Episode 5197： Economy Shifts As Iran War Continues
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Summary
In this episode of the War Room, host Stephan K Banan talks with Dr. Thayer about President Donald Trump's new strategy for dealing with the Soviet Union, and why he thinks unconditional surrender is part of the third world war.
Transcript
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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 not got a free shot all these networks lying about the people the people have
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had a belly full of it i know you don't like hearing that i know you try to do everything
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the world to stop that but you're not going to stop it it's going to happen and where do people
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like that go to share the big line mega media i wish in my soul i wish that any of these people
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had a conscience ask yourself what is my task and what is my purpose if that answer is to save my
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country this country will be saved war room here's your host stephen k bann
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i want to make sure welcome it is uh saturday 7 march in the year of our lord 2026 hour two i got
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dr thayer i want to make sure everybody takes advantage over this weekend on this special
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over there in the first uh trump administration and uh she's did a terrific job and now she's over
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tax network got this for the war and posse dr thayer i want to pull the camera back for a second of
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to ask you on this saturday morning given everything we got going on militarily you've seen the the
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methodical way that the uh centcom is going down this target set to make sure and what president
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trump calls unconditional surrender he has now been a little more precise and says when they don't have
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the ability militarily to either project power on their own people or project power against their
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neighbors that's what he thinks is unconditional surrender when they don't have the ability to do it
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anymore but the concern a lot of people have is with the the russians supposedly given targeting
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information you got the ccp uh out there this is now going you know there there there have been
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certain missiles launched towards turkey and cyprus uh azerbaijan i think up and near the caspian sea
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also the gulf is being hit uh you have uh people concerned are we is this metastasizing
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into even forming up with gaza in the ukraine as a broader part of the kinetic part of the third world
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war sir great to join you it might be uh my concern uh would be this that when he talks about
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unconditional surrender and caroline levitt yesterday on friday uh said that when the president
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determines that iran no longer poses that threat that's when under unconditional surrender will take
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place but my concern hang on hang on hang on hang on right there hang on right there hang on right
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there i want to be very precise when caroline came out and said that poses that threat define that
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threat because the president said it and then caroline said i think we can use that as a benchmark when
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he said no longer uh they no longer can have that threat what does she mean by that well uh there's
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there's an element of ambiguity there i think what is uh what she's saying is this my interpretation is
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this when they no longer have uh the military capabilities to harm their neighbors or to harm
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uh their people uh that's when unconditional surrender will take place and she envisioned the
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campaign lasting four to six weeks uh in her statements on on friday so uh my concern is this that you
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you take a war against the theocracy um which is a limited war uh now and we're turning it into a
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potentially into a total war against the persian people uh which is a different type of war so
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the war against the theocracy is uh has great support in iran among the persian people and among the
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ethnic minorities uh that live in um uh in in iran uh principally the azaris who are about 16 percent of
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the population and and the kurds which are about 10 percent of the population so you can see there
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that about one out of every four people living uh in iran is either a zary or kurd if we say
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unconditional warfare uh against iran so that um they no longer have the ability to harm their neighbors
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or to harm the population my fear is that this turns this into a nationalist element begins to surface
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and the persian people will begin to unite around uh the theocracy which is what we we don't want
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about six out of every 10 people living in iran is persian uh and um so uh that's a concern
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the air campaign the military campaign more broadly does seem to be on track to a trading
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uh obvious iran's air forces of course hang on i want to go through you laid out five elements
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the other five elements of this campaign i want to do an update and i i agree with you 100 percent
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if the persian people this turns into a nationalistic that it's about the nation of persia
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these people will dig in even some people potentially allies of ours and that's why
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it's a very thin line and especially on some of these bombing campaigns that cencom as the execution
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department of policy is really under pressure here and that's why maybe not having all
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diminutions that we originally thought we're going to have because we're giving them to ukraine
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they've been in gaza you know some of the some of these precision instruments when you're talking
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about i'm gonna have to use gravity bombs well even with some precision guidance on gravity bombs
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they're still generally it's generally gravity and that puts only any more pressure on cencom and
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you're right you don't want to segue in to have a fight with the persian people as a nationalist
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entity then these folks could dig in i mean it's 90 million people six or so what uh 55 million
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persians some of whom uh hate the regime a lot of them that underneath those restaurants right they
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hate it but if it has to be you know it's an ancient and proud people so if it doesn't uh you know if you
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turn it to that you can have a long tough fight in your hand now you laid out five elements the other day
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of how you grade the military campaign from cencom let's go through that and see what your grade is
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today certainly yeah well the underlying point is that this is attritional warfare right this is like
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muhammad ali fighting joe frazier we're pounding on the iranian uh and so but we need to recognize
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iran really uh in in this campaign there's a five it's a five front war the first front really is the
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missile front ballistic missiles cruise missiles uh the uav drone uh campaign and here there does seem
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to be progress in a trading that uh that is grinding down due to their own launches as well as what
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israel and the united states have been able to destroy uh second is the air war uh and the air war
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seems to be uh very successful from our perspective the corridors have been cut into iran the shoulders
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have been widened and there has been successful destruction of enemy air defenses so they do seem
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to be suppressed although there's always the possibility of course um that they're lying in wait
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and they ambush uh american bombers or uh american aircraft or allied aircraft the third front really is
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the naval war straight up for moves as well as uh more broadly and here we have some concern of course
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steve as you stressed in the last few days uh on war room that um iran is using a variety of measures
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uh to uh intimidate which is to coerce through the threat of attacks actual attacks and the threat of more attacks
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to come uh naval uh traffic uh civilian uh traffic uh in the gulf and in the strait and then we have the
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ground front fourthly the ground front would be purportedly led by the kurds uh potentially with backing
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from the u.s intelligence community from israel's uh in intelligence community and potentially other
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actors as well to serve as the boots on the ground to serve as a ground force that would be able to
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seize and hold territory within iran that might be used as bastions or that might be used to project
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additional attacks ground attacks uh against uh iran and then for the fifth and final would be
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this the front is also the fifth front is uh proxies the fact that the war is expanding and this is shown
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most clearly in lebanon uh where you have a proxy war between hezbollah and israel although with iran's
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strong support for terrorism we can see that proxy attacks occur uh for example the loan the attack in
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austin uh texas uh that we've had that we might see other attacks and sustained attacks due to the fact
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that there are iranian sleeper cells uh operating in the united states so when we think about the war
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the the kinetic aspect of the war right leaving aside the economic aspect of it leaving aside the
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political aspect of it we see those five fronts going on simultaneously uh uh today and there's
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variation in success the u.s has been very successful in sinking iran's navy
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uh and keeping um uh hormuz uh open we can see that the fifth fleet though is going to be tasked with a
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very great responsibility to ensure that civilian traffic is able to transit the strait the missile
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campaign again as a result of iranian launches and israeli u.s strikes has been successful at
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destroying any fixed launcher but also finding um what they call the tells the transporter or rector
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launcher uh vehicles that would actually carry uh ballistic missiles but that's an ongoing campaign
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and it's quite reasonable to suspect that iran is husbanding some ballistic missiles they launched a
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lot at the outset of the war and then you see a fall off uh because of the success of the air campaign
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but also because of iran's desire strategically to keep some of those ballistic missiles and their
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tells in reserve so that they can be launched to lengthen the war to draw out the war and to it for
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israel and the united states never to be sure that we've had we've been able to destroy all of their
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ballistic missiles uh ballistic missiles likewise um the air war their air defenses seem to be greatly
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weakened uh as a result of the cyber actions that we've likely taken in conjunction with israel and
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uh the kinetic actions that we've taken with israel uh and the u.s but we always worry about uh
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essentially a surface-to-air missile an ambush uh of uh an aircraft the ground war steve we worry
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about that a lot because of the possibility if you're using kurds that's going to cause a persian
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nationalist reaction if you're using kurds to break down the door on the ground and to seize a chunk
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of iran uh the persians are the persian people are going to react to that i would suspect vociferously
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and that's going to feed uh support for the regime and that's not an outcome uh that we want and then
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of course the proxy front will be ongoing as long as this war is right we will always be worried about
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a terrorist attack in the united states on american soil or against u.s military targets abroad uh or
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against allies uh of course do you think as well as cencom goes down what i refer to as the punch list
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or the target set however you want to describe it uh and i'll you can answer this after the break i
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appreciate we're gonna keep you for a short period of time in the next uh next segment as cencom goes
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through systematically this punch list and those five categories or at least three of the categories of
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war to um make sure that we've degraded and or destroyed because president trump now saying there's
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no need for combat troops because we're going to so destroy what they've got uh as they do that
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is one of the concerns how this is metastasizing on persian versus arab muslim versus muslim as this
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metastasizes into the into the gulf the financial times of london the wall street journal of course
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obviously bloomberg they're very focused on something they should be focused on and that's oil assets
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uh being taken offline in the gulf whether that is the uh tanker fleet uh whether it is um uh refineries
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uh desalination plants all of the gas fields all of it we're gonna take a short commercial break
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we're gonna return to saturday morning in the warm in just a moment
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dr bradley thayer thank you for giving us time on a saturday morning uh persian versus arab
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because to me this is the most fascinating part of this so far is that and this is a big time
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military campaign folks ought to understand that since as you guys know as a young naval officer
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over there in the north arabian sea and persian gulf it amazes me you know 47 years later the types
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of power naval power we can project uh that we couldn't project back then so as a former naval
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officer it's awe-inspiring what's happening that being said what really and and dr thayer you were just
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in australia if we'd asked you at the time i i think all of us have been stunned to see persian
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versus arab shia versus sunni uh this kind of outright attacks on the uh on the um in the gulf on
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oil assets desalination plants and quite frankly i think the saudis and other people punching back
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uh your thoughts about that is that the new center of gravity uh in this war
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i i think it's it's a key element of of the war i i think what what the iran has done has it has
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escalated the war uh horizontally by attacking uh the the gulf shakedoms in saudi arabia and
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azerbaijan uh and many other states uh as well uh their effort is to undermine support for the u.s
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there's a logic for what they're doing a military logic strategic logic for what they're doing
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they want to inflict pain on the arab states uh and then by so doing of course that also um reveals
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the cleavages the tensions that exist between sunni and shia arabs iranians largely shia uh and between
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persians uh and arabs so iran's efforts to hurt uh the u.s to draw out the campaign and inflict pain
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on the arabs uh is um uh to a degree self-defeating because it's generating at least at the elite level
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uh support another issue which needs to be addressed is that by attacking azerbaijan remember 16 of the
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population of iran is azeri so by attacking azerbaijan you're opening up a window for
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azerbaijan to reach out to uh essentially their population the diaspora population uh in iran
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likewise for uh the kurds so by iran escalating and again there's a logic to do that they're also
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complicating their strategic situation they're they're adding to their enemies uh and they're adding
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to the might arranged against them their calculus must be at least with the arabs uh that there'll
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be a revolt that at the mass level among in the gulf shakedoms the people don't support the u.s
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and they don't support this war and they don't support uh essentially their governments um that's
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there's a logic there but whether that's going to obtain well part of the logic part of the logic
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is they see they see this as the israeli uh anglo the israeli american uh demons going after going
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after going after muslims go ahead right saddam hussein attacked israel right as a way to draw in in
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the in desert storm desert shield in 91 saddam hussein attacked israel as a way to essentially break up
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the coalition as well as attacking saudi as well as attacking the gulf shakedoms bahrain very uh famously
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so again there's that military logic there uh but whether that's going to be successful uh or not
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is um you know is uh uh certainly very difficult to uh you're you're you're following the war very
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closely where do people go on your on your twitter feed you're also working on a huge book that we'll
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talk about that hopefully comes out this spring if not early summer that i think puts this all in
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perspective but where do people go to get your constant updates on this war and particularly your your
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thoughts on are we segwaying into the kinetic part of the third world war and uniting all these fights
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in a massive kind of world war one type fiasco right uh brad there uh at x or bradley thayer getter
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and truth uh uh and so steve you know the major caveat is let's not turn this into a national conflict
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let's not turn it into a war against the persians uh which is going to greatly complicate um the uh
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the conflict amen that's why centcom the uh airmen soldiers naval officers the crews of those ships i
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mean they're on they're on uh the razor's edge right now thank you sir appreciate you thank you steve
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the centcom that's what we really try to do as many centcom briefings as possible that's cutting edge
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i want to since they had this dhs we didn't get a lot of time to get into it because so many other
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things going on but the senator mark wayne mullen i want to get sheila matthews on here he has been
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and obviously you're very supportive of the president sheila and able child is i think able child you're
00:21:41.120
coming you're having your 25th anniversary gala this week i want to make sure everybody knows about
00:21:46.260
that uh you're very supportive full maga but there's some issues you you've been out constantly
00:21:53.220
saying hey we're missing the point on this mental illness thing we're not getting into the psychiatrist
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records this is a huge industry for big pharma uh we don't have our arms around it uh senator mark
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wayne mullins does have some legislation out there that you're saying hey i think this thing needs a
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mid-course guidance can you walk us through what's the what's this legislation what's the fundamental
00:22:14.160
problems with it and what do you think we need to do to kind of rectify it now that he's going over
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to dhs well able child works with everybody and um we're looking at senator mullins a co-sponsor of
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the b-h-i-t act which is the behavioral health information technology act what it is it's a big
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electronic um network where they collect all our consumer mental health documents and they pass them
00:22:44.280
around to behavioral health vendors and doctors and there's a flaw in this bill and what the flaw is
00:22:51.660
is it does not collect the data associated with the violence that the psychiatric drugs have so what
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we're excited about is that he is the co-sponsor of this bill so maybe he missed it maybe he missed
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that loophole so we need to put a patch on it so we need to open that system up and he's the guy to do
00:23:15.580
it now that he's got this big job and he doesn't need a bill to push through he can look at this flaw
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and say you know what we need to collect the data from the psychiatrists that are associated with these
00:23:29.300
mass shooters so it protects the consumer there's a consumer loophole here this bill is that he co-sponsored
00:23:38.140
is more protective of the uh behavioral health and the drug companies so able child wants but it
00:23:45.040
seems like it seems like this is the fight that you've had it seems like every this will understand
00:23:49.880
it seems like everything we have is to protect the psychiatry the industry of the psychiatrists
00:23:56.120
because they're kind of the the physician the attending physician that prescribes this and this is how
00:24:02.080
big pharma makes so much money i mean is is everything that we have here is it just
00:24:07.640
um like you said hey may overlooked it it sounds like this is not a uh this is not a bug this is
00:24:14.720
actually the way the system works well these bills are crafted by the behavioral health industry and
00:24:21.740
they're pushed on to senators and congressmen and the voice of the consumer is often lost in there
00:24:27.720
they go to the senators we have a great idea we're going to do this whole new database and it was
00:24:33.140
bipartisan so we're all often always cautious of that because we have to make sure that the consumer
00:24:40.100
is protected it took us two years to get the uh tennessee bill passed to um test for the therapeutic
00:24:47.960
levels for psychiatric drugs in mass shooters this bill that he sponsored has a loophole so able child's
00:24:57.140
been chasing this data so you're absolutely right this is a flaw in this bill and he's going to be the
00:25:02.460
homeland security um head and we have mass shootings that become unsolved and um you know as consumers
00:25:10.660
we need this protection we need this data it's a data vacuum for the consumer we need it patched up
00:25:17.200
and you know we're willing to work with him we're aware of this flaw and we are going to stand on the
00:25:23.760
mountain shout about this flaw because it protects it protects the psychiatrist it protects these records
00:25:30.100
and we're forever uh fighting to get these records released to the public and the consumers want to
00:25:36.460
go to movie theaters and malls they don't want to be shot up by psychiatric patients that um are on
00:25:43.660
these dangerous black box suicide warning drugs we gotta we gotta bounce but does it drive you crazy
00:25:49.620
every time we have a mass shooting they all come on tv for a couple days and say no police are really
00:25:54.400
looking for a motive when when the first thing you hear is that they were under psychiatric care
00:25:58.900
and and and taking these drugs but they always for three and four days until it fades from public view
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say we're really the the the authorities are investigating for what why they did this
00:26:09.560
yeah i mean able child's frustrated but you know what the consumer's frustrated and they know it and you
00:26:16.720
look on the internet on x and they're all talking about it so it's out of the box we need we need the
00:26:23.140
consumer's voice in there and i believe able child provides that bipartisan we work with both
00:26:28.740
democrats and republicans and i do favor uh working with the trump administration you know he's doing
00:26:35.380
a lot of good things you know sheila uh we gotta bounce where do people go to get all the information
00:26:41.360
if they want to support you at the gala where do people go um ablechild25.com we're going to be
00:26:47.860
closing out tickets shortly we are overwhelmed um with the response and please sign our petition
00:26:54.380
on um ablechild.org and so we get our voice in there um with federal hearings on this issue and
00:27:03.960
this flaw so i'll be tracking this flaw steve yeah great job in tennessee we got to model everything
00:27:10.840
after tennessee great job there sheila thank you so much for joining us appreciate you thank you
00:27:16.760
philip patrick's going to join us next of course this uh what is it major military operation and or
00:27:24.820
war whatever you want to call it this conflict in the middle east is driving turbulence in capital
00:27:29.520
markets all over the world so uh philip patrick's going to be here we're going to walk through about
00:27:34.540
gold uh also commodity markets what it means for commodities particularly oil uh the hydrocarbons
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over there and how that impacts uh the gold and bond market and equity market if you want medical
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10 get 10 off short commercial break philip patrick joins us do you owe back taxes or
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welcome back um we've got philip patrick patrick uh joins us philip let's walk through why
00:30:35.220
just generally because i want to get into the specifics of this war and and what it's causing
00:30:40.920
and the turbulence in uh capital markets uh and commodity markets but first off why has gold
00:30:48.380
been a because we're here for the for a discussion that we've kind of come full circle about
00:30:53.560
remember one of the rushes to gold over the last couple of years is that philip patrick and we we
00:30:59.980
partnered with birch gold to talk about the end of the dollar empire now that was not about
00:31:06.740
specifically about gold as a hedge but gold as a financial asset which became as the dollar
00:31:12.960
um was essentially the purchase power the dollar was destroyed by our the elites that run this country
00:31:20.900
right and particularly the massive overspending that when the purchasing power dropped that the world
00:31:28.380
would uh go to particularly central banks and others would go to buying gold and gold would have a floor
00:31:34.280
and then it would become a uh a financial asset as as it has right in in much like the 19th century
00:31:42.180
but classically gold has been a hedge against times of financial turbulence it's been a safe harbor
00:31:48.080
and you definitely have financial turbulence now i use the term geopolitical risk and i tell people
00:31:55.000
that's just a fancy schmancy term for war or the rumors of war when it gets down to it and now we're in
00:32:01.160
it you know we're in a uh we're in a conflict that is in the conflict as our theory of the case is the
00:32:08.040
center gravity of the conflict is not uh the military conflict part of it is tehran in persia itself which
00:32:16.000
is being pounded to degradate their ability to have weapon systems uh that actually can attack their
00:32:22.520
neighbors of the united states also to have a command structure that's still run by radical islam
00:32:28.220
however the other part is what's different than all these other wars it's muslim versus muslim
00:32:34.460
that's metastasized that's shifted over to the the persian gulf and whether you like to admit it or
00:32:40.040
not until we were up to more full capacity still much of the world obviously europe in in in asia
00:32:49.360
run on persian gulf oil and gas and so gold has been a traditional hedge what does that mean and what
00:32:56.940
does it mean particularly in a time like this well we're in a short shooting war in a a massive
00:33:02.640
shooting war that is quite frankly even now forget iraq in afghanistan it's bigger than the gulf war
00:33:10.360
sir yeah this is i mean there's a lot to unpack there certainly you know even prior to this as you
00:33:18.140
mentioned we had the perfect storm for for gold we've printed the dollar into oblivion we've made
00:33:24.680
it a much less attractive store of wealth we've talked about how we broke the trust specifically
00:33:30.480
biden through sanctions and weaponization of currency which made the dollar far less attractive
00:33:36.440
people have to understand gold has been the standard for international currency throughout
00:33:41.400
all of human history because ultimately for most of human history countries didn't trust each other and
00:33:47.420
sort of post world war ii this belief was born that the world had transitioned and we moved away from
00:33:54.180
gold towards government debt and specifically u.s government debt but i think clearly that illusion
00:33:59.760
has been shattered first of all the dollar as a store of wealth isn't what it was it's lost 28 percent
00:34:06.380
of its buying power since the pandemic it is an unattractable much less attractive store of wealth than
00:34:12.740
it was secondly broadly the trust has been broken so i think what we're seeing now is the world is
00:34:19.200
reverting back to sound money what has always been the standard um now obviously a war in iran
00:34:26.920
adds another dimension and more instability and you're correct in your assessment look the iranians
00:34:33.200
can't wage a military war or can't win a military war against the united states so the best way to do
00:34:39.760
this is to morph this into an economic war i think it's why they're hitting the gulf states currently to
00:34:45.720
to create uncertainty and chaos and i think it's going to be a very effective strategy obviously
00:34:52.720
oil prices increasing on the back of it significantly if the war is long drawn out and protracted that's
00:34:59.740
going to increase even more and that puts pressure on things domestically ultimately we said this a lot
00:35:05.700
under biden uh you know oil is the most inflationary commodity oil prices go up put pressure on pricing
00:35:13.140
across the board domestically at a time heading into the midterms when we really don't need it so
00:35:19.020
the iranians are smart and i think they're going to continue to play a smart game so we'll have to
00:35:24.460
see how this pans out but economically this is problematic when you see when you on the you know
00:35:32.920
we've had eric bowling on now he used to be a trader of uh oil and gas futures all of it uh in the pits
00:35:39.020
for about a dozen years uh when you're talking to traders we're talking particularly people in the
00:35:43.280
commodities market and people in um in the gold market what are you hearing today listen predictions
00:35:50.780
that what i'm hearing is this is the perfect storm we're seeing now for precious metals right the world
00:35:56.260
is is turning into to chaos sadly the silver lining is it bodes well for investors in in precious metals
00:36:04.160
predictions now are increasing dramatically ubs jp morgan bank of america have scrambled to up
00:36:11.560
predictions now on precious metals they're projecting 6300 now for gold by the end of the year we're
00:36:18.440
trading in you know the 5100 range so significant upside from where we sit this ultimately strengthens
00:36:25.260
the long-term fundamentals and i think the longer the duration the better it is for precious metals
00:36:31.500
the more strain it puts on the dollar and government debt when you say good government there is though
00:36:37.480
there is this um there is this uh flight to quality with the dollar the dollar has strengthened since
00:36:43.620
this started so so people are fleeing certain assets it's not it's not the end of the bricks movement
00:36:50.180
but clearly some of the money market uh folks have said hey given i don't understand what's going on
00:36:57.100
maybe i get more into dollars obviously gold too but but the the the strength of the dollar you've
00:37:03.240
seen that in the last week or so because a lot of people said hey i think gold could be exploded could
00:37:08.360
get to the 6 000 or 6 500 remember we don't forecast the the price of gold here what we want to do
00:37:14.540
is get you the information and get you into like end of the dollar empire and you take you know take
00:37:20.200
your phone and text bannon b-a-n-n-o-n at 9-8-9-8-9-8 you get the ultimate guide for investing
00:37:25.500
totally free no obligations all the information from birch gold in the war room on this topic are
00:37:31.280
always free because we want a smart investor in a smart uh in a smart uh um you know a smart consumer
00:37:39.100
um so uh but what was this about the strength in the gold over the last couple of days
00:37:44.040
the gold strengthened you make an interesting point though initially you saw the dollar
00:37:48.820
strength and it has done and it's good news people ultimately move to cash and it shows that for
00:37:54.660
liquidity people still want dollars what was interesting though is historically during times
00:38:00.740
like this investors run to government debt and yields decline but the opposite happened yields
00:38:07.440
actually increased on the debt and what that suggests is people are less worried about collapse
00:38:12.360
more worried about inflation and i think particularly the impact of higher energy costs on top of
00:38:18.080
today's already elevated price levels so as much as the dollar did strengthen which was good news
00:38:23.780
yields yields on debt increased which is bad news for the government so sort of a mixed bag there
00:38:29.780
in terms of precious metals though like i said i think demand will still increase broadly for metals
00:38:35.760
it's still being driven by central banks de-dollarization is still happening very actively i think we're
00:38:42.540
38 year lows now for central banks around the world holding uh holding dollars for reserves so
00:38:48.940
that trend i think will continue long term nothing is linear right nothing the dollar is not going to
00:38:56.700
go like that there'll be peaks and troughs but i think long term the trend at least at this point
00:39:02.040
is not changing you were the first to bring up this is years ago in fact this is the beginning of the
00:39:09.020
uh but a year so i think after working with you guys you had this uh blinding insight that really
00:39:16.340
not just turbocharged gold at the time but really had such a massive geopolitical um impact when people
00:39:25.780
in this in the beginning of the ukrainian war i guess we might have been into it for the first year
00:39:30.460
when uh the people that were so gung-ho you know that were driving the ukrainians to put more people in
00:39:36.540
and more of their resources in really fight it they came with this idea of first freezing the russians
00:39:43.380
assets and then essentially stealing the russian people's assets dollar denominated assets that were
00:39:49.880
in essentially basically european banks and you came on he said hey this is a game changer uh it's
00:39:56.580
one of the reasons people have had a problem with the swift system they've had a problem with the
00:40:01.060
because the americans can actually weaponize the dollar but we've never done this to the nazis
00:40:06.880
we didn't do this to imperial japan we didn't do this to uh the bolsheviks this is a game changer
00:40:12.600
and you saw the shift into kind of the sentiment to gold particularly among central banks because they
00:40:18.220
realized hey maybe we can't be so dollar denominated we just had in the last 24 48 hours the same
00:40:25.120
situation in uh in in the uae where the uae has warned the persians and 99.99 percent of people didn't
00:40:33.840
understand this because they said hey i thought the arabs and the in the iranians and the persians
00:40:37.800
were kind of at a at a war with each other and you know the iranians were always saying they were
00:40:43.460
threatening militarily and they had all these proxy groups in there and so this thing's not never really
00:40:49.060
it's it's been in the abraham accords showed that uae and others were prepared to work with the
00:40:54.160
israelis the bigger problem was was tehran and then it comes up that dubai is the i call it tortuga to
00:41:01.300
the to the pirates in the caribbean in the uh in the in the 18th 6th 17th and 18th century uh it's
00:41:10.240
uh dubai is like the pirate's den and you had all the resources and all their cash wasn't in wasn't
00:41:17.840
in switzerland it was in dubai and now uae is threatening to say hey look not only might we freeze
00:41:23.620
it we might take it how is that tell me how that's a game changer in this war it reflects what happened in
00:41:30.520
uh in with the russians but it's also going to be another indication of countries throughout the
00:41:37.200
world and central banks said hey maybe i just can't be keeping my cash sitting around maybe i got maybe i
00:41:42.460
have to go go to gold sir this was the this was the point that i was making earlier right for all of
00:41:49.280
human history gold was the standard because trust didn't exist broadly between nations and like i said
00:41:56.140
this sort of post world war ii u.s led order meant that the world broadly trusted each other and when
00:42:02.680
the trust broke down america was there to police it so we saw this transition but that illusion has
00:42:08.540
clearly been shattered the world now is sort of turning to blocks and i think asset seizures things
00:42:15.120
like that have ultimately escalated the inevitability um i'd love to to sort of take credit for some
00:42:21.960
genius foresight when it came to the russia thing but ultimately it's it's common sense right if you
00:42:28.100
want to incentivize the world to hold your currency and trade in it you know you can't do things like
00:42:34.740
seize people's assets and threaten to give them to a country that they're currently at war at to fight
00:42:41.780
against them that's not only a message to the country you're sanctioning but it's a message to
00:42:47.500
every other country around the world that may want to do things that don't align with your moral compass
00:42:53.940
it's that simple and the more it happens the more the world will revert to gold uh philip can you just
00:43:02.320
hang on i realize it's a saturday but just hang on through the commercial break because i want people
00:43:06.780
to immerse them avail themselves of the opportunity that you have to immerse themselves in information here
00:43:14.080
and become wiser uh i think you'll become financially more and more stable if you do this
00:43:20.240
but if not you'll still learn how the world works uh birchgold.com the end of the dollar empire
00:43:25.900
if you go there today all of the installments are free online but you also if you want a hard copy
00:43:32.460
and the hard copy we did in conjunction with our partners over at birch gold is just nothing short of
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i think magnificent the patriots edition of the end of the dollar empire it's seven all seven free
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installments and kind of reads right through like a book and remember it's being taught now in
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graduate schools i thought it was undergraduate economics and finance classes actually being
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taught now in graduate level why because we try to make this accessible keep it sophisticated but
00:43:59.720
make sure that you didn't have to have a degree in economics to understand it birchgold.com
00:44:04.340
promo code bannon the end of the dollar empire philip patrick on the other side war in the rumors
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that's done with that.com done with that.com do it today war room here's your host stephen k man
00:45:56.240
okay i just want to make sure everybody to think about this um crypto was supposed to be uh digital
00:46:04.280
gold correct philip and it was going to have all these attributes of gold one things for the audience
00:46:09.660
to understand that history has kind of proven the last couple years is that particularly as the central
00:46:15.400
banks stepped in from throughout the world particularly the chinese communist party right
00:46:20.380
but the central banks have stepped in and and doubled and tripled on their gold reserves is that
00:46:27.320
gold has has been very liquid i think in the past there were some issues well if i got physical gold
00:46:33.260
you know it's not like going in a stock on the new york stock exchange i can't call my broker and cross a
00:46:37.960
trade but that just the the depth of purchasing in the gold market gave you liquidity if you wanted to
00:46:45.100
offload your gold or sell it you weren't looking at taking a 25 discount or something like this
00:46:49.960
because of recent statistics or and crypto was supposed to be the same way i think what we found
00:46:57.020
one i want you to talk about it turned out it didn't move with gold it turned out to be instead of
00:47:02.340
counter cyclical with the cycle uh and i believe more importantly and this is why you saw a lot of the
00:47:09.020
tech bros very early on when president trump won remember these guys all climbed on board and they
00:47:13.960
want not just regulation they also wanted uh some uh the u.s government to step in with these kind
00:47:20.560
of these reserves to essentially add liquidity to the market and now we understand particularly
00:47:27.020
specifically now that we're in the shooting war and crypto has been all over the place there's just
00:47:32.420
not one it's it's not counter cyclical number two it is uh there's a liquidity issue um and so it
00:47:39.420
turns out it's actually not only not digital gold it's kind of anti-digital gold is it not sir
00:47:46.020
it's a good good way to put it and i think not having the american taxpayer be the backstop for that
00:47:52.200
is very very important with the benefit of hindsight it's clear to see what what would have happened
00:47:58.500
on top of that the digital gold story just doesn't hold up anymore and honestly it hasn't for quite a
00:48:04.300
while gold is a safe haven asset it performs incredibly well during times of stagflation
00:48:10.140
things like higher inflation weaker growth monetary instability dollar decline they all drive gold up
00:48:17.440
but what it is is defensive boring it's essentially insurance for a portfolio bitcoin has not behaved that
00:48:25.420
way at all right when liquidity has been abundant when rates are low speculative appetite is high
00:48:31.860
bitcoin absolutely soars and people can do incredibly well when liquidity tightens and when real rates
00:48:38.900
rise sentiment turns from risk on to risk off the thing can absolutely plummet right drop 50 60 percent
00:48:46.480
as we've been seeing so you know gold is on the opposite end of the spectrum to that right you're not
00:48:51.920
going to buy gold and it's worth you know double triple quadruple two weeks from now but by that same
00:48:57.500
token it doesn't drop in half in a week so when it comes to to sort of risk profile i'd put it on the
00:49:03.680
opposite end of the spectrum and as you rightly point out you know gold has thousands of years of
00:49:09.760
history and what we've learned over those years is how it performs in relation to other assets so we
00:49:15.880
understand very well it's defensive and it's counter cyclical it does very well when things are
00:49:21.820
struggling bitcoin seems to be the reverse right and in climates like this when people are looking for
00:49:27.940
safe havens they're looking for wealth preservation bitcoin just doesn't achieve that so i've always
00:49:34.520
viewed it as a speculative asset and i still do today so as some sort of support for the u.s dollar
00:49:40.960
definitely not i also want people to note that uh both um philip and myself came out of investment
00:49:48.380
banking we are we are we are not gold bugs in fact in the 80s and 90s when i really you know left
00:49:54.420
harvard and went to work for goldman sachs had my own firm it was it was really john maynard canes i
00:49:59.960
think it was i said it was a historic relic a barbaric relic uh this has only been really this focus on
00:50:06.800
the uh on the crushing of the u.s dollar over the last couple years because the u.s dollar is still the
00:50:11.780
backbone of the system uh as you're seeing right now in this war uh the reason we partnered with
00:50:17.800
birch gold is that you know i never talk it's not the price it's the process and it's learning
00:50:22.720
this was a great learning experience for you to understand how the world works even if you never
00:50:29.900
invested or you never did anything it's just to have another error in the quiver that the reason
00:50:36.780
you're the smartest most powerful political uh audience in the world and have really bent the arc
00:50:42.780
of history is that you use your agency and you're engaged uh and we've done this on geopolitics we've
00:50:49.240
done it obviously on on politics itself on culture one of the most important things we do in the show
00:50:54.180
is to talk to a blue collar and a middle class audience on things i think are more sophisticated
00:50:59.900
than cnbc or or forget fox business that's just cheerleading or almost like bloomberg tv we're really
00:51:06.500
trying to get people in here and break down what's going on because we say if you don't understand
00:51:11.060
that you're not going to understand how the world works and that's why the partnership with birch gold
00:51:14.680
and all the work we've put in together the birch gold team and the worm team to do it but philip i
00:51:19.620
want people if you go to birchgold.com promo code band and you get access to all the information but
00:51:25.300
most importantly get access to philip patria team and i've had so many people come to me and say hey
00:51:30.140
in my relationship with birch gold has changed my life because i got in a gold at 1500 bucks and it's
00:51:36.080
over 5000 a day but it's really the learning experience i want we got about a minute philip
00:51:41.140
where do people go how do they get access to you and your team it's really simple it's birchgold.com
00:51:48.020
forward slash bannon again birchgold.com forward slash bannon get the end of the dollar empire reports
00:51:54.860
access to guides on how and why to invest in precious metals in today's climate and as you
00:52:00.980
rightly point out you know your viewers your listeners they have a real desire to learn so
00:52:07.680
the feedback we've been getting from this has been fantastic and whether people ultimately buy or not
00:52:13.220
read the information that's going to be the most important part of this so birchgold.com
00:52:19.180
forward slash bannon or text bannon to 989898 ask for the information and do whatever they want from
00:52:26.160
that no obligation totally free also if you go you can get access to the printed edition
00:52:32.620
the patriots edition of the uh of the uh end of the dollar empire uh also we're coming out philip
00:52:39.840
and i have finally philip made some smart tweaks over the last 48 hours and we'll be out with the eighth
00:52:46.840
free edition the eighth installment as we rub this thing up again philip patrick thank you thank you for
00:52:52.800
taking your time away uh on a saturday appreciate you sir thank you for having me steve okay i'm
00:53:00.040
going to be up on social media with grace and mo elizabeth everybody plus remember tomorrow morning
00:53:07.280
at 10 a.m eastern standard time we're going to have our seven day a week we're going to do our sunday
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show tomorrow to get you up to speed on everything you need to know on is with this the beginning the
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kinetic part of world war three where did i hear that before oh that's right the guys in the war
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room have a great saturday we'll see you back here tomorrow morning at 10 a.m eastern standard time
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