Episode 2963: Your Pension Funds Are Funding The CCP
Episode Stats
Words per Minute
159.49905
Summary
In this episode of War Room, we talk about the current state of affairs in the real estate and property markets in China and discuss the President's Executive Order on curbing Chinese investment in the United States. We also discuss China's economic slowdown and the impact this is having on the country's real estate sector.
Transcript
00:00:00.000
this is the primal scream of a dying regime pray for our enemies because we're going medieval on
00:00:11.020
these people here's not got a free shot all these networks lying about the people the people have
00:00:17.620
had a belly full of it i know you don't like hearing that i know you try to do everything
00:00:21.380
the world to stop that but you're not going to stop it it's going to happen and where do people
00:00:24.960
like that go to share the big line mega media i wish in my soul i wish that any of these people
00:00:32.780
had a conscience ask yourself what is my task and what is my purpose if that answer is to save my
00:00:40.720
country this country will be saved war room here's your host stephen k bann
00:00:47.940
hey joe well i'm at one of the many properties of embattled property giant evergrande and the
00:00:59.160
residents here are very worried about the all this negative news potentially impacting the prices of
00:01:06.080
their properties even in the big city like beijing today there was even more bad news when evergrande
00:01:13.120
had filed for protection from creditors in a new york court the company says that is applied under
00:01:19.240
chapter 15 which says that non-us companies undergoing a restructuring can be safeguarded
00:01:25.640
from creditors who might be looking to sue them or tie up their assets in the united states evergrande
00:01:32.160
says that it's restructuring talks in that are underway in hong kong the british virgin islands as well as
00:01:39.080
the cayman islands should be recognized in a restructuring hearing on september 20th now the
00:01:45.900
news of this filing had hit stock prices in asia people were really concerned and so the evergrande
00:01:53.800
late in the day clarified that to the hong kong exchange that this is a technical move saying that
00:02:00.140
the application is a normal procedure for the offshore debt restructuring and does not involve
00:02:06.300
bankruptcy petition there is a lot of concern and sensitivity right now about the real estate sector
00:02:13.060
and then evergrande also was hit by some other news which is that the domestic property arm confirmed
00:02:21.520
that chinese regulators are investigating it for what they described as a breach of disclosure rules and
00:02:29.000
local media say that the probe is for suspected data manipulation now adding further to the gloom
00:02:34.880
the mid-sized commercial developer soho china which recently had been a target for possible investment
00:02:44.040
and takeover by blackstone had flagged its profits they said that they fell 93 percent in the first half
00:02:52.020
of the year due to uncertainty and there has been a ton of uncertainty these days in the real estate sector
00:02:58.900
our country's going to hell and we're not going to be the big bar we have power but it's waning
00:03:04.340
in fact it's waning in terms of our currency and i'm not just talking about the value of our currency
00:03:10.140
i'm talking about our currency being used throughout the world you want it to remain you want the dollar
00:03:15.140
to remain the world's reserve currency well i think it's bigger than losing any war i think if it doesn't
00:03:20.340
look we are already reverting to third world status in many ways you look at our airports you look at
00:03:26.880
our terminals you look at our filthy roads and broken roads and everything else we're like a third world
00:03:32.440
country we have something that's very powerful and that's our dollar all over but you take a look at
00:03:39.520
what's happening to it now with other countries not using it and you know china wants to replace it
00:03:44.320
with the one and it was unthinkable with us unthinkable would never have happened now people
00:03:52.460
are thinking about it that could happen would you have liked for the eo to have done sure well first
00:03:58.420
credit where credit is due the executive order does take an important step in the right direction but
00:04:03.640
if we want to stop fueling our own destruction i don't think that it can be the last step right now
00:04:09.240
americans usually unwittingly are funding the people's liberation army paying for things like
00:04:15.140
aircraft carriers stealth fighter jets artillery shells and facilitating a mass surveillance and
00:04:20.940
oppression of the chinese people and i don't think that any honest analysis of the executive order
00:04:26.280
suggests it would stop that it gives the treasury department the lead it gives treasury more off ramps
00:04:31.600
than the new jersey turnpike and if you listen to what treasury secretary janet yellen has said
00:04:35.760
i'm confident she'll take every single one of those off ramps and worst of all the bulk of the
00:04:40.480
national security threat and the vast majority of american investment into china remain untouched by
00:04:46.720
the executive order we need to restrict public market investments into chinese firms collaborating
00:04:51.600
with the pla or complicit in the ccp's human rights abuses whereas this tackles a narrow subset of private
00:04:59.280
investments i think the bottom line from my perspective is that the ccp is an adversary and you don't
00:05:04.880
defeat an adversary or deter an adversary by shoveling billions of dollars into their military
00:05:10.400
and technology program and we have to ask ourselves if we want the pension fund the overall retirement
00:05:16.800
health of millions of americans to be dependent on the success of investing in things like aircraft
00:05:22.720
carriers artillery shells and fighter jets so i hope we tackle this from a congressional perspective i hope we
00:05:28.960
legislate an enduring solution that endures across different administrations and also by the way
00:05:34.160
provide certainty to the financial business community who may not want to go in as aggressive a
00:05:39.680
direction as i want to go but need a glide path need that certainty don't want to ping pong back and
00:05:44.240
forth between different presidencies and different executive orders so you you have like you're going down
00:05:50.880
the list so you don't think endowments at universities should you don't think tax-exempt entities should be
00:05:57.280
financing the ccp you singled out black rock or congress did black rock and msci what why those
00:06:03.760
two boy there's a target on black rock they can't do anything right well i mean there's obviously black
00:06:10.560
rock is one of the biggest players in the game and we're really trying to understand how these uh
00:06:16.960
companies uh how these entities uh particularly on the passive side of things when you're dealing with etfs
00:06:22.880
and indexes how they think about this why they would have certain blacklisted companies in their
00:06:29.600
index um in order to gather information that would inform sensible legislation so we're still in the
00:06:35.680
beginning stages of this investigation we'll have to see where it takes us and we want to get answers
00:06:40.480
from msci and black rock we know that black rock in particular is advocated for greater u.s investments
00:06:45.920
into chinese companies we've also heard from hearing witnesses under oath that it offered funds that
00:06:50.880
included pla contractors and other concerning companies from our perspective we don't think
00:06:56.000
black rock or msci should funnel american dollars into certain companies like this and we need to
00:07:00.880
close the loopholes and at a minimum ensure americans are not knowingly or unknowingly funding the chinese
00:07:06.800
communist party so again that's what this investigation is about that's what our analysis of the executive
00:07:12.400
order it's about it's about figuring out what is the best legislative approach to putting guard
00:07:17.440
rails on outbound capital flows so we aren't knowingly funding our own destruction or abetting
00:07:23.600
egregious human rights abuses that's the principle i'll concede it's very difficult to put into practice
00:07:29.440
but that's why we're doing a very deliberate investigation with an eye towards informing
00:07:33.280
legislation let's try an experiment we've actually got some charts and graphs to show the points that
00:07:39.280
you've been making so to your point the cpi overall the level is up 17 yeah now 30 months into it biden's
00:07:49.760
inflation rate 7.4 percent at an annual rate yours less than two percent 1.9 percent it's actually a
00:07:58.160
perfect number to you know if you're a student of inflation right you know how it's but literally
00:08:04.080
two percent is the perfect number they actually don't want it to be zero yeah they want it to be
00:08:08.800
two percent and we hit two percent if you think one point nine percent and by the way i love your
00:08:13.360
commentary but look at this grocery prices food at home the level is up twenty percent under your
00:08:20.000
administration two percent again and then finally on gasoline uh biden's back to 387 that's this week
00:08:29.040
going up yours was around two dollars a gallon actually that's right this is the stuff that's
00:08:33.760
driving people crazy let's go to the second one okay he says he's created um 13 million new jobs nobody
00:08:41.280
can find it yeah okay 2.1 million you had 4.9 million right he says he's created 800 000 manufacturing jobs
00:08:50.720
no one can find them i mean it's maybe recovery from covet but that's all you had more than twice as
00:08:56.720
many and then the other thing in terms of people hurting and living uh paycheck to paycheck the
00:09:02.480
mortgage rate has jumped from two point six five percent to seven and a half percent 751 that is
00:09:10.320
killing people and i don't know that anyone's interviewed a president before and done all these
00:09:15.760
numbers but you know i know you like to do the numbers and this is the story there was a trump boom
00:09:27.440
friday 18 august share of our lord 2023 this is the uh the framing of um of this battle before us
00:09:35.280
and the world is on uh the world is on fire not just geopolitical risks the uh entire phoniness
00:09:44.240
that we have warned you about for for years if you watch me on if you were one of the listeners on
00:09:49.120
break part radio for a decade now we've been hammering away at the underwriting of the american
00:09:55.520
people unwittingly underwriting the chinese communist party it's all collapsing before you
00:10:00.720
in bankruptcy court new york 380 billion dollars of live 380 billion dollars how much of vanguard
00:10:09.040
how much of larry fink larry fink one of the most destructive individuals in the history of this nation
00:10:13.600
what he tried to do on esg crt this radical all this radical crap he tried to put in the companies
00:10:25.520
he they would put their money in this asset manager destructive right now in a bankruptcy court 380
00:10:32.000
billion dollars a liability how much of that is u.s pension funds doesn't even talk about the what is
00:10:37.360
the the the the zhangji the shadow banking company it's not just it's not just evergrand
00:10:43.280
that we've called this over a year ago it's just not evergrand remember and oh and the chinese
00:10:49.360
communist party local authorities caught him for data manipulation yeah they're gonna take somebody
00:10:52.800
out and shoot him this afternoon they've been manipulating the data the companies manipulate the
00:10:57.520
data the auditors manipulate the data the ccp manipulates that it's all open secret this is not
00:11:03.600
lost on the wall street guys they know it's a ponzi scheme and now you got the shadow banking i think
00:11:09.600
there's another 250 billion dollars in the shadow banking nobody knows what that's that is and we
00:11:15.360
don't know what american pension funds put money even into that and then you hear president trump
00:11:22.480
just logical right think about every second uh a a individual delivered that type of growth and that
00:11:28.800
type of economy to the american people and and just the crisp logic who else can do that tell me show
00:11:34.400
me another candidate you know chris christie they can't balance their checkbooks trump's sitting there
00:11:39.440
and that perfect answer the 1.9 percent of inflation he goes larry remember the targets too they don't
00:11:45.440
want zero inflation and we certainly don't want deflation you got it's it's always the feds numbers
00:11:50.640
too trump are up top of that bang right there please show me biden this is this a joke
00:11:56.480
they're coming at him i think 90 some uh indictments in 700 years we won 100 we bet it we won 100 and
00:12:05.920
a thousand years let's just do it let's go boris epstein you join us here i know you stepped out
00:12:13.440
meaning to do this but i want to play that i know you are a former financier you look at the debacle the
00:12:19.600
world is collapsing because of the chinese phony numbers they can't they can't kick it down the road
00:12:25.120
they're talking this morning people are saying china's got to come up immediately with a trillion
00:12:29.280
dollar cash infusion they're just going to print that a cash infusion i'm going to talk about birch
00:12:34.560
gold in a second if you've ever if you've never talked to a birch gold guy today's the day go do it
00:12:39.040
go talk to immerse yourself in precious metals as a a hedge against this this disaster boris epstein your
00:12:47.600
thoughts steve honor be with you honor be with the posse this morning my thoughts are that you know
00:12:55.040
15 years ago we used to think that well maybe the democrats are just inept maybe the democrats
00:12:59.600
just don't know what they're doing maybe this isn't all just a calculated uh attack intentional
00:13:05.120
attack on the united states of america how can we think that anymore if you look at where we are
00:13:11.120
now and those numbers that larry cablo put out were actually were great if you look at the
00:13:14.720
destruction perpetrated upon the american people the destruction perpetrated from the united states
00:13:20.400
of america by the chinese communist party by our adversaries and allowed to happen by the biden crime
00:13:28.160
family there's only one answer this is an intentional sellout of the united states and now the information
00:13:35.920
in the last 24 hours that joe biden was using a pseudonym you're hiding his name as he was
00:13:41.200
taking part in these absolutely shady underhanded tactics and deals to enrich him and his cabal
00:13:51.360
there's no doubt about it what has happened is an is an intentional
00:13:57.760
sellout of the american people of the american economy and of the united states of america as a whole
00:14:03.840
by the biden crime family by the democrat regime and by the uniparty as you as you pointed out so
00:14:09.840
aptly steve and that is exactly why when you're president trump back in office as soon as humanly
00:14:16.720
possible and that's why polling like the one that just came out this morning where he's up by 49 50
00:14:22.000
points is exactly what we need to see as he marches back to the oval office boris hang on one second i
00:14:30.320
know you're stepped out of a meeting i just gotta hold you through a short commercial break i want your
00:14:34.000
thoughts on another topic as we're gonna um rogan and hanley's gonna come in and join us about what
00:14:40.240
boris and i just talked about after boris leaves but i want boris's um observations on fox and friends
00:14:47.600
this morning they're bouncing doosie's bouncing up and down the white sofa falling in love he's got a new
00:14:53.200
love short break back in the warm in a moment are you tired of progressive corporations and exhausted
00:15:03.280
trying to keep up with all the virtue signaling when you're simply trying to buy products progressive
00:15:10.080
corporate america continues to push messaging that further alienates conservative americans all while
00:15:17.200
eroding the future of the american dream it's prominent all over the country companies like
00:15:23.200
starbucks strong-arming their customers to support abortion financial services like paypal canceling
00:15:29.600
customers for their political views makeup companies like maybelline making a mockery of women by
00:15:35.120
supporting transgender models and beer companies like bud light forcing gender ideology on you when all you
00:15:42.160
want is to enjoy a cold beer thankfully we don't have to fund these companies any longer with our
00:15:49.200
hard-earned dollars with public square we now have a solution it's simple join the movement of millions of
00:15:56.480
patriotic americans who love truth our country and our constitution at public sq.com that's public sq.com
00:16:06.320
public square is an app and website where you can get connected to tens of thousands of businesses
00:16:12.240
from all different industries that share your value for life family and freedom whether you're looking
00:16:17.600
to buy coffee find a new athletic clothing that knows what a woman is and shop for clean skin care
00:16:23.920
or simply find a new restaurant in your community that won't lecture you about your political views
00:16:29.520
public sq.com is your resource public square also offers discounts to many high quality businesses
00:16:36.960
on the platform so that you can actually receive incentive for spending money with companies
00:16:41.920
that don't hate you public square is free to join as consumer or a business owner and you can get
00:16:48.560
started today at public sq.com remember either as a consumer or a business owner download the app now
00:16:57.200
that's public sq.com public sq.com the new york times had a story that is uh i'm sure it's caused some
00:17:07.840
embarrassment with the desantis camp uh axiom strategies which is a company owned by jeff roe
00:17:13.760
who is the chief strategist of ron desantis super pack uh never back down posted online essentially blunt
00:17:22.000
advice for uh ron desantis to use at the presidential debate that's going to be coming up on wednesday
00:17:29.040
on fox and the reason you know they cannot have a super pack cannot directly coordinate with a campaign
00:17:37.520
so sometimes they post stuff online because they know that people will look online well it turns out
00:17:43.920
kind of dangerous because somebody called contacted the new york times and said hey look we know
00:17:49.360
exactly what ron desantis should be doing according to his super pack at the fox debate his super pack
00:17:55.520
has hundreds of pages of memos advice internal polling and here are some of the debate strategies that
00:18:02.240
they want ron desantis to see attack joe biden and the media at the debate state positive vision for
00:18:09.040
america take a sledgehammer to vivek ramaswamy they say because he's a newcomer and he's rising in the
00:18:16.000
polls and defend donald trump from chris christie's inevitable attacks and it also says attack joe biden
00:18:22.560
and the media no less than three to five times okay so back up just for one second the golden rule of
00:18:27.920
debate prep is don't give away what you're gonna say yeah in the debate right but yet this as steve points
00:18:34.720
out the campaign rules against coordinating directly between a super pack and a candidate can't do that
00:18:39.360
it's no no so they do post it not quite so glaringly in this case it's crazy here's the problem with
00:18:46.720
what they have done now when tens of thousands tens of millions of people are watching on wednesday
00:18:52.800
night for the fox debate now every time ron desantis is going to answer a question people are going to
00:18:58.320
go hmm that was scripted i bet that was scripted you know it's great for vivek ramaswamy and it's
00:19:04.640
great for chris christie because they now know the game plan against him according to the super pack
00:19:09.520
so so you got to figure that they are both preparing a comeback so that after ron desantis
00:19:15.600
does something say he attacks uh chris christie as the the memo details chris christie's probably going
00:19:22.000
to turn toward ron desantis and say okay governor is that your thought or is that just your super pack
00:19:28.240
talking well this is what you say look at the recent polling that fox put out so so desantis dropped
00:19:34.000
six points vivek gained six points then they did who would be your second choice desantis was on top
00:19:40.400
but vivek went from zero to 22 percent in politics we call that catching lightning in a bottle so now
00:19:47.360
you've got vivek getting acknowledgement of his lightning in a bottle and yet he gets to respond to
00:19:53.040
the memo steve doocy falling in love right there got a new one right he's not so into desantis anymore
00:20:02.480
uh you know youngkin don't know if that's working i told you it's going to be tim scott vivek
00:20:08.000
uh and you know youngkin this is this is murdoch that's directly murdoch boris epstein
00:20:14.240
uh the whole thing on on desantis they should have just sent the memo don't act like a robot
00:20:18.960
you know be human i show human emotions your thoughts and observations sir there was actually
00:20:26.160
an interesting piece in usa today this morning steve and the bottom line was how much humiliation
00:20:31.840
can one candidate take and it went through all the ways that that ronda sanctimonious the florida
00:20:37.520
governor has been annihilated by president trump uh and by the way that nickname being a key part of it
00:20:43.760
which is absolutely caught on it's been extremely descriptive just because of how sanctimonious the
00:20:48.560
florida governor is but in terms of the excitement for other candidates you know all i got all i'll
00:20:53.440
say is let's look at the scoreboard victory polling out this morning president trump at 61 the florida
00:20:59.920
government at the florida governor at 12 so president trump 61 the florida governor 12 chris christie
00:21:05.840
six vivek was i guess catching lightning in the bottle he's at a big round four head-to-head president
00:21:12.160
trump 65 the sanctimonious 23 head-to-head president trump 71 vivek 15 and i will bet you out of those
00:21:20.160
15 percent at least 14.99 will vote for president donald j trump so sorry for those who are overly
00:21:26.800
excited and bouncing up and down that just ain't happening but the bottom line the reality is very
00:21:32.720
clear president trump is winning this primary he's dominating the primary and he's dominating the general
00:21:39.440
election and he's going to be our next president because that's the only way we will save our
00:21:43.520
country boris had uh with your uh morning newsletter uh instagram all of it how do people get to you
00:21:51.840
steve thank you so much honor to be with you and great to always cut through the noise and just give
00:21:57.440
the signal to the war room posse my information boris cp.com hot on boris cp.com hot on getter at
00:22:03.920
boris cp twitter at boris cp hot on truth social at boris and the hottest on the gram
00:22:09.120
boris underscore epstein stay strong god bless and shabbat shalom
00:22:15.040
uh boris thank you i want to bring in uh rogan o'hanley dc drano uh if we can put up rogan you
00:22:20.640
had an amazing uh tweet up about it's time to uh you know i don't know what mccarthy's doing here we
00:22:27.360
got chip where i'll get to in a minute about you know nothing's happening on the cutting of the budget
00:22:32.240
side the the conservatives intend to come in hot when they get back in september this continued
00:22:37.760
resolution is not going to happen you've got a different beef your beef is you've picked up
00:22:42.160
where uh brian costello and the team have been uh about sequoia capital where we've been underwriting
00:22:47.120
the chinese communist party's military and and why is mccarthy not moving forward with impeachment
00:22:52.560
why is nothing happening why is he not shutting down the ccp uh walk me through your walk me through
00:22:58.240
your tweet what's your what's your biggest complaint yeah i was just trying to air some grievances that i
00:23:03.680
feel millions of us are feeling right they impeached our guy twice they've now come in with their fourth
00:23:09.360
indictment and mccarthy is pretending like he's a twitter influencer sending out mean tweets that's
00:23:15.120
my job that's other people's jobs your job as speaker of the house which we begrudgingly gave you
00:23:20.800
that role is to hold people accountable start fighting back because as we've learned throughout
00:23:26.480
our childhoods and teenage if you don't punch back the bully the bully's just going to keep
00:23:32.000
bullying you and i'm genuinely worried that there's going to be more indictments potentially
00:23:36.080
in arizona potentially in michigan potentially in pennsylvania they smell blood in the water and
00:23:40.640
nothing's happening so my theory as to why nothing is happening is that mccarthy is bought out by sequoia
00:23:47.520
because sequoia makes billions from china i know you've had brian costello on and he turned me on to
00:23:54.480
this and the more i dig the more i think that's the most viable theory and what we have uh learned
00:24:00.960
is sequoia is donating hundreds of thousands if not millions to mccarthy and mcconnell right we
00:24:07.600
just saw mcconnell's statement last week saying it would be a bad idea for the country to impeach joe
00:24:12.560
by are you kidding me so this is reminding me of 2020 when they sold the election we said where are
00:24:20.480
the gop fighters coming to save us and it's this you know trump's getting taken down and they're just
00:24:26.560
watching and saying oh yeah we really don't like it but they're not doing anything so here's the
00:24:31.200
theory uh mccarthy gets the money from sequoia sequoia is the biggest u.s venture capital funder
00:24:38.480
in chinese uh in all of china but in their military tech ai tick tock other ai tech right and mccarthy
00:24:48.960
interestingly shut down the house intel investigation being led by devin nunez into sequoia's dealings in
00:24:56.080
china and then we have rep mike gallagher who's the chair of the committee on the ccp who says yeah
00:25:02.720
we're going to look into these usvc funds investing in china and then they left sequoia off the list for
00:25:09.520
the first round of document requests right and they said we're going to take an extra look at sequoia down
00:25:14.240
the road so they're clearly protecting sequoia and here's where the leverage is we believe that the
00:25:20.880
doj has promised to go after unleash hell on mccarthy and other gop people for protecting sequoia
00:25:28.640
if they move for impeachment against biden mayorkis anyone so the gop has its hands tied because the top
00:25:37.040
donor funds can't cut off sequoia money and now they got leverage for protecting sequoia that's the theory
00:25:43.600
but after these four indictments and mccarthy's still just mean tweeting like an influencer
00:25:52.800
rogan i want you to hang on for a second if you can hang through the break uh because i want to
00:25:56.480
just wrap this up you you've hit some amazing points on this particularly the doj's involvement
00:26:02.720
also in the next hour a courageous senator from the great state of georgia colton moore has put out a
00:26:09.280
sent a letter about a special session we're going to have all that rogan or hanley senator colton moore
00:26:14.240
we're going to leave in our tribute to the american spirit american music one of the great voices in
00:26:18.720
our country jim reeves and one of the most beautiful songs precious memories we'll leave you with this
00:26:23.680
this morning at the bottom of the hour we'll be back momentarily
00:28:55.760
Every day the parallel economy grows bigger and bigger
00:29:04.840
It's powered by everyday Americans who are sick and tired of all the woke propaganda
00:29:15.800
For years they have been dumping millions into leftist causes
00:29:26.040
Patriot Mobile is America's only Christian conservative wireless provider
00:29:36.740
So you get the best possible service in your area
00:29:45.100
You're sending a message that you support free speech