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Bannon`s War Room
WarRoom Battleground EP 733: Building Back A Christian Coalition; Congress Can Stop The H1B Chaos
WarRoom Battleground EP 733: Building Back A Christian Coalition; Congress Can Stop The H1B Chaos ...
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- [00:18]
Stephen K. Bannon
This is the primal scream of a dying regime. Pray for our enemies because we're going 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.
- [00:39]
Dave Brat
And where do people like that go.
- [00:41]
Natalie Winters
To share the big lie?
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Rod Martin
MAGA MEDIA I wish in my soul, I wish that any of these people had a conscience.
- [00:49]
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.
- [00:59]
Rod Martin
War ROOM here's your host, Stephen K. Banner.
- [01:03]
Stephen K. Bannon
FOREIGN.
- [01:10]
Rod Martin
Good evening, everyone. Dave Brat sitting in with a great Stephen K. Bannon. I've been watching the shows all day. Natalie Winters just teed it up. We've got a great show for you. We're going to hit gold. We're going to hit the Judeo Christian West. We're going to hit immigration hard. I'm going to start off and try to frame the economics. STEPHEN K. Bannon there's no one better at doing the geopolitics and the economics. But I'm going to run through some charts that I think connect all the dots, right? A lot of people are taking cheap shots at tariffs and this kind of thing, but they can't connect the whole story. So I'm going to try to give you one whole story for the first part of this segment with the data from way back, connecting everything from productivity to trade to tariffs to human capital to growth theory to the debt and money, gold, everything. And so get out your number two pencil and here we go. DENVER if you want to pull up the first chart, let's start off with a real long run. All of human history made a thousand dollars and all these charts are going to be at Bratt Economics on Getter and Brat Economics on X. So share them with your young people and have them follow these charts along with the video presentation. We're going over right now because it's key that everybody knows this. This is 1981. The two giant red balls are population weighted. So that's obviously China and India. They're only making about $1,000 a year. Back 40 years ago, the US and all those yellow dots to the right are Western European countries, also called the Judeo Christian West. That Judeo Christian west brought you a lot of nice things like science, freedom, human rights, democracy, only out of the Judeo Christian West. So it's very important. War room. The folks who think about religion, religion is not about saying you're the, you know, holier than thou or whatever. In fact, it's saying the other. It's saying we're all fallen, we all need help and we're going to structure government a certain way. So I'm not going to get into all that, but I just want to forward watch those two red balls as we go from 1980 all the way up to today. 2023, Denver. Next slide. There you go. China and India went from a thousand up to about 15, 16,000 to 25,000. For China, they are growing very fast. So this is the context that you'll never hear on any other program, right? This is why President Trump is doing what he's doing. I'm going to go over how China got there, what the US Is doing that's slowing us down. I think you all know, you all watch this show, you're all highly educated. But again, the probability of all those yellow balls according to Bradford DeLong of Berkeley, so I doubt he's a Presbyterian, right? So I'm giving you real data here over the long run Western trajectory. The probability of those yellow balls randomly being the richest countries in the world is 1 in 10,000 according to Berkeley. And this is everybody I'm giving you is the Nobel laureate winning economic growth folks for the whole show. All right, so now let's go into the more standard economics of today. Denver. The next chart here, I'm just covering this in two seconds, but here's the money supply. Fred, when you see Fred up there, that's Federal Reserve data. So you see anything that looks a little peculiar on that graph? There's M1 or M2 over the last 30 years. And all of a sudden there's a catastrophic blow up, right? All from the 0708 bailouts. The Fed takes an activist role. It prints money. Anytime the federal government wants to spend money, it validates and justifies all the government budget deficits. Two trillion a year. And there you see M1 and M2 just blowing up at the end of that chart. That's the Federal Reserve. They have not been audited yet by Doge. I hope Doge takes a good look at all the research economists who have goofed us all up, especially the middle class. Next chart, Denver. All right, there's the debt bomb, right? We're up to 36 trillion. We have more debt now than we did in World War II. Without World War II, of course, we have never ending wars. And Steve covers that brilliantly every day. But that's in the we've covered that pretty sufficiently. So I want to get to the tariff story coming up next. Chart, Denver. Here's the the untold story on the mainstream media and here's what President Trump is trying to correct. And I'm all with him on this. The graph on the left is the US Trade deficit, goods only. And of course, it's blowing up over time. It's getting bigger and bigger and bigger. As you look at that chart, right? That's the size of the deficit, right? So we are not producing and exporting. We're importing consumer goods and spending on consumer goods. The rest of the world is making stuff. And traditionally in economics, you say, okay, that's fine, you know, we're consuming stuff and that makes us happy. But it turns out that innovation and research and development and capital equipment and all of those things necessary for a successful economy are very correlated with manufacturing. And when you have deficits of that size ongoing, and that's where Lighthizer is very good. Make sure you go watch the Tucker interview with Robert Lighthizer. He is brilliant, does a great job. I think just a few days ago. Go see that. Now look at that on the same chart there. Look on the right chart and you'll see something very peculiar. When Trump comes in on the right side, the pink side, you have huge deficits continuing. You can't turn it around in a year. But then the trade deficit goes down, down, down, right? As you see those black bars getting smaller and smaller and smaller, Trump is making real inroads on the trade deficit and he is today as well, right? Capital equipment is coming screaming into this country and Stephen Bannon covers that every day. You know, 100 billion from Taiwanese chips, etc. And so next chart. And again, let's see anybody else tie all of these charts together, give a comprehensive story of how this all fits together. So now you hear stories on Mexico and Canada and China. Why is the US Doing this? Well, on the far left graph, there's the Mexican trade deficit of the United States, that Mexico's trade surplus. It says on that graph, same thing, their surpluses are deficit and it's growing, growing, growing. So as Lighthizer says, it's not just having a deficit in the year, it's sustained deficits over time. The middle graph is Canada's trade balance with the US Blowing up lately, the deficit with Canada on the far right, I don't know if you can read all those, but blow that up with you can up at the top, US Runs trade deficits with most countries. Again, lighthizer, that's the problem we're having here, right? It's, it's not a deficit with one country or another. We have trade deficits with everybody. And as I told you, all those nice properties go along, research and development, productivity, manufacturing, they're all tied together. And so we cannot continue down this path. And I'm glossing over, you know, we've gutted our manufacturing system in the United States. I think you all know that we've gutted the wage rate for American workers because they're not working with capital anymore. And we'll get to that story coming up. Here's a few more charts. Denver, next slide here. Okay, on the far left, you may not know trade is not a huge part of the US economy. That little purple sliver is US imports. It's 14% of our economy. Now that's going to be in stark comparison with some of the other countries you're looking at. If you look at the middle graph there, we're comparing trade openness, trade as a percentage of gdp. The US Is relatively small, as I just showed with that little purple bar. But then going down, Mexico is much bigger percentage trade. European Unions down in the middle, China's bigger than the US And Canada's down there at the bottom. Trade makes up 60% of their economy GDP. And so what's that related to in the news lately? Well, if you're Canada, you know, they're saber rattling and their politicians are talking a big game. They're beating their chests. I don't think that's really a smart idea on their part. Right. When trade 60% of your economy and only 14% of our economy, and we're a massive world power, if you're just using common sense, that makes no sense whatsoever. I think this is part of President Trump's problem with some of the attitude adjustments around the world. We've been paying for the post World War II liberal world order, protecting the seaways, providing trade, providing military protection for everybody. And all we're saying now is we want reciprocal tariffs, right? We just want an even playing field. And Lighthizer, by the way, goes through three options there and they're very sophisticated. He covers them, just very common sense. But he says in order to deal with the tariff and non tariff barriers, which I'll cover in a sec, you're probably better off just using tariffs until we get this story straightened out. And most of these charts are showing you what that means. The far Right graph is Canada. Canadian exports to the U.S. up there on the top is a percentage of GDP up at 19%. Right. Canadian exports, the stuff they send us, 19% of their economy. Down at the bottom you can't even see, it's a little blue line. That's our export percentage to Canada. So if we get into a trade dispute, we kind of, again, they're not whoever's advising their trade folks to be yelling and blustering at us. Not too good of advice. At the bottom, we're down there at 1.7%. That's 1.7% of a huge number. But I'm just trying to show the leverage that Canada has on us. It's not good. The next chart is probably one of the most important in this tariff debate in addition to the deficit story. And you'll see arguments out there, pros and cons. But I'm trying to lay out the charts that make sense of this thing. Here's free trade for the G20 countries. So these are the rich 20 countries and these are the tariffs in the dark blue. And then the non tariff barriers, the way they exclude US goods from coming into their countries. Down at the bottom, the lowest tariff rates and the lowest non tariff barriers. So the most free trade country is the United States of America. Right. So we're the good guy, we've been helping everybody and we're just not here in the right tone coming back from the rest of the world. And so as you keep going up, there's Mexico, Japan, Indonesia, Canada is quite a ways up. If you look at Canada, they're two to three times tariff barriers against U.S. tariff and non tariff barriers. Most all those countries are at least 200% or 300% higher tariff and non tariff barriers against us. So when President Trump says we're going to do reciprocal tariffs, he's spot on. And you know, just interestingly, you know, all these countries have much higher tariffs. And so when the left is going apoplectic and getting hyper about, well, this is going to destroy our economy. Well, look at China up there. They have three to four times the tariff barriers, tariffs way higher tariffs, way higher non tariff barriers against us and they were growing at 10%. So dear far left economists, Financial Times, Wall Street Journal, could you please get your economist to explain this to us? America first types, because we're dying to hear it. Next one. Now, how does all this trade story apply to our lives? On the far left there you see the service industries kicking up. We do have high value added, high wage, high salary Services, lawyers and doctors and dentists and etc. The IT fields software, engineers, etc. Right. But as we've shown on the show numerous times, the distribution of income is stark. And so a huge part of the decline of the middle class is that black line industry manufacturing. It's going up until guess when, about 1960. And then down and then on the Far right again, U.S. manufacturing jobs, you can see a massive decline starting at about 2000. It started before that, right. With opening up to China on the world trade front. But the US Manufacturing jobs on the far right dropping precipitously. In the darker blue chart, you can just see them going down, down, down. Next chart, Denver. Sorry, I'm going fast through this, but I hope you will all get at this and train in the next generation. Share these charts with the folks you know and share the war room because this stuff is just crazy crucial. I'm going to skim over a little of this. But our manufacturing data also in investment data, this has been lost in translation. But the national accounts, the bureaucratic state has been adding everything in the way they calculate what counts as investment. This will not shock the war room, but it may shock your neighbors when they buy in. The average business person I don't think knows some of this stuff. But the green energy stuff, the green stuff Biden was proposing that all government spending, all government jobs, they count that as investment. Now is capital investment. And it's not free market driven, it's not return on investment driven. It was all politically driven through friends. And you're seeing that the DOGE is showing that corruption. And so I just wanted to put that up there. But at the bottom you see the value of manufacturing China is that if you look down at that number four and a bunch of numbers after that's four and a half trillion dollars manufacturing output in 2023. The US is only at two and a half trillion dollars in manufacturing output in 2021. I think the last year they had data on that in that setup. And so China's clobbering us in manufacturing and that goes along with capital investment and research and development that I said earlier has all those nice properties. And I'm going to cover that in a minute. Next chart, Denver. We've gone over this. I'm going to go over this one pretty quick. The jobs reports, you know, have the jobs data have just been grossly overestimated during the Biden years. So they said 200,000, 250,000 every month. If that was the case up at the top you can read this and cover this later if you want. That would approximate 12 million new jobs we should have had during the Biden years. Right? If all those job reports were accurate, they had an 850,000 job revision, oops at the Labor Department, et cetera. And so the full time jobs, it turns out, is only one and a half million over four and a half years. One and a half million jobs, new jobs over four and a half years, not 12 million. If you would have followed the data and the bottom chart there shows you that 41% of those new jobs were government. The next charts I have said are the most important charts. I've gone over these a thousand times on the War room with all of you. This is Bob Gordon, Northwestern University. Again, I don't know his politics, but I doubt he's a war room America firster. This has been his Life's work for 50 years. He's well respected in the macro profession by everybody. So these data, and these data are also Brookings. So this is not right wing.com data for you lefties watching the show. Here's productivity down for the last 70 years, right? If you start in the top left and just go down, you used to have 5, 6, 7 in the middle you had 2, 3, 4. Now you have 2% productivity and it's up a little bit the last few quarters. I hope there's something good going on, but the researchers at the Fed say there's not enough evidence. You have to say there's a long term change in trend. So US Productivity, the amount of stuff you make per hour going down for 70 years in a row, what's that get you? Next chart, Denver. I'm going to go through these real quick. I've gone over these 100 times. At the far right, overall productivity from 2022 to 2052, way out. What is the. I think this from CBO, Congressional Budget Office. Yep, that's what it says. Up at the top, 1.7% productivity growth is what you should expect. And so that would also suggest GDP growth probably at about 1.7 or 2%. Next chart, Denver Federal Reserve two weeks ago comes out and says, oh, we got to downgrade the growth report. We're down to what number was I just saying? 2%, 1.7%. And the Fed comes out two weeks ago and says down to 1.7%. So the long term trend in manufacturing tariffs, China, the US Everything results in the same story. That's what I'm trying to show here. Everything's the same story. Next chart, Denver. Here's just confirmation. CBO, real GDP growth at 2% for the next 30 years. I think I'm going to gloss over the next one. Denver. Go forward one. So there's the distribution of income. The rich own everything. You know that. Next chart. I think I'll just close on this one because I want to bring in our next guest who I think is ready to roll this. How do you solve it? Okay, Dave, you keep giving us the Eeyore story. The sky's falling. Top graph. That's China. That's China's growth in their capital stock. Not financial capital, but capital stock. They're at $100 trillion in capital in their hands. It's going straight up like a rocket ship. Right, right. Exponential growth. The graph underneath that is the United States of America. We're slowing down. We only have 70 trillion worth of capital to work with. Guess who's solving that problem. Guess who's bringing capital back to the United States of America? President Trump. And so I think I'm going to end it there. I had a few more charts, but I got a superstar I want to get on with us right now. And his name is Rod Martin. Rod, are you with us?
- [20:49]
Dave Brat
Can you hear us here?
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Rod Martin
All right, brother, very good. Rod Martin is a business all star in his own right. He was one of the original folks back at PayPal, lawyer, very intelligent guy. He's got a. I hope he'll share his blog and media with you when we close in this segment. But I wanted him to come in also on the Baptist Convention. And first of all, he'll start off and just tell you how big, why it matters for politics in this country. And so I'm just going to let him take it from there. Rod Martin, the floor is yours. Give us a little overview of who is the Baptist Church, the Baptist Convention, what does it mean to the success of the United States of America?
- [21:32]
Dave Brat
Well, very briefly, before I get into that, I just want to commend you for everything you were just teaching your audience. You're so right. And I just wrote an article about this@rodmartin.org called the Free Traders Case for Trump's Reciprocal Tariffs. So we are completely in sync on that. The Southern Baptist Convention is the largest Protestant denomination in the United States. And believe me, the left knows it. Sometimes the Christians don't fully realize what that means, but the left understands it flawlessly. The Southern Baptists have a big 13 million members, which isn't that huge a number. It's about 5% of Americans America's Christians. But it has six seminaries that educate one third of all the seminary students in this country, which is just extraordinary, unbelievably disproportionate. And of course, Dave, you're at liberty, and you guys have a huge seminary too. But the bottom line is that Southern Baptists steward these things, not just for themselves, but for countless other denominations. I had a Lutheran call me from Texas a couple years ago and say, we are so completely praying for you Southern Baptists trying to keep the woke out of these seminaries, because my pastor was actually educated at the Southern Baptist Theological Seminary in Louisville, Kentucky. You affect all of us. And that's absolutely true. So the fight for the SBC against the WOKE infiltration that you see in every other institution is absolutely vital if you want to make sure that the pulpits are faithful in 10, 20, 25 years.
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Rod Martin
Right, right. Good. Some of the churches have been getting passive. My own view is that a lot of this is related to just lack of theological understanding. They haven't read the the Bible in full. The Christology is kind of aimed at Jesus only at 30 A.D. not knowing that Jesus is part of the Trinity, preexisting with God the Father, and was with God the Father through all of Israel's kings and prophets and judges, etc. And these days, Jesus is. It's kind of like your buddy. You go out and get a Starbucks with him. But even when I read the Gospels, you don't need to go to the temple and tables. He's very austere and tough, even on his closest disciples. And so why is it that the Baptist Church has so many folks going woke and getting soft? And it's, you know, across the spectrum, it's the Presbyterians. I went to Princeton Seminary, and it's the Catholics. What's going on?
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Dave Brat
Well, it's everywhere at once. The left has been very deliberate about subverting churches because from their point of view, they have the major news media, they have the universities, they have the public schools, they have your movie screen. From their point of view, a pulpit is just one more screen. And a huge percentage of Americans are sitting in front of that pulpit every single week. If you could influence what they're thinking from that pulpit, it's transformative for the socialist cause. So that's what they're doing now, I have to say. And of course, as you know, I'm a recent officer of the executive committee of the Southern Baptist Convention, so I know a preacher or two, and I can tell you most of the Baptists in the pew are perfectly fine. I mean, they may or may not be deep from a Christian perspective, but they believe the right things, they are in the right direction. They haven't been affected by this tremendously, but an increasing number of their pastors are. And that problem in the seminaries has to be addressed.
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Rod Martin
Yeah, good. About a minute to go till break. Rod, how do you fix it? What's the fix?
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Dave Brat
Well, in Southern Baptist life, it's just being involved. We control all of our boards of trustees at the annual meeting by elections. So none of these people have to be there and they can all be dumped if they need to go. So Christians in Southern Baptist churches in particular need to turn out to the annual meeting every year. Really every year. It's staggered, so it takes a few years to turn over a board of trustees, but it matters and it's important. We steward $12 billion in giving every single year. That needs to be in the hands of the faithful.
- [26:18]
Rod Martin
Good. 45 seconds. Rod, what's Christians place in the, in the politics?
- [26:25]
Dave Brat
The Christians place is everywhere. You know, the idea that there's some kind of separation between, between government and God is just foolishness. Of course the government should not be establishing churches, but churches should be involved in their civic life and in every sphere. And we absolutely have to get back to a culture where that's self evident.
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Rod Martin
Great. That's Rod Martin. We're going to have him on many more times. Rod, stay with me after the break for a minute. I want you to share your full social media and how people can learn about what you're trying to share, not just for the Baptist church, but for the entire Judeo Christian West. Rod Martin. And we're going to break hold. Hold over with us. We got a couple great guests coming at you.
- [27:16]
Stephen K. Bannon
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- [30:52]
Rod Martin
War room. Here's your host, Stephen K. Banner. All right, welcome back to the War Room. Dave Bratt sitting in for the great Stephen K. Bannon. All political views are my own. We have Rod Martin in. He's gonna give us his social media. Rod, any closing comments for a minute and then your how to how do folks reach you? And Rod is prolific, by the way. Every day he's putting out really good stuff. So, Rod, share the links.
- [31:22]
Dave Brat
Well, we'd love to have Everybody come to rodmartin.org that's rodmartin.org we offer geopolitical, economic and technological analysis every day in depth from a Christian worldview. There's Nothing else like rodmartin.org on the Internet and you really want to be part of that. Also, you'll notice up in the corner of that screen you can reach my ex. We've grown by about 100,000, 150,000 followers in the last two months. There's a reason. So go to rodmartin.org and also click on the link for X. Yep.
- [31:58]
Rod Martin
Rod, thanks for all you do for the church, for the Baptist, for the country. God bless you. Thanks for being with us.
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Dave Brat
Thank you.
- [32:06]
Rod Martin
All right, folks, one of my longtime friends, one of if not, I'm not saying this right, you know, I was in a severe fight up in the swamp. One of the people I relied on in, in this when it came to the immigration sphere is Rosemary Jenks. Rosemary, welcome to the program. Why don't you start off, tell us your the organization you're with now, what you do and then some of the bombshells you're working on right now.
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Rosemary Jenks
The Immigration Accountability Project. And we're a new organization. We need all the help we can get. Our website is iaproject.org we are working to hold members of Congress accountable for their actions. We're trying to support the Trump administration in everything it is doing to seal the border and deport illegal aliens. We are also focused, however, on reducing legal immigration. And while I can tell you that the border numbers are down to historic lows, which is wonderful, and we're deporting criminal aliens despite the court orders that are trying to block this. We do, however, have a crisis on our hands with legal immigration and especially for our high tech workforce, American high tech workers are at their wit's end right now with the massive numbers of H1Bs and L1s and various other visas coming into the United States and taking American jobs. American STEM workers are actually blocked from getting American jobs by the sheer number of These foreign workers. And I want to say to your audience that our friend Paul Gosar from Arizona has introduced a Bill called. It's HR 2315. It's called the Fairness for High Skilled Americans Act. And what it would do is eliminate the OPT program. The optional practical training is a program that was created by executive fiat under the W. Bush administration and it has no basis in law, but it allows hundreds of thousands of foreign graduates from American universities to get US Jobs. And employers are actually subsidized to hire these foreign students over Americans because they don't have to pay Social Security taxes for these students. So this is a government subsidized program that displaces American college graduates. It is absurd. And so God bless Paul Gosar for introducing this bill, HR 2315. Please, please, please call your members of Congress and ask them to support this bill. This is the very least we need to do to stop the pipeline between foreign students and H1B visas that are decimating our American tech workers.
- [35:10]
Rod Martin
Yep, Very well said, Rosemary. Do you have that information posted on your website? And if so, tell people how they can find that piece with Paul Gosar. He's a great guy, great friend of mine in Congress, and a great leader on immigration.
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Rosemary Jenks
He's amazing. We have a member accountability page on our website that tracks every immigration bill that every member of Congress introduces. So you can find his bill under his name if you just, you can filter by his name or Arizona. We also have fact sheets on our site about the OPT program and about the H1B program and various other visas that are taking American jobs. And you know, we have to be clear here. We can't blame the foreign students or the H1B visa holders. The blame lies squarely with Congress because Congress sets immigration law. Congress is the one who set up this system that is being exploited and abused to harm American workers. And it needs to end.
- [36:12]
Rod Martin
Yeah, I agree with you, Rosemary. I'm going to add a little caveat because I was in there too. So I blame the Congress folks who are voting terrible. They're not voting for the American people. They're voting for rich, rich elites. But I do hold the American people responsible as well on this because they keep putting these elitist, terrible immigration policy folks in office. And so perhaps you could tell us a group that tries to hold these politicians accountable on immigration. Is there such a group out there?
- [36:46]
Rosemary Jenks
There is.
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Rod Martin
And how do you do it? How do you do it?
- [36:49]
Rosemary Jenks
Yeah, it's called the Immigration accountability project@iaproject.org and what we are doing is calling out members of Congress publicly for their votes.
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Rod Martin
Good.
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Rosemary Jenks
Just this week, several Republican members of Congress had a press conference with several Democrats to talk about the need to pass an amnesty. I mean, it is astonishing in this day and age that Republicans are still supporters of cheap labor. It's crazy. And yet these Republicans, Maria Salazar was leading the way and they wanna pass amnesty because who's gonna mow your lawn? Who's gonna clean your toilets? I mean, it's the same old thing that who's gonna pick your cotton? This is crazy. Republicans should be doing better and American voters have to hold them responsible. So our purpose is to make sure that you, the voters know exactly what your member of Congress is doing so that you can tell them, no, this will not fly. We will not have this anymore. It's time to put American workers first. If America first means anything, it has to mean Americans first.
- [38:05]
Rod Martin
Yeah, spot on. And so, you know, if we get the information you just listed in the hands of the American people, I think they will vote the right way. I don't, I don't. You know, it's like Steve O. Says, low information voters. It's nothing against the workers. They're taking care of their family, they're shopping, they're doing sports with the kids, they're going to church. But we need to do a better job. How can the folks listening be force multipliers and spreading the word on your group? Can they write op EDS and share the basic information you have posted? How can they share it with people that may not watch the war room?
- [38:42]
Rosemary Jenks
One of the best things that people can do is actually download the fact sheets that we have on our website on the resources page and share those because we need to educate more Americans on the damaging effects of what these visas actually do. And also every one of the fact sheets has recommendations both for the administration and for Congress on how they need to fix these programs. So sharing that information is key. We also have a fact sheet on the entire legal immigration system that shows all of the green card categories, the permanent legal residents, and also all of the temporary worker categories. And you will be astonished if you look at that page because there are far more guest worker programs than anyone ever thought.
- [39:32]
Rod Martin
Yeah, in closing, Rosemary, just give some of the gross numbers to motivate everyone again. Over the Biden years, how many illegals entered the country?
- [39:41]
Rosemary Jenks
Probably around 10 million entered the country we have right now. The foreign born population as of January was almost, I think it was almost 48 million people at over 15% which is the highest it has ever been, including at the turn of the 19th century during the great wave. We are now higher. We are at historic highs. No country has ever survived this kind of foreign influx without severe and often permanent damage. So it's time to bring this under control. It's time to reduce mass immigration. Mass immigration is a thing of the past. We need to recognize that and we need to protect American workers.
- [40:30]
Rod Martin
Yeah. And we're seeing the empirical evidence. I covered some of the economics across the board. But Europe is dying for this reason, cheap among them. And so I encourage everybody, if this is your issue, there's nobody better. Rosemary Jenks, she's the activist on Capitol Hill. When she comes to the offices, the folks squirm, right? They're busy taking checks. Right. Half of them are busy taking checks all day. And they're not held accountable. That's got to change. Right. The only way that's going to change is if you, the American citizens, and I know you're overworked and Steve's got you manning the walls every day, right? And calling into the Congress and the senators on the budget and all sorts of issues. But immigration is one of the big three, right? It's the endless wars, the budget, inflation, et cetera. And then immigration. It's in the top three concerns of the Trump agenda. And so please help out Rosemary. Rosemary, in closing, where do they get you one more time and how can they support you?
- [41:26]
Rosemary Jenks
Iaproject.org is our website. All of our social media is linked through that. We're very active on Twitter and YouTube and Instagram and all of the others. So we hope that everyone will support us. Download the fact sheets, share them with everyone you know, and call your elected officials. This is our country. We have to save it. It's up to us.
- [41:48]
Rod Martin
Yep. And that will save the country. Rosemary, God bless you. Keep up the great work. Thanks for being with us.
- [41:53]
Rosemary Jenks
Thanks, Dave.
- [41:55]
Rod Martin
You bet. All right, folks, so we're gonna do a couple ad reads. I kind of got derelict in my duties. I got rusty. I haven't been co hosting the show enough. Denver, can you put up Birch Gold? Our good friends at Birch Gold, we got the gold guy coming in. Kevin Freeman's next up and he's doing some great stuff for our country when it comes to gold in the States as a currency, a legal tender currency. Birchgold.com Bannon or text Bannon to 989898. You all know Philip. He's. He's been around on the war room forever. They are doing some great Work. We don't give investment advice on the. On the war room. But in times of instability, which we're living on. Birchgold, you call them up, get their counsel on why gold can provide you some stability in these rough times. Also, rickards.rickards war room dot com. Make sure you look up Rickards. He's great on the economics and the geopolitics. Steve loves having him on as well. And finally, another one of our supporters every day is Jace Medical J A S E promo code Bannon. Jace Medical J a s e.com promo code Bannon. Now you see these guys supporting their war room. Please support them. They're on explaining the product, the safety, the pharmaceuticals are monopolized around the world. Jace Medical j a s e.com promo code Bannon gives you some confidence with those monopolies of pharmaceuticals abroad. Get yourself prepared just in case. With that, we're going to my good friend for many, many years, friends of Rod Martin, also Kevin Freeman. He's got a book called Pirate Gold. Kevin, I'm just gonna let you get right into it. What are you doing? What are the most important things you're working on that are gonna help save this republic when it comes to gold? Kevin?
- [44:01]
Natalie Winters
Yeah. All right, thanks, Dave. A couple of things. One is Rod. Yeah, I spent the weekend with him. I went to church with him. He's a great friend, a great guy. Rosemary watched her, have known her for a long time as well. She's fantastic on immigration. Thank you for highlighting her excellent work. What we're working on is one of the top initiatives, which is inflation. And inflation comes not because prices are going up, but because the buying power of the dollar is going down. In my lifetime, just Since I was 10 years old, the dollar has lost 90% of its purchasing power. And it's caused this incredible wealth gap that we're experiencing. I mean, if you threw a chart up with M2 and the top 1/10 of 1% of the wealthiest people in the world, you would see that they go in tandem. The more money we create. You're an economist, Dave. You know the Cantillon effect. The more money we create, the people closest to the money being created tend to make money from it. But the average citizen get hurt by inflation. And so you see the bottom 50%, the bottom falling out. They've lost wealth over time.
- [45:04]
Rod Martin
So that's go over that one main effect. When you said since you were born, you've lost 90% of your purchasing power. People are going to say, he's exaggerating. What's the evidence for that. It is true. What's the evidence?
- [45:18]
Natalie Winters
Well, the consumer price index, you can look at that or you can take a Hershey bar. When I was 10, 10 years old, I bought a Hershey bar for a dime. Go buy a Hershey bar. It's going to be $2, $3. That's what happened to our money. And it's on McDonald's cheeseburger. In the last five years. Just think about this. In the last five years, the average cost per person at a fast casual restaurant in 2020 was about $10 a person, $40 for a family. Today it's $60 for a family of four, $15 a person. By the way, during that same period, the gold has increased by an equal 50% fact. Gold hit a new all time high today. Gold protects purchasing power. And you can see that if you put a chart up that shows the US federal debt and we're now almost 37 trillion and then match it with the gold price over the same period. And while the gold will go up and down over the long term, it matches the trend line of the US federal debt because we print too much money. When you print too much money, the net result is the value of that money goes down. So the article in the Constitution, the founders put article 1, section 10 and I'll read it, it says no state shall make anything but gold and silver coin, a tender in payment of debt. So I wrote the book Pirate Money to explain how a state can make gold and silver money. And one of the states, Utah, passed a bill, HB306, put it on the governor's desk. It was bipartisan legislation. I mean, it passed unanimously in the house and only four dissenting votes in the Senate. So it was 93 to 4, 4 overall bipartisan, lots of Democrats, lots of Republicans. And you know what the governor did last night? He vetoed it. He vetoed it because he says he doesn't want Utah to be leading in this. He vetoed it and said he regrets last year's bill that Ken Ivory passed which said that the state rainy day fund could invest in gold. Well, guess what? They did invest in gold at $2,300 an ounce. It's $3,100 an ounce today. And they've made all this money and the governor regrets it. That's Governor Spencer in Utah. Get on the phones and call him and tell him that you disagree with that. And then call your Utah legislator, tell them to override it because they should overwrite. This is the first bill in history That I know of that a majority and unanimous vote from the party of the governor voted for something and then the governor vetoed it. I've never heard of anything like that before. It's just crazy. But we have bills in Kansas that have passed the Senate, going to the House, that was Mike Murphy passed his bill in Oklahoma. It's passed the House, House and it's going to the Senate. In Florida, it's in the middle of it. I'll be back in Florida, meeting with the governor staff and the Senate Banking Committee on Monday. I was there all last week. And in Texas, we just had a hearing in the, in the Texas State Affairs. And what this will do if we pass this legislation, it'll make it possible for individuals to hold gold and silver as money and buy as little as a penny's worth or a million dollars or $10 million, hold it in the form of real gold that's vaulted and protected and defended, and then they can spend it with a debit card. All of this is explained in my book, Pirate Money. It works. The technology is here. The legislature wants it. They had a vote on this in Texas. They said, do you want this? And it received. 76.5% of Texans voted in favor of 1.6 million. Texans said, yes, I want that. And of the 23% that voted against it, we've talked to a bunch of them. They said, well, I just didn't understand it. I want that. I want to be able to spend gold and hold my money in the form of gold. Poor people can't normally buy gold. It's difficult to buy with this. You could hold it like a checking account and spend it like a debit card and you could have a dime's worth, $10, $100, $1,000. You can put $5 a week aside in gold and you could have that, preserving your purchasing power. This is the new form of money. We've taken it to the President. We got a thumbs up from him casually. We hope to get him to put an expost or a tweet out that's saying we should do this. President Trump, if you're watching, and you ought to be watching, this is a program you should do.
- [49:30]
Rod Martin
Yeah. So let's simplify this just to get so people can picture it right. So over the Biden years, people lost about 20% of their purchasing power. Right. 9% in one year. Inflation was 9, then 5, 4, 3, 2, whatever. So 20% of their purchase. If you would have had gold and you had gold in an account and then you, you're hooking up. Tell people that you can actually do this today. There's. How do you make it transactional with that credit card so you can hold gold. Use that gold base as your currency. Use your credit card to go make purchases. How's that work?
- [50:05]
Natalie Winters
Yeah, actually it's a debit card and there's a commercial application called Glint. I use Glint, but there are others, Kinesis and others that are developing this. Let's just imagine it's 2020, you, family to dinner, and it costs you $40. And then you put some money in gold so that five years later you ought to be able to take your family. It took 1/50 of an ounce of gold to pay for your dinner in 2020. It takes 1/50 of an amount of gold to pay for your dinner in 2025. So that's $60, or 1/50 an ounce, 3,000 divided by 50. But here's the problem. If you do it using this commercial application, you've actually invested in gold. And then you have to pay capital gains tax on that sale or when you use it. Now, fortunately, your sponsor, Birch Gold, they've got ways you can avoid the taxes, putting it in IRA and so forth like that. But for spending money, you're going to have to pay tax. If you put a debit card offer together, then you can just go spend it. You just take it on a MasterCard. I caught Marnie, my wife, she was buying stuff on Amazon. I said, why are you spending it on my gold card? I was being paid for in ounces of gold. It's easy. It's a debit card. It's easy to do. You can learn more@economicwarroom.com transactionalgold.com that's it.
- [51:26]
Rod Martin
Now, Kevin Freeman, what he's saying is real. Get his book, Pirate Gold. He spent money many years. I didn't introduce him properly. He's long time ran major funds expert in the field. Good friend, ethical friend. So look at pirate money. Kevin Freeman. Thanks for being with us, Kevin. All right, folks, I'll be with you again soon. In the meantime, keep up the fight and share the war room with all your friends. God bless.
- [51:57]
Stephen K. Bannon
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- [53:41]
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