Episode 4514: Reports From South Korea; Shrinking The Fed Balance Sheet

Summary

Bannon's War Room: Episode 4514 Summary

Release Date: May 27, 2025

In Episode 4514 of Bannon's War Room, host Stephen K. Bannon delves into pressing global and domestic issues, focusing on escalating geopolitical tensions, election integrity in South Korea, and critical economic policies affecting the United States. This episode offers a comprehensive analysis of Russia’s ongoing military actions, China’s strategic maneuvers in East Asia, and the Federal Reserve's controversial financial strategies.

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1. Escalating Conflict in Ukraine

The episode opens with Mina Kim providing an update on the intensified military actions in Ukraine:

"Russia continued to launch missiles and drones throughout Ukraine yesterday, marking the third day in a row of intense bombardment targeting civilian areas" ([00:33]).

Key points discussed include:

• Russia's Aggressive Campaign: Over the past week, Russia has launched more than 350 drones and missiles, totaling over 1,300 drones and nearly 100 missiles. This has resulted in at least 30 civilian deaths and over 150 injuries.
• Political Tensions: The Kremlin responded to President Trump's criticism of Vladimir Putin by labeling Trump as experiencing "emotional overload" ([00:33]). Kremlin spokesman Dmitry Peskov acknowledged Trump’s efforts to negotiate an end to the war while justifying Russia’s retaliatory bombing campaign ([01:28]).

2. Germany Lifts Weapons Range Restrictions

Stephen K. Bannon highlights a significant development in European support for Ukraine:

"Chancellor Merz's announcement that the range limits will be removed is significant in terms of the damage that these missiles can do to Russian cities as far away as Moscow" ([03:57]).

Details include:

• Enhanced Missile Capabilities: Germany’s Taurus missiles now have a range of 300 miles, sufficient to target Moscow. The UK's Storm Shadow missiles and the US-supplied ATACMS missiles also see range restrictions lifted.
• Strategic Implications: Russia has adjusted by relocating key airfields and supply depots out of the previous range, making the removal of these restrictions a strategic advantage for Ukraine.

3. American Military Heritage and Current Focus

Bannon delivers a stirring monologue celebrating American military history and underscoring the nation's commitment to defending liberty:

"From Bunker Hill to Bastogne... Every child that lives in peace, every home that is filled with joy... Our debt to them is eternal" ([02:19] - [03:34]).

He emphasizes:

• Sacrifice and Duty: The enduring legacy of American soldiers and the nation's responsibility to uphold liberty.
• Current Military Objectives: A shift towards eliminating distractions and concentrating on core missions to "crush America's adversaries" ([05:48] - [06:25]).

4. Geopolitical Tensions in East Asia

The discussion transitions to the volatile situation in East Asia, particularly focusing on South Korea's upcoming elections and China's military posturing:

"With the German decision to basically give authorization to the Ukrainians to start hitting, using missiles that hit deeper into Russian territory, it is very close to metastasizing" ([10:00]).

Highlights include:

• South Korea Under Siege: Colonel Grant Newsham explains that South Korea is facing a "gray zone war" with attempts to manipulate elections and shift allegiance towards China without overt conflict ([11:10]).
• China’s Infiltration Tactics: The Chinese Communist Party (CCP) is alleged to be influencing South Korean elections through social media and cultural infiltration, aiming to weaken pro-American sentiments.

5. Election Integrity in South Korea

In an in-depth segment, Bannon interviews Ambassador Tan and Colonel Grant Newsham about election integrity issues in South Korea:

"They're trying to win without fighting... Capitalize on hardcore radicals to take over the country's levers of power" ([17:02] - [19:07]).

Key discussions include:

• Election Manipulation: Concerns about pre-printed ballots with non-personalized approval stamps facilitating vote fraud.
• Deterrence of Foreign Influence: The presence of American election observers aims to ensure fair elections and deter CCP interference.
• Potential Consequences: A shift in South Korea’s political landscape towards CCP alignment could precede further Chinese aggression, particularly concerning Taiwan.

6. BRICS Summit and the Threat to the US Dollar

Bannon addresses the upcoming BRICS Summit in July 2025, cautioning against the bloc's ambition to displace the US dollar:

"The Rio Reset in July marks a pivotal moment when BRICS objectives move decisively from a theoretical possibility towards inevitable reality" ([15:00]).

Points covered:

• Global Economic Shift: BRICS nations—including China, Russia, India, and Persia—are strategizing to reduce reliance on the US dollar, potentially leading to decreased global demand and a weakened dollar.
• Financial Advice: Listeners are encouraged to diversify their savings into gold to protect against the anticipated decline in the dollar's value.

7. Federal Reserve’s Expanding Balance Sheet

A significant portion of the episode is dedicated to analyzing the Federal Reserve's substantial increase in its balance sheet, featuring insights from Brian Westbury:

"They went from a 700 billion dollar balance sheet to an $8 trillion balance sheet" ([38:57]).

Key insights include:

• Quantitative Easing Critique: The Fed's aggressive money printing and bond purchases have expanded its balance sheet exponentially, raising concerns about long-term economic stability.
• Impact on Taxpayers: The Fed pays private banks exorbitant interest rates to hold the newly printed money, resulting in significant losses that ultimately burden taxpayers ([40:24]).

8. Chinese Influence on US Agriculture

Bannon flags the growing Chinese control over US farmland and critical supply chains:

"The Chinese have been buying up hundreds of thousands of acres of U.S. farmland... tightening their grip on global food production" ([43:35]).

Implications discussed:

• Strategic Vulnerabilities: Enhanced Chinese ownership in US agriculture poses risks to national food security.
• Emergency Preparedness: Emphasis on being prepared for potential disruptions in food supply chains.

9. Conclusion and Future Outlook

Bannon concludes by reiterating the urgency of addressing these multifaceted threats:

"We are on the cusp of the kinetic part of the Third World War... It's on President Trump's shoulders" ([37:06], [49:55]).

He underscores:

• Critical Period Ahead: With multiple geopolitical flashpoints and economic challenges, decisive leadership and strategic actions are imperative.
• Call to Action: Listeners are encouraged to stay informed, support election integrity efforts, and safeguard their financial futures against looming global shifts.

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Notable Quotes:

• Mina Kim ([00:33]): "Russia continued to launch missiles and drones throughout Ukraine yesterday... At least 30 civilians have been killed..."
• Stephen K. Bannon ([03:57]): "Chancellor Merz's announcement that the range limits will be removed is significant..."
• Colonel Grant Newsham ([11:10]): "You have a gray zone war going on against the Korean democracy..."
• Brian Westbury ([38:56]): "Another way to say it is that the Fed, you look at the bank size, it was 5% of GDP today."

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This episode of Bannon's War Room provides a deep dive into the intertwined nature of global conflicts, economic policies, and political integrity. Hosting experts and offering strategic insights, it serves as a call to vigilance and preparedness amidst evolving international challenges.

Transcript

[Stephen K. Bannon]

It right now.

[Mina Kim]

Russia continued to launch missiles and drones throughout Ukraine yesterday, marking the third day in a row of intense bombardment targeting civilian areas. Ukraine's military reported another round of more than 350 drones and missiles launched throughout the country in the past week. Ukraine says Russia has launched north of 1300 drones and almost 100 missiles. At least 30 civilians have been killed and more than 150 people have been injured. And amid Russia's intensifying attacks on Ukraine, the Kremlin is pushing back at President Trump's recent criticism of Vladimir Putin, suggesting Trump is suffering from, quote, emotional overload. That comes after Trump on Sunday said Putin had gone, quote, absolutely crazy.

[Stephen K. Bannon]

Speaking.

[Mina Kim]

Speaking to reporters, Kremlin spokesman Dmitry Peskov thanked President Trump for starting the negotiation process to end the war, while also suggesting the president was emotional over the issue. Peskov then went on to claim Russia's intense bombing campaign over the past three days was retaliatory in nature. Vladimir Putin met yesterday with Turkey's foreign minister at the Kremlin. It's the same Turkish official who mediated the talks in Istanbul earlier this month between Russian and Ukrainian officials. Meanwhile, Germany's new chancellor said his country and western allies, including the U.K. france and United States, are no longer imposing range restrictions on any weapons supplied to Ukraine.

[Stephen K. Bannon]

From Bunker Hill to Bastogne to Cantony to Coral Sea, from Gettysburg to Guadalcanal and Concord to Kabul, America's best and America's bravest have fought, bled and died so that we could pick up the torch of liberty, raise it high, high, high, and carry it onward to places they could never have dreamed of before. The sacrifice that they made was not merely for a single battle, a long ago victory or a fleeting triumph decades or centuries past. Their sacrifice was for today, tomorrow, and every morning thereafter. Every child that lives in peace, every.

[Colonel Grant Newsham]

Home that is filled with joy and.

[Stephen K. Bannon]

Love, every day the Republic stands is only possible because of those who did what had to be done when duty called. And the cost was everything to to them and to their families. Our debt to them is eternal and it does not diminish with time. It only grows and grows and grows with each passing year. The greatest monument to their courage is.

[Colonel Grant Newsham]

Not carved in marble or cast in bronze.

[Stephen K. Bannon]

It's all around us. An American nation, 325 million strong, which will soon be greater than it has ever been before.

[Colonel Grant Newsham]

It will be.

[Stephen K. Bannon]

So. Mika. Chancellor Merz's announcement that the range limits will be removed is significant in terms of the damage that these missiles can do to Russian cities as Far away as Moscow. The German Taurus missile is reportedly able to reach 300, which would allow it to hit Moscow. The British Storm Shadow has got a range of 155 miles. The ATACMS missiles that the US supplies can go 190 miles. But there have been limits on how much of that range can be used. And the Russians have simply moved their key airfields and supply depots back out of range. So this is a significant step to put targets that would be valuable to Russia within range of weapons that Ukraine either has or is getting in large quantities, like. Like the German Taurus, more generally. Nika, this moment right now is crunch time for Donald Trump on. On Ukraine and on Russia. Vladimir Putin, in effect, has disrespected him directly. I made a survey of all the statements that Trump has made since January. Threatening sanctions, warning Putin, telling Putin if he didn't come table, there'd be trouble. And he is. Putin has ignored every one of them. He's refused the compromise proposals that Trump has suggested. He's refused to cease fire. So now Trump really is in the situation where he's going to have to exert some real pressure on Putin to get these negotiations back on track or visibly give up as the Russians fire their, Their, their ballistic missiles and drones on Kyiv, which would be, you know, unattractive, I want to say, humiliating situation for Trump. But under the Trump administration, those days are over. We're getting rid of the distractions, and we're focusing our military on its core mission. Crushing America's adversaries, killing America's enemies, and defending our great American flag like it.

[Colonel Grant Newsham]

Has never been defended before.

[Stephen K. Bannon]

The job of the US Armed forces is not to host drag shows, to transform foreign cultures, but to spread democracy to everybody around the world at the point of a gun. The military's job is to dominate any foe and annihilate any threat to America anywhere, anytime and any place.

[Colonel Grant Newsham]

A big part of that job is to be respected again.

[Stephen K. Bannon]

And you are, as of right now, respected more than any army anywhere in the world. And that's happening. And I can tell you, you are respected like nobody can. Us. This is the primal scream of a dying regime. Pray for our enemies, because we're going medieval on these people. I 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.

[Colonel Grant Newsham]

And where do people like that go.

[Stephen K. Bannon]

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.

[Colonel Grant Newsham]

War ROOM here's your host, Stephen k. Banner.

[Stephen K. Bannon]

Tuesday, 27th May, the year of our Lord 2025. It is memorial Day week. The House and the Senate are out back in their districts getting feedback on the big beautiful bill. A lot of updates on that later in the show. Drudge, the MacDaddy over the last 24 hours has talked about the high likelihood that the kinetic part of the Third World War is actually going to metastasize. And with the German decision to basically give authorization to the Ukrainians to start hitting, using missiles that hit deeper into Russian territory, it is very close to metastasizing. As we've warned President Trump obviously all over this in the last 24, 48 hours and through today, I'm sure we'd be hearing some announcements also what's happening in the Middle East. Want to go first because at the same time we talk about the the third World War, the kinetic part around the rim of the Eurasian landmass, the continued exercises of the Chinese Communist Party, the People's Liberation army and the People's Liberation Navy around Taiwan can't be looked at as exercises anymore. It's obviously pre planning and pre exercises for an invasion. I mean, there's no other way you can look at it. And our great ally in South Korea that is right in the heart of all of it is under siege by the Chinese Communist Party. That last clip in the in the cold open was just out an incredible outpouring of of love for the United States because a delegation went over there to monitor the election. We have them here today. Ambassador Tan, the Colonel Grant Newsom, the great Marine Corps colonel wrote the incredible book about when China attacks. And of course, our own Colonel John Mills. Gentlemen, thank you so much for joining us as everything else in the world is on fire, from Gaza to the Red Sea to particularly Ukraine and now around Taiwan. Ambassador, let's start with you. What is the current situation in South Korea with this, this very important election that is that is upon us? Sir.

[Colonel Grant Newsham]

Yes, you have a gray zone war going on against the Korean democracy. You have all sorts of ways in which cheating is being set up to happen, whether it's multiplying the votes from abroad, whether it's starting tomorrow, we'll see what happens. But early voting starts tomorrow. And this is where they have cheated frequently in the past. And one aspect of that is they're saying that you don't have to have a specific signature through a personal stamp of election monitor on the ballot. All you need is a pre printed copy. Well, that of course makes it much easier to cheat. And so the steel is on and we are trying to be a deterrent, a voice and influence against that. And we just had a major press conference over at the National Press Club today, and we have a whole series of other meetings scheduled coming up as well. But this is a place where China would like to take over. The Chinese Communist Party would like to take over without firing a shot.

[Stephen K. Bannon]

Before I go to the other guys, I want to continue. Just talk to us about the Korean political establishment, particularly on the conservative side. It has appeared to outsiders to be a tad disorganized and really not taking the fight to this kind of group of radicals that forced out the previous president and seemed to somehow be aligned with the Chinese Communist Party. Is that a misinterpretation of ourselves and others in the United States are kind of confused how this could, how could this develop into this race where it looks like the opposition is leading right now?

[Colonel Grant Newsham]

No, I think you're right on. And even in the conservative people's power parity, they are not standing up for election integrity and for whatever reasons, they are not in the fight along these lines.

[Stephen K. Bannon]

Ambassador, can you hang on for a second? We got Colonel Newsham, our expert on the Chinese Communist Party, and it's the People's Liberation army and Navy and their plans, particularly around Taiwan. Also Colonel John Mills. They're there with Ambassador Tan leading a delegation to focus on election integrity. And given what we just saw in Romania, given what's happening in Germany with alternative for Deutschland, they're trying to suppress that party. Given what's happened in France with Marie Le Pen getting four years in prison, what's happening in Brazil with Bolsonaro? New report, they've opened an investigation in Brazil on Eduardo Bolsonaro as they for this very reason, talking about the stealing of the last election. His father's already on trial, as you know, they want to put him in prison. Eduardo Bolsonaro will be with us this evening on the afternoon in an evening show to discuss this, what President Trump and what this audience, what we went through from election day in 2020 all the way through the election, 2024, election integrity is top of the list in South Korea. Our most vital ally is now under the gun. Short commercial break we'll return to Seoul, South Korea in a moment.

[Colonel Grant Newsham]

I got American baby.

[Stephen K. Bannon]

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[Colonel Grant Newsham]

No, you're not. They're trying to win without fighting.

[Stephen K. Bannon]

The idea is to capitalize on hardcore.

[Colonel Grant Newsham]

Radicals in South Korea to have them.

[Stephen K. Bannon]

Take every lever of power in the.

[Colonel Grant Newsham]

Country and just move the country over to Korea, over to North Korea, over.

[Stephen K. Bannon]

To China and away from the United States.

[Colonel Grant Newsham]

Most people don't want that to happen. But a hardcore group of committed radicals.

[Stephen K. Bannon]

Is within reach of really taking the country and moving it away from the US to China.

[Colonel Grant Newsham]

So winning without fighting.

[Stephen K. Bannon]

This. Okay. If in because the election's upon us early voting starts tomorrow. We'll know the outcome in a couple of weeks. I understand you guys are there fight for election integrity which we need to do because they will try to steal it. But if you think about it, if we were to lose South Korea in this election and turn over to this group of radicals that are aligned with the Chinese Communist Party. And we know that at least a third of the people, I think 25% to a third in Taiwan are open to CCP being a province and not an independent nation. Maybe I'm a little high there, but I don't think I'm too high. You then have two fifth columns. This is, this is this not the preamble to the Chinese Communist Party's assault on Taiwan? I mean these exercises. I'd like to get your opinion. I've been following very closely. Captain Fennell and others have been great in getting me information. But in others, but these are not, you can't say these are exercises anymore. This is essentially, you know, this is not just pre planning. This is, they're going through the exercise of actually the air naval blockade and the air assault into, into Taiwan. And so isn't the South Korean election coupled with the fifth column, the large fifth column in Taiwan, the preamble for their invasion, sir? Yes, it is.

[Colonel Grant Newsham]

It gives the Chinese a lot of momentum.

[Stephen K. Bannon]

They could win this, have their proxies in South Korea win the election. So it gives them a momentum. And with Taiwan, they've used some of the similar tactics, particularly in South Korea.

[Colonel Grant Newsham]

The leftist control of the legislature really hamstrung the conservative president.

[Stephen K. Bannon]

The basically pro Chinese KMT in Taiwan has done the same thing to the really the pro freedom president of Taiwan. They made life miserable for him with their control of the legislature. So if you can get South Korea, you've got a huge distraction up there. You've got momentum. You may get the Taiwanese even to roll over. But as you said, Steve, what they're.

[Colonel Grant Newsham]

Doing militarily around Taiwan is not just posturing.

[Stephen K. Bannon]

If they want to pull the trigger, they can move anytime they want. The exercises now are rehearsal. As the war room engine room reminds me, it's a rehearsal for an invasion. People have to, you have to see what you see here. And I realize some of the folks, hey, we can't get involved. Well, you better be ready for your economy to drop 25% because all the advanced chip design and production is done. There's right with the. It will be a nuclear winter for the American economy if the Chinese Communist Party forget the moral and the ethical and the standing with an ally and all that. Put that aside. Just look at the real politic of what's happening. And I, you know, I hate to add more bad news, but the last 72 hours have been an absolute fiasco in Japan and talking about their finances I mean, the Japanese can't sell long term bonds. They announced today, I think for the first time in 35 years, they're not a creditor nation anymore. They're in these trade discussions with the United States. And I can tell you they're talking about the trillion dollars of government securities they own and how that has to be part of a package. So our great ally in Japan is in horrible financial shape and distracted. In South Korea you have Chinese Communist Party trying to steal an election. In Taiwan you have a fifth column. You already have, as you said, the election. The president and the executive branch is conservative, but the legislature is quite leftist. The Chinese Communist Party, whether it's Japan, South Korea or Taiwan, has done an excellent job of infiltrating these. So Colonel Mills, what do you guys intend to do? Is this just, is this is symbolic or you guys actually think you're going to have an impact here, particularly on election integrity? I mean, the reception you've gotten is extraordinary given the, given the size of the force that we're sending over there. It's been extraordinary. So the Korean people obviously want this, but what type of impact are you guys going to try to have and what do you think you actually will have? Well, Steve, this is political warfare. This is information warfare. First and foremost, we want to show the South Korean people America is paying attention. This is huge and shows an impact. We want to let them know we have a special relationship that's been forged in blood, fire and steel over the years and that we are paying attention and we care about what's going on. The second thing is paying attention. And here is election observers to give scrutiny and attention to the National Election Commission. This is part of this international racket of election stealing that's been going on essentially since the 90s and the original writing of software for election machines in Serbia and Venezuela. This is the fruit and the outcome of this international election racket. And they've, they've centralized the election. So as opposed to the United States where it's all about the county, here there's almost nothing they can do. Everything is centralized. They've already printed up the ballots with the pre approved stamp of the precinct election officer. And it's not in, it's that Asian stamp they like to put on items, but it's not even personalized to the name of that election officer. It's crazy. Pre printed the ballots with the approval stamp. The thumbprints don't even work. They don't match the thumbprint and they, they immediately purge the, the image of the thumbprints. Anyway, it's all a charade as far as election integrity. And they've already the early voting and the, the overseas ballots. Just like they're playing with military ballots with us. It's the overseas ballots that the numbers are extraordinary on precedent. So that's the third thing. Then we also want to be a deterrence to foreign influence operation, which is China. One of the big questions, how did this is like Hong Kong 2.0. And when we asked them today, how did this happen with the, the Moon Jae in signing the police agreement where you have Chinese, Chinese personnel over here acting as paramilitary police, just like in Hong Kong. This is crazy. The people are angry. They're scared. They want to fight. But we, we don't want to wake up June 4th and then have have a debate over who lost South Korea. We need to pay attention to this now. No. So, Ambassador Tan, here's what I don't get. I understand Ukraine is a shooting war and it's, it's actually, it looks like it's getting worse. I understand in Gaza, a disaster. The, the pushing of this thing of, of attacks into Persia, horrible, the Red Sea. And we do have a carrier battle group, carrier strike group that's going back to Norfolk right now. So we only have one there currently. However, on a scale from 1 to 10, one being Bannon's hairs just on fire on a new topic, 10 being DEFCON 1. How serious is the situation in all of East Asia, but particularly focused on our great ally in South Korea? Sir.

[Colonel Grant Newsham]

I would say it's a 7.5. What we're seeing, it's like an anaconda slowly curling around and crushing its prey because you have this rising tyranny of leftists that is going on because they have a super majority in the National Assembly. You have these North Korea study groups amongst the judiciary. And they've been making some awfully bad decisions in the Constitutional Court and in the Supreme Court, for example, in the removal of President Yoon. They're wrong on the facts, they're wrong on the law. And in fact, the martial law declaration itself was focused on awakening the Korean people to the election fraud that has been going on. And so if they gain the presidency as well, they also have a lot of the schools, they have a lot of the media, they have the unions. And so as they are marching through the institutions, they are strangling the country.

[Stephen K. Bannon]

You've seen this playbook before, folks. This is what you voted for. To have President Trump take it apart here. When we got Harvard Got so much more to get into today, Ambassador Tan. We're going to be following this daily. What is your social media? How do people follow you?

[Colonel Grant Newsham]

Sir, I'm on Facebook and that's the main social media that I post on.

[Stephen K. Bannon]

And what's your, what's your handle there? How, how do people get to you?

[Colonel Grant Newsham]

I think it's just my name, Morris Tan.

[Stephen K. Bannon]

Okay, fine. We will push that out. Colonel Newsham, where do people get to you first? Where they get to your book. Amazing book that'll make it tough to sleep at night after you read it. But where do they go? You can get the book on Amazon. That's usually the easiest way.

[Colonel Grant Newsham]

You can find me at Twitter, at.

[Stephen K. Bannon]

Newsham Grant and www.grantnewsham.com. you can find most of my work.

[Colonel Grant Newsham]

Or at the center for Security policy website.

[Stephen K. Bannon]

Perfect. Col. Mills at Col. Rhett John Col. Ret. John on substack Col. Rhett John 2 on X. Gentlemen, thank you so much. Look forward to coming back to you over the next couple of days. Godspeed. Thank you. Thank you. You see the playbook. You see the playbook? You see what they have come very close to the United States to do? It's the same playbook. It's the same playbook. This is why President Trump, why do you think he's bashing these institutions? Why do you think he's purging these institutions from law firms to the government to the administrative state to Harvard to these universities? We haven't, haven't made the assault on the deep state yet. I know this audience is quite upset about it and you should be. We'll get into all of that. I want to thank our sponsors, Birch Gold, particularly over the weekend. We were virtually commercial free at the United States Military Academy at West Point and then at Arlington National Cemetery. Cover, I don't know, seven, eight hours of President Trump live. Just incredible short commercial break. Take your phone out. Bannon at 989-898. The ultimate guide for Investing. You missed the IRS tax deadline. You think it's just going to go away? Well, think again. The IRS doesn't mess around and they're applying pressure like we haven't seen in years. So if you haven't filed in a while, even if you can't pay, don't wait and don't face the IRS alone. You need the trusted experts by your side. Tax Network usa. Tax Network USA isn't like other tax relief companies. They have an edge, a preferred direct line to the irs. They know which agents to talk to and which ones to avoid. They use smart, aggressive strategies to settle your tax problems quickly and in your favor. Whether you owe $10,000 or $10 million, Tax Network USA has helped resolve over $1 billion in tax debt. And they can help you, too. Don't wait on this. It's only going to get worse. Call Tax Network USA right now. It's free. Talk with one of their strategists and put your IRS troubles behind you. Put it behind you today. Call Tax Network USA at 1-800-958-1000, that's 800-958-1000 or visit taxnetwork USA tnusa.com Bannon do it today. Do not let this thing get ahead of you. Do IT today. Here's your host, Stephen K. Ban. Okay, Birch Gold The Rio reset July6 There's a lot happening between now and July 6. Couple massive elections, working through the big beautiful bill. President Trump wants that voted on by the Senate by July 4th. So we're going to cover it all. But make sure this is all free. Make sure you understand about the dollars, the prime reserve currency, debt, deficits, all of it. We make it all understandable. Birchgold.com promo code Bannon get it the seventh free installment, the Rio Reset. On the road to Rio with the brics. Nations are trying to get off the United States dollar and that would have that would be a tectonic plate shift, as we say. Mina Kim is one of the top influencers among the Korean people, particularly young people. So, Mina, here's what I don't get. When I I studied this pretty closely because I lived in and out of Korea, South Korea for years, loved the Korean people, had a lot of business partners over there, very entrepreneurial, very religious Christians, particularly the Baptist church, very big over there, big evangelical community in the Korean population. I don't get it. It seems to me a lot of this is driven by young people on the left. And these young people seem even more radical in many respects than the leftists. And in the Europe, on the continent of Europe and in the United States, it seems like a lot of these are quite attracted to the dictatorship, the Chinese Communist Party and even North Korea. Can you tell us what's going on?

[Mina Kim]

Sure. Young people in Korea are very heavily affected by the media and especially the social media. And as you know, a lot of social media we use as young people are affected, influenced by Chinese Communist Party like TikTok and other Instagram social media. You would see Chinese character pop up. Even though you don't watch, you refuse to Watch something Chinese. And that's what's happening in Korea. So I would say right now in Korea, there's a real mix of emotions, everything from deep concern to genuine hope. And with the June 3rd presidential election coming up, especially with the young people, we're at a major turning point. And then the young people realize that the outcome will likely decide whether we continue down the road of freedom with the United States or shift towards more socialist China, pro China direction. And like you said, a lot of young people respond to that. And that's because I think the Chinese culture has been flowing into Korea on the streets. We see so many Chinese speaking people these days and we see so many Chinese restaurants. And that's one of the tactics that Chinese people carry to subvert or infiltrate into one country. They bring their food, one of the famous food is the hot pot. And there's something called a fruit, sugar, sugar, fruit, which they bring to Korean streets. And they would pretty much influence young generation to be addicted to Chinese food. So I think that's one of the tactics that Chinese people use to subvert Korean young people, to like them and like their policies.

[Stephen K. Bannon]

Are you giving a warning, giving us a warning about TikTok? Are there any restrictions on TikTok in South Korea? Because we've talked about this whole thing. The deal's on hold here right now. In fact, the Chinese Communist Party has put it on hold. But the explain to our audience the power of TikTok in this situation, ma' am.

[Mina Kim]

So, okay, so we do not have anything against TikTok in Korea. Like in America, not a lot of politicians would raise awareness on this. But in Korea, it's mostly Instagram that people use as their main social media platform. And a lot of Instagram posts we have here has the Chinese character algorithm for some reason applied to it. And Koreans, when we scroll down our screen, like cell phone screens, we would only see Chinese character pop up and see the video of Chinese people doing some serious weird things that would, you know, affect the Korean young people's mind. And that's something that's a very concerning point. And that's why we need that politician that could focus on banning the Chinese culture flowing into Korea like that through social media.

[Stephen K. Bannon]

Has the conservative party over there just kind of given up? I mean, I'm kind of shocked about the lack of urgency in trying to get a candidate and get in the streets and make your case. I'm just, maybe I'm just missing it, but it seems quite different than the Korea, the South Korea I knew. And Love so much. I just don't see any energy. I don't see any. I don't see any urgency. I don't see an understanding of the stakes here. Am I off base in that? Do I misunderstand this or is that reality?

[Mina Kim]

No, you're getting it exactly right. I think it's culturally, because Korea has a Confucius culture where we like to obey older people or any kind of elites or politicians. What they would say, we would just obey, and that's just been our habit. And Korea has a really relatively short history of freedom. And our people, especially with the lack of the correct proper education because people would not tell the correct history in the schools, in the public schools. And our young people don't realize how precious the freedom is and how precious our friendship with America is that actually gave us this freedom. So I think that's where it came from. People are asleep right now. And we're so used to being supported by the left government and a lot of young people. Our housings were supported, our school tuition was supported. And people are not trying to work hard anymore because they know that the government will help them someday. And that's not true. And looking at America, with the President Trump getting elected in the recent American election, Korean people are slowly learning what happened in America for the past four or five years is actually happening in Korea as well. And especially in Korea, it's. It's a lot more serious because we're surrounded by so many hostile nations like China and North Korea.

[Stephen K. Bannon]

Unbelievable. Mina, what do people get you on social media? You are leaving in the next couple of days, so we will be able to get you in. We will be able to get you in, in. In Korea. When do you leave?

[Mina Kim]

It's going to be in two, three days. So before the election, I would arrive in Korea.

[Stephen K. Bannon]

Okay, thank you.

[Mina Kim]

And my social media.

[Stephen K. Bannon]

What's your social media? Where do people. Yeah. Yes.

[Mina Kim]

I'm more active on YouTube. It's called MKIMtv. It's a US political podcast in Korean and sometimes in English. I do run a organization called Build Up Korea, which is like Turning Point USA of America. And then also you can find me on realmenakim at Twitter.

[Stephen K. Bannon]

Mina, so great to have you on. We've got your back in this fight, so keep us, Keep us in the loop. Okay?

[Mina Kim]

That means a lot to us. Thank you so much, Steve.

[Stephen K. Bannon]

Thank you, ma' am. Folks, this is why we did all seven hours, eight hours at both West Point and at Arlington National Cemetery. We're on the cusp. We're already in the kinetic part of the Third World War. If President Trump can't pull this off, I'm telling you, folks, this is going to be so much worse than World War II. And we're right on the cusp of it. And it's on President Trump's shoulders as so much is to sort this mess out. I want to go. Dave Brat is Now, we had a little technical problem. Dave Bratt. In fact, we're having a slight technical problem here. They thought I was too well lit, so they decided another alternative. You can't let me light me too. Yeah, there we go. Not that I need it. Dave Brat, we got a very special guest. I want you to do the introductions and jump into this. I've been waiting for this one for a long time.

[Colonel Grant Newsham]

Yeah, yeah. Very important news piece brought to a friend. A grassroots story here. Doug de Groot out in LA is like a dog with a bone. He's like the war room posse. He is the war room posse. He's been fighting this one for years.

[Stephen K. Bannon]

Bring it to attention.

[Colonel Grant Newsham]

Socializing the issue, finding the experts. So he found our friend Brian Westbury at First Trust. They manage what, 250 billion. And he's got one of the leading, you know, financial papers in the country, so he knows his stuff. And you, Steve, you've been all over this issue. The Fed printing, you know, $8 trillion. Now it turns out the Federal Reserve.

[Stephen K. Bannon]

Is paying interest on these bank reserves.

[Colonel Grant Newsham]

And it gets even worse. Now the American people are funding those.

[Stephen K. Bannon]

Interest payments through the Treasury Department.

[Colonel Grant Newsham]

And so I'm not the expert. And so I brought on Brian Westbury, a friend and just a great monetary.

[Stephen K. Bannon]

Authority for our country.

[Colonel Grant Newsham]

And this will save us potentially a trillion dollars in the budget over 10 years. So, Senator Ron, John and House, guys. Here you go, Brian. Take it away. Brian Westbury. Hey, Dave, how are you? You know, you know about this for hours and still be a little bit confused. The Fed loves us confused. But the simple story is that back in 2008, the Fed used that subprime housing crisis to grow its balance sheet massively. I've tried to figure out ways to say this. They went from a 700 billion dollar balance sheet to an $8 trillion balance sheet. Another way to say it is that the Fed, you look at the bank size, it was 5% of GDP today.

[Stephen K. Bannon]

Hang on, hang on, hang on, hang on, hang on. Whoa, whoa, whoa, whoa, whoa, whoa. Slow down. The balance sheet of the Federal Reserve on the day they walked into the Oval Office with Bush was $880 billion. I thought the max. Because you're going to make my head blow up in a second. I thought the max they got to was 4.5 trillion. When we took over in January 20th of 2017, Inauguration Day, it was 4.5 trillion. Are you telling me they ran it up to 8 billion and they did quantitative tightening to take it down or they have other pockets? They're hiding. They're hiding. They're hiding the cash, sir.

[Colonel Grant Newsham]

Oh no. They did it again. So, so when, when Paulson and Bernanke walked in to W's office, oval office in 2008, they printed four and a half trillion dollars. That's what they did after that during the subprime crisis. Then they used that like, if you think of it, that strategy all over again during COVID and they did another four and a half trillion dollars. So, so, and I always compare it to 2007.

[Stephen K. Bannon]

So let's go after, by the way, after, after, after. President. Hang on. After President Trump took a trillion dollars off when Yellen was Fed chair in his in 2019, they, and this is why President Trump's growth in 19 over 3% was against the headwind of shrinking the balance sheet a trillion dollars. Then you're saying they added it back in. Okay, that gets, I got to keep on. I got it. I just want to make sure they.

[Colonel Grant Newsham]

Did it, they did it all over again. So, so if you think about it, what quantitative easing is, and so we just described the size, it's massive. They, they, they increase the size of the Fed's balance sheet at the peak by over tenfold, ten times bigger. In fact, if you take the Fed's balance sheet today, it's bigger than the top 10 sovereign wealth funds in the world combined. The Fed is by far the thousand pound gorilla in the room. And how, if you buy all these bonds and you print all of this money, how do you keep it from turning into inflation? Now we know it happened once, but it, but, but how did they stop it under Bernanke from turning into inflation? Well, what they did is they went in and they did three things. They put massive new liquidity rules on banks. They said, you have to hold this money we printed, don't lend it out, don't let it create inflation. Then they raised capital requirements on banks to do the same thing. And then the final thing, and this is what Dave was just talking about, they decided to pay banks to hold the money that they printed. And so right now we're paying banks four and a half percent on over $5 trillion. We're paying private banks $200 billion a year to hold all this cash that the Fed printed because if they didn't pay them, it would turn into hyperinflation. And so, so that they, we've now created an absolute mess because the Fed's paying banks 200 billion. They only earn about 100 billion on their bond portfolio, which means they're losing a hundred billion dollars a year. And who pays for that? The taxpayer. And, and this is why if we stop this whole process and roll back the clock to 2007, we could, we could say potentially $2 trillion over the next 10 years.

[Stephen K. Bannon]

Okay, hang on one second. We're gonna dive down deeper after a short commercial break. We rejoice when there's no more. Let's take down the ccp. There's something happening with our farmland here in the United States that isn't getting enough attention. The Chinese have been buying up hundreds of thousands of acres of U.S. farmland. They're also taking control over critical supply chains. Things like fertilizer, animal feed and farming equipment. Why? It's not clear. They're tightening their grip on global food production. That is clear. And if things go south and it could happen quickly, we need to be ready. That's why I trust my Patriot Supply. They're America's largest emergency preparedness company. And right now when you get their four week emergency food supply, you'll get a free four 247 food kits, an extra 12 days of food, absolutely free. Okay, Full stop. You're have to insert this, okay. And right now when you get there, four week emergency food supply, you'll get four free 72 hour food kits, an extra 12 days of food absolutely free. Let me repeat that. You're going to get four free 72 hour food kits. That's an extra 12 days of food and it's absolutely free. That's four weeks of delicious meals that last up to 25 years, delivering 2,000 plus calories per day. It's shipped fast and it's shipped free. We can't control what the Chinese Communist Party does. You can't control what China does. But we can control how prepared we are. Go to my patriotsupply.com today to claim your 12 days of free food. Shop my patriotsupply.com my patriotsupply.com do it today. Do not let this thing get ahead of you. You. Here's your host, Stephen K. Ban. If you like geopolitics and capital markets, Jim Rickards. And Jim, I think will be with us tomorrow. One of Our top contributors. Rickards war room.com that's the landing page. You get access to strategic intelligence. This is a C suite. Read as we say, you get access to it. Plus he does in a free book on artificial intelligence in money and currency. We're going to get to Joe Allen. Talk about AI being out of control officially. Now they even admit it. Make sure you go rickardswar.com check it out. Capital markets, national security, intelligence, political economy, economics, all of it. And geopolitics. Recordsworm.com strategic intelligence. Read what the C suites throughout the world read. That's why we put forward the Birch Gold. This is why we put forward the Financial Times. We want you to read what the decisions makers in the world read. We know you don't agree with it, you shouldn't agree with it. It's all a con from the globalist. Okay, so if Powell, who was not my choice for, for Federal Reserve Chair 1, I don't think we should have a Federal Reserve. We should start with an audit. Then we should start with an unwinding because it's always playing games. There's two concentrations of well concentrated wealth under Obama and then under Biden, the greatest ever in the history of this country. That's how what progressive Democrats do when they're really at work. So if Powell was here, Westbury, what would he say? He'd say hey Westbury, you missed the point. This is why we need to have this and we need to pay for it. What would his, what would his response be? And what's your answer to his response, sir?

[Colonel Grant Newsham]

Yeah, Steve, as far as I know, he's only been asked once. See, you know they control. There's only 25 or 30 journalists allowed in the room to ask Powell questions. But one time he left, he went to the Cato Institute and they asked him, why do you need this? Why don't you shrink the balance sheet back to where it was in 2007. He goes, oh no, the world is a really dangerous place. Place. And, and what I would say is that it's just like government all the time, right? We get a problem, government comes in to try and fix it and then they make the problem worse. And if you compare the amount of losses today. So the Fed held interest rates at zero, everybody bought bonds. Then when they raise rates, you lose money on your bond portfolio. So the Fed has a trillion dollars in losses. Private banks have $600 billion in losses. And the whole subprime crisis was only one point, was only 0.4 trillion 400 billion. So they've made the problem four times worse today than it was back in 2008. And I would argue that the reason they've done this, or it kind of goes to Washington. What does a bureaucrat want? They want more power, more money, bigger staff, more control. And that's exactly what the Fed's got. They, in other words, don't let a crisis go to waste. And so they've exploded the size of the Fed, they've created more losses in the banking system as a result of this. So I think his answer is actually terrible. He doesn't understand the problems that they've created. And then you have no journalists to cover it. And so, so what happens is they keep getting away with it. And let me just add one other quick point. If we keep going down this road, we, we're heading for a national bank, not just a Federal Reserve that controls the money supply, but, but a single national bank. And there are a lot of people, Elizabeth Warren is one of them, who have talked about a national bank now in the history of the US We've talked about it many, many times, but we've never done it or it's never succeeded. It would be a disaster. And that's where you get the, the central bank, digital currency, all of that kind of stuff. And so, so what I want to do is roll the fed back to 2007 at least, maybe even go back to a gold standard. That's the only way to stop them from doing this insane money printing.

[Stephen K. Bannon]

What, What, Why? You mentioned journalists, but you fail to mention the guys in House. In the Senate, they're looking at the big, beautiful bill. In the Senate, you can make recommendations. Why didn't the House take care of this? Why didn't the guys, Warren, Davidson and these guys. You've got some pretty good hawks over there that hate the Fed. I mean, he's grilling Powell all the time. I think he's done a pretty good job. Why, why did the House allow this to go on and didn't shut this down immediately?

[Colonel Grant Newsham]

Yeah, there's only, there's only a few members of the House or the Senate that understand monetary policy. And I kind of go back to Ron Paul. I mean, Ron Paul had this 15 years ago, 20 years ago, and he, but, but everybody in Congress thinks he's crazy and they don't want to go against Powell. But the, the Fed has a lot of, of political influence. I, I was always, I worked as the chief economist of the Joint Economic Committee of Congress. Greenspan was the chairman then. And there is no senator and no congressman that I knew that would really go up against him because they, he would, he would make them look foolish. And that's, I, I, I still don't get it. I don't understand why. But, but here they have hundreds and hundreds and hundreds, maybe trillions of dollars that they could save the taxpayer and use to pay for the tax cuts. Although these, they're just continuing the Trump tax rates. But they, and they just let it sit on the table. They don't do anything about it. Yep. Hey, real quick, we got about a minute left. In 30 seconds, number one, you, you alluded to the treasury roll. That's the piece where the American taxpayer gets on the hook.

[Stephen K. Bannon]

Can you give us 30 seconds on that and then 30 seconds on why.

[Colonel Grant Newsham]

This is not transparent like it is in other countries? Yeah, it should be transparent. In Britain, for example, the United Kingdom, they did the same thing, Quantitative easing, all central banks did and they counted as part of the deficit. Here in the United States, the Fed counts it as a get ready, a deferred asset.

[Stephen K. Bannon]

Yeah.

[Colonel Grant Newsham]

A negative treasury, they're, their losses are a deferred asset that they promise to pay back in the future. It's crazy. And why is treasury in the middle of this?

[Stephen K. Bannon]

Westbrook?

[Colonel Grant Newsham]

Yeah, yeah, Treasury's in the middle of it because now they're part of monetary policy. They have, they, the, the treasury used to hold 5 billion in a checking account at the Fed. They now hold 500 billion in the checking account account at the Fed. The treasury loves it. They, they, they get a slush fund, basically.

[Stephen K. Bannon]

Westbury, what's your social media? We're going to have you back, dude, my head's already blowing up. What, what, what's, what's your social media?

[Colonel Grant Newsham]

So my last name is Westbury with no T. I think they lost it at Ellis Island. So it'[e-mail]. that's Twitter.

[Stephen K. Bannon]

Thank you, brother. Look forward to having you back on.

[Colonel Grant Newsham]

Yep. Right.

[Stephen K. Bannon]

Brett, is Japan a lesson? Japan is in the process of crumbling as a financial superpower before our eyes. Bond investors throughout the world are telling whether it's Germany, the United States or Japan, we, we ain't financing the stuff long. We don't trust you. We don't trust you. Short break. Second hour better than the first. Only in the war room, there's a lot of talk about government debt. But after four years of inflation, the real crisis is personal debt. Seriously, you're working harder than ever and you're still drowning in credit card debt and overdue bills. You need Done With Debt and here's why you need it. The credit system is rigged to keep you trapped. Done With Debt has unique and frankly brilliant escape strategies to help end your debt fast so you keep more of your hard earned money. Done With Debt doesn't try to sell you a loan and they don't try to sell you a bankruptcy. They're tough negotiators that go one on one with your credit card and loan companies with one goal to drastically reduce your bills and eliminate interest and erase penalties. Most clients end up with more money in their pocket month one and they don't stop until they break you free from debt permanently. Look, take a couple of minutes and visit donewithdeckcom talk with one of their strategists. It's free, but listen up. Some of their solutions are time sensitive so you'll need to move quickly. Go to donewithdebt.com that's donewithdebt.com Stop the anxiety, stop the angst. Go to donewithdebT.com and do it today to provide American made natural supplements without all the artificial nonsense.

[Mina Kim]

So unfortunately, as many of you know.

[Stephen K. Bannon]

A lot of these big corporate supplements.

[Mina Kim]

Will include things like preservatives, artificial ingredients.

[Stephen K. Bannon]

And other additives that really aren't benefiting your health. So that's why we created Sacred Human.

[Colonel Grant Newsham]

Really trying out to figure fill this gap of quality supplements and of course.

[Stephen K. Bannon]

The beef liver being our flagship products. For those who don't know, beef liver is loaded with highly bioavailable ingredients such.

[Colonel Grant Newsham]

As vitamin A, B12, zinc, CoQ10, etc.

[Mina Kim]

And because it is 100% grass fed.

[Stephen K. Bannon]

And natural, your body is able to.

[Mina Kim]

Absorb these nutrients far better than taking.

[Stephen K. Bannon]

Any other synthetic multivitamin or any other.

[Mina Kim]

Synthetic vitamin in general.

[Stephen K. Bannon]

So we have some other amazing products, but if you'd like to check us.

[Colonel Grant Newsham]

Out, you can go to sacredhumanhealth.com and.

[Stephen K. Bannon]

Cheers to your health.