Episode 4358: Cutting The Actual Meat Of The Budget; More Commerce Less Media

Summary

Episode Summary: Bannon’s War Room – Episode 4358: Cutting The Actual Meat Of The Budget; More Commerce Less Media

Release Date: March 22, 2025

In Episode 4358 of Bannon’s War Room, hosted by WarRoom.org, Stephen K. Bannon delves deep into the pressing issues facing the United States’ budgetary framework, the interplay between commerce and media, and the broader economic landscape shaped by government spending and fiscal policies. The episode features insightful discussions with political strategists, economic experts, and industry leaders, providing listeners with a comprehensive analysis of the current state of American governance and economy.

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1. Cutting the Budget and Revoking Security Clearances

The episode opens with a stark declaration by Steve Bannon, emphasizing the urgency of dismantling what he describes as a "dying regime." At [00:02], Bannon states:

"This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people."

Taj Gill, a recurring guest, elaborates on the implications of President Trump’s recent actions regarding national security. At [00:33], he underscores the determination to save the country:

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

The discussion intensifies as they address the judicial challenges faced by the Trump administration. Taj Gill highlights the revocation of security clearances for several high-profile figures, including Hillary Clinton and various Biden family members. At [06:44], Gill remarks:

"Sir, I think it's long overdue."

This segment underscores the administration's strategy to decimate opposition through legislative and executive actions, aiming to restore what they perceive as rightful governance.

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2. Judicial Coup and the Fight Against Established Order

Stephen Bannon discusses the broader implications of the judicial insurrection, referring to it as a "judicial coup" that necessitates immediate and decisive action. He connects this to the personal efforts of Taj Gill, who has a military background and has actively participated in security measures. Bannon reflects on Gill’s contributions, including his involvement in combating the Benghazi situation and his creative endeavors like the movie "Last 600 Meters," which portrays the valor of military personnel in extreme combat scenarios.

At [10:09], Bannon emphasizes the strategic importance of targeting key figures:

"We need to clear this rat's nest out. This massive victory of the law firm. They're cowards. They will crumble."

This section highlights the ongoing battle against entrenched political figures and the measures being taken to dismantle their influence.

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3. Commerce Over Media: Redirecting Focus for Economic Stability

A significant portion of the episode is dedicated to criticizing the current focus of government agencies, particularly the Department of Commerce. Bannon asserts that the Secretary of Commerce should prioritize economic activities over media engagements. At [18:51], he bluntly states:

"More commerce, less media. His discussions of Social Security are not helpful."

Taj Gill echoes this sentiment, advocating for a shift towards policies that bolster commerce and reduce unnecessary government spending. The discussion points to the need for impoundments and spending cuts to achieve meaningful economic growth, emphasizing that without these measures, the nation cannot sustain long-term fiscal health.

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4. Federal Reserve’s Economic Projections: A Grim Outlook

The conversation transitions to the Federal Reserve’s recent economic forecasts, which project a GDP growth of merely 1.7% for the current year. Bannon expresses concern over these projections, attributing them to excessive government spending and deficits. He critiques the Federal Reserve's modeling and questions the viability of the United States' economic system under such growth rates.

At [30:53], Taj Gill articulates the disparity between government projections and real-world economic indicators:

"The system we have at 1.7% growth. And you take out government spending, that's a recession in the real world."

Philip Patrick from Birch Gold joins the discussion, reinforcing the notion that the current economic model is unsustainable. He emphasizes the critical need for policy reforms to curb spending and stimulate genuine economic growth.

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5. Economic Growth, Deficits, and the Path Forward

Bannon and his guests delve deeper into the implications of low economic growth coupled with high deficits. They argue that without significant cuts to government spending, the nation is poised for a financial crisis. Bannon outlines a multi-step plan to address these issues, which includes revoking pensions, prohibiting government work that doesn’t require security clearances, and initiating formal investigations into waste and abuse within government departments.

At [38:18], Bannon passionately warns:

"We have $300 trillion now of face amount of debt at every level. Are we not heading for the world's biggest margin call?"

Philip Patrick concurs, highlighting the unsustainable nature of current debt levels and the necessity for strategic economic interventions to avert impending financial turmoil.

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6. Precious Metals and Gold Investment: A Hedge Against Economic Turbulence

A significant highlight of the episode is the discussion on the rising trend of gold investments. Philip Patrick from Birch Gold explains why gold prices have surged, attributing it to central banks' increasing purchases as a safeguard against the declining strength of the US dollar.

At [40:23], Patrick elaborates:

"By buying gold, central banks around the world are achieving two things... it's giving them the stability that they need for an international currency."

He further warns about the dangers of a weakened dollar and the potential loss of its status as the global reserve currency, making gold an essential asset for safeguarding wealth.

Bannon reinforces this point, urging listeners to consider gold as a reliable investment:

"Our point is not the price, it's what's driving the price. That's what you have to understand."

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7. Natalism Conference: Addressing Population Decline

Towards the end of the episode, Taj Gill introduces an upcoming conference focused on natalism—the promotion of population growth. He highlights the economic and societal challenges posed by declining birth rates, emphasizing that population growth is a critical driver of economic stability alongside technological advancements.

At [25:46], Gill provides details:

"It's natalism.org and we're offering promo code War Room 50 for 50% off the ticket. It's a big discount."

The conference aims to explore policy solutions and strategies to encourage population growth, ensuring sustained economic development and societal well-being.

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Conclusion: Navigating Through Fiscal Challenges

Episode 4358 of Bannon’s War Room presents a fervent critique of current government policies, advocating for significant budget cuts, reduced government spending, and a strategic shift towards commerce to stabilize and grow the economy. The discussions underscore the urgency of addressing fiscal deficits, the shifting dynamics of global reserve currencies, and the importance of investing in safe-haven assets like gold. Through passionate dialogue and expert insights, the episode provides listeners with a comprehensive understanding of the challenges and potential solutions facing the United States today.

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Notable Quotes:

• Steve Bannon [00:02]: "This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people."

• Taj Gill [00:33]: "Ask yourself, what is my task and what is my purpose? If that answer is to save my country, this country will be saved."

• Taj Gill [06:44]: "Sir, I think it's long overdue."

• Steve Bannon [18:51]: "More commerce, less media. His discussions of Social Security are not helpful."

• Taj Gill [30:53]: "The system we have at 1.7% growth. And you take out government spending, that's a recession in the real world."

• Steve Bannon [38:18]: "We have $300 trillion now of face amount of debt at every level. Are we not heading for the world's biggest margin call?"

• Philip Patrick [40:23]: "By buying gold, central banks around the world are achieving two things... it's giving them the stability that they need for an international currency."

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This episode provides a compelling narrative on the intersecting issues of budgetary reforms, economic stability, and strategic investments, positioning listeners to comprehend and engage with the ongoing political and economic battles shaping the nation.

Transcript

[Steve Bannon]

This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people.

[Taj Gill]

Reasons I got a free shot on all these networks lying about the people. The people have had a belly full of it.

[Steve Bannon]

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

[Taj Gill]

In the world to stop that, but.

[Steve Bannon]

You'Re not going to stop it.

[Taj Gill]

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.

[Steve Bannon]

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

[Taj Gill]

WAR ROOM here's your host, Stephen K. Ban. It's Saturday, the 22nd of March. Your Lord 2025. The fight continues on all fronts for President Trump. And yes, you're not tired of winning yet, but there's some huge, huge, massive victories. There's also, you know, let's be honest, this judicial insurrection, judicial coup has got to be dealt with. One thing that's happened is President Trump last night, yesterday revoked the security clearances of Anthony Blinken, Jake Sullivan, Lisa Monaco, that demon. Lisa Monaco, that demon. At the at Justice Department, Mark Zaid, Norm Ison, Letitia James, Alvin Bragg, Andrew Weissman, Hillary Clinton, Elizabeth Cheney, Kamala Harris, Adam Kinzinger, Fiona Hill, Alexander Vindman, Joseph Biden Jr. And any other members of Joseph R. Biden Jr's family. He revoked the security clearance of Biden, all of them. I've got a list of what has to happen since that. I'm gonna put it up in a second. Taj Gill I need today or first off, Taj, since you put your life on the line with, I don't know, 12, 14 deployments in combat zones in bad neighborhoods. When you see President Trump taking action like revoking security clearances for Hillary Clinton and people should know that Taj, he's now the head of, I think the finest coffee company out there. And I'm an aficionado of coffee, particularly well made coffee and particularly the tougher ones you gotta make, which is the dark roast. Cause this is the finest ever. And people know I'm a dark roast fanatic. But you got into actually doing this, coming out the seals and being a contractor or gunman as we call it, and then running security for me for a couple of years and others you started because you got so upset and so incensed by the Benghazi situation that you guys started T shirts and hoodies and stuff as as to. To make a point about Hillary Clinton, right. And how the established order didn't care about. They just, they, they, they. They didn't care about the casualties, they didn't care about the deaths. They didn't care about. They would put people in harm's way and not think twice about it and then not do anything to have people's back. That's what got the fighting men and women in this country, I think, started to turn on this interventionist mentality. You got greater young patriots today than you've ever had. I made this movie with the great Michael Pack called the last 600 meters. And it was about Fallujah. First Fallujah, Najaf, and second Fallujah in second Fallujah, first Fallujah and Najaf were bad. I mean, really bad. Second Fallujah is about as bad a fight as the Marine Corps and Special Forces have ever had. And we took this. We were screening it for certain groups, and we screened it for a group of Force Recon marines, World War II veterans from Peleliu, Tarawa. I mean, the killing fields. These were fights in amphibious assaults as bad or worse than Omaha beach. Okay? I mean, this is. These are killing zones. The Force Recon Marines are the ones that go in first. And we showed last 600 meters. And last 600 meters basically has guys like Taej Gho kicking down 200,000 doors in Fallujah after every bad element in the world, the Chechnyans, all the bad guys in the world have gotten there. And it is a film that's, I don't know, an hour and 90 minutes, two hours. It's nothing but bravery the entire time. But you see, at the highest command level, not the military command, but the civilian command, it's just. They're in, they're out, they can't focus. It's terrible. So we showed it in this screening out there. To these folks, the bravest of the brave, the greatest generation's greatest. The Marines at Tarawa, the Marines at Peleliu, the Marines at Saipan. And this is the leader of the elite. And afterwards, some little. Cause these guys are in the 80s and 90s. By that time, they turn to, like, Michael Pack and say, I can't believe the bravery of these young people. And you sit there and go, well, hang on, sir. You're the greatest generation's greatest. You're the tip of the tip of the spear for the greatest generation. And they say, no, no, no, you don't understand. We were 17, 18, 19 years old. And we were told, you hit the beach and you're going to clear cut. Everything in front of you is dead. You're going to just clear cut it. And they're not going to move back one inch. And there's no human thing of kicking down a door and worrying about the children running around or using the children as human shields of the wives. He goes, I don't know if I can handle that. I don't know if I can handle the mental stress. And when you sit there and you talk to Pac and you see what the result of these. And then guys from Vietnam, people saying, hey, hey, you know, the orders back then were very different. And then you see what you guys went through and what these people went through, you realize, and then this is why it's so powerful. He cut the security clearances off these people. And this is just the start. Because remember when you cut their security clearances off, they can't make, they can't dying off the, off the. They can't live like they used to live because they monetize these security clearances to be big shots and get all these big contracts. Taj Giro, your thoughts about finally you're getting the comeuppance on Hillary Clinton. She had her security clearance stripped of her last night by the commander in chief of the United States, President Trump.

Sir, I think it's long overdue, Steve.

[Mike Lindell]

Yeah.

[Taj Gill]

Talking about Benghazi. She's the reason that Benghazi happened. Obama didn't send in reinforcements when Benghazi happened, but it would have never happened if she wasn't the Secretary of State. There was over 600 requests for security upgrades on, in the Benghazi, the Benghazi State Department compound. So if those security requests would have been answered and the security would have been upgraded at that compound in Benghazi, then that compound would have never been overran. They had no cameras, the gates were unlocked. The security guys didn't have their body armor and weapons on them and they had a bunch of ragtag Libyans guarding it. And there was no Marines there. When I can go on and on, but it was a disaster waiting to happen. And it was because she denied the security upgrades, because she didn't want to put a threatening American posture in that town. The Red Cross and all the other countries had already pulled out. So I think it's long overdue that she had her clearance pulled. She doesn't need it anymore. She's not part of our government anymore. You know, if the administration down the line brings her back, she's Part reinsurance. She's part of her security clearance, but she doesn't need it.

But she started the. She's part of the permanent government. That's why I'm so glad it was stripped of her and the others. You went and started doing the T shirts and now you're doing the coffee. Tell me I need a cup. I need a cup of coffee. I need straight. And here's the beauty of the coffee. You don't need cream and sugar. This guy has worked for years to get the right beans, the right process, to do the process in a correct way. It's not mass produced. This is. This is craft. This is like a craft. This is like a craft beer, right? You guys do this as a art and a science. It's a craft beer. It's the champagne of coffee. You can only drink this black. Don't cut it with milk and sugar. You're not going to get the full taste and flavor of it. Taj, how do you do it? Yeah, you got.

You go to Warpath Coffee. That's the website. That's where you can buy it. And you're right, it is like a craft beer or champagne of coffee. We perfectly roast it. We don't burn it at all. So you can drink it just straight black. You don't need milk and sugar to hide the taste of the burnt beans. So our coffee, we roast it on a perforated drum. It's perfectly roasted and it is amazing. I haven't checked the last couple days, but it was somewhere around 7,500 five star reviews. And it's constantly growing and we sell tons of this stuff. Like we can't roast the coffee fast enough. People love it. And you can drink it straight black. It's healthier that way. So for the War Room Posse, we have a promo code. War room. And that gets you 20% off. And the website is Warpath Coffee. We do 20% off for the war room posse because the war room posse supports us. So we support them. The promo code is War room and the website is Warpath Coffee. You gotta try it. It's the best coffee. We got tons of blends, we got ground whole bean, we got two pound bags, 12 ounce bags, we got K cups, we got espresso. And it is all on par. You have to try it.

Here's the thing you got to do is read the reviews. Don't take it from taste, don't take it from us. Just go to the site, look at all the different nuts products. But how the whole process is laid Out. Read the reviews of. Cause these are your compadres. These are the guys that watch the show and go on. And 7,500 and growing hundreds like feels like every week. It's just incredible. Tej, one more time. Where do people go? Because it's a Saturday and the show's been. The show's all week. There's no let up. There's not. I would love to talk about something light, but there's nothing. I mean, when you're in this audience and this movement. We're in the middle of this fight now, right? You got to keep fighting every day. So where do people go to get a good hot cup of coffee?

Warpath coffee is the website and use promo code. War room. You get 20 off your order and that's for the war room posse. So Warpath coffee promo code. War room. You gotta try it. It's the best coffee. Stay in the fight. Keep watching the war room. And keep voting for maga. Politicians. That's how we win.

Maga. Maga. Maga. Love you, brother.

Thank you.

Get back to work. Go with some more coffee. Get back to work. Okay. Can we. Grace and Mo, can you get it in the chat? But let's get it up on the screen. I want to make sure. So I thought this through last night when they revoked the clearance. And I attached the. Gunther Eagleman had put up the. Had put up the announcement. So I attached it to his tweet. And I want to walk through this. I want to be able to get this post up. I want to walk through this. So revoke the security clearance. I said step one is complete. Step two is revoke any government pension. Step three, this is for these people. Lisa Monaco, Weissman, Hillary Clinton, Kinzinger, Cheney and many more. Kamala Harris, Biden. Old man Biden's got three. So number one's complete. Take security clearance. Number two, revoke any government pension. Number three, prohibit any government work not requiring a security clearance. So no government government contracts at all. Number four, commence formal investigations. Both DOJ and FBI commence formal investigations. Number five, subject to fruits of that investigation in panel. Grand jury. Step six, formal indictments. Step seven, trials. Step eight, incarcerations. Made a left. I don't know if I left anything out, but that's the arc of what should hand with these people. We got to clear this rat's nest out. This massive victory of the law firm. They're cowards. They will crumble. They're not going to be talking big. We got to get. Now we've already done Brennan and the guys, the 51 that includes in that group too. When President Trump puts the stink eye on you, good things are going to happen. This is days of thunder. This is flood the zone. This is everything we ever envisioned. All the work in all those years, every day pounding away, pounding away, pounding away. Department of Education and we haven't even time to play. The branch yesterday of the White House staff and people putting this together is that they put the entire $1.7 trillion loan portfolio and other new loans they're cutting off, they gave it to the Small Business Association, Small Business Authority to manage. And then everything with the children, everything with health, everything with food they gave to Bobby Kennedy over at Health and Human Services. So they gutted 90% of what DOE does. So the fight over Department of Education is like a rear guard action. Every day they're pounding, they're pounding, they're, they're pounding, they're pounding. We need you at the ramparts. We need you in the next couple weeks. That's why I'm so concerned about you guys getting tied up with on like your home title if you're lucky enough. And remember, people under 35 years old, most of them don't have homes. Hometitlelock.com they get the triple lock. Million dollar commitment promise protection, 24 hour coverage. 24 hours in an alarm in the middle of the night if somebody is messing with your title because that's your contractual note that shows you own the real asset that you say you own. And if all else fails, they have a $1 million restoration project principally around legal. Go to hometitlelock.com steve25 check it out today.

[Steve Bannon]

What if he had the brightest mind in the war room, delivering critical financial research every month?

[Taj Gill]

Steve Bannon here.

[Steve Bannon]

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, MoneyGPT, 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.

[Taj Gill]

You should read it.

[Steve Bannon]

Time is running out. Go to rickardswarroom.com that's all one word.

[Taj Gill]

Rickards War rooms.

[Steve Bannon]

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

[Taj Gill]

Here's your host, Stephen K. Ban. So Philip's gonna join me. We're gonna talk Federal Reserve and particularly these new forecasts on growth rates because this is going to get down to the economies, obviously, as we said in the debts existential. I'll go through some of that in the segment with with Philip. These growth numbers have concerned me a lot, particularly when the Fed comes out and people don't they kind of miss it. We got to talk about that now. We have to talk about that now. We'll do more next week. Why are they saying it's 1.7% and you got to back out government spending? Back out government spending. And people can tell the business environment is just not clicking because President Trump, what he's doing is going to take a while to take impact. And you're still recovering from the Biden situation. Until you cut the government the massive government spending, you're just not going to get there. That's why the Doge thing's so important. But that's why we have to and I'm calling for the impoundments. Andy Biggs broke it last night. We got to start the impoundments like in the next couple of weeks to know what this number is. Also, the secretary of commerce has got to and I don't like to criticize these folks under such pressure to do it, but the secretary of Commerce ought to do more commerce. I've got it up on getter. More commerce, less media. His discussions of Social Security are not helpful. They're not helpful. President Trump has a very complicated situation which he's trying to juggle everything to bring peace and prosperity. And the pressure is enormous, as you can imagine, geopolitically and geo economically with the tariffs going to go on, the reciprocal tariffs going to go on. The second he's got a huge, huge undertaking. He needs assistance. We don't need diversions on like, you know, getting this Social Security thing up bigger than it is. And I think we do need to know because this judge is now trying to shut down what is actually the waste, fraud and abuse if it's there, kind of identify it what it is, even if it's a range and then get back to the and this is why I was glad that Elon was at the Pentagon yesterday, because we're not making any I don't see any progress at all on the Pentagon either. The waste, fraud, abuse I saw, you know, Pete and these guys came with a couple hundred million dollars. That's fine. But it's a $900 billion enterprise, folks. And they're going to have to be some cuts you're going to get people. Bannon, you can't say that we're not defense. Hey, I'm giving you a reality check. If you're not going to cut the defense budget, you're not going to get to the rest of the discretionary spending. That's just the mathematics, the physics of modern American politics. And President Trump can do a lot. But right now he can't change the law of that part of the physics.

[Mike Lindell]

Right?

[Taj Gill]

The votes are just not there anyway, win after win after win. But Commerce Secretary, more commerce. Just get off media. You're not good at it. Let me be blunt. You're not good at it. It's not helpful. President Trump's the master. If you got something to say, have the master say it because he's the best there ever was. Also, Rickards, I know you like the geopolitics law and the capital markets. Go to rickardswarroom.com you get access to Strategic Intelligence, the monthly newsletter. You absolutely love it. He's now a major contributor over here for the War Room Posse. You get the free book too about artificial intelligence and capital markets called Money. I think GPT. It's a must read. It'll keep you up at night. Kind of scary. But hey, you're big boys and girls. Rickardswarroom.com strategic intelligence. Give it a chance. You'll love it. If you love the stuff we come on the show, you'll love this too. Strategic Intelligence. Mike Lindell, I know that you've been, you're supporting early voting in Wisconsin because that's the rules of the game. You are working with President Trump obviously to get one day all paper ballots, game day voting. But that's not here. I know you support her. I just want to make sure everybody understands that Keith Ellison is trying to shut down not just the charity. They're doing that your foundation, your philanthropic. But they're coming after the shutdown you down your business because they don't want you to have a voice, sir.

[Mike Lindell]

That's exactly right. And Steve, I want to, I want to reiterate a little bit the importance of this Wisconsin race. Everybody. The Wisconsin Supreme Court back in the day, they made some good rulings for election on the election platforms and what was going on A few years ago in our fight against Robin Voss and others that we had in Wisconsin, the Wisconsin Supreme Court, this is how important these races can be. But this one is critical. This one I can't stress the importance, importance of this race coming up on April 1st. And I just wanted to put that in there, Steve, because when we. I know where our successes were and where our blocks were. And the Supreme Court, they were brave. They were brave back then that they made. They actually made rulings instead of kicking things out for standing and sanctioning people. So I just wanted to put that in there. And then on the other side of the coin, when we have bad politicians like Keith Ellison, the Attorney General of Minnesota, he is very afraid they're even regurgitating old information. Mike Lindell's gonna run for governor of Minnesota. So they're pushing this stuff out there right now. And I don't this big attack on my pillow and on my charities and on the Recovery Network and it's disgusting, Steve.

[Taj Gill]

It is disgusting. Talk to me about the company. Sell me a pillow. In that limited time we got with.

[Mike Lindell]

The company, we had all these sheets, all these percale and Giza sheets we ordered for this spring. We had a couple box stores that were gonna take em back in. And now I don't know if it's the news or whatever. They're sitting silent on us. They've gone fox on us, they've gone silent on us. So what we've done, I said, you know what? I'm tired of it. What? They would have paid the wholesale prices. Now the war room posse gets to pay. So There it is, 2998. That's what they would have paid in wholesale. They would have doubled the price in the box stores for you. You would have paid 60, $70 for a queen size set. 2998 the queen size and $34.98 for the king size. You guys these and wait. And while they're gone, when they're gone, they're gone. We have so many that were allotted for the box stores, we're gonna sell it to the war room posse. So go to mypillow.com scroll down, we put Steve front and center there. Click on him. There's your queen specials and there's all the other exclusive war room specials. One of the ones you guys is those premium mypillows where it all started. They're now made with Giza Cotton covering. 1890 for the Queen, 1998 for the King. Call my operators today. They're all standing around. Wait for the war room posse to give them a call. 800-873-1062. I am in my office today. I'm going to go down. I'm going to take one of those calls. We're actually doing some other filming. I enjoy talking to the posse. Let's get him. Let's get the phones ringing.

[Taj Gill]

Amen. Let's. Let's light those phone lines up. You'll get. Get Mike Lindell on the phone, put him to work, make him sell you some sheets. Love you, brother.

[Mike Lindell]

All right, thanks.

[Taj Gill]

Gotta keep Michael and Dell going. He's absolutely correct about the voter. That's all the Wisconsin issues. You got Second Amendment issues, you got right to life issues. You got election integrity. What I mean, you see how radical she is about the child molesters. Not even counting the national issues. Talk about issues. This is all about families, healthy families in a healthy country. Make America healthy again, make America great again are two great movements. And also another one's about having babies. Kevin Dolan, Natalism means what? Are we not having enough babies? Enough healthy, happy babies, Sir?

[Kevin Dolan]

No, sir. No one on the planet is having enough babies, and particularly not in the United States. And you mentioned the debt being existential and sort of the growth numbers being disappointing. That's sort of where the rubber meets the road on the economy. Basically, there's only two ways an economy can grow. One is through technological advancement and one is through population growth. Basically, with our population declining as fast as it is, we're headed for a situation where we cannot maintain the growth necessary to make capital markets function. In terms of your listeners, that's your 401. That's the value of your home. That's the value of the dollars in your checking account. It's all predicated on. It doesn't have to be like crazy growth all the time. It doesn't have to be everybody having eight kids. But if you don't have reliable population replacement, you can't maintain the basic level of growth that's required for capital markets to function. And so everything falls apart. In addition to the fact that I think your listeners are probably seeing in their own families, they want to have grandkids. And that's harder and harder to come by these days. And so we are trying to bring people together, both experts and just people who care about this, to see if we can find solutions to this problem, whether it's policy solutions. We've got a very friendly White House in terms of Elon and J.D. vance, and many of these people, including the President the president's got this great example of a big family that loves him. And I think that's sort of a legacy that almost all of us want. And it's great to see little kids around the White House again. And so from a policy perspective, we have this really golden opportunity to solve this problem.

[Taj Gill]

You got a big conference coming up. I want to give all the details of the conference. How do people go online now and check it out, see if they can attend?

[Kevin Dolan]

That's right. It's natalism.org and we're offering promo code War Room 50 for 50% off the ticket. It's a big discount. We're coming into the home stretch for this conference. It's next Friday and Saturday in Austin, Texas. So if you're an Austinite war room person, check us [e-mail], war Room 50 is the promo code.

[Taj Gill]

And what is your social media? Where do they get you? Where can they follow you in the off hours as our audiences want to do?

[Kevin Dolan]

Yeah, so it's NatalieSmorg is the Twitter account or I'm extra dead. JCB.

[Taj Gill]

Thank you, brother. Big happy families. What is it? Dostzewski starts off with Anna Karina. Every happy family. All happy families are the same. But each unhappy family is unhappy in their own unique way. I found that to be true. Happy families, nothing can be better seen. Wealthy people, powerful people all over the world. The best thing you'd ever be given is a happy family. It is. It's the bedrock of everything because that's where you get your values, your religious beliefs, your religious practice, your spirituality. It all comes from that. That's the bedrock. That's for these Natalism folks. Very focused on. Isn't it ironic? I go out with the spiritual warfare, modern day holy war from Lady Nogradia. Love this song. Love all the songs we play on a Saturday in March in the middle of a fight and we're winning, but you cannot flinch for a moment. Remember the President of the United States. All gas, no break. We're going to talk the exception economy and capital markets and get real next. Philip Patrick joins us from Birch Gold. We will be back in the war room. Just a moment.

[Steve Bannon]

Health isn't just a personal issue. It's a family issue, a community issue. We're living in unpredictable times. Supply chains can break down, hospitals can get overwhelmed. And let's not even start on the natural disasters. These aren't hypotheticals.

[Taj Gill]

They're happening.

[Steve Bannon]

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[Taj Gill]

War room, here's your host, Stephen K. Bann. Okay, welcome back. Philip Patrick joins me now. Philip, a couple things I want to get into the obviously gold, precious metals, what's driving. But I got to ask you, you know, the Fed came out this week and all the noise was about they're not going to cut. And in fact, they project out two cuts for the rest of this year, but they're not cutting now. They kind of get the headlines. But then underneath it, he gave out their numbers and particularly a new projection for the year. And correct me if I'm wrong, my calculation, they said the growth for the year for the economy was going to be 1.8% and they've ratcheted that down. And he talked a little bit about a tariff drag, although I don't know how that could be since tariffs really have, have been held in abeyance and I was supposed to on April 2 kick in with these reciprocal tariffs. But my concern overall is that unless we see, I mean, my number's 3 to 3.5%. If you don't get to 3 to 3 and a half percent, we're going to have real problems here. The Trump supply side tax cut from the first term gave us 3.5% growth in the fall and Christmas season of 2019 before the pandemic hit, which is really the best real sustained growth we've had with low inflation and low interest rates. I don't know, since the early parts of this, at least since before the financial crash in 2008. Your thoughts, sir?

[Philip Patrick]

Yeah, I couldn't, I couldn't agree more. Numbers coming out were very concerning. GDP growth was revised down 2.1 to 1.7 for this year and as you say, 1.8 anemic growth for next two years. Meanwhile, the Fed's favored inflation gauge core PCE, now projected to rise 2.7% this year, up from 2.5. The general feeling from the meeting was a suggestion of a stagflationary climate. And I think broadly at the moment, and I'm stressing the word shorter term, investors seem to agree. There was a recent survey amongst bank of America Investment Managers. 71% said they expected to see a stagflationary climate develop over the next year. And concerningly, at least short term, they're doing something about it. We're seeing a record sell off at the moment in US assets. More concerningly, though, with the study, Wall street thinks that the era of American exceptionalism is now behind us. Two thirds said that the historic outperformance of US capital markets compared to the rest of the world has peaked. Now, this for me is a problem, right? We've discussed before, the US constitutes about a quarter of the world's GDP, yet US markets hold about 60% of the world's investment. So a shift in sentiment could see a major decline across the board. A large sucking sound as a third of the world's net capital flees the U.S. now, tariffs are being blamed largely for this policy, right? Powell saying specifically he can't lower rates because of tariffs. According to the Fed, tariffs are the only thing to blame for this potential stagflationary bout. Now, he didn't use the word stagflation. Quite interestingly, he used the word transitory, which I was very surprised about, that he would ever call anything transitory again after the sort of palaver in the pandemic panic. But look, one thing I think people need to understand is shorter term prices will go up. But what that means is that the policy is working, right? The whole point of tariffs is to raise prices. If they don't go up, the tariffs didn't work. But I think the Fed at the moment seem to be in a better position right now. They have a scapegoat in the form of Trump and tariffs. But one thing that I do want to stress to people, it's a mistake, I think, to overemphasize the capital flight. Shorter term, we have to remember that short term markets are voting machines, but long term, they're weighing machines. And I think the way to get out of this mess is to get capital to return to the US And Trump's economic plan I think will be crucial to that. So shorter term, a ton of volatility, but longer term, unhopeful.

[Taj Gill]

I want to go back to the GDP Number and help me understand this. If the Fed's saying now remember the Fed has, and I'm sure after Doge gets there, it won't have. I think they have 900 professional PhDs in economics. But if they have all this modeling and they're so sophisticated and they're primarily. You have Commerce has their outlook, treasury has their outlook. The National Economic Council under HACCP has its outlook. You have Peter Navarro over there at the manufacturing czar. He has his outlook. Labor Department has their outlook. So there's many different sources of information and data in the United States government, which quite massive. Then you've got all the investment banks and as you know, the institutional architecture of the financial industry is massive. You expect something that doing trillions of dollars a year and I think in currency, trillions of dollars a day. What concerns me, I don't think people are sitting there going, hey world, we have a problem is when they say the United States is 1.7% growth this year, folks. The system we have at 1.7% growth. And you take out government spending, that's a recession in the real world because you still have this massive. You have these massive. You run into a $2 trillion deficit. You're spending six and a half to $7 trillion in government money. And that doesn't really include all because there's all these side pockets too that are out there. But then you look at China and I think the way I calculate China, besides the phony numbers the CCP give you and the bank of China give you, you're at around 2% growth, 2.5% growth max. In China, you weight average because that's what, 60% of world's GDP or at least over half of world's GDP. You have the two engines that have pulled the train for so long in growth at about 2%. The model doesn't work at 2%. This is my point about we have $300 trillion now of face amount of debt at every level. Credit card debt, local school district debt, county debt, state debt, city debt on the globe, government debt, bonds, everything. You add it all up, it's like $300 trillion. Are we not heading for the world's biggest margin call? Because the era of, and this is why we did the six free installment of modern monetary theory. We wanted people to understand the idea that kind of, not that it had been bad before, but they had an ideological justification to do this. The deficits didn't matter. Every type of government in the world, and particularly the US Government that had the ability to print money fell into this trap. And now I just see. And this is why I keep saying that gold is a hedge. You know, gold's been on a tremendous run as an investment, but it's not really. It's never done that in history. It's always been a hedge against times of financial turbulence. So I look there and just say, we have not been wrong in these numbers once in the last five years since the short story, but particularly since you guys joined as our partner, that there's something very scary here. And here's what really got me. When the Fed naps the other day, it didn't go to DEFCON 1, which I thought it should, had everybody focused on, once again, the easy money. And the easy money under Biden is one of the reasons we got here with the inflation. It's not a solution right now. I think it's only a potential problem. So, Philip Patrick, that's my rant. I'll turn it back over to you. But I would say for our audience, you gotta be on the watchtower now, not just for the country as we push forward. And this is my problem with doge. I just don't see the cuts coming. I don't see the waste, fraud and abuse. And people say, what? But I haven't seen hard numbers associated with some of these things. What they have done is programmatically, has been identified before. Department of Education, usaid, they've been an instrument to help take down usaid. But actually, when you talk about the numbers to get that 6.5 trillion spend down to 5.5 trillion, which is critical, then we can kind of survive, I don't see it. I just think people should have been more general quarters when the Fed comes out and said, hey, the growth ratio has been 1.7%, sir.

[Philip Patrick]

You'Re absolutely right. And everything we've been talking about for years is coming to fruition. But the reality is our economic model does not work at 2% growth. Debt at that level grows faster than income. And we know what happens when that happens. So, you know, everything we've been talking about for a long time is playing out in front of us. And that's why it's time to make the tough decisions. That's why we have to push forward with Trump's policies. Look, shorter term, it's going to create volatility, it may push us into recession, but at some point, we need to start tackling the issues and rebuilding. We need to curb the spending. I agree with you. I don't think at least as it's set up currently. Doge has the cuts, can make the cuts. I think if we're unwilling to look at Social Security or defense spending, it's going to be impossible to plug that gap. But ultimately we need to look at doing it sooner rather than later because the position we're in, we cannot continue with. And this is happening, happening on a global scale. It's not just here in the United States. It's happening around the globe. As you say, the biggest margin call in history is in front of us. And precious metals throughout history have always been a way to hedge, right? Not only for stagflationary climates. Last time we saw stagflation gold grow over 2000% from the early 70s to 80s. But in climates where so much is at risk in terms of currency, in terms of the dollar, in terms of global reserve status, now is the time people need to start looking at precious metals and just look at the prices. They tell the story.

[Taj Gill]

But this is why gold historically has been. And pressure metals have been a store of value in a hedge against turbulence. We got a couple minutes here on this side of the break. Just give me a couple minutes. Why has it been on such a tear? I think we first started with, with birch gold. It was like $1,100 an ounce. And the last year is like, why has this been on a tear when historically that has not been the case, Sir.

[Philip Patrick]

Well, listen, for our lifetimes, the US Dollar has been king. And that position today is, I mean, we're still king, but it's coming under threat, right? We're seeing de dollarization happening around the globe. We're seeing global debt levels spike. We're seeing inflation burning around the globe, right? And in times like this, there is always a flight to safe haven. Commodities, right this century is looking very different to last. We're starting to uncover big problems. We've lived, you know, we've amassed debt at a level never seen before on a global scale. And when you do that, you start to see the fragility of currency. And we're doing that. Let's not forget the dollar's lost 21% of its purchasing power since, since the pandemic. That's four and a half. That's a big problem for us domestically, but it's a problem for central banks around the world. And they are doing what they have always done, which is turning to gold in times of crisis. And we're seeing a lot of different problems converge. And I think, like I said and I've said many times, there isn't a better asset class for precious metals for climates like this. And that's why demand is at all time highs and it's why gold prices are moving and will continue to move.

[Taj Gill]

Okay, we're going to take a short break. When we get back, I'm going to ask. Well, I'll ask him now. Look for the answer on the other side. Central banks are the smartest and I tell people all the time I said, look, I went to Harvard Business School, but now every central bank, every country's got guys who went to Harvard, Chicago, Stanford and they all have the HP12C which is kind of the union card. That's the calculator, the hand calculator from Hewlett Packard. That's been the traditional union card. I think it's the younger guys have a more sophisticated version, but it's basically what you can do. Net present value and all your discounted cash flows, they all have it. These are all smart people. And what's been shocking to me over the last couple years is every year we're getting record rates of central banks. Not you, the audience. I mean, yes, on retail side and citizens that want physical gold has been on the rise, but you got central banks that are buying at record rates and every new month it's another record rate. That is a tell and I'm asking Philip Patrick to give us the answer. Why is it a tell? Why are central banks been setting records of buying gold in the last couple of years and why do you want to own physical gold? Short commercial break Myles Guo will take us out with the take down the CCP and hey, there's no central bank that's buying more and trying to hide it than the Chinese Communist Party's bank of China. A short commercial break Philip Patrick from Birch Gold on the other side, you.

[Steve Bannon]

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Start building the life you deserve. Visit donewithdebt.com and talk with one of their strategists.

[Taj Gill]

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[Steve Bannon]

Go to donewithdebt.com that's donewithdebt.com war room.

[Taj Gill]

Here's your host, Stephen K. Bannon. Okay, so Philip Patrick, by the way, birchgold.com Bannon. You get the. Or slash. Yeah, slash ban. And you get the end of the dollar empire. The six free installment. We're doing something very special, gonna announce here shortly. But you get the six free installment. All of them are free. You'll get like a master's degree in capital markets and in debt. Deficit, all of it. But the sixth one is the modern monetary theory. The idea that broke the world. And if all these fights you're going to have on debt ceiling, all these fights are going to have on deficits and cuts and spending and doge and all of it gets back to the railhead of a big idea. And that idea was deficits don't matter, guess what? But they were wrong. And it's very important for you to understand why they were wrong. I tell you, somebody who focused on deficits understood this is the central banks. Why bank of China and bank of China is buying and trying to cover it up. The other banks don't really do that. Why want central banks buying at record rates? And why is the bank of China gone out of the way to buy at record rates and not want the world to know about it? Sir.

[Philip Patrick]

Yeah. Look, central banks have set records for the last three years over 1000 tons of physical gold bullion every single year. And the reality is because they understand that the dollar is declining, right? What we see is inflation nations see as dollar devaluation and they don't want their reserves losing value. Factor in that Biden in 2022 weaponized our dollar, making it less attractive for nations like China who have have one eye on Taiwan to keep holding large chunks of their wealth in dollars. We've disincentivized the world. Now the dollar is still the tallest midget in the room. The problem that the BRICs have is they don't have a currency that can usurp the dollar. And that's where the gold buying is coming in. By buying gold, central banks around the world are achieving two things, right? Number one, it's giving them the stability that they need for an international currency in fact, gold is a better than the US dollar today. In the same time period, the dollar's lost 20% of its purchasing power. Gold is up over 40. The second side is a little bit more nefarious. Gold is a good vehicle for central banks to de dollarize right. The more gold they buy, the less dollars they hold and ultimately if that trend continues, the weaker the dollar becomes and the weaker the longer term argument becomes for the dollar as the global reserve currency. So I think the wheel BRICs are using gold as a tool to de dollarize and the longer that continues, the worse it is for us here in the United States. And I think it is going to continue. The biggest single quarter was the fourth quarter of last year. So the BRICs are moving and continuing to do so.

[Taj Gill]

All of the war and posse rave when they get access to you guys and talk about physical golden ownership, I want to know right now where do people go to talk to you and your team, Philip because that's really the differentiation of Birch Gold and everybody else.

[Philip Patrick]

Where the folks it is very simple birchgold.com forward/bannon that will get them access to free information guides on on why and how to invest in gold under a Trump administration as well as the end of the Dollar Empire series which I know people love. So birchgold.com forward/bannon or text Bannon to 989-898 e get access to free information and they can reach me directly at Philip Patrick on Getter.

[Taj Gill]

Philip Patrick, thank you for taking your time on a Saturday to join us here on our favorite show, the Saturday Morning show. Appreciate you Sir. Thank you Steve birchgold.com Check it out today. But gold's been on a tear. Our point is not the price, it's what's driving the price. That's what you have to understand. That's we're here to teach you. Once you learn how to fish, you'll know how to fish forever.

[Steve Bannon]

Okay.

[Taj Gill]

Given what's going on in the world, the late great Billy Joe Shaver get the Behind Me Satan. One of my all time favorite songs, Let It Rip. I'll be up on get her all weekend and we will see you back here 10:00am Eastern Standard Time when you will be back in the war room.

[Billy Joe Shaver]

I looked into the mirror and I couldn't see myself the demons that were in me had turned me wrong side out I knew inside my soul I was headed straight for hell But I couldn't for my life figure how to help myself and I said get thee behind me Satan for I commanded in the name of the Lord Jesus Christ of Nazareth. Get deep behind me sin For I command it in the name of the Lord Jesus Christ. The moon and stars were hidden by the shroud that clouded round I could see my loved ones weeping as they lowered me in the ground no words were spoken over me. I almost thought I died. Then I knew I wasn't dead. I had been buried. I said, get deeper S For I commanded the name of the Lord Jesus Christ of Nazareth. Here. Get deep behind me sitting For I command in the name of the Lord Jesus Christ. I. I couldn't see my hand in front of my face. I knew that I was buried in the deepest, darkest place. The deeds I had done put me in this awful place. Then I felt a stir inside me and a smile came across my face. I said, get down, Jesus. For I command in the name of the Lord Jesus Christ of Nazareth. Empty behind me sitting oh, I command it in the name of the Lord Jesus Christ. I miss For I commanded in the name of the Lord Jesus Christ of Nazareth. Nazareth. In the name of the Lord Jesus Christ.

[Taj Gill]

Amen.

[Billy Joe Shaver]

Amen, amen, brother.

[Taj Gill]

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