The War Room with Stephen K. Bannon, Episode #4950
Podcast: Real America’s Voice
Date: November 24, 2025
Host: Steve Bannon
Notable Guests: Brian Glenn, Will Chamberlain, Philip Patrick, Gail Slater
Overview
This episode dives into several major political and economic headlines, with a keen focus on breaking White House news regarding the designation of Muslim Brotherhood chapters as terrorist organizations, legal developments in high-profile federal cases, investigations into political figures, and the state of global finance. The tone is urgent and pointed, reflecting Bannon’s trademark combative style and skepticism toward mainstream narratives.
Main Topics and Key Discussion Points
1. Breaking White House News: Executive Order on the Muslim Brotherhood
- (02:33–06:59)
- Brian Glenn reports: President Trump signed an executive order to begin investigating and designating certain chapters of the Muslim Brotherhood as Foreign Terrorist Organizations (FTOs).
- Texas Governor Greg Abbott's recent similar action cited as groundwork.
- Move framed as a national security priority and response to internal/external threats.
- Press was excluded from the signing, but a timeline of 30 days was set for investigation into which chapters qualify for designation.
- Discussion: Possible political calculus (“5D chess”) considering Trump’s recent meeting with Ugandan leader Mandani and related media provocations.
- Strong reaction from conservative circles; acknowledgment that the action starts an investigatory process rather than an immediate blanket designation.
Notable Quote:
"President Trump making a strong stance today and designating these Muslim Brotherhoods for being domestic terrorists."
— Brian Glenn, (04:17)
2. Federal Court Decision: Dismissal of Charges Against Comey & Letitia James
- (09:19–14:34)
- Summary: Criminal indictments against former FBI Director James Comey and NY Attorney General Letitia James were thrown out due to improper appointment of the interim U.S. Attorney (Lindsey Halligan).
- Judge found Halligan’s appointment exceeded the legal 120-day interim period and was not properly ratified.
- The DOJ likely to appeal; Chamberlain predicts reversal at higher courts.
- Emphasis on the blue slip process which gives home-state senators influence over federal appointments, cited as a structural impediment.
- Statute of limitations concerns dismissed; DOJ would have six months to refile charges if needed.
Notable Quote:
"This was a prosecution based on malevolence and incompetence and a reflection of what the Department of Justice has become under Donald Trump, which is heartbreaking."
— (Comey Statement, read by Will Chamberlain, 10:10)
Notable Quote:
"You can't do what Lindsey Halligan did here, which is effectively walk off the street from the White House with no prosecutorial experience and then charge a case only to have this issue being raised..."
— Will Chamberlain, (13:23)
3. Pentagon Investigation: Senator Mark Kelly
- (14:35–17:02)
- Issue: Mark Kelly, senator and retired Navy Captain, is under Pentagon investigation for a video advising military personnel to refuse illegal orders.
- Kelly remains defiant, framing the investigation as political intimidation.
- Discussion about the precedent and the power of the military to recall retired officers for discipline.
- Chamberlain and Bannon suggest aggressive use of institutional power by the Trump administration, with implications for political opponents.
Notable Quote:
"It's really remarkable… there are no lengths to which this administration will not go to use the process of investigation in an effort to punish people it perceives as its adversaries."
— Will Chamberlain, (15:19)
4. Deeper Dive: Blue Slip Process and Interim Federal Appointments
- (22:35–29:03)
- Chamberlain details the statutory process for appointing interim U.S. attorneys and why it's become a battleground due to Senate resistance (blue slip).
- Contends that districts' and senators’ ability to stall presidential appointments is being exploited politically, but sees Supreme Court likely to restrict such leverage.
- Bannon: DOJ getting more aggressive; broader strategy at play.
Notable Quote:
"There's no way that the Supreme Court is going to stand for a process by which Article three judges and home state senators are able to completely defeat federal prosecutions."
— Will Chamberlain, (26:32)
5. Financial System Warnings and Gold as Safe Haven
- (35:06–43:12)
- Philip Patrick on market turmoil: Massive losses in crypto ($1.2 trillion drop) are seen as indicative of deeper systemic financial stress.
- Comparisons to 2000 and 2008 crashes, with high leverage and forced unwinding causing “cascades.”
- Safe-haven assets like government debt and cash are losing trust due to inflation and fiscal policies.
- Central banks’ historical rush into gold post-Russian asset seizure highlighted as a symptom and potential solution.
- Discussion on Europe’s plan to fund Ukraine’s reconstruction by seizing Russian assets, interpreted as a risky precedent that could drive even more nations to gold.
Notable Quotes:
"This is a classic flight to quality moment. But the big problem is the so-called risk free assets. They're not working either.... you need a third category, assets outside of the system. And I think that's why the global rotation into gold will continue."
— Philip Patrick, (37:43)
"We forced their hands and now they're capitalizing.... The second we seized Russia's assets, that was the catalyst for central banks to start dumping dollars and buying gold."
— Philip Patrick, (41:02, 41:59)
6. DOJ Antitrust: RealPage Settlement and Rental Market Reform
- (46:19–51:05)
- Gail Slater explains: DOJ announced a major legal settlement with RealPage, a rent-setting algorithmic software company.
- Settlement requires RealPage to stop using competitors’ data and “hyperlocal” rent coordination, aiming to increase competition and affordability.
- Bannon and Slater discuss how millennials are affected, with rent consuming a large share of income.
- DOJ action originated under Biden; Trump administration prioritized quick settlement for immediate consumer relief.
- DOJ will enforce the order aggressively against landlords who violate settlement terms.
Notable Quotes:
"RealPage was replacing Competition with coordination and renters paid the price.... It is a win for renters and it means more affordable options for Americans trying to make ends meet."
— DOJ Official/Gail Slater, (47:25)
"Tomorrow morning, it should mean that your landlord is going to start looking harder at those rental contracts and revising those rents downwards."
— DOJ Official/Gail Slater, (50:21)
Noteworthy Exchanges & Memorable Moments
- Brian Glenn’s reporting on the White House scoop early in the episode sets the stage and urgency:
“Nobody saw it, but you know about it. What's up?” (02:33) - Frequent mentions of “5D chess” and advanced political gaming regarding Trump’s strategy:
“Maybe this is 5D chess that he's playing. But it's something, it's really amazing.” (05:29) - Bannon mocking the mainstream media’s reaction to legal defeats (“spiking the football... Shamwow, MBMBs, whatever it is”). (22:08)
- Insight into the blue slip process and political logjams for federal appointments, a less-publicized but potent area of federal politics.
- Philip Patrick’s systemic warning about global finance:
“If the riskiest corner is collapsing and the safe corner isn't truly safe, it's telling us something very important. Investors are running out of places to hide...” (37:43)
Timestamps for Key Segments
- 02:33 — Breaking: Trump’s executive order and Muslim Brotherhood designation (Brian Glenn live from the White House)
- 09:19 — Dismissal of major indictments against Comey/JL James (Bannon, Chamberlain)
- 14:35 — Pentagon investigation into Sen. Mark Kelly (Chamberlain)
- 22:35 — Legal deep dive: Blue slip process and the fate of interim US attorneys (Chamberlain)
- 35:06 — Crypto market crisis, margin calls, and central banks fleeing to gold (Philip Patrick)
- 41:00 — Europe’s cash crisis and seizure of Russian assets (Patrick/Bannon)
- 46:19 — DOJ settlement with RealPage and efforts to reform the rental market (Gail Slater)
Conclusions
This War Room episode captures the host's perspective on breaking news through bold commentary and expert guests, offering:
- A window into the evolving Trump administration’s legal and national security agenda
- Real-time analysis of headline court decisions and their constitutional implications
- Macro-level financial warnings about the instability of “safe” assets and the systemic importance of gold
- DOJ updates on antitrust action directly affecting renters nationwide
Tone is urgent, populist, and deeply distrustful of established institutions and media, providing listeners with detailed, inside-baseball-level explanations of both legal and economic maneuverings happening at the highest levels.