Stephen K. Bannon is back in the War Room, and he's here to talk about the latest in the Korean crisis, and how the Chinese Communist Party is using their own people as political leverage to exert control over the United States.
00:07:24.000And that's why yields on Chinese debt have absolutely collapsed.
00:07:28.000We actually saw the exact same thing here during COVID, despite the fact that the government was, again,
00:07:34.000spending trillions of dollars it didn't have.
00:07:36.000Yields on treasuries fell because the Fed essentially pledged to buy all of that debt.
00:07:42.000We also saw the exact same thing at the outbreak of World War I in Great Britain when they held, they pretended to hold, really,
00:07:51.000these bond rallies where they would get people to buy the debt of the British government.
00:07:56.000And that was supposed to be a sign of people's confidence in the British pound and in the British government,
00:08:03.000the fact that the yields on that debt were falling.
00:08:06.000Except it turned out that 100 years later, documents were finally released showing that the Bank of England was the chief purchaser of all of that government debt.
00:08:16.000In other words, there was no confidence in the pound.
00:08:19.000There was no confidence in the British government.
00:08:21.000And it was simply the Bank of England, again, buying all of that debt.
00:08:26.000So we're seeing the exact same thing today in China.
00:08:29.000That's why the yields on Chinese debt have absolutely collapsed.
00:08:33.000It's not because people all of a sudden have confidence in the Chinese regime.
00:08:49.000The problem here is that this devaluation of the Chinese Yuan, the renminbi,
00:08:54.000is going to give their exporters another big advantage over American domestic producers because it's going to affect the relative value of those currencies.
00:09:05.000In other words, it will make it look like Chinese goods are even cheaper than they already are.
00:09:10.000So one of the things that the Chinese Communist Party aims to achieve right now in all of these monetary maneuvers is, again, to further rob the American people of our ability to compete with them on the world stage.
00:09:23.000And this is something that was going on back during the first Trump administration.
00:09:28.000The previous Treasury Secretary, Mnuchin, was supposed to be all over it.
00:09:33.000He only was for a little bit and then kind of gave up with policing the currency manipulations by the Chinese Communist Party.
00:09:41.000And I think Scott Besson is going to do a much better job than Steve Mnuchin did of really staying on top, again, of all the monetary manipulations out of the Chinese Communist Party.
00:09:51.000And we're going to have to not only stay on top of it, but we're going to have to punish these bad actors as they try to manipulate currency markets and give their exporters an unfair advantage over our domestic producers.
00:10:03.000This is about protecting American industry and protecting American jobs and therefore American people.
00:10:10.000E.J., are they – or Dr. Antony – are they doing this to front load and get ahead of – they know President Trump is going to come in with tariffs.
00:10:23.000They understand he's going to renegotiate these trade deals.
00:10:26.000Are they trying to do this to get ahead of it to make sure that they're even – not even more competitive, but they're basically loading up the debt to undercut prices?
00:10:36.000So this is where their state capitalism comes in.
00:10:39.000Is this to get ahead of what they know President Trump with Navarro and Besson are going to go?
00:10:48.000It's very similar to when retailers will jack up their prices right before Black Friday and then they have a so-called Black Friday sale where the prices are now 25 percent off.
00:11:00.000OK, but you just raised the prices 25 percent the week or the month before.
00:11:06.000The Chinese are trying – the Chinese Communist Party is trying to do the same thing here.
00:11:11.000So they're essentially going to make their exports even more artificially cheap than they already are so that when the currently proposed tariffs get actually put into place, it essentially just resets the chessboard so that they're hoping that things will be right back to where they were a month or two ago.
00:11:31.000Again, this is where I'm very, very hopeful that Trump, that Besson, that Navarro will be all over this.
00:11:38.000And one of the key ways I think that we can keep an eye on this, Steve, is something that Judy Shelton highlighted not that long ago in a recent book of hers where she talked about the currency manipulations that countries like China are engaged in.
00:11:52.000And a good way to monitor that would be to look at how much gold does the dollar buy versus how much gold does the renminbi buy.
00:12:01.000And as you see the renminbi falling behind gold faster than the U.S. dollar, that is a good numeraire.
00:12:07.000In other words, it's a good objective standard by which you can measure both currencies to see which is devaluing faster.
00:12:14.000Now, that's not to say that the dollar has been great against gold.
00:12:18.000That's one of the reasons why so many people, including myself, have been recommending that people buy gold as an inflation hedge.
00:12:25.000However, the Chinese renminbi has been even worse, and it's a sign that they are trying to devalue their currency even faster than we have devalued our currency here.
00:12:35.000And again, the aim there is to give themselves an unfair advantage in global markets.
00:12:41.000And so you can very easily then tie a kind of tariff or a non-tariff barrier to the relative gold price of different currencies.
00:12:51.000In other words, if you, Chinese Communist Party, are going to devalue your currency relative to gold, relative to the U.S. dollar, then we are going to impose a tax on everything you send to this country that makes up for the difference.
00:13:06.000If you're going to allow your currency to fall to lose, let's say, half of its value, then we're going to put a hundred percent tax on that in order to, again, reset the playing field and try to put us on a level playing field.
00:13:20.000And again, all of this goes back to this idea that they are going to try to make up for the inherent failures within their system by siphoning wealth off of the American middle class, as you articulated, Steve.
00:13:35.000E.J., can you hang on for one second? I just want to hold you for a few minutes after this break.
00:13:41.600Beggar thy neighbor in military might.
00:13:47.000Frank Gaffney and the team over there are showing that they're having a bigger military buildup for dollars than Hitler had starting in the mid-1930s.
00:13:56.740And now you've got the beggar thy neighbor monetary policies and the trade policies.
00:14:00.980When this all fails, and it will fail for the Chinese Communist Party, their pivot to keep the folks at bay is to point to the foreign devils and say, we've got to go to war.
00:14:13.260That's why what's happening in South Korea.
00:14:15.380So South Korea to the Third World War is bloody Kansas to the Civil War.
00:16:14.100As sure as the turning of the earth is going to get a lot uglier, folks, you know we've given you a heads up on everything, but this one is going to quite rapidly spin out control.
00:16:28.560Jace Medical, Jace Medical is back with us.
00:16:30.580You know, they're the guys, Dr. Sean and the team, that saw the supply chain problems with your basic core medicines.
00:16:38.040That problem has not, nothing's been done.
00:17:25.540They've got slave labor that's tired of it.
00:17:27.380When they had the opportunity, they didn't build the consumer economy, although I thought that was a reach to begin with.
00:17:34.680When this collapses, and they're not the prime reserve currency, they try to do the thing with making the RMB in a basket, some sort of gold backing.
00:17:41.760They've done deals, output deals with the Saudis, with the Persians for oil.
00:17:46.540They're doing the same thing with the Russians, but it's clearly not going to work.
00:17:50.220It just can't work because they're not the prime reserve currency.
00:17:52.540People don't have to take the yuan like they've got to take the dollar, right?
00:17:56.800So as this collapses, is this going to be a chain reaction?
00:18:01.000Is this just China, or do you see this virus throughout the world, this financial virus throughout the world?
00:18:05.880Steve, it very much is a virus and very much is throughout the world.
00:18:12.180And one of the really scary things is that we are essentially seeing countries try to move away from the dollar as a way to shield themselves from getting any kind of punishment, I guess, from the United States.
00:18:25.640Before Russia invaded any of the territories around its borders, what did it do?
00:18:32.460It got rid of all its holdings of U.S. debt, and it also started buying gold.
00:18:37.200It has continued that gold-buying spree, and we're seeing the exact same thing out of the central bank of China.
00:18:43.500Now, China is also selling off its holdings of U.S. debt.
00:18:47.900They used to be the biggest purchaser and the biggest holder.
00:18:51.680In fact, now they're a net seller of U.S. debt.
00:18:54.460You know, that's also going to create some difficulties in this year ahead for the Trump administration as they try to refinance so much existing debt.
00:19:04.120There are so many countries around the world selling that debt.
00:19:06.800But still, the fact remains that you have all of these different bad actors around the world who are getting off the dollar and who are stockpiling gold.
00:19:35.380This is what Biden did that we strongly recommend against.
00:19:38.760And I'm a huge believer in economic warfare.
00:19:40.700I think you can cut the defense budget if you're smart.
00:19:44.900But the economic warfare has got to go to the capital markets part of all that.
00:19:48.120But what Biden did, remember, what the Russians did have in U.S. banks that was dollar-denominated, Yellen and the Biden regime, they confiscated.
00:20:18.900But that buying of gold by the central banks throughout the world should not be looked at as a total positive, folks.
00:20:28.100I understand it helps gold and helps your holdings.
00:20:29.980But, hey, in the macro of it is, it shows you that key players from the SWIFT system where we monitor everything and can stop their transfer of financial assets to the ability, the U.S. government, for the first time, how do you think they did the last $50 billion for Ukraine?
00:20:47.540We essentially stole the Russian people's money.
00:20:50.000I hate to be so blunt about it, but we stole their money.
00:20:54.520These people throughout the world are smart, and they're tough.
00:20:58.320This is why we are hurtling towards something, and here's why it's more dangerous than the 1930s, because the scale of the weaponry, you have chemical, look at fentanyl.
00:21:18.340The lethality of these armies is an order of 10 of what it was in World War II.
00:21:24.180The 20th century is the most barbaric, the short 20th century, from August of 1914 to the fall of Tiananmen Square and the fall of the Berlin Wall in June to November of 1989.
00:21:36.460That was almost a continuous war, either hot or cold, with the cold still having, the hot tap was still running.
00:21:44.180We killed, murdered, slaughtered, I don't know, 500 million people in wars and in suppressions like the Chinese Communist Party.
00:21:53.780They will look at that as the second dark age.
00:21:57.780The barbarism of the 20th century is what comes out of how many people were murdered and slaughtered and died in concentration camps, were gassed or starved.
00:22:05.240Look at the Holocaust and what the Nazis did in Poland things.
00:22:10.820Look at what happened in Ukraine by Stalin and the Bolsheviks in the 1930s.
00:22:16.300You're basically living in Kansas and they starve you to death.
00:22:19.740Look what happened, the barbarity and the cannibalism that came up in the starving of people and the great leap forward, the collectivization of the farms.
00:23:20.540Because the Chinese Communist Party, they've killed, they've murdered 200 million Chinese citizens and butchered another 400 million babies.
00:24:02.600You see what's underneath the surface in China.
00:24:04.720Because they have real rage at the cultural revolution, the forced collectivizations, and the hunger, and the barbarity of the Chinese Communist Party, the most brutal dictatorship in world history, what they've done to these people.
00:24:17.380And to keep them, they're going to turn and say, the foreign devils, the foreign devils brought this on us, and we've got to take Taiwan first, and it's going to be, we're going to take East Asia, we're starting South Korea.
00:24:26.460It's going to explode like you've never seen anything in your life.
00:24:40.340The handle there is at real E.J. and Tony.
00:24:43.180And Steve, real quick, one of the other things we're going to be keeping an eye out for is to see if the deep state here is going to try to do to Donald Trump and Scott Bessent what they did to Liz Truss over in the U.K.,
00:24:54.240where as soon as their economic policies were unveiled, they immediately caused disruptions in the gilt markets, what would be the treasury markets here.
00:25:02.120Don't underestimate the deep state ability to try to do that here, and that could also be part of what's going on behind the recent rise in treasury yields.
00:25:12.340Yeah, we're going to get into the bond market tomorrow.
00:25:14.460I'll talk to you tonight, and we'll come back to you.
00:25:30.520The lords of easy money are not going to back off control of the earth just because we say, hey, here's the plan, and we want to exceed the plan.
00:25:40.820E.J. and Tony, we'll go to your social media.
00:26:06.160But you've got these amazing articles coming up right now, and you're the guy that's been warning us about us for years.
00:26:10.740It's one of the reasons President Trump's in the White House is you're reporting and CIS is reporting, particularly this audience, to empower them.
00:26:19.500You are saying, guys, I know we got the border.
00:26:30.540Well, for one reason, Tom Homan went there a few weeks ago and was not welcomed.
00:26:39.300The mayor of Chicago basically stood his ground and said, we are not giving up any immigrants to you or ICE.
00:26:47.160We're going to bite you tooth and nail all the way through.
00:26:50.640And Homan's response was, hey, we're coming to Chicago on day one.
00:26:56.360We are going to take action due to deportation.
00:27:02.240So it looks like Chicago is kind of forming a center, a center of conflict between the Trump administration and these uber blue sanctuary cities that don't want to give up.
00:27:16.560Even their criminal aliens, which is something that's unbelievable.
00:27:22.380Like, what elected leader anywhere would want to inflict criminal aliens on their occupation?
00:27:29.920But they're planning to do that in Chicago.
00:29:39.860It's the trigger being pulled on the EEOs.
00:29:41.720The EEOs are being worked on right now.
00:29:43.240Office of Legal Counsel giving the fairness opinions.
00:29:45.300So this train is leaving the station, baby.
00:29:47.940They haven't done the two reconciliations, and they're not going to have the immigration border deportation legislation ready to go.
00:29:56.160So I think by the time the president finishes with the Senate today, because Thune and Graham are on our side and others, and he finishes with the House Freedom Caucus and others at Mar-a-Lago on Friday, then we'll be in consensus.
00:30:09.080It's got to be two, and you've got to get out there.
00:30:10.620That being said, the executive orders are going.
00:30:13.940Homan and Miller are going to work, and Todd Bensman has nailed it.
00:30:51.300They're telling me that Merrick Garland has decided on his own to give it to the committee for a camera review.
00:30:58.460Can you explain to me what's going on?
00:30:59.700And how could that possibly be legal, sir?
00:31:02.240Yeah, Jack Smith brought two bogus cases against President Trump.
00:31:07.080There is the case in D.C. with D.C. Obama Judge Tanya Shutkin where Jack Smith charged President Trump for the non-crime of objecting to a presidential election,
00:31:19.000which is allowed by the Electoral Count Act of 1887 and the First Amendment.
00:31:23.360The second case that Jack Smith brought was down in Florida for the non-crime of a former president having his presidential records in the office of former president,
00:31:33.480which is allowed under the Presidential Records Act.
00:31:36.660Jack Smith charged Trump with espionage for that, right?
00:31:39.900And so the January 6th case in D.C. has been completely thrown out against President Trump, and he was the only defendant.
00:31:50.320Down in Florida, the case was thrown out against Trump because he's the president-elect, but there are two other co-defendants.
00:31:58.380And here's what they're trying to do with this special counsel report.
00:32:02.420It is a one-sided political drive-by shooting, a last-ditch effort by Merrick Garland and Joe Biden and their henchman, Jack Smith,
00:32:15.500to do this smear of President Trump with this one-sided report.
00:32:20.060If they issue this report, it's President Trump can't respond to it in a courtroom.
00:32:35.980And with the case in D.C., it looks like Jack Smith is going to release that report with the Chutkin case.
00:32:50.180And then with the Florida case, Jack Smith, it looks like he says he's not going to release the report publicly because there are two other co-defendants,
00:33:02.860but he's going to let members of Congress, Merrick Garland and Jack Smith are going to have members of Congress do what they call an in-camera review,
00:33:33.140You would think as a lawyer and as an officer of the court like Merrick Garland is, he would want to be very careful because not only does he have his duties in the Justice Department,
00:33:46.400including the Office of Professional Responsibility, he also has obligations to the bars to which he is admitted.
00:33:54.060And it is unethical for lawyers to put out one-sided reports like this when there aren't charges pending.
00:34:02.860But this is – we're asking if these guys are going to get it and they're going to leak all the – they're going to leak all the – they're going to take the most stuff that Smith has slanted in the worst way,
00:34:16.080and they're going to leak that to the media.
00:34:17.200So you're just going to get the New York Times and MSNBC.
00:34:19.220They're going to have a mantra the week before President Trump is – it takes the – is inaugurated to try to smear President Trump.
00:35:19.000Keep throwing your peas on the wall because this is going to come back and bite you in the ass.
00:35:23.600The Mershon situation, President Trump, Kirby, lost at the appeals court.
00:35:31.540I guess he can go to the New York Supreme Court.
00:35:33.160I don't know if that – can he go to federal court?
00:35:35.480How do you stop Mershon from doing what the MSNBC is sitting there slobbering all over themselves to try to get President Trump a sentence here?
00:35:47.800President Trump filed an emergency petition with the Supreme Court of the United States this morning.
00:35:55.660The Supreme Court gave Judge Mershon and Alvin Bragg these Soros puppets until I think it was 9 a.m. tomorrow to respond.
00:36:05.860This is on the Supreme Court's emergency docket.
00:36:10.340And this should be a 9 to nothing decision.
00:36:12.680If the Supreme Court has any integrity whatsoever, if they're not just three partisan hacks and six Republican weaklings, this should be a 9 to nothing decision.
00:36:26.200The Supreme Court should stop this because guess what?
00:36:30.020We don't live in a country where local, highly partisan prosecutors and judges can sentence a president-elect and throw him in prison potentially.
00:36:43.760Even though one Mershon says he's probably not going to do that, he left that as a possibility.
00:36:48.980We don't live in a third-world Marxist hellhole where this can happen because guess what?
00:36:55.400Even if Mershon does not throw Trump in prison this time, what's to say that it doesn't happen next time after this precedent is set that this local, conflicted, partisan, dangerous, destructive judge, corrupt Judge Juan Mershon or any other judge can tell a president-elect,
00:37:15.360you have to come into a sentencing hearing 10 days before you're inaugurated on these bogus charges that were brought against you.
00:37:24.260And if you're not a good boy, if you're not a good president-elect, I'll throw you in prison.
00:37:29.460We don't live in a third-world Marxist hellhole.
00:37:35.040I know that's where Juan Mershon came from, but that's not America.
00:37:38.880So just process-wise, I want to make sure the audience has a critical path here.
00:37:45.980President Trump filed today, Boris and the team.
00:37:49.300They've given him until 9 a.m. tomorrow for Tish James, the geniuses at the New York, you know, Alvin Bragg and Tish James and company, right, to respond 9 a.m.
00:38:01.600Mershon, I think it's 10 a.m. on Friday morning, so tomorrow's Thursday.
00:38:08.560Will the Supreme Court put a stay on that while they review this, or is this a decision they can make?
00:38:14.380It seemed to me they got to—this is a little complicated in the fact that you've got state law, all of that.
00:38:19.580Will they put a stay on this so Mershon's put on hold until they render a decision, or do you think this is one they just turn around and say,
00:38:27.780I think that the Supreme Court should order an administrative stay and tell him to stop all proceedings on this until this is resolved on the merits by the Supreme Court of the United States.
00:38:46.700I don't expect the three partisan hens on the Supreme Court to go along with this.
00:38:52.200Let's just hope that the Chief Justice and Justice Amy Coney Barrett and Justice Kavanaugh, let's just hope that they find and keep their backbones on this.
00:39:04.020This is a very simple ruling because think about the precedent that will be set here,
00:39:09.920that a local partisan prosecutor and judge can sentence the president-elect 10 days before his inauguration for non-crimes, right, and put him in prison.
00:40:54.300Because I imagine, if you look at the order of succession that we went through on Saturday, they came out,
00:40:59.900the order of succession for the attorney general, the number two guy is, wait for it,
00:41:03.840the U.S. attorney in Arizona, who's an open borders guy, right?
00:41:08.620So he's going to sit there and try to thwart from the Justice Department itself.
00:41:12.020Tell me how we're going to get around this madness that's going to take place on the afternoon of the 20th of January, sir.
00:41:18.220I think Tom Homan, who I think is a hero, has already made this very clear to these Democrat mayors and governors
00:41:26.260who go on TV and pretend like they're going to obstruct President Trump's immigration policy and agenda.
00:41:32.540You're going to commit a federal crime if you do that.
00:41:35.340So this Chicago mayor is going to end up in federal prison if he does this,
00:41:40.560because it is illegal to aid and abet illegal immigration.
00:41:45.480It is illegal to obstruct the federal government in carrying out its statutory duties to deport these illegal immigrants.
00:41:55.520There are very serious federal felonies on the books.
00:41:59.620In addition to that, there's conspiracy.
00:42:02.380If they're working with anyone else to carry out these felonies, I would say this.
00:42:08.300It'd be a great way to get rid of these mayors and these Democrat hellholes is just charge them with federal felonies for aiding and abetting and obstructing and conspiring.
00:42:34.160I want to talk about the situation in North Carolina at the Supreme Court.
00:42:38.880MSNBC has been a meltdown over it, and one of the reasons it's so vitally important.
00:42:43.240Folks, I know all the work that you do, and for the congressmen, the senators, and for the president,
00:42:48.300the state legislatures are vitally important, and these elections for judges, judges on the Supreme Court of these states, is vitally important.
00:45:43.880Of people, they're going to be on the outside supporting President Trump because he's going to need it because they're going to try to drop the anvil on him.
00:46:22.460Because, folks, when we say these groups are standing on the outside or these individuals, we're all going to have groups, the War Room Posse and others, that are assisting to drive the Trump agenda going forward.
00:46:34.800Because the fight now is going to get more and more intense and nastier and nastier.
00:47:25.900That's why I started the Article III project, because I was the chief counsel for nominations on the Senate Judiciary Committee.
00:47:32.900And I saw during the Kavanaugh confirmation that there is a major void on the right people like you and I and others who have that insider experience but have an outsider mindset and who are fighting Irish.
00:48:11.160This is where we got put on the map is during the Ketanji Brown-Jackson confirmation.
00:48:16.300When I came on here and had the war room posse light up the Senate switchboard and call both of their home state senators, it melted down the Senate.
00:48:26.020And that – it shows you how effective we are with the Article III project, teaming up with the war room posse.
00:48:49.060And three days later, we went from dead on arrival to when can they start.
00:48:54.720Pete Hegseth was 45 minutes away from being removed, dropped, and somebody else coming in.
00:49:00.360And when people got focused on this, Pete Hegseth, I don't – I'm not saying he's going to glide through, but Pete Hegseth is going to be Secretary of Defense, and we need Pete Hegseth.
00:49:36.560They gave me a great appreciation award yesterday.
00:49:40.880The radical attorney general is trying to shut you down, all your charities in Minnesota.
00:49:47.260So sell me a pillow, and let me get some sheets from you, brother.
00:49:52.500We got a bigger surprise, Steve, yesterday with the Lindell Recovery Network.
00:49:57.340It was down in Texas, and we're working with all the prisons, with MyPillow and the Lindell Recovery Network.
00:50:05.200And yes, Keith Ellison is attacking us.
00:50:07.680But one of the products we were coming out that was going to be supporting the Lindell Recovery Network, I've decided to offer it to the War Room Posse through MyPillow.
00:53:39.740That's why we created Sacred Human, really trying to fill this gap of quality supplements.
00:54:05.680And, of course, the beef liver being our flagship products.
00:54:09.540For those who don't know, beef liver is loaded with highly bioavailable ingredients such as vitamin A, B12, zinc, CoQ10, etc.
00:54:19.080And because it is 100% grass-fed and natural, your body is able to absorb these nutrients far better than taking any other synthetic multivitamin or any other synthetic vitamin in general.
00:54:30.980So, we have some other amazing products, but if you'd like to check us out, you can go to sacredhumanhealth.com and cheers to your health.