Episode 4262: Taking Down The Corruption In NYC

Summary

Podcast Summary: Bannon's War Room - Episode 4262: Taking Down The Corruption In NYC

Release Date: February 12, 2025
Host: Stephen K. Bannon
Description: In this episode of Bannon's War Room, Stephen K. Bannon delves deep into the systemic corruption plaguing New York City, the ongoing constitutional battles faced by the Trump administration, and the broader implications for America's financial and political landscape. The discussion features insights from key figures such as Pam Bondi, Elon Musk, Cash Patel, and others, providing a comprehensive analysis of the challenges and strategies to overcome them.

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1. Introduction: The Existential Threat to Trump's Administration

[00:05] Pam Bondi:
Pam Bondi opens the discussion by highlighting the headline, "Trump Causes Constitutional Crisis," emphasizing the profound challenges President Trump faces within New York City. She identifies Letitia James, the Manhattan District Attorney backed by George Soros, as the primary antagonist orchestrating these legal battles against Trump and his allies.

"The existential threat to President Trump's administration... is the queen of lawfare, Letitia James."
— Pam Bondi [00:25]

[00:23] Stephen K. Bannon:
Bannon reiterates that the true threat to Trump's administration isn't coming from federal courts but is rooted in the legal machinations within New York City.

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2. Legal Warfare in New York City

[00:23 - 02:49] Pam Bondi & Elon Musk:
Bondi provides a detailed account of how Letitia James and her Soros-backed DA, Alvin Bragg, are leveraging their power to bring unfounded criminal charges against Trump and his associates. She asserts that the judiciary in NYC is skewed with left-wing biases, making it easier to prosecute Trump without substantial evidence.

"She can call a grand jury at any time. She can set up criminal charges on the most bogus efforts."
— Pam Bondi [01:14]

Elon Musk comments on the deteriorating regime, suggesting that those orchestrating these charges are resorting to "medieval" tactics to undermine Trump's leadership.

"This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people."
— Elon Musk [02:18]

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3. Federal Courts vs. Executive Power

[03:00 - 14:54] Stephen K. Bannon:
Bannon provides an in-depth analysis of the ongoing constitutional showdown, where Trump's administration is attempting to push back against federal court rulings that impede their strategies to curb government spending and dismantle the administrative state. He discusses the potential strategies Trump could employ, such as fighting contempt charges or complying to expedite appeals to higher courts.

"If the appropriations Committee... President Trump steps in to office and there's $300 billion unspent. He believes he has the authority... and that is a big constitutional question."
— Stephen K. Bannon [03:00]

Bannon further elaborates on the strategic importance of New York City as the financial hub of the world, underscoring how control over this city is pivotal for managing America's economic engine. He criticizes the Democratic Party's fragmented response and the media's ineffective opposition to Trump's initiatives.

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4. Political and Media Landscape

[14:54 - 28:25] Interactions and Advertisements Skipped

Note: This segment primarily contains advertisements and promotional content, which have been omitted from the summary as per instructions.

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5. Financial Stability and the Role of Gold

[27:06 - 37:39] Cash Patel:
Cash Patel, an expert from Birch Gold, discusses the alarming projections of a looming depression by 2030 due to unsustainable national debt and rising costs of living. He emphasizes the importance of investing in gold as a hedge against economic instability.

"Gold is the best way to do it when currency is involved."
— Cash Patel [35:19]

Bannon and Patel engage in a conversation about the interconnectivity of federal spending, currency devaluation, and the increasing demand for gold. They highlight how central banks globally are shifting towards gold to hedge against the declining value of the US dollar.

"Everything's connected. And like I said, there's a reason gold is setting records day on day on day today."
— Stephen K. Bannon [37:39]

Patel adds that central banks' consistent purchase of gold indicates a widespread lack of confidence in the long-term stability of the US dollar.

"As we have been saying this for a long time now, people thought we were crazy years ago. Now look at it. It is mainstream political thought."
— Cash Patel [38:43]

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6. Deficit Spending and National Debt

[31:52 - 36:29] Stephen K. Bannon & Cash Patel:
Bannon addresses the critical issue of the US government's escalating deficit and national debt, projecting a staggering $52 trillion by 2035. He warns of the historical precedence where nations surpassing their GDP with debt are unable to recover, leading to economic collapse.

"Every empire, every kingdom, every country... they've never come back."
— Stephen K. Bannon [36:29]

Patel concurs, stressing that unchecked deficit spending and excessive money printing are direct threats to economic stability, further fueling inflation and devaluing the currency.

"Nothing we've been doing without seeing significant effects. We've been saying this for a long time now."
— Cash Patel [38:43]

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7. Strategies for Economic Recovery

[36:29 - 37:39] Cash Patel:
Paired with Bannon's insights, Patel outlines strategic investments in precious metals as a safeguard against financial turmoil. He underscores the importance of diversification and the role of gold in preserving wealth amidst economic uncertainty.

"The direction of gold is certainly to the upside, and in the climate that you're describing, it is to the upside significantly."
— Cash Patel [36:29]

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8. Concluding Remarks and Future Outlook

[37:39 - 42:26] Stephen K. Bannon:
Bannon wraps up the discussion by reinforcing the urgency of addressing the corruption in NYC and the broader economic challenges. He calls for immediate action to counter the legal attacks from entrenched Democratic figures and emphasizes the importance of strategic financial planning to safeguard against impending economic crises.

"We need you at the Ramparts. We don't need you any more anxious than you already are."
— Stephen K. Bannon [42:26]

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Key Takeaways:

• Systemic Corruption in NYC: Letitia James and Alvin Bragg are employing legal tactics to undermine the Trump administration, presenting a significant threat from within New York City's judicial system.

• Constitutional Battles: The Trump administration is at a pivotal point, contesting federal court decisions to reshape government spending and dismantle the administrative state.

• Financial Instability: Projections indicate a severe economic downturn by 2030, with national debt reaching unsustainable levels, necessitating strategic financial safeguards.

• Investment in Precious Metals: Gold is highlighted as a critical investment to protect against currency devaluation and economic uncertainty, supported by global central bank trends.

• Urgent Call to Action: Immediate steps are required to counter legal challenges and implement financial strategies to ensure economic resilience.

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Notable Quotes:

• "The existential threat to President Trump's administration... is the queen of lawfare, Letitia James."
  — Pam Bondi [00:25]

• "This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people."
  — Elon Musk [02:18]

• "If the appropriations Committee... he believes he has the authority... and that is a big constitutional question."
  — Stephen K. Bannon [03:00]

• "Gold is the best way to do it when currency is involved."
  — Cash Patel [35:19]

• "Every empire, every kingdom, every country... they've never come back."
  — Stephen K. Bannon [36:29]

• "The direction of gold is certainly to the upside, and in the climate that you're describing, it is to the upside significantly."
  — Cash Patel [36:29]

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Conclusion:
Episode 4262 of Bannon's War Room provides a compelling exploration of the intertwined challenges facing the Trump administration, particularly focusing on the legal battles in New York City and the broader economic threats posed by mounting national debt and financial instability. Through expert analysis and candid discussions, the episode underscores the urgency of strategic action to combat corruption and safeguard America's economic future.

Transcript

[Stephen K. Bannon]

Okay.

[Pam Bondi]

See this headline right here? Trump Causes Constitutional Crisis. Trump causes Constitutional crisis. Showdown Emerges of the limits of his power. Let me be blunt, and this is a lesson here. The existential threat to President Trump's administration.

[Stephen K. Bannon]

Is not in federal court.

[Pam Bondi]

What President Trump is doing is constitutional. The appellate courts will say that. The Supreme Court will say that. The existential threat to President Trump's administration, and I mean Doge, Elon Musk, Secretary Treasury Besant, Russ Vogt, Stephen Miller, all of his people, the existential threat is right here in this city. It is the queen of lawfare. It's Letitia James. Right now, Soros has a DA that's running unopposed. He can call a grand jury at any time. He can set up criminal charges on the most bogus efforts. Letitia James runs this deal. She's got a pliant media right here, pliant left wing media. She's got a jury pool of only left wing radicals in the Upper west side of this city. And she's got the judges, she's got all of it.

[Stephen K. Bannon]

And I'm.

[Pam Bondi]

Hang on. I'm calling on right now the Attorney General Pam Bondi to begin an immediate criminal investigation into Letitia James, Alvin Bragg Oliver, for what they did to President Trump. President Trump on his true social day laid it out once again. The existential threat to his administration is his queen of lawfare, Letitia James and how she has, and how she has absolutely total control. And Doge and Elon Musk and Scott Bessen and all of them ought to be worried about, about this out of control city. Thank you very much.

[Stephen K. Bannon]

Yeah.

[Elon Musk]

This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people. I got a free shot. All these networks lying about the people.

[Stephen K. Bannon]

The people have had a belly full of it.

[Elon Musk]

I know you don't like hearing that. I know you try to do everything.

[Stephen K. Bannon]

In the world to stop that, but.

[Elon Musk]

You'Re not going to stop it.

[Stephen K. Bannon]

It's going to happen. And where do people like that go to share the big lie? MAGA Media. I wish in my soul, I wish that any of these people had a conscience.

[Elon Musk]

Ask yourself, what is my task and what is my purpose? If that answer is to save my country, this country will be saved.

[Philip Patrick]

War room.

[Stephen K. Bannon]

Here's your host, Stephen K. Band. It's Tuesday, the 11th of February in the year of our Lord 2025. We've got a lot to go and particularly President Trump. We're going to go. Which just happened moments ago in the Oval Office with President Trump signing, guess what, more executive orders on days of thunders and taking questions from the press. Kind of his daily fireside chat, press briefing in there. I think there's an executive order about judges. And I know that it's been a lot of focus on. Okay, New York Times. Today, a showdown emerges. This is what I was holding up in front of the courthouse today, a showdown emerges over the limits of presidential power. You see that? That's the lead right there. And then below it kind of the analytical piece was Trump causes constitutional crises. Scholars say a flurry of radical acts that may thwart court's response. Okay, and they're making this case that everything President Trump's doing, everything Doge is doing, Elon Musk is doing Russ Vote over at omb. Stephen Miller is head of the. He's deputy chief of staff for policy. All these guys taking different cracks at the administrative state, different cracks at trying to figure out what the deep state's been up to and trying to crush it. Also trying to look at where you can cut costs dramatically and quickly so that we can afford this government. They are being stopped right now, or slowed down, I should say, in federal court. They're going to federal court from Rhode island to Washington, D.C. to New York City. Federal court to stop the Consumer Protection Board from being shut down and defunded from usaid, being shut down and defunded that people sent home from, you know, everything from government workers having the buyouts, even that they're saying that's illegal, to government workers being told to come back to work or you're fired in different. On and on and on, different restructurings. And they've got unions suing, they have individual suing, they have people suing over their data. So they're everywhere in federal court. What I told NBC is that, hey, President Trump could fight these, could not turn over, could not slow it down. One was about stopping. He stopped payments in a certain area, and they said he had to continue the payments. So the executives in charge of the area have a choice to either restart or defy the courts. If you defy the courts, which I'm inclined to do, and fight this, you know, you could be held in contempt. The executive could go to jail. But my recommendation for President Trump, I know he's a fighter and he doesn't want to comply with a lot of what the courts are saying, particularly since you've heard J.D. and you've heard other people talk about it, they think it's an intrusion upon executive power. To wit, if the appropriations Committee and they pass something. It's got a budget, let's say the Green New scam. And it's got $500 billion. And President Trump steps in to office and there's 300 billion unspent. He believes he has the authority from the Constitution as a chief executive to reprogram that. And that's called, you know, he's got this whole thing about the Impoundment Act. He think he impound it and reprogram it. And that is a big constitutional question have to be resolved. But there's many, many others. Now, I said you can either fight this and be held in contempt and fight the courts at the lower level, or you could comply, slow down a bit, but expedite to get to an appellate court and have a hearing and if that doesn't work, get on the emergency docket of the Supreme Court. And they by and larger have to take some of these things. So that's it on the federal side, that I don't think should be the fear. Number one, you have literally broken the Democratic Party. They don't really have a political response right now. You can see this if you watch msnbc, if you read the New York Times, they're bitching at their leaders. They're not stepping up to Trump enough. They got some of these old hacks outside of government buildings having protests, but it feels very performative. The crowds aren't very big. They're cold, they're sullen and they're beaten. So on the political side, not much. The media is completely shattered, a little bit turned on themselves. They're searching CNNs, they're all trying to figure it out. Okay, but so the Democratic Party and really the media, which is essentially really the opposition party to President Trump, is on its back foot. And the federal courts, I just don't think, I think the federal courts have given TROs and some, you know, temporary restraining orders or stand downs, stays for short periods of time. But I don't see the federal courts, although there's a lot. And they're all running into federal court because that's what they do. And they used to run the deal at a DOJ with the judges in the Southern District in the Eastern District of New York. Remember, all this was their terrain. They had all the ability of law firm that I think works itself out. And I think President Trump continues to press the bet, continues to put the foot on the pedal. Where I see is the chink in the armor. And I think it has to be addressed immediately. And this is what I said Outside the courthouse in New York City. And New York City is not just, it's not Peoria, Illinois, it's not someplace in Missouri. It is the financial capital of the world. And if you look at the ship of state, kind of the way our country's organized, the bridge, let's say, is Washington D.C. but the engine room is in New York. It's where all the capital markets are. It's where the Treasury Department's trading desk is. It's where the Federal Reserve's trading desk. I think the Federal Reserve and the treasury are the two biggest trading desks of government securities and bonds in the world. You have every piece of commercial data goes through there, all types of trade data goes through there. New York's a hub for information. That's why it's the financial capital of the world. Financial capitals deal on information, whether it's 16th century city of London or 21st century Manhattan. And in Manhattan, this is not New York City of the boroughs. It's not Staten island, it's not Brooklyn, it's not Queens, it's not the Bronx. You don't have this kind of particularly immigrant, hardworking people of color that are starting to shift towards President Trump to start to become more MAGA or Staten island, which has always been kind of a backbone of the Republican Party. Up there you have Manhattan. Manhattan is, it's probably the most radicalized part of any city in the country. And inside that city you have two actually radicalized places like the Upper west side. And then you got kind of downtown you have Letitia James, you have an attorney general that has totally and complete control of all of it. And she has a prosecutor in a da, in a Soros backed DA and she's sores backed in Manhattan that has full ability to impanel a grand jury, a criminal grand jury on moment's notice and throw up the most bizarre information for criminal charges. Look at President Trump. Remember, President Trump is found guilty of 32 felonies in New York that were completely and totally bogus. Ask anyone, law professor, you know, any reasonable lawyer, you know, completely bogus. They took these misdemeanors and flipped them into felonies. And I think the jury was out three hours. And they went through, remember days of picking the jury, remember all the picking the jury. Well, I think this guy, this guy's giving me the wink. Remember that one guy? Yeah. He's, he's looked over here, he's unanimous. You have a hand picked from the Upper west side. The existential threat, the clear and present Danger, the clear and present danger to President Trump right now, to me, is only one thing, and that is this system that these radicals and the most radical people underneath the New York legislature, the most radical people, Tish James Alvin Bragg Soros backed with radical prosecutors in a city you can call a grand jury of radicals with nothing to do but sit in a grand jury. Radicals to indict people. And right now, they can make up anything about the information about what you're doing with shutting some of these things down. It doesn't have to be accurate. In fact, they could go for years on the indictment. They can indict you and go for years and years and years, and they have nothing, but they just drag it out. They don't have the politics. They're not winning. President Trump's polling is unbelievable. The media shattered, right? CNN's number's in the tank. MSNBC's babbling every night. New York Times readership. People don't look. Just look at the media, look at the pundits. They have no earthly idea what they're doing wandering around. So no politics, no narrative building, no information warfare. The federal courts are a problem, don't get me wrong, but we're on the high ground there. President Trump's theory of the unified executive, I think, plays out. I would be very careful. I wouldn't, I wouldn't. I think if you start being held in contempt as an executive assistant with President Trump says, no, I'm not going to give you. You say, stop, you know, uncut, off the funding. I'm not going to do it. I think you lose some of the moderates like Roberts and Amy Coney Barrett when you need them. So I think you have to worry about the politics of the court. But I think on the. At least as I understand it, I'm certainly not a lawyer, but as explained to me over and over again, I think in the federal court system, it slows you down, but it doesn't stop it. It slows you down, but it doesn't stop. And it tangles you, but you work through it. The only thing they have is they've set up a perfect system. Soros set it up. It's his money. They thought it through. These are not great lawyers, but this is an existential threat. And to me, it has to be addressed as addressed. I think Pam Bonney, I think the only thing you do is put the fear of God in him. You know, President, this should have happened after President Trump, the sham trial he had the first time. I think Pam Bonney, which Should be a high, high, high priority. And she should put the Southern District. Southern District's a rat's nest. You got Clayton up there. Jay Clayton is a new. But I don't think he's been confirmed yet. Remember, all the US Attorneys had to be confirmed. This thing takes forever. We have other confirmation to talk about this week. Tulsi Gabbard, Bobby Kennedy, Cash Patel. It looks like for Bobby and Tulsi, it's coming our way. And Tulsi was supposed to be the kind of odd lot there. It looks like cash. They're coming back with cash every day. They say, oh, they got a new revelation on Cash Patel. Now they're claiming Cash Patel fired all the FBI agents last week. But, hey, you know what? Good on you. Good on you. You started your job early. That's their new thing. Every day is a new revelation of cash. They've put his committee of jurisdiction, the Judiciary vote till Thursday. Think the other votes are tomorrow. But Pam Bondi is in. Emil Bovey is there doing an amazing job. Todd Blanche has not confirmed, but Emil's there doing a fantastic job. I would set a task force immediately or parse it out to the Southern District, Eastern District. Let's get a criminal investigation going on Tish James and Alvin Bragg. If nothing more, Put the fear of God in them, slow them down, because they're coming for Trump. They're coming for this administration. They feel that they are the last line of defense of the administrative and particularly the deep state. And remember, there are many, many, many, many dark secrets in New York between the Capitol and the intelligence. This is why Donovan, when he set up the Wild Bill Donovan, when he set up the oss, he would pick from two basic types of people. Wall street lawyers, of which he was one, deal lawyers and investment bankers. That's a crowd that, you know, could get things done their way. A lot of dark secrets there. Okay, we've got a full press briefing, I guess a presser from President Trump signing the executive orders. Days of thunder. Continue. Attorney General Pam Bondi hits it. Wow. What a beautiful view. Oh, my Lord. Oh, my Lord. New York, New York. Stunning. Short break. Back in a moment.

[Cash Patel]

In the war room in America's heart.

[Elon Musk]

Have you seen the news from economists forecasting a depression? I'm not talking recession. I mean depression. By the year 2030, we're in a perfect storm as Social Security and Medicare hit a breaking point. With the largest generation hitting retirement. A smaller workforce means a smaller tax base. Pair that with our growing national debt and rising cost of living and you got a problem. And I mean a big problem. So what are you going to do now to protect your family for the future? Gold is a safe haven in hard economic times. And Birch Gold makes it easy to diversify a portion of your savings into physical gold. Birch Gold will help you transition an existing IRA or 401k into an IRA in gold. And it doesn't cost you a penny out of pocket. Protect your future and protect it today. Text Bannon Bannon to 989-898. Get your free info kit on Gold and a copy of the Ultimate Gold Guide for the Trump Era. That's the Ultimate Gold Guide for Gold in the Trump Era. With Forward by Donald J. Trump Jr. There's no obligation. This is only information. Birch Gold has earned the trust of countless Americans looking to safeguard their savings. You can count on them too. Text my name Bannon to number 989-898. Remember the ultimate guide for Investing in Gold in the Trump Era. Forward by Don junior Birch Gold. Do it today.

[Chair Powell]

Disciplining or removing any staff that are found to have engaged in debanking activity, furthering operation choke point 2.0 or other misconduct.

[Senator]

I can't make an open ended commitment to remove anybody, but I will tell you that I am struck and my colleagues and I are struck by the, by the growing number of cases of what appears to be debanking. And we're determined to take a fresh look at that. In fact, I took the thing that you showed during the debanking hearing when I saw that we're now, we're now taking that out of the manual. So I thank you for that.

[Chair Powell]

Over the weekend, Co President Musk and Acting Director vote effectively shut down the cfpb. No more cop on the beat looking out for a family of four in South Carolina facing an illegal foreclosure. No more cop on the beat looking out for your grandma whose bank account has just been taken over by a scammer. No more cop on the beat looking out for people getting ripped off by giant credit card companies that are charging illegal junk fees. It also means that the CFPB is no longer doing one of its most important jobs, examining big banks to root out illegal conduct before it happens, or at least stop it before more people get hurt. Chair Powell, if the CFPB isn't on the job right now, then who is administering JP Morgan or Wells Fargo's consumer compliance exams to ensure that they are following the law?

[Senator]

Senator, I believe that. And you would know that Dodd Frank moved all authority for examinations in the consumer space to the cfpb.

[Stephen K. Bannon]

Let me. Let me have it. Okay. We may come. We may come back to Powell. Poor Powell getting beaten up there by the. He. Clearly, that's the old Republican way of doing things. Powell, which never got anything, got done, you see the new one where they just defund it, cut the money off and tell everybody, don't show up to work on Monday. Hey, the courts may have to get involved. I think there's a theory of the case that says the president, as executive, his executive power has the rights to do that. It's going to work itself out through the courts. They're going to get involved. They are involved. The left is running as they always do. They've controlled the courts for a while. They've controlled the Justice Department. And my point is as serious that is in slowing us down, since I think things are being done correctly. And look, I'm sure there's a lot of questions out there about the data. Are they putting AI in? That's all got to be worked out. President Trump says that he's on top of things, so that'll be worked out. But as far as the effort itself, it may slow it down, but it's not going to eliminate it. Letitia James and Bragg, who are Soros acolytes, it's a different deal. And remember, every financial transaction, all the information, all commercial information, all trade information, eventually goes through something that touches a server in New York, and then they have jurisdiction. Plus, the way you finance the government is all in New York. It ain't in Washington, D.C. so this massive apparatus that kind of coordinates and connects everything with the Treasury Department is anchored in the financial capital of the world, as you would imagine. PHILIP Patrick, CBO so Womack, I don't know if we have that tweet. Womack. Steve Womack's a guy from Arkansas. He's one of the Cardinals. He's one of the old bulls in the Republican Party. And he's not a guy, I think he's on banking committee or something. He's not a guy that he doesn't jump in front of the camera a lot. This is not a guy that's got a high media profile. He put a tweet out. He had just gotten out of these conference meetings, and he gets out, he goes, man, I was just in this conference and talking about reconciling this, reconciling that. And he said, the only thing I wanted to know about was March 14, what's your plan to keep the government funded? And he says, Crickets on that. Nobody brings it up. Nobody talks about it. CBO put out a report. I think it got to you, Philip, on Friday. That shows cbo. And I don't always agree with the CBO numbers, as you don't either, but they're directionally pretty close. They say that they've got a projection year by year between now and 2035, 10 years of which we are $2 trillion per year deficit. And we continue down the path for 10 years. And so at the end, and actually it gets a little higher towards the end, but in 2035, we're at $52 trillion in debt and, you know, barely struggling because, you know, the debt expense is so high. And I realize the economy grows, although they say the economy's going to grow 1.8% per year. And one of the reasons for that, Philip Patrick, is the massive debt load that we hold. So given that, that nobody wants to talk about the 14th, the government's going to shut down. And folks, write this down, they're going to give you a one year, they're going to give you a full year extension to the CR for the rest of the fiscal year. It'll be like an omnibus. There'll be all kind of garbage in there. It'll be to the end of the year. It'll be Biden's numbers 100% in Trump's first year because it has to be almost by law, it will be a $2 trillion deficit in President Trump's first year. And remember, they kicked the can down the road from December and wait for it, not one penny of the doge cuts will be in there because then they'll say, oh, we'll get to those in July for the next year. It will be the biggest kick the can down the road. Now, given that you represent a company that specializes in hedging against times of financial turbulence, your thoughts, sir?

[Cash Patel]

Yeah, I mean, look, the situation is dire and there is still no understanding on the left of the scale of the problem. At least we have an administration that does. But as you say, so the CBO estimate now $838 billion deficit in the last four months. That's 306 billion more than the time frame a year ago. So spending's climbed 15%. We are heading in the wrong direction and it is happening now at a faster rate. Obviously, this is nothing to do with President Trump. We haven't even got his budget yet. And at the same time, the Treasury Department is already using extraordinary measures to prevent breaching the debt ceiling. So I like you think it is very possible the Dems once again will try and force to through a continuing resolution which would leave Biden spending priorities in place even longer. Even Tim Cole, the House Appropriation Committee Chair, suggested this week that we should leave it in place until we get Trump stuff. Obviously, this is an unmitigated disaster. And I think it's these constant failures to draw a line in the sand that have gotten us into the position we are like you say. Twelve months from now, US national debt will be at 40 trillion and it'll rise consistently from there. That's going to be a problem. At the end of the day, the one thing President Trump needs is time, right? He needs time to rebuild the economy, rebuild the base and grow the economy. But the problem is the faster we amass debt, the less time he'll have to do that. The higher interest rates go, the less scope he'll have to do that. So, you know, we know we have the right man in the hot seat, but the job is fraught. And almost every decision he has today comes with a negative as well.

[Stephen K. Bannon]

You know, people have embraced Elon Musk and particularly the Doge guys that are, you know, running around and they talk every day. Like today they didn't give money to FEMA to pay the hotel, the Roosevelt Hotel with the illegal aliens in it. Every day they're popping up with something and it's kind of onesies, twosies. But, you know, you're seeing usaid, which people have worked on for years, but other things. But you see some talk on Capitol Hill, but you don't see, like a wild embrace because the political class does not want to cut spending ever, because having more spending increases their power. What is it going to take, Philip, to have a serious conversation? Because until we come to a joint conclusion that we have to cut spending, it's going to continue on. Unless you have a crisis, and a crisis where you feel that people could step in there and say, we're not going to bail ourselves out now, like they're trying to bail themselves out from the AI Sputnik moment. What do you think it's going to take to get the political class to actually sit there and say we're prepared to cut spending?

[Cash Patel]

That is such a difficult question to answer because the reality is, if they are not at that place yet, I don't know what's going to get them there. It'll take voting in some better politicians long term. Listen, the fact that Doge isn't gaining bipartisan support for me is. Is concerning. I mean look, it is very clear that there is a ton of waste in government spending and why both sides of the aisle aren't interested in really even identifying the problem. I think you hit the nail on the head. At the end of the day it doesn't suit their political ambitions to do so. So as long as we have that conflict of interest, I don't see a change happening. Look, we've said for a long time we may be at the point of no return. Right. Last year debt service payments were 50% above U.S. defense spending. We have to understand no empire in the history of mankind has come back from that position. Like if that isn't enough to wake these people up, I don't know what is. So like I said, it's very difficult to argue against looking through government spending with a fine tooth comb and cutting wasteful spending. You know any argument against that is a self interested argument. It is that simple.

[Stephen K. Bannon]

What is it? What did gold. We got about a minute. I want to hold you through the break for a little while. We got we're also going to play the Oval Office so we're going to figure out how to get all this in. But take me through the dynamics. What are the dynamics that are driving the increase? What a gold finish at today. I was at a previous appointment before I did the last part. What is it?

[Cash Patel]

Of course gold today traded finished in the 2929,02. It's an all time high for gold prices. By the way gold has consistently been setting all time highs over the last few years. What's driving it is a lot of what we're talking about. We're seeing global debt rise across the board. We're seeing de dollarization and ultimately what's really driving gold is demand. We got fourth quarter numbers at the beginning of February we set another record for central bank gold buy. So for the last three years central banks around the world setting records.

[Stephen K. Bannon]

Hang on, I want to go back to this. It's important for the audience to understand the interconnectivity in massive federal spending, the deterioration of the fiat currency and the correlation with that with the demand for a store of value disc called gold or precious metals. Okay. Nicole Negrete is going to take us out with modern day holy war. We have Philip Patrick. We're also going to cut back to we're going to cut back to the Oval Office as soon as we get that clip all set together. Short commercial break. Back in the war room in a moment.

[Cash Patel]

Little children in a straight line. Don't Fall behind.

[Stephen K. Bannon]

Let go.

[Elon Musk]

What if he had the brightest mind in the war room delivering critical financial research every month? Steve Bannon here. War Room listeners know Jim Rickards. I love this guy. He's our wise man. A former CIA, Pentagon and White House advisor with an unmatched grasp of geopolitics and capital markets. Jim predicted Trump's Electoral College victory exactly 312 to 226, down to the actual number itself. Now he's issuing a dire warning about April 11, a moment that could define Trump's presidency and your financial future. His latest book, Money GPT, exposes how AI is setting the stage for financial chaos. Bank runs at lightning speeds, algorithm driven crashes, and even threats to national security. Right now, War room members get a free copy of MoneyGPT when they sign up for Strategic Intelligence. This is Jim's flagship financial newsletter, Strategic Intelligence. I read it. You should read it. Time is running out. Go to rickardswarroom.com that's all one word.

[Stephen K. Bannon]

Rickards war Rooms.

[Elon Musk]

Rickards with an S. Go now and claim your free book. That's rickardswarroom.com do it.

[Senator]

Today we're talking about collaborating with the CFPB for financial technology firms. What would the Fed Reserve now do that? If the cfpb, if the hypothetical is the CFPB no longer exists, what would be the Fed's role right now with respect to technology firms?

We don't have jurisdiction over. We have jurisdiction over banks and some financial market utilities.

So let me ask you this, because I know there's a number of Nevadans who file consumer reports of concerns about fraud and predators with the cfpb. The Fed Reserve doesn't receive those reports, correct?

No, I don't believe.

And you have no role when it comes to consumer protection like the CFPB does. Correct.

Unless you're a Fed member bank that has 10 billion or less in assets, then we have jurisdiction.

Right. So there is a gap. If the hypothetical is true and what we're hearing, that the CFPB is being shut down, there is a gap. What we're hearing in enforcement out there, and particularly when it comes to consumer protection, is that. Would you say that's true?

Yes.

[Stephen K. Bannon]

For.

[Senator]

For all banks that we don't supervise.

And I think that's the concern we're all having right now is this concern of when we're looking to streamline government. And listen, I'll be the first to tell you, there's a lot of bloat. We need to streamline it. We need to address regulations and overreach. But there's a strategic way to do it and not this burn down the house that is going to harm people across the country, including in my state, those Nevadans that are looking for some sort of enforcement around consumer protection laws. So that's.

[Stephen K. Bannon]

Eventually we're going to find the part where he talks about interest rates.

[Cash Patel]

Eventually.

[Stephen K. Bannon]

We keep looking. Philip Patrick, the engine room informs me, because the engine room, our devotees of Philip Patrick and Birch gold said you're too modest. Since they piled in here a year ago, year over year, gold's up 44%. Any truth to that rumor, sir?

[Cash Patel]

It is indeed. I just looked from our first release of End of the dollar empire up 53%. It is moving. It is moving.

[Stephen K. Bannon]

Well, I want to get to that. Look, we don't give investment advice and gold traditionally doesn't move like a stock. It's always been a store of value and it's a hedge against times of uncertainty. You've always been able to depend upon it. Basically throughout mankind's reason, people are attracted to gold as a hedge or an investment. And it's why people have always talked about you have to get the currency back to a gold standard or somehow backed by gold. The BRICS nations, when they're talking about these currencies and President Trump's dropped the hammer, says if you even talk about it, you're going to have 100% tariff. Don't even talk about it. The dollar's going to be an empire for a long time. At least on my watch. It's not going to leave on my watch. But you have these central banks and I keep saying they're the tell the central banks because they have all these guys from Harvard, all these guys from Stanford, they have the handheld calculator, HP12C. They can do net present value. They see the deterioration of the purchasing power of the dollar.

[Cash Patel]

Why?

[Stephen K. Bannon]

Because at Midnight on the 14th, folks, the political class is not going to have the balls to actually present you a budget. We're just going to kick the can down the road and we're going to have with all the talk that we've had and all the sturm and drunk that we had, we're going to have Biden's numbers, a $2 trillion deficit and no doge cuts as we stand now, unless we can wake people up. So what is the dynamic that's driving the central banks to buy it and to see this kind of incredible push of gold all the way up to all time highs?

[Cash Patel]

Look, there's a few different drivers look, first of all, you know, the world has always had incentives to use the US dollar. Right after 1946 till 1971, it was the dollar's redeemability, right? Following that, we have the Petrodollar agreement. And the key thing with the US Dollar has always been stability. As far as currencies go, it is the most stable and the world was incentivized to use it. Well, look at what we've done to our currency over the last 15 years. We printed more money than ever before in history. What has that done? It has led to a dev. The dollar incentivized nations around the world to look for alternatives through Biden's weaponization of the dollar. We told nations around the world, you do something we morally object to, your dollars can become liabilities overnight. We are removing incentives for nations around the world to hold the dollar. Well, the problem is, as we've said before, the dollar is still the tallest midget in the room. There isn't a currency yet better than the US Dollar. But central banks around the world are betting on the failure of the dollar longer term and they're doing so by buying gold. The reason you buy gold when you're worried about long term prospects of the dollar, gold and the dollar are directly inverse. So a bet on gold at the level that we've seen central banks do it over the last three years is a large bet against the US Dollar. The reality is they don't know which currency will ultimately overtake the dollar longer term. But that's why they're buying gold. They're hedging their bets and gold is the best way to do it when currency is involved.

[Stephen K. Bannon]

What do you see if we continue like for instance, I know you're not here and you never do project like the price of gold was going to be, but just in pattern recognitions. If we have a failure of the political class, if we have, they thwart President Trump's efforts to try to get spending under control. If the CBO numbers and Cameron and the team and Grace, I'd really like to get that 10 year report out and people just. There's a couple of summary charts but you should. Some of it will seem dense but I strongly recommend you get it because it's a pretty good projection, at least one attempt with some pretty basic assumptions of what could happen. But if we continue on in perpetuity with $2 trillion deficits and what I mean by that, that the cost of what we're paying out for defense and Social Security entitlements and everything is $2 trillion per year higher than what we take in. And we get to $52 trillion in 10 years. Where do you think we are with precious metals? What's your pattern recognition say? What's the direction of gold?

[Cash Patel]

The direction of gold is certainly to the upside, and in the climate that you're describing, it is to the upside significantly. We have to remember gold's value is a reflection of the value of currency. I've always said heading into this year, just with demand as it is, we see gold over 3,000, likely in the mid $3,000 range by the end of this year. However, look at guys like Jim Rickards. Jim Rickards for a long time says in his lifetime he'll see Gold at $10,000 an O. Right now he's talking about hyperinflation, right? He's talking about losing this battle in a big way. If that happens, the sky's the limit for gold price. Now. Rickard says if gold's $10,000 an ounce, we're paying $200 for a loaf of bread. That is not a good position to be in. So it all depends on whether we win this battle longer term. Listen, I'm hopeful with President Trump at the helm, but like I said, no nation has recovered from this position before, and I'm hedging my bets. And precious metals are the best way to do that. They increase significantly in times of devaluation.

[Stephen K. Bannon]

Well, the chief fiduciaries of these major nations are hedging their bet also. That's why I keep telling people, just look at the net gold purchases of the central banks. They're telling you what they think. They're putting it away for a rainy day. They're not buying, Remember, they could be taking that money and putting it into investment capital equipment in their countries. They're not. Why? They're putting some part of a money away to put in precious metals because they want to hedge. They just don't. They're very uncertain about the future. Go back to why do people Mill Freeman, Milton Friedman made it popular, I think, in the 70s and 80s. And then after the hyperinflation of Volcker and Reagan, which Volker and Reagan killed, it kind of lost. Why. And you and I talk about this a lot. You always really look at. And I know Rand Paul and Ron Paul would always do this. The money supply, the printing of money, you know, more money in the system, you know, printed by the federal government. Why do you look at that? Why is that one of the indicators you always look at as where the economy's going, of how much money is being printed, because it has a massive.

[Cash Patel]

Effect on currency and conversely, a massive effect on gold prices. At the end of the day, you cannot increase money, money supplies indefinitely. It has a significant impact on the existing money supply. Never in history has a country that financed big budget deficits with large amounts of central bank money avoided incredibly high levels of inflation and devaluation. As somebody who invests in gold, who sells gold, that's what we watch. Because ultimately inflation drives gold up. The dollar devaluation drives gold up. And you cannot do what we've been doing without seeing significant effects. We've been saying this for a long time now. Everything we've been saying. People thought we were crazy years ago. Now look at it. It is mainstream political thought. Finally, even the left have woken up and understand that we need to address deficit spending. Too little, too late in my mind on their part, but even they realize the extent of the problem. This is going to be a tough one to come back from. There's no question about it. It's the most important thing today is deficit spending, debt, and it's all inextricably linked. Listen, the BRICs are using gold as a means to de dollarize. Number one, it's more stable than the dollar. But two, it allows them to reduce reliance on the dollar. So everything's connected. And like I said, there's a reason gold is setting records day on day on day today.

[Stephen K. Bannon]

This is the reason we make such a big deal about the 14th. In any negotiation, you have to have leverage points. Well, we got one. We're on emergency measures right now. We've already breached the debt ceiling. We're in emergency measures right now because we can't add any more debt technically. So we're just taking cash and paying off. Taking cash as it comes in and paying off what we got to pay off. The clockwork strikes at Midnight on the 14th when we've got to have new authorization to spend any more money. So we're going to use that as a leverage point. I think it's Kenneth Rogoff has that famous book. This time it's completely different. Every empire, every kingdom, every country from France before the revolution to everybody. Every time they breach 100, you know, more debt than GDP. They always, the finance ministers, they always say, well, hang on, this time is different. We got this. And here's how we got it. History shows they've been 100% wrong. It's a perfect. It's a perfect record. They never come back. They just don't. So, you know, somehow we got one brief shining moment to do it, and that is now. How do people in this time of turbulence, how did they get to you? You've become a real, you know, fan favorite here. People love you coming on. How do they how did they get to you? How did they get to your team to talk to you personally about their situation and what they should be thinking about? Of course.

[Cash Patel]

Well, thank you, Steve. So very simple. Birchgold.com Bannon Again Birchgold.com Bannon that'll get them access to End of the Dollar Empire. All of the reports there, how and why to invest in precious metals. So a guide on precious metals and investing under a Trump administration as well. So lots of free information. Berksgold.com forward/bannon or text Bannon to 989898 and they can reach me at philippatrick on getter.

[Stephen K. Bannon]

Philip Patrick, thank you, sir. Appreciate you coming on. Appreciate your putting stuff up in social media.

[Cash Patel]

Thank you, Steve. Thanks for having me.

[Stephen K. Bannon]

So birchgold.com make sure you go to end of the dollar empire birchgold.com Bannon into the dollar empire. We're also going to have a special deal running up on CPAC about that. So make sure you check it out. Also cpac.org war room. Is it war room mo I think it is. It's not war room Bannon. Try one or the other. I think it's war room. $76 tickets, $76. You're going to get a Force Multiply Academy and a free lunch. We're showing a ticket. You're also we got a couple of parties. Hope to get everybody into some of that. May be first come, first serve. We're going to try to get everybody in over at Butterworth and we got a brunch on Sunday a lot. We're going to be hanging out and having a great time. Couldn't be more excited. The entire team's going to be back there. You get to meet everybody. We'll hang out. We're going to have great shows. Real America's always got an incredible studio. And guess what? We don't have to be quiet. Remember last year they would come in and say war room posse. You've got to be quiet. No, we kick out the jams this year. It's the last year at National Harbor. Let's make sure that they think, man, we're glad we're rid of those guys. They were obnoxious. They have all the government conferences over the gsa. When you walk in, they're giving you stink eye because they know you're part of MAGA Short commercial break Back in the war room in just a moment.

[Elon Musk]

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[Stephen K. Bannon]

It's free.

[Elon Musk]

Go to donewithdebt.com that's donewithdebt.com here's your.

[Stephen K. Bannon]

Host, Stephen K. Band. Okay, we're need you at the Ramparts particularly tomorrow. We're going to have a full day. We'll start at 10 o'clock in the morning. They're going to be a full day because there's going to be votes tomorrow and Thursday for Tulsi Bobby Kennedy and Cash Patel. Cash. They're accusing Cash now a whistleblower has accused Cash of being involved in the FBI firings last week before he's involved in the FBI. I would say thank God that Cash is involved. It's time you cleaned out that rat's nest. Let's start early. He's going to get confirmed. They're doing everything. This is what happens when they delay. I said this was going to happen when they did the getting rid of the FBI guys. I know it had to be done then, but I would have waited until Cash got his committee hearing because they're trying to slow walk him. Remember they're saying they're not going to take him to the floor to the end of the month. We need you at the Ramparts. We don't need you any more anxious than you already are. Hometitlelock.com and hometitlelock.com Steve25 they get the triple lock protection. It's 247 coverage. It sends an alert in the middle of the night and if something happens, they've got a million dollar guaranteed restoration product that will support you. So go check it out today. Make sure you understand all the details they give you full access to. Talk to everybody. Don't let either a non state actor or maybe even some of you know, there's so many different ways to get into your title. That title is the only contractual materialization manifestation of your ownership of that real asset called a home. So check it out. Hometitleock.com Steve25 Go check it out. Cash Patel Cash is taking some incoming. They've gone through his financial statements, all minor stuff. It's actually a film I was involved in. I want to talk to my producer. I didn't get paid somehow. Cash, I think, was actually a producer of it. So I forgive him. It was a, you know, it was a film someone I knew was doing and they were doing it about, you know, Trump's people and, you know, Trump's guys being rolled up by the, by the deep state and coming after us. I thought it was actually a very good film. But they're picking on poor Cash for it. They're trying to do everything to stop cash. They're not going to stop cash. They're going to tear their hair out, they're not going to stop Tulsi and they're not going to stop Bobby Kennedy. And that's going to be three huge wins. I think one of the reasons of people saying, hey, finally we are, you know, we want President Trump. He's on a roll. Days of Thunder, we're going to play the complete just from the Oval Office, he had a, he had a signing ceremony with some EOs. Elon was there. They answered some questions from the media. President Trump then gave him put a little more flesh on the bone in Gaza, which is very important. So we're going to get to all that at the top of the hour. We also have Roger Kimball. One of the most important things President Trump has done, he's done is take over the Kennedy center, that's high church for the secular, administrative and the atheistic deep state in Washington D.C. so they're shattered. President Trump says he's going to put some big changes. He's got Rick Grinnell, Grinnell's got, let's see, interim Kennedy center and he's the interim head of the la because Rick's from LA of the revitalization of that. So he's got two pretty big jobs already. And good on you. I'm kind of glad that Rick wasn't named. He's going to be ambassador or special envoy. We need Rick here in the States. He's just doing, doing tremendous work. We just went through the math with you irs and President Trump is shutting down a lot of the IRS agents. He's said they're going to go online. Until they do that, Tax Network usa. Particularly if you owe back taxes. Remember, when you get the envelope, don't put it in the drawer. If you put in the drawer, it's not going away. Fees continue to run up. Penalties continue to run up. Interest rates continue to run the interest on it. It's like a cancer. It's metastasizing. You've got to cut it out. How do you do that? You either open the letter and call the number yourself or before you call the number, you go to taxnetwork USA Banit. Get a free consultation. They'll tell you just bluntly whether they can help you or not. And if they can help you, take, you know, take the advice, get the details and sign them up because you don't want to negotiate with the irs. Buy your loans now. If they tell you not to, then get on with it. But whatever you do, just don't leave it in the drawer. Not smart. Mike Lindell. We got something from Mike Lindell. We don't have live Mike Lindell. So we're going to go to. I think this is fantastic. Can we go ahead and play it and then we'll come back to yours truly.

[Philip Patrick]

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[Stephen K. Bannon]

D Mike Lindell. Okay, the right stuff. President Trump, Trump, Days of thunder. My only warning or heads up is this New York situation. Soros is gunning for Trump. He's got two instruments, Alvin Bragg and Letitia James. They've come after Trump before, left him with 32 felony charges. They're not finished. The New York situation has to be addressed. I think Pam Bondi is the perfect or Southern district, district of New York or Eastern district. But somebody's got to get on it. You must fight fire with fire. The sooner that happens, the better for President Trump's heroic efforts to deconstruct the administrative state, to destroy the deep state, to radically cut spending, and to save his country. Short break next. Next hour, President Donald Trump.

[Elon Musk]

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[Stephen K. Bannon]

This is a Jace case.

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[Jim Rickards]

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