Episode 4634: Polling Shows Release The Files; Back From BRICS On The Rio Reset

Summary

Bannon’s War Room: Episode 4634 Summary

Title: Polling Shows Release The Files; Back From BRICS On The Rio Reset
Release Date: July 15, 2025
Host: WarRoom.org (Stephen K. Bannon)

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1. Introduction and Key Topics

In Episode 4634 of Bannon’s War Room, host Stephen K. Bannon delves into several pressing issues affecting American politics and global economics. The episode primarily focuses on:

• Alleged conversations between Donald Trump and Ukrainian President Volodymyr Zelensky regarding military strategies against Russia.
• The Department of Justice’s (DOJ) review of Jeffrey Epstein-related files and its implications.
• Recent polling data reflecting President Trump’s approval ratings amidst these controversies.
• The BRICS summit in Rio de Janeiro and its potential impact on the global financial system, particularly the de-dollarization movement.

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2. Alleged Trump-Zelensky Call on Targeting Russia

The episode opens with a contentious discussion about a reported phone call between former President Donald Trump and Ukrainian President Volodymyr Zelensky. According to reports from the Financial Times, Trump allegedly asked Zelensky about the feasibility of Ukrainian forces targeting Moscow and St. Petersburg (Mark Mitchell, [00:36]).

Notable Quote:

“...Trump asked Volodymyr Zelensky if he could hit Moscow from Ukraine. Can he attack Moscow from Ukraine? Can you hit St. Petersburg, too?” ([00:36])

Zelensky reportedly responded affirmatively, provided Ukraine received more weapons. Trump supposedly signaled his support for this aggressive strategy to pressure the Kremlin into negotiations. However, when confronted with these allegations, both Zelensky and Trump denied the claims. Mark Mitchell raises concerns about whether this development influences Vladimir Putin’s stance, to which Katie responds that whileTrump’s actions are significant, they may not significantly alter Putin’s strategies ([01:28]).

Notable Quote:

“If we don't have a deal, it's going to be too bad.” – Volodymyr Zelensky ([00:02])

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3. DOJ Review of Epstein Files and Institutional Trust

A significant portion of the episode addresses the DOJ’s review of files related to Jeffrey Epstein. Stephen K. Bannon questions Zelensky about the details, leading to discussions about the credibility and transparency of the investigation.

Notable Quote:

“Yeah, we're not looking to do that, Mr. President.” – Volodymyr Zelensky responding to targeting Moscow ([30:22])

Philip Patrick elaborates on the impact of the Epstein investigation on Trump’s approval ratings, highlighting a drastic plunge contrary to expectations. He underscores the public’s concern over a two-tiered justice system and the erosion of trust in federal institutions.

Notable Quote:

“This is about a representation of two tier justice and about unaccountable government.” – Philip Patrick ([08:05])

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4. Polling Insights: Decline in Trump’s Approval Ratings

Mark Mitchell and Philip Patrick discuss recent polling data indicating a sharp decline in President Trump’s approval ratings, driven primarily by the Epstein scandal. Despite initial high approval numbers due to economic successes and foreign investments, the controversy has caused a significant backlash.

Notable Quote:

“It's plunging. It's one point away from the lowest net approval rating that he's had this entire cycle.” – Philip Patrick ([08:05])

Poll numbers reveal that public trust in the DOJ and FBI has waned, with a majority doubting the integrity of the Epstein investigation. This erosion of trust poses a threat to Trump’s political capital and his administration’s stability.

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5. BRICS Summit and the Rio Reset: De-Dollarization Efforts

The episode transitions to geopolitical dynamics, focusing on the BRICS summit in Rio de Janeiro. The bloc, comprising China, Russia, India, and Persia, aims to challenge the dominance of the US dollar by promoting a new financial system.

Notable Quote:

“The Rio reset in July marks a pivotal moment when BRICS objectives move decisively from a theoretical possibility towards inevitable reality.” – Stephen K. Bannon ([15:00])

Philip Patrick discusses the motivations behind BRICS’ de-dollarization, emphasizing a fundamental trust issue rather than purely financial concerns. Bannon expresses optimism about finding solutions despite the challenges posed by BRICS’ strategic initiatives.

Notable Quote:

“These central banks continue to buy gold because they want to hedge.” – Stephen K. Bannon ([50:57])

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6. Institutional Trust and Potential Investigations

The conversation delves deeper into the declining trust in American institutions. Philip Patrick advocates for greater transparency and accountability to restore public confidence. He suggests that without substantial reforms, the trust deficit will continue to hinder political progress.

Notable Quote:

“94% think ensuring public officials are held to the same standard of justice as other citizens is important.” – Philip Patrick ([19:20])

The discussion also touches upon potential investigations into institutional misconduct, including the possibility of appointing a special counsel to address systemic issues within the FBI and CIA.

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7. Economic Policies: Tariffs, Inflation, and Federal Reserve Dynamics

Bannon and Patrick analyze the current economic climate, focusing on tariffs imposed in response to BRICS’ actions and their effects on inflation and the US dollar. They discuss the Federal Reserve’s stance on interest rates and the broader implications for economic stability.

Notable Quote:

“Look, the Fed are in a tough position. Powell says he's not political, but he's resisting lowering rates.” – Stephen K. Bannon ([42:56])

Philip Patrick highlights the importance of fiscal conservatism, advocating for significant spending cuts to manage the national debt and bolster economic growth.

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8. Returning from Rio: Insights on BRICS and Global Trust Issues

Upon returning from the BRICS summit, Stephen K. Bannon shares his observations, reiterating the bloc’s unwavering commitment to de-dollarization. He emphasizes that trust issues are at the core of BRICS’ strategy, extending beyond mere financial motivations.

Notable Quote:

“What is so interesting, though, is really understanding the motivations... it wasn't just financial, it's a trust issue.” – Stephen K. Bannon ([48:59])

Philip Patrick underscores the urgency of addressing these trust deficits to counteract BRICS’ initiatives effectively.

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9. Conclusion and Forward Look

As the episode wraps up, Bannon reflects on the multifaceted challenges facing the Trump administration, from internal political struggles to external economic threats. He stresses the necessity of rebuilding institutional trust and implementing strategic economic policies to navigate the complexities of the current global landscape.

Notable Quote:

“We need to start using carrots now, not sticks.” – Stephen K. Bannon ([38:53])

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Summary

Episode 4634 of Bannon’s War Room provides a critical analysis of significant political and economic developments affecting the United States and the global order. From contentious allegations involving former President Trump and Ukrainian leadership to the broader implications of BRICS’ de-dollarization efforts, the episode underscores the intricate interplay between domestic politics and international strategies. The discussions highlight the pressing need for institutional transparency and strategic economic policies to address the evolving challenges on the world stage.

Key Takeaways:

• Alleged discussions between Trump and Zelensky about targeting Russian cities have sparked controversy and raised questions about US involvement in Ukraine's military strategies.
• The DOJ’s review of Epstein files has severely impacted Trump’s approval ratings, revealing deep-seated public distrust in American institutions.
• The BRICS summit signifies a strategic move towards de-dollarization, driven by trust issues rather than solely financial motivations.
• Current economic policies, including tariffs and Federal Reserve decisions, play a crucial role in shaping the US’s response to global financial shifts.
• Rebuilding institutional trust and implementing transparent, accountable governance are imperative for maintaining political stability and economic resilience.

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Notable Quotes:

1. Volodymyr Zelensky:
   “If we don't have a deal, it's going to be too bad.” ([00:02])

2. Stephen K. Bannon:
   “This country will be saved.” ([05:03])

3. Philip Patrick:
   “This is horrifying. And if it isn't corrected, this threatens derailing Trump's agenda, getting rid of his political capital.” ([08:05])

4. Stephen K. Bannon:
   “We need to start using carrots now, not sticks.” ([38:53])

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This comprehensive summary encapsulates the key discussions and insights from Episode 4634, providing listeners with a clear understanding of the episode’s content and its broader implications.

Transcript

[Stephen K. Bannon]

50 days.

[Donald Trump]

What happens now?

[Vladimir Zelensky]

Do you talk to Vladimir Putin? Well, at the end of 50 days, if we don't have a deal, it's going to be too bad.

[Donald Trump]

Should Zelensky get more aggressive?

[Vladimir Zelensky]

Yeah, the tariffs are going to go on and other sanctions go on.

[Donald Trump]

Should Zelensky target Moscow? Should Zelensky target Moscow?

[Stephen K. Bannon]

Sir?

[Donald Trump]

Should Zelensky target Moscow or deeper into Russia?

[Vladimir Zelensky]

He shouldn't target Moscow.

[Mark Mitchell]

Is that why you gave him four weapons, though?

[Vladimir Zelensky]

No, we're not looking to do that.

[Mark Mitchell]

Financial Times, excuse me, is reporting, according to two people familiar, that there was a call between Vladimir Zelensky and Donald Trump where Trump asked Vladimir Zelensky if he could hit Moscow from Ukraine. Can he attack Moscow from Ukraine. Can you hit St. Petersburg, too? Trump asked on the call, according to these sources. Speaking to ft, they said Zelenskyy replied, absolutely, we can if you give us the weapons, and that Trump signaled his backing for the idea, describing the strategy as intended to make them, the Russians, feel the pain and force the Kremlin to the negotiating table. According to two people who were briefed on that call, Donald Trump was asked a version of this on the White House lawn. He denied it. But this reporting, does that change anything with Vladimir Putin?

[Katie]

I mean, you know, hell hath no fury like a Trump scorned. I think, again, the journey Trump has made here is significant. I don't think it changes too much for Putin because, you know, these discussions about attacking deep into Russian territory are not new. There were similar discussions that were had during the Biden administration, and ultimately where things ended up was that you don't want to go too far there. You don't want to acknowledge American involvement in that, because that's where the nuclear deterrent comes into play. And so my sense is that much as though Trump's pivot here is absolutely worth noting, as we are all doing, it kind of takes you back to where we were a year ago with the Biden administration, which is also to say, Katie, it's still a bit of a stalemate. It still doesn't mean we're any closer to an end to the war. It doesn't mean that we're any closer to resolving the problem we have with Putin. And Putin knows all of this, in a sense. He's always had time on his side, so he's going to keep playing that game.

[Mark Mitchell]

By the way, the White House in this reporting has said that it was taken out of context, that Donald Trump was just asking the questions.

[Stephen K. Bannon]

The Attorney General briefed you on the doj And FBI review the findings of that review. The attorney general briefed you on what? On the, on the DOJ and Epstein.

[Vladimir Zelensky]

On what. On what subject?

[Stephen K. Bannon]

Epstein on Epstein of the review of the files.

[Vladimir Zelensky]

A very, very quick briefing.

[Philip Patrick]

Did she tell you what did she.

[Stephen K. Bannon]

Tell you about the review and specifically did she tell you at all that.

[Steve Bannon]

Your name appeared in the.

[Vladimir Zelensky]

Oh, no, she's. She's given us just a very quick briefing. And in terms of the credibility of the different things that they've seen and I would say that, you know, these files were made up by Comey, they were made up by Obama, they were made up by the Biden, you know, and we went through years of that with the Russia, Russia, Russia hoax with all of the different things that we had to go through. We've gone through years of it. But she's handled it very well and it's going to be up to her. Whatever she thinks is credible, she should release. Yeah.

[Steve Bannon]

The president said today you would release.

[Stephen K. Bannon]

Credible files related to Mr. Epsky.

[Steve Bannon]

Are you prepared to do that and.

[Stephen K. Bannon]

When would you do that?

[Pam Bondi]

Miss our memo today. Our memo speaks for itself. And we'll get back to you on anything else. I haven't seen all of his statements today.

[Stephen K. Bannon]

Today.

[Pam Bondi]

Thank you.

[Steve Bannon]

Respond to the MAGA base that has.

[Philip Patrick]

Expressed a lot of frustration about this.

[Pam Bondi]

We're going to fight to keep America safe again. And we're fighting together as a team. That's what's so important right now. You know, we've got a war on drugs, we've got a war on human trafficking, we've got cartels in this country and we are going to do. We've got foreign adversaries around this world as well. And we're all going to work together as a team that. To fight to keep America safe again. And I can tell you that's what we're all committed to. Thank you. Thank you all for being here. And.

[Donald Trump]

This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people. Christians not got a free shot on all these networks lying about the people. The people have had a belly full of it. I know you don't like hearing that.

[Steve Bannon]

I know you try to do everything.

[Donald Trump]

In the world to stop that, but.

[Stephen K. Bannon]

You'Re not going to stop it.

[Donald Trump]

It's going to happen.

[Mark Mitchell]

And where do people like that go.

[Steve Bannon]

To share the big lie?

[Donald Trump]

MAGA media.

[Stephen K. Bannon]

I wish in my soul, I wish.

[Mark Mitchell]

That any of these people had a conscience.

[Donald Trump]

Ask yourself, what is my task and what is my purpose?

[Steve Bannon]

If that Answer is to save my country.

[Donald Trump]

This country will be saved. War room, here's your host, Stephen K. Band.

[Steve Bannon]

Okay, Tuesday the 15th of July, year of our Lord 2025, a quite wild day in the nation's capital. So the genius act, they took down the rule the Republicans did. That's not going forward, at least right now. They're going to have another vote at 5 o'. Clock. We're going to cover it live. Guess what? They've canceled all the votes, any remaining votes. And maybe tomorrow the big hang up there, among a number of things may be the there's a backdoor to a central bank digital currency which some of the people on the right have brought up. We'll try to get to the bottom of that. President Trump went to Pittsburgh, I think $90 billion of investment going on. He's made some statements about artificial intelligence. We're in an arms race on artificial intelligence. We have to be the superpower in artificial intelligence. We'll get to all that. A walk back. Remember this morning we talked about the Financial Times story and particularly about giving the or selling to NATO, who will then give to the Ukrainians not just offensive weapons and patriots, but also offensive weapons, including maybe weapons that could, that could reach Moscow and St. Petersburg. The Financial Times had a, had a quite detailed report about it. President came out right there and kind of walked it back. He's not talking about that. Later, somebody told the press that it was just President Trump asking an information question. So we'll get more to that in a moment. I want to get Mark Mitchell up. The Rasmussen team traditionally has about the best polling of MAGA and the best polling of President Trump's movement and the best polling around President Trump. He did say, hey, Pam, I've told the attorney general if there are any, you know, files that she deems should be released, she can go ahead and do it. She was asked later at a conference over the Justice Department about it, said she hadn't heard that. So there's a little bit of, you know, I would say not as hard as it was the other day. Also believe that Bongino is back at work over at the FBI. So, Mark, we've known you for a long time. You've been on the show almost like a, not more more than a contributor, almost like a co host. The reason is you guys do such a great job and you have such a tremendous ability to articulate like very few in polling can, what really the MAGA movement is, is thinking about the time and where it's headed. You've done some polling on this specific topic and in fact I just saw some, Some, I guess YouGov economist polling that looks like it lays right on top of yours is quite close to it. Can you walk us through what you're finding out about this Epstein situation and the MAGA base?

[Philip Patrick]

Yeah, but before I get into that polling, I just want to start at a high level and say Donald Trump came in with really great approval numbers. He's brought a lot of foreign investment back to the United States. He just signed his signature legislation less than two weeks ago. And it's the summer the Democrats are imploding. He took out the Iranian nuclear weapons program, which was insanely popular. And so where his approval rating should be right now is soaring. And it's not, it's plunging. It's one point away from the lowest net approval rating that he's had this entire cycle. And the last time he had a rating it was negative five was back in April. That was when the market imploded 15%. So people are trying to say this isn't a big deal. People are trying to say nobody wants this Epstein information out. It's an absolute misdirection. This is horrifying. And if it isn't corrected, it threatens derailing Trump's agenda, getting rid of his political capital. If this isn't fixed, this might hang over Trump administration. It could be his Afghanistan going into the fall with Democrats still pounding away. How come you flip flopped on Epstein? And they are, in my opinion there are some very easy fixes. But I just want to get to the polling now. And this is brutal when I got these cross tabs back.

[Steve Bannon]

But, but hang on, but, but hang on, but hang on, hang on, hang on, hang on one second. I just want to go back to your opening. Given the role he's been on and the run he's been on, and particularly the other day, even the media was saying they've never seen a president on this kind of run. And it kind of kicks off the summer where there's less interest in politics. But it just, his momentum's building. You would have anticipated with landmark legislation with, although we didn't like the involvement in Iran, he did dramatically end the 12 Day War and didn't have regime change. I mean, everything he's doing is kind of clicking. Just that being if this hadn't come up a Sunday a week ago, what.

[Donald Trump]

Would you have anticipated?

[Steve Bannon]

His polling. Where would you see the trend line going? Where would you see his polling going on a national basis? And with the mega movement.

[Philip Patrick]

Well, just talking about his job approval rating, he hit net plus 8 June 15, which was also, I will admit, the first day that Israel attacked Iran. I think it was June 13th. And it's been downhill since then. So he's lost 12 points. Now he's underwater four points. People who've been following us know that we've been putting out a chart pretty much daily that overlays all the presidential net approvals going back to Obama. 1. And where I was going into July 4th was I said, well, Trump's probably a day or two away from crossing over Obama's numbers and where are we now? Donald Trump is crossing under Joe Biden's numbers. And so that's a pretty big reversal in less than a week. And the biggest news, I mean, that I can attribute to this, it's like maybe people have heartburn that the one big beautiful bill was the messaging was a bit of a mess. It doesn't cut enough. Maybe it's the news that Republican establishment is playing footsie with amnesty because of all the people who love slave labor. But the big one is Epstein and people keep downplaying it, but this is not about a guy who died in 2019. This is about a representation of two tier justice and about unaccountable government. And I don't think, I mean, listen, back in March or it was the end of February, voters were let down on the Epstein thing too. But that's because they, they thought Trump was okay, he'll just bring it later. It's been a campaign promise and I know that he didn't specifically quote it very many times, but this has been basically a proxy for government accountability and redress for the deep state. And so what happened, in my opinion in the last few days is there was a major rug pull and it's affecting his polling. Now what do I think might happen? I think his approval will probably recover somewhat. I don't think he's going to be as poorly reviewed as Joe Biden. And I don't think this as big as Afghanistan. But the problem is, is that this is not going to go away. It's not going to go away. The Democrats are going to keep talking about it because they need something to talk about. And Democrats are plus two on the generic ballot right now. And so if Donald Trump is going to reverse the historical tendency of the out of power party regaining the Senate and the House, he can't just be kicking around at 48% and go into 2026 with a whole lot of open questions about straight Strong campaign promises. And again, I think there's an easy way to reverse this and I hear some people talking about it. But the Epstein polling is horrifying. Like I haven't seen numbers these brutal. If you want me to get to the cross tabs, let's look this.

[Steve Bannon]

I want, I want you to go to the cross tabs. No, go, go the cross tabs. We want to see the receipts here.

[Philip Patrick]

Okay. This is all taken after the announcement that there was nothing to see here. Case closed. We saw the video. He did not get murdered. Voters aren't buying it. They think Jeffrey Epstein was murdered. 47% to 31% suicide. Only 33% of Republicans, even though the Trump administration said so. Only 1/3 of Republicans said that he committed suicide. 27% of independents. This one's even worse. The FBI and the federal Department of Justice have been recently concluding an investigation which found that Jeffrey Epstein committed suicide and that the Epstein client list, that Epstein did not keep a client list of men involved in sex trafficking operation. Do you believe the FBI and the Department of Justice are telling the truth about Epstein? 21% yes. This is a country that 50% voted for Donald Trump. 21% yes. 56% no. Only 27% of Republicans. They're not buying the administration line. 15% of independents. Donald Trump started this administration with plus six among independents. He's negative 19 net approval with independents right now, by the way, which is closer to your opinion. The Epstein case is now closed. Echoing Pam Bondi's assessment. 16% or there are dozens of powerful and wealthy offenders who need to face justice. 68%. 68% of Democrats, 66% of Republicans, 69% of independents. Only 14% of independents say this case is closed. And so maybe these numbers will moderate. Maybe other major issues will take. He's been in the news for years now and this is in my opinion, like I said, a representation of the two tier system of justice. A canary in the coal mine. That maybe we're not going to face accountability. On things like the vaccine, on things like the weaponized Department of Justice, on things like the FBI.

[Steve Bannon]

Hang on one second. Just, just hang on one second. We're holding through the break. Mark Mitchell, Rasmussen on polling next.

[Donald Trump]

This July, there is a global summit of BRICS nations in Rio de Janeiro. The bloc of emerging superpowers including China, Russia, India and Persia are meeting with the goal of displacing the United States dollar as the global currency. They're calling this the Rio reset as Brics nations push forward with their plans, global demand for US dollars will decrease bringing down the value of the dollar in your savings. While this transition won't not happen overnight, but trust me, it's going to start in Rio. The Rio reset in July marks a pivotal moment when BRICS objectives move decisively from a theoretical possibility towards inevitable reality. Learn if diversifying your savings into gold is right for you. Birch Gold Group can help you move your hard earned savings into a tax sheltered IRA and precious metals claim your free info kit on gold by texting my name Bannon that's B A N N O N to 989-898 with an A plus rating with the Better Business Bureau and tens of thousands of happy customers led Birchgold army with a free no obligation info kit on owning gold before July and the Rio reset. Text Bannon B A N N O N to 989-898 do it today. That's the Rio reset. Text Bannon at 989-898 and do it today. War room here's your host, Stephen K. Bannon.

[Steve Bannon]

Okay fellow pastors going to join us the two team over at Birch Gold now. I think you're going to see some turbulence. President once again reiterated hey if the Russians have not complied and they're not sitting down at a table and trying to work on a ceasefire and a peace deal, not just sanctions, additional sanctions but secondary sanctions. He actually hinted to even more economic warfare on when today he said hey, it was misinterpreted what I said the Financial Times misinterpreted or people in the room misinterpreted what I was saying about the use of offensive weapons. But they got 50 days to comply and then there's going to be some they're going to have another wave of kind of economic warfare. He was pretty specific about that. In times of turbulence more than ever gold has been a hedge, been a hedge for 5,000 years. You ought to find out why. Birchgold.com Bannon end of the Dollar Empire seven free. Seven free episodes or installments. Philip Patrick's on here. We're working on number eight right now. Coming back from the Rio reset. The BRICS nations pretty savvy about how they were going to go about this and bilateral trade deals and try to hide it. The de dollarization, the de dollarization of the world's economy. They want to get away from the United States as having the control factors. People said on the one of the questions they asked President Trump was could he use the SWIFT system to shut down all Russian transactions. The reality is we can use the Swift system to cut them out internationally. That's why it's very important to understand the dollar as the prime reserve currency, the impact it has on your life and the impact it has on the world. Birchgold.com Bannon ended the dollar empire. Check it out today. And we're going to get, we're going to get Philip Patrick on here at the bottom. Rasmussen, do me a favor. I mean, Mark Mitchell, do me a favor. Let's go back, I want to go back to something you said and I want you to explain to people because this, you guys have been doing this daily tracking poll for all the way back to Obama's term, correct?

[Philip Patrick]

Absolutely. Yep.

[Steve Bannon]

And people have used that as a gauge. You guys been extraordinarily accurate. And you can see inflection points, particularly say, like Afghanistan, there's inflection points in a presidency that you can go back later and see in your tracking pole where it hits. You made a comment that on July 4, around July 4, that President Trump was close to passing Obama on the, on the tracking pole. Was Obama at was, I guess, was he at the highest, is he, is he like a standard for you guys to look at? And was why was that important that President Trump was close to you thought within two days would pass that?

[Philip Patrick]

Well, it bucks the historical trend of this idea of a summer of disillusionment where people were promised a whole lot of things on the stump and then realized that the establishment candidates can't actually come in and change anything. And what's changed over time is that Obama came in with a really, really, really high honeymoon. It was in the 60s, almost 70%. But of course, by the summer, he was kicking around in the high 40s. That's happened to every president. But they've come in with lower and lower honeymoons. That happened to Trump. He came in with a 53. It got up to a 55. He's been doing all right, net plus two, net plus three on average, you know, keeping the supporters picking up a little bit support from the fall. And you look at it and say, well, there's really nothing major that can happen here. They already threw every hoax in the world against this guy. And the Democrats are in complete disarray. So short of some kind of black swan, some kind of economic implosion, some kind of, you know, World War three kicking off in a way that he was unable to control. He's been on the world stage for 10 years. He's teflon Don. People basically know who he is. And so for all of the sudden, an unforced heir, and I really think it is an unforced heir, comes like this and just steals his thunder. Thunder we had. Our June economic confidence index was the highest print that we've had since the summer of 2021. Our unemployment rate that we measure every month is going down. There's all of these reasons that people should be positive and what is everybody going to talk about probably for months is this Epstein thing. And it's also because there's just so many obvious gaslighting and fake logic. And listen, this is not about the list. People don't want to see the list. The reason they're asking the list is because they don't trust the FBI anymore to do investigations. They this is the FBI that under Biden, a majority of people said was Joe Biden's personal gestapo. And so this is the part that I don't think the Trump administration appreciates. This was an election. People say, oh, it's the economy. No, it was an election about institutional trust and the death of the American dream. But 30% trust the federal government. Strong majority think the DOJ was weaponized. 72% are concerned. We're living in a police state. We have these numbers over and over again. And a really big one. How important is the rule of law, ensuring public officials are held to the same standard of justice as other citizens? 94% important, 82% very important. That's as close as it gets to 100. You wouldn't see somebody like oxygen wouldn't even get 82% very important. So this idea of two tiered justice is just absolutely an anathema to people. And we're going to be talking about it. That's the problem. And how do they get rid of this? They have an $11 billion a year federal Bureau of Investigation. Where are the investigations? Just because we have new people at the head of these administrations is not enough to restore public trust. The trust in these institutions was destroyed under Biden. It takes extraordinary transparency, in my opinion, to give that back, that trust back to voters. You can't just say nothing to see here is trust me, bro, is not going to work to restore trust. It should be, hey, this week we're launching this investigation. Here's how many agents are on. Here's the general plan of attack. Here's where you're going to hear something about it like, it's not about going on Fox News. It's about having this substance.

[Steve Bannon]

So here's the thing.

[Philip Patrick]

I mean, if people hang on one.

[Steve Bannon]

Second, hang on, one. Second, hang on. John Stalin was on here on Friday. He talked about this institutional trust in President Trump, and he kind of announced a leak that was coming out of the FBI and the Justice Department that there is now. And you saw a little bit of it in the New York Post that, you know, Brennan and Cuomo, there's a criminal investigation now. It turns out it's much broader.

[Donald Trump]

They're very close.

[Steve Bannon]

And what I understand is within a couple of days or potentially early next week of announcing a special counselor, special prosecutor that's going to take in your issue of institutional trust. It's going to go back and look at Crossfire. Hurricane is going to look at the FBI in the CIA in the nullification project, in the Russia hoax. It may look at. It's going to supposedly look at the 2020 election. It's going to look at January 6th. Other things of going after President Trump and weaponizing. Is that if that was announced and that a systematic program of that. Is that something you think would start to change people's opinions, that people are serious and going to get on top of this, Sir, I hope.

[Philip Patrick]

I think it would be a good first start. Although people have seen these kind of investigations before. Let's not talk about Bill Barr and Durham and all this other stuff. I would love to see one about election integrity. I would love to see more information about Butler. Butler. These are things, listen, forget about the JFK files like we had, okay? A federal agency ostensibly involved in killing a sitting president. Where was the root cause and corrective action? Just the fact that they're all dead isn't good enough. Like, how did that happen in an agency? And then not only that, in the last 12 months, you have the leading candidate of a presidential election was literally shot, and we've heard basically nothing. Who's leading that investigation? What have they found? How much money are they spending? The public have an interest in knowing this kind of information. And the existence of the investigation, in my opinion, is probably not enough, given the last 10 years of experience about how these things go. So I'd love to see more of this roll out. And maybe this is stuff that's not possible, but I'm sorry, this is the situation. People do not trust the government absolutely at all. And again, there needs to be. People keep saying, like, here's the political reality. Mike Johnson, I'm sorry, but these are the rules. Well, everybody knows the Democrats are gonna break the rules. And I'm not saying necessarily break the rules, but break a sweat, because the optics of the one big beautiful bill, in my opinion, just look like business as usual in Washington D.C. how are you going to win in 2026? You know, let's spitball. If the Democrats take control of the Senate, are we still gonna have the filibuster rule, 60 vote rule? I don't know. A lot of important people I talk to say no. So if that's the case, let's just get rid of it. And here's an idea. Instead of business as usual, 4,000 page bills, how about you put out a super popular bill every week all the way up to the 2026 election. I could list a lot off the top of my head, including things like auditing elections, paper ballots, voter ID, E verify, all of these things. We just got 28 Trump executive orders codified into law. Okay, we got another hundred that'll get us all the way to like December. Let's do it. And so I don't. Unless you see rapid things like this, how is Trump going to unravel this labyrinthine beast within whom very little, in my opinion has been done from a root cause and corrective action perspective to restore trust in people? Now they came in again, here's the paradox. Right direction polling is at 44% right now. It's still super high. I don't think this is lost for Trump, but this one, you can't just pretend that it's not going to be a problem hanging over this administration. The Democrats have nothing to run on. So what do you think they're going to run on? They're going to run on releasing the Epstein list. They're going to blame Trump for it and it's going to be ugly. If they get in control of the House, guess what their first commission is going to be? They're going to have a commission to look into the Epstein list and do what Republicans, you know, said they would and didn't. Will that affect Trump's numbers? Probably not, but the Republicans need every little bit of help they can get. Right now it's Democrat plus three or four on the real player politics aggregate. What, what do Republicans need going into the fall of 26 in order to maintain control of the government? It's probably something six, seven or eight points to the right of that, plus actloo getting dissolved, plus like whatever else, I don't know. But again, hard to predict and I'm pounding on the table. But this is not just me. Like I'm talking to other people who are having the same concerns. I don't know if you saw it but four of us honest pollsters that do a good job got together. We founded the national association of Independent Polling. I think people will be happy that an organization like that exists that can, you know, counteract the mainstream media. Continued gaslighting. That's only getting worse. It's only going to get worse. And the people I'm talking to there, you know, like you've had Rich Barris on. We've talked to Matt Towry. This is bad.

[Steve Bannon]

Yeah.

[Philip Patrick]

This is affecting everybody's number.

[Stephen K. Bannon]

Yeah.

[Donald Trump]

Can you.

[Steve Bannon]

What's your social media and YouTube. We got about 20 seconds. We'll have you back on tomorrow, the next day. Very important.

[Philip Patrick]

Raspson underscore poll. Honest pollster on Twitter, Rasmussen underscore poll on YouTube.

[Steve Bannon]

Mark Mitchell, you're the best. Incredible. Richard Barris. They're worried. The best guys we got are worried. Short break.

[Donald Trump]

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[Steve Bannon]

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[Donald Trump]

What happens now?

[Vladimir Zelensky]

Do you talk to Vladimir Putin? Well, at the end of 50 days, if we don't have a deal, it's going to be too bad.

[Donald Trump]

Should the lender get more aggressive.

[Vladimir Zelensky]

Yeah, the tariffs are going to go on and other sanctions go on.

[Donald Trump]

Should Zelensky target Moscow? Should Zelensky target Moscow?

[Stephen K. Bannon]

Sir? Should Zelensky target Moscow?

[Vladimir Zelensky]

Or deeper into Russia, he shouldn't target Moscow.

[Mark Mitchell]

Is that why you gave him more weapons, though?

[Vladimir Zelensky]

No, we're not looking to do that, Mr. President.

[Mark Mitchell]

Financial Times, excuse me, is reporting, according to two people familiar, that there was a call between Vladimir Zelensky and Donald Trump where Trump asked Volodymyr Zelensky if he could hit Moscow from Ukraine. Can he attack Moscow from Ukraine? Can you hit St. Petersburg, too? Trump asked on the call, according to these sources speaking to ftse, they said Zelensky replied, absolutely we can if you give us the weapons. And that Trump signaled his backing for the idea, describing the strategy as intended to make them, the Russians, feel the pain and force the Kremlin to the negotiating table. According to two people who were briefed on that call, Donald Trump was asked a version of this on the White House lawn. He denied it. But this reporting, does that change anything with Vladimir Putin?

[Katie]

I mean, you know, hell hath no fury like a Trump scorned. I think, again, the journey Trump has made here is significant. I don't think it changes too much for Putin because, you know, these discussions about attacking deep into Russian territory are not new. There were similar discussions that were had during the Biden administration and ultimately where things ended up was that you don't want to go too far there. You don't want to acknowledge American involvement in that, because that's where the nuclear deterrent comes into play. And so my sense is that much as though Trump's pivot here is absolutely worth noting, as we are all doing, it kind of takes you back to where we were a year ago with the Biden administration, which is also to say, Katie, it's still a bit of a stalemate. It still doesn't mean we're any closer to an end to the war. It doesn't mean that we're any closer to resolving the problem we have with Putin. And Putin knows all of this, in a sense. He's always had time on his side, so he's going to keep playing that game.

[Mark Mitchell]

By the way, the White House in this reporting has said that it was taken out of context, that Donald Trump was just asking the questions.

[Steve Bannon]

Okay, welcome back. Mark Mitchell there. The key is about the institutional trust. And, you know, people have lost trust in the FBI, they've lost trust in the CIA. We're going to have Jefferson Morley on tomorrow. Jefferson is the amazing writer and wrote the book Ghost about Angleton, one of the most fascinating characters in American history. It's about the front page story this morning, what Mark Mitchell just alluded to. The CIA with direct knowledge of Oswald and I mean very direct knowledge of Oswald, what he was doing in New Orleans and other places. Turns out he was been tracked by the CIA. A formal file was open on him in 1959. They knew every movement that Oswald made and the head of psychological warfare, the Miami office of the CIA and really the guy heading up all the anti Castro activities knew about him very closely, actually was monitoring him, might have been even more involvement than that and then lied to everybody. So the institutional trust, because it looks like there's some sort of involvement that now can be shown of the CIA in the assassination of President Kennedy. Also you have the judiciary and the CIA and the FBI and the coup against Richard Nixon and obviously all of this against President Trump. And I've had a ringside seat of this. You know, the deep states come after President Trump. And I think mark Mitchell is 100% correct. We're have Richard Barris on tomorrow. I will give you a heads up. Richard Barris, once again a guy that understands the Trump movement maga, his numbers are not that far off. I mean there's numbers layer on top of each other and the economist YouGov, who are not friends of the movement have a poll out that's almost as bad. So somehow this has to be addressed. I just don't think it's going, it's only going to go away with people becoming complacent and apathetic. And that's the last thing you need in these midterm elections. You need everybody up on the, you know, at the on watch. And right now you can already tell people are so frustrated with this in particular the way it's being handled that if they, they, you know, they just want to go away with it. When they go away, you're going to lose some of your best people. These are your best people. These are not sunshine soldiers and some are patriots. These are the hardest core of the hardcore. The people have been with President Trump forever. The people that had his back in those dark days of 21. I want to play those. Philip, I want you on here for the bricks, right. And the post of bricks. But there's something deeper that's already developing and that is President Trump has given this 50 day because you can tell he's very frustrated. He's tried to deal with Putin. It's not working. There looks like there's many geost political and geostrategic elements to this that he may have not calculated what Putin and these guys intend to do, the kgb. But when he talks about, you know, the giving weapons, shipping weapons. His real thing he keeps coming back to is sanctions, even deeper sanctions, and no one's really focused on this yet. Secondary sanctions would mean sanctions on India, but particularly sanctions on China. Given everything you saw in the. Down in Rio in. Coupled with. We had some. I think we had good news today on inflation. President Trump, it looks like the tariffs are kicking in like he felt, without inflation, price increases. Looks like inflation's in a good spot, not a great spot, but in a good spot. Obviously, capital markets are responding favorably. You got guys like Ken Langone, who's a Trump hater, saying how great he is, probably the greatest president I states, and that's a Wall street guy saying that, you know, how concerned are you for what's happened in the last 24, 48 hours about potential additional economic warfare around Ukraine? And how do you think that that will, that that will impact gold?

[Stephen K. Bannon]

Look, look, I think it's. It's tough in terms of its impact on gold. I think the more global instability we see, the more trade wars ignite, the more the sort of wars we see around the world. Ultimately, this instability creates a good climate for gold, and gold is moving gangbusters in this climate. So short term, I think it's good for gold. Longer term, we'll have to see how it plays out. Look, the one thing you talked about earlier, trust in our institutions being broken, and I think a big part of the de dollarization movement is we broke the trust, whether it was Biden back in 2022, back in 2014 or the 80s. But trust in the United States has been broken. And I think sanctions as a policy now, punitive sanctions, they can work shorter term to dissuade. Right. Maybe it'll be effective in sort of dissuading Putin. I'm not sure if they will in moving forward in Ukraine, but I think longer term, we need carrots. And I've said this many times, we need carrots more than steaks. I think sanctions dissuade people shorter term, but not longer term. And I think this BRICS dollarization movement is all about social slow and steady steps. So what I've said for a long time is we need to start using carrots now, not sticks. And I guess this is the one concern when it comes to de dollarization that I do have with President Trump is when you've got a hammer and he's got the biggest hammer around, every problem starts to look like a nail. Where I think we need to start getting a little bit smarter is when it comes to structuring trade deals, I think what we need to do is move away from sort of punitive sanctions and move more towards incentives, right? We can tie, you know, we have the largest consumer market in the world. Let's use it to entice people, right? We could tie market access to US dollar trade settlements and financial alignment. We could offer industrial infrastructure and near shoring deals to those that align with us. I think we have an opportunity now to make the world choose between our way and the other way. And I think if we sort of layer carrots and not sticks, it may be more effective longer term.

[Steve Bannon]

He's got, you know, we have over $110 billion coming in now in tariffs. No price increases at least today, or dramatic price increases. You saw, and I think this was your reporting folks at treasury, the White House saw that, the sophisticated move because a lot of people said, oh, the BRICS thing laid an egg. They actually did a very sophisticated move and these bilateral deals and to have their central banks buy more gold and eventually settle up that way to de dollarization move. It was part of, and I think the White House confirmed this when he dropped the 50% tariffs on Lula. And in Brazil, you know, 30% of that, the 30, 30% was tied to Bolsonaro in the trial. And it'll go away if Bolsonaro the trial. But 20% because he had threatened 10, I think he gave Lula another love tap of another 10 to get his attention that, you know, he's, he's focused on this de dollarization. He says it's not going to happen on his watch. I want to go back. If you had to have a forcing function to force the world to choose between the two systems.

[Donald Trump]

Because folks, you gotta understand this BRICS.

[Steve Bannon]

System is starting to become a reality, right? It's starting. It's a very rudimentary stage, very nascent, but it's starting. If you had to now force the world to choose, give that to me again, how would you do that?

[Stephen K. Bannon]

Look, I think it's a case of not forcing the world to choose, but incentivizing them to move towards us again. And I think there's a number of ways to do it, right? Number one is through trade policy, like I said, we can force nations to make a choice and incentivize them with our market to do what we want them to do, right? Secondly, I think ultimately trust has been broken, right? We talk about trust in our institutions being eroded. We need to increase that trust, right? We need to start with A clean slate. Whether that's auditing the Fed treasury balance sheets. Auditing Fort Knox potentially, although I don't want to let that sort of rabbit out the hat again. But I think overall increasing transparency of our financial governance, that's a straight up win, right? Secondly, like I said before, I think Secretary Besson has an opportunity in trade deals to set them up in a way that incentivizes people to work with us. Right. Offer infrastructure near shoring deals that other countries cannot match, like I said, and essentially build regional friend sharing blocks. Right? We've got an opportunity to push forward with soft power. Right? We killed US aid and rightly so by the way. It was full of waste, fraud and abuse and but China are filling that gap with their belt and road initiative. There's some smart things that we can do there. And I think thirdly, what's the BRICS competitive advantage? They've essentially modernized the financial system. They've built what could be a better system, they're offering rival financial stacks, bilateral CBDCs, the new development bank. We need to not complain. We need to start competing, right? We already have and own the global financial network. Let's modernize it, let's internationalize. Fed now create real time US dollar settlement for trusted partners. Look, ultimately what this is going to boil down to I think is a rebrand. The dollar doesn't need to be the only option, but it does need to be the best option. So I think we need to rebrand dollar leadership as transparent, growth orientated and built on mutual trust. Look at the BRICS in comparison, right? They push compliance through political alignment and a common adversary. How sustainable that is long term, that's up to us. But I think the US now needs to compete through trust performance and stability. The elephant in the room though, right, what all of this is dependent on is getting our fiscal house in order. Because if we cannot do that, all of this is mo.

[Donald Trump]

Fantastic.

[Steve Bannon]

Do you want to. Are you upset right now that we can't get past the rescission bill? It's $9.4 billion by the way. You should know to get the vote. I think to bring it to the floor they had to cut $400 million off it on some program, I think for Collins of Maine. Are you concerned? I tell you what, let's answer when you get back because we're talking about cutting spending and right now the rescissions package, which is supposed to be symbolic, that moving forward is now going from 9.4 billion to 9 billion because the Senate just doesn't have the stomach to cut spending. Philip Patrick Birchgold is with us. Short break. He'll be on the other side.

[Stephen K. Bannon]

Spread the word all through Hong Kong.

[Donald Trump]

We will fight till they're all gone. We rejoice when there's no more.

[Stephen K. Bannon]

Let's take down the ccp.

[Donald Trump]

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.

[Steve Bannon]

I love this guy.

[Donald Trump]

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.

[Steve Bannon]

You should read it.

[Donald Trump]

Time is running out. Go to rickardswarroom.com that's all one word. Rickards War Rooms. Rickards with an S. Go now and claim your free book. That's Rickards War room dot com. Do it today. War Room. Here's your host, Stephen K. Band.

[Steve Bannon]

You've seen what happened in the Hill country of Texas. You've seen what's happened in western North Carolina and eastern Tennessee. You never know when these emergencies are going to strike. My Patriot Supply is the leader in the space that kind of created the vertical, created the industry. They're now selling their basic kit, three months, one person, for 90 days. 866 servings of 22 different food varieties. 120 bucks off. Go to mypagesupply.com Ben and talk to one of their consultants and advisors. Particularly if you've never done it before, you'll find the extraordinary company, extraordinary products. And now more than ever, you need to be prepared. One of the best ways to do it is get their basic food supply. So start today, my patriot supply. My patriotsupply.com 120 bucks off this special when you use promo code Bannon. So go check it out today, Philip. Patrick, we can't, you know, and I keep, you know, arguing to the administration. Just come with the impoundments or come with the pocket rescissions. This taking so long on a rescission. That's $9.4 billion and you got to carve $400 million just to get the rule passed and get it to the Florida debate. It's just going to take too long with the spending cuts President Trump wants to do and he has the ability to do it. Just do the impoundments. Also, all this argument now they've started a formal process. Scott Bessant said it, I think today for looking for a new Fed chair, President Trump's Talking about a 300 basis point cut right now. We know the thinking of a 25 basis point cut, I guess in September, based upon these numbers today put this in perspective for us. Both the spending cuts that we still need to have and President Trump still has the ability to do, coupled with the search for a new Fed chair. And President Trump wants a 300 basis point cut sometime, you know, soon. Sir, your thoughts?

[Stephen K. Bannon]

Look, I understand exactly why, why President Trump wants, wants the cut, right? He's looking at 36 and a half trillion dollars of debt that already cost over $1 trillion a year to refinance. So we need the cuts if we want to grow the economy and get a handle on debt service. We need the interest rate cuts. The Fed are in a tough position. Powell says he's not political, but he's resisting lowering rates. It's as if he really doesn to do so. And this sort of spike in inflation, small spike, but spike, may be the catalyst for him to hold firm. It's interesting because, you know, he should have done that back at the end of 2024 when Biden was in power, but he made the decision essentially not to do that. So the Fed are looking more political now than they have done in a while. Look, in terms of curbing spending, that that has to be ultimately the priority, right? And this they're preparing now in the Senate for procedural vote on the 9.4 billion rescission package. It targets 8.3 billion, I think, in foreign aid and 1.1 billion for public broadcasting. Look, these cuts are important, right? It would be the first real rollback since Clinton. So it's a shift towards fiscal conservatism, but ultimately it's a drop in the bucket. We have a lot more to find in terms of cuts if we want to balance the budget and give these guys a chance to grow the economy. So there's a ton going on. I don't see a 300 basis point cut coming from the Fed. I think right now they're probably going to hold firm, wait and see what happens with inflation until the end of the year. So I'm not sure President Trump's going to get his way. But it's interesting and we'll have to see how it plays out.

[Steve Bannon]

Now we're going to go to work on the eighth installment. Can you give a just a couple of highlights of what you found in now that you're back, your Rio trip, sir.

[Stephen K. Bannon]

Look, what was so interesting? I mean, did we, did we learn anything we didn't know? No. The BRICs are certainly committed to de dollarization. We knew that when we came out and I think it was confirmed when we got there. What was interesting, though, is really understanding the motivations. Right. I always assumed that a lot of the motivation would be financial, right? Watching debt exploding, watching deficit spending in the United States, that was largely the catalyst. But it turns out it wasn't the case. This is a trust issue. This goes back to the 1980s. It goes back to 2022 that the trust has been broken, which ultimately has encouraged me when it comes to solutions. Right. I've been not so encouraged when it comes to how we're going to curb spending and get our fiscal house in order, but I am encouraged when it comes to building trust globally. So for me, I've come back motivated to try and find some solutions. But ultimately, I understand now how committed these guys are, at least at this point, to de$izing and how important it is that we stop it as soon as we can.

[Steve Bannon]

How do people, what I tell folks is I want them to build a relationship with you and your team. How can they get there? Because with this Ukraine situation heating up and folks, you might want to wish it away, it's not going to go away, right? It's not going to go away. And I think President Trump in this article in the FT and then what he said on the lawn heading to Pittsburgh today, you realize the seriousness of this is kind of combination of economic warfare and Connecticut war. You add on top of that what's happening in Persia, the South China Sea, and you double that down with the brics nations. These central banks continue to buy gold because they want to hedge. Where do people go to get a relationship with you? Because most important now they build a relationship with Philip Patrick and his team at Birchgold.

[Stephen K. Bannon]

Sir, it's birchgold.com Bannon. Birchgold.com Bannon But I want to say one thing quickly. Listen, these problems have been here for the last three years, right? But we didn't talk about them. Now we're talking about them. They didn't start today but at least the administration is addressing them. And this is why I voted for President Trump. This is why we need President Trump. Because ultimately they understand the issues and they're working towards solutions. It's going to be a bumpy road, but people have to understand the fact that it's out there in the mainstream. This is encouraging. The problems were there before. They just weren't getting dealt with. Sorry for that rant. It's birchgold.com forward/ Banner or text Bannon to 989-898.

[Steve Bannon]

Philip Patrick. That's not a rant. That's great. Love having you on here, brother. Welcome back from Rio.

[Stephen K. Bannon]

Thank you, Steve.

[Steve Bannon]

We're gonna take a short break. Let's get, let's see. Michael and Dell's gonna stick it with us for top second hour.

[Donald Trump]

Mike, let everybody know, where do they go right now to make a call for the.

[Steve Bannon]

For appellate? We're going to tell your story on the other side.

[Donald Trump]

Where do people go right now?

[Steve Bannon]

On my pillow.

[Donald Trump]

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[Vladimir Zelensky]

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[Donald Trump]

All the.

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[Steve Bannon]

Okay, stick around. We're gonna have you tell your story next in the world.

[Donald Trump]

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