Frank Gaffney and Stephen K. Bannon join me in the War Room to talk about the Chinese Communist Party being banned from investing in the US capital markets, and why that's a good thing for the MAGA audience.
00:01:36.000Technically, is it a memorandum or an executive order?
00:01:40.000And what exactly did President Trump commit to on Friday?
00:01:46.000It is a huge deal, and I think a great win for the War Room in particular, as Steve has been a leader on trying to rectify what has been one of the greatest financial scandals in all of human history.
00:02:03.000And that was that the United States investors have mostly unwittingly, for years now, been having their funds, especially if they're in emerging market portfolios, transferred, mostly without their knowledge, into companies owned and operated or otherwise under the direction of the Chinese Communist Party.
00:02:32.000And that would include, by the way, companies that are very explicitly working for the People's Liberation Army.
00:02:38.000It would also, of course, as we know here in the War Room, essentially apply to all other companies in the Chinese regime, because they all are part of what's called the military-civil fusion, which means they all must serve the military.
00:03:00.000So what the president did on Friday was he signed what's called a National Security Presidential Memorandum, an SPM, that is extraordinary.
00:03:13.000It's quite broad in terms of its focus.
00:03:18.000It is not just about the capital market access that the Chinese have enjoyed basically since May of 2013, when a fellow you may remember by the name of Joe Biden, he was then vice president of the United States, and he helped engineer, as was his want, of course, corruptly, I'm sure,
00:03:41.000a deal, a deal whereby the Chinese Communist Party was allowed to have preferential access to our capital markets.
00:03:50.000In other words, they were given the opportunity to put their stocks, or for that matter, bonds and other things into our capital markets without having to comply with our laws or our regulations.
00:04:05.000That's something, by the way, no American company could, or for that matter, other foreign companies could do, but Joe Biden got a sweetheart deal, and what I think the president has said in this direction, it's a statement of intent.
00:04:19.000It's not an executive order, but it is a statement of very, very clear intent.
00:04:24.000We are going to restrict the Chinese Communist Party's access, specifically any of these companies that are in the military civil fusion business, to the kind of money that they've been getting and that, by the way, has transformed the Chinese Communist Party into a mortal enemy that is extraordinarily powerful, not only in a host of other areas like the economics and manufacturing and trade and so on, but military.
00:04:53.000But military power has well been to the point, as you know, where they may well be ready to go to a shooting war.
00:05:00.000Frank Gaffrey, this is massive, but let me ask you, are there World Trade Organization implications here?
00:05:12.000The memorandum speaks explicitly of what has happened to this country as a result of the Chinese having several different deals cut, one of which was to allow them into the World Trade Organization.
00:05:28.000So I think all of these aspects, and by the way, it's the purchase of farmland.
00:05:36.000All of this is going to be under, I believe, a totally new regimen because, Ben, as you know, the Chinese have engaged for decades in unrestricted warfare against this country.
00:05:49.000Back in May of 2019, they actually declared on the pages of their top propaganda outlet, the People's Daily, that they announced they declared they are engaged in a people's war, a whole of society war against our country.
00:06:05.000I'm fond of saying that in the intelligence business, there's a term for these things.
00:06:14.000It's no laughing matter, of course, except the extent to which it is absurd that most Americans still do not know that.
00:06:22.000Donald Trump has rendered an incalculably important service, I believe, by describing the Chinese very directly as a foreign adversary of our country and directing all of the relevant departments to get on the stick right now to curb their access to our capital markets, curb their access to our farmland,
00:06:46.000curb their access to, you know, investment in our country that does not serve the interests of the United States but actually serves theirs.
00:06:55.000He says very explicitly this is in part about reciprocity.
00:06:59.000We're not allowed to own shares in their companies as a practical matter.
00:07:04.000They should not be entitled to do it here or in fact have their companies on our markets if they are in fact engaged in activities that are absolutely inimical to the security and well-being of the American people.
00:07:18.000To say nothing of the investors whose interest in having those investments for their pensions and so on is very much at risk as well.
00:07:30.000Frank, Beijing has already responded to this executive presidential order calling it discriminatory and promising that they were going to retaliate.
00:07:40.000What have you picked for how the CCP will retaliate and how might the Trump administration, how might you advise President Trump to be prepared for these incoming retaliations?
00:07:58.000I mean, look, I believe they are at the cusp of a shooting war with us.
00:08:03.000So conceivably that could be the option.
00:08:05.000But more likely, I think they're going to try to fashion some kind of economic or financial retaliation.
00:08:12.000And all I can say is bring it because I believe, and I think Steve does as well, our colleague Roger Robinson, the great Maria Bartiromo, Fox News, who's done two sensational specials on the folly of underwriting the enemy, which is what we are engaged in here.
00:08:33.000These are folks who are, I think, prepared to make sure that Wall Street stops doing just that, making more dangerous this adversary.
00:08:42.000And if the Chinese want to punish those Wall Street guys, so be it.
00:08:47.000If they want to try to effect harm to American investors, well, they've been warned.
00:08:55.000They've been repeatedly warned, and they are going to have, I believe, grounds for holding accountable the Black Rocks and the State Streets and the Fidelities and the Vanguards, who have incessantly been pouring their money into these unaccountable, non-transparent, and actually dangerous Chinese companies.
00:09:19.000Look for quite possibly, I think, tort lawyers to get engaged here in, you know, the kind of lawsuits, class action lawsuits that would bring Wall Street to heel right quick.
00:09:35.000But the president has, just to be greatly, you know, appreciated for what he's done here, he has finally said, all this unrestricted warfare, all this people's war business, we're going to fight back now.
00:09:51.880And that is going to entail stopping the practice of making our most dangerous enemy more capable, more powerful, and more dangerous.
00:10:03.380And this is a moment that I believe our Committee on the Present Danger, China, Roger Robinson, the War Room, Maria Bargaroma, and so many more, Steve Bannon most especially, need to glory in and appreciate Donald Trump for his leadership, as always.
00:10:52.060The memorandum, to be clear, is basically a statement of presidential intent, directive to all of, as I say, the relevant agencies, and in very explicit terms, by the way.
00:11:03.660But we now need the implementation to be pursued aggressively.
00:11:11.220And we've got a couple of ideas, starting with getting rid of this memorandum of understanding that Joe Biden negotiated, you know, back in 2013, that is the root of so many of these problems.
00:11:23.500Once that's gone, they no longer have the benefit of just ignoring our laws and our regulations.
00:11:29.620We want to get rid of the A-shares that are now populating our markets, the corporate and sovereign bonds, the so-called variable interest entities.
00:11:41.900This is referred to, but it's under study.
00:11:44.260These are the sorts of steps, including the over-the-counter market, that now need to be taken down as well.
00:11:51.880And I think this is very much in the interest of, of course, the investors themselves, but also the American people more generally and, indeed, our country.
00:12:01.740The president, I think, said that he was going to work to deter American investment in the Chinese military industrial sector.
00:12:11.740Do you see this memorandum coming as it did, I think, like three weeks on top of the 10 percent tariffs that the U.S. just raised against China?
00:12:22.160Do you see the announcement today that Apple is going to be investing $500 billion across the United States as early fruit of this reorientation into America's own supply chain capacity out of China?
00:12:41.600It's not necessarily responding to this late-breaking news, but certainly the direction that the president has given to this point.
00:12:48.040And he said, as you know, very clearly, we are going to reward entities that are doing business in America, and we're going to punish entities that decide they want to continue, you know, manufacturing, trying to sell us, you know, export to us from China.
00:13:07.340And I think Apple read that loud and clear, and praise the Lord.
00:13:11.920Let's hope it's the beginning of mass reshoring, as we need, of industrial capabilities in this country.
00:13:19.520And, by the way, not least, you know, one of our Committee on the Present Danger China webinars, which people can follow at presentdangerchina.org,
00:13:26.320recently looked at the supply chain dependencies even the United States military has on China.
00:13:34.340We've got to get rid of that as much as possible, and I think the larger direction of the president has been extraordinarily helpful in that regard.
00:13:42.320Now we need to see it implemented faithfully and fully.
00:13:45.800No more funny business with Wall Street, and I think Scott Besant at the Treasury Department is a man to help stand up to that.
00:14:14.940So, presentdangerchina.org is a tremendous resource of the Committee on the Present Danger China.
00:14:20.440I'm personally at Frank Gaffney on Twitter, and we also, of course, have Securing America, our own program here on the Real America's Voice Network.
00:14:31.680You can follow all of that at securingamerica.substack.com.
00:14:36.560And I very much invite your listeners to visit us in the anti-chaper of the war room, I like to think, starting daily at 5 a.m. here on RAB.
00:14:47.760Frank Gaffney, thanks very much for that briefing.
00:14:50.600And it's great to hear that 30 days into this new administration, the pressure is being put on the CCP like never before.
00:14:58.080We'll be back in tune itself in a short break.
00:15:00.420Have you seen the news from economists forecasting a depression?
00:16:52.980And I think you have to look at it as whole cloth.
00:16:56.480This initiative coming out of the White House on Friday, the America First Investment Policy.
00:17:03.400And I think this is going to go deeper, you know, about buying, you know, the Chinese Communist Party, CCP affiliate people buying farmland, buying around our bases.
00:17:14.520That is the strongest we've seen to the threat of decoupling or the actual the implementation of decoupling.
00:19:09.260The reason Macron's at the White House today is they're trying to entangle President Trump.
00:19:14.400Now, he's too smart for that, but they're – my point on anything dealing with Ukraine and Europe right now is that they will try to leave us holding the bag.
00:19:24.480Now, President Trump's too smart for that.
00:19:53.560They pretend to be conservatives, but they're globalists.
00:19:56.400They will not allow ADF into the – AFD into the government.
00:20:02.460There's not going to be a coalition of the center-right and kind of the farther-right.
00:20:07.620That's how much the globalists in Germany hate kind of what the MAGA movement stands for.
00:20:15.000So, with President Trump, I mean this Ukraine thing is part of obviously a bigger peace package, which is I think finally we bring peace to Europe from August of 1914.
00:20:26.920You really now have a shot at peace, and we can put our weapons down.
00:20:30.640So, in that regard, I just don't trust the Europeans.
00:20:32.920People say, oh, you're – hey, I think the Russians could be much more straightforward.
00:21:03.820And they look – and by the way, Europeans, the European elites also look down their noses at Americans, ordinary, regular, working Americans as well.
00:21:12.140It's patronizing, and it's disgusting.
00:21:14.220Look, this thing about Germany yesterday can't be overemphasized.
00:21:19.920Germany is the most important member state of the European Union by far.
00:21:25.060It's the largest population, largest economy.
00:21:27.700Interestingly enough, Friedrich Merz, the new Reichskanzler, is very much in the Atlanticist mold.
00:21:37.500If you considered him to be the German equivalent of Phony Maloney, you wouldn't be going far wrong.
00:21:44.220He was constantly criticizing Olaf Scholz for not allowing the use of German-provided long-range missiles to be fired by Zelensky deep into Russia.
00:21:55.320Merz very much wanted that escalation.
00:21:58.620The interesting thing, however, with the result yesterday – and we touched on this on the show last week – about this discussion that was being floated to amend what is their de facto constitution to allow them to take on more debt.
00:22:14.220The result that the German people have, whether they decided to do this or they didn't decide to do this – the upshot of yesterday is that that's going to be very difficult now.
00:22:25.140Because the left have already made a statement today.
00:22:28.340This is Olaf Scholz's party, the Social Democrat Party.
00:22:32.000They've said that they are open to amending Germany's basic law, but only on the condition that the increased debt that they take on for increased public spending is used on German infrastructure.
00:22:46.560They're absolutely against sending that money to Ukraine, as is, of course, the AFD.
00:22:53.440So even though they've got the Atlanticist in that the sociopathic overlords wanted, he's going to have his hands tied to some extent.
00:23:03.340Because in the great conversation of exactly what the European Union is going to be doing now with regard to taking over from America with the most important economy now, it moves to Macron and to – let me make this point, please, Steve, because I think it's going to just tell us what you're going to ask me.
00:23:23.920Emmanuel Macron at the White House today, he's there basically not only in his own name, but also in the name of Keir Starmer pushing for this backstop.
00:23:33.820Now, I would have said two weeks ago the Europeans are on a hiding to nothing here.
00:23:41.420Because if Scott Besson gets his way with this treaty with regards to the rare earths and the minerals, that is actually going to bind in America into Ukraine.
00:23:54.060It will turn Ukraine into a protectorate.
00:23:56.580In your absence, just before the break, we had a – if you just kind of pull back the second asset, here's the headline from the Mining Weekly publication, which says explicitly – and here's the headline once again.
00:24:10.000Zelensky says U.S. mineral steel must include military guarantees.
00:24:15.580The Ukrainians are absolutely determined on this point.
00:24:18.540So whilst the conversation is moving towards the Europeans, what's actually happening behind the scenes is that the U.S. is going to be even more engaged up on the eastern frontier of the European Union than it was before the invasion.
00:24:43.600The deal does have $500 billion come back to this.
00:24:45.560I think one of the things President Trump's most upset about – I want to go back to this $100 billion and $350 billion.
00:24:51.400The $100 billion, it turns out now, whatever the Europeans is, is done as a loan.
00:24:56.220The United States were just done as grants, not loans.
00:24:59.460So he's trying to figure out a way to at least get our cash back.
00:25:05.280I want to go to Germany for a second because it's AFD in context of the Ukraine situation.
00:25:11.260This is a lesson here for the people of the United States.
00:25:13.640You know, Germany is an advanced industrial – I would argue, next to the United States, it's the most advanced industrial power it once was, much more so than China.
00:25:25.160Russia, right, Russia, not even the top league of that, right, maybe France and Italy are next.
00:25:36.000You know, Dave Walsh has been on here, been on the show for so long talking about how their net carbon zero and the Green New Deal,
00:25:43.800the kind of Greta Thunberg of it all, really had them do an energy policy that destroyed their industrial power, their ability to – it made costs so high.
00:25:54.600And then when the Russians cut them off, they went in a free fall.
00:25:57.480On top of that, Merkel was the open borders to invite the entire – was it back in 14 in the Syrian situation over their borders?
00:26:06.900Total open borders, total open arms to millions and millions of these migrants at the same time becoming a de-industrializing.
00:26:18.700This is why – this is what the revolt of the Alternative for Deutschland people are.
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00:33:03.320Also, this thing on Friday, this executive order is quite profound.
00:33:08.340It's President Trump really taking the measure of the Chinese Communist Party in what I consider, say, unrestricted warfare.
00:33:15.220Now, he has tremendous respect for Xi, although he understands he's a tyrant and a dictator.
00:33:23.920He sees how he's the head of, you know, one of the most ancient civilizations, a government on top of one of the most ancient civilizations.
00:33:32.280Of course, we are the belief it's an illegitimate government, but it rules nonetheless.
00:33:35.840But the Chinese Communist Party are just not going to sit there.
00:33:40.620They're just not going to sit there and let the United States get a, you know, start to have a strategic dialogue with Russia, start to bring the Ukraine war to an end.
00:33:49.260Ben Harnwell brought up the most brilliant part of this show this morning.
00:33:53.660It was him saying, hey, the thing you're hanging out there is that the CCP will be all over Ukraine if the United States is not or in some sort of way brings peace to Europe through bringing peace between the Europeans and the Russians.
00:34:10.120And that's why Jace Medical, I think, more than ever, it's one of the reasons we partnered with those guys.
00:34:14.700They took Rosemary Gibson's book and made a business out of it.
00:34:17.220And Rosemary Gibson was the first to say, hey, look, I don't know if anybody's paying attention to this, called supply chains.
00:34:23.720They control 100 percent of active pharmaceutical ingredients, API, and 80 percent of generics.
00:34:29.040And the generics they don't are in charge of in India, they still control the API, so they control everything.
00:34:36.600Do not get caught up in case we get in a major trade war with the Chinese Communist Party because, hey, tariffs are coming between the United States.
00:34:46.920And China, and more importantly, President Trump's going to cut off all the capital that's going to go into their military technology, which is basically 90 percent of their economy.
00:35:07.860So look, compare 2021, which was the last federal election, with the one yesterday.
00:35:15.240And you'll see that the AFD picked up 4.4 million votes.
00:35:21.260The vote yesterday, just by the way, in terms of turnout, like 84 percent, the highest turnout in Germany since unification in 1990, 35 years ago.
00:35:31.280So look, these 4.4 million, see, break this down, right, because you know MAGA better than anyone else and the parallels between Germany and America.
00:38:35.120I felt like responding on Getter saying, actually, I think the better response would have been saying the White House is praying for a Pope.
00:38:42.860Look, I don't know what the situation is with regards to Bergoglio.
00:38:48.600I've been studying this thing very closely.
00:38:51.240I haven't seen – looking at the minutiae here – I haven't seen anything from the Vatican that indicates to me that they are imminently expecting him to die.
00:39:02.260He is an 88-year-old man, massively overweight, with one lung and double pneumonia.
00:39:54.240Got some great posts there at the top of my feed waiting for you.
00:39:57.560Steve, just before I bounce, I just want to say because you mentioned quite a few times already the fact that Joanne Reid is not going to be fronting her show anymore on MSNBC.
00:40:08.160As someone who occasionally writes headlines, the perfect headline for that, I never saw it, but had I been writing one, it would have been read out.
00:40:18.300It would have been perfect, a ready-made headline, but I missed the opportunity.
00:40:48.760So Bardella, the Front National Hour, National Rally, and what I said about him when he canceled his speech, if you're prepared to be rolled over by the mainstream media, and brother, you've got to understand something.
00:41:12.000These overpaid actors and actresses that are the anchors and the people on TV, because they're not particularly bright, they don't really understand what's going on.
00:41:24.040And so they sit there after a speech, which was a motivational speech to the people that matter, and those people that matter are the war room posse and the MAGA base that come and take their hard-earned money to come to CPAC to make sure that they can show, not just show the support, but learn how to do things better and network better.
00:41:42.000When the mainstream media sees a speech like that, and at the end, when I give my traditional kind of acknowledgement and wave to the crowd, said, oh, this guy's throwing Roman salutes, this guy's throwing Nazi salutes, right?
00:42:27.180And a little boy is not going to lead France, particularly to save France, because right now France is kind of in a free fall like Germany.
00:42:35.120They've already turfed out the parliamentary party or the parliamentary control of it.
00:42:40.680But you guys are a long way from victory.
00:42:43.180And one of the things people are looking for across the world is authenticity, grit, and fight.
00:43:18.280And, you know, Front National has come close a couple of times, but is not there.
00:43:23.100And one of the reasons it's not there, I think, is situations like this.
00:43:27.360And this is a perfect example, particularly with Macron, who's now talking about putting together a European army and talking about putting combat troops into Ukraine.
00:43:34.000So, this thing is, if you kowtow to the mainstream media, they're going to own you.
00:44:18.700He's our wise man, a former CIA, Pentagon, and White House advisor with an unmatched grasp of geopolitics and capital markets.
00:44:25.800Jim predicted Trump's Electoral College victory exactly 312 to 226, down to the actual number itself.
00:44:35.680Now he's issuing a dire warning about April 11th, a moment that could define Trump's presidency in your financial future.
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00:45:01.080This is Jim's flagship financial newsletter, Strategic Intelligence.
00:46:03.300Historic day, historic week, you're seeing changes come to Europe, and President Trump is trying to put forward a plan of peace and prosperity.
00:46:16.240And, of course, he's being chopped up in the media all the time.
00:47:47.240But, you know, we came – what we wanted to do with Lean, that I wanted to attack kind of every single aspect of what helps – what kind of gets people to gain weight, right?
00:48:00.420So a lot of those fat burners that you see out there are things that are helping to lose weight.
00:48:14.020So they're focused primarily on that, the thermogenic component of – and the energy component of caffeine.
00:48:20.460What we did with that was I wanted to hit multiple angles.
00:48:23.620And it's the same thing that we've done with Lean, I mean, in the field of greens and how we attack that componentry.
00:48:28.460One was how do we get it so that if you already have excess fat that we could burn – use that as energy, right?
00:48:34.960So we add – we have some caffeine, we have some advantage in there, we have another ingredient that also helps burn some of that old fat and activates it so it can be used as energy.
00:48:43.960Two is that we've known for a long time that having unregulated blood glucose or blood sugars is also an issue.
00:48:49.660So we added an ingredient to help kind of stabilize that as well as help maintain its function that way for good blood glucose levels.
00:48:57.620And then the third component of that was before all of the hype about all of these GLP-1 agonists and the – oh my goodness, what's the popular ones?
00:49:08.060But anyways, whatever injections that people are using so that they can stop eating or slow down their gastric emptying, we were already looking at that.
00:50:23.580It wasn't just go in there and get somebody highly caffeinated and kind of forget about what they're – that they're hungry or that they're on dieting.
00:50:31.520The basis was how do we get these four angles that really continue to help you gain weight, right, and just have it so that it's nice and smooth and it's a great process to get into weight loss.
00:50:44.060So where do people go right now to try this out?
00:51:03.140I mean we've had a great response to this at the beginning of the year.
00:51:05.680And I know that it's still kind of cold, so I think people are out there.
00:51:08.640But coming into the summertime, this is a great addition to anyone's base.
00:51:13.600Kind of like what we were discussing before, Steve, when we were talking about how do we create a stable foundation for a healthy lifestyle, this is a great way to start that.
00:51:20.180And a constant reminder in the morning that, hey, we're coming out there looking healthy or feeling better about ourselves and getting some weight off of our bodies.
00:53:16.160We're back at 5 to explain it all to you.
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