Bannon's War Room - WarRoom Battleground EP 737： Investors Flock to Gold; CIA⧸Britain's Hidden Involvement in Ukraine

00:00:00.000 This is the primal scream of a dying regime.

00:00:07.740 Pray for our enemies, because we're going medieval on these people.

00:00:12.980 I got a free shot at all these networks lying about the people.

00:00:17.260 The people have had a belly full of it.

00:00:19.180 I know you don't like hearing that.

00:00:20.620 I know you've tried to do everything in the world to stop that,

00:00:22.360 but you're not going to stop it.

00:00:23.280 It's going to happen.

00:00:24.560 And where do people like that go to share the big lie?

00:00:27.940 Mega Media.

00:00:28.860 I wish in my soul, I wish that any of these people had a conscience.

00:00:34.740 Ask yourself, what is my task and what is my purpose?

00:00:38.500 If that answer is to save my country, this country will be saved.

00:00:44.860 War Room. Here's your host, Stephen K. Bannon.

00:00:53.940 Tuesday, 1 April, Year of Our Lord, 2025.

00:00:56.380 Of course, it's eve of the Liberation Day.

00:01:01.600 We now know that's probably going to take place 4 or 5 o'clock tomorrow.

00:01:06.740 It's actually election and game day.

00:01:10.100 Grace and Mo will be, and others will be, doing live coverage up on Getter,

00:01:13.980 and others tonight to get you updated on Florida 1, Florida 6,

00:01:16.740 and, of course, all important, Wisconsin.

00:01:21.520 I'll be in and out as I'm available on all that.

00:01:25.260 I wanted to take time tonight, though, because two, so many important things.

00:01:28.800 So Patrick, Philip Patrick is going to join me a little bit later.

00:01:33.620 Financial Times, huge article today about gold that I have to discuss with the audience.

00:01:38.340 And then the New York Times and the Telegraph have had this major expose of Ukraine.

00:01:44.380 And I want to do this on the eve of the tariffs because Europe's getting ready to blow back on these tariffs.

00:01:49.840 We had this amazing show this morning with Natalie Winters and talking about the revolutionary nature of what remains of the Democratic Party.

00:01:58.360 And I think that tonight, in the next 20 or 30 minutes, we're going to shock you by the lies you've been told,

00:02:07.320 the bald-faced lies you've been told by this Ukraine war that we called on this show from the very beginning.

00:02:12.740 I've had, I got, I'm taking this from two angles.

00:02:15.080 I got Ben Harnwell, who's covered this from day one, our international editor in Rome.

00:02:19.740 And I've also asked Tej Gill.

00:02:21.100 Tej has actually been in these situations as a warfighter for many, many really decades in Afghanistan and Iraq.

00:02:28.360 And I want Tej to give me some detail.

00:02:31.760 I want to start with Ben first.

00:02:32.900 Ben, this real big picture.

00:02:35.320 I mean, this article, and this is the New York Times.

00:02:38.680 I mean, come on, this is not Breitbart.

00:02:41.000 This is the New York Times.

00:02:42.080 And I was stunned.

00:02:43.180 First off, I got a heads up this article was coming out by people that, around people working on it and how explosive it was going to be.

00:02:49.580 But I was gobsmacked.

00:02:51.140 And I talked to so many of my colleagues that are in the military and people that are in national security or in the intelligence agency.

00:02:58.360 And they were actually blown away, too, although this is widely known about how brazen this was, about the lies that were told the American people about our involvement in the war in Ukraine.

00:03:10.860 Just give me your big picture, 60,000 feet view of how we fought this war from the beginning that was going to destroy the Ukrainian people. 0.99

00:03:20.280 And now it's pretty obvious the Ukrainian soldiers were just like robots.

00:03:25.220 They were just ants to be thrown out there, run by a combination of the American military, the CIA, and quite frankly, British commandos, their military, and plus MI6.

00:03:37.820 Your thoughts, sir?

00:03:38.580 Well, the Ukrainians were treated like ants, to be thrown out there, Steve. 1.00

00:03:43.080 And, of course, they still are.

00:03:44.680 Good afternoon to you.

00:03:45.620 This is a huge story.

00:03:47.180 And it really, in tone at least, confirms everything that the war room has been saying over the last three years.

00:03:53.260 But your point in the introduction there is absolutely spot on.

00:03:56.260 My first reaction to this New York Times investigation, and they're going on about how they've spoken over the last 12 months to some 300 sources, not only in the States, but also in Ukraine, and also in the rest of the cooperating powers, mostly all off the record.

00:04:16.160 This is obviously a pitch for Pulitzer or something like that.

00:04:19.220 Steve, my first reaction is, boys, too little, too late.

00:04:23.780 The time to produce this expose on how your government has been lying to you was when Biden was still in power.

00:04:31.980 Somewhat now, doing it now, is, I think, trying to restore your journalistic reputations.

00:04:38.900 But the damage has been done.

00:04:40.600 That said, and that has to be said, there's still a lot of stuff in this article.

00:04:45.320 Hold it, hold it, hold it, hang on, hang on, hang on, hang on, hang on, hang on.

00:04:48.820 And before going through that, though, hang on, because you just hit a key spot.

00:04:52.860 300 sources, all anonymous so they could get.

00:04:57.000 But this was obviously known because the operation itself was at such a scale.

00:05:02.240 Your point, this was widely known in intelligence and military circles.

00:05:06.520 It must have been known by the House and Senate Armed Services Committee who are essentially funding this.

00:05:12.260 This was too big.

00:05:13.340 This wasn't some tiny little operation of clandestine warfare using commandos here.

00:05:18.700 They're using Navy, you know, using, sending the Tej Gills, which they normally do, the Navy SEALs in. 0.98

00:05:24.380 This was a massive operation.

00:05:26.800 We were running the war.

00:05:29.200 We were running this war.

00:05:30.880 So clearly, and it had aspects of CIA involvement, paramilitary involvement, American Army Command, military command, all the technology associated with it.

00:05:40.780 And this was an open secret.

00:05:42.540 It had to be.

00:05:43.620 And yet it was covered up and withheld for years and years and years, sir.

00:05:49.080 Steve, not only must everybody have known about this, everyone who needed to know about this would have been aware of what was going on.

00:05:58.960 But the interesting thing is, is that they, you know, reading between the lines, they also knew that the Russians knew.

00:06:04.440 And we know this.

00:06:05.300 If you want to see the fingerprints, that the fact that we knew, they knew, is that the terms that they were using when they refused to call the Russian targets targets and had another invented technical word for them.

00:06:21.460 That was precisely, and it's here in the article.

00:06:24.540 So if you are asked, were you firing on Russian targets, you can say no.

00:06:29.180 So you've got to step back and say, well, hang on.

00:06:30.900 If we knew, we, the West, if we knew that the Russians were basically, you know, we're spying on them. 0.74

00:06:38.060 They're spying on us.

00:06:39.220 So, you know, so you've got to ask yourself, who was the secrecy for in that case?

00:06:46.920 Why keep it out to the media?

00:06:48.240 Well, the obvious answer to that, Steve, is that it was your own government.

00:06:51.320 The American government was using the secrecy to stop the American people from knowing how invested their own government was.

00:06:59.620 That was the point behind the subterfuge.

00:07:02.480 That's one of my first takeaways on this.

00:07:05.480 If you want, I'll give you my second takeaway on this as well.

00:07:09.420 Those are my two key points.

00:07:11.180 So the first point is that the secrecy employed by the Americans was fundamentally to stop the American people knowing.

00:07:18.680 Because, as I say, they knew, the Americans there on the ground in Ukraine knew full well that the Russians were watching.

00:07:25.900 And, in fact, they're going through chapter and verse, we'll do this, but we won't do that, because they didn't want the Russians, they didn't want to cross the Russians' red lines.

00:07:33.740 On the subject of the red lines, Steve, this is my second point.

00:07:38.480 And this is my, you know, this is why what we learn in this New York Times expose is important to today and to President Trump today.

00:07:46.860 It's a horror story, Steve, of how Biden's red lines continued to move throughout the three years as they were roped in.

00:07:58.020 I won't say by the Ukrainians, but by events, they were roped in ever further. 1.00

00:08:03.600 And, in fact, the word used in terms of tolerance of the risk assessment was continually widened as the Americans became more and more accepting of high risk.

00:08:15.160 What that means in relation to the red lines is that the Americans are becoming ever more bolder, that they will get to the point when Putin might respond with some kind of nuclear tactical response.

00:08:29.760 That is my lesson to Donald Trump, who still hasn't disengaged the United States from Ukraine.

00:08:35.420 The danger here, and Biden manifestly failed to observe his own limits of acceptability, is that this is a situation, unless it's closed down, it will continue to grow.

00:08:47.800 Wow. That's amazing. Hang on for one second. I'm going to come right back to that.

00:08:55.820 Wow. Because you're saying that when you read this, there's fresh warnings today about getting sucked in because you see how Biden and these guys got sucked in

00:09:03.380 and continue to move the goalposts and just got in deeper and deeper.

00:09:07.060 Reminds me of Iraq, Afghanistan and Vietnam.

00:09:10.380 I hate to say it, folks, but this thing, when you read it, you just feel like you're getting sucked into a vortex.

00:09:15.220 You're saying that that is the issues today, particularly when you have this economic deal, you're trying to get peace, but you just – and Zelensky, you know, rejects economic deal, turns around and rejects more.

00:09:27.240 They still haven't come up with the security force, and it's always out there that you're going to get sucked into this step by step.

00:09:35.880 Next thing you know, you're in the vortex.

00:09:39.320 It is me saying that, but it's there in the article.

00:09:42.700 For anyone who goes online – and we'll post the link to this New York Times piece afterwards – read the article, download it.

00:09:48.480 It's all there.

00:09:49.180 It's hitting you on basically every other paragraph.

00:09:52.280 The expression that the tolerance of risk was continually widened as the red lines – as Biden's imposed red lines.

00:10:01.540 And you see this with the M777s. 1.00

00:10:03.800 You see this with the HIMARS.

00:10:05.040 You see this with the CIA eventually allowing intelligence to be used to strike Russian targets inside Russia.

00:10:14.900 At every stage, Biden said, these are my red lines.

00:10:17.620 And then we go down a few paragraphs later, and he walks over them and establishes new ones.

00:10:21.940 And that is the danger.

00:10:23.060 By a piecemeal incremental move, succession, whatever that being your intention at the beginning,

00:10:30.000 you find yourself in a position of a three is that you would have never have countenanced at the start.

00:10:35.180 And this is the worry – you know, we've said this repeatedly on the show – this is the worry that I would very gently refer to President Trump that he is in.

00:10:44.380 Because now – and this is a risk that we did point out before the inauguration – there's going to come a point – and it actually came far sooner than I was expecting.

00:10:53.140 I thought it would be like a matter of months.

00:10:55.500 It was really a matter because President Trump is such a dominant personality.

00:10:59.520 And it came within like a few days or a week that any abandonment of Ukraine is going to now hit President Trump at some point.

00:11:11.060 His reputation will be damaged at this, even if he sort of totally disengages now.

00:11:15.900 And that's just inevitable because he is so firmly seen as the boss in the United States.

00:11:21.180 No one's going to remember. Joe Biden's a distant memory already.

00:11:25.720 And that's one of the virtues of Donald Trump and his huge presence.

00:11:30.520 But it does have a consequence that he's still here in Ukraine.

00:11:34.940 And if he pulls out now – I mean, if he pulls out further down the line after committing himself further, he will have his reputation damaged.

00:11:43.340 So all we can do, Steve, I suppose on this point, all we can do is that is that minimize that consequence before it grows.

00:11:49.320 The toleration of risk.

00:11:52.980 Tej, I want to bring you in.

00:11:54.360 Tej, you fought in these forever wars in the Middle East.

00:11:59.380 When you read this, I mean, it kind of looked at me like CENTCOM with the Ford deployed in what Qatar or whatever they ran – or Kuwait, wherever they ran these operations both in Afghanistan and Iraq out of.

00:12:11.160 It was shocking to me the scale that the American military involvement in this war and really command and control.

00:12:19.260 Your thoughts?

00:12:19.720 Yeah, I guess it's not a surprise to me.

00:12:24.840 I know how these things work.

00:12:27.560 Basically, we've been doing these proxy wars for a long time.

00:12:31.100 We did – well, so we – a lot of the operations we did in Iraq and Afghanistan,

00:12:36.420 after the first couple of years, they wanted a local face, like an Iraqi face or Afghani face on the mission so they can say they did it.

00:12:45.140 And they wanted us to, you know, just advise and insist type thing.

00:12:51.580 But it doesn't work.

00:12:53.280 These people are not the same as us.

00:12:55.100 Same thing in Ukraine.

00:12:58.800 If Trump completely pulls out, Ukraine is going to fold.

00:13:02.940 Nobody has the strength as the U.S. military and the wherewithal.

00:13:06.920 And even the Europeans don't. 0.99

00:13:09.440 So that's what's going on here.

00:13:12.340 And I read the New York Times article talking about we set up – like you're saying, like Qatar, that's where we ran Afghanistan out of.

00:13:23.060 So we set up a command element, a joint operations center, tactical operations center, whatever you want to call it, in Germany.

00:13:31.540 And that's where the CIA, the Brits, and us ran the generals for Ukraine.

00:13:38.400 And also I saw in the Telegraph that at the beginning of the war, the British naval commandos went in and extracted two Ukrainian commandos.

00:13:48.060 And I guess that's not a surprise to me either.

00:13:51.980 That's something that's pretty commonplace.

00:13:53.600 Friends of mine, Navy SEALs, they actually pulled Karzai off a mountaintop at the beginning of the Afghan war when he was part of the Northern Alliance.

00:14:03.600 And they're like, hey, we need to get this guy.

00:14:05.120 He's going to be the new leader.

00:14:06.080 And that's what they did here.

00:14:07.980 As soon as Russia invaded, the British commandos went in and extracted two Ukrainian generals and took them out to Poland and then to Germany.

00:14:19.460 And then they ran the war from there.

00:14:22.060 And I also saw that the Navy and the CIA were authorized to share targeting information about the Russian fleet in the Black Sea, in Crimea.

00:14:32.480 And we, through Ukraine, sunk one third of Russia's Black Sea fleet, which is huge.

00:14:41.880 And, you know, we're behind everything.

00:14:44.300 We're behind the development of the weapons that Ukraine has a really advanced sea drone program where they have boats with outboard motors and they're stealthy and they have Starlink on them and they're unmanned.

00:14:56.680 And they use these things to swarm Russian ships and sink them. 0.69

00:15:01.500 And it has been very successful for Ukraine doing this.

00:15:04.920 And also, I see in this New York Times article, it talks about how U.S. advisors are allowed to go into Ukraine and, you know, do the advise and assist mission.

00:15:17.560 They stay back from the front lines-ish and they advise and assist the Ukrainians. 0.88

00:15:22.660 So, basically, Ukraine is a puppet for us. 0.89

00:15:26.660 It's the old-fashioned proxy war.

00:15:29.820 And it's a regime change, right?

00:15:31.520 We did a regime change in Ukraine because we wanted a pro-Western government in charge in Ukraine.

00:15:37.920 And we got that in 2014 through the color revolution.

00:15:41.760 And then we turned it into a proxy war against Russia.

00:15:44.960 And that's all – that's just the NATO and the Biden administration.

00:15:49.820 You mean we wanted – they had democratically elected, although that election had huge problems, right?

00:15:55.640 You may even argue that, hey, election fraud might have been rigged.

00:15:58.480 But they had a pro-Moscow, pro-Kremlin guy in.

00:16:03.400 And we actually – the color revolution, Newland, put Zelensky in.

00:16:07.720 Just one question because I want to let you – I know you're jammed over at the coffee company.

00:16:13.000 I want to let you go.

00:16:13.600 So, Ben Harnwell brings up one of the most key points.

00:16:17.220 The secrecy of this, of the New York Times, with 300 sources, folks, 300 sources.

00:16:24.340 This – the secrecy of this was not with the Russians.

00:16:27.620 The Russians knew this was going on.

00:16:29.560 The Russians knew the Americans and the Brits were running this proxy war from Germany.

00:16:35.500 What Taze just told you, we gave targeting information that took out one-third of the naval targets in the Black Sea Fleet.

00:16:42.820 We're directly done by American naval intelligence.

00:16:48.080 So, the Russians knew this.

00:16:49.860 The secrecy was to hide it from the American people.

00:16:52.860 The secrecy – so, it happens now.

00:16:55.220 It's in – it's during Trump's time.

00:16:58.260 And with all the stuff going on, this article has – as explosive as it is, this is equivalent to the Washington Post doing the Afghan papers back in 2020 when we did day after day.

00:17:10.520 I said these things are more explosive than the Pentagon papers because they show that we've been lied to, bald-faced lied to by Republicans and Democrats, basically the administrative and deep state, about the success of the war.

00:17:24.260 And I knew this in 2017 when President Trump tasked me to say, hey, can you get this thing wound down as quickly as possible?

00:17:29.680 I want to get out of there.

00:17:30.520 And the Pentagon will sit there and just lie to you, bald-faced lie to you.

00:17:34.440 The intelligence service will lie to you to make sure these forever wars go on.

00:17:39.140 The question I have for you is how do the Russian people – go ahead.

00:17:43.200 Go ahead.

00:17:43.460 I was going to say, this is just the stuff that's come out in the mainstream news.

00:17:48.540 There's – this is just the tip of the iceberg, Steve.

00:17:50.900 There's plenty more that we don't know about.

00:17:53.200 So, if this is shocking to people, then there is another mountain of information that we have been doing in Ukraine in these wars.

00:18:00.800 And then here's the part that actually surprises me is our CIA went in and basically salvaged the Ukrainian intelligence services and retrofitted them, trained them, and made them into like a top-notch intelligence service.

00:18:19.060 And it's not just for the Ukraine-Russia war.

00:18:21.740 We actually saw these Ukrainian operatives on the ground in Syria last – whatever it was, two months ago, went over through that.

00:18:29.560 So, now we're actually using their intelligence service as a proxy intelligence service to conduct sabotage and other operations around the world.

00:18:40.720 So, there's a lot more to this than just Ukraine-Russia.

00:18:43.960 We're actually using their intelligence service that we created to do our dirty work around the planet.

00:18:49.040 It's not – it goes much further than just Ukraine and Russia.

00:18:52.200 That's the part that's shocking to me.

00:18:55.240 And then the – you know, we have these Patriot missile batteries on the ground over there.

00:19:00.360 Those are top-secret missile systems with encrypted targeting systems that we have to man and feed the targeting systems into.

00:19:07.880 We can't just give that information to the Ukrainians.

00:19:10.620 And then same thing with the HIMARS missile systems.

00:19:14.320 The targeting systems in those is a top-secret encrypted system.

00:19:19.040 So, we have to program those.

00:19:21.440 It's – so, we have our hands on deep and all this stuff.

00:19:26.760 So, I hope Trump can wind this thing down.

00:19:31.900 But like Ben Harwell was talking about, they keep moving the goalposts further and further away, and we get sucked deeper in.

00:19:38.400 And I think that was by design.

00:19:40.000 I think the last 12 months of the Biden administration, they set the stage for Trump.

00:19:46.080 So, he can't just shut this war down overnight.

00:19:49.920 It's gone so deep and it's so complex and it's so dirty that it's going to be very difficult for him to wind this thing down as we're seeing.

00:19:58.700 And it's all by design.

00:20:00.120 It's not an accident.

00:20:01.280 We didn't accidentally get sucked into it.

00:20:03.320 We got intentionally sucked into it.

00:20:05.420 And then they rushed at the last minute before Trump came in to make it very difficult for him to shut this war down.

00:20:13.420 Because it's so deep, dark, dirty, and complex now.

00:20:17.980 I don't know if he knows how to shut it down, to be honest with you.

00:20:20.140 And I don't know if Russia wants to shut it down, and I don't think Zelensky wants to shut it down.

00:20:23.480 I don't think Zelensky wants to shut it down.

00:20:27.780 Tasia Gold just hit the key point. 1.00

00:20:30.220 This thing – the apparatus underneath is – the party's on.

00:20:35.220 They have no intention of cutting the party off.

00:20:37.300 This is why you still see guys on Capitol.

00:20:38.800 I guarantee you when we go through this budget, that $900 billion budget in the reconciliation, $150 billion more for the Pentagon.

00:20:47.940 It officially puts us over a trillion dollars.

00:20:49.880 There's going to be so much money for the Ukraine.

00:20:52.160 And people around President Trump and the deep state, administrative state, we have not gotten rid of all these people.

00:20:57.000 This is why Ukraine, Ukraine, Ukraine, up on Capitol Hill, the money is being made. 0.78

00:21:01.280 This thing is sick.

00:21:02.960 Also, Tash, I'll let you go.

00:21:04.440 So the Russian people, who are allies in World War II, have lost 800,000 killed or wounded on these battlefields.

00:21:14.380 How are the mothers of Russia – and let's leave aside who started what. 0.92

00:21:19.220 I'm just talking about dead in almost a million.

00:21:22.600 Ian Bremmer tells me it's 500,000 minimum on the Ukraine side.

00:21:26.960 It's like 450 to 500,000.

00:21:28.380 President Trump says it's a million.

00:21:29.360 Let me split the difference, 750.

00:21:31.620 So you have a 1.5 million – some of the million and 1.5 million.

00:21:35.880 I mean, this is such a bigger scale at the beginning of World War II, folks.

00:21:39.740 Until the German army went into Russia from that 1939 to 1941, hell, I'll throw in the Spanish Civil War and what happened in Finland. 0.86

00:21:49.640 And you still don't get to the scale of the slaughter that took place in the bloodlines in Ukraine.

00:21:54.320 How are the Russian people ever supposed to sink – because there's no offense. 1.00

00:21:57.900 The Ukrainians shot the bullets, but the Americans ran the war. 0.70

00:22:02.480 The Americans targeted. 0.62

00:22:04.060 This was our war. 0.78

00:22:05.820 This is so much worse than Mersheimer said.

00:22:08.080 Mersheimer said you're going to lead them down the primrose path to their destruction about the Ukrainian people. 0.98

00:22:12.680 And what did he say? 0.98

00:22:13.860 We are going to fight until the last Ukrainians dead. 1.00

00:22:17.660 And if anybody ever showed that, this is – folks, you've got to understand something.

00:22:20.960 You can't walk away with the fact that, hey, I tried to fight it.

00:22:24.320 I told my congressman not to do it.

00:22:26.300 I was with the war room.

00:22:27.680 I got Mitch McConnell pitched out.

00:22:29.600 This is – our nation essentially went to war against the Russian people and killed because of the – if they didn't have the expertise and sophistication and battle-hardened combat experience of the American military and paramilitary and CIA command,

00:22:46.040 the Ukrainians would have never put up the punch. 1.00

00:22:50.560 This answers the question, how in the hell is this ragtag army being as good as they are?

00:22:55.740 The reason was they have tough and courageous troops who can fight with virtually nothing,

00:23:00.560 and you had super sophisticated people that had learned in 20 years of war in Iraq and Afghanistan how to run the deal.

00:23:07.600 Tej Gill.

00:23:08.040 Yeah, I think it's going to be very tough for the Russians to forgive and forget what America did on this – during this Ukraine thing, killing all these people. 0.66

00:23:19.360 I think it's almost like – it would be almost like immediately after 9-11 asking Americans to forgive and forget what the al-Qaeda and Taliban did to New York City.

00:23:28.620 So – but, you know, I guess it's one of those things that only time will tell and time heals.

00:23:35.520 Hopefully they see that it wasn't America as a whole. 0.89

00:23:40.900 It was just some of our corrupt politicians in a deep state.

00:23:45.840 In the deep – in the apparatus.

00:23:47.340 This is why this apparatus is going to be taken apart.

00:23:49.080 I got to let you go.

00:23:50.060 I'm going to bring Ben back after the break of the bottom of the hour.

00:23:52.740 But Tej, nothing showed me more than – because you're a patriot.

00:23:58.060 I think you did 12 or 14 tours in defense of your country, some as a SEAL and then some as a contractor because basically they just want to get you off the health and retirement benefits, off the balance sheet, as we say.

00:24:09.980 Nothing showed me more of why you wanted to get out than this because this is where American troops in Iraq and Afghanistan were just used as the cannon fodder, to be blunt, that the Ukrainian troops – the commonality of the warriors here at the tip of the spear is actually tragic.

00:24:26.640 When you think about these Ukrainian soldiers and then you think back over Iraq and Afghanistan, how the same maniacal focus.

00:24:34.020 So now I know more than ever why you went and started the coffee company, sir.

00:24:38.360 I'm all for war as long as it's legitimate and it's – there's a real reason we're fighting.

00:24:44.240 But when it's to enrich politicians, I'm not on board.

00:24:49.500 And that's the name of the game in these wars lately.

00:24:52.360 And we're not allowed to win.

00:24:54.180 We just go over there and fight and fight and fight in endless wars.

00:24:57.780 World War II, we used to do unconditional surrender.

00:25:00.680 When's the last time you saw one of our enemies surrender unconditionally?

00:25:04.080 And we'll see, you know, if we get in a war with these cartels on the south, are we going to just crush them and allow the warfighters to do their job?

00:25:13.760 Or is this going to be another conflict where the politicians and Lockheed Martin and Northrop Grumman make a bunch of money?

00:25:20.820 We need to fight to win.

00:25:22.800 If you fight to win, it's fine.

00:25:24.240 But if you fight to make money, no.

00:25:26.600 So, Tej, where do people – just tell us where to go for the coffee.

00:25:31.540 They can go see the 8,000 reviews.

00:25:33.120 You've done an amazing job.

00:25:34.600 Where do they go for your coffee?

00:25:37.280 The coffee is at warpath.coffee.

00:25:39.780 That's the website.

00:25:41.240 And for the War Room Posse, use promo code WARROOM.

00:25:44.000 It's 15% off right now.

00:25:45.960 And like Steve said, we have 8,000 reviews.

00:25:48.180 It is the best coffee out there.

00:25:50.000 People love it.

00:25:51.120 And they just keep buying it over and over.

00:25:54.040 Warpath.coffee.

00:25:54.920 8,000 – 8,005 star reviews from your compadres here in the War Room.

00:26:01.600 Tej, thank you very much.

00:26:03.580 Thank you, sir.

00:26:04.040 Everybody go get a hot cup of coffee.

00:26:06.220 Get the coffee.

00:26:06.960 You get jacked up in the morning.

00:26:08.980 This is why Tej here – I love this guy.

00:26:11.360 He saw the worst of the worst and then came back to his country to build a fabulous company.

00:26:16.320 Fabulous company.

00:26:17.560 If you go and read those reviews, you'll buy the coffee to try it.

00:26:22.300 If you try the coffee, you'll put up a five-star review and you'll never drink another type of coffee.

00:26:29.460 That's how good it is.

00:26:30.480 And I am an aficionado when it comes to coffee.

00:26:33.880 And this is the best I've ever had, flat out.

00:26:36.460 The best.

00:26:38.580 Man.

00:26:39.700 I thought of Tej every paragraph when I was reading that in the New York Times.

00:26:42.960 Okay, we're going to take a short break.

00:26:45.200 Ben's going to stick with me.

00:26:47.060 And I'm going to bring in Philip Patrick.

00:26:48.700 Short commercial break.

00:26:49.460 I got American part.

00:26:52.260 I got American babe.

00:26:56.600 In America's heart.

00:27:00.060 You don't go out and buy a life jacket when the boat is already sinking.

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00:31:10.280 War Room.

00:31:11.560 Here's your host, Stephen K. Vance.

00:31:14.980 Okay, welcome back.

00:31:17.560 I am particularly proud of The War Room today, starting at the 10 o'clock show all the way through this.

00:31:24.860 This has been, after five years, this is one of the most extraordinary days I think we've ever had.

00:31:30.440 It really is.

00:31:31.340 The types of issues we've gotten to and getting it back of.

00:31:34.420 And it's the whole team.

00:31:35.300 It's the production team.

00:31:36.260 It's our team in Denver and in Palm Beach.

00:31:39.120 And, of course, my own production team at The War Room.

00:31:41.580 And, of course, all our contributors.

00:31:43.180 Ben Harnwell.

00:31:43.740 I actually was going to play the CNN thing with Dugan, talking about, you know, the Russian rapprochement and what that could mean for the future.

00:31:52.120 But I'll have to play that another time.

00:31:53.420 We just got too much going on.

00:31:54.780 Breaking news out of the Financial Times today.

00:31:56.680 And I've changed the schedule with Philip Patrick, who joins us here in a moment.

00:32:00.840 Harnwell, this one's shocking on so many levels.

00:32:04.900 And Tejgill just nailed it.

00:32:06.640 It's not stopping.

00:32:08.180 That monster that was created, I don't know, after 9-11 or how you want to say it.

00:32:13.440 But that monster that kept the forever wars going in the Middle East actually spread itself to the bloodlands. 0.90

00:32:21.280 And the monster continues.

00:32:22.800 Because as Tejgill said, he says, hey, look, let me be blunt with you guys.

00:32:26.380 Like the CIA training, really taking the Ukrainian intelligence, which was nothing, and recasting it as itself with MI6.

00:32:35.280 And now we have it deployed in Syria.

00:32:37.420 It's not going to end, folks, until we end it.

00:32:40.800 Ben Harnwell.

00:32:41.300 I'm going to go with the war room posse, just these technical terms I mentioned earlier, because it's important.

00:32:49.760 When the guys over there, I think it's like a couple of dozen over there, they were told not to use the term targets.

00:32:58.300 This is what the New York Times says.

00:33:00.260 It says the locations of Russian forces would be, inverted commas, points of interest.

00:33:06.100 Intelligence on airborne threat would be tracks of interest.

00:33:10.020 So those are the two terms, not targets, points of interest and tracks of interest.

00:33:14.640 And then it directly says here, if you ever get asked the question, did you pass a target to the Ukrainians, you can legitimately not be lying when you say, no, I did not want U.S. 0.98

00:33:28.680 That's official, explained.

00:33:31.200 Obviously, what the New York Times doesn't go into is that who would be doing the questioning.

00:33:35.300 Well, considering we're talking about military advisors over there in Ukraine, which is under attack by the Russians, the foreseeable circumstance would be if you are taken by Russians and questioned, you cannot be legitimately lying.

00:33:56.360 Now, that eventuality is extremely important.

00:33:59.880 And it comes back to what Tej Gill had mentioned when he was talking earlier about these two Ukrainian generals who were taken by U.S. under armed escorts, it says in the New York Times article, under armed guards, taken from Kiev to Poland and flown from Poland to Wiesbaden in southwest Germany, which is where this is all being handled.

00:34:25.500 And the New York Times makes an aside, a descriptive aside, that the generals and their armed guards were wearing civilian clothes.

00:34:35.540 When I mentioned the Russians earlier, the possibility of Americans being captured by the Russians, the fact that this is something, you know, I remember I mentioned this on the war room like a couple of years ago, the fact that they are enemy combatants not wearing uniform would be deprived them totally of their Article 4 Geneva Convention protections as prisoners of war.

00:35:00.340 And what Tej Gill was also saying about how American soldiers were basically sent over, and what you were saying earlier, just being sent over in Syria and Afghanistan and Iraq as cannon fodder, this is how much they are appreciated, how much they are valued by their high command, because they do not wear uniform, to wear civilian clothes.

00:35:24.460 And go there, as the New York Times says, carrying guns, as you escort these generals, as you're out of danger.

00:35:32.100 They would have been instructed not to wear military uniform for that, and presumably all their other operations there.

00:35:41.040 That is, I would say, I would say, verging on criminal, considering there is no declaration of war between the United States and Russia, and that these soldiers are actively working on, excuse me, military advisors, are actively working on destroying Russian targets inside Russia.

00:35:59.420 That is, that is, so one question, I'll close for this, because I know we've got to hand over to Philip Patrick now.

00:36:03.900 My question to this, now that there's a new guy in charge at the Pentagon, a question for the Secretary of State, find the instructions on what these Americans were wearing there, and publish them.

00:36:17.980 And then everyone can see just how evil the previous regime was, how little it cared.

00:36:23.760 We know it didn't care for the Ukrainians, as you said, fighting them down to the last one. 1.00

00:36:27.500 How little they cared, even for Americans who were over there, that they would knowingly send them out there, deprived of their Geneva Convention protections. 0.86

00:36:37.440 Disgusting.

00:36:38.420 No.

00:36:39.500 Yeah, I think you meant the Secretary of Defense, and there needs to be a massive investigation of this, and people need to be held accountable for this.

00:36:46.100 I think there are massive crimes that we committed here, massive crimes.

00:36:49.260 Ben, where do people get you?

00:36:50.720 We've got to bounce.

00:36:51.580 Thanks for doing this this evening.

00:36:53.380 Where do people go to get you, sir?

00:36:54.560 On Getter at Harnwell, which is Mike's surname.

00:36:58.460 Thanks, Steve Groblin.

00:36:59.500 Catch you tomorrow.

00:37:01.000 Thank you, brother.

00:37:01.860 Very powerful.

00:37:03.680 I asked Philip Patrick to change around the schedule.

00:37:07.020 I brought him on today.

00:37:08.160 He got an article with me I'd seen on the front page of the Financial Times of London.

00:37:12.820 The headline of this is essentially about the situation with gold and, you know, setting records now.

00:37:19.580 It seems like every hour, but, Philip, the headline of this is investors flock to gold funds as fears over Trump's tariffs mount.

00:37:27.860 That's kind of the free trade.

00:37:32.540 Both economists and the Financial Times were both established in the same kind of time period back in 19th century England around the corn laws.

00:37:40.380 And they were they were the paper of the capitalist.

00:37:42.600 So they hate anything related to tariffs.

00:37:44.680 They hate anything related to protectionism.

00:37:47.540 But it's much deeper than that.

00:37:49.780 This article does a pretty good job of actually going to the forces driving it.

00:37:52.900 Why is the Financial Times now finally caught up with what we've been talking about on War Room with Birch Gold for the last four years, sir?

00:38:00.160 Yeah, it's about time.

00:38:03.520 I think we're seeing that broadly, investment banks, financial publications.

00:38:08.000 But, you know, they are catching up.

00:38:10.260 And it's no surprise.

00:38:11.600 Gold prices smashed a new record yet again on Monday.

00:38:15.100 Spot markets now over $3,100 for the first time in history.

00:38:19.820 But it's been very consistent performance.

00:38:22.280 Gold's up almost 20 percent.

00:38:24.320 It's 19 percent since the 1st of January.

00:38:26.540 In fact, for the first time in history, a $100 bill is now worth less than its weight in gold.

00:38:33.860 And a number of analysts are now projecting gold.

00:38:36.480 They've increased forecasts to over $3,500 by the end of the year.

00:38:41.320 Now, look, like anything else, gold's price is a function of supply and demand.

00:38:46.480 And what we're seeing on the demand side is just skyrocketing demand.

00:38:50.960 And there's a few different drivers, right?

00:38:52.980 So you and I have discussed many times central bank demand, which is consistent.

00:38:57.860 It is increasing.

00:38:59.180 After three consecutive years of record buying, central banks now already own 20 percent of

00:39:06.380 all the gold ever mined in history.

00:39:09.860 As we've discussed before, since Biden weaponized the dollar and seized Russia's assets back in

00:39:16.040 2022, that led to a five-fold increase in central bank gold buying.

00:39:21.240 Now, whether you call it a natural desire to diversify, as Yellen did, or a rational decision

00:39:28.080 to shelter assets from outright theft, one thing is clear.

00:39:33.460 It's been a very good thing for gold owners.

00:39:36.080 Since February of 2022, gold prices are up 63 percent.

00:39:40.780 And in the same time period, the dollar's purchasing power has fallen about 11 percent.

00:39:45.960 As we'd expect, the dollar's share of central bank reserves declined yet again last year

00:39:52.480 as gold overtook the euro and became the number two global reserve asset.

00:39:57.800 So a lot of the demand is coming from central banks.

00:40:01.160 What's really interesting is investor demand.

00:40:04.300 So fourth quarter of 2024, and of course, at Birch, we feel this directly.

00:40:09.420 Retail investors bought more gold than even central banks did.

00:40:13.460 And I think what's happening is broadly the markets are starting to understand that there

00:40:19.740 is no such thing as a Trump put, right?

00:40:23.480 Think about it like this, OK?

00:40:25.100 The top 10 percent of the wealthiest households in America own 87 percent of all assets.

00:40:33.300 The top 0.1 percent own around 23 percent.

00:40:36.980 Since the week of Donald Trump's election, we've seen the top 10 percent of wealthiest households

00:40:42.540 have seen $2.7 trillion of their wealth wiped out in financial markets.

00:40:49.040 Now, the wealthiest households still have plenty of liquid assets.

00:40:53.160 So who's it really hurting?

00:40:55.200 It's hurting the wealthiest people in America.

00:40:58.480 So far, they're the ones who are getting hit.

00:41:01.680 They're the ones who can actually afford it.

00:41:03.940 Now, listen to the signaling from the administration.

00:41:07.120 Besson's been saying for a long time, the economy's been addicted to cheap money,

00:41:11.420 and we needed to go through a detox period.

00:41:14.380 And that's what we're seeing right now.

00:41:16.540 Ultimately, we cannot support a bubble indefinitely.

00:41:20.400 Now, while all of this is happening on the demand side, supply is still stagnant.

00:41:25.760 Higher prices haven't yet led to a significant increase in mining activity.

00:41:30.300 Hang on. Hang on.

00:41:32.740 This is why I want to have Philip Patrick on.

00:41:35.820 And I think we'll clip and play this.

00:41:37.820 What he just said, for the country's financial life and for your personal financial life

00:41:43.260 is one of the most powerful things ever.

00:41:44.940 And let me go back in time.

00:41:46.860 He just made the statement, the markets, it's not just central banks now.

00:41:52.280 It is actually investment opportunities.

00:41:54.020 I happen to think it's why Larry Fink the other day said in his asset reallocation,

00:41:58.880 because he remember he said, hey, he's going to make everything available for the masses.

00:42:02.100 But he said he's also got different asset allocation.

00:42:05.300 The asset allocation was traditionally 60-40 equity to debt.

00:42:09.680 He says he's changed that now.

00:42:10.860 It's like 50% equity, but I think debt's 30 and 20 should be private investments, other asset classes.

00:42:17.200 That led to me that at least part of that was going to be in precious metals and gold.

00:42:22.820 In the run-up to the financial collapse in the bubble of 2008, you had a thing called the Greenspan put.

00:42:30.120 The traders always felt that if everything got out of control, Greenspan would always be in to basically increase liquidity at the Federal Reserve or to lower interest rates.

00:42:41.340 And they called that a put.

00:42:42.300 Basically, that'll bail us out, you know, if we get too speculative here, we'll have the Federal Reserve chairman bail us out.

00:42:48.180 And it got to be known, as you know, Philip, the Greenspan put.

00:42:51.000 And that's how things got too out of control when they finally stopped that because of they thought they were getting too, you know,

00:42:58.840 they're getting too, the Bush administration thought they're getting too over their skis.

00:43:02.640 They basically pulled the plug and no more bailout.

00:43:04.800 They bailed out Barrett Stearns and didn't bail out Lehman Brothers.

00:43:08.580 The whole thing started to unwind and collapse in the 2008.

00:43:12.300 What Philip Patrick says, people here understand there's no Trump put and there's no Trump put.

00:43:19.180 And so what they're doing is they're going, the corporations now are buying gold used to be a hedge.

00:43:24.220 They're buying it as actually an asset class.

00:43:26.300 When Philip Patrick, he's much younger than I am.

00:43:28.420 When he was an investment banker in the late 90s, early 2000s, or when I was an investment banker back from the mid 80s to the early 2000s,

00:43:36.120 if you had told an investment banker and talked about gold as an investment alternative, you go, what are you talking about?

00:43:40.700 That's these gold, that's these crazy gold bugs, right?

00:43:43.760 It's a hedge, but it's certainly not an investment.

00:43:47.080 What you've just made this fundamental point is that it's not simply central banks anymore.

00:43:51.260 It's also investment funds.

00:43:52.900 And one of the reasons is people are looking for the potential for a hedge because they know that Trump's not going to bail out.

00:43:59.320 There's no bailout coming from Trump.

00:44:01.120 Is that essentially your thesis?

00:44:02.240 There's not going to be a Trump put like there was a Greenspan put for decade after decade, sir.

00:44:07.960 It's exactly my thesis.

00:44:10.540 And honestly, it even surprised me, right?

00:44:13.340 But Trump is standing firm and he's doing what needs to be done.

00:44:16.920 And ultimately, I think investors at the moment are realizing that there isn't a safe alternative, right?

00:44:22.620 Between capital markets suffering their worst quarter in three years, the federal government's record deficit in February, nothing at the moment looks safe.

00:44:32.860 Factor in Liberation Day coming April 2nd, right?

00:44:36.420 There's a ton of volatility, widespread trade disruption.

00:44:40.980 And I think gold is looking more and more and more attractive in periods of instability and ultimately a lack of options.

00:44:47.700 I mean, sitting in cash or equivalents doesn't even work today.

00:44:51.300 So I think a combination of all of these forces making gold more and more attractive and projections are rising every single day.

00:45:00.260 They're now saying 4,500 in the next two years.

00:45:03.320 So no surprise with gold prices, but I expect them to continue to rise.

00:45:08.940 What do you, for people that this is all foreign to, they've never done this before, right?

00:45:17.300 I know you've got a bunch of instruments, you know, whether 401ks, you know, ERAs, IRAs that you can do with, you know, to basically defer taxes for a while.

00:45:27.100 But how do people actually figure out, you know, hey, I want to own physical gold, who I talk to.

00:45:32.680 So walk through the methodology of how people should get engaged with you guys now.

00:45:37.620 Of course.

00:45:39.360 So look, I mean, as you know, what's very important for us at Birch is information, right?

00:45:44.900 So it all starts there.

00:45:46.440 People can reach out.

00:45:47.640 It's Bannon to 989898 or birchgold.com forward slash Bannon.

00:45:53.000 That's going to get them access to a lot of free information, whether it's the end of the Dollar Empire series written by yourself, guides on how and why to invest in gold, specifically under a Trump administration, understanding the problems in front of us.

00:46:09.840 You know, get reading, get educated, because I think the best decisions can be made from an informed perspective.

00:46:15.940 It's why information is so important to us.

00:46:19.000 From there, they can reach out.

00:46:21.300 They'll have access to either myself or one of our precious metal specialists, just like myself.

00:46:26.600 We're there to answer questions, to explain things, to hold people's hands and guide them through the process.

00:46:33.080 And ultimately, from there, we have, you know, processing departments, customer service departments.

00:46:38.640 We're a large organization that are there to support the customers for the life of the account.

00:46:43.700 But as we always say, it starts with information and birchgold.com forward slash Bannon.

00:46:49.800 That'll get them access.

00:46:53.540 Philip Patrick, thank you very much.

00:46:55.920 Honored to have you on here.

00:46:56.820 Thanks for changing your schedule around today, given the importance of this Financial Times article.

00:47:00.980 Just before I leave, you agree with me that the Financial Times has to sell it.

00:47:05.100 It's all Trump's tariffs calling this.

00:47:07.560 That is an element of it, but nothing could be farther from the truth the way they try to position this.

00:47:12.200 It's absolutely correct.

00:47:14.420 Look at Gold's performance.

00:47:15.660 It started its tear in 2022.

00:47:18.520 Okay.

00:47:19.000 There's no coincidence.

00:47:21.080 Absolutely not.

00:47:24.100 Unbelievable.

00:47:24.780 Information warfare coming from the pages of the Financial Times.

00:47:28.520 Philip Patrick, thank you so much.

00:47:30.860 Thank you, Steve.

00:47:32.080 Folks, take him up on his offer.

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00:48:28.920 That's what we have.

00:48:30.880 All of our the companies, our sponsors have tons of information on the sites, and we want you to ask questions.

00:48:37.340 I mean, we get Comstock on here for a sacred human health, and he'll give you his email, and he'll get in direct conversation with you.

00:48:46.380 So it's a burden, particularly he's trying to, he's, you know, managing a growing company, but we think it's absolutely, you know, essential.

00:48:52.820 It's critical for you to do this.

00:48:54.800 This is why a couple of other examples, Jace Medical.

00:48:57.640 You know, the PLA is having this naval exercise around Taiwan right now.

00:49:03.300 It's one of the things that Jim Fennell and these guys tell me every day we've got to keep our eye on.

00:49:06.920 The Chinese Communist Party is making moves.

00:49:09.280 One move they're going to make, and we haven't solved this from the pandemic when we became aware of it because of Rosemary Gibson and her great book.

00:49:16.380 They talk about the strategic stranglehold that the Chinese Communist Party have on supply chains, and particularly on medical supply chains.

00:49:23.520 Remember, you couldn't even get a mask made over here?

00:49:25.420 But they have that.

00:49:25.980 That's on the generic drugs and the active pharmaceutical ingredients.

00:49:29.220 It was Dr. Sean Rollins and this team that actually built a company around having a solution for that.

00:49:33.420 So go to jacemedical.com today.

00:49:36.160 Put in Bannon for a discount.

00:49:37.360 But most importantly, get on the site and just think it through.

00:49:40.360 Walk through the logic that they put in there, and you'll see, wow, I didn't even know I had this exposure.

00:49:45.580 And you can get ahead of that.

00:49:46.620 One of the things we want to make sure people do is you don't get caught in these jams where something happens, like when the pandemic hit.

00:49:51.600 Remember, we shifted the show from impeachment to pandemic.

00:49:54.780 People are like, wow.

00:49:55.640 At first, oh, is this just going to be a cold?

00:49:58.640 Well, it wasn't that.

00:49:59.500 But, hey, we know it didn't require a vaccine to solve.

00:50:03.760 After time, we get more and more information about it.

00:50:06.300 But the trauma that the nation went through at first in trying to sort this thing out, one of the big problems was the supply chains were totally controlled by the Chinese Communist Party.

00:50:16.240 So make sure.

00:50:16.740 Anyway, check it out with Jace Medical Day.

00:50:18.280 Also, Rickards, people have loved Birch Gold and what we've done with the end of the dollar empire and the emphasis we put on capital markets and how it ties to politics and how you can't understand one without the other.

00:50:29.940 Jim Rickards was a follower of the show, eventually wanted to become a contributor.

00:50:34.140 He's done a great job.

00:50:34.900 People love when Rickards is on.

00:50:36.660 But go to RickardsWarRoom.com.

00:50:39.400 You can actually get Strategic Intelligence, which is this fabulous newsletter.

00:50:42.940 And Jim will throw in free the book about capital markets and artificial intelligence.

00:50:48.420 And that one you ought to read.

00:50:50.060 That'll keep you up at night.

00:50:51.720 OK, the right stuff is going to take us out a hell of a day.

00:50:54.660 We're going to be up on Getter and on, I think, Twitter, Grace and Mo and others.

00:50:59.320 Giving updates on the election returns tonight.

00:51:03.940 I'll be moving around, but I'm going to try to get up there as much as I possibly can.

00:51:07.380 But Wisconsin and the two Floridas, big.

00:51:09.920 And then we're on the eve of, I think, the biggest day in President Trump's second term, Liberation Day is tomorrow.

00:51:16.500 We know right now it's going to be pushed back later in the afternoon.

00:51:18.900 So we'll get it all in.

00:51:20.940 We're going to do it live tomorrow.

00:51:23.040 Plus, the morning show is going to be amazing.

00:51:24.980 Join us back here at 10 a.m.

00:51:27.200 Eastern Daylight Time, EDT, tomorrow morning when you'll be back in the war room.

00:51:32.680 See you then.

00:51:33.040 We'll be right back.

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00:55:12.740 Hey, there.

00:55:13.240 Stay.

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00:55:27.860 Stay warriors on the way.

00:55:28.280 Bye.

00:55:28.960 Then, go ber��겠습니다. 0.75

Bannon's War Room - April 01, 2025

WarRoom Battleground EP 737： Investors Flock to Gold; CIA⧸Britain's Hidden Involvement in Ukraine

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