Bannon's War Room - Episode 2678： The Loss Of Strategic Energy Dominance; Keeping Off Foreign Oil

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

00:00:10.320 these people here's not got a free shot all these networks lying about the people the people have

00:00:16.920 had a belly full of it i know you don't like hearing that i know you try to do everything

00:00:20.680 the world to stop that but you're not going to stop it it's going to happen and where do people

00:00:24.260 like that go to share the big line mega media i wish in my soul i wish that any of these people

00:00:32.080 had a conscience ask yourself what is my task and what is my purpose if that answer is to save my

00:00:40.020 country this country will be saved war room here's your host stephen k band

00:00:54.260 it seems we have to die tomorrow as usual they will poison us with gas

00:01:04.100 what gas sir it'll be fine we can withstand it the problem is boys i don't know what gas they'll use

00:01:12.940 but i think it'll be scary and we have no protection against it is there really no protection against

00:01:19.940 there was only one problem and that was the double-edged sword of chemical warfare it didn't

00:01:35.100 recognize your military colors it killed everyone equally 0.63

00:01:38.320 and when both sides looked at what these new weapons had done they were horrified

00:01:44.400 we are entering a zone of danger we spent 30 or 40 years in the most intense negotiations over

00:01:56.380 arms treaty related to nuclear weapons chemical weapons because of world war one biological weapons

00:02:03.020 with the biological weapons treaty is even not that great to hence the chinese communist party is

00:02:08.420 developing offensive biological weapons on gain of function non-stop and what we know this is the 0.56

00:02:13.680 whole voucher situation this makes that look like child's play and the reason is this

00:02:20.420 engine this thing will actually can be creating its own biological weapons without any ability 0.92

00:02:27.500 to control it well can't you see what i'm trying to say can't you feel the fear i'm feeling today

00:02:37.500 when the button is pushed there's no running away they can solve a protein structure in a matter of

00:02:44.700 seconds how long would it have taken using traditional methods if you think 200 million

00:02:51.240 times five that's a billion years of phd time it would have taken

00:02:54.340 a billion years these are the smartest guys on the planet a billion years

00:03:01.560 he did it they did it in what 10 seconds

00:03:05.960 artificial intelligence in a free society are absolutely and totally incompatible full freaking

00:03:16.720 stop

00:03:17.480 when the world ends go back to that clip right there

00:03:22.880 if you're not scared out of your wits then you're not a sentient being

00:03:27.120 destruction

00:03:31.620 we'll end with a note that you may be hearing often the proceeding was created with 100 percent

00:03:43.340 human content

00:03:44.780 okay welcome friday 21 april year of our alert 2023 that is the great max evans that guy is one of the

00:03:57.880 best videographers i've ever come across exclusive right there it's going to be up on getter

00:04:04.020 momentarily the eve of destruction this is about artificial intelligence i've got my wingman

00:04:08.640 dr peter navar dr peter navar in a full welcome to the sunshine and a full gun show yeah you get

00:04:17.020 that uh wearing black today and uh for the markets uh we're always talking about that thank you sir

00:04:24.660 love that thank you very much that's our that's our chairman that's our chairman rob sigge he's also

00:04:29.620 he also doubles his body man that's pretty cool also the head of the whole network wearing it

00:04:35.200 no this is this is the way you got to do it baby this is this is gonzo we're full he only brought

00:04:40.600 me cake i mean you know okay we got a bunch of stuff to go through on the economy i got i've got

00:04:46.200 i've got navarra i got bratt i got cortez where we get into it but i got a couple of housekeeping

00:04:51.020 things we have to do first i got mike lindell mike brother full-on msnbc last night dancing on your

00:04:59.200 grave about the cyber symposium the five million dollar bet you put up to have anybody prove that

00:05:05.120 the data wasn't 100 accurate uh an arbitration panel i guess ruled yesterday that one of the

00:05:11.560 guys there was able to prove it uh and and i can play clips all from cnn msnbc this guy's writing a

00:05:18.100 book he's making a movie he's all of a sudden the star tell us what the tell us what the uh it sounded

00:05:23.400 like fake news tell us what the reality is well it is the reality it is fake it's the biggest scandal

00:05:29.520 um here i am on a family trip with my grandkids and i'm attacked from all over the country news

00:05:36.960 reporters call me all day isn't it kind of strange this comes out the day after fox settles with

00:05:42.960 dominion well here's reality steve the uh at the cyber symposium there were dozens of cyber experts

00:05:49.740 there including alan duke the facebook fact checkers guy and harry hershey this guy went on tv last night

00:05:56.940 said oh there was all donald trump supporters there no we invited everybody there was it was

00:06:01.720 uh from every democrat republican uh all you know a wide array of people but no none of them

00:06:08.380 none of them said there was anything wrong with the data it was data was all was the challenge was to

00:06:14.020 show the data was from the 2020 election now get this this guy gets to arbitration first he was

00:06:20.680 it was ruled against him the judges after the symposium almost two years ago now and then

00:06:26.680 this guy did or uh he went he brings it up to arbitration says no i he called his wife and said

00:06:32.340 i think i'm going to win five million dollars well he um in front of the arbitrators he they said well

00:06:39.500 open it up and show us what why you think that and he goes well i can't open it so my experts opened

00:06:46.500 it up right there in front of the arbitrators this guy is not a cyber guy i don't even know how he got in

00:06:52.020 there with his credentials he has he's an it guy a computer guy but he's not a cyber guy now you say

00:06:58.920 well why do these guys rule against this well three of the three arbitrators hard left democrats uh we

00:07:06.200 only had a you only get a little pool to choose from i think seven my lawyer said and um and then the

00:07:12.300 guy the lawyer for him was involved with uh it's called blitzware with the evidence of 32 terabytes

00:07:19.400 that i got from dennis montgomery this guy was the lawyer the trustee for blitzware for seven years

00:07:26.540 so this guy knows the data's valid he actually was the one getting the value of blitzware at 32 million

00:07:32.840 dollars or 20 22 million dollars so steve it's all it's it's absolutely to me bizarre uh this is all

00:07:41.040 going to end up in court and i'm going to tell everybody right now everybody's been blowing up my phone

00:07:45.580 this is just a big distraction to get to stop us all from getting rid of these electronic voting

00:07:52.680 machines and we're going to keep going and we're going to get to paper ballots and counting we're

00:07:57.940 never going to stop right okay a couple things number one is this binding arbitration or is it not

00:08:05.500 binding arbitration is is there even a possibility you go to court is it binding arbitration oh yeah

00:08:10.620 absolutely my lawyers are working on that and my phone's been blowing up and going uh you know what

00:08:16.660 are you going to do when you're going to do this well right now it's uh they've got 30 days to make

00:08:21.440 all the decisions that the lawyers would do with the court and uh like i say steve this is uh i believe

00:08:27.240 it's a scandal um the uh symposium we had when we were there we had other people trying to uh they're

00:08:33.920 they're just keep trying to keep this evidence under wraps i want to say though steve we've given

00:08:39.580 the 32 terabytes in the lawsuits with uh smartmatic i believe it's them it's either them or dominion i

00:08:46.200 believe it's smartmatic though uh they uh we we turn that over to them so they've got they've got the

00:08:52.260 data now now but uh you know this is one of the reasons i asked dominion to sue me if you remember

00:08:57.880 because we're trying every angle everybody to get rid of these electronic voting machines

00:09:03.100 in in in the court in the court obviously dennis montgomery is a quite controversial figure but in

00:09:08.720 the court filings have they come back and said because this guy you know this guy completely

00:09:13.820 trashes just a bunch of numbers typed up in the court proceeding have they come back and said this

00:09:18.840 this data is nothing are they are they actually dealing with it as it is real they may question

00:09:25.100 what impact it had but just just on that is the data real or not right that yeah they're they're

00:09:30.560 doing they're actually doing a copy they were surprised it took uh i believe like almost a week

00:09:36.620 to copy these uh 32 terabytes of data and it's very interesting that zelman went on chris hayes last

00:09:44.360 night and said oh there's uh you know there's this massive data if you if there was really that much

00:09:50.640 data it would take a computer a huge computer to copy all that well that's right that's right you're

00:09:57.220 exactly right there zelman the one thing you did say that was truthful uh and as you're gonna write

00:10:02.720 your book and and think you're gonna steal money from uh um and take money that uh um then that you

00:10:10.980 don't deserve you didn't prove anything and it's disgusting one of what what what when when can we see

00:10:19.480 when can we see the you're gonna file i'll take your lawyers are gonna file in the next couple of

00:10:23.000 days to try to go to court and and throw their arbitration out yeah i i don't know if it'll be in

00:10:28.800 the next couple of days um the uh but it's gonna be you have 30 days to do whatever we're gonna be

00:10:34.660 doing but i we're we're looking in to see if this how big of a scandal this is because uh there's too

00:10:41.040 many it's it just smells that you know it doesn't make sense steve when you have all the other

00:10:47.300 almost 100 cyber experts from around the world that were there they all agreed the status from

00:10:53.760 the 2020 election that was the challenge and then here this guy who has no credentials for being a

00:10:59.880 cyber guy i don't even know how he got in the room and he comes out with this and he couldn't even open

00:11:04.920 the data in front of the arbitrator which experts that we had there opened it right up and said here

00:11:10.260 you go now why did these arbitrators make this decision then um i don't know

00:11:15.840 no to no to no no no to your lawyer no no to your lawyers if the guy can't open it i don't think i

00:11:25.360 open it for him but that's that's my own free advice mike where mike where do people where do

00:11:30.620 people uh find out more about this where should they go to find out more about this yeah you guys

00:11:35.680 go to go to frankspeech.com and uh or download the app um we're going to have everything up there

00:11:42.300 all the information posted and and besides that's where the fight is to keep keep on going to get

00:11:48.240 rid of these election uh these uh voting election voting machines these electronic voting machines

00:11:53.660 and get to paper ballots hand counting by the way we got a couple more counties steve going to paper

00:11:59.100 ballots we had another election we're gonna have all that information out there and i just want to say

00:12:04.800 though that uh um you know the timing of this and what these guys are doing you guys and then they

00:12:11.120 go on tv and make a big leak this story got leaked to the washington post and then when i was even

00:12:18.340 attacked at the cyber symposium physically attacked which back then they say oh that didn't really happen

00:12:24.000 now they put out their article and said when mike was poked physically at the you know just poked a

00:12:29.720 little bit by somebody at the cyber symposium i believe this washington post this is such a scandal

00:12:35.460 it goes far and wide and they did it when i'm on a family vacation attacking me right after the fox

00:12:41.820 thing it smells to high heaven and uh but i want to thank all you guys steve uh you're the war room

00:12:47.460 posky for supporting my pillow i know my employees were all worried everybody was all worried and

00:12:52.720 and um they've been great because uh they've been you know we've been they've been making the my pillow

00:12:57.940 2.0 the buy one get one free and i'll throw a plug in the uh we have all these uh the slippers and

00:13:05.040 the percale sheets clearing out at uh at closed out prices using that promo code war room so we're very

00:13:11.220 grateful to your audience for supporting us in these times that we just it seems like it's a never-ending

00:13:16.360 attack to keep these electronic voting machines well it's going to be a company as you know it's

00:13:23.000 going to be a attack all the way i mean it's not going to stop it's going to be relentless and yeah

00:13:27.320 it's there are no coincidences kind of odd it's kind of odd how they how they had it all kind of comes

00:13:33.060 together and all drops in a couple of days in the same week and by the way everybody um you can also

00:13:39.280 go to electioncrimebureau.com we're having our election crime bureau summit on august 16th and 17th

00:13:48.160 in um uh springfield missouri and you're gonna see we're gonna have the plan going forward plus

00:13:55.280 everything that uh um that has happened since last year since we had our big summit last year the moment

00:14:01.800 of truth we have to see we have two years now of evidence validating everything else that we had

00:14:08.460 from before these 32 terabytes we have we have camera angles from every different angle from

00:14:13.380 cast vote records to everything and we the bottom line is we've got to save our country get rid of

00:14:19.240 these electronic voting machines and computers used in our election remember everybody 70 percent of

00:14:25.020 democrats and 80 percent of republicans now believe that our election platforms need to be fixed

00:14:31.000 they need to be fixed and they need to be fixed now

00:14:34.380 mike lindell thank you very much i know you're on a family vacation thanks for stepping out and

00:14:40.100 trying to make this uh a little clearer more clarification thank you brother

00:14:44.120 short break peter navarre dr navarre joins me in the war room short commercial break back in a moment

00:14:51.480 in my younger days i was a naval officer on a destroyer in fact i was the a gang officer

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00:16:21.000 that's ekpure.com code steve ekpure.com code steve steve okay we have good news let's get greg phillips

00:16:35.880 here from true the vote greg uh you guys uh you and katherine engelberg actually got thrown in

00:16:40.920 prison for standing your ground here on uh on true the vote about this company it's a little dicey

00:16:48.360 uh and uh they they i think they filed a defamation suit against you is that suit been dropped sir

00:16:53.920 yes sir uh uh we dropped uh all of this information onto a new uh website that katherine and i launched

00:17:02.280 on monday called open inc on tuesday morning they reached out to our lawyers by wednesday morning

00:17:07.680 the suit was dropped

00:17:08.620 so walk me through that you put up all the information that you guys had that you've been

00:17:14.920 working on and you had the great briefing i think was a summer it was a summer of 21 if i remember you

00:17:20.600 had you had in arizona 22 yeah it was uh august 13th 22

00:17:25.320 august 13th 22 you had the big you had the whole day event in arizona uh temperatures inside

00:17:32.860 were like 100 degrees 110 degrees everybody hung in there they were blown away and then these guys

00:17:39.240 had charges brought against them but they came after you hard and the judge for you guys not

00:17:44.680 not well you stood your ground they put you and katherine in jail for was it 10 days

00:17:49.180 yeah they put us in jail for i think it was eight or nine days and uh strip searched me put us in

00:17:54.800 solitary confinement put katherine in this uh thing called medical solitary which is basically a cell 0.98

00:18:00.460 with a window on it so all the men women everybody walking by the her cell could see her and and uh 1.00

00:18:06.680 basically just put her on display to try to embarrass her humiliate her um but uh you know she always 1.00

00:18:13.000 does she stood up on me they put me in ad seg back with the really bad guys in the medium security

00:18:17.820 prison and uh just left us there for a while and um i tell you steve i mean i'm katherine we

00:18:24.740 got out i tell everybody the story we got out the person katherine did we get in the car with our

00:18:28.900 security team and katherine said you know what i learned in prison and i said i don't care what

00:18:32.620 you learned i want to fight let's go and um and here we are and uh we're happy that it's over and um

00:18:38.580 but you know there was a lot of a lot of concern here right there was some what we believe judicial

00:18:43.180 misconduct uh certainly these uh these uh demon lawyers that were for the other side were were

00:18:49.800 doing things that you know my view they shouldn't have been doing uh and then finally you've got

00:18:54.800 conic sitting out there made a an original complaint that we had uh improperly accessed their

00:19:00.900 computer meaning hacked their computer all of that's been dropped all of it the defamation the

00:19:06.700 hacking claim everything has been dropped and um you know it's time time to fight now

00:19:12.040 what do you say time to fight one of the big concerns is about the servers being in mainland

00:19:18.180 china these guys being associated with the chinese communist party obviously every company in mainland

00:19:22.340 china or associated mainland china is associated with the chinese communist party they have political

00:19:27.620 officers in commissars in everywhere where do you guys go next on this when you say fight where

00:19:32.800 are you going to take it well we're leaving every single option open we're absolutely going to fight

00:19:37.740 against these guys but this this guy's still in trouble out in la um one of the things at that pit

00:19:43.240 meeting uh one of the la prosecuted uh investigators was there at that meeting um he was then arrested and

00:19:50.620 then they dropped it there was a bunch of dust up about all of that but that has been kicked down the

00:19:55.080 road here he's now got a hearing coming up in may um when he was arrested they steve there was i was

00:20:02.780 just listening to mike talk about the whatever it was 12 15 30 terabytes of data they have 300

00:20:08.920 terabytes of data they have every single thing they need to put this guy in jail for the rest of his

00:20:14.360 life all of this election data all of the pii was in mainland china on those servers and they can't get

00:20:23.140 out of this there's no way possibly out of this and uh and i think that as this begins to unfold and

00:20:29.880 some of the things that we know become more public and people recognize that all of the voter rolls

00:20:36.420 were in china all of them in places like pennsylvania it wasn't just allegheny county allegheny

00:20:42.160 county had connected conic to the state's voter rolls and so those were in china and to make matters

00:20:48.960 worse there were several other high profile companies let's say that were connected to directly to the

00:20:56.440 conic database and uh as all of this comes out and all of this unfolds and you know i know mike's

00:21:02.360 going through a lot with this whole situation you know the the stuff about the p caps and all that kind

00:21:07.800 of stuff uh unfortunately for the bad guys uh the war against good and evil has taken decided turn for

00:21:15.260 the good we have all of the goods on this stuff and there's just no way out of it um the la county

00:21:21.360 prosecutors have 300 plus terabytes of data in a locked box or in a storeroom out there and uh it's

00:21:28.300 there's just no way for the guy nowhere for the guys to go but um but this is a nevertheless a huge 0.96

00:21:33.920 victory for for freedom a huge victory for um for the good guys see steve uh that greg you are a friggin 0.72

00:21:45.720 warrior patriot hero but can you here's the thing can you imagine if fox news corporation the day that

00:21:53.240 that that lawsuit against them got dropped instead of turning tail and running had hired greg phillips

00:22:02.840 yep to investigate this because steve the one thing the one thing that that all fox would have had to do

00:22:09.920 was demonstrate there was issues with voting machines that's all he would have to do this

00:22:16.440 guy's got how many terabytes greg do you have can you imagine steve yeah oh this and this is like

00:22:22.460 you got like you got lindell you got phillips here you got fox but hang on i want i could have been

00:22:28.300 intertwined i want to frame this right because i don't want the fox thing is the murdochs and the

00:22:32.160 murdochs you know they got their own association you know why they didn't do it exactly i want

00:22:37.300 everybody to understand something about katherine engelbrecht and greg phillips who are two patriots

00:22:41.620 and warriors they basically find that the chinese communist parties and people associated with the

00:22:47.920 chinese communist party have literally every piece of data related to workers voting roles people who

00:22:55.540 volunteer workers they have everything on servers in china and tell me what happens greg phillips and

00:23:03.040 katherine engelbrecht two of the most upstanding straight arrows i've ever met are put in prison 0.85

00:23:08.540 they tried to break them they put them in prison for what eight nine ten days put them in solitary

00:23:13.520 put him in thing they tried to break them this is the u.s justice system once again standing up for

00:23:19.740 the chinese communist party that's what i keep saying if you look around anywhere they're taking

00:23:23.840 the side of the ccp greg am i wrong in that i mean you guys basically found and this is when you guys

00:23:28.860 went to the pit in that 110 degree temperature people are laughing look at these crazies down

00:23:32.680 there everything you guys rolled out everything those patriots sat there all day in arizona and

00:23:38.220 that blistering heat has all come to be true and yet you had to go they wanted to break phillips

00:23:45.420 and engelbrecht and they could not be broken if they had not been broken and this is the scandal

00:23:49.680 it's not foxes it's not even the machines there's something deeply wrong about this and it's deeply

00:23:55.200 wrong about the infiltration in the fifth column that's in this nation part of the corporate media

00:24:00.100 here steve i mean lindell gets pulled away from a vacation and and cnn msa they're all over this

00:24:06.780 right i'll bet you a lot of money they're not covering this 100 they're not the only great talk

00:24:12.500 about that where you and katherine uh is this should be everywhere is this being covered uh properly because

00:24:18.720 when they dropped the defamation they dropped the hacking they dropped everything basically saying

00:24:22.920 you guys were you guys were accurate there's no there's no case there is this being covered

00:24:27.920 everywhere no sir you're the first one to cover it uh there's been a couple of articles written 1819

00:24:33.760 news in alabama i think uh georgia they covered it a little bit but the media itself hasn't covered

00:24:39.360 any of this in fact to make it even worse uh our pr team tried to push this press release we had a

00:24:45.260 press release we were trying to push out yesterday trying to push it out onto a service called pr web

00:24:50.080 pr web themselves stopped the release saying they didn't like the way that our lawyer our lawyers

00:24:57.080 had worded the release how could this be i mean where are we guys this is 1984

00:25:02.740 yeah i had personal experience with that i was trying to use pr newswire this is why they won't

00:25:09.960 publish anything the taproot of this whole freaking thing steve is the corporate media yeah which does

00:25:15.780 not give us fact and news anymore yeah they give us the propaganda and the problem is that all of

00:25:22.020 the corporate media is funded by big pharma and the corporations want to take our jobs away we're

00:25:27.660 all in business with ccp who hate donald trump for saying that the friggin emperor has no clothes 0.91

00:25:33.840 and and again these people are warriors they have the keys keys to unlock all of this and nobody's

00:25:41.260 covered that that's the question greg where are you and katherine you guys are tough as boot leather

00:25:46.420 where do you go next and how can the war room help you get the message out what's the next step here

00:25:51.180 because this one is explosive and trust me the ccp is not they know they got exposure on this 0.85

00:25:57.460 we're we're dropping all sorts of bombs onto open ink we created open ink so that we could avoid the

00:26:03.980 mainstream media we could avoid google we could avoid bing it's an index search engine with special

00:26:09.420 collections of data of video of audio and we're just going to keep pounding them until until they gag

00:26:15.300 okay let's get that make sure we link to that in all the sites greg what's also you got opening any

00:26:22.040 social media you and katherine that we can follow this on a minute by minute basis yes sir uh katherine

00:26:28.860 true the vote.org is her website um uh at true the vote on um on uh i think both twitter and on true

00:26:36.900 social um i have patriot games it's a uh a podcast and then uh katherine and i have something new we're

00:26:43.640 about to launch uh called onward onward.social it's going to be super fun we're going to be uh

00:26:49.020 we're going to be pushing that around but open ink is the place to be right now and uh we're going to

00:26:54.380 open we're going to shove this yeah open dot ink i-n-k 0.83

00:26:58.480 uh when you get ready to launch a new thing come back by the way greg i knew you back in the old

00:27:04.200 days before the this is that is that why people didn't mess with you in prison i mean dude good

00:27:09.980 god don't phillips is scaring me man i mean he's only five foot one inch you don't you don't look

00:27:18.200 like a guy the camera makes you bigger say hi to katherine you're you're a hero and a patriot brother

00:27:24.920 we got your back yeah thank you steve thank you so much you guys appreciate it amazing thanks man

00:27:30.640 we've all been in lane we've been chained up like dogs too the uh not in a texas state prison though

00:27:37.460 but only steve and i are sanctioned by the communist chinese communist party four seconds

00:27:43.100 into the bible you got 30 seconds tell me the ccp we're gonna go out with take down the ccp they're 1.00

00:27:47.580 everywhere you got fifth columns everywhere for 20 years steve i've been talking about how they get

00:27:53.200 all our data it's a thousand grains of sand they know everything about every one of us right

00:27:57.760 and and you know from tick tock on down it's just the the beat goes on but those folks are warriors

00:28:05.480 they're heroes patriots and they're gonna they're gonna help us break the log jam big time they're

00:28:09.700 not gonna back down greg and and katherine engelbrook they're they're they're they're they're hardcore

00:28:14.320 okay short break we got navarro we got bratt we got cortez we're gonna walk through the world of

00:28:21.000 the economy this vote in the debt ceiling at capital markets all next

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00:29:54.060 one more fed rate hike and then they're done and by the end of this year we're going to see fed cuts

00:30:04.180 you don't think that's the case well speaking of rhyming i think every kind of investor tries to rhyme

00:30:09.660 their world view with whatever data they can find and there's plenty of data to support either

00:30:14.540 either view and i think that's really just the point is that it's a much more nuanced discussion

00:30:19.360 than the reductive narrative that's dominating today which is that we're heading for a slowdown

00:30:24.460 and depending on who you're listening to a severe one or a milder one but the fed is going to cut

00:30:29.540 hundreds of basis points and therefore you should own interest rate risk here or duration lots of

00:30:34.060 duration here and that of course conveniently ignores the fact that inflation is still uncomfortably high

00:30:38.900 not just here in the u.s but also across the pond europe is still running very very high inflation

00:30:44.580 levels their core actually moved up in march and uh the uk is at 10.3 which is a record frankly for

00:30:51.060 them so inflation remains very much an issue and we know that as goes inflation so goes the correlation

00:30:58.440 between stocks and bonds meaning when inflation is high that correlation is positive because the fed's

00:31:03.740 hands are tied to deliver the kinds of cuts that make bonds really that sort of port in the storm for

00:31:09.860 portfolios so i think um yes we could potentially be headed for a stagflationary scenario and that's

00:31:15.640 not really a narrative that's out there and i think investors have to contend with it is is that your

00:31:19.980 most likely base cases or is that just okay hold it right there because i'm gonna come back to that

00:31:26.840 uh uh guys no finally two two years after uh after uh navarro cortez the brat or stagflation

00:31:37.760 have been his terror philipatric now jp morgan is with the program on corporate uh business media

00:31:43.940 uh navarro i'm gonna start with you i've got dave bratt i've got uh steve cortez i'm getting this

00:31:48.720 because this is everything right now cnbc is pathetic i mean they're cheerleaders uh for wall street what

00:31:55.300 they try to do steve is is the big money the smart money wants all the little money to keep their 0.96

00:32:01.200 money on the long side of the markets while they get out and you know it's like crazy here's the

00:32:06.780 here's the reality steve we've got we've got three things going here we've got first of all corporate

00:32:13.300 earnings are being squeezed by inflation and when corporate earnings get squeezed by inflation that's

00:32:21.280 going to drive stock prices down so that that's the reality of the markets you're dealing with

00:32:25.480 because input input prices are higher and they can only raise the output they only raise the output

00:32:30.960 and stock prices are simply an expectation of a future stream of earnings so when when corporate

00:32:35.660 earnings are coming in now a lot of them are mixed what they're doing is they're getting eroded

00:32:40.360 by inflation and by the way uh productivity is crashing you'll have something to say about that

00:32:47.000 shortly um and what that does is it it's inflationary it drives up cost now the second thing and it's

00:32:54.520 related to why profits are being squeezed is we've gone from strategic energy dominance under donald trump

00:33:01.300 to strategic energy subservience under biden instead of having what was average of about 60

00:33:08.160 barrel oil through the four years of the trump administration we're going somewhere to between

00:33:14.080 80 that's it's a 33 increase alone there to a hundred dollars because saudi arabia and russia

00:33:22.160 are now calling the strategic energy subservience shots saudi needs 80 bucks a barrel to pay its

00:33:29.380 government bills russia needs it to fund it right now the third thing and i'm going to hold it also also

00:33:34.640 we'll get back to this later the price is going up because we're devaluing the dollar with the massive

00:33:38.540 deficits these guys are not dumb they all went to harvard they all went to they know that

00:33:43.600 we're dividing the dollar why should they be giving us all at the old number and we can have a whole

00:33:47.800 conversation about how the loss of strategic energy dominance is also leading to the to the

00:33:53.900 de-dollarization but the third thing is that that we've got global strategists now on on the cnbc's and fox

00:34:02.180 businesses this world egging the fed on to crush the economy so you can squeeze out inflation and that's a

00:34:10.420 pure stagflation scenario the problem that we've talked about many times steve is you can't solve

00:34:16.640 stagflation which is two problems inflation and recession with keynesian tools keynesian tools

00:34:23.080 the federal reserve or fiscal policy can only do it one at a time for example with the fed if you've got

00:34:30.960 a recession you lower interest rates to spur the economy if you got inflation you raise them but but if

00:34:38.440 you've got inflation and you raise them like the fed's doing what does that do it makes the recession

00:34:42.600 worse so let me let me let me the answer is structural structural structural right you got

00:34:49.480 to get strategic energy dominance first and then you have the low tax environment the low regulatory

00:34:54.940 environment you bring your supply chains home okay get the trade all that problem you have resilient

00:35:00.340 supply chain monetary policy alone can't can't that's exactly right nobody seems to understand that

00:35:05.920 um yet all you have to do is read the history books of the 1970s stagflation and you watch guys like

00:35:13.000 gerald ford with his whip inflation now when when to send us back into recession they panic and you know

00:35:19.640 arthur burns was like just stimulating the money supply and you you can't you we have a government at war

00:35:28.060 with itself the the congress and executive branch is going to be at war with the federal reserve

00:35:33.700 because every time the fed tries to solve inflation it's cause a recession politically that doesn't

00:35:39.060 fly uh cortez let me bring you in you you've got some uh charts about manufacturing i think that

00:35:45.500 show the manifestation of what uh of what peter navarre is talking about can you walk us through that

00:35:49.400 yeah sure do uh look the unfortunate trend intensifies to the downside meaning things aren't

00:35:55.820 just bad they are bad and worsening hence the importance of urgency a sense of urgency right now

00:36:01.220 particularly for the house republicans philadelphia fed manufacturing survey released this week and

00:36:07.040 it's pretty dreadful let me show you let's go to chart number one please uh this is the philly fed

00:36:12.080 manufacturing index for this year as you can see going back one year the trend is decidedly

00:36:19.060 downward almost all negative numbers 10 of the last 12 months negative uh hitting minus 31 right now

00:36:26.680 now what does that mean in context where people don't watch this closely let's please go to chart

00:36:30.480 number two and i'm going to give you now 10 years of history on this so this will give you a lot of

00:36:34.700 context on the philadelphia fed manufacturing index the vast majority of the time it is positive it is

00:36:39.640 above zero you can see that on that chart that goes back a decade took a massive dip not surprisingly

00:36:45.380 during the lockdowns but snapped back just as quickly with the trump boom 2.0 and actually then

00:36:52.000 printed shortly after that an all-time high for philly fed manufacturing what has happened since

00:36:57.580 then and i highlight biden taking office it has been in a continual and pronounced slide downward so

00:37:04.960 steve not my opinion not peter navarro's not steve bannon's opinion this is the reality on the ground

00:37:10.800 of indices that go back decades we continue to hit more and more dismal records every single day so the

00:37:20.000 economy isn't just bad it is bad and worsening as evidenced by that chart on manufacturing

00:37:26.180 and this gets back to your structural regulatory structural trade all that that you can't this

00:37:33.020 just not right now we have a fiscal domination we have this and we're going to get bright in here

00:37:37.220 this insanity on the spending you've got the monetary policy but there's also something deeper going on

00:37:42.460 here well the the something deeper is that structurally our economy is falling apart part of it is this

00:37:51.280 supply chain lack of resiliency we got in a situation where the corporations love to offshore all our jobs

00:37:59.160 all the way around the world chasing the sweat sweatshops and pollution havens of the world and then when 0.96

00:38:05.540 the pandemic hit it it it basically just eroded that whole construct and rather than see that coming

00:38:13.460 and i was in the white house steve and i'm in 2020 may of 2020 i'm i'm warning in memos to meadows and

00:38:20.460 the president it's like stagflation is coming if we don't do a manhattan project to bring our manufacturing

00:38:28.520 supply chains home that's the the one the one root evil but the other is the loss of the strategic

00:38:35.580 energy dominance i can't stress that more steve we were in a situation which i never believed possible

00:38:42.760 because early in my career i was like an energy guy trying to figure out how to get out foreign oil i

00:38:47.340 never figured we could do that trump does it we become the world's leading producer in an oil not not

00:38:53.540 not independence which we talked about in the in the 70s and 80s full spectrum energy 1.00

00:38:58.400 dominance we had it it's a core had it in our hand and how this freaking idiot biden in the white 0.99

00:39:05.620 house can come on day one i mean one of the first orders executive orders i helped draft was the 0.99

00:39:11.760 keystone pipeline one and it was two parts it was like yeah that's going to get approved and yeah it's

00:39:17.460 going to be american iron and steel in the damn thing right and biden biden does he undoes that 0.53

00:39:23.760 he done does any leasing on oil no on federal but it's deeper it's the centerpiece is to radically 0.74

00:39:29.880 change the economy away from and from our energy resources and dominance and led by the electric

00:39:36.320 fear we're going to have jeff clark on tomorrow's show and sorry show yeah walking through the new

00:39:40.320 mandates and regulations they're talking off the clean air act to basically outlaw the the internal

00:39:45.440 combustion engine and gas powered cars and i mean by 2026 on the manufacturing and it's going to be the

00:39:51.280 world according to tesla in china not in the united states and xi jinping right they're gonna they're

00:39:57.280 gonna dominate china communist china is going to dominate the scene the lithium battery production 0.95

00:40:03.860 which is effectively the gasoline of those things big time production of those but with with elon musk

00:40:10.180 hang on one second could they just announce building the mega battery factor over there too

00:40:13.880 price cut steve it's like the price cut war that that musk is doing now he's gonna put gm and ford out 0.99

00:40:21.820 of business on u.s soil and all the subsidies well he's only gonna do it he's only gonna do it if we

00:40:26.480 continue to subsidize that madness because he's got to be subsidized but who's gonna only trump can stop

00:40:31.600 it yeah i mean that's the whole point that's what 2024 is about cortez let me answer about that is is

00:40:37.540 is there any way out of here i got the manufacturing czar sitting right with me from the white house is

00:40:43.320 there any way out of here in your mind until we turn around the manufacturing situation and that

00:40:48.400 is predicated upon getting the energy policy right and the bid in the ask on energy couldn't be farther

00:40:54.200 apart right the white house has a radical radical and not just radical unwork even if you believe the

00:41:01.060 the the underpinnings of it you couldn't execute on it in decades is can we turn this economy around

00:41:07.320 for you turn around manufacturing no i mean to answer that question first absolutely not uh we have to

00:41:12.760 have plentiful cheap reliable domestic energy we had it very recently a few years ago we can

00:41:18.460 absolutely have it again if we have the political policy will to have it again but to your point too

00:41:24.020 uh and by the way to trade also critical there so i would say those are the two major components

00:41:28.200 to a true lasting u.s energy excuse me manufacturing renaissance is we have to get our energy policy right

00:41:34.640 and then toughness in trade if we get those two things on shoring with domestic affordable energy

00:41:40.460 here we will again dominate the world in manufacturing and value-added high production

00:41:46.200 manufacturing and but just to that point when i talk about the divide just one second steve

00:41:52.080 steve can you hear me steve just one thing on that when i talk about bringing our supply chains

00:41:58.860 and manufacturing home the two ways that trump did it was the tough tariffs the t-word and the buy

00:42:05.680 american higher american policies those were the those were the twin pincer moves to bring that home

00:42:10.760 anyway go but that's when i talk about it in manufacturing here and supply chains here i'm

00:42:16.120 talking trump policy structural policies tariffs to level the playing field buy american higher american

00:42:22.300 to keep that stuff here go ahead steve yeah so regarding the the politics on energy steve because i think

00:42:27.080 you make an important point here uh about just how wide the divide is here politically i mean it's not

00:42:32.020 just a gap it is a chasm it is a grand canyon size political chasm between where we are and energy

00:42:38.000 and where the leftists are with their radical green new deal agenda i would argue it's an unbridgeable

00:42:43.720 gap okay it is there is no way to reconcile these two positions it's sort of like it's the economic

00:42:49.660 version of where we stand on sex and gender issues right there's just there's no way to reconcile

00:42:54.100 here's my point one side has to win okay one side will win it has to be our side because if their

00:43:00.220 side wins regarding energy with their green new deal nonsense it will permanently impoverish the

00:43:06.900 middle and lower classes we won't have a middle class it will send the middle class into the lower 0.97

00:43:10.400 classes and the lower classes will remain permanently impoverished in this country but my point is there's 0.99

00:43:15.780 no reconciling with the green new deal folks and our energy stance we have to win by the way this is

00:43:22.080 when you talk about other candidates uh you know we've gone through this exercise before this is about

00:43:28.420 tariffs this is about full spectrum energy dominance we don't have time for ojt on the job training

00:43:33.180 this is a war it's a political war and we're absolutely correct there's no middle ground here

00:43:38.540 on so many of the topics but particularly the economy we're gonna get into it we're gonna talk

00:43:42.300 about the debt ceiling uh negotiations the fight is going to be a rolling gun fight for a long time

00:43:48.200 to come but we're gonna lay down the markers here in a moment i don't know about you it takes a lot

00:43:53.880 to shock me these days but to see our judicial system resemble a third world banana republic to 0.52

00:44:00.160 see trusted american companies embrace insane and destructive woke ideologies is frankly depressing

00:44:06.020 we must fight back and that starts with changing the way we spend our money for years big mobile

00:44:12.140 companies have been dumping millions into leftist causes and we had to take it because there was not

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00:45:43.900 marketplace of ideas the platform for independent thought has arrived superior technology no more selling

00:45:50.420 your personal data no more censorship no more cancel culture enough getter has arrived it's time to say

00:45:59.180 what you want the way you want download now

00:46:02.860 okay uh welcome back by the way we're putting up stuff on getter all day long if you want to get

00:46:09.020 show prep the show prep you know we go to citizens free press we go to gateway punt these are fabulous

00:46:13.980 but i also put everything up all the interesting things with my analysis on getter so go check it

00:46:18.140 out navarro's up there cortez is up there everybody's up there although cortez is kind of

00:46:23.700 wander he's acceptable now to twitter so he's over there twitter he and mike he and mike davis he and my two

00:46:28.260 brothers even though he got steve on getter no i know what are you talking about he's the king of

00:46:33.960 the the getter i know i'm like steve bannon right there's cortez okay right now ladies and gentlemen

00:46:40.900 you are the creditors committee it all rests on your shoulders whatever way you say this is going to

00:46:45.480 happen it's going to happen because we know we can get the votes at least a blocking uh vote i want to

00:46:51.760 start with brad and just because look brad we're the dead enders and we understand that somebody's got

00:46:57.420 to be where the deners not one penny increase to the death ceiling full stop okay we do the

00:47:03.800 prioritization of payments and we figure this thing out but no there's no relief none zero because we

00:47:09.340 can make this thing work walk me through though and i want to give a hat tip to speaker mccarthy

00:47:14.580 his job is very different than the job here in the war room his job is to try to wrangle you know

00:47:20.320 he's got he's trying to wrangle cats right now um to get to 218 he needs 218 so his job's different

00:47:26.840 but i want to make sure brett walk through we've had russ vote and the guys on here the balanced

00:47:31.500 budgets guys we've had richard was a stern from heritage we've had vote all these guys and they're

00:47:35.840 great and they look over these 10-year budgets and they're talking 10 trillion dollars 17 trillion

00:47:39.820 dollars everything we're saying focus on the first couple of years give me some big cuts and give

00:47:44.680 it to us now but what they're talking about i want you to walk through i think you've got the best

00:47:48.960 analysis of what this really proposal on the table is sir yeah well the the breaking news out of the

00:47:56.700 freedom caucus and and the and the folks who fight hard up there you know are putting pressure on

00:48:02.260 mccarthy is just four trillion off and that sounds big uh but the biden administration is walking around

00:48:08.480 and saying minus three which is you know fictional uh but this is over a 10-year horizon and so cbo

00:48:14.800 has debt scored at 50 trillion dollars no one seems to get that number through their head

00:48:20.440 at a five percent interest rate interest payments on the debt will be two and a half trillion dollars a

00:48:27.300 year just in interest payments that's three times the defense budget so that cannot happen and so the

00:48:33.740 freedom caucus uh you know russ vote was knocking about 17 or 18 trillion off over a 10-year window

00:48:41.160 which roughly breaks us even and keeps us at only a 32 trillion dollar debt the current amount of debt

00:48:48.600 right which is over 100 gdp and so we're already in scary territory on economic grounds and then

00:48:55.560 peter and steve just put on a brilliant you know presentation and the fed is walking a tightrope i think

00:49:01.520 they're actually at war with the treasury a little bit uh because the fed uh doesn't want high inflation

00:49:07.640 right because it cannot pay five percent on 50 trillion dollars but on the other hand it does

00:49:14.000 want high inflation because it's the only way to pay off the debt so how do you get around that puzzle

00:49:19.760 well maybe they just try to crush like the the economy like uh peter said right create stagflation and

00:49:26.200 then construct a pretty heavy duty recession and then somehow miraculously hope to get low interest rates

00:49:33.120 and then get back to higher inflation and so there's no way out of this productivity is the key

00:49:38.420 i've been showing you charts on that robert gordon at uh northwestern is the best in the country everybody

00:49:43.400 ought to look him up but it's been 40 years decline that is the economy used to be three four percent

00:49:48.880 now it's under one percent and that that we could have a lost decade like japan has had uh when they

00:49:55.580 screwed up and got the government in bed with the uh with the banking sector and now what we're just

00:50:01.040 facing a terrible scenario ahead and so the war room needs to keep pressure on these folks 46 trillion

00:50:07.820 in 10 years is still too much debt we cannot live under that and so they need to have a voter rama

00:50:13.740 and kevin mccarthy's doing way better but he needs to put pressure and expose everybody to the sunlight

00:50:19.860 let's have them go around the horn in public and vote on 46 trillion in debt really and we'll see how that

00:50:26.620 goes this is by the way so this is what gates has been saying because there's so many things out

00:50:32.340 there you just got to get them up and let's have them argue it on the floor like they did in the first

00:50:36.180 week remember that argument galvanized the nation and that was really about process and procedure

00:50:41.160 this is going to be about programs and money and and whose ox is getting gored it would be dramatic

00:50:47.340 it would be intense and we have to do it because right now even what they're talking about the tree and a

00:50:52.140 half lift we're in the same place next spring and my point is guys just tell me how you pay for this

00:50:58.660 because the only way you pay for it is cranking out more fiat money from the fed and what happens is

00:51:04.200 that the inflation goes up not just that the rest of the world cortez jump in here the rest of the world's

00:51:09.080 going to a gold standard you've had all time uh we're going to have philip patrick on tomorrow he's

00:51:14.660 going to walk through the central bank's all-time purchases of gold all-time high in 2022 2023

00:51:21.140 higher the bricks that own the resources that have the oil in the gas and the rubber in the tin

00:51:28.460 in the copper right are looking at a rolling devaluation by the federal reserve because of

00:51:33.040 the proficiency of the united states and the lack of discipline of our political elites and they're

00:51:38.500 sitting there going hey i'm not going to take a federal reserve note i'm gonna i'm gonna basically

00:51:41.860 have a gold backed like the ruble that we didn't crush we didn't end up crushing uh

00:51:46.860 putin because he pegged the ruble to the dollar and the ruble went to all-time highs

00:51:51.480 cortez give me a minute of that before we go to break yeah steve you make an important point here

00:51:55.640 and i hear this often from critics who are saying wait a second the dollar is doing fine against

00:51:59.380 euro currency or chinese yuan and that's true by the way because nobody wants yuan and in many ways

00:52:04.140 europe is worse off than the united states the point is the dollar has significantly devalued against

00:52:09.180 resources against farmland in the united states against agricultural commodities against crude oil which

00:52:15.240 is eighty dollars a barrel it was forty dollars when biden took office so the dollar to your point

00:52:19.340 is absolutely devaluing against tangible goods and that makes every single american poorer every

00:52:27.220 single day so dollar devaluation is a fact it's just right now not against other fiat currencies but i

00:52:33.620 fear that could unfold at some point as well but it's already devaluing against the goods that you need

00:52:38.860 to live your life the staples of life um and and the tangible resources things like land and

00:52:43.840 particularly farmland this is this is the central thing that's why you got to go to burst gold right

00:52:49.240 now and get the end of the dollar empire remember cortez had that great piece the end of king dollar

00:52:54.260 we took it we went to the end of the dollar empire and the last one we've got is the debt trap

00:52:58.960 ripped from today's headlines although we wrote it philip patrick myself wrote it a couple of months ago

00:53:03.900 but you've got to immerse yourself to understand the debate the great thing the war room's doing i got

00:53:07.820 cortez i got navarro i got bratt we have philip patrick others is we're adding in the world and

00:53:13.700 reality of resources as you talk about that you can't just talk about the debt fight in the

00:53:18.960 spending fight here not in context of the global economy okay maga knows that the deplorables know

00:53:25.940 that america first knows that we're not rubes we're the anti-rubes the rubes are on cnbc short break

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Bannon's War Room - April 21, 2023

Episode 2678： The Loss Of Strategic Energy Dominance; Keeping Off Foreign Oil

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