fauci uh this is a den of thieves

00:43:09.940 that you point out are a bit of snakes and uh all these guys have been uh fighting each other

00:43:15.540 bureaucratically for money and power for my entire career that's 30 years plus all right we're running

00:43:22.460 up against a break make sure you stick around dr malone and of course the audience and trigger

00:43:26.780 warning we are going to open next block with some more anthony fauci interviews some more lies of

00:43:31.600 course because that's the only thing he seems to be able to do make sure you stick around steve will

00:43:35.940 be joining us in about 15 minutes you won't have to put up with me much longer got a 90 second

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00:45:07.280 the new social media taking on big tech protecting free speech

00:45:11.960 and canceling cancel culture join the marketplace of ideas the platform for independent thought has

00:45:19.720 arrived superior technology no more selling your personal data no more censorship no more cancel

00:45:26.920 culture enough getter has arrived it's time to say what you want the way you want download now

00:45:35.040 let me ask you about what dr robert redfield is charging that you frozen out that you didn't want

00:45:42.000 him there you didn't want him at these meetings and that was deliberate

00:45:45.640 you know neil i really feel badly about that because i know bob a long time he is totally and

00:45:53.800 unequivocally incorrect in what he's saying that i excluded him i had nothing to do with who would be on

00:46:02.080 that call that call was organized by a group of evolutionary virologist in order to discuss the

00:46:08.760 possibility that this might actually be a virus that was actually engineered so i didn't put anybody

00:46:16.280 on the list of that call nor did i take anybody else so it's really unfortunate that in a public

00:46:22.920 setting like the hearing that dr redfield made that absolutely incorrect statement the other thing

00:46:29.020 he said that's interesting who would be on that call did you decide to be on that call or did these

00:46:34.220 other virologists neil i just said it i didn't have anything to do about the decision who would be on

00:46:41.960 the call the evolutionary virologist dr eddie holmes christian anderson all of the others that want

00:46:50.460 they made the decision who's on the call i didn't add anybody to the call so you didn't know going

00:46:55.860 into the call you didn't know going into the call that the cdc director would not be part of that

00:47:01.300 call do you think he should have been uh well i mean retrospectively it would have been okay to

00:47:07.740 have him on the call of course but i didn't put him or take him off and it's really disturbing that

00:47:13.080 in a public hearing of a congressional hearing he makes an accusatory statement that has no basis

00:47:19.980 whatsoever in reality but another point neil that's important he said in his own mind that he

00:47:26.320 was kept out because he was of the opinion that this might be a lab leak half the people on the call

00:47:33.120 were of the opinion that it might be a lab leak so his rationale of why he thought he was excluded

00:47:40.080 is an invalid rationale so it's really unfortunate that he made those statements he's a good guy i've

00:47:46.080 known him for years i'm so i mean i'm just really a little bit disturbed about why he said that which

00:47:51.300 it was completely untrue any regrets you have dr fati overall this do you ever second guess yourself

00:47:59.460 you know you know i mean of course when you say that i mean nobody has done anything perfectly in this

00:48:07.800 very complicated saga that we've been through over the past more than three years of course we could

00:48:15.400 have done things better and in those areas that we could have done things better of course you

00:48:20.400 regret that you didn't do things better so i'm not perfect certainly i'm not and therefore i could

00:48:26.300 have done things better no doubt about that as should everybody feel that way welcome back i love the

00:48:33.380 question any regrets and anthony voucher's response is just wonderful now dr malone i know your wonderful

00:48:38.680 book is called lies my government told me but if you're looking for a sequel opportunity

00:48:43.420 i think you may already have the content that you need to write a couple sequels

00:48:48.880 criticism of the book the criticism of the book is it's not long enough

00:48:53.380 i think i think that's a very valid point now unfortunately that was a long intro so we only

00:48:58.340 have a few minutes left but i just want your your reaction to what to what fauci is saying how he

00:49:03.600 continues to lie the media continues to let him get away with it what what do you have to say

00:49:08.980 yeah in all seriousness uh as i mentioned tony lies like a trained cia officer he deflects and um uses

00:49:19.120 these various ruses that you just saw deployed right there of course tony didn't set up who was on the

00:49:25.040 call he has one of his lackeys do this he always uses surrogates for everything he's too high up he has

00:49:31.400 many many people in his press office that handle all this stuff for him remember that tony and jeremy

00:49:38.040 farrar both got burner phones to have these conversations they knew what they were doing

00:49:43.180 was wrong they knew that they needed to speak off the record they knew they had a problem

00:49:48.200 they knew they were going to try to cover it up the evidence is unequivocal and tony's uh deflections

00:49:55.720 here stand in stark contrast to the editorial today published by our colleague and good friend

00:50:03.260 naomi wolf in which she clearly comes out and apologizes for a series of misconceptions that 0.80

00:50:10.800 she's developed based on press manipulation concerning mr trump and many of the issues that

00:50:17.440 have occurred over the last three years including of course the january 6 commission we're never going

00:50:23.120 to see tony fauci showing the courage that naomi wolf showed today

00:50:29.260 well and i think it's so interesting too you bring up how these niad nih personalities

00:50:36.560 you know they all sort of run cover right it's anthony or was rather anthony fauci's personal

00:50:41.340 fiefdom right the idea that he didn't have any control over what was going on on the call it's

00:50:45.960 sort of like the excuse the rationale that he gives for eco health alliance right he's like well

00:50:50.620 i didn't fund the wuhan institute of virology i gave the money to eco health alliance um i think it

00:50:55.360 is yeah so ron johnson predicted exactly this he said that it's going to be extremely difficult to

00:51:02.660 hold any of these people to account because they are seasoned dc administrative state bureaucrats

00:51:09.040 and they know how to cover their backside one of the things that we've come to learn is that in

00:51:14.740 many of these key meetings they were held under chatham house rules people were told not to take notes

00:51:20.640 not to take any recordings don't bring their cell phones so there would be no traceability they knew

00:51:26.140 what they were doing was wrong okay they knew they were covering up bad stuff and they knew that they

00:51:32.340 were complicit in this most massive uh um travesties in the history of public health there there's no

00:51:40.680 question that that's the case and then we had for instance chris ray coming out with his story where

00:51:46.440 all he would talk about i'm talking about director of cia remember it was all ccp ccp ccp look over 0.98

00:51:52.940 here um don't look over the fact that in fact it was the united states government that funded this

00:51:58.520 and oh by the way the department of defense has directly denied to a congressional investigator

00:52:05.360 that they provided any of this funding in in stark contrast to what bob redfield has said and bob

00:52:12.780 would know he's got roots that are way deeper than mine in all these areas including dod he comes

00:52:19.440 out of dod he knows exactly what's going on and i think there was freedom of information act requests

00:52:25.120 that showed they were shredding the notes that they had written during these meetings about the

00:52:29.940 origins of of covid well we got about 30 seconds left so please let people know where they can follow

00:52:34.500 you your work your substack your books where they can keep in touch oh you're very kind uh rw malone

00:52:41.640 md.substack.com you don't have to pay it's for free um if you want to support it it's what supports us

00:52:48.760 in our work but you don't need to uh the book is available on at all booksellers uh including amazon

00:52:55.840 and uh you may enjoy visiting the malone institute thank you dr we are up against a break unfortunately

00:53:04.740 but thank you for coming war room posse you already know free speech is under constant attack by the

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Bannon's War Room - March 11, 2023

Episode 2578： The Run On Silicon Valley Bank

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