Episode 2583： They Plan To Leave All The Debt On The Shoulders Of The Deplorable
Episode Stats
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Summary
In this special bonus episode of the War Room, host STEPHEN K. VENGOZA talks with CEO of Wrapbook, Ali Javid, about the impact of Silicon Valley Bank's failure and what the government should do in the wake of it.
Transcript
00:00:11.000
You're just not going to free shot all these networks lying about the people.
00:00:19.000
I know you try to do everything in the world to stop that,
00:00:23.000
And where do people like that go to share the big lie?
00:00:28.000
I wish in my soul, I wish that any of these people had a conscience.
00:00:33.000
Ask yourself, what is my task and what is my purpose?
00:00:37.000
If that answer is to save my country, this country will be saved.
00:00:59.000
The journal reporting that none of the largest U.S. banks bid on SVB over the weekend,
00:01:07.000
By declaring the firm systemic, regulators have more flexibility to offer would-be buyers' deal sweetener,
00:01:13.000
such as loss-sharing agreements, according to former regulators.
00:01:16.000
Last night's statement moved beyond half measures, or is it still not enough?
00:01:21.000
Well, I think last night's statement was quite good.
00:01:24.000
I was actually very concerned yesterday morning after Yellen went on the Sunday shows,
00:01:30.000
and she sort of said some of the right sentiments, but it was very vague and unclear, and it didn't inspire confidence.
00:01:37.000
And then last night, when they said that they were going to protect depositors at SVB
00:01:42.000
and they're going to create this new facility for all these regional banks that might have basically unrealized losses on bonds,
00:01:50.000
So I think that, you know, you can say that maybe it took them a day or two too long.
00:01:57.000
The sooner you nip a banking crisis in the bud, the cheaper and easier it's going to be.
00:02:01.000
But I think they did get to a good answer last night, and I think now the question is, is it enough?
00:02:06.000
And, you know, it was still, I think, pretty disturbing this morning that you saw about half a dozen of these regional banks get clobbered,
00:02:16.000
including fantastic companies like Schwab, just get clobbered, and they had to halt the trading of them.
00:02:24.000
And I'm sure you saw Bill Ackman had a proposal this morning where he just said,
00:02:27.000
listen, we've got to just come right out and say that all of these deposits and all these regional banks are protected.
00:02:33.000
We can basically figure out the regulations and the FDIC later.
00:02:37.000
But we need to basically go ahead and let depositors know their money is safe.
00:02:47.000
He's the co-founder and the CEO of the entertainment payroll company Wrapbook.
00:02:54.000
I know President Biden is saying that these funds are going to be available to SVP depositors today,
00:03:00.000
which is obviously fantastic news for folks like you.
00:03:03.000
But I wonder, have you gotten access to your money yet?
00:03:14.000
More importantly to us, everyone paid through Wrapbook.
00:03:17.000
The 100,000 people in production, their funds are there,
00:03:22.000
and they can cash their payroll checks today at the banks.
00:03:25.000
And so they're able to do that, which is obviously a difference from yesterday, a huge difference.
00:03:32.000
We've heard from a 2024 GOP candidate, Vivek Ramaswamy,
00:03:36.000
who says on CNN that depositors, people like you, companies like yours, that they should not get relief.
00:03:46.000
I would not bail out either SVP or even the depositors.
00:04:09.000
And when a bank fails, that means a worker isn't getting paid to pay their mortgage, their childcare,
00:04:17.000
It's absolutely the responsibility of a bank and the federal government to make sure that our deposits are safe.
00:04:24.000
What would have happened without yesterday's intervention?
00:04:28.000
Thousands of people today wouldn't be able to cash their payroll checks on time.
00:04:36.000
Wrap-up worked through the entire weekend to make sure remediation plans were in place.
00:04:41.000
The Fed stepping in, though, was a significant thing to make sure that workers can be paid.
00:04:58.000
What I will say is I think it's the responsibility of a bank to be prudent with our deposits.
00:05:03.000
I think it's the responsibility of the government to make sure that banks are safe.
00:05:14.000
I think there's still some work to be done for people to feel safe.
00:05:22.000
What do you think about the leadership of the bank?
00:05:27.000
CEOs, investors, obviously, who you heard the president say they're going to be ones who took risks and will not be compensated.
00:05:36.000
What do you think about people who made the decisions that put the books of this bank in a place where this could happen to companies like yours?
00:05:55.000
What I will say is that there's a whole community of people across companies affected by Silicon Valley Bank who all got together and tried to act in the best interest of everyone who's getting paid.
00:06:12.000
I leave it to the government to decide and evaluate what happened.
00:06:17.000
I know that you are becoming much more familiar, certainly, with some of these processes than perhaps you were before.
00:06:25.000
Do you worry that if you move your money to another bank, you'll be facing similar problems?
00:06:36.000
I think the actions today reassure us that deposits are safe with banks.
00:06:43.000
At the same time, we should all take measures that are appropriate.
00:06:48.000
As a business, we use multiple banks as redundancy.
00:06:53.000
And when those things happen, it's our responsibility as a payroll processor to make sure people get paid, which is why we're able to move forward today with paying people.
00:07:03.000
Even had Silicon Valley Bank not been had Silicon Valley Bank not been around today to support.
00:07:11.000
I want to start very quickly with banking crisis.
00:07:13.000
Maria Theresa, you were just saying you were surprised you haven't seen power power yelling out more forcefully already.
00:07:20.000
If you actually you look at which bank this is, this is the Silicon Valley Bank.
00:07:25.000
This is also oftentimes the Democratic ATM bank of all those investors.
00:07:29.000
And so the fact that you don't have these individuals, the investors that invest in the people.
00:07:33.000
So the fact that you don't have someone actually talking from the administration and being so forceful, I do think that we're going to see our Republicans saying, oh, you shouldn't bail this one out.
00:07:41.000
And it's going to be, I think, very much on a long political line.
00:07:45.000
No, I think you got to say Republicans got to say you got to stop this.
00:07:55.000
I want to put the alpha male David Sachs, the carnivore, the venture capitalist, and then put the beta male down the guy.
00:08:02.000
OK, the David Sachs is of the world and all the VCs.
00:08:13.000
Remember, this whole thing, all of it is a total and complete scam.
00:08:17.000
And right there, these assurances that Biden gives a day of protecting all deposits, all uninsured deposits is that trains the dollars.
00:08:26.000
This bank, there's one hundred and fifty billion dollars minimum of uninsured deposits.
00:08:32.000
The whole FDIC is only, I don't know, 100 billion, 125 billion.
00:08:35.000
And they said, well, it's not going to take any government.
00:08:38.000
But if they go back and enforce these fees they have in the banks for more FDI insurance, you're paying that.
00:08:47.000
Take your number two pencil out and write it down.
00:08:49.000
I am paying to to bail out the Democratic ATM and David Sachs and all the other big shot oligarchs in Silicon Valley.
00:09:00.000
It had one hundred eighty five to one, I think, leverage.
00:09:09.000
They got all the the the the mortgages, the whole venture lending.
00:09:14.000
A venture capitalist put it puts in money to the company, but he needs other money.
00:09:17.000
And the reason is he doesn't want to take, you know, he wants to get a higher return on capital.
00:09:27.000
They sign a bogus venture lending with Silicon Valley Bank.
00:09:41.000
They just call it a loan because the bank gives it to them.
00:09:43.000
And it's because the management doesn't want dilution in the venture capital group wants higher return on capital.
00:09:50.000
And here's what happens when all the more everything gets upside down that you haven't participated in.
00:09:56.000
You, the shmendrix and the schmucks in the in the guys who breathe through your mouths.
00:10:02.000
You, the audience, write this down with your number two pencil.
00:10:12.000
Even Yellen doesn't want to come out and sell it.
00:10:15.000
She says not about she doesn't want to come on some pal doesn't want to touch it.
00:10:19.000
They taught dotted him out for three minutes on some script.
00:10:23.000
They don't want to touch it because they know we can rip their face off.
00:10:28.000
Where are all the Republican leadership say over our dead body?
00:10:36.000
This is what you get paid for in times of crisis to step up.
00:10:42.000
There's plenty of cash to make these payments today.
00:10:46.000
The cash should come from the venture capital companies that should put lines of credit to.
00:10:55.000
Oh, management doesn't want to do that because it'll dilute them.
00:10:58.000
The VCs don't want to do it because they're going to lower their returns.
00:11:14.000
And right now, they got the jamokes are going to pay for it.
00:11:18.000
Because you're not represented by anybody going to play smash mouse with these people.
00:11:27.000
They got nervous and got their money out first.
00:11:30.000
And then they went, hey, maybe you should take your money out of the bank.
00:11:33.000
Maybe you should take your money to cover their tracks.
00:11:42.000
And somebody's got to defend the people on this.
00:11:55.000
And they've been getting these mortgages, under market mortgages, and leverage to buy stocks.
00:12:04.000
David, the customers have been making a fortune.
00:12:12.000
Steve, oh, you're going to call the depositors.
00:12:16.000
They got special inside deals, every one of them.
00:12:19.000
And you guys should be putting up the credit lines.
00:12:29.000
Not Hispanic Americans and black Americans and working class Americans.
00:12:43.000
They're not going to the vineyards out there in Napa.
00:12:52.000
Because they're at the bottom all the time getting the hell beat out of them.
00:12:56.000
What you have is a form of socialism for the wealthy and for the connected and the rich.
00:13:01.000
And you have a brutal Darwinian capitalism for everybody else.
00:13:09.000
And that's why this system cannot continue as it is.
00:13:12.000
This is the collapse of the neoliberal, neocon order before your eyes.
00:13:19.000
Remember, it's only with your consent that this can continue to go on.
00:13:27.000
I hope you realize now that you are the full faith and credit.
00:13:35.000
That is you, the American people, the working class and middle class in this country.
00:13:41.000
You are the full faith and credit of the entire system.
00:13:46.000
You notice they're not interested in your opinion any other time.
00:13:49.000
But when they got a problem, they come to mom and dad.
00:13:52.000
They come, oh my gosh, let's go to the stable ones.
00:13:54.000
Let's go to the ones that, let's go to Burke's little platoons.
00:13:57.000
Let's go to the same people that sons and daughters die on every foreign battlefield.
00:14:10.000
How many of those kids go die on foreign battlefields?
00:14:14.000
You're always the one that keeps the system up.
00:14:17.000
And it's only with your consent this system can continue on.
00:14:23.000
Would you not like to have somebody represent your interest here?
00:14:49.000
And shoveling money over Ukraine where your Secretary of the Treasury last week's there laying roses on the on front of the wall when she should be regulating banks.
00:15:03.000
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00:16:24.000
This is how evolved we are in the 21st century.
00:16:29.000
Phillip, I'm going to bring you in first for a quick hit, and you're going to hang around.
00:16:33.000
But this is how evolved we are in the 21st century.
00:16:46.000
They say, hey, honey, where do we put the tomato cans with the Federal Reserve with the dollars in it, right?
00:16:53.000
I'm going to do what people have done for 5,000 years or 10,000 years.
00:16:59.000
Tell me about, is this the busiest day in your professional existence, brother Phillip Patrick?
00:17:08.000
I have never had a work day like it, and I think people are waking up.
00:17:12.000
Listen, I'm in Los Angeles at 9 o'clock at night.
00:17:17.000
People are lining up for their deposits this morning.
00:17:24.000
We've talked about the U.S. being Argentina-esque with GDP of, you know, debt to GDP, 129%.
00:17:34.000
It's getting bad, Steve, and people are waking up.
00:17:38.000
There used to be the managed decline of our country.
00:17:46.000
And remember, in the audience, you did nothing to bring this on.
00:17:50.000
You've worked your tail off, or we'll find out tomorrow.
00:17:54.000
For 22 months and probably 23 starting tomorrow, your real wages have declined.
00:18:07.000
The only question now is you're going to comply with the system, okay?
00:18:13.000
Because if you give your consent and you comply with this, then you become part of the problem.
00:18:22.000
I've been talking about China and India and Japan and countries like that buying more gold than ever, right?
00:18:29.000
Now, today, people went and did what people have done for 10,000 years.
00:18:33.000
Because they can't trust what they're being told.
00:18:38.000
Because I watch this TV all day on every network, the business networks, and it's all lies and misrepresentations.
00:18:50.000
Am I too harsh on the financiers, the bankers, and the tech oligarchs, sir?
00:18:55.000
Well, these folks need to get off our lawn in all seriousness.
00:19:11.000
What my value add today is to give the posse some perspective on how the stock and bond markets, the dollar market, assimilated this information.
00:19:24.000
If you look through the other end of the telescope, the macro end, what is happening now has frozen Federal Reserve policy.
00:19:36.000
So if you thought that the Federal Reserve was going to be the agent that could somehow control Biden's inflationary monster, they look like the Vichy France with the third right coming at them.
00:19:49.000
They're running in the opposite direction here today.
00:19:52.000
And you saw an epic drop in bond yields, meaning anybody holding bonds, their prices went up.
00:20:03.000
You know, the rich get richer and the deplorables pay for it.
00:20:06.000
The dollar had a historic drop, wiped out all the gains for the year because when people bet on, when you see lower interest rates coming, that means the dollar's going to go down.
00:20:19.000
And the stock market was flat because they don't think the Fed is going to raise interest rates.
00:20:59.000
billion dollars which is 1.5 times the size of the entire fdc fdic insurance policy it's just
00:21:06.960
at one bank and they gave a guarantee for everybody's money go ahead sir there was no
00:21:12.240
there was no risk manager at that bank and you know in the old days when you learn economics
00:21:18.520
it's like the reserve ratios right the bank's supposed to hold at least 20 percent of deposits
00:21:24.340
and then they lend out the rest and that's kind of prudent but you're telling me i think if your
00:21:29.100
rant was correct they had like leverage of 189 to 1 which is just just just crazy so they they're
00:21:36.480
just like they're just playing with house money banking that the government will come to the
00:21:41.660
rescue it wasn't a bank it wasn't a bank it wasn't a bank it was a it was a hedge fund it was the cool
00:21:46.980
kids it was it was it was a it was a casino yeah casino and by the way i don't want to pick on
00:21:51.840
the management they're all crooks and incompetent but this is why is janet yelling in ukraine laying
00:21:59.220
roses at the wall with the big crocodile tear and saying we got to pay the pensions and the health
00:22:04.700
care of the ukrainians for hundreds of billions of dollars when this bank was insolvent and they knew
00:22:11.820
it was insolvent in the fourth quarter last year anybody that sold a security traded a stock bought a
00:22:17.600
bond ought to sue these people today and a prosecutor ought to impanel a grand jury immediately
00:22:22.740
to find out what caused the run and when did yelling and and when did when did the head of
00:22:28.120
the fdic and the federal reserve and the governors of the federal reserve when did you know this bank
00:22:33.120
was insolvent when did you know it the people are tired of getting crushed go ahead sir yelling on
00:22:38.760
the way home needs to stop at all the banks in europe which are about to fail because of joe
00:22:43.520
biden's inflation remember everybody here has to remember how this whole thing started
00:22:48.500
biden reverses trump's policy energy yes the supply chains right and then he spends like a drunken sailor
00:22:57.740
that's the the spark that created the prayer fire of inflation so this this begins with biden and then
00:23:05.760
if you just ripple it through it's good to remember how this happened it's like as interest rates were
00:23:11.220
going up this this casino this hedge fund is buying treasuries and losing money because as they buy
00:23:19.660
them the prices would fall and then they they had these unrealized losses and then peter teal says
00:23:26.220
get the hell out of there okay yeah okay yeah hang on hang on let me tell you where the financial
00:23:31.040
system is today and i don't know if i can have my staff just it's circling around the toilet the the
00:23:36.260
total hang on total total deposits at all u.s banks it's got to be in i know multi trillions so
00:23:43.800
now you've guaranteed all the uninsured and this is why you're paying for remember this insurance
00:23:49.820
policy fdic takes it from fees from the banks the banks just pass that to you everybody in this
00:23:55.900
audience right down with your number two principle i am paying for this bailout okay by your bank fees
00:24:01.440
you know your bank fees the lower interest rates all of it the banks pass it through to you you're
00:24:06.720
paying for this don't let them lie to you're paying for and the venture capitalists should give them
00:24:11.800
lines of credit not the u.s government how much there's 19 remember not hold it stop stop hang on
00:24:18.000
yeah hang on yeah hang on professor hang on hang on the nba speaking just sit there for a second hold my
00:24:23.740
beer um the uh hold it 19 trillion dollars we've given gary you heard that you heard the little guy
00:24:31.460
of the beard the beta mail the government you know i'm so glad they they they they guaranteed all the
00:24:37.020
deposits 19 trillion dollars of deposits and we're sitting on peter at these banks 600 billion dollars
00:24:46.120
of unrealized losses because they bought this stuff at nothing because there were no interest rates at the
00:24:52.080
time because on the night of 3 november 2020 when fox news helped steal the election for illegitimate
00:24:59.400
joe biden the 10-year treasury was at 0.86 and is at four four percent that's what causes thing it's
00:25:06.860
back to biden and the collaborationist republicans they are guilty of doing this the regulators were
00:25:13.200
asleep and i think purposely looked the other way because this thing was such a mess that's why the
00:25:17.860
california had to step in and not the fed on friday this is outrageous this bank's been unsolvent i
00:25:22.980
think the ratio a bank should have what three or four five times leverage max investment bank eight
00:25:28.020
times has 185 to one leverage it's not it's not a head for you here on casino all right on your cold
00:25:35.260
cold open your beta mail when he said yeah it was great i went in this morning and all the money was
00:25:41.440
there for the payroll where the hell did that come from right right it's like that bank from that
00:25:48.240
casino didn't have it came from us okay it's like it came from like the government janet yellen jerome
00:25:56.180
powell and joe biden co-signed the check last night of money we don't have to begin with and in it went
00:26:03.700
so it's like that's what that was the best part of the the cold open it's like yeah the money suddenly
00:26:09.500
appeared hold it yeah well hold it yeah hold it here's hang on hang on hang on hang on this is
00:26:14.500
what david saxton like in the cold open yellen went on there and yelling this is the financial times of
00:26:20.140
london this ain't gateway pundit yellen dismisses bailouts as u.s racist contagion they gave a bailout
00:26:27.840
for a different just a different part of nomenclature and david saxton i like that a lot more it came in
00:26:33.000
they have guaranteed they have guaranteed 19 trillion dollars of deposits 19 trillion dollars
00:26:41.460
in all of these casinos that around the country that we know the bank regulators are not on top of
00:26:47.620
this bank's been insolvent for months for months and the reason was a cool kids table you heard what
00:26:53.660
you heard that woman said on on on chuck todd it's the democratic party atm why would we wear the
00:26:59.760
republic why would you bail these guys out these guys de-platform you they debank you they hate
00:27:05.600
your guts why are you doing it why are you doing it where is the leadership of the republican party
00:27:11.820
step up here and say over our our dead body over our dead body we give you guys a nickel peter navarre
00:27:17.860
yeah yeah well look scale this up steve it's over a hundred billion dollars in losses at the
00:27:24.960
small bank okay but there's going to be plenty more of that going you scale that up it's trillions
00:27:31.280
of dollars and remember it's this is not happening in a stable in economy it's happening in an economy
00:27:38.480
where inflation is flying out of control we are effectively devaluing the dollar we saw it in the
00:27:44.900
market today was substantially devaluing the dollar and that's more inflation that's what okay that's
00:27:54.000
what we say hey honey import honey where do we have those today we have those because of that
00:27:58.820
where do we have deplorables yeah where do we have that tomato can in the back we gotta get over to
00:28:05.300
philip patrick we gotta get us some bars of gold short break philip patrick navarre next
00:28:10.320
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00:28:22.220
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00:29:24.700
i want to start very quickly with banking crisis maria theresa you were just saying you were surprised
00:29:33.820
you haven't seen power power yelling out more forcefully already jay powell the federal reserve
00:29:38.920
if you actually you look at which bank this is this is the silicon valley bank this is a startup
00:29:43.380
bank this is also oftentimes the democratic atm bank of all those investors and so the fact that
00:29:48.720
you don't have these individuals the investors that invest in the people so the fact that you don't
00:29:52.720
have someone actually talking from the administration and being so forceful i do think that we're going to
00:29:57.440
see our republicans saying oh you shouldn't bail this one out and it's going to be i think very much on
00:30:01.540
okay thank you very much um she said that they won't invite her back for a while she said that's
00:30:09.620
the most truth you've seen on msnbc uh and that's the streaming service or nbc news in a while i want
00:30:16.800
to bring in if we're going to get into all this uh by the way the reason i've seen pound this stuff
00:30:20.160
is navarra knows this is not this deal's actually not sellable because you ask two questions to them
00:30:26.180
and they would actually melt because it is a total bailout by the working class and middle class in
00:30:32.780
this nation and this is worse than 2008 okay for everything revolved around this is worse than as
00:30:38.780
bad as 2008 was this is worse and they had to just even get the stock market to be even what navarro said
00:30:44.640
they guaranteed they gave an implicit guarantee a 19 trillion dollars of deposits 19 trillion dollars
00:30:53.860
and right now because of the inverted yield curve and what we talked about here with navarro and
00:30:58.380
cortez have hammered for over a year you got these massive losses the bond market has finally come
00:31:03.760
to take their vengeance they have unrealized losses i don't know 600 billion dollars why do you think
00:31:09.980
jp morgan over the just talked about the very opening thing we had the code but have a new auction
00:31:13.800
a new buyer's going to come in why didn't none of the big guys you know city corp jp morgan why did
00:31:18.940
nobody buy this over the weekend because it's a mess and it's going to take you a lot of due
00:31:25.140
diligence to figure out exactly what went on here what you're actually buying philip patrick
00:31:28.740
you were a banker before but i think 16 or 17 years you've been in precious metals that's what i
00:31:33.700
very understand this is the busiest day you've had in your professional career in precious metals sir
00:31:38.500
this is by far the busiest day we've had as a company i've had it has it had as an individual
00:31:44.160
it is absolutely crazy like i said people are waking up and they are realizing there are very
00:31:50.640
few options out there precious metals becoming more and more important as everyday passes and
00:31:56.120
something i want to point out whether you're buying precious metals in cash or through an ira the key
00:32:01.760
you own them right even when they sit in a vault in an ira they're directly allocated to the customer
00:32:07.240
they're held off balance sheet uh you know depositories have no power to lend pledge or encumber
00:32:14.020
this is the ability not only to be in an asset that's conducive for climates like this but also
00:32:19.760
to have control over that asset to have real ownership and that for me particularly in climates like
00:32:25.180
this when we realize how fragile the banking system can be it's very very important the reason we do
00:32:33.020
this show is to provide to a working class and middle class audience the sophistication you would
00:32:38.380
get in a boardroom if you were having presentations or quite frankly in the roseret room in the oval
00:32:42.620
and this is why we bring the same people that were associated with this and break things down
00:32:46.400
and this is why we're ahead of the curve so many times and that's what we're proud of we're not here
00:32:50.860
to give you financial advice okay we're here to um with our sponsors what i want is people that will
00:32:57.080
immerse you in information and i've been saying for a long time you must have a range of alternatives
00:33:02.360
that you you individually immerse yourself and make sure you understand things and right now the reason
00:33:08.380
you have people doing what they've done for five or ten thousand years is because they don't believe
00:33:15.260
the people in charge they know they're being lied to they may not know all the technical reasons but
00:33:20.980
something doesn't feel right and they can look at this this disaster in uh this catastrophe in uh in
00:33:28.900
silicon valley and then look at what happened last night in opaso texas was storming the storming the uh
00:33:34.500
the port of entry on the invasion of our nation and they can get this thing like why are these people
00:33:38.620
always in ukraine and why are we shipping billions of dollars and why are we why are we paying their
00:33:42.300
pensions and why are we paying their health care i don't have a pension i don't have health care
00:33:46.040
why are they doing that and then you see something like this you say hey look here's what i'm gonna
00:33:50.180
vote like this i'm gonna go check i'm gonna go make philip patrick and the guy at birch gold
00:33:54.860
the busiest they've ever been in their entire life and it's just by divine providence that we drop the third
00:34:00.280
part of our totally free thing for birch gold which was the debt trap because we talked about
00:34:05.000
the politics of money we talked about the end of the prime reserve currency now we're going to talk
00:34:09.020
to you because remember this is all because of biden's policy one thousand percent this is because
00:34:15.240
of biden's policy one thousand percent it's because of biden's policy the inflation the
00:34:19.740
collaboration is republicans and he puts in your face last week six point eight trillion dollars
00:34:25.880
with program you know a pay raise of five point two percent of federal workers it increases all of
00:34:31.100
they don't take one program down six point eight trillion this is what caused it this is what
00:34:35.620
navara said early on when the recovery act was passed we don't need this aggregate demand is back
00:34:41.420
this is going to cause a firestorm of inflation and here they're doing it again philip patrick how
00:34:47.200
do people i just want people to make sure they can go and ask your guys and immerse themselves
00:34:51.720
in free information kits and information where do they go it's very simple birchgold.com
00:34:58.240
slash bannon again birchgold.com slash bannon information as you said is key you know navarro
00:35:05.900
everyone's been talking about this stuff for a year or more on this show just to immerse yourself in
00:35:12.100
the information if you do you'll know you'll know the steps to take you can reach me personally
00:35:17.240
at philip patrick on getter last quote by the way we told you when the when the when the when
00:35:24.640
the indian government and the chinese and these guys are buying more gold every japanese are buying
00:35:30.080
much gold to get their hands on i think that's a pretty good market indicator last thing peter uh
00:35:36.240
philip patrick is there any doubt in your mind that this is a bailout by the common man and woman in
00:35:43.100
this country of the elites in silicon valley this disaster that's going on sir absolutely no doubt
00:35:48.800
in my mind at all and you could see it with svb right you know who pulled their money out it was
00:35:53.920
the venture capitalists that they got their money out before anybody else the time individual depositors
00:35:59.500
were there that's when everything got squeezed so absolutely and we're the ones that will pay the
00:36:04.560
price that's why it's time to take some control back and make the right decisions timing's key now i think
00:36:11.400
42 billion dollars 42 billion dollars pulled out of that bank in 24 hours that's how the
00:36:19.860
insiders work 42 billion philip is crazy thank you thank you so by the way you mentioned it too the
00:36:25.080
people were in the lines around the around the uh around the uh block at republic which they
00:36:30.340
stabilized because biden gave a guarantee an implicit guarantee to 19 trillion dollars of deposits today
00:36:36.160
this gave a guarantee of 19 trillion dollars in deposits philip patrick honored to have you on
00:36:41.780
here thanks look forward to have hopefully back tomorrow getting more details thanks steve my honor
00:36:47.020
peter you you've been around we're not the same we don't have the same balance sheet we don't have
00:36:54.500
the same economy uh we've gotten we you know after trump left we've gotten weaker every year now
00:36:59.440
on manufacture with with biden this is this is scarier than 2008 is it not sir this could really
00:37:06.740
be the turning point of your book title there with the the end of the dollar empire i mean this would
00:37:12.100
be right on the charts there and think about this steve uh you say it's worse than 2008 today
00:37:18.140
i've got a little bit of money in bank of america i got a little bit of enough in charles schwapp
00:37:23.080
uh bank of america happens to be i think the bank that has the biggest unrealized loss on his balance
00:37:30.500
sheet okay it's a huge bank but it's lost a ton of money uh the same way silicon valley bank has so
00:37:37.520
you know do i have to worry about them and charles schwapp by by bad timing had one of the worst days of
00:37:44.300
in its history today in the stock market because some of the squeezes that are now on it so the point
00:37:51.480
is you know if if you and i if the board was out there have to worry about big institutions where
00:37:58.440
our money is it's not surprising that phones are ringing off the hook and philip patrick's joint
00:38:03.000
uh you know it's that's just like these this this is um the problem but i remember let me just say
00:38:10.380
one last thing hang on you hang on yeah go ahead but when i was uh outside the administration before
00:38:17.380
trump it used to drive me crazy with obama and biden larry summers they just didn't seem to
00:38:22.820
understand basic economics everything was a bailout or or aggregate spending right and and and i'm
00:38:29.660
seeing the same lack of financial market literacy i mean buckley used to say i'd rather be governed by
00:38:35.840
the first hundred people uh you know in the phone book than what we got now and i'd rather be governed
00:38:41.600
i'd rather put you in charge and philip patrick in charge and cortez in charge of our monetary policy
00:38:47.620
and our banking policy no those i think they understand it i think that i think they understand
00:38:53.560
it fine because they have payouts and basic basic minimum income for for the underclass which they
00:39:00.020
want to keep as underclass they'll vote for them and they're aggregate what are you talking about
00:39:03.880
they got a system their system's working fine for them did you not notice they just bailed themselves out
00:39:08.620
they under hey these people are plenty smart don't think they're dumb they're very smart they've
00:39:12.860
gamed the system well that's just gained how and yelling and and and they're useful idiots that's
00:39:18.980
all they are they're they're figureheads for the the democratic atms oh what a what a great phrase i
00:39:25.900
mean that that i think you're right that was probably the most truthful thing that ever was said to
00:39:31.340
chuck todd anywhere anytime this side of the time i got they won't invite her back and he can't
00:39:37.060
be never in the show she was too honest i know about how do you how do you get how do you get uh
00:39:45.860
how do you get uh how do you get uh how do you get to your uh content look uh look peter navarro
00:39:53.540
that substack.com i'm gonna do a big big piece tomorrow uh on this whole chessboard peter navarro
00:40:01.680
dot substack dot com and i already did something on uh on svb so admiral um you're on this and and
00:40:09.600
uh you as far as i'm concerned you're one of the few people standing up for the for the middle class
00:40:14.660
and the deplorables in this country and uh and good for you and i hope i stayed out of your way mostly
00:40:20.000
today no you did okay next time remember you're you're like you're like the uh you're the you're the
00:40:27.480
you're the second you're the second lead you're supposed to tee me up and then not get in the way
00:40:32.520
you just know all you gotta do is tee me up i'm your caddy baby just just give me the club give me
00:40:39.260
the club i'm the guy who says when you get on the hole they'll put it in the water jerk i'll take i'll
00:40:45.720
take dead aim just okay thank you brother appreciate it thank you for doing look for it look for your
00:40:51.260
podcast tomorrow to go through it all peter's got the nose that'll break it all down uh there's a lot
00:40:56.220
of good news there is good news going around and i want to make sure we get to some and we haven't
00:41:00.040
had enough time to focus on wisconsin some of these big races coming up but really some great stuff is
00:41:04.780
happening around the country for the precinct strategy go to precinctstrategy.com you get there
00:41:09.080
get all the information dan schultz steve stern the whole team is putting up that's on fire right now
00:41:13.840
stephanie and andrea stephanie or andrews you come from fulton county you're the new chairman
00:41:19.700
it was a moda sweep how did that happen down in georgia where i hear the establishment runs things man
00:41:25.460
um well i think that the last election the last well first thank you for having me on um two years
00:41:31.820
ago at the convention there was a lot of um chaos and the the election was turned over um so this time
00:41:39.820
there was a strong focus on ensuring that the county convention went well and that the election
00:41:45.000
went well so i think that had a lot to do with it it was a long day started at 9 a.m and we left at 7
00:41:50.900
p.m but um it turned out that every seat all 12 positions were brand new individuals hard working
00:41:58.860
you know just your basic americans who are getting out there trying to um do what's right and what's
00:42:06.420
just in our county hold it all 12 billets all 12 seats went to grassroots people that were just
00:42:14.920
new to this process there were two that were elected last time um but they're well one was
00:42:22.480
elected one was appointed halfway through i think because somebody had quit but they were limited on
00:42:27.220
what they were allowed to do and i believe they both were grassroots so in essence yes
00:42:32.640
and i tell you what we're gonna take a short break i want to come back and get more into this because
00:42:38.900
around the country i mean we could stock every show for four hours a day on the success stories
00:42:44.820
of the grassroots of the success stories of the precinct strategy which is what we wanted to have
00:42:50.760
happen there are stories every day of grassroots people of maga that are plorables taking charge
00:42:59.020
at the local level where is where the fulcrum point of power remember if you want to take your
00:43:05.560
country back you got to start at the local level and if we really want to take our country back
00:43:11.480
you cannot consent and you cannot comply with what they're trying to do now because now they're
00:43:17.520
stealing from you short break back in a moment in joe biden's america criminals are exalted and the
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00:45:05.700
okay welcome back make sure you're good on getter we're gonna be up all night putting stuff up uh and
00:45:13.620
also live streams all of it um so make sure you go it's totally free download it i'm an idiot
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you're not so if i can use it and i don't need help or assistance most of the time you'll be able to
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um make sure also birchgold.com slash bannon you get the totally free the debt trap it's the third
00:46:04.040
in the series of installments we're doing about money and understanding money and understanding
00:46:08.560
the politics of money and i told you this was going to be central to turning this country around as you
00:46:13.620
can see today it's going to be central and turning this country around and also making sure that you
00:46:18.500
are prosperous and free a prosperous and free people remember donald trump for all his shortcoming
00:46:24.460
all his shortcomings and he's not perfect he's the first to admit that gave us four years of peace
00:46:29.440
and prosperity i just want people to remember that as we go through the firestorm that we are going
00:46:35.120
through now one of the places is changing is fulton county georgia stephanie i gotta tell you i think
00:46:40.740
fulton county is probably right up there with maricopa and maybe wayne county up in michigan as being the
00:46:48.060
three most controversial i make though in philadelphia but really i think fulton and maricopa the two that
00:46:52.920
popped to mind what does this mean when you have 12 grassroots people and what you guys did over the
00:46:57.520
weekend and you're now the chairman now that you have a real grassroots and not establishment folks
00:47:02.380
running the fulton county gop what does this mean overall for how fulton what kind of changes can we
00:47:08.120
expect happening in fulton county the first goal is to get into every single precinct we have to have
00:47:13.760
republican presence and get at the local level and start sharing the message of the republican party
00:47:18.700
which is small limited government low taxation family values public safety and recognizing that the
00:47:25.180
individuals in those neighborhoods that are not effectively served are the individuals that would
00:47:30.180
run their precincts they'd be their precinct officers because they're going to realize that they can elect
00:47:34.820
individuals that will help them particularly in atlanta and the south side of fulton they're not
00:47:40.020
being involved their their elected officials and their city officials aren't engaging them the amount
00:47:44.460
of public safety issues the amount of school issues and that's what the republican party stands for
00:47:49.720
and that's why everyone that ran we're all parents we're all working parents and we want the best for
00:47:54.900
our families and for this nation and that's exactly what we have to do and the first goal is to get
00:47:59.700
in those precincts and have a presence because historically the republican party hasn't had a presence
00:48:03.980
um this was and by the way there are other counties too this kind of firestorm at the grassroots
00:48:10.800
it's just been incredible creative destruction media cdm media todd and the team over there just an
00:48:15.920
incredible job of the details of reporting this other georgia uh site uh do you think this do you
00:48:21.780
think that this can catch on throughout the out the country that grassroots people realize we've got
00:48:27.240
to be empowered we've got to get down to the precinct level we've got to start taking over become
00:48:30.940
precinct men but we also then have to go and take over the county uh the county boards and eventually
00:48:35.960
get into the state assemblies and eventually start running for federal office do people see that
00:48:39.880
as the way to turn this thing around i think the answer to that question is yes because i had no idea
00:48:45.500
all of this was happening throughout the state of georgia until after our convention was over
00:48:49.720
and i i think everyone who has been in georgia over the last several years has realized that
00:48:56.480
complacency is not an option and so they're standing up and they're standing up for their
00:49:00.320
rights and they're standing up for their kids and saying this is not what we're going to do this is
00:49:04.060
not what we're about so i have to believe that that's the case because if georgia stands as an
00:49:09.020
example for everyone else then why not because if we can do it why can't any other state do it
00:49:14.700
i believe that stephanie really honored to have you on here can you give people are going to want
00:49:21.120
to keep up with you in the story what is the how do you get to the fulton county gop site how they
00:49:26.160
follow you on social media how do people keep in contact
00:49:28.700
oh that's a great question um the fulton county that's the fulton county gop um dot org site right
00:49:38.660
now that site is is not a great source of um information but in the next 90 days we're going
00:49:45.080
to have a full resource set so people can go there whether they're members or not and get the
00:49:49.740
appropriate information about the party um we're also going to have emails connected to it right now
00:49:54.660
if they need to get a hold of me they can email me at stephanie at vote andres dot com um that's one
00:50:01.760
way to get in touch with me and then they'll be able to follow what's going on off of the website
00:50:06.120
for fulton gop dot org okay do you have any social media or your social media your email
00:50:12.240
um i don't really i didn't really set up a social media for this i have a personal page
00:50:17.880
um but i can definitely get that information out i just i didn't yeah we just just get it back to us
00:50:24.620
you are so grassroots that's that's that's okay don't be sorry you'll you'll get social media trust
00:50:33.540
me this is a great uh leverage tool stephanie honored to have you on here great to have you
00:50:37.360
on here good luck so much thank you ma'am crom carmichael brother we got the the posse's got
00:50:46.540
hearts of lions how do they keep those hearts of lions uh healthy sir uh steve thanks thanks for
00:50:52.500
having me and boy what a wonderful refreshing guest that lady is from fulton county i'm excited about
00:50:58.840
that and let me talk a little bit about salty and why it is so important and that is that our heart
00:51:04.840
is like a car engine and i want to talk a little bit about our hearts because heart disease is the
00:51:10.540
number one killer and if we don't protect our hearts then then we then we're just going to be
00:51:15.900
at greater risk and i've been taking our own product for 18 years and so i can speak from from being a
00:51:22.120
consumer of our own hey crom crom yes crom once you once you hang over a second we're we're going to go
00:51:27.840
into the second hour you just hang right there we'll start the second hour with you we got boris
00:51:31.320
i don't know if boris is in iowa or not we're trying to do a direct hookup with iowa the president's
00:51:35.520
going to be there 7 15 eastern a time i think it's going to be streamed we're going to get a
00:51:41.340
little pregame on that i got joe allen i got a lot to go through on uh i got a thing or two to say
00:51:46.780
about what's happening in the silicon valley bank uh and who's making out and who's not whose ox is
00:51:52.900
getting gored and we're going to get crom over there too short commercial break we're going to be back
00:51:56.860
in a few minutes here on war room and our second hour in the evening we need that hour to make sure
00:52:03.820
we get through everything today by the way there are like a dozen stories we couldn't even get to
00:52:07.840
i mean major big things because what is happening financially in this country is the main thing
00:52:15.220
remember keep the main thing the main thing short commercial break we're going to be back with the
00:52:20.480
second hour of the late afternoon early evening war room back in a moment
00:52:26.000
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