Bannon's War Room Episode 4099: Continued Rise Of Economic Warfare

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.

1. Introduction and Opening Remarks

[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."

2. The Bond Market and Economic Warfare

[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.

3. Ukraine-Russia Conflict and Its Economic Implications

[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]

4. Global Economic Strategy and Government Spending

[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]

5. Capital Markets and Trump's Economic Plan

[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]

6. The Role of the Federal Reserve and Government Spending

[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]

7. Closing Remarks and Upcoming Segments

[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]

Notable Quotes with Timestamps

• 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."

Conclusion

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.