Bannon’s War Room Steve Cortes, Economic War in the 21st Century Economics Guest: Steve Cortes, March 2, 2022
Bannon’s War Room. Steve Cortes Economic War in the 21st Century
Published on Rumble March 02, 2022
Part I
Steve Bannon:
Unrestricted Warfare is written by these Chinese Colonel back in the late 90s.It’s kind of the game plan of the Chinese Communist Party, talked about cyber and information war. It talked about economic war, it talked about kinetic war. Last night Steve Cortes, the commander in chief of the United States, or suppose, commander-in-chief the United States stepped up in front of the American people and kind of rambled on about Ukraine, Ukraine, Ukraine. Did he sir, ever inform the American people that we're in an offensive economic war? Where we have weaponized their currency as the lead weapon. This is a thermo, we have unleashed a thermo nuclear weapon on to I guess an opponent because we declared war, Steve Cortes.
Steve Cortes:
You're exactly right, Steve, we dropped a financial dirty bomb upon Russia and even worse than that upon the Russian people. Not one that is targeted against the oligarchs against the war machine against Putin, but rather against everyday Russians. That's what we did in our intentional decision to in a concerted way as a Westerner alliance effectively collapse, the Russian ruble. And by the way, you don't have to guess about this because some of the officials, people like the French foreign minister are being very deliberate and very overt in their statements. But to answer your question. Did Joe Biden make that case? We are already at economic war with Russia, that economic war I fear could trigger a kinetic shooting war. Did he admit that we are? Did he spell out the reasons why we are?
And if you make the case to the American people why they should support this, why we should be taking these kinds of incredibly risky and totally unprecedented actions to weaponize money because of a regional conflict in which there is no vital American interest. I mean, a conflict in which Russia is clearly in the wrong obviously with a violent invasion of another country.
But again, is there any vital American interest at stake that could possibly justify this level of escalation and particularly escalation with a power that is as potent as Russia is, both on the nuclear side and as you have correctly cited on the cyber side, which may be even more dangerous because they're probably much more willing to go there to attack the United States. But the other risk for us, it's not just what Russia may do to us, Steve, it's what we're doing to ourselves.
And I wrote a new article and put it up on my Substack about this because look, a lot of Americans love this, Netflix series, The Crown and that may be terrific drama Okay that doesn’t really matter to our lives. There is a crown that matters to our lives and that's the crown of King Dollar. And a lot of Americans may not even realize that but one of the reasons for that, for 40 years before Biden, for 40 years we've had very stable low inflation in the United States, basically, from 1980 when Volcker and Reagan broke the back of inflation all the way until now we had a long period of stability in pricing. It was amazing for regular Americans for their purchasing power, for their prosperity, their everyday lives.
That's been badly broken now by Biden and it might get much, much worse, because of what he has been doing to the dollar. This move by the United States, in my view, really jeopardizes his dollar supremacy and dollar hegemony in world financial markets, Why? I'll give you two reasons I think that are crucial here, Steve. First is when he has clearly told the world, what he has showed the world by these actions is you can't count on the dollar for stability.
You should not be transacting in the dollar at least primarily in the dollars so major countries, like Russia and India and China they already were making plans to get on non-dollar banking system. Those hands are now going to put into overdrive because they can't function financially. I don't blame them for this Steve. They can't function financially at the whim of Washington. D.C. at the idea that Washington DC can de-bank them at any time with a little help from London and Brussels. That is what is going on right now. That's what we're doing to Russia. Something that was not even done to the Nazi regime.
But here's the other reason why I think King Dollar is presently being dethroned after a century at the helm, by the way. The dollar has been the reserve currency of the world. The United States currency has been ever since America sent the Doughboys over to the great war in World War I and finally broke through and ultimately achieved victory in that struggle. For literally a century the dollar has been the ascendant reigning monarch of currencies. The other reason I believe it's ending now, the disaster in Afghanistan.
So, on two different fronts, on the weaponization of finance and the de-banking of Russia, and then also on the military front because if you look historically, Steve the world's reserve currency defaults to the strongest military in the world, particularly the strongest navy. Before the United States it was United Kingdom. That's where the phrase sound as a pound, came from. The Royal Navy ruled the seas and the pound ruled, the world as the reserve currency. It was then replaced by the United States dollar.
When the world saw that disastrous botched calamitous evacuation from Afghanistan Putin and a lot of other people in the world, many of whom had wished harm for the United States realized we need not fear, at least in the way we previously did the potency of the United States military because White rage Millie is a lot more focused on Wokeism than he is on lethality. So, I think these twin forces of combining together, the loss of military supremacy and the de-banking of Russia are starting to cause the loss of dollar hegemony in the world. King Dollar is being dethroned.
Steve Bannon:
And people don't understand, life will change, we’ll become Argentina. As soon as we're not the prime reserve currency, you can't, his outright lie last night he says, “I've cut the deficit in half from three trillion to two trillion.” The three trillion, was a because of the COVID, because the spending on the COVID. They're going to have a permanent, they're going to come up here in a couple of days with this bipartisan group hug, a one-and-a-half trillion dollar annual deficit going for in perpetuity.
No matter how they lie about it. The Federal Reserve is still doing quantitative easing. They haven't jacked any interest rates. This is an orgy of spending coupled with an easy money, and that only exists, only exists in the world when you are the prime reserve currency that every transaction in the world has to be converted into dollars to take place. The reason is people know that the dollar has a certain value.
We are playing, we are playing with fire here. Here's the thing, not one leader in this country are walking the American people through what we're doing, what we're risking. What are we risking? Something that is not a vital national security interest of the United States. It may be a vital interest for the guys in Brussels for the EU and maybe for some of these partners in NATO. But remember, they’re allies have never pulled their weight ever, right? Steve Cortez, we got about a minute in this block than we’ll hold your over.
Steve Cortes:
You're exactly right, Steve. Here's the thing that we, I'm glad you mentioned Argentina because Argentina was a country that was as wealthy, if not wealthier than United States, roughly a century ago. So, history teaches us that we can't be complacent. This can happen to us, to the United States. We’re 30 trillion in debt. The only reason that we effectively get away with that, with that profligacy is because of the supremacy of the dollar and the thirst for the whole world to hold dollars, from central banks to drug cartels. But once you lose that appetite for the dollar, and I think it's happening now. King dollar is being dethroned. Suddenly, those debt burdens become totally unsustainable for the United States. This is incredibly dangerous and we're playing this game over a country that doesn't mean anything to the vital national interest of the United States.
Steve Bannon:
We are playing with fire and your leaders are lying to you. We are playing with fire and I'm telling you, it could be the bring an economic and financial catastrophe on this nation. And last night we’re in a defensive economic war. He did not make the case and didn't even bring it up, talked about some sanctions on oligarchs. That is not what we're talking about.
END
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