Bannon's War Room - Episode 4276： Disaster In Ukraine

00:00:00.000 Toledo. Look at this trend line here. U.S. support for Ukraine is too much. Back when the war began, back in February of 2022, it was just 7 percent. Up like a rocket ship. My goodness. Up now in February of 2025 to 41 percent. And the clear majority of Republicans, and of course Republicans are in charge of the U.S. government now, 62 percent of Republicans say that the U.S. support for Ukraine is too much. What a difference from just three years ago. I can remember, John, all those backyards in the United States with the

00:00:29.980 Ukrainian flags, far fewer of them today, as Americans' opinions on Ukraine have changed dramatically. What about opinions of the Ukrainian president? Right. You know, obviously, if you would expect changes amongst the public on feelings towards Ukraine, feelings towards Zelensky have changed also dramatically. Look at this. Confident Zelensky will do the right thing when it comes to world affairs. Back in 2022, it was the clear majority. 72 percent through the floor, through the floor by 2024.

00:00:58.920 Just 48 percent of Americans say that they're confident that Zelensky will do the right thing when it comes to world affairs. And GOP confidence has also plummeted dramatically. Now the clear majority of Republicans are not confident, not confident that Zelensky will do the right thing when it comes to world affairs. Really a real trend line, ones you rarely see in the American public when it comes to Ukraine and Zelensky. Confidence in both going down through the ground.

00:01:24.120 Look, some allies of President Trump have targeted Zelensky with harsh criticism over the last few years. And it could be that that's having some impact here.

00:01:31.980 Absolutely. The Republican establishment, the Republican electorate has moved as the Republican establishment and Republican leaders have moved on.

00:01:38.800 All right. Let's talk about the idea of a peace deal. And again, the way you ask this matters. But go ahead.

00:01:44.060 The way you ask it is important. So we can talk about this a little bit. So the poll question essentially is, do you support a Russia-Ukraine negotiated peace deal?

00:01:51.980 The vast majority of Americans, this is what they want. 78% say that they support this idea versus just 16% opposed. Of course, as we were talking about, does this question actually get at what's going on right now?

00:02:05.260 I think you would say that it probably does not necessarily get what's going on right now.

00:02:09.400 No. The question asked, do you support a Russia-Ukraine negotiated peace deal? Ukraine's not there at the negotiations in Saudi Arabia this week. So the people were not asked this.

00:02:19.220 And I do think in general, if you ask anyone in any poll, do you support peace? Peace tends to rate pretty highly.

00:02:26.740 Peace tends to win. You rarely get 78% of the country agreeing on anything.

00:02:30.540 They do agree on the idea of a negotiated peace deal between Russia and Ukraine. Whether the majority would agree on a Russia peace deal with Ukraine where Ukraine has nothing to do with it, that might be a different question.

00:02:41.520 Hard to know. Harriet, thank you.

00:02:45.520 This is the primal scream of a dying regime.

00:02:50.400 Pray for our enemies.

00:02:52.360 Because we're going medieval on these people.

00:02:54.280 Here's another time I got a free shot at all these networks lying about the people. The people have had a belly full of it.

00:03:01.900 I know you don't like hearing that. I know you try to do everything in the world to stop that, but you're not going to stop it. It's going to happen.

00:03:07.220 And where do people like that go to share the big line?

00:03:10.620 Mega media.

00:03:11.960 I wish in my soul, I wish that any of these people had a conscience.

00:03:17.360 Ask yourself, what is my task and what is my purpose?

00:03:20.520 If that answer is to save my country, this country will be saved.

00:03:27.440 War Room. Here's your host, Stephen K. Bannon.

00:03:35.940 Monday, 17 February, Year of the Lord 2025.

00:03:38.980 It's President's Day.

00:03:41.400 A day that we remember all the presidents, but particularly General Washington and Abraham Lincoln.

00:03:47.840 That's why it's so fascinating to talk about President Trump on a day like today, because he's the third in the triumvirate.

00:03:55.880 Ben Harnwell joins us.

00:03:57.300 Ben, we have to take a little satisfaction in those numbers from Harry Enten, because the War Room Posse and the War Room, we have worked now for three years to make sure the American people had all the facts.

00:04:08.360 And once given the facts, they come to their own conclusion.

00:04:11.780 The conclusion is we got to get the hell out of Ukraine. 1.00

00:04:15.880 We should have never been there.

00:04:17.020 This has been a disaster.

00:04:18.820 We just want to go.

00:04:20.240 Of course, the European folks in Europe are about to come upon that because they're about to have to pay the full freight.

00:04:25.900 They're going to be given an option, which we're going to talk about here momentarily.

00:04:29.760 So the only thing, Ben, I question about Harry Enten is he goes, oh, as the Republican establishment has come that way, the Republican establishment is not there.

00:04:39.440 There's video over the weekend, as you remember, Ben, with a love fest of Zelensky walking in a room and Roger Wicker and White House.

00:04:47.920 It was a bipartisan of the warmongers.

00:04:51.960 And White House said, Sheldon Whitehouse was saying, you're among friends.

00:04:55.940 So it's not just the Republican establishment, it's the it's the warmonger established order of the United States that's still pushing this against just, as they said, a stunning transformation in what the American people think about this entire war.

00:05:12.800 Ben Harnwell, Steve, good evening to you. 0.88

00:05:16.140 I think Lindsey Graham and Joni Ernst might have been in the room, along with the Green Goblin, this weekend and two absolutely useless senators.

00:05:29.700 So in the morning show today, you asked me the question about am I surprised by Europe's combat readiness so soon?

00:05:41.060 And I pivoted the question. I said, look, let's just rephrase this in terms of am I surprised by their ability to be performative at such short notice?

00:05:49.760 And I said I'm not remotely surprised. Well, since those words were uttered on this show, Steve,

00:05:56.220 we now have the confirmation of just how sadly performative the meeting in Paris is today with all the various heads of government from Europe,

00:06:06.720 along with von der Leyen. Let's go straight to British Prime Minister Sarkir Starmer.

00:06:13.620 This is what he says. And Steve, before I read the quote, I just want the war in posse to bear in mind.

00:06:18.800 This is exactly what this show said back in October, November, leaning on reportage from from Foreign Policy magazine,

00:06:32.000 which had said that the Biden administration was making assurances to the European capitals that if they stepped forward in their own names,

00:06:41.040 offering the security guarantees, it would be the US would come to their aid in the situation that Russia actually made an attack and support them.

00:06:51.180 Only one in the whole world, and I follow this extremely closely, that only foreign policy had mentioned that.

00:06:58.640 So this is what Kirsten Armer says today to his European colleagues.

00:07:03.480 Europe must play its role. And I'm prepared to consider committing British forces on the ground alongside others if there is a lasting peace agreement.

00:07:13.500 But there must be a US backstop because a US security guarantee is the only way to effectively deter Russia from attacking Ukraine again.

00:07:25.160 So there's the Brits, the wily Brits, basically saying that President Trump to the US, not so fast, come back here.

00:07:38.160 Because, of course, there's no money. As we mentioned on the morning show today, one of the facts that we realise that there's no money is that the European Union is Ursula von der Leyen.

00:07:46.720 Ursula von der Leyen, specifically, an elected president of the European Commission has said she's looking into manipulating the constitution, amending the constitution so that the EU can borrow money.

00:08:01.960 Borrow money. Put it down onto the next generations of European citizens in order to continue the fight in Ukraine. 0.98

00:08:08.940 Because if there's one thing these corrupt sociopathic overlords know, right down to the marrow in their bones, is that this hoax has not penetrated through to the European peoples.

00:08:23.820 And they do not want to be paying more taxes for a war that they see no just cause in fighting.

00:08:30.120 One example of this, Steve, and I have to say this, because it's absolutely astonishing, is the situation in Germany.

00:08:36.720 This is really a statement made by Olaf Scholz, the German Chancellor, remembering, of course, that there are federal elections coming up this Sunday on the 23rd of February, which he is projected to lose.

00:08:52.500 And he has said that the Germans have a very, obviously a very touchy past when it comes to inflationary deficit spending because of the rise of the Nazis in the 20s and 30s.

00:09:09.640 So it's hardwired into the German nature not to do this, not like the UK, the US are doing.

00:09:17.100 And it's in their constitution that the government can't borrow in any one year more than 0.35% of its annual GDP, which is a very low number by other standards.

00:09:30.880 That is, of course, because of the German memory of how hyperinflation, runaway hyperinflation led to necessarily, to some extent, to totalitarianism, to bring everything back under control.

00:09:44.860 So what Olaf Scholz has said is that in order to circumvent this, to get more money going for Ukraine, the next government, after the elections on Sunday, will probably need to declare a state of emergency.

00:10:04.260 Astonishing thing for him to say, Steve.

00:10:11.560 And, of course, they're saying that this is the regime, the international regime, saying that Donald Trump represents the great threat to norms, checks and balances.

00:10:21.860 And here is one of the leading figures of Europe, saying we need to declare a state of emergency in Germany in order to get the spending, the deficit spending high enough to fill the gap left by Americans.

00:10:36.660 Ben, I think these things are healthy.

00:10:42.000 I think it's healthy.

00:10:42.820 I think it's healthy.

00:10:44.660 They've finally come to the – it took shock treatment, but it took this past week with Pete Hegseth's speech, J.D.'s speech, Scott Besson having just tough discussions with these people about mental rights, others over there, and, of course, Posobiec and the War Room and others to let these guys know, hey, we've been talking about this forever.

00:11:07.180 However, we are not supplicants.

00:11:09.520 The United States are not supplicants coming to beg you to come.

00:11:13.200 We don't – we're going to cut the money off.

00:11:15.660 We're not going to put arms up.

00:11:16.920 It's one of the reasons Keith Kellogg's now on the plane to Riyadh.

00:11:20.400 There are no more troops.

00:11:21.520 There's no more money.

00:11:22.480 We're out.

00:11:23.040 We're done.

00:11:23.720 We're finished.

00:11:25.060 We're not going to do this anymore.

00:11:26.660 And now when they have to – I like the fact that he's calling emergency measures because the German people are going to go, what in the hell are you doing?

00:11:33.040 You're going to start borrowing now to put money into Ukraine?

00:11:36.220 I think it's great that Sir Kier is over there, Starmer, saying that, oh, I'm going to commit combat troops for security.

00:11:46.100 I want those people.

00:11:46.920 I want the Europeans to step up and then see what their people in their countries are going to say because the people in the country haven't had – haven't been hit with the economic reality of what it means to pay 5 percent of your GDP for defense.

00:12:01.600 They're paying under 2 percent.

00:12:03.220 They're basically getting a free ride off the United States.

00:12:05.360 So I believe this is healthy.

00:12:07.680 They are treating it as an emergency because it is an emergency.

00:12:11.520 They're reading it the right way.

00:12:12.640 If they had read it any other way, I would think, wow, we've got to tell them again.

00:12:15.560 We've been telling them now since the very first month when Theresa May came over with Boris Johnson, we told those guys and we told right after that, we told Merkel and her team.

00:12:29.600 I sat down with the national security advisor and gave it to him with both barrels.

00:12:32.980 Look, dude, we're going to be out.

00:12:35.520 You guys are going to have to step up to the plate here, and this is well before the invasion, that if they thought the Russians were such a threat, they got to kick up the spending.

00:12:44.280 They're not going to draft off us.

00:12:45.500 I think it's positive.

00:12:46.440 They're taking it as an emergency and looking for emergency measures.

00:12:49.880 Ben Harnwell.

00:12:50.460 Well, obviously, as someone who lives here in the European Union, I don't want to see myself living under martial law and military dictatorship in order for our crooked regimes across continent Europe to fight an enemy, Vladimir Putin, that they themselves, to some extent, created in manufacturing this war going back to 2014.

00:13:16.740 In fact, I only think I pay enough tax as it is.

00:13:20.340 I should pay less in tax.

00:13:21.880 I don't want to be paying more.

00:13:23.280 And as I said on the show in the morning, in the European stock markets, in London, in Berlin, in Italy, the various national sectors of defense have all had a bounce between like 4%, 5%, 9% in expectation that their arms industries are going to start gearing up.

00:13:44.380 I don't have a problem paying in tax.

00:13:45.980 I don't think anyone has a problem.

00:13:47.120 Not in Europe, not in the UK, not in America.

00:13:50.480 No one has a problem paying in tax when it comes to legitimate areas of national defense.

00:13:56.380 But there has never been explained, as you pointed out from day one, there has never been an explanation of what that national defense interest is, what the vital national interests are in fighting for the defense of a country that isn't even formally an ally.

00:14:10.740 Ben, it's very late in Rome.

00:14:14.500 We know you're tired.

00:14:16.780 We appreciate you staying up to break this news to us about the media this afternoon.

00:14:20.580 What's your social media?

00:14:23.980 We'll let you punch out. 0.84

00:14:27.240 What is it?

00:14:28.080 Thanks, Steve.

00:14:28.760 Get a social media platform of choice.

00:14:30.600 At Harnwell, which is my surname.

00:14:32.440 I have to quickly flag up that it's something that possibly you should be looking into, which is this.

00:14:38.480 The Telegraph has it.

00:14:39.360 I'll put the link on this video clip when it appears on Rumble.

00:14:42.900 Telegraph is reporting this leaked memo that we've only seen traces of in the last couple of days.

00:14:50.140 People need to see what the U.S. is trying to do with these layers.

00:14:54.420 Just go ahead and put it out.

00:14:56.780 We're going to take a short commercial break.

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00:18:07.560 I think that'll be quite interesting.

00:18:09.960 A lot of turbulence today.

00:18:11.140 A lot of turbulence.

00:18:12.120 One is in the courts.

00:18:13.140 So, you had one of your favorite judges.

00:18:15.220 When did federal courts start this?

00:18:17.520 Have they done this for a while, done the audio?

00:18:19.240 I know the Supreme Court does it.

00:18:20.500 Did the other federal courts also do it, Julie Kelly?

00:18:24.680 Julie, we're going to have to reboot because I can't, we can't hear you.

00:18:41.360 We'll get Julie Kelly back up. 0.99

00:18:42.920 Is that by phone?

00:18:43.820 Yeah.

00:18:44.060 Okay, we're going to have to get her to a better sell zone or get her back up because 1.00

00:18:48.540 there's a lot going on there.

00:18:50.400 Let's talk about my other favorite topic.

00:18:52.040 Okay, Ukraine, number one.

00:18:55.160 Multi-dimensional.

00:18:56.340 President Trump is trying to end the kinetic part of the Third World War, and he's doing 0.84

00:19:04.000 it with a vengeance.

00:19:06.140 The team, in fact, the Russian team, I think, just arrived to Riyadh, led by Lavrov.

00:19:13.560 He's an original gangster.

00:19:15.120 Pretty tough hombre.

00:19:17.220 Tough guy.

00:19:17.940 Been around forever.

00:19:19.820 He will be leading the team over there.

00:19:21.660 We have Rubio, we have Colonel Waltz, the National Security Advisor, and Steve Witkoff.

00:19:28.160 And Witkoff has kind of become the president's go-to guy.

00:19:32.020 Who is Steve Witkoff?

00:19:33.080 Early 60s, buddy of the president's, friend of his, colleague, plays golf, I don't know,

00:19:40.700 from the 80s, 90s, knows President Trump very, very, very well.

00:19:45.600 And he's got a great demeanor, a disposition.

00:19:51.580 He is a tough negotiator, but a nice guy, a good guy.

00:19:56.320 People like him.

00:19:58.220 He got the Gaza ceasefire done.

00:20:01.380 I wasn't crazy about all that, but he got it done.

00:20:04.300 It seems to have worked.

00:20:05.620 It's been a framework.

00:20:06.780 That was Witkoff, working with Qatar, and going and really making Bibi kind of heave to. 0.71

00:20:13.900 You're going to let me know when we get Julie back up. 0.99

00:20:16.700 We're trying to reboot her right now.

00:20:19.040 He's leading the delegation with Secretary of State Rubio, National Security Advisor.

00:20:24.180 Keith Kellogg didn't make the trip.

00:20:27.620 I think some of that is just a miscommunication or a misunderstanding.

00:20:34.480 They keep talking about combat troops.

00:20:36.040 He said the other day, and I love Keith, General Kellogg, but he said,

00:20:39.140 if Russia was to ever not live up to the agreement, we would send combat troops into Russia.

00:20:46.140 No, that's not going to happen, General Kellogg, in like a gazillion years.

00:20:50.740 We're not going to go to war directly with the Russian army and the Russian people.

00:20:54.440 Not going to happen.

00:20:55.400 They're our ally in World War II.

00:20:57.300 We broke them under the Bolsheviks in the Cold War. 0.97

00:21:00.640 They're not going to, over Ukraine and American soldiers, airmen, whatever, name it,

00:21:08.860 are not going to go into Russia over Ukraine.

00:21:10.900 Not going to happen.

00:21:12.180 Ukraine is for the Europeans or the two Slavic entities that are figured out.

00:21:17.280 And now we finally get the Europeans' attention.

00:21:19.660 That's why I think it's very positive what's happening in Europe today.

00:21:23.400 They finally, they didn't believe, it took a long time for them to get their attention.

00:21:28.240 They didn't believe President Trump, at first, one of the very first things we said,

00:21:31.100 that NATO's got to stand on its own.

00:21:33.360 We're an ally, but they've devolved into a protectorate, a vassal state,

00:21:40.800 and they still rip us off with the tariffs.

00:21:44.740 Remember yesterday, one of the German, senior German guys said,

00:21:47.300 hey, you know what, we should go to zero tariffs.

00:21:49.220 Yeah, hello, thank you.

00:21:51.240 We could dig that.

00:21:53.000 This is what President Trump talks about, reciprocity.

00:21:55.060 There's a whole new economic model and a national security model,

00:21:58.900 and they should notice when President Trump says hemispheric defense,

00:22:03.180 he ain't kidding.

00:22:05.560 From the Panama Canal to the Arctic with Greenland there to stand watch 0.91

00:22:10.120 over Russian submarines coming through the Greenland-Iceland-UK gap,

00:22:15.800 is what it's called, the gap between the deep fjord,

00:22:19.380 basically between Greenland and Iceland, Iceland kind of a volcano.

00:22:24.160 You know, put submarines right there, boom.

00:22:27.880 You can track them, you got them.

00:22:29.820 Or if the balloon goes up, it's a shooting gallery.

00:22:32.660 Just saying.

00:22:34.160 But it means our defense, and they're not in the North Atlantic.

00:22:39.680 NATO, you worry about the Russian Army, we got the Russian Navy, you know, deal with it.

00:22:44.080 We're there to help, but we're not there to pay for the whole thing.

00:22:47.540 That's what's gotten their attention.

00:22:48.680 Remember, finally the Germans said, hey, I've got to go to emergency measures,

00:22:51.380 and we've got to change the Constitution to basically raise debt. 0.91

00:22:54.960 Yeah, like the $36 trillion we got for paying for deadbeats like you? 0.89

00:22:59.080 Deadbeats. 0.98

00:22:59.840 European elites.

00:23:02.360 Julie Kelly, how was the hearing today?

00:23:04.760 One of my favorite judges, if not my favorite judge, was holding court.

00:23:08.860 It takes a lot to get a judge in a federal court to open up on President's Day.

00:23:13.600 They must have been hating this, ma'am.

00:23:15.120 What do you got?

00:23:15.660 Yes, so this was Judge Tanya Chukkin, the Obama appointee, who, of course,

00:23:20.960 presided over Jack Smith's J-6 indictment against the president that was dismissed after he won.

00:23:28.080 So she is now handling the lawsuit filed by numerous blue Democratic states,

00:23:34.160 Massachusetts, Michigan, California, and a few others,

00:23:37.260 who are trying to prevent Elon Musk and Doge from accessing data from seven agencies,

00:23:46.020 including education, DHS, energy, et cetera, accessing that data and then using that, of course,

00:23:53.640 to advise or recommend employee cutbacks or program cutbacks.

00:23:59.360 So what these states are asking for, Steve, like all of these other lawsuits,

00:24:04.220 is a temporary restraining order preventing Elon Musk and Doge from accessing this data,

00:24:11.580 recommending the firing of any government employees, while she considers a preliminary injunction.

00:24:20.040 Now, Tanya Chukkin, surprisingly, I would say,

00:24:23.700 sounded extremely skeptical about the need for a temporary restraining order,

00:24:27.900 saying that it is an extreme measure, and that the plaintiffs in this case,

00:24:34.000 the numerous blue states, really hadn't demonstrated potential immediate or irreparable harm.

00:24:40.820 That said, she could deny the motion for a temporary restraining order,

00:24:47.180 however, set a schedule for a preliminary injunction, which would put this on hold for who knows how long,

00:24:54.080 but also seemed to support the idea that Elon Musk's role violates the Appointments Clause,

00:25:04.640 which, ironically, Steve, that was what was the fatal blow in the documents case in Florida related to Jack Smith,

00:25:13.180 that his appointment violated the Appointments Clause.

00:25:16.800 So, anyway, sounded today, again, she may deny this temporary restraining order,

00:25:22.200 however, set a schedule for a preliminary injunction,

00:25:26.280 and, again, consider the fact that Elon Musk's role violates the Appointments Clause,

00:25:32.740 which, if she does, that would set up a fight to the Supreme Court, 0.99

00:25:36.900 but could put Elon Musk's authority and his tasks on hold for an unknown amount of time.

00:25:45.260 Let me ask you, so did she slow anything down today? 0.91

00:25:50.280 Is there a TRO or an injunction?

00:25:52.340 Where does she actually stay? 0.95

00:25:53.320 Is all engines stop?

00:25:55.580 Are she letting work proceed as this goes through,

00:25:58.280 and they get ready for more detailed arguments in front of her? 0.98

00:26:01.680 Right.

00:26:02.220 So she, right now, is contemplating this temporary restraining order.

00:26:05.740 She said that she would file her order within the next 24 hours to gear point.

00:26:10.340 She scheduled this hasty hearing on President's Day, federal holiday,

00:26:16.540 when the courts are usually shut down.

00:26:18.860 Nonetheless, still this hearing, remote hearing,

00:26:21.800 where the public actually call in and listen to what has been happening.

00:26:26.740 So either tonight or by tomorrow morning, she will issue her order,

00:26:31.880 whether she's going to grant or deny this temporary restraining order.

00:26:35.260 That, again, sounded like she would consider a preliminary injunction.

00:26:40.720 And, of course, Steve, this is what's happening in most of these D.C. courts

00:26:44.120 where these judges are instantly issuing temporary restraining orders,

00:26:49.660 contemplating preliminary injunctions,

00:26:52.000 which, of course, would be a more permanent solution,

00:26:55.420 at least as it makes its way to the appellate court and the Supreme Court.

00:26:59.440 But this is what these judges are pretty much unilaterally doing in Washington, D.C.,

00:27:05.440 is exercising their judicial authority to thwart the Article II authority of the president

00:27:15.080 in deciding his team and deciding what federal agencies need to be pared back,

00:27:21.500 either funding-wise or employee-wise.

00:27:23.900 Did you think that the administration, the President Trump's team,

00:27:30.040 have a pretty compelling argument, or that it was just,

00:27:32.300 they didn't even get into that level of detail?

00:27:34.760 I mean, I think that they do,

00:27:36.400 because what you have to prove for a temporary restraining order,

00:27:40.280 and again, Judge Chetkin was very skeptical of the blue state's argument here,

00:27:44.560 is that this restraining order has to be imposed to prevent irreparable and immediate harm.

00:27:51.260 And she said, well, I really don't see how this will,

00:27:55.160 where the immediate irreparable harm is.

00:27:58.480 And the state's lawyer, this is the AG from New Mexico, said,

00:28:02.840 well, we're states, we rely on federal funding,

00:28:06.020 we need to know if certain people are going to be fired,

00:28:10.040 if these programs are going to be defunded,

00:28:12.500 because it impacts our ability to execute our own services at the state level.

00:28:18.140 So she did seem skeptical, but she pushed back on the DOJ's lawyer,

00:28:24.000 of course, representing the Trump administration,

00:28:26.940 demanded to know how many people have been fired so far.

00:28:31.700 I tell you what, I tell you what,

00:28:32.660 Julie, hang on, we're going to take a short break.

00:28:38.020 We'll be back in a moment.

00:28:38.800 Health isn't just a personal issue, it's a family issue, a community issue.

00:28:44.580 We're living in unpredictable times.

00:28:46.600 Supply chains can break down, hospitals can get overwhelmed,

00:28:49.280 and let's not even start on the natural disasters.

00:28:52.540 These aren't hypotheticals, they're happening.

00:28:54.360 You see it here in the war room, and we all know it.

00:28:57.100 The question is simply, are you ready?

00:29:00.140 That's where Jace comes in.

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00:29:47.320 Here's your host, Stephen K. Bannon.

00:29:53.440 Philip Patrick's going to be with us in a second.

00:29:55.360 Every day we have a shrug.

00:29:56.940 Don't talk about capital markets economics like a day without sunshine.

00:30:00.040 There's a gap.

00:30:03.800 The Hill newspaper today kind of said what the secret was.

00:30:07.440 Lindsey Graham would talk to the president.

00:30:08.740 Hey, we've got to go two bills, not one big, beautiful bill,

00:30:12.100 because we've got to get the $175 billion for the wall

00:30:15.960 and the deportations and a $100 billion tip to the Pentagon.

00:30:20.060 Let's round it up.

00:30:20.700 It's $300 billion of new spending.

00:30:22.780 Over and above the $6.5 billion, I kid you not.

00:30:26.640 And the Hill newspaper showed that you've got to get it in

00:30:29.860 before I'm going to pick a magic date, midnight on the 14th of March.

00:30:33.900 We're hurtling down there, folks.

00:30:36.460 Get ready for a big old CR that goes to the end of the year.

00:30:39.380 Of course, we're going to fight that because it's absurd.

00:30:44.720 It's Biden's numbers.

00:30:46.060 It's his budget.

00:30:46.840 It's $2 trillion of deficit.

00:30:48.120 And none of the Doge stuff gets included in there if you just do it that way.

00:30:53.280 Anyway, they need taxes. 0.99

00:30:55.700 They need tax revenue.

00:30:57.260 Tax Network USA slash Bannon.

00:31:01.660 Go there right now and get a free consultation on that letter.

00:31:05.980 It's sitting in your desk.

00:31:08.800 That's like a cancer because the fees are growing.

00:31:12.160 The penalties are growing.

00:31:13.280 The interest is growing.

00:31:15.040 It's not going to stop.

00:31:16.000 Call the people.

00:31:18.060 Contact the people at Tax Network USA.

00:31:20.600 Walk them through your tale of woe and see if they can help you.

00:31:23.980 If they can help you, boom, they're your guys.

00:31:26.080 If they can't help you, then you've got to contact the IRS.

00:31:28.560 But whatever you do, you've got to tear open the letter and address it today.

00:31:33.020 Tax Network USA slash Bannon.

00:31:35.840 Julie Kelly, the point of the exercise, ma'am, correct me if I'm wrong,

00:31:40.300 they want to know how many people Elon Musk and the Doge team have laid off.

00:31:44.340 Basically, they were hunting for that question, including the judge from the bench, ma'am? 0.66

00:31:49.340 She was.

00:31:50.080 So she directly asked to be a lawyer if she had read reports of mass firings last Friday.

00:31:56.160 She said, I don't have confirmation on that.

00:31:58.960 And she said, well, I'm also reading reports of mass firings over the next 14 days.

00:32:03.620 What can you tell me about that?

00:32:05.440 And he didn't have an answer.

00:32:06.540 She got typically surly, as Judge Chutton is known to do, and said, well, I want that information because why she wants it,

00:32:16.740 the ruse is to try to prove up this irreparable harm to the states and then, of course, to the federal government.

00:32:24.840 But what I'm really going to flag here, Steve, what's important looking ahead besides this temporary restraining order

00:32:31.160 and a possible preliminary injunction is Judge Chutton setting the stage to claim to rule that Elon Musk's role violates the appointments clause.

00:32:44.020 That will sideline him.

00:32:47.880 That will make it to the circuit court and then the Supreme Court.

00:32:51.760 But it will do damage to him with this idea that he should have been Senate confirmed.

00:32:58.900 She brought that up today.

00:33:00.540 He was not confirmed by Congress, by Senate.

00:33:03.620 He exercises tremendous authority.

00:33:05.640 But how does she – but by the way, he's an advisor, the U.S. Digital Service, and maybe they shouldn't have done it that way,

00:33:11.540 but they're just advisors to OMB.

00:33:15.180 He's a consultant and he's an advisor, correct?

00:33:18.220 Correct.

00:33:18.940 But that's what she was pushing back on.

00:33:20.820 She said at least twice that the states, the plaintiffs here, had a colorable claim that Elon Musk was working outside of the appointments clause

00:33:30.340 that as someone with this sort of authority, he should have been nominated to a real position that was created and confirmed by the Senate.

00:33:40.460 That's the big battle that Judge Chutton is teeing up today.

00:33:44.700 The temporary restraining order is just a minor issue.

00:33:48.340 This is the big battle that she's setting the stage for, in my opinion. 0.98

00:33:53.720 Okay, Julie, where do people go?

00:33:55.440 Your analysis is always brilliant and spot on.

00:33:57.960 We'll put that in the hopper and make sure people –

00:34:00.580 Thanks, Stephen. There's a lot more court proceedings this week, especially headed to the Supreme Court

00:34:03.640 on the firing of the Office of Special Counsel.

00:34:06.980 So my declassified with Julie Kelly on subject and then X Julie underscore Kelly, too.

00:34:13.280 Do we know if they've – the Supreme Court on the emergency docket, they have not notified the government, i.e. Trump,

00:34:20.700 that they're going to take this case on yet, have they?

00:34:22.740 Not yet, but this is related to a split decision by the D.C.

00:34:27.300 of Hella Court over the weekend that the dissenting opinion, Greg Katzis, the Trump appointee,

00:34:33.900 saying that Trump absolutely has the Article II authority to fire Hampton Dellinger,

00:34:41.020 the Biden-appointed Office of Special Counsel,

00:34:43.420 who also has tremendous power to bring Hatch Act violation investigations, et cetera,

00:34:50.160 and that the president was well within his authority to fire him on February 7th.

00:34:54.800 Judge Amy Bourbon Jackson restating Hampton Dellinger outrageously,

00:34:59.980 and this is what looks like will be the first lawsuit to head to the Supreme Court this week.

00:35:04.980 Julie Kelly, one more time, where do folks get you?

00:35:12.020 Substack Declassified with Julie Kelly and also at X Julie underscore Kelly, too.

00:35:19.040 Thank you, ma'am.

00:35:19.940 Appreciate you.

00:35:20.880 Thank you.

00:35:21.300 Julie Kelly on top of things.

00:35:22.440 Okay.

00:35:23.180 Battles in the court, battles in the streets.

00:35:26.260 Philip Patrick's gone.

00:35:27.020 A number of reports are coming out, Philip Patrick,

00:35:29.220 and I wanted to go to the smartest guy I know about precious metals and gold,

00:35:32.520 and that would be Philip Patrick of Birch Gold.

00:35:34.440 So a couple of things over the last 72 hours that I think have a lot of interest in our audience

00:35:43.000 and a lot of interest online.

00:35:44.900 Number one, there's a situation where the Bank of England,

00:35:47.960 and people think, hey, the Bank of England is like the Fed, right?

00:35:50.940 Maybe even more responsible.

00:35:53.300 The Bank of England has been late or failed to deliver on some clearing of gold,

00:35:59.780 and there's questions of do they actually have the gold they think they have?

00:36:03.920 Is there anything to this?

00:36:05.020 Is this commitment they've had to clear this within the bounds of the time frame,

00:36:12.220 or does something happen here with the Bank of England, Philip Patrick?

00:36:16.180 Yeah, we're working through it.

00:36:19.020 It's certainly big news in the industry, but the Bank of England right now is under siege.

00:36:24.460 The vaults are being emptied at a rapid pace.

00:36:27.980 About 8,000 bars now have been shipped, and these are the big commercial gold bullion bars.

00:36:34.140 We're talking 3.2 million ounces.

00:36:36.660 That's the equivalent of South Korea's national gold reserves have now found a new home.

00:36:41.840 The media latched on to this because Deputy Governor of the Bank of England, Sir Dave Ramsden,

00:36:48.380 admitted that they wouldn't be able to meet the 14-day delivery requirement,

00:36:53.620 which technically could be considered now a default.

00:36:57.280 The lawyers, I think, will work through and settle that question.

00:37:01.440 At the moment, London's saying they need six to eight weeks to make a two-week delivery.

00:37:06.160 So currently, this is being described as a liquidity crisis rather than a solvency crisis.

00:37:13.260 But on the other hand, the Bank of England has been begging nations whose gold reserve that they custody

00:37:18.760 to loan their gold to the Bank of England, and that's obviously concerning in the current climate.

00:37:25.320 It seems like when a liquidity crisis becomes a solvency crisis, we only discover the truth too late.

00:37:31.880 So right now, it is a technical default, not a solvency issue, but we're going to have to watch and see how this thing unfolds.

00:37:41.660 Well, hang on for a second.

00:37:43.520 Hang on for a second.

00:37:46.160 Liquidity crisis is pretty bad when it comes – what is actually delivery?

00:37:50.260 What is this transaction about?

00:37:52.820 And when's the last time – bro, you're a professional – when's the last time the Bank of England

00:37:56.480 couldn't deliver and had, oh, well, we'll get to you in six to eight weeks?

00:38:01.960 That's a lot longer than 14 days, brother.

00:38:04.660 What was actually this delivery on?

00:38:06.980 And when Philip Patrick starts off, yeah, the vaults of the Bank of England are emptying even as we're speaking.

00:38:14.560 Probably got the audience more worked up now than when we started.

00:38:17.260 So walk me back through that one more time.

00:38:19.340 I take it this interview is going to take longer than I thought.

00:38:22.020 Start at the beginning.

00:38:23.380 Take your time and walk through this.

00:38:24.800 So, look, when we talk about physical delivery, we're talking about physical delivery of a commodities contract.

00:38:31.320 One to two percent of contracts usually request physical delivery.

00:38:36.120 But what we're seeing at the moment generally is gold is flooding out of London.

00:38:41.620 And this was the center of the world's gold market.

00:38:44.560 There's a number of reasons why, right?

00:38:47.420 First of all, and sort of the overarching theme, is just massively increasing demand.

00:38:52.920 And you and I have discussed this.

00:38:54.320 It's being driven by central banks and investors alike.

00:38:57.960 Secondly, there's an arbitrage play here.

00:39:01.540 And this is ultimately how markets respond to price dislocations.

00:39:06.480 Right now, the gold futures price in New York is high enough over the London cash price that it's possible to rent a cargo plane,

00:39:15.040 fill it with gold, and ship it to the U.S. commodities exchange.

00:39:18.360 This difference has always existed, but it's almost never profitable enough to warrant shipping.

00:39:25.740 Today it is because U.S. demand is higher for precious metals, for gold specifically, than anywhere else, right?

00:39:32.820 A bar of gold is worth more here in the U.S. today than a bar of gold everywhere, anywhere else, making the trade profitable.

00:39:40.460 On top of that, of course, we've got the potential of tariffs driving up commodity prices on all imports.

00:39:47.920 So there's massive pressure right now to onshore product in anticipation of further demand surges.

00:39:55.780 Look at J.P. Morgan.

00:39:57.060 They just shipped 3 million ounces of gold bullion from the London bullion market to the U.S.

00:40:02.760 That's the second largest gold bullion delivery in history.

00:40:06.580 What this tells me, though, I think it's a reminder that gold is almost uniquely a physical asset, first and foremost, not just a financial asset.

00:40:18.180 We have to remember a lot of the trading we see in the gold markets is imaginary, right?

00:40:23.120 It's simply made up.

00:40:24.700 For some numbers, in London, there's 20 million ounces of gold that are traded every day.

00:40:29.700 That's roughly an entire years of production traded every week.

00:40:34.700 We see another 27 million ounces trading every day on the comics.

00:40:38.520 That's the entire world's production of newly mined gold traded every two and a half days.

00:40:45.120 Spoiler alert, there isn't that much gold out there.

00:40:48.820 So as a result, 96 percent of the gold traded daily in London and New York markets has no physical reality.

00:40:56.340 You could think of it as Schrodinger's cat, right?

00:40:59.920 But the problem is, once the 4 percent of real gold has been delivered, what's going to happen then, right?

00:41:06.440 At that point, it's a logistical nightmare.

00:41:09.680 First of all, I think investors who think they own gold are going to discover that what they really own is an IOU.

00:41:16.600 Secondly, I think we see a wave of defaults on physical gold deliveries.

00:41:20.840 Remember, 96 percent of them are, by definition, impossible.

00:41:26.040 And thirdly, I think those dynamics will amplify demand for physical gold because investors will realize and be reminded that only physical, tangible gold matters.

00:41:35.880 It almost reminds me of the bank failures back in 2023, right?

00:41:40.700 If I have a dollar in my pocket, it's really a dollar.

00:41:43.340 If it's in the bank, is it really a dollar, right?

00:41:46.980 We already know that if everyone tries to get their money out of the bank tomorrow, the banking system will collapse, right?

00:41:52.740 Because banks don't have it.

00:41:54.260 They lent it to commercial real estate developers.

00:41:57.280 And that's what the gold market is feeling like right now.

00:42:00.280 Gold as a financial asset only really works as long as everyone agrees they don't really want gold, right?

00:42:06.640 They want to speculate on its price moves.

00:42:09.040 The moment people start demanding physical gold deliveries on their commodity contracts, the market falls apart.

00:42:16.000 And I think we're starting to see the beginnings of that right now.

00:42:19.780 So in summary, if you can't hold it in your hand, it isn't real.

00:42:23.420 And we're starting to feel the effects of that.

00:42:28.560 The phrase Bank of England should never be – the sentence should never end with liquidity crisis.

00:42:36.260 I've got a minute.

00:42:37.320 I want to hold you over.

00:42:38.120 How did that happen?

00:42:39.040 It shouldn't happen.

00:42:43.640 And it's a reflection of volatility around the globe.

00:42:46.740 It's a reflection of leverage going out of control.

00:42:50.420 And we're starting to feel the effects of it.

00:42:52.860 And we have problems here in the U.S. as well.

00:42:54.820 You sent me an article about Elon pushing for an audit of Fort Knox.

00:43:00.060 We've got questions on U.S. gold reserves as well.

00:43:03.820 So there's a lot at play in the current climate.

00:43:07.440 There's no question about it.

00:43:08.600 But it's an interesting time to be alive.

00:43:11.840 I know you're busy, but I do want to hold you just through this short break because I want to talk about this audit and how people can kind of – I think, Philip – I think a couple of three people might want to talk to the Birch Gold guys.

00:43:23.600 I'm just guessing.

00:43:26.000 The Bank of England can't make good on their deliveries.

00:43:28.740 I don't know.

00:43:31.000 Get Philip Patrick on the phone.

00:43:32.320 Let's talk to the guys at Birch Gold.

00:43:33.680 Short commercial break.

00:43:34.860 Philip Patrick on the other side.

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00:45:13.900 Here's your host, Stephen K. Vance.

00:45:16.460 Okay, I know you've got to bounce, Philip.

00:45:23.100 You guys at Birch, one of the reasons I like you, you guys just deal in physical delivery, right?

00:45:27.260 You deal in people owning the gold itself?

00:45:31.500 That's all we deal with, physical precious metals.

00:45:34.100 They don't sit on balance sheet.

00:45:35.660 No counterparty risk.

00:45:37.240 The individual owns them.

00:45:38.820 It's important for us.

00:45:40.140 Absolutely.

00:45:42.900 Do the audit, give me a minute, on the audit on Fort Knox, but the Ron Paul and Rand Paul have been bugging on this forever.

00:45:52.360 Why do you want to see it, and what do you hope is the outcome?

00:45:56.160 For a long time, I mean, we need some transparency.

00:45:58.720 Fort Knox hasn't been audited for 50 years.

00:46:01.300 Basically, the last audit was in 1974, primarily because the U.S. government is refusing external audits on the grounds of national security.

00:46:11.240 And this is the part that concerns me, right?

00:46:14.220 They say that, you know, gold reserves are seen as a symbol of national credit, and a public order, they fear, could trigger a crisis of trust.

00:46:24.140 So here's the strange thing in my mind, right?

00:46:27.660 How can an audit create uncertainty unless it discovers discrepancies, right?

00:46:32.400 The whole point of an audit is simply to examine financial records and to create certainty, right?

00:46:39.340 So this is reminding me of the situation with the Bank of England.

00:46:42.980 If the gold's really there, why can't you ship it?

00:46:46.060 Why can't we see it, right?

00:46:48.200 Why does anyone resist an audit if there's nothing to hide?

00:46:52.240 That, for me, conceptually, is just difficult to get my head around.

00:46:56.340 But I want to see it, right?

00:46:57.980 I want to confirm that the U.S. gold reserves are unencumbered, that they haven't been leased or sold to foreign nations or stored on their behalf.

00:47:05.620 But like I say, the fact that they've been resisting an audit for decades here in the United States is in on itself very concerning, despite public calls for one.

00:47:16.940 So, you know, this is just another move for transparency.

00:47:20.700 And if Musk can pull it off, like I said, I'd be very interested to see the results.

00:47:25.920 Help me out here.

00:47:28.000 Isn't there supposed to be $750, almost a trillion dollars of implied value that it's on the books at $42 an ounce?

00:47:37.400 And actually, today, mark-to-market is $29 over $2,900.

00:47:42.300 Is that not an issue of the audit, but that's reality, right?

00:47:47.160 It's on the books at $42, $49.

00:47:51.240 And it's actually the mark-to-market is $29.

00:47:54.660 So we have almost a trillion dollars of intrinsic value in there, sir?

00:47:59.380 Yeah, it's exactly correct.

00:48:01.100 $42.22 announces the book price, which gives about $800 billion, but at current prices, over a trillion dollars.

00:48:08.980 So that is based on published gold reserves.

00:48:13.000 We'll have to see the reality if Elon can get an audit.

00:48:16.340 But, yeah, that's absolutely correct, yes.

00:48:18.640 Last thing, the gold shipped to – real quick, I know you've got to bounce – the gold – there was a huge shipment from New York or from London to New York.

00:48:30.100 Was that the arbitrage you're talking about?

00:48:31.740 Is that normal course of business that people are just sensitive to it now?

00:48:34.760 What happened there?

00:48:36.100 It's a combination.

00:48:37.280 So it's partly arbitrage.

00:48:38.640 They see a profitable arbitrage in there, and it's partly demand as well, right?

00:48:42.960 Like I said, they need to get gold to meet domestic demand in the United States, and they need to do it before tariffs kick in.

00:48:50.060 So I think they're expecting a spike in demand, and we're fulfilling.

00:48:54.120 So right now, like I said, it looks like a logistics issue for the Bank of England.

00:49:00.140 But, you know, reaching out to foreign nations asking to lend gold reserves, that's a little bit concerning.

00:49:06.180 So I think we'll have more clarity as we head through.

00:49:09.220 Never good luck.

00:49:10.440 But we'll see how it shakes out.

00:49:11.900 We'll get you back up.

00:49:12.960 Thank you.

00:49:14.080 I want people to come and talk to the experts.

00:49:16.100 I want people to talk to you and your team.

00:49:17.420 Where do they go?

00:49:18.620 Very simple.

00:49:19.700 Birchgold.com forward slash Bannon.

00:49:22.120 That'll get them access to free information.

00:49:24.840 If there was ever a time to immerse yourself, not to steal your words, Steve, in information, now's the time from an economic standpoint.

00:49:32.400 So Birchgold.com forward slash Bannon or Bannon, text Bannon to 989898.

00:49:39.120 That'll get them access to free information and they can reach me at Philip Patrick on Getter.

00:49:45.520 I'm putting this stuff out all the time, all the articles.

00:49:49.140 So it's there for people to read.

00:49:50.760 And this is why it's a tremendous amount of information for the Birchgold guys.

00:49:56.080 Get smart and get smart today.

00:49:57.920 Philip, thank you for taking time.

00:49:59.280 I know it's a crazy day there.

00:50:01.080 Thanks for having me, Steve.

00:50:01.980 Philip Patrick, always on the desk.

00:50:05.740 Sean Rollins joins us.

00:50:08.760 Dr. Sean, talking about tariffs, I wanted to have you on here.

00:50:12.460 You know, Rosemary Gibson dropped by the other day. 0.92

00:50:16.520 We talked about the supply chains.

00:50:18.560 It hasn't changed much.

00:50:19.500 They had this factory in Richmond.

00:50:20.640 It really hasn't opened.

00:50:22.180 Everybody's concerned about the tariff war that's coming.

00:50:25.360 CCP's making initial moves.

00:50:28.100 Jace Medical, you guys conceived this after you read the book and saw her on the show.

00:50:34.600 On active pharmaceutical ingredients and generic drugs, how can you help people, calm people down and say,

00:50:40.700 hey, we're here for you and we can get you beyond the threats of the Chinese Communist Party, sir?

00:50:47.100 Yeah, thanks, Steve.

00:50:48.120 You know, this talk of tariffs, when we first heard about it, we figured that, you know, typically pharmaceuticals are exempt and traditionally have been exempt from these kinds of things.

00:51:00.840 But what we're hearing now is that that doesn't look like that will be the case, that these tariffs may very well include pharmaceuticals.

00:51:10.860 And we're starting to see more articles written about this.

00:51:13.460 I guess in some ways it's heartening for me to see that this is being brought to people's awareness, the fact that why does it matter if there's tariffs?

00:51:21.420 Well, it matters because all of our medications, virtually 100% of them come from overseas, and most of those come from China.

00:51:29.160 So we're seeing this education is starting to pick up, people are starting to realize, and, you know, I suppose that we may even see something similar to what we're seeing in the gold industry,

00:51:41.740 where, you know, people are becoming more aware, hyper aware of what's going on and wanting to have these things on hand.

00:51:48.240 And it wouldn't surprise me if we start to see health systems, whether that's hospitals, large pharmacies, seeing some of this stuff coming down the pipe, whether it's tariffs,

00:51:58.760 whether it's just simple supply chain disruption, as tensions are heating up between us and China,

00:52:05.160 that people start to hold larger stockpiles of these medications, further exacerbating the problem.

00:52:10.780 And this is all information that we've been really out there trying to get people to realize for years now.

00:52:18.840 And I think this simmering pot, I don't know how much longer it will simmer before it starts to boil over.

00:52:24.600 So we're here, we're still here, trying to get people access to these medications to do it in a way that they can get...

00:52:32.140 Dr. Sean, hang on, I want you to stick around at the first of the hour, because these things are real.

00:52:41.380 The CCP, and they've said they're just not going to sit there, President Trump's going to put in cross tariffs across them.

00:52:46.680 He said that. That's going to happen.

00:52:49.540 And they're already making moves.

00:52:51.800 So we need you at the ramparts.

00:52:54.220 We cannot have your personal life and your issues and your anxiety about certain things overwhelm your ability to man the ramparts.

00:53:02.000 Dr. Sean, we're going to take a short break.

00:53:05.880 He'll be back with us in just a moment.

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Bannon's War Room - February 18, 2025

Episode 4276： Disaster In Ukraine

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