Episode 4225: Deepseek Sinks Nvidia

Summary

Episode Summary: Bannon's War Room - Episode 4225: Deepseek Sinks Nvidia

Release Date: January 28, 2025

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1. Introduction

In Episode 4225 of Bannon's War Room, host Stephen K. Bannon delves into the significant developments surrounding the artificial intelligence (AI) landscape, the financial repercussions faced by major tech companies like Nvidia, and the broader geopolitical tensions involving the Chinese Communist Party (CCP). The episode also touches upon internal U.S. political dynamics, particularly focusing on President Trump's strategies and the Republican conference's maneuvers.

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2. The Rise of Deepseek and Its Impact on Nvidia

The episode opens with a compelling discussion led by Elon Musk, who underscores the rapid advancement of Deepseek, an AI model posing substantial threats to established tech giants.

• Elon Musk ([00:00]):

  "This is a fundamentally huge moment and a sort of wake up call to America with just how quickly Deep Seek has developed. And it's a big threat and it's going to have to be met with a response."

Musk highlights the potential downfall of companies like OpenAI and Nvidia in the wake of Deepseek's emergence.

• Elon Musk ([00:48]):

  "If OpenAI had been a stock today, it would have been crushed way more than Nvidia was. I think they're the ones that have been affected the most."

The conversation points to the necessity for the U.S. to pivot towards open-source AI development and software optimization to counteract these threats effectively.

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3. Market Reactions and Nvidia's Decline

Andrew Ross Sorkin raises concerns about the possible misuse of Nvidia's high-performance chips by adversaries to develop advanced AI models like Deepseek.

• Andrew Ross Sorkin ([00:50]):

  "It's possible that they were using some of the highest performing Nvidia chips, perhaps as many as 50,000 of them to build this model now. And they weren't supposed to have those chips."

This misuse could explain the drastic decline in Nvidia's stock value, contributing to a $1.8 trillion loss in the American equity markets.

• Stephen K. Bannon ([03:01]):

  "They're not supposed to be any Nvidia chips over in China. It's restricted."

The episode emphasizes the gravity of the situation, portraying Nvidia's downfall as a critical indicator of broader market vulnerabilities influenced by technological misuse.

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4. Geopolitical Tensions and Cyber Warfare

Bannon expands the discussion to the CCP's strategies in unrestricted warfare, highlighting various domains such as cyber, information, political, and economic warfare aimed at undermining U.S. dominance.

• Stephen K. Bannon ([06:00]):

  "The Chinese Communist Party is at war with the United States of America. It's called unrestricted warfare."

He references historical contexts, such as the Gulf War, to illustrate the CCP's long-term strategies to destabilize and outmaneuver the U.S. through non-traditional warfare tactics.

The episode underscores the constant cyber attacks from the CCP, targeting critical infrastructure like telephone companies and the Treasury Department, exacerbating national security concerns.

• Stephen K. Bannon ([22:00]):

  "There are billions, billions [of cyber attacks] daily from the Chinese Communist Party, state actors and others who work with them."

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5. Internal Political Dynamics and Republican Strategies

The latter part of the episode shifts focus to internal U.S. politics, particularly the Republican Party's efforts to maintain cohesion and advance the "America First" agenda amidst challenges posed by CCP interference and legislative gridlocks.

Lee Wambsgan, Head of Communications at Patriot Mobile, discusses the turmoil within the Texas House of Representatives, where a faction of Republicans allied with Democrats to secure the Speaker position, undermining conservative leadership.

• Lee Wambsgan ([25:19]):

  "Representatives crossed over and voted for Burroughs. So Burroughs was elected the Republican speaker of the House by more Democrats than Republicans."

This internal conflict is portrayed as a betrayal by grassroots MAGA supporters, with Bannon expressing frustration over the open primaries that allow Democrats to influence Republican leadership.

• Stephen K. Bannon ([27:07]):

  "This is pure betrayal. How can that happen?"

Bannon and Wambsgan advocate for closed primaries to ensure that only Republican voters can influence party leadership, thereby safeguarding conservative policies and strategies against external manipulations.

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6. Conclusion and Forward Look

Stephen K. Bannon wraps up the episode by emphasizing the need for unified Republican efforts to counteract both external threats from the CCP and internal political disruptions. He highlights upcoming events, including President Trump's scheduled address to the Republican conference, which aims to realign the party's strategies and reinforce the "America First" agenda.

• Stephen K. Bannon ([30:38]):

  "This is outrageous given how strong the grassroots is in the great state of Texas."

The episode concludes with a call to action for listeners to support conservative initiatives and remain vigilant against both technological threats and political adversities.

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Notable Quotes

• Elon Musk ([00:00]):

  "This is a fundamentally huge moment and a sort of wake up call to America with just how quickly Deep Seek has developed."

• Andrew Ross Sorkin ([01:01]):

  "But I can tell you all the tests that I do just to see whether I think the writing is better, whether I think it can answer certain questions."

• Stephen K. Bannon ([03:01]):

  "They're not supposed to be any Nvidia chips over in China. It's restricted."

• Stephen K. Bannon ([22:00]):

  "There are billions, billions [of cyber attacks] daily from the Chinese Communist Party, state actors and others who work with them."

• Lee Wambsgan ([25:19]):

  "Representatives crossed over and voted for Burroughs. So Burroughs was elected the Republican speaker of the House by more Democrats than Republicans."

• Stephen K. Bannon ([27:07]):

  "This is pure betrayal. How can that happen?"

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This episode of Bannon's War Room provides a comprehensive analysis of the intersection between advanced AI developments, market implications, and geopolitical tensions, all while navigating the intricate landscape of U.S. internal politics. Bannon and his guests offer critical insights into the challenges facing America and the strategies required to safeguard its technological and political integrity.

Transcript

[Elon Musk]

I, you know, this is a fundamentally huge moment and a sort of a wake up call to America with, with just how quickly Deep Seek has developed. And it's a big threat and it's going to have to be met with a response. It's going to have, you know, there's a whole kind of rethink about how we've been going about developing these models. If OpenAI had been a stock today, it would have been crushed way more than Nvidia was. I think they're the ones that have been affected the most. We got to go open source, we've got to focus on software optimization and I think the Trump administration has to support that and they have to support other areas that could potentially leapfrog the Chinese and which are names like the quantum names. I like Rigetti the most, I own it. And the area called post quantum cryptography, which is the security to protect ourselves from quantum attacks.

[Stephen K. Bannon]

Okay.

[Elon Musk]

The name there like the most is btq.

[Andrew Ross Sorkin]

That it is possible that they were using some of the highest performing Nvidia chips, perhaps as many as 50,000 of them to build this model now. And they weren't supposed to have those chips.

[Stephen K. Bannon]

Right.

[Andrew Ross Sorkin]

If that, if that's, if that's true, not the size, the dynamic is different. If it's not true, then maybe all bets are off. It's possible, by the way, even if it is true, meaning even if they use those chips to create this, or at least partially to create this, it is still a significantly more efficient and better model. I think everybody agrees that right this moment, I mean, I don't know if. Did you get the point? It is mind blowing.

[Stephen K. Bannon]

It looks really great. I mean it feels like it's. That it's open source so people can.

[Lee Wambsgan]

Test this out themselves.

[Andrew Ross Sorkin]

But I can tell you all the tests that I do just to see whether I think, you ask whether I think the writing is better, whether I think it can answer certain questions. I mean, it was not only faster, it was more human. The reasoning was, is shocking. I mean, there were moments where I was like, oh my God, this, we are, we are so much. You could feel the step change as a person. It was, it. I will also say, as exciting as it was, there was an element where I became scared because I thought, oh, you know, I had the opportunity to talk to all these people last week and they all said the future's here and da, da, da, da. And then you sort of see it and you go, oh, okay. I feel you in a different sort of visceral way. So Yes, I think this is all happening at a level that I'm. When you, when you mark your sort of AI history, timeline in life, I think this week, this past week, today and everything else will be on it.

[Stephen K. Bannon]

This is the primal scream of a dying regime.

[Jim Rickards]

Pray for our enemies because we're going.

[Stephen K. Bannon]

Medieval on these people. I got a free shot. All these networks lying about the people. The people had a belly full of it. I know you don't like hearing that. I know you try to do everything in the world to stop that, but you're not going to stop it. It's going to happen. And where do people like that go to share the big line MAGA media I wish in my soul, I wish that any of these people had a conscience.

[Jim Rickards]

Ask yourself, what is my task and.

[Stephen K. Bannon]

What is my purpose? If that answer is to save my.

[Jim Rickards]

Country, this country will be saved.

[Stephen K. Bannon]

War ROOM here's your host, Stephen k. Ban Monday 27th January year of a Lord 2025. So critical path of the show tonight, President Trump actually had the time. I might have had the time correct earlier but I think it's gotten rescheduled. So President Trump now was supposed to speak at 5 at Doral to the Republican conference. He's running late. It's going to be at least 5:30, maybe later. Scott Bessant, Secretary treasury is going to his vote on the Senate floor is going to be at 5:30. We're going to follow that. Charlie Gasparino is reporting that Scott's being given a dual role at the consumer finance that fiasco. If that actually protected working class people, I would be for it. But I think it's just a mess to make restrict it ends up restricting lending to them getting access to capital. So he's going to oversee that at least temporarily. News flash also Pacific Palisades, the dumpster showed up and the authorities there have actually opened it back up for the residents to go in and start cleaning up the mess of what's left of their lives and their homes. Victory President Trump. That's Donald J. Trump out there on Friday to basically say hey Karen Bass and Newsom and these guys. The two seconds he spent with Newsom, you got to get, you got to stand out of the way of Americans getting back there and in setting things right, getting back and having some future and at least having a hope for a future massive develops the biggest one. $1.8 trillion wiped out and that's not a definitive loss. Could always come back, may come back but $1.8 trillion down on the combined American equity markets, including the video, the chip maker, down almost $600 billion. Think about that for a second. There are industries that don't have $600 billion of market cap or equity value. $600 billion, one stock, one day. And we're finding out as Andrew Ross Sorkin sitting there going, hey, there might have been 50,000 Nvidia chips into this. Nobody knows. Why is that a big deal, Mr. Bannon? Because they're not supposed to be any Nvidia chips over in China. It's restricted just a. To set the framework here at 6:00, we're gonna have some folks come in and talk big picture on this. If President Trump's finished, we'll have that. I've set the frame here. But number one, why did the intelligence services miss this? Once again, why did they miss this? And they say, Steve, how do you know they missed this? Well, I know they missed this. So they missed this. Otherwise you wouldn't have guys like Andreessen, these people out there. Others are shocked as they were the intelligence service. Another miss. Just saying, only pay, you know, hundreds of billions of dollars for it. John Radcliffe Venture, Pero's daily wires reporting right now that John Ratcliffe is actually meeting with people inside the CIA. And guess what's bubbling up? You know, it's bubbling up because yesterday they announced that the. The real report of the CIA is that the. The pandemic came from a lab leak in Wuhan. Where did I hear that before? Oh, yeah, that's right in the show. War room pandemic back in January 23rd of. Or January 15th or 16th, whatever date it was of 2020. That would be five years ago, a half a decade. People inside the CIA now are saying it's getting to Ratcliffe. I think they're working on a report that says, wait for it. That might have been deliberate, like a bioweapon that had done gain of function to power up. And then it was released by the Chinese Communist Party, the pla and the Chinese Communist Party. Once again, folks, as much as I know people don't want to deal with this. The Chinese Communist Party is at war with the United States of America. It's called unrestricted warfare. The textbook of that was written by two colonels who are kind of the information warfare guys that were assigned to look at the Gulf War, not the war in Iraq and Afghanistan. For you youngsters, we had a war before that. We had a war to quote unquote, saved Kuwait for democracy. Remember that? Remember all the phony Cheney Stuff they were putting out at that time that, you know, all the. There are all these Democrats in Kuwait and the Iraqis are going into the baby, into the hospitals and bandit and the babies. All lies to get us to fend the oil of Saudi Arabia. Hey, at the time, maybe you had to do it. We had a Gulf War. The Chinese looked at that and studied that because we won so quickly, so overwhelmingly, so easily, with a handful of casualties. I think 100 dead, massive victory, and could have gone all the way to Baghdad. But I think Bush made the decision at the time. He says, hey, look, my thing was to stop this, not to go take that, because then we're going to own it. Colin Powell and others talked him out of it. What they came up, this was the conclusion to the beginning of the book, which was their textbook unrestricted warfare. They said, foreign devils, that would be us foreign devils, really know how to pull up alongside, like Nelson, unsheath the guns and let it go, let it rip, and they will win. They're very good at that. They've perfected that. That's exactly how we don't want to fight them. So let's go sun tzu to the 10th power. In fact, we have to get in a shooting war. That by definition means we're losing or going to lose against the foreign devil. So here's what we do. We have to go all types of other warfare, cyber warfare, information warfare, political warfare, economic warfare, all of it to destroy and beat into submission foreign devils. They've been at this war for a while. In May of 2019, right before the pandemic, in May of 2019, when Lighthizer and Navarro had negotiated this amazing deal under President Trump to really seven verticals, to take all the problems with state capitalism, the entire economic model they have, which is destroying wages around the world and basically has gutted manufacturing around the world, we had all that solved. They had taken a year and a half to do this. We rejected the first thing that came to us in the summer of 2017. President Trump had the back of the hardest of the hard cores. Lighthizer Navarro, Stephen Miller, Stephen K. Bannon. He chucked the Jared and the Cohen and the accommodationist, and really Mnuchin and Cohen were the ones that were adamant. But we couldn't do this. We had to accommodate after they chucked the deal, because they looked at the deal and said, hey, if we signed this deal, we're kind of be the junior partner here for, like, ever, so we're not going to do that. And they declared a people's war in May of 2019. And since that, they've been all over us. Remember, we just had the biggest cyber attack in history on the telephone companies. They had a cyber attack on the Treasury Department. There are billions, billions. Let me repeat this. That's billions with a B, with a capital B. Billions of cyber attacks daily, daily from the Chinese Communist Party, state actors and others who work with them. This is why I keep telling you at home, title lock. Hey, you may have people that have fallen out with you internally that could get to your title, but trust me, they got state actors and non state actors that are an employee of state actors, actors. They're looking for every aspect to go after the American people because they know that as long as we're the hegemon, they're nowhere. And they're financed on Wall Street. They're everywhere. They're in every research university. Everywhere, everywhere, everywhere, everywhere. Chinese Communist Party. Remember when the kids come over, the young people come over here. Unless they're true dissidents and have left and I mean a hardcore anti ccp and you can vet that. All these people required by law to give information reports monthly to the CCP and to be and to be in the work of the ccp. So you had all these cyber attacks, you got economic warfare, you got all this. And President Trump's come up, he said, I don't know, maybe we're going to do 10% tariffs, maybe we're going to do 20%. He actually said one time a month, a couple, a couple of months ago, 60%. That's 6, 0. The Chinese Communist Party is barely hanging on with their economic model. I mean, they're going to power through this as they see it, but the people there, it's hard. Not the stuff you see on tv, but in the provinces, it's hard. And there's a lot of unrest by Lao Bajing. What happened on this, what happened here, I don't believe they would actually be so in your face to show you a Sputnik moment. They don't want foreign devils to wake up from their sleep. And they particularly don't want people like myself who are adamantly and sworn to assist Lao Baijing to take down these murderous demons, the Chinese Communist Party, to have any kind of advantage, to have anything say, look, look at. These guys are bad. They want to do everything as Deng showed them, keep your light hidden until you're dominant. What I think this was, and one of the most principled things is give a love tap to the United States Rattle the equity markets, rattle the bond market, Get a lot of pressure on President Trump that he can't just reorient his economic model to not put pressure on them. This is, this is a wake up call. We just lost $2 trillion in market cap. May make that up, may not make it up. The Wall Street's got a saying, don't catch a falling knife. The knife's falling right now. Nvidia has been the darling when you talk about the high stock market and all the stock run around the stock market so great. It's called the MAG7. They've really driven it. That's magnificent. Seven is the seven tech stocks have driven, I don't know, 90% of the value. I think the S and P is actually if you look at the industrial companies down, this was a wake up call Sputnik moment or Psyop combo platter, maybe. A lot of the young charges that I know are not that overwhelmed by what's happening. There's something here that doesn't make sense. And on another level, something makes total sense. I will say this now. We are playing with forces that could very quickly get away from the control of man. And you have nothing but bad hombres that are at the control levers. Now think about this for a second. The Chinese Communist Party, whether this is 100% accurate or if it took 50,000 Navidian, which you shouldn't have any because of the technology controls, they are making big progress and they're pumping money in here. This is made in China 20, 20, 25. Remember that? Looked at my calendar, it's 2025. They've been at this for at least a decade or longer, pumping mass amounts of money in this. As a President Trump didn't have enough worries. This is an American in crisis. But we're punching our way out of this daily with action, action, action. Short commercial break. We're going to the great state of Texas.

[Jim Rickards]

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 Birch Gold. 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 band into 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 for every $5,000 purchase. Protect your savings with Birch Gold. Text Bannon to 989-898 and claim your eligibility for your free silver today.

[Stephen K. Bannon]

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[Jim Rickards]

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[Stephen K. Bannon]

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[Jim Rickards]

You have nothing to lose except your debt. Go to donewithdebt.com that is done with debt.com do it today. Action. Action. Action. 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 Birch Gold. 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 banded 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 5,000 purchase. Protect your savings with Birch Gold. Text Bannon to 989-898 and claim your eligibility for your free silver today.

[Stephen K. Bannon]

Here's your host, Stephen K. Bannon. Okay, we're calling audibles. We got Lee Wambsgan. Wambsgan is going to join us in a moment about Texas. She knows more than anything down Patriot Mobile, but I want to go to Brian Glenn quickly to tee us up. Brian, the president now was supposed to speak. They changed it to five, but he's running late. Who is he talking to? Why is this important? Why should our audience have their have their number two pencils down to write down important stuff, sir?

[F]

There you go, Steve. Okay, this is that truck giraffe golf course here hotel. He is meeting with the GOP conference. This is the conference. Members, their spouses and kids were invited to this. Let me step aside real quickly. This is what is important is we take a look at know what this agenda looks like. Steve We've talked about this America first agenda and how Congress, even with the slim margin that we have, must all be together lockstep on a lot of issues fiscally on immigration across the board. You're taking a look at, we've got about. Well, I'm not sure if everyone is in attendance in this conference, Steve. They certainly should be. But we've got a lot of people here ready to listen to President Speaker Trump. He's scheduled to speak at 5:00, obviously a little late on that, but he's this is day one of three days here at Trump Doral. And they're going to be setting the stage, making sure everyone is on the same page. Steve, when it comes to getting this America first agenda done that President Trump has laid out for the American people.

[Stephen K. Bannon]

Steve People should know, Brian, that Doral is one of his favorite properties because he's got the famous or infamous blue Monster, the great golf course. And President Trump was there for having changed that. He took this thing was almost near bankruptcy, refurbished it. It's a fabulous resort and particularly great for business meetings. The key thing, Brian, is the is the big my big beautiful reconciliation or two bills. So we get, we get deportations and immigrants. We know that Homan is already hurting for cash. And we do know we're finding out from sources that some of the initial thing of getting the bad hombres out is costing a lot of money. And the administrative state is sitting there going, well, we don't have any cash. We can't give you any cash. Is President Trump going to make his pitch day for one big beautiful bill, or is it going to be for two? Is he going to take a vote? What's going to happen on that? Because that's the key to this meeting, sir.

[F]

It is. Steve, you're on point with that. He does want that big, beautiful bill. But at the end of the day, we just want his agenda to be able to be funded and that we can get this done. And I think that's going to be a really a strong point that he touches on today. Obviously, the no tax on tips just a couple days ago in Las Vegas touched upon that. There's still members behind me right now that are still refusing to kind of get on board with, with that type of very successful campaign promise of doing now, tax on tips, no tax on Social Security, no tax on overtime. But he's going to make that pitch today. Let's just hope, Steve, after Wednesday that we can go back into session next week and we can get things done because we do not have time to waste, as you know. We've got to get to work. It is, yeah. I mean, to your point, I love the work that Ben Brookholm is doing. He's, he's been embedded with Tom Holman on all of these raids. And Chicago, we're starting to see the sex offenders, people with multiple charges against them for murder. We're getting these people off the street regardless if they're a citizen or not. We none of us want those type of individuals on the American on our streets. So this is the time to let they got to get it done. And you know this and you've been hollering from the mountaintops that we've got, we've got control of the House, we've got control of the Senate. Obviously, we got President Trump. We've got to get this done. And so I would imagine if there was anybody that was on the fence on any one of these issues, either it's salt or any one of these other topics, he's going to obviously lay out his case today and through Wednesday.

[Stephen K. Bannon]

Okay, Ben, I mean, Brian, we're going to go live. As soon as the president takes the podium, we're going to go live. We're going to follow that commercial free until the end. And then we're going to bring Brian Glenn in for his analysis. So, Brian, you just hang tight and we're going to come right back to you, sir. Lee Wambsgan joins us from Patriot Mobile. She's chief, she's the head of the comms department and also works over at the pac. I went down to Denton, by the way. I want to thank the folks, maybe play some cuts from that tomorrow. Denton County Republican American here. Look at that eagle. Is that amazing? I was surprised. I didn't know I was getting war, but they gave me award and it's a beautiful award. So we're going to, we're going to put it here in the war room and figure out where to put it. And I want to thank the Denton county folks. It was absolutely spectacular. Huge, huge crowd. And folks were, they were jacked up. It was a great speech. But what's disturbing, with all the fights we got on Lee, we got these huge fights in Congress. You've got, you know, the Chinese Communist Party and undeclared warfare, you know, unrestricted warfare. We got 12 million, you know, illegal aliens we've got to send back home. Scott Bessant, they're about to have the vote with Scott Bessant. We're going to file that on the Senate floor to confirm him as the Secretary of Treasury. He's got a world of, he's in a world of hurt given everything he's got to do. And yet you have in Texas, and I would argue Texas is the railhead of MAGA. President Trump won by 14 points. I mean, what else? This is, this is a state that source and that group of demons put hundreds of millions of dollars, not hundreds of millions of dollars to turn Texas purple. And it was on the cusp, as you know, a couple of years ago, of flipping. Trump wins by 14, Ted Cruz wins by nine. And yet you have, I think, 32 Republicans that vote to basically accommodate and make Democrats leaders in the Texas House. Walk us through what's going on, ma'am.

[Lee Wambsgan]

So that 32 happened in December. So the Texas House has 150 members. And the Republican caucus rules and that Republican caucus meeting is held in December. Those rules require Republicans to support the Republican that gets the most votes for speaker during that Republican caucus vote. And that happened in December. And Representative Cook got the most votes and Representative Burroughs and his team left. And it was sort of civil war since then because Burroughs announced that he had the votes to get it. So with 150 members, you just have to get A simple majority. So it requires 76 votes to become the speaker of our House. And long story short, the first day of session, January 14th, the vote was 49 Democrats and 36 Republicans crossed over and voted for Burroughs. So Burroughs was elected the Republican speaker of the House by more Democrats than Republicans. So that's where we are. And now this week, we have new House rules. So one of the big battle cries was, no Democrat chairs. So Burroughs and his team rewrote the rules. And the new rules say, okay, all standing committee chairmen will be Republicans, but all vice chairs cannot be Republicans. Republicans cannot even be considered for vice chairs. They all have to be Democrats. And Democrats can still chair subcommittees, which can advance or halt legislation. As we found two years ago, our legislature meets every two years. And so we have some big things we need to take care of. One being not allowing China, Iran, North Korea and Russia to own Texas land that it currently owns.

[Stephen K. Bannon]

This is what I don't get. Your delegation is overwhelmingly Republican. You have two Republican senators, the leader, Abbott, and all these guys are Republic. President Trump won by 14 points. Lee, you remember this. A couple of years ago, I started Breitbart, Texas with the guys at Breitbart to make sure, because Texas, and this was in the Rio Grande Valley about immigration. But it was all because Texas was. It was on the cusp of becoming purple because source is putting hundreds of millions of dollars in to do it. They saw this as a big opportunity with the Hispanic population. Trump won by 14, Ted Cruz won by nine. Well, this is MAGA and the grassroots did it. And they beat back when Paxton was impeached. They beat that back. How can you be betrayed? This is pure betrayal. How can that happen?

[Lee Wambsgan]

You may recall, Steve, that we were very active in our former speakers, Ray State Phelan. And you might recall he only won by 366 votes. And we counted several thousand Democrats who crossed over and voted in that primary. You can't get really good conservative Republicans elected when Democrats come over en masse and invade your First Amendment right of association. In our Republican Party right of association, we have the right to have Republicans elect Republicans. So as long as. And we've asked the legislature for years to close our primaries. So far, they have chosen not to do so. There's a group of volunteers working very hard to try to make that happen sometime this year. But as long as our primaries are open, we're going to run into this. It's simply. It's really unconscionable. I need to explain to the speaker and his group that a vice chair is still a chair and a chairman of a subcommittee is still a chair. So this is very basic English 101 that I think that they think the citizens are fooled and no one is falling for it. They've put hundreds of thousands of dollars into this damage control campaign. Every Republican across the state is getting texts about these 36 Republicans that voted with the Democrats to elect their speaker and about taking VICT lap and it's not going so as well as they thought because I'll tell you, we've made progress. Ten years ago, a lot of Texans didn't even know we had a speaker of the House. Now Texans follow it very closely and the good news is we've made progress and we're going to keep forging ahead until we have a truly conservative of Texas House of Representatives.

[Stephen K. Bannon]

Lee, I know you guys are putting together an action plan. Where do people go to find out more information about you, about everything? Patriot Mobile is doing his pac. I'm coming back down at the end of February. But this is outrageous given how strong the grassroots is in the great state of Texas. So where do folks go for more information?

[Lee Wambsgan]

So to support our general efforts, the company supports these efforts. At patriotmobile.com, our customers support conservative activism. The best way to help us is to become a Patriot Mobile customer and put your money in the red economy. You can also go. That's patriotmobile.com you can also go to patriotmobileaction.com to follow the political action committee.

[Stephen K. Bannon]

Lee, thank you so much for all the work and for coming on today. And thanks to the folks down in Denton and I'll see you in a couple weeks in Tarrant County.

[Lee Wambsgan]

Thanks Steve. Looking forward to it.

[Stephen K. Bannon]

Thank you ma'am. The Patriot economy and Glenn Story and the team, these guys are the leaders of it and their values. Your values are their values. That's why I take a hard look at Patriot. But man, this event they put on Saturday night was wild. The Denton crowd and it was down at the airport because it was so big. It must have been a thousand people there.

[Jim Rickards]

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 best selling 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 rickards war room.com that's rickardswarroom.com now to see the video.

[G]

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[Jim Rickards]

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[Stephen K. Bannon]

Go there.

[Jim Rickards]

Do it today. Check it out.