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Episode 4390: MAGA Is In A War And We Must Stay Vigilant; Exposing The Long Con
Episode 4390: MAGA Is In A War And We Must Stay Vigilant; Exposing The Long Con ...
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- [00:00]
Stephen K. Bannon
And a pirate. How's that? Street fighter. And a pirate. A gangster. I'm in Boeing. I'm in Gangsters and Pirates. I'm. Well, brother, have a great weekend. We'll talk to Rob Sigma. Line that up. All right, brother, thank you so much on a Friday. Appreciate you. Okay, folks, historic day. Big sell off. Orderly, not no panic there. Although the MSNBC and CNBC trying their best to stir up a panic. Here's what we're gonna do. We got kind of a cold open, longer cold open because so much going on. Let's play it in our return with observations and analysis as we open the war room.
- [00:35]
Katie Tur
It's so important that you bring up the fact that the Biden administration was late on figuring out just how dangerous inflation would be to working Americans and again said it was transitory. It ended up not being transitory, but staff. It's very interesting. You bring up the Treasury Secretary who again a couple of weeks ago said cheap goods, affordable goods, not a God given right for American consumers, and then saying yesterday, well, other countries shouldn't push back against these, these high tariffs. They're just going to do that. And we showed some clips of Scott Benson. He looks very uncomfortable. I suspect it's because neither he nor many of the people who are advising the President, certainly not those on Wall street supporting him, actually agree with the president on tariffs. I mean, Donald Trump stands almost completely alone in believing that he can reorder, you know, 45 years of globalism.
- [01:35]
Joe
Bingo, Joe. Sources say that Scott Bessant is kind of the odd man out here and in the inner circle that Trump has, he's not even close to Scott Besson or listening to him. Some have said to me he's looking for, for, for an exit door to try to get himself to the Fed because in the last few days he's really hurting his own credibility and history in the markets. Those who' this man actually understands how the markets work and what's happening right now is only going to hurt markets. And even for Scott Besson to say a few weeks ago, you know, getting cheap goods fast is not part of the American dream. No, it's not part of the American dream, but it's part of the way Americans live, especially people who are economically, economically vulnerable, they don't have the option to say, nope, I like higher things that cost more. They need low cost things because they don't make it that much money that.
- [02:22]
Jerome Powell
Jerome Powell and the Federal Reserve now face. Before, what we talked about was inflation, the high cost of everything, homes, mortgages, cars, whatever, caught up in the COVID supply chain crunch that we had a couple of years ago, price is still too darn high. I will filter myself because it's a family show. And now all of a sudden the Federal Reserve is finding itself trying to fight this, this tariff, this trade war, which I don't want to say came out of the blue, but certainly is a lot worse than people expected. I'm not sure anybody on Wall street that we have talked to here expected the President to do exactly what he did. Most people said, well, you know what? He's, he's just hubris. He's going to say this, but ultimately we're not going to get the worst. Well, guess what? We got the worst and then some. Now, to your point, Jose, China's responding. What did Jay Powell say today, the Fed chair? Well, number one, he said, I'm not going to respond to what the President did because the Federal Reserve is not supposed to respond to elected officials. But if you read between the lines, and I can assure you there is no love lost between these two men, Jay Powell and President Trump. President Trump wants lower interest rates, lower mortgages and lower inflation. He has openly called for the Federal Reserve to cut rates. The Federal Reserve, though, now is believing that if tariffs are enacted, as we know that they will be, prices are likely to rise. That's inflation. And the Federal Reserve does not cut rates in inflation, anything. It might keep rates steady or perhaps even raise them. So this is a global conundrum that as we're seeing from the charts and the numbers today, Wall street is caught in the middle of and it's kind of a self first asked questions, later theory.
- [04:04]
Joe
Good look at the markets. It has obviously been a disastrous week. The response from big investors and small, near and far is not good. And it's no surprise that this White House is under pressure. The President, his Cabinet, they are getting calls from CEOs, from investors, because across the board we are hearing this is bad news. This morning I reported that I had heard from close to the White House that there was so much pressure, Scott Bessant, the Treasury Secretary. Secretary was potentially not in the inner circle and potentially looking to make a move to the Fed. I actually spoke to someone this afternoon, a high level person inside the administration who cleared that up. And they said to me, and I want to get it right. Secretary Bessant is more committed than ever to his role as Treasury Secretary. He's meeting with the President several times a day and communicating with the rest of the Cabinet. Obviously, this Week's market reaction is painful, but this is about an economic reset. So according to Bessant, he's not leaving. But, Katie, you've covered this administration this time and last. Palace intrigue is not new to a Trump administration. And when there is pressure like this, you know, the knives are out for one another. The interesting thing in the tariff situation, though, Katie, who is the president going to blame but himself? President Trump is deeply committed to this idea of tariffs. What we've heard from Secretary Bessen is less about the tariffs, but he had what he has talked about over and over. And the reason he wanted to join this administration. His panic is about debt and deficits. Now, we're not seeing any of that cleared up just yet. And the thing that has me thinking so much, you were just talking to Yasmin about that dress at Macy's. If you and I finished your program and decided to take a walk in the garment district of New York City, you know why that would be a problem? Because there isn't a garment district in New York City anymore. It doesn't exist. You can walk into a shopping mall this weekend and wonder, are all of these stores still going to be solvent? And while we've heard it less from Bessant and more from Commerce Secretary Lutnick, who is the guy negotiating on these tariffs, this idea that we're suddenly going to bring all this manufacturing back. Where Adidas spent 15 years trying to build manufacturing in the United States, we don't have it in a scalable way. I think New Balance has a small sneaker making operation. But on one of our other networks over the week, I heard someone saying, you know, it's time for me to be buying my $200 Nike sneakers that were made here. Well, if they're going to be made here, it's going to take two more years or three more years to build that factory, and they're going to cost $400. So the panic that's in the markets, Katie, I don't know that it's going away, but it's understandable that you would start to see some sort of panic or pressure inside the White House because look what the markets are doing.
- [06:41]
Stephen K. Bannon
Yeah.
- [06:41]
Ed Dowd
After Donald Trump's damage to the US Economy comes into fuller view, the markets today once again taking a nosedive. The Dow plunging 2200 points, more than 5%. Even those good jobs numbers that were released this morning could not shake the market's pessimism. As China retaliated Donald Trump's tariff regime, the Chinese government imposed a 34% tax on all goods imported from the United States. As for Donald Trump is for now tripling down. Yesterday he said things were, quote, going well. Today he said on his site Truth Social that China had, quote, played it wrong and panicked. He added that the unemployment figures are a sign that his strategy is working. But those jobs numbers reflect the month before Donald Trump's so called Liberation Day economic meltdown was put into motion. It puts him at odds with the chair of the Federal Reserve, Jerome Powell, who said today that the tariffs would raise prices for consumers and will weaken the US economy. It put him at odds with JP Morgan, who now predicts a 60% chance of a global recession this year. Their report is titled, quote, there will be blood. The bank says tariffs. Trump's tariffs will cost consumers $700 billion this year alone. It's a tax hike on a scale that LBJ imposed to pay for the Vietnam War. It also puts Trump at odds with members of the Republican Party. NBC News reports this quote. After the GOP led Senate delivered a rare rebuke to Donald Trump on Wednesday by voting to undo his tariffs on Canada, lawmakers in both chambers are weighing additional steps to rein him in. Senators are eyeing other mechanisms to rescind Trump's existing tariffs while limiting his ability to impose new ones.
- [08:32]
Stephen K. Bannon
Now we're not going to have all factories come back like clothing manufacturing. That's tough to bring back. But what kind of manufacturing are you talking about returning here?
- [08:43]
Howard Lutnick
Well, don't, you can't just give that away. See, what's going to happen is robotics are going to replace the cheap labor that we've seen all across the world. I mean, think of what our factories did. They went to the cheapest labor in the whole world, slave labor, cheap labor, the worst environmental conditions, polluting the heck out of it. And then we bring back those cheap products here and we feel good about ourselves because we don't see the pain.
- [09:09]
Ed Dowd
So I really view Liberation Day, as he calls it, to be a real turning point, not just for Americans themselves, but for the way the rest of the world is dealing with Donald Trump, not just as it relates to his rhetoric, but his policy.
- [09:26]
Stephen K. Bannon
This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people. There's 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.
- [10:08]
Katie Tur
War ROOM here's your host, Stephen K. Banner.
- [10:14]
Stephen K. Bannon
A big day in world markets. Of course, they are roiling with the announcement of Liberation Day. I think that we're ed doubt on here to walk through what's actually going on because the msnbc, cnbc, all of them, they're out to do one thing. They are trying to crash markets to bring Donald Trump down. This has nothing to do with the American people. Nothing to do with, you know, all of a sudden, Katie Tur and these people, they're so interested and so fascinated and so concerned about capitalism and people's 401ks. It is a complete and total joke. However, you know, about a situation like this, President Trump's policy is absolutely correct. What he's doing is a geoeconomic reset of the global trading system. Pretty big, right? He started through. You see how he's rolled out on the reciprocity on the term of reciprocity. And you've already had some major nations like for instance, Vietnam, where so many of the jobs during the pandemic from China as they started, people started to reshore. It wasn't reshore to the United States immediately. They went to other low cost, low labor countries. Vietnam, as President Trump put up on truth Social has already reached out to President Trump and said, hey, no mas, we're in. Just tell us what we got to do, right? We see we're at 47% at least. You got us down at 47%. Maybe we'll fight you on the margins, but we're in. Just tell us what we got to do. We don't want to get into a trade war with the biggest market and the most powerful nation on earth. The messaging here, when you have a messaging apparatus that's going to sit there and tell lie after lie after lie after lie, do no analysis and repeat the lie, you have to combat that. You have to go on offense first. This is not about cabinet secretaries or people at the White House coming on shows, which I think they do, they do a fine job. Scott Bessant, Secretary of Treasury. Howard Lutnick, Secretary of Commerce. Peter Navarro, the trade and manufacturing czar. Also Hassett, they're out. They're going to do the Sunday shows this weekend. They do a good job. When they're on, I think. And Stephanie Rule, and we love your show. We watch it every night to deconstruct it, because that's a show kind of all Wall street and the corporate people watch late at night before they hit the rack to see what's going on. It's kind of news for the business community. I believe you're wrong. Scott Bessen, his style is different. He's not Howard Lutnick. He's not Donald Trump. He's not Peter Navarro. He's not Steve Bannon. He's got a different professorial take on things. That's why he's a safe pair of hands. That's why he was a contributor here for years. That's why we fought so hard to have him as secretary Treasury. He's a safe pair of hands. He's in and he's on the inner circle. Not the inner circle. He talks to the president multiple times a day, but he's not going to go out with his heron fire running around. It's discernment, it's reserve. It's what the capital markets want to hear because he's not making it up and kind of winging it about trade and tariffs. My issue is you got to have, as I said on Eric Bollinger at the end, you have to have 100 surrogates, the people in the White House, Cabinet secretaries. They have a job. They got stuff to do. Yes, they have to be out messing, and they should. But you have to have 50 economists, 50 businessmen, including the most major ones that buy into the program and understand it. The union leaders, boom. They ought to be all over at rav, we ought to be saying, no, no, no, we can't take anymore. At Newsmax, we can't take anymore. At Fox, you can't take anymore. The other side has that. We got a weekend to kind of do this. Trump ain't backing off this thing. So White House staff, I love you guys doing a great job so far, but now we got to go fix bayonets. We got to push this over the top. We got to push it over the top. President Trump is not going to back off this, and he doesn't need to back off. The nations of the earth are surrendering, are figuring out how to surrender. I've talked to people for 48 hours straight. They're trying to figure out how they can work around this, how they can do this, how can. How can they get Trump to some amenable point? I'm not saying President Trump's going to do it, but Trump ain't blinking, they're blinking short. Commercial break Return in a moment. Got Ed Dowd go through some 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. 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- [16:13]
Katie Tur
Here's your host, Stephen K. Bannon.
- [16:18]
Stephen K. Bannon
Okay, remember during the pandemic, remember the pandemic and the pandemic just happened to come at in early 2020. Let me back up. Let's go back to the beginning, not the total beginning of the story, but I'll pick a random chapter. One of the most important months, if not the most important month in the geopolitical history of the earth in the 21st century was May of 2019. In May of 2019, almost two years in his administration are just over this construct, this deal we had worked on from beginning led by Bob Lighthizer, heretofore referred to as the Lighthizer deal that Peter Navarro and Lighthizer were working on every day after we'd had a little, how do you say this, Gary Cohn and the globalist crowd took their shot in April and May, June of 2017 and failed miserably. President Trump reverted back to exactly what he wanted. He knows exactly what he wants in world trade. Lighthizer and Navarro working with Li, he came up with called the Lighthizer deal. It was seven verticals to take away the seven original sins, as Dr. Navarro calls it, of the Chinese, the Chinese Communist Party economy into actually fold it into kind of merge it into the economy of the west led by the United States of America and Western Europe. It would take away the problem of excess capacity and state owned industries and how they gamed the entire system, all of it. They also had that month the first belt and road big conference and they had Putin come. I think it was actually either Beijing or Shanghai. And at that time Wanxi Shan and Xi looked and said, hey, this one belt, one road thing may work. This predatory capitals. We're lending all the, all the nations on the Eurasian landmass in the Central Asia and sub Saharan Africa and the Middle East, Pakistan, they're all taking the money. They're all getting these infrastructure programs up. We all know they're not going to be able to pay back the money totally at first. So we're going to restructure the debt, take ownership of the, of the infrastructure projects, control the countries and then we have the networking effect that we've been looking for. And the United States and Europe will fall shortly thereafter with Russia as our partner. They canceled the Wang Qishan said, why should we bow to the foreign devils now? They canceled. They actually called up and said we're not doing this deal. When it was the draft was a prepared, they were prepared to work through and sign a draft and then get ready to have a signing ceremony event with President Trump. And Xi canceled, not doing that deal. We'll get back to you. They're not interested. Typical Chinese circumstances change. That's their. When they retrade you, circumstances change. Okay, thank you. I got that. That's what contract's supposed to go through circumstances. But I got it. You guys roll differently. I got it. They also declared, as Frank Gaffney tells you all the time, the Committee on the Present Danger tells you all the time, they declared a people's war against the United States. She did said let's go, let's throw down. In fact, we don't want to get together. We kind of, we don't mind decoupling. We want to roll because we see what they're trying to do. Shortly thereafter, I don't know in the summer or the fall, I think the late summer, the military games. Right. The COVID 19 started to spread. They knew what they were doing. They're going to take down the United States, Trump and of course the economy of Trump in 2019 on a roll. In the fall of 2019, on a roll, virtually no inflation, super low interest rates, a 3.5% growth rate. We're taking a trillion dollars of liquidity off the balance sheet of the Federal Reserve. Janet Yellen was the Federal Reserve chair. I actually thought she was doing okay. Quantitative tightening. Trump grew the economy at that, with that headwind. Plus she had first time wages. As Cortez tells you all the time, he's got the charts on the whiteboard. Blue collar wages higher than white collar wages on, on growth. Non college graduates higher than college graduates. First time in a long time record low unemployment. Hispanics, African Americans, baby, we're cooking with gas. Let's roll. Then the pandemic and now we're in this situation. President Trump was going to do it then, now he's going to do it now. He has thought about this to the core of his being. This is why he's in public office. This is why he started thinking about back in the late 80s and the early 90s, particularly remember when they're buying the air rights over Tiffany. The Japanese, remember the Japanese in the late 80s and early 90s had an acid bubble. But man, they were on a roll. They were going to conquer us. And Lou Dobbs, who was kind of his mentor on TV because watching CNN and Lou Dobbs was hammering this every night. Nobody talked about it. The beginning of the trade deficit then Lou Dobbs was hammering that in the 80s and 90s, remember the trade deficit is $25 trillion. 18 trillion. Since Chinese, since the globalist in New York City and of course the Bush apparatus and the Clinton apparatus, the political class and Wall street invite the Chinese Communist Party in so we can make slave labor, Lao Beijing and everybody make more money except for the working class and middle class United States who are going to have it all on their shoulders. And oh by the way, can you also Moloch wants your children for forever wars in the Middle East. Let's start there. That's the system. Trump is breaking the system. Whether it's a legal apparatus that runs the imperial capital was the universities that radicalize these kids. Whether it's the institutions and groups that allowed for a 10 million person invasion on the southern border into our beloved country in four years, or allow fentanyl to come in and destroy working class people of every ethnicity and race both in rural communities and in our inner cities. Oh, and designate sanctuary cities at the same time. The corruption, the incompetence, the hatred of the United States of America and the citizen of the United States of America by our elites is virtually unfathomable. The revolutionary generation came back here. It's not just the structure and the results. A good, good God in heaven, what have you done to allow these people to have control of this, our beloved republic that we put everything on the line for. Yeah. How does it make you think? Was threatened worth it? Was. Was Valley Forge worth it? Was Morristown worth it? Was Saratoga worth it? Was Bunker Hill worth it? Was all of it worth it? Was that worth it? Is that what you were doing for this? And forget the freak show and the culture. I'm just talking about the power and the money. They have outright contempt and hatred for this country, its sovereignty, this republic and its citizens. And they're going to sit up here now and whine all day long. This is so terrible. People are going have to pay more for the dress we can get in Macy's. People are going to have to. They're going to pay more for this. They don't give a damn about that. They never given a damn about that. Were they talking about that when Biden juices? As we said on this show at the moment, they did it in 21 and they did that whole nother cash infusion. We said it's going to skyrocket inflation ourselves and Larry Summer and nobody else and particularly not the traitors Republicans that signed up for it to get it passed and now those same Republicans, the same people that signed on to that blood oath with Biden, that crowd for this spending that crushed everything and sent inflation up. Did you see the republic talking about. No, but all they're running to the mic now. My Lord, this is terrible. We must stop A Trump must be stopped. He must be. He's not going to be stopped. He's not going to be stopped in the White House staff. You guys are doing a great job. You got to get. I need 100 economists, I need a hundred businessmen, I need a hundred entrepreneurs. I need a hundred union people. I need a hundred folks from Main street and I need them in microphones. I need them on shows starting Monday. My producers should be coming to me every second. Said, these people are so obnoxious. They want everything. They want every second of the show. It's crickets. Trump's got a job. He's president of these United States, the commander in chief of our armed forces in the chief magistrate and chief law enforcement officer of our nation. He's fully engaged. I got a secretary treasury. He's great. I got a secretary of commerce. He's getting better. I got Navarro. They got jobs too. I don't need them on TV constantly. You give, you know, Besson, come out and do something with Caitlin Cost fine. I don't even. He's not a TV host. Where are the Economists, where are the businessmen? Where are the entrepreneurs? And God in heaven, where are the working class? Hell, guys were coming up in the Rose Garden and high five and Trump and taking the microphones. President Trump, I'm from Macomb county, the home of Reagan Democrats. And I love this. Where's that gang? They're called surrogates, folks. If you think the biggest change in the global economy since World War II against people that control that and have made so much money, let me just repeat. I think it's since October 1st, the beginning of the fiscal year, $4.4 trillion of wealth has accreted to the top 1 or 2% or 0.0%. Let's say this, the top guys greater than the bottom 50%. Note to self, Trump's whole purpose is to change that. It's not to take. He's not, he's not the French Revolution, he's not a Bolshevik, it's Donald Trump. You don't have a bigger capitalist, a bigger entrepreneur. Trump, all he's trying to say is, hey, I'm tired of these elites ripping off American people. And American people want a piece of the action. They deserve a piece of the action and they're going to get a piece of the action. So why don't we help him out? You know, going to help him out. Let's go rip some faces off. You're telling me Katie Turret and this crowd @ MSNBC and Cena, Steve Liesman, this is what's going to do it. And this is going to create this kind of firestorm. And they're sitting there, oh my God, it's terrible. It's terrible, terrible. And then have a million people call Trump over the weekend. You got to back off. You got to back off. This is terrible because they're all, they all grabbed, all these donors, they're all pearl clutchers, they're all gutless and they panic at the first sign of a fight. We got to fight. You think they're going to give this to you? Think you're going to toss the keys, Trump? Why not Think of that. Why didn't I think of the reciprocal terrorists? Why, why was that not idea? That's so great. Here's the keys. You just take it for a while. Have we lost our frickin minds? This is a war and if you don't treat it like a war, you're gonna get your ass kicked. Ed Dowd will join us, I think from Maui or for Hawaii. How well do you sleep at night? Real peace of mind comes from knowing your Family is prepared for anything. 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- [29:41]
Katie Tur
Here's your host, Stephen K. Band.
- [29:45]
Stephen K. Bannon
You know, sometimes like in deals or, you know, events or messaging, some things are going to be bought. Other things you got to sell. You have to sell this because it's such a massive reorganization and it's not complicated to this audience because we've walked you through this for the last five years. You know it. In fact, hell, why don't we just get the Warren posse to be surrogates? Honestly, you guys could sell it better than it's being sold right now. It's got to be sold because you see the counter, the people that controlled the system that made all the money and also their theory of the case is we're just going to wait Trump out. We're going to wait Trump out. We see in Wisconsin, Trump not at the top of we saw the 18 midterm, we saw the 22 midterm. Didn't turn out quite. They won great effort but didn't quite win as big as they wanted. We saw the 18 midterm. They got smoked. We saw Wisconsin. These Trump people, they love it when Trump's on the ballot. When they pick a ballot and his name's the top, they're good. No Trump, not so good. They think they can wait us out. This is a 10 or 20 year struggle. Why do you think I'm the biggest advocate of Trump? 28 Trust me, folks. I don't waste my time chasing rabbits, okay? This is a war for this country, for the direction of this country. We're either a constitutional republic built upon entrepreneurial capitalism or we're going to be. What you had in those four years and you saw it, baby, the economics of it. You saw what they thought about our sovereignty. They thought about what you thought about as US Citizens, what they thought about our true allies and where they want to put their money and how they want to sneak it around. New York Post got a story today about Hunter Biden and grime happening on the Obama administration. All that these people are perverts, the degenerates, they're crooks, they're incompetent, and they're just overall not good folks, full stop. And they want to create all the money and power to themselves and give you a fare thee well. This is about the forgotten man and woman who are forgotten no longer. And guess what? In the last couple of years, you're not. You've raised your head up and you've roared and you put him on your shoulders and delivered the biggest comeback victory in the history of the nation. Bigger than the 1 in 16 against all odds on a man they wanted to put in prison, a man they wanted to bankrupt, a man. They brought up all these charges, women, all this stuff, all this, everything. All this, all this stuff, all of it, all of it, every day. And he had the moral courage to say, hey, I know it's going to happen, but I'm all in. That's why he may be the greatest leader this country ever had. And I understand he's got a couple of three imperfections. So did Lincoln and so did Washington. Go read the histories of them, the memoirs go in detail and see that they had plenty of shortcomings and they were disruptors. And guess what? They were hated by a lot of people also. That kind of gets washed out in history, just like this will be washed out when we win. And we're a long way from winning. I don't hear any more about the inauguration. I don't hear more about tech Bros. I don't hear about this and that and all these sunshine patriots and summer heroes. I'm talking about now. And I'm talking about a gut check this weekend because, baby, it's coming all weekend. Trump's destroyed the economy. Trump's destroyed this. He's crushed our allies. He's done everything. He's the most destructive individual ever. And now we're getting autocratic breakthrough. He's destroying the courts. He's sent these poor, innocent, these poor little boys, these poor innocent kids. They're so good. Their mommy's gone. Tv, the big tears they put. They're down in this prison in thing because they're good kids. And somehow they just got a rock and roll tattoo. And, you know, people got them for all the wrong reasons. We got to bring them all back and tuck them in. Because Trump's evil. He's incompetent, he's a bad person. Folks, I told you, when the inauguration is going, they're all running around and they got the crypto thing here and they got that here, and they're doing this here and they're running around. I said, give it 100 days. Well, I think we're before 70, because Trump is going to get down to it. He didn't put. He didn't. He didn't risk 700 years or 350 years in prison. He didn't risk bankruptcy. He didn't risk having his family destroyed. His honor destroyed all of it to come and do small things. Good Lord. He's done more big things in 65 days than all the presidents combined of the 20th century. I'm going to throw FDR in there and Reagan. If you think about it structurally, for the little guy, they run. Oh, my God. He said Reagan and FDR can't be greater than that. Yeah, he is. Yep, he is. And you're already starting to see fissures. They're already coming out. The Senate's already passed something. You got Cruz gets ready. Got them all. Oh, my God. Tariffs are terrible. It's gonna be awful. It's gonna be terrible. They're breaking ranks. I don't see anybody banging heads from the war from the White House. He's, he's a busy guy. President Trump's got a couple, three things on his plate. Where are the headbangers? Go bang some heads. What I want to see him is up on the Capitol steps with the sign that says reciprocity, sir. Because behind the scenes, they're the ones leaking to the press and yammer. This is terrible. I don't know what's going to happen. Yeah, I don't know what's going to happen. This is the same crowd that won't go down and have a town hall because they're afraid a Democrat's going to say something bad to them. A Democrat's going to say something bad. So, you know, if these demo is. These Democrats are going to get some things. Hey, tell those Democrats, go screw yourself. You Guys had four years. You drove this country into the ground. This country was so great. Yeah. How come, how come working class people are not voting for you or voting for us? I don't see the paid guys that show up there. Ask them, get in their grill, shut up. And if they don't shut up, hey, you get a question. If you don't ask a decent question, throw them out of there. Take them and throw them out. You got to start playing the same tactics. The reason the country's in the shape it's in for too long. The Republicans just went along with this little bow ties and, you know, going to have a, you know, going to have a thing of punch. This is not a cotillion. This is not wearing thin ties and, you know, reading Whitaker Chambers Witness. That's all great, but that's not what this is about. This is a fight for the direction of your country. This is like the guys in the Patriots in the Revolutionary War. This is like the Civil War. This is like World War II. This is a political donnybrook, a fight. And they're fighting and we're sitting around feeling good. We better not be feeling good now because President Trump's put it all on the line and they're coming for him. They're coming for him because they think they saw Wisconsin. They take him out. The whole thing, craters. They get a guy running around with a cheese head on the whole thing, craters. Trust me. These people are plenty tough and they're plenty smart and they're conniving. They got the institutions, they got the money, they got the power. They're taking it from overseas. The last thing they want is the American people to have the sovereignty of their nation back. They think we can just wait Trump out, We'll wait this out. He's least got another 12. He's got 12 years or 11 and a half years minimum. Yeah, we got a couple of cards up our sleeve. Not wasting our time on that one. They think we don't need, they need to worry about that. Don't impeach him in, in, in the midterms because of this Ed Dowd. We never really made the case. I mean, we would make it here, but they laid out the case of what President Trump inherited and what he's trying to reorient. Walk us through it, sir.
- [38:02]
Scott Bessant
Well, you mentioned in this monologue that MSNBC and CNBC are talking about how Trump's wrecked the economy, the middle class economy, the real economy was already wrecked going into the election. Trump won because of that economy. Real wage growth was minus 2%. And I've said before, and I'll say it again, Ronald Reagan had a similar setup, one in a landslide. He had a double dip recession while he restructured the economy. Bill Clinton, same setup, minus 2% real wage growth versus Bush. And he won and Trump won because the economy was already wrecked. The stock market, which is now, I guess, making headlines, was already in the process of topping since December. And what people need to understand is that the last two years of the Biden administration was a fraudulent economy. In every Fed cycle of easing and then tightening, the fraud comes out. Well, we had corporate fraud in the 90s, we had bank fraud that almost took the system down in the 0708 period. Then we had a 14 year easy money period and then an interest rate hike. And usually once the punch bowl's taken away and it has been taken away, interest rates are too tight, they need to come down. And there was fraud that propped up the last leg of this. And this fraud was the elephant in the room. Illegal immigration, 10 to 15 million people brought in in a four year span, majority of which in the last two years. That was a tremendous amount of money. It's easy to assume the all in economic cost for an illegal alien, which was a purposeful policy of the Biden administration outsourced to NGOs. The All in economic costs that worked its way into the economy using our balance sheet and deficits was about 50,000 to 100,000 per illegal. That includes getting them from Central America to the Darien Gap to the border into the interior of the US Setting them up with accommodations and then giving them food and shelter for the period that they're there. That's a very easy estimate. And that's about one. If you say 15 million illegals. Good. And that's one and a half trillion that was spent to prop up this economy through the NGO system. And it was fake, false. And that's why we had fraudulent non farm payroll numbers. We Suspect only about 2 million of the illegals actually got jobs. The rest are getting freebies. Doge is exposed. So much fraud, getting Social Security numbers, free benefits. I think the administration needs to really talk about the fraud that they've uncovered and how it propped up the economy. And the economy quite frankly started to weaken the moment Trump got elected.
- [40:36]
Stephen K. Bannon
It's just $16 trillion in the pandemic gone. $16 trillion. This is how you get to the 37. We started. 21 trillion, $16 trillion. The reason this thing was propped up is federal spending in the in The Congress went along with it and Biden went along with. I mean, we stopped it and turfed out McCarthy and that's got to stop. Inflation is not going to stop. To stop that. We have. Okay, for the people in cnbc, in msnbc, particularly Katie Turner, take your number two personal. Katie. Katie, I can tell right away that you were a math with tears person. Just saying. Maybe not. I think she said the other day she took calculus. That's okay. That's good. We have $25 trillion trade deficit, cumulative aggregate and $37 trillion of debt. That's the face amount. Got another hundred trillion dollars of, you know, contingent liabilities, I would call them. We're in hawk the 20. Part of the 37 trillion is that people not making enough money. They're buying the cheap goods sent over from China because they don't have the jobs here anymore. That's how you get to the deficit. Trade deficit's a real thing. $18 trillion since China's come into the World Trade Organization and got most favored nation status by Clinton and Bob Rubin and that whole crowd that the neoliberal neocons of the Bush, Clinton, they're all the same folks. And that's the gospel they're preaching here every day. And we're not countering it with economic nationalism. Up in your face. Brute force. Sorry, you don't like. This is what we're doing. The American people are going to get a great deal. What does Posobuk say? It's a great deal. It's not a good deal. It's not an okay deal. It's not a kind of a. It's a great deal. And that's why. Why do you think they're on MSNBC and cnn? New York Times, Wall Street Journal, Financial Times. Gillian Tet's up there. She's one of the smartest women in the world in Calvin Marcus. She's very upset. She's very upset. Hell, it's the Financial Times of London, the Wall Street Journal, the New York Times. That these people have anything in common or ever have the back of working men and women in the United States of America ever? No, they do not. Why do they hate Trump so much? They hate him because they think he's a traitor to his class. He's a billionaire, for God's sake. He's exposed the Congress, the long con, and that's what this has been. And Ed Dow just walked you through a couple of three numbers that they never wanted to talk about that were they running around with inflation, inflation, inflation and Talking about how bad inflation they were trying to cover it up. It's really not that bad. It's only 2%. Not talking about the cumulative, not talking about the decline in the purchase power of the dollar. Why? The BRICS nations were upset because they run a surrogates program. Hell, they got hundreds of economists and hundreds of business guys all coming out because they're part of a corrupt system and they want to take their hands off the levers of power. What could be simpler? Short break. 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. They're happening. You see it here in the war room and we all know it. The question is simply, are you ready? That's where Jace comes in. This isn't just a kit. This is a Jace case. It's a lifeline. It's a personal supply of prescribed emergency medications that puts the power back in your hands. Whether it's an unexpected illness or a global disruption of supply chains, you can act fast and protect yourself and your loved ones. This February, show them you care in a way that really matters. Be prepared. Get the Jace case today so you'll have the right meds on hand the moment you need them. Visit jacemedical.com and use the code Bannon B A N n o N at checkout for a discount on your order. That's jacemedical.com promo code Bannon. Get the Jace case and do it today. Here's your host, Stephen K. Bannon. Birchgold.com Take your phone out. Text Bannon B a n n o n at 989-898. Get the ultimate guide to investing in gold and precious metals in the era of Trump, now more than ever. Also go to birchgold.com go to the website birchgold.com.com Bannon end of the dollar empire. Get the six free. So, I mean, get them all, but get the six free. 1. Modern Monetary Theory, the idea that broke the world. Don't think we're the world's biggest margin. Call standby over at Substack. I'll put this up later. Tanvi Ratna Very perceptive. Trump's new tariffs aren't a trade tweak. They're a first move in a full spectrum reset. 9.2 trillion in debt matures in 2025. Inflation lingers. Alliance are shifting. She breaks and does a whole analysis that's the way to think about. Think about this smartly. The pieces of it. Remember on the pandemic, they want to do. Remember the World Economic Forum? Like Klaus Schwab retired the other day. They wanted to do what? The build back better. A bunch of pencil necks with PowerPoints doing TED talks. Donald Trump's changing the world with action. He steps in. You see that speech in the Rose Garden the other day? That's a man stepping into it and say, here's the way it's going to be. Let's give him a little backup. How about that? Everybody ought to be to the ramparts on this and he's not going to back off this. You got a one shot to do this, folks. You blink now, I don't want to hear any whining and bitching and moaning about, oh, this is so terrible, they sent all the jobs to China. Hell, he just got a 54%. If you add the 20 to the 34, he got 54% tariff. Chinese Communist Party, they ain't sleeping tonight. They're figuring out how we did. We got to do something with Trump. He just went to economic war. The CCP said, hey, suck on this. How about this? Deal with this. I respect you Xi. Deal with the 54% tariff, of which 20% starting immediately. This is not a TED Talk. It's not a bunch of foils. It's not some presentation, not a deck. Go to World Economic Forum, Davos. Let's have a deck. There's all those guys, they all weigh 98 pounds or 102 pounds, right? Get the thin suits and all the different colors. They're sitting there giving you a deck. How about a deck? How about a presentation? Or don't know, a presentation. Trump's changing the world. A world that you built that's screwing working class people throughout the world, but particularly in the United States of America. And he doesn't care if you like it or you don't like it. So get on board. Or if you aren't, listen, this is going to be remembered, folks. This is going to be remembered. Everybody climbed on. They all climb on. When Trump's winning, they all climb on November 5th. Remember, on the evening of November in Trump. Great, my phone's blown up. Isn't it amazing? People I heard from in years. Isn't it fantastic that he, oh, by the way, you had a prison, Steve. Isn't it great? Trump won. They all had the road to Damascus. All the people at hating for so many years, abandoned. They're all back after 10:00 after, after Pennsylvania and Wisconsin and Michigan. After all fell. They all. Yep. Tech bros. Facebook went in and started working out more. He getting Brode out, getting Dana White on his board. He's going to be. He's going to be a brother, gonna be a kung fu fighter. They all, all of them coming back. This is great. Let's have inaugural. Let's party. Where are they? I kind of. I think I've missed those voices the last couple days. Have I seen them up there about this? Maybe I missed it. Maybe my staff just didn't pull all those endorsements. Ringing endorsements. Where are all those Republican politicians? All down there begging him, kissing his ass to get an endorsement so nobody run against him. Tell him he's the greatest thing in the world up on Capitol Hill. Hell, they're getting the knives ready. Trump better not come up here. Be the ides of April. Do you think any of them have their back? They don't have his back. How many have come forward, went full throat and said, absolutely, this is 100% right. We're sticking with this. Trump's redoing this for the American people. Forgotten man and woman. They're all kind of faux populists. Much cosplay as Bernie Sanders. Where's Bernie in this? Oh, Bernie put out a sharply worded press release. Yes, you need terrorists, but this is not the way to mumbo jumbo. Bernie, Bernie, you're irrelevant. Go play in the corner. You had two shots of Hillary Clinton. He had two shots at the neoliberal, neocon mafia and you blinked both times. You know why? You're gutless, old man. Always drawing big crowds. Drawing big crowd. Hey, hapless fools would go to Bernie Sanders are going to remain hapless fools. Sorry. Not sorry. Oh, but he's got his opening acts. He had aoc. She's a fire breather. She's on top of her. She's got it. She understands it. There's two beauties. This is political warfare. You got one shot at this. Everybody for decade after decade after decade after decade has said the jobs all shipped and the jobs left and the drugs came in. They gutted the Midwest, they gutted the upper Midwest, they gutted New England, they gutted the South. And you see those people, you know, Stephanie, rule in that crowd on them. They're all, yeah, it's just too bad, you know, and they're making a pitch. They. They're not including the service economy. They're not including the service economy. There's no sustainable competitive advantage in a service Economy. I'll accept if you come up with an algorithm. I got it. The algorithmic age. I got it with. The only reason that you got. Come on. It was you granted these guys monopoly status. Let Lena Khan on them for. For a month and see how. How what big shots they are. Let Gail Slater take a shot at it. Oh, it's a service economy. Here all day. It's a service economy. We're not counting services and services so competitive. No, no, that's just not true. It's what you make, how you make it, how you produce it, how you grow it. That's it. I don't want to hear any whining if we don't win this moment. We're gonna win this moment. Okay? And remember, I'm taking names. I got my black book out, I'm Irish, I'm taking them. Writing that down with my number two pencil. Who's with us and who's against us? And I don't want to. After this, no more shot at coming back on the boat. We're going to shoot the people. Behave. You. If you jumped on the boat, you're going to swim back. You try to get out of the way. No, no, no, no, no, no. Shoot them. That's a metaphor. Hell, why do I care? We're banned everywhere. For good reason. And I'm damn glad of it. It's so detestable, what I've seen the last couple of days. The cowardice, the lies. When the American people, their livelihood, their pursuit of happiness, which I happen to read somewhere. Their pursuit of happiness in their children, in their grandchildren are on the line. The misrepresentations, the lies. Bald faced lies. Because those in charge of the money and the power are not prepared to pat you on the head and say, what a brilliant idea. Yes, Jack Bosovic, you're correct. Yes, Charlie Kirk, you're correct. It's a great deal. Why didn't we think of that? Why didn't we think of that? It is a great deal. Thanks for explaining that to us, fellas. Let's just. We'll get on board now. That's not the way this is going to roll, folks. Short break, Ed Doubt and others. Next. The April 15th tax deadline is coming and it's coming fast. Do you have unfiled tax returns? Can't pay the irs. The IRS is more than aggressive and more aggressive than ever. And the longer you wait, the worse it gets. Wage garnishments, bank levies, even property seizures are all on the table. You need to get ahead of this. You need to get ahead of it today. But going up against the IRS alone is a big time mistake. Take my advice. Call the experts at Tax Network usa. They know the system. They have an edge, a preferred direct line to the irs. They know which agents to deal with and which ones to avoid whether you owe $10,000 or $10,000,000. Their genius strategies are designed to quickly settle your tax problems in your favor. Tax Network USA's attorneys and negotiators have already resolved over $1 billion in tax debt. Let me repeat that. They've already resolved over $1 billion in tax debt. Tax Network USA can help you too, but you need to move. You need to move fast because April 15th is already here. Remember, if you get that letter, don't put it in the drawer. It just metastasizes. Talk with one of our strategists today. It's totally free. Stop looking over your shoulder. Stop the anxiety. Stop the worry. Put it all behind you. You call Tax Network USA at 1-800-958-1000, that's 800-958-1000 or visit tnusa.com Bannon that's Tax Network USA. Go to tnusa.com Bannon Curdhuman really trying.
- [54:32]
Tanvi Ratna
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- [55:07]
Stephen K. Bannon
7.
- [55:08]
Unknown Speaker
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- [55:34]
Stephen K. Bannon
By the time you turn 60.
- [55:35]
Unknown Speaker
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Stephen K. Bannon
That's code.
- [55:53]
Unknown Speaker
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Stephen K. Bannon
All one word.
- [55:58]
Unknown Speaker
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