Steve Bannon (10:04)
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. War ROOM here's your home. Stephen K Band Monday 7th April, year of our Lord 2025. So to give this to you in real time and to make sure that we can frame this so the war room posse can have a full and deep understanding of exactly what's happening. So last night, over the weekend, President Trump intransigent about any movement at all, even any no negotiations. It dug in in a hard no negotiations because remember, the trigger on the tariffs is on Wednesday. That's when actually the reciprocity starts. And so over the weekend, a lot of effort and discussion about setting up a process because you have, as people are tweeting out right now, you have 50, I don't know, maybe almost 100 countries. And when I say the 50, I mean all the big ones except the CCP are lined up. I just got are lined up. Perfect, thank you. Are lined up to come in and negotiate. And President Trump said all weekend, no negotiations. We're not doing this. The issue for President Trump is quite simple. You are in control of this process right now. You're taking incoming calls and proposals and ideas, but you're in charge of this proposal or you're in charge of this process. What you want to avoid is, remember on the show I've been talking about for the last couple years, we have $300 trillion in global debt at every level. And you have to avoid having a global margin call. Margin call is when the assets you own, whether real estate or stocks, start to drop in value and the bank comes back to you and say, hey, we need a little something else on top of what you gave us. You got to plug it or we're going to call your loan. That's called a margin call. Margin call in the situation would be at the hedge fund level for the hedge funds to start having particularly some of these smaller mid sized hedge funds. When I say small, I mean hedge funds are 10 and 20 billion dollars in today's market that are highly leveraged, making highly leveraged bets. Remember that from 2008. Well, you still got today those start having margin calls. Some of these banks start having what we call a credit event. You've already seen in Europe, some of these overleveraged companies already starting to have problems. Once you start having credit events, then maybe the process gets out of your hand. President Trump also, they're coming at President Trump from the courts. Jonathan Karl is reporting this morning over at I guess with George Stephanopoulos that he has been informed that conservative groups, certain conservative groups are looking to go to court to try to get a TRO against President Trump. Some are arguing that President Trump's emergency, calling this in for emergency for fentanyl and national security, that now he's talking about deals and he's talking about money, he's talking about jobs goes outside of that. He's being hit. Federal Reserve has now emergency meeting at 11:30am this morning. President Trump, they're coming at him from many different angles. The Nasdaq is now up 1%. The Dow is down about 930. But last night when trading on futures started, the dow was down 1500 points. It looked like it's me a total and complete meltdown. The Asian markets were a meltdown, particularly the Hang Seng, which is Hong Kong, China is in a total and complete meltdown right now. The people that financed all the factories and all the jobs going overseas, they're in, they're in a big hurt right now. The people that did this to us are in a big hurt. And President Trump has taken a tough stance, however and I think that's the reason the Nasdaq has flipped around. The Japanese have announced that they're coming and they're coming with a a proposal that would take care of all of President Trump's concerns, including what Peter Navarro is talking about a non trade barriers which is the key. And President Trump just tweeted out a moment ago or put up on truth that a negotiating is first time he used the word negotiating in a truth social. We're going to take a short commercial break. There's a lot going on in the world today and we're going to help explain it all to you here in the war room. Just back in a moment. You don't go out and buy a life jacket when the boat is already sinking and you don't buy gold when the economy has already collapsed. Clearly others are heeding this advice as gold hit an all time high the first part of 2025 multiple times. It's not too late for you. The company I trust to help you diversify into physical gold is Birch Gold. The company I buy my gold from. Birch Gold Special specializes in helping you convert an existing IRA or 401k into a tax sheltered IRA and physical gold for no money out of pocket. Just listen to this five star review, quote knowledgeable, helpful, non pressure, end quote. That's what you get with Burch Gold and that's why I've endorsed them for so long. Get your free info kit on gold by texting the word Bannon B A N N O N to 989-898. There's no obligation, just useful information. With an A plus rating from the Better Business Bureau and countless five star reviews. Text Bannon B A N N O N to 989-898 and let the experts at Birchgold help you secure your financial future. Today with gold, our host, Stephen K. Bannon. Okay, so starting last night about 6pm this was on Sunday when President Trump got ready to head back to Washington D.C. and he had the secretary treasury, that is. I want to give a hat tip to the brilliant team I have here at the war room, the my young charges, also the team in Denver, the great team at Rural America's Voice putting together. That was a magnificent cold open that gave you in about nine or ten minutes exactly the most important things that happened over the weekend in capital markets. The established order, and this was led by Jim Cramer all weekend, but particularly last night, were talking, they wanted to see Black Monday. Jim Cramer came out and said once again, this is if we can tee up and get ready his 2008. Remember in 2008. And this is why we played it a couple of times on Friday and Saturday. Cramer went on the Today show in 2008 on that Monday and said, if you have to. If you have to. If you need cash in the next five years, you need to sell everything today. If you need cash in the next five years, you need to sell everything today. That exacerbated a panic that was already out there. This is about orderly versus disorderly. This is about orderly versus disorderly. So far you've seen an orderly kind of a workthrough of what this new economic order is going to be because the United States is not going to be picked off anymore. You just heard Haas from the Council on Foreign Relations, Richard Haass saying, the patient's not sick. Well, bro, for the Council on Foreign Relations and all the elites in New York City and the Upper east side in the Hamptons, it's not bad because on borrowed money you've got your own hedge fund, right? You got the United States government putting a Keynesian, massive influx of stimulus all the time. You own all the real assets, you own the real estate, you guys own all the stocks. Of course it's good time. It's the best time to be part of the global elites. That's what President Trump is changing fundamentally. Last night at 6:00, what happens then? Basically the Tokyo opens and then it starts rolling through the Asian markets. Next you get Shanghai, you get Hong Kong and then you get Singapore. At the same time they start trading Futures. So you can get a sense of where the Dow Jones gonna be. It was 1500 at the Open last night on the futures market. So it looked like another brutal day right at the start. And all night it kind of hung in there. And President Trump on the plane back. And that's the brilliant cuts my staff did for President Trump. Hey, sounds like a personal problem. I'm dug in here. And of course you had country after country and company after company saying, hey, we want to come in and talk. Maybe we don't understand the formula, but we understand this. There's a problem and guess what, you're not going to tolerate it anymore. And this kind of hammer blow to the system, this traumatic blow to the system, which is what President Trump's been doing in national security. This is what the Russian rapprochement is about. This is what the whole situation with NATO is about. This is about setting up an order of which we're a hemispheric defense. Right. By the way, Rahim's going to be here at the bottom of the hour. He's heading out with Pete Hegse today. And guess where they're going. They're going to Panama because President Trump is quite serious and J.D. vance to Greenland. Last week he sent his secretary of defense coming back from the three island chains, remember Hawaii, Guam and Philippines and Japan, the three island chains he's now down. And guess where he's going. He's going to Panama. All because of hemisphere defense, all because of this massive pivot by the United States geopolitically and geostrategically. This is also the geoeconomic side. Remember my talk at CPAC in 2017? The three lines of work. Number one are America first, national security policy, number two is economic nationalism, and number three, wait for it, is deconstruction of the administrative state. President Trump is so far down the route of all three of them. The most significant changes in the world I think since World War II. I may even go back to pre the guns of August in 1914. This is a major, major, major reset. It really ends World War II is what he's doing. And he's not going to budge in this. Now the big change and the reason that the Dow is now only down. What's the Dow down? Dow's only down like 900. The Nasdaq is up, the S and P is up. Oh, excuse me. The dow is up 250 points. Last check. Now it's going to bounce around. We're not, we're not gauging everything. Just by how it, how it, how it moves, right? Things are going to bounce around. But the point is, at least at the start, it's not the meltdown that Jim Cramer and all the left wanted. They wanted panic today. They wanted absolute selling with no buyers. They want to trigger a margin call that would then trigger a credit event that would then try to. They would use that to attempt to destroy President Trump. That would be disorderly right now. This is quite orderly of just a kind of a workthrough of people's positions. And guess what? For everything people that said President Trump was compromised and that Elon Musk and the Tech Bros. All the people, all the reports that it's Bannon and these economic nationalists versus the Tech Bros. And they're going to be the hammer blow is to the Mag 7. The two people that he's given the biggest hammer blow to are kind of this phony tech broligarchs right in the Chinese Communist Party. The Chinese Communist Party may be having a death blow right now. May be having a death blow right now. Their economy was just on the bubble as it is, and it's totally export. There's all kind of happy talk, oh, they're going to change the consumer economy. They don't have time to change the consumer economy. They've tried that for seven or eight years. This is everything. And President Trump came in with a hammer blow to them. They don't even know how to respond right now. Their response, by the way, may be military intervention into Taiwan. That is why those exercises last week are not a joke. This is why the Korean situation of the coup d'etat in Korea that now the conservative president is out. This is all playing into it. And you have to stand by because right now, Xi may have to pivot to something like ultra nationalism to jack up the young people in college that, hey, the foreign devils are trying to destroy us economically. The two people taking the biggest hammer blows are the tech oligarchs. The tech oligarchs and their stocks. Trump's come right after them. And this is why there's some great tweets out overnight. The difference is that these guys are globalist. I mean, Elon Musk showed it over the weekend. It was so embarrassing, I didn't want to play it. Peter Navarro, though, just calling out, said he's nothing but a car salesman. But he put up. He put up. He talked to Salvini and the guys at the Northern League on a video talk he gave at their big conference and they had a Q and A. It Was embarrassing. You know, I've been saying, hey, he's a globalist and you know, I know the fanboys don't want to hear that, but what he said last night in the middle of the war that President Trump has in the defining moment when you have to lock in and lock down, he comes out and says he wants basically a no tariff zone between the EU and the United States. He essentially wants America to merge in or to after Britain Brexited, he wants us to merge with the eu. But the worst comment was about, and this is the mentality was about having European citizens come to the United States unfettered. It'd be like Shenzhen, it'd be like illegal alien gets through to Hungary, then you can go all the way, it gets through to Italy or Greece and you can go all the way to Ireland. He actually proposed that. And then this morning he's tweeting out, he's tweeting out Milton Freeman's video on the pencil. Stop humiliating yourself, okay? This is childish nonsense. President Trump is in a war and it's a man's war. And I don't mean that about gender. I mean, this is for people who are tough, who need to step into this moment. President Trump is saying, hey, the economic order that basically stripped America of her manufacturing base, the economic order that the entire world was dependent upon working men and women in the middle class in this country, in the United States of America, and that every person game, the system, it's all getting unmasked. Now, why is this turned around in real time? In about 20 minutes. And I'm not saying this will last. I think you have market movements over the next couple of days. But why did we not start at Black Monday, right? Last night at 6:00, it looked like this is going to be catastrophic. The New York Post lead story was Black Monday. Jim Cramer, Black Monday's coming. You got to dump everything. Because President Trump put us this tweet. If we can put it up for a moment, the Japanese. So you should understand, every nation on earth has been trying to get here to see President Trump to talk about this, but he said, no negotiations. Now you have to say, well, can't people come at least make their pitch? You know, some people may have a question about the formula, right? The formula, how you, how you derive this? Peter Navarro was quite blunt on TV over the weekend. This morning, Peter Navarro said, hey, this is just not about tariffs, the actual number. It's about non trade barriers, currency manipulation, counterfeiting, the non tariff barriers you put in to block American goods. And this is why, if you look throughout the world, you don't see a ton of American goods sold overseas. You go to Japan, Agree. You never see an American car. You don't see a lot of industrial product. We're looked now as a capital market and a provider of natural resources and a consumer market. President Trump is 1 million percent correct. You cannot continue. It's not sustainable. The only way it's been sustainable to date. Well, people say, well, Steve, the economy's so good is because you're running $2 trillion deficits every year. This is so obvious. It's so simple, and it's not sustainable. The trade deficit. President Trump is talking about the trillion dollars that's annual. The cumulative. Just like we have $37 trillion of debt, and we're adding a trillion dollars every hundred days. And they're fricking debt budget. The Senate and the House puts out has 4 and $5 trillion increases to the debt ceiling. So they're not real about actually doing. What men and women have to do is start to cut this federal budget. It's unsustainable, and it's just creating fiat currency by the Federal Reserve to play to do the fiscal irresponsible thing. And part of that is a defense budget that's now over a trillion dollars to underwrite the security of all these nations on the earth. It can't continue. And President Trump's not saying it can't continue. And this is what it is. The only question for President Trump is not that we are right in fighting the fight of the righteous, is how do you manage the process? How do you manage the process? You don't want the process to get out of your hands today. Jonathan Karl reported it. They're going to go into court to these judges to look for a tro. You heard Ben Shapiro and these guys say it up on the Hill. It's not Ted Cruz. Ted Cruz is virtually irrelevant. Who's relevant is Steve Daines. Steve Daines, who's had a career in Hong Kong and in China, is leading out. There's seven senators against Trump right now on the Record, including Thom Tillis. Folks in North Carolina, Steve Daines may lead at another five to 10 senators. The United States Senate, led by the Republicans, may try to intervene here and take the power away from President Trump. Everything's on the table right now. The key is that the Japanese are en route. And what did President Trump say? He used negotiation. He said they're coming over to negotiate. It's the first time that Word has crossed the lips of Donald John Trump. That is the pivot in the market this morning. Short break. How well do you sleep at night? Real peace of mind comes from knowing your family is prepared for anything. My Patriot Supply, America's most trusted name in emergency preparedness is offering a time limited discount on the best selling three month emergency food Kit. Now this is the basic the three month emergency food kit. This isn't your typical survival food. Each kit provides over 2000 calories and 100% of the recommended value of 12 essential vitamins and minerals daily for 90 days with delicious meals and extras including chicken, beef, fruits and veggies. We're talking quality meals that last up to 25 years in storage and still tastes like home cooked. The pandemic taught us how quickly store shelves can empty. Don't wait for the next crisis. Your three month emergency food kit includes free shipping, a disaster replacement warranty and 24,7 US based customer support. This special discount is available for a limited time only. Visit my patriotsupply.com now to secure your family's future with a hundred dollar discount. If you order by 3pm they'll ship your order within the same day. So you have peace of mind right away. Get my Patriotsupply.com by going to my Patriotsupply.com do it. Do it today. Use your agency Action Action Action. Your host, Stephen K. Ban. Okay, Marcus bouncing around. It's being attributed to a Kevin Hassett quote that they can't quite verify. I think CNBC put it up that Kevin Hassett said there'd be a 90 day pause to let everybody here negotiate. Now they're saying the White House is saying that's not true. They can't find the verification of that and so the markets bounced around. Here's the point. At the very mention there's a process you're going to get back 2/3 of the value lost. Just saying at the very mention of a process you're going to this is all about people are looking at a process. What's going to try to mess up that process. Federal Reserve's meeting a secret, not secret, a closed door meeting of the governors at 11:30. Jonathan Karl of ABC is reporting pretty well. How do I say this sourced that I believe it's conservative groups are coming at to go into legal think federal society are thinking of going to court today with certain of these attacks and trade organizations or lobbyist groups and are looking to go into court today to get a TRO on President Trump to stop this for a tro. Also People are thinking of going to court today to question the constitutionality of it. Also Steve Daines and others. Now Daines hasn't publicly committed. There have been seven already publicly committed including Tom Tillis has publicly committed to getting President Trump to back off this. My understanding is Steve Daines is leading an effort with another five or 10 senators behind the scenes. They're saying they're prepared to publicly come out and basically go against President Trump and slow this down. Once again people are looking at the courts to try to thwart this and or rhino Republicans. President Trump is dug in. He did say he put this out about negotiate that the Japanese are sending a team over and Japan's one of the thorniest. Korea's gonna be quite thorny. Places like Vietnam, you heard Peter Navarro. Peter Navarro said it's just not the, it's just not the listed rate of the tariff. It's also the non tariff barriers and for India and places like this it could get quite, quite sticky and quite and quite complicated. But there are also ways to get around that if you still have a trade deficit because remember the formula quote unquote is really based upon predicate upon trade deficits. Our face amount of our debt is $37 trillion going to 38. The trade deficit cumulative aggregate is about $25 trillion. 18 trillion of that has come from when China was granted most favored nation in wto sanctioned to become actually a true trading partner although in the category of a developing nation which they've never left. You know at the World bank they go to the developing nation window. Every institution that the globalist set up was to make it easier for China. Why that's where they made the real money in shipping off the PPC getting hammered today are people that are financially tied to that. Let me repeat this. The people getting hammered are the people financially tied to shipping all the jobs to China. President Trump and for all the happy talk and kind of missed for those that ever question President Trump being a populist and an economic nationalist, I hope the last four or five days have shown that President Trump has dug in on your side. The forgotten man and woman. He has put a full shotgun blast onto the Chinese Communist party. Full on 54% tariffs. They can't exist. It's not sustainable. They will collapse. He's also gone after the Mag 7. That's the seven stocks, the tech stocks that were kind of frothy and this is why the Dow Jones adjuster. I keep telling people it doesn't show the real economy because all tied to AI those are the ones the Mag 7 and other big tech oligarchs, globalist corporations have taken the biggest hits. And President Trump is adamant. Either you're going to bring your manufacturing back here and really create with the ecosystem of, of your supply chains. Right, Your supply chains. Or, or we're going to, we're going to, you're going to have high tariffs you have to come in on. So you got to deal with either get the money through tariffs or we're going to get the money through increased tax revenue of people, of corporations putting their plant and equipment here in higher, obviously tax revenue coming off citizens of this country. Now, while all this is going on geoeconomically, and we're going to walk you through the entire day, take a deep breath. President Trump's in control process. The only issue we have with President Trump and the path he's going down now, he controls the process the moment. And that can happen the moment that he doesn't control the process. And I'm less concerned right now with a court challenge. Of course they're going to try to tie Trump up or a political challenge coming from the rhinos in the Senate. The bigger issue to me is something like a margin call and a credit event that all of a sudden things start to spin where you just can't control them. And that's why you got to be very careful on this. I know President Trump is monitoring it with his team of Scott Besant and the people over at the treasury and also Peter Navarro. Peter Navarro is out there and Peter Navarro talking for President Trump ain't backing down an inch. The other is geopolitically, and this is critical because the trade deficit and the debt are inextricably linked. They're kind of two sides of the same coin. And that is America spread out over Hell's Half Acre and everybody taking advantage of us. Now, the massive pivot that President Trump has had, because you think about it, we're not going to be spending the money on defending Western Europe or the Gulf Emirates or even around the South China Sea. Eventually, this is all going to go back to hemispheric, a hemispheric defense. Not that those, those areas are not important. And quite frankly, the South China Sea and around Taiwan, where they have those chip plants is vitally important to our economy. Whether you like it or not, whether you take the high moral ground that Taiwan's independent, you just say, hey, I don't care, and we're never going to defend them. The geopolitical pivot is monumental. And he's saying we're going to go back to The Monroe Doctrine 2.0. We're basically going. And part of that's Manifest Destiny. And here it is. The pivot of the world is not the Eurasian landmass. It is not Mackinder's. Whoever controls the Eurasian landmass controls the world. He's saying the pivot for the United States of America is the vast Pacific, okay? Starting at those three island chains, that vast Pacific that is a natural barrier to the Eurasian landmass and protects the United States. If you look on its east coast. What you have to do is go from Greenland all the way to the Panama Canal. You go from Greenland to the Panama Canal. You take the Panama Canal, you work out something with Greenland, you establish naval bases there, particularly submarine bases, places you've blocked the Russian Navy from the Arctic. You actually have a play then to make sure that China, the CCP and the Russians can't come at you through the Arctic. In addition, you clean out the CCP in the Caribbean, which has been absolutely horrific and setting ourselves up for another Cuban Missile crisis around Cuba or Bahamas, one of these other locations where the CCP is all over, you control the Panama canal. And the CCP's navy goes back past the three island chains. And Bob's your uncle today, Pete Hegseth. And remember Pete started his tour by doing what? Flying over the vast Pacific, which is the heartland of the United States, strategically to Hawaii, the third island chain, then to Guam, the second island chain, and then to the Philippines and Japan, the first island chain. Today. The Secretary of Defense will leave early this afternoon. And go where? He will go to Panama after J.D. vance, the Vice President of the United States with Waltz, the National Security Advisor last week went to where? Greenland. Today, going with him is our own Raheem Kassam. Raheem, put it in perspective. How important is this? The Secretary of Defense is actually going down to begin the process of our reclaiming the Panama Canal from the Chinese Communist Party, Sir.