
Episode 5287: The War Is Crippling The Dollar System; Muslim Invasion Heads To Tennessee ...
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Eric Bolling
So that whatever dollars they were holding are becoming less and less and then they had to replace it with something. What's going to be the replacement? Not sure yet. But gold will be the great place to put it. It's a store or a value, a major store of value for 250 plus years or longer, maybe a thousand years. But the US dollar has done nothing but decline for the last hundred years, elevated during any sort of inflationary periods. And this, taking the US dollar as the, the reserve currency for global trade will just put a nail in the coffin of the US dollar. It'll tank and everything we have here in the United States will become more expensive. There are those who might like it. Big fat cat real estate owners may like that because the same house becomes worth more, but your rent's going to go up too. To rent that house if you're not the owner of it, it's a bad, bad, horrible situation. You economically, for the us the interesting thing is this.
Stephen K. Bannon
This is happening during a time when you see that classic flight to safety that the US dollar has already always had. Anyway, Eric, we'll have a lot to talk about tomorrow. Sure. There's going to be a lot of action in the markets overnight as people work their way through this. Ceasefire is going to hold. Is it not going to hold? What is the. What are the markets?
Philip Patrick
Tell us.
Eric Bolling
This afternoon we went up against the
Stephen K. Bannon
ceasefire is going to hold or earlier
Eric Bolling
when we spoke it was 103. Then it came crashing down four or five dollars a barrel when Bibi said he would meet with Lebanon. And it's working its way back up. We're right at a hundred dollars a barrel again. Somehow it just is resilient because these oil guys, they see, they see the future. They're very nervous about oil higher, so they're buying in anticipation of higher prices. Unfortunately.
Stephen K. Bannon
Eric, where do people get you on social media? Right here, bowling.
Eric Bolling
But also doing something. We'll do all that later because this is more important. I don't want to sell stuff right now, Steve. I want to be with you and talk to the people about what's really happening because again, we're talking about stuff that's happening in the future. And a lot of the stuff we talked about 40 days ago, 20 days ago, 10 days ago, are happening now. Let's talk about what's happening in the future. That's where you get it. You can watch Fox, you can watch, you know, puppies and rainbows and what happened yesterday. But watch Ban and Worm, watch Rev, watch bowling. You find out what's happening next. I'm not kidding, am I?
Stephen K. Bannon
The closest thing we have to a puppy is Eric Bolling. Thank you, sir. I appreciate you. See you. Morning, sir. Thank you, Eric. We're into a cold open. We've got a lot of stuff breaking this afternoon. We're going to do a cold open and then Philip Patrick's going to join us. But the show's absolutely packed, so let's go ahead and let it rip.
Rosemary Jenks
Today there is major movement to bolster the fragile two week ceasefire between the US And Iran. After Israeli strikes reportedly killed hundreds in Lebanon on Wednesday and put the truce in limbo. President Trump said in an interview with NBC that he asked Israeli Prime Minister Benjamin Netanyahu to be more low key on Lebanon. But moments ago, here was Netanyahu.
Stephen K. Bannon
I want to tell you there is no ceasefire in Lebanon. We are continuing to strike Hezbollah with force and we will not stop until we restore your security.
Terry Schilling
Following repeated requests from the Lebanese government
Stephen K. Bannon
to open peace negotiations with us, we
Terry Schilling
One, the disarmament of Hezbollah and the
Stephen K. Bannon
second, a historic sustainable peace agreement between Israel and Lebanon.
Rosemary Jenks
It just seems like Israel doesn't care about this cease fire.
Stephen K. Bannon
They're going to continue to pummel Lebanon
Rosemary Jenks
even if it jeopardizes the relative peace that has been established to prepare for these upcoming talks. Explain that dynamic. Why Israel so focused on Hezbollah that it's willing to put so much on the line?
Michael Weiss
I think the one unmitigated success in the minds of the Israeli security leadership, and particularly Mossad, was disemboweling Hezbollah after the October 7 military campaigns, of which I think this war in Iran is sort of the culmination. We all remember the famous pager gate, the dropping of an enormous bomb on a complex housing Secretary General of Hezbollah, Hassan Nasrallah, the utter decimation of their leadership. Israel had spent two decades since the Second Lebanon War basically mapping the terrain, figuring out everything about Hezbollah because they anticipated this was going to be the next regional conflict. Right. So for them, I think this is they want to deliver the coup de grace. Now, it's true that reporting suggests not only was Israel down on the idea of a ceasefire with Iran, but they insisted that Lebanon not be on the table in these negotiations. You just played a segment of JD Vance coming out of Hungary saying the Iranians got it wrong. We never said Lebanon. So that I think will offer incentive, if not carte blanche to the Israelis to, to escalate. Indeed. I mean, just after the cease fire was announced, within hours, it was the biggest single Biggest day of escalation on the Israeli side against Hezbollah. Now, the danger here, if you talk to Lebanese, and I have a lot of friends who live in Beirut, quite a lot of Lebanese were happy to see Hezbollah, you know, eviscerate it because they saw that Hezbollah was a, an actual deep state. They had control of the country. They were dragging the nation to war.
Rosemary Jenks
But Hezbollah have so much control because that's. It's a separate entity than the Lebanese government.
Michael Weiss
This was the kind of crowning achievement of the IRGC power projection project. The late General Qasem Soleimani kind of constructed this apparatus. Hezbollah is not just a terrorist organization. It is a paramilitary. They have administrative services. They are a political party. But if ever the term deep state should apply, it ought to apply to this organization. They control the airport, they control the security apparatus. They had penetrated the Lebanese armed forces. You name it, there was a finger in whatever pie in Lebanon. So Lebanese who were joyful to see Hezbollah finally kind of extirpated from all of these apparatuses now are beginning to get very upset and nervous because this is affecting the civilian population. Right. And the one thing you don't want to do is alienate people on the ground who might be amenable to seeing, you know, sort of emancipation from this terrorist.
Stephen K. Bannon
Right.
Rosemary Jenks
And reports
Stephen K. Bannon
that is Michael Weiss. And I think that one of the reasons we do cuts and he's on more and more is that he's got a way of explaining things right there. He cuts to the chase about Hezbollah. As much as I've had a problem with this war continuing, expanded, being in Lebanon, there is some justification for the simple reason they're just not a terrorist organization. They are a paramilitary. At one time, I think you are the best light infantry, maybe outside of IDF, in the entire Middle East. So that whole situation. Now you heard Bolling when it was announced earlier that the Netanyahu government was prepared to begin discussions, oil dropped again. Now, as people are thinking about it, that's where this truce is very fragile. And the president and his team are trying to work through this and grind through this. Philip Patrick joins us. Philip, you have been on here for a while warning about this, but it's always nice to get an outside validation, particularly from a group as respectable as Bloomberg. Now, Bloomberg is. Michael, Bloomberg owns it. But when we talk Bloomberg, we're really talking about the information that goes to the terminal. When we say the terminal, that's to every essential bond trader in the world. Yes, equity people have it too, also, but it's principally Bloomberg came out of the bond department. He was a bond trader at Salomon Brothers back in the 1980s when they were known as Masters of the Universe. If you ever saw the read the book Bonfire, the Vanities or saw the movie with Tom Hanks back in the 1980s, the masters of the Universe were then considered the bond department of Solomon. I was Goldman Sachs and that was more M and A and equities. But Solomon kind of controlled corporate America through the bond market. So Bloomberg came with this idea to put breaking information, important information right on a terminal that a bond trader wouldn't have to read the newspaper or go anywhere. And so today, Philip, I want you to take a moment and walk through this. A very important story came out from Bloomberg and guess what? It's about the US dollar and how this entire situation in the Middle east and particularly as the center of gravity of this war have shifted to the Persian Gulf and the Strait of Hormuz, that this is going to have a major impact on the dollar going forward. I just read the opening paragraph, Philip, about gold reserves, all of it. But when you read this, you sit there, the war room audience, maybe people that are on bond desk or read the Wall Street Journal, the Financial Times of London, maybe they're sitting there going, this is interesting. I hadn't thought about this. The Warren Posse would not be part of that group because you have preached this for a while. But we were validated today by Bloomberg. Walk us through what this piece tells us and why is it important?
Philip Patrick
Look, as you rightly point out, it was referencing things we've been talking about on the war room since 2022, and that is that broadly the rules of the global financial system have changed. And the Iran conflict, of course, is just another milestone in the longer term decline of dollar Domina really began under President Biden. Now what's really changed? We've talked a lot about weaponization and we're seeing it now. Weaponization of the entire financial system. And it's not just one thing, Right? Seizing Russia's assets and reserves was certainly the catalyst. But now we have tariffs, we have financial sanctions, and now we have conflict spillover. Right? Iran's declaration that any institution that owns US debt is now a legitimate war target was very telling.
Stephen K. Bannon
Right.
Philip Patrick
And it shows us that the Iranians are pretty smart. They understand our Achilles heel and they're trying to exert pressure from the inside. But look, I don't think this is necessarily a story of collapse. Right? The dollar doesn't fall overnight. But what it does instead is it erodes milestone by milestone. We saw it exactly the same thing with the British pound, right? We saw the economic damage of World War I, the Great Depression, Bretton woods, the Suez crisis, all steps down the path to the same destination. Not necessarily an apocalypse, but death by a thousand cuts. And it's exactly what we're seeing in the current climate. Now, what I don't want to do is come on here and give a history lesson, but I want to describe a precedent, right? It isn't just one thing. It's the cumulative damage of decisions made over years and, and decades. Dollar reserves have been trending down really since 2013, long before anybody was really talking about this. But today we can see it manifest in the numbers. Central banks used to buy dollars when the dollar fell, sell them into rallies, but today they're not. And that is a massive change in dynamics. And at the same time, we need this demand today more than any other time in history. Scott Besson is auctioning off 8.2 billion do debt every trading day this year. So demand matters today more than any other point in history. To sort of summarize, the global financial system has worked for years by treating US Government debt as if it's risk
Stephen K. Bannon
free, but it's only risk free while
Philip Patrick
global trust remains intact. And that's simply not the case anymore. And we're already starting to see how this is playing now in the real world.
Stephen K. Bannon
I want to say also I'm going to connect some dots here to what we've been talking about. When he says the weaponization, as you remember, we went crazy when, when the EU seized, not just, not just seized, but then we're going to monetize the Russian, the Russian people's assets, not simply the government, but, but really what the government held for the people of Russia. They were going to seize it, they were going to monetize it, and they were going to actually pay because they didn't have the money, as we kept telling you, they were going to pay for their Ukraine war defense with the Russians cash. And that was the first thing, I guess, in the Biden administration that went crazy. I have been an advocate of kind of that economic war here, and I realize that plays into this whole question of the weaponization because the power of what Scott Bessen did back in December and January to break, was it the real, the currency of Iran. This was the thing that forced the people out to the streets. They thought the government was going to come down. And I kept advocating, hey, you can bring these guys down without firing a Shot. You don't need this massive military buildup. Besant's showing you how you get a revolution going against a regime when that for whatever reason was called off. I've made a huge deal, Patrick, about the only way these guys, the mullahs, finance themselves. They got two ways. They monetize oil to essentially the Chinese Communist Party and now India. But really the ccp, they get cash. They're coming through Hormuz, past a couple of carrier battle groups, through the Malacca Straits to China. The other way is in, is in the, the Tortuga of the Persian Gulf, like the Caribbean pirates used to have in the British Empire. You've got Dubai. And this is why I say you can't trust any of these guys. Dubai has been the way they've laundered the money and all the assets of the Iranians aren't really sitting in Switzerland. Maybe some of the mullahs and the ayatollahs, but the way they fund the government is in UAE and Dubai. And I was the first to say, hey, if we're going to send young men and women in harm's way, seize those assets. Now that does play into this weaponization, where the rest of the world goes, well, hey, if the dollar denominated assets can be, can every time Trump wants to or government wants to, they can just grab it. That's much worse than the EU taking the Russians in, basically European banks that are in, you know, the, the kind of in, in EU denominated, you know, currency. And so this has led to this and now you've got these central banks shying away from dollar nominated assets and going right for gold. We're going to get into all of it. But this is a major impact and this is part of the financial war, the economic war that you have to decide, are you going to use the Swiss system, Are we going to start seizing assets? Are we going to blockade? Scott Besson, I think now is talking about doing what I've called for a long time, a quarantine or blockade in the Gulf of Oman. Just stop them all from coming out of Hormuz and don't let anything go forward. Short break, Philip Patrick on the other side, the dollar's convertibility into gold ended in 1971. Gold was fixed at $35 an ounce. Well, fast forward to today, and the US dollar has lost over 85% of its purchasing power. Gold, on the other hand, is increased in value by over 12,000%. That's why Central banks are buying gold at record levels. That's why major firms like Vanguard and Blackrock hold significant positions in gold. And that's why I encourage you to consider diversifying your savings with physical gold from Birch Gold Group. But it starts with education. Birch Gold just announced their Learn and Earn Precious Metals event. This free online event rewards you for learning the basics of investing in precious metals. Sign up to get a free silver on your next purchase. Get even larger incentives as you go. The more you learn, the more you can earn. But you must act now, as this special event only runs through April 30th. The dollar lost its anchor in 1971. You don't have to lose yours. Text my name, Bannon B A N N O N to the number 989-898 to join Birchgold's Learn and Earn Precious Metals eventually by April 30th. Text Bannon B A N N O N to 989-898 and do it today. Here's your host, Stephen K. Bannon. Okay, if the other conservative cable news channels are showing puppy dogs and you know, they want to talk about the their new egg omelets is because they don't want to spend time and talk about what this war is really about and, and how we're going to work our way through it as a country and as a political movement. Why did we start with end of the dollar Empire six years ago and talk about the history of this country and populism and fiat currency and the whole history of the populist movement and what it meant about, you know, the Jekyll island and the Federal Reserve and Federal Income Tax and all of it, and tie it together and talk about current times, because we knew this day was coming. But there's that the day that just like in the British Empire, in the British pound, enormous, enormous pressure would come on. The financial system set up and structured after World War II, particularly centered around a place in a system called Bretton woods, which was a financial system that put at the heart of it, the put at the heart of it the US Dollar as the new prime reserve currency to pick up from where the British pound could no longer, it could no longer rest on its shoulders. Their economy wasn't deep enough, Their capital markets weren't deep enough. And post World War II as the victor. And remember, we were the victor for one of the simple reasons that nowhere really in mainland the United States we were intact. Germany was shattered. Continental Europe was, much of it was shattered. Japan was basically driven back to virtually the Stone Age, same with mainland China. So there was massive, massive dislocation to the fact that we had to step up and write the check for something called the Marshall Plan to put the Europeans back on their feet. I think that's one of the reasons President Trump and others of our age group are so furious about NATO and why NATO stiffed us here in this crisis in the Middle East. But the dollar, our system is under assault. It's under assault. First, number one, the elites in this country have done a horrible job of mismanaging all of this. And you're going to see this this week as we talked about, Russ votes going to go testify to the House Budget Committee. And that is there's going to be a firestorm because of the 39 trillion in debt. And quite frankly, the Wharton School, which President Trump's a graduate of, says there's really $100 trillion of debt on the resting on the shoulders of the dollar. This war has only exacerbated the economic warfare and financial warfare around this war is also exacerbated. But nations of the world that don't have bad interests in mind with the United States are sitting there going, hey look, I got to think this thing through. Do I want to be that loaded with dollars or I want gold? But the enemies of the United States see a perfect opportunity, particularly the BRICS nations led by, wait for it, the Chinese Communist Party. And this is why I'm a big advocate. There's no need to go to Islamabad. That's just you're dealing with grundoons that can't deliver and can't execute a deal. Get you're going. You've got a state visit set up in mid May with the Chinese Communist Party and Xi and you'll be in the room principal to principal. And this has got to be one of the aspects of it. Philip Patrick, end of the dollar empire birchgold.com, promo code Bannon, you get it. We got the eighth free installment that we talk about the pressures on the dollar even before the war started. This is something we've worked on for the last five or six months. We a little update about the war. But the pressures that were already on the dollar as the prime reserve currency. And trust me, the two things that matter in your life every day you should check is the US Dollar and the ten year bond because that more those two instruments kind of are proxies for kind of capital markets and that is very important to you. Your credit card, your car loan, your home loan, your student loan, all of it. Philip Patrick, your thoughts, sir,
Philip Patrick
Apologies. I was saying absolutely these are High level concepts that we're talking about. It's you know, US government debt, it's debt service, it's borrowing rates increasing. But as you rightly point out, they sound like high level concept but they affect everything that we do from mortgage payments to home loans and absolutely everything. So this is going to be a very important topic moving forward. We're seeing the mainstream media now catching on, understanding there's a problem. And I think the more people sort of understand where the issues are coming from, the more that they can prepare for them. And that's what we were trying to achieve with the end of the Dollar Empire series is wasn't a suggestion that things are collapsing tomorrow, but more of a warning to people. We're heading down a very dangerous path and there are ways that people can protect themselves. Central banks today are turning to at higher levels than ever before in history. I mean the last four years were the four biggest years for gold buying in central bank history. Central banks have been buying gold for thousands of years. If that doesn't tell people there is a real problem on the horizon, I don't know what will. But that's why for us the end of the Dollar Empire reports the War room itself such an important vehicle to educate people. Because I think the more people learn and understand the user things will be
Stephen K. Bannon
listen and I understand that the War Room is not for everybody, it's just not. I've never produced this and never made this that it's going to be for a mass audience, it's just not. It's going to be for people that are self selective. Working class people, middle class people, maybe many people don't have college education. You don't need a college education. We'll give you an MBA if you watch this. And we're adamant about a big part of the broadcast is about capital markets because the world breaks down into money, power and let's be honest, faith, faith in our different faith systems play into this a lot. But if you don't understand the money, you don't understand the money part of it, the capital markets part of it. You can't understand the power part of it. It's absolutely essential. And for cable TV networks that don't do it, that's fine. They have a different audience and the audience doesn't want to push themselves. We raise the bar high. We understand this is a tough show to follow sometimes, but it has to be. Why does it have to be? Because we have to build a cadre of populist nationalists that really understand how the World works and what all this convergence of all these factors now we've had like sanctions. You know, I'm a big sanctions guy. I was adamant that we just stuck and really stuck. This is why it upsets me so much that our ally, quote unquote in the UAE in Dubai allowed the Iranians open secret that they used the banks to launder their money. It really hurts the sanctions. The sanctions are a big part of economic warfare. You want to bring the mullahs to their knees, go after their currency, go, go shut them down on sanctions, penalize everybody that deals with them. President Trump's the other day, not war room. President Trump said 50% tariff on anybody that sells them arms or ships them arms. That ought to be part of an interesting conversation in Beijing on the 15th because the Chinese Communist Party through various fronts are the biggest arms supplier for the Iranians. Okay, so this war, but that all blows back on people saying, hey, do I want that much dollar exposure? Because I either don't trust the Americans or I don't like the Americans or I don't like that the Americans have all this power. Philip Patrick, your thoughts, sir?
Philip Patrick
Look, I agree. And sanctions can be a very powerful weapon. As you mentioned, we saw Scott Bessant use them expertly and exert maximum pressure on the Iranians in December of 2025. The concern though is that once you use sanctions, people know it and they start to bypass. Look at the Iranians now looking to charge ships through the state of Hormuz in crypto, right? They're not looking to reform the system. They're going to go around it. It's exactly what we saw with Russia and it's exactly what we're seeing here play out. And I think the word that you use that is very important is trust. Right? And I think trust is largely why central banks around the world are quietly shifting into gold. Not because it is a hot trade, it certainly is in the current climate. But that's not what's driving central banks. It's because it's neutral, it's outside the debt based financial system and it doesn't carry political risk. By the way, global reserves of gold today have eclipsed now dollar reserves adjusted for valuation effects. It's a net net comparison. But that's the first time since the International Monetary Fund started publishing data 30 years ago. So this is a real problem. Yes, I'm a believer. Look, exerting economic pressure is going to be key, but we've got to do it in the right way.
Stephen K. Bannon
This is, this is it's. Why it's that tripwire is why Bloomberg wrote the piece today because gold reserves are more than dollar backed reserves. That is a significant marker. We have told you this day's coming right for a couple of years now and guess what? It came we have to know about the implications of it. And that's why you've got to get whether it's about your country, about you better as a populist nationalist in a political movement or if it's just about your community, your family or your own personal finance, this is something you have to understand. It ain't the price of gold. It's the pattern recognition of what drives the value of gold and why it's been a hedge for so many thousands of years. And it's quite, quite ironic that where civilization essentially we felt started right in the Tigris and the Euphrates back in this part of the Middle East. Now we're having this discussion in the 21st century as we have AI about to overwhelm us. We're back to really the beginning. I want to make sure everybody goes to Birchgold promo code Bannon end of the dollar empire A three and so on with the other seven are free. If you want to get the book, I'm proud to say we are out. The reason has been overwhelming demand but they'll be back in stock. Put your name down but get the latest edition. Read the first seven edition, first seven installments. You'll be smarter for it. You'll understand how the world works. We're not here to make you the smartest person in the stands at the little league are the smartest person at the backyard barbecue. We're here to make sure that you understand how the world works and that you can use that as you apply your human agency in every endeavor that you do. Philip Patrick also take your phone at text ban it's simpler ba in annoying 989-898 get the ultimate guide for investing in gold and precious metals in the age of Trump. Most importantly, you don't have to listen to me. You get to go to Philip Patrick and his team. I promise you if you do that Birch Gold you will connect with Philip Patrick at team. You can talk to some experts. Philip, thanks. I know it's tough on these days to break away but the Bloomberg article I thought was most important to get you on here today. So I want to thank you for it, sir.
Philip Patrick
Thank you, Steve. Thanks for having me.
Stephen K. Bannon
Philip Patrick, Grace and moan. Elizabeth will figure out how to get this Bloomberg story out. I want everybody to read this. Okay. Of course I keep saying the threat to the United States of America. The imminent threat to the United States of America ain't in downtown Tehran. It's not even buried under the rubble in Tehran. It's inside the wire in the United States of America. And I've got Julie Pickering, Michael Patrick Leahy out in Nashville and Terry Schilling. And they're going to join me and they're going to tell you exactly why after a short commercial break in the war room. Fellow patriots, the Federal Reserve has betrayed America for over a century. Printing fiat, inflating away your savings, serving globalist masters. But President Trump is ending it. President Trump is wielding a 112 year old law to reclaim control from the rogue Federal Reserve. He's replacing Jerome Powell. Slashing rates, igniting America's reindustrialization. Now this is not theory. Government backed industry plus low rates unleashes super cycles. History does repeat. Gold's already exploding. Miners are up over 400% in the last year. What Rickards is calling Trump's gift is wealth for American patriots, not global handouts. Now it's America's turn. Jim Rickards, former CIA and Pentagon veteran says act now. Go to insider2026.com that is insider2026.com to get Jim Rickards Strategic intelligence newsletter today. Strategic intelligence based upon predictive analytics. It's what chairman and CEO throughout the world read and you should too. Here's your host, Stephen K. Band. While we're talking about Texas and immigration, patriot mobile 972 patriot call today you're going to talk to their call center, somebody with an east Texas accent. It's going to walk you through all the benefits and why they're the best phone service in the world. Just remember you wouldn't be having this. We wouldn't be able to mount this defense in Texas. It was not for Glenn's story and Jenny's story who are two just extraordinary individuals. Individuals. This company is based on Christian values, supports the causes you think are important. And this also happens to be the best phone service out there. So call 972 Patriot and do that today. Make sure that you talk to the folks. They'll tell you about it and you get a free month if you tell them from the war room. Two other things. Number one, Medicare complicated. Getting more complicated articles out every day end the confusion. A Data company called Chapter is prepared at 845 War Room. This a free no obligation consultation. They will walk you through your plan. If you're not on a plan, they'll go through various alternatives. If you're on a plan, they'll break it down for you about how you can make it better. Eight four five War Room. The, the feedback we've gotten from the Warren posse is extraordinary. I think they've saved people on average 1100 bucks plus got them out of plans that are just ridiculous. That's chapter at 845-war- Room. Do it today. Rosemary Jenks. I just want to hit rewind for a moment and just go back. You say this is screw American workers bill. Just take a minute or two and go back through this thing because a lot of people are just hearing about this and I'm going to talk at the end about why this is a legislative possibility, what they can do. Because you've had 20 Republicans, not squishes. These are people that are traitors. Right. Led by Salazar and Lawler who are two of the worst. Salazar is probably worse than Lawlor. Walk me through just once again why you call it the screw America worker, the SAW bill.
Rosemary Jenks
Yeah. Because every level of American worker, whether you're low wage, medium wage or high wage, you will be screwed by this bill. It screws American low wage workers with mass amnesty of more than 10 million illegal aliens who would get permanent right to be here and legal permission to work. It screws mid and high wage American workers by more than doubling green cards for employment based immigrants. It blows open the door for high tech American workers. It codifies optional practical training opt. It allows anyone who, any foreigner who gets a STEM degree in the United States to stay permanently. I mean the, the damage that this bill would do to American workers is unfathomable. This is, you know, Lawler says well if the, if we don't pass this now, the Democrats will pass amnesty. This is the Democrats amnesty bill. It's mass amnesty, mass immigration and zero deportations. Because as the amnesty starts, ICE would not be allowed to deport a single illegal alien.
Stephen K. Bannon
Hey.
Rosemary Jenks
For at least two years while they have a chance.
Stephen K. Bannon
Salazar, Salazar, Salazar and Lawler. I want you to suck on this and why you're traitors and you ought to be run out. They got to be turfed out of Congress. She's worse than he is and he's terrible. But all 20.
Rosemary Jenks
But the other thing, Steve, is we need.
Stephen K. Bannon
Yeah, go ahead ma'. Am.
Rosemary Jenks
They claim that they have zero tolerance for criminal aliens in this bill and that is an absolute fabrication. The bill includes very specific waivers for criminals if you're convicted of multiple misdemeanors. You get a waiver. If you've been deported, you get to come back and apply for amnesty. If you illegally voted, you get a waiver. So this, if you're in a state or federal gang database, that information can't be used against you. This is lunacy. Oh, and by the way, it also gives amnesty to all of the employers who have been hiring all of the illegal aliens because none of the information in their applications can be used to hold the employers accountable. It's disgusting.
Stephen K. Bannon
Okay, I'll do a rant this afternoon when I can have a couple more Warpath coffees, get jacked up and come in hot. But Rosemary, most importantly for this audience, because we immerse them in information and then they can use their agency. Where do they go to you, because you've dedicated your life to this. You're one of the great patriots in this country. Compare her to Salazar. Rosemary Jenks has defended American workers from the first time I met her, years ago, decades ago. So where do they go today to find out about this bill and the lies? But look, I don't want to hear about criminal aliens and bad guys. Yes, of course we're going to get the bad guys out, but that's just a SOP so people can sit there, go. No mass deportations. We're going to deport all of them. Every one of them. They're all going to go. They all have to go. And we should have a tension. Stop all these scams like the H1B scam. Stop it. Send them all home in a 10 year minimum, 10 year moratorium on all immigration. Then we got time to kind of set this thing up, sort it out, make sure American workers are the priority above all, and set up an immigration system. That's kind of fair, but it's going to take a decade to do that and we need a timeout. Rosemary Jenks, where do people go today?
Rosemary Jenks
If you go to iaproject.org iaproject.org we have a fact sheet. If you type in the search bar Salazar or Lawler, you find a list of the bills that they have sponsored. And the Dignity act is one of those. We have fact sheets on it. We explain all the things that they're lying about. So iaproject.org or follow us on X@IA project.
Stephen K. Bannon
Yeah. You're amazing, Rosemary. Thank you. Get it today. Immerse yourself in the information. Then I'll have a great rant on this this afternoon. Thank you, ma'. Am. Appreciate you. Dr. Thayer, kind of one of our resident strategists. I Want you to go back. You mentioned something on this show a couple weeks ago about Napoleon. Talk to me about when Napoleon had problems that looked like they were like Gordian Nacho couldn't do it. He would say, I want you to scale this. He would tell his marshals, first off, he says, it's your thing that you got to figure it out. It ain't my job to figure it out. It's your job to figure out. He would tell him, scale up your problem. Talk to me about that and specifically apply it to the current situation in the Persian Gulf, in the Strait or Hormuz, in the entire war with Iran right now, sir.
Dr. Thayer
Well, Steve, thanks for having me today. What Napoleon did is recognize the logic of escalation, that with a great coterie of marshals, as he had marshals and generals, these were individuals who could be trusted and they could be trusted to execute his vision of the plan. He had the objective and he was confident in assigning them their missions, knowing that they would be completed. He also emphasized the importance of focusing on the objective. Very importantly, there's one thing on which to focus and that's going to have to be achieved. Final point with respect to Napoleon is that he recognized that he was the master of improvisation. And here he reminds me so much of Trump. Napoleon said the battle begins and the issue develops. What he meant by that is he's going to start the battle, he's going to start the campaign. But because Napoleon was a master in art of the deal, he was a master, essentially a with a mind for war, genius for war, he was always going to be able to out fight his opponent who didn't have Napoleon's skills, didn't have Napoleon's abilities. So if we reply that to Iran today, what do we see? We see that President Trump is recognizing that however valuable the Iranians are as interlocutors, Beijing is going to really decide this issue, that China has a dominant voice, an important if not dominant voice in Tehran. So the question of who rules in Tehran is going to be decided in large measure by Xi Jinping because of the dependence of Iran on communist China. So President Trump is recognizing that if he takes this to be resolved with Xi Jinping, as you've suggested, that has advantages for the United States. There is a modest coincidence of interest here that Beijing wants oil out of the strait as the US Wants the strait open. President Trump, like Napoleon, is a master of the deal. They both have a genius for war in their respective fields. Napoleon obviously kinetic Trump in everything else as well. As the kinetic. So he's going to be able to out fight Xi Jinping and get him to place the appropriate pressure on Tehran. At the same time, there's US Military might and US Military in theater. Obviously, that could be called upon equally to go back to the kinetic, to go back to warfare, if that's going to be required. So we want to recognize, I think, the similarities between those individuals and to recognize that President Trump, again, a master dealmaker, is going to be able to ensure that he's using Beijing to put pressure on Tehran to bring to resolution the issues that we have at hand and to ensure that the fragile pieces,
Stephen K. Bannon
first off, the history of the Persians. The Persians have been negotiating for, I don't know, 3,000 years. They fought the Greeks, they fought the Romans, and now they got the Americans as the, also the British, I guess the British was subterfuge. And the Americans, so they've taken on the best of the West. Right. These guys also have a bureaucracy that goes back long before the mullahs. They're kind of an organized, hierarchical society as far as this goes. And they, they have a way of negotiating, which is just to tap you along. History shows it's just to tap you along. Why? Given the fact that we've defanged them and declawed them a lot and our military operation go through the punch list has been very successful. I just don't know now because they're double dealing here all the time. You see it, even the beginning stages of this ceasefire where they're putting out this maximalist thing which President Trump said, I do it in the trash can and you guys are lying because we're actually dealing with another document and we're pretty far down. We've at least got some sort of basis of agreement. They're just going to. All they're going to do is obfuscate and lie constantly. And the powers. This is a great power. You've told me, hey, the whole world is shifted now from the global war on terror to a great power struggle, particularly the two great powers, the Chinese Communist Party in the United States of America. And this is a global conflict. And they are so far deeper inside the wire here than we are there. So they're inside the wire taking this fight to us here every day at universities, on Capitol Hill, on Sequoia Capital, the premier venture capital firm. You look at finance, you look at all of it. They're deep inside of here and they also think they're winning. So why wouldn't we have Trump, who's The master deal maker. And China's always been his central thesis, particularly how he's running him out of the Western Hemisphere. And just have a mano a mano with xi in Beijing May 13. It's on the books. I don't know why we're dealing with grundoons in Pakistan who are totally controlled by the CCP 100%. And also they're Iranians. Just say, guys, let's put a pin in it. I'm going to deal with your paymaster and we'll figure something out. Dr. Thayer, your thoughts?
Dr. Thayer
Well, two thoughts, Steve. Most folks don't know that During World War II, Iran was occupied. The British took the southern half of Iran and the Soviets occupied the northern half of Iran. They didn't ask permission, they just occupied it. And the point of that was to ensure that aid, lend lease aid, could flow from ports on the Persian Gulf into the Soviet Union through the Caucasus. So the Soviets and the British just acted. They didn't ask Iranian permission. Likewise, President Trump meeting with Xi. I think there's a strategic logic there. China has, Communist China has an interest in having this resolved so that they can have access to that oil. President Trump has. Beijing has real influence in Tehran. And so what Trump is doing is encircling them diplomatically. Right. You've got the Chinese working on the right flank and we're working on the left flank essentially to diplomatically encircle Tehran.
Stephen K. Bannon
Dr. Thayer, hang on one second. We'll take a short commercial break. Scott Besson is talking about a naval quarantine in the Gulf of Oman. The American health care system is broken and for most Americans, nothing changes. There's still delays, denials, high cost insurance, roadblocks. So when I find people doing things differently, I talk about it all. Family Pharmacy is not your typical big chain pharmacy. This is an independent family owned pharmacy that gives you access to over 400 medications delivered straight to your door. They've got ivermectin, antibiotics, antivirals, nad, even your daily maintenance medications and so much more. If you already have a prescription, your doctor can send it directly. If you don't, their doctors handle it. As long as there is a medical necessity, they'll take care of you. And I'll tell you this, the feedback from people listening to this show and watching has been incredibly strong. People are using it, it's working for them and they're sticking with it. That's because it cuts out the delays, the middlemen and all the usual nonsense. This is about being ready before you need it. Go to allfamilypharmacy.com. that's all one word. Allfamilypharmacy.com Bannon. And use code Bannon10 to save 10%. The health care system is broken. Your pharmacy doesn't have to be. Here's your host, Stephen K. Bannon. Okay. All Family Pharmacy is another one of these companies that have come to us, a great sponsor. They're there to help you with your medical freedom. AllFamilyPharmacy.com promo code Bannon 10. 10% off. Go check it out today. Break the grip that the drugstore chains and McKesson, these distributors and Big Pharma have on your medical freedom. The way you do it is take action. This is totally free. When you call these folks, they'll walk you through everything. You get prescriptions, you have pharmacists, you've got medically licensed personnel. All of it. AllFamilyPharmacy.com, promo code Bannon10. You get 10% off. Do it today. Talk to their consultants, and I'm sure it will change your life. So go do it today. Leahy. You know, Leahy's a graduate of Harvard College. That's the really hard one to get into. Harvard College. I went to the trade school, Harvard College, Stanford mba, and now you. And I realize the problem with you being a lawyer is now everything. You're going to want to go to the Supreme Court as a constitutional lawyer. I'm just kidding. I'm going to come back to this topic in the days ahead. But right now, I need people to go where they go on your site to read this story and get as mad as I am. You're pretty mad, but rightfully so.
Philip Patrick
Tennessee Star.com Tennessee Star.com Tennessee has 95 counties. 93 are deep red, two are crazy blue.
Stephen K. Bannon
And one of those crazy blue counties
Philip Patrick
is metro Nashville, Davidson County.
Stephen K. Bannon
And it's going to be a fight there, Steve.
Terry Schilling
A big fight.
Stephen K. Bannon
I know, but we got to save those kids. Those kids in that county are still the backbone of this country. We got to save those kids. We can't turn them over to these demons. Can't do it. Can't allow. Just like down in Texas. This is. I'm with you. Tennessee is one of the greatest state. It's one of the greatest states in the Union. It's one of the greatest states in the Confederacy. A great state with great people. But, man, we can't let this stuff happen. Anyway, Leahy, we gotta go. I'm gonna come back to you. I'll call you after the show. You're a good man. Don't let this law school thing mess your head up. This is messing your head up. Gonna go litigate nine years from now. Terry Schilling. At the center of this problem is the birth rate in this country. You just had your eighth child, your eighth baby the other day, and something happened that triggered you to think about this and write some of these great pieces. Tell me about what happened on this event of the birth of your child. What was it that triggered you to think about this, sir?
Terry Schilling
Well, ironically, Steve, I was in the delivery room for the birth of my eighth child when I learned about the death of Paul Ehrlich. For those that are unaware of Paul Ehrlich, he's the author of the book the Population Bomb. He predicted a bunch of terrible things. Mass famines, civil wars. Chaos would reign if we didn't get our population growth under control. None of his predictions came true, even though our population absolutely did explode. We figured it out, however, Steve. Almost all of his policies and his ideology took root across all of American and really global elite influencers. He's actually Paul Ehrlich is the inspiration for Childs, for China's one child policy. But he wanted to have child tax. He wanted parents to have to get a license before they were able to have children themselves. He wanted to penalize marriage. You look at the tax code, you look at our welfare system, if you get married, Steve, you lose $30,000 in tax deductions and benefits in our economic system. It's atrocious just for saying I do. And Steve, the thing is, marriage is the best economic program, period, Ever. Period. People, men need marriage. Men, if they don't have marriage, they're uncivilized, they're dangerous. Single men, unmarried men, they commit 95% of all violent crimes. We gotta get these young men married. We've got to get the young women married. If you're not married, you're kind of an incomplete person. All right? God is very clear in the Bible. He creates woman because it's not good for man to be alone. We all need each other. And what we're seeing is the death of America, the death of the world. All of western, all of western society is dying out. Our birth rates are well below replacement levels. Marriage rates are 30 through the floor. The average, you know, age of a first time homebuyer in America is 49 years old. It's pathetic, Steve. We don't have an economy that works for families. We don't have a culture that Works for families. And we have to turn this around now because families are the bedrock of America. It's not corporations. It's not steel workers. It's not education. It's the family. This is why we go to work, because we need to support our families. We have a spouse that we have to support. Support. It's that simple. And if we don't start populating and getting married and having children again, we'll have a lower tax base. We'll have fewer people to provide for. There'll be fewer jobs. You know, countries that go through the type of depopulation that America is about to enter into. Their top industries shift from construction and building to deconstruction and demolition. Germany's gone through this. Italy's going through this.
Stephen K. Bannon
It's.
Terry Schilling
We can't do it, Steve.
Stephen K. Bannon
Where do people go? American Principles project. You've built everything there around the American family. You're saying the economics of this country has got to be based upon the American family. Where they go to get this piece? Where do they follow you? Your. Your. Your Twitter, your. Now, you guys are really on fire about the artificial intelligence, which we're going to cover tomorrow morning. All of it. But I want people to get acquainted with American Principal Project and how you've put the Natalist movement and families at the center of your cause, sir.
Terry Schilling
Well, Steve, now that you guys at War Room have been so successful in helping us stop the transgender industrial complex from sterilizing the next generation, we've got to figure out how to rejigger and revive the American family. So go to Schilling 1776 across all social media platforms. I have a new piece that will be coming out either tonight or tomorrow that talks about how Americans still think that we are suffering from overpopulation. 47% to only 41% who think we have a underpopulation problem. So check us out. Shilling 1776 across all social media platforms.
Mike Lindell
Okay.
Stephen K. Bannon
I think they'll be on the Daily Wire, and we'll push it out as soon as it's published. And, Terry, we still got a lot more work to do on transgender, the radical transgender ideology. But you guys have done such a magnificent job. Thank you. And we gotta get focused on this. Have to get focused on this. And congratulations on the eighth baby. And Paul Ehrlich was dead wrong. So, Mike Lindell, I've been doing my sums, as you say, and we went from 29 semis to 5 semis. How much did the Warren posse buy of that material? And these five semis, are they Available to us to go buy today.
Mike Lindell
When it was down to 8, and now it's down to, I think a little over four. That's been more of a pasta. You guys have taken it all, which is great. You've helped us out. This are products we're closing out. Remember, we're never carrying these products again. Like our. My are my slippers. Are my slippers, you guys. Once they're gone, they're gone.
Stephen K. Bannon
They're.
Mike Lindell
We're closing them out. 2998. These guys, these slippers and all these other products in these semis, from blankets to bath mats, kitchen. Kitchen supplies, they were all earmarked for the box stores. So we're just canceling them. And I mean, we're just here. We're passing the savings on to you. What they would have paid these wholesale prices. Go to mypillow.com war room and you're gonna see it. You save up to 80% just like the My slippers. And get the big ticket items, the mattress toppers and the mattress pairs. Pads of the mattress and the mattresses. Free shipping right to your front door. 800-873-1062. Use that promo
Stephen K. Bannon
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Date: April 9, 2026
Main Focus: Economic upheaval driven by Middle East conflicts, the weakening of the US dollar, immigration and demographic threats in the US, and the importance of family and financial sovereignty.
This episode of Bannon’s War Room delves deeply into how emerging global instability—particularly the ongoing conflict involving Iran, Israel, and Lebanon—is accelerating the shift away from dollar dominance in the world economy. It also focuses on the domestic consequences, with segments discussing several legislative and cultural flashpoints: mass immigration, the alleged dilution of American worker rights, and the declining birthrate.
Stephen K. Bannon leads a series of high-intensity, rapid-fire discussions with various guests, including Eric Bolling, Philip Patrick (Birch Gold), Rosemary Jenks, Michael Weiss, Dr. Thayer, Terry Schilling, and others, to break down the stories behind the headlines and the implications for Bannon’s populist-nationalist audience.
[00:00–02:15]
"Gold will be the great place to put it. ...the US dollar has done nothing but decline for the last hundred years..." (Eric Bolling, 00:10)
[09:05–11:41] Philip Patrick Segment
“...any institution that owns US debt is now a legitimate war target...” (Philip Patrick, 09:43)
“The dollar doesn’t fall overnight...it erodes milestone by milestone...not necessarily an apocalypse, but death by a thousand cuts.” (Philip Patrick, 10:23)
[20:31–25:32]
“If that doesn’t tell people there is a real problem on the horizon, I don’t know what will.” (Philip Patrick, 21:43)
[24:09–25:32] Sanctions as Double-Edged Sword
[02:33–06:08]
“Why is Israel so focused on Hezbollah that it's willing to put so much on the line?” (Rosemary Jenks, 03:34) “Hezbollah...is not just a terrorist organization. It is a paramilitary...they control the airport, they control the security apparatus...if ever the term deep state should apply, it ought to apply to this organization.” (Michael Weiss, 05:19)
[36:37–43:30] Strategic Outlook: US/China/Iran
“Napoleon was a master...he was always going to be able to out fight his opponent who didn’t have Napoleon’s skills...President Trump is recognizing that...China has a dominant voice in Tehran...” (Dr. Thayer, 36:40–38:10)
“Every level of American worker...will be screwed by this bill. It screws American low wage workers with mass amnesty...It blows open the door for high tech American workers...zero deportations.” (Rosemary Jenks, 31:41)
“Almost all of his policies and his ideology took root across all of American and really global elite influencers… Marriage is the best economic program, period, ever… Single men, unmarried men, they commit 95% of all violent crimes.” (Terry Schilling, 47:40–48:55)
On Dollar Decline
"Gold will be the great place to put it...the US dollar has done nothing but decline for the last hundred years."
—Eric Bolling, [00:10]
On Weaponization of Finance
“Iran's declaration that any institution that owns US debt is now a legitimate war target was very telling.”
—Philip Patrick, [09:43]
On Fragile Middle East Ceasefire
"It just seems like Israel doesn't care about this cease fire."
—Rosemary Jenks, [03:28]
“Hezbollah… the kind of crowning achievement of the IRGC power projection project… If ever the term deep state should apply, it ought to apply to this organization. They control the airport, the security apparatus…”
—Michael Weiss, [05:19]
On Immigration Bills
“This is the Democrats amnesty bill. It's mass amnesty, mass immigration and zero deportations... ICE would not be allowed to deport a single illegal alien.”
—Rosemary Jenks, [31:41]
On Social/Economic Impact of Warfare
“Our system is under assault. First, number one, the elites in this country have done a horrible job of mismanaging all of this...”
—Stephen K. Bannon, [17:47]
On Birthrate and Society's Future
“Marriage is the best economic program, period, ever. Period. People, men need marriage. If they don't have marriage, they're uncivilized, they're dangerous.”
—Terry Schilling, [48:20]
The tone throughout is combative, urgent, and populist—“insider” and “educational” for a self-selecting, engaged audience. Bannon and his guests frequently use metaphors from history, war, and finance to frame domestic and global events. The language is direct, emotive, contemptuous of “elites," and invokes patriotism and nationalist priorities throughout.
This episode frames the war in the Middle East as the catalyst for fundamental shifts in global finance and domestic policy. Listeners are urged to understand capital markets, reject elite narratives, resist mass immigration, and prioritize nuclear family life—while preparing for a turbulent future, both as individuals and as a political movement. The recurring motif is that “the war” (economic, demographic, cultural) is “inside the wire,” and only knowledge, activism, and collective resolve can counter it.
“We’re not here to make you the smartest at the backyard barbecue. We’re here to make sure you understand how the world works.”
—Stephen K. Bannon, [25:50]