Episode 4338: ReEstablishing A Constitutional Order; The Lefts Plot To Silence Maga

Summary

Podcast Summary: Bannon's War Room - Episode 4338: ReEstablishing A Constitutional Order; The Left's Plot To Silence MAGA

Release Date: March 14, 2025
Host: WarRoom.org (Stephen K. Bannon)

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Introduction

The episode kicks off with Steve Bannon expressing urgent concerns about the current political climate. He paints a grim picture of a "dying regime" threatening free speech and targeting Christians and MAGA supporters. Bannon emphasizes the manipulation by media networks and rallies listeners to recognize their role in "saving the country."

Notable Quote:

"[00:02] Steve Bannon: This is the primal scream of a dying regime... If that answer is to save my country, this country will be saved."

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Segment 1: Interview with John Yoo – Restoring the Unitary Executive

Guest: John Yoo – Legal Scholar and Former Justice Department Official

Background:
John Yoo provides an overview of his extensive career, highlighting his tenure at the Justice Department during the 9/11 attacks, his academic contributions at Berkeley Law, and his focus on presidential war powers and the unitary executive theory.

Discussion Points:

1. Unitary Executive Theory:

   • Yoo explains that the theory posits the President as the sole enforcer of federal law, centralizing executive power.
   • He argues that post-Watergate reforms diluted this power, making agencies like the DOJ and FBI semi-independent.

2. Watergate-Era Reforms:

   • Yoo criticizes the extensive legislative responses to Watergate, stating that Congress overreacted by excessively restricting presidential authority.
   • He contends that these reforms were aimed at creating technocratic agencies insulated from presidential control.

3. President Trump's Constitutional Agenda:

   • Yoo praises President Trump for efforts to reverse Watergate-era restrictions, citing spending cuts, workforce reductions, and reasserting control over key departments.
   • He asserts that Trump's actions align with the founders' vision of a strong, accountable executive.

4. Legal Battles Against the Administrative State:

   • Yoo discusses ongoing legal challenges to Watergate-era statutes, including filing briefs with the Supreme Court to limit district judges' ability to issue nationwide injunctions.
   • He emphasizes the importance of restoring executive authority to effectively implement presidential policies.

Notable Quotes:

"[05:17] John Yoo: ...Watergate didn't fully make DOJ and FBI independent the way they've made, say, these inspector generals independent or the CFPB independent."

"[07:54] John Yoo: The people who chose to make the presidency a singular office that concentrates all the power... Watergate Congress has tried to do is they tried to cut the links between the president... They wanted Congress to detach the executive agencies from presidential control."

Recommendations for President Trump's Address: Yoo advises President Trump to reprimand the Justice Department for politicizing legal actions against former President Trump and opposition figures. He urges the President to reaffirm his authority over law enforcement agencies, emphasizing that the executive branch should enforce laws unilaterally, not be overridden by independent prosecutors.

Notable Quote:

"[12:26] John Yoo: ...the president, not individual Justice Department attorneys, the president is in charge of enforcing law into the Constitution, and they are there to assist him, not override him."

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Segment 2: Financial Analysis with Jim Rickards – Navigating National Debt

Guest: Jim Rickards – Financial Analyst and Author

Discussion Points:

1. Debt-to-GDP Ratio:

   • Rickards highlights the critical nature of the United States' debt-to-GDP ratio, currently hovering around 125%.
   • He contrasts this with other nations like Lebanon and Greece, emphasizing the unique position of the U.S. due to its ability to print its currency.

2. Economic Growth vs. Debt Accumulation:

   • He explains that sustainable debt levels require GDP growth to outpace debt growth.
   • The "333 Plan" proposed by Treasury Secretary Scott Bessen aims for deficits below 3% of GDP, real growth at 3%, and oil production at 3 million barrels per day to achieve this balance.

3. Consequences of High Debt:

   • Rickards warns of potential defaults or hyperinflation but differentiates the U.S. from other countries by its currency sovereignty.
   • He advocates for economic strategies that reduce the debt-to-GDP ratio without necessitating outright repayment of the national debt.

4. Critique of Keynesian Stimulus:

   • Bannon and Rickards critique ongoing federal spending as unsustainable, arguing it exacerbates the debt problem and undermines GDP growth.

Notable Quotes:

"[22:14] Jim Rickards: We're at the same lunch table as Lebanon, Greece and a couple other countries. That's where we are."

"[25:59] Steve Bannon: ...Jim, can GDP grow faster than the debt? That's the only issue."

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Segment 3: Swatting Incidents Targeting MAGA Media Figures

Guests:

1. Joe Pags – Comedian and Media Personality
2. Sean Farish – Prominent MAGA Supporter

Discussion Points:

1. Experiences of Swatting:

   • Joe Pags recounts a terrifying swatting incident where armed individuals with rifles confronted him at his residence. Thanks to immediate action and law enforcement response, he survived without injury.

   Notable Quote:

   "[33:08] Joe Pags: ...a dude at my front door with an AR15... I called 911... there is no distress, no peril at my house."

   • Sean Farish shares a similar experience in Tennessee, where police responded to a false report of a murder and suicide attempt at his home. Both he and his wife narrowly avoided a potentially lethal confrontation.

   Notable Quote:

   "[40:54] Sean Farish: ...someone murdered somebody in the house and was planning a suicide by cop... We have three cats we rescued."

2. Implications and Responses:

   • Bannon discusses the malicious intent behind swatting, viewing it as an assassination tactic to silence outspoken MAGA figures.
   • Emphasis on the need for media personalities to collaborate with local law enforcement to recognize and mitigate such threats.
   • Recommendations include installing security cameras, educating dispatchers about swatting, and establishing direct communication lines with law enforcement.

   Notable Quote:

   "[35:18] Steve Bannon: ...they want the police to shoot you and to assassinate you...they are trying to take out media people that they don't agree with."

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Conclusion

Steve Bannon wraps up the episode by reiterating the pressing challenges facing the MAGA movement, including legal battles against the administrative state and direct threats like swatting. He underscores the importance of solidarity among supporters and the ongoing efforts to restore constitutional order amidst relentless opposition.

Final Remarks:

"[48:44] Steve Bannon: ...Look how they're trying to stop him every way. And the people that promulgate that, because it's information warfare, you know that. We know that."

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Key Takeaways

• Restoration of Executive Power: Efforts led by figures like John Yoo aim to reclaim presidential authority by reversing reforms that insulated executive agencies from presidential control.

• Economic Sustainability: Addressing the national debt through strategic economic growth and controlled deficits is critical to avoiding financial instability.

• Safety of MAGA Figures: Swatting incidents represent a severe threat to the safety and freedom of expression of MAGA supporters and media personalities, necessitating proactive security measures.

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Note:
This summary excludes commercial advertisements and non-content segments to focus solely on the substantive discussions within the episode.

Transcript

[Steve Bannon]

This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people. Christians not got a free shot. All these networks lying about the people. The people have 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 lie? MAGA MEDIA I wish in my soul, I wish that any of these people had a conscience. Ask yourself, what is my task and what is my purpose? If that answer is to save my country, this country will be saved.

[Stephen K. Bannon]

WAR ROOM here's your host, STEPHEN K. Band.

[Steve Bannon]

It's Friday the 14th of March in the year of our Lord 2025. This afternoon, the official surrender of the Senate, the Democrats in the Senate as they refuse to try to shut down President Trump's government. Be eight senators think breaking cloture. Remember last night when he was getting lit up, we started the show in the cold open with Chris Hayes not lighting up, but kind of saying, hey, asking Truman, how can this happen? You know, you're going to break the spirit of our activists. The number one reason he had, he says, hey, I'm so afraid that Trump will shut down the courts. And right now, that's where we're winning. John Yoo joins us. John, first off, can you just give a little bit of your background before we get into the meat of this? Can you just give us, tell us what your experience is in this entire area?

[John Yoo]

Well, the most important thing about me is I grew up in Philadelphia, Pennsylvania, where I learned to fight, but I grew up in Philly. I went to college, law school. I clerked for Justice Clarence Thomas on the Supreme Court. And then I went to teach law at Berkeley, where I've been for most of this time, aside from a few years off to work in the Justice Department, where I was on the day of the 911 attacks and I worked on the counterterrorism response to 9 11. And then I've spent my whole career studying the presidency in and war powers and thinking about what you've mentioned, the unitary executive theory of the presidency.

[Steve Bannon]

So I want to talk about that. We've talked about this now for a year on the show and try to get the activists, we're an activist audience, the War room posse. And you know, one thing we've talked about is that he's chief executive officer, so he gets to make these certain decisions which they're fighting in court. Right now, he's the commander in chief of the armed services, the uniformed military, but he's also chief magistrate and chief law enforcement officer. And this has kind of been changed. You know, they kind of threw at the Constitution after Watergate. One of the reasons I wanted to have you on here in the middle of this fight, you've written a magnificent piece kind of about that. And if we can get that, if we can put it in the chat rooms right now while John's here and put it up, Walk us through this piece about is this is what is happening now with the entire broad assault of President Trump's doing on this unitary executive theory is part of this to end the sins of the Watergate reforms, sir?

[John Yoo]

Steve? I wish I had put it that way. I think in the wake of Watergate, our system overreacted. Huge Democratic majorities in Congress thought the problem was excessive presidential power. And they passed a series of statutes to try to pinion down the president, like Gulliver and Lilliput. And so I think what President Trump's doing, if you look at the broad picture, the spending cuts, the reductions in force, the limitations on the regulatory power of the state, the reassertion of control over the Justice Department and the FBI, what he's doing is he's trying to end those Watergate reforms, not because he's got some, you know, idiosyncratic view of the presidency of his own that nobody knows about. What he's trying to do is restore the presidency to the original vision that our founders had. Our founders are the ones, as you pointed out, who put all the power of enforcing federal law in a single person, the president. The Constitution doesn't mention anybody else. Everyone in the executive branch, therefore, is an assistant to the president in carrying out federal law. And therefore, as Alexander Hamilton first said back in the first Washington administration, and his Supreme Court's repeatedly affirmed after that, therefore, the president sets the law enforcement agenda. He must be able to remove fire and control all the subordinates in the executive branch so that there is a unified approach to enforcing the law. What Watergate Congress has tried to do is they tried to cut the links between the president, who's the only democratically accountable official in the executive branch, and all the cabinet agencies, these boards. They want, Congress wanted all those agencies to be independent. They want all those bureaucracies to rule in the name of expertise and technocracy and not for the democratically elected president.

[Steve Bannon]

I just want to go over this again because we're a huge believer here, ideas have consequences. And once people get the intellectual construct, then the news just doesn't seem so random every day. You can kind of put it in there. The framers of the Constitution believe that the office of the President and the individual in that office would be the. Besides being the chief executive of the government and being commander in chief of the armed forces, the other role would be chief magistrate and chief law enforcement officer. And that carried all the way up until Watergate and all the reforms of Watergate, we kind of broke that. And the Justice Department, the FBI kind of became, you know, they were hived off in independent agencies. Is that generally correct?

[John Yoo]

Yes. So they, Watergate didn't fully make DOJ and FBI independent the way they've made, say, these inspector generals independent or the CFPB independent or the. And all these Alphabet agencies. But they tried to make it hard, for example, to remove the FBI director. They gave the FBI director a fixed term. They tried to create this notion that the attorney General and the enforcement of the law should somehow be separate from the president. And the worst, I think the worst sin of all, the Watergate Congress created the special counsel law, and the special counsel actually did create a prosecutor who could not be fired by the president unless he or she committed a crime, which is extraordinary if you think about it, because the core, as you said, the core power of the president is chief executive, commander in chief and then chief magistrate, chief enforcer of the law.

[Steve Bannon]

You bring in there also the administrative state. So every night on MSNBC and every day in the New York Times and on cnn, it's all about, trump's a fascist. Trump is leading us down to an authoritarian. You know, you're having the authoritarian breakthrough. Every day they've got a different part of how Trump is trying to become a strong man, etc. Isn't he doing, when you look at it in the legal frame, as the framers will look at, is trying to take on a post constitutional administrative state that is nowhere in the Constitution and trying to deconstruct that and take actions like withholding money or reprogramming money or things like letting people go. And last night, yesterday in San Francisco and then in Maryland, we basically have challenged whether the President of the United States can actually do a reduction in force. So it's not him trying to be a fascist. It's him actually trying to go back to the court documents of the Constitution against this administrative state.

[John Yoo]

I see it that way. The people who chose to make the presidency a singular office that concentrates all the power one person were the founders. They thought that you had to concentrate the power in a single president because that would make the president accountable, but also give the government the advantages of acting with speed, decision dispatch, that's the phrase that Alexander Hamilton used. He wanted to have energy in the executive, which he called the defining character of good government. So the Watergate, Congresses, what they wanted to do, actually, this starts well beyond Watergate. Watergate's almost the culmination of it, but it starts with Woodrow Wilson and FDR and lbj. What they wanted to do was dilute the presidency. They wanted to disperse all that power. They wanted the executive branch to become unaccountable and then to fill it with a lot of Congress's powers. Because the whole idea to them was give the power to experts, give the power to technocrats, this vast administrative state, and detach it from any kind of political accountability to voters. And I would say they succeeded. I think that's the world we've been living in for the last almost hundred years now, ever since the New Deal and what Trump's fight is on a day to day level, it's this, as you said, spending here, firing people there. But the bigger picture is he is trying to restore the Constitution and the executive branch back to that original founding vision and reject this progressive Constitution we've had for about the last hundred years.

[Steve Bannon]

So we talk every day here about flood the zone and the tenor troll, things he's doing, executive orders, executive actions, other things, or Churchill's action this day that gets back to dispatch and energy and the executive. But you can see in San Francisco, at the federal judge in Maryland, in Schumer, what they're trying to do is slow this whole process down. I was talking to Mike Davis in the previous hour. This doesn't look like it's going to get resolved quickly. I don't see this getting into any, you know, emergency docket, expedited docket at any appellate court, or emergency docket of the Supreme Court. So are they, are these radical federal judges kind of winning now and trying to slow down and take out the energy, absorb the energy of President Trump's drive every day to sort this mess out, sir?

[John Yoo]

Well, I think the founders would be surprised to see what's going on now that people are rushing to court to get federal judges like out here in San Francisco where I am, or in Maryland or Rhode island and have a single judge stop the entire federal government nationwide from basically implementing personnel policies about how the executive branch is to be run internally. This is not about the individual rights of somebody. This is about just how the president chooses to run the executive branch. And so I think what the founders had thought would be Congress would be the main bulwark if there was going to be a fight over the president's powers, that would occur between Congress and the president. Going to courts is a sign of political weakness, actually, it seems to me. But now I think what's going on is that the Trump administration just made an important filing at the Supreme Court to try to end this practice. They just made it yesterday to end this practice of district judges being able to issue what they call universal or nationwide injunctions that have the effect of stopping the entire government nationwide. So we might get an answer faster than maybe a few years, which was what happened in Trump's first term with the travel ban. We might get an answer in a few weeks or a few months. And if that practice stops, then I think the executive branch can go forward and these cases will get litigated. Part of what President Trump is doing, I think, is setting up test cases to challenge some of these Watergate era precedents, to overturn them, and then also have the Supreme Court on his side when he goes to this large task of cutting down the administrative state and returning us back to the founding Constitution.

[Steve Bannon]

John, last thing I know you got to bounce, but the president's actually, they're all on meltdown today. President's actually going to leave the White House and go over the Justice Department in a address. The troops over there, you know, the lawyers and the folks, and I think some of the FBI. I think Cash is going to be there with Attorney General Pam Bondi. What would be your recommendation? If you were in the Oval this morning, what would be your recommendation? The one or two things you think the president should hit in his address to the Justice Department, sir?

[John Yoo]

Well, first, I think he should chastise them for allowing the Justice Department to be used to interfere in the last elections. The idea that the Justice Department prosecuted a former president, not only a former president, but also the leading opposition candidate for the presidency, broke all traditional norms in our country, and I think is a serious blemish on the Justice Department. And he needs to tell them that was wrong. I'm sure he will. But I think the second and more important point is to go over some of the things we talked about in this segment. Remind them that the president, not individual Justice Department attorneys, the president is in charge of enforcing law into the Constitution, and they are there to assist him, not override him.

[Steve Bannon]

John, you. What's your social media how can our audience follow you or your website, sir?

[John Yoo]

It's one of the blessings of my life. I'm not on social media. I don't have Twitter or anything. Sorry.

[Steve Bannon]

We will, we will continue to put your writings up. Honored to have you on here, sir. Thank you so much.

[John Yoo]

Thank you. Thanks for having me.

[Steve Bannon]

John. John, you one of the greats. See the fight we got, folks. Trump. It's not the fascist they say he is. Every second of every day, President Trump's trying to go back to a constitutional order. Donald John Trump and his team. What does Scott Bessen say? It'd be the easiest thing in the world for President Trump just to continue to spend this money. Continue to spend this money, Let the administrative state grow, let the wars continue. That would be the easy path. President Trump's taking, the hard path because the country's in the balance. You just had one of the smartest legal minds in the country right there. John Yoo walk you through the entire thing. The sins from the progressive movement of Wilson all the way through Watergate. He's trying to reverse the entire thing. He's trying to clean up the military. Every different aspect. That's the chief executive commander in chief of the armed forces, chief magistrate and chief law enforcement officer of the United States of America. Trump is basically trying to set things right. What a struggle. As long as you've got his back, we're going to continue to win victory after victory after victory. Short commercial break Jim Rickards on the other side. You don't go out and buy a life jacket when the boat is already sinking. And you don't buy gold when the economy has already collapsed. Clearly others are heeding this advice as gold hit an all time high the first part of 2025 multiple times. It's not too late for you. The company I trust to help you diversify into physical gold is Birch Gold, the company I buy my gold from. Birch Gold specializes in helping you convert an existing IRA or 401k into a tax sheltered IRA and physical gold for no money out of pocket. Just listen to this five star review. Quote knowledgeable, helpful, non pressure, end quote. That's what you get with Burch Gold and that's why I've endorsed them for so long. Get your free info kit on gold by texting the word Bannon B A N N O N to 989-898. There's no obligation, just useful information. With an A plus rating from the Better Business Bureau and countless five star reviews. Text Bannon, Bannon O N to 989- 898. And let the experts at Birchgold help you secure your financial future today with gold.

[Stephen K. Bannon]

Here's your host, Stephen K. Band.

[Steve Bannon]

Records Bess in saying that the easy path would be just to continue to spend and continue. This Keynesian stimulus would be the easiest thing for Trump. Right. He won't take it. And you saying right there that Trump is doing something to restore the constitutional order. Your thoughts, sir?

[Jim Rickards]

Right. And just to follow on with what John Hughes said, which I agree with, by the way, most important thing he said was he's from Philly. I am too. I lived on Spring Garden street and went to Penn Law. So I should, oh my God.

[Steve Bannon]

You know, you know, hold it, hold it. There's nothing worse than, there's nothing worse than an Eagles fan. Maybe a Phillies fan, but there's nothing worse than an Eagles fan. You guys, you've strung a long time. So congratulations.

[Jim Rickards]

I'm both. John pointed out, obviously there's a major legal battle going on. When I see these cases and there are like 30 of them now. It's not like two or three. I always look at the background of the judge, the district court judge. They're almost all Biden appointees, some Obama, a couple of Clintons, but they're pretty much Biden appointees. And they're forum shopping in Rhode island and Massachusetts and places like that. But John's right about how I think this is going to end up. He talked about the nationwide injunctions, which are extremely damaging, and Alito and Clarence Thomas are all over that. But there's another issue he kind of touched on, which is are independent agencies even constitutional in the sense of being independent? I mean, Congress can create them and fund them, but the president runs them for all the reasons you and John just discussed. But this idea that, you know, Jay Powell, his press conference a couple months ago said he was asked, you know, are you worried that Trump's going to fire you? And Powell said, he can't fire me, it's illegal. Those are his exact words. And he's a lawyer, by the way. He's not an economist. We may find out, we may find out that, that, that kind of so called independence, whether it's the Consumer Finance Protection Bureau, the Federal Reserve, fcc, sec, keep going. Whether they can truly be independent of decisions by the White House. So that's, that's another thing I'm working on. I'm researching this. It's an article I'm calling Lawfare 2.0. Lawfare 1.0 kind of came to an end with Trump versus United States, 2024. And the Supreme Court said, the President can't commit a crime, cannot be liable for a crime in his official duties. And by the way, speaking of Watergate, go back to 1979, when Richard Nixon was being interviewed by David Frost. And Frost wanted Nixon to say, yeah, I booked the law, you know, something like that. And he kind of got around to it. But when Frost pressed him, Nixon said, when the President does it, it's not illegal. That's an exact quote. When the President does it, it's not illegal. He was ridiculed for that. You're a dictator. They laughed at him as Senator. Nixon was a pretty good lawyer. He was right. It took until 2024 for the Supreme Court to say that. But Nixon was actually right when he said it in 1979. So there's a lot more to go there. But, yeah, I mean, getting back to, you know, the economic points we were discussing, Besant had even before it was confirmed, before he was then Secretary of the treasury, he had this 333 plan. And he said, what we need is 3% real, sorry, deficits below 3% of GDP, 3% real growth, and then 3 million barrels a day of oil. That was the 333 plan. You don't hear much about it anymore, but it makes perfect sense. And here's why. If deficits are 3% of GDP and deficit is a nominal thing, meaning it's a number, it's not adjusted for inflation, it's just a number. Real growth is 3. But we have 2% inflation. So what that means is nominal growth is 5, 3. If you have 2% inflation, 3 plus 2 is 5, right? So if the deficits below 3% of GDP, but nominal GDP is growing 5, 3 plus 2, what does that mean? It means that the GDP is growing faster than the debt and the debt to GDP ratio is going down. The notion that you've got to pay off the national debt, that hasn't happened since Andrew Jackson 1836. You don't have to pay it off. You do have to roll it over and you do have to be able to afford it in terms of the interest rate. And then you got to worry about the dollar also. So the question is, what makes it sustainable? Well, the answer is the world's looking at 100 and about 125% debt to GDP ratio right now. I feel a little bit higher than that, but it's about 125% if it just starts going down. And that's what the best plan would do. 121 15.

[Steve Bannon]

The whole. Hang on, hang on. I want to make sure people understand the math here. Your reason is the denominator. You're going to grow at 3, 3.5% and so you're going to grow the economy so therefore your GDP will be higher and the debt, because we're never going to pay off a penny the face amount of the debt. We're barely going to struggle to pay the interest. You agree? Okay, folks, understand this, this is where and this gets to also the theory. You know, Ray Dalio said, hey, we're about 7% of deficit to GDP. We got to get down to 3. Scott says at 6 and a half. We got to get to 3 and a half because you got to get these deficits under a trillion dollars because that keeps building the face amount of the debt to 37 and 38 and 39 and 40. And right now, Jim, you would agree there's nothing. And this is why I think Howard Lyon has got to stop talking loosely and elon about the trillion dollars we're going to find from waste foreign abuse. It's just not going to happen. If you get a couple hundred billion dollars, trust me, that is like water to somebody in a desert right now we need that because you're going to have to have the programmatic cuts and that's what's, you know, we agree to the cr it looks like the Democrats are going to fold. So we'll get to this this summer. But, but if that doesn't happen, the125 let people know.125 is. I think Roubini wrote that book. This time it's completely different. No country's ever come back. Am I correct Jim Rickards? At that percentage of total face amount of debt to GDP at 125, you're essentially on, on the glide slope indicator to your financial destruction, sir.

[Jim Rickards]

Correct. We're at the same lunch table as Lebanon, Greece and a couple other countries. That's where we are. But I've had a lot of head on head debates with Roubini. Here's what he may be missing there. He's generally right that it never ends well. But the question is how does it end? The usual way is default. But the reason for that is countries have a local currency but they borrow in dollars. If you're, if your debt is in a currency that you don't print, you can't pay it off. That's Argentina. You can set your watch by it. Every 10 years they default. The other one is hyperinflation. Which is, yeah, I owe, you know, 136 trillion or whatever. But here's, you know, good luck buying a loaf of bread. It's not worth anything. So that's Weimar and National China and a few other cases. What's different about the United States is we, our debt is in a currency we can print. We can actually print those dollars. So as far I disagree with Dalio and others, there's no reason for the US Ever to default because we can actually print the money. The question is, what are the consequences of that? And obviously they're all bad. But, but Besson has pointed the way out and you said 3% growth. You write that, but that's, that's 3% real growth. But you have to tack on two points of inflation or maybe three. So you're going to get 5 or 6% nominal growth. Real growth matters. That's how we get jobs.

[Steve Bannon]

And that's not going to happen. That's not going to happen. That's not going to happen. That's what I keep telling him. I said, hey, this is why you're going to have to, you're going to have to have some tax increases. Do you honestly think, as you see it right now, because if you take the federal spending out, we've been in negative growth, Am I wrong? If you take out the massive federal spending the last couple of years, this Keynesian shock, haven't we been kind of negative real growth the last couple years? It ain't growing. Dude, you and I saw this business model. You would charge them so much, you would charge them so much to finance this because it's not financeable right now unless you've got a printing machine that just keeps printing. And the rest of the world's gonna suck on if the purchasing power of the dollar goes down 20% like under Biden, hey, it goes down 20%. You guys gotta suck on it. That's the whole BRICS nation saying, well, yo, maybe we don't have to suck on. We don't have a solution now, and maybe we don't have a solution in five years, but we're gonna come up with. Because we're just not going to take you guys essentially screwing us every day. I mean, isn't that, isn't that the theory of the case here?

[Jim Rickards]

Well, you're exactly right, Steve. That's the model. But you have to be like Captain Kirk, change the model. In other words, the key statistic is debt to GDP. You throw at 36,125,%. Those are all big Numbers, they're scary numbers. They don't matter. What matters is debt to gdp, because debt is what you owe. GDP is how you pay it back or how you roll it over. So that's the key metric. Now there's a, there's a, what physicists call a critical threshold. 90% debt to GDP, that's where the Keynesian multiplier goes negative. So below, below 90%, you borrow a dollar, you spend a dollar, you get a $25 of GDP or you get a $10 or whatever, but it keeps going down. 90% is where you borrow a dollar, you spend a dollar, and you get 90 cents. You don't even get your dollar back. In terms of GDP, we're well past that. The only reason the economy was chugging along at all under Biden was because the deficits were so large. You get some growth out of it, but you don't get as much as you're borrowing. And therefore the debt to GDP ratio goes up. So that's the thing you have to wrestle to the ground. You got to get the debt to GDP ratio to go down. Now the debt's not going down at all, but gdp. The simple question, Steve, can GDP grow faster than the debt? That's the only issue. And if it does, that ratio's going down and you're getting healthier. That's what Besson's trying to do.

[Steve Bannon]

You've got a chance. You get it. You're getting. The patient's getting healthy. That's why I keep saying this is a supply side cut. This is our last shot to do it. It's that part of the formula right there. Hey, Jim, where do people. Okay, rickardswarroom.com you got strategic intelligence. Give me 30 seconds on why people love coming out. Why Strategic Intelligence. Why should people sign up and get that every month?

[Jim Rickards]

But we've been publishing this for a long time, Steve. We were, we called, we called Brexit in advance. We called Trump in 2016. We stuck the landing in terms of electoral votes in 2024. So our track record of being not just kind of with the news, but ahead of the news is very good. And our next issue coming out in early April is going to be on what I call lawfare 2.0, what we just talked about. So it's at rickardswarroom.com, rickardswarroom.com you can subscribe to the newsletter Strategic Intelligence, but you get a free copy of my new book, Money GPT, which basically talks about the role of artificial intelligence and GPT which is a subset of artificial intelligence on the stock markets, the banking system and also nuclear war fighting. And by the way, look at this. Since the book came out in November, what's happened since November? Stock market's down 10%. So there's a warning on that in the book.

[Steve Bannon]

Jim Rickards, social media. What's your social media brother?

[Jim Rickards]

Eel? Jim Rickards on Twitter. That's my, it's my main channel at Real Jim Records.

[Steve Bannon]

Jim, love having you on here. Audience does too. You're a very wise man, sir. Thank you. Had some heavyweights on today. John Yu and Jim Rickards back to back. Come on, man. Two very special guests are about to join us after the break. They're coming after them in a quite violent way. Many of many of the people in the MAGA movement now under assault by, I don't know, quite disturbing forces. Short break, back in a moment. How well do you sleep at night? Real peace of mind comes from knowing your family is prepared for anything. My Patriot supply, America's most trusted name in emergency preparedness is offering a time limited discount on the best selling three month emergency food kit. Now this is the basic the three month emergency food kit. This isn't your typical survival food. Each kit provides over 2000 calories and 100% of the recommended value of 12 essential vitamins and minerals. Daily. Daily for 90 days with delicious meals and extras including chicken, beef, fruits and veggies. We're talking quality meals that last up to 25 years in storage and still taste like home cooked. The pandemic taught us how quickly store shelves can empty. Don't wait for the next crisis. Your three month emergency food kit includes free shipping, a disaster replacement warranty and 24.7us based customer support. This special discount is available for a limited time only. Visit my patriotsupply.com now to secure your family's future with a hundred dollar discount. If you order by 3pm they'll ship your order within the same day so you have peace of mind right away. Get my Patriotsupply.com by going to my Patriotsupply.com do it. Do it today. Use your agency. Action. Action.

[Stephen K. Bannon]

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[Steve Bannon]

Okay. President is going to sign executive orders. At 1. He's going to go to the Justice Department and you just heard John Yu sketch out for him what he should say and that was kind of a throwdown. He's going to go justice. At three we're going to be back. We're going to have John Lechner with the new book that you guys love so much and bought so much of the death is our business about the Russian mercenaries. He's going to be on day. Talk about Putin. Natalie's gonna be from the White House. Ed Dowd's gonna be here. Talk about econometric model he's put together 2025. We're gonna be slammed from five to seven. Much, much more. Schumer just went to the floor of the Senate and gave more rationale because he's getting lit right now on his decision to surrender. But Cash Patel, most importantly. Oh by the way, Tulsi's just announced put a press release she's going to formal inquiry and a potential prosecution on that. There it is right there on that. Remember the perverted we had Colonel John Mills, which we'll try to get Mills on today. That perverted chat room they had over at the Intelligence Committee over at dni, including people from nsa, CIA, others. The pervert channel investigation, potential prosecutions. So much more today, another day of full action. Days of thunder are with us. Cash Patel, one of our former co hosts here, now director of the FBI put out, I think of everything Cash has put as FBI directed, this is the most serious. He put a lot of smart tough stuff out. I want to address the alarming rise in swatting incidents targeting media figures. The FBI is aware of this dangerous trend and my team and I are already taking action to investigate and hold those responsible. This isn't about politics. Weaponizing law enforcement against any American is not only morally rehensible but also endangers lives, including those of our officers. That will not be tolerated. We are fully committed to working with local law enforcement to crack down on these crimes. More updates to come. I want to bring on now one of the, one of the toughest hombres in our MAGA movement and one of the best voices out there, Joe Pags. Joe, you have been swatted. Talk to me about what went on. This is incredibly dangerous. Cash is on this. I know. For talking to people behind the scenes, they are all over this because this puts two people in jeopardy, two groups in jeopardy. Number one, you and your family, who they basically want cops to assassinate, and also the cops. So walk us through what happened with you, Joe Pax.

[Stephen K. Bannon]

About 2:30 in the morning two nights ago, Steve. And man, great job that you do here in the war room. I love being on Today. I'm sitting in my office. I don't go to bed till 5 or 5:30, which is lucky because this happened about 2:30, 2:35. And I've got one of those cameras out the front door that'll give you an indication if somebody's there. And I thought there was a bug on the camera. That'll happen every once in a while. Maybe the dogs had to go out. My wife woke up in the middle of the night, whatever. And that wasn't it. I went to the camera and it shows you the video that just happened. And there's a dude with it with a cap on. I can't tell if it's a cop or not because now it's night vision. It's very dark out. During the day it's a color camera, but at night it's night vision. And there's a guy with a long gun, he's got a rifle, AR15 type, something like that. I've got one, it looks like an AR15. And I'm like, there's a dude at my front door with an AR15. He's got a cap on. He looks nervous as hell, Steve. He's looking around, you know, I'm like, what's going on? So I had to think to myself in about, about a second, what do I do? Do I grab my ar, go out? Then I'd be dead in my doorway. Do I grab my, my, my pistol, conceal it, walk out, yell, who are you? Do I call 91 1, which I ended up doing. I called 911, got the county sheriff. I said, I need to know. There's my address. This is who I am. Is there somebody at my house right now? She said, yes, sir, there is. There's this. We got a call. Two dogs were shot dead, Family is hiding in the basement. I said, we're in Texas. We don't have basements here. So listen, here's who I am. You probably know who I. Yes, yes, sir, we do. Public figure this is probably a swatting. Tell the guy to put the gun down. Not down, like take it off and just point the muzzle down. I'll come out with my hands up. Let's clear this up right now. There is no distress, no peril at my house. This is some bad guy hoping that I'll be killed by you guys. This is. This is, as you said, Steve, assassination by cop, if they can do it. And it was scared. Listen, I've got adrenaline in what we do every day, but I've never had adrenaline like this that I felt that night. And thank God these are good guys and gals. The police in this area are amazing. And where I live in Texas, and we were able to diffuse it pretty quickly. But, Steve, I walked out. And when I walked out of my studio, well, my production studio there was in my backyard. I can see a bunch of flashlights. It ended up seven county sheriffs or sheriff's deputies were at my house, surrounding the house. Had I done something differently, we probably wouldn't be talking today.

[Steve Bannon]

No, this is the point. I talked to MTG. We've been swatted a bunch of times in D.C. in our headquarters. I talked to MTG. She had the long gun right by her bed. She picked it up at first to walk to the door. If she had gone to the door, she would have been dead. If you had gone outside, you know, and they'd seen your weapon at all, you were a dead man. That's what they want. This is not fooling around. They want the police to shoot you and to assassinate you, sir. Is that clear?

[Stephen K. Bannon]

Without any doubt, what you just said is true. This wasn't to scare me. This wasn't to say, hey, stop talking about Zelensky the way that you do. Hey, stop taking the right side or supporting Trump. This was, we want the guy dead. We'd like to kill him. And it's twofold for them, the bad guys, Steve, think about it. If I'm dead in my doorway, they get my voice off the air, they get my face off the tv, and the bad guy's the cop who killed me. So, I mean, this is twofold for them. They can. Look, let's see. We should get rid of the police, reform the entire. Can't believe they killed this innocent guy at his house. And look, quietly, we got his voice out of here. This is not child's play. This is some kid calling it a bomb scare at High school, trying to get a day off of school. This is somebody wanting to take out media people that they don't agree with.

[Steve Bannon]

This is. I mean, this is. Well, we got swatted a couple of years ago and there was kind of random. This is a well thought through. They're trying to go after the. They're going after the toughest hombres, the guys who are unrelenting and what they hope, because you can see the type, they're going after that you take a couple of guys out before you're assassinated, right? And then they have a huge brouhaha that law enforcement. And then your voice is off. A couple of police officers are killed and you're assassinated. It's a win, win, win for those. And this is why, until Cash got there, because I know we've had to deal with this system before. It's never been seriously investigated or prosecuted. And that's what I'm hoping. Now with Cash, what would be your recommendation? One, to your other media figures out there, Number two, to the police officers in these different regions. And then to Cash Patel, what would be your guidance?

[Stephen K. Bannon]

Well, I hit Cash immediately. He's a friend, just like he is of yours. And I'm glad he put something out today. Said Cash, this just happened, please. And he just wrote me back, one word. He said copy like I got it. And then today he put up that notification. The advice I would give is I live in a pretty big area of Texas. I live in the San Antonio area just north of. And the county sheriff was up on what swatting was, but the people under him weren't necessarily. I've now educated all the dispatchers, given to my cell phone number. This is who I am. If you get a call to my house, you call me first. Let's defuse this right away. If you're in the media and you see something like this, go down a. If you don't have a camera outside your house, get one and get several. Because, Steve, they would have broken in the door had I not had. Had the camera and had it not called them immediately, I would have had people coming in from the backside and from the front side. And you're right, there would have been a shootout and it would have unfolded like you said. So my advice is to get with your local police, whether it's a. A police department, talk to the chief, talk to the captain, talk to somebody. If it's the sheriff's department, get the actual sheriff if you can. If not, get somebody who's in charge, somebody who can make Decisions and make sure they understand this is going on. I'm one of. What is it now? 9, 10, 12, 15. I know I was one of the first two or three that they did this to, but this is, without a doubt, like you said, a coordinated effort to take people like me out. And we have to be working in conjunction with law enforcement, make them aware, because the dispatchers weren't aware. When I said, I think I'm being swatted, she said, I don't know what you mean. So I had to explain what it was. And I think that they're now abreast of it. There's a mechanism in place if they try it with me again, but that would be the advice. They want us to turn against each other and they want voices like yours and mine shut down. It's not going to work.

[Steve Bannon]

They also hope you kind of moderate. No, it ain't going to happen. You got Pags. I say, tough hombre Pags. Where do people get your show? Where they go to get you on social Media, brother?

[Stephen K. Bannon]

Yeah. JoePags.com it's either Joe Talk show on all the social media and I'm verified, or it's Joe Pags. J O E P A G S. And we're live 6 to 9pm Monday through Friday.

[Steve Bannon]

Steve, one of the original gangsters, an og, Joe Peggs. Thank you for joining us. And go with. Go with God, man. Tough guy right there. Another one of the most prominent voices, Sean Farish. Sean's joining us by phone. I'll play later the clip I think he and his wife put up. Sean, they have the clip. Let's play the clip.

[Sean Farish]

Hey, guys, it's Sean. My wife Brennan and I just wanted to give you guys an update. We did just get swatted here in Tennessee. The officer said they received a phone call that, that somebody murdered somebody in the house and was planning a suicide by copying. So I received the call with that information. We cooperated with police. They were very nice.

[Steve Bannon]

They were actually very nice.

[Sean Farish]

Very, very nice. They were not aware that this was going on across the country. Was that, you know, what. How did you feel about that? What was. What was going through your head when you saw officers in the backyard with. With guns?

[Stephen K. Bannon]

I was shaking.

[Steve Bannon]

I was terrified.

[Stephen K. Bannon]

I was the only one awake.

[Steve Bannon]

He was asleep.

[Sean Farish]

Yeah.

[Steve Bannon]

And they were just pointing their guns into the house.

[Stephen K. Bannon]

And it's.

[Steve Bannon]

I. I was very scared.

[Sean Farish]

That's it. And that's the point. And that's what these people are trying to do. They are trying to silence folks who are not afraid to speak their mind online. And you've seen it happen to so many other people across the country. We are going to do what we can from Tennessee to try and get to the bottom of who's responsible for it. I'd like to see the Justice Department.

[Steve Bannon]

Cash Patel. That's Sean. And then we'll play. I'll put that up online. Sean is. Sean Farris joins us now by phone. Sean, Cash Patel just put out a tweet from the FBI. Say he's all over this. Many people have talked to him behind the scenes. He says he's got a team on this. They're talking to law enforcement. They're going to get to the bottom of investigating this. We got you by phone. I'm going to hold you to the break. So tell us what happened. What exactly happened to you and your wife?

[Sean Farish]

Well, Steve, first, thanks. Thank you so much for allowing me to tell the story here and raise awareness about this, because it could have been a lot worse and it could have been as bad as we've seen with some the J6ers who were ripped from their homes. Thankfully, that's not what happened. I had fallen asleep. I was on the couch. We had a long day yesterday. My wife woke me up and told me that there were cops in our yard with guns. I knew that this was going on to other prominent voices in the movement. I saw it all over the Internet. So I sat straight up and I said to her, okay, we're being swatted. And she didn't know what that meant, you know, or she thought, worst case scenario, we were going to have our house raided. But, you know, we said, let's sit down and let's wait for instruction. So the cops positioned themselves outside. And then I got a phone call from the deputies outside the home. And they told me what they received. You know, the call that they received that two people were shot in the house and that. That I was planning on committing suicide by cop. And if they came into the home, I said, that's not true. It's my. Myself, my wife. We have three cats we rescued. And we walked out. We complied with their orders. Everything was very calm. The officers that were here handled it very nicely. They were professional, they were kind. But they did not know that this was a national trend that was emerging. And I made them aware of that. Just before we came on here, they called and wanted some additional information. I'm going to be reaching back out to them shortly. But about five minutes before we connected here, another mysterious domino's order Pizza Order showed up at the house that I didn't order. So whoever is doing it is also apparently ordering food. They got the order wrong. So, you know, I sent it back. But no, it's. Whoever's at it is still at it. And we want them to be brought to justice and we want to say safe.

[Steve Bannon]

Sean, hang on for a second. We're going to take a short commercial break. And Sean, I will tell you, those pizza orders are dangerous. You don't know what they're gonna show up with or who's gonna show up or how they're scouting your house. So short commercial break. Sean Farris, another one of the prominent voices in the movement under attack. Be back in a moment. We rejoice when there's no more. Let's take down the ccp. 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. Rickards War Room Rickards with an S. Go now and claim your free book. That's rickardswarroom.com do it today.

[Stephen K. Bannon]

Here's your host, Stephen K. Ban.

[Steve Bannon]

Sean, is there any doubt in your mind that whoever did this and cash is committed to get to the bottom of it, wanted to essentially have you and your wife assassinated by cop?

[Sean Farish]

Sir, there's that, that's something that we've been thinking about that they were hoping somebody made a mistake and that was the, that that was the outcome? Yeah, I would say that's definitely been something we've been talking about, her and I together.

[Steve Bannon]

I mean, you're a comedian or at least your, your, your impersonation of the president is, bar none, the best. But you also in that have so much powerful. It has so much powerful social commentary in it. Does it shock you that the radicals on the left want to basically have assassinated a husband and wife of a guy that is a comedian, but does it with social commentary? Does that strike you as odd?

[Sean Farish]

No, that strikes me as par for the course with this group, unfortunately. I mean, we've had a long history with them. When I lived in New York, I actually joined your show years ago from the Beth Page usps. We yelled protest for Jesse Morgan. And we took plenty of heat back then when we were activists in New York, as before I'd met my wife. But we. We wound up, you know, rolling with the punches then, and we're going to roll with them now. I mean, if they think that, that they reach somebody who's going to be. They think that they reach somebody who's going to stay silent, they came to the wrong house, period, is the end of the story there. So they're not going to win. We will. They're not going to win. Their tactics are cheap, and intimidation is not going to work on us. I'm a New Yorker. We don't. We don't back down.

[Steve Bannon]

So you're not going to. You're not going to back down. You're not going to ease up, you're not going to take your foot off the gas because you come on, you come on. You're. You come on kind of strong sometime. You're not going to back off on this.

[Sean Farish]

No, there's not a chance. No. You know, like I said, I grew up in New York. My mom's from Brooklyn. She's Italian. We have it in our blood to just be. Someone tells me not to do something, and I'm going to do it twice as loud. So now I live in Tennessee, and again, the whole idea is that someone tells me not to do something, I'm going to do it twice as loud and they're going to regret it.

[Steve Bannon]

We know they're still coming after you with these Domino. There'll be other stuff like that. So you realize that you're not off the hook yet.

[Sean Farish]

Oh, yeah. I mean, if they're, if they're. Can I keep doing that? You know, my wife said, there's a car in the driveway. I said, is it a cop car? She said, no, it's a white car. And the guy come out, the Domino's guy. So, you know, I'm expecting it to continue for a while. We know how to handle it. We'll have a good relationship with the sheriffs. That's our silver lining.

[Steve Bannon]

Sean, what Is your social media. How can people find out more about you? The few that don't know and where do they go to find out? Get more your content.

[Sean Farish]

So we stream Mondays through Fridays on Rumble. It's rumble.com lfatv my social media. My X is at Shawwn Underscore Far Ash. We post links there. We have a lot of fun there and we appreciate everybody's support, everybody who checked in. And Steve, thank you so much for allowing me the time to tell the story.

[Steve Bannon]

No, it's when I saw, I saw the video. We'll play that this afternoon. On this afternoon show. It's and your wife is great too. Tough hombres. And that's what we need. What they're trying to do is intimidate this movement. They know we're winning right now. They're trying to take out the media part of this. The folks at the tip of the spear and what I'm telling them, they can't intimidate these folks. Can't intimidate guys like you and Joe Pegs. Sean, honored to have you on here. Fight on, sir.

[Sean Farish]

Thank you so much. You too. Thank you.

[Steve Bannon]

Let's everybody pile into his social media. Let's get his show. Let's do it all show some support on this. This is very I can tell you in the we had a couple of swattings back to back in D.C. a couple of years ago and they were very, very, very dangerous. They want assassination by cop. They also want you to take out a couple of cops. So it's dangerous for the law enforcement. That's what cash is saying. And it's dangerous for obviously dangerous for the individual. And you can see they're going after kind of the tip of the spear. They're going to come after you, too. They are not going to give up control of this country. You see this right now. You see with President Trump, look what John Yoo and Mike Davis sitting right there telling you, go back to the constitutional order. People have talked about this for decades. You've heard about this. We got to go back to the Constitution. We have to get rid of the Department of Education. We have to, you know, get the Justice Department to actually report to the office of the president. You've heard this talk and talk and talk. Trump is action, action, action, action this day, a sense of urgency. What did the great John Yoo say that Hamilton, one of the greatest of the founders, revolutionary generation and founders just didn't fight the war but actually create both destroyed the British Empire's hold on us and then was there to create something new that the, that the executive should move with dispatch in energy. Is that Trump on dispatching energy? And look how they're trying to. Look how they're trying to stop him every way. And the people that promulgate that, because it's information warfare, you know that. We know that. And what are they trying to do? They're trying to take out that, that, that group of kind of field officers in the information war. And look what happened. I'm still not, I still can't make head. I can't, I can't make out this. Alex Jones, his producer. There's something just odd there. And of course, Alex is on with, with General Flynn. And it said, hey, they got information and Mike Flynn's as dialed in as you can get. And Alex ain't too shabby that there's hits out on. Like there's a hit out on Alex, right? And what did Joe Pagg say right there? He says, hey, I'm on Zelensky every day. And Alex Jones. I'm just repeating what Alex was saying. He's saying, hey, because of my Ukraine situation, you're not. You got to be all in on this. You have to be able to. You have to be willing to go to prison, you have to be willing to be assassinated. You have to be willing to give it all or you're going to lose your country. This was President Trump. Could he have been more all in? He's all in. Today. We needed the ramparts. Hometitle lock.com Steve 25 $1,000,000 triple lock protection. 24. 7. They're watching your title 24. 7. 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[John Yoo]

Synthetic vitamin in general.

[Steve Bannon]

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