In this episode of the War Room, Stephen K. muses on what it means to be an American citizen, and why it s so important that our children grow up to be American citizens. He also talks about the dangers of "populism" and the need for a strong middle class.
00:04:13.760I disagree with him on a lot of stuff, but these people are directionally – their heart's in the right place.
00:04:18.620But we have to understand it's all not just about increasing margins.
00:04:23.000What that conversation missed – and we have to put this in context.
00:04:26.100One of the things we've been very hesitant about AI and unbridled AI, artificial intelligence,
00:04:31.740is the Learn to Code group – just talk to any tech worker right now.
00:04:37.340The artificial intelligence is going to cut out a vast amount of jobs in the whole tech industry.
00:04:44.860So the American tech worker has been under tremendous – tremendous pressure from offshoring and all that to the degree we've tried to bring it back.
00:04:54.640It's now going to be under more immense pressure.
00:04:57.660Remember the days – we used to do this at Breitbart all the time.
00:04:59.760We would interview the foreman down at – the head guy, the head man at Disney.
00:05:04.860At Disney, and they had to train – remember that?
00:05:08.300They had to train the 50 foreign workers that were taking their jobs.
00:30:45.020They're definitely going to celebrate it, and they are already for that reason.
00:30:49.400But the problem is, look, the facts were bad in this case.
00:30:52.280Whoever made the strategic choice to make this kind of the poster child for the idea that, you know, you can't be sent to prison for 15 years.
00:31:07.940Because, you know, you only need four votes to get cert.
00:31:10.860So you get the three liberals, and you just get one justice who's looking at the facts, right, who may not be what you're calling some of the starters.
00:31:17.580And now you have cert, and now the Supreme Court has to decide it.
00:31:20.520So I think Clarence Thomas sees that this could be the camel's nose under the tent, and this will be used to restrict all kinds of gun rights on other bases.
00:31:31.900And the other justices are focused on the facts, I think, and they're saying, look, this looks like a bad guy.
00:31:38.260But should we surmise that they're going to be flooded with all kind of now suits and different things about these red flag laws?
00:31:44.660Should we anticipate a tsunami of that?
00:31:46.860Yeah, so what we have at this point, Steve, is we have this case, Rahimi, which is going to be, you know, a high watermark of regulating, and then gun rights.
00:31:56.760And at the other end, we have the Bruin decision that Justice Thomas wrote.
00:32:00.900And, you know, majority of the court sound on to both of these.
00:32:04.120And the issue in all these cases going on in the future is do they hew to Bruin, which protects Second Amendment rights, or do they tack closer to this new Rahimi decision?
00:32:13.060That's going to be the fight in these future cases.
00:32:16.640Okay, I'm going to get you on either tomorrow if you're free or maybe Monday.
00:32:19.440But next week will be, correct me if I'm wrong, one of the most monumental weeks for opinions in the Supreme Court.
00:32:26.300You've got five major administrative states, including Chevron Deference, the Mac Daddy of all of it.
00:32:31.840You've got the Fisher, which I think is going to be, I think it's going to be like Dred Scott.
00:32:36.880I think this could be so, if it goes the way that we feel it could go, this could blow a hole.
00:32:42.620You could have the whole federal judiciary.
00:32:44.360I mean, this could cause a scandal of the utmost importance.
00:32:56.320But, look, let me also say that today that second Supreme Court criminal case I mentioned, Erlinger, has good stuff in it for Donald Trump and for the J6ers.
00:33:05.760It holds that you have to have unanimous jury verdicts and that you can't have sentencing enhancements that are not found by the jury.
00:33:15.340So the latter helps the J6ers because you have judges who want to throw sentencing enhancements at them.
00:33:20.400And the former helps Donald Trump because you don't have jury unanimity in the Manhattan verdict against him.
00:33:29.340But the big administrative law case of whether Chevron deference is going to continue or whether it's going to be put into its grave or restricted, that's coming next week.
00:33:37.840The Fisher case for the January 6ers in terms of this made-up obstruction of an official proceeding being thrown at the January 6ers, that's coming up.
00:33:47.300And, of course, you know, I think for us in terms of the impacts on the election, the biggest of the decisions, whether Donald Trump has some form of immunity against Jack Smith and his trumped-up charges against President Trump.
00:34:02.120Jeff, where can people follow you before we get you back on, sir, between now and then?
00:34:39.680You get access to Philip, all the analysis, his team, everything.
00:34:43.300I had to get you on, though, this week because of the monumental.
00:34:46.160This was a called shot by the Birch Gold team, War Room, all of us working, Brad, everybody, a couple of years ago about the $2 trillion deficits.
00:34:54.600I just want you to put it in perspective.
00:34:56.340Tell me, where is this thing going when you look at it analytically and you're seeing today, you know, Mike Benz has a big piece on the on the Saudis getting out of the petrodollar.
00:35:13.580Look, we've been talking about this for a long time, as you say, and the mainstream are now catching on.
00:35:19.160CBO corrected its government deficit forecast for the year.
00:35:22.760It's now up to $2 trillion from, of course, a paltry $1.6 trillion.
00:35:27.660Now, it's bad enough that Congress suspended the debt ceiling and made themselves responsible for reigning in the Biden regime's sort of budget blowout.
00:35:37.620But now they've let him get away with $2 trillion plus deficits four years in a row.
00:35:44.140Now, this whole time, the White House has been talking up its fiscal responsibility.
00:35:49.920Remember, back in March, Biden was telling us how he was going to reduce the debt and grow the economy from the bottom up and the middle out, not the top down, and how all of this new spending was, of course, paid for.
00:36:03.100So the question is, what happened to all of that goodwill?
00:36:06.780Well, in Biden's case, it was $95 billion in foreign aid package to Ukraine, student loan relief for $145 billion, underestimating Medicaid payments for $50 billion, $75 billion for the FDIC insurance fund.
00:36:24.560But the biggest and least surprising miscalculation of all, interest payments on the national debt.
00:36:30.520The CBO director, Philip Swagel, came out and described those payments, and I quote, as large by historical standards, which begs the question, what other standards are we supposed to judge it by?
00:36:46.520Now, they predicted that the budget gap is going to get to $24 trillion over the next 10 years, up $2.5 trillion from a previous estimate just three months ago.
00:37:07.020They think in 10 years, U.S. national debt is going to reach $57 trillion.
00:37:11.640Now, hilariously, they're also forecasting the average interest payments that we're going to pay on this debt will be at 3.5%.
00:37:21.980Steve, if we pay an average 3.5% interest on this debt over the next 10 years, you can send me your biggest hat, and I will eat it live on air.
00:37:37.760Another thing we learn, and this sort of sums it up, right?
00:37:42.400The federal government has net financial assets of $2.2 trillion, annual income of $4.4 trillion.
00:37:48.680So Washington now thinks it's business as usual to spend 50% more than we collect every single year until we have a negative net worth of $55 trillion.
00:38:59.700They're still financing this like a third-world country now, basically on our credit card 90-day T-bills instead of going out to 10s and 30s because she doesn't want to push that up.
00:39:09.180You're financing this like these are – they've gone from not serious people to dangerous people.
00:39:14.880The financial overlords are now – it's not the debt – let me say this.
00:39:20.780Let me say it a different way, Patrick, get your response.
00:39:23.480Scott Besson was on here the other day.
00:39:24.960He said the deficits and the debt have now become, he believes, the most significant national security issue we have in the United States.
00:39:32.300I say it's not – it's the people making decisions and pushing this.
00:39:38.200They're a national security threat because this is insanity.
00:39:42.760The rational actors here, the rational actors are some of our biggest enemies in the global South BRICS nations.
00:39:51.680Like I said, hey, those kids, their best embrace went to Sloan and went back and worked for a central bank, have an HB12C, have done the net present value and the discounted cash flow.
00:40:01.200And they said, hey, the purchasing power of the dollar is going to drop 50 percent, right?
00:40:05.680So why are we taking IOUs from guys that are not serious about doing anything about it?
00:40:10.440Is that essentially the summary of where we are, that this is not just uncharted – this is not uncharted territory.
00:40:15.760It's uncharted where we have the pedal right to the metal, sir.
00:40:43.020I'm going to restate the point that I said a moment ago.
00:40:46.740Why would you ever take an IOU from somebody that is so indebted?
00:40:50.940It doesn't make any rational sense, and every decision that this administration is making is playing directly into the hands of our enemies.
00:41:01.680So you are correct that the most dangerous people today are the administration, and they are driving us off a cliff.
00:41:09.420I've said before, I'm worried we're at the point of no return already another four years, and it is a guarantee.
00:41:16.920It is a guarantee that this game is up.
00:41:19.920So we need to make changes, and we've got to do it now.
00:41:22.900But the way this is going, we're at the point of no return.
00:41:26.060I don't see a soft landing anywhere on our horizon.
00:41:32.260Before I get – after the break, I'm going to keep you for a couple of minutes because I want to ask you about how people put this into their own life because I'm not a gold bug.
00:41:40.940I've been forced there to say, man, you need to hedge this, and the only hedge that looks like it's out there has been precious metals, right?
00:42:34.600If this wasn't an alarm bell for this administration, I don't know what is.
00:42:39.780The only thing I think will be a dramatic change in the polls that will lead to some action because nothing else seems to be driving these people.
00:42:50.000All they seem to care about is re-election.
00:42:52.480How can you rationalize $145 billion to pay down student loans when you are the most indebted nation in history?
00:43:00.800You are desperately attempting to buy votes no matter the cost.
00:43:05.000So the answer is if they haven't realized it already, I don't know what is going to shake these guys outside of shaking them out of office.
00:44:00.180Most emergencies come without warning.
00:44:02.860And when the next one comes, you won't have time to pack and to prepare.
00:44:07.800You need to get ready now, before an emergency strikes.
00:44:11.160Your supplies should be ready to grab and go right away.
00:44:15.240Secure these supplies right now at MyPatriotSupply.com.
00:44:19.380Start with the four-week emergency food kits from MyPatriotSupply, helping millions of Americans, and I mean millions of Americans, prepare since 2008.
00:44:29.040MyPatriotSupply are experts in self-reliance and preparation.
00:44:33.080Their four-week emergency food kits offer over 2,000 calories every day, protected by heavy-duty, four-layer packaging.
00:45:22.920I would love backup, but you don't have to.
00:45:25.720But just looking at the math, I think we can say pretty assuredly that the purchasing power of the United States dollar is going to continue to decline.
00:45:33.740Would you agree with that proposition?
00:45:36.880I would agree with that vehemently, yes.
00:45:39.120Yes, and there's nothing – it sure is the turning of the earth, correct?
00:45:47.920There is no other alternative given the position we put ourselves in.
00:45:53.220No, and I'm saying – and folks got to understand now, please, that there's no easy decisions to make on this one.
00:45:59.020This is so far gone now, and our sociopathic overlords are driving us further into this.
00:46:03.880Trump's the last shot you got for any kind of supply-side solution to this at all.
00:46:08.800So given that as a proposition, that if you just don't – and we're saying if you just look at the math and what they are doing and the built-up structural things of the debt, how they're financing, it's not just the fiscal madness of the spending.
00:46:22.380It's now coupled with how they finance it short-term essentially on a credit card, okay?
00:46:27.940And this is why your credit card is at 29% APR and why one out of every seven kid under 29 is tapped out, why there's 10% of the credit cards are no longer functioning.
00:46:40.120They've been pulled because you're tapped out.
00:46:43.080Philip, given that, I want people to go – and particularly people who have never been gold bugs and never even considered gold.
00:46:49.080I think you need to immerse yourself right now in information.
00:47:09.940To get the information for your viewers, birchgold.com forward slash Bannon.
00:47:15.600That's going to get them access to a free information guide to the reports on the end of the dollar empire that you wrote.
00:47:22.540And a lot of good information on how and why to invest in precious metals today.
00:47:28.740And, you know, you said you weren't a gold bug.
00:47:31.540And I was a banker for a lot of my career.
00:47:34.580You know, I would never – if I'd known the percentage that I had in precious metals of my own portfolio today as a banker back then, I would have fallen off my chair.
00:47:44.020I would have never been able to predict it.
00:47:46.080But I would never have been able to predict the situation of the United States today and the problems that we have today.
00:47:53.180And I think for where we are, precious metals are the best way to hedge your exposure.
00:47:58.380And it's the reason that central banks around the world are buying gold for the last two and a quarter years at record levels.
00:48:05.300And, you know, we talk about very high-level concepts.
00:48:24.640And we're having to take out credit to do it.
00:48:27.000And the cost of that credit is increasing.
00:48:28.900And precious metals are a way to hedge in the same time period that this administration has driven the value of the dollar down 17 percent, gold's up over 25.