THE WAR ROOM WITH STEPHEN K. BANNON (EP. 4901)

Summary

Real America’s Voice: THE WAR ROOM WITH STEPHEN K. BANNON (Ep. 4901) – November 4, 2025

Main Theme / Purpose

This episode of The War Room with Stephen K. Bannon centers on the legal, political, and economic battles shaping the American landscape at a pivotal election moment. Discussion ranges from assessments of lawfare against Donald Trump, the power of Article II executive authority and the coming Supreme Court tariffs case, to the broader implications for American sovereignty and the populist movement (dubbed “Maganomics”). Guest experts Mike Davis (“the Viceroy”) and Jim Rickards provide in-depth analysis.

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Key Discussion Points & Insights

1. Lawfare, Justice, and the Trump Prosecutions

• Mike Davis analyzes the fallout from the DOJ’s Trump investigations:
  • Discusses the recent book “Injustice” by Carol Leonnig, which casts Merrick Garland and Jack Smith as falling short for not putting Trump in prison.
  • Davis argues Garland’s approach was too slow and outdated and that, contrary to mainstream coverage, the real scandal was the prosecution’s political motivations.
  • Quote:

    “Merrick Garland comes across as someone for whom a time capsule is required. His judgment and his pace of decision making feel like the most dangerous thing at the Biden Justice Department.” (Mike Davis, 03:43)

• Lawfare turned back:
  • Davis forecasts legal consequences for those who “weaponized” government against Trump:

    “They tried to bankrupt [Trump] for non-fraud... they tried to throw him in prison for the rest of his life...they tried to throw him off the ballot unconstitutionally… this is an ongoing criminal conspiracy and they're really gonna be shocked when they face these grand jury subpoenas..." (Bannon, 09:36)

• Recent developments:
  • Chuck Grassley’s committee and whistleblowers are accessing evidence previously hidden. New indictments and subpoenas are coming, focusing on players like James Comey.
  • Quote:

    “Cash Patel and Dan Bongino, and Lindey Halligan showed the receipts yesterday ... these are damning documents with Comey and these other lawfare Democrats…” (Mike Davis, 11:57)

  • The hosts emphasize the shift as whistleblowers and new evidence emerge, suggesting the “sea change” in the last three weeks.

    “They're getting access to these hidden rooms ... things that were hidden before...” (Bannon, 14:41)

2. Bring the “Receipts” Against Deep State Actors

• Details about the ongoing case against James Comey, gathering evidence from within FBI “burn bags.”
• Federalist Society and “mainstream” GOP figures once argued there was “no evidence,” but now, led by MAGA-adjacent legal teams, strong cases are being built.
  • Quote:

    “Lindsey Halligan teamed up with Cash Patel and Dan Bongino and guess what, they found the evidence. They got the indictment in Alexandria, Virginia...” (Mike Davis, 18:41)

3. Article II Powers and the Supreme Court Case

• Focus on an upcoming Supreme Court hearing regarding Trump’s tariffs and the scope of executive authority under Article II.
• Bannon and Davis argue that the Court is siding with the maximalist “unitary executive” theory championed by Trump’s legal thinkers.
• Praise for “bold” attorneys like Pam Bondi for taking direct battles to the Court and winning substantial victories.
  • Quote:

    “Pam Bondi has bigger balls than all the Republican attorneys general before her combined… she's taken this aggressive approach and going to the emergency docket...” (Mike Davis, 24:43)

• Criticism of establishment GOP/legal figures (notably Judge Michael Luttig) for bitterness and institutional loyalty at odds with the populist movement.

4. Economic Policy & “Maganomics”

• Jim Rickards previews Supreme Court arguments on Trump tariffs
  • Legal focus is the International Emergency Economic Powers Act (IEEPA, 1977)—used for presidential economic actions, including sanctions and tariffs.
  • Rickards argues SCOTUS should not limit this power because Congress can override the president if they choose.
  • Quote:

    “The fact that the word ‘tariff’ is not in there is... irrelevant... the judiciary should keep out." (Jim Rickards, 27:10)

• Maganomics at Hillsdale College
  • Rickards is delivering a culminating lecture on America’s economic strategy since the Great Society, with Trump’s approach as paradigm-shifting.
  • He contrasts “free trade” orthodoxy with Trump’s targeted tariffs and industrial policy, modeled after the rise of Taiwan, and asserts these policies are finally being taught and debated on their own merits.
  • Quote:

    “Trump says: you can sell whatever you want to Americans, tariff-free—no problem—but you have to build it here. These are cornerstones of Maga economic policy.” (Jim Rickards, 33:14)

5. A Personal Spiritual Reflection

• Rickards describes a recent pilgrimage to Medjugorje, a famed spiritual site in Bosnia-Herzegovina.
• He shares the peaceful experience, relating it to the broader theme of restoring national and spiritual sovereignty.
• Quote:

  “It was the most peaceful, loving place I've ever been. If I can't put it into words, that's okay because you can definitely feel it... Maybe America's getting its soul back, and that's a good thing.” (Jim Rickards, 40:07)

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Notable Quotes & Memorable Moments (with Timestamps)

• “This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people.”
  — Steve Bannon [01:07]

• “They are in a bubble. It would be shocking to people in New York City... that real Americans actually like Donald Trump and want him to be the president.”
  — Steve Bannon [09:36]

• “They're going to have a meltdown again when the grand jury subpoenas start going out and the indictments start playing—it's going to get very ugly.”
  — Mike Davis [12:23]

• “If you bring the scalps, as long as you're bringing them, you're good. The moment you don't... they're cutting it. They're cutting... Not breaking enough laws—not because it's all about getting Trump to prison.”
  — Bannon [08:51]

• “Cash, Dan, and Lindsey showed the receipts they found including in the burn bags inside of a skiff, inside the FBI—they were trying to destroy this, this evidence.”
  — Mike Davis [18:41]

• “The judiciary should keep out... The Congress can undo what the president does, so we don't have to be involved.”
  — Jim Rickards [27:10]

• “When you explain it to people, they're like, ‘oh yeah, that actually does make sense.’ So I think you're right. Had a great reception here [at Hillsdale].”
  — Jim Rickards [33:14]

• “It was a little bit of heaven on earth... Maybe America's getting its soul back, and that's a good thing.”
  — Jim Rickards [40:07]

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Important Segment Timestamps

• Lawfare analysis & Garland/Smith fallout: [03:43–07:06]
• Bannon/Davis on elite “shock” at Trump’s return: [09:36–11:57]
• Shift in legal momentum, subpoenas, evidence: [12:23–16:04]
• Comey case details/receipts: [18:41–21:07]
• Article II debate, Supreme Court preview: [21:07–25:43]
• Jim Rickards: Supreme Court & tariffs: [27:10–30:10]
• Maganomics lecture/Hillsdale, populist economics: [30:50–34:43]
• Rickards describes Medjugorje pilgrimage: [38:03–42:44]

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Additional Notes

• Action Theme: The episode consistently calls for listeners not just to observe but to “take action,” echoing the “action, action, action” mantra (Bannon [26:26]).
• Community Engagement: Frequent plugs for social media (Getter, Twitter), “receipts”/documents, and following breaking developments underscore an interactive, participatory narrative.
• Spiritual Underpinning: Rickards’ description of Medjugorje provides a reflective, almost pastoral moment amid political and economic hardball—connecting personal renewal to national recovery.

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Summary

This episode of War Room blends legal updates, economic lectures, and calls to civic—and even spiritual—engagement. Bannon and his guests depict the current climate as a historic reckoning, not only for the American political and legal order but for the country’s soul. The discussions forecast escalating legal battles, a strengthening populist economic paradigm, and what the hosts hope is a coming revival for “real America.”

Transcript

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[Steve Bannon]

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[Steve Bannon]

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[Stephen K. Bannon]

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[Steve Bannon]

This is the primal scream of a dying regime pray for our enemies because we're going medieval on these people you're just not going to 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.

[Jim Rickards]

The world to stop that but you're.

[Steve Bannon]

Not going to stop it it's going to happen and where do people like that go to share the big lie maga media i wish in my soul i w that any of these people had a conscience ask yourself what is my task and what is my purpose if that answer is to save my country this country will be saved war.

[Stephen K. Bannon]

Room here's your host stephen k ban.

[Steve Bannon]

Tuesday the fourth of november year of our lord twenty twenty five i've got two of the biggest hitters we've got we got the viceroy mike davis is with us and jim rickards who's out at hillsdale about to give the concluding lecture on the american economy since the lyndon johnson's the great society and he's giving the wrap up on economics magonomics we're gonna get to jim here in a minute mike davis here's what i'd like to do i've got mike i want to put we got a call open for mike a couple things i got to get with tomorrow's historic argument in front of the supreme court we're covering it wall to wall on president trump's tariffs but also it gets to the heart of what this audience has been absolutely critical about which is the which is article two powers and what are the what's the office of the president's article two powers the president united states powers we're going to talk about that and we've also got a lot of moving pieces and mike's got a long thread up on social media on twitter to go through this let's play the cold open and bring in the viceroy mike davis well they're all having finding a job anywhere in washington right now they certainly have been and how many law firms are not willing to go toe to toe with donald trump right now and his administration some have just started their own firm in the last few days but you know there is a very human moment towards the end of the book where you know jack realizes it's all over and you know he's with his prosecutors and says you know i have a wonderful wife and kids and that's what really matters in this world and you know i urge you to find what matters for you and to hold onto that because everything they'd been working on was over you know everything that they'd really poured.

[Mike Davis (The Viceroy)]

Night and day into in jack smith's orbit his inner circle was we could be overturned the fear for merrick garland the attorney general who ultimately tacitly approved this move was the appearance of shopping for a better jury in dc you know dc had indicted every single capitol rioter you know and definitely was much more anti trump well merrick garland comes across as someone for whom a time capsule is required his judgment and his pace of decision making feel like the most dangerous thing at the biden area justice department is that a fair extrapolation of your body of reporting on merrick dar merrick garland's conduct you know this is an extremely respected jurist somebody that i covered judge yes forgive me a very very respected judge who had that job for twenty four years and somebody i covered way way way back when i was in you know a youngster broad support for him as a judge as an attorney general people felt that he was hearkening back to a post watergate playbook that no longer played he was living in a world in which it would be okay to turn the page but it turns out that not looking at the evidence that was very public starting we learned in december twenty twenty there were investigators pushing for an investigation based on evidence that they didn't actually open until a year and a month later same evidence right december twenty twenty and they didn't open this investigation until january thirtieth twenty twenty two would not have been more clear when he was the attorney general that he did not want anyone speaking we have a moment in the book that's never been reported before where he was livid when then then about to be former us attorney mike sherwin went on sixty minutes to explain the evidence in the riot investigation and how he believed you could charge these people with seditious conspiracy those who had helped arrange the riot those who came with riot gear and you know specialized and zip ties but also the radio communications just the sort of front phalanx if you will and he went on air and made this series of comments about how he really thought seditious conspiracy was the way these charges were trending he'd made that recommendation to merrick garland privately and now merrick garland was hearing it on national television and the end result of that was they recommended referring mike sherwin for disbarment in two states where he held a law license for discussing what the crimes were that they would try to build cases for yes so they were going to be disbarred and now everyone that worked for under merrick garland's direction and decision to appoint a special counsel jack smith to investigate donald trump's crime of mishandling classified documents and interfering with the election has been fired purged and canceled and they're going to do nothing it's a great question you'll that we won't be able to answer for them i'm just telling you if past is prologue i do not see them coming forward word for this stunning and chris ray silent.

[Steve Bannon]

So far also quiet so far many.

[Jim Rickards]

Many millions of american people that it's all politics it is not politics none of it is politics ali veli and.

[Steve Bannon]

The american people must understand that.

[Mike Lindell]

I'Ll.

[Steve Bannon]

Do a little longer cut on ludic because what he's saying there is so important that is signal not noise about the roberts court on everything we got going forward including tomorrow and ally velchi this is his that saturday morning interview mike davis let me start with brother if you don't bring some scalps you're going to get thrown under the bus that's carol lennig and erin davis over at the i think it's washington post i think she's still there she might go on the atlantic but been at the washington post forever and they are throwing jack smith and particularly merrick garland under the bus in this book injustice as many laws as they broke as many things that they did on weaponizing the federal government it's not good enough because trump's not in prison he's president again brother just give me your assessment of that this thing i can play these that when they're going around pitching this book i could play this all.

[Stephen K. Bannon]

Day long sir i would say to jack smith you were the democrats useful idiots and you're no longer useful you failed to deliver and as good marxists do you are they're going to take out the knife for you brother you're toast you did you didn't deliver no.

[Steve Bannon]

No this is the bo no you're one hundred percent correct this is exactly what the bolsheviks do the bolsheviks and stalin and these guys hey if you bring the scalps like barry if you bring the scalps as long as you're bringing them you're good the moment you don't bring them you know it's a show trial they are cutting it they're cutting i mean merrick garland gets ripped on in this book and jack smith gets ripped on as not doing enough not breaking enough laws not because it's all about getting trump to prison and to make sure he can't return there's so when you read these books and see these interviews mike they're still kind of in shock that trump is back you can you can feel it as it goes through you're like you're like a sitting shiva or it's an irish wake they're just sitting there just in kind of shock about what just happened.

[Stephen K. Bannon]

Sir yeah because they don't understand real americans in real america they don't understand the war room posse they don't understand how people think in the real world they are they are in a bubble they're in the new york and dc bubble and it's it would be shocking to people in new york city and manhattan and in washington dc and you know the fancy parts in northwest upper dc it is shocking that real americans in real america actually like donald trump and want him to be the president and these lawfare democrats did everything they could to sabotage not only president trump but sabotage the american people the american electorate for the last eight years they made up the russian collusion hoax to protect hillary and to hurt president trump and when that failed in twenty sixteen and trump won the white house they tried to destroy his his presidency they hobbled it with the russian collusion hoax they did the arctic frost on the united states senators and the trump allies after president trump left office they impeached him twice for for nonsense they indicted him four times for non crimes they tried to bankrupt him for non fraud date they tried to throw him in prison for the rest of his life they tried to throw him off the ballot unconstitutionally in colorado and mainland elsewhere they tried to take off his head when they underfunded a secret service and said he's the gravest threat to democracy and biden said to put a bullseye on him this is an ongoing criminal conspiracy and they're really going to be shocked when there's when when they face these grand jury subpoenas and when they face criminal indictments it's going to get a lot worse for these lawfare democrats these lawfare democrats laughed at cash patel the fbi director at dan bongino at lindsey halligan the us attorney in the eastern district of virginia outside of dc they're not laughing anymore as cash patel and dan bongino and lindsey halligan showed the receipts yesterday that you talked about that's on all my social media these are damning documents with comey and these.

[Steve Bannon]

Other law care democrats hang on one second because we've seen a shift here in the last two or three weeks with grassley's committee what cash has put out just i want to take that thread and i want to hold you through the break for a few minutes too to get i want to take that thread which you kind of lay out in the viceroy's thing walk us through this kind of sea change we've seen over the last two or three weeks here sir and what it means for us going forward well cash patel.

[Stephen K. Bannon]

And dan bongino and chuck grassley my former boss the senate judiciary chairman lindsey halligan pam bondi todd blanch they're firing on all cylinders and they're actually delivering and i give great credit to these people particularly cash patel and lindsey halligan they they are going up against the deep state and anyone who's done this in the past has been utterly destroyed and cash and dan and lindsey and so many others that we talked about are they're just bold and fearless warriors for the constitution they know what these lawfare democrats did to president trump his top aides like you steve bannon and peter navarro and jeff clark his allies this is the biggest scandal in american history what these lawfare democrats did they did not like what the american voters did in twenty sixteen and so they tried to destroy that they tried to destroy president trump for the last eight years they tried to destroy his top aides his allies they threw everything they had at president trump and teflon don is back in the white house and they're going to have a meltdown they're really going to have a meltdown again when the grand jury subpoenas start going out and the indictments start playing it's it's going to get very very ugly for these lawfare democrats very as we've discussed on your show for the last three plus years since the mar a lago raid and we're gonna put their asses in prison where they belong a.

[Steve Bannon]

Couple things i'm hearing is that number one there's about a hundred subpoenas backed up as the lawyers try to work through them also they're superseding their superseding indictment's gonna come out let's take we got about a minute here and i'll hold you through the break briefly i know you gotta bounce the grand jury subpoenas i heard they're backed up like flights on a friday night over laguardia.

[Stephen K. Bannon]

Sir i have to be careful what i say about grand jury subpoenas i may know that there are grand jury subpoenas i may not know so but i would say to these lawfare democrats lawyer up because justice is definitely coming and i'm going to make damn sure.

[Steve Bannon]

That happens justice will be served we have mike davis the viceroy with us mike i'm just holding for a couple minutes if grace and mo can put up that twitter thread yesterday of davis it's really quite brilliant and it kind of walks you through everything because you use this as a roadmap remember mike came out of grassley's committee and over there those guys are deadly serious so this goes to another phase right now of course more information and the more it's put out there and promulgated the more whistleblowers and the more folks you're going to have over in the apparatus they're going to say hey no mas i can't do this anymore i'm going to get rolled up in this this is one of the things i think you're seeing is that they're getting access to these hidden rooms they're getting access to things that were hidden before i don't know is there obstruction charger probably but that's another thing that's got to be in the hopper right now they're shorthanded everybody knows that but they're grinding away and i think you've seen a sea change in this since lindsay halligan's come over and just a woman on fire on this short break the viceroy next jim rickards also with us short commercial break back in a moment.

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[Stephen K. Bannon]

Kill america's voice.

[Jim Rickards]

Family are you on getter yet no what are you waiting for it's free.

[Steve Bannon]

It'S uncensored and it's where all the biggest voices in conservative media are speaking out download the getter app right now it's totally free it's where i put up exclusively all of my content twenty four hours a day want to know what steve bannon's thinking go to getter.

[Stephen K. Bannon]

That'S right you can follow all of.

[Jim Rickards]

Your favorites steve bannon charlie kirk jack.

[Steve Bannon]

Posobi and so many more download the getter app now sign up for free and be part of the new pin patriot mobile tonight we're going to be at the headquarters of lee wambsgan i think stitchfield is going to be there we're covering all of election night wall to wall it's a perfect day for you to switch from the mobile carriers that hate you to one that loves you and has your back patriot mobile nine hundred seventy two patriot you talked to one a us citizen two someone in the state of texas to talk about all the great services they have number one mobile service in the country patriot mobile glenn story and the team tonight they'll be a big part of our coverage nine hundred seventy two patriot tell them steve bannon sent you and you get a month for free when you switch davis correct me if i'm wrong and you were a bush white house guy right you were bush white house and it tells you how many warriors were actually in the republican party in the conservative movement at the time that just needed a little a little guidance from the populist nationalist warriors right and then they became they're our frontline troops the federal society leonard leo in the crowd i thought they were lecturing us for the longest time they had got that there was no evidence here what what was that about yeah i.

[Stephen K. Bannon]

Remember when people looked at this case against james comey for perjury for false statements for obstruction of a congressional investigation when comey lied twice in twenty seventeen and twenty twenty to the senate judiciary committee when the senate judiciary committee was investigating this russian collusion hoax all the wemps the fed sock web said that there's no evidence here well lindsey halligan teams up with cash patel and dan bongino and guess what they found the evidence they got the indictment in alexandria virginia certainly not trump country in this democrat suburb outside of washington dc and then comey was stupid enough to file a motion to to dismiss the indictment for malicious prosecution and they were saying that lindsey halligan and cash and dan and the rest of the all stars in the trump administration were targeting comey comey only because of his first amendment rights right and so then lindsey said okay then i'll i'll show you the receipts and they that lindsey showed the receipts that cash patel and dan bongino founds including in the burn bags inside of a skiff inside the fbi they were trying to destroy this this evidence and cash and dan found it turned it over to lindsey and lindsey filed her response to comey's motion to dismiss for malicious prosecution it's on all my social media it's penned to my social media getter truth x all of it and these these receipts are so damning steve i mean it's just comey is absolutely cooked with this evidence and you know the jury follows this evidence he's he's done but comey has bigger problems i imagine there's going to be other indictments coming down the road maybe in the southern district of florida for this conspiracy against rights that we've been talking about where the obama and biden regimes politicized and weaponized intel agencies and law enforcement to take out trump his top aides his allies this is again we keep saying this these are the appetizer indictments against big tish and comey wait till we get to the main course with crossfire hurricane with the conspiracy against rights under eighteen usc section two hundred forty one these people are cooked amazing.

[Steve Bannon]

The viceroy has been one of the tips of the spear in this and it's incredible coming together we just got to drive it after tonight there's going to be a lot of pressure on president trump i think are people to slow this thing down you can't you got to hit it with more speed than ever i want to before i lose you tomorrow at the supreme we're going to have an all star group tomorrow of some of the best folks like we've got rickards coming on about globalization trade tariffs but the one thing ludic's there brother because mike davis having worked on for years when we were in the wilderness with the project twenty twenty five guys and stephen miller guys over america first policy institute and of course the great russ vote and others basically came up you know driving the maximalization of article two or the unitary theory of the executive the supreme court has come out and kind of i don't know mike it's backed your theory the case which is these are political decisions these are political choices and need to be rectified at the polls through something called politics that's why ludicrous who's still bitter at trump and even bitter at the bush guys for passing him over to the supreme court because he thinks he should be chief justice and he ain't that's why he's doing saturday mornings on msnbc at eight at seven thirty in the morning of course with the war room watching your thoughts your thoughts about what tomorrow is going to show and why is ludic using this mantra it's not political it's not political it's not political sir well i love.

[Stephen K. Bannon]

Bannon that you have judge ludig michael ludig just absolutely triggered he keeps he keeps saying your name you're living rent free and michael ludig's head he is this washed up loser former federal judge like you said steve he's so bitter that he got passed over for the supreme court i was in the bush white house office of political affairs at the time as you said i'm a little bit more radical than my colleagues i was i broke a little bit more china as you can imagine than my colleagues did in that white house but ludig it it he's never recovered from his bitterness and trump has absolutely fried ludig's brain and remember this is the same michael ludig i just wrote a piece in the federalist on this and it published yesterday this is the same michael ludig who said that the colorado supreme court decision throwing trump off the ballot i think he said masterful or some some something like that this is that got reversed nine to nothing by the supreme court and i mean it's it is really hard to get reversed nine to nothing by the supreme court but michael ludic and his goofball theory found a way they're they're just bitter they they're bitter that the american people put president trump in the white house twice really three times but they stole stole the election in twenty twenty and they're bitter and they are so mad at real americans in real america like the war room posse who put president trump back in the white house and they're doing everything they can to stop him they run crossfire hurricane before his presidency and during his presidency they ran ortic frost after his presidency to try to take out trump and maga now they're trying to use judicial sabotage they're trying to have these these democrat activist judges in these democrat hellholes like new york dc atlanta boston and elsewhere tried to destroy his presidency but the supreme court's not going to let that happen we need to give and i mean this sincerely not only david warren said the white house counsel but also attorney general pam bondi we need to give her credit for this she doesn't get enough credit bill barr would not have brought these cases to the supreme court because bill barr is a blowhard and pam bondi has bigger balls than all the the republican attorneys general before her combined and she's the one who's taken this aggressive approach and going to the emergency docket of the supreme court and getting these monumental wins not only for president trump but for the presidency in his article two core article two executive powers and he pam is winning monumental cases she's won like twenty one cases at the supreme court already and she's just getting warmed up and so cheers to pam todd blanche john sauer the solicitor general we have an all star team and i would say look out for my friend jason redding quinones the new miami us attorney he just opened a special grand jury a new grand jury in fort pierce florida i imagine that we're going to see some action down there.

[Steve Bannon]

Mike davis the tip of the spear always in the lead lead tank where do people get you on social media you got to follow him on getter and you got to follow him on twitter because you're putting up great stuff all the time and people need to be in the you need to be in the details here folks you need to see the receipts where they go mike yeah for the.

[Stephen K. Bannon]

Next three and a half years we're going to be holding these lawfare democrats accountable so buckle up it's justice is definitely coming as promised and as being delivered you can go to article three project dot org article number three project dot org follow us on social media donate but only what you can afford and again the war room posse's superpower.

[Steve Bannon]

Is action action action action action sir thank you so much judge ludic mike meant to say seven and a half years but more on that later mike davis thank you the viceroy joining us on election day thank you sir thank you we're going to try to get mike on tomorrow before the monumental hearing at the supreme court arguments jim rickards is with us in fact jim you're giving the lecture on magatnomics and that i'm going to get to that in the next segment just how important is tomorrow this argument about president trump's trade policies tariffs bringing jobs back to the country it all goes to the supreme court tomorrow how big a deal is this sir it's a very big deal.

[Jim Rickards]

Pardon me and it's important to understand the statute involved it's the international emergency economic powers act of nineteen seventy seven that has been used by every president ever since all the sanctions on russia all the financial warfare other countries north korea et cetera it's all based on that statute that's what they rely on when i worked at the cia by the way the cia there's always a burn bag a couple seats away from my desk and i threw a lot of stuff in there i always assumed they burned it later but maybe not but this is a lot of what i did for the intelligence community and the way to understand it what the court is what they as is being presented to the court they're saying well that act does not mention the word terrorists which is true and therefore you can't use it to impose terrorists well read a murder statute read the criminal code it doesn't tell you fifty ways to kill somebody just says you can't kill somebody so the fact that the word tariff is not in there is in my view irrelevant the statute there were two predicates one is is there an international connection well that's easily the case and number two is there a threat to national security well again when you're hollowing out the united states stealing technology using it for military purposes there's a threat to national security those are the predicates and they've often met in this case and furthermore there's a safety balance in that statute that says if the congress doesn't like what the president did within i think it's ninety days or some time period they can vote to overrule the president so the judiciary should keep out i mean again why i hope the supreme court comes out the right way but why is it in the supreme court a judge should have said look this is easy the congress can undo what the president does so we don't have to be involved.

[Steve Bannon]

Jim hang on for one second short commercial break jim rickards go to rickards war room dot com you get access to strategic intelligence and that gives you access to predictive analytics it's what the.

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[Stephen K. Bannon]

Here'S your host stephen k banner.

[Steve Bannon]

Jim rickards i want to tie what you're doing on on what the supreme court tomorrow your thoughts on the supreme court in this this monumental case is coming forward about trump's trade policies and tariffs to the lectures you're giving at hillsdale and folks are going to find if there's a possibility they can live stream it we're going to live stream it here on war room on our channel over at rumble and at getter and other platforms if not we're going to play the videotape and we're eventually going to get all of it but we definitely want to get rickards jim rickards your your lecture at hillsdale on magonomics where we are how we got here and where we're going right what.

[Jim Rickards]

I'M doing steve is you know there's plenty of commentary magnamics and policy debates and news coverage and arguments and all that but i said no one's teaching it the way you would teach monetarism or keynesianism so i started doing that actually around the world i'm here at the hillsdale college i'm giving the lecture tonight but i gave this presentation very much the same in ljubljana in slovenia ten days ago of course slovenia the original home country of our greatest first lady melania trump and it was an audience of public intellectuals government officials and others and they're in the eu and i said at the end of it i said by the way for slovenia you should quit the eu quit the european central bank get away from the euro and quit nato and use your advantages they've got you know they've got a nuclear power plant they've got i said by russian energy like hungary encourage direct foreign investment kind of laid out a plan but it basically involved getting out of the eu because they're dragging you down it was very well received i was surprised afterwards people came up and said yeah we've been saying the same thing the government won't do it etcetera so here i am at hillsdale college a great school and i said to someone the other day this could be a more hostile audience than the slovenians and the reason is that this is a you know a kind of nest of libertarianism austrian economics free trade of course there's no such thing as free trade but those are those are core beliefs and of course maga is the opposite of all those maga is pro tariffs you know america first you know et cetera so i said we'll see we'll see how it goes i actually like the pushback but yeah this is capping off a very good six lecture series as i mentioned how many slaves in catalog i think by the.

[Steve Bannon]

Way jim i think you're going to find i spoke to the hillsdale i think donors i don't know six months or so ago that we had these people on their feet i think you're going to be quite surprised at hillsdale i think they're pretty cutting edge out there i think it got a lot of mag i realize you got the libertarians you've got a lot of cato people or people think like cato you got a lot of classic austrian economics milt friedman types milton friedman types i think you're going to be quite pleasantly surprised about how at least some of the audience embraces the policies of president trump the populist economic nationalist policies of president trump sir well it's certainly a.

[Jim Rickards]

Very smart crowd and the students come first there are a lot of donors and alumni here so a lot of people travel for this but you know it's college so the students get in they get to ask the first questions everyone which i like so yeah that's really my target audience if you will is the students because they've had a certain amount of free trade et cetera and i'll give them explanation i ask people what was taiwan's comparative advantage in semiconductors in nineteen seventy five the answer is zero they had comparative advantage in tuna fishing and rice farming yet today they are the superpower semiconductor production they did that as a matter of government policy they created comparative advantage out of thin air by subsidizing it encouraging spinoffs sending students to berkeley and stanford getting them back again et cetera and trump's doing the same thing in the united states direct foreign investment i've lost count i think we're up to two trillion dollars of investment coming our way and trump says you can sell whatever you want to americans tariff free no problem but you have to build it here these are cornerstones of mac economic policy when you explain it to people they're like oh yeah that actually does make sense so i think you're right i had a great reception here and pretty high powered crowd i'm using a slide deck that proves i'm the least intellectual of the speakers because they all just got up and gave speeches but they were really really quite good.

[Steve Bannon]

I want to talk to people about getting to your site we got rickards war room dot com is the landing page when they get to strategic intelligence what is predictive analytics why we have a working class a middle class audience this newsletter is read by the top hedge fund guys that what i call the c suite ceo's chairman of the board for our audience of course our you know people love you they love when you come on you give the worldview you got you understand national security intelligence capital markets economics why when they go when they go to the site what's in it for the average person to get strategic intelligence sir well you know steve.

[Jim Rickards]

Everyone does predictions everyone does forecasts they're coming out of wall street and washington and pollsters all the time and it's amazing how many of them are just wrong so in terms of predictive analytics you know i said trump would win in twenty sixteen when it was ninety five percent hillary i said uk would vote for brexit when it was seventy five percent remain i called three hundred and twelve electoral votes in twenty twenty four for trump when most people were kind of you know high two hundreds et cetera how do we do that well i'm not smarter than all these other people but we have better models and that's the key if your model is flawed your output is always going to be flawed so we use complexity theory we use behavioral economics and that's something that's discussed but people don't actually know how to use it we use something called bayes theorem not to get too geeky but you start out with a lot of humility say well i don't know what's going to happen but here's my estimate but then you update with subsequent kind of thing janet yellen hates you know janet yellen shows up more data more data with bayes you say well i don't have that much data but i'll do the best i can but i'll update when i get new data that produces much more accurate results and that's what we do i just we just outlined our november issue just came out our december issue will be coming out beginning of the month december but we're going to do it on maga goes global we're going to look at nigel farage viktor orban melanie in italy my friends in in the balkans by the way slovenia what a beautiful country i also went down to herzegovina i kind of you know got some got off the road a little bit made a pilgrimage to medjugorje i know this is not a religious show but you know go there and you'll see a little bit of heaven on earth that might be the most important place in the world so i always tell people in washington new york you got to get off your butts get away from your screens go out travel meet people that's how you really learn but then you can bring that knowledge into your models and into your forecasting.

[Steve Bannon]

Okay i can't let you go talk to me now we're going to get you on harwell's wednesday night show you keep going talk to me about we're going to set aside the so go to rickardswarren dot com that's a landing page get access to strategic intelligence when rickards is over in slovenia he's talking to all these government officials he's essentially laying out the premise of brexit why brexit is so important to take your sovereignty back from these centralized governments it's essentially the core of the talk tonight at hillsdale it was about taking our sovereignty back the american people putting america first and american citizens first but i got to go back to liz yourr will never forgive me in harnwell and jack bosobic what did you just say where did you take a pilgrimage to.

[Jim Rickards]

Sir i went to medjugorje which is not an easy place to get to it really is a village you got a few more souvenir shops these days i went to church at saint james for viewers who may not know medjugorje is the longest series of apparitions of the blessed virgin mary on earth longest in history there have been first one was in the year forty ad i think in zaragoza spain but there's the catholic church has approved very few of these there are tens of thousands of people say i saw the virgin mary a pancake or whatever there are only about twenty five or thirty that have got the imprimatur of the catholic church medjugorje is not there yet but it's getting a lot of support millions of pilgrims go there i climbed apparition hill i went to saint james steve i'm a writer an author supposed to be good with words i can't i'm still processing the experience i can't quite put it into words but as i was arriving in the village there was a rainbow now rainbows happened it was raining that day but i was like okay there's a sign i'm not looking for one i don't need one but there it was and it is the most peaceful calm place i've ever been it's not there was no animosity nobody's blowing the horns nobody's yelling but more than that it wasn't just quiet it was a little bit of heaven on earth that's cliche but that's the best way i can describe it i would certainly encourage people to go but it's hang.

[Steve Bannon]

On hang on full stop the reason i love rickards we met a number of years ago became a contributor to the show and then we love strategic intelligence rickards has seen it all cia wall street capital markets you've got a natural cynical look because you've seen every trick pulled in geopolitics i mean this is the nastiest hardball at the highest level particularly in the twenty first late twentieth and early twenty first century you were actually moved spiritually for this you were drawn to take this pilgrimage and then when you went there it was actually more powerful than you thought it.

[Jim Rickards]

Was going to be yes no i've been thinking about it for a long time and like i say it's out of the way but i was in slovenia for the speech i said well i'm not going to miss this opportunity not easy to get to i had to fly into a place called most star which is interesting in itself going back to the civil wars there but it you know people from all over the world apparition hill is interesting it's not that's you climb a hill to the site where the visionaries first saw the virgin mary it's not particularly steep and it's not particularly high it's four hundred or five hundred feet it's a bit of a hike but it was extremely difficult to do and i'm a mountain climber i climbed some of the highest mountains in the world the footing it had rained it was slippery and i bought a stick a hiking stick which helped a lot so i didn't fall down but it wasn't like a cane it was like six foot hiking sticks it was interesting getting on the plane coming home but yeah again it's a little bit of a loss for words very moving very touching you know took you know took communion to saint james church and the best way i can describe it it was the most peaceful loving place experience but you could feel it again if i can't put it into words that's okay because you can definitely feel it i'm still kind of processing it but if you take the the messages and there are thousands of them by the way and that's why a lot of people discard it but some of them are you know really you know russia has embraced spirituality which people don't understand about russia it's all putin putin putin but the power of the orthodox church in russia and then america is losing its soul but maybe we're getting it back that's a good thing europe you know the people don't know the flag of the eu is a circle of twelve stars well that's the woman of revelation chapter twelve book of revelation you know the woman clothed in gold standing with the moon beneath her feet and a crown of twelve stars and the guy who designed it said that's where he got the idea he stopped at a church on his way to the studio the eu has spent you know decades denying that it's like oh it's twelve astrological signs twelve months of the calendar whatever no it's the crown of mary so there's a lot there's a lot there and i you know it's it's go there if you can not easy to get to it's actually hard getting out but i had to i had to find a serbo croatian taxi driver didn't speak english are you gonna are you gonna.

[Steve Bannon]

Are you gonna write this up anywhere so somebody can see the are you gonna memorialize this and write it up and put it up somewhere oh yeah.

[Jim Rickards]

I'Ve got to you know i take you know take mental notes but yeah sit down and write it absolutely i'll do that and i'll let you know.

[Steve Bannon]

Jim where do people go to get strategic intelligence right now amazing interview this morning sir where they go thanks we.

[Jim Rickards]

Have a landing page rickardswarroom dot com that's rickardswarroom dot com you can go there you subscribe you can subscribe to strategic intelligence that's our flagship newsletter put a ton of work into it uses the predictive analytics we talked about earlier and also have a we have the free book moneygpt so i hope people.

[Steve Bannon]

Enjoy that yeah well tonight at hillsdale you'll be giving the lecture the last in the series on the modern american economy since the great society jim rickards summing it up tonight about maga nemox we're either going to stream it or we can get the video and play it jim rickards honored to have you on here sir welcome back thank you jim rickards incredible what a story wow i wasn't expecting that on four november tuesday the fourth of november in the year of our lord twenty twenty five.

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[Steve Bannon]

War room here's your host.

[Stephen K. Bannon]

Stephen k band.

[Steve Bannon]

Okay it's election day the pressure is going to be on after tonight if the democrats do what they think they're going to do we're going to be covering it live starting at seven o' clock on real america's voice make sure you come back at seven o' clock we're going to be here five to seven tonight seven o' clock studio six b picks it up with coverage for a couple hours they're going to have a live audience up in new york then we come in at nine o' clock and we're going to be all over the country okay everywhere from new york city to california everywhere in between birchgold dot com comma make sure you in fact this may be the simplest way today to do it just take your phone and text bannon b a n n o n at nine eight nine eight nine eight to get the ultimate guide to invest in gold and precious metals in the age of trump this is where they break down all the methodologies iras four hundred one s tax deferred all of it so go check it out today and start to build a relationship with philip patrick and the team that's what you need to do taj gil you've got we're gonna put by the way rosemary jenks if grayson moe can push it out everybody go to her new site it's time now that you can actually see what you're either your congressman or your senator where they stand with all this important legislation regarding immigration shutting the border all of it these visa scams all of it make sure you check there and remember rosemary jenks came out of numbers usa their numbers were always the best in talking about immigration she went over to her new organization action about action to make sure and i think dave bratz on her board to make sure that we get this job done in particular we get it done under president trump as president trump is with us so go check out date people cannot run and hide from this scorecard so check it out today and then you can figure out how to talk to your representative about how they rate taj gill you've got this we're putting up some stuff that you're putting up grace and mo will push it out about getting out and vote today brother more than ever what i need is a great cup of coffee we're going to be here till midnight tonight all afternoon we're going to be checking in with everybody across the country of what's going on battling i'm here in california parts of it may be a little slow that may be good in one respect and bad in the other all the money that went into it so we're going to get more updates on all of that taj gil i need a great cup of coffee.

[Stephen K. Bannon]

Where do i go warpath coffee and then as always use promo code war room and it's twenty off right now for the war room posse if you haven't tried it try it it is the best coffee you can get we roasted on perforated drum just drink it straight black that's how you're supposed to drink coffee you don't need any milk any sugar it is literally the best coffee out there and just read the reviews we've got over fourteen zero zero zero five star reviews and the reviews roll in every day seven days a week people love our coffee we don't pay for any of these reviews it's the best coffee out there it's a.

[Steve Bannon]

Champagne of coffee no that's what you do these are all people just like yourself that came there are coffee drinkers that came to warpath and this is totally just we put a request out there after you've had the product can you come back fifteen thousand five star reviews which is the ultimate it's unbelievable and people if you go you don't need taish telling you it's the greatest you don't need steve bannon saying it's the champagne of coffee taj has worked on this for years he was a close buddy head of my security but when he decided to do this i said look if it's because we get pitch coffee all the time nonstop and we never did one because i said i've got you know i'm an aficionado we kind of live off just like on a navy ship you live off or goldman sachs or the breitbart back in the old days you live on you live on coffee twenty four seven we do it here and this was the best coffee i've ever had and you don't need cream you don't need sugar you don't need anything to cut it one more time taj we're on election day and you're gonna be back on the show tonight people may need some coffee tonight to stay up where do you go sir yeah first of.

[Stephen K. Bannon]

All go to the voting booth especially if you live in idaho and then second go to warpath coffee and use promo code war room and you'll get twenty off with the order and like steve said it is the best coffee out there we don't mess around we don't take any shortcuts there's no gimmicks all the coffee is premium there's no cheap coffee no stale coffee no burnt coffee is the best coffee out there so order some coffee and then go vote we need your vote at the.

[Steve Bannon]

Local levels taj gill runs his company like president trump says no games this stuff's real taste gill will see tonight on our wall to wall coverage starting at nine o' clock see you brother michael and dell i'm already getting reports because you know we're right near the supreme court so we're in the capitol complex with no serious i'm getting reports because because the the guards are right here they come by for a warpath coffee every now and again we're getting reports to mike lindell has been loose in the senate office building ain't true.

[Mike Lindell]

To that sir absolutely and now i'm heading over to the capitol i just got out of here when i walked in the senate building everyone who do i who do i come across i'm getting in the elevator adam schiff comes out and his eyes just popped out of his head he's going i mean you think i don't know i scared people like that but he just he did a triple take and it's a scowl and walked away and that was my greeting this morning when i got here but had great meetings steve it was amazing we've got so many things that with the arctic frost i'm finding out about of the attacks on my pillow and then also securing our election platforms everybody will have full reports on that by next week so i'm very.

[Steve Bannon]

Hang on hang on whoa whoa whoa whoa stop did you give did you give shifty a pillow did you give.

[Jim Rickards]

Him a pillow to hug no i.

[Mike Lindell]

Didn'T have it with me but he didn't want a hug either steve he didn't look like he wanted a hug it was like i mean it was like i mean if you could have seen a go it was like he's seen a ghost or something it was.

[Steve Bannon]

Like i'm going to use me he tried to he tried to put you in prison and now the maga movement and president trump's going to put him in prison this is hunters become the hunted and schiff saw it up close and personal the vision visage of mike lindell it's his worst nightmare i saw my pillow commercial in the elevator over there in the senate that's right that's.

[Mike Lindell]

Right absolutely but you guys i wanted to get on here too because it's the last day of the made in the usa sale this is it we did this exclusive for the war room for a few days here for about a week you guys get it you save up to eighty percent on the my pillows the man mattresses the mattress toppers everything we make right here in the usa and then if you go to mypillow dot com forward slash war room you can get the fifty off so we're gonna run that till the end of the day too so get your sheets they're twenty nine point eight eight or any size any color you've got your slippers over there though that's a war room exclusive slippers to thirty nine point nine eight you guys get get all all these products today using that promo code war room and this is the last day you guys get those big ticket items get free shipping right to your front door you guys have all been taking advantage of getting the mattresses so you get the best sleep of your life and we use promo code worm eight hundred eight seven three one zero six two we'll see.

[Steve Bannon]

You back here at five o' clock tonight we're gonna be going all day charlie kirk show is next posos out there with andrew covert the poso show gruber bowling then back here at five o' clock and then throughout the evening on election day in the year of our lord twenty twenty five.

[Stephen K. Bannon]

Wishing the.

[Steve Bannon]

Holidays could come early if you own or manage your business they can with help from iheartradio people are already shopping for their loved ones and hunting for deals wherever they can find them including right here they're listening to the radio they're listening listening to podcasts they could be listening to you don't wait for everyone else to kick off the holidays get your best season of the year up and running today call eight four four eight four four iheart or visit iheartadvertising dot com.

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