On today's show, Katie and Danielle talk about the progress being made on the much-awaited border security supplemental bill, the tax bill, and the Iran deal. They also discuss the impact of the Iran sanctions bill and whether or not it can pass both chambers of Congress.
00:00:52.400But I think, to your point, it's so rare in this Congress to see such an overwhelming bipartisan support
00:00:59.140for any piece of legislation, much less a tax piece of legislation,
00:01:03.280that I think it's going to be very difficult for the Senate not to endorse this plan as well.
00:01:07.840We just got a little bit of news from Senator Schumer, Majority Leader, who just spoke on the Senate floor.
00:01:13.080He said the legislative tax of the entire national security supplemental aid package
00:01:18.040will be released as early as tomorrow and no later than Sunday.
00:01:20.820And interestingly, importantly, he said this will be the entire aid bill.
00:01:25.100So funding for Ukraine, Israel, the border and Taiwan, what is the likelihood that that gets anywhere?
00:01:31.460So this has been the elusive supplemental package that lawmakers have been hashing out for the last several weeks.
00:01:37.500It, as you rightly point out, involves an extensive border package with a lot of different policy provisions included in that.
00:01:44.540It includes funding for Ukraine, Israel and the Indo-Pacific.
00:01:47.740This is the grand plan that both the White House and congressional leaders had when they started this process.
00:01:53.580It's, of course, been derailed many different times, but they do feel that they've reached the finish line here.
00:01:59.020They're just putting the finishing touches on the legislation.
00:02:01.520One of the chief negotiators, Senator James Lankford, told reporters that he expects the text to be somewhere in the range of 200 pages.
00:02:07.900They hope to get it out for everyone to digest over the weekend and then begin the process of passing it in the Senate, perhaps as early as Wednesday of next week.
00:02:17.120Now, that's this is going to require 60 votes to pass in the Senate, Katie.
00:02:23.360But if they do get 60 votes or even more 60 votes, the question then becomes what happens in the House?
00:02:28.620Yes. Speaker Johnson has said that the provisions that he's seen and he's not seen the entire bill give him an appetite of not wanting to move the bill to the full House.
00:02:38.120But if the legislation comes out and he starts to see an overwhelming number of his members say that they can be supportive of it, that they want to see this border proposal in particular push through, then there is the chance that it could get to the House floor.
00:02:50.640There are still so many hurdles that this legislation needs to cross between now and then before it actually becomes law.
00:02:57.900But right now, this is positive progress that they're actually going to have something that lawmakers can digest and decide whether or not they want to.
00:03:04.380So if the tax bill goes forward, and by the way, it's $33 billion to partly extend a major expansion of the child tax credit, which is huge for American families and lifts hundreds of thousands of kids out of poverty.
00:03:16.240There's also $33 billion to reinstate a set of expired tax benefits for businesses.
00:03:20.340If that goes through, that would be 36 bills.
00:03:23.420And then if this supplemental for national security, which includes the border in Ukraine, that would be 37, which would get them a little higher up in the legislative progress for their terms.
00:03:37.080How do we keep it all? How do we keep track of all of it, Katie? It's coming so fast and curious.
00:03:40.360How do we? It's going so fast. It's just so hard.
00:03:42.700This is the primal scream of a dying regime.
00:03:50.400Pray for our enemies, because we're going to medieval on these people.
00:03:55.500Here's the time I got a free shot at all these networks lying about the people. The people have had a belly full of it.
00:04:01.680I know you don't like hearing that. I know you try to do everything in the world to stop that, but you're not going to stop it. It's going to happen.
00:04:06.840And where do people like that go to share the big line? Mega Media.
00:04:11.820I wish in my soul, I wish that any of these people had a conscience.
00:04:17.240Ask yourself, what is my task and what is my purpose?
00:04:21.000If that answer is to save my country, this country will be saved.
00:04:27.320War Room. Here's your host, Stephen K. Band.
00:04:30.520Okay, welcome. It's Thursday, 1 February, Year of the Lord, 2024.
00:04:38.860Thank you for joining us to the afternoon and early evening edition of the War Room.
00:04:44.280I want to go immediately to Congressman Anna Polina Luna, APL.
00:05:03.100Yeah, what we realized in kind of observing and looking into really whether or not Jack Smith and the question of whether or not he's actually been constitutionally appointed.
00:05:12.500Right now, we're seeing that every single aspect of this administration and really the deep state has been weaponized against President Trump in an election year, nonetheless.
00:05:22.140And so the question is, is who appointed him, whether or not he's acting in his own rogue capacity, which we think he is, and whether or not he has really been subject to any congressional oversight, which there is precedence in previous cases,
00:05:37.660specifically McGrane v. Doherty, that says that, you know, any prosecutor in this capacity would have to be under congressional oversight.
00:05:45.340And so I had some of my colleagues join me on this.
00:05:48.100But, you know, we hope that the rest of the body is asking these same questions because, frankly, Steve, we wouldn't be doing our jobs if we're not asking these questions.
00:05:56.060Congressman, you know, people kicked this around a couple of months ago and they're saying Garland appointed him.
00:07:23.880Remember, these bills are all over the map right now.
00:07:26.060It's just, you know, they're saying they're going to put the text out on the, on the, on the, the text on the immigrate or the, you know, the immigration bill or what I call the amnesty bill.
00:07:37.440Janet Yellen's whining today about we immediately need to hit the $60 billion on Ukraine.
00:07:43.280Dr. Seb Gorka is going to join me shortly to talk about this potential coup over there, how that's going to affect us shoveling more money.
00:07:50.120If I don't have Boris, because I know we've got to re-hook the phone up.
00:07:52.980Let's get, I think I've got Scott Bessent.
00:07:54.820And I think Scott joins us from our Palm Beach studio.
00:07:58.820Scott, first off, you're one of the top hedge fund guys in the country.
00:08:03.360You put out a quarterly letter to your, to your investors as your fiduciary duty.
00:08:09.340You had a detailed analysis in there about what's really going on in the market, particularly the stock market.
00:08:37.780And I thought it was important to set the record straight in terms of why we are bullish on the market.
00:08:45.300You know, this is a Trump rally, not a Biden rally.
00:08:49.080And as you said, my view is an investment view, not a political view.
00:08:55.460You know, we, I have my own political views.
00:08:57.940We tease those out and we look for the factors that are moving the market.
00:09:01.940And as I said in the letter, I think the market is anchoring on a Trump victory, which would include the, the Trump tax cuts being reapplied because they expire in 25.
00:09:17.440Light touch deregulation, more prudent antitrust policies, and a, you know, generally less drama overseas.
00:09:32.440The other thing that's important to think about is on the other side, you know, the market is anchoring toward a Trump victory.
00:09:43.700Janet Yellen and the Biden apparatus are also anchoring on a Trump victory.
00:09:49.020And they are doing everything they can to keep Donald Trump from coming back to Washington.
00:09:54.240So, you know, they are, they are priming the pump as hard as they can.
00:10:00.260And, you know, my point in the letter was, you know, this is as good as it gets.
00:11:05.400You're saying the market is looking, always forward looking.
00:11:08.920And when it looks at the Trump victory for, as you said, the tax cuts and the deregulation and some sanity geopolitically, good things happen.
00:11:17.520When they see Biden or it gets iffy, then they pull back.
00:11:20.600Is that basically your analytical theory of the case?
00:11:23.100Yeah, look, you know, the market's had small gains when Biden's up, but the Trump gains, they are much bigger and much more persistent.
00:11:36.620And this isn't a huge data set, but directionally, this is what's happening.
00:11:42.940And, you know, I think it's important, you know, again, you know, I'm saying that this isn't a political view.
00:11:54.720And I think it's important to isolate why it's happening.
00:11:59.520And I think one of the biggest factors and, you know, look, every incumbent administration does this.
00:12:06.720You know, they prime the pump for their candidate.
00:12:09.140I would say I believe that Janet Yellen is being especially reckless here, given the yawning deficits we have, six, seven percent of GDP with low unemployment.
00:12:21.740You know, you're not supposed to have deficits like this when the economy is doing well.
00:12:27.020And you're not supposed to be priming the pump when the Federal Reserve is hiking rates or, you know, is trying to pull down inflation.
00:12:36.980You know, the financial positions in Washington, head of the Fed, Treasury Secretary, are risk management positions.
00:12:46.900And I think that right now the risk management has been put to the side in favor of a Biden re-election.
00:13:19.820It should be they understand lawfare and the DOJ and the national security state de-state.
00:13:25.040But are you are you implying that the Fed and the Treasury are working to basically put more infuse more liquidity into the system to help Biden in his re-election?
00:13:36.620I'm making two different or I am seeing the shades of gray and with Yellen, she is a political appointee in an editorial or a piece I wrote two years ago.
00:13:55.960I called her one of America's great public servants.
00:13:58.920In my letter yesterday, I called her a political apparatchik.
00:14:04.540And she has crossed the Rubicon and is clearly on a political mission.
00:14:12.600The Fed is more of an implicit bias, although, you know, I will say former New York Fed Governor Bill Dudley did say before the 20 election that the Fed should raise rates to keep Donald Trump out.
00:14:32.600And Lyle Brainerd, the current head of the National Economic Council, they broke with all protocol and donated to Hillary Clinton, you know, is 90 something percent of the people in D.C. vote Democratic.
00:16:25.140Scott Besson, hedge fund manager, has got kind of a brain analysis.
00:16:28.620I know that people around the president, the president, others on Wall Street are talking about it, about the Trump rally, the other Trump rally, about President Trump, his polling.
00:16:37.860Investors, they're ready to go long, as we say.
00:16:39.840Scott, one of the most important members of our War Room engine room, these are people, sophisticated people throughout the country that watch the show and provide analysis, just said, Scott Besson seems super honest.
00:16:52.280How can he possibly work on Wall Street?
00:16:55.300Well, you know, Steve, I'm from Little River, South Carolina.
00:17:00.940The only thing I knew about Wall Street when I was a kid was something bad happened there in 1929.
00:17:06.340And, you know, I've been incredibly lucky.
00:17:09.700I actually moved my business and my family down to Charleston, South Carolina, my home state.
00:17:15.740So it was good to get away from the people on Wall Street.
00:17:22.840Let me ask you, the people kind of shocked.
00:17:24.640A lot of the audience in the live chat are saying, hey, they understand lawfare.
00:17:43.500It's the most it's probably got the most fiduciary responsibility on any office, maybe outside the president.
00:17:50.200This one, again, you called Yellen someone who at one time you kind of admired.
00:17:54.900Maybe you said she's now a political apparatchik and you actually question members of the Federal Reserve, maybe board of governors or Fed presidents of the maybe regional feds of actually pulling for a Biden win.
00:18:08.600Look, you know, again, let's separate those.
00:18:11.640I think the bias is more implicit at the Fed.
00:18:16.260Clearly, it's more overt at Treasury is Secretary Yellen reports to the president and answers to the president.
00:18:27.500Secretary Yellen's job was on the line.
00:18:30.120And it was widely rumored that she was going to be replaced in the early summer of 22.
00:18:38.840We even saw in mainstream media the list of the replacements, Gina Raimondo, Lyle Brainerd, Gary Gensler.
00:18:45.940And it looked like they jerked on her chain a bit.
00:18:51.040But again, every administration does this.
00:18:54.780What is worrying here is the level at which this is being done, that we are racking up these trillion-dollar deficits.
00:19:07.340The national debt is moving up, I think it's a trillion dollars every hundred days.
00:19:13.820So, you know, this isn't something to play around with.
00:19:16.920But, you know, something for your viewers to watch, and you can monitor this, and I challenge Secretary Yellen, there's something called the Treasury General Account.
00:19:30.940And think of it as the Treasury's checking account at the Federal Reserve.
00:19:37.960So when tax money comes in, the expenditures go out, it runs through this account.
00:19:44.480And since COVID, the Treasury has kept a very high buffer.
00:19:52.240Last summer during the debt ceiling crisis, and, you know, it's a rainy day fund.
00:19:58.560Last summer during the debt crisis, it was run down close to zero because the government wasn't able to issue debt.
00:20:06.160You know, think of it as a strategic petroleum reserve for money.
00:20:11.020And, you know, with the Strategic Petroleum Reserve, I would say, you know, I'd make another point that Janet Yellen has run that down to decades-low levels.
00:20:22.540And she did that going into the 22 elections.
00:20:25.440So the federal government was selling crude into the market to suppress the oil price.
00:20:32.880And, you know, we identified that, and, you know, now we identify what they're doing here.
00:20:39.680You know, our jobs make money, not be political.
00:20:42.340But, you know, when you have this Treasury General Account, since COVID has started, that account has been at about $500 billion to $750 billion.
00:20:56.380And so I would challenge Secretary Yellen to keep it at that level going into the November election.
00:21:06.940Are you, are you, hold on, are you implying that she would take that liquidity and pump it into the market so that the stock market stayed up as Biden tried to tighten the race with Trump?
00:21:17.880I'm saying she could, and I'm saying, you know, we'll see, you know, on the other side, I would point out that Stephen Mnuchin, the President Trump's Treasury Secretary, did what was extremely prudent during COVID.
00:21:34.680You know, he left office on January 19th, January 20th, 2021, there was $1.6 trillion in that account because of the COVID crisis.
00:21:48.560You know, again, this is a buffer that Treasury Secretary and the Federal Reserve Chair are risk management physicians.
00:21:57.620Are you willing to risk, are you willing to risk the credibility, the liquidity of the U.S. government to get your president reelected?
00:22:12.540Scott Besson, I don't know if you have a social media, but if you do or a page somebody can go to to find out more about you, we'll have you back on.
00:22:19.320I know that this story has got Wall Street talking.
00:26:27.680What you said in your preface to your last question to Scott, we need to keep our eye on that distinction you made, that the posse is all good and up to date and has the intel on DOJ, FBI, CIA, deep state.
00:26:46.000But just as deleterious, it's not just the feds breaking down your door because you're a pro-life activist.
00:26:52.940It's what they're doing with your money and how they're indebting your children, your grandchildren, your great-grandchildren and hocking us up to the eyeballs with the Chinese.
00:27:02.740So we need to balance the political nows, the knowledge that the war room posse gets with what they're doing in the financial sector that we just don't talk about enough.
00:27:14.620So, you know, the likes of Dave Bratt and everybody else.
00:27:18.720With regards to Ukraine, something doesn't add up.
00:27:25.240As I told you offline, a good friend of mine from the British Army, formerly of the British Army, just got back from the front lines in Ukraine.
00:27:33.880He said he was hanging out with the elite units, were doing fine, getting training from people like him and others, well-equipped, rotating in and out.
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00:28:51.860That's PatriotMobile.com slash BannonTV and support a company that actually believes in America.
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00:29:10.500Their 100% U.S.-based customer service team makes switching incredibly easy.
00:31:03.600Because if you don't, you're falling for Russian propaganda.
00:31:08.740Can you just stop and understand the significance of that when you have a Republican member of Congress who's saying if you don't vote for a bill that allows, that recognizes 5,000 illegal immigrants can come into the nation every single 24 hours, you're actually working for the Russians?
00:31:37.800Senator Mike Rounds, quote, I suspect that a lot of the Internet rumors about the border deal are coming from overseas.
00:31:50.400Is this – do we have Adam Schiff's on our side of the aisle in the Senate, Steve?
00:31:56.640So I have a certain guest I'm trying to get on the show tomorrow who, as we speak, is getting a data dump from the people around Zelensky and finding out what's true about the Monday announcement and the imminent firing tomorrow.
00:32:16.920So I'll share everything with all of my listeners and you, Steve, as soon as she comes on the show.
00:32:25.440Ukraine is in trouble because they simply do not have the capacity to rotate the main forces out of theater.
00:32:33.660There's no way – you know as well as anybody else.
00:32:36.960If you have fighting units, a third of them are in theater, a third of them are training ready for deployment, and a third of them are recovering from deployment.
00:32:48.540All the main fighting forces are deployed with a tiny amount who are training and then the elite who are being rotated in and out.
00:32:58.220That operational tempo is unsustainable.
00:33:05.400Seb, you know, they talked about press ganging 500,000 new troops, which they can't do.
00:33:11.440The generals already told Zelensky he can't do that.
00:33:13.180But in addition, the civilian executives, they just discovered – they admitted they have a $40 million, you know, stealing of money for fake – invoices for artillery shells.
00:33:36.080The military has at least delivered with their courage and their valor.
00:33:39.820I mean how do you see this thing playing out?
00:33:41.320And how do you see – do you think there's any chance people can write a $60 billion check when you've got essentially a potential coup?
00:33:47.700Because the other general said, no, we will not back up this guy leaving.
00:33:51.520And he said, I'm not voluntarily going to resign.
00:33:55.280Look, having spent 15 years of my life in that region of the world, $42 billion, are you kidding?
00:34:03.520You know, let's put another zero on the end of that.
00:34:06.200That whole part of the world is former communist.
00:34:09.940And if you want to understand that region, you have to understand the endemic corruption that's existed there since the fall of communism, not simply until November the 9th, 1989.
00:34:22.800When it comes to what my predictions – nothing's changed from what I predicted over the last year.
00:34:29.760This will become a frozen conflict, like Transdenisteria, like Moldova, like South Ossetia.
00:34:36.700You have to give credit to the Ukrainians that they've managed to fight from 22nd in the world against the nation ranked second, fighting that nation to a standstill.
00:36:12.840I opened the show with a video of the eight illegal aliens in New York, and I asked just one question, just one very simple question.
00:36:20.700What happens to a society where it's – when it's law enforcement officers, those who run towards the gunfire, can be beaten up on camera by illegal aliens who, four hours later, walk out of the booking center, walk out of the police station, and give a middle-fingered salute to the people waiting outside with massive crap-eating grins?
00:36:49.640When you're allowed to get away with that, whether you're an illegal alien or whether you're somebody who sees that, that society is on the brink of collapse.
00:36:59.220But if you look at the fact that 9-11 was 19 jihadis, in the last year we've arrested 150 terrorists on the border.
00:37:06.780Out of the 8 million illegals that Biden has let into the nation that we know of, there is no threat assessment that isn't catastrophic.
00:37:16.260It is catastrophic because our enemies know the border is open, and they've been secreting their assets into this country for three years nonstop.
00:37:27.180Divisional-sized assets make it incredibly easy to put the best of your best jihadis, cartel members, North Korean operatives.
00:37:37.820You choose which enemy threat group it is.
00:37:41.380They have been secreted into the nation.
00:37:48.620That's why I've got the hard ceramic plates in the back of my Mustang, because when this goes off, it's going to get very hot very quickly.
00:37:56.900And the front line is going to be your front door.
00:42:18.640And more importantly, particularly for the economic structure of this country, with African-Americans and Hispanic-Americans, working-class Americans, and particularly those that are low-skilled, it will flood the zone.
00:42:30.780They'll immediately give, I don't know, six or seven million work permits because the elites want lower wages and the elites want bigger consumer markets.
00:43:40.960I want to warn you of a huge change that could be coming to our money and our bank accounts.
00:43:50.140First, think back to 9-11, shortly after the government pushed through the Patriot Act.
00:43:54.880This gave the government power to spy on innocent Americans by monitoring our phone and email and tracking our movement across the Internet.
00:44:02.380Now, Jim Rickards, editor of the independent financial newsletter Strategic Intelligence and New York Times bestselling author, is warning about a coming event that could elevate this governmental surveillance to a terrifying new level.
00:44:16.060In fact, some of the guests I've had on the war room believe that the government will soon expand their powers to track our every move.
00:44:23.980If we say the wrong things on social media, donate to the wrong causes, buy firearms, or even vote MAGA, the government may be able to shut us out of our bank accounts.
00:44:34.840I can't say for sure if this will happen, but it's an interesting and dire warning.
00:44:40.260Fortunately, Jim Rickards, an American patriot and friend of mine, has made it his mission to educate us on what he believes is coming and how to protect yourself from the possibility of programmable money.
00:44:52.920Watch Jim's warning video now before it's censored like I've been in the past.
00:45:13.600I think I'm going to clip that, how Seb put that, because it's quite powerful.
00:45:17.960But over the next couple of weeks, you have this now new tax bill.
00:45:21.640I mean, here's the irresponsibility of them.
00:45:24.200With all this fight, and now you heard Scott Besson talk about how they're gaming the system with liquidity in the market.
00:45:30.740They're not doing quantitative easing because that would be out in front.
00:45:33.980They're using the Treasury General account, which we're going to start monitoring, and insiders on Wall Street monitor closely to see how they're playing around with liquidity in the system to prop up the stock market, at least temporarily.
00:45:45.840Because the financial assets or financial resources we've talked about has now come on very anti-Trump.
00:45:54.920Although Scott makes the point that it's really the understanding that Trump could return with the deregulations and the tax cuts and getting your control around spending.
00:46:04.580Plus, you know, stopping this geopolitical nightmare that we're getting sucked into every day, a broader war in the Middle East, this Ukrainian nightmare, now the South China Sea and, you know, the CCP, all of it.
00:46:16.800By the way, there was a brilliant analysis the other day.
00:46:19.400Someone said that if China was to, if Taiwan was to fall, it'd be a 25% drop.
00:46:25.840I think it was, I think it was Ken Griffin.
00:46:28.860It was Ken Griffin who said we would go immediately to a Great Depression.
00:46:31.340Ken Griffin, who, as you know, politically is not a guy I think much of, but as a hedge fund guy, he's a purely money guy smart.
00:46:38.480He said we'd go into a Great Depression immediately if there was either a blockade or an evasion of Taiwan.
00:46:44.540That's the knife's edge the world's on since President Trump had the elections stolen from him because stolen elections have catastrophic consequences.
00:46:53.640Remember, Jim Rickards was on a couple of weeks ago.
00:46:56.460If you like more of that, Jim Rickards puts out this monthly newsletter, Strategic Intelligence.
00:47:02.740You should go over to Paradigm Press and check it out.
00:47:04.840We're trying to give you every tool in the toolbox.
00:47:08.160Just because you're a working class audience, just because you're a middle class doesn't mean you can't get the top thinking.
00:47:13.160Besant is a legendary trader, a legendary hedge fund manager.
00:47:17.060And as you can tell today, he's not done a lot of TV interviews.
00:47:20.620But what he had to say was quite powerful.
00:47:22.540But that's the types of exposure we're trying to give you to make sure that you make the smartest decisions for you and your family because we live in turbulent times.
00:47:31.180And it's only going to get more turbulent.
00:47:32.480Remember, you have this tax deal that came out of nowhere.
00:48:21.320Hey, War Room will match up with him at any time.
00:48:23.340And we got a lot of information on McCarthy, particularly about Sequoia Capital and money he took, particularly related to the Chinese Communist Party.
00:49:31.540I know you've got a big announcement to make.
00:49:33.040But they're coming after you to bankrupt MyPillow because, quite frankly, they've had a belly full of Mike Lindell saying, game day voting, paper ballots, hand counted, no machines.
00:49:58.420And we are trying to destroy MyPillow, this awesome employee-owned company.
00:50:05.660Well, tomorrow morning, we're going to have a big announcement with our other platform, mystore.com, which, by the way, it's all entrepreneurs, USA products.
00:51:42.420You invent some problem solution, but you guys get it for the best prices in history.
00:51:47.660It actually helps you, and it helps my employees and MyPillow, which then it helps me because I can be out there fighting for a country and getting rid of machines,
00:51:58.160machines, go to paper ballots, pay and counting, and get this plan moving forward.
00:52:04.060So everything works together, and you guys have helped so much.
00:52:08.200I don't know where I'd be right now without the War Room Posse, Steve.