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Bannon`s War Room

Episode 5084: Live From Davos Cont; Leading The World Economy

21 Jan 2026

Transcription

Chapter 1: What is the primal scream of a dying regime?

2.242 - 23.866 Steve Bannon

This is the primal scream of a dying regime. Pray for our enemies, because we're going medieval on these people. I got a free shot on 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've tried to do everything in the world to stop that, but you're not going to stop it. It's going to happen.

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23.887 - 26.592 Unknown

And where do people like that go to share the big lie?

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Chapter 2: How does the media shape public perception?

27.313 - 33.885 Unknown

Mega media. I wish in my soul, I wish that any of these people had a conscience.

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33.967 - 44.205 Steve Bannon

Ask yourself, what is my task and what is my purpose? If that answer is to save my country, this country will be saved.

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Chapter 3: What is the significance of President Trump's second term?

44.225 - 74.684 Steve Bannon

War Room. Here's your host, Stephen K. Bann. Wednesday, 21 January, year of the Lord, 2026. This is the first day. This is day one of President Trump's second year of his second term. And it's already been a blockbuster. I want to go to Jason Trennert. Jason, thank you from Strategist. You're one of the most revered contributors we have, you and Scott Besson.

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75.165 - 98.499 Steve Bannon

We did 30 Minutes with the Secretary of Treasury yesterday from Davos. And I asked you to come on as a follow-up. because you are known on Wall Street as being not just a smart guy, but a safe pair of hands and a thoughtful guy. Can you answer me the question? Because, you know, Besson's not a gold bug. Philip Patrick, who runs Birch Gold, is not a gold bug. Steve Bannon is not.

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99.421 - 108.996 Steve Bannon

I know you're not. Why is gold approaching $5,000 an ounce and silver almost $100 an ounce, sir?

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109.718 - 130.225 Jason Trennert

Well, Steve, thank you so much for having me on. I will say I want to correct you on two things. One is I'm not in Scott Besson's league. And second, I have to say I am a little bit of a gold bug to the extent to which I'm long gold, my personal accounts. And we've been long gold in our ETFs.

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130.205 - 143.689 Jason Trennert

SAMT, Strategas Macrothematic Opportunities Fund, which has as its base, one of its themes is de-globalization. Gold is going up.

143.789 - 162.426 Steve Bannon

No, but hang on a second. Hold on, hold on, hold on. I just want to say this because Scott is too. I am obviously, this is why we took them on as a sponsor when gold was $1,100 an ounce because we saw what was happening in the world economy. My point is back in the 80s and 90s, you're not one of those guys because I knew guys that were gold bugs back then that were like fanatics.

162.926 - 170.893 Steve Bannon

And it turns out they may be right and the investment banker crowd might have been wrong. And now you're seeing it. Go ahead, sir.

170.873 - 197.529 Jason Trennert

yeah no i'm trust me i'm you know i've built my entire career out of paper you know out of uh financial assets as opposed to hard assets so i'm a big believer uh in that obviously but i do think there are times when gold comes in handy and i think this is one of those times because the US has absolutely, in my opinion, there's no chance of the US losing its reserve currency status.

198.05 - 218.379 Jason Trennert

So put that aside. I do think, though, because of a variety of reasons, one is just the accumulation of debt in the United States and other fiat currencies that people want to hedge against paper, against debt with a hard asset like gold. So I think that's one reason.

Chapter 4: Why is gold approaching $5,000 an ounce?

515.714 - 535.277 Jason Trennert

President Trump is doing a version of that. I mean, I think that a in a less bellicose way. And then the other thing is to try to grow your way out. And that's what the U.S. is trying to do more than any other country in the world. You mentioned the supply side efforts.

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535.297 - 556.853 Steve Bannon

Hey, Jason, Jason, Jason, Jason, can we just hang on for one second? We've got Nigel Farage live on the streets of Davos. We're going to leave him. Just hang on for it. So let's go to Brian Glenn with Nigel Farage on the streets of Davos. Yes, sir. Steve Bennett says hello. Welcome to War Room. Quickly, I just noticed you walked out of the USA House. Tell us about it.

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557.514 - 576.28 Nigel Farage

Well, happy birthday, USA. 250 this year. The first Brexit in the world, which goes to show the nation state means everything. It's very interesting. Ten years ago, we had the Brexit vote. We had Trump elected. And the Davos crowd didn't believe it. They thought it was a short-term aberration that would simply disappear. Here we are 10 years on.

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576.741 - 598.842 Nigel Farage

The main speaker is Donald Trump, followed by Javier Millay. At a lower level, I'm here from the United Kingdom, but we've led in the last 200 opinion polls. and the winds of change are hitting Davos. Thoughts about a speech that he delivered today to a highly anticipated crowd, being a little bit delayed coming in here. Thoughts on that?

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599.223 - 616.653 Nigel Farage

Yeah, I mean, look, on the economics, it's pretty unarguable that if American Q4 growth is 5% or over, I mean, this is stunning. And you look at productivity and everything. So on the economics, he had a very strong case. He told us the Dow's going to double. So I'm looking at call options as we speak.

618.697 - 639.67 Nigel Farage

On NATO, I mean, he has done more for NATO than anybody by pushing the Europeans into starting to pay their fair share. And America had saddled the burden for far too long. Where it was wrong was he said that we'd never given anything back. Well, hang on. You know, we stood by you guys in Afghanistan yesterday. for the whole of the 20 years and pro rata put him the same.

639.932 - 662.231 Nigel Farage

So he wasn't right about that. The one thing I'm delighted about is that he's basically vetoed. the sellout of Diego Garcia. It's taken the administration a long time to wake up to that. But as Steve well knows, as an ex-naval man, Diego Garcia is really strategically one of America's most significant bases around the world. The Americans have spoken on that. Now, Greenland's controversial.

662.732 - 677.755 Nigel Farage

Greenland's controversial. I would just say this. If you believe in the nation state, if you believe in sovereignty, then you believe in the principle of national self-determination. And the job that Trump's got to do is not with the Europeans. The job Trump's got to do is with the people that live in Greenland.

678.256 - 685.412 Nigel Farage

And whether it begins with an economic partnership or however it goes, but that's where he's got to focus because the wishes of those people have to matter.

Chapter 5: What factors are driving central banks to buy gold?

1199.463 - 1209.06 Ben Berquam

You've got shifts in economies, what people are buying. But in particular, if you can buy an asset that protects you, your family, and also increases in value, there's no better asset.

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1210.762 - 1230.169 Steve Bannon

So, Ben, you've been actually out in Los Angeles working with folks. I want you to just give a quick tour to Horizon that we're so focused on Minneapolis. I'm going to come back to that in a second with you. We're so focused on Minneapolis. The ice is ramped up and hitting other places too, right? You want to talk about that?

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1230.189 - 1239.942 Steve Bannon

Because every day on Getter, there's another clip from some other place where people are not focused on. But Bovino's got guys all over the place, and they're rolling up the criminal element.

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1241.643 - 1257.702 Ben Berquam

Yeah, every city in America, ICE is focused on picking up illegals from the worst of the worst. That's their top priority in every single city. But then all the way down the list, if you are here illegally, unlike what Don Lemon says, that's a crime. You don't have a right to be here. You are getting deported. And so ICE is focused on that.

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1257.963 - 1272.681 Ben Berquam

While Minneapolis is burning down, ICE is still going into every city. In fact, I was just talking to the guys yesterday. Morale? This is the question I get asked all the time. With all these attacks against ICE, with all these lunatics screaming and crying and attacking ICE, how is morale? Morale has never been higher.

1272.961 - 1290.079 Ben Berquam

All ICE wants to do, and this goes for all law enforcement in general, all they want to do is their job. And when they get to do their job, because President Trump is allowing them to do their job, they're excited. But I want to caution you, Steve. The scariest thing, the stats I got in L.A. are Shocking.

1290.459 - 1315.237 Ben Berquam

There's over a million, 1.2 million that they know that they have illegal aliens in the LA region from San Luis Obispo down to Riverside County. It's a massive area for the LA Ice Field Office. That area has over a million, 1.2 million known illegals set for deportation. They have just over 400 ice officers. With the new budget coming in, they're planning on doubling that to 800 ICE officers.

1315.277 - 1335.184 Ben Berquam

But think about that, 800 ICE officers for over a million illegals in that geographic region. It's why the left is attacking ICE, because they know they can slow them down. That's all they're trying to do. They're obstructing them to protect illegals in the hopes that they'll win in 2026 and then win the presidency in 2028 and then undo everything President Trump and ICE are doing.

1335.424 - 1355.47 Ben Berquam

That's all they're doing. So every day that they're obstructed, they're allowing illegals rapists, murderers, child molesters to stay in this country. It's a win for the Democrats, and it's why we the people in every one of these cities need to go out with our signs that say, God bless ICE. When you see the ICE protests, go out and counter those ICE protests and just let ICE do their job.

Chapter 6: How does President Trump plan to address the U.S. debt crisis?

1845.374 - 1868.773 Steve Bannon

Keep your number, keep your phone, or upgrade to that free smartphone today. Their 100% U.S.-based team can activate you in minutes. Go to patriotmobile.com slash Bannon. That's all one word, patriotmobile.com slash Bannon, or call 972-PATRIOT and use promo code Bannon. Don't wait. This limited-time offer won't last.

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1868.793 - 1897.054 Steve Bannon

That's patriotmobile.com slash Bannon, or call 972-PATRIOT with promo code Bannon. You're going to get an East Texas accent, and you're going to get an American citizen on the phone. So join me today. Make the switch today at 972-PATRIOT. Promo code BANNON. Here's your host, Stephen K. Bannon. You've heard the World Economic Forum.

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1897.074 - 1920.386 Steve Bannon

We're talking about the politics of it and most importantly, the economics of it. 90% of your net worth is in your home. Don't ever forget that. You can't let anybody with AI, cyber, all of it, bad guys, rogue accountant, rogue lawyers, rogue relatives, companions. HomeTitleLock.com, promo code Steve. You get a 14-day free trial on the $1 million triple lock protection.

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1920.506 - 1939.95 Steve Bannon

Talk to Natalie Dominguez and the team today. This is a special offer for the War Room posse. That's how much they love you. Take advantage of it. HomeTitleLock.com, promo code Steve. Go there today. Talk to Natalie Dominguez and the team and try the 14-day trial free of the $1 million protection. Also, Tax Network USA, Cameron Kinsey from...

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1940.116 - 1959.255 Steve Bannon

The first Trump White House working over there got a special deal for the war on policy. You get a complete assessment which costs hundreds, sometimes thousands of dollars of your tax situation. Remember, Scott Besson's in charge now. He's got a mandate. He's got to get all the money the IRS says you owe. Now, that may be quite different than what you think.

1959.387 - 1980.163 Steve Bannon

That's why you need to bridge the bid and the asked. The way to do it is TNUSA.com. Go there now or even better, 800-958-1000. Say you're a member of the War Room, Warren Posse, Bannon. Invoke anything you need to. They'll give you the special assessment of how deep your hole is, or maybe it's not that deep. Take the angst away. Do it today.

1980.295 - 2002.219 Steve Bannon

nor bin laden you've heard the president's speech you've been doing all the sidebars we still got a lot more to go president trump's at bilats now you've heard nigel farage on the streets of davos and you heard who's my billboard guy the billboard guy who's everywhere that guy's great he's saying the transgender thing that that at the top level at davos they've thrown in the towel what say you ma'am

2003.954 - 2027.128 Diana West

I'll start with Nigel Farage's remarks on Greenland more specifically, because it goes without saying, and the administration has made it clear that, of course, the inhabitants, the 55,000 inhabitants of Greenland will be part of the deal and will be taken into account. So that's been made very clear.

2027.269 - 2045.098 Diana West

And I wanted to bring up this point because everybody's been screeching about sovereignty, the question of sovereignty over this Greenland issue. And it's been so ironic listening to these major globalists like Ursula von der Leyen, like Mark Carney, like Macron talking about sovereignty.

Chapter 7: What insights does Nigel Farage provide from the streets of Davos?

2210.018 - 2228.079 Dr. Bradley Thayer

He's speaking for the Democrats in the U.S., for the EU elite and for the CCP, for the Chinese Communist Party. He's making the argument for the old regime, which profited this Chinese Communist Party and the elite in the US, the EU, of course, Canada, Australia.

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2228.14 - 2242.454 Steve Bannon

Dr. Thayer, hang on for one second. Dr. Thayer, hang on. We've got the president live with General Sisi. Let's go live to Davos. Great or just good? Great. Great what? Great looking.

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2242.474 - 2242.975 Unknown

Great everything.

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2246.617 - 2269.242 Steve Bannon

You ready? Well, thank you very much. A friend of mine is he was a great general. He's a great president. And it's an honor to have him. And Mr. President, we have a lot to talk about. So I thought maybe the press might want to ask us a couple of questions after you say a few words. But we had a wonderful time and I think we've made a lot of progress so far.

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2269.322 - 2295.422 Steve Bannon

And Switzerland and Davos made a speech. It's being reviewed quite nicely. And we have a fantastic relationship with Egypt. And the President will call and ask for things, and we always are able to work it out. But the relationship has been very strong right from the beginning, from years ago. So I want to thank you very much.

2296.55 - 2332.665 Unknown

Allow me, Mr. President, at the beginning I would like to extend my thanks and appreciation for you for allowing this opportunity to happen and to have this meeting with you. I would like also to congratulate you on a year full of achievements since you came back to office.

2333.962 - 2377.622 Unknown

I would like also to thank you, Mr. President, and congratulate you for all the achievements that you have done on one of the toughest files in our part of the world. This is Gaza. I said it before. I reiterate it now. I reemphasize it before our colleagues and before the media. But for President Trump, we wouldn't have reached an agreement on Gaza.

2377.702 - 2422.647 Unknown

I really would ask you, Mr. President, to continue paying your attention and care. your attention and care for this file so that the plan should be implemented fully. So, President, you've announced the second phase of the Gaza plan. This is very important that it comes forward and it takes effect.

2422.847 - 2464.278 Unknown

And on our part, we'll be standing very ready to provide everything that we can to make this a success. As for the Council of Peace, it is our pleasure to be on the Council of Peace, the Board of Peace. We are very happy to be on the Board of Peace, and we are supporting and very happy to be there backing up every effort that can bring about peace in our part of the world and globally as well.

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