Episode 4886： Phase One Of Unmasking The Never Trumpers; Are We Prepared For A Massive Conflict
Episode Stats
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Summary
Learn English with CNN's Chief Political Commentator John Berman. CNN's John Berman joins CNN's Jake Tapper to discuss the latest in the 2020 Democratic primary battle, and how CNN s own John Berman is fighting back in court against Democratic challenger Kamala Harris.
Transcript
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I want to go back through the three phases. Number one is 5 November. All that matters right now
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in places like Pennsylvania and in Michigan and in Wisconsin, Nevada, Arizona, Georgia,
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North Carolina, obviously other states, but these seven battleground states is to deliver
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something that takes us to where Ohio and Florida are today. We have to put this beyond
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their ability to steal it because don't think for a second by hiring Mark Elias and the gang of thugs
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around him that they don't look at phase two. They understand she can't. Kamala Harris, it's
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impossible for her to generate any enthusiasm. Number one, what she had to do was to focus on
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one thing and drive the narrative. Her politics of joy was too ill-defined. She didn't do it.
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So what did they do last week? They pivoted. Tonight falls on America. This is a fascist movement
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that the people that supported are equivalent to the American, the American German Bund in the 1930s.
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That is a bald faced lie and it's a dangerous lie. So number one, on November 5th, we have to crush
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them at the ballot box. And there's only one way to do that. The commercials aren't going to do it.
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Only thing that's going to do it is you're putting your shoulder to the wheel. The hard work of
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walking precincts, the hard work of working phone banks, the hard work of texting nonstop. And we
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have to put in superhuman efforts to support the Elon Musk of the world, to support the Charlie
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Kirks of the world, to support the other organizations that are out there doing this.
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Victory is at hand that you can see the collapse of this kind of phony campaign by Kamala Harris,
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the politics of joy, right? And she had nothing to back it up whatsoever. And you could see the
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beginning in the polls start to come our way. I'm very proud that the war room has had President Trump's
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back and particularly has been the platform for the grassroots movement to have their voice heard.
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And I said at that time that with the hard work of the get out the vote effort and the election
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integrity effort that we were on the cusp of having an incredible, incredible victory that could
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actually be a potential landslide. Now we come to the day and I'm finally out of being a political
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prisoner by the Merrick Garland, Kamala Harris, Nancy Pelosi regime. Okay. For standing up for my
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political beliefs against an illegitimate committee in the house that did not have a ranking member.
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It did not have minority counsel. I went to a federal prison for four months. Now, Nancy Pelosi
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and Kamala Harris and Merrick Garland thought they were going to do two things. Number one,
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they were going to shut down the war room and not have that as a voice for the grassroots movement
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of MAGA in this country. Number two, break me. Well, I think you can see today I'm far from broken. I've
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been empowered by my four months at Danbury federal prison. He thought they would shut down the war room
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and take our power away. The show is bigger and more powerful than it's ever been. And please,
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it's not a podcast. We take the live streaming television show every day in the radio show and
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we turn it into a podcast. So, uh, my brothers and sisters at CNN, when you say the podcast number is
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off slightly, right? It has it. We were the largest podcast, but we're streaming where we stream on
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television and we play on radio and online. And Nancy Pelosi thought a federal prison
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was going to break me. Well, it empowered me. It empowered me.
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I am more empowered today, more focused today, sharper today, in better shape today than I've
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ever been in my entire life. So Nancy Pelosi suck on that. Number two, and we're going to have
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hopefully Mike Davis and Boris Epstein and Bill McGinley, three of the prominent leaders in the
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legal effort to combat Mark Elias. They are signaling you right now, what they're going to do
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every day with you. See, Oh, we're going to delay. We can't count the vote for seven days. We
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got, we're going to take mail-in ballots five days later, every day after November, the evening of
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November 5th is going to be Stalingrad where Mark Elias is in court and they're going to do this to slow
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it down. If they can't, if they can't take it away from Trump, if they can't nullify it right there,
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they can't nullify it right there. They want to at least delegitimize his victory. Remember,
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Jamie Raskin is out there dovetailing off of Nancy Pelosi's interview in the Rolling Stone,
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where she says, I only have one purpose in my life. My purpose is to make sure that Donald Trump is never
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reelected president of the United States and he never sets foot into the white house again.
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And Jamie Raskin has been very upfront. If they take the house, even by a single
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vote, 218 to 217, what they will do is sit there and say that Trump is an insurrectionist that,
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hey, Bannon and Vardy went to prison. Trump's been indicted. He's an insurrectionist and he cannot,
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he cannot take the office of the presidency. All that's in front of us.
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The desperation of Kamala Harris and in her campaign is obvious. They went from the politics
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of joy and we were the first ones to call it to darkness and night falls on America and they
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pivoted hard. You know why? Her incoherent explanation for what the politics of joy is
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befuddled everybody. So she had to go back to the same playbook. Trump's a fascist. His followers
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are not deplorables. They're fascist, that they're a danger to the country. Well, you know who doesn't
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buy this? Working class people don't buy it. And particularly African-American and Hispanic men
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do not buy it. And I will tell you, if President Trump's grassroots forces combine as we can combine
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right now, you're going to see unbelievable numbers next Tuesday. However, the Democrats are not going
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to give up. They just hired Mark Elias and you only hire Mark Elias, who I think is the toughest
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election lawyer in the country. You only hire Mark Elias when you want to go to the mattresses.
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They understand they can't beat us at the ballot box. We're going to have a reprise of 2020,
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where they're going to try to do everything humanly possible to nullify and nullify Trump's election
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and delegitimize his second term. And I can tell you right now that the working class people in this
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country, the middle class people in this country that support Donald John Trump are not going to
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let that happen. Take out your number two pencil and write this down. This show has never been more
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powerful. The voices behind it have never been more powerful. The audience has never been more
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powerful. And we're going to deliver a knockout blow to your progressive insanity on 5 November.
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And then we're going to secure the deal after that. And number two,
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the four months in federal prison not only didn't break me, it empowered me.
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I am more energized and more focused than I've ever been in my entire life. And I can see clearly,
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just like in 2016 and in 2020, exactly what's going on here and what we have to do to defeat it.
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This is the primal scream of a dying regime. Pray for our enemies, because we're going medieval on
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these people. Here's the time I got a free shot at all these networks lying about the people. The
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people have had a belly full of it. I know you don't like hearing that. I know you've tried to do
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everything in the world to stop that, but you're not going to stop it. It's going to happen. And where do
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people like that go to share the big line? Mega media. I wish in my soul, I wish that any of these
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people had a conscience. Ask yourself, what is my task and what is my purpose? If that answer
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is to save my country, this country will be saved. War Room. Here's your host, Stephen K. Bannon.
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It's Wednesday, 29 October in the year of our Lord 2025. So it went 3am. I've got that on top of my
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getter account. I've had it there ever since the photo was taken. That's Mo Bannon greeting me at
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Danbury when I come through the wire on my first day out. Welcome to the war. Boy,
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that was pretty prescient, wasn't it? You guys did a pretty good job. Of course, on the 29th of
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September, the only thing I put out the entire time I was at Danbury because, you know, people
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would interview me, all that. I'm not going to do that. Don't have time for that crap. You got to be
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focused in, and I got to thank Seagal Chata and Grace and Mo and Boris and everybody that I was
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able to communicate with every day through our own coded language on the computer there. And you
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only get so much time on the computer and then you got to know other people because only a couple of
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computers for every cell block to get the word out. I sent on the 29th of September, I think it was,
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so it was a month before this. I think it was the 29th of September, and Raheem was nice enough to put
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it up at the National Pulse and it went viral after that. And I said, look, this race is over. If we execute,
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the strategy's set, you can tell the players are in place, early voting started, and the motivation
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of the grassroots is the highest I've ever seen. And we're going to win a sweeping victory
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across the board if we execute. But it's over for Kamala Harris. Remember how she pivoted from
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the politics of joy to the darkness falls on America? That was the beginning of their
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Trump's a fascist, Trump's an authoritarian, because I called, I said, they're in losing,
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they're going to try to create a narrative that President Trump's a fascist.
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And because of your hard work, because that's what populism is. Populism is where you put it
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back on the shoulders of the people and they respond. They use their agency, their agency.
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And if you take that from a year ago, and that was the, both the press conference I had at the,
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um, uh, at the Regency Hotel and then followed on where we did the, um, we did a show, right?
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you could say that today. It's a pretty good called shot, was a pretty good called shot.
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Because I know this audience and I know what working class and middle class people
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wanted and wanted to stop the illegitimate regime. Now, yesterday we had the oversight committee
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tell us that, um, the pardons and the executive orders, and look, the pardons are huge or inoperative,
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but the executive orders are actually bigger. It's a bigger part of the story. And the mainstream
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media is not covering that because they understand, as I said, when they stole the election in 2020,
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the liabilities alone and having government action on a government that was not legitimate
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is mind blowing. But here we know as executive orders, we're, uh, we're inoperative.
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And I said right there in that it's an illegitimate regime. And remember Nancy Pelosi and that entire
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crowd that put me in prison, put Peter Navar in prison, put the J6, all the heroes, the men and
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women of J6, put them in prison and some for, you know, 10 and 15 years. They all ran up and begged,
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crawled on their bellies and begged, including the staffs and the chief of staff that perjured herself,
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or excuse me, the chief counsel, the perjured herself in my case. We didn't bring it, make
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a big deal at the time because we knew the whole thing was rigged. We're not going to sit there and
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whine. Oh my gosh, it's so terrible. They're lying. Of course they're going to lie. They hate America.
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You want to know how much they hate America? Look what's happening in New York right now.
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And they're all getting on board. That's the new, their new politics is the phony politics of joy of
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dancing, skipping through a store with a tick tock on tick tock on the Chinese company part in the
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PLA's psyop platform. Look where they've come. They can't stop Trump. They can't stop the mega
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movement. Is everything happening right now? Perfect. No, it's not perfect. It's got some
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imperfections to it. We always have to continue to say, hey, maybe it's America first because the
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pressures around the White House are monumental. But next man up was pretty good. All the hosts
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that did it, everybody, I, you know, everybody to thank, to keep the show going and continue to
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have it as a powerhouse. Because why? It's the platform for your human agency. We put a lot on you
00:14:14.120
because you're what stands between the nation and the abyss.
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You've got President Trump's back in good times and bad.
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This is part of the Trump 28 phase one. Unmask the never Trumpers and they're out there. So great.
00:14:37.000
They're running to the mic. Tel Aviv Levin. Oh, they love Trump. Until he puts Qatar and Turkey
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in charge. They ain't loving on him now. The Constitution says. That's BS. There's four or
00:14:52.440
five different alternatives. All in due time. In the fullness of time, folks.
00:14:59.560
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Artificial intelligence. Oh, and Chris Lender is going to join us in a moment. The great author of
00:17:01.800
Lords of Easy Money, a seminal work, which we talk about a lot here. Artificial intelligence. Okay.
00:17:10.740
Let's just get some programming right here, folks. Tonight, so we're going to do the two shows,
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right? We are going to then come back at 10 p.m. tonight on Real America's Voice, the War Room,
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and we're going to go until whenever the Xi and Trump meeting, how long it takes. Let's say it's
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midnight one in the morning. I don't know, but there's a lot of, there's a lot coming out about
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this. Now, there are many, many big issues. Obviously, trade, soybeans, Taiwan, the defense
00:17:46.760
of Taiwan. The two should jump off the page. They have a knife to our throat. As much as we want to
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spin it and as Australia and the New Deal with them and playing footsie with Lula for the, you know,
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the heavy rare earths in Brazil. All of that's all great. That's sometime in the distance because
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the globalists allowed, the globalists allowed the processing, the heavy processing facility,
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I think it was in Ohio and other places in the other country, to be bought by the Chinese Communist
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Party basically during Obama's administration with Joe Biden, who we know now is in business or
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getting in business with the Chinese Communist Party. This is why, to me, it's treasonous activity.
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And with the, uh, the drug addicted, uh, sex addict, uh, son, um, that is all displayed in the
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laptop from hell of which we brought with Rudy Giuliani brought to the public's attention. I don't
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know, three weeks before the 2020, uh, election with Miranda Devine and Emma, Joe Morris and all
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these heroes at the New York post. And of course the intelligence apparatus who we have still not
00:18:52.260
indicted came out and lied and said, it's all Russian disinformation. So Mike Morello and those
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guys are still not perp walked yet. Brennan's in process, but we got to get everybody signed that
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letter should be perp walked, perp walked. So, um, so the rare earths are massive, right? The Chinese
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Communist Party has a, has a knife to our throat. Industrial production will stop in four to six
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weeks. This is, this is the facts. They'll stop in four to six weeks unless we get the magnets and
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other things associated with heavy rare earths, not just the dirt that is rare earths. As importantly,
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artificial intelligence, the chips called the Blackwell chip. And of course, uh, what is a Jensen
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Wong is an agent of influence for the Chinese Communist Party full stop. And he comes on and
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says, China Hawks. I just found out what that term meant. Lie. Uh, I didn't know. It's a badge of
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honor. Uh, it's really a badge of shame. Lie. He's the one in president Trump's year and he's trying
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to ship these Blackwell chips, the advanced chips to China. What did I say when I signed this
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proclamation last week about artificial intelligence? And we've warned everybody here,
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don't let corporate America lie to you. We don't have capitalism in this country. We're not a
00:20:18.680
capitalist country. We are a court. This is corporatism. This is state capitalism. This is
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just another version of what the Chinese Communist Party has. They're lying to you. These layoffs are
00:20:31.740
coming from artificial intelligence. They're not looking to get more productive. They're looking to
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get more efficient and get rid of the humans. And it's not a blue collar thing right now. It's going
00:20:41.660
to be a white collar thing. Administrative, managerial, tech at lower levels. So like we
00:20:47.900
haven't screwed this youngest generation enough. Let's screw them again and take that decade of
00:20:52.900
their twenties away from them when they actually get into the workforce. They start learning their
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craft. They have these tremendous experiences. As I said, when I signed the proclamation that we have
00:21:05.660
to have scientific and technical concurrence or agreement in the nation's population has to
00:21:12.140
understand what's going on, we have to put some guardrails up because you have these maniacs in
00:21:17.160
Silicon Valley and people like Jensen Wong that are driving this. And what did I say? We have
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everything in our hands to cripple the Chinese Communist Party and comes artificial intelligence
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for money and expertise and training and education and, wait for it, the chips.
00:21:38.180
So we can't hand our mortal enemy a gun. They got a knife to our throat. We can't give them a
00:21:43.140
bullet to put in the chamber to put the gun to our head. We've got a knife to our throat and a gun
00:21:47.420
pressed up against our temple. It's time to play smash mouth. And yes, I realize, oh, you can't,
00:21:55.080
a decouple Steve is not practical. You're right. It's not practical. You know what is also not
00:22:00.280
practical? Telling the British go screw themselves and going to war with them back in 1775. You think
00:22:07.140
the odds were long then? Yeah. The odds were quite long. Did they sit there and go, well, gosh,
00:22:13.500
I don't know. We can't decouple from the aristocracy. We can't decouple from the British East India Company.
00:22:20.640
We can't decouple from commons. We're Englishmen. We can't do that. One third of our nation agreed
00:22:27.420
with that. The Tories here, one third, the shape shifters, the fence sitters, hey, I'm going to see
00:22:32.860
who wins this. There's a hard bit in Patriots said, screw yourself, throw down. How about this?
00:22:40.060
Get on the receiving action. A little buckshot coming from Lexington Commons or standing at the bridge.
00:22:50.640
At Concord. It has to happen here now. They're the mortal enemy of the Chinese people.
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Lao Bajing, this is the Chinese Communist Party, most murderous dictatorship in mankind's history.
00:23:05.640
It's time. Wall Street stopped kowtowing to them. The corporatists in this nation stopped kowtowing to
00:23:10.900
them. The broligarchs in Silicon Valley stopped kowtowing to them because that's the pressure on Trump.
00:23:15.160
It's coming from the broligarchs. David Sachs and those guys, oh gosh, we got to, you know,
00:23:21.460
we're partners. We're going to do this together. We're going to bring the world to peace and
00:23:25.700
prosperity. They got a knife to our throat now and you give them the chips, put a bullet in the
00:23:32.520
chamber. These are not our allies. These are not our friends. They're not friends of the Chinese,
00:23:38.540
the people in China, Lao Bajing. They've killed, they've killed what, 250 million and they brag
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about it. They're not, they're not going to hide it. They brag about it. The cultural revolution,
00:23:51.080
the great leap forward, the collectivization of the Chinese peasants. They brag about it and that
00:23:55.800
ain't counting folks, 450 million, 450 million forced abortions, 80% about little Chinese girls,
00:24:07.200
female. Is that, the feminists outrage about that? Are they outside the Chinese embassy? No,
00:24:14.380
because all half of this, half of the undertaking of Antifa and this revolution going on in the United
00:24:19.540
States is underwritten by them. Subversion is their thing. But they ain't going to subvert here.
00:24:26.900
Let's play, I tell you, we've got Vanderhaid. Let's play a couple of minutes of it. It's about
00:24:30.200
seven minutes long. Let's go and play a couple of minutes of the AI jobs apocalypse. You ever heard
00:24:34.880
of that before? You ever heard of that? Let's go and play it. Target announcing cuts, slashing
00:24:40.180
thousands of corporate roles in their statements. Companies cited in part growing pressure
00:24:44.380
to operate more efficiently and to embrace the use of artificial intelligence. So Jim VandeHei,
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that brings us around to your piece with Mike Allen, looking at how an AI job apocalypse
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unfolds in front of us. And it does seem to be accelerating, especially yesterday with that
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news from Amazon, a 14,000 jobs cut, and then explicitly writing in their statement about the role
00:25:07.760
of AI in the cuts. Yeah, I think it's hard for viewers and readers to realize, to sort through all
00:25:14.000
the news and like really sees on what matters. I cannot stress to parents, to students, to anyone
00:25:21.560
who's in a job that could be imminently affected by AI, what a big deal this is. You have all of
00:25:29.260
these companies basically saying they're either laying off employees or that they're dramatically
00:25:34.640
slowing hiring over the next year because of automation and because of AI. At the same time,
00:25:42.560
you had this company, Mercor, a couple days ago raise money at a $10 billion valuation. It's a two-year-old
00:25:50.120
company started by and run by 22-year-olds who were college roommates and then dropped out not long
00:25:57.620
ago. What that company does, and the reason it got such a high valuation, is it basically pays doctors
00:26:04.340
and lawyers and lawyers and other professionals to train AI to basically do their job so that
00:26:11.900
companies can then do the work of humans using robots or using artificial intelligence. This is
00:26:18.420
unfolding very fast, and maybe it's not as bad as the naysayers say. There's no doubt I've not found a
00:26:25.440
single CEO that I have talked to in the last six months who's not told me privately that they are
00:26:31.400
dramatically slowing hiring or not backfilling jobs when people leave or considering layoffs
00:26:38.680
specifically because of AI. This should be the only topic that Congress is thinking about and talking
00:26:45.700
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00:27:33.100
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today. Birch gold. In times of turbulence, find out why it's a hedge. Okay. Christopher Leonard,
00:30:37.780
uh, you are a, um, kind of a hero to this audience for the Lords of Easy Money. One of the best books
00:30:43.880
that one should read if you want to understand economic populism and what it really means and
00:30:49.020
how the, how the system is stacked against you. Um, you're also, but you're, you're now shifting.
00:30:56.720
You're actually doing a book and you take years of research to do this. We talked to you about it
00:31:00.400
in Kansas city a little bit that, uh, when we were out there with the Hillsdale college, um,
00:31:05.880
to speak a while ago, it takes you years to, to, to study. You've got a great article piece up in,
00:31:12.820
um, up in Politico. I want to get to about how, Hey folks, wait a second. Or do we have the armaments
00:31:20.440
we think we have and why don't we have them? But you are spending a lot of time on artificial
00:31:26.240
intelligence and military use. Can you explain that? How important is artificial intelligence
00:31:31.160
right now in everything dealing with the conduct of war? Yeah. So as you know, as we talked about,
00:31:39.400
I'm writing a book about the defense industry that goes all the way back to 1932 and up through
00:31:44.400
today. And I'll tell you when, when I'm looking at artificial intelligence today in the military
00:31:50.500
realm, it reminds me a lot of, of the role that aircraft played in, in the early 1940s. What I'm
00:31:58.780
trying to say is that in the, in the early forties, aircraft was this revolutionary technology that was
00:32:05.020
changing the world. We're on the cutting edge of it. And military planners knew that aircraft were
00:32:10.400
going to play a role, an important role in fighting war, but they didn't know exactly how.
00:32:14.620
And that is in my mind all the time right now, as I'm out here at, um, you know, visiting with people,
00:32:21.000
interviewing people in industry, going to arms trade shows. What they know is that AI is an
00:32:26.640
extraordinarily powerful technology. It's already changing the face of war. As you've seen in Ukraine,
00:32:31.680
it has revolutionized how war is fought. And right now you've got a lot of upstart companies,
00:32:38.020
Anderil, Shield AI, Palantir, that are starting to harness this technology and use it. Everybody
00:32:43.260
knows it's going to be transformative. Everybody knows it's going to play a central role in the,
00:32:47.660
in the next conflicts should they come. But what's unclear is exactly how this is going to play out.
00:32:54.980
And, you know, what we saw with aviation technology is that once the shooting starts,
00:33:00.200
so to speak, uh, it gains a momentum of its own and, and the technology is going to get used,
00:33:05.800
however, it needs to be used to, to win a conflict once it starts. So I, I guess what I'd say is we
00:33:11.280
are at the early stages of this technology being unleashed in conflict, but everybody who's around
00:33:16.800
it knows that it's going to be transformative. I was, I was talking with a guy who runs a company
00:33:21.420
called Shield AI that is making these, these networks of autonomous drones. And I mean, it's,
00:33:29.680
it's shocking to talk to people like this. They're saying that the entire force structure that we
00:33:34.500
conceive of with battleships, with F-35 jets, it's not that it's totally obsolete, but it's going to be
00:33:41.860
completely changed when you have armies of autonomous self-directing drones, millions of drones
00:33:48.760
that can pilot themselves and kill the enemy that are going to be out on the battlefield. So
00:33:53.300
we know it's going to change everything, but it's at the early stages right now.
00:33:59.840
When you say early stages, let's talk about the defense of Taiwan. Since Taiwan's 90 miles off of
00:34:06.140
the coast of mainland China, uh, and you have the seventh fleet and kind of carrier battle groups.
00:34:12.020
Do you think carrier battle groups and carry strike groups are a relic of the past given this new drone
00:34:17.900
warfare? If you could send 10,000 drones to just hit a, uh, it'd be like kamikaze, right? Off Okinawa in
00:34:26.280
like 45. Are we prepared to fight, particularly fight at sea, uh, this new artificial intelligence
00:34:33.380
warfare? This is what I can say. And to be clear, like I am not a military analyst. I'm just talking to
00:34:40.440
people who are, um, it's, it's at this moment, it's too early to say that the battle carriers,
00:34:49.660
that these things are obsolete. What I can tell you for sure is that there is tremendous concern
00:34:55.900
inside the Pentagon, outside the Pentagon, that we're not equipped to handle a large scale conflict,
00:35:05.560
uh, in the Straits of Taiwan, for, for example. And, and, and here's what I mean by that. You know,
00:35:11.520
the article you mentioned that went up this week, uh, in Politico magazine is, is really about our
00:35:16.680
munitions. Because what, what we do know is that any conflict in the Straits of Taiwan will unfold
00:35:23.800
extremely rapidly, almost surely. And it's going to create tremendous demand for these very high-end
00:35:31.280
guided missiles, um, you know, mid-range missiles. And, and there was a, a war game that's really
00:35:38.580
important that was conducted by the Center for Strategic and International Studies, CSIS. It's this
00:35:44.580
old, uh, pretty well-established think tank in DC. And, and what this war game showed is that the United
00:35:50.520
States would run out of these very important munitions in a matter of weeks. And if, if there was a
00:35:57.220
full-scale conflict in Taiwan, and what's unclear to us is, is how quickly the Chinese themselves would
00:36:04.560
run out because they keep their missile stocks, um, under lock and key. It's hard to gauge the exact
00:36:10.780
numbers that they have. But as you know, they have tremendous industrial capacity in China. They have
00:36:17.740
the industrial capacity that was the equivalent of what the United States had in 1940 that allowed us
00:36:23.740
to win World War II. And so there's huge concern in the Pentagon that even if we were to have a conflict
00:36:32.200
on, on the terms as it now exists, like leave AI to the side for a second with short drone swarms and
00:36:39.480
all the rest, that we would run out of munitions in a matter of weeks. And, and these missiles that we
00:36:44.700
would run out of take years to build, are incredibly sophisticated with these guidance systems and all the
00:36:51.480
rest. These aren't artillery shells. And, you know, what I've been looking at is the supply chain the
00:36:57.800
United States has to produce these munitions. And again, I, I'm not trying to dodge a question here,
00:37:05.060
but the, the, you know, this is a question separate of AI and how that's going to change it with the
00:37:09.180
drone swarms. And I would describe that as a huge question mark. Yes. Hang on, hang on, hang on.
00:37:15.160
Hang on. I thought we were the greatest industrial power in the world. And every time I look around,
00:37:21.620
we're cutting some deal with the Ukraine. I mean, we're stealing the EU, excuse me, not us,
00:37:28.780
the EU with our wink and a nod, the EU is stealing the Russian people's assets for the first time.
00:37:35.880
It's one of the reasons gold's been on fire. They're stealing the $380 billion to pay,
00:37:41.720
basically give it to Ukraine to then Ukraine pay the United States for munitions. We're sending,
00:37:48.180
I think, patriots and, and fads and everything, you know, Aegis class cruisers to the Eastern Med to
00:37:55.220
defend Israel. When Netanyahu is trying to trump up this war with, with the Persians, we're sending
00:38:01.980
munitions everywhere. Is, is that in your calculus? Is that the reason, or is it just, we just don't have
00:38:08.020
the industrial capacity because we ship that industrial capacity over to China because they
00:38:13.500
had nothing. So is it that we're giving the world, you know, what is it? Palmer Lucky keeps saying,
00:38:19.660
we don't want to be the world's policeman. We want to be the world's gun shop. Would it be the gun shop?
00:38:24.060
You got to be able to produce the guns metaphorically. Are you saying we can't do that? Or are we already
00:38:28.740
given our top priority went to Ukraine and went to Israel, sir? Huge question. So much going on here.
00:38:37.560
Um, here, here's what I would say as we, as we do give away these munitions around the world at
00:38:45.680
this moment, I cannot overstate the level of alarm inside the Pentagon about our reserve of these
00:38:54.340
munitions. For example, you know, about the THAAD batteries that went over to Israel and, and many
00:39:02.260
THAAD interceptors were fired off to protect Israel against the attack from Iran.
00:39:06.740
Every one of those missiles is a tremendous, precious resource. Um, let me tell you this.
00:39:15.260
One of the people I interviewed for this article is an army colonel who worked for the joint chiefs
00:39:19.320
of staff, looking at our defense industrial base and looking at our ability to ramp up production,
00:39:25.780
to meet new needs, to, to keep our own supplies of these munitions in place and to even increase
00:39:31.600
our supply. And she was tremendously concerned. What I'm telling you now is that for the United
00:39:38.620
States itself, there is a wait time measured in years to get new interceptor missiles, to get new
00:39:46.440
mid range missiles, long range missiles, even the stuff we fire from drones, um, or helicopters like
00:39:52.300
the Hellfire missile, which was a bread and butter munition of the war on terror. There, there's a,
00:39:57.300
a two year wait for new Hellfire missiles right now. So what we have are these reserve stocks of
00:40:03.280
these munitions. And, and as they're used in combat around the world right now, we're, we're basically
00:40:09.460
burning down that those reserves we have as there's a tremendously long wait time for new reserves.
00:40:16.320
So what I would say is that we've, we've gotten into this position where our defense industrial base
00:40:23.640
is really scrambling to keep up with demand. There is not a giant Fort Knox of these munitions that we
00:40:33.280
can just draw from endlessly at this moment. And as I said, I mean, you're looking at war games right now
00:40:38.620
that say we would run out of missiles in a matter of weeks and in some munitions, maybe a month or two,
00:40:45.260
if there was a full scale conflict in Taiwan. So there really is a lot of concern that we don't
00:40:52.720
have the industrial capacity to produce what we need in the time we would need, uh, to get these
00:40:58.820
munitions out into the field. So when, when, uh, when Pearl Harbor was attacked, right, that was when
00:41:07.540
Churchill, I think late that night, he talked to, he talked to FDR and he said, when he went to bed,
00:41:13.300
it was the first time that he actually believed in his heart of hearts that they were going to
00:41:17.820
survive because the United States was in the war. And the reason was the arsenal of democracy,
00:41:23.920
which really was Detroit or coming out of Detroit, this massive ability to do mass production,
00:41:29.800
industrial scale mass production. Are, are, are you telling us in your research for your book,
00:41:35.700
you're coming to the conclusion. And by the way, I only got a minute. In fact,
00:41:38.980
I'll wait and give you some runway on the other side on this, that the Chinese communist party,
00:41:43.420
because wall street and the corporatist shipped and the private equity guys and the venture
00:41:48.400
capitalists, Sequoia capital, Goldman Sachs, all of them shipped our industrial capacity to, uh,
00:41:55.380
to, to mainland China, that we're no longer the arsenal of democracy. In fact, they're the,
00:42:01.480
are they, they are really the arsenal of totalitarianism, Christopher?
00:42:06.920
What I would say is in 1940, we were China. We were the world's manufacturing colossus. Uh,
00:42:15.300
you talk about Detroit. I just spent about a week in Burbank, California, where Lockheed aircraft began.
00:42:20.920
That was a manufacturing town where every other employee knew how to take apart and rebuild an
00:42:25.940
engine. Everybody knew the industrial arts intimately. And that's what created the war
00:42:32.620
machine of the 1940s. You look at the United States in 2025, we have de-industrialized over decades,
00:42:40.220
uh, really diligently de-industrialized, worked really hard to move that capacity overseas.
00:42:45.240
And now we are, we're reaping the impact of that. And, and it's, it's not to say the game is over,
00:42:54.240
but we are not what we were in 1940. There's no question about that. And the industry is struggling
00:43:00.680
to keep up. Christopher, just hang here for one second. Short commercial break. Christopher
00:43:05.780
Leonard on the other side. Okay. Let's be honest. You never thought it would get this far. Maybe
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title. Hometitlelock.com. Promo code Steve. Talk to Natalie Dominguez and the team today.
00:45:21.140
Christopher Leonard. And Leonard, here's why the audience loves you. I will rant and rave and try
00:45:26.340
to bait you and you just come back. Well, Steve, let's just look at the facts, okay? It's so great.
00:45:31.680
That's why Lord's Easy Money is so powerful. And I know this book on the defense industry is going
00:45:35.320
to be incredible. Talk to me though about, let's go rare earths first and then artificial intelligence
00:45:40.480
because one leads the other. The heavy rare earths, I keep saying it's a knife to the throat
00:45:45.140
of President Trump as he tries to negotiate because they understand they get shut the production lines
00:45:50.520
down, the industrial production lines down in four to six weeks. Your thoughts on that?
00:45:55.120
Um, critically important issue. And it's, it's really just another facet of what we've been
00:46:01.980
talking about, which is, you know, military power is intimately intertwined with the power
00:46:08.180
of industrial production. And, you know, industrial production goes all the way from, from the factory
00:46:14.440
floor with, with well-trained, um, factory workers. And by the way, I've, I've got to say these folks who
00:46:21.160
work in these factories are highly, highly skilled, incredibly well-trained, uh, people. You know,
00:46:27.340
we think of a factory as, as punching out metal parts, but these folks are working with micro
00:46:31.580
circuit boards and all the rest. But that work traces all the way around the world back to rare
00:46:36.880
earth mines. And this is all part of the supply chain. What's, what's so interesting is how there's
00:46:43.620
a great article in the wall street journal last week about how the United States essentially traded
00:46:50.000
away its, its, its capacity to mine rare earth minerals. We, we sort of got that business off
00:46:55.880
the board, uh, because it seemed like, you know, less profitable. And we sort of left that, uh, work
00:47:01.260
to China, which, which really aggressively moved into that space with state run enterprises with,
00:47:08.640
with a strategic goal that, that we're seeing play out now. I mean, China's move to, to license the use
00:47:17.500
of rare earths, which essentially kind of unilaterally takes control over who can and cannot use these,
00:47:23.920
uh, processed rare earths is just a tremendous leveraging of, of the power they've developed
00:47:31.160
by developing this industry. So, so what does that mean for us? I mean, as you know, it's,
00:47:35.860
it's very well reported. These, these minerals are used in very specific niche components,
00:47:44.520
uh, like special magnets that are in fighter jets, missiles, of course, consumer products like cars,
00:47:52.240
but for our concerns, they're just vital components of, uh, of, of all, almost all military hardware,
00:47:59.840
very advanced military hardware. And I, I mean, I will tell you, it's, it's not like the defense
00:48:04.940
companies or the Pentagon are just sitting back passively. Uh, I was over in the United Arab
00:48:11.420
Emirates earlier this year and, and an executive for Lockheed Martin was talking about the, the very,
00:48:18.080
uh, assertive actions they're taking to try to source these minerals from around the world.
00:48:23.040
They're trying to stockpile reserves of these minerals and the components made from these minerals.
00:48:28.440
So it's not like they're just passively sitting back and letting China control it, but it is such
00:48:34.100
an uphill battle. China produces roughly 90% of all these rare earth minerals. So what that leaves is
00:48:41.500
these defense companies and others, you know, scrambling to work around the edges in that other
00:48:46.380
10% of the market or cut deals with China to, to continue to have access to this. And, and I just
00:48:52.440
think there's no doubt about it, that it it's highlighting a tremendous point of vulnerability
00:48:58.100
in these global supply chains that kind of echoes back to those moments of the COVID lockdown where
00:49:04.020
we found we could no longer make a simple equipment like, like face masks. And so this is another
00:49:10.780
point of vulnerability in, in the sort of global supply chain that we've been relying on
00:49:17.300
for decades to produce the defense materials we need. But where we have the commanding heights
00:49:24.140
is in chip advanced chip design and chip production, particularly with our allies in, um, in Taiwan.
00:49:31.400
That's why these negotiations are so important, particularly about the Blackwell chip and others.
00:49:36.960
Uh, and you just mentioned that warfare is changing, right? To the, to the massive armies or massive
00:49:42.820
fleets of these self autonomous, or autonomous drones. Where do you, where do we stand right now?
00:49:49.720
Where, how big a stake is it? How high are the stakes about the entire negotiations on chips?
00:49:57.940
Stakes are enormous. As you know, uh, these chips are, are the backbone of, of the future of military power.
00:50:06.620
I really do think that that's fair to say. Um, as you, uh, the, the chips have become a, a, a bargaining chip, uh, not, not to use that kind of cliche, but as you know, you know, when we sell weapons around the world, and, and by the way, the United States is the world's largest exporter of sophisticated weaponry.
00:50:28.520
We control 40% of the global market. This isn't a market like automobiles or televisions. Every, every weapon sold, it's sort of like the, the currency of geopolitics.
00:50:40.200
You give this important technology to your allies, you withhold it from your opponents.
00:50:45.800
These chips, the Nvidia chips, the, the chips that apparently Trump is going to be talking about with Xi, the, these are the foundation.
00:50:55.800
These are the backbone of the future of military power. And as you can see, you know, when Trump was over in, in the Middle East, um, he, he made a deal to export some of these chips to our close ally, the United Arab Emirates.
00:51:09.240
There are, they are rapidly building enormous infrastructure in the United Arab Emirates and Saudi Arabia, uh, a backbone of compute power based on these chips.
00:51:20.520
So this is sort of the race for, um, establishing the foundational power of AI in the future and the stakes of who does and who doesn't get these chips. It's just enormous.
00:51:31.820
Christopher, where do people go, uh, to get your writings? The political story is amazing. We're going to push it out. We did it the other day. We're going to push it again. Where do folks go to keep up, uh, with all your research and thoughts?
00:51:41.440
Uh, all my articles are Christopher Leonard dot biz. I'll be putting that Politico article up there today, hopefully soon. And I'm see Leonard news on Twitter.
00:51:52.080
Christopher Leonard, uh, a steady, a steady Eddie, a safe pair of hands, the Lords of easy money and new research coming out about the defense industry. Uh, Christopher, thank you so much carving out time to do this. Appreciate you.
00:52:05.020
Isn't it ironic that we leave with the right stuff off a classic novel, the magnificent film, a great score about America at its height, the space program in the fifties and the test pilots in the fifties and early 1960s. Dr. Roberts at Heritage next in the war room.
00:52:35.020
What if he had the brightest mind in the war room, delivering critical financial research every month?
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Steve Bannon here. War room listeners know Jim Rickards. I love this guy. He's our wise man, a former CIA, Pentagon and White House advisor with an unmatched grasp of geopolitics and capital markets.
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