
Episode 4942: Setting The Facts Straight On The Economy; Failure Of The American Health System ...
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News Anchor
News Mississippi now with exclusive reporting that a federal grand jury in Maryland is now investigating two Trump administration officials, Federal Housing Finance Agency Director Bill Pulte and DOJ pardon attorney Ed Martin. Now the investigation centers on whether they appointed unauthorized people to help with mortgage fraud investigations of California Democratic Senator Adam Schiff and New York Attorney General Letitia James. FBI agents have begun interviewing individuals about the way in which Bill Pulte, the Federal Housing Finance Chair, and Ed Martin, a DOJ official who used to be the U.S. attorney in Maryland before he was removed from that office. Whether they have improperly designated or deputized individuals to participate in investigating alleged mortgage fraud. Now Chris, you know that these mortgage fraud claims have been seriously criticized and questioned by career prosecutors who do not find that the evidence of mortgage fraud by either Letitia James or, forgive me, Adam Schiff, Senator Adam Schiff, have any real factual sufficiency to bring charges. Nevertheless, Bill Pulte has made these referrals and both Mr. Pulte and Mr. Martin have been pressuring prosecutors offices to bring these cases. Now the shoe is on the other foot. According to our sources and documents that we have reviewed at Ms. Now just this morning that indicate this has turned around in a way that the Department of Justice is investigating the methods used by these two top Trump allies.
Stephen K. Bannon
They not taking running the country serious. That's what I don't like.
Caller/Listener 1
I disapprove because where inflation groceries are higher than before disapprove of how he sends put ICE in the cities and they're all messed up. No one knows who they are. They're snatching people off the streets. Don't like that he's sending in the National Guards to these cities on the streets of the American people prices of groceries. Those are the things that immediately impact me immigration as much as you know I care about it, it doesn't. I have stocks thankfully a lot of them but it doesn't impact my day to day life. So that's why I'm strongly disapproving with regards to what he promised on day one. He promised to lower our groceries. Where are they now? Because of job market is really bad and housing prices and just inflation in general. Here, here's what it says about Mark and his law firm and George Soros. The Elias Law Group draws from the George Soros coffers. Counsel for the Instant Gonzalez plaintiffs David Fox is a partner at Elias which has collected more than $104 million from Democrat Party committees and donors, including Mr. Soros. Firm chair Mark Elias formed entities tucked inside large existing nonprofits that raised tens of millions of dollars from some of the richest donors on the left, including from foundations funded by Mr. Source. Okay, so that's three, just in that paragraph there. Your response, Mark.
Caller/Listener 2
Right.
Mark Elias
So, I mean, let's just start with the fact that in this case, as a law firm and as lawyers, we represented 13 individuals who are black and Hispanic voters who, who suffered, who suffered constitutional harm at the hands of the Republican legislature of Texas. And so we were vindicating their civil rights, their constitutional rights. And I am proud that the work that my law firm did to do that, I literally have no idea why I would be singled out by name. One of my partners would be singled out by name. And our connection to the Democratic Party, which, by the way, there are lots of sources you could use to say we're connected with the Democratic Party. I proudly represent the Democratic Party, although not in this case. In this case, we represented these 13 voters. And then George Soros, who, you know, like, I don't, as far as I know, I mean, he doesn't vote in Texas. I'm unaware of any relationship he has to this case. And it just is highly, highly inappropriate, to say the least. It is wildly unusual.
Stephen K. Bannon (Host)
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?
Stephen K. Bannon
MAGA MEDIA I wish in my soul.
Stephen K. Bannon (Host)
I wish that any of these people had a conscience. Ask yourself, what is my task and what is my purpose? If that answer is to save my country, this country will be saved.
Stephen K. Bannon
WAR ROOM here's your host, Stephen K. Ban.
Stephen K. Bannon (Host)
It's Thursday the 20th of November, year of our Lord 2025. We've got a lot to go through and we're going to get through it all today. It's going to be a packed 5 o' clock hour and 6 o' clock hour, but I've asked Dr. Peter Navarro to, to come over from the White House because I want to talk economics. They've had a bunch of these focus groups up from average Americans, a lot of people, independents who voted for President Trump, some who didn't, but a lot of people that voted for President Trump. And so I want to go through because, and I don't know what the reason is, the second Trump term has a very distinct view of the world and that is that we're going to return, we're going to reverse what's happened in this country, the globalization over the last 50 or 60 years. And the way we're going to do that through tax policy, industrial policy and trade policy, that we are going to return America to be a manufacturing superpower. Okay. So we have on one hand the big beautiful bill, which is a massive supply side tax cut to focus on capital. And in your department, you've been the President's essential trade czart now for what, 12 years, 10 years since you met President Trump in 2015, early 2016. So going on 10 years and now that case is before the Supreme Court about the total reorganization of this. Just walk through what your guys strategy is and what we're doing to execute on that strategy. Because now the economic part of it is clearly going to become a political issue because this, with all the noise and people running around and talking and every, you know, magus, this is going to come down to the economics of the country and where the country is economically starting in the spring, summer and fall of next year. The floor is yours, sir.
Stephen K. Bannon
Good to be with you, Steve and the war room. The challenge we face politically is that what we put in motion is going to take time. And in the meantime, people are still feeling significant pain in the inflation area. And the last thing we want to be doing is to tell people things are getting better when they're feeling.
Stephen K. Bannon (Host)
Did the White House and people sell the golden age too early? That the golden age is coming. But there's a lot of chopping.
Stephen K. Bannon
We've gotten the memo and what our challenge now, I think because the American people are reasonable and this audience is as smart as a whip is, we have to explain exactly what the inflation chessboard looks right now. So let me take a crack at that and go across the various areas. The first thing to state is that everything the Democrats do, when they become attractive in anybody's mind, you have to understand this. Everything they do is inflationary.
Stephen K. Bannon (Host)
And whether it's the fiscal spending money.
Stephen K. Bannon
Printing money, fiscal irresponsibility, certainly at the top of the list. But as I'm about to show you, the illegal aliens drive up rents. When you have overregulation, that drives up costs. When you do a Green New Deal, that drives up not just energy costs, but fertilizer costs. Literally everything they do, Steve, is inflationary. So when they're hammering us and Blaming us for not getting inflation down fast enough. People always have to remember where it came from. Now let me give you a couple of examples of the problem of lags. It's a problem of lags. So if you look at the rent issue, housing, it's 40% of the inflation, Steve. And it hits our people really, really hard. We have to be honest about that. Here's a stat for you. For every 1 million illegal aliens that came into this country during the Biden regime, and there were about 20 million overall, that raises rents nationally by 1% per 1 million people, you're saying 20%.
Stephen K. Bannon (Host)
Increase in rents just because of the open border, Steve.
Stephen K. Bannon
Okay, now it's worse than that. And if you want to explain the emergence of Mamdani and these communist mayors in blue major cities, that would be.
Stephen K. Bannon (Host)
The communist mayor that's with the president tomorrow.
Stephen K. Bannon
That would be the same communist mayor.
Stephen K. Bannon (Host)
Is this, is this a factoid legislature before his meeting?
Stephen K. Bannon
This is a fact that is is on the table here. Point is, if it's a 20% national average, it's really distributed more among the blue cities. So if rents are 30 to 35% higher, New York City and Mondamini's talking about rent control and people are understanding it, the whole frigging thing came because of Joe Biden's open ported policy. Okay? And it takes, in terms of lags, it takes a year and a half or two to wring that out of both the inflation and the inflation statistics. Now, number two, I'll give you. I love this example, Steve. We inherited a food price crisis. And I heard somebody in the cold open say we haven't done anything. Well, let's look at chickens versus cattle. I love this example. Chickens. We come in and again, what Biden did was kill over 100 million chickens, okay? Call it the great chicken slaughter because of a massive overreaction to avian flu. Yep. And egg prices and chicken prices went off the charts.
Stephen K. Bannon (Host)
Yep.
Stephen K. Bannon
Now here's the Good news. It's 45 days, Steve, from egg to broiler in the supermarket. 45 days. And we went at that. Brooke Rollins and the boss, President Trump went at that. Just like just right on it. And we solved that crisis. And both chicken and egg prices are down dramatically. But contrast that now with cattle, okay? Calf to your hamburger in the meat aisle. It's a year and a half, okay? We've been here 10 months, so this one's taking time. And we are on that one coming at it from 16 different angles because you have to one of the big problems, Steve, is that the middlemen, right. The beef processors, you know what the C4.4 firm concentration ratio is in that, Steve, do you know this? 85%. So you've got an oligopoly acting like a monopoly, sending stuff upstream to the supermarkets. And you got an oligopsony screwing the ranchers down below. And it gets worse. Of the four, two of them are Brazilian. And it's not just that it's foreign ownership, it's that the Brazilians are in bed with the Chinese. And there's decisions that can be made.
Stephen K. Bannon (Host)
Between Lula and the ccp.
Stephen K. Bannon
China buys something like half of the exports of Brazil and beef and a third or half of their soybeans. So when stuff starts to happen, these Brazilian middleman here in the US have choices about to make who gets the cattle.
Mark Elias
Right.
Stephen K. Bannon
So that can influence price. So we're having to deal with all of that. And on top of that, drought. So that, that. Those are really good examples. Now, energy, you look at energy for. We're killing on energy. Yep. Okay. Gas prices are way down. Price of oil is down to 60%. That's going to bring down fertile prices. So we have to do a good job of explaining to the American people what we're doing and why it's taking so long.
Stephen K. Bannon (Host)
I think that's. Look, you're winning in some of that and look also why you have these massive deficits. Inflation is only going to come down so much. I just think you're great when you're putting something out in the ft, the Journal, the Washington Times. Are you going to lay this out for people at some time?
Stephen K. Bannon
Yeah, I mean, look, I, I'm going out on, on TV and stuff, writing the op eds the other.
Stephen K. Bannon (Host)
On inflation.
News Anchor
Yeah, yeah, yeah.
Stephen K. Bannon
That's kind of job one right now.
Mark Elias
Okay.
Stephen K. Bannon (Host)
It's to explain to people, really.
Stephen K. Bannon
I mean, I've said this and you can get cold opens going on Maria and stuff like that. It's like right up until the election. Because, Steve, if we lose that election, if we lose the House, we're all going to jail, number one. And the country's going down the toilet, number two. And I think that would be number one. And us going to jail is probably number two.
Stephen K. Bannon (Host)
The vice President said that today, reiterated what I said, that just doing your work for President Trump to coming after you see about this grand jury in Maryland. We're gonna take a commercial break. I do want to get to. You've done affordability, but as I said in Axios today, because they had this article, the big red alert. I said, hey, we've made the bet. We've got, structurally what we're doing, it's just action is just execute on returning manufacturing.
Stephen K. Bannon
And that brings us to the other side of the equation which is rising real wages, short, short break.
Stephen K. Bannon (Host)
I said growth jobs and higher wages. So this is, I've given you a teed up. Yes sir, after the break. You're not a little rusty on being, on being a host? Let me be blunt. Gold is up around 40% this year. That's not speculation, that's reality. And if a portion of your savings isn't diversified into gold, you're missing the boat. Now here's the facts. Inflation is still too high, the US dollar is still too weak and the government debt is insurmountable. That is why central banks are flocking to gold. They're the ones driving up the prices now to record highs. But it's not too late to buy gold from Birch Gold Group and get in the door. Now Birch Gold will help you convert an existing IRA or 401k into a tax sheltered IRA. In gold, you don't pay a dime out of pocket. Just text Bannon to 989-898 and claim your free info kit. There's no obligation, just useful information. The best indicator of the future is the past. And gold has historically been a safe haven for a millennia. What else can you say? Text Bannon to 989-898 right now to claim your free info kit on gold. That's Bannon to 989-898. Protect your future today with Birch Gold.
Stephen K. Bannon
Here's your host, Stephen K. Ban.
Stephen K. Bannon (Host)
Okay, doctor, you got to get back to the White House, understand? So I want to make sure we use the best of the time. I said today in Axios they had this red alert of everything's wrong with the Trump administration. I said it's very simple. We made these bets, big structural bets, game changing bets about bringing manufacturing jobs that for 50 years let blood out. We need action, action, action. And the focus has always been growth jobs and higher wages. The floor is yours.
Stephen K. Bannon
It's growth, manufacturing jobs and higher wages. And that's even more important in an age of AI because even though robots are going to be doing a lot of the manufacturing, that's where people work.
Stephen K. Bannon (Host)
Don't go Elon Musk on me.
Stephen K. Bannon
I can't stop robots from doing stuff. It's just happening. Yeah, but let's, first of all, let's do the trade, trade thing here. If all goes well at The Supreme Court, this country will rule the world.
Stephen K. Bannon (Host)
What do you mean by that?
Stephen K. Bannon
There's a definitive case on whether or not the Trump defensive reciprocal tariffs can be imposed in times of national emergency. And I had a piece this week in the Federalist on, and we put it up.
Stephen K. Bannon (Host)
It was amazing. But why, if, let's say the court supports your theory and the President's theory of the case, why is that going to make us a manufacturing superchip?
Stephen K. Bannon
What that allows us to do is first of all, defend our manufacturing base. Because the problem we've always had, Steve, is that countries around the world, it's not just China, it's South Korea, it's Japan, it's Thailand and India, they all cheat us and they gain an unfair competitive advantage, which in a zero sum game naturally ships our jobs offshore in our factories. Okay. That's been going on since China joined the WTO in 2001. So first of all, you have to defend the perimeter. And then second of all, because the tariff will be up and make it a level playing field, it's going to attract foreign investment to come here because that's the only way they can avoid the tariff. So a combination of domestic and foreign investment will in turn increase jobs and productivity. And productivity is the key to rising wages. That's the formula. It's pretty standard stuff going back to Alexander Hamilton. Literally going back to Alexander Hamilton, the American system. Yes. He had a famous treatise about manufacturers.
Stephen K. Bannon (Host)
Reports on manufacturers, which is as important as the Declaration of Independence.
Stephen K. Bannon
Yes, yes, yes. And what we're suffering from now, and this is again why folks have to be patient with us, we had a printout again where manufacturing jobs are going down, not up today in the jobs report. But the problem is that you don't get the manufacturing jobs until the facilities are built.
Stephen K. Bannon (Host)
You get the construction jobs, you get.
Stephen K. Bannon
The construction jobs, but you don't get the manufacturing jobs. And so that's not showing up in the data yet, but the construction jobs are. And so we're going to be in a very, very good place if the Supreme Court upholds us on the law. And I've argued now in two different pieces that we're really good on the law. Okay? They can do that if they want.
Stephen K. Bannon (Host)
The briefings were amazing. And even people. We had the Washington Post reporter, I think lynch in here, David lynch, who was a globalist, who said he was not a fan of this and not a fan of yours until he read the briefings. He actually said, I think they got an even shot to win this. Now the oral arguments were different, but let's leave that.
Stephen K. Bannon
No, they actually, they weren't. I did the deep dive on that. And that's the basis of the Federalist piece. I mean, I think you have to understand that. That it's the role of the judges to go after. Yeah, the government, definitely. Right. And. And the plaintiffs. And they did a good job doing both. But you could tell what. What the basis, the perimeters of the argument were. And I think at the end of the day, it was very favorable.
Stephen K. Bannon (Host)
Let's say. Let's say it goes against us. What happens if it goes against us or you don't want to spend.
Stephen K. Bannon
We have plan B, but this is not the time where we're going to put that out. Now, the second part of this is the big beautiful bill.
Stephen K. Bannon (Host)
Hang on for a second before we leave that. You said if the American people are patient with us, we are an impatient people. Dr. Navarro, you know that more than any, because you're the most impatient guy. I know.
Stephen K. Bannon
My problem in terms of messaging that I'm. That I'm going out regularly now and trying to solve is to explain to people exactly where we're at. Remember, the predicate here is for people to understand how we got here. You can't forget that it was build back better from Biden. It was the Green New Deal. It was the open borders. It was everything they did, Steve. And it was the Federal Reserve bad policy. And we are everything we do, Steve. And this goes back to me being on the stump in 2016 during the campaign and you running the greatest campaign in American history. Everything we do is deflationary in a positive sense. Pro growth deflationary. That's the sweet spot.
Stephen K. Bannon (Host)
Give me a big beautiful bill.
Stephen K. Bannon
Big beautiful bill. Look, the messaging on this has been difficult because the American people have not, let's be honest, American people have not embraced it for the beauty that it is. And it is beautiful. If you think about what it's gonna do, I mean, think about 100% expenses.
Stephen K. Bannon (Host)
They haven't embraced it because it hasn't been explained.
Stephen K. Bannon
Exactly. So let me try.
Stephen K. Bannon (Host)
It's the last shot to do something that's focused on capital coming back for rebuild our manufacturing base.
Stephen K. Bannon
Capital, domestic capital in particular. Okay. Because I mean, just think about it. 100% expensing for investment in manufacturing capacity. 100% expense.
Stephen K. Bannon (Host)
One time, good deal.
Stephen K. Bannon
One time, good deal. I mean, that's like in and of itself is just a beautiful thing. And then if you look at the no tax on tips, no tax on overtime, that's putting thousands of dollars every year in a family's pocket.
Stephen K. Bannon (Host)
Billions in people's pockets, particularly starting next April.
Stephen K. Bannon
I'm talking about individual families, okay? Which is where I like to think, you know, family and 40, 50,000. It's like, that's a lot of money when you get those kinds of.
Stephen K. Bannon (Host)
The President's so enamored with your, with your. The way you guys have structured the tariffs is that he wants to cut a $2,000 check to each. Now, there may be some structural issues about that, but as far as the External Revenue Service he's letting. He wants to make citizens. He wants to make citizens a revenue sharing deal.
Stephen K. Bannon
Look, we're being attacked on this fake affordability word. When we invented this word, okay? Because here's another stat for you. I know you'll steal this from me in the next show without footnote me. If you look at real wages, Steve, they went up 8% during Trump land Biden, they went down 3%. That's an 11% swing, okay? That's real money, Steve. Okay? That is real purchasing power. And we will do that again with certainty. Because everything we do is designed to drive.
Stephen K. Bannon (Host)
I mean not just wages, higher wages.
Stephen K. Bannon
Look, we had the mantra. You know what the mantra was like cut taxes to cut the regulatory red tape. Strategic energy dominance and fair trade. Every single one of those raises wages in real terms.
Stephen K. Bannon (Host)
And particularly because.
Stephen K. Bannon
Because it not only boosts our manufacturing base, it basically deflation.
Stephen K. Bannon (Host)
Can I make a strong recommendation, please, sir, you and the Secretary of Treasury and maybe hasset those three, the three amigos should be hammering this every second of every day.
Stephen K. Bannon
That's all.
Stephen K. Bannon (Host)
It's a smart bet.
Stephen K. Bannon
Yeah.
Stephen K. Bannon (Host)
The bet is going to take some time, but you're tracking that, it's working and we got to hammer it. I want to pivot. I want to pivot.
Stephen K. Bannon
Let me tell you what, just the hardest thing to get out that message every single day is the friggin news cycle.
Stephen K. Bannon (Host)
I know, but you got a prayer story.
Stephen K. Bannon
I understand. Go.
Stephen K. Bannon (Host)
Okay. The Vice President gave, had a town hall and had a sit down with Matt, the great Matt Bull of Breitbart today and said in that, that, hey, he says, listen, winning the midterms is so important because if we don't, the way these radical Democrats and you saw last night, they're trying to intrude in President Trump's as Commander in Chief. Outrageous. And President Trump said today it's seditious behavior. We did the whole first part of the show with Mike Davis in studio to talk about that. But the vice president said people who are just doing their jobs today will be targeted to go to prison. What I said at the CPI speech. And they use the example now all the time. Comer does Of Navarro and Bannon. This is why your book is so important. Right? I want people to get the book. You went to prison. Because they don't have to. But we're seeing this happen again, and we need people to start thinking in that mode.
Stephen K. Bannon
Well, let me correct the vice president, okay? Because what he should have said is if they win, everybody's going to prison. And Bannon and Navarro going to prison for the second time.
Stephen K. Bannon (Host)
Yeah.
Mike Lindell
Get it.
Stephen K. Bannon (Host)
Exactly.
Stephen K. Bannon
Just kidding, jd. But it is so serious.
Stephen K. Bannon (Host)
Let's play. Let's play the vice president.
Vice President
Blind us to the fact that we are up against a radical leftist movement that murdered my friend a couple of months ago. And that would throw many people in the Trump administration in prison not for doing anything illegal, but for not fighting. Following the far left's agenda. That is the real opponent here. A political movement in this country that has no animating principle, that has no agenda for the American people. Their sole obsession is to take down Donald Trump and anybody who helped Donald Trump govern. Focus on the enemy. Have our debates, but focus on the enemy so that we can win victories that matter for the American people. That's my message.
Stephen K. Bannon (Host)
That's literally ripped from the pages of your book.
Stephen K. Bannon
I went to prison so you won't have to. It is literally ripped and it's real. It's absolutely real.
Stephen K. Bannon (Host)
JD's not a guy that has a hair on fire. He's pretty straightforward. Right. So when he's saying this to Boyle, that's sending huge messes that we need to worry about this.
Stephen K. Bannon
And there's two things to stop this. One is to make sure we don't lose the house. And we have to have that conversation, Steve. The other is where one of us or both of us to win our cases so that we get a set of laws that will make it harder for them to do. It's very frustrating to me, Steve, that we're 10 months in and we still haven't held the people accountable who went after me and you and Scavino and Miller and Julian. We haven't held them accountable.
Stephen K. Bannon (Host)
There's a grand jury.
Stephen K. Bannon
Pisses me off.
Stephen K. Bannon (Host)
I know. You get a bounce. There's a grand jury that's looking at the shift situation with Ed Martin, who's the one, the best of the best federal grand jury and a criminal thing on Ed Martin. I know you get a bounce. Social media, where do people go? We're going to do this again.
Stephen K. Bannon
Best thing to do is go to peternavaro.com peternavaro.com the website has the gateway to everything, including I went to prison so you won't have to.
Stephen K. Bannon (Host)
One more time where they get the.
Stephen K. Bannon
Book peternavaro.com just go right there and you can get it on Amazon. Do me a look, do yourself a favor, get that book. Give it out as a gift to for Christmas.
Stephen K. Bannon (Host)
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Caller/Listener 1
Looking on the CDC website for information on vaccines and autism, you're going to see something that experts say is dangerous. In an update made Wednesday, the website still says that vaccines do not cause autism. But right above it, there is I guess a disclaimer that that claim is not evidence based.
News Anchor
Wow.
Caller/Listener 1
What do you make of this?
Caller/Listener 2
Well, it's why I resigned. So I think that what we're seeing is CDC weaponized CDC being a wolf in sheep's clothing that is now promoting conspiratorial theories that have been debunked now for decades and making it CDC's, you know, in effect, party line. So I'm seeing what a chaos agent, which is RFK Jr. Can do to the health of kids. And that is going to be extremely bad.
Caller/Listener 1
A lot of that is just this, the semantics of it. It's not evidence based. On what are they, what are they trying to say? That the link between vaccines and autism is not evidence based?
Caller/Listener 2
Yeah, they're just trying to create confusion. So we know. I think what we know is that vaccines do not cause autism. So that is what everyone in America should know. Vaccines do not cause autism.
Caller/Listener 1
That is the evidence we have, and that's what it says.
Caller/Listener 2
That is the evidence we have, and that is what it says. So the rest of it is just trying to create chaos and confusion and frankly, to speak, things that the secretary has wanted to do for 20, 30 years into being without having to even define proof. There's nothing in that document that's new. They are quoting parts of studies, cherry picking parts, miscategorizing them and distorting them to create confusion so people don't know what to do. So take his advice and don't listen to him. He says do not listen to his medical advice. I agree with that. Talk to your pediatrician.
Caller/Listener 1
Speak to us about the many reports.
News Anchor
That rfkj, you are being undermined from within.
Caller/Listener 3
So I was forwarded from one of the good career employees and just so everyone knows, you know, the fda, when Marty Makary, who's a hero, came in, he's amazing. You know, for a couple months he had just around 10 political appointees. Those are people he was actually able to choose. Jay Bhattacharya at the, the NIH had one. So every employee in government is these deep staters. They've been there for a long time. And I got, I got an email from one of the good ones and they're sending around a CIA manual called how to Be a Bad Bureaucrat and Subvert an Institution from Within. And they said that 90% of employees at HHS, which had 70,000 employees, are working and talking in the lunchroom about this manual and telling each other that their job is to save America and save science from the agenda of President Trump and rfk. That is how people think throughout, I think, every major department.
Caller/Listener 1
How do we get rid of them?
News Anchor
Yes, right.
Caller/Listener 3
This is where, this is where the PSYOP comes in. This CDC has been. Can you think of a better case study of failure? Can you think of a better public health disaster than the COVID response where the CDC accidentally, in their guidance on school lockdowns, copy and pasted directly from the teacher union document who they were in bed with. They copy and pasted the paragraphs from the teachers union saying that we should shut schools down for two years. They said that cloth masks were fine.
Tony Lyons
Right.
Caller/Listener 3
They led.
News Anchor
They also funded the whole pandemic, not.
Caller/Listener 3
To mention with the NIH funding, literally the creation of the pandemic with the gain of function research. I mean, you could not have a bigger, bigger example of failure. RFK correctly fires three employees. And it is national news.
Stephen K. Bannon (Host)
Okay. I've asked Tony Lyons to join us. I want all of our audience to understand and particularly the make America healthy again wings of our movement. You're at war right now. And that war's, I think, I would say the opening battle for control is the cdc. Tony Lyons joins us. So right there you're former. They're calling Bobby Kennedy and the folks around him agents of chaos. And then later you have Casey talking about, talking about how the CIA, they got a CIA manual spreading around the administrative state, part of it, the deep state, reaching out to the administrative state to shut down Bobby Kennedy first. Talk to me about that first clip and what's happening at cdc, why this is such a historic day about is more than just a website, what's being said there and why they are. They've sent the opening flare out that, hey, you guys are agents of chaos, sir.
Tony Lyons
Yeah. So you know, the CDC website has been the place where you go to get pharmaceutical company talking points. Science is complicated. Anything should be on the table. We have the sickest kids in the world. We failed. The people who have been in charge failed their way to the top. They failed the American public. People voted for change. They voted to question the status quo. We don't want to hear talking points anymore. We want to see real science, real research. So that's what's happening now. And you're seeing it, you know, with these bold, decisive actions coming from our government. And we should all be proud of that because we've had this period of time, this generation, where the information we got wasn't real science. It was, like I said, corporate talking points from big pharma, big food, big Ag, while we got poisoned. And that ends now.
Stephen K. Bannon (Host)
Now. So what is on the CDC website? What has changed over the last 12 hours or going on 24 hours, sir.
Tony Lyons
Yeah, so what? So there was a statement on the CDC website that said vaccines don't cause autism, and now it has an Asterisk next to it, and it says we don't really know whether vaccines cause autism. And there are a lot of studies out there showing that it does, that it's connected, that it's the primary driving force for autism. So, you know, that's an incredible change because it puts it on the table that parents can think about it, they can look at the vaccine schedule, they can do their own research, and maybe they can make better decisions for their children. Once again, we have incredibly sick children. These people have failed us, and it's okay to question them.
Stephen K. Bannon (Host)
So the other day you talked to me and you talked to me about. And you can see already the pushback. You guys are agents of chaos. This is what's happening. The mainstream media is going to be every day, it's going to be on there, brought to you by Pfizer. But there's something actually darker going on right above the. Much below the surface of where this battle is being fought. Talk to me, Megyn Kelly. Who is the individual? What is his position, and what in the hell is he talking about when he says there's a CIA field manual out there that they've put out there about how you take down bureaucracies supposedly in other countries, but it's now circulating among the workers over or the administrative part of the HHS staff to take down Bobby Kennedy and President Trump's selected political appointees over there? Sir.
Tony Lyons
Yes. So what you have is, is a bunch of these companies that have been making billions and billions of dollars each year at the expense of our children. So we are now seeing a group of people who are fighting that, who want to protect the American public, who want to protect all of our children. And these companies are not just going to take it laying down. So they have a playbook. And so to really think this through, you have to recognize that there's a playbook, that when you hear that all the people in Bobby Kennedy's orbit are, you know, gatekeeping him, that they're stopping him from succeeding, when you hear that he's dangerous, that he's a threat to public health, you should question that. You should question every one of these narratives. When you hear that there's infighting in the Maha movement, they have their fingerprints on that, too. They will amplify people to make it look like there's more disagreement than there really is. Disagreement is fundamental to the Maha movement. We want disagreement. What we've had is this period of time where you could not disagree, where there was one truth, one point of view, and you were Supposed to just accept that even though our children got sicker and sicker. So we want disagreement. We want as many different voices. That's the strength of the Maha movement, that people disagree, that people have dialogue, debate, that people argue. And that's what's happening now. And that's a good thing. So, you know, the person in that video was, excuse me, was Kelly Means. And, you know, he was pointing out that one of the tools in their playbook is to pass out this CIA sabotage manual telling people what they should do, they should stall, you know, they should make it look like it's harder to get things done than they possibly, you know, than they could be, that they should use every tactic they can think of to make sure things don't get done. And what they say is that they're trying to protect children. But if you're trying to protect children, you would want to question the status quo, because the status quo hasn't worked. So, you know, that's what's going on.
Stephen K. Bannon (Host)
How serious is this? How serious should we take it? It sounds almost crazy that there would be a manual. Well, it's not crazy. The CIA would put out manuals on how they do, how they do their work, the cloak and dagger, and they would put out manuals about how to take down a bureaucracy from the inside as part of a color revolution. But how insane is it that that document from the CIA is actually spreading around inside of HHS today? And then employees, the example there, Casey used that they're actually talking about it in the cafeteria, in the lunchrooms.
Tony Lyons
Sir, I think you should take these things really seriously. That the health of our children, you know, that the future of our country is at stake. And these companies and the people who they're connected to are willing to do anything to make sure that this movement doesn't succeed. So, you know, this playbook includes every tool that they can come up with. So, you know, once again, when you see people in the Maha movement going on to X disagreeing with something Bobby Kennedy said, that's a good thing. That's not something we should be scared of. We should be scared of a system where people don't disagree because things have been going so badly. That disagreement is great. That's what we should hope for. That there's. That everybody comes to the table and that we figure out better ways to do things, and that's what's happening now. So every time you see a hit piece, every time you hear a story about people in Bobby Kennedy's orbit who are, you know, stymieing the things that he's trying to get done. All of these different narratives, you should recognize that these are people trying to just squash this movement that is doing so well, that is taking this bold, decisive action day after day, really fighting for change, not for money, not for power, not for anything other than to make this country healthy, because we are the sickest country on earth and we spend three times the money. And there's something really deeply corrupt going on here. And everything you see from all sides, it's all part of this playbook, part of this scam to lie to you, to censor you, to keep you down so that you can't get good information and make better decisions for your family.
Stephen K. Bannon (Host)
Tony, where do people get you on social media? How do they get to the. To the MAHA group that you run? And how they get over to Skyhorse Press, because you've got the best publisher in the business.
Tony Lyons
Hey, thanks so much. Yeah, for me, it's. Tony Lyons is uncertain at Instagram, you know, which ties in with what I'm saying. People should disagree. They should question everything, Question everything that their politicians tell them, everything that they believe. They should write down the things that they believe and question them. What you're seeing on the screen is skyhorsepublishing.com and for Maha, you should go to mahaaction.com.
Stephen K. Bannon (Host)
Tony Lyons, thank you for joining us this afternoon. Appreciate you.
Tony Lyons
Yeah, thanks.
Stephen K. Bannon (Host)
I'm going to talk about AI after the break, but I got to tell you, I don't think I've ever seen a wilder day or this is one of the wildest days I've ever seen on NASDAQ and the New York Stock Exchange markets. It started with a massive announcement yesterday, I guess, of Nvidia, a backlog, I think, of a half a trillion dollars of chips. It's one of the reasons we say, why has Nvidia even got the opportunity to sell chips to the Chinese? The Stock went up 5%, which on a company's already got a market cap of $5 trillion. Hey, that's a lot of market cap. The Stock finished down 3% for the day. That is a reversal of fortune. That is extraordinary. Particularly something in the market cap that big Nasdaq where the tech stocks are down 2%. They're talking about, is this an AI bubble? We don't know, but we got issues with AI we have to deal with now. Check out Birch Gold, Physical Gold. Take your phone at text Bannon B A N N O N at 989-898 to get the ultimate guide for investing in gold and precious metals in the age of Trump. 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 tr. 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 and 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 bannon or call 972 Patriot and make the switch today.
Stephen K. Bannon
Here's your host, Stephen K. Bannon.
Stephen K. Bannon (Host)
The reversals are so big today. That's why I want everybody. You're going to go through times of financial turbulence. Of course markets are near all time highs but now you're starting to see them hit an air pocket. It's a question of artificial intelligence. I think part of it's the question of how this thing's financed going forward, of what the real profitability is going to be. I think someone can, you can actually back into that. You could. They're looking at 8%, I don't know, profit margin. I've seen that analysis before. Seems like an awful lot of work to get to 8%. But it's a lot of questions about the business models, about the financing models, about how much American taxpayers are going to be on the hook for this, about how much the American taxpayers are actually going to own of it. Because this has to be a whole of society approach. This is one of the reasons. Go to article3project.com right now or Bill Blaster. Grace will be more than, more than happy to show you how it works. And you know, you contact her. Everybody in the chat should be pushing this out force multiplier. We need people to contact their representatives today, tonight and let them know no AI amnesty. You cannot slip a one or two page, you know, bill in here in the middle of the NDA. Remember that? That's the National Defense Authorization act that authorizes the Department of War and all the military services to get funding. It's a must pass bill. That's where they're doing it. Just like the big beautiful bill. They always try to slip these things in here where they don't want to discuss them. Now the tides of fortune are reversing on them because of your pressure. But make sure you do it today. And also go to birchgold.com get access to Philip Patrick and his team. That's who you need to talk about. About the stability that the ownership of physical gold can give you in times of financial turbulence. It ain't the price of gold, it is the process that drives the value of gold. Make sure you learn that and you've learned something. Make decisions on your own. Birchgold.com promo code Bannon talk to Philip Patrick and the team. Get access to them plus all the free information. End of the dollar empire. The ultimate guide for investing in gold and silver. They've had amazing, amazing information and a great team. So just go check them out today over at the National Cathedral. Today the Deep State had a Covid meeting. Oh yeah, there's a funeral there too. Dick Cheney who brought on the disaster. Many disasters, 9, 11 happened on his watch. Yes it did on his watch. Then Iraq and Afghan war. And the Iraq war, Afghan war finished terribly because we tried to make it a nation building and a democracy movement when it was just to go get the bad guys which with paramilitary forces and some U.S. army elements. We did a pretty good job at the beginning, but stayed 20 years. Iraq a total complete disaster and based and predicated upon a bald faced lie. There were no weapons of mass destruction and there was really no program for weapons of mass destruction. And they knew that and they sold it as a lie because they're neocons. But today you had Fauci, Rachel Matta, I mean the pictures are coming out of there. It was a Deep State Covid meeting and it's pretty extraordinary. I'll have more to say about that later. But make sure you go to Article 3 Project or you go to Bill Blaster. Get all the information you need and today get up on the ramparts and make contact with someone. Your action has big consequences. We saw this in Texas, we've seen this in Texas on the redistricting. And now the Muslim Brotherhood and Care both being designated as terrorist organizations. They're Going to, you know, now they're going to start filing suits. It's fine. The fight is engaged down there. I want to thank Glenn Story and the team at Patriot Mobile. This is an extraordinary company that has your back and you see the manifestation of that every day. Oh, by the way, it happens to be the finest of all the mobile services. So you're not going to give up any quality. In fact, it's going to increase the quality of the bang for your buck. 972 Patriot. Call them right now. You will talk to somebody in east Texas, got an East Texas accent, would be an American citizen that will answer your questions about all the services, all the upgrades, all of it. 972 Patriot. Do it today. Mike Lindell. We've had. Now we got one of the judges on the redistricting is all over. Mark Elias. Mark Elias. That demon. He's. He's getting money from.
Stephen K. Bannon
Sorry.
Stephen K. Bannon (Host)
He's getting money from everybody to go sue everybody to make sure that he's one of the big drivers of the big steal of 2020. What say you?
Mike Lindell
Absolutely. Yeah, absolutely. This is great that you know, we have so many good things going on. Everybody like in Texas with all these counties going to paper ballots hand counted. Even Dallas County, a huge county in these primaries coming up. That's five counties in Texas. And it all goes back like you say, Steve, to the 2020 stolen election. We've learned so much from that and it's all coming out right now. But in the meantime, you guys, my pillows made it through even with Arctic Frost, the Operation Arctic Frost attacking my pillow at every turn. What we do to fight back, we give you the more room. The War Room Posse. The best specials in history. These are the early Black Friday specials. These are the slippers that we're on sale for 59.98. Normally 149.98. Best slippers in history, 39.98. We took another $20 off for the War Room Posse. You get a free spray, leather spray with it and free shipping no matter what you ordered today. The War Room promo code you guys get free shipping on no matter how big your small your order is. We also have the blankets that came in last week, all of our blankets, five different styles, as low as $25. Pro blankets. We have waffle blankets, flush blankets, all these Gosmere blankets, all these different blankets. And we have down comforters. We have. And by the way, the Giza dream sheets. Everybody you've been waiting for, they all came in all the colors inside this Came in yesterday. So get Those, go to warmypillow.com forward/war room. And you're gonna see the Black Friday specials. One of your favorites that you guys have been Getting is the five pillows, the Bible pillows. Five of them for 29.98. That's $6 a Christmas gift, free shipping on your entire order with that promo code, war room. And I want to tell you too, if you call 800-887-31062, you're going to get a USA operator, my employees that love the war room policy and they can't wait to give you free shipping and get all your Christmas shopping done with these early Black Friday special promo code, War room.
Stephen K. Bannon (Host)
The most powerful promo code in the business. MyPillow.com promo code, war room. Mike Lindell. Let's everybody get over there, get your shopping done. You'll be with us tomorrow morning between 10 and noon. Thank you, Mike.
Stephen K. Bannon
Appreciate you.
Stephen K. Bannon (Host)
You're 100, right? By the way, people in Texas are on me all the time. You've got to have closed primaries.
Stephen K. Bannon
How's that?
Stephen K. Bannon (Host)
I'm gonna have some people on talk about that. What did Tony Lyons said? The engine room is all over me. I think he said 70,000. I think there's actually 62,000 at HHS. That would be what, five? That would be 12 carriers. 12 carriers.
Mike Lindell
Wow.
Stephen K. Bannon (Host)
Unbelievable. Maybe 11 carrier battle groups. Incredible. Stick around. The six o' clock hour is upon us in the war room. We're gonna take it out with one of my favorites. Great stuff. Back in the warm, in the moment. 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 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.
"Setting The Facts Straight On The Economy; Failure Of The American Health System"
Date: November 21, 2025
Host: Stephen K. Bannon (WarRoom.org)
Notable Guests: Dr. Peter Navarro, Mark Elias, Tony Lyons, Mike Lindell
This episode tackles two headline topics:
Setting the Facts Straight on the Economy:
Stephen K. Bannon and Dr. Peter Navarro (White House economic advisor) detail the Trump administration’s economic strategy in its second term—including inflation, the labor market, manufacturing jobs, and key trade/tax policy battles.
Failure of the American Health System:
The conversation shifts to the CDC, controversies around vaccines and autism, and alleged deep-state resistance inside public health agencies, with commentary from Tony Lyons and callers focused on CDC guidance changes and internal sabotage.
Throughout, the tone is combative, urgent, and characteristically populist, pushing back against media narratives and government bureaucracy.
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This episode blends Trump administration economic defense, anti-globalization themes, and warnings about "deep-state" sabotage in both economic and public health sectors. The hosts urge patience with slow-paced policy results and frame their work as a populist crusade threatened by internal resistance, the administrative state, and media disinformation.
For listeners: The episode offers a granular look at how Bannon’s circle is framing both economic pains and government dysfunction, urging their audience to challenge official narratives and push political action.