WAR ROOM 3/25/23| STEVE BANNON|JOE BIDEN HAS NO IDEA HOW THE FINANCIAL SYSTEM WORKS

STEVE BSNNON: That gives you confidence, doesn't it? He confuses deposit with loans. I mean, he doesn't know where he is. He's wandering around and look, I'm not one of these big guys. He's got dementia and all that. He's got no, but he's illegitimate. He's always been, you know, he's always been an airhead. Uh, dumb as a tick, right? Um, but right there, does that make you feel confident? Does it make you feel good? I guess he just gave a, a blanket, uh, guarantee for all deposits over $250,000, which they've been walking back all week. You talk about confidence.
One, their actions drove this. The massive overspending they used to brag about, doesn't talk about that anymore. The massive overspending drove. That was the Biden spending with the, as McConnell Republicans drove the Biden inflation that destroyed the government securities that were issued at lower interest rates. As interest rates went up, the bonds dropped.
There's now 2 trillion of unrealized losses on the balance sheets of US banks. That's the report that's out. There's 186 banks that are jiggy, right? And, um, and, and, and, and those bonds. The destruction of that value is what led to the Biden Banks. They're like the new Hoovervilles, the Biden Banks. And that right there, you saw it. That's the best he's got. That's the best he's got. You. You, you watched the war room, you've watched it for the last couple of years. We've done a more sophisticated analysis in 30 seconds, two years ago than he just gave right there.
And he's the big kahuna. That's who you're dependent on. Think about for a second. You got Janet Yellen. She doesn't know where she is half the time. You know, the, not just the policies are wrong, the inability.