The Glenn Beck Program - Best of the Program ｜ Guest： Steve Forbes ｜ 4⧸20⧸22

00:00:00.000 Hey, welcome. We're talking a little bit about inflation today with Steve Forbes. He's fascinating

00:00:05.840 and very, very clear on what inflation is and the warnings to our country. Also, we get ready

00:00:12.560 for our big special tonight. I share some of the pieces that actually were on the cutting room

00:00:17.920 floor. Some of the things that are now being taught in your kid's classroom. This is funded

00:00:25.540 in part by the federal government. It is everywhere across the nation. If you thought CRT was bad,

00:00:33.400 wait until you see tonight's episode at nine o'clock. And that's right after a brand new

00:00:39.060 Stew Does America. Normally I don't watch that show, but you have a good guest on tonight,

00:00:43.460 don't you? Yeah. Yeah. We booked somebody. Oh, Glenn Beck. Because we're doing a little

00:00:50.540 bit on, uh, on this as well, kind of focusing on a little bit of a different part of it

00:00:55.760 with, you know, the libs of tick tock thing that's going on with Taylor Lorenz. And we're

00:01:00.220 going to get into that, uh, as well with you, hopefully, uh, on the program, if you decide

00:01:04.640 to show up, we'll see. We'll see. You never know. You never, you never know. Blaze tv.com

00:01:09.760 slash Glenn is the place to go. You can get your subscription, uh, for 10 bucks off. If you

00:01:14.440 use the promo code Glenn. So I was reading an article, um, and I'm having our time editing

00:01:35.280 it because I think it's so important. It comes from Alex, uh, Svetsky. He is the author of

00:01:42.380 the Uncommunist Manifesto. And he says, modern society must make a decision. We as individuals

00:01:50.820 in a modern society are becoming more technocratically dystopian by the day. We'll, uh, inevitably, we

00:01:59.400 will inevitably be faced with a choice. Succumb to centralize digital money or rally around

00:02:07.200 the freedom and sovereignty of Bitcoin. Now he points out in this, a big difference between

00:02:14.620 cryptocurrency and Bitcoin. Hang on. He says, the West is no longer the West. I don't even

00:02:22.520 know if it deserves to be capitalized. What made it great and successful, the enlightenment

00:02:28.220 values and the sovereignty of the individual are all but dissolved in the morass of modern,

00:02:33.820 uh, modernity's mindlessness. Gone are the days of excellence, greatness, and standing

00:02:40.100 out in are the days of conformity, compliance, acceptance, participation awards, and just

00:02:47.440 fitting in the values and virtues that made the West great have been replaced with the

00:02:53.140 incessant cry for comfort and convenience in return for obedience. The crescendo of this

00:03:01.180 horrific orchestra is nigh. Gaslighting is the norm. Like Orwell predicted, war is now peace.

00:03:08.980 Freedom is now slavery. Ignorance is now strength. The West was not defeated by a single blow.

00:03:16.460 It has been death by a thousand minute and meaningless cuts. From pronouns to equity, scientism,

00:03:25.520 welfare, climate alarmism, political correctness, this incessant need to deconstruct objective

00:03:33.600 reality into completely arbitrary subjective falsehoods. That has transformed the once great

00:03:41.060 West into a cesspool of moral relativism. When everything matters, nothing matters.

00:03:49.800 We are truly living in a clown world. We used to aspire to greatness and excellence. We were interested

00:03:59.100 in the idea of quality, of worth, of value. But there is no more value. Like the money we conjure out of

00:04:09.100 thin air and use to measure human action and all resources, everything has been supposedly made

00:04:16.160 abundant. Because we have no anchor to real cost. And as a result, we're drowning in excess quantities of

00:04:24.420 fake wealth, of junk that doesn't matter. Whether this be NFTs, moronic media, reality TV, fake celebrities, 1.00

00:04:35.000 brainwashing at school, nursing home level politicians, or scandemics. 0.98

00:04:42.020 And because we spend all of our time lying to ourselves and burning through real resources,

00:04:50.280 we are simultaneously suffering from shortages and areas that do matter. Energy, food, responsibility,

00:05:00.280 intelligence, and courage. We used to be pioneers. We used to envision our place in the stars.

00:05:08.400 Now we bicker and worry about our place in the dirt. It's a sad time for humanity.

00:05:16.940 And dare I say, only God knows when we come out on the other side, if we do it all.

00:05:24.720 The empire of lies cannot last, and it will collapse either on top of all of us, or atop only some.

00:05:32.500 I sincerely hope the latter, for the only meaningful and realistic goal we have left,

00:05:39.760 as sovereign, intelligent individuals, is to limit the collateral damage.

00:05:46.200 As we embark on this pursuit, and as the collapse of these false orders inevitably occur,

00:05:53.160 it's my belief that Homo sapiens will bifurcate into two primary camps, and perhaps two different

00:06:00.680 species. One, Homo lemmingus. And two, Homo bitcoinius.

00:06:15.420 The first one is a classic midwit NPC status persona.

00:06:22.320 Those who lack personal control and restraint, and as such, project that lack onto the rest 0.99

00:06:30.120 of the world. The key characteristic of the yearning to reduce the diverse constituents 1.00

00:06:37.380 of a complex organism into simple numbers, and transform these systems into mere spreadsheets.

00:06:45.340 They are the doctors who believe health is the absence of disease.

00:06:49.220 That disease is the absence of modern medicine, and that depression is the absence of Prozac.

00:06:57.160 They lack the capacity to think holistically, and they view all fractal, complex systems as

00:07:04.520 linear and isolated from the whole. They have major control issues because they lack self-control,

00:07:12.600 and therefore compensate by attempting to control others.

00:07:16.840 They're willing to trade the diversity and complexity of life for sterility and linear control.

00:07:26.780 On the other hand, Homo bitcoinius will be the kind of individual who continues to become more

00:07:33.820 robust, sovereign, and self-reliant. They will be too busy practicing self-mastery and building

00:07:41.060 something of value to bother with meddling in other people's lives. They will be more local.

00:07:48.080 They will own the product of their labor. They will trade freely, and they will have no master.

00:07:54.560 They will own stuff and be happy.

00:07:58.000 Of course, there will be diverse classes of people arranged into hierarchies of competence.

00:08:07.780 They'll not be built on some arbitrary authority by decree, but the emergence of natural leaders

00:08:13.780 and masters of their craft. This is what nobility means in the classical sense.

00:08:19.140 To be noble is something to aspire toward, not something to sneer at. To be noble is the pursuit

00:08:26.480 of excellence and greatness. It is my hope that the New West will both be built and populated

00:08:33.960 by these kinds of people. We're going to have a high price to pay.

00:08:39.960 He goes into the difference between crypto and Bitcoin. Have you ever thought of this, Stu?

00:08:57.440 That those are very, very different?

00:09:00.880 Sure. Yeah. I mean, every project is different in scope. And I was reading some of this earlier

00:09:08.020 today. It seems like one of the big criticisms he has is the centralization aspect of many

00:09:13.480 of the other coins. Correct.

00:09:16.020 Which is a problem. I don't think that they're all worthless, but that is one of the strengths

00:09:21.300 of Bitcoin. It was why it was the first one. It achieves those fundamentals much better than

00:09:28.080 any of the others. So he talks about Bitcoin. He says, here are the reasons Bitcoin came up

00:09:34.820 in the first place. It was the removal of rulers and issuers of money, the removal of monetary

00:09:42.200 inflation, the demonopolization of money forever, the placement of money into the realm of physical

00:09:51.600 and natural laws, and the fusion of energy, universal physical currency, to money in the metaphysical

00:09:58.720 sense. The magnitude of this achievement is staggering. And the inability for people to

00:10:06.200 comprehend it is both mind-numbingly frustrating, but also expected, considering the nihilistic pets

00:10:13.100 humans have become. Perhaps the words on this page jolt you, or perhaps I'm just yelling at the clouds.

00:10:19.820 I don't know. But I'll try my best to remind you that fiat is the enemy in every sense of the word

00:10:27.160 and in every incarnation. Any kind of coin other than Bitcoin is just replicating the fiat we already

00:10:35.900 have, but on a more digital standard. You don't want to give these people, no different than Bill Gates

00:10:43.880 or Mark Zuckerberg, ultimate power over you. Do you? And he talks about how crypto

00:10:51.480 has just become outright Ponzi schemes or machines used by the financial tech world and by governments.

00:11:05.220 And he specifically goes into Ethereum. And I didn't know this about Ethereum. Ethereum apparently

00:11:13.020 is, let me see if I can find it. Ethereum is the Ethereum foundation. Did you know that?

00:11:21.720 Yeah. He writes, it's infused with World Economic Forum participants, but Ethereum co-founder

00:11:29.120 owns Infura, which practically the entire Ethereum network runs on. He's part of the old guard,

00:11:38.600 worked at Goldman Sachs, I believe in his bed with agencies attempting to reduce the world into a

00:11:43.820 spreadsheet and humans into numbers to populate it. The WEF, BlackRock, et cetera.

00:11:49.940 Look, Ethereum is a totally different project, right? And it's a totally different aim.

00:11:54.240 But still, you know, look, the point I think is, is most pure here in the difference between Bitcoin

00:12:01.140 and these centralized Fed coins, where, you know, this is where you're taking the positives

00:12:07.740 of Bitcoin and implementing it into a system where the central government can monitor every one of your

00:12:13.080 activities. Correct. And that is, I think, the biggest danger here. You know, you can obviously be

00:12:17.980 involved in these other crypto projects or not, but it's really more about not just, you know,

00:12:25.920 which cryptocurrency you're talking about, right? It's, it's, it's a bigger issue than this.

00:12:31.180 Well, he says, you know, that centralization. Yeah. He's, he's talking about like Cordano is,

00:12:36.420 is, uh, you know, using, uh, yeah. Cardano or cut Cardano. Yeah. Cardano. I mean, we're,

00:12:42.660 we're super deep here. I think. No, I know that. I know that. But they're saying that it's

00:12:47.340 blockchain for social good. Cause that explains what happened at the world economic forum. They were

00:12:52.760 talking about blockchain and a lot of these things have their founders and, uh, you know,

00:12:59.400 the people on their board who are WF members. And they're talking about, this is going to be,

00:13:04.620 you know, um, you know, socially good for everybody that, that is leftist code language,

00:13:11.520 you know, socially good. What, how are you going to make sure that things are balanced? That's the

00:13:17.500 one thing that Bitcoin does not do. It doesn't balance and give, promise you equity. It promises

00:13:25.420 that you can take your labor, turn it into money, put it in Bitcoin and it remains safe for you.

00:13:36.280 Yeah. Relatively. It's, it's not, there's no, there's no overseer, right? That's the, that's the,

00:13:43.480 the promise of it. And, you know, I will say there's a really good argument that

00:13:47.480 a lot of the cryptocurrency stuff has gone away from that. You know, they've tried to solve some

00:13:52.960 of the, you know, perceived problems with, with no centralization by putting a few people who aren't

00:14:00.960 the government in a position of centralization, which is not, it's not any good. That's what we did

00:14:05.880 with the fed. It's not, it's not great. Right. It's exact. You are setting up a new federal reserve,

00:14:11.680 but like you, as you see, you know, we've been talking about this type of stuff for a while,

00:14:16.220 when you talk about content being removed from the internet and, and social media accounts going

00:14:22.560 down, you know, banned and speech being not only banned, but banned in advance, you know,

00:14:28.800 people censoring their speech before they even say these things. That's the promise of this type

00:14:34.780 of technology where it's so far outside. You know, we keep talking about, uh, you know,

00:14:41.420 how are we going to change the law so that YouTube is nicer to us? Like, I mean, I'm not saying there's

00:14:48.000 nothing to do down those roads, but like those are, that's, those are not solutions to these

00:14:51.940 problems. Like YouTube is never going to do what you want it to do. Twitter is never, even with Elon

00:14:56.920 Musk in there, you're just going to start disliking Elon Musk more if he takes this thing over

00:15:00.880 because they're never going to do, they're never going to do this right. But that is the reason

00:15:05.060 why Bitcoin is so good is it sets the rules up and the rules can't be changed, right? The rules are

00:15:12.420 the rules just exist. Yeah. Nobody, nobody can change those rules. I would have no problem. That's

00:15:19.020 what the internet used to be. I'd have no problem if you had YouTube, Facebook, whatever, and the rules

00:15:25.280 were the rules and you don't change them along the way to, for your own, you know, board members or

00:15:33.200 whoever you just, that's it. Um, and everything was fair. You don't like that one. Good. Go create

00:15:40.140 another one. And they didn't have the ability to stop you from creating another one. That's the world

00:15:47.620 that America always was. America was based on that idea. The streets were lined with gold, 0.80

00:15:54.200 not literally. They were lined with gold because if you want to build something, this was the place

00:16:01.720 where you could build it. And remember Disneyland was built in under a year, about seven months.

00:16:10.500 You wouldn't be able to get an environmental study for Disneyland today. Um, that's who we used to,

00:16:17.600 that's who we were in 1955. So are we going to be free or are we going to be under somebody

00:16:24.140 thumb? That is the main choice that we all have to make. This is the best of the Glenn Beck

00:16:31.960 program. And don't forget, rate us on iTunes. If you don't, um, use Tik TOK. Good for you. I mean,

00:16:46.660 I mean that sincerely all hail you. Um, Tik TOK is a, is a, um, is a Chinese tool. I think just to

00:16:59.840 just dumb us down. Um, but I digress there, there is, um, there isn't, there's not the censorship

00:17:10.800 on Tik TOK that there is elsewhere. And somebody has really done a great job at exposing the craziness

00:17:22.220 that is the fringe of the liberal part. I can't say that, you know, what was fringe we're now living.

00:17:29.400 So I don't know what fringe is in the, in the, on the left anymore. I have no idea what fringe is.

00:17:37.660 Um, but the creator has now come under attack and I want to play just a little bit of something she

00:17:44.940 said, uh, yesterday as she is being doxxed and exposed and her address is given out online.

00:17:52.780 Here's what she said.

00:17:53.520 How has this affected your life? This Jeff Bezos piece?

00:17:57.780 Well, it's the past two days have been very chaotic and overwhelming. Um, I have to make

00:18:04.280 some travel plans, you know, really fast, but I was not planning on earlier. So there was a little

00:18:11.080 bit of coordination that had to happen. Um, and I'm now in a location where I don't think anyone would

00:18:17.560 find me, um, not in any of the locations that Taylor Moran leaked or that anyone can find.

00:18:24.080 Um, but I, it's, it's been a little bit tough, but I'm not going to let this get me down.

00:18:31.060 So her friends and people who know her say she's not going to stop. This is not going to,

00:18:38.200 it will frighten her. It will scare her. Um, cause they're coming after her and these people

00:18:44.140 will be violent. You know, they always say the right is so violent. Show it to us, show it to us.

00:18:52.000 The left, I could show you boatloads of evidence that you're violent.

00:18:58.440 So all she's doing on this tick tock, it's the libs of tick tock. All she does is take things that 1.00

00:19:06.620 are on tick tock. She doesn't edit them out of context or anything else. She just takes the post

00:19:13.240 and she reposts it in one place. And now conservatives go to libs of tick tock and 1.00

00:19:20.400 they see what they're saying. Let me give you two of the videos she posted. Here's video.

00:19:24.960 Number one. This is a tool I use to teach students about gender and sexuality. First up,

00:19:29.560 we have sex assigned at birth. This is what the doctor says you are. When you come out of the womb, 0.65

00:19:33.020 it should be based on chromosomes, hormones, and genitals. But most times doctors just look at

00:19:37.220 genitals. Next up, we have gender identity, which is totally different from sex assigned at birth.

00:19:41.640 This is what you feel you are inside. And no one can see this from the outside.

00:19:46.960 There are three different sliders that you can move up and down to describe your gender identity.

00:19:51.140 Then we have gender expression, which is how you show your gender to the world.

00:19:55.080 It's usually based in a sort of binary system, which isn't perfect. Again, you can slide these

00:19:59.280 up and down to show the different gendered ways you express yourself. Then we jump down to

00:20:03.140 attraction. We have physical attraction and emotional attraction. These are different.

00:20:08.480 Again, there are sliders that a person can use to best describe their sexuality.

00:20:13.200 All right. So this is done with a big cartoon unicorn. This is for our kids. That's a teacher

00:20:19.320 explaining, showing the curriculum what's happening. Instead of teaching addition, we are teaching

00:20:26.540 attraction. Bet the Chinese aren't doing that. 1.00

00:20:31.780 Now, this is a first grade classroom. This is a from a teacher in a charter school in Boston.

00:20:45.620 Again, from the libs of tick tock. Listen to this and something, something cool about me,

00:20:50.720 Miss Hammond. All right. All right. So something that's really cool and unique about who I am

00:20:56.100 is that I am transgender. So we touched a little bit about that at the beginning of this week in

00:21:02.500 the book that Miss Hammond read. But I'm going to give you my explanation about what it means to be

00:21:07.220 transgender as well. So when babies are born, the doctor looks at them and they make a guess about

00:21:12.660 whether the baby is a boy or a girl based on what they look like. And most of the time, that guess is

00:21:18.500 100% correct. There are no issues whatsoever. But sometimes the doctor is wrong. The doctor makes

00:21:25.820 an incorrect guess. When the doctor makes a correct guess, that's when a person is called

00:21:30.160 cisgender. When a doctor's guess is wrong, that's when they are transgender. So I'm a man. But when I

00:21:37.580 was a baby, the doctors told my parents I was a girl. And so my parents gave me a name that girls

00:21:44.000 typically have and bought me clothes that girls typically wear. And until I was 18 years old,

00:21:50.840 everyone thought I was a girl. And this was super, super uncomfortable for me because I knew that

00:21:55.920 wasn't right. I didn't know the doctor's guess. Did you know that? No, I kind of thought they had

00:22:04.320 some information based on science that they were making. Yeah, they were recording. But no,

00:22:09.760 I guess it's just a spin of a wheel. I guess we don't follow the science. No, no, it's just a

00:22:14.740 guess. So the reason why we're bringing this up is this is all this woman does. She's not taking 0.99

00:22:19.560 people out of context. She's just playing that on one channel of, you know, her channel lives of

00:22:24.940 TikTok. And many of them are these are those are two more of the more serious examples. A lot of them

00:22:29.760 are funny. I mean, it's just, you know, laughing at the oddities in our world, right? We all have

00:22:35.960 them. Some people have more than others. But nobody's on candid camera. They posted these

00:22:40.940 right to TikTok. That's really important. She's not as far as I know. And correct me if I'm wrong

00:22:45.860 on this, Glenn, but she's not going into someone who has their account set as private. No. And

00:22:51.940 lifting their their account. She's just going through and and and being a human algorithm. 0.52

00:23:00.140 Yeah. Hey, these are the things I find interesting. Look at what look at what liberals are really

00:23:04.440 saying to each other in this world. And they admit quite a bit when they're bragging to their

00:23:10.860 friends about how much typically they are owning conservatives. Correct. They're doing this to brag.

00:23:18.580 So here's the thing. The Jeff Bezos owns the Washington Post, the Washington Post through Taylor

00:23:26.300 Lorenz has doxed the woman that has the libs of of tick tock doxter. She's a regular person. She's only 1.00

00:23:38.560 all she's doing is being a human aggregator. That's it. But apparently Taylor Lorenz, who I think is 0.76

00:23:48.220 psychotic, she is had a psychotic break because she has been crying on NBC, complaining about threats

00:23:59.100 and online bullying that she claims has targeted her. And she said it is so destructive and has

00:24:08.160 destroyed my life and made me feel unsafe. If there's just one piece of information that comes

00:24:14.840 out about me. Well, she then goes to the Washington Post and exposes the woman behind libs of tick tock 1.00

00:24:24.100 address and everything. Now, they're saying they didn't do that. But yes, they did. They posted a

00:24:31.140 real estate license with the woman's address on it. Oh, he didn't see the address. Bull crap. You didn't

00:24:37.700 see the address. And the only reason why this is happening is because libs of tick tock is successful.

00:24:47.360 People actually watch it and laugh. And that cannot be tolerated in an authoritarian state.

00:24:57.300 You do not make fun of the authoritarians. You don't.

00:25:02.720 That's the only reason why this is happening. This is intimidation, period.

00:25:13.780 They wanted us to extract consequence. They wanted pain. They wanted a price. If you're going to

00:25:20.760 make our movement look bad, then you're going to pay personally in fear, in harm to your career,

00:25:31.600 anger, in intimidation, in whatever form it is, you will have to pay a price for being successful

00:25:41.320 against liberals, against progressives, against the far left, against the Great Reset. They have

00:25:49.000 to extract a price for it. There's no other reason to do this. BS. They didn't know the address was

00:25:54.240 there. In fact, they're not even saying that. They're not saying we missed the address. They're

00:25:59.220 saying they didn't do it at all. They're just memory holding the entire experience when everyone

00:26:04.140 saw the link to the real estate license with the address on the page. They're just acting as if it

00:26:09.900 didn't occur. That's their plan right now, the Washington Post. And it's completely, it's

00:26:15.640 embarrassing. This is, this is not 1997 where Taylor Lorenz was crying about a piece of information

00:26:23.620 out about her who is a public figure, a reporter, and everyone knows her name. Now she's actually

00:26:30.440 trying to justify outing someone who isn't a public figure, who doesn't have their name public.

00:26:37.480 What does that do to her life? She knows exactly what it does. She was just crying and sobbing about 0.74

00:26:42.660 it on MSNBC a couple of weeks ago. And to have this disconnect shows real struggles dealing with

00:26:50.000 reality. Oh, a psychotic break, a true psychotic break. She is, I don't know if she, she is a danger

00:26:58.920 possibly to her own self. She is to others. She's now demonstrated that she is not living in reality

00:27:07.000 and she is a danger to others. Uh, that's a reason that, you know, they keep you at the hospital.

00:27:13.220 She said she was dealing with massive PTSD. Yeah. She said she was, uh, mentally just exhausted.

00:27:23.140 This is two weeks ago and she understands the consequences of all this. Then she goes to work

00:27:31.240 with Jeff Bezos and she does exactly what she said caused her breakdown. That's somebody who needs help.

00:27:41.340 I mean that I, I don't want to, uh, get into the world of, uh, diagnosing people and committing

00:27:49.480 people to insane asylums, but she is a danger to others and she is not making any sense. She is 0.95

00:28:00.380 doing what she just said should never be done. And it's a much worse version than what happened to

00:28:07.460 her. She, I mean, the fact that she's taking someone whose identity is not known and making

00:28:12.180 it known is a really big line and taking someone who is not a public figure and making them into a

00:28:17.020 public figure is a big difference. Taylor Lorenz, look, she, she, of course she's dealt with criticism 0.99

00:28:22.500 online. She's an online reporter for all of the major papers in our country. Basically she was at the

00:28:29.060 New York, New York, the top two New York times and Washington post, right? She's been, you know,

00:28:32.920 she's been in the center of this debate for a while. And of course, yes, she has received

00:28:37.960 criticism, much of it fair, some of it unfair. I'm sure some of it was terrible. I know that we

00:28:43.640 receive terrible, abusive things said to us all the time. It's part of being a public figure in

00:28:49.440 the United States. It's not a good thing. No one, no one should do that to her. However, what she's

00:28:55.060 talking about here is now she's trying to say, well, this is just what reporters do. So of course,

00:29:00.260 people who are antagonistic towards her and who are a little more aggressive are going to go to

00:29:05.460 all of her friends and all of her family and do these things, show up at their door. And we've

00:29:10.940 seen some of it already. She's already complaining about some of it happening already. Well, you're

00:29:15.100 the one normalizing this behavior. This is insanity. It should not happen. And, you know, her, she 0.95

00:29:20.780 tweeted yesterday, she said, rather than debate doxing, I hope people can read the story and see the

00:29:26.380 striking escalation of attacks against gay and trans people in the crucial role this account

00:29:30.580 has played in the right-wing media ecosystem. Well, look, I read the story. That would have

00:29:36.380 been the debate if you didn't name the person to give out their address, right? That would have been

00:29:40.240 the debate. People would have been saying, well, is this account highlighting people who are going

00:29:44.480 through difficult times and maybe shouldn't be highlighted? I don't know. You could have that

00:29:49.020 conversation. And you know what's so crazy is I'm not debating that that guy felt, you know,

00:29:55.700 he was a girl and felt like he's now a he or whatever. I wasn't even debating that. What I'm

00:30:02.740 debating on that TikTok video, the last one we played, is you're saying that doctors are guessing.

00:30:10.700 That's the thing. And you're saying that to first graders. Right. That's the controversial part

00:30:16.260 for me. I mean, I'm so past the, oh, he's a dude. He was a girl. Huh? I mean, I don't really care. 1.00

00:30:27.080 When I'm on TikTok, I don't really care what you say you are. And it's such a strange thing where

00:30:34.020 they separate this when it comes to gender and sex. You know, this has been their defense, 0.89

00:30:39.660 right? When you say, wait a minute, we know what sex is. Everyone knows like, whoa, this is a 0.94

00:30:43.160 different thing. It's the feeling you have inside. Look, maybe it is the feeling you have inside, but

00:30:48.780 your feelings about what you have inside are completely unimportant to me. I don't care what

00:30:55.480 your feelings are. Your feelings make no difference to society. You can have all the feelings. You can

00:31:01.380 be, you can cry at Hallmark movies or not. I don't care what your feelings are. Your feelings might be

00:31:07.040 important to you. They might be important to your family. They might even be important to the first

00:31:11.800 graders' families who you are teaching, but they are unimportant to society in general.

00:31:17.820 You can feel like a boy or a girl, however you want, whenever you want. But what you are is

00:31:25.420 important to society. What you feel like you are isn't. That's important to you in your personal

00:31:30.780 life. You deal with that all you want. But what is actually important to society and to doctors

00:31:36.400 who need to know whether you might be pregnant or not is what you are. That's the important thing.

00:31:46.740 The best of the Glenn Beck program.

00:31:48.920 Welcome, Steve Forbes. How are you, sir?

00:32:03.260 Good to be with you. Thank you.

00:32:05.500 So I am I'm really interested in hearing your take on what we are headed for with inflation.

00:32:13.820 So let's let's start here. Explain what inflation is, because some people, you know, you're so used

00:32:21.820 to hearing we're going to have two percent inflation. Oh, that's good. No, it's not. Is it, Steve?

00:32:28.140 No, just as you don't say we're going to reduce the size of a gallon of gasoline two percent.

00:32:34.200 That's good for you. No, it isn't. Keep it the same. So inflation with this is why we did this

00:32:40.460 reader friendly book. No jargon. Straightforward. There are really two kinds of inflation. One,

00:32:46.180 the non-money kind, non-monetary kind is when, say, you have bad weather. So commodity prices go up,

00:32:53.520 wheat prices go up, or you get the kind of shutdowns we had with the pandemic, which disrupts

00:32:58.880 supply chains all over the world. We're still suffering from that. That sends prices up.

00:33:03.760 And then you have the money kind, where the government reduces the value, in this case,

00:33:09.580 of the dollar by creating too many of them. And we know the government has been spending on a spree.

00:33:16.320 How has that been financed? A large part of it is the Federal Reserve buys those bonds. How does it

00:33:21.740 get the money to buy those bonds? It creates that of thin air, the ultimate ATM. Now, unfortunately,

00:33:27.440 Glenn, on the non-monetary inflation, normally, if you just leave the economy alone,

00:33:32.160 those things will heal themselves. We did it after World War II, and we converted from a wartime

00:33:38.200 economy to a peacetime economy. Disruptions, but we did it. But unfortunately, the Biden administration

00:33:43.780 is putting obstacles in the way, starting with the war on fossil fuels and a lot of other crazy

00:33:49.500 things they've done. 77 executive orders, $200 billion of new regulations. So they're making the

00:33:55.800 problem worse instead of letting the economy heal. And the Federal Reserve, they've been printing a lot of

00:34:01.500 money. They've been using gimmicks to try to keep that money from flooding the economy, but that's

00:34:06.160 going to run out. So if they don't get their act together, we're in for a rough time. And let me

00:34:11.880 just conclude on this. Unfortunately, and this is where we have a real danger now, the Fed believes

00:34:17.780 the way you cure inflation is not by stopping the printing press and making the dollar whole again,

00:34:24.640 making it stable again. They believe you do it by slowing the economy down, throwing people out of

00:34:31.340 work. And that's what they're up to now. So Steve, first of all, the the idea of inflation,

00:34:39.440 we say it's now at 8.5. That's just because we measure it differently. If you look at shadow stats

00:34:45.880 that measure it the way we did under Reagan, it's at 17.1. Is that fair to do or not?

00:34:55.320 Well, this gets to the whole thing of how do you measure prices? The whole labor department has a

00:35:02.520 whole bureau devoted to it. What do you put in the index? And one of the crazy things is, is when

00:35:08.320 people's buying patterns change, let's say meat prices go up, which they have. So instead of having

00:35:13.940 a steak, you might go for some cheap hamburger. Well, they don't they they don't count that as a

00:35:20.900 inflation. They just say the patterns have changed. So yes, you can manipulate these things six ways

00:35:26.540 to Sunday. But the bottom line is prices are going up. The cost of living is going up. Part of it is

00:35:32.940 the pandemic and the Biden administration making things worse. We can cure that hopefully with a new

00:35:38.960 Congress. But the Federal Reserve, they got to get over this notion that when we do work, when we are

00:35:44.800 trying to be prosperous, they got to slow us down. I really bad stuff. I don't know that anybody really

00:35:50.860 understands the Fed balance sheet and what they've done and the money that they have loaned out trillions

00:35:58.720 of dollars that they have bailed banks out all around the world. If you can't, you know, they're trying

00:36:06.220 to sell off the stuff they have on their balance sheet. But every time they try that and raise

00:36:12.120 interest rates, the economy stops. And so not sure they're going to be able to do either of those.

00:36:19.680 How do you pull this money back in to be destroyed?

00:36:24.880 Well, what you do, first of all, which they won't do this part, is you leave interest rates alone.

00:36:31.960 Let the market set interest rates. Controlling interest rates is like rent control, which,

00:36:38.160 as we know, hurts new construction. This is trying to control the price of money and affect the price

00:36:43.760 you pay for renting the money, so to speak. So they should just leave that alone and let the market

00:36:49.040 do it. The market can sort it out very quickly. On your point about the balance sheet, when you say

00:36:55.060 balance sheet, people's eyes start to glaze. This thing of it, Fed is sitting on a pile of bonds,

00:37:00.000 and too many of them. And so what they should be doing is letting those bonds mature, not buying

00:37:08.040 new bonds. Let the money supply go down. And if they do that in a responsible way, we'll avoid a

00:37:14.580 huge slowdown. But let me give you something. This is a gimmick that they've been employing in the past

00:37:20.520 year when they create or are creating $120 billion a month, pulling money out of thin air. Let me just

00:37:27.680 walk your listeners through on this. The Federal Reserve creates money. They call up a dealer,

00:37:34.220 a bond dealer like Goldman Sachs, and say, we want to buy a billion dollars of bonds.

00:37:39.380 So Goldman says, fine. They give the Fed the bonds. And how does the Fed pay for those bonds?

00:37:45.360 They credit Goldman's bank account. Where does that money come from? No place. The Fed just says,

00:37:51.300 voila, you have it. And that's how they create the money out of thin air. So they're doing that last

00:37:57.520 year at a rate of $120 billion a month to help finance the government's debt. And so what they did

00:38:04.300 to try to keep from an even worse inflation than we've been experiencing is they then create the

00:38:10.620 money and then borrow it back from the banks and money market funds overnight. If you want to get

00:38:16.260 technical, if people want to look at this stuff, they go to the Fed balance sheet, they'll find a

00:38:21.480 thing called reverse repurchase agreements. In effect, the Fed is pouring money, pouring a bucket

00:38:26.520 of water in one end of a pool and then taking it out at the other end of the pool. Now that gimmick

00:38:32.120 can't go on forever. And you know, a year ago, a little over a year ago, they had zero of these

00:38:36.860 reverse repos. Now they have $1.7 trillion. That's the game they've been playing. Huge dam of money ready

00:38:45.820 to flood the economy. So we are now also by turning the taking the money and saying, Oh, no,

00:38:57.100 your central bank that your dollars are no good to Russia. A lot of countries around the world are

00:39:02.400 going, geez, if I get on the wrong side of America, all of a sudden, what I have as gold

00:39:07.240 is no good. That's not safe for me. We are destroying the dollar at the same time we're

00:39:15.580 inflating the dollar. How's this going to end, Steve? Well, ultimately, and this will sound very

00:39:22.420 strange, and you shouldn't say it in polite company. Ultimately, in a few years, we're going

00:39:27.660 to do again what we did for the first 180 years of this country's existence. And that is tie the dollar

00:39:34.860 to gold. What it means is, is gold for a variety of reasons keeps its intrinsic value. And all it

00:39:41.860 means, it's like a measuring rod, not perfect, but it keeps the dollar stable in value. If we had

00:39:48.500 maintained the growth rates we did for that 180 years, which was the greatest in human history,

00:39:55.040 and then we went off the gold standard in the early 70s. And since then, the average growth rate

00:40:01.260 of the United States economy has gone down by at least one-third, from about four and a quarter

00:40:06.960 percent to two and three quarters. That doesn't sound like much, but you do that over 50 years,

00:40:12.600 let me just give you a number. The average, the median household income today is about $68,000.

00:40:20.180 If we'd maintained our historic rates of growth, which we did for 180 years through depressions,

00:40:26.280 wars, war, civil war, you name it, if we'd maintain that average rate of growth, you know what the

00:40:31.680 median income would be? $110,000. That's what we've lost for a half century of funny money. It's bad stuff.

00:40:44.240 Can you explain, you just said that the Fed is going to destroy jobs, or they're, you know...

00:40:51.240 Yes. How are they doing that? They have this thing, they have this theory

00:40:55.920 called the Phillips curve. It's not a baseball pitch. It's named after an economist who said that

00:41:02.480 if you want low unemployment, you have to have high inflation, higher inflation. If you want lower

00:41:09.020 inflation, you have to have higher unemployment. They believe prosperity causes inflation. They don't

00:41:16.180 realize devaluing the dollar causes inflation, but they can't grasp that. So as a result, when you hear

00:41:23.560 this talk about soft landing, what they mean is, can we slow the economy down enough without going into

00:41:30.700 a full-fledged recession? Usually their attempts at soft landings is a crash landing. They are trying

00:41:38.180 to slow the economy down, create unemployment because they think the economy is too prosperous. That's why

00:41:44.660 they think we have this inflation. So they won't say that explicitly, but you press them on it. Yes,

00:41:52.040 they want a slowdown, and they just hope they can avoid a recession. It's bogus thinking.

00:41:59.220 Experience disproves it, but at the Fed, the Phillips curve is wholly writ.

00:42:04.880 Steve, when you look at... By the way, we're talking to Steve Forbes. He's got a new book out called

00:42:10.600 Inflation, what it is, why it's bad, and how to fix it. Steve, when you look at the money printing that

00:42:18.980 we have done, you immediately think of Weimar Republic. I mean, idiots know that, hey, you can't 1.00

00:42:29.180 keep doing this for very long, and at huge sums of money, okay? Everybody learned that. Weimar Republic, 1.00

00:42:36.280 Zimbabwe, et cetera, et cetera. Venezuela, today. Venezuela. So do we know or have a guess on how

00:42:48.140 close we are to that? I mean, is there a possibility we go into hyperinflation?

00:42:54.960 You can't rule anything out with these people, but I think the answer is no. I think even some

00:43:00.840 people at the Fed are realizing they're in the danger zone, and so they're trying to figure out

00:43:07.820 they got themselves into this mess, and they were doing this, by the way, undermining the value of

00:43:12.800 the dollar before the COVID crisis. This was starting in 2018, so they can't say, oh, we did it because

00:43:18.820 of COVID. No, they're doing it before COVID. So I think they're trying to figure out now, how do we get

00:43:24.900 ourselves out of this without getting a disaster? So I think they're going to slow down the money

00:43:30.080 creation, but what they should be doing now is, instead of trying to manipulate interest rates,

00:43:37.200 just let their balance, just let the bonds mature, and their size that they hold of those bonds go down.

00:43:45.560 Nature will take care of it. Keep the dollar stable, and then let the bonds mature. 0.97

00:43:54.520 Run off. And we'll get through this. But the other side of the coin is, even if the Fed starts

00:44:02.360 to behave itself, then you have a government that is doing everything it can to slow the productive

00:44:08.500 part of the economy. You know, the genius of Ronald Reagan was, when he cured the inflation,

00:44:12.820 at the same time, he had cut taxes, deregulation, and that's why we roared in the 80s after those tax

00:44:19.800 cuts went into effect. We're doing the exact opposite. So we're going to have to wait for 2024

00:44:23.820 to get that done. But in 2022, hopefully with the November elections, at least we can put barriers in

00:44:31.140 the way of the Biden administration from putting new burdens on the economy. And also start questioning

00:44:37.380 the Fed. What in the world are you guys doing? Why do you think prosperity is bad for us?

00:44:43.560 Steve, I know this is off the inflation path a bit. We're talking to Steve Forbes, the book,

00:44:48.680 Inflation, What It Is, Why It's Bad, and How to Fix It. But I'm really concerned about these ESG

00:44:55.500 programs, you know, going and switching our economy to a stakeholder capitalism, which is

00:45:02.280 just bullcrap, in my opinion. And the way we are letting BlackRock and others come in and just

00:45:13.660 buy us all up. They're buying one in every seven homes for sale, going to BlackRock.

00:45:22.200 Well, this, and the nice, the good thing about a free economy, free country, and free speech

00:45:29.180 is when these things start to happen, you can arouse the public. They won't say it publicly,

00:45:36.060 but Coca-Cola and Delta really reverse course after they did what they did last year when they

00:45:43.780 booted the All-Star game out of Atlanta because they didn't understand what Georgia did with the

00:45:49.220 voting laws, which are more liberal than they were in New York City. Hello? And they got burned on that.

00:45:57.380 They got real pushback on that. Disney's getting pushback on it. So the way you answer this stuff

00:46:03.760 is you push back. And one of the things I think you're going to see happen after the November

00:46:08.280 elections is looking at ideas on how, if you're a shareholder in a fund or a group, an ETF or something,

00:46:18.360 how can you have a voice on how your share of the shares, so to speak, are voted at these annual

00:46:25.220 meetings. It's complicated, but I think you're going to see real, real thinking on that. So it's not

00:46:32.340 just a group of people. You know, decades ago, there was a great business guru called Peter Drucker.

00:46:39.540 And he still, some schools still read his books, business schools, but he warned of what he called

00:46:46.060 pension fund socialism. He noted the rise of pension funds owned by the state and by endowment funds.

00:46:54.160 And he said, they could end up buying the economy. Government doesn't have to do it. They're doing

00:46:58.820 it for them. So I think you're seeing real pushback on that. But this gets to what you might call modern

00:47:04.940 socialism. The modern socialists recognize you don't have to take over a company or an industry.

00:47:11.100 You just have to regulate it. So its survival depends on your whims. And that's what the Biden

00:47:16.760 administration is doing, practicing modern socialism and pressuring the BlackRock and others or having 0.92

00:47:23.500 BlackRock and others go along with pushing that kind of agenda. That has to be resisted. But modern

00:47:30.100 socialism, different from Marx had in mind, you get the regulators to do it. You don't have to take

00:47:35.640 them over. Would you, would you say that we are now doing modern monetary theory in Washington?

00:47:41.980 We have one. They're doing a form of it. Modern monetary theory is simply modern garb on the old

00:47:49.540 idea of devaluing money by creating too much of it. You know, in Roman times, they did it by reducing

00:47:56.180 the precious metals in a coin and putting the tin and junk in it. Modern times, we do it by printing up

00:48:02.520 a lot of paper money or now ellipses on your handhelds. And it's the same thing. And what you see

00:48:09.300 unfolding now, and we discussed this in the book, inflation, is the old response of government,

00:48:14.720 they scapegoat. You know, in Roman times, they blamed Christians. In evil times, witches. Now,

00:48:19.960 today, we blame company executives with the same old movie. Steve Forbes, his new book is out today.

00:48:26.880 You want to pick it up. Inflation, what it is, why it's bad, and how to fix it.

The Glenn Beck Program - April 20, 2022

Best of the Program ｜ Guest： Steve Forbes ｜ 4⧸20⧸22

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