00:06:03.100It was the right thing to do, but it had a political cost.
00:06:08.300For most of my life, the American left was the side channeling legitimate frustrations with American institutions.
00:06:14.660Democrats were the ones who pointed out how innocent people could get caught up in America's criminal justice system.
00:06:21.460Liberals and progressive were the ones who called out abuses by the CIA and by America's military-industrial complex.
00:06:27.840But the realignment that happened under Donald Trump meant that Democrats had to cede much of that righteous outrage
00:06:34.520to Republicans who were trying to tear all of it down.
00:06:39.320And voters who felt frustrated by those issues found their way into Donald Trump's coalition.
00:06:46.180As former Obama foreign policy advisor Ben Rhodes told James Pogue,
00:06:51.080I think the innovation of the Bannon and Vance project is that it's forced the left to become defenders
00:06:57.400of the very institutions they're supposed to be skeptical of, like the CIA, like the broader intelligence community, like NATO.
00:07:04.060Or as Joe Rogan put it in his interview with Trump, that is how Republicans became punk rock.
00:07:13.560Again, I don't say any of this to endorse these ideas or to chastise anyone, least of all Kamala Harris and Joe Biden,
00:07:30.520who displayed remarkable and responsible leadership of this country during just enormously troubling times.
00:07:37.040A lot of you listening to this program, including me, would like to not have to think about anything Donald Trump or Steve Bannon or J.D. Vance or Joe Rogan
00:07:48.500have to say about our country or its people or its place in this world.
00:07:53.440But in order to do that, in order to reach a point where these people are once again far away from the levers of power in this country,
00:08:02.040we have to begin by understanding how they got there in the first place.
00:08:09.820OK, Thursday, 7 November, year of our Lord, 2024.
00:08:15.760The so the post game analysis is now going through and I think they realize the scale of what this audience has brought about the victory.
00:08:26.300And we have to and we're going to do over the next couple of days some to make sure that we show you the analytics to show you the scale of this.
00:08:42.760Alex Wagner was in Obama's White House and she's one of the I would say the Rachel.
00:08:47.660She's like Chris Hayes and a little bit of Joy Ann Reed.
00:08:53.640I guess Chris Hayes and Joy Ann Reed are more acolytes of Maddo who runs the deal.
00:08:59.120But right there, she's taken Pogues and that's the Vanity Fair story, which I recommend everybody reads.
00:09:05.440And I know that a lot of folks in this audience don't doesn't do not subscribe to Vanity Fair.
00:09:10.660But if you go get the edition of it's the November edition, but I think it's on newsstands now.
00:09:15.160So it has a cover story about this by this guy, James Pogue.
00:09:20.040He does, I think, a really fantastic job of talking about the war room and talking about what we have discussed and the information we put forward to you, this audience, and actually who this audience is and how it's made itself into an army.
00:09:34.480It's kind of the army that's on Trump's right flank.
00:09:37.220Remember, in every war, every battle, you have different ways that you align your forces.
00:09:44.080And we're quite proud to be on the to the in the MAGA movement to the to the to the right on the recover the right on the MAGA movement.
00:10:57.800But the reason that the lived experience of the American citizen is not the best and that the lived experience of the American citizen is bad because of globalization and everything that's happened in these foreign wars and the building of the American empire is that the oligarchs that control the American empire control the institutions of the American empire.
00:11:26.300Which was which were totally complete opposite of what the revolutionary generation fought for or the exact opposite of what the the framers fought for.
00:11:41.800Hamilton may be a slight exception to that.
00:11:48.140And I will go through that in the next couple of days.
00:11:50.520But the greatest generation, the ones that went to the battlefields, because remember, they weren't the decision makers.
00:11:58.700They were they were the they were the cannon fodder, but fought so valiantly and so bravely.
00:12:03.200And and and and, you know, were a leading part of and participant in the destruction of the Nazis and fascism and imperial Japan imperialism.
00:12:26.840He's talking about the darker forces in the world.
00:12:29.120He goes back to the Trinity project and he even takes it back for that, that the the the the bringing of nuclear weapons and what nuclear weapons meant and how that tied into the American empire.
00:12:41.500But the American empire was also not just military.
00:12:46.280What is called neoliberal, the neoliberal neocons.
00:12:50.760And what that is, is that the the FDR's administration understood that unfettered, unfettered libertarian capitalism is just not going to work, that you need you need structures around capitalism.
00:13:03.280And that's what, you know, market reforms.
00:13:06.020That's what came became the kind of the neoliberal part.
00:13:08.940The neocon part was the building of the military aspects and the intelligence aspects and then the law enforcement aspects of the empire.
00:13:17.060Exactly what the framers didn't want us to do.
00:13:18.980And as this spread globally, what the leaders of that, many of whom came from working class and the middle class, I went to Harvard, one of the factories where they take working class kids and middle class kids, at least some percentage of them, and they stamp you.
00:13:33.880Boom, you get your union card and you go in and become a foot soldier in the globalization army.
00:13:38.780And that built up an empire that not just our framers in our very original DNA of this country, of this country, it then worked for the oligarchs.
00:14:03.000The left has become the defenders of these institutions that are clearly corrupt and need to both have purges and also need to be reconstructed.
00:14:15.860The intelligence community, the Department of Defense, the military, the DOJ, the FBI, the whole law enforcement, the courts, these judges are out of control.
00:14:28.420A lot of these judges are out of control.
00:14:29.700You can see this on the attacks of Trump in the MAGA movement.
00:14:33.960And President Trump is back like an avenging angel.
00:14:38.200And this is the long, we have a long and difficult struggle ahead of us.
00:14:44.080As I've been saying, Tuesday is so important, but it's just another marker on the road of this journey.
00:15:01.800They now want to use the technology behind Bitcoin for their own Orwellian purposes, their gold to dominate our economy by forcing everyone to use central bank digital currencies, which they control.
00:15:14.120Imagine your every purchase being called into question, your every move tracked, like you live in a communist country.
00:15:21.800This is not the America we want, but it is the America they want to create.
00:16:14.400I mean, the guy does not have a democratic bone in his body.
00:16:17.240He tried to overthrow the constitutional order of violence.
00:16:20.380We all saw it happen on national television.
00:16:22.240He celebrated, talked about using political violence repeatedly in his campaigns.
00:16:27.200And because of all that, we know they're going to try to do things to subvert and alter the constitutional order.
00:16:32.920But the most important thing to those of us who are committed to stopping them is to remember their success is not foreordained in any way.
00:16:41.720They're going to try and there are going to be a lot of people who try to stop them.
00:16:45.160And the outcome of that is as yet undetermined.
00:16:48.540And I'm not saying this from some place of airy hope.
00:17:19.400With much of what you all have said, the only piece that I think is missing is what I think is essential for us to figure out how to manage this period.
00:17:28.640Which is we have to engage in a forensic examination of how we got here.
00:17:35.560And that forensic examination compels us to confront issues that we, progressive people, and also just people who support democracy, have not sufficiently dealt with and confronted.
00:17:49.140Obviously, you know, for me, one of them is ongoing racism and white supremacy, which is such a part of this country.
00:17:56.840And it has been kind of the gateway drug.
00:17:59.740Trump couldn't have come to power without it, without making appeals to our ongoing flirtation, encounter, embrace of racism and white supremacist ideology.
00:18:13.560And every time he wasn't stopped, every time we treat this as though it is not a deal breaker for leadership in this country, we open up the door to the danger that Trump has represented.
00:18:32.000There are a couple of moving pieces here, and I need this audience to begin to understand the framing of this and the architectonics of how we do this because we're going into the next phase.
00:18:45.440I told you that if you did your job and what you did was incredible, unique in American history, and you see this.
00:25:51.200And finally, the people with pitchforks and the peasants said, we've had enough.
00:25:55.840And many came to our side because they saw what you and your network and your correspondence and all that.
00:26:03.400I haven't seen, by the way, on MSNBC, where all those legal people every day all over you on Trump is evil and Trump is going to prison and Trump is guilty of these felonies.
00:27:07.400No, you weaponize the institutions and you were part of it and your staff was part of it and the senior people at MSNBC and the people that own NBC were part of it and the Washington Post and the New York Times because they understood in the old playbook.
00:27:23.720Look, we will take out Trump and once we take out Trump, this movement will just fritter away.
00:27:31.520What does not kill you makes you stronger.
00:27:36.860The central part of our movement is resilience.
00:27:40.340You can kick us to the curb, you can stomp us, you can beat us in a battle, but you can't win the war and you will not win the war.
00:27:49.240You people are revolting, revolting what you have done to this country, what you've done to the citizens of this country.
00:28:00.740And yes, yes, yes, you will pay a price for that.
00:28:11.080I want to warn you of a huge change that could be coming to our money in our bank accounts.
00:28:18.440First, think back to 9-11, shortly after the government pushed through the Patriot Act.
00:28:22.440This gave the government power to spy on innocent Americans by monitoring our phone and email and tracking our movement across the Internet.
00:28:31.300Now, Jim Rickards, editor of the independent financial newsletter Strategic Intelligence and New York Times bestselling author,
00:28:37.960is warning about a coming event that could elevate this governmental surveillance to a terrifying new level.
00:28:44.140In fact, some of the guests I've had on the war room believe that the government will soon expand their powers to track our every move.
00:28:52.140If we say the wrong things on social media, donate to the wrong causes, buy firearms, or even vote MAGA,
00:28:59.020the government may be able to shut us out of our bank accounts.
00:29:02.260I can't say for sure if this will happen, but it's an interesting and dire warning.
00:29:08.480Fortunately, Jim Rickards, an American patriot and friend of mine,
00:29:11.460has made it his mission to educate us on what he believes is coming
00:29:15.200and how to protect yourself from the possibility of programmable money.
00:29:20.940Watch Jim's warning video now before it's censored like I've been in the past.
00:30:51.800Well, Steve, I've been very concerned that I, as you know, predicted the red wave, the trifecta.
00:30:59.340And I've been very concerned that the bond market would explode on the upside, which it has been doing, by the way, since Jerome Powell's inappropriate 50 basis point rate cut at the Fed meeting in September.
00:31:16.080So we'd already moved 70 basis points.
00:31:19.040And yesterday, the bond market had the biggest move, the upward interest rates going up that it had since 2020.
00:31:27.340So, unfortunately, my prediction was correct.
00:31:31.940And a lot of people mistakenly think that Donald Trump, led by this narrative in the mainstream media, a lot of people mistakenly think that Donald Trump's policies are going to be inflationary.
00:31:44.840Mike Bloomberg, you know, the head globalist in chief, has an editorial in publication he owns today saying, oh, Donald Trump's back for more.
00:32:57.700I want to make sure we set this in perspective, because we still don't technically have it.
00:33:02.040But what they're trying to make an argument, either bond vigilantes or whatever, is that Trump's – when you look at Trump's – let me step back a second for the audience.
00:33:13.920What Scott Besson has come on this show and said for the last couple of years is the following, that we have given what the established order on Wall Street and the political class with this thing called modern monetary theory, where you can just have these massive deficits and keep printing money forever.
00:33:34.700But eventually, deficits, which never had a big political traction, gets into this – gets into the deficits, get to debt, and the way you finance it, particularly the short term, that's where this inflation gets embedded, and that's where the American people get crushed and never turn around.
00:33:49.000And what Scott Besson has been warning, Scott Besson has been saying, hey, if Trump does not get back in, this is your last chance to actually have a supply side or a Reagan type or a growth policy that we can grow our way out of here eventually.
00:34:24.260And these are going to be – hang on.
00:34:26.620Deregulation, yes, the deconstruction of the administrative state, the deregulation part of it, to unlock the animal spirits and the entrepreneurial spirits.
00:34:33.600Because remember, the MAGA movement, we're both populist nationalists, but it's the – we're the entrepreneurs also.
00:35:04.620Well, look, I just gave the facts, and the facts are easy because, to use a favorite term of the progressive left, we have a lived experience.
00:35:14.820We have the lived experience of Donald Trump 1.0 from 2016 to 2020.
00:36:04.380And now I am worried that they have taken the economy to such a bad place and getting ready for the election, they may try to spike the cannon on the way out the door.
00:36:16.960Because one of the things that would surely – the cripple or the cutback, the very ambitious programs that President Trump has for the first 100 days, for the first year, for the four years would be an economic problem.
00:36:35.680So I actually think that they are going to use the economy this time to slow down the America First movement.
00:36:43.500Trump is – we're going to get more into it in the next couple of days.
00:36:47.820Trump is stepping into a firestorm created by them.
00:36:54.000Remember, the theory of modern monetary theory is deficits don't matter.
00:36:57.300And, hey, if they ever become a problem, we just raise taxes a couple hundred percent and you pay – it's all nonsense.
00:37:05.160It was a dangerous, stupid theory that – and we used America as the experiment.
00:37:10.480And now we're in it – President Trump is walking into a situation.
00:37:15.560The ticking time bomb on our national security is not Ukraine and not the Middle East and not even my beloved let's-take-them-down Chinese Communist Party around Taiwan.
00:37:25.500The ticking time bomb on the national security of the United States is debt that's adding a trillion dollars of debt every 100 days.
00:37:31.840And now the interest rates are over – we're paying over a trillion dollars every year in interest.
00:37:35.300That's the ticking time bomb, and it's ticking loud and fast.
00:37:38.940So everything Besant and Warsh and Larry Kudlow and everybody's trying to work together and Navarro and the whole team with President Trump, a businessman and a financier, is to work in this.
00:37:51.460I know you've got to bounce, but your terms spike the cannon before they leave.
00:37:59.940What does Scott Besant mean when you use that quite explosive phrase, sir?
00:38:07.420Well, so, Steve, Janet Yellen, who I think is going to go down as the worst Treasury Secretary in modern history, has run an emerging-market-style election economy.
00:38:22.560She has – we've run a 7 percent budget deficit to GDP, the largest deficit when there wasn't a recession and not a war.
00:38:33.060We have never done that before, and it is just pure spending.
00:38:36.860They tried to spin their way to a victory like they do in Argentina, like they do in Turkey.
00:38:42.860And by creating, they have inflated an asset bubble in housing and in the stock market, but only the top 20 percent benefit from that.
00:38:57.500So you've got an asset bubble in housing and stocks, 20 percent – a 7 percent deficit to GDP.
00:39:06.820And then just like they do before an election in Turkey, she moved all the borrowing to the front end of the curve to keep interest rates down.
00:39:15.200And now that debt is going to have to be turned out.
00:39:44.340One-third of the debt's got to be refinanced every year.
00:39:46.260They're just doing it short term in bills and notes in 90s, right?
00:39:50.480Because they don't want to have the guts to actually go out and determine it out long term,
00:39:54.000which you should do as like a major country, the most powerful economy in the world, the largest, most powerful nation in the post-industrial world, Scott Besson.
00:40:25.860And that's why Tuesday night was a great night because ordinary American people, the entrepreneur class, and patriots pushed back against it and said,
00:40:35.780like, it's our country and we're going to fix this.
00:40:38.760And I am confident that President Trump is going to have a great four years.
00:40:42.520He gave a wonderful acceptance speech.
00:40:48.820And I think once we can get over this hump and not let them spike the cannon, then we could be in the Trump golden age for the next four years.
00:41:01.860Scott, social media, how do people get to you?
00:41:20.180And I know that I think the country respects that you're part of the financial economic team with the other guys that people know maybe a little bit more of to help President Trump think through these issues.
00:49:49.980America, it's a country with borders and land and people in a civic society that underpins this, the little generals of the civic society, as Edmund Burke said it.
00:50:07.620The Kiwanis Club and the bowling league and the church softball league and little league and, you know, the Irish dancing, everything that makes up community.
00:50:17.120Your institutions, by the way, which had middle class working class, people got into not just elites, but they became part of the credential class, the enforcement mechanism for the oligarchs.
00:50:33.240Look in the mirror and understand what you've dedicated your life to.
00:50:38.080The enslavement of your fellow citizens.
00:50:41.240One of the four beasts saying, come and see.
00:50:48.060And the little guy, you didn't listen to him in 16 and Trump was a fascist and a dictator.
00:50:55.440All this, an anti-democratic, all her democratic, and you can't, you know, the popular vote because the electoral college is racist and fascist and xenophobic and blah, blah, blah, blah, blah, blah, blah.
00:51:02.540We're going to blow you out in the popular vote.
00:51:05.020The working class, black men, Hispanic families, Hispanic men, the Arab American men in Michigan, the Somalians in Minneapolis, white working class, Scotch Irish, Italians, Hispanics from the Rio Grande Valley.
00:51:27.500Alex, what they did on Tuesday is give you the middle finger and say, suck on this.
00:51:38.160And this guy named Trump, who for the last four years you've tried to destroy, comes across to us as a warrior, comes across to us as a gladiator, comes across us as a leader.
00:51:53.800Because why is the man trying to destroy him?
00:51:59.460Like you've destroyed our communities and you've destroyed our families and you've destroyed our jobs and you've destroyed our ability to stand on our own two feet without the government and say, yes, this is mine.
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