Bannon's War Room - Episode 2586： The Refusal To Bail Out SVB; The AI Arms Race Ramps Up

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

00:00:10.340 these people here's not got a free shot all these networks lying about the people the people have

00:00:16.940 had a belly full of it i know you don't like hearing that i know you try to do everything

00:00:20.700 the world to stop that but you're not going to stop it it's going to happen and where do people

00:00:24.280 like that go to share the big line mega media i wish in my soul i wish that any of these people

00:00:32.100 had a conscience ask yourself what is my task and what is my purpose if that answer is to save my

00:00:40.040 country this country will be saved war room here's your host stephen k band

00:00:47.260 talk in the market today about different investment firms looking at svp cmbc can confirm

00:00:57.100 that private equity from apollo global is reviewing silicon valley bank's loan book and is considering

00:01:01.740 buying a slice of the book at par now a person familiar with the ongoing talk said while apollo

00:01:06.860 is interested in proceeding it is unclear what the fdic is aiming to do and that might be because

00:01:12.700 the fdic is still trying to find one buyer of the whole svp book uh and it's worth noting that apollo

00:01:19.020 is said to be one of a few private equity firms reviewing svp's book this now says it is not a vital

00:01:25.800 u.s interest and he calls it a territorial dispute um ron desantis as a member of the house in the

00:01:31.980 obama administration we in the congress have been urging the president i've been to provide arms to

00:01:36.680 ukraine they want to fight their good fight they're not asking us to fight it for them and the

00:01:40.800 president has steadfastly refused and i think that's a mistake so a flip-flop why the tucker

00:01:46.760 tail is wagging the dog that's why i mean look at the forum through which he wanted to give this

00:01:52.600 information from a host on fox news who has been railing against the u.s involvement in ukraine

00:02:00.900 has been supporting autocrats who are in and around the region and this is a person who has a large

00:02:09.780 audience within the republican electorate um and so that's why they're they're we we are jammed for

00:02:15.160 time today we got a great cold open but we got the spv financial situation we clearly have the um

00:02:21.760 ron desantis answering the questions from tucker and uh tucker going on last night about it's not a

00:02:27.820 flip-flop that's what i just want you to hear what cnn it's not a flip-flop at all uh governor

00:02:32.860 desantis has obviously been a neocon for a while but he's never really took a hard position they're

00:02:39.560 they're citing some letter from 2013 uh that's not what we're talking about here we're talking about

00:02:45.260 getting into a major land conflict uh and i i know the posse has been lighting me up all day

00:02:51.280 about he didn't take a hard line like trump but even president trump hasn't said no it's not as hard

00:02:56.780 as we're taking which is no money whatsoever and force him to the negotiating table immediately

00:03:01.700 president trump said i can get a deal done in 24 hours i would love to have president trump say

00:03:06.100 no more money no more resources nothing until they get to the negotiating table big movement out of

00:03:12.600 ron desantis and i want to i want everyone in this audience to understand the power of this audience you

00:03:17.780 have taken you have the back of the leading candidate but you've taken his chief rival in this primary if

00:03:23.640 he ever gets in you have shifted the overton window that is why the neocon fanboys were in the

00:03:29.860 mumble tank last night right and all day today that ron desantis is now hard into the america first

00:03:36.360 camp and i realize people are saying he hasn't committed to you know no resources he did say

00:03:41.240 the magic words this is not in the vital national security interest or even really in the national

00:03:46.020 security interest in the united states this is a regional conflict we've got you know if we get this

00:03:50.940 last one there was development today that's quite important i want to bring peter though in first for

00:03:56.140 the spv i want to play later i'll call for it the drone there we had a a reaper uh a reaper drone uh

00:04:02.960 that got hit by a russian uh looked like combat aircraft and the reaper drone is it's not some

00:04:08.660 drone you take to the park and start flying around this is a weapons platform that's kind of like a

00:04:14.080 mini awax right can be both a surveillance also it's a big weapons platform we'll get into all that

00:04:19.120 here momentarily uh peter somebody's living in fantasy land if they think that apollo who are

00:04:25.260 a group of carnivores and killers right if they think apollo's in there looking at a bond portfolio

00:04:31.240 at par uh they're they're they're they're dreaming right you you've got vultures all over this thing

00:04:36.840 now that we have given now that the maga has uh because the fdic has given a outright um you know

00:04:45.280 underwriting of uh the 19 trillion dollars of deposits throughout the country or the five or six

00:04:50.020 trillion dollars of uninsured deposits now that everybody knows that that's all taken care of

00:04:54.840 because maga is being asked to bail out which it is a bailout um you've got the vultures going around

00:05:01.000 and they're looking at the portfolios uh they're looking at uh at even buying uh you know they were

00:05:06.760 looking at buying uh deposits i think they got an offer in deposits on x cents on the dollar so tell

00:05:12.740 us what's going on and why is this another example of a elites because there's zero interest there's zero

00:05:20.200 reason that maga's underwriting any of this this the venture capital could have very easily extended

00:05:26.560 lines of credits to their companies which is 99.9 percent of the clients of uh of uh of this bank

00:05:33.400 why now do you have the the apollos of the world they're going to make fortunes going and buying the

00:05:38.420 portfolios at 20 cents on the dollar and uh and and uh selling them uh closer to par to make a fortune

00:05:43.920 sir okay kind of the wilbur ross route to uh to riches uh steve i spent all day long uh working on

00:05:52.820 today's podcast and substack and the title of it says it all the rich get richer and the deplorables

00:05:58.580 pay for the bailout and what we're seeing here is yet another example steve it's very distressing

00:06:04.760 where the wealthiest of american hedge fund managers and venture capitalists are making billions and

00:06:12.700 billions of dollars off this crisis uh just yesterday when bond prices surged and the dollar

00:06:21.480 crashed you had a lot of this hedge fund money long the bonds and short the dollar and and all that

00:06:30.480 money does nothing to increase the efficiency or productivity of the economy it just transfers more

00:06:37.380 wealth to to these these liberal elites but a lot of democrats who benefited directly from the bailout

00:06:45.660 itself and it's very very distressing i mean you there's no better coverage than this than your show

00:06:51.380 because it really lays bare the amounts of money that are actually involved and you know the the

00:06:59.020 conundrum here is the whole wall street response now is predicated on the assumption that jay powell

00:07:07.360 is going to do a mea culpa for raising rates too fast and leading to these unrealized losses which

00:07:12.540 created the collapse in the bank runs and stop raising interest rates but if you believe their bs steve

00:07:19.760 about the fed being able to actually control inflation simply by raising rates and they stop now

00:07:26.880 nothing's changed i mean hey the biggest news of the day which nobody paid attention to was what

00:07:32.880 the cpi came out hotter than expected at 5.5 percent a year on the core the core alone and so um we keep

00:07:42.240 paying and paying and paying for this and i've got to commend you steve the interview with jd vance was

00:07:49.100 really really good because he's probably and i mentioned this in the subset he's the only guy in

00:07:54.000 the senate who could talk about what's called moral hazard basically what the biden regime has done

00:08:00.740 instead of taking a a cautious route to dealing with this letting the svb go back up and the wealthy

00:08:07.060 investors take the haircut um he immediately prided this vast bailout and then what 19 trillion that's

00:08:15.060 by the way that's that's around the the size of our annual gdp and what what that does is jd vance

00:08:21.740 pointed out was reward the riskiest possible behavior of banks the excessive risk taking

00:08:28.760 so that now a banks think that they could do anything they want and the feds will have their

00:08:33.280 back so that's where we stand right now it's just it's it's this it's it's this it's it's the scale

00:08:40.620 of the magnitude right now between signature it's between between and remember this the law this is

00:08:45.820 the law of large numbers you have 170 billion we think uh unsecured deposits at svb you have 80

00:08:53.580 billion over its signature that's 200 that's a quarter of a trillion dollars and 660 billion

00:08:59.200 and you're in your fee system yeah right and the idyllically well 660 hold on hang on hang on

00:09:05.400 ho ho ho ho don't confuse the numbers the 6 660 billion is the unrealized losses on their government

00:09:12.680 secure on their portfolio they're 19 trillion dollars in the system of deposits i think there's

00:09:18.580 five or six trillion dollars of let me explain that from an economist point of view yeah what this is

00:09:24.700 the very lead that nobody seems to understand what what they have done with this bailout is it created

00:09:30.940 expansive monetary policy jolt because the whole way for monetary policy to expand the economy is by

00:09:40.020 expand the money supply and so what they've done is by basically writing up the reserves of all these

00:09:47.060 banks with unrealized losses it allows them to give out more loans in the in the billion hundreds of

00:09:54.000 billions and that creates money supply and that creates demand pull inflation and nobody steve what

00:10:00.780 the hell i mean the only people seem to understand this are philip patrick steve cortez steve bannon dave bratt

00:10:08.180 and and and and maybe yours truly here it's crazy and i'm i'm not even an economist i just i just have

00:10:14.360 my union card from the business school i'm just i'm just a mechanic here i'm just i'm just a mechanic

00:10:18.960 you're you're the theorist no but here's well what you provide is like the deal making inside the room

00:10:24.140 to see how this crap happens you know i'm an economist going how the hell they do that i better check with

00:10:29.400 bannon right it's a good complimentary pepper baby you know what i mean but here's here here's how

00:10:37.180 it's here's how it's how it's going to affect the audience in the country is that now and people

00:10:42.040 saying well bannon why are you and cortez and navarre got your hair on fire the markets are calm

00:10:46.100 everybody's happy it's all working out no because they know that the fed is now backed off they can't

00:10:51.440 they're not going to raise the raise like they should have to tame inflation and that's why the punch

00:10:55.640 bowl's been the punch bowl's been put back in for the people to continue the party the people that

00:11:01.380 are going to get i went up above expectations yes come on this is just but if you see cni yes they

00:11:09.220 said that they're reporting is that oh it's a fourth month it's yeah i mean it's levitating steve and it's

00:11:14.720 all going to come crashing down go ahead no but they're seeing as for oh it's a fourth month in the

00:11:21.180 row but they're not looking at the core they're not looking what cortez went through the day

00:11:24.440 that food's up 12 breads up 15 you know rents up here you're getting the working class people

00:11:29.800 in the middle class is getting eaten alive 24 straight months of real wages down getting eaten

00:11:36.520 alive okay and hey let me tell you something folks it's going to continue the dumpster fire

00:11:42.380 is now going to have gasoline thrown on it it's going to continue and this is what is the crime

00:11:47.320 about this yeah the corporations are playing games like you know you you buy your dozen donuts

00:11:52.220 and you there's only 11 in the box right or they're half the size and this is how the corporations

00:11:59.040 are going to deal with this and try to shift the burden right to the problems and remember

00:12:04.220 you get these idiots like at axios talk we're talking about how wages are going up they're talking

00:12:10.740 about nominal wages and oh by the way inflation is going up faster so not real wages inflation adjusted

00:12:17.000 are going down i mean this is this is chaos there's no way out there's no way out and let's

00:12:22.500 remember stolen elections have consequences and and this these are catastrophic consequences and again

00:12:31.360 i stress the fact that the only way out are structural changes right the kinds of things that donald trump

00:12:37.280 did the fed can't solve this problem it doesn't have enough tools in its box okay you talked about

00:12:44.220 stolen elections we got a couple things i got to get to you yeah we're here but i want to take do i

00:12:47.980 have the drone strike because i want the thing with tucker last night and with uh i can't overstate

00:12:53.660 how that important that was ron desantis it's a game changer now because all the neocons hearts are

00:12:58.760 broken can we can we go ahead and play the drone strike right now do you have that if you don't have

00:13:03.380 it you sound confused okay it's called cut one cut two you remember we do this we do this okay we do

00:13:09.940 this no no no we don't do it stop we don't do it we're not going to do it uh real quickly talk to

00:13:15.640 me about talk to me about ezra klein tell me about ezra klein and new york times bombshell about fox

00:13:22.700 news and his reporting on 3 november 2020 at 11 20 eastern standard time at night sir sounds like it

00:13:30.780 was it was a little jiggy there a little shaky inside of fox headquarters they called that race um

00:13:37.040 according to i think a guy named aaron mishkin who's at the fox desk on the assumption that

00:13:43.020 biden's game day vote would be the same margin of victory as it was in the ballot boxes they stuff

00:13:50.580 and if you know just like where were those guys for months on end that's impossible we all know that

00:13:57.860 on game day the republicans come out in droves relative to the democrats so right off the bat it was

00:14:04.220 a bias call i don't buy anything that fox is saying i think the people who made that call

00:14:09.520 were never trumpers who wanted to screw donald trump but even if that's not true yeah let's suppose

00:14:15.680 that's not true they're stupid they're freaking stupid because this the mistake they made

00:14:21.100 is is so divorced from reality it's like they must have been kind of in a computer their whole life

00:14:28.940 never kind of looked up at what was happening in the real world so this fox is criminal and brett bear

00:14:36.020 remember he's the guy who made that call never forget that

00:14:40.080 uh one second we're gonna take a short commercial break i think we'll have our cuts organized on the

00:14:48.540 other side michael seaford here is with us uh carrie sheffield uh we were gonna bishop strickland i don't

00:14:55.660 know if that's work at joe allen we're bobbing and weaving buy gold and get a free safe to store

00:15:01.420 it in that's right on qualifying purchases from birch gold group now through march 31st they'll ship

00:15:07.980 a free safe directly to your door just text bannon b-a-n-n-o-n to nine eight nine eight nine eight

00:15:16.460 to get your free info kit on gold and to claim eligibility for your free safe here's the deal

00:15:23.120 the fed keeps raising rates because it's the only tool they have to keep inflation under control

00:15:27.780 and guess what it's not working you can't spend your way out of inflation you've seen the impact

00:15:33.880 on the stock market you've seen the impact on your savings hedge inflation by owning gold let me repeat

00:15:39.640 that hedge inflation by owning gold whether physical gold and silver in your own safe or through an ira and

00:15:47.260 precious metals where you can hold real gold and silver in a tax sheltered retirement account

00:15:53.720 birch gold has a a plus rating with the better business bureau and thousands of satisfied customers

00:15:59.500 text bannon to nine eight nine eight nine eight for your free info kit on gold and to claim

00:16:05.520 eligibility for your free home safe by march 31st on qualifying purchases again text bannon to nine eight

00:16:13.700 nine eight nine eight here's your host stephen k bannon

00:16:19.100 okay uh we need everybody to get up to speed we got homework assignments all over we got uh in fact

00:16:27.560 at six o'clock uh julie kelly's going to join us cash patel's going to join us uh and cash is going to go

00:16:32.900 over a little bit of this territory national security but we're going to talk about explosive uh reports

00:16:37.880 that were not turned over to anybody including the j6 committee on uh on the intelligence that was done

00:16:43.120 before j6 it's just absolutely mind-boggling if you think the tapes that you saw on tucker that

00:16:48.420 night blew your mind there's all types of other stuff that's been suppressed that were that now is

00:16:53.580 coming out i want to thank joe mcbride the lawyer for for putting it out um and we look forward to

00:16:59.620 getting joe on here and walk it through it julie will take a crack at it tonight um

00:17:03.080 birchgold.com uh slash bannon this thing is you know it's been a massive hit for birch and ourselves

00:17:11.080 because what we do is walk through really the concept of money and currency in your life and

00:17:16.280 right now the third installment called the death of the dollar empire the um the third installment is

00:17:22.360 debt trap and it's all about the debt limit but it plays into exactly what has happened in the last

00:17:28.000 72 48 hours so it's very uh pressing it's probably as pressing as my cpac speech a week ago which is

00:17:34.280 aging quite well thank you very much um so i want to make sure everybody gets totally free

00:17:39.920 download the first two installments also free so make sure you get it peter you had a thing that

00:17:45.600 was free too at at one time the navarra report i just want to make sure everybody understands this

00:17:50.280 of all this yelling and screaming and all the hair on fire and fox and fox has got the best decision

00:17:54.780 desk and the best analytics and the analytics are true the the new york times i think it's client they go

00:17:59.820 through and do this analysis yeah and they come out with the fact that they made a decision at 11 20 at

00:18:06.320 night that biden's game day vote was going to be the same as trump's what planet are you on remember

00:18:12.360 for people watch the show at the time i i gave with raheem and i think bill mcginley helped us but raheem

00:18:17.780 and i went around the country this is one of the covers there a lot of it we did by zoom we started

00:18:21.920 new york city live to talk about the transition integrity project run by mark elias and those guys and

00:18:28.040 one of the central beats was that you know they're all mail-in vote that trump was going to win by

00:18:33.040 landslide by that night and then over two weeks they were going to sit there with all the phony mail-in

00:18:37.940 votes and take the presidency and we said hey game day vote and particularly in arizona arizona is the

00:18:44.660 railhead of the hardest core the hardest core of the trump movement is the desert rats out in arizona and

00:18:51.400 anybody to conceive that analytically that biden was going to be it's totally and completely phony and

00:18:57.880 it was done by senior ownership of fox and i've said this from the beginning the murdochs hate trump

00:19:03.820 they don't want him around and they made that call and when they had the new york times and by the way

00:19:08.920 fox is not covering this uh msnbc is not covering it uh it's in the times it's a bombshell of a report

00:19:16.340 to show exactly what went on that night to change the direction of that night and to change the direction

00:19:22.240 of our country uh peter navarro well the the navarro report the three volume report has aged quite well

00:19:31.940 as well steve and it's available on peter navarro.com what i did in that report for the boss

00:19:38.760 um was do a deep dive particularly in the battleground states and basically illustrate all the different

00:19:46.780 ways that at the time that election likely was stolen we now know that of course it was but arizona was

00:19:53.680 interesting in and of itself because the margin of victory there i mean basically for biden it was a

00:20:00.420 dead heat with all the fraud that went on there and irregularities it was a dead heat and what what

00:20:08.960 why that's important is that what's stunning about the fox news excuse for what it did based on the new york times

00:20:19.480 reporting is that they said this guy aaron mishkin says that our our data and our modeling

00:20:26.780 said that biden was going to win roughly the same amount of votes on game day as he was ridiculous

00:20:35.740 leading in ridiculous to the absentee ballots now ridiculous now like i say steve nobody who has

00:20:42.740 half of even a tenth of a brain and looks up around during the weeks and months much less listen to

00:20:50.020 the war knew that game day voting was going to overwhelm biden that day no but hang on they're

00:20:55.820 okay okay brother they're not dumb they're not dumb they know exactly what they're doing come on

00:21:00.700 exactly what they did which is what i've always said steve there's no way that that wasn't an

00:21:06.660 inside job i never trumpers the the thing that we haven't been able to found which congressional

00:21:12.240 investigation should be able to find is who was responsible you say the murdochs i say paul ryan

00:21:18.440 i say paul ryan had something to do with that congressman he's he's a grundoon he's a grundoon

00:21:23.700 he's a grundoon look for the money tower watch succession watch succession he's a higher man

00:21:29.500 no hang on hang on calm down calm down we got it i want i want you i want you to write this up on

00:21:37.000 substack your navarra report is aged very well sir because it happens to be based upon hard analytics

00:21:42.180 as only a phd from harvard school of economics uh can can give us that's why it's aged so well

00:21:47.940 your next substack should be about this because it's just unbelievable i want to play

00:21:51.540 i want everybody to understand something the audience is the vanguard the cadre

00:21:56.080 of the populist nationalist movement you you punch way above your weight you have shifted the overton

00:22:01.680 window so i talk about de santos it's not perfect what he said but think of where he's come from and

00:22:06.520 look at the broken hearts in the neocon movement you can't have the two leading candidates who are

00:22:12.140 really the only two real candidates trump and de santos right flat out say hey ukraine is not a fight

00:22:18.860 we're on southern border ukraine out so that is and it's because of you it's because this audience

00:22:25.800 has shifted this i want to play now this this the predator our predator got hit today let's go and

00:22:31.120 play that one i want navarra to comment yeah now to our breaking news a russian jet has forced down

00:22:38.460 a u.s drone over the black sea after damaging its propeller brianna this played out early this morning

00:22:44.440 over international waters of the black sea according to u.s air force europe an mq-9 reaper drone a u.s

00:22:49.960 air force surveillance drone or spy drone was flying over the black sea when according to the air force

00:22:55.180 two russian fighter jets conducted what they're calling an unsafe and unprofessional interception

00:23:00.380 so somehow that russian fighter jet managed to damage their propeller forcing the u.s to bring down

00:23:05.820 the drone why is it why is a major surveillance and weapons platform over over the black sea

00:23:11.200 because peter navar it's targeting for the ukrainians okay and we say we're not a combatant here

00:23:18.000 right we we've got they we know we have no quote-unquote military personnel but we got plenty

00:23:22.820 of contractors in there uh and i think you got a couple of three maybe special forces you know off

00:23:27.460 the books as they say in there but we've got major targeting platforms sitting there targeting uh for

00:23:34.240 the ukrainians and i gotta tell you this is the way the law of unintended consequences in the fog of

00:23:39.860 war you get in some shots being fired dr navar well look this is a clear uh ride up the escalatory ladder

00:23:48.460 it's the beginning of what is likely to be an endless war in the ukraine but unfortunately this

00:23:55.040 one could go nuclear because they're already flirting um rhetorically uh and threateningly with tactical

00:24:01.960 nuclear weapons so you know what i want to find out steve um is who's pulling the strings on this

00:24:08.380 is this going on in the situation room with biden sitting there with his national security advisor is

00:24:13.820 this going on at the pentagon without the without coordination of the white house are they coordinated

00:24:19.140 together because uh congress i mean we're gonna if we're gonna declare war on russia and then we damn

00:24:26.700 well ought to ought to ought to have congress have a say in this right if i'm a congressman i'm i'm

00:24:32.500 going what the hell's going on we are only the ones who have the power to declare war you're doing acts

00:24:37.860 which are pro which are going to provoke a war there's no question about that and then you're

00:24:43.520 going to come to us with a gulf of tonkin resolution maybe they'll do this on this and say hey

00:24:48.520 we gotta declare war uh you know you remember what happened that gulf of tonkin resolution by the way

00:24:54.040 this this yeah but this is the point this is the point for the syria vote the republicans are not

00:25:00.940 forcing him to come here for a war powers resolution on ukraine and this certainly their performance

00:25:07.420 right on their performance on on sbv has been less than pathetic it's a disgrace let's play the clip

00:25:16.060 let's play the clip let us down okay let's let's play the clip right now from yesterday from uh

00:25:23.280 from nbc go ahead and play it

00:25:25.180 i want to start very quickly with banking crisis maria theresa you were just saying you were

00:25:30.780 surprised you haven't seen power power yelling out more forcefully already jay powell the federal

00:25:36.100 reserve chair if you actually you look at which bank this is this is the silicon valley bank this

00:25:40.280 is a startup bank this is also oftentimes the democratic atm bank of all those investors and

00:25:45.400 so the fact that you don't have these individuals the investors that invest in the people so the fact

00:25:49.780 that you don't have someone actually talking from the administration and being so forceful i do think

00:25:53.820 that we're going to see our republicans saying oh you shouldn't bail this one out and it's going

00:25:58.060 to be i think very much on a long political line okay peter you don't see anything from the leadership

00:26:04.260 they had this conference call last night you don't see anything from republican leadership this is a

00:26:08.780 democrat atm brought about not by woke policies by biden's fundamental economic and the feds capital markets

00:26:17.380 policies it's a disgrace and you got a minute peter tell me what the republican house should be doing

00:26:22.780 right now well the republican house should be yelling at the top of their lungs that this bailout is wrong

00:26:30.020 for all the reasons that jd vance talked about but what i said today in my sub stack was the end was

00:26:35.960 that kevin mccarthy is pivotal in this he's got to hold firm right now on the debt ceiling and get

00:26:43.320 meaningful expenditures down from the biden profligate spending because the fed is out of the mix now

00:26:51.380 steve the only the only way we've got any kind of hope of making any kind of inroads on inflation is

00:26:56.400 the demand pull side and that means reducing expenditures so i mean the congress the republicans

00:27:02.360 are not talking about ukraine they're not talking about svb they're not talking about the bailouts

00:27:06.400 i don't know who they think they are i mean the people elected them to actually be republicans and

00:27:14.200 they're not peter well how do you get to your sub stack by the way i have some comments after the

00:27:20.360 break on this how they because they they got to stop there's this facility they're talking about it's a

00:27:25.280 fantasy this is all going to come crashing down the deplorables how do people get to your sub stack how

00:27:29.640 they get to all your content yeah peter navarro.substack.com it's peter navarro.substack.com

00:27:36.760 and i'm posting all of this in real time on on getter and twitter and true social and getting it out

00:27:42.120 there this sub stack today is really important i spent a lot of time on this one it'll give you the

00:27:46.540 whole enchilada understand the economics and and the uh investment implications admiral you you're

00:27:53.480 unbelievable you're a very good man you're you're a very good man dr navarro you are you're a very

00:27:59.440 good man we'll take a short break or have another good man michael seyfried's going to join us

00:28:03.720 carrie sheffield's going to join us we're going to hit it and i'm going to have some comments about

00:28:08.440 the predicament we're in and what needs to be done immediately next in the world

00:28:12.260 nobody thinks that i can take their house and borrow against the house oh no i have title insurance

00:28:20.380 no it's it's in my name or he would have to get some special document they would call me you know

00:28:26.140 nobody's calling you after i've stolen the title borrowed against it or sold the property or it's

00:28:31.620 60 to 90 days even figure out that that they're the victim of this crime you know by that point

00:28:36.720 you start getting foreclosure notices you've got four mortgages on your house you don't even own

00:28:41.340 your home anymore it's not even in your name that's a convicted criminal confessing how easily

00:28:46.420 a criminal can find forge and refile your home's title in his name i discovered that neither my

00:28:53.360 identity theft program nor homeowner's insurance protected me that's why i chose home title lock

00:28:59.560 and you should too you could already be a victim and not even know it go to home title lock.com and

00:29:06.180 get a free title scan with sign up you need to verify your home is still in your name then use code

00:29:13.760 bannon b-a-n-n-o-n for 30 free days of protection that's promo code bannon at home title lock.com

00:29:22.340 go to code bannon for free 30 days that's bannon at home title lock.com here's your host stephen k bannon

00:29:33.260 here's what has to happen to forget all the noise and people run around all the stuff

00:29:39.880 it's about this facility that the fdic we have a quarter of a trillion dollars right now of unsecured

00:29:45.640 deposits and we have basically said we're going to secure it with your money remember this is all

00:29:50.040 going to flow through bank fees that you're going to be paying just remember that you are paying 100

00:29:55.100 percent of this and the question gets to be they got to have we had we broke news today jd vance

00:30:00.960 senator vance of ohio is on this as much as anybody's the one populist on the banking committee he said

00:30:06.320 he asked the fdic guy goes look are you giving it a permanent guarantee to all depositors or are you

00:30:11.360 giving it to unsecured how is this going to go what's the how's it flow through the the executives

00:30:16.640 over at the fdc had no answers for him that was on this morning show no answers they're just totally

00:30:21.580 winging it and the reason they can wing it is the media is complicit the republicans are passive

00:30:25.960 and you're paying for it right now we have to see what the gap is there right there trust me they

00:30:31.060 can't come before and testify they can't show because they don't know and they realize this number

00:30:35.420 is so huge so massive because essentially right now the reason the markets have come they've given

00:30:41.240 an implicit guarantee for 19 trillion dollars of deposits 19 who's who's got that i think five or

00:30:49.040 six train of unsecured deposits we're gonna get to the bottom of but this is the beating heart of

00:30:52.980 this remember we like to get to the to the heart of okay i got two stories here with two great

00:30:58.420 individuals one is about good technology and how we can use it to you know for to stop giving money

00:31:03.620 to people that hate you and the other is the great carrie sheffield's here and she's done such an

00:31:07.940 incredible job on getting all over tiktok which is not good technology owned by the chinese communist

00:31:12.900 party let's start with michael seifert at public sq michael i have been an advocate whether it's the

00:31:20.400 fjb community whether it's uh birch gold all these alternatives people have to look for alternatives to

00:31:25.580 be self-reliant but also to stop giving money to people that hate you you have to be prepared you have

00:31:30.800 to take on your own responsibility be prepared you have to look at alternatives uh you have to immerse

00:31:35.200 yourself in information what i love about you in public sq you provide a free service that is

00:31:42.160 essentially stop giving money to people that hate the reason i love the patriot mobile guys stop

00:31:48.060 giving your money to people that hate you don't support it you don't have to because there's

00:31:53.840 entrepreneurs like the seiferts out there uh that are uh and glenn's story at a patriot mobile and many

00:31:59.920 others we put up here that are alternatives and support your values seifert tell us about public

00:32:05.600 sq how to be i want i want people specifically know how they can go log on and start to use the

00:32:10.500 service well thanks for having me steve it's great to be here and you nailed on the head with why we so

00:32:17.520 desperately need alternatives even the last few days have been a very stark reminder of how broken

00:32:22.420 the system is and the leaders at the center of that system pride themselves on their virtue and on

00:32:27.020 their sustainability and inclusivity while in reality they live the exact opposite these people

00:32:32.860 have no problem abusing the american dream they have no problem abusing the american taxpayer they

00:32:38.500 lobby a regime for the furthering of their power while you're the one that ends up having to pay for

00:32:43.020 it it's the svb situation uh to at and so what we've tried to do is actually create a marketplace using

00:32:48.880 good technology that gives the power back to the people so that for your daily needs for your banking

00:32:55.580 your health care mortgages coffee shops restaurants clothing you can go with companies that prioritize

00:33:02.320 quality products and services they refuse to cancel you or lecture you about your political views in

00:33:08.260 the process so that you know with a blessed assurance you're not funding your opposition

00:33:11.980 so public sq.com we created the nation's largest directory of freedom-loving patriotic america first

00:33:18.800 businesses and consumers so that there can be trust as an integral part of every single transaction

00:33:24.840 because we are dedicated to the same set of values that have made this country so special in the

00:33:29.360 first place it's free to sign up and join for business and consumer we generally and genuinely

00:33:34.360 believe that this is how we shift the power back to the people it's through commerce so we'd love it if

00:33:39.700 you'd join us okay i want people i'm gonna tell a quick story you know during cpac you had uh

00:33:46.580 kimberly was going to have a little celebration don jr was going to put on for him i know don jr i think's on

00:33:50.960 your board or a big sponsor of the company and you had you know caroline wren kimberly guilfoyle

00:33:56.100 alexander preate our comps person you had uh don jr people come on the show contributors

00:34:00.980 and people come we're very you know obviously close to don jr and kimberly and uh and they

00:34:06.040 and don jr only uses your service to find out where to go do things and they and they went to a

00:34:11.040 restaurant and i said well hold it that restaurant is owned by some of the biggest liberals

00:34:14.760 said oh no change hands the guy's full maca and they said they found it on c4s on michael c4 on

00:34:20.900 public sq was right there and they showed up that's that's the power of what you guys are doing

00:34:26.040 once again it's totally free both if you're an entrepreneur you got a company got something you

00:34:29.760 want to sell products or services or if you're a consumer i want people where do they go to get

00:34:35.000 the information of what they need to do to find out more about you and to sign up michael

00:34:39.140 thanks steve you head to public sq.com and you can engage as a consumer or a business you can sign

00:34:46.200 up for free it's very easy to get started we'll never ask you for money just jump in what's very

00:34:51.340 cool is that many of the businesses will actually give you discounts to go there and the don jr

00:34:55.260 story was a great example they went to celebrate kimberly's birthday with a great crew that are full

00:34:59.860 maga and they walked in and they said we were able to dine without fear of getting yelled at or

00:35:05.280 canceled they embraced us they welcomed us in the heart of dc a city that's like 92 progressive

00:35:10.620 so to see that type of interaction happen for the don juniors of the world and for the everyday

00:35:17.100 consumer that just wants to know that they can shop with the blessed assurance that there's trust as a

00:35:21.120 part of the transaction public sq.com is where you get started brother thank you very much see for

00:35:27.180 this is the good use of technology here in maga we got to build alternatives alternative economy

00:35:31.900 got to happen uh although we're taking political power back trust me you're going to get so many

00:35:36.700 more of these uh silicon valley banks just jammed on you let's go to uh carrie sheffield carrie you've

00:35:43.140 done an extraordinary job why are you picking carrie you're a very nice person people always say carrie

00:35:47.480 sheffield's you know very nice very nice person why are you picking on tiktok isn't that just what

00:35:53.760 the kids the young kids like to do little music videos and dance videos why why are you why are you

00:35:58.020 being mean why are you picking on them well i think the word nice is a very broad word uh and when it

00:36:05.320 comes to freedom um i think that uh when the ccp is trying to use psychological operations

00:36:12.680 on american teenagers that's not very nice and i think that we should call it out so as you're

00:36:19.500 putting this headline up here i wrote a piece for the new york post um and it was really interesting

00:36:24.640 the new york post which we all know that they were the almost the only free uh truth teller in the

00:36:32.000 2020 election when it came to the hunter biden laptop um so i was proud to write it for them um

00:36:37.680 they actually investigated one of their journalists post as a 15 year old boy and also as a 14 year old

00:36:43.180 girl on tiktok just to see what sort of content the algorithms would feed them and it was garbage i mean

00:36:50.380 it was toxic um it was content you know embracing or trying to encourage suicide underage drinking

00:36:57.160 um it so it's not just it's not just a silly little dance app as much as uh you people might

00:37:03.220 want to portray it that way and you're talking about you know within the u.s uh boys and girls

00:37:07.740 ages 13 to 25 75 percent of girls have tiktok accounts and 62 percent of boys and i just think

00:37:15.820 when you're talking about psychological operations um for the piece i looked at a report by uh heritage

00:37:22.020 foundation scholar dean chang is his name and he had a really good quote he's an expert on the ccp and on

00:37:27.620 the threat of china he talks about you know in the information age the the concept of warfare it's so

00:37:33.460 different um and he talks about how this provides an unparalleled ability to influence both the nation's

00:37:38.840 leaders but more importantly it's people in this case um and he says the core of the chinese concept

00:37:43.900 of psychological warfare is to manipulate those audiences by affecting their thought processes

00:37:48.740 and cognitive frameworks in doing so beijing hopes to be able to win future conflicts without firing a

00:37:54.520 shot victory realized through a combination of undermining opponents wills and inducing maximum

00:37:59.900 confusion and what i think is so telling is that the tiktok equivalent over in china they do not allow

00:38:06.280 their children to be exposed to this sort of content the algorithms in china what do they give their

00:38:11.500 children they give them science experiments they can do at home they give them museum exhibits they

00:38:16.480 also have a control where you cannot use it for more than 40 minutes it locks you out we have none

00:38:21.540 of those controls and i know we were talking about an op-ed in usa today where the writer is a you know

00:38:27.080 you know one of those libertarian purists from cato institute uh i i respect her i actually know her

00:38:31.940 jennifer huddleston um but i disagree with her in this she was saying that oh this is a threat to the

00:38:37.660 first amendment if you were to ban six hawk um and look maybe the solution to start with is

00:38:42.640 okay china if you're going to put those controls on your kids then you should mandate those controls

00:38:47.540 for our kids here in the u.s you're going to fit you're going to feed our kids garbage but you're

00:38:51.360 giving your kids vegetables we know the long run um you know generational impact and what what's

00:38:56.960 going to result in that in fact i should point out also there was a study asking chinese kids what's

00:39:02.440 their what are their aspirations what do they want to grow it be when they grow up i said they want

00:39:07.780 to be an astronaut or scientist things like that but in america they wanted to be an influencer social

00:39:13.360 media influencer that was the top answer so you tell me steve what what's the long-term implications

00:39:18.800 of that type of society no it's it's it's it's sun tzu's uh it's sun tzu's uh destroyed the enemy

00:39:25.500 without firing a shot it's also unrestricted warfare it's right from the manual carrie how do people

00:39:30.260 we've got the we've got this article up everywhere on our sites how do people get to your social media

00:39:35.460 and uh and your website because you're one of the most important uh thinkers around

00:39:39.540 thanks steve i'm sure yeah no we'd love to talk with folks uh just at carrie sheffield i've also

00:39:45.420 got a sub stack uh would love to welcome you all there in that community

00:39:49.000 carrie thank you very much great piece in the new york post and it was a great uh choice to pick

00:39:55.420 them they miranda devine and emma joe morris were the tip of the spear of getting the hunter

00:39:59.720 biden stuff out so the great new york post thank you very much ma'am honored to have you on here

00:40:03.440 thanks steve okay we're gonna play the cold open for joe we're gonna bring him in after the break

00:40:09.460 let's go ahead and rip on this cold open and joe allen's going to join us on transhumanism

00:40:13.200 right after the commercial break firing line with william f buckley jr

00:40:18.540 uh mr chairman dr timothy leary is the pope of what he chooses to call a new religion

00:40:26.640 i think that the new confrontation with god always uh produces a new form of art now the

00:40:34.720 new form of uh art the new religious language in the future is going to be electronic uh it's going

00:40:40.520 to involve a vocabulary and instrumentation that is just as new to me as the printing press was when

00:40:46.640 gutenberg came along a few hundred years ago and said hey do you know that you can turn on to god

00:40:52.260 with a printed word uh electronics uh is going to be the language of uh theology of the future

00:41:00.020 it may be that we're heading for an orwellian world in which ibm itself will be will have will assume

00:41:05.740 some sort of metaphysical reality but i say that if that happens we will have lost whatever it is

00:41:11.560 that makes civilization take any meaning at all i don't think it's that easy to form new religions

00:41:15.640 well i've been an admirer of alistair crowley i think that uh i'm carrying on much of the work

00:41:20.520 that uh he started uh over 100 years ago and i think the 60s themselves you know crowley said uh

00:41:26.820 do what thou wilt shall be the whole of the law under love it was a very powerful statement

00:41:31.920 i'm sorry he isn't around now to appreciate the glories that he started and a warning from tesla

00:41:36.680 motors ceo elon musk about artificial intelligence which he has called more dangerous than nuclear

00:41:43.280 weapons musk spoke at a symposium at mit i mean with artificial intelligence we are summoning the

00:41:50.120 demon you know you know all those stories where there's the guy with the pentagram and the holy

00:41:55.160 water and he's like yeah you sure you can control the demon then work out i mean it seems to me some

00:42:00.960 time ago that you could sort of think of humanity as a biological bootloader for digital super

00:42:06.620 intelligence well computers actually are already much smarter than than people on so many dimensions we

00:42:12.600 just keep moving the goal posts basically there's just a smaller and smaller corner of what of

00:42:18.520 intellectual pursuits that humans are better than computers and that every year it gets smaller

00:42:25.440 and smaller and and soon we will be far far surpassed in every single way i don't think artificial

00:42:32.780 intelligence is a threat people like us street smart we never scared of that we we think it's a great

00:42:39.460 fun and we want to change ourselves to embrace it i don't know man that's like famous last words

00:42:45.460 that was like chat gpt's blind version of like throwing the ideals at a place where they were

00:42:51.120 exactly the wrong ideals to solve the problem when the problem is that demon summoning is easy and angel

00:42:56.560 summoning is much harder open sourcing all the demon summoning circles is not the correct solution

00:43:01.840 i'm not even using and i'm using elon muck's own terminology here they talk about ai is summoning

00:43:07.100 the demon which you know not accurate but and then the solution was to put a demon summoning circle in

00:43:11.500 every household okay demon summoning and there's an article big article in the media times going back

00:43:17.960 all this up joe allen's going to join us right after the break the dangers of transhumanism and

00:43:24.380 artificial intelligence next in the world a lot of people complain about the state of our country

00:43:32.400 are the way woke corporations treat us and their employees but it's not enough to complain we need

00:43:38.320 to change the way the marketplace works and that starts with you and where you spend your money in

00:43:44.760 less than a year public sq has grown to be the largest platform of patriotic freedom-loving businesses

00:43:51.200 the world has ever seen whether you want to support a restaurant that only buys from local farms a coffee shop

00:43:57.080 that took a stand against covid mandates or a bank that would never counsel you counsel you for your political

00:44:03.460 views public sq is your guide there's also interactive sensor-free community groups where you can connect

00:44:10.980 with other local members here's the best part it's absolutely totally free to join just go to public sq.com

00:44:20.260 that's public sq.com public the word the letters sq.com and download the app today totally free

00:44:31.340 simply create an account and begin your search you can also list your business for free so your local

00:44:38.220 community can start to support you we can't always change the world but we can change how and where we

00:44:45.740 spend our hard-earned dollars begin your search at public square today go to public sq.com that's public

00:44:55.380 sq.com the new social media taking on big tech protecting free speech and canceling cancel culture

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00:45:11.440 no more selling your personal data no more censorship no more cancel culture enough getter has arrived

00:45:19.640 it's time to say what you want the way you want download now

00:45:24.840 okay getter we're up non-stop i can download it and use it that means you can too it's totally

00:45:32.760 absolutely free so go check it out now and you know many of our contributors if not all of them are up

00:45:37.400 there putting up great content the the savage angels are going up live all the time we covered

00:45:42.260 president trump's um uh iowa trip yesterday with you know i think 22 000 people and all types of

00:45:49.300 live chats i i dip in out of these all the time so make sure you get getter mypillow.com we don't get

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00:46:29.460 okay joe allen uh talk to me big blockbuster news in the world of ai what do you got for me

00:46:34.880 steve just going back to that cold open um i think that all of those speakers that we just

00:46:40.780 heard from timothy leary up through elon musk and eliezer yudkowski um it really is reflected in a

00:46:47.060 column that came out in the new york times yesterday a day before yesterday entitled this changes

00:46:52.760 everything from ezra klein and the important part about it is just that metaphor of summoning the demon

00:47:00.600 klein talks about all of these relationships that he has with the people in silicon valley in san

00:47:06.520 francisco and how the ai coders especially the accelerationists talk about what they're doing in

00:47:13.900 terms of summoning demons uh they say that they feel a sort of responsibility to bring this new

00:47:22.120 intelligence into the world and so today steve tons of news in the ai realm the biggest story i would

00:47:30.220 say is the release of gpt4 from open ai so we had of course gpt3 for over a year you had chat gpt which

00:47:41.460 made all the waves gpt4 is an improvement on that large language model produced by open ai so the sorts

00:47:50.680 of benchmarks that we see here on the screen uh they tested the new model gpt4 on the if you just throw

00:47:58.760 that right back up there uh gre verbal which it tested in the 99th percentile uh usa biology olympiads

00:48:09.700 which it tested in the 99th percentile the lsat or the the law uh law school entry exam

00:48:17.360 over 88th percentile and then the uniform bar exam it performed in the 90th percentile and you can see

00:48:28.260 in the graph the improvement in the green of gpt4 over gpt3.5 or chat gpt a couple a couple of the

00:48:39.980 other benchmarks uh accuracy in foreign language uh up from around 70 percent in a whole range of

00:48:47.720 european uh india uh asian languages a whole range going up from 70 percent to 80 percent 85 percent in many cases

00:48:57.700 and the best case and then also i think it's also important to note that uh the factual evaluation

00:49:05.180 which you can see reflected in these tests went up from 60 percent with chat gpt to 80 percent with

00:49:12.060 gpt4 and of course musk chimes in uh today on this he says what will be left for us humans to do

00:49:21.920 we better get a move with neural link so really briefly even closing oh he's pitching he's pitching

00:49:31.700 putting the chip in he's putting chip in everybody is that is is that his is that his pitch joe allen

00:49:38.300 yeah i mean you know he's always said and we heard him there he's always said basically we can expect

00:49:44.020 artificial intelligence to outperform humans on every sort of intellectual scale as that becomes more

00:49:50.280 more of a reality yeah he's using it as an opportunity to pitch linking your brain directly

00:49:56.280 to artificial intelligence via a brain computer interface i think steve of all the things to take

00:50:03.320 from this the psychological impact of artificial intelligence is horrific the social and economic

00:50:09.740 impacts will be huge and people like musk will sweep in to take advantage of it either through his

00:50:16.240 brain computer interface or through other ways well yeah welcome to the headquarters of the luddites

00:50:22.680 right here uh joe we'll have you back on tomorrow to go down in more detail i wanted to get this up

00:50:27.020 make sure everybody knew uh we were covering it real quickly how do folks get to you joe how they follow

00:50:31.620 your writings uh you can find me at joe bot xyz at twitter and getter joebot.xyz and warroom.org

00:50:42.360 under the transhumanism tab thank you very much steve thank you brother by the way go to birchgold.com

00:50:49.000 uh slash bannon get your free the debt uh trap you got to read this your homework assignment next

00:50:55.580 hour julie kelly and cash gonna spend the entire hour with me and go through both j6 and also uh

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Bannon's War Room - March 14, 2023

Episode 2586： The Refusal To Bail Out SVB; The AI Arms Race Ramps Up

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