Bannon's War Room - Episode 3482： Financially Crippling Future Generations; House Passes Corrupt Spending Bill

00:00:00.960 First, I want to talk to my Republican colleagues.

00:00:04.480 It's important that we understand that the American people don't expect us to win every time,

00:00:08.940 but they sure as hell expect us to fight, and that's not what we're doing.

00:00:14.160 We should not be fighting for this. This is garbage.

00:00:17.220 The next thing I want to address real quick is to the American people,

00:00:20.740 please pay attention to who votes for this,

00:00:23.100 and make sure when they come back to your hometown in your district

00:00:26.740 and they talk to you at your next Lincoln Day dinner,

00:00:30.000 about fiscal responsibility, securing the border.

00:00:33.160 If they voted for this, let them hear about it.

00:00:36.160 Thank you. I yield back.

00:00:38.000 Gentleman Yills.

00:00:40.120 Reserve.

00:00:42.460 I don't speak. I reserve the balance of my time.

00:00:44.620 Gentlewoman from Texas, reserves.

00:00:46.480 Gentlewoman from Connecticut.

00:00:48.480 I reserve the balance of my time.

00:00:50.060 Reserves.

00:00:51.920 Gentleman from Texas.

00:00:57.060 The gentleman from Florida a moment ago talked about the fact

00:00:59.760 that we defund UNRWA and we defund some policies that are pernicious.

00:01:03.580 I agree with him.

00:01:04.760 It's a part of the process that we carried out last year when we set out to change this institution

00:01:08.500 to return to some sort of regular order, to have 72 hours to read bills,

00:01:13.120 to be able to have single subject bills,

00:01:14.980 to offer amendments on the floor,

00:01:16.860 to actually have an appropriations process.

00:01:18.740 We passed seven appropriations bills off of the floor of the House.

00:01:21.960 We passed three out of committee to the floor.

00:01:24.340 We actually had some amount of debate.

00:01:26.280 We were able to move things through.

00:01:28.340 And we got some of our policy priorities.

00:01:30.380 And we then sent them over to the Senate.

00:01:31.940 And then what did we do?

00:01:32.920 We walked away.

00:01:34.140 And we went back to business as usual in the swamp,

00:01:36.740 where a handful of people that they call four corners

00:01:39.220 all sit back and decide for you.

00:01:42.620 Not the people in this room as a body,

00:01:44.980 but a handful of so-called cardinals.

00:01:47.420 The same group that I heard guffawing in the back a minute ago.

00:01:51.280 The same block of appropriators

00:01:53.080 that think they're the ones that get to control the entire world

00:01:55.760 and use our men and women in uniform

00:01:58.120 as an excuse to undermine the national security of this country

00:02:02.480 by spending money we don't have,

00:02:04.000 by racking up debt to the tune of a trillion dollars every 100 days,

00:02:07.760 while funding all manners of sins with respect to transgender surgeries,

00:02:11.840 abortion, tourism,

00:02:13.420 funding the World Health Organization to give away our sovereignty,

00:02:16.660 funding open borders with mass parole

00:02:18.480 that led to the death of Lake and Riley.

00:02:20.540 Everybody who votes for this bill today, you own it.

00:02:25.200 Don't go out and campaign this year saying you oppose this stuff

00:02:28.200 when you write the check.

00:02:29.580 Because that's what's happening today.

00:02:31.880 Every single Republican,

00:02:33.460 every single Democrat who votes for this omnibus spending bill today,

00:02:37.340 they own it.

00:02:38.180 They own the open borders.

00:02:39.920 They own the woke military 0.99

00:02:41.740 that we cannot recruit people to fight in.

00:02:45.320 They own giving our sovereignty 0.87

00:02:47.020 to World Health Organization and international bodies.

00:02:50.120 They own more funding for the Wuhan lab.

00:02:53.440 Yeah, that's all in there.

00:02:55.180 They own it.

00:02:56.960 We should vote no.

00:02:58.420 You want to win in November?

00:03:00.080 Vote no.

00:03:01.460 I yield back.

00:03:04.280 The gentleman yields.

00:03:05.780 Welcome back.

00:03:06.680 It's Friday, 22 March.

00:03:08.560 Year of our Lord, 2024.

00:03:09.880 Laid down right there like it was on War Room.

00:03:12.860 Don't let the hundred or so that are going to vote to get this to the floor,

00:03:16.200 do not let them come back to your district and lie to you.

00:03:18.500 If they vote for this, they're voting against you.

00:03:21.300 And I mean specifically against you.

00:03:23.000 They're voting against the United States of America,

00:03:24.600 and they're voting against American citizens.

00:03:26.820 Jim Ricker is going to join us in a moment.

00:03:28.140 But I want to get Dave Walsh in here.

00:03:30.180 Dave, all the sustainability crap you talk about,

00:03:34.020 all of it's in this budget.

00:03:35.540 They didn't cut any of this stuff out.

00:03:37.040 It's all in here.

00:03:38.020 This is one of the reasons we're having a $2.5 trillion deficit this year

00:03:42.380 on this budget.

00:03:43.320 This is Nancy Pelosi+.

00:03:44.840 But I want to get in here while I've got some time with you

00:03:47.640 before I get records up and bring Dave Brat back.

00:03:51.420 One of the most radical things I've seen in an industrial economy

00:03:55.400 was done by Joe Biden this week on electric vehicles,

00:03:58.220 which nobody wants to touch.

00:03:59.600 They can't give them away.

00:04:01.280 Talk to me about it because this is going to have this budget

00:04:04.040 and this spending coupled with what their industrial policy is

00:04:08.180 and what their energy policy is going to drive this country

00:04:11.440 into the greatest depression it's ever had.

00:04:14.400 Dave Walsh, tell me about what Biden,

00:04:16.180 the radical move Biden made this week.

00:04:17.860 You know, the administration is reeling from demand for EVs is languishing.

00:04:23.140 We've had all the major producers now cut back their investment plans

00:04:26.460 and production plans for EVs.

00:04:28.980 GM, BMW, Mercedes, all of them cutting back their investment plans

00:04:33.440 because demand on these is languishing.

00:04:36.660 Looks like about 7, 7.5% of new car sales this year will be EVs only.

00:04:41.460 So what they're going to do now is step two,

00:04:45.440 and that is through the EPA make it impossible for people

00:04:49.040 to buy anything but these legally by 2032

00:04:52.220 by mandating the most aggressive tailpipe emission standards possible

00:04:56.880 to make it costly as could be to buy gas-powered vehicles.

00:05:02.720 So this week the EPA came out with its final regulations

00:05:06.000 announced early last year by intent

00:05:07.840 with the goal and objective of limiting creating 56% of new car sales

00:05:14.040 by 2032 being electric vehicles or hybrids.

00:05:18.280 So they've shaped environmental policy, the EPA,

00:05:21.240 around a car buying preference on vehicles

00:05:24.940 instead of around chemistry and science,

00:05:27.620 which is the arena they're supposed to be playing in.

00:05:30.580 And if you look at A.G. Patrick Morrissey from West Virginia,

00:05:33.600 SCOTUS victory last year on the Clean Power Plan,

00:05:35.940 setting it aside from the Obama era,

00:05:39.060 that was about overreach of the EPA getting way beyond its mission goal

00:05:43.880 and objective in creating energy policy

00:05:46.220 to shut coal plants down on the Clean Power Plan.

00:05:49.500 Well, here they're doing the same thing with the tailpipe emissions

00:05:52.120 to make it more and more commercially and economically infeasible

00:05:57.360 for Americans to afford to buy gas-powered vehicles.

00:06:00.740 And the boilerplate of this EPA reg says that.

00:06:04.160 That's the purpose of it,

00:06:05.620 which patently runs against SCOTUS ruling on the Clean Power Plan.

00:06:09.160 So this is a disaster.

00:06:10.360 This would have us convert 56% of new car buys,

00:06:14.160 which are now 7% and 7.5% now,

00:06:17.400 to EVs by 2032 as its goal and objective.

00:06:22.400 The nation has no lithium batteries supply,

00:06:24.760 has no lithium processing supply whatsoever.

00:06:26.740 They can't give the electrical vehicles away,

00:06:30.620 and it gets worse every year.

00:06:32.080 It's blown out.

00:06:33.720 The CO Hearst is gone.

00:06:35.240 The COs are getting fired because they win EV.

00:06:37.860 Nobody wants to win the rental car.

00:06:39.560 Nobody wants to rent them.

00:06:40.580 They can't sell them because they're a third of the price.

00:06:42.720 This is a disaster.

00:06:43.700 This is another example of the puppets in Washington

00:06:47.020 bailing out the lords of easy money on Wall Street

00:06:50.240 in the Silicon Valley oligarchs.

00:06:52.640 This is the game,

00:06:53.560 and that's what this budget is full of.

00:06:57.420 They don't do anything in this to address,

00:07:00.200 they don't do anything in this bill to address

00:07:02.440 full-spectrum energy dominance, do they, sir?

00:07:06.040 No, the incentives aren't working on these vehicles.

00:07:08.740 The fact that there are nearly 70% incentive

00:07:11.140 to the OEMs and buyers

00:07:13.300 aren't working in creating demand.

00:07:15.680 Therefore, they're going to draconian penalties

00:07:18.520 for buying gas-powered vehicles.

00:07:20.320 No, they're doing nothing about all-in energy supply.

00:07:23.900 No, we have Axios coming out today

00:07:25.700 that, oh, global major oil companies

00:07:28.340 aren't keeping up with the Paris Climate Accords

00:07:31.760 and the UN COP28 standards.

00:07:34.680 They fail to recognize, for example,

00:07:37.200 that 70% of global oil capacity

00:07:39.780 is owned by governments.

00:07:42.540 CNAC in China, Pemex in Mexico,

00:07:46.000 the company in Brazil, Petrobras,

00:07:48.220 Gazprom in Russia, the PLN in Indonesia,

00:07:51.720 70% of global oil capacity

00:07:53.880 is owned by governments.

00:07:55.880 So their point really is wrong.

00:07:57.360 Governments are the ones

00:07:58.460 not going along with these edicts

00:08:00.720 because 70% of the world's population

00:08:02.920 is developing, economically growing,

00:08:05.640 and not into this save-the-planet,

00:08:08.080 low-nox, low-carbon emissions mantra at all,

00:08:13.440 but seeking ways and means of growing.

00:08:15.480 And the idea here is not that oil companies

00:08:18.480 don't cause the problem.

00:08:19.740 Demand by human beings is the issue

00:08:22.700 for more oil and gas.

00:08:25.940 They don't want...

00:08:27.800 This industrial policy is no growth.

00:08:30.340 Net zero carbon is net zero growth

00:08:32.700 for the United States.

00:08:34.440 Dave, where do people go to get

00:08:35.660 all the analysis you put up?

00:08:38.300 You can find me on Getter and Truth Social

00:08:39.940 at Dave Walsh Energy.

00:08:41.100 Thank you, Steve.

00:08:41.580 Amazing.

00:08:44.760 Today of all days,

00:08:46.080 with all these radical energy plans

00:08:47.800 and this budget is rife with them.

00:08:49.960 They're going to go through the vote right now,

00:08:51.400 so we'll be able to pick out

00:08:52.500 who are the traitors. 0.81

00:08:53.720 That's what they are.

00:08:54.900 They're traitors.

00:08:55.500 They come back to your district 0.51

00:08:56.480 and ask for money.

00:08:58.000 If you fund it,

00:08:58.940 then you deserve it.

00:09:00.360 And you ought to figure out

00:09:01.900 who in your district is funding this.

00:09:03.660 The Chamber of Commerce

00:09:04.560 and who else are funding these guys.

00:09:06.860 Because this is a vote

00:09:07.960 against the American people.

00:09:09.060 This is a vote against you.

00:09:11.460 Jim Rickards joins us.

00:09:13.060 We have Jim up.

00:09:13.680 Jim, Strategic Intelligence,

00:09:15.560 just a question.

00:09:16.800 They're going to codify today

00:09:18.980 or over the weekend

00:09:20.020 a bill that basically has

00:09:21.780 $2 trillion deficit in it.

00:09:24.220 We're running up $1 trillion

00:09:25.400 every 100 days.

00:09:27.420 How long is this going to be sustainable

00:09:29.060 until you see a collapse?

00:09:32.960 Well, collapse is a good term, Steve,

00:09:35.240 but actually it plays out

00:09:36.680 in different markets,

00:09:37.700 and that's what you have to look for.

00:09:39.200 The number one market

00:09:40.200 would be the foreign exchange market.

00:09:42.340 Also, you could see higher interest rates

00:09:44.300 in the treasury market.

00:09:45.940 Now, there are some

00:09:46.760 countervailing forces here.

00:09:48.700 Look, long run,

00:09:49.720 this is a disaster.

00:09:51.060 Non-sustainable,

00:09:52.340 that's certainly the case.

00:09:54.360 In the short run,

00:09:55.300 there is a global dollar shortage going on.

00:09:57.980 So you see people like China 1.00

00:09:59.360 selling treasury securities.

00:10:01.420 Does that mean they want

00:10:02.160 to dump the treasuries? 1.00

00:10:03.140 No, it means they need cash.

00:10:04.580 They need dollars

00:10:05.700 to bail out their banks,

00:10:07.000 and that's going on

00:10:07.700 all over the world.

00:10:08.420 So on the one hand,

00:10:10.060 you have a U.S. fiasco

00:10:12.140 being set up

00:10:12.940 by deficits and debt,

00:10:15.400 exactly what you described.

00:10:16.700 On the other hand,

00:10:17.940 there's a dollar shortage going on

00:10:19.600 because banks are

00:10:21.760 reining in their balance sheets.

00:10:23.300 It's really,

00:10:24.420 you can look at the treasury

00:10:25.420 and you can look at

00:10:26.160 the national debt.

00:10:28.040 Those are long-run disasters,

00:10:29.660 no question about it.

00:10:30.860 But in the short run,

00:10:32.100 you have to look at

00:10:32.820 the commercial banks,

00:10:33.880 you have to look at

00:10:34.260 the big banks,

00:10:34.920 Citibank,

00:10:35.500 Morgan Stanley,

00:10:36.080 Goldman,

00:10:37.000 UBS,

00:10:38.100 Deutsche Bank,

00:10:39.320 et cetera,

00:10:39.920 what they're doing.

00:10:40.900 And they're actually

00:10:41.400 reducing their balance sheet,

00:10:43.080 making higher collateral demands.

00:10:45.200 So this could be

00:10:46.380 the worst of both worlds,

00:10:47.480 where on the one hand,

00:10:48.780 we go into a recession,

00:10:50.180 a bad one,

00:10:51.240 because banks

00:10:52.840 are reducing liquidity

00:10:54.840 and reducing their balance sheets.

00:10:56.300 On the other hand,

00:10:57.500 we have a non-sustainable situation

00:10:59.200 in the long run.

00:11:00.200 The history of excessive debt,

00:11:02.180 and that's what we have,

00:11:03.460 no question about it.

00:11:04.840 It doesn't automatically lead

00:11:07.160 to like an overnight disaster.

00:11:08.560 What it does lead to

00:11:09.440 is kind of worse in some ways,

00:11:11.160 which is just slow growth.

00:11:12.980 Not enough growth,

00:11:13.960 more debt,

00:11:15.540 and again,

00:11:17.200 given all the problems

00:11:17.840 in the U.S.,

00:11:18.620 we need 3%,

00:11:19.560 3.5% growth.

00:11:20.620 We're barely getting to,

00:11:21.680 and we're probably

00:11:22.320 going into recession.

00:11:23.380 So I don't minimize

00:11:24.680 the problem at all.

00:11:26.420 I'm just making the point

00:11:27.360 that it plays out

00:11:28.220 in different ways

00:11:29.140 in terms of the exchange rate,

00:11:30.600 interest rates,

00:11:31.800 and a recession.

00:11:35.260 But right now,

00:11:36.080 if you look at really

00:11:36.760 even the CBO numbers,

00:11:38.580 the growth is 1% to 1.5%,

00:11:40.840 right?

00:11:41.640 Projected growth.

00:11:42.420 So if you need

00:11:43.320 3% to 3.5%

00:11:44.180 to keep a vibrant,

00:11:45.020 just a minimum

00:11:45.880 of a vibrant economy,

00:11:47.300 you keep adding on this debt.

00:11:49.580 My point is,

00:11:50.000 people say it's long-term

00:11:51.080 before it's not sustainable.

00:11:52.660 As long as,

00:11:53.500 if you consider

00:11:54.480 a vibrant,

00:11:55.340 robust economy,

00:11:56.880 this is what's crushing

00:11:57.980 this right now,

00:11:58.700 you basically have

00:12:00.760 put on yourself

00:12:02.160 the lost decades

00:12:03.120 that the Japanese had 1.00

00:12:04.220 by your own hand.

00:12:05.640 This is a Republican-controlled

00:12:06.920 House.

00:12:07.860 They're the ones

00:12:08.700 that are going to push

00:12:09.220 this bill over the top today.

00:12:10.820 Of course,

00:12:11.180 we know the Democrats

00:12:11.940 are so radical.

00:12:12.680 Is their vote

00:12:13.120 going to push it on?

00:12:14.320 It's already got

00:12:14.980 Pelosi plus spending.

00:12:18.380 We're not getting

00:12:19.320 off the trajectory

00:12:20.260 of getting to the $50 trillion.

00:12:22.900 And at the same time,

00:12:24.400 the low growth means

00:12:25.460 that their projections

00:12:26.260 are wrong

00:12:26.780 because the tax revenue

00:12:27.780 is not going to be there.

00:12:28.840 You're going to have

00:12:29.400 not five trillion

00:12:30.180 tax collections.

00:12:31.540 You're going to have

00:12:32.120 the four to four and a half

00:12:33.020 trillions,

00:12:33.380 so you're going to add

00:12:33.800 another $500 billion

00:12:34.960 to another trillion dollars.

00:12:36.680 This is,

00:12:37.940 it's condemning

00:12:39.260 not simply

00:12:40.740 future generations,

00:12:42.220 Jim,

00:12:42.360 but don't you think

00:12:42.820 it's condemning

00:12:43.380 people today

00:12:44.260 to be in a no-growth

00:12:45.780 environment

00:12:46.280 with no real wage

00:12:47.400 increases,

00:12:48.720 no abilities to invest

00:12:50.180 and things are going

00:12:50.720 to be growth?

00:12:52.380 That's exactly right,

00:12:54.100 Stephen.

00:12:54.300 You're right about

00:12:54.840 the growth of the debt.

00:12:56.040 What you have to do

00:12:56.640 is look at two ratios.

00:12:58.580 One is how fast

00:12:59.480 is the debt growing

00:13:00.320 and then how fast

00:13:01.480 is the economy growing?

00:13:03.220 Now,

00:13:03.500 if the economy's

00:13:04.140 growing faster

00:13:04.660 than the debt,

00:13:05.420 you know,

00:13:05.820 no one likes

00:13:06.600 that much debt,

00:13:07.200 but that is

00:13:08.300 a sustainable situation.

00:13:09.560 We have the opposite.

00:13:10.700 The debt's growing

00:13:11.460 faster than the economy.

00:13:12.620 In fact,

00:13:13.500 the little economic growth

00:13:14.580 we have

00:13:15.140 is attributable

00:13:16.300 to the deficits.

00:13:17.260 It's government spending,

00:13:18.260 it's fiscal policy.

00:13:19.440 Everybody wants

00:13:20.040 to blame the Fed.

00:13:20.840 I'm as big a critic

00:13:22.480 of the Federal Reserve

00:13:23.980 as you'll find,

00:13:25.060 but this is not

00:13:25.740 being caused

00:13:26.260 by so-called

00:13:26.920 money printing.

00:13:27.700 The Fed's actually

00:13:28.220 not printing money

00:13:29.000 right now.

00:13:29.460 They're reducing

00:13:30.300 the money supply.

00:13:31.440 It is being caused

00:13:32.200 by fiscal policy,

00:13:33.360 deficit spending,

00:13:34.220 exactly what you described.

00:13:35.640 You can't borrow

00:13:36.480 your way out of

00:13:37.100 a debt crisis.

00:13:38.140 So to the extent

00:13:39.480 we get a little growth,

00:13:40.180 if we borrow money

00:13:41.040 and spend money,

00:13:42.520 you get a little growth,

00:13:43.440 but you don't get

00:13:44.140 as much growth

00:13:44.980 as the amount

00:13:46.120 you borrowed.

00:13:46.800 In other words,

00:13:47.360 you're just getting

00:13:48.040 into a deeper

00:13:48.600 and deeper hole.

00:13:49.780 So again,

00:13:50.460 is this sustainable?

00:13:51.340 No.

00:13:51.620 Is it good?

00:13:52.180 No.

00:13:52.740 I completely agree

00:13:53.520 with that.

00:13:53.960 But the real penalty

00:13:55.620 on Americans,

00:13:56.420 and you alluded to this,

00:13:58.280 is slow growth,

00:13:59.480 declining real wages.

00:14:00.880 And then there's

00:14:01.260 another factor

00:14:02.000 put on top of that,

00:14:02.860 which is pretty bad,

00:14:03.960 which is the income

00:14:04.760 distribution.

00:14:05.920 The growth that we do

00:14:07.100 have is heavily,

00:14:08.220 heavily skewed

00:14:09.020 to a very thin slice

00:14:10.820 of the population.

00:14:11.700 I'm not saying,

00:14:12.340 you know,

00:14:12.900 we need to redistribute

00:14:13.980 the wealth.

00:14:14.760 I'm saying we need

00:14:15.440 to get rid of regulation,

00:14:16.580 reduce taxes,

00:14:17.380 reduce debt,

00:14:18.420 do things so that

00:14:19.140 everyone can prosper.

00:14:21.180 So when you look

00:14:22.560 at averages,

00:14:23.160 you say,

00:14:23.440 gee,

00:14:23.640 growth is really slow,

00:14:24.660 real wages are going down.

00:14:26.020 That's bad.

00:14:27.020 But when you look

00:14:27.600 at what's called

00:14:28.300 the degree distribution,

00:14:29.520 we'll take that number,

00:14:30.600 which is just an average,

00:14:31.920 and spread it out

00:14:32.680 among the entire population

00:14:33.940 and look at how

00:14:34.920 different echelons,

00:14:36.820 different tranches

00:14:37.400 are doing.

00:14:38.420 It's very heavily skewed

00:14:39.840 to the highest income people.

00:14:41.300 So for everyday Americans,

00:14:42.640 it's even worse

00:14:43.540 than the numbers indicated

00:14:45.020 because they're on the wrong

00:14:46.020 end of the distribution.

00:14:46.920 Jim,

00:14:49.540 hang on for one second.

00:14:50.340 We're getting to more

00:14:50.880 of that.

00:14:51.300 Dave Bratz with us.

00:14:52.200 They're voting right now.

00:14:53.200 We'll try to get to it all.

00:14:55.340 Short commercial break.

00:14:59.520 Now that we are launching

00:15:00.700 into the general election season,

00:15:02.720 Patriot Mobile wants to celebrate

00:15:04.240 with a very special offer,

00:15:06.740 just in case you haven't made

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00:16:47.620 Action.

00:16:48.520 Action.

00:16:49.240 Action.

00:16:50.220 Host,

00:16:51.020 Stephen K.

00:16:51.760 Bannon.

00:17:02.720 We are doing

00:17:03.720 so much

00:17:04.560 between segments here.

00:17:07.440 MTG.

00:17:08.500 There's reports

00:17:09.280 on the floor

00:17:09.980 that MTG

00:17:10.980 has passed

00:17:12.000 the parliamentarian

00:17:12.920 some paper

00:17:13.720 and the rumor

00:17:14.520 has it

00:17:15.000 that this may be

00:17:16.620 a motion

00:17:17.820 to vacate.

00:17:19.540 Brian Glenn,

00:17:20.740 who knows her

00:17:21.860 very well,

00:17:23.060 is saying,

00:17:23.860 stand by.

00:17:24.400 So this could be

00:17:25.000 a pretty dramatic

00:17:26.400 turn of events.

00:17:29.100 She warned about

00:17:29.740 that on the show.

00:17:30.900 The first thing

00:17:31.360 she said,

00:17:31.760 stay tuned.

00:17:32.940 So we want

00:17:33.480 everybody up

00:17:33.840 on our social media

00:17:34.560 to check it out.

00:17:35.120 I think people

00:17:35.480 just had a belly

00:17:36.220 full of this.

00:17:37.260 They want to hold

00:17:37.840 some accountability

00:17:38.460 that this is unacceptable.

00:17:40.020 This bill is horrible.

00:17:41.120 And they're sitting there

00:17:41.640 trying to pitch,

00:17:42.840 oh,

00:17:43.200 this is a national security bill

00:17:44.540 or,

00:17:44.840 oh,

00:17:45.020 this is taking money away,

00:17:47.880 a couple billion dollars

00:17:48.900 from the UN

00:17:49.740 that's been so horrible

00:17:51.020 in Gaza.

00:17:51.460 It's got a few

00:17:53.460 shiny toys like that,

00:17:56.980 as we call them.

00:17:58.500 But this exacerbates

00:17:59.920 underwrites and funds

00:18:01.040 the invasion of the southern border.

00:18:01.940 It doesn't even come close

00:18:03.060 to shutting down

00:18:04.600 the border.

00:18:06.320 Not even close.

00:18:07.620 It's exacerbating

00:18:08.620 what you saw yesterday

00:18:09.460 and the bum rush

00:18:10.280 of those.

00:18:11.440 And you're going to see

00:18:11.940 more of that.

00:18:13.120 You said,

00:18:13.600 hey,

00:18:13.760 that looks like Italy,

00:18:14.800 that looks like Greece,

00:18:15.620 it looks like Spain,

00:18:16.480 it looks like what's happening

00:18:17.300 coming up from North Africa

00:18:18.440 and Central Africa

00:18:19.160 and the Middle East.

00:18:20.320 You're going to have this

00:18:21.240 you're going to have

00:18:22.200 this nonstop.

00:18:23.500 And you saw the National Guard

00:18:24.760 is not prepared

00:18:25.260 to do anything about it.

00:18:26.120 Those guys are in harm's way.

00:18:28.100 They're not armed.

00:18:29.800 They essentially just

00:18:30.760 kind of opened the gate

00:18:31.540 and said,

00:18:31.860 okay,

00:18:32.060 come on in.

00:18:32.680 And I'm not,

00:18:33.200 I'm not denigrating

00:18:34.820 their activity,

00:18:35.760 but they're not empowered

00:18:37.140 by Abbott or anybody

00:18:38.260 to stop anything.

00:18:39.840 They're not.

00:18:41.020 And the courts have,

00:18:42.180 and the courts have overruled

00:18:43.440 what General Pax and Abbott

00:18:44.560 have tried to do.

00:18:46.160 So Biden's on the fix.

00:18:47.560 And remember,

00:18:48.360 the Uniparty

00:18:49.180 are just puppets.

00:18:50.020 The puppet masters

00:18:51.540 and the pay masters

00:18:52.400 are on Wall Street,

00:18:53.540 are on the lords

00:18:55.080 of easy money

00:18:55.760 on Wall Street,

00:18:57.880 the corporatist,

00:18:59.400 both the American

00:19:00.140 and the multinationals,

00:19:01.580 and of course,

00:19:02.580 your sociopathic

00:19:04.340 tech overlords

00:19:06.320 in the new tech feudalism.

00:19:08.220 Because this is not capitalism,

00:19:09.200 this is feudalism.

00:19:10.860 And you're the serfs.

00:19:12.960 You're the serfs.

00:19:14.020 You're the new Russian serfs. 0.99

00:19:15.860 That's what you are.

00:19:16.520 Jim Rickards,

00:19:18.140 this entire process,

00:19:19.360 you've got Trump

00:19:19.960 and CNN's just announcing

00:19:21.780 Letitia James

00:19:22.560 making bold moves

00:19:23.860 right now

00:19:24.520 to seize his assets.

00:19:27.820 With the same time,

00:19:28.900 Fannie Willis said,

00:19:29.720 hey,

00:19:29.980 I don't care what people

00:19:30.780 are saying,

00:19:31.280 I'm running this trial,

00:19:32.220 we're going to go to court,

00:19:33.440 we're going to go to trial

00:19:34.400 before election day.

00:19:35.900 She doesn't care 1.00

00:19:36.360 if she's got him in trial

00:19:37.500 August,

00:19:39.160 September,

00:19:39.720 October.

00:19:40.780 Your thoughts

00:19:41.560 of where we stand

00:19:42.240 right now

00:19:42.840 from a macro point of view

00:19:44.660 and geopolitical point of view,

00:19:45.820 sir?

00:19:47.020 Well,

00:19:47.480 we're destroying

00:19:48.360 the rule of law.

00:19:49.140 I happen to have

00:19:49.960 two law degrees,

00:19:51.100 but I was fortunate

00:19:51.660 to go to law school

00:19:52.560 at a time

00:19:52.980 when people still

00:19:54.060 respected this,

00:19:54.920 but they respected the law.

00:19:56.720 There were things

00:19:57.240 like prosecutorial discretion,

00:20:00.220 prosecutorial restraint,

00:20:02.080 judicial restraint,

00:20:03.440 just because you could

00:20:04.420 stretch a law

00:20:05.100 or interpret it

00:20:05.680 a certain way

00:20:06.240 or apply it unfairly,

00:20:08.100 select your prosecution,

00:20:09.220 you never did those things.

00:20:10.480 People understood

00:20:11.300 that the rule of law

00:20:12.000 was beneficial,

00:20:13.180 but it was also fragile.

00:20:14.340 And if you trashed it,

00:20:16.080 what do you end up with?

00:20:17.080 You don't end up,

00:20:17.860 you know,

00:20:18.040 you get some short-term

00:20:18.900 victories maybe,

00:20:19.720 although I think

00:20:20.900 Trump's going to have

00:20:21.480 the last laugh

00:20:22.120 with this three and a half

00:20:23.420 billion on truth social.

00:20:25.140 But that said,

00:20:26.020 what do you end up with

00:20:26.840 are vigilantes.

00:20:28.320 Once you trash

00:20:29.240 the rule of law,

00:20:30.260 you don't end up

00:20:31.040 with law your way,

00:20:32.280 you end up with no law.

00:20:33.680 And that's just another

00:20:34.980 kind of erosion

00:20:36.180 of the social fabric.

00:20:38.160 I would expect

00:20:39.660 significant riots

00:20:41.080 in August in Chicago

00:20:42.340 at the Democratic Convention.

00:20:44.320 I'm recommending people

00:20:45.480 read Norman Mailer's book

00:20:46.560 from 1968,

00:20:48.180 Miami and the Seas of Chicago.

00:20:49.980 We could see a replay

00:20:51.240 of that 1968

00:20:52.180 Chicago Convention,

00:20:53.760 Democrats versus Democrats,

00:20:55.220 except it'll be

00:20:56.040 the anti-Semites,

00:20:57.560 the Antifas,

00:20:58.660 the BLM crowd

00:21:00.620 against the Democrats

00:21:02.000 themselves,

00:21:02.800 not against the Republicans.

00:21:04.020 And then that kind of

00:21:06.740 tearing the social fabric

00:21:07.860 has huge consequences.

00:21:10.280 Steve, if I could just

00:21:11.000 drop one footnote

00:21:11.760 to the earlier part

00:21:12.560 of the discussion,

00:21:13.260 you pointed to the

00:21:14.260 debt and deficit situation.

00:21:16.400 Pardon me.

00:21:17.000 You said it was

00:21:17.460 non-sustainable.

00:21:18.160 I agree with that.

00:21:19.560 But I said it would be

00:21:20.580 a slow grind down,

00:21:22.320 really unfair to Americans,

00:21:23.760 rather than an

00:21:24.660 overnight collapse.

00:21:25.380 However, there is one thing

00:21:26.620 that could accelerate us

00:21:28.160 towards a collapse.

00:21:29.300 I think it's the biggest

00:21:30.040 story out there

00:21:30.720 and it's getting

00:21:31.280 almost no attention,

00:21:33.040 which is this

00:21:33.820 seizure

00:21:34.700 of the Russian assets,

00:21:36.580 $300 billion

00:21:37.680 of Russian assets.

00:21:40.060 Russia sold oil,

00:21:41.280 got dollars,

00:21:41.960 took the dollars,

00:21:42.660 bought treasury securities

00:21:43.860 in reliance on

00:21:45.260 U.S. rule of law

00:21:46.140 and U.S. credit.

00:21:48.060 And the U.S.

00:21:48.800 froze those assets

00:21:50.100 at the outbreak

00:21:51.240 of the special military

00:21:52.160 operation two years ago.

00:21:54.020 But now,

00:21:54.720 what they want to do,

00:21:55.440 freezing happens a lot.

00:21:56.960 We do it to,

00:21:57.640 you know,

00:21:58.000 North Korea, Iran,

00:21:58.820 Syria, Cuba,

00:21:59.560 a lot of other countries.

00:22:00.820 But now what they want to do

00:22:01.740 is seize them.

00:22:02.600 That means steal them.

00:22:03.820 And use the money

00:22:05.060 to actually pay

00:22:06.480 for the war against Russia.

00:22:07.720 Use their own money

00:22:08.500 that they earned

00:22:09.180 and they own legally

00:22:10.240 to pay for the war

00:22:11.200 against Russia.

00:22:12.200 That got a lot of attention

00:22:13.440 last fall,

00:22:14.160 but the story faded away.

00:22:16.440 It is alive and well.

00:22:17.700 They are pushing this

00:22:18.780 as hard as they can.

00:22:20.180 The D-Day looks like June,

00:22:22.560 this June,

00:22:23.160 just a couple months away.

00:22:25.560 They're talking about

00:22:26.340 all kinds of variations.

00:22:27.440 So one plan is,

00:22:28.780 well,

00:22:28.920 we won't take all the principle,

00:22:30.700 but we'll take the interest.

00:22:32.060 Well,

00:22:32.200 I'm sorry,

00:22:32.500 the interest is $3 billion a year

00:22:35.600 times two years.

00:22:36.380 That's $5 or $6 billion.

00:22:38.740 They're talking about

00:22:39.720 doing a $60 billion loan,

00:22:42.360 $60 billion,

00:22:43.740 collateralized by the Russian assets.

00:22:45.660 So,

00:22:45.820 of course,

00:22:46.500 Ukraine will default on the loan

00:22:48.000 and then those assets

00:22:49.160 will be handed over

00:22:49.860 to the creditors.

00:22:50.980 There are all kinds of,

00:22:51.720 you know,

00:22:52.100 crazy workarounds,

00:22:53.020 but they all amount

00:22:53.600 to the same thing,

00:22:54.720 outright theft.

00:22:55.660 No one that I can see,

00:22:57.180 and by the way,

00:22:57.540 Mike Johnson,

00:22:58.720 okay,

00:22:59.620 so far so good.

00:23:00.400 We'll see about this

00:23:01.120 vacate petition,

00:23:04.300 if that's what's happening.

00:23:05.720 But he's on board with this.

00:23:07.600 He doesn't understand

00:23:08.700 the consequences of this.

00:23:10.400 And everyone's saying,

00:23:11.220 yeah,

00:23:11.520 you know,

00:23:11.800 it's reparations.

00:23:12.840 Well,

00:23:13.240 usually the guy

00:23:13.940 who gets reparations

00:23:14.820 is the guy

00:23:15.360 who won the war.

00:23:16.740 Well,

00:23:16.880 Russia's winning.

00:23:18.060 Russia's going to say, 0.80

00:23:18.920 pay us reparations.

00:23:20.660 But here's the point.

00:23:21.560 As soon as this happens,

00:23:23.220 you're going to see

00:23:23.800 countries around the world

00:23:25.000 fading the U.S.

00:23:26.280 treasury markets,

00:23:27.140 saying,

00:23:27.360 hey,

00:23:27.520 if they did it to Russia,

00:23:28.700 they can do it to me,

00:23:29.620 number one.

00:23:30.480 Number two,

00:23:30.960 Russia is going to turn around 0.88

00:23:32.160 and seize several hundred

00:23:34.180 billion dollars of assets

00:23:35.760 in Russia,

00:23:37.100 owned by France,

00:23:38.380 Germany.

00:23:38.840 I mean,

00:23:38.960 they've got oil,

00:23:40.420 they've got refineries,

00:23:42.540 they've got all kinds

00:23:43.400 of businesses

00:23:43.920 which have not been

00:23:45.200 taken over

00:23:45.760 that are still there.

00:23:47.680 So,

00:23:48.100 this is a significant

00:23:49.760 escalation

00:23:50.600 in the financial war

00:23:52.120 that's going on

00:23:52.920 side by side

00:23:53.480 with the kinetic war.

00:23:54.840 It's a significant

00:23:56.260 reduction,

00:23:57.380 diminution

00:23:57.860 in U.S.

00:23:59.000 credit quality.

00:23:59.980 That's the kind of thing

00:24:00.880 that could produce 0.82

00:24:01.920 radical overnight

00:24:02.800 consequences.

00:24:04.620 And again,

00:24:05.440 no one's really

00:24:06.260 looking for it.

00:24:06.780 But the reason,

00:24:07.660 they're targeting

00:24:08.080 June,

00:24:08.440 July because you have

00:24:09.120 a G7 meeting

00:24:10.100 coming up

00:24:10.700 and you have

00:24:11.360 a NATO meeting

00:24:12.160 coming up

00:24:12.740 and they want

00:24:13.220 to get it done

00:24:13.700 before those meetings.

00:24:14.560 But the Biden White House

00:24:15.700 has not backed away

00:24:16.660 from this.

00:24:17.160 They're still pursuing

00:24:18.420 it as hard as they can.

00:24:21.260 This is,

00:24:22.160 remember,

00:24:22.620 what Johnson said

00:24:23.740 is that after they

00:24:24.680 get this fiasco

00:24:25.700 passed today

00:24:26.440 and fund this government,

00:24:27.560 he's coming back

00:24:28.320 because he keeps

00:24:28.920 patting us on the head

00:24:31.300 about border security.

00:24:32.360 He says the border security

00:24:33.080 is going to be

00:24:33.500 in the supplemental.

00:24:34.580 They're going to come back

00:24:35.340 with the $60 billion.

00:24:36.620 If we defeat that,

00:24:37.640 which it must be defeated,

00:24:39.220 they're going to go

00:24:39.720 to this alternative plan.

00:24:42.060 You're saying right now,

00:24:43.400 your belief is,

00:24:44.420 this de-dollarization

00:24:45.900 movement that's already

00:24:46.700 started will really

00:24:48.180 go next level

00:24:49.060 because people will say,

00:24:49.880 hey, look,

00:24:50.280 if they could take

00:24:50.980 the Russians,

00:24:51.860 and we do freeze

00:24:52.560 assets all the time.

00:24:53.360 We freeze the mullahs

00:24:54.360 in Persia

00:24:55.140 for years and years and years.

00:24:57.420 That's why Biden

00:24:58.220 was able to give them

00:24:58.860 some of the cash back.

00:25:00.100 But you're saying

00:25:00.500 if we actually seize it,

00:25:01.660 now they're talking

00:25:02.200 about backing these bonds

00:25:03.400 to actually issue

00:25:04.140 liberty bonds

00:25:05.240 or whatever they're

00:25:05.780 talking about.

00:25:06.700 If we seize their assets

00:25:08.540 and essentially turn them

00:25:09.580 over to Ukrainians,

00:25:11.020 this will actually explode

00:25:13.060 this de-dollarization

00:25:14.120 movement to people

00:25:14.840 say, no,

00:25:15.300 we can't trust

00:25:15.940 putting it in,

00:25:16.700 you know,

00:25:17.180 treasury securities

00:25:18.160 that we're buying

00:25:19.180 from the Americans.

00:25:20.280 To leave them

00:25:21.240 in American

00:25:22.440 money-centered banks

00:25:23.580 because they could

00:25:24.060 always just take them.

00:25:24.920 Is that your point?

00:25:26.260 That's right.

00:25:26.900 And by the way,

00:25:27.340 most of these Russian assets

00:25:28.500 that we're talking about,

00:25:29.820 they're not in a bank.

00:25:30.840 They're in something

00:25:31.160 called Euroclear,

00:25:32.280 not to get too technical,

00:25:33.320 but it's a big

00:25:33.900 European clearinghouse.

00:25:35.420 It's based in Belgium.

00:25:36.500 They're heavily

00:25:37.060 concentrated there.

00:25:38.720 Euroclear wanted

00:25:39.300 no part of this.

00:25:40.120 They're like,

00:25:40.420 hey, we got a business.

00:25:41.200 We have a reputation.

00:25:42.040 We don't want to do this.

00:25:43.240 But Olaf Scholz,

00:25:44.720 the chancellor of Germany,

00:25:46.860 Macron,

00:25:47.440 Manuel Macron,

00:25:48.260 the president of France,

00:25:49.180 Rishi Sunak,

00:25:51.080 the prime minister of the UK,

00:25:51.860 they're all on board

00:25:53.060 with this.

00:25:53.980 Yellen has no clue.

00:25:55.440 She doesn't really

00:25:55.860 understand it,

00:25:56.520 but she's pushing it.

00:25:58.880 So it's going to happen.

00:26:01.180 The BRICS currency train

00:26:02.980 has already left the station.

00:26:04.920 Sergey Lavrov,

00:26:05.680 the Russian prime minister,

00:26:06.560 has given some very

00:26:07.660 specific clues

00:26:09.360 as to how they're going

00:26:10.000 to structure

00:26:10.380 the BRICS currency.

00:26:11.500 It'll take a couple more years,

00:26:12.720 but that's going to accelerate.

00:26:14.760 And by the way,

00:26:15.320 you say,

00:26:15.760 well,

00:26:16.320 gee,

00:26:16.760 if I can't trust

00:26:17.820 U.S. treasuries,

00:26:19.340 are German,

00:26:20.460 Italian,

00:26:21.040 Japanese bonds,

00:26:21.700 are they any better?

00:26:22.780 No.

00:26:23.500 They're all part

00:26:24.020 of the collective West.

00:26:25.020 They're all in this together.

00:26:26.640 You don't want

00:26:27.120 any of those bonds.

00:26:28.120 If you want to know

00:26:28.760 how the dollar is doing,

00:26:30.280 don't look at

00:26:31.100 foreign exchange rates,

00:26:32.540 you know,

00:26:32.720 dollar,

00:26:33.760 Swiss franc,

00:26:34.720 dollar,

00:26:35.300 sterling.

00:26:36.080 Forget that.

00:26:36.820 Because they're all

00:26:37.720 in the same boat.

00:26:38.540 They're all in the same lifeboat.

00:26:39.580 They're all currencies.

00:26:40.540 You have to look

00:26:41.160 at the dollar price of gold.

00:26:42.980 That's the thing

00:26:43.700 that tells you

00:26:44.180 how the dollar

00:26:44.680 is actually doing.

00:26:45.720 When I see gold soaring,

00:26:47.040 you know,

00:26:47.180 people who own gold

00:26:48.100 are like,

00:26:48.460 yay,

00:26:48.800 the gold's going up.

00:26:50.220 Actually,

00:26:50.600 what's happening

00:26:51.060 is the dollar's going down.

00:26:53.000 Gold is gold.

00:26:53.660 I think about gold by weight.

00:26:55.640 But if you need more dollars

00:26:57.320 to buy the same weight of gold,

00:26:59.440 your dollar is worth less.

00:27:01.160 So if you say,

00:27:01.780 is the dollar imploding?

00:27:03.100 I would say,

00:27:03.440 yes,

00:27:03.800 it is.

00:27:04.180 It's imploding very quickly,

00:27:05.820 but it doesn't show up

00:27:07.140 in the foreign exchange markets

00:27:08.320 because they're all,

00:27:09.220 you know,

00:27:09.540 they're all fiat currencies.

00:27:10.480 It shows up

00:27:11.400 in the gold market.

00:27:13.760 And I keep saying that.

00:27:15.000 When the guys

00:27:15.400 look at it vis-a-vis

00:27:16.960 all the other currencies,

00:27:18.180 I said,

00:27:18.420 yeah,

00:27:18.580 it's the world's tallest midget. 1.00

00:27:20.180 But when you look at it

00:27:21.000 versus commodities,

00:27:23.380 Jim,

00:27:23.940 hang on for a second

00:27:24.620 because I want to

00:27:25.200 come back to you.

00:27:26.420 I know you get a bounce,

00:27:27.140 but I just want to come back

00:27:27.740 to you shortly the other time

00:27:28.540 about how people

00:27:29.340 get strategic intelligence.

00:27:30.860 But also,

00:27:32.160 you know,

00:27:32.560 MAGA is called

00:27:33.400 the agents of chaos.

00:27:35.600 Trump is called

00:27:36.180 the agent of chaos.

00:27:37.160 Yet the entire post-war

00:27:39.080 international rules-based order

00:27:40.620 is based upon Bretton Woods.

00:27:42.640 And Bretton Woods

00:27:43.220 is based upon

00:27:44.100 a strong,

00:27:45.180 sustainable,

00:27:46.200 price-stable

00:27:47.040 U.S. dollar.

00:27:48.620 And that is what

00:27:49.280 the elites in this country,

00:27:51.080 the elites in this country

00:27:52.040 are the ones that have destroyed.

00:27:53.080 The elites in the country

00:27:53.940 have destroyed

00:27:54.740 the purchasing power

00:27:55.500 of the dollar.

00:27:56.240 Not the working class people, 1.00

00:27:57.680 not MAGA,

00:27:58.300 not the deplorables.

00:27:59.360 They've done this.

00:28:00.760 And one of the ways

00:28:01.440 they're doing it,

00:28:02.400 one of the ways

00:28:02.920 they're doing it,

00:28:03.400 the fiscal,

00:28:03.980 this is fiscal madness

00:28:06.000 you're seeing right here.

00:28:07.160 Fiscal,

00:28:07.660 beyond irresponsibility.

00:28:08.880 This is madness

00:28:09.580 what we're doing today.

00:28:11.140 Okay,

00:28:11.500 short commercial break.

00:28:12.800 Want to make sure

00:28:13.660 when we come back,

00:28:15.280 home title lock.

00:28:16.200 One thing I've got to say

00:28:17.320 is the home title lock.

00:28:19.020 Go to promo code Bannon.

00:28:21.740 Go to promo code Bannon

00:28:22.780 and get the first month free.

00:28:24.580 Home title lock,

00:28:25.240 the combination of

00:28:26.480 cyber and artificial intelligence

00:28:28.620 is coming for you.

00:28:30.240 The title in your home,

00:28:31.680 the hard money lenders,

00:28:32.960 somebody take out a second. 1.00

00:28:35.360 They don't want to hear

00:28:36.060 your tale of woe.

00:28:37.640 They want to see your money.

00:28:38.940 Make sure home title lock.com

00:28:40.420 promo code Bannon.

00:28:41.440 Check it out.

00:28:41.940 Short commercial break.

00:28:43.060 Jim Rickards on the other side.

00:28:49.480 Who can you trust?

00:28:51.400 Government leaders

00:28:52.080 repeatedly fail us.

00:28:53.400 Self-appointed experts

00:28:54.500 have led us astray.

00:28:55.920 Distrust in so-called authorities

00:28:57.600 is spreading like a bad cold.

00:29:00.780 We can't quite shake it.

00:29:02.960 But you are not as powerless

00:29:04.500 as they'd like you to believe.

00:29:06.960 When there's no one

00:29:07.920 to depend on,

00:29:09.180 it's time to rely

00:29:10.120 and depend on yourself.

00:29:11.880 Not sure where to start?

00:29:13.220 Well, try this.

00:29:13.940 Go to mypatriotsupply.com.

00:29:15.720 Grab a four-week

00:29:16.760 emergency food kit

00:29:18.220 from My Patriot Supply

00:29:20.080 for just $60 off.

00:29:23.080 Think about that.

00:29:23.800 $60 off right now.

00:29:25.740 My Patriot Supply

00:29:26.500 has helped millions

00:29:27.940 of American families

00:29:29.480 reach self-reliance.

00:29:31.960 I want you to think about that.

00:29:33.480 Reach self-reliance.

00:29:36.400 These food kits

00:29:37.140 offer meals,

00:29:37.960 drinks,

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00:29:39.340 over 2,000 calories

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00:29:42.480 Sealed inside

00:29:43.180 heavy-duty packaging

00:29:44.240 that lasts

00:29:45.140 up to 25 years

00:29:46.320 in storage.

00:29:47.400 Go to

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00:29:49.400 and protect your future

00:29:50.700 with as many kits

00:29:52.040 as you need.

00:29:52.700 These kits

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00:29:55.460 and arrive

00:29:55.900 in unmarked boxes.

00:29:57.660 With My Patriot Supply,

00:29:59.040 when you order

00:29:59.820 by 3 p.m.,

00:30:00.760 your food kits

00:30:01.640 will ship

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00:30:04.100 Save $60 per kit.

00:30:05.760 That is $60 per kit

00:30:07.420 at mypatriotsupply.com.

00:30:09.860 Take action.

00:30:11.040 Use your agency.

00:30:12.360 Action,

00:30:13.080 action,

00:30:13.740 action.

00:30:14.920 Here's your host,

00:30:16.060 Stephen K. Band.

00:30:18.980 Okay,

00:30:19.580 we're checking the vote.

00:30:20.280 I think we need to get

00:30:21.060 to $290 to bring

00:30:21.880 to the floor,

00:30:22.320 so we'll get to that

00:30:23.140 in a second.

00:30:24.080 MTG has,

00:30:25.000 it's being reported now,

00:30:26.160 Jake Sherman,

00:30:26.720 the team over at Punchbowl,

00:30:28.620 Marjorie Taylor Greene

00:30:29.320 of Georgia,

00:30:29.860 has filed a motion

00:30:30.860 to vacate the chair.

00:30:32.200 So I'm sure

00:30:33.380 this afternoon

00:30:34.000 is going to be

00:30:34.400 a little bit

00:30:34.780 of a firestorm.

00:30:35.600 We're getting more

00:30:36.060 of that

00:30:37.140 in a little while.

00:30:38.600 Dave Brett's

00:30:39.000 still with me.

00:30:39.960 Jim,

00:30:40.380 so we're the agents

00:30:41.620 of chaos.

00:30:43.080 The deplorables,

00:30:44.900 the MAGA,

00:30:45.640 they're the ones

00:30:46.140 that are sowing discord

00:30:48.180 throughout the world,

00:30:49.280 yet it's the elites

00:30:50.240 in this country

00:30:50.960 that have their

00:30:52.180 puppets in Washington,

00:30:53.500 D.C.

00:30:53.760 right now

00:30:54.300 employing fiscal

00:30:57.340 insanity

00:30:58.040 because that's

00:30:59.300 what this is.

00:31:00.500 You're destroying

00:31:01.100 the dollar,

00:31:01.720 you're destroying,

00:31:02.520 and they're now

00:31:03.120 taking radical steps

00:31:04.220 like seizing

00:31:04.820 the Russians' 0.98

00:31:06.260 treasuries,

00:31:07.380 convert them to cash,

00:31:08.240 give them to the Ukrainians.

00:31:09.960 That's only going

00:31:10.520 to break it down.

00:31:11.660 Isn't Bretton Woods

00:31:12.580 the linchpin

00:31:13.520 of the post-war

00:31:14.620 international rules-based order,

00:31:16.140 sir?

00:31:16.260 It is,

00:31:18.080 but there's

00:31:18.540 an interesting

00:31:19.200 kind of dirty

00:31:20.240 little backstory

00:31:21.060 at Bretton Woods.

00:31:22.080 The main U.S.

00:31:23.000 delegate to the

00:31:23.740 Bretton Woods

00:31:24.240 convention

00:31:25.320 turned into a treaty

00:31:26.760 or an agreement

00:31:27.360 in 1944

00:31:28.540 was someone

00:31:29.640 called Harry Dexter White

00:31:31.140 who was sent there

00:31:32.480 by FDR.

00:31:34.000 Harry Dexter White

00:31:34.780 was a Stalinist agent.

00:31:36.440 That's not,

00:31:36.920 you know,

00:31:37.220 speculation.

00:31:38.080 That came out

00:31:38.740 in the 90s

00:31:39.380 once the Soviet Union

00:31:41.200 fell and Russia 0.99

00:31:41.980 opened up the archives.

00:31:43.500 Scholars went in

00:31:44.260 and they proved,

00:31:44.760 they suspected it

00:31:45.520 at the time.

00:31:46.400 He was a Stalinist agent.

00:31:47.880 He was out

00:31:48.380 to destroy

00:31:48.800 the British Empire

00:31:49.560 because remember,

00:31:50.680 John Maynard Keynes

00:31:51.740 wanted a global currency.

00:31:53.640 He called it the Bancor

00:31:54.740 and it would have been

00:31:55.720 linked to gold.

00:31:56.980 But that means

00:31:57.600 that the dollar

00:31:58.160 would have been just,

00:31:59.160 you know,

00:31:59.440 it's an important currency

00:32:00.200 of course,

00:32:00.640 but it would have been

00:32:01.540 like sterling or franc,

00:32:02.580 French francs

00:32:03.220 or Deutsche Marks

00:32:03.880 or anything else.

00:32:04.720 They all would have been,

00:32:05.480 you know,

00:32:05.900 linked to gold

00:32:06.780 at some level

00:32:07.440 but the anchor

00:32:08.520 would have been

00:32:09.080 this Bancor

00:32:10.180 as he called it.

00:32:11.460 Harry Dexter White

00:32:12.220 crushed that,

00:32:13.200 made the dollar

00:32:14.320 linked to gold.

00:32:15.020 All the other currencies 0.89

00:32:15.760 were not linked to gold.

00:32:16.720 They were linked

00:32:17.080 to the dollar

00:32:17.820 and then the dollar

00:32:19.260 was linked to gold

00:32:20.180 which made the dollar

00:32:21.280 the dominant currency

00:32:22.140 of the system.

00:32:23.120 But what that meant

00:32:23.800 is you could never

00:32:24.420 devalue the dollar.

00:32:25.460 I mean,

00:32:25.660 they did.

00:32:26.080 They finally did

00:32:26.720 in 1971

00:32:27.440 when Richard Nixon

00:32:29.100 shut the gold window.

00:32:30.700 But that destroyed

00:32:31.740 Bretton Woods

00:32:32.280 but Keynes had it right

00:32:33.800 in 1944.

00:32:34.760 He said,

00:32:35.380 don't make it the dollar,

00:32:36.160 make it something else.

00:32:36.880 By the way,

00:32:37.820 Harry Dexter White's plan

00:32:39.400 to destroy the British Empire

00:32:40.520 worked.

00:32:41.180 Just look at what happened

00:32:42.460 over the course

00:32:43.120 of the 1950s

00:32:43.960 and 1960s.

00:32:45.360 By 1967,

00:32:46.840 the UK was running around

00:32:48.680 with their tin cup

00:32:49.360 looking for a bailout

00:32:50.180 from the IMF.

00:32:51.280 So we pretty much

00:32:52.280 destroyed that system.

00:32:53.760 We have nothing

00:32:54.220 to replace it.

00:32:55.520 Gold is gone.

00:32:56.460 Gold is there.

00:32:57.920 It's always interesting.

00:32:58.800 The United States

00:32:59.940 has 8,000 metric tons

00:33:01.800 of gold.

00:33:03.120 So if we don't believe

00:33:03.720 in gold,

00:33:04.080 why do we have

00:33:04.480 so much gold?

00:33:05.020 Well, nobody wants

00:33:05.560 to talk about that

00:33:06.340 but the fact is

00:33:07.460 we have the most

00:33:08.120 by far.

00:33:08.560 China is catching up 0.65

00:33:09.640 but we haven't come up

00:33:11.140 with anything

00:33:11.700 to replace

00:33:13.020 the original Bretton Woods

00:33:14.460 in any form

00:33:15.300 except King Dollar

00:33:16.600 but now we're destroying

00:33:18.200 King Dollar

00:33:18.760 and I say,

00:33:19.540 you see,

00:33:19.820 what's the biggest blind spot?

00:33:22.020 Janet Yellen,

00:33:22.900 Joe Biden,

00:33:23.400 the White House,

00:33:24.440 you know,

00:33:24.620 the Congress has said,

00:33:25.420 what's the blind spot?

00:33:27.260 They take the dollar

00:33:28.260 for granted.

00:33:29.200 Like, oh,

00:33:29.560 the dollar will always

00:33:30.400 be king of the...

00:33:31.000 I've had this discussion.

00:33:32.160 I've been in,

00:33:32.540 you know,

00:33:33.900 secure meetings

00:33:35.040 in the Pentagon

00:33:35.600 with Treasury officials

00:33:37.180 and they banged the table.

00:33:38.340 You know,

00:33:38.480 the dollar is the

00:33:39.240 global reserve currency.

00:33:40.580 It always has been

00:33:41.580 and always will be

00:33:42.420 and I said to this guy,

00:33:44.340 David Dollar,

00:33:44.980 I said,

00:33:45.200 David,

00:33:45.440 I feel like I'm

00:33:45.940 in Whitehall in 1913,

00:33:47.800 you know,

00:33:48.020 listening to John Bull

00:33:48.920 talk about sterling

00:33:49.940 and, you know,

00:33:50.760 30 years later,

00:33:51.460 it was done.

00:33:52.420 So they take the dollar

00:33:53.680 for granted.

00:33:54.280 They abuse it.

00:33:55.320 Of course,

00:33:55.740 they shouldn't

00:33:56.180 but they're too blind

00:33:57.220 to see

00:33:57.680 and we are destroying it. 0.68

00:33:59.240 The only question is,

00:34:00.000 is it a slow grind

00:34:01.820 which we're in

00:34:02.640 or a much faster collapse

00:34:05.360 which could come

00:34:06.380 from either the BRICS

00:34:07.300 or the seizure

00:34:08.960 of Russian assets.

00:34:11.520 For our audience

00:34:12.620 that loves this,

00:34:13.860 Strategic Intelligence,

00:34:15.120 you put out

00:34:15.440 a month of newslet

00:34:16.080 to get all this in detail

00:34:17.360 to get your

00:34:17.940 cutting-edge thinking.

00:34:19.020 Where do they go,

00:34:20.100 Jim?

00:34:21.000 Thanks, Steve.

00:34:21.560 We have a landing page

00:34:22.480 at RickardsWarRoom.com.

00:34:25.280 That's RickardsWarRoom.com.

00:34:27.220 You go there,

00:34:28.160 you can find

00:34:28.700 Strategic Intelligence

00:34:30.460 but we also have an offer

00:34:31.980 only for members

00:34:33.080 of the War Room Posse.

00:34:34.080 It's a free copy

00:34:35.000 of my first book,

00:34:36.260 Currency Wars.

00:34:36.900 So if you go to

00:34:37.520 RickardsWarRoom.com,

00:34:39.020 you can find the newsletter

00:34:40.440 but also a free copy

00:34:41.920 of Currency Wars.

00:34:46.420 And by the way,

00:34:47.280 Currency Wars

00:34:47.940 was the book

00:34:49.400 that got me hooked

00:34:50.120 on the thinking

00:34:50.820 of Jim Rickards

00:34:52.260 and so great to have him

00:34:53.460 now as a contributor

00:34:54.040 here at War Room.

00:34:55.200 Jim, thank you for coming on

00:34:56.340 this morning.

00:34:56.880 Really appreciate it.

00:34:57.600 The day of all days.

00:34:59.080 Great timing.

00:35:01.980 Jim Rickards,

00:35:03.160 Strategic Intelligence.

00:35:05.840 RickardsWarRoom.com.

00:35:06.820 Go check it out.

00:35:07.360 It's the landing page.

00:35:07.940 Got all the information

00:35:08.680 right over there.

00:35:09.440 Special deal

00:35:10.040 for the War Room Posse.

00:35:11.960 Dave Bratt,

00:35:13.140 I can't see

00:35:13.700 because obviously

00:35:15.020 I'm totally nearsighted.

00:35:18.020 I can't see

00:35:18.480 what the vote count is.

00:35:19.920 We'll get it in a second.

00:35:21.100 But MTG's put out

00:35:22.200 a motion to vacate.

00:35:24.480 So she's going to war 0.52

00:35:25.700 and all of a sudden

00:35:26.360 people are discussing it.

00:35:30.400 They're all over

00:35:30.960 the House Freedom Caucus.

00:35:32.580 This is a developing story.

00:35:33.940 It's going to have to develop.

00:35:35.360 A lot of people are saying,

00:35:36.180 well, I don't want to do that.

00:35:37.560 But we'll see where they stand

00:35:38.840 when it's really exposed to them

00:35:40.620 how disastrous it is.

00:35:42.280 I mean, Dave,

00:35:42.880 you've been there.

00:35:43.840 In fact,

00:35:44.900 your primary defeat of Cantor

00:35:48.340 kind of set this whole thing

00:35:50.440 in motion.

00:35:51.420 That was the real time.

00:35:52.440 This was the first time

00:35:53.300 the grassroots,

00:35:54.100 the Tea Party back then,

00:35:55.640 the MAGA movement today,

00:35:57.260 really sent a signal

00:35:58.180 they weren't going to tolerate

00:35:59.140 this anymore.

00:36:00.120 And they took out John Boehner,

00:36:01.420 who was about as swampy

00:36:02.520 as you could possibly get.

00:36:03.720 You took out Cantor,

00:36:04.860 but that led to the takeout

00:36:06.180 of John Boehner.

00:36:07.060 That's one of the reasons

00:36:07.780 they hate you so much.

00:36:09.440 They got you out of there

00:36:10.380 as quickly as they could.

00:36:11.800 Dave Brett.

00:36:13.980 Yeah, well,

00:36:14.620 that's exactly right.

00:36:15.960 And, you know,

00:36:16.340 I'm a Presbyterian economist

00:36:18.680 and I like stability.

00:36:20.820 And your last segment

00:36:22.440 with Rickards

00:36:23.120 was just spot on.

00:36:25.080 And so I ran against

00:36:26.320 trillion dollar deficits.

00:36:27.720 I thought that was abhorrent.

00:36:29.480 Now we're at

00:36:29.940 2.5 trillion dollar deficits.

00:36:32.660 The American people

00:36:33.360 don't even know

00:36:33.940 what they mean, right,

00:36:34.980 when you've got to have

00:36:35.480 Rickards and these

00:36:36.180 financial experts

00:36:37.000 giving you some context.

00:36:38.680 But we had the exact

00:36:39.660 same debate back

00:36:40.660 with Boehner.

00:36:41.620 We had the rules

00:36:42.860 committee issues,

00:36:43.920 the 72 hours

00:36:44.980 we wanted to read a bill.

00:36:46.260 We're violating that one

00:36:47.220 as we speak.

00:36:48.280 We had the majority,

00:36:49.260 the majority rule.

00:36:50.120 We're losing that one

00:36:50.960 right now.

00:36:51.500 We had regular order requests.

00:36:53.440 We lost that one.

00:36:54.360 We had the 12 single

00:36:55.240 appropriations bills requests.

00:36:56.780 We're violating

00:36:57.640 that one right now.

00:36:58.860 So this is not

00:36:59.600 something new.

00:37:00.280 The Wall Street Journal

00:37:01.100 article today,

00:37:01.780 they are just embarrassing,

00:37:03.480 right?

00:37:04.500 They make this sound

00:37:07.060 trivial.

00:37:08.140 These are major issues

00:37:09.340 related to real democracy

00:37:10.800 and the functioning

00:37:11.480 of a republic.

00:37:13.320 And to discount this,

00:37:14.800 coming down to some

00:37:15.520 rabble rousers,

00:37:17.060 no,

00:37:17.520 the country is

00:37:18.180 in total disarray.

00:37:19.920 Records just showed

00:37:20.920 a collapse is coming.

00:37:22.440 Everybody knows it.

00:37:23.200 The Wall Street Journal

00:37:24.100 knows it.

00:37:25.020 J.P. Morgan

00:37:25.960 is false reporting.

00:37:27.880 And records,

00:37:28.580 the most simplest point

00:37:30.200 he made that was just

00:37:31.200 spot on was the debt

00:37:33.220 is growing faster

00:37:34.200 than GDP growth.

00:37:36.020 And so when the debt

00:37:36.900 is growing faster

00:37:38.000 due to fiscal spending,

00:37:39.720 that means all the money

00:37:40.980 is going to the

00:37:41.820 government sector.

00:37:42.940 And then you focused

00:37:43.840 on EV collapse.

00:37:45.160 Everything the government

00:37:46.100 invests in fails.

00:37:47.620 They're not good

00:37:48.460 choosers of winners

00:37:49.880 and losers.

00:37:50.580 So government productivity

00:37:52.200 is negative.

00:37:53.500 That, in turn,

00:37:54.600 has led to the collapse

00:37:55.680 of U.S. manufacturing

00:37:57.220 and capital investment.

00:37:59.540 China has a bigger 0.98

00:38:00.520 capital stock

00:38:01.420 than we do.

00:38:02.360 And we're a much older

00:38:03.460 and more mature economy.

00:38:05.540 We should be crushing them.

00:38:07.380 Human capital.

00:38:08.420 We have plenty of money

00:38:09.420 for that,

00:38:10.080 but that's being run

00:38:11.220 by political elites.

00:38:12.980 They don't care

00:38:13.440 about the kids anymore.

00:38:14.740 They're just paying

00:38:15.400 for votes and bureaucrats

00:38:16.980 and leftist,

00:38:17.780 Marxist thinking,

00:38:19.360 which leaves only one.

00:38:20.340 And this is, you know,

00:38:21.000 Solo, who won the Nobel Prize

00:38:22.500 for economic growth.

00:38:23.720 I'm not making this stuff up.

00:38:25.220 And then Mancu

00:38:26.000 followed him at Harvard.

00:38:27.440 And he's got a straight

00:38:28.740 head on his shoulders.

00:38:30.180 But those are the things

00:38:31.120 that cause long-run

00:38:32.000 economic growth

00:38:32.820 that Rickards is talking about.

00:38:33.980 Capital investment,

00:38:34.940 human capital,

00:38:36.000 and then technology

00:38:37.120 is the third.

00:38:38.020 And as Rickards just said,

00:38:39.960 and I presented with you

00:38:41.180 on productivity

00:38:41.760 the other day,

00:38:42.740 the technological piece

00:38:44.240 only accrues

00:38:45.260 to the rich right now.

00:38:46.220 And that's what Rickards

00:38:46.960 is saying.

00:38:47.700 That's really problematic,

00:38:49.100 right?

00:38:49.580 It used to be

00:38:50.120 if you put capital

00:38:50.980 in the hands

00:38:51.440 of the American worker,

00:38:52.600 they got richer.

00:38:53.520 Their wage rates went up.

00:38:55.180 Now we have a border invasion

00:38:56.880 and J.P. Morgan

00:38:58.540 lecturing us

00:38:59.380 about the net positive effects.

00:39:02.100 Why don't you go

00:39:02.780 to Detroit City

00:39:04.000 and give that speech

00:39:05.760 right at the economic club

00:39:07.840 in downtown Detroit,

00:39:08.920 J.P. Morgan.

00:39:09.960 See how that goes for you.

00:39:11.140 No, no, no, no, no.

00:39:11.940 No, no, no, they should go.

00:39:13.580 Ben Burkwam should take him back.

00:39:14.920 Real America's voice,

00:39:15.780 Ben Burkwam should take him back

00:39:16.840 to Chicago.

00:39:18.540 Yeah, right.

00:39:19.100 The gentleman in Chicago,

00:39:20.740 the African-Americans said,

00:39:21.960 hey, we're getting buried.

00:39:23.160 And you know what they said?

00:39:24.760 We're being replaced.

00:39:26.740 This is not white saying this.

00:39:28.220 This is African-Americans

00:39:29.320 said they're replacing us.

00:39:31.360 It's obvious.

00:39:32.140 Have J.P. Morgan

00:39:33.200 head down there.

00:39:34.260 Have Chris Hayes

00:39:34.900 go do your show

00:39:35.540 from down there

00:39:36.280 and see what people

00:39:37.260 have to say.

00:39:38.060 Have CNN,

00:39:39.180 chief economists,

00:39:39.780 go down and pitch

00:39:40.900 how the invasion

00:39:41.860 is actually so great

00:39:42.960 and working out.

00:39:43.600 It's such a terrific thing.

00:39:45.220 They are gun-decked.

00:39:47.020 They've gun-decked the numbers.

00:39:48.480 They're lying about

00:39:49.060 the real math.

00:39:50.580 They're lying about

00:39:51.040 the real math.

00:39:51.920 And all the benefits

00:39:53.480 accrue to the wealthy.

00:39:54.480 Why do you think

00:39:54.960 Wall Street's in back of this?

00:39:56.060 Why do you think

00:39:56.480 the corporatists

00:39:57.180 are in back of this?

00:39:57.820 Why are Silicon Valley

00:39:58.760 in back of this?

00:39:59.480 Do you think they're

00:40:00.140 in back of this

00:40:00.700 for the good of the nation?

00:40:01.920 Do you actually think

00:40:02.980 they put the American

00:40:03.800 Republic first?

00:40:04.720 Do you think they put

00:40:05.460 the American citizens first?

00:40:07.180 Dave, I know you've got to go.

00:40:08.420 We've got a lot more

00:40:08.900 to get into.

00:40:09.780 We'll grab you later.

00:40:10.580 But last thing,

00:40:11.640 on Bretton Woods

00:40:12.460 and the elites

00:40:13.380 trashing the dollar,

00:40:15.100 this is one of the

00:40:15.760 central things.

00:40:16.700 Gold's hitting up

00:40:17.360 another all-time high.

00:40:18.820 Purchasing powers down.

00:40:20.380 And I keep saying,

00:40:21.540 the rest of the world

00:40:22.560 are sitting there

00:40:23.100 and saying,

00:40:23.440 the deplorables

00:40:24.100 in MAGA may have

00:40:24.940 to suck on this, 0.98

00:40:25.700 but we don't have

00:40:26.320 to suck on this. 0.98

00:40:27.260 We're going to move,

00:40:28.260 we're going to work

00:40:28.860 every day to get

00:40:29.800 an alternative

00:40:30.400 of how we can get off

00:40:32.140 the American slave masters 0.54

00:40:34.120 on Wall Street,

00:40:35.660 Silicon Valley,

00:40:36.700 and the imperial capital

00:40:37.720 of Washington, D.C.

00:40:38.760 We see how they

00:40:40.080 treat their own citizens.

00:40:41.200 They're not going to

00:40:41.620 treat us like that.

00:40:42.400 Your thoughts?

00:40:44.640 Yeah, well,

00:40:45.320 I talked to Emmer yesterday,

00:40:47.540 the whip,

00:40:48.060 and he assured me

00:40:49.060 that the central bank

00:40:50.300 digital currency,

00:40:51.700 we were,

00:40:52.100 we were,

00:40:52.700 he's fighting for it,

00:40:53.720 we're fighting it.

00:40:54.240 And Chip Roy just said

00:40:55.260 it's in the budget

00:40:56.040 that it's not being covered.

00:40:58.760 And the,

00:40:59.280 you know,

00:40:59.460 the Federal Reserve

00:40:59.960 is already moving toward that.

00:41:01.800 So that is directly linked

00:41:03.700 to the financial arguments

00:41:05.760 you're talking about.

00:41:07.040 They're already running

00:41:08.520 pilot programs

00:41:09.480 across the country.

00:41:10.400 The banks are planning on it.

00:41:12.080 There's going to be

00:41:12.620 huge pressure.

00:41:14.000 And so elections

00:41:14.960 have consequences.

00:41:16.660 And that's a big one,

00:41:18.400 right?

00:41:18.720 That's going to scare

00:41:19.620 the living daylights

00:41:20.940 out of U.S. citizens

00:41:22.160 and out of the rest

00:41:22.920 of the world.

00:41:24.220 China already is spying

00:41:25.380 on its people

00:41:26.020 and using the currency

00:41:27.040 as a weapon.

00:41:28.720 And so that's

00:41:29.300 the next pivotal move,

00:41:30.520 the central bank

00:41:31.360 digital currency,

00:41:32.880 CBDC.

00:41:34.380 Go Google that one.

00:41:35.600 Get up on that.

00:41:36.300 But you,

00:41:36.600 you had the play call,

00:41:38.040 right?

00:41:38.280 The bricks are,

00:41:38.940 it's all,

00:41:39.340 it's over 40 countries now

00:41:40.720 all aligning

00:41:41.500 against the United States

00:41:43.280 because our word

00:41:44.040 is not good.

00:41:44.820 We're not strong.

00:41:46.220 We have wars

00:41:47.080 all over the place.

00:41:48.120 Four years ago,

00:41:48.820 we had peace

00:41:49.720 and prosperity

00:41:50.700 and the American people

00:41:52.100 need to remember that.

00:41:53.300 We're,

00:41:53.860 we're fighting

00:41:54.560 for actual stability,

00:41:55.960 right?

00:41:56.260 When I came in,

00:41:57.080 I was fighting

00:41:58.040 just for the American person,

00:41:59.480 just for some standard

00:42:00.520 economic rules

00:42:01.560 where you get paid

00:42:03.020 what you work for.

00:42:04.500 We got to get back

00:42:05.220 to just the most

00:42:05.900 simple economy.

00:42:07.100 We got to get the government

00:42:07.900 sector and the elites

00:42:08.880 out of here.

00:42:10.380 And,

00:42:10.840 you know,

00:42:11.380 don't ever lose that.

00:42:12.560 God is upstairs

00:42:13.860 working out his plan,

00:42:15.860 right?

00:42:16.180 God,

00:42:16.480 the Father,

00:42:16.940 the Son,

00:42:17.380 the Holy Spirit,

00:42:18.140 keep the faith out there.

00:42:19.720 He's working out a plan.

00:42:20.960 We do not know that perfectly,

00:42:22.440 but you can pray

00:42:23.500 for guidance

00:42:24.580 to hear that word.

00:42:25.400 You can read the book

00:42:26.220 with your family.

00:42:26.800 So keep the faith.

00:42:28.260 God's got a plan.

00:42:29.420 It's going to work out

00:42:30.200 if we keep the faith

00:42:31.380 down here.

00:42:32.240 And same with Israel, 0.87

00:42:33.600 right?

00:42:33.840 We need to do more

00:42:35.060 God talk together

00:42:36.140 with Israel

00:42:37.640 and international affairs

00:42:39.500 will take a much

00:42:40.540 better outlook

00:42:41.220 and we'll see

00:42:42.120 the uplit

00:42:43.080 highlands

00:42:43.940 in the future

00:42:44.820 together.

00:42:47.920 Dave,

00:42:48.540 social media,

00:42:49.320 where do they go

00:42:49.700 to get all your charts?

00:42:51.720 Yeah,

00:42:51.960 just Brad Economics.

00:42:52.980 It'll be one more day.

00:42:53.800 I'm up in the swamp

00:42:55.140 trying to help out

00:42:56.240 a little bit.

00:42:56.740 Be back home.

00:42:57.460 I'll make all the posts

00:42:58.360 and update everything.

00:42:59.840 Brad Economics

00:43:00.600 on Getter

00:43:01.420 and then parents,

00:43:02.780 I got an email

00:43:03.400 thing on there

00:43:04.100 if you want me

00:43:04.400 to come around

00:43:04.800 to your cities.

00:43:05.420 I've been making

00:43:06.080 the waves

00:43:06.460 through Dallas

00:43:07.000 and Houston

00:43:07.520 and Atlanta

00:43:08.080 and Baltimore.

00:43:09.580 And so look me up,

00:43:11.640 invite me over

00:43:12.200 to give a talk

00:43:13.240 and please visit

00:43:13.920 Liberty University

00:43:14.640 with your young scholars.

00:43:16.580 God bless everybody.

00:43:17.380 Thank you, Dave Bratt.

00:43:20.640 Looking forward

00:43:21.160 to having you

00:43:21.540 back on here.

00:43:23.320 Thanks, Dave.

00:43:23.720 I don't think

00:43:24.100 they got the vote yet.

00:43:24.860 I think my math

00:43:25.820 says 290.

00:43:27.120 I think they're 286.

00:43:28.480 There's 101 Republicans,

00:43:31.500 101 traders.

00:43:33.620 MTG has thrown in

00:43:35.600 a motion to vacate.

00:43:39.260 We're seeing right now,

00:43:40.160 we're going to take

00:43:40.560 a break here

00:43:41.000 in a second.

00:43:41.580 Make sure,

00:43:42.020 by the way,

00:43:42.480 Warpath,

00:43:42.840 it's a day

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00:43:54.360 Get the blend

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00:44:04.540 We're going to be

00:44:04.860 showing some folks

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00:44:08.740 and love it

00:44:09.420 here in the Warpath.

00:44:10.940 Short commercial break.

00:44:11.760 Back in a moment.

00:44:14.240 Criminals have access 1.00

00:44:15.320 to more advanced tools

00:44:16.460 than ever.

00:44:17.360 And now they're using them

00:44:18.520 to steal our most valuable asset.

00:44:21.560 That would be your home.

00:44:23.440 In Miami,

00:44:24.180 an elderly woman

00:44:25.040 didn't find out

00:44:26.740 an empty plot of land

00:44:27.800 she owned

00:44:28.580 was stolen

00:44:29.280 until she went

00:44:29.940 to pay taxes.

00:44:31.540 A stranger

00:44:32.040 had already paid them

00:44:33.120 and property records

00:44:34.500 showed she had sold the land.

00:44:36.400 They had forged her signature

00:44:37.880 and registered a fake deed.

00:44:39.740 How scary is that?

00:44:41.240 That's why you need

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00:44:52.440 When's the last time

00:44:53.120 you checked your home's title?

00:44:54.880 All a thief has to do

00:44:56.020 is forge your signature,

00:44:58.120 refile as the new owner.

00:45:00.040 And once your home

00:45:01.240 is not in your name,

00:45:02.580 it can get really ugly

00:45:03.980 and it can get really ugly fast.

00:45:06.380 They can take out equity loans

00:45:07.780 or even sell your house

00:45:08.900 to an unsuspecting buyer

00:45:10.240 who shows up

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00:45:12.680 and says,

00:45:13.320 hey, this baby is mine.

00:45:15.460 Don't think your home

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00:45:43.860 Do not let these thieves

00:45:45.660 steal your home

00:45:47.460 in broad daylight.

00:45:50.140 Here's your host,

00:45:51.620 Stephen K. Bannon.

00:45:53.380 We don't have...

00:45:58.060 Okay, do we have the clip?

00:46:01.940 I thought we were going

00:46:02.400 to play in the call.

00:46:02.900 Let's bring it back.

00:46:03.560 Let's go.

00:46:03.980 Let's play the clip

00:46:04.580 from Minor Runner.

00:46:06.400 Let's play it.

00:46:07.380 I mean, we were talking

00:46:08.040 about this earlier.

00:46:09.500 A monkey wrench

00:46:10.480 could go into the works

00:46:11.420 and it looks like

00:46:12.140 that might possibly happen

00:46:14.060 in the form of a resolution

00:46:15.260 from Marjorie Taylor Greene.

00:46:16.240 What's going on?

00:46:18.720 Yeah, that's right.

00:46:19.520 Remember, it just takes

00:46:20.080 one member

00:46:21.020 to actually call for a vote

00:46:22.520 seeking the ouster

00:46:23.460 of a sitting speaker.

00:46:24.360 We saw that unprecedented

00:46:25.400 action happen last fall

00:46:27.160 when Kevin McCarthy

00:46:27.880 was voted

00:46:28.480 to make an uprising

00:46:29.580 in the ranks.

00:46:30.320 We'll see if that happens here.

00:46:31.960 Our colleague,

00:46:32.540 Christian Wilson,

00:46:33.100 who's in the chamber

00:46:33.800 of the House,

00:46:34.680 just witnessed

00:46:35.400 Marjorie Taylor Greene

00:46:36.400 filing a resolution

00:46:37.720 with the House parliamentarian.

00:46:39.620 That is the first step

00:46:40.640 you take before ousting.

00:46:42.940 You can move on

00:46:44.220 what's known as

00:46:44.640 a motion to vacate.

00:46:46.060 Then that person

00:46:46.700 needs to be recognized

00:46:47.440 on the floor.

00:46:48.340 Then there are two

00:46:48.980 legislative days

00:46:49.920 to actually have the vote

00:46:51.360 to seek the ouster

00:46:52.940 of a sitting speaker.

00:46:54.300 And if it goes

00:46:55.100 along party lines,

00:46:55.980 that means Mike Johnson

00:46:57.040 could only afford

00:46:57.800 to lose two Republican votes

00:47:00.080 on a party line vote

00:47:01.320 in order to stay

00:47:02.420 as Speaker of the House.

00:47:04.520 Now, we should caution.

00:47:05.740 It is unclear exactly

00:47:06.860 what was in that resolution

00:47:08.240 that was just filed.

00:47:09.580 I am told by a source

00:47:10.780 familiar with the matter,

00:47:11.520 she has been weighing

00:47:12.380 how to proceed.

00:47:13.600 She's considering

00:47:14.240 trying to move

00:47:15.100 to oust Mike Johnson

00:47:17.080 over these concerns.

00:47:18.500 And she has been clear.

00:47:19.700 She was asked about it

00:47:20.600 on a podcast earlier today

00:47:22.100 about whether she's

00:47:23.140 going to go that far.

00:47:24.260 She said, stay tuned.

00:47:25.540 So she is clearly

00:47:26.460 dangling this threat

00:47:27.860 over Mike Johnson.

00:47:28.960 And it all has to do

00:47:29.720 with this deal

00:47:30.360 that was cut

00:47:31.320 to keep the government open.

00:47:32.560 This bill on the floor

00:47:33.520 right now,

00:47:34.060 we do expect it

00:47:34.900 to pass the House.

00:47:36.260 But there's been

00:47:36.820 anger building

00:47:37.640 on the far right

00:47:38.580 that Johnson cut deals

00:47:39.780 with the White House,

00:47:40.860 with Senate Democrats.

00:47:41.800 This bill was unveiled

00:47:42.900 early yesterday morning

00:47:44.800 and it's going to be approved

00:47:46.420 before today,

00:47:48.360 just over 24 hours.

00:47:50.260 Typically,

00:47:50.920 under the rules,

00:47:51.680 you would give 72 hours

00:47:52.800 to review such a legislation.

00:47:54.160 That was waived.

00:47:55.220 That is part of the anger

00:47:56.400 that Marjorie Taylor Greene

00:47:57.640 has been raising

00:47:58.760 about the concerns

00:47:59.540 over there

00:47:59.960 and the deals

00:48:00.580 that were cut

00:48:01.220 and not going as far

00:48:02.440 as these hardliners want 0.98

00:48:03.540 in trying to rein in

00:48:04.860 the Biden administration.

00:48:06.580 Now,

00:48:06.800 what will happen

00:48:07.880 from here

00:48:08.480 remains to be seen.

00:48:09.460 If she does go that route,

00:48:10.600 does she have enough votes 1.00

00:48:11.940 to actually kick out

00:48:14.160 Mike Johnson?

00:48:14.940 I just talked to

00:48:15.440 some hardliners,

00:48:16.560 including one,

00:48:17.120 Ralph Norman,

00:48:17.960 just moments ago.

00:48:18.620 He kept open the option

00:48:19.680 of voting to boot

00:48:20.660 Mike Johnson,

00:48:21.400 as did Bob Good,

00:48:22.460 who's a member

00:48:22.820 of the House

00:48:23.220 Freedom Caucus.

00:48:24.120 And if it goes

00:48:24.740 to that level,

00:48:25.680 what do Democrats do?

00:48:26.880 Do they step in

00:48:27.740 in any way

00:48:28.180 to try to help Johnson?

00:48:29.480 Remember,

00:48:29.720 there are also

00:48:30.180 major issues

00:48:31.040 that are pending

00:48:31.840 after they try to

00:48:32.860 keep the government open.

00:48:34.480 They also have to deal

00:48:35.440 with how to deal

00:48:35.980 with Ukraine money.

00:48:37.200 That is still pending.

00:48:38.260 Israel money.

00:48:39.360 And Democrats

00:48:39.980 are clamoring

00:48:40.700 for some action there.

00:48:41.580 So all those machinations

00:48:43.220 could play out

00:48:44.040 if we see yet another

00:48:45.220 historic move

00:48:46.180 to try to oust

00:48:46.880 the sitting speaker.

00:48:47.980 So, Jim,

00:48:48.920 it just goes to show you

00:48:49.900 how challenging

00:48:51.120 it is to govern

00:48:52.180 this unruly

00:48:53.280 House Republican

00:48:54.100 conference

00:48:54.720 at this time.

00:48:56.080 But Johnson may

00:48:57.180 see if he can

00:48:58.880 meet the same fate

00:48:59.600 as Kevin McCarthy.

00:49:02.780 112 voted against it.

00:49:04.860 It's not unruly.

00:49:06.320 This is fiscal

00:49:07.320 insanity

00:49:08.480 of what is going on.

00:49:09.640 This is fiscal madness

00:49:10.860 about what is going on here.

00:49:13.040 Absolute fiscal madness.

00:49:14.160 What Marjorie Taylor Greene, 0.97

00:49:17.600 by the way,

00:49:18.400 of course CNN

00:49:19.020 is not going to say

00:49:19.600 she did that

00:49:20.060 in the war room.

00:49:20.680 She did that. 0.99

00:49:21.120 That's what opened

00:49:21.640 the show today

00:49:22.100 was Marjorie Taylor Greene

00:49:23.100 giving you a heads up

00:49:23.940 on what she was going to do.

00:49:24.900 Now, somebody's,

00:49:25.900 I think,

00:49:26.100 reporter,

00:49:26.480 may have been

00:49:26.800 Bresnahan,

00:49:28.160 she's done something

00:49:29.760 quite smart here.

00:49:31.180 Go back to the removal.

00:49:32.520 For those of you

00:49:33.300 that have followed this

00:49:34.160 for years,

00:49:34.720 the removal of Boehner.

00:49:37.480 What Mark Meadows did

00:49:38.820 is drop the motion

00:49:40.080 to vacate

00:49:40.760 the day that they left

00:49:42.620 for the August recess.

00:49:44.160 And it was at town halls

00:49:45.740 in that month of August.

00:49:46.920 Boehner just laughed

00:49:47.640 to all of Boehner's guys.

00:49:48.980 They just laughed

00:49:49.680 in our face.

00:49:50.640 It was the town halls

00:49:52.260 that people went to

00:49:53.300 that blew up Boehner.

00:49:54.800 He came back

00:49:55.840 and said,

00:49:56.300 look,

00:49:56.640 if you let me stay

00:49:57.640 as speaker

00:49:58.100 through the Pope

00:49:58.840 coming at the end

00:49:59.980 of September,

00:50:00.660 I'll resign.

00:50:02.380 The grassroots force

00:50:04.820 of that August,

00:50:06.060 I think it was 2014,

00:50:07.720 that August of 2014

00:50:08.940 is what blew,

00:50:11.320 it might have been

00:50:11.760 the year,

00:50:12.260 the grassroots effort

00:50:13.880 in that August

00:50:15.220 is what blew Boehner out

00:50:16.880 because they were

00:50:17.340 laughing at Meadows,

00:50:18.240 you got no votes,

00:50:19.080 you got nothing.

00:50:20.380 The one part

00:50:21.040 of this exercise

00:50:21.740 would show

00:50:22.340 that Johnson's

00:50:24.220 just supported

00:50:24.800 by Hakeem Jeffries

00:50:25.780 and the Democrats.

00:50:27.040 So this is real,

00:50:28.220 it's going to be game on.

00:50:29.600 So he's got to go.

00:50:30.820 If he pushes this through,

00:50:32.420 he's lost all moral authority

00:50:34.120 to govern here.

00:50:35.920 He's not just rolled over,

00:50:37.060 he's part of the program.

00:50:38.240 And if you see

00:50:38.720 what's in this bill,

00:50:39.600 it is awful.

00:50:41.200 Every aspect

00:50:41.960 of it is awful

00:50:42.500 and they try to sell you

00:50:43.500 on the parts of it,

00:50:44.100 just laugh in their face

00:50:45.000 and repeat back

00:50:47.040 what you've seen

00:50:47.680 and what you've heard here.

00:50:48.520 We'll get more information up,

00:50:49.620 hopefully have Russ vote on.

00:50:51.220 This afternoon,

00:50:51.580 Charlie Kirk's next,

00:50:52.440 you're going to get

00:50:52.920 posted after that.

00:50:53.640 We're going to be back

00:50:54.160 five to seven tonight.

00:50:55.200 It's going to be wild.

00:50:56.500 We're actually going to talk

00:50:57.120 about the CIA involved

00:50:58.520 in saving Hunter Biden.

00:51:00.500 We got Garrett Ziegler.

00:51:01.580 We have a lot

00:51:02.140 between five and seven.

00:51:03.160 Mike,

00:51:03.460 we only got a couple of minutes.

00:51:05.080 The people want to talk deals.

00:51:06.700 Where do they go?

00:51:08.440 You guys,

00:51:09.460 I'll tell you,

00:51:10.080 War Room Posse,

00:51:11.140 go to MyPillow.com.

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00:51:21.320 if you pull,

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00:51:22.820 All these products,

00:51:23.900 you go to the website.

00:51:25.680 You got the MyPillow premiums.

00:51:28.120 Queen or King,

00:51:28.900 $25.

00:51:29.960 Six pack towel says $25.

00:51:32.000 If we pull up the website,

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00:51:33.800 There it is.

00:51:34.640 The bed sheet sale.

00:51:35.800 All those are on sale.

00:51:37.520 The $25 extravaganza

00:51:39.220 six piece towel says,

00:51:41.060 the four pack dish towels

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00:51:45.920 they're going to be $49.

00:51:48.120 We're doing it here

00:51:48.720 for the War Room Posse,

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00:51:51.100 All the multi-use pillows,

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00:51:58.120 But there it is that the $25

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00:52:02.280 and we added Giza premium

00:52:04.280 ticking couch and recliner pillows.

00:52:06.780 They all came in $25.

00:52:09.160 You guys,

00:52:09.560 this is the sale of the century

00:52:11.120 for the War Room Posse.

00:52:13.140 And everybody ready?

00:52:14.320 Your whole order ships for free.

00:52:16.740 We brought back War Room 0.95

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00:52:21.300 And by the way,

00:52:22.220 Steve,

00:52:22.740 my call center agents

00:52:23.940 are getting attacked again

00:52:25.620 by the IRS.

00:52:26.740 We just got served other papers

00:52:28.300 from another state.

00:52:29.320 They don't want them

00:52:30.340 working from home,

00:52:31.480 making commission with,

00:52:33.080 you know,

00:52:34.280 it's just one attack

00:52:35.360 after another.

00:52:36.100 So if you can call in,

00:52:37.620 you guys,

00:52:38.380 get them on the phone,

00:52:39.480 give them,

00:52:40.100 so they feel secure

00:52:41.460 in their jobs

00:52:43.260 because this is disgusting

00:52:44.780 with the attacks

00:52:46.240 on MyPillow

00:52:47.140 because I'm out there

00:52:48.920 helping,

00:52:49.360 trying to save our country

00:52:50.280 with securing our elections.

00:52:53.540 Okay.

00:52:54.360 800-873-1062.

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00:53:06.120 Mike,

00:53:06.300 thank you so much.

00:53:06.940 We'll see you back here

00:53:07.500 on the afternoon show.

00:53:08.480 Yeah,

00:53:08.700 thank you,

00:53:09.100 thank you.

00:53:10.980 Afternoon show,

00:53:11.860 there's big things happening.

00:53:13.840 Johnson had to,

00:53:15.080 you know,

00:53:15.300 Jake Sherman's laughing at us

00:53:16.540 over at Punchbowl.

00:53:17.460 He says,

00:53:17.940 once again,

00:53:18.780 Johnson has to depend

00:53:20.580 on overwhelming

00:53:21.860 Democratic support.

00:53:23.060 Why?

00:53:23.780 This is a Democrat bill.

00:53:25.520 Absolutely disgusting.

00:53:26.440 One thing to do

00:53:28.240 between now and then,

00:53:29.260 besides watch these great shows

00:53:30.420 in Real America's Voice,

00:53:31.420 go to Birchgold.com

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00:53:39.280 You're seeing it happening

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00:53:41.640 in real time.

00:53:42.700 We'll be back here at five

00:53:43.900 to discuss.

00:53:45.500 See you then.

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Bannon's War Room - March 22, 2024

Episode 3482： Financially Crippling Future Generations; House Passes Corrupt Spending Bill

Episode Stats

Summary

Transcript