BREXIT BETRAYED BY GLOBALISTS, IMMIGRATION FLOOD DOOMS UK | WAR ROOM AM W STEVE BANNON | JUNE 23, 2026

Summary

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Podcast Summary

Real America’s Voice | War Room AM with Steve Bannon
Episode: BREXIT BETRAYED BY GLOBALISTS, IMMIGRATION FLOOD DOOMS UK
Date: June 23, 2026
Host: Steve Bannon (with Steve Cortez, Eric Bolling, guests)

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Episode Overview

This episode, marking the 10th anniversary of the UK's Brexit vote, spotlights how globalist interests within the British and American political establishments have, in the hosts' view, frustrated popular movements toward national sovereignty. The conversation explores Brexit’s unrealized promises, the continuing pressures of mass immigration in the UK, parallels to nationalist-populist struggles in the US, and the implications of international finance and military policy. Special segments highlight the current state of global markets (notably the SpaceX IPO downturn), the Iran peace negotiations, and broader reflections on American independence and contemporary challenges.

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Key Discussion Points & Insights

1. Brexit: 10 Years Later – A Betrayed Promise

• Brexit’s Anniversary Context ([04:47]–[07:00]):
  The show opens with a reflection on Britain’s 2016 “leave” vote, highlighting public disillusionment with unchecked immigration, globalist economics, and loss of national sovereignty.
  Quote:

  “The central reason that the British voted for Brexit was not simply the rules and regulations coming out of Brussels... the central issue was unchecked immigration, that to get your sovereignty back you had to actually define who was a citizen and who was not.” — Steve Bannon [06:50]

• Globalist Sabotage & Tory Failures:
  The hosts repeatedly argue that the British political establishment, including the Tory party, never intended to fully implement Brexit.
  Quote:

  “Brexit has not been implemented in the 10 years and the bulk of that was under the Tory party... the established order in Britain, are globalist. The Tory party is being probably worse than Labour.” — Steve Bannon [08:00]

• Nigel Farage & Shifting Political Lines ([04:00]–[05:30]):
  Citing the rise of Nigel Farage’s Reform UK, Bannon and commentators describe Britain’s political realignment on lines of anti-globalism and cultural anxieties about immigration and race.

• No Clean Exit, No Clean Return:
  The show refers to Martin Wolf (FT), acknowledging the difficulty of undoing Brexit or rejoining the EU, and considers a “Swiss-style” treaty arrangement as a third way, though cast as suboptimal.

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2. Immigration Floodgates & National Identity

• Immigration "Flooding" Narrative: The primary grievance is the claim that Britain’s borders remain porous, with millions of new arrivals since Brexit.
  Quote:

  “I think, I believe under the Tory rule... 8 or 9 million, 13 million overall for what the Tories did. But I believe it’s 8, 9, 10 million that have come since Brexit... the battle’s already lost, the war is already lost because you’ve already allowed too many... into the country.” — Steve Bannon [07:22]

• Broader Populist Disillusionment:
  Host draws parallels to US political disaffection, referencing MAGA’s struggle to achieve meaningful immigration restrictions or mass deportations, blaming Republican Party inertia.

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3. US Politics & Sovereignty: The MAGA Analogy

• Trump & MAGA Agenda Roadblocks ([10:50]–[14:40]):
  Bannon argues the Republican establishment is obstructing both Trump and core MAGA initiatives, especially mass deportation and policies to combat sanctuary cities: Quote:

  “The Republican Party has not wanted to implement any of President Trump’s, any of the MAGA, any of the MAGA solutions. The Senate is treating President Trump as a lame duck, worse than a lame duck... There’s noticeably... a lack of enthusiasm.” — Steve Bannon [12:35]

• Sovereignty—Israel & America ([13:10]–[14:40]):
  The episode covers US-Israel defense ties, insisting Israel should fight its own wars, with America selling arms but not participating directly:
  Quote:

  “Israel has to be its own independent nation. Can no longer be a vassal state and a protector of the United States... go fight in Lebanon, go fight in Syria, take on Hezbollah, take any on, anybody you want. You’re free and independent nation, but we can’t be involved in it." — Steve Bannon [14:09]

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4. Geopolitics: Iran, Oil Markets, & Economic Leverage

• Iran Peace Deal Skepticism ([21:24]–[29:48]):
  In an extended conversation, Eric Bolling and Steve Cortez express doubt that Iran will honor peace deals and criticize moves to release funds that could provide economic relief to the regime.

  • On Economic Pressure:

    “We have a very strong economic warfare structure in place... but you can’t send pallets of cash to them. It is going to looks like now into an escrow account only to buy U.S. foodstuffs... But... feeding a starving population... more they starve, the more they’re going to overthrow the theocracy.” — Steve Cortez [22:54], [23:16]

• Oil & Insurance Market Realities ([23:50]–[26:34]):
  Eric Bolling analyzes the oil market’s muted reaction to official numbers, highlighting how war risk insurance premiums and shipping realities drive global oil flows more than military maneuvering.

  • On Iranian Reliability:

    “The important part here is what are the Iranians going to do? Steve, this whole thing is predicated on the Iranians holding their end of the bargain. They’ve never done it... I think China is going to come out smelling like a rose and so is Iran.” — Eric Bolling [26:34], [27:21]

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5. Market Turmoil: SpaceX IPO Meltdown

[36:13]–[43:53]

• SpaceX IPO Criticism: Bannon and Bolling dissect the rapid drop in SpaceX stock post-IPO, pointing to tech hype, retail investor risks, and institutional rigging.

  • Explanation of "Breaking the IPO":

    “Breaking your IPOs... they want to find the right price that creates enough demand... Google was too high... slammed through the number down below and that’s called breaking the ipo. It’s a bad sign. No one wants that to happen.” — Eric Bolling [36:52]

  • Valuation Collapse Context:

    “In two trading days it went from 225 down to 147. Ballpark. That’s 900—almost a trillion dollars...wiped out... more than the GDP of Turkey, Saudi Arabia or Switzerland.” — Eric Bolling [38:19]

  • Institutional "Rigged System" Argument:

    “The entire system is rigged. Now, I’m not saying that this company over the long term may not hit their business plan, but their business plan... reads like a graphic novel.” — Steve Bannon [39:30]

  • Index Funds & Retail Investor Warnings:

    “They had already been approved to go into these index funds... so there’s massive buying... What’s going to happen now that... all the people who’ve got these shares at 135, 165, 195 are allowed to sell? You’re going to blow out the stock.” — Eric Bolling [43:49]

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6. Bond Markets, Debt, and Economic Warning Signs

[53:38]–[56:26]

• Rising US Debt & Treasury Yields:
  Cortez breaks down the spike in two-year US Treasury rates as a warning:
  Quote:

  “The bond market is incredibly unhappy with the profligate borrowing and spending... All of it really because of the war. And so the bond market right now is telling us that they do not believe that the peace will hold... treasury yields determine the interest rates on everything you do in your life...” — Jared Isaacman [54:20]

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Notable Quotes & Memorable Moments

• On Brexit’s Betrayal:

  “Brexit has not been implemented because the established order in the city of London and the British ruling class did not want it and still don’t want it.” — Steve Bannon [14:10]

• America’s Independence Parallel:

  “We had a long time to implement our Brexit. It took a while. Here you’ve had the established order in Britain, are globalist. The Tory party is being probably worse than Labour.” — Steve Bannon [10:48]

• Populist Persistence:

  “We won because we wouldn’t quit.” — Steve Bannon (re: American Revolution and persisting despite setbacks) [09:55]

• AI & Tech Elites:

  “The established order wants to implement the highly leveraged bet... this kind of techno feudalism that is rapidly replacing the constitutional republic set up by a revolutionary generation...” — Steve Bannon [14:16]

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Timestamps for Key Segments

• Brexit analysis, 10-year review: [04:00] – [08:30]
• Bannon on establishment sabotage: [08:30] – [12:00]
• US parallel (Trump, mass deportation, MAGA): [10:50] – [14:40]
• Israel, Iran, and US role: [13:10] – [14:40]
• Oil markets, Iran deal scrutiny: [21:24] – [29:48]
• SpaceX IPO/financial system critique: [36:13] – [43:53]
• Bond market, debt, and economic warning: [53:38] – [56:26]

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Tone and Style

The conversation is urgent, assertive, and combative, combining insider policy analysis with populist skepticism toward both governments and major institutions (media, finance, etc.). There is little trust given to elites—whether Tory, Republican, or tech—and a persistent call to vigilance and further action on behalf of sovereignty, national identity, and economic independence.

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For Listeners: Big Takeaways

• Brexit’s actual implementation has, according to the hosts, been systematically undermined by the British establishment, leaving the core issues (immigration, sovereignty) unaddressed.
• The MAGA movement in the US faces parallel obstruction by party elites unwilling to enact populist priorities.
• Financial markets (especially the SpaceX IPO turmoil and rising Treasury yields) are warning signals of deeper systemic risk—a repeat of past crises if unchecked.
• Foreign policy segments stress American disengagement and realpolitik: Israel should defend itself, the US should use economic leverage over adversaries, and avoid entanglements driven by globalist interests.
• The show is a rallying point for listeners skeptical of establishment solutions and advocates populist-nationalist perseverance in the face of institutional inertia.

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Transcript

[Eric Bolling]

This is an iHeart podcast, guaranteed human

[Newt Gingrich]

on New Troy Podcast. We're celebrating America's 250th birthday and I asked my guests how they're spending their 4th of July.

[Steve Cortez]

Brett Baer I will be working. I'll be in Washington because it's a big, big day.

[Jared Isaacman]

Jared Isaacman I plan to be flying in an F5 fighter jet painted in Freedom 250 colors, along with four other fighter jets flying over the nation's capital.

[Newt Gingrich]

Listen to new on the iHeartRadio app, Apple podcast or wherever you did your podcast.

[Armstrong and Getty]

Why should you listen to Armstrong and Getty on demand? We're not boring. A lot of news is boring and tedious and depressing and makes you angry. You don't want to live your life like that. Hey, I'm Jack Armstrong. He's Joe Getty. We're Armstrong and Getty. We try to bring you the truth and help you figure out this crazy

[Steve Cortez]

modern world about something, about a comedic tone.

[Armstrong and Getty]

We have a winner. Yes, listen to Armstrong. You get on Demand on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

[Unidentified Military or Political Commentator]

Marks the 10th anniversary of Britain's 2016 vote to leave the European Union. Many are still asking that question. At the time, much of the world still lived under the post Cold War order, globalized, open and governed by shared rules. When Brexit's leave campaign promised to take back control for millions, that slogan answered a growing unease about where that open world was headed. They wanted tighter borders and to reclaim an eroding sense of national sovereignty. In addition, Brexit's leading advocates saw another opportunity to remake Britain as Singapore on Thames. This was a vision of a buccaneering, deregulated, low tax competitor right on Europe's doorstep, which would strike great trade deals with the wider world and in particular with the United States. But a decade on that order has come apart. The US elected Donald Trump just months after the referendum. Brexit supporters who cheered his victory as vindication found an uncertain world of trade barriers and a weaker transatlantic alliance. Even Singapore, Britain's supposed model, has warned that this new era would be very hostile for punchy economies built on openness to global trade. And and in any case, Britain never built that nimble Singaporean style economy. Boris Johnson governed as a big spender who briefly pushed the country to its highest tax burden since the end of World War II. Economist argues the real issue is that Brexit lingers like a toxin in the economy's bloodstream, binding itself to long standing weaknesses from higher energy costs to weak investment. Harder still to measure is the cost of everything else Britain did not do. While its politics were consumed by a revolving door of leaders at number 10 Downing street and an endless argument over how exactly to leave the eu, knowing every version of that answer would make it poorer. King's College London finds that the share who say Brexit is going worse than they expected has nearly doubled in five years, from 28% in 2021 to 48% today. But while many feel Brigret, the man who did more than anyone to bring it about, is closer to power than ever. Nigel Farage's Reform uk, a revived version of his Eurosceptic UK Independence Party, leads the national polls and swept last month's local elections, eroding the century long dominance of Labour and the Conservatives. Ten years on, Brexit continues to define Britain's voting lines. Reform has absorbed much of the anti EU coalition. Older, more male, less likely to have a college degree, and driven above all by cultural anxiety over issues like immigration and race. The lesson of the past decade is that there are no clean exits and no clean returns either. As Martin Wolf of the FT argues, a reversal of Brexit would be unrealistic and, he argues, unnecessary. He advocates for a third way, modeled on Switzerland. It would not involve EU membership, but rather a patchwork of treaties to align closely with the bloc on trade, education, science and security. This is far from perfect. Britain would become a rule taker in Europe rather than a rule maker. But with the promised rewards of going it alone still nowhere to be seen. It may be a move worth making, you guys start a war that nobody

[Steve Cortez]

can save you on this earth.

[Unidentified Military or Political Commentator]

Nobody.

[Steve Cortez]

You can join force with. You can join force with NATO, you can join force with the whole Germany and nobody gonna save you guys.

[Unidentified Military or Political Commentator]

Trust me, nobody gonna save you guys.

[Steve Cortez]

They can put you on the middle

[Unidentified Military or Political Commentator]

of this with blue TMR, RPG, AK. They saw around you more than 200, 200 billion soldiers and you are individual.

[Steve Cortez]

They cannot save you. Trust me. Tuesday 23rd June, in the year of our Lord 20, 26, 10 years ago today, they were beginning the voting for Brexit. We didn't find out about it until, I don't know, about 10 or 11 o' clock in, in British time, late in the afternoon. Raheem Gassam, who's over there today with Nigel Farage going and around doing commemorations and celebrations of Brexit, was running Breitbart London for me at the time and we put our shoulder to the wheel for about a couple of years on this topic, but really ramped it up when the referendum was announced. Nigel Farage said the next morning that Brexit would not have happened unless they had the platform and support of Breitbart London. Why was that? Because why we even started. The Daily Telegraph and other Conservative outlets started to get what they call wet. They were globalist. They bought into the globalist agenda and forgot what national sovereignty was about. There's a lesson here because Brexit has not been implemented in the 10 years and the bulk of that was under the Tory party. Starmer just won what a year or two ago, overwhelming landslide. But Brexit, through Boris Johnson and trust the entire crowd. The central reason that the British voted for Brexit was not simply the rules and regulations coming out of Brussels. Nigel Farage ran the unofficial campaign. What you did is you had kind of a bake off to see who would get money from the government to run the pro Brexit and anti Brexit campaign. Boris Johnson won that and his was all about these regulations and governance from Brussels and Davos, all that which is very important and struck a chord with the British people. But the central issue was unchecked immigration, that to get your sovereignty back you had to actually define who was a citizen and who was not. And you couldn't continue to allow all of these non citizens to come in and flood the country. I think, I believe under the Tory rule, at least from the. From Boris Johnson, off from our bricks. And I still think there's like 8 or 9 million, 13 million overall for what the Tories did. But I believe it's. It's 8, 9, 10 main of that have come since Brexit. That's the last valedictorian we had right there was telling you it doesn't matter. Doesn't matter if you close your borders, doesn't matter if you do if you limit migration, doesn't matter if you start re migration, which we call mass deportations, that the battle's already lost, the war is already lost because you've already allowed too many of the valedictorians into the country. Why is Nigel Frau sitting they trash Brexit. Brexit has not been implemented. But but put it in historical context, we are what, 11 days away and we're going to have a big run up here on War Room and Real America's voice for the commemoration and celebration around the 250th signing of the Declaration of Independence. But the signing of Declaration of Independence we declared we were independent. We had to fight for that. Then you had a very long war of independence of which we won because we wouldn't quit. Then you had the building of the nation, the, the constitutional conveyor. We tried it with the Articles of Confederation. It didn't work. We then had the con, you know, Constitutional Convention, had the Constitution jammed at home, tried to build as a nation. The British relentlessly, relentlessly didn't, you know, didn't believe that they had really lost the American colonies. They weren't prepared to give it up. The War of 1812. And I say, and Raheem Kassam, you know, supports me on this. The revolution in that part period didn't end until the early days of January in 1815 when General Jackson and Kind of a ragtag army was put together down in New Orleans. And it gave a massive defeat to part of Wellington's best part of Wellington's army from the peninsula campaign against Napoleon, a army that I might add, defeated Napoleon, I believe in June of, of that year. So we, we had a long time to implement our Brexit. It took a while. Here you've had the established order in Britain, are globalist. The Tory party is being probably worse than labor. And what you're seeing here, I know a lot of people are getting, hey, I'm black pilled. I don't know if I can go forward with this. You know, Tucker yesterday said, I'm, I'm not going to support the, the, I'm not going to support the Republican Party. I think MTG came in at the same time, said she's not going to support the Republican Party. I realize we're going through a very tough phase right now and people, you know, there's noticeably in certain areas a lack of, a lack of enthusiasm. When you get out and start working the issues and you see what the alternatives are, you don't find that people get motivated. But the Republican Party has not wanted to implement any of President Trump's, any of the maga, any of the MAGA solutions. And right now they've convinced the president. People around the president with polling have shown him that this is why we're not doing mass deportations. More importantly, he's going up to the Hildemar talk about the Save America Act. The Senate is treating President Trump as a lame duck, worse than a lame duck, at least a lame duck. They show some respect. They're not showing any respect at all. What they're enthusiastic about, what they're enthusiastic about is merging the defense industrial basis of Israel in the United States, what this phase of this war is showing you more than ever highlighted. Israel has to be its own independent nation. Can no longer be a vassal state and a protector of the United States. They don't want it. They want to fight their own wars. God bless you. You're an independent sovereign nation. Go fight them. We'll work out some agreements to sell you some weapons and Bob's your uncle and go fight. Go fight in Lebanon, go fight in Syria, take on Hezbollah, take any on, anybody you want. You're free and independent nation, but we can't be involved in it. And that is sapping enthusiasm. Enthusiasm. You can tell that also on the Persian side. Now, they did make a caveat yesterday that, hey, the money was going to go into escrow account. It can only be used to buy American products or particularly American foodstuffs to feed their starving population. You know, that may be the case. Bowling's going to be on here in a minute. We're going to go through this, but this thing's got to be wrapped up. And if we give them access, if we do two things, if we take away all the structures and processes that we have conducted economic war against the mullahs, including the carrier battle group, we're going to rue that day. That is why Iran was in such shape that we could do the kinetic part as quickly and as brutally and as efficiently as we did. We have to choke them off economically and that has to be the case. Otherwise we're going to be sucked into this thing for decade after decade after decade when the most important issues are before us are here at home. Right now you've got a Marxist jihadist alliance that is running the tables in places like New York City, in Chicago, in Minneapolis, in Washington D.C. in Los Angeles, in San Francisco, in Portland, Seattle, many other the big cities in the country because the big cities have declared themselves sanctuary cities. They will not turn over voting rolls. We just had federal judges yesterday rule that we can't get our hands on the, on the voting rolls. Why is President Trump going up to Capitol Hill to talk to the, to the senators for this conference, the Senate, the Republican conference, that say, hey, we've got to do this or we're not going to have a country. In addition, you got all these massive issues, massive issues right now before us on artificial intelligence. And they're getting more and more dangerous every day. And the stakes are getting higher on the economy every day now, as you see. You know, we don't tell you what stocks to pick and what stocks to stay away from. But I haven't seen the opening market this morning. But the, the, the world's biggest IPO has lost, I think, 20 in value in the last, I don't know, 30 hours. As it comes unraveling stock markets down text actions. They now realize, guess what, Tesla SpaceX comes back and says, hey, I think I need $80 billion worth of debt. I'm going to do it in sequences of $20 billion in tranches. I believe that came as a surprise somewhat, particularly to some of the retail investors that got it at the end. And the reason is the established order wants to implement the highly leveraged bet as a country and with these companies, the highly leveraged bet on artificial intelligence that's given a concentration of power, this kind of techno feudalism that is rapidly replacing the constitutional republic set up by a revolutionary generation that declared war on the British crown and the British east India company 250 years ago. Brexit has not been, you know, has not been implemented because the established order in the city of London and the British ruling class did not want it and still don't want it. The MAGA nationalist populist agenda has not been implemented in the United States fully because they fought President Trump every step of the way. And don't think that these House members and Senate members, as soon as President Trump's gone, don't say, oh, my God, gosh, we really got to implement this program now. They're waiting for him to go and in fact, the Senate right now is trying to show him the door. Okay, short commercial break. We're going to break all of this down, including new updates about the Chinese Communist Party and the threats to the United States of America, all next in the war room.

[Newt Gingrich]

This is Newt, the English former speaker of the House and a proud American citizen. I'm celebrating America's 250th birthday on my podcast, Newts World, with 15 special episodes. And I've got some great guests. Walter Isaacson, Jonathan Turley, Brett Baer.

[Steve Cortez]

I will be working because it's a big, big day. I'll be in Washington and have all kinds of coverage through the day of

[Newt Gingrich]

America 250 Rachel campus Duffy.

[Steve Cortez]

There's nothing like American music. We're the home of rock and roll. We're the home of rap. We're the home of pop music.

[Newt Gingrich]

Eric Metaxas, Jared Isaacman.

[Jared Isaacman]

I plan to be flying in an F5 fighter jet painted in Freedom 250 colors, along with four other fighter jets flying over the nation's capital.

[Newt Gingrich]

The story of the National Anthem and the President of the United States, Donald J. Trump. Join me and let's celebrate America's 250 listen to Newts World on the iHeartRadio app, Apple podcast or wherever you get your podcast.

[Armstrong and Getty]

Why should you listen to Armstrong and Getty on Demand? We're not boring. A lot of news is boring and tedious and depressing and makes you angry. You don't want to live your life like that. Hey, I'm Jack Armstrong. He's Joe Getty. We're Armstrong and Getty. We try to bring you the truth and help you figure out this crazy modern world.

[Steve Cortez]

How about something about a comedic tone?

[Armstrong and Getty]

We have a winner. Yes. Listen to Armstrong and Getty on demand on iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

[J.R. Martinez]

2026 marks the 250th anniversary of America. The soul of this country is found in the stories of those who defended it. I'm J.R. martinez, a U.S. army veteran. I know that true valor isn't just a word. It's a choice made in a split second. That's why I'm honored to bring you a brand new season of Medal of Honor Stories of courage from Pushkin Industries and iHeart Podcast. You'll fly into the heart of a rescue mission with Air Force pilot James Fleming in Vietnam.

[Unidentified Military or Political Commentator]

I'm gonna put you out in the middle of hell. If you have to come home, I'll bring you home.

[Steve Cortez]

That's my duty. It's my honor.

[J.R. Martinez]

We'll also travel back to 1926 to witness Richard Byrd's historic flight over the North Pole. These are more than just stories of combat. They are testaments to leadership, community and the human spirit. Listen to Medal of Honor on the iHeartRadio app, Apple Podcast, or wherever you get your podcast.

[Armstrong and Getty]

Just moments ago, President Trump responded to critics over the memorandum of understanding that he signed with Iran. He says the money that the US treasury will release for Iran is going into escrow, will be used to buy food and medical supplies exclusively from the United States. It should be noted the money he's talking about here is different than the money from oil that Iran as of now can already sell. Sanction free for US dollar as many see that as a huge windfall that Iran can get right now. Also this morning, CNN has exclusive new reporting. One of the most dramatic incidents of the war, the downing of a US Fighter jet over Iran. Sources say the pilot who was rescued by special forces describe seeing something before ejecting a swarm of Iranian drones moving.

[Steve Cortez]

They have put on some. They've given us some new information on this. Eric Bowling joins us.

[J.R. Martinez]

By the way.

[Steve Cortez]

Can we put up, I want Denver to put up the Axios lead story on Brexit. I think it's very important for. If Grace and Mo and Elizabeth can push this out. I think it's very important to read in Brexit was a predicate to President Trump's win in 2016. Remember tonight the victory is cleared. Tomorrow was the celebration, as I said over and over again on the radio show at the time. This will lead to. This shows you there's a tectonic plate shift and Donald Trump's gonna, you know, at that time they had not had the convention. Cruz and these guys are still trying to fight a rear guard action. Even President Trump gained the nomination, although he clearly won in the primaries. But I said he won that and also he will win in the fall against Hillary Clinton. And he did. But you see, put it in, put it in perspective of the plan that has not been implemented. He's been held up by now. The Republican Party still the Republican Party. And I say if they've got an answer, let's see that, let's see the answer. They're controlled opposition right now you answer why the country is in such terrible shape, horrible shape. We were so close to losing the country back then. When President Trump stepped in, it's because the Republican Party had been controlled opposition to the, the, the big government, progressive Democrats. It wasn't a fight, it was a pillow fight in the financial situation, I think is getting worse and worse and worse. Let's get Bowling in here. We're going to talk about. So president came out this morning. If we can get that true social. He, he put some more details on what they're negotiating, negotiating, which I think is necessary because people need to understand the echo. We have a, a very strong economic warfare structure in place. We have brought them to the knees. They are losing $400 million a month or $400 billion a month. They are, they are getting crushed, right? Their people are getting crushed. It's horrible. But you can't take those away. You can't, you can't just strip off their triggers. Now, I understand they have given them a license for August to start selling oil. Now, supposedly the 60 day, you know, period's over and we have a signed deal. Until it's a signed deal and it's implemented, no way would I ever take those off. Once you start taking those off, the architecture of that, particularly with partners like France and the United Kingdom who will backdoor you in a New York second. You have to be very careful about that. But they have the money that we have. The 20, the hundred billion dollars in various financial institutions around the world. 50 billion, let's say controlled or quasi controlled by the United States. 24 billion definitely controlled the 6 billion which you know, over the weekend we were going crazy. You can't send pallets of cash to them. It is going to looks like now into an if it happens into an escrow account only to buy U S foodstuffs to, to, to and but I don't understand the logic of feeding a starving population. The more they starve, the more they're going to overthrow the theocracy. I understand that's a, you know, gosh, that's a cruel thing to say, Steve. Look, did you look at Japan in World War II? Did you look at Germany in World War II? After what they did to the world, we, we did not hold back, trust me. And we weren't sending pallets of food to them in 1944 and 1945. It was long after it was unconditional surrender and only when it would came to the came to people's attention. They're starving and they may flip to be on the Russian side unless we get some food for them. Bowling, your thoughts about you've been following this closely. Then I want to get to the world's greatest stock offering, the one that I might add on this show. Both Philip Patrick and Eric Bolling. On the day of the offering they had been offered stock and I said guys, are you going to hit the bid on that? And you go, I don't know. I think this price, I'll take a look at it in 30 days. Bowling might be right. Bolling, let's talk about the deal first. Oil, what's happening in markets and then we'll get into the IPO.

[Eric Bolling]

So oil about flat right now, hovering around 74, $75 a barrel, not really moving. A lot of the traders are waiting to see. You know, you have a situation where President Trump came out yesterday and said 19 million barrels transited the Gulf I guess two days ago. That's pretty much unconfirmed. I'm not questioning him. I'll just tell you Steve, that's not a record. We were, we were producing. We were transiting 21 million barrels a day on average through the strait. I watched these tanker traffics too. The vessel traffics numbers that get posted. The highest it's gotten to that I've seen is 54. We saw 54 vessels, remember, in and out. That's total. So at the peak when, when things were moving, 21 million barrels were moving through there a day. There's about 140, 150 vessels per day moving through there, 75 in, 75 out. So it's probably he's being told a number that he's. It may be that since they started this conflict. Absolutely. But the number can't be a record. I don't want to split hairs here, but the oil market cares about every single barrel that's being actually transited or ones that are talked about. Reuters said Trump said it and that's where everyone's saying, oh, there must be 19 million barrels that flow through and that must be a record. None of those are true. Trump did say it, but that's number one. I'm confirmed about the 19. The number 219 doesn't come close to a record. Who cares? A lot of people do care about that. Otherwise oil I think would be even lower. I think it's. They're taking a breath. The traders are taking a breath right now. And the. You're seeing a major, major meltdown in, in the, in the technology stocks, mostly through the AI driven stocks that really kind of.

[Steve Cortez]

But hang on before we get to that. Before we get, Hang on before we get to that. I want to go back, but all appears to be flying. I mean 19 million barrels, 21 million if it's a record or not.

[Eric Bolling]

It's flowing the question million barrels through there with 50, 50 vessels going in and out. That's at most 30 coming out. Let's just say maybe all came out. That's still Nowhere near the 140, 150 that would take or 75, let's say half of them, 75 coming out. You're two thirds of what a normal day was.

[Steve Cortez]

Isn't the issue to that not so much even related to Navy escorts or destroyer escorts, but really the insurance market and what's going to happen here. I think you're the one that told me the war risk premium. Mary's Cortez. The war risk premium on insurance on these vessels is still very high. Yeah. So we don't. It's really who come. Who drops oil and comes back. Right. We gotta. Who makes the return trip empty to fill up again. That's going to be the. Where the rubber meets the road.

[Eric Bolling]

Yeah. It was 800% normal most of the time throughout the whole conflict. It dropped to 150% the day President Trump announced that it's all clear. In the Strait of Hormuz, it's back up to about 390% of normal. So the worst premiums and the insurance premiums are still substantially higher. It doesn't mean it's not going to go away. It doesn't mean that oil won't eventually come out of the strait. But I think the important part here is what are the Iranians going to do? Steve, this whole thing is predicated on the Iranians holding their end of the bargain. They've never done it. I've been doing this for 40 years following geopolitical oil and movements and promises. They've lied consistently. In the 80s, they lied and Israel had to come and wipe them out. Under Barack Obama, they promised to allow our inspectors to come in and see their nuclear sites. Well, everything they were doing with their nuclear facilities, they lied. They shut us out. They didn't even care. They didn't even shut us out. As for the $300 billion that they're going to get, or we're going to hold it up or there's going to be an escrow, the Iranians already said that's not part of the deal. They've already discounted that as part of the deal. So there's a lot of question marks about what's going on. I think. I'll be honest with you. I've known Trump a long time, as have you, and you know him better than I do, but I think he just wants to be in his rearview mirror and he wants to portray a picture of a win. It may be a win. I don't know. I would, I would say, I think China is going to come out smelling like a rose and so is Iran. So what portrayed as a win because you got to get to the midterms early on, Steve, on this program, I was saying we need to get this thing done day five, day 10, not day 114. I said we need to finish this because it's going to butt up against the midterms. And to a person, people who are on with me, the audience. Oh, bowling. This is bigger than the midterms. Well, it's not. The midterms are going to. If we don't hold at least the Senate, we're going to spend two years just talking about the Trump impeachments. What are we going to get done here? America needs lower prices. We need to drill more oil. We need a House and a Senate to allow Trump to drill oil because that's where not only energy independence.

[Colby from Chapter]

But.

[Steve Cortez]

Hang on. But that's, but that's okay, but that's not contingent. Look, as you know, I hated how we got into this war, but getting out of it, I'm not in love with this deal because I think it finances A group of bad guys are never going to live up to it. So I would just soon pull the chalks, keep the fleet out there, keep their cash, keep all the architecture to bring them to the knees that we have and let Scott best and go mess with their currency. They're such tough guys and they can come in and, you know, not shake JD's hand or turn their back. All this kind of nonsense. People looking at, you know, on social media, it's all crap. We've got, we've got the leverage here. We've got the economic leverage. President Trump admits what brought them to their knees was our economic leverage under no circumstances. And there's no piece of paper that can convince me that they will ever agree to anything and live up to it. But at the same time, you've got to cut loose Israel, this whole thing about Lebanon and getting us more involved and stabilizing the region. We don't this. The region's not going to be stabilized. It's not. And the Israelis now think they got a battle plan of how to take care of it militarily, that's fine. If they got it. Go with God. But we got to cut ties. Still, still sell them weapons. Otherwise we're just stuck in the square.

[Eric Bolling]

Allow them to sell their freaking oil on the world market. That is what they needed the most.

[Steve Cortez]

We handed that to and that helps the Chinese Communist Party, which we'll talk about later. So hang on for a second. I want to talk then about this, this offering. Birch Gold, they've got a special until July 10 to commemorate the beginning of the victory over the British Empire. Take your phone and text Bannon B A N N O N at 989-898 with a qualifying purchase. And Philip Patrick can tell you what that is. With a qualifying purchase, you're eligible to get a 1 oz free 1 oz silver round. Not a coin around. Check it out today.

[Newt Gingrich]

This is Newt Gingrich, former Speaker of the House and a proud American citizen. I'm celebrating America's 250th birthday on my podcast, Newts World, with 15 special episodes. And I've got some great guests. Walter Isaacson, Jonathan Turley, Brett Baer.

[Steve Cortez]

I will be working because it's a big, big day. I'll be in Washington and have all kinds of coverage through the day of America 250.

[Newt Gingrich]

Rachel Campos Duffy.

[Steve Cortez]

There's nothing like American music. We're the home of rock and roll. We're the home of rap. We're the home of pop music.

[Newt Gingrich]

Eric Metaxas. Jared Isaacman.

[Jared Isaacman]

I plan to be flying an F5 fighter jet painted in Freedom 250 colors, along with four other fighter jets flying over the nation's capital.

[Newt Gingrich]

The story of the national anthem and the president states Donald J. Trump. Join me and let's celebrate America's 250. Listen to Newts World on the iHeartRadio app, Apple podcast or wherever you get your podcast.

[Armstrong and Getty]

Why should you listen to Armstrong and Getty on demand? We're not boring. A lot of news is boring and tedious and depressing and makes you angry. You don't want to live your life like that. Hey, I'm Jack Armstrong. He's Joe Getty. We're Armstrong and Getty. We try to bring you the truth and help you figure out this crazy modern world.

[Steve Cortez]

How about something about a comedic tone?

[Armstrong and Getty]

We have a winner.

[Colby from Chapter]

Yes.

[Armstrong and Getty]

Listen to Armstrong and Getty on Demand on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

[J.R. Martinez]

2026 marks the 250th anniversary of America. The soul of this country is found in the stories of those who defended it. I'm J.R. martinez, a U.S. army veteran. I know that true valor isn't just a word. It's a choice made in a split second. That's why I'm honored to bring you a brand new season of Medal of Honor Stories of courage from Pushkin Industries and iHeart Podcast. You'll fly into the heart of a rescue mission with Air Force pilot James Fleming in Vietnam.

[Unidentified Military or Political Commentator]

I'm gonna put you out in the middle of hell. If you have to come home, I'll bring you home.

[Steve Cortez]

That's my duty. It's my honor.

[J.R. Martinez]

We'll also travel back to 1926 to witness Richard Byrd's historic flight over the North Pole. These are more than just stories of combat. They are testaments to leadership, community and the human spirit. Listen to Medal of Honor on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

[Armstrong and Getty]

War Room. Here's your host, Stephen K. Banner.

[Steve Cortez]

Okay, given our crack team, do we have. Do we have the clip? The one of Cortez declining, buying into the. Buying into the offering of SpaceX, not Cortez. I mean, I mean, bowling. You don't have that?

[Colby from Chapter]

No.

[Steve Cortez]

Okay, dig that up for me. See if you find it. So, bowling, you Know, a couple weeks ago, I guess when this thing went public a couple of weeks ago, I had you and Philip Patrick on my oil guy and my gold guy, two hard assets. And as Cortez will tell you, he says all this talk about the dollar being strong and flight to quality, it's only against fiat currencies. It's the world's tallest midget. When you talk about physical assets like real estate, oil and gold. I talked to you about this ipo, which I said at the time, and I'll stand by this. As a young associate at Goldman Sachs in the 1980s when it was a private partnership and he had joint and several liability among the partners, that means if there was something that went public or some kind of deal went awry, the lawsuits went against every partner in the firm. Joint and several. And that's why Goldman Sachs was so rigorous about the deals they did. This is not the post ipo. Goldman Sachs publicly traded Goldman Sachs, which has a different reputation. But back then, reason was the partners knew their heads were on the chopping block financially everything they work for. So the due diligence and scrutiny on doing transactions was at the highest level on Wall Street. That's why I was the renowned equity House. This thing, this perspective for SpaceX. You would have been fired on the spot. If you were making a presentation to the management committee, you'd have been fired on the spot and you would have been walked out of the building for presenting that it is an abomination and a disgrace. So when people sit there and tell about maga, I know MAGA wants to destroy these institutions and MAGA wants to take out the Central bank of Maga. Because just like in the run up to 2008, the fiduciary, the, the institutions in our country that should be fiduciaries, the elite institutions that, that hire from the elite schools in this nation and people get benefit for being at the McKinsey's of the world and the Goldman Sachs of the world, in the Sullivan and Cromwell's of the world, all those great institutions, those are the folks. Well I won't say they live in the Hamptons anymore because that's the hedge funds and private equity guys. But you, you live a charmed life in this society because that comes a responsibility about being a fiduciary. When I talk to you and Phil about that, they were coming to you guys because you've invested earlier and are a high net worth investor to fill out the round of which then they were going to go to retail investors and Folks, just remember Wall Street's always giving the best deals to the retail investors. Eric Bolling, your thoughts about this entire thing, particularly as this offering starts to unravel.

[Eric Bolling]

Yeah, Steve, we were, Philip and I were talking about, I was offered the stock. You know, look it, it came out at $165 a share. And leading up to it, I've never seen hype like that in, in a stock in an equity. Never ever, ever. Every time it's overhyped like that, it's usually some sort of bust. Even Google had a bust from first. Now it's been a monster winter since. But Google quote unquote broke its IPO the first day. I think this is going to break the ipo.

[Steve Cortez]

So tell people, tell, hang on, hang on. Tell, tell our audience that are civilians in this area what that means and why that is such an extraordinary event when it happens.

[Eric Bolling]

Well, so breaking your IPOs. So what they do is they try prior to an ipo, company's private. They want to go public and they want to find the right price that creates enough demand to keep the price up, but not so much that it's so high it gets slam went down after an ipo. So they find a kind of a Goldilocks price for the, for the stock. Google was too high. It came, I, it came out, I believe it's 80 a share if I'm not mistaken, traded in the area and then slammed through the number down below and that's called breaking the ipo. It's a bad sign. No one wants that to happen. So Fast forward to SpaceX. A 2 trillion 1.7 trillion dollar valuation for a company that loses billions upon billions of dollars seemed insane. They came out of 165. It went up to 225. Steve. And in the trading days between Friday and Monday. I'm sorry, Thursday and Monday, Friday was Juneteenth. We didn't trade for some stupid reason. Whatever. So in two trading days it went from 225 down to 147. Ballpark. That's 900. Almost a trillion dollars. $900 billion of valuation just wiped out. So all the people who bought it. 170. 180. 190. 200 got smoked. It's trading. 250. I'm sorry, 150 right now. I don't know. Is, is it, has it found a home? I don't think so. I think you're going to see it go lower that that company. Steve lost more valuation in two trading days. Than the entire valuation of Tesla or if you took Netflix and Oracle, put them together, more than those valuations, more than the GDP of Turkey, Saudi Arabia and Switzerland. Any of those GDPs. An annual GDP in two trading days. It's for the big boys. It's not a, it's not a stock that you want to just jump in because everyone said it's going to go higher. Elon Musk knows what he's doing. I don't know. I, I need to see more first. I think, like I said, it's going to break the ipo, I believe. And you may even be able to buy it under a hundred.

[Steve Cortez]

Wow. Let's play the bite under 100. We don't make predictions here. Can we play the clip down?

[Eric Bolling]

Highly sought after shares, Steve. They went immediately. I turned down, I was offered several thousand shares of this. I already have several thousand shares of it. And I turned it down because I think I will be able to buy that space. I'm not saying this isn't going to be a good business plan going the long run. I believe I'll be able to buy SpaceX stock, SP, CX stock, under $100 a share before these people get unlocked. 100, 180 day.

[Steve Cortez]

Hold it under, under $100 a share.

[Eric Bolling]

Yeah, I'll put it out here. Steve,

[Steve Cortez]

I just gave you, I just gave you the fight, the tape look, I did. To me, I just don't see the value proposition at all as a business. Here's one of the problems. This. We talk about a rig system. They normally, companies like this go public, they got to mature. You got to see if they're hitting their business plan. If the use of proceeds, the money they raised in the IPO is being put to use. You know, a couple of quarters go by, a year goes by, then they're put into what if, if they achieve their goals, they put into kind of these index funds. And putting them in the index funds means that certain money managers have to buy the, or certain funds or subty. You got to buy the index here. They set it up, I think right away they qualify. So a lot of you folks out there in your pension funds, you're owners of this baby. You're owners of this baby already. And they did that and they waived the rules on that so they would have more support for the stock that people would come in and be forced to buy it. The entire system is rigged. Now, I'm not saying that this company over the long term may not hit their business plan, but their business plan Read it. It's in the prospectus and I think I'll get that for Grace and Mo. We'll put up so people can read at least the business section and the risk section. But they're talking about data centers in space, mining asteroids, bases on Mars. It's fairly futuristic, it almost reads like a graphic novel. But here they've moved heaven and earth, moved heaven and earth to make sure they get this stock out and get the public, get the retail investor, which nobody's ever looking for, the retail investor. This is why we on the show. A couple weeks ago President Trump signed an executive order that finally you're going to get access to if you want to. X amount of your 401ks or IRAs can be put into private equity funds that are kind of qualified, etc. But it gives the little guy the first chance to get a take if he's willing to take some risks and get a piece of, of what the Goldman Sachs clients, you know, high net worth individuals get every day. But my problem with this IPO is that every financial, every fiduciary institution around kowtow to Elon Musk, right? Because he wanted it done this way and they all kowtowed to him. This is no different. I'm not saying this is going to trigger a 2000 type 8 financial crisis yet, but this is the same thing that happened in the run up to 2008. All the ivy League guys, all the accounting firms, the commercial banks, the big real estate guys, all the investment banks, everybody look, the other regulatory agencies, everybody looked the other way to make as much money as they possibly can. And right now we have to face a quite unpleasant fact. As a country and as the business entity inside that nation, we are making a, as I said over and over again, what is my mantra? This is a highly leveraged bet on massive productivity increases in artificial intelligence without concomitant mass layoffs of people or this lack of hiring. That is actually, that is a hard fact of what's happening. You can see it in this first of the big IPOs and many more are coming anthropic OpenAI, et cetera. Eric Bollinger observations on that, right?

[Eric Bolling]

Yeah. The problem with SpaceX is it it's more than just an AI conglomerate. They're talking about mining planets, mining in outer space, data centers in outer space. It's very esoteric, it's not real yet, it's not tangible. I'll tell you one more thing too, Steve. They gave a bunch of people a ton of stock like me And Philip, if he took the stuff, the, the original ones, the original ones were 135. The others were 165. And those are locked up. Those are locked up. They could be locked up for up to 180, half a year. So anything can happen. And you're right, as soon as they opened it up, they had already approved, been approved to go into these index funds. So there's massive buying from the index funds because they needed to keep SpaceX as one of the stocks in the fund because their mandate is to have high capitalization stocks. So they were buyers, there were no sellers. So of course it's going to go up. What's going to happen now that the index funds don't need to buy anymore and all the people who've got These shares at 135, 165, 195 are allowed to sell.

[Steve Cortez]

You're going to blow out the stock.

[Eric Bolling]

Do it at all.

[Steve Cortez]

The one thing I will say there, when you read the perspective, there is a business. The business is a relatively small, it's the SpaceX business. It's a government contractor. And this is why we had the big fight over Isaac. Men at the, at NASA. That's, that's Elon's buddy. Elon's got all the NASA contracts. First thing I would do is put all these contracts out once again for bid. Elon Musk controls a government contractor that's got sweetheart deals to get these government contracts. But it's just a government contract. If you look at it, the margins aren't great anyway. But that's the core business they got. It does, I don't know, $10 billion a year, $20 billion or something like that. That's the core business. Now eventually he's going to merge this with Tesla. There's no doubt about that. You watch. They'll, they'll, they'll do the old five slam a jama on you to make sure they take care of that dog.

[J.R. Martinez]

Also.

[Eric Bolling]

I've already told us that. Yeah, there's speculation that, that that's going to happen to help prop up the stock. It'll help Tesla as well. If Tesla owners think they're going to get into SpaceX at a price, they'll buy Tesla to backdoor it into SpaceX and the whole thing will be better. But honestly, Tesla's the only thing that's making money of all of them. I, I, you know, SpaceX, the, the rocket company is amazing. They're, they're doing things that NASA could never do. But they're still losing money doing it. That's the problem from an investor. It's, it's not a great play from a futuristic person who hopes the world gets better. Yeah, I think he's, he's on to something.

[Steve Cortez]

Where do people go?

[Eric Bolling]

Bowling.

[Steve Cortez]

If I get my act together, we'll do a change handover today. If I, if I got the show organized.

[Eric Bolling]

Where do people go for you, Eric Bolling. E R I C B O L L I N G across all social media. Love to, love to hear from you guys.

[Steve Cortez]

Where do they go? Get your, where they go get your, your new show. You got something up on YouTube? The Edge. What's the edge? Give me a, give me 30 seconds on the edge.

[Eric Bolling]

Edge is male performance. It's okay to be a man again. It's okay to be motivated to work hard. We lean into toxic max masculinity. We support it, we look for it and we embrace it rather than hide from it. There's no Mark Millies worrying about his, his white privilege. With the Edge. It's all about dudes, men making better life choices. I'll talk, talk about health, we talk about nutrition, we talk about money, we talk about working out, we talk about all the things that men like to do and it's, it's really male dominated the edges on YouTube. But thank you for that.

[Steve Cortez]

Fantastic. I know it's exploding, so thank you, sir. Appreciate you coming on in the morning, Eric.

[Eric Bolling]

Thank you.

[Steve Cortez]

Steve Chapter is going to join us later in the show. 845 War Room. It's a data company that is set up with one purpose to make sure that you get the best guidance, the best data about available Medicare plans for you or your current Medicare plan. That number set up as a direct line for the Warren Posse. The feedback we've gotten from folks is pretty overwhelming. 8:4 5 War Room. Have Colby and his team at chapter, the data scientists look at your plan, review it, do it today, free. No obligation. 845-war- Room.

[Newt Gingrich]

This is Newt Gingrich, former Speaker of the House and a proud American citizen. I'm celebrating America's 250th birthday on my podcast New World with 15 special episodes. And I've got some great guests. Walter Isaacson, Jonathan Turley, Brett Baer.

[Steve Cortez]

I will be working because it's a big, big day. I'll be in Washington and have all kinds of coverage through the day of America.

[Newt Gingrich]

250 Rachel Campos Duffy.

[Steve Cortez]

There's nothing like American music. We're the home of rock and roll. We're the home of rap. We're the home of pop music.

[Newt Gingrich]

Eric Metaxas, Jared Isaacman.

[Jared Isaacman]

I plan to be flying in an F5 fighter jet painted in Freedom 250 colors, along with four other fighter jets flying over the nation's capital, the story

[Newt Gingrich]

of the national anthem and the president, Donald J. Trump. Join me and let's celebrate America's 250. Listen to Newts World on the iHeartRadio app, Apple podcast or wherever you get your podcast.

[Armstrong and Getty]

Why should you listen to Armstrong and Getty on demand? We're not boring. A lot of news is boring and tedious and depressing and makes you angry. You don't want to live your life like that. Hey, I'm Jack Armstrong. He's Joe Getty. We're Armstrong and Getty. We try to bring you the truth and help you figure out this crazy modern world.

[Steve Cortez]

How about something about a comedic tone?

[Armstrong and Getty]

We have a winner. Yes. Listen to Armstrong, you Getty on demand on the out iHeartRadio app, Apple Podcasts or wherever you get your podcasts.

[J.R. Martinez]

2026 marks the 250th anniversary of America. The soul of this country is found in the stories of those who defended it. I'm J.R. martinez, a U.S. army veteran. I know that true valor isn't just a word. It's a choice made in a split second. That's why I'm honored to bring you a brand new season of Medal of Honor, Stories of courage from Pushkin Industries and iHeart Podcast. You'll fly into the heart of a rescue mission with Air Force pilot James Fleming in Vietnam.

[Unidentified Military or Political Commentator]

I'm gonna put you out in the middle of hell.

[Steve Cortez]

If you have to come home, I'll bring you home. That's my duty. It's my honor.

[J.R. Martinez]

We'll also travel back to 1926 to witness Richard Byrd's historic flight over the North Pole. These are more than just stories, stories of combat. They are testaments to leadership, community and the human spirit. Listen to Medal of Honor on the iHeartRadio app, Apple Podcasts or wherever you get your podcast.

[Armstrong and Getty]

Here's your host, Stephen K. Ban.

[Steve Cortez]

Colby actually joins us from chapter. So, Colby, how can a data company, how can a company that's set up and came this from data, do a better job than the legion of advisors that are out there that always advertise and they're always there to help people that don't really do it? From a data perspective, sir, I like

[Colby from Chapter]

to think about it similarly to how the world has moved from asking the local gas station attendant for directions to looking at Google Maps or whatever map program you use or Waze. And that's because when you accumulate a lot of information, you can provide really granular, specific guidance, even for local affairs like your health care. So at chapter we really focus on providing the best Medicare guidance, using the best data to make sure our seniors have the best Medicare guidance that they deserve.

[Steve Cortez]

One of the things I've gotten from feedback from folks that have used it, and by the way, it's uniformly just great. 845 War Room is the direct hotline Colby and the team set up. Is that your package when you work with somebody and it's totally free, no obligation to get the first kind of analysis of where you stand, but it goes through an arc of a journey. You just don't do it, and then they never see you again. You get an advisor, consultant, and it kind of sticks with you through the process, correct?

[Colby from Chapter]

That's right. We're here for your entire Medicare journey. So if you're just signing up for the first time, we'll help you figure out exactly what plan you should get and automate the enrollment. So it's very easy. And then once you're enrolled in a plan, we'll help you navigate the entire ecosystem. So if you need to find doctors who are in network, or you need to minimize your prescription costs, or you need to appeal a bill or a claim, you know, there was a new study that came out a few weeks ago that showed that most claims are not appealed, but when they are appealed, almost all are overturned. So we help with things like that, where there's so much money left on the table, $100 billion a year is left on the table that goes back into the insurance carrier's pocket, which should be going into the consumer's pocket. And we help people throughout that journey to make sure that they're getting everything they can out of their Medicare.

[Steve Cortez]

You know, one of the hesitancies of people is that this is such a personal decision. It talks about the most personal stuff, particularly as you're eligible for Medicare. What's your recommendation when somebody calls 845-WAR-ROOM? What's the best way to initiate the conversation? How is it that you can get into this and then break that fear that, gosh, I'm talking to these data guys and this about my Medicare, you know, maybe I don't want to disclose some of the ailments I've got, et cetera. What's the best way to engage with your consultants and advisors?

[Colby from Chapter]

Yeah, it's a great question. Every, every one of our teammates is a full time employee of Chapter. Anyone you talk to will be a licensed Medicare advisor. So they've gone through a lot of steps of credentialing and selection to make sure that they are very not, not just experts on Medicare, but very confidential and respectful of people's personal information. So we use best in class security. We use bank level encryption to store all the information. But most importantly, we are creating relationships with our members. We're there to help. People can give us as much or as little information as they feel comfortable with. Of course, the more information we have, the better recommendation we can provide. But it's really on us to earn that trust over time and make sure people feel comfortable interacting with us. And they tend to after they have a quick conversation with one of our advisors because we don't train just in Medicare, but we also train people in how to be a good conversationalist and be there for people when they need it.

[Steve Cortez]

No, the empathy is important. 8:4 5 War Room people, your advisors are manning the phones right now, I take it?

[Colby from Chapter]

That's right. We're here. We're here to help. You can give us a call at 845-W-R-A- Room and our only job is to make sure you get the best Medicare guidance possible.

[Steve Cortez]

Colby, thanks. Great feedback so far from the Warren posse. Really appreciate you making this available.

[Colby from Chapter]

Thanks for having me.

[Steve Cortez]

These founders have a different way of looking at the world and it pays off big time. Cortez Bond market and equity market so before I go back to the because my concern is the lack we're seeing again the same symptoms we had in the run up to 2008, which is these fiduciaries kind of looking the other way. But how's the bond market doing, particularly with obviously outer horror moves. There's more oil flowing. Looks like some progress is being made if you believe that the Iranians will live up to their end of the bargain. Although the fighting is still intense in Lebanon, I think it's going to get more intense and I think it's going to get intense in Syria and that whole part of the world. What's the bond market telling us?

[Jared Isaacman]

Well Steve, the bond market seems to agree with your skepticism regarding this fragile piece of two year yield as we speak is at 4.20. That is a one year high. And to put that in context, before the war it was below 3.4. So for two year yield for near term interest rates, that is a massive move to go 80 basis points a basis point is a hundredth of a percentage point. So it has gone from 3.4 to 4.2 in just weeks. That for again for two year yield which doesn't typically move a whole lot. Not a volatile market historically. That is a massive move. All of it really because of the war. And so the bond market right now is telling us that they do not believe that the peace will hold. And the bond market is incredibly unhappy with the profligate borrowing and spending which was already a problem pre war, but of course has become much, much worse with this fighting and with the rise in prices all throughout the economy. Not just on energy, of course. That's what most people are fixated on. But I always tell folks that oil matters. Of course it does. Equities matter. But the bond market matters way more to most people's lives than any other market. Why? Because treasury yields determine the interest rates on everything you do in your life from credit card interest to a home mortgage. And it has such a direct tangible effect upon Main street prosperity. It's very hard for Main street to prosper. It's hard for real wages to get going when we have a trend of rising bond yields. Why? Because your pay has to flow vault higher than to exceed the rise in prices that the bond market is pricing in. And again, these are real prices. These aren't projections from somebody. This isn't the opinion of Steve Cortez or of an economist. This is the biggest market in the world by far. The bond market, especially the US bond market, telling us that the bond investor world says hey us, if you're going to continue to borrow at this rate with $40 trillion in debt, guess what? You're not the borrower. You used to be, America. And you're going to pay us more. You're going to pay the bank effectively more interest because you're getting to be a riskier and riskier borrower. That's the sad news.

[Steve Cortez]

And that's the. And that's the short term, right? People's lives are ruled, folks, by the ten year Treasury. Anyway. Cortez, hang on. We're going to get into more of this. Captain Fennell is also going to join us. Update on the main thing. Keep the main thing, the main thing. The Chinese Communist Party. What's Cortez say? Price is truth. Price is truth. Or as the former coach, head coach of Bill Parcells, you are what your record says you are. Kind of cuts through it all. Birch Gold end of the dollar empire. Go to birchgold.com Bannon not promo code slash banner you get access to says to all eight free installments. We're working on the ninth. Remember this what the deal they're working on with the Persians right now is all that oil has to be transacted in dollars. That's just not something that Scott Besson's adding on. Realize the petrodollar quite important. Short commercial break Hour two is upon us.

[Newt Gingrich]

A new troll podcast. We're celebrating celebrating America's 250th birthday. And I asked my guest how they're spending their 4th of July. Brett Baer.

[Steve Cortez]

I will be working. I'll be in Washington because it's a big, big day.

[Newt Gingrich]

Jared Isaacman.

[Jared Isaacman]

I plan to be flying in an F5 fighter jet painted in Freedom 250 colors, along with four other fighter jets flying over the nation's capital.

[Newt Gingrich]

Listen to Newts world on the iHeartRadio app, Apple podcast or wherever you you get your podcast.

[Armstrong and Getty]

Why should you listen to Armstrong and Getty on demand? We're not boring. A lot of news is boring and tedious and depressing and makes you angry. You don't want to live your life like that. Hey, I'm Jack Armstrong. He's Joe Getty. We're Armstrong and Getty. We try to bring you the truth and help you figure out this crazy modern world.

[Steve Cortez]

How about something about a comedic tone?

[Armstrong and Getty]

We have a winner. Yes. Listen to Armstrong. You get it on Demand on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.