Bannon's War Room - Episode 5266： Where We Stand In An Offramp To The War; Cutting An America First Deal

00:00:00.000 These terrorists who have nuclear weapons would be an intolerable threat.

00:00:05.320 The most violent and thuggish regime on Earth would be free to carry out their campaigns of terror, coercion, conquest and mass murder from behind a nuclear shield.

00:00:16.340 I will never let that happen, and neither should any of our past presidents.

00:00:22.900 this situation has been going on for 47 years and should have been handled long before i arrived in

00:00:30.900 office this short-term increase has been entirely the result of the iranian regime launching deranged

00:00:37.460 terror attacks against commercial oil tankers and neighboring countries that have nothing to do with

00:00:43.340 the conflict this is yet more proof that iran can never be trusted with nuclear weapons they will

00:00:50.020 use them and they will use them quickly. Iran has been essentially decimated. The hard part

00:00:56.580 is done, so it should be easy. And in any event, when this conflict is over, the strait

00:01:01.980 will open up naturally. It'll just open up naturally. They're going to want to be able

00:01:06.520 to sell oil because that's all they have to try and rebuild. It will resume the flowing and the

00:01:13.760 gas prices will rapidly come back down. Stock prices will rapidly go back up. The president

00:01:19.520 is looking for an off-ramp. Well, perhaps politically he is, but militarily he talked

00:01:24.520 much more about escalation and effectively using words like the Stone Ages, sending them back to

00:01:31.700 the Stone Ages. That sent the market tumbling in the wrong direction. So there's no doubt that

00:01:36.420 politically the White House is hoping for this to come to an end, but that is not what the

00:01:42.220 president signaled last night. But I think the biggest sort of takeaway is that there was so

00:01:46.980 a little new in that speech. And had he given this five weeks ago before going into Iran or

00:01:53.740 perhaps right after, would that have changed public opinion? It's unclear. It made clear

00:01:59.020 from the beginning of Operation Epic Fury that we will continue until our objectives are fully

00:02:04.600 achieved. Thanks to the progress we've made, I can say tonight that we are on track to complete

00:02:10.900 all of America's military objectives shortly, very shortly. We're going to hit them extremely

00:02:17.760 hard over the next two to three weeks. We're going to bring them back to the stone ages where they

00:02:24.180 belong. In the meantime, discussions are ongoing. Regime change was not our goal. We never said

00:02:31.240 regime change, but regime change has occurred because of all of their original leaders' death.

00:02:39.680 Do you think he made that case?

00:02:41.340 I thought he started with the necessity.

00:02:42.980 We talked about the necessity, the objective, and what's the plan.

00:02:45.560 I thought the necessity of laying out the bill of particulars on Iran was fairly effective,

00:02:49.380 not entirely accurate, as you just pointed out.

00:02:51.660 I think it's important to remind people of what Iran is about.

00:02:54.080 It is a real threat.

00:02:54.980 There are reasons to be doing what we're doing.

00:02:57.160 I thought when he laid out the objectives and the plan, I don't think we heard too much.

00:03:01.180 My takeaway was that we might be in for an escalation of this war.

00:03:05.140 I mean, he said if there's not a deal, he put back on the table.

00:03:08.560 He didn't talk about a deal very much.

00:03:10.300 Well, he said he said he said the energy targets, everything else he'd been talking about.

00:03:13.940 So if we were thought we might hear a deescalatory speech that we're going to wrap this up in a couple of weeks,

00:03:20.920 I actually heard something quite different that and he said he visits the families at Dover.

00:03:26.120 And he said we must honor them by completing the mission.

00:03:28.860 And then he basically threatened Iran that we're going to prepare to send you back to the Stone Age.

00:03:35.340 So I think this war is going to continue for some time.

00:03:38.120 That's what I that's what I heard next. And here's what I learned. Iran makes a deal to make sure they never do this again or we will destroy their infrastructure to survive as a nation. That's their choice. And that's the big takeaway tonight for me. We'll hit them with missiles very hard again. We have all the cards they have none. It's very important that we keep this conflict in perspective. American involvement in World War One.

00:04:08.120 lasted one year, seven months, and five days. World War II lasted for three years, eight months,

00:04:16.320 and 25 days. The Korean War lasted for three years, one month, and two days. The Vietnam War

00:04:24.060 lasted for 19 years, five months, and 29 days. Iraq went on for eight years, eight months,

00:04:32.220 and 28 days. We are in this military operation so powerful, so brilliant against one of the

00:04:39.400 most powerful countries for 32 days. And the country has been eviscerated and essentially

00:04:47.940 is really no longer a threat. While he had a chance to speak to the Iranian leadership,

00:04:53.480 the replaced Iranian leadership, he did not make an offer or any discussion of what the U.S.-Iran

00:05:01.500 relationship could look like. I mean, these are two countries that have every reason that they

00:05:07.180 could be natural allies historically in various moments. Long time ago, they were. But there was

00:05:14.860 only threat to the Iranian leadership. There was no incentive. I thought the second really

00:05:20.440 interesting thing was that the president basically dismissed the operations to go get the nuclear

00:05:28.880 material. You may remember that when this war started, that was supposed to be the number one

00:05:34.800 objective. Keep Iran from making a bomb. And that means taking away the near bomb grade material.

00:05:42.460 This time, he said it would take months for them to get near the nuclear dust.

00:05:47.400 Also this morning, U.S. Central Command just released a new video about strikes. And CENTCOM's

00:05:53.220 commander said this in releasing this video. He wrote, now in our fifth week of the campaign,

00:05:59.500 it is my operational assessment that we are making undeniable progress. We don't see their

00:06:04.980 Navy sailing. We don't see their aircraft flying. And their air and missile defense systems have

00:06:09.980 largely been destroyed. Number one, buy oil from the United States of America. We have plenty. We

00:06:15.620 have so much. And number two, build up some delayed courage. Should have done it before,

00:06:20.860 should have done it with us as we asked go to the straight and just take it protect it use it for

00:06:27.900 yourselves this movie end here's what president trump said tonight if you're in iran you better

00:06:32.840 be listening i'm willing to do a deal to make sure you don't become the largest state sponsor

00:06:37.800 of terrorism again i'm willing to do a deal that will allow you to exist under certain conditions

00:06:43.920 you have to change your behavior but if you don't do a deal i'm going to decimate your ability to

00:06:50.580 come back economically. President Trump outlined targets that would destroy the ability of this

00:06:57.180 regime to survive over time. If you don't take this deal, we're going to blow up all the things

00:07:04.280 you need to come back. This was a defining moment in this campaign. He defined the end state.

00:07:13.580 He set the objectives early on. We're inside the 10 yard line and he's telling Iran how this movie

00:07:19.680 ends it's up to you we could do it through diplomacy and if you reject diplomacy this

00:07:25.680 will end with a decimation of your ability to ever come back economically

00:07:33.600 this is the primal scream of a dying regime pray for our enemies because we're going medieval on

00:07:41.840 these people here's not got a free shot all these networks lying about the people the people have

00:07:48.400 had a belly full of it i know you don't like hearing that i know you try to do everything

00:07:52.240 the world to stop that but you're not going to stop it it's going to happen and where do people

00:07:55.840 like that go to share the big line mega media i wish in my soul i wish that any of these people

00:08:03.920 had a conscience ask yourself what is my task and what is my purpose if that answer is to save my

00:08:11.600 country, this country will be saved. War Room. Here's your host, Stephen K. Bannon.

00:08:24.920 It is Holy Thursday to April in the year of our Lord, 2026, the foremost

00:08:29.380 important days in the Christian calendar, Holy Thursday, Good Friday, Holy Saturday,

00:08:35.500 and easter sunday and of course the world will be here to um uh commemorate those with you

00:08:44.220 all these days uh many specials we'll work on right now for the uh for the easter weekend a

00:08:49.400 lot going on of course the speech last night i want to thank real america's voice for allowing

00:08:53.340 us to do live coverage and then commentary and observations last night uh of um of the speech

00:09:00.440 of course, the president, I think, laid out what his beginning objectives were, whether

00:09:06.200 you agree with it or not, the progress he felt that the armed forces had made, that

00:09:11.600 the military forces, the very specific military objectives, and I think laid out a two- or

00:09:17.580 three-week program to defang and declaw the Iranian military and the existing regime or

00:09:27.460 whoever's taken over and what part they've actually taken over um and kind of defined uh

00:09:33.700 you know hey straight or her moves if you're taking oil out of there it's you should cherish

00:09:39.760 it and you should uh and you should step up to the plate now he did have an escalatory ladder

00:09:45.880 part where he told the uh iranians which i think is not exactly clear of what he's looking for

00:09:52.220 whether it's a ceasefire or an actual deal and who can actually make that deal the reports last

00:09:57.580 night that i think israel tried to take out or attempted to take out or did take out is still

00:10:03.480 pre-muddled who jd vance is trying to work through to actually set meetings up because there's no

00:10:08.320 direct communication right now with iranians is all through third parties so that part's pretty

00:10:14.300 murky but the president did say that there would be a major escalation uh if uh if they couldn't

00:10:21.340 come to some sort of arrangement uh and actually was in quite stark terms the way we do including

00:10:26.960 take down the electrical grid and destroy uh their oil infrastructure i think that's that part of it

00:10:32.960 uh given the rest of was pretty methodical about what he what he what he set out to do

00:10:38.740 what he's done and what is left to do um is caused i think a little um how do you say turbulence in

00:10:46.580 global markets eric bowling joins us eric talk talk to i want to go back because last night we

00:10:53.780 didn't have you as a commentator because you were watching the markets full on i think it's an

00:10:59.360 important exercise for the audience to um see it through the eyes of how the markets see it so

00:11:08.100 let's go back to uh right before the speech started because you were tracking this quite closely

00:11:14.380 as the speech progressed and then overnight because overnight now we're in a situation where

00:11:20.400 i i think that uh the global oil markets are saying they're they're not enthusiastic about

00:11:26.160 what they heard in the speech so let's go back over time let's take your time on this last night

00:11:30.460 as you're behind the scenes uh working this as we were listening to the speech and then doing

00:11:35.460 commentary with john solomon posovic and the rest of the real america voice team

00:11:39.240 Steve, before the speech, I sent you, we were at $98 a barrel after market trading, sitting very comfortably, you know, down off the highs, but not where we should be.

00:11:51.080 We should be in the 60s or 70s.

00:11:52.420 However, I sent you, you asked me, what is the oil mark?

00:11:55.460 What are the oil guys, the real boots on the ground?

00:11:58.240 What are they thinking?

00:11:58.920 I said something like to the moon or something with that respect because someone one of the

00:12:04.400 traders had emailed me a guy who doesn't need oil prices higher or finer who needs them lower so

00:12:09.500 it's cheaper to run through his system he said off off to the races or to the moon or something

00:12:13.660 like that I watched the trade it really didn't move very much during the speech I kept updating

00:12:18.460 you when he talked about the part where he said we're going to send them back to the stone ages

00:12:24.320 I think that triggered something, because that's really where it started to tick up to $99 a barrel, $100 a barrel.

00:12:30.480 When he finished, I think traders were hoping to hear some sort of legitimate off-ramp, and it just spiked.

00:12:36.600 101, 102, 103, 105, 107, 108 or so.

00:12:41.660 This morning, I got up, Steve, and I was just shocked.

00:12:44.420 $111, $112 a barrel, that's 15%, $13, $14 a barrel higher.

00:12:50.080 And I just have to tell you, that translates, folks, into on the pump, just the overnight move in crude oil.

00:12:56.780 There's 42 gallons to a barrel of crude oil, 55 in the industrial world, but crude oil barrels are 42 gallons.

00:13:04.220 Unfortunately, that turns into about a 60, 70 cent move up on the pump price just on the overnight alone, what it did overnight.

00:13:12.240 So anything that's purchased at these levels, it's going to make its way to the system.

00:13:15.360 And you'll see a, you know, you could see a 470, 475.

00:13:19.080 Again, the longer we stay these elevated levels, the more likelihood it continues to go higher.

00:13:24.160 My concern is Trump addressed this.

00:13:26.060 He addressed it like he said, you know, they'll come down soon.

00:13:30.940 I've been doing this a really long time, Steve.

00:13:32.940 He can get the oil price down soon.

00:13:34.900 He can't get the pump price down unless he wants to go in like government manipulation of prices, which we don't want.

00:13:42.640 We just do not want our, you don't want to open that Pandora's box because the minute a Democrat gets in there,

00:13:47.220 then, you know, they can destroy the economy.

00:13:49.680 So there's a lot going on.

00:13:51.520 I think there is also very quick, you know, Steve,

00:13:54.800 we, you and I have been talking for three weeks,

00:13:56.240 what's the best off-ramp?

00:13:57.960 You know, we sent it to Susie Wiles,

00:14:00.380 we sent it to Pete Hegseth, they've got it.

00:14:02.720 We said they need to pound Iran hard, hit them hard,

00:14:06.280 hit their water infrastructure,

00:14:08.120 hit their highway infrastructure,

00:14:10.100 even maybe hit their media infrastructure

00:14:12.060 and then get them to relent.

00:14:13.580 And maybe, just maybe, and I'm very hopeful on this,

00:14:16.080 that that's what's going on right now he's going to literally lay into them as hard as he can

00:14:20.560 right now to bring them to the bargaining table and cut whatever deal he wants i hope he picks

00:14:25.300 our deal our deals is the best the smartest everyone walks away with a little bit of their

00:14:29.500 own skin but we walk away like a rose and he becomes the businessman that gave us energy

00:14:35.240 independence for real forever hang on one second sure commercial break here at bowling on the other

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00:16:25.780 Here's your host, Stephen K. Bannon.

00:16:28.260 okay uh there's breaking news and as soon as we uh get somebody to read it it just came to me

00:16:38.020 there's been some update on tina peters uh this tina peters situation the clemency situation we're

00:16:44.160 going to get on top of that uh right now and be back to you guys momentarily uh colorado court

00:16:50.040 of appeals just put forward a document that supposed to be at 11 o'clock came in a little

00:16:55.560 bit early um so eric the president went out and define as much as you can define because remember

00:17:02.980 you're in the middle of a war and you don't want to tell the enemy too much you although you do

00:17:07.960 want to signal maybe your overall intent he did and when we talk about an off-ramp he did say hey

00:17:14.080 look we've decimated uh the military there's more there's still more to do because they're still

00:17:20.060 getting scatter shots into and i think israel last night my understanding is that they had

00:17:26.000 10 missiles launched at them so that's i guess that's more than scatter shot but he did lay out

00:17:32.460 hey this is where we're going to do this as soon as i've done that we're finished except for he

00:17:38.500 laid out some deal with the regime i'm not so sure as much as the regime is getting pounded

00:17:44.620 that they feel in their heart of hearts that they're losing this i think a lot of people

00:17:50.180 in that regime feel that they've shifted that they've taken the initiative and although they're

00:17:54.900 crippled through conventional military uh aspects that they have shifted the center of gravity of

00:18:01.920 this fight to the persian gulf and i think it's pretty evident to everybody although the president

00:18:07.500 praised the arab states last night we know specifically that the arab states have not

00:18:12.940 stepped into a military situation. Whereas UAE was rumored, and I think it was the Wall Street

00:18:18.540 Journal, said they were telling President Trump and prepared to actually participate

00:18:23.240 in active military engagement to open the Strait or Hormuz. The Jerusalem Post is reporting this

00:18:31.780 morning that that's, in fact, maybe inaccurate, that UAE was not that tough on it. So given the

00:18:38.720 fact that president trump um two things i think ruled the markets is number one he did leave it

00:18:45.320 kind of open of whose actual responsibility is to to uh open the strait of hormuz part of the

00:18:52.880 implication it would be the chinese and chinese communist party because his he was very specific

00:18:57.500 on those of you who take the oil not those of you who produce the oil so he got the he got i think

00:19:03.860 the arabs or try to get the arabs off the hook of any uh obligation they have which i think is a

00:19:09.960 huge obligation it should be theirs but he said those who take the oil which is clearly japan

00:19:14.840 the chinese communist party in the nato nations it's your responsibility in addition he did he

00:19:20.540 was very specific and used you know the bomb them to a stone age a phrase of i think curtis

00:19:26.640 LeMay from the Vietnam War in talking about if he didn't get a deal. Now, I want to go back.

00:19:34.640 What do you think happened overnight? How are the markets processing this? Because the numbers

00:19:39.400 we're seeing this morning are much higher and the volumes have been kind of greater. So it looks

00:19:46.040 like you're going to have even a tougher time of drawing these back. And it looks like nothing the

00:19:51.940 president can say is going to do that they're going to look for specific actions uh your thoughts

00:19:58.520 yeah a couple things there steve you're right so it's almost a closed loop so the producing

00:20:02.740 air producing countries are selling to china and india predominantly and and nato countries as well

00:20:09.180 europe um so it's almost a closed loop over there so we don't have a major major issue over there

00:20:14.100 but with oil it's a global market if you have an oil that's cheaper over there to transport

00:20:18.940 it'll bring all prices up um there was that opportunity at one point he said you know what

00:20:24.940 europe and in china you guys take over the the strait of hormuz rubio's right we're not that

00:20:30.300 sensitive to the strait of hormuz oil flowing through there but we are sensitive because it's

00:20:34.600 it's a it's like a tail effect so when middle eastern crude jumps up 10 20 30 a barrel ours

00:20:40.240 is going to as well why not just let them handle it the off-ramp was and he was right there let

00:20:45.580 them handle it we're gonna we did our job we eliminated their ability to deliver a nuclear

00:20:49.420 weapon and the iranian people the persian side of the iranian people could say you know what

00:20:54.200 screw you guys we want something different that was the off-ramp i think the market stayed calm

00:20:59.840 until when he when he was concluding it literally didn't jump until he finished they were looking

00:21:04.680 for a definitive exit strategy and he didn't provide that that would have been a certainly

00:21:11.560 calming tone as soon as he was done steve it was off to the races and we're talking you know

00:21:16.400 hundreds of billions of dollars in value of oil trading from 98 a barrel to 112 where it is today

00:21:23.420 right now is this um speculation or is this people trying to hedge out in in future months

00:21:32.960 what they're what what to make sure that they're covered steve steve speculators right now are

00:21:38.520 fly on the ass of the oil market right now. It's the people I was talking to in Dallas last week.

00:21:44.300 It's the transport companies, the people who are shipping it or even piping oil. And it's more

00:21:50.420 importantly, the refiners. The refiners are very, very jittery. They're very scared of a massive

00:21:55.560 spike, which we've got, or for it to stay this high, this long. Because remember, they have to

00:21:59.820 buy oil. It takes 30 days sometimes to get it through the system, sometimes more if they have

00:22:04.160 to ship it and get it through the system and so they're susceptible these higher prices down the

00:22:09.240 road and that that hurts their business that hurts their margins and they're very very skittish on

00:22:13.400 higher oil prices but to the t to every refiner i talk to and i met with them in dallas one of the

00:22:18.700 biggest in the world and others i talked to they're very nervous about higher price i haven't yet to

00:22:24.360 hear someone and these aren't speculators these are actual physical delivery folks trading it

00:22:29.260 who are, to a person, higher, higher, higher.

00:22:32.880 What do you think, higher?

00:22:33.540 What do you think, higher?

00:22:34.580 Unfortunately, there's no signal.

00:22:36.500 So the markets can go up and down based on rhetoric

00:22:39.100 or based on comments from Trump or the IRGC.

00:22:42.040 But usually those are the ones you fade.

00:22:44.640 You don't buy into it.

00:22:46.160 They're talking exactly what they're seeing,

00:22:48.520 floating on the water, being produced,

00:22:50.280 and being shipped into our refinery systems.

00:22:54.900 Eric, hang on for a second.

00:22:56.240 I want to bring Brandon Weikert in here.

00:22:58.200 we're also going to get curt mills up brandon uh your assessment the president i believe felt that

00:23:02.920 he gave he talked about the off-ramp two two more weeks maybe three of an intense bombing campaign

00:23:09.000 to defang and declaw what's remaining and he said there's not much remain but what's remaining of

00:23:14.100 the conventional military forces and the industrial base the military industrial base of the uh of the

00:23:20.700 iranians he did at the end say hey look we're looking for a deal we didn't want regime change

00:23:25.620 I didn't start with regime change, but we got regime change.

00:23:29.100 I'm dealing or we are dealing with with more logical people and we want to get an arrangement.

00:23:35.080 But if we don't get an arrangement or some sort of ceasefire or at least some sort of agreement, we're prepared to amp this up as a threat, amp this up and take out their energy infrastructure and their oil producing and distribution capacity.

00:23:50.920 Your thoughts about the speech, sir?

00:23:52.980 Well, I thought at that point he was going to say we're done, but unfortunately, and he could easily, I mean, he's right.

00:23:59.720 They've degraded everything they need to.

00:24:01.960 There's not much for us to do anymore.

00:24:04.920 Unfortunately, though, the speech didn't end there.

00:24:07.420 He talked about Korea and World War II being longer than this, and, you know, that gets me a little worried when the president,

00:24:14.020 And I think this might be why the oil market started spiking, because it sounds like he wants to, as he said, he wants to get the job done quickly, he said, but two to three weeks isn't very quick.

00:24:27.520 So in my opinion, I think that he is still stuck in an escalation trap.

00:24:31.960 And it looks to me, just looking at the fact the Nevada Air National Guard has now deployed 24 hours ago.

00:24:39.280 You've got more of the 82nd Airborne coming in.

00:24:41.760 You've got these two MEUs there.

00:24:44.020 Marine expeditionary units. You've got the French military.

00:24:48.800 There was in their media, there's a general who's saying that he knows he's gotten word

00:24:53.180 the Americans are planning to do this uranium hunt in the heart of with our ground forces in the heart of Iran.

00:25:01.800 So to me, this looks like when he says two to three more weeks, maybe that's the time frame he's operating off of.

00:25:08.040 But I think he's got one more escalation in him, which is going to be some form of ground incursion,

00:25:13.580 either to pop open the straight or more likely now to do this Tom Clancy run and gun in the

00:25:19.760 desert with uranium, you know, hunting going on. So I, I'm not convinced that this thing is an

00:25:25.900 off-ramp yet, unfortunately, and I very badly want to be wrong.

00:25:31.440 Brandon, I thought he was pretty specific about the uranium that they had done it, that he had,

00:25:37.260 he had eviscerated their capability. Uh, and that in fact, I think the signal, at least that signal

00:25:42.920 i took was that there wasn't going to be this hunt as uh as the mark levin's you know go get

00:25:48.740 the nuclear pixie dust uh go get it and you got to send people in to do it uh that in fact he

00:25:54.760 wasn't doing that did you actually take it because i know you've been one of the ones most concerned

00:25:59.520 about uh a combat insertion insertion of combat troops whether in carg island along the coast

00:26:06.380 in some beachhead or in some expedition to go find the uranium dust uh did you actually take

00:26:13.100 that did you take that speech as teeing up that possibility because i interpret it as that

00:26:17.980 particularly not talking about it that it's two or three weeks bombing campaign if they don't cut a

00:26:23.080 deal i'm going to really unleash a bombing campaign on their infrastructure but no combat troops you

00:26:27.960 took it differently i i am very concerned just looking at the flows of troops into the region

00:26:34.100 listening to what our allies are saying in their own media the fact that the israelis keep clipping

00:26:40.200 these negotiators that vance is supposed to meet before he can meet with them to me it seems like

00:26:45.840 we are in an escalation trap and so i and and frankly the speech yesterday was very ambiguous

00:26:52.080 that was the most ambiguous speech i mean trump's very decisive i mean you know this he gives these

00:26:56.980 very powerful speeches he says we're doing this but yesterday it was it was almost on the one hand

00:27:03.080 on the other hand type of speech, which is not something I'm used to seeing from him,

00:27:06.960 which indicates to me that A, he hasn't made up his mind, and B, it sounds like the gravitational

00:27:13.140 pull of this conflict is still pulling him toward escalation. Even if he does do an increased bombing

00:27:21.260 campaign where he targets that electrical and energy infrastructure, that's going to have

00:27:27.080 blowback for us because there are capabilities the Iranians still have in the cyber realm.

00:27:32.260 There's possibly electromagnetic pulse capabilities the Iranians have that could potentially lead to real damage being done on the home front here.

00:27:41.780 And I think the president should want to avoid that at all costs.

00:27:44.840 So I would advise avoiding those target sets at all possible because that basically puts your enemy into an impossible position where they won't be able to negotiate.

00:27:56.000 So that's why I say, Steve, I really do think that we're still stuck in an escalation trap.

00:28:01.620 and there's not yet been an off-ramp.

00:28:05.760 Brandon, hang on for one second.

00:28:07.280 We're going to hold you through a break.

00:28:08.500 Take your phone out.

00:28:09.340 Text Bannon, B-A-N-N-O-N, at 989898,

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00:30:16.740 Here's your host, Stephen K. Bannon.

00:30:20.800 As reported yesterday, some of the tolls that are being charged are being paid in Chinese currency.

00:30:28.620 U.S. dollar is under pressure.

00:30:29.900 We're going to talk tonight.

00:30:30.660 Bloomberg's got a story that I'll address this evening on the evening show about the 2027 budget.

00:30:35.700 It looks like, I think, mathematically, even a bigger budget deficit.

00:30:40.720 We'll talk all about that.

00:30:41.880 U.S. dollar is under pressure.

00:30:43.580 We've done the eighth free installment in the End of the Dollar Empire.

00:30:48.180 It's about the U.S. dollar.

00:30:49.260 make sure you go to um birchgold.com promo code war room and make sure that you get the uh make

00:30:57.220 sure that you get um the free it's totally free first seven editions first seven installments

00:31:02.500 free they're now in a bound edition but you still get them free get the eighth edition and we're

00:31:06.940 going to talk with philip patrick about that on saturday but i want everybody to be up to speed

00:31:10.600 on that also our sponsor the great team at patriot mobile 972 patriot call right now talk to somebody

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00:31:38.300 one of the customer service reps today do it immediately uh kurt mills going to join us in

00:31:43.240 a moment but i want to go back i'm going to go back to weikert into bowling here because i want

00:31:47.200 to make sure what the speech i gave at cpac it's important for this audience to come to their own

00:31:55.580 conclusions and think through this complexity through the fog of war and what we hope what

00:32:00.400 we hope to do is provide you the information that you can start to think this through because that's

00:32:04.900 what the president needs for people to have his back as he works through this you can tell last

00:32:09.040 night he is working through it every second of every day brandon weikert uh you bring up a good

00:32:16.780 point about escalation and the escalatory trap which i want you to define in a moment but

00:32:21.660 you say that it's quite evident we are still committing assets and significant assets to

00:32:29.580 the region i don't believe that the gerald art for ford which is up in a naval base in croatia

00:32:36.860 going through some repairs has been ordered home yet i think they're continuing to be part of this

00:32:41.420 operation and the bush is on its way so you now have three at least generally three carrier strike

00:32:46.580 groups associated with this and you've got additional assets particularly potential ground

00:32:52.260 assets and the air cover ground assets would need like a-10s pouring into the region defined for

00:32:58.520 this audience what do you mean by an escalatory trap president trump and bowling's going to talk

00:33:03.640 about this in a minute because for a day or two things were starting to calm down as president

00:33:08.920 trump was talking about he's going to make this address but it was going to be you know implied

00:33:13.440 it was going to be an off-ramp and talk about an update of when this war is coming to an end,

00:33:17.740 you said, hey, that may be his intent, but the actions right now lead these smart people in

00:33:24.360 the world, particularly the traders in these commodity markets, to take a different interpretation.

00:33:29.640 Mr. Weikert. Yeah, so basically, and I highly recommend your audience look up Dr. Robert Pape

00:33:35.120 because he is the godfather of the escalation trap. So I'm just going to kind of parrot what

00:33:40.320 he's been saying here basically it's a feedback loop it's uh you know you try to make a different

00:33:47.480 course correction unfortunately though you keep flowing in you keep doing things that are going

00:33:53.340 to make that course correction impossible uh Vietnam is one of the great examples of an

00:33:59.040 escalation trap we went in it was supposed to be an air war remember then it became we're going to

00:34:04.220 do defensive ground troop movements we're going to protect our bases protect our ships and then

00:34:09.480 of course the enemy gets a vote and the enemy keeps doing things they're not getting defeated

00:34:14.720 the way they are supposed to so then you have to then counterpunch in a way that you think will

00:34:20.620 then allow for them to be defeated and then you can go home and in that whole process basically

00:34:26.480 you you've now essentially become fully committed you didn't intend to lyndon johnson never intended

00:34:32.380 to get involved in vietnam to the level that he ended up being involved in and that's the escalation

00:34:37.720 trap because you can't go down without being defeated so you're not going to want to surrender

00:34:42.140 you're not going to want to be seen as having lost but then you you also the only way to go

00:34:46.800 forward then is to go higher on that escalation ladder and the enemy as long as the enemy keeps

00:34:51.760 meeting you there which the iranians are like the north vietnamese uh you're going to be stuck then

00:34:57.220 in this endless loop this doom loop of well let me go up to the next run let me go up to the next

00:35:01.900 run maybe i can i can outmaneuver them at that higher level and every time the enemy is able to

00:35:07.360 stay with you and able to basically continue fighting back and that's where we are that

00:35:13.480 phrase bomb yeah bomb them into the stone age was came came for that that that uh it's a very

00:35:19.380 unfortunate choice of words by mr hegseth uh the um by uh 64 65 set a set a framework that really

00:35:30.520 had the country wrapped around the axle for another 10 years uh bowling um talk to me because

00:35:37.540 for a couple days the world's market saying okay i kind of feel and the president was talking this

00:35:42.440 down he then said he was going to give this speech people assumed that he's going to do an off-ramp

00:35:49.020 he did say two to three weeks he talked about the defanging declawing process what was it that got

00:35:54.520 what was it got people so worked up? Well, I think it was the whole 48 hours, Steve. If you

00:36:01.980 remember, Trump came and he kind of pivoted a little, which I think he pivoted in the right

00:36:05.800 direction, saying, you know what, this isn't really our thing with the Strait of Hormuz. We're

00:36:10.000 not really susceptible too much to the Strait. It should be NATO, should be Japan, sorry, it should

00:36:15.120 be China, NATO, and maybe even India's job to keep the thing open. And then he said, tomorrow night,

00:36:20.440 we're going to do tomorrow night at 9 we're going to do an address surprise address to the nation

00:36:24.940 and everyone and their brother certainly in the markets thought well this is it this is finally

00:36:29.460 an off-ramp and he's going to take it and you know we can breathe a sigh of relief oil's 100 bucks it

00:36:34.900 should be moving down it started moving into the upper 90s and then when the speech came like i

00:36:40.480 said it settled at 98 before the speech and when the speech came and people were waiting and it

00:36:45.700 Steve, they were waiting until he finished his last word just hoping beyond hope there would be some sort of legit off-ramp or timetable.

00:36:53.560 How about just a timetable for an off-ramp?

00:36:55.480 A few more weeks and we're going to pound the crap out of him in those few weeks.

00:36:59.800 It may be great to hear if you want to see Iran obliterated, which I'm on that camp.

00:37:06.460 But in the oil world and certainly at the pump, it's the worst possible thing you could hear.

00:37:12.320 Bomb them into Stone Age indicates more than just eliminating their ability to deliver a nuke.

00:37:19.420 It indicates a whole heck of a lot more.

00:37:21.440 And it sounds like a whole lot longer.

00:37:23.980 People are smart.

00:37:24.880 You can't bomb them into the Stone Age in a couple of weeks.

00:37:27.600 It would take months, maybe years to do that.

00:37:30.080 So I think that the lack of a defined off-ramp or a timetable is what really spooked, is right now spooking the oil market badly.

00:37:39.080 Yeah.

00:37:39.600 The president wants the NATO allies to step up. He wants, obviously, people taking the oil said, look, Hormuz, cherish it, you know, embrace it, make it yours.

00:37:51.000 At first, he said, go in and take the oil. Are the world's markets also telling us that, look, as much as President Trump may want that, that they see the NATO allies in their navies as deadbeats.

00:38:01.360 They know the Indians have nothing, and they don't trust the Chinese Communist Party to do anything appropriate or for the benefit of others, sir?

00:38:10.700 I would say that they're – why would they until they have to, Steve?

00:38:16.060 So we're doing it as their proxy right now.

00:38:20.320 Smartest move is like, you know what, this is – you're way more sensitive.

00:38:23.680 Your economies are way more sensitive to the Strait of War moves than ours is.

00:38:27.040 It's all yours.

00:38:27.840 So why would they? Why would they spend treasure and blood when they don't have to?

00:38:32.140 The minute we pull out, I pretty much would bet that NATO and some of the other countries, maybe India, would get that straight opened.

00:38:43.180 Eric, where do we go to keep up with you before the 4 o'clock show?

00:38:46.480 You'll be at 4 o'clock. Hopefully we'll do a transition today to the 5. Where do people go?

00:38:50.720 So much news going on in the oil markets.

00:38:52.320 Steven at Eric Bowling across social media that Eric Bowling, the edge on YouTube, that's a different type of show.

00:38:59.560 No politics, but always, you know, the handoff between four and five is great.

00:39:03.220 And right here, we're breaking some ground.

00:39:05.840 Steve, you look back, some of the things that we've been talking about over the past 30 some days have actually come to fruition as we as we go forward.

00:39:16.220 Eric, thank you so much.

00:39:17.560 Brandon Weikert, you've been on fire recently.

00:39:20.140 we're seeing you everywhere our audience loves you where do people track you uh some of them

00:39:26.100 love me uh but uh i they they can track me at we the branded on twitter x nat sec guy at emerald

00:39:32.160 dot tv and uh nat sec talk on rumble and get my books anywhere they're sold amazon or anywhere

00:39:38.300 there's three of them right there and the fourth one is a disaster of our own making

00:39:41.920 how the west lost ukraine thank you sir and by the way you've got one of the best books about

00:39:48.880 uh iran it's amazing book go check brandon waker it's writing out kurt mills uh thank you for

00:39:55.460 joining us we're going to get liz mitra up in a moment uh kurt uh you were unimpressed we thought

00:40:01.040 that the president laid out why he did this whether people agree with it or not what he's

00:40:06.760 accomplished to date what he feels he needs to accomplish and gave a uh a two or three week

00:40:12.220 uh off-ramp till it's over until at the end he did talk about you know wanting a deal or

00:40:18.100 negotiating a deal and that uh if the iranians didn't get with the program there would be uh

00:40:23.980 their potential additional hammer would drop you were you were unimpressed to take it looking at

00:40:29.820 your twitter feed by the speech i thought i thought kurt mills would love it because it finally said

00:40:35.340 we're out of here and you know brandon weiker disagrees with me but i thought he's pretty

00:40:39.960 definitive or it sounded like he had no interest in ground combat troops sir well what he has

00:40:46.820 interested in what he's doing, maybe two different things. I have no doubt that President Trump

00:40:51.720 remains very much the same man who was skeptical of the Iraq war, skeptical of escalation in this

00:40:57.360 conflict. But the fact remains that he is surrounded by a set of sycophants and advisors,

00:41:04.180 potentially, that are steering him in this direction. What I heard from the address last

00:41:08.820 night was a speech that maybe the president shouldn't have given. He indicated that we

00:41:14.660 will be out of there in two to three weeks. And I agree. That's a nice sentiment. But the problem

00:41:20.040 is a lot of people are having flashbacks in this moment to COVID, which is, you know, the president

00:41:25.220 also said 15 days to slow the spread. And additionally, the president announced and the

00:41:32.940 secretary of war was licking his chops to announce that we were going to bomb the Iranians back to

00:41:39.120 Stone Age. So, I mean, what is it? And the administration hasn't shown any command of

00:41:44.980 events thus far. If they bomb the Iranians and the Iranians escalate right back and start bombing

00:41:51.360 desalination plants and Saudis start doing drone strikes and missile strikes on the Gulf and Israel

00:41:57.740 again with real verve, this situation can easily spiral out of control. The president has said a

00:42:04.040 number of things. And some of them are just self-evidently contradictory. And so until we

00:42:09.760 leave, I don't think we're out of it. And additionally, and this will be my counsel to

00:42:13.840 him, he's obviously losing his ability to manipulate the markets. The markets didn't

00:42:18.360 like the speech, and that's going to be a problem for him and a problem for MAGA.

00:42:24.260 You say, I want to go back to things you talked about. No command of events. This is the heart,

00:42:30.200 Let's get to the heart of it, because in a in a military conflict, one of the central things is to be able to enforce your will on your opponent.

00:42:40.340 Now, he has taken one of the most powerful militaries in the world and is in the process in just a couple of weeks of defanging and declawing.

00:42:48.060 And he said, look, I'm two or three weeks away from I think two weeks, maybe three weeks from actually accomplishing that and having shattered not just their military, but their industrial base.

00:42:57.420 Give me a minute on this. We're going to go to break. I'm going to have you stick around. No control of events. What does that mean, sir?

00:43:06.420 Well, I think it remains imminently unclear how real these negotiations actually are.

00:43:12.360 I mean, the Barack Reveed person at Axios is an interesting player. I sort of enjoy him.

00:43:17.120 But one has to wonder with some of these reports, to what degree is the former IDF soldier carrying water for the Israelis?

00:43:23.600 I don't know.

00:43:25.180 I don't think there are serious communications between Tehran and Washington, even if Washington is trying to will it.

00:43:32.420 I don't know if the Iranians will ever enter a room ever again with Jared Kushner or Steve Wyckoff.

00:43:40.020 They seem to only want to deal with Vance to the degree that we can even believe they want to deal with him.

00:43:45.620 And so, you know, that is where we that's where we are on April 2nd.

00:43:49.420 second. We are in a situation where, yes, tactically we have bombed the Iranians. Tactically, we have

00:43:56.120 eroded their naval capacity, some of their missile capacity. And you see Rubio try to defend that as

00:44:01.400 the new war objective. But strategically, we have given a new hardline government control of the

00:44:06.720 straight and the president's popularity is flagging. Hang on. Yeah, Kurt. Kurt, hang on for

00:44:12.120 one second. Short break. If you're 65 or already on Medicare, listen up, folks, and grab a pen,

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00:45:47.720 Here's your host, Stephen K. Bannon.

00:45:50.620 okay i think the atina peters is the remandered the appeals court remandered trial court for

00:45:58.580 resentencing i'm gonna find out what all that means uh momentarily we're gonna get some people

00:46:02.980 up here in the next hour um kurt mills the um you said we don't have command of events

00:46:12.120 uh implied that the initiative has shifted to the iranians that they've shifted the which i've said

00:46:19.120 hey they've shifted the center of gravity of this to the Persian Gulf and the Strait or Hormuz I

00:46:24.500 believe that that was although I agree with the president's sentiments NATO's got to step up and

00:46:28.860 others I think one of the reasons we had the reaction in the oil markets is that the oil

00:46:34.320 market's pretty sophisticated and they just don't think these guys are up to it they look at them

00:46:38.420 as a bunch of you know as President Trump's saying kind of a disorganized clowns they haven't put any

00:46:43.080 resources into naval assets which is what you need to control the Strait of Hormuz and air

00:46:48.540 assets um making it what should people look if you're if your theory is right we don't have

00:46:54.180 command of events what would you see happening over the next couple of days that would put us

00:47:00.740 in a more perilous situation than the president who has now come out addressing the nation not

00:47:06.740 just doing it at a oval office availability or something like that has addressed the nation and

00:47:11.080 said hey we're there for two or three more weeks i have this on the uh on my punch list

00:47:17.240 militarily to take care of. If they don't come to the table, then, hey, maybe we have to escalate,

00:47:24.060 but I'm going to try to deal with that. What should people look for to your theory that

00:47:28.560 maybe the Iranians actually have the initiative here? Well, number one, the Israelis keep trying

00:47:35.020 to assassinate interoculars on the Iranian side with the Americans. So the Americans' ability,

00:47:41.720 or lack thereof of constraining our, quote, ally, I think, is a key facet here.

00:47:47.580 Number two within that is whether or not the Israelis start some of these more gnarly attacks,

00:47:52.960 bombing the oil facilities, which blacken the skies of Iranian cities, that sort of thing.

00:47:58.400 I think there's every indication that they might start doing that.

00:48:01.920 And then additionally, you know, just remembering the macro here.

00:48:04.820 Hold it. Hang on. Hang on. Whoa, whoa, whoa, whoa, whoa. Hang on. Hang on.

00:48:07.880 have i my understanding there's direct order that that is not to happen by the commander-in-chief

00:48:13.840 and this is why he said if i can't get a deal we'll take out the grid and maybe even get to

00:48:18.660 taking out their energy resources because that that would get you to 150 bucks pretty quickly

00:48:23.680 my understanding and so do you have information out there as differently that since they did it

00:48:28.880 in tehran a couple of three saturdays ago and then the inflection point of this war was attacking the

00:48:34.680 Qatar's uh gas field the joint gas field they managed with the Iranians that the president

00:48:39.880 in no uncertain terms told Bibi hey that's not to happen again and that is a standing order

00:48:45.920 you think they you think that America's greatest ally would actually go against a direct command

00:48:52.360 of the commander-in-chief to take it upon themselves to attack the oil infrastructure

00:48:57.640 and gas infrastructure of the Iranians sir yes I think they would do it and I think

00:49:04.560 Or another spectacular operation that is spiritually similar.

00:49:09.200 And so I think the reality is that they are trying to eliminate off-ramps for the president to take.

00:49:16.580 That is why they assassinated Laron Jani, who was the most likely interlocutor with the administration to get this war done.

00:49:24.060 And I think Israel wants this war to continue for the foreseeable future, and they want the Americans to bear the battle.

00:49:30.860 I mean, very tellingly, the Israelis ruled out ground troops of their own for the war, which I think is a spectacular admission that they are willing to fight this war to the last American.

00:49:47.900 Brandon Weikert said, we only got a couple of minutes.

00:49:51.160 I appreciate your time.

00:49:52.000 I know you got to bounce.

00:49:53.900 Brandon Weikert said he thought the speech teed up the possibility of actual ground troops.

00:49:57.580 I took it the exact opposite, but I'm just one voice in the wilderness here.

00:50:02.400 Did you take it that the president actually implied we could have ground, we could have the insertion of ground troops, given his speech last night?

00:50:10.600 I think that's the most likely escalation at this point.

00:50:14.780 I mean, I don't know what more of the United States could do.

00:50:18.300 You know, I think that they've weighed a number of options, special forces units to go in to take the nuclear material, the seizure of Karg Island.

00:50:26.520 I think if we are going to escalate, that's the kind of the direction we would go in.

00:50:31.000 I think the speech last night was 70 percent a rehash of what Trump has said online and elsewhere and 30 percent tilting towards escalation.

00:50:39.960 I understand he said this could be over in two to three weeks, but until it's over, it's not over.

00:50:46.220 And so you think when he says two or three weeks, we will have all of our objectives.

00:50:51.620 And he went through those objectives again as Ruby has been pitching them.

00:50:55.380 all of those objectives, which can be done essentially by air, do you still believe

00:51:00.880 it leaves open the possibility of ground combat troops? Yeah, I think it's possible. They change

00:51:06.060 what the objectives are every day. I mean, Rubio is hawking this missile line. Apparently,

00:51:11.420 we no longer care about Iranian nuclear material, which was the entire reason for caring about Iran

00:51:16.220 in the first place. Now it's their missiles. I just don't think it's out of the question that

00:51:20.420 they'll shift the narrative again. This war is not going to end, in my view, until the president,

00:51:25.660 until this administration tells Benjamin Netanyahu in Israel in no uncertain terms, no, we're out.

00:51:34.480 And you don't believe that that speech last night was the tee-up for that?

00:51:37.980 No, I don't think so. We saw a reiteration of a lot of the propaganda and talking points for the

00:51:46.880 war, we did not see a frustration with Israel. In fact, it was barely, I think Israel was only

00:51:55.320 mentioned once, and he did give a shout out to the Arabs as being involved in this. And the one

00:52:00.120 thing I would disagree with the president, I don't think they've been engaged at all. In fact,

00:52:03.160 the Jerusalem Post is reporting, counter to the Wall Street Journal, that UAE actually,

00:52:08.720 the Wall Street Journal reported that, hey, they were all in militarily to help reopen the Strait

00:52:14.200 Hormuz, and now the Jerusalem Post, I think, is reporting the exact opposite. Anyway, Kurt,

00:52:18.580 thank you so much for joining us. We're going to get you back on. Where do people in the interim,

00:52:23.360 you're in the lineage of Pat Buchanan. Where is that?

00:52:28.940 Yeah, so www.theamericanconservative.com is the American Conservative magazine here in

00:52:34.780 Washington, D.C. You can find my own work at C-U-R-T-M-I-L-L-S on X. Thank you.

00:52:41.060 thank you brother appreciate you coming on we will bug you over this uh the easter

00:52:48.600 holiday weekend to come back on maybe now my patriot supply go to prepare with bannon.com

00:52:56.360 i think it's a good time to talk to the people at uh my patriot supply they are the leaders in

00:53:02.720 the space for everything related to preparation they've got a special three-month food kit

00:53:08.680 includes a free mega protein upgrade this originally about a thousand bucks 997 now

00:53:15.740 roughly 800 bucks 200 saving plus they throw in a couple of hundred dollars of free mega

00:53:23.240 protein upgrade the key thing is talk to the customer service reps if you know

00:53:28.480 zero about preparation my patriot supply is the company you want to go to prepare with bannon.com

00:53:37.640 It's its own special site just for the war and posse.

00:53:40.060 Prepare with Bennett.com.

00:53:41.340 Short break.

00:53:42.400 Liz Troutman next.

00:53:46.420 The American health care system is broken.

00:53:49.780 And for most Americans, nothing changes.

00:53:52.380 There's still delays, denials, high cost insurance roadblocks.

00:53:56.560 So when I find people doing things differently, I talk about it.

00:54:01.520 All family pharmacy is not your typical big chain pharmacy.

00:54:04.920 This is an independent, family-owned pharmacy that gives you access to over 400 medications delivered straight to your door.

00:54:13.520 They've got ivermectin, antibiotics, antivirals, NAD+, even your daily maintenance medications, and so much more.

00:54:23.680 If you already have a prescription, your doctor can send it directly.

00:54:27.380 If you don't, their doctors handle it.

00:54:30.060 As long as there is a medical necessity, they'll take care of you.

00:54:34.580 And I'll tell you this, the feedback from people listening to this show and watching

00:54:37.780 has been incredibly strong.

00:54:40.480 People are using it.

00:54:41.560 It's working for them, and they're sticking with it.

00:54:44.080 That's because it cuts out the delays, the middlemen, and all the usual nonsense.

00:54:49.500 This is about being ready before you need it.

00:54:53.700 Go to allfamilypharmacy.com.

00:54:55.820 That's all one word, allfamilypharmacy.com slash Bannon, and use code Bannon10 to save

00:55:02.380 10%.

00:55:02.940 The health care system is broken.

00:55:05.860 Your pharmacy doesn't have to be.

Bannon's War Room - April 02, 2026

Episode 5266： Where We Stand In An Offramp To The War; Cutting An America First Deal

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