Bannon's War Room - Episode 4481： Trump Heads To Saudi

00:00:00.980 G perder mel� 0.70

00:00:03.980 Mercedes, wheel! 1.00

00:00:17.600 Off you speed

00:00:18.940 Stop! 1.00

00:00:20.340 No!

00:00:21.680 It's too easy to walk

00:00:25.180 No- uncomfort

00:00:26.780 No-mfully ever

00:00:28.180 Guys, we have finished this approaching task.

00:00:38.880 I will fit on my Koc Redring session. 0.88

00:00:42.980 This may be a trap.

00:00:44.980 We'll be right back.

00:01:14.980 We'll be right back.

00:01:44.980 We'll be right back.

00:02:14.980 We'll be right back.

00:02:44.980 We'll be right back.

00:03:14.980 We'll be right back.

00:03:44.960 We'll be right back.

00:04:14.980 We'll be right back.

00:04:44.960 We'll be right back.

00:05:15.820 Pray for our enemies.

00:05:17.820 Because we're going to medieval on these people.

00:05:21.080 Here's the time I got a free shot at all these networks lying about the people.

00:05:25.360 The people have had a belly full of it.

00:05:27.260 I know you don't like hearing that.

00:05:28.700 I know you try to do everything in the world to stop that, but you're not going to stop it.

00:05:31.400 It's going to happen.

00:05:32.440 And where do people like that go to share the big line, mega media.

00:05:37.000 I wish in my soul, I wish that any of these people had a conscience.

00:05:42.540 Ask yourself, what is my task and what is my purpose?

00:05:45.980 If that answer is to save my country, this country will be saved.

00:05:52.800 War Room, here's your host, Stephen K.

00:05:55.760 It's Tuesday, 13 May, Year of Our Lord, 2025.

00:06:04.780 Okay.

00:06:05.000 We're going to get into the geopolitics, talk about the pageantry, the businessmen, what the purpose of this.

00:06:11.280 The great Jim Rickards, as only he can explain to you, is up on deck.

00:06:15.640 You're going to join us momentarily.

00:06:16.780 I've got Dave Bratt to walk through.

00:06:18.800 Because this afternoon, the huge markups and three big committees, particularly about Medicaid and about taxes, are going to take place.

00:06:24.620 We're going to prep you for all of that.

00:06:27.920 But I want to start.

00:06:28.940 We're very lucky to have Andy Biggs for a few minutes here before he gets on other activities up on the Hill.

00:06:35.340 So, Congressman Biggs, here's the thing.

00:06:37.100 We're trying to break this whole thing down, the big, beautiful bill, both the cost side and the tax side.

00:06:44.100 But let's go to cost first, because you've clarified something to me I think is quite important, and I believe the audience understand this.

00:06:51.520 Senator Johnson's got an amazing piece in the Wall Street Journal, and we're trying to get Johnson on in Hawley, Hawley's piece about Medicaid.

00:06:59.140 But Johnson talks about, as we talk about on the show, the discretionary budget, you've got to get here, you can't get a debt ceiling increase and then blow through it.

00:07:07.680 And I keep saying, hey, we've got to get off talking about the 10 years.

00:07:10.320 But the 10-year does have a logic to it in that the guys talking about 10 years are talking about some of the mandatory cuts.

00:07:16.380 Walk me through right now your assessment, because the big, beautiful bill seems to me – it's kind of slapped together.

00:07:25.080 It's very hard to get your hands around.

00:07:26.760 I don't see a lot of cuts coming out of here.

00:07:29.380 I see a $2 trillion minimum deficit this fiscal year that ends on September 30th.

00:07:34.480 In the back of an envelope, we're at $2, $2.5 for next fiscal year, so the $4 trillion lift we get on the debt ceiling, I think we blow through before the 26th midterm.

00:07:46.300 Congressman Biggs, you've been the biggest deficit hawk in Congress.

00:07:50.320 Your thoughts, sir?

00:07:52.540 Yeah, you're exactly right, Steve.

00:07:54.220 So when you take – the big, beautiful bill is focusing on what we call mandatory spending, and that's a whole tranche of things that we can touch.

00:08:04.280 We can't really get into discretionary spending too much on that.

00:08:08.220 But you cannot touch Social Security.

00:08:10.740 Everybody says, oh, we're getting Social – no, you can't touch Social Security.

00:08:14.120 And this is all by rule, by the way, Steve.

00:08:15.940 This isn't law.

00:08:17.060 This is rule.

00:08:17.680 And so you have this mandatory side, and then you have the discretionary side.

00:08:21.700 And Ron – I love Ron, and I'm working with Ron.

00:08:25.340 We meet fairly regularly, talk about these things.

00:08:28.640 He's right, and I've been advocating too.

00:08:31.260 Get back to the pre-2019 levels.

00:08:33.200 Get back to the pre-2019 levels on the discretionary side.

00:08:37.680 You actually take a substantial chunk, and you bend the spending curve down.

00:08:42.080 On the other hand, you're talking about people that they don't want to cut the Green New Deal stuff. 0.68

00:08:49.840 So we're going to get only about 85 percent of Green New Deal cut.

00:08:53.360 That's on the mandatory side.

00:08:55.400 You're going to get these folks from these California, New York, Illinois, New Jersey, these high property tax states.

00:09:02.540 They want the rest of America to subsidize their high property tax as a deduction.

00:09:08.900 So they said now they're not going to vote for this because they didn't get a big enough deduction.

00:09:13.860 But that's a $250 billion hit over 10 years.

00:09:17.500 What's the big nut?

00:09:18.540 The big nut here, Steve, is that we'll be cutting less than 10 percent of our annual structural deficit of, as you say, $2.25 trillion.

00:09:28.180 You'll be cutting somewhere in the neighborhood of about $140 billion.

00:09:34.160 So your deficit will continue to grow and exist.

00:09:38.100 And the other part is, in 10 years from now, you'll be sitting at $60 trillion in national debt unless you do more than what's been proposed.

00:09:48.720 And at that $60 trillion, that doesn't include any kind of wildfires, catastrophes, hurricanes, flooding that will need supplementals.

00:10:00.060 It doesn't include any military action or wars that get in there.

00:10:03.960 It doesn't include spikes in interest rates.

00:10:06.880 And it also, a lot of people aren't talking about this, it also makes assumptions on the growth rate of the GDP.

00:10:12.700 So while we want to get this done, and we want it to be nice and big and beautiful, and there's some great things in this bill, and there's some nods in the right direction, you still end up in a very untenable situation 10 years from.

00:10:29.000 Look, I love Hawley and Johnson.

00:10:30.940 They're great guys.

00:10:31.820 But Hawley's the lone populace, and Johnson's like a former business guy, talks like an entrepreneur.

00:10:36.320 We love him.

00:10:37.280 But they're not exactly, and they would admit, they don't have a lot of stroke in the Senate.

00:10:40.840 But you, and you're leaving here shortly to go run for governor of Arizona, and you're like the leader of the deficit hawks.

00:10:49.660 This is like the last hurrah for Andy Biggs.

00:10:52.360 When are we going to start feeling that there's some organized effort here of smart people that understand this deficit?

00:10:58.420 Because, correct me if I'm wrong, the whole purpose, and this is Besson's plan, which he sold in the campaign.

00:11:04.480 He sold to make himself Secretary of Treasury.

00:11:06.320 It's Trump's plan.

00:11:07.020 It's brilliant.

00:11:07.440 Take the percentage deficit from 6.5% or 7%, which is not sustainable.

00:11:13.460 Take it down fairly rapidly to 3.5%, which we don't love, but he says you're never going to get to balance, but we can live with that.

00:11:20.040 I can finance that.

00:11:21.460 This program, and let's talk about the growth rates.

00:11:24.420 I don't see us even making a dent in that.

00:11:26.960 I still think we're back up north of 5%, 6% of percentage.

00:11:32.120 When you talk about real spending, not the gimmicks that are in there, you talk about that.

00:11:36.240 So this doesn't execute on the president's principal plan to get the country's finances in order.

00:11:42.620 Andy Biggs, your thoughts?

00:11:45.040 Yeah, I think that's right.

00:11:46.140 I think President Trump has really emphasized the tax plan.

00:11:50.560 So you've got the tax plan, but some of that needs to be paid for, right?

00:11:55.500 I mean, how do you pay for it?

00:11:58.400 Because some of it is a straight up—and by the way, I love the tax plan.

00:12:05.000 But some of it just—you're not actually—you've got to have some money to pay for it somehow.

00:12:11.320 And you should be using tradeoffs in other areas.

00:12:14.300 I mean, so last week, my understanding is last week we were going to vote on some bills that would codify the doge cuts, but we ended up not voting on them.

00:12:22.240 Now, why is that, Steve?

00:12:23.220 It's because we have people in this body that won't do it.

00:12:26.780 And so when we start talking about Medicaid, Medicaid's really important because you have two basic fundamental groups.

00:12:34.620 You have the original Medicaid, which is to take care of the disabled, the elderly, pregnant women and children, indigent children, right?

00:12:42.220 Then you have the Obamacare side of it, which was the expansion population, which is the able-bodied adults.

00:12:48.620 And then you have the matching rates that are very different.

00:12:50.760 You don't have work requirements.

00:12:52.640 This bill has very modest work requirements, 20 hours a week.

00:12:56.800 Come on, Steve.

00:12:57.520 I mean, that's just crazy to get all your medical care if you're an able-bodied adult.

00:13:04.620 There are some states that are reimbursing at Medicaid rates that are multiple times Medicare reimbursement rates.

00:13:11.660 Why are those different?

00:13:13.040 Well, the number one growing area is the Medicaid, and that is our biggest growing program and our biggest growing financial danger that we have.

00:13:24.160 So you've got a whole host of things.

00:13:26.920 Why are Republicans now who, when I first ran nine years ago, we were running on the notion of eliminating Obamacare, and now we're basically embracing Obamacare because of Medicaid.

00:13:40.420 Can you hang through the break?

00:13:43.300 I think we have you for a few more minutes after a break.

00:13:46.140 Okay.

00:13:46.840 Yeah.

00:13:47.620 I got Andy Biggs.

00:13:49.440 Jim Rickards.

00:13:50.560 Going to explain what's happening in the Gulf right now.

00:13:54.500 A lot going on.

00:13:56.200 Not just pageantry.

00:13:57.180 Also, President Trump's going to address these business leaders, and they're all over there kowtowing to it.

00:14:01.720 Larry Fink.

00:14:02.840 Schwartzman.

00:14:03.360 The whole pack.

00:14:04.420 Kat Smatidis.

00:14:05.100 It's quite a collection, right?

00:14:10.180 Bratz here with charts.

00:14:12.440 Bratz got charts.

00:14:15.920 I would say to Andy Biggs, I think it's because we don't have great jobs, and that's why there's a lot of MAGAs on Medicaid, but I agree. 0.98

00:14:22.800 An able-bodied semen, I'll be putting in, I don't know, 40, 60 hours.

00:14:28.240 If it's a month, they ought to just rack it up. 0.97

00:14:30.140 You can't get it.

00:14:30.700 If you're able-bodied, you've got to show that you've got work required minimum.

00:14:34.440 Anyway, we'll get to all of this.

00:14:36.540 The big, beautiful bill.

00:14:39.760 Got to have cuts.

00:14:41.020 We're going to ask Andy Biggs why the doge cuts have not been codified.

00:14:44.820 First of all, I want to know what the numbers are.

00:14:46.880 Number two, why didn't people step up and codify it?

00:14:49.180 In the War Room.

00:14:49.840 Short break.

00:14:52.000 I got American babe in America's heart. 0.63

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00:16:28.140 Here's your host, Stephen K. Bannon.

00:16:32.900 Andy Biggs is with us.

00:16:34.220 Jim Rickert is with us.

00:16:35.100 Dave Bratt with us.

00:16:36.060 Congressman Biggs, first off, when you go about pre-2019 or get to the pre-pandemic budget, with the revenues we got coming in, we could sort this thing out.

00:16:46.080 We would be back in something.

00:16:47.720 We'd go level set and make this, you know, get our arms around.

00:16:51.280 What is the problem with going back to the pre-pandemic numbers, sir?

00:16:56.140 All these constituencies that happen every time that the federal government spends money, they are fighting it.

00:17:04.780 And many of my colleagues get very nervous about that.

00:17:08.660 Now, I'm advocating.

00:17:11.320 I'm not touching the, you know, like traditional Medicaid population or even no benefits in Medicaid whatsoever because we're including inflation that's happened.

00:17:23.280 I mean, you've got to acknowledge that, but that doesn't mean that you can't take down, say, some other areas within the spending spree because if you take that down, that wipes out about $1.5 trillion just like that.

00:17:38.800 And then you have the additional things that are being proposed.

00:17:43.540 You have massive amounts of fraud and waste and duplication in every program, every program.

00:17:50.320 Okay, hang on.

00:17:50.800 Full stop.

00:17:51.480 Full stop.

00:17:52.140 Full stop.

00:17:53.080 I want to go back to Doge because this is my big problem with Elon when they came in because it was like a magic wand.

00:17:57.520 We're going to find a trade and we're going to find this.

00:17:59.680 Of the codification on the Doge cuts because I'm sitting there going Medicaid in the Defense Department.

00:18:04.020 Come on, man.

00:18:05.140 That's fraud central.

00:18:06.180 So let's go back.

00:18:07.420 You say they were going to codify the Doge cuts, and I don't want the programmatic cuts, but fraud, waste, and abuse, not USAID, not Department of Education.

00:18:18.480 We understand that, right?

00:18:20.200 That's coming programmatically.

00:18:21.760 But when you talk about waste, fraud, and abuse, the trillion dollars that you're supposed to find, how much have you seen actually because I keep asking and I don't get a firm number from anybody.

00:18:31.100 So when you say codification of Doge cuts last week, what were you trying to codify, USAID and the programmatic stuff out of education or actually like fraud from Medicaid?

00:18:42.220 It was going to be largely what you described as programmatic.

00:18:47.720 We're talking USAID, other programs that are duplicative, wasteful.

00:18:51.220 Okay, okay, full stop, full stop, full stop, full stop.

00:18:53.260 I got that.

00:18:54.060 I'm glad they sent the kids over and they were like a hammer.

00:18:56.640 But, you know, Eli Crane and MTG and Andy Biggs, you know, 23 in the frickin' middle of the summer at 2 o'clock in the morning, you guys are up there on the House floor arguing, you know, and trying to get these cuts.

00:19:09.860 This has all been identified.

00:19:10.980 I'm glad Elon came in as an auxiliary force to do it.

00:19:13.780 But that's something we knew about and something that's got to be done and must be done, but that's programmatic.

00:19:18.600 Why, this is my question, why have we not found actual fraud, not a trillion dollars, a couple of hundred billion dollars, where is that?

00:19:31.020 If they have found it, they haven't given me the receipts, okay?

00:19:35.500 That's my, that's, I'm where you are.

00:19:37.540 It's like, okay, I keep hearing these numbers, where are the receipts?

00:19:40.540 I've got to prove it because it isn't just about, if it's fraud, it isn't just about, Steve, cutting that wasteful spending out.

00:19:50.980 It's about prosecuting people.

00:19:53.560 So if you have, if you have people that have fraudulently sent in social security numbers, by the way, I can just tell you that under previous programs,

00:20:06.260 before, under Obama, for instance, you could go to the, these child tax credits, and you could actually find literally where hundreds and hundreds and thousands of illegal aliens were getting those benefits using loopholes in our law.

00:20:25.360 But they were fraudulent, and there were, there were accountants that actually, and this is what I mean when you get to the fraud, they were actually prosecuted for filing those false claims.

00:20:34.840 And that's, and that's, that's when I say, show me the receipts, because then I'll know how much is there.

00:20:43.880 I want to know who we're prosecuting or who we're investigating, at least who we're investigating.

00:20:50.240 And if we have that, then I, then I can, then I can get a number.

00:20:55.160 But right now I have no number.

00:20:57.320 Okay.

00:20:57.820 By the way, on the codification, I'd like to do that in the appropriations process anyway, but that's, I'll talk to you about that later.

00:21:02.480 I'm going to go to two things.

00:21:03.640 Number one, Medicaid.

00:21:04.840 We talk about expansion.

00:21:06.040 Here's the problem.

00:21:07.160 We've shipped all the great jobs over, so you get MAGA.

00:21:10.000 I mean, in Arizona, I think there's a ton of MAGA that are kind of working class, that the way they make it meet is they're using Medicaid to have babies and to meet medical.

00:21:21.000 Am I, am I, because Medicaid's not this urban, you know, legend anymore.

00:21:26.060 It's, it's, it's actually out there.

00:21:28.140 Isn't that the Medicaid expansion?

00:21:29.600 Don't we have to, isn't Josh Hawley right that we're going to have to deal with this?

00:21:33.280 And Biggs, you're the biggest deficit hawk I know.

00:21:36.440 So what's your, people will listen to you about your solution.

00:21:40.380 Yeah.

00:21:40.680 So here, here's the deal.

00:21:42.740 If you're working eligible, the expansion population, there's 100,000 people in the expansion population in Arizona.

00:21:50.600 100,000.

00:21:52.580 There's more than 2 million people in Arizona.

00:21:55.200 Now, Steve, we have a population of 7 million in Arizona.

00:21:57.500 There's more than 2 million people that are on what's called Medicaid.

00:22:02.220 We call it access in Arizona, whether it's expansion or it's a traditional.

00:22:05.480 We spend, from all sources, more than $20 billion a year.

00:22:10.980 And that means for every man, woman, and child in Arizona, we allocate essentially $3,000.

00:22:18.140 You are helping pay $3,000 for the 2 million plus on Medicaid in Arizona.

00:22:26.200 That's an interesting thing for me.

00:22:28.740 And the other thing is, there's, if folks were on the expansion population, and they're capable of working,

00:22:40.260 they're also capable of getting on the ACA's silver plan, the lowest plan.

00:22:45.840 And so they're not going to be without care.

00:22:50.060 The question is, how are you going to fund that care?

00:22:52.160 How are you going to pay for that care?

00:22:54.260 Well, the state can't do it.

00:22:56.620 The state?

00:22:57.060 You're going to be governor.

00:22:59.140 This is my point.

00:23:00.420 You're going to be governor.

00:23:01.740 Governor Biggs, what do you think?

00:23:04.820 Isn't this kind of the thing, hey, we want to dump it back to the states?

00:23:07.400 But the reality is, and these are, and I'm saying worker requirements should be tough.

00:23:11.740 There should be not one illegal alien on this.

00:23:13.640 I heard there's still that problem.

00:23:14.860 But how do you do it and make sure working class people got a shot here? 1.00

00:23:22.580 Well, you have to do a number of things, and not the least of which is refine the medical care.

00:23:30.940 Now, when we start talking about fraud in Medicaid, I'm going to tell you that we have found providers

00:23:36.860 that are defrauding the federal government in order to get higher reimbursements.

00:23:41.660 That's real.

00:23:43.280 And so you're going to have to do that in Arizona.

00:23:45.980 So you're going to have to basically do a doge on that in Arizona and actually prosecute.

00:23:50.420 You're going to actually get reimbursements and those types of things.

00:23:52.860 Well, this is why I want to see the doge.

00:23:54.120 I want to see the doge at the federal level.

00:23:55.960 Anyway, we'll get to the last thing because I know you've got to punch.

00:23:59.280 On the tax bill, look, I'm all for the upper bracket.

00:24:03.440 Somebody's got to pay this.

00:24:04.300 And not have carried interest is a slap in the face to working class people.

00:24:07.880 It's outrageous.

00:24:08.940 But the business cuts are not permanent.

00:24:11.820 They're just going to be with us for a couple of years.

00:24:13.480 Isn't it important to get – if we're going to do the advance write-offs of capital expenditures,

00:24:20.240 of R&D, which we want to particularly help entrepreneurs, don't we want to make those permanent?

00:24:24.900 They're just kind of thrown in there, and as soon as Trump's gone, they're gone, sir.

00:24:30.820 Yeah, you do want to make that – I mean because an entrepreneur will adjust to the field of play.

00:24:37.400 They always do.

00:24:39.000 But what you want to do is give them predictability.

00:24:41.760 If you don't give them predictability, they get skittish and they withhold capital investment.

00:24:47.000 And that's really what you're trying to do because capital investment creates jobs.

00:24:50.760 They expand the employment.

00:24:52.940 They expand the economy.

00:24:54.240 And so these are good provisions there.

00:24:58.240 They just need to be lengthened out.

00:25:00.100 But the problem is, Steve, somebody's got to pay for them.

00:25:03.460 So the other thing is when we start making the reductions like we're doing for middle class folks in multiple areas 0.89

00:25:10.840 and senior citizens and all that, there won't be capital investment because of that.

00:25:16.260 So you have to just say that's foregone investment.

00:25:20.420 That's not coming in.

00:25:21.380 But you have to – you're going to have to deal with that.

00:25:24.760 In Arizona, what's going to have to take place, Steve, is we're going to have to acknowledge that Arizona needs to open up its natural resources

00:25:34.640 because it's got incredible minerals, including critical minerals.

00:25:39.160 And if we can open those up, we can survive on the extraction fees that the same – that you see from places like Texas or North Dakota

00:25:48.780 where they had those fees for exploration and taking out oil and gas.

00:25:55.160 We can do the same in Arizona.

00:25:56.200 So Congressman Biggs, people are looking at you in the next couple of weeks, and it's going to be the grinder we're going to go through.

00:26:02.620 So what's your social media?

00:26:03.900 Where do people go?

00:26:04.640 We look forward to having you back.

00:26:06.720 You go to AZ – RepAndyBiggsAZ.

00:26:12.800 That's it.

00:26:13.640 RepAndyBiggsAZ.

00:26:14.540 Gotcha.

00:26:15.340 I never go there myself, Steve.

00:26:18.480 So that's it, man.

00:26:19.400 We need people – we need tons of people to go there because you're absolutely essential to this.

00:26:25.400 So we appreciate you, sir.

00:26:28.000 Thanks, Steve.

00:26:28.620 Take care, man.

00:26:30.380 Congressman Andy Biggs.

00:26:33.360 Congressman Biggs, capital investment leads to jobs.

00:26:38.240 President Trump is over there, and it's national security.

00:26:41.440 Normally, you always go over there.

00:26:42.460 We started the first trip.

00:26:43.280 It was all national security, right?

00:26:44.980 Now, this is all about capital investment leads to jobs.

00:26:50.540 The biggest players in the world are there with the Emiratis, the Saudis.

00:26:55.920 It's quite a group.

00:26:59.200 Jim Rickards, who's a specialist, understands this neighborhood perfectly, is going to join us here in a moment.

00:27:05.520 We're going to take a short commercial break.

00:27:06.520 Now, you need – since all the forecasts, except for the war room, have been wrong by all the mainstream media and the business press.

00:27:15.260 Remember, the sky's not falling.

00:27:17.640 Remember in mid-April?

00:27:18.740 It's the worst stock market in April in the history since 1929, 1932.

00:27:24.340 Wrong.

00:27:25.960 And we'll talk about that.

00:27:27.120 By the way, we're going to get our reshoring guy on.

00:27:29.620 If not this morning, and we can't do it this afternoon, and I'm going to have Eli Crane and Birkett, both, Birchett, in the 6 o'clock hour to talk about what's going on.

00:27:41.020 Capital investment leads to jobs.

00:27:43.220 That's why President Donald John Trump is getting the royal treatment in Saudi Arabia today, in Riyadh.

00:27:50.140 Jim Rickards is going to join us.

00:27:51.500 Birchgold.com, end of the dollar empire.

00:27:54.200 The Rio reset, July 6th.

00:27:56.140 This is the road to Rio every day to talk about what the BRICS nations.

00:28:00.280 Remember, she and Putin were like two high school kids, two 16-year-olds, on their first date last week in Moscow.

00:28:09.380 Guess where – guess who she's having as a guest today in Beijing? 0.88

00:28:13.800 If you said Lula Brazil, you would be right.

00:28:16.800 BRICS that, Bannon.

00:28:18.260 Okay, short break.

00:28:19.160 Jim Rickards on the other side.

00:28:20.320 There's something happening with our farmland here in the United States that isn't getting enough attention.

00:28:32.280 The Chinese have been buying up hundreds of thousands of acres of U.S. farmland. 0.99

00:28:37.940 They're also taking control over critical supply chains, things like fertilizer, animal feed, and farming equipment.

00:28:44.740 Why?

00:28:45.740 It's not clear.

00:28:46.620 They're tightening their grip on global food production.

00:28:50.800 That is clear.

00:28:52.620 And if things go south and it could happen quickly, we need to be ready.

00:28:58.140 That's why I trust MyPatriotSupply.

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00:29:37.320 That's four weeks of delicious meals that last up to 25 years, delivering 2,000-plus calories per day.

00:29:46.080 It's shipped fast, and it's shipped free.

00:29:48.540 We can't control what the Chinese Communist Party does. 0.85

00:29:51.200 You can't control what China does. 0.90

00:29:52.900 But we can control how prepared we are.

00:29:56.500 Go to MyPatriotSupply.com today to claim your 12 days of free food.

00:30:01.540 Shop MyPatriotSupply.com, MyPatriotSupply.com.

00:30:05.940 Do it today.

00:30:07.180 Do not let this thing get ahead of you.

00:30:09.960 Here's your host, Stephen K. Vann.

00:30:12.400 Okay, Jim, by the way, we may cut to President Trump as soon as he starts speaking at this conference, if it's streamed, or we go live.

00:30:23.560 Jim Rickards joins us.

00:30:24.700 Jim, I got a lot of questions after Biggs' discussion here, but I want to go back to capital investment leads to jobs.

00:30:33.020 Why is the president of the United States being feted like a royalty, even more so than it looks like a traditional president in the Middle East right now, in the kingdom of Saudi Arabia, sir?

00:30:45.660 Well, it's a two-way relationship, Steve.

00:30:48.060 Of course, they're feted, and if MSNBC wants to say they're second up to him, whatever, it's just a sign of respect.

00:30:53.900 I would leave it at that.

00:30:55.300 But it's a two-way relationship.

00:30:56.580 It's a good time to remember the petrodollar accord, which is still in place.

00:31:01.840 It was put in place in 1974, but it's still active today, and I was actually part of the team that put that together.

00:31:08.080 We had a carrot-and-stick approach.

00:31:10.240 So the carrot was Bill Simon, who was secretary of the Treasury, Jerry Parsky, and they went to the Saudis, and they said, look, everybody in the world needs oil.

00:31:19.080 So if you price oil in dollars, everybody needs dollars because they've got to buy the oil.

00:31:23.920 And that basically underpins the role of the dollars, the Global Reserve Council.

00:31:27.980 There's more to it, but that's the key thing.

00:31:29.800 And by the way, Saudis, when you get your dollars for the oil, deposit them in U.S. banks. 0.56

00:31:34.380 There was a tax council, the Citibank, actually.

00:31:38.540 And the banks will lend it to South America, and they'll buy our stuff.

00:31:41.220 We'll get the whole economy out of the ditch, which it was in 1974.

00:31:45.060 So that was the carrot.

00:31:46.300 But there was a stick.

00:31:47.700 And I worked with Helmut Sonnenfeld, who was the deputy national security advisor in the White House under Henry Kissinger.

00:31:52.960 And the stick was, if you don't do it, we're going to invade Saudi Arabia, not the whole place. 0.80

00:31:58.360 It's mostly sand, but the eastern provinces, take over the oil production.

00:32:01.820 We will produce as much as we want.

00:32:03.600 We will price it wherever we want.

00:32:05.500 We'll hold the money and trust for the Saudi people.

00:32:07.340 But basically, we're going to run the oil market combined with U.S. oil production.

00:32:10.500 Slow down. Slow down. 0.50

00:32:11.500 Hold, hold, hold.

00:32:12.140 Full stop.

00:32:12.780 Full stop.

00:32:13.440 This is, by the way, I'm going to have Ed Luce on later in the week about the new book, Zbig, about Dr. Brzezinski as the national security advisor.

00:32:21.020 It's amazing.

00:32:22.120 It's like Shakespearean for half of it between Kissinger and Brzezinski.

00:32:26.040 But hit me.

00:32:27.080 We threatened to do – when was this?

00:32:28.980 We threatened to do what, brother?

00:32:30.500 This was 1974.

00:32:32.480 So the carrot was priced in dollars.

00:32:35.040 Everybody needs oil.

00:32:35.960 Therefore, everybody needs dollars.

00:32:37.620 And we'll give you a security umbrella as well.

00:32:39.780 That was the carrot.

00:32:41.600 That was the approach.

00:32:42.240 That's what happened.

00:32:42.740 But hold it.

00:32:43.260 The stick was –

00:32:44.240 Hold it.

00:32:44.560 Rickards. 0.99

00:32:45.020 Rickards, we had just screwed these guys.

00:32:46.420 Hadn't we just gone off the gold standard and this is – the Arab oil embargo – all is because of this because they realized, hey, they're going to start paying us in – wait for it, fiat currency, sir?

00:32:57.680 Well, but that was – you're right, Steve.

00:32:59.300 That was 1971.

00:33:00.220 But that was exactly the point, which is, hey, if you're Saudis, why not just pump oil, dump the dollars and buy gold and put the gold in the vault? 0.99

00:33:07.480 How do you get the dollars in circulation?

00:33:09.160 It's not just about the quantity of dollars.

00:33:11.260 It's about the circulation of dollars.

00:33:13.120 And that was the key.

00:33:14.580 Everybody in the world was going to need dollars.

00:33:16.880 You couldn't buy oil and gold.

00:33:18.540 Now, that was a possibility, by the way.

00:33:20.200 The Saudis could have said, hey, give us gold and we'll sell you the oil.

00:33:23.060 They didn't.

00:33:23.920 They said, we'll sell you the oil for dollars.

00:33:25.900 And that was the petrodollar accord.

00:33:27.680 Now, by weight of gold, the dollar dropped 95 percent from 1971 to 1980.

00:33:34.020 Gold went from $35 an ounce to $800 an ounce.

00:33:37.140 So if you use gold as your yardstick, it was a 95 percent devaluation of the dollar.

00:33:41.740 And the moral of the story is have some gold.

00:33:43.880 But you also need oil and you also need dollars.

00:33:47.180 So we took the plan, basically, the invasion plan, and we leaked it to the Chicago Tribune.

00:33:53.180 And the Saudis read both sides of the equation. 0.70

00:33:56.080 They said, OK, we'll do the petrodollar accord.

00:33:58.120 But my point is it's still in place.

00:34:00.300 Now, we may be getting close to petrodollar 2.0.

00:34:03.940 And obviously, Scott Best.

00:34:05.200 But hang on.

00:34:06.420 Slow down.

00:34:06.980 I want to make sure.

00:34:07.580 I want to make sure.

00:34:08.280 Hang on.

00:34:08.940 Hang on.

00:34:09.320 I want to make sure Steve Bannon understands this.

00:34:11.280 You say it's in place.

00:34:13.460 But the Saudis cut an output deal with the Chinese to take it in, you know, to take the currency risk and figure it out.

00:34:21.040 The Persians did it with the Chinese, not the petrodollar. 0.83

00:34:24.340 The Saudis, correct me wrong, done a 40-year deal with them, not the petrodollar.

00:34:27.640 I think the UAE, our good buddies there, did one with Modi in India, our good buddy there, also not – I mean, away from the petrodollar.

00:34:36.780 Am I wrong there?

00:34:37.960 Haven't you always started seeing the cracks in the system?

00:34:41.240 Well, you're right.

00:34:42.280 But they are cracks.

00:34:43.600 But that's the point.

00:34:44.560 That's why it's time for petrodollar accord 2.0.

00:34:47.760 Let's get back to where we were.

00:34:49.620 And that's one of the reasons the president is in Saudi Arabia meeting with MBS.

00:34:54.240 So, yeah, but you're right, Steve, but the amount of Chinese yuan that the Saudis took for oil is minuscule relative to the overall market.

00:35:01.900 And they don't want the yuan.

00:35:02.840 What are you going to do with the yuan?

00:35:05.000 I mean, you know, buy some Chinese manufactured goods.

00:35:07.860 Finally, they don't even need that many.

00:35:09.400 But this is the Saudis' way and the Emirates' way of signaling the United States, hey, you know, you better get back to being our friend.

00:35:18.220 You better get back to giving us a security umbrella.

00:35:20.440 And you better get back to, you know, maintaining the value of the dollar.

00:35:23.180 And then we'll, you know, as I say, that's why I call it petrodollar 2.0.

00:35:27.200 It does need refreshment.

00:35:29.520 It was never a treaty, by the way.

00:35:30.780 It was a memo, which at least at the time was classified.

00:35:34.680 I don't think that's ever been revealed.

00:35:36.720 But you don't need a treaty.

00:35:37.900 You just need a firm handshake, and they can trust Trump.

00:35:40.540 But that's one of the reasons he's there.

00:35:42.600 And the idea that, oh, this is just a business trip or whatever, well, yeah, but it's all dollar-based.

00:35:47.080 That's the thing.

00:35:47.680 So the Saudis will still sell oil to the Chinese, but they'll tell the Chinese you have to pay in dollars.

00:35:53.740 That puts the pressure on the Chinese, because how do they get dollars?

00:35:57.740 They sell stuff to the United States.

00:35:59.500 What are the tariffs?

00:36:00.260 Well, they were 150 percent two days ago.

00:36:02.460 Maybe they're 30 percent for the next 90 days.

00:36:04.880 But this is all—this is a very complex game, and the Russians are involved.

00:36:07.920 But the U.S., by strengthening the relationship with Saudi Arabia, going to petrodollar 2.0, puts the pressure on China to basically reduce their tariffs and meet some of Trump's requirements.

00:36:20.060 Otherwise, they don't have a source of dollars.

00:36:24.400 The geopolitics here.

00:36:26.440 There's actual discussions behind the scenes in Turkey, I think in Istanbul on Thursday, that supposedly is a Zelensky potential Putin meeting.

00:36:34.800 Trump's kind of dropped it.

00:36:35.720 I know people are actually thinking this through, that Trump may actually go by, which would be historic.

00:36:40.760 Walk me through the geopolitics.

00:36:42.420 We've got the Larry Finks.

00:36:43.600 We've got the investments, and we'll come back to that in a second.

00:36:45.680 But the geopolitics all, you know, they had the pomp and circumstance of meeting the president.

00:36:51.720 You had the beast surrounded by the cavalry of the Saudi—rural Saudi army.

00:36:57.180 I also want to tell Mr. Hollins of Mr. Hollins' opus, I think there's a job opening this afternoon for a band leader in Saudi Arabia, probably looking for somebody from an American high school to go over and teach the guys.

00:37:09.800 Let's take another crack at that national anthem.

00:37:12.140 Good effort.

00:37:12.880 Know it's hot.

00:37:13.780 The instruments are hot, but got to do better.

00:37:15.780 What's the geopolitics of this, Rickards?

00:37:17.460 Well, basically, the meeting—you said supposedly a meeting.

00:37:23.400 Yeah, I think that's the right adjective.

00:37:26.600 Zelensky threw down this dare, well, I'll go to Istanbul, and Putin shows up.

00:37:31.300 Putin's not going to show up.

00:37:33.440 Now, if Putin shows up, Trump may go.

00:37:36.500 That's correct.

00:37:37.180 But Putin's not going to show up, because Putin—because what Zelensky wants is an unconditional ceasefire.

00:37:42.760 Show me a party—show me a case in the history of the world where the side that's winning the war, winning the war, which Russia is, agrees to an unconditional ceasefire.

00:37:52.560 Putin has made his terms clear.

00:37:53.940 Putin laid down terms before the special military operation in 2022.

00:37:57.820 He laid them down again, same terms, at a speech to the Russian foreign ministry last summer, summer 2024.

00:38:04.600 And he'll repeat them whenever you like.

00:38:07.860 De-Nazification, demilitarization, no NATO. 0.76

00:38:11.420 Russia takes the four provinces east of the Napa River, basically, plus Crimea.

00:38:16.860 And that's it.

00:38:18.360 That's basically the deal.

00:38:20.320 Trump could have that deal tomorrow.

00:38:22.660 Maybe Putin will throw in a couple of sweeteners just to save face. 0.79

00:38:25.520 But why should Putin agree to anything less?

00:38:27.660 And what strikes me is that the West, the collective West, so basically NATO and the United States, are very good at talking to each other.

00:38:34.600 You know, the other day, was it Starmer and Macron and Mertz, the German chancellor of Germany, met with Zelensky.

00:38:41.220 So what?

00:38:41.980 We're talking to each other.

00:38:42.900 Who's talking to Putin?

00:38:44.120 Who's talking to Lavrov?

00:38:45.580 Now, I know Wyckoff has been out there.

00:38:47.380 He's met with Putin.

00:38:48.340 That's very constructive.

00:38:49.820 But they cook up all these plans.

00:38:51.420 They leak them to the Financial Times and the New York Times.

00:38:54.480 They create a narrative.

00:38:55.300 It amounts to nothing because no one's addressing Putin's points.

00:38:59.320 Now, but here's the importance of it.

00:39:00.840 If we could end the war pretty much on Putin's terms, because he won the war. 0.73

00:39:05.040 That's the point.

00:39:05.980 You win the wars, you get to keep stuff.

00:39:07.640 But if we could get that behind us, then Russia is instrumental in helping with Iran.

00:39:12.640 Yeah.

00:39:12.760 And who wants – no one wants a war in Iran except, you know, Lindsey Graham and a few other warmongers. 0.89

00:39:18.840 But we could do a deal.

00:39:20.240 We had Frank on – we had Frank Gaffney on yesterday making the case for unilateral Israeli, which I love Frank, but the audience wasn't buying it.

00:39:27.880 It didn't make a lot of sense.

00:39:28.620 But that group that's meeting today, because this is the world's – you got Larry Fink, you got Schwartzman, you got every big, you know, swinging whatever from New York down there.

00:39:40.940 You got everybody from the Gulf Emirates.

00:39:42.620 They're talking about trillion dollars coming here, investments, which, look, as you know, I don't love these sovereign wealth funds putting money into the United States.

00:39:48.700 Companies are bad enough, but the foreign capital.

00:39:52.360 But President Trump's focus on a trillion dollars.

00:39:54.660 That group – and the Emiratis and the Saudis hate the Persians, but I don't see any group over there that has any interest even in thinking about or talking about the Israelis going to take a bombing run on the nuclear – on the sites that are working on this – on the nuclear program.

00:40:16.720 Do you, Jim Rickards?

00:40:19.140 I don't think that group expects that.

00:40:20.960 I agree with that.

00:40:21.660 Now, if you ask me, will the Israelis do it, when the Iranians get to the point where they have not just a nuclear device – you can blow something up. 0.99

00:40:29.380 That's a big deal, by the way.

00:40:30.560 But it's not just a nuclear device.

00:40:32.320 You have to weaponize it.

00:40:33.320 You got to get it on a warhead.

00:40:34.520 The missiles have to work, et cetera.

00:40:35.820 But when the Iranians get close to that point, the Israelis will attack Iran because it's existential. 0.91

00:40:42.740 It's – you know, they have no strategic depth.

00:40:44.860 You could basically wipe out all the Israelis and affect most of the Jews in the world if that happens. 0.99

00:40:50.720 And so they're not going to let it happen.

00:40:51.960 So the question is, how do you avoid that?

00:40:53.860 Well, you avoid it by getting the Iranians to agree to verifiably hold off on any further development of Iranian enrichment. 0.65

00:41:01.000 How do you do that?

00:41:01.940 You get the Russians involved. 0.68

00:41:03.280 And so – but that's where this whole thing falls down over Zelensky, who is – you know, people say, why does Putin kill Zelensky?

00:41:10.480 Why would you? 1.00

00:41:11.080 If you're in a war and your enemy is being run by an idiot, why would you kill him? 1.00

00:41:14.780 You want the idiot to be in charge. 1.00

00:41:17.200 But – and Trump is kind of maybe at the end of his rope with this whole thing. 1.00

00:41:22.040 But you have to basically settle the war on Russia's terms. 0.68

00:41:26.240 That's not a cave-in.

00:41:27.620 It doesn't make Trump a puppet.

00:41:29.180 None of that's true.

00:41:30.020 Read the history of Venice, 900 years of treaties, basically.

00:41:32.280 Okay, hang on.

00:41:32.960 Hang on.

00:41:33.460 Stop.

00:41:33.780 Hang on for a second.

00:41:34.580 Hang on for a second because they're going to be blowing us up on social media.

00:41:37.200 Rickard is just another running dog for Putin.

00:41:40.980 And this is all the Tucker Carlson, Kurt Mills, Steve Bannon, you know, love Russia crowd.

00:41:47.380 Make your justification.

00:41:48.320 Why is that not – why is that not just – why is that the president of the United States just kowtowing to the Russian demands, sir?

00:41:55.860 Two reasons.

00:41:56.560 Number one, Russia is winning the war. 0.51

00:41:58.800 They're going to win the war.

00:42:00.060 It's not over.

00:42:00.900 But they've decisively won the war.

00:42:03.880 Ukraine – Ukrainian armed forces are in full retreat.

00:42:06.900 They've been decimated.

00:42:08.460 Look, the Bradley fighting vehicles, the Leopard tanks, the Challenger tanks, the Abrams tanks.

00:42:13.560 They've all been left burning on the battlefield.

00:42:15.180 Why don't you hear about the F-16s flying around?

00:42:17.520 Because they get shot down by the S-400 Russian anti-missiles.

00:42:22.200 Was one Oreschnik – did you not get the message?

00:42:25.380 The Oreschnik missile has made tactical nuclear weapons obsolete because you can do just as much damage without the radiation.

00:42:32.080 Russia not only won the war, they're going to stop at the Dnieper River. 0.54

00:42:35.160 But there's nothing stopping them from going to the English Channel, basically, because NATO has shown that their weapons don't work.

00:42:40.480 It's not even a question of how many weapons you give them.

00:42:42.640 They don't work.

00:42:43.400 They're obsolete.

00:42:43.860 They're selling them stuff from scrap.

00:42:44.960 Also, we said this from day one when Zelensky's trying to get some security guarantee.

00:42:49.140 I kept hammering.

00:42:49.940 I go on British TV and say, yo, you guys combined are not going to be able to put up 25,000 or 30,000 combat troops.

00:42:57.040 And guess what?

00:42:57.700 Because they're talking 100,000, 50,000.

00:43:00.000 They finally passed the hat around.

00:43:02.000 They come up with the security force at most 25,000, which is a joke.

00:43:06.780 NATO is not real.

00:43:07.860 It's totally performative.

00:43:10.420 And when you talk about those three guys in the train and what they were doing with the little bag of, who knows?

00:43:16.200 That's another whole separate issue.

00:43:18.480 But Rick, can you stick around for one more block?

00:43:23.180 Sure.

00:43:23.460 We've got the great Dave Brat with us.

00:43:26.380 Brat's up in the bullpen.

00:43:27.400 He's got charts today.

00:43:29.860 Brat does, as he usually does.

00:43:31.360 John Solomon's on.

00:43:32.320 Tulsi Gabbard is giving an exclusive comment statement to John Solomon over just the news that is going to start setting things right about the domestic surveillance of United States citizens who they consider extremists.

00:43:47.300 Yes, that would be MAGA.

00:43:48.520 So we've got that all coming.

00:43:49.640 President Trump, if we get this business, I think it's not a lunch now.

00:43:54.380 I guess it's a dinner.

00:43:56.380 Only Rick gets to remember that Ritz-Carlton is where MBS put all the Saudi sheiks that have been shaking down people and not giving them a little something for the effort back to the royal family. 1.00

00:44:07.520 Short commercial break.

00:44:08.440 Back in a moment.

00:44:09.580 What if he had the brightest mind in the war room delivering critical financial research every month?

00:44:15.400 Steve Bannon here.

00:44:16.440 War Room listeners know Jim Rickards.

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00:45:20.800 Do it today.

00:45:21.380 Here's your host, Stephen K.

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00:45:45.080 Also, we're going to need you at the Ramparts.

00:45:48.520 Not today, because we've got to figure this out.

00:45:50.820 There's going to be a markup of ways and means.

00:45:52.380 On the tax side, there's going to be a markup over at Energy and Commerce, I think, on Medicaid.

00:45:56.540 We're all over this, but we're trying to figure this thing out.

00:45:58.700 So make sure that you're smart and weaponized when you get up on the Ramparts.

00:46:01.840 But what we don't need is you occupied by having a hard money lender, like either own your house or have a big old second mortgage loan,

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00:46:33.340 Pretty simple.

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00:46:35.460 Just go check it out.

00:46:36.360 All we ask you is just go check it out.

00:46:38.080 Talk to Natalie and Dominguez.

00:46:39.040 See if it makes sense for you.

00:46:39.980 You cannot be occupied.

00:46:41.020 That happens.

00:46:41.720 Your life changes, folks, because 90% of your net worth is tied up in that title for your real asset called your home.

00:46:48.940 Jim Rickerts.

00:46:52.360 Brother, thoughts.

00:46:53.600 There's so much going on.

00:46:54.780 Not a better time to have a guy like you around.

00:46:57.500 What are your thoughts of what's happening?

00:46:58.660 You mentioned Tulsi Gabbard, Steve.

00:47:01.920 She did something a few days ago that was momentous.

00:47:04.720 She declassified a document that was designed to identify and deal with domestic terrorism.

00:47:11.100 By the way, this document was created under the Biden administration.

00:47:13.500 I want to make that clear.

00:47:14.460 She declassified it.

00:47:15.640 By the way, I live in New Hampshire, and I became a Tulsi fan, and when she ran in 2020 for president, you get to meet all the candidates up in New Hampshire.

00:47:23.500 It's all retail.

00:47:24.480 She went surfing in New Hampshire on New Year's Day.

00:47:28.180 The water temperature was like 50 degrees in a dry suit.

00:47:30.660 So I said, that's bad.

00:47:31.800 So I am a big fan of Tulsi, and I did meet her and spend some time with her.

00:47:35.740 So she declassifies this document, and I have a lot of experience with classified documents.

00:47:40.140 They used like a black magic marker to cross out some of this stuff, but I could read right through it or just kind of see what it was.

00:47:46.780 It was classified secret.

00:47:48.000 It wasn't top secret, but it was secret.

00:47:50.360 No foreign, which means no foreigners don't share this intelligence with foreign intelligence services such as the Five Eyes.

00:47:56.800 So what was it?

00:47:57.480 It was a blueprint for dealing with domestic terrorism.

00:47:59.480 I'm like, okay, that's important.

00:48:01.260 I'll read that.

00:48:02.220 Who are they?

00:48:02.880 Well, MS-13, I know they're from El Salvador, but they're here. 0.98

00:48:06.420 Trendyra, Iragua, I know they're from Venezuela, but they're here.

00:48:08.980 ISIS, you know, Biden opened the border, let everybody in.

00:48:11.800 So these are all top organized domestic terrorists, not to mention Antifa and BLM.

00:48:19.060 So as I'm reading through it, it doesn't mention any of them, not one.

00:48:22.600 Who do they target?

00:48:23.660 You got to get to like page 20 in the fine print.

00:48:26.400 The military, enlisted military.

00:48:27.840 It didn't say, you know, convicted of or court-martialed or whatever.

00:48:30.560 Just enlisted military, government contractors.

00:48:33.000 That's probably 20 million people.

00:48:35.660 It talks about the need to enforce social cohesion.

00:48:38.660 Those are the exact words.

00:48:40.080 What is social cohesion?

00:48:41.200 Which means if you're MAGA, you're not socially cohesive in the eyes of Merrick Garland or Joe Biden.

00:48:47.520 And it talks about gun control.

00:48:49.420 You know, the Supreme Court's been pretty clear on Second Amendment.

00:48:52.320 So I'm like, okay, this is a document to basically mobilize, taking all of the government approach,

00:48:57.400 mobilize the FBI and the intelligence community and other resources to identify anyone who disagrees with the Biden administration.

00:49:05.440 And if you just happen to be in the military, moms protesting at school board meetings, parts of the Catholic Church.

00:49:12.880 I've been to Mass all over the world, 20 different languages.

00:49:15.780 But if you happen to go to a Latin Mass, which is popular, somehow that marks you down.

00:49:19.740 So this was despicable.

00:49:22.500 That's the best word for it.

00:49:23.260 But I applaud Tulsi for declassifying it, making it available.

00:49:26.700 And I think we're going to see more like that.

00:49:29.620 This is Jim, because Solomon's going to come on.

00:49:33.420 He broke and then they gave special access to him on this.

00:49:37.460 He's going to walk us all through this.

00:49:39.780 This is my point.

00:49:41.040 Where is the investigation on this thing?

00:49:42.800 I mean, this has got to be, we've got to get, you know, they're going to have this big book coming out by Jake Tapper and I think Tomlinson over at Axios.

00:49:51.320 Now, he was at Politico.

00:49:52.320 Or Thompson, the two guys that wrote this big expose, massive expose on Biden.

00:49:57.620 Today they dropped it.

00:49:58.720 You know, Biden, they were thinking about putting Biden in a wheelchair for the second term.

00:50:02.340 You saw him at the Vatican for the post thing.

00:50:04.260 I mean, he looks like he's 100 years old.

00:50:06.220 But why is there not, this should be such a public, massive outcry and such a huge investigation.

00:50:13.360 Where is it, Rickards?

00:50:15.560 Well, I mean, it's a good question.

00:50:17.020 You have a familiarity with the intelligence community, Steve.

00:50:19.680 The one thing they drill into you is we're not law enforcement, we're intelligence, you know.

00:50:23.520 So, okay, well, who is law enforcement?

00:50:25.760 Well, it's the FBI, Department of Justice, Pam Bonney now, and Kash Patel.

00:50:29.700 Now, they've got a pretty full plate.

00:50:31.240 I take the point.

00:50:32.880 But, yeah, somebody was behind it.

00:50:34.800 And when you have a 25-page single space.

00:50:37.620 Hang on, Jim.

00:50:38.340 They got a hell of a full plate.

00:50:39.800 I'm not talking.

00:50:40.460 But shouldn't this be a priority?

00:50:43.140 Look, it's hard.

00:50:44.680 You've got to go pretty deep in the woods to hit your tripwire to get you to say, hey, this is outrageous given your 40 years or 50 years experience in this.

00:50:53.320 And you've said it's one of the most outrageous, if not the most outrageous thing you've seen on domestic spying on American citizens.

00:50:59.800 Isn't this a priority to make sure this can never happen again and hold accountable those that did it?

00:51:05.100 Yes, this was a blueprint for mobilizing the intelligence community and the FBI, which is part of the intelligence community and law enforcement, to basically attack a large segment, maybe more than half of the American population.

00:51:17.540 Again, you've got to be a bit of a geek.

00:51:20.460 You've got to read all 25 pages.

00:51:21.820 But it's there.

00:51:23.000 So, you know, they use jargon.

00:51:24.900 They obscure it.

00:51:25.680 They have statutory references.

00:51:27.460 But, yeah, let's have a congressional hearing.

00:51:28.900 Let's find out who wrote it.

00:51:30.360 If it's declassified, then the person who wrote it doesn't have any particular protection.

00:51:34.400 Who put that together?

00:51:36.340 Who was behind it?

00:51:37.280 We sort of know it wasn't Biden.

00:51:39.600 I mean, Biden was president.

00:51:40.400 He's responsible.

00:51:41.760 But he was, you know, I don't know why everyone said, gee, we knew by 2024 that he wasn't all there.

00:51:46.280 I mean, what was the—in 2020, he was talking about—

00:51:49.020 It's the Praetorian Guard that put him in.

00:51:51.440 That's where Jim.

00:51:52.380 Where do people go to get to the strategic intelligence and the free offer of the book Money GPT?

00:51:58.120 Where do they go today?

00:51:59.500 Yeah, thank you, Steve.

00:52:00.200 We have our own landing page.

00:52:01.500 It's RickardsWarRoom.com.

00:52:03.880 That's RickardsWarRoom.com.

00:52:06.260 You go there.

00:52:07.060 You'll find we've got recordings.

00:52:08.540 We can subscribe to our flagship newsletter, Strategic Intelligence.

00:52:12.000 A lot of the issues that you and I discuss on War Room, we cover in great depth in our strategic intelligence publications.

00:52:19.600 So RickardsWarRoom.com.

00:52:20.960 This is something read by chairman and CEOs all over the world.

00:52:24.080 It's like the Financial Times.

00:52:25.160 You want to read with decision makers who are reading?

00:52:27.260 Get strategic intelligence.

00:52:28.660 Jim, I'm going to publicly now bug you to come back on later in the week because there's so much going on.

00:52:33.040 President Trump's historic four-day trip to the Middle East and maybe even topped off with a trip to Turkey.

00:52:39.200 Sit down with Putin.

00:52:40.000 Never know.

00:52:40.720 Jim Rickards.

00:52:41.300 Social media.

00:52:41.860 Where do they go to get you on social media, sir?

00:52:45.040 On X at Real Jim Rickards.

00:52:47.520 At Real Jim Rickards.

00:52:49.940 Love you, brother.

00:52:50.820 Thanks for taking time today.

00:52:52.340 Historic day in the Trump second term.

00:52:56.560 We got Dave Bratt.

00:52:57.600 John Solomon's going to be here.

00:52:58.960 Folks, this thing that Tulsi did and unleashed or put out for the people to see, it's got to be a priority.

00:53:06.140 This is, we cannot have a constitutional republic if you have the Praetorian Guard, the deep state that can do this.

00:53:13.860 Short commercial break.

00:53:15.020 Take you out with the right stuff.

00:53:16.020 John Solomon, Dave Bratt, next in the Word.

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Bannon's War Room - May 13, 2025

Episode 4481： Trump Heads To Saudi

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