Episode 4105: France Collapses As The Global Economy Shifts

Summary

Episode Summary: Bannon's War Room – Episode 4105: France Collapses As The Global Economy Shifts

Release Date: December 5, 2024

In Episode 4105 of Bannon’s War Room titled "France Collapses As The Global Economy Shifts," host Stephen K. Bannon delves into the tumultuous developments within France’s government, the shifting dynamics of the global economy, and the strategic moves of the Trump administration in response to these changes. The episode features insightful discussions with expert Philip Patrick and touches upon concerns regarding key political appointments in the United States. Below is a detailed breakdown of the episode's key points, discussions, insights, and conclusions.

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1. France's Government Collapse and its Implications (Timestamp: 16:24)

The episode opens with Bannon addressing the recent collapse of the French government following a vote of no confidence. Drawing parallels to political instability witnessed in other nations, Bannon emphasizes the unsustainable financial and business models that plagued France, leading to its downfall.

Key Points:

• Economic Overreach: France faced a deficit exceeding 6% of GDP, unsustainable without being the holder of a prime reserve currency like the US Dollar.
• Policy Failures: Excessive spending without corresponding tax revenue growth led to massive deficits.
• Global Repercussions: The collapse serves as a cautionary tale for other nations reliant on modern monetary theories and excessive debt.

Notable Quote:

"France is a... just like Liz Truss. These are all small examples of the big problem that we've got here." — Steve Bannon [16:24]

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2. Concerns Over Cash Patel's FBI Nomination (Timestamp: 00:00 - 03:04)

Bannon expresses deep concerns regarding Cash Patel's potential nomination to lead the FBI. Highlighting Patel's connections to conspiracy theories and Trump’s allies, Bannon fears Patel may weaponize the FBI against Trump's perceived enemies, threatening the organization's foundational role in protecting America.

Key Points:

• Weaponization of the FBI: Patel’s rhetoric suggests a shift from law enforcement to political retribution.
• Internal Debates: High-level White House aides are conflicted over whether to preemptively pardon individuals to protect them from potential FBI actions under Patel.
• Threat to National Safety: Bannon warns that such changes would make the nation less safe by politicizing federal law enforcement.

Notable Quote:

"His threats, his outright threats, repeated threats to weaponize the FBI... would make us all less safe." — Zach Beauchamp [02:38]

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3. Trump Administration’s Economic Strategy and Deficit Management (Timestamp: 10:42 - 13:36)

In conversation with Philip Patrick, Bannon explores the Trump administration's aggressive approach to reducing federal deficits and restructuring the economy. Emphasizing economic nationalism, their strategy involves significant spending cuts, dismantling the administrative state, and combating modern monetary theory's pitfalls.

Key Points:

• Economic Nationalism: Focus on rebuilding the economy through nationalistic policies and reducing reliance on foreign investments.
• Deficit Reduction: Targeting a reduction of federal deficits from over 6% of GDP to 3% through programmatic spending cuts.
• Modern Monetary Theory (MMT): Critique of MMT and its sustainable application, using France’s collapse as a warning.

Notable Quote:

"People have to understand that Trump's policies are disruptive by design. And quite frankly, they have to be." — Philip Patrick [10:42]

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4. Modern Monetary Theory and Its Risks (Timestamp: 22:40 - 24:08)

Philip Patrick provides an in-depth analysis of Modern Monetary Theory (MMT), explaining how France's recent financial collapse serves as a real-world example of MMT's inherent risks. He warns against unrestrained fiscal policies and underscores the importance of controlling federal spending to maintain economic stability.

Key Points:

• MMT Explained: Governments can finance debt by creating money, assuming they control their own currencies.
• Limitations Highlighted by France: Dependence on global investors makes nations vulnerable to market fluctuations and loss of investor confidence.
• Call to Action for the US: Emphasizes the need for the US to control spending and avoid the pitfalls experienced by France.

Notable Quote:

"Their reliance on global investors to finance its debt made it vulnerable to market reactions, as evidenced by the recent bond sell-off." — Philip Patrick [22:40]

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5. Appointment of Pete Hegseth as Secretary of Defense (Timestamp: 44:31 - 50:02)

Bannon discusses the strategic appointment of Pete Hegseth as the Secretary of Defense, highlighting Hegseth's military background and dedication to combating the Chinese Communist Party (CCP). He lauds Hegseth’s combat experience and leadership qualities, positioning him as a pivotal figure in the administration's defense strategy.

Key Points:

• Leadership Qualities: Hegseth’s combat experience and understanding of modern warfare make him an ideal Defense Secretary.
• Economic and Information Warfare: Focus on cutting the defense budget intelligently while leveraging economic and cyber warfare against adversaries like the CCP.
• Institutional Seizure: Emphasizes the need to flood the Zone (Congress/established institutions) with allied appointees to secure strategic positions.

Notable Quote:

"Pete Hegseth just tweeted out and I think Pete Hegseth is throwing down hard as Pete should." — Steve Bannon [44:31]

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6. The Role of Precious Metals as Economic Shields (Timestamp: 25:57 - 27:19)

During discussions on economic instability, Bannon and Patrick underscore the importance of investing in precious metals like gold. They advocate for gold as a reliable hedge against economic turbulence and declining confidence in fiat currencies.

Key Points:

• Hedging Against Turbulence: Precious metals are portrayed as safe havens during economic uncertainty and potential depreciation of the US Dollar.
• Investment Strategies: Encourages diversification of savings into physical gold to protect against market volatility and inflation.

Notable Quote:

"Precious metals specifically, I think will be a very useful vehicle in weathering that storm." — Philip Patrick [27:19]

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7. Conclusion and Future Outlook (Timestamp: 48:37 - 50:02)

In the episode's closing segments, Bannon reiterates the necessity of seizing control of key institutions to implement the Trump administration’s agenda. He emphasizes the ongoing battle against established orders and the importance of maintaining momentum to achieve fundamental changes in governance and economic policies.

Key Points:

• Seizing Institutions: The administration must continue to appoint loyalists to critical positions to dismantle the deep state and enforce policy changes.
• Maintaining Momentum: Ongoing efforts to engage supporters and expand the movement’s influence are crucial for long-term success.
• Preparedness for Turmoil: Acknowledges potential economic and political turbulence but remains optimistic about the administration's strategic direction.

Notable Quote:

"This is the age of Trump, and I know that hurts the feelings of the mainstream media, but this is the age of Trump." — Steve Bannon [50:02]

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Final Thoughts

Episode 4105 of Bannon's War Room provides a comprehensive analysis of the current global economic shifts, using France's political collapse as a pivotal example of systemic failures. Through discussions with Philip Patrick, the episode underscores the Trump administration's proactive measures to stabilize the US economy, reduce deficits, and counteract modern monetary policies that may threaten long-term financial stability. Additionally, the strategic appointments within the administration, particularly Pete Hegseth’s potential role as Secretary of Defense, highlight a concerted effort to combat both internal and external threats. The advocacy for investing in precious metals serves as a practical recommendation for listeners to safeguard their finances amidst economic uncertainties. Overall, the episode encapsulates a blend of geopolitical commentary, economic strategy, and political maneuvering aimed at fortifying the US’s standing in an increasingly volatile global landscape.

Transcript

[Steve Bannon]

Thing about being in the swamp is you get to sit in the dojo that Steve Bannon built. And that's where I'm operating right now, in my Trump Omania T shirt, because that's what it's all about. That is Cash Patel. That's the man Donald Trump nominated to run the FBI. He's never worked for the FBI, but he does host Steve Bannon's War Room podcast a lot, where he loves to share conspiracy theories. The Chinese the CCP helped fund portions of the Biden campaign. Get the Sergeant at Arms to go out and arrest Merrill Garland. They want everything and every way to r this system, just like the censorship regime. We're going back to Wuhan, we're going back to Corvid origins, and we're going back to another form of a mega virus that can take out China's enemies. They're in on it with the mainstream media, the Biden Harris Waltz campaign, and of course, the FBI. Like so many guys in Trump world, Patel just can't stop talking. Which, you know, game. Recognized game. Zach Beauchamp is a senior correspondent at Vox, where he covers democracy in the far right. His latest piece is titled I Listened to Hours of Trump's FBI Pick on Steve Bannon's podcast. Oh, boy. Express concern about the potential nomination of Cash Patel to lead the FBI. What are your concerns? Yeah, it's a little bit different concern with Cash Patel, and that is his threats, his outright threats, repeated threats to weaponize the FBI. To take it from an organization whose essential function is to protect America and to enforce our laws. Right. Enforce our laws domestically, prevent crime, to train and support local law enforcement. That's actually a role that not a lot of Americans know. The FBI does, that it provides an essential function to train and support and resource and provide intelligence to local law enforcement agencies in our town, sheriffs and police departments around the country, to take it from that and to turn it into an entity whose primary focus would be enacting retribution on Donald Trump's perceived enemies. That is what he has said he will do, would make us all less safe. So, you know, he, again, should not be in this role. Aberration Willie. And why this is so delicate, because the White House counsel and a handful of senior White House aides, including Jeff Zients, the chief of staff, are having this debate right now in the West Wing, which is, do we leave these folks out in the cold and potentially expose them to Cash Patel's FBI and Donald Trump's White House for any number of charges or some kind of show trial to get a measure of revenge and at the very least make them.

[Cash Patel]

Pay six figures in legal bills to avoid such a case?

[Steve Bannon]

Or do we offer preemptively pardons to people who there's no proof they've done anything wrong whatsoever and really may not want to pardon in the first place? That's a real tough call, because if you don't do it and Patel and company come after some of these people and you had the chance to give them inoculation legally, that's a hell of a thing to regret.

[Cash Patel]

At the same time, do you want.

[Steve Bannon]

To pardon somebody like Liz Cheney or Anthony Fauci and suggest any kind of impropriety that could only add fuel to the Trump aggressors in the first place? It's a real tough nut. It ain't that tough a nut, Jonathan. And you're at the home of the Trump aggressors. Yes, yes. You're in the war room. Thursday, the 5th of December, year of our Lord 2024. Right there. Just to set the state of play. It's because there's a couple of fronts on this battle that are being fought. I'm getting word now. Pete Hexis up on Capitol Hill, seeing senators today, we cannot allow the momentum and the scale of President Trump's victory be blunted by the forces of the established order. President Trump was hired this time to make systematic and fundamental changes. That's what he ran on. The American people had a couple of years to weigh and measure this. This goes back to the scene in Lincoln, the movie about the executive order of the Emancipation Proclamation that freed the slaves in the areas of conflict. And he said it was an executive order. It goes away. But he says, I gave the country two years to think about it in the country rendered their verdict in the election of 1864, of which Lincoln ran against his general in chief during the early years of the war, General McClellan, and Lincoln was basically returned and what was tantamount to a landslide, and particularly with the troops in the field coming in and voting to push him way over the top. Same thing with Trump. They put democracy on. They put everything they've done, they put the American Gestapo on. They put it on the ballot. Hey. And you lost. Elections have consequences, and you're going to have to bear the burden of the consequences and the accountability. November 5th was judgment day. 20th January is accountability day. And they're squirming around. You don't think this shows in their mind, living rent free when they're talking about Something that's so radically like bizarrely potentially unconscious constitutional as blanket preemptive pardons. Do you think their concern about they might have done a couple of three things wrong, broken a couple of three laws that their text messages and the meeting notes and you know, particularly when people start rolling on them because people don't want to spend millions of dollars. The pressure they put on people today, what they've done is outrageous. They tried to take down the American republic. They tried to turn it into. They're copying the model of the Chinese Communist Party. We didn't change the Chinese Communists. They changed our elites. It was supposed to be liberal democracy. As they became wealthier and wealthy as the middle class, as they moved people from the peasants to the working class, the middle class, they're supposed to change. Guess what? They didn't. They changed our elites. Our elites, like state capitalism, merged with the administrative state. That's the inextricably linked state capitalist economy we have today of late stage capitalism. That's what has to be broken. And this is why Trump's a blunt force instrument and he's leaving a blunt force trauma. But you have to every day hit this. If they see weakness, if they smell weakness or they see fear, it's not going to happen. This is why Pete Hexith and there's all kind of conflicting. I'm going to play a clip a little bit later. All kind of conflicting. President Trump isn't back of Pete Hegseth. The marching orders are that Pete Hegseth is going to be the Secretary of Defense. And some of the meetings are getting better. And it's down to a handful of guys, men and women. And President Trump has not even started whipping. The war room posse hasn't even gotten totally engaged on this yet. Same with Cash Patel. They're doing Alinsky 101. It's call the next. Next man up from the herd. We can't allow that happen. I keep telling people, flood the zone. It should be Pete Hexes everybody up there. Get them all up there. Get these senators, you know, seeing one after the other. Understand they're part of a team. Flood the zone. Don't. Don't do onesies. Twosies. Flood the zone and get up the confirmation. Get everybody ready and let's swear them in on the third. Get them up there on the fourth or fifth and get. Not just the national security guys. Get, get all the top guys up there. Get Bobby Kennedy up there. Get them all up. Let's roll. One of the things I see coming together, you're Starting to see the snippet, the sniping. Right now. Ro Kahana has come out on some very positives. Ro Kahana. And you know, people know that. I think I don't agree with this politics 100% by a lot, but he gets economic nationalism. He calls it economic patriotism. He's been, he's been singing out this part of the hymn book for a long time. He's taken basically Peter Navarro and our economic nationalism, President Trump's economic nationalism. He's trying to put a veneer of the Democratic Party on it because he understands this is the way you build coalitions and win elections. He gets that. Oh, by the way, Rokahana happens to be running for president in 2028. He's unofficially announced by every move he makes. Roque Kahana, as they put out tweet, he's 100% on board. Doge. So. And Doge is getting a little bit like the cool kids table in high school, right? You got Russ Vote, you're going to have Mark Pauletta. I think you're going to have Jeff Clark. Bill McGinley is now segued from the White House counsel to do Doge full time because President Trump wants to make sure his part of this is taken care of by his smartest guy. So you got Vote and Paoletta, Clark, McGinley and others, and you got Vivek and you have Elon. But more important to those guys, because those guys obviously have to fly at 60,000ft, but you've got another tier of people they're bringing in. They're absolutely brilliant. And President Trump said last night to the remarks of Russ Votes at Russ Votes event at Mar A Lago. It was, quite frankly, I thought, stunning of what he said, not just his support for Doge Appropriations and OMB kind of coming together and starting to take apart the administrative state and particularly the cost of it, which can only be done programmatically. Can only be done. You know, this is not firing people and looking for the grasshopper. You know, the grasshopper research that's being done at the University of Colorado. That's not the way you do it. You do it programmatically in big chunks. And you take out billets, not people. You take out billets. But you can see right now there's an effort building back of this that has motive. As Bartley over at the Wall Street Journal, the legendary Robert Bartley, the legendary editor says, when you launch something, you have to have muzzle velocity. You have to have boom. You have to hit it and hit it hard. You're starting to see that muzzle velocity. Philip Patrick, before I talk about overall capital markets and what's happening with China and other people, just the seriousness that you're seeing of the Trump administration, the Trump second term, and looking at how you get to the cost side of the equation on the federal government by either deconstruction, administrative state and or other waste, fraud, abuse or just inefficiencies, redundancies to kind of hit this in both methods. It's to me, it's very refreshing. Your thoughts?

[Philip Patrick]

It's very refreshing, to say the least. I've been coming onto the show for years talking about major problems that the current administration was ignoring. We haven't even got Trump in office and immediately he's prioritizing these things. So it's exciting, to say the least. People have to understand that Trump's policies are disruptive by design. And quite frankly, they have to be. Because when the status quo is broken, you have to change it. Now, change is scary. It's exhilarating and uncertain, but it is necessary and we need to shift things in a big, big way. And the team he's assembling appears to be the right team to do it. So I'm getting very excited, as I know you are as well, Steve.

[Steve Bannon]

Tom, one of the things they're bringing up now is about the as they're going through this, they're saying, oh gosh, this is going to have such big cuts and you know, you're going to do the mass deportations in the deconstructing Ministry of state is going to be very turbulent and you're going to lose a big part of the economy as you mass deport 10 million folks here that have driven down wages for unskilled workers and also have spend every penny they get back into the kind of consumer economy. And they're making the analogy to Liz Truss and what she tried to do. President Trump's obviously come with his own tax cuts. Liz Truss and what she tried to do. And they're saying the bond vigilantes, the bond vigilantes are going to be here and they're actually going to be the major line of resistance. Give me a minute or so on that. We're going to go to break. I'm going to keep you around. I want to drill down on this more. But is your fear right now the bond market and what happened to Liz Truss when she was turfed out? I don't know. After 90 days, does that have any analogy at all to what President Trump's trying to do?

[Philip Patrick]

No, absolutely not. And like I said before, one thing's very clear. The system we've had in place, the way we've been doing things for a long time, is broken. And at some point you have to break things down and restart. And that's what this administration is looking to do. We have issues all across the economy, but it starts with spending and it starts with inefficiency. And that appears to be the priority for the administration. And it has to be. We have to start addressing massive deficit spending and we have to start spending in a more productive manner and growing our gdp. At the end of the day, we're losing opposition slowly on the global stage. And I think Trump has vowed to sort of reinstate that. It's important we do it immediately. And we need an about turn. And this administration, the team he's assembling, are doing what's necessary to achieve that. So like I said, I'm very excited. I see no parallels to Liz Truss Trump is the opposite of a letter. So he's exactly what we need.

[Steve Bannon]

Philip, can you hang on for a second? I appreciate you this early in the morning out there. Coming on, we're going to take a short commercial break. Birchgold.com Bannon the end of the dollar empire we're going to have a big announcement on the other side about this series. And I'm really honored in working with Birchgold. The response we've gotten, you know, Vanity Fair kind of gave it a rave in the in their article they wrote about the War Room. Rachel Maddow's producers got so upset about that, they kind of misinterpreted, oh, they're banning this next project is destroying the US Dollar. No, ma'am, that would be incorrect if you and your producers actually read it. I realize, you know, it's not your line of country. I understand that, but we've made it accessible to everybody, even you folks. We're saying that the oligarchs on Wall street and the political class are trying to destroy the US Dollar. We're here to say, hey, maybe we should save it. Maybe being the prime reserve currency is a good thing. Although that ought to be debated, ought to be part of the national debate, eventually. Birchgold.com Bannon or take your phone and text Bannon989898 Philip Patrick, we're going to talk about global capital markets and a thing, an idea called modern monetary theory next in the War Room. 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 banner to 989-898. 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 five thousand dollars purchased. Protect your savings with Birch Gold. Text Bannon to 989-898 and claim your eligibility for your free silver today.

[Cash Patel]

Here's your host, Stephen K. Bannon.

[Steve Bannon]

Okay, a couple things. As you know, yesterday, right there, the French government collapses with a vote of no confidence. Can I get that? Thank you very much. There you are right there in the. In the Wall Street Journal here in the New York Times. Made the front page. French far right. And here's the lesson, boys and girls. French far right and left unite in vote to oust the prime minister. Now, why we see that right there, Times in the Journal, a lot of other financial times, et cetera. Why is this important? Okay, we're always trying to think downrange here in the war room, aren't we? We give you tomorrow's news today. So here's why it's important. France is a. Just like Liz Truss. These are all small examples of the big problem that we've got here. What's the big problem we got here, folks? It's a totally unsustainable financial and business model. We're adding essentially $1 trillion of new debt every day because we're just burning. We still have this massive spending we're doing that has not been reeled in. And tax revenues are not growing at any kind of appreciable rate, number one, because the economy is not really growing, as Philip Patrick has told you on the show many, many times, and Scott Besson and E.J. antoni and Dr. Peter Navarro and Russ Vogt and so many people that are all Going to go into the. Or. Almost all of them are going to go into. I got to keep. Philip may lose him, too, but I got to keep. I got to keep one or two of the smart guys in finance. Can't lose them all. But right there, I think we named four or five that are going in. Why are they going in? Because of exactly what they've talked about with you over the last couple of years. Because it's kind of phony growth, the growth we've had. Because it's just more. It's a Keynesian continual hike. John Maynard Keynes came up with this thing, idea of stimulus during its softness in kind of industrial economies. Well, we haven't had. After we took care of the aggregate demand drop during the pandemic, we told you you had to bridge that. President Trump did that. President Trump did that in the spring and summer of 2020. Bridge that drop in aggregate demand, as we told you. And you had to bridge that to get to the other side. Given that we shut the country down for the pandemic. If you did that again, like the Inflation Reduction act, ironically titled it, you're just going to drive inflation. Larry Summer told you that. Steve Bannon told you that. And guess what? We were right and everybody else virtually was wrong. This inflation gets embedded. Then you have this massive federal spending if tax revenues don't keep up, and you have these huge gaps. So you have these trillion, trillion, half dollar deficits. This is why McCarthy got tossed. He gave them, you know, he gave them a couple of years, unlimited debt to spend, right? With the debt deal, which, by the way, comes back, comes back as we can use that as a, as a, as a leverage in early January. And so now we're adding a trillion dollars every hundred days. The model's not sustainable. If you ever run a business and say, hey, you know, my cost, weigh out my revenue, unless you got a sugar daddy like the Federal Reserve, they can just keep printing fiat currency. You can't keep it up. And this gets back to being the prime reserve currency. We can do it because we are the prime reserve currency. And in that regard, President Trump, the BRICs actually have a legitimate gripe, right? A legitimate gripe. And so it's incumbent upon us, and President Trump knows this and Bessett knows it, to get our own financial house in order. And that's what's going to occur. Now. Liz Truss tried it, kind of going back to Ronald Reagan, which you just can't do. And even Bessette and Trump understand it just can't be A pure supply side, because you've got to somehow figure out how to kind of bridge this too. Because when you do the tax cuts, it does take a while, it does take a while for the growth and the revenue to kind of kick back in. And so, and we're big believers in these populist tax cuts of the tax cuts on Social Security, the tax cuts on tips, the tax cuts on wages and a whole lot more. The interest free for the car cars a whole lot more populist. But in France, what happened is they run basically a deficit of over 6% of GDP. And since they ain't the franc, ain't the, or the euro is not the prime reserve currency, they can't, they can't bridge this. They have to cut. And it came down in their parliament of whose ox is going to get gored. Is it going to be working class people with kind of benefits and things in medical, or is it going to be their international, you know, still the remnants of the French empire in Sub Saharan Africa and North Africa, the Middle east, and particularly sending money to Brussels to kind of pay for the EU project, which was really a Franco German project. So. PHILIP Patrick A government fell. Liz Truss fell, right. Quite frankly. Keir Starmer Right now They've had over 3 million people sign this petition. They won a new election. Now it doesn't in the uk you don't have to have it, but they got it debated in Commons. They've already turned on him because those guys are less prepared than Liz Truss to manage this thing. You had Richie Sunak from Goldman Sachs, he was terrible, he got it upside down. Le Pen has thrown down hard and said, hey, and this is what's going to happen here in the United States. Somehow Scott Besson's plan is the three three threes, that 3%. The number one thing is to get the percentage of GDP on the deficits down from over 6, which is like wartime, like World War II level, down to 3%. Philip Patrick the reason they got in this was this concept called modern monetary theory and it emanated like the French Revolution from the country of France. So it's quite interesting, sir, and ironic that the French government that kind of supported the very folks that supported, I think piketty, the economists that came up with the book Capital, which is a must read here in the Worm, A little dense, but brother, isn't ironic that it's in his native country that this idea emanated from that actually ended up destroying the part of the government, Macron and these guys that he so believed.

[Philip Patrick]

In it absolutely is. And it should serve as a warning to us here in the United States. For those who don't know, modern monetary theory posits that governments who control their own currencies can finance their debt by creating money and that these nations are not constrained by traditional borrowing limits. In other words, the idea is that debt doesn't matter. And I think France's situation shows the limitations of this approach very clearly. Their reliance on global investors to finance its debt made it vulnerable to market reactions, as evidenced by the recent bond sell off. Excessive deficit spending, even under MMT principles can erode investor confidence, as we've seen, and lead to higher borrowing costs, cost and create more financial instability. I think it's a warning of the risks associated with unrestrained fiscal policies. And that's why I think the priority for us here in the United States needs to be to get spending under control. Even if our political leaders don't think that debt matters, investors do. Governments can pretend that it doesn't. But they forget that governments don't control capital. At the end of the day, entrepreneurs, innovators and investors, they control the flow of capital and they're speaking in France right now. We need to act here in the United States before we find ourselves in a similar position.

[Steve Bannon]

This is why I love being in business with the guys at Birch Gold because they've come and said, hey, as a primer and you got to get the end of the dollar empire, all the installments are amazing, get you up to speed but as a primer for the massive debates that we're going to have and you're going to participate in and be an active part of use your agency in January and then after President Trump comes in January 20, but starting the day that the debt ceiling we hit again, we're going to do a. We're doing a one hopefully before the holidays. We're playing it. We're beaver away right now. Spend tons of hours on research is about modern monetary theory. The idea that destroy has come close to destroying not just America, but the world economy. This is a very dangerous idea. It went unvetted and by the way, the lords of easy money jumped all over this. Philip, you're working away. I'm working away with you and your research team. I think this one's going to be a blockbuster. We hope to have it out right before the Christmas break so everybody can take it. You're going to have a homework assignment. I'm going to play 20 questions on this because I love this series but I want to know people now, I think more than ever. And I'm not saying go out and buy gold. Here's what I'm telling you to do. Go talk to sophisticated people like the folks at Birchgold. Totally free. Get access. They have tons of free information. They want you to be smart. What they want, they know a smart customer and client is a repeat client. So Philip, where do people go? Because now more than ever I tell this is I'm saying, hey, we've given you access to these folks. Take advantage of the access. Where do people go?

[Philip Patrick]

Very simple. Birchgold.com Bannon Again Birchgold.com Bannon that'll get them access to free information as well as end of the Dollar Empire series. And they can get me at Philip Patrick on getter.

[Steve Bannon]

PHILIP in the turbulence we're going to go through because there's so many things that are coming together, we're trying to right now work it all out so we can actually give you a critical path. The global capital markets are going to have a lot to say in this. I mean, we're the whole world's I think there's 300 trillion of debt. If you add up everything add up everything in the world kind of comes with 300 trillion debt is what I think guys have said on the back of envelope rough. And I keep saying the worst thing could happen to us now right now is to have a, have a global margin call. But that is really the risk of the turbulence. Give me a minute on that before we go to break your thoughts.

[Philip Patrick]

It is the risk and this is what we've talked about. Trump's job right now is to grow the economy. And the gamble that we have here is that GDP growth outpaces debt growth. But it is a tough gamble. Debt is growing at a rapid pace and has been since the 1970s. So it's a tough task. And I think shorter term, what we have to expect is economic turmoil. Trump's policies are extreme. We need extreme policies. We need to address trade deficits. But that's going to involve shaking up the economy. Shorter term, I've said it before and I'll say it again, shorter term pain for longer term gain. Precious metals specifically, I think will be a very useful vehicle in weathering that storm.

[Steve Bannon]

It's a hedge for, I don't know, 5,000, 10,000 years of man's recorded history. Pick the date a long time. Philip Patrick Love you, brother. Social media where they get you, man?

[Philip Patrick]

At Philip Patrick on getter. At Philip Patrick on getter.

[Steve Bannon]

Philip Patrick Honored to Have you on here, sir. Thank Birchgold ended the dollar empire. We're doing this so you can get up to speed on over the holidays. You're taking a couple three days off. We're not here in the war room. We can't. The reason we can't is that we're trying to seize the institutions. Remember every day here we're burning daylight until the 20th of January and the in the vanguard of the cadres and the popular posse need to be here too. Tough times, hard times. Right now we're taking short commercial break. We're going to have a partners discussion. We get back of where we are and where I think we need to go. All next in the war room. When the doctors at Brick House Nutrition announce a Black Friday sale, it's a big event. Now is the time to save a bundle while you reboot and optimize your health. This is the biggest sale of the year on everything. That includes Field of Greens, the life changing superfruit and vegetable drink that promises your doctor will notice your improved health or your money back. The Black Friday sale also includes Lean the physician formulated weight loss phenomenon that helps turn and burn excess fat into energy. Even Radiance, the collagen accelerator with four times more health and anti aging power then that influencer collagen. Yay. That's on sale too. From weight loss to sleep aids, from creatine to whole food bars, they're all on sale. Visit Field of Greens.com and use code sale that's promo code [e-mail] and do not forget that's promo code [e-mail] was another Republican who is today, you know, typically is a very fair supporter of Trump's obviously in the Senate. But he said he, he was not sure about Trump's plan forward. Listen to what he had to say. I was supposed to sit down with.

[Cash Patel]

Him tomorrow but they've canceled that meeting.

[Steve Bannon]

So I don't know where things stand at the moment. Do you think he's going to withdraw?

[Cash Patel]

I don't know.

[Steve Bannon]

But listen, I just, the president, they get a lot, the president, a lot of deference here. I've said I'll support folks, my presumption.

[Cash Patel]

Is I'll support whoever he wants and.

[Steve Bannon]

Thinks it's going to be great for his cabinet. I'm not, it's not 100% clear to.

[Cash Patel]

Me who he wants. The secretary of defense right now.

[Steve Bannon]

That sounded notable given, you know, we've heard from some of these senators saying let him have his confirmation hearing let's see, let's see what he has to say to Hawley saying today, I don't know who Trump wants to be Defense secretary. Right. And that's my point from before Caitlin, that, you know, if Trump is very actively discussing other options, and I know this from multiple sources, I'm sure you do too. Ron DeSantis is one of them. Other people would like to see Mike Waltz. It would still be sort of mind boggling if Ron DeSantis does get chosen and Trump does pull the rug out from under Hegseth. Because you will just hear a replay of all of These things that DeSantis said about Trump in their primary, including about Trump's first indictment in Manhattan and the trial related to a hush money payment to a porn star. Putting all of that aside, Trump is sending signals to these senators again, you know, I'm not really committed on this until he starts really working the phones on this himself. It sort of leaves Hegseth dangling there. Okay. As a partners of discussion. The mandate President Trump got in the verdict that the American people came into was they want fundamental change. So many of the people that are now part of our coalition, independents and Democrats, were some of the people that voted for Barack Obama. Once again, this is still, we're still dealing with the after effects of the financial collapse of the financial markets in 2008. They haven't, they weren't properly recomposed and the people that caused it were not held accountable. Just not Danbury Prison. There's a couple of white collar guys there. They can't go to camps because their sentences are too long. Some people got 40 years, some people got 25 years, 30 years for what I would say was essentially marginalia compared to what the criminals that brought about and profited from those years leading up to 2008 and then ran for the hills. Right. And had no accountability. Why? They're the lords of easy money. The sociopathic overlords start with their backup as the lords of easy money. It's about money and power. You know, this, this is why you watch the show. We don't. There's so many stories that we just don't chase. One, we don't do them as well as other people. They do it great. And number two, we just don't think they're all that important at the end of the day. We just don't. This is the main event. This is the thing itself. Or as Captain Fennell always tells me, keep the main thing. The main thing now that regard, it's the Chinese Communist Party and how it's the centerpiece of this global economy that's upside down. But when you get down into the practical, into the trenches, and the reason the show is so powerful is that you people are the people, not just man the trenches. You're those folks that are not worried about going over the top and going into the fire. That's a huge. Everybody talks a big game until it comes down to it. Everybody says, I'm going to do this. I would do that. If I was at Lexington and Concord, I'd be there at the Lexington Common Green. I'd be there at the stone bridge where Emerson wrote the poem about. I'd be there. I'd be at Bunker Hill, right? I'd be at Valley Forge. I'd be after Valley Forge and those two winners in Morristown that were even worse than Valley. For Forge, I'd be at Yorktown, Kings Mountain, all of it. I'd be there all of it. In Brooklyn when they're getting runoff, right? The American Dunkirk. Oh, I'd be there. I'd be there. Very few were there. Just thinking the Civil War. Very few. Very few are ever at the point of contact. What makes you so special and unique is that you want to be at the point of contact. You're like those great athletes. You remember kids growing up, men or women, that they wanted the ball when the game was on the line. Not for ego, but for some deeper, deeper, deeper point of just their being. They wanted the ball because they knew that they could do something to win. That's a God given talent. You can't coach that. You got that or you don't. What's amazing about this audience I keep talking about agency is that you folks have it. It's pretty unique. And you got to remember, we're not a show like Joe Rogan getting, you know, 9 million bros every day. And I love those things. Those things are great and they're fantastic. What these guys do and how they give access. Your palate's different. You've moved up the learning curve. We kind of gone through 101 and, you know, and 201. And now we're in the third or fourth year and you're getting ready for graduate school. You saw this the other day when President Trump put out that tweet or the True social on brics, I had very. What exactly, again, is a brick. You don't need to tell the War on Policy that they understand it. They understand the inextricably linked nature of the US Dollar being the prime reserve of Currency, how important it is and how, quite frankly, it comes with all types of kind of empire maintaining things that one has to do that maybe we don't want to do, and we should have a national discussion on that. But hey, baby, if all of a sudden you're not the prime reserve currency, now, you got big problems, right? You got big problems. But it gets back to human agency and it gets back to why. What are we here for? We're not here just to have a standard stock Republican, neoliberal, neocon administration. That's not what the American people voted for. They didn't vote for that, for Obama. And why was Obama's popularity not as strong as when he left? Because he didn't make the changes to the American people. And the American people don't actually fully know what those changes are because they're kept in the dark about what the real problems are. And that's why cable news chases shiny toys. We don't chase shiny toys here. You know, it gets back. It gets back to some basic central things. The sovereignty of our nation and the sovereignty of our nation against an internal apparatus called the administrative deep state that thinks it has created a kind of a permanent empire and we just all have to be there and kind of support it, no matter what it wants to do. And it. It's made its global partners in the idea of the globe, more importantly, more important than this nation. The sovereignty of this nation and the paramount. The paramount status of her citizens. As our movement matures, we're going into phase two. And phase two, yes, Make America great again. The driving force of this President Trump's talk last night was so powerful when he talked about what type of people in this Biden regime would open up the floodgates and allow, I don't know, 10 to 15 million people into our beloved country. Unvetted. Who would do that? To hear the anguish in his voice and how that seared his soul, you start to understand why, being the American cincinnatus, to have come back at the time for Mar A Lago to go on the campaign trail and to do this all over again, you understand his deep and abiding love of this republic, his deep and abiding love of this country, for all his imperfections. He's got imperfections. He's not perfect, as none of us are perfect or even close to being perfect, but he is an instrument of divine providence of that there is so much factual basis from the 16 campaign all the way to the 11,000th millimeter of turning his head and not having his head blown off on global TV or being impaired for the rest of his life. He's providential and even providential. And brother Glenn Beck, I think finally got this yesterday that it was providential that we had 20, as I've said for years, that we had 20, 20 stolen. It's providential. I went to prison. You don't ever hear me whining about prison. No, I was meant to go to prison, I had to go to prison. Just in the dynamics, in the dialectic, the dialectics of this movement of thesis, antithesis, synthesis, right? If you're not prepared to go to prison, I tell people this, you're not prepared to go to prison, you're in the wrong line of work. And now we see on the other side, they ain't prepared to go to prison. They're scrambling, getting passports, leaving the country, whining, throwing the toys at the pram, crying every night, trying to do preemptive pardons, right? For actions that they have done to try to destroy this country. To try to destroy this country. No accountability days coming. But to get there, this interregnum is so, so, so important. And we have to always be at flood tide. This is why I say flood the zone. Activity, activity. Urgency. Activity. Urgency. Presidency. Put them on their back foot. Would they still have the huge power of the media, the huge power still of Wall Street? The established order is just because you win an election, they're just not going to sit there and go, oh, this is terrific. The guys in bib overhauls, the women with the crazy hats, right? The anti vaxxers, the election deniers, all these, all these marginal people, right? What did they say? They can smell the Walmart. What did they say in the text messages between the fbad, the beloved, honored FBI? They can smell the Walmart on you. In their text message. They can smell the Walmart on you. And you know why? You're deplorable. And Biden said out loud, you're garbage. That's what they think, you're garbage. You've done so many great things and have with President Trump and having his back and putting him on your shoulders as our leader have saved this republic. But now it gets down to the nitty, gritty, nasty, just unpleasant reality of how you have to take on and confront the established order. And with these folks, you're not going to reason it away. They're not looking for a rational argument. They kind of know what should be done. They're not going to do that. They know what's in their Own interest. And their own interest is they're going to keep control of this apparatus. And screw you. Trump's got. He's already. Lame duck, according to them. They think he's a lame duck. Trump will lose interest. Trump will lose energy. He's 78 years old. He'll want to go play golf. And so we'll pick him off. We'll pick off these fire breathers one at a time. Alinsky 101. Pick them off one at a time. Gates. Gates. Let's cull him from the herd. Make a big deal about this stuff, stuff he was never charged with, stuff that I think fully just put it all out there. It was a news story for two days and then let's get on with it. It's not what happened. Gates is gone. At least his attorney general may turn back up as a special counsel, special prosecutor. Never know. Remember, folks on the other side, there are more tears shed for answered prayers than for unanswered. So watch what you pray for. The law of unintended consequences. Now we're in the second one. Pete Hexes. Pete Hex is a good man. Pete Hexes will make some changes. Pete Hex comes from the generation that saw combat, that actually got things done. Remember, that was the greatest generation. The greatest generation were not General Marshall and the people that kind of led the war, General Patton. It was GI Joe, it was Rosie the Riveter. That's what it was. It was kind of those folks that actually got on with it, that hit the beaches and by the way, Sharon Stone, they hit the beaches at Normandy with no passports. They didn't need a passport to get into France. You know what got them into France? Their courage, ma'am. Their courage. Their undaunted courage. Just like this audience. So we have another fight now. Partners in this fight. We have to engage in this. Pete Hegseth. If President Trump wants him, and every indication I hear from everybody is President Trump wants him as Secretary of Defense, then he will be the Secretary of Defense. We'll have to power through this. The same with Cash Patel, the same with Tulsi Gabbard, the same with Kristi Noem, and the same with Bobby Kennedy. Because they're coming for all of them and more. But they want to take that out. They want to cripple President Trump. They want to just. They want this to be a standard stock. Bush 2.0, where he ain't going to be Bush 2.0. You know why Donald Trump ain't Bush. Donald Trump is at the level of General Washington. And President Lincoln. This is the age of Trump, and I know that hurts the feelings of the morning making a crowd, but this is the age of Trump. Short commercial break Back in a moment. I've been telling you about cyber scammers who tried to steal Graceland. The FBI calls this house stealing and it's a real threat. If you own a home or any real estate, pay close attention. When was the last time you checked the title to your home? With an average of 90% of your net worth in your home, criminals are targeting homeowners like never before. They can transfer your home title, take out loans in your name and leave you with a financial nightmare. Act now to protect your home's equity with triple lock protection from home title lock. Go to hometitlelock.com, enter your address and find out if your title is still in your own name. Use promo code Bannon to get a complete title scan. 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[Cash Patel]

Here's your host, Stephen K. Bannon.

[Steve Bannon]

It's all like that. I can't hear any of them. Okay, welcome back. Back. We got a little technical problem, so bear with me, folks. Pete Hegseth has put up and we'll try to get it up here momentarily. But Pete Hegseth just tweeted out and I think Pete Hegset is throwing down hard as Pete should. And this is a very moving tweet. If we can get it up. Denver, I know you just got it, but it's got a picture of some men in combat honoring one of their dead with how they do their rifles and the helmets. Very moving. Here's what it says. Maybe it's time for a secretary of defense who has led in combat, been on patrol for days, pulled a trigger, heard bullets whiz by, called in close air support, led medevacs, dodged IEDs, and understands to his core the power of this photo because he's been on that knee before. These are people taking a bended knee. If we can show that right there. Very powerful. Let's put it up if we got it. Yep, right there. Look at that. Pete Hegseth. Pete Hexis stoned down hard. We got Pete Hegseth back. Pete Hegseth is not perfect. Far from perfect. Maybe actually say May has a couple Three issues. That's okay. He'll work through those. He's working through those. But he's the Secretary of Defense we need, and the Secretary of Defense we need today. Taking on the Defense Department and Pete's going to be, with a great team around him is going to be a struggle. And we have to, I believe strongly, have to cut the defense budget. We're not smartly using economic warfare and we're not smartly using information warfare, and we're not smartly using cyber warfare enough. Remember the Chinese Communist Party as our adversary. And no, Mike Pence. Mike Pence gives some mindless thing to the Chinese Chamber of Commerce. You'll say, judas, Pence. And he's yammering on about, oh, they're a competitor and strategic competitor. We don't want to make them an enemy. No, sir. You got the intelligence briefings for all those years. Now, we didn't need the intelligence briefings to tell us that, but they certainly reinforced it. If you would remember anything in that kind of dim brain of yours, you would know that they're an enemy of the United States and an enemy of the people of the United States. And remember, as this movement matures, it's America first. But now next phase is American citizens first. And so everything we do in regards to the Chinese Communist Party, what is it in the interests of American citizens. We know they're hacking every phone company right now in some unbelievable way, right? They're just hacking it like crazy because they're trying to get your information. Because guess what? They believe in unrestricted warfare. They believe in. They believe in all of that, right? Whether it's economic warfare, political warfare, psychological warfare. And if they have to. And if they have to, they will get to. They will actually get to. They will get to kinetic warfare. Mike Lindell joins us. Like I said, I got a little technical problem. I don't know how clear I'm going to be here, Mike. And that hurts me because I usually go out right away afterwards and try to buy a Mypella. Mike Lindell. Sell me a pillow, brother.

[Cash Patel]

Well, if you guys can hear me, there's a lot of these. This is the last day for a lot of these sales. But we're for the war room policy. We're putting everything up today. We're doing the Black Friday, everything we put on there, and plus these other specials. But the one you've all responded to is our flagship premium Mypillow, the queen size 1898, king size 1998. The best Christmas gifts ever. Remember, we're putting the 60 day money back guarantee and all our stuff out because you can buy them for Christmas to March 1st of 2025. The factory is busy and they're loving this. And all the products we're going to keep running for you guys go to the website. You guys go to the MyPillow website. And you guys have for the war room posse. For our mattresses, the best mattresses in history, save 50%. Plus you're going to get another $100 off with that promo code.

[Steve Bannon]

War room.

[Cash Patel]

The flannel sheets, we just get those before they're gone. You guys have responded to that. Those are on sale and we're going to keep running those. And then you have the mattress topper, that one you guys have all got turned any bed into the best bet ever. 99.98 for the queen. 119.98 for the king, you guys. And there's free shipping options available on all the products. For the war room posse, you got the bathrobes. 59, 98, lowest price in history on those are going to be going off sale. Get those today. All the kitchen towels, we just got another shipment in. Those are the best gifts. There's nothing like those towels. So you guys get it today. Today's a big day for the war room posse. Get those specials. Use promo code War room. And Steve, that number, 800-873-1062. This is a big win. These are moms and dads that work from home. They want to hear from you guys. And this is a win, win, win. And you guys have supported us so much. And by the way, Steve, we're getting attacked again as we speak. This big new audit. They're trying to just attack myself and my killer before this administration leaves.

[Steve Bannon]

Brother, thank you so much. We'll give you a little air cover on that. How about that? Thank you, brother.

[Cash Patel]

Thanks, Steve. Yep. Thank you.

[Steve Bannon]

Okay. From St. John the Evangelist, the book of Revelations, via one of the greatest American artists in the history of our arts, Johnny Cash, Billy Strings, T Bone Burnett. When the man comes around, I want to put back up. If Denver could do this for me. Put back up the Pete Hegseth tweet. The battlefield cross. Hegseth represents a new generation, a new generation of leaders, a new generation that's not going to back down. They volunteered for that duty, all of them. Nobody's drafted there. They're all volunteers. And I know from a film I made that I showed to the Force Recon Marines of Tarawa and Peleliu they said, man, these young men and women are the bravest of the brave. And coming from the greatest generation's tip of the spear, that sends a lot would people. Pete Hexis says that he's been there with a couple, three battlefield crosses. Well, hey, guess what? You're in a new battlefield now, Pete, and we got your back. And anybody that doesn't support the president on this starts talking about all alternatives. You're not helping the program. They want us. They want to get defeat after defeat to take the momentum off President Trump. Remember that now we should be flooding the zone and seizing control of the institution. One that's going to be seized control of is the Federal Bureau of Investigation and that is going to be deconstructed. And I realize the criminals over there, the American Gestapo, doesn't like that. Guess what? Like Lincoln said about the Emancipation Proclamation, we put you on the ballot, folks, for two years and the American people rendered their verdict. They rendered their verdict. And Cash Patel and others are going to execute on that verdict. Tough break for some swell guys and gals all across the administrative in the deep state. Charlie Kirk is next. Jack Posobic follows that. We're back here five to seven live tonight as we are every night. See you then back in the world. Hear the trumpets, hear the pipers. I want to warn you of a huge change that could be coming to our money in our bank accounts. First, think back to 9 11, shortly after the government pushed through the Patriot Act. This gave the government power to spy on innocent Americans by monitoring our phone and email and tracking our movement across the Internet. Now Jim Rickards, editor of the Independent financial newsletter, Strategic Intelligence and New York Times bestselling author, is warning about a coming event that could elevate this governmental surveillance to a terrifying new level. In fact, some of the guests I've had on the War Room believe that the government will soon expand their powers to track our every move. If we say the wrong things on social media, donate to the wrong causes, buy firearms, or even vote maga, the government may be able to shut us out of our bank accounts. I can't say for sure if this will happen, but it's an interesting and dire warning. Fortunately, Jim Rickards, an American patriot and friend of mine, has made it his mission to educate us on what he believes is coming and how to protect yourself from the possibility of programmable money. Watch Jim's warning video now before it's censored like I've been in the past. Go to rickardswarroom.com that's rickardswarroom.com now to see the video will include things like preservatives, artificial ingredients and other additives that really aren't benefiting your health. So that's why we created Sacred Human, really trying to fill this gap of quality supplements and of course, the beef liver being our flagship products. For those who don't know, beef liver is loaded with highly bioavailable ingredients such as vitamin A, B12, zinc CoQ10, etc. And because it is 100% grass fed and natural, your body is able to absorb these nutrients far better than taking any other synthetic multivitamin or any other synthetic vitamin in general. 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