Bannon's War Room - Episode 5465： The Deal Behind The SpaceX IPO; Who Really Is Pope Leo

00:00:00.000 this is the primal scream of a dying regime pray for our enemies because we're going to

00:00:10.260 medieval on these people here's not got a free shot all these networks lying about the people

00:00:16.860 the people have had a belly full of it i know you don't like hearing that i know you try to do

00:00:21.020 everything in the world to stop that but you're not going to stop it it's going to happen and

00:00:24.360 Where do people like that go to share the big line?

00:00:27.640 MAGA Media.

00:00:29.000 I wish in my soul, I wish that any of these people had a conscience.

00:00:34.420 Ask yourself, what is my task and what is my purpose?

00:00:38.180 If that answer is to save my country, this country will be saved.

00:00:44.380 War Room. Here's your host, Stephen K. Vann.

00:00:47.760 uh the 10th year of uh of brexit uh and i want that last clip in the cold open i'm gonna play

00:00:58.020 that when we play the uh the part about the pope's neighborhood with uh cortez steve you've been

00:01:03.360 there but i want to finish on this i think one of the things that besides the business plan to make

00:01:08.580 a lot of sense at these at these heightened valuations i'm not sure everybody realized

00:01:14.460 maybe the insiders did and the sophisticated investors i'm not sure

00:01:18.540 the uh the retail investors heretofore referred to as the schmendricks not the way they get

00:01:24.160 treated because only the best deals as you know steve are there for the retail guys

00:01:28.400 right i'm not sure if people fully understood that oh by the way besides raising 80 billion

00:01:35.640 dollars in the ipo they're going to raise another i don't know 20 40 60 80 billion dollars in debt

00:01:40.520 securities and they're pricing debt right now. And as you said, that's going to be pretty expensive

00:01:45.720 since things are moving around. What is your take? Do you see analogies here to back to 2007,

00:01:53.000 2008 in the institutional fiduciary responsibility to basically America's capital, sir?

00:02:01.860 Yes. Yes. I think there are certainly similarities. And Steve, regarding this specific

00:02:05.820 stock of SpaceX. A lot of wealthy folks I know, they got in this very, very early. I don't mean

00:02:11.120 just barely pre-IPO. I mean way pre-IPO, right? They're in from $30, $50. So you have to always

00:02:17.560 pay attention when assets are being sold from strong hands to weaker hands, right? Or from

00:02:22.620 sophisticated institutional people to retail folks, to the general public. That is often a

00:02:28.580 warning sign. Now, not every time, but it often is. And Steve, I think you're unfortunately

00:02:33.100 exactly correct in your analysis that the entirety of our economy right now with $40

00:02:38.620 trillion in debt has become an extremely levered bet on a productivity revolution from AI.

00:02:45.660 Now, is that possible to come to fruition? It is. I'm not discounting it entirely. I'm not. And I

00:02:50.620 think there are amazing benefits from AI as well as terrible risks. So it is possible that it works.

00:02:56.440 But the point is, we have pushed all the chips in on a really, really risky bet, a very risky levered bet.

00:03:04.600 And the United States just shouldn't be in that position.

00:03:07.300 We should not be.

00:03:08.560 We are so much more indebted.

00:03:09.960 I want to break this down because it's leveraged in two areas.

00:03:14.360 Number one, the country's highly leveraged.

00:03:17.380 I keep saying there's $300 trillion of debt in the world.

00:03:19.920 We're going to have the world's largest margin call.

00:03:22.420 So the country's leveraged.

00:03:24.840 You know, you got Pete going up, yeah, two days ago and asking for $70 billion for this

00:03:29.500 new war, which I say, hey, simple, you got $50 billion in uranium cash and these banks

00:03:33.980 sweep it.

00:03:34.580 That's the $50 billion down payment.

00:03:37.500 Then on the company level, which I think people are missing, this is also highly levered,

00:03:44.240 as you've seen in SpaceX already.

00:03:46.280 They're going out to the bond market.

00:03:47.700 And understand something, folks, that equity is in back of that $20 billion or $40 billion

00:03:52.100 or wherever they raise that debt right now.

00:03:54.680 All of this, every business model I've seen for the overall financing

00:03:58.440 of artificial intelligence has at least a trillion dollars of debt in there.

00:04:04.320 When they talk about it's going to take five, six, seven, eight trillion

00:04:06.520 to build this out, there's always that slug number

00:04:09.940 as a trillion to a trillion and a half dollars that, hey,

00:04:12.040 is going to have to need government guarantees, taxpayer guarantees.

00:04:15.780 I mean, the thing is so – it's highly leveraged as a nation

00:04:19.940 that we're focused on making this bet

00:04:22.580 and allowing these oligarchs to have it,

00:04:24.280 that bet is highly levered.

00:04:25.780 It's like double leverage.

00:04:27.800 And here's the key, and by the way,

00:04:29.720 if you read the perspectives of SpaceX,

00:04:33.220 they talk about the total addressable market,

00:04:35.600 TAM, this new buzzword they got.

00:04:37.500 The total addressable market is $26 trillion

00:04:39.500 for everything he wants to do.

00:04:41.120 If you get into the analysis

00:04:42.460 and look at some of these experts breaking it down,

00:04:44.980 essentially every job in the United States

00:04:46.780 would have to evaporate

00:04:48.100 for this artificial intelligence. So it's a highly leveraged bet on these massive productivity

00:04:53.340 increases that also people are kind of wishing away the fact that you're going to have mass

00:04:58.300 layoffs of high value added jobs for folks with careers and are taxpayers and are good

00:05:04.540 householders in our communities will be wiped out if these projections are to be hit to make

00:05:11.120 these equities worth anything of value, sir. Right. So Steve, you know, and you mentioned

00:05:16.240 the great financial crisis, you know, 07, 08, I think that the more apt comparison probably is

00:05:20.780 the dot-com bubble following the year 2000. And for this reason, because what you have to realize

00:05:26.860 is ultimately what was promised from the internet did in fact come to fruition, right? I mean,

00:05:32.300 in other words, the internet was as revolutionary to our lives as projected and still the market

00:05:38.180 crashed, right? Because it was too far ahead of itself, even though, again, the underlying theme,

00:05:43.960 the underlying fundamentals were actually there. They were accurate. So the same could happen with

00:05:48.300 AI. Like AI can be everything that we're being promised right now by the tech crowd and the

00:05:53.620 market can still crash because a bubble still forms because that's just human nature. We are

00:05:58.140 emotional beings in many ways and we often misallocate capital on a big basis. But here's

00:06:03.820 the difference and here's what scares me compared to there was enough damage from the dot-com bubble

00:06:09.620 But here's the difference. We went into that with almost no debt. All right. Because the budget had been balanced in the 1990s. So we were not a deeply indebted nation. We are now. And so I think it's far more frightening, actually, because if we now have that bubble burst, let's say let's say it is a bubble and AI crashes.

00:06:27.320 You know, to your point, we've never been more dependent on the wealthy in all of American history to finance this massive debt because the wealthy pay almost all of the taxes.

00:06:37.540 And we have such a massive interest bill that we are totally dependent on the wealthy.

00:06:42.300 The wealthy derive most of their wealth, not from income, but from assets.

00:06:46.140 So if you have an asset crash, which is possible in these stocks, if you have an asset crash, we are going to have massive problems paying our bills, simply paying the interest on the debt that we've already accumulated.

00:06:58.360 That scares the heck out of me.

00:07:00.340 No, no.

00:07:00.980 It's a combination of the dot-com and the 08 because you've got the highly leveraged power for the nation and also for the individual companies.

00:07:09.280 OK, here's what I'm going to do.

00:07:10.560 Let's break out just the Fauci part of it.

00:07:12.400 I'm going to do a Pulte.

00:07:14.040 We're going to do Pulte and D&I with Captain Finnell, since he's an intelligence expert.

00:07:17.880 There's a lot breaking on Bill Pulte we're going to get to in a second.

00:07:20.800 Let's play Steve Cortez on Fauci.

00:07:24.360 You know, Katie, no exaggeration. 0.65

00:07:26.900 Fauci is the most monstrous and malicious figure in all of American history.

00:07:32.160 Think of the damage wrought by him. 0.97

00:07:34.180 So he lied.

00:07:35.520 He criminally lied, perjured himself under oath to cover up the fact that he was secretly using our money

00:07:42.000 to fund the very lab that created this epidemiological dirty bomb that was unleashed 0.63

00:07:48.380 upon the world. And think about the further sequence. What did Fauci then do? Rather than 0.55

00:07:52.960 trying to confront this concocted virus as a medical professional, instead, he launched a

00:07:58.960 massive propaganda campaign to use fear and panic to compel the American people into submission

00:08:05.580 to his ludicrous edicts so that he could become effectively a dictator, at least for a time,

00:08:10.940 over the United States. It's hard to think of a worst series of actions from a single individual

00:08:17.380 in all of U.S. history. Dr. Fauci did more damage to this country. He caused more misery, more death,

00:08:23.320 more financial catastrophe than any foreign adversary of this country has ever dreamed

00:08:28.920 of inflicting upon the United States. Now, hopefully the new DNI will get to the bottom

00:08:35.820 of this because Tulsi Gabbard on her way out the door dropped a dirty bomb on Fauci. Talk to us 0.98

00:08:41.100 about that, sir. Yes. And these receipts are as damning as anything we could have imagined. You

00:08:47.540 know, I was not exaggerating there. I said that Fauci is the most malevolent figure in all of

00:08:53.360 American history. And yet he's a free man, enjoying his wealth, enjoying his life. Now,

00:08:59.120 I realize he was pardoned. Number one, I think that pardon can be challenged because of the

00:09:03.660 auto pen issues. But regardless, he should be charged. Let's have that fight in court. Let's

00:09:08.540 perk walk him. Let's charge him. Let's at least make him defend himself. And then we can fight 1.00

00:09:13.060 over how relevant the pardon is. Another issue, by the way, here is, as we saw the left do on sham

00:09:18.900 prosecutions of Trump, is that states can prosecute. So why isn't the state of Florida,

00:09:23.300 for example, looking into prosecuting Fauci for his crimes against the people of Florida? Because

00:09:29.040 we now have the receipts. I mean, I think what most of us knew through common sense has now

00:09:34.980 been proven with receipts. At the very least, he perjured himself. I think he committed far more

00:09:39.860 dastardly crimes than that. But at the very least, he perjured himself under oath. And he

00:09:45.260 perjured himself to try to cover up those far more insidious underlying crimes, of course. But

00:09:50.140 when you look at the sequence of what he did in terms of secretly using U.S. money to fund the

00:09:56.000 very virus, which was then unleashed on the American people. And once the virus hit our

00:10:01.340 shores, instead of acting like a responsible physician, instead of acting like a public

00:10:05.500 health authority, what did he do? He immediately switched into propaganda mode. He organized

00:10:10.960 the corporate media, as well as the U.S. intelligence community, to cooperate with him

00:10:16.860 in a massive cover-up of what he had done and to stoke totally irrational fear that sent our

00:10:23.980 country into a panic, into a totally preventable and unnecessary panic that had nothing to do with

00:10:29.760 public health, but had everything to do with trying to defeat Donald Trump at the ballot box

00:10:34.380 and basically installing Fauci as a de facto dictator over the United States. And Steve,

00:10:40.720 I, for one, am not going to just forget about these lessons. We can't just move along,

00:10:44.760 especially now that we have these receipts, right, of actual emails, actual conversations of Fauci

00:10:49.760 engineering a cover-up. I mean, you want to talk about a RICO violation. This is a clear

00:10:56.160 RICO prosecution. And again, I don't want to hear about his pardon. There are other ways to go after

00:11:01.420 this man, and we should challenge that pardon, because was it even legitimate? Was Joe Biden

00:11:05.360 actually able to decide? Did he have the cognitive ability to decide, I'm pardoning Fauci, and did

00:11:10.880 he put pen to paper and do so? I think very strongly the answer is probably no to all of the

00:11:16.260 above. But the point here is the American people, we have better transparency now, thankfully,

00:11:21.580 thanks to the DNI, but we need not just transparency, that's key, but we also need

00:11:25.780 justice. We need accountability. Should this be a high priority? Bill Pulte, I've never seen a

00:11:31.580 meltdown. We're going to get to Pulte. We've got some clips and I'll get Captain Finnell's thinking

00:11:36.220 on this, but Pulte, should this be a priority since Tulsi dropped on her way out the door? I'm

00:11:41.940 sure there's a lot more there. Should he make this a priority? And Todd Blanche, they are obviously

00:11:46.640 two individuals very close to the president, understanding how important this is. And look,

00:11:52.280 what Tulsi dropped, Miranda Devine did an amazing job the other day over at the New York Post and 0.95

00:11:56.400 really walked through it. Should this be Pulte's priority coupled with Todd Blanche's priority?

00:12:02.800 Steve, for both of them at the DNI and the DOJ, this should be priority number one, two, and three.

00:12:08.080 because, again, think that we are still dealing with the damage wrought by Tony Fauci.

00:12:13.180 When we were talking about those $40 trillion in debt,

00:12:15.260 a lot of that is because of the COVID panic, of course, right?

00:12:17.620 Because we had to shower money all over the country because we made everybody go home.

00:12:21.360 Think of the damage that we are still suffering regarding our children.

00:12:25.180 Steve, test scores are still tanking.

00:12:27.380 We're nowhere near where we were in 2019, pre-COVID panic.

00:12:31.620 So children have suffered miserably for years now.

00:12:35.280 Some of them will never recover.

00:12:36.420 Their lives will never be the same. Some of those children are never going to read at grade level or at age level because of what Tony Fauci did to them, because of his crimes and treachery.

00:12:47.160 So, you know, given how manifest the effects of his crimes were and are going forward and going forward as well, I think it has to be priority number one.

00:12:56.580 Absolutely. For the DNI and the DOJ, we need even more transparency and then we need justice.

00:13:03.020 We need accountability, and don't use the pardon as an excuse.

00:13:06.400 There are many ways to go about this.

00:13:08.880 I want to hold you through the break.

00:13:10.340 I've got to get to this pre-vost documentary, the post-documentary making, because it ties in with the 10th anniversary of Brexit.

00:13:17.780 What caused Brexit, why it has not been implemented. 0.70

00:13:21.140 But before I leave, Steve, you were the first voice back in old war room pandemic that would come on here and talk about the R word, reparations from the Chinese Communist Party. 0.78

00:13:30.860 That seems to have been lost.

00:13:32.180 People are saying, oh, China won in this Iran thing. 0.73

00:13:34.760 They're going to get their oil.

00:13:36.840 Captain Fennell is going to be here, but all kind of super weapons they're deploying now

00:13:40.620 and all this stuff they're doing in the South China Sea. 0.91

00:13:43.040 How have we lost the conversation that the Chinese Communist Party did this to the world 0.94

00:13:47.620 and they are obligated to repay the world, sir? 0.96

00:13:51.760 Yes, the Chinese Communist Party unleashed an epidemiological dirty bomb upon the world, 0.97

00:13:57.540 including the United States. 0.97

00:13:59.360 Now, we owe the Chinese a lot of money, trillions of dollars. 0.95

00:14:02.660 And I think this needs to be done in an orderly way. 0.98

00:14:04.900 But we need to say, hey, guess what?

00:14:06.500 A good portion of that debt, it's canceled.

00:14:08.860 It's canceled as reparations for the biological war you declared against us.

00:14:14.280 Steve Cortez is with us.

00:14:15.760 He's making a new documentary.

00:14:17.220 It's going to, I think, be a wake-up call for some people.

00:14:21.540 Stick around.

00:14:22.220 We're going to be back in a moment.

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00:16:44.280 Here's your host, Stephen K. Mann.

00:16:46.740 Cortez, what you're doing, you're going to explain to the audience,

00:16:57.020 it ties back to Brexit because Brexit was driven by the issue,

00:17:03.300 not just of England's sovereignty, but most importantly,

00:17:06.100 it's sovereignty away from the party of Davos and Brussels because of immigration. 0.88

00:17:11.360 And it's only gotten worse.

00:17:12.340 The Tories have not implemented, on the 10th anniversary,

00:17:15.020 The Tories had eight years. Labor's been there, too. For eight years, the Tories allowed, and I think of the 13 million that have come in the last 10 years to England, which only had a population at the time, I think, of 70 million, eight or nine million, 10 million came in under Tories, you know, just a floodgate.

00:17:36.980 And we had, I'm going to play at the end of this thing, a part of the cold open, where they're now taunting.

00:17:42.860 And when you start rolling them up, they're sitting there going, it doesn't matter.

00:17:47.280 There's 200 million of us coming.

00:17:49.560 Europe's over.

00:17:50.380 I mean, they're upping your grill in the most arrogant way possible.

00:17:53.720 Talk to us about this, Doc.

00:17:54.940 Right now, correct me if I'm wrong, you're number one on Twitter news trending with just what you put out so far, some of this footage you put out so far?

00:18:03.240 That's correct.

00:18:03.760 So if you go right now to Twitter news, the number one story is Steve Cortez filming Doc in Pope's hometown.

00:18:09.880 So that's great.

00:18:10.620 It's really created a buzz already.

00:18:13.020 And we're a long way from the actual Doc being edited and done.

00:18:15.560 We're just shooting.

00:18:16.780 But even just the videos and the pictures that I posted so far have started a lot of controversy and a lot of conversation.

00:18:23.220 What I am highlighting, Steve, is that Dalton, Illinois, and a lot of folks, they know the Pope's from America.

00:18:27.600 They know maybe the Pope's from Chicago, but that's about it.

00:18:29.780 I don't think they know specifically where he's from.

00:18:31.620 He is from Dalton, Illinois.

00:18:32.960 I grew up right there, right down the road in the south suburbs.

00:18:36.080 It's adjacent to the city, but this is not any suburban paradise, far from it.

00:18:39.940 Now, when he grew up, it was a really pleasant, wonderful, middle-class place.

00:18:44.580 It was a very Catholic, working-class town.

00:18:47.280 It was a place where people thrived in neat small houses, tidy small houses, and thrived on a single income.

00:18:53.900 It is anything but that now.

00:18:55.760 It is far, far from pleasant.

00:18:57.520 It is dirty, dangerous, crime-ridden.

00:19:00.080 It is a disaster.

00:19:01.220 I filmed literally on his street, on the street where he grew up.

00:19:04.720 Now, his home has been restored.

00:19:06.180 It's okay because he's Pope, but the rest of the block is a disaster, as I show.

00:19:10.900 I mean, look, the video doesn't lie, all right?

00:19:12.780 The camera lens doesn't lie.

00:19:14.420 Boarded up homes, broken glass, weeds everywhere, terrible crime statistics, total educational failure.

00:19:21.000 I go to his school.

00:19:21.860 This is really sad, Steve.

00:19:22.920 I go to St. Mary's Church, his church and school, his parish, the Pope's home parish, Steve.

00:19:28.420 It is abandoned.

00:19:29.180 It's been closed down for years. Almost every window in the place is broken. It's just tragic.

00:19:35.200 This is where the Pope was educated, where he learned to read and write, where he learned to

00:19:39.140 love the Lord. And I show in my videos and my pictures, there's literally at this church,

00:19:44.000 which you can tell was once beautiful, there's literally a huge hole in the stained glass

00:19:48.840 directly behind the Virgin Mary above the church entrance. And I think that unfortunately is

00:19:53.960 symbolic and representative of the broken glass and broken dreams of Dalton, Illinois. And what

00:20:00.180 I'm examining in this documentary is why did this happen? It wasn't bad luck. It wasn't the business

00:20:04.840 cycle. This didn't have to happen. It wasn't inevitable. Why did this town fall apart? Mine

00:20:08.920 did as well, by the way. Park Forest, where I grew up, right near there. Same exact story,

00:20:12.880 same exact time. My parish is closed. I went to St. Lawrence O'Toole, my home parish, and show it

00:20:18.080 overgrown with weeds, a school that was thriving when I was a kid. I'm one of six children. We all

00:20:23.980 went to St. Lawrence O'Toole, K-8, got a fantastic education from the Dominican sisters there,

00:20:29.080 and we did it on a single middle-class income. It was a wonderful working-class parish,

00:20:34.620 closed. Steve, all the parishes around there closed. The industry is gone. The entire region

00:20:39.880 is a disaster, and I'm examining why. And then the two main reasons, I mean, I'll give the audience

00:20:44.800 a preview, the two main reasons, in my view, are globalization and offshoring. So what that

00:20:49.540 force did to the industrial working class jobs that were in this area and Dalton Riverdale

00:20:55.460 area where the Pope grew up was an industrial powerhouse. Lots of factories, all gone. So

00:21:00.360 that's the first factor. And then the second is miserable, abusive housing policy, particularly

00:21:06.680 regarding Section 8 housing, which flooded government low-income housing, mostly single

00:21:11.680 parent low-income citizens into this area and basically spread what was sort of concentrated

00:21:19.420 urban problems all throughout the suburbs and turn these suburbs into effectively ghettos and 0.62

00:21:24.760 it happened really really quickly to the pope's hometown and to my hometown can we play the can

00:21:29.900 we let's play some of the footage that that's uh that you've put up online let's check it out

00:21:33.940 I am in Dalton Riverdale, south side of Chicago, the Pope's hometown. This was a thriving middle

00:21:42.180 class community when he grew up here. Families could succeed on a single income. He went to

00:21:47.780 church and school here at St. Mary's. As you can see, it's abandoned. It's shut down. There's broken

00:21:53.280 glass in the stained glass right behind the Virgin Mary herself. This community is now sad.

00:21:59.580 It's tragic. It's dangerous. It's dirty. It's downtrodden. This wasn't bad luck. It's terrible

00:22:06.520 policies that ruined communities all across America, ruined middle-class thriving communities

00:22:12.880 all across this land. Does the Pope care?

00:22:18.740 How was the combination of globalization, which took all the jobs out and sent them to lower

00:22:24.080 income country. So the corporatists could pay us less, could pay working class people less,

00:22:30.380 coupled with Section 8 housing. How did that combination deliver the tragedy of these towns

00:22:36.280 today? Yeah, the tragedy of Dalton. And by the way, this didn't just happen in the South

00:22:40.600 South of Chicago. This happened all over America. So I'm highlighting Dalton because it's the Pope's

00:22:45.360 hometown and because I also lived this and I know it very well. It was in my teen years,

00:22:49.540 essentially, in the 1980s into the 1990s, when things reversed and reversed fast and pleasant 1.00

00:22:55.160 working class communities turned into really dirty, dangerous places practically overnight. 1.00

00:23:00.580 But yes, so you had these twin forces. And in that case, it wasn't, you know, so this is pre-China, 1.00

00:23:04.700 right, becoming a major trade predator. This is more about NAFTA. So that offshoring was already

00:23:08.980 starting. Of course, it accelerated massively with China into the WTO. But this was starting 0.94

00:23:13.480 to happen in the 80s and 90s. People might forget that now. So it was the offshoring of jobs,

00:23:18.420 primarily accelerated by NAFTA and then at the same time what the federal government did and

00:23:23.860 it's still doing it by the way this part is still going on this section 8 madness the federal

00:23:28.500 government tells folks who are on public assistance for whom we are paying the rent

00:23:34.040 instead of you living in high-rise projects for example on the south side of Chicago like the

00:23:38.520 Robert Taylor homes we're going to tear those down but we're going to give you vouchers we're 1.00

00:23:42.360 going to continue to pay your rent but it's at a rate where you can only go to working class 0.91

00:23:46.940 communities, right? So in other words, in a place like Chicago, they can't go to the North Shore 0.95

00:23:50.800 and go live in Kenilworth or Winnetka with their Section 8 vouchers, but they could afford to go

00:23:55.900 to Dalton, to go to working-class communities with small, tidy homes, and they could afford

00:24:00.840 to go there. And guess who gets prioritized in Section 8? Single-parent households. So you

00:24:06.240 are literally incentivizing. You're saying, we want broken homes, low-income broken homes, 0.99

00:24:11.420 to go into Dalton, and the government, the people, we are paying their rent, okay? Now, in theory, 0.97

00:24:17.440 maybe it sounds good to say, okay, we don't want this concentration of poverty and pain

00:24:21.020 in the projects, but what are you doing? You're eventually just spreading the pain out,

00:24:25.760 and you're ruining what were formerly really orderly, wonderful, supportive communities,

00:24:30.860 and this isn't theory, okay? This happened. It happened in Dalton. For example, in Dalton,

00:24:35.200 think about this. Think about the education that the Pope undoubtedly got there at St. Mary's,

00:24:39.160 And even if you're a critic of the Pope, you have to admit the man has an incredible intellect, right?

00:24:43.100 He just wrote a 40,000-word encyclical.

00:24:45.880 That brain, that mind was formed at St. Mary's in Dalton.

00:24:49.700 That same town of Dalton right now, Steve, 9% of students are math proficient.

00:24:55.580 9% in Dalton, in the Pope's hometown.

00:24:59.500 By the way, the superintendent of schools, we want to talk about corruption and terrible government.

00:25:03.640 Superintendent of schools, you know how much he makes in a town where a house doesn't even cost $100,000?

00:25:07.520 he makes $525,000. And he's about to retire at the age of 55. Okay, 55 isn't old. I'm 54. It's

00:25:16.320 not old. He's about to retire at 55, Steve. He's going to make $325,000 a year for the rest of his

00:25:22.600 life. And 9% of the kids can read. And to draw this back to the Pope, does the Pope know? Does

00:25:29.780 the Pope care? Why is his parish shut down? Why is every window in his school broken? How can he

00:25:35.740 not take care of that. I'm appalled at what happened to my school, but I'm not the Pope,

00:25:39.360 okay? I don't have the ability to snap my fingers and take care of St. Lawrence O'Toole, although I

00:25:43.540 wish I could because it was sad. It was tragic to go there and see my school as well, and we filmed

00:25:47.840 it. This will all be in the documentary, and I'm not trying to make it about me. It's far more about

00:25:51.840 the Pope, but I do want the audience to know that I lived this, and in some ways, I lived it worse

00:25:56.600 than the Pope because the Prevost boys were old enough that they had sort of aged out. They were

00:26:01.000 already into adulthood when things fell apart. So they only knew the nice Dalton, okay? I knew sort

00:26:05.760 of the nice Dalton and then the terrible Dalton because that happened during my adolescence and

00:26:11.240 had a front row seat for it. And again, this isn't just a Dalton story, not just a Chicago story.

00:26:15.660 This happened all over the country, particularly in the older cities, in the older industrial

00:26:19.400 bases. Happened in Philadelphia, in a lot of places in Michigan, and clearly happened on the

00:26:24.220 south side of Chicago. So I think this is a story that needs to be told, and I hope that the Pope

00:26:29.900 and his brothers will watch this documentary and I hope they'll take action. I hope they'll say,

00:26:33.720 you know what? We've got to help Dalton. This was a wonderful place. Now it's a place of pain and

00:26:38.300 it shouldn't be that way. It's outrageous that we tolerate that, especially when it's the town

00:26:43.420 that produced the first American Pope. I mean, that's something to really be proud of for the

00:26:47.460 people of Dalton, but they don't find much to be proud of in Dalton. And it's a place of pathology

00:26:52.840 right now. And I show that it is a, it's a disaster. And I'm not exaggerating when I say

00:26:57.840 that. You can look at any metric. I mentioned the educational collapse. You can look at any metric.

00:27:02.680 The place is a disaster. And I think it'll shock a lot of people who don't know much about the

00:27:07.280 Post's background or don't know anything about Dalton, Illinois, his hometown.

00:27:11.920 When is the film going to be ready? When are you going to have it up so people can see it in all

00:27:15.860 its glory? Yeah, not for a couple of months. I filmed so many of these documentaries, so it's

00:27:20.460 got to get in the stack. And my next one coming up is on Gavin Newsom, exposing him for the Palisades

00:27:25.820 fire and the failure to rebuild so i've got several in front of that but but it will be out

00:27:30.180 within a couple months but i will tell you this i've never had just a preview footage uh spark

00:27:35.740 this kind of controversy and conversation for any other doc so i will i will rush it because i do

00:27:41.160 think this is going to be a hit i think it's going to be one that's going to get a lot of people

00:27:44.960 talking you talk about the jobs in a town like dalton the working class town of uh going away

00:27:51.540 because of globalization this is the same thing i say about artificial intelligence the combination

00:27:55.240 h1b visas artificial intelligence you watch folks you're gonna have these great communities north

00:28:00.680 of dallas fort worth wiped out because that cortez where do people go to get all your content sir

00:28:06.840 yeah go to my twitter like i said it's trending it's hot at cortez steve c-o-r-t-e-s steve thank

00:28:12.520 you steve thank you brother great make sure i get invited to the vatican to the premiere at the

00:28:18.840 vatican don't think so home title lock.com promo code steve 25 25 off two years a two-year one

00:28:29.920 million dollar triple lock protection you get 25 off on this continuing special in commemoration

00:28:36.260 of the 250th anniversary of the declaration of independence captain finnell next everyone's

00:28:42.820 focus on how the conflict in the middle east is raising oil prices but there's another grim

00:28:47.360 reality to this contention. Oil isn't the only resource being constrained. About one-third of

00:28:54.040 global fertilizer trade happens through this region. And with spring planting season on top

00:28:59.800 of us, American farmers are sounding the alarm, with some saying they can't afford to plant their

00:29:04.620 fields. When one piece of the supply chain gets hit this hard, you know what comes next. Higher

00:29:10.500 food prices, reduced availability, maybe even panic buying. That's why having an emergency

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00:30:06.960 War Room. Here's your host, Stephen K. Mann.

00:30:11.300 With Home Tidal Lock, all of our sponsors are trying to give special offerings in commemoration of the 250th.

00:30:19.000 This is Home Tidal Lock, 25% off, two years of the $1 million triple lock protection.

00:30:24.260 Go to HomeTidalLock.com, Steve25, and talk to Natalie Dominguez and the team.

00:30:31.280 The $1 million triple lock protection, particularly in a time of artificial intelligence and cyber.

00:30:35.920 which is one of the huge issues we're working on every day behind the scenes and giving you guys

00:30:41.780 updates as we can so go check it out today uh captain finnell first off uh keep the main thing

00:30:48.480 the main thing he's my finnell's my mentor in this um cortez brings up and you know we talked

00:30:56.260 about fauci the damning evidence on fauci and the reparations with the chinese communist party how

00:31:02.320 have we lost the plot on this? I don't know, sir. Yes, Steve. What's happened with this

00:31:10.360 revelation from the outgoing DNI, Ms. Gabbard, has got a lot of people focused on Fauci and for

00:31:18.920 the right reasons. He's clearly, as everything that Steve, of course, Tez said and many others

00:31:23.960 have said, he's a bad guy and should be held to account. But we're kind of, while we talk about

00:31:31.080 that, we need to remember that Fauci was essentially covering for the People's Republic of

00:31:36.040 China. He was covering for the Chinese Communist Party and what they had done, and for a variety

00:31:43.640 of reasons. But the fact of the matter is that this virus that killed millions around the world

00:31:50.520 came out of China, came out of their labs, didn't come out of the wet market. And regardless of how 0.89

00:31:58.340 it came out. It came out and they tried to cover it up themselves, the Chinese Communist Party,

00:32:03.480 back in early 2020. We remember that. And then through people like Fauci who tried to cover it

00:32:10.600 up and manipulate all this evidence. So we need to have something from China. They owe the world

00:32:17.280 for what they did. They killed people. When the Chinese killed 100 million people of their own 0.89

00:32:23.340 over the last, the Chinese Communist Party since Mao, you know, that's their internal affair. And 0.90

00:32:29.180 nobody's going to, you know, plead for the Chinese people, except for the Chinese people, so to speak. 0.99

00:32:34.340 But when the Chinese start killing people outside of China, and they start killing Americans, 0.99

00:32:39.280 then we have a right to say, hey, you owe us. And if you're not going to pay us, 0.98

00:32:42.980 then we're going to take it out in some other form, whether it's economically or something

00:32:47.180 else. But we, they're going to have to pay us back. And we should never, ever forget what they

00:32:52.160 did to us. Not just did they kill people, but they implemented their social credit system on us

00:32:59.480 in terms of health and the World Health Organization and their tool there that runs the WHO

00:33:04.780 who set up these crazy restrictive things that hurt so many people and caused so much damage

00:33:12.220 to children and made us crazy. We couldn't go to church and we couldn't do these basic things and

00:33:18.040 we couldn't be there when our loved ones died. It's just, it's criminal. And so we need that

00:33:23.460 Chinese to pay us back for that. And we should be demanding that. And that should be a line in the 1.00

00:33:27.180 sand as part of our going forward in future meetings between the president of the United

00:33:32.300 States and the general secretary of the Chinese Communist Party, Xi Jinping. The next time they

00:33:39.260 meet, President Trump needs to lay a bill on him and say, hey, man, you owe me.

00:33:42.280 bill pulte dni um walk us through it what what do you think tulsi just she she dropped some stuff

00:33:51.200 on the way out pulte is the acting head don't know how long that's going to be for what's your

00:33:55.980 there's a firestorm in town in the imperial capital to remove pulte immediately and to do

00:34:02.640 wave every type of uh every type of fiduciary responsibility we have for full due diligence

00:34:07.800 on Jay Clayton before he's confirmed.

00:34:15.220 What are your thoughts on this?

00:34:16.360 And why is the system,

00:34:18.580 you know, Mark Warner,

00:34:20.540 Focahontas, Schumer,

00:34:22.800 Tom Cotton, Lady Lindsey,

00:34:25.640 all of it in total meltdown

00:34:26.940 about Bill Pulte, sir?

00:34:29.260 Well, they're in meltdown

00:34:31.560 because they know they're going to be caught

00:34:33.260 and exposed for what they've done.

00:34:36.100 A close associate of mine

00:34:37.440 sent me something earlier today that said, the same Democrats that were content to let the

00:34:42.360 Department of Homeland Security go unfunded while the nation was in combat against the world's

00:34:47.760 leading sponsor of terrorism are now apoplectic that the National Counterterrorism Center might

00:34:54.200 be scaled back. This would be the same National Counterterrorism Center that got involved in the

00:35:00.340 2021 ODNI assessment, which later inspired the then President Joe Biden to declare that the

00:35:07.700 white supremacists were the greatest threat to the United States of America. So I think there's some

00:35:13.000 really deep analysis needs to go into what were they doing? How come there are so many people

00:35:19.240 there? Why are they involved with making assessments that were politicized? What did

00:35:24.500 they do with the elections? Why did they miss the China threat? Okay, the China threat goes 0.83

00:35:31.720 back beyond the creation of the ODNI. But let's just say since the ODNI has been around, how come

00:35:37.360 the ODNI hasn't made more about the China threat? Who are the China hands inside that organization?

00:35:44.000 So there's a lot to be investigated. And right now, the hair on fire from DC is generally 0.94

00:35:51.080 exaggerated, greatly exaggerated. And what we know is that most of the things that are happening

00:35:57.280 right now up front are you get seconded, as you said, to your parent organization,

00:36:03.320 National Geospatial Agency, National Security Agency, Office of Naval Intelligence, or one

00:36:08.860 of the services. And you get sent to the ODNI and you work there. It's kind of on loan. Now they're

00:36:15.800 being sent back to their parent organization. So people have to ask themselves, well, how come we

00:36:20.760 have so many people at these parent organizations? How come there's so much fat there? And why was

00:36:25.860 there so much fat at the ODNI? And what were those people really doing? I was in when the ODNI was

00:36:31.560 created. I was wearing a uniform. And the entire time that I was in uniform, the Office of Director

00:36:36.680 of National Intelligence did nothing to support our national security interest in the Western

00:36:42.820 Pacific against the main thing, the People's Republic of China. And they were supposed to be

00:36:47.860 there to help coordinate amongst the 18 different intelligence agencies to make us have better,

00:36:53.800 more authoritative assessments. And instead, what's happened over all these years since it

00:36:58.320 was established, almost 20 years, is that they've grown to become their own intelligence agency and

00:37:04.980 making their own assessments. So they've become just another voice amongst many, and they use it

00:37:11.100 for political purposes, as I referenced about 2021, and this notion that white violent extremists

00:37:17.740 was the greatest threat to the United States of America at a time when we had so many other

00:37:22.360 clear existential threats facing us. So I wish Mr. Pulte all the best. I hope that he does fire

00:37:30.960 people because it's way, way top heavy. It's got people that are making nearly $200,000 a year,

00:37:37.200 and they do very, very little except go to work and write politicized reports that helps

00:37:42.820 that administrations, whether they, or the deep state's view of what they want to promote,

00:37:50.460 regardless of who's president. And this is really dangerous. And I think it needs to be scaled back.

00:37:56.220 How do we, how do you explain to people how you balance it when the cut, a lot of people

00:38:01.280 calling for the cuts want to see, you know, the cottons of the world, they want to see the

00:38:06.760 supremacy of the CIA over everything again, because the CIA was the one they're most in

00:38:11.900 business with. What is the danger to the Republic, having come from naval intelligence, of having a

00:38:18.960 supremacist mentality at the CIA over all the intelligence agencies, sir?

00:38:25.920 Well, I think there's a risk there, obviously, that CIA has had way too much on their plate as

00:38:34.120 well. And so there needs to be an examination of what's going on at CIA. I think Sam Fattis has

00:38:40.480 call for that. Somebody should be asking the director, the current director, so when are you

00:38:45.480 going to start firing people at CIA? When are you going to have major reform, just like we're

00:38:52.480 trying to do at ODNI? We've got way too many people in the intelligence community for the

00:38:57.980 failures that we have not gotten in front of. We didn't get in front of what happened when the

00:39:04.720 Soviets collapsed, and everything since 1991, you could say there's been strategic failure.

00:39:11.300 Yes, we have operational and tactical success, but those operational and tactical successes

00:39:16.860 are in large part not just because we have an ODNI or a CIA. They're because we have people

00:39:23.720 out in our combatant commands and out forward that are doing the operational and tactical successes

00:39:29.600 that we hear about and read about, like in Epic Theory or other things, where we're successful

00:39:34.940 in those smaller engagements. But at a strategic level, we missed the rise of the People's Republic

00:39:41.900 of China, and we undercut and threat deflated their military capability and their strategic 0.66

00:39:48.200 intentions to harm the United States and the Western world. We missed that big time. And that's 0.86

00:39:54.180 after we built the ODNI. We missed what narco-terrorists were doing in our own hemisphere. 1.00

00:40:00.400 We missed how China was propping up Cuba. We missed how Venezuela was involved with maybe 0.88

00:40:07.160 our elections or in the narco-terrorism arena. We missed what Iran was doing with Hezbollah

00:40:13.300 and Hamas and things in the Middle East. So we have a lot of strategic failures. So all this

00:40:18.820 hand-wringing about, well, we have to have this. We have to have these agencies because it's for

00:40:23.160 our national security doesn't wash with what's happened. Let's scale back and have some really

00:40:28.800 smaller organizations with people that are hungry and worried about being fired for failure.

00:40:35.540 We promote people for failure. We need to start promoting people based on successful

00:40:40.460 analytic capabilities. You wouldn't promote somebody who goes in baseball and bats 100.

00:40:48.040 You know, you're going to want Ted Williams. You want somebody who's going to be a 400 hitter.

00:40:51.120 And we don't even get close to a 100 hitter with the IC on many, many things.

00:40:56.540 And that's the stark reality that no one in D.C. wants to admit.

00:41:00.420 And what they'll do is they'll each come individually, each senator, each congressman, each IC agency and say, you know, we had a success in this area.

00:41:08.620 We had a success over here.

00:41:10.000 But they don't add up to the strategic issues that we failed on.

00:41:13.920 And that's the real check that I think Mr. Pulte and President Trump and the rest of this administration better get after, because if you don't cut it back now, it'll just it's like a weed.

00:41:25.000 It'll it'll grow back even stronger. And we need to have congressional systemic reform.

00:41:30.180 We don't need to have these people there for 40 years doing what they're doing.

00:41:35.560 That kind of long-term duration is good in some technical areas, but what we've done is we've created a class of people that they think they know best and they don't answer to anyone, and they'll just wait until this administration or that administration leaves so that they can get back on their agenda.

00:41:53.620 That's not in our Constitution.

00:41:55.980 That's not how this nation was formed 250 years ago, and we should stamp it out.

00:42:00.580 talk to me you say that we missed uh the rise of the i mean i don't know how we missed it because

00:42:07.580 it was up in your grill i mean you saw it and documented it but talk about what's happened

00:42:11.660 recently we got about a minute i'm gonna hold you through the break about because everybody's

00:42:16.100 saying china's the big winner out of this iran war and now they've got all these new advanced

00:42:20.240 weapons systems that we really haven't paid attention to so it's going to make holding 0.74

00:42:24.180 the uh straits of taiwan that much harder uh give me a minute and then i'm gonna go to break

00:42:29.360 I'll bring you back. Right. So just recently, this weekend, the Chinese launched what they call

00:42:35.160 the DF-17 hypersonic glide vehicle weapon system. The system has actually been known to us and

00:42:43.260 publicly known since 2019. And they did some firings over the weekend, and it got a lot of

00:42:48.800 attention. And so there's a renewed sense. And it was done on the 60th anniversary of the People's

00:42:54.680 Liberation Army Strategic Rocket Force. So it was kind of a ceremony to show that they have

00:43:01.680 these capabilities. But it was done in conjunction with firings that occurred about 10 days ago by

00:43:08.140 Taiwan of the HIMAR system, the high mobility artillery rocket system. And that was a loss

00:43:14.640 of face for Beijing that we actually supplied Taiwan with those weapons and that they fired 0.58

00:43:20.280 them live fired them and so what did china do they lost that face they went out they did their

00:43:25.660 own missile firings 10 days later and then the next day they had the south china morning post

00:43:30.060 and the rest of their propaganda arms and chinese press talk about these great weapons that they

00:43:35.280 have and they are significant but it's not it's not exactly entirely new but we have some issues

00:43:41.360 that we need to address about what's going on with hypersonic missiles and just missiles in

00:43:47.120 general on the u.s side we're we're going to address it as soon as we get back short commercial

00:43:51.160 break captain james finnell on the other side most americans are forced to spend too much money

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00:45:45.500 in the details of america's health share you will not regret it here's your host stephen k bann

00:45:52.520 so captain finnell uh because now with the winding down of the sideshow which is the war

00:46:03.200 in the Middle East. Obviously, now greater focus, particularly now that Latin America,

00:46:10.280 we had another great election, that hemispheric defense is going to become key, and that

00:46:15.860 hemispheric defense is predicated upon control of the Central Pacific, like we fought World War II

00:46:21.920 over in the three island chains. What is your concern about American missile capability, sir?

00:46:28.460 Well, Steve, as the Chinese and the Russians have been developing these hypersonic missiles,

00:46:36.320 these are missiles that go greater than five Mach, so five times the speed of sound is

00:46:41.320 considered hypersonic. So they've been working on that for a considerable amount of time,

00:46:46.480 for a couple of decades, if not more. And there are capabilities that the Russians were the first 0.92

00:46:52.180 to use hypersonics in combat against Ukraine. Some have questioned how hypersonic they were

00:46:59.800 and their capabilities, but they've used them. And what China's been doing is testing them.

00:47:04.660 And three years ago, the head of U.S. Strategic Command, General Hayton, made a comment. It said,

00:47:11.480 what you need to be worried about is that in the last five years, so that's from 2018 to 2023,

00:47:17.080 23, or maybe even longer, the U.S. has done nine hypersonic missile tests. At the same time,

00:47:22.880 China has done hundreds. So he said, when you're talking about single digits versus hundreds,

00:47:27.900 you're not in a good place. So that's kind of where we've been when it comes to development

00:47:33.320 of these kinds of missiles. And there was a fight inside the Pentagon before President Trump's,

00:47:38.680 not a fight, it was the position of the Defense Department before President Trump's first

00:47:43.380 administration, that we should be focused on defense. And so it was all about missile defense,

00:47:49.560 missile defense, and missile defense systems were put in place in Europe, ground-based missile

00:47:54.380 defense systems that came off of our ships. Our ships became tied to missile defense operations

00:48:00.180 in the Sea of Japan, risk from North Korea, and that cut the availability of Navy ships for other

00:48:06.780 operational opportunities. And so the Chinese have really gone to town with that, and they 0.95

00:48:11.460 did this testing over the weekend. They've displayed last September in one of their PLA

00:48:16.780 anniversary PRC birthday parades. They unveiled a whole bunch of hypersonic weapons that are

00:48:25.540 launched from submarines, ships, aircraft, land-based, the CJ-1000. So they have built an

00:48:33.820 arsenal of hypersonic weapons. And back in July of 2021, they even tested a thing called a fractional

00:48:41.040 Orbital Bombardment System, FOBS, and it launched a missile, a hypersonic glide vehicle, that flew

00:48:48.540 24,500 miles around the Earth and then landed back in China. Fired it from China, went around the 0.76

00:48:54.800 Earth, landed back in China. And it was a demonstration of the technology that back in 0.98

00:49:00.060 the 60s, the Soviets had tried to develop a missile system that could fly not in the

00:49:05.280 exoatmosphere outside in space like an ICBM, Intercontinental Ballistic Missile, would do.

00:49:12.160 But this was fly in that area between space and air in the exoatmosphere and basically skip along

00:49:20.800 that atmosphere and fly at hypersonic speeds. And the reason the Soviets wanted to do that is they 0.59

00:49:27.100 knew that we had the North America Treaty Defense with Canada, and we had all of our radars arrayed

00:49:33.700 along with Canada and Alaska, and that we were looking for anything coming over the North Pole

00:49:38.560 from the Soviets and then the Russians with their nuclear missile threat. 0.63

00:49:42.660 Well, this FOB system now affords or allows the Chinese to be able to consider 0.78

00:49:47.920 launching missiles that would come up from the south 0.92

00:49:50.620 and threaten the United States national security from the southern hemisphere,

00:49:55.800 where we don't have...

00:49:56.940 You're talking on the homeland, by the way, in the box the president's leaving to go to.

00:50:03.700 The Mack truck facility in the Commonwealth of Pennsylvania will do that.

00:50:07.320 He's heading out right now.

00:50:08.560 I think he'll be there at 2 o'clock.

00:50:09.720 We'll cover it all live on RAV.

00:50:11.480 Captain, we've got to bounce real quickly.

00:50:13.820 That is a tax action on the American homeland.

00:50:16.340 This even makes it worse than just about the defense of Taiwan?

00:50:21.960 Correct.

00:50:22.580 That's what that system's for, and they're working on one.

00:50:25.120 So they're working on a multifaceted system,

00:50:27.860 and what we need to do is get into offensive thinking as well,

00:50:30.940 And that's where President Trump in his first administration, and now in this administration, is trying to focus more attention and money on building our own hypersonic missiles and systems, in addition to the defensive things that we're doing with, like, integrated, comprehensive, layered defenses or distributed maritime operations that have a defensive capability.

00:50:52.140 So, in offense and defense, we've neglected the offense for too long.

00:50:56.400 Step one. 1.00

00:50:57.260 Let's get out of Iran. 1.00

00:50:58.360 Let's get out of the war there.

00:50:59.360 Captain Fidel, thank you so much for joining us today.

00:51:02.620 Fascinating.

00:51:03.060 Thank you.

00:51:03.900 Keep the main thing the main thing.

00:51:06.320 Mike Lindell, talk to us about deals.

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00:53:23.840 Charlie Kirkshow is next.

00:53:25.400 The president is heading to the Mack truck plant

00:53:28.720 in Commonwealth of Pennsylvania.

00:53:31.500 Real America's Voice is covered live right now.

00:53:34.340 Scheduled to be with us at 5 o'clock

00:53:36.440 are two United States senators,

00:53:37.900 Senator Bernie Marino from the great state of Ohio

00:53:40.980 and Senator Tommy Tuberville

00:53:43.020 from the great state of Alabama.

00:53:45.420 See you then.

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Bannon's War Room - June 23, 2026

Episode 5465： The Deal Behind The SpaceX IPO; Who Really Is Pope Leo

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