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Episode 4396: Turn Around Tuesday; Markets Bounce Back
Episode 4396: Turn Around Tuesday; Markets Bounce Back ...
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- [00:00]
News Anchor
The Dow is up more than 700 points, while the S and P and Nasdaq futures have added more than 1% in value. It comes after another volatile trading session yesterday tied to President Trump's tariffs. But the president says he's not backing off his trade wars. And when asked if the overall tariffs are permanent or open to negotiation, a point that his adviser struggled to clarify last week, the president insisted that they can both be true.
- [00:35]
Scott Bessen
Would you be open to a pause.
- [00:37]
Senator Ron Wyden
In tariffs to allow for negotiations?
- [00:39]
Scott Bessen
Well, we're not looking at that. We have many, many countries that are coming to negotiate deals with us, and they're going to be fair deals, and in certain cases, they're going to be paying substantial tariffs. There'll be fair deals, there can be permanent tariffs, and there can also be negotiations because there are things that we need beyond tariffs. We need open border borders. So we're going to get fair deals and good deals with every country. And if we don't, we're going to have nothing to do with them. They're not going to be allowed to participate in the United States. And I will say this, virtually every country wants to negotiate. If I didn't do what I did over the last couple of weeks, you wouldn't have anybody wants to negotiate. We would have gone to these countries. You want to talk. And they were, well, we don't want to talk now. They're coming to us.
- [01:34]
News Anchor
Well, the tariff battle with China is escalating to a whole new level this morning. In a social media post issued yesterday, President Trump threatened an additional 50%. 50% tariff on China if the communist nation did not withdraw its 34% retaliatory tariff on US goods by today. In response, China said it would, quote, fight to the end and take additional countermeasures against the United States. The world's second largest economy hinted that more retaliatory tariffs against the US could be coming at the same time, the European Commission has proposed counter tariffs on 25% on a range of US goods in response to President Trump's tariffs on steel and aluminum. That's according to a document seen by Reuters, which revealed the tariffs on some goods would take effect on May 16 and others later in the year.
- [02:36]
Market Analyst
And the green is going to light up on your screen. The opening bell has rung that Press the button and off we go. I'm eager to see how high we go in the first few seconds of business. The answer is we're up a lot. 1400 points on the Dow, still rising. That's over three and a half percent significant gain. And look at that. Every single one of the Dow 30 in the green, somebody is buying what was one one has just popped into the red. I know it popped back into the green. So that's a full house of green. The S&P 500, that's up more than 3% 3 and 3rd percent, 169 points. The NASDAQ Composite solid gain right there. We are 3.7%, 585 points.
- [03:17]
Scott Bessen
Earlier on the show this morning, Treasury Secretary Scott Bessen joined us and had.
- [03:21]
News Anchor
This to say on where the US.
- [03:23]
Scott Bessen
Stands on tariff negotiations. President Trump has maximum negotiating leverage right here, right now. And I think it would be a mistake for anyone to think otherwise. And many of, as I said, many of our trading partners, they have queued up and they have kept their cool. They have not escalated and they will get priority in the queue. You know, I think it was a big mistake, this chopped Chinese escalation because they're playing with a pair of twos.
- [04:02]
News Anchor
We can now look at Republican reaction. A bipartisan Senate bill that would curtail a president's power to implement tariffs has gained the support of six additional Republicans. Republican Senator Chuck Grassley of Iowa is co sponsor of the bill. And now Senators Jerry Moran, Lisa Murkowski, Susan Collins, Mitch McConnell, Thom Tillis and Todd Young have all signed on to support the measure. The legislation would require a notify Congress of a new tariff within 48 hours of implementation and explain the reasoning behind it. It would also require new tariffs to expire after 60 days unless Congress approves them. The White House has already said it would veto the bill if it were to pass both the House and the Senate. Meanwhile, two sources tell NBC News that during a House GOP conference call on Sunday, Republican Congressman Darrell Issa of California asked for a detailed briefing from the on the tariffs. House Speaker Mike Johnson, for his part, asked that members trust the process and the president. In addition, he told them he'd arrange for someone from the administration to talk to the conference. The rumblings in the House come as the upper chamber has grown more vocal in their concerns.
- [05:22]
Market Analyst
And the green is going to light up on your screen. The opening bell has rung. They press the button and off we go. I'm eager to see how high we go in the first few seconds of business. The answer is we're up a lot. 1400 points on the Dow still rising. That's over three and a half percent significant gain. And look at that. Every single one of the Dow 30 in the green. Somebody's buying one. One has just popped into the red. I know it popped back into the green. So that's a full house of green. The S&P 500, that's up more than 3%. 3 and 3rd percent. 169 points. The NASDAQ composite solid gain right there. We are 3.7% 585 point doesn't.
- [06:03]
Senator Ron Wyden
Why do you think the market might turn around?
- [06:05]
Scott Bessen
It's finding a bottom now. It's finding a bottom now. But look, here's the thing. It, it's going to shift over and it's going to be companies in The S&P 500 who are the first to produce here. Those are the ones going to lead the recovery and it's going to happen. Dow 50,000. I guarantee that and I guarantee no recession. Okay. Why? Because when we pass the biggest, broadest tax cut in history within a matter of months, that's going to be a great stimulus. There's not going to be any inflation. We've already had a significant drop, a huge drop in oil prices. Laura, that's like a point off the cpi. We're going to have lower yields of mortgage. But again, the idea that the speaker of the House, the third most powerful person in America can't has no better answer after $11 trillion of wealth wiped clean than to say trust the process.
- [06:59]
Market Analyst
I've been in the House.
- [07:01]
Scott Bessen
That leaves a lot of members of the House not trusting the Speaker.
- [07:07]
Market Analyst
Yeah, it does. I mean, I guess that's Mike Johnson's way of saying we have no collaboration in this process. It's not just true of Republicans in Congress, Republican leaders in Congress. It's true most of the time seemingly of Trump's cabinet officials. People like Scott Besant of Treasury are clearly not in the loop here and find themselves floundering on TV trying to explain what Trump has just done. Look, I think the sort of deeper problem here is trust in the American system. The world has got used to over history and over dealing with America. The very famous, justly famous checks and balances that are built into the American system. What we have happening now is essentially a king or Roman emperor crooking his finger and the market goes up to trillion, uncrucking it, it goes down 2 trillion. That kind of power in one man is an extraordinary situation that I think is causing real nervousness. We've been amongst foreign investors and you know, you know that huge share of American debt, of US treasury debt is held by foreign countries. And yesterday we started seeing 10 treasury bonds and 30 year treasury bonds being Sold off. These are the safe assets that you fly to. You know, in Covid in the meltdown, whenever there's a panic, you flee to treasury bonds. I think that there's a reevaluation now going on about how safe those assets are. And that's because the foreign holders of these assets are worried about who's in charge of the United States. The speaker doesn't know what he's going to do next. His treasury secretary know what he's going to do next. This is essentially a Roman emperor having fun with this extraordinary power over global asset markets. It's not a good thing and it's not a very American thing.
- [09:16]
Scott Bessen
This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on this people. You're just not going to 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.
- [09:57]
Market Analyst
War ROOM here's your host, Stephen K. Banner.
- [10:06]
Scott Bessen
It's Tuesday the 8th of April in the year of the Lord 2025, at least this morning overnight in the futures market in Asia and even in Europe now. Looks like could be turnaround Tuesday started that way in the stock markets here, Dow Jones S and P, et cetera. Kind of a robust bounce on heavy trading as it appears now that the nations of the earth are taking President Trump and Secretary Besant and Peter Navarro seriously, that this is a new reordering of the world trading system. President Trump is standing up like no one's ever stood up for American workers in to be brutally frank about the history of the United States, all the populist leaders, all the Democratic leaders, even Ronald Reagan, no one's ever stood up for American workers in the American middle class like President Trump. He is bending the nations of the earth to the sovereign will of the American people. They elected President Trump and they elected him on this, that he was going to put America first and he was going to stop the globalists from stealing from this country, from ripping off this country. And that's what's happening. Ed Luce, the last gentleman there is one of the senior Editors from the Financial Times of London. And at the end he goes, I mean they're just in a tizzy. How can one man have this kind of power when Speaker Johnson is just repeating the mantra of the war room, Trust the process. What do we say over the last couple of days? You have to just set up a process. If you set up a process, and I may say you're negotiating just to hear your trading partners come in and say, hey, we, we, we may have a different calculation on, on the reciprocity. We don't understand how you calculated currency manipulation and counterfeiting and all the other non tariff barriers we put up. So there are no Fords sold into Japan or into South Korea. By the way, President Trump just put up a huge post about South Korea that they've called him the interim president there because they've had a coup by the Chinese Communist Party. The interim president there is all over. And sending a team also to sit down is as is Japan. The hammer's been dropped on, the hammer's been dropped on the Chinese Communist Party. We're going to have more of that as the morning unfolds. But to Scott Bessen's point, we have maximum negotiating leverage and we know President Trump is a maximalist. There's the, there's right there from South Korea, President Trump going through, you know, South Korea has been particularly for non trade barriers, has been very tough. Japan's been very tough for non trade barriers. The EU is very tough for non trade barriers. This is all changing in front of us. And what do you have, you still have recalcitrant elements that owe their political careers of President Trump. Thom Tillis of North Carolina and others trying to work with Democrats. And Democrats say that they're supporters of the working people and supporting the unions and supporting manufacturing. Outside of Fetterman and Ro Khanna, that's just not true. They're siding with including Elizabeth Warren. They're siding with the sociopathic overlords of easy money on Wall Street. They are siding with the narcissistic globalists of the apartheid state of Silicon Valley. This fight can be narrow, just could be boiled down to two things. Number one, to bring high value added manufacturing jobs back here to the United States of Americ and to have American citizens fill those jobs to recreate the dynamism of America as a manufacturing superpower. This fight continues. The Kochs and Leonard Lee are taking President Trump to court, going to a federal court. Does that surprise you? Big court reversals on trying to stop President Trump on the unitary executive theory or as some of the war room engine room tells me, hey, Steve just called. Article two. He's just being president, not a theory. It's a fact. I'm listening to you. Short commercial break It's a morning of Turnaround Tuesday here in the War room. You don't go out and buy a life jacket when the boat is already sinking and you don't buy gold when the economy has already collapsed. Clearly others are heeding this advice as gold hit an all time high the first part of 2025 multiple times. It's not too late for you. The company I trust to help you diversify into physical gold is Birch Gold, the company I buy my gold from. Birch Gold specializes in helping you convert an existing IRA or 401k into a tax sheltered IRA and physical gold for no money out of pocket. Just listen to this five star review. Quote knowledgeable, helpful, non pressure, end quote. 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- [16:13]
Senator Ron Wyden
Bipartisan privileged resolution to end the latest.
- [16:17]
Scott Bessen
Crop of global tariffs that are clobbering.
- [16:21]
Senator Ron Wyden
American families and small businesses.
- [16:24]
Scott Bessen
Members on both sides of the aisle ought to know that this is a call to action and Congress must step in to rein this President on trade.
- [16:32]
Senator Ron Wyden
Thank you Mr. Chairman. Thank you Senator Wyden and Ambassador Greer.
- [16:38]
Scott Bessen
You may now make your statement.
- [16:41]
Senator Ron Wyden
Thank you Chairman Crapo, Ranking Member Wyden and members of the Committee. I appreciate you taking the time today for this hearing. Last Wednesday President Trump declared a national emergency in response to the large and persistent trade deficit that has built up in recent years. This deficit is driven in part by non reciprocal tariffs, trading barriers and other economic policies pursued by our foreign trading partners. The situation is urgent. President Trump imposed tariffs to address this emergency and these measures are aimed squarely at achieving reciprocity and reducing our massive trade deficit to reshore production in the United States. This national emergency declaration and tariff action is the most significant change in US Trade policy since we allowed China to join the World Trade Organization. The American working class in particular has suffered concentrated losses from the so called China Shock and other Adverse effects of past trade policy and the conditions that give rise to this massive trade deficit. You've heard some of these numbers before. The United states has lost 5 million manufacturing jobs in 90,000 factories since 1994. President Biden left with a 1.2 trillion trade deficit in goods, the largest of any country in the history of the world. The United States share of world manufacturing output declined from 2001 to last year. In the fourth quarter of 2024, US manufacturing as a share of gross domestic product was the lowest it had been in 20 years. During COVID we were unable to procure semiconductors to build our cars or materials for pharmaceuticals and personal protective equipment. During World War II, we built nearly 9,000 ships. Last year, the United States built only three ocean going vessels. Our agricultural trade balance, which historically resulted in trade surpluses for our farmers, was in deficit the last two years of the Biden administration and likely will take some time to recover. These are all serious indicators of an economic and national security emergency and we can't ignore it. One important driver of these negative trends has been unfair, unbalanced and nonreciprocal trade. This includes the effect of higher tariffs imposed by other countries on the United States. The effect of non tariff measures that promote other countries exports and obstruct US Exports. And other foreign economic policies favoring overproduction and degrading America's manufacturing capacity. And the lack of reciprocity is an important driver of our global trade deficit and with particular countries. So it's common sense to focus on these indicators. For example, the European Union can sell us all the shellfish they want, but the EU bans shellfish from 48 states. The result is a trade deficit in shellfish. With the EU, we only charge a 2.5% tariff on ethanol, but Brazil charges us an 18% tariff. The result? We have a large trade deficit in ethanol. With Brazil, our average tariff on agricultural goods is 5%, but India's average tariff is 39%. You understand the trend here. Our trade deficit driven by these non reciprocal conditions is a manifestation of the loss of the nation's ability to make, to grow, to build. And the President recognizes the urgency of the moment. On the first day of his second term, President Trump issued a comprehensive memorandum setting out his trade policy directive. And over the past 10 weeks, he has executed on nearly all of these priorities. He has tightened tariffs on steel and aluminum. He's imposed new measures on auto and auto parts not made in the United states. And on April 2, the president declared the national emergency that we've discussed. And so the President has imposed a reciprocal tariff along with a global baseline tariff to achieve reciprocity with other countries and to drive the dangerous deficit down. And the present strategy is already bearing fruit. Over the past few weeks, a planned layoff for an auto production shift in Tennessee has been suspended. Another automaker is hiring additional employees and expanding overtime to increase auto production in Indiana. Companies have announced $4 trillion in new investment in the United States. Nearly 50 countries have approached me personally to discuss the President's new policy and explore how to achieve reciprocity. And they've spoken with many members of the administration. Several of these countries, such as Argentina, Vietnam, India and Israel, have suggested that they will reduce their tariffs and non tariff barriers in line with the President's policy. And these obviously are welcome moves. Our large and persistent trade deficit has been over 30 years in the making and it will not be resolved overnight. But all of this is in the right direction, particularly as we start to negotiate with these countries. We must move away from an economy that's based solely on government spending and the financial sector. And we must become an economy based on producing real goods and services that provide jobs for working class and middle class Americans in their communities. This adjustment may be challenging at times. And in a moment of drastic overdue change, I'm confident, I'm certain that the American people can rise to the challenges they've done before. I appreciate this committee's interest in President Trump's trade agenda. I'm glad we're talking about this. That's created debate and we may not agree on everything, but I know that you want to do what's best for America. So does the president and so do I, and we'll collaborate together on this. Thank you again for your time and I look forward to our conversation.
- [21:42]
Scott Bessen
Okay, thank you. Let me have it right there at the Senate Finance Committee. Okay. The Senate Finance Committee is having Jameson Greer right there. War room posse. He was Lighthizer's deputy. He is now the ustr. He's taken Bob Lighthizer's position. He's a Cabinet official. Ambassador Jamison Greer, he's getting grilled today by the Senate Finance Committee. That opening was the senator from Oregon, Ryan Wyden. And Wyden is sitting there and saying this is a total failure as you have 100 countries stacked up. South Korea, Japan, the EU have already said they want to come in and talk. Also said why zero tariffs alone are not enough. This backs up what Peter Navarro said the other day. Peter Navarro, obviously he and Scott bessant are running this deal with Jameson Greer. So those three are your key folks doing this. Wyden is trying to be part of a rebellion in the Senate. And this is why guys like, like Thom Tillis and others, Mitch McConnell are traitors to MAGA and to the American people by backing these radical Democrats. These Democrats are supposed to be for the people, for working class people, for the middle class. Absolutely not. They're showing right now they're running dogs for Wall street as they try to come in and support the globalists. Very simple. You're either on the nationalist side here or you're on the globalist side. Everybody that's criticizing President Trump, everybody's coming in. And now they're trying to take shots at. They're trying to take shots at Peter Navarro. Peter Navarro, he's a honey badger. Not just that his policies are winning. He knows this, the numbers. He's running for the president. The president's dug in hard, dug in as hard as I've ever seen. No president of the United States has ever taken on the global system and he's breaking it in front of you. And of course, people are saying, oh, this is absolutely terrible. It's going to be a massive, and is already a massive benefit to the American working people. This is the reason that you have almost a trillion dollars now of commitments of major companies bringing plant and equipment back here for manufacturing purposes now bringing back the supply chains, the rest of the ecosystem that goes around bringing your plants in. This is a hardball negotiation. That's why President Trump didn't blink. Actually. The tariffs still go in. April 9th is when the reciprocity kicks in. Now, individual countries, as they come in, may or may not get advances. Depends on how serious they are. But right now, President Trump's totally dug in, and he's very much dug in and kind of singled out the Chinese Communist Party because the Chinese Communist Party is absolutely. That is the. I would say the point of the exercise is we don't get China right, the rest of it doesn't matter. You have to get China right. And I believe he's doing the right thing with China, which is to break right now, the Chinese Communist Party. The tariffs alone, because of their retaliatory nature, what the CCP did, the tariffs on China, I think, are 104%. And let's say this, they're not a functioning economy with that. They don't have a huge consumer market. They've tried to do that. I had a senior executive at one of the most important financial papers Try to convince me the other night that their consumer market was going to see China through. That's absolutely not correct. She knows that the senior cadre leadership of the Chinese Communist Party know this. So right there you see Ron Wyden said there's two angles of attack on President Trump. One is going to be this political angle to try to gin up the Senate, particularly to thwart President Trump's plan. And he let guys like Ron Wyden run trade policy. President Trump declared a national emergency. He's in charge of this. And so far, to be brutally frank, it's working magnificently. Stock market has rebounded. And remember, we're not saying fluctuations in the stock market are so important, but the opposition of President Trump. Cnbc, msnbc, the New York Times, Washington Post, Wall Street Journal, they tried to gin up a crash, they tried to gin up hysteria, they tried to gin up a panic. And the American people just sat there and go, hey, we see what Trump's doing. We're not selling, we're not in a panic mode. The hedge funds that back the globalists, the highly leveraged hedge funds that help send the jobs over to China and still deeply invested over there. Yeah, they got a little nervous, started dumping their shares and sometimes maybe even forced to dump some shares. But that's their problem. It's not President Trump's problem. It's not the American people's problem. That's their problem. Sounds like a personal problem. This process so far has worked magnificently. The nations of the earth have had. This is the same type of wake up call headshot that he gave the administrative in deep state. This is exactly what he's doing geopolitically. Geopolitically dropped another bomb yesterday right in front of Bibi. Hey, Bibi's coming. Remember, Bibi's coming over to pitch a military, military invasion or an air attack on the Persians nuclear, nuclear compound. President Trump says, oh, by the way, at the thing. Oh, by the way, we're in one on one senior level negotiations about that. And we're meeting next on Saturday at the highest levels. Next question. President Trump go back to the three verticals on national security. Completely reordering the geopolitical realities of the world off of the Eurasian land mass to a hemispheric defense. Number two, on the geoeconomics of it, he is bending the world trade system to support and benefit citizens of the United States, particularly working class, that it all rests on their shoulders anyway. And last, he's taking on the administrative state in the deep state. The Kochs and Leo Leonard are running to court on trade. They don't trust the political process to stop Trump. They don't, they don't think that the countries of the world will stop him. They're running to guess what, a federal judge to try to stop President Trump. Note to Leonard Leo, he ain't stoppable. Short commercial break on turnaround Tuesday in the war room, 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 bestselling three month emergency food Kit. Now this is the basic the three month emergency food kit. This isn't your typical survival food. 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- [29:41]
Senator Ron Wyden
With other countries that if they want to have reciprocal trade with us, that's something that we need to consider as well. And we expect them not to discriminate against our services companies. We have some of the most competitive in the world. I agree with you and to me that's part of this calculation. I wrapped up with the services question because it seems to me it's classic Donald Trump, really good at talking about problems, even saying that there is some reason to go forward identifying a problem, but pretty damn bad at fixing them. And there's going to be a whole lot of collateral damage in the process if you all continue with these trade policies and services and in other areas. Thank you, Mr. Chairman. Thank you, Senator Cornyn.
- [30:19]
Scott Bessen
Okay, let me have it. The last thing we need to hear is from Cornyn Wright, Attorney General Paxton, Ron Wyden there throwing the prams. He's big mad. He's Big mad. You know why? He was one of the first guys came over and saw us in the first term. He thinks he's Mr. Trade and Tariff. Such is not the case, sir. You've really never stood up for the American worker and now you're getting smoked. He's big mad. A lot of people are big mad today. A lot of people going after Dr. Navarro. Folks got to understand Dr. Navarro. Peter Navarro is pretty tough nut. I know the doctor quite well. Consider him not just a close friend but also a colleague. He's a. He's just an incredible piece of work. And nobody's got the president's back like Dr. Navarro. Of course he's all over media, but his plan is rolling out and I think it's rolling out very smartly. With Scott Besant right there is Jameson Greer. And Jameson Greer is going to be taking incoming from the Democrats. The Democrats who should have done this, who should have stood up for the American people, who should have stood up for the American worker and never did abandoned them for the sociopathic overlords of easy money on Wall street in the apartheid state of Silicon Valley and slobbered all over big tech. The tech broligarchs. Where are all the tech broligarchs? Haven't seen the broligarchs come in and really have President Trump's back on that been noticeably quiet. I would actually say crickets. Folks over there should understand this is to the core of President Trump's being. This is why he ran for President of the United States, to turn this country around and particularly turn this country around in manufacturing. This is the issue that has energized him for decade after decade after decade and finally convinced him along with mass, the mass immigration, the invasion of the country that was going on of how America was getting weaker, how America was not great like it used to be and he was going to come in and return America to her greatness. And so he is doing it and taking on all comers. If you look at the institutions of the world, this has never, this has never happened. I don't think in world history one individual with a loyal set of followers in a political movement are taking on every institution that has failed the American people, starting with the Congress, starting with the media, the law firms, the universities, high culture, low culture, just even the woke military, the woke elements in the military now the international trading system. These are every country the world's coming at him. The eu, Germany, France, Japan, Korea. And they're all after realizing he's not going to be budgetable he won't budge. Okay, fine, fine. I got it, I got it. Take a phone call, get us in the queue. Let us come over, see Bessant and see Navarro and see what we can figure out. And the political class in Washington D.C. is actually stunned and shocked. They thought they had him. This is why the media spent so much time trying to create hysteria. Trying to create hysteria. You know what I haven't heard in the last day? Where's the signal chat? Where was that last thing? They got to go from one thing to the next to the next. Their new one is going to be recession. Recession is going to be here. Or service industries. Ron White was saying the service industry. You're not concerned the service industries. You can't build a nation's vibrant economy off service industry. Sir, we're not Singapore. Okay, you got to get the joke here of what the United States is and how the United States is empowered. It's not off service industries. Like I said, we're not Singapore. Or you'll turn into what Great Britain has become, which is what the Tory party turned them into in Blair, in that part of the labor government, which was Singapore on the Thames. This is why England's having such a tough time surviving. Right? And much of England is nothing more than a developing nation economically because they've abandoned what they abandoned. They've abandoned manufacturing, high value added manufacturing. And that is coming back to the United States. President Trump is hammering that out even as we speak and they hate it. They're going to hate him even more. And here's the beauty. You're unmasking everybody. It's not Republican and Democrat. Just please leave. Those are old, old, old kind of groupings that are essentially irrelevant. It is populist nationalism versus elite globalism. And the globalists, the ones who are not in the elites, who are in service to the elites. The great unmasking is happening. And you see, you're seeing this by people that are talking about open borders with Europe and bringing, you know, let's just change. Let's say everybody just come across the border and work where they want to work. No, that's not going to happen. That's not going to happen. The American citizen is not going to be flooded with Europeans that come over here and take their jobs, particularly the high value added jobs. That is never going to happen. That is repulsive. Even as a thought. Just like we stopped the invasion on the southern border for lower skilled against Hispanics and African Americans. Now to have Europeans come in and go after the middle class and the tech jobs and the managerial jobs. It's not going to happen. It's not going to happen. Where they come in against every ethnicity and religion and race, take all the plum jobs. It's not going to happen. It's not going to happen. If people bring it up, don't actually understand the core of what this argument's about. Somebody that understands it. President Trump. And President Trump has dug in and dug in quite hard on this. I want to go, by the way, this is the best time ever to go to Burscol. Take your phone out. Just Text Bannon at 989-898. Get the Ultimate Guide for investing in gold and silver, other precious metals in the era of Trump. Right now, with a stock market that's going to go up, it's going to go down. You're going to have good movements, you're going to have bad movements. One thing you've got is volatility and turbulence. You have a lot of volatility and turbulence. You need to know why gold has been a hedge for 5,000 years of mankind's history. So start there. You can also go to the end of the dollar empire we laid out in now six installments. And I'm working on the seventh installment even as we speak to make sure we give you a primer for all of it. Taj, Gil. Hey, Taj. Now more than ever, Taj Gil's with me. I asked him to come on this morning because I need another pot of warpath coffee put on because it's been that kind of last couple days. Haven't gotten a lot of sleep, brother. My warpath coffee's got me through it, though. My Mariner's blend, my dark roast. What do you got for us?
- [37:17]
Taj Gil
We've got plenty, Steve. We got 15% off this week for the war room posse. The website is promo code War room. We are the coffee with a mission. We are the champagne of coffee. We've got over 8,000 five star reviews on our site. If you haven't tried it, you have to try it is incredible coffee. People absolutely love it. It is the best coffee. You can.
- [37:44]
Scott Bessen
Now tell me real quickly, how do you guys brew this? How do you guys brew this? And I know you're holding the line on, on, on, on cost so that our prices are in line, but it's, it's amazing coffee. Give people. I just want to go through the special brewing because, man, it makes it. It is the champagne coffee. You don't need cream, you don't need sugar. If you've never Tried coffee black because it's got too much, you know, it's too acidic. That's not this coffee. In particular, the darker roast, which I think are the just the better for coffee aficionados. The espressos and the French roast, this is where you can really drink it and drink it black. Tell me how you do it.
- [38:20]
Taj Gil
Yep. So we roast it on a perforated drum. And by doing that, we don't burn the coffee at all. We actually caramelize it when we roast it. So you don't need milk and you don't need sugar to drink our coffee because it's not acidic and it's not bitter or sour at all. So you can just drink a nice cup of smooth black coffee. And it is amazing. People actually love it. We actually convert non coffee drinkers into coffee drinkers and then we bring people over from other brands. This is really good coffee. I think I told you during the war, when I was going back and forth, I was in Kuwait for Ramadan and I had the best cup of coffee I've ever had there. And I never drank coffee that wasn't bitter and acidic. So that. So when I decided to start coffee, that's the coffee I was going after, was a very smooth cup of coffee. And by roasting it on the perforated drum, we don't burn it at all. And sometimes the tips of the burn, the tips of the beans get burnt. And that's called tipping. And that also brings the acidity and the sour taste to the coffee. So we've really perfected this smooth coffee. And you don't need milk, you don't need sugar. You can drink it straight black. It's, it's amazing coffee. If you haven't tried it, I highly recommend you try it. The website is Warpath Coffee. And for the war Room posse, use promo code war Room. And I think we'll convert you to being a Warpath coffee drinker. And it is the Champagne war coffee.
- [40:01]
Scott Bessen
And you get to use the war room promo code. You get a big discount and make sure you do that. And read some of the 8000 five star reviews. Read some of the 8000 five star reviews. That is your com, your compatriots here in the war room. Taj Gar. One more time, where do people go?
- [40:17]
Taj Gil
Warpath coffee is a website promo code War Room. And check out the 8,000 five star reviews that are real reviews not paid for Warpath Coffee promo code war Room. And check out the reviews. You're going to love the coffee. If you try It.
- [40:36]
Scott Bessen
Thank you, brother. Appreciate it.
- [40:38]
Taj Gil
Thank you, sir.
- [40:39]
Scott Bessen
The return customer, the return customer right here is also off the charts. The advisors to the company that advise these small companies when they start has never seen anything like it. The reason is once you try it, you will not drink another coffee. This is the coffee you drink. And I say that as an aficionado and I'm a devotee now of Warpath coffee. Just to reset so today in the courts, huge victory from President Trump last night on the illegal on the aliens enemies of 1798 upheld at the Supreme Court level. So President Trump, as commander in Chief, can keep shipping Venezuelans out of the country, particularly ones designated in this terrorist criminal group. We'll try to have a breakdown of that in the second hour. If not, we'll do it at 5:00. Tonight on this massive taking on all comers and reorganizing our trading, President Trump is, you know, no way you can say he's winning. Not only do you have a more robust trading market today in stocks and equities throughout the world, not just in the United States, but people understand what he's doing. He is standing up what a nation's leader should do for the first time in decades and decades and decades and decades. He's putting the American people first. He's putting America first. He's saying, hey, my responsibility is get the best deal possible for the American people. The problem to date is that presidents came in and thought they were presidents of the world. You're not president of the world. You're president of the United States of America and American citizens. And one of the best things about this process, you're unmasking, unmasking everybody that really stands with President Trump and stands with the MAGA movement, and stands with the core tenets of the MAGA movement and everybody that's just there to grab on and see how much they can get, to see how much they can grab while the grabbing is good. When President Trump says, hey, we're turning this deal around and we're going to turn this thing around and have stability, we're going to have economic stability and we're just not going to be based upon services. Services can come and go. People can put more capital on back of services and make them more competitive. This sustainable, competitive advantage on services, quite difficult, particularly to do it year after year after year, manufacturing and manufacturing processes with your intellectual property, with your copyright, your trademark, your patents, very sustainable. This is one of the reasons we had the massive war against the Chinese Communist Party, the stealing of the intellectual property, the gaming of the system. And they've thrown down hard. They said they're going to fight to the bitter end. I think I might be able to see that bitter end up near the sunlit uplands. Short break.
- [43:35]
Taj Gil
We rejoice when there's no more.
- [43:36]
Scott Bessen
Let's take down the ccp. What if he had the brightest mind in the war Room delivering critical financial research every month? Steve Bannon here. War Room listeners know Jim Rickards. I love this guy. He's our wise man. A former CIA, Pentagon and White House advisor with an unmatched grasp of geopolitics and capital markets, Jim predicted Trump's Electoral College victory exactly 312 to 226, down to the actual number itself. Now he's issuing a dire warning about April 11, a moment that could define Trump's presidency and your financial future. His latest book, 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. You should read it. Time is running out. Go to rickardswarroom.com that's all one word. Rickards War Room records with an S. Go now and claim your free book. That's rickardswarroom.com do it today. Here's your host, Stephen K. Ban. So at the highest level this, and for the highest stakes, this is being played out on the global stage right now. And President Trump is dug in at the same time. He's doing a absolute big deal with the Russian, on the Russian rapprochement. Right. Which is this overall kind of arrangement, understanding with the Russians, that includes Ukraine, this includes Persia, the Middle east, also economics. So he's juggling that, he's juggling the economy. They had this reconciliation. I still can't make height or hair of it. So I'm going to defer that to this afternoon. I have more meetings to make sure I go through this because right now the Senate, what's the Senate's proposing makes absolutely no sense, I don't think just mathematically. So we're going to get into all that. But that's another huge thing that's, that's going as President Trump didn't have enough on his plate, but he's dug in on this right now. One most important parts of this, that's why also it is I think now more than ever for you to understand the macroeconomics of it. We try to give you enough information on this, but I really recommend the end of the dollar empire. There we go back. We talk about debt, we talk about deficits, we talk about how the world's economy is structured. You'll get it's all totally free, totally free. And just even if you don't understand the first time, just read through it. I think you'll pick up most of it. The end of the dollar empire. It's now six installments including the last, which is modern monetary theory. Another crazy idea. This one is why I say the world is $300 trillion just waiting for a margin call. Almost had one the other day. Particularly these companies that invested in China and have backed the ccp. They're getting a little shaky right now. But if you go, you'll understand. You'll understand. I think all of this. So go today. Enter the dollar empire. Birchgold.com Bannon but most importantly, talk to Philip Patrick and the team. That's who you need to get with. Need to talk with those guys. Forrest Cho joins us. He's running the new federal state of China. We're going to have a big conference on the 4th of June that hay forest that we're going to have more details about starting next week. Forrest the Chinese part of this, the CC part of this CCP part of this is the one that just jumps out the Financial Times over the weekend. Trump defined as Beijing's fight back deepens turmoil. It's only gotten worse over the last 48 hours. They've retaliated. President Trump has said if you retaliate with 34% increase that we're going to go to over 100%. President Trump they're the ones that have not set up a meeting or discussions. I'm not so sure there's anything to discuss. Give us the outlook of yourself as a freedom fighter and also Lao Beijing that I kind of caught in the cross currents of this.
- [47:53]
Forrest Chou
Sir, thank you so much, Steve. I think definitely there is no talk, no negotiation. As Peter Navarro pointed out, this is not about negotiation. There is no negotiation. This is about the security of this country. And also I think CCP and the she is playing a game of chicken with the president, with American people, which he will lose and the CCP will lose. This tariff is not a war about a trade. This is not about the tariff itself. This is this is regarding the security of this country. I think the war on policy knows too well this is unrestricted warfare and this is an exciting Existing threat war for this country. This is between the evil and the good. So I think the Chinese Communist Party, they are always the paper tiger. They can talk whatever they want to talk. But the fact, the truth is their economy is weak. It's a paper tag economy which is enabled by the Wall street elite and Davos. So they will not survive any real war. So that's the fact. And also this tariff we are adding will take away, will decouple from the Chinese Communist Party which we talked about for a long time. This will take their ability to infiltrate any country to warfare in America and also take their funding for the military. This is a big thing. And also, you know, this will encourage the Chinese Lao bashing and the common people to rise up and taking down the Chinese Communist Party, this is the best time. This is the opportunity for Chinese people and also the people all over the world to take down the dictator dictatorship. And also make no mistake, I think this is their last stance. The Chinese Communist Party with their enablers, they will fight to the bitter end as you just mentioned. But the point is they don't have that capacity. Everything built for the Chinese Communist Party is built on the lies and the fake economy. So that's something we have to understand. I think the American people is not and should not panic. The real, the truly terrified is the Chinese Communist Party. That's why they have all this war. You know we talk about Wolf warrior, this is all their talk. They have no capacity and they cannot survive this fight. So this is just a game of chicken. And also the last thing I think we have to, the American people has to be prepared. Because you know what, the Chinese Communist Party controls the propaganda even in this country. So In China they 100% control the media. So whatever they do, they fight to the end. They sacrifice the well being of the Chinese people. They don't care. Think about, we talk about Korea recently, think about Korean War. They send hundred thousand people and their soldier with no weapon to die. They don't care. All they care is about their power. So for this they don't care about their economy. It's a fake anyway. So they will fight. They won't hesitate or delay their action. So for us, for the American people and especially the administration, we have to act swiftly and decisively and boldly because that's the way you can take down the Chinese Communist Communist Party. So force.
- [52:01]
Scott Bessen
Can you hang on for a second? I want to hold you, I want to hold you through the break, through the next, into the next segment force. Chu joins us from the new federal state of China. We're going to put on a big conference on the anniversary of Tiananmen Square on 4June have a number of very prominent speakers. I happen to think we'll still be in the middle of this because it's not going to get sorted quickly. Chinese Communist Party has dug in. They've said, quote from their finance minister and their trade minister, they will fight Trump in the United States to the bitter end.
- [52:34]
Senator Ron Wyden
End.
- [52:34]
Scott Bessen
We're going to find out from forest that that means going kinetic around Taiwan. We take a short commercial break. We'll return the war room. Just a moment. The April 15 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 the 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. 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 to fill this gap of quality supplements and of course, the beef liver being our flagship products. For those who don't know, beef liver.
- [54:46]
Senator Ron Wyden
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- [55:08]
Scott Bessen
But if you'd like to check us.
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Senator Ron Wyden
Out, you can go to sacredhumanhealth.com and cheers to your health.
- [55:13]
Scott Bessen
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