
Episode 4675: Summoning The Demon Of AI; ICE Officers Under Threat From Extreme Leftists ...
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Commentator 1
I think tonight's a fairly historic night where I think you can go back and when you write the history, you'll say this is the night that the global free trade era begun by the United States in the post war era, led by the United States really came to an end. There is now, I think, a permanent tariff curtain around this country. Whether that's for good or for ill, well, we'll find out. But right now what it means is that one person, one man has put in place the tariffs without Congress. There's some question about the legality of what he's done. But you can also say, I guess it was done democratically. If you voted for Donald Trump and didn't know he was going to put these tariffs on, that were going to raise your prices and limit your choice, well, you were either willfully or were just misinformed. So this is a big night. This is it. We are now in a place where there are tariffs that have gone up from what were 3% and, and an effort that went on for decades to reduce tariff barriers and increase free trade. It's over. Now there's a tariff curtain around America.
Rick Santelli
Welcome back to Squawk Box. Rick Santella here with the big breaking news of the morning. The big July job job jobs report non farm payrolls up 73,000. Definitely a bit light, but maybe it's the Goldilocks left. See how the market moves 73,000. That that would be the lightest rate of the year. You have to go back to October of last year to find a lower non farm pace at 44,000. Now the revisions, here's a biggie. The two month revision minus 258,000. That is a biggie. A biggie. Average hourly earnings on month to month basis come in as expected, up 3, 10. And if we look at year over year perspective, up 3.9, that's important. That's a tenth higher than expected. 2, 10 higher than 3.7 in the rearview mirror. And that 3.7 was the lowest year over year earnings rate going back to mid 21. If we look at the hours worked, hours work at 34.3, that's up a 10. That's a good thing. The unemployment rate moves up a 10. It moves up a 10 from 4.1 to 4.2. And this makes it the 1, 2, 3, the fourth 4.2 read of the year. Two to find a higher reading, you're going way back. You're going all the way back to October of 21 when it was 4.5. Now if we look at labor force participation comes in a tenth light 62.2. That's a tenth light in the rearview mirror. And expectations 62.2. To find a lower number you're going back to the end of 22. And finally the underemployment rate which is called U6. The that 4.2 is called U3. 7.9 on the underemployment rate that would equal we were in March to find a higher one year going to February. What's the market doing? The market and interest rates is moving lower. Why is it moving lower? Because of the big revision would be my guess. And maybe partially due to the light non farm but it is the revision. We have moved down quite a bit. We're at 432 now pre number we were hovering around 4439 ish. And if you look at where we settle last week in a 10 it was at 439. So we're now down about 7 basis points on the week a two year last week closed at 393. It is now down 10 basis points. And that's after closing at the highest level yesterday. In the short end since mid June of course of this year pre opening equities they're moving a bit lower but they haven't made new lows in the Dow futures yet. So we want to monitor that.
Economic Analyst
You know there's a couple of things we've got to remember as we look at this data. One is the fact that these massive downward revisions are not new to this year. The idea that somehow this is because of staffing shortages doesn't explain why we had the massive downward revisions for the last four years. Basically this is a post Covid data collection problem when it comes to the jobs numbers. In fact, just earlier this week we we got the quarterly Business Employment Dynamics report from the Bureau of Labor Statistics and sure enough that showed that 2024 has another massive overestimation of the number of non farm payrolls. So next year when we get the annual benchmark report for that that 12 month period from March to March, we're going to see another huge annual downward revision. And that's on top of the existing month to month downward revisions that we've already had and that we clearly continue to have. So again the idea that somehow there's something wrong with the data and it just started this year, that's not really new. Again, this is a post Covid problem. The BLS probably needs to seriously rethink all of their models. Whether it's whether it's nonfarm payrolls, inflation, you name it. The other good thing that I saw in this report though is the fact that a lot of the decreases that we've seen are actually coming from the federal government. Since January, non farm payrolls at the federal level are down 84,000. So they're clearly making good progress in terms of cutting the bureaucracy.
Steve Bannon
This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people. Reasons I 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. I know you try to do everything in the world to stop that, but you're not going to stop it. It's going to happen. And where do people like that go to share the big lie? MAGA MEDIA I wish in my soul, I wish that any of these people had a conscience. Ask yourself, what is my task and what is my purpose? If that answer is to save my country, this country will be SA war.
Rick Santelli
Room here's your host, Stephen K. Ban.
Steve Bannon
It's Friday the 1st of August, year overlord 2025. Thank you. We got so much to get to this morning. So let's just cut through the jungle here with the machete. We're going to have a couple senators on here. I think about the recess and what we're going to do about these appointments. Going to get update in Texas, going to have a very special guest come on about the Brazil situation. President Trump hammering hard. Joe Allen, massive news on artificial intelligence. We got to start with the economy and these job numbers. Joe Lavornier joins us from Treasury. So Joe, walk us through it. I think what people are most concerned about are not the light number for the month of job pickups versus non farm, but it's the revisions. And particularly I think the concern is we haven't had a lot of time to go through it just got released. But the fact that it looks like the increases in jobs are coming in health care. Let's talk jobs first and then we'll talk tariffs because President Trump last night put out a whole new, not a whole new, but really I think threw down hard. We are reordering the world's trading relationships and this is the way it's going to be. And this is very significant because today's the 1st of August when he said everything was going to happen. Let's start with the jobs numbers, sir.
Joe Lavornier
Sure, Steve. So yes, the numbers were, were light relative to what they had been and they were down revisions. But I want to focus on a couple of the key, you know, the good news, number one is that layoffs are very low. We see that in jobless claims, initial claims are back down to their lowest reading in weeks. So there's very little layoffs. We have the one big beautiful bill passed. There's certainty on that. You just talked about trade. We've had numerous huge bilateral trade deals with our, some of our key trading partners still some more to come. That's a positive and we've got the CapEx comeback. And that matters, Steve, because when CapEx is growing at a decade plus high, that always presages faster employment. So the data were on the softer side, but the outlook is great in terms of income creation. We had strong wages. It's important because if we look at the details, all of the job gains year to date have been in native born employment. They're up about 2.5 million. Foreign born employment, which people use as a proxy for illegal immigration was actually down a million. So the wage trend will strengthen, as Secretary Besson has said. And President Trump's economic policies now, which are being codified, will lead us on a much faster growth trajectory. Steve. But we do need lower rates because lower rates will smooth this process to much faster growth. And again, President Trump has been proven correct. You need lower interest rates.
Steve Bannon
I agree with all that and particularly native born versus non native born real wage growth, all of it. The only caveat I would put, sir, and I realize this administration has taken a very different tact in Silicon Valley, is taking a very different tactic, but traditional. Your theory of the case on capital expenditures is based on a classical model where capital expenditures add to jobs. I would actually argue that most of this is coming in capital expense. A lot of it, not most of it, a lot of it's coming in capital expenditures related to artificial intelligence. And I get a sense that the lightness in some of these numbers you're starting to see not just, you know, not just economy coming out of this horrible Biden ditch. Right. But you're also seeing this, beginning to see the impact of artificial intelligence. And my concern is the big capital expenditure may not lead to the actual employment growth that we anticipate given traditional models of capex to employment. But since so much of this is going into either data centers, energy for data centers, or in infrastructure around artificial intelligence, we will start to, we will not, you will not get the, the labor pickup you think, particularly in entry level white collar jobs. Any thoughts about that?
Joe Lavornier
So Far Joe I understand that point Steve and this is where I think the one big beautiful bill is so innovative in that it actually gives 100% expensing to build those data centers, factories and plants. And what will mean especially on the skilled labor side where that pertains to a lot of blue collar work, you'll see much faster wage gains because there'll be real employment demand. There's on the capex side I hear what you're saying, those are fair points. However, when we look at the data we are seeing some good growth in non AI related spending and I do expect that to accelerate everything won't be just AI. We've got the codification of those lower marginal rates on capital and labor. So if we get the lower rates we have, money isn't tight Steve. We're going to be able to get housing costs down significantly improve first time affordability which is at an all time low and everything kind of will multiply in self feed because the president set an environment for the economy really to boom. But it needs that liquefaction to actually grow. Kind of like the garden. A garden needs water, may have good soil and seeds but it needs, it needs more than that.
Steve Bannon
The corporate earnings were very good to great but the employment numbers are not there. Are you concerned that we're going to have a lot of efficiencies coming to these corporations? They're going to get great top line growth and even earnings growth but that's going to come at the expense of high value added, high paying jobs.
Joe Lavornier
No Steve, I don't and I'll tell you why. Having worked a long time in Wall street, you know a lot of the trading now is electronic and I heard how we're not going to need salesmen and women. It doesn't matter. But in reality as if you're good and you add value, those are still very high paying jobs. Well, President Trump is going to create is a much more efficient system. We're seeing, you mentioned employment numbers. We're seeing government jobs go by the wayside. You're going to see faster productivity tied to wages. New industries come about like for example we talked about the genius act not so much on your show but how innovative and all these new financial products and things are come down the pike that will create demand for dollars, create new industries which are coming before our eyes. So I'm optimistic we're going to have high paying jobs certainly on the blue collar side but also Steve, on the, on the white collar side. It's just a lot of these industries are in their infancy and we don't know what they're going to spawn. But I'm an optimist.
Steve Bannon
Okay, Joe, where can people go to your social media? Because I'm sure there's going to be a lot of updates today and in different analysis and perspectives coming from Treasury. Where do people go to follow you guys today?
Joe Lavornier
Thank you as always, Steve, at Lavorne Economics and of course at Sec. Besson, Secretary Besson as well either. Well, Secretary Besson for sure. He's the main man. But you can, you can follow me for those that want it. Lavorianomics. And thank you again.
Steve Bannon
You're not a bad wingman though. Good job.
Joe Lavornier
Thank you, Steve.
Steve Bannon
Good team together over there. EJ and Tony's going to join us. 11 we're also going to talk the until the, until the labor number came out, it was really a historic day as President Trump has reordered the world's global trading system, put out a bunch of new tariff designations last night, et cetera. Some are kicking in today, some are kicking in a couple of weeks, some are kicking in October. But as Joe Liesman said right there last night, I think it was on Stephanie Rule, President Trump, we have President Trump has totally reordered the post war international commercial relationships. So we're going to get to all that later with E.J. antony. We're going to talk about artificial intelligence. James O' Keefe is going to join us. Really packed this morning. Birch gold now more than ever. You can tell on a day like today gold's gonna gonna pop. But it's not about the price of gold. It's about the process of how value is driven by gold as a hedge. That's what you want to learn and you can learn it at, at birchgold. Birchgold.com Bannon the End of the Dollar Empire. Seven free installments. Everything Birch Gold puts out with War room is all free and ubiquitous. So go check it out today and talk to Philip Patrick and the team over at Birchgold. Now more than ever, like I said, you're gonna hit a couple of speed bumps along the way in reordering the world's economy. It is the 83rd birthday of Jerry Garcia. So today we're gonna have in honor Jerry Garcia. We're playing Jerry Garcia's music coming in and going out. Also tonight, I think Dead and company kick off a three day visit. I think it's in San Franc. Go to the park there. The famous, the famous this July there is a global summit of BRICS nations in Rio de Janeiro the block 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 and 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 diversify 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 298-9898 do it today. That's the Rio reset. Text Bannon at 989-898 and do it today. Kill America's Voice Family Are you on Getter yet? No.
Joe Lavornier
What are you waiting for? It's free, it's uncensored, and it's where.
Steve Bannon
All the biggest voices in conservative media are speaking out. Download the Getter app right now. It's totally free. It's where I put up exclusively all of my content 24 hours a day. Want to know what Steve Bannon's thinking? Go to Getter.
Rick Santelli
That's right. You can follow all of your favorites.
Steve Bannon
Steve Bannon, Charlie Kirk, Jack pos and so many more. Download the Getter app now. Sign up for free and be part of the newfound okay, we're up on Get. I'm up on Getter exclusively. If you want to see everything I'm putting up all night long and where our thinking's going and and we put up counter arguments and a lot of articles from liberal and progressive publications just so people can understand narrative warfare. What's happening, go together. It's totally free. Download it. It's super easy to use it. That's why I use it because I'm an idiot in this regard and it's very, very easy. Joe Allen's join us here. Joe's supposed to be on the six o' clock show last night, but it got so crammed I did not want to just jam this thing in for Joe because it's too important. And since we've had the jobs report and we're doing some analysis right now to make sure that we got actually got facts. However, I have a feeling that some of this. Cause you're seeing earnings go up and we've had great earnings, great earnings season so far, by and large and. But it's light on the employment side and I think if you go back through these numbers, a lot of those numbers are tied to health care, which is not a great thing because healthcare has got so much government involvement in it. You want manufacturing increases, manufacturing jobs, all of it. My big concern about the rush to artificial intelligence, it's not a, as Brian Costello say, it's not a productivity model they're using in artificial intelligence. It's an efficiency model that means cutting out bodies, human beings to let artificial intelligence take over. This is why entry level administrative, managerial and technical jobs. Those three areas I think are going to have a great impact over I think two months ago when we kind of profiled it Axios, Jim Vanderhe particularly was talking about the white collar apocalypse coming from AI. I'm not saying today shows it, but there's got to be some reason for the, the softness here. And we're going to work throughout the day and tomorrow to get to the bottom of it, particularly on the revisions which are pretty big. Joe Allen, here's what we're going to explain. I want to play the coal open to yours because you've had two individuals already at the leading edge of this come out and say that AGI, artificial General Intelligence, at least the way I take that they're saying is a thing that is going to be coming quite soon, much sooner than people thought. Is that your interpretation.
Joe Allen
Steve? Yeah. The most aggressive predictions are basically spreading like wildfire across San Francisco where the tech hub is. You know, no one has any idea what's going to be spit out the other end of say OpenAI's current project to produce GPT5. But you're hearing again and again and again from Sam Altman, Mark Zuckerberg, Eric Schmidt, this promise that AGI is imminent. If they're wrong, then this is the most egregious and ridiculous bubble that anyone has yet pulled off. If they're right, then what they're talking about basically is creating a little G God in a box, a system that will basically replace every intellectual job on the planet. Maybe not in a day, but every single one of them seem to have this vision that either you will be forced to use these systems, which is already happening in corporations and schools across the world, or you'll be outmoded, you'll be replaced. You won't be cognitively effective in the new digital ecosystem if you don't in essence, merge with the AI just beyond that, of course, they promise superintelligence. As the AGI begins to improve itself, then the belief that they have. And as they scale these systems up, the belief is that they'll create something that is basically a big G God in a box. It looks an awful lot like a UFO cult to me, Steve. They're promising an alien intelligence that is superior to humanity that will arrive any day now to relieve us of our toil and perhaps even our physical bodies themselves.
Steve Bannon
If it was an AI, if it was a one of these cults, and you did, I think you did a meme about this which is quite powerful. It was just a UFO cult. It wouldn't have an impact or matter in people's daily lives. This is about to over not have an impact on your life. This is going to overwhelm every aspect of your life. Right. And actually change your life and probably change your life pretty dramatically. Let's play. We have the cold. Let's go. You had a. You had a put together a video for us. Let's go and show that and I'll bring you back.
Tech Executive
We are building something profound. This is a kind of brain for the world. It'll be personal, adaptable, it'll be easy to use. It'll give people incredible superpowers that were sort of science fiction only a couple of years ago.
Okay, so we believe as an industry, that in the next one year, the vast majority of programmers will be replaced by AI programmers.
Steve Bannon
It probably would look like what you might consider a very attractive extraterrestrial.
Tech Executive
What I think an even more meaningful impact in our lives is going to come from everyone having a personal superintelligence that helps you achieve your goals, create what you want to see in the world, be a better friend, and grow to become the person that you aspire to be.
Steve Bannon
Insects or slimy reptilians or eyes so big that you could fall into them.
Tech Executive
One way to say this is that within three to five years, we'll have what is called general intelligence. AGI, which can be defined as a system that is as smart as the smartest mathematician, physicist, you know, artist, writer, thinker, politician.
Steve Bannon
The people of OpenAI, Google, Meta and countless startups are proving once again that America is impossible. You are just impossible to beat.
Tech Executive
I want to talk about our new effort, Meta Superintelligence Labs, and our vision to build personal superintelligence for everyone.
Steve Bannon
The only real extraterrestrials have a body similar to human body.
Tech Executive
So now we're starting to look ahead to superintelligence. And even more than before, our focus must be on wide and fair access.
What happens when every single one of us has the equivalent of the smartest human on every problem in our pocket?
I think that personal devices like glasses that can see what we see, hear what we hear, and interact with us throughout the day are going to become our main computing devices in the next year or two.
This foundation is being locked in and we're not going to stop. It gets much more interesting after that, because remember, the computers are now doing self improvement. They're learning how to plan, and they don't have to listen to us anymore. We call that super intelligence, or asi, Artificial super intelligence. And this is the theory that there will be computers that are smarter than the sum of humans. The San Francisco consensus is this occurs within six years.
Steve Bannon
When the end of that occurs, then they have reached a condition of having overcome human behavior, human thinking, human desires, desiring only to be in the kingdom of heaven, in the evolutionary level above human.
Tech Executive
This is a kind of brain for the world. It'll be personal, adaptable, it'll be easy to use. It'll give people incredible superpowers that were sort of science fiction only a couple of years ago.
Steve Bannon
If we. I think we need to recut that for after the break because I just want to have Altman and Zuckerberg next to each other. I wanted to have those. If we can do that, if our crack team can do that. Cut out everything else. You had the UF UFO cult guy in there, and it's very powerful because it's. It sounds like the same level of crazy, or I shouldn't say crazy. You know, not. He's not rational. However, they're sending. They're sending a very big signal right now, Joe, and that's what we need to focus on. They're telling us something different. Schmidt's thing was from a little while ago, right. The other two. Three months ago, last 24 hours. Correct. Three months ago. He's also signaling. He. He's signaling there. There. He's signaling what's going to happen. He said right there about the. About the, you know, about the programmers, which I keep saying, you know, learn to code. Well, that's not going to be that relevant anymore, since coding was like learning Sanskrit and you had a bunch of kind of average coders or good coders. And it was the people got jobs and then you had the Einsteins, you know, the handful of Einstein's up here, the, and Joe Lavarnier took a crack at answering the question, took a crack at answering the question and his response was, hey, this capital expenditure is going to, we're going to build data centers, we're going to build this technology, we're going to build this and you're going to have a lot of blue collar jobs. He's absolutely correct. The construction of this and the, and all that is going to have a big boost on blue collar, you know, that skill set, the skill set of people that work with their hands and their heads that know how to make things. However, the real question I was asking is on the other side, is that coming or not? And what is disturbing to me anyway is that in the last 24 hours we've had Altman and, and Zuckerberg, and Zuckerberg is, you know, he's now putting out contracts to try to get the AI superstars at levels of, you know, signing people to $100 million contracts. There's clearly something. Joe, take a minute here before we go to break. There's clearly something up of what they're seeing in the Frontier labs because they're conditioning us now for a big development that is upon us. Do I interpret that correctly, sir?
Joe Allen
One of two things are happening there, Steve. Either they're conditioning us for what's about to be released from OpenAI or conditioning US to believe at the very least that these companies have this and are using it internally, or it's a major flop. It wouldn't be the first time, but certainly they can't keep promising that AGI is imminent and never produce either the bubble pops or they unleash some sort of bizarre digital demon upon the world.
Steve Bannon
No, I don't know. They haven't, they haven't promoted that AGI is, is here. We've always heard. He just said the consensus was six years away. I don't think we'll take a break. I don't think I haven't heard that they've said, oh, AGI is upon us and we're going to have it in the next six months. It's always been to me, it's been in the out years, three, four, five or six years. Anyway, we got Joe Allen's here. It's the 83rd birthday of Jerry Garcia. I heard at Golden Gate park what Billy, Billy Strings is gonna open is Gonna open this 400. There's 400,000 people heading there. This is like the electric Kool Aid acid test. Anyway, short commercial break. Joe Allen on the other side. Hey, I realize you got many choices when it comes to who you choose for your cell phone service and there are new ones popping up all the time. But here's the truth. There's only one that boldly stands in the gap for every American that believes that freedom is worth fighting for. And that's the team at Patriot Mobile. For more than 12 years Patriot Mobile has been on the front lines of fighting for our God given rights and freedoms while also providing exceptional nationwide cell phone service with access to all three of the main networks. Don't just take my word for it, ask the hundreds of thousands of Americans who've made the switch are now supporting causes they believe in. Simply by joining Patriot Mobile, switching is easier than ever. Activate in minutes from the comfort of your own home. Keep your number, keep your phone or upgrade. Patriot Mobile's all US based support team is standing by to take care of you. Call 978-PATRIOT-TODAY or go to patriotmobile.com Bannon that's patriotmobile.com Bannon use the promo code Bannon for a free month of service. That's patriotmobile.com SL Bannon. Or call 972 PATRIOT and make the switch today.
Rick Santelli
Here's your host, Stephen K. Ban.
Steve Bannon
So with everything going, everything else going on today, we're going to get to that because there's a lot we've got to get to this because there's been a signal sent to us in the last 24 hours and this is not Elon. First of all, these people are freaks, okay? They've been throughout mankind's recorded history. They've been two things. Gold's been a hedge and these people have been social outcast. Go back and read any history you want. They've been social outcasts. Now they're essentially running things because they're doing things that may be irreversible. The and this is not Elon Musk who's remember his whole concept is to sprinkle pixie dust on something, right? If Tesla's going to it's going to be the change everything with cars. When that doesn't work out and the cybertrucks doesn't sell, he sprinkles more pixie dust. It's going to be something else. We're going to go to the, we're going to go to the moon. We're going to expand human consciousness it's pixie dust. You know, he's a P.T. barnum. He's a. He's a promoter. Look, don't get me wrong, great engineer has done some extraordinary things, but at heart, he's a promoter. These other two guys, as screwed up as they are, haven't traditionally been to Zuckerberg. More so. But Altman not. Let's play. Have we cut it yet? And we will have it. If we don't, we. We'll get to it in a moment. Moment. Okay, let's go ahead and play. I want to play that recut. Your thing was brilliant, particularly the way you put in. Was that the Heaven's Gate cult that you intercut it with?
Joe Allen
Joe Allen, Marshall Applewhite. I think Marshall Applewhite will stand as a symbol of American novelty and also a warning for what happens when you drink the Kool Aid. Without a doubt, it would appear that Altman and Zuckerberg and Schmidt have drank the Kool Aid. They believe this super intelligence is incoming. It is an alien intelligence. They're literally talking about a being smarter than every human on Earth. And they're directing the public's attention to this as the new authority on what is and isn't true, what is and isn't good.
Steve Bannon
What's most shocking too is they have the exact same. I mean, it's just the same resemblance, the same blank look, the same, devoid of humanity when they address you.
Joe Allen
When we reported on Zuckerberg, you brought up a great point that he had to have had a marketing team put all that together and coach him through the whole thing. Altman would have had the same. I think we've cracked the code. I'm pretty certain that they were looking at those old Heaven's Gate videos and they're like, this worked. Maybe it can work on millions or even billions.
Steve Bannon
Okay, well, hang on. We've recut the video, so let's just see Altman. And this is. This has taken place in the last 24 hours, correct?
Joe Allen
Before Altman. Video just surfaced yesterday. I can't find the source on it surfaced on Reddit, but I believe it's addressing Norway. The context indicates is a video addressing Norway trying to get them on board probably the Project Stargate expansion. And to believe that super intelligence is coming.
Steve Bannon
So there's a message coming from these two guys. Let's go and play it.
Tech Executive
We are building something profound. This is a kind of brain for the world. It'll be personal, adaptable, it'll be easy to use. It'll give people incredible Superpowers that were sort of science fiction only a couple of years ago.
I think an even more meaningful impact in our lives is going to come from everyone having a personal superintelligence that helps you achieve your goals, create what you want to see in the world, be a better friend, and grow to become the person that you aspire to be. Want to talk about our new effort, Meta Superintelligence Labs, and our vision to build personal superintelligence for everyone.
So now we're starting to look ahead to superintelligence. And even more than before, our focus must be on wide and fair access.
I think that personal devices like glasses that can see what we see, hear what we hear, and interact with us throughout the day are going to become our main computing devices, kind of brain for the world.
It'll be personal, adaptable, it'll be easy to use. It'll give people incredible superpowers that were sort of science fiction only a couple of years ago.
Steve Bannon
This is artificial General. General intelligence is the combination of all of. It's the ultimate goal here. That is what they consider singularity. And now they are directly tying it back to you personally that you're going to have. It's not going to be some macro, just governments, intelligence services. The selling point is, no, you're going to have it like you have an automobile, you have a refrigerator. They're selling these like they sold TVs back in the 1950s and 60s. You can tell that they're quite nervous about overall acceptance of this from the humans. Right. So now they're going to. Now they're going to sell you on the fact that the super intelligence is going to bring out all your latent superpowers. Joe Allen.
Joe Allen
Well, if you look at what's happening right now, Meta has long been behind on artificial intelligence. They were big promoters of open sourcing. Their model Llama is one of the most downloaded open sourced AIs there is. But their chief AI scientist, Yann LeCun, he always poo pooed the idea that AGI is coming. It's impossible that it's going to come by way of LLMs. You can't just keep building bigger and bigger data centers. He said to make bigger AIs to create AGI, it had to be some other method. Well, Zuckerberg, watching all these frontier AI models rocket ahead of him, decided that he would begin his superintelligence labs. He brought on Andrew or Alexander Wang, who was previously at Scale AI, the billionaire boy genius, to run the super intelligence labs. And I think that Zuckerberg right now is in the sales phase. He's saying our company, along with having 3.5 billion users, along with already having people who are addicted to these AI companions, along with the steadily increasing usage of these bizarre self surveillance glasses that watch everything that you watch and hear everything that you hear that they, metta will be able to create this big G God in a box. I don't say that flippantly either when I say that they're talking about creating little G gods with artificial general intelligence and big G gods with super intelligence. I mean exactly that. How else are you to interpret some being to which everyone turns for the truth and which is in everyone's hand or on everyone's foreheads?
Steve Bannon
We're going to have to look. They're summoning the demon. Let me be blunt. They're summoning the demon and you got Palantir with the surveillance. You got the health of the data we got to get. So Joe, here's what I want to do. I want to go have you go back to work here and come back and join me in the five to seven hour and I'm going to do some work this afternoon and you and I are going to put our heads together and we're going to be a little, we're going to be even more sharply focused on this this evening because there is a lot going on here and a lot of it is not great. Just a lot of it's not great. If you have, if we're, if we achieve artificial general intelligence, I don't know, next hundred days, next six months, the world is not ready for that. Societal structures are not ready for that. Just not ready for it. And if they're not ready for it, trust me, it'll be put to bad use. Joe Allen, where do people get you in the interim? Your social media, all of it.
Joe Allen
Social media, oebotxyz website, jobot xyz and in about an hour and a half, if the audience is interested, the AI and Faith summit, I'll be answering the questions. Is AI the will of God, the work of the devil, or the mere tinkering of man?
Steve Bannon
Yeah, that's going to be. You're going to go on at noon. We're going to stream that. So Grace and Mo, I think are on that. AI and faith. We're going to have all that, Joe, with your, your talk and your, your Q and A. So we look forward to seeing it. That's at 12 noon basically, sir.
Joe Allen
1240, yes, 1240.
Steve Bannon
Perfect. So two hours. Okay, great. We'll be on top of it, and then I'll talk to you this afternoon. Joe Allen.
Joe Allen
Thank you, Steve.
Steve Bannon
James o' Keefe is. Is warned us as he's done so so many times with this undercover, his undercover investigations. Let's go play. We got an opening video from James, and we'll bring James o'. Keefe. Do you know when the ICE raids are gonna happen? Yeah.
James O'Keefe
And so my organization runs a couple.
Steve Bannon
Of databases where we can see, like, ICE trends, like, where they're keeping people. Where are they, like, moving people around.
James O'Keefe
We like to keep track of everything.
Steve Bannon
That'S happening with ice as much as.
James O'Keefe
Like, information as they'll give us.
Steve Bannon
Sometimes we have to, like, sue them to get information. Who's your main donor? It's usually like, foundations like the Gates foundation or Jeff Bezos or like, some of these, like, huge philanthropists who, like.
James O'Keefe
Have millions of dollars. And Vera is proud of their work. Santiago Muque candidly shared how Vera created notification systems to alert illegals of ICE agents and impending raids.
Steve Bannon
These organizations, at worst, they could be setting up ICE officers to be put into dangerous situations where they are harmed. James o' Keefe joins us. James, is this one of the reasons we're struggling a little bit to do the mass. To kick into the mass deportation part of this, now that we have $170 billion and a supply chain logistics system being built? Is. Is this the NGOs with databases, a lot of funding that are essentially thwarting the will of the American people. Sir.
James O'Keefe
Hey, Steve. Good to be with you. Yes, this appears to be a violation of federal law, specifically Title 8, U.S. code 1374. And I think the key quote from this guy who works for a nonprofit is he says, quote, if you see someone from ice, you can text the group and it'll go on a website and illegal aliens can avoid the area, unquote. So they're actually deploying alert systems to notify them of approaching ICE raid. Now they're going to say, well, they're just informing people, but that's the issue. It's an obstruction of justice issue. And what's also interesting, Steve, is that he actually names donors and he says, Bezos and Gates, we looked at their 990 tax return. It doesn't say a name on there, but it's $188 million from. From one person to this nonprofit. But it's rare that you actually get to see that admission where they're actually creating notifications for illegal immigrants.
Steve Bannon
What's disturbing also, I mean, it was very Sophisticated. He said they had eight separate databases. They could check immediately and put out alerts. Does that come from their ability to people giving them $180 million so they have that type of capital investment, they can get access to those databases?
James O'Keefe
Yes. What's also disturbing, and I didn't know this, Steve, but he admits that the government had given him Money and in 2023 they got $350 million from Health and Human Services. 350. The United States government is funding that or was funding this? 171. Excuse me, from Department of Health and Human Services. So now they're getting funding from. We believe it's Mackenzie Bezos, not Jeff Bezos. Bezos ex wife. After that divorce, she got a lot of capital to go fund this. But what's specifically outrageous about this is they're actually. They have texting groups and notification systems and then. And then this is. This is new to. The DOJ has issued a statement, the DHS has issued a statement saying that they're going to prosecute. Steve. We'll see. But they're. We got a statement from the White House DOJ and, and DHS saying they are going to, quote, take action. Their ICE law enforcement already faces 800% increase in assaults against them after what's happening, Shielding criminals from justice.
Steve Bannon
Are you. Have they. Have they debriefed as either DOJ or DHS debriefed your investigative reporter yet for all the details. I mean, are you guys being. Is your material being used to actually correct this?
James O'Keefe
This is a statement from dhs and I would love that, by the way. I hope for that. It's rare that we get a statement from the White House Department of Justice and dhs. But they said, quote, our brave. This is last night. Our brave ICE officers are getting the worst of the worst by telegraphing operations. Not only are they shielding criminals from justice, they're putting our law enforcement in harm's way as they target highly sophisticated gangs. Our ICE law enforcement already faces 800% in assaults against them. We are going to take action. So this appears to be obstruction of justice. They're saying they're informing. They have a First Amendment right to inform. But this kind of may cross that legal line, Steve. And you know, I know your audience feels this way. My audience is pissed off. I keep reporting this stuff. I have report every undercover report every week. I'll have one next week. But no one is arrested or ever held accountable. So certainly that's the issue. I don't have the power to arrest anybody. But I hope that they do get.
Steve Bannon
Hang on. Yeah, just stick around for a second because the audience is already all over this because we've got to pivot to the mass deportation phase and this is absolutely obstruction of federal law. Right short commercial break. Jerry Garcia will take us out. James o' Keefe will bring us back in. In a moment. You may be the fate of Ophelia Sleeping. Empathy. Chance to dream. If you're a homeowner, you need to listen to this. In today's AI and cyber world, scammers are stealing home titles with more ease than ever. And your equity is the target. Here's how it works. Criminals forge your signature on one document, use a fake notary stamp, pay small fee with your county, and boom. Your home title has been transferred out of your name. Then they take out loans using your equity or even sell your property. You won't even know it's happened until you get a collection or foreclosure notice. So let me ask you, when was the last time you personally checked your home title? If you're like me, the answer is never. And that's exactly what scammers are counting on. That's why I trust Home Title Lock. Use promo code steve@hometitlelock.com to make sure your title is still in your name. You also get a free title history report, plus a free 14 day trial of their million dollar triple lock protection. That's 247 monitoring of your title, urgent alerts to any changes, and if fraud should happen, they'll spend up to $1 million to fix it. Go to hometitle lock.com now. Use promo code Steve. That's hometitle lock.com promo code Steve. Do it today.
Rick Santelli
Here's your host, Stephen K. Band.
Steve Bannon
So, James, James, I got you staying over because you're one of the great warriors. I mean, come on, man, you do the best investigative work out there. This is not a small thing. This is a huge thing. It shows you that these NGOs backed by these oligarch billionaires. Oh, did I mention that these are the people in back of AI too, folks. Guarantee. I'm guarantee you one thing. This jobs report, and particularly the recasting is very much tied to artificial intelligence. Now, a lot of people are maybe going to try to spin it. Oh, it's not. You can see these great earnings reports and no job creation. You're going to hear this restatement. This AI is literally out of control. You're summoning the demon and here you've got a situation. We have all These databases, you have these NGOs, you see the guy in the video, another bad hombre, right? And. And they're kind of laughing at you, the laughing in your face because had these oligarch billionaires or the divorced wives of the billionaires, the oligarchs, they're putting in hundreds of millions of dollars to make sure that illegal alien invaders are not mass deport. And let's be honest, the mass deportations were kind of hung up right now. We're still getting bad hombres out, but they're throwing up every legal challenge, and we haven't pivoted hard to the 10 to 20 million that gotta go. If they don't go, we don't have a country. We haven't. We can build all the walls we want. We can stop them all from coming in. And that's been extraordinary, what President Trump has done. But you have to have mass deportations. And James o', Keefe, you are basically telling the Justice Department and DHS we're not going to have mass deportations until this problem's taken care of, right? This has got that. We can't mess around with this. They got. You got to be. And you're in D.C. you should be over there being interviewed by these people right now, and your investigative reporter. All the footage, all footage. And then they should go in and bust this thing up. That guy in that video should be arrested this afternoon. And his superiors and the people that wrote him a check, they ought to go perp walk. If it's Bezos's divorced wife, McKinsey, they got to go. You know, she's in between husbands right now. They got to go perp walk her, sir.
James O'Keefe
Well, I'm in D.C. right now, Steve, about to meet with a Cabinet level official on another story I'm dropping very soon. And I hope the DOJ prosecutes that guy. But the direct quote, I want to reiterate to your audience, quote, this is from an NGO director who has now deleted his LinkedIn and his X account. Quote, if you see someone from ice, you can text the group and it'll go on a website so that illegals can avoid the area. That seems to be way beyond informing. That seems to go to obstruction. And the ngo, the nonprofit, denies that, that they're doing that. He says they're doing it. So now he's deleted all the social media accounts. The DHS has said they're going to take action, quote, unquote. I don't know what that means, but people need to be arrested, Steve. Bannon, I've been arrested multiple times. You've been arrested? It seems like they always arrest the people who are reporting on this stuff, not the people who are doing it.
Steve Bannon
Yeah, well, between this and the. And all the revelations coming out on the Tulsi Gabbard treasonous conspiracy, which they're manifold. We're going to get to that in the next hour. O', Keefe, your warrior. I will make sure as soon as I'm off the show, the people, the contacts I have, you've got to be talked to, interviewed. This thing with the NGOs and being supported. This is a direct thwarting of the will of the American people, what they voted for. This is anti democratic and it's got to be stopped. James, all your different investigations work. Go ahead. Where do people go to contact you? Where they contact you? Where? The social media. Your website for o' Keefe Media Group.
James O'Keefe
Where they go, omg. O' Keefe Media Group dot com. We're also a nonprofit, but there's our number on the. On the website. Contact us. And Steve, I promise we're working on some major things right now at various agencies, including the IRS and other agencies. And. And if people don't get arrested, I'm going to start investigating the. The people who are refusing to arrest these people because I've got some stuff that's insane. I'm in dc, Steve, so if you have contacts for me to meet with, message me offline. I'd love to. I'd love to get some accountability going.
Steve Bannon
Yeah, no, I'm gonna call you as soon as the. Let me get. Catch my breath as soon as the show's over. And I'm gonna call you because, you know, you're not too far. You're not too far wrong there. We need to see movement. Now, when you deliver the type of things you're delivering right there, which shows you there's a cabal of oligarchs and their cash with these NGOs. And look, the NGOs and you mentioned took the government money during Biden's time and work. Part of it worked to suppress the free media. The rest of it worked to exacerbate and work with this invasion of the country. We never had 10 to 20 million people in here if the NGOs weren't a major part of it. They're just working the other side of the street right now. They're still doing the same thing they're trying to protect. Here's the folks. They think they can wait us out. They said yeah, Trump won. He came back, it was great. He did some stuff. But they're going to wait us out. Their whole point is to wait us out, and that's how they're going to do with these NGOs. So this is a huge thing. It's got to be addressed. And you're absolutely correct. If people are going to take action on things, then they have to be held accountable. We've got to hold people accountable. They're in positions of power and can do things. So, James, thank you so much for doing it. Your investigative work is always top level and cuts to the heart of the matter. So thank you, sir.
James O'Keefe
From one warrior to another. Thank you, Steve.
Steve Bannon
Thank you, brother. Appreciate you. We don't need statements. What you need to do is get o' Keefe and the reporter in with all the footage, see it all, and then let's go. Go roll. First off they go. Kick down the door of wherever this place is. Have the reporter. Yeah, this room a boom. Kick down the door to put them all, cuff them all, take them down, throw them in a paddy wagon. Take them down, you know, take them downtown, book them, let them stay down in the, you know, go. If it's in New York, let's stay in the Tombs for a couple of nights and then figure it out. If he. If either. It's not going to stop until you make it stop. You can't play nice with these people. You see what they're doing right there? And, and remember these databases, they want to dox the. The ICE officers. This is one of the reasons it's very tough to recruit for Customs and Borders. Very tough to recruit for ICE because they want to threaten these people's lives and their children's lives and their homes, all of it. This is why you're not. This is why you have to be masked if you're a nice officer. There is a massive, massive resistance to this. And it's funded by the same groups that are funding Mom Danny in New York City. It's that green. It's the Marxist and radical jihadists. And here you have these billionaires or the ex spouses of billionaires. Can't figure out, you know, they've run through a couple of boy toys. So now they want to, you know, have be social justice warriors. And they're going to write big checks and support this crap, go in and tear it down immediately and arrest them, put them in jail. If you want to stop it, let's stop it. I don't need a statement. Let's just go do it. Action, action, action. A lot of action down in Texas. Action on recess, action on rescissions. The three R's. Everything's grinding right. Understand, President, they put another 10 to be nominated. I'm not sure that's good enough. Just call recess and let President Trump do recess appointments. We're going to have EJ And Tony here on the going to have. Senator Tuberville is going to join us. I think we're going to get Senator Mike Lee. We've got a special guest from Brazil. We're making it up as we go along on the commemoration, Jerry Garcia's 83rd birthday here in the war room. What if he had the brightest mind in the war room delivering critical financial research every month? Steve Bannon here. War Room listeners know Jim Rickards. I love this guy. He's our wise man. A former CIA, Pentagon and White House advisor with an unmatched grasp of geopolitics and capital markets. Jim predicted Trump's Electoral College victory exactly 312 to 226, down to the actual number itself. Now he's issuing a dire warning about April 11, a moment that could define Trump's presidency and your financial future. His latest book, MoneyGPT, exposes how AI is setting the stage for financial chaos, bank runs at lightning speeds, algorithm driven crashes and even threats to national security. Right now, War room members get a free copy of MoneyGPT when they sign up for Strategic Intelligence. This is Jim's flagship financial newsletter, Strategic Intelligence. I read it. You should read it. Time is running out. Go to rickardswarroom.com that's all, one word. Rickards War Room. Rickards with an S. Go now and claim your free book. That's rickardswarroom. Com. Do it today.
Bannon's War Room – Episode 4675 Summary
Release Date: August 1, 2025
In Episode 4675 of Bannon's War Room, host Stephen K. Bannon delves into a myriad of pressing issues facing the United States and the world. The episode, titled "Summoning The Demon Of AI; ICE Officers Under Threat From Extreme Leftists," offers a comprehensive analysis of economic shifts, the burgeoning influence of artificial intelligence, and challenges to immigration enforcement. Below is a detailed summary capturing the key discussions, insights, and conclusions from the episode.
The episode opens with a Commentator 1 providing a historic perspective on recent trade policy changes:
"This is the night that the global free trade era begun by the United States in the post-war era, led by the United States really came to an end. There is now, I think, a permanent tariff curtain around this country." ([00:00])
Bannon underscores the significance of unilateral tariff implementations, highlighting concerns over their legality and democratic process. The shift marks a stark departure from decades-long efforts to reduce tariff barriers and promote free trade.
Rick Santelli presents the latest non-farm payroll data:
"Non-farm payrolls up 73,000... two-month revision minus 258,000. Average hourly earnings up 3.10% on a month-to-month basis." ([01:02])
The economic analyst adds context to the numbers:
"These massive downward revisions are not new to this year... this is a post-COVID data collection problem." ([03:45])
Host Steve Bannon engages with Joe Lavornier from the Treasury to dissect the implications of the jobs report. Lavornier highlights positive aspects such as low layoffs and strong capital expenditures (CapEx) growth, which he believes bode well for future employment and wage increases.
"All of the job gains year-to-date have been in native-born employment... foreign-born employment... was actually down a million." ([07:27])
Bannon raises concerns about CapEx related to artificial intelligence potentially not translating into the anticipated job growth, especially in entry-level white-collar positions.
"A lot of it's coming in capital expenditures related to artificial intelligence... you will not get the labor pickup you think." ([08:57])
Lavornier counters by emphasizing that not all CapEx is AI-driven and anticipates diversified growth across various sectors, insisting that the overall economic outlook remains optimistic.
A significant portion of the episode is dedicated to the rapid advancements in artificial intelligence (AI) and its potential ramifications. Bannon discusses with Joe Allen the aggressive predictions surrounding Artificial General Intelligence (AGI).
"AGI is imminent... creating a little G God in a box, a system that will replace every intellectual job on the planet." ([19:19])
A Tech Executive provides insight into the industry's vision:
"Within three to five years, we'll have what is called general intelligence... personal superintelligence that helps you achieve your goals." ([22:07])
Bannon critiques the portrayal of AI as benevolent, likening it to a cult-like belief system:
"They're summoning the demon... this is artificial General intelligence... they're tying it back to you personally." ([34:33])
Joe Allen warns of the societal unpreparedness for AGI and the potential for misuse:
"If we achieve artificial general intelligence... the world is not ready for that. It'll be put to bad use." ([37:11])
The discussion paints a picture of AI as a double-edged sword—promising unprecedented advancements while posing existential threats to employment and societal structures.
The episode shifts focus to the challenges faced by Immigration and Customs Enforcement (ICE) officers. James O'Keefe joins the discussion, presenting investigations into NGOs obstructing ICE operations.
"If you see someone from ICE, you can text the group and it'll go on a website so that illegals can avoid the area." ([38:30])
O'Keefe exposes how certain nonprofits are equipped with databases and resources, funded by prominent philanthropists, to alert illegal immigrants of impending ICE raids. This obstruction has led to a dramatic increase in assaults against ICE officers.
"ICE law enforcement already faces 800% increase in assaults against them." ([41:49])
Bannon and O'Keefe debate the legal and ethical implications, calling for immediate accountability and action against those hindering mass deportations.
Bannon highlights the geopolitical maneuvers of BRICS nations (Brazil, Russia, India, China, and South Africa) in their attempt to displace the US dollar as the global reserve currency.
"The global demand for US dollars will decrease, bringing down the value of the dollar and your savings." ([06:10])
The Commentator explains the significance of the "Rio Reset", where BRICS aims to shift global economic power dynamics, potentially undermining the US financial supremacy.
Interspersed within the content are several promotional segments for affiliated services such as Birch Gold Group, Getter App, Patriot Mobile, and Home Title Lock. These segments offer listeners opportunities to diversify savings into gold, access uncensored content, support conservative causes, and protect home titles from cyber fraud.
In the closing segments, Bannon reiterates the urgent need to address the multifaceted threats discussed:
"They're summoning the demon... if you want to stop it, let's stop it. Action, action, action." ([50:29])
He encourages listeners to engage with investigative efforts and support initiatives aimed at safeguarding American interests against economic, technological, and political adversities.
Notable Quotes with Timestamps:
Final Thoughts
Episode 4675 of Bannon's War Room serves as a critical exposé on the intertwining challenges of economic policies, technological advancements, and national security. Through incisive discussions and expert insights, Bannon highlights the pressing need for decisive action to navigate the complex landscape shaping America's future.