Episode 3611： House Committee On Judiciary Attacks WarRoom
Episode Stats
Length
1 hour and 1 minute
Words per Minute
167.96112
Summary
Inflation cools off to 3.6% y/y/o, but still hits a new all-time high of 3.17%, and we talk about why this is a good omen of what's to come in the months to come.
Transcript
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expected to be down 10 is down 15.6, down 15.6 is the weakest read since January. Now let's go to
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CPI, shall we? These are the April reads, of course, headline up three 10s, a little cooler
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than the rearview mirror, which was up four 10s. I haven't seen revisions. They were late yesterday
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and coming. If we look at the X food and energy, also up three 10s. And last month, that was also
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up four 10s. So that definitely cooling off as expected on that. Now let's look at the year over
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year numbers, probably the most important. 3.4 is the year over year headline. And that is one 10th
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cooler than the rearview mirror equal to expectations. And that is the lowest year over
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year since we're at, well, 3.2 in February. See, last month was the pop. And if we look at CPI,
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X food and energy year over year, this is 3.6. That is definitely cooler than the 3.8 we had last
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time. And the 3.8 last time and along with the 3.6 this time is now the lowest level of year over
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year core inflation since April of 21. So these numbers are close to expectations in every way
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and actually sequentially a bit better than last month, which spike. You see yields moving down.
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Now we're not done with the data yet. I like to look at the CPI index because I think the CPI index is
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very important to look at. 3.13.54 is the non-seasonally adjusted. And guess what? That's
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a new all-time high. And if we look at the core at 3.17.62, that's also a new all-time high. So here's
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what we really see. The politicians are going to say, wow, it's a bit cooler than expected. And in many
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ways they're correct, but it's still on the index is both non-seasonally adjusted, non-seasonally
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adjusted, the highest ever since record keeping the index that we figure all this on.
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This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on
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these people. I got a free shot. All these networks lying about the people, the people have had a
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belly full of it. I know you don't like hearing that. I know you try to do everything in the world
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to stop that, but you're not going to stop it. It's going to happen. And where do people like that go
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to share the big line? MAGA Media. I wish in my soul, I wish that any of these people had a
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conscience. Ask yourself, what is my task and what is my purpose? If that answer is to save my country,
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this country will be saved. War Room. Here's your host, Stephen K. Vance.
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It's Wednesday, 15th, May in the year of our Lord, 2024. By the way, guys, we got some terrible
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feedback here. Let's get on it. We just did a great sound check and somehow the sound is wrong.
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A print came out today on CPI. We're going to get EJ and Tony up here in a second. I want to read,
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though, Jason Trenert. If Denver can put up the tweet on Jason Trenert. Strategious common man CPI.
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Remember, we've had him on to talk about the common man CPI, which is food, energy, shelter,
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clothing, utilities, and insurance. Let me repeat that. Food, energy, shelter, clothing,
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utilities, and insurance. 3.8 year over year and has exceeded official number for nine consecutive
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months. And in 34 of the last 40 months, gold moving higher. Inflation as a campaign issue is
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over and Biden has lost. Let me bring in now EJ and Tony. EJ, I know you got a bunch of charts.
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The top line number, and of course, Biden, these guys are going to say, well,
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it didn't blow through expectations. Walk me through what the real math is on the lived experience of the
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American people. Well, Jason Trenert is absolutely right, Steve. If you're looking at what Americans
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actually have to buy, as opposed to the theoretical basket of goods that the Bureau of Labor Statistics
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has come up with, you see that it is much worse than the headline number. But on top of that,
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even how the consumer price index measures things like housing, it grossly underestimates what
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Americans are actually paying. Look at how they measure the cost of home ownership, for example.
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That's up only about 20% since Biden took office. And anyone who's trying to buy a home today
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knows that that is absolutely ridiculous figure. In reality, if you use real world data, so look at
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things like home prices, interest rates, you can even pull in the cost to insure a home, property taxes,
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et cetera. What you find is that the cost to own a home today is 114.5% more than when Biden took office.
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I'm sorry, but that is nowhere near the 20% increase that we are being told in these official
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numbers. That's an absolutely ridiculous disparity. And so the lived experience of Americans is much
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worse than what this economic data is telling us.
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Okay. Hang on for one second. By the way, I want to announce the weaponization committee
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starts this morning. The first witness is going to be Bob Costello, the lawyer. We're going to cut to
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that for his opening statement, which is pretty powerful about Michael Cohen. We will go to that
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live as soon as it happens. And Jason or EJ is going to bear with us. EJ, hit rewind on that and just give me
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that one more time because it's very important to understand, particularly in the number one for
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the economy and for your life, but as importantly for the positioning on this campaign.
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Well, Steve, it's very shocking to a lot of people, but when the BLS tries to estimate the cost of home
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ownership, they don't look at the price of homes. They don't look at interest rates. And as a result,
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when you have these periods of very high inflation in the housing market, you will get incredibly
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skewed numbers coming out of the BLS. And so because they rely exclusively on looking at rent
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prices and then from that, try to figure out how home prices are changing, their number is completely
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off today by essentially a factor of five. Instead of the 20% increase, which they allege over the last
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about three and a half years, the actual number is up about 115%. This is why Americans can't afford
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homes. This is why Americans are essentially resigning themselves to having to rent forever.
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This is why we are seeing young people move back in with their parents at rates not seen since the
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Great Depression. That's not an exaggeration. Young people cannot afford the American dream of
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home ownership. In fact, for them, it's not even a dream anymore. It's more of a nightmare.
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There. Walk through. You've got some other analysis you want to talk about on these numbers
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to get behind them. And by the way, this only reinforces, look, Jason Trenert over at Strategist
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is not a, he's not a fire breather. He's like EJ. These guys are very, and Scott Besson,
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these guys are some of the best guys on Wall Street, either major hedge fund managers or are
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retained by hedge fund managers to give them an independent assessment away from their
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own in-house economists and their own in-house analytics to make sure that they're, you know,
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they're, they're, they're getting a lot of different views. This is where you want to get a range
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of, uh, of, of opinions. Jason Trenert, uh, EJ, and you know, his common man, a CPI where he adds
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in basically what you talk about. He's got a chart up and if Denver could put that chart back up again,
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you see the spread there and he says, Hey, uh, inflation as a campaign issue is over for Biden.
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And he lost, uh, because the number is going to be very difficult, not impossible to change,
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particularly with yesterday's PPI, the producer price. Remember that's the wholesale price that'll
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roll through that'll roll through the numbers in a month or two. Your thoughts,
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Steve, that that's exactly right. And by the way, that actually blows a hole below the waterline
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to this whole idea that inflation is somehow caused by corporate greed. Nothing could be
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further from the truth. If you look at the producer price index or wholesale inflation,
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that that's essentially the cost that businesses are having to pay versus the CPI consumer price
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index. That's the cost that UI and, and all your viewers are paying. You find that those are both
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up essentially the same percentage over Biden's presidency. And as a result of that, the costs that
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businesses are paying are simply being passed on to consumers. And so this, this whole idea that
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somehow businesses are being greedy and are causing inflation, it doesn't even pass the smell test.
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Yeah. Talk, talk about that for a second. Cause this is Biden's new thing. Biden's going to say,
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Hey, it's not my, it's not my massive spending. Cause we don't have a drop in aggregate demand
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anymore. It's, it's this infusion of one Keynesian stimulus after the other. What is,
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whether it's the green new deal or build back better, whatever, whatever, you know,
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they call it the inflation reduction act. Remember that, uh, up in your face, uh, this massive
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spending is what's caused this. He's trying to pivot and, and, and look, Hey, we, we, we have no truck
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with the, uh, with the corporation. We're on these guys all the time. I don't trust the big corporations
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as far as you can throw them. Right. Because they are total globalists. However, in this case,
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for him to go back to the old saw, Oh, it's greedy corporations. It's shrinkflation. It's all
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of that. That, that doesn't hold up when you look at the producer price index, correct?
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That's exactly right, Steven. And you know, you're, you're right. Corporations are not our friend,
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but they're not our enemy in this case either, because what's happening is that the value of
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the currency is declining. This is why gold has, has been on an absolute tear this year.
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People are waking up to the reality that it's simply the dollar, which is losing value. And
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that's why prices are rising. Hey, EJ, hang on for one second. I want to go live to Capitol Hill,
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the weaponization committee. We're going to come right back to you. This is Bob Costello,
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opening statement. Department of justice wouldn't, that the federal elections commission wouldn't
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bring, that his predecessor, Cy Vance wouldn't bring. And as Alvin Bragg himself said, he wouldn't
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bring, but then he did after president Trump announced he was running for president. Some
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might call this all election interference. Think about it. Mr. Bragg is charging president Trump
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with conspiracy to impact the 2016 election. Ms. Willis and Mr. Smith are charging president Trump
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with a conspiracy to interfere with the 2020 election. Seems to me the conspiracy is between
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Bragg, Smith, and Willis working to interfere with the 2024 race. Of course, none of this is new.
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2016, government spied on president Trump's campaign. You don't have to take my word for it.
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You don't take this committee's word for it. John Durham said it. Clinton campaign paid the law firm
00:11:08.300
Perkins Coie, who hired Fusion GPS, who hired Christopher Steele, a foreigner who talked to other
00:11:14.280
foreigners who put together the fake dossier, which became the basis for the FBI to spy on President
00:11:20.800
Trump's campaign. The basis for a whole investigation where we saw text messages back and forth from
00:11:27.040
folks on the investigation saying, we'll stop Trump. Then, of course, it was the Mueller investigation.
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19 lawyers, 41 FBI agents, $30 million to find, nothing. No conspiracy, no coordination,
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none whatsoever. Then it was impeachment. Anonymous whistleblower with no firsthand knowledge. He was
00:11:49.340
biased against President Trump, who worked for Joe Biden. Talks about a phone call and they impeached
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the President of the United States. Then they raided his home. Broke every protocol, every normal
00:12:02.160
procedure. Again, don't take our word for it. Stephen D'Antuano, FBI Assistant Director of the
00:12:07.580
Washington Field Office told us this in his deposition. Then, of course, they tried the 14th
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Amendment. We'll just keep him off the ballot. The easiest way to win is not to let your opponent play.
00:12:19.500
That's what they tried to do. Thank goodness the Supreme Court said no to that. Nine to zero,
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they said no to that. And then, of course, after all that, after he's a candidate, as I said,
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we get all these cases. In Georgia, Fannie Willis hires her boyfriend who travels to D.C. on the
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taxpayer dime, meets with White House officials, January 6th committee, all in an effort to target
00:12:45.660
President Trump. In New York, gag orders placed on President Trump by a partisan judge whose daughter
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is a Democrat fundraiser, while Michael Cohen, convicted perjurer, is allowed to post anything he
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wants on social media, say whatever he wants. Not to mention the guy who's the lead prosecutor for
00:13:04.880
Alvin Bragg, Mr. Colangelo, who worked for Letitia James, then worked for the Justice Department, then
00:13:09.720
went back to New York to work for Alvin Bragg. And in Florida, in Florida, we learned that Jack Smith
00:13:18.820
changed, altered the order of the classified documents he seized. The physical documents don't
00:13:26.560
match up with the scan documents. Jack Smith didn't properly handle the documents he said
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President Trump didn't properly handle. Jack Smith mishandled classified information, all while
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charging President Trump with, quote, mishandling classified information. You can't make this up.
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Some would call that tampering with evidence. Today's hearing is about how the law is being used to
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target political opponents. It's truly about the weaponization of government, truly about what
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this committee has been focused on for this Congress. And obviously, President Trump is example
00:14:01.440
number one. It's about the double standard, one set of rules for the politically connected, the other set
00:14:07.420
for the people they want to target. But maybe most important, it's about where does all this go?
00:14:12.760
Where does it all go? Because if they can do it to a president, they can do it to anybody.
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Any one of us, any of our constituents, any American they want to. And that's what's frightening.
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That's what's truly frightening. So I want to thank our witnesses for being here and talking about this
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most critical issue, how the government, how the agencies, how the law is being turned on
00:14:38.520
people that they politically disagree with. With that, I yield to the gentlelady from the Virgin
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Islands for her opening statement, the ranking member, Ms. Plasky.
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Thank you very much. Good morning to everyone that is here with us.
00:14:59.020
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00:15:03.980
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00:15:11.060
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Two weeks ago in the same room, we watched as the Republican majority attempted to use
00:16:25.580
the congressional hearing process to intervene in an ongoing Supreme Court case.
00:16:32.780
Republicans here did so by suggesting that they were concerned about how social media companies are bullied.
00:16:52.900
Okay, so we're going to have this hearing today.
00:16:58.820
I think Costello, his opening statement, is going to lay into Michael Cohen on the off day up at the New York trial.
00:17:04.660
Of course, Jim Trusty, President Trump's lawyer, is one of President Trump's lawyers, is going to join.
00:17:10.240
I think Gene Hamilton over at America First Priorities Institute is also going to join.
00:17:17.100
We're going to be dipping in as soon as Costello goes back.
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As you know, just keep the band net to the back.
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I just want to put in perspective, because you're going to hear today's CNBC.
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You're going to have Biden come out and say inflation's over.
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Jason Trenner has just notified us he is going to join us tomorrow morning on the show to walk through this.
00:17:54.600
So we're going to give you a double-barreled shotgun approach right after E.J.
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E.J., I know you've been increasingly worried that this is not being dealt with.
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The Fed and Treasury joined together in December to jump the shark, to try to prop up Biden's ability to win re-election by juicing, throwing too much liquidity in the economy.
00:18:23.500
And the numbers bear that out very, very clearly.
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And if we look at where inflation is trending, there's a chart there I think Denver has.
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It shows that there is absolutely zero evidence inflation is going back to 2%.
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There's no indication we're going any lower anytime soon.
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And it's because of exactly what you just said, Steve.
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The Treasury and the Fed are now working hand in glove to ensure that there is plenty of liquidity available for the Treasury.
00:18:55.120
But that means we're starving private markets of capital.
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And it also means that we are fueling this inflationary fire.
00:19:02.220
And, again, you're not going to put that fire out until you stop what's causing it, which is all of this runaway, profligate government spending.
00:19:10.520
You know, E.J., we're going to go back in a second to this House Webinization Committee.
00:19:15.980
And this is on turning the Justice Department against President Trump and his followers and all of MAGA to drill down on the details.
00:19:24.120
But also the House has been part of this problem.
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They've been a part of this problem on inflation.
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And I want to tell the Warren Posse, I spent last night working on this.
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Trust me, we're going to get to the bottom of what's happening here.
00:19:43.800
They're trying to the uniparty and radical Democrats are trying to de-Trumpify President Trump's ability to have impact on a second term.
00:19:53.460
I found out last night they're not close yet to give us a top line number for fiscal year 2025 budget, which has to be done theoretically by law by September 30th.
00:20:05.420
With all the budget done, the appropriations done, we start the new fiscal year, as people know, to watch this show, October 1st.
00:20:14.760
But I'm hearing rumors from pretty well-placed sources that there's not really any cuts.
00:20:21.560
If any cuts will be completely optics, performative.
00:20:24.700
If this is going to stay north of a $7 trillion spend, it's going to stay north of a $1.5 to $2 trillion deficit predicated on McCarthy gave them two years.
00:20:36.240
They're going to take a third year because the Republican House and the weapons makers don't want to step in here.
00:20:41.320
Your thoughts, I mean, can we really get, unless we throw down hard and stop the Biden regime and, quite frankly, stop Treasury and even the Fed by using the House,
00:20:52.660
are we going to be able to get our hands around inflation if they continue to spend at that level?
00:21:00.860
I mean, House leadership, let's be perfectly frank, has utterly failed the American people.
00:21:06.920
We can't really beat around the bush at this point.
00:21:08.880
They have utterly failed the American people, period.
00:21:15.300
If it doesn't, you're going to continue paying for it.
00:21:17.320
Look, the American people need to realize all government spending is paid for, all of it.
00:21:23.760
You can pay for it through borrowing, which means future taxes.
00:21:26.560
You can pay for it through the hidden tax of inflation, which is what we're doing right now.
00:21:30.240
But at the end of the day, all government spending is paid for.
00:21:33.740
If you're wondering, why is my life getting so expensive?
00:21:36.580
It's because you're paying for all of these runaway government deficits.
00:21:41.340
And Mike Johnson and the rest of the so-called Republican leaders in the House are part of the problem, frankly.
00:21:47.580
By the way, two of the lords of easy money today, actually, yesterday, it broke today.
00:21:57.500
Jamie Dimon, I think in Europe, addressing a central banker and big money center bank conference, said, finally, I think it was on German TV,
00:22:05.380
hey, this deficit, these are problems they have to be addressed if we wait for it.
00:22:09.740
If we wait to try to address them at 6% of GDP or 7% of GDP, these are too high.
00:22:16.980
Unless we take on fiscal responsibility, we're going to pay for it big time in the end.
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Goldman Sachs CEO Solomon, exact same thing at the exact same time.
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Do you think the lords of easy money are starting to awaken to this problem?
00:22:29.300
I mean, they've made a fortune on this, and they're going to make a fortune in the future.
00:22:33.280
But do they understand that we're getting ready to drive over the cliff with the pedal to the metal?
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But I think they're finally realizing that we're heading in the wrong direction.
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You and I were sounding the alarm on this literally a year and a half ago.
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And now, finally, some of the people who are in on the charade are starting to realize that, no, this cannot go on forever.
00:22:56.060
You know, the Treasury finally announced that annualized interest payments on the debt are up to $1.1 trillion.
00:23:02.680
Again, that's something we predicted over a year ago was going to happen.
00:23:07.880
And we are continuing, as you just said, Steve, to head towards that cliff with the pedal to the metal.
00:23:13.620
And this is why it is so important, going back to your previous point, the House needs to get its act together, and we need to get a hold on this spending.
00:23:23.300
And I don't just mean slow the rate of increase.
00:23:25.340
I mean we need to put a choke collar around this thing and seriously get these numbers down, or we are going to continue to see the impoverishment of the American middle class.
00:23:35.160
You're saying we're going to hollow out the middle class, unless you see not a change in the rate of growth, but unless you see, you, E.J., and Tony, a real plan of five or ten years to a balanced budget, but those cuts, big cuts, come in year one.
00:23:50.060
I mean hundreds of billions of dollars, which some is going to have to come out of the defense.
00:23:54.060
I mean Chip Roy yesterday was trying to sell us the CR, and I love Chip.
00:23:57.800
But, except for, you know, sometimes who he picks to want to be president, which I told him was dead wrong at the time, and he just wouldn't listen, that you can't do this by tapping it along and doing a CR and hoping for it to keep defense spending.
00:24:14.420
Defense spending is going to have to take a hit.
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I want everybody to know where they can go get your constant.
00:24:27.660
You're putting stuff up on Twitter all the time.
00:24:32.240
Best place to find me is going to be on Twitter, and the handle there is at real E.J. and Tony.
00:24:38.460
If Grace and Mo can get the charts from Denver, I want to push those out.
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Carly Bonet, this is very important, and Jason Trenerts.
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I want to make sure this audience is the cutting edge.
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We're going to go back to the weaponization committee.
00:24:50.960
I want to thank Real America's Voice for letting us blow the first break.
00:24:54.080
But now, more than ever, by the way, Philip Patrick is going to join me on Saturday.
00:25:04.220
We'll have Philip Patrick on Saturday talk to you about capital markets, because there's going to be even more turbulence,
00:25:11.540
and particularly with the decline of the U.S. dollar, the purchasing power of the U.S. dollar.
00:25:23.100
Of course, you've got the end of the dollar empire that lays this all out.
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If you read that, particularly, free installment number three, which was the debt trap, you understand exactly what we're talking about,
00:25:34.180
and you're understanding the power of currency in your individual and personal life, your community's life, your nation's life.
00:25:44.540
I think we're still doing opening statements, but Bob Castile will be up in a minute.
00:25:49.620
...by calling witnesses who have testified under oath that they literally are missing parts of their brain,
00:25:55.920
and another who self-identified as a time traveler from Canada.
00:26:00.220
That, my friends, is the select subcommittee on the weaponization of the federal government.
00:26:06.400
To be the party of law enforcement and be led by a man currently facing 100 serious charges.
00:26:12.520
We fail to understand that we are playing white knights for the most radical fringes of our society,
00:26:24.560
while making frequent references to Big Brother, no less.
00:26:29.560
They themselves are a growing embodiment of George Orwell's 1984.
00:26:35.880
Now, I know I've said it before, and if people don't know, I've been a Republican.
00:26:41.560
I was a Republican appointee when some of my counterparts were still in high school.
00:26:55.100
This is a cult of personality where Donald Trump exercises totalitarian control.
00:27:01.720
This is a subcommittee that intimidates witnesses who disagree with them,
00:27:06.280
questioning Americans' loyalty to their country if they don't support Donald Trump's agenda.
00:27:11.560
This subcommittee is using its platform to bully American people into believing falsehoods.
00:27:19.460
Falsehoods which serve little purpose other than to scare everyday Americans,
00:27:24.520
spread confusion, and attempt to re-elect Donald Trump.
00:27:28.420
It's a subcommittee that is taking orders from a disgraced former president.
00:27:39.040
Think I'm making up that Trump directs the actions of this select committee?
00:27:44.380
You think that everyone is not jumping through hoops to please Donald Trump?
00:27:51.920
Who was among the select few Donald Trump called on January 6th while encouraging thousands of rioters
00:28:00.600
to overtake the Capitol and steal the election?
00:28:09.640
Members here have refused to answer a subpoena related to that call from Trump and the attack on the Capitol.
00:28:16.880
Members of Congress said at rally after rallying, I'm busting my tail to get Donald Trump re-elected.
00:28:26.640
It's so important that we stay engaged and help Donald Trump get back the White House.
00:28:40.680
I think that's a representative from the Virgin Islands, I think.
00:28:44.040
I don't have my glasses on, so I can't really see.
00:28:51.140
We're going to get to Bob Costello's opening statement in a second.
00:28:55.440
We've got a couple of big things that have already happened.
00:29:02.440
Jason Trennan said, hey, the war against inflation by Biden is over, and inflation won.
00:29:09.900
The lived experience of the American working class and middle class is not going to change.
00:29:17.000
That is going to lead to, I think, increased people are awakening every day.
00:29:22.140
Because you, this audience, you're putting out information.
00:29:28.380
I just understand we got a shout-out in the representative's opening statement.
00:29:35.840
I think it was a clip with our own Natalie Winters, I think, as the host.
00:29:39.900
We're going to pull it here in a second and get it up.
00:29:42.720
The second part is that the weaponization committee, and this is not what we want, but, hey, it's a start.
00:29:50.320
And we're hearing behind the scenes big promises of judiciary, weaponization, subpoenas, an organized effort.
00:30:01.220
This morning, as yesterday, has all the Republicans right there.
00:30:05.920
You've got all the Republicans standing there, from Governor Burgum to Byron Donalds, Vivek Ramaswamy.
00:30:15.960
You've got Johnson, and you've got Corey Mills.
00:30:20.260
But what we need is people down in Washington, D.C.
00:30:23.360
We need Johnson, and we need to organize this committee into a real committee like Democrats would do,
00:30:29.800
like Democrats would do and have an organized effort to get out of the vast criminal conspiracy against President Trump.
00:30:37.620
Now, breaking news, right when we were coming on, Joe Biden's put out a video.
00:30:45.540
Joe Biden's got a video, I think, where he throws down and challenges President Trump to a debate.
00:30:56.180
This is because he has to get on a stage with Trump quickly because there's an effort behind the scenes for a movement.
00:31:02.820
Let's go ahead and play this clip while we're waiting for Bob Costello to come up.
00:31:12.360
Now he's acting like he wants to debate me again.
00:31:23.700
He's got to get on a stage with Trump or they're going to be Michelle Obama is going to remove again.
00:31:31.420
You're about to give his true and correct to the best of your knowledge, information and belief.
00:31:36.900
Let the record reflect that the witnesses have answered in the affirmative.
00:31:41.260
Please know that your written testimony will be entered into the record.
00:31:45.020
And we ask you to summarize your testimony as best you can.
00:31:57.200
Make sure you hit your mic and pull that turn your mic on and make it pull it real close.
00:32:00.420
Criminals have access to more advanced tools than ever.
00:32:04.220
And now they're using them to steal our most valuable asset.
00:32:09.960
In Miami, an elderly woman didn't find out an empty plot of land she owned was stolen until she went to pay taxes.
00:32:20.440
And property records showed she had sold the land.
00:32:23.420
They had forged her signature and registered a fake deed.
00:32:27.540
That's why you need to get Home Title Lock today.
00:32:31.620
Go to HomeTitleLock.com and immerse yourself in this information.
00:32:39.360
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00:32:41.800
All a thief has to do is forge your signature, refile as the new owner.
00:32:46.440
And once your home is not in your name, it can get really ugly and it can get really ugly fast.
00:32:53.400
They can take out equity loans or even sell your house to an unsuspecting buyer who shows up at your door one day and says,
00:33:02.380
Don't think your home insurance policy will protect you.
00:33:08.480
When you get to HomeTitleLock.com and use promo code Bannon at signup.
00:33:13.500
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00:33:30.840
Do not let these thieves steal your home in broad daylight.
00:33:38.820
I've been an attorney for 51 years and I'm the former assistant U.S. attorney in the Southern District of New York where I was deputy chief of the criminal division.
00:33:48.060
I am not now, nor have I ever been, an attorney for Donald Trump, any of his family members, or any of his businesses.
00:33:56.040
I've represented quite a number of high profile individuals, but never Donald Trump.
00:34:00.380
During the period of April 2018 to July 2018, I represented Michael Cohen.
00:34:07.840
Today, I can talk to you about what Michael Cohen told my law partner and me because Michael Cohen waived the attorney-client privilege at the request of the U.S. Attorney's Office for the Southern District of New York.
00:34:19.680
The reason was Michael Cohen had pled guilty to eight felony counts in the Southern District and was seeking to lessen his sentence.
00:34:28.880
And he thought he could be clever by going into the U.S. Attorney's Office and lying about cooperation.
00:34:35.540
Michael Cohen went to the U.S. Attorney's Office and accused Rudy Giuliani and myself of conspiring to obstruct justice by tampering with a witness, namely Michael Cohen.
00:34:45.220
The story, which they were floating at the time and his lawyers put out in the various newspapers, was that we had dangled a pardon under Michael Cohen's nose in order to keep him quiet so that he wouldn't testify against Donald Trump.
00:35:01.480
When I received a call from the U.S. Attorney's Office saying, Bob, we'd like to talk to you about your representation of Michael Cohen, I said to them, can I presume that you guys are sitting there with a copy of the waiver of the attorney-client privilege?
00:35:18.200
I told them to scan it over to me, and once I received it, I'd be delighted to talk to them.
00:35:24.240
I went down to one St. Andrew's Plaza with a lawyer who had been the chief of the criminal division when I was deputy chief, Tom Fitzpatrick.
00:35:34.940
And on the way into the office, he said to me, Bob, aren't you nervous?
00:35:40.480
I'm going to tell the truth, and I have documentary evidence that corroborates me six ways from Sunday.
00:35:46.940
And in fact, I said, I'll bet you $10 I'll have these people laughing within 15 minutes.
00:35:53.820
I went up and I sat with two assistant U.S. attorneys, Tom McKay and Nick Rose, as well as two FBI agents whose names, unfortunately, I don't remember.
00:36:04.740
I explained our entire history with Michael Cohen through e-mails and text messages.
00:36:10.660
I explained the many, many lies that Michael Cohen told us.
00:36:14.300
Most especially, I told them that when we first met Michael Cohen in April of 2018, keeping in mind now that I read Michael Cohen's testimony from yesterday's trial in New York on the way down on the train,
00:36:30.760
and virtually every statement he made about me was another lie, a lie that can be proven not just by me denying it, but by myself, Jeff Citron, or Rudy Giuliani, or e-mails or text messages, virtually every statement that he made.
00:36:46.000
What he tries to do is he picks out, cherry picks, certain e-mails or text messages and tries to make them look like something else.
00:36:54.700
The story he told yesterday was that Rudy Giuliani and I were somehow conspiring to try and keep him quiet, to try and keep him from flipping.
00:37:03.100
That's the term we use in the trade for cooperating.
00:37:07.800
The first day that we met with Michael Cohen at the Regency Hotel, at his request, and there's email correspondents that show this, we went up there.
00:37:17.900
I didn't have any idea who he was or what sort of problem he was in.
00:37:22.440
I saw this guy in a conference room at the Regency Hotel marching back and forth like a tiger in a cage.
00:37:30.780
He looked like he hadn't slept in four or five days, and he kept on—he knew my partner, Jeff Citron, for 10 years.
00:37:39.080
He kept on pounding on the table throughout his speeches that day.
00:37:43.060
Guys, I want you to know, I will do whatever the F I have to do.
00:37:50.920
He had to say that at least 10 times, maybe 20.
00:37:53.820
It was his constant litany as he walked back and forth.
00:38:01.020
He told us about the raid, that his offices had been raided, his home had been raided.
00:38:11.920
And I said, Michael, the people in the Southern District of New York are very smart people.
00:38:16.520
They got a search warrant for a lawyer's office.
00:38:18.800
You can't do that just by going to the U.S. attorney.
00:38:21.680
You need to go to Maine Justice and get approval from Maine Justice.
00:38:25.260
You need to show them that you have proof that a crime has been committed and that evidence of that crime is going to exist at the site to be examined.
00:38:35.240
I said, so, Michael, these people think that you did something wrong.
00:38:39.720
I said, this is protected by attorney-client privilege.
00:38:42.100
And it wasn't until he waived the attorney-client privilege.
00:38:44.980
I swear to God, Bob, I didn't do anything wrong.
00:38:47.240
In fact, I'm cooperating with the special counsel.
00:38:51.760
Of course, he forgot to tell us that he lied to Congress.
00:38:54.460
But that was part and parcel of the way Michael Cohen is.
00:38:58.440
So I sat him down and I said, look, Michael, clearly here, you're not the target.
00:39:12.680
When they get a search warrant, they're looking to gather evidence.
00:39:15.360
They already have evidence against you for something.
00:39:26.980
And by the way, up to this point, he had told us, when he introduced himself to us, that two nights before, he was on the roof of the hotel, of the Regency Hotel, seriously considering jumping off, committing suicide.
00:39:40.440
Because he couldn't handle the pressure of the legal problems that he saw coming his way.
00:39:45.760
And what he wanted to find out from us that day was his escape route.
00:39:51.320
Guys, you have to tell me what my escape route is.
00:39:56.600
My obligation as a lawyer at that point in time was to explain to him what his options were.
00:40:04.800
And I said to him, I said, Michael, the way this works is, if you have truthful information about Donald Trump, that's clearly what they're looking for, I can have all your legal problems solved by the end of the week.
00:40:18.740
His response, I swear to God, Bob, I don't have anything on Donald Trump.
00:40:22.800
I said, Michael, I want you to think carefully about this.
00:40:25.980
I probably came back to this subject 10 or 20 times during the two-hour period.
00:40:30.600
Every time I brought it up, every time he answered, I swear to God, God, excuse me, Bob, I don't have anything on Donald Trump.
00:40:39.200
I said, Michael, whatever you have has to be truthful.
00:40:43.140
If you think you can go in there and tell these people lies, you're crazy.
00:40:50.880
Probably the fifth or the sixth time I got around to doing that, he said, well, I know that money is missing from the Trump inaugural ball.
00:41:12.840
All you have to do is be truthful if you have some real evidence on Donald Trump.
00:41:22.280
This is exactly the opposite to what I saw him say on TV.
00:41:26.820
He was telling the grand jury in Manhattan and the district attorney's office.
00:41:30.820
He said, I went in there, I believe if my memory is correct, 20 times, including two appearances in the grand jury, 18 times preparation sessions with the DA's office.
00:41:41.660
I was sitting at home listening to this, and I said, that's nonsense.
00:41:45.460
That's not what he told Jeff Citron and myself.
00:41:47.380
And I decided at that point in time, I've got to make it known to both the defense and the prosecution what the real story is, who this guy really is.
00:41:57.180
So I provided all this material to Donald Trump's lawyers, and I provided it to the Manhattan DA's office.
00:42:04.920
And I asked for a meeting with District Attorney Bragg because I wanted to go in there, let him look me in the eye, and let me explain all of the stuff that we had on Michael Cohen that showed that he's an inveterate liar, that God can't be trusted.
00:42:21.320
But what he did say was, I'll let you have a meeting with the assistant district attorneys.
00:42:27.600
Now, when the Trump people heard about all this, they insisted, as was they right under the law, that the DA put me before the grand jury.
00:42:41.280
On the Friday before, I gave the DA's office the courtesy of a Zoom conference for about an hour and a half.
00:42:47.420
Eight assistant district attorneys and me on the other end.
00:42:51.240
I explained, they didn't really ask me any questions.
00:42:56.580
Nice, warm greeting for somebody who's trying to show them the right path quietly and privately so that they could correct their error before they made it.
00:43:14.980
It just says I have 1.38 to go, or is that 1.38 over?
00:43:22.580
Will the witnesses all be given seven, eight minutes?
00:43:27.800
So we didn't know that in advance to be able to-
00:43:32.180
But she didn't have time to prepare eight minutes of testimony, opening statement.
00:43:37.880
She can probably ad-lib for a few minutes if she'd like, but that's only up to her.
00:43:41.900
Well, we'd like it to be something more than ad-lib, as we just heard.
00:43:46.380
They're already knowing Bob Costello very well.
00:43:50.340
Went a little over his time, but this is going to be quite interesting.
00:43:54.880
He dropped a couple of bombs right there on Michael Cohen.
00:43:57.900
While we took it back and finished up with inflation, guess what?
00:44:02.480
Your favorite show made a big star turn in the Democrats' opening statement.
00:44:09.300
If Denver can go ahead and let it rip, I'll play in its entirety and come back for some commentary.
00:44:13.180
This is just moments ago by the Democratic Congresswoman, I think from the Virgin Islands.
00:44:18.640
She let it rip on her opening statement and featured the war room.
00:44:23.280
And even after the embarrassment of recent hearings today, Donald Trump and his cronies don't think that the chairman is doing enough.
00:44:32.580
We're here today simply because Donald Trump's sycophants have been taunting the members of this committee on the GOP side
00:44:41.600
and Judiciary Republicans for not doing anything tangible to defend Trump against our judicial system.
00:44:49.660
Lackies like Natalie Winters, a Trump loyalist and an executive producer for Steve Bannon's show,
00:44:57.520
have been mocking Chairman Jordan's leadership of the committee openly.
00:45:02.140
As you can see up there, when the House Judiciary tweeted,
00:45:12.260
Imagine actually believing at GOP, at Judiciary GOP will do anything about it.
00:45:20.660
Just as one example, on Monday, she put that tweet up and then Fox's Maria Bartiroma and Steve Bannon himself have gotten into the act.
00:45:36.740
Why aren't I hearing anything from this committee?
00:45:52.600
President Trump is in a trial all day long, every day in New York City.
00:45:57.440
Where is this committee of weaponization and what are you doing about it?
00:46:01.840
I just spoke with Kevin Hassett, the former chairman of the White House Economics Council, and he said,
00:46:07.420
Make no mistake, if we see President Trump go to jail because he violated this gag order, markets will react.
00:46:17.720
So with all the respect, I'm not blaming you specifically, but it's not enough to set up a committee that's called the weaponization of federal government.
00:46:30.880
We want to know what the heck is going on in this New York trial where nobody can seem to come up with a crime.
00:46:38.400
Well, I'll tell you what I'm specifically doing.
00:46:44.220
I'm sure you're a good guy, and I'm sure you're trying to do a lot, but it's not, as Maria Bartiroma says, and man, she lit him up.
00:46:53.840
It's not enough to set up a committee just called the weaponization of the federal government.
00:47:00.600
We want action, and that's why we're here today.
00:47:05.500
We're here at the beck and call of Trump fanatics and talking heads on cable and Internet talk shows in the MAGA world
00:47:13.640
who, like Bartiroma and Bannon, have goaded this committee to act
00:47:19.040
because the purpose of this select committee is, in fact, to be an arm of the Trump campaign and take his orders.
00:47:28.940
And yes, we know your mad things are not going your way.
00:47:33.000
Republicans are upset because the Justice Department has determined that it must prosecute Donald Trump
00:47:38.240
because the allegations against President Biden amount to nothing, both at the Justice Department
00:47:44.920
and even in this chamber in the House, by the very committees Republicans created to investigate President Biden.
00:47:54.420
And ma'am, unfortunately, you would be 1,000% incorrect.
00:47:58.600
There has not been enough done, and we don't call it goading.
00:48:04.200
This audience of American patriots and citizens are demanding, demanding a formal criminal conspiracy investigation,
00:48:17.700
You guys will have a ranking member, and you will have minority counsel,
00:48:23.280
You'll be able to cross-examine witnesses as the American congressional system set up.
00:48:27.400
Now, something that didn't happen on J6, and the reason nobody pays attention to J6
00:48:32.300
and your whole big push for anti-democracy and all that, cratered because by an 11% differential,
00:48:40.160
the proxy for the American people, the kind of independent, non-affiliated Republican or Democrat voters
00:48:45.860
have told pollsters by 11%, wait for it, Donald Trump is a better guarantor of our democracy
00:48:53.400
than the illegitimate guy occupying, the usurper occupying 1600 Pennsylvania Avenue.
00:49:02.800
This weaponization, Jim Trussie, the president's lawyer, is going to be up next.
00:49:08.140
I really want to thank Real America's Voice, one, for pulling the clips,
00:49:10.660
also for juggling back and forth, and for breaking a couple of, blowing a couple of breaks here.
00:49:21.640
We're going to be going in and out of the weaponization committee.
00:49:24.920
If you really had a chance to listen to Bob Costello's testimony under oath and his allegations,
00:49:32.660
pretty, pretty, pretty powerful for this fiasco going up in New York.
00:49:39.700
We're going to turn on Real America's Voice in just a moment.
00:49:44.500
I want to warn you of a huge change that could be coming to our money and our bank accounts.
00:49:50.200
First, think back to 9-11, shortly after the government pushed through the Patriot Act.
00:49:54.660
This gave the government power to spy on innocent Americans by monitoring our phone and email
00:50:02.600
Now, Jim Rickards, editor of the independent financial newsletter Strategic Intelligence,
00:50:07.540
and New York Times bestselling author, is warning about a coming event that could elevate this
00:50:13.280
governmental surveillance to a terrifying new level.
00:50:16.300
In fact, some of the guests I've had on The War Room believe that the government will soon
00:50:23.820
If we say the wrong things on social media, donate to the wrong causes, buy firearms, or even vote MAGA,
00:50:30.440
the government may be able to shut us out of our bank accounts.
00:50:34.720
I can't say for sure if this will happen, but it's an interesting and dire warning.
00:50:40.260
Fortunately, Jim Rickards, an American patriot and friend of mine, has made it his mission to educate us
00:50:45.280
on what he believes is coming and how to protect yourself from the possibility of programmable money.
00:50:52.580
Watch Jim's warning video now before it's censored like I've been in the past.
00:51:00.360
That's RickardsWarRoom.com now to see the video.
00:51:04.340
...to foster the ideal conditions for individual liberty, human success, and societal flourishing.
00:51:11.400
But the system was always predicated upon the continued existence of a just and moral society,
00:51:19.300
where action in the pursuit of justice and morality would counteract the worst of human ambition.
00:51:26.520
It was also predicated upon the continued existence of a federal government,
00:51:30.100
strong enough to do what the governed had consented to in the Constitution,
00:51:34.180
but not so omnipotent as to be able to undermine the liberties of the individuals and the states.
00:51:41.400
It was also predicated upon a recognition that the concentration of power in the hands of a few
00:51:50.580
And of course, the mere existence of words on paper alone does not guarantee any individual's rights.
00:51:57.700
Rather, it has been action taken by principled people that fulfills those guarantees
00:52:07.040
Put differently, in America, thanks to the wisdom and foresight of our founding fathers,
00:52:15.380
our Davids have always had a chance against our Goliaths.
00:52:19.740
But sadly, we live in unprecedented times where the concentration of power in the federal government,
00:52:27.960
particularly in the executive branch under President Biden's leadership,
00:52:31.760
has served as the fulcrum through which other powers in society oppress the individual
00:52:37.020
and undermine the foundation upon which our national success resides.
00:52:41.840
The Biden administration, and most notably, the Department of Justice,
00:52:48.100
appears to have embarked on a journey of political persecution of those with whom it disagrees,
00:52:54.740
with the end result being the total social, economic, and political domination of the populace.
00:53:02.480
And beyond its attempts to silence and imprison its political opposition,
00:53:05.800
the Biden administration has engaged in an obsessive-compulsive campaign of division
00:53:11.020
and spoliation of the public fisc based on the immutable characteristics of American citizens.
00:53:22.360
We live in a time in which any attempt even to describe the current state of affairs
00:53:27.960
gets labeled as disinformation, misinformation, malinformation, and worthy of censorship.
00:53:36.180
Or worse, content worthy of subjecting an individual to criminal prosecution.
00:53:45.940
Business leaders are subjected to intrusive investigation solely because of their outspoken views.
00:53:56.100
And all the while, violent and repeat criminals run free in major cities across the United States.
00:54:03.740
In this new and unprecedented world, everyone, including a former president of the United States,
00:54:11.520
is threatened by the federal leviathan and private elites who seek total domination
00:54:21.080
The political persecution of President Trump by the Biden administration is unlawful.
00:54:40.120
The intended impact of the administration's conspiracy
00:54:42.980
extends far beyond any personal consequence to President Trump.
00:54:47.780
Instead, the intended result is to chill dissent, silence speech,
00:54:55.420
and convince the American people that the weight of the federal government
00:55:00.640
can be forcefully weaponized against anyone who stands in the way.
00:55:05.680
President Trump is in the administration's crosshairs to discourage anyone now or in the future
00:55:15.520
The Biden administration must not be allowed to indict and potentially imprison its political opposition with impunity.
00:55:25.120
My written statement highlights just three glaring problems, examples of lawfare that are being used against President Trump.
00:55:36.700
Number one, the Biden White House granted an illegal special access request
00:55:43.340
to allow the Department of Justice to illegally obtain access to President Trump's records.
00:55:50.120
Two, the Biden administration is prosecuting President Trump
00:55:54.280
based on an erroneous and faulty interpretation of the Presidential Records Act
00:55:59.520
and actually provides individual bureaucrats with greater control over their records than President Trump.
00:56:07.140
Three, the Biden administration has weaponized a white-collar criminal statute for the first time in history
00:56:20.320
The average American citizen residing outside of the Beltway,
00:56:28.660
where ends justifying the means seem to be a mantra for many,
00:56:32.100
is tired of watching institutions they once trusted violate the law
00:56:37.820
and undermine the critical components of the constitutional and social constructs
00:56:43.160
that made ours the greatest country in history.
00:56:51.400
The time is now for institutional ambition to counteract institutional ambition.
00:56:58.660
For Americans to stand up unafraid and unapologetic for the values that they hold dear.
00:57:07.160
And for our republic to reject the radical weaponization of the executive branch.
00:57:30.640
We're going to be going in and out of this for the remainder of the morning,
00:57:38.300
Jack Posobiec is going to join us in the second hour.
00:57:40.500
A very special guest and very close friend of Dr. Peter Navarro will be in studio
00:57:46.320
following on Sergio Gore and, of course, Don Jr.
00:57:50.120
coming by after they saw Dr. Navarro in prison last week, so we'll get to all that.
00:57:58.840
An Islamic flag now flies above the state capital of that magnificent state.
00:58:06.000
We're going to talk to somebody about exactly how that happened.
00:58:12.900
In the pre-dawn hours of what we're putting together, war room?
00:58:19.200
They're blaming this weaponization committee on this audience.
00:58:22.180
You out there, because you put pressure on people.
00:58:24.560
You notified people and said, hey, we've got to be doing this.
00:58:34.520
15% discount, but immerse yourself in all of the recommendations from War Room Posse members.
00:58:51.640
The greatest concentration of nutrients known to man are the animal kingdom.
00:58:57.620
We're going to be back with weaponization and a whole lot more here in the War Room.
00:59:13.160
The IRS is hiring an army of agents targeting hardworking Americans like you.
00:59:26.780
Tax Network USA has a brilliant strategy to solve your IRS problems quickly and in your favor.
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For instance, they discover a limited special offer that the IRS is willing to waive $1 billion in penalties.
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But you have to find out today whether you qualify.
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They've already solved for folks, just like yourself, $1 billion in tax debts.
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It's a company that makes a soft gel supplement rich in antioxidants to help people like you and me keep a healthy heart.
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While COVID gets all the headlines, it's important to realize that heart disease kills nearly 700,000 Americans every year.
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Yes, heart disease is the number one killer every year, year in and year out.
01:00:59.400
Heart disease builds over time, hypertension, high blood pressure, bad cholesterol, diabetes, all of it affects our heart.
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A healthy heart is key to being energetic as we get older.
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It is never too early to take care of your heart.
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You can start in your 30s, and when this happens, you're at serious risk by the time you turn 60.
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If you're going to be part of the posse, you need a strong heart.