
Episode 4099: Continued Rise Of Economic WarFare ...
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Steve Bannon
This is the primal scream of a dying regime. Pray for our enemies because we're going.
Jason Trenor
Medieval on these people.
Steve Bannon
You're just not got a free shot on all these networks lying about the people. The people have had a belly full of it.
Jason Trenor
I know you don't like hearing that.
Steve Bannon
I know you try to do everything in the world to stop that, but.
Jason Trenor
You'Re not going to stop it.
Steve Bannon
It's going to happen. And where do people like that go.
Jack Posobic
To share the big lie?
Steve Bannon
MAGA MEDIA I wish in my soul, I wish that any of these people had a conscience.
Jason Trenor
Ask yourself, what is my task and.
Steve Bannon
What is my purpose? If that answer is to save my.
Jason Trenor
Country, this country will be saved.
Jack Posobic
WAR ROOM here's your host, Stephen K. Bann.
Steve Bannon
It's Tuesday the 3rd of December, year of our Lord 2024. We're in the real America's Voice studios in Palm Beach, I think, at least for the rest of the week. Of course, when we're here, everybody is in town. Raheem's down here reporting. Jack Pasovic's gonna join me in a moment. I understand he's got a big announcement about his show today. I think Darren Beatty's around. It's just everybody's around West Palm beach and Palm beach, obviously, for the transition. So a lot going on. I actually give a talk later tonight over at Club 47, this amazing club they have down here in Palm beach with I guess a lot of the war room posse. Look forward to seeing you guys tonight to talk about what's going on. Jim, Rick is with us. Okay. MSNBC has got this article up and folks, we're trying to give you signal and get ahead of this because this is going to be a big one. They're talking about the bond market. The capital markets throughout the world are going to put the controls on Donald Trump, particularly for things like mass deportations and really taking apart the US Government. Jim Rickards, your thoughts about that, sir?
Jim Rickards
Thanks, Steve. And I read that article. My first reaction was to laugh out loud. And my second reaction was, I guess MSNBC reporters don't have enough to do today. But seriously, one of the things about having been around for a while is I was actually around when the real bond vigilantes were active in the 1980s. But even before that, I started my career, 10 years at Citibank as their international counsel. I got one on one tutorials by Walter Wriston. I was one of the up and comers. Wriston's probably the second greatest banker of the 20th century after Pierpont Morgan, he explained to me how the Eurodollar system actually works. So we'll come back to that in a second. But the first thing is the Federal Reserve is impotent. The Federal Reserve is best understood in Jay Powell. It's like one of these Las Vegas magician shows. They're very popular, but don't look too hard at the tricks. It's all for show. It means very little in terms of what we're actually concerned about, which is the government bond market, number one. Number two, the Fed controls short term interest rates. When I say short term, I mean an overnight rate. You know, banks lending to each other overnight, ok, they can tweak that. They don't control the yield maturity on 10 year treasury note, they don't control the 30 year bonds. And the second stage of my career, another 10 years, I was counseling credit officer at one of the primary dealers that. Primary dealers, for those who don't know, they're the dealers who actually get to deal with the Fed. And there aren't many, there are about 20 of them. They actually get to deal with the Fed. So I dealt with the Fed every day for a long stage in my career and know how that all works. So here's the thing. The MSNBC article quotes a couple of stories. One of them was Bill Clinton's shock at learning that he had to pay attention to the bond market. That was in 1993. The other one was the original bond vigilantes from the, from the mid-1980s. OK, true enough, but one story is 30 years old, one story is 40 years old. That's reaching back pretty far. The situation today is the following. If there are bond vigilantes, they're in the People's bank of China, they're in the European Central Bank. In other words, it's the central banks and the sovereign wealth funds, number one. Number two, there's a global dollar shortage. And when you say that to people, they're like, what are you talking about? The Fed printed $10 trillion. How could there be a dollar shortage? When the Fed prints money, they buy bonds from the bank. The money does come out from the banks. That money comes out of thin air. But the banks give it back to the Fed in the form of excess reserves so that money doesn't go anywhere. You're just inflating the balance sheet of the Fed. Real money, the kind that drives the economy, the kind that you and I or anyone else would care about, comes from commercial banks, particularly Eurodollar banks. They're contracting their balance sheet. There is a dollar Shortage. And when you see China selling Treasury notes, you know, the treasury has these tech tic reports that come out, oh, China is reduced its holdings of U.S. treasury securities. They're dumping the dollar. No, they're not. They're desperate for dollars. They're selling Treasuries to get dollars to prop up their own banks. So the truth is there's a dollar shortage. If we're going to have a dollar problem in the near future, it's going to be because the dollar is too strong. We'll leave that for later. So the bond vigilante story is nonsense.
Steve Bannon
Thank you, sir. You agree with me that right now the scab that hasn't been picked yet is in Ukraine. It's the center of everything. Let's play. We got a little cold open. Jack Basoba is going to join me with Jim Rickards. Let's go and play it.
General Kellogg
You know, John, here's what I'm really hoping. I'm hoping that Jake Sullivan talked to Michael Waltz, who's going to be the incoming national security adviser or President Biden has talked to President Trump and said, here's what I'm going to do. I'm really hoping that happened because what he has done, Biden, through his action, he's actually given President Trump more leverage.
Gillian
Really?
General Kellogg
Because now he can pull back, he can go left, he can go right, he can do something. I think what he did is he basically said, well, this is what I want to do. And I'm hoping it was. There's something to this, I don't know. But it does give the President, President Trump more, more ability to pivot from that.
Jack Posobic
Oh, that's interesting.
Steve Bannon
All right, just one quick question before we let you go.
Jack Posobic
We have like five seconds, General, but.
Steve Bannon
So you're not buying the White House is the Biden administration's justification that they launched, they approved these new long range weapons because of the North Koreans on the ground inside Ukraine?
General Kellogg
It sounds good, but I'm Gillian. What I'm really hoping is there was another reason to it which allows, gives leverage to President Trump. Maybe that may be a good reason to do it. Look, they should have been doing this a year ago by but they've basically pulled back. You do not fight let. You don't fight a war allowing other countries to have sanctuaries. If you're going to fight a war, you fight a war. And we, we've basically pulled back on letting Zelensky fight a war that he should have been fighting a long time ago. I know the casualties were horrific. Yeah, of course, the advantages that he had this last summer are not there anymore.
Steve Bannon
He meaning, let me have it.
Gillian
Wow.
Steve Bannon
We don't want to fight a war. I love General Kellogg. Keith Kellogg's a good man. Former head, I think. 82nd Airborne was in the first term. Mike Flynn's wingman, Jack Vasovic, you're here. So the report a couple days ago the White House said, hey, zelensky, you need 500,000 18 year olds, drop the thing. You need them up as combat troops. Reuters is reporting today, the Guardians reporting today. The Times of London is reporting today that there is looks like a collapse of the Ukrainian front. 200,000 troops either have not reported or are actually leaving the front lines. Russia supposedly massing for a major offensive before President Trump takes it. Looks to me like they're trying to jam up President Trump. But with to General Kellogg, the launching of the long range missiles with our technicians over there. I mean, are you down with that, sir?
Jack Posobic
Well, Steve, I think there's a big question here about which red lines are being crossed and in the comments about we don't want to fight a war with our one hand tied behind our back. Who's the we? I'm trying to figure out who the we is here because if we're acknowledging that it is in fact a proxy war between the United States and Russia, then that's obviously going to change the Russian strategic calculus within the Kremlin. Because guess what they listen to what Keith Kellogg and what Mike Waltz and Steve Bannon and Jack. So they watch everything. They watch everything. We know their apparatus, we know what their media status is. We get it, they translate it, they send it all around. So they want to know what's going on with this new administration. And the Russians don't necessarily. And for all the talk of Russia collusion, they don't necessarily just trust the Americans when it comes to anything. So they hear, oh, this guy talks a big peace plan, but then the next one comes in and overturns everything that guy did. So why should we make a plan in the first place? So the hardliners are over there saying right now, why should we bother with the peace process? The frontline is in collapse. You got conscripts that won't even show up. They're trying to drop the age to 18. You've got a couple of these units that across the line into Kursk. Meanwhile, Russia has already taken back 50% of the territory in Kursk that the Ukrainians put over. And they're encouraged, they have no idea what they're going to do with, by the way, they're holding a couple of settlements that are, you know, essentially worthless to, from a strategic perspective. They're not on any strategic highways or strategic lines of communication. There's no supply lines that are being cut off. It's all being done. For media. Oh, we invaded Kursk, we invaded the motherland. And so you have the response with the long range missiles. But here's, here's what I want to understand is we can't be glib about this. And I said this yesterday on the program. We can't be glib about these types of things. Are you, do you mean to say that Donald Trump signed off on long range missile strikes into Russia? Because it sounds like what you're saying. Keep in mind.
Steve Bannon
Was that what it was saying? Right?
Jack Posobic
I mean it sounds like that's what's coming out of there. And keep in mind, Joe Biden has never come out publicly and said that Jake Sullivan won't even come out and officially say that we get these leaks, right? We only get these leaks that come out. And this is done. Why it's done strategically because there are people even, even Jake Sullivan understands that. You don't publicly announce you're attacking.
Steve Bannon
On Jonathan Karl on Sunday, Jake Sullivan said we're not. The New York Times reported senior officials in the Biden administration, senior officials in Brussels and in NATO and the senior guys in Kiev had meetings talking about the redeployment of the old nuclear weapons that Ukraine had back to Ukraine. He denied that. Jim Rickards, your thoughts on the center? By the way, this is why Hunter Biden's got it. Got a pardon that goes back to January of 2014 for the color revolution. Your thoughts on Ukraine, sir?
Jim Rickards
Path to nuclear annihilation. And that is not an overstatement. I've studied this since, I personally studied this since the 1960s and the scholarship goes back to the 1950s. Every expert agrees that nuclear war does not come out of the blue. It happens through escalation. One side does something provocative, the other side answers and so forth. And you keep going up the ladder. Herman Kahn called it a ladder, had 44 steps in his version. We keep climbing up the ladder. What Herman Kahn said, what you have to do, number one, realize you're on the ladder to nuclear, nuclear annihilation. Number two, take a beat, stop. Number three, climb down. That's what Castro, sorry, that's what Kennedy and Khrushchev did in the 1960s. There were other cases in the 1980s where that happened. So we're on that ladder right now. I'm shocked at how little American policymakers understand about Russia. Used to be a real specialty, but it's been lost. They think of Russia as something in the 1990s with Brezhnev and. Sorry, with their leadership, Yeltsin and that kind of loosening up. The 1990s were an anomaly. It was a 400 year anomaly. You first of all have to understand the Russian way of war. The Russian way of war is very slow, very methodical and deadly. They create cauldrons. It could take six months to encircle you and then they kill everybody in the cauldron unless you surrender. They're doing that one by one. The front is collapsing, the Russians are poisoned for a major advance to the Dnieper river and Putin doesn't have to. What's to negotiate? There's nothing to negotiate. The negotiation would say, okay, you can keep the four provinces that you've already turned to the Russian Federation, maybe two more. Maybe, maybe Sumi. And Putin doesn't care what anyone says on any US Network. Policymakers. The missiles are landing, the long range missiles are landing in Russia. It doesn't matter. Oh, did we leak it? Did we say it? Is it a policy? Is Trump bound by. It doesn't matter. They're landing in Russia. The second thing people don't understand, Putin doesn't bluff. He does not bluff. When he says something, he means it and he'll do it. So stop kidding yourself. Stop saying, oh, well, we dial it up, they'll back down. We're going to wear out the Russian economy. Russian economy is outperforming the US Economy, by the way. So there's very little understanding of the Russian economy or the Russian way of war. One of the ways I get in debates like this and I just ask the person, have you been to Russia? They go, no, no, I read about, well, I've been to Russia. I've been to Moscow. I have friends there. I understand. I've studied the history. I understand how it works. Putin doesn't bluff. He's. He should make no concessions. Why should he? I mean, he won. People die.
Steve Bannon
This is a war, Jim, they've lost a million Ukrainians real quickly because now you get a bounce. Are we on a path now? Are we like in the 1938? Are we on a path to actually a third world war? When I say that, I mean a shooting war, sir.
Jim Rickards
I think when war three, I think that's the best way to describe it. You know, there aren't, by the way, there's no evidence that there are North Korean troops incurs. But they are in Siberia. But, yeah, Putin is systematically killing Americans in Ukraine. When I say systematically, they may be mercenaries, they may not be in uniform or they may be, they may be civilian contractors. But the Ukrainians can't launch these missiles. The Ukrainians can barely fly the F16s and they get shot down when they do because they don't speak English. So Putin is. And Putin doesn't need the Reshnik missile. He's got it. It's basically made tactical nuclear weapons obsolete because that's how powerful and fast it is. But he's got a whole bunch of other zircon and other hypersonic missiles. He's targeting the control sites for the missiles coming into Russia, and he's killing Americans in the process. So you've got your World War three right now, Jim.
Steve Bannon
Where do they go to get your newsletters, the books, all of it? We're proud to have you as a contributor. We love being in business with you guys. Where do people go?
Jim Rickards
Thank you. We have a landing page. It's recordswarroom.com recordswaroom.com you go there, you can sign up for our flagship newsletter, Strategic Intelligence. And we cover all the issues we talk about and a lot more. It's recordswarroom.com will drive a lot of traffic there.
Steve Bannon
Jim Rickards, he's saying we're in the shooting part, early stages of World War 3, of all places, on the Eurasian landmass. Oh, my Lord. JIM Rickards, thank you, brother Jack. Vasobeck's gonna stick with us here in the real America's Voice studios in West Palm Beach, Florida. Short commercial break make sure you go check out Birchgold. Better than ever. Gonna have a shooting war. Might as well talk to Philip Patrick and the team on some financial alternatives. Birchgold.com Bannon short break. Poso will join us after the break.
Jason Trenor
Big victory on the 5th of November. Now the work can finally start on the big issues facing the country. One of the biggest is the national debt and the deficits that drive it. Hey, you think the country's broke? The country is broke. We're just printing money to keep this house of cards going. The strategy remains the same for you. You got to diversify, diversify your savings. That's why buy gold from Birchgold. So many things are out of your control, out of the president's control. It's important to have a safe haven for your savings. Birch Gold group, my gold company will help you convert an IRA or 401k into an IRA into physical gold. Let me repeat that. Convert your IRA or 401k into an IRA in physical gold. And the best news, it doesn't cost you a penny. Text BAN into 989898. Get your free info kit. Plus right now through Black Friday, you receive a free 1 ounce Silver Eagle for every $5,000 you purchase. Let me repeat that, a free 1 ounce Silver Eagle for every $5,000 purchased. Protect your savings with Birch Gold. Text Bannon to 9,898 98. And claim your eligibility for your free silver today.
Jack Posobic
Here's your host, Stephen K. Bannon.
Steve Bannon
Okay, folks, of everything that's going on, it's so much we're trying to make sure we keep these different verticals so, you know, we can tie it all together. The one that's getting increasingly dangerous every day is this third world war on the Eurasian landmass. Now up in Syria, it's the Persians and the Russians. We said for years you got to make sure that the Chinese Communist Party in Beijing and the KGB in Moscow coupled with the Persians in Tehran cannot merge together. Jack Basoba Gwatmithu the war against the.
Jack Posobic
Empire, well, particularly now, what we're seeing here in Syria, it can't be delinked from Erdogan and his goal of establishing.
Steve Bannon
The reestablish of the Ottoman Empire Neo Ottoman caliphate. So I've said for years he's part of this with Russia and with, and with, and with the Persians.
Jack Posobic
Well, there's an interesting, there's an interesting wild card that everyone's playing a very dangerous game right now because he has linked up with Russia in the past. However, on Syria, he is in direct opposition with Russia because Russia backs Assad. So what he's doing is pushing down through those northern areas. Why? Because they want Aleppo, they want to establish the buffer zone there. And then what's, what is just to the east of that, of course, is Kurdistan. And they want all of Kurdistan, by the way, to include, wait for it, the Iraqi side. They will. He wants Iraqi territory. He wants complete control of those border crossing. This is how ISIS was able to come to power, because they controlled the oil lands, they controlled the border crossings, and then they were the ones selling oil to wait for it. Erdogan SON when all of that was going on, that's how ISIS was able to expand so quickly, because they were selling the oil out of Kurdistan. They controlled all of it. Man beach we talked about yesterday, that's where Shannon Kent made the ultimate sacrifice. And Joe Kent's wife, who. Who lost her life there in the middle of all this, because we had American troops in the middle of this absolute hornet's nest. But we are looking at what you're looking at writ large. You put all of it together. You got Hezbollah on the south. You got Syria. You got the Turks, you got the Russians, of course, playing in there as well. Wagner is still into an extent, though not the way they were before. The US Is still into an extent, not the way they were before. The Kurds are trying to fight. Find anybody who will support them at this point. You tie all that back. Israel, of course, is on the southern end of Syria. That's with Hezbollah as well, with their fight in Lebanon. That's what gives the Turks a free rein up there. Tie that back. Russia and Ukraine. So Russia and Ukraine.
Steve Bannon
Now talk to me about that, because there's three interlocking pieces of this. The pardon for Hunter Biden goes all the way back to January 2014, the beginning of the color revolution. You have, as one of the engine room members are telling me, the administrative state and the deep state. Really, the rise of intel becomes their ability to kind of form the deep state. Right. Is the rise of war. And in Ukraine is the center of that. And that's why they defended so much, because they understand we picked that scabbard. It kind of all the pus that comes out, we can actually use that to actually take down the deep state.
Jack Posobic
Look, look, look. The reason the Hunter Biden pardon goes back 10 years is because Joe Biden was never supposed to be president, because Donald Trump was never supposed to be president. You got to go put yourself back into the mindset of 2014.
Steve Bannon
Hillary Clinton.
Jack Posobic
Hillary Clinton was supposed to be president. And all of this was charisma and all the rest of it. This was the nest egg. This was Joe Biden's nest egg. This was the payoff to the Biden family. Hey, appreciate all the buddy, buddy work, you know, copilot thing, the bromance with Barack Obama. Good stuff. You're going to take this. You're going to move up. Why? Because Barack Obama passed over Joe Biden in 2016 when he endorsed Hillary Clinton over his own vice president. Everybody remembers this, and he said, I'm not going to support you, Joe. Joe took that as a backstab. And so the money, the burisma looking the other way on all this, this was supposed to be the nest egg, a little bit of, you know, maybe they could even call it hush money to ask to say, go away and go enjoy a quid pro. Quid pro quo, a Ukrainian quid pro quo, if you will. And keep in mind, keep in mind that president, you know, fast forward a couple of years, President Trump gets impeached for asking, for asking who Zelensky is on the other end of the perfect phone call asking him about the crimes that Joe Biden just pardoned his own son.
Gillian
Repeat that.
Steve Bannon
Nobody in mainstream media, nobody in the right is talking about this. This is the key point, talking about the impeachment, how it links back to this party.
Jack Posobic
Put it all together. This is the Vindman's, this is Eric Sharomela, by the way, we're going to say this. And this was the problem with the rat's nest of the original NSC of the first Trump administration, because you had.
Jason Trenor
McMasters came in and basically came in.
Jack Posobic
And was lying to him about troops wear in Syria and saying, we need boots on the ground, we need to fight more against Assad because he wanted to get more Americans involved in a ground war in Syria. That was McMaster. Then you have these NSC types who they would, they were told to be left on and said, don't worry about them. These are career professionals. Career professionals. We got to leave them on. And there were people who were associated with Trump's original NSC who said that they should stay and say that they shouldn't be left off. Like the Vendmans, both brothers, by the way, and like Eric Charmella, all of who leaked the transcript of. And by the way, they edited the transcript when they sent it over. They made the whistleblower report. Remember, they never gave you the actual transcript. The quid pro quo wasn't there. Even Zelensky at the time came out and said there was no quid pro quo, felt no pressure. And President Trump had said that when he met with him at Trump Tower here a couple of weeks ago. And all of this was predicated on President Trump reading about Burisma, reading about the inextricable link of the Biden criminal family enterprise to Ukraine, realizing that there was something wrong that had gone on there and going to Zelensky, who had run at the time. Keep in mind 2019, he had just been elected at this point, and his only election, by the way. And he was saying that he was running on anti corruption. That's what Zelensky first ran on. So Trump calls him up and says, hey, make good on this. What's this whole deal with the Biden family Burisma? And keep in mind that Ukraine and Russiagate had Already been waged quite, quite strongly at this point. You're in the midst of Mueller, you're in the midst of all these things. And it was the Ukrainians, remember who they used?
Steve Bannon
They used the lessons. Exactly. Manafort. They used the lessons of the color revolution.
Jack Posobic
Yes.
Steve Bannon
On Trump in his first term and then to steal the second election.
Jack Posobic
He's calling the play because he sees what's going on. He says, wait a minute, something went on in Ukraine, and that's similar to what's going on on me here. So if I pull, he understands, where is this?
Steve Bannon
Is this.
Jack Posobic
I pull this card.
Steve Bannon
And this is why Cash Patel is essential. And this is why they will move out everything to stop Cash. Right.
Jack Posobic
Look, this is why they will say that Cash, who's got the resume, by the way? He's got the resume, and you can't take it away from him. He's got awards for terrorists that he was capturing and tracking down under the Obama doj. He was hired by the Obama doj. He's got a resume after being hired by you guys. Your National Security division, by the way, prosecuted more cases than. Wait for it. Kamala Harris. All right, so more qualified than Kamala Harris when it comes to actually being a trial lawyer and having the qualifications to do this. But the issue is that he had also been a public defender. And by being a public defender, he understood what it meant for someone to be wrongfully accused by the U.S. government. Steve, you might know something about that. And so Cash goes in there with Devin Nunez and he starts. He just starts reading. He just starts reading the documents, and he's one of these guys. And Raheem was saying it earlier.
Steve Bannon
And then Paul Ryan, he pulls it all out, makes Nunes recuse himself.
Gillian
Right?
Steve Bannon
The whole thing, the whole thing is a complete setup. And this is why Cash knows that. Real quick, I've only got a couple of minutes. I know you got to get ready for the show. Your show is very special today. Who are you going to have?
Jack Posobic
We've got Darren Beatty in studio right here at this desk. It's dirty laundry day. It's going to be dirty laundry day for the regime. We're going to walk through. Through Ukraine, we're going to walk through Syria. Professor Beatty will be here in studio. He's driving up. It's dirty laundry day. And we're so excited to air just as a.
Steve Bannon
As a headline. You got to watch Jack at 2. We're going to be back 5 to 7. We're actually going to have about the Supreme Court case. Tomorrow on transgender ideology, this Tennessee case is going to be important. We have a whole hour on that. I'm a host that at 6:00. Jack, Ukraine, the battlefield conditions. Is Ukraine going to collapse? So much is going to put President Trump at a disadvantage, try to cut a peace deal.
Jack Posobic
Well, the disadvantage would be from a perspective of how much of Ukraine do they want to remain onto. You're essentially.
Steve Bannon
Well, if they go to the nipper, you know their history. I mean, you're an intelligence officer. They didn't give up a lot after World War II with the Russian tanks.
Jack Posobic
Never said, Zelensky has never said before that he'd be willing to give up territory. And he said that this week. He has said that this week. But he wants in exchange NATO membership.
Steve Bannon
Wasn't that what caused the war in the first place?
Jack Posobic
That's what caused the war in the first place.
Steve Bannon
I don't think that. I don't think that will happen.
Jack Posobic
The Russians have said no. Zelensky has also rejected security assurances in exchange for NATO membership. So essentially what Russia is going to then do and what the hardliners are calling for is they are going to turn Ukraine into just given the current trajectory, they are going to turn Ukraine into a rump state, a dysfunctional rump state, which has potentially. And if they get everything they want, they don't just want all the way from the four provinces, the four oblasts they have already. They want to go back across the river and they want to take Odessa. You take Odessa, you take the entire coastline, Nikolai, all the rest of it. Cut off Ukraine from the Black Sea. So you then cut them off from the ability to export any grain, any of that grain from the black.
Steve Bannon
Remember, they're the Kansas of Europe.
Jack Posobic
They are the Kansas of Europe.
Steve Bannon
And.
Jack Posobic
And they are the only place in the breadbasket of Europe that is not controlled by the EU. So they don't have the ban on the GMOs. This is why Monsanto, that's why all those blackrock, all the rest of it.
Steve Bannon
That'S why all the demons are there.
Jack Posobic
That's why they want to get in. So you put that all together and Russia will say, fine, we're going to take complete control of this and you want anything else you can come out of us. And a state like that is just not going to have anywhere near the economic prosperity to exist on its own. That rum state collapses itself.
Steve Bannon
Charlie Kirk follows us here at noon. Jack Basil is going to be a two. We'll be back five to seven. We got A one hour special tonight. Six you're not going to want to miss on the transgender ideology at the Supreme Court. Arguing the Supreme Court tomorrow. Where do people go for your Twitter feed? Now more than ever, Jack is Real time breaking news in the third World War. Where do folks go?
Jack Posobic
Look, it's the Twitter feed. Of course people can see. This is, this is the imperial war that we are in. We're putting up, by the way, a new putting the finishing touches. The audiobook for Bulletproof will be out very soon. Read it myself this time around because people said they wanted that. So we're going to put a bundle up for Bulletproof end on humans for Christmas and then of course today the dirty laundry day on Human Events Daily. Myself Professor Beatty, we are going to go all around the horn from Mackinder to Kenan to Mahan Makinder.
Steve Bannon
Little geopolitics there a little bit. Jack Basovic, Darren Beatty at 2:00 right here on Real America's Voice. Okay, make sure, by the way, Cash, you want to know about the target list? Is that what you call it, a hit list?
Jack Posobic
No, no, no, Steve, no, no, no, no, no, no, no. Persons of interest, persons of interest, persons.
Steve Bannon
Of interest go to go to war rooms. You've got government gangsters. We took the book and we made a film with cash. It's Must See, which came out a couple months ago. I guess it came out right when I was about to go to federal prison. Short commercial break Jason Trenard's in the House Next, here at Real America's Voice, the War Room.
Jason Trenor
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Chris Hayes
Who was elected by voters basically begging for relief from high prices, who openly plans an inflationary trade war with tariffs so insane that even Canada's most famous right wing politician, Ontario Premier Doug Ford, said they were like a family member stabbing you in the heart. This week, Mexico's president sent Trump an open letter blasting the tariff threat, suggesting the US Would face punishing tariffs from retaliation, which is usually how this goes. And still many Americans seem to be taking Trump neither seriously nor literally on this campaign promise. If you're one of them, you might want to take note of a Trump administration appointment. Today, Trump announced his choice to be the US Trade representative lawyer named Jamison Greer. Now, Greer previously served as chief of staff to Trump's former U.S. trade representative, Robert Lighthizer. He's the architect of that tariff. The tariffs they did the last time around on 370 billion worth of Chinese imports. Those tariffs, as we reported on the show, spurred a trade war, nearly broke the backs of American farmers who lost access, access to their top Asian market. Just like the Tories and trusts in London two years ago. Donald Trump has told us what he plans to do. And just like them, the critics have said this looks like it's going to be devastating if you do it. And now I guess we just wait, right, to see if we're about to enter the finding out phase of the story.
Gillian
We were to get in a situation where investors are spooked by the bond market. You could easily see, you know, a pretty good sell off. And also you could see that the steepening would, would have to happen pretty drastically. And you know, the market's just not looking at that. But duration, risk is up price properly.
Chris Hayes
And oddly enough, there's a pretty concrete example of this exact thing. Same thing, okay.
Steve Bannon
When I got one of the most brilliant guys on Wall street. Okay, here's the thing. And Jason Turner joins me. We'll find out why. Jason's just wandering through West Palm beach randomly here in a moment. But, but you weren't the smartest guy. Okay, so this Chris Hayes last week did a very smart piece for their side talking about Liz Truss and the fiasco they had a couple of years ago when they didn't put any numbers and they try to have a supply side cut without being able to back it up with a set of math. And she got crushed by the bond market and trying to say f around and find out Trump's trying to do the same thing. MSNBC today has Another opinion piece, how the bond vigilantes are going to come and discipline Trump, both on tariffs, on mass deportations, on Elon and Vivek and Russ vote trying to disaggregate the administrative state and try to get some spending cuts in here. This is going to be revolt. Walk me through, because President Trump, on the other hand, has laid out a pretty rational plan of what to do here, but it's being misinterpreted overall. And I want to make sure this audience is ahead of this, because I can see now, since the resistance is breaking down everywhere as President Trump gets ready to go on January 20, that they're going to try to use the global capital markets, that that's what's going to discipline Trump.
Gillian
Well, listen, it's not. I don't think it's going to work because the US has the world's reserve currency. That's something Liz Truss didn't have. And I can tell you what's being talked about in terms of Doge, in terms of Vivek and Elon is unlike anything I've seen in the past 50 years. So the whole idea that you're going to cut government spending is really almost unheard of in the industrialized world. The night of the election, I flew to Korea, believe it or not, where.
Steve Bannon
They have Marshall Law today.
Gillian
No, I just got it in under the wire. But by the time I landed on Thursday morning, I left Tuesday night. On Thursday morning, the institutional investors I talked to in Seoul, Korea, were talking about Doge, and almost with a sense of awe in the idea that an industrial power would actually seek to cut government spending. I went to, then went on to London and Europe. The same thing took place. The bottom line is that since President Trump has been elected, bond yields have come down. Yes, they haven't gone up. So the stock market's gone up, bond yields have come down.
Steve Bannon
And that means they believe in his.
Gillian
Business and the currency has strengthened. So to me, there's something the reserve currency gives us a lot of flexibility to do things that other countries and.
Steve Bannon
He put a shot across the bow, the BRICs, to say, hey, you do 100%. Now, I still think their big complaint is the deterioration of the dollar purchasing power. But his economic plan is going to take care of that. You're not going to see the deterioration. So under buying, that's the central, central part.
Gillian
To me, the most dangerous thing for the dollar is continuing to run budget deficits that are 6 to 7% of GDP at full employment. That's, that is very. Because We've never run budget deficits of that magnitude. $2 trillion. Roughly $2 trillion a year. When the unemployment rate was ever below 7, it's now below 4. So a lot of the, this has been a smoke and mirrors economy for.
Steve Bannon
The last couple of years spending you. But okay, if they can. Okay. The Wall Street Journal today puts on its cover above the fold which they're telling you this important story. Le Pen, our friend from France is bringing down the French government over a budget because their spending is random. Number six, their deficit's 6% of their GDP they can't afford anymore. The austerity program puts it on the workers. And she's saying, no, I want to take it from the globalists. They could have a new government by this afternoon. This is a global problem, correct?
Gillian
Absolutely.
Steve Bannon
We're totally overleveraged and we're about to. And this is what Trump can get you ahead of, is to get you ahead of a global margin call by putting in rational plan of hey, we have to not just take down the deep state and the administrative state, but we have to at the same time with that, cut this massive spending.
Gillian
Amen. And that's globally. And I would say, unfortunately, there's a lot of people in Washington, a lot of people around the world that are more interested in being citizens of the world than citizens of the United States. I know the international post war international rules based order was designed to get peace. The problem is it went too far and you're hurting American people with a citizen, especially since China joined the wto.
Steve Bannon
You're a big fan of Scott Bess and his plan.
Gillian
Huge fan.
Steve Bannon
Okay, so. And you're a fan of his because he's not just. He's a safe pair of hands, right?
Gillian
Absolutely.
Steve Bannon
And you need to say, pair of, you got to have these. Hey, Cash Patel, HEG set to go into these apartments and disaggregate for the Treasury. You need a guy that the capital markets, when he says something, they believe it. His 333 program is 3% economic growth predicated upon doing spending cuts. Right. And revenue growth. That gets us to 3% deficit, not a 6 or 7%.
Gillian
That's right. And then, and then he WANTS I think 3 million barrels or you know of.
Steve Bannon
Because cheap, cheap energy is the predicate in the industrial age for a growing economy. Am I right? Am I wrong on this?
Gillian
It is an immediate productivity enhancement. And why on earth would a country not take full advantage of its, of its own natural resources? Up until 1945 countries would go to war with one another over natural resources. Here we're ignoring them and basically enriching countries like China that say that there are good actors on the environment, which we all know is a joke. So this is something we have to start focusing on mending fences here at home, on bolstering the middle class here at home, because it's been too long. And the system that we've created has been enormously good for rich people, but it's been terrible for the average person. We have this thing, you might know, the common man cpi, which just looks at things that are its food, energy, shelter, utilities, children's clothing and insurance. What you found is that during the Trump years, people's standard of living improved wages exceeded that measure of inflation. In the Biden years, people have gotten 5 or 6% poorer. And that, in my opinion, is exactly why Biden lost.
Steve Bannon
And you said this was reflected on the country gave a verdict on the Biden economy on November 5th.
Jim Rickards
Absolutely.
Steve Bannon
Because, you know, we had a referendum based on Biden's account.
Gillian
Absolutely right. And you could see like on, on the surface you say, well, you know, unemployment rates 4 and stock prices are high, inflation's come down. But why didn't it translate into more votes? It didn't translate into more votes because it was enormously good for wealthy people and not good for the average person, the common man. I feel very strongly about that. I also think the Fed has contributed to that in a very big way through something called quantitative easing and the size of their balance.
Steve Bannon
Talk to us about that.
Gillian
Basically, what the Fed has done is largely underwritten the amount of debt. And they talk about bond market vigilantes. You might remember James Carville in 1994 said, I want to be reincarnated as the bond market because it scares everyone. One of the things, one of the unfortunate parts of having QE or having the Fed expand its balance sheet for 15 years is now the bond market doesn't scare anyone. And Republicans, Democrats alike think it's really just a free pass to spend money they don't have. We have to get off of that because again, it's extremely regressive. If you're a rich person with a private equity portfolio or venture capital, you do great. If you're just a person that has a savings account, you get close to zero for 12 years. It's unfair.
Steve Bannon
Exactly. Unfair. One thing we try to do here with the audience, our working class and middle class audience, is to talk to them about, for years, Washington played like free money because deficits don't matter and doesn't impact anybody. Right now, the federal debt on I think a household is $100,000 and individuals $100,000. Households like $225,000. The refinancing of the 36 trillion, the refinancing, particularly the one third has to be refinanced. And like Janet Yellen is doing it like we're Argentina or like old Argentina. Right, right. That is impacting, that impacts inflation into the system where it can't come. That's where people are saying they know something is intuitively wrong. They didn't go business, they can't point it out. But that is the central problem of the system today.
Gillian
Correct. Amen. The US unfortunately under Janet Yellen, especially over the last year, is essentially taken out an adjustable rate mortgage on America's future. The average person would take. The average person would take out a 30 year fixed mortgage.
Steve Bannon
Yes.
Gillian
At low interest rates. Janet Yellen took out an arm. So 55% of our paid your more.
Steve Bannon
Or even worse, paid your mortgage with a credit card, Right?
Gillian
Precisely.
Jack Posobic
Right.
Gillian
So now every time we have bonds that mature and we have to issue new bonds, the interest rate is higher than the old interest rate. So our deficit is increasing just on interest expense alone. So you get nothing for that. It's not productive. And it's, you know, again, it was, I think it was a very crass political move on the part of the Treasury Department to try to help President Biden get reelected. And you know, I would say the new administration, the Trump administration is going to have to work with this is going to have to, is not being dealt a great hand here. And that's why the cutting government spending is an integral part of what.
Steve Bannon
Be specific, be specific because I've said, or as specific as you can. I know you're in discussions with folks around here. We'll talk about that in the next segment. When you say, because I keep saying in World War 3, they're trying to jam Trump up on the border. They're trying to jam Trump up and laying more people in. Before they leave. Talk to me about how President Trump's got. He's been dealt a bad hand.
Gillian
Well, he's being dealt a bad hand because again, part of the reason why the economy is growing is because we're running budget deficits of 6 to 7% of GDP.
Steve Bannon
So if you're creating government jobs or government adjacent jobs so that, that, that.
Gillian
Increases GDP, except in the wrong way. It's not through the private sector, it's not through productive ways. It's through Spending more money. So if you're going to try to reel that in, you need something to replace it. And what I think the President Trump is trying to do and he's going to do is going to focus on productivity in the private sector.
Steve Bannon
This is why we have the, this is why Besant keeps saying this is the last chance for a supply side tax cut, deregulation, de administrative state to get back to the animal spirits of our economy.
Gillian
Yeah, absolutely. Because that's, that's the only way out. Government does not create anything. Government is basically the government can set the tone, rule of law, all those things. It's not completely unnecessary. But in terms of industrial policy, government, government spending to spur economic growth, it doesn't work. The private sector always does it better. And in my opinion, this is why it's going to be difficult for the new administration in a way because they are being dealt overspending and also a term structure of the debt outstanding that is extremely short. So this is why the cutting government spending is so important. You can maintain tax rates where they are. If you actually start to, to cut.
Steve Bannon
The administration, this is going to be vote at omb. It's going to be the appropriations process. It's going to be the team of Vivek and Vivek and Elon and their other team pulling together great people over at Doge. Okay, we're taking a short commercial break. A couple of things. Make sure if you want to see Cash Patel's the Government Gangsters in film version produced by yours truly, make sure you go to war room and go there right now, download it, talk to your friends about it. You got the, he walks through the whole deep state, the disaggregation of it actually talks about those people that drove it. So it's brilliant. It's an adaptation of his very powerful best selling book government gangsters. Birchgold.com, birchgold.com Warham the end of the dollar empire. Remember Rachel Maddow and your team? We're not trying to destroy the dollar. We're actually talking about the elites in our country because the spending have tried to destroy it and what has to happen to get it back. But birchgold.com you get to talk to Philip Patrick and the team or use your phone. Bannon 989-898. Okay, we've got a lot going on. Jason Trenard has joined us here in West Palm Beach. We're going to take a short commercial break. We're going to be back in the war room in just a moment.
Jack Posobic
Spread the word all through Hong Kong.
Steve Bannon
We will fight till they're all gone. We rejoice when there's no more.
Jack Posobic
Let's take down the ccp.
Jason Trenor
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Steve Bannon
Jason Trenard, Are we going to get a lot more of this? You're seeing France, the government's probably going to fall today on exactly the thing they trying to take the deficit from 6 to 3% of GDP. Le Pen is saying you're not going to do it on the back of workers, you're going to do on the back of globalists. Because she knows that we have to do it. Is that going to happen throughout the world?
Gillian
I think so. I think with President Trump in office, I think that's going to happen. I was after Korea, I went to Europe, talked to institutional investors there. They're actually quite excited about the idea that Doge will force the hand of European governments to actually live within their means and actually start making smart choices to prioritize the spending they have. I believe France's government spending as a percentage of GDP is close to 60%. I double check that.
Steve Bannon
The deficit, I think they said is six, six times.
Gillian
But their government is, their economy is almost completely driven by government spending. And that's why there's no, There is no Mag 7 in Europe.
Steve Bannon
Right.
Gillian
There is no Max 7 anyplace else. It's all happening here. And so I believe very strongly that if politicians have to be forced unfortunately to do the right thing, President Trump is going to force other countries.
Steve Bannon
And that's the lie about the bond vigilantes that was to control Clinton and These other people, President Trump's actually driving the narrative that the bond market will respond to. Now they're saying we don't need, you're not going to do mass interpretations. All kind of noise. But right now the bond market saying we like the cut of this guy's jib. We like the cut of Elon's jib. Vivek Russ VOTE we like the team we're seeing because they're serious.
Gillian
I can tell you, Steve, in my career, some of the most dangerous words to say is the market is wrong and markets don't always get it right. But generally speaking, you've had a lot of time to digest this and everything's gone the right way. Currency is strengthened, bond yields are down and stock prices are up. That's telling you that, I mean the devil will be in the details and the execution, but it's telling you that the direction the Trump administration, new Trump administration is going in is a very positive one.
Steve Bannon
Real quickly, you're down here obviously talking to people, helping out where you can. What do you think about the team he's putting together?
Gillian
Well, listen, I think it's, it's tremendous. I'm trying to help out any way I can. But it's, listen, the transition team, I think it looks like a well oiled machine. They're getting great people that want to help. And what about the nominees on Capitol Hill?
Steve Bannon
Your sources are telling you about Scott Besson's confirmation secretary Treasury.
Gillian
I think that's a layup. It's a layup because also Scott's a markets guy which in my opinion, given all the things we said, it's important to have someone that has that kind.
Steve Bannon
Of this is why he was perfect casting for this because all the other people you have, they're going to go off the administrative state, the deep state, everything you need to do the mass deportations. You need a steady eddy that the market, the global capital markets know, understand and trust.
Gillian
Right. And right now we have an academic in there, nice person. But you know, I think we need somebody that's kind of from planet Earth, you know that not from a faculty lounge that knows how market the Common.
Steve Bannon
Man cpi, all the other stuff newsletter if they've sent. You've got this fund out there that trades in this stuff. Where do people go?
Gillian
Yeah. So Strategist ETFs.com and the fund is Strategic Macro Thematic Opportunities Fund. SAMT is the symbol and the fund.
Steve Bannon
Itself, the concept of it is what.
Gillian
Is we focus on big themes and we rotate in and out of Themes when we think themes are changing. But right now it's its artificial intelligence, its industrial power, which we think is going to be enormous to fund artificial intelligence and to power. And power to fund it. We've got green deal.
Steve Bannon
Deal is not going to do that.
Gillian
No. D Global, it's nuclear. It's all the above, but it's not the green muscles. And globalization is another thing we have in there.
Steve Bannon
I tell you what, I would hope the transition spends a lot of time with you, sir. You could be the team that President Trump is fielding on economics and capital markets is the best I've ever seen. And I think Jason Turner will be a great addition to that team. Thank you so much, sir. Thank you. I knew you weren't down here working on that handicap. You're what, a 12?
Gillian
14.
Steve Bannon
14. Okay. Generous President Trump will ask that. Make sure you're not sandbagging him. Make sure you're not going to sandbag him. Jason Trenor, thank you so much. Hometitleok.com make sure you go to home. Title lock we just talked about right now with the debt, I think it's every person. It's $100,000. Every family, I think is 225. That's the rough number. Like you got a second mortgage. Your home's your castle. Make sure nobody can get into your title and monetize it with a hard money lender because they don't want to hear your tale of woe. Go to hometitlelock.com Bannon talk to Natalie Dominguez and all the team over there. Also, warpath coffee. How do we get jacked up here early in the morning in the war room? Warpath Coffee. 5,000 5 star reviews for Tage Gill and the team of Navy seals over there. Put that coffee together. Just unbelievable. My favorite, particularly the dark roast, the French roast. Worked on that for years. Mike Lindell joins us. Mike, what do you got for us? I need talk talk deals, brother. People heard enough talk about the economy. They want to talk about their personal economy. What do you got for us?
Mike Lindell
We got some personal stuff going on here real good. The war room supported us and we're giving back. We're g back. We're running this Cyber Monday and the Black Friday deals exclusive for the war room. We're keeping it going. And all the ones you guys have responded to. The one in the middle there, this is the My pillow premium. This is the queen size, you guys. 1898, 1998 for the King. This is the one we've sold the most of upwards of 84 million MyPillows because they work. Remember, you can wash and dry them all, you know, 10 year warranty. And by the way, all these products, you see the 749 MyPillow 2.0, they're the best Christmas gifts ever. And what we've done, we've extended for you the 60 day money back guarantee to March 1st of 2025. So you can, if you know for any reason, any of these things you buy for Christmas, you got that guarantee that. But they're going to love them. There you got for yourself the mattress topper. You've all wanted me to keep that one up there. 99.98 for the Queen, the king, just a few dollars more. And all of these, the slippers on sale, people forget about that. But there's the bathrobe. We're running this all for the War Room posse. A lot of these exclusives that are on this page. But get there, we have over, I think it's over 300 products and thousands of skus. Another one I want to mention, Steve, is everything is also on sale for the War Room policy. War room@mystore.com everybody. Thousands of entrepreneurs have their products up there for the Black Friday special and Cyber Monday. And for the War room, this is a War rooms exclusive over there. Mystore.com mypillow.com the operators will take both websites. 800-873-1062. This is given back to you guys. We want to say thank you. Thank you. Thank you, Steve.
Steve Bannon
Thank, thank you brother. Appreciate you. See you in the afternoon show. Mike Lindell, Thanks. Keep it right here on Real America's Voice. Charlie Kirk. Two hours of populist nationalism served up hot and urgent. Jack Posobic. After that he's got Darren Beatty.
Jim Rickards
It's what?
Steve Bannon
Dirty laundry day? Taking out the laundry day today. Okay, we're back at five at six o'clock in the six o'clock hour we're actually going to do dedicate the whole hour. Massive case in front of the Supreme Court tomorrow on transgender ideology coming out of the great state of Tennessee. We've got a team of experts. We're going to go through all of it. You can actually argue that this is one of the key elements of the great victory of November 5th. Everybody go to war room.com right now. Check it out. See you back here at five. Charlie Kirk next.
Jason Trenor
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Steve Bannon
Debt?
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Steve Bannon
Com.
Jason Trenor
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Steve Bannon
If you're going to be part of.
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Release Date: December 3, 2024
Host: Stephen K. Bannon
Description: In this episode, Stephen K. Bannon delves into the escalating landscape of economic warfare, discussing its implications on global politics, the bond market, and ongoing conflicts such as the Ukraine-Russia war. Featuring insights from financial expert Jim Rickards and strategic analyst Jack Posobic, the episode offers a comprehensive analysis of current economic and geopolitical tensions.
[00:02] Steve Bannon:
Bannon opens with a provocative statement highlighting the tension between the current regime and its opposition.
"This is the primal scream of a dying regime. Pray for our enemies because we're going."
[00:52] Steve Bannon:
Bannon provides an overview of the episode's location in Palm Beach and hints at upcoming discussions, including a significant announcement from Jack Posobic. He also introduces Jim Rickards to discuss a critical MSNBC article about the bond market and its potential impact on policies related to Donald Trump.
"MSNBC has got this article up and folks, we're trying to give you signal and get ahead of this because this is going to be a big one."
[01:58] Jim Rickards:
Rickards responds to the MSNBC article with skepticism, dismissing the notion that bond vigilantes will discipline Donald Trump. He explains the ineffectiveness of the Federal Reserve in controlling long-term interest rates and highlights the global dynamics affecting the bond market, including the influence of China's People's Bank and the European Central Bank.
"The bond vigilante story is nonsense."
[04:59]
[05:12] Jack Posobic & Steve Bannon:
Bannon agrees with Rickards, emphasizing the central role of Ukraine in the current economic and geopolitical landscape. The discussion shifts to strategic military decisions and their potential economic ramifications.
[05:30] General Kellogg:
General Kellogg expresses hope that diplomatic efforts by Jake Sullivan will provide President Trump with more leverage in the Ukraine conflict. He criticizes the Biden administration's handling of the war, suggesting it has weakened the U.S. position.
"What he has done, Biden, through his action, he's actually given President Trump more leverage."
[05:30]
[07:31] Jack Posobic:
Posobic analyzes the strategic failures of the Ukrainian front, pointing out the massing of Russian forces and the potential collapse of Ukrainian troops. He underscores the possibility of a major Russian offensive before Trump assumes office, framing it as an attempt to hinder Trump's strategy.
"We're on that ladder right now... why should we make a plan in the first place?"
[09:25]
[10:22] Jim Rickards:
Rickards warns of a near-term path to nuclear conflict, stressing the methodical and deadly nature of Russian warfare. He criticizes American policymakers for their lack of understanding of Russian strategies and economic resilience.
"Path to nuclear annihilation. And that is not an overstatement."
[10:22]
[13:06] Jim Rickards:
Continuing his analysis, Rickards declares that the current conflict embodies World War III dynamics, particularly highlighting the strategic positioning on the Eurasian landmass.
"You've got your World War three right now, Jim."
[13:57]
[16:28] Steve Bannon:
Returning from a commercial break, Bannon shifts focus to global economic strategies, emphasizing the dangers of a third world war affecting the Eurasian region. He discusses the alliances and conflicts in Syria, linking them to broader geopolitical ambitions, such as Erdogan's goal to reestablish a Neo-Ottoman Caliphate.
"The reestablish of the Ottoman Empire Neo Ottoman caliphate."
[17:13]
[19:32] Jack Posobic:
Posobic connects domestic political maneuvers, such as Hunter Biden's pardon, to international strategies, suggesting a long-term plan to dismantle the deep state through economic and political interventions in Ukraine.
"This was the key point, talking about the impeachment, how it links back to this party."
[20:58]
[22:57] Steve Bannon:
Bannon concludes this segment by highlighting the strategic missteps of the Biden administration and the potential for significant policy shifts under Trump, particularly regarding economic sanctions and global capital markets.
"We're putting up, by the way, a new putting the finishing touches. The audiobook for Bulletproof will be out very soon."
[27:41]
[31:16] Steve Bannon:
Bannon discusses the potential opposition from bond market analysts like Liz Truss, comparing her economic policies to Trump's strategies. He emphasizes the importance of a rational economic plan to counteract global margin calls and stabilize the U.S. economy.
"President Trump announces his choice to be the US Trade representative lawyer named Jamison Greer."
[32:31]
[33:01] Gillian:
Gillian counters the notion that bond market fears will undermine Trump's policies, pointing out the strength of the U.S. dollar as the world's reserve currency. She notes the positive indicators such as strengthened currency, lowered bond yields, and rising stock markets.
"Since President Trump has been elected, bond yields have come down. ... the currency has strengthened."
[33:37]
[35:00] Steve Bannon & Gillian:
The discussion shifts to global austerity measures, using France's budget deficit reduction as an example. Bannon argues that Trump's administration can lead the U.S. in cutting overspending to avoid a global margin call, positioning it as a solution to economic instability.
"You're totally overleveraged and we're about to."
[35:00]Gillian adds,
"I believe very strongly that if politicians have to be forced unfortunately to do the right thing, President Trump is going to force other countries."
[35:52]
[37:24] Steve Bannon:
Bannon criticizes the Biden administration's fiscal policies, highlighting the unsustainable federal debt and its impact on inflation and household financial health.
"The refinancing of the 36 trillion, the refinancing, particularly the one third has to be refinanced."
[38:44]
[38:44] Gillian:
Gillian elaborates on the detrimental effects of the Federal Reserve's quantitative easing, which has obscured the true impact of bond market pressures. She argues for a return to disciplined government spending to stabilize the economy.
"The bond market doesn't scare anyone. ... We have to get off of that because again, it's extremely regressive."
[38:44]
[40:29] Steve Bannon:
Bannon emphasizes the necessity of cutting government spending to replace deficit-driven growth with private sector productivity. He underscores the importance of strategic economic planning to mitigate the impact of overspending.
"If you're creating government jobs or government adjacent jobs... through spending more money."
[40:52]
[41:21] Steve Bannon & Gillian:
The duo discusses supply-side tax cuts, deregulation, and dismantling the administrative state as essential measures for economic recovery. They advocate for focusing on private sector productivity over government intervention.
"This is why Besant keeps saying this is the last chance for a supply side tax cut, deregulation, de administrative state to get back to the animal spirits of our economy."
[41:32]
[52:01] Steve Bannon:
Bannon wraps up the discussion by previewing upcoming segments, including a special hour dedicated to a Supreme Court case on transgender ideology. He encourages listeners to visit War Room’s website for more information and resources.
"We've got a team of experts. We're going to go through all of it. You can actually argue that this is one of the key elements of the great victory of November 5th."
[52:35]
Steve Bannon [00:02]:
"This is the primal scream of a dying regime. Pray for our enemies because we're going."
Jim Rickards [01:58]:
"The bond vigilante story is nonsense."
[04:59]
General Kellogg [05:30]:
"What he has done, Biden, through his action, he's actually given President Trump more leverage."
Jim Rickards [10:22]:
"Path to nuclear annihilation. And that is not an overstatement."
Jack Posobic [16:28]:
"The reestablish of the Ottoman Empire Neo Ottoman caliphate."
Gillian [33:37]:
"Since President Trump has been elected, bond yields have come down. ... the currency has strengthened."
Steve Bannon [35:00]:
"You're totally overleveraged and we're about to."
Gillian [38:44]:
"The bond market doesn't scare anyone. ... We have to get off of that because again, it's extremely regressive."
In Episode 4099 of Bannon's War Room, Stephen K. Bannon orchestrates a deep dive into the complexities of economic warfare, emphasizing the intertwined nature of global politics, government spending, and market dynamics. With expert insights from Jim Rickards and Jack Posobic, the episode critiques current economic policies, forecasts the challenges of ongoing conflicts like Ukraine, and advocates for strategic fiscal reforms under new leadership. The discussions underscore the urgency of addressing mounting deficits and recalibrating economic strategies to prevent further global instability.