
Episode 5514: The Strait Is Open But It Will Cost You; Shutting Down Leaks From The WH ...
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News Anchor
Now has learned Donald Trump's primetime address this Thursday will focus on claims in newly declassified intelligence reports that there was planned foreign interference in the 2020 election. Here we go again, folks. It's set to be the latest instance of Trump using the power of the Oval Office to promote his election lies and set the stage to potentially call future elections into question low like the ones coming up in November. Msnow also reports that two FBI agents were fired last week for refusing to participate in the Trump administration's investigations of Georgia's 2020 presidential election. It bears repeating that there has been none, zero, nada, nothing, none. Again, no credible evidence whatsoever of widespread voter fraud during the 2020 presidential election period. Full stop.
Political Commentator
We apparently are going to suffer through once again Trump trying to get people exercised over the fact that he lost to the 2020 election, which he lost. The president is apparently planning some kind of primetime speech on Thursday to talk again about how wrong it is, what a scandal it is that he lost the 2020 election. His desperation ramping up on this subject, right? In recent days, his effort to subpoena information about election workers in Fulton County, Georgia in 2020 was thrown out in court. He's now taken hundreds of FBI personnel and taken them off whatever else they were working on to assign them instead to work in Fulton County, Georgia on something. We don't know what exactly that something is, but it's apparently required them to push out the special agent in charge at the FBI field office in Atlanta and now at least two FBI intelligence analysts who refused to be part of these reindeer games and had to be fired so that they could go forward. Trump's DOJ within the past week has now threatened in writing to jail all the senior, senior election officials in all the states. On top of all that, he's now fired everyone on the Federal Election Assistance Commission, which helps states with election security and certifies voting machines.
Foreign Policy Analyst
We are closer to forever war than we are to a cease fire. And I take no joy in saying that. I have felt for a long time ultimately the two parties here would get to a negotiated conclusion. But certainly the cease fire is frayed, if not completely off the charts. And you pointed out the most important thing the administration is doing is this a thousand mile blockade of the Iranian coast that's about California, Oregon, kind of length, a lot of ports, very expensive to do that. But if anything is going to get the attention of the Iranians, it'll be closing down those red ports that you're showing right there. But final thought here, that takes time. You can't just open and close that gate overnight. So unfortunately, we're probably in for a period of turbulence here.
Political Commentator
These are not like pie in the sky scenarios.
Stephen K. Bannon
He's literally talking about this.
Political Commentator
He's literally talking about doing these types of things. So when you say like, well, I
Stephen K. Bannon
don't understand if you could do something that crazy, the answer is yes.
Political Activist
Right? And I just want to say, you know, I don't live in Maine, I'm not an immigrant, but I'm a proud American. And this administration has made every single American complicit in, in these deaths. This is happening with our taxpayer dollars that could be going to schools, to
Stephen K. Bannon
health care because of what Susan, Maine and Republicans are doing and have sat back and let this happen.
Political Activist
But the other thing here is the hardliners in this administration, they don't care about the politics because many of them are white supremacists and they don't care. They're cruel and this is what they want. This is the same administration that removed protections for Haitians, for Syrians. At the same time it's allowing more Afrikaners only white South Africans only in. So this is all one of a piece. And when we ask ourselves why is this administration doing something that is so obviously bad politics in addition to cruel and un American, I think we need to really look carefully at all the anti democratic behavior from this White House because this is not a popular policy. So why would someone pursue a popular policy?
Political Commentator
Then you've got the President's declaration that he wants to charge a 20% fee on all commercial shipping moving through the strait. I mean, this is a direct contradiction of the long stated position of the United States and the recent stated position of this United States Secretary of State and the Treasury Secretary. What do you do with this?
Foreign Policy Analyst
I think as overall global reaction to this is going to be extremely negative. And in particular because as you say, there's long term history here. The US Navy has built its reputation over two and a half centuries on preserving freedom of the high seas. And as recently as two days ago, Secretary of State Marco Rubio, who knows his international law very clearly, said any kind of a toll on a strait like that is not how we would do business. It is not legal under international law. So I am scratching my head to understand how you would even collect this, the level of that toll. It sounds somewhat benign, 20%, I suppose, but that it would double the cost of shipping because the shipping is a significant component. Now you're going to add another 20%, not based on the shipping cost, but based on the total cost of the multibillion dollar ship. So I see no way realistically this is going to be implemented in, in the immediate moment.
Political Analyst
I think they are doing the bidding of Donald Trump to reinforce the message that the 2026 midterm elections are fraudulent, that, that in some somehow there that these elections are illegitimate and he needs to put forth, whether it's ICE or some of the other resources at his disposal to interfere with them. That's why even when something like a housing bill comes up, they somehow bring it back to election interference and the SAVE Act. You can't connect the two for any other reason. That bill is dead on arrival in the United States Senate. It's not going anywhere. So that, that could be the only reason that I would think that this is continuing to happen on a balls
Comedian/Host
for Donald Trump to gently roast someone for yapping too much. He's the one who toasted his friend on meet the press, CNN's State of the Union, Fox and Friends. Trump was everywhere remembering Lindsey Graham, even when the host of the show appeared to not want him to.
Political Commentator
These people suffer from a very fine disease known as Trump derangement syndrome. And he was saying that.
Stephen K. Bannon
And Mr. President, did you notice he's
Political Commentator
really come a long way on the terminating the filibuster.
Stephen K. Bannon
But Mr. President, did you notice any, did you notice anything different?
Political Commentator
They find millions and millions of balances impossible and they didn't know in two weeks, they, they let it be known an hour later. So.
Stephen K. Bannon
Mr. That Steven. Mr. President, real quickly, did you notice anything different from.
Political Commentator
He's going to be on the runoff. These elections are very dishones.
Foreign Policy Analyst
Are you.
Comedian/Host
Oh, no, I'm sorry, Mr. President, the TV station's going through a tunnel. But of course, even his best friend, Donald Trump had to concede that Senator Graham's career did have a bad moment.
Political Commentator
Now, he had one bad moment and that was, you know, the January 6th thing when he stood up. All right, now I've had it. That's it. I can't do it anymore. So I give him a 99 instead of a 100. You know, most people, a lot of people are at 100. But he did have that one little moment.
Comedian/Host
You know, my favorite part of any eulogy is when they announce the person's life score. It's doing a eulogy like it's Portnoy doing a pizza review. Yeah. Graham had a good undercarriage, good mouthfeel. Yeah, yeah. Well, I'm doing a score, a life score. I'm doing A life score over here anyway. 8 2. I'm gonna give him an 82 solid score. 8. If he had let the people kill him on January 6th. 9 2. Monster score. I'd give him a monster score.
Economic Analyst
This is our June release of the Consumer Price Index. Expecting a headline number to be negative, negative 1/10 of a percent. This is four times more negative, minus 4.10 of a percent. That would be the biggest negative drop that we've seen since 420. Since basically Covid timing which really affected of course all of the inflation data points. So that goes back basically six year low. And if we look at the CPI month over month on the core, also under expectations comes in@goose egg00 will be the smallest amount it would equal Jan of 21. To find a smaller change or a more negative change or minus one. 10 of a percent. That's May of 2020. And if we look at the year over year numbers year over year headline, 3.53, 10 less than expected. Much less than the 4.2 in the rearview mirror. That would be the latest since March of this year when it was 3.3 year over year Core 2.62, 10 less than expectations. 3, 10 less than the rearview mirror. 2.6 equals March 2.5 brings you to February of this year.
Stephen K. Bannon
This is the primal scream of a dying regime. Pray for our enemies because we're going to medieval on these people. I got a free shot. 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.
Eric Bolling
And where do people like that go
Stephen K. Bannon
to share the big lie?
Eric Bolling
MAGA MEDIA I wish in my soul, I wish that any of these people had a conscience.
Stephen K. Bannon
Ask yourself, what is my task and what is my purpose? If that answer is to save my country, this country will be saved.
Economic Analyst
War ROOM here's your host, Stephen K. Band.
Stephen K. Bannon
Tuesday the 14th of July year of our Lord 2026. 2026. You saw where MSNBC they're saying it's no big deal, it's just rehash of of previous issues dealing with the 2020 election. It couldn't be farther from the truth. This is where you're going to expose the deep state in the intelligence community of what they knew and when they know it, the lies they've been perpetuating. Of course MSNBC loves all that. They're the comms department for the deep state, this is the way they hope to take control. And hey, let's be honest, it's working for them. Look at the invasion that we have in the, in the nation, 20 million illegal aliens in a very organized way that came in on Biden's watch. The mass deportation coalition in Washington on Thursday is going to have their first kickoff conference. I think it's state directors are showing up to get coordinated for this fall because mass deportations is still I think the principal reason. Border security in mass deportations are the principal reason people voted for President Trump, including African Americans and hard working Hispanics. Of course we've appears that we've stopped that because of I think polling that's totally inaccurate. Still the number one issue among people to get out low propensity voters, lower information voters is mass deportations. We have to address, we're have bowling on here. We're going to talk about inflation coming down because some of the drop in oil prices, of course they're blown up again overnight as we hammered again with a major escalation and really a major strike on the Persians. Of course they're hitting back, actually hit us I think with a drone from a submarine, a mini submarine. So they're, they're not giving as good as they're getting because they're getting pounded. But the President, I don't know if, if the clips are getting to him and for more about who's going to pay for this, but he's put a 20% kind of spiff on. You heard staff readers right there. Oh, this can't happen. Well, somebody's got to pay for this. So who's going to pay for it? We believe in the free navigation of the oceans. Absolutely. But to ensure that. Who's going to pay for this? The Europeans are running to the hills. They're not sending any assets down. No naval assets. The president said, hey, I've reinstalled, I've re, I've put back in the naval blockade. He says now just of Iranian ships, that's fine. That means no Chinese Communist party oil, at least from the Iranians. Of course our great allies, the Saudis sell it to him all the time. But he's put a 20% I service fee. I don't want to call it a toll. A little something for the effort. President Trump has reiterated that we control the Strait of Hormuz and it's open for business. But it's going to cost you a 20% carry interest. Yes, we don't overcurried interest. They actually own the oil, they'll go sell it or the cargo? People are doing analysis. Eric Bolling says you got to count the the massive cargo ships. It could be a lot of cash and we need that because we can't send 88 billion dollar 100 billion dollar bill up to the Hill and just say, hey, can you just go tell Scott Bessant print some more money, sell some more Treasuries. Want to thank today's sponsor, Jim Rickards Strategic intelligence. Now more than ever. Eric Bowling on the other side. For the first time Since World War II, our national debt held by the public has exceeded GDP. America, this is a wake up call. Our sins of the past, reckless government spending have finally caught up to us. So what's next? Higher inflation, higher prices, higher cost of living expenses and higher interest payments on the national debt. Every dollar Washington spends on interest is a dollar it has to tax, borrow or print. Smart retirement planners prepare for potential setbacks and they can do that by diversifying with a time tested asset known for weathering the storm. That is physical gold. Now physical gold you can get from my trusted friends at Birch Gold Group. Text the word Bannon B A N N O N to the number 989-898 and Birch Gold will send you a free info kit on converting an existing IRA or 401k into a tax sheltered IRA. In physical gold, you don't pull the rip cord on your parachute once you've already hit the ground. Don't wait for economic turbulence to diversify. Text Bannon to the number 989-898. Again, text Bannon to 989-898. Own some gold and own it from Birchgold War room, here's your host, Stephen K. Bannon. Okay Rickard, a couple of specials are still on and I want to make sure we get to those Rickards. Jim Rickards is still going to continue his Fourth of July in honor of the 250th anniversary. You go to RickardsIntel.com it's a different landing page RickardsIntel.com strategic intelligence. You get it for a whole quarter 90 days for 1776 at 17.76. And if you don't love it, you tell Jim, I don't love it. I don't renew. You get your 17.76 cents back. So it's completely risk free. Check it out. Strategic intelligence based upon predictive analytics. Make yourself smart or smarter. Maybe smartest. Also, we're going to talk about deficits the rest of this week. I've got up on Actually my getter, I've got the string of deficits for I don't know, the last 20 years or so. Pretty scary. We called it last year. We said the deficit this year going to be about $2 trillion. Guess what, it's 1.4 trillion for the first nine months. I think it's going to go to 2 trillion but who knows at least 1 8. We got to refinance that or first we got to finance it, then we got to refinance it. It's the reason that the dollar is under pressure from the BRICS nations. Other people don't want these rolling devaluations. But tax number Scott's best since under the gun to get all the money the IRS believes it's owed. You may have a different opinion. Tax Network USA, 866-513-5516. Go there right now. They will give you a free discovery call you to go through your all your documentation and they will tell you what you really owe the bid in the ask. Make sure you take care of that day Another special for the War Room Posse. So check it out. Feedback's been tremendous. Eric Bolling talking about deficits. Rick Santelli, Rick Santel, I know a buddy, a guy you admire as I do too. Just talk to us about the inflation number. Talk to us about this print sir. Why, why why are numbers dropping?
Eric Bolling
This is great news. It's a fantastic you call it right Steve, a print I would say 90, 85, 90% of the downdraft in the inflation number consumer price index. So it's to the consumer. It's a general number is in the energy numbers. Remember early this is a monthly reading. So a month ago we were trading $110 a barrel, $105 a barrel. We got very quickly from 105 down to under 70 and within a few days in fact when declared piece was happening and it stayed down to 6575 for most of the month and only recently has it jumped back up over $80 a barrel last 48 hours or so. So that full month was a lower oil price. And when you're ripping at $105 a barrel and you start using $75 $70 barrels. Of course energy is such a huge component in the consumer price. We use energy every day. Either we put it in our cars, it's being trucked for the goods and they're being transported across the country or putting in our jets. So it's a massive number. Great news, great direction. I hope it lasts Steve. But you know, again, immediately 60, $70 barrel became an $80 barrel very quickly when, when Trump said, we're closing, we're, we're hitting Iran, we're going to blockade the straight of hormone movements. The good news is, if he does take the 20%, Tony presents a big number. I think they're probably going to rethink that after, after, after a while, because that number.
Stephen K. Bannon
Whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa.
Political Commentator
Stop.
Stephen K. Bannon
Why are you negotiating against ourselves, these numbers? Yeah, go ahead.
Eric Bolling
Because a lot of what goes through that strait, I would say 70, 80%, 75% of what goes through the Strait is petroleum. 23% of the world's petroleum passes through the Strait of Hormuz. That means there's a 20, 20% tax, 20% tariff put on all global oil.
Economic Analyst
Thank you.
Stephen K. Bannon
Thank you.
Eric Bolling
It's not just.
Stephen K. Bannon
And your point, and your point in your point and your point would be, sir, is any of that. Or American, Is that, is that, is any of that oil American? Eric, A guy named Eric Bolling taught us the war room that none of that oil is going to the United States of America, and none of that oil is owned by the United States of America. And President Trump's got Iraq coming up today. He always talks about if he was running the deal, first of all, you've never gone in. But he would seize the oil to pay for it. This is essentially kind of not seizing the oil, but taking a vigorous. Right, Taking a vigorous to get paid. Why do we care if the Chinese Communist party is paying 20% more for their oil? Why do we care if, if the French and the British and the Italians, why do we care? They've been, they've been freeloaded. They've been free. Well, you're just sitting there saying it's too much, sir.
Eric Bolling
No, here's why. Allow me. Because when you put a 20% tax on 23% of the global oil market, eventually they realize it's too expensive to ship oil through the straightforward moves. And they did what they did the last time. People are saying, bowling, if none of this oil is ours, how come oil prices are $100 a barrel? Well, because we were, we, we, we have a free market system in America. It's grown to make us the strongest, most profitable, strongest military, greatest economy on the planet. But it means you can sell as a private entity, sell your product to whoever, whomever you want. So are there were oil companies here who were selling overseas. They were selling it into the people who were paying a higher price in the Middle East. Therefore, there was the barrels here Became higher price as well. Maybe not the full amount that they're feeling through that straight of hormuz oil, but we were seeing higher. We saw.
Stephen K. Bannon
I got a big problem with this. First off, I had a big problem with exporting. I realized part of its about refinery capacity. Okay, that's what you guys always put in our face. But hey, I'm all for limiting what gets exported here until the United States has got cheap oil.
Eric Bolling
I don't put anything in your face. I'm just telling you, I've done this for 30 years. I see the oil markets, I see what's good, I see who's getting hurt. Who helps night bowling. President Trump, I mean I don't listen, I, I, I'm against putting limitations are
Stephen K. Bannon
all you traders, I thought you, hang on. I thought you traders, I thought this was bastion of Atlas Shrugged. I thought this was all uber mint. Hold it. All you guys do is moan and whine. Now President Trump's come up with a solution. It's a perfect solution. He's going to put, he's going to just take a spiff, maybe a little more than a spiff on top of all cargo. You're the one that reminds me this morning, you go, hey, guys are miscalculating this. I go, how they miscalculating it? They go, they're only including the very large crude carriers. They're not including these massive. And if you've seen them coming out of the Gulf, they're the biggest, the biggest container ships you'll ever see in your entire life coming in and out. He's going to put the 20% on that too.
Eric Bolling
Correct, on all of it, on all goods. And maybe they do earmark just oil because it's certainly easy to recognize an oil tanker because they're different, different ships. They sit very low into the water, right off the top of the water because you know there's not 2 million actual metal barrels on a ship. Those are big containers filled with the equivalent of 2 million barrels. 42 by the way, 42 gallon barrels in oil. Not a 55 barrel drum like you see on the street. But Steve, talk about 20%. A little spiff. Can you imagine if the warm has a massive following? So you put all this data out and they charge you for the amount of data you put out. They say, oh by the way Comcast or whoever the hell is running your data. So now we're just going to throw a little spiff, a 20% increase on the price of your data. You go apoplectic because you would have to turn around and charge advertisers more to put into advertising to make War Room profitable. So most people aren't working on a 20% profit, I'll tell you right now. But oil companies are not. They have very, very thin margins, but they sell massive amounts of oil. So to amp up 20% to 23% of the global oil market absolutely will affect the oil price here and in fact, in fact, in, in fact affect inflation here. But I'm to the point now, Steve, where America doesn't seem to care a lot about a $4 gallon of gasoline. So if that's the case, then let's do it. Yeah, let's pay for what's going on. I tell you what, if this were Joe Biden or Democrat or Kamala Harris in the office, we'd be paying $8 a gallon for oil and we'd be begging Iran to sell us more or do something to take the throat off the American economy. So given what we got, as we said last night on my show, I kind of like this idea. It's not very, you know, it's not very free market, but this is one that maybe we want to do because to pay us back for the, for, for whatever, I guess political gains we're going to get, we're going to get out of this.
Stephen K. Bannon
Well, you say free market. We know the world's not a set of free markets, a set of mercantilist policies. There is no free market and not even an oil. Do you agree with the statement that all is a strategic asset?
Eric Bolling
The most now, it's, it's our lifeblood. It's, it's like, you know, the human body is our economy or so why
Foreign Policy Analyst
are we,
Stephen K. Bannon
when are we going to start using it strategically? Isn't this President Trump saying, as long as we have those carrier battle groups out there, as long as they're talking about our kids, young men and women going to take in Carg island, as long as we're doing combat sorties over Persia, that somebody's got to pay for this. And hey, people should understand nobody stepping up right in the Persian Gulf. Nobody said the Italians, they went to NATO and they blew us off. There's no more naval resources or assets coming down there. There's no more troop reinforcement. The Gulf Emirates, you know, every now and again, UAE gets their publicist department to leak about how they're spending the special forces in and they're doing all this stuff. It's all BS The Saudis, UAE and Qatar are once again drafting off US you agree with that? And they're getting hammered off us.
Eric Bolling
You hit on something. Yes, agree. A long time ago, we said, we have no. We have no allies. We have BS Allies in the Middle East. They're all full of it. They're full of crap. But you hit on something we developed right here on the War Room. Steve, I think you remember this. I came out, I said, I think I've figured this out, what we need to do. And you've been saying, preaching this forever, but we. This Saudi Arabia is known as the global swing producer for oil. They're the biggest. Well, we are now. But they were the biggest producer in the Middle east. And they would pull oil off the market of primary, put it on the market. Depending on where they wanted the price for oil, depending on supply and demand, we could be the swing producer. But we have to first establish ourselves as the swing producer. We need to be able to produce more oil than we're producing now and also produce enough so that we take care of our US needs, but also sell 30, 40% of the world oil, become that big of a producer that the whole world will go to the United States and say, hey, what's our price for oil today? Can you imagine the power, Steve K. Bannon, a Stephen Bannon president, with the power to dictate the price for global oil? Who's getting hurt, who's not?
Stephen K. Bannon
Let's worry about giving that power to. Let's worry about giving that power to President Trump. So he's got the power. Hang on for one second. We're talking about that because now you're talking about something fascinating. Geopolitically is all really a strategic asset. And how's the United States use it to its advantage instead of underwriting a massive military deployment to the Middle East, a place that we want to extract ourselves from? I think putting a 20% toll shouldn't call it a toll service fee will get enough people's attention over there to say, hey, maybe ought to wind this thing down and have the Americans out of here. Short break. Everyone's focus on how the conflict in the Middle east is raising oil prices. But there's another grim reality to this contention. Oil isn't the only resource being constrained. About one third of global fertilizer trade happens through this region. And with spring planting season on top of us, American farmers are sounding the alarm, with some saying they can't afford to plant their fields. When one piece of the supply chain gets hit this hard, you know what comes next? Higher fruit prices, reduced availability, maybe even panic Buying. That's why having an emergency food supply at home makes so much sense. And that's where our friends at my Patriot Supply come in. Right now@preparedwithbannon.com that is preparewithbannon.com we've set up an entire just site for the war room posse. You go to preparewithbannon.com that's all one word. Preparewithbannon.com you get a three month emergency food supply. They'll include a free mega protein Upgrade, an incredible $200 bonus you don't want to miss. It's a simple way to protect your family from whatever comes next. Go to preparewithbannon.com that is preparewithbannon.com to get your emergency food supply today. That's preparewithband.com do it today. Go check it out.
Economic Analyst
Here's your host, Stephen K. Band.
Stephen K. Bannon
So Eric, then how do we shift this and have it strategically? You know President Trump had a plan the first administration somewhat in a second but full spectrum energy dominance was going to be the underpinning of all his economic policy. And we saw in 2019 the magnificence results of that. How do we turn oil from something we're having? We're right now in a situation we're defending the world's oil market, not getting any benefit from that and paying out enormous amounts of money. It just that is not sustainable. This is why Birch gold and a dollar empire. Go to Birch Gold right now and find out about the how the dollar underpins the entire world economy. Birchgold.com ban and enter the Dollar Empire. Eight free installments. A ninth one coming. Find out today. So when I put that list up of the deficits. You've seen the deficits, Eric. We're 1.9. Excuse me. Let me get the number right. $1.4 trillion in deficit just this fiscal year. We're going to go to 1-8-2 trillion. That's all got to be financed. We are folks. Write this down. Number two principle. We're going to have a cr. The appropriations bills are not done. They're blocking. The Congress doesn't want to do any cuts. They don't want to hear from Russ vote. I think we did a rescission the other day of $10 billion. I'm not sure that's all the way through. But why don't we turn what is a liability and us being in the Middle east is a massive liability for the United States of America. It's a sideshow. And the Israel situation is a sideshow to a sideshow in Israel and get their own independence and they want to go to Beirut. Go to Beirut. You want to go to masses, go there. You want to go Tehran, it's all open for you. Just do what you got to do what you think is in your best interests. But how do we turn oil to a truly strategic asset here in the United States? How do we become the swing producer?
Eric Bolling
And we're well on our way. So the United States right now produces about 14 million barrels of oil equivalent a day. That includes natural gas and other forms of hydrocarbons. We're the top producer in the world. Russia is about nine and a half or so, Saudi Arabia about the same number. And then there are others producing small amounts. So we are already the largest producer in the world. If we were to just say, I don't know, become double the size of Saudi Arabia and, or Russia, maybe the amount that Russia and Saudi Arabia produce together, we're only 4 million barrels more per day away from that. We could easily do that. Right now we have a whole Alaskan north slope. We used to produce 30% of our oil off the north slope of Alaska. We stopped doing that for environmental reasons. We have a massive natural gas bubble under the sea in the Gulf of America. There's a huge gas bubble that we're negotiating with other countries. Who owns it? Forget it. Just go tap it. We own it. We'll go in there, we're first. Plant the flag there like we did on the moon. The ways we can produce easily produce 18 million if we got the 20 million barrels of oil a day. Not hard to do, Steve, with our technology, our oil companies. We just need the politicians to get a little bit more. Let's call them cojones and tell the environmentalists to go screw off because this is going to be a thing going forward. We'd be self sufficient in oil. We would dominate the oil market. We could dictate who is hurt and who is helped by the price of oil. Every single global economy right now is dependent on the price of oil. If you have any questions about that, look what happens every time we jump to $100 a barrel. Our inflation skyrockets. When it goes down, oil goes down, our inflation eases, as today proves out. So becoming that swing producer for oil where the question is, here's a tough question for me, a libertarian who dictates that price. So someone is going to say let's throw five more million barrels of oil a day on the market for a month. Someone has to make that decision. Is it a government and you really trust the government to make these decisions for the, for the good of the country or the good of themselves? I'm not really sure. That's another question. But we could certainly get to the point where whoever the commander in chief is could decide if China was going to suck wind for a quarter or not and maybe negotiate or, or see if a country that wants a nuclear weapon is going to suck wind for a year or negotiate their way out of getting a nuclear weapon.
Stephen K. Bannon
The power of oil is incredible. Now that we control Venezuela and I think we're guiding Guiana, which I think is the biggest new potential producer coming on. You got the Gulf of America plus you got all the fracking you do because the, was it Pemex, the Mexican state authority took this oil out very inefficiently. So there's all types of opportunities. North Slope, Pennsylvania, I mean the hemispheric defense in the hemisphere in the Gulf of America, nations around the Gulf of America, North Slope, you know, North America, all the way up to potentially our new state up in count in Canada, right, that Alberta that wants to, wants to come and join the United States or at least they're talking about that because they're so tied to the state of Texas. Historically, we're an energy superpower. Why are we messing around? The Middle east, that's what we put the 20% on. If you put the 20 on and enforce it, the Saudis, UAE, Europe, they're going to come up with a solution. It's a forcing function. It forces everybody to get their attention saying hey, we're not going to be here unless we get paid to be here because we're burning a hundred billion dollars a quarter. Sir, you're right.
Eric Bolling
You're a billion percent right. You're spot on. But first you got to get the full energy independence yourself. So you can't be. We're doing 18, but we're still using 20. You got to hit the 20, make sure you're okay.
Stephen K. Bannon
That's capacity. Tell me, tell me about the refinery. Refinery capacity limitations on the oil we actually produce. How bad are they? How bad is that?
Eric Bolling
It's a massive problem. But it's not because we don't have the technology. It's not because we don't have the land. It's because we have a bunch of NIMBY jerks not in my backyard who are allowed lobby to spend a lot of money and they make sure that people get the idea that a refinery five miles away may somehow poison your drinking water.
Stephen K. Bannon
It won't.
Eric Bolling
But Once we get through those things, we will not produce the oil, but we'll also be able to produce the gasoline. That's great for the consumer. But Steve, you want power. Get to full independence in your own oil situation. Produce five more million barrels a day and use that five to swing produce. I'll drive the price up. I'll drive the price down with those 5 million barrels. Because if you're already even flush at 20 and then you've got 5 to throw on the market, you can put the price down, pull them back off the market, it price goes back up, but your oil is still yours. You're not going to be affected by. That's what's called a true swing producer.
Stephen K. Bannon
Eric, where do people go to get all your content? You follow us, you come before us. In fact, hopefully we'll do a handoff today like we did yesterday. If there's a bunch of breaking news, which I think there will be. Where do people go to get all your content, including your new, your new show on, on YouTube where we are still banned.
Comedian/Host
How's it working?
Stephen K. Bannon
How's it worked at the. Pirate bowling is on. And I don't mean Pittsburgh Pirates, I mean pirate. How is Pirate Bowling on YouTube in War Room still banned? Well, that's, that's a, that's a, that's a, that's a philosophical question where people go for your show.
Eric Bolling
I got lit up yesterday because I asked Senator Johnson that I didn't believe that that Mitch McConnell picture was real. He agreed with me a little bit. And it went everywhere. It's all over the, all over the stratosphere. It went viral at Eric Bowling. Eric B O L L I N G Everywhere or right here. Real America's Voice with the great Stephen
Stephen K. Bannon
K. But hang on. Now that you brought it up. Hang on, now that you brought it up, Johnson spoke the truth. Didn't he say his staff had told him that was an old picture? That was a doctor.
Eric Bolling
He said he was told earlier that that was an old picture. But if you look at that picture, McConnell hasn't looked like that in five years. I mean, I. Here's a bigger, here's a bigger issue, Steve. Can you imagine if McConnell's staff put out an old picture and said this was him? It's with no real proof of life other than a Washington Post sports section from the day. I mean, that's easily to. You can AI that thing.
Stephen K. Bannon
I just thought, I, I thought I, I thought the wife came back because the Chinese Communist Party wanted to take, you know, wanted to Claim the body anyway. I'm being cruel there, but Eric Bowling, we'll see this afternoon. Thank you.
Eric Bolling
Good to see you. Thank you.
Stephen K. Bannon
Can we play the two things came up on MSNBC yesterday? Of course last night they, they carpet bombed us. Just hang on, we'll call for in a second. Number one, Nicole W. Well, earlier in the day I think it's David Rhodes talks about. He's one of these investigative reporters. He's laying us out because he's been briefed by, by, by the White House. They put out a tweet that said two senior officials from the White House briefed, briefed him and they were, they were given anonymity so they can have a free discussion. No conservatives had been. Had been briefed at that time. No. Sometimes they do these pre briefings. Nobody. This thing was highly classified. The reason that Pulte is over DNI and John Solomon. John Solomon left his 6 o' clock show here. He's been following us for years. He's doing double duty. He's a special government employee in charge of a declassification task force. You're going to hear a lot about this task force. And then yesterday Nicole Wallace talks about exclusive, you know, exclusively on msnbc. How does that work? In what universe would you give. And one of the reasons I wanted to play some of the. Particularly the, the DEI hire at the New York Times calling senior administration officials white supremacist. It's every day. And she's the combo platter of New York Times. Plus she's on Morning Joe all the time. Why do. My point is that they are pure hatred. You watch Rachel Manila say it's pure hatred about President Trump. It's pure hatred to the Trump administration. It's pure hatred to the MAGA movement. It's pure hate. Hatred to the policies of President Trump. There's no middle ground. They're the ones skipping around with Platner. They're the ones skipping around with mam. Donnie. He's a folk here over there. So why when you have this briefing that deals with the most classified material about foreign interference in a presidential election and it deals with the intelligence communities understanding of that and suppression of that information? Because this is why we're doing it in July of 2026. On what planet do you brief the President's media mortal enemy. Why is that? Let's think about that for a second. Let me, let me think about that. Why would you do that? Oh that's right. You want it to fail. This is one of the problems we have. President Trump won on a set of policies that the American people overwhelmingly supported. It was the greatest comeback, I think, in all republics and democratic societies, not just the United States, because he won on policies, border security, mass deportations, no foreign wars, and to take on the deep state, to deconstruct the administrative state, but, you know, deregulation, or even deeper than deregulation, but also to take on the deep state, full stop. Is anybody, is anybody confused about that? Was that not laid out very clearly? Did President Trump not campaign on that? Did we not do Project 2025, this audience? Did we not spend years in the wilderness? And yes, you know, Lindsey Graham. And we will not speak ill of the dead on the war room, but we'll bring up a factoid where President Trump said that what kept Lindsay between a 99 and 100 was him standing up on January 7th and 8th and condemning President Trump and saying he's had enough and all that. Well, we didn't have enough. In fact, we didn't have nearly enough. We wanted it back in all its glory, and President Trump is back in all his glory. But the question, and I think this is very emblematic of one of the issues, and I think this is very emblematic of why we may have an enthusiasm gap. People want this president to succeed. They want this president's program to succeed. They want MAGA to succeed. They want America first to succeed. And they want to bequeath that to others that will come on and fight for these basic fights around the country's sovereignty and that the citizens of this nation come first. People are prepared to fight for that. They are prepared to engage in that. So why, when we get back to the railhead of one of the most important issues we can discuss, which is the deep states war against a guy named Donald Trump, starting from the very first time he came on the stage. Are we briefing the president's enemies in advance of everybody else? Listen up, patriots. President Trump is dropping a $100 trillion bomb on the globalist. Jerome Powell's term is come to a close and he's installing a real America First Fed chair who will, according to Jim Rickards, slash rates and supercharge our reindustrialization. This is what one man is calling Trump's gift on America's 250th anniversary, unleashing a historic super cycle in American mining rare earths, uranium and gold. The same forces that turned $5,000 into over a million in less than five years during China's booms are hitting here now. Jim Rickards, the former CIA, Pentagon and White House advisor has the battle plan, the gold royalty stock that could skyrocket in the next few years and the uranium power for AI. Don't miss this. Go to rickardswarroom.com now for a risk free trial of Rickards strategic intelligence. Get all five free reports for just 49 bucks. 90 days to test it. Love it or keep the research and get your money back. This is your shot patriots. America is rising. Make sure you participate once again. Rickardswarroom.com for your risk free 90 day trial. Do it and do it.
MSNBC Anchor
Today Donald Trump appears to be taking his assault on the truth and democracy in American elections to primetime. Ms. Now is now reporting that Trump will deliver an address Thursday evening where he plans to unveil another round of lies about why he lost in 2020 to Joe Biden. This time claiming that newly declassified reports reveal foreign interference in that election that his own government didn't know about at the time. Lies that seemed conveniently obscure that he was the President of the United States. All of his hand picked people ran every facet of the government in 2020. His handpicked attorney General Bill Barr ran the Justice Department. His handpicked replacement for Jim Comey, Chris Wray ran the FBI. Both of them have repeatedly and publicly debunked these lies. If there was any foreign interference,
Foreign Policy Analyst
this
Stephen K. Bannon
is on exclusive reporting and they got exclusive reporting because they got briefed by the White House. Do we have Rhodes? Can I play the Rhodes thing? Rhodes sits right there after being briefed by the White House, briefed by the White House, senior officials briefed by the White House comes on Morning Joe and he calls it disinformation. Let's go and hear this. This, this was the guy they briefed. Let's go ahead and hear this.
David Rhodes
There's a whole of government effort that's just unprecedented of what's what, what they're doing. I have a list here I want to. So the acting director of National Intelligence pulte this task force that the President has created, they're going through thousands of pages of intelligence documents and they're going to start releasing them within weeks. It could be sooner than that. And they will essentially be looking for documents that back the President's conspiracy theories. And this is one element of what we're going to see between now and November. A constant flow of disinformation that tons of people who weren't citizens voted that
Stephen K. Bannon
there was maybe flow, constant flow, a constant flow of disinformation. So why did the White House brief this Guy. Why? Why? Before we go live with this information. And by the way, it's millions of pages and it's all there. It's fact. But you see right there they're sitting, they're framing this. They're going to frame this. This is President Trump. And another wild goose chase. This is President Trump. This gets to the railhead of one of the central problems in the country of why we're fighting these forever wars and how we're funding these, the fight of these forever wars and what's going to be done about it. We don't do anything about it. If we don't do anything about it, it's the deep state's going to win. This is why we have to, while we have the authority, we have to start to dismantle the deep state. Now, I happen to believe, putting in front of the American people the actual facts of foreign interference in our elections and the facts of what the intelligence agencies have either done to stop that, which is nothing, or have done to suppress the information that had happened, which you'll have to see with your own lion eyes. But why would you brief someone that would get in front of this and come out and say with Nicole Wallace and Rachel Maddow and all of them, all the whole mantra, you know, Melbourne, the whole crowd, Morning Joe. This is called framing it. But they got, and Nicole Wallace tells you right there on the screen, exclusive reporting. What does exclusive mean? They got a scoop. How did they get a scoop? How did he know his whole of government, how did he know what was going on with the task force? And how did he know what was going to be presented at the President's speech? How did he know that? Here's how he knew that. He was brought in and he was told. How's that sit with you? That sit well, that sound like a messaging strategy that you're going to, you know, fire off the football. Remember the great editor of the Wall Street Journal? I didn't agree with his economics or his politics, but he knew how to drive a story. He had two great sayings. This is Bob Bartley, Robert Bartley, that it ain't a scoop until you treat it as a scoop. Giving previous information was out there. And the other is that to drive a story, it has to have muzzle velocity. These were two watchwords that when I ran Breitbart, we incorporated. This is why Breitbart, when Andrew died and he did not live to see the magnificent site he had built the brilliant new site, but we were able to drive that to Astronomic lengths. Ben Shapiro said we turned it into Trump Pravda. Well, President Trump wouldn't have been president United States if he didn't have a media company that was prepared to really get in back of his theories, which were not neoliberal, neocon, forever wars of the traditional Republicans which are still amongst us. If you don't think it's amongst us, they're just counting down. They're checking off every day that President Trump's around. John Thune, who's treating President Trump as a lame duck. Why do I say that? Where's the Save America Act? Where's the Save America Act? Have we ever taken a recess? Have we ever given President Trump just the recognition that he is President of the United States and that the Senate trusts him enough and respects him enough, that Mitch McConnell and his CCP controlled wife would ever allow just the Senate to go on recess, a real recess, and not play this kabuki theater we do every couple of days where one senator comes in and gavels it in. Why is that? Because they don't want to go on recess. Why is that? They don't trust President Trump for what he would do with recess appointments. Why would you brief the greatest enemy right there this morning? And this is why I wanted to play it, the DEI hire of the New York Times, right, sat there and called the senior administration, members of the Trump administration who are trying to deal with a 20 million person invasion of our country, white supremacist and that the policies are white supremacist policies. Does that sound like somebody that's open for a debate about immigration policy? And is that somebody open for a debate? No, that is not. That's how they shut down debate. This is a game they've played forever. This is my point. There's nothing to debate. It's either going to be their way or it's going to be the way that saves this republic. And the way you do that, when you do all this work and you have Pulte and John Solomon have accomplished more in three and a half weeks than the overseers of the of the intelligence apparatus have done in years. What these individuals and their teams have accomplished is extraordinary. And you're going to see the CIA in all its glory. You don't think that ought to be cut in half or be cut in half. I think the whole thing ought to be eliminated it, rebuild it around what you really need. So what do you do? You brief your mortal enemy on what you're going to do so they can frame it. That's exactly what you. That's a winning strategy. That's a winning strategy. That's a winning strategy. Why didn't I think of that. Disgusting shrimp rope?
Political Commentator
We're united, strong and free.
Stephen K. Bannon
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Date: July 14, 2026
Host: Stephen K. Bannon
Notable Guests: Eric Bolling (Economic Analyst), Various Political, Economic, and Foreign Policy Commentators
This episode of Bannon’s War Room dives into two highly-charged, interconnected topics:
There are rich, animated debates about energy policy, U.S. position as a global oil “swing producer,” inflation and national deficits, and the tactical choices being made by both the administration and its critics.
Media Narrative Clash:
The episode opens with mainstream anchors and commentators previewing Trump’s scheduled primetime address, predicting a repeat of debunked 2020 election fraud claims aided by White House declassification of intelligence.
Escalation in Federal Agencies:
Recent firings and pressure on DOJ and the Federal Election Assistance Commission to “clear out” opposition to Trump’s moves in Georgia connect election integrity rhetoric with real shake-ups inside federal agencies.
Bannon Frames the Stakes:
Bannon contends that exposing intelligence community malfeasance is central, tying media skepticism to “deep state” protectionism:
Media Leaks and Narrative Control:
Later, Bannon rails against the White House briefing “media mortal enemies” (e.g., MSNBC, NYT) on sensitive intelligence, suggesting intentional narrative manipulation to undermine Trump’s messaging:
The Blockade and the Toll:
With the U.S. Navy blockading Iranian ports, Trump announces a 20% “service fee” on shipping through the Strait of Hormuz—described as necessary for “paying for security," but roundly criticized by mainstream analysts as contradicting decades of U.S. trade and maritime posture.
Strategic Justification:
Bannon, Bolling, and others debate the logic. Bannon frames it as pragmatic:
Economic Repercussions:
Bolling notes that although most of the oil isn't headed to the U.S., global prices are interconnected; a toll would drive U.S. prices higher, impacting domestic inflation and consumers:
Free Market vs. Mercantilism:
Bannon dismisses idealized "free market" objections, calling global oil mercantilist:
“Swing Producer” Argument:
Discussion on U.S. goals to dominate world oil supply, reaching “full energy independence” and influencing global pricing—echoes of the 2019 “energy dominance” policy.
CPI Drop and Oil Prices:
Recent consumer price index numbers show a sharp drop, mainly due to falling energy prices—ironically at risk as oil prices rise again with the Hormuz crisis.
Deficit Warnings:
Bannon spotlights U.S. fiscal distress (“deficits have finally caught up”), wondering whether the energy special fee is about revenue and cost shifting.
Trump Policy as Cruel/Strategic:
Critics describe the administration’s actions—especially on immigration, deportations, and removals of protections—as both ideologically extremist and deliberately divisive:
MAGA Movement, Media Framing:
Bannon frequently calls attention to adversarial media painting Trump supporters as “white supremacist,” using labels to shut down genuine policy debate:
Control of Narrative:
Much of the latter episode is devoted to arguing that briefing mainstream media on classified matters is an act of sabotage—deliberately framing the incoming intelligence as "conspiracy" and "disinformation" before it can be released.
Deep State Allegations:
Bannon argues that the entire ecosystem—DOJ, media, and intelligence—is aligned to block “America First,” and views narrative-shaping as decisive for the movement’s future.
Riffing on MAGA’s Mission:
Bannon closes by warning that unless the MAGA coalition stays focused and “dismantles the deep state,” nothing will change, and future elections (and wars) will remain manipulated.
This episode blends Bannon’s characteristic pugnaciousness with intricate economic, military, and political debates, challenging mainstream media narratives and calling for deeper loyalty among MAGA faithful. The tone is urgent, conspiratorial, and unapologetically polarizing. It’s a rallying call for “America First” priorities, selective transparency, and overt distrust of both bureaucratic insiders and media institutions.
Listeners are left with a sense of:
For those following Trump-era geopolitics, economic populism, and the deepening polarization of U.S. public discourse, this is an essential, if highly partisan, episode.