Bannon's War Room - May 27, 2025


Episode 4514: Reports From South Korea; Shrinking The Fed Balance Sheet


Episode Stats

Length

55 minutes

Words per Minute

149.2282

Word Count

8,314

Sentence Count

681

Misogynist Sentences

2

Hate Speech Sentences

17


Summary

Russia continues to bombard Ukraine with missiles and drones. At least 30 civilians have been killed, and more than 150 have been injured. Meanwhile, Putin meets with Turkey's foreign minister at the Kremlin to try to find a diplomatic solution to the crisis.


Transcript

00:00:00.000 It
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00:00:28.000 Right now, Russia continued to launch missiles and drones throughout Ukraine yesterday,
00:00:38.440 marking the third day in a row of intense bombardment targeting civilian areas.
00:00:44.240 Ukraine's military reported another round of more than 350 drones and missiles
00:00:49.720 launched throughout the country.
00:00:51.340 In the past week, Ukraine says Russia has launched north of 1,300 drones and almost 100 missiles.
00:01:00.120 At least 30 civilians have been killed and more than 150 people have been injured.
00:01:07.480 And amid Russia's intensifying attacks on Ukraine,
00:01:11.020 the Kremlin is pushing back at President Trump's recent criticism of Vladimir Putin,
00:01:16.480 suggesting Trump is suffering from, quote, emotional overload that comes after Trump on Sunday
00:01:23.880 said Putin had gone, quote, absolutely crazy.
00:01:27.640 Speaking to reporters, Kremlin spokesman Dmitry Peskov thanked President Trump for
00:01:32.940 starting the negotiation process to end the war, while also suggesting the president was
00:01:38.480 emotional over the issue.
00:01:40.660 Peskov then went on to claim Russia's intense bombing campaign over the past three days
00:01:46.780 was retaliatory in nature.
00:01:50.220 Vladimir Putin met yesterday with Turkey's foreign minister at the Kremlin.
00:01:55.080 It's the same Turkish official who mediated the talks in Istanbul earlier this month between
00:02:00.360 Russian and Ukrainian officials.
00:02:03.220 Meanwhile, Germany's new chancellor said his country and Western allies,
00:02:07.580 including the U.K., France and United States, are no longer imposing range restrictions on
00:02:15.960 any weapons supplied to Ukraine.
00:02:19.460 From Bunker Hill to Bastogne to Cantonese to Coral Sea, from Gettysburg to Guadalcanal
00:02:27.460 and Concord to Kabul, America's best and America's bravest have fought, bled and died so that we could
00:02:35.960 pick up the torch of liberty, raise it high, high, high, high, and carry it onward to places they could
00:02:43.520 never have dreamed of before.
00:02:46.100 The sacrifice that they made was not merely for a single battle, a long-ago victory or a fleeting triumph
00:02:52.240 decades or centuries past.
00:02:55.600 Their sacrifice was for today, tomorrow, and every morning thereafter.
00:03:01.680 Every child that lives in peace, every home that is filled with joy and love, every day the Republic
00:03:08.540 stands is only possible because of those who did what had to be done when duty called,
00:03:15.860 and the cost was everything to them and to their families.
00:03:22.080 Our debt to them is eternal, and it does not diminish with time.
00:03:26.920 It only grows and grows and grows with each passing year.
00:03:32.240 The greatest monument to their courage is not carved in marble or cast in bronze.
00:03:37.840 It's all around us, an American nation, 325 million strong,
00:03:43.640 which will soon be greater than it has ever been before.
00:03:48.600 It will be.
00:03:49.380 So, Mika, Chancellor Merz's announcement that the range limits will be removed is significant
00:04:03.740 in terms of the damage that these missiles can do to Russian cities as far away as Moscow.
00:04:10.920 The German Taurus missile is reportedly able to reach 300 miles, which would allow it to hit Moscow.
00:04:20.220 The British Storm Shadow has got a range of 155 miles.
00:04:26.960 The Atakums missiles that the U.S. supplies can go 190 miles, but there have been limits on how much
00:04:34.200 of that range can be used, and the Russians have simply moved their key airfields and supply depots back out of range.
00:04:43.040 So this is a significant step to put targets that would be valuable to Russia within range of weapons
00:04:50.980 that Ukraine either has or is getting in large quantities like the German Taurus.
00:04:56.860 More generally, Mika, this moment right now is crunch time for Donald Trump on Ukraine and on Russia.
00:05:07.900 Vladimir Putin, in effect, has disrespected him directly.
00:05:11.740 I made a survey of all the statements that Trump has made since January, threatening sanctions,
00:05:18.840 warning Putin, telling Putin if he didn't come to the table, there'd be trouble.
00:05:23.460 And Putin has ignored every one of them.
00:05:25.780 He's refused the compromise proposals that Trump has suggested.
00:05:31.640 He's refused to cease fire.
00:05:33.740 So now Trump really is in the situation where he's going to have to exert some real pressure on Putin
00:05:40.740 to get these negotiations back on track or visibly give up as the Russians fire their ballistic missiles
00:05:49.540 and drones on key, which would be a very, very unattractive, I want to say humiliating situation for Trump.
00:05:57.140 But under the Trump administration, those days are over.
00:06:01.260 We're getting rid of the distractions, and we're focusing our military on its core mission,
00:06:06.920 crushing America's adversaries, killing America's enemies, and defending our great American flag like it has never been defended before.
00:06:17.780 The job of the U.S. Armed Forces is not to host drag shows to transform foreign cultures,
00:06:33.960 or to spread democracy to everybody around the world at the point of a gun.
00:06:40.880 The military's job is to dominate any foe and annihilate any threat to America anywhere, anytime, in any place.
00:06:49.260 A big part of that job is to be respected again, and you are, as of right now, respected more than any army anywhere in the world,
00:07:06.780 and that's happening, and I can tell you, you are respected like nobody can believe.
00:07:12.620 USA! USA! USA! USA! USA! USA!
00:07:29.940 USA! USA!va!
00:07:38.740 USA! USA! USA! USA! USA! USA! USA! USA! USA! USA! USA! USA! USA! USA!
00:07:39.780 This is the primal scream of a dying regime.
00:08:04.800 Pray for our enemies, because we're going medieval on these people.
00:08:10.800 I got a free shot at all these networks lying about the people.
00:08:15.800 The people have had a belly full of it.
00:08:17.800 I know you don't like hearing that.
00:08:18.800 I know you try to do everything in the world to stop that, but you're not going to stop it.
00:08:21.800 It's going to happen.
00:08:22.800 And where do people like that go to share the big line?
00:08:25.800 Mega Media.
00:08:27.800 I wish in my soul, I wish that any of these people had a conscience.
00:08:32.800 Ask yourself, what is my task and what is my purpose?
00:08:36.800 If that answer is to save my country, this country will be saved.
00:08:42.800 War Room.
00:08:44.800 Here's your host, Stephen K.
00:08:49.800 Tuesday, 27 May in the year of our Lord 2025.
00:08:56.800 It is Memorial Day week.
00:08:59.800 The House and the Senate are out back in their districts getting feedback on the big, beautiful bill.
00:09:05.800 A lot of updates on that later in the show.
00:09:08.800 Drudge, the Mac Daddy, over the last 24 hours has talked about the high likelihood that the kinetic part of the Third World War is actually going to metastasize.
00:09:18.800 And with the German decision to basically give authorization to the Ukrainians to start hitting using missiles that hit deeper into Russian territory.
00:09:27.800 It is very close to metastasizing, as we've warned President Trump, obviously, all over this in the last 24, 48 hours.
00:09:37.800 And through today, I'm sure we'll be hearing some announcements also what's happening in the Middle East.
00:09:43.800 I want to go first because at the same time, we talk about the Third World War, the kinetic part around the rim of the Eurasian landmass.
00:09:53.800 The continued exercises of the Chinese Communist Party, the People's Liberation Army and the People's Liberation Navy around Taiwan can't be looked at as exercises anymore.
00:10:03.800 It's obviously pre-planning and pre-exercises for an invasion.
00:10:08.800 I mean, there's no other way you can look at it.
00:10:10.800 And our great ally in South Korea that is right in the heart of all of it is under siege by the Chinese Communist Party.
00:10:18.800 That last clip in the cold open was just an incredible outpouring of love for the United States because a delegation went over there to monitor the election.
00:10:32.800 We have him here today.
00:10:34.800 Ambassador Tan, Colonel Grant Newsome, the great Marine Corps colonel, wrote an incredible book about when China attacks.
00:10:44.800 And, of course, our own Colonel John Mills.
00:10:47.800 Gentlemen, thank you so much for joining us as everything else in the world is on fire from Gaza to the Red Sea to particularly Ukraine and now around Taiwan.
00:10:59.800 Ambassador, let's start with you.
00:11:00.800 What is the current situation in South Korea with this very important election that is upon us, sir?
00:11:09.800 Yes, you have a gray zone war going on against the Korean democracy.
00:11:15.800 You have all sorts of ways in which cheating is being set up to happen, whether it's multiplying the votes from abroad, whether it's starting tomorrow, we'll see what happens.
00:11:31.800 But early voting starts tomorrow, and this is where they have cheated frequently in the past.
00:11:38.800 And one aspect of that is they're saying that you don't have to have a specific signature through a personal stamp of election monitor on the ballot.
00:11:54.800 All you need is a preprinted copy.
00:11:57.800 Well, that, of course, makes it much easier to cheat.
00:12:00.800 And so the steel is on.
00:12:03.800 And we are trying to be a deterrent, a voice and influence against that.
00:12:10.800 And we just had a major press conference over at the National Press Club today.
00:12:17.800 And we have a whole series of other meetings scheduled coming up as well.
00:12:22.800 But this is a place where China would like to take over.
00:12:26.800 The Chinese Communist Party would like to take over without firing the shot.
00:12:31.800 Before I go to the other guys, I want to continue.
00:12:34.800 Just talk to us about the Korean political establishment, particularly on the conservative side.
00:12:40.800 It has appeared to outsiders to be a tad disorganized and really not taking the fight to this kind of group of radicals that forced out the previous president and in a scene to somehow be aligned with the Chinese Communist Party.
00:12:59.800 Is that a misinterpretation of of ourselves and others in the United States are kind of confused how this could how could this develop into this race where it looks like the opposition is leading right now?
00:13:12.800 No, I think you're right on.
00:13:14.800 And even in the conservative people's power party, they are not standing up for election integrity.
00:13:21.800 And for whatever reasons, they are not in the fight along these lines.
00:13:28.800 Ambassador, can you hang on for a second?
00:13:33.800 We got Colonel Newsom, our expert on the Chinese Communist Party, and it's the People's Liberation Army and Navy in their plans, particularly around Taiwan.
00:13:43.800 Also, Colonel John Mills, they're there with Ambassador Tan leading a delegation to focus on election integrity.
00:13:49.800 And given what we just saw in Romania, given what's happening in Germany with Alternative for Deutschland, they're trying to suppress that party.
00:13:57.800 Given what's happened in France with Marie Le Pen getting four years in prison, what's happening in Brazil with Bolsonaro.
00:14:04.800 New report.
00:14:05.800 They've opened an investigation in Brazil on Eduardo.
00:14:09.800 Bolsonaro, for this very reason, talking about the stealing of the last election.
00:14:16.800 His father's already on trial.
00:14:18.800 As you know, they want to put him in prison.
00:14:20.800 Eduardo Bolsonaro will be with us this evening on the afternoon and evening show to discuss this.
00:14:25.800 What President Trump and what this audience, what we went through from Election Day in 2020 all the way through the election 2024, election integrity is top of the list in South Korea.
00:14:38.800 Our most vital ally is now under the gun.
00:14:42.800 Short commercial break.
00:14:43.800 We'll return to Seoul, South Korea in a moment.
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00:16:26.800 Here's your host, Stephen K. Bannon.
00:16:29.800 Okay, welcome back.
00:16:36.800 Let's go to Grant Newsham.
00:16:37.800 You're an expert on the Chinese Communist Party, particularly their attack plans to roll us up in a kinetic part of the Third World War.
00:16:44.800 It looks like they're subverting actually the government of South Korea and the people of South Korea with a pretty smart influence operation.
00:16:53.800 Am I wrong there?
00:16:54.800 No, you're not.
00:16:56.800 They're trying to win without fighting.
00:16:58.800 The idea is to capitalize on hardcore radicals in South Korea, to have them take every lever of power in the country and just move the country over to Korea,
00:17:11.800 over to North Korea, over to China, and away from the United States.
00:17:15.800 Most people don't want that to happen, but a hardcore group of committed radicals is within reach of really taking the country and moving it away from the U.S. to China.
00:17:27.800 So winning without fighting.
00:17:29.800 This – okay, if – and because the election is upon us, early voting starts tomorrow, we'll know the outcome in a couple of weeks.
00:17:37.800 I understand you guys are there to fight for election integrity, which we need to do because they will try to steal it.
00:17:41.800 But if you think about it, if we were to lose South Korea in this election and turn over to this group of radicals that are aligned with the Chinese Communist Party, and we know that at least a third of the people, I think, 25 percent to a third in Taiwan are open to CCP being a province and not an independent nation.
00:18:04.800 Maybe I'm a little high there, but I don't think I'm too high.
00:18:07.800 You then have two fifth columns.
00:18:10.800 Is this not the preamble to the Chinese Communist Party's assault on Taiwan?
00:18:17.800 I mean these exercises – I'd like to get your opinion.
00:18:19.800 I've been following them very closely.
00:18:21.800 Captain Fennell and others have been great in getting me information and others.
00:18:25.800 But these are – you can't say these are exercises anymore.
00:18:28.800 This is essentially – this is not just preplanning.
00:18:33.800 This is they're going through the exercise of actually the air and naval blockade and the air assault into Taiwan.
00:18:41.800 And so isn't the South Korean election coupled with the fifth column, the large fifth column in Taiwan, the preamble for their invasion, sir?
00:18:49.800 Yes, it is.
00:18:50.800 It gives the Chinese a lot of momentum if they can win this – have their proxies in South Korea win the election.
00:18:58.800 So it gives them a momentum.
00:19:00.800 And with Taiwan, they've used some of the similar tactics, particularly in South Korea.
00:19:06.800 The leftist control of the legislature really hamstrung the conservative president, the basically pro-Chinese KMT in Taiwan has done the same thing to the – really the pro-freedom president of Taiwan.
00:19:22.800 They made life miserable for him with their control of the legislature.
00:19:26.800 So if you can get South Korea, you've got a huge distraction up there.
00:19:31.800 You've got momentum.
00:19:32.800 You may get the Taiwanese even to roll over.
00:19:35.800 But as you said, Steve, what they're doing militarily around Taiwan is not just posturing.
00:19:41.800 If they want to pull the trigger, they can move anytime they want.
00:19:45.800 Yeah.
00:19:46.800 The exercises now are rehearsal, as the war room engine room reminds me.
00:19:51.800 It's a rehearsal for an invasion.
00:19:53.800 People have to – you have to see what you see here.
00:19:56.800 And I realize some of the folks say, hey, we can't get involved.
00:19:59.800 Well, you better be ready for your economy to drop 25 percent because all the advanced chip design and production is done there.
00:20:05.800 It will be a nuclear winter for the American economy if the Chinese Communist Party – forget the moral and the ethical and the standing with an ally and all that.
00:20:15.800 Put that aside.
00:20:16.800 Just look at the real politic of what's happening.
00:20:19.800 And I hate to add more bad news, but the last 72 hours have been an absolute fiasco in Japan in talking about their finances.
00:20:29.800 I mean the Japanese can't sell long-term bonds.
00:20:32.800 They announced today I think for the first time in 35 years they're not a creditor nation anymore.
00:20:38.800 They're in these trade discussions with the United States, and I can tell you they're talking about the trillion dollars of government securities they own and how that has to be part of a package.
00:20:47.800 So our great ally in Japan is in horrible financial shape and distracted.
00:20:51.800 In South Korea, you have Chinese Communist Party trying to steal an election.
00:20:55.800 In Taiwan, you have a fifth economy.
00:20:57.800 You already have – as you said, the election – the president and the executive branch is conservative, but the legislature is quite leftist.
00:21:04.800 The Chinese Communist Party, whether it's Japan, South Korea or Taiwan, has done an excellent job of infiltrating these.
00:21:11.800 So Colonel Mills, what do you guys intend to do?
00:21:14.800 Is this just – is this just symbolic or do you guys actually think you're going to have an impact here, particularly on election integrity?
00:21:21.800 I mean the reception you've gotten is extraordinary given the size of the force that we're sending over there.
00:21:29.800 It's been extraordinary.
00:21:30.800 So the Korean people obviously want this, but what type of impact are you guys going to try to have and what do you think you actually will have?
00:21:38.800 Well, Steve, this is political warfare.
00:21:42.800 This is information warfare.
00:21:44.800 First and foremost, we want to show the South Korean people America is paying attention.
00:21:49.800 This is huge and shows an impact.
00:21:52.800 We want to let them know we have a special relationship that's been forged in blood, fire and steel over the years and that we are paying attention and we care about what's going on.
00:22:04.800 The second thing is paying attention and here is election observers to give scrutiny and attention to the National Election Commission.
00:22:15.800 This is part of this international racket of election stealing that's been going on essentially since the 90s and the original writing of software for election machines in Serbia and Venezuela.
00:22:27.800 This is the fruit and the outcome of this international election racket and they've centralized the election.
00:22:34.800 So as opposed to the United States where it's all about the county here, there's almost nothing they can do.
00:22:40.800 Everything is centralized.
00:22:41.800 Everything is centralized.
00:22:42.800 They've already printed up the ballots with the pre-approved stamp of the precinct election officer and it's that Asian stamp they like to put on items but it's not even personalized to the name of that election officer.
00:22:58.800 It's crazy.
00:22:59.800 It's crazy.
00:23:00.800 They pre-printed the ballots with the approval stamp.
00:23:03.800 The thumbprints don't even work.
00:23:05.800 They don't match the thumbprint and they immediately purge the image of the thumbprints anyway.
00:23:11.800 It's all a charade as far as election integrity.
00:23:15.800 And they've already the early voting and the the overseas ballots just like they're playing with military ballots with us.
00:23:23.800 It's the overseas ballots that the numbers are extraordinary on precedent.
00:23:27.800 So that's the third thing.
00:23:28.800 And we also want to be a deterrence to the foreign influence operation, which is China.
00:23:34.800 One of the big questions, how did this is like Hong Kong 2.0.
00:23:38.800 And we asked them today, how did this happen with the Moon Jae-in signing the police agreement where you have Chinese, Chinese personnel over here acting as paramilitary police, just like in Hong Kong.
00:23:53.800 Unbelievable.
00:23:54.800 This is crazy.
00:23:55.800 The people are angry.
00:23:56.800 Stunning.
00:23:57.800 They're scared.
00:23:58.800 They want to fight.
00:23:59.800 But we don't want to wake up June 4th and then have a debate over who lost South Korea.
00:24:05.800 We need to pay attention to this now.
00:24:07.800 Now, so Ambassador Tan, here's what I don't get.
00:24:12.800 I understand Ukraine is a shooting war and it's actually – it looks like it's getting worse.
00:24:17.800 I understand in Gaza a disaster, the pushing of this thing of attacks into Persia.
00:24:24.800 Horrible.
00:24:25.800 The Red Sea.
00:24:26.800 And we do have a carrier battle group, carrier strike group that's going back to Norfolk right now.
00:24:31.800 So we only have one there currently.
00:24:34.800 However, on a scale from one to ten, one being Bannon's hair is just on fire on a new topic, ten being DEFCON 1.
00:24:41.800 How serious is the situation in all of East Asia but particularly focused on our great ally in South Korea, sir?
00:24:51.800 I would say it's a 7.5.
00:24:55.800 What we're seeing, it's like an anaconda slowly curling around and crushing its prey.
00:25:03.800 Because you have this rising tyranny of leftists that is going on because they have a supermajority in the National Assembly.
00:25:13.800 You have these North Korea study groups amongst the judiciary and they've been making some awfully bad decisions in the Constitutional Court and in the Supreme Court.
00:25:24.800 For example, in the removal of President Yoon, they are wrong on the facts.
00:25:28.800 They are wrong on the law.
00:25:30.800 And in fact, the martial law declaration itself was focused on awakening the Korean people to the election fraud that has been going on.
00:25:41.800 And so if they gain the presidency as well, they also have a lot of the schools, they have a lot of the media, they have the unions.
00:25:52.800 And so as they are marching through the institutions, they are strangling the country.
00:26:00.800 You've seen this playbook before, folks.
00:26:04.800 This is what you voted for to have President Trump take it apart here.
00:26:07.800 We've got Harvard, we've got so much more to get into today.
00:26:09.800 Ambassador Tan, we're going to be following this daily.
00:26:12.800 What is your social media?
00:26:13.800 How do people follow you, sir?
00:26:15.800 I'm on Facebook and that's the main social media that I post on.
00:26:22.800 And what's your handle there?
00:26:25.800 How do people get to you?
00:26:27.800 I think it's just my name, Morse Tan.
00:26:34.800 Okay, fine.
00:26:35.800 We will push that out.
00:26:37.800 Colonel Newsham, where do people get to you?
00:26:39.800 First of all, they get to your book, amazing book.
00:26:42.800 That'll make it tough to sleep at night after you read it.
00:26:44.800 But where do they go?
00:26:46.800 You can get the book on Amazon.
00:26:48.800 That's usually the easiest way.
00:26:50.800 You can find me at Twitter at NewshamGrant and www.grantnewsham.com.
00:26:59.800 You can find most of my work or at the Center for Security Policy website.
00:27:05.800 Perfect.
00:27:06.800 Colonel Mills.
00:27:08.800 Colonel Rhett John, Colonel R-E-T John on Substack, Colonel Rhett John 2 on X.
00:27:18.800 Gentlemen, thank you so much.
00:27:20.800 I look forward to coming back to you over the next couple of days.
00:27:22.800 Godspeed.
00:27:23.800 Thank you.
00:27:24.800 Thank you.
00:27:27.800 You see the playbook?
00:27:29.800 You see the playbook?
00:27:31.800 You see what they have come very close to the United States to do?
00:27:37.800 It's the same playbook.
00:27:39.800 It's the same playbook.
00:27:41.800 This is why President Trump, why do you think he's bashing these institutions?
00:27:46.800 Why do you think he's purging these institutions from law firms, to the government, to the administrative
00:27:52.800 state, to Harvard, to these universities?
00:27:55.800 We haven't made the assault on the deep state yet.
00:27:58.800 I know this audience is quite upset about it, and you should be.
00:28:02.800 We'll get into all of that.
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00:28:17.800 Just incredible.
00:28:18.800 Short commercial break.
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00:29:42.800 Do not let this thing get ahead of you.
00:29:45.800 Do it today.
00:29:47.800 Here's your host, Stephen K.
00:29:50.800 Mann.
00:29:53.800 Okay.
00:29:54.800 Birch Gold.
00:29:55.800 The Rio reset July 6th.
00:29:57.800 So there's a lot happening between now and July 6th.
00:29:59.800 A couple of massive elections working through the big, beautiful bill President Trump once had voted on by the Senate by July 4th.
00:30:05.800 So we're going to cover it all.
00:30:07.800 But make sure this is all free.
00:30:09.800 Make sure you understand about the dollars, the prime reserve, currency, debt, deficits, all of it.
00:30:14.800 We make it all understandable.
00:30:17.800 Birchgold.com, promo code Bannon.
00:30:20.800 Get it.
00:30:21.800 The seventh free installment, the Rio reset on the road to Rio where the BRICS nations are trying to get off the United States dollar.
00:30:29.800 That would have – that would be a tectonic plate shift as we say.
00:30:34.800 Mina Kim is one of the top influencers among the Korean people, particularly young people.
00:30:38.800 So, Mina – here's what I don't get.
00:30:40.800 I studied this pretty closely because I lived in and out of South Korea for years.
00:30:44.800 Loved the Korean people.
00:30:45.800 Had a lot of business partners over there.
00:30:47.800 Very entrepreneurial.
00:30:49.800 Very religious Christians, particularly the Baptist church.
00:30:53.800 Very big over there.
00:30:54.800 Big evangelical community in the Korean population.
00:30:57.800 I don't get it.
00:30:58.800 It seems to me a lot of this is driven by young people on the left.
00:31:02.800 And these young people seem even more radical in many respects than the leftists in the Europe, on the continent of Europe, and in the United States.
00:31:11.800 It seems like a lot of these are quite attracted to the dictatorship of the Chinese Communist Party and even North Korea.
00:31:18.800 Can you tell us what's going on?
00:31:20.800 Sure.
00:31:21.800 Young people in Korea are very heavily affected by the media and especially the social media.
00:31:27.800 And as you know, a lot of social media we use as young people are affected, influenced by Chinese Communist Party, like TikTok and other Instagram social media.
00:31:37.800 You would see Chinese characters pop up even though you don't watch, you refuse to watch something Chinese.
00:31:43.800 And that's what's happening in Korea.
00:31:45.800 So I would say right now in Korea there's a real mix of emotions.
00:31:50.800 Everything from deep concern to genuine hope.
00:31:53.800 And with the June 3 presidential election coming up, especially with the young people, we're at a major turning point.
00:32:00.800 And then the young people realize that the outcome will likely decide whether we continue down the road of freedom with the United States or shift towards more socialist China, pro-China direction.
00:32:12.800 And like you said, a lot of young people respond to that.
00:32:15.800 And that's because I think the Chinese culture has been flowing into Korea on the streets.
00:32:22.800 We see so many Chinese speaking people these days and we see so many Chinese restaurants.
00:32:27.800 And that's one of the tactics that Chinese people carry to subvert or infiltrate into one country.
00:32:34.800 They bring their food.
00:32:35.800 One of the famous food is the hot pot and there's something called a fruit sugar, sugar fruit, which they bring to Korean streets and they would pretty much influence the young generation to be addicted to Chinese food.
00:32:52.800 So I think that's one of the tactics that Chinese people use to subvert Korean young people to like them and like their policies.
00:33:00.800 Are you giving a warning, giving us a warning about TikTok?
00:33:07.800 Are there any restrictions on TikTok in South Korea?
00:33:10.800 Because we've talked about this whole thing, the deals on hold here right now.
00:33:13.800 In fact, the Chinese Communist Party's put it on hold.
00:33:15.800 But explain to our audience the power of TikTok in this situation, ma'am.
00:33:20.800 So, OK, so we do not have any anything against TikTok in Korea like in America.
00:33:26.800 Not a lot of politicians would raise awareness on this.
00:33:30.800 But in Korea, it's mostly Instagram that people use as their main social media platform.
00:33:36.800 And a lot of Instagram posts we have here has the Chinese character algorithm for some reason applied to it.
00:33:44.800 And Koreans, when we scroll down our screen, like cell phone screens, we would only see Chinese character pop up and see the video of Chinese people doing some serious weird things that would, you know, affect the Korean young people's mind.
00:34:00.800 And that's something that's a very concerning point.
00:34:05.800 And that's why we need that politician that could focus on banning the Chinese culture flowing into Korea like that through social media.
00:34:15.800 Has the conservative party over there just kind of given up?
00:34:19.800 I mean, I'm kind of shocked about the lack of urgency in trying to get a candidate and get in the streets and make your case.
00:34:27.800 Maybe I'm just missing it, but it seems quite different than the Korea, the South Korea I knew and loved so much.
00:34:33.800 I just don't see any energy.
00:34:34.800 I don't see any I don't see any urgency.
00:34:37.800 I don't see an understanding of the stakes here.
00:34:40.800 Am I off base in that?
00:34:42.800 Do I misunderstand this or is that reality?
00:34:45.800 No, you're getting it exactly right.
00:34:46.800 I think it's culturally because Korea has a Confucius culture where we'd like to obey older people or any kind of elites or politicians, what they would say we would just obey.
00:34:58.800 And that's just been our habit.
00:35:00.800 And Korea has a really relatively short history of freedom.
00:35:04.800 And our people, especially with the lack of the correct proper education, because people would not tell the correct history in the schools, in the public schools.
00:35:17.800 And our young people don't realize how precious the freedom is and how precious our friendship with America is that actually gave us this freedom.
00:35:28.800 So I think that's where it came from.
00:35:30.800 People are asleep right now.
00:35:32.800 And we're so used to being supported by the left government and a lot of young people.
00:35:38.800 Our housings were supported.
00:35:40.800 Our school tuition was supported.
00:35:42.800 And people are not trying to work hard anymore because they know that the government will help them someday.
00:35:48.800 And that's not true.
00:35:50.800 And looking at America with the President Trump getting elected in the recent American election, Korean people are slowly learning what happened in America for the past four or five years is actually happening in Korea as well.
00:36:05.800 And especially in Korea, it's a lot more serious because we're surrounded by so many hostile nations like China and North Korea.
00:36:13.800 Unbelievable.
00:36:14.800 Meena, where do people get you on social media?
00:36:18.800 You are leaving in the next couple of days, so we will be able to get you in Korea.
00:36:26.800 When do you leave?
00:36:28.800 It's going to be in two, three days.
00:36:31.800 So before the election, I would arrive in Korea.
00:36:33.800 Okay.
00:36:34.800 Thank you so much.
00:36:36.800 What's your social media?
00:36:38.800 Where do people?
00:36:39.800 Yeah.
00:36:40.800 Yes.
00:36:41.800 I'm more active on YouTube.
00:36:42.800 Meena Kim TV.
00:36:43.800 It's a U.S. political podcast in Korean and sometimes in English.
00:36:47.800 I do run an organization called Build Up Korea, which is like Turning Point USA of America.
00:36:53.800 And then also you can find me on real Meena Kim at Twitter.
00:36:58.800 Meena, so great to have you on.
00:37:01.800 We've got your back in this fight, so keep us in the loop, okay?
00:37:06.800 That means a lot to us.
00:37:07.800 Thank you so much, Steve.
00:37:09.800 Thank you, ma'am.
00:37:11.800 Folks, this is why we did all seven hours, eight hours at both West Point and at Arlington National Cemetery.
00:37:19.800 We're on the cusp.
00:37:20.800 We're already in the kinetic part of the Third World War.
00:37:22.800 If President Trump can't pull this off, I'm telling you folks, this is going to be so much worse than World War II.
00:37:29.800 And we're right on the cusp of it.
00:37:31.800 And it's on President Trump's shoulders as so much is to sort this mess out.
00:37:35.800 I want to go Dave Bratt is now we had a little technical problem.
00:37:38.800 Dave Bratt, in fact, we're having a slight technical problem here.
00:37:41.800 They thought I was too well-lit.
00:37:42.800 So they decided to go to another alternative.
00:37:46.800 You can't light me too.
00:37:48.800 Yeah, there we go.
00:37:49.800 Not that I need it.
00:37:51.800 Dave Bratt, we've got a very special guest.
00:37:54.800 I want you to do the introductions and jump into this.
00:37:56.800 I've been waiting for this one for a long time.
00:37:58.800 Yeah.
00:37:59.800 Yeah.
00:38:00.800 Very important news piece brought to a friend, a grassroots story here.
00:38:04.800 Doug DeGroote out in L.A. is like a dog with a bone.
00:38:08.800 He's like the war room posse.
00:38:10.800 He is the war room posse.
00:38:11.800 He's been fighting this one for years, bringing to attention, socializing the issue, finding the experts.
00:38:18.800 So he found our friend Brian Westbury at First Trust.
00:38:22.800 They manage, what, $250 billion.
00:38:24.800 And he's got one of the leading, you know, financial papers in the country.
00:38:29.800 So he knows his stuff.
00:38:31.800 And you, Steve, you've been all over this issue.
00:38:33.800 The Fed printing, you know, $8 trillion.
00:38:36.800 Now it turns out the Federal Reserve is paying interest on these bank reserves.
00:38:41.800 And it gets even worse.
00:38:43.800 Now the American people are funding those interest payments through the Treasury Department.
00:38:48.800 And so I'm not the expert.
00:38:50.800 And so I brought on Brian Westbury, a friend and just a great monetary authority for our country.
00:38:57.800 And this will save us potentially a trillion dollars in the budget over 10 years.
00:39:02.800 So Senator Ron John and House guys, here you go.
00:39:05.800 Brian, take it away.
00:39:07.800 Brian Westbury.
00:39:08.800 Hey, Dave.
00:39:09.800 How are you?
00:39:10.800 You know, we could talk about this for hours and still be a little bit confused.
00:39:16.800 The Fed loves us confused.
00:39:19.800 But the simple story is that back in 2008, the Fed used that subprime housing crisis to grow its balance sheet massively.
00:39:33.800 I've tried to figure out ways to say this.
00:39:36.800 They went from a $700 billion balance sheet to an $8 trillion balance sheet.
00:39:42.800 Another way to say it is that the Fed, you look at the bank size, it was 5% of GDP.
00:39:48.800 Hold it.
00:39:49.800 Hang on.
00:39:50.800 Hang on.
00:39:51.800 Hang on.
00:39:52.800 Hang on.
00:39:53.800 Whoa, whoa, whoa, whoa, whoa.
00:39:54.800 Slow down.
00:39:55.800 The balance sheet of the Federal Reserve on the day they walked into the Oval Office with Bush was $880 billion.
00:40:00.800 I thought the max, because you're going to make my head blow up here.
00:40:03.800 I thought the max they got to was $4.5 trillion.
00:40:06.800 When we took over in January 20th of 2017, inauguration day, it was $4.5 trillion.
00:40:13.800 Are you telling me they ran it up to $8 billion and they did quantitative tightening to take it down?
00:40:18.800 Or did they have other pockets they're hiding the cash, sir?
00:40:23.800 Oh, no.
00:40:24.800 They did it again.
00:40:25.800 So when Paulson and Bernanke walked into W's office, Oval Office, in 2008, they printed $4.5 trillion.
00:40:37.800 That's what they did after that, during the subprime crisis.
00:40:41.800 Then they used that, like, if you think of it, that strategy all over again during COVID, and they did another $4.5 trillion.
00:40:52.800 Yes.
00:40:53.800 And I always compare it to 2007.
00:40:56.800 By the way, after President Trump took a trillion dollars off when Yellen was Fed chair in 2019, and this is what President Trump's growth in 19 over 3% was against the headwind of shrinking the ballot sheet a trillion dollars.
00:41:17.800 Then you're saying they added it back in.
00:41:18.800 Okay, that gets the debate.
00:41:19.800 I got it.
00:41:20.800 Keep on.
00:41:21.800 I want to make sure I understand the math.
00:41:22.800 Yeah, they did it all over again.
00:41:24.800 So if you think about it, what quantitative easing is, and so we just described the size.
00:41:30.800 It's massive.
00:41:31.800 They increased the size of the Fed's balance sheet at the peak by over tenfold, ten times bigger.
00:41:40.800 In fact, if you take the Fed's balance sheet today, it's bigger than the top ten sovereign wealth funds in the world combined.
00:41:48.800 The Fed is by far the thousand-pound gorilla in the room.
00:41:53.800 And if you buy all these bonds and you print all of this money, how do you keep it from turning into inflation?
00:42:02.800 Now, we know it happened once, but how did they stop it under Bernanke from turning into inflation?
00:42:09.800 Well, what they did is they went in and they did three things.
00:42:13.800 They put massive new liquidity rules on banks.
00:42:18.800 They said, you have to hold this money we printed.
00:42:22.800 Don't lend it out.
00:42:23.800 Don't let it create inflation.
00:42:25.800 Then they raised capital requirements on banks to do the same thing.
00:42:30.800 And then the final thing, and this is what Dave was just talking about, they decided to pay banks to hold the money that they printed.
00:42:40.800 And so right now we're paying banks four and a half percent on over $5 trillion.
00:42:47.800 We're paying private banks $200 billion a year to hold all this cash that the Fed printed.
00:42:57.800 Because if they didn't pay them, it would turn into hyperinflation.
00:43:01.800 And so we've now created an absolute mess because the Fed's paying banks $200 billion.
00:43:10.800 They only earn about $100 billion on their bond portfolio, which means they're losing $100 billion a year.
00:43:19.800 And who pays for that?
00:43:21.800 The taxpayer.
00:43:22.800 And this is why if we stop this whole process and roll back the clock to 2007, we could save potentially $2 trillion over the next 10 years.
00:43:34.800 Okay.
00:43:35.800 Hang on one second.
00:43:37.800 We're going to dive down deeper after a short commercial break.
00:43:40.800 We rejoice when there's no more.
00:43:43.800 Let's take down the CCP.
00:43:47.800 There's something happening with our farmland here in the United States that isn't getting enough attention.
00:43:52.800 The Chinese have been buying up hundreds of thousands of acres of U.S. farmland.
00:43:58.800 They're also taking control over critical supply chains, things like fertilizer, animal feed, and farming equipment.
00:44:05.800 Why?
00:44:06.800 It's not clear.
00:44:07.800 They're tightening their grip on global food production.
00:44:11.800 That is clear.
00:44:13.800 And if things go south and it could happen quickly, we need to be ready.
00:44:18.800 That's why I trust MyPatriotSupply.
00:44:20.800 They're America's largest emergency preparedness company.
00:44:24.800 And right now, when you get their four-week emergency food supply, you'll get a free four 24-7 food kits.
00:44:32.800 An extra 12 days of food absolutely free.
00:44:35.800 Okay.
00:44:36.800 Full stop.
00:44:37.800 You're going to have to insert this, okay?
00:44:38.800 And right now, when you get their four-week emergency food supply, you'll get four free 72-hour food kits.
00:44:45.800 An extra 12 days of food absolutely free.
00:44:49.800 Let me repeat that.
00:44:50.800 You're going to get four free 72-hour food kits.
00:44:54.800 That's an extra 12 days of food, and it's absolutely free.
00:44:58.800 That's four weeks of delicious meals that last up to 25 years, delivering 2,000-plus calories per day.
00:45:06.800 It's shipped fast, and it's shipped free.
00:45:09.800 We can't control what the Chinese Communist Party does.
00:45:11.800 You can't control what China does.
00:45:13.800 But we can control how prepared we are.
00:45:16.800 Go to MyPatriotSupply.com today to claim your 12 days of free food.
00:45:21.800 Shop MyPatriotSupply.com, MyPatriotSupply.com.
00:45:26.800 Do it today.
00:45:27.800 Do not let this thing get ahead of you.
00:45:30.800 Here's your host, Stephen K.
00:45:34.800 If you like geopolitics and capital markets, Jim Rickards.
00:45:39.800 And Jim, I think he's going to be with us tomorrow, one of our top contributors, RickardsWarRoom.com.
00:45:45.800 That's the landing page.
00:45:46.800 You get access to strategic intelligence.
00:45:48.800 This is a C-suite read, as we say.
00:45:52.800 You get access to it, plus he does in a free book on artificial intelligence and money and currency.
00:45:57.800 We're going to get to Joe Allen and talk about AI being out of control officially now.
00:46:02.800 They even admit it.
00:46:04.800 Make sure you go.
00:46:05.800 RickardsWarRoom.com.
00:46:06.800 Check it out.
00:46:07.800 Capital markets, national security, intelligence, political economy, economics, all of it, and geopolitics.
00:46:15.800 RickardsWarRoom.com.
00:46:17.800 Strategic intelligence.
00:46:18.800 Read what the C-suites throughout the world read.
00:46:21.800 This is why we put forward the Birch Gold.
00:46:23.800 This is why we put forward the Financial Times.
00:46:25.800 We want you to read what the decisions makers in the world read.
00:46:28.800 We know you don't agree with it.
00:46:29.800 You shouldn't agree with it.
00:46:30.800 You shouldn't agree with it.
00:46:31.800 It's all a con from the globalists.
00:46:33.800 Okay, so if Powell, who was not my choice for Federal Reserve chair, one, I don't think we should have a Federal Reserve.
00:46:44.800 We should start with an audit.
00:46:45.800 Then we should start with an unwinding because it's always playing games.
00:46:49.800 Those two concentrations of wealth, concentrated wealth under Obama and then under Biden, the greatest ever in the history of this country, that's what progressive Democrats do when they're really at work.
00:46:59.800 So if Powell was here, Westbury, what would he say?
00:47:02.800 He'd say, hey, Westbury, you missed the point.
00:47:04.800 This is why we need to have this and we need to pay for it.
00:47:06.800 What would his response be and what's your answer to his response, sir?
00:47:12.800 Yeah, Steve, as far as I know, he's only been asked once.
00:47:17.800 See, you know, they control.
00:47:19.800 There's only 25 or 30 journalists allowed in the room to ask Powell questions.
00:47:25.800 But one time he left, he went to the Cato Institute, and they asked him, why do you need this?
00:47:32.800 Why don't you shrink the balance sheet back to where it was in 2007?
00:47:35.800 He goes, oh, no, the world is a really dangerous place.
00:47:39.800 And what I would say is that it's just like government all the time, right?
00:47:45.800 We get a problem.
00:47:46.800 Government comes in to try and fix it, and then they make the problem worse.
00:47:50.800 And if you compare the amount of losses today, so the Fed held interest rates at zero.
00:47:57.800 Everybody bought bonds.
00:47:58.800 Then when they raise rates, you lose money on your bond portfolio.
00:48:02.800 So the Fed has $1 trillion in losses.
00:48:05.800 Private banks have $600 billion in losses.
00:48:08.800 And the whole subprime crisis was only $0.4 trillion, $400 billion.
00:48:15.800 They've made the problem four times worse today than it was back in 2008.
00:48:21.800 And I would argue that the reason they've done this, or it kind of goes to Washington.
00:48:27.800 What does a bureaucrat want?
00:48:29.800 They want more power, more money, bigger staff, more control.
00:48:34.800 And that's exactly what the Fed's got.
00:48:36.800 In other words, don't let a crisis go to waste.
00:48:39.800 And so they've exploded the size of the Fed.
00:48:42.800 They've created more losses in the banking system as a result of this.
00:48:47.800 So I think his answer is actually terrible.
00:48:51.800 He doesn't understand the problems that they've created.
00:48:55.800 And then you have no journalists to cover it.
00:48:58.800 And so what happens is they keep getting away with it.
00:49:01.800 And let me just add one other quick point.
00:49:04.800 If we keep going down this road, we're heading for a national bank, not just a Federal Reserve that controls the money supply, but a single national bank.
00:49:18.800 And there are a lot of people, Elizabeth Warren is one of them, who have talked about a national bank.
00:49:24.800 Now, in the history of the U.S., we've talked about it many, many times, but we've never done it or it's never succeeded.
00:49:31.800 It would be a disaster.
00:49:33.800 And that's where you get the central bank, digital currency, all of that kind of stuff.
00:49:39.800 And so what I want to do is roll the Fed back to 2007 at least, maybe even go back to a gold standard.
00:49:48.800 That's the only way to stop them from doing this insane money printing.
00:49:54.800 You mentioned journalists, but you failed to mention the guys in the House and the Senate.
00:50:02.800 They're looking at the big, beautiful bill in the Senate.
00:50:04.800 You can make recommendations.
00:50:05.800 Why didn't the House take care of this?
00:50:06.800 Why didn't the guys, Warren Davidson and these guys, you've got some pretty good hawks over there that hate the Fed.
00:50:11.800 I mean, he's grilling Powell all the time.
00:50:13.800 I think he's done a pretty good job.
00:50:14.800 Why did the House allow this to go on and didn't shut this down immediately?
00:50:19.800 Yeah, there's only there's only a few members of the House or the Senate that understand monetary policy.
00:50:27.800 And I kind of go back to Ron Paul.
00:50:30.800 I mean, Ron Paul had this 15 years ago, 20 years ago.
00:50:34.800 And he but but everybody in Congress thinks he's crazy and they don't want to go against Powell.
00:50:40.800 But the Fed has a lot of political influence.
00:50:44.800 I was always I worked as the chief economist to the Joint Economic Committee of Congress.
00:50:50.800 Greenspan was the chairman then.
00:50:52.800 And there is no senator and no congressman that I knew that would really go up against him because they he would he would make them look foolish.
00:51:03.800 And that's I I I still don't get it.
00:51:06.800 I don't understand why.
00:51:07.800 But but here they have hundreds and hundreds and hundreds, maybe trillions of dollars that they could save the taxpayer and use to pay for the tax cuts.
00:51:18.800 Although these they're just continuing the Trump tax rates.
00:51:22.800 But they and they just let sit on the table.
00:51:25.800 They don't do anything about it.
00:51:27.800 Yeah.
00:51:28.800 Yeah.
00:51:29.800 Hey, real quick.
00:51:30.800 We got about a minute left in 30 seconds.
00:51:32.800 Number one, you you you alluded to the Treasury rule.
00:51:36.800 That's the piece where the American taxpayer gets on the hook.
00:51:39.800 Can you give us 30 seconds on that and then 30 seconds on why this is not transparent like it is in other countries?
00:51:45.800 Yeah, it should be transparent that in in Britain, for example, the United Kingdom, they did the same thing.
00:51:52.800 Quantitative easing.
00:51:53.800 All central banks did.
00:51:54.800 And they counted as part of the deficit here in the United States.
00:51:58.800 The Fed counts it as a get ready, a deferred asset.
00:52:03.800 Yeah.
00:52:04.800 A negative treasury.
00:52:05.800 Their their losses are a deferred asset that they promised to pay back in the future.
00:52:11.800 It's crazy.
00:52:13.800 And why is Treasury in the middle of this thing?
00:52:15.800 Westbury.
00:52:16.800 Yeah.
00:52:17.800 Yeah.
00:52:18.800 Treasury's in the middle of it because now they're part of monetary policy.
00:52:21.800 They have the they the the Treasury used to hold five billion in a checking account at the Fed.
00:52:27.800 They now hold 500 billion in a checking account at the Fed.
00:52:32.800 Wow.
00:52:33.800 The Treasury loves it.
00:52:34.800 They they they get a slush fund, basically.
00:52:38.800 Westbury, what's your social media?
00:52:41.800 We're gonna have you back, dude.
00:52:42.800 My head's already blowing up.
00:52:43.800 What what what's what's your social media?
00:52:46.800 Yeah.
00:52:47.800 So my last name is Westbury with no T.
00:52:50.800 I think they lost it at Ellis Island.
00:52:52.800 So it's at Westbury dot com.
00:52:54.800 That's Twitter.
00:52:55.800 Twitter.
00:52:56.800 Thank you, brother.
00:52:58.800 Look forward to having you back on.
00:53:00.800 Yep.
00:53:01.800 Right.
00:53:02.800 Is Japan a lesson?
00:53:04.800 Japan is in the process of crumbling as a financial superpower before our eyes.
00:53:11.800 Bond investors throughout the world are telling where there's Germany, the United States or Japan.
00:53:15.800 We we ain't financing the stuff long.
00:53:17.800 We don't trust you.
00:53:19.800 Yeah, we don't trust you.
00:53:21.800 Short break.
00:53:22.800 Second hour better than the first only in the war room.
00:53:29.800 There's a lot of talk about government debt.
00:53:31.800 But after four years of inflation, the real crisis is personal debt.
00:53:35.800 Seriously, you're working harder than ever.
00:53:38.800 And you're still drowning in credit card debt and overdue bills.
00:53:43.800 You need done with debt.
00:53:45.800 And here's why you need it.
00:53:46.800 The credit system is rigged to keep you trapped.
00:53:49.800 Done with debt has unique and frankly, brilliant escape strategies to help end your debt fast.
00:53:56.800 So you keep more of your hard earned money.
00:53:59.800 Done with debt doesn't try to sell you a loan and they don't try to sell you a bankruptcy.
00:54:04.800 They're tough negotiators that go one on one with your credit card and loan companies with one goal to drastically reduce your bills and eliminate interest and erase penalties.
00:54:15.800 Most clients end up with more money in their pocket month one and they don't stop until they break you free from debt permanently.
00:54:24.800 Look, take a couple of minutes and visit done with debt.com.
00:54:29.800 Talk with one of their strategists.
00:54:31.800 It's free.
00:54:32.800 But listen up.
00:54:33.800 Some of their solutions are time sensitive.
00:54:36.800 So you'll need to move quickly.
00:54:38.800 Go to done with debt.com.
00:54:40.800 That's done with debt.com.
00:54:41.800 Stop the anxiety.
00:54:43.800 Stop the angst.
00:54:44.800 Go to done with debt.com and do it today.
00:54:47.800 To provide American made natural supplements without all the artificial nonsense.
00:54:53.800 So unfortunately, as many of you know, a lot of these big corporate supplements will include things like preservatives, artificial ingredients and other additives that really aren't benefiting your health.
00:55:04.800 So that's why we created sacred human really trying to fill this gap of quality supplements.
00:55:09.800 And of course, the beef liver being our flagship products.
00:55:13.800 For those who don't know, beef liver is loaded with highly bioavailable ingredients such as vitamin A, B12, zinc, CoQ10, etc.
00:55:22.800 And because it is 100% grass fed and natural, your body is able to absorb these nutrients far better than taking any other synthetic multivitamin or any other synthetic vitamin in general.
00:55:35.800 So we have some other amazing products.
00:55:37.800 But if you'd like to check us out, you can go to sacredhumanhealth.com and cheers to your health.