Bannon’s War Room: Episode 4735

Date: August 26, 2025

Main Theme:
A deep dive into national security threats from China—especially through student visas and academic infiltration—continued U.S. support for Ukraine, and significant developments at the Federal Reserve. The War Room panel explores how these issues intertwine, revealing concerns over espionage, U.S. managed decline rhetoric, internal battles within intelligence and government institutions, and the politicization of economic policy.

Key Discussion Points & Insights

1. Chinese Student Visas & National Security

• Opening Discussion:
  The show begins with an exchange about the Trump administration's stance on Chinese student visas, with Donald Trump stating a preference to keep such students coming to the U.S. (00:26–02:40).

• Natalie Winters Critique:
  Winters sharply criticizes the policy, arguing these "aren't students, these are spies" and that the issue is more than just visa numbers: "The short term consequences are IP theft, espionage, cybersecurity incidents... at best training the next generation of CCP leaders, at worst the people we'll be meeting on the battlefield." (04:12–07:08)

• Sam Faddis’ Perspective:
  Former CIA officer Sam Faddis asserts every Chinese student can be compelled to spy for the CCP. He likens this to "an offer you can't refuse" and warns, "We are already watching them put stealth jet fighters in the air that are pretty damn close to being carbon copies of what we are flying." (07:08–13:40)

  "Every Chinese citizen that comes here will, if the CCP wants, be compelled to spy on us. Not because they want to... but because they have no choice."
  — Sam Faddis (08:09)

• American Academic Compromise:
  Winters and Faddis discuss how U.S. universities may be more anti-American than Chinese ones, citing programs (like Harvard’s Ash Center) that directly trained Chinese officials—even those tied to Xinjiang repression. (09:36–11:11)

  "We're basically doing their research and their development for them already."
  — Sam Faddis (13:23)

• Macro Narrative:
  Both see Chinese infiltration in academia as a well-organized, billion-dollar operation for intelligence and influence, not just individual abuse.

2. Internal Battles in U.S. Intelligence & Ukraine

• Gabbard’s Intel Sharing Restriction:
  Sam Faddis explains that Director Gabbard issued an unusually high-level order designating all Russia-Ukraine negotiation intel as "NOFORN" (not to be shared with foreign nations). Faddis sees this as an indictment of trust within U.S. intelligence, “so concerned... she cannot trust her own agencies not to basically stab the president in the back.” (17:16–19:38)

  "She's so concerned that somebody's going to pass The Brits or somebody else intel they shouldn't see that she felt it necessary to issue that order."
  — Sam Faddis (18:39)

• War for Influence:
  Winters and Faddis agree powerful factions want to "turn Ukraine into the next forever war," and media will spin any move away from intel sharing as “pro-Russia.” (20:18–21:20)
  They further expose deep-state tactics by highlighting locked-in Pentagon contracts for Ukraine lasting through 2032-33.

3. Fed Shake-Up, Lisa Cook Controversy, and China’s Influence

• Trump on the Fed:
  President Trump calls Jerome Powell “Too Late” and blames high interest rates for hurting “phenomenal” housing markets. Allusions are made to upcoming leadership changes at the Fed, with Rich Stern and Natalie Winters speculating on replacements. (25:23–27:22)

  "Because of him and his high interest rates, the housing is less than it could be... His nickname is Too Late."
  — Donald Trump (26:10)

• Lisa Cook’s Alleged Mortgage Fraud:
  Rich Stern reports on "serious crime" allegations against Fed Governor Lisa Cook—accusing her of claiming two different homes as primary residences for loan advantages, politicizing the firing as warranted for cause. (30:23–31:48)

  "The deep state always makes a lot of noise on the way out the door."
  — Rich Stern (30:23)

• China & the Fed:
  Winters draws attention to Fed research co-authored with CCP academics and a Senate report on PRC infiltration of the Fed—including attempts to extract documents from U.S. Fed officials in China. (34:11–36:30)

4. U.S. Territories & Loopholes in Chinese Entry

• Northern Mariana Islands as a Security Loophole:
  Cleo Pascal details how Chinese nationals can still enter the U.S. visa-free via the Commonwealth of the Northern Mariana Islands ("the only part of the United States where Chinese can come in without a visa"), easily reaching Guam and even military bases. Congressional efforts—ostensibly bipartisan—to tighten this have failed. (36:31-39:35)

• Political Influence and Corruption:
  Pascal and Winters discuss how officials with CCP ties lobby Congress (i.e., Jim Jordan, Brian Mast) under economic pretexts. FEC findings of campaign donations from Chinese companies to U.S. island politicians are highlighted—raising the specter of local officials appointed to key federal defense posts. (49:57–52:38)

  "What this is about at the end of the day is money."
  — Congressman Brian Mast recounted (46:23)

• Congressional Complicity:
  Winters lambasts representatives who "talk tough on China" but support policies facilitating Chinese access for economic gain, calling out "the mask dropping" when Rep. Mast says, "We're not anti-China, we want their money." (46:23–48:00)

Notable Quotes & Memorable Moments

• On CCP infiltration of academia:
  "We're essentially creating our own demise... managed decline."
  — Natalie Winters (06:00)

• On the reality of intelligence sharing:
  "In the normal course of business, that would always be true. Nobody in his right mind would pass this information to foreign countries."
  — Sam Faddis (17:54)

• On Fed governor Lisa Cook:
  "It really does look like Lisa Cook probably did commit mortgage fraud, which really is a serious crime."
  — Rich Stern (30:38)

• On Congress and China:
  "All these people talk very tough on China... in reality, they talk tough on China to inflate the defense spending and we never see anything in return while pushing bizarre programs like this."
  — Natalie Winters (43:38)

Timestamps for Major Segments

• 00:26–02:40 — Trump on Chinese students, espousing openness but "careful" vetting
• 04:12–07:08 — Natalie Winters’ critique: “These are not students, these are spies”
• 07:08–13:40 — Sam Faddis explains the espionage threat; technology theft
• 17:16–19:38 — Sam Faddis on Gabbard's order: intelligence community infighting
• 20:18–21:20 — Deep state motives to sustain Ukraine “forever war”
• 25:23–27:22 — Trump discusses Jerome Powell, possible Fed shake-up
• 30:23–31:48 — Rich Stern on Lisa Cook’s alleged mortgage fraud, politicized firings
• 34:11–36:30 — Winters details PRC infiltration of the Fed
• 36:31–39:35 — Cleo Pascal on Northern Mariana Islands visa loophole
• 41:25–46:23 — Rep. Jordan and Mast: caught supporting loopholes for economic reasons
• 49:57–52:38 — Pascal details corruption and strategic negligence in U.S. territories

Tone and Takeaways

• Tone:
  Combative, alarmist, patriotic, conspiratorial; heavy with references to national decline, corruption, “managed decline,” “deep state,” and the existential threat of China.

• For Listeners:
  This episode pulls back the curtain on the nexus between Chinese state activity and systemic vulnerabilities within U.S. education, territorial law, intelligence sharing, and even economic policy. While presenting a strongly partisan and sometimes conspiratorial viewpoint, it provides an unfiltered look at the War Room’s perspective on the internal and external threats facing America in 2025.

For more details or to follow the guests:

• Sam Faddis: Substack
• Rich Stern: X/Twitter @RichAStern, Heritage Foundation
• Cleo Pascal: X @CleoPaskal, Getter @RealCleo